Pay vs Performance Disclosure, Table

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


					Value of Initial Fixed $100 Investment Based On:
Year	Summary Compensation Table Total for PEO ($)1	Compensation Actually Paid to PEO ($)1	Average Summary Compensation Table Total for Non-PEO NEOs2	Average Compensation Actually Paid to Non-PEO NEOs2	Total Shareholder Return	Peer Group Total Shareholder Return	Net Income ($000)	Company Selected Measure: Earnings per Share ($)
2024	6,305,842	8,606,942	1,158,850	1,383,528	202.10	143.68	198,170	4.23
2023	3,489,475	5,376,341	1,144,052	1,674,912	174.51	107.32	181,172	3.85
2022	3,061,507	3,454,638	984,232	1,324,122	124.45	98.38	166,239	3.46
2021	3,020,837	4,895,781	1,030,974	1,653,106	116.81	118.61	146,151	2.85
2020	2,782,700	2,757,366	896,370	918,979	80.21	87.24	74,327	1.32

Company Selected Measure Name

earnings per share

Named Executive Officers, Footnote

Our CEO, Mr. José R. Fernández, was the PEO in each year. In 2020, 2021, 2022, 2023, and 2024, $4,265,707, $4,113,982, $4,475,595,$4,505,720, 9,804,398, respectively, were deducted from the Summary Compensation Table Totals, which represent the grant date fair value of the equity awards he received in the corresponding fiscal year, and the fair value of unvested equity awards and dividends accrued on unvested performance shares as of the end of the immediately preceding fiscal year; and $4,240,373, $5,988,926, $4,868,726, $6,392,586 and 12,105,498, respectively, were added, which represent the fair value as of the vesting date of awards that vest during the corresponding fiscal year and the fair value of all unvested equity awards and dividends accrued on unvested performance shares as of the end of the corresponding fiscal year.Mr. Ganesh Kumar, Ms. Maritza Arizmendi, and Mr. César Ortiz were Non-PEO NEOs in each year. The fifth Non-PEO NEO was Ms. Ada García in 2024, the fourth Non-PEO NEO was Ms. Mari E. Rodríguez in 2024 and 2023, Mr. Patrick Haggarty in 2022, and Mr. José Cabrera in 2021 and 2020. In 2020, 2021, 2022, 2023 and 2024, $841,687, $946,806, $1,128,567, $1,197,314 and $1,575,316, respectively, were the averages deducted from the Summary Compensation Table Totals, which represent the grant date fair value of the equity awards received in the corresponding fiscal year and the fair value of unvested equity awards and dividends accrued on unvested performance shares as of the end of the immediately preceding fiscal year; and $864,296, $1,507,653, $1,226,607, $2,246,340 and $1,799,994, respectively, were the averages added, which represent the fair value as of the vesting date of awards that vest during the corresponding fiscal year and the fair value of all unvested equity awards and dividends accrued on unvested performance shares as of the end of the corresponding fiscal year .

PEO Total Compensation Amount

$ 6,305,842

$ 3,489,475

$ 3,061,507

$ 3,020,837

$ 2,782,700

PEO Actually Paid Compensation Amount

$ 8,606,942

5,376,341

3,454,638

4,895,781

2,757,366

Adjustment To PEO Compensation, Footnote

Non-PEO NEO Average Total Compensation Amount

$ 1,158,850

1,144,052

984,232

1,030,974

896,370

Non-PEO NEO Average Compensation Actually Paid Amount

$ 1,383,528

1,674,912

1,324,122

1,653,106

918,979

Adjustment to Non-PEO NEO Compensation Footnote

Mr. Ganesh Kumar, Ms. Maritza Arizmendi, and Mr. César Ortiz were Non-PEO NEOs in each year. The fifth Non-PEO NEO was Ms. Ada García in 2024, the fourth Non-PEO NEO was Ms. Mari E. Rodríguez in 2024 and 2023, Mr. Patrick Haggarty in 2022, and Mr. José Cabrera in 2021 and 2020. In 2020, 2021, 2022, 2023 and 2024, $841,687, $946,806, $1,128,567, $1,197,314 and $1,575,316, respectively, were the averages deducted from the Summary Compensation Table Totals, which represent the grant date fair value of the equity awards received in the corresponding fiscal year and the fair value of unvested equity awards and dividends accrued on unvested performance shares as of the end of the immediately preceding fiscal year; and $864,296, $1,507,653, $1,226,607, $2,246,340 and $1,799,994, respectively, were the averages added, which represent the fair value as of the vesting date of awards that vest during the corresponding fiscal year and the fair value of all unvested equity awards and dividends accrued on unvested performance shares as of the end of the corresponding fiscal year .

Compensation Actually Paid vs. Total Shareholder Return

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

Compensation Actually Paid vs. Net Income

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

Compensation Actually Paid vs. Company Selected Measure

Total Shareholder Return Vs Peer Group

Tabular List, Table

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

Total Shareholder Return Amount

$ 202.10

174.51

124.45

116.81

80.21

Peer Group Total Shareholder Return Amount

143.68

107.32

98.38

118.61

87.24

Net Income (Loss)

$ 198,170,000

$ 181,172,000

$ 166,239,000

$ 146,151,000

$ 74,327,000

Company Selected Measure Amount | $ / shares

4.23

3.85

3.46

2.85

1.32

PEO Name

José R. Fernández

Measure:: 1

earnings per share

Measure:: 2

tangible book value

Measure:: 3

average return on average tangible common equity

Measure:: 4

market share operating income

Measure:: 5

PEO | Deductions for Various Reasons [Member]

efficiency ratio

PEO | Additions for Various Reasons [Member]

$ (9,804,398)

$ (4,505,720)

$ (4,475,595)

$ (4,113,982)

$ (4,265,707)

Non-PEO NEO | Deductions for Various Reasons [Member]

12,105,498

6,392,586

4,868,726

5,988,926

4,240,373

Non-PEO NEO | Additions for Various Reasons [Member]

(1,575,316)

(1,197,314)

(1,128,567)

(946,806)

(841,687)