Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Feb. 12, 2021 | Jun. 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-K | ||
Document Period End Date | Dec. 31, 2020 | ||
Document Fiscal Year Focus | 2020 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Common Stock Shares Outstanding | 218,228,695 | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | false | ||
Trading Symbol | FBP | ||
Entity Current Reporting Status | Yes | ||
Entity Shell Company | false | ||
Document Transition Report | false | ||
Entity File Number | 001-14793 | ||
Entity Tax Identification Number | 66-0561882 | ||
Entity Address Address Line 1 | 1519 Ponce de León Avenue, Stop 23 | ||
Entity Address City Or Town | Santurce | ||
Entity Address Country | PR | ||
Entity Address Postal Zip Code | 00908 | ||
City Area Code | 787 | ||
Local Phone Number | 729-8200 | ||
Security 12b Title | Common Stock ($0.10 par value) | ||
Security Exchange Name | NYSE | ||
Entity Interactive Data Current | Yes | ||
Entity Incorporation State Country Code | PR | ||
Entity Well Known Seasoned Issuer | Yes | ||
Entity Public Float | $ 1,173,527,344 | ||
Entity Voluntary Filers | No | ||
Document Annual Report | true | ||
Documents Incorporated By Reference TextBlock | Portions of the definitive proxy statement relating to the registrant’s annual meeting of stockholders scheduled to be held on May 21, 2021 are incorporated by reference in response to items 10, 11, 12, 13 and 14 of Part III of this Form 10-K. |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
ASSETS | ||
Cash and due from banks | $ 1,433,261 | $ 546,391 |
Money market investments: | ||
Time deposits with other financial institutions | 300 | 300 |
Other short-term investments | 60,272 | 97,408 |
Total money market investments | 60,572 | 97,708 |
Investment securities available for sale, at fair value: | ||
Securities pledged with creditors right to repledge | 341,789 | 130,165 |
Other Investment Securities Available For Sale | 4,305,230 | 1,993,360 |
Total investment securities available for sale, at fair value | 4,647,019 | 2,123,525 |
Investment securities held to maturity, at amortized cost, net of ACL of $8,845 as of December 31, 2020 | 180,643 | 138,675 |
Equity securities | 37,588 | 38,249 |
Total loans, net | 11,441,691 | 8,886,543 |
Loans, net of allowance for loan and lease losses of $385,887 (2019 - $110,374) | 11,391,402 | 8,847,066 |
Loans held for sale, at lower of cost or market | 50,289 | 39,477 |
Premises and equipment, net | 158,209 | 149,989 |
Other real estate owned (OREO) | 83,060 | 101,626 |
Accrued interest receivable on loans and investments | 69,505 | 50,205 |
Deferred income taxes, net | 329,261 | 264,842 |
Goodwill | 38,632 | 28,098 |
Intangibles | 40,893 | 7,573 |
Other assets | 272,737 | 177,842 |
Total assets | 18,793,071 | 12,611,266 |
LIABILITIES | ||
Total deposits | 15,317,383 | 9,348,429 |
Non-interest-bearing deposits | 4,546,123 | 2,367,856 |
Interest-bearing deposits | 10,771,260 | 6,980,573 |
Securities Sold Under Agreements To Repurchase | 300,000 | 100,000 |
Advances from the Federal Home Loan Bank (FHLB) | 440,000 | 570,000 |
Other borrowings | 183,762 | 184,150 |
Accounts payable and other liabilities | 276,747 | 180,614 |
Total liabilities | 16,517,892 | 10,383,193 |
Preferred stock, authorized 50,000,000 shares: | ||
Non-cummulative 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; 223,034,348 shares issued (2019 - 222,103,721 shares issued) | 22,303 | 22,210 |
Less: Treasury stock (at par value) | (480) | (474) |
Common stock outstanding, 218,235,064 shares outstanding (2019 - 217,359,337 shares outstanding) | 21,823 | 21,736 |
Additional paid-in capital | 946,476 | 941,652 |
Retained earnings, includes legal surplus reserve of $109,338 million (2019- $97,586 million ) | 1,215,321 | 1,221,817 |
Accumulated other comprehensive loss, net of tax of $7,590 (2019-$7,752) | 55,455 | 6,764 |
Total stockholders' equity | 2,275,179 | 2,228,073 |
Total liabilities and stockholders' equity | $ 18,793,071 | $ 12,611,266 |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Statement Of Financial Position [Abstract] | ||
Amortized cost | $ 4,584,851 | $ 2,109,008 |
Debt Securities, Available-for-sale, Allowance for Credit Loss | 1,310 | 0 |
Held to Maturity Fair value | 173,806 | 110,374 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 8,845 | 0 |
Allowance for credit losses on loans and finance leases | $ 385,887 | $ 155,139 |
Preferred stock, shares authorized | 50,000,000 | 50,000,000 |
Non-cumulative Perpetual Monthly Income Preferred Stock, shares 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 | 223,034,348 | 222,103,721 |
Common stock, shares outstanding | 218,235,064 | 217,359,337 |
Income tax expense | $ 7,590 | $ 7,752 |
Legal Surplus Amount | $ 109,338 | $ 97,586 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Interest incomeand divided income: | |||
Loans | $ 631,047 | $ 602,998 | $ 553,647 |
Investment securities | 58,547 | 59,546 | 60,224 |
Money martket investments and interest-bearing cash accounts | 3,388 | 13,353 | 11,096 |
Total interest income | 692,982 | 675,897 | 624,967 |
Interest expense: | |||
Deposits | 68,388 | 77,782 | 67,651 |
Loans payable | 21 | 0 | 0 |
Securities sold under agreements to repurchase | 6,645 | 6,647 | 9,401 |
Advances from FHLB | 11,251 | 14,963 | 13,549 |
Other borrowings | 6,355 | 9,424 | 8,983 |
Total interest expense | 92,660 | 108,816 | 99,584 |
Net interest income | 600,322 | 567,081 | 525,383 |
Provision for Loan, Lease, and Other Losses [Abstract] | |||
Provision for Loan and Lease Losses | 168,717 | 40,225 | 59,253 |
Provision for credit losses | 170,985 | 39,813 | 58,989 |
Net interest income after provision for loan and lease losses | 429,337 | 527,268 | 466,394 |
Non-interest income: | |||
Service charges and fees on deposits accounts | 24,612 | 23,916 | 21,679 |
Mortgage banking activities | 22,124 | 17,058 | 17,228 |
Net gain (loss) on sale of investments | 13,198 | (497) | (84) |
Gain on early extinguishment of debt | 94 | 0 | 2,316 |
Insurance commission income | 9,364 | 10,186 | 8,429 |
Other non-interest income | 41,834 | 39,909 | 32,742 |
Total non-interest income | 111,226 | 90,572 | 82,310 |
Non-interest expenses: | |||
Employees' compensation and benefits | 177,073 | 162,374 | 159,494 |
Occupancy and equipment | 74,633 | 63,169 | 57,942 |
Business promotion | 12,145 | 15,710 | 14,808 |
Professional fees | 52,633 | 45,889 | 43,497 |
Taxes, other than income taxes | 17,762 | 15,325 | 14,707 |
FDIC deposit insurance | 6,488 | 6,319 | 8,909 |
Net loss on other real estate owned (OREO) and OREO operations | 3,598 | 14,644 | 14,452 |
Credit and debit card processing expenses | 19,144 | 16,472 | 15,546 |
Communications | 8,437 | 6,891 | 6,372 |
Merger and restructuring costs | 26,509 | 11,442 | 0 |
Other non-interest expenses | 25,818 | 20,233 | 22,339 |
Total non-interest expenses | 424,240 | 378,468 | 358,066 |
Income before income taxes | 116,323 | 239,372 | 190,638 |
Income tax expense (benefit) | 14,050 | 71,995 | (10,970) |
Net income | 102,273 | 167,377 | 201,608 |
Net income attributable to common stockholders | $ 99,597 | $ 164,701 | $ 198,932 |
Net income per common share: | |||
Basic | $ 0.46 | $ 0.76 | $ 0.92 |
Diluted | $ 0.46 | $ 0.76 | $ 0.92 |
Debt Securities [Member] | |||
Provision for Loan, Lease, and Other Losses [Abstract] | |||
Provision for Other Credit Losses | $ 1,085 | $ 0 | $ 0 |
Unfunded Loan Commitment [Member] | |||
Provision for Loan, Lease, and Other Losses [Abstract] | |||
Provision for Other Credit Losses | $ 1,183 | $ (412) | $ (264) |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||
Net income | $ 102,273 | $ 167,377 | $ 201,608 |
Debt securities: | |||
Unrealized gain on debt securities for which credit losses has been recognized | 772 | 48 | 255 |
Reclassification adjustment for provision for credit loss expense on available for sale debt securities | 1,641 | 497 | 50 |
Reclassification adjustment for net gain included in net income on sales of available-for-sale securities with no credit losses previously recognized | (13,198) | 0 | 34 |
All other unrealized holding (losses) gains on available-for-sale securities | 59,746 | 46,634 | (20,145) |
Defined benefit plans adjustments: | |||
Net actuarial loss | (270) | 0 | 0 |
Other comprehensive (loss) income for the year | 48,691 | 47,179 | (19,806) |
Total comprehensive income | 150,964 | 214,556 | 181,802 |
Other Comprehensive Income (Loss), Tax [Abstract] | |||
Unrealized gain on debt securities for which credit losses have been recognized, tax | 0 | 0 | 0 |
Reclassification adjustment for credit losses on debt securities included in net income, tax | 0 | 0 | 0 |
Reclassification adjustments for net (gain) loss included in net income on sales of available-for-sale debt securities with no credit losses previously recognized, tax | 0 | 0 | 0 |
All other unrealized holding gains (losses) on available-for-sale debt securities, tax | 0 | 0 | 0 |
Net actuarial loss, tax | (162) | 0 | 0 |
Total | $ (162) | $ 0 | $ 0 |
CONSOLIDATED STATEMENT OF CASH
CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Cash flows from operating activities: | |||
Net income | $ 102,273 | $ 167,377 | $ 201,608 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 20,068 | 17,592 | 15,026 |
Amortization of intangible assets | 5,912 | 3,086 | 3,593 |
Provision for credit losses | 170,985 | 39,813 | 58,989 |
Deferred income tax (benefit) expense | (4,371) | 55,009 | (25,043) |
Stock-based compensation | 5,117 | 3,949 | 5,825 |
Gain on early extinguishment of debt | (94) | 0 | (2,316) |
(Gain) loss on investment securities | (13,198) | 497 | 84 |
Unrealized gain on derivative instruments | (5,635) | (2,934) | (46) |
Net (gain) loss on disposals or sales of premises and equipment and other assets | (215) | 242 | (1,366) |
Net gain on sale of loans | (13,273) | (10,446) | (2,639) |
Net accretion/amortization of discounts, premiums, and deferred loan fees and costs | (8,602) | (8,117) | (8,397) |
Originations and purchases of loans held for sale | (648,052) | (362,612) | (319,770) |
Sales and repayments of loans held for sale | 659,349 | 360,572 | 344,935 |
Amortization of broker placement fees | 537 | 732 | 1,163 |
Net amortization/accretion of premiums and discounts on investment securities | 19,410 | 2,483 | 2,407 |
Decrease (increase) in accrued interest receivable | 6,419 | (1,971) | 6,649 |
(Decrease) increase in accrued interest payable | (2,990) | 1,081 | 236 |
(Increase) decrease in other assets | (5,018) | 32,521 | 8,906 |
Net (decrease) increase in other liabilities | 9,116 | (4,590) | (1,521) |
Net cash provided by operating activities | 297,738 | 294,284 | 288,323 |
Cash flows from investing activities: | |||
Net disbursement on loans held for investment | (335,152) | (341,870) | (277,863) |
Proceeds from sales of loans held for investment | 6,788 | 83,428 | 82,526 |
Proceeds from sales of repossessed assets | 35,270 | 60,124 | 51,799 |
Proceeds from sales of available-for-sale securities | 1,195,250 | 0 | 47,805 |
Purchases of available-for-sale securities | (3,820,148) | (765,432) | (509,884) |
Proceeds from principal repayments and maturities of securities available-for-sale securities | 1,277,762 | 628,675 | 387,817 |
Proceeds from principal repayments of held-to-maturity securities | 6,431 | 6,138 | 5,828 |
Additions to premises and equipment | (16,070) | (22,478) | (20,514) |
Proceeds from sale of premises and equipment and other assets | 497 | 1,568 | 2,548 |
Net redemptions (purchases) of other investment securities | 3,881 | 6,292 | (993) |
Proceeds from the settlement of insurance claims-investing activity | 0 | 587 | 7,673 |
Net cash acquired in acquisition | 406,626 | 0 | 0 |
Net cash used in investing activities | (1,238,865) | (342,968) | (223,258) |
Cash flows from financing activities: | |||
Net increase (decrease) in deposits | 1,767,441 | 361,657 | (36,889) |
Net decrease in short-term borrowings | (35,000) | (15,086) | (49,914) |
Repayments of long-term borrowings | (95,282) | (205,000) | (216,434) |
Proceeds from long-term borrowings | 0 | 0 | 120,000 |
Proceeds from long-term reverse repurchase agreements | 200,000 | 0 | 0 |
Repurchase of common stock | (206) | (1,959) | (2,827) |
Dividends paid on common stock | (43,416) | (30,356) | (6,517) |
Dividends paid on preferred stock | (2,676) | (2,676) | (2,676) |
Net cash provided by (used in) financing activities | 1,790,861 | 106,580 | (195,257) |
Net increase (decrease) in cash and cash equivalents | 849,734 | 57,896 | (130,192) |
Cash and cash equivalents at beginning of year | 644,099 | 586,203 | 716,395 |
Cash and cash equivalents at end of year | 1,493,833 | 644,099 | 586,203 |
Cash and cash equivalents include: | |||
Cash and Cash Equivalents, at Carrying Value, Total | $ 1,493,833 | $ 586,203 | $ 586,203 |
CONSOLIDATED STATEMENT OF CHANG
CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands | Total | Preferred Stock [Member] | Common Stock Outstanding [Member] | Additional Paid In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss), net of tax [Member] |
Stockholders Equity | $ 36,104 | $ 21,628 | $ 936,772 | $ 895,208 | $ (20,615) | |
Balance at beginning of year at Dec. 31, 2017 | 36,104 | 21,628 | 936,772 | 895,208 | (20,615) | |
Common stock issued as compensation | 27 | (27) | ||||
Common stock issued for exercised warrants | 73 | (73) | ||||
Common stock withheld for taxes | (43) | (2,784) | ||||
Restricted stock grants | 40 | (40) | ||||
Unrestricted stock grants | 0 | 0 | ||||
Restricted stock forfeited | (1) | 1 | ||||
Stock-based compensation | 5,825 | |||||
Net income | $ 201,608 | 201,608 | ||||
Dividends on common stock | (6,517) | |||||
Dividends on preferred stock | (2,676) | |||||
Amounts reclassified from accumulated comprehensive loss per ASU 2016-01 | ASU 2016-01 | (6) | 6 | ||||
OCI, net of tax | (19,806) | (19,806) | ||||
Balance at end of year at Dec. 31, 2018 | 2,044,704 | 36,104 | 21,724 | 939,674 | 1,087,617 | (40,415) |
Stockholders Equity | 2,044,704 | 36,104 | 21,628 | 939,674 | 895,208 | (20,615) |
Stockholders Equity | 2,044,704 | 36,104 | 21,724 | 939,674 | 1,087,617 | (40,415) |
Common stock issued as compensation | 0 | 0 | ||||
Common stock issued for exercised warrants | 0 | 0 | ||||
Common stock withheld for taxes | (18) | (1,941) | ||||
Restricted stock grants | 31 | (31) | ||||
Unrestricted stock grants | 0 | 0 | ||||
Restricted stock forfeited | (1) | 1 | ||||
Stock-based compensation | 3,949 | |||||
Net income | 167,377 | 167,377 | ||||
Dividends on common stock | (30,501) | |||||
Dividends on preferred stock | (2,676) | |||||
Amounts reclassified from accumulated comprehensive loss per ASU 2016-01 | ASU 2016-01 | 0 | 0 | ||||
OCI, net of tax | 47,179 | 47,179 | ||||
Balance at end of year at Dec. 31, 2019 | 2,228,073 | 36,104 | 21,736 | 941,652 | 1,221,817 | 6,764 |
Stockholders Equity | 2,044,704 | 36,104 | 21,724 | 939,674 | 1,221,817 | (40,415) |
Stockholders Equity | 2,228,073 | 36,104 | 21,736 | 941,652 | 1,221,817 | 6,764 |
Common stock issued as compensation | 0 | 0 | ||||
Common stock issued for exercised warrants | 0 | 0 | ||||
Common stock withheld for taxes | (5) | (201) | ||||
Restricted stock grants | 90 | (90) | ||||
Unrestricted stock grants | 2 | (2) | ||||
Restricted stock forfeited | 0 | 0 | ||||
Stock-based compensation | 5,117 | |||||
Net income | 102,273 | 102,273 | ||||
Dividends on common stock | (43,771) | |||||
Dividends on preferred stock | (2,676) | |||||
Amounts reclassified from accumulated comprehensive loss per ASU 2016-01 | ASU 2016-01 | 0 | 0 | ||||
OCI, net of tax | 48,691 | 48,691 | ||||
Balance at end of year at Dec. 31, 2020 | 2,275,179 | 36,104 | 21,823 | 946,476 | 1,215,321 | 55,455 |
Stockholders Equity | 2,228,073 | 36,104 | 21,823 | 946,476 | 1,221,817 | 55,455 |
Stockholders Equity | $ 2,275,179 | $ 36,104 | $ 21,823 | $ 946,476 | $ 1,215,321 | $ 55,455 |
CONSOLIDATED STATEMENT OF CHA_2
CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares | Jan. 28, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Statement Of Stockholders Equity [Abstract] | ||||
Common Stock Dividends Per Share Declared | $ 0.07 | $ 0.20 | $ 0.14 | $ 0.03 |
NATURE OF BUSINESS AND SUMMARY
NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES [Text Block] | NOTE 1 – NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of business First BanCorp. (the “Corporation”) is a publicly owned, Puerto Rico-chartered financial holding company that is subject to regulation, supervision, and examination by the Board of Governors of the Federal Reserve System (the “Federal Reserve Board”). The Corporation is a full service provider of financial services and products with operations in Puerto Rico, the United States, the U.S. Virgin Islands (the “USVI”), and the British Virgin Islands (the “BVI”). The Corporation provides a wide range of financial services for retail, commercial, and institutional clients. The Corporation has two wholly-owned subsidiaries: FirstBank Puerto Rico (“FirstBank” or the “Bank”), and FirstBank Insurance Agency, Inc. (“FirstBank Insurance Agency”). FirstBank is a Puerto Rico-chartered commercial bank, and FirstBank Insurance Agency is a Puerto Rico-chartered insurance agency. FirstBank is subject to the supervision, examination, and regulation of both the Office of the Commissioner of Financial Institutions of the Commonwealth of Puerto Rico (the “OCIF”) and the FDIC. Deposits are insured through the FDIC Deposit Insurance Fund. FirstBank also operates in the State of Florida, subject to regulation and examination by the Florida Office of Financial Regulation and the FDIC, in the USVI, subject to regulation and examination by the United States Virgin Islands Banking Board, and in the BVI, subject to regulation by the British Virgin Islands Financial Services Commission. The Consumer Financial Protection Bureau (the “CFPB”) regulates FirstBank’s consumer financial products and services. FirstBank Insurance Agency is subject to the supervision, examination, and regulation of the Office of the Insurance Commissioner of the Commonwealth of Puerto Rico and the Division of Banking and Insurance Financial Regulation in the USVI. Effective September 1, 2020, FirstBank completed the acquisition of Santander Bancorp, a wholly-owned subsidiary of Santander Holdings USA, Inc. and the holding company of Banco Santander Puerto Rico (“BSPR”), pursuant to a Stock Purchase Agreement dated as of October 21, 2019, by and among FirstBank and Santander Holdings, USA, Inc. (the “Stock Purchase Agreement”). Immediately following the closing of the transaction, 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. Refer to Note 2 – Business Combination, to the consolidated financial statements for more information about this acquisition. FirstBank conducts its business through its main office located in San Juan, Puerto Rico, 73 banking branches in Puerto Rico, 11 banking branches in the USVI and the BVI, and 10 banking branches in the state of Florida (USA). FirstBank has 5 wholly owned subsidiaries with operations in Puerto Rico: First Federal Finance Corp. (d/b/a Money Express La Financiera), a finance company specializing in the origination of small loans with 28 offices in Puerto Rico; First Management of Puerto Rico, a Puerto Rico corporation, which holds tax-exempt assets; FirstBank Overseas Corporation, an international banking entity (an “IBE”) organized under the International Banking Entity Act of Puerto Rico; and two other dormant companies formerly engaged in the operation of certain OREO properties. In connection with the BSPR acquisition in 2020, FirstBank acquired a trust business that administers and is custodian of assets amounting to approximately $ 69.3 million as of December 31, 2020. Due to the nature of trust activities, these assets are not included in the Corporation’s consolidated statements of financial condition. The Corporation’s trust division focuses its business on transfer paying agent and individual retirement account (“IRA”) services. Operating, Accounting and Reporting Considerations related to COVID-19 The COVID-19 pandemic has negatively impacted the global economy. In response to the crisis, the Coronavirus Aid, Relief, and Economic Security Act of 2020, as amended by the Consolidated Appropriations Act, 2021 (the “CARES Act of 2020”), was passed by Congress and signed into law on March 27, 2020. The CARES Act of 2020 provided an estimated $2.2 trillion aid package to stimulate the economy by supporting individuals and businesses through loans, grants, tax changes, and other types of relief. Some of the provisions applicable to the Corporation include, but are not limited to: Accounting for Loan Modifications – The CARES Act of 2020 provides that a financial institution may elect to suspend (1) the requirements under accounting principles generally accepted in the United States of America (“GAAP”) for certain loan modifications that would otherwise be categorized as a troubled debt restructuring (“TDR”) and (2) any determination that such loan modifications would be considered a TDR, including the related impairment for accounting purposes. The suspension is applicable for the term of a loan modification that occurs during the applicable period for a loan that was not more than 30 days past due as of December 31, 2019. The suspension is available only to borrowers affected by the pandemic. Paycheck Protection Program – The CARES Act of 2020 established the Paycheck Protection Program (“PPP”), an expansion of the Small Business Administration’s (the “SBA”) 7(a) loan program and the Economic Injury Disaster Loan Program, administrated directly by the SBA. Mortgage Forbearance – Under the CARES Act of 2020 mortgage customers with federally backed single family loans experiencing financial hardship due to COVID-19 may request forbearance on the loan for up to 180 days, with up to an additional 180 days at the borrower’s request, for a total of 360 days. In addition, customers with federally backed multifamily loans experiencing financial hardship due to COVID-19 may request forbearance on the loan for up to 30 days, with up to two additional 30-day periods at the borrower’s request. Main Street Lending Program – The Federal Reserve Board (the “FED”) established the Main Street Lending Program under the CARES Act of 2020 to support lending to small and medium-sized businesses that were in sound financial condition before the onset of the COVID-19 pandemic. Also in response to the COVID-19 pandemic, the Board of Governors of the Federal Reserve System (“FRB”), the FDIC, the National Credit Union Administration (“NCUA”), the Office of the Comptroller of the Currency (“OCC”), and the CFPB, in consultation with state financial regulators (collectively, the “agencies”), issued a joint interagency statement on March 22, 2020, which they revised on April 7, 2020, called the Revised Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus (the “Revised Interagency Statement”). Some of the provisions applicable to the Corporation include, but are not limited to: Accounting for Loan Modifications – Loan modifications that do not meet the conditions of the CARES Act of 2020 may still qualify as a modification that does not need to be accounted for as a TDR. The agencies, in consultation with the Financial Accounting Standards Board (“FASB”) staff, confirmed that short-term modifications made on a good faith basis in response to COVID-19 to borrowers who are current prior to any relief are not TDRs. This includes short-term (e.g., up to six months) modifications, such as payment deferrals, fee waivers, extensions of repayment terms, or insignificant delays in payments. The Corporation’s loan modifications were made in accordance with Section 4013 of the CARES Act of 2020 and/or the Revised Interagency Statement and therefore were not classified as TDRs. The extent to which the COVID-19 pandemic impacts the Corporation’s business, asset valuations, results of operations, and financial condition, as well as its regulatory capital and liquidity positions, will depend on future developments, which are highly uncertain and cannot be accurately predicted, including the scope and duration of the COVID-19 pandemic and the actions taken by governmental authorities and other third parties in response to the COVID-19 pandemic and the associated impacts on the economy, financial markets and our clients, employees and vendors. Material adverse impacts may include all or a combination of valuation impairments on our intangible assets, investments, increased reserves for credit losses, and deferred tax assets. Given the fluidity of the situation, management cannot estimate the long term impact of the COVID-19 pandemic at this time. General The accompanying consolidated audited financial statements have been prepared in conformity with GAAP. The following is a description of the Corporation’s most significant accounting policies. Principles of consolidation The consolidated financial statements include the accounts of the Corporation and its subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. Statutory business trusts that are wholly-owned by the Corporation and are issuers of trust-preferred securities (“TRuPs”), and entities in which the Corporation has a non-controlling interest, are not consolidated in the Corporation’s consolidated financial statements in accordance with authoritative guidance issued by the FASB for consolidation of variable interest entities (“VIE”). See “Variable Interest Entities” below for further details regarding the Corporation’s accounting policy for these entities . Reclassifications In connection with the adoption of ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” (“ASC 326”), the provision for unfunded loan commitments, which was previously presented as part of other non-interest expense, was reclassified and is now presented separately as a component of the provision for credit losses in the consolidated statements of income. For purposes of comparability, amounts prior to 2020 have been reclassified to conform to the current presentation. Use of estimates in the preparation of financial statements The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and contingent liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and cash equivalents For purposes of reporting cash flows, cash and cash equivalents include cash on hand, cash items in transit, and amounts due from the Federal Reserve Bank of New York (the “Federal Reserve”) and other depository institutions. The term also includes money market funds and short-term investments with original maturities of three months or less. Investment securities The Corporation classifies its investments in debt and equity securities into one of four categories: Held-to-maturity — Debt s ecurities 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 December 31, 2020, and 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 the Corporation owns 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 mortgage-backed securities (“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 payment becomes 90 days delinquent. Interest accrued but not received for a security placed on non-accrual is reversed against interest income. No debt security was in a nonaccrual status as of December 31, 2020 and 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 December 31, 2020, the held-to-maturity securities portfolio consisted of Puerto Rico municipal bonds totaling $ 189.5 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 Securities and Exchange Commission (“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 $ 3.6 million as of December 31, 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 ($ 8.8 million as of December 31, 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, or 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 (a “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 year ended December 31, 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 earnings. 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 December 31, 2020 amounted to $ 1.3 million. Available-for-sale debt securities held by the Corporation at year-end primarily consisted of securities issued by U.S. government-sponsored entities (“GSEs”), private label MBS, and a bond 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. For the year ended December 31, 2020, the Corporation’s credit loss-impairment assessment was concentrated on private label MBS and the PRHFA debt security. 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 30 – Fair Value, to the consolidated financial statements. Accrued interest receivable on available-for-sale debt securities totaled $ 8.5 million as of December 31, 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 $ 57.2 million as of December 31, 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 insured or 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 $ 1.9 million for the year ended December 31, 2020. Interest income on nonaccrual loans is recognized only to the extent it is received in cash. However, when there is doubt regarding the ultimate collectability of loan principal, all cash thereafter received is applied to reduce the carrying value of such loans ( 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 or more monthly payments. 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 interest method. Additionally, upon the purchase or acquisition of non-PCD loans, the Corporation measures and records an ACL based on the Corporation’s methodology for determining the ACL. The ACL for non-PCD loans is recorded through a charge to the provision for credit losses in the period in which the loans are purchased or acquired. Acquired loans that are classified as PCD are recognized at fair value, which includes any resulting premiums or discounts. Premiums and non-credit loss related discounts are amortized or accreted into interest income over the remaining life of the loan using the interest method. Unlike non-PCD loans, the initial ACL for PCD loans is established through an adjustment to the acquired loan balance and not through a charge to the provision for credit losses in the period in which the loans were acquired. At acquisition, the ACL for PCD loans, which represents the fair value credit discount, is determined using a discounted cash flow method that considers the PDs and LGDs used in the Corporation’s ACL methodology. Characteristics of PCD loans include: delinquency, payment history since origination, credit scores migration and/or other factors the Corporation may become aware of through its initial analysis of acquired loans that may indicate there has been more than insignificant deterioration in credit quality since a loan’s origination. In connection with the BSPR acquisition on September 1, 2020, the Corporation acquired PCD loans with an aggregate fair value at acquisition of approximately $ 752.8 million, and recorded an initial ACL of approximately $ 28.7 million, which was added to the amortized cost of the loans. Subsequent to acquisition, the ACL for both non-PCD and PCD loans is determined pursuant to the Corporation’s ACL methodology in the same manner as all other loans. For PCD loans that prior to the adoption of ASC 326 were classified as purchased credit impaired (“PCI”) loans and accounted for under the FASB’s Accounting Standards Codification (the “Codification” or “ASC”) Subtopic 310-30, “Accounting for Purchased Loans Acquired with Deteriorated Credit Quality” (ASC Subtopic 310-30), the Corporation adopted ASC 326 using the prospective transition approach. As allowed by ASC 326, the Corporation elected to maintain pools of loans accounted for under ASC Subtopic 310-30 as “units of accounts,” conceptually treating each pool as a single asset. As of December 31, 2020, such PCD loans consisted of $ 128.4 million of residential mortgage loans and $ 2.5 million of commercial mortgage loans acquired by the Corporation as part of previously completed asset acquisitions. These previous transactions include a transaction completed on February 27, 2015, in which FirstBank acquired 10 Puerto Rico branches of Doral Bank, acquired certain assets, including PCD loans, and assumed deposits, through an alliance with Banco Popular of Puerto Rico, which was the successful lead bidder with the FDIC on the failed Doral Bank, as well as other co-bidders, and the acquisition from Doral Financial in the first quarter of 2014 of all of its rights, title and interest in first and second residential mortgage loans in full satisfaction of secured borrowings owed by such entity to FirstBank. As the Corporation elected to maintain pools of units of account for loans previously accounted for under ASC Subtopic 310-30, the Corporation is not able to remove loans from the pools until they are paid off, written off or sold (consistent with the Corporation’s practice prior to adoption of ASC 326), but is required to follow ASC 326 for purposes of the ACL. Regarding interest income recognition for PCD loans that existed at the time of adoption of ASC 326, the prospective transition approach for PCD loans required by ASC 326 was applied at a pool level, which froze the effective interest rate of the pools as of January 1, 2020. According to regulatory guidance, the determination of nonaccrual or accrual status for PCD loans that the Corporation has elected to maintain in previously existing pools pursuant to the policy election right upon adoption of ASC 326 should be made at the pool level, not the individual asset level. In addition, the guidance provides that the Corporation can continue accruing interest and not report the PCD loans as being in nonaccrual status if the following criteria are met: (i) the Corporation can reasonably estimate the timing and amounts of cash flows expected to be collected, and (ii) the Corporation did not acquire the asset primarily for the rewards of ownership of the underlying collateral, such as use of the collateral in operations or improving the collateral for resale. Thus, the Corporation continues to exclude these pools of PCD loans from nonaccrual loan statistics. In accordance with ASC 326, the Corporation did not reassess whether modifications to individual acquired loans accounted for within pools were TDR as of the date of adoption. Charge-off of Uncollectible Loans - Net charge-offs consist of the unpaid principal balances of loans held for investment that the Corporation determines are uncollectible, net of recovered amounts. The Corporation records charge-offs as a reduction to the ACL and subsequent recoveries of previously charged-off amounts are credited to the ACL. Collateral dependent loans in the construction, commercial mortgage, and commercial and industrial loan portfolios are charged off to their net realizable value (fair value of collateral, less estimated costs to sell) when loans are considered to be uncollectible. Within the consumer loan portfolio, auto loans and finance leases are reserved once they are 120 days delinquent and are charged off to their estimated net realizable value when the collateral deficiency is deemed uncollectible ( i.e. , when foreclosure/repossession is |
BUSINESS COMBINATION
BUSINESS COMBINATION | 12 Months Ended |
Dec. 31, 2020 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | 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, a corporation incorporated under the laws of the Commonwealth of Puerto Rico and the sole shareholder of Santander Insurance Agency, Inc. The preliminary consideration for the acquisition amounted to approximately (i) $387.8 million for 117.5% of BSPR’s core tangible common equity, comprised of a $57.8 million premium on $330 million of core tangible common equity, plus (ii) $892.2 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., Santander Bancorp’s parent, 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 consumer, 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. Since the acquisition, the Corporation has made a net adjustment to goodwill of approximately $ 4.2 million, primarily related to post-closing purchase price adjustments to account for differences between BSPR’s actual excess capital at closing date compared to the BSPR’s excess capital amount used for the preliminary closing statement at acquisition date, and may in the future make further adjustments to goodwill. The following table summarizes the preliminary consideration and estimated fair values of assets acquired and liabilities assumed from BSPR as of September 1, 2020 under the acquisition method of accounting: Fair Value as Originally Measurement Period Fair Value as (In thousands) Recorded Adjustments Remeasured Total purchase price consideration $ 1,277,626 $ 2,798 $ 1,280,424 Fair value of assets acquired: Cash and cash equivalents $ 1,684,252 $ - $ 1,684,252 Investment securities 1,167,225 - 1,167,225 Residential mortgage loans 807,637 ( 216) 807,421 Commercial mortgage loans 740,919 - 740,919 Commercial and Industrial loans 752,154 - 752,154 Consumer loans 214,206 - 214,206 Loans, net 2,514,916 ( 216) 2,514,700 Premises and equipment, net 12,499 - 12,499 Intangible assets 39,232 - 39,232 Other assets 144,008 ( 352) 143,656 Total assets and identifiable intangible assets acquired 5,562,132 ( 568) 5,561,564 Fair value of liabilities assumed: Deposits $ 4,194,940 $ - $ 4,194,940 Other liabilities 95,869 865 96,734 Total liabilities assumed 4,290,809 865 4,291,674 Fair value of net assets and identifiable intangible assets acquired 1,271,323 ( 1,433) 1,269,890 Goodwill $ 6,303 $ 4,231 $ 10,534 The application of the acquisition method of accounting resulted in goodwill of $ 10.5 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 December 31, 2020, the purchase price remains subject to final adjustments as certain estimates related to the acquired loan portfolio, intangible assets, and certain other assets and liabilities are subject to continuing refinement. 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. Management anticipates that this review could result in adjustments to the acquisition date valuation amounts presented herein but does not anticipate that these adjustments, if any, would be material. 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 values 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 a contractual balance of $ 67.1 million as of the acquisition date. 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 Corporation calculated the fair value of loans acquired in the BSPR acquisition 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 $ 752.8 million, respectively, as of the acquisition date and a contractual balance of $ 1.8 billion and $ 786.0 million, respectively, as of the same date. In accordance with U.S. GAAP, there was no carryover of the ACL that had been previously recorded by BSPR. The Corporation recorded an initial 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 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 5.7years. Purchased credit card receivable intangible (“PCCR”) – PCCR is 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 maturity buckets for the time deposits established in the valuation determination. 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 for intangible assets, as well as the impact of fair value adjustments to loans and deposits. In addition, the initial ACL for non-PCD loans acquired from BSPR of approximately $ 38.9 million recorded in the year ended December 31, 2020 was eliminated as a pro forma adjustment to the net income in 2020 given the pro forma assumes the acquisition occurred on January 1, 2019, where the recognition of the adjustment related to the adoption of CECL on January 1, 2020 would have been recorded as a cumulative effect adjustment to retained earnings rather-than in earnings for the year ended December 31, 2020. 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 Year Ended Year Ended December 31, December 31, (In thousands) 2020 2019 Net interest income $ 722,556 $ 789,938 Non-interest income 132,180 129,303 Net income 183,972 213,311 Pro-forma earnings for the year ended December 31, 2020 were adjusted to exclude the $ 26.5 million and $ 2.0 million of merger and restructuring costs incurred by the Corporation and BSPR, respectively, in 2020. Pro-forma earnings for the year ended December 31, 2019 were adjusted to include these costs. Disclosure of the amount of revenue and net income of BSPR since the effective date of the acquisition included in the Corporation’s consolidated statements of income is impracticable due to the integration of operations and accounting for mergers and acquisitions. Merger and Restructuring Costs Upon completion of the acquisition, the Corporation began to integrate 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 and third quarters of 2021. Management is still 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 $ 37.9 million through December 31, 2020, of which $ 26.5 million and $ 11.4 million were incurred during the years ended December 31, 2020 and 2019, respectively. Acquisition expenses were included in merger and restructuring costs in the consolidated statements of income, and consisted primarily of legal fees, severance and personnel-related costs, valuation services, systems conversion, and other integration efforts. |
RESTRICTIONS ON CASH AND DUE FR
RESTRICTIONS ON CASH AND DUE FROM BANKS | 12 Months Ended |
Dec. 31, 2020 | |
Restricted Cash and Cash Equivalents [Abstract] | |
Restrictions on Cash and Due from Banks [Text Block] | NOTE 3 – RESTRICTIONS ON CASH AND DUE FROM BANKS The Corporation’s bank subsidiary, FirstBank, is required by law to maintain minimum average weekly reserve balances to cover demand deposits. The amount of those minimum average weekly reserve balances for the period that ended December 31, 2020 was $ 883.8 million (2019 - $ 422.1 million). As of December 31, 2020 and 2019, the Bank complied with the requirement. Cash and due from banks as well as other highly liquid securities are used to cover the required average reserve balances. As of December 31, 2020, and as required by the Puerto Rico International Banking Law, the Corporation maintained $ 300,000 in time deposits, which were considered restricted assets related to FirstBank Overseas Corporation, an international banking entity that is a subsidiary of FirstBank. |
MONEY MARKET INVESTMENTS
MONEY MARKET INVESTMENTS | 12 Months Ended |
Dec. 31, 2020 | |
Cash and Cash Equivalents, at Carrying Value [Abstract] | |
Money Market Investments [Text Block] | NOTE 4 – MONEY MARKET INVESTMENTS Money market investments are composed of time deposits, overnight deposits with other financial institutions, and other short-term investments with original maturities of three months or less. Money market investments as of December 31, 2020 and 2019 were as follows: 2020 2019 (Dollars in thousands) Time deposits with other financial institutions (1) (2) $ 300 $ 300 Overnight deposits with other financial institutions (3) 59,091 96,228 Other short-term investments (4) 1,181 1,180 $ 60,572 $ 97,708 Consists of restricted time deposits required by the Puerto Rico International Banking Law. Weighted-average interest rate of 0.45% and 1.00 % as of December 31, 2020 and 2019, respectively. Weighted-average interest rate of 0.15% and 1.63% as of December 31, 2020 and 2019, respectively. Weighted-average interest rate of 0.11% as of each December 31, 2020 and 2019. As of December 31, 2020 and 2019, the Corporation had no money market investments pledged as collateral. |
INVESTMENT SECURITIES
INVESTMENT SECURITIES | 12 Months Ended |
Dec. 31, 2020 | |
Investments, Debt and Equity Securities [Abstract] | |
INVESTMENT SECURITIES [Text Block] | NOTE 5 – INVESTMENT SECURITIES Investment Securities Available for Sale The amortized cost, gross unrealized gains and losses recorded in OCI, ACL, estimated fair value, and weighted-average yield of investment securities available for sale by contractual maturities as of December 31, 2020 were as follows: December 31, 2020 Amortized cost Gross ACL Fair value Unrealized Weighted- Gains Losses average yield% (Dollars in thousands) U.S. Treasury securities: Due within one year $ 7,498 $ 9 $ - $ - $ 7,507 1.65 U.S. government-sponsored agencies' obligations: Due within one year 24,413 273 - - 24,686 1.95 After 1 to 5 years 691,668 911 290 - 692,289 0.57 After 5 to 10 years 441,454 821 347 - 441,928 0.83 After 10 years 21,413 - 149 - 21,264 0.65 Puerto Rico government obligations: After 10 years (1) 3,987 - 780 308 2,899 6.97 United States and Puerto Rico government obligations 1,190,433 2,014 1,566 308 1,190,573 0.72 MBS: FHLMC certificates: After 1 to 5 years 75 8 - - 83 4.86 After 5 to 10 years 60,773 2,850 - - 63,623 2.15 After 10 years 1,070,984 15,340 159 - 1,086,165 1.38 1,131,832 18,198 159 - 1,149,871 1.42 GNMA certificates: Due within one year 1 - - - 1 1.93 After 1 to 5 years 26,918 1,080 - - 27,998 2.91 After 5 to 10 years 40,727 128 69 - 40,786 0.42 After 10 years 614,584 16,271 148 - 630,707 1.27 682,230 17,479 217 - 699,492 1.29 FNMA certificates: After 1 to 5 years 24,812 891 - - 25,703 2.81 After 5 to 10 years 110,832 5,783 - - 116,615 2.13 After 10 years 1,154,707 23,459 203 - 1,177,963 1.53 1,290,351 30,133 203 - 1,320,281 1.61 Collateralized mortgage obligations issued or guaranteed by the FHLMC FNMA and GNMA: After 1 to 5 years 538 - 1 - 537 0.81 After 5 to 10 years 18,438 152 - - 18,590 0.80 After 10 years 258,069 1,019 491 - 258,597 1.56 277,045 1,171 492 - 277,724 1.51 Private label: After 10 years 12,310 - 2,880 1,002 8,428 2.25 Total MBS 3,393,768 66,981 3,951 1,002 3,455,796 1.47 Other After 1 to 5 years 650 - - - 650 2.94 Total investment securities available for sale $ 4,584,851 $ 68,995 $ 5,517 $ 1,310 $ 4,647,019 1.28 Consists of a residential pass-through MBS issued by the PRHFA that is collateralized by certain second mortgages originated under a program launched by the Puerto Rico government in 2010. 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 Fair value Unrealized 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 Consists of a residential pass-through MBS issued by the PRHFA that is collateralized by certain second mortgages originated under a program launched by the Puerto Rico government in 2010. 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 aggregate amortized cost and approximate market value of investment securities available for sale as of December 31, 2020 by contractual maturity are shown below: Amortized Cost Fair Value (Dollars in thousands) United States and Puerto Rico government obligations, and other debt securities: Within 1 year $ 31,911 $ 32,193 After 1 to 5 years 692,318 692,939 After 5 to 10 years 441,454 441,928 After 10 years 25,400 24,163 1,191,083 1,191,223 MBS and collateralized mortgage obligations (1) 3,393,768 3,455,796 Total investment securities available for sale $ 4,584,851 $ 4,647,019 (1) The expected maturities of MBS and collateralized mortgage obligations may differ from their contractual maturities because they may be subject to prepayments. 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 December 31, 2020 and December 31, 2019. The tables also include debt securities for which an ACL was recorded as of December 31, 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 December 31, 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 $ - $ - $ 2,899 $ 780 $ 2,899 $ 780 U.S. Treasury and U.S. government agencies’ obligations 425,155 621 23,377 165 448,532 786 MBS: FNMA 93,509 203 - - 93,509 203 FHLMC 89,292 159 - - 89,292 159 GNMA 70,504 217 - - 70,504 217 Collateralized mortgage obligations issued or guaranteed by the FHLMC, FNMA and GNMA 104,500 410 9,761 82 114,261 492 Private label MBS - - 8,428 2,880 8,428 2,880 $ 782,960 $ 1,610 $ 44,465 $ 3,907 $ 827,425 $ 5,517 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 agencies’ 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 2020, proceeds from sales of available-for-sale investment securities amounted to $ 1.2 billion, including gross realized gains of $ 13.3 million and gross realized losses of $ 0.1 million. The $ 13.2 million net gain was realized on tax-exempt securities or was realized at the tax-exempt international banking entity subsidiary, which had no effect on the income tax expense recorded during the year ended December 31, 2020. There were no sales of securities available for sale during 2019. During 2018, total proceeds from the sale of available-for-sale investment securities amounted to $ 47.8 million. For the year ended December 31, 2018, the Corporation recorded a loss of approximately $ 59 thousand on the sale of U.S. agencies MBS and a gain of approximately $ 22 thousand on the sale of the U.S. agency callable debt securities. 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 December 31, 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 December 31, 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 a 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 $ 8.4 million, which had unrealized losses of approximately $ 3.9 million as of December 31, 2020 of which $ 1.0 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 December 31, 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 December 31, 2020 December 31, 2019 Weighted Range Weighted Range Average Minimum Maximum Average Minimum Maximum Discount rate 12.2% 12.2% 12.2% 13.7% 13.7% 13.7% Prepayment rate 12.1% 1.2% 18.8% 7.9% 6.8% 10.3% Projected Cumulative Loss Rate 10.2% 2.6% 22.3% 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 December 31, 2020, the ACL for these private label MBS was $ 1.0 million, consisting of a $ 1.3 million provision recorded in 2020 and charge-offs amounting to $ 0.3 million taken against the reserve in the second half of 2020. The ACL established was based on a decline in the present value of expected cash flows taking into consideration the effect of forecasted economic conditions affected by the COVID-19 pandemic. As of December 31, 2020, the Corporation’s available-for-sale investment securities portfolio also included a residential pass-through MBS issued by the PRHFA, collateralized by certain second mortgages, with a fair value of $ 2.9 million, which had an unrealized loss of approximately $ 1.1 million. Approximately $ 0.3 million of the unrealized losses 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 considered 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 December 31, 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 year ended December 31, 2020 of the ACL on debt securities available-for-sale: Year Ended December 31, 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) 1,333 - 1,333 Net charge-offs ( 331) - ( 331) ACL on debt securities available-for-sale $ 1,002 $ 308 $ 1,310 During the years ended December 31, 2019 and 2018, the Corporation recorded OTTI losses on available-for-sale debt securities as follows: 2019 2018 (In thousands) Total OTTI losses $ ( 557) $ - Portion of OTTI recognized in OCI 60 ( 50) Net impairment losses recognized in earnings (1) $ ( 497) $ ( 50) 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. The following table states the names of issuers, and the aggregate amortized cost and market value of the securities of such issuers, when the aggregate amortized cost of such securities exceeds 10% of the Corporation’s stockholders’ equity. This information excludes securities of the U.S. and Puerto Rico governments. Investments in obligations issued by a state of the U.S. and its political subdivisions and agencies that are payable and secured by the same source of revenue or taxing authority, other than the U.S. government, are considered securities of a single issuer and include debt securities and MBS. As of As of December 31, 2020 December 31, 2019 Amortized Amortized Cost Fair Value Cost Fair Value (In thousands) FHLMC $ 1,502,614 $ 1,520,819 $ 509,769 $ 513,249 GNMA 850,384 868,070 370,511 377,872 FNMA 1,662,145 1,692,172 915,704 924,663 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 December 31, 2020 and December 31, 2019 were as follows : December 31, 2020 Amortized cost Fair value Gross Unrecognized Weighted- (Dollars in thousands) Gains Losses ACL average yield% Puerto Rico municipal bonds: Due within one year $ 556 $ 7 $ - $ 563 $ - 5.41 After 1 to 5 years 17,297 561 305 17,553 576 3.00 After 5 to 10 years 88,394 1,388 3,146 86,636 4,401 4.66 After 10 years 83,241 - 14,187 69,054 3,868 3.57 Total investment securities held to maturity $ 189,488 $ 1,956 $ 17,638 $ 173,806 $ 8,845 4.03 December 31, 2019 Amortized cost Fair value Gross Unrecognized Weighted- (Dollars in thousands) Gains Losses 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 December 31, 2020 and December 31, 2019, including debt securities for which an ACL was recorded as of December 31, 2020: As of December 31, 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 $ 28,252 $ 1,611 $ 116,216 $ 16,027 $ 144,468 $ 17,638 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 – Nature of Business and Summary of 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 December 31, 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 $ 8.8 million as of December 31, 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 $ 0.6 The following table presents the activity in the ACL for debt securities held to maturity by major security type for the year ended December 31, 2020: Puerto Rico Municipal Bonds Year Ended December 31, 2020 (In thousands) Beginning Balance $ - Impact of adopting ASC 326 8,134 Initial allowance on PCD debt securities 1,269 Provision (release) for credit losses ( 558) $ 8,845 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. The following table reconciles the difference between the purchase price of the PCD held-to-maturity debt securities acquired in conjunction with 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 ACL 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 the Puerto Rico Oversight, Management, and Economic Stability Act (“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 December 31, 2020 and 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 – Nature of Business and Summary of 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, based on 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 depends 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 December 31, 2020 and 2019, aggregated by credit quality indicator: Held to Maturity Puerto Rico Municipal Bonds December 31, December 31 (In thousands) 2020 2019 Risk Ratings: Pass $ 189,488 $ 138,675 Criticized: Special Mention - - Substandard - - Doubtful - - Loss - - Total $ 189,488 $ 138,675 No held-to-maturity debt securities were on nonaccrual status, 90 days past due and still accruing, or past due as of December 31, 2020 and 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 | 12 Months Ended |
Dec. 31, 2020 | |
Investments, All Other Investments [Abstract] | |
Other Investment Securities [Text Block] | 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 December 31, 2020 and 2019, the Corporation had investments in FHLB stock carried at a cost of $ 31.2 million and $ 34.1 million, respectively. Dividend income from FHLB stock for the years ended December 31, 2020, 2019, and 2018 amounted to $ 2.0 million, $ 2.7 million, and $ 2.1 million, 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 December 31, 2020 and 2019, the Corporation owned other equity securities with a readily determinable fair value of approximately $ 1.5 million and $ 1.4 million, respectively. During 2020, the Corporation recognized a marked-to-market gain of $ 38 thousand associated with these securities, which was recorded as part of other non-interest income in the consolidated statements of income, compared to a $ 0.4 9 4.9 million and $ 2.8 million, respectively. |
INTEREST AND DIVIDEND ON INVEST
INTEREST AND DIVIDEND ON INVESTMENTS | 12 Months Ended |
Dec. 31, 2020 | |
Investment Income, Interest and Dividend [Abstract] | |
Interest and Dividend on Investments [Text Block] | The following provides information about interest on investments, interest-bearing cash accounts, and FHLB dividend income: Year Ended December 31, 2020 2019 2018 (In thousands) MBS: Taxable $ 9,404 $ 7,812 $ 8,688 Exempt (1) 30,877 29,232 27,741 40,281 37,044 36,429 Puerto Rico government obligations, U.S. Treasury securities, and U.S. government agencies: Taxable 1,032 165 470 Exempt (1) 15,235 19,623 20,582 16,267 19,788 21,052 Other investment securities (including FHLB dividends) Taxable 1,999 2,714 2,743 Total interest income on investment securities 58,547 59,546 60,224 Interest on money market investments and interest-bearing cash accounts: Taxable 3,386 13,205 10,863 Exempt 2 148 233 Total interest income on money market investments and interest-bearing cash accounts 3,388 13,353 11,096 Total interest and dividend income on investment securities, money market investments, and interest-bearing cash accounts $ 61,935 $ 72,899 $ 71,320 (1) Primarily MBS and government obligations held by International Banking Entities (as defined in the International Baking Entity Act of Puerto Rico), whose interest income and sales are exempt from Puerto Rico income taxation under that act. The following table summarizes the components of interest and dividend income on investments: Year Ended December 31, 2020 2019 2018 (In thousands) Interest income on investment securities, money market investments, and interest-bearing cash accounts $ 59,976 $ 70,217 $ 68,592 Dividends on FHLB stock 1,959 2,682 2,728 Total interest income and dividends on investments $ 61,935 $ 72,899 $ 71,320 |
LOANS HELD FOR INVESTMENT
LOANS HELD FOR INVESTMENT | 12 Months Ended |
Dec. 31, 2020 | |
Receivables [Abstract] | |
Financing Receivables [Text Block] | NOTE 8 – LOANS HELD FOR INVESTMENT The following provides information about the loan portfolio held for investment as of the indicated dates: As of December 31, As of December 31, 2020 2019 (In thousands) Residential mortgage loans, mainly secured by first mortgages $ 3,521,954 $ 2,933,773 Construction loans 212,500 111,317 Commercial mortgage loans 2,230,602 1,444,586 C&I loans (1) (2) 3,202,590 2,230,876 Consumer loans 2,609,643 2,281,653 Loans held for investment (3)(4) 11,777,289 9,002,205 ACL on loans and finance leases ( 385,887) ( 155,139) Loans held for investment, net $ 11,391,402 $ 8,847,066 As of December 31, 2020, includes $ 406.0 million of SBA Paycheck Protection Program (“SBA PPP”) loans. As of December 31, 2020 and 2019, includes $ 1.0 billion and $ 719.0 million, respectively, of commercial loans that were secured by real estate but were 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 $ 48.0 million and $ 15.1 million as of December 31, 2020 and 2019, respectively. As of December 31, 2020, and 2019, the Corporation had net deferred origination costs on its loan portfolio amounting to $ 4.6 million and $ 9.2 million, respectively. The total loan portfolio is net of unearned income of $ 65.8 million and $ 63.8 million as of December 31, 2020 and 2019, respectively. As of December 31, 2020, the Corporation was servicing residential mortgage loans owned by others in an aggregate amount of $ 4.2 billion (2019 — $ 3.1 billion), and commercial loan participations owned by others in an aggregate amount of $ 422.0 million as of December 31, 2020 (2019 — $ 267.6 million). Various loans, mainly secured by first mortgages, were assigned as collateral for CDs, individual retirement accounts, and advances from the FHLB. Total loans pledged as collateral amounted to $ 2.5 billion and $ 1.8 billion as of December 31, 2020 and 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 December 31, 2020 and 2019 and the interest income recognized on nonaccrual loans for the year ended December 31, 2020: As of December 31, 2020 Year Ended December 31, 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 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 $ - $ - $ - $ 98,993 $ - $ - $ 81,011 Conventional residential mortgage loans 12,418 98,527 110,945 38,834 1,050 108,117 40,208 Construction loans 4,546 8,425 12,971 - 80 9,782 - Commercial mortgage loans 11,777 17,834 29,611 3,252 194 40,076 2,222 C&I loans 14,824 5,496 20,320 2,246 86 18,458 7,061 Consumer Loans: Auto loans 26 8,638 8,664 - 164 12,057 - Finance leases - 1,466 1,466 - 25 1,354 - Personal loans - 1,623 1,623 - 49 1,523 - Credit cards - - - 1,520 - - 4,411 Other consumer loans - 3,682 3,682 - 5 5,016 - Total loans held for investment (1) $ 43,591 $ 145,691 $ 189,282 $ 144,845 $ 1,653 $ 196,383 $ 134,913 Nonaccrual loans exclude $ 386.7 million and $ 388.4 million of TDR loans that were in compliance with modified terms and in accrual status as of December 31, 2020 and 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 December 31, 2020 and 2019 was $ 130.9 million and $ 136.7 million, respectively These include loans rebooked, which were previously pooled into GNMA securities amounting to $ 10.7 million and $ 35.3 million as of December 31, 2020 and 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 year ended December 31, 2020, the Corporation repurchased, pursuant to the aforementioned repurchase option, $ 55.0 million of loans previously sold to GNMA. As of December 31, 2020 Year Ended December 31, 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 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 2,584 11,838 14,422 - 285 13,291 - Construction loans - - - - - - - Commercial mortgage loans - - - - - - - C&I loans 561 - 561 - 71 315 - Consumer Loans: Auto loans - 223 223 - 12 163 - Finance leases - - - - - - - Personal loans - - - - - 5 - Credit cards - - - - - - - Other consumer loans - 601 601 - 8 511 - Total loans held for investment (1) $ 3,145 $ 12,662 $ 15,807 $ 250 $ 376 $ 14,285 $ 129 Nonaccrual loans exclude $ 6.6 million and $ 9.9 million of TDR loans that were in compliance with modified terms and in accrual status as of December 31, 2020 and 2019, respectively. As of December 31, 2020 Year Ended December 31, 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 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 $ - $ - $ - $ 99,243 $ - $ - $ 81,140 Conventional residential mortgage loans 15,002 110,365 125,367 38,834 1,335 121,408 40,208 Construction loans 4,546 8,425 12,971 - 80 9,782 - Commercial mortgage loans 11,777 17,834 29,611 3,252 194 40,076 2,222 C&I loans 15,385 5,496 20,881 2,246 157 18,773 7,061 Consumer Loans: Auto loans 26 8,861 8,887 - 176 12,220 - Finance leases - 1,466 1,466 - 25 1,354 - Personal loans - 1,623 1,623 - 49 1,528 - Credit cards - - - 1,520 - - 4,411 Other consumer loans - 4,283 4,283 - 13 5,527 - Total loans held for investment (1) $ 46,736 $ 158,353 $ 205,089 $ 145,095 $ 2,029 $ 210,668 $ 135,042 Nonaccrual loans exclude $ 393.3 million and $ 398.3 million of TDR loans that were in compliance with modified terms and in accrual status as of December 31, 2020 and 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 December 31, 2020 and 2019 was $ 130.9 million and $ 136.7 million, respectively. These include loans rebooked, which were previously pooled into GNMA securities amounting to $ 10.7 million and $ 35.3 million as of December 31, 2020 and 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 year ended December 31, 2020, the Corporation repurchased, pursuant to the aforementioned repurchase option, $ 55.0 million of loans previously sold to GNMA. As of December 31, 2020, the recorded investment on residential mortgage loans collateralized by residential real estate property that were in the process of foreclosure amounted to $ 172.3 million, including $ 59.0 million of loans insured by the FHA or guaranteed by the VA, and $ 18.6 million of PCD loans acquired prior 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 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 December 31, 2020 is as follows: As of December 31, 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)(3) 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) $ - $ 2,223 $ 98,993 $ 101,216 $ 48,348 $ 149,564 Conventional residential mortgage loans (4) - 61,040 149,779 210,819 2,641,820 2,852,639 Commercial loans: Construction loans (4) - 19 12,971 12,990 72,026 85,016 Commercial mortgage loans (4) 5,071 6,588 32,863 44,522 1,808,702 1,853,224 C&I loans 3,283 10,692 22,566 36,541 2,228,190 2,264,731 Consumer loans: Auto loans 24,025 5,992 8,664 38,681 1,239,445 1,278,126 Finance leases 5,059 1,086 1,466 7,611 465,378 472,989 Personal loans 4,034 1,981 1,623 7,638 364,373 372,011 Credit cards 3,528 5,842 1,518 10,888 308,936 319,824 Other consumer loans 2,143 993 3,684 6,820 133,162 139,982 Total loans held for investment $ 47,143 $ 96,456 $ 334,127 $ 477,726 $ 9,310,380 $ 9,788,106 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 $ 57.9 million of residential mortgage loans insured by the FHA that were over 15 months delinquent. As of December 31, 2020, includes $ 10.7 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, but less than two payments in arrears, as of December 31, 2020 amounted to $ 5.9 million, $ 105.2 million, $ 5.0 million, and $ 0.1 million, respectively. As of December 31,2020 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) (3) $ - $ - $ 250 $ 250 $ 920 $ 1,170 Conventional residential mortgage loans (3) - 3,237 14,422 17,659 500,922 518,581 Commercial loans: Construction loans - - - - 127,484 127,484 Commercial mortgage loans - - - - 377,378 377,378 C&I loans 218 - 561 779 937,080 937,859 Consumer loans: Auto loans 710 297 223 1,230 17,068 18,298 Finance leases - - - - - - Personal loans - - - - 157 157 Credit cards - - - - - - Other consumer loans 58 - 601 659 7,597 8,256 Total loans held for investment $ 986 $ 3,534 $ 16,057 $ 20,577 $ 1,968,606 $ 1,989,183 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 December 31, 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 and conventional residential mortgage loans past due 30-59 days, but less than two payments in arrears, as of December 31, 2020 amounted to $ 0.2 million and $ 6.6 million, respectively. As of December 31, 2020 Total 30-59 Days Past Due 60-89 Days Past Due 90 days or more Past Due (1)(2)(3) 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) $ - $ 2,223 $ 99,243 $ 101,466 $ 49,268 $ 150,734 Conventional residential mortgage loans (4) - 64,277 164,201 228,478 3,142,742 3,371,220 Commercial loans: Construction loans (4) - 19 12,971 12,990 199,510 212,500 Commercial mortgage loans (4) 5,071 6,588 32,863 44,522 2,186,080 2,230,602 C&I loans 3,501 10,692 23,127 37,320 3,165,270 3,202,590 Consumer loans: Auto loans 24,735 6,289 8,887 39,911 1,256,513 1,296,424 Finance leases 5,059 1,086 1,466 7,611 465,378 472,989 Personal loans 4,034 1,981 1,623 7,638 364,530 372,168 Credit cards 3,528 5,842 1,518 10,888 308,936 319,824 Other consumer loans 2,201 993 4,285 7,479 140,759 148,238 Total loans held for investment $ 48,129 $ 99,990 $ 350,184 $ 498,303 $ 11,278,986 $ 11,777,289 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 $ 57.9 million of residential mortgage loans insured by the FHA that were over 15 months delinquent. As of December 31, 2020, includes $ 10.7 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, but less than two payments in arrears, as of December 31, 2020 amounted to $ 6.1 million, $ 111.8 million, $ 5.0 million, and $ 0.1 million, respectively. The Corporation’s aging of the loan portfolio held for investment by portfolio classes as of December 31, 2019 was 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)(3) 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 (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 C&I 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, but less than two payments in arrears, 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 (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 C&I 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, but less than two payments in arrears, 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)(3) 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 (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 C&I 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, but less than two payments in arrears, 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 December 31, 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 December 31, 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 $ 12,676 $ 33,472 $ 1,768 $ 15,825 $ 1,920 $ 3,175 $ - $ 68,836 $ 35,680 Criticized: Special Mention - 776 - - - - - 776 - Substandard - 886 4,934 - 5,269 4,315 - 15,404 12,566 Doubtful - - - - - - - - - Loss - - - - - - - - - Total construction loans $ 12,676 $ 35,134 $ 6,702 $ 15,825 $ 7,189 $ 7,490 $ - $ 85,016 $ 48,246 COMMERCIAL MORTGAGE Risk Ratings: Pass $ 383,847 $ 264,499 $ 201,344 $ 183,056 $ 143,673 $ 334,875 $ 533 $ 1,511,827 $ 891,298 Criticized: Special Mention - 81,797 71,731 119,255 8,766 11,187 - 292,736 13,080 Substandard 188 - - - 704 47,769 - 48,661 175,522 Doubtful - - - - - - - - - Loss - - - - - - - - - Total commercial mortgage loans $ 384,035 $ 346,296 $ 273,075 $ 302,311 $ 153,143 $ 393,831 $ 533 $ 1,853,224 $ 1,079,900 COMMERCIAL AND INDUSTRIAL Risk Ratings: Pass $ 642,966 $ 395,232 $ 237,958 $ 226,469 $ 109,300 $ 186,781 $ 356,520 $ 2,155,226 $ 1,321,804 Criticized: Special Mention - 455 - 827 68 30,335 27,736 59,421 39,327 Substandard 1,389 713 2,721 18,218 1,610 24,438 995 50,084 27,265 Doubtful - - - - - - - - 2,768 Loss - - - - - - - - 249 Total commercial and industrial loans $ 644,355 $ 396,400 $ 240,679 $ 245,514 $ 110,978 $ 241,554 $ 385,251 $ 2,264,731 $ 1,391,413 As of December 31, 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 $ 61,813 $ 21,672 $ 43,168 $ - $ - $ - $ 831 $ 127,484 $ 63,071 Criticized: Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Loss - - - - - - - - - Total construction loans $ 61,813 $ 21,672 $ 43,168 $ - $ - $ - $ 831 $ 127,484 $ 63,071 COMMERCIAL MORTGAGE Risk Ratings: Pass $ 48,429 $ 81,161 $ 39,941 $ 51,733 $ 28,091 $ 18,577 $ 23,695 $ 291,627 $ 364,370 Criticized: Special Mention 16,803 23,720 6,782 5,350 10,721 17,196 4,855 85,427 - Substandard - - - - - 324 - 324 316 Doubtful - - - - - - - - - Loss - - - - - - - - - Total commercial mortgage loans $ 65,232 $ 104,881 $ 46,723 $ 57,083 $ 38,812 $ 36,097 $ 28,550 $ 377,378 $ 364,686 COMMERCIAL AND INDUSTRIAL Risk Ratings: Pass $ 174,914 $ 264,660 $ 94,375 $ 84,630 $ 9,738 $ 46,142 $ 148,665 $ 823,124 $ 837,697 Criticized: Special Mention 2,999 58,880 12,095 - - - - 73,974 - Substandard 38,727 - - - - 1,697 337 40,761 1,766 Doubtful - - - - - - - - - Loss - - - - - - - - - Total commercial and industrial loans $ 216,640 $ 323,540 $ 106,470 $ 84,630 $ 9,738 $ 47,839 $ 149,002 $ 937,859 $ 839,463 As of December 31, 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 $ 74,489 $ 55,144 $ 44,936 $ 15,825 $ 1,920 $ 3,175 $ 831 $ 196,320 $ 98,751 Criticized: Special Mention - 776 - - - - - 776 - Substandard - 886 4,934 - 5,269 4,315 - 15,404 12,566 Doubtful - - - - - - - - - Loss - - - - - - - - - Total construction loans $ 74,489 $ 56,806 $ 49,870 $ 15,825 $ 7,189 $ 7,490 $ 831 $ 212,500 $ 111,317 COMMERCIAL MORTGAGE Risk Ratings: Pass $ 432,276 $ 345,660 $ 241,285 $ 234,789 $ 171,764 $ 353,452 $ 24,228 $ 1,803,454 $ 1,255,668 Criticized: Special Mention 16,803 105,517 78,513 124,605 19,487 28,383 4,855 378,163 13,080 Substandard 188 - - - 704 48,093 - 48,985 175,838 Doubtful - - - - - - - - - Loss - - - - - - - - - Total commercial mortgage loans $ 449,267 $ 451,177 $ 319,798 $ 359,394 $ 191,955 $ 429,928 $ 29,083 $ 2,230,602 $ 1,444,586 COMMERCIAL AND INDUSTRIAL Risk Ratings: Pass $ 817,880 $ 659,892 $ 332,333 $ 311,099 $ 119,038 $ 232,923 $ 505,185 $ 2,978,350 $ 2,159,501 Criticized: Special Mention 2,999 59,335 12,095 827 68 30,335 27,736 133,395 39,327 Substandard 40,116 713 2,721 18,218 1,610 26,135 1,332 90,845 29,031 Doubtful - - - - - - - - 2,768 Loss - - - - - - - - 249 Total commercial and industrial loans $ 860,995 $ 719,940 $ 347,149 $ 330,144 $ 120,716 $ 289,393 $ 534,253 $ 3,202,590 $ 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 December 31, 2020 and the amortized cost of residential mortgage loans by original LTV and original credit scores as of December 31, 2019: As of December 31, 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 $ 278 $ 2,416 $ 2,594 $ 4,354 $ 9,673 $ 130,249 $ - $ 149,564 $ 122,429 Conventional residential mortgage loans: Original LTV: ` Less than or equal to 90 percent 37,989 61,202 101,157 65,334 88,292 1,675,203 - 2,029,177 1,684,340 Greater than 90 percent but less than or equal to 100 percent 1,644 7,106 8,319 5,565 16,431 685,984 - 725,049 460,879 Greater than 100 percent - 939 5,449 2,765 7,362 81,898 - 98,413 99,939 Total residential mortg |
ALLOWANCE FOR CREDIT LOSSES ON
ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LEASES | 12 Months Ended |
Dec. 31, 2020 | |
Allowance for Credit Loss [Abstract] | |
Allowance For Credit Losses [Text Block] | NOTE 9 – ALLOWANCE FOR CREDIT LOSSES FOR LOANS AND FINANCE LEASES The following table presents the activity in the ACL on loans and finance leases by portfolio segment for the indicated periods: Residential Mortgage Loans Construction Loans Commercial Mortgage Commercial & Industrial Loans Consumer Loans Total Year Ended December 31,2020 (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 (1) 22,427 2,105 81,125 6,627 56,433 168,717 Charge-offs ( 11,017) ( 76) ( 3,330) ( 3,634) ( 46,483) ( 64,540) Recoveries 1,519 184 1,936 3,192 9,831 16,662 Ending balance $ 120,311 $ 5,380 $ 109,342 $ 37,944 $ 112,910 $ 385,887 Residential Mortgage Loans Construction Loans Commercial Mortgage Commercial & Industrial Loans Consumer Loans Total Year Ended December 31,2019 (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 14,091 ( 1,496) ( 1,697) ( 13,696) 43,023 40,225 Charge-offs ( 22,742) ( 391) ( 15,088) ( 7,206) ( 52,160) ( 97,587) Recoveries 2,663 665 398 3,554 8,859 16,139 Ending balance $ 44,806 $ 2,370 $ 39,194 $ 15,198 $ 53,571 $ 155,139 Residential Mortgage Loans Construction Loans Commercial Mortgage Commercial & Industrial Loans Consumer Loans Total Year Ended December 31, 2018 (In thousands) Allowance for credit losses: Beginning balance $ 58,975 $ 4,522 $ 48,493 $ 48,871 $ 70,982 $ 231,843 Provision (release) for credit losses (2) 13,202 7,032 23,074 ( 8,440) 24,385 59,253 Charge-offs (2) ( 24,775) ( 8,296) ( 23,911) ( 9,704) ( 50,106) ( 116,792) Recoveries 3,392 334 7,925 1,819 8,588 22,058 Ending balance $ 50,794 $ 3,592 $ 55,581 $ 32,546 $ 53,849 $ 196,362 Includes a $ 37.5 million charge related to the establishment of the initial reserves for non-PCD loans acquired in conjunction with the BSPR acquisition consisting of (i) a $13.6 million charge related to non-PCD residential mortgage loans; (ii) a $9.2 million charge related to non-PCD commercial mortgage loans; (iii) a $4.6 million charge related to non-PCD commercial and industrial loans; and (iv) a $10.2 million charge related to non-PCD consumer loans. During 2018, the Corporation transferred to held for sale $ 74.4 million (net of fair value write downs of $ 22.2 million) in nonaccrual loans. Approximately $ 6.5 million of the $ 22.2 million in charge-offs recorded on the transfer was taken against previously-established reserves for credit losses, resulting in a charge to the provision of $ 15.7 million for the year ended December 31, 2018. Loans transferred to held for sale in 2018 consisted of $33.0 million in nonaccrual construction loans (net of fair value write downs of $6.7 million), $39.6 million in nonaccrual commercial mortgage loans (net of fair value write downs of $13.8 million), and $1.8 million in nonaccrual commercial and industrial loans (net of fair value write-downs of $1.7 million). The Corporation estimates the ACL following the methodologies described in Note 1, – Nature of Business and Summary of 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 December 31, 2020, the ACL for loans and finance leases was $ 385.9 million, up $ 230.8 million from December 31, 2019, driven by the $ 81.2 million increase as a result of adopting CECL, a $ 168.7 million provision for credit losses on loans, and the establishment of a $ 28.7 million ACL for PCD loans acquired in conjunction with the BSPR acquisition. The $ 168.7 million provision for credit losses on loans and finance leases recorded for the year ended December 31, 2020, was $ 128.5 million higher than the $ 40.2 million provision recorded for the year ended December 31, 2019. The increase was driven by the adverse effect of the COVID-19 pandemic on the economic forecast utilized by the Corporation in its CECL model, in particular during the first half of 2020, and the $ 37.5 million charge to the provision related to the initial establishment of reserves for non-PCD loans required by the CECL methodology in connection with the closing of the BSPR acquisition in the third quarter of 2020. The Corporation recorded net charge-offs of $ 47.9 million for the year ended December 31, 2020, compared to $ 81.4 million for the year ended December 31, 2019. The decrease compared to the year ended December 31, 2019, primarily reflects a $ 10.6 million decrease in residential mortgage loans net charge-offs, loan loss recoveries of $ 3.9 million in connection with the repayment and cancellation of two nonaccrual commercial loans during the fourth quarter of 2020, the effect in 2019 of an $ 11.4 million charge-off taken on a commercial mortgage loan in the Florida region, and a $ 6.6 million decrease in consumer loans net charge-offs. The decrease in residential mortgage and consumer loans net charge-offs, as compared to 2019, reflects, in part, the effect of the deferred repayment arrangements provided to borrowers affected by the COVID-19 pandemic that maintained the delinquency status that existed at the date of the event until the end of the deferral period. For those loans where the ACL was determined based on a discounted cash flow model, as indicated in Note 1 – Nature of Business and Summary of 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 values of loans by portfolio segment as of December 31, 2020 and December 31, 2019: As of December 31,2020 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 $ 3,521,954 $ 212,500 $ 2,230,602 $ 3,202,590 $ 2,609,643 $ 11,777,289 Allowance for credit losses 120,311 5,380 109,342 37,944 112,910 385,887 Allowance for credit losses to amortized cost 3.42 % 2.53 % 4.90 % 1.18 % 4.33 % 3.28 % 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 December 31, 2020, includes $ 406.0 million of SBA PPP loans, which require no ACL as these loans are 100% guaranteed by the SBA. In addition, the Corporation estimates expected credit losses over the contractual period in which the Corporation is exposed to credit risk via a contractual obligation to extend credit, such as unfunded loan commitments and standby letters of credit for commercial and construction loans, unless the obligation is unconditionally cancellable by the Corporation. The Corporation estimates the ACL for these off-balance sheet exposures following the methodology described in Note 1 – Nature of Business and Summary of Significant Accounting Policies, 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 December 31, 2020, the ACL for off-balance sheet credit exposures was $ 5.1 million, including the $ 3.9 million effect of adopting CECL and a $ 1.2 million charge to the provision during 2020. The following table presents the activity in the ACL for unfunded loan commitments and standby letters of credit for the years ended December 31, 2020, 2019 and 2018: Year Ended December 31, 2020 2019 2018 (In thousands) Beginning Balance $ - $ 412 $ 676 Impact of adopting ASC 326 3,922 - - Provision (release) for credit losses 1,183 ( 412) ( 264) Ending balance $ 5,105 $ - $ 412 |
LOANS HELD FOR SALE
LOANS HELD FOR SALE | 12 Months Ended |
Dec. 31, 2020 | |
Receivables Held-for-sale [Abstract] | |
Loans Held For Sale [Text Block] | NOTE 10 – LOANS HELD FOR SALE The Corporation’s loans held-for-sale portfolio as of the dates indicated was composed of: December 31, 2020 2019 (In thousands) Residential mortgage loans $ 50,289 $ 39,477 |
OTHER REAL ESTATE OWNED
OTHER REAL ESTATE OWNED | 12 Months Ended |
Dec. 31, 2020 | |
Real Estate Owned, Disclosure of Detailed Components [Abstract] | |
Other Real Estate Owned [Text Block] | NOTE 11 – OTHER REAL ESTATE OWNED The following table presents OREO inventory as of the dates indicated: December 31, (In thousands) 2020 2019 OREO OREO balances, carrying value: Residential (1) $ 32,418 $ 46,912 Commercial 44,356 47,271 Construction 6,286 7,443 Total $ 83,060 $ 101,626 (1) Excludes $ 18.6 million and $ 16.7 million as of December 31, 2020 and 2019, respectively, of foreclosures that meet the conditions of ASC Subtopic 310-40 “Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure,” and are presented as a receivable as part of other assets in the consolidated statements of financial condition. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Dec. 31, 2020 | |
Related Party Transactions [Abstract] | |
Related Party Transactions [Text Block] | NOTE 12 – RELATED-PARTY TRANSACTIONS The Corporation granted loans to its directors, executive officers, and certain related individuals or entities in the ordinary course of business. The movement and balance of these loans were as follows: Amount (In thousands) Balance at December 31, 2018 $ 1,024 New loans 154 Payments ( 146) Other changes - Balance at December 31, 2019 1,032 New loans 425 Payments ( 953) Other changes - Balance at December 31, 2020 $ 504 These loans were made subject to the provisions of the Federal Reserve’s Regulation O - “Loans to Executive Officers, Directors and Principal Shareholders of Member Banks,” which governs the permissible lending relationships between a financial institution and its executive officers, directors, principal shareholders, their families and related parties. Amounts related to changes in the status of those who are considered related parties are reported as other changes in the table above. There were no changes in the status of related parties during 2020 and 2019. From time to time, the Corporation, in the ordinary course of its business, obtains services from related parties or makes contributions to non-profit organizations that have some association with the Corporation. |
PREMISES AND EQUIPMENT
PREMISES AND EQUIPMENT | 12 Months Ended |
Dec. 31, 2020 | |
Property Plant And Equipment [Abstract] | |
Property Plant And Equipment Disclosure [Text Block] | NOTE 13 – PREMISES AND EQUIPMENT Premises and equipment comprise: Useful Life In Years As of December 31, Minimum Maximum 2020 2019 (Dollars in thousands) Buildings and improvements 10 35 $ 138,686 $ 135,263 Leasehold improvements 1 10 82,034 56,530 Furniture and equipment 2 10 224,623 146,835 445,343 338,628 Accumulated depreciation and amortization ( 318,659) ( 228,712) 126,684 109,916 Land 23,873 22,939 Projects in progress 7,652 17,134 Total premises and equipment, net $ 158,209 $ 149,989 Depreciation and amortization expense amounted to $ 20.1 million, $ 17.6 million, and $ 15.0 million for the years ended December 31, 2020, 2019, and 2018, respectively. During 2020, the Corporation received insurance proceeds of $ 5.0 million resulting from the final settlement of the business interruption insurance claim related to lost profits caused by Hurricanes Irma and Maria. This amount is included as part of Other non-interest income in the consolidated statements of income. In addition, during 2020, the Corporation received insurance proceeds of $ 1.2 million related to hurricane-related expenses claims recorded as a contra-account of non-interest expenses, primarily consisting of occupancy and equipment costs. During 2019 and 2018, the Corporation received insurance proceeds of $ 0.6 million and $ 2.0 million, respectively, related to casualty losses incurred at some facilities. The insurance proceeds were recorded against impairment losses. Insurance recoveries in excess of losses amounted to $ 0.1 million and $ 0.5 million for 2019 and 2018, respectively, and were recorded as a gain from insurance proceeds and reported as part of other non-interest income in the consolidated statements of income. |
GOODWILL AND OTHER INTANGIBLES
GOODWILL AND OTHER INTANGIBLES | 12 Months Ended |
Dec. 31, 2020 | |
Goodwill and other Intangible Assets [Abstract] | |
GOODWILL AND OTHER INTANGIBLES [Text Block] | NOTE 14 – GOODWILL AND OTHER INTANGIBLES Goodwill as of December 31, 2020 and December 31, 2019 amounted to $ 38.6 million and $ 28.1 million, respectively. During the year ended December 31, 2020, the additions to goodwill included $ 6.3 million associated with the acquisition of BSPR and adjustments to goodwill within the one-year measurement period subsequent to the acquisition date in the amount of $ 4.2 million recorded in the fourth quarter of 2020. 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. 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 additional information related to those fair value estimates become available and such information is considered final. In addition to the goodwill recorded in connection with the acquisition of BSPR, the Corporation’s goodwill includes $ 28.1 million related to the United States (Florida) reporting unit. The Corporation’s policy is to assess goodwill and other intangibles for impairment on an annual basis during the fourth quarter of each year, and more frequently if events or circumstances lead management to believe that the values of goodwill or other intangibles may be impaired. Given the volatility in economic conditions and equity markets observed during 2020, triggered by the outbreak of the COVID-19 pandemic, the Corporation performed qualitative assessments during the first three quarters of 2020 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 Florida reporting unit was impaired. The Corporation concluded that the COVID-19 event was not a triggering event that required the performance of a quantitative test. In the fourth quarter of 2020, as part of its annual evaluation, the Corporation bypassed the qualitative assessment and proceeded directly to perform quantitative analyses to test for impairment the goodwill of the Florida reporting unit. Based on analyses under both the market and discounted cash flow approaches, the estimated fair value of the Florida reporting unit well exceeded the carrying amount of the entity, including goodwill as of the evaluation date (October 1). Goodwill was not impaired as of December 31, 2020 or 2019, nor was any goodwill written off due to impairment during 2020, 2019 and 2018. The change in the carrying amount of goodwill attributable to operating segments are reflected in the following table. Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Banking United States Operations Total (In thousands) Goodwill, January 1, 2020 $ - $ - $ - $ 28,098 $ 28,098 Merger and acquisitions 574 794 4,935 - 6,303 Adjustments 385 533 3,313 - 4,231 Goodwill, December 31, 2020 $ 959 $ 1,327 $ 8,248 $ 28,098 $ 38,632 The Corporation had other intangible assets of $ 40.9 million as of December 31, 2020, consisting of $ 35.8 million in core deposit intangibles, $ 4.7 million in purchased credit card relationship intangibles, and $ 0.3 million in insurance customer relationship intangibles. The additions of $ 35.4 million of core deposit intangibles and $ 3.8 million in purchased credit card relationship intangibles during 2020 was the result of the BSPR acquisition. The following table shows the gross amount and accumulated amortization of the Corporation’s other intangible assets as of the indicated dates: Year Ended December 31, 2020 Core deposit intangible Purchased credit card relationship intangible Insurance customer relationship intangible Total (In thousands) Gross amount of intangible assets: Beginning balance $ 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 Accumulated amortization: Beginning balance ( 48,176) ( 20,850) ( 597) ( 69,623) Amortization ( 3,078) ( 2,682) ( 152) ( 5,912) Ending balance ( 51,254) ( 23,532) ( 749) ( 75,535) Net intangible assets $ 35,842 $ 4,733 $ 318 $ 40,893 Year Ended December 31, 2019 Core deposit intangible Purchased credit card relationship intangible Insurance customer relationship intangible Total (In thousands) Gross amount of intangible assets: Beginning balance $ 51,664 $ 24,465 $ 1,067 $ 77,196 Accumulated amortization: Beginning balance ( 47,329) ( 18,763) ( 445) ( 66,537) Amortization ( 847) ( 2,087) ( 152) ( 3,086) Ending balance ( 48,176) ( 20,850) ( 597) ( 69,623) Net intangible assets $ 3,488 $ 3,615 $ 470 $ 7,573 Year Ended December 31, 2018 Core deposit intangible Purchased credit card relationship intangible Insurance customer relationship intangible Total (In thousands) Gross amount of intangible assets: Beginning balance $ 51,664 $ 24,465 $ 1,067 $ 77,196 Accumulated amortization: Beginning balance ( 46,187) ( 16,464) ( 293) ( 62,944) Amortization ( 1,142) ( 2,299) ( 152) ( 3,593) Ending balance ( 47,329) ( 18,763) ( 445) ( 66,537) Net intangible assets $ 4,335 $ 5,702 $ 622 $ 10,659 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 December 31, 2020. The estimated aggregate annual amortization expense related to the intangible assets for future periods was as follows as of December 31, 2020: Amount (In thousands) 2021 $ 11,293 2022 8,731 2023 7,651 2024 6,346 2025 3,469 2026 and after 3,403 |
NON-CONSOLIDATED VARIABLE INTER
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS | 12 Months Ended |
Dec. 31, 2020 | |
Transfers and Servicing [Abstract] | |
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS [Text Block] | 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 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, net of related issuance costs, are presented in the Corporation’s consolidated statements of financial condition as other borrowings. The variable-rate TRuPs are fully and unconditionally guaranteed by the Corporation. The Junior Subordinated Deferrable Debentures 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. In addition, during the first quarter of 2018, the Corporation completed the repurchase of $ 23.8 million of TRuPs of the FBP Statutory Trust I that were auctioned in a public sale at which the Corporation was invited to participate. The Corporation’s winning bid equated to 90% of the $ 23.8 million par value. The 10% discount resulted in a gain of approximately $ 2.3 million. These gains are 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 December 31, 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 December 31, 2020, the amortized cost and fair value of these private label MBS amounted to $ 12.3 million and $ 8.4 million, respectively, with a weighted average yield of 2.25%, which is included as part of the Corporation’s available-for-sale investment securities portfolio. As described in Note 5 – Investment Securities, above, the ACL on these private label MBS amounted to $ 1.0 million as of December 31, 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 of the aforementioned seller-financed loan to cover operating expenses and debt service payments, including those related to the loan that was paid off in October 2019. FirstBank will not receive any return on its equity interest until PRLP receives an aggregate amount equivalent to its initial investment and a priority return of at least 12%, which has not occurred, resulting in FirstBank’s interest in CPG/GS being subordinate to PRLP’s interest. CPG/GS will then begin to make payments pro rata to PRLP and FirstBank, 35% and 65%, respectively, until FirstBank has achieved a 12% return on its invested capital and the aggregate amount of distributions is equal to FirstBank’s capital contributions to CPG/GS. The Bank has determined that CPG/GS is a VIE in which the Bank is not the primary beneficiary. In determining the primary beneficiary of CPG/GS, the Bank considered applicable guidance that requires the Bank to qualitatively assess the determination of whether it is the primary beneficiary (or consolidator) of CPG/GS based on whether it has both the power to direct the activities of CPG/GS that most significantly affect the entity’s economic performance and the obligation to absorb losses of, or the right to receive benefits from, CPG/GS that could potentially be significant to the VIE. The Bank determined that it does not have the power to direct the activities that most significantly impact the economic performance of CPG/GS as it does not have the right to manage or influence the loan portfolio, foreclosure proceedings, or the construction and sale of the property; therefore, the Bank concluded that it is not the primary beneficiary of CPG/GS. Servicing Assets (MSRs) The Corporation typically transfers first lien residential mortgage loans in conjunction with GNMA securitization transactions in which the loans are exchanged for cash or securities that are readily redeemed for cash proceeds and servicing rights. The securities issued through these transactions are guaranteed by GNMA and, under seller/servicer agreements, the Corporation is required to service the loans in accordance with the issuers’ servicing guidelines and standards. As of December 31, 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. MSRs are included as part of other assets in the consolidated statements of financial condition. The changes in MSRs are shown below for the indicated periods: Year Ended December 31, 2020 2019 2018 (In thousands) Balance at beginning of year $ 26,762 $ 27,428 $ 25,255 Purchases of servicing assets (1) 7,781 - - Capitalization of servicing assets 4,864 4,039 3,864 Amortization ( 5,777) ( 4,592) ( 2,895) Temporary impairment (charges) recoveries, net ( 206) ( 43) 1,289 Other (2) ( 353) ( 70) ( 85) Balance at end of year $ 33,071 $ 26,762 $ 27,428 Represents MSRs acquired in the BSPR acquisition. 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: Year Ended December 31, 2020 2019 2018 (In thousands) Balance at beginning of year $ 73 $ 30 $ 1,451 Temporary impairment charges 301 78 123 OTTI of servicing assets ( 77) - ( 132) Recoveries ( 95) ( 35) ( 1,412) Balance at end of year $ 202 $ 73 $ 30 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: Year Ended December 31, 2020 2019 2018 (In thousands) Servicing fees $ 9,268 $ 8,522 $ 8,704 Late charges and prepayment penalties 570 610 510 Adjustment for loans repurchased (1) ( 353) ( 70) ( 85) Other - ( 15) ( 8) Servicing income, gross 9,485 9,047 9,121 Amortization and impairment of servicing assets ( 5,983) ( 4,635) ( 1,606) Servicing income, net $ 3,502 $ 4,412 $ 7,515 Includes $14 thousand for the year ended December 31, 2020 related to the elimination of MSRs associated with loans previously serviced for BSPR. The Corporation’s MSRs are subject to prepayment and interest rate risks. Key economic assumptions used in determining the fair value at the time of sale of the related mortgages ranged as follows for the indicated periods: Maximum Minimum Year Ended December 31, 2020 Constant prepayment rate: Government-guaranteed mortgage loans 6.5 % 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 % 13.7 % Year Ended December 31, 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 % Year Ended December 31, 2018 Constant prepayment rate: Government-guaranteed mortgage loans 6.0 % 5.6 % Conventional conforming mortgage loans 6.5 % 6.2 % Conventional non-conforming mortgage loans 10.3 % 9.1 % 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 December 31, 2020 and 2019 were as follows: December 31, December 31, 2020 2019 (In thousands) Carrying amount of servicing assets $ 33,071 $ 26,762 Fair value $ 40,294 $ 31,027 Weighted-average expected life (in years) 7.86 8.39 Constant prepayment rate (weighted-average annual rate) 6.73 % 6.45 % Decrease in fair value due to 10% adverse change $ 1,006 $ 748 Decrease in fair value due to 20% adverse change $ 1,970 $ 1,464 Discount rate (weighted-average annual rate) 11.20 % 11.27 % Decrease in fair value due to 10% adverse change $ 1,772 $ 1,450 Decrease in fair value due to 20% adverse change $ 3,409 $ 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 MSR is calculated without changing any other assumption; in reality, changes in one factor may result in changes in another (for example, increases in market interest rates may result in lower prepayments), which may magnify or counteract the sensitivities . |
DEPOSITS
DEPOSITS | 12 Months Ended |
Dec. 31, 2020 | |
Deposits [Abstract] | |
DEPOSITS [Text Block] | NOTE 16 – DEPOSITS AND RELATED INTEREST The following table summarizes deposit balances as of the dates indicated: December 31, 2020 2019 (In thousands) Type of account and interest rate: Non-interest-bearing deposit accounts $ 4,546,123 $ 2,367,856 Interest-bearing savings accounts - 0.05% to 1.40% (2019- 0.05% to 2.00%) 4,088,969 2,437,345 Interest-bearing checking accounts - 0.05% to 1.75% (2019- 0.05% to 1.00%) 3,651,806 1,412,390 Certificates of deposit ("CDs")- 0.10% to 4.75% (2019- 0.10% to 4.00%) 2,814,313 2,695,749 Brokered CDs- 0.85% to 2.75% (2019- 1.20% to 3.00%) 216,172 435,089 $ 15,317,383 $ 9,348,429 The weighted-average interest rate on total interest-bearing deposits as of December 31, 2020 and 2019 was 0.55% and 1.18%, respectively. As of December 31, 2020, the aggregate amount of unplanned overdrafts of demand deposits that were reclassified as loans amounted to $ 0.8 million (2019 - $ 4.1 million). Pre-arranged overdrafts lines of credit amounted to $ 26.0 million as of December 31, 2020 (2019 - $ 28.6 million). The following table presents the contractual maturities of CDs, including brokered CDs, as of December 31, 2020: Total (In thousands) Three months or less $ 658,417 Over three months to six months 527,542 Over six months to one year 779,370 Over one year to two years 594,688 Over two years to three years 252,014 Over three years to four years 135,653 Over four years to five years 68,260 Over five years 14,541 Total $ 3,030,485 As of December 31, 2020, CDs in denominations of $100,000 or higher amounted to $ 2.3 billion (2019 - $ 2.4 billion) including brokered CDs of $ 216.1 million (2019 - $ 434.8 million) at a weighted-average rate of 2.00% (2019 - 2.15%) issued to deposit brokers in the form of large certificates of deposits that are generally participated out by brokers in shares of less than the FDIC insurance limit. As of December 31, 2020, unamortized broker placement fees amounted to $ 0.4 million (2019 - $ 0.9 million), which are amortized over the contractual maturity of the brokered CDs under the interest method. As of December 31, 2020, time deposits in denominations of $250,000 or more amounted to $ 1.0 billion (2019 - $ 1.3 billion). Brokered CDs mature as follows: December 31, 2020 (In thousands) Three months or less $ 54,118 Over three months to six months 24,502 Over six months to one year 37,287 Over one year to three years 77,953 Over three years to five years 22,312 Total $ 216,172 As of December 31, 2020, deposit accounts issued to government agencies amounted to $ 2.1 billion (2019 - $ 1.1 billion). These deposits are insured by the FDIC up to the applicable limits, generally $250,000. The uninsured portions were collateralized by securities and loans with an amortized cost of $ 2.0 billion (2019 - $ 780.9 million) and an estimated market value of $ 2.1 billion (2019 - $ 769.6 million). In addition, as of December 31, 2019, the Corporation used $ 212.0 million in letters of credit issued by the FHLB as pledges for public deposits in the Virgin Islands. As of December 31, 2020, the Corporation had $ 1.8 billion of government deposits in Puerto Rico (2019 - $ 826.9 million), $ 280.2 million in the Virgin Islands (2019 - $ 227.7 million) and $ 9.7 million in Florida (2019 - $ 7.6 million). A table showing interest expense on deposits for the indicated periods follows: Year Ended December 31, 2020 2019 2018 (In thousands) Interest-bearing checking accounts $ 5,933 $ 6,071 $ 5,208 Savings 11,116 16,017 14,298 CDs 43,350 44,658 33,652 Brokered CDs 7,989 11,036 14,493 Total $ 68,388 $ 77,782 $ 67,651 The total interest expense on deposits included the amortization of broker placement fees related to brokered CDs amounting to $ 0.5 million, $ 0.7 million, and $ 1.2 million for 2020, 2019 and 2018, respectively. For 2020, total interest expense included $ 1.0 million for the accretion of premiums related to time deposits assumed in the BSPR acquisition. Refer to Note 2 – Business Combination, for additional information. |
LOANS PAYABLE
LOANS PAYABLE | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Loans Payable [Text Block] | NOTE 17 – LOANS PAYABLE The Corporation participates in the Borrower-in-Custody Program (the “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 December 31, 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 approximately $ 960 million of credit availability under this program. With the impacts of COVID-19 on individuals, communities and organizations continuing to evolve, the Federal Reserve has taken several actions to support the economy and financial stability of market participants 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 highly volatile market environment. There were no outstanding borrowings under the Primary Credit FED Discount Window Program as of December 31, 2020. |
SECURITIES SOLD UNDER AGREEMENT
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of Repurchase Agreements [Abstract] | |
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE [Text Block] | 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: December 31, 2020 2019 (In thousands) Long-term repurchase agreement (1)(2) $ 300,000 $ 100,000 (1) Weighted-average interest rate of 1.77% and 2.26% as of December 31, 2020 and 2019, respectively. As of December 31, 2020, includes repurchase agreements of $200 million tied to variable rates. (2) During the first quarter of 2020, a repurchase agreement counterparty 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.” Accrued interest payable on repurchase agreements amounted to $ 1.0 million and $ 0.8 million as of December 31, 2020 and 2019, respectively. Repurchase agreements mature as follows as of the indicated date: December 31,2020 (In thousands) One year to three years $ 100,000 Three to five years 200,000 Total $ 300,000 The following securities were sold under agreements to repurchase: As of December 31, 2020 Amortized Approximate Weighted Cost of Fair Value Average Underlying Balance of of Underlying Interest Rate Underlying Securities Securities Borrowing Securities of Security (Dollars in thousands) U.S. government-sponsored agencies $ 12,219 $ 11,013 $ 12,351 1.94 % MBS 320,640 288,987 329,438 1.65 % Total $ 332,859 $ 300,000 $ 341,789 Accrued interest receivable $ 753 As of December 31, 2019 Amortized Approximate Weighted Cost of Fair Value Average Underlying Balance of of Underlying Interest Rate Underlying Securities Securities Borrowing Securities of Security (Dollars in thousands) U.S. government-sponsored agencies $ 13,776 $ 4,723 $ 13,768 1.53 % MBS 115,630 95,277 116,397 2.31 % Total $ 129,406 $ 100,000 $ 130,165 Accrued interest receivable $ 347 The maximum aggregate balance of repurchase agreements outstanding at any month-end during 2020 was $ 475.8 million (2019 - $ 150.1 million). The average balance during 2020 was $ 291.5 million (2019 - $ 110.6 million). The weighted-average interest rate during 2020 and 2019 was 2.28% and 6.01%, respectively, considering negative market rates on reverse repurchase agreements. As of December 31, 2020 and 2019, the securities underlying such agreements were delivered to the dealers with which the repurchase agreements were transacted. Repurchase agreements as of December 31, 2020, grouped by counterparty, were as follows: Weighted-Average (Dollars in thousands) Amount Maturity (In Months) Counterparty JP Morgan Chase $ 100,000 13 Credit Suisse First Boston 200,000 49 $ 300,000 |
ADVANCES FROM THE FEDERAL HOME
ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) | 12 Months Ended |
Dec. 31, 2020 | |
Federal Home Loan Bank, Advances, Fixed Rate [Abstract] | |
ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) [Text Block] | NOTE 19 – ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) The following is a summary of the advances from the FHLB as of the indicated dates: December 31, December 31, 2020 2019 (In thousands) Short-term Fixed -rate advances from FHLB (1) $ - $ 35,000 Long-term Fixed -rate advances from FHLB (2) 440,000 535,000 $ 440,000 $ 570,000 Interest rate of 1.83% as of December 31, 2019. Weighted-average interest rate of 2.26% and 2.21% as of December 31, 2020 and 2019, respectively. Advances from FHLB mature as follows as of the indicated date: December 31, 2020 (In thousands) Over three to six months $ 120,000 Over six months to one year 120,000 Over one to three years 200,000 Total $ 440,000 The Corporation receives advances from the FHLB under an Advances, Collateral Pledge, and Security Agreement (the “Collateral Agreement”). The Collateral Agreement requires the Corporation to maintain a minimum amount of qualifying mortgage collateral with a market value of generally 125% or higher than the outstanding advances. As of December 31, 2020 and 2019, the estimated value of specific mortgage loans pledged as collateral amounted to $ 1.6 billion and $ 1.3 billion, respectively, as computed by the FHLB for collateral purposes. The carrying value of such loans as of December 31, 2020 amounted to $ 2.2 billion (2019 - $ 1.6 billion). As of December 31, 2020, the Corporation had additional capacity of approximately $ 1.2 billion on this credit facility based on collateral pledged at the FHLB, including a haircut reflecting the perceived risk associated with the collateral. Haircut refers to the percentage by which an asset’s market value is reduced for the purpose of collateral levels. Advances may be repaid prior to maturity, in whole or in part, at the option of the borrower upon payment of any applicable fee specified in the contract governing such advance. In calculating the fee, due consideration is given to (i) all relevant factors, including, but not limited to, any and all applicable costs of repurchasing and/or prepaying any associated liabilities and/or hedges entered into with respect to the applicable advance; (ii) the financial characteristics, in their entirety, of the advance being prepaid; and (iii), in the case of adjustable-rate advances, the expected future earnings of the replacement borrowing as long as the replacement borrowing is at least equal to the original advance’s par value and the replacement borrowing’s tenor is at least equal to the remaining maturity of the prepaid advance. |
OTHER BORROWINGS
OTHER BORROWINGS | 12 Months Ended |
Dec. 31, 2020 | |
Subordinated Borrowings [Abstract] | |
OTHER BORROWINGS [Text Block] | NOTE 20 – OTHER BORROWINGS Other borrowings, as of the indicated dates, consisted of: December 31, December 31, (In thousands) 2020 2019 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 ( 2.98% as of December 31, 2020 and 4.65% as of December 31, 2019). Refer to note 15 – “Non-Consolidated Variable Interest Entities and Servicing Assets – Trust Preferred Securities,” above for additional information about the Corporation’s repurchase in the third quarter of 2020 of $0.4 million in TRuPs associated with these junior subordinated debentures. Amount represents junior subordinated interest-bearing debentures due in 2034 with a floating interest rate of 2.50% over 3-month LIBOR ( 2.74% as of December 31, 2020 and 4.41% as of December 31, 2019). |
EARNINGS PER COMMON SHARE
EARNINGS PER COMMON SHARE | 12 Months Ended |
Dec. 31, 2020 | |
Earnings Per Share [Abstract] | |
EARNINGS PER COMMON SHARE [Text Block] | NOTE 21 – EARNINGS PER COMMON SHARE The calculations of earnings per common share for the years ended December 31, 2020, 2019, and 2018 are as follows: Year Ended December 31, 2020 2019 2018 (In thousands, except per share information) Net income $ 102,273 $ 167,377 $ 201,608 Less: Preferred stock dividends ( 2,676) ( 2,676) ( 2,676) Net income attributable to common stockholders $ 99,597 $ 164,701 $ 198,932 Weighted-Average Shares: Average common shares outstanding 216,904 216,614 215,709 Average potential dilutive common shares 764 520 968 Average common shares outstanding - assuming dilution 217,668 217,134 216,677 Earnings per common share: Basic $ 0.46 $ 0.76 $ 0.92 Diluted $ 0.46 $ 0.76 $ 0.92 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, warrants outstanding during the period and common stock issued under the assumed exercise of stock options 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, stock options, and warrants 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. On May 17, 2018, the U.S. Treasury exercised its warrant to purchase 1,285,899 shares of the Corporation’s common stock on a cashless basis, resulting in the issuance of 730,571 shares of common stock. |
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
STOCK-BASED COMPENSATION [Text Block] | NOTE 22 – 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 and non equity-based compensation incentives (the “awards”) through the grant of stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, other stock-based awards and cash-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 December 31, 2020, 5,670,102 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 2020, the Corporation awarded to its independent directors 59,797 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 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 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 16,808 shares granted to retirement-eligible employees. The fair value of the shares of restricted stock granted in 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 2020 under the Omnibus Plan: 2020 Number of Weighted- shares of Average restricted Grant Date stock Fair Value Unvested shares outstanding at beginning of year 644,805 $ 8.51 Granted 911,470 4.16 Forfeited ( 3,086) 6.07 Vested ( 232,466) 7.23 Unvested shares outstanding at end of year 1,320,723 $ 5.74 For the years ended December 31, 2020, 2019 and 2018, the Corporation recognized $ 3.2 million, $ 2.8 million and $ 3.4 million, respectively, of stock-based compensation expense related to restricted stock awards. As of December 31, 2020, there was $ 3.2 million of total unrecognized compensation cost related to unvested shares of restricted stock. The weighted average period over which the Corporation expects to recognize such cost was 1.5 years as of December 31, 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 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 2019 and 2018, the Corporation awarded 200,053 and 304,408 performance units to executives, respectively. The performance units are subject to three-year service periods from the date of grant and a pre-established performance target level as described above. The following table summarizes the performance units activity during 2020 under the Omnibus Plan: Year Ended (Number of units) December 31, 2020 Performance units at beginning of year 504,461 Additions 502,307 Performance units at December 31, 2020 1,006,768 The fair values of the performance units awarded during 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 years ended December 31, 2020, 2019, and 2018, the Corporation recognized $ 1.8 million, $ 1.1 million, and $ 0.6 million, respectively, of stock-based compensation expense related to performance units. As of December 31, 2020, there was $ 2.6 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 on the grant date. For the year ended December 31, 2020, the Corporation recognized $ 0.1 million of stock-based compensation expense related to unrestricted stock awards. There were no Salary stock Effective April 1, 2013, the Corporation’s Board of Directors determined to increase the salary amounts paid to certain executive officers, primarily by paying the increased salary amounts in the form of shares of the Corporation’s common stock issued under the Omnibus Plan, instead of cash. During 2018, the Corporation issued 268,709 shares of common stock with a weighted-average market value per share of $ 6.51 as salary stock compensation. This resulted in compensation expense of $ 1.7 million recorded in 2018. Effective July 1, 2018, the Corporation ceased paying additional salary amounts in the form of stock in accordance with its revised executive compensation program. Shares withheld During 2020, the Corporation withheld 51,814 shares (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. |
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY | 12 Months Ended |
Dec. 31, 2020 | |
Stockholders' Equity Note [Abstract] | |
STOCKHOLDERS' EQUITY [Text Block] | NOTE 23 – STOCKHOLDERS’ EQUITY Common Stock As of December 31, 2020 and 2019, the Corporation had 2,000,000,000 authorized shares of common stock with a par value of $ 0.10 per share. As of December 31, 2020 and 2019, there were 223,034,348 and 222,103,721 shares issued, respectively, and 218,235,064 and 217,359,337 shares outstanding, respectively. Refer to Note 22 – Stock-Based Compensation, above for information about transactions related to common stock under the Omnibus Plan. For the years ended December 31, 2020 and 2019, total cash dividends declared on shares of common stock amounted to $ 43.8 million and $ 30.5 million, respectively. On January 28, 2021, the Corporation announced that its Board of Directors declared a quarterly cash dividend of $ 0.07 per common share, which represents an increase of $ 0.02 per common share compared to the dividend paid on December 11, 2020. The dividend is payable on March 12, 2021 to shareholders of record at the close business on February 26, 2021. The Corporation intends to continue to pay quarterly dividends on common stock. However, the Corporation’s common stock dividends, including the declaration, timing and amount, remain subject to consideration and approval by the Corporation’s Board Directors at the relevant times. Preferred Stock The Corporation has 50,000,000 authorized shares of preferred stock with a par value of $ 1.00, redeemable at the Corporation’s option, subject to certain terms. This stock may be issued in series and the shares of each series have such rights and preferences as are fixed by the Board of Directors when authorizing the issuance of that particular series. As of December 31, 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 year, 2020 and 2019, total cash dividends declared on shares of preferred stock amounted to $ 2.7 million. 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 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 December 31, 2020 and 2019, the Corporation had 4,799,284 and , 4,744384 shares held as treasury stock, respectively. FirstBank Statutory Reserve (Legal Surplus) The Banking Law of the Commonwealth of Puerto Rico requires that a minimum of 10% of FirstBank’s net income for the year be transferred to a legal surplus reserve until such surplus equals the total of paid-in-capital on common and preferred stock. Amounts transferred to the legal surplus reserve from retained earnings are not available for distribution to the Corporation, including for payment as dividends to the stockholders, without the prior consent of the Puerto Rico Commissioner of Financial Institutions. The Puerto Rico Banking Law provides that, when the expenditures of a Puerto Rico commercial bank are greater than receipts, the excess of the expenditures over receipts must be charged against the undistributed profits of the bank, and the balance, if any, must be charged against the legal surplus reserve, as a reduction thereof. If the legal surplus reserve is not sufficient to cover such balance in whole or in part, the outstanding amount must be charged against the capital account and the Bank cannot pay dividends until it can replenish the legal surplus reserve to an amount of at least 20% of the original capital contributed. During 2020 and 2019, the Corporation transferred $ 11.7 million and $ 17.4 million, respectively, to the legal surplus reserve. FirstBank’s legal surplus reserve, included as part of retained earnings in the Corporation’s consolidated statements of financial condition, amounted to $ 109.3 million and $ 97.6 million as of December 31, 2020 and 2019, respectively. |
EMPLOYEES BENEFIT PLANS
EMPLOYEES BENEFIT PLANS | 12 Months Ended |
Dec. 31, 2020 | |
Employees' Benefit Plan [Abstract] | |
Employees' Benefit Plan [Text Block] | NOTE 24 – EMPLOYEE BENEFIT PLANS Defined Benefit Retirement Plans The Corporation maintains two frozen qualified noncontributory defined benefit pension plans (the “Pension Plans”), and a related complementary post-retirement benefit plan covering medical benefits and life insurance after retirement that it obtained in the BSPR acquisition (the “Postretirement Benefit Plan”). One defined benefit pension plan covers substantially all former BSPR’s employees who were active before January 1, 2007 (the “BSPR Plan”), while the other defined benefit pension plan covers personnel of an institution previously-acquired by BSPR. Benefits are based on salary and years of service. The accrual of benefits under the Pension Plans is frozen to all participants. The Corporation requires recognition of a plan’s overfunded and underfunded status as an asset or liability with an offsetting adjustment to accumulated other comprehensive loss pursuant to the ASC Topic 715, Compensation-Retirement Benefits. Actuarial gains or losses, prior-service costs, and transition assets or obligations are recognized as components of net periodic benefit costs. Year Ended December 31, 2020 Pension Plans Postretirement Benefit Plan (In thousands) Changes in projected benefit obligation: Projected benefit obligation, September 1 $ 107,571 $ 235 Interest cost 900 2 Actuarial loss (1) 1,321 28 Benefits paid ( 1,539) ( 20) Projected benefit obligation, December 31 $ 108,253 $ 245 Changes in plan assets: Fair value of plan assets, September 1 $ 104,522 $ - Actual return on plan assets 2,980 - Benefits paid ( 1,539) - Fair value of plan assets at the end of period 105,963 - Net benefit obligation $ ( 2,290) $ ( 245) (1) Significant components of the Pension Plans’ actuarial loss that changed the benefit obligation were mainly related to updates in discount and mortality rates. The following are the pre-tax amounts recognized in accumulated other comprehensive loss: Year Ended December 31, 2020 Pension Plans Postretirement Benefit Plan (In thousands) Net actuarial loss $ 404 $ 28 Net amount recognized $ 404 $ 28 The weighted-average assumed discount rate to determine the projected benefit obligations as of December 31, 2020 was 2.36%. Financial data relative to the Pension Plans and the Postretirement Benefit Plan is summarized in the following tables: Period from September 1, 2020 to December 31, 2020 Location Pension Plans Postretirement Benefit Plan (Dollars in thousands) Net periodic benefit (income) loss: Interest cost Other expenses $ 900 $ 2 Expected return on plan assets Other expenses ( 2,062) - Net periodic benefit (income) loss ( 1,162) 2 Pre-tax amounts recognized in OCI: Net actuarial loss 404 28 Net amount recognized in OCI 404 28 Total net periodic pension (income) loss recognized in total comprehensive income, pre-tax $ ( 758) $ 30 Weighted average assumptions used to determine net periodic pension cost: Discount rate 2.36 % 2.44 % Expected return on plan assets 5.99 % N/A % The discount rate is estimated as the single equivalent rate such that the present value of the plan’s projected benefit obligation cash flows using the single rate equals the present value of those cash flows using the above mean actuarial yield curve. In developing the expected long-term rate of return assumption, the Corporation evaluated input from a consultant and the Corporation’s long-term inflation assumptions and interest rate scenarios. Projected returns are based on the same asset categories as the plan using well-known broad indexes. Expected returns are based by historical returns with adjustments to reflect a more realistic future return. Adjustments are done by categories, taking into consideration current and future market conditions. The Corporation also considered historical returns on its plan assets to review the expected rate of return. The Corporation anticipated that the Plan’s portfolio would generate a weighted annual long-term rate of return of 5.99%. The investment policy statement for the Pension Plans includes: (i) liability hedging assets to reduce funded status risk, (ii) diversified return seeking assets to reduce equity risk, and (iii) establishes different glidepaths specific for each plan to systematically reduce risk as the funded status improves. The following presents the changes in accumulated other comprehensive loss of the Pension Plans and Postretirement Benefit Plan as of December 31, 2020: Year ended December 31, 2020 Pension Plans Postretirement Benefit Plan (In thousands) Accumulated other comprehensive loss at beginning of period $ - $ - Net actuarial loss 404 28 Total increase in other comprehensive loss 404 28 Accumulated other comprehensive loss at end of period $ 404 $ 28 The following table presents information for the plans with a projected benefit obligation and accumulated benefit obligation in excess of plan assets for the year ended December 31, 2020: Pension Plans Postretirement Benefit Plan (In thousands) Projected benefit obligation $ 70,179 $ 245 Accumulated benefit obligation 70,179 245 Fair value of plan assets 64,200 - The Pension Plans weighted-average asset allocations as of December 31, 2020 by asset category are as follows: December 31, 2020 Asset category Equity securities 0% Debt securities 0% Investment in funds 98% Other 2% 100% The Corporation does not expect to contribute to the Pension Plans during 2021. The Corporation’s investment policy with respect to the Corporation’s Pension Plans is to optimize, without undue risk, the total return on investment of the Plan assets after inflation, within a framework of prudent and reasonable portfolio risk. The investment portfolio is diversified in multiple asset classes to reduce portfolio risk, and assets may be shifted between asset classes to reduce volatility when warranted by projections of the economic and/or financial market environment, consistent with Employee Retirement Income Security Act of 1974, as amended (ERISA). As circumstances and market conditions change, the Corporation’s target asset allocations may be amended to reflect the most appropriate distribution given the new environment, consistent with the investment objectives. Expected future benefit payments for the plans are as follows: Pension Plans Postretirement Benefit Plan (Dollars in thousands) 2021 $ 6,415 $ 57 2022 6,935 47 2023 6,862 38 2024 6,793 30 2025 6,299 24 2026 through 2030 28,944 58 $ 62,248 $ 254 As of December 31, 2020, substantially all of the plan assets of $ 106 million were invested in common collective trusts, which primarily consist of equity securities, mortgage-backed securities, corporate bonds and U. S. Treasuries. The portfolios in both plans have been measured at fair value using the net asset value per unit as a practical expedient as permitted by ASC Topic 820, and accordingly, have not been classified in the fair value hierarchy as of December 31, 2020. Determination of Fair Value The valuation process begins with market quotations for the individual security. Since many fixed maturities do not trade on a daily basis, each asset class is evaluated on its own based on relevant market information, relevant credit information, perceived market movements, and sector news. The market inputs utilized in the pricing evaluation, listed in the approximate order of priority, include: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, reference data, and industry and economic events. The extent of the use of each market input depends on the asset class and the market conditions. Depending on the security, the priority of use of inputs may change or some market inputs may not be relevant. Additional inputs may be necessary for some securities. Some fair value estimates are determined from quotes provided by market makers or broker-dealers that are considered to be market participants and are considered to be an estimate of fair value that is indicative of market transactions. The following is a description of the valuation inputs and techniques used to measure the fair value of pension plan assets: Investment in Funds - Investment in collectible funds have been measured at fair value using the net assets value per unit practical expedient and, accordingly, have not been classified in the fair value hierarchy. Interest-Bearing Deposits - Interest-bearing deposits consist of money market accounts with short-term maturities and, therefore, the carrying value approximates fair value. Defined Contribution Plan In addition, FirstBank provides contributory retirement plans pursuant to Section 1081.01 of the Puerto Rico Internal Revenue Code of 2011 for Puerto Rico employees and Section 401(k) of the U.S. Internal Revenue Code for USVI and U.S. employees (the “Plans”). All employees are eligible to participate in the Plans after three months of service for purposes of making elective deferral contributions and one year of service for purposes of sharing in the Bank’s matching, qualified matching, and qualified non-elective contributions. Under the provisions of the Plans, the Bank contributes 50% of the first 6% of the participant’s compensation contributed to the Plans on a pretax basis, up to an annual limit. The matching contribution of fifty cents for every dollar of the employee’s contribution is comprised of: (i) twenty-five cents for every dollar of the employee’s contribution up to 6% of the employee’s eligible compensation to be paid to the Plan as of each bi-weekly payroll; and (ii) an additional twenty-five cents for every dollar of the employee’s contribution up to 6% of the employee’s eligible compensation to be deposited as a lump sum subsequent to the Plan Year. Puerto Rico employees were permitted to contribute up to $ 15,000 for each of 2020, 2019 and 2018 (USVI and U.S. employees - $ 19,500 for 2020, $ 19,000 for 2019 and $ 18,500 for 2018). Additional contributions to the Plans may be voluntarily made by the Bank as determined by its Board of Directors. No additional discretionary contributions were made for the years ended December 31, 2020, 2019 and 2018. The contributory savings plan assumed in the BSPR acquisition also provided for matching contribution up to 6% of the employee’s compensation. The Bank had total plan expenses of $ 3.0 million, $ 2.9 million and $ 1.5 million for the years ended December 31, 2020, 2019 and 2018, respectively. |
OTHER NON- INTEREST EXPENSES
OTHER NON- INTEREST EXPENSES | 12 Months Ended |
Dec. 31, 2020 | |
Other Non Interest Expenses [Abstract] | |
Other Noninterest Expenses [Text Block] | NOTE 25 – OTHER NON-INTEREST EXPENSES A detail of other non-interest expenses is as follows for the indicated periods: Year Ended December 31, 2020 2019 2018 (In thousands) Supplies and printing $ 2,391 $ 1,966 $ 2,177 Amortization of intangible assets 5,912 3,086 3,593 Servicing and processing fees 4,696 4,781 4,991 Insurance and supervisory fees 6,324 3,596 4,602 Provision for operational losses 3,390 2,164 1,836 Other 3,105 4,640 5,140 Total $ 25,818 $ 20,233 $ 22,339 |
OTHER NON- INTEREST INCOME
OTHER NON- INTEREST INCOME | 12 Months Ended |
Dec. 31, 2020 | |
Other Non-interest Income [Abstract] | |
Other Noninterest Income [Text Block] | NOTE 26 – OTHER NON-INTEREST INCOME A detail of other non-interest income is as follows for the indicated periods: Year Ended December 31, 2020 2019 2018 (In thousands) Non-deferrable loan fees $ 3,750 $ 2,789 $ 2,384 Merchant-related income 5,844 5,635 5,244 ATM and POS fees 7,723 9,147 9,515 Credit and debit card interchange and other fees 12,042 11,759 9,598 Mail and cable transmission commissions 2,540 2,207 2,101 Fair value adjustments and gain (losses) on sales of commercial and construction loans held for sale - 2,316 ( 3,186) Gain (loss) from sales of fixed-assets 215 ( 242) 1,366 Gain from insurance proceeds 5,000 660 537 Other 4,720 5,638 5,183 Total $ 41,834 $ 39,909 $ 32,742 |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES [Text Block] | NOTE 27 – INCOME TAXES Income tax expense includes Puerto Rico and USVI income taxes, as well as applicable U.S. federal and state taxes. The Corporation is subject to Puerto Rico income tax on its income from all sources. As a Puerto Rico corporation, FirstBank is treated as a foreign corporation for U.S. and USVI income tax purposes and, accordingly, is generally subject to U.S. and USVI income tax only on its income from sources within the U.S. and USVI or income effectively connected with the conduct of a trade or business in those jurisdictions. Any such tax paid in the U.S. and USVI is also creditable against the Corporation’s Puerto Rico tax liability, subject to certain conditions and limitations. Under the Puerto Rico Internal Revenue Code of 2011, as amended (the “2011 PR Code”), the Corporation and its subsidiaries are treated as separate taxable entities and are not entitled to file consolidated tax returns and, thus, the Corporation is generally not entitled to utilize losses from one subsidiary to offset gains in another subsidiary. Accordingly, in order to obtain a tax benefit from a net operating loss (“NOL”), a particular subsidiary must be able to demonstrate sufficient taxable income within the applicable NOL carry-forward period. Pursuant to the 2011 PR Code, the carry-forward period for NOLs incurred during taxable years that commenced after December 31, 2004 and ended before January 1, 2013 is 12 years; for NOLs incurred during taxable years commencing after December 31, 2012, the carryover period is 10 years. The 2011 PR Code provides a dividend received deduction of 100% on dividends received from “controlled” subsidiaries subject to taxation in Puerto Rico and 85% on dividends received from other taxable domestic corporations. On December 10, 2018, the Governor of Puerto Rico signed into law Act 257 (“Act 257”) to amend some of the provisions of the 2011 PR Code, as amended. Act 257 introduced various changes to the income tax regime in the case of individuals and corporations, and the sales and use taxes, which took effect on January 1, 2019, including, among others, (i) a reduction in the Puerto Rico maximum corporate tax rate from 39% to 37.5%; (ii) an increase in the net operating and capital losses usage limitation from 80% to 90%; (iii) amendments to the provisions related to “pass-through” entities that provide that corporations that own 50% or more of a partnership will not be able to claim a current or carryover non-partnership NOL deduction against a partnership distributable share, adversely impacting a tax action taken in 2017 under which the Corporation and the Bank were previously allowed to offset pass-through income earned by pass-through entities with non-partnership net operating losses at the parent company level, more significantly in connection with the pass-through income earned by FirstBank Insurance; and (iv) other limitations on certain deductions, such as meals and entertainment deductions. The Corporation has maintained an effective tax rate lower than the maximum statutory rate mainly by investing in government obligations and MBS exempt from U.S. and Puerto Rico income taxes and by doing business through an 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. Among these, are 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 December 31, 2020 was not significant. The components of income tax expense (benefit) are summarized below for the indicated periods: Year Ended December 31, 2020 2019 2018 (In thousands) Current income tax expense $ 18,421 $ 16,986 $ 14,073 Deferred income tax expense (benefit): Adjustment for enacted changes in tax law - - 15,402 Reversal of deferred tax asset valuation allowance ( 8,000) - ( 63,228) Other deferred income tax expense 3,629 55,009 22,783 Total income tax expense (benefit) $ 14,050 $ 71,995 $ ( 10,970) The differences between the income tax expense applicable to income before the provision for income taxes and the amount computed by applying the statutory tax rate in Puerto Rico were as follows for the indicated periods: Year Ended December 31, 2020 2019 2018 Amount % of Pretax Income Amount % of Pretax Income Amount % of Pretax Income (Dollars in thousands) Computed income tax at statutory rate $ 43,621 37.5 % $ 89,764 37.5 % $ 74,349 39.0 % Federal and state taxes 4,944 4.2 % 4,467 1.6 % 3,768 2.0 % Benefit of net exempt income ( 26,780) ( 23.0) % ( 24,811) ( 10.4) % ( 22,782) ( 12.0) % Disallowed NOL carryforward resulting from net exempt income 9,054 7.8 % 15,887 6.6 % 14,904 7.8 % Deferred tax valuation allowance ( 12,095) ( 10.4) % ( 14,108) ( 5.9) % ( 90,521) ( 47.5) % Adjustments in net deferred tax assets due to changes in enacted tax rates - - % - - % 15,402 8.1 % Share-based compensation windfall 157 0.1 % ( 1,165) ( 0.5) % ( 1,595) ( 0.8) % Nondeductible expenses and other permanent differences ( 387) ( 0.3) % ( 1,712) ( 0.7) % ( 839) ( 0.4) % Tax return to provision adjustments 597 0.5 % 1,846 0.8 % 4 - % Other-net ( 5,061) ( 4.3) % 1,827 1.1 % ( 3,660) ( 1.9) % Total income tax expense (benefit) $ 14,050 12.1 % $ 71,995 30.1 % $ ( 10,970) ( 5.7) % Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and their tax bases. Significant components of the Corporation's deferred tax assets and liabilities as of December 31, 2020 and 2019 were as follows: December 31, 2020 2019 (In thousands) Deferred tax asset: NOL carryforward $ 220,496 $ 259,717 Allowance for credit losses 151,586 58,793 Alternative Minimum Tax credits available for carryforward 27,396 13,813 Unrealized loss on OREO valuation 13,426 13,963 Settlement payment-closing agreement 7,031 7,031 Legal and other reserves 4,120 2,791 Reserve for insurance premium cancellations 941 613 Differences between the assigned values and tax bases of assets and liabilities recognized in purchase business combinations 11,956 - Other 8,647 9,722 Total gross deferred tax assets $ 445,599 $ 366,443 Deferred tax liabilities: Differences between the assigned values and tax bases of assets and liabilities recognized in purchase business combinations - 3,823 Servicing assets 9,571 8,906 Unrealized gain on available-for-sale securities, net 4,730 1,808 Other 53 511 Total gross deferred tax liabilities 14,354 15,048 Valuation allowance ( 101,984) ( 86,553) Net deferred tax asset $ 329,261 $ 264,842 Accounting for income taxes requires that companies assess whether a valuation allowance should be recorded against their deferred tax asset based on an assessment of the amount of the deferred tax asset that is “more likely than not” to be realized. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount that is more likely than not to be realized. Management assesses the valuation allowance recorded against deferred tax assets at each reporting date. The determination of whether a valuation allowance for deferred tax assets is appropriate is subject to considerable judgment and requires the evaluation of positive and negative evidence that can be objectively verified. Consideration must be given to all sources of taxable income available to realize the deferred tax asset, including, as applicable, the future reversal of existing temporary differences, future taxable income forecasts exclusive of the reversal of temporary differences and carryforwards, and tax planning strategies. In estimating taxes, management assesses the relative merits and risks of the appropriate tax treatment of transactions taking into account statutory, judicial, and regulatory guidance. 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. In connection with the acquisition of BSPR, the Corporation re-evaluated the forecast of its projected taxable income, and, after consideration of the available positive and negative evidence, a partial release of the valuation allowance of $ 8.0 After completion of the deferred tax asset valuation allowance analysis for the fourth quarter of 2020, management concluded that, as of December 31, 2020, it is more likely than not that FirstBank, the banking subsidiary, will generate sufficient taxable income to realize $ 144.7 million of its deferred tax assets related to NOLs within the applicable carry-forward periods. The net deferred tax assets of FirstBank amounted to $ 329.1 million as of December 31, 2020, net of a valuation allowance of $ 59.9 million, compared to a deferred tax asset of $ 264.8 million, net of a valuation allowance of $ 55.6 million, as of December 31, 2019. The positive evidence considered by management in arriving at its conclusion included factors such as: FirstBank’s three-year cumulative income position; sustained periods of profitability; management’s proven ability to forecast future income accurately and execute tax strategies; forecasts of future profitability, under several potential scenarios that support the partial utilization of NOLs prior to their expiration from 2021 through 2024; and the utilization of NOLs over the past three-years. The negative evidence considered by management included: uncertainties about the state of the Puerto Rico economy, including considerations on the impact of hurricane and pandemic recovery funds together with Puerto Rico government debt renegotiation efforts and the ultimate sustainability of the latest fiscal plan certified by the PROMESA oversight board. Management’s estimate of future taxable income is based on internal projections that consider historical performance, multiple internal scenarios and assumptions, as well as external data that management believes is reasonable. If events are identified that affect the Corporation’s ability to utilize its deferred tax assets, the analysis will be updated to determine if any adjustments to the valuation allowance are required. If actual results differ significantly from the current estimates of future taxable income, even if caused by adverse macro-economic conditions, the remaining valuation allowance may need to be increased. Such an increase could have a material adverse effect on the Corporation’s financial condition and results of operations. Conversely, a higher than projected proportion of taxable income to exempt income could lead to a higher usage of available NOLs and a lower amount of disallowed NOLs from projected levels of tax-exempt income, per the 2011 PR code, which in turn could result in further releases of the deferred tax valuation allowance; any such decreases could have a material positive effect on the Corporation’s financial condition and results of operations. As of December 31, 2020, approximately $ 210.7 million of the deferred tax assets of the Corporation are attributable to temporary differences or tax credit carryforwards that have no expiration date, compared to $ 92.0 million in 2019. The valuation allowance attributable to FirstBank’s deferred tax assets of $ 59.9 million as of December 31, 2020 is related to the estimated NOL disallowance attributable to projected levels of tax-exempt income, NOLs attributable to the Virgin Islands jurisdiction, and capital losses. The remaining balance of $ 43 million of the deferred tax asset valuation allowance non-attributable to FirstBank is mainly related to NOLs and capital losses at the holding company level. The Corporation will continue to provide a valuation allowance against its deferred tax assets in each applicable tax jurisdiction until the need for a valuation allowance is eliminated. The need for a valuation allowance is eliminated when the Corporation determines that it is more likely than not the deferred tax assets will be realized. The ability to recognize the remaining deferred tax assets that continue to be subject to a valuation allowance will be evaluated on a quarterly basis to determine if there are any significant events that would affect the ability to utilize these deferred tax assets. The Corporation has U.S. and USVI sourced NOL carryforwards. Section 382 of the U.S. Internal Revenue Code (“Section 382”) limits the ability to utilize U.S. and USVI NOLs for income tax purposes in such jurisdictions following an event that is considered to be an “ownership change”. Generally, an “ownership change” occurs when certain shareholders increase their aggregate ownership by more than 50 percentage points over their lowest ownership percentage over a three-year testing period. Upon the occurrence of a Section 382 ownership change, the use of NOLs attributable to the period prior to the ownership change is subject to limitations and only a portion of the U.S. and USVI NOLs may be used by the Corporation to offset its annual U.S. and USVI taxable income, if any. In 2017, the Corporation completed a formal ownership change analysis within the meaning of Section 382 covering a comprehensive period and concluded that an ownership change had occurred during such period. The Section 382 limitation has resulted in higher U.S. and USVI income tax liabilities than we would have incurred in the absence of such limitation. The Corporation has mitigated to an extent the adverse effects associated with the Section 382 limitation as any such tax paid in the U.S. or USVI 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 2020 and 2019, the Corporation incurred an income tax expense of approximately $ 4.9 million and $ 4.5 million, respectively, related to its U.S. operations. The limitation did not impact the USVI operations in 2020 and 2019. The Corporation accounts for uncertain tax positions under the provisions of ASC Topic 740. The Corporation’s policy is to report interest and penalties related to unrecognized tax benefits in income tax expense. As of December 31, 2020, the Corporation had an expense of $ 117 thousand of interest and penalties related to uncertain tax positions in the amount of $ 1.0 million that it acquired from BSPR, which, if recognized, would decrease the effective income tax rate in future periods. The amount of unrecognized tax benefits may increase or decrease in the future for various reasons, including adding amounts for current tax year positions, expiration of open income tax returns due to the statute of limitations, changes in management’s judgment about the level of uncertainty, the status of examinations, litigation, and legislative activity, and the addition or elimination of uncertain tax positions. The statute of limitations under the 2011 PR code is four years; the statute of limitations for U.S. and USVI income tax purposes is three years after a tax return is due or filed, whichever is later. The completion of an audit by the taxing authorities or the expiration of the statute of limitations for a given audit period could result in an adjustment to the Corporation’s liability for income taxes. Any such adjustment could be material to the results of operations for any given quarterly or annual period based, in part, upon the results of operations for the given period. For U.S. and USVI income tax purposes, all tax years subsequent to 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) | 12 Months Ended |
Dec. 31, 2020 | |
Statement of Other Comprehensive Income [Abstract] | |
Comprehensive Income (Loss) Note [Text Block] | NOTE 28 – OTHER COMPREHENSIVE INCOME (LOSS) The following table presents changes in accumulated other comprehensive income (loss) for the years ended December 31, 2020, 2019 and 2018: Changes in Accumulated Other Comprehensive Income (Loss) by Component (1) Year ended December 31, 2020 2019 2018 (In thousands) Unrealized net holding gains (losses) on debt securities: Beginning balance $ 6,764 $ ( 40,415) $ ( 20,609) Other comprehensive income (loss) 48,961 47,179 ( 19,806) Ending balance $ 55,725 $ 6,764 $ ( 40,415) Unrealized holding losses on equity securities: Beginning balance $ - $ - $ ( 6) Reclassification to retained earnings per ASU 2016-01 - - 6 Ending balance $ - $ - $ - Adjustment of pension and postretirement benefit plans: Beginning balance $ - $ - $ - Other comprehensive loss ( 270) - - Ending balance $ ( 270) $ - $ - ______________________ (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) for the years ended December 31, 2020, 2019 and 2018: Reclassifications Out of Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Consolidated Statements of Income Year ended December 31, 2020 2019 2018 (In thousands) Unrealized net holding gains (losses) on debt securities: Realized (gain) loss on sale Net gain (loss) on of debt securities investments securities $ ( 13,198) $ - $ 34 Provision for credit losses Provision for credit losses 1,641 - - OTTI on debt securities (1) Net gain (loss) on investment securities - ( 497) 50 Total before tax $ ( 11,557) $ ( 497) $ 84 Income tax expense (benefit) - - - Total, net of tax $ ( 11,557) $ ( 497) $ 84 ASC 326, which became effective on January 1, 2020, requires credit losses on available-for -sale debt securities to be presented as an allowance rather than as a write-down. Thus, credit losses on debt securities recorded prior to January 1, 2020 are presented as OTTI on debt securities while credit losses on debt securities recorded after January 1, 2020 are presented as part of provision for credit losses. |
LEASES
LEASES | 12 Months Ended |
Dec. 31, 2020 | |
Leases [Abstract] | |
Lessee, Operating Leases [Text Block] | NOTE 29 – 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 ATMs. Our leases mainly have terms ranging from two years to 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 ROU assets are recorded in other assets in the Corporation’s consolidated statements of financial condition. As of December 31, 2020 and 2019, the Corporation did not have a lease that qualifies as a finance lease. Operating lease cost for the year ended December 31, 2020 amounted to $ 13.8 million (2019 - $ 10.7 million), 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 million. Lease liabilities assumed in the BSPR acquisition were measured based on the net present value of remaining future lease payments, with considerations given to options to extend or renew each lease. Remaining future lease payments were discounted at the Corporation’s estimated incremental borrowing rate as of the date of acquisition. Supplemental balance sheet information related to leases as of the indicated dates was as follows: As of As of December 31, December 31, 2020 2019 (Dollars in thousands) ROU asset $ 103,186 $ 61,327 Operating lease liability $ 106,502 $ 64,259 Operating lease weighted-average remaining lease term (in years) 8.5 10.8 Operating lease weighted-average discount rate 2.25% 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: Year Ended Year Ended December 31, December 31, 2020 2019 (In thousands) Operating cash flow from operating leases (1) $ 13,464 $ 10,219 ROU assets obtained in exchange for operating lease liabilities (2) 1,328 10,762 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 December 31, 2020, were as follows: Amount (In thousands) 2021 $ 19,062 2022 17,945 2023 16,018 2024 14,507 2025 13,363 2026 and later years 37,783 Total lease payments 118,678 Less: imputed interest ( 12,176) Total present value of lease liability $ 106,502 |
FAIR VALUE
FAIR VALUE | 12 Months Ended |
Dec. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE [Text Block] | NOTE 30 – 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 judgment 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, 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, when available (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 in 2020, 2019 and 2018 was immaterial. Assets and liabilities measured at fair value on a recurring basis are summarized below as of December 31, 2020 and 2019: As of December 31,2020 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 $ 7,507 $ - $ - $ 7,507 $ 7,479 $ - $ - $ 7,479 Noncallable U.S. agencies debt securities - 173,371 - 173,371 - 146,777 - 146,777 Callable U.S. agencies debt securities and MBS - 4,454,164 - 4,454,164 - 1,950,331 - 1,950,331 Puerto Rico government obligations - - 2,899 2,899 - 4,348 2,974 7,322 Private label MBS - - 8,428 8,428 - - 11,116 11,116 Other investments - - 650 650 - - 500 500 Equity securities 1,474 - - 1,474 1,428 - - 1,428 Derivatives, included in assets: Interest rate swap agreements - 1,622 - 1,622 - - - - Purchased interest rate cap agreements - 1 - 1 - 11 - 11 Forward contracts - 102 - 102 - - - - Interest rate lock commitments - 737 - 737 - 341 - 341 Forward loan sales commitments - 20 - 20 - 20 - 20 Liabilities: Derivatives, included in liabilities: Interest rate swap agreements - 1,639 - 1,639 - - - - Written interest rate cap agreements - 1 - 1 - 11 - 11 Forward contracts - 280 - 280 - 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 years ended December 31, 2020, 2019, and 2018: 2020 2019 2018 Level 3 Instruments Only Securities Available for Sale (1) Securities Available for Sale (1) Securities Available for Sale (1) (In thousands) Beginning balance $ 14,590 $ 17,238 $ 19,855 Total gain (losses) (realized/unrealized): Included in other comprehensive income 2,403 714 222 Included in earnings ( 1,641) ( 497) ( 50) BSPR securities acquired 150 - - Purchases - - 500 Principal repayments and amortization ( 3,525) ( 2,865) ( 3,289) Ending balance $ 11,977 $ 14,590 $ 17,238 ___________________ (1) Amounts mostly related to private label MBS. The tables below present qualitative information for significant assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as of December 31, 2020 and 2019: December 31,2020 Fair Value Valuation Technique Unobservable Input Range Weighted Average (Dollars in thousands) Minimum Maximum Investment securities available-for-sale: Private label MBS $ 8,428 Discounted cash flows Discount rate 12.2% 12.2% 12.2% Prepayment rate 1.2% 18.8% 12.1% Projected Cumulative Loss Rate 2.6% 22.3% 10.2% Puerto Rico government obligations 2,899 Discounted cash flows Discount rate 7.9% 7.9% 7.9% Projected Cumulative Loss Rate 12.4% 12.4% 12.4% 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 years ended December 31, 2020, 2019 and 2018 for Level 3 assets and liabilities that were still held at the end of each year: Changes in Unrealized Losses Year Ended December 31, 2020 2019 2018 Level 3 Instruments Only 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) $ ( 50) Provision for credit losses (2) ( 1,641) - - Total $ ( 1,641) $ ( 497) $ ( 50) For 2020, credit-related impairment recognized in earnings is classified as provision for credit losses due to the Corporation’s adoption of CECL on January 1, 2020. For more information, see Note 1 – “Nature of Business and Summary Significant of Accounting Policies,” above. Prior to the Corporation’s adoption of CECL on January 1, 2020, the provision for credit losses from debt securities was not applicable and therefore no amount is presented for the prior period. For more information, see Note 1 – “ Nature of Business and Summary of Significant Accounting Policies,” above. 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 December 31, 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 December 31, 2020 Losses recorded for the Year Ended December 31, 2020 Level 1 Level 2 Level 3 (In thousands) Loans receivable (1) $ - $ - $ 246,803 $ ( 5,675) OREO (2) - - 83,060 ( 1,970) 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. 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 December 31,2019, the Corporation recorded losses or valuation adjustments for assets recognized at fair value on a non-recurring basis as shown in the following table: Carrying value as of December 31, 2019 Losses recorded for the Year Ended December 31,2019 Level 1 Level 2 Level 3 (In thousands) Loans receivable (1) $ - $ - $ 217,252 $ ( 18,013) OREO (2) - - 101,626 ( 6,572) 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. 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 December 31, 2018, the Corporation recorded losses or valuation adjustments for assets recognized at fair value on a nonrecurring basis as shown in the following table: Carrying value as of December 31, 2018 Losses recorded for the Year Ended December 31, 2018 Level 1 Level 2 Level 3 (In thousands) Loans receivable (1) $ - $ - $ 365,726 $ ( 29,799) OREO (2) - - 131,402 ( 11,499) Loans Held For Sale (3) - - 16,111 ( 10,102) Consists mainly of collateral dependent commercial and construction loans. The Corporation generally measured the impairments 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. 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. Represents nonaccrual commercial and construction loans transferred to held for sale in 2018 and still in inventory at year-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 December 31, 2020 are as follows: December 31,2020 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 December 31, 2020 and 2019: Total Carrying Amount in Statement of Financial Condition as of December 31,2020 Fair Value Estimate as of December 31,2020 Level 1 Level 2 Level 3 (In thousands) Assets: Cash and due from banks and money market investments (amortized cost) $ 1,493,833 $ 1,493,833 $ 1,493,833 $ - $ - Investment securities available for sale (fair value) 4,647,019 4,647,019 7,507 4,627,535 11,977 Investment securities held to maturity (amortized cost) $ 189,488 Less: allowance for credit losses on held to maturity securities ( 8,845) Investment securities held to maturity, net of allowance $ 180,643 173,806 - - 173,806 Equity securities (fair value) 37,588 37,588 1,474 36,114 - Loans held for sale (lower of cost or market) 50,289 52,322 - 52,322 - Loans, held for investment (amortized cost) 11,777,289 Less: allowance for credit losses for loans and finance leases ( 385,887) Loans held for investment, net of allowance $ 11,391,402 11,564,635 - - 11,564,635 Derivatives, included in assets (fair value) 2,482 2,482 - 2,482 - Liabilities: Deposits (amortized cost) $ 15,317,383 $ 15,363,236 $ - $ 15,363,236 $ - Securities sold under agreements to repurchase (amortized cost) 300,000 329,493 - 329,493 - Advances from FHLB (amortized cost) 440,000 446,703 - 446,703 - Other borrowings (amortized cost) 183,762 151,645 - - 151,645 Derivatives, included in liabilities (fair value) 1,920 1,920 - 1,920 - Total Carrying Amount in Statement of Financial Condition as of December 31, 2019 Fair Value Estimate as of 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 | 12 Months Ended |
Dec. 31, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contract with Customer [Text Block] | NOTE 31 – REVENUE FROM CONTRACTS WITH CUSTOMERS Revenue Recognition In accordance with 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 years ended December 31, 2020 and 2019: (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Treasury and Investments United States Operations Virgin Islands Operations Total Year ended December 31, 2020: Net interest income (1) $ 76,025 $ 220,678 $ 135,591 $ 87,879 $ 54,025 $ 26,124 $ 600,322 Service charges and fees on deposit accounts - 13,286 8,026 - 553 2,747 24,612 Insurance commissions - 8,754 - - 52 558 9,364 Merchant-related income - 4,516 478 - 41 809 5,844 Credit and debit card fees - 18,218 62 - 16 1,469 19,765 Other service charges and fees 342 2,900 2,260 184 1,800 1,508 8,994 Not in scope of ASC Topic 606 (1)(2) 21,727 3,288 1,780 13,524 2,168 160 42,647 Total non-interest income 22,069 50,962 12,606 13,708 4,630 7,251 111,226 Total Revenue $ 98,094 $ 271,640 $ 148,197 $ 101,587 $ 58,655 $ 33,375 $ 711,548 (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Treasury and Investments United States Operations Virgin Islands Operations Total Year ended December 31, 2019: Net interest income (1) $ 68,803 $ 244,535 $ 91,266 $ 73,626 $ 62,539 $ 26,312 $ 567,081 Service charges and fees on deposit accounts - 14,534 5,811 - 631 2,940 23,916 Insurance commissions - 9,621 - - 67 498 10,186 Merchant-related income - 4,120 466 - - 1,049 5,635 Credit and debit card fees - 19,014 104 - 43 1,744 20,905 Other service charges and fees 216 3,012 2,690 - 1,558 1,313 8,789 Not in scope of Topic 606 (1) 16,609 1,428 2,643 ( 225) 508 178 21,141 Total non-interest income 16,825 51,729 11,714 ( 225) 2,807 7,722 90,572 Total Revenue $ 85,628 $ 296,264 $ 102,980 $ 73,401 $ 65,346 $ 34,034 $ 657,653 (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Treasury and Investments United States Operations Virgin Islands Operations Total Year ended December 31, 2018: Net interest income (1) $ 79,389 $ 217,933 $ 78,675 $ 61,628 $ 59,056 $ 28,702 $ 525,383 Service charges and fees on deposit accounts - 13,332 4,965 - 559 2,812 21,668 Insurance commissions - 7,889 - - 87 455 8,431 Merchant-related income - 3,561 748 - - 934 5,243 Credit and debit card fees - 17,538 1,225 - 618 2,061 21,442 Other service charges and fees 252 4,391 1,280 71 1,351 525 7,870 Not in scope of Topic 606 (1) 16,821 995 ( 3,060) 2,434 405 61 17,656 Total non-interest income 17,073 47,706 5,158 2,505 3,020 6,848 82,310 Total Revenue $ 96,462 $ 265,639 $ 83,833 $ 64,133 $ 62,076 $ 35,550 $ 607,693 (1) Most of the Corporation’s revenue is not within the scope of ASC Topic 606. The guidance explicitly excludes net interest income from financial assets and liabilities, as well as other non-interest income from loans, leases, investment securities and derivative financial instruments. (2) For the year ended December 31, 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 2020, 2019, and 2018, 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 the 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, insufficient 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 of $ 3.3 million, $ 3.0 million, and $ 2.4 million, for the years ended December 31, 2020, 2019, and 2018, respectively. 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. For the year ended December 31, 2020, other fees also included trust fees recognized from transfer paying agent, retirement plan, and other trustee activities. Revenues are recognized on a recurring basis when the services are rendered. 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 until 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 December 31, 2020 and 2019, these contract liabilities amounted to approximately $ 2.2 million and $ 2.5 million, respectively, which will be recognized over the remaining term of the contracts. In each of the years ended December 31, 2020, 2019, and 2018, the Corporation recognized revenue and its contract liabilities decreased by approximately $ 0.3 million, 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 December 31, 2020 and 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 years ended December 31, 2020, 2019 and 2018: (In thousands) 2020 2019 2018 Beginning Balance $ 2,476 $ 2,071 $ 2,396 Plus: Additions - 730 - Less: Amortizations ( 325) ( 325) ( 325) Ending balance $ 2,151 $ 2,476 $ 2,071 Other Except for the contract liabilities noted above, the Corporation did not have any significant performance obligations as of December 31, 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 | 12 Months Ended |
Dec. 31, 2020 | |
Supplemental Cash Flow Elements [Abstract] | |
SUPPLEMENTAL CASH FLOW INFORMATION [Text Block] | NOTE 32 – SUPPLEMENTAL STATEMENT OF CASH FLOWS INFORMATION Supplemental statement of cash flows information is as follows for the indicated periods: Year Ended December 31, 2020 2019 2018 (In thousands) Cash paid for: Interest on borrowings $ 94,872 $ 107,010 $ 98,194 Income tax 16,713 13,495 7,175 Operating cash flow from operating leases 13,464 10,219 - Non-cash investing and financing activities: Additions to OREO 7,249 40,398 48,767 Additions to auto and other repossessed assets 36,203 47,643 52,023 Capitalization of servicing assets 4,864 4,039 3,864 Loan securitizations 221,491 235,258 233,175 Loans held for investment transferred to held for sale 10,817 24,470 90,319 Loans held for sale transferred to held for investment - - 2,179 Payable on unsettled securities purchases 24,033 - - ROU asset obtained in exchange for operating lease liabilities 1,328 10,762 - Adoption of lease accounting standard: ROU asset operating leases - 57,178 - Operating lease liabilities - 59,818 - Acquisition (see Note 2): Consideration 1,280,424 - - Fair value of assets acquired 5,561,564 - - Liabilities assumed 4,291,674 - - |
REGULATORY MATTERS, COMMITMENTS
REGULATORY MATTERS, COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Dec. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
REGULATORY MATTERS, COMMITMENTS AND CONTINGENCIES [Text Block] | NOTE 33 – 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 December 31, 2020, and 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 December 31, 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 December 31, 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 December 31, 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 December 31, 2020. The regulatory capital position of the Corporation and FirstBank as of December 31, 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 December 31, 2020 Total Capital (to risk-weighted assets) First BanCorp. $ 2,416,682 20.37% $ 948,890 8.0% N/A N/A FirstBank $ 2,360,493 19.91% $ 948,624 8.0% $ 1,185,780 10.0% CET1 Capital (to risk-weighted assets) First BanCorp. $ 2,053,045 17.31% $ 533,751 4.5% N/A N/A FirstBank $ 1,903,251 16.05% $ 533,601 4.5% $ 770,757 6.5% Tier I Capital (to risk-weighted assets) First BanCorp. $ 2,089,149 17.61% $ 711,667 6.0% N/A N/A FirstBank $ 2,211,251 18.65% $ 711,468 6.0% $ 948,624 8.0% Leverage ratio First BanCorp. $ 2,089,149 11.26% $ 742,352 4.0% N/A N/A FirstBank $ 2,211,251 11.92% $ 741,841 4.0% $ 927,301 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 following table summarizes commitments to extend credit and standby letters of credit as of the indicated dates: December 31, 2020 2019 (In thousands) Financial instruments whose contract amounts represent credit risk: Commitments to extend credit: Construction undisbursed funds $ 119,900 $ 185,569 Unused personal lines of credit 1,180,860 722,761 Commercial lines of credit 759,947 533,230 Commercial letters of credit 135,987 82,281 Standby letters of credit 4,964 4,452 The Corporation’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument on commitments to extend credit and standby letters of credit is represented by the contractual amount of those instruments. Management uses the same credit policies and approval process in entering into commitments and conditional obligations as it does for on-balance sheet instruments. 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. In general, commercial and standby letters of credit are issued to facilitate foreign and domestic trade transactions. Normally, commercial and standby letters of credit are short-term commitments used to finance commercial contracts for the shipment of goods. The collateral for these letters of credit includes cash or available commercial lines of credit. The fair value of commercial and standby letters of credit is based on the fees currently charged for such agreements, which, as of December 31, 2020 and 2019, were not significant. The Corporation obtained from GNMA commitment authority to issue GNMA MBS. Under this program, for 2020, the Corporation sold approximately $ 221.5 million (2019 - $ 235.3 million) of FHA/VA mortgage loan production into GNMA MBS. As of December 31, 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 December 31, 2020, no such disclosures were necessary. |
DERIVATIVE INSTRUMENTS AND HEDG
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES | 12 Months Ended |
Dec. 31, 2020 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES [Text Block] | NOTE 34 – 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 December 31, 2020 and 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 statements of financial condition. Changes in the fair values 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 December 31, 2020 2019 (In thousands) Undesignated economic hedges: Interest rate contracts: Interest rate swap agreements $ 15,864 $ - Written interest rate cap agreements 14,500 21,010 Purchased interest rate cap agreements 14,500 21,010 Interest rate lock commitments 19,931 11,456 Forward Contracts: Sale of TBA GNMA MBS pools 42,000 35,000 Forward loan sales commitments 19,998 6,418 $ 126,793 $ 94,894 (1) 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 Statements of December 31, December 31, December 31, December 31, Financial Condition 2020 2019 Statements of 2020 2019 Location Fair Value Fair Value Financial Condition Location Fair Value Fair Value (In thousands) Undesignated economic hedges: Interest rate contracts: Interest rate swap agreements Other assets $ 1,622 $ - Accounts payable and other liabilities $ 1,639 $ - 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 737 341 Accounts payable and other liabilities - - Forward Contracts: Sales of TBA GNMA MBS pools Other assets 102 - Accounts payable and other liabilities 280 138 Forward loan sales commitments Other assets 20 20 Accounts payable and other liabilities - - $ 2,482 $ 372 $ 1,920 $ 149 The following table summarizes the effect of derivative instruments on the consolidated statements of income for the indicated periods: Gain (or Loss) Location of Unrealized Gain (Loss) Year ended on Derivative Recognized in December 31, Statements of Income 2020 2019 2018 (In thousands) Undesignated economic hedges: Interest rate contracts: Interest rate swap agreements Interest income - Loans $ 27 $ - $ - Written and purchased interest rate cap agreements Interest income - Loans - ( 6) 22 Interest rate lock commitments Mortgage Banking Activities 576 224 383 Forward contracts: Sales of TBA GNMA MBS pools Mortgage Banking Activities ( 54) 245 ( 371) Forward loan sales commitments Mortgage Banking Activities ( 37) 8 12 Total gain on derivatives $ 512 $ 471 $ 46 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 December 31, 2020, the Corporation had not entered into any derivative instrument containing credit-risk-related contingent features. Credit and Market Risk of Derivatives The Corporation uses derivative instruments to manage interest rate risk. By using derivative instruments, the Corporation is exposed to credit and market risk. If the counterparty fails to perform, credit risk is equal to the extent of the Corporation’s fair value gain on the derivative. When the fair value of a derivative instrument contract is positive, this generally indicates that the counterparty owes the Corporation which, therefore, creates a credit risk for the Corporation. When the fair value of a derivative instrument contract is negative, the Corporation owes the counterparty and, therefore, it has no credit risk. The Corporation minimizes its credit risk in derivative instruments by entering into transactions with reputable broker dealers (financial institutions) that are reviewed periodically by the Management Investment and Asset Liability Committee of the Corporation (the “MIALCO”) and by the Board of Directors. The Corporation also has a policy of requiring that all derivative instrument contracts be governed by an International Swaps and Derivatives Association Master Agreement, which includes a provision for netting. The Corporation has a policy of diversifying derivatives counterparties to reduce the consequences of counterparty default. The Corporation had credit risk of $ 2.5 million as of December 31, 2020 (2019 - $ 0.4 million) related to derivative instruments with positive fair values. The credit risk does not consider the value of any collateral and the effects of legally enforceable master netting agreements. There were no credit losses associated with derivative instruments recognized in 2020, 2019, or 2018. Market risk is the adverse effect that a change in interest rates or implied volatility rates has on the value of a financial instrument. The Corporation manages the market risk associated with interest rate contracts by establishing and monitoring limits as to the types and degree of risk that may be undertaken. The MIALCO monitors the Corporation’s derivative activities as part of its risk-management oversight of the Corporation’s treasury functions. |
OFFSETTING OF ASSETS AND LIABIL
OFFSETTING OF ASSETS AND LIABILITIES | 12 Months Ended |
Dec. 31, 2020 | |
Offsetting [Abstract] | |
Offsetting of assets and liabilties [Table Text Block] | NOTE 35 – 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 December 31, 2020 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 Gross Amounts Not Offset in the Statement of Financial Condition Financial Instruments Cash Collateral Net Amount (In thousands) Description Derivatives $ 89 $ - $ 89 $ - $ ( 89) $ - As of December 31, 2019 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 Gross Amounts Not Offset in the Statement of Financial Condition Financial Instruments Cash Collateral Net Amount (In thousands) Description Derivatives $ 11 $ - $ 11 $ - $ ( 11) $ - Securities purchased under agreement to resell 200,000 ( 200,000) - - - - Total $ 200,011 $ ( 200,000) $ 11 $ - $ ( 11) $ - Offsetting of Financial Liabilities and Derivative Liabilities As of December 31, 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 $ 1,919 $ - $ 1,919 $ ( 1,919) $ - $ - Securities sold under agreements to repurchase 300,000 - 300,000 ( 300,000) - - Total $ 301,919 $ - $ 301,919 $ ( 301,919) $ - $ - 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) $ - $ - |
SEGMENT INFORMATION
SEGMENT INFORMATION | 12 Months Ended |
Dec. 31, 2020 | |
Segment Reporting [Abstract] | |
SEGMENT INFORMATION [Text Block] | NOTE 36 – 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 December 31, 2020, the Corporation had six The Commercial and Corporate Banking segment consists of the Corporation’s lending and other services for large customers represented by specialized and middle-market clients and the public sector. The Commercial and Corporate Banking segment offers commercial loans, including commercial real estate and construction loans, and floor plan financings, as well as other products, such as cash management and business management services. The Mortgage Banking segment consists of the origination, sale, and servicing of a variety of residential mortgage loans. The Mortgage Banking segment also acquires and sells mortgages in the secondary markets. In addition, the Mortgage Banking segment includes mortgage loans purchased from other local banks and mortgage bankers. The Consumer (Retail) Banking segment consists of the Corporation’s consumer lending and deposit-taking activities conducted mainly through its branch network and loan centers. The Treasury and Investments segment is responsible for the Corporation’s investment portfolio and treasury functions that are executed to manage and enhance liquidity. This segment lends funds to the Commercial and Corporate Banking, Mortgage Banking, Consumer (Retail) Banking and United States Operations segments to finance their lending activities and borrows from those segments. The Consumer (Retail) Banking segment also lends funds to other segments. The interest rates charged or credited by the Treasury and Investments and the Consumer (Retail) Banking segments are allocated based on market rates. The difference between the allocated interest income or expense and the Corporation’s actual net interest income from centralized management of funding costs is reported in the Treasury and Investments segment. The United States Operations segment consists of all banking activities conducted by FirstBank in the United States mainland, including commercial and consumer banking services. The Virgin Islands Operations segment consists of all banking activities conducted by the Corporation in the USVI and BVI, including commercial and consumer banking services. The accounting policies of the segments are the same as those referred to in Note 1 – “Nature of Business and Summary of Significant Accounting Policies,” 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 tables present information about the reportable segments for the indicated periods: Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Banking Treasury and Investments United States Operations Virgin Islands Operations Total (In thousands) For the year ended December 31, 2020: Interest income $ 128,043 $ 240,725 $ 155,254 $ 55,003 $ 84,169 $ 29,788 $ 692,982 Net (charge) credit for transfer of funds ( 52,018) 18,771 ( 19,663) 59,074 ( 6,164) - - Interest expense - ( 38,818) - ( 26,198) ( 23,980) ( 3,664) ( 92,660) Net interest income 76,025 220,678 135,591 87,879 54,025 26,124 600,322 Provision for credit losses ( 22,518) ( 54,094) ( 74,607) ( 2,774) ( 12,592) ( 4,400) ( 170,985) Non-interest income 22,069 50,962 12,606 13,708 4,630 7,251 111,226 Direct non-interest expenses ( 33,054) ( 131,133) ( 28,631) ( 3,449) ( 33,782) ( 28,815) ( 258,864) Segment income $ 42,522 $ 86,413 $ 44,959 $ 95,364 $ 12,281 $ 160 $ 281,699 Average earnings assets $ 2,241,753 $ 2,202,595 $ 3,039,786 $ 4,232,144 $ 2,026,619 $ 458,608 $ 14,201,505 Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Banking Treasury and Investments United States Operations Virgin Islands Operations Total (In thousands) For the year ended December 31, 2019: Interest income $ 120,981 $ 216,066 $ 148,224 $ 63,175 $ 97,406 $ 30,045 $ 675,897 Net (charge) credit for transfer of funds ( 52,178) 66,675 ( 56,958) 47,477 ( 5,016) - - Interest expense - ( 38,206) - ( 37,026) ( 29,851) ( 3,733) ( 108,816) Net interest income 68,803 244,535 91,266 73,626 62,539 26,312 567,081 (Provision) release for credit losses ( 13,499) ( 41,043) 17,977 - ( 7,296) 4,048 ( 39,813) Non-interest income (loss) 16,825 51,729 11,714 ( 225) 2,807 7,722 90,572 Direct non-interest expenses ( 34,825) ( 116,854) ( 35,130) ( 2,729) ( 34,070) ( 28,995) ( 252,603) Segment income $ 37,304 $ 138,367 $ 85,827 $ 70,672 $ 23,980 $ 9,087 $ 365,237 Average earnings assets $ 2,161,772 $ 1,960,352 $ 2,489,933 $ 2,487,084 $ 1,931,015 $ 467,252 $ 11,497,408 Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Banking Treasury and Investments United States Operations Virgin Islands Operations Total (In thousands) For the year ended December 31, 2018: Interest income $ 127,042 $ 181,166 $ 138,706 $ 61,913 $ 83,971 $ 32,169 $ 624,967 Net (charge) credit for transfer of funds ( 47,653) 65,092 ( 60,031) 44,540 ( 1,948) - - Interest expense - ( 28,325) - ( 44,825) ( 22,967) ( 3,467) ( 99,584) Net interest income 79,389 217,933 78,675 61,628 59,056 28,702 525,383 Provision for credit losses ( 13,083) ( 23,516) ( 4,540) - ( 11,882) ( 5,968) ( 58,989) Non-interest income 17,073 47,706 5,158 2,505 3,020 6,848 82,310 Direct non-interest expenses ( 38,213) ( 112,176) ( 32,635) ( 2,966) ( 33,566) ( 30,963) ( 250,519) Segment income (loss) $ 45,166 $ 129,947 $ 46,658 $ 61,167 $ 16,628 $ ( 1,381) $ 298,185 Average earnings assets $ 2,258,974 $ 1,636,002 $ 2,530,635 $ 2,552,130 $ 1,750,155 $ 537,574 $ 11,265,470 The following table presents a reconciliation of the reportable segment financial information to the consolidated totals for the indicated periods: Year Ended December 31, 2020 2019 2018 (In thousands) Net income: Total income for segments and other $ 281,699 $ 365,237 $ 298,185 Other operating expenses (1) ( 165,376) ( 125,865) ( 107,547) Income before income taxes 116,323 239,372 190,638 Income tax expense (benefit) 14,050 71,995 ( 10,970) Total consolidated net income $ 102,273 $ 167,377 $ 201,608 Average assets: Total average earning assets for segments $ 14,201,505 $ 11,497,408 $ 11,265,470 Average non-earning assets 1,031,141 954,726 940,731 Total consolidated average assets $ 15,232,646 $ 12,452,134 $ 12,206,201 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. The following table presents revenues (interest income plus non-interest income) and selected balance sheet data by geography based on the location in which the transaction was originated as of indicated dates: 2020 2019 2018 (In thousands) Revenues: Puerto Rico $ 678,370 $ 628,489 $ 581,269 United States 88,799 100,213 86,991 Virgin Islands 37,039 37,767 39,017 Total consolidated revenues $ 804,208 $ 766,469 $ 707,277 Selected Balance Sheet Information: Total assets: Puerto Rico $ 16,091,112 $ 10,059,890 $ 9,797,267 United States 2,117,966 2,048,260 1,940,633 Virgin Islands 583,993 503,116 505,661 Loans: Puerto Rico $ 9,367,032 $ 6,695,953 $ 6,586,033 United States 1,993,797 1,879,346 1,834,088 Virgin Islands 466,749 466,383 481,188 Deposits: Puerto Rico (1) $ 12,338,934 $ 6,422,864 $ 6,208,531 United States (2) 1,622,481 1,661,657 1,519,362 Virgin Islands 1,355,968 1,263,908 1,266,821 For 2020, 2019, and 2018, includes $ 109.0 million, $ 243.4 million, and $ 441.1 million, respectively, of brokered CDs allocated to Puerto Rico operations. For 2020, 2019, and 2018 includes $ 107.1 million, $ 191.7 million, and $ 114.5 million, respectively, of brokered CDs allocated to the United States operations. |
FIRST BANCORP. (Holding Company
FIRST BANCORP. (Holding Company Only) Financial Information | 12 Months Ended |
Dec. 31, 2020 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
FIRST BANCORP. (Holding Company Only) Financial Information [Text Block] | NOTE 37- 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 December 31, 2020 and 2019, and the results of its operations and cash flows for the years ended December 31, 2020, 2019, and 2018: Statements of Financial Condition As of December 31, 2020 2019 (In thousands) Assets Cash and due from banks $ 10,909 $ 16,895 Money market investments 6,211 6,211 Other investment securities 285 285 Investment in First Bank Puerto Rico, at equity 2,396,963 2,362,182 Investment in First Bank Insurance Agency, at equity 41,313 24,995 Investment in FBP Statutory Trust I 1,951 1,963 Investment in FBP Statutory Trust II 3,561 3,561 Other assets 2,023 509 Total assets $ 2,463,216 $ 2,416,601 Liabilities and Stockholders' Equity Liabilities: Other borrowings $ 183,762 $ 184,150 Accounts payable and other liabilities 4,275 4,378 Total liabilities 188,037 188,528 Stockholders' equity 2,275,179 2,228,073 Total liabilities and stockholders' equity $ 2,463,216 $ 2,416,601 Statements of Income Year Ended December 31, 2020 2019 2018 (In thousands) Income Interest income on money market investments $ 71 $ 233 $ 20 Interest income on loans - - 105 Dividend income from banking subsidiaries 52,707 42,243 37,784 Other income 439 283 275 53,217 42,759 38,184 Expense Other borrowings 6,355 9,424 8,983 Other operating expenses 2,097 2,131 2,489 8,452 11,555 11,472 Gain on early extinguishment of debt 94 - 2,316 Income before income taxes and equity in undistributed earnings of subsidiaries 44,859 31,204 29,028 Income tax expense 2,429 2,752 - Equity in undistributed earnings of subsidiaries 59,843 138,925 172,580 Net income $ 102,273 $ 167,377 $ 201,608 Other comprehensive income (loss), net of tax 48,691 47,179 ( 19,806) Comprehensive income $ 150,964 $ 214,556 $ 181,802 Statements of Cash Flows Year Ended December 31, 2020 2019 2018 (In thousands) Cash flows from operating activities: Net income $ 102,273 $ 167,377 $ 201,608 Adjustments to reconcile net income to net cash provided by operating activities: Stock-based compensation 231 314 2,202 Equity in undistributed earnings of subsidiaries ( 59,843) ( 138,925) ( 172,580) Gain on early extinguishment of debt ( 94) - ( 2,316) Accretion of discount on loans - - ( 4) Net (increase) decrease in other assets ( 1,514) 11,710 ( 8,417) Net (decrease) increase in other liabilities ( 459) 526 2,890 Net cash provided by operating activities 40,594 41,002 23,383 Cash flows from investing activities: Principal collected on loans - - 191 Net cash provided by investing activities - - 191 Cash flows from financing activities: Repurchase of common stock ( 206) ( 1,959) ( 2,827) Repayment of junior subordinated debentures ( 282) - ( 21,434) Dividends paid on common stock ( 43,416) ( 30,356) ( 6,517) Dividends paid on preferred stock ( 2,676) ( 2,676) ( 2,676) Net cash used in financing activities ( 46,580) ( 34,991) ( 33,454) Net (decrease) increase in cash and cash equivalents ( 5,986) 6,011 ( 9,880) Cash and cash equivalents at beginning of the year 23,106 17,095 26,975 Cash and cash equivalents at end of year $ 17,120 $ 23,106 $ 17,095 Cash and cash equivalents include: Cash and due from banks $ 10,909 $ 16,895 $ 10,984 Money market instruments 6,211 6,211 6,111 $ 17,120 $ 23,106 $ 17,095 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Dec. 31, 2020 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS [Text Block] | NOTE 38 – SUBSEQUENT EVENTS The Corporation has performed an evaluation of all events occurring subsequent to December 31, 2020; management has determined that there were no events occurring in this period that require disclosure in or adjustment to the accompanying financial statements. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Nature of Business [Policy Text Block] | FirstBank conducts its business through its main office located in San Juan, Puerto Rico, 73 banking branches in Puerto Rico, 11 banking branches in the USVI and the BVI, and 10 banking branches in the state of Florida (USA). FirstBank has 5 wholly owned subsidiaries with operations in Puerto Rico: First Federal Finance Corp. (d/b/a Money Express La Financiera), a finance company specializing in the origination of small loans with 28 offices in Puerto Rico; First Management of Puerto Rico, a Puerto Rico corporation, which holds tax-exempt assets; FirstBank Overseas Corporation, an international banking entity (an “IBE”) organized under the International Banking Entity Act of Puerto Rico; and two other dormant companies formerly engaged in the operation of certain OREO properties. In connection with the BSPR acquisition in 2020, FirstBank acquired a trust business that administers and is custodian of assets amounting to approximately $ 69.3 million as of December 31, 2020. Due to the nature of trust activities, these assets are not included in the Corporation’s consolidated statements of financial condition. The Corporation’s trust division focuses its business on transfer paying agent and individual retirement account (“IRA”) services. |
Principles of consolidation [Policy Text Block] | Principles of consolidation The consolidated financial statements include the accounts of the Corporation and its subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. Statutory business trusts that are wholly-owned by the Corporation and are issuers of trust-preferred securities (“TRuPs”), and entities in which the Corporation has a non-controlling interest, are not consolidated in the Corporation’s consolidated financial statements in accordance with authoritative guidance issued by the FASB for consolidation of variable interest entities (“VIE”). See “Variable Interest Entities” below for further details regarding the Corporation’s accounting policy for these entities |
Reclassifications [Policy Text Block] | Reclassifications In connection with the adoption of ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” (“ASC 326”), the provision for unfunded loan commitments, which was previously presented as part of other non-interest expense, was reclassified and is now presented separately as a component of the provision for credit losses in the consolidated statements of income. For purposes of comparability, amounts prior to 2020 have been reclassified to conform to the current presentation. |
Use of estimates in the preparation of financial statements [Policy Text Block] | Use of estimates in the preparation of financial statements The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and contingent liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Cash and cash equivalents [Policy Text Block] | Cash and cash equivalents For purposes of reporting cash flows, cash and cash equivalents include cash on hand, cash items in transit, and amounts due from the Federal Reserve Bank of New York (the “Federal Reserve”) and other depository institutions. The term also includes money market funds and short-term investments with original maturities of three months or less. |
Investment securities [Policy Text Block] | Investment securities The Corporation classifies its investments in debt and equity securities into one of four categories: Held-to-maturity — Debt s ecurities 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 December 31, 2020, and 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 the Corporation owns 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 mortgage-backed securities (“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 payment becomes 90 days delinquent. Interest accrued but not received for a security placed on non-accrual is reversed against interest income. No debt security was in a nonaccrual status as of December 31, 2020 and 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 December 31, 2020, the held-to-maturity securities portfolio consisted of Puerto Rico municipal bonds totaling $ 189.5 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 Securities and Exchange Commission (“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 $ 3.6 million as of December 31, 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 ($ 8.8 million as of December 31, 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, or 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 (a “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 year ended December 31, 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 earnings. 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 December 31, 2020 amounted to $ 1.3 million. Available-for-sale debt securities held by the Corporation at year-end primarily consisted of securities issued by U.S. government-sponsored entities (“GSEs”), private label MBS, and a bond 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. For the year ended December 31, 2020, the Corporation’s credit loss-impairment assessment was concentrated on private label MBS and the PRHFA debt security. 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 30 – Fair Value, to the consolidated financial statements. Accrued interest receivable on available-for-sale debt securities totaled $ 8.5 million as of December 31, 2020 ($ 5.5 million as of December 31, 2019) and is excluded from the estimate of credit losses. |
Loans held for investment [Policy Text Block] | 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 $ 57.2 million as of December 31, 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 insured or 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 $ 1.9 million for the year ended December 31, 2020. Interest income on nonaccrual loans is recognized only to the extent it is received in cash. However, when there is doubt regarding the ultimate collectability of loan principal, all cash thereafter received is applied to reduce the carrying value of such loans ( 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 or more monthly payments. 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 interest method. Additionally, upon the purchase or acquisition of non-PCD loans, the Corporation measures and records an ACL based on the Corporation’s methodology for determining the ACL. The ACL for non-PCD loans is recorded through a charge to the provision for credit losses in the period in which the loans are purchased or acquired. Acquired loans that are classified as PCD are recognized at fair value, which includes any resulting premiums or discounts. Premiums and non-credit loss related discounts are amortized or accreted into interest income over the remaining life of the loan using the interest method. Unlike non-PCD loans, the initial ACL for PCD loans is established through an adjustment to the acquired loan balance and not through a charge to the provision for credit losses in the period in which the loans were acquired. At acquisition, the ACL for PCD loans, which represents the fair value credit discount, is determined using a discounted cash flow method that considers the PDs and LGDs used in the Corporation’s ACL methodology. Characteristics of PCD loans include: delinquency, payment history since origination, credit scores migration and/or other factors the Corporation may become aware of through its initial analysis of acquired loans that may indicate there has been more than insignificant deterioration in credit quality since a loan’s origination. In connection with the BSPR acquisition on September 1, 2020, the Corporation acquired PCD loans with an aggregate fair value at acquisition of approximately $ 752.8 million, and recorded an initial ACL of approximately $ 28.7 million, which was added to the amortized cost of the loans. Subsequent to acquisition, the ACL for both non-PCD and PCD loans is determined pursuant to the Corporation’s ACL methodology in the same manner as all other loans. For PCD loans that prior to the adoption of ASC 326 were classified as purchased credit impaired (“PCI”) loans and accounted for under the FASB’s Accounting Standards Codification (the “Codification” or “ASC”) Subtopic 310-30, “Accounting for Purchased Loans Acquired with Deteriorated Credit Quality” (ASC Subtopic 310-30), the Corporation adopted ASC 326 using the prospective transition approach. As allowed by ASC 326, the Corporation elected to maintain pools of loans accounted for under ASC Subtopic 310-30 as “units of accounts,” conceptually treating each pool as a single asset. As of December 31, 2020, such PCD loans consisted of $ 128.4 million of residential mortgage loans and $ 2.5 million of commercial mortgage loans acquired by the Corporation as part of previously completed asset acquisitions. These previous transactions include a transaction completed on February 27, 2015, in which FirstBank acquired 10 Puerto Rico branches of Doral Bank, acquired certain assets, including PCD loans, and assumed deposits, through an alliance with Banco Popular of Puerto Rico, which was the successful lead bidder with the FDIC on the failed Doral Bank, as well as other co-bidders, and the acquisition from Doral Financial in the first quarter of 2014 of all of its rights, title and interest in first and second residential mortgage loans in full satisfaction of secured borrowings owed by such entity to FirstBank. As the Corporation elected to maintain pools of units of account for loans previously accounted for under ASC Subtopic 310-30, the Corporation is not able to remove loans from the pools until they are paid off, written off or sold (consistent with the Corporation’s practice prior to adoption of ASC 326), but is required to follow ASC 326 for purposes of the ACL. Regarding interest income recognition for PCD loans that existed at the time of adoption of ASC 326, the prospective transition approach for PCD loans required by ASC 326 was applied at a pool level, which froze the effective interest rate of the pools as of January 1, 2020. According to regulatory guidance, the determination of nonaccrual or accrual status for PCD loans that the Corporation has elected to maintain in previously existing pools pursuant to the policy election right upon adoption of ASC 326 should be made at the pool level, not the individual asset level. In addition, the guidance provides that the Corporation can continue accruing interest and not report the PCD loans as being in nonaccrual status if the following criteria are met: (i) the Corporation can reasonably estimate the timing and amounts of cash flows expected to be collected, and (ii) the Corporation did not acquire the asset primarily for the rewards of ownership of the underlying collateral, such as use of the collateral in operations or improving the collateral for resale. Thus, the Corporation continues to exclude these pools of PCD loans from nonaccrual loan statistics. In accordance with ASC 326, the Corporation did not reassess whether modifications to individual acquired loans accounted for within pools were TDR as of the date of adoption. Charge-off of Uncollectible Loans - Net charge-offs consist of the unpaid principal balances of loans held for investment that the Corporation determines are uncollectible, net of recovered amounts. The Corporation records charge-offs as a reduction to the ACL and subsequent recoveries of previously charged-off amounts are credited to the ACL. Collateral dependent loans in the construction, commercial mortgage, and commercial and industrial loan portfolios are charged off to their net realizable value (fair value of collateral, less estimated costs to sell) when loans are considered to be uncollectible. Within the consumer loan portfolio, auto loans and finance leases are reserved once they are 120 days delinquent and are charged off to their estimated net realizable value when the collateral deficiency is deemed uncollectible ( i.e. , when foreclosure/repossession is probable) or when the loan is 365 days past due. In addition, the Corporation’s other closed-end consumer loans are charged off when payments are 120 days in arrears, except small personal loans. Open-end (revolving credit) consumer loans, including credit card loans, and small personal loans are charged off when payments are 180 days in arrears. Residential mortgage loans that are 180 days delinquent are reviewed and charged-off, as needed, to the fair value of the underlying collateral less cost to sell. Generally, all loans may be charged off or written down to the fair value of the collateral prior to the application of the policies described above if a loss-confirming event has occurred. Loss-confirming events include, but are not limited to, bankruptcy (unsecured), continued delinquency, or receipt of an asset valuation indicating a collateral deficiency when the asset is the sole source of repayment. Collateral dependent loans - The Corporation elected the practical expedient allowed by ASC 326 for loans for which it expects repayment to be provided substantially through the operation or sale of the collateral when the borrower is experiencing financial difficulties based on the Corporation’s assessment as of the reporting date. Accordingly, when the Corporation determines that foreclosure is probable, expected credit losses on collateral dependent loans are based on the fair value of the collateral at the reporting date, adjusted for undiscounted selling costs as appropriate. |
Nonaccrual and Past Due Loans [Policy Text Block] | 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 insured or 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 $ 1.9 million for the year ended December 31, 2020. Interest income on nonaccrual loans is recognized only to the extent it is received in cash. However, when there is doubt regarding the ultimate collectability of loan principal, all cash thereafter received is applied to reduce the carrying value of such loans ( 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 or more monthly payments. Charge-off of Uncollectible Loans - Net charge-offs consist of the unpaid principal balances of loans held for investment that the Corporation determines are uncollectible, net of recovered amounts. The Corporation records charge-offs as a reduction to the ACL and subsequent recoveries of previously charged-off amounts are credited to the ACL. Collateral dependent loans in the construction, commercial mortgage, and commercial and industrial loan portfolios are charged off to their net realizable value (fair value of collateral, less estimated costs to sell) when loans are considered to be uncollectible. Within the consumer loan portfolio, auto loans and finance leases are reserved once they are 120 days delinquent and are charged off to their estimated net realizable value when the collateral deficiency is deemed uncollectible ( i.e. , when foreclosure/repossession is probable) or when the loan is 365 days past due. In addition, the Corporation’s other closed-end consumer loans are charged off when payments are 120 days in arrears, except small personal loans. Open-end (revolving credit) consumer loans, including credit card loans, and small personal loans are charged off when payments are 180 days in arrears. Residential mortgage loans that are 180 days delinquent are reviewed and charged-off, as needed, to the fair value of the underlying collateral less cost to sell. Generally, all loans may be charged off or written down to the fair value of the collateral prior to the application of the policies described above if a loss-confirming event has occurred. Loss-confirming events include, but are not limited to, bankruptcy (unsecured), continued delinquency, or receipt of an asset valuation indicating a collateral deficiency when the asset is the sole source of repayment. |
TDR loans [Policy Text Block] | Troubled Debt Restructurings - A restructuring of a loan constitutes a TDR if the creditor, for economic or legal reasons related to the debtor’s financial difficulties, grants a concession to the debtor that it would not otherwise consider. TDR loans are classified as either accrual or nonaccrual loans. Loans in accrual status may remain in accrual status when their contractual terms have been modified in a TDR if the loans had demonstrated performance prior to the restructuring and payment in full under the restructured terms is expected. Otherwise, loans on nonaccrual status and restructured as TDRs will remain on nonaccrual status until the borrower has proven the ability to perform under the modified structure, generally for a minimum of six The Corporation removes loans from TDR classification, consistent with applicable authoritative accounting guidance, only when the following two circumstances are met: The loan is in compliance with the terms of the restructuring agreement; and The loan yields a market interest rate at the time of the restructuring. In other words, the loan was restructured with an interest rate equal to or greater than what the Corporation would have been willing to accept at the time of the restructuring for a new loan with comparable risk. If both of the conditions are met, the loan can be removed from the TDR classification in calendar years after the year in which the restructuring took place. A loan that had previously been modified in a TDR and is subsequently refinanced under then-current underwriting standards at a market rate with no concessionary terms is accounted for as a new loan and is no longer reported as a TDR. The ACL on a TDR loan is generally measured using a discounted cash flow method, as further explained below, where the expected future cash flows are discounted at the rate of the loan prior to the restructuring. For credit cards, personal loans, and nonaccrual auto loans and finance leases modified in a TDR, the ACL is measured using the same methodologies as those used for all other loans in those portfolios. The CARES Act of 2020 permits financial institutions to suspend requirements under GAAP for loan modifications to borrowers affected by COVID-19 that would otherwise be characterized as TDRs and to suspend any determination related thereto if (i) the loan modification is made between March 1, 2020 and the earlier of January 1, 2022 or 60 days after the end of the coronavirus emergency declaration and (ii) the applicable loan was not more than 30 days past due as of December 31, 2019. The Corporation has elected to apply this guidance to qualifying loan modifications. As of December 31, 2020, the Corporation’s loan portfolio included 24 commercial loans totaling $ 244.3 million, or 2% of loans held for investment, that were permanently modified under the provision of Section 4013 of the CARES Act of 2020. |
Allowance for loan and lease losses [Policy Text Block] | Allowance for credit losses for loans and finance leases The ACL for loans and finance leases held for investment is a valuation account that is deducted from the loans’ amortized cost basis to present the net amount expected to be collected on loans. Loans are charged-off against the allowance when management confirms the uncollectibility of a loan balance. Expected recoveries do not exceed the aggregate of amounts previously charged-off. The Corporation estimates the allowance using relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Historical credit loss experience is a significant input for the estimation of expected credit losses, as well as adjustments to historical loss information made for differences in current loan-specific risk characteristics, such as any difference in underwriting standards, portfolio mix, delinquency level, or term. Additionally, the Corporation’s assessment involves evaluating key factors, which include credit and macroeconomic indicators, such as changes in unemployment rates, property values, and other relevant factors, to account for current and forecasted market conditions that are likely to cause estimated credit losses over the life of the loans to differ from historical credit losses. Expected credit losses are estimated over the contractual term of the loans, adjusted by prepayments when appropriate. The contractual term excludes expected extensions, renewals, and modifications unless either of the following applies: the Corporation has a reasonable expectation at the reporting date that a TDR will be executed with an individual borrower or the extension or renewal options are included in the original or modified contract at the reporting date and are not unconditionally cancellable by the Corporation. The Corporation estimates the ACL primarily based on a PD/LGD modeled approach, or individually for collateral dependent loans and certain TDR loans. The Corporation evaluates the need for changes to the ACL by portfolio segments and classes of loans within certain of those portfolio segments. Factors such as the credit risk inherent in a portfolio and how the Corporation monitors the related quality, as well as the estimation approach to estimate credit losses, are considered in the determination of such portfolio segments and classes. The Corporation has identified the following portfolio segments and measures the ACL using the following methods: Residential mortgage – Residential mortgage loans are loans secured by residential real property together with the right to receive the payment of principal and interest on the loan. The majority of the Corporation’s residential loans are first lien closed-end loans secured by 1-4 single-family residential properties. As of December 31, 2020, the Corporation’s outstanding balance of residential mortgages in the Puerto Rico and Virgin Islands regions were fixed-rate loans, while in the Florida region approximately 56% of the residential mortgage loan portfolio consisted of hybrid adjustable rate mortgages. For purposes of the ACL determination, the Corporation stratifies the portfolio by two main regions ( i.e., the Puerto Rico/Virgin Islands region and the Florida region) and by the following two classes: (i) government-guaranteed residential mortgage loans, and (ii) conventional mortgage loans. Government-guaranteed loans are those originated to qualified borrowers under the FHA and the VA standards. Originated loans that meet the FHA’s standards qualify for the FHA’s insurance program whereas loans that meet the standards of the VA are guaranteed by such entity. No credit losses are determined for loans insured or guaranteed by the FHA or the VA due to the explicit guarantee of the U.S. federal government. Residential mortgage loans that do not qualify under the FHA or VA programs are referred to as conventional residential mortgage loans. For conventional residential mortgage loans, the Corporation calculates the ACL using a PD/LGD modeled approach, or individually for collateral dependent loans with high delinquency levels or loans that have been modified or are reasonably expected to be modified in a TDR. The ACL for residential mortgage loans measured using a PD/LGD model is calculated based on the product of PD, LGD, and the amortized cost basis determined for each loan over the remaining expected life of the loan, considering prepayments. PD estimates represent the point-in-time as of which the PD is developed for each residential mortgage loan, updated quarterly based on, among other things, historical payment performance and relevant current and forward-looking macroeconomic variables, such as regional unemployment rates, over the expected life of the loans to determine a lifetime term structure PD curve. The Corporation determines LGD estimates based on, among other things, historical charge-off events and recovery payments, loan-to-value attributes, and relevant current and forecasted macroeconomic variables, such as the regional housing price index, to determine a lifetime term structure LGD curve. Under this approach, the Corporation calculates losses for each loan for all future periods using the PD and LGD loss rates derived from the term structure curves applied to the amortized cost basis of the loans, considering prepayments. For loans that have been modified or are reasonably expected to be modified in a TDR and loans previously-charged off to their respective realizable values, the Corporation determines the ACL based on a risk-adjusted discounted cash flow methodology using PDs and LGDs developed as explained above. Under this approach, all future cash flows (interest and principal) for each loan are adjusted by the PDs and LGDs derived from the term structure curves and prepayments and then discounted at the effective interest rate as of the reporting date (or original rate for TDRs) to arrive at the net present value of future cash flows. For these loans, the estimated credit loss amount recorded in a period represents the excess of the carrying amount of the loan, net of any charge-off, over the net present value of cash flows resulting from the model. Residential mortgage loans that are 180 days or more past due are considered collateral dependent loans and are individually reviewed and charged-off, as needed, to the fair value of the collateral less cost to sell. Commercial mortgage – Commercial mortgage loans are loans secured primarily by commercial real estate properties for which the primary source of repayment comes from rent and lease payments that are generated by an income-producing property. For purposes of the ACL determination, the Corporation stratifies the portfolio by two main regions ( i.e., the Puerto Rico/Virgin Islands region and the Florida region). An internal risk rating ( i.e., pass, special mention, substandard, doubtful, or loss) is assigned to each loan at the time of origination and monitored on a continuous basis with a formal assessment completed quarterly, at a minimum. For commercial mortgage loans, the Corporation calculates the ACL using a PD/LGD modeled approach, or individually for those loans that meet the definition of collateral dependent loans or loans that have been modified or are reasonably expected to be modified in a TDR. The ACL for commercial mortgage loans measured using a PD/LGD model is calculated based on the product of a cumulative PD and LGD, and the amortized cost basis determined for each loan over the remaining expected life of the loan, considering prepayments. PD estimates represent the point-in-time as of which the PD is developed for each commercial mortgage loan, updated quarterly based on, among other things, the payment performance experience, industry historical loss experience, property type, occupancy, and relevant current and forward-looking macroeconomic variables over the expected life of the loans to determine a lifetime term structure PD curve. The Corporation determines LGD estimates based on historical charge-off events and recovery payments, industry historical loss experience, specific attributes of the loans, such as loan-to-value, debt service coverage ratios, and net operating income, as well as relevant current and forecasted macroeconomic variables expectations, such as commercial real estate price indexes, the gross domestic product (“GDP”), interest rates, and unemployment rates, among others, to determine a lifetime term structure LGD curve. Under this approach, the Corporation calculates losses for each loan for all future periods using the PD and LGD loss rates derived from the term structure curves applied to the amortized cost basis of the loans, considering prepayments. The ACL for collateral dependent loans, including loans modified or reasonably expected to be modified in a TDR, is determined based on the fair value of the collateral at the reporting date, adjusted for undiscounted selling costs as appropriate. Commercial and Industrial – Commercial and Industrial (“C&I”) loans include both unsecured and secured loans for which the primary source of repayment comes from the ongoing operations and activities conducted by the borrower and not from rental income or the sale or refinancing of any underlying real estate collateral; thus, credit risk is largely dependent on the commercial borrower’s current and expected financial condition. As of December 31, 2020, the C&I loan portfolio consisted of loans granted to large corporate customers as well as middle-market customers across several industries, and the government sector. For purposes of the ACL determination, the Corporation stratifies the C&I loan portfolio by two main regions ( i.e., the Puerto Rico/Virgin Islands region and the Florida region). An internal risk rating ( i.e., pass, special mention, substandard, doubtful, or loss) is assigned to each loan at the time of origination and monitored on a continuous basis with a formal assessment completed quarterly, at a minimum. For C&I loans, the Corporation calculates the ACL using a PD/LGD modeled approach, or, in some cases, based on a risk-adjusted discounted cash flow method or the fair value of the collateral. The ACL for C&I loans measured using a PD/LGD model is calculated based on the product of a cumulative PD and LGD, and the amortized cost basis determined for each loan over the remaining expected life of the loan, considering prepayments. PD estimates represent the point-in-time as of which the PD is developed for each C&I loan, updated quarterly based on industry historical loss experience, financial performance and market value indicators, and current and forecasted relevant forward-looking macroeconomic variables over the expected life of the loans to determine a lifetime term structure PD curve. The Corporation determines LGD estimates based on historical charge-off events and recovery payments, industry historical loss experience, specific attributes of the loans, such as loan to value, as well as relevant current and forecasted expectations for macroeconomic variables, such as, unemployment rates, interest rates, and market risk factors based on industry performance and the equity market, to determine a lifetime term structure LGD curve. Under this approach, the Corporation calculates losses for each loan for all future periods using the PD and LGD loss rates derived from the term structure curves applied to the amortized cost basis of the loans, considering prepayments. The Corporation determines the ACL for those C&I loans that it has determined, based upon current information and events, that it is probable that the Corporation will be unable to collect all amounts due according to the contractual terms, and for any non-collateral dependent C&I loans that have been modified or are reasonably expected to be modified in a TDR, based on a risk-adjusted discounted cash flow methodology using PDs and LGDs developed as explained above. Under this approach, the Corporation adjusts all future cash flows (interest and principal) for each loan by the PDs and LGDs derived from the term structure curves and prepayments and then discount the adjusted cash flows at the effective interest rate as of the reporting date (original rate for TDRs) to arrive at the net present value of future cash flows and the ACL is calculated as the excess of the amortized cost basis over the net present value of future cash flows. The ACL for collateral dependent C&I loans is determined based on the fair value of the collateral at the reporting date, adjusted for undiscounted selling costs as appropriate. Construction – As of December 31, 2020, construction loans consisted generally of loans secured by real estate made to finance the construction of industrial, commercial, or residential buildings and included loans to finance land development in preparation for erecting new structures. These loans involve an inherently higher level of risk and sensitivity to market conditions. Demand from prospective tenants or purchasers may erode after construction begins because of a general economic slowdown or otherwise. For purposes of the ACL determination, the Corporation stratifies the construction loan portfolio by two main regions ( i.e., the Puerto Rico/Virgin Island region and the Florida region). An internal risk rating ( i.e., pass, special mention, substandard, doubtful, or loss) is assigned to each loan at the time of origination and monitored on a continuous basis with a formal assessment completed, at a minimum, on a quarterly basis. For construction loans, the Corporation calculates the ACL using a PD/LGD modeled approach, or individually for those loans that meet the definition of collateral dependent loans or loans that have been modified or are reasonably expected to be modified in a TDR. The ACL for construction loans measured using a PD/LGD model is calculated based on the product of a cumulative PD and LGD, and the amortized cost basis determined for each loan over the remaining expected life of the loan, considering prepayments. PD estimates represent the point-in-time as of which the PD is developed for each construction loan, updated quarterly based on, among other things, historical payment performance experience, industry historical loss experience, underlying type of collateral, and relevant current and forward-looking macroeconomic variables over the remaining expected life of the loans to determine a lifetime term structure PD curve. The Corporation determines LGD estimates based on historical charge-off events and recovery payments, industry historical loss experience, specific attributes of the loans, such as loan-to-value, debt service coverage ratios, and relevant current and forecasted macroeconomic variables, such as unemployment rates, GDP, interest rates, and real estate price indexes, to determine a lifetime term structure LGD curve. Under this approach, the Corporation calculates losses for each loan for all future periods using the PD and LGD loss rates derived from the term structure curves applied to the amortized cost basis of the loans, considering prepayments. The ACL for collateral dependent loans, including loans modified or reasonably expected to be modified in a TDR, is determined based on the fair value of the collateral at the reporting date, adjusted for undiscounted selling costs as appropriate. Consumer – As of December 31, 2020, consumer loans generally consisted of unsecured and secured loans extended to individuals for household, family, and other personal expenditures, including several classes of products. For purposes of the ACL determination, the Corporation stratifies the portfolio by two main regions ( i.e., the Puerto Rico/Virgin Islands region and the Florida region) and by the following five classes: (i) auto loans; (ii) finance leases; (iii) credit cards; (iv) personal loans; and (v) other consumer loans, such as open-end home equity revolving lines of credit and other types of consumer credit lines, among others. For auto loans and finance leases, the Corporation calculates the ACL using a PD/LGD modeled approach, or individually for loans modified or reasonably expected to be modified in a TDR and performing in accordance with restructured terms. The ACL for auto loans and finance leases measured using a PD/LGD model is calculated based on the product of a PD, LGD, and the amortized cost basis determined for each loan over the remaining expected life of the loan, considering prepayments. PD estimates represent the point-in-time as of which the PD is developed for each loan, updated quarterly based on, among other things, the historical payment performance and relevant current and forward-looking macroeconomic variables, such as regional unemployment rates, over the expected life of the loans to determine a lifetime term structure PD curve. The Corporation determines LGD estimates primarily based on historical charge-off events and recovery payments to determine a lifetime term structure LGD curve. Under this approach, the Corporation calculates losses for each loan for all future periods using the PD and LGD loss rates derived from the term structure curves applied to the amortized cost basis of the loans, considering prepayments. For loans modified or reasonably expected to be modified in a TDR and performing in accordance with restructured terms, the Corporation determines the ACL based on a risk-adjusted discounted cash flow methodology using PDs and LGDs developed as explained above. Under this approach, all future cash flows (interest and principal) for each loan are adjusted by the PDs and LGDs derived from the term structure curves and prepayments and then discounted at the effective interest rate of the loan prior to the restructuring to arrive at the net present value of future cash flows and the ACL is calculated as the excess of the amortized cost basis over the net present value of future cash flows for each loan. For the credit card and personal loan portfolios, the Corporation determines the ACL on a pool basis based on a product of PDs and LGDs developed considering historical losses for each origination vintage by length of loan terms, by geography, and by credit score. The PD and LGD for each cohort consider key macroeconomic variables, such as regional GDP, unemployment rates, and retail sales, among others. Under this approach, all future period losses for each instrument are calculated using the PDs and LGDs applied to the amortized cost basis of the loans, considering prepayments. In addition, home equity lines of credit that are 180 days or more past due are considered collateral dependent and are individually reviewed and charged-off, as needed, to the fair value of the collateral. For the ACL determination of all portfolios, the expectations for relevant macroeconomic variables related to the Puerto Rico/Virgin Islands region consider an initial 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. For the Florida region, the methodology considers a reasonable and supportable forecast period and an implicit reversion towards the historical trend that varies for each macroeconomic variable, achieving the steady state by year 5. After the reversion period, a historical loss forecast period covering the remaining contractual life, adjusted for prepayments, is used based on the changes in key historical economic variables during representative historical expansionary and recessionary periods. Refer to Note 9 – Allowance for Credit Losses for Loans and Finance Leases, to the consolidated financial statements for additional information about reserve balances for each portfolio, activity during the period, and information about changes in circumstances that caused changes in the ACL for loans and finance leases during the year ended December 31, 2020. |
Allowance For Credit Losses On Off Balance Sheet Credit Exposures And Other Assets [Policy Text Block] | Allowance for Credit Losses on Off-Balance Sheet Credit Exposures and Other Assets 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, unless the obligation is unconditionally cancellable by the Corporation. The ACL on off-balance sheet credit exposures is adjusted as a provision for credit loss expense. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated life. As of December 31, 2020, the off-balance sheet credit exposures primarily consisted of unfunded loan commitments and standby letters of credit for commercial and construction loans. The Corporation utilized the PDs and LGDs derived from the above-explained methodologies for the commercial and construction loan portfolios. Under this approach, all future period losses for each loan are calculated using the PD and LGD loss rates derived from the term structure curves applied to the usage given default exposure. The ACL on off-balance sheet credit exposures is included as part of accounts payable and other liabilities in the consolidated statement of financial condition with adjustments included as part of the provision for credit loss expense in the consolidated statements of income. Refer to Note 9 – Allowance for Credit Losses for Loans and Finance Leases, to the consolidated financial statements for additional information about reserve balances for unfunded loan commitments, activity during the period, and information about changes in circumstances that caused changes in the ACL for off-balance sheet credit exposures during the year ended December 31, 2020. The Corporation also estimates expected credit losses for certain accounts receivable, primarily claims from government-guaranteed loans, loan servicing-related receivables, and other receivables. The ACL on other assets measured at amortized cost is included as part of other assets in the consolidated statement of financial condition with adjustments included as part of other non-interest expenses in the consolidated statements of income. |
Loans held for sale [Policy Text Block] | Loans held for sale Loans that the Corporation intends to sell or that the Corporation does not have the ability and intent to hold for the foreseeable future are classified as held-for-sale loans. Loans held for sale are recorded at the lower of aggregate cost or fair value. Generally, the loans held-for-sale portfolio consists of conforming residential mortgage loans that the Corporation intends to sell to the Government National Mortgage Association (“GNMA”) and GSEs, such as the Federal National Mortgage Association (“FNMA”) and the U.S. Federal Home Loan Mortgage Corporation (“FHLMC”). Generally, residential mortgage loans held for sale are valued on an aggregate portfolio basis and the value is primarily derived from quotations based on the MBS market. The amount by which cost exceeds market value in the aggregate portfolio of loans held for sale, if any, is accounted for as a valuation allowance with changes therein included in the determination of net income and reported as part of mortgage banking activities in the consolidated statements of income. Loan costs and fees are deferred at origination and are recognized in income at the time of sale. The fair value of commercial and construction loans held for sale, if any, is primarily derived from external appraisals, or broker price opinions that the Corporation considers, with changes in the valuation allowance reported as part of other non-interest income in the consolidated statements of income. In certain circumstances, the Corporation transfers loans from/to held for sale or held for investment based on a change in strategy. If such a change in holding strategy is made, significant adjustments to the loans’ carrying values may be necessary. Reclassifications of loans held for investment to held for sale are made at the amortized cost on the date of transfer and establish a new cost basis upon transfer. Write-downs of loans transferred from held for investment to held for sale are recorded as charge-offs at the time of transfer. Subsequent changes in value below amortized cost are reflected in non-interest income in the consolidated statements of income. Reclassifications of loans held for sale to held for investment are made at the amortized cost on the transfer date. |
Transfers and servicing of financial assets and extinguishment of liabilities [Policy Text Block] | Transfers and servicing of financial assets and extinguishment of liabilities After a transfer of financial assets in a transaction that qualifies for accounting as a sale, the Corporation derecognizes the financial assets when it has surrendered control, and derecognizes liabilities when they are extinguished. A transfer of financial assets in which the Corporation surrenders control over the assets is accounted for as a sale to the extent that consideration other than beneficial interests is received in exchange. The criteria that must be met to determine that the control over transferred assets has been surrendered include: (1) the assets must be isolated from creditors of the transferor; (2) the transferee must obtain the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets; and (3) the transferor cannot maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. When the Corporation transfers financial assets and the transfer fails any one of the above criteria, the Corporation is prevented from derecognizing the transferred financial assets and the transaction is accounted for as a secured borrowing. |
Servicing Assets [Policy Text Block] | Servicing assets The Corporation recognizes as separate assets the rights to service loans for others, whether those servicing assets are originated or purchased. In the ordinary course of business, the Corporation sells residential mortgage loans (originated or purchased) to GNMA, which generally securitizes the transferred loans into MBS for sale into the secondary market. Also, certain conventional conforming loans are sold to FNMA or FHLMC, with servicing retained. When the Corporation sells mortgage loans, it recognizes any retained servicing right, based on its fair value. Mortgage servicing rights (“servicing assets” or “MSRs”) retained in a sale or securitization arise from contractual agreements between the Corporation and investors in mortgage securities and mortgage loans. The value of MSRs is derived from the net positive cash flows associated with the servicing contracts. Under these contracts, the Corporation performs loan-servicing functions in exchange for fees and other remuneration. The servicing functions typically include: collecting and remitting loan payments, responding to borrower inquiries, accounting for principal and interest, holding custodial funds for payment of property taxes and insurance premiums, supervising foreclosures and property dispositions, and generally administering the loans. The MSRs, included as part of other assets in the statements of financial condition, entitle the Corporation to servicing fees based on the outstanding principal balance of the mortgage loans and the contractual servicing rate. The servicing fees are credited to income on a monthly basis when collected and recorded as part of mortgage banking activities in the consolidated statements of income. In addition, the Corporation generally receives other remuneration consisting of mortgagor-contracted fees such as late charges and prepayment penalties, which are credited to income when collected. Considerable judgment is required to determine the fair value of the Corporation’s MSRs. Unlike highly liquid investments, the market value of MSRs cannot be readily determined because these assets are not actively traded in securities markets. The initial carrying value of an MSR is generally determined based on its fair value. The Corporation determines the fair value of the MSRs based on a combination of market information on trading activity (MSR trades and broker valuations), benchmarking of servicing assets (valuation surveys), and cash flow modeling. The valuation of the Corporation’s MSRs incorporates two sets of assumptions: (1) market-derived assumptions for discount rates, servicing costs, escrow earnings rates, floating earnings rates, and the cost of funds; and (2) market assumptions calibrated to the Corporation’s loan characteristics and portfolio behavior for escrow balances, delinquencies and foreclosures, late fees, prepayments, and prepayment penalties. Once recorded, the Corporation periodically evaluates MSRs for impairment. Impairment occurs when the current fair value of the MSR is less than its carrying value. If an MSR is impaired, the impairment is recognized in current-period earnings and the carrying value of the MSR is adjusted through a valuation allowance. If the value of the MSR subsequently increases, the recovery in value is recognized in current period earnings and the carrying value of the MSR is adjusted through a reduction in the valuation allowance. For purposes of performing the MSR impairment evaluation, the servicing portfolio is stratified on the basis of certain risk characteristics, such as region, terms, and coupons. The Corporation conducts an other-than-temporary impairment (“OTTI”) analysis to evaluate whether a loss in the value of the MSR in a particular stratum, if any, is other than temporary or not. When the recovery of the value is unlikely in the foreseeable future, a write-down of the MSR in the stratum to its estimated recoverable value is charged to the valuation allowance. As of December 31, 2020, the aggregate carrying value of the MSRs amounted to $ 33.1 million (2019 - $ 26.8 million). The MSRs are amortized over the estimated life of the underlying loans based on an income forecast method as a reduction of servicing income. The income forecast method of amortization is based on projected cash flows. A particular periodic amortization is calculated by applying to the carrying amount of the MSRs the ratio of the cash flows projected for the current period to total remaining net MSR forecasted cash flow. |
Premises and equipment [Policy Text Block] | Premises and equipment Premises and equipment are carried at cost, net of accumulated depreciation and amortization. Depreciation is provided on the straight-line method over the estimated useful life of each type of asset. Amortization of leasehold improvements is computed over the terms of the leases ( i.e. , the contractual term plus lease renewals that are reasonably assured) or the estimated useful lives of the improvements, whichever is shorter. Costs of maintenance and repairs that do not improve or extend the life of the respective assets are expensed as incurred. Costs of renewals and betterments are capitalized. When the Corporation sells or disposes of assets, their cost and related accumulated depreciation are removed from the accounts and any gain or loss is reflected in earnings as part of other non-interest income in the consolidated statements of income. When the asset is no longer used in operations, and the Corporation intends to sell it, the asset is reclassified to other assets held for sale and is reported at the lower of the carrying amount or fair value less cost to sell. |
Lessee, Leases [Policy Text Block] | Leases The Corporation determines if an arrangement is a lease or contains a lease at inception. Operating and finance lease liabilities are recognized based on the present value of the remaining lease payments, discounted using the discount rate for the lease at the commencement date or at acquisition date in case of a business combination. As the rates implicit in the Corporation’s operating leases are not readily determinable, the Corporation generally uses an incremental borrowing rate based on information available at the commencement date to determine the present value of future lease payments. Operating right-of-use (“ROU”) assets and finance lease assets are generally recognized based on the amount of the initial measurement of the lease liability. The Corporation’s leases are primarily related to operating leases for the Bank’s branches and automated teller machines (“ATMs”). Most of the Corporation’s leases with operating ROU assets have terms of two years to thirty years, some of which include options to extend the leases for up to seven years. The Corporation does not recognize ROU assets and lease liabilities that arise from short-term leases, primarily related to certain month-to-month ATM operating leases. As of December 31, 2020, the Corporation did not have a lease that qualifies as a finance lease. Lease expense is recognized on a straight-line basis over the lease term. The Corporation includes the lease ROU asset and lease liability as part of other assets and accounts payable and other liabilities, respectively, in the consolidated statements of financial condition. |
Other real estate owned [Policy Text Block] | Other real estate owned OREO, which consists of real estate acquired in settlement of loans, is recorded at fair value minus estimated costs to sell the real estate acquired. Generally, loans have been written down to their net realizable value prior to foreclosure. Any further reduction to their net realizable value is recorded with a charge to the ACL at the time of foreclosure or shortly thereafter. Thereafter, gains or losses resulting from the sale of these properties and losses recognized on the periodic reevaluations of these properties are credited or charged to earnings and are included as part of net loss on OREO and OREO expenses in the consolidated statements of income. The cost of maintaining and operating these properties is expensed as incurred. The Corporation estimates fair values primarily based on appraisals, when available, and periodically reviews and updates the net realizable value. |
Business Combinations [Policy Text Block] | Business Combinations The Corporation accounts for acquisitions in accordance with the ASC Topic No. 805, “Business Combination” (“ASC 805”). 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. The acquisition date is the date the acquirer obtains control. 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 Corporation determined that the aforementioned acquisition of BSPR, completed on September 1, 2020, constituted a business combination as defined by ASC 805. Refer to Note 2 - Business Combination, to the consolidated financial statements for further discussion of the BSPR acquisition and its impact on the Corporation’s financial statements. |
Goodwill and other intangible assets [Policy Text Block] | Goodwill and other intangible assets Goodwill - Goodwill represents the cost in excess of the fair value of net assets acquired (including identifiable intangibles) in transactions accounted for as business combinations. The Corporation allocates goodwill to the reporting unit(s) that are expected to benefit from the synergies of the business combination. Once goodwill has been assigned to a reporting unit, it no longer retains its association with a particular acquisition, and all of the activities within a reporting unit, whether acquired or internally generated, are available to support the value of the goodwill. The Corporation tests goodwill for impairment at least annually as of October 1st of each year and more frequently if circumstances exist that indicate a possible reduction in the fair value of a reporting unit below its carrying value. If, after assessing all relevant events or circumstances, the Corporation concludes that it is more-likely-than-not that the fair value of a reporting unit is below its carrying value, then an impairment test is required. Every other year or when deemed necessary by any particular economic or Corporation specific circumstances, the Corporation bypasses the qualitative assessment and proceeds directly to a quantitative analysis. In addition to the goodwill recorded at the Commercial and Corporate, Consumer Retail, and Mortgage Banking reporting units in connection with the acquisition of BSPR in 2020, the Corporation’s goodwill is related to the United States (Florida) reporting unit. There have been no significant events since the acquisition date related to the reporting units for which the goodwill recorded in connection with the acquisition of BSPR was allocated that could indicate potential goodwill impairment. With respect to the test for impairment of the goodwill of the Florida reporting unit for 2020, the Corporation bypassed the qualitative assessment and performed a quantitative analysis. In determining the fair value of a reporting unit, which is based on the nature of the business and the reporting unit’s current and expected financial performance, the Corporation uses a combination of methods, including market price multiples of comparable companies, as well as a discounted cash flow analysis. The Corporation evaluates the results obtained under each valuation methodology to identify and understand the key value drivers in order to ascertain that the results obtained are reasonable and appropriate under the circumstances. The computations require management to make estimates and assumptions with regards to the fair value of its reporting unit. Actual values may differ significantly from these estimates. Such differences could result in future impairment of goodwill that would, in turn, negatively impact the Corporation’s results of operations and the profitability of the reporting unit where goodwill is recorded. Key assumptions that are used as part of these evaluations include: a selection of comparable publicly traded companies, based on size, performance, and asset quality; a selection of comparable and public acquisition transactions of entities of similar sizes; the discount rate applied to future earnings, based on an estimate of the cost of equity; the potential future earnings of the reporting unit; and the market growth and new business assumptions. For purposes of the market comparable approach, the valuation was determined based on market multiples for comparable companies and recent acquisition transactions and market participant assumptions applied to the reporting unit to derive an implied value of equity. For purposes of the discounted cash flow analysis, the valuation was based on estimated future cash flows. The financial projections used in the discounted cash flow analysis for the reporting unit were based on the most recent available data. The growth assumptions included in these projections were based on management’s expectations of the reporting unit’s financial prospects as well as particular plans for the entity ( i.e. , restructuring plans). The cost of equity was estimated using the capital asset pricing model taking into account comparable companies, an equity risk premium, the rate of return of a “riskless” asset, a size premium based on the size of the reporting unit, and a company specific premium. The resulting discount rate was analyzed in terms of reasonability given current market conditions. The evaluation of goodwill allocated to the Florida reporting unit, under both valuation approaches (market and discounted cash flow), indicated that the fair value of the unit exceeded the carrying amount of the unit, including goodwill, at the evaluation date (October 1). The Corporation engaged a third-party valuation specialist to assist management in the annual evaluation of the Florida unit’s goodwill as of the October 1, 2020 valuation date. In reaching its conclusion on impairment, management discussed with the specialist the methodologies, assumptions, and results supporting the relevant values for the goodwill and determined that they were reasonable. Based on the analyses discussed above, the Corporation determined that goodwill was not Intangible Assets subject to Amortization – The Corporation amortizes core deposit intangibles based on the projected useful lives of the related deposits, generally on a straight-line basis, and reviews these assets periodically for impairment when events or changes in circumstances indicate that the carrying amount may not exceed their fair value. The carrying value of core deposit intangible assets amounted to $ 35.8 million as of December 31, 2020 ($ 3.5 million as of December 31, 2019). In connection with the acquisition of a FirstBank-branded credit card loan portfolio in 2012, the Corporation recognized at acquisition a purchased credit card relationship intangible of $ 24.5 million ($ 1.7 million and $ 3.6 million as of December 31, 2020 and 2019, respectively). In addition, in connection with the acquisition of BSPR in the third quarter of 2020, the Corporation recognized at acquisition a purchased credit card relation intangible of $ 3.8 million ($ 3.0 million as of December 31, 2020). Both transactions are being amortized on an accelerated basis based on the estimated attrition rate of the purchased credit card accounts, which reflects the Corporation’s estimate that it will realize the economic benefits of the intangible asset as the revenue stream generated by the cardholder relationship is realized. These benefits are consumed as the revenue stream generated by the cardholder relationship is realized. For further disclosures, refer to Note 14 – Goodwill and other Intangibles, to the consolidated financial statements. In the first quarter of 2016, FirstBank Insurance Agency acquired certain insurance customer accounts and related customer records and recognized an insurance customer relationship intangible of $ 1.1 million ($ 0.3 million and $ 0.5 million as of December 31, 2020 and 2019, respectively), which the Corporation is amortizing on a straight-line basis. The list of accounts acquired has a direct relationship to previous mortgage loan portfolio acquisitions from Doral Bank and Doral Financial in 2015 and 2014, respectively. For intangible assets subject to amortization, the Corporation recognizes an impairment loss if it determines that the carrying value of the intangible asset is not recoverable and exceeds the fair value. The carrying value of the intangible asset is considered to be not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use of the asset. The Corporation performed impairment tests for the years ended December 31, 2020, 2019, and 2018 and determined that intangible assets subject to amortization were not impaired. |
Securities purchased and sold under agreements to repurchase [Policy Text Block] | Securities purchased and sold under agreements to repurchase The Corporation accounts for securities purchased under resale agreements and securities sold under repurchase agreements as collateralized financing transactions. Generally, the Corporation records these agreements at the amount at which the securities were purchased or sold. The Corporation monitors the fair value of securities purchased and sold, and obtains collateral from, or returns it to, the counterparties when appropriate. These financing transactions do not create material credit risk given the collateral involved and the related monitoring process. The Corporation sells and acquires securities under agreements to repurchase or resell the same or similar securities. Generally, similar securities are securities from the same issuer, with identical form and type, similar maturity, identical contractual interest rates, similar assets as collateral, and the same aggregate unpaid principal amount. The counterparty to certain agreements may have the right to repledge the collateral by contract or custom. The Corporation presents such assets separately in the consolidated statements of financial condition as securities pledged with creditors’ rights to repledge. Repurchase and resale activities may be transacted under legally enforceable master repurchase agreements that give the Corporation, in the event of default by the counterparty, the right to liquidate securities held and to offset receivables and payables with the same counterparty. The Corporation offsets repurchase and resale transactions with the same counterparty in the consolidated statements of financial condition where it has such a legally enforceable right under a master netting agreement and the transactions have the same maturity date. From time to time, the Corporation modifies repurchase agreements to take advantage of prevailing interest rates. Following applicable GAAP guidance, if the Corporation determines that the debt under the modified terms is substantially different from the original terms, the modification must be accounted for as an extinguishment of debt. The Corporation considers modified terms to be substantially different if the present value of the cash flows under the terms of the new debt instrument is at least 10% different from the present value of the remaining cash flows under the terms of the original instrument. The new debt instrument will be initially recorded at fair value, and that amount will be used to determine the debt extinguishment gain or loss to be recognized through the consolidated statements of income and the effective rate of the new instrument. If the Corporation determines that the debt under the modified terms is not substantially different, then the new effective interest rate is determined based on the carrying amount of the original debt instrument. The Corporation has determined that none of the repurchase agreements modified in the past were substantially different from the original terms, and, therefore, these modifications were not accounted for as extinguishments of debt. |
Rewards Liability [Policy Text Block] | Rewards liability The Corporation offers products, primarily credit cards, that offer various rewards to reward program members, such as airline tickets, cash, or merchandise, based on account activity. The Corporation generally recognizes the cost of rewards as part of business promotion expenses when the rewards are earned by the customer and, at that time, records the corresponding reward liability. The Corporation determines the reward liability based on points earned to date that the Corporation expects to be redeemed and the average cost per point redemption. The reward liability is reduced as points are redeemed. In estimating the reward liability, the Corporation considers historical reward redemption behavior, the terms of the current reward program, and the card purchase activity. The reward liability is sensitive to changes in the reward redemption type and redemption rate, which is based on the expectation that the vast majority of all points earned will eventually be redeemed. The reward liability, which is included in other liabilities in the consolidated statements of financial condition, totaled $ 7.5 million and $ 7.1 million as of December 31, 2020 and 2019, respectively. |
Income Taxes [PolicyText Block] | Income taxes The Corporation uses the asset and liability method for the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the Corporation’s financial statements or tax returns. Deferred income tax assets and liabilities are determined for differences between the financial statement and tax bases of assets and liabilities that will result in taxable or deductible amounts in the future. The computation is based on enacted tax laws and rates applicable to periods in which the temporary differences are expected to be recovered or settled. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount that is more likely than not to be realized. In making such assessment, significant weight is given to evidence that can be objectively verified, including both positive and negative evidence. The authoritative guidance for accounting for income taxes requires the consideration of all sources of taxable income available to realize the deferred tax asset, including the future reversal of existing temporary differences, tax planning strategies and future taxable income, exclusive of the impact of the reversal of temporary differences and carryforwards. In estimating taxes, management assesses the relative merits and risks of the appropriate tax treatment of transactions considering statutory, judicial, and regulatory guidance. Refer to Note 27 – Income Taxes, to the consolidated financial statements, for additional information. Under the authoritative accounting guidance, income tax benefits are recognized and measured based on a two-step analysis: 1) a tax position must be more likely than not to be sustained based solely on its technical merits in order to be recognized; and 2) the benefit is measured at the largest dollar amount of that position that is more likely than not to be sustained upon settlement. The difference between a benefit not recognized in accordance with this analysis and the tax benefit claimed on a tax return is referred to as an Unrecognized Tax Benefit (“UTB”). The Corporation classifies interest and penalties, if any, related to UTBs as components of income tax expense. As of December 31, 2020, the Corporation had UTBs in an aggregate amount of $ 1.0 million that it acquired from BSPR, which, if recognized, would decrease the effective income tax rate in future period. |
Treasury stock [Policy Text Block] | Treasury stock The Corporation accounts for treasury stock at par value. Under this method, the treasury stock account is increased by the par value of each share of common stock reacquired. Any excess amount paid per share over the par value is debited to additional paid-in capital for the amount per share that was originally credited. Any remaining excess is charged to retained earnings. |
Stock-based compensation [Policy Text Block] | Stock-based compensation Compensation cost is recognized in the financial statements for all share-based payment grants. 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 and non-equity-based compensation incentives (the “awards”) through the grant of stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, other stock-based awards and cash-based awards. The compensation cost for an award, determined based on the estimate of the fair value at the grant date (considering forfeitures and any post-vesting restrictions), is recognized over the period during which an employee or director is required to provide services in exchange for an award, which is the vesting period. 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 share-based compensation, as the effect of adjusting the rate for all expense amortization is recognized in the period in which the forfeiture estimate changes. 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. For additional information regarding the Corporation’s equity-based compensation and awards granted, refer to Note 22 – Stock-Based Compensation, to the consolidated financial statements. |
Comprehensive income [Policy Text Block] | Comprehensive income Comprehensive income for First BanCorp. includes net income, as well as change in unrealized gain (loss) on available-for-sale securities and change in unrecognized pension and post retirement costs, net of estimated tax effects. |
Pension and Postretirement Benefit Obligation [Policy Text Block] | Pension and Postretirement Benefit Obligations The Corporation maintains two frozen qualified noncontributory defined benefit pension plans (the “Pension Plans”) (including a complementary post-retirements benefits plan covering medical benefits and life insurance after retirement) that it assumed in the BSPR acquisition. Pension costs are computed on the basis of accepted actuarial methods and are charged to current operations. Net pension costs are based on various actuarial assumptions regarding future experience under the plan, which include costs for services rendered during the period, interest costs and return on plan assets, as well as deferral and amortization of certain items such as actuarial gains or losses. The funding policy is to contribute to the plan, as necessary, to provide for services to date and for those expected to be earned in the future. To the extent that these requirements are fully covered by assets in the plan, a contribution may not be made in a particular year. The cost of postretirement benefits, which is determined based on actuarial assumptions and estimates of the costs of providing these benefits in the future, is accrued during the years that the employee renders the required service. The guidance for compensation retirement benefits of ASC Topic 715, “Retirement Benefits,” requires the recognition of the funded status of each defined pension benefit plan, retiree health care plan and other postretirement benefit plans on the statement of financial condition |
Segment Information [Policy Text Block] | Segment information The Corporation reports financial and descriptive information about its reportable segments. Operating segments are components of an enterprise about which separate financial information is available that is evaluated regularly by management in deciding how to allocate resources and in assessing performance. The Corporation’s management determined that the segregation that best fulfills the segment definition described above is by 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 December 31, 2020, the Corporation had the following six operating segments that are all reportable segments: Commercial and Corporate Banking; Mortgage Banking; Consumer (Retail) Banking; Treasury and Investments; United States Operations; and Virgin Islands Operations. Refer to Note 36 – Segment Information, to the consolidated financial statements, for additional information. |
Valuation of financial instruments [Policy Text Block] | Valuation of financial instruments The measurement of fair value is fundamental to the Corporation’s presentation of its financial condition and results of operations. The Corporation holds debt and equity securities, derivatives, and other financial instruments at fair value. The Corporation holds its investments and liabilities mainly to manage liquidity needs and interest rate risks. A meaningful part of the Corporation’s total assets is reflected at fair value on the Corporation’s financial statements. The FASB’s 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. Three levels of inputs may be used to measure fair value: Level 1 Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 Valuations are based on unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Under the fair value accounting guidance, an entity has the irrevocable option to elect, on a contract-by-contract basis, to measure certain financial assets and liabilities at fair value at the inception of the contract and, thereafter, to reflect any changes in fair value in current earnings. The Corporation did not make any fair value option election as of December 31, 2020 or 2019. See Note 30 – Fair Value, to the consolidated financial statements, for additional information. |
Income recognition- Insurance agencies business [Policy Text Block] | Revenue from contract with customers Refer to Note 31 – Revenue from contracts with customers, for a detailed description of the Corporation’s policies on the recognition and presentation of revenues from contracts with customers, including the income recognition for the insurance agency commissions’ revenue. |
Earnings per common share [Policy Text Block] | Earnings per common share Earnings per share-basic is calculated 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 preferred stock dividends declared but not yet paid, and any cumulative preferred stock 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 excludes unvested shares of restricted stock that do not contain non-forfeitable dividend rights. The computation of diluted earnings per share is similar to the computation of basic earnings per share except that the number of weighted-average common shares is increased to include the number of additional common shares that would have been outstanding if the dilutive common shares had been issued, referred to as potential common shares. Potential dilutive common shares consist of unvested shares of restricted stock that do not contain non-forfeitable dividend rights, warrants outstanding during the period and common stock issued under the assumed exercise of stock options, if any, 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, stock options, and warrants 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. |
NATURE OF BUSINESS AND SUMMAR_2
NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended |
Dec. 31, 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) C&I 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 (1) Reflects the effect of the release of the excess of the previously-established ACL for PCD loans over the ACL determined for such loans following the CECL methodology, which resulted in a corresponding decrease to loans. |
BUSINESS COMBINATION (Tables)
BUSINESS COMBINATION (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Business Combinations [Abstract] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Fair Value as Originally Measurement Period Fair Value as (In thousands) Recorded Adjustments Remeasured Total purchase price consideration $ 1,277,626 $ 2,798 $ 1,280,424 Fair value of assets acquired: Cash and cash equivalents $ 1,684,252 $ - $ 1,684,252 Investment securities 1,167,225 - 1,167,225 Residential mortgage loans 807,637 ( 216) 807,421 Commercial mortgage loans 740,919 - 740,919 Commercial and Industrial loans 752,154 - 752,154 Consumer loans 214,206 - 214,206 Loans, net 2,514,916 ( 216) 2,514,700 Premises and equipment, net 12,499 - 12,499 Intangible assets 39,232 - 39,232 Other assets 144,008 ( 352) 143,656 Total assets and identifiable intangible assets acquired 5,562,132 ( 568) 5,561,564 Fair value of liabilities assumed: Deposits $ 4,194,940 $ - $ 4,194,940 Other liabilities 95,869 865 96,734 Total liabilities assumed 4,290,809 865 4,291,674 Fair value of net assets and identifiable intangible assets acquired 1,271,323 ( 1,433) 1,269,890 Goodwill $ 6,303 $ 4,231 $ 10,534 |
Business Acquisition, Pro Forma Information [Table Text Block] | Unaudited Pro Forma Results Year Ended Year Ended December 31, December 31, (In thousands) 2020 2019 Net interest income $ 722,556 $ 789,938 Non-interest income 132,180 129,303 Net income 183,972 213,311 |
MONEY MARKET INVESTMENTS (Table
MONEY MARKET INVESTMENTS (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Cash and Cash Equivalents, at Carrying Value [Abstract] | |
Schedule Of Money Market Investments [Table Text Block] | Money market investments as of December 31, 2020 and 2019 were as follows: 2020 2019 (Dollars in thousands) Time deposits with other financial institutions (1) (2) $ 300 $ 300 Overnight deposits with other financial institutions (3) 59,091 96,228 Other short-term investments (4) 1,181 1,180 $ 60,572 $ 97,708 |
INVESTMENT SECURITIES (Tables)
INVESTMENT SECURITIES (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Other Than Temporary Impairment Credit Losses Recognized In Earnings [Line Items] | |
Significant Assumptions in Valuation of Private Label MBS [Table Text Block] | The tables below present qualitative information for significant assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as of December 31, 2020 and 2019: December 31,2020 Fair Value Valuation Technique Unobservable Input Range Weighted Average (Dollars in thousands) Minimum Maximum Investment securities available-for-sale: Private label MBS $ 8,428 Discounted cash flows Discount rate 12.2% 12.2% 12.2% Prepayment rate 1.2% 18.8% 12.1% Projected Cumulative Loss Rate 2.6% 22.3% 10.2% Puerto Rico government obligations 2,899 Discounted cash flows Discount rate 7.9% 7.9% 7.9% Projected Cumulative Loss Rate 12.4% 12.4% 12.4% 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] | Year Ended December 31, 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) 1,333 - 1,333 Net charge-offs ( 331) - ( 331) ACL on debt securities available-for-sale $ 1,002 $ 308 $ 1,310 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Table Text Block] | Puerto Rico Municipal Bonds Year Ended December 31, 2020 (In thousands) Beginning Balance $ - Impact of adopting ASC 326 8,134 Initial allowance on PCD debt securities 1,269 Provision (release) for credit losses ( 558) $ 8,845 |
Debt Securities Held To Maturity Purchase With Credit Deterioration [Table Text Block] | (In thousands) Puerto Rico Municipal Bonds Purchase price of debt securities at acquisition (initial fair value) $ 55,532 ACL 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] | Held to Maturity Puerto Rico Municipal Bonds December 31, December 31 (In thousands) 2020 2019 Risk Ratings: Pass $ 189,488 $ 138,675 Criticized: Special Mention - - Substandard - - Doubtful - - Loss - - Total $ 189,488 $ 138,675 |
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 December 31, 2020 and December 31, 2019 were as follows December 31, 2020 Amortized cost Fair value Gross Unrecognized Weighted- (Dollars in thousands) Gains Losses ACL average yield% Puerto Rico municipal bonds: Due within one year $ 556 $ 7 $ - $ 563 $ - 5.41 After 1 to 5 years 17,297 561 305 17,553 576 3.00 After 5 to 10 years 88,394 1,388 3,146 86,636 4,401 4.66 After 10 years 83,241 - 14,187 69,054 3,868 3.57 Total investment securities held to maturity $ 189,488 $ 1,956 $ 17,638 $ 173,806 $ 8,845 4.03 December 31, 2019 Amortized cost Fair value Gross Unrecognized Weighted- (Dollars in thousands) Gains Losses 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 December 31, 2020 and December 31, 2019, including debt securities for which an ACL was recorded as of December 31, 2020: As of December 31, 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 $ 28,252 $ 1,611 $ 116,216 $ 16,027 $ 144,468 $ 17,638 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 |
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, ACL, estimated fair value, and weighted-average yield of investment securities available for sale by contractual maturities as of December 31, 2020 were as follows: December 31, 2020 Amortized cost Gross ACL Fair value Unrealized Weighted- Gains Losses average yield% (Dollars in thousands) U.S. Treasury securities: Due within one year $ 7,498 $ 9 $ - $ - $ 7,507 1.65 U.S. government-sponsored agencies' obligations: Due within one year 24,413 273 - - 24,686 1.95 After 1 to 5 years 691,668 911 290 - 692,289 0.57 After 5 to 10 years 441,454 821 347 - 441,928 0.83 After 10 years 21,413 - 149 - 21,264 0.65 Puerto Rico government obligations: After 10 years (1) 3,987 - 780 308 2,899 6.97 United States and Puerto Rico government obligations 1,190,433 2,014 1,566 308 1,190,573 0.72 MBS: FHLMC certificates: After 1 to 5 years 75 8 - - 83 4.86 After 5 to 10 years 60,773 2,850 - - 63,623 2.15 After 10 years 1,070,984 15,340 159 - 1,086,165 1.38 1,131,832 18,198 159 - 1,149,871 1.42 GNMA certificates: Due within one year 1 - - - 1 1.93 After 1 to 5 years 26,918 1,080 - - 27,998 2.91 After 5 to 10 years 40,727 128 69 - 40,786 0.42 After 10 years 614,584 16,271 148 - 630,707 1.27 682,230 17,479 217 - 699,492 1.29 FNMA certificates: After 1 to 5 years 24,812 891 - - 25,703 2.81 After 5 to 10 years 110,832 5,783 - - 116,615 2.13 After 10 years 1,154,707 23,459 203 - 1,177,963 1.53 1,290,351 30,133 203 - 1,320,281 1.61 Collateralized mortgage obligations issued or guaranteed by the FHLMC FNMA and GNMA: After 1 to 5 years 538 - 1 - 537 0.81 After 5 to 10 years 18,438 152 - - 18,590 0.80 After 10 years 258,069 1,019 491 - 258,597 1.56 277,045 1,171 492 - 277,724 1.51 Private label: After 10 years 12,310 - 2,880 1,002 8,428 2.25 Total MBS 3,393,768 66,981 3,951 1,002 3,455,796 1.47 Other After 1 to 5 years 650 - - - 650 2.94 Total investment securities available for sale $ 4,584,851 $ 68,995 $ 5,517 $ 1,310 $ 4,647,019 1.28 December 31, 2019 Amortized cost Gross Fair value Unrealized 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 The aggregate amortized cost and approximate market value of investment securities available for sale as of December 31, 2020 by contractual maturity are shown below: Amortized Cost Fair Value (Dollars in thousands) United States and Puerto Rico government obligations, and other debt securities: Within 1 year $ 31,911 $ 32,193 After 1 to 5 years 692,318 692,939 After 5 to 10 years 441,454 441,928 After 10 years 25,400 24,163 1,191,083 1,191,223 MBS and collateralized mortgage obligations (1) 3,393,768 3,455,796 Total investment securities available for sale $ 4,584,851 $ 4,647,019 (1) The expected maturities of MBS and collateralized mortgage obligations may differ from their contractual maturities because they may be subject to prepayments. |
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 December 31, 2020 and December 31, 2019. The tables also include debt securities for which an ACL was recorded as of December 31, 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 December 31, 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 $ - $ - $ 2,899 $ 780 $ 2,899 $ 780 U.S. Treasury and U.S. government agencies’ obligations 425,155 621 23,377 165 448,532 786 MBS: FNMA 93,509 203 - - 93,509 203 FHLMC 89,292 159 - - 89,292 159 GNMA 70,504 217 - - 70,504 217 Collateralized mortgage obligations issued or guaranteed by the FHLMC, FNMA and GNMA 104,500 410 9,761 82 114,261 492 Private label MBS - - 8,428 2,880 8,428 2,880 $ 782,960 $ 1,610 $ 44,465 $ 3,907 $ 827,425 $ 5,517 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 agencies’ 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 |
Significant Assumptions in Valuation of Private Label MBS [Table Text Block] | As of As of December 31, 2020 December 31, 2019 Weighted Range Weighted Range Average Minimum Maximum Average Minimum Maximum Discount rate 12.2% 12.2% 12.2% 13.7% 13.7% 13.7% Prepayment rate 12.1% 1.2% 18.8% 7.9% 6.8% 10.3% Projected Cumulative Loss Rate 10.2% 2.6% 22.3% 2.8% 0.0% 7.4% |
OTTI Losses on Debt Securities [Table Text Block] | During the years ended December 31, 2019 and 2018, the Corporation recorded OTTI losses on available-for-sale debt securities as follows: 2019 2018 (In thousands) Total OTTI losses $ ( 557) $ - Portion of OTTI recognized in OCI 60 ( 50) Net impairment losses recognized in earnings (1) $ ( 497) $ ( 50) |
Schedule of Available-for-sale Securities by issuer type [Table Text Block] | The following table states the names of issuers, and the aggregate amortized cost and market value of the securities of such issuers, when the aggregate amortized cost of such securities exceeds 10% of the Corporation’s stockholders’ equity. This information excludes securities of the U.S. and Puerto Rico governments. Investments in obligations issued by a state of the U.S. and its political subdivisions and agencies that are payable and secured by the same source of revenue or taxing authority, other than the U.S. government, are considered securities of a single issuer and include debt securities and MBS. As of As of December 31, 2020 December 31, 2019 Amortized Amortized Cost Fair Value Cost Fair Value (In thousands) FHLMC $ 1,502,614 $ 1,520,819 $ 509,769 $ 513,249 GNMA 850,384 868,070 370,511 377,872 FNMA 1,662,145 1,692,172 915,704 924,663 |
INTEREST AND DIVIDEND ON INVE_2
INTEREST AND DIVIDEND ON INVESTMENTS (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Investment Income, Interest and Dividend [Abstract] | |
Schedule of interest on investments and FHLB dividend income | The following provides information about interest on investments, interest-bearing cash accounts, and FHLB dividend income: Year Ended December 31, 2020 2019 2018 (In thousands) MBS: Taxable $ 9,404 $ 7,812 $ 8,688 Exempt (1) 30,877 29,232 27,741 40,281 37,044 36,429 Puerto Rico government obligations, U.S. Treasury securities, and U.S. government agencies: Taxable 1,032 165 470 Exempt (1) 15,235 19,623 20,582 16,267 19,788 21,052 Other investment securities (including FHLB dividends) Taxable 1,999 2,714 2,743 Total interest income on investment securities 58,547 59,546 60,224 Interest on money market investments and interest-bearing cash accounts: Taxable 3,386 13,205 10,863 Exempt 2 148 233 Total interest income on money market investments and interest-bearing cash accounts 3,388 13,353 11,096 Total interest and dividend income on investment securities, money market investments, and interest-bearing cash accounts $ 61,935 $ 72,899 $ 71,320 The following table summarizes the components of interest and dividend income on investments: Year Ended December 31, 2020 2019 2018 (In thousands) Interest income on investment securities, money market investments, and interest-bearing cash accounts $ 59,976 $ 70,217 $ 68,592 Dividends on FHLB stock 1,959 2,682 2,728 Total interest income and dividends on investments $ 61,935 $ 72,899 $ 71,320 |
LOANS HELD FOR INVESTMENT (Tabl
LOANS HELD FOR INVESTMENT (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Accounts, Notes, Loans and Financing 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 December 31, As of December 31, 2020 2019 (In thousands) Residential mortgage loans, mainly secured by first mortgages $ 3,521,954 $ 2,933,773 Construction loans 212,500 111,317 Commercial mortgage loans 2,230,602 1,444,586 C&I loans (1) (2) 3,202,590 2,230,876 Consumer loans 2,609,643 2,281,653 Loans held for investment (3)(4) 11,777,289 9,002,205 ACL on loans and finance leases ( 385,887) ( 155,139) Loans held for investment, net $ 11,391,402 $ 8,847,066 |
Loans Held for Investment on Which Accrual of Interest Income had been Discontinued [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 December 31, 2020 and 2019 and the interest income recognized on nonaccrual loans for the year ended December 31, 2020: As of December 31, 2020 Year Ended December 31, 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 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 $ - $ - $ - $ 98,993 $ - $ - $ 81,011 Conventional residential mortgage loans 12,418 98,527 110,945 38,834 1,050 108,117 40,208 Construction loans 4,546 8,425 12,971 - 80 9,782 - Commercial mortgage loans 11,777 17,834 29,611 3,252 194 40,076 2,222 C&I loans 14,824 5,496 20,320 2,246 86 18,458 7,061 Consumer Loans: Auto loans 26 8,638 8,664 - 164 12,057 - Finance leases - 1,466 1,466 - 25 1,354 - Personal loans - 1,623 1,623 - 49 1,523 - Credit cards - - - 1,520 - - 4,411 Other consumer loans - 3,682 3,682 - 5 5,016 - Total loans held for investment (1) $ 43,591 $ 145,691 $ 189,282 $ 144,845 $ 1,653 $ 196,383 $ 134,913 As of December 31, 2020 Year Ended December 31, 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 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 2,584 11,838 14,422 - 285 13,291 - Construction loans - - - - - - - Commercial mortgage loans - - - - - - - C&I loans 561 - 561 - 71 315 - Consumer Loans: Auto loans - 223 223 - 12 163 - Finance leases - - - - - - - Personal loans - - - - - 5 - Credit cards - - - - - - - Other consumer loans - 601 601 - 8 511 - Total loans held for investment (1) $ 3,145 $ 12,662 $ 15,807 $ 250 $ 376 $ 14,285 $ 129 As of December 31, 2020 Year Ended December 31, 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 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 $ - $ - $ - $ 99,243 $ - $ - $ 81,140 Conventional residential mortgage loans 15,002 110,365 125,367 38,834 1,335 121,408 40,208 Construction loans 4,546 8,425 12,971 - 80 9,782 - Commercial mortgage loans 11,777 17,834 29,611 3,252 194 40,076 2,222 C&I loans 15,385 5,496 20,881 2,246 157 18,773 7,061 Consumer Loans: Auto loans 26 8,861 8,887 - 176 12,220 - Finance leases - 1,466 1,466 - 25 1,354 - Personal loans - 1,623 1,623 - 49 1,528 - Credit cards - - - 1,520 - - 4,411 Other consumer loans - 4,283 4,283 - 13 5,527 - Total loans held for investment (1) $ 46,736 $ 158,353 $ 205,089 $ 145,095 $ 2,029 $ 210,668 $ 135,042 |
Corporation's Aging of Loans Held for Investment Portfolio [Table Text Block] | The Corporation’s aging of the loan portfolio held for investment by portfolio classes as of December 31, 2020 is as follows: As of December 31, 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)(3) 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) $ - $ 2,223 $ 98,993 $ 101,216 $ 48,348 $ 149,564 Conventional residential mortgage loans (4) - 61,040 149,779 210,819 2,641,820 2,852,639 Commercial loans: Construction loans (4) - 19 12,971 12,990 72,026 85,016 Commercial mortgage loans (4) 5,071 6,588 32,863 44,522 1,808,702 1,853,224 C&I loans 3,283 10,692 22,566 36,541 2,228,190 2,264,731 Consumer loans: Auto loans 24,025 5,992 8,664 38,681 1,239,445 1,278,126 Finance leases 5,059 1,086 1,466 7,611 465,378 472,989 Personal loans 4,034 1,981 1,623 7,638 364,373 372,011 Credit cards 3,528 5,842 1,518 10,888 308,936 319,824 Other consumer loans 2,143 993 3,684 6,820 133,162 139,982 Total loans held for investment $ 47,143 $ 96,456 $ 334,127 $ 477,726 $ 9,310,380 $ 9,788,106 As of December 31,2020 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) (3) $ - $ - $ 250 $ 250 $ 920 $ 1,170 Conventional residential mortgage loans (3) - 3,237 14,422 17,659 500,922 518,581 Commercial loans: Construction loans - - - - 127,484 127,484 Commercial mortgage loans - - - - 377,378 377,378 C&I loans 218 - 561 779 937,080 937,859 Consumer loans: Auto loans 710 297 223 1,230 17,068 18,298 Finance leases - - - - - - Personal loans - - - - 157 157 Credit cards - - - - - - Other consumer loans 58 - 601 659 7,597 8,256 Total loans held for investment $ 986 $ 3,534 $ 16,057 $ 20,577 $ 1,968,606 $ 1,989,183 As of December 31, 2020 Total 30-59 Days Past Due 60-89 Days Past Due 90 days or more Past Due (1)(2)(3) 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) $ - $ 2,223 $ 99,243 $ 101,466 $ 49,268 $ 150,734 Conventional residential mortgage loans (4) - 64,277 164,201 228,478 3,142,742 3,371,220 Commercial loans: Construction loans (4) - 19 12,971 12,990 199,510 212,500 Commercial mortgage loans (4) 5,071 6,588 32,863 44,522 2,186,080 2,230,602 C&I loans 3,501 10,692 23,127 37,320 3,165,270 3,202,590 Consumer loans: Auto loans 24,735 6,289 8,887 39,911 1,256,513 1,296,424 Finance leases 5,059 1,086 1,466 7,611 465,378 472,989 Personal loans 4,034 1,981 1,623 7,638 364,530 372,168 Credit cards 3,528 5,842 1,518 10,888 308,936 319,824 Other consumer loans 2,201 993 4,285 7,479 140,759 148,238 Total loans held for investment $ 48,129 $ 99,990 $ 350,184 $ 498,303 $ 11,278,986 $ 11,777,289 The Corporation’s aging of the loan portfolio held for investment by portfolio classes as of December 31, 2019 was 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)(3) 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 (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 C&I 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 (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 C&I 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)(3) 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 (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 C&I 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 by Loan [Table Text Block] | Based on the most recent analysis performed, the amortized cost of commercial and construction loans by portfolio classes and by origination year based on the internal credit-risk category as of December 31, 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 December 31, 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 $ 12,676 $ 33,472 $ 1,768 $ 15,825 $ 1,920 $ 3,175 $ - $ 68,836 $ 35,680 Criticized: Special Mention - 776 - - - - - 776 - Substandard - 886 4,934 - 5,269 4,315 - 15,404 12,566 Doubtful - - - - - - - - - Loss - - - - - - - - - Total construction loans $ 12,676 $ 35,134 $ 6,702 $ 15,825 $ 7,189 $ 7,490 $ - $ 85,016 $ 48,246 COMMERCIAL MORTGAGE Risk Ratings: Pass $ 383,847 $ 264,499 $ 201,344 $ 183,056 $ 143,673 $ 334,875 $ 533 $ 1,511,827 $ 891,298 Criticized: Special Mention - 81,797 71,731 119,255 8,766 11,187 - 292,736 13,080 Substandard 188 - - - 704 47,769 - 48,661 175,522 Doubtful - - - - - - - - - Loss - - - - - - - - - Total commercial mortgage loans $ 384,035 $ 346,296 $ 273,075 $ 302,311 $ 153,143 $ 393,831 $ 533 $ 1,853,224 $ 1,079,900 COMMERCIAL AND INDUSTRIAL Risk Ratings: Pass $ 642,966 $ 395,232 $ 237,958 $ 226,469 $ 109,300 $ 186,781 $ 356,520 $ 2,155,226 $ 1,321,804 Criticized: Special Mention - 455 - 827 68 30,335 27,736 59,421 39,327 Substandard 1,389 713 2,721 18,218 1,610 24,438 995 50,084 27,265 Doubtful - - - - - - - - 2,768 Loss - - - - - - - - 249 Total commercial and industrial loans $ 644,355 $ 396,400 $ 240,679 $ 245,514 $ 110,978 $ 241,554 $ 385,251 $ 2,264,731 $ 1,391,413 As of December 31, 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 $ 61,813 $ 21,672 $ 43,168 $ - $ - $ - $ 831 $ 127,484 $ 63,071 Criticized: Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Loss - - - - - - - - - Total construction loans $ 61,813 $ 21,672 $ 43,168 $ - $ - $ - $ 831 $ 127,484 $ 63,071 COMMERCIAL MORTGAGE Risk Ratings: Pass $ 48,429 $ 81,161 $ 39,941 $ 51,733 $ 28,091 $ 18,577 $ 23,695 $ 291,627 $ 364,370 Criticized: Special Mention 16,803 23,720 6,782 5,350 10,721 17,196 4,855 85,427 - Substandard - - - - - 324 - 324 316 Doubtful - - - - - - - - - Loss - - - - - - - - - Total commercial mortgage loans $ 65,232 $ 104,881 $ 46,723 $ 57,083 $ 38,812 $ 36,097 $ 28,550 $ 377,378 $ 364,686 COMMERCIAL AND INDUSTRIAL Risk Ratings: Pass $ 174,914 $ 264,660 $ 94,375 $ 84,630 $ 9,738 $ 46,142 $ 148,665 $ 823,124 $ 837,697 Criticized: Special Mention 2,999 58,880 12,095 - - - - 73,974 - Substandard 38,727 - - - - 1,697 337 40,761 1,766 Doubtful - - - - - - - - - Loss - - - - - - - - - Total commercial and industrial loans $ 216,640 $ 323,540 $ 106,470 $ 84,630 $ 9,738 $ 47,839 $ 149,002 $ 937,859 $ 839,463 As of December 31, 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 $ 74,489 $ 55,144 $ 44,936 $ 15,825 $ 1,920 $ 3,175 $ 831 $ 196,320 $ 98,751 Criticized: Special Mention - 776 - - - - - 776 - Substandard - 886 4,934 - 5,269 4,315 - 15,404 12,566 Doubtful - - - - - - - - - Loss - - - - - - - - - Total construction loans $ 74,489 $ 56,806 $ 49,870 $ 15,825 $ 7,189 $ 7,490 $ 831 $ 212,500 $ 111,317 COMMERCIAL MORTGAGE Risk Ratings: Pass $ 432,276 $ 345,660 $ 241,285 $ 234,789 $ 171,764 $ 353,452 $ 24,228 $ 1,803,454 $ 1,255,668 Criticized: Special Mention 16,803 105,517 78,513 124,605 19,487 28,383 4,855 378,163 13,080 Substandard 188 - - - 704 48,093 - 48,985 175,838 Doubtful - - - - - - - - - Loss - - - - - - - - - Total commercial mortgage loans $ 449,267 $ 451,177 $ 319,798 $ 359,394 $ 191,955 $ 429,928 $ 29,083 $ 2,230,602 $ 1,444,586 COMMERCIAL AND INDUSTRIAL Risk Ratings: Pass $ 817,880 $ 659,892 $ 332,333 $ 311,099 $ 119,038 $ 232,923 $ 505,185 $ 2,978,350 $ 2,159,501 Criticized: Special Mention 2,999 59,335 12,095 827 68 30,335 27,736 133,395 39,327 Substandard 40,116 713 2,721 18,218 1,610 26,135 1,332 90,845 29,031 Doubtful - - - - - - - - 2,768 Loss - - - - - - - - 249 Total commercial and industrial loans $ 860,995 $ 719,940 $ 347,149 $ 330,144 $ 120,716 $ 289,393 $ 534,253 $ 3,202,590 $ 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 December 31, 2020 and the amortized cost of residential mortgage loans by original LTV and original credit scores as of December 31, 2019: As of December 31, 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 $ 278 $ 2,416 $ 2,594 $ 4,354 $ 9,673 $ 130,249 $ - $ 149,564 $ 122,429 Conventional residential mortgage loans: Original LTV: ` Less than or equal to 90 percent 37,989 61,202 101,157 65,334 88,292 1,675,203 - 2,029,177 1,684,340 Greater than 90 percent but less than or equal to 100 percent 1,644 7,106 8,319 5,565 16,431 685,984 - 725,049 460,879 Greater than 100 percent - 939 5,449 2,765 7,362 81,898 - 98,413 99,939 Total residential mortgages in Puerto Rico and Virgin Islands region $ 39,911 $ 71,663 $ 117,519 $ 78,018 $ 121,758 $ 2,573,334 $ - $ 3,002,203 $ 2,367,587 Florida region: FHA/VA government-guaranteed loans $ - $ - $ - $ 285 $ - $ 885 $ - $ 1,170 $ 1,480 Conventional residential mortgage loans: Original LTV: ` Less than or equal to 90 percent 33,841 50,563 60,581 87,321 78,588 186,516 - 497,410 549,850 Greater than 90 percent but less than or equal to 100 percent 8,770 2,035 2,827 4,192 2,319 1,028 - 21,171 14,796 Greater than 100 percent - - - - - - - - 60 Total residential mortgages in Florida region $ 42,611 $ 52,598 $ 63,408 $ 91,798 $ 80,907 $ 188,429 $ - $ 519,751 $ 566,186 Total: FHA/VA government-guaranteed loans $ 278 $ 2,416 $ 2,594 $ 4,639 $ 9,673 $ 131,134 $ - $ 150,734 $ 123,909 Conventional residential mortgage loans: Original LTV: Less than or equal to 90 percent 71,830 111,765 161,738 152,655 166,880 1,861,719 - 2,526,587 2,234,190 Greater than 90 percent but less than or equal to 100 percent 10,414 9,141 11,146 9,757 18,750 687,012 - 746,220 475,675 Greater than 100 percent - 939 5,449 2,765 7,362 81,898 - 98,413 99,999 Total residential mortgages $ 82,522 $ 124,261 $ 180,927 $ 169,816 $ 202,665 $ 2,761,763 $ - $ 3,521,954 $ 2,933,773 As of December 31, 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 $ 278 $ 2,416 $ 2,594 $ 4,354 $ 9,673 $ 130,249 $ - $ 149,564 $ 122,429 Conventional residential mortgage loans: Original FICO Score: Less than 620 46 77 464 55 74 325,474 - 326,190 286,754 Greater than or equal to 620 and less than 680 2,144 3,370 8,309 7,416 8,721 511,349 - 541,309 416,766 Greater than or equal to 680 and less than 740 15,009 24,265 40,391 24,308 37,765 700,059 - 841,797 626,291 Greater than or equal to 740 22,434 41,535 65,761 41,885 65,525 906,203 - 1,143,343 915,347 Total residential mortgages in Puerto Rico and Virgin Islands region $ 39,911 $ 71,663 $ 117,519 $ 78,018 $ 121,758 $ 2,573,334 $ - $ 3,002,203 $ 2,367,587 Florida region: FHA/VA government-guaranteed loans $ - $ - $ - $ 285 $ - $ 885 $ - $ 1,170 $ 1,480 Conventional residential mortgage loans: Original FICO Score: Less than 620 - - 2,509 - - 821 - 3,330 3,485 Greater than or equal to 620 and less than 680 3,546 5,068 3,440 8,758 11,433 16,175 - 48,420 51,164 Greater than or equal to 680 and less than 740 11,810 15,520 13,810 29,118 26,707 42,232 - 139,197 151,544 Greater than or equal to 740 27,255 32,010 43,649 53,637 42,767 128,316 - 327,634 358,513 Total residential mortgages in Florida region $ 42,611 $ 52,598 $ 63,408 $ 91,798 $ 80,907 $ 188,429 $ - $ 519,751 $ 566,186 Total: FHA/VA government-guaranteed loans $ 278 $ 2,416 $ 2,594 $ 4,639 $ 9,673 $ 131,134 $ - $ 150,734 $ 123,909 Conventional residential mortgage loans: Original FICO Score: Less than 620 46 77 2,973 55 74 326,295 - 329,520 290,239 Greater than or equal to 620 and less than 680 5,690 8,438 11,749 16,174 20,154 527,524 - 589,729 467,930 Greater than or equal to 680 and less than 740 26,819 39,785 54,201 53,426 64,472 742,291 - 980,994 777,835 Greater than or equal to 740 49,689 73,545 109,410 95,522 108,292 1,034,519 - 1,470,977 1,273,860 Total residential mortgages $ 82,522 $ 124,261 $ 180,927 $ 169,816 $ 202,665 $ 2,761,763 $ - $ 3,521,954 $ 2,933,773 The following tables present the amortized cost of consumer loans by origination year based on original credit scores as of December 31, 2020 and the amortized cost of consumer loans based on original credit scores as of December 31, 2019: CONSUMER As of December 31, 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 $ 42,307 $ 46,816 $ 23,600 $ 10,628 $ 7,204 $ 4,451 $ - $ 135,006 $ 126,540 Greater than or equal to 620 and less than 680 134,118 141,778 88,354 37,491 17,955 10,738 - 430,434 388,890 Greater than or equal to 680 and less than 740 136,744 124,654 74,128 32,874 17,628 6,843 - 392,871 333,734 Greater than or equal to 740 129,343 95,516 48,184 26,030 15,595 5,147 - 319,815 255,196 Total auto loans $ 442,512 $ 408,764 $ 234,266 $ 107,023 $ 58,382 $ 27,179 $ - $ 1,278,126 $ 1,104,360 Finance leases Original FICO score: Less than 620 $ 3,149 $ 5,300 $ 4,217 $ 1,787 $ 471 $ 258 $ - $ 15,182 $ 15,852 Greater than or equal to 620 and less than 680 29,292 35,683 27,540 11,798 4,565 2,302 - 111,180 100,438 Greater than or equal to 680 and less than 740 54,222 58,388 46,563 18,060 10,552 4,061 - 191,846 170,034 Greater than or equal to 740 50,234 49,626 32,861 9,124 9,722 3,214 - 154,781 128,208 Total finance leases $ 136,897 $ 148,997 $ 111,181 $ 40,769 $ 25,310 $ 9,835 $ - $ 472,989 $ 414,532 Personal loans Original FICO score: Less than 620 $ 1,791 $ 2,636 $ 2,097 $ 1,292 $ 1,008 $ 2,126 $ - $ 10,950 $ 8,197 Greater than or equal to 620 and less than 680 9,650 23,969 9,730 3,793 1,441 1,082 - 49,665 52,712 Greater than or equal to 680 and less than 740 35,466 64,509 30,386 15,974 8,921 5,224 - 160,480 114,147 Greater than or equal to 740 30,781 55,421 31,084 16,144 8,794 4,398 - 146,622 98,668 Unscorable 673 1,722 868 479 234 318 - 4,294 369 Total personal loans $ 78,361 $ 148,257 $ 74,165 $ 37,682 $ 20,398 $ 13,148 $ - $ 372,011 $ 274,093 Credit cards Original FICO score: Less than 620 $ - $ - $ - $ - $ - $ - $ 12,978 $ 12,978 $ 11,247 Greater than or equal to 620 and less than 680 - - - - - - 60,961 60,961 57,643 Greater than or equal to 680 and less than 740 - - - - - - 137,563 137,563 126,977 Greater than or equal to 740 - - - - - - 103,938 103,938 96,423 Unscorable - - - - - - 4,384 4,384 - Total credit cards $ - $ - $ - $ - $ - $ - $ 319,824 $ 319,824 $ 292,290 Other consumer loans Original FICO score: Less than 620 $ 4,815 $ 10,358 $ 2,760 $ 1,699 $ 601 $ 377 $ 3,130 $ 23,740 $ 28,251 Greater than or equal to 620 and less than 680 18,443 23,746 7,059 3,616 1,408 5,829 1,566 61,667 68,727 Greater than or equal to 680 and less than 740 13,415 13,031 4,743 2,142 753 1,906 2,612 38,602 41,914 Greater than or equal to 740 4,270 3,581 1,161 571 215 409 1,328 11,535 13,359 Unscorable - - - - - 1,645 2,793 4,438 3,605 Total other consumer loans $ 40,943 $ 50,716 $ 15,723 $ 8,028 $ 2,977 $ 10,166 $ 11,429 $ 139,982 $ 155,856 Total consumer loans in Puerto Rico and Virgin Islands region $ 698,713 $ 756,734 $ 435,335 $ 193,502 $ 107,067 $ 60,328 $ 331,253 $ 2,582,932 $ 2,241,131 CONSUMER As of December 31, 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 $ 824 $ 703 $ 589 $ 116 $ - $ 2,269 $ 3,857 Greater than or equal to 620 and less than 680 - 518 3,833 3,029 1,355 307 - 9,042 15,052 Greater than or equal to 680 and less than 740 - 354 2,788 1,340 505 107 - 5,094 8,590 Greater than or equal to 740 - 226 1,315 266 75 11 - 1,893 2,996 Total auto loans $ - $ 1,135 $ 8,760 $ 5,338 $ 2,524 $ 541 $ - $ 18,298 $ 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 $ 102 $ 5 $ - $ - $ - $ - $ - $ 107 $ 593 Greater than or equal to 620 and less than 680 8 - - - - - - 8 - Greater than or equal to 680 and less than 740 - 38 - - - - - 38 85 Greater than or equal to 740 4 - - - - - - 4 71 Unscorable - - - - - - - - 33 Total personal loans $ 114 $ 43 $ - $ - $ - $ - $ - $ 157 $ 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 $ - $ - $ - $ - $ - $ - $ 164 $ 164 $ 83 Greater than or equal to 620 and less than 680 188 - - 109 27 610 89 1,023 874 Greater than or equal to 680 and less than 740 178 - 42 50 322 1,094 494 2,180 2,559 Greater than or equal to 740 131 - - 24 219 2,589 1,926 4,889 5,573 Unscorable - - - - - - - - 156 Total other consumer loans $ 497 $ - $ 42 $ 183 $ 568 $ 4,293 $ 2,673 $ 8,256 $ 9,245 Total consumer loans in Florida region $ 611 $ 1,178 $ 8,802 $ 5,521 $ 3,092 $ 4,834 $ 2,673 $ 26,711 $ 40,522 CONSUMER As of December 31, 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 $ 42,307 $ 46,853 $ 24,424 $ 11,331 $ 7,793 $ 4,567 $ - $ 137,275 $ 130,397 Greater than or equal to 620 and less than 680 134,118 142,296 92,187 40,520 19,310 11,045 - 439,476 403,942 Greater than or equal to 680 and less than 740 136,744 125,008 76,916 34,214 18,133 6,950 - 397,965 342,324 Greater than or equal to 740 129,343 95,742 49,499 26,296 15,670 5,158 - 321,708 258,192 Total auto loans $ 442,512 $ 409,899 $ 243,026 $ 112,361 $ 60,906 $ 27,720 $ - $ 1,296,424 $ 1,134,855 Finance leases Original FICO score: Less than 620 $ 3,149 $ 5,300 $ 4,217 $ 1,787 $ 471 $ 258 $ - $ 15,182 $ 15,852 Greater than or equal to 620 and less than 680 29,292 35,683 27,540 11,798 4,565 2,302 - 111,180 100,438 Greater than or equal to 680 and less than 740 54,222 58,388 46,563 18,060 10,552 4,061 - 191,846 170,034 Greater than or equal to 740 50,234 49,626 32,861 9,124 9,722 3,214 - 154,781 128,208 Total finance leases $ 136,897 $ 148,997 $ 111,181 $ 40,769 $ 25,310 $ 9,835 $ - $ 472,989 $ 414,532 Personal loans Original FICO score: Less than 620 $ 1,893 $ 2,641 $ 2,097 $ 1,292 $ 1,008 $ 2,126 $ - $ 11,057 $ 8,790 Greater than or equal to 620 and less than 680 9,658 23,969 9,730 3,793 1,441 1,082 - 49,673 52,712 Greater than or equal to 680 and less than 740 35,466 64,547 30,386 15,974 8,921 5,224 - 160,518 114,232 Greater than or equal to 740 30,785 55,421 31,084 16,144 8,794 4,398 - 146,626 98,739 Unscorable 673 1,722 868 479 234 318 - 4,294 402 Total personal loans $ 78,475 $ 148,300 $ 74,165 $ 37,682 $ 20,398 $ 13,148 $ - $ 372,168 $ 274,875 Credit cards Original FICO score: Less than 620 $ - $ - $ - $ - $ - $ - $ 12,978 $ 12,978 $ 11,247 Greater than or equal to 620 and less than 680 - - - - - - 60,961 60,961 57,643 Greater than or equal to 680 and less than 740 - - - - - - 137,563 137,563 126,977 Greater than or equal to 740 - - - - - - 103,938 103,938 96,423 Unscorable - - - - - - 4,384 4,384 - Total credit cards $ - $ - $ - $ - $ - $ - $ 319,824 $ 319,824 $ 292,290 Other consumer loans Original FICO score: Less than 620 $ 4,815 $ 10,358 $ 2,760 $ 1,699 $ 601 $ 377 $ 3,294 $ 23,904 $ 28,334 Greater than or equal to 620 and less than 680 18,631 23,746 7,059 3,725 1,435 6,439 1,655 62,690 69,601 Greater than or equal to 680 and less than 740 13,593 13,031 4,785 2,192 1,075 3,000 3,106 40,782 44,473 Greater than or equal to 740 4,401 3,581 1,161 595 434 2,998 3,254 16,424 18,932 Unscorable - - - - - 1,645 2,793 4,438 3,761 Total other consumer loans $ 41,440 $ 50,716 $ 15,765 $ 8,211 $ 3,545 $ 14,459 $ 14,102 $ 148,238 $ 165,101 Total consumer loans $ 699,324 $ 757,912 $ 444,137 $ 199,023 $ 110,159 $ 65,162 $ 333,926 $ 2,609,643 $ 2,281,653 |
Changes in Allowance for Loan and Lease Losses [Table Text Block] | The following table presents the activity in the ACL on loans and finance leases by portfolio segment for the indicated periods: Residential Mortgage Loans Construction Loans Commercial Mortgage Commercial & Industrial Loans Consumer Loans Total Year Ended December 31,2020 (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 (1) 22,427 2,105 81,125 6,627 56,433 168,717 Charge-offs ( 11,017) ( 76) ( 3,330) ( 3,634) ( 46,483) ( 64,540) Recoveries 1,519 184 1,936 3,192 9,831 16,662 Ending balance $ 120,311 $ 5,380 $ 109,342 $ 37,944 $ 112,910 $ 385,887 Residential Mortgage Loans Construction Loans Commercial Mortgage Commercial & Industrial Loans Consumer Loans Total Year Ended December 31,2019 (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 14,091 ( 1,496) ( 1,697) ( 13,696) 43,023 40,225 Charge-offs ( 22,742) ( 391) ( 15,088) ( 7,206) ( 52,160) ( 97,587) Recoveries 2,663 665 398 3,554 8,859 16,139 Ending balance $ 44,806 $ 2,370 $ 39,194 $ 15,198 $ 53,571 $ 155,139 Residential Mortgage Loans Construction Loans Commercial Mortgage Commercial & Industrial Loans Consumer Loans Total Year Ended December 31, 2018 (In thousands) Allowance for credit losses: Beginning balance $ 58,975 $ 4,522 $ 48,493 $ 48,871 $ 70,982 $ 231,843 Provision (release) for credit losses (2) 13,202 7,032 23,074 ( 8,440) 24,385 59,253 Charge-offs (2) ( 24,775) ( 8,296) ( 23,911) ( 9,704) ( 50,106) ( 116,792) Recoveries 3,392 334 7,925 1,819 8,588 22,058 Ending balance $ 50,794 $ 3,592 $ 55,581 $ 32,546 $ 53,849 $ 196,362 The tables below present the ACL related to loans and finance leases and the carrying values of loans by portfolio segment as of December 31, 2020 and December 31, 2019: As of December 31,2020 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 $ 3,521,954 $ 212,500 $ 2,230,602 $ 3,202,590 $ 2,609,643 $ 11,777,289 Allowance for credit losses 120,311 5,380 109,342 37,944 112,910 385,887 Allowance for credit losses to amortized cost 3.42 % 2.53 % 4.90 % 1.18 % 4.33 % 3.28 % 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 % ____________ The following table presents the activity in the ACL for unfunded loan commitments and standby letters of credit for the years ended December 31, 2020, 2019 and 2018: Year Ended December 31, 2020 2019 2018 (In thousands) Beginning Balance $ - $ 412 $ 676 Impact of adopting ASC 326 3,922 - - Provision (release) for credit losses 1,183 ( 412) ( 264) Ending balance $ 5,105 $ - $ 412 |
Financing Receivable Purchase With Credit Deterioration [Table Text Block] | The following table reconciles the difference between the purchase price of the PCD acquired loans in conjunction with the BSPR acquisition completed on September 1, 2020 and the par value: Residential Mortgage Construction Commercial Mortgage C&I Consumer Total (In thousands) Purchase price of loans at acquisition (initial fair value) $ 322,345 $ - $ 180,950 $ 194,572 $ 54,959 $ 752,826 ACL at acquisition 12,739 - 9,723 1,830 4,452 28,744 Non-credit discount (premium) at acquisition 3,075 - 2,783 ( 95) ( 1,284) 4,479 Par value of acquired loans at acquisition $ 338,159 $ - $ 193,456 $ 196,307 $ 58,127 $ 786,049 |
Collateral Pledged [Member] | |
Accounts, Notes, Loans and Financing 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 December 31, 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 100,950 9,582 7,145 108,095 9,582 Commercial loans: Construction loans 6,036 500 6,125 12,161 500 Commercial mortgage loans 17,882 1,923 49,241 67,123 1,923 C&I loans 21,933 880 24,728 46,661 880 Consumer loans: Auto loans - - - - - Finance leases - - - - - Personal loans 146 2 - 146 2 Credit cards - - - - - Other consumer loans 857 113 - 857 113 $ 147,804 $ 13,000 $ 87,239 $ 235,043 $ 13,000 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 6,224 988 2,400 8,624 988 Commercial loans: Construction loans - - - - - Commercial mortgage loans - - 2,327 2,327 - C&I loans - - 561 561 - Consumer loans: Auto loans - - - - - Finance leases - - - - - Personal loans - - - - - Credit cards - - - - - Other consumer loans 248 83 - 248 83 $ 6,472 $ 1,071 $ 5,288 $ 11,760 $ 1,071 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 107,174 10,570 9,545 116,719 10,570 Commercial loans: Construction loans 6,036 500 6,125 12,161 500 Commercial mortgage loans 17,882 1,923 51,568 69,450 1,923 C&I loans 21,933 880 25,289 47,222 880 Consumer loans: Auto loans - - - - - Finance leases - - - - - Personal loans 146 2 - 146 2 Credit cards - - - - - Other consumer loans 1,105 196 - 1,105 196 $ 154,276 $ 14,071 $ 92,527 $ 246,803 $ 14,071 |
AB Note Restructure Workout Strategy [Member] | |
Accounts, Notes, Loans and Financing 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 December 31, 2020, 2019, and 2018, and its effect on the ACL in 2020, 2019 and 2018: Year Ended December 31, 2020 (In thousands) Commercial Mortgage loans C&I loans Construction loans Total Beginning balance of A/B Notes $ 22,749 $ 26,596 $ 1,883 $ 51,228 New TDR loan splits - - - - Increase to existing TDRs - 738 - 738 Paid-off and partial payments ( 3,187) ( 284) ( 321) ( 3,792) Charge-offs ( 3,087) - - ( 3,087) Ending balance of A/B Notes $ 16,475 $ 27,050 $ 1,562 $ 45,087 Year Ended December 31, 2019 (In thousands) Commercial Mortgage loans C&I loans Construction loans Total Beginning balance of A/B Notes $ 3,003 $ 28,406 $ 2,431 $ 33,840 New TDR loan splits 20,059 - - 20,059 Increase to existing TDRs - - - - Paid-off and partial payments ( 313) ( 1,810) ( 548) ( 2,671) Charge-offs - - - - Ending balance of A/B Notes $ 22,749 $ 26,596 $ 1,883 $ 51,228 Year Ended December 31, 2018 (In thousands) Commercial Mortgage loans C&I loans Construction loans Total Beginning balance of A/B Notes $ 3,098 $ 32,479 $ - $ 35,577 New TDR loan splits 29,601 - 2,503 32,104 Increase to existing TDRs - - - - Paid-off and partial payments ( 29,696) ( 4,073) ( 72) ( 33,841) Charge-offs - - - - Ending balance of A/B Notes $ 3,003 $ 28,406 $ 2,431 $ 33,840 Year Ended December 31, 2020 (In thousands) Commercial Mortgage loans C&I loans Construction loans Total ACL at the beginning of the year for A/B Notes $ 3,516 $ 14 $ - $ 3,530 Impact of adopting ASC 326 ( 415) 89 - ( 326) (Releases) charges to the provision for credit losses ( 14) 298 - 284 Charge-offs ( 3,087) - - ( 3,087) ACL at the end of the year for A/B Notes $ - $ 401 $ - $ 401 Year Ended December 31, 2019 (In thousands) Commercial Mortgage loans C&I loans Construction loans Total ACL at the beginning of the year for A/B Notes $ - $ 473 $ - $ 473 Charges (releases) to the provision for credit losses 3,516 ( 459) - 3,057 Charge-offs - - - - ACL at the end of the year for A/B Notes $ 3,516 $ 14 $ - $ 3,530 Year Ended December 31, 2018 (In thousands) Commercial Mortgage loans C&I loans Construction loans Total ACL at the beginning of the year for A/B Notes $ - $ 3,846 $ - $ 3,846 (Releases) Charges to the provision for credit losses ( 7,416) ( 3,373) - ( 10,789) Net loan loss recoveries 7,416 - - 7,416 ACL at the end of the year for A/B Notes $ - $ 473 $ - $ 473 |
TDR | |
Accounts, Notes, Loans and Financing 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 December 31, 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 $ 17,740 $ 11,125 $ 211,155 $ - $ 223 $ 66,694 $ 306,937 Construction loans 21 1,700 1,516 - - 186 3,423 Commercial mortgage loans 1,491 1,380 35,714 - 16,473 6,765 61,823 C&I loans 238 12,267 14,119 - 17,890 35,744 80,258 Consumer loans: Auto loans - 474 4,863 - - 6,112 11,449 Finance leases - 15 588 - - 541 1,144 Personal loans 58 9 571 - - 286 924 Credit cards - - 2,342 16 - - 2,358 Other consumer loans 1,602 991 572 193 - 343 3,701 Total TDRs in Puerto Rico and Virgin Islands region $ 21,150 $ 27,961 $ 271,440 $ 209 $ 34,586 $ 116,671 $ 472,017 As of December 31, 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 $ 989 $ 401 $ 2,257 $ - $ - $ 22 $ 3,669 Construction loans - - - - - - - Commercial mortgage loans - 834 1,781 - - - 2,615 C&I loans - - - - - 224 224 Consumer loans: Auto loans - 55 15 - - - 70 Finance leases - - - - - - - Personal loans - - - - - - - Credit cards - - - - - - - Other consumer loans 37 - 172 - - 392 601 Total TDRs in Florida Region $ 1,026 $ 1,290 $ 4,225 $ - $ - $ 638 $ 7,179 As of December 31, 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 $ 18,729 $ 11,526 $ 213,412 $ - $ 223 $ 66,716 $ 310,606 Construction loans 21 1,700 1,516 - - 186 3,423 Commercial mortgage loans 1,491 2,214 37,495 - 16,473 6,765 64,438 C&I loans 238 12,267 14,119 - 17,890 35,968 80,482 Consumer loans: Auto loans - 529 4,878 - - 6,112 11,519 Finance leases - 15 588 - - 541 1,144 Personal loans 58 9 571 - - 286 924 Credit cards - - 2,342 16 - - 2,358 Other consumer loans 1,639 991 744 193 - 735 4,302 Total TDRs $ 22,176 $ 29,251 $ 275,665 $ 209 $ 34,586 $ 117,309 $ 479,196 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 C&I 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 TDRs in Puerto Rico and Virgin Islands 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 C&I loans - - - - - 315 315 Consumer loans: Auto loans - 97 19 - - - 116 Finance leases - - - - - - - Personal loans - - - - - - - Credit cards - - - - - - - Other consumer loans 39 - 183 - - 538 760 Total TDRs 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 C&I 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 TDRs $ 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: Year Ended Year Ended Year Ended December 31,2020 December 31,2019 December 31, 2018 (In thousands) Beginning balance of TDRs $ 487,997 $ 582,647 $ 587,219 New TDRs 36,319 63,433 171,857 Increases to existing TDRs 6,009 1,840 7,027 Charge-offs post-modification (1) ( 11,122) ( 10,342) ( 27,951) Foreclosures ( 2,015) ( 12,872) ( 21,591) TDRs transferred to held for sale, net of charge-offs - - ( 34,541) Paid-off, partial payments and other (2) ( 37,992) ( 136,709) ( 99,373) Ending balance of TDRs $ 479,196 $ 487,997 $ 582,647 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: December 31, 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 $ 253,421 $ 53,516 $ 306,937 $ 3,358 $ 311 $ 3,669 $ 256,779 $ 53,827 $ 310,606 Construction loans 2,480 943 3,423 - - - 2,480 943 3,423 Commercial mortgage loans 43,012 18,811 61,823 2,615 - 2,615 45,627 18,811 64,438 C&I loans 73,649 6,609 80,258 - 224 224 73,649 6,833 80,482 Consumer loans: Auto loans 6,481 4,968 11,449 70 - 70 6,551 4,968 11,519 Finance leases 1,125 19 1,144 - - - 1,125 19 1,144 Personal loans 920 4 924 - - - 920 4 924 Credit Cards 2,358 - 2,358 - - - 2,358 - 2,358 Other consumer loans 3,274 427 3,701 564 37 601 3,838 464 4,302 Total TDRs $ 386,720 $ 85,297 $ 472,017 $ 6,607 $ 572 $ 7,179 $ 393,327 $ 85,869 $ 479,196 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 C&I 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 TDRs $ 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 2020, 2019 and 2018 were as follows: Year Ended December 31, 2020 Puerto Rico and Virgin Islands 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 103 $ 9,027 $ 8,307 - $ - $ - 103 $ 9,027 $ 8,307 Construction loans - - - - - - - - - Commercial mortgage loans 5 824 824 - - - 5 824 824 C&I loans 14 22,544 22,524 - - - 14 22,544 22,524 Consumer loans: Auto loans 163 2,635 2,623 - - - 163 2,635 2,623 Finance leases 29 408 408 - - - 29 408 408 Personal loans 30 306 305 - - - 30 306 305 Credit Cards 159 783 783 - - - 159 783 783 Other consumer loans 144 590 522 1 23 23 145 613 545 Total TDRs 647 $ 37,117 $ 36,296 1 $ 23 $ 23 648 $ 37,140 $ 36,319 Year Ended December 31, 2019 Puerto Rico and Virgin Islands 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 118 $ 14,606 $ 14,084 - $ - $ - 118 $ 14,606 $ 14,084 Construction loans 4 118 117 - - - 4 118 117 Commercial mortgage loans 13 40,988 38,750 - - - 13 40,988 38,750 C&I loans 14 1,754 1,750 - - - 14 1,754 1,750 Consumer loans: Auto loans 253 4,168 4,121 3 33 33 256 4,201 4,154 Finance leases 42 804 801 - - - 42 804 801 Personal loans 53 502 499 - - - 53 502 499 Credit Cards 153 800 800 - - - 153 800 800 Other consumer loans 656 2,411 2,478 - - - 656 2,411 2,478 Total TDRs 1,306 $ 66,151 $ 63,400 3 $ 33 $ 33 1,309 $ 66,184 $ 63,433 Year Ended December 31, 2018 Puerto Rico and Virgin Islands 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 104 $ 14,827 $ 14,159 - $ - $ - 104 $ 14,827 $ 14,159 Construction loans 2 684 655 - - - 2 684 655 Commercial mortgage loans 11 138,994 138,785 - - - 11 138,994 138,785 C&I loans 10 9,141 8,786 - - - 10 9,141 8,786 Consumer loans: Auto loans 267 4,229 4,218 18 271 271 285 4,500 4,489 Finance leases 48 1,001 987 - - - 48 1,001 987 Personal loans 54 605 603 - - - 54 605 603 Credit Cards 203 1,193 1,193 - - - 203 1,193 1,193 Other consumer loans 511 2,137 2,200 - - - 511 2,137 2,200 Total TDRs 1,210 $ 172,811 $ 171,586 18 $ 271 $ 271 1,228 $ 173,082 $ 171,857 Loan modifications considered TDR loans that defaulted during the years ended December 31, 2020, 2019, and 2018, and had become TDR loans during the 12-months preceding the default date, were as follows: Year Ended December 31, 2020 2019 2018 Puerto Rico and Virgin Islands region Number of contracts Amortized Cost Number of contracts Amortized Cost Number of contracts Amortized Cost (Dollars in thousands) Conventional residential mortgage loans 10 $ 2,380 11 $ 2,019 15 $ 1,994 Construction loans - - - - - - Commercial mortgage loans - - - - - - C&I loans 3 124 - - - - Consumer loans: Auto loans 55 947 130 2,221 62 1,003 Finance leases 1 5 1 14 1 22 Personal loans 1 7 1 9 2 26 Credit cards 47 228 - - - - Other consumer loans 58 209 77 238 54 180 Total Puerto Rico and Virgin Islands region 175 $ 3,900 220 $ 4,501 134 $ 3,225 Year Ended December 31, 2020 2019 2018 Florida region Number of contracts Amortized Cost Number of contracts Amortized Cost Number of contracts Amortized Cost (Dollars in thousands) Conventional residential mortgage loans - $ - - $ - - $ - Construction loans - - - - - - Commercial mortgage loans - - - - - - C&I loans - - - - - - Consumer loans: Auto loans - - - - - - Finance leases - - - - - - Personal loans - - - - - - Credit cards - - - - - - Other consumer loans - - - - - - Total in Florida region - $ - - $ - - $ - Year Ended December 31, 2020 2019 2018 Total Number of contracts Amortized Cost Number of contracts Amortized Cost Number of contracts Amortized Cost (Dollars in thousands) Conventional residential mortgage loans 10 $ 2,380 11 $ 2,019 15 $ 1,994 Construction loans - - - - - - Commercial mortgage loans - - - - - - C&I loans 3 124 - - - - Consumer loans: Auto loans 55 947 130 2,221 62 1,003 Finance leases 1 5 1 14 1 22 Personal loans 1 7 1 9 2 26 Credit cards 47 228 - - - - Other consumer loans 58 209 77 238 54 180 Total 175 $ 3,900 220 $ 4,501 134 $ 3,225 |
ALLOWANCE FOR CREDIT LOSSES O_2
ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LEASES (Tables) | 12 Months Ended |
Dec. 31, 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 indicated periods: Residential Mortgage Loans Construction Loans Commercial Mortgage Commercial & Industrial Loans Consumer Loans Total Year Ended December 31,2020 (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 (1) 22,427 2,105 81,125 6,627 56,433 168,717 Charge-offs ( 11,017) ( 76) ( 3,330) ( 3,634) ( 46,483) ( 64,540) Recoveries 1,519 184 1,936 3,192 9,831 16,662 Ending balance $ 120,311 $ 5,380 $ 109,342 $ 37,944 $ 112,910 $ 385,887 Residential Mortgage Loans Construction Loans Commercial Mortgage Commercial & Industrial Loans Consumer Loans Total Year Ended December 31,2019 (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 14,091 ( 1,496) ( 1,697) ( 13,696) 43,023 40,225 Charge-offs ( 22,742) ( 391) ( 15,088) ( 7,206) ( 52,160) ( 97,587) Recoveries 2,663 665 398 3,554 8,859 16,139 Ending balance $ 44,806 $ 2,370 $ 39,194 $ 15,198 $ 53,571 $ 155,139 Residential Mortgage Loans Construction Loans Commercial Mortgage Commercial & Industrial Loans Consumer Loans Total Year Ended December 31, 2018 (In thousands) Allowance for credit losses: Beginning balance $ 58,975 $ 4,522 $ 48,493 $ 48,871 $ 70,982 $ 231,843 Provision (release) for credit losses (2) 13,202 7,032 23,074 ( 8,440) 24,385 59,253 Charge-offs (2) ( 24,775) ( 8,296) ( 23,911) ( 9,704) ( 50,106) ( 116,792) Recoveries 3,392 334 7,925 1,819 8,588 22,058 Ending balance $ 50,794 $ 3,592 $ 55,581 $ 32,546 $ 53,849 $ 196,362 The tables below present the ACL related to loans and finance leases and the carrying values of loans by portfolio segment as of December 31, 2020 and December 31, 2019: As of December 31,2020 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 $ 3,521,954 $ 212,500 $ 2,230,602 $ 3,202,590 $ 2,609,643 $ 11,777,289 Allowance for credit losses 120,311 5,380 109,342 37,944 112,910 385,887 Allowance for credit losses to amortized cost 3.42 % 2.53 % 4.90 % 1.18 % 4.33 % 3.28 % 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 % ____________ The following table presents the activity in the ACL for unfunded loan commitments and standby letters of credit for the years ended December 31, 2020, 2019 and 2018: Year Ended December 31, 2020 2019 2018 (In thousands) Beginning Balance $ - $ 412 $ 676 Impact of adopting ASC 326 3,922 - - Provision (release) for credit losses 1,183 ( 412) ( 264) Ending balance $ 5,105 $ - $ 412 |
LOANS HELD FOR SALE (Tables)
LOANS HELD FOR SALE (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Receivables Held-for-sale [Abstract] | |
Portfolio of Loans Held for Sale [Table Text Block] | The Corporation’s loans held-for-sale portfolio as of the dates indicated was composed of: December 31, 2020 2019 (In thousands) Residential mortgage loans $ 50,289 $ 39,477 |
OTHER REAL ESTATE OWNED (Tables
OTHER REAL ESTATE OWNED (Tables) | 12 Months Ended |
Dec. 31, 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 OREO inventory as of the dates indicated: December 31, (In thousands) 2020 2019 OREO OREO balances, carrying value: Residential (1) $ 32,418 $ 46,912 Commercial 44,356 47,271 Construction 6,286 7,443 Total $ 83,060 $ 101,626 |
RELATED PARTY TRANSACTIONS (Tab
RELATED PARTY TRANSACTIONS (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Related Party Transactions [Abstract] | |
Schedule of Related Party Transactions [Table Text Block] | The Corporation granted loans to its directors, executive officers, and certain related individuals or entities in the ordinary course of business. The movement and balance of these loans were as follows: Amount (In thousands) Balance at December 31, 2018 $ 1,024 New loans 154 Payments ( 146) Other changes - Balance at December 31, 2019 1,032 New loans 425 Payments ( 953) Other changes - Balance at December 31, 2020 $ 504 |
PREMISES AND EQUIPMENT (Tables)
PREMISES AND EQUIPMENT (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Property Plant And Equipment [Abstract] | |
Premises and Equipment [Table Text Block] | Premises and equipment comprise: Useful Life In Years As of December 31, Minimum Maximum 2020 2019 (Dollars in thousands) Buildings and improvements 10 35 $ 138,686 $ 135,263 Leasehold improvements 1 10 82,034 56,530 Furniture and equipment 2 10 224,623 146,835 445,343 338,628 Accumulated depreciation and amortization ( 318,659) ( 228,712) 126,684 109,916 Land 23,873 22,939 Projects in progress 7,652 17,134 Total premises and equipment, net $ 158,209 $ 149,989 |
GOODWILL AND OTHER INTANGIBLES
GOODWILL AND OTHER INTANGIBLES (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Goodwill and other Intangible Assets [Abstract] | |
Schedule of Expected Amortization Expense [Table Text Block] | The estimated aggregate annual amortization expense related to the intangible assets for future periods was as follows as of December 31, 2020: Amount (In thousands) 2021 $ 11,293 2022 8,731 2023 7,651 2024 6,346 2025 3,469 2026 and after 3,403 |
Schedule of Goodwill [Table Text Block] | Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Banking United States Operations Total (In thousands) Goodwill, January 1, 2020 $ - $ - $ - $ 28,098 $ 28,098 Merger and acquisitions 574 794 4,935 - 6,303 Adjustments 385 533 3,313 - 4,231 Goodwill, December 31, 2020 $ 959 $ 1,327 $ 8,248 $ 28,098 $ 38,632 |
NON-CONSOLIDATED VARIABLE INT_2
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Transfers and Servicing [Abstract] | |
Changes in Servicing Assets [Table Text Block] | The changes in MSRs are shown below for the indicated periods: Year Ended December 31, 2020 2019 2018 (In thousands) Balance at beginning of year $ 26,762 $ 27,428 $ 25,255 Purchases of servicing assets (1) 7,781 - - Capitalization of servicing assets 4,864 4,039 3,864 Amortization ( 5,777) ( 4,592) ( 2,895) Temporary impairment (charges) recoveries, net ( 206) ( 43) 1,289 Other (2) ( 353) ( 70) ( 85) Balance at end of year $ 33,071 $ 26,762 $ 27,428 |
Changes in Impairment Allowance [Table Text Block] | Changes in the impairment allowance were as follows for the indicated periods: Year Ended December 31, 2020 2019 2018 (In thousands) Balance at beginning of year $ 73 $ 30 $ 1,451 Temporary impairment charges 301 78 123 OTTI of servicing assets ( 77) - ( 132) Recoveries ( 95) ( 35) ( 1,412) Balance at end of year $ 202 $ 73 $ 30 |
Components of Net Servicing Income [Table Text Block] | The components of net servicing income, included as part of mortgage banking activities in the consolidated statements of income, are shown below for the indicated periods: Year Ended December 31, 2020 2019 2018 (In thousands) Servicing fees $ 9,268 $ 8,522 $ 8,704 Late charges and prepayment penalties 570 610 510 Adjustment for loans repurchased (1) ( 353) ( 70) ( 85) Other - ( 15) ( 8) Servicing income, gross 9,485 9,047 9,121 Amortization and impairment of servicing assets ( 5,983) ( 4,635) ( 1,606) Servicing income, net $ 3,502 $ 4,412 $ 7,515 |
Key Economic Assumptions Used in Determining Fair Value at Time of Sale of Loans [Table Text Block] | The Corporation’s MSRs are subject to prepayment and interest rate risks. Key economic assumptions used in determining the fair value at the time of sale of the related mortgages ranged as follows for the indicated periods: Maximum Minimum Year Ended December 31, 2020 Constant prepayment rate: Government-guaranteed mortgage loans 6.5 % 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 % 13.7 % Year Ended December 31, 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 % Year Ended December 31, 2018 Constant prepayment rate: Government-guaranteed mortgage loans 6.0 % 5.6 % Conventional conforming mortgage loans 6.5 % 6.2 % Conventional non-conforming mortgage loans 10.3 % 9.1 % 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 [Table Text Block] | The weighted-averages of the key economic assumptions that the Corporation used in its valuation model and the sensitivity of the current fair value to immediate 10% and 20% adverse changes in those assumptions for mortgage loans as of December 31, 2020 and 2019 were as follows: December 31, December 31, 2020 2019 (In thousands) Carrying amount of servicing assets $ 33,071 $ 26,762 Fair value $ 40,294 $ 31,027 Weighted-average expected life (in years) 7.86 8.39 Constant prepayment rate (weighted-average annual rate) 6.73 % 6.45 % Decrease in fair value due to 10% adverse change $ 1,006 $ 748 Decrease in fair value due to 20% adverse change $ 1,970 $ 1,464 Discount rate (weighted-average annual rate) 11.20 % 11.27 % Decrease in fair value due to 10% adverse change $ 1,772 $ 1,450 Decrease in fair value due to 20% adverse change $ 3,409 $ 2,783 |
DEPOSITS (Tables)
DEPOSITS (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Deposits [Abstract] | |
Summary of Deposit Balances [Table Text Block] | The following table summarizes deposit balances as of the dates indicated: December 31, 2020 2019 (In thousands) Type of account and interest rate: Non-interest-bearing deposit accounts $ 4,546,123 $ 2,367,856 Interest-bearing savings accounts - 0.05% to 1.40% (2019- 0.05% to 2.00%) 4,088,969 2,437,345 Interest-bearing checking accounts - 0.05% to 1.75% (2019- 0.05% to 1.00%) 3,651,806 1,412,390 Certificates of deposit ("CDs")- 0.10% to 4.75% (2019- 0.10% to 4.00%) 2,814,313 2,695,749 Brokered CDs- 0.85% to 2.75% (2019- 1.20% to 3.00%) 216,172 435,089 $ 15,317,383 $ 9,348,429 |
Schedule of contractual maturities of CDs | The following table presents the contractual maturities of CDs, including brokered CDs, as of December 31, 2020: Total (In thousands) Three months or less $ 658,417 Over three months to six months 527,542 Over six months to one year 779,370 Over one year to two years 594,688 Over two years to three years 252,014 Over three years to four years 135,653 Over four years to five years 68,260 Over five years 14,541 Total $ 3,030,485 |
Brokered Certificates Of Deposit Mature [Table Text Block] | Brokered CDs mature as follows: December 31, 2020 (In thousands) Three months or less $ 54,118 Over three months to six months 24,502 Over six months to one year 37,287 Over one year to three years 77,953 Over three years to five years 22,312 Total $ 216,172 |
Schedule of Interest Expenses on Deposits [Table Text Block] | A table showing interest expense on deposits for the indicated periods follows: Year Ended December 31, 2020 2019 2018 (In thousands) Interest-bearing checking accounts $ 5,933 $ 6,071 $ 5,208 Savings 11,116 16,017 14,298 CDs 43,350 44,658 33,652 Brokered CDs 7,989 11,036 14,493 Total $ 68,388 $ 77,782 $ 67,651 |
SECURITIES SOLD UNDER AGREEME_2
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of Repurchase Agreements [Abstract] | |
Schedule Of Repurchase Agreements [Table Text Block] | Securities sold under agreements to repurchase (repurchase agreements) as of the dates indicated consisted of the following: December 31, 2020 2019 (In thousands) Long-term repurchase agreement (1)(2) $ 300,000 $ 100,000 Repurchase agreements mature as follows as of the indicated date: December 31,2020 (In thousands) One year to three years $ 100,000 Three to five years 200,000 Total $ 300,000 Weighted-Average (Dollars in thousands) Amount Maturity (In Months) Counterparty JP Morgan Chase $ 100,000 13 Credit Suisse First Boston 200,000 49 $ 300,000 |
Schedule of Securities Sold Under Repurchase Agreements [Table Text Block] | The following securities were sold under agreements to repurchase: As of December 31, 2020 Amortized Approximate Weighted Cost of Fair Value Average Underlying Balance of of Underlying Interest Rate Underlying Securities Securities Borrowing Securities of Security (Dollars in thousands) U.S. government-sponsored agencies $ 12,219 $ 11,013 $ 12,351 1.94 % MBS 320,640 288,987 329,438 1.65 % Total $ 332,859 $ 300,000 $ 341,789 Accrued interest receivable $ 753 As of December 31, 2019 Amortized Approximate Weighted Cost of Fair Value Average Underlying Balance of of Underlying Interest Rate Underlying Securities Securities Borrowing Securities of Security (Dollars in thousands) U.S. government-sponsored agencies $ 13,776 $ 4,723 $ 13,768 1.53 % MBS 115,630 95,277 116,397 2.31 % Total $ 129,406 $ 100,000 $ 130,165 Accrued interest receivable $ 347 |
ADVANCES FROM THE FEDERAL HOM_2
ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Federal Home Loan Bank, Advances, Fixed Rate [Abstract] | |
Summary of Advances from FHLB [Table Text Block] | The following is a summary of the advances from the FHLB as of the indicated dates: December 31, December 31, 2020 2019 (In thousands) Short-term Fixed -rate advances from FHLB (1) $ - $ 35,000 Long-term Fixed -rate advances from FHLB (2) 440,000 535,000 $ 440,000 $ 570,000 Advances from FHLB mature as follows as of the indicated date: December 31, 2020 (In thousands) Over three to six months $ 120,000 Over six months to one year 120,000 Over one to three years 200,000 Total $ 440,000 |
OTHER BORROWINGS (Tables)
OTHER BORROWINGS (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Subordinated Borrowings [Abstract] | |
Components of Other Borrowings [Table Text Block] | Other borrowings, as of the indicated dates, consisted of: December 31, December 31, (In thousands) 2020 2019 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 |
EARNINGS PER COMMON SHARE (Tabl
EARNINGS PER COMMON SHARE (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Earnings Per Share [Abstract] | |
Calculations of Earnings Per Common Share [Table Text Block] | The calculations of earnings per common share for the years ended December 31, 2020, 2019, and 2018 are as follows: Year Ended December 31, 2020 2019 2018 (In thousands, except per share information) Net income $ 102,273 $ 167,377 $ 201,608 Less: Preferred stock dividends ( 2,676) ( 2,676) ( 2,676) Net income attributable to common stockholders $ 99,597 $ 164,701 $ 198,932 Weighted-Average Shares: Average common shares outstanding 216,904 216,614 215,709 Average potential dilutive common shares 764 520 968 Average common shares outstanding - assuming dilution 217,668 217,134 216,677 Earnings per common share: Basic $ 0.46 $ 0.76 $ 0.92 Diluted $ 0.46 $ 0.76 $ 0.92 |
STOCK-BASED COMPENSATION (Table
STOCK-BASED COMPENSATION (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Restricted Stock Activity Under Omnibus Plan [Table Text Block] | The following table summarizes the restricted stock activity in 2020 under the Omnibus Plan: 2020 Number of Weighted- shares of Average restricted Grant Date stock Fair Value Unvested shares outstanding at beginning of year 644,805 $ 8.51 Granted 911,470 4.16 Forfeited ( 3,086) 6.07 Vested ( 232,466) 7.23 Unvested shares outstanding at end of year 1,320,723 $ 5.74 The following table summarizes the performance units activity during 2020 under the Omnibus Plan: Year Ended (Number of units) December 31, 2020 Performance units at beginning of year 504,461 Additions 502,307 Performance units at December 31, 2020 1,006,768 |
EMPLOYEE BENEFIT PLANS (Tables)
EMPLOYEE BENEFIT PLANS (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Employees' Benefit Plan [Abstract] | |
Schedule Of Changes In Projected Benefit Obligation And Changes In Plan Assets [Table Text Block] | Year Ended December 31, 2020 Pension Plans Postretirement Benefit Plan (In thousands) Changes in projected benefit obligation: Projected benefit obligation, September 1 $ 107,571 $ 235 Interest cost 900 2 Actuarial loss (1) 1,321 28 Benefits paid ( 1,539) ( 20) Projected benefit obligation, December 31 $ 108,253 $ 245 Changes in plan assets: Fair value of plan assets, September 1 $ 104,522 $ - Actual return on plan assets 2,980 - Benefits paid ( 1,539) - Fair value of plan assets at the end of period 105,963 - Net benefit obligation $ ( 2,290) $ ( 245) (1) Significant components of the Pension Plans’ actuarial loss that changed the benefit obligation were mainly related to updates in discount and mortality rates. |
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | The following are the pre-tax amounts recognized in accumulated other comprehensive loss: Year Ended December 31, 2020 Pension Plans Postretirement Benefit Plan (In thousands) Net actuarial loss $ 404 $ 28 Net amount recognized $ 404 $ 28 |
Schedule of Net Benefit Costs [Table Text Block] | Period from September 1, 2020 to December 31, 2020 Location Pension Plans Postretirement Benefit Plan (Dollars in thousands) Net periodic benefit (income) loss: Interest cost Other expenses $ 900 $ 2 Expected return on plan assets Other expenses ( 2,062) - Net periodic benefit (income) loss ( 1,162) 2 Pre-tax amounts recognized in OCI: Net actuarial loss 404 28 Net amount recognized in OCI 404 28 Total net periodic pension (income) loss recognized in total comprehensive income, pre-tax $ ( 758) $ 30 Weighted average assumptions used to determine net periodic pension cost: Discount rate 2.36 % 2.44 % Expected return on plan assets 5.99 % N/A % |
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | The following presents the changes in accumulated other comprehensive loss of the Pension Plans and Postretirement Benefit Plan as of December 31, 2020: Year ended December 31, 2020 Pension Plans Postretirement Benefit Plan (In thousands) Accumulated other comprehensive loss at beginning of period $ - $ - Net actuarial loss 404 28 Total increase in other comprehensive loss 404 28 Accumulated other comprehensive loss at end of period $ 404 $ 28 |
Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets [Table Text Block] | The following table presents information for the plans with a projected benefit obligation and accumulated benefit obligation in excess of plan assets for the year ended December 31, 2020: Pension Plans Postretirement Benefit Plan (In thousands) Projected benefit obligation $ 70,179 $ 245 Accumulated benefit obligation 70,179 245 Fair value of plan assets 64,200 - |
Schedule of Allocation of Plan Assets [Table Text Block] | The Pension Plans weighted-average asset allocations as of December 31, 2020 by asset category are as follows: December 31, 2020 Asset category Equity securities 0% Debt securities 0% Investment in funds 98% Other 2% 100% |
Schedule of Expected Benefit Payments [Table Text Block] | Pension Plans Postretirement Benefit Plan (Dollars in thousands) 2021 $ 6,415 $ 57 2022 6,935 47 2023 6,862 38 2024 6,793 30 2025 6,299 24 2026 through 2030 28,944 58 $ 62,248 $ 254 |
OTHER NON- INTEREST EXPENSES (T
OTHER NON- INTEREST EXPENSES (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Other Non Interest Expenses [Abstract] | |
Schedule of other non interest expenses [Table Text Block] | A detail of other non-interest expenses is as follows for the indicated periods: Year Ended December 31, 2020 2019 2018 (In thousands) Supplies and printing $ 2,391 $ 1,966 $ 2,177 Amortization of intangible assets 5,912 3,086 3,593 Servicing and processing fees 4,696 4,781 4,991 Insurance and supervisory fees 6,324 3,596 4,602 Provision for operational losses 3,390 2,164 1,836 Other 3,105 4,640 5,140 Total $ 25,818 $ 20,233 $ 22,339 |
OTHER NON- INTEREST INCOME (Tab
OTHER NON- INTEREST INCOME (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Other Non-interest Income [Abstract] | |
Schedule of other non interest income [Table Text Block] | A detail of other non-interest income is as follows for the indicated periods: Year Ended December 31, 2020 2019 2018 (In thousands) Non-deferrable loan fees $ 3,750 $ 2,789 $ 2,384 Merchant-related income 5,844 5,635 5,244 ATM and POS fees 7,723 9,147 9,515 Credit and debit card interchange and other fees 12,042 11,759 9,598 Mail and cable transmission commissions 2,540 2,207 2,101 Fair value adjustments and gain (losses) on sales of commercial and construction loans held for sale - 2,316 ( 3,186) Gain (loss) from sales of fixed-assets 215 ( 242) 1,366 Gain from insurance proceeds 5,000 660 537 Other 4,720 5,638 5,183 Total $ 41,834 $ 39,909 $ 32,742 |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The components of income tax expense (benefit) are summarized below for the indicated periods: Year Ended December 31, 2020 2019 2018 (In thousands) Current income tax expense $ 18,421 $ 16,986 $ 14,073 Deferred income tax expense (benefit): Adjustment for enacted changes in tax law - - 15,402 Reversal of deferred tax asset valuation allowance ( 8,000) - ( 63,228) Other deferred income tax expense 3,629 55,009 22,783 Total income tax expense (benefit) $ 14,050 $ 71,995 $ ( 10,970) |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | The differences between the income tax expense applicable to income before the provision for income taxes and the amount computed by applying the statutory tax rate in Puerto Rico were as follows for the indicated periods: Year Ended December 31, 2020 2019 2018 Amount % of Pretax Income Amount % of Pretax Income Amount % of Pretax Income (Dollars in thousands) Computed income tax at statutory rate $ 43,621 37.5 % $ 89,764 37.5 % $ 74,349 39.0 % Federal and state taxes 4,944 4.2 % 4,467 1.6 % 3,768 2.0 % Benefit of net exempt income ( 26,780) ( 23.0) % ( 24,811) ( 10.4) % ( 22,782) ( 12.0) % Disallowed NOL carryforward resulting from net exempt income 9,054 7.8 % 15,887 6.6 % 14,904 7.8 % Deferred tax valuation allowance ( 12,095) ( 10.4) % ( 14,108) ( 5.9) % ( 90,521) ( 47.5) % Adjustments in net deferred tax assets due to changes in enacted tax rates - - % - - % 15,402 8.1 % Share-based compensation windfall 157 0.1 % ( 1,165) ( 0.5) % ( 1,595) ( 0.8) % Nondeductible expenses and other permanent differences ( 387) ( 0.3) % ( 1,712) ( 0.7) % ( 839) ( 0.4) % Tax return to provision adjustments 597 0.5 % 1,846 0.8 % 4 - % Other-net ( 5,061) ( 4.3) % 1,827 1.1 % ( 3,660) ( 1.9) % Total income tax expense (benefit) $ 14,050 12.1 % $ 71,995 30.1 % $ ( 10,970) ( 5.7) % |
Schedule of significant components Deferred Tax Assets and Liabilities [Table Text Block] | Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and their tax bases. Significant components of the Corporation's deferred tax assets and liabilities as of December 31, 2020 and 2019 were as follows: December 31, 2020 2019 (In thousands) Deferred tax asset: NOL carryforward $ 220,496 $ 259,717 Allowance for credit losses 151,586 58,793 Alternative Minimum Tax credits available for carryforward 27,396 13,813 Unrealized loss on OREO valuation 13,426 13,963 Settlement payment-closing agreement 7,031 7,031 Legal and other reserves 4,120 2,791 Reserve for insurance premium cancellations 941 613 Differences between the assigned values and tax bases of assets and liabilities recognized in purchase business combinations 11,956 - Other 8,647 9,722 Total gross deferred tax assets $ 445,599 $ 366,443 Deferred tax liabilities: Differences between the assigned values and tax bases of assets and liabilities recognized in purchase business combinations - 3,823 Servicing assets 9,571 8,906 Unrealized gain on available-for-sale securities, net 4,730 1,808 Other 53 511 Total gross deferred tax liabilities 14,354 15,048 Valuation allowance ( 101,984) ( 86,553) Net deferred tax asset $ 329,261 $ 264,842 |
OTHER COMPREHENSIVE INCOME (L_2
OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 12 Months Ended |
Dec. 31, 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 years ended December 31, 2020, 2019 and 2018: Changes in Accumulated Other Comprehensive Income (Loss) by Component (1) Year ended December 31, 2020 2019 2018 (In thousands) Unrealized net holding gains (losses) on debt securities: Beginning balance $ 6,764 $ ( 40,415) $ ( 20,609) Other comprehensive income (loss) 48,961 47,179 ( 19,806) Ending balance $ 55,725 $ 6,764 $ ( 40,415) Unrealized holding losses on equity securities: Beginning balance $ - $ - $ ( 6) Reclassification to retained earnings per ASU 2016-01 - - 6 Ending balance $ - $ - $ - Adjustment of pension and postretirement benefit plans: Beginning balance $ - $ - $ - Other comprehensive loss ( 270) - - Ending balance $ ( 270) $ - $ - ______________________ (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) for the years ended December 31, 2020, 2019 and 2018: Reclassifications Out of Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Consolidated Statements of Income Year ended December 31, 2020 2019 2018 (In thousands) Unrealized net holding gains (losses) on debt securities: Realized (gain) loss on sale Net gain (loss) on of debt securities investments securities $ ( 13,198) $ - $ 34 Provision for credit losses Provision for credit losses 1,641 - - OTTI on debt securities (1) Net gain (loss) on investment securities - ( 497) 50 Total before tax $ ( 11,557) $ ( 497) $ 84 Income tax expense (benefit) - - - Total, net of tax $ ( 11,557) $ ( 497) $ 84 |
LEASES (Tables)
LEASES (Tables) | 12 Months Ended |
Dec. 31, 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 indicated dates was as follows: As of As of December 31, December 31, 2020 2019 (Dollars in thousands) ROU asset $ 103,186 $ 61,327 Operating lease liability $ 106,502 $ 64,259 Operating lease weighted-average remaining lease term (in years) 8.5 10.8 Operating lease weighted-average discount rate 2.25% 3.29% Supplemental cash flow information related to leases is as follows: Year Ended Year Ended December 31, December 31, 2020 2019 (In thousands) Operating cash flow from operating leases (1) $ 13,464 $ 10,219 ROU assets obtained in exchange for operating lease liabilities (2) 1,328 10,762 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Maturities under lease liabilities as of December 31, 2020, were as follows: Amount (In thousands) 2021 $ 19,062 2022 17,945 2023 16,018 2024 14,507 2025 13,363 2026 and later years 37,783 Total lease payments 118,678 Less: imputed interest ( 12,176) Total present value of lease liability $ 106,502 |
FAIR VALUE (Tables)
FAIR VALUE (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value on Recurring Basis [Table Text Block] | Assets and liabilities measured at fair value on a recurring basis are summarized below as of December 31, 2020 and 2019: As of December 31,2020 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 $ 7,507 $ - $ - $ 7,507 $ 7,479 $ - $ - $ 7,479 Noncallable U.S. agencies debt securities - 173,371 - 173,371 - 146,777 - 146,777 Callable U.S. agencies debt securities and MBS - 4,454,164 - 4,454,164 - 1,950,331 - 1,950,331 Puerto Rico government obligations - - 2,899 2,899 - 4,348 2,974 7,322 Private label MBS - - 8,428 8,428 - - 11,116 11,116 Other investments - - 650 650 - - 500 500 Equity securities 1,474 - - 1,474 1,428 - - 1,428 Derivatives, included in assets: Interest rate swap agreements - 1,622 - 1,622 - - - - Purchased interest rate cap agreements - 1 - 1 - 11 - 11 Forward contracts - 102 - 102 - - - - Interest rate lock commitments - 737 - 737 - 341 - 341 Forward loan sales commitments - 20 - 20 - 20 - 20 Liabilities: Derivatives, included in liabilities: Interest rate swap agreements - 1,639 - 1,639 - - - - Written interest rate cap agreements - 1 - 1 - 11 - 11 Forward contracts - 280 - 280 - 138 - 138 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | The tables below present qualitative information for significant assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as of December 31, 2020 and 2019: December 31,2020 Fair Value Valuation Technique Unobservable Input Range Weighted Average (Dollars in thousands) Minimum Maximum Investment securities available-for-sale: Private label MBS $ 8,428 Discounted cash flows Discount rate 12.2% 12.2% 12.2% Prepayment rate 1.2% 18.8% 12.1% Projected Cumulative Loss Rate 2.6% 22.3% 10.2% Puerto Rico government obligations 2,899 Discounted cash flows Discount rate 7.9% 7.9% 7.9% Projected Cumulative Loss Rate 12.4% 12.4% 12.4% 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 years ended December 31, 2020, 2019 and 2018 for Level 3 assets and liabilities that were still held at the end of each year: Changes in Unrealized Losses Year Ended December 31, 2020 2019 2018 Level 3 Instruments Only 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) $ ( 50) Provision for credit losses (2) ( 1,641) - - Total $ ( 1,641) $ ( 497) $ ( 50) |
Impairment or Valuation Adjustments were Recorded for Assets Recognized at Fair Value [Table Text Block] | As of December 31, 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 December 31, 2020 Losses recorded for the Year Ended December 31, 2020 Level 1 Level 2 Level 3 (In thousands) Loans receivable (1) $ - $ - $ 246,803 $ ( 5,675) OREO (2) - - 83,060 ( 1,970) As of December 31,2019, the Corporation recorded losses or valuation adjustments for assets recognized at fair value on a non-recurring basis as shown in the following table: Carrying value as of December 31, 2019 Losses recorded for the Year Ended December 31,2019 Level 1 Level 2 Level 3 (In thousands) Loans receivable (1) $ - $ - $ 217,252 $ ( 18,013) OREO (2) - - 101,626 ( 6,572) As of December 31, 2018, the Corporation recorded losses or valuation adjustments for assets recognized at fair value on a nonrecurring basis as shown in the following table: Carrying value as of December 31, 2018 Losses recorded for the Year Ended December 31, 2018 Level 1 Level 2 Level 3 (In thousands) Loans receivable (1) $ - $ - $ 365,726 $ ( 29,799) OREO (2) - - 131,402 ( 11,499) Loans Held For Sale (3) - - 16,111 ( 10,102) |
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 December 31, 2020 are as follows: December 31,2020 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 |
Estimated Fair Value and Carrying Value of Financial Instruments [Table Text Block] | The following tables present the carrying value, estimated fair value and estimated fair value level of the hierarchy of financial instruments as of December 31, 2020 and 2019: Total Carrying Amount in Statement of Financial Condition as of December 31,2020 Fair Value Estimate as of December 31,2020 Level 1 Level 2 Level 3 (In thousands) Assets: Cash and due from banks and money market investments (amortized cost) $ 1,493,833 $ 1,493,833 $ 1,493,833 $ - $ - Investment securities available for sale (fair value) 4,647,019 4,647,019 7,507 4,627,535 11,977 Investment securities held to maturity (amortized cost) $ 189,488 Less: allowance for credit losses on held to maturity securities ( 8,845) Investment securities held to maturity, net of allowance $ 180,643 173,806 - - 173,806 Equity securities (fair value) 37,588 37,588 1,474 36,114 - Loans held for sale (lower of cost or market) 50,289 52,322 - 52,322 - Loans, held for investment (amortized cost) 11,777,289 Less: allowance for credit losses for loans and finance leases ( 385,887) Loans held for investment, net of allowance $ 11,391,402 11,564,635 - - 11,564,635 Derivatives, included in assets (fair value) 2,482 2,482 - 2,482 - Liabilities: Deposits (amortized cost) $ 15,317,383 $ 15,363,236 $ - $ 15,363,236 $ - Securities sold under agreements to repurchase (amortized cost) 300,000 329,493 - 329,493 - Advances from FHLB (amortized cost) 440,000 446,703 - 446,703 - Other borrowings (amortized cost) 183,762 151,645 - - 151,645 Derivatives, included in liabilities (fair value) 1,920 1,920 - 1,920 - Total Carrying Amount in Statement of Financial Condition as of December 31, 2019 Fair Value Estimate as of 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 of Assets and Liabilities Measured on Recurring Basis [Table Text Block] | The table below presents a reconciliation of the beginning and ending balances of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the years ended December 31, 2020, 2019, and 2018: 2020 2019 2018 Level 3 Instruments Only Securities Available for Sale (1) Securities Available for Sale (1) Securities Available for Sale (1) (In thousands) Beginning balance $ 14,590 $ 17,238 $ 19,855 Total gain (losses) (realized/unrealized): Included in other comprehensive income 2,403 714 222 Included in earnings ( 1,641) ( 497) ( 50) BSPR securities acquired 150 - - Purchases - - 500 Principal repayments and amortization ( 3,525) ( 2,865) ( 3,289) Ending balance $ 11,977 $ 14,590 $ 17,238 ___________________ (1) Amounts mostly related to private label MBS. |
REVENUE FROM CONTRACTS WITH C_2
REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue [Table Text Block] | (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Treasury and Investments United States Operations Virgin Islands Operations Total Year ended December 31, 2020: Net interest income (1) $ 76,025 $ 220,678 $ 135,591 $ 87,879 $ 54,025 $ 26,124 $ 600,322 Service charges and fees on deposit accounts - 13,286 8,026 - 553 2,747 24,612 Insurance commissions - 8,754 - - 52 558 9,364 Merchant-related income - 4,516 478 - 41 809 5,844 Credit and debit card fees - 18,218 62 - 16 1,469 19,765 Other service charges and fees 342 2,900 2,260 184 1,800 1,508 8,994 Not in scope of ASC Topic 606 (1)(2) 21,727 3,288 1,780 13,524 2,168 160 42,647 Total non-interest income 22,069 50,962 12,606 13,708 4,630 7,251 111,226 Total Revenue $ 98,094 $ 271,640 $ 148,197 $ 101,587 $ 58,655 $ 33,375 $ 711,548 (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Treasury and Investments United States Operations Virgin Islands Operations Total Year ended December 31, 2019: Net interest income (1) $ 68,803 $ 244,535 $ 91,266 $ 73,626 $ 62,539 $ 26,312 $ 567,081 Service charges and fees on deposit accounts - 14,534 5,811 - 631 2,940 23,916 Insurance commissions - 9,621 - - 67 498 10,186 Merchant-related income - 4,120 466 - - 1,049 5,635 Credit and debit card fees - 19,014 104 - 43 1,744 20,905 Other service charges and fees 216 3,012 2,690 - 1,558 1,313 8,789 Not in scope of Topic 606 (1) 16,609 1,428 2,643 ( 225) 508 178 21,141 Total non-interest income 16,825 51,729 11,714 ( 225) 2,807 7,722 90,572 Total Revenue $ 85,628 $ 296,264 $ 102,980 $ 73,401 $ 65,346 $ 34,034 $ 657,653 (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Treasury and Investments United States Operations Virgin Islands Operations Total Year ended December 31, 2018: Net interest income (1) $ 79,389 $ 217,933 $ 78,675 $ 61,628 $ 59,056 $ 28,702 $ 525,383 Service charges and fees on deposit accounts - 13,332 4,965 - 559 2,812 21,668 Insurance commissions - 7,889 - - 87 455 8,431 Merchant-related income - 3,561 748 - - 934 5,243 Credit and debit card fees - 17,538 1,225 - 618 2,061 21,442 Other service charges and fees 252 4,391 1,280 71 1,351 525 7,870 Not in scope of Topic 606 (1) 16,821 995 ( 3,060) 2,434 405 61 17,656 Total non-interest income 17,073 47,706 5,158 2,505 3,020 6,848 82,310 Total Revenue $ 96,462 $ 265,639 $ 83,833 $ 64,133 $ 62,076 $ 35,550 $ 607,693 |
Activity of Contract Liabilities [Table Text Block] | (In thousands) 2020 2019 2018 Beginning Balance $ 2,476 $ 2,071 $ 2,396 Plus: Additions - 730 - Less: Amortizations ( 325) ( 325) ( 325) Ending balance $ 2,151 $ 2,476 $ 2,071 |
SUPPLEMENTAL CASH FLOW INFORM_2
SUPPLEMENTAL CASH FLOW INFORMATION (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Supplemental Cash Flow Elements [Abstract] | |
Supplemental Cash Flow Information [Table Text Block] | Supplemental statement of cash flows information is as follows for the indicated periods: Year Ended December 31, 2020 2019 2018 (In thousands) Cash paid for: Interest on borrowings $ 94,872 $ 107,010 $ 98,194 Income tax 16,713 13,495 7,175 Operating cash flow from operating leases 13,464 10,219 - Non-cash investing and financing activities: Additions to OREO 7,249 40,398 48,767 Additions to auto and other repossessed assets 36,203 47,643 52,023 Capitalization of servicing assets 4,864 4,039 3,864 Loan securitizations 221,491 235,258 233,175 Loans held for investment transferred to held for sale 10,817 24,470 90,319 Loans held for sale transferred to held for investment - - 2,179 Payable on unsettled securities purchases 24,033 - - ROU asset obtained in exchange for operating lease liabilities 1,328 10,762 - Adoption of lease accounting standard: ROU asset operating leases - 57,178 - Operating lease liabilities - 59,818 - Acquisition (see Note 2): Consideration 1,280,424 - - Fair value of assets acquired 5,561,564 - - Liabilities assumed 4,291,674 - - |
REGULATORY MATTERS, COMMITMEN_2
REGULATORY MATTERS, COMMITMENTS AND CONTINGENCIES (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Corporations and its banking subsidiarys regulatory capital positions [Table Text Block] | Regulatory Requirements Actual For Capital Adequacy Purposes To be Well-Capitalized Thresholds Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) As of December 31, 2020 Total Capital (to risk-weighted assets) First BanCorp. $ 2,416,682 20.37% $ 948,890 8.0% N/A N/A FirstBank $ 2,360,493 19.91% $ 948,624 8.0% $ 1,185,780 10.0% CET1 Capital (to risk-weighted assets) First BanCorp. $ 2,053,045 17.31% $ 533,751 4.5% N/A N/A FirstBank $ 1,903,251 16.05% $ 533,601 4.5% $ 770,757 6.5% Tier I Capital (to risk-weighted assets) First BanCorp. $ 2,089,149 17.61% $ 711,667 6.0% N/A N/A FirstBank $ 2,211,251 18.65% $ 711,468 6.0% $ 948,624 8.0% Leverage ratio First BanCorp. $ 2,089,149 11.26% $ 742,352 4.0% N/A N/A FirstBank $ 2,211,251 11.92% $ 741,841 4.0% $ 927,301 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% |
Schedule of detail of commitments to extend credit, standby letters of credit and commitments to sell loans [Table Text Block] | The following table summarizes commitments to extend credit and standby letters of credit as of the indicated dates: December 31, 2020 2019 (In thousands) Financial instruments whose contract amounts represent credit risk: Commitments to extend credit: Construction undisbursed funds $ 119,900 $ 185,569 Unused personal lines of credit 1,180,860 722,761 Commercial lines of credit 759,947 533,230 Commercial letters of credit 135,987 82,281 Standby letters of credit 4,964 4,452 |
DERIVATIVE INSTRUMENTS AND HE_2
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Notional Amounts of All Derivative Instruments [Table Text Block] | The following table summarizes the notional amounts of all derivative instruments as of the indicated dates: Notional Amounts (1) As of December 31, 2020 2019 (In thousands) Undesignated economic hedges: Interest rate contracts: Interest rate swap agreements $ 15,864 $ - Written interest rate cap agreements 14,500 21,010 Purchased interest rate cap agreements 14,500 21,010 Interest rate lock commitments 19,931 11,456 Forward Contracts: Sale of TBA GNMA MBS pools 42,000 35,000 Forward loan sales commitments 19,998 6,418 $ 126,793 $ 94,894 (1) Notional amounts are presented on a gross basis with no netting of offsetting exposure positions. |
Summary of Fair Value of Derivative Instruments and Location in Statement of Financial Condition [Table Text Block] | 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 Statements of December 31, December 31, December 31, December 31, Financial Condition 2020 2019 Statements of 2020 2019 Location Fair Value Fair Value Financial Condition Location Fair Value Fair Value (In thousands) Undesignated economic hedges: Interest rate contracts: Interest rate swap agreements Other assets $ 1,622 $ - Accounts payable and other liabilities $ 1,639 $ - 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 737 341 Accounts payable and other liabilities - - Forward Contracts: Sales of TBA GNMA MBS pools Other assets 102 - Accounts payable and other liabilities 280 138 Forward loan sales commitments Other assets 20 20 Accounts payable and other liabilities - - $ 2,482 $ 372 $ 1,920 $ 149 |
Effect of Derivative Instruments on Statement of Income (Loss) [Table Text Block] | The following table summarizes the effect of derivative instruments on the consolidated statements of income for the indicated periods: Gain (or Loss) Location of Unrealized Gain (Loss) Year ended on Derivative Recognized in December 31, Statements of Income 2020 2019 2018 (In thousands) Undesignated economic hedges: Interest rate contracts: Interest rate swap agreements Interest income - Loans $ 27 $ - $ - Written and purchased interest rate cap agreements Interest income - Loans - ( 6) 22 Interest rate lock commitments Mortgage Banking Activities 576 224 383 Forward contracts: Sales of TBA GNMA MBS pools Mortgage Banking Activities ( 54) 245 ( 371) Forward loan sales commitments Mortgage Banking Activities ( 37) 8 12 Total gain on derivatives $ 512 $ 471 $ 46 |
OFFSETTING OF ASSETS AND LIAB_2
OFFSETTING OF ASSETS AND LIABILITIES (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Offsetting [Abstract] | |
Offsetting Assets [Table Text Block] | Offsetting of Financial Assets and Derivative Assets As of December 31, 2020 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 Gross Amounts Not Offset in the Statement of Financial Condition Financial Instruments Cash Collateral Net Amount (In thousands) Description Derivatives $ 89 $ - $ 89 $ - $ ( 89) $ - As of December 31, 2019 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 Gross Amounts Not Offset in the Statement of Financial Condition Financial Instruments Cash Collateral Net Amount (In thousands) Description Derivatives $ 11 $ - $ 11 $ - $ ( 11) $ - Securities purchased under agreement to resell 200,000 ( 200,000) - - - - Total $ 200,011 $ ( 200,000) $ 11 $ - $ ( 11) $ - |
Offsetting Liabilities [Table Text Block] | Offsetting of Financial Liabilities and Derivative Liabilities As of December 31, 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 $ 1,919 $ - $ 1,919 $ ( 1,919) $ - $ - Securities sold under agreements to repurchase 300,000 - 300,000 ( 300,000) - - Total $ 301,919 $ - $ 301,919 $ ( 301,919) $ - $ - 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) $ - $ - |
SEGMENT INFORMATION (Tables)
SEGMENT INFORMATION (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Segment Reporting [Abstract] | |
Schedule Of Segment Reporting Information By Segment [Text Block] | The following tables present information about the reportable segments for the indicated periods: Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Banking Treasury and Investments United States Operations Virgin Islands Operations Total (In thousands) For the year ended December 31, 2020: Interest income $ 128,043 $ 240,725 $ 155,254 $ 55,003 $ 84,169 $ 29,788 $ 692,982 Net (charge) credit for transfer of funds ( 52,018) 18,771 ( 19,663) 59,074 ( 6,164) - - Interest expense - ( 38,818) - ( 26,198) ( 23,980) ( 3,664) ( 92,660) Net interest income 76,025 220,678 135,591 87,879 54,025 26,124 600,322 Provision for credit losses ( 22,518) ( 54,094) ( 74,607) ( 2,774) ( 12,592) ( 4,400) ( 170,985) Non-interest income 22,069 50,962 12,606 13,708 4,630 7,251 111,226 Direct non-interest expenses ( 33,054) ( 131,133) ( 28,631) ( 3,449) ( 33,782) ( 28,815) ( 258,864) Segment income $ 42,522 $ 86,413 $ 44,959 $ 95,364 $ 12,281 $ 160 $ 281,699 Average earnings assets $ 2,241,753 $ 2,202,595 $ 3,039,786 $ 4,232,144 $ 2,026,619 $ 458,608 $ 14,201,505 Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Banking Treasury and Investments United States Operations Virgin Islands Operations Total (In thousands) For the year ended December 31, 2019: Interest income $ 120,981 $ 216,066 $ 148,224 $ 63,175 $ 97,406 $ 30,045 $ 675,897 Net (charge) credit for transfer of funds ( 52,178) 66,675 ( 56,958) 47,477 ( 5,016) - - Interest expense - ( 38,206) - ( 37,026) ( 29,851) ( 3,733) ( 108,816) Net interest income 68,803 244,535 91,266 73,626 62,539 26,312 567,081 (Provision) release for credit losses ( 13,499) ( 41,043) 17,977 - ( 7,296) 4,048 ( 39,813) Non-interest income (loss) 16,825 51,729 11,714 ( 225) 2,807 7,722 90,572 Direct non-interest expenses ( 34,825) ( 116,854) ( 35,130) ( 2,729) ( 34,070) ( 28,995) ( 252,603) Segment income $ 37,304 $ 138,367 $ 85,827 $ 70,672 $ 23,980 $ 9,087 $ 365,237 Average earnings assets $ 2,161,772 $ 1,960,352 $ 2,489,933 $ 2,487,084 $ 1,931,015 $ 467,252 $ 11,497,408 Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Banking Treasury and Investments United States Operations Virgin Islands Operations Total (In thousands) For the year ended December 31, 2018: Interest income $ 127,042 $ 181,166 $ 138,706 $ 61,913 $ 83,971 $ 32,169 $ 624,967 Net (charge) credit for transfer of funds ( 47,653) 65,092 ( 60,031) 44,540 ( 1,948) - - Interest expense - ( 28,325) - ( 44,825) ( 22,967) ( 3,467) ( 99,584) Net interest income 79,389 217,933 78,675 61,628 59,056 28,702 525,383 Provision for credit losses ( 13,083) ( 23,516) ( 4,540) - ( 11,882) ( 5,968) ( 58,989) Non-interest income 17,073 47,706 5,158 2,505 3,020 6,848 82,310 Direct non-interest expenses ( 38,213) ( 112,176) ( 32,635) ( 2,966) ( 33,566) ( 30,963) ( 250,519) Segment income (loss) $ 45,166 $ 129,947 $ 46,658 $ 61,167 $ 16,628 $ ( 1,381) $ 298,185 Average earnings assets $ 2,258,974 $ 1,636,002 $ 2,530,635 $ 2,552,130 $ 1,750,155 $ 537,574 $ 11,265,470 |
Reconciliation of the Reportable Segment Financial Information [Table Text Block] | The following table presents a reconciliation of the reportable segment financial information to the consolidated totals for the indicated periods: Year Ended December 31, 2020 2019 2018 (In thousands) Net income: Total income for segments and other $ 281,699 $ 365,237 $ 298,185 Other operating expenses (1) ( 165,376) ( 125,865) ( 107,547) Income before income taxes 116,323 239,372 190,638 Income tax expense (benefit) 14,050 71,995 ( 10,970) Total consolidated net income $ 102,273 $ 167,377 $ 201,608 Average assets: Total average earning assets for segments $ 14,201,505 $ 11,497,408 $ 11,265,470 Average non-earning assets 1,031,141 954,726 940,731 Total consolidated average assets $ 15,232,646 $ 12,452,134 $ 12,206,201 |
Schedule of revenues and selected balance sheet data by geography [Table Text Block] | The following table presents revenues (interest income plus non-interest income) and selected balance sheet data by geography based on the location in which the transaction was originated as of indicated dates: 2020 2019 2018 (In thousands) Revenues: Puerto Rico $ 678,370 $ 628,489 $ 581,269 United States 88,799 100,213 86,991 Virgin Islands 37,039 37,767 39,017 Total consolidated revenues $ 804,208 $ 766,469 $ 707,277 Selected Balance Sheet Information: Total assets: Puerto Rico $ 16,091,112 $ 10,059,890 $ 9,797,267 United States 2,117,966 2,048,260 1,940,633 Virgin Islands 583,993 503,116 505,661 Loans: Puerto Rico $ 9,367,032 $ 6,695,953 $ 6,586,033 United States 1,993,797 1,879,346 1,834,088 Virgin Islands 466,749 466,383 481,188 Deposits: Puerto Rico (1) $ 12,338,934 $ 6,422,864 $ 6,208,531 United States (2) 1,622,481 1,661,657 1,519,362 Virgin Islands 1,355,968 1,263,908 1,266,821 |
FIRST BANCORP. (Holding Compa_2
FIRST BANCORP. (Holding Company Only) Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Statements of Financial Condition [Table Text Block] | Statements of Financial Condition As of December 31, 2020 2019 (In thousands) Assets Cash and due from banks $ 10,909 $ 16,895 Money market investments 6,211 6,211 Other investment securities 285 285 Investment in First Bank Puerto Rico, at equity 2,396,963 2,362,182 Investment in First Bank Insurance Agency, at equity 41,313 24,995 Investment in FBP Statutory Trust I 1,951 1,963 Investment in FBP Statutory Trust II 3,561 3,561 Other assets 2,023 509 Total assets $ 2,463,216 $ 2,416,601 Liabilities and Stockholders' Equity Liabilities: Other borrowings $ 183,762 $ 184,150 Accounts payable and other liabilities 4,275 4,378 Total liabilities 188,037 188,528 Stockholders' equity 2,275,179 2,228,073 Total liabilities and stockholders' equity $ 2,463,216 $ 2,416,601 |
Statements of Income [Table Text Block] | Statements of Income Year Ended December 31, 2020 2019 2018 (In thousands) Income Interest income on money market investments $ 71 $ 233 $ 20 Interest income on loans - - 105 Dividend income from banking subsidiaries 52,707 42,243 37,784 Other income 439 283 275 53,217 42,759 38,184 Expense Other borrowings 6,355 9,424 8,983 Other operating expenses 2,097 2,131 2,489 8,452 11,555 11,472 Gain on early extinguishment of debt 94 - 2,316 Income before income taxes and equity in undistributed earnings of subsidiaries 44,859 31,204 29,028 Income tax expense 2,429 2,752 - Equity in undistributed earnings of subsidiaries 59,843 138,925 172,580 Net income $ 102,273 $ 167,377 $ 201,608 Other comprehensive income (loss), net of tax 48,691 47,179 ( 19,806) Comprehensive income $ 150,964 $ 214,556 $ 181,802 |
Statements of Cash Flow of holding company [Table Text Block] | Statements of Cash Flows Year Ended December 31, 2020 2019 2018 (In thousands) Cash flows from operating activities: Net income $ 102,273 $ 167,377 $ 201,608 Adjustments to reconcile net income to net cash provided by operating activities: Stock-based compensation 231 314 2,202 Equity in undistributed earnings of subsidiaries ( 59,843) ( 138,925) ( 172,580) Gain on early extinguishment of debt ( 94) - ( 2,316) Accretion of discount on loans - - ( 4) Net (increase) decrease in other assets ( 1,514) 11,710 ( 8,417) Net (decrease) increase in other liabilities ( 459) 526 2,890 Net cash provided by operating activities 40,594 41,002 23,383 Cash flows from investing activities: Principal collected on loans - - 191 Net cash provided by investing activities - - 191 Cash flows from financing activities: Repurchase of common stock ( 206) ( 1,959) ( 2,827) Repayment of junior subordinated debentures ( 282) - ( 21,434) Dividends paid on common stock ( 43,416) ( 30,356) ( 6,517) Dividends paid on preferred stock ( 2,676) ( 2,676) ( 2,676) Net cash used in financing activities ( 46,580) ( 34,991) ( 33,454) Net (decrease) increase in cash and cash equivalents ( 5,986) 6,011 ( 9,880) Cash and cash equivalents at beginning of the year 23,106 17,095 26,975 Cash and cash equivalents at end of year $ 17,120 $ 23,106 $ 17,095 Cash and cash equivalents include: Cash and due from banks $ 10,909 $ 16,895 $ 10,984 Money market instruments 6,211 6,211 6,111 $ 17,120 $ 23,106 $ 17,095 |
NATURE OF BUSINESS AND SUMMAR_3
NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Nature of business (Detail) $ in Millions | Dec. 31, 2020USD ($)subsidiariesofficesnumberofbranches |
Santander [Member] | |
Nature Of Business [Line Items] | |
Assets Held In Custody | $ | $ 69.3 |
FirstBank [Member] | PUERTO RICO | |
Nature Of Business [Line Items] | |
Wholly owned subsidiaries | subsidiaries | 5 |
Banking branches | 73 |
FirstBank [Member] | U S [Member] | |
Nature Of Business [Line Items] | |
Banking branches | 10 |
FirstBank [Member] | USVI and BVI [Member] | |
Nature Of Business [Line Items] | |
Banking branches | 11 |
First Federal Finance Corp [Member] | PUERTO RICO | |
Nature Of Business [Line Items] | |
Offices | offices | 28 |
NATURE OF BUSINESS AND SUMMAR_4
NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Investment Securities (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Schedule Of Investments [Line Items] | ||
Interest Receivable | $ 69,505 | $ 50,205 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 8,845 | 0 |
Debt Securities, Available-for-sale, Allowance for Credit Loss | $ 1,310 | 0 |
Debt Securities, Held-to-maturity, Threshold Period Past Due | 30 years | |
Held-to-maturity Securities [Member] | ||
Schedule Of Investments [Line Items] | ||
Interest Receivable | $ 3,600 | 3,900 |
Available-for-sale Securities [Member] | ||
Schedule Of Investments [Line Items] | ||
Interest Receivable | 8,500 | 5,500 |
Municipal Bonds [Member] | PUERTO RICO | ||
Schedule Of Investments [Line Items] | ||
Debt Securities, Held-to-maturity | $ 189,488 | 138,675 |
Percentage Of Held To Maturity Securities | 60.00% | |
Debt Securities, Held-to-maturity, Allowance for Credit Loss | $ 8,845 | $ 0 |
Municipal Bonds [Member] | PUERTO RICO | Held-to-maturity Securities [Member] | ||
Schedule Of Investments [Line Items] | ||
ACL forecast period | P2Y | |
ACL Reversion Period | P3Y |
NATURE OF BUSINESS AND SUMMAR_5
NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Loans held for investment (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Sep. 01, 2020 | Dec. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 |
Financing Receivable, Past Due [Line Items] | |||||
Interest Receivable | $ 69,505 | $ 69,505 | $ 69,505 | $ 50,205 | |
Threshold Period Past Due Of Financing Receivables To Be Considered Nonperforming | 90 days | ||||
Financing Receivable, Nonaccrual, Interest Income | $ 2,029 | ||||
Troubled Debt Restructurings Sustained Performance Period | 6 months | ||||
Fair value of PCD loans | $ 752,826 | ||||
Loans held for investment | 11,777,289 | 11,777,289 | $ 11,777,289 | 9,002,205 | |
Financing Receivable, Individually Evaluated for Impairment | 500 | 500 | $ 500 | ||
Nonacrual Sustained Performance Period | 6 months | ||||
Nonperforming Financial Instruments [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, Nonaccrual, Interest Income | $ 1,900 | ||||
PCD loans [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Loans held for investment | 130,900 | 130,900 | 130,900 | 136,700 | |
BSPR | |||||
Financing Receivable, Past Due [Line Items] | |||||
Fair value of PCD loans | 752,800 | ||||
ACL for PCD loans | 28,700 | ||||
Loans and Finance Receivables [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Interest Receivable | $ 57,200 | $ 57,200 | $ 57,200 | 39,100 | |
Residential Portfolio Segment [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, Threshold Period Past Due, Writeoff | 180 days | 180 days | 180 days | ||
Threshold Period Past Due Of Financing Receivables To Be Considered Delinquent | 2 years | ||||
Fair value of PCD loans | 322,345 | ||||
Loans held for investment | $ 3,521,954 | $ 3,521,954 | $ 3,521,954 | 2,933,773 | |
Residential Portfolio Segment [Member] | Doral Bank Transaction Member [Member] | PCD loans [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Loans held for investment | 128,400 | 128,400 | $ 128,400 | ||
Residential Portfolio Segment [Member] | Puerto Rico Housing Finance Authority [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Period Of Guaranteed Residential Mortgage Loans That Are No Longer Accruing Interest | 90 days | ||||
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Period Of Guaranteed Residential Mortgage Loans That Are No Longer Accruing Interest | 15 months | ||||
Financing Receivable, Nonaccrual, Interest Income | $ 0 | ||||
Loans held for investment | 150,734 | 150,734 | $ 150,734 | 123,909 | |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Puerto Rico Housing Finance Authority [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Past due 90 days and still accruing | 90 days | ||||
Commercial Portfolio Segment [Member] | COVID-19 [Member] | Section 4013 [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Loans and Leases Receivable, Gross | $ 244,300 | $ 244,300 | $ 244,300 | ||
Financing Receivable Deferral Payment Number Of Agreements | 24 | 24 | |||
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, Nonaccrual, Interest Income | $ 194 | ||||
Threshold Period Past Due Of Financing Receivables To Be Considered Delinquent | 2 years | ||||
Fair value of PCD loans | 180,950 | ||||
Loans held for investment | $ 2,230,602 | $ 2,230,602 | $ 2,230,602 | 1,444,586 | |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Doral Bank Transaction Member [Member] | PCD loans [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Loans held for investment | 2,500 | 2,500 | 2,500 | ||
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, Nonaccrual, Interest Income | $ 157 | ||||
Threshold Period Past Due Of Financing Receivables To Be Considered Delinquent | 30 years | ||||
Fair value of PCD loans | 194,572 | ||||
Loans held for investment | 3,202,590 | 3,202,590 | $ 3,202,590 | 2,230,876 | |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, Nonaccrual, Interest Income | $ 80 | ||||
Threshold Period Past Due Of Financing Receivables To Be Considered Delinquent | 2 years | ||||
Fair value of PCD loans | 0 | ||||
Loans held for investment | 212,500 | 212,500 | $ 212,500 | 111,317 | |
Consumer Portfolio Segment [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Threshold Period Past Due Of Financing Receivables To Be Considered Delinquent | 30 years | ||||
Fair value of PCD loans | $ 54,959 | ||||
Loans held for investment | $ 2,609,643 | $ 2,609,643 | $ 2,609,643 | 2,281,653 | |
Consumer Portfolio Segment [Member] | Auto loans [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, Threshold Period Past Due, Writeoff | 120 days | 120 days | 120 days | ||
Financing Receivable, Nonaccrual, Interest Income | $ 176 | ||||
Loans held for investment | $ 1,296,424 | $ 1,296,424 | $ 1,296,424 | 1,134,855 | |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, Threshold Period Past Due, Writeoff | 120 days | 120 days | 120 days | ||
Financing Receivable, Nonaccrual, Interest Income | $ 49 | ||||
Loans held for investment | $ 372,168 | $ 372,168 | $ 372,168 | 274,875 | |
Consumer Portfolio Segment [Member] | Small Loans [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, Threshold Period Past Due, Writeoff | 180 days | 180 days | 180 days | ||
Consumer Portfolio Segment [Member] | Other Loans [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, Nonaccrual, Interest Income | $ 13 | ||||
Loans held for investment | $ 148,238 | $ 148,238 | $ 148,238 | 165,101 | |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, Threshold Period Past Due, Writeoff | 120 days | 120 days | 120 days | ||
Financing Receivable, Nonaccrual, Interest Income | $ 25 | ||||
Loans held for investment | $ 472,989 | $ 472,989 | $ 472,989 | 414,532 | |
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, Threshold Period Past Due, Writeoff | 180 days | 180 days | 180 days | ||
Financing Receivable, Nonaccrual, Interest Income | $ 0 | ||||
Loans held for investment | $ 319,824 | $ 319,824 | $ 319,824 | $ 292,290 | |
Consumer Portfolio Segment [Member] | Boat Loans [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, Threshold Period Past Due, Writeoff | 120 days | 120 days | 120 days |
NATURE OF BUSINESS AND SUMMAR_6
NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Allowance for loan and lease losses (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Residential Portfolio Segment [Member] | |
Financing Receivable Allowance For Credit Losses [Line Items] | |
Financing Receivable Threshold Period Collateral Dependent | 180 days |
FL | Maximum [Member] | |
Financing Receivable Allowance For Credit Losses [Line Items] | |
Forecast Period | P5Y |
Reversion Period | P5Y |
FL | Residential Portfolio Segment [Member] | |
Financing Receivable Allowance For Credit Losses [Line Items] | |
Loans Receivable With Hybrid Ajustable Rate | 56.00% |
PR And VI [Member] | |
Financing Receivable Allowance For Credit Losses [Line Items] | |
Forecast Period | P2Y |
PR And VI [Member] | Maximum [Member] | |
Financing Receivable Allowance For Credit Losses [Line Items] | |
Reversion Period | P3Y |
Home Equity Lines [Member] | Consumer Portfolio Segment [Member] | |
Financing Receivable Allowance For Credit Losses [Line Items] | |
Financing Receivable Threshold Period Collateral Dependent | 180 days |
NATURE OF BUSINESS AND SUMMAR_7
NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Servicing Assets (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Accounting Policies [Abstract] | ||||
Servicing Asset at Amortized Cost | $ 33,071 | $ 26,762 | $ 27,428 | $ 25,255 |
NATURE OF BUSINESS AND SUMMAR_8
NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Leases (Detail) - USD ($) | Dec. 31, 2020 | Feb. 14, 2020 |
Lessee, Lease, Description [Line Items] | ||
Finance Lease, Liability | $ 0 | $ 0 |
Minimum [Member] | ||
Lessee, Lease, Description [Line Items] | ||
Lessee, Operating Lease, Term of Contract | 2 years | |
Maximum [Member] | ||
Lessee, Lease, Description [Line Items] | ||
Lessee, Operating Lease, Term of Contract | 30 years | |
Option to extend | 7 years |
NATURE OF BUSINESS AND SUMMAR_9
NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Goodwill and other intangible assets (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Sep. 01, 2020 | Dec. 31, 2017 | Feb. 15, 2016 | Jun. 30, 2012 | |
Finite Lived Intangible Assets [Line Items] | |||||||
Gross amount | $ 116,428 | $ 77,196 | $ 77,196 | $ 77,196 | |||
Net intangible assets | 40,893 | 7,573 | 10,659 | ||||
Intangible assets recognized as part of a business combination | 40,900 | ||||||
Goodwill impairment | 0 | 0 | 0 | ||||
Santander [Member] | |||||||
Finite Lived Intangible Assets [Line Items] | |||||||
Intangible assets recognized as part of a business combination | $ 39,200 | ||||||
Customer Relationships [Member] | Credit Card [Member] | |||||||
Finite Lived Intangible Assets [Line Items] | |||||||
Gross amount | 28,265 | 24,465 | 24,465 | 24,465 | |||
Net intangible assets | 4,733 | 3,615 | 5,702 | ||||
Intangible assets recognized as part of a business combination | 4,700 | ||||||
Customer Relationships [Member] | Credit Card [Member] | Doral Bank Transaction Member [Member] | |||||||
Finite Lived Intangible Assets [Line Items] | |||||||
Net intangible assets | 1,700 | 3,600 | |||||
Intangible assets recognized as part of a business combination | $ 24,500 | ||||||
Customer Relationships [Member] | Credit Card [Member] | Santander [Member] | |||||||
Finite Lived Intangible Assets [Line Items] | |||||||
Net intangible assets | 3,000 | ||||||
Intangible assets recognized as part of a business combination | 3,800 | ||||||
Customer Relationships [Member] | Insurance Customer Intangible [Member] | |||||||
Finite Lived Intangible Assets [Line Items] | |||||||
Gross amount | 1,067 | 1,067 | 1,067 | 1,067 | |||
Net intangible assets | 318 | 470 | 622 | ||||
Intangible assets recognized as part of a business combination | 300 | ||||||
Customer Relationships [Member] | Insurance Customer Intangible [Member] | Doral Bank Transaction Member [Member] | |||||||
Finite Lived Intangible Assets [Line Items] | |||||||
Intangible assets recognized as part of a business combination | $ 1,100 | ||||||
Core Deposits [Member] | |||||||
Finite Lived Intangible Assets [Line Items] | |||||||
Gross amount | 87,096 | 51,664 | 51,664 | $ 51,664 | |||
Net intangible assets | 35,842 | $ 3,488 | $ 4,335 | ||||
Intangible assets recognized as part of a business combination | $ 35,800 | ||||||
Core Deposits [Member] | Santander [Member] | |||||||
Finite Lived Intangible Assets [Line Items] | |||||||
Intangible assets recognized as part of a business combination | $ 35,400 |
NATURE OF BUSINESS AND SUMMA_10
NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Securities purchased and sold under agreements to repurchase (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Modified Repurchase Agreements Threshold | 10.00% |
NATURE OF BUSINESS AND SUMMA_11
NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Rewards Liability (Detail) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Revenue Recognition and Deferred Revenue [Abstract] | ||
Reward liability | $ 7.5 | $ 7.1 |
NATURE OF BUSINESS AND SUMMA_12
NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Income Taxes (Detail) $ in Millions | Dec. 31, 2020USD ($) |
Accounting Policies [Abstract] | |
UTBs | $ 1 |
NATURE OF BUSINESS AND SUMMA_13
NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Segment Reporting (Detail) | 12 Months Ended |
Dec. 31, 2020numberofreportableunits | |
Segment Reporting [Abstract] | |
Number Of Reportable Segments | 6 |
NATURE OF BUSINESS AND SUMMA_14
NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Transition Adjustment of ASC 326 (Detail) - USD ($) $ in Thousands | Jan. 01, 2020 | Dec. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2018 | Dec. 31, 2017 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Debt Securities, Held-to-maturity, Allowance for Credit Loss | $ 0 | $ 8,845 | |||
Financing Receivable Allowance For Credit Losses | 155,139 | 385,887 | $ 196,362 | $ 231,843 | |
Off-Balance Sheet, Credit Loss, Liability | 0 | 5,105 | 412 | 676 | |
Pre-tax effect in beginning retained eaarnings | (155,139) | ||||
Balance sheet reclassification | (230,800) | ||||
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 Losses | 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 Losses | 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 Losses | 44,806 | 120,311 | 50,794 | 58,975 | |
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 Losses | 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 Losses | 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 Losses | 15,198 | 37,944 | 32,546 | 48,871 | |
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 Losses | 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 Losses | 14,731 | ||||
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Financing Receivable Allowance For Credit Losses | 39,194 | 109,342 | 55,581 | 48,493 | |
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 Losses | 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 Losses | (19,306) | ||||
Commercial Portfolio Segment [Member] | Construction Loans [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Financing Receivable Allowance For Credit Losses | 2,370 | 5,380 | 3,592 | 4,522 | |
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 Losses | 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 Losses | 797 | ||||
Consumer Portfolio Segment [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Financing Receivable Allowance For Credit Losses | $ 53,571 | $ 112,910 | $ 53,849 | $ 70,982 | |
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 Losses | 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 Losses | $ 35,106 |
BUSINESS COMBINATION - Estimate
BUSINESS COMBINATION - Estimated Fair Value of Net Assets Acquired (Detail) $ in Thousands | Sep. 01, 2020USD ($) |
Fair Value Disclosure Item Amounts [Domain] | Measurment Period Adjustments [Member] | |
Business Acquisition [Line Items] | |
Payments to Acquire Businesses, Gross | $ 2,798 |
Fair Value Disclosure Item Amounts [Domain] | Fair Value as Originally Recorded | |
Business Acquisition [Line Items] | |
Payments to Acquire Businesses, Gross | 1,277,626 |
Fair Value Disclosure Item Amounts [Domain] | Fair Value as Remeasured | |
Business Acquisition [Line Items] | |
Payments to Acquire Businesses, Gross | 1,280,424 |
BSPR | Fair Value Disclosure Item Amounts [Domain] | Measurment Period Adjustments [Member] | |
Fair value of assets acquired: | |
Cash and cash equivalents | 0 |
Investment securities | 0 |
Loans, net | (216) |
Premises and equipment, net | 0 |
Intangibles | 0 |
Other assets | (352) |
Total assets and identifiable intangible assets acquired | (568) |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract] | |
Deposits | 0 |
Other liabilities | 865 |
Total liabilities assumed | 865 |
Fair value of net assets and identifiable intangible assets | (1,433) |
Goodwill | 4,231 |
BSPR | Fair Value Disclosure Item Amounts [Domain] | Measurment Period Adjustments [Member] | Residential Portfolio Segment [Member] | |
Fair value of assets acquired: | |
Loans, net | (216) |
BSPR | Fair Value Disclosure Item Amounts [Domain] | Measurment Period Adjustments [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | |
Fair value of assets acquired: | |
Loans, net | 0 |
BSPR | Fair Value Disclosure Item Amounts [Domain] | Measurment Period Adjustments [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | |
Fair value of assets acquired: | |
Loans, net | 0 |
BSPR | Fair Value Disclosure Item Amounts [Domain] | Measurment Period Adjustments [Member] | Consumer Portfolio Segment [Member] | |
Fair value of assets acquired: | |
Loans, net | 0 |
BSPR | Fair Value Estimated [Member] | |
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 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract] | |
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 Estimated [Member] | Residential Portfolio Segment [Member] | |
Fair value of assets acquired: | |
Loans, net | 807,637 |
BSPR | Fair Value Estimated [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | |
Fair value of assets acquired: | |
Loans, net | 740,919 |
BSPR | Fair Value Estimated [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | |
Fair value of assets acquired: | |
Loans, net | 752,154 |
BSPR | Fair Value Estimated [Member] | Consumer Portfolio Segment [Member] | |
Fair value of assets acquired: | |
Loans, net | 214,206 |
BSPR | Fair Value As Remeasured [Member] | |
Fair value of assets acquired: | |
Cash and cash equivalents | 1,684,252 |
Investment securities | 1,167,225 |
Loans, net | 2,514,700 |
Premises and equipment, net | 12,499 |
Intangibles | 39,232 |
Other assets | 143,656 |
Total assets and identifiable intangible assets acquired | 5,561,564 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract] | |
Deposits | 4,194,940 |
Other liabilities | 96,734 |
Total liabilities assumed | 4,291,674 |
Fair value of net assets and identifiable intangible assets | 1,269,890 |
Goodwill | 10,534 |
BSPR | Fair Value As Remeasured [Member] | Residential Portfolio Segment [Member] | |
Fair value of assets acquired: | |
Loans, net | 807,421 |
BSPR | Fair Value As Remeasured [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | |
Fair value of assets acquired: | |
Loans, net | 740,919 |
BSPR | Fair Value As Remeasured [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | |
Fair value of assets acquired: | |
Loans, net | 752,154 |
BSPR | Fair Value As Remeasured [Member] | Consumer Portfolio Segment [Member] | |
Fair value of assets acquired: | |
Loans, net | $ 214,206 |
BUSINESS COMBINATION - Pro Form
BUSINESS COMBINATION - Pro Forma Financial Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Business Acquisition, Pro Forma Information [Abstract] | ||
Net interest income | $ 722,556 | $ 789,938 |
Non interest income | 132,180 | 129,303 |
Business Acquisition, Pro Forma Net Income (Loss) | $ 183,972 | $ 213,311 |
BUSINESS COMBINATION - Addition
BUSINESS COMBINATION - Additional Information (Detail) - USD ($) $ in Thousands | Sep. 01, 2020 | Dec. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2020 |
Business Acquisition [Line Items] | ||||||
Business Combination Consideration Transferred Description | The preliminary consideration for the acquisition amounted to approximately (i) $387.8 million for 117.5% of BSPR’s core tangible common equity, comprised of a $57.8 million premium on $330 million of core tangible common equity, plus (ii) $892.2 million for BSPR’s excess capital (paid at par), which represents the estimated closing payment pursuant to the terms of the Stock Purchase Agreement. | |||||
Business Combination, Acquisition Related Costs | $ 26,509 | $ 11,442 | $ 0 | $ 37,900 | ||
Goodwill | $ 38,632 | 38,632 | $ 28,098 | 38,632 | ||
Intangible assets recognized as part of a business combination | 40,900 | 40,900 | 40,900 | |||
Fair value of PCD held to maturity securities | $ 55,532 | |||||
Contractual amount PCD held to maturity securities | 67,082 | |||||
Discount on PCD held to maturity securities | 10,281 | |||||
Initial allowance on PCD debt securities | 1,269 | |||||
Fair value of PCD loans | 752,826 | |||||
Contractual amount of PCD loans | $ 786,049 | |||||
Business Combination Acquisition Related Costs Incurred By The Acquiree | 2,000 | |||||
Adjustments to goodwill | 4,231 | |||||
Core Deposits [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Intangible assets recognized as part of a business combination | 35,800 | 35,800 | 35,800 | |||
Customer Relationships [Member] | Credit Card [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Intangible assets recognized as part of a business combination | 4,700 | $ 4,700 | $ 4,700 | |||
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 consumer, 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 | |||||
Goodwill | $ 10,500 | |||||
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 | 752,800 | |||||
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 | |||||
Adjustments to goodwill | $ 4,200 | $ 4,200 | ||||
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 |
RESTRICTIONS ON CASH AND DUE _2
RESTRICTIONS ON CASH AND DUE FROM BANKS (Narratives) (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Minimum [Member] | ||
Restricted Cash and Cash Equivalents Items [Line Items] | ||
Average Weekly Demand Deposit Reserve | $ 883,800,000 | $ 422,100,000 |
Time Deposits [Member] | ||
Restricted Cash and Cash Equivalents Items [Line Items] | ||
Restricted Cash and Cash Equivalents | $ 300,000 |
MONEY MARKET INVESTMENTS (Detai
MONEY MARKET INVESTMENTS (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Cash and Cash Equivalents [Line Items] | |||
Time deposits with other financial institutions | $ 300 | $ 300 | |
Other short-term investments | 60,272 | 97,408 | |
Money Market Funds At Carrying Value | $ 60,572 | $ 97,708 | $ 7,590 |
Weighted average interest rate, time deposits with other financial institutions | 0.45% | 1.00% | |
Other short-term investments [Member] | |||
Cash and Cash Equivalents [Line Items] | |||
Other short-term investments | $ 1,181 | $ 1,180 | |
Weighted average rate, other short-term investments | 0.11% | 0.11% | |
Overnight deposits with other financial institutions [Member] | |||
Cash and Cash Equivalents [Line Items] | |||
Other short-term investments | $ 59,091 | $ 96,228 | |
Weighted average rate, other short-term investments | 0.15% | 1.63% |
MONEY MARKET INVESTMENTS - Addi
MONEY MARKET INVESTMENTS - Additional Information (Detail) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Cash and Cash Equivalents [Line Items] | |||
Money market instruments | $ 60,572,000 | $ 97,708,000 | $ 7,590,000 |
Asset Pledged as Collateral [Member] | |||
Cash and Cash Equivalents [Line Items] | |||
Money market instruments | $ 0 |
INVESTMENT SECURITIES - Investm
INVESTMENT SECURITIES - Investment Securities Available for Sale (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized cost | $ 4,584,851 | $ 2,109,008 |
Gross unrealized gain | 68,995 | 24,573 |
Gross unrealized loss | 5,517 | 10,056 |
Allowance for Credit Losses | 1,310 | 0 |
Fair value | $ 4,647,019 | $ 2,123,525 |
Weighted-average yield | 1.28% | 2.52% |
U.S. Treasury securities [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized cost Due within one year | $ 7,498 | |
Gross Unrealized gains Due within one year | 9 | |
Gross Unrealized losses Due within one year | 0 | |
Allowance for Credit Losses within one year | 0 | |
Fair value Due within one year | $ 7,507 | |
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 obigations [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized cost Due within one year | $ 24,413 | $ 93,299 |
Gross Unrealized gains Due within one year | 273 | 103 |
Gross Unrealized losses Due within one year | 0 | 106 |
Allowance for Credit Losses within one year | 0 | |
Fair value Due within one year | $ 24,686 | $ 93,296 |
Weighted-average yield Due within one year | 1.95% | 1.67% |
Amortized cost After 1 to 5 years | $ 691,668 | $ 142,513 |
Gross Unrealized gains After 1 to 5 years | 911 | 676 |
Gross Unrealized losses After 1 to 5 years | 290 | 52 |
Allowance for Credit Losses After 1 to 5 years | 0 | |
Fair value After 1 to 5 years | $ 692,289 | $ 143,137 |
Weighted-average yield After 1 to 5 years | 0.57% | 2.12% |
Amortized cost After 5 to 10 years | $ 441,454 | $ 63,764 |
Gross Unrealized gains After 5 to 10 years | 821 | 165 |
Gross Unrealized losses After 5 to 10 years | 347 | 150 |
Allowance for Credit Losses After 5 to 10 years | 0 | |
Fair value After 5 to 10 years | $ 441,928 | $ 63,779 |
Weighted-average yield After 5 to 10 years | 0.83% | 2.33% |
Amortized cost After 10 years | $ 21,413 | $ 24,624 |
Gross Unrealized gains After 10 years | 0 | 0 |
Gross Unrealized losses After 10 years | 149 | 116 |
Allowance for Credit Losses After 10 years | 0 | |
Fair value After 10 years | $ 21,264 | $ 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 | |
Gross Unrealized gains After 5 to 10 years | 348 | |
Gross Unrealized losses After 5 to 10 years | 0 | |
Fair value After 5 to 10 years | $ 4,348 | |
Weighted-average yield After 5 to 10 years | 5.12% | |
Amortized cost After 10 years | $ 3,987 | $ 4,166 |
Gross Unrealized gains After 10 years | 0 | 0 |
Gross Unrealized losses After 10 years | 780 | 1,192 |
Allowance for Credit Losses After 10 years | 308 | |
Fair value After 10 years | $ 2,899 | $ 2,974 |
Weighted-average yield After 10 years | 6.97% | 6.97% |
Allowance for Credit Losses | $ 308 | $ 0 |
United States And Puerto Rico Government Obligations [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized cost | 1,190,433 | 339,844 |
Gross unrealized gain | 2,014 | 1,293 |
Gross unrealized loss | 1,566 | 1,616 |
Allowance for Credit Losses | 308 | |
Fair value | $ 1,190,573 | $ 339,521 |
Weighted-average yield | 0.72% | 2.11% |
MBS [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized cost | $ 3,393,768 | $ 1,768,664 |
Gross unrealized gain | 66,981 | 23,280 |
Gross unrealized loss | 3,951 | 8,440 |
Allowance for Credit Losses | 1,002 | |
Fair value | $ 3,455,796 | $ 1,783,504 |
Weighted-average yield | 1.47% | 2.60% |
MBS [Member] | FHLMC [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized cost After 1 to 5 years | $ 75 | |
Gross Unrealized gains After 1 to 5 years | 8 | |
Gross Unrealized losses After 1 to 5 years | 0 | |
Allowance for Credit Losses After 1 to 5 years | 0 | |
Fair value After 1 to 5 years | $ 83 | |
Weighted-average yield After 1 to 5 years | 4.86% | |
Amortized cost After 5 to 10 years | $ 60,773 | $ 81,418 |
Gross Unrealized gains After 5 to 10 years | 2,850 | 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 | $ 63,623 | $ 81,779 |
Weighted-average yield After 5 to 10 years | 2.15% | 2.16% |
Amortized cost After 10 years | $ 1,070,984 | $ 424,316 |
Gross Unrealized gains After 10 years | 15,340 | 3,873 |
Gross Unrealized losses After 10 years | 159 | 758 |
Allowance for Credit Losses After 10 years | 0 | |
Fair value After 10 years | $ 1,086,165 | $ 427,431 |
Weighted-average yield After 10 years | 1.38% | 2.50% |
Amortized cost | $ 1,131,832 | $ 505,734 |
Gross unrealized gain | 18,198 | 4,462 |
Gross unrealized loss | 159 | 986 |
Allowance for Credit Losses | 0 | |
Fair value | $ 1,149,871 | $ 509,210 |
Weighted-average yield | 1.42% | 2.44% |
MBS [Member] | GNMA [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized cost Due within one year | $ 1 | |
Gross Unrealized gains Due within one year | 0 | |
Gross Unrealized losses Due within one year | 0 | |
Allowance for Credit Losses within one year | 0 | |
Fair value Due within one year | $ 1 | |
Weighted-average yield Due within one year | 1.93% | |
Amortized cost After 1 to 5 years | $ 26,918 | $ 4,357 |
Gross Unrealized gains After 1 to 5 years | 1,080 | 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 | $ 27,998 | $ 4,402 |
Weighted-average yield After 1 to 5 years | 2.91% | 3.26% |
Amortized cost After 5 to 10 years | $ 40,727 | $ 42,303 |
Gross Unrealized gains After 5 to 10 years | 128 | 607 |
Gross Unrealized losses After 5 to 10 years | 69 | 0 |
Allowance for Credit Losses After 5 to 10 years | 0 | |
Fair value After 5 to 10 years | $ 40,786 | $ 42,910 |
Weighted-average yield After 5 to 10 years | 0.42% | 2.77% |
Amortized cost After 10 years | $ 614,584 | $ 258,944 |
Gross Unrealized gains After 10 years | 16,271 | 7,126 |
Gross Unrealized losses After 10 years | 148 | 500 |
Allowance for Credit Losses After 10 years | 0 | |
Fair value After 10 years | $ 630,707 | $ 265,570 |
Weighted-average yield After 10 years | 1.27% | 3.03% |
Amortized cost | $ 682,230 | $ 305,604 |
Gross unrealized gain | 17,479 | 7,778 |
Gross unrealized loss | 217 | 500 |
Allowance for Credit Losses | 0 | |
Fair value | $ 699,492 | $ 312,882 |
Weighted-average yield | 1.29% | 3.00% |
MBS [Member] | FNMA [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized cost After 1 to 5 years | $ 24,812 | $ 19,779 |
Gross Unrealized gains After 1 to 5 years | 891 | 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 | $ 25,703 | $ 20,191 |
Weighted-average yield After 1 to 5 years | 2.81% | 2.79% |
Amortized cost After 5 to 10 years | $ 110,832 | $ 140,599 |
Gross Unrealized gains After 5 to 10 years | 5,783 | 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 | $ 116,615 | $ 141,215 |
Weighted-average yield After 5 to 10 years | 2.13% | 2.14% |
Amortized cost After 10 years | $ 1,154,707 | $ 700,213 |
Gross Unrealized gains After 10 years | 23,459 | 9,006 |
Gross Unrealized losses After 10 years | 203 | 1,208 |
Allowance for Credit Losses After 10 years | 0 | |
Fair value After 10 years | $ 1,177,963 | $ 708,011 |
Weighted-average yield After 10 years | 1.53% | 2.58% |
Amortized cost | $ 1,290,351 | $ 860,591 |
Gross unrealized gain | 30,133 | 10,678 |
Gross unrealized loss | 203 | 1,852 |
Allowance for Credit Losses | 0 | |
Fair value | $ 1,320,281 | $ 869,417 |
Weighted-average yield | 1.61% | 2.51% |
MBS [Member] | Collateralized mortgage obligations guaranteed by FHLMC, FNMA and GNMA [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized cost After 1 to 5 years | $ 538 | $ 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 | $ 537 | $ 607 |
Weighted-average yield After 1 to 5 years | 0.81% | 2.43% |
Amortized cost After 5 to 10 years | $ 18,438 | |
Gross Unrealized gains After 5 to 10 years | 152 | |
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 | $ 18,590 | |
Weighted-average yield After 5 to 10 years | 0.80% | |
Amortized cost After 10 years | $ 258,069 | $ 80,130 |
Gross Unrealized gains After 10 years | 1,019 | 362 |
Gross Unrealized losses After 10 years | 491 | 220 |
Allowance for Credit Losses After 10 years | 0 | |
Fair value After 10 years | $ 258,597 | $ 80,272 |
Weighted-average yield After 10 years | 1.56% | 2.76% |
Amortized cost | $ 277,045 | $ 80,738 |
Gross unrealized gain | 1,171 | 362 |
Gross unrealized loss | 492 | 221 |
Allowance for Credit Losses | 0 | |
Fair value | $ 277,724 | $ 80,879 |
Weighted-average yield | 1.51% | 2.75% |
MBS [Member] | Private label [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized cost After 10 years | $ 12,310 | $ 15,997 |
Gross Unrealized gains After 10 years | 0 | 0 |
Gross Unrealized losses After 10 years | 2,880 | 4,881 |
Allowance for Credit Losses After 10 years | 1,002 | |
Fair value After 10 years | $ 8,428 | $ 11,116 |
Weighted-average yield After 10 years | 2.25% | 3.90% |
Gross unrealized loss | $ 3,900 | |
Allowance for Credit Losses | 1,002 | $ 0 |
Fair value | $ 8,400 | |
Weighted-average yield | 2.25% | |
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 - Aggrega
INVESTMENT SECURITIES - Aggregate amortized cost and approximate market value of investment securities available for sale by contractual maturity (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Schedule Of Available For Sale Securities [Line Items] | ||
Total Amortized cost | $ 4,584,851 | $ 2,109,008 |
Total Fair value | 4,647,019 | 2,123,525 |
United States And Puerto Rico Government Obligations And Other Debt Obligations [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized cost Due within one year | 31,911 | |
Amortized cost After 1 to 5 years | 692,318 | |
Amortized cost After 5 to 10 years | 441,454 | |
Amortized cost After 10 years | 25,400 | |
Total Amortized cost | 1,191,083 | |
Fair value Due within one year | 32,193 | |
Fair value After 1 to 5 years | 692,939 | |
Fair value After 5 to 10 years | 441,928 | |
Fair value After 10 years | 24,163 | |
Total Fair value | 1,191,223 | |
Mortgage Backed Securities [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Total Amortized cost | 3,393,768 | 1,768,664 |
Total Fair value | $ 3,455,796 | $ 1,783,504 |
INVESTMENT SECURITIES - Additio
INVESTMENT SECURITIES - Additional Information (Detail) - USD ($) | Sep. 01, 2020 | Jan. 01, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Schedule Of Investments [Line Items] | |||||
Proceeds from sales of available-for-sale securities | $ 1,195,250,000 | $ 0 | $ 47,805,000 | ||
Available-for-sale realized gains | 13,300,000 | ||||
Available-for-sale gross realized losses | 100,000 | ||||
Available-for-sale net gain | 13,200,000 | ||||
Fair value | 4,647,019,000 | 2,123,525,000 | |||
Gross unrealized loss | 5,517,000 | 10,056,000 | |||
Available-for-sale, allowance for credit losses | 1,310,000 | 0 | |||
Provision For Other Credit Losses Previous Expected Credit Losses | 1,333,000 | ||||
Charge-offs | 331,000 | ||||
Provision For Other Credit Losses No Previous Expected Credit Losses | 308,000 | ||||
Allowance for credit losses, Held-to-Maturity securities | 8,845,000 | 0 | |||
Initial allowance on PCD debt securities | $ 1,269,000 | ||||
Purchase price of debt securities at acquisition (initial fair value) | 55,532,000 | ||||
Debt Securities, Held-to-maturity, Past Due | $ 0 | ||||
Debt Securities, Held-to-maturity, Threshold Period Past Due | 30 years | ||||
ASC 326 [Member] | |||||
Schedule Of Investments [Line Items] | |||||
Allowance for credit losses, Held-to-Maturity securities | $ 8,134,000 | ||||
ASC 326 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||
Schedule Of Investments [Line Items] | |||||
Allowance for credit losses, Held-to-Maturity securities | 8,134,000 | ||||
Municipal Bonds [Member] | Puerto Rico [Member] | |||||
Schedule Of Investments [Line Items] | |||||
Allowance for credit losses, Held-to-Maturity securities | $ 8,845,000 | 0 | |||
Initial allowance on PCD debt securities | $ 1,300,000 | 1,269,000 | |||
Municipal Bonds [Member] | Puerto Rico [Member] | ASC 326 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||
Schedule Of Investments [Line Items] | |||||
Impact of adopting ASC 326 on Held-to-maturity securities | $ 8,134,000 | ||||
Puerto Rico government obligations [Member] | |||||
Schedule Of Investments [Line Items] | |||||
Available-for-sale, allowance for credit losses | 308,000 | 0 | |||
Provision For Other Credit Losses Previous Expected Credit Losses | 0 | ||||
Charge-offs | 0 | ||||
Provision For Other Credit Losses No Previous Expected Credit Losses | 308,000 | ||||
Puerto Rico government obligations [Member] | Residential Mortgage Backed Securities [Member] | |||||
Schedule Of Investments [Line Items] | |||||
Fair value | 2,900,000 | ||||
Gross unrealized loss | 1,100,000 | ||||
Provision For Other Credit Losses No Previous Expected Credit Losses | 300,000 | ||||
MBS [Member] | |||||
Schedule Of Investments [Line Items] | |||||
Loss on Sale of Investments | 59,000 | ||||
Fair value | 3,455,796,000 | 1,783,504,000 | |||
Gross unrealized loss | 3,951,000 | 8,440,000 | |||
Available-for-sale, allowance for credit losses | 1,002,000 | ||||
MBS [Member] | Private label [Member] | |||||
Schedule Of Investments [Line Items] | |||||
Fair value | 8,400,000 | ||||
Gross unrealized loss | 3,900,000 | ||||
Available-for-sale, allowance for credit losses | 1,002,000 | $ 0 | |||
Provision For Other Credit Losses Previous Expected Credit Losses | 1,333,000 | ||||
Charge-offs | 331,000 | ||||
Provision For Other Credit Losses No Previous Expected Credit Losses | $ 0 | ||||
US Government-sponsored Enterprises Debt Securities [Member] | Call Option [Member] | |||||
Schedule Of Investments [Line Items] | |||||
Gain on Sale of Investments | $ 22,000 | ||||
Available-for-sale Securities [Member] | |||||
Schedule Of Investments [Line Items] | |||||
Percentage Of Debt Securities Government And Government Sponsored Agencies | 99.00% | ||||
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] | London Interbank Offered Rate (LIBOR) [Member] | |||||
Schedule Of Investments [Line Items] | |||||
Loans Receivable, Description of Variable Rate Basis | The interest rate on these private-label MBS is variable, tied to 3-month LIBOR and limited to the weighted-average coupon on the underlying collateral. | ||||
Held-to-maturity Securities [Member] | Municipal Bonds [Member] | Puerto Rico [Member] | |||||
Schedule Of Investments [Line Items] | |||||
Provision for credit loss expense | $ (558,000) |
INVESTMENT SECURITIES - Availab
INVESTMENT SECURITIES - Available-For-Sale Investments' Fair Value And Gross Unrealized Losses (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Schedule Of Available For Sale Securities [Line Items] | ||
Fair Value Less than 12 months | $ 782,960 | $ 278,893 |
Unrealized Losses Less than 12 months | 1,610 | 1,634 |
Fair Value 12 months or more | 44,465 | 358,629 |
Unrealized Losses 12 months or more | 3,907 | 8,422 |
Total Fair Value | 827,425 | 637,522 |
Total Unrealized Losses | 5,517 | 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 | 2,899 | 2,974 |
Unrealized Losses 12 months or more | 780 | 1,192 |
Total Fair Value | 2,899 | 2,974 |
Total Unrealized Losses | 780 | 1,192 |
U.S. Treasury and U.S. government agencies obligations | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Fair Value Less than 12 months | 425,155 | 45,073 |
Unrealized Losses Less than 12 months | 621 | 172 |
Fair Value 12 months or more | 23,377 | 99,764 |
Unrealized Losses 12 months or more | 165 | 252 |
Total Fair Value | 448,532 | 144,837 |
Total Unrealized Losses | 786 | 424 |
MBS [Member] | FNMA [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Fair Value Less than 12 months | 93,509 | 58,668 |
Unrealized Losses Less than 12 months | 203 | 499 |
Fair Value 12 months or more | 0 | 173,708 |
Unrealized Losses 12 months or more | 0 | 1,353 |
Total Fair Value | 93,509 | 232,376 |
Total Unrealized Losses | 203 | 1,852 |
MBS [Member] | FHLMC [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Fair Value Less than 12 months | 89,292 | 74,134 |
Unrealized Losses Less than 12 months | 159 | 270 |
Fair Value 12 months or more | 0 | 63,864 |
Unrealized Losses 12 months or more | 0 | 716 |
Total Fair Value | 89,292 | 137,998 |
Total Unrealized Losses | 159 | 986 |
MBS [Member] | GNMA [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Fair Value Less than 12 months | 70,504 | 79,145 |
Unrealized Losses Less than 12 months | 217 | 472 |
Fair Value 12 months or more | 0 | 7,203 |
Unrealized Losses 12 months or more | 0 | 28 |
Total Fair Value | 70,504 | 86,348 |
Total Unrealized Losses | 217 | 500 |
MBS [Member] | Collateralized mortgage obligations guaranteed by FHLMC, FNMA and GNMA [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Fair Value Less than 12 months | 104,500 | 21,873 |
Unrealized Losses Less than 12 months | 410 | 221 |
Fair Value 12 months or more | 9,761 | 0 |
Unrealized Losses 12 months or more | 82 | 0 |
Total Fair Value | 114,261 | 21,873 |
Total Unrealized Losses | 492 | 221 |
MBS [Member] | Private label [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Fair Value Less than 12 months | 0 | 0 |
Unrealized Losses Less than 12 months | 0 | 0 |
Fair Value 12 months or more | 8,428 | 11,116 |
Unrealized Losses 12 months or more | 2,880 | 4,881 |
Total Fair Value | 8,428 | 11,116 |
Total Unrealized Losses | $ 2,880 | $ 4,881 |
INVESTMENT SECURITIES - Signifi
INVESTMENT SECURITIES - Significant Assumptions in Valuation of Private Label MBS (Detail) - MBS [Member] - Private label [Member] | Dec. 31, 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 | 0.122 | 0.137 |
Discount rate [Member] | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.122 | 0.137 |
Discount rate [Member] | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.122 | 0.137 |
Prepayment rate [Member] | Weighted Average [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.121 | 0.079 |
Prepayment rate [Member] | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.012 | 0.068 |
Prepayment rate [Member] | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.188 | 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 | 0.102 | 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 | 0.026 | 0 |
Projected Cumulative Loss Rate [Member] | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.223 | 0.074 |
INVESTMENT SECURITIES - ACL for
INVESTMENT SECURITIES - ACL for Debt Securities Available-for-Sale (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items] | |
Beginning Balance | $ 0 |
Addtions for securities for which no previous expected credit losses were recognized (provision for credit losses) | 308 |
Addtions for securities for which previous expected credit losses were recognized (provision for credit losses) | 1,333 |
Net charge-offs | (331) |
Ending Balance | 1,310 |
MBS [Member] | |
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items] | |
Ending Balance | 1,002 |
MBS [Member] | Private label [Member] | |
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items] | |
Beginning Balance | 0 |
Addtions for securities for which no previous expected credit losses were recognized (provision for credit losses) | 0 |
Addtions for securities for which previous expected credit losses were recognized (provision for credit losses) | 1,333 |
Net charge-offs | (331) |
Ending Balance | 1,002 |
Puerto Rico government obligations [Member] | |
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items] | |
Beginning Balance | 0 |
Addtions for securities for which no previous expected credit losses were recognized (provision for credit losses) | 308 |
Addtions for securities for which previous expected credit losses were recognized (provision for credit losses) | 0 |
Net charge-offs | 0 |
Ending Balance | $ 308 |
INVESTMENT SECURITIES - OTTI Lo
INVESTMENT SECURITIES - OTTI Losses on Available-for-Sale Debt Securities (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Investments, Debt and Equity Securities [Abstract] | ||
Total OTTI losses | $ (557) | $ 0 |
Portion of OTTI recognized in OCI | 60 | (50) |
Net impairment losses recognized in earnings | $ (497) | $ (50) |
INVESTMENT SECURITIES - Aggre_2
INVESTMENT SECURITIES - Aggregate amortized cost and market value of the securities by issuers when the aggregate amortized cost of the sucurities of such issuers exceed 10% of the Corporation's stockholders' equity (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
FHLMC [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | $ 1,502,614 | $ 509,769 |
Fair Value | 1,520,819 | 513,249 |
GNMA [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 850,384 | 370,511 |
Fair Value | 868,070 | 377,872 |
FNMA [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 1,662,145 | 915,704 |
Fair Value | $ 1,692,172 | $ 924,663 |
INVESTMENT SECURITIES - Inves_2
INVESTMENT SECURITIES - Investment Securities Held to Maturity (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Schedule Of Held To Maturity Securities [Line Items] | ||
Held to Maturity Fair value | $ 173,806 | $ 110,374 |
Allowance for credit losses, Held-to-Maturity securities | 8,845 | 0 |
Municipal Bonds [Member] | Puerto Rico [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held to Matury Amortized Due Withing One Year | 556 | 321 |
Held to Maturity Gross Unrecognized gain Due Within One Year | 7 | 0 |
Held to Maturity Gross Unrecognized losses Due Within One Year | 0 | 6 |
Held to Maturity Fair value Due Within One Year | 563 | $ 315 |
Allowance for credit losses Due within one year | $ 0 | |
Held to Maturity Weighted-average yield Due withing One Year | 5.41% | 5.84% |
Held to Maturity Amortized Cost After 1 to 5 years | $ 17,297 | $ 8,264 |
Held to Maturity Gross Unrecognized gains After 1 to 5 years | 561 | 0 |
Held to Maturity Gross Unrecognized losses After 1 to 5 years | 305 | 736 |
Held to Maturity Fair value After 1 to 5 years | 17,553 | $ 7,528 |
Allowance for credit losses After 1 to 5 years | $ 576 | |
Held to Maturity Weighted-average yield After 1 to 5 years | 3.00% | 5.18% |
Held to Maturity Amortized Cost After 5 to 10 years | $ 88,394 | $ 56,511 |
Held to Maturity Gross Unrecognized gains After 5 to 10 yearss | 1,388 | 0 |
Held to Maturity Gross Unrecognized losses After 5 to 10 years | 3,146 | 8,646 |
Held to Maturity Fair value After 5 to 10 years | 86,636 | $ 47,865 |
Allowance for credit losses After 5 to 10 years | $ 4,401 | |
Held to Maturity Weighted-average yield After 5 to 10 years | 4.66% | 5.77% |
Held to Maturity Amortized Cost After 10 years | $ 83,241 | $ 73,579 |
Held to Maturity Gross Unrecognized gains After 10 years | 0 | 0 |
Held to Maturity Gross Unrecognized losses After 10 years | 14,187 | 18,913 |
Held to Maturity Fair value After 10 years | 69,054 | $ 54,666 |
Allowance for credit losses After 10 years | $ 3,868 | |
Held to Maturity Weighted-average yield After 10 years | 3.57% | 5.44% |
Held To Maturity Securities Amortized | $ 189,488 | $ 138,675 |
Held to Maturity Gross Unrecognized gains | 1,956 | 0 |
Held to Maturity Gross Unrecognized losses | 17,638 | 28,301 |
Held to Maturity Fair value | 173,806 | 110,374 |
Allowance for credit losses, Held-to-Maturity securities | $ 8,845 | $ 0 |
Held to Maturity Weighted-average yield | 4.03% | 5.56% |
INVESTMENT SECURITIES - Inves_3
INVESTMENT SECURITIES - Investments Securities Held to Maturity (Securities in continous unrealized loss position) (Detail) - Puerto Rico [Member] - Municipal Bonds [Member] - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Schedule Of Held To Maturity Securities [Line Items] | ||
HTM Fair Value Less than 12 months | $ 28,252 | $ 0 |
HTM Unrealized Losses Less than 12 months | 1,611 | 0 |
HTM Fair Value 12 months or more | 116,216 | 110,374 |
HTM Unrealized Losses 12 months or more | 16,027 | 28,301 |
HTM Fair Value | 144,468 | 110,374 |
HTM Unrealized Losses | $ 17,638 | $ 28,301 |
INVESTMENT SECURITIES - ACL on
INVESTMENT SECURITIES - ACL on Debt Securities Held-To-Maturity (Detail) - USD ($) $ in Thousands | Sep. 01, 2020 | Jan. 01, 2020 | Dec. 31, 2020 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | |||
Beginning Balance | $ 0 | $ 0 | |
Initial allowance on PCD debt securities | $ 1,269 | ||
Ending Balance | 8,845 | ||
ASC 326 [Member] | |||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | |||
Ending Balance | 8,134 | ||
ASC 326 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | |||
Ending Balance | 8,134 | ||
Municipal Bonds [Member] | PUERTO RICO | |||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | |||
Beginning Balance | 0 | 0 | |
Initial allowance on PCD debt securities | $ 1,300 | 1,269 | |
Ending Balance | 8,845 | ||
Municipal Bonds [Member] | PUERTO RICO | ASC 326 [Member] | 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 | $ 8,134 | ||
Municipal Bonds [Member] | Held-to-maturity Securities [Member] | PUERTO RICO | |||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | |||
Provision for credit loss expense | $ (558) |
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 ($) |
Investments, Debt and Equity Securities [Abstract] | |
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 |
INVESTMENT SECURITIES - Debt Se
INVESTMENT SECURITIES - Debt Securities Held-to-Maturity by Credit Quality Indicator (Detail) - Municipal Bonds [Member] - PUERTO RICO - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Schedule Of Held To Maturity Securities [Line Items] | ||
Held To Maturity Securities Amortized | $ 189,488 | $ 138,675 |
Pass [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held To Maturity Securities Amortized | 189,488 | 138,675 |
Special Mention [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held To Maturity Securities Amortized | 0 | 0 |
Substandard [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held To Maturity Securities Amortized | 0 | 0 |
Doubtful [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held To Maturity Securities Amortized | 0 | 0 |
Loss [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held To Maturity Securities Amortized | $ 0 | $ 0 |
EQUITY SECURITIES - Additional
EQUITY SECURITIES - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Summary of Investment Holdings [Line Items] | |||
Capital stock par value | $ 100 | ||
Book value of investment in FHLB stock | $ 31,200 | $ 34,100 | |
Market-to-market gains (losses) | 41,834 | 39,909 | $ 32,742 |
Equity Securities [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Equity Securities | 1,500 | 1,400 | |
Market-to-market gains (losses) | 38 | 4 | (9) |
Equity Securities without Readily Determinable Fair Value, Amount | 4,900 | 2,800 | |
Investment in Federal Home Loan Bank Stock [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Dividend income from FHLB stock | $ 2,000 | $ 2,700 | $ 2,100 |
INTEREST AND DIVIDEND ON INVE_3
INTEREST AND DIVIDEND ON INVESTMENTS- Interest on investments and FHLB dividend income (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Other Income And Expenses [Line Items] | |||
Mortgage-backed securities | $ 40,281 | $ 37,044 | $ 36,429 |
PR Government obligations, U.S. Treasury securities and U.S. Government agencies | 16,267 | 19,788 | 21,052 |
Total Intesrest income investment securities | 58,547 | 59,546 | 60,224 |
Interest on money market investments and interest-bearing cash accounts | 3,388 | 13,353 | 11,096 |
Total interest and dividends on investments | 61,935 | 72,899 | 71,320 |
Taxable [Member] | |||
Other Income And Expenses [Line Items] | |||
Mortgage-backed securities | 9,404 | 7,812 | 8,688 |
PR Government obligations, U.S. Treasury securities and U.S. Government agencies | 1,032 | 165 | 470 |
Other investment securities (including FHLB dividends) | 1,999 | 2,714 | 2,743 |
Interest on money market investments and interest-bearing cash accounts | 3,386 | 13,205 | 10,863 |
Exempt [Member] | |||
Other Income And Expenses [Line Items] | |||
Mortgage-backed securities | 30,877 | 29,232 | 27,741 |
PR Government obligations, U.S. Treasury securities and U.S. Government agencies | 15,235 | 19,623 | 20,582 |
Interest on money market investments and interest-bearing cash accounts | $ 2 | $ 148 | $ 233 |
INTEREST AND DIVIDEND ON INVE_4
INTEREST AND DIVIDEND ON INVESTMENTS- Components of interest and dividend income on investments (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Components of interest and dividend income on investments [Abstract] | |||
Interest income on investment securities, money market investments, and interest-bearing cash accounts | $ 59,976 | $ 70,217 | $ 68,592 |
Dividends on FHLB stock | 1,959 | 2,682 | 2,728 |
Total interest and dividends on investments | $ 61,935 | $ 72,899 | $ 71,320 |
LOANS HELD FOR INVESTMENT - Loa
LOANS HELD FOR INVESTMENT - Loan Portfolio Held for Investment (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Loans held for investment | $ 11,777,289 | $ 9,002,205 | ||
Allowance for credit losses on loans and finance leases | 385,887 | 155,139 | $ 196,362 | $ 231,843 |
Loans, net of allowance for credit losses | 11,391,402 | 8,847,066 | ||
Residential Portfolio Segment [Member] | ||||
Loans held for investment | 3,521,954 | 2,933,773 | ||
Allowance for credit losses on loans and finance leases | 120,311 | 44,806 | 50,794 | 58,975 |
Commercial Portfolio Segment [Member] | Commercial and Industrial loans [Member] | ||||
Loans held for investment | 3,202,590 | 2,230,876 | ||
Allowance for credit losses on loans and finance leases | 37,944 | 15,198 | 32,546 | 48,871 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Loans held for investment | 2,230,602 | 1,444,586 | ||
Allowance for credit losses on loans and finance leases | 109,342 | 39,194 | 55,581 | 48,493 |
Commercial Portfolio Segment [Member] | Construction loans [Member] | ||||
Loans held for investment | 212,500 | 111,317 | ||
Allowance for credit losses on loans and finance leases | 5,380 | 2,370 | 3,592 | 4,522 |
Consumer Portfolio Segment [Member] | ||||
Loans held for investment | 2,609,643 | 2,281,653 | ||
Allowance for credit losses on loans and finance leases | $ 112,910 | $ 53,571 | $ 53,849 | $ 70,982 |
LOANS HELD FOR INVESTMENT - L_2
LOANS HELD FOR INVESTMENT - Loan Portfolio Held for Investment (Parenthetical) (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Financing Receivable, before Allowance for Credit Loss | $ 11,777,289 | $ 9,002,205 |
Unaccreted fair value net purchase discounts | 48,000 | 15,100 |
Commercial Portfolio Segment [Member] | COVID-19 [Member] | US Government Insured Loan Program [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 406,000 | |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 3,202,590 | 2,230,876 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Commercial loans secured by real estate [Member] | ||
Financing Receivable, before Allowance for Credit Loss | $ 1,000,000 | $ 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 | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual Loans with No ACL | $ 46,736 | |
Nonaccrual Loans with ACL | 158,353 | |
Total Nonaccrual Loans | 205,089 | $ 210,668 |
Loans Past Due 90 days or more and Still Accruing | 145,095 | 135,042 |
Interest Income Recognized on Nonaccrual Loans | 2,029 | |
Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual Loans with No ACL | 43,591 | |
Nonaccrual Loans with ACL | 145,691 | |
Total Nonaccrual Loans | 189,282 | 196,383 |
Loans Past Due 90 days or more and Still Accruing | 144,845 | 134,913 |
Interest Income Recognized on Nonaccrual Loans | 1,653 | |
Florida region [Member} | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual Loans with No ACL | 3,145 | |
Nonaccrual Loans with ACL | 12,662 | |
Total Nonaccrual Loans | 15,807 | 14,285 |
Loans Past Due 90 days or more and Still Accruing | 250 | 129 |
Interest Income Recognized on Nonaccrual Loans | 376 | |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual Loans with No ACL | 15,002 | |
Nonaccrual Loans with ACL | 110,365 | |
Total Nonaccrual Loans | 125,367 | 121,408 |
Loans Past Due 90 days or more and Still Accruing | 38,834 | 40,208 |
Interest Income Recognized on Nonaccrual Loans | 1,335 | |
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 | 12,418 | |
Nonaccrual Loans with ACL | 98,527 | |
Total Nonaccrual Loans | 110,945 | 108,117 |
Loans Past Due 90 days or more and Still Accruing | 38,834 | 40,208 |
Interest Income Recognized on Nonaccrual Loans | 1,050 | |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Florida region [Member} | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual Loans with No ACL | 2,584 | |
Nonaccrual Loans with ACL | 11,838 | |
Total Nonaccrual Loans | 14,422 | 13,291 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 285 | |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual Loans with No ACL | 0 | |
Nonaccrual Loans with ACL | 0 | |
Total Nonaccrual Loans | 0 | 0 |
Loans Past Due 90 days or more and Still Accruing | 99,243 | 81,140 |
Interest Income Recognized on Nonaccrual Loans | 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 | |
Nonaccrual Loans with ACL | 0 | |
Total Nonaccrual Loans | 0 | 0 |
Loans Past Due 90 days or more and Still Accruing | 98,993 | 81,011 |
Interest Income Recognized on Nonaccrual Loans | 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 | |
Nonaccrual Loans with ACL | 0 | |
Total Nonaccrual Loans | 0 | 0 |
Loans Past Due 90 days or more and Still Accruing | 250 | 129 |
Interest Income Recognized on Nonaccrual Loans | 0 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member} | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual Loans with No ACL | 15,385 | |
Nonaccrual Loans with ACL | 5,496 | |
Total Nonaccrual Loans | 20,881 | 18,773 |
Loans Past Due 90 days or more and Still Accruing | 2,246 | 7,061 |
Interest Income Recognized on Nonaccrual Loans | 157 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member} | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual Loans with No ACL | 14,824 | |
Nonaccrual Loans with ACL | 5,496 | |
Total Nonaccrual Loans | 20,320 | 18,458 |
Loans Past Due 90 days or more and Still Accruing | 2,246 | 7,061 |
Interest Income Recognized on Nonaccrual Loans | 86 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member} | Florida region [Member} | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual Loans with No ACL | 561 | |
Nonaccrual Loans with ACL | 0 | |
Total Nonaccrual Loans | 561 | 315 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 71 | |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual Loans with No ACL | 11,777 | |
Nonaccrual Loans with ACL | 17,834 | |
Total Nonaccrual Loans | 29,611 | 40,076 |
Loans Past Due 90 days or more and Still Accruing | 3,252 | 2,222 |
Interest Income Recognized on Nonaccrual Loans | 194 | |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual Loans with No ACL | 11,777 | |
Nonaccrual Loans with ACL | 17,834 | |
Total Nonaccrual Loans | 29,611 | 40,076 |
Loans Past Due 90 days or more and Still Accruing | 3,252 | 2,222 |
Interest Income Recognized on Nonaccrual Loans | 194 | |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Florida region [Member} | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual Loans with No ACL | 0 | |
Nonaccrual Loans with ACL | 0 | |
Total Nonaccrual Loans | 0 | 0 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 0 | |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual Loans with No ACL | 4,546 | |
Nonaccrual Loans with ACL | 8,425 | |
Total Nonaccrual Loans | 12,971 | 9,782 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 80 | |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual Loans with No ACL | 4,546 | |
Nonaccrual Loans with ACL | 8,425 | |
Total Nonaccrual Loans | 12,971 | 9,782 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 80 | |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Florida region [Member} | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual Loans with No ACL | 0 | |
Nonaccrual Loans with ACL | 0 | |
Total Nonaccrual Loans | 0 | 0 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 0 | |
Consumer Portfolio Segment [Member] | Auto loans [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual Loans with No ACL | 26 | |
Nonaccrual Loans with ACL | 8,861 | |
Total Nonaccrual Loans | 8,887 | 12,220 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 176 | |
Consumer Portfolio Segment [Member] | Auto loans [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual Loans with No ACL | 26 | |
Nonaccrual Loans with ACL | 8,638 | |
Total Nonaccrual Loans | 8,664 | 12,057 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 164 | |
Consumer Portfolio Segment [Member] | Auto loans [Member] | Florida region [Member} | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual Loans with No ACL | 0 | |
Nonaccrual Loans with ACL | 223 | |
Total Nonaccrual Loans | 223 | 163 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 12 | |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual Loans with No ACL | 0 | |
Nonaccrual Loans with ACL | 1,466 | |
Total Nonaccrual Loans | 1,466 | 1,354 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 25 | |
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 | |
Nonaccrual Loans with ACL | 1,466 | |
Total Nonaccrual Loans | 1,466 | 1,354 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 25 | |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | Florida region [Member} | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual Loans with No ACL | 0 | |
Nonaccrual Loans with ACL | 0 | |
Total Nonaccrual Loans | 0 | 0 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 0 | |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual Loans with No ACL | 0 | |
Nonaccrual Loans with ACL | 1,623 | |
Total Nonaccrual Loans | 1,623 | 1,528 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 49 | |
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 | |
Nonaccrual Loans with ACL | 1,623 | |
Total Nonaccrual Loans | 1,623 | 1,523 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 49 | |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | Florida region [Member} | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual Loans with No ACL | 0 | |
Nonaccrual Loans with ACL | 0 | |
Total Nonaccrual Loans | 0 | 5 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 0 | |
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual Loans with No ACL | 0 | |
Nonaccrual Loans with ACL | 0 | |
Total Nonaccrual Loans | 0 | 0 |
Loans Past Due 90 days or more and Still Accruing | 1,520 | 4,411 |
Interest Income Recognized on Nonaccrual Loans | 0 | |
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual Loans with No ACL | 0 | |
Nonaccrual Loans with ACL | 0 | |
Total Nonaccrual Loans | 0 | 0 |
Loans Past Due 90 days or more and Still Accruing | 1,520 | 4,411 |
Interest Income Recognized on Nonaccrual Loans | 0 | |
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | Florida region [Member} | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual Loans with No ACL | 0 | |
Nonaccrual Loans with ACL | 0 | |
Total Nonaccrual Loans | 0 | 0 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 0 | |
Consumer Portfolio Segment [Member] | Other Loans [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual Loans with No ACL | 0 | |
Nonaccrual Loans with ACL | 4,283 | |
Total Nonaccrual Loans | 4,283 | 5,527 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 13 | |
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 | |
Nonaccrual Loans with ACL | 3,682 | |
Total Nonaccrual Loans | 3,682 | 5,016 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 5 | |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Florida region [Member} | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual Loans with No ACL | 0 | |
Nonaccrual Loans with ACL | 601 | |
Total Nonaccrual Loans | 601 | 511 |
Loans Past Due 90 days or more and Still Accruing | 0 | $ 0 |
Interest Income Recognized on Nonaccrual Loans | $ 8 |
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 | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Financing Receivable Modifications [Line Items] | |||
Financing Receivable, before Allowance for Credit Loss | $ 11,777,289 | $ 9,002,205 | |
Financing Receivable, 90 Days or More Past Due, Still Accruing | 145,095 | 135,042 | |
PR And VI [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Financing Receivable, before Allowance for Credit Loss | 9,788,106 | 7,128,277 | |
Financing Receivable, 90 Days or More Past Due, Still Accruing | 144,845 | 134,913 | |
U S [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Financing Receivable, before Allowance for Credit Loss | 1,989,183 | 1,873,928 | |
Financing Receivable, 90 Days or More Past Due, Still Accruing | 250 | 129 | |
Residential Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Financing Receivable, before Allowance for Credit Loss | 3,521,954 | 2,933,773 | |
Financing Receivable, Purchase | 800 | 18,800 | $ 46,100 |
Residential Portfolio Segment [Member] | PR And VI [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Financing Receivable, before Allowance for Credit Loss | 3,002,203 | 2,367,587 | |
Residential Portfolio Segment [Member] | U S [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Financing Receivable, before Allowance for Credit Loss | 519,751 | 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 | 10,700 | 35,300 | |
Financing Receivable, Purchase | 55,000 | 33,500 | $ 49,100 |
Residential Portfolio Segment [Member] | GNMA [Member] | Repurchase Option Program [Member] | PR And VI [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Financing Receivable, 90 Days or More Past Due, Still Accruing | 10,700 | 35,300 | |
Financing Receivable, Purchase | 55,000 | ||
PCD loans [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Financing Receivable, before Allowance for Credit Loss | 130,900 | 136,700 | |
PCD loans [Member] | PR And VI [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Financing Receivable, before Allowance for Credit Loss | 130,900 | 136,700 | |
Accrual Status [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Financing Receivable, Troubled Debt Restructuring | 393,300 | 398,300 | |
Accrual Status [Member] | PR And VI [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Financing Receivable, Troubled Debt Restructuring | 386,700 | 388,400 | |
Accrual Status [Member] | U S [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Financing Receivable, Troubled Debt Restructuring | $ 6,600 | $ 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 | Dec. 31, 2020 | Dec. 31, 2019 |
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | $ 498,303 | $ 508,378 |
Current | 11,278,986 | 8,493,827 |
Loans held for investment | 11,777,289 | 9,002,205 |
Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 477,726 | 488,879 |
Current | 9,310,380 | 6,639,398 |
Loans held for investment | 9,788,106 | 7,128,277 |
Florida region [Member} | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 20,577 | 19,499 |
Current | 1,968,606 | 1,854,429 |
Loans held for investment | 1,989,183 | 1,873,928 |
30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 48,129 | 55,640 |
30-59 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 47,143 | 53,892 |
30-59 Days Past Due [Member] | Florida region [Member} | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 986 | 1,748 |
60-89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 99,990 | 107,028 |
60-89 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 96,456 | 103,691 |
60-89 Days Past Due [Member] | Florida region [Member} | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 3,534 | 3,337 |
90 days or more Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 350,184 | 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 | 334,127 | 331,296 |
90 days or more Past Due [Member] | Florida region [Member} | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 16,057 | 14,414 |
Residential Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 3,521,954 | 2,933,773 |
Residential Portfolio Segment [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 3,002,203 | 2,367,587 |
Residential Portfolio Segment [Member] | Florida region [Member} | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 519,751 | 566,186 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 228,478 | 247,117 |
Current | 3,142,742 | 2,562,747 |
Loans held for investment | 3,371,220 | 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 | 210,819 | 231,633 |
Current | 2,641,820 | 2,013,525 |
Loans held for investment | 2,852,639 | 2,245,158 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Florida region [Member} | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 17,659 | 15,484 |
Current | 500,922 | 549,222 |
Loans held for investment | 518,581 | 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 | 111,800 | 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 | 105,200 | 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 | 6,600 | 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 | 64,277 | 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 | 61,040 | 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 | 3,237 | 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 | 164,201 | 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 | 149,779 | 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 | 14,422 | 13,291 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 101,466 | 83,208 |
Current | 49,268 | 40,701 |
Loans held for investment | 150,734 | 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 | 101,216 | 83,079 |
Current | 48,348 | 39,350 |
Loans held for investment | 149,564 | 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 | 920 | 1,351 |
Loans held for investment | 1,170 | 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 | 6,100 | 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 | 5,900 | 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 | 200 | 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 | 2,223 | 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 | 2,223 | 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 | 99,243 | 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 | 98,993 | 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 | 37,320 | 27,724 |
Current | 3,165,270 | 2,203,152 |
Loans held for investment | 3,202,590 | 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 | 36,541 | 27,078 |
Current | 2,228,190 | 1,364,335 |
Loans held for investment | 2,264,731 | 1,391,413 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Florida region [Member} | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 779 | 646 |
Current | 937,080 | 838,817 |
Loans held for investment | 937,859 | 839,463 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 3,501 | 1,785 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | 30-59 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 3,283 | 1,454 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | 30-59 Days Past Due [Member] | Florida region [Member} | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 218 | 331 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 10,692 | 105 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | 60-89 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 10,692 | 105 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [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] | Commercial And Industrial Sector [Member] | 90 days or more Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 23,127 | 25,834 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | 90 days or more Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 22,566 | 25,519 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | 90 days or more Past Due [Member] | Florida region [Member} | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 561 | 315 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 44,522 | 45,849 |
Current | 2,186,080 | 1,398,737 |
Loans held for investment | 2,230,602 | 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 | 44,522 | 44,979 |
Current | 1,808,702 | 1,034,921 |
Loans held for investment | 1,853,224 | 1,079,900 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Florida region [Member} | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 870 |
Current | 377,378 | 363,816 |
Loans held for investment | 377,378 | 364,686 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 5,071 | 0 |
Loans held for investment | 5,000 | 6,600 |
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] | ||
Total Past Due | 5,071 | 0 |
Loans held for investment | 5,000 | 6,000 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [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 | 600 | |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 6,588 | 3,551 |
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] | ||
Total Past Due | 6,588 | 2,681 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | 60-89 Days Past Due [Member] | Florida region [Member} | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 870 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | 90 days or more Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 32,863 | 42,298 |
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] | ||
Total Past Due | 32,863 | 42,298 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | 90 days or more Past Due [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 | 12,990 | 9,887 |
Current | 199,510 | 101,430 |
Loans held for investment | 212,500 | 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 | 12,990 | 9,887 |
Current | 72,026 | 38,359 |
Loans held for investment | 85,016 | 48,246 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Florida region [Member} | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Current | 127,484 | 63,071 |
Loans held for investment | 127,484 | 63,071 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Loans held for investment | 100 | 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 | 0 | 0 |
Loans held for investment | 100 | 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 | 0 | 0 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 19 | 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 | 19 | 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 | 12,971 | 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 | 12,971 | 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 | 2,609,643 | 2,281,653 |
Consumer Portfolio Segment [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 2,582,932 | 2,241,131 |
Consumer Portfolio Segment [Member] | Florida region [Member} | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 26,711 | 40,522 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 39,911 | 57,192 |
Current | 1,256,513 | 1,077,663 |
Loans held for investment | 1,296,424 | 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 | 38,681 | 55,487 |
Current | 1,239,445 | 1,048,873 |
Loans held for investment | 1,278,126 | 1,104,360 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | Florida region [Member} | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,230 | 1,705 |
Current | 17,068 | 28,790 |
Loans held for investment | 18,298 | 30,495 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 24,735 | 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 | 24,025 | 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 | 710 | 1,270 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 6,289 | 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 | 5,992 | 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 | 297 | 272 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | 90 days or more Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 8,887 | 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 | 8,664 | 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 | 223 | 163 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 7,611 | 9,257 |
Current | 465,378 | 405,275 |
Loans held for investment | 472,989 | 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 | 7,611 | 9,257 |
Current | 465,378 | 405,275 |
Loans held for investment | 472,989 | 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 | 5,059 | 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 | 5,059 | 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 | 1,086 | 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 | 1,086 | 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 | 1,466 | 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 | 1,466 | 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 | 7,638 | 7,620 |
Current | 364,530 | 267,255 |
Loans held for investment | 372,168 | 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 | 7,638 | 7,615 |
Current | 364,373 | 266,478 |
Loans held for investment | 372,011 | 274,093 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | Florida region [Member} | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 5 |
Current | 157 | 777 |
Loans held for investment | 157 | 782 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 4,034 | 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 | 4,034 | 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 | 1,981 | 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 | 1,981 | 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 | 1,623 | 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 | 1,623 | 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 Card Receivables [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 10,888 | 9,403 |
Current | 308,936 | 282,887 |
Loans held for investment | 319,824 | 292,290 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 10,888 | 9,403 |
Current | 308,936 | 282,887 |
Loans held for investment | 319,824 | 292,290 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [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 Card Receivables [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 3,528 | 2,896 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | 30-59 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 3,528 | 2,896 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [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 Card Receivables [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 5,842 | 2,096 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | 60-89 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 5,842 | 2,096 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [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 Card Receivables [Member] | 90 days or more Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,518 | 4,411 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | 90 days or more Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,518 | 4,411 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [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 | 7,479 | 11,121 |
Current | 140,759 | 153,980 |
Loans held for investment | 148,238 | 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 | 6,820 | 10,461 |
Current | 133,162 | 145,395 |
Loans held for investment | 139,982 | 155,856 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Florida region [Member} | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 659 | 660 |
Current | 7,597 | 8,585 |
Loans held for investment | 8,256 | 9,245 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 2,201 | 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 | 2,143 | 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 | 58 | 147 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 993 | 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 | 993 | 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 | 4,285 | 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 | 3,684 | 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 | $ 601 | $ 511 |
LOANS HELD FOR INVESTMENT - C_4
LOANS HELD FOR INVESTMENT - Corporation's Aging of Loans Held for Investment Portfolio (Parenthetical) (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Financing Receivable, Past Due [Line Items] | ||
Current | $ 11,278,986,000 | $ 8,493,827,000 |
Financing Receivable, Past Due | 498,303,000 | 508,378,000 |
Loans held for investment | 11,777,289,000 | 9,002,205,000 |
Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Current | 9,310,380,000 | 6,639,398,000 |
Financing Receivable, Past Due | 477,726,000 | 488,879,000 |
Loans held for investment | 9,788,106,000 | 7,128,277,000 |
Florida region [Member} | ||
Financing Receivable, Past Due [Line Items] | ||
Current | 1,968,606,000 | 1,854,429,000 |
Financing Receivable, Past Due | 20,577,000 | 19,499,000 |
Loans held for investment | 1,989,183,000 | 1,873,928,000 |
30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 48,129,000 | 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 | 47,143,000 | 53,892,000 |
30-59 Days Past Due [Member] | Florida region [Member} | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | $ 986,000 | 1,748,000 |
Residential Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Threshold Period Past Due, Writeoff | 180 days | |
Loans held for investment | $ 3,521,954,000 | 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 | 3,002,203,000 | 2,367,587,000 |
Residential Portfolio Segment [Member] | Florida region [Member} | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 519,751,000 | 566,186,000 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Current | 3,142,742,000 | 2,562,747,000 |
Financing Receivable, Past Due | 228,478,000 | 247,117,000 |
Loans held for investment | 3,371,220,000 | 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 | 2,641,820,000 | 2,013,525,000 |
Financing Receivable, Past Due | 210,819,000 | 231,633,000 |
Loans held for investment | 2,852,639,000 | 2,245,158,000 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Florida region [Member} | ||
Financing Receivable, Past Due [Line Items] | ||
Current | 500,922,000 | 549,222,000 |
Financing Receivable, Past Due | 17,659,000 | 15,484,000 |
Loans held for investment | 518,581,000 | 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 | 111,800,000 | 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 | 105,200,000 | 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 | 6,600,000 | 5,800,000 |
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 | $ 57,900,000 | $ 37,900,000 |
Period of residential mortgage loan that are no longer accruing interest | 15 months | 15 months |
Current | $ 49,268,000 | $ 40,701,000 |
Financing Receivable, Past Due | 101,466,000 | 83,208,000 |
Loans held for investment | 150,734,000 | 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 | $ 57,900,000 | $ 37,900,000 |
Period of residential mortgage loan that are no longer accruing interest | 15 months | 15 months |
Current | $ 48,348,000 | $ 39,350,000 |
Financing Receivable, Past Due | 101,216,000 | 83,079,000 |
Loans held for investment | 149,564,000 | 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 | $ 920,000 | $ 1,351,000 |
Financing Receivable, Past Due | 250,000 | 129,000 |
Loans held for investment | 1,170,000 | 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 | 6,100,000 | 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 | 5,900,000 | 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 | 200,000 | 400,000 |
Residential Portfolio Segment [Member] | GNMA [Member] | Repurchase Option Program [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 10,700,000 | 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 | 10,700,000 | 35,600,000 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Current | 2,186,080,000 | 1,398,737,000 |
Financing Receivable, Past Due | 44,522,000 | 45,849,000 |
Loans held for investment | 2,230,602,000 | 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 | 1,808,702,000 | 1,034,921,000 |
Financing Receivable, Past Due | 44,522,000 | 44,979,000 |
Loans held for investment | 1,853,224,000 | 1,079,900,000 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Florida region [Member} | ||
Financing Receivable, Past Due [Line Items] | ||
Current | 377,378,000 | 363,816,000 |
Financing Receivable, Past Due | 0 | 870,000 |
Loans held for investment | 377,378,000 | 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 | 5,071,000 | 0 |
Loans held for investment | 5,000,000 | 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 | 5,071,000 | 0 |
Loans held for investment | 5,000,000 | 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 | 0 | 0 |
Loans held for investment | 600,000 | |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Current | 199,510,000 | 101,430,000 |
Financing Receivable, Past Due | 12,990,000 | 9,887,000 |
Loans held for investment | 212,500,000 | 111,317,000 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Current | 72,026,000 | 38,359,000 |
Financing Receivable, Past Due | 12,990,000 | 9,887,000 |
Loans held for investment | 85,016,000 | 48,246,000 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Florida region [Member} | ||
Financing Receivable, Past Due [Line Items] | ||
Current | 127,484,000 | 63,071,000 |
Financing Receivable, Past Due | 0 | 0 |
Loans held for investment | 127,484,000 | 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 | 0 | 0 |
Loans held for investment | 100,000 | 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 | 0 | 0 |
Loans held for investment | 100,000 | 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 | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 2,609,643,000 | 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 | 2,582,932,000 | 2,241,131,000 |
Consumer Portfolio Segment [Member] | Florida region [Member} | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | $ 26,711,000 | $ 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 |
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 | Dec. 31, 2020 | Dec. 31, 2019 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans held for investment | $ 11,777,289 | $ 9,002,205 |
Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans held for investment | 9,788,106 | 7,128,277 |
Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans held for investment | 1,989,183 | 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 | 860,995 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 719,940 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 347,149 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 330,144 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 120,716 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 289,393 | |
Financing Receivable, Revolving | 534,253 | |
Loans held for investment | 3,202,590 | 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 | 644,355 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 396,400 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 240,679 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 245,514 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 110,978 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 241,554 | |
Financing Receivable, Revolving | 385,251 | |
Loans held for investment | 2,264,731 | 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 | 216,640 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 323,540 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 106,470 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 84,630 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 9,738 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 47,839 | |
Financing Receivable, Revolving | 149,002 | |
Loans held for investment | 937,859 | 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 | 817,880 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 659,892 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 332,333 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 311,099 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 119,038 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 232,923 | |
Financing Receivable, Revolving | 505,185 | |
Loans held for investment | 2,978,350 | 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 | 642,966 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 395,232 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 237,958 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 226,469 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 109,300 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 186,781 | |
Financing Receivable, Revolving | 356,520 | |
Loans held for investment | 2,155,226 | 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 | 174,914 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 264,660 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 94,375 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 84,630 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 9,738 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 46,142 | |
Financing Receivable, Revolving | 148,665 | |
Loans held for investment | 823,124 | 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 | 2,999 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 59,335 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 12,095 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 827 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 68 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 30,335 | |
Financing Receivable, Revolving | 27,736 | |
Loans held for investment | 133,395 | 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 | 455 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 827 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 68 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 30,335 | |
Financing Receivable, Revolving | 27,736 | |
Loans held for investment | 59,421 | 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 | 2,999 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 58,880 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 12,095 | |
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 | 73,974 | 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 | 40,116 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 713 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,721 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 18,218 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,610 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 26,135 | |
Financing Receivable, Revolving | 1,332 | |
Loans held for investment | 90,845 | 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 | 1,389 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 713 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,721 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 18,218 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,610 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 24,438 | |
Financing Receivable, Revolving | 995 | |
Loans held for investment | 50,084 | 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 | 38,727 | |
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 | 1,697 | |
Financing Receivable, Revolving | 337 | |
Loans held for investment | 40,761 | 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 | 449,267 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 451,177 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 319,798 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 359,394 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 191,955 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 429,928 | |
Financing Receivable, Revolving | 29,083 | |
Loans held for investment | 2,230,602 | 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 | 384,035 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 346,296 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 273,075 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 302,311 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 153,143 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 393,831 | |
Financing Receivable, Revolving | 533 | |
Loans held for investment | 1,853,224 | 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 | 65,232 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 104,881 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 46,723 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 57,083 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 38,812 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 36,097 | |
Financing Receivable, Revolving | 28,550 | |
Loans held for investment | 377,378 | 364,686 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 432,276 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 345,660 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 241,285 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 234,789 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 171,764 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 353,452 | |
Financing Receivable, Revolving | 24,228 | |
Loans held for investment | 1,803,454 | 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 | 383,847 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 264,499 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 201,344 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 183,056 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 143,673 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 334,875 | |
Financing Receivable, Revolving | 533 | |
Loans held for investment | 1,511,827 | 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 | 48,429 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 81,161 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 39,941 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 51,733 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 28,091 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 18,577 | |
Financing Receivable, Revolving | 23,695 | |
Loans held for investment | 291,627 | 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 | 16,803 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 105,517 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 78,513 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 124,605 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 19,487 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 28,383 | |
Financing Receivable, Revolving | 4,855 | |
Loans held for investment | 378,163 | 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 | 81,797 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 71,731 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 119,255 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 8,766 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 11,187 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 292,736 | 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 | 16,803 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 23,720 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 6,782 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 5,350 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 10,721 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 17,196 | |
Financing Receivable, Revolving | 4,855 | |
Loans held for investment | 85,427 | 0 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 188 | |
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 | 704 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 48,093 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 48,985 | 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 | 188 | |
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 | 704 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 47,769 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 48,661 | 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 | 324 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 324 | 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 | 74,489 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 56,806 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 49,870 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 15,825 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 7,189 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 7,490 | |
Financing Receivable, Revolving | 831 | |
Loans held for investment | 212,500 | 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 | 12,676 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 35,134 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 6,702 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 15,825 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 7,189 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 7,490 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 85,016 | 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 | 61,813 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 21,672 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 43,168 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 831 | |
Loans held for investment | 127,484 | 63,071 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 74,489 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 55,144 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 44,936 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 15,825 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,920 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 3,175 | |
Financing Receivable, Revolving | 831 | |
Loans held for investment | 196,320 | 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 | 12,676 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 33,472 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,768 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 15,825 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,920 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 3,175 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 68,836 | 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 | 61,813 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 21,672 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 43,168 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 831 | |
Loans held for investment | 127,484 | 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 | 776 | |
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 | 776 | 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 | 776 | |
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 | 776 | 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 | 4,934 | |
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 | 4,315 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 15,404 | 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 | 4,934 | |
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 | 4,315 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 15,404 | 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 | Dec. 31, 2020 | Dec. 31, 2019 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans held for investment | $ 11,777,289 | $ 9,002,205 |
Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans held for investment | 9,788,106 | 7,128,277 |
Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans held for investment | 1,989,183 | 1,873,928 |
Residential Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 82,522 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 124,261 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 180,927 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 169,816 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 202,665 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,761,763 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 3,521,954 | 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 | 39,911 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 71,663 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 117,519 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 78,018 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 121,758 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,573,334 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 3,002,203 | 2,367,587 |
Residential Portfolio Segment [Member] | Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 42,611 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 52,598 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 63,408 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 91,798 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 80,907 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 188,429 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 519,751 | 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 | 278 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,416 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,594 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 4,639 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 9,673 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 131,134 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 150,734 | 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 | 278 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,416 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,594 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 4,354 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 9,673 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 130,249 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 149,564 | 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 | 285 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 885 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 1,170 | 1,480 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans held for investment | 3,371,220 | 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 | 2,852,639 | 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 | 518,581 | 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 | 71,830 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 111,765 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 161,738 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 152,655 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 166,880 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,861,719 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 2,526,587 | 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 | 37,989 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 61,202 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 101,157 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 65,334 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 88,292 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,675,203 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 2,029,177 | 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 | 33,841 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 50,563 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 60,581 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 87,321 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 78,588 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 186,516 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 497,410 | 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 | 10,414 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 9,141 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 11,146 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 9,757 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 18,750 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 687,012 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 746,220 | 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 | 1,644 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 7,106 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 8,319 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 5,565 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 16,431 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 685,984 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 725,049 | 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 | 8,770 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,035 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,827 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 4,192 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 2,319 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,028 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 21,171 | 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 | 939 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 5,449 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 2,765 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 7,362 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 81,898 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 98,413 | 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 | 939 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 5,449 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 2,765 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 7,362 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 81,898 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 98,413 | 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 | Dec. 31, 2020 | Dec. 31, 2019 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans held for investment | $ 11,777,289 | $ 9,002,205 |
Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans held for investment | 9,788,106 | 7,128,277 |
Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans held for investment | 1,989,183 | 1,873,928 |
Residential Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 82,522 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 124,261 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 180,927 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 169,816 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 202,665 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,761,763 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 3,521,954 | 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 | 39,911 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 71,663 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 117,519 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 78,018 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 121,758 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,573,334 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 3,002,203 | 2,367,587 |
Residential Portfolio Segment [Member] | Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 42,611 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 52,598 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 63,408 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 91,798 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 80,907 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 188,429 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 519,751 | 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 | 278 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,416 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,594 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 4,639 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 9,673 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 131,134 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 150,734 | 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 | 278 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,416 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,594 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 4,354 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 9,673 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 130,249 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 149,564 | 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 | 285 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 885 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 1,170 | 1,480 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans held for investment | 3,371,220 | 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 | 2,852,639 | 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 | 518,581 | 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 | 46 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 77 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,973 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 55 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 74 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 326,295 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 329,520 | 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 | 46 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 77 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 464 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 55 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 74 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 325,474 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 326,190 | 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 | 2,509 | |
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 | 821 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 3,330 | 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 | 5,690 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 8,438 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 11,749 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 16,174 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 20,154 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 527,524 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 589,729 | 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 | 2,144 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 3,370 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 8,309 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 7,416 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 8,721 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 511,349 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 541,309 | 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 | 3,546 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 5,068 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 3,440 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 8,758 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 11,433 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 16,175 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 48,420 | 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 | 26,819 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 39,785 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 54,201 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 53,426 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 64,472 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 742,291 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 980,994 | 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 | 15,009 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 24,265 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 40,391 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 24,308 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 37,765 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 700,059 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 841,797 | 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 | 11,810 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 15,520 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 13,810 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 29,118 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 26,707 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 42,232 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 139,197 | 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 | 49,689 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 73,545 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 109,410 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 95,522 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 108,292 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,034,519 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 1,470,977 | 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 | 22,434 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 41,535 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 65,761 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 41,885 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 65,525 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 906,203 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 1,143,343 | 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 | 27,255 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 32,010 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 43,649 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 53,637 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 42,767 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 128,316 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | $ 327,634 | $ 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 | Dec. 31, 2020 | Dec. 31, 2019 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans held for investment | $ 11,777,289 | $ 9,002,205 |
Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans held for investment | 9,788,106 | 7,128,277 |
Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans held for investment | 1,989,183 | 1,873,928 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 699,324 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 757,912 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 444,137 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 199,023 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 110,159 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 65,162 | |
Financing Receivable, Revolving | 333,926 | |
Loans held for investment | 2,609,643 | 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 | 698,713 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 756,734 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 435,335 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 193,502 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 107,067 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 60,328 | |
Financing Receivable, Revolving | 331,253 | |
Loans held for investment | 2,582,932 | 2,241,131 |
Consumer Portfolio Segment [Member] | Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 611 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,178 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 8,802 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 5,521 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 3,092 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 4,834 | |
Financing Receivable, Revolving | 2,673 | |
Loans held for investment | 26,711 | 40,522 |
Consumer Portfolio Segment [Member] | Unscorable [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Revolving | 369 | |
Consumer Portfolio Segment [Member] | Auto loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 442,512 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 409,899 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 243,026 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 112,361 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 60,906 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 27,720 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 1,296,424 | 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 | 442,512 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 408,764 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 234,266 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 107,023 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 58,382 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 27,179 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 1,278,126 | 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 | 1,135 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 8,760 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 5,338 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 2,524 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 541 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 18,298 | 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 | 42,307 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 46,853 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 24,424 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 11,331 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 7,793 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 4,567 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 137,275 | 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 | 42,307 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 46,816 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 23,600 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 10,628 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 7,204 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 4,451 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 135,006 | 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 | 824 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 703 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 589 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 116 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 2,269 | 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 | 134,118 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 142,296 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 92,187 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 40,520 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 19,310 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 11,045 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 439,476 | 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 | 134,118 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 141,778 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 88,354 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 37,491 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 17,955 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 10,738 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 430,434 | 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 | 518 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 3,833 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 3,029 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,355 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 307 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 9,042 | 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 | 136,744 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 125,008 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 76,916 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 34,214 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 18,133 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 6,950 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 397,965 | 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 | 136,744 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 124,654 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 74,128 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 32,874 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 17,628 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 6,843 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 392,871 | 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 | 354 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,788 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,340 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 505 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 107 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 5,094 | 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 | 129,343 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 95,742 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 49,499 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 26,296 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 15,670 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 5,158 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 321,708 | 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 | 129,343 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 95,516 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 48,184 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 26,030 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 15,595 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 5,147 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 319,815 | 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 | 226 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,315 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 266 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 75 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 11 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 1,893 | 2,996 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 136,897 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 148,997 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 111,181 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 40,769 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 25,310 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 9,835 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 472,989 | 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 | 136,897 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 148,997 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 111,181 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 40,769 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 25,310 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 9,835 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 472,989 | 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 | 3,149 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 5,300 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 4,217 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,787 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 471 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 258 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 15,182 | 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 | 3,149 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 5,300 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 4,217 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,787 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 471 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 258 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 15,182 | 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 | 29,292 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 35,683 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 27,540 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 11,798 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 4,565 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,302 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 111,180 | 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 | 29,292 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 35,683 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 27,540 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 11,798 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 4,565 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,302 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 111,180 | 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 | 54,222 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 58,388 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 46,563 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 18,060 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 10,552 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 4,061 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 191,846 | 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 | 54,222 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 58,388 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 46,563 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 18,060 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 10,552 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 4,061 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 191,846 | 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 | 50,234 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 49,626 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 32,861 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 9,124 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 9,722 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 3,214 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 154,781 | 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 | 50,234 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 49,626 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 32,861 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 9,124 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 9,722 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 3,214 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 154,781 | 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 | 78,475 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 148,300 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 74,165 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 37,682 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 20,398 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 13,148 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 372,168 | 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 | 78,361 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 148,257 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 74,165 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 37,682 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 20,398 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 13,148 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 372,011 | 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 | 114 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 43 | |
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 | 157 | 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 | 1,893 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,641 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,097 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,292 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,008 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,126 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 11,057 | 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 | 1,791 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,636 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,097 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,292 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,008 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,126 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 10,950 | 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 | 102 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 5 | |
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 | 107 | 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 | 9,658 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 23,969 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 9,730 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 3,793 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,441 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,082 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 49,673 | 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 | 9,650 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 23,969 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 9,730 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 3,793 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,441 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,082 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 49,665 | 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 | 35,466 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 64,547 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 30,386 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 15,974 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 8,921 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 5,224 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 160,518 | 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 | 35,466 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 64,509 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 30,386 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 15,974 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 8,921 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 5,224 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 160,480 | 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 | 38 | |
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 | 38 | 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 | 30,785 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 55,421 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 31,084 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 16,144 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 8,794 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 4,398 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 146,626 | 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 | 30,781 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 55,421 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 31,084 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 16,144 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 8,794 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 4,398 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 146,622 | 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 | 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 | 4 | 71 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | Unscorable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 673 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,722 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 868 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 479 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 234 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 318 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 4,294 | 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 | 673 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,722 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 868 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 479 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 234 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 318 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 4,294 | |
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 Receivables [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 319,824 | |
Loans held for investment | 319,824 | 292,290 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 319,824 | |
Loans held for investment | 319,824 | 292,290 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 0 | 0 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | 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 | 12,978 | |
Loans held for investment | 12,978 | 11,247 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [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 | 12,978 | |
Loans held for investment | 12,978 | 11,247 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [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 Receivables [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 | 60,961 | |
Loans held for investment | 60,961 | 57,643 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [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 | 60,961 | |
Loans held for investment | 60,961 | 57,643 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [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 Receivables [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 | 137,563 | |
Loans held for investment | 137,563 | 126,977 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [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 | 137,563 | |
Loans held for investment | 137,563 | 126,977 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [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 Receivables [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 | 103,938 | |
Loans held for investment | 103,938 | 96,423 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [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 | 103,938 | |
Loans held for investment | 103,938 | 96,423 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [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 Receivables [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 | 4,384 | |
Loans held for investment | 4,384 | 0 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [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 | 4,384 | |
Loans held for investment | 4,384 | 0 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 41,440 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 50,716 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 15,765 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 8,211 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 3,545 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 14,459 | |
Financing Receivable, Revolving | 14,102 | |
Loans held for investment | 148,238 | 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 | 40,943 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 50,716 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 15,723 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 8,028 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 2,977 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 10,166 | |
Financing Receivable, Revolving | 11,429 | |
Loans held for investment | 139,982 | 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 | 497 | |
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 | 183 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 568 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 4,293 | |
Financing Receivable, Revolving | 2,673 | |
Loans held for investment | 8,256 | 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 | 4,815 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 10,358 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,760 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,699 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 601 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 377 | |
Financing Receivable, Revolving | 3,294 | |
Loans held for investment | 23,904 | 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 | 4,815 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 10,358 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,760 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,699 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 601 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 377 | |
Financing Receivable, Revolving | 3,130 | |
Loans held for investment | 23,740 | 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 | 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 | 164 | |
Loans held for investment | 164 | 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 | 18,631 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 23,746 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 7,059 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 3,725 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,435 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 6,439 | |
Financing Receivable, Revolving | 1,655 | |
Loans held for investment | 62,690 | 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 | 18,443 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 23,746 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 7,059 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 3,616 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,408 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 5,829 | |
Financing Receivable, Revolving | 1,566 | |
Loans held for investment | 61,667 | 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 | 188 | |
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 | 27 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 610 | |
Financing Receivable, Revolving | 89 | |
Loans held for investment | 1,023 | 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 | 13,593 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 13,031 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 4,785 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 2,192 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,075 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 3,000 | |
Financing Receivable, Revolving | 3,106 | |
Loans held for investment | 40,782 | 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 | 13,415 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 13,031 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 4,743 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 2,142 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 753 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,906 | |
Financing Receivable, Revolving | 2,612 | |
Loans held for investment | 38,602 | 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 | 178 | |
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 | 322 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,094 | |
Financing Receivable, Revolving | 494 | |
Loans held for investment | 2,180 | 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 | 4,401 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 3,581 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,161 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 595 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 434 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,998 | |
Financing Receivable, Revolving | 3,254 | |
Loans held for investment | 16,424 | 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 | 4,270 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 3,581 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,161 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 571 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 215 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 409 | |
Financing Receivable, Revolving | 1,328 | |
Loans held for investment | 11,535 | 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 | 131 | |
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 | 24 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 219 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,589 | |
Financing Receivable, Revolving | 1,926 | |
Loans held for investment | 4,889 | 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 | 1,645 | |
Financing Receivable, Revolving | 2,793 | |
Loans held for investment | 4,438 | 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 | 1,645 | |
Financing Receivable, Revolving | 2,793 | |
Loans held for investment | 4,438 | 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 INVESTEMNT - Col
LOANS HELD FOR INVESTEMNT - Collateral Dependent Lons Individually Evaluated For Purposes of Determing the ACL (Detail) - Collateral Pledged [Member] $ in Thousands | Dec. 31, 2020USD ($) |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | $ 154,276 |
Related Specific Allowance | 14,071 |
Amortized Cost no ACL | 92,527 |
Amortized Cost | 246,803 |
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 | 107,174 |
Related Specific Allowance | 10,570 |
Amortized Cost no ACL | 9,545 |
Amortized Cost | 116,719 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 21,933 |
Related Specific Allowance | 880 |
Amortized Cost no ACL | 25,289 |
Amortized Cost | 47,222 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 17,882 |
Related Specific Allowance | 1,923 |
Amortized Cost no ACL | 51,568 |
Amortized Cost | 69,450 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 6,036 |
Related Specific Allowance | 500 |
Amortized Cost no ACL | 6,125 |
Amortized Cost | 12,161 |
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 | 2 |
Amortized Cost no ACL | 0 |
Amortized Cost | 146 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [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 | 1,105 |
Related Specific Allowance | 196 |
Amortized Cost no ACL | 0 |
Amortized Cost | 1,105 |
PR And VI [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 147,804 |
Related Specific Allowance | 13,000 |
Amortized Cost no ACL | 87,239 |
Amortized Cost | 235,043 |
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 | 100,950 |
Related Specific Allowance | 9,582 |
Amortized Cost no ACL | 7,145 |
Amortized Cost | 108,095 |
PR And VI [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 21,933 |
Related Specific Allowance | 880 |
Amortized Cost no ACL | 24,728 |
Amortized Cost | 46,661 |
PR And VI [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 17,882 |
Related Specific Allowance | 1,923 |
Amortized Cost no ACL | 49,241 |
Amortized Cost | 67,123 |
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 | 500 |
Amortized Cost no ACL | 6,125 |
Amortized Cost | 12,161 |
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 | 2 |
Amortized Cost no ACL | 0 |
Amortized Cost | 146 |
PR And VI [Member] | Consumer Portfolio Segment [Member] | Credit Card Receivables [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 | 857 |
Related Specific Allowance | 113 |
Amortized Cost no ACL | 0 |
Amortized Cost | 857 |
FL | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 6,472 |
Related Specific Allowance | 1,071 |
Amortized Cost no ACL | 5,288 |
Amortized Cost | 11,760 |
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 | 6,224 |
Related Specific Allowance | 988 |
Amortized Cost no ACL | 2,400 |
Amortized Cost | 8,624 |
FL | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 0 |
Related Specific Allowance | 0 |
Amortized Cost no ACL | 561 |
Amortized Cost | 561 |
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 | 2,327 |
Amortized Cost | 2,327 |
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 Receivables [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 | 83 |
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 te Purchase Price (Detail) - USD ($) $ in Thousands | Sep. 01, 2020 | Jan. 01, 2020 |
Purchase price of loans at acquisition (initial fair value) | $ 752,826 | |
Allowance established for acquired PCD loans | 28,744 | $ 28,700 |
Financing Receivable, Purchased with Credit Deterioration, Discount (Premium) | 4,479 | |
Par value of acquired loans at acquisition | 786,049 | |
Residential Portfolio Segment [Member] | ||
Purchase price of loans at acquisition (initial fair value) | 322,345 | |
Allowance established for acquired PCD loans | 12,739 | |
Financing Receivable, Purchased with Credit Deterioration, Discount (Premium) | 3,075 | |
Par value of acquired loans at acquisition | 338,159 | |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||
Purchase price of loans at acquisition (initial fair value) | 194,572 | |
Allowance established for acquired PCD loans | 1,830 | |
Financing Receivable, Purchased with Credit Deterioration, Discount (Premium) | (95) | |
Par value of acquired loans at acquisition | 196,307 | |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||
Purchase price of loans at acquisition (initial fair value) | 180,950 | |
Allowance established for acquired PCD loans | 9,723 | |
Financing Receivable, Purchased with Credit Deterioration, Discount (Premium) | 2,783 | |
Par value of acquired loans at acquisition | 193,456 | |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Purchase price of loans at acquisition (initial fair value) | 0 | |
Allowance established for acquired PCD loans | 0 | |
Financing Receivable, Purchased with Credit Deterioration, Discount (Premium) | 0 | |
Par value of acquired loans at acquisition | 0 | |
Consumer Portfolio Segment [Member] | ||
Purchase price of loans at acquisition (initial fair value) | 54,959 | |
Allowance established for acquired PCD loans | 4,452 | |
Financing Receivable, Purchased with Credit Deterioration, Discount (Premium) | (1,284) | |
Par value of acquired loans at acquisition | $ 58,127 |
LOANS HELD FOR INVESTMENT - Add
LOANS HELD FOR INVESTMENT - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans Pledged as Collateral | $ 2,500,000 | $ 2,500,000 | $ 2,500,000 | $ 1,800,000 | ||
Financing Receivable, Past Due | 498,303 | 498,303 | 498,303 | 508,378 | ||
Loans held for investment | 11,777,289 | 11,777,289 | $ 11,777,289 | 9,002,205 | ||
Minimum Period To Be Considered For Loan To Have Defaulted | 90 days | |||||
TDR | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Troubled Debt Restructuring | 479,196 | 479,196 | $ 479,196 | 487,997 | $ 582,647 | $ 587,219 |
Outstanding unfunded commitments on TDR loans | 5,000 | 5,000 | $ 5,000 | |||
Loan Restructuring Trial Modifications Period | 6 months | |||||
Financing Receivable Removed From Troubled Debt Restructurings Classification | 9,900 | |||||
Puerto Rico [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross | 9,367,032 | 9,367,032 | $ 9,367,032 | 6,695,953 | 6,586,033 | |
United States [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Past Due | 20,577 | 20,577 | 20,577 | 19,499 | ||
Loans held for investment | 1,989,183 | 1,989,183 | 1,989,183 | 1,873,928 | ||
Loans and Leases Receivable, Gross | 1,993,797 | 1,993,797 | 1,993,797 | 1,879,346 | 1,834,088 | |
USVI [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross | 466,749 | 466,749 | 466,749 | 466,383 | 481,188 | |
Performing loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Troubled Debt Restructuring | 393,300 | 393,300 | 393,300 | 398,300 | ||
Performing loans [Member] | Ab Note Restructure Workout Strategy [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Troubled Debt Restructuring | 38,500 | 38,500 | 38,500 | |||
Performing loans [Member] | United States [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Troubled Debt Restructuring | 6,600 | 6,600 | 6,600 | 9,900 | ||
COVID-19 [Member] | Payment Deferral [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross | $ 32,700 | $ 32,700 | $ 32,700 | |||
Financing Receivable Deferral Payment Number Of Agreements | 688 | |||||
Collateral Pledged [Member] | Weighted Average [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
LTV Coverage % | 80.00% | 80.00% | 80.00% | |||
PCD loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans held for investment | $ 130,900 | $ 130,900 | $ 130,900 | 136,700 | ||
Loans held for investment [Member] | Puerto Rico [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Credit risk concentration | 79.00% | |||||
Loans held for investment [Member] | United States [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Credit risk concentration | 17.00% | |||||
Loans held for investment [Member] | USVI and BVI [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Credit risk concentration | 4.00% | |||||
Loans held for investment [Member] | COVID-19 [Member] | Payment Deferral [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Credit risk concentration | 0.30% | |||||
Residential Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Servicing Portfolio | $ 4,200,000 | 4,200,000 | $ 4,200,000 | 3,100,000 | ||
Residential mortgage loans in process of foreclosure | 172,300 | 172,300 | $ 172,300 | |||
Loans Foreclosure Delinquency Threshold | 120 days | |||||
Financing Receivable, Real Estate Acquired Through Foreclosure [Policy Text Block] | The Corporation commences the foreclosure process on residential real estate loans when a borrower becomes 120 days delinquent, in accordance with the requirements of the 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. | |||||
Financing Receivable, Purchase | $ 800 | 18,800 | 46,100 | |||
Loans held for investment | 3,521,954 | 3,521,954 | 3,521,954 | 2,933,773 | ||
Residential Portfolio Segment [Member] | TDR | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans in trial | 1,000 | |||||
Residential Portfolio Segment [Member] | Puerto Rico [Member] | Government [Member] | PRHFA [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross | 106,500 | 106,500 | 106,500 | 106,900 | ||
Residential Portfolio Segment [Member] | United States [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans held for investment | 519,751 | 519,751 | 519,751 | 566,186 | ||
Residential Portfolio Segment [Member] | COVID-19 [Member] | Payment Deferral [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross | $ 18,400 | 18,400 | 18,400 | |||
Financing Receivable Deferral Payment Number Of Agreements | 89 | |||||
Residential Portfolio Segment [Member] | PCD loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Residential mortgage loans in process of foreclosure | $ 18,600 | 18,600 | 18,600 | |||
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Past Due | 228,478 | 228,478 | 228,478 | 247,117 | ||
Loans held for investment | 3,371,220 | 3,371,220 | 3,371,220 | 2,809,864 | ||
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | TDR | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Troubled Debt Restructuring | 310,606 | 310,606 | 310,606 | 316,649 | ||
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | United States [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Past Due | 17,659 | 17,659 | 17,659 | 15,484 | ||
Loans held for investment | 518,581 | 518,581 | 518,581 | 564,706 | ||
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Residential mortgage loans in process of foreclosure | 59,000 | 59,000 | 59,000 | |||
Financing Receivable, Sale | 221,500 | 235,300 | 233,200 | |||
Financing Receivable, Past Due | 101,466 | 101,466 | 101,466 | 83,208 | ||
Loans held for investment | 150,734 | 150,734 | 150,734 | 123,909 | ||
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | TDR | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Troubled Debt Restructuring | 58,700 | 58,700 | 58,700 | 60,100 | ||
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | United States [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Past Due | 250 | 250 | 250 | 129 | ||
Loans held for investment | 1,170 | 1,170 | 1,170 | 1,480 | ||
Residential Portfolio Segment [Member] | FNMA and FHLMC Loans | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Purchase | 42 | 300 | 100 | |||
Residential Portfolio Segment [Member] | FNMA and FHLMC Loans | Performing loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Sale | 254,700 | 138,700 | 104,900 | |||
Residential Portfolio Segment [Member] | GNMA [Member] | Repurchase Option Program [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Purchase | 55,000 | 33,500 | 49,100 | |||
Financing Receivable, Past Due | 10,700 | 10,700 | 10,700 | 35,600 | ||
Commercial Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Servicing Portfolio | 422,000 | 422,000 | 422,000 | 267,600 | ||
Commercial Portfolio Segment [Member] | Puerto Rico [Member] | Government [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross | 201,300 | 201,300 | 201,300 | 57,700 | ||
Commercial Portfolio Segment [Member] | Puerto Rico [Member] | Government [Member] | PREPA [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross | 13,600 | 13,600 | 13,600 | |||
Commercial Portfolio Segment [Member] | Puerto Rico [Member] | Government [Member] | Property Tax Revenue [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross | 107,400 | 107,400 | 107,400 | |||
Commercial Portfolio Segment [Member] | Puerto Rico [Member] | Government [Member] | Municipal Special Obligation Bond [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross | 38,500 | 38,500 | 38,500 | |||
Commercial Portfolio Segment [Member] | USVI [Member] | Government [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross | 61,800 | 61,800 | 61,800 | 64,100 | ||
Commercial Portfolio Segment [Member] | USVI [Member] | Government [Member] | Public Corporations [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross | 38,600 | 38,600 | 38,600 | |||
Commercial Portfolio Segment [Member] | USVI [Member] | Government [Member] | Independent Instrumentality [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross | 23,200 | 23,200 | 23,200 | |||
Commercial Portfolio Segment [Member] | Nonaccrual loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans held for sale sold | 11,400 | |||||
Commercial Portfolio Segment [Member] | Nonaccrual loans [Member] | Puerto Rico [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Sale | 34,900 | |||||
Commercial Portfolio Segment [Member] | COVID-19 [Member] | Payment Deferral [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross | $ 6,300 | 6,300 | 6,300 | |||
Financing Receivable Deferral Payment Number Of Agreements | 19 | |||||
Commercial Portfolio Segment [Member] | COVID-19 [Member] | Main Street Lending Program [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Sale | 175,100 | |||||
Loan Originations | $ 184,400 | |||||
Loan Originations Number Of Agreements | 23 | |||||
Commercial Portfolio Segment [Member] | COVID-19 [Member] | Section 4013 [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross | $ 244,300 | $ 244,300 | 244,300 | |||
Financing Receivable Deferral Payment Number Of Agreements | 24 | 24 | ||||
Commercial Portfolio Segment [Member] | Construction loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Past Due | $ 12,990 | $ 12,990 | 12,990 | 9,887 | ||
Loans held for investment | 212,500 | 212,500 | 212,500 | 111,317 | ||
Commercial Portfolio Segment [Member] | Construction loans [Member] | TDR | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Troubled Debt Restructuring | 3,423 | 3,423 | 3,423 | 4,321 | ||
Commercial Portfolio Segment [Member] | Construction loans [Member] | United States [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Past Due | 0 | 0 | 0 | 0 | ||
Loans held for investment | 127,484 | 127,484 | 127,484 | 63,071 | ||
Commercial Portfolio Segment [Member] | Construction loans [Member] | Nonaccrual loans [Member] | USVI [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Sale | 27,000 | |||||
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Past Due | 44,522 | 44,522 | 44,522 | 45,849 | ||
Loans held for investment | 2,230,602 | 2,230,602 | 2,230,602 | 1,444,586 | ||
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | TDR | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Troubled Debt Restructuring | 64,438 | 64,438 | 64,438 | 74,979 | ||
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | United States [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Past Due | 0 | 0 | 0 | 870 | ||
Loans held for investment | $ 377,378 | 377,378 | 377,378 | 364,686 | ||
Commercial Portfolio Segment [Member] | Loans held for investment [Member] | COVID-19 [Member] | Section 4013 [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Credit risk concentration | 2.00% | |||||
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Past Due | $ 37,320 | 37,320 | 37,320 | 27,724 | ||
Loans held for investment | 3,202,590 | 3,202,590 | 3,202,590 | 2,230,876 | ||
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | TDR | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Troubled Debt Restructuring | 80,482 | 80,482 | 80,482 | 66,849 | ||
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Puerto Rico [Member] | CriticizedMember | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Sale | 5,600 | |||||
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | United States [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Past Due | 779 | 779 | 779 | 646 | ||
Loans held for investment | 937,859 | 937,859 | 937,859 | 839,463 | ||
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Performing loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Purchase | 40,000 | 20,000 | 21,400 | |||
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Performing loans [Member] | Puerto Rico [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Sale | 48,200 | |||||
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Performing loans [Member] | United States [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Sale | $ 9,200 | |||||
Consumer Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans held for investment | 2,609,643 | 2,609,643 | 2,609,643 | 2,281,653 | ||
Consumer Portfolio Segment [Member] | TDR | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Troubled Debt Restructuring | 20,200 | 20,200 | 20,200 | |||
Consumer Portfolio Segment [Member] | United States [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans held for investment | 26,711 | 26,711 | 26,711 | 40,522 | ||
Consumer Portfolio Segment [Member] | COVID-19 [Member] | Payment Deferral [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross | $ 8,000 | 8,000 | 8,000 | |||
Financing Receivable Deferral Payment Number Of Agreements | 580 | |||||
Origination Fees [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Deferred Income | $ 4,600 | 4,600 | 4,600 | 9,200 | ||
Unearned Income [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Deferred Income | $ 65,800 | $ 65,800 | $ 65,800 | $ 63,800 |
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 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | $ 479,196 | $ 487,997 | $ 582,647 | $ 587,219 |
Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 310,606 | 316,649 | ||
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 80,482 | 66,849 | ||
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 64,438 | 74,979 | ||
Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 20,200 | |||
Construction loans [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 3,423 | 4,321 | ||
Auto loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 11,519 | 14,540 | ||
Finance Leases [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 1,144 | 1,532 | ||
Personal Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 924 | 1,073 | ||
Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 2,358 | 2,791 | ||
Other Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 4,302 | 5,263 | ||
Interest rate below market [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 22,176 | 26,068 | ||
Interest rate below market [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 18,729 | 19,570 | ||
Interest rate below market [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 238 | 579 | ||
Interest rate below market [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 1,491 | 3,810 | ||
Interest rate below market [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 21 | 24 | ||
Interest rate below market [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
Interest rate below market [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
Interest rate below market [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 58 | 26 | ||
Interest rate below market [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
Interest rate below market [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 1,639 | 2,059 | ||
Maturity or term extension [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 29,251 | 34,682 | ||
Maturity or term extension [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 11,526 | 11,600 | ||
Maturity or term extension [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 12,267 | 16,160 | ||
Maturity or term extension [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 2,214 | 2,276 | ||
Maturity or term extension [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 1,700 | 2,469 | ||
Maturity or term extension [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 529 | 898 | ||
Maturity or term extension [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 15 | 40 | ||
Maturity or term extension [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 9 | 43 | ||
Maturity or term extension [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
Maturity or term extension [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 991 | 1,196 | ||
Combination of reduction in interest rateand extension of maturity [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 275,665 | 289,303 | ||
Combination of reduction in interest rateand extension of maturity [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 213,412 | 221,667 | ||
Combination of reduction in interest rateand extension of maturity [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 14,119 | 12,077 | ||
Combination of reduction in interest rateand extension of maturity [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 37,495 | 40,896 | ||
Combination of reduction in interest rateand extension of maturity [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 1,516 | 1,639 | ||
Combination of reduction in interest rateand extension of maturity [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 4,878 | 7,393 | ||
Combination of reduction in interest rateand extension of maturity [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 588 | 1,066 | ||
Combination of reduction in interest rateand extension of maturity [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 571 | 845 | ||
Combination of reduction in interest rateand extension of maturity [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 2,342 | 2,767 | ||
Combination of reduction in interest rateand extension of maturity [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 744 | 953 | ||
Forgiveness of principal and/or interest [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 209 | 346 | ||
Forgiveness of principal and/or interest [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [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 Modifications [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 Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
Forgiveness of principal and/or interest [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
Forgiveness of principal and/or interest [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
Forgiveness of principal and/or interest [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
Forgiveness of principal and/or interest [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
Forgiveness of principal and/or interest [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 16 | 24 | ||
Forgiveness of principal and/or interest [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 193 | 180 | ||
Forbearance Agreement [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 34,586 | 20,682 | ||
Forbearance Agreement [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 223 | 142 | ||
Forbearance Agreement [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 17,890 | 692 | ||
Forbearance Agreement [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 16,473 | 19,848 | ||
Forbearance Agreement [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
Forbearance Agreement [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
Forbearance Agreement [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
Forbearance Agreement [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
Forbearance Agreement [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
Forbearance Agreement [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
Other Loan Modifications [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 117,309 | 116,916 | ||
Other Loan Modifications [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 66,716 | 63,670 | ||
Other Loan Modifications [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 35,968 | 37,199 | ||
Other Loan Modifications [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 6,765 | 8,149 | ||
Other Loan Modifications [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 186 | 189 | ||
Other Loan Modifications [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 6,112 | 6,249 | ||
Other Loan Modifications [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 541 | 426 | ||
Other Loan Modifications [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 286 | 159 | ||
Other Loan Modifications [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
Other Loan Modifications [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 735 | 875 | ||
PR And VI [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 472,017 | 477,776 | ||
PR And VI [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 306,937 | 313,147 | ||
PR And VI [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 80,258 | 66,534 | ||
PR And VI [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 61,823 | 69,451 | ||
PR And VI [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 3,423 | 4,321 | ||
PR And VI [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 11,449 | 14,424 | ||
PR And VI [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 1,144 | 1,532 | ||
PR And VI [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 924 | 1,073 | ||
PR And VI [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 2,358 | 2,791 | ||
PR And VI [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 3,701 | 4,503 | ||
PR And VI [Member] | Interest rate below market [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 21,150 | 22,119 | ||
PR And VI [Member] | Interest rate below market [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 17,740 | 18,561 | ||
PR And VI [Member] | Interest rate below market [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 238 | 579 | ||
PR And VI [Member] | Interest rate below market [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 1,491 | 909 | ||
PR And VI [Member] | Interest rate below market [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 21 | 24 | ||
PR And VI [Member] | Interest rate below market [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
PR And VI [Member] | Interest rate below market [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
PR And VI [Member] | Interest rate below market [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 58 | 26 | ||
PR And VI [Member] | Interest rate below market [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
PR And VI [Member] | Interest rate below market [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 1,602 | 2,020 | ||
PR And VI [Member] | Maturity or term extension [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 27,961 | 33,311 | ||
PR And VI [Member] | Maturity or term extension [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 11,125 | 11,188 | ||
PR And VI [Member] | Maturity or term extension [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 12,267 | 16,160 | ||
PR And VI [Member] | Maturity or term extension [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 1,380 | 1,414 | ||
PR And VI [Member] | Maturity or term extension [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 1,700 | 2,469 | ||
PR And VI [Member] | Maturity or term extension [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 474 | 801 | ||
PR And VI [Member] | Maturity or term extension [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 15 | 40 | ||
PR And VI [Member] | Maturity or term extension [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 9 | 43 | ||
PR And VI [Member] | Maturity or term extension [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
PR And VI [Member] | Maturity or term extension [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 991 | 1,196 | ||
PR And VI [Member] | Combination of reduction in interest rateand extension of maturity [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 271,440 | 285,287 | ||
PR And VI [Member] | Combination of reduction in interest rateand extension of maturity [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 211,155 | 219,618 | ||
PR And VI [Member] | Combination of reduction in interest rateand extension of maturity [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 14,119 | 12,077 | ||
PR And VI [Member] | Combination of reduction in interest rateand extension of maturity [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 35,714 | 39,131 | ||
PR And VI [Member] | Combination of reduction in interest rateand extension of maturity [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 1,516 | 1,639 | ||
PR And VI [Member] | Combination of reduction in interest rateand extension of maturity [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 4,863 | 7,374 | ||
PR And VI [Member] | Combination of reduction in interest rateand extension of maturity [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 588 | 1,066 | ||
PR And VI [Member] | Combination of reduction in interest rateand extension of maturity [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 571 | 845 | ||
PR And VI [Member] | Combination of reduction in interest rateand extension of maturity [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 2,342 | 2,767 | ||
PR And VI [Member] | Combination of reduction in interest rateand extension of maturity [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 572 | 770 | ||
PR And VI [Member] | Forgiveness of principal and/or interest [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 209 | 346 | ||
PR And VI [Member] | Forgiveness of principal and/or interest [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [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 Modifications [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 Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
PR And VI [Member] | Forgiveness of principal and/or interest [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
PR And VI [Member] | Forgiveness of principal and/or interest [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
PR And VI [Member] | Forgiveness of principal and/or interest [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
PR And VI [Member] | Forgiveness of principal and/or interest [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
PR And VI [Member] | Forgiveness of principal and/or interest [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 16 | 24 | ||
PR And VI [Member] | Forgiveness of principal and/or interest [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 193 | 180 | ||
PR And VI [Member] | Forbearance Agreement [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 34,586 | 20,682 | ||
PR And VI [Member] | Forbearance Agreement [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 223 | 142 | ||
PR And VI [Member] | Forbearance Agreement [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 17,890 | 692 | ||
PR And VI [Member] | Forbearance Agreement [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 16,473 | 19,848 | ||
PR And VI [Member] | Forbearance Agreement [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
PR And VI [Member] | Forbearance Agreement [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
PR And VI [Member] | Forbearance Agreement [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
PR And VI [Member] | Forbearance Agreement [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
PR And VI [Member] | Forbearance Agreement [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
PR And VI [Member] | Forbearance Agreement [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
PR And VI [Member] | Other Loan Modifications [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 116,671 | 116,031 | ||
PR And VI [Member] | Other Loan Modifications [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 66,694 | 63,638 | ||
PR And VI [Member] | Other Loan Modifications [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 35,744 | 36,884 | ||
PR And VI [Member] | Other Loan Modifications [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 6,765 | 8,149 | ||
PR And VI [Member] | Other Loan Modifications [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 186 | 189 | ||
PR And VI [Member] | Other Loan Modifications [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 6,112 | 6,249 | ||
PR And VI [Member] | Other Loan Modifications [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 541 | 426 | ||
PR And VI [Member] | Other Loan Modifications [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 286 | 159 | ||
PR And VI [Member] | Other Loan Modifications [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
PR And VI [Member] | Other Loan Modifications [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 343 | 337 | ||
FL | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 7,179 | 10,221 | ||
FL | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 3,669 | 3,502 | ||
FL | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 224 | 315 | ||
FL | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 2,615 | 5,528 | ||
FL | Construction loans [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Auto loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 70 | 116 | ||
FL | Finance Leases [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Personal Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Other Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 601 | 760 | ||
FL | Interest rate below market [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 1,026 | 3,949 | ||
FL | Interest rate below market [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 989 | 1,009 | ||
FL | Interest rate below market [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Interest rate below market [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 2,901 | ||
FL | Interest rate below market [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Interest rate below market [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Interest rate below market [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Interest rate below market [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Interest rate below market [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Interest rate below market [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 37 | 39 | ||
FL | Maturity or term extension [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 1,290 | 1,371 | ||
FL | Maturity or term extension [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 401 | 412 | ||
FL | Maturity or term extension [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Maturity or term extension [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 834 | 862 | ||
FL | Maturity or term extension [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Maturity or term extension [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 55 | 97 | ||
FL | Maturity or term extension [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Maturity or term extension [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Maturity or term extension [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Maturity or term extension [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Combination of reduction in interest rateand extension of maturity [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 4,225 | 4,016 | ||
FL | Combination of reduction in interest rateand extension of maturity [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 2,257 | 2,049 | ||
FL | Combination of reduction in interest rateand extension of maturity [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Combination of reduction in interest rateand extension of maturity [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 1,781 | 1,765 | ||
FL | Combination of reduction in interest rateand extension of maturity [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Combination of reduction in interest rateand extension of maturity [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 15 | 19 | ||
FL | Combination of reduction in interest rateand extension of maturity [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Combination of reduction in interest rateand extension of maturity [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Combination of reduction in interest rateand extension of maturity [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Combination of reduction in interest rateand extension of maturity [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 172 | 183 | ||
FL | Forgiveness of principal and/or interest [Member] | ||||
Financing Receivable Modifications [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 Modifications [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 Modifications [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 Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Forgiveness of principal and/or interest [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Forgiveness of principal and/or interest [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Forgiveness of principal and/or interest [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Forgiveness of principal and/or interest [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Forgiveness of principal and/or interest [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Forgiveness of principal and/or interest [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Forbearance Agreement [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Forbearance Agreement [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Forbearance Agreement [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Forbearance Agreement [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Forbearance Agreement [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Forbearance Agreement [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Forbearance Agreement [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Forbearance Agreement [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Forbearance Agreement [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Forbearance Agreement [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Other Loan Modifications [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 638 | 885 | ||
FL | Other Loan Modifications [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 22 | 32 | ||
FL | Other Loan Modifications [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 224 | 315 | ||
FL | Other Loan Modifications [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Other Loan Modifications [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Other Loan Modifications [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Other Loan Modifications [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Other Loan Modifications [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Other Loan Modifications [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Other Loan Modifications [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | $ 392 | $ 538 |
LOANS HELD FOR INVESTMENT - C_9
LOANS HELD FOR INVESTMENT - Corporation's TDR Activity (Detail) - TDR - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Financing Receivable Modifications [Line Items] | |||
Beginning Balance of TDRs | $ 487,997 | $ 582,647 | $ 587,219 |
New TDRs | 36,319 | 63,433 | 171,857 |
Increases to existing TDRs (disbursements) | 6,009 | 1,840 | 7,027 |
Charge-offs post modification | (11,122) | (10,342) | (27,951) |
Sales, net of charge-offs | 0 | 0 | 0 |
Foreclosures | (2,015) | (12,872) | (21,591) |
TDRs transferred from (to) held for sale | 0 | 0 | (34,541) |
Paid-off and partial payments | (37,992) | (136,709) | (99,373) |
Ending balance of TDRs | $ 479,196 | $ 487,997 | $ 582,647 |
LOANS HELD FOR INVESTMENT - _10
LOANS HELD FOR INVESTMENT - Corporation's TDR Activity (Parenthetical) (Detail) - TDR - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Financing Receivable Modifications [Line Items] | |||
Financing Receivable Modifications Troubled Debt Restructurings Paid Or Partial Paid | $ 37,992 | $ 136,709 | $ 99,373 |
Charge-offs post modification | (11,122) | $ (10,342) | $ (27,951) |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Financing Receivable Modifications Troubled Debt Restructurings Paid Or Partial Paid | $ 92,400 |
LOANS HELD FOR INVESTMENT - Bre
LOANS HELD FOR INVESTMENT - Breakdown Between Accrual and Nonaccrual Status of TDRs (Detail) - TDR - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable Modifications Recorded Investment Accrual Status | $ 393,327 | $ 398,257 | ||
Financing Receivable Modifications Recorded Investment Nonaccrual Status | 85,869 | 89,740 | ||
Financing Receivable, Modifications, Recorded Investment | 479,196 | 487,997 | $ 582,647 | $ 587,219 |
Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable Modifications Recorded Investment Accrual Status | 256,779 | 265,746 | ||
Financing Receivable Modifications Recorded Investment Nonaccrual Status | 53,827 | 50,903 | ||
Financing Receivable, Modifications, Recorded Investment | 310,606 | 316,649 | ||
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable Modifications Recorded Investment Accrual Status | 73,649 | 59,689 | ||
Financing Receivable Modifications Recorded Investment Nonaccrual Status | 6,833 | 7,160 | ||
Financing Receivable, Modifications, Recorded Investment | 80,482 | 66,849 | ||
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable Modifications Recorded Investment Accrual Status | 45,627 | 51,062 | ||
Financing Receivable Modifications Recorded Investment Nonaccrual Status | 18,811 | 23,917 | ||
Financing Receivable, Modifications, Recorded Investment | 64,438 | 74,979 | ||
Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 20,200 | |||
Construction loans [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable Modifications Recorded Investment Accrual Status | 2,480 | 3,238 | ||
Financing Receivable Modifications Recorded Investment Nonaccrual Status | 943 | 1,083 | ||
Financing Receivable, Modifications, Recorded Investment | 3,423 | 4,321 | ||
Auto loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable Modifications Recorded Investment Accrual Status | 6,551 | 8,556 | ||
Financing Receivable Modifications Recorded Investment Nonaccrual Status | 4,968 | 5,984 | ||
Financing Receivable, Modifications, Recorded Investment | 11,519 | 14,540 | ||
Finance Leases [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable Modifications Recorded Investment Accrual Status | 1,125 | 1,502 | ||
Financing Receivable Modifications Recorded Investment Nonaccrual Status | 19 | 30 | ||
Financing Receivable, Modifications, Recorded Investment | 1,144 | 1,532 | ||
Personal Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable Modifications Recorded Investment Accrual Status | 920 | 1,052 | ||
Financing Receivable Modifications Recorded Investment Nonaccrual Status | 4 | 21 | ||
Financing Receivable, Modifications, Recorded Investment | 924 | 1,073 | ||
Credit Cards | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable Modifications Recorded Investment Accrual Status | 2,358 | 2,791 | ||
Financing Receivable Modifications Recorded Investment Nonaccrual Status | 0 | 0 | ||
Financing Receivable, Modifications, Recorded Investment | 2,358 | 2,791 | ||
Other Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable Modifications Recorded Investment Accrual Status | 3,838 | 4,621 | ||
Financing Receivable Modifications Recorded Investment Nonaccrual Status | 464 | 642 | ||
Financing Receivable, Modifications, Recorded Investment | 4,302 | 5,263 | ||
PR And VI [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable Modifications Recorded Investment Accrual Status | 386,720 | 388,388 | ||
Financing Receivable Modifications Recorded Investment Nonaccrual Status | 85,297 | 89,388 | ||
Financing Receivable, Modifications, Recorded Investment | 472,017 | 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 | 253,421 | 262,244 | ||
Financing Receivable Modifications Recorded Investment Nonaccrual Status | 53,516 | 50,903 | ||
Financing Receivable, Modifications, Recorded Investment | 306,937 | 313,147 | ||
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 | 73,649 | 59,689 | ||
Financing Receivable Modifications Recorded Investment Nonaccrual Status | 6,609 | 6,845 | ||
Financing Receivable, Modifications, Recorded Investment | 80,258 | 66,534 | ||
PR And VI [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable Modifications Recorded Investment Accrual Status | 43,012 | 45,534 | ||
Financing Receivable Modifications Recorded Investment Nonaccrual Status | 18,811 | 23,917 | ||
Financing Receivable, Modifications, Recorded Investment | 61,823 | 69,451 | ||
PR And VI [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable Modifications Recorded Investment Accrual Status | 2,480 | 3,238 | ||
Financing Receivable Modifications Recorded Investment Nonaccrual Status | 943 | 1,083 | ||
Financing Receivable, Modifications, Recorded Investment | 3,423 | 4,321 | ||
PR And VI [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable Modifications Recorded Investment Accrual Status | 6,481 | 8,440 | ||
Financing Receivable Modifications Recorded Investment Nonaccrual Status | 4,968 | 5,984 | ||
Financing Receivable, Modifications, Recorded Investment | 11,449 | 14,424 | ||
PR And VI [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable Modifications Recorded Investment Accrual Status | 1,125 | 1,502 | ||
Financing Receivable Modifications Recorded Investment Nonaccrual Status | 19 | 30 | ||
Financing Receivable, Modifications, Recorded Investment | 1,144 | 1,532 | ||
PR And VI [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable Modifications Recorded Investment Accrual Status | 920 | 1,052 | ||
Financing Receivable Modifications Recorded Investment Nonaccrual Status | 4 | 21 | ||
Financing Receivable, Modifications, Recorded Investment | 924 | 1,073 | ||
PR And VI [Member] | Credit Cards | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable Modifications Recorded Investment Accrual Status | 2,358 | 2,791 | ||
Financing Receivable Modifications Recorded Investment Nonaccrual Status | 0 | 0 | ||
Financing Receivable, Modifications, Recorded Investment | 2,358 | 2,791 | ||
PR And VI [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable Modifications Recorded Investment Accrual Status | 3,274 | 3,898 | ||
Financing Receivable Modifications Recorded Investment Nonaccrual Status | 427 | 605 | ||
Financing Receivable, Modifications, Recorded Investment | 3,701 | 4,503 | ||
FL | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable Modifications Recorded Investment Accrual Status | 6,607 | 9,869 | ||
Financing Receivable Modifications Recorded Investment Nonaccrual Status | 572 | 352 | ||
Financing Receivable, Modifications, Recorded Investment | 7,179 | 10,221 | ||
FL | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable Modifications Recorded Investment Accrual Status | 3,358 | 3,502 | ||
Financing Receivable Modifications Recorded Investment Nonaccrual Status | 311 | 0 | ||
Financing Receivable, Modifications, Recorded Investment | 3,669 | 3,502 | ||
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 Status | 224 | 315 | ||
Financing Receivable, Modifications, Recorded Investment | 224 | 315 | ||
FL | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable Modifications Recorded Investment Accrual Status | 2,615 | 5,528 | ||
Financing Receivable Modifications Recorded Investment Nonaccrual Status | 0 | 0 | ||
Financing Receivable, Modifications, Recorded Investment | 2,615 | 5,528 | ||
FL | Construction loans [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable Modifications Recorded Investment Accrual Status | 0 | 0 | ||
Financing Receivable Modifications Recorded Investment Nonaccrual Status | 0 | 0 | ||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Auto loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable Modifications Recorded Investment Accrual Status | 70 | 116 | ||
Financing Receivable Modifications Recorded Investment Nonaccrual Status | 0 | 0 | ||
Financing Receivable, Modifications, Recorded Investment | 70 | 116 | ||
FL | Finance Leases [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable Modifications Recorded Investment Accrual Status | 0 | 0 | ||
Financing Receivable Modifications Recorded Investment Nonaccrual Status | 0 | 0 | ||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Personal Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable Modifications Recorded Investment Accrual Status | 0 | 0 | ||
Financing Receivable Modifications Recorded Investment Nonaccrual Status | 0 | 0 | ||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Credit Cards | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable Modifications Recorded Investment Accrual Status | 0 | 0 | ||
Financing Receivable Modifications Recorded Investment Nonaccrual Status | 0 | 0 | ||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||
FL | Other Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Financing Receivable Modifications Recorded Investment Accrual Status | 564 | 723 | ||
Financing Receivable Modifications Recorded Investment Nonaccrual Status | 37 | 37 | ||
Financing Receivable, Modifications, Recorded Investment | $ 601 | $ 760 |
LOANS HELD FOR INVESTMENT - B_2
LOANS HELD FOR INVESTMENT - Breakdown Between Accrual and Nonaccrual Status of TDRs (Parenthetical) (Detail) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
TDR | ||
Financing Receivable Modifications [Line Items] | ||
Financing receivable modifications recorded investment of loan forced to nonaccrual status | $ 5.9 | $ 14.8 |
LOANS HELD FOR INVESTMENT - L_3
LOANS HELD FOR INVESTMENT - Loan Modifications are Considered TDRs (Detail) - TDR $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020USD ($)numberofcontracts | Dec. 31, 2019USD ($)numberofcontracts | Dec. 31, 2018USD ($)numberofcontracts | |
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 648 | 1,309 | 1,228 |
Pre-modification Outstanding Recorded Investment | $ 37,140 | $ 66,184 | $ 173,082 |
Post-Modification Outstanding Recorded Investment | $ 36,319 | $ 63,433 | $ 171,857 |
Residential Portfolio Segment [Member] | Conventional Loan [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 103 | 118 | 104 |
Pre-modification Outstanding Recorded Investment | $ 9,027 | $ 14,606 | $ 14,827 |
Post-Modification Outstanding Recorded Investment | $ 8,307 | $ 14,084 | $ 14,159 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 14 | 14 | 10 |
Pre-modification Outstanding Recorded Investment | $ 22,544 | $ 1,754 | $ 9,141 |
Post-Modification Outstanding Recorded Investment | $ 22,524 | $ 1,750 | $ 8,786 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 5 | 13 | 11 |
Pre-modification Outstanding Recorded Investment | $ 824 | $ 40,988 | $ 138,994 |
Post-Modification Outstanding Recorded Investment | $ 824 | $ 38,750 | $ 138,785 |
Construction loans [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 0 | 4 | 2 |
Pre-modification Outstanding Recorded Investment | $ 0 | $ 118 | $ 684 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 117 | $ 655 |
Auto loans [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 163 | 256 | 285 |
Pre-modification Outstanding Recorded Investment | $ 2,635 | $ 4,201 | $ 4,500 |
Post-Modification Outstanding Recorded Investment | $ 2,623 | $ 4,154 | $ 4,489 |
Finance Leases [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 29 | 42 | 48 |
Pre-modification Outstanding Recorded Investment | $ 408 | $ 804 | $ 1,001 |
Post-Modification Outstanding Recorded Investment | $ 408 | $ 801 | $ 987 |
Personal Loans [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 30 | 53 | 54 |
Pre-modification Outstanding Recorded Investment | $ 306 | $ 502 | $ 605 |
Post-Modification Outstanding Recorded Investment | $ 305 | $ 499 | $ 603 |
Other Loans [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 159 | 153 | 203 |
Pre-modification Outstanding Recorded Investment | $ 783 | $ 800 | $ 1,193 |
Post-Modification Outstanding Recorded Investment | $ 783 | $ 800 | $ 1,193 |
Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 145 | 656 | 511 |
Pre-modification Outstanding Recorded Investment | $ 613 | $ 2,411 | $ 2,137 |
Post-Modification Outstanding Recorded Investment | $ 545 | $ 2,478 | $ 2,200 |
PR And VI [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 647 | 1,306 | 1,210 |
Pre-modification Outstanding Recorded Investment | $ 37,117 | $ 66,151 | $ 172,811 |
Post-Modification Outstanding Recorded Investment | $ 36,296 | $ 63,400 | $ 171,586 |
PR And VI [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 103 | 118 | 104 |
Pre-modification Outstanding Recorded Investment | $ 9,027 | $ 14,606 | $ 14,827 |
Post-Modification Outstanding Recorded Investment | $ 8,307 | $ 14,084 | $ 14,159 |
PR And VI [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 14 | 14 | 10 |
Pre-modification Outstanding Recorded Investment | $ 22,544 | $ 1,754 | $ 9,141 |
Post-Modification Outstanding Recorded Investment | $ 22,524 | $ 1,750 | $ 8,786 |
PR And VI [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 5 | 13 | 11 |
Pre-modification Outstanding Recorded Investment | $ 824 | $ 40,988 | $ 138,994 |
Post-Modification Outstanding Recorded Investment | $ 824 | $ 38,750 | $ 138,785 |
PR And VI [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 0 | 4 | 2 |
Pre-modification Outstanding Recorded Investment | $ 0 | $ 118 | $ 684 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 117 | $ 655 |
PR And VI [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 163 | 253 | 267 |
Pre-modification Outstanding Recorded Investment | $ 2,635 | $ 4,168 | $ 4,229 |
Post-Modification Outstanding Recorded Investment | $ 2,623 | $ 4,121 | $ 4,218 |
PR And VI [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 29 | 42 | 48 |
Pre-modification Outstanding Recorded Investment | $ 408 | $ 804 | $ 1,001 |
Post-Modification Outstanding Recorded Investment | $ 408 | $ 801 | $ 987 |
PR And VI [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 30 | 53 | 54 |
Pre-modification Outstanding Recorded Investment | $ 306 | $ 502 | $ 605 |
Post-Modification Outstanding Recorded Investment | $ 305 | $ 499 | $ 603 |
PR And VI [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 159 | 153 | 203 |
Pre-modification Outstanding Recorded Investment | $ 783 | $ 800 | $ 1,193 |
Post-Modification Outstanding Recorded Investment | $ 783 | $ 800 | $ 1,193 |
PR And VI [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 144 | 656 | 511 |
Pre-modification Outstanding Recorded Investment | $ 590 | $ 2,411 | $ 2,137 |
Post-Modification Outstanding Recorded Investment | $ 522 | $ 2,478 | $ 2,200 |
FL | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 1 | 3 | 18 |
Pre-modification Outstanding Recorded Investment | $ 23 | $ 33 | $ 271 |
Post-Modification Outstanding Recorded Investment | $ 23 | $ 33 | $ 271 |
FL | Residential Portfolio Segment [Member] | Conventional Loan [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 0 | 0 | 0 |
Pre-modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 |
Post-Modification Outstanding Recorded Investment | $ 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 |
Pre-modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 |
FL | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 0 | 0 | 0 |
Pre-modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 |
FL | Construction loans [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 0 | 0 | 0 |
Pre-modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 |
FL | Auto loans [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 0 | 3 | 18 |
Pre-modification Outstanding Recorded Investment | $ 0 | $ 33 | $ 271 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 33 | $ 271 |
FL | Finance Leases [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 0 | 0 | 0 |
Pre-modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 |
FL | Personal Loans [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 0 | 0 | 0 |
Pre-modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 |
FL | Other Loans [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 0 | 0 | 0 |
Pre-modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 |
FL | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 1 | 0 | 0 |
Pre-modification Outstanding Recorded Investment | $ 23 | $ 0 | $ 0 |
Post-Modification Outstanding Recorded Investment | $ 23 | $ 0 | $ 0 |
LOANS HELD FOR INVESTMENT - L_4
LOANS HELD FOR INVESTMENT - Loan Modifications Considered Troubled Debt Restructurings Defaulted (Detail) - TDR $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020USD ($)numberofcontracts | Dec. 31, 2019USD ($)numberofcontracts | Dec. 31, 2018USD ($)numberofcontracts | |
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 175 | 220 | 134 |
Recorded investment | $ | $ 3,900 | $ 4,501 | $ 3,225 |
Residential Portfolio Segment [Member] | Conventional Loan [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 10 | 11 | 15 |
Recorded investment | $ | $ 2,380 | $ 2,019 | $ 1,994 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 3 | 0 | 0 |
Recorded investment | $ | $ 124 | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 0 | 0 | 0 |
Recorded investment | $ | $ 0 | $ 0 | $ 0 |
Construction Loans [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 0 | 0 | 0 |
Recorded investment | $ | $ 0 | $ 0 | $ 0 |
Auto loans [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 55 | 130 | 62 |
Recorded investment | $ | $ 947 | $ 2,221 | $ 1,003 |
Finance Leases [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 1 | 1 | 1 |
Recorded investment | $ | $ 5 | $ 14 | $ 22 |
Personal Loans [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 1 | 1 | 2 |
Recorded investment | $ | $ 7 | $ 9 | $ 26 |
Credit Cards | Consumer Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 47 | 0 | 0 |
Recorded investment | $ | $ 228 | $ 0 | $ 0 |
Other Loans [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 58 | 77 | 54 |
Recorded investment | $ | $ 209 | $ 238 | $ 180 |
PR And VI [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 175 | 220 | 134 |
Recorded investment | $ | $ 3,900 | $ 4,501 | $ 3,225 |
PR And VI [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 10 | 11 | 15 |
Recorded investment | $ | $ 2,380 | $ 2,019 | $ 1,994 |
PR And VI [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 3 | 0 | 0 |
Recorded investment | $ | $ 124 | $ 0 | $ 0 |
PR And VI [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 0 | 0 | 0 |
Recorded investment | $ | $ 0 | $ 0 | $ 0 |
PR And VI [Member] | Construction Loans [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 0 | 0 | 0 |
Recorded investment | $ | $ 0 | $ 0 | $ 0 |
PR And VI [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 55 | 130 | 62 |
Recorded investment | $ | $ 947 | $ 2,221 | $ 1,003 |
PR And VI [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 1 | 1 | 1 |
Recorded investment | $ | $ 5 | $ 14 | $ 22 |
PR And VI [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 1 | 1 | 2 |
Recorded investment | $ | $ 7 | $ 9 | $ 26 |
PR And VI [Member] | Credit Cards | Consumer Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 47 | 0 | 0 |
Recorded investment | $ | $ 228 | $ 0 | $ 0 |
PR And VI [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 58 | 77 | 54 |
Recorded investment | $ | $ 209 | $ 238 | $ 180 |
FL | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 0 | 0 | 0 |
Recorded investment | $ | $ 0 | $ 0 | $ 0 |
FL | Residential Portfolio Segment [Member] | Conventional Loan [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 0 | 0 | 0 |
Recorded investment | $ | $ 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 |
Recorded investment | $ | $ 0 | $ 0 | $ 0 |
FL | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 0 | 0 | 0 |
Recorded investment | $ | $ 0 | $ 0 | $ 0 |
FL | Construction Loans [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 0 | 0 | 0 |
Recorded investment | $ | $ 0 | $ 0 | $ 0 |
FL | Auto loans [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 0 | 0 | 0 |
Recorded investment | $ | $ 0 | $ 0 | $ 0 |
FL | Finance Leases [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 0 | 0 | 0 |
Recorded investment | $ | $ 0 | $ 0 | $ 0 |
FL | Personal Loans [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 0 | 0 | 0 |
Recorded investment | $ | $ 0 | $ 0 | $ 0 |
FL | Credit Cards | Consumer Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 0 | 0 | 0 |
Recorded investment | $ | $ 0 | $ 0 | $ 0 |
FL | Other Loans [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of contracts | numberofcontracts | 0 | 0 | 0 |
Recorded investment | $ | $ 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 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Loans and Leases Receivable Disclosure [Abstract] | ||||
Impact of adopting ASC 326 | $ 230,800 | |||
Provision (release) for credit losses | 168,717 | $ 40,225 | $ 59,253 | |
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) | |||
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Provision (release) for credit losses | 2,105 | (1,496) | 7,032 | |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Provision (release) for credit losses | 81,125 | (1,697) | 23,074 | |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Provision (release) for credit losses | 6,627 | (13,696) | (8,440) | |
Entity Loan Modification Program [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Abstract] | ||||
Beginning Balance of TDRs | 487,997 | 487,997 | 582,647 | 587,219 |
New TDRs loan splits | 36,319 | 63,433 | 171,857 | |
Increases to existing TDRs (disbursements) | 6,009 | 1,840 | 7,027 | |
Charge-offs post modification | (11,122) | (10,342) | (27,951) | |
Paid-off and partial payments | (37,992) | (136,709) | (99,373) | |
Ending balance of TDRs | 479,196 | 487,997 | 582,647 | |
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 | 3,423 | 4,321 | ||
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) | |||
Ending balance of TDRs | 64,438 | 74,979 | ||
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 | 80,482 | 66,849 | ||
Entity Loan Modification Program [Member] | AB Note Restructure Workout Strategy [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Abstract] | ||||
Beginning Balance of TDRs | 51,228 | 51,228 | 33,840 | 35,577 |
New TDRs loan splits | 0 | 20,059 | 32,104 | |
Increases to existing TDRs (disbursements) | 738 | 0 | 0 | |
Charge-offs post modification | (3,087) | 0 | 0 | |
Paid-off and partial payments | (3,792) | (2,671) | (33,841) | |
Ending balance of TDRs | 45,087 | 51,228 | 33,840 | |
Loans and Leases Receivable Disclosure [Abstract] | ||||
Beginning balance | 3,530 | 3,530 | 473 | 3,846 |
Provision (release) for credit losses | 284 | 3,057 | (10,789) | |
Charge-offs | (3,087) | 0 | (7,416) | |
Ending balance | 401 | 3,530 | 473 | |
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) | |||
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 | 1,883 | 2,431 | 0 |
New TDRs loan splits | 0 | 0 | 2,503 | |
Increases to existing TDRs (disbursements) | 0 | 0 | 0 | |
Charge-offs post modification | 0 | 0 | 0 | |
Paid-off and partial payments | (321) | (548) | (72) | |
Ending balance of TDRs | 1,562 | 1,883 | 2,431 | |
Loans and Leases Receivable Disclosure [Abstract] | ||||
Beginning balance | 0 | 0 | 0 | 0 |
Provision (release) for credit losses | 0 | 0 | 0 | |
Charge-offs | 0 | 0 | 0 | |
Ending balance | 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 | |||
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 | 22,749 | 3,003 | 3,098 |
New TDRs loan splits | 0 | 20,059 | 29,601 | |
Increases to existing TDRs (disbursements) | 0 | 0 | 0 | |
Charge-offs post modification | (3,087) | 0 | 0 | |
Paid-off and partial payments | (3,187) | (313) | (29,696) | |
Ending balance of TDRs | 16,475 | 22,749 | 3,003 | |
Loans and Leases Receivable Disclosure [Abstract] | ||||
Beginning balance | 3,516 | 3,516 | 0 | 0 |
Provision (release) for credit losses | (14) | 3,516 | (7,416) | |
Charge-offs | (3,087) | 0 | (7,416) | |
Ending balance | 0 | 3,516 | 0 | |
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) | |||
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 | 26,596 | 28,406 | 32,479 |
New TDRs loan splits | 0 | 0 | 0 | |
Increases to existing TDRs (disbursements) | 738 | 0 | 0 | |
Charge-offs post modification | 0 | 0 | 0 | |
Paid-off and partial payments | (284) | (1,810) | (4,073) | |
Ending balance of TDRs | 27,050 | 26,596 | 28,406 | |
Loans and Leases Receivable Disclosure [Abstract] | ||||
Beginning balance | $ 14 | 14 | 473 | 3,846 |
Provision (release) for credit losses | 298 | (459) | (3,373) | |
Charge-offs | 0 | 0 | 0 | |
Ending balance | 401 | $ 14 | $ 473 | |
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 |
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 | Jan. 01, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning balance | $ 155,139 | $ 155,139 | $ 196,362 | $ 231,843 | |
Allowance established for acquired PCD loans | $ 28,744 | 28,700 | |||
Provision (release) for credit losses | 168,717 | 40,225 | 59,253 | ||
Charge-offs | (64,540) | (97,587) | (116,792) | ||
Recoveries | 16,662 | 16,139 | 22,058 | ||
Ending balance | 385,887 | 155,139 | 196,362 | ||
ASC 326 [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Ending balance | 236,304 | ||||
ASC 326 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Impact of adopting ASC 326 | 81,165 | ||||
Ending balance | 81,165 | ||||
Residential Portfolio Segment [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning balance | 44,806 | 44,806 | 50,794 | 58,975 | |
Allowance established for acquired PCD loans | 12,739 | ||||
Provision (release) for credit losses | 22,427 | 14,091 | 13,202 | ||
Charge-offs | (11,017) | (22,742) | (24,775) | ||
Recoveries | 1,519 | 2,663 | 3,392 | ||
Ending balance | 120,311 | 44,806 | 50,794 | ||
Residential Portfolio Segment [Member] | ASC 326 [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Ending balance | 94,643 | ||||
Residential Portfolio Segment [Member] | ASC 326 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Impact of adopting ASC 326 | 49,837 | ||||
Ending balance | 49,837 | ||||
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning balance | 15,198 | 15,198 | 32,546 | 48,871 | |
Allowance established for acquired PCD loans | 1,830 | ||||
Provision (release) for credit losses | 6,627 | (13,696) | (8,440) | ||
Charge-offs | (3,634) | (7,206) | (9,704) | ||
Recoveries | 3,192 | 3,554 | 1,819 | ||
Ending balance | 37,944 | 15,198 | 32,546 | ||
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ASC 326 [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Ending balance | 29,929 | ||||
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ASC 326 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Impact of adopting ASC 326 | 14,731 | ||||
Ending balance | 14,731 | ||||
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning balance | 39,194 | 39,194 | 55,581 | 48,493 | |
Allowance established for acquired PCD loans | 9,723 | ||||
Provision (release) for credit losses | 81,125 | (1,697) | 23,074 | ||
Charge-offs | (3,330) | (15,088) | (23,911) | ||
Recoveries | 1,936 | 398 | 7,925 | ||
Ending balance | 109,342 | 39,194 | 55,581 | ||
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ASC 326 [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Ending balance | 19,888 | ||||
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ASC 326 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Impact of adopting ASC 326 | (19,306) | ||||
Ending balance | (19,306) | ||||
Commercial Portfolio Segment [Member] | Construction Loans [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning balance | 2,370 | 2,370 | 3,592 | 4,522 | |
Allowance established for acquired PCD loans | 0 | ||||
Provision (release) for credit losses | 2,105 | (1,496) | 7,032 | ||
Charge-offs | (76) | (391) | (8,296) | ||
Recoveries | 184 | 665 | 334 | ||
Ending balance | 5,380 | 2,370 | 3,592 | ||
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ASC 326 [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Ending balance | 3,167 | ||||
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ASC 326 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Impact of adopting ASC 326 | 797 | ||||
Ending balance | 797 | ||||
Consumer Portfolio Segment [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning balance | 53,571 | 53,571 | 53,849 | 70,982 | |
Allowance established for acquired PCD loans | $ 4,452 | ||||
Provision (release) for credit losses | 56,433 | 43,023 | 24,385 | ||
Charge-offs | (46,483) | (52,160) | (50,106) | ||
Recoveries | 9,831 | 8,859 | 8,588 | ||
Ending balance | $ 112,910 | $ 53,571 | $ 53,849 | ||
Consumer Portfolio Segment [Member] | ASC 326 [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Ending balance | 88,677 | ||||
Consumer Portfolio Segment [Member] | ASC 326 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Impact of adopting ASC 326 | 35,106 | ||||
Ending balance | $ 35,106 |
ALLOWANCE FOR CREDIT LOSSES O_4
ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LOSSES - Activity in ACL on loans and finance leases (Parenthetical) (Detail) - USD ($) $ in Thousands | Sep. 01, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Provision (release) for credit losses | $ 168,717 | $ 40,225 | $ 59,253 | |
Loans held for investment transferred to held for sale | $ 10,817 | $ 24,470 | 90,319 | |
Non-PCD | Santander [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Provision (release) for credit losses | $ 37,500 | |||
Nonperforming Financial Instruments [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Loans held for investment transferred to held for sale | 74,400 | |||
Charge Offs Loans Held For Sale | 22,200 | |||
Charge Offs Loans Held For Sale Previously Established Reserve | 6,500 | |||
Provision Loans Transferred To Held For Sale | $ 15,700 |
ALLOWANCE FOR CREDIT LOSSES O_5
ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LEASES - Carrying Amount of Portfolios (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Amortized cost of loans | $ 11,777,289 | $ 9,002,205 | ||
Allowance for credit losses | $ 385,887 | $ 155,139 | $ 196,362 | $ 231,843 |
Allowance for loan and lease losses, numerator [Member] | Amortized cost, denominator [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Allowance for credit losses to amortized cost | 3.28% | 1.72% | ||
Residenital Mortgage Loans [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Amortized cost of loans | $ 3,521,954 | $ 2,933,773 | ||
Allowance for credit losses | $ 120,311 | $ 44,806 | 50,794 | 58,975 |
Residenital Mortgage Loans [Member] | Allowance for loan and lease losses, numerator [Member] | Amortized cost, denominator [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Allowance for credit losses to amortized cost | 3.42% | 1.53% | ||
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Amortized cost of loans | $ 3,202,590 | $ 2,230,876 | ||
Allowance for credit losses | $ 37,944 | $ 15,198 | 32,546 | 48,871 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Allowance for loan and lease losses, numerator [Member] | Amortized cost, denominator [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Allowance for credit losses to amortized cost | 1.18% | 0.68% | ||
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Amortized cost of loans | $ 2,230,602 | $ 1,444,586 | ||
Allowance for credit losses | $ 109,342 | $ 39,194 | 55,581 | 48,493 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Allowance for loan and lease losses, numerator [Member] | Amortized cost, denominator [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Allowance for credit losses to amortized cost | 4.90% | 2.71% | ||
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Amortized cost of loans | $ 212,500 | $ 111,317 | ||
Allowance for credit losses | $ 5,380 | $ 2,370 | 3,592 | 4,522 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Allowance for loan and lease losses, numerator [Member] | Amortized cost, denominator [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Allowance for credit losses to amortized cost | 2.53% | 2.13% | ||
Consumer Portfolio Segment [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Amortized cost of loans | $ 2,609,643 | $ 2,281,653 | ||
Allowance for credit losses | $ 112,910 | $ 53,571 | $ 53,849 | $ 70,982 |
Consumer Portfolio Segment [Member] | Allowance for loan and lease losses, numerator [Member] | Amortized cost, denominator [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Allowance for credit losses to amortized cost | 4.33% | 2.35% |
ALLOWANCE FOR CREDIT LOSSES O_6
ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LEASES - Carrying Amount of Portfolios (Parenthetical) (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | $ 11,777,289 | $ 9,002,205 |
Commercial Portfolio Segment [Member] | COVID-19 [Member] | Small Business Administration [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | $ 406,000 |
ALLOWANCE FOR CREDIT LOSSES O_7
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 | 12 Months Ended | |||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Jan. 01, 2020 | Jan. 01, 2019 | Jan. 01, 2018 | |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Beginning balance | $ 0 | $ 412 | $ 676 | |||
Provision (release) for credit losses | 1,183 | (412) | (264) | |||
Ending balance | $ 5,105 | $ 0 | $ 412 | |||
ASC 326 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Impact of adopting ASC 326 | $ 3,922 | $ 0 | $ 0 |
ALLOWANCE FOR CREDIT LOSSES O_8
ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LEASES - Additional Information (Detail) - USD ($) $ in Thousands | Sep. 01, 2020 | Jan. 01, 2020 | Dec. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Jan. 01, 2019 | Jan. 01, 2018 | Dec. 31, 2017 |
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Financing Receivable Allowance For Credit Losses | $ 385,887 | $ 385,887 | $ 155,139 | $ 196,362 | $ 231,843 | ||||
Increase (decrease) in ACL | 230,800 | ||||||||
Provision (release) for credit losses | 168,717 | 40,225 | 59,253 | ||||||
Allowance established for acquired PCD loans | $ 28,744 | $ 28,700 | |||||||
Increase (decrease) in provision for credit losses | 128,500 | ||||||||
Net charge-offs | 47,900 | 81,400 | |||||||
Recoveries | 16,662 | 16,139 | 22,058 | ||||||
Off-Balance Sheet, Credit Loss, Liability, Credit Loss Expense (Reversal) | 1,183 | (412) | (264) | ||||||
Off-Balance Sheet, Credit Loss, Liability | 5,105 | 5,105 | 0 | 412 | 676 | ||||
Residential Portfolio Segment [Member] | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Financing Receivable Allowance For Credit Losses | 120,311 | 120,311 | 44,806 | 50,794 | 58,975 | ||||
Provision (release) for credit losses | 22,427 | 14,091 | 13,202 | ||||||
Allowance established for acquired PCD loans | 12,739 | ||||||||
Increase (decrease) in net charge-offs | 10,600 | ||||||||
Recoveries | 1,519 | 2,663 | 3,392 | ||||||
Commercial Portfolio Segment [Member] | Nonaccrual loans [Member] | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Recoveries | 3,900 | ||||||||
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Financing Receivable Allowance For Credit Losses | 109,342 | 109,342 | 39,194 | 55,581 | 48,493 | ||||
Provision (release) for credit losses | 81,125 | (1,697) | 23,074 | ||||||
Allowance established for acquired PCD loans | 9,723 | ||||||||
Recoveries | 1,936 | 398 | 7,925 | ||||||
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | U S [Member] | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Net charge-offs | 11,400 | ||||||||
Consumer Portfolio Segment [Member] | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Financing Receivable Allowance For Credit Losses | $ 112,910 | 112,910 | 53,571 | 53,849 | $ 70,982 | ||||
Provision (release) for credit losses | 56,433 | 43,023 | 24,385 | ||||||
Allowance established for acquired PCD loans | 4,452 | ||||||||
Increase (decrease) in net charge-offs | 6,600 | ||||||||
Recoveries | $ 9,831 | $ 8,859 | $ 8,588 | ||||||
Non-PCD | Santander [Member] | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Provision (release) for credit losses | $ 37,500 | ||||||||
ASC 326 [Member] | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Financing Receivable Allowance For Credit Losses | 236,304 | ||||||||
Off-Balance Sheet, Credit Loss, Liability | 3,922 | ||||||||
ASC 326 [Member] | Residential Portfolio Segment [Member] | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Financing Receivable Allowance For Credit Losses | 94,643 | ||||||||
ASC 326 [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Financing Receivable Allowance For Credit Losses | 19,888 | ||||||||
ASC 326 [Member] | Consumer Portfolio Segment [Member] | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Financing Receivable Allowance For Credit Losses | 88,677 | ||||||||
ASC 326 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Financing Receivable Allowance For Credit Losses | 81,165 | ||||||||
Increase (decrease) in ACL | (434) | ||||||||
Impact of adopting ASC 326 in unfunded loan commitments and standby letters of credit | 3,922 | $ 0 | $ 0 | ||||||
Off-Balance Sheet, Credit Loss, Liability | 3,922 | ||||||||
ASC 326 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Residential Portfolio Segment [Member] | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Financing Receivable Allowance For Credit Losses | 49,837 | ||||||||
ASC 326 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Financing Receivable Allowance For Credit Losses | (19,306) | ||||||||
ASC 326 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Consumer Portfolio Segment [Member] | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Financing Receivable Allowance For Credit Losses | $ 35,106 |
LOANS HELD FOR SALE - Portfolio
LOANS HELD FOR SALE - Portfolio of Loans Held for Sale (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable Held For Sale Net | $ 50,289 | $ 39,477 |
Residential Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable Held For Sale Net | 50,289 | 39,477 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable Held For Sale Net | 0 | 0 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable Held For Sale Net | 0 | 0 |
Construction Loans [Member] | Commercial Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable Held For Sale Net | $ 0 | $ 0 |
LOANS HELD FOR SALE - Portfol_2
LOANS HELD FOR SALE - Portfolio of Loans Held For Sale Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable Held For Sale Net | $ 50,289 | $ 39,477 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable Held For Sale Net | 0 | 0 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable Held For Sale Net | 0 | 0 |
Construction Loans [Member] | Commercial Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing 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 | Dec. 31, 2020 | Dec. 31, 2019 |
Other Real Estate And Foreclosed Assets [Line Items] | ||
OREO | $ 83,060 | $ 101,626 |
Other Real Estate Owned [Member] | ||
Other Real Estate And Foreclosed Assets [Line Items] | ||
OREO | 83,060 | 101,626 |
Other Real Estate Owned [Member] | Residential [Member] | ||
Other Real Estate And Foreclosed Assets [Line Items] | ||
OREO | 32,418 | 46,912 |
Other Real Estate Owned [Member] | Commercial [Member] | ||
Other Real Estate And Foreclosed Assets [Line Items] | ||
OREO | 44,356 | 47,271 |
Other Real Estate Owned [Member] | Commercial [Member] | Construction [Member] | ||
Other Real Estate And Foreclosed Assets [Line Items] | ||
OREO | $ 6,286 | $ 7,443 |
OTHER REAL ESTATE OWNED- Additi
OTHER REAL ESTATE OWNED- Additional information (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Real Estate Properties [Line Items] | ||
Foreclosures that meet the conditions of ASC Topic 310-40 | $ 272,737 | $ 177,842 |
Other Real Estate Owned [Member] | ||
Real Estate Properties [Line Items] | ||
Foreclosures that meet the conditions of ASC Topic 310-40 | $ 18,600 | $ 16,700 |
RELATED PARTY TRANSACTIONS- Mov
RELATED PARTY TRANSACTIONS- Movement and balance of these loans (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Related Party Transactions [Abstract] | ||
Opening Balance | $ 1,032 | $ 1,024 |
New loans | 425 | 154 |
Loans and Leases Receivable, Related Parties, Proceeds | (953) | (146) |
Other changes | 0 | 0 |
Closing Balance | $ 504 | $ 1,032 |
PREMISES AND EQUIPMENT (Detail)
PREMISES AND EQUIPMENT (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Property Plant And Equipment [Line Items] | ||
Buildings and Improvements | $ 138,686 | $ 135,263 |
Leasehold Improvements | 82,034 | 56,530 |
Furniture and equipment | 224,623 | 146,835 |
Property, Plant and Equipment, Gross | 445,343 | 338,628 |
Accumulated Depreciation | (318,659) | (228,712) |
Subtotal | 126,684 | 109,916 |
Land | 23,873 | 22,939 |
Projects in progress | 7,652 | 17,134 |
Premises and equipment, net | $ 158,209 | $ 149,989 |
Minimum [Member] | Building Improvements [Member] | ||
Property Plant And Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 10 years | |
Minimum [Member] | Leasehold Improvements [Member] | ||
Property Plant And Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 1 year | |
Minimum [Member] | Furniture and Fixtures [Member] | ||
Property Plant And Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 2 years | |
Maximum [Member] | Building Improvements [Member] | ||
Property Plant And Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 35 years | |
Maximum [Member] | Leasehold Improvements [Member] | ||
Property Plant And Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 10 years | |
Maximum [Member] | Furniture and Fixtures [Member] | ||
Property Plant And Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 10 years |
PREMISES AND EQUIPMENT- Additio
PREMISES AND EQUIPMENT- Additional information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Impaired Long Lived Assets Held And Used [Line Items] | |||
Depreciation and amortization expense | $ 20,100 | $ 17,600 | $ 15,000 |
Insurance proceeds related to casualty losses | 0 | 587 | 7,673 |
Gain from insurance proceeds | 5,000 | 660 | 537 |
Hurricane [Member] | |||
Impaired Long Lived Assets Held And Used [Line Items] | |||
Gain from insurance proceeds | 5,000 | 100 | 500 |
Insurance Recoveries | $ 1,200 | ||
Hurricane [Member] | Property Plant And Equipment [Member] | |||
Impaired Long Lived Assets Held And Used [Line Items] | |||
Insurance proceeds related to casualty losses | $ 600 | $ 2,000 |
GOODWILL AND OTHER INTANGIBLE_2
GOODWILL AND OTHER INTANGIBLES - Additional Information (Detail) - USD ($) $ in Thousands | Sep. 01, 2020 | Dec. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Finite Lived Intangible Assets [Line Items] | |||||
Goodwill | $ 38,632 | $ 38,632 | $ 28,098 | ||
Additions to goodwill | 6,303 | ||||
Adjustments to goodwill | 4,231 | ||||
Total purchase price consideration (cash) | 1,280,424 | 0 | $ 0 | ||
Intangibles | 40,900 | 40,900 | |||
Goodwill impairment | 0 | 0 | 0 | ||
Net intangible assets | 40,893 | 40,893 | 7,573 | 10,659 | |
FL | |||||
Finite Lived Intangible Assets [Line Items] | |||||
Goodwill | 28,100 | $ 28,100 | |||
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] | |||||
Intangibles | 35,800 | $ 35,800 | |||
Net intangible assets | 35,842 | 35,842 | 3,488 | 4,335 | |
Customer Relationships [Member] | Credit Card [Member] | |||||
Finite Lived Intangible Assets [Line Items] | |||||
Intangibles | 4,700 | 4,700 | |||
Net intangible assets | 4,733 | 4,733 | 3,615 | 5,702 | |
Customer Relationships [Member] | Insurance Customer Intangible [Member] | |||||
Finite Lived Intangible Assets [Line Items] | |||||
Intangibles | 300 | 300 | |||
Net intangible assets | 318 | 318 | $ 470 | $ 622 | |
BSPR | |||||
Finite Lived Intangible Assets [Line Items] | |||||
Goodwill | $ 10,500 | ||||
Additions to goodwill | 6,300 | ||||
Adjustments to goodwill | 4,200 | 4,200 | |||
Additions due to acquisitions | 39,232 | ||||
Total purchase price consideration (cash) | 1,300 | ||||
Intangibles | 39,200 | ||||
BSPR | Core Deposits [Member] | |||||
Finite Lived Intangible Assets [Line Items] | |||||
Additions due to acquisitions | 35,432 | ||||
Intangibles | 35,400 | ||||
BSPR | Customer Relationships [Member] | Credit Card [Member] | |||||
Finite Lived Intangible Assets [Line Items] | |||||
Additions due to acquisitions | 3,800 | ||||
Intangibles | $ 3,800 | ||||
Net intangible assets | $ 3,000 | 3,000 | |||
BSPR | Customer Relationships [Member] | Insurance Customer Intangible [Member] | |||||
Finite Lived Intangible Assets [Line Items] | |||||
Additions due to acquisitions | $ 0 |
GOODWILL - Goodwill by Segment
GOODWILL - Goodwill by Segment (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Goodwill [Line Items] | |
Goodwill as of January 1, 2019 | $ 28,098 |
Mergers and acquisitions | 6,303 |
Adjustments | 4,231 |
Goodwill as of December 31, 2020 | 38,632 |
Mortgage Banking [Member] | |
Goodwill [Line Items] | |
Goodwill as of January 1, 2019 | 0 |
Mergers and acquisitions | 574 |
Adjustments | 385 |
Goodwill as of December 31, 2020 | 959 |
Consumer Retail Banking Segment [Member] | |
Goodwill [Line Items] | |
Goodwill as of January 1, 2019 | 0 |
Mergers and acquisitions | 794 |
Adjustments | 533 |
Goodwill as of December 31, 2020 | 1,327 |
Commercial And Corporate Segment [Member] | |
Goodwill [Line Items] | |
Goodwill as of January 1, 2019 | 0 |
Mergers and acquisitions | 4,935 |
Adjustments | 3,313 |
Goodwill as of December 31, 2020 | 8,248 |
United States Operations Segment [Member] | |
Goodwill [Line Items] | |
Goodwill as of January 1, 2019 | 28,098 |
Mergers and acquisitions | 0 |
Adjustments | 0 |
Goodwill as of December 31, 2020 | $ 28,098 |
GOODWILL AND OTHER INTANGIBLE_3
GOODWILL AND OTHER INTANGIBLES - Gross Amount and Accumulated Amortization of Other Intangible Assets (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Finite-Lived Intangible Assets, Gross [Abstract] | |||
Beginning balance | $ 77,196 | $ 77,196 | $ 77,196 |
Ending balance | 116,428 | 77,196 | 77,196 |
Accumulated amortization: | |||
Beginning balance | (69,623) | (66,537) | (62,944) |
Amortization | (5,912) | (3,086) | (3,593) |
Ending balance | (75,535) | (69,623) | (66,537) |
Net intangible assets | 40,893 | 7,573 | 10,659 |
BSPR | |||
Finite-Lived Intangible Assets, Gross [Abstract] | |||
Additions due to acquisitions | 39,232 | ||
Core Deposits [Member] | |||
Finite-Lived Intangible Assets, Gross [Abstract] | |||
Beginning balance | 51,664 | 51,664 | 51,664 |
Ending balance | 87,096 | 51,664 | 51,664 |
Accumulated amortization: | |||
Beginning balance | (48,176) | (47,329) | (46,187) |
Amortization | (3,078) | (847) | (1,142) |
Ending balance | (51,254) | (48,176) | (47,329) |
Net intangible assets | 35,842 | 3,488 | 4,335 |
Core Deposits [Member] | BSPR | |||
Finite-Lived Intangible Assets, Gross [Abstract] | |||
Additions due to acquisitions | 35,432 | ||
Customer Relationships [Member] | Credit Card [Member] | |||
Finite-Lived Intangible Assets, Gross [Abstract] | |||
Beginning balance | 24,465 | 24,465 | 24,465 |
Ending balance | 28,265 | 24,465 | 24,465 |
Accumulated amortization: | |||
Beginning balance | (20,850) | (18,763) | (16,464) |
Amortization | (2,682) | (2,087) | (2,299) |
Ending balance | (23,532) | (20,850) | (18,763) |
Net intangible assets | 4,733 | 3,615 | 5,702 |
Customer Relationships [Member] | Credit Card [Member] | BSPR | |||
Finite-Lived Intangible Assets, Gross [Abstract] | |||
Additions due to acquisitions | 3,800 | ||
Accumulated amortization: | |||
Net intangible assets | 3,000 | ||
Customer Relationships [Member] | Insurance Customer Intangible [Member] | |||
Finite-Lived Intangible Assets, Gross [Abstract] | |||
Beginning balance | 1,067 | 1,067 | 1,067 |
Ending balance | 1,067 | 1,067 | 1,067 |
Accumulated amortization: | |||
Beginning balance | (597) | (445) | (293) |
Amortization | (152) | (152) | (152) |
Ending balance | (749) | (597) | (445) |
Net intangible assets | 318 | $ 470 | $ 622 |
Customer Relationships [Member] | Insurance Customer Intangible [Member] | BSPR | |||
Finite-Lived Intangible Assets, Gross [Abstract] | |||
Additions due to acquisitions | $ 0 |
GOODWILL - Yearly Amortization
GOODWILL - Yearly Amortization Expense (Detail) $ in Thousands | Dec. 31, 2020USD ($) |
Goodwill and other Intangible Assets [Abstract] | |
2021 | $ 11,293 |
2022 | 8,731 |
2023 | 7,651 |
2024 | 6,346 |
2025 | 3,469 |
2026 and after | $ 3,403 |
NON-CONSOLIDATED VARIABLE INT_3
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS - Additional Information (Detail) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||||
Feb. 16, 2011 | Sep. 30, 2004 | Apr. 30, 2004 | Sep. 30, 2020 | Mar. 31, 2018 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Servicing Liabilities At Fair Value [Line Items] | |||||||||
Gain on early extinguishment of debt | $ 94 | $ 0 | $ 2,316 | ||||||
Servicing Asset at Amortized Cost | 33,071 | 26,762 | $ 27,428 | $ 25,255 | |||||
Servicing Asset At Fair Value Amount | $ 40,294 | $ 31,027 | |||||||
Weighted-average yield | 1.28% | 2.52% | |||||||
Percentage Of Variation In Assumptions | 10.00% | ||||||||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Qualitative Information | These sensitivities are hypothetical and should be used with caution. As the figures indicate, changes in fair value based on a 10% variation in assumptions generally cannot be extrapolated because the relationship between the change in assumption and the change in fair value may not be linear. Also, in this table, the effect of a variation in a particular assumption on the fair value of the MSR is calculated without changing any other assumption; in reality, changes in one factor may result in changes in another (for example, increases in market interest rates may result in lower prepayments), which may magnify or counteract the sensitivities | ||||||||
Debt Securities, Available-for-sale, Allowance for Credit Loss | $ 1,310 | $ 0 | |||||||
Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||||||||
Servicing Liabilities At Fair Value [Line Items] | |||||||||
Cash realized on sale of loan | $ 11,400 | ||||||||
Minimum [Member] | |||||||||
Servicing Liabilities At Fair Value [Line Items] | |||||||||
Percentage Of Variation In Assumptions | 10.00% | ||||||||
Maximum [Member] | |||||||||
Servicing Liabilities At Fair Value [Line Items] | |||||||||
Percentage Of Variation In Assumptions | 20.00% | ||||||||
FirstBank [Member] | |||||||||
Servicing Liabilities At Fair Value [Line Items] | |||||||||
Payment To Be Made On Pro Rata Basis | 65.00% | ||||||||
Prlp [Member] | |||||||||
Servicing Liabilities At Fair Value [Line Items] | |||||||||
Payment To Be Made On Pro Rata Basis | 35.00% | ||||||||
Prlp [Member] | Minimum [Member] | |||||||||
Servicing Liabilities At Fair Value [Line Items] | |||||||||
Percentage Of Priority Interest To Be Received On Invested Capital | 12.00% | ||||||||
CPG/GS [Member] | |||||||||
Servicing Liabilities At Fair Value [Line Items] | |||||||||
Loans and Leases Receivable, Gross | $ 136,100 | ||||||||
CPG/GS [Member] | Commercial Portfolio Segment [Member] | |||||||||
Servicing Liabilities At Fair Value [Line Items] | |||||||||
Loans held for sale sold | 269,300 | ||||||||
CPG/GS [Member] | Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||||||||
Servicing Liabilities At Fair Value [Line Items] | |||||||||
Cash realized on sale of loan | $ 88,500 | ||||||||
CPG/GS [Member] | FirstBank [Member] | Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||||||||
Servicing Liabilities At Fair Value [Line Items] | |||||||||
Acquired equity interest | 35.00% | ||||||||
Statutory Trust One [Member] | |||||||||
Servicing Liabilities At Fair Value [Line Items] | |||||||||
Trust preferred securities repurchased | $ 400 | $ 23,800 | |||||||
Trust Preferred Purchase Price Percent | 75.00% | ||||||||
Trust Preferred Securties Discount | 25.00% | 10.00% | |||||||
Gain on early extinguishment of debt | $ 100 | $ 2,300 | |||||||
Trust Preferred Securities Winning Bid | 90.00% | ||||||||
Variable Rate Demand Obligation [Member] | Junior Subordinated Debt [Member] | |||||||||
Servicing Liabilities At Fair Value [Line Items] | |||||||||
Debt Instrument, Maturity Date, Description | The Junior Subordinated Deferrable Debentures 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). | ||||||||
Variable Rate Demand Obligation [Member] | Statutory Trust One [Member] | |||||||||
Servicing Liabilities At Fair Value [Line Items] | |||||||||
Proceeds from Issuance of Trust Preferred Securities | $ 100,000 | ||||||||
Proceeds of the issuance, together with proceeds of the purchase | 3,100 | ||||||||
Principal amount of corporation's junior subordinated deferrable debentures | $ 103,100 | ||||||||
Variable Rate Demand Obligation [Member] | Statutory Trust Two [Member] | |||||||||
Servicing Liabilities At Fair Value [Line Items] | |||||||||
Proceeds from Issuance of Trust Preferred Securities | $ 125,000 | ||||||||
Proceeds of the issuance, together with proceeds of the purchase | 3,900 | ||||||||
Principal amount of corporation's junior subordinated deferrable debentures | $ 128,900 | ||||||||
MBS [Member] | |||||||||
Servicing Liabilities At Fair Value [Line Items] | |||||||||
Weighted-average yield | 1.47% | 2.60% | |||||||
Debt Securities, Available-for-sale, Allowance for Credit Loss | $ 1,002 | ||||||||
MBS [Member] | Private label [Member] | |||||||||
Servicing Liabilities At Fair Value [Line Items] | |||||||||
Servicing Asset at Amortized Cost | 12,300 | ||||||||
Servicing Asset At Fair Value Amount | $ 8,400 | ||||||||
Weighted-average yield | 2.25% | ||||||||
Debt Securities, Available-for-sale, Allowance for Credit Loss | $ 1,002 | $ 0 | |||||||
MBS [Member] | Private label [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||||||
Servicing Liabilities At Fair Value [Line Items] | |||||||||
Debt Instrument Description Of Variable Rate Basis | 90-day LIBOR | ||||||||
GNMA [Member] | |||||||||
Servicing Liabilities At Fair Value [Line Items] | |||||||||
Principal amount of corporation serviced loans securitized through GNMA | $ 2,100,000 |
NON-CONSOLIDATED VARIABLE INT_4
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS - Changes in Servicing Assets (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Transfers and Servicing [Abstract] | |||
Balance at beginning of period | $ 26,762 | $ 27,428 | $ 25,255 |
Purchases Of Servicing Assets | 7,781 | 0 | 0 |
Capitalization of servicing assets | 4,864 | 4,039 | 3,864 |
Amortization | (5,777) | (4,592) | (2,895) |
Temporary impairment recoveries (charges), net | (206) | (43) | 1,289 |
Adjustment to servicing assets for loans repurchased | (353) | (70) | (85) |
Balance at end of period | $ 33,071 | $ 26,762 | $ 27,428 |
NON-CONSOLIDATED VARIABLE INT_5
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS - Changes in Impairment Allowance (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Transfers and Servicing [Abstract] | |||
Balance at beginning of period | $ 73 | $ 30 | $ 1,451 |
Temporary impairment charges | 301 | 78 | 123 |
OTTI of servicing assets | (77) | 0 | (132) |
Recoveries | (95) | (35) | (1,412) |
Balance at end of period | $ 202 | $ 73 | $ 30 |
NON-CONSOLIDATED VARIABLE INT_6
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS - Components of Net Servicing Income (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Transfers and Servicing [Abstract] | |||
Servicing fees | $ 9,268 | $ 8,522 | $ 8,704 |
Late charges and prepayment penalties | 570 | 610 | 510 |
Adjustment to servicing assets for loans repurchased | (353) | (70) | (85) |
Other | 0 | (15) | (8) |
Servicing income, gross | 9,485 | 9,047 | 9,121 |
Amortization and impairment of servicing assets | (5,983) | (4,635) | (1,606) |
Servicing income, net | $ 3,502 | $ 4,412 | $ 7,515 |
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) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
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% | 6.50% |
Discount rate | 10.00% | 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% | 10.30% |
Discount rate | 14.30% | 14.30% | 14.30% |
Maximum [Member] | Government-guaranteed mortgage loans [Member] | |||
Assumption For Fair Value On Securitization Date Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities [Line Items] | |||
Constant prepayment rate | 6.50% | 6.40% | 6.00% |
Discount rate | 12.00% | 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% | 6.20% |
Discount rate | 10.00% | 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% | 9.10% |
Discount rate | 13.70% | 14.30% | 14.30% |
Minimum [Member] | Government-guaranteed mortgage loans [Member] | |||
Assumption For Fair Value On Securitization Date Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities [Line Items] | |||
Constant prepayment rate | 6.20% | 6.20% | 5.60% |
Discount rate | 12.00% | 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 | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Transfers and Servicing [Abstract] | ||||
Carrying amount of servicing assets | $ 33,071 | $ 26,762 | $ 27,428 | $ 25,255 |
Fair value | $ 40,294 | $ 31,027 | ||
Weighted-average expected life | 7 years 10 months 9 days | 8 years 4 months 20 days | ||
Constant prepayment rate | 6.73% | 6.45% | ||
Decrease in fair value due to 10% adverse change | $ 1,006 | $ 748 | ||
Decrease in fair value due to 20% adverse change | $ 1,970 | $ 1,464 | ||
Discount rate | 11.20% | 11.27% | ||
Decrease in fair value due to 10% adverse change | $ 1,772 | $ 1,450 | ||
Decrease in fair value due to 20% adverse change | $ 3,409 | $ 2,783 |
LOANS PAYABLE - Additional Info
LOANS PAYABLE - Additional Information (Detail) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Short Term Debt [Line Items] | ||
Loans Pledged as Collateral | $ 2,500,000,000 | $ 1,800,000,000 |
FederalReserveBankAdvancesMember | ||
Short Term Debt [Line Items] | ||
ShortTermBorrowings | 0 | |
Loans Pledged as Collateral | 1,600,000,000 | |
FED Discount Window funds availability | $ 960,000,000 |
DEPOSITS - Narratives (Detail)
DEPOSITS - Narratives (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Deposits [Line Items] | |||
Weighted-average interest rate on total interest-bearing | 0.55% | 1.18% | |
Unplanned overdrafts of demand deposits that were reclassified as loans | $ 800 | $ 4,100 | |
Pre-arranged overdrafts lines of credit | 26,000 | 28,600 | |
CDs in denominations of $100,000 or higher | 2,300,000 | 2,400,000 | |
Brokered certificates of deposit | 216,172 | 435,089 | |
Unamortized broker placement fees | 400 | 900 | |
Deposits | 15,317,383 | 9,348,429 | |
Market value of uninsured portions collateralized by securities and loans | 2,100,000 | 769,600 | |
Amortized cost of uninsured portions collateralized by securities and loans | 2,000,000 | 780,900 | |
Accretion Of Premium From Acquisition | 1,000 | ||
Letters of credit issued by the FHLB as pledges for public deposits in the Virgin Islands | 2,500,000 | 1,800,000 | |
Amortization Of Broker Placement Fees | 537 | 732 | $ 1,163 |
Time deposits in denomnations of $250,000 or more | $ 1,000,000 | $ 1,300,000 | |
CDs including brokered CDs [Member] | |||
Deposits [Line Items] | |||
Weighted Average Interest Rate of Time Deposits, $100,000 or More | 2.00% | 2.15% | |
Brokered Cds in denominations of $100,000 or higher [Member] | |||
Deposits [Line Items] | |||
Brokered certificates of deposit | $ 216,100 | $ 434,800 | |
Federal Home Loan Bank [Member] | |||
Deposits [Line Items] | |||
Letters of credit issued by the FHLB as pledges for public deposits in the Virgin Islands | 2,200,000 | 1,600,000 | |
Government [Member] | |||
Deposits [Line Items] | |||
Deposits | 2,100,000 | 1,100,000 | |
Puerto Rico [Member] | |||
Deposits [Line Items] | |||
Brokered certificates of deposit | 109,000 | 243,400 | 441,100 |
Deposits | 12,338,934 | 6,422,864 | 6,208,531 |
Puerto Rico [Member] | Government [Member] | |||
Deposits [Line Items] | |||
Deposits | 1,800,000 | 826,900 | |
United States [Member] | |||
Deposits [Line Items] | |||
Brokered certificates of deposit | 107,100 | 191,700 | 114,500 |
Deposits | 1,622,481 | 1,661,657 | 1,519,362 |
United States [Member] | Government [Member] | |||
Deposits [Line Items] | |||
Deposits | 9,700 | 7,600 | |
Virgin Islands [Member] | |||
Deposits [Line Items] | |||
Deposits | 1,355,968 | 1,263,908 | $ 1,266,821 |
Virgin Islands [Member] | Federal Home Loan Bank [Member] | |||
Deposits [Line Items] | |||
Letters of credit issued by the FHLB as pledges for public deposits in the Virgin Islands | 212,000 | ||
Virgin Islands [Member] | Government [Member] | |||
Deposits [Line Items] | |||
Deposits | $ 280,200 | $ 227,700 |
DEPOSITS - Summary of Deposit B
DEPOSITS - Summary of Deposit Balances (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Deposits, by Type [Abstract] | ||
Non-interest bearing checking accounts | $ 4,546,123 | $ 2,367,856 |
Savings accounts | 4,088,969 | 2,437,345 |
Interest-bearing checking accounts | 3,651,806 | 1,412,390 |
Certificates of deposit | 2,814,313 | 2,695,749 |
Brokered certificates of deposit | 216,172 | 435,089 |
Total deposits | $ 15,317,383 | $ 9,348,429 |
DEPOSITS- Certificates of Depos
DEPOSITS- Certificates of Deposits Mature (Detail) $ in Thousands | Dec. 31, 2020USD ($) |
Deposits [Abstract] | |
Three months or less | $ 658,417 |
Over three months to six months | 527,542 |
Over six months to one year | 779,370 |
Over one year to two years | 594,688 |
Over two years to three years | 252,014 |
Over three years to four years | 135,653 |
Over four years to five years | 68,260 |
Over five years | 14,541 |
Total | $ 3,030,485 |
DEPOSITS - Summary of Deposits
DEPOSITS - Summary of Deposits Balance (Parenthetical) (Detail) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Minimum [Member] | ||
Deposits [Line Items] | ||
Interest-bearing savings accounts | 0.05% | 0.05% |
Interest-bearing checking accounts | 0.05% | 0.05% |
Certificates of deposit | 0.10% | 0.10% |
Brokered certificates of deposit | 0.85% | 1.20% |
Maximum [Member] | ||
Deposits [Line Items] | ||
Interest-bearing savings accounts | 1.40% | 2.00% |
Interest-bearing checking accounts | 1.75% | 1.00% |
Certificates of deposit | 4.75% | 4.00% |
Brokered certificates of deposit | 2.75% | 3.00% |
DEPOSITS - Brokered Certificate
DEPOSITS - Brokered Certificates Of Deposit Mature (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Deposits [Abstract] | ||
Three months or less | $ 54,118 | |
Over three months to six months | 24,502 | |
Over six months to one year | 37,287 | |
Over one year to three years | 77,953 | |
Over three years to five years | 22,312 | |
Over five years | 0 | |
Total | $ 216,172 | $ 435,089 |
DEPOSITS - Interest Expenses on
DEPOSITS - Interest Expenses on deposits (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Interest Expense, Deposits [Abstract] | |||
Interest-bearing checking accounts | $ 5,933 | $ 6,071 | $ 5,208 |
Savings | 11,116 | 16,017 | 14,298 |
Certificates of deposit | 43,350 | 44,658 | 33,652 |
Brokered certificates of deposit | 7,989 | 11,036 | 14,493 |
Interest expense on deposits | $ 68,388 | $ 77,782 | $ 67,651 |
SECURITIES SOLD UNDER AGREEME_3
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE - Narratives (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Securities Sold Under Agreements To Repurchase And Other Short Term Borrowings [Line Items] | ||
Maximum aggregate balance outstanding | $ 300,000 | $ 100,000 |
Repurchase Agreements [Member] | ||
Securities Sold Under Agreements To Repurchase And Other Short Term Borrowings [Line Items] | ||
Accrued interest payable on repurchase agreements | 1,000 | 800 |
Maximum [Member] | ||
Securities Sold Under Agreements To Repurchase And Other Short Term Borrowings [Line Items] | ||
Maximum aggregate balance outstanding | 475,800 | 150,100 |
Weighted Average [Member] | ||
Securities Sold Under Agreements To Repurchase And Other Short Term Borrowings [Line Items] | ||
Average balance outstanding | $ 291,500 | $ 110,600 |
Weighted Average [Member] | Repurchase Agreements [Member] | ||
Securities Sold Under Agreements To Repurchase And Other Short Term Borrowings [Line Items] | ||
Weighted-average interest rate during the year | 2.28% | 6.01% |
SECURITIES SOLD UNDER AGREEME_4
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE - Securities Sold Under Agreements to Repurchase (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Securities Sold Under Agreements To Repurchase [Line Items] | ||
Repurchase agreements | $ 300,000 | $ 100,000 |
Short-term Debt [Member] | ||
Securities Sold Under Agreements To Repurchase [Line Items] | ||
Repurchase agreements | 0 | 0 |
Long-term Debt [Member] | ||
Securities Sold Under Agreements To Repurchase [Line Items] | ||
Repurchase agreements | $ 300,000 | $ 100,000 |
SECURITIES SOLD UNDER AGREEME_5
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE - Securities Sold Under Agreements to Repurchase (Parenthetical) (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Securities Sold Under Agreements To Repurchase [Line Items] | ||
Reverse repurchase | $ 0 | $ 200,000 |
Long-term Debt [Member] | ||
Securities Sold Under Agreements To Repurchase [Line Items] | ||
Weighted-average interest rates on repurchase agreements | 1.77% | 2.26% |
Reverse repurchase | $ 200,000 |
SECURITIES SOLD UNDER AGREEME_6
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE - Schedule of Repurchase Agreement Maturity (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Securities Sold Under Agreements To Repurchase [Line Items] | ||
Securities Sold Under Agreements To Repurchase | $ 300,000 | $ 100,000 |
Over one year to three years | ||
Securities Sold Under Agreements To Repurchase [Line Items] | ||
Securities Sold Under Agreements To Repurchase | 100,000 | |
Over three years to five years | ||
Securities Sold Under Agreements To Repurchase [Line Items] | ||
Securities Sold Under Agreements To Repurchase | $ 200,000 |
SECURITIES SOLD UNDER AGREEME_7
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE - Securities sold under agreements to repurchase, Underlying Securities (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Securities Sold Under Agreements To Repurchase [Line Items] | ||
Amortized Cost of Underlying Securities | $ 332,859 | $ 129,406 |
Balance of Borrowings | 300,000 | 100,000 |
Approximate Fair Value of Underlying Securities | 341,789 | 130,165 |
Accrued interest receivable on loans and investments | 69,505 | 50,205 |
Repurchase Agreements [Member] | ||
Securities Sold Under Agreements To Repurchase [Line Items] | ||
Accrued interest receivable on loans and investments | 753 | 347 |
Repurchase Agreements [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities Sold Under Agreements To Repurchase [Line Items] | ||
Amortized Cost of Underlying Securities | 12,219 | 13,776 |
Balance of Borrowings | 11,013 | 4,723 |
Approximate Fair Value of Underlying Securities | $ 12,351 | $ 13,768 |
Weighted-average interest rates on repurchase agreements | 1.94% | 1.53% |
Repurchase Agreements [Member] | Mortgage Backed Securities [Member] | ||
Securities Sold Under Agreements To Repurchase [Line Items] | ||
Amortized Cost of Underlying Securities | $ 320,640 | $ 115,630 |
Balance of Borrowings | 288,987 | 95,277 |
Approximate Fair Value of Underlying Securities | $ 329,438 | $ 116,397 |
Weighted-average interest rates on repurchase agreements | 1.65% | 2.31% |
SECURITIES SOLD UNDER AGREEME_8
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE - Repurchase Agreements Grouped by Counterparty (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Repurchase Agreement Counterparty [Line Items] | ||
Repurchase agreements | $ 300,000 | $ 100,000 |
Jp Morgan Chase [Member] | ||
Repurchase Agreement Counterparty [Line Items] | ||
Repurchase agreements | $ 100,000 | |
Weighted-Average Maturity | 13 months | |
CREDIT SUISSE (US) [Member] | ||
Repurchase Agreement Counterparty [Line Items] | ||
Repurchase agreements | $ 200,000 | |
Weighted-Average Maturity | 49 months |
ADVANCES FROM THE FEDERAL HOM_3
ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) - Summary of Advances from FHLB (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Federal Home Loan Bank, Advances [Line Items] | ||
Fixed-rate advances from FHLB | $ 440,000 | $ 570,000 |
Short-term Debt [Member] | ||
Federal Home Loan Bank, Advances [Line Items] | ||
Fixed-rate advances from FHLB | 0 | 35,000 |
Long-term Debt [Member] | ||
Federal Home Loan Bank, Advances [Line Items] | ||
Fixed-rate advances from FHLB | $ 440,000 | $ 535,000 |
ADVANCES FROM THE FEDERAL HOM_4
ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) - Summary of Advances from FHLB (Parenthetical) (Detail) | Dec. 31, 2020 | Dec. 31, 2019 |
Short-term Debt [Member] | ||
Federal Home Loan Bank, Advances [Line Items] | ||
Weighted-interest rate | 1.83% | |
Federal Home Loan Bank, Advance, Branch of FHLB Bank, Interest Rate, Type [Fixed List] | Fixed | Fixed |
Long-term Debt [Member] | ||
Federal Home Loan Bank, Advances [Line Items] | ||
Weighted-interest rate | 2.26% | 2.21% |
Federal Home Loan Bank, Advance, Branch of FHLB Bank, Interest Rate, Type [Fixed List] | Fixed | Fixed |
ADVANCES FROM THE FEDERAL HOM_5
ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) - Advances from FHLB Mature (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Federal Home Loan Bank, Advances, Fixed Rate [Abstract] | ||
Within one month | $ 0 | |
Over three to six months | 120,000 | |
Over six months to one year | 120,000 | |
Over one to three years | 200,000 | |
Total | $ 440,000 | $ 570,000 |
ADVANCES FROM THE FEDERAL HOM_6
ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Federal Home Loan Bank, Advances [Line Items] | ||
Qualifying Mortgage Collateral With Market Value Higher Than Outstanding Advances | 125.00% | |
Loans Pledged as Collateral | $ 2,500 | $ 1,800 |
Additional capacity on credit facility based on collateral pledged | 1.2 | |
Federal Home Loan Bank Advances [Member] | ||
Federal Home Loan Bank, Advances [Line Items] | ||
Loans Pledged As Collateral Fair Value | 1,600 | 1,300 |
Loans Pledged as Collateral | $ 2,200 | $ 1,600 |
OTHER BORROWINGS - Components o
OTHER BORROWINGS - Components of Other Borrowings (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Subordinated Borrowing [Line Items] | ||
Junior subordinated debentures | $ 183,762 | $ 184,150 |
due June 17, 2034 [Member] | Statutory Trust One [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debentures | 65,205 | 65,593 |
due September 20, 2034 [Member] | Statutory Trust Two [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debentures | $ 118,557 | $ 118,557 |
OTHER BORROWINGS - Components_2
OTHER BORROWINGS - Components of Other Borrowings (Parenthetical) (Detail) - Junior Subordinated Debt [Member] - London Interbank Offered Rate (LIBOR) [Member] | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
due June 17, 2034 [Member] | Statutory Trust One [Member] | ||
Subordinated Borrowing [Line Items] | ||
Debt Instrument Basis Spread On Variable Rate | 2.75% | |
Debt Instrument Description Of Variable Rate Basis | 3-month LIBOR | |
Long Term Debt Percentage Bearing Variable Interest Rate | 2.98% | 4.65% |
Subordinated Borrowing Due Date | Jun. 17, 2034 | |
due September 20, 2034 [Member] | Statutory Trust Two [Member] | ||
Subordinated Borrowing [Line Items] | ||
Debt Instrument Basis Spread On Variable Rate | 2.50% | |
Debt Instrument Description Of Variable Rate Basis | 3-month LIBOR | |
Long Term Debt Percentage Bearing Variable Interest Rate | 2.74% | 4.41% |
Subordinated Borrowing Due Date | Sep. 20, 2034 |
EARNINGS PER COMMON SHARE - Cal
EARNINGS PER COMMON SHARE - Calculations of Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Net income: | |||
Net income | $ 102,273 | $ 167,377 | $ 201,608 |
Net income attributable to common stockholders | $ 99,597 | $ 164,701 | $ 198,932 |
Weighted-Average Shares: | |||
Average common shares outstanding | 216,904 | 216,614 | 215,709 |
Average potential dillutive common shares | 764 | 520 | 968 |
Average common shares outstanding - assuming dillution | 217,668 | 217,134 | 216,677 |
Earnings Per Share, Basic and Diluted [Abstract] | |||
Basic | $ 0.46 | $ 0.76 | $ 0.92 |
Diluted | $ 0.46 | $ 0.76 | $ 0.92 |
EARNINGS PER COMMON SHARE - Add
EARNINGS PER COMMON SHARE - Additional Information (Detail) - Common Stock Outstanding [Member] - Department Of Treasury [Member] | May 17, 2018shares |
Noncash or Part Noncash Acquisitions [Line Items] | |
Common stock purchased through a warrants excercise | 1,285,899 |
Common stock shares issued for exercised warrants | 730,571 |
STOCK-BASED COMPENSATION - Omni
STOCK-BASED COMPENSATION - Omnibus Plan - Additional Information (Detail) - Omnibus Plan [Member] | Dec. 31, 2020shares |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Authorized granting up shares | 14,169,807 |
Restricted stock available for issuance | 5,670,102 |
STOCK-BASED COMPENSATION - Rest
STOCK-BASED COMPENSATION - Restricted Stock - Additional Information (Detail) - Omnibus Plan [Member] - Restricted Stock [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Granted shares restricted stocks | 911,470 | ||
Stock-based compensation expense | $ 3.2 | $ 2.8 | $ 3.4 |
Unrecognized compensation cost related to unvested shares | $ 3.2 | ||
Period for cost recognition not yet recognized | 1 year 6 months | ||
Director [Member] | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Granted shares restricted stocks | 59,797 | 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 restricted stocks | 851,673 | 262,371 | |
Retirement Eligible Shares | 47,194 | 16,808 | |
Restricted stock vesting after two-year anniversary of the grant date [Member] | Management [Member] | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Restricted stock vesting percentage | 50.00% | 50.00% | |
Restricted stock vesting after three-year anniversary of the grant date [Member] | Management [Member] | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Restricted stock vesting percentage | 50.00% | 50.00% |
STOCK-BASED COMPENSATION - Re_2
STOCK-BASED COMPENSATION - Restricted Stock Activity Under Omnibus Plan (Detail) - Omnibus Plan [Member] - Restricted Stock [Member] | 12 Months Ended |
Dec. 31, 2020$ / sharesshares | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Unvested shares outstanding, beginning of period | shares | 644,805 |
Granted | shares | 911,470 |
Forefeited | shares | (3,086) |
Vested | shares | (232,466) |
Unvested shares of outstanding, end of period | shares | 1,320,723 |
Weighted-Average Grant Date Fair Value, beginning of period | $ / shares | $ 8.51 |
Weighted-Average Grant Date Fair Value, Granted | $ / shares | 4.16 |
Weighted-Averages Grant Date Dair Value, Forfeited | $ / shares | 6.07 |
Weighted-Average 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 Shares [member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Granted performance units | 502,307 | ||
Stock-based compensation expense | $ 1.8 | $ 1.1 | $ 0.6 |
Unrecognized compensation cost related to unvested performance units | $ 2.6 | ||
Executives [Member] | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Granted performance units | 502,307 | 200,053 | 304,408 |
Requisite service period | 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] | 12 Months Ended |
Dec. 31, 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 of 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] - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Unrestricted stock | 19,157 | 0 |
Stock-based compensation expense | $ 0.1 |
STOCK-BASED COMPENSATION - Sala
STOCK-BASED COMPENSATION - Salary Stock - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Repurchased of common stock | 51,814 | 176,015 | |
Omnibus Plan [Member] | Restricted Stock [Member] | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Weighted-Average Grant Date Fair Value, Granted | $ 4.16 | ||
Compensation expense | $ 3.2 | $ 2.8 | $ 3.4 |
Repurchased of common stock | 51,814 | 176,015 | |
Omnibus Plan [Member] | Salary Stock Compensation Plan [Member] | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Weighted-Average Grant Date Fair Value, Granted | $ 6.51 | ||
Compensation expense | $ 1.7 |
STOCKHOLDERS' EQUITY - Addition
STOCKHOLDERS' EQUITY - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | Jan. 28, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Class Of Stock [Line Items] | ||||
Common stock, shares authorized | 2,000,000,000 | 2,000,000,000 | ||
Common stock, par value | $ 0.1 | $ 0.1 | ||
Common stock, shares issued | 223,034,348 | 222,103,721 | ||
Common stock, shares outstanding | 218,235,064 | 217,359,337 | ||
Dividends declared per common share | $ 0.07 | $ 0.20 | $ 0.14 | $ 0.03 |
Increase in dividends per share declared | $ 0.02 | |||
Preferred Stock Shares Authorized | 50,000,000 | 50,000,000 | ||
Preferred stock, par value | $ 1 | |||
Liquidation value per share, Preferred stock | $ 25 | |||
Treasury Stock Shares Acquired | 51,814 | 176,015 | ||
Treasury Stock Shares | 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 the legal surplus reserve is not sufficient to cover such balance in whole or in part, the outstanding amount must be charged against the capital account and the Bank cannot pay dividends until it can replenish the legal surplus reserve to an amount of at least 20% of the original capital contributed. | |||
Legal Surplus Amount Additions | $ 11,700 | $ 17,400 | ||
Legal Surplus Amount | $ 109,338 | 97,586 | ||
7.125% Noncumulative Perpetual Monthly Income Preferred Stock, Series A [Member] | ||||
Class Of Stock [Line Items] | ||||
Preferred stock dividend rate percentage | 7.125% | |||
8.35% Noncumulative Perpetual Monthly Income Preferred Stock, Series B [Member] | ||||
Class Of Stock [Line Items] | ||||
Preferred stock dividend rate percentage | 8.35% | |||
7.40% Noncumulative Perpetual Monthly Income Preferred Stock, Series C [Member] | ||||
Class Of Stock [Line Items] | ||||
Preferred stock dividend rate percentage | 7.40% | |||
7.25% Noncumulative Perpetual Monthly Income Preferred Stock, Series D [Member] | ||||
Class Of Stock [Line Items] | ||||
Preferred stock dividend rate percentage | 7.25% | |||
7.00% Noncumulative Perpetual Monthly Income Preferred Stock, Series E [Member] | ||||
Class Of Stock [Line Items] | ||||
Preferred stock dividend rate percentage | 7.00% | |||
Common Stock [Member] | ||||
Class Of Stock [Line Items] | ||||
Dividends declared | $ 43,800 | $ 30,500 | ||
Preferred Stock [Member] | ||||
Class Of Stock [Line Items] | ||||
Dividends declared | $ 2,700 |
EMPLOYEE BENEFIT PLANS - Change
EMPLOYEE BENEFIT PLANS - Changes in Projected Benefit Obligation and Changes in Plan Assets (Detail) $ in Thousands | 4 Months Ended |
Dec. 31, 2020USD ($) | |
Changes in plan assets: | |
Fair vale of plan assets, ending balance | $ 106,000 |
Pension Plan [Member] | |
Changes in projected benefit obligation: | |
Interest cost | 900 |
Actuarial loss | 1,321 |
Benefits paid | (1,539) |
Projected benefit obligation, ending balance | 108,253 |
Changes in plan assets: | |
Actual return on plan assets | 2,980 |
Benefits paid | (1,539) |
Fair vale of plan assets, ending balance | 105,963 |
Net benefit obligation | (2,290) |
Postretirement Benefit Plan [Member] | |
Changes in projected benefit obligation: | |
Interest cost | 2 |
Actuarial loss | 28 |
Benefits paid | (20) |
Projected benefit obligation, ending balance | 245 |
Changes in plan assets: | |
Actual return on plan assets | 0 |
Benefits paid | 0 |
Fair vale of plan assets, ending balance | 0 |
Net benefit obligation | $ (245) |
EMPLOYEE BENEFIT PLANS - Pre-ta
EMPLOYEE BENEFIT PLANS - Pre-tax Amounts Recognized in Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Sep. 01, 2020 |
Pension Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net acturial loss | $ 404 | |
Net amount recognized | 404 | $ 0 |
Postretirement Benefit Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net acturial loss | 28 | |
Net amount recognized | $ 28 | $ 0 |
EMPLOYEE BENEFIT PLANS - Summar
EMPLOYEE BENEFIT PLANS - Summary of Financial Data Relative to the Pension Plans and the Postretirement Benefit Plan (Detail) $ in Thousands | 4 Months Ended |
Dec. 31, 2020USD ($) | |
Weighted average assumptions used to determine net periodic pension cost: | |
Expected return on plan assets | 5.99% |
Pension Plan [Member] | |
Net periodic benefit income: | |
Interest cost | $ 900 |
Expected return on plan assets | (2,062) |
Net periodic benefit income | (1,162) |
Pre-tax amounts recognized in OCI: | |
Net actuarial loss | 404 |
Net amount recognized in OCI | 404 |
Total net periodic pension income recognized in total comprehensive income, pre-tax | $ (758) |
Weighted average assumptions used to determine net periodic pension cost: | |
Discount Rate | 2.36% |
Expected return on plan assets | 5.99% |
Postretirement Benefit Plan [Member] | |
Net periodic benefit income: | |
Interest cost | $ 2 |
Expected return on plan assets | 0 |
Net periodic benefit income | 2 |
Pre-tax amounts recognized in OCI: | |
Net actuarial loss | 28 |
Net amount recognized in OCI | 28 |
Total net periodic pension income recognized in total comprehensive income, pre-tax | $ 30 |
Weighted average assumptions used to determine net periodic pension cost: | |
Discount Rate | 2.44% |
EMPLOYEE BENEFIT PLANS - Chan_2
EMPLOYEE BENEFIT PLANS - Changes in Accumulated Other Comprehensive Loss of the Pension Plans and Postretirement Benefit Plan (Detail) $ in Thousands | 4 Months Ended |
Dec. 31, 2020USD ($) | |
Pension Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Net actuarial loss | $ 404 |
Total increase in other comprehensive loss | 404 |
Accumulated other comprehensive loss at end of period | 404 |
Postretirement Benefit Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Net actuarial loss | 28 |
Total increase in other comprehensive loss | 28 |
Accumulated other comprehensive loss at end of period | $ 28 |
EMPLOYEE BENEFIT PLANS - Projec
EMPLOYEE BENEFIT PLANS - Projected Benefit Obligation and Accumulated Benefit Obligation in Excess of Plan Assets (Detail) $ in Thousands | Dec. 31, 2020USD ($) |
Pension Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Projected benefit obligation | $ 70,179 |
Accumulated benefit obligation | 70,179 |
Fair value of plan assets | 64,200 |
Postretirement Benefit Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Projected benefit obligation | 245 |
Accumulated benefit obligation | 245 |
Fair value of plan assets | $ 0 |
EMPLOYEE BENEFIT PLANS - Pensio
EMPLOYEE BENEFIT PLANS - Pension Plans Weigthed-average Asset Allocations (Detail) | Dec. 31, 2020 |
Defined Benefit Plan Disclosure [Line Items] | |
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage | 100.00% |
Equity securities [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage | 0.00% |
Debt securities [Member} | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage | 0.00% |
Investment in funds [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage | 98.00% |
Other [Member} | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage | 2.00% |
EMPLOYEE BENEFIT PLANS - Expect
EMPLOYEE BENEFIT PLANS - Expected Future Benefit Payments for the Plans (Detail) $ in Thousands | Dec. 31, 2020USD ($) |
Pension Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
2021 | $ 6,415 |
2022 | 6,935 |
2023 | 6,862 |
2024 | 6,793 |
2025 | 6,299 |
2026 through 2030 | 28,944 |
Other Postretirement Benefit Plans Defined Benefit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
2021 | 57 |
2022 | 47 |
2023 | 38 |
2024 | 30 |
2025 | 24 |
2026 through 2030 | $ 58 |
EMPLOYEE BENEFIT PLANS - Narrat
EMPLOYEE BENEFIT PLANS - Narratives (Detail) - USD ($) | 4 Months Ended | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Expected return on plan assets | 5.99% | |||
Fair value of plan assets | $ 106,000,000 | $ 106,000,000 | ||
Defined Contribution Plan, Employer Matching Contribution, Percent | 50.00% | |||
Employee contribution percent maximum to get employer matching contribution | 6.00% | |||
Total plan expense | $ 3,000,000 | $ 2,900,000 | $ 1,500,000 | |
Matching Constribution Description | The matching contribution of fifty cents for every dollar of the employee’s contribution is comprised of: (i) twenty-five cents for every dollar of the employee’s contribution up to 6% of the employee’s eligible compensation to be paid to the Plan as of each bi-weekly payroll; and (ii) an additional twenty-five cents for every dollar of the employee’s contribution up to 6% of the employee’s eligible compensation to be deposited as a lump sum subsequent to the Plan Year. | |||
Additional discretionary contribution | $ 0 | |||
Santander [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Employee contribution percent maximum to get employer matching contribution | 6.00% | |||
PUERTO RICO | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined Contribution Plan, Maximum Annual Contribution Per Employee, Amount | $ 15,000 | 15,000 | 15,000 | |
United States And Virign Islands Operations [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined Contribution Plan, Maximum Annual Contribution Per Employee, Amount | $ 19,500 | $ 19,000 | $ 18,500 |
OTHER NON- INTEREST EXPENSES- D
OTHER NON- INTEREST EXPENSES- Detail of other non-interest expenses (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Other Non Interest Expenses [Abstract] | |||
Supplies and printing | $ 2,391 | $ 1,966 | $ 2,177 |
Amortization Of Intangible Assets | 5,912 | 3,086 | 3,593 |
Servicing and processing fees | 4,696 | 4,781 | 4,991 |
Insurance and supervisory fees | 6,324 | 3,596 | 4,602 |
Provision for operational losses | 3,390 | 2,164 | 1,836 |
Other | 3,105 | 4,640 | 5,140 |
Total | $ 25,818 | $ 20,233 | $ 22,339 |
OTHER NON- INTEREST INCOME- Det
OTHER NON- INTEREST INCOME- Detail of other non-interest income (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Non Deferrable Loan Fees | $ 3,750 | $ 2,789 | $ 2,384 |
ATM and POS fees | 7,723 | 9,147 | 9,515 |
Credit and debit card intercharge and other fees | 12,042 | 11,759 | 9,598 |
Mail and cable transmission comissions | 2,540 | 2,207 | 2,101 |
Fair value adjustments and gain (losses) on sales of commercial and construction loans held for sale | 0 | 2,316 | (3,186) |
Gain (loss) from sales of fixed-assets | 215 | (242) | 1,366 |
Gain from insurance proceeds | 5,000 | 660 | 537 |
Other | 4,720 | 5,638 | 5,183 |
Total | 41,834 | 39,909 | 32,742 |
Credit Card, Merchant Discount [Member] | |||
Merchant related income | $ 5,844 | $ 5,635 | $ 5,244 |
INCOME TAXES - Additional Infor
INCOME TAXES - Additional Information (Detail) - USD ($) $ in Thousands | Jan. 01, 2020 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Income Tax Contingency [Line Items] | |||||
Maximum corporate tax rate | 37.50% | 37.50% | 39.00% | ||
Net deferred tax asset | $ 329,261 | $ 264,842 | |||
Reversal of deferred tax asset valuation allowance | (8,000) | 0 | $ (63,228) | ||
Deferred tax asset related to NOLs | 144,700 | ||||
Valuation allowance | 101,984 | 86,553 | |||
Deferred tax asset not subject to expiration period | 210,700 | 92,000 | |||
Income tax expense (benefit) | 14,050 | 71,995 | $ (10,970) | ||
UTBs | 1,000 | ||||
ASC 326 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||
Income Tax Contingency [Line Items] | |||||
Increase in Deferred Tax Assets | $ 31,300 | ||||
Santander [Member] | |||||
Income Tax Contingency [Line Items] | |||||
Net deferred tax asset | $ 28,900 | ||||
Reversal of deferred tax asset valuation allowance | $ (8,000) | ||||
UTBs | 1,000 | ||||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 117 | ||||
U S [Member] | |||||
Income Tax Contingency [Line Items] | |||||
Income tax expense (benefit) | 4,900 | 4,500 | |||
FirstBank [Member] | |||||
Income Tax Contingency [Line Items] | |||||
Net deferred tax asset | 329,100 | 264,800 | |||
Valuation allowance | 59,900 | $ 55,600 | |||
Holding Company and First Management [Member] | |||||
Income Tax Contingency [Line Items] | |||||
Valuation allowance | $ 43,000 | ||||
Domestic Country [Member] | Subsidiaries [Member] | |||||
Income Tax Contingency [Line Items] | |||||
Dividend received deduction | 100.00% | ||||
Domestic Country [Member] | Other taxable domestic corporations [Member] | |||||
Income Tax Contingency [Line Items] | |||||
Dividend received deduction | 85.00% |
INCOME TAXES- Components of inc
INCOME TAXES- Components of income tax expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Components of Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current income tax expense | $ 18,421 | $ 16,986 | $ 14,073 |
Deferred income tax expense (benefit): | |||
Adjustment for enacted changes in tax law | 0 | 0 | 15,402 |
Reversal of deferred tax asset valuation allowance | (8,000) | 0 | (63,228) |
Other deferred income tax expense (benefit) | 3,629 | 55,009 | 22,783 |
Total income tax expense (benefit) | $ 14,050 | $ 71,995 | $ (10,970) |
INCOME TAXES- Reconciliations o
INCOME TAXES- Reconciliations of Income tax expenses (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | |||
Computed income tax at statutory rate | $ 43,621 | $ 89,764 | $ 74,349 |
Federal and state taxes | 4,944 | 4,467 | 3,768 |
Benefit of net exempt income | (26,780) | (24,811) | (22,782) |
Disallowed NOL carryforward resulting from net exempt income | 9,054 | 15,887 | 14,904 |
Deferred tax valuation allowance | (12,095) | (14,108) | (90,521) |
Adjustments in net deferred tax assets due to changes in enacted tax rates | 0 | 0 | 15,402 |
Share based compensation windfull | 157 | (1,165) | (1,595) |
Non deductible expenses and other permanent differences | (387) | (1,712) | (839) |
Tax return to provision adjustments | 597 | 1,846 | 4 |
Other-net | (5,061) | 1,827 | (3,660) |
Total income tax expense (benefit) | $ 14,050 | $ 71,995 | $ (10,970) |
Federal and state taxes % | 4.20% | 1.60% | 2.00% |
Benefit of net exempt income % | (23.00%) | (10.40%) | (12.00%) |
Disallowed NOL carryforward resulting from net exempt income % | 7.80% | 6.60% | 7.80% |
Deferred tax valuation allowance % | (10.40%) | (5.90%) | (47.50%) |
Adjustments in net deferred tax assets due to changes in enacted tax rates % | 0.00% | 0.00% | 8.10% |
Share based compensation windfall % | 0.10% | (0.50%) | (0.80%) |
Nondeductible expenses and other permanent differences % | (0.30%) | (0.70%) | (0.40%) |
Tax-return provision adjustments % | 0.50% | 0.80% | 0.00% |
Other-net % | (4.30%) | 1.10% | (1.90%) |
Computed income tax at statutory tax rate % | 37.50% | 37.50% | 39.00% |
Total income tax expense (benefit) % | 12.10% | 30.10% | (5.70%) |
INCOME TAXES- Significant compo
INCOME TAXES- Significant components of deferred tax assets and liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Deferred Tax Assets [Abstract] | ||
Net operating loss carryforward | $ 220,496 | $ 259,717 |
Allowance for loan and lease losses | 151,586 | 58,793 |
Alternative Minimum Tax credits available for carryforwards | 27,396 | 13,813 |
Unrealized loss on OREO valuation | 13,426 | 13,963 |
Settlement payment - closing agreement | 7,031 | 7,031 |
Legal and other reserves | 4,120 | 2,791 |
Reserve for insurance premium cancellations | 941 | 613 |
Other | 8,647 | 9,722 |
Total gross deferred tax asset | 445,599 | 366,443 |
Deferred Tax Liabilities [Abstract] | ||
Differences between the assigned values and tax bases of assets and liabilities recognized in purchase business combinations | 0 | 3,823 |
Servicing assets | 9,571 | 8,906 |
Unrealized gain on available-for-sale securities, net | 4,730 | 1,808 |
Other | 53 | 511 |
Deferred tax liability | 14,354 | 15,048 |
Valuation allowance | (101,984) | (86,553) |
Net deferred tax asset | $ 329,261 | $ 264,842 |
OTHER COMPREHENSIVE LOSS - Chan
OTHER COMPREHENSIVE LOSS - Change in Accumulated Other Comprehensive Loss by Component (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning balance | $ 6,764 | ||
Ending balance | 55,455 | $ 6,764 | |
Pension And Postretirement Benefit Plans [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning balance | 0 | 0 | $ 0 |
Other comprehensive (loss) income | (270) | 0 | 0 |
Ending balance | (270) | 0 | 0 |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | Debt Securities [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning balance | 6,764 | (40,415) | (20,609) |
Other comprehensive (loss) income | 48,961 | 47,179 | (19,806) |
Ending balance | 55,725 | 6,764 | (40,415) |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | Equity Securities [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning balance | 0 | 0 | (6) |
Other comprehensive (loss) income | 0 | 0 | 0 |
Amounts reclassified from accumulated comprehensive loss per ASU 2016-01 | 0 | 0 | 6 |
Ending balance | $ 0 | $ 0 | $ 0 |
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 | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent | $ (11,557) | $ (497) | $ 84 |
Reclassification from AOCI, Current Period, Tax | 0 | 0 | 0 |
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent | (11,557) | (497) | 84 |
Realized gain (loss) on sales of debt securities | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent | (13,198) | 0 | 34 |
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 | 1,641 | 0 | 0 |
Other Than Temporary Impairment [Member] | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent | $ 0 | $ (497) | $ 50 |
LEASES - Supplemental Balance S
LEASES - Supplemental Balance Sheet Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Leases [Abstract] | ||
Operating lease right-of-use right | $ 103,186 | $ 61,327 |
Operating Lease Liability | $ 106,502 | $ 64,259 |
Operating lease weighted-average remaining lease term (in years) | 8 years 6 months | 10 years 9 months 18 days |
Operating lease weighted-average discount rate | 2.25% | 0.0329% |
LEASES - Supplemental Cash Flow
LEASES - Supplemental Cash Flow Information Related to Leases (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Leases [Abstract] | |||
Operating cash flow from operating leases | $ 13,464 | $ 10,219 | $ 0 |
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | $ 1,328 | $ 10,762 | $ 0 |
LEASES - Maturities Under Lease
LEASES - Maturities Under Lease Liability (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Leases [Abstract] | ||
2021 | $ 19,062 | |
2022 | 17,945 | |
2023 | 16,018 | |
2024 | 14,507 | |
2025 | 13,363 | |
2026 and after | 37,783 | |
Total lease payments | 118,678 | |
Less: imputed interest | (12,176) | |
Total present value of lease liability | $ 106,502 | $ 64,259 |
LEASES - Additional Information
LEASES - Additional Information (Detail) - USD ($) | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Sep. 01, 2020 | Feb. 14, 2020 | |
Lessee, Lease, Description [Line Items] | ||||
Operating lease cost | $ 13,800,000 | $ 10,700,000 | ||
Finance lease | 0 | $ 0 | ||
Operating Lease, Right-of-Use Asset | 103,186,000 | 61,327,000 | ||
Operating Lease Liability | $ 106,502,000 | $ 64,259,000 | ||
Santander [Member] | ||||
Lessee, Lease, Description [Line Items] | ||||
Operating Lease, Right-of-Use Asset | $ 52,100,000 | |||
Operating Lease Liability | $ 52,100,000 | |||
Minimum [Member] | ||||
Lessee, Lease, Description [Line Items] | ||||
Lease terms | 2 years | |||
Maximum [Member] | ||||
Lessee, Lease, Description [Line Items] | ||||
Lease terms | 30 years | |||
Lessee, Operating Lease, Renewal Term | 7 years |
FAIR VALUE - Assets and Liabili
FAIR VALUE - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Assets Fair Value Disclosure [Abstract] | ||
Available For Sale Securities | $ 4,647,019 | $ 2,123,525 |
Fair Value, Measurements, Recurring [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Equity Securities, FV-NI | 1,474 | 1,428 |
Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Derivative Assets | 1,622 | 0 |
Derivative Liabilities [Abstract] | ||
Derivative Liabilities | 1,639 | 0 |
Fair Value, Measurements, Recurring [Member] | Other Available For Sale Securities [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Available For Sale Securities | 650 | 500 |
Fair Value, Measurements, Recurring [Member] | U S Treasury Securities [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Available For Sale Securities | 7,507 | 7,479 |
Fair Value, Measurements, Recurring [Member] | Government Agencies Debt Securities [Member] | Noncallable [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Available For Sale Securities | 173,371 | 146,777 |
Fair Value, Measurements, Recurring [Member] | Government Agencies Debt Securities [Member] | Call Option [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Available For Sale Securities | 4,454,164 | 1,950,331 |
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Available For Sale Securities | 2,899 | 7,322 |
Fair Value, Measurements, Recurring [Member] | Private label [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Available For Sale Securities | 8,428 | 11,116 |
Fair Value, Measurements, Recurring [Member] | Interest Rate Cap [Member] | Purchase [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Derivative Assets | 1 | 11 |
Fair Value, Measurements, Recurring [Member] | Interest Rate Cap [Member] | Written [Member] | ||
Derivative Liabilities [Abstract] | ||
Derivative Liabilities | 1 | 11 |
Fair Value, Measurements, Recurring [Member] | Forward Contracts [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Derivative Assets | 102 | 0 |
Derivative Liabilities [Abstract] | ||
Derivative Liabilities | 280 | 138 |
Fair Value, Measurements, Recurring [Member] | Interest Rate Lock Commitments [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Derivative Assets | 737 | 341 |
Fair Value, Measurements, Recurring [Member] | Forward loan sales commitments [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Derivative Assets | 20 | 20 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Equity Securities, FV-NI | 1,474 | 1,428 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Interest Rate Swap [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Derivative Assets | 0 | 0 |
Derivative Liabilities [Abstract] | ||
Derivative Liabilities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Other Available For Sale Securities [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Available For Sale Securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | U S Treasury Securities [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Available For Sale Securities | 7,507 | 7,479 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Government Agencies Debt Securities [Member] | Noncallable [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Available For Sale Securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Government Agencies Debt Securities [Member] | Call Option [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Available For Sale Securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Available For Sale Securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Private label [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Available For Sale Securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Interest Rate Cap [Member] | Purchase [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Derivative Assets | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Interest Rate Cap [Member] | Written [Member] | ||
Derivative Liabilities [Abstract] | ||
Derivative Liabilities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Forward Contracts [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Derivative Assets | 0 | 0 |
Derivative Liabilities [Abstract] | ||
Derivative Liabilities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Interest Rate Lock Commitments [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Derivative Assets | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Forward loan sales commitments [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Derivative Assets | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Equity Securities, FV-NI | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Interest Rate Swap [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Derivative Assets | 1,622 | 0 |
Derivative Liabilities [Abstract] | ||
Derivative Liabilities | 1,639 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Other Available For Sale Securities [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Available For Sale Securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | U S Treasury Securities [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Available For Sale Securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Government Agencies Debt Securities [Member] | Noncallable [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Available For Sale Securities | 173,371 | 146,777 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Government Agencies Debt Securities [Member] | Call Option [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Available For Sale Securities | 4,454,164 | 1,950,331 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Available For Sale Securities | 0 | 4,348 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Private label [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Available For Sale Securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Interest Rate Cap [Member] | Purchase [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Derivative Assets | 1 | 11 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Interest Rate Cap [Member] | Written [Member] | ||
Derivative Liabilities [Abstract] | ||
Derivative Liabilities | 1 | 11 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Forward Contracts [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Derivative Assets | 102 | 0 |
Derivative Liabilities [Abstract] | ||
Derivative Liabilities | 280 | 138 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Interest Rate Lock Commitments [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Derivative Assets | 737 | 341 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Forward loan sales commitments [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Derivative Assets | 20 | 20 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Equity Securities, FV-NI | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Interest Rate Swap [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Derivative Assets | 0 | 0 |
Derivative Liabilities [Abstract] | ||
Derivative Liabilities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Other Available For Sale Securities [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Available For Sale Securities | 650 | 500 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | U S Treasury Securities [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Available For Sale Securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Government Agencies Debt Securities [Member] | Noncallable [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Available For Sale Securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Government Agencies Debt Securities [Member] | Call Option [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Available For Sale Securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Available For Sale Securities | 2,899 | 2,974 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Private label [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Available For Sale Securities | 8,428 | 11,116 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Interest Rate Cap [Member] | Purchase [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Derivative Assets | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Interest Rate Cap [Member] | Written [Member] | ||
Derivative Liabilities [Abstract] | ||
Derivative Liabilities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Forward Contracts [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Derivative Assets | 0 | 0 |
Derivative Liabilities [Abstract] | ||
Derivative Liabilities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Interest Rate Lock Commitments [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Derivative Assets | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Forward loan sales commitments [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Derivative Assets | $ 0 | $ 0 |
FAIR VALUE - Fair Value of Asse
FAIR VALUE - Fair Value of Assets and Liabilities Measured on Recurring Basis (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Fair Value Inputs Level 3 [Member] | |||
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | |||
Beginning balance | $ 14,590 | $ 17,238 | $ 19,855 |
Total gains or (losses) (realized/unrealized): | |||
Included in earnings | (1,641) | (497) | (50) |
Included in other comprehensive income | 2,403 | 714 | 222 |
Purchases | 0 | 0 | 500 |
Principal Repayments And Amortization | (3,525) | (2,865) | (3,289) |
Ending balance | 11,977 | 14,590 | 17,238 |
Available-for-sale Securities [Member] | |||
Total gains or (losses) (realized/unrealized): | |||
Included in earnings | 1,641 | 497 | 50 |
Available-for-sale Securities [Member] | Fair Value Inputs Level 3 [Member] | |||
Total gains or (losses) (realized/unrealized): | |||
BSPR securities acquired | $ 150 | $ 0 | $ 0 |
FAIR VALUE - Assets and Liabi_2
FAIR VALUE - Assets and Liabilities Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3) (Detail) $ in Thousands | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) |
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale | $ 4,647,019 | $ 2,123,525 |
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 | 8,428 | 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 | $ 2,899 | $ 2,974 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Minimum [Member] | Private label [Member] | Measurement Input, Discount Rate [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.122 | 0.137 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Minimum [Member] | Private label [Member] | Measurement Input, Constant Prepayment Rate [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.012 | 0.068 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Minimum [Member] | Private label [Member] | Measurement Input, Loss Severity [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.026 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Minimum [Member] | Puerto Rico government obligations [Member] | Measurement Input, Discount Rate [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.079 | 0.069 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Minimum [Member] | Puerto Rico government obligations [Member] | Measurement Input, Constant 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] | Measurement Input, Loss Severity [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.124 | |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Maximum [Member] | Private label [Member] | Measurement Input, Discount Rate [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.122 | 0.137 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Maximum [Member] | Private label [Member] | Measurement Input, Constant Prepayment Rate [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.188 | 0.103 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Maximum [Member] | Private label [Member] | Measurement Input, Loss Severity [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.223 | 0.074 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Maximum [Member] | Puerto Rico government obligations [Member] | Measurement Input, Discount Rate [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.079 | 0.069 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Maximum [Member] | Puerto Rico government obligations [Member] | Measurement Input, Constant 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] | Measurement Input, Loss Severity [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.124 | |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Weighted Average [Member] | Private label [Member] | Measurement Input, Discount Rate [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.122 | 0.137 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Weighted Average [Member] | Private label [Member] | Measurement Input, Constant Prepayment Rate [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.121 | 0.079 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Weighted Average [Member] | Private label [Member] | Measurement Input, Loss Severity [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.102 | 0.028 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Weighted Average [Member] | Puerto Rico government obligations [Member] | Measurement Input, Discount Rate [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.079 | 0.069 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Weighted Average [Member] | Puerto Rico government obligations [Member] | Measurement Input, Constant 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] | Measurement Input, Loss Severity [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.124 |
FAIR VALUE - Change in unrealiz
FAIR VALUE - Change in unrealized losses included in earnings (Detail) - Available-for-sale Securities [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Net impairment losses on available-for-sale investment securities credit component | $ (1,641) | $ (497) | $ (50) |
Realized gain (loss) on sales of debt securities | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Net impairment losses on available-for-sale investment securities credit component | 0 | (497) | (50) |
Provision For Credit Losses [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Net impairment losses on available-for-sale investment securities credit component | $ (1,641) | $ 0 | $ 0 |
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 | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Portion At Fair Value Fair Value Disclosure [Member] | Loans Held For Sale [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | $ (10,102) | ||
Fair Value Inputs Level 1 [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Loans receivable | $ 0 | $ 0 | 0 |
Other Real Estate Owned | 0 | 0 | 0 |
Mortgage servicing rights | 0 | ||
Fair Value Inputs Level 1 [Member] | Loans Held For Sale [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Loans held for sale | 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 |
Other Real Estate Owned | 0 | 0 | 0 |
Mortgage servicing rights | 0 | ||
Fair Value Inputs Level 2 [Member] | Loans Held For Sale [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Loans held for sale | 0 | ||
Fair Value Inputs Level 3 [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Loans receivable | 246,803 | 217,252 | 365,726 |
Other Real Estate Owned | 83,060 | 101,626 | 131,402 |
Mortgage servicing rights | 0 | ||
Loans held for sale | 0 | ||
Fair Value Inputs Level 3 [Member] | OREO [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Assets Fair Value Adjustment | (1,970) | (6,572) | (11,499) |
Fair Value Inputs Level 3 [Member] | Mortgage Servicing Rights [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Assets Fair Value Adjustment | 0 | ||
Fair Value Inputs Level 3 [Member] | Loans Held For Sale [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Assets Fair Value Adjustment | 0 | ||
Loans held for sale | 16,111 | ||
Fair Value Inputs Level 3 [Member] | Loans Receivable [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Assets Fair Value Adjustment | $ (5,675) | $ (18,013) | $ (29,799) |
FAIR VALUE - Fair Value (Detail
FAIR VALUE - Fair Value (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Assets: | ||||
Investment securities available for sale | $ 4,647,019 | $ 2,123,525 | ||
Less: allowance for credit losses on held to maturity securities | (8,845) | 0 | ||
Held To Maturity Securities Net Of Allowance For Credit Losses | 180,643 | 138,675 | ||
Less: allowance for loan and lease losses | (385,887) | (155,139) | $ (196,362) | $ (231,843) |
Loans, net of allowance for credit losses | 11,391,402 | 8,847,066 | ||
Financial Instruments Financial Liabilities Balance Sheet Groupings [Abstract] | ||||
Other borrowings | 183,762 | 184,150 | ||
Carrying Reported Amount Fair Value Disclosure [Member] | ||||
Assets: | ||||
Cash and due from banks and money market investments | 1,493,833 | 644,099 | ||
Investment securities available for sale | 4,647,019 | 2,123,525 | ||
Held To Maturity Securities Amortized | 189,488 | 138,675 | ||
Less: allowance for credit losses on held to maturity securities | (8,845) | |||
Held To Maturity Securities Net Of Allowance For Credit Losses | 180,643 | |||
Equity Securities | 37,588 | 38,249 | ||
Loans held for sale | 50,289 | 39,477 | ||
Total gross loans held for investment portfolio | 11,777,289 | 9,002,205 | ||
Less: allowance for loan and lease losses | (385,887) | |||
Loans, net of allowance for credit losses | 11,391,402 | 8,847,066 | ||
Derivative Assets | 2,482 | 372 | ||
Financial Instruments Financial Liabilities Balance Sheet Groupings [Abstract] | ||||
Deposits | 15,317,383 | 9,348,429 | ||
Securities sold under agreements to repurchase | 300,000 | 100,000 | ||
Advances from FHLB | 440,000 | 570,000 | ||
Other borrowings | 183,762 | 184,150 | ||
Derivative Liabilities | 1,920 | 149 | ||
Estimate Of Fair Value Fair Value Disclosure [Member] | ||||
Assets: | ||||
Cash and due from banks and money market investments | 1,493,833 | 644,099 | ||
Investment securities available for sale | 4,647,019 | 2,123,525 | ||
Held To Maturity Securities Amortized | 110,374 | |||
Held To Maturity Securities Net Of Allowance For Credit Losses | 173,806 | |||
Equity Securities | 37,588 | 38,249 | ||
Loans held for sale | 52,322 | 40,234 | ||
Loans, net of allowance for credit losses | 11,564,635 | 8,715,144 | ||
Derivative Assets | 2,482 | 372 | ||
Financial Instruments Financial Liabilities Balance Sheet Groupings [Abstract] | ||||
Deposits | 15,363,236 | 9,372,591 | ||
Securities sold under agreements to repurchase | 329,493 | 120,020 | ||
Advances from FHLB | 446,703 | 578,498 | ||
Other borrowings | 151,645 | 180,577 | ||
Derivative Liabilities | 1,920 | 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 | 1,493,833 | 644,099 | ||
Investment securities available for sale | 7,507 | 7,479 | ||
Held To Maturity Securities Amortized | 0 | |||
Held To Maturity Securities Net Of Allowance For Credit Losses | 0 | |||
Equity Securities | 1,474 | 1,428 | ||
Loans held for sale | 0 | 0 | ||
Loans, net of allowance for credit losses | 0 | 0 | ||
Derivative Assets | 0 | 0 | ||
Financial Instruments Financial Liabilities Balance Sheet Groupings [Abstract] | ||||
Deposits | 0 | 0 | ||
Securities sold under agreements to repurchase | 0 | 0 | ||
Advances from FHLB | 0 | 0 | ||
Other borrowings | 0 | 0 | ||
Derivative Liabilities | 0 | 0 | ||
Estimate Of Fair Value Fair Value Disclosure [Member] | Fair Value Inputs Level 2 [Member] | ||||
Assets: | ||||
Cash and due from banks and money market investments | 0 | 0 | ||
Investment securities available for sale | 4,627,535 | 2,101,456 | ||
Held To Maturity Securities Amortized | 0 | |||
Held To Maturity Securities Net Of Allowance For Credit Losses | 0 | |||
Equity Securities | 36,114 | 36,821 | ||
Loans held for sale | 52,322 | 40,234 | ||
Loans, net of allowance for credit losses | 0 | 0 | ||
Derivative Assets | 2,482 | 372 | ||
Financial Instruments Financial Liabilities Balance Sheet Groupings [Abstract] | ||||
Deposits | 15,363,236 | 9,372,591 | ||
Securities sold under agreements to repurchase | 329,493 | 120,020 | ||
Advances from FHLB | 446,703 | 578,498 | ||
Other borrowings | 0 | 0 | ||
Derivative Liabilities | 1,920 | 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 | 11,977 | 14,590 | ||
Held To Maturity Securities Amortized | 110,374 | |||
Held To Maturity Securities Net Of Allowance For Credit Losses | 173,806 | |||
Equity Securities | 0 | 0 | ||
Loans held for sale | 0 | 0 | ||
Loans, net of allowance for credit losses | 11,564,635 | 8,715,144 | ||
Derivative Assets | 0 | 0 | ||
Financial Instruments Financial Liabilities Balance Sheet Groupings [Abstract] | ||||
Deposits | 0 | 0 | ||
Securities sold under agreements to repurchase | 0 | 0 | ||
Advances from FHLB | 0 | 0 | ||
Other borrowings | 151,645 | 180,577 | ||
Derivative Liabilities | $ 0 | $ 0 |
REVENUE FROM CONTRACT WITH CUST
REVENUE FROM CONTRACT WITH CUSTOMERS (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disaggregation Of Revenue [Line Items] | |||
Net interest income | $ 600,322 | $ 567,081 | $ 525,383 |
Noninterest Income | 111,226 | 90,572 | 82,310 |
Total Revenues | 711,548 | 657,653 | 607,693 |
Service charges and fees on deposit accounts [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 24,612 | 23,916 | 21,668 |
Insurance commissions [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 9,364 | 10,186 | 8,431 |
Total Revenues | 3,300 | 3,000 | 2,400 |
Merchant-related income [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 5,844 | 5,635 | 5,243 |
Credit and debit card fees [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 19,765 | 20,905 | 21,442 |
Other service charges and fees [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 8,994 | 8,789 | 7,870 |
Not inscope of Topic 606 [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 42,647 | 21,141 | 17,656 |
Mortgage Banking Segment [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net interest income | 76,025 | 68,803 | 79,389 |
Noninterest Income | 22,069 | 16,825 | 17,073 |
Total Revenues | 98,094 | 85,628 | 96,462 |
Mortgage Banking Segment [Member] | Service charges and fees on deposit accounts [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 0 | 0 | 0 |
Mortgage Banking Segment [Member] | Insurance commissions [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 0 | 0 | 0 |
Mortgage Banking Segment [Member] | Merchant-related income [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 0 | 0 | 0 |
Mortgage Banking Segment [Member] | Credit and debit card fees [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 0 | 0 | 0 |
Mortgage Banking Segment [Member] | Other service charges and fees [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 342 | 216 | 252 |
Mortgage Banking Segment [Member] | Not inscope of Topic 606 [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 21,727 | 16,609 | 16,821 |
Consumer Retail Banking Segment [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net interest income | 220,678 | 244,535 | 217,933 |
Noninterest Income | 50,962 | 51,729 | 47,706 |
Total Revenues | 271,640 | 296,264 | 265,639 |
Consumer Retail Banking Segment [Member] | Service charges and fees on deposit accounts [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 13,286 | 14,534 | 13,332 |
Consumer Retail Banking Segment [Member] | Insurance commissions [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 8,754 | 9,621 | 7,889 |
Consumer Retail Banking Segment [Member] | Merchant-related income [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 4,516 | 4,120 | 3,561 |
Consumer Retail Banking Segment [Member] | Credit and debit card fees [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 18,218 | 19,014 | 17,538 |
Consumer Retail Banking Segment [Member] | Other service charges and fees [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 2,900 | 3,012 | 4,391 |
Consumer Retail Banking Segment [Member] | Not inscope of Topic 606 [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 3,288 | 1,428 | 995 |
Commercial And Corporate Segment [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net interest income | 135,591 | 91,266 | 78,675 |
Noninterest Income | 12,606 | 11,714 | 5,158 |
Total Revenues | 148,197 | 102,980 | 83,833 |
Commercial And Corporate Segment [Member] | Service charges and fees on deposit accounts [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 8,026 | 5,811 | 4,965 |
Commercial And Corporate Segment [Member] | Insurance commissions [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 0 | 0 | 0 |
Commercial And Corporate Segment [Member] | Merchant-related income [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 478 | 466 | 748 |
Commercial And Corporate Segment [Member] | Credit and debit card fees [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 62 | 104 | 1,225 |
Commercial And Corporate Segment [Member] | Other service charges and fees [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 2,260 | 2,690 | 1,280 |
Commercial And Corporate Segment [Member] | Not inscope of Topic 606 [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 1,780 | 2,643 | (3,060) |
Treasury And Investments Segment [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net interest income | 87,879 | 73,626 | 61,628 |
Noninterest Income | 13,708 | (225) | 2,505 |
Total Revenues | 101,587 | 73,401 | 64,133 |
Treasury And Investments Segment [Member] | Service charges and fees on deposit accounts [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 0 | 0 | 0 |
Treasury And Investments Segment [Member] | Insurance commissions [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 0 | 0 | 0 |
Treasury And Investments Segment [Member] | Merchant-related income [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 0 | 0 | 0 |
Treasury And Investments Segment [Member] | Credit and debit card fees [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 0 | 0 | 0 |
Treasury And Investments Segment [Member] | Other service charges and fees [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 184 | 0 | 71 |
Treasury And Investments Segment [Member] | Not inscope of Topic 606 [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 13,524 | (225) | 2,434 |
United States Operations Segment [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net interest income | 54,025 | 62,539 | 59,056 |
Noninterest Income | 4,630 | 2,807 | 3,020 |
Total Revenues | 58,655 | 65,346 | 62,076 |
United States Operations Segment [Member] | Service charges and fees on deposit accounts [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 553 | 631 | 559 |
United States Operations Segment [Member] | Insurance commissions [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 52 | 67 | 87 |
United States Operations Segment [Member] | Merchant-related income [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 41 | 0 | 0 |
United States Operations Segment [Member] | Credit and debit card fees [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 16 | 43 | 618 |
United States Operations Segment [Member] | Other service charges and fees [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 1,800 | 1,558 | 1,351 |
United States Operations Segment [Member] | Not inscope of Topic 606 [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 2,168 | 508 | 405 |
Virgin Islands Operations Segment [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net interest income | 26,124 | 26,312 | 28,702 |
Noninterest Income | 7,251 | 7,722 | 6,848 |
Total Revenues | 33,375 | 34,034 | 35,550 |
Virgin Islands Operations Segment [Member] | Service charges and fees on deposit accounts [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 2,747 | 2,940 | 2,812 |
Virgin Islands Operations Segment [Member] | Insurance commissions [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 558 | 498 | 455 |
Virgin Islands Operations Segment [Member] | Merchant-related income [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 809 | 1,049 | 934 |
Virgin Islands Operations Segment [Member] | Credit and debit card fees [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 1,469 | 1,744 | 2,061 |
Virgin Islands Operations Segment [Member] | Other service charges and fees [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | 1,508 | 1,313 | 525 |
Virgin Islands Operations Segment [Member] | Not inscope of Topic 606 [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Noninterest Income | $ 160 | $ 178 | $ 61 |
REVENUE FROM CONTRACTS WITH C_3
REVENUE FROM CONTRACTS WITH CUSTOMERS - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Revenue from External Customer [Line Items] | ||||
Contract With Customer Liability | $ 2,151 | $ 2,476 | $ 2,071 | $ 2,396 |
Revenues | 711,548 | 657,653 | 607,693 | |
Decrease in Contract with Customer, Liability | 300 | |||
Additions To Contract Liability | $ 0 | 730 | 0 | |
Required Visa Debit Portfolio Ratio | 50.00% | |||
Other non-interest income | $ 41,834 | 39,909 | 32,742 | |
Insurance commissions [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Revenues | 3,300 | $ 3,000 | $ 2,400 | |
Other non-interest income | $ 5,000 | |||
Revenue Sharing [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Term of contract liability | 10 years |
REVENUE FROM CONTRACT WITH CU_2
REVENUE FROM CONTRACT WITH CUSTOMERS - Activity of Contract Liability (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Contract with Customer, Liability [Abstract] | |||
Beginning balance | $ 2,476 | $ 2,071 | $ 2,396 |
Additions | 0 | 730 | 0 |
Amortization | (325) | (325) | (325) |
Ending balance | $ 2,151 | $ 2,476 | $ 2,071 |
SUPPLEMENTAL CASH FLOW INFORM_3
SUPPLEMENTAL CASH FLOW INFORMATION - Supplemental Cash Flow Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Cash paid for: | |||
Interest on borrowings | $ 94,872 | $ 107,010 | $ 98,194 |
Income tax | 16,713 | 13,495 | 7,175 |
Operating cash flow from operating leases | 13,464 | 10,219 | 0 |
Non-cash investing and financing activities: | |||
Additions to OREO | 7,249 | 40,398 | 48,767 |
Additions to auto and other repossed properties | 36,203 | 47,643 | 52,023 |
Capitalization of servicing assets | 4,864 | 4,039 | 3,864 |
Loan securitizations | 221,491 | 235,258 | 233,175 |
Loans held for investment transferred to held for sale | 10,817 | 24,470 | 90,319 |
Loans held for sale transferred to held for investment | 0 | 0 | 2,179 |
Payable On Unsettled Securities Purchases | 24,033 | 0 | 0 |
ROU asset obtained in exchange for operating lease liabilities | 1,328 | 10,762 | 0 |
Adoption of lease accounting standard: | |||
ROU assets operating leases | 103,186 | 61,327 | |
Operating Lease Liability | 106,502 | 64,259 | |
Acquisition (see Note 2): | |||
Consideration | 1,280,424 | 0 | 0 |
Fair value of assets acquired | 5,561,564 | 0 | 0 |
Liabilities assumed | 4,291,674 | 0 | 0 |
Accounting Standards Update 2016-02 [Member] | |||
Adoption of lease accounting standard: | |||
ROU assets operating leases | 0 | 57,178 | 0 |
Operating Lease Liability | $ 0 | $ 59,818 | $ 0 |
REGULATORY MATTERS, COMMITMEN_3
REGULATORY MATTERS, COMMITMENTS AND CONTINGENCIES - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Jan. 01, 2020 | Dec. 31, 2019 |
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | |||
Percentage Of Increase In ACL Adjusted In Capital Measures | 25.00% | ||
Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | |||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | |||
FHA/VA mortgage loan production sold into GNMA mortgage-backed securities | $ 221,500 | $ 235,300 | |
ASU 2016-13 | Cumulative Effect, Period of Adoption, Adjustment [Member] | Retained Earnings [Member] | |||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | |||
Cumulative Effect Of New Accounting Principle In Period Of Adoption 1 | $ (62,322) | ||
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 Captial (to Risk-Weighted Assets) Required For Captial Adequacy Ratio | 4.50% | ||
Common equity tier 1 capital to risk weight assets ratio plus common equity tier1 capital conservation buffer | 7.00% | ||
Tier 1 Capital (to Risk-Weighted Assets) Required For Capital Adequacy Ratio | 0.060 | ||
Total Tier 1 Capital To Risk Weight Assets Ratio Plus Common Equity Tier 1 Capital Conservation Buffer | 8.50% | ||
Total Capital (to Risk-Weighted Assets) Required For Capital Adequacy Ratio | 0.080 | ||
Leverage Ratio Required For Capital Adequancy Ratio | 0.04 |
REGULATORY MATTERS, COMMITMEN_4
REGULATORY MATTERS, COMMITMENTS AND CONTINGENCIES - Regulatory capital positions (Detail) $ in Thousands | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) |
First BanCorp [Member] | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Total Capital (to Risk-Weighted Assets) Actual | $ 2,416,682 | $ 2,286,337 |
Total Capital (to Risk-Weighted Assets) Actual Ratio | 0.2037 | 0.2522 |
Total Capital (to Risk-Weighted Assets) Required For Capital Adequacy | $ 948,890 | $ 725,236 |
Total Capital (to Risk-Weighted Assets) Required For Capital Adequacy Ratio | 0.080 | 0.080 |
Common Equity Tier 1 Capital (to Risk-Weighted Assets) Actual | $ 2,053,045 | $ 1,957,887 |
Common Equity Tier 1 Capital (to Risk-Weighted Assets) Actual Ratio | 17.31% | 21.60% |
Common Equity Tier 1 Captial (to Risk-Weighted Assets) Required For Captial Adequacy | $ 533,751 | $ 407,946 |
Common Equity Tier 1 Captial (to Risk-Weighted Assets) Required For Captial Adequacy Ratio | 4.50% | 4.50% |
Tier 1 Capital (to Risk-Weighted Assets) Actual | $ 2,089,149 | $ 1,993,991 |
Tier 1 Captial (to Risk-Weighted Assets) Actual Ratio | 0.1761 | 0.2200 |
Tier 1 Capital (to Risk-Weighted Assets) Required For Capital Adequacy | $ 711,667 | $ 543,927 |
Tier 1 Capital (to Risk-Weighted Assets) Required For Capital Adequacy Ratio | 0.060 | 0.060 |
Leverage Ratio Actual Amount | $ 2,089,149 | $ 1,993,991 |
Leverage Ratio Actual Ratio | 0.1126 | 0.1615 |
Leverage Ratio Required For Captial Adequacy | $ 742,352 | $ 493,786 |
Leverage Ratio Required For Capital Adequancy Ratio | 0.040 | 0.040 |
FirstBank [Member] | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Total Capital (to Risk-Weighted Assets) Actual | $ 2,360,493 | $ 2,242,262 |
Total Capital (to Risk-Weighted Assets) Actual Ratio | 0.1991 | 0.2474 |
Total Capital (to Risk-Weighted Assets) Required For Capital Adequacy | $ 948,624 | $ 725,047 |
Total Capital (to Risk-Weighted Assets) Required For Capital Adequacy Ratio | 0.080 | 0.080 |
Total Capital (to Risk-Weighted Assets) Required To Be Well Capitalized | $ 1,185,780 | $ 906,309 |
Total Capital (to Risk-Weighted Assets) Required To Be Well Capitalized Ratio | 0.100 | 0.100 |
Common Equity Tier 1 Capital (to Risk-Weighted Assets) Actual | $ 1,903,251 | $ 1,820,571 |
Common Equity Tier 1 Capital (to Risk-Weighted Assets) Actual Ratio | 16.05% | 20.09% |
Common Equity Tier 1 Captial (to Risk-Weighted Assets) Required For Captial Adequacy | $ 533,601 | $ 407,839 |
Common Equity Tier 1 Captial (to Risk-Weighted Assets) Required For Captial Adequacy Ratio | 4.50% | 4.50% |
Common Equity Tier 1 Captial (to Risk-Weighted Assets) Required To Be Well Capitalized | $ 770,757 | $ 589,101 |
Common Equity Tier 1 Captial (to Risk-Weighted Assets) Required To Be Well Capitalized Ratio | 6.50% | 6.50% |
Tier 1 Capital (to Risk-Weighted Assets) Actual | $ 2,211,251 | $ 2,128,571 |
Tier 1 Captial (to Risk-Weighted Assets) Actual Ratio | 0.1865 | 0.2349 |
Tier 1 Capital (to Risk-Weighted Assets) Required For Capital Adequacy | $ 711,468 | $ 543,785 |
Tier 1 Capital (to Risk-Weighted Assets) Required For Capital Adequacy Ratio | 0.060 | 0.060 |
Tier 1 Capital (to Risk-Weighted Assets) Required To Be Well Capitalized | $ 948,624 | $ 725,047 |
Tier 1 Capital (to Risk-Weighted Assets) Required To Be Well Capitalized Ratio | 0.080 | 0.080 |
Leverage Ratio Actual Amount | $ 2,211,251 | $ 2,128,571 |
Leverage Ratio Actual Ratio | 0.1192 | 0.1726 |
Leverage Ratio Required For Captial Adequacy | $ 741,841 | $ 493,242 |
Leverage Ratio Required For Capital Adequancy Ratio | 0.040 | 0.040 |
Leverage Ratio Required To Be Well Capitalized | $ 927,301 | $ 616,552 |
Leverage Ratio Required To Be Well Capitalized Ratio | 0.050 | 0.050 |
REGULATORY MATTERS - Summary of
REGULATORY MATTERS - Summary of Commitments (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Commercial Letters Of Credit [Member] | ||
Other Commitments [Line Items] | ||
Commitmets to extend credit | $ 135,987 | $ 82,281 |
Standby letters of credit [Member] [Member] | ||
Other Commitments [Line Items] | ||
Commitmets to extend credit | 4,964 | 4,452 |
Commercial lines of credit [Member] | ||
Other Commitments [Line Items] | ||
Commitmets to extend credit | 759,947 | 533,230 |
Unused personal lines of credit [Member] | ||
Other Commitments [Line Items] | ||
Commitmets to extend credit | 1,180,860 | 722,761 |
Construction undisbursed funds [Member] | ||
Other Commitments [Line Items] | ||
Commitmets to extend credit | $ 119,900 | $ 185,569 |
DERIVATIVE INSTRUMENTS AND HE_3
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Narratives (Detail) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Credit risk of related to derivative instruments with positive fair values | $ 2.5 | $ 0.4 |
DERIVATIVE INSTRUMENTS AND HE_4
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Notional Amounts of All Derivative Instruments (Detail) - Not Designated as Hedging Instrument, Economic Hedge [Member] - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Economic undesignated hedges: | ||
Derivative Notional Amount | $ 126,793 | $ 94,894 |
Sale of TBA GNMA MBS pools | ||
Economic undesignated hedges: | ||
Derivative Notional Amount | 42,000 | 35,000 |
Forward loan sales commitments [Member] | ||
Economic undesignated hedges: | ||
Derivative Notional Amount | 19,998 | 6,418 |
Interest Rate Lock Commitments [Member] | ||
Economic undesignated hedges: | ||
Derivative Notional Amount | 19,931 | 11,456 |
Interest Rate Cap [Member] | Written [Member] | ||
Economic undesignated hedges: | ||
Derivative Notional Amount | 14,500 | 21,010 |
Interest Rate Cap [Member] | Purchase [Member] | ||
Economic undesignated hedges: | ||
Derivative Notional Amount | 14,500 | 21,010 |
Interest Rate Swap [Member] | ||
Economic undesignated hedges: | ||
Derivative Notional Amount | $ 15,864 | $ 0 |
DERIVATIVE INSTRUMENTS AND HE_5
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Summary of Fair Value of Derivative Instruments and Location in Statement of Financial Condition (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Derivatives Fair Value [Line Items] | ||
Other Assets | $ 272,737 | $ 177,842 |
Accrued Liabilities and Other Liabilities | 276,747 | 180,614 |
Not Designated as Hedging Instrument, Economic Hedge [Member] | ||
Derivatives Fair Value [Line Items] | ||
Derivative Assets | 2,482 | 372 |
Derivative Liabilities | 1,920 | 149 |
Not Designated as Hedging Instrument, Economic Hedge [Member] | Sale of TBA GNMA MBS pools | ||
Derivatives Fair Value [Line Items] | ||
Other Assets | 102 | 0 |
Accrued Liabilities and Other Liabilities | 280 | 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 | 737 | 341 |
Accrued Liabilities and Other Liabilities | 0 | 0 |
Not Designated as Hedging Instrument, Economic Hedge [Member] | Interest Rate Cap [Member] | Written [Member] | ||
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 [Member] | ||
Derivatives Fair Value [Line Items] | ||
Other Assets | 1 | 11 |
Accrued Liabilities and Other Liabilities | 0 | 0 |
Not Designated as Hedging Instrument, Economic Hedge [Member] | Interest Rate Swap [Member] | ||
Derivatives Fair Value [Line Items] | ||
Derivative Assets | 1,622 | 0 |
Derivative Liabilities | $ 1,639 | $ 0 |
DERIVATIVE INSTRUMENTS AND HE_6
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 | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Economic undesignated hedges: | |||
Total gain (loss) on derivatives | $ 512 | $ 471 | $ 46 |
Sale of TBA GNMA MBS pools | Mortgage Banking Activities | |||
Economic undesignated hedges: | |||
Total gain (loss) on derivatives | (54) | 245 | (371) |
Forward loan sales commitments [Member] | Mortgage Banking Activities | |||
Economic undesignated hedges: | |||
Total gain (loss) on derivatives | (37) | 8 | 12 |
Interest Rate Lock Commitments [Member] | Mortgage Banking Activities | |||
Economic undesignated hedges: | |||
Total gain (loss) on derivatives | 576 | 224 | 383 |
Interest Rate Cap [Member] | Mortgage Banking Activities | Interest Income Member | |||
Economic undesignated hedges: | |||
Total gain (loss) on derivatives | 0 | (6) | 22 |
Interest Rate Swap [Member] | Interest Income Member | |||
Economic undesignated hedges: | |||
Total gain (loss) on derivatives | $ 27 | $ 0 | $ 0 |
OFFSETTING OF ASSETS AND LIAB_3
OFFSETTING OF ASSETS AND LIABILITIES - Offsetting of financial assets and liabilities (Detail) - USD ($) $ in Thousands | Feb. 12, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Offsetting [Abstract] | |||
Gross amount recognized of derivative asset | $ 89 | $ 11 | |
Gross amount of derivatives assets offset | 0 | 0 | |
Net asset amount of assets presented in the Statement of Financial Condition | 89 | 11 | |
Obligation to return Financial instrument, derivatives assets | 0 | 0 | |
Obligation to return Cash Collateral, derivative assets | (89) | (11) | |
Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral | 0 | 0 | |
Gross amount recognized of derivative liabilities | 1,919 | ||
Gross amount of derivative liabilities offset | 0 | ||
Net derivative liability amount offset presented | 1,919 | ||
Right to claim Financial instrument, derivatives liabilities | (1,919) | ||
Right to claim Cash Collateral, derivatives liabilities | 0 | ||
Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral | 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 | |
Securities Sold Under Agreements To Repurchase Amount Offset Against Collateral | 0 | 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 | |
Securities Purchased Under Agreements To Resell Amount Offset Against Collateral | 0 | 0 | |
Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Gross | 89 | 200,011 | |
Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Liability | 0 | (200,000) | |
Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Liability Not Offset | 89 | 11 | |
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 | (89) | (11) | |
Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Amount Offset Against Collateral | $ 0 | $ 0 | |
Gross amount recognized of liabilities | $ 301,919 | ||
Gross amount of liabilties offset | 0 | ||
Net liabilities amount offset presented | 301,919 | ||
Right to claim Financial instrument, liabilities | (301,919) | ||
Right to claim Cash Collateral, liabilties | 0 | ||
Net liability amount not offset | $ 0 |
SEGMENT INFORMATION - Additiona
SEGMENT INFORMATION - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2020numberofreportableunits | |
Segment Reporting [Abstract] | |
Number of reportable segments | 6 |
SEGMENT INFORMATION - Informati
SEGMENT INFORMATION - Information about Reportable Segments (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Segment Reporting Information [Line Items] | |||
Interest income | $ 692,982 | $ 675,897 | $ 624,967 |
Interest expense | (92,660) | (108,816) | (99,584) |
Net interest income (loss) | 600,322 | 567,081 | 525,383 |
Provision (release) | 168,717 | 40,225 | 59,253 |
Non-interest income | 111,226 | 90,572 | 82,310 |
Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Interest income | 692,982 | 675,897 | 624,967 |
Net (charge) credit for transfer of funds | 0 | 0 | 0 |
Interest expense | (92,660) | (108,816) | (99,584) |
Net interest income (loss) | 600,322 | 567,081 | 525,383 |
Provision (release) | 170,985 | 39,813 | 58,989 |
Non-interest income | 111,226 | 90,572 | 82,310 |
Direct non-interest expenses | (258,864) | (252,603) | (250,519) |
Segment income | 281,699 | 365,237 | 298,185 |
Average earnings assets | 14,201,505 | 11,497,408 | 11,265,470 |
Mortgage Banking Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income (loss) | 76,025 | 68,803 | 79,389 |
Non-interest income | 22,069 | 16,825 | 17,073 |
Mortgage Banking Segment [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Interest income | 128,043 | 120,981 | 127,042 |
Net (charge) credit for transfer of funds | (52,018) | (52,178) | (47,653) |
Interest expense | 0 | 0 | 0 |
Net interest income (loss) | 76,025 | 68,803 | 79,389 |
Provision (release) | 22,518 | 13,499 | 13,083 |
Non-interest income | 22,069 | 16,825 | 17,073 |
Direct non-interest expenses | (33,054) | (34,825) | (38,213) |
Segment income | 42,522 | 37,304 | 45,166 |
Average earnings assets | 2,241,753 | 2,161,772 | 2,258,974 |
Consumer Retail Banking Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income (loss) | 220,678 | 244,535 | 217,933 |
Non-interest income | 50,962 | 51,729 | 47,706 |
Consumer Retail Banking Segment [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Interest income | 240,725 | 216,066 | 181,166 |
Net (charge) credit for transfer of funds | 18,771 | 66,675 | 65,092 |
Interest expense | (38,818) | (38,206) | (28,325) |
Net interest income (loss) | 220,678 | 244,535 | 217,933 |
Provision (release) | 54,094 | 41,043 | 23,516 |
Non-interest income | 50,962 | 51,729 | 47,706 |
Direct non-interest expenses | (131,133) | (116,854) | (112,176) |
Segment income | 86,413 | 138,367 | 129,947 |
Average earnings assets | 2,202,595 | 1,960,352 | 1,636,002 |
Commercial And Corporate Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income (loss) | 135,591 | 91,266 | 78,675 |
Non-interest income | 12,606 | 11,714 | 5,158 |
Commercial And Corporate Segment [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Interest income | 155,254 | 148,224 | 138,706 |
Net (charge) credit for transfer of funds | (19,663) | (56,958) | (60,031) |
Interest expense | 0 | 0 | 0 |
Net interest income (loss) | 135,591 | 91,266 | 78,675 |
Provision (release) | 74,607 | (17,977) | 4,540 |
Non-interest income | 12,606 | 11,714 | 5,158 |
Direct non-interest expenses | (28,631) | (35,130) | (32,635) |
Segment income | 44,959 | 85,827 | 46,658 |
Average earnings assets | 3,039,786 | 2,489,933 | 2,530,635 |
Treasury And Investments Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income (loss) | 87,879 | 73,626 | 61,628 |
Non-interest income | 13,708 | (225) | 2,505 |
Treasury And Investments Segment [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Interest income | 55,003 | 63,175 | 61,913 |
Net (charge) credit for transfer of funds | 59,074 | 47,477 | 44,540 |
Interest expense | (26,198) | (37,026) | (44,825) |
Net interest income (loss) | 87,879 | 73,626 | 61,628 |
Provision (release) | 2,774 | 0 | 0 |
Non-interest income | 13,708 | (225) | 2,505 |
Direct non-interest expenses | (3,449) | (2,729) | (2,966) |
Segment income | 95,364 | 70,672 | 61,167 |
Average earnings assets | 4,232,144 | 2,487,084 | 2,552,130 |
United States Operations Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income (loss) | 54,025 | 62,539 | 59,056 |
Non-interest income | 4,630 | 2,807 | 3,020 |
United States Operations Segment [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Interest income | 84,169 | 97,406 | 83,971 |
Net (charge) credit for transfer of funds | (6,164) | (5,016) | (1,948) |
Interest expense | (23,980) | (29,851) | (22,967) |
Net interest income (loss) | 54,025 | 62,539 | 59,056 |
Provision (release) | 12,592 | 7,296 | 11,882 |
Non-interest income | 4,630 | 2,807 | 3,020 |
Direct non-interest expenses | (33,782) | (34,070) | (33,566) |
Segment income | 12,281 | 23,980 | 16,628 |
Average earnings assets | 2,026,619 | 1,931,015 | 1,750,155 |
Virgin Islands Operations Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income (loss) | 26,124 | 26,312 | 28,702 |
Non-interest income | 7,251 | 7,722 | 6,848 |
Virgin Islands Operations Segment [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Interest income | 29,788 | 30,045 | 32,169 |
Net (charge) credit for transfer of funds | 0 | 0 | 0 |
Interest expense | (3,664) | (3,733) | (3,467) |
Net interest income (loss) | 26,124 | 26,312 | 28,702 |
Provision (release) | 4,400 | (4,048) | 5,968 |
Non-interest income | 7,251 | 7,722 | 6,848 |
Direct non-interest expenses | (28,815) | (28,995) | (30,963) |
Segment income | 160 | 9,087 | (1,381) |
Average earnings assets | $ 458,608 | $ 467,252 | $ 537,574 |
SEGMENT INFORMATION - Reconcili
SEGMENT INFORMATION - Reconciliation of Reportable Segment Financial Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Net Income (Loss): | |||
Total before tax | $ 116,323 | $ 239,372 | $ 190,638 |
Income tax (benefit) expense | (14,050) | (71,995) | 10,970 |
Net income | 102,273 | 167,377 | 201,608 |
Segment Reconciling Items [Member] | |||
Net Income (Loss): | |||
Segment income | 281,699 | 365,237 | 298,185 |
Other operating expenses | (165,376) | (125,865) | (107,547) |
Total before tax | 116,323 | 239,372 | 190,638 |
Income tax (benefit) expense | 14,050 | 71,995 | (10,970) |
Net income | 102,273 | 167,377 | 201,608 |
Average assets: | |||
Total average earning assets for segments | 14,201,505 | 11,497,408 | 11,265,470 |
Average non-earning assets | 1,031,141 | 954,726 | 940,731 |
Total consolidated average assets | $ 15,232,646 | $ 12,452,134 | $ 12,206,201 |
SEGMENT INFORMATION - revenues
SEGMENT INFORMATION - revenues and selected balance sheet data by geography based on the location (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Segment Reporting Information [Line Items] | |||
Total revenues | $ 804,208 | $ 766,469 | $ 707,277 |
Total assets | 18,793,071 | 12,611,266 | |
Deposits | 15,317,383 | 9,348,429 | |
Brokered certificates of deposit | 216,172 | 435,089 | |
Puerto Rico [Member] | |||
Segment Reporting Information [Line Items] | |||
Total revenues | 678,370 | 628,489 | 581,269 |
Total assets | 16,091,112 | 10,059,890 | 9,797,267 |
Total gross loans held for investment portfolio | 9,367,032 | 6,695,953 | 6,586,033 |
Deposits | 12,338,934 | 6,422,864 | 6,208,531 |
Brokered certificates of deposit | 109,000 | 243,400 | 441,100 |
United States [Member] | |||
Segment Reporting Information [Line Items] | |||
Total revenues | 88,799 | 100,213 | 86,991 |
Total assets | 2,117,966 | 2,048,260 | 1,940,633 |
Total gross loans held for investment portfolio | 1,993,797 | 1,879,346 | 1,834,088 |
Deposits | 1,622,481 | 1,661,657 | 1,519,362 |
Brokered certificates of deposit | 107,100 | 191,700 | 114,500 |
Virgin Islands [Member] | |||
Segment Reporting Information [Line Items] | |||
Total revenues | 37,039 | 37,767 | 39,017 |
Total assets | 583,993 | 503,116 | 505,661 |
Total gross loans held for investment portfolio | 466,749 | 466,383 | 481,188 |
Deposits | $ 1,355,968 | $ 1,263,908 | $ 1,266,821 |
FIRST BANCORP. (Holding Compa_3
FIRST BANCORP. (Holding Company Only) Financial Information - Statements of Financial Condition (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
ASSETS | |||
Cash and due from banks | $ 1,433,261 | $ 546,391 | $ 578,613 |
Money market investments | 60,572 | 97,708 | 7,590 |
Other assets | 272,737 | 177,842 | |
Total assets | 18,793,071 | 12,611,266 | |
Liabilities: | |||
Other borrowings | 183,762 | 184,150 | |
Accounts payable and other liabilities | 276,747 | 180,614 | |
Liabilities | 16,517,892 | 10,383,193 | |
Stockholders Equity | 2,275,179 | 2,228,073 | 2,044,704 |
Total liabilities and stockholders' equity | 18,793,071 | 12,611,266 | |
Holding Company [Member] | |||
ASSETS | |||
Cash and due from banks | 10,909 | 16,895 | |
Money market investments | 6,211 | 6,211 | $ 6,111 |
Other investment securities | 285 | 285 | |
Other assets | 2,023 | 509 | |
Total assets | 2,463,216 | 2,416,601 | |
Liabilities: | |||
Other borrowings | 183,762 | 184,150 | |
Accounts payable and other liabilities | 4,275 | 4,378 | |
Liabilities | 188,037 | 188,528 | |
Stockholders Equity | 2,275,179 | 2,228,073 | |
Total liabilities and stockholders' equity | 2,463,216 | 2,416,601 | |
Holding Company [Member] | Firstbank Puerto Rico [Member] | |||
ASSETS | |||
Equity Method Investments | 2,396,963 | 2,362,182 | |
Holding Company [Member] | FirstBank Insurance Agency | |||
ASSETS | |||
Equity Method Investments | 41,313 | 24,995 | |
Holding Company [Member] | FBP Statutory Trust I [Member] | |||
ASSETS | |||
Equity Method Investments | 1,951 | 1,963 | |
Holding Company [Member] | FBP Statutory Trust II [Member] | |||
ASSETS | |||
Equity Method Investments | $ 3,561 | $ 3,561 |
FIRST BANCORP. (Holding Compa_4
FIRST BANCORP. (Holding Company Only) Financial Information - Statements of Income (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income: | |||
Interest income on money market investments | $ 58,547 | $ 59,546 | $ 60,224 |
Interest income on loans | 631,047 | 602,998 | 553,647 |
Total interest and dividends on investments | 61,935 | 72,899 | 71,320 |
Expense: | |||
Gain on early extinguishment of debt | 94 | 0 | 2,316 |
Total income tax provision | 14,050 | 71,995 | (10,970) |
Net income | 102,273 | 167,377 | 201,608 |
OCI, net of tax | 48,691 | 47,179 | (19,806) |
Comprehensive income | 150,964 | 214,556 | 181,802 |
Holding Company [Member] | |||
Income: | |||
Interest income on money market investments | 71 | 233 | 20 |
Interest income on loans | 0 | 0 | 105 |
Other Interest And Dividend Income | 439 | 283 | 275 |
Total interest and dividends on investments | 53,217 | 42,759 | 38,184 |
Expense: | |||
Other borrowings | 6,355 | 9,424 | 8,983 |
Other operating expenses | 2,097 | 2,131 | 2,489 |
Total operating expenses | 8,452 | 11,555 | 11,472 |
Gain on early extinguishment of debt | 94 | 0 | 2,316 |
Income before income taxes and equity in undistributed earnings of subsidiaries | 44,859 | 31,204 | 29,028 |
Total income tax provision | 2,429 | 2,752 | 0 |
Equity in undistributed earnings of subsidiaries | 59,843 | 138,925 | 172,580 |
Net income | 102,273 | 167,377 | 201,608 |
OCI, net of tax | 48,691 | 47,179 | (19,806) |
Comprehensive income | 150,964 | 214,556 | 181,802 |
Investment In Banking Subsidiary [Member] | Holding Company [Member] | |||
Income: | |||
Dividend income | $ 52,707 | $ 42,243 | $ 37,784 |
FIRST BANCORP. (Holding Compa_5
FIRST BANCORP. (Holding Company Only) Financial Information - Statements of Cash Flows (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Cash flows from operating activities: | |||
Net income | $ 102,273 | $ 167,377 | $ 201,608 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Stock-based compensation | 5,117 | 3,949 | 5,825 |
Gain on early extinguishment of debt | (94) | 0 | (2,316) |
Net (increase) decrease in other assets | (5,018) | 32,521 | 8,906 |
Net (decrease) increase in other liabilities | 9,116 | (4,590) | (1,521) |
Net cash provided by operating activities | 297,738 | 294,284 | 288,323 |
Cash flows from investing activities: | |||
Net cash provided by investing activities | (1,238,865) | (342,968) | (223,258) |
Cash flows from financing activities: | |||
Repurchase of common stock | (206) | (1,959) | (2,827) |
Dividends paid on common stock | (43,416) | (30,356) | (6,517) |
Dividends paid on preferred stock | (2,676) | (2,676) | (2,676) |
Net cash used in financing activities | 1,790,861 | 106,580 | (195,257) |
Cash and cash equivalents at beginning of year | 644,099 | 586,203 | 716,395 |
Cash and cash equivalents at end of year | 1,493,833 | 644,099 | 586,203 |
Cash and cash equivalents include: | |||
Money market instruments | 60,572 | 97,708 | 7,590 |
Holding Company [Member] | |||
Cash flows from operating activities: | |||
Net income | 102,273 | 167,377 | 201,608 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Stock-based compensation | 231 | 314 | 2,202 |
Equity in undistributed earnings of subsidiaries | (59,843) | (138,925) | (172,580) |
Gain on early extinguishment of debt | (94) | 0 | (2,316) |
Accretion of discount on loans | 0 | 0 | (4) |
Net (increase) decrease in other assets | (1,514) | 11,710 | (8,417) |
Net (decrease) increase in other liabilities | (459) | 526 | 2,890 |
Net cash provided by operating activities | 40,594 | 41,002 | 23,383 |
Cash flows from investing activities: | |||
Principal collected on loans | 0 | 0 | 191 |
Net cash provided by investing activities | 0 | 0 | 191 |
Cash flows from financing activities: | |||
Repurchase of common stock | (206) | (1,959) | (2,827) |
Repayments of junior subordinated debentures | (282) | 0 | (21,434) |
Dividends paid on common stock | (43,416) | (30,356) | (6,517) |
Dividends paid on preferred stock | (2,676) | (2,676) | (2,676) |
Net cash used in financing activities | (46,580) | (34,991) | (33,454) |
Net increase (decrease) in cash and cash equivalents | (5,986) | 6,011 | (9,880) |
Cash and cash equivalents at beginning of year | 23,106 | 17,095 | 26,975 |
Cash and cash equivalents at end of year | 17,120 | 23,106 | 17,095 |
Cash and cash equivalents include: | |||
Cash and due from banks | 10,909 | 16,895 | 10,984 |
Money market instruments | $ 6,211 | $ 6,211 | $ 6,111 |
Uncategorized Items - fbp123120
Label | Element | Value |
Pension Plan [Member] | ||
Defined Benefit Plan Benefit Obligation | us-gaap_DefinedBenefitPlanBenefitObligation | $ 107,571,000 |
Defined Benefit Plan, Fair Value of Plan Assets | us-gaap_DefinedBenefitPlanFairValueOfPlanAssets | 104,522,000 |
Other Postretirement Benefit Plans Defined Benefit [Member] | ||
Defined Benefit Plan Benefit Obligation | us-gaap_DefinedBenefitPlanBenefitObligation | 235,000 |
Defined Benefit Plan, Fair Value of Plan Assets | us-gaap_DefinedBenefitPlanFairValueOfPlanAssets | 0 |
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Retained Earnings [Member] | ||
Stockholders Equity After New Accounting Principle In Period Of Adoption | fbp_StockholdersEquityAfterNewAccountingPrincipleInPeriodOfAdoption | $ 1,159,495,000 |