FIRST BANCORP /PR/, 10-Q filed on 5/10/2023
Quarterly Report
v3.23.1
Document and Entity Information - shares
 3 Months Ended
Mar. 31, 2023
May 01, 2023
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2023  
Document Transition Report false  
Entity File Number 001-14793  
Entity Registrant Name FIRST BANCORP  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2023  
Document Fiscal Period Focus Q1  
Entity Common Stock Shares Outstanding   179,788,698
Entity Emerging Growth Company false  
Entity Small Business false  
Trading Symbol FBP  
Entity Current Reporting Status Yes  
Entity Shell Company false  
Entity Incorporation State Country Code PR  
Entity Tax Identification Number 66-0561882  
Entity Address Address Line 1 1519 Ponce de León Avenue  
Entity Address Address Line 2 Stop 23  
Entity Address City Or Town San Juan  
Entity Address Country PR  
Entity Address Postal Zip Code 00908  
City Area Code 787  
Local Phone Number 729-8200  
Security 12b Title Common Stock ($0.10 par value per share)  
Security Exchange Name NYSE  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Amendment Flag false  
Entity Central Index Key 0001057706  
v3.23.1
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
ASSETS    
Cash and due from banks $ 822,542 $ 478,480
Money market investments:    
Time deposits with other financial institutions 300 300
Other short-term investments 759 1,725
Total money market investments 1,059 2,025
Available-for-sale debt securities, at fair value:    
Securities pledged with creditors' rights to repledge 181,009 81,103
Other available-for-sale debt securities 5,408,247 5,518,417
Total available-for-sale securities, at fair value 5,589,256 5,599,520
Held-to-maturity debt securities, at amortized cost, net of ACL of $7,646 as of March 31, 2023 and $8,286 as of December 31, 2022 (fair value as of March 31, 2023 - $419,752; as of December 31, 2022 - $427,115 as of December 31, 2022) 423,749 429,251
Equity securities 66,714 55,289
Total investment securities 6,079,719 6,084,060
Loans, net of ACL of $265,567 as of March 31, 2023 and $260,464 as of December 31, 2022 11,312,418 11,292,361
Mortgage loans held for sale, at lower of cost or market 15,183 12,306
Total loans, net 11,327,601 11,304,667
Accrued interest receivable on loans and investments 63,841 69,730
Premises and equipment, net 137,580 142,935
Other real estate owned ("OREO") 32,862 31,641
Deferred tax asset, net 154,780 155,584
Goodwill 38,611 38,611
Other intangible assets 19,073 21,118
Other assets 299,446 305,633
Total assets 18,977,114 18,634,484
LIABILITIES    
Non-interest-bearing deposits 6,024,304 6,112,884
Interest-bearing deposits 10,027,661 10,030,583
Total deposits 16,051,965 16,143,467
Short-term securities sold under agreements to repurchase 172,982 75,133
Advances from the FHLB:    
Short-term 425,000 475,000
Long-term 500,000 200,000
Total advances from the FHLB 925,000 675,000
Other long-term borrowings 183,762 183,762
Accounts payable and other liabilities 237,812 231,582
Total liabilities 17,571,521 17,308,944
Commitments and contingencies (See Note 22)
STOCKHOLDERS' EQUITY    
Common stock, $0.10 par value, authorized, 2,000,000,000 shares; 223,663,116 shares issued; 179,788,698 shares outstanding as of March 31, 2023 and 182,709,059 as of December 31, 2022 22,366 22,366
Additional paid-in capital 959,912 970,722
Retained earnings, includes legal surplus reserve of $168,484 1,688,176 1,644,209
Treasury stock (at cost) of 43,874,418 shares as of March 31, 2023 and 40,954,057 shares as of December 31, 2022 (547,311) (506,979)
Accumulated other comprehensive loss, net of tax of $8,468 (717,550) (804,778)
Total stockholders' equity 1,405,593 1,325,540
Total liabilities and stockholders' equity $ 18,977,114 $ 18,634,484
v3.23.1
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Condensed Statement Of Financial Condition [Abstract]    
Amortized cost $ 6,300,696 $ 6,398,197
Available-for-sale, allowance for credit losses 449 458
Held to Maturity Fair value 419,752 427,115
Allowance for credit losses, Held-to-Maturity securities 7,646 8,286
Allowance for credit losses on loans and finance leases $ 265,567 $ 260,464
Common stock, par value $ 0.10 $ 0.10
Common stock, shares authorized 2,000,000,000 2,000,000,000
Common Stock, Shares, Issued 223,663,116 223,663,116
Common stock, shares outstanding 179,788,698 182,709,059
Legal Surplus Amount $ 168,484 $ 168,484
Treasury Stock Shares 43,874,418 40,954,057
Income tax expense $ 8,468 $ 8,468
v3.23.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest and dividend income:    
Loans $ 210,636 $ 173,787
Investment securities 27,110 23,247
Money market investments and interest-bearing cash accounts 4,650 820
Total interest and dividend income 242,396 197,854
Interest expense:    
Deposits 29,885 7,652
Advances from the FHLB:    
Short-term advances from the FHLB 4,341 0
Long-term advances from FHLB 2,835 1,063
Other long-term borrowings 3,381 1,333
Total interest expense 41,511 12,230
Net interest income 200,885 185,624
Provision for credit losses - expense (benefit):    
Loans and finance leases 16,256 (16,989)
Provision for credit losses - expense (benefit) 15,502 (13,802)
Net interest income after provision for credit losses 185,383 199,426
Non-interest income:    
Service charges and fees on deposit accounts 9,541 9,363
Mortgage banking activities 2,812 5,206
Insurance commission income 4,847 5,275
Card and processing income 10,918 9,681
Other non-interest income 4,400 3,333
Total non-interest income 32,518 32,858
Non-interest expenses:    
Employees' compensation and benefits 56,422 49,554
Occupancy and equipment 21,186 22,386
Business promotion 3,975 3,463
Professional service fees 11,973 10,594
Taxes, other than income taxes 5,112 5,018
FDIC deposit insurance 2,133 1,673
Net gain on OREO operations (1,996) (720)
Credit and debit card processing expenses 5,318 4,121
Communications 2,216 2,151
Other non-interest expenses 8,929 8,419
Total non-interest expenses 115,268 106,659
Income before income taxes 102,633 125,625
Income tax expense 31,935 43,025
Net income 70,698 82,600
Net income attributable to common stockholders $ 70,698 $ 82,600
Net income per common share:    
Basic $ 0.39 $ 0.42
Diluted $ 0.39 $ 0.41
Short-term Debt [Member]    
Interest expense:    
Securities sold under agreements to repurchase $ 1,069 $ 0
Long-term Debt [Member]    
Interest expense:    
Securities sold under agreements to repurchase 0 2,182
Debt Securities [Member]    
Provision for credit losses - expense (benefit):    
Other credit losses (649) 3,365
Unfunded Loan Commitment [Member]    
Provision for credit losses - expense (benefit):    
Other credit losses $ (105) $ (178)
v3.23.1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Net income $ 70,698 $ 82,600
Available-for-sale debt securities:    
Net unrealized holding gains (losses) on debt securities 87,228 (331,834)
Other comprehensive income (loss) for the period, net of tax 87,228 (331,834)
Total comprehensive income (loss) $ 157,926 $ (249,234)
v3.23.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 70,698 $ 82,600
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,080 5,872
Amortization of intangible assets 2,045 2,286
Provision for credit losses - expense (benefit) 15,502 (13,802)
Deferred income tax expense (benefit) 1,564 31,707
Stock-based compensation 2,075 1,182
Unrealized loss (gain) on derivative instruments 3 (618)
Net gain on disposals or sales, and impairments of premises and equipment and other assets (8) (26)
Net gain on sales of loans and valuation adjustments (766) (2,461)
Net amortization of discounts, premiums, and deferred loan fees and costs 283 (2,933)
Originations and purchases of loans held for sale (38,500) (86,802)
Sales and repayments of loans held for sale 34,836 93,739
Amortization of broker placement fees 44 35
Net amortization of premiums and discounts on investment securities 630 1,690
Decrease in accrued interest receivable 8,566 3,919
Increase (decrease) in accrued interest payable 3,752 (906)
(Increase) decrease in other assets 168 352
Increase (decrease) in other liabilities 9,443 (1,000)
Net cash provided by operating activities 115,415 114,834
Cash flows from investing activities:    
Net disbursements on loans held for investment (71,193) (48,370)
Proceeds from sales of loans held for investment 2,552 1,306
Proceeds from sales of repossessed assets 12,347 9,361
Purchases of available-for-sale securities 0 (497,327)
Proceeds from principal repayments and maturities of available-for-sale debt securities 113,218 208,397
Proceeds from principal repayments and maturities of held-to-maturity debt securities 6,652 400
Additions to premises and equipment (1,689) (6,764)
Proceeds from sales of premises and equipment and other assets 8 26
Net (purchases) redemptions of other investments securities (11,360) (21)
Net cash provided by (used in) investing activities 50,535 (332,992)
Cash flows from financing activities:    
Net decrease in deposits (92,354) (456,211)
Net proceeds from short-term borrowings 47,849 0
Repayments of long-term borrowings 0 (100,000)
Proceeds from long-term borrowings 300,000 0
Repurchase of outstanding common stock (53,217) (52,713)
Dividends paid on common stock (25,132) (19,727)
Net cash provided by (used in) financing activities 177,146 (628,651)
Net increase (decrease) in cash and cash equivalents 343,096 (846,809)
Cash and cash equivalents at beginning of year 480,505 2,543,058
Cash and cash equivalents at end of year 823,601 1,696,249
Cash and cash equivalents include:    
Cash and due from banks 822,542 1,694,066
Money market instruments 1,059 2,183
Cash and Cash Equivalents, at Carrying Value, Total $ 823,601 $ 1,696,249
v3.23.1
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Common Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
Retained Earnings [Member]
Cumulative Effect, Period of Adoption, Adjustment [Member]
Treasury Stock [Member]
Accumulated Other Comprehensive (Loss) Income, net of tax [Member]
Balance at beginning of period at Dec. 31, 2021     $ 972,547 $ 1,427,295   $ (236,442) $ (83,999)
Common stock repurchases (See Note 17)           (52,713)  
Common stock issued stock-based compensation plan     (6,980)     6,980  
Stock-based compensation     1,182        
Restricted stock forfeited     22     (22)  
Net income $ 82,600     82,600      
Dividends on common stock (2023 - $0.14 per share; 2022 - $0.10 per share)       (19,900)      
Other comprehensive (loss) income, net of tax (331,834)           (331,834)
Balance at end of period at Mar. 31, 2022 1,781,102 $ 22,366 966,771 1,489,995   (282,197) (415,833)
Balance at beginning of period at Dec. 31, 2022 1,325,540   970,722 1,644,209   (506,979) (804,778)
Balance at beginning of period (ASU 2022-02) at Dec. 31, 2022         $ (1,357)    
Common stock repurchases (See Note 17)           (53,217)  
Common stock issued stock-based compensation plan     (13,139)     13,139  
Stock-based compensation     2,075        
Restricted stock forfeited     254     (254)  
Net income 70,698     70,698      
Dividends on common stock (2023 - $0.14 per share; 2022 - $0.10 per share)       (25,374)      
Other comprehensive (loss) income, net of tax 87,228           87,228
Balance at end of period at Mar. 31, 2023 $ 1,405,593 $ 22,366 $ 959,912 $ 1,688,176   $ (547,311) $ (717,550)
v3.23.1
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY [Abstract]    
Common Stock Dividends Per Share Declared $ 0.14 $ 0.10
v3.23.1
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
 3 Months Ended
Mar. 31, 2023
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES [Abstract]  
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
NOTE 1 – BASIS
 
OF PRESENTATION AND
 
SIGNIFICANT
 
ACCOUNTING
 
POLICIES
 
The
 
Consolidated Financial
 
Statements (unaudited)
 
for
 
the
 
quarter
 
ended
 
March
 
31,
 
2023
 
(the
 
“unaudited consolidated
 
financial
statements”)
 
of
 
First
 
BanCorp.
 
(the
 
“Corporation”)
 
have
 
been
 
prepared
 
in
 
conformity
 
with
 
the
 
accounting
 
policies
 
stated
 
in
 
the
Corporation’s Audited
 
Consolidated
 
Financial
 
Statements
 
for the fiscal
 
year ended December
 
31, 2022 (the
 
“audited consolidated
 
financial
statements”)
 
included
 
in the 2022
 
Annual Report
 
on Form
 
10-K, as
 
updated
 
by the information
 
contained
 
in this
 
report.
 
Certain information
and note disclosures
 
normally included
 
in the financial
 
statements
 
prepared in accordance
 
with generally
 
accepted accounting
 
principles
 
in
the United States
 
of America
 
(“GAAP”)
 
have been condensed
 
or omitted
 
from these statements
 
pursuant to
 
the rules and
 
regulations
 
of the
SEC and, accordingly, these financial statements
 
should be read in conjunction with the audited consolidated
 
financial statements,
 
which
are included in the 2022 Annual Report on Form 10-K. All adjustments
 
(consisting only of normal
 
recurring adjustments)
 
that are, in the
opinion of management,
 
necessary for
 
a fair presentation
 
of the statement
 
of financial
 
position, results
 
of operations
 
and cash flows for
 
the
interim
 
periods
 
have been
 
reflected.
 
All significant
 
intercompany
 
accounts
 
and transactions
 
have been
 
eliminated
 
in consolidation.
The results of operations
 
for the quarter ended
 
March 31, 2023
 
are not necessarily
 
indicative
 
of the results to be expected
 
for the entire
year.
Adoption
 
of New Accounting
 
Requirements
Accounting Standards Update (“ASU”) 2022-02, “Financial Instruments
 
– Credit
 
Losses (Topic 326):
 
Troubled Debt
 
Restructurings
and Vintage Disclosures”
Effective
 
January
 
1,
 
2023,
 
the
 
Corporation
 
adopted
 
ASU
 
2022-02,
 
which
 
removed
 
the
 
existing
 
measurement
 
and
 
disclosure
requirements
 
for Troubled
 
Debt Restructured
 
(“TDR”) loans,
 
added additional
 
disclosure
 
requirements
 
related to
 
modifications
 
provided
 
to
borrowers experiencing
 
financial difficulty
 
regardless of whether
 
the refinancing
 
is accounted for as a new loan,
 
and amends the guidance
on vintage
 
disclosures
 
to require
 
disclosure
 
of gross
 
charge-offs by
 
year of
 
origination.
 
Prior to
 
adoption,
 
a change
 
in contractual
 
terms of
 
a
loan where a borrower
 
was experiencing
 
financial difficulty
 
and received
 
a concession
 
not available
 
through other
 
sources was required
 
to
be disclosed
 
as a TDR, whereas
 
now a borrower
 
that is experiencing
 
financial
 
difficulty
 
and there
 
has been a direct
 
change to the
 
timing or
amount of contractual
 
cash flows in the form of principal
 
forgiveness, interest
 
rate reduction,
 
an other-than-insignificant
 
payment delay, a
term extension,
 
or any combination
 
of these types of loan modifications
 
in the current period
 
needs to be disclosed. ASU
 
2022-02 did not
amend the
 
definition
 
of financial
 
difficulty.
 
Modifications
 
of receivables are within the scope of ASU 2022-02 if they are accounted for in accordance with Accounting
 
Standards
Codification (“ASC”)
 
310-20.
 
As
 
such,
 
finance
 
leases
 
are
 
not
 
within
 
the
 
scope
 
of
 
ASU
 
2022-02.
 
Such
 
modifications are
 
evaluated
following the requirements in
 
ASC 310-20
 
to determine whether
 
they should
 
be accounted
 
for as
 
a
 
new loan
 
or
 
a
 
continuation of the
existing
 
loan.
 
ASU 2022-02 also eliminated
 
the requirement
 
to use a discounted cash flow method
 
for TDRs for the determination
 
of the ACL, and
allows
 
the
 
option
 
of
 
a
 
non-discounted cash
 
flow
 
portfolio-based approach
 
for
 
modified
 
loans
 
to
 
borrowers
 
experiencing
 
financial
difficulties.
The
 
Corporation
 
elected
 
to
 
apply
 
a
 
non-discounted
 
cash
 
flow,
 
portfolio-based ACL
 
approach
 
for
 
modified
 
loans
 
to
 
borrowers
experiencing
 
financial
 
difficulties
 
for all
 
portfolios,
 
using a modified
 
retrospective
 
transition
 
method.
 
The adoption
 
resulted
 
in a net
 
increase
to
 
the ACL
 
of
 
approximately $
2.1
 
million and
 
a
 
decrease to
 
retained earnings of
 
approximately $
1.3
 
million, after tax,
 
predominantly
driven by residential
 
mortgage
 
loans. The
 
amount of
 
defined modifications
 
given to borrowers
 
experiencing
 
financial
 
difficulty
 
is disclosed
in Note
 
3 – Loans
 
Held for
 
Investment,
 
along with
 
the financial
 
impact of
 
those modifications.
The Corporation
 
was not
 
impacted
 
by the adoption
 
of the following
 
ASUs during
 
the first
 
quarter of
 
2023:
●
ASU 2022-01,
 
“Derivatives
 
and Hedging
 
(Topic 815): Fair
 
Value Hedging – Portfolio
 
Layer Method”
●
ASU 2021-08, “Business
 
Combinations
 
(Topic 805): Accounting for Contract
 
Assets and Contract Liabilities
 
From Contracts
With Customers”
 
Recently Issued Accounting Standards Not Yet
 
Effective or Not Yet
 
Adopted
Standard
Description
Effective Date
Effect on the financial statements
ASU 2023-02, "Investments -
Equity Method and Joint Ventures
(Topic 323): Accounting for
Investments in Tax Credit
Structures Using the Proportional
Amortization Method"
In March 2023, the FASB issued
ASU 2023-02 which, among other
things, allows tax equity
investments, regardless of the tax
credit program from which the
income tax credits are received, to
be accounted for using the
proportional amortization method if
certain conditions are met and
requires specific disclosures of
such investments. The election
needs to be made on a tax-credit-
program-by-tax-credit-program
basis.
January 1, 2024. Early adoption is
permitted in any interim period.
The Corporation does not expect to
be impacted by the amendments of
this ASU since it does not hold tax
equity investments.
ASU 2023-01, "Leases (Topic
842): Common Control
Arrangements"
In March 2023, the FASB issued
ASU 2023-01 which, among other
things, generally requires a lessee
in a common-control lease
arrangement to amortize leasehold
improvements over the useful life
regardless of the lease term, subject
to certain exceptions. In addition, a
lessee that no longer controls the
use of the underlying asset will
account for the transfer of the
underlying asset as an adjustment
to equity.
January 1, 2024. Early adoption is
permitted for both interim and
annual financial statements that
have not yet been made available
for issuance.
The Corporation is evaluating the
impact that this ASU will have on its
financial statements. The
Corporation does not expect to be
materially impacted by the adoption
of this ASU during the first quarter
of 2024.
For
 
other
 
issued
 
accounting
 
standards
 
not
 
yet
 
effective
 
or
 
not
 
yet
 
adopted,
 
see
 
Note
 
1
 
–
 
Nature
 
of
 
Business
 
and
 
Summary
 
of
Significant Accounting Policies, to the audited consolidated financial
 
statements included in the 2022 Annual Report on Form 10-K.
v3.23.1
DEBT SECURITIES
 3 Months Ended
Mar. 31, 2023
DEBT SECURITIES [Abstract]  
DEBT SECURITIES
NOTE 2 – DEBT SECURITIES
Available-for-Sale
 
Debt Securities
The amortized
 
cost, gross
 
unrealized gains
 
and losses,
 
ACL, estimated
 
fair value,
 
and weighted-average
 
yield of
 
available-for-sale
debt securities by contractual maturities as of March 31, 2023 were as follows:
March 31, 2023
Amortized cost
(1)
Gross
ACL
Fair value
Unrealized
Weighted-
Gains
Losses
average yield%
(Dollars in thousands)
U.S. Treasury securities:
 
Due within one year
$
27,744
$
-
$
890
$
-
$
26,854
0.61
 
After 1 to 5 years
120,916
-
7,348
-
113,568
0.69
U.S. government-sponsored entities (“GSEs”) obligations:
 
Due within one year
189,174
-
5,100
-
184,074
0.42
 
After 1 to 5 years
2,349,522
22
190,986
-
2,158,558
0.84
 
After 5 to 10 years
41,916
8
4,998
-
36,926
1.64
 
After 10 years
11,625
27
-
-
11,652
5.15
Puerto Rico government obligations:
 
After 10 years
(2)
3,302
-
733
366
2,203
-
United States and Puerto Rico government obligations
2,744,199
57
210,055
366
2,533,835
0.83
Mortgage-backed securities (“MBS”):
 
Residential MBS:
 
Freddie Mac (“FHLMC”) certificates:
 
After 1 to 5 years
10,023
-
454
-
9,569
1.98
 
After 5 to 10 years
187,007
-
15,912
-
171,095
1.56
 
After 10 years
1,068,680
-
170,021
-
898,659
1.41
 
1,265,710
-
186,387
-
1,079,323
1.44
 
Ginnie Mae (“GNMA”) certificates:
 
 
Due within one year
3
-
-
-
3
2.42
 
After 1 to 5 years
23,293
-
1,253
-
22,040
1.31
 
After 5 to 10 years
33,939
-
2,720
-
31,219
1.69
 
 
After 10 years
225,680
119
24,080
-
201,719
2.58
282,915
119
28,053
-
254,981
2.37
 
Fannie Mae (“FNMA”) certificates:
 
After 1 to 5 years
24,446
-
1,249
-
23,197
1.72
 
 
After 5 to 10 years
353,397
-
28,963
-
324,434
1.74
 
After 10 years
1,133,757
104
168,025
-
965,836
1.37
 
1,511,600
104
198,237
-
1,313,467
1.47
 
Collateralized mortgage obligations issued or
 
guaranteed by the FHLMC, FNMA and
 
GNMA (“CMOs”):
 
After 10 years
296,022
-
52,540
-
243,482
1.49
 
Private label:
 
After 10 years
7,695
-
2,210
83
5,402
7.25
Total Residential MBS
3,363,942
223
467,427
83
2,896,655
1.55
 
Commercial MBS:
 
After 1 to 5 years
27,584
7
4,551
-
23,040
2.27
 
After 5 to 10 years
44,584
-
4,929
-
39,655
1.90
 
After 10 years
120,387
-
24,316
-
96,071
1.23
Total Commercial MBS
192,555
7
33,796
-
158,766
1.53
Total MBS
3,556,497
230
501,223
83
3,055,421
1.54
Total available-for-sale debt securities
$
6,300,696
$
287
$
711,278
$
449
$
5,589,256
1.23
(1)
Excludes accrued interest receivable on available-for-sale debt securities that totaled $
10.7
 
million as of March 31, 2023 reported as part of accrued interest receivable on loans and investment securities in the
consolidated statements of financial condition, and excluded from the estimate of credit losses.
(2)
Consists of a residential pass-through MBS issued by the Puerto Rico Housing Finance Authority (“PRHFA”) that is collateralized by certain second mortgages originated under a program launched by the Puerto Rico
government in 2010 and is in nonaccrual status based on the delinquency status of the underlying second mortgage loans collateral.
The amortized
 
cost, gross
 
unrealized gains
 
and losses,
 
ACL, estimated
 
fair value,
 
and weighted-average
 
yield of
 
available-for-sale
debt securities by contractual maturities as of December 31, 2022
 
were as follows:
December 31, 2022
Amortized cost
 
(1)
Gross
ACL
Fair value
Unrealized
Weighted-
Gains
Losses
average yield%
(Dollars in thousands)
U.S. Treasury securities:
 
Due within one year
$
7,493
$
-
$
309
$
-
$
7,184
0.22
 
After 1 to 5 years
141,366
-
9,675
-
131,691
0.70
U.S. GSEs’ obligations:
 
Due within one year
129,018
-
4,036
-
124,982
0.32
 
After 1 to 5 years
2,395,273
22
227,724
-
2,167,571
0.83
 
After 5 to 10 years
56,251
13
7,670
-
48,594
1.54
 
After 10 years
12,170
36
-
-
12,206
4.62
Puerto Rico government obligations:
 
After 10 years
(2)
3,331
-
755
375
2,201
-
United States and Puerto Rico government obligations
2,744,902
71
250,169
375
2,494,429
0.83
MBS:
 
Residential MBS:
 
FHLMC certificates:
 
After 1 to 5 years
4,235
-
169
-
4,066
2.33
 
After 5 to 10 years
201,072
-
18,709
-
182,363
1.55
 
After 10 years
1,092,289
-
186,558
-
905,731
1.38
1,297,596
-
205,436
-
1,092,160
1.41
 
GNMA certificates:
 
 
Due within one year
5
-
-
-
5
1.73
 
After 1 to 5 years
15,508
-
622
-
14,886
2.00
 
After 5 to 10 years
45,322
1
3,809
-
41,514
1.31
 
 
After 10 years
232,632
51
27,169
-
205,514
2.47
293,467
52
31,600
-
261,919
2.27
 
FNMA certificates:
 
After 1 to 5 years
9,685
-
521
-
9,164
1.76
 
 
After 5 to 10 years
358,346
-
31,620
-
326,726
1.68
 
After 10 years
1,186,635
124
186,757
-
1,000,002
1.38
 
1,554,666
124
218,898
-
1,335,892
1.45
 
CMOs:
 
After 10 years
302,232
-
56,539
-
245,693
1.44
 
Private label:
 
After 10 years
7,903
-
2,026
83
5,794
6.83
Total Residential MBS
3,455,864
176
514,499
83
2,941,458
1.52
 
Commercial MBS:
 
After 1 to 5 years
30,578
-
4,463
-
26,115
2.43
 
 
After 5 to 10 years
44,889
-
5,603
-
39,286
1.89
 
After 10 years
121,464
-
23,732
-
97,732
1.23
Total Commercial MBS
196,931
-
33,798
-
163,133
1.56
Total MBS
3,652,795
176
548,297
83
3,104,591
1.52
Other
Due within one year
500
-
-
-
500
0.84
Total available-for-sale debt securities
$
6,398,197
$
247
$
798,466
458
$
5,599,520
1.22
(1)
Excludes accrued interest receivable on available-for-sale debt securities that totaled $
11.1
 
million as of December 31, 2022 reported as part of accrued interest receivable on loans and investment securities in the
consolidated statements of financial condition, and excluded from the estimate of credit losses.
(2)
Consists of a residential pass-through MBS issued by the PRHFA that is collateralized by certain second mortgages originated under a program launched by the Puerto Rico government in 2010 and is in nonaccrual
status based on the delinquency status of the underlying second mortgage loans collateral.
Maturities
 
of
 
available-for-sale
 
debt
 
securities
 
are
 
based
 
on
 
the
 
period
 
of
 
final
 
contractual
 
maturity.
 
Expected
 
maturities
 
might
differ
 
from
 
contractual
 
maturities
 
because
 
they
 
may
 
be
 
subject
 
to
 
prepayments
 
and/or
 
call
 
options.
 
The
 
weighted-average
 
yield
 
on
available-for-sale
 
debt
 
securities
 
is
 
based
 
on
 
amortized
 
cost
 
and,
 
therefore,
 
does
 
not
 
give
 
effect
 
to
 
changes
 
in
 
fair
 
value.
 
The
 
net
unrealized
 
gain
 
or
 
loss
 
on
 
available-for-sale
 
debt
 
securities
 
is
 
presented
 
as
 
part
 
of
 
other
 
comprehensive
 
loss
The
 
following
 
tables
 
present
 
the
 
fair
 
value
 
and
 
gross
 
unrealized
 
losses
 
of
 
the
 
Corporation’s
 
available-for-sale
 
debt
 
securities,
aggregated by
 
investment category
 
and length of
 
time that individual
 
securities have
 
been in a
 
continuous unrealized
 
loss position, as
of March 31, 2023 and December 31, 2022. The tables also include debt securities for
 
which an ACL was recorded.
As of March 31, 2023
Less than 12 months
12 months or more
Total
Unrealized
Unrealized
Unrealized
Fair Value
 
Losses
Fair Value
 
Losses
Fair Value
 
Losses
(In thousands)
Debt securities:
U.S. Treasury and U.S. GSEs’
 
obligations
$
17,615
$
611
$
2,496,925
$
208,711
$
2,514,540
$
209,322
Puerto Rico government obligations
-
-
2,203
733
(1)
2,203
733
 
MBS:
 
Residential MBS:
 
FHLMC
21,354
710
1,057,950
185,677
1,079,304
186,387
 
GNMA
45,949
868
197,581
27,185
243,530
28,053
 
FNMA
41,186
1,741
1,262,700
196,496
1,303,886
198,237
 
CMOs
10,596
117
232,886
52,423
243,482
52,540
 
Private label
-
-
5,402
2,210
(1)
5,402
2,210
 
Commercial MBS
3,833
220
148,640
33,576
152,473
33,796
$
140,533
$
4,267
$
5,404,287
$
707,011
$
5,544,820
$
711,278
7923
(1)
Unrealized losses do not include the credit loss component recorded
 
as part of the ACL. As of March 31, 2023, the
 
PRHFA bond and private label MBS
 
had an ACL of $
0.4
 
million and
$
0.1
 
million, respectively.
As of December 31, 2022
Less than 12 months
12 months or more
Total
Unrealized
Unrealized
Unrealized
Fair Value
 
Losses
Fair Value
 
Losses
Fair Value
 
Losses
(In thousands)
Debt securities:
U.S. Treasury and U.S. GSEs’
 
obligations
$
298,313
$
18,057
$
2,174,724
$
231,357
$
2,473,037
$
249,414
Puerto Rico government obligations
-
-
2,201
755
(1)
2,201
755
 
MBS:
 
Residential MBS:
 
FHLMC
260,524
45,424
831,637
160,012
1,092,161
205,436
 
GNMA
74,829
3,433
179,854
28,167
254,683
31,600
 
FNMA
405,977
49,479
920,200
169,419
1,326,177
218,898
 
CMOs
45,370
6,735
200,323
49,804
245,693
56,539
 
Private label
-
-
5,794
2,026
(1)
5,794
2,026
 
Commercial MBS
30,179
2,215
132,953
31,583
163,132
33,798
$
1,115,192
$
125,343
$
4,447,686
$
673,123
$
5,562,878
$
798,466
(1)
Unrealized losses do not include the credit loss component recorded
 
as part of the ACL. As of December 31, 2022, the
 
PRHFA bond and private label MBS
 
had an ACL of $
0.4
 
million
and $
0.1
 
million, respectively.
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
substantially
 
all of
 
the total
 
available-for-sale
 
portfolio
 
as of
 
March 31,
 
2023, and
 
the Corporation
 
expects no
 
credit losses
 
on these
securities,
 
given
 
the
 
explicit
 
and
 
implicit
 
guarantees
 
provided
 
by
 
the
 
U.S.
 
federal
 
government.
 
Because
 
the
 
decline
 
in
 
fair
 
value
 
is
attributable to
 
changes in
 
interest rates, and
 
not credit
 
quality,
 
and because
 
the Corporation
 
does not have
 
the intent to
 
sell these
 
U.S.
government
 
and
 
agencies
 
debt
 
securities
 
and
 
it
 
is
 
likely
 
that
 
it
 
will
 
not
 
be
 
required
 
to
 
sell
 
the
 
securities
 
before
 
their
 
anticipated
recovery,
 
the
 
Corporation
 
does
 
not
 
consider
 
impairments
 
on
 
these
 
securities
 
to
 
be
 
credit
 
related
 
as
 
of
 
March
 
31,
 
2023.
 
The
Corporation’s
 
credit loss
 
assessment was
 
concentrated mainly
 
on private
 
label MBS
 
and on
 
Puerto Rico
 
government debt
 
securities,
for which credit losses are evaluated on a quarterly basis.
The
 
Corporation’s
 
available-for-sale
 
MBS
 
portfolio
 
included
 
private
 
label
 
MBS
 
with
 
a
 
fair
 
value
 
of
 
$
5.4
 
million,
 
which
 
had
unrealized losses
 
of approximately
 
$
2.3
 
million as
 
of March
 
31, 2023,
 
of which
 
$
0.1
 
million is
 
due to
 
credit deterioration
 
and is
 
part
of
 
the
 
ACL.
The interest rate on these private-label MBS is variable, tied to 3-month LIBOR, and limited to the weighted-average
coupon on the underlying collateral.
 
Following the
 
provisions of
 
the Adjustable
 
Interest Rate Act
 
(the “LIBOR
 
Act”) and
 
Regulation
ZZ,
 
the
 
LIBOR
 
reference
 
on
 
these
 
contracts
 
will
 
automatically
 
transition
 
by
 
operation
 
of
 
law
 
to
 
3-month
 
CME
 
Term
 
Secured
Overnight Financing
 
Rate (“SOFR”),
 
plus a
 
spread adjustment
 
of 0.26161%
 
on the
 
first reset
 
date after
 
U.S. dollar
 
(“USD”) LIBOR
ceases publication
 
in June
 
2023.
The underlying collateral is fixed-rate, single-family residential mortgage loans in the United States
with original FICO scores over 700 and moderate loan-to-value ratios (under 80%), as well as moderate delinquency levels.
 
As
 
of
March
 
31,
 
2023,
 
the
 
Corporation
 
did
 
not
 
have
 
the
 
intent
 
to
 
sell
 
these
 
securities
 
and
 
determined
 
that
 
it
 
is
 
likely
 
that
 
it
 
will
 
not
 
be
required to sell the securities before
 
anticipated recovery.
 
The Corporation determined the ACL
 
for private label MBS based on
 
a risk-
adjusted
 
discounted
 
cash
 
flow
 
methodology
 
that
 
considers
 
the
 
structure
 
and
 
terms
 
of
 
the
 
instruments.
 
The
 
Corporation
 
utilized
probability of
 
default (“PDs”)
 
and loss
 
given default
 
(“LGDs”) that
 
considered, among
 
other things,
 
historical payment
 
performance,
loan-to-value attributes, and relevant
 
current and forward-looking macroeconomic
 
variables, such as regional unemployment
 
rates and
the housing price
 
index. Under this approach,
 
expected cash flows (interest
 
and principal) were discounted
 
at the Treasury
 
yield curve
as of the reporting date. Significant assumptions in the valuation of
 
the private label MBS were as follows:
As of
As of
March 31, 2023
December 31, 2022
Weighted
 
Range
Weighted
 
Range
Average
Minimum
Maximum
Average
Minimum
Maximum
Discount rate
16.0%
16.0%
16.0%
16.2%
16.2%
16.2%
Prepayment rate
9.2%
1.6%
12.6%
11.8%
1.5%
15.2%
Projected cumulative loss rate
5.2%
0.2%
14.9%
5.6%
0.3%
15.6%
The Corporation
 
evaluates if
 
a credit
 
loss exists,
 
primarily
 
by monitoring
 
adverse variances
 
in the
 
present value
 
of expected
 
cash
flows. As of each of March 31, 2023 and December 31, 2022, the
 
ACL for these private label MBS was $
0.1
 
million.
 
As of
 
March 31,
 
2023, the
 
Corporation’s
 
available-for-sale debt
 
securities portfolio
 
also included
 
a residential
 
pass-through
 
MBS
issued by
 
the PRHFA,
 
collateralized by
 
certain second
 
mortgages, with
 
a fair
 
value of
 
$
2.2
 
million, which
 
had an
 
unrealized loss
 
of
approximately
 
$
1.1
 
million.
 
Approximately
 
$
0.4
 
million
 
of
 
the
 
unrealized
 
losses
 
was
 
due
 
to
 
credit
 
deterioration
 
and
 
is
 
part
 
of
 
the
ACL. The underlying
 
second mortgage loans
 
were originated under
 
a program launched by
 
the Puerto Rico government
 
in 2010. This
residential pass-through
 
MBS was structured
 
as a zero-coupon
 
bond for the
 
first ten years
 
(until July 2019).
 
The underlying source
 
of
repayment on this
 
residential pass-through
 
MBS are second mortgage
 
loans in Puerto Rico.
 
PRHFA, not
 
the Puerto Rico
 
government,
provides
 
a
 
guarantee
 
in
 
the
 
event
 
of
 
default
 
and
 
subsequent
 
foreclosure
 
of
 
the
 
properties
 
underlying
 
the
 
second
 
mortgage
 
loans.
During
 
2021,
 
the Corporation
 
placed
 
this instrument
 
in
 
nonaccrual
 
status based
 
on
 
the delinquency
 
status of
 
the
 
underlying
 
second
mortgage loans collateral.
 
The Corporation determined
 
the ACL on this
 
instrument based on a
 
discounted cash flow methodology
 
that
considered the
 
structure and
 
terms of
 
the debt
 
security.
 
The Corporation
 
utilized PDs and
 
LGDs that
 
considered, among
 
other things,
historical payment
 
performance, loan-to-value
 
attributes,
 
and relevant
 
current and
 
forward-looking macroeconomic
 
variables, such
 
as
regional
 
unemployment
 
rates,
 
the
 
housing
 
price
 
index,
 
and
 
expected
 
recovery
 
from
 
the
 
PRHFA
 
guarantee.
 
Under
 
this
 
approach,
expected
 
cash
 
flows
 
(interest
 
and
 
principal)
 
were
 
discounted
 
at
 
the
 
Treasury
 
yield
 
curve
 
plus
 
a
 
spread
 
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.
 
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
 
March
 
31,
 
2023,
 
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 tables
 
present a roll-forward
 
by major security
 
type for the
 
quarters ended March
 
31, 2023 and
 
2022 of the
 
ACL on
available-for-sale debt securities:
Quarter Ended March 31, 2023
Private label MBS
Puerto Rico
 
Government
Obligations
Total
(In thousands)
Beginning balance
$
83
$
375
$
458
Provision for credit losses - benefit
-
(9)
(9)
 
ACL on available-for-sale debt securities
$
83
$
366
$
449
Quarter Ended March 31, 2022
Private label MBS
Puerto Rico
 
Government
Obligations
Total
(In thousands)
Beginning balance
$
797
$
308
$
1,105
Provision for credit losses - benefit
(388)
-
(388)
Net charge-offs
(6)
-
(6)
 
ACL on available-for-sale debt securities
$
403
$
308
$
711
Held-to-Maturity Debt Securities
The
 
amortized
 
cost,
 
gross
 
unrecognized
 
gains
 
and
 
losses,
 
estimated
 
fair
 
value,
 
ACL,
 
weighted-average
 
yield
 
and
 
contractual
maturities of held-to-maturity debt securities as of March 31, 2023 and
 
December 31, 2022 were as follows
:
March 31, 2023
Amortized cost
(1)
Gross Unrecognized
Fair value
Weighted-
Gains
Losses
ACL
average yield%
(Dollars in thousands)
Puerto Rico municipal bonds:
 
Due within one year
$
1,204
$
-
$
10
$
1,194
$
24
5.70
 
After 1 to 5 years
42,633
679
1,001
42,311
659
6.74
 
After 5 to 10 years
55,940
1,482
603
56,819
2,918
7.10
 
After 10 years
66,023
-
1,804
64,219
4,045
8.12
Total Puerto Rico municipal bonds
165,800
2,161
3,418
164,543
7,646
7.40
MBS:
 
Residential MBS:
FHLMC certificates:
After 5 to 10 years
$
20,129
$
-
$
762
$
19,367
$
-
3.03
After 10 years
19,176
-
596
18,580
-
4.30
39,305
-
1,358
37,947
-
3.65
GNMA certificates:
`
After 10 years
18,502
-
795
17,707
-
3.31
FNMA certificates:
After 10 years
71,258
-
2,190
69,068
-
4.16
CMOs:
After 10 years
32,522
-
1,154
31,368
-
3.49
Total Residential MBS
161,587
-
5,497
156,090
-
3.81
 
Commercial MBS:
After 1 to 5 years
9,576
-
348
9,228
-
3.48
After 10 years
94,432
-
4,541
89,891
-
3.15
Total Commercial MBS
104,008
-
4,889
99,119
-
3.18
Total MBS
265,595
-
10,386
255,209
-
3.56
Total held-to-maturity debt securities
$
431,395
$
2,161
$
13,804
$
419,752
$
7,646
5.04
(1)
Excludes accrued interest receivable on held-to-maturity debt securities that totaled $
3.7
 
million as of March 31, 2023, 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.
December 31, 2022
Amortized cost
(1)
Gross Unrecognized
Fair value
Weighted-
Gains
Losses
ACL
average yield%
(Dollars in thousands)
Puerto Rico municipal bonds:
 
Due within one year
$
1,202
$
-
$
15
$
1,187
$
2
5.20
 
After 1 to 5 years
42,530
886
1,076
42,340
656
6.34
 
After 5 to 10 years
55,956
3,182
360
58,778
3,243
6.29
 
After 10 years
66,022
-
1,318
64,704
4,385
7.10
Total held-to-maturity debt securities
$
165,710
$
4,068
$
2,769
$
167,009
$
8,286
6.62
MBS:
 
Residential MBS:
FHLMC certificates:
After 5 to 10 years
$
21,443
$
-
$
746
$
20,697
$
-
3.03
After 10 years
19,362
-
888
18,474
-
4.21
40,805
-
1,634
39,171
-
3.59
GNMA certificates:
`
After 10 years
19,131
-
943
18,188
-
3.35
FNMA certificates:
After 10 years
72,347
-
3,155
69,192
-
4.14
CMOs:
After 10 years
34,456
-
1,424
33,032
-
3.49
Total Residential MBS
166,739
-
7,156
159,583
-
3.78
 
Commercial MBS:
After 1 to 5 years
9,621
-
396
9,225
-
3.48
After 10 years
95,467
-
4,169
91,298
-
3.15
Total Commercial MBS
105,088
-
4,565
100,523
-
3.18
Total MBS
271,827
-
11,721
260,106
-
3.55
Total held-to-maturity debt securities
$
437,537
$
4,068
$
14,490
$
427,115
$
8,286
4.71
(1)
Excludes accrued interest receivable on held-to-maturity debt securities that totaled $
5.5
 
million as of December 31, 2022, was reported as part of accrued interest receivable on loans and investment securities in the
consolidated statements of financial condition, and is excluded from the estimate of credit losses.
The
 
following
 
tables
 
present
 
the
 
Corporation’s
 
held-to-maturity
 
debt
 
securities’
 
fair
 
value
 
and
 
gross
 
unrecognized
 
losses,
aggregated by
 
category and length
 
of time that
 
individual securities had
 
been in a
 
continuous unrecognized
 
loss position, as
 
of March
31, 2023 and December 31, 2022, including debt securities for which
 
an ACL was recorded:
As of March 31, 2023
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
$
-
$
-
$
108,266
$
3,418
$
108,266
$
3,418
 
MBS:
 
Residential MBS:
 
FHLMC certificates
37,947
1,358
-
-
37,947
1,358
 
GNMA certificates
17,707
795
-
-
17,707
795
 
FNMA certificates
69,068
2,190
-
-
69,068
2,190
 
CMOs
31,368
1,154
-
-
31,368
1,154
 
Commercial MBS
99,119
4,889
-
-
99,119
4,889
Total held-to-maturity debt securities
$
255,209
$
10,386
$
108,266
$
3,418
$
363,475
$
13,804
As of December 31, 2022
Less than 12 months
12 months or more
Total
Unrecognized
Unrecognized
Unrecognized
Fair Value
 
Losses
Fair Value
 
Losses
Fair Value
 
Losses
(In thousands)
Debt securities:
 
Puerto Rico municipal bonds
$
-
$
-
$
98,797
$
2,769
$
98,797
$
2,769
 
MBS:
 
Residential MBS:
 
FHLMC certificates
39,171
1,634
-
-
39,171
1,634
 
GNMA certificates
18,188
943
-
-
18,188
943
 
FNMA certificates
69,192
3,155
-
-
69,192
3,155
 
CMOs
33,032
1,424
-
-
33,032
1,424
 
Commercial MBS
100,523
4,565
-
-
100,523
4,565
Total held-to-maturity debt securities
$
260,106
$
11,721
$
98,797
$
2,769
$
358,903
$
14,490
The
 
Corporation
 
classifies
 
the
 
held-to-maturity
 
debt
 
securities
 
portfolio
 
into
 
the
 
following
 
major
 
security
 
types:
 
MBS
 
issued
 
by
GSEs
 
and
 
Puerto
 
Rico
 
municipal
 
bonds.
 
As
 
of
 
March
 
31,
 
2023,
 
all
 
of
 
the
 
MBS
 
included
 
in
 
the
 
held-to-maturity
 
debt
 
securities
portfolio were
 
issued by
 
GSEs. The
 
Corporation does
 
not recognize
 
an ACL
 
for these
 
securities since
 
they are
 
highly rated
 
by major
rating agencies and have a
 
long history of no credit losses. In
 
the case of Puerto Rico
 
municipal bonds, the Corporation determines
 
the
ACL based on
 
the product of
 
a cumulative PD
 
and LGD, and
 
the amortized cost
 
basis of the
 
bonds over their
 
remaining expected
 
life
as described
 
in Note
 
1 –
 
Nature of
 
Business and
 
Summary
 
of Significant
 
Accounting Policies,
 
to the
 
audited
 
consolidated
 
financial
statements included in the 2022 Annual Report on Form 10-K.
 
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
 
March 31, 2023.
 
A security
 
is considered
 
to be past
 
due once
 
it is 30
 
days contractually
 
past
due under the
 
terms of the agreement.
 
The Puerto Rico
 
municipal bonds had
 
an ACL of $
7.6
 
million as of
 
March 31, 2023,
 
compared
to $
8.3
 
million as of
 
December 31, 2022,
 
mostly related to
 
a reduction in
 
qualitative reserves driven
 
by updated financial
 
information
of certain bond issuers received during the first quarter of 2023.
 
The
 
following
 
table
 
presents
 
the
 
activity
 
in
 
the
 
ACL
 
for
 
held-to-maturity
 
debt
 
securities
 
by
 
major
 
security
 
type
 
for
 
the
 
quarters
ended March 31, 2023 and 2022:
Puerto Rico Municipal Bonds
Quarter Ended
March 31, 2023
March 31, 2022
(In thousands)
Beginning Balance
$
8,286
$
8,571
Provision for credit losses - (benefit) expense
(640)
3,753
ACL on held-to-maturity debt securities
$
7,646
$
12,324
During the
 
second quarter
 
of 2019,
 
the oversight
 
board established
 
by PROMESA
 
announced
 
the designation
 
of Puerto
 
Rico’s
 
78
municipalities
 
as
 
covered
 
instrumentalities
 
under
 
PROMESA.
 
Municipalities
 
may
 
be
 
affected
 
by
 
the
 
negative
 
economic
 
and
 
other
effects
 
resulting
 
from
 
expense,
 
revenue,
 
or
 
cash
 
management
 
measures
 
taken
 
by
 
the
 
Puerto
 
Rico
 
government
 
to
 
address
 
its
 
fiscal
situation, or measures included
 
in its fiscal plan or
 
fiscal plans of other
 
government entities. Given the inherent
 
uncertainties about the
fiscal
 
situation
 
of
 
the
 
Puerto
 
Rico
 
central
 
government,
 
the
 
COVID-19
 
pandemic,
 
and
 
the
 
measures
 
taken,
 
or
 
to
 
be
 
taken,
 
by
 
other
government entities in
 
response to economic
 
and fiscal challenges 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
 
March
 
31,
 
2023
 
and
 
December
 
31,
 
2022,
 
the
 
Corporation
 
had
 
no
 
outstanding
 
securities
 
held
 
to maturity
 
that
 
were
classified as cash and cash equivalents.
Credit Quality Indicators:
The held-to-maturity debt securities
 
portfolio consisted of GSEs
’
MBS and financing arrangements
 
with Puerto Rico municipalities
issued in
 
bond form.
 
As previously
 
mentioned,
 
the Corporation
 
expects
 
no credit
 
losses on
 
GSEs MBS.
 
The Puerto
 
Rico municipal
bonds
 
are
 
accounted
 
for
 
as
 
securities
 
but
 
are
 
underwritten
 
as
 
loans
 
with
 
features
 
that
 
are
 
typically
 
found
 
in
 
commercial
 
loans.
Accordingly, the
 
Corporation monitors the credit quality of these municipal bonds through the
 
use of internal credit-risk ratings, which
are generally updated
 
on a quarterly basis.
 
The Corporation considers
 
a municipal bond
 
as a criticized asset
 
if its risk rating
 
is Special
Mention,
 
Substandard,
 
Doubtful,
 
or
 
Loss.
 
Puerto
 
Rico
 
municipal
 
bonds
 
that
 
do
 
not
 
meet
 
the
 
criteria
 
for
 
classification
 
as
 
criticized
assets are considered
 
to be Pass-rated
 
securities. For the
 
definitions of
 
the internal
 
credit-risk ratings, see
 
Note 3 –
 
Debt Securities, to
the audited consolidated financial statements included in the 2022 Annual
 
Report on Form 10-K.
 
The
 
Corporation
 
periodically
 
reviews
 
its Puerto
 
Rico
 
municipal
 
bonds
 
to
 
evaluate
 
if
 
they are
 
properly
 
classified,
 
and to
 
measure
credit losses on
 
these securities. The
 
frequency of these
 
reviews will depend
 
on the amount
 
of the aggregate
 
outstanding debt, and
 
the
risk rating classification of the obligor.
The
 
Corporation
 
has
 
a
 
Loan
 
Review
 
Group
 
that
 
reports
 
directly
 
to
 
the
 
Corporation’s
 
Risk
 
Management
 
Committee
 
and
administratively
 
to
 
the
 
Chief
 
Risk
 
Officer.
 
The
 
Loan
 
Review
 
Group
 
performs
 
annual
 
comprehensive
 
credit
 
process
 
reviews
 
of
 
the
Bank’s
 
commercial
 
loan
 
portfolios,
 
including
 
the
 
above-mentioned
 
Puerto
 
Rico
 
municipal
 
bonds
 
accounted
 
for
 
as
 
held-to-maturity
debt
 
securities.
 
The objective
 
of
 
these
 
loan
 
reviews is
 
to
 
assess accuracy
 
of the
 
Bank’s
 
determination
 
and
 
maintenance
 
of
 
loan
 
risk
rating
 
and
 
its
 
adherence
 
to
 
lending
 
policies,
 
practices
 
and
 
procedures.
 
The
 
monitoring
 
performed
 
by
 
this
 
group
 
contributes
 
to
 
the
assessment
 
of
 
compliance
 
with
 
credit
 
policies
 
and
 
underwriting
 
standards,
 
the
 
determination
 
of
 
the
 
current
 
level
 
of
 
credit
 
risk,
 
the
evaluation of
 
the effectiveness
 
of the credit
 
management process,
 
and the identification
 
of any deficiency
 
that may arise
 
in the credit-
granting process. Based
 
on its findings, the
 
Loan Review Group recommends
 
corrective actions, if
 
necessary,
 
that help in maintaining
a sound credit process. The Loan Review Group reports the results of the credit
 
process reviews to the Risk Management Committee.
As of
 
March 31,
 
2023 and
 
December 31,
 
2022,
 
all Puerto
 
Rico
 
municipal
 
bonds
 
classified
 
as held-to-maturity
 
were
 
classified as
Pass.
v3.23.1
LOANS HELD FOR INVESTMENT
 3 Months Ended
Mar. 31, 2023
LOANS HELD FOR INVESTMENT [Abstract]  
LOAN HELD FOR INVESTMENT
NOTE 3 – LOANS HELD FOR INVESTMENT
 
 
The
 
following table
 
provides information
 
about
 
the
 
loan
 
portfolio held
 
for
 
investment by
 
portfolio segment
 
and
 
disaggregated by
geographic locations
 
as of the indicated
 
dates:
As of March 31,
 
As of December 31,
2023
2022
(In thousands)
Puerto Rico and Virgin Islands region:
Residential mortgage loans, mainly secured by first mortgages
$
2,381,782
$
2,417,900
Construction loans
48,195
34,772
Commercial mortgage loans
 
1,829,173
1,834,204
Commercial and Industrial ("C&I") loans
1,941,228
1,860,109
Consumer loans
3,398,245
3,317,489
Loans held for investment
$
9,598,623
$
9,464,474
Florida region:
Residential mortgage loans, mainly secured by first mortgages
$
429,746
$
429,390
Construction loans
95,469
98,181
Commercial mortgage loans
 
524,486
524,647
C&I loans
920,961
1,026,154
Consumer loans
8,700
9,979
Loans held for investment
$
1,979,362
$
2,088,351
Total:
Residential mortgage loans, mainly secured by first mortgages
$
2,811,528
$
2,847,290
Construction loans
143,664
132,953
Commercial mortgage loans
 
2,353,659
2,358,851
C&I loans
(1)
2,862,189
2,886,263
Consumer loans
3,406,945
3,327,468
Loans held for investment
(2)
11,577,985
11,552,825
ACL on loans and finance leases
(265,567)
(260,464)
Loans held for investment, net
$
11,312,418
$
11,292,361
(1)
As of March 31, 2023 and December 31, 2022, includes $
837.8
 
million and $
838.5
 
million, respectively, of commercial loans that were secured by real estate and
the primary source of repayment at origination was not dependent
 
upon the real estate.
(2)
Includes accretable fair value net purchase discounts of $
28.3
 
million and $
29.3
 
million as of March 31, 2023 and December 31, 2022, respectively.
When a
 
loan
 
is placed
 
on nonaccrual
 
status, any
 
accrued but
 
uncollected
 
interest income
 
is reversed
 
and
 
charged
 
against interest
income
 
and the
 
amortization of
 
any net
 
deferred fees
 
is suspended.
 
The amount
 
of accrued
 
interest reversed
 
against interest
 
income
totaled $
0.6
 
million and $
0.4
 
million for the
 
quarters ended March
 
31, 2023 and
 
2022, respectively.
 
For the quarters
 
ended March 31,
2023 and 2022, the cash interest income recognized on nonaccrual loans
 
amounted to $
0.5
 
million and $
0.4
 
million, respectively.
As of
 
March 31,
 
2023, the
 
recorded investment
 
on residential
 
mortgage loans
 
collateralized by
 
residential real
 
estate property
 
that
were in
 
the process
 
of foreclosure
 
amounted to
 
$
62.6
 
million, including
 
$
27.2
 
million of
 
FHA/VA
 
government-guaranteed
 
mortgage
loans, and
 
$
8.8
 
million of
 
PCD loans
 
acquired prior
 
to the
 
adoption, on
 
January 1,
 
2020, of
 
CECL.
The Corporation
 
commences the
foreclosure
 
process
 
on
 
residential
 
real
 
estate
 
loans
 
when
 
a
 
borrower
 
becomes
120
 
days
 
delinquent.
 
Foreclosure
 
procedures
 
and
timelines
 
vary
 
depending
 
on
 
whether
 
the
 
property
 
is
 
located
 
in
 
a
 
judicial
 
or
 
non-judicial
 
state.
 
Occasionally,
 
foreclosures
 
may
 
be
delayed due to, among other reasons, mandatory mediations, bankruptcy,
 
court delays, and title issues.
As of March 31, 2023
Days Past Due and Accruing
Current
30-59
60-89
90+
(1) (2) (3)
Nonaccrual
(4)
Total loans held
for investment
Nonaccrual
Loans with no
ACL
(5)
(In thousands)
Residential mortgage loans, mainly secured by first mortgages:
 
FHA/VA government-guaranteed
 
loans
(1) (3) (6)
$
67,977
$
-
$
1,869
$
41,723
$
-
$
111,569
$
-
 
Conventional residential mortgage loans
(2) (6)
2,626,542
-
23,367
13,640
36,410
2,699,959
2,250
Commercial loans:
 
Construction loans
 
141,870
-
-
-
1,794
143,664
972
 
Commercial mortgage loans
(2) (6)
2,323,116
509
507
7,929
21,598
2,353,659
15,787
 
C&I loans
 
2,840,568
1,438
424
6,355
13,404
2,862,189
1,858
Consumer loans:
 
Auto loans
1,780,593
34,754
6,380
-
11,138
1,832,865
3,342
 
Finance leases
743,656
8,056
1,562
-
2,208
755,482
344
 
Personal loans
353,214
4,160
2,098
-
1,263
360,735
-
 
Credit cards
299,387
3,989
2,518
4,733
-
310,627
-
 
Other consumer loans
143,035
1,916
958
-
1,327
147,236
21
 
Total loans held for investment
$
11,319,958
$
54,822
$
39,683
$
74,380
$
89,142
$
11,577,985
$
24,574
 
(1)
It is the Corporation's policy to report delinquent Federal Housing Authority (“FHA”)/Veterans Affairs (“VA”)
 
government-guaranteed residential mortgage loans as past-due loans 90 days and still accruing as opposed
to nonaccrual loans. 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 $
25.9
 
million of residential mortgage loans guaranteed by the FHA that were over 15 months delinquent.
(2)
Includes purchased credit deteriorated ("PCD") loans previously accounted for under ASC Subtopic 310-30, "Loans and Debt Securities Acquired with Deteriorated Credit Quality" ("ASC Subtopic 310-30") for which
the Corporation made the accounting policy election of maintaining pools of loans as “units of account” both at the time of adoption of CECL on January 1, 2020 and on an ongoing basis for credit loss measurement.
These loans will continue to be excluded from nonaccrual loan statistics as long as the Corporation can reasonably estimate the timing and amount of cash flows expected to be collected on the loan pools. The portion of
such loans contractually past due 90 days or more, amounting to $
10.4
 
million as of March 31, 2023 ($
9.4
 
million conventional residential mortgage loans and $
1.0
 
million commercial mortgage loans), is presented in
the loans past due 90 days or more and still accruing category in the table above.
(3)
Include rebooked loans, which were previously pooled into GNMA securities, amounting to $
7.1
 
million as of March 31, 2023. Under the GNMA program, the Corporation has the option but not the obligation to
repurchase loans that meet GNMA’s
 
specified delinquency criteria. For accounting purposes, these loans subject to the repurchase option are required to be reflected on the financial statements with an offsetting
liability.
(4)
Nonaccrual loans in the Florida region amounted to $
15.2
 
million as of March 31, 2023, primarily nonaccrual residential mortgage loans and C&I loans.
(5)
Includes $
0.3
 
million of nonaccrual C&I loans with no ACL in the Florida region as of March 31, 2023.
(6)
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 March 31, 2023 amounted to $
5.3
 
million, $
60.7
 
million, and $
1.1
 
million,
respectively.
As of December 31, 2022
Days Past Due and Accruing
Current
30-59
60-89
90+
(1)(2)(3)
Nonaccrual
(4)
Total loans held
for investment
Nonaccrual
Loans with no
ACL
(5)
(In thousands)
Residential mortgage loans, mainly secured by first mortgages:
 
FHA/VA government-guaranteed
 
loans
(1) (3) (6)
$
67,116
$
-
$
2,586
$
48,456
$
-
$
118,158
$
-
 
Conventional residential mortgage loans
(2) (6)
2,643,909
-
25,630
16,821
42,772
2,729,132
2,292
Commercial loans:
 
Construction loans
130,617
-
-
128
2,208
132,953
977
 
Commercial mortgage loans
(2) (6)
2,330,094
300
2,367
3,771
22,319
2,358,851
15,991
 
C&I loans
 
2,868,989
1,984
1,128
6,332
7,830
2,886,263
3,300
Consumer loans:
 
Auto loans
1,740,271
40,039
7,089
-
10,672
1,798,071
2,136
 
Finance leases
707,646
7,148
1,791
-
1,645
718,230
330
 
Personal loans
346,366
3,738
1,894
-
1,248
353,246
-
 
Credit cards
301,013
3,705
2,238
4,775
-
311,731
-
 
Other consumer loans
141,687
1,804
1,458
-
1,241
146,190
-
 
Total loans held for investment
$
11,277,708
$
58,718
$
46,181
$
80,283
$
89,935
$
11,552,825
$
25,026
 
(1)
It is the Corporation's policy to report delinquent FHA/VA government-guaranteed residential mortgage loans as past-due loans 90 days and still accruing as opposed to
 
nonaccrual loans. 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 $
28.2
 
million of residential mortgage loans
guaranteed by the FHA that were over 15 months delinquent.
(2)
Includes PCD loans previously accounted for under ASC Subtopic 310-30 for which the Corporation made the accounting policy election of maintaining pools of loans as “units of account” both at the time of adoption
of CECL on January 1, 2020 and on an ongoing basis for credit loss measurement. These loans will continue to be excluded from nonaccrual loan statistics as long as the Corporation can reasonably estimate the timing
and amount of cash flows expected to be collected on the loan pools. The portion of such loans contractually past due 90 days or more, amounting to $
12.0
 
million as of December 31, 2022 ($
11.0
 
million conventional
residential mortgage loans and $
1.0
 
million commercial mortgage loans), is presented in the loans past due 90 days or more and still accruing category in the table above.
(3)
Include rebooked loans, which were previously pooled into GNMA securities, amounting to $
10.3
 
million as of December 31, 2022. Under the GNMA program, the Corporation has the option but not the obligation to
repurchase loans that meet GNMA’s
 
specified delinquency criteria. For accounting purposes, these loans subject to the repurchase option are required to be reflected on the financial statements with an offsetting
liability.
(4)
Nonaccrual loans in the Florida region amounted to $
8.3
 
million as of December 31, 2022, primarily nonaccrual residential mortgage loans.
(5)
Includes $
0.3
 
million of nonaccrual C&I loans with no ACL in the Florida region as of December 31, 2022.
(6)
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, 2022 amounted to $
6.1
 
million, $
65.2
 
million, and $
1.6
 
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,
 
C&I,
 
and
construction
 
loans
 
individually
 
to
 
classify
 
the
 
loans’
 
credit
 
risk.
 
As
 
mentioned
 
above,
 
the
 
Corporation
 
periodically
 
reviews
 
its
commercial
 
and
 
construction
 
loans
 
to
 
evaluate
 
if
 
they
 
are
 
properly
 
classified.
 
The
 
frequency
 
of
 
these
 
reviews
 
will
 
depend
 
on
 
the
amount of
 
the aggregate
 
outstanding debt,
 
and the
 
risk rating
 
classification of
 
the obligor.
 
In addition,
 
during the
 
renewal and
 
annual
review process of
 
applicable credit facilities, the
 
Corporation evaluates the
 
corresponding loan grades.
 
The Corporation uses the
 
same
definition
 
for
 
risk
 
ratings
 
as
 
those
 
described
 
for
 
Puerto
 
Rico
 
municipal
 
bonds
 
accounted
 
for
 
as
 
held-to-maturity
 
debt
 
securities,
 
as
discussed in
 
Note 3
 
– Debt
 
Securities, to
 
the audited
 
consolidated financial
 
statements included
 
in the
 
2022 Annual
 
Report on
 
Form
10-K.
For residential mortgage and consumer loans, the Corporation also evaluates credit
 
quality based on its interest accrual status.
 
Based on
 
the most
 
recent analysis
 
performed, the
 
amortized cost
 
of commercial
 
and construction
 
loans by portfolio
 
classes and by
origination year based
 
on the internal credit-risk
 
category as of March
 
31, 2023, the gross charge
 
-offs for the quarter
 
ended March 31,
2023 by
 
portfolio
 
classes and
 
by origination
 
year,
 
and the
 
amortized
 
cost of
 
commercial and
 
construction loans
 
by portfolio
 
classes
based on the internal credit-risk category as of December 31, 2022, was as follows:
As of March 31,
 
2023
Puerto Rico and Virgin Islands region
Term Loans
As of December 31, 2022
Amortized Cost Basis by Origination Year
(1)
2023
2022
2021
2020
2019
Prior
Revolving
Loans
Amortized
Cost Basis
Total
Total
(In thousands)
CONSTRUCTION
 
Risk Ratings:
 
Pass
$
6,479
$
16,509
$
18,842
$
-
$
-
$
3,885
$
-
$
45,715
$
31,879
 
Criticized:
 
Special Mention
-
-
-
-
-
-
-
-
-
 
Substandard
-
-
-
-
-
2,480
-
2,480
2,893
 
Doubtful
-
-
-
-
-
-
-
-
-
 
Loss
-
-
-
-
-
-
-
-
-
 
Total construction loans
$
6,479
$
16,509
$
18,842
$
-
$
-
$
6,365
$
-
$
48,195
$
34,772
 
Charge-offs on construction loans
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
COMMERCIAL MORTGAGE
 
Risk Ratings:
 
Pass
$
67,469
$
391,295
$
139,536
$
325,141
$
301,638
$
400,794
$
478
$
1,626,351
$
1,655,728
 
Criticized:
 
Special Mention
-
1,177
-
36,546
75
131,350
-
169,148
145,415
 
Substandard
-
132
-
-
2,797
30,745
-
33,674
33,061
 
Doubtful
-
-
-
-
-
-
-
-
-
 
Loss
-
-
-
-
-
-
-
-
-
 
Total commercial mortgage loans
$
67,469
$
392,604
$
139,536
$
361,687
$
304,510
$
562,889
$
478
$
1,829,173
$
1,834,204
 
Charge-offs on commercial mortgage loans
$
-
$
-
$
-
$
-
$
-
$
18
$
-
$
18
C&I
 
Risk Ratings:
 
Pass
$
70,739
$
303,603
$
188,155
$
181,284
$
308,225
$
254,283
$
565,758
$
1,872,047
$
1,789,572
 
Criticized:
 
Special Mention
-
132
839
-
1,029
12,885
32,322
47,207
43,224
 
Substandard
-
-
396
652
13,430
7,117
379
21,974
27,313
 
Doubtful
-
-
-
-
-
-
-
-
-
 
Loss
-
-
-
-
-
-
-
-
-
 
Total C&I loans
$
70,739
$
303,735
$
189,390
$
181,936
$
322,684
$
274,285
$
598,459
$
1,941,228
$
1,860,109
 
Charge-offs on C&I loans
$
-
$
-
$
-
$
-
$
-
$
63
$
55
$
118
(1) Excludes accrued interest receivable.
As of March 31,
 
2023
Term Loans
As of December 31, 2022
Florida region
Amortized Cost Basis by Origination Year
(1)
2023
2022
2021
2020
2019
Prior
Revolving
Loans
Amortized
Cost Basis
Total
Total
(In thousands)
CONSTRUCTION
 
Risk Ratings:
 
Pass
$
107
$
50,019
$
42,867
$
-
$
-
$
-
$
2,476
$
95,469
$
98,181
 
Criticized:
 
Special Mention
-
-
-
-
-
-
-
-
-
 
Substandard
-
-
-
-
-
-
-
-
-
 
Doubtful
-
-
-
-
-
-
-
-
-
 
Loss
-
-
-
-
-
-
-
-
-
 
Total construction loans
$
107
$
50,019
$
42,867
$
-
$
-
$
-
$
2,476
$
95,469
$
98,181
 
Charge-offs on construction loans
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
COMMERCIAL MORTGAGE
 
Risk Ratings:
 
Pass
$
3,529
$
177,392
$
70,147
$
41,024
$
51,320
$
140,177
$
19,551
$
503,140
$
503,184
 
Criticized:
 
Special Mention
-
-
-
6,947
13,231
-
-
20,178
20,295
 
Substandard
-
-
-
1,168
-
-
-
1,168
1,168
 
Doubtful
-
-
-
-
-
-
-
-
-
 
Loss
-
-
-
-
-
-
-
-
-
 
Total commercial mortgage loans
$
3,529
$
177,392
$
70,147
$
49,139
$
64,551
$
140,177
$
19,551
$
524,486
$
524,647
 
Charge-offs on commercial mortgage loans
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
C&I
 
Risk Ratings:
 
Pass
$
36,642
$
276,868
$
134,512
$
75,953
$
183,443
$
72,650
$
92,816
$
872,884
$
979,151
 
Criticized:
 
Special Mention
-
-
19,677
-
5,974
11,725
-
37,376
17,905
 
Substandard
-
-
-
264
195
2,854
300
3,613
29,098
 
Doubtful
-
-
-
-
-
7,088
-
7,088
-
 
Loss
-
-
-
-
-
-
-
-
-
 
Total C&I loans
$
36,642
$
276,868
$
154,189
$
76,217
$
189,612
$
94,317
$
93,116
$
920,961
$
1,026,154
 
Charge-offs on C&I loans
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
(1) Excludes accrued interest receivable.
As of March 31,
 
2023
Total
Term Loans
As of December 31, 2022
Amortized Cost Basis by Origination Year (1)
2023
2022
2021
2020
2019
Prior
Revolving
Loans
Amortized
Cost Basis
Total
Total
(In thousands)
CONSTRUCTION
 
Risk Ratings:
 
Pass
$
6,586
$
66,528
$
61,709
$
-
$
-
$
3,885
$
2,476
$
141,184
$
130,060
 
Criticized:
 
Special Mention
-
-
-
-
-
-
-
-
-
 
Substandard
-
-
-
-
-
2,480
-
2,480
2,893
 
Doubtful
-
-
-
-
-
-
-
-
-
 
Loss
-
-
-
-
-
-
-
-
-
 
Total construction loans
$
6,586
$
66,528
$
61,709
$
-
$
-
$
6,365
$
2,476
$
143,664
$
132,953
 
Charge-offs on construction loans
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
COMMERCIAL MORTGAGE
 
Risk Ratings:
 
Pass
$
70,998
$
568,687
$
209,683
$
366,165
$
352,958
$
540,971
$
20,029
$
2,129,491
$
2,158,912
 
Criticized:
 
Special Mention
-
1,177
-
43,493
13,306
131,350
-
189,326
165,710
 
Substandard
-
132
-
1,168
2,797
30,745
-
34,842
34,229
 
Doubtful
-
-
-
-
-
-
-
-
-
 
Loss
-
-
-
-
-
-
-
-
-
 
Total commercial mortgage loans
$
70,998
$
569,996
$
209,683
$
410,826
$
369,061
$
703,066
$
20,029
$
2,353,659
$
2,358,851
 
Charge-offs on commercial mortgage loans
$
-
$
-
$
-
$
-
$
-
$
18
$
-
$
18
C&I
 
Risk Ratings:
 
Pass
$
107,381
$
580,471
$
322,667
$
257,237
$
491,668
$
326,933
$
658,574
$
2,744,931
$
2,768,723
 
Criticized:
 
Special Mention
-
132
20,516
-
7,003
24,610
32,322
84,583
61,129
 
Substandard
-
-
396
916
13,625
9,971
679
25,587
56,411
 
Doubtful
-
-
-
-
-
7,088
-
7,088
-
 
Loss
-
-
-
-
-
-
-
-
-
 
Total C&I loans
$
107,381
$
580,603
$
343,579
$
258,153
$
512,296
$
368,602
$
691,575
$
2,862,189
$
2,886,263
 
Charge-offs on C&I loans
$
-
$
-
$
-
$
-
$
-
$
63
$
55
$
118
(1) Excludes accrued interest receivable.
Accrued
 
interest
 
receivable
 
on
 
loans
 
totaled
 
$
49.4
 
million
 
as
 
of
 
March
 
31,
 
2023
 
($
53.1
 
million
 
as
 
of
 
December
 
31,
 
2022),
 
was
reported as
 
part of accrued
 
interest receivable on
 
loans and investment
 
securities in the
 
consolidated statements
 
of financial condition
and is excluded from the estimate of credit losses.
 
The
 
following
 
tables
 
present
 
information
 
about
 
collateral
 
dependent
 
loans
 
that
 
were
 
individually
 
evaluated
 
for
 
purposes
 
of
determining the ACL as of March 31, 2023 and December 31, 2022
As of March 31, 2023
Collateral Dependent Loans -
With Allowance
Collateral Dependent
Loans - With No
Related Allowance
Collateral Dependent Loans - Total
Amortized Cost
 
Related
Allowance
Amortized Cost
Amortized Cost
 
Related
Allowance
(In thousands)
Residential mortgage loans:
Conventional residential mortgage loans
$
34,257
$
2,410
$
152
$
34,409
$
2,410
Commercial loans:
Construction loans
-
-
956
956
-
Commercial mortgage loans
2,449
896
61,851
64,300
896
C&I loans
 
1,789
347
13,331
15,120
347
Consumer loans:
Personal loans
55
1
-
55
1
Other consumer loans
-
-
-
-
-
$
38,550
$
3,654
$
76,290
$
114,840
$
3,654
The allowance related
 
to collateral dependent loans
 
reported in the tables
 
above includes qualitative
 
adjustments applied to
 
the loan
portfolio
 
that
 
consider
 
possible
 
changes
 
in
 
circumstances
 
that
 
could
 
ultimately
 
impact
 
credit
 
losses
 
and
 
might
 
not
 
be
 
reflected
 
in
historical
 
data
 
or
 
forecasted
 
data
 
incorporated
 
in
 
the
 
quantitative
 
models.
 
The
 
underlying
 
collateral
 
for
 
residential
 
mortgage
 
and
consumer
 
collateral
 
dependent
 
loans
 
consisted
 
of
 
single-family
 
residential
 
properties,
 
and
 
for
 
commercial
 
and
 
construction
 
loans
consisted
 
primarily
 
of
 
office
 
buildings,
 
multifamily
 
residential
 
properties,
 
and
 
retail
 
establishments.
 
The
 
weighted-average
 
loan-to-
value coverage for
 
collateral dependent loans
 
as of March
 
31, 2023 was
69
%, compared to
70
% as of December
 
31, 2022, which
 
was
not considered a significant change in the extent to which collateral secured these
 
loans.
Purchases and Sales of Loans
In
 
the
 
ordinary
 
course
 
of
 
business,
 
the
 
Corporation
 
enters
 
into
 
securitization
 
transactions
 
and
 
whole
 
loan
 
sales
 
with
 
GNMA
 
and
GSEs, such as FNMA and FHLMC. During the quarters ended March
 
31, 2023 and 2022, loans pooled into GNMA MBS amounted
 
to
approximately $
29.4
 
million and
 
$
41.5
 
million, respectively,
 
for which
 
the Corporation
 
recognized a
 
net gain
 
on sale
 
of $
0.9
 
million
and
 
$
1.3
 
million,
 
respectively.
 
Also,
 
during
 
the
 
quarter
 
ended
 
March
 
31,
 
2023,
 
the
 
Corporation
 
sold
 
approximately
 
$
8.0
 
million
 
of
performing residential
 
mortgage loans
 
to FNMA, of
 
which the
 
Corporation recognized
 
a net gain
 
on sale of
 
$
0.2
 
million. In addition,
during the quarter ended March 31,
 
2022, the Corporation sold approximately
 
$
50.0
 
million and $
2.4
 
million of performing residential
mortgage loans to
 
FNMA and FHLMC,
 
respectively,
 
of which the
 
Corporation recognized
 
a net gain
 
on sale of
 
$
2.1
 
million and $
0.1
million, respectively.
 
The Corporation’s continuing
 
involvement with the loans that it
 
sells consists primarily of servicing
 
the loans. In
addition,
 
the
 
Corporation
 
agrees
 
to
 
repurchase
 
loans
 
if
 
it
 
breaches
 
any
 
of
 
the
 
representations
 
and
 
warranties
 
included
 
in
 
the
 
sale
agreement. These
 
representations and
 
warranties are consistent
 
with the GSEs’
 
selling and servicing
 
guidelines (i.e.,
 
ensuring that the
mortgage was properly underwritten according to established guidelines).
For loans
 
pooled into
 
GNMA MBS,
 
the Corporation,
 
as servicer,
 
holds an
 
option to
 
repurchase individual
 
delinquent loans
 
issued
on or
 
after January 1,
 
2003 when certain
 
delinquency criteria are
 
met. This option
 
gives the Corporation
 
the unilateral ability,
 
but not
the obligation, to
 
repurchase the delinquent
 
loans at par without
 
prior authorization from
 
GNMA. Since the
 
Corporation is considered
to
 
have
 
regained
 
effective
 
control
 
over
 
the
 
loans,
 
it
 
is
 
required
 
to
 
recognize
 
the
 
loans
 
and
 
a
 
corresponding
 
repurchase
 
liability
regardless of its
 
intent to repurchase
 
the loans. As
 
of March 31, 2023
 
and December 31, 2022,
 
rebooked GNMA delinquent
 
loans that
were included in the residential mortgage loan portfolio amounted
 
to $
7.1
 
million and $
10.4
 
million, respectively.
 
During
 
the
 
quarters
 
ended
 
March
 
31,
 
2023
 
and
 
2022,
 
the
 
Corporation
 
repurchased,
 
pursuant
 
to
 
the
 
aforementioned
 
repurchase
option, $
1.5
 
million and $
0.5
 
million, respectively,
 
of loans previously pooled
 
into GNMA MBS. The
 
principal balance of these
 
loans
is fully
 
guaranteed,
 
and the
 
risk of
 
loss related
 
to the
 
repurchased loans
 
is generally
 
limited to
 
the difference
 
between the
 
delinquent
interest payment
 
advanced
 
to GNMA,
 
which
 
is computed
 
at the
 
loan’s
 
interest
 
rate, and
 
the interest
 
payments
 
reimbursed
 
by FHA,
which are
 
computed at
 
a pre-determined
 
debenture
 
rate. Repurchases
 
of GNMA
 
loans allow
 
the Corporation,
 
among other
 
things, to
maintain acceptable delinquency
 
rates on outstanding GNMA
 
pools and remain as
 
a seller and servicer
 
in good standing with
 
GNMA.
Historically, losses
 
on these repurchases of
 
GNMA delinquent loans have
 
been immaterial and no provision has
 
been made at the time
of sale.
Loan sales to FNMA and FHLMC are without recourse in relation
 
to the future performance of the loans.
 
The Corporation’s risk of
loss
 
with
 
respect
 
to
 
these
 
loans
 
is
 
also
 
minimal
 
as
 
these
 
repurchased
 
loans
 
are
 
generally
 
performing
 
loans
 
with
 
documentation
deficiencies.
 
No
 
significant
 
purchases
 
of
 
loans
 
were
 
executed
 
during
 
the
 
first
 
quarter
 
of
 
2023.
 
During
 
the
 
quarter
 
ended
 
March
 
31,
 
2022,
 
the
Corporation purchased certain C&I loan participations in the Florida region
 
totaling $
46.4
 
million.
 
Loan Portfolio Concentration
The Corporation’s
 
primary
 
lending area
 
is Puerto
 
Rico. The
 
Corporation’s
 
banking subsidiary,
 
FirstBank, also
 
lends in
 
the USVI
and BVI markets
 
and in the
 
United States (principally
 
in the state of
 
Florida). Of the
 
total gross loans
 
held for investment
 
portfolio of
$
11.6
 
billion as
 
of March
 
31, 2023,
 
credit risk
 
concentration was
 
approximately
80
% in Puerto
 
Rico,
17
% in the
 
U.S., and
3
% in
 
the
USVI and BVI.
As
 
of
 
March
 
31,
 
2023,
 
the
 
Corporation
 
had
 
$
170.9
 
million
 
outstanding
 
in
 
loans
 
extended
 
to
 
the
 
Puerto
 
Rico
 
government,
 
its
municipalities and
 
public corporations,
 
compared to
 
$
169.8
 
million as
 
of December
 
31, 2022.
 
As of
 
March 31,
 
2023, approximately
$
102.7
 
million
 
consisted
 
of
 
loans
 
extended
 
to
 
municipalities
 
in
 
Puerto
 
Rico
 
that
 
are
 
general
 
obligations
 
supported
 
by
 
assigned
property
 
tax
 
revenues,
 
and $
28.0
 
million
 
of
 
loans which
 
are supported
 
by one
 
or
 
more
 
specific sources
 
of municipal
 
revenues. The
vast
 
majority
 
of
 
revenues
 
of the
 
municipalities
 
included
 
in
 
the
 
Corporation’s
 
loan
 
portfolio
 
are
 
independent
 
of
 
budgetary
 
subsidies
provided
 
by
 
the
 
Puerto
 
Rico
 
central
 
government.
 
These
 
municipalities
 
are
 
required
 
by
 
law
 
to
 
levy
 
special
 
property
 
taxes
 
in
 
such
amounts
 
as
 
are
 
required
 
to
 
satisfy
 
the
 
payment
 
of
 
all
 
of
 
their
 
respective
 
general
 
obligation
 
bonds
 
and
 
notes.
 
In
 
addition
 
to
 
loans
extended to municipalities,
 
the Corporation’s
 
exposure to the Puerto
 
Rico government as of
 
March 31, 2023 included
 
$
10.2
 
million in
loans granted
 
to an affiliate
 
of the
 
Puerto
Rico Electric
Power Authority
 
(“PREPA”)
 
and $
30.0
 
million in loans
 
to agencies or
 
public
corporations of the Puerto Rico government.
 
In addition,
 
as of March
 
31, 2023, the
 
Corporation had
 
$
82.9
 
million in exposure
 
to residential mortgage
 
loans that are
 
guaranteed
by
 
the
 
PRHFA,
 
a
 
government
 
instrumentality
 
that
 
has
 
been
 
designated
 
as
 
a
 
covered
 
entity
 
under
 
PROMESA,
 
compared
 
to
 
$
84.7
million as of
 
December 31, 2022.
 
Residential mortgage
 
loans guaranteed by
 
the PRHFA
 
are secured by
 
the underlying properties
 
and
the guarantees serve to cover shortfalls in collateral in the event of a borrower default.
The Corporation also has credit exposure
 
to USVI government entities. As of
 
March 31, 2023, the Corporation had
$
38.7
 
million in
loans to USVI
 
government public corporations,
 
compared to $
38.0
 
million as of
 
December 31, 2022.
 
As of March
 
31, 2023, all
 
loans
were currently performing and up to date on principal and interest payments.
Loss Mitigation Program for Borrowers Experiencing
 
Financial Difficulty
The Corporation
 
provides
 
homeownership
 
preservation
 
assistance to
 
its customers
 
through
 
a loss
 
mitigation
 
program.
 
Depending
upon the nature
 
of a borrower’s financial
 
condition, restructurings or
 
loan modifications through
 
this program are provided,
 
as well as
other restructurings of
 
individual C&I, commercial
 
mortgage, construction, and
 
residential mortgage
 
loans. The Corporation
 
may also
modify
 
contractual
 
terms
 
to
 
comply
 
with
 
regulations
 
regarding
 
the
 
treatment
 
of
 
certain
 
bankruptcy
 
filings
 
and
 
discharge
 
situations.
See Note 1 – Basis of Presentation and Significant
 
Accounting Policies, for additional information related to
 
the accounting policies of
loan modifications granted to borrowers experiencing financial difficulty.
The
 
loan
 
modifications
 
granted
 
to
 
borrowers
 
experiencing
 
financial
 
difficulty
 
that
 
are
 
associated
 
to
 
payment
 
delays
 
typically
include the following:
-
Forbearance plans –
 
Payments of either interest
 
and/or principal are
 
deferred for a pre-established
 
period of time, generally
 
not
exceeding
 
six
 
months
 
in
 
any
 
given
 
year.
 
The
 
deferred
 
interest
 
and/or
 
principal
 
is
 
repaid
 
as
 
either
 
a
 
lump
 
sum
 
payment
 
at
maturity date or by extending the loan’s
 
maturity date by the number of forbearance months granted.
 
-
Payment
 
plans
 
–
 
Borrowers
 
are
 
allowed
 
to
 
pay
 
the
 
regular
 
monthly
 
payment
 
plus
 
the
 
pre-established
 
delinquent
 
amounts
during a period generally not exceeding
 
six months.
 
At the end of the payment plan, the
 
borrower is required to resume making
its regularly scheduled loan payments.
-
Trial modifications
 
– These types of loan
 
modifications are granted for
 
residential mortgage loans. Borrower
 
s
 
continue making
reduced monthly payments during
 
the trial period, which
 
is generally of up to
 
six months. The reduced
 
payments that are made
by the
 
borrower during
 
the trial
 
period will
 
result in
 
a payment
 
delay with
 
respect to
 
the original
 
contractual terms
 
of the loan
since
 
the
 
loan
 
has
 
not
 
yet
 
been
 
contractually
 
modified.
 
After
 
successful
 
completion
 
of
 
the
 
trial
 
period,
 
the
 
mortgage
 
loan
 
is
contractually modified.
Modifications
 
in
 
the
 
form
 
of
 
a
 
reduction
 
in
 
interest
 
rate,
 
term
 
extension,
 
an
 
other-than-insignificant
 
payment
 
delay,
 
or
 
any
combination
 
of
 
these
 
types
 
of
 
loan
 
modifications
 
that
 
have
 
occurred
 
in
 
the
 
current
 
reporting
 
period
 
to
 
a
 
borrower
 
experiencing
financial difficulty are disclosed in the tables below.
The
 
below
 
disclosures
 
relate
 
to
 
loan
 
modifications
 
granted
 
to
 
borrowers
 
experiencing
 
financial
 
difficulty
 
in
 
which
 
there
 
was
 
a
change
 
in
 
the
 
timing
 
and/or
 
amount
 
of
 
contractual
 
cash
 
flows
 
in
 
the
 
form
 
of
 
any
 
of
 
the
 
aforementioned
 
types
 
of
 
modifications,
including
 
restructurings
 
that
 
resulted
 
in
 
a
 
more-than-insignificant
 
payment
 
delay.
 
These
 
disclosures
 
exclude
 
$
0.9
 
million
 
in
restructured
 
residential
 
mortgage
 
loans that
 
are government
 
-guaranteed
 
(e.g., FHA/VA
 
loans)
 
and
 
were modified
 
during
 
the quarter
ended March 31, 2023.
Quarter Ended March 31, 2022
Number of contracts
Pre-modification Amortized
Cost
Post-modification Amortized
Cost
(Dollars in thousands)
Conventional residential mortgage loans
23
$
2,996
$
2,993
Construction loans
-
-
-
Commercial mortgage loans
-
-
-
C&I loans
1
5
5
Consumer loans:
 
Auto loans
51
995
993
 
Finance leases
13
264
264
 
Personal loans
5
78
78
 
Credit Cards
44
189
189
 
Other consumer loans
27
146
148
 
Total TDRs
164
$
4,673
$
4,670
Loan modifications
 
considered TDR loans
 
that defaulted (failure
 
by the borrower
 
to make payments
 
of either principal,
 
interest, or
both
 
for
 
a period
 
of 90
 
days or
 
more)
 
during the
 
quarter
 
ended March
 
31, 2022,
 
and had
 
become
 
TDR loans
 
during
 
the 12-months
preceding the default date, were as follows:
Quarter Ended March 31, 2022
Number of contracts
Amortized Cost
(Dollars in thousands)
Conventional residential mortgage loans
3
$
389
Construction loans
-
-
Commercial mortgage loans
-
-
C&I loans
-
-
Consumer loans:
 
Auto loans
24
522
 
Finance leases
1
16
 
Personal loans
-
-
 
Credit cards
11
79
 
Other consumer loans
2
11
 
Total TDRs
41
$
1,017
As of March 31,
 
2023
As of
December 31,
2022
Term Loans
Amortized Cost Basis by Origination Year
(1)
2023
2022
2021
2020
2019
Prior
Revolving
Loans
Amortized
Cost Basis
Total
Total
(In thousands)
Puerto Rico and Virgin Islands Region:
FHA/VA government-guaranteed loans
Accrual Status:
Performing
$
-
$
696
$
448
$
765
$
1,557
$
107,368
$
-
$
110,834
$
117,416
Non-Performing
-
-
-
-
-
-
-
-
-
Total FHA/VA
 
government-guaranteed loans
$
-
$
696
$
448
$
765
$
1,557
$
107,368
$
-
$
110,834
$
117,416
Conventional residential mortgage loans:
Accrual Status:
Performing
$
24,859
$
171,599
$
74,692
$
31,497
$
47,705
$
1,891,603
$
-
$
2,241,955
$
2,265,013
Non-Performing
-
-
35
-
-
28,958
-
28,993
35,471
Total conventional residential mortgage loans
$
24,859
$
171,599
$
74,727
$
31,497
$
47,705
$
1,920,561
$
-
$
2,270,948
$
2,300,484
Total:
Accrual Status:
Performing
$
24,859
$
172,295
$
75,140
$
32,262
$
49,262
$
1,998,971
$
-
$
2,352,789
$
2,382,429
Non-Performing
-
-
35
-
-
28,958
-
28,993
35,471
Total residential mortgage loans in Puerto Rico
and Virgin Islands Region
$
24,859
$
172,295
$
75,175
$
32,262
$
49,262
$
2,027,929
$
-
$
2,381,782
$
2,417,900
Charge-offs on residential mortgage loans
$
-
$
-
$
-
$
3
$
-
$
980
$
-
$
983
(1)
Excludes accrued interest receivable.
As of March 31,
 
2023
As of
December 31,
2022
Term Loans
Amortized Cost Basis by Origination Year
(1)
2023
2022
2021
2020
2019
Prior
Revolving
Loans
Amortized
Cost Basis
Total
Total
(In thousands)
Florida Region:
FHA/VA government-guaranteed loans
Accrual Status:
Performing
$
-
$
-
$
-
$
-
$
-
$
735
$
-
$
735
$
742
Non-Performing
-
-
-
-
-
-
-
-
-
Total FHA/VA
 
government-guaranteed loans
$
-
$
-
$
-
$
-
$
-
$
735
$
-
$
735
$
742
Conventional residential mortgage loans:
Accrual Status:
Performing
$
13,232
$
81,619
$
48,991
$
31,157
$
29,403
$
217,192
$
-
$
421,594
$
421,347
Non-Performing
-
-
-
-
265
7,152
-
7,417
7,301
Total conventional residential mortgage loans
$
13,232
$
81,619
$
48,991
$
31,157
$
29,668
$
224,344
$
-
$
429,011
$
428,648
Total:
Accrual Status:
Performing
$
13,232
$
81,619
$
48,991
$
31,157
$
29,403
$
217,927
$
-
$
422,329
$
422,089
Non-Performing
-
-
-
-
265
7,152
-
7,417
7,301
Total residential mortgage loans in Florida region
$
13,232
$
81,619
$
48,991
$
31,157
$
29,668
$
225,079
$
-
$
429,746
$
429,390
Charge-offs on residential mortgage loans
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
(1)
Excludes accrued interest receivable.
As of March 31,
 
2023
As of
December 31,
2022
Term Loans
Amortized Cost Basis by Origination Year
(1)
2023
2022
2021
2020
2019
Prior
Revolving
Loans
Amortized
Cost Basis
Total
Total
(In thousands)
Total:
FHA/VA government-guaranteed loans
Accrual Status:
Performing
$
-
$
696
$
448
$
765
$
1,557
$
108,103
$
-
$
111,569
$
118,158
Non-Performing
-
-
-
-
-
-
-
-
-
Total FHA/VA
 
government-guaranteed loans
$
-
$
696
$
448
$
765
$
1,557
$
108,103
$
-
$
111,569
$
118,158
Conventional residential mortgage loans:
Accrual Status:
Performing
$
38,091
$
253,218
$
123,683
$
62,654
$
77,108
$
2,108,795
$
-
$
2,663,549
$
2,686,360
Non-Performing
-
-
35
-
265
36,110
-
36,410
42,772
Total conventional residential mortgage loans
$
38,091
$
253,218
$
123,718
$
62,654
$
77,373
$
2,144,905
$
-
$
2,699,959
$
2,729,132
Total:
Accrual Status:
Performing
$
38,091
$
253,914
$
124,131
$
63,419
$
78,665
$
2,216,898
$
-
$
2,775,118
$
2,804,518
Non-Performing
-
-
35
-
265
36,110
-
36,410
42,772
Total residential mortgage loans
$
38,091
$
253,914
$
124,166
$
63,419
$
78,930
$
2,253,008
$
-
$
2,811,528
$
2,847,290
Charge-offs on residential mortgage loans
$
-
$
-
$
-
$
3
$
-
$
980
$
-
$
983
(1)
Excludes accrued interest receivable.
As of March 31,
 
2023
As of
December 31,
2022
Term Loans
Amortized Cost Basis by Origination Year
(1)
2023
2022
2021
2020
2019
Prior
Revolving
Loans
Amortized
Cost Basis
Total
Total
(In thousands)
Puerto Rico and Virgin Islands Regions:
Auto loans:
Accrual Status:
Performing
$
165,925
$
638,402
$
478,373
$
234,358
$
186,331
$
115,561
$
-
$
1,818,950
$
1,783,782
Non-Performing
-
2,419
2,243
1,347
2,708
2,399
-
11,116
10,596
Total auto loans
$
165,925
$
640,821
$
480,616
$
235,705
$
189,039
$
117,960
$
-
$
1,830,066
$
1,794,378
Charge-offs on auto loans
$
19
$
1,827
$
1,210
$
467
$
632
$
365
$
-
$
4,520
Finance leases:
Accrual Status:
Performing
$
78,870
$
282,486
$
183,061
$
82,206
$
74,421
$
52,230
$
-
$
753,274
$
716,585
Non-Performing
-
551
222
433
376
626
-
2,208
1,645
Total finance leases
$
78,870
$
283,037
$
183,283
$
82,639
$
74,797
$
52,856
$
-
$
755,482
$
718,230
Charge-offs on finance leases
$
-
$
227
$
270
$
97
$
185
$
200
$
-
$
979
Personal loans:
Accrual Status:
Performing
$
44,647
$
163,311
$
49,275
$
25,703
$
46,765
$
29,411
$
-
$
359,112
$
351,664
Non-Performing
-
490
188
117
229
239
-
1,263
1,248
Total personal loans
$
44,647
$
163,801
$
49,463
$
25,820
$
46,994
$
29,650
$
-
$
360,375
$
352,912
Charge-offs on personal loans
$
-
$
1,517
$
840
$
279
$
680
$
384
$
-
$
3,700
Credit cards:
Accrual Status:
Performing
$
-
$
-
$
-
$
-
$
-
$
-
$
310,627
$
310,627
$
311,731
Non-Performing
-
-
-
-
-
-
-
-
-
Total credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
310,627
$
310,627
$
311,731
Charge-offs on credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
4,057
$
4,057
Other consumer loans:
Accrual Status:
Performing
$
23,413
$
66,230
$
17,612
$
8,219
$
9,851
$
6,468
$
8,700
$
140,493
$
139,116
Non-Performing
-
540
171
59
104
230
98
1,202
1,122
Total other consumer loans
$
23,413
$
66,770
$
17,783
$
8,278
$
9,955
$
6,698
$
8,798
$
141,695
$
140,238
Charge-offs on other consumer loans
$
14
$
1,842
$
762
$
174
$
326
$
178
$
91
$
3,387
Total:
Performing
$
312,855
$
1,150,429
$
728,321
$
350,486
$
317,368
$
203,670
$
319,327
$
3,382,456
$
3,302,878
Non-Performing
-
4,000
2,824
1,956
3,417
3,494
98
15,789
14,611
Total consumer loans in Puerto Rico and Virgin
Islands region
$
312,855
$
1,154,429
$
731,145
$
352,442
$
320,785
$
207,164
$
319,425
$
3,398,245
$
3,317,489
Charge-offs on total consumer loans
$
33
$
5,413
$
3,082
$
1,017
$
1,823
$
1,127
$
4,148
$
16,643
(1)
Excludes accrued interest receivable.
As of March 31,
 
2023
As of
December 31,
2022
Term Loans
Amortized Cost Basis by Origination Year
(1)
2023
2022
2021
2020
2019
Prior
Revolving
Loans
Amortized
Cost Basis
Total
Total
(In thousands)
Florida Region:
Auto loans:
Accrual Status:
Performing
$
-
$
-
$
-
$
-
$
259
$
2,518
$
-
$
2,777
$
3,617
Non-Performing
-
-
-
-
-
22
-
22
76
Total auto loans
$
-
$
-
$
-
$
-
$
259
$
2,540
$
-
$
2,799
$
3,693
Charge-offs on auto loans
$
-
$
-
$
-
$
-
$
8
$
147
$
-
$
155
Finance leases:
Accrual Status:
Performing
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
Non-Performing
-
-
-
-
-
-
-
-
-
Total finance leases
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
Charge-offs on finance leases
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
Personal loans:
Accrual Status:
Performing
$
274
$
8
$
71
$
7
$
-
$
-
$
-
$
360
$
334
Non-Performing
-
-
-
-
-
-
-
-
-
Total personal loans
$
274
$
8
$
71
$
7
$
-
$
-
$
-
$
360
$
334
Charge-offs on personal loans
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
Credit cards:
Accrual Status:
Performing
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
Non-Performing
-
-
-
-
-
-
-
-
-
Total credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
Charge-offs on credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
Other consumer loans:
Accrual Status:
Performing
$
-
$
49
$
229
$
460
$
-
$
2,455
$
2,223
$
5,416
$
5,833
Non-Performing
-
-
-
-
-
21
104
125
119
Total other consumer loans
$
-
$
49
$
229
$
460
$
-
$
2,476
$
2,327
$
5,541
$
5,952
Charge-offs on other consumer loans
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
Total:
Performing
$
274
$
57
$
300
$
467
$
259
$
4,973
$
2,223
$
8,553
$
9,784
Non-Performing
-
-
-
-
-
43
104
147
195
Total consumer loans in Florida region
$
274
$
57
$
300
$
467
$
259
$
5,016
$
2,327
$
8,700
$
9,979
Charge-offs on total consumer loans
$
-
$
-
$
-
$
-
$
8
$
147
$
-
$
155
(1)
Excludes accrued interest receivable.
As of March 31,
 
2023
As of
December 31,
2022
Term Loans
Amortized Cost Basis by Origination Year
(1)
2023
2022
2021
2020
2019
Prior
Revolving
Loans
Amortized
Cost Basis
Total
Total
(In thousands)
Total:
Auto loans:
Accrual Status:
Performing
$
165,925
$
638,402
$
478,373
$
234,358
$
186,590
$
118,079
$
-
$
1,821,727
$
1,787,399
Non-Performing
-
2,419
2,243
1,347
2,708
2,421
-
11,138
10,672
Total auto loans
$
165,925
$
640,821
$
480,616
$
235,705
$
189,298
$
120,500
$
-
$
1,832,865
$
1,798,071
Charge-offs on auto loans
$
19
$
1,827
$
1,210
$
467
$
640
$
512
$
-
$
4,675
Finance leases:
Accrual Status:
Performing
$
78,870
$
282,486
$
183,061
$
82,206
$
74,421
$
52,230
$
-
$
753,274
$
716,585
Non-Performing
-
551
222
433
376
626
-
2,208
1,645
Total finance leases
$
78,870
$
283,037
$
183,283
$
82,639
$
74,797
$
52,856
$
-
$
755,482
$
718,230
Charge-offs on finance leases
$
-
$
227
$
270
$
97
$
185
$
200
$
-
$
979
Personal loans:
Accrual Status:
Performing
$
44,921
$
163,319
$
49,346
$
25,710
$
46,765
$
29,411
$
-
$
359,472
$
351,998
Non-Performing
-
490
188
117
229
239
-
1,263
1,248
Total personal loans
$
44,921
$
163,809
$
49,534
$
25,827
$
46,994
$
29,650
$
-
$
360,735
$
353,246
Charge-offs on personal loans
$
-
$
1,517
$
840
$
279
$
680
$
384
$
-
$
3,700
Credit cards:
Accrual Status:
Performing
$
-
$
-
$
-
$
-
$
-
$
-
$
310,627
$
310,627
$
311,731
Non-Performing
-
-
-
-
-
-
-
-
-
Total credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
310,627
$
310,627
$
311,731
Charge-offs on credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
4,057
$
4,057
Other consumer loans:
Accrual Status:
Performing
$
23,413
$
66,279
$
17,841
$
8,679
$
9,851
$
8,923
$
10,923
$
145,909
$
144,949
Non-Performing
-
540
171
59
104
251
202
1,327
1,241
Total other consumer loans
$
23,413
$
66,819
$
18,012
$
8,738
$
9,955
$
9,174
$
11,125
$
147,236
$
146,190
Charge-offs on other consumer loans
$
14
$
1,842
$
762
$
174
$
326
$
178
$
91
$
3,387
Total:
Performing
$
313,129
$
1,150,486
$
728,621
$
350,953
$
317,627
$
208,643
$
321,550
$
3,391,009
$
3,312,662
Non-Performing
-
4,000
2,824
1,956
3,417
3,537
202
15,936
14,806
Total consumer loans
$
313,129
$
1,154,486
$
731,445
$
352,909
$
321,044
$
212,180
$
321,752
$
3,406,945
$
3,327,468
Charge-offs on total consumer loans
$
33
$
5,413
$
3,082
$
1,017
$
1,831
$
1,274
$
4,148
$
16,798
(1)
Excludes accrued interest receivable.
As of December 31, 2022
Collateral Dependent Loans -
With Allowance
Collateral Dependent
Loans - With No
Related Allowance
Collateral Dependent Loans - Total
Amortized Cost
 
Related
Allowance
Amortized Cost
 
Amortized Cost
 
Related
Allowance
(In thousands)
Residential mortgage loans:
Conventional residential mortgage loans
$
36,206
$
2,571
$
-
$
36,206
$
2,571
Commercial loans:
Construction loans
-
-
956
956
-
Commercial mortgage loans
2,466
897
62,453
64,919
897
C&I loans
 
1,513
322
17,590
19,103
322
Consumer loans:
Personal loans
56
1
64
120
1
Other consumer loans
207
29
-
207
29
$
40,448
$
3,820
$
81,063
$
121,511
$
3,820
The Corporation’s
 
aging of
 
the loan
 
portfolio held
 
for investment,
 
as well
 
as information
 
about nonaccrual
 
loans with
 
no ACL,
 
by
portfolio classes as of March 31, 2023 and December 31, 2022 are as follows:
The following
 
tables present the
 
amortized cost of
 
residential mortgage
 
loans by portfolio
 
classes and by
 
origination year
 
based on
accrual status as of March 31, 2023,
 
the gross charge-offs for the quarter
 
ended March 31, 2023 by portfolio classes and by origination
year, and the amortized cost of residential mortgage
 
loans by portfolio classes based on accrual status as of December 31, 2022:
The
 
following
 
tables present
 
the
 
amortized
 
cost
 
of
 
consumer
 
loans
 
by
 
portfolio
 
classes
 
and
 
by origination
 
year
 
based on
 
accrual
status as
 
of March
 
31, 2023,
 
the gross
 
charge-offs
 
for the
 
quarter ended
 
March 31,
 
2023 by
 
portfolio classes
 
and by
 
origination, and
the amortized cost of consumer loans by portfolio classes based on accrual status as of
 
December 31, 2022:
The following table presents the amortized cost basis as of March 31, 2023 of loans modified
 
to borrowers experiencing financial
difficulty during the quarter ended March 31, 2023, by portfolio
 
classes and type of modification granted, and the percentage of these
modified loans relative to the total period-end amortized cost basis of receivables
 
in the portfolio class:
Quarter Ended March 31,
 
2023
Payment Delay Only
Forbearance
Payment
Plan
Trial
Modification
Interest
Rate
Reduction
Term
Extension
Combination of
Interest Rate
Reduction and
Term Extension
Forgiveness
of principal
and/or
interest
Other
Total
Percentage of
Total by
Portfolio
Classes
(In thousands)
Conventional residential mortgage loans
$
-
$
-
$
332
$
-
$
433
$
115
$
-
$
-
$
880
0.03%
Construction loans
-
-
-
-
-
-
-
-
-
-
Commercial mortgage loans
-
-
-
-
-
-
-
-
-
-
C&I loans
-
-
-
-
-
-
-
40
(1)
40
0.00%
Consumer loans:
Auto loans
-
-
-
-
89
38
-
584
(1)
711
0.04%
Personal loans
-
-
-
-
28
14
-
-
42
0.01%
Credit cards
-
-
-
289
(2)
-
-
-
-
289
0.09%
Other consumer loans
-
-
-
-
132
60
-
26
(1)
218
0.15%
 
Total modifications
$
-
$
-
$
332
$
289
$
682
$
227
$
-
$
650
$
2,180
(1)
Modification consists of court mandated reduction to 0% interest rate for remaining loan term to borrowers in bankruptcy proceedings unless dismissal occurs.
(2)
Modification consists of reduction in interest rate and revocation of revolving line privileges.
Quarter Ended March 31,
 
2022
Interest rate
below market
Maturity or
term extension
Combination of
reduction in
interest rate and
extension of
maturity
Forgiveness of
principal and/or
interest
Other
(1)
Total
(In thousands)
Conventional residential mortgage loans
$
215
$
731
$
190
$
-
$
1,857
$
2,993
Construction loans
-
-
-
-
-
-
Commercial mortgage loans
-
-
-
-
-
-
C&I loans
-
-
-
-
5
5
Consumer loans:
Auto loans
792
54
147
-
-
993
Finance leases
-
246
-
-
18
264
Personal loans
-
60
18
-
-
78
Credit cards
(2)
189
-
-
-
-
189
Other consumer loans
33
106
-
9
-
148
Total TDRs
$
1,229
$
1,197
$
355
$
9
$
1,880
$
4,670
(1)
Other concessions granted by the Corporation include payment
 
plans under judicial stipulation or loss mitigation programs, or
 
a combination of two or more of the concessions listed
 
in
the table. Amounts included in Other that represent a combination
 
of concessions are excluded from the amounts reported in
 
the column for such individual concessions.
(2)
Concession consists of reduction in interest rate and revocation
 
of revolving line privileges.
The following table presents the financial effects of the modifications
 
granted to borrowers experiencing financial difficulty
during the quarter ended March 31, 2023, by portfolio classes, other
 
than those associated to payment delay.
 
The qualitative financial
effects of the modifications associated to payment delay were discussed
 
above, and as such, were excluded from the table below:
Quarter Ended March 31, 2023
Combination of Interest Rate Reduction
and Term Extension
Weighted-Average
Interest Rate
Reduction (%)
Weighted-Average
Term Extension (in
months)
Weighted-Average
Interest Rate
Reduction (%)
Weighted-Average
Term Extension (in
months)
Weighted-Average
Forgiveness of
Principal and/or
Interest
(In thousands)
Conventional residential mortgage loans
-
98
2.11%
141
$
-
Construction loans
-
-
-
-
-
Commercial mortgage loans
-
-
-
-
-
C&I loans
-
-
-
-
-
Consumer loans:
Auto loans
-
22
2.88%
28
-
Personal loans
-
30
3.36%
12
-
Credit cards
16.04%
-
-
-
-
Other consumer loans
-
27
1.96%
26
-
The following table presents the performance of loans modified during the quarter
 
ended March 31,
 
2023 that were granted to
borrowers experiencing financial difficulty,
 
by portfolio classes:
Quarter Ended March 31,
 
2023
30-59
60-89
90+
Total
Delinquency
Current
Total
(In thousands)
Conventional residential mortgage loans
$
-
$
-
$
-
$
-
$
880
$
880
Construction loans
-
-
-
-
-
-
Commercial mortgage loans
-
-
-
-
-
-
C&I loans
-
-
-
-
40
40
Consumer loans:
Auto loans
44
138
-
182
529
711
Personal loans
-
-
-
-
42
42
Credit cards
103
89
-
192
97
289
Other consumer loans
-
-
-
-
218
218
 
Total modifications
$
147
$
227
$
-
$
374
$
1,806
$
2,180
Troubled Debt
 
Restructuring (“TDR”) Disclosures Prior to Adoption
 
of ASU 2022-02
Prior
 
to
 
the
 
adoption
 
of
 
ASU
 
2022-02,
 
a
 
restructuring
 
of
 
a
 
loan
 
constituted
 
a
 
TDR
 
if
 
the
 
creditor,
 
for
 
economic
 
or
 
legal
 
reason
related
 
to the
 
borrower’s
 
financial difficulties,
 
grants a
 
concession to
 
the borrower
 
that it
 
would not
 
otherwise consider.
 
See Note
 
1
“Nature of
 
Business and
 
Summary of
 
Significant Accounting
 
Policies” and
 
Note 4
 
“Loans Held
 
for Investment”
 
to the
 
Consolidated
Financial Statements
 
in the 2022
 
Annual Report
 
on Form
 
10-K for
 
additional discussion
 
of TDRs. The
 
following tables
 
present TDR
loans completed during the quarter ended March 31, 2022:
There
 
were
 
no
 
loans
 
modified
 
to
 
borrowers
 
experiencing
 
financial
 
difficulty
 
on
 
or
 
after
 
January
 
1,
 
2023,
 
which
 
had
 
a
 
payment
default
 
(failure
 
by
 
the
 
borrower
 
to
 
make
 
payments
 
of
 
either principal,
 
interest,
 
or both
 
for
 
a
 
period
 
of
 
90 days
 
or more)
 
during
 
the
quarter ended March 31, 2023.
v3.23.1
ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LEASES
 3 Months Ended
Mar. 31, 2023
ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LEASES [Abstract]  
ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LEASES
NOTE 4 – ALLOWANCE
 
FOR CREDIT LOSSES FOR LOANS AND FINANCE LEASES
The following tables present 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
Quarter Ended March 31, 2023
(In thousands)
ACL:
Beginning balance
$
62,760
$
2,308
$
35,064
$
32,906
$
127,426
$
260,464
Impact of adoption of ASU 2022-02
2,056
-
-
7
53
2,116
Provision for credit losses - expense (benefit)
73
860
1,246
(1,650)
15,727
16,256
Charge-offs
 
(983)
-
(18)
(118)
(16,798)
(17,917)
Recoveries
497
63
168
90
3,830
4,648
Ending balance
$
64,403
$
3,231
$
36,460
$
31,235
$
130,238
$
265,567
Residential Mortgage
Loans
Construction
Loans
Commercial
Mortgage
Commercial &
Industrial Loans
Consumer Loans
Total
Quarter Ended March 31,
 
2022
(In thousands)
ACL:
Beginning balance
$
74,837
$
4,048
$
52,771
$
34,284
$
103,090
$
269,030
Provision for credit losses - (benefit) expense
(4,871)
(2,214)
(22,640)
1,755
10,981
(16,989)
Charge-offs
 
(2,528)
(44)
(37)
(290)
(9,816)
(12,715)
Recoveries
1,382
52
44
1,035
3,608
6,121
Ending balance
$
68,820
$
1,842
$
30,138
$
36,784
$
107,863
$
245,447
The
 
Corporation
 
estimates
 
the
 
ACL
 
following
 
the
 
methodologies
 
described
 
in
 
Note
 
1
 
–
 
Nature
 
of
 
Business
 
and
 
Summary
 
of
Significant Accounting
 
Policies, to
 
the audited
 
consolidated financial
 
statements included
 
in the
 
2022 Annual
 
Report on
 
Form 10-K,
for each portfolio segment.
The Corporation applie
 
s
 
probability weights to
 
the baseline and
 
alternative downside economic
 
scenarios
 
to estimate the ACL
 
with
the
 
baseline
 
scenario
 
carrying
 
the
 
highest
 
weight.
 
The
 
economic
 
scenarios
 
used
 
in
 
the
 
ACL
 
determination
 
contained
 
assumptions
related
 
to economic
 
uncertainties associated
 
with geopolitical
 
instability,
 
high
 
inflation levels,
 
and
 
the expected
 
path
 
of interest
 
rate
increases by the FED.
 
As of March 31, 2023, the ACL for loans and finance leases was $
265.6
 
million, an increase of $
5.1
 
million, from $
260.5
 
million as
of
 
December
 
31,
 
2022.
 
The
 
ACL
 
for
 
commercial
 
and
 
construction
 
loans
 
remained
 
relatively
 
flat
 
when
 
compared
 
to
 
the
 
previous
quarter as a result of
 
the following offsetting factors:
 
reserve increases of $
5.0
 
million for a new nonaccrual
 
commercial and industrial
loan in the Florida region in the power generation industry; and $
1.1
 
million due to a less favorable economic outlook in the projection
of certain forecasted
 
macroeconomic variables, such
 
as the commercial
 
real estate price index
 
(“CRE price index”);
 
partially offset by
reserve decreases
 
of $
6.1
 
million associated
 
with the receipt
 
of updated
 
financial information
 
of certain borrowers
 
and the repayment
of a $
24.3
 
million adversely classified
 
commercial and industrial
 
participated loan in
 
the Florida region.
 
The ACL for consumer
 
loans
increased by $
2.9
 
million, primarily reflecting
 
the effect of
 
the increase in
 
the size of the
 
consumer loan
 
portfolios and the
 
increase in
historical charge-off levels. The ACL for
 
residential mortgage loans increased by $
1.6
 
million, in part due to a $
2.1
 
million cumulative
increase in
 
the ACL,
 
due to
 
the adoption
 
of ASU
 
2022-02, for
 
which the
 
Corporation elected
 
to discontinue
 
the use
 
of a
 
discounted
cash
 
flow
 
methodology
 
for
 
restructured
 
accruing
 
loans.
 
This
 
adjustment
 
had
 
a
 
corresponding
 
decrease,
 
net
 
of
 
applicable
 
taxes,
 
in
beginning
 
retained
 
earnings
 
as
 
of
 
January
 
1,
 
2023.
 
See
 
Note
 
1
–
 
Basis
 
of
 
Presentation
 
and
 
Significant
 
Accounting
 
Policies
 
for
information related to the adoption of ASU 2022-02 during the first quarter
 
of 2023.
Total
 
net charge-offs
 
increased by $
6.7
 
million to $
13.3
 
million during the first
 
quarter of 2023, when
 
compared to the same
 
period
in 2022. The variance consisted of a $
6.8
 
million increase in net charge-offs on
 
consumer and finance leases, reflected across all major
portfolio classes, and
 
a $
0.6
 
million decrease in net
 
recoveries in the commercial
 
and construction loan portfolios,
 
partially offset by
 
a
$
0.7
 
million decrease in net charge-offs on residential mortgage
 
loans.
The tables below
 
present the ACL
 
related to loans
 
and finance leases
 
and the carrying
 
values of loans
 
by portfolio segment
 
as of
March 31,
 
2023 and December 31, 2022:
As of March 31,
 
2023
Residential Mortgage
Loans
Construction
Loans
Commercial Mortgage
Loans
Commercial and
Industrial Loans
Consumer Loans
Total
(Dollars in thousands)
Total loans held for investment:
 
Amortized cost of loans
$
2,811,528
$
143,664
$
2,353,659
$
2,862,189
$
3,406,945
$
11,577,985
 
Allowance for credit losses
64,403
3,231
36,460
31,235
130,238
265,567
 
Allowance for credit losses to
 
amortized cost
2.29
%
2.25
%
1.55
%
1.09
%
3.82
%
2.29
%
As of December 31, 2022
Residential Mortgage
Loans
Construction
Loans
Commercial Mortgage
Loans
Commercial and
Industrial Loans
Consumer Loans
Total
(Dollars in thousands)
Total loans held for investment:
 
Amortized cost of loans
$
2,847,290
$
132,953
$
2,358,851
$
2,886,263
$
3,327,468
$
11,552,825
 
Allowance for credit losses
62,760
2,308
35,064
32,906
127,426
260,464
 
Allowance for credit losses to
 
amortized cost
2.20
%
1.74
%
1.49
%
1.14
%
3.83
%
2.25
%
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.
 
See Note 22 –
 
Regulatory
Matters,
 
Commitments,
 
and Contingencies
 
for
 
information
 
on off
 
-balance
 
sheet exposures
 
as of
 
March 31,
 
2023 and
 
December
 
31,
2022.
 
The
 
Corporation
 
estimates
 
the
 
ACL
 
for
 
these
 
off-balance
 
sheet
 
exposures
 
following
 
the
 
methodology
 
described
 
in
 
Note
 
1
 
–
Nature of Business and Summary of Accounting Policies,
 
to the audited consolidated financial statements included in the
 
2022 Annual
Report
 
on Form
 
10-K.
 
As of
 
March
 
31, 2023,
 
the ACL
 
for off-balance
 
sheet
 
credit exposures
 
decreased
 
to $
4.2
 
million,
 
from
 
$
4.3
million as of December 31, 2022.
The following
 
table presents
 
the activity
 
in the
 
ACL for
 
unfunded loan
 
commitments and
 
standby letters
 
of credit
 
for the
 
quarters
ended March 31, 2023 and 2022:
Quarter Ended March 31,
 
2023
2022
(In thousands)
Beginning Balance
$
4,273
$
1,537
Provision for credit losses - (benefit)
(105)
(178)
 
Ending balance
$
4,168
$
1,359
v3.23.1
OTHER REAL ESTATE OWNED
 3 Months Ended
Mar. 31, 2023
OTHER REAL ESTATE OWNED [Abstract]  
OTHER REAL ESTATE OWNED
NOTE 5
–
OTHER REAL ESTATE
 
OWNED
The following table presents the OREO inventory as of the indicated dates:
March 31, 2023
December 31, 2022
(In thousands)
OREO balances, carrying value:
Residential
(1)
$
24,984
$
24,025
Commercial
6,114
5,852
Construction
1,764
1,764
Total
$
32,862
$
31,641
(1)
Excludes $
22.6
 
million and $
23.5
 
million as of March 31,
 
2023 and December 31,
 
2022, respectively,
 
of foreclosures that met
 
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.
See Note 18
 
- Fair Value
 
for information
 
on write-downs
 
recorded on OREO
 
properties during
 
the quarters ended
 
March 31, 2023
and 2022.
v3.23.1
GOODWILL AND OTHER INTANGIBLES
 3 Months Ended
Mar. 31, 2023
GOODWILL AND OTHER INTANGIBLES [Abstract]  
GOODWILL AND OTHER INTANGIBLES
NOTE 6 – GOODWILL AND OTHER INTANGIBLES
 
 
Goodwill
Goodwill as
 
of each
 
of March
 
31, 2023
 
and December
 
31, 2022
 
amounted to
 
$
38.6
 
million.
The Corporation’s policy is to assess
goodwill and other intangibles for impairment on an annual basis during the fourth quarter of each year, and more frequently if events
or circumstances lead management to believe that the values of goodwill or other intangibles may be impaired. During the fourth
quarter of 2022, management performed a qualitative analysis over the carrying amount of each relevant reporting units’ goodwill and
concluded that it is more-likely-than-not that the fair value of the reporting units exceeded their carrying value. This assessment
involved identifying the inputs and assumptions that most affect fair value, including evaluating significant and relevant events
impacting each reporting entity, and evaluating such factors to determine if a positive assertion can be made that it is more-likely-
than-not that the fair value of the reporting units exceeded their carrying amount. As of December 31, 2022, the Corporation
concluded that it is more-likely-than-not that the fair value of the reporting units exceeded their carrying value. The Corporation
determined that there have been no significant events since the last annual assessment that could indicate potential goodwill
impairment on reporting units for which the goodwill is allocated. As a result, no impairment charges for goodwill were recorded
during the quarter ended March 31, 2023.
There were
no
 
changes in the carrying amount of goodwill during the quarter ended March
 
31, 2022.
Other Intangible Assets
The
 
following
 
table
 
presents
 
the
 
gross
 
amount
 
and
 
accumulated
 
amortization
 
of
 
the
 
Corporation’s
 
intangible
 
assets
 
subject
 
to
amortization as of the indicated dates:
As of
As of
March 31,
 
December 31,
2023
 
2022
 
(Dollars in thousands)
Core deposit intangible:
Gross amount
$
87,544
$
87,544
Accumulated amortization
(68,557)
(66,644)
Net carrying amount
$
18,987
$
20,900
Remaining amortization period (in years)
6.8
7.0
Purchased credit card relationship intangible:
Gross amount
$
3,800
$
3,800
Accumulated amortization
(3,714)
(3,595)
Net carrying amount
$
86
$
205
Remaining amortization period (in years)
0.4
0.7
Insurance customer relationship intangible:
Gross amount
$
-
$
1,067
Accumulated amortization
-
(1,054)
Net carrying amount
$
-
$
13
Remaining amortization period (in years)
-
0.1
During
 
the
 
quarters
 
ended
 
March
 
31,
 
2023
 
and
 
2022,
 
the
 
Corporation
 
recognized
 
$
2.0
 
million
 
and
 
$
2.3
 
million,
 
respectively,
 
in
amortization expense on its other intangibles subject to amortization.
 
The Corporation amortizes core deposit intangibles and customer relationship intangible 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 the customer relationship intangible. The Corporation analyzes core deposit intangibles and the customer relationship intangible
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 the customer relationship intangible as of March 31, 2023.
The estimated
 
aggregate annual
 
amortization expense
 
related to the
 
intangible assets
 
subject to amortization
 
for future periods
 
was
as follows as of March 31, 2023:
(In thousands)
2023
$
5,691
2024
6,416
2025
3,509
2026
872
2027
872
2028 and after
1,713
v3.23.1
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS
 3 Months Ended
Mar. 31, 2023
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS [Abstract]  
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS
NOTE 7 – NON-CONSOLIDATED
 
VARIABLE
 
INTEREST ENTITIES (“VIEs”) 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 (“TRuPs”)
In April 2004,
 
FBP Statutory Trust
 
I, a financing
 
trust that is wholly
 
owned by the
 
Corporation, sold to
 
institutional investors $
100
million of its variable
 
-rate TRuPs. FBP Statutory
 
Trust I used
 
the proceeds of the
 
issuance, together with the
 
proceeds of the purchase
by
 
the
 
Corporation
 
of
 
$
3.1
 
million
 
of
 
FBP
 
Statutory
 
Trust
 
I
 
variable-rate
 
common
 
securities, to
 
purchase
 
$
103.1
 
million
 
aggregate
principal
 
amount
 
of
 
the
 
Corporation’s
 
Junior
 
Subordinated
 
Deferrable
 
Debentures.
 
In
 
September
 
2004,
 
FBP
 
Statutory
 
Trust
 
II,
 
a
financing
 
trust that
 
is wholly
 
owned by
 
the Corporation,
 
sold to
 
institutional investors
 
$
125
 
million of
 
its variable-rate
 
TRuPs. FBP
Statutory Trust
 
II used
 
the proceeds of
 
the issuance,
 
together with
 
the proceeds of
 
the purchase by
 
the Corporation
 
of $
3.9
 
million of
FBP Statutory
 
Trust
 
II variable-rate
 
common securities,
 
to purchase
 
$
128.9
 
million aggregate
 
principal amount
 
of the
 
Corporation’s
Junior
 
Subordinated
 
Deferrable
 
Debentures.
 
The
 
debentures,
 
net
 
of
 
related
 
issuance
 
costs,
 
are
 
presented
 
in
 
the
 
Corporation’s
consolidated
 
statements
 
of financial
 
condition as
 
other long-term
 
borrowings. The
 
variable-rate TRuPs
 
are fully
 
and unconditionally
guaranteed
 
by the
 
Corporation.
The Junior Subordinated Deferrable Debentures mature on June 17, 2034, and September 20, 2034,
respectively; however, under certain circumstances, the maturity of Junior Subordinated Deferrable Debentures may be shortened
(such shortening would result in a mandatory redemption of the variable-rate TRuPs).
 
As of
 
each of
 
March 31,
 
2023 and
 
December
31, 2022, these Junior Subordinated Deferrable Debentures amounted
 
to $
183.8
 
million.
 
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
 
March
 
31,
 
2023,
 
the
Corporation was current on all interest payments due on its subordinated
 
debt.
Private Label MBS
During
 
2004
 
and
 
2005,
 
an unaffiliated
 
party,
 
referred
 
to in
 
this subsection
 
as the
 
seller,
 
established
 
a
 
series of
 
statutory
 
trusts
 
to
effect
 
the
 
securitization
 
of
 
mortgage
 
loans
 
and
 
the
 
sale
 
of
 
trust
 
certificates
 
(“private
 
label
 
MBS”).
 
The
 
seller
 
initially
 
provided
 
the
servicing for
 
a fee, which
 
is senior to
 
the obligations to
 
pay private label
 
MBS holders. The
 
seller then entered
 
into a sales
 
agreement
through
 
which
 
it sold
 
and
 
issued
 
the
 
private
 
label
 
MBS in
 
favor
 
of
 
the
 
Corporation’s
 
banking
 
subsidiary,
 
FirstBank.
 
Currently,
 
the
Bank is
 
the sole
 
owner of
 
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
3-month LIBOR
 
plus a spread.
 
As mentioned above
 
in Note 2,
 
Debt Securities, pursuant
 
to the provisions
 
of the
LIBOR Act and
 
Regulation ZZ, the
 
LIBOR reference of
 
these private label
 
MBS shall be
 
replaced by
 
the 3-month CME
 
Term
 
SOFR
rate
 
plus
 
a
 
spread
 
adjustment
 
of
 
0.26161%
 
on the
 
first
 
reset
 
date
 
after
 
USD LIBOR
 
ceases publication
 
in
 
June 2023.
 
The
 
principal
payments from
 
the underlying loans
 
are remitted to
 
a paying agent
 
(servicer), who then
 
remits interest to
 
the Bank. Interest
 
income is
shared to
 
a certain
 
extent with
 
the FDIC,
 
which has
 
an interest
 
only strip
 
(“IO”) tied
 
to the
 
cash flows
 
of the
 
underlying loans
 
and is
entitled
 
to
 
receive
 
the
 
excess
 
of
 
the
 
interest
 
income
 
less
 
a
 
servicing
 
fee
 
over
 
the
 
variable
 
rate
 
income
 
that
 
the
 
Bank
 
earns
 
on
 
the
securities. This
 
IO is
 
limited to
 
the weighted-average
 
coupon on
 
the mortgage
 
loans. The
 
FDIC became
 
the owner
 
of the IO
 
upon its
intervention of the seller,
 
a failed financial institution.
 
No recourse agreement exists, and
 
the Bank, as the sole
 
holder of the securities,
absorbs all risks from losses on non-accruing loans and
 
repossessed collateral. As of March 31, 2023, the amortized
 
cost and fair value
of these private
 
label MBS amounted
 
to $
7.7
 
million and $
5.4
 
million, respectively,
 
with a weighted average
 
yield of
7.25
%, which is
included as part of
 
the Corporation’s
 
available-for-sale debt securities portfolio.
 
As described in Note 2
 
– Debt Securities, the ACL on
these private label MBS amounted to $
0.1
 
million as of March 31, 2023.
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
 
March 31,
 
2023, the
 
Corporation serviced
loans
 
securitized
 
through
 
GNMA
 
with
 
a
 
principal
 
balance
 
of
 
$
2.1
 
billion.
 
Also,
 
certain
 
conventional
 
conforming
 
loans
 
are
 
sold
 
to
FNMA
 
or
 
FHLMC
 
with
 
servicing
 
retained.
 
The
 
Corporation
 
recognizes
 
as
 
separate
 
assets
 
the
 
rights
 
to
 
service
 
loans
 
for
 
others,
whether those servicing
 
assets are originated or
 
purchased. MSRs are included
 
as part of other
 
assets in the consolidated
 
statements of
financial condition.
The changes in MSRs are shown below for the indicated periods:
Quarter Ended March 31,
 
2023
2022
(In thousands)
Balance at beginning of year
$
29,037
$
30,986
Capitalization of servicing assets
532
1,130
Amortization
(1,128)
(1,330)
Temporary impairment
 
recoveries
4
55
Other
(1)
(14)
(88)
Balance at end of period
$
28,431
$
30,753
(1)
Mainly represents adjustments related to the repurchase
 
of loans serviced for others.
Impairment
 
charges
 
are
 
recognized
 
through
 
a
 
valuation
 
allowance
 
for
 
each
 
individual
 
stratum
 
of
 
servicing
 
assets.
 
The
 
valuation
allowance
 
is adjusted
 
to reflect
 
the amount,
 
if any,
 
by which
 
the cost
 
basis of
 
the servicing
 
asset for
 
a given
 
stratum of
 
loans being
serviced exceeds its fair value. Any fair value in excess of the cost basis of the servicing
 
asset for a given stratum is not recognized.
 
Changes in the impairment allowance were as follows for the indicated periods:
Quarter Ended March 31,
2023
2022
(In thousands)
Balance at beginning of year
$
12
$
78
Recoveries
(4)
(55)
 
Balance at end of period
$
8
$
23
The components
 
of net servicing
 
income, included as
 
part of mortgage
 
banking activities in
 
the consolidated statements
 
of income,
are shown below for the indicated periods:
Quarter Ended March 31,
2023
2022
(In thousands)
Servicing fees
$
2,718
$
2,819
Late charges and prepayment penalties
199
194
Adjustment for loans repurchased
(14)
(88)
 
Servicing income, gross
2,903
2,925
Amortization and impairment of servicing assets
(1,124)
(1,275)
 
Servicing income, net
$
1,779
$
1,650
The Corporation’s
 
MSRs are subject
 
to prepayment
 
and interest rate
 
risks. Key economic
 
assumptions used
 
in determining
 
the fair
value at the time of sale of the related mortgages for the indicated periods
 
ranged as follows:
Weighted Average
Maximum
Minimum
Quarter Ended March 31, 2023
Constant prepayment rate:
 
 
Government-guaranteed mortgage loans
6.7
%
11.6
%
4.8
%
 
Conventional conforming mortgage loans
7.7
%
16.0
%
3.8
%
 
Conventional non-conforming mortgage loans
5.7
%
7.0
%
2.1
%
Discount rate:
 
Government-guaranteed mortgage loans
11.5
%
11.5
%
11.5
%
 
Conventional conforming mortgage loans
9.5
%
9.5
%
9.5
%
 
Conventional non-conforming mortgage loans
12.8
%
14.0
%
11.5
%
Quarter Ended March 31, 2022
Constant prepayment rate:
 
 
Government-guaranteed mortgage loans
6.7
%
18.3
%
4.8
%
 
Conventional conforming mortgage loans
6.6
%
18.4
%
3.4
%
 
Conventional non-conforming mortgage loans
6.6
%
21.9
%
4.9
%
Discount rate:
 
Government-guaranteed mortgage loans
12.0
%
12.0
%
12.0
%
 
Conventional conforming mortgage loans
10.0
%
10.0
%
10.0
%
 
Conventional non-conforming mortgage loans
12.3
%
14.5
%
12.0
%
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
 
March
 
31,
 
2023
 
and
December 31, 2022 were as follows:
March 31,
 
December 31,
2023
2022
(In thousands)
Carrying amount of servicing assets
$
28,431
$
29,037
Fair value
$
45,270
$
44,710
Weighted-average
 
expected life (in years)
7.80
7.80
Constant prepayment rate (weighted-average annual
 
rate)
6.34
%
6.40
%
 
Decrease in fair value due to 10% adverse change
$
1,040
$
1,048
 
Decrease in fair value due to 20% adverse change
$
2,036
$
2,054
Discount rate (weighted-average annual rate)
10.70
%
10.69
%
 
Decrease in fair value due to 10% adverse change
$
1,960
$
1,925
 
Decrease in fair value due to 20% adverse change
$
3,770
$
3,704
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
.
v3.23.1
DEPOSITS
 3 Months Ended
Mar. 31, 2023
DEPOSITS [Abstract]  
DEPOSITS
NOTE 8 – DEPOSITS
The following table summarizes deposit balances as of the indicated dates:
March 31, 2023
December 31, 2022
(In thousands)
Type of account and interest rate:
Non-interest-bearing deposit accounts
$
6,024,304
$
6,112,884
Interest-bearing saving accounts
3,808,182
3,902,888
Interest-bearing checking accounts
3,547,963
3,770,993
Certificates of deposit (“CDs”)
2,418,611
2,250,876
Brokered CDs
252,905
105,826
 
Total
$
16,051,965
$
16,143,467
The following table presents the contractual maturities of CDs, including brokered CDs, as of March 31,
 
2023:
Total
 
(In thousands)
Three months or less
$
499,307
Over three months to six months
361,274
Over six months to one year
732,933
Over one year to two years
 
751,913
Over two years to three years
 
155,590
Over three years to four years
 
46,748
Over four years to five years
 
117,009
Over five years
6,742
 
Total
$
2,671,516
The following were the components of interest expense on deposits for the
 
indicated periods:
Quarter Ended March 31,
2023
2022
(In thousands)
Interest expense on deposits
$
29,924
$
7,817
Accretion of premiums from acquisitions
(83)
(200)
Amortization of broker placement fees
44
35
 
Total
$
29,885
$
7,652
Total
 
U.S. time
 
deposits with
 
balances of
 
more than
 
$250,000 amounted
 
to $
1.1
 
billion and
 
$
1.0
 
billion as
 
of March
 
31, 2023
 
and
December 31,
 
2022, respectively.
 
This amount does
 
not include brokered
 
CDs that are
 
generally participated
 
out by brokers
 
in shares
of less than the FDIC
 
insurance limit. As of March
 
31, 2023 and December
 
31, 2022, unamortized broker
 
placement fees amounted to
$
0.4
 
million and
 
$
0.3
 
million, respectively,
 
which are
 
amortized over
 
the contractual
 
maturity of
 
the brokered
 
CDs under
 
the interest
method.
v3.23.1
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (REPURCHASE AGREEMENTS)
 3 Months Ended
Mar. 31, 2023
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (REPURCHASE AGREEMENTS)[Abstract]  
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (REPURCHASE AGREEMENTS)
NOTE 9 – SECURITIES SOLD UNDER AGREEMENTS TO
 
REPURCHASE (REPURCHASE AGREEMENTS)
 
Repurchase agreements as of the indicated dates consisted of the following:
March 31, 2023
December 31, 2022
(In thousands)
Short-term Fixed-rate repurchase agreements
(1)
$
172,982
$
75,133
(1)
Weighted-average interest rate
 
of
5.08
% and
4.55
% as of March 31, 2023 and December 31, 2022.
The $
75.1
 
million in repurchase
 
agreements outstanding
 
as of December
 
31, 2022 matured
 
and were repaid
 
during the first
 
quarter
of
 
2023.
 
In
 
addition,
 
the
 
Corporation
 
added
 
$
173.0
 
million
 
in
 
short-term
 
repurchase
 
agreements
 
reflecting
 
precautionary
 
measures
taken by management in light of recent instability in the banking sector.
Repurchase agreements mature as follows as of the indicated date:
March 31,
 
2023
(In thousands)
Within one month
$
172,982
As of March
 
31, 2023 and
 
December 31, 2022,
 
the securities underlying
 
such agreements were
 
delivered to the
 
dealers with which
the repurchase
 
agreements were transacted.
 
In accordance with
 
the master agreements,
 
in the
 
event of
 
default, repurchase agreements
have a right
 
of set-off
 
against the other
 
party for amounts owed
 
under the related
 
agreement and any
 
other amount or
 
obligation owed
with
 
respect
 
to
 
any
 
other
 
agreement
 
or
 
transaction
 
between
 
them.
 
As
 
of
 
March
 
31,
 
2023
 
and
 
December
 
31,
 
2022,
 
repurchase
agreements were fully collateralized and not offset in the consolidated
 
statements of financial condition.
Repurchase agreements as of March 31, 2023, grouped by counterparty,
 
were as follows:
Weighted-Average
Counterparty
Amount
Maturity (In Months)
(Dollars in thousands)
JP Morgan Chase
$
172,982
1
v3.23.1
ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB)
 3 Months Ended
Mar. 31, 2023
ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) [Abstract]  
ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB)
NOTE 10 – ADVANCES
 
FROM THE FEDERAL HOME LOAN BANK (“FHLB
The following is a summary of the advances from the FHLB as of the indicated dates:
March 31,
 
December 31,
2023
2022
(In thousands)
Short-term
Fixed
-rate advances from the FHLB
(1)
$
425,000
$
475,000
Long-term
Fixed
-rate advances from the FHLB
(2)
500,000
200,000
$
925,000
$
675,000
(1)
Weighted-average interest rate of
5.04
% and
4.56
% as of March 31, 2023 and December 31, 2022, respectively.
(2)
Weighted-average interest rate of
4.45
% and
4.25
% as of March 31, 2023 and December 31, 2022, respectively.
Advances from the FHLB mature as follows as of the indicated date:
March 31, 2023
(In thousands)
Within one month
$
425,000
Over one to five years
500,000
 
Total
$
925,000
During the
 
first quarter
 
of 2023,
 
the Corporation
 
added $
425.0
 
million of
 
short-term FHLB
 
advances at
 
an average
 
cost of
5.04
%
and $
300.0
 
million of
 
long-term FHLB
 
advances at
 
an average cost
 
of
4.59
%, and repaid
 
upon maturity
 
$
475.0
 
million of
 
short-term
FHLB advances at an average cost of
4.56
%.
v3.23.1
OTHER BORROWINGS
 3 Months Ended
Mar. 31, 2023
OTHER BORROWINGS [Abstract]  
OTHER BORROWINGS
NOTE 11 – OTHER LONG-TERM
 
BORROWINGS
Junior Subordinated Debentures
Junior subordinated debentures, as of the indicated dates, consisted of:
March 31,
 
December 31,
(In thousands)
2023
2022
Floating rate junior subordinated debentures (FBP Statutory Trust
 
I)
(1)
(3)
(4)
$
65,205
$
65,205
Floating rate junior subordinated debentures (FBP Statutory Trust
 
II)
(2) (3)
(4)
118,557
118,557
$
183,762
$
183,762
(1)
Amount represents junior subordinated interest-bearing debentures
 
due in 2034 with a floating interest rate of
2.75
% over
3-month LIBOR
 
(
7.66
% as of March 31, 2023 and
7.49
% as of
December 31, 2022).
(2)
Amount represents junior subordinated interest-bearing debentures
 
due in 2034 with a floating interest rate of
2.50
% over
3-month LIBOR
 
(
7.46
% as of March 31, 2023 and
7.25
% as of
December 31, 2022).
(3)
Following the provisions of the LIBOR Act and Regulation
 
ZZ, the LIBOR reference on these contracts will automatically transition
 
by operation of law to three-month CME Term
SOFR, plus a spread adjustment of 0.26161% on the first reset
 
date after USD LIBOR ceases publication in June 2023.
(4)
See Note 7 - Non-Consolidated Variable
 
Interest Entities
 
("VIEs") and Servicing Assets, for additional information on the nature
 
and terms of these debentures.
v3.23.1
EARNINGS PER COMMON SHARE
 3 Months Ended
Mar. 31, 2023
EARNINGS PER COMMON SHARE [Abstract]  
EARNINGS PER COMMON SHARE
NOTE 12 – EARNINGS PER COMMON
.
SHARE
The calculations of earnings per common share for the quarters ended March 31, 2023
 
and 2022 are as follows:
Quarter Ended March 31,
2023
2022
(In thousands, except per share information)
Net income attributable to common stockholders
$
70,698
$
82,600
Weighted-Average
 
Shares:
 
Average common
 
shares outstanding
180,215
198,130
 
Average potential
 
dilutive common shares
 
1,021
1,407
 
Average common
 
shares outstanding - assuming dilution
181,236
199,537
Earnings per common share:
Basic
 
$
0.39
$
0.42
Diluted
 
$
0.39
$
0.41
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 and
 
performance
 
units (if
 
any
 
of the
 
performance
conditions
 
are
 
met
 
as of
 
the end
 
of
 
the reporting
 
period),
 
that
 
do
 
not contain
 
non-forfeitable
 
dividend
 
or dividend
 
equivalent
 
rights
using the
 
treasury stock
 
method. This
 
method assumes
 
that proceeds
 
equal to
 
the amount
 
of compensation
 
cost attributable
 
to future
services
 
is
 
used
 
to
 
repurchase
 
shares
 
on
 
the
 
open
 
market
 
at
 
the
 
average
 
market
 
price
 
for
 
the
 
period.
 
The
 
difference
 
between
 
the
number
 
of
 
potential
 
dilutive
 
shares
 
issued
 
and
 
the
 
shares
 
purchased
 
is
 
added
 
as
 
incremental
 
shares
 
to
 
the
 
actual
 
number
 
of
 
shares
outstanding
 
to
 
compute
 
diluted
 
earnings
 
per
 
share.
 
Unvested
 
shares
 
of
 
restricted
 
stock
 
outstanding
 
during
 
the
 
period
 
that
 
result
 
in
lower potentially
 
dilutive shares issued
 
than shares purchased
 
under the
 
treasury stock method
 
are not included
 
in the computation
 
of
dilutive
 
earnings
 
per
 
share
 
since
 
their
 
inclusion
 
would
 
have an
 
antidilutive
 
effect
 
on
 
earnings
 
per
 
share.
 
There
 
were
no
 
antidilutive
shares of common stock during the quarters ended March 31, 2023 and
 
2022.
v3.23.1
STOCK-BASED COMPENSATION
 3 Months Ended
Mar. 31, 2023
STOCK-BASED COMPENSATION [Abstract]  
STOCK-BASED COMPENSATION
NOTE 13 – STOCK-BASED
.
COMPENSATION
The First Bancorp
 
Omnibus Incentive
 
Plan (the “Omnibus
 
Plan”), which is
 
effective until
 
May 24, 2026,
 
provides for equity-based
and non
 
equity-based compensation
 
incentives (the
 
“awards”). The
 
Omnibus Plan
 
authorizes the
 
issuance of
 
up to
14,169,807
 
shares
of common
 
stock, subject
 
to adjustments
 
for stock
 
splits, reorganizations
 
and other
 
similar events.
 
As of
 
March 31,
 
2023, there
 
were
3,142,813
 
authorized
 
shares
 
of
 
common
 
stock
 
available
 
for
 
issuance
 
under
 
the
 
Omnibus
 
Plan.
 
The
 
Board,
 
based
 
on
 
the
recommendation of
 
the Compensation
 
and Benefits
 
Committee of
 
the Board,
 
has the
 
power and
 
authority to
 
determine those
 
eligible
to receive
 
awards and
 
to establish the
 
terms and conditions
 
of any
 
awards, subject to
 
various limits and
 
vesting restrictions
 
that apply
to individual and aggregate awards.
Restricted Stock
Under the
 
Omnibus Plan,
 
the Corporation
 
may grant
 
restricted stock
 
to plan
 
participants, subject
 
to forfeiture
 
upon the
 
occurrence
of certain
 
events until
 
the dates
 
specified in
 
the participant’s
 
award agreement.
 
While the
 
restricted stock
 
is subject
 
to forfeiture
 
and
does
 
not
 
contain
 
non-forfeitable
 
dividend
 
rights,
 
participants
 
may
 
exercise
 
full
 
voting
 
rights
 
with
 
respect
 
to
 
the
 
shares
 
of
 
restricted
stock
 
granted
 
to
 
them.
 
The
 
fair
 
value
 
of
 
the
 
shares
 
of
 
restricted
 
stock
 
granted
 
was
 
based
 
on
 
the
 
market
 
price
 
of
 
the
 
Corporation’s
common
 
stock on
 
the date
 
of the
 
respective grant.
 
The shares
 
of restricted
 
stocks granted
 
to employees
 
are subject
 
to the
 
following
vesting period:
 
fifty percent
 
(
50
%) of
 
those shares
 
vest on
 
the
two-year
 
anniversary of
 
the grant
 
date and
 
the remaining
50
% vest
 
on
the
three-year
 
anniversary of
 
the grant
 
date. The
 
shares of
 
restricted stock
 
granted to
 
directors are
 
generally subject
 
to vesting
 
on the
one-year
 
anniversary of the grant
 
date. The Corporation issued
495,891
 
shares during the quarter
 
ended March 31, 2023
 
in connection
with restricted stock awards, which were reissued from treasury shares.
The following table summarizes the restricted stock activity under the Omnibus
 
Plan during the quarters ended March 31, 2023
and 2022:
Quarter ended
Quarter ended
March 31,
 
2023
March 31,
 
2022
Number of
Weighted-
Number of
Weighted-
shares of
Average
shares of
Average
restricted
Grant Date
restricted
Grant Date
stock
 
Fair Value
stock
 
Fair Value
Unvested shares outstanding at beginning of year
938,491
$
9.14
1,148,775
$
6.61
Granted
(1)
495,891
11.99
299,440
13.15
Forfeited
(25,415)
9.98
(3,092)
6.69
Vested
(481,536)
5.93
(487,198)
5.72
Unvested shares outstanding at end of period
927,431
$
12.32
957,925
$
9.10
(1)
For the quarter ended March 31, 2023, includes
3,502
 
shares of restricted stock awarded to independent directors and
492,389
 
shares of restricted stock awarded to employees, of which
33,718
 
shares were granted to retirement-eligible employees and thus
 
charged to earnings as of the grant date. Includes
 
for the quarter ended March 31, 2022,
3,048
 
shares of restricted
stock awarded to independent directors and
296,392
 
shares of restricted stock awarded to employees, of which
6,084
 
shares were granted to retirement-eligible employees and thus
charged to earnings as of the grant date.
For the quarters
 
ended March 31,
 
2023 and 2022,
 
the Corporation recognized
 
$
1.6
 
million and $
0.9
 
million, respectively,
 
of stock-
based compensation
 
expense related
 
to restricted
 
stock awards.
 
As of
 
March 31,
 
2023,
 
there was
 
$
7.8
 
million
 
of total
 
unrecognized
compensation
 
cost
 
related
 
to unvested
 
shares
 
of
 
restricted
 
stock
 
that
 
the
 
Corporation
 
expects
 
to
 
recognize
 
over
 
a
 
weighted
 
average
period of
2.1
 
years.
 
Performance Units
Under the Omnibus Plan, the Corporation may award
 
performance units to participants, with each unit representing
 
the value of one
share
 
of
 
the
 
Corporation’s
 
common
 
stock.
These awards, which are granted to executives, do not contain non-forfeitable rights to
dividend equivalent amounts and can only be settled in shares of the Corporation’s common stock.
 
On March 16, 2023, the Corporation granted 216,876 performance units to executives. Performance units granted on or after March
16, 2023 will vest on the third anniversary of the effective date of the award based on actual achievement of two performance metrics
weighted equally: relative total shareholder return (“Relative TSR”), compared to companies that comprise the KBW Nasdaq
Regional Banking Index, and the achievement of a tangible book value per share (“TBVPS”) goal, which is measured based upon the
growth in the tangible book value during the performance cycle, adjusted for certain allowable non-recurring transactions. The
participant may earn 50% of their target opportunity for threshold-level performance and up to 150% of their target opportunity for
maximum-level performance, based on the achievement of the performance goals during a three-year performance cycle. Amounts
between threshold, target and maximum performance will vest on a proportional amount. Performance units granted prior to March
16, 2023 vest subject only to achievement of a TBVPS goal. In addition, the participant may earn only up to 100% of their target
opportunity.
 
The following
 
table summarizes
 
the performance
 
units activity under
 
the Omnibus
 
Plan during
 
the quarters
 
ended March
 
31, 2023
and 2022:
Quarter ended
Quarter ended
March 31,
 
2023
March 31,
 
2022
Number
 
Weighted -
Number
 
Weighted -
of
Average
of
Average
Performance
Grant Date
Performance
Grant Date
Units
Fair Value
Units
Fair Value
Performance units at beginning of year
791,923
7.36
814,899
7.06
Additions
(1)
216,876
12.24
166,669
13.15
Vested
(2)
(474,538)
4.08
(189,645)
11.16
Performance units at end of period
534,261
12.25
791,923
7.36
(1)
Units granted during the quarter ended March 31, 2023
 
are based on the achievement of the Relative TSR and TBVPS
 
performance goals during a three-year performance cycle beginning
January 1, 2023 and ending on December 31, 2025. Units
 
granted during the quarter ended March 31, 2022 are based
 
on the TBVPS achievement of the performance goal during a three-
year performance cycle beginning January 1, 2022 and ending
 
on December 31, 2024.
(2)
Units vested during the quarter ended March 31, 2023 are
 
related to performance units granted in 2020 that met the pre-established
 
target and were settled with shares of common stock
reissued from treasury shares. Units vested during the quarter ended
 
March 31, 2022 are related to performance units granted in 2019
 
that met the pre-established target and were settled
with shares of common stock reissued from treasury shares.
The fair value of the performance units awarded during the quarter ended March 31, 2023 and 2022, that was based on the TBVPS
goal component, was calculated based on the market price of the Corporation’s common stock on the respective date of the grant and
assuming attainment of 100% of target opportunity. As of March 31, 2023, there have been no changes on management’s assessment
of the probability that the pre-established TBVPS goal will be achieved; as such, no cumulative adjustment to compensation expense
has been recognized. The fair value of the performance units awarded during the quarter ended March 31, 2023, that was based on the
Relative TSR component, was calculated using a Monte Carlo simulation. Since the Relative TSR component is considered a market
condition, the fair value of the portion of the award based on Relative TSR is not revised subsequent to grant date based on actual
performance.
 
For the quarters
 
ended March 31,
 
2023 and 2022,
 
the Corporation recognized
 
$
0.5
 
million and $
0.3
 
million, respectively,
 
of stock-
based
 
compensation
 
expense
 
related
 
to
 
performance
 
units.
 
As
 
of
 
March
 
31,
 
2023,
 
there
 
was
 
$
4.7
 
million
 
of
 
total
 
unrecognized
compensation cost
 
related to unvested
 
performance units
 
that the Corporation
 
expects to recognize
 
over a weighted
 
average period
 
of
2.4
 
years.
 
 
The following
 
table summarizes
 
the valuation
 
assumptions used
 
to calculate
 
the fair
 
value of
 
the Relative
 
TSR component
 
of the
performance units granted under the Omnibus Plan during the quarter
 
ended March 31, 2023:
Quarter Ended
March 31,
 
2023
Risk-free interest rate
(1)
3.98
%
Correlation coefficient
77.16
Expected dividend yield
(2)
-
Expected volatility
(3)
41.37
Expected life (in years)
2.79
(1)
Based on the yield on zero-coupon U.S. Treasury
 
STRIPS as of the grant date.
(2)
Assumes that dividends are reinvested at each ex-dividend date.
(3)
Calculated based on the historical volatility of each company's
 
stock price with a look-back period equal to the simulation term
 
using daily stock prices.
Shares withheld
During the
 
first quarter
 
of 2023,
 
the Corporation
 
withheld
287,835
 
shares (first
 
quarter of
 
2022 –
201,930
 
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 presents shares withheld for
 
tax purposes as common stock repurchases.
v3.23.1
STOCKHOLDERS' EQUITY
 3 Months Ended
Mar. 31, 2023
STOCKHOLDERS' EQUITY [Abstract]  
STOCKHOLDERS' EQUITY
NOTE 14 –
 
STOCKHOLDERS’
 
EQUITY
Stock Repurchase Programs
On April
 
27, 2022,
 
the Corporation
 
announced that
 
its Board
 
approved a
 
stock repurchase
 
program,
 
under which
 
the Corporation
may repurchase
 
up to
 
$
350
 
million of
 
its outstanding
 
common stock,
 
which commenced
 
in the
 
second quarter
 
of 2022.
 
Repurchases
under
 
the
 
program
 
may
 
be
 
executed
 
through
 
open
 
market
 
purchases,
 
accelerated
 
share
 
repurchases
 
and/or
 
privately
 
negotiated
transactions
 
or
 
plans,
 
including
 
plans
 
complying
 
with
 
Rule
 
10b5-1
 
under
 
the
 
Exchange
 
Act.
 
The
 
Corporation’s
 
common
 
stock
repurchase
 
program
 
is
 
subject
 
to
 
various
 
factors,
 
including
 
the
 
Corporation’s
 
capital
 
position,
 
liquidity,
 
financial
 
performance
 
and
alternative uses
 
of capital,
 
stock trading
 
price, and
 
general market
 
conditions. The
 
repurchase program
 
may be
 
modified, suspended,
or
 
terminated
 
at
 
any
 
time
 
at
 
the
 
Corporation’s
 
discretion.
 
The
 
program
 
does
 
not
 
obligate
 
the
 
Corporation
 
to
 
acquire
 
any
 
specific
number of shares and does
 
not have an expiration
 
date. During the first quarter
 
of 2023, the Corporation
 
repurchased
3,577,540
 
shares
of common stock through
 
open market transactions at
 
an average purchase price
 
of $
13.98
 
per share for a total
 
price of approximately
$
50
 
million. As of
 
March 31, 2023,
 
the Corporation has
 
remaining authorization to
 
repurchase approximately $
75
 
million of common
stock.
 
Considering
 
the
 
industry-wide
 
uncertain
 
environment,
 
the
 
Corporation
 
decided
 
to
 
pause
 
share
 
buybacks
 
during
 
the
 
second
quarter of 2023 and it expects to resume shares repurchases during the third quarter
 
of 2023 subject to factors mentioned above.
 
 
During
 
the
 
first
 
quarter
 
of
 
2022,
 
the
 
Corporation
 
completed
 
a
 
previously
 
publicly-announced
 
$
300
 
million
 
stock
 
repurchase
program approved by the Board
 
on April 26, 2021 by purchasing through
 
open market transactions
3,409,697
 
shares of common stock
at an average price of $
14.66
 
for a total purchase price of approximately $
50
 
million.
Common Stock
The following table shows the change in shares of common stock outstanding for
 
the quarters ended March 31, 2023, and 2022:
Total
 
Number of Shares
Quarter Ended March 31,
 
2023
2022
Common stock outstanding, beginning balance
182,709,059
201,826,505
Common stock repurchased
(1)
(3,865,375)
(3,611,627)
Common stock reissued under stock-based compensation plan
970,429
489,085
Restricted stock forfeited
(25,415)
(3,092)
Common stock outstanding, ending balances
179,788,698
198,700,871
 
(1)
For the quarters ended March 31,
 
2023 and 2022
 
includes
287,835
 
and
201,930
 
shares, respectively, of common stock
 
surrendered to cover officers' payroll and income taxes.
For
 
the
 
quarters
 
ended
 
March
 
31,
 
2023
 
and
 
2022,
 
total
 
cash
 
dividends
 
declared
 
on
 
shares
 
of
 
common
 
stock
 
amounted
 
to
 
$
25.4
million
 
and
 
$
19.9
 
million,
 
respectively.
 
On
April 27, 2023
, the
 
Corporation
 
announced
 
that its
 
Board
 
had
 
declared
 
a quarterly
 
cash
dividend of $
0.14
 
per common share payable
 
on
June 9, 2023
 
to shareholders of record
 
at the close of
 
business on
May 24, 2023
. 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 when
 
authorizing the issuance
 
of that particular
 
series.
No
 
shares of preferred
 
stock were outstanding
 
as of March
31, 2023 and December 31, 2022.
Treasury Stock
The following table shows the change in shares of treasury stock for the quarters ended
 
March 31,
 
2023 and 2022.
Total
 
Number of Shares
Quarter Ended March 31,
 
2023
2022
Treasury stock, beginning balance
40,954,057
21,836,611
Common stock repurchased
(1)
3,865,375
3,611,627
Common stock reissued under stock-based compensation plan
(970,429)
(489,085)
Restricted stock forfeited
25,415
3,092
Treasury stock, ending balances
43,874,418
24,962,245
(1)
For the quarters ended March 31,
 
2023 and 2022 includes
287,835
 
and
201,930
 
shares, respectively, of common stock
 
surrendered to cover officers' payroll and income taxes.
FirstBank Statutory Reserve (Legal Surplus)
The
 
Puerto
 
Rico
 
Banking
 
Law
 
of
 
1933,
 
as
 
amended
 
(the
 
“Puerto
 
Rico
 
Banking
 
Law”),
 
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 without the
 
prior consent of the Puerto
 
Rico Commissioner of Financial Institutions.
The Puerto Rico Banking Law
provides that, when the expenditures of a Puerto Rico commercial bank are greater than receipts, the excess of the expenditures over
receipts must be charged against the undistributed profits of the bank, and the balance, if any, must be charged against the legal
surplus reserve, as a reduction thereof. If the legal surplus reserve is not sufficient to cover such balance in whole or in part, the
outstanding amount must be charged against the capital account and the Bank cannot pay dividends until it can replenish the legal
surplus reserve to an amount of at least 20% of the original capital contributed.
 
FirstBank’s
 
legal surplus
 
reserve, included
 
as part
 
of
retained
 
earnings in
 
the Corporation’s
 
consolidated
 
statements of
 
financial
 
condition,
 
amounted
 
to $
168.5
 
million
 
as of
 
each March
31, 2023 and December 31, 2022.
v3.23.1
ACCUMULATED OTHER COMPREHENSIVE LOSS
 3 Months Ended
Mar. 31, 2023
ACCUMULATED OTHER COMPREHENSIVE LOSS [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE LOSS
NOTE 15 – ACCUMULATED
 
OTHER COMPREHENSIVE LOSS
 
The following table presents the changes in accumulated other comprehensive
 
loss for the quarters ended March 31, 2023 and
2022:
Changes in Accumulated Other Comprehensive
 
Loss by Component
(1)
Quarter ended March 31,
2023
2022
(In thousands)
Unrealized net holding losses on available-for-sale
 
debt securities:
Beginning balance
$
(805,972)
$
(87,390)
 
Other comprehensive income (loss)
87,228
(331,834)
Ending balance
$
(718,744)
$
(419,224)
Adjustment of pension and postretirement
 
benefit plans:
Beginning balance
$
1,194
$
3,391
 
Other comprehensive income (loss)
-
-
Ending balance
$
1,194
$
3,391
____________________
(1) All amounts presented are net of tax.
v3.23.1
EMPLOYEE BENEFIT PLANS
 3 Months Ended
Mar. 31, 2023
EMPLOYEE BENEFIT PLANS [Abstract]  
EMPLOYEE BENEFIT PLANS
NOTE 16 – EMPLOYEE BENEFIT PLANS
The Corporation
 
maintains two frozen
 
qualified noncontributory
 
defined benefit pension
 
plans (the “Pension
 
Plans”), and
 
a related
complementary
 
post-retirement
 
benefit
 
plan
 
(the
 
“Postretirement
 
Benefit
 
Plan”)
 
covering
 
medical
 
benefits
 
and
 
life
 
insurance
 
after
retirement
 
that
 
it
 
obtained
 
in
 
the
 
Banco
 
Santander
 
Puerto
 
Rico
 
(“BSPR”)
 
acquisition
 
on
 
September
 
1,
 
2020.
 
One
 
defined
 
benefit
pension
 
plan covers
 
substantially all
 
of BSPR’s
 
former
 
employees who
 
were active
 
before January
 
1, 2007,
 
while
 
the other
 
defined
benefit pension plan covers personnel of an institution previously acquired
 
by BSPR. Benefits are based on salary and years of service.
The accrual of benefits under the Pension Plans is frozen to all participants.
 
The
 
Corporation
 
requires
 
recognition
 
of
 
a
 
plan’s
 
overfunded
 
and
 
underfunded
 
status
 
as
 
an
 
asset
 
or
 
liability
 
with
 
an
 
offsetting
adjustment to accumulated other comprehensive loss pursuant to
 
the ASC Topic 715, “Compensation-Retirement
 
Benefits.”
The following table presents the components of net periodic cost (benefit) for
 
the indicated periods:
Affected Line Item
in the Consolidated
Quarter Ended
Statements of Income
March 31, 2023
March 31, 2022
(In thousands)
Net periodic cost (benefit), pension plans:
Interest cost
Other expenses
$
950
$
654
Expected return on plan assets
Other expenses
(886)
(1,039)
Net periodic cost (benefit), pension plans
64
(385)
Net periodic cost, postretirement plan
Other expenses
6
1
Net periodic cost (benefit)
$
70
$
(384)
v3.23.1
INCOME TAXES
 3 Months Ended
Mar. 31, 2023
INCOME TAXES [Abstract]  
INCOME TAXES
NOTE 17 –
 
INCOME TAXES
 
Income
 
tax
 
expense
 
includes
 
Puerto
 
Rico
 
and
 
USVI
 
income
 
taxes,
 
as
 
well
 
as
 
applicable
 
U.S.
 
federal
 
and
 
state
 
taxes.
 
The
Corporation is subject
 
to Puerto Rico income
 
tax on its income
 
from all sources.
 
As a Puerto Rico
 
corporation, FirstBank is
 
treated as
a foreign corporation for U.S. and
 
USVI income tax purposes and, accordingly,
 
is generally subject to U.S. and USVI
 
income tax only
on its income from
 
sources within the U.S.
 
and USVI or income
 
effectively connected with
 
the conduct of a
 
trade or business in
 
those
jurisdictions. Any
 
such tax
 
paid in
 
the U.S.
 
and USVI
 
is also
 
creditable against
 
the Corporation’s
 
Puerto Rico
 
tax liability,
 
subject to
certain conditions and limitations.
Under the Puerto Rico
 
Internal Revenue Code of
 
2011 PR (the
 
“2011 PR Code”),
 
the Corporation and its subsidiaries
 
are treated as
separate
 
taxable
 
entities
 
and
 
are
 
not
 
entitled
 
to
 
file
 
consolidated
 
tax
 
returns
 
and,
 
thus,
 
the
 
Corporation
 
is
 
generally
 
not
 
entitled
 
to
utilize
 
losses
 
from
 
one
 
subsidiary
 
to
 
offset
 
gains
 
in
 
another
 
subsidiary.
 
Accordingly,
 
in
 
order
 
to
 
obtain
 
a
 
tax
 
benefit
 
from
 
a
 
net
operating
 
loss
 
(“NOL”),
 
a
 
particular
 
subsidiary
 
must
 
be
 
able
 
to
 
demonstrate
 
sufficient
 
taxable
 
income
 
within
 
the
 
applicable
 
NOL
carry-forward
 
period.
 
Pursuant
 
to
 
the
 
2011
 
PR
 
Code,
 
the
 
carry-forward
 
period
 
for
 
NOLs
 
incurred
 
during
 
taxable
 
years
 
that
commenced
 
after
 
December
 
31,
 
2004
 
and
 
ended
 
before
 
January
 
1,
 
2013
 
is
 
12
 
years;
 
for
 
NOLs
 
incurred
 
during
 
taxable
 
years
commencing after December 31,
 
2012, the carryover period is
 
10 years. The 2011
 
PR Code provides a dividend
 
received deduction of
100
% on
 
dividends
 
received
 
from
 
“controlled”
 
subsidiaries
 
subject
 
to
 
taxation
 
in
 
Puerto
 
Rico
 
and
85
% on
 
dividends
 
received
 
from
other taxable domestic corporations.
The
 
Corporation
 
has
 
maintained
 
an
 
effective
 
tax
 
rate
 
lower
 
than
 
the
 
Puerto
 
Rico
 
maximum
 
statutory
 
rate
 
of
37.5
%
 
mainly
 
by
investing
 
in
 
government
 
obligations
 
and
 
MBS
 
exempt
 
from
 
U.S.
 
and
 
Puerto
 
Rico
 
income
 
taxes
 
and
 
by
 
doing
 
business
 
through
 
an
international banking
 
entity (an
 
“IBE”) unit
 
of the
 
Bank, and
 
through the
 
Bank’s
 
subsidiary,
 
FirstBank Overseas
 
Corporation, whose
interest income
 
and gains
 
on sales
 
are exempt
 
from Puerto
 
Rico income
 
taxation. The
 
IBE unit
 
and FirstBank
 
Overseas Corporation
were created
 
under the
 
International Banking
 
Entity
 
Act of
 
Puerto
 
Rico, which
 
provides for
 
total Puerto
 
Rico tax
 
exemption on
 
net
income derived by
 
IBEs operating in
 
Puerto Rico on the
 
specific activities identified
 
in the IBE Act.
 
An IBE that operates
 
as a unit of
a bank
 
pays income
 
taxes at
 
the corporate
 
standard rates
 
to the
 
extent that
 
the IBE’s
 
net income
 
exceeds
20
% of
 
the bank’s
 
total net
taxable income.
For the
 
first quarter
 
of 2023,
 
the Corporation
 
recorded
 
an income
 
tax expense
 
of $
31.9
 
million
 
compared
 
to $
43.0
 
million in
 
the
first quarter of 2022.
 
The variance was primarily
 
related to lower pre-tax
 
income and a lower estimated
 
effective tax rate
 
as a result of
a
 
higher
 
proportion
 
of
 
exempt
 
to
 
taxable
 
income
 
when
 
compared
 
to
 
the
 
same
 
period
 
in
 
2022.
 
The
 
Corporation’s
 
estimated
 
annual
effective tax
 
rate, excluding
 
entities with pre-tax
 
losses from which
 
a tax benefit
 
cannot be recognized
 
and discrete items,
 
was
31.2
%
for the first quarter of 2023, compared to
32.9
% for the first quarter of 2022.
The net
 
deferred tax
 
asset of
 
the Corporation’s
 
banking subsidiary,
 
FirstBank, amounted
 
to $
154.8
 
million as
 
of March
 
31, 2023,
net of a valuation
 
allowance of $
139.1
 
million, compared to
 
a net deferred
 
tax asset of $
155.6
 
million, net of
 
a valuation allowance
 
of
$
149.5
 
million, as
 
of December
 
31, 2022.
 
The Corporation
 
maintains a
 
full valuation
 
allowance for
 
its deferred
 
tax assets
 
associated
with capital
 
losses carry
 
forward and
 
unrealized losses
 
of available-for-sale
 
debt securities.
 
The reduction
 
in the
 
valuation allowance
was related to
 
the change in
 
the market value
 
of available-for-sale
 
debt securities,
 
which resulted in
 
a change in
 
the deferred tax
 
asset
and an equal change in the valuation allowance without impacting earnings.
In
 
2017,
 
the
 
Corporation
 
completed
 
a
 
formal
 
ownership
 
change
 
analysis
 
within
 
the
 
meaning
 
of
 
Section
 
382
 
of
 
the
 
U.S.
 
Internal
Revenue Code
 
(“Section 382”)
 
covering a
 
comprehensive period
 
and concluded
 
that an
 
ownership
 
change had
 
occurred during
 
such
period.
 
The
 
Section
 
382
 
limitation
 
has
 
resulted
 
in
 
higher
 
U.S.
 
and
 
USVI
 
income
 
tax
 
liabilities
 
that
 
we
 
would
 
have
 
incurred
 
in
 
the
absence of such limitation. The Corporation has mitigated
 
to an extent the adverse effects associated with the
 
Section 382 limitation as
any
 
such
 
tax
 
paid
 
in
 
the
 
U.S.
 
or
 
USVI
 
can
 
be
 
creditable
 
against
 
Puerto
 
Rico
 
tax
 
liabilities
 
or
 
taken
 
as
 
a
 
deduction
 
against
 
taxable
income. However,
 
our ability
 
to reduce
 
our Puerto
 
Rico tax
 
liability through
 
such a
 
credit or
 
deduction depends
 
on our
 
tax profile
 
at
each annual
 
taxable period,
 
which is
 
dependent on
 
various factors.
 
For the
 
first quarters
 
of 2023
 
and 2022,
 
the Corporation
 
incurred
current income tax expense
 
of approximately $
2.5
 
million and $
1.6
 
million, respectively,
 
related to its U.S. operations.
 
The limitation
did not impact the USVI operations in the first quarters of 2023 and 2022, respectively
 
.
 
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 positions
 
in income
 
tax expense.
 
As of
 
March 31,
 
2023,
 
the Corporation
 
had $
0.2
million of
 
accrued interest
 
and penalties
 
related to
 
uncertain tax
 
positions in
 
the amount
 
of $
1.0
 
million that
 
it acquired
 
from BSPR,
which,
 
if recognized,
 
would decrease
 
the
 
effective
 
income tax
 
rate in
 
future
 
periods.
 
The amount
 
of unrecognized
 
tax benefits
 
may
increase
 
or
 
decrease
 
in
 
the
 
future
 
for
 
various
 
reasons,
 
including
 
adding
 
amounts
 
for
 
current
 
tax
 
year
 
positions,
 
expiration
 
of
 
open
income
 
tax returns
 
due
 
to the
 
statute of
 
limitations,
 
changes
 
in management’s
 
judgment about
 
the level
 
of uncertainty,
 
the status
 
of
examinations,
 
litigation
 
and
 
legislative activity,
 
and
 
the addition
 
or elimination
 
of uncertain
 
tax positions.
 
The statute
 
of
 
limitations
under the 2011
 
PR Code is four
 
years after a
 
tax return is
 
due or filed,
 
whichever is later;
 
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
2018 remain open to examination. For Puerto Rico tax purposes, all tax years
 
subsequent to 2017 remain open to examination.
v3.23.1
FAIR VALUE
 3 Months Ended
Mar. 31, 2023
FAIR VALUE [Abstract]  
FAIR VALUE [Text Block]
NOTE 18 –
 
FAIR VALUE
Fair Value
 
Measurement
ASC Topic
 
820, “Fair
 
Value
 
Measurement,”
 
defines fair
 
value as
 
the exchange
 
price that
 
would be
 
received for
 
an asset
 
or paid
 
to
transfer
 
a
 
liability
 
(an
 
exit
 
price)
 
in
 
the
 
principal
 
or
 
most
 
advantageous
 
market
 
for
 
the
 
asset
 
or
 
liability
 
in
 
an
 
orderly
 
transaction
between market
 
participants on
 
the measurement
 
date. This
 
guidance also
 
establishes a
 
fair value
 
hierarchy for
 
classifying assets
 
and
liabilities, which is based on
 
whether the inputs to
 
the valuation techniques used
 
to measure fair value are
 
observable or unobservable.
One of three levels of inputs may be used to measure fair value:
Level 1
 
Valuations
 
of
 
Level
 
1
 
assets
 
and
 
liabilities
 
are
 
obtained
 
from
 
readily-available
 
pricing
 
sources
 
for
 
market
transactions involving identical assets or liabilities in active markets.
Level 2
 
Va
luations of
 
Level 2 assets
 
and liabilities
 
are based on
 
observable inputs
 
other than Level
 
1 prices, such
 
as quoted
prices for similar assets or liabilities, or other inputs that are
 
observable or can be corroborated by observable market
data for substantially the full term of the assets or liabilities.
Level 3
 
Va
luations of Level 3 assets and
 
liabilities are based on unobservable
 
inputs that are supported by
 
little or no market
activity and
 
are significant to
 
the fair value
 
of the assets
 
or liabilities. Level
 
3 assets and
 
liabilities include financial
instruments
 
whose value
 
is determined
 
by using
 
pricing models
 
for
 
which
 
the determination
 
of fair
 
value
 
requires
significant management judgment as to the estimation.
 
See Note 25
 
– Fair Value
 
,
 
to the audited
 
consolidated financial
 
statements included
 
in the 2022
 
Annual Report
 
on Form
 
10-K for
 
a
description of the valuation methodologies used to measure financial
 
instruments at fair value on a recurring basis.
Assets and liabilities measured at fair value on a recurring basis are summarized below as of
 
March 31, 2023 and December 31,
2022:
As of March 31, 2023
As of December 31, 2022
Fair Value Measurements Using
 
Fair Value Measurements Using
 
Level 1
Level 2
Level 3
Total
Level 1
Level 2
Level 3
Total
(In thousands)
Assets:
Debt securities available for sale:
U.S. Treasury securities
$
140,422
$
-
$
-
$
140,422
$
138,875
$
-
$
-
$
138,875
Noncallable U.S. agencies debt securities
-
428,675
-
428,675
-
389,787
-
389,787
Callable U.S. agencies debt securities
-
1,962,535
-
1,962,535
-
1,963,566
-
1,963,566
MBS
-
3,050,019
5,402
(1)
3,055,421
-
3,098,797
5,794
(1)
3,104,591
Puerto Rico government obligations
-
-
2,203
2,203
-
-
2,201
2,201
Other investments
-
-
-
-
-
-
500
500
Equity securities
4,926
-
-
4,926
4,861
-
-
4,861
Derivative assets
-
628
-
628
-
633
-
633
Liabilities:
Derivative liabilities
-
645
-
645
-
476
-
476
(1) Related to private label MBS.
The table
 
below presents
 
a reconciliation
 
of the
 
beginning and
 
ending balances
 
of all
 
assets measured
 
at fair
 
value on
 
a recurring
basis using significant unobservable inputs (Level 3) for the quarters
 
ended March 31, 2023 and 2022:
Quarter Ended March 31,
 
2023
2022
Level 3 Instruments Only
 
 
Securities Available for Sale
(1)
Securities Available for Sale
(1)
(In thousands)
Beginning balance
$
8,495
$
11,084
 
Total gains (losses):
 
Included in other comprehensive loss (unrealized)
(162)
(287)
 
Included in earnings (unrealized)
(2)
9
388
 
Principal repayments and amortization
(3)
(737)
(538)
Ending balance
$
7,605
$
10,647
___________________
(1)
Amounts mostly related to private label MBS.
(2)
Changes in unrealized gains included in earnings were recognized within
 
provision for credit losses - expense (benefit) and
 
relate to assets still held as of the reporting date.
(3)
Includes the $
0.5
 
million repayment of a matured debt security.
The tables below present quantitative information for significant assets measured at fair
 
value on a recurring basis using significant
unobservable inputs (Level 3) as of March 31, 2023 and December 31, 2022:
March 31, 2023
Fair Value
Valuation Technique
Unobservable Input
Range
Weighted
Average
Minimum
 
Maximum
(Dollars in thousands)
Available-for-sale
 
debt securities:
 
Private label MBS
$
5,402
Discounted cash flows
Discount rate
16.0%
16.0%
16.0%
Prepayment rate
1.6%
12.6%
9.2%
Projected cumulative loss rate
0.2%
14.9%
5.2%
 
Puerto Rico government obligations
$
2,203
Discounted cash flows
Discount rate
12.8%
12.8%
12.8%
Projected cumulative loss rate
19.0%
19.0%
19.0%
December 31, 2022
Fair Value
Valuation Technique
Unobservable Input
Range
Weighted
Average
Minimum
 
Maximum
(Dollars in thousands)
Available-for-sale
 
debt securities:
 
Private label MBS
$
5,794
Discounted cash flows
Discount rate
16.2%
16.2%
16.2%
Prepayment rate
1.5%
15.2%
11.8%
Projected cumulative loss rate
0.3%
15.6%
5.6%
 
Puerto Rico government obligations
$
2,201
Discounted cash flows
Discount rate
12.9%
12.9%
12.9%
Projected cumulative loss rate
19.3%
19.3%
19.3%
Information about Sensitivity to Changes in Significant Unobservable Inputs
Private label
 
MBS: The
 
significant unobservable
 
inputs in
 
the valuation
 
include probability
 
of default,
 
the loss
 
severity
 
assumption,
and prepayment
 
rates. Shifts
 
in those
 
inputs would
 
result in different
 
fair value
 
measurements. Increases
 
in the probability
 
of default,
loss
 
severity
 
assumptions,
 
and
 
prepayment
 
rates
 
in
 
isolation
 
would
 
generally
 
result
 
in
 
an
 
adverse
 
effect
 
on
 
the
 
fair
 
value
 
of
 
the
instruments. The Corporation modeled meaningful and possible
 
shifts of each input to assess the effect on the fair value estimation.
Puerto Rico
 
Government Obligations:
 
The significant
 
unobservable input
 
used in
 
the fair value
 
measurement is
 
the assumed
 
loss rate
of the
 
underlying
 
residential
 
mortgage
 
loans that
 
collateralize
 
these obligations,
 
which
 
are guaranteed
 
by the
 
PRHFA.
 
A significant
increase (decrease) in
 
the assumed rate
 
would lead to
 
a (lower) higher
 
fair value estimate.
 
The fair value
 
of these bonds
 
was based on
a
 
discounted
 
cash
 
flow
 
methodology
 
that
 
considers
 
the
 
structure
 
and
 
terms
 
of
 
the
 
debt
 
security.
 
The
 
Corporation
 
utilizes
 
PDs
 
and
LGDs that
 
consider,
 
among other
 
things, historical
 
payment performance,
 
loan-to value
 
attributes,
 
and relevant
 
current and
 
forward-
looking
 
macroeconomic
 
variables,
 
such
 
as
 
regional
 
unemployment
 
rates,
 
the
 
housing
 
price
 
index,
 
and
 
expected
 
recovery
 
of
 
the
PRHFA
 
guarantee. Under
 
this approach, expected
 
cash flows (interest and
 
principal) are discounted
 
at the Treasury
 
yield curve plus a
spread as of the reporting date and compared to the amortized cost.
Additionally, fair value
 
is used on a nonrecurring basis to evaluate certain assets in accordance with GAAP.
As of March 31, 2023, the Corporation recorded losses or valuation adjustments
 
for assets recognized at fair value on a non-
recurring basis and still held at March 31, 2023, as shown in the following table:
Carrying value as of March 31,
 
Related to losses recorded for the Quarter Ended
March 31,
 
2023
2022
2023
2022
(In thousands)
Level 3:
Loans receivable
 
(1)
$
3,486
$
25,951
$
(60)
$
(3,539)
OREO
(2)
814
1,432
(33)
(73)
(1)
Consists mainly of
 
collateral dependent
 
commercial and construction
 
loans. The
 
Corporation generally
 
measured losses
 
based on the
 
fair value of
 
the collateral.
 
The Corporation derived
the fair values from
 
external appraisals that
 
took into consideration
 
prices in observed
 
transactions involving similar
 
assets in similar locations
 
but adjusted for
 
specific characteristics
 
and
assumptions of the collateral (e.g., absorption rates), which are
 
not market observable.
(2)
The Corporation
 
derived the
 
fair values
 
from appraisals
 
that took
 
into consideration
 
prices in
 
observed transactions
 
involving similar
 
assets in
 
similar locations
 
but adjusted
 
for specific
characteristics and assumptions of
 
the properties (e.g., absorption
 
rates and net operating
 
income of income producing
 
properties), which are not
 
market observable. Losses
 
were related to
market valuation adjustments after the transfer of the loans to the
 
OREO portfolio.
See Note 25 – Fair Value,
 
to the audited consolidated financial
 
statements to the audited
 
consolidated financial statements included
 
in
the
 
2022
 
Annual
 
Report
 
on
 
Form
 
10-K
 
for
 
qualitative
 
information
 
regarding
 
the
 
fair
 
value
 
measurements
 
for
 
Level
 
3
 
financial
instruments measured at fair value on nonrecurring basis.
The following tables present the carrying value, estimated fair value and estimated
 
fair value level of the hierarchy of financial
instruments as of March 31, 2023 and December 31, 2022:
Total Carrying Amount
in Statement of
Financial Condition as
of March 31, 2023
Fair Value Estimate as
 
of
March 31, 2023
Level 1
Level 2
Level 3
(In thousands)
Assets:
Cash and due from banks and money market investments
 
(amortized cost)
$
823,601
$
823,601
$
823,601
$
-
$
-
Available-for-sale debt
 
securities (fair value)
5,589,256
5,589,256
140,422
5,441,229
7,605
Held-to-maturity debt securities (amortized cost)
431,395
Less: ACL on held-to-maturity debt securities
(7,646)
Held-to-maturity debt securities, net of ACL
$
423,749
419,752
-
255,209
164,543
Equity securities (amortized cost)
61,788
61,788
-
61,788
(1)
-
Other equity securities (fair value)
4,926
4,926
4,926
-
-
Loans held for sale (lower of cost or market)
15,183
15,214
-
15,214
-
Loans held for investment (amortized cost)
11,577,985
Less: ACL for loans and finance leases
(265,567)
Loans held for investment, net of ACL
$
11,312,418
11,030,421
-
-
11,030,421
MSRs (amortized cost)
28,431
45,270
-
-
45,270
Derivative assets (fair value)
 
(2)
628
628
-
628
-
Liabilities:
Deposits (amortized cost)
$
16,051,965
$
16,039,550
$
-
$
16,039,550
$
-
Short-term securities sold under agreements to repurchase (amortized
 
cost)
172,982
173,936
-
173,936
-
Advances from the FHLB (amortized cost):
 
Short-term
425,000
426,665
-
426,665
-
 
Long-term
500,000
501,990
-
501,990
-
Other long-term borrowings (amortized cost)
183,762
187,183
-
-
187,183
Derivative liabilities (fair value)
 
(2)
645
645
-
645
-
(1) Includes FHLB stock with a carrying value of $
54.2
 
million, which are considered restricted.
(2) Includes interest rate swap agreements, interest rate caps, forward contracts, interest rate lock commitments, and forward loan sales commitments.
Total Carrying
Amount in Statement
of Financial Condition
as of December 31,
2022
Fair Value Estimate as
 
of
December 31, 2022
Level 1
Level 2
Level 3
(In thousands)
Assets:
Cash and due from banks and money market investments (amortized
 
cost)
$
480,505
$
480,505
$
480,505
$
-
$
-
Available-for-sale debt
 
securities (fair value)
5,599,520
5,599,520
138,875
5,452,150
8,495
Held-to-maturity debt securities (amortized cost)
437,537
Less: ACL on held-to-maturity debt securities
(8,286)
Held-to-maturity debt securities, net of ACL
$
429,251
427,115
-
260,106
167,009
Equity securities (amortized cost)
50,428
50,428
-
50,428
(1)
-
Other equity securities (fair value)
4,861
4,861
4,861
-
-
Loans held for sale (lower of cost or market)
12,306
12,306
-
12,306
-
Loans held for investment (amortized cost)
11,552,825
Less: ACL for loans and finance leases
(260,464)
Loans held for investment, net of ACL
$
11,292,361
11,106,809
-
-
11,106,809
MSRs (amortized cost)
29,037
44,710
-
-
44,710
Derivative assets (fair value)
(2)
633
633
-
633
-
Liabilities:
Deposits (amortized cost)
$
16,143,467
$
16,139,937
$
-
$
16,139,937
$
-
Short-term securities sold under agreements to repurchase (amortized
 
cost)
75,133
75,230
-
75,230
-
Advances from the FHLB (amortized cost)
 
Short-term
475,000
474,731
-
474,731
-
 
Long-term
200,000
199,865
-
199,865
-
Other long-term borrowings (amortized cost)
183,762
187,246
-
-
187,246
Derivative liabilities (fair value)
(2)
476
476
-
476
-
(1) Includes FHLB stock with a carrying value of $
42.9
 
million, which are considered restricted.
(2) Includes interest rate swap agreements, interest rate caps, forward contracts, interest rate lock commitments, and forward loan sales commitments.
The short-term nature
 
of certain assets and
 
liabilities result in their
 
carrying value approximating
 
fair value. These include
 
cash and
cash
 
due
 
from
 
banks
 
and
 
other
 
short-term
 
assets,
 
such
 
as
 
FHLB
 
stock.
 
Certain
 
assets,
 
the
 
most
 
significant
 
being
 
premises
 
and
equipment,
 
goodwill
 
and
 
other
 
intangible
 
assets, are
 
not
 
considered
 
financial
 
instruments
 
and
 
are
 
not
 
included
 
above. Accordingly,
this fair
 
value
 
information
 
is not
 
intended
 
to, and
 
does not,
 
represent
 
the Corporation’s
 
underlying
 
value.
 
Many of
 
these assets
 
and
liabilities that
 
are subject
 
to the
 
disclosure requirements
 
are not
 
actively traded,
 
requiring management
 
to estimate
 
fair values.
 
These
estimates
 
necessarily
 
involve
 
the
 
use
 
of
 
assumptions
 
and
 
judgment
 
about
 
a
 
wide
 
variety
 
of
 
factors,
 
including
 
but
 
not
 
limited
 
to,
relevancy of market prices of comparable instruments, expected future cash flows,
 
and appropriate discount rates.
v3.23.1
REVENUE FROM CONTRACTS WITH CUSTOMERS
 3 Months Ended
Mar. 31, 2023
REVENUE FROM CONTRACTS WITH CUSTOMERS [Abstract]  
REVENUE FROM CONTRACTS WITH CUSTOMERS [Text Block]
NOTE 19 – REVENUE FROM CONTRACTS WITH CUSTOMERS
Revenue Recognition
 
In accordance with
 
ASC Topic
 
606, “Revenue from
 
Contracts with Customers” (“ASC
 
Topic
 
606”), revenues are
 
recognized when
control
 
of
 
promised
 
goods
 
or
 
services
 
is
 
transferred
 
to
 
customers
 
and
 
in
 
an
 
amount
 
that
 
reflects
 
the
 
consideration
 
to
 
which
 
the
Corporation expects to be
 
entitled in exchange for those
 
goods or services. At contract
 
inception, once the contract
 
is determined to be
within the
 
scope of
 
ASC Topic
 
606, the
 
Corporation assesses
 
the goods
 
or services
 
that are
 
promised within
 
each contract,
 
identifies
the
 
respective
 
performance
 
obligations,
 
and
 
assesses
 
whether
 
each
 
promised
 
good
 
or
 
service
 
is
 
distinct.
 
The
 
Corporation
 
then
recognizes
 
as revenue
 
the amount
 
of the
 
transaction price
 
that is
 
allocated to
 
the respective
 
performance obligation
 
when (or
 
as) the
performance obligation is satisfied.
Disaggregation of Revenue
 
The following
 
tables summarize
 
the Corporation’s
 
revenue, which
 
includes net
 
interest income
 
on financial
 
instruments and
 
non-
interest income, disaggregated by type of service and business segment for
 
the quarters ended March 31, 2023 and 2022:
Quarter ended March 31, 2023
Mortgage
Banking
Consumer
(Retail)
Banking
Commercial
and Corporate
Treasury and
Investments
United States
Operations
Virgin Islands
Operations
Total
(In thousands)
Net interest income
(1)
$
21,788
$
137,744
$
14,940
$
(658)
$
20,930
$
6,141
$
200,885
Service charges and fees on deposit accounts
-
5,486
3,154
-
165
736
9,541
Insurance commissions
-
4,640
-
-
28
179
4,847
Merchant-related income
-
2,263
-
-
29
468
2,760
Credit and debit card fees
-
7,638
22
-
2
496
8,158
Other service charges and fees
161
1,152
854
-
583
344
3,094
Not in scope of ASC Topic
 
606
 
(1)
2,913
855
145
160
40
5
4,118
 
Total non-interest income
3,074
22,034
4,175
160
847
2,228
32,518
Total Revenue
$
24,862
$
159,778
$
19,115
$
(498)
$
21,777
$
8,369
$
233,403
Quarter ended March 31, 2022
Mortgage
Banking
Consumer
(Retail)
Banking
Commercial
and Corporate
Treasury and
Investments
United States
Operations
Virgin Islands
Operations
Total
(In thousands)
Net interest income
(1)
$
25,779
$
89,546
$
40,415
$
7,409
$
16,482
$
5,993
$
185,624
Service charges and fees on deposit accounts
-
5,539
2,976
-
138
710
9,363
Insurance commissions
-
4,967
-
-
29
279
5,275
Merchant-related income
-
1,822
373
-
5
389
2,589
Credit and debit card fees
-
6,671
16
-
(7)
410
7,090
Other service charges and fees
143
1,110
1,113
-
499
157
3,022
Not in scope of ASC Topic
 
606
(1)
5,109
354
76
(112)
80
12
5,519
Total non-interest
 
income
5,252
20,463
4,554
(112)
744
1,957
32,858
Total Revenue
$
31,031
$
110,009
$
44,969
$
7,297
$
17,226
$
7,950
$
218,482
(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.
For
 
the
 
quarters
 
ended
 
March
 
31,
 
2023
 
and
 
2022,
 
most
 
of
 
the
 
Corporation’s
 
revenue
 
within
 
the
 
scope
 
of
 
ASC
 
Topic
 
606
 
was
related to performance obligations satisfied at a point in time.
See
 
Note
 
26
 
–
 
Revenue
 
from
 
Contracts
 
with
 
Customers,
 
to
 
the
 
audited
 
consolidated
 
financial
 
statements
 
included
 
in
 
the
 
2022
Annual Report on Form 10-K for a discussion of major revenue streams under
 
the scope of ASC Topic 606.
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.
 
FirstBank
 
participates
 
in
 
a
 
merchant
 
revenue-sharing
 
agreement
 
with
 
another
 
entity
 
to
 
which
 
the
 
Bank
 
sold
 
its
 
merchant
contracts portfolio and related point-of-sale terminals,
 
and a growth agreement with an international
 
card service association to expand
the
 
customer
 
base
 
and
 
enhance
 
product
 
offerings.
 
FirstBank
 
recognizes
 
the
 
revenue
 
under
 
these
 
agreements
 
over
 
time, as
 
the
 
Bank
completes its performance obligations.
The following table shows the activity of contract liabilities for the quarters
 
ended March 31, 2023 and 2022:
Quarter Ended March 31,
 
2023
2022
(In thousands)
Beginning Balance
$
841
$
1,443
Less:
 
Revenue recognized
(81)
(289)
Ending balance
$
760
$
1,154
As of March 31, 2023 and 2022, there were no contract assets recorded on
 
the Corporation’s consolidated
 
financial statements.
Other
 
Except for the contract liabilities noted above, the Corporation did not have
 
any significant performance obligations as of March 31,
2023.
 
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.
v3.23.1
SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2023
SEGMENT INFORMATION [Abstract]  
SEGMENT INFORMATION [Text Block]
NOTE 20 – 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
 
March 31,
 
2023, the
 
Corporation had
six
 
reportable
segments:
 
Mortgage
 
Banking;
 
Consumer
 
(Retail)
 
Banking;
 
Commercial
 
and
 
Corporate
 
Banking;
 
Treasury
 
and
 
Investments;
 
United
States
 
Operations;
 
and
 
Virgin
 
Islands
 
Operations.
 
Management
 
determined
 
the
 
reportable
 
segments
 
based
 
on
 
the
 
internal
 
structure
used to
 
evaluate performance
 
and to
 
assess where
 
to allocate
 
resources. Other
 
factors, such
 
as the
 
Corporation’s
 
organizational chart,
nature
 
of
 
the
 
products,
 
distribution
 
channels,
 
and
 
the
 
economic
 
characteristics
 
of
 
the
 
products,
 
were
 
also
 
considered
 
in
 
the
determination of the reportable segments.
The
 
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
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
 
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,
 
the
 
Mortgage
 
Banking,
 
the
 
Consumer
 
(Retail)
 
Banking,
 
and
 
the
 
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, to the audited consolidated financial
 
statements included in the 2022 Annual Report on Form 10-K.
The
 
Corporation
 
evaluates
 
the
 
performance
 
of
 
the
 
segments
 
based
 
on
 
net
 
interest
 
income,
 
the
 
provision
 
for
 
credit
 
losses,
 
non-
interest
 
income
 
and
 
direct
 
non-interest
 
expenses.
 
The
 
segments
 
are
 
also
 
evaluated
 
based
 
on
 
the
 
average
 
volume
 
of
 
their
 
interest-
earning assets less the ACL.
The following tables present information about the reportable segments for
 
the indicated periods:
Mortgage
Banking
Consumer
(Retail) Banking
Commercial and
Corporate
Banking
Treasury and
Investments
United States
Operations
Virgin Islands
Operations
Total
(In thousands)
For the quarter ended March 31, 2023:
Interest income
$
31,907
$
83,174
$
62,343
$
27,466
$
31,114
$
6,392
$
242,396
Net (charge) credit for transfer of funds
(10,119)
77,735
(47,403)
(19,539)
(674)
-
-
Interest expense
-
(23,165)
-
(8,585)
(9,510)
(251)
(41,511)
Net interest income (loss)
21,788
137,744
14,940
(658)
20,930
6,141
200,885
Provision for credit losses - (benefit) expense
(506)
15,224
(2,536)
(9)
4,655
(1,326)
15,502
Non-interest income
3,074
22,034
4,175
160
847
2,228
32,518
Direct non-interest expenses
5,087
41,627
9,365
947
8,304
6,825
72,155
 
Segment income (loss)
$
20,281
$
102,927
$
12,286
$
(1,436)
$
8,818
$
2,870
$
145,746
Average earnings assets
$
2,171,061
$
3,174,150
$
3,713,633
$
6,216,498
$
2,067,848
$
366,338
$
17,709,528
Mortgage
Banking
Consumer
(Retail) Banking
Commercial and
Corporate
Banking
Treasury and
Investments
United States
Operations
Virgin Islands
Operations
Total
(In thousands)
For the quarter ended March 31, 2022:
Interest income
$
33,071
$
70,437
$
47,027
$
22,184
$
18,857
$
6,278
$
197,854
Net (charge) credit for transfer of funds
(7,292)
24,282
(6,612)
(9,949)
(429)
-
-
Interest expense
-
(5,173)
-
(4,826)
(1,946)
(285)
(12,230)
Net interest income
 
25,779
89,546
40,415
7,409
16,482
5,993
185,624
Provision for credit losses - (benefit) expense
(3,703)
11,144
(16,622)
(388)
(3,547)
(686)
(13,802)
Non-interest income (loss)
5,252
20,463
4,554
(112)
744
1,957
32,858
Direct non-interest expenses
6,906
39,271
8,859
885
8,479
6,973
71,373
 
Segment income
$
27,828
$
59,594
$
52,732
$
6,800
$
12,294
$
1,663
$
160,911
Average earnings assets
$
2,293,648
$
2,759,482
$
3,664,104
$
8,145,949
$
2,065,638
$
378,169
$
19,306,990
The following table presents a reconciliation of the reportable segment financial information to the consolidated totals for the indicated periods:
Quarter Ended March 31,
2023
2022
(In thousands)
Net income:
 
Total income for segments
 
$
145,746
$
160,911
Other operating expenses
 
(1)
43,113
35,286
Income before income taxes
102,633
125,625
Income tax expense
31,935
43,025
 
Total consolidated net income
$
70,698
$
82,600
Average assets:
Total average earning assets for segments
 
$
17,709,528
$
19,306,990
Average non-earning assets
 
847,628
947,011
 
Total consolidated average assets
$
18,557,156
$
20,254,001
(1)
Expenses pertaining to corporate administrative functions that support
 
the operating segment, but are not specifically attributable
 
to or managed by any segment, are not included in the
reported financial results of the operating segments. The
 
unallocated corporate expenses include certain general and administrative
 
expenses and related depreciation and amortization
expenses.
v3.23.1
SUPPLEMENTAL STATEMENT OF CASH FLOWS INFORMATION
 3 Months Ended
Mar. 31, 2023
SUPPLEMENTAL STATEMENT OF CASH FLOWS INFORMATION [Abstract]  
SUPPLEMENTAL STATEMENT OF CASH FLOWS INFORMATION [Text Block]
NOTE 21 – SUPPLEMENTAL
 
STATEMENT
 
OF CASH FLOWS INFORMATION
 
Supplemental statement of cash flows information is as follows for the indicated
 
periods:
Quarter Ended March 31,
 
2023
2022
(In thousands)
Cash paid for:
 
Interest on borrowings
$
37,798
$
13,300
 
Income tax
 
10,926
2,598
 
Operating cash flow from operating leases
4,316
4,751
Non-cash investing and financing activities:
 
Additions to OREO
6,414
6,770
 
Additions to auto and other repossessed assets
15,356
10,772
 
Capitalization of servicing assets
532
1,130
 
Loan securitizations
28,736
40,823
 
Loans held for investment transferred to held for sale
2,345
1,176
 
Payable related to unsettled purchases of available-for-sale debt securities
-
15,000
 
ROU assets obtained in exchange for operating lease liabilities
1,630
2,791
v3.23.1
REGULATORY MATTERS, COMMITMENTS, AND CONTINGENCIES
 3 Months Ended
Mar. 31, 2023
REGULATORY MATTERS, COMMITMENTS, AND CONTINGENCIES [Abstract]  
REGULATORY MATTERS, COMMITMENTS, AND CONTINGENCIES [Text Block]
NOTE 22 – REGULATORY
 
MATTERS, COMMITMENTS,
 
AND CONTINGENCIES
Regulatory Matters
The
 
Corporation
 
and
 
FirstBank
 
are
 
each
 
subject
 
to
 
various
 
regulatory
 
capital
 
requirements
 
imposed
 
by
 
the
 
U.S.
 
federal
 
banking
agencies. Failure
 
to meet
 
minimum capital
 
requirements can
 
result in
 
certain mandatory
 
and possibly
 
additional discretionary
 
actions
by regulators
 
that, if
 
undertaken, could
 
have a
 
direct material
 
adverse effect
 
on the
 
Corporation’s
 
financial statements
 
and activities.
Under
 
capital
 
adequacy
 
guidelines
 
and
 
the
 
regulatory
 
framework
 
for
 
prompt
 
corrective
 
action,
 
the
 
Corporation
 
must
 
meet
 
specific
capital
 
guidelines
 
that
 
involve
 
quantitative
 
measures
 
of
 
the Corporation’s
 
and
 
FirstBank’s
 
assets,
 
liabilities,
 
and
 
certain
 
off-balance
sheet items
 
as calculated
 
under regulatory
 
accounting practices.
 
The Corporation’s
 
capital amounts
 
and classification
 
are also
 
subject
to qualitative judgments and
 
adjustment by the regulators with respect
 
to minimum capital requirements, components,
 
risk weightings,
and
 
other factors.
 
As of
 
March 31,
 
2023 and
 
December 31,
 
2022,
 
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
 
March
 
31,
 
2023,
 
management
 
does
 
not
believe that any condition has changed or event has occurred that would have
 
changed the institution’s status.
The Corporation and FirstBank
 
compute risk-weighted assets
 
using the standardized approach
 
required by the U.S.
 
Basel III capital
rules (“Basel III rules”).
The
 
Basel
 
III
 
rules
 
require
 
the
 
Corporation
 
to
 
maintain
 
an
 
additional
 
capital
 
conservation
 
buffer
 
of
2.5
%
 
on
 
certain
 
regulatory
capital
 
ratios
 
to
 
avoid
 
limitations
 
on
 
both
 
(i)
 
capital
 
distributions
 
(
e.g.
,
 
repurchases
 
of
 
capital
 
instruments,
 
dividends
 
and
 
interest
payments on capital instruments) and (ii) discretionary bonus payments
 
to executive officers and heads of major business lines.
As part
 
of its
 
response to
 
the impact
 
of COVID-19,
 
on March
 
31, 2020,
 
the federal
 
banking agencies
 
issued an
 
interim final
 
rule
that
 
provided
 
the
 
option
 
to
 
temporarily
 
delay
 
the
 
effects
 
of
 
CECL
 
on
 
regulatory
 
capital
 
for
 
two
 
years,
 
followed
 
by
 
a
 
three-year
transition
 
period.
 
The
 
interim
 
final
 
rule
 
provides
 
that,
 
at
 
the
 
election
 
of
 
a
 
qualified
 
banking
 
organization,
 
the
 
day
 
one
 
impact
 
to
retained earnings plus
25
% of the change in
 
the ACL (as defined
 
in the final rule) from
 
January 1, 2020 to
 
December 31, 2021 will
 
be
delayed
 
for
 
two
 
years
 
and
 
phased-in
 
at
25
%
 
per
 
year
 
beginning
 
on
 
January
 
1,
 
2022
 
over
 
a
 
three-year
 
period,
 
resulting
 
in
 
a
 
total
transition
 
period
 
of
 
five
 
years.
 
Accordingly,
 
as
 
of
 
March
 
31,
 
2023,
 
the
 
capital
 
measures
 
of
 
the
 
Corporation
 
and
 
the
 
Bank
 
included
$
32.4
 
million associated
 
with the
 
CECL day
 
one impact
 
to retained
 
earnings plus
25
% of
 
the increase
 
in the
 
ACL (as
 
defined in
 
the
interim
 
final
 
rule)
 
from
 
January
 
1,
 
2020
 
to
 
December
 
31,
 
2021,
 
and
 
$
32.4
 
million
 
remains
 
excluded
 
to
 
be
 
phase-in
 
during
 
the
remainder of
 
the three-year
 
transition period.
 
The federal
 
financial regulatory
 
agencies may
 
take other
 
measures affecting
 
regulatory
capital
 
to
 
address
 
the
 
COVID-19
 
pandemic
 
and
 
related
 
macroeconomic
 
conditions,
 
although
 
the
 
nature
 
and
 
impact
 
of
 
such
 
actions
cannot be predicted at this time.
The regulatory
 
capital position
 
of the
 
Corporation and
 
the FirstBank as
 
of March
 
31, 2023
 
and December
 
31, 2022,
 
which reflects
the delay in the full effect of CECL on regulatory capital, were
 
as follows:
Regulatory Requirements
Actual
For Capital Adequacy Purposes
To be Well
 
-Capitalized
Thresholds
 
Amount
Ratio
Amount
Ratio
Amount
Ratio
(Dollars in thousands)
As of March 31, 2023
Total Capital (to Risk-Weighted
 
Assets)
 
First BanCorp.
$
2,366,591
19.02
%
$
995,597
8.0
%
N/A
N/A
%
 
FirstBank
$
2,327,600
18.71
%
$
995,452
8.0
%
$
1,244,315
10.0
%
CET1 Capital (to Risk-Weighted Assets)
 
First BanCorp.
$
2,032,369
16.33
%
$
560,023
4.5
%
N/A
N/A
%
 
FirstBank
$
2,071,650
16.65
%
$
559,942
4.5
%
$
808,805
6.5
%
Tier I Capital (to Risk-Weighted
 
Assets)
 
First BanCorp.
$
2,032,369
16.33
%
$
746,697
6.0
%
N/A
N/A
%
 
FirstBank
$
2,171,650
17.45
%
$
746,589
6.0
%
$
995,452
8.0
%
Leverage ratio
 
First BanCorp.
$
2,032,369
10.57
%
$
769,399
4.0
%
N/A
N/A
%
 
FirstBank
$
2,171,650
11.29
%
$
769,102
4.0
%
$
961,378
5.0
%
As of December 31, 2022
Total Capital (to Risk-Weighted
 
Assets)
 
First BanCorp.
$
2,385,866
19.21
%
$
993,405
8.0
%
N/A
N/A
%
 
FirstBank
$
2,346,093
18.90
%
$
993,264
8.0
%
$
1,241,580
10.0
%
CET1 Capital (to Risk-Weighted Assets)
 
First BanCorp.
$
2,052,333
16.53
%
$
558,790
4.5
%
N/A
N/A
%
 
FirstBank
$
2,090,832
16.84
%
$
558,711
4.5
%
$
807,027
6.5
%
Tier I Capital (to Risk-Weighted
 
Assets)
 
First BanCorp.
$
2,052,333
16.53
%
$
745,054
6.0
%
N/A
N/A
%
 
FirstBank
$
2,190,832
17.65
%
$
744,948
6.0
%
$
993,264
8.0
%
Leverage ratio
 
First BanCorp.
$
2,052,333
10.70
%
$
767,075
4.0
%
N/A
N/A
%
 
FirstBank
$
2,190,832
11.43
%
$
766,714
4.0
%
$
958,392
5.0
%
Commitments
The Corporation enters
 
into financial instruments
 
with off-balance sheet
 
risk in the normal
 
course of business to
 
meet the financing
needs
 
of
 
its
 
customers.
 
These
 
financial
 
instruments
 
may
 
include
 
commitments
 
to
 
extend
 
credit
 
and
 
standby
 
letters
 
of
 
credit.
Commitments to extend credit are agreements
 
to lend to a customer as long
 
as there is no violation of any conditions
 
established in the
contract. Commitments
 
generally have fixed
 
expiration dates or
 
other termination clauses.
 
Since certain commitments
 
are expected
 
to
expire without
 
being drawn
 
upon, the
 
total commitment
 
amount does
 
not necessarily
 
represent future
 
cash requirements.
 
For most
 
of
the
 
commercial
 
lines
 
of
 
credit,
 
the
 
Corporation
 
has
 
the
 
option
 
to
 
reevaluate
 
the
 
agreement
 
prior
 
to
 
additional
 
disbursements.
 
In
 
the
case of credit cards and personal lines of credit, the Corporation can
 
cancel the unused credit facility at any time and without cause.
 
As
of March 31, 2023,
 
commitments to extend
 
credit amounted to approximately
 
$
2.0
 
billion, of which $
0.9
 
billion relates to retail
 
credit
card
 
loans.
 
In
 
addition,
 
commercial
 
and
 
financial
 
standby
 
letters
 
of
 
credit
 
as
 
of
 
March
 
31,
 
2023
 
amounted
 
to
 
approximately
 
$
93.6
million.
Contingencies
As
 
of
 
March
 
31,
 
2023,
 
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 March 31, 2023, no such disclosures were necessary.
v3.23.1
FIRST BANCORP. (Holding Company Only) Financial Information
 3 Months Ended
Mar. 31, 2023
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
FIRST BANCORP. (Holding Company Only) Financial Information [Text Block]
NOTE 23- FIRST BANCORP.
 
(HOLDING COMPANY
 
ONLY) FINANCIAL
 
INFORMATION
The following
 
condensed financial information
 
presents the financial
 
position of
 
First BanCorp.
 
at the holding
 
company level only
as of March 31, 2023 and December 31, 2022, and the results of its operations
 
for the quarters ended March 31, 2023 and 2022:
Statements of Financial Condition
As of March 31,
 
As of December 31,
2023
2022
(In thousands)
Assets
Cash and due from banks
$
13,981
$
19,279
Other investment securities
735
735
Investment in First Bank Puerto Rico, at equity
1,544,874
1,464,026
Investment in First Bank Insurance Agency,
 
at equity
32,374
28,770
Investment in FBP Statutory Trust I
1,951
1,951
Investment in FBP Statutory Trust II
3,561
3,561
Dividends receivable
637
624
Other assets
426
430
 
Total assets
$
1,598,539
$
1,519,376
Liabilities and Stockholders’ Equity
Liabilities:
Long-term borrowings
 
$
183,762
$
183,762
Accounts payable and other liabilities
9,184
10,074
 
Total liabilities
192,946
193,836
Stockholders’ equity
1,405,593
1,325,540
 
Total liabilities and stockholders’
 
equity
$
1,598,539
$
1,519,376
Statements of Income
 
Quarter Ended March 31,
2023
2022
(In thousands)
Income
 
 
Interest income on money market investments
 
$
53
$
4
 
Dividend income from banking subsidiaries
78,870
63,593
 
Other income
102
40
 
Total income
79,025
63,637
Expense
 
Other borrowings
3,381
1,333
 
Other operating expenses
410
439
 
Total expense
3,791
1,772
Income before income taxes and equity in undistributed
 
earnings of subsidiaries
75,234
61,865
Income tax expense
1,078
1,106
Equity in undistributed earnings of subsidiaries (distribution in excess of
 
earnings)
(3,458)
21,841
Net income
$
70,698
$
82,600
Other comprehensive income (loss), net of tax
87,228
(331,834)
Comprehensive income (loss)
$
157,926
$
(249,234)
v3.23.1
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)
 3 Months Ended
Mar. 31, 2023
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES [Abstract]  
Principles of consolidation [Policy Text Block]
The
 
Consolidated Financial
 
Statements (unaudited)
 
for
 
the
 
quarter
 
ended
 
March
 
31,
 
2023
 
(the
 
“unaudited consolidated
 
financial
statements”)
 
of
 
First
 
BanCorp.
 
(the
 
“Corporation”)
 
have
 
been
 
prepared
 
in
 
conformity
 
with
 
the
 
accounting
 
policies
 
stated
 
in
 
the
Corporation’s Audited
 
Consolidated
 
Financial
 
Statements
 
for the fiscal
 
year ended December
 
31, 2022 (the
 
“audited consolidated
 
financial
statements”)
 
included
 
in the 2022
 
Annual Report
 
on Form
 
10-K, as
 
updated
 
by the information
 
contained
 
in this
 
report.
 
Certain information
and note disclosures
 
normally included
 
in the financial
 
statements
 
prepared in accordance
 
with generally
 
accepted accounting
 
principles
 
in
the United States
 
of America
 
(“GAAP”)
 
have been condensed
 
or omitted
 
from these statements
 
pursuant to
 
the rules and
 
regulations
 
of the
SEC and, accordingly, these financial statements
 
should be read in conjunction with the audited consolidated
 
financial statements,
 
which
are included in the 2022 Annual Report on Form 10-K. All adjustments
 
(consisting only of normal
 
recurring adjustments)
 
that are, in the
opinion of management,
 
necessary for
 
a fair presentation
 
of the statement
 
of financial
 
position, results
 
of operations
 
and cash flows for
 
the
interim
 
periods
 
have been
 
reflected.
 
All significant
 
intercompany
 
accounts
 
and transactions
 
have been
 
eliminated
 
in consolidation.
Adoption of New Accounting Requirements And Recently Issued Accounting Standards Not Yet Effective or Not Yet Adopted [Policy Text Block]
Adoption
 
of New Accounting
 
Requirements
Accounting Standards Update (“ASU”) 2022-02, “Financial Instruments
 
– Credit
 
Losses (Topic 326):
 
Troubled Debt
 
Restructurings
and Vintage Disclosures”
Effective
 
January
 
1,
 
2023,
 
the
 
Corporation
 
adopted
 
ASU
 
2022-02,
 
which
 
removed
 
the
 
existing
 
measurement
 
and
 
disclosure
requirements
 
for Troubled
 
Debt Restructured
 
(“TDR”) loans,
 
added additional
 
disclosure
 
requirements
 
related to
 
modifications
 
provided
 
to
borrowers experiencing
 
financial difficulty
 
regardless of whether
 
the refinancing
 
is accounted for as a new loan,
 
and amends the guidance
on vintage
 
disclosures
 
to require
 
disclosure
 
of gross
 
charge-offs by
 
year of
 
origination.
 
Prior to
 
adoption,
 
a change
 
in contractual
 
terms of
 
a
loan where a borrower
 
was experiencing
 
financial difficulty
 
and received
 
a concession
 
not available
 
through other
 
sources was required
 
to
be disclosed
 
as a TDR, whereas
 
now a borrower
 
that is experiencing
 
financial
 
difficulty
 
and there
 
has been a direct
 
change to the
 
timing or
amount of contractual
 
cash flows in the form of principal
 
forgiveness, interest
 
rate reduction,
 
an other-than-insignificant
 
payment delay, a
term extension,
 
or any combination
 
of these types of loan modifications
 
in the current period
 
needs to be disclosed. ASU
 
2022-02 did not
amend the
 
definition
 
of financial
 
difficulty.
 
Modifications
 
of receivables are within the scope of ASU 2022-02 if they are accounted for in accordance with Accounting
 
Standards
Codification (“ASC”)
 
310-20.
 
As
 
such,
 
finance
 
leases
 
are
 
not
 
within
 
the
 
scope
 
of
 
ASU
 
2022-02.
 
Such
 
modifications are
 
evaluated
following the requirements in
 
ASC 310-20
 
to determine whether
 
they should
 
be accounted
 
for as
 
a
 
new loan
 
or
 
a
 
continuation of the
existing
 
loan.
 
ASU 2022-02 also eliminated
 
the requirement
 
to use a discounted cash flow method
 
for TDRs for the determination
 
of the ACL, and
allows
 
the
 
option
 
of
 
a
 
non-discounted cash
 
flow
 
portfolio-based approach
 
for
 
modified
 
loans
 
to
 
borrowers
 
experiencing
 
financial
difficulties.
The
 
Corporation
 
elected
 
to
 
apply
 
a
 
non-discounted
 
cash
 
flow,
 
portfolio-based ACL
 
approach
 
for
 
modified
 
loans
 
to
 
borrowers
experiencing
 
financial
 
difficulties
 
for all
 
portfolios,
 
using a modified
 
retrospective
 
transition
 
method.
 
The adoption
 
resulted
 
in a net
 
increase
to
 
the ACL
 
of
 
approximately $
2.1
 
million and
 
a
 
decrease to
 
retained earnings of
 
approximately $
1.3
 
million, after tax,
 
predominantly
driven by residential
 
mortgage
 
loans. The
 
amount of
 
defined modifications
 
given to borrowers
 
experiencing
 
financial
 
difficulty
 
is disclosed
in Note
 
3 – Loans
 
Held for
 
Investment,
 
along with
 
the financial
 
impact of
 
those modifications.
The Corporation
 
was not
 
impacted
 
by the adoption
 
of the following
 
ASUs during
 
the first
 
quarter of
 
2023:
●
ASU 2022-01,
 
“Derivatives
 
and Hedging
 
(Topic 815): Fair
 
Value Hedging – Portfolio
 
Layer Method”
●
ASU 2021-08, “Business
 
Combinations
 
(Topic 805): Accounting for Contract
 
Assets and Contract Liabilities
 
From Contracts
With Customers”
 
Recently Issued Accounting Standards Not Yet
 
Effective or Not Yet
 
Adopted
Standard
Description
Effective Date
Effect on the financial statements
ASU 2023-02, "Investments -
Equity Method and Joint Ventures
(Topic 323): Accounting for
Investments in Tax Credit
Structures Using the Proportional
Amortization Method"
In March 2023, the FASB issued
ASU 2023-02 which, among other
things, allows tax equity
investments, regardless of the tax
credit program from which the
income tax credits are received, to
be accounted for using the
proportional amortization method if
certain conditions are met and
requires specific disclosures of
such investments. The election
needs to be made on a tax-credit-
program-by-tax-credit-program
basis.
January 1, 2024. Early adoption is
permitted in any interim period.
The Corporation does not expect to
be impacted by the amendments of
this ASU since it does not hold tax
equity investments.
ASU 2023-01, "Leases (Topic
842): Common Control
Arrangements"
In March 2023, the FASB issued
ASU 2023-01 which, among other
things, generally requires a lessee
in a common-control lease
arrangement to amortize leasehold
improvements over the useful life
regardless of the lease term, subject
to certain exceptions. In addition, a
lessee that no longer controls the
use of the underlying asset will
account for the transfer of the
underlying asset as an adjustment
to equity.
January 1, 2024. Early adoption is
permitted for both interim and
annual financial statements that
have not yet been made available
for issuance.
The Corporation is evaluating the
impact that this ASU will have on its
financial statements. The
Corporation does not expect to be
materially impacted by the adoption
of this ASU during the first quarter
of 2024.
For
 
other
 
issued
 
accounting
 
standards
 
not
 
yet
 
effective
 
or
 
not
 
yet
 
adopted,
 
see
 
Note
 
1
 
–
 
Nature
 
of
 
Business
 
and
 
Summary
 
of
Significant Accounting Policies, to the audited consolidated financial
 
statements included in the 2022 Annual Report on Form 10-K.
v3.23.1
DEBT SECURITIES (Tables)
 3 Months Ended
Mar. 31, 2023
Other Than Temporary Impairment Credit Losses Recognized In Earnings [Line Items]  
Debt Securities, Available-for-sale, Allowance for Credit Loss [Table Text Block]
Quarter Ended March 31, 2023
Private label MBS
Puerto Rico
 
Government
Obligations
Total
(In thousands)
Beginning balance
$
83
$
375
$
458
Provision for credit losses - benefit
-
(9)
(9)
 
ACL on available-for-sale debt securities
$
83
$
366
$
449
Quarter Ended March 31, 2022
Private label MBS
Puerto Rico
 
Government
Obligations
Total
(In thousands)
Beginning balance
$
797
$
308
$
1,105
Provision for credit losses - benefit
(388)
-
(388)
Net charge-offs
(6)
-
(6)
 
ACL on available-for-sale debt securities
$
403
$
308
$
711
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Table Text Block]
Puerto Rico Municipal Bonds
Quarter Ended
March 31, 2023
March 31, 2022
(In thousands)
Beginning Balance
$
8,286
$
8,571
Provision for credit losses - (benefit) expense
(640)
3,753
ACL on held-to-maturity debt securities
$
7,646
$
12,324
Significant Assumptions in Valuation of Private Label MBS [Table Text Block]
The tables below present quantitative information for significant assets measured at fair
 
value on a recurring basis using significant
unobservable inputs (Level 3) as of March 31, 2023 and December 31, 2022:
March 31, 2023
Fair Value
Valuation Technique
Unobservable Input
Range
Weighted
Average
Minimum
 
Maximum
(Dollars in thousands)
Available-for-sale
 
debt securities:
 
Private label MBS
$
5,402
Discounted cash flows
Discount rate
16.0%
16.0%
16.0%
Prepayment rate
1.6%
12.6%
9.2%
Projected cumulative loss rate
0.2%
14.9%
5.2%
 
Puerto Rico government obligations
$
2,203
Discounted cash flows
Discount rate
12.8%
12.8%
12.8%
Projected cumulative loss rate
19.0%
19.0%
19.0%
December 31, 2022
Fair Value
Valuation Technique
Unobservable Input
Range
Weighted
Average
Minimum
 
Maximum
(Dollars in thousands)
Available-for-sale
 
debt securities:
 
Private label MBS
$
5,794
Discounted cash flows
Discount rate
16.2%
16.2%
16.2%
Prepayment rate
1.5%
15.2%
11.8%
Projected cumulative loss rate
0.3%
15.6%
5.6%
 
Puerto Rico government obligations
$
2,201
Discounted cash flows
Discount rate
12.9%
12.9%
12.9%
Projected cumulative loss rate
19.3%
19.3%
19.3%
Held-to-maturity Securities [Member]  
Other Than Temporary Impairment Credit Losses Recognized In Earnings [Line Items]  
Investments Classified by Contractual Maturity Date [Table Text Block]
The
 
amortized
 
cost,
 
gross
 
unrecognized
 
gains
 
and
 
losses,
 
estimated
 
fair
 
value,
 
ACL,
 
weighted-average
 
yield
 
and
 
contractual
maturities of held-to-maturity debt securities as of March 31, 2023 and
 
December 31, 2022 were as follows
March 31, 2023
Amortized cost
(1)
Gross Unrecognized
Fair value
Weighted-
Gains
Losses
ACL
average yield%
(Dollars in thousands)
Puerto Rico municipal bonds:
 
Due within one year
$
1,204
$
-
$
10
$
1,194
$
24
5.70
 
After 1 to 5 years
42,633
679
1,001
42,311
659
6.74
 
After 5 to 10 years
55,940
1,482
603
56,819
2,918
7.10
 
After 10 years
66,023
-
1,804
64,219
4,045
8.12
Total Puerto Rico municipal bonds
165,800
2,161
3,418
164,543
7,646
7.40
MBS:
 
Residential MBS:
FHLMC certificates:
After 5 to 10 years
$
20,129
$
-
$
762
$
19,367
$
-
3.03
After 10 years
19,176
-
596
18,580
-
4.30
39,305
-
1,358
37,947
-
3.65
GNMA certificates:
`
After 10 years
18,502
-
795
17,707
-
3.31
FNMA certificates:
After 10 years
71,258
-
2,190
69,068
-
4.16
CMOs:
After 10 years
32,522
-
1,154
31,368
-
3.49
Total Residential MBS
161,587
-
5,497
156,090
-
3.81
 
Commercial MBS:
After 1 to 5 years
9,576
-
348
9,228
-
3.48
After 10 years
94,432
-
4,541
89,891
-
3.15
Total Commercial MBS
104,008
-
4,889
99,119
-
3.18
Total MBS
265,595
-
10,386
255,209
-
3.56
Total held-to-maturity debt securities
$
431,395
$
2,161
$
13,804
$
419,752
$
7,646
5.04
(1)
Excludes accrued interest receivable on held-to-maturity debt securities that totaled $
3.7
 
million as of March 31, 2023, 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.
December 31, 2022
Amortized cost
(1)
Gross Unrecognized
Fair value
Weighted-
Gains
Losses
ACL
average yield%
(Dollars in thousands)
Puerto Rico municipal bonds:
 
Due within one year
$
1,202
$
-
$
15
$
1,187
$
2
5.20
 
After 1 to 5 years
42,530
886
1,076
42,340
656
6.34
 
After 5 to 10 years
55,956
3,182
360
58,778
3,243
6.29
 
After 10 years
66,022
-
1,318
64,704
4,385
7.10
Total held-to-maturity debt securities
$
165,710
$
4,068
$
2,769
$
167,009
$
8,286
6.62
MBS:
 
Residential MBS:
FHLMC certificates:
After 5 to 10 years
$
21,443
$
-
$
746
$
20,697
$
-
3.03
After 10 years
19,362
-
888
18,474
-
4.21
40,805
-
1,634
39,171
-
3.59
GNMA certificates:
`
After 10 years
19,131
-
943
18,188
-
3.35
FNMA certificates:
After 10 years
72,347
-
3,155
69,192
-
4.14
CMOs:
After 10 years
34,456
-
1,424
33,032
-
3.49
Total Residential MBS
166,739
-
7,156
159,583
-
3.78
 
Commercial MBS:
After 1 to 5 years
9,621
-
396
9,225
-
3.48
After 10 years
95,467
-
4,169
91,298
-
3.15
Total Commercial MBS
105,088
-
4,565
100,523
-
3.18
Total MBS
271,827
-
11,721
260,106
-
3.55
Total held-to-maturity debt securities
$
437,537
$
4,068
$
14,490
$
427,115
$
8,286
4.71
(1)
Excludes accrued interest receivable on held-to-maturity debt securities that totaled $
5.5
 
million as of December 31, 2022, 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.
Schedule of Unrealized Loss on Investments [Table Text Block]
The
 
following
 
tables
 
present
 
the
 
Corporation’s
 
held-to-maturity
 
debt
 
securities’
 
fair
 
value
 
and
 
gross
 
unrecognized
 
losses,
aggregated by
 
category and length
 
of time that
 
individual securities had
 
been in a
 
continuous unrecognized
 
loss position, as
 
of March
31, 2023 and December 31, 2022, including debt securities for which
 
an ACL was recorded:
As of March 31, 2023
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
$
-
$
-
$
108,266
$
3,418
$
108,266
$
3,418
 
MBS:
 
Residential MBS:
 
FHLMC certificates
37,947
1,358
-
-
37,947
1,358
 
GNMA certificates
17,707
795
-
-
17,707
795
 
FNMA certificates
69,068
2,190
-
-
69,068
2,190
 
CMOs
31,368
1,154
-
-
31,368
1,154
 
Commercial MBS
99,119
4,889
-
-
99,119
4,889
Total held-to-maturity debt securities
$
255,209
$
10,386
$
108,266
$
3,418
$
363,475
$
13,804
As of December 31, 2022
Less than 12 months
12 months or more
Total
Unrecognized
Unrecognized
Unrecognized
Fair Value
 
Losses
Fair Value
 
Losses
Fair Value
 
Losses
(In thousands)
Debt securities:
 
Puerto Rico municipal bonds
$
-
$
-
$
98,797
$
2,769
$
98,797
$
2,769
 
MBS:
 
Residential MBS:
 
FHLMC certificates
39,171
1,634
-
-
39,171
1,634
 
GNMA certificates
18,188
943
-
-
18,188
943
 
FNMA certificates
69,192
3,155
-
-
69,192
3,155
 
CMOs
33,032
1,424
-
-
33,032
1,424
 
Commercial MBS
100,523
4,565
-
-
100,523
4,565
Total held-to-maturity debt securities
$
260,106
$
11,721
$
98,797
$
2,769
$
358,903
$
14,490
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,
 
ACL, estimated
 
fair value,
 
and weighted-average
 
yield of
 
available-for-sale
debt securities by contractual maturities as of March 31, 2023 were as follows:
March 31, 2023
Amortized cost
(1)
Gross
ACL
Fair value
Unrealized
Weighted-
Gains
Losses
average yield%
(Dollars in thousands)
U.S. Treasury securities:
 
Due within one year
$
27,744
$
-
$
890
$
-
$
26,854
0.61
 
After 1 to 5 years
120,916
-
7,348
-
113,568
0.69
U.S. government-sponsored entities (“GSEs”) obligations:
 
Due within one year
189,174
-
5,100
-
184,074
0.42
 
After 1 to 5 years
2,349,522
22
190,986
-
2,158,558
0.84
 
After 5 to 10 years
41,916
8
4,998
-
36,926
1.64
 
After 10 years
11,625
27
-
-
11,652
5.15
Puerto Rico government obligations:
 
After 10 years
(2)
3,302
-
733
366
2,203
-
United States and Puerto Rico government obligations
2,744,199
57
210,055
366
2,533,835
0.83
Mortgage-backed securities (“MBS”):
 
Residential MBS:
 
Freddie Mac (“FHLMC”) certificates:
 
After 1 to 5 years
10,023
-
454
-
9,569
1.98
 
After 5 to 10 years
187,007
-
15,912
-
171,095
1.56
 
After 10 years
1,068,680
-
170,021
-
898,659
1.41
 
1,265,710
-
186,387
-
1,079,323
1.44
 
Ginnie Mae (“GNMA”) certificates:
 
 
Due within one year
3
-
-
-
3
2.42
 
After 1 to 5 years
23,293
-
1,253
-
22,040
1.31
 
After 5 to 10 years
33,939
-
2,720
-
31,219
1.69
 
 
After 10 years
225,680
119
24,080
-
201,719
2.58
282,915
119
28,053
-
254,981
2.37
 
Fannie Mae (“FNMA”) certificates:
 
After 1 to 5 years
24,446
-
1,249
-
23,197
1.72
 
 
After 5 to 10 years
353,397
-
28,963
-
324,434
1.74
 
After 10 years
1,133,757
104
168,025
-
965,836
1.37
 
1,511,600
104
198,237
-
1,313,467
1.47
 
Collateralized mortgage obligations issued or
 
guaranteed by the FHLMC, FNMA and
 
GNMA (“CMOs”):
 
After 10 years
296,022
-
52,540
-
243,482
1.49
 
Private label:
 
After 10 years
7,695
-
2,210
83
5,402
7.25
Total Residential MBS
3,363,942
223
467,427
83
2,896,655
1.55
 
Commercial MBS:
 
After 1 to 5 years
27,584
7
4,551
-
23,040
2.27
 
After 5 to 10 years
44,584
-
4,929
-
39,655
1.90
 
After 10 years
120,387
-
24,316
-
96,071
1.23
Total Commercial MBS
192,555
7
33,796
-
158,766
1.53
Total MBS
3,556,497
230
501,223
83
3,055,421
1.54
Total available-for-sale debt securities
$
6,300,696
$
287
$
711,278
$
449
$
5,589,256
1.23
(1)
Excludes accrued interest receivable on available-for-sale debt securities that totaled $
10.7
 
million as of March 31, 2023 reported as part of accrued interest receivable on loans and investment securities in the
consolidated statements of financial condition, and excluded from the estimate of credit losses.
(2)
Consists of a residential pass-through MBS issued by the Puerto Rico Housing Finance Authority (“PRHFA”) that is collateralized by certain second mortgages originated under a program launched by the Puerto Rico
government in 2010 and is in nonaccrual status based on the delinquency status of the underlying second mortgage loans collateral.
December 31, 2022
Amortized cost
 
(1)
Gross
ACL
Fair value
Unrealized
Weighted-
Gains
Losses
average yield%
(Dollars in thousands)
U.S. Treasury securities:
 
Due within one year
$
7,493
$
-
$
309
$
-
$
7,184
0.22
 
After 1 to 5 years
141,366
-
9,675
-
131,691
0.70
U.S. GSEs’ obligations:
 
Due within one year
129,018
-
4,036
-
124,982
0.32
 
After 1 to 5 years
2,395,273
22
227,724
-
2,167,571
0.83
 
After 5 to 10 years
56,251
13
7,670
-
48,594
1.54
 
After 10 years
12,170
36
-
-
12,206
4.62
Puerto Rico government obligations:
 
After 10 years
(2)
3,331
-
755
375
2,201
-
United States and Puerto Rico government obligations
2,744,902
71
250,169
375
2,494,429
0.83
MBS:
 
Residential MBS:
 
FHLMC certificates:
 
After 1 to 5 years
4,235
-
169
-
4,066
2.33
 
After 5 to 10 years
201,072
-
18,709
-
182,363
1.55
 
After 10 years
1,092,289
-
186,558
-
905,731
1.38
1,297,596
-
205,436
-
1,092,160
1.41
 
GNMA certificates:
 
 
Due within one year
5
-
-
-
5
1.73
 
After 1 to 5 years
15,508
-
622
-
14,886
2.00
 
After 5 to 10 years
45,322
1
3,809
-
41,514
1.31
 
 
After 10 years
232,632
51
27,169
-
205,514
2.47
293,467
52
31,600
-
261,919
2.27
 
FNMA certificates:
 
After 1 to 5 years
9,685
-
521
-
9,164
1.76
 
 
After 5 to 10 years
358,346
-
31,620
-
326,726
1.68
 
After 10 years
1,186,635
124
186,757
-
1,000,002
1.38
 
1,554,666
124
218,898
-
1,335,892
1.45
 
CMOs:
 
After 10 years
302,232
-
56,539
-
245,693
1.44
 
Private label:
 
After 10 years
7,903
-
2,026
83
5,794
6.83
Total Residential MBS
3,455,864
176
514,499
83
2,941,458
1.52
 
Commercial MBS:
 
After 1 to 5 years
30,578
-
4,463
-
26,115
2.43
 
 
After 5 to 10 years
44,889
-
5,603
-
39,286
1.89
 
After 10 years
121,464
-
23,732
-
97,732
1.23
Total Commercial MBS
196,931
-
33,798
-
163,133
1.56
Total MBS
3,652,795
176
548,297
83
3,104,591
1.52
Other
Due within one year
500
-
-
-
500
0.84
Total available-for-sale debt securities
$
6,398,197
$
247
$
798,466
458
$
5,599,520
1.22
(1)
Excludes accrued interest receivable on available-for-sale debt securities that totaled $
11.1
 
million as of December 31, 2022 reported as part of accrued interest receivable on loans and investment securities in the
consolidated statements of financial condition, and excluded from the estimate of credit losses.
(2)
Consists of a residential pass-through MBS issued by the PRHFA that is collateralized by certain second mortgages originated under a program launched by the Puerto Rico government in 2010 and is in nonaccrual
status based on the delinquency status of the underlying second mortgage loans collateral.
Schedule of Unrealized Loss on Investments [Table Text Block]
The
 
following
 
tables
 
present
 
the
 
fair
 
value
 
and
 
gross
 
unrealized
 
losses
 
of
 
the
 
Corporation’s
 
available-for-sale
 
debt
 
securities,
aggregated by
 
investment category
 
and length of
 
time that individual
 
securities have
 
been in a
 
continuous unrealized
 
loss position, as
of March 31, 2023 and December 31, 2022. The tables also include debt securities for
 
which an ACL was recorded.
As of March 31, 2023
Less than 12 months
12 months or more
Total
Unrealized
Unrealized
Unrealized
Fair Value
 
Losses
Fair Value
 
Losses
Fair Value
 
Losses
(In thousands)
Debt securities:
U.S. Treasury and U.S. GSEs’
 
obligations
$
17,615
$
611
$
2,496,925
$
208,711
$
2,514,540
$
209,322
Puerto Rico government obligations
-
-
2,203
733
(1)
2,203
733
 
MBS:
 
Residential MBS:
 
FHLMC
21,354
710
1,057,950
185,677
1,079,304
186,387
 
GNMA
45,949
868
197,581
27,185
243,530
28,053
 
FNMA
41,186
1,741
1,262,700
196,496
1,303,886
198,237
 
CMOs
10,596
117
232,886
52,423
243,482
52,540
 
Private label
-
-
5,402
2,210
(1)
5,402
2,210
 
Commercial MBS
3,833
220
148,640
33,576
152,473
33,796
$
140,533
$
4,267
$
5,404,287
$
707,011
$
5,544,820
$
711,278
7923
(1)
Unrealized losses do not include the credit loss component recorded
 
as part of the ACL. As of March 31, 2023, the
 
PRHFA bond and private label MBS
 
had an ACL of $
0.4
 
million and
$
0.1
 
million, respectively.
As of December 31, 2022
Less than 12 months
12 months or more
Total
Unrealized
Unrealized
Unrealized
Fair Value
 
Losses
Fair Value
 
Losses
Fair Value
 
Losses
(In thousands)
Debt securities:
U.S. Treasury and U.S. GSEs’
 
obligations
$
298,313
$
18,057
$
2,174,724
$
231,357
$
2,473,037
$
249,414
Puerto Rico government obligations
-
-
2,201
755
(1)
2,201
755
 
MBS:
 
Residential MBS:
 
FHLMC
260,524
45,424
831,637
160,012
1,092,161
205,436
 
GNMA
74,829
3,433
179,854
28,167
254,683
31,600
 
FNMA
405,977
49,479
920,200
169,419
1,326,177
218,898
 
CMOs
45,370
6,735
200,323
49,804
245,693
56,539
 
Private label
-
-
5,794
2,026
(1)
5,794
2,026
 
Commercial MBS
30,179
2,215
132,953
31,583
163,132
33,798
$
1,115,192
$
125,343
$
4,447,686
$
673,123
$
5,562,878
$
798,466
(1)
Unrealized losses do not include the credit loss component recorded
 
as part of the ACL. As of December 31, 2022, the
 
PRHFA bond and private label MBS
 
had an ACL of $
0.4
 
million
and $
0.1
 
million, respectively.
Significant Assumptions in Valuation of Private Label MBS [Table Text Block]
As of
As of
March 31, 2023
December 31, 2022
Weighted
 
Range
Weighted
 
Range
Average
Minimum
Maximum
Average
Minimum
Maximum
Discount rate
16.0%
16.0%
16.0%
16.2%
16.2%
16.2%
Prepayment rate
9.2%
1.6%
12.6%
11.8%
1.5%
15.2%
Projected cumulative loss rate
5.2%
0.2%
14.9%
5.6%
0.3%
15.6%
v3.23.1
LOANS HELD FOR INVESTMENT (Tables)
 3 Months Ended
Mar. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Loan Portfolio Held for Investment [Table Text Block]
The
 
following table
 
provides information
 
about
 
the
 
loan
 
portfolio held
 
for
 
investment by
 
portfolio segment
 
and
 
disaggregated by
geographic locations
 
as of the indicated
 
dates:
As of March 31,
 
As of December 31,
2023
2022
(In thousands)
Puerto Rico and Virgin Islands region:
Residential mortgage loans, mainly secured by first mortgages
$
2,381,782
$
2,417,900
Construction loans
48,195
34,772
Commercial mortgage loans
 
1,829,173
1,834,204
Commercial and Industrial ("C&I") loans
1,941,228
1,860,109
Consumer loans
3,398,245
3,317,489
Loans held for investment
$
9,598,623
$
9,464,474
Florida region:
Residential mortgage loans, mainly secured by first mortgages
$
429,746
$
429,390
Construction loans
95,469
98,181
Commercial mortgage loans
 
524,486
524,647
C&I loans
920,961
1,026,154
Consumer loans
8,700
9,979
Loans held for investment
$
1,979,362
$
2,088,351
Total:
Residential mortgage loans, mainly secured by first mortgages
$
2,811,528
$
2,847,290
Construction loans
143,664
132,953
Commercial mortgage loans
 
2,353,659
2,358,851
C&I loans
(1)
2,862,189
2,886,263
Consumer loans
3,406,945
3,327,468
Loans held for investment
(2)
11,577,985
11,552,825
ACL on loans and finance leases
(265,567)
(260,464)
Loans held for investment, net
$
11,312,418
$
11,292,361
(1)
As of March 31, 2023 and December 31, 2022, includes $
837.8
 
million and $
838.5
 
million, respectively, of commercial loans that were secured by real estate and
the primary source of repayment at origination was not dependent
 
upon the real estate.
(2)
Includes accretable fair value net purchase discounts of $
28.3
 
million and $
29.3
 
million as of March 31, 2023 and December 31, 2022, respectively.
Corporation's Aging of Loans Held for Investment Portfolio [Table Text Block]
The Corporation’s
 
aging of
 
the loan
 
portfolio held
 
for investment,
 
as well
 
as information
 
about nonaccrual
 
loans with
 
no ACL,
 
by
portfolio classes as of March 31, 2023 and December 31, 2022 are as follows:
As of March 31, 2023
Days Past Due and Accruing
Current
30-59
60-89
90+
(1) (2) (3)
Nonaccrual
(4)
Total loans held
for investment
Nonaccrual
Loans with no
ACL
(5)
(In thousands)
Residential mortgage loans, mainly secured by first mortgages:
 
FHA/VA government-guaranteed
 
loans
(1) (3) (6)
$
67,977
$
-
$
1,869
$
41,723
$
-
$
111,569
$
-
 
Conventional residential mortgage loans
(2) (6)
2,626,542
-
23,367
13,640
36,410
2,699,959
2,250
Commercial loans:
 
Construction loans
 
141,870
-
-
-
1,794
143,664
972
 
Commercial mortgage loans
(2) (6)
2,323,116
509
507
7,929
21,598
2,353,659
15,787
 
C&I loans
 
2,840,568
1,438
424
6,355
13,404
2,862,189
1,858
Consumer loans:
 
Auto loans
1,780,593
34,754
6,380
-
11,138
1,832,865
3,342
 
Finance leases
743,656
8,056
1,562
-
2,208
755,482
344
 
Personal loans
353,214
4,160
2,098
-
1,263
360,735
-
 
Credit cards
299,387
3,989
2,518
4,733
-
310,627
-
 
Other consumer loans
143,035
1,916
958
-
1,327
147,236
21
 
Total loans held for investment
$
11,319,958
$
54,822
$
39,683
$
74,380
$
89,142
$
11,577,985
$
24,574
 
(1)
It is the Corporation's policy to report delinquent Federal Housing Authority (“FHA”)/Veterans Affairs (“VA”)
 
government-guaranteed residential mortgage loans as past-due loans 90 days and still accruing as opposed
to nonaccrual loans. 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 $
25.9
 
million of residential mortgage loans guaranteed by the FHA that were over 15 months delinquent.
(2)
Includes purchased credit deteriorated ("PCD") loans previously accounted for under ASC Subtopic 310-30, "Loans and Debt Securities Acquired with Deteriorated Credit Quality" ("ASC Subtopic 310-30") for which
the Corporation made the accounting policy election of maintaining pools of loans as “units of account” both at the time of adoption of CECL on January 1, 2020 and on an ongoing basis for credit loss measurement.
These loans will continue to be excluded from nonaccrual loan statistics as long as the Corporation can reasonably estimate the timing and amount of cash flows expected to be collected on the loan pools. The portion of
such loans contractually past due 90 days or more, amounting to $
10.4
 
million as of March 31, 2023 ($
9.4
 
million conventional residential mortgage loans and $
1.0
 
million commercial mortgage loans), is presented in
the loans past due 90 days or more and still accruing category in the table above.
(3)
Include rebooked loans, which were previously pooled into GNMA securities, amounting to $
7.1
 
million as of March 31, 2023. Under the GNMA program, the Corporation has the option but not the obligation to
repurchase loans that meet GNMA’s
 
specified delinquency criteria. For accounting purposes, these loans subject to the repurchase option are required to be reflected on the financial statements with an offsetting
liability.
(4)
Nonaccrual loans in the Florida region amounted to $
15.2
 
million as of March 31, 2023, primarily nonaccrual residential mortgage loans and C&I loans.
(5)
Includes $
0.3
 
million of nonaccrual C&I loans with no ACL in the Florida region as of March 31, 2023.
(6)
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 March 31, 2023 amounted to $
5.3
 
million, $
60.7
 
million, and $
1.1
 
million,
respectively.
As of December 31, 2022
Days Past Due and Accruing
Current
30-59
60-89
90+
(1)(2)(3)
Nonaccrual
(4)
Total loans held
for investment
Nonaccrual
Loans with no
ACL
(5)
(In thousands)
Residential mortgage loans, mainly secured by first mortgages:
 
FHA/VA government-guaranteed
 
loans
(1) (3) (6)
$
67,116
$
-
$
2,586
$
48,456
$
-
$
118,158
$
-
 
Conventional residential mortgage loans
(2) (6)
2,643,909
-
25,630
16,821
42,772
2,729,132
2,292
Commercial loans:
 
Construction loans
130,617
-
-
128
2,208
132,953
977
 
Commercial mortgage loans
(2) (6)
2,330,094
300
2,367
3,771
22,319
2,358,851
15,991
 
C&I loans
 
2,868,989
1,984
1,128
6,332
7,830
2,886,263
3,300
Consumer loans:
 
Auto loans
1,740,271
40,039
7,089
-
10,672
1,798,071
2,136
 
Finance leases
707,646
7,148
1,791
-
1,645
718,230
330
 
Personal loans
346,366
3,738
1,894
-
1,248
353,246
-
 
Credit cards
301,013
3,705
2,238
4,775
-
311,731
-
 
Other consumer loans
141,687
1,804
1,458
-
1,241
146,190
-
 
Total loans held for investment
$
11,277,708
$
58,718
$
46,181
$
80,283
$
89,935
$
11,552,825
$
25,026
 
(1)
It is the Corporation's policy to report delinquent FHA/VA government-guaranteed residential mortgage loans as past-due loans 90 days and still accruing as opposed to
 
nonaccrual loans. 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 $
28.2
 
million of residential mortgage loans
guaranteed by the FHA that were over 15 months delinquent.
(2)
Includes PCD loans previously accounted for under ASC Subtopic 310-30 for which the Corporation made the accounting policy election of maintaining pools of loans as “units of account” both at the time of adoption
of CECL on January 1, 2020 and on an ongoing basis for credit loss measurement. These loans will continue to be excluded from nonaccrual loan statistics as long as the Corporation can reasonably estimate the timing
and amount of cash flows expected to be collected on the loan pools. The portion of such loans contractually past due 90 days or more, amounting to $
12.0
 
million as of December 31, 2022 ($
11.0
 
million conventional
residential mortgage loans and $
1.0
 
million commercial mortgage loans), is presented in the loans past due 90 days or more and still accruing category in the table above.
(3)
Include rebooked loans, which were previously pooled into GNMA securities, amounting to $
10.3
 
million as of December 31, 2022. Under the GNMA program, the Corporation has the option but not the obligation to
repurchase loans that meet GNMA’s
 
specified delinquency criteria. For accounting purposes, these loans subject to the repurchase option are required to be reflected on the financial statements with an offsetting
liability.
(4)
Nonaccrual loans in the Florida region amounted to $
8.3
 
million as of December 31, 2022, primarily nonaccrual residential mortgage loans.
(5)
Includes $
0.3
 
million of nonaccrual C&I loans with no ACL in the Florida region as of December 31, 2022.
(6)
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, 2022 amounted to $
6.1
 
million, $
65.2
 
million, and $
1.6
 
million,
respectively.
Corporation's Credit Quality Indicators by Loan [Table Text Block]
As of March 31,
 
2023
Puerto Rico and Virgin Islands region
Term Loans
As of December 31, 2022
Amortized Cost Basis by Origination Year
(1)
2023
2022
2021
2020
2019
Prior
Revolving
Loans
Amortized
Cost Basis
Total
Total
(In thousands)
CONSTRUCTION
 
Risk Ratings:
 
Pass
$
6,479
$
16,509
$
18,842
$
-
$
-
$
3,885
$
-
$
45,715
$
31,879
 
Criticized:
 
Special Mention
-
-
-
-
-
-
-
-
-
 
Substandard
-
-
-
-
-
2,480
-
2,480
2,893
 
Doubtful
-
-
-
-
-
-
-
-
-
 
Loss
-
-
-
-
-
-
-
-
-
 
Total construction loans
$
6,479
$
16,509
$
18,842
$
-
$
-
$
6,365
$
-
$
48,195
$
34,772
 
Charge-offs on construction loans
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
COMMERCIAL MORTGAGE
 
Risk Ratings:
 
Pass
$
67,469
$
391,295
$
139,536
$
325,141
$
301,638
$
400,794
$
478
$
1,626,351
$
1,655,728
 
Criticized:
 
Special Mention
-
1,177
-
36,546
75
131,350
-
169,148
145,415
 
Substandard
-
132
-
-
2,797
30,745
-
33,674
33,061
 
Doubtful
-
-
-
-
-
-
-
-
-
 
Loss
-
-
-
-
-
-
-
-
-
 
Total commercial mortgage loans
$
67,469
$
392,604
$
139,536
$
361,687
$
304,510
$
562,889
$
478
$
1,829,173
$
1,834,204
 
Charge-offs on commercial mortgage loans
$
-
$
-
$
-
$
-
$
-
$
18
$
-
$
18
C&I
 
Risk Ratings:
 
Pass
$
70,739
$
303,603
$
188,155
$
181,284
$
308,225
$
254,283
$
565,758
$
1,872,047
$
1,789,572
 
Criticized:
 
Special Mention
-
132
839
-
1,029
12,885
32,322
47,207
43,224
 
Substandard
-
-
396
652
13,430
7,117
379
21,974
27,313
 
Doubtful
-
-
-
-
-
-
-
-
-
 
Loss
-
-
-
-
-
-
-
-
-
 
Total C&I loans
$
70,739
$
303,735
$
189,390
$
181,936
$
322,684
$
274,285
$
598,459
$
1,941,228
$
1,860,109
 
Charge-offs on C&I loans
$
-
$
-
$
-
$
-
$
-
$
63
$
55
$
118
(1) Excludes accrued interest receivable.
As of March 31,
 
2023
Term Loans
As of December 31, 2022
Florida region
Amortized Cost Basis by Origination Year
(1)
2023
2022
2021
2020
2019
Prior
Revolving
Loans
Amortized
Cost Basis
Total
Total
(In thousands)
CONSTRUCTION
 
Risk Ratings:
 
Pass
$
107
$
50,019
$
42,867
$
-
$
-
$
-
$
2,476
$
95,469
$
98,181
 
Criticized:
 
Special Mention
-
-
-
-
-
-
-
-
-
 
Substandard
-
-
-
-
-
-
-
-
-
 
Doubtful
-
-
-
-
-
-
-
-
-
 
Loss
-
-
-
-
-
-
-
-
-
 
Total construction loans
$
107
$
50,019
$
42,867
$
-
$
-
$
-
$
2,476
$
95,469
$
98,181
 
Charge-offs on construction loans
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
COMMERCIAL MORTGAGE
 
Risk Ratings:
 
Pass
$
3,529
$
177,392
$
70,147
$
41,024
$
51,320
$
140,177
$
19,551
$
503,140
$
503,184
 
Criticized:
 
Special Mention
-
-
-
6,947
13,231
-
-
20,178
20,295
 
Substandard
-
-
-
1,168
-
-
-
1,168
1,168
 
Doubtful
-
-
-
-
-
-
-
-
-
 
Loss
-
-
-
-
-
-
-
-
-
 
Total commercial mortgage loans
$
3,529
$
177,392
$
70,147
$
49,139
$
64,551
$
140,177
$
19,551
$
524,486
$
524,647
 
Charge-offs on commercial mortgage loans
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
C&I
 
Risk Ratings:
 
Pass
$
36,642
$
276,868
$
134,512
$
75,953
$
183,443
$
72,650
$
92,816
$
872,884
$
979,151
 
Criticized:
 
Special Mention
-
-
19,677
-
5,974
11,725
-
37,376
17,905
 
Substandard
-
-
-
264
195
2,854
300
3,613
29,098
 
Doubtful
-
-
-
-
-
7,088
-
7,088
-
 
Loss
-
-
-
-
-
-
-
-
-
 
Total C&I loans
$
36,642
$
276,868
$
154,189
$
76,217
$
189,612
$
94,317
$
93,116
$
920,961
$
1,026,154
 
Charge-offs on C&I loans
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
(1) Excludes accrued interest receivable.
As of March 31,
 
2023
Total
Term Loans
As of December 31, 2022
Amortized Cost Basis by Origination Year (1)
2023
2022
2021
2020
2019
Prior
Revolving
Loans
Amortized
Cost Basis
Total
Total
(In thousands)
CONSTRUCTION
 
Risk Ratings:
 
Pass
$
6,586
$
66,528
$
61,709
$
-
$
-
$
3,885
$
2,476
$
141,184
$
130,060
 
Criticized:
 
Special Mention
-
-
-
-
-
-
-
-
-
 
Substandard
-
-
-
-
-
2,480
-
2,480
2,893
 
Doubtful
-
-
-
-
-
-
-
-
-
 
Loss
-
-
-
-
-
-
-
-
-
 
Total construction loans
$
6,586
$
66,528
$
61,709
$
-
$
-
$
6,365
$
2,476
$
143,664
$
132,953
 
Charge-offs on construction loans
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
COMMERCIAL MORTGAGE
 
Risk Ratings:
 
Pass
$
70,998
$
568,687
$
209,683
$
366,165
$
352,958
$
540,971
$
20,029
$
2,129,491
$
2,158,912
 
Criticized:
 
Special Mention
-
1,177
-
43,493
13,306
131,350
-
189,326
165,710
 
Substandard
-
132
-
1,168
2,797
30,745
-
34,842
34,229
 
Doubtful
-
-
-
-
-
-
-
-
-
 
Loss
-
-
-
-
-
-
-
-
-
 
Total commercial mortgage loans
$
70,998
$
569,996
$
209,683
$
410,826
$
369,061
$
703,066
$
20,029
$
2,353,659
$
2,358,851
 
Charge-offs on commercial mortgage loans
$
-
$
-
$
-
$
-
$
-
$
18
$
-
$
18
C&I
 
Risk Ratings:
 
Pass
$
107,381
$
580,471
$
322,667
$
257,237
$
491,668
$
326,933
$
658,574
$
2,744,931
$
2,768,723
 
Criticized:
 
Special Mention
-
132
20,516
-
7,003
24,610
32,322
84,583
61,129
 
Substandard
-
-
396
916
13,625
9,971
679
25,587
56,411
 
Doubtful
-
-
-
-
-
7,088
-
7,088
-
 
Loss
-
-
-
-
-
-
-
-
-
 
Total C&I loans
$
107,381
$
580,603
$
343,579
$
258,153
$
512,296
$
368,602
$
691,575
$
2,862,189
$
2,886,263
 
Charge-offs on C&I loans
$
-
$
-
$
-
$
-
$
-
$
63
$
55
$
118
(1) Excludes accrued interest receivable.
The following
 
tables present the
 
amortized cost of
 
residential mortgage
 
loans by portfolio
 
classes and by
 
origination year
 
based on
accrual status as of March 31, 2023,
 
the gross charge-offs for the quarter
 
ended March 31, 2023 by portfolio classes and by origination
year, and the amortized cost of residential mortgage
 
loans by portfolio classes based on accrual status as of December 31, 2022:
As of March 31,
 
2023
As of
December 31,
2022
Term Loans
Amortized Cost Basis by Origination Year
(1)
2023
2022
2021
2020
2019
Prior
Revolving
Loans
Amortized
Cost Basis
Total
Total
(In thousands)
Puerto Rico and Virgin Islands Region:
FHA/VA government-guaranteed loans
Accrual Status:
Performing
$
-
$
696
$
448
$
765
$
1,557
$
107,368
$
-
$
110,834
$
117,416
Non-Performing
-
-
-
-
-
-
-
-
-
Total FHA/VA
 
government-guaranteed loans
$
-
$
696
$
448
$
765
$
1,557
$
107,368
$
-
$
110,834
$
117,416
Conventional residential mortgage loans:
Accrual Status:
Performing
$
24,859
$
171,599
$
74,692
$
31,497
$
47,705
$
1,891,603
$
-
$
2,241,955
$
2,265,013
Non-Performing
-
-
35
-
-
28,958
-
28,993
35,471
Total conventional residential mortgage loans
$
24,859
$
171,599
$
74,727
$
31,497
$
47,705
$
1,920,561
$
-
$
2,270,948
$
2,300,484
Total:
Accrual Status:
Performing
$
24,859
$
172,295
$
75,140
$
32,262
$
49,262
$
1,998,971
$
-
$
2,352,789
$
2,382,429
Non-Performing
-
-
35
-
-
28,958
-
28,993
35,471
Total residential mortgage loans in Puerto Rico
and Virgin Islands Region
$
24,859
$
172,295
$
75,175
$
32,262
$
49,262
$
2,027,929
$
-
$
2,381,782
$
2,417,900
Charge-offs on residential mortgage loans
$
-
$
-
$
-
$
3
$
-
$
980
$
-
$
983
(1)
Excludes accrued interest receivable.
As of March 31,
 
2023
As of
December 31,
2022
Term Loans
Amortized Cost Basis by Origination Year
(1)
2023
2022
2021
2020
2019
Prior
Revolving
Loans
Amortized
Cost Basis
Total
Total
(In thousands)
Florida Region:
FHA/VA government-guaranteed loans
Accrual Status:
Performing
$
-
$
-
$
-
$
-
$
-
$
735
$
-
$
735
$
742
Non-Performing
-
-
-
-
-
-
-
-
-
Total FHA/VA
 
government-guaranteed loans
$
-
$
-
$
-
$
-
$
-
$
735
$
-
$
735
$
742
Conventional residential mortgage loans:
Accrual Status:
Performing
$
13,232
$
81,619
$
48,991
$
31,157
$
29,403
$
217,192
$
-
$
421,594
$
421,347
Non-Performing
-
-
-
-
265
7,152
-
7,417
7,301
Total conventional residential mortgage loans
$
13,232
$
81,619
$
48,991
$
31,157
$
29,668
$
224,344
$
-
$
429,011
$
428,648
Total:
Accrual Status:
Performing
$
13,232
$
81,619
$
48,991
$
31,157
$
29,403
$
217,927
$
-
$
422,329
$
422,089
Non-Performing
-
-
-
-
265
7,152
-
7,417
7,301
Total residential mortgage loans in Florida region
$
13,232
$
81,619
$
48,991
$
31,157
$
29,668
$
225,079
$
-
$
429,746
$
429,390
Charge-offs on residential mortgage loans
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
(1)
Excludes accrued interest receivable.
As of March 31,
 
2023
As of
December 31,
2022
Term Loans
Amortized Cost Basis by Origination Year
(1)
2023
2022
2021
2020
2019
Prior
Revolving
Loans
Amortized
Cost Basis
Total
Total
(In thousands)
Total:
FHA/VA government-guaranteed loans
Accrual Status:
Performing
$
-
$
696
$
448
$
765
$
1,557
$
108,103
$
-
$
111,569
$
118,158
Non-Performing
-
-
-
-
-
-
-
-
-
Total FHA/VA
 
government-guaranteed loans
$
-
$
696
$
448
$
765
$
1,557
$
108,103
$
-
$
111,569
$
118,158
Conventional residential mortgage loans:
Accrual Status:
Performing
$
38,091
$
253,218
$
123,683
$
62,654
$
77,108
$
2,108,795
$
-
$
2,663,549
$
2,686,360
Non-Performing
-
-
35
-
265
36,110
-
36,410
42,772
Total conventional residential mortgage loans
$
38,091
$
253,218
$
123,718
$
62,654
$
77,373
$
2,144,905
$
-
$
2,699,959
$
2,729,132
Total:
Accrual Status:
Performing
$
38,091
$
253,914
$
124,131
$
63,419
$
78,665
$
2,216,898
$
-
$
2,775,118
$
2,804,518
Non-Performing
-
-
35
-
265
36,110
-
36,410
42,772
Total residential mortgage loans
$
38,091
$
253,914
$
124,166
$
63,419
$
78,930
$
2,253,008
$
-
$
2,811,528
$
2,847,290
Charge-offs on residential mortgage loans
$
-
$
-
$
-
$
3
$
-
$
980
$
-
$
983
(1)
Excludes accrued interest receivable.
The
 
following
 
tables present
 
the
 
amortized
 
cost
 
of
 
consumer
 
loans
 
by
 
portfolio
 
classes
 
and
 
by origination
 
year
 
based on
 
accrual
status as
 
of March
 
31, 2023,
 
the gross
 
charge-offs
 
for the
 
quarter ended
 
March 31,
 
2023 by
 
portfolio classes
 
and by
 
origination, and
the amortized cost of consumer loans by portfolio classes based on accrual status as of
 
December 31, 2022:
As of March 31,
 
2023
As of
December 31,
2022
Term Loans
Amortized Cost Basis by Origination Year
(1)
2023
2022
2021
2020
2019
Prior
Revolving
Loans
Amortized
Cost Basis
Total
Total
(In thousands)
Puerto Rico and Virgin Islands Regions:
Auto loans:
Accrual Status:
Performing
$
165,925
$
638,402
$
478,373
$
234,358
$
186,331
$
115,561
$
-
$
1,818,950
$
1,783,782
Non-Performing
-
2,419
2,243
1,347
2,708
2,399
-
11,116
10,596
Total auto loans
$
165,925
$
640,821
$
480,616
$
235,705
$
189,039
$
117,960
$
-
$
1,830,066
$
1,794,378
Charge-offs on auto loans
$
19
$
1,827
$
1,210
$
467
$
632
$
365
$
-
$
4,520
Finance leases:
Accrual Status:
Performing
$
78,870
$
282,486
$
183,061
$
82,206
$
74,421
$
52,230
$
-
$
753,274
$
716,585
Non-Performing
-
551
222
433
376
626
-
2,208
1,645
Total finance leases
$
78,870
$
283,037
$
183,283
$
82,639
$
74,797
$
52,856
$
-
$
755,482
$
718,230
Charge-offs on finance leases
$
-
$
227
$
270
$
97
$
185
$
200
$
-
$
979
Personal loans:
Accrual Status:
Performing
$
44,647
$
163,311
$
49,275
$
25,703
$
46,765
$
29,411
$
-
$
359,112
$
351,664
Non-Performing
-
490
188
117
229
239
-
1,263
1,248
Total personal loans
$
44,647
$
163,801
$
49,463
$
25,820
$
46,994
$
29,650
$
-
$
360,375
$
352,912
Charge-offs on personal loans
$
-
$
1,517
$
840
$
279
$
680
$
384
$
-
$
3,700
Credit cards:
Accrual Status:
Performing
$
-
$
-
$
-
$
-
$
-
$
-
$
310,627
$
310,627
$
311,731
Non-Performing
-
-
-
-
-
-
-
-
-
Total credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
310,627
$
310,627
$
311,731
Charge-offs on credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
4,057
$
4,057
Other consumer loans:
Accrual Status:
Performing
$
23,413
$
66,230
$
17,612
$
8,219
$
9,851
$
6,468
$
8,700
$
140,493
$
139,116
Non-Performing
-
540
171
59
104
230
98
1,202
1,122
Total other consumer loans
$
23,413
$
66,770
$
17,783
$
8,278
$
9,955
$
6,698
$
8,798
$
141,695
$
140,238
Charge-offs on other consumer loans
$
14
$
1,842
$
762
$
174
$
326
$
178
$
91
$
3,387
Total:
Performing
$
312,855
$
1,150,429
$
728,321
$
350,486
$
317,368
$
203,670
$
319,327
$
3,382,456
$
3,302,878
Non-Performing
-
4,000
2,824
1,956
3,417
3,494
98
15,789
14,611
Total consumer loans in Puerto Rico and Virgin
Islands region
$
312,855
$
1,154,429
$
731,145
$
352,442
$
320,785
$
207,164
$
319,425
$
3,398,245
$
3,317,489
Charge-offs on total consumer loans
$
33
$
5,413
$
3,082
$
1,017
$
1,823
$
1,127
$
4,148
$
16,643
(1)
Excludes accrued interest receivable.
As of March 31,
 
2023
As of
December 31,
2022
Term Loans
Amortized Cost Basis by Origination Year
(1)
2023
2022
2021
2020
2019
Prior
Revolving
Loans
Amortized
Cost Basis
Total
Total
(In thousands)
Florida Region:
Auto loans:
Accrual Status:
Performing
$
-
$
-
$
-
$
-
$
259
$
2,518
$
-
$
2,777
$
3,617
Non-Performing
-
-
-
-
-
22
-
22
76
Total auto loans
$
-
$
-
$
-
$
-
$
259
$
2,540
$
-
$
2,799
$
3,693
Charge-offs on auto loans
$
-
$
-
$
-
$
-
$
8
$
147
$
-
$
155
Finance leases:
Accrual Status:
Performing
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
Non-Performing
-
-
-
-
-
-
-
-
-
Total finance leases
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
Charge-offs on finance leases
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
Personal loans:
Accrual Status:
Performing
$
274
$
8
$
71
$
7
$
-
$
-
$
-
$
360
$
334
Non-Performing
-
-
-
-
-
-
-
-
-
Total personal loans
$
274
$
8
$
71
$
7
$
-
$
-
$
-
$
360
$
334
Charge-offs on personal loans
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
Credit cards:
Accrual Status:
Performing
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
Non-Performing
-
-
-
-
-
-
-
-
-
Total credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
Charge-offs on credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
Other consumer loans:
Accrual Status:
Performing
$
-
$
49
$
229
$
460
$
-
$
2,455
$
2,223
$
5,416
$
5,833
Non-Performing
-
-
-
-
-
21
104
125
119
Total other consumer loans
$
-
$
49
$
229
$
460
$
-
$
2,476
$
2,327
$
5,541
$
5,952
Charge-offs on other consumer loans
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
Total:
Performing
$
274
$
57
$
300
$
467
$
259
$
4,973
$
2,223
$
8,553
$
9,784
Non-Performing
-
-
-
-
-
43
104
147
195
Total consumer loans in Florida region
$
274
$
57
$
300
$
467
$
259
$
5,016
$
2,327
$
8,700
$
9,979
Charge-offs on total consumer loans
$
-
$
-
$
-
$
-
$
8
$
147
$
-
$
155
(1)
Excludes accrued interest receivable.
As of March 31,
 
2023
As of
December 31,
2022
Term Loans
Amortized Cost Basis by Origination Year
(1)
2023
2022
2021
2020
2019
Prior
Revolving
Loans
Amortized
Cost Basis
Total
Total
(In thousands)
Total:
Auto loans:
Accrual Status:
Performing
$
165,925
$
638,402
$
478,373
$
234,358
$
186,590
$
118,079
$
-
$
1,821,727
$
1,787,399
Non-Performing
-
2,419
2,243
1,347
2,708
2,421
-
11,138
10,672
Total auto loans
$
165,925
$
640,821
$
480,616
$
235,705
$
189,298
$
120,500
$
-
$
1,832,865
$
1,798,071
Charge-offs on auto loans
$
19
$
1,827
$
1,210
$
467
$
640
$
512
$
-
$
4,675
Finance leases:
Accrual Status:
Performing
$
78,870
$
282,486
$
183,061
$
82,206
$
74,421
$
52,230
$
-
$
753,274
$
716,585
Non-Performing
-
551
222
433
376
626
-
2,208
1,645
Total finance leases
$
78,870
$
283,037
$
183,283
$
82,639
$
74,797
$
52,856
$
-
$
755,482
$
718,230
Charge-offs on finance leases
$
-
$
227
$
270
$
97
$
185
$
200
$
-
$
979
Personal loans:
Accrual Status:
Performing
$
44,921
$
163,319
$
49,346
$
25,710
$
46,765
$
29,411
$
-
$
359,472
$
351,998
Non-Performing
-
490
188
117
229
239
-
1,263
1,248
Total personal loans
$
44,921
$
163,809
$
49,534
$
25,827
$
46,994
$
29,650
$
-
$
360,735
$
353,246
Charge-offs on personal loans
$
-
$
1,517
$
840
$
279
$
680
$
384
$
-
$
3,700
Credit cards:
Accrual Status:
Performing
$
-
$
-
$
-
$
-
$
-
$
-
$
310,627
$
310,627
$
311,731
Non-Performing
-
-
-
-
-
-
-
-
-
Total credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
310,627
$
310,627
$
311,731
Charge-offs on credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
4,057
$
4,057
Other consumer loans:
Accrual Status:
Performing
$
23,413
$
66,279
$
17,841
$
8,679
$
9,851
$
8,923
$
10,923
$
145,909
$
144,949
Non-Performing
-
540
171
59
104
251
202
1,327
1,241
Total other consumer loans
$
23,413
$
66,819
$
18,012
$
8,738
$
9,955
$
9,174
$
11,125
$
147,236
$
146,190
Charge-offs on other consumer loans
$
14
$
1,842
$
762
$
174
$
326
$
178
$
91
$
3,387
Total:
Performing
$
313,129
$
1,150,486
$
728,621
$
350,953
$
317,627
$
208,643
$
321,550
$
3,391,009
$
3,312,662
Non-Performing
-
4,000
2,824
1,956
3,417
3,537
202
15,936
14,806
Total consumer loans
$
313,129
$
1,154,486
$
731,445
$
352,909
$
321,044
$
212,180
$
321,752
$
3,406,945
$
3,327,468
Charge-offs on total consumer loans
$
33
$
5,413
$
3,082
$
1,017
$
1,831
$
1,274
$
4,148
$
16,798
(1)
Excludes accrued interest receivable.
Collateral Pledged [Member]  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Loan Portfolio Held for Investment [Table Text Block]
As of March 31, 2023
Collateral Dependent Loans -
With Allowance
Collateral Dependent
Loans - With No
Related Allowance
Collateral Dependent Loans - Total
Amortized Cost
 
Related
Allowance
Amortized Cost
Amortized Cost
 
Related
Allowance
(In thousands)
Residential mortgage loans:
Conventional residential mortgage loans
$
34,257
$
2,410
$
152
$
34,409
$
2,410
Commercial loans:
Construction loans
-
-
956
956
-
Commercial mortgage loans
2,449
896
61,851
64,300
896
C&I loans
 
1,789
347
13,331
15,120
347
Consumer loans:
Personal loans
55
1
-
55
1
Other consumer loans
-
-
-
-
-
$
38,550
$
3,654
$
76,290
$
114,840
$
3,654
As of December 31, 2022
Collateral Dependent Loans -
With Allowance
Collateral Dependent
Loans - With No
Related Allowance
Collateral Dependent Loans - Total
Amortized Cost
 
Related
Allowance
Amortized Cost
 
Amortized Cost
 
Related
Allowance
(In thousands)
Residential mortgage loans:
Conventional residential mortgage loans
$
36,206
$
2,571
$
-
$
36,206
$
2,571
Commercial loans:
Construction loans
-
-
956
956
-
Commercial mortgage loans
2,466
897
62,453
64,919
897
C&I loans
 
1,513
322
17,590
19,103
322
Consumer loans:
Personal loans
56
1
64
120
1
Other consumer loans
207
29
-
207
29
$
40,448
$
3,820
$
81,063
$
121,511
$
3,820
TDR [Member]  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Troubled Debt Restructurings On Financing Receivables Table [Text Block]
The following table presents the amortized cost basis as of March 31, 2023 of loans modified
 
to borrowers experiencing financial
difficulty during the quarter ended March 31, 2023, by portfolio
 
classes and type of modification granted, and the percentage of these
modified loans relative to the total period-end amortized cost basis of receivables
 
in the portfolio class:
Quarter Ended March 31,
 
2023
Payment Delay Only
Forbearance
Payment
Plan
Trial
Modification
Interest
Rate
Reduction
Term
Extension
Combination of
Interest Rate
Reduction and
Term Extension
Forgiveness
of principal
and/or
interest
Other
Total
Percentage of
Total by
Portfolio
Classes
(In thousands)
Conventional residential mortgage loans
$
-
$
-
$
332
$
-
$
433
$
115
$
-
$
-
$
880
0.03%
Construction loans
-
-
-
-
-
-
-
-
-
-
Commercial mortgage loans
-
-
-
-
-
-
-
-
-
-
C&I loans
-
-
-
-
-
-
-
40
(1)
40
0.00%
Consumer loans:
Auto loans
-
-
-
-
89
38
-
584
(1)
711
0.04%
Personal loans
-
-
-
-
28
14
-
-
42
0.01%
Credit cards
-
-
-
289
(2)
-
-
-
-
289
0.09%
Other consumer loans
-
-
-
-
132
60
-
26
(1)
218
0.15%
 
Total modifications
$
-
$
-
$
332
$
289
$
682
$
227
$
-
$
650
$
2,180
(1)
Modification consists of court mandated reduction to 0% interest rate for remaining loan term to borrowers in bankruptcy proceedings unless dismissal occurs.
(2)
Modification consists of reduction in interest rate and revocation of revolving line privileges.
The following table presents the financial effects of the modifications
 
granted to borrowers experiencing financial difficulty
during the quarter ended March 31, 2023, by portfolio classes, other
 
than those associated to payment delay.
 
The qualitative financial
effects of the modifications associated to payment delay were discussed
 
above, and as such, were excluded from the table below:
Quarter Ended March 31, 2023
Combination of Interest Rate Reduction
and Term Extension
Weighted-Average
Interest Rate
Reduction (%)
Weighted-Average
Term Extension (in
months)
Weighted-Average
Interest Rate
Reduction (%)
Weighted-Average
Term Extension (in
months)
Weighted-Average
Forgiveness of
Principal and/or
Interest
(In thousands)
Conventional residential mortgage loans
-
98
2.11%
141
$
-
Construction loans
-
-
-
-
-
Commercial mortgage loans
-
-
-
-
-
C&I loans
-
-
-
-
-
Consumer loans:
Auto loans
-
22
2.88%
28
-
Personal loans
-
30
3.36%
12
-
Credit cards
16.04%
-
-
-
-
Other consumer loans
-
27
1.96%
26
-
The following table presents the performance of loans modified during the quarter
 
ended March 31,
 
2023 that were granted to
borrowers experiencing financial difficulty,
 
by portfolio classes:
Quarter Ended March 31,
 
2023
30-59
60-89
90+
Total
Delinquency
Current
Total
(In thousands)
Conventional residential mortgage loans
$
-
$
-
$
-
$
-
$
880
$
880
Construction loans
-
-
-
-
-
-
Commercial mortgage loans
-
-
-
-
-
-
C&I loans
-
-
-
-
40
40
Consumer loans:
Auto loans
44
138
-
182
529
711
Personal loans
-
-
-
-
42
42
Credit cards
103
89
-
192
97
289
Other consumer loans
-
-
-
-
218
218
 
Total modifications
$
147
$
227
$
-
$
374
$
1,806
$
2,180
Quarter Ended March 31,
 
2022
Interest rate
below market
Maturity or
term extension
Combination of
reduction in
interest rate and
extension of
maturity
Forgiveness of
principal and/or
interest
Other
(1)
Total
(In thousands)
Conventional residential mortgage loans
$
215
$
731
$
190
$
-
$
1,857
$
2,993
Construction loans
-
-
-
-
-
-
Commercial mortgage loans
-
-
-
-
-
-
C&I loans
-
-
-
-
5
5
Consumer loans:
Auto loans
792
54
147
-
-
993
Finance leases
-
246
-
-
18
264
Personal loans
-
60
18
-
-
78
Credit cards
(2)
189
-
-
-
-
189
Other consumer loans
33
106
-
9
-
148
Total TDRs
$
1,229
$
1,197
$
355
$
9
$
1,880
$
4,670
(1)
Other concessions granted by the Corporation include payment
 
plans under judicial stipulation or loss mitigation programs, or
 
a combination of two or more of the concessions listed
 
in
the table. Amounts included in Other that represent a combination
 
of concessions are excluded from the amounts reported in
 
the column for such individual concessions.
(2)
Concession consists of reduction in interest rate and revocation
 
of revolving line privileges.
Quarter Ended March 31, 2022
Number of contracts
Pre-modification Amortized
Cost
Post-modification Amortized
Cost
(Dollars in thousands)
Conventional residential mortgage loans
23
$
2,996
$
2,993
Construction loans
-
-
-
Commercial mortgage loans
-
-
-
C&I loans
1
5
5
Consumer loans:
 
Auto loans
51
995
993
 
Finance leases
13
264
264
 
Personal loans
5
78
78
 
Credit Cards
44
189
189
 
Other consumer loans
27
146
148
 
Total TDRs
164
$
4,673
$
4,670
Quarter Ended March 31, 2022
Number of contracts
Amortized Cost
(Dollars in thousands)
Conventional residential mortgage loans
3
$
389
Construction loans
-
-
Commercial mortgage loans
-
-
C&I loans
-
-
Consumer loans:
 
Auto loans
24
522
 
Finance leases
1
16
 
Personal loans
-
-
 
Credit cards
11
79
 
Other consumer loans
2
11
 
Total TDRs
41
$
1,017
v3.23.1
ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LEASES (Tables)
 3 Months Ended
Mar. 31, 2023
ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LEASES [Abstract]  
Allowance For Credit Losses On Financing Receivables Table [Text Block]
The following tables present 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
Quarter Ended March 31, 2023
(In thousands)
ACL:
Beginning balance
$
62,760
$
2,308
$
35,064
$
32,906
$
127,426
$
260,464
Impact of adoption of ASU 2022-02
2,056
-
-
7
53
2,116
Provision for credit losses - expense (benefit)
73
860
1,246
(1,650)
15,727
16,256
Charge-offs
 
(983)
-
(18)
(118)
(16,798)
(17,917)
Recoveries
497
63
168
90
3,830
4,648
Ending balance
$
64,403
$
3,231
$
36,460
$
31,235
$
130,238
$
265,567
Residential Mortgage
Loans
Construction
Loans
Commercial
Mortgage
Commercial &
Industrial Loans
Consumer Loans
Total
Quarter Ended March 31,
 
2022
(In thousands)
ACL:
Beginning balance
$
74,837
$
4,048
$
52,771
$
34,284
$
103,090
$
269,030
Provision for credit losses - (benefit) expense
(4,871)
(2,214)
(22,640)
1,755
10,981
(16,989)
Charge-offs
 
(2,528)
(44)
(37)
(290)
(9,816)
(12,715)
Recoveries
1,382
52
44
1,035
3,608
6,121
Ending balance
$
68,820
$
1,842
$
30,138
$
36,784
$
107,863
$
245,447
The tables below
 
present the ACL
 
related to loans
 
and finance leases
 
and the carrying
 
values of loans
 
by portfolio segment
 
as of
March 31,
 
2023 and December 31, 2022:
As of March 31,
 
2023
Residential Mortgage
Loans
Construction
Loans
Commercial Mortgage
Loans
Commercial and
Industrial Loans
Consumer Loans
Total
(Dollars in thousands)
Total loans held for investment:
 
Amortized cost of loans
$
2,811,528
$
143,664
$
2,353,659
$
2,862,189
$
3,406,945
$
11,577,985
 
Allowance for credit losses
64,403
3,231
36,460
31,235
130,238
265,567
 
Allowance for credit losses to
 
amortized cost
2.29
%
2.25
%
1.55
%
1.09
%
3.82
%
2.29
%
As of December 31, 2022
Residential Mortgage
Loans
Construction
Loans
Commercial Mortgage
Loans
Commercial and
Industrial Loans
Consumer Loans
Total
(Dollars in thousands)
Total loans held for investment:
 
Amortized cost of loans
$
2,847,290
$
132,953
$
2,358,851
$
2,886,263
$
3,327,468
$
11,552,825
 
Allowance for credit losses
62,760
2,308
35,064
32,906
127,426
260,464
 
Allowance for credit losses to
 
amortized cost
2.20
%
1.74
%
1.49
%
1.14
%
3.83
%
2.25
%
The following
 
table presents
 
the activity
 
in the
 
ACL for
 
unfunded loan
 
commitments and
 
standby letters
 
of credit
 
for the
 
quarters
ended March 31, 2023 and 2022:
Quarter Ended March 31,
 
2023
2022
(In thousands)
Beginning Balance
$
4,273
$
1,537
Provision for credit losses - (benefit)
(105)
(178)
 
Ending balance
$
4,168
$
1,359
v3.23.1
OTHER REAL ESTATE OWNED (Tables)
 3 Months Ended
Mar. 31, 2023
OTHER REAL ESTATE OWNED [Abstract]  
Schedule Of Other Real Estate Assets And Foreclosed Properties [Table Text Block]
The following table presents the OREO inventory as of the indicated dates:
March 31, 2023
December 31, 2022
(In thousands)
OREO balances, carrying value:
Residential
(1)
$
24,984
$
24,025
Commercial
6,114
5,852
Construction
1,764
1,764
Total
$
32,862
$
31,641
(1)
Excludes $
22.6
 
million and $
23.5
 
million as of March 31,
 
2023 and December 31,
 
2022, respectively,
 
of foreclosures that met
 
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.
v3.23.1
GOODWILL AND OTHER INTANGIBLES (Tables)
 3 Months Ended
Mar. 31, 2023
GOODWILL AND OTHER INTANGIBLES [Abstract]  
Gross Amount and Accumulated Amortization of Other Intangible Assets [Table Text Block]
As of
As of
March 31,
 
December 31,
2023
 
2022
 
(Dollars in thousands)
Core deposit intangible:
Gross amount
$
87,544
$
87,544
Accumulated amortization
(68,557)
(66,644)
Net carrying amount
$
18,987
$
20,900
Remaining amortization period (in years)
6.8
7.0
Purchased credit card relationship intangible:
Gross amount
$
3,800
$
3,800
Accumulated amortization
(3,714)
(3,595)
Net carrying amount
$
86
$
205
Remaining amortization period (in years)
0.4
0.7
Insurance customer relationship intangible:
Gross amount
$
-
$
1,067
Accumulated amortization
-
(1,054)
Net carrying amount
$
-
$
13
Remaining amortization period (in years)
-
0.1
Amortization Expense [Table Text Block]
(In thousands)
2023
$
5,691
2024
6,416
2025
3,509
2026
872
2027
872
2028 and after
1,713
v3.23.1
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS (Tables)
 3 Months Ended
Mar. 31, 2023
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS [Abstract]  
Changes in Servicing Assets [Table Text Block]
Quarter Ended March 31,
 
2023
2022
(In thousands)
Balance at beginning of year
$
29,037
$
30,986
Capitalization of servicing assets
532
1,130
Amortization
(1,128)
(1,330)
Temporary impairment
 
recoveries
4
55
Other
(1)
(14)
(88)
Balance at end of period
$
28,431
$
30,753
(1)
Mainly represents adjustments related to the repurchase
 
of loans serviced for others.
Changes in Impairment Allowance [Table Text Block]
Quarter Ended March 31,
2023
2022
(In thousands)
Balance at beginning of year
$
12
$
78
Recoveries
(4)
(55)
 
Balance at end of period
$
8
$
23
Components of Net Servicing Income [Table Text Block]
Quarter Ended March 31,
2023
2022
(In thousands)
Servicing fees
$
2,718
$
2,819
Late charges and prepayment penalties
199
194
Adjustment for loans repurchased
(14)
(88)
 
Servicing income, gross
2,903
2,925
Amortization and impairment of servicing assets
(1,124)
(1,275)
 
Servicing income, net
$
1,779
$
1,650
Key Economic Assumptions Used in Determining Fair Value at Time of Sale of Loans [Table Text Block]
Weighted Average
Maximum
Minimum
Quarter Ended March 31, 2023
Constant prepayment rate:
 
 
Government-guaranteed mortgage loans
6.7
%
11.6
%
4.8
%
 
Conventional conforming mortgage loans
7.7
%
16.0
%
3.8
%
 
Conventional non-conforming mortgage loans
5.7
%
7.0
%
2.1
%
Discount rate:
 
Government-guaranteed mortgage loans
11.5
%
11.5
%
11.5
%
 
Conventional conforming mortgage loans
9.5
%
9.5
%
9.5
%
 
Conventional non-conforming mortgage loans
12.8
%
14.0
%
11.5
%
Quarter Ended March 31, 2022
Constant prepayment rate:
 
 
Government-guaranteed mortgage loans
6.7
%
18.3
%
4.8
%
 
Conventional conforming mortgage loans
6.6
%
18.4
%
3.4
%
 
Conventional non-conforming mortgage loans
6.6
%
21.9
%
4.9
%
Discount rate:
 
Government-guaranteed mortgage loans
12.0
%
12.0
%
12.0
%
 
Conventional conforming mortgage loans
10.0
%
10.0
%
10.0
%
 
Conventional non-conforming mortgage loans
12.3
%
14.5
%
12.0
%
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
 
March
 
31,
 
2023
 
and
December 31, 2022 were as follows:
March 31,
 
December 31,
2023
2022
(In thousands)
Carrying amount of servicing assets
$
28,431
$
29,037
Fair value
$
45,270
$
44,710
Weighted-average
 
expected life (in years)
7.80
7.80
Constant prepayment rate (weighted-average annual
 
rate)
6.34
%
6.40
%
 
Decrease in fair value due to 10% adverse change
$
1,040
$
1,048
 
Decrease in fair value due to 20% adverse change
$
2,036
$
2,054
Discount rate (weighted-average annual rate)
10.70
%
10.69
%
 
Decrease in fair value due to 10% adverse change
$
1,960
$
1,925
 
Decrease in fair value due to 20% adverse change
$
3,770
$
3,704
v3.23.1
DEPOSITS (Tables)
 3 Months Ended
Mar. 31, 2023
DEPOSITS [Abstract]  
Summary of Deposit Balances [Table Text Block]
The following table summarizes deposit balances as of the indicated dates:
March 31, 2023
December 31, 2022
(In thousands)
Type of account and interest rate:
Non-interest-bearing deposit accounts
$
6,024,304
$
6,112,884
Interest-bearing saving accounts
3,808,182
3,902,888
Interest-bearing checking accounts
3,547,963
3,770,993
Certificates of deposit (“CDs”)
2,418,611
2,250,876
Brokered CDs
252,905
105,826
 
Total
$
16,051,965
$
16,143,467
Schedule of contractual maturities of CDs
The following table presents the contractual maturities of CDs, including brokered CDs, as of March 31,
 
2023:
Total
 
(In thousands)
Three months or less
$
499,307
Over three months to six months
361,274
Over six months to one year
732,933
Over one year to two years
 
751,913
Over two years to three years
 
155,590
Over three years to four years
 
46,748
Over four years to five years
 
117,009
Over five years
6,742
 
Total
$
2,671,516
Schedule of Interest Expenses on Deposits [Table Text Block]
The following were the components of interest expense on deposits for the
 
indicated periods:
Quarter Ended March 31,
2023
2022
(In thousands)
Interest expense on deposits
$
29,924
$
7,817
Accretion of premiums from acquisitions
(83)
(200)
Amortization of broker placement fees
44
35
 
Total
$
29,885
$
7,652
v3.23.1
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (REPURCHASE AGREEMENTS) (Tables)
 3 Months Ended
Mar. 31, 2023
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (REPURCHASE AGREEMENTS)[Abstract]  
Schedule Of Repurchase Agreements [Table Text Block]
Repurchase agreements as of the indicated dates consisted of the following:
March 31, 2023
December 31, 2022
(In thousands)
Short-term Fixed-rate repurchase agreements
(1)
$
172,982
$
75,133
(1)
Weighted-average interest rate
 
of
5.08
% and
4.55
% as of March 31, 2023 and December 31, 2022.
March 31,
 
2023
(In thousands)
Within one month
$
172,982
Weighted-Average
Counterparty
Amount
Maturity (In Months)
(Dollars in thousands)
JP Morgan Chase
$
172,982
1
v3.23.1
ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) (Tables)
 3 Months Ended
Mar. 31, 2023
ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) [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:
March 31,
 
December 31,
2023
2022
(In thousands)
Short-term
Fixed
-rate advances from the FHLB
(1)
$
425,000
$
475,000
Long-term
Fixed
-rate advances from the FHLB
(2)
500,000
200,000
$
925,000
$
675,000
(1)
Weighted-average interest rate of
5.04
% and
4.56
% as of March 31, 2023 and December 31, 2022, respectively.
(2)
Weighted-average interest rate of
4.45
% and
4.25
% as of March 31, 2023 and December 31, 2022, respectively.
Advances from the FHLB mature as follows as of the indicated date:
March 31, 2023
(In thousands)
Within one month
$
425,000
Over one to five years
500,000
 
Total
$
925,000
v3.23.1
OTHER BORROWINGS (Tables)
 3 Months Ended
Mar. 31, 2023
OTHER BORROWINGS [Abstract]  
Components of Other Borrowings [Table Text Block]
Junior subordinated debentures, as of the indicated dates, consisted of:
March 31,
 
December 31,
(In thousands)
2023
2022
Floating rate junior subordinated debentures (FBP Statutory Trust
 
I)
(1)
(3)
(4)
$
65,205
$
65,205
Floating rate junior subordinated debentures (FBP Statutory Trust
 
II)
(2) (3)
(4)
118,557
118,557
$
183,762
$
183,762
(1)
Amount represents junior subordinated interest-bearing debentures
 
due in 2034 with a floating interest rate of
2.75
% over
3-month LIBOR
 
(
7.66
% as of March 31, 2023 and
7.49
% as of
December 31, 2022).
(2)
Amount represents junior subordinated interest-bearing debentures
 
due in 2034 with a floating interest rate of
2.50
% over
3-month LIBOR
 
(
7.46
% as of March 31, 2023 and
7.25
% as of
December 31, 2022).
(3)
Following the provisions of the LIBOR Act and Regulation
 
ZZ, the LIBOR reference on these contracts will automatically transition
 
by operation of law to three-month CME Term
SOFR, plus a spread adjustment of 0.26161% on the first reset
 
date after USD LIBOR ceases publication in June 2023.
(4)
See Note 7 - Non-Consolidated Variable
 
Interest Entities
 
("VIEs") and Servicing Assets, for additional information on the nature
 
and terms of these debentures.
v3.23.1
EARNINGS PER COMMON SHARE (Tables)
 3 Months Ended
Mar. 31, 2023
EARNINGS PER COMMON SHARE [Abstract]  
Calculations of Earnings Per Common Share [Table Text Block]
The calculations of earnings per common share for the quarters ended March 31, 2023
 
and 2022 are as follows:
Quarter Ended March 31,
2023
2022
(In thousands, except per share information)
Net income attributable to common stockholders
$
70,698
$
82,600
Weighted-Average
 
Shares:
 
Average common
 
shares outstanding
180,215
198,130
 
Average potential
 
dilutive common shares
 
1,021
1,407
 
Average common
 
shares outstanding - assuming dilution
181,236
199,537
Earnings per common share:
Basic
 
$
0.39
$
0.42
Diluted
 
$
0.39
$
0.41
v3.23.1
STOCK-BASED COMPENSATION (Tables)
 3 Months Ended
Mar. 31, 2023
STOCK-BASED COMPENSATION [Abstract]  
Restricted Stock Activity Under Omnibus Plan [Table Text Block]
The following table summarizes the restricted stock activity under the Omnibus
 
Plan during the quarters ended March 31, 2023
and 2022:
Quarter ended
Quarter ended
March 31,
 
2023
March 31,
 
2022
Number of
Weighted-
Number of
Weighted-
shares of
Average
shares of
Average
restricted
Grant Date
restricted
Grant Date
stock
 
Fair Value
stock
 
Fair Value
Unvested shares outstanding at beginning of year
938,491
$
9.14
1,148,775
$
6.61
Granted
(1)
495,891
11.99
299,440
13.15
Forfeited
(25,415)
9.98
(3,092)
6.69
Vested
(481,536)
5.93
(487,198)
5.72
Unvested shares outstanding at end of period
927,431
$
12.32
957,925
$
9.10
(1)
For the quarter ended March 31, 2023, includes
3,502
 
shares of restricted stock awarded to independent directors and
492,389
 
shares of restricted stock awarded to employees, of which
33,718
 
shares were granted to retirement-eligible employees and thus
 
charged to earnings as of the grant date. Includes
 
for the quarter ended March 31, 2022,
3,048
 
shares of restricted
stock awarded to independent directors and
296,392
 
shares of restricted stock awarded to employees, of which
6,084
 
shares were granted to retirement-eligible employees and thus
charged to earnings as of the grant date.
Summary Of Performance Units Activity [Table Text Block]
Quarter ended
Quarter ended
March 31,
 
2023
March 31,
 
2022
Number
 
Weighted -
Number
 
Weighted -
of
Average
of
Average
Performance
Grant Date
Performance
Grant Date
Units
Fair Value
Units
Fair Value
Performance units at beginning of year
791,923
7.36
814,899
7.06
Additions
(1)
216,876
12.24
166,669
13.15
Vested
(2)
(474,538)
4.08
(189,645)
11.16
Performance units at end of period
534,261
12.25
791,923
7.36
(1)
Units granted during the quarter ended March 31, 2023
 
are based on the achievement of the Relative TSR and TBVPS
 
performance goals during a three-year performance cycle beginning
January 1, 2023 and ending on December 31, 2025. Units
 
granted during the quarter ended March 31, 2022 are based
 
on the TBVPS achievement of the performance goal during a three-
year performance cycle beginning January 1, 2022 and ending
 
on December 31, 2024.
(2)
Units vested during the quarter ended March 31, 2023 are
 
related to performance units granted in 2020 that met the pre-established
 
target and were settled with shares of common stock
reissued from treasury shares. Units vested during the quarter ended
 
March 31, 2022 are related to performance units granted in 2019
 
that met the pre-established target and were settled
with shares of common stock reissued from treasury shares.
Summary Of Valuation Assumptions [Table Text Block]
Quarter Ended
March 31,
 
2023
Risk-free interest rate
(1)
3.98
%
Correlation coefficient
77.16
Expected dividend yield
(2)
-
Expected volatility
(3)
41.37
Expected life (in years)
2.79
(1)
Based on the yield on zero-coupon U.S. Treasury
 
STRIPS as of the grant date.
(2)
Assumes that dividends are reinvested at each ex-dividend date.
(3)
Calculated based on the historical volatility of each company's
 
stock price with a look-back period equal to the simulation term
 
using daily stock prices.
v3.23.1
STOCKHOLDERS' EQUITY (Tables)
 3 Months Ended
Mar. 31, 2023
STOCKHOLDERS' EQUITY [Abstract]  
Changes In Share Of Common Stock [Table Text Block]
The following table shows the change in shares of common stock outstanding for
 
the quarters ended March 31, 2023, and 2022:
Total
 
Number of Shares
Quarter Ended March 31,
 
2023
2022
Common stock outstanding, beginning balance
182,709,059
201,826,505
Common stock repurchased
(1)
(3,865,375)
(3,611,627)
Common stock reissued under stock-based compensation plan
970,429
489,085
Restricted stock forfeited
(25,415)
(3,092)
Common stock outstanding, ending balances
179,788,698
198,700,871
 
(1)
For the quarters ended March 31,
 
2023 and 2022
 
includes
287,835
 
and
201,930
 
shares, respectively, of common stock
 
surrendered to cover officers' payroll and income taxes.
Changes In Treasury Stock [Table Text Block]
The following table shows the change in shares of treasury stock for the quarters ended
 
March 31,
 
2023 and 2022.
Total
 
Number of Shares
Quarter Ended March 31,
 
2023
2022
Treasury stock, beginning balance
40,954,057
21,836,611
Common stock repurchased
(1)
3,865,375
3,611,627
Common stock reissued under stock-based compensation plan
(970,429)
(489,085)
Restricted stock forfeited
25,415
3,092
Treasury stock, ending balances
43,874,418
24,962,245
(1)
For the quarters ended March 31,
 
2023 and 2022 includes
287,835
 
and
201,930
 
shares, respectively, of common stock
 
surrendered to cover officers' payroll and income taxes.
v3.23.1
ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)
 3 Months Ended
Mar. 31, 2023
ACCUMULATED OTHER COMPREHENSIVE LOSS [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]
Changes in Accumulated Other Comprehensive
 
Loss by Component
(1)
Quarter ended March 31,
2023
2022
(In thousands)
Unrealized net holding losses on available-for-sale
 
debt securities:
Beginning balance
$
(805,972)
$
(87,390)
 
Other comprehensive income (loss)
87,228
(331,834)
Ending balance
$
(718,744)
$
(419,224)
Adjustment of pension and postretirement
 
benefit plans:
Beginning balance
$
1,194
$
3,391
 
Other comprehensive income (loss)
-
-
Ending balance
$
1,194
$
3,391
____________________
(1) All amounts presented are net of tax.
v3.23.1
EMPLOYEE BENEFIT PLANS (Tables)
 3 Months Ended
Mar. 31, 2023
EMPLOYEE BENEFIT PLANS [Abstract]  
Schedule of Net Benefit Costs [Table Text Block]
Affected Line Item
in the Consolidated
Quarter Ended
Statements of Income
March 31, 2023
March 31, 2022
(In thousands)
Net periodic cost (benefit), pension plans:
Interest cost
Other expenses
$
950
$
654
Expected return on plan assets
Other expenses
(886)
(1,039)
Net periodic cost (benefit), pension plans
64
(385)
Net periodic cost, postretirement plan
Other expenses
6
1
Net periodic cost (benefit)
$
70
$
(384)
v3.23.1
FAIR VALUE (Tables)
 3 Months Ended
Mar. 31, 2023
FAIR VALUE [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
 
March 31, 2023 and December 31,
2022:
As of March 31, 2023
As of December 31, 2022
Fair Value Measurements Using
 
Fair Value Measurements Using
 
Level 1
Level 2
Level 3
Total
Level 1
Level 2
Level 3
Total
(In thousands)
Assets:
Debt securities available for sale:
U.S. Treasury securities
$
140,422
$
-
$
-
$
140,422
$
138,875
$
-
$
-
$
138,875
Noncallable U.S. agencies debt securities
-
428,675
-
428,675
-
389,787
-
389,787
Callable U.S. agencies debt securities
-
1,962,535
-
1,962,535
-
1,963,566
-
1,963,566
MBS
-
3,050,019
5,402
(1)
3,055,421
-
3,098,797
5,794
(1)
3,104,591
Puerto Rico government obligations
-
-
2,203
2,203
-
-
2,201
2,201
Other investments
-
-
-
-
-
-
500
500
Equity securities
4,926
-
-
4,926
4,861
-
-
4,861
Derivative assets
-
628
-
628
-
633
-
633
Liabilities:
Derivative liabilities
-
645
-
645
-
476
-
476
(1) Related to private label MBS.
Fair Value of Assets and Liabilities Measured on Recurring Basis [Table Text Block]
The table
 
below presents
 
a reconciliation
 
of the
 
beginning and
 
ending balances
 
of all
 
assets measured
 
at fair
 
value on
 
a recurring
basis using significant unobservable inputs (Level 3) for the quarters
 
ended March 31, 2023 and 2022:
Quarter Ended March 31,
 
2023
2022
Level 3 Instruments Only
 
 
Securities Available for Sale
(1)
Securities Available for Sale
(1)
(In thousands)
Beginning balance
$
8,495
$
11,084
 
Total gains (losses):
 
Included in other comprehensive loss (unrealized)
(162)
(287)
 
Included in earnings (unrealized)
(2)
9
388
 
Principal repayments and amortization
(3)
(737)
(538)
Ending balance
$
7,605
$
10,647
___________________
(1)
Amounts mostly related to private label MBS.
(2)
Changes in unrealized gains included in earnings were recognized within
 
provision for credit losses - expense (benefit) and
 
relate to assets still held as of the reporting date.
(3)
Includes the $
0.5
 
million repayment of a matured debt security.
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]
The tables below present quantitative information for significant assets measured at fair
 
value on a recurring basis using significant
unobservable inputs (Level 3) as of March 31, 2023 and December 31, 2022:
March 31, 2023
Fair Value
Valuation Technique
Unobservable Input
Range
Weighted
Average
Minimum
 
Maximum
(Dollars in thousands)
Available-for-sale
 
debt securities:
 
Private label MBS
$
5,402
Discounted cash flows
Discount rate
16.0%
16.0%
16.0%
Prepayment rate
1.6%
12.6%
9.2%
Projected cumulative loss rate
0.2%
14.9%
5.2%
 
Puerto Rico government obligations
$
2,203
Discounted cash flows
Discount rate
12.8%
12.8%
12.8%
Projected cumulative loss rate
19.0%
19.0%
19.0%
December 31, 2022
Fair Value
Valuation Technique
Unobservable Input
Range
Weighted
Average
Minimum
 
Maximum
(Dollars in thousands)
Available-for-sale
 
debt securities:
 
Private label MBS
$
5,794
Discounted cash flows
Discount rate
16.2%
16.2%
16.2%
Prepayment rate
1.5%
15.2%
11.8%
Projected cumulative loss rate
0.3%
15.6%
5.6%
 
Puerto Rico government obligations
$
2,201
Discounted cash flows
Discount rate
12.9%
12.9%
12.9%
Projected cumulative loss rate
19.3%
19.3%
19.3%
Impairment or Valuation Adjustments were Recorded for Assets Recognized at Fair Value [Table Text Block]
As of March 31, 2023, the Corporation recorded losses or valuation adjustments
 
for assets recognized at fair value on a non-
recurring basis and still held at March 31, 2023, as shown in the following table:
Carrying value as of March 31,
 
Related to losses recorded for the Quarter Ended
March 31,
 
2023
2022
2023
2022
(In thousands)
Level 3:
Loans receivable
 
(1)
$
3,486
$
25,951
$
(60)
$
(3,539)
OREO
(2)
814
1,432
(33)
(73)
(1)
Consists mainly of
 
collateral dependent
 
commercial and construction
 
loans. The
 
Corporation generally
 
measured losses
 
based on the
 
fair value of
 
the collateral.
 
The Corporation derived
the fair values from
 
external appraisals that
 
took into consideration
 
prices in observed
 
transactions involving similar
 
assets in similar locations
 
but adjusted for
 
specific characteristics
 
and
assumptions of the collateral (e.g., absorption rates), which are
 
not market observable.
(2)
The Corporation
 
derived the
 
fair values
 
from appraisals
 
that took
 
into consideration
 
prices in
 
observed transactions
 
involving similar
 
assets in
 
similar locations
 
but adjusted
 
for specific
characteristics and assumptions of
 
the properties (e.g., absorption
 
rates and net operating
 
income of income producing
 
properties), which are not
 
market observable. Losses
 
were related to
market valuation adjustments after the transfer of the loans to the
 
OREO portfolio.
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 March 31, 2023 and December 31, 2022:
Total Carrying Amount
in Statement of
Financial Condition as
of March 31, 2023
Fair Value Estimate as
 
of
March 31, 2023
Level 1
Level 2
Level 3
(In thousands)
Assets:
Cash and due from banks and money market investments
 
(amortized cost)
$
823,601
$
823,601
$
823,601
$
-
$
-
Available-for-sale debt
 
securities (fair value)
5,589,256
5,589,256
140,422
5,441,229
7,605
Held-to-maturity debt securities (amortized cost)
431,395
Less: ACL on held-to-maturity debt securities
(7,646)
Held-to-maturity debt securities, net of ACL
$
423,749
419,752
-
255,209
164,543
Equity securities (amortized cost)
61,788
61,788
-
61,788
(1)
-
Other equity securities (fair value)
4,926
4,926
4,926
-
-
Loans held for sale (lower of cost or market)
15,183
15,214
-
15,214
-
Loans held for investment (amortized cost)
11,577,985
Less: ACL for loans and finance leases
(265,567)
Loans held for investment, net of ACL
$
11,312,418
11,030,421
-
-
11,030,421
MSRs (amortized cost)
28,431
45,270
-
-
45,270
Derivative assets (fair value)
 
(2)
628
628
-
628
-
Liabilities:
Deposits (amortized cost)
$
16,051,965
$
16,039,550
$
-
$
16,039,550
$
-
Short-term securities sold under agreements to repurchase (amortized
 
cost)
172,982
173,936
-
173,936
-
Advances from the FHLB (amortized cost):
 
Short-term
425,000
426,665
-
426,665
-
 
Long-term
500,000
501,990
-
501,990
-
Other long-term borrowings (amortized cost)
183,762
187,183
-
-
187,183
Derivative liabilities (fair value)
 
(2)
645
645
-
645
-
(1) Includes FHLB stock with a carrying value of $
54.2
 
million, which are considered restricted.
(2) Includes interest rate swap agreements, interest rate caps, forward contracts, interest rate lock commitments, and forward loan sales commitments.
Total Carrying
Amount in Statement
of Financial Condition
as of December 31,
2022
Fair Value Estimate as
 
of
December 31, 2022
Level 1
Level 2
Level 3
(In thousands)
Assets:
Cash and due from banks and money market investments (amortized
 
cost)
$
480,505
$
480,505
$
480,505
$
-
$
-
Available-for-sale debt
 
securities (fair value)
5,599,520
5,599,520
138,875
5,452,150
8,495
Held-to-maturity debt securities (amortized cost)
437,537
Less: ACL on held-to-maturity debt securities
(8,286)
Held-to-maturity debt securities, net of ACL
$
429,251
427,115
-
260,106
167,009
Equity securities (amortized cost)
50,428
50,428
-
50,428
(1)
-
Other equity securities (fair value)
4,861
4,861
4,861
-
-
Loans held for sale (lower of cost or market)
12,306
12,306
-
12,306
-
Loans held for investment (amortized cost)
11,552,825
Less: ACL for loans and finance leases
(260,464)
Loans held for investment, net of ACL
$
11,292,361
11,106,809
-
-
11,106,809
MSRs (amortized cost)
29,037
44,710
-
-
44,710
Derivative assets (fair value)
(2)
633
633
-
633
-
Liabilities:
Deposits (amortized cost)
$
16,143,467
$
16,139,937
$
-
$
16,139,937
$
-
Short-term securities sold under agreements to repurchase (amortized
 
cost)
75,133
75,230
-
75,230
-
Advances from the FHLB (amortized cost)
 
Short-term
475,000
474,731
-
474,731
-
 
Long-term
200,000
199,865
-
199,865
-
Other long-term borrowings (amortized cost)
183,762
187,246
-
-
187,246
Derivative liabilities (fair value)
(2)
476
476
-
476
-
(1) Includes FHLB stock with a carrying value of $
42.9
 
million, which are considered restricted.
(2) Includes interest rate swap agreements, interest rate caps, forward contracts, interest rate lock commitments, and forward loan sales commitments.
v3.23.1
REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)
 3 Months Ended
Mar. 31, 2023
REVENUE FROM CONTRACTS WITH CUSTOMERS [Abstract]  
Disaggregation of Revenue [Table Text Block]
Quarter ended March 31, 2023
Mortgage
Banking
Consumer
(Retail)
Banking
Commercial
and Corporate
Treasury and
Investments
United States
Operations
Virgin Islands
Operations
Total
(In thousands)
Net interest income
(1)
$
21,788
$
137,744
$
14,940
$
(658)
$
20,930
$
6,141
$
200,885
Service charges and fees on deposit accounts
-
5,486
3,154
-
165
736
9,541
Insurance commissions
-
4,640
-
-
28
179
4,847
Merchant-related income
-
2,263
-
-
29
468
2,760
Credit and debit card fees
-
7,638
22
-
2
496
8,158
Other service charges and fees
161
1,152
854
-
583
344
3,094
Not in scope of ASC Topic
 
606
 
(1)
2,913
855
145
160
40
5
4,118
 
Total non-interest income
3,074
22,034
4,175
160
847
2,228
32,518
Total Revenue
$
24,862
$
159,778
$
19,115
$
(498)
$
21,777
$
8,369
$
233,403
Quarter ended March 31, 2022
Mortgage
Banking
Consumer
(Retail)
Banking
Commercial
and Corporate
Treasury and
Investments
United States
Operations
Virgin Islands
Operations
Total
(In thousands)
Net interest income
(1)
$
25,779
$
89,546
$
40,415
$
7,409
$
16,482
$
5,993
$
185,624
Service charges and fees on deposit accounts
-
5,539
2,976
-
138
710
9,363
Insurance commissions
-
4,967
-
-
29
279
5,275
Merchant-related income
-
1,822
373
-
5
389
2,589
Credit and debit card fees
-
6,671
16
-
(7)
410
7,090
Other service charges and fees
143
1,110
1,113
-
499
157
3,022
Not in scope of ASC Topic
 
606
(1)
5,109
354
76
(112)
80
12
5,519
Total non-interest
 
income
5,252
20,463
4,554
(112)
744
1,957
32,858
Total Revenue
$
31,031
$
110,009
$
44,969
$
7,297
$
17,226
$
7,950
$
218,482
(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.
Activity of Contract Liabilities [Table Text Block]
Quarter Ended March 31,
 
2023
2022
(In thousands)
Beginning Balance
$
841
$
1,443
Less:
 
Revenue recognized
(81)
(289)
Ending balance
$
760
$
1,154
v3.23.1
SEGMENT INFORMATION (Tables)
 3 Months Ended
Mar. 31, 2023
SEGMENT INFORMATION [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 quarter ended March 31, 2023:
Interest income
$
31,907
$
83,174
$
62,343
$
27,466
$
31,114
$
6,392
$
242,396
Net (charge) credit for transfer of funds
(10,119)
77,735
(47,403)
(19,539)
(674)
-
-
Interest expense
-
(23,165)
-
(8,585)
(9,510)
(251)
(41,511)
Net interest income (loss)
21,788
137,744
14,940
(658)
20,930
6,141
200,885
Provision for credit losses - (benefit) expense
(506)
15,224
(2,536)
(9)
4,655
(1,326)
15,502
Non-interest income
3,074
22,034
4,175
160
847
2,228
32,518
Direct non-interest expenses
5,087
41,627
9,365
947
8,304
6,825
72,155
 
Segment income (loss)
$
20,281
$
102,927
$
12,286
$
(1,436)
$
8,818
$
2,870
$
145,746
Average earnings assets
$
2,171,061
$
3,174,150
$
3,713,633
$
6,216,498
$
2,067,848
$
366,338
$
17,709,528
Mortgage
Banking
Consumer
(Retail) Banking
Commercial and
Corporate
Banking
Treasury and
Investments
United States
Operations
Virgin Islands
Operations
Total
(In thousands)
For the quarter ended March 31, 2022:
Interest income
$
33,071
$
70,437
$
47,027
$
22,184
$
18,857
$
6,278
$
197,854
Net (charge) credit for transfer of funds
(7,292)
24,282
(6,612)
(9,949)
(429)
-
-
Interest expense
-
(5,173)
-
(4,826)
(1,946)
(285)
(12,230)
Net interest income
 
25,779
89,546
40,415
7,409
16,482
5,993
185,624
Provision for credit losses - (benefit) expense
(3,703)
11,144
(16,622)
(388)
(3,547)
(686)
(13,802)
Non-interest income (loss)
5,252
20,463
4,554
(112)
744
1,957
32,858
Direct non-interest expenses
6,906
39,271
8,859
885
8,479
6,973
71,373
 
Segment income
$
27,828
$
59,594
$
52,732
$
6,800
$
12,294
$
1,663
$
160,911
Average earnings assets
$
2,293,648
$
2,759,482
$
3,664,104
$
8,145,949
$
2,065,638
$
378,169
$
19,306,990
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:
Quarter Ended March 31,
2023
2022
(In thousands)
Net income:
 
Total income for segments
 
$
145,746
$
160,911
Other operating expenses
 
(1)
43,113
35,286
Income before income taxes
102,633
125,625
Income tax expense
31,935
43,025
 
Total consolidated net income
$
70,698
$
82,600
Average assets:
Total average earning assets for segments
 
$
17,709,528
$
19,306,990
Average non-earning assets
 
847,628
947,011
 
Total consolidated average assets
$
18,557,156
$
20,254,001
(1)
Expenses pertaining to corporate administrative functions that support
 
the operating segment, but are not specifically attributable
 
to or managed by any segment, are not included in the
reported financial results of the operating segments. The
 
unallocated corporate expenses include certain general and administrative
 
expenses and related depreciation and amortization
expenses.
v3.23.1
SUPPLEMENTAL STATEMENT OF CASH FLOWS INFORMATION (Tables)
 3 Months Ended
Mar. 31, 2023
SUPPLEMENTAL STATEMENT OF CASH FLOWS INFORMATION [Abstract]  
Supplemental Cash Flow Information [Table Text Block]
Supplemental statement of cash flows information is as follows for the indicated
 
periods:
Quarter Ended March 31,
 
2023
2022
(In thousands)
Cash paid for:
 
Interest on borrowings
$
37,798
$
13,300
 
Income tax
 
10,926
2,598
 
Operating cash flow from operating leases
4,316
4,751
Non-cash investing and financing activities:
 
Additions to OREO
6,414
6,770
 
Additions to auto and other repossessed assets
15,356
10,772
 
Capitalization of servicing assets
532
1,130
 
Loan securitizations
28,736
40,823
 
Loans held for investment transferred to held for sale
2,345
1,176
 
Payable related to unsettled purchases of available-for-sale debt securities
-
15,000
 
ROU assets obtained in exchange for operating lease liabilities
1,630
2,791
v3.23.1
REGULATORY MATTERS, COMMITMENTS, AND CONTINGENCIES (Tables)
 3 Months Ended
Mar. 31, 2023
REGULATORY MATTERS, COMMITMENTS, AND CONTINGENCIES [Abstract]  
Corporations and its banking subsidiary's 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 March 31, 2023
Total Capital (to Risk-Weighted
 
Assets)
 
First BanCorp.
$
2,366,591
19.02
%
$
995,597
8.0
%
N/A
N/A
%
 
FirstBank
$
2,327,600
18.71
%
$
995,452
8.0
%
$
1,244,315
10.0
%
CET1 Capital (to Risk-Weighted Assets)
 
First BanCorp.
$
2,032,369
16.33
%
$
560,023
4.5
%
N/A
N/A
%
 
FirstBank
$
2,071,650
16.65
%
$
559,942
4.5
%
$
808,805
6.5
%
Tier I Capital (to Risk-Weighted
 
Assets)
 
First BanCorp.
$
2,032,369
16.33
%
$
746,697
6.0
%
N/A
N/A
%
 
FirstBank
$
2,171,650
17.45
%
$
746,589
6.0
%
$
995,452
8.0
%
Leverage ratio
 
First BanCorp.
$
2,032,369
10.57
%
$
769,399
4.0
%
N/A
N/A
%
 
FirstBank
$
2,171,650
11.29
%
$
769,102
4.0
%
$
961,378
5.0
%
As of December 31, 2022
Total Capital (to Risk-Weighted
 
Assets)
 
First BanCorp.
$
2,385,866
19.21
%
$
993,405
8.0
%
N/A
N/A
%
 
FirstBank
$
2,346,093
18.90
%
$
993,264
8.0
%
$
1,241,580
10.0
%
CET1 Capital (to Risk-Weighted Assets)
 
First BanCorp.
$
2,052,333
16.53
%
$
558,790
4.5
%
N/A
N/A
%
 
FirstBank
$
2,090,832
16.84
%
$
558,711
4.5
%
$
807,027
6.5
%
Tier I Capital (to Risk-Weighted
 
Assets)
 
First BanCorp.
$
2,052,333
16.53
%
$
745,054
6.0
%
N/A
N/A
%
 
FirstBank
$
2,190,832
17.65
%
$
744,948
6.0
%
$
993,264
8.0
%
Leverage ratio
 
First BanCorp.
$
2,052,333
10.70
%
$
767,075
4.0
%
N/A
N/A
%
 
FirstBank
$
2,190,832
11.43
%
$
766,714
4.0
%
$
958,392
5.0
%
v3.23.1
FIRST BANCORP. (Holding Company Only) Financial Information (Tables)
 3 Months Ended
Mar. 31, 2023
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Statements of Financial Condition [Table Text Block]
Statements of Financial Condition
As of March 31,
 
As of December 31,
2023
2022
(In thousands)
Assets
Cash and due from banks
$
13,981
$
19,279
Other investment securities
735
735
Investment in First Bank Puerto Rico, at equity
1,544,874
1,464,026
Investment in First Bank Insurance Agency,
 
at equity
32,374
28,770
Investment in FBP Statutory Trust I
1,951
1,951
Investment in FBP Statutory Trust II
3,561
3,561
Dividends receivable
637
624
Other assets
426
430
 
Total assets
$
1,598,539
$
1,519,376
Liabilities and Stockholders’ Equity
Liabilities:
Long-term borrowings
 
$
183,762
$
183,762
Accounts payable and other liabilities
9,184
10,074
 
Total liabilities
192,946
193,836
Stockholders’ equity
1,405,593
1,325,540
 
Total liabilities and stockholders’
 
equity
$
1,598,539
$
1,519,376
Statements of Income [Table Text Block]
Statements of Income
 
Quarter Ended March 31,
2023
2022
(In thousands)
Income
 
 
Interest income on money market investments
 
$
53
$
4
 
Dividend income from banking subsidiaries
78,870
63,593
 
Other income
102
40
 
Total income
79,025
63,637
Expense
 
Other borrowings
3,381
1,333
 
Other operating expenses
410
439
 
Total expense
3,791
1,772
Income before income taxes and equity in undistributed
 
earnings of subsidiaries
75,234
61,865
Income tax expense
1,078
1,106
Equity in undistributed earnings of subsidiaries (distribution in excess of
 
earnings)
(3,458)
21,841
Net income
$
70,698
$
82,600
Other comprehensive income (loss), net of tax
87,228
(331,834)
Comprehensive income (loss)
$
157,926
$
(249,234)
v3.23.1
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Adoption of new Accounting Pronouncements (Detail) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Mar. 31, 2022
Dec. 31, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Retained earnings $ 1,688,176 $ 1,644,209    
Treasury stock, at cost 547,311 506,979    
Additional paid-in capital 959,912 970,722    
Allowance for credit losses $ 265,567 260,464 $ 245,447 $ 269,030
Restatement Adjustment [Member]        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Retained earnings   (1,300)    
Allowance for credit losses   $ 2,100    
v3.23.1
DEBT SECURITIES - Investment Securities Available for Sale (Detail) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Schedule Of Available For Sale Securities [Line Items]    
Amortized cost $ 6,300,696 $ 6,398,197
Gross Unrealized Gains 287 247
Gross Unrealized Losses 711,278 798,466
Allowance for Credit Losses 449 458
Fair value $ 5,589,256 $ 5,599,520
Weighted-average yield 1.23% 1.22%
Accrued interest receivable excluded from estimate of credit losses $ 10,700 $ 11,100
U.S. Treasury securities [Member]    
Schedule Of Available For Sale Securities [Line Items]    
Amortized cost Due within one year 27,744 7,493
Gross Unrealized Gains Due within one year 0 0
Gross Unrealized Losses Due within one year 890 309
Allowance for Credit Losses within one year 0 0
Fair value Due within one year $ 26,854 $ 7,184
Weighted-average yield Due within one year 0.61% 0.22%
Amortized cost After 1 to 5 years $ 120,916 $ 141,366
Gross Unrealized Gains After 1 to 5 years 0 0
Gross Unrealized Losses After 1 to 5 years 7,348 9,675
Allowance for Credit Losses After 1 to 5 years 0 0
Fair value After 1 to 5 years $ 113,568 $ 131,691
Weighted-average yield After 1 to 5 years 0.69% 0.70%
U.S. GSE's obligations [Member]    
Schedule Of Available For Sale Securities [Line Items]    
Amortized cost Due within one year $ 189,174 $ 129,018
Gross Unrealized Gains Due within one year 0 0
Gross Unrealized Losses Due within one year 5,100 4,036
Allowance for Credit Losses within one year 0 0
Fair value Due within one year $ 184,074 $ 124,982
Weighted-average yield Due within one year 0.42% 0.32%
Amortized cost After 1 to 5 years $ 2,349,522 $ 2,395,273
Gross Unrealized Gains After 1 to 5 years 22 22
Gross Unrealized Losses After 1 to 5 years 190,986 227,724
Allowance for Credit Losses After 1 to 5 years 0 0
Fair value After 1 to 5 years $ 2,158,558 $ 2,167,571
Weighted-average yield After 1 to 5 years 0.84% 0.83%
Amortized cost After 5 to 10 years $ 41,916 $ 56,251
Gross Unrealized Gains After 5 to 10 years 8 13
Gross Unrealized Losses After 5 to 10 years 4,998 7,670
Allowance for Credit Losses After 5 to 10 years 0 0
Fair value After 5 to 10 years $ 36,926 $ 48,594
Weighted-average yield After 5 to 10 years 1.64% 1.54%
Amortized cost After 10 years $ 11,625 $ 12,170
Gross Unrealized Gains After 10 years 27 36
Gross Unrealized Losses After 10 years 0 0
Allowance for Credit Losses After 10 years 0 0
Fair value After 10 years $ 11,652 $ 12,206
Weighted-average yield After 10 years 5.15% 4.62%
Puerto Rico government obligations [Member]    
Schedule Of Available For Sale Securities [Line Items]    
Amortized cost After 10 years $ 3,302 $ 3,331
Gross Unrealized Gains After 10 years 0 0
Gross Unrealized Losses After 10 years 733 755
Allowance for Credit Losses After 10 years 366 375
Fair value After 10 years $ 2,203 $ 2,201
Weighted-average yield After 10 years 0.00% 0.00%
Allowance for Credit Losses $ 400 $ 400
United States And Puerto Rico Government Obligations [Member]    
Schedule Of Available For Sale Securities [Line Items]    
Amortized cost 2,744,199 2,744,902
Gross Unrealized Gains 57 71
Gross Unrealized Losses 210,055 250,169
Allowance for Credit Losses 366 375
Fair value $ 2,533,835 $ 2,494,429
Weighted-average yield 0.83% 0.83%
Residential MBS [Member]    
Schedule Of Available For Sale Securities [Line Items]    
Amortized cost $ 3,363,942 $ 3,455,864
Gross Unrealized Gains 223 176
Gross Unrealized Losses 467,427 514,499
Allowance for Credit Losses 83 83
Fair value $ 2,896,655 $ 2,941,458
Weighted-average yield 1.55% 1.52%
Residential MBS [Member] | FHLMC [Member]    
Schedule Of Available For Sale Securities [Line Items]    
Amortized cost After 1 to 5 years $ 10,023 $ 4,235
Gross Unrealized Gains After 1 to 5 years 0 0
Gross Unrealized Losses After 1 to 5 years 454 169
Allowance for Credit Losses After 1 to 5 years 0 0
Fair value After 1 to 5 years $ 9,569 $ 4,066
Weighted-average yield After 1 to 5 years 1.98% 2.33%
Amortized cost After 5 to 10 years $ 187,007 $ 201,072
Gross Unrealized Gains After 5 to 10 years 0 0
Gross Unrealized Losses After 5 to 10 years 15,912 18,709
Allowance for Credit Losses After 5 to 10 years 0 0
Fair value After 5 to 10 years $ 171,095 $ 182,363
Weighted-average yield After 5 to 10 years 1.56% 1.55%
Amortized cost After 10 years $ 1,068,680 $ 1,092,289
Gross Unrealized Gains After 10 years 0 0
Gross Unrealized Losses After 10 years 170,021 186,558
Allowance for Credit Losses After 10 years 0 0
Fair value After 10 years $ 898,659 $ 905,731
Weighted-average yield After 10 years 1.41% 1.38%
Amortized cost $ 1,265,710 $ 1,297,596
Gross Unrealized Gains 0 0
Gross Unrealized Losses 186,387 205,436
Allowance for Credit Losses 0 0
Fair value $ 1,079,323 $ 1,092,160
Weighted-average yield 1.44% 1.41%
Residential MBS [Member] | GNMA [Member]    
Schedule Of Available For Sale Securities [Line Items]    
Amortized cost Due within one year $ 3 $ 5
Gross Unrealized Gains Due within one year 0 0
Gross Unrealized Losses Due within one year 0 0
Allowance for Credit Losses within one year 0 0
Fair value Due within one year $ 3 $ 5
Weighted-average yield Due within one year 2.42% 1.73%
Amortized cost After 1 to 5 years $ 23,293 $ 15,508
Gross Unrealized Gains After 1 to 5 years 0 0
Gross Unrealized Losses After 1 to 5 years 1,253 622
Allowance for Credit Losses After 1 to 5 years 0 0
Fair value After 1 to 5 years $ 22,040 $ 14,886
Weighted-average yield After 1 to 5 years 1.31% 2.00%
Amortized cost After 5 to 10 years $ 33,939 $ 45,322
Gross Unrealized Gains After 5 to 10 years 0 1
Gross Unrealized Losses After 5 to 10 years 2,720 3,809
Allowance for Credit Losses After 5 to 10 years 0 0
Fair value After 5 to 10 years $ 31,219 $ 41,514
Weighted-average yield After 5 to 10 years 1.69% 1.31%
Amortized cost After 10 years $ 225,680 $ 232,632
Gross Unrealized Gains After 10 years 119 51
Gross Unrealized Losses After 10 years 24,080 27,169
Allowance for Credit Losses After 10 years 0 0
Fair value After 10 years $ 201,719 $ 205,514
Weighted-average yield After 10 years 2.58% 2.47%
Amortized cost $ 282,915 $ 293,467
Gross Unrealized Gains 119 52
Gross Unrealized Losses 28,053 31,600
Allowance for Credit Losses 0 0
Fair value $ 254,981 $ 261,919
Weighted-average yield 2.37% 2.27%
Residential MBS [Member] | FNMA [Member]    
Schedule Of Available For Sale Securities [Line Items]    
Amortized cost After 1 to 5 years $ 24,446 $ 9,685
Gross Unrealized Gains After 1 to 5 years 0 0
Gross Unrealized Losses After 1 to 5 years 1,249 521
Allowance for Credit Losses After 1 to 5 years 0 0
Fair value After 1 to 5 years $ 23,197 $ 9,164
Weighted-average yield After 1 to 5 years 1.72% 1.76%
Amortized cost After 5 to 10 years $ 353,397 $ 358,346
Gross Unrealized Gains After 5 to 10 years 0 0
Gross Unrealized Losses After 5 to 10 years 28,963 31,620
Allowance for Credit Losses After 5 to 10 years 0 0
Fair value After 5 to 10 years $ 324,434 $ 326,726
Weighted-average yield After 5 to 10 years 1.74% 1.68%
Amortized cost After 10 years $ 1,133,757 $ 1,186,635
Gross Unrealized Gains After 10 years 104 124
Gross Unrealized Losses After 10 years 168,025 186,757
Allowance for Credit Losses After 10 years 0 0
Fair value After 10 years $ 965,836 $ 1,000,002
Weighted-average yield After 10 years 1.37% 1.38%
Amortized cost $ 1,511,600 $ 1,554,666
Gross Unrealized Gains 104 124
Gross Unrealized Losses 198,237 218,898
Allowance for Credit Losses 0 0
Fair value $ 1,313,467 $ 1,335,892
Weighted-average yield 1.47% 1.45%
Residential MBS [Member] | Collateralized mortgage obligations guaranteed by FHLMC, FNMA and GNMA [Member]    
Schedule Of Available For Sale Securities [Line Items]    
Amortized cost After 10 years $ 296,022 $ 302,232
Gross Unrealized Gains After 10 years 0 0
Gross Unrealized Losses After 10 years 52,540 56,539
Allowance for Credit Losses After 10 years 0 0
Fair value After 10 years $ 243,482 $ 245,693
Weighted-average yield After 10 years 1.49% 1.44%
Residential MBS [Member] | Private label [Member]    
Schedule Of Available For Sale Securities [Line Items]    
Amortized cost After 10 years $ 7,695 $ 7,903
Gross Unrealized Gains After 10 years 0 0
Gross Unrealized Losses After 10 years 2,210 2,026
Allowance for Credit Losses After 10 years 83 83
Fair value After 10 years $ 5,402 $ 5,794
Weighted-average yield After 10 years 7.25% 6.83%
Gross Unrealized Losses $ 2,300  
Allowance for Credit Losses 100 $ 100
Fair value $ 5,400  
Weighted-average yield 7.25%  
Commercial Mortgage Backed Securities [Member]    
Schedule Of Available For Sale Securities [Line Items]    
Amortized cost After 1 to 5 years $ 27,584 30,578
Gross Unrealized Gains After 1 to 5 years 7 0
Gross Unrealized Losses After 1 to 5 years 4,551 4,463
Allowance for Credit Losses After 1 to 5 years 0 0
Fair value After 1 to 5 years $ 23,040 $ 26,115
Weighted-average yield After 1 to 5 years 2.27% 2.43%
Amortized cost After 5 to 10 years $ 44,584 $ 44,889
Gross Unrealized Gains After 5 to 10 years 0 0
Gross Unrealized Losses After 5 to 10 years 4,929 5,603
Allowance for Credit Losses After 5 to 10 years 0 0
Fair value After 5 to 10 years $ 39,655 $ 39,286
Weighted-average yield After 5 to 10 years 1.90% 1.89%
Amortized cost After 10 years $ 120,387 $ 121,464
Gross Unrealized Gains After 10 years 0 0
Gross Unrealized Losses After 10 years 24,316 23,732
Allowance for Credit Losses After 10 years 0 0
Fair value After 10 years $ 96,071 $ 97,732
Weighted-average yield After 10 years 1.23% 1.23%
Amortized cost $ 192,555 $ 196,931
Gross Unrealized Gains 7 0
Gross Unrealized Losses 33,796 33,798
Allowance for Credit Losses 0 0
Fair value $ 158,766 $ 163,133
Weighted-average yield 1.53% 1.56%
Mortgage Backed Securities [Member]    
Schedule Of Available For Sale Securities [Line Items]    
Amortized cost $ 3,556,497 $ 3,652,795
Gross Unrealized Gains 230 176
Gross Unrealized Losses 501,223 548,297
Allowance for Credit Losses 83 83
Fair value $ 3,055,421 $ 3,104,591
Weighted-average yield 1.54% 1.52%
Other Debt Obligations [Member]    
Schedule Of Available For Sale Securities [Line Items]    
Amortized cost Due within one year   $ 500
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   $ 500
Weighted-average yield Due within one year   0.84%
v3.23.1
DEBT SECURITIES - Additional Information (Detail) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Dec. 31, 2021
Schedule Of Investments [Line Items]        
Fair value $ 5,589,256   $ 5,599,520  
Gross Unrealized Losses 711,278   798,466  
Available-for-sale, allowance for credit losses 449   458  
Allowance for credit losses, Held-to-Maturity securities 7,646   8,286  
Debt Securities, Held-to-maturity 431,395   437,537  
Interest Receivable 63,841   69,730  
Municipal Bonds [Member] | Puerto Rico [Member]        
Schedule Of Investments [Line Items]        
Allowance for credit losses, Held-to-Maturity securities 7,646 $ 12,324 8,286 $ 8,571
Provision for credit loss expense (640) 3,753    
Debt Securities, Held-to-maturity 165,800   165,710  
Puerto Rico government obligations [Member]        
Schedule Of Investments [Line Items]        
Available-for-sale, allowance for credit losses 400   400  
Residential Mortgage Backed Securities [Member]        
Schedule Of Investments [Line Items]        
Fair value 2,896,655   2,941,458  
Gross Unrealized Losses 467,427   514,499  
Available-for-sale, allowance for credit losses 83   83  
Allowance for credit losses, Held-to-Maturity securities 0   0  
Debt Securities, Held-to-maturity 161,587   166,739  
Residential Mortgage Backed Securities [Member] | Private label [Member]        
Schedule Of Investments [Line Items]        
Fair value 5,400      
Gross Unrealized Losses 2,300      
Available-for-sale, allowance for credit losses 100   100  
Residential Pass-Through Mortgage Backed Securities Issued By PRHFA [Member]        
Schedule Of Investments [Line Items]        
Fair value 2,200      
Gross Unrealized Losses 1,100      
Provision For Other Credit Losses No Previous Expected Credit Losses 400      
Available-for-sale Securities [Member]        
Schedule Of Investments [Line Items]        
Available-for-sale, allowance for credit losses 449 711 458 1,105
Provision For Other Credit Losses Previous Expected Credit Losses 9 388    
Charge-offs   6    
Available-for-sale Securities [Member] | Puerto Rico government obligations [Member]        
Schedule Of Investments [Line Items]        
Available-for-sale, allowance for credit losses 366 308 375 308
Provision For Other Credit Losses Previous Expected Credit Losses 9 0    
Charge-offs   0    
Available-for-sale Securities [Member] | Residential Mortgage Backed Securities [Member] | Private label [Member]        
Schedule Of Investments [Line Items]        
Available-for-sale, allowance for credit losses 83 403 $ 83 $ 797
Provision For Other Credit Losses Previous Expected Credit Losses $ 0 388    
Charge-offs   $ 6    
Available-for-sale Securities [Member] | Residential Mortgage Backed Securities [Member] | Private label [Member] | FICO Score, Greater than 700 [Member] | LTV Less than 80 Percent [Member]        
Schedule Of Investments [Line Items]        
Financing Receivable, Credit Quality, Additional Information The underlying collateral is fixed-rate, single-family residential mortgage loans in the United States with original FICO scores over 700 and moderate loan-to-value ratios (under 80%), as well as moderate delinquency levels.      
Available-for-sale Securities [Member] | Residential Mortgage Backed Securities [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.      
v3.23.1
DEBT SECURITIES - Available-For-Sale Investments' Fair Value And Gross Unrealized Losses (Detail) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Schedule Of Available For Sale Securities [Line Items]    
Fair Value Less than 12 months $ 140,533 $ 1,115,192
Unrealized Losses Less than 12 months 4,267 125,343
Fair Value 12 months or more 5,404,287 4,447,686
Unrealized Losses 12 months or more 707,011 673,123
Total Fair Value 5,544,820 5,562,878
Total Unrealized Losses 711,278 798,466
Allowance for Credit Losses 449 458
U.S. Treasury and U.S. government agencies obligations [Member]    
Schedule Of Available For Sale Securities [Line Items]    
Fair Value Less than 12 months 17,615 298,313
Unrealized Losses Less than 12 months 611 18,057
Fair Value 12 months or more 2,496,925 2,174,724
Unrealized Losses 12 months or more 208,711 231,357
Total Fair Value 2,514,540 2,473,037
Total Unrealized Losses 209,322 249,414
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 2,203 2,201
Unrealized Losses 12 months or more 733 755
Total Fair Value 2,203 2,201
Total Unrealized Losses 733 755
Allowance for Credit Losses 400 400
Residential MBS [Member]    
Schedule Of Available For Sale Securities [Line Items]    
Allowance for Credit Losses 83 83
Residential MBS [Member] | Private label [Member]    
Schedule Of Available For Sale Securities [Line Items]    
Allowance for Credit Losses 100 100
Residential MBS [Member] | FHLMC [Member]    
Schedule Of Available For Sale Securities [Line Items]    
Fair Value Less than 12 months 21,354 260,524
Unrealized Losses Less than 12 months 710 45,424
Fair Value 12 months or more 1,057,950 831,637
Unrealized Losses 12 months or more 185,677 160,012
Total Fair Value 1,079,304 1,092,161
Total Unrealized Losses 186,387 205,436
Residential MBS [Member] | GNMA [Member]    
Schedule Of Available For Sale Securities [Line Items]    
Fair Value Less than 12 months 45,949 74,829
Unrealized Losses Less than 12 months 868 3,433
Fair Value 12 months or more 197,581 179,854
Unrealized Losses 12 months or more 27,185 28,167
Total Fair Value 243,530 254,683
Total Unrealized Losses 28,053 31,600
Residential MBS [Member] | FNMA [Member]    
Schedule Of Available For Sale Securities [Line Items]    
Fair Value Less than 12 months 41,186 405,977
Unrealized Losses Less than 12 months 1,741 49,479
Fair Value 12 months or more 1,262,700 920,200
Unrealized Losses 12 months or more 196,496 169,419
Total Fair Value 1,303,886 1,326,177
Total Unrealized Losses 198,237 218,898
Residential 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 10,596 45,370
Unrealized Losses Less than 12 months 117 6,735
Fair Value 12 months or more 232,886 200,323
Unrealized Losses 12 months or more 52,423 49,804
Total Fair Value 243,482 245,693
Total Unrealized Losses 52,540 56,539
Residential 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 5,402 5,794
Unrealized Losses 12 months or more 2,210 2,026
Total Fair Value 5,402 5,794
Total Unrealized Losses 2,210 2,026
Commercial MBS [Member]    
Schedule Of Available For Sale Securities [Line Items]    
Fair Value Less than 12 months 3,833 30,179
Unrealized Losses Less than 12 months 220 2,215
Fair Value 12 months or more 148,640 132,953
Unrealized Losses 12 months or more 33,576 31,583
Total Fair Value 152,473 163,132
Total Unrealized Losses 33,796 33,798
Allowance for Credit Losses $ 0 $ 0
v3.23.1
DEBT SECURITIES - Significant Assumptions in Valuation of Private Label MBS (Detail) - Residential MBS [Member] - Private label [Member]
Mar. 31, 2023
Dec. 31, 2022
Discount rate [Member] | Weighted Average [Member]    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt Securities, Available-for-sale, Measurement Input 0.160 0.162
Discount rate [Member] | Minimum [Member]    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt Securities, Available-for-sale, Measurement Input 0.160 0.162
Discount rate [Member] | Maximum [Member]    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt Securities, Available-for-sale, Measurement Input 0.160 0.162
Prepayment rate [Member] | Weighted Average [Member]    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt Securities, Available-for-sale, Measurement Input 0.092 0.118
Prepayment rate [Member] | Minimum [Member]    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt Securities, Available-for-sale, Measurement Input 0.016 0.015
Prepayment rate [Member] | Maximum [Member]    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt Securities, Available-for-sale, Measurement Input 0.126 0.152
Projected Cumulative Loss Rate [Member] | Weighted Average [Member]    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt Securities, Available-for-sale, Measurement Input 0.052 0.056
Projected Cumulative Loss Rate [Member] | Minimum [Member]    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt Securities, Available-for-sale, Measurement Input 0.002 0.003
Projected Cumulative Loss Rate [Member] | Maximum [Member]    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt Securities, Available-for-sale, Measurement Input 0.149 0.156
v3.23.1
DEBT SECURITIES - ACL for Debt Securities Available-for-Sale (Detail) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items]    
Beginning Balance $ 458  
Ending Balance 449  
Residential MBS [Member]    
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items]    
Beginning Balance 83  
Ending Balance 83  
Puerto Rico government obligations [Member]    
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items]    
Beginning Balance 400  
Ending Balance 400  
Available-for-sale Securities [Member]    
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items]    
Beginning Balance 458 $ 1,105
Provision for credit losses - (benefit) expense (9) (388)
Net charge-offs   (6)
Ending Balance 449 711
Available-for-sale Securities [Member] | Residential MBS [Member] | Private label [Member]    
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items]    
Beginning Balance 83 797
Provision for credit losses - (benefit) expense 0 (388)
Net charge-offs   (6)
Ending Balance 83 403
Available-for-sale Securities [Member] | Puerto Rico government obligations [Member]    
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items]    
Beginning Balance 375 308
Provision for credit losses - (benefit) expense (9) 0
Net charge-offs   0
Ending Balance $ 366 $ 308
v3.23.1
DEBT SECURITIES - Investment Securities Held to Maturity (Detail) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Mar. 31, 2022
Dec. 31, 2021
Schedule Of Held To Maturity Securities [Line Items]        
Held To Maturity Securities Amortized $ 431,395 $ 437,537    
Held to Maturity Gross Unrecognized gains 2,161 4,068    
Held to Maturity Gross Unrecognized losses 13,804 14,490    
Held to Maturity Fair value 419,752 427,115    
Allowance for credit losses, Held-to-Maturity securities $ 7,646 $ 8,286    
Held to Maturity Weighted-average yield 5.04% 4.71%    
Held to maturity accrued interest receivable excluded from estimate of credit losses $ 3,700 $ 5,500    
Residential MBS [Member]        
Schedule Of Held To Maturity Securities [Line Items]        
Held To Maturity Securities Amortized 161,587 166,739    
Held to Maturity Gross Unrecognized gains 0 0    
Held to Maturity Gross Unrecognized losses 5,497 7,156    
Held to Maturity Fair value 156,090 159,583    
Allowance for credit losses, Held-to-Maturity securities $ 0 $ 0    
Held to Maturity Weighted-average yield 3.81% 3.78%    
Commercial MBS [Member]        
Schedule Of Held To Maturity Securities [Line Items]        
Held to Maturity Amortized Cost After 1 to 5 years $ 9,576 $ 9,621    
Held to Maturity Gross Unrecognized gains After 1 to 5 years 0 0    
Held to Maturity Gross Unrecognized losses After 1 to 5 years 348 396    
Held to Maturity Fair value After 1 to 5 years 9,228 9,225    
Allowance for credit losses After 1 to 5 years $ 0 $ 0    
Held to Maturity Weighted-average yield After 1 to 5 years 3.48% 3.48%    
Held to Maturity Amortized Cost After 10 years $ 94,432 $ 95,467    
Held to Maturity Gross Unrecognized gains After 10 years 0 0    
Held to Maturity Gross Unrecognized losses After 10 years 4,541 4,169    
Held to Maturity Fair value After 10 years 89,891 91,298    
Allowance for credit losses After 10 years $ 0 $ 0    
Held to Maturity Weighted-average yield After 10 years 3.15% 3.15%    
Held To Maturity Securities Amortized $ 104,008 $ 105,088    
Held to Maturity Gross Unrecognized gains 0 0    
Held to Maturity Gross Unrecognized losses 4,889 4,565    
Held to Maturity Fair value 99,119 100,523    
Allowance for credit losses, Held-to-Maturity securities $ 0 $ 0    
Held to Maturity Weighted-average yield 3.18% 3.18%    
MBS [Member]        
Schedule Of Held To Maturity Securities [Line Items]        
Held To Maturity Securities Amortized $ 265,595 $ 271,827    
Held to Maturity Gross Unrecognized gains 0 0    
Held to Maturity Gross Unrecognized losses 10,386 11,721    
Held to Maturity Fair value 255,209 260,106    
Allowance for credit losses, Held-to-Maturity securities $ 0 $ 0    
Held to Maturity Weighted-average yield 3.56% 3.55%    
Municipal Bonds [Member] | Puerto Rico [Member]        
Schedule Of Held To Maturity Securities [Line Items]        
Held to Maturity Amortized Due Withing One Year $ 1,204 $ 1,202    
Held to Maturity Gross Unrecognized gain Due Within One Year 0 0    
Held to Maturity Gross Unrecognized losses Due Within One Year 10 15    
Held to Maturity Fair value Due Within One Year 1,194 1,187    
Allowance for credit losses Due within one year $ 24 $ 2    
Held to Maturity Weighted-average yield Due withing One Year 5.70% 5.20%    
Held to Maturity Amortized Cost After 1 to 5 years $ 42,633 $ 42,530    
Held to Maturity Gross Unrecognized gains After 1 to 5 years 679 886    
Held to Maturity Gross Unrecognized losses After 1 to 5 years 1,001 1,076    
Held to Maturity Fair value After 1 to 5 years 42,311 42,340    
Allowance for credit losses After 1 to 5 years $ 659 $ 656    
Held to Maturity Weighted-average yield After 1 to 5 years 6.74% 6.34%    
Held to Maturity Amortized Cost After 5 to 10 years $ 55,940 $ 55,956    
Held to Maturity Gross Unrecognized gains After 5 to 10 years 1,482 3,182    
Held to Maturity Gross Unrecognized losses After 5 to 10 years 603 360    
Held to Maturity Fair value After 5 to 10 years 56,819 58,778    
Allowance for credit losses After 5 to 10 years $ 2,918 $ 3,243    
Held to Maturity Weighted-average yield After 5 to 10 years 7.10% 6.29%    
Held to Maturity Amortized Cost After 10 years $ 66,023 $ 66,022    
Held to Maturity Gross Unrecognized gains After 10 years 0 0    
Held to Maturity Gross Unrecognized losses After 10 years 1,804 1,318    
Held to Maturity Fair value After 10 years 64,219 64,704    
Allowance for credit losses After 10 years $ 4,045 $ 4,385    
Held to Maturity Weighted-average yield After 10 years 8.12% 7.10%    
Held To Maturity Securities Amortized $ 165,800 $ 165,710    
Held to Maturity Gross Unrecognized gains 2,161 4,068    
Held to Maturity Gross Unrecognized losses 3,418 2,769    
Held to Maturity Fair value 164,543 167,009    
Allowance for credit losses, Held-to-Maturity securities $ 7,646 $ 8,286 $ 12,324 $ 8,571
Held to Maturity Weighted-average yield 7.40% 6.62%    
FHLMC [Member] | Residential MBS [Member]        
Schedule Of Held To Maturity Securities [Line Items]        
Held to Maturity Amortized Cost After 5 to 10 years $ 20,129 $ 21,443    
Held to Maturity Gross Unrecognized gains After 5 to 10 years 0 0    
Held to Maturity Gross Unrecognized losses After 5 to 10 years 762 746    
Held to Maturity Fair value After 5 to 10 years 19,367 20,697    
Allowance for credit losses After 5 to 10 years $ 0 $ 0    
Held to Maturity Weighted-average yield After 5 to 10 years 3.03% 3.03%    
Held to Maturity Amortized Cost After 10 years $ 19,176 $ 19,362    
Held to Maturity Gross Unrecognized gains After 10 years 0 0    
Held to Maturity Gross Unrecognized losses After 10 years 596 888    
Held to Maturity Fair value After 10 years 18,580 18,474    
Allowance for credit losses After 10 years $ 0 $ 0    
Held to Maturity Weighted-average yield After 10 years 4.30% 4.21%    
Held To Maturity Securities Amortized $ 39,305 $ 40,805    
Held to Maturity Gross Unrecognized gains 0 0    
Held to Maturity Gross Unrecognized losses 1,358 1,634    
Held to Maturity Fair value 37,947 39,171    
Allowance for credit losses, Held-to-Maturity securities $ 0 $ 0    
Held to Maturity Weighted-average yield 3.65% 3.59%    
GNMA [Member] | Residential MBS [Member]        
Schedule Of Held To Maturity Securities [Line Items]        
Held to Maturity Amortized Cost After 10 years $ 18,502 $ 19,131    
Held to Maturity Gross Unrecognized gains After 10 years 0 0    
Held to Maturity Gross Unrecognized losses After 10 years 795 943    
Held to Maturity Fair value After 10 years 17,707 18,188    
Allowance for credit losses After 10 years $ 0 $ 0    
Held to Maturity Weighted-average yield After 10 years 3.31% 3.35%    
FNMA [Member] | Residential MBS [Member]        
Schedule Of Held To Maturity Securities [Line Items]        
Held to Maturity Amortized Cost After 10 years $ 71,258 $ 72,347    
Held to Maturity Gross Unrecognized gains After 10 years 0 0    
Held to Maturity Gross Unrecognized losses After 10 years 2,190 3,155    
Held to Maturity Fair value After 10 years 69,068 69,192    
Allowance for credit losses After 10 years $ 0 $ 0    
Held to Maturity Weighted-average yield After 10 years 4.16% 4.14%    
Collateralized Mortgage Obligations [Member] | Residential MBS [Member]        
Schedule Of Held To Maturity Securities [Line Items]        
Held to Maturity Amortized Cost After 10 years $ 32,522 $ 34,456    
Held to Maturity Gross Unrecognized gains After 10 years 0 0    
Held to Maturity Gross Unrecognized losses After 10 years 1,154 1,424    
Held to Maturity Fair value After 10 years 31,368 33,032    
Allowance for credit losses After 10 years $ 0 $ 0    
Held to Maturity Weighted-average yield After 10 years 3.49% 3.49%    
v3.23.1
DEBT SECURITIES - Investments Securities Held to Maturity (Securities in continuous unrealized loss position) (Detail) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Schedule Of Held To Maturity Securities [Line Items]    
HTM Fair Value Less than 12 months $ 255,209 $ 260,106
HTM Unrealized Losses Less than 12 months 10,386 11,721
HTM Fair Value 12 months or more 108,266 98,797
HTM Unrealized Losses 12 months or more 3,418 2,769
HTM Fair Value 363,475 358,903
HTM Unrealized Losses 13,804 14,490
Commercial MBS [Member]    
Schedule Of Held To Maturity Securities [Line Items]    
HTM Fair Value Less than 12 months 99,119 100,523
HTM Unrealized Losses Less than 12 months 4,889 4,565
HTM Fair Value 12 months or more 0 0
HTM Unrealized Losses 12 months or more 0 0
HTM Fair Value 99,119 100,523
HTM Unrealized Losses 4,889 4,565
FHLMC [Member] | Residential MBS [Member]    
Schedule Of Held To Maturity Securities [Line Items]    
HTM Fair Value Less than 12 months 37,947 39,171
HTM Unrealized Losses Less than 12 months 1,358 1,634
HTM Fair Value 12 months or more 0 0
HTM Unrealized Losses 12 months or more 0 0
HTM Fair Value 37,947 39,171
HTM Unrealized Losses 1,358 1,634
GNMA [Member] | Residential MBS [Member]    
Schedule Of Held To Maturity Securities [Line Items]    
HTM Fair Value Less than 12 months 17,707 18,188
HTM Unrealized Losses Less than 12 months 795 943
HTM Fair Value 12 months or more 0 0
HTM Unrealized Losses 12 months or more 0 0
HTM Fair Value 17,707 18,188
HTM Unrealized Losses 795 943
FNMA [Member] | Residential MBS [Member]    
Schedule Of Held To Maturity Securities [Line Items]    
HTM Fair Value Less than 12 months 69,068 69,192
HTM Unrealized Losses Less than 12 months 2,190 3,155
HTM Fair Value 12 months or more 0 0
HTM Unrealized Losses 12 months or more 0 0
HTM Fair Value 69,068 69,192
HTM Unrealized Losses 2,190 3,155
Collateralized Mortgage Obligations [Member] | Residential MBS [Member]    
Schedule Of Held To Maturity Securities [Line Items]    
HTM Fair Value Less than 12 months 31,368 33,032
HTM Unrealized Losses Less than 12 months 1,154 1,424
HTM Fair Value 12 months or more 0 0
HTM Unrealized Losses 12 months or more 0 0
HTM Fair Value 31,368 33,032
HTM Unrealized Losses 1,154 1,424
Puerto Rico [Member] | Municipal Bonds [Member]    
Schedule Of Held To Maturity Securities [Line Items]    
HTM Fair Value Less than 12 months 0 0
HTM Unrealized Losses Less than 12 months 0 0
HTM Fair Value 12 months or more 108,266 98,797
HTM Unrealized Losses 12 months or more 3,418 2,769
HTM Fair Value 108,266 98,797
HTM Unrealized Losses $ 3,418 $ 2,769
v3.23.1
DEBT SECURITIES - ACL on Debt Securities Held-To-Maturity (Detail) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]    
Beginning Balance $ 8,286  
Ending Balance 7,646  
Municipal Bonds [Member] | PUERTO RICO    
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]    
Beginning Balance 8,286 $ 8,571
Provision for credit loss expense (640) 3,753
Ending Balance $ 7,646 $ 12,324
v3.23.1
LOANS HELD FOR INVESTMENT - Loan Portfolio Held for Investment (Detail) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Mar. 31, 2022
Dec. 31, 2021
Loans held for investment $ 11,577,985 $ 11,552,825    
ACL for loans and finance leases (265,567) (260,464) $ (245,447) $ (269,030)
Loans held for investment, net 11,312,418 11,292,361    
Puerto Rico and Virgin Islands regions [Member]        
Loans held for investment 9,598,623 9,464,474    
Florida region [Member}        
Loans held for investment 1,979,362 2,088,351    
Residential Portfolio Segment [Member]        
Loans held for investment 2,811,528 2,847,290    
ACL for loans and finance leases (64,403) (62,760) (68,820) (74,837)
Residential Portfolio Segment [Member] | Puerto Rico and Virgin Islands regions [Member]        
Loans held for investment 2,381,782 2,417,900    
Residential Portfolio Segment [Member] | Florida region [Member}        
Loans held for investment 429,746 429,390    
Commercial Portfolio Segment [Member] | Commercial and Industrial loans [Member]        
Loans held for investment 2,862,189 2,886,263    
ACL for loans and finance leases (31,235) (32,906) (36,784) (34,284)
Commercial Portfolio Segment [Member] | Commercial and Industrial loans [Member] | Puerto Rico and Virgin Islands regions [Member]        
Loans held for investment 1,941,228 1,860,109    
Commercial Portfolio Segment [Member] | Commercial and Industrial loans [Member] | Florida region [Member}        
Loans held for investment 920,961 1,026,154    
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]        
Loans held for investment 2,353,659 2,358,851    
ACL for loans and finance leases (36,460) (35,064) (30,138) (52,771)
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Puerto Rico and Virgin Islands regions [Member]        
Loans held for investment 1,829,173 1,834,204    
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Florida region [Member}        
Loans held for investment 524,486 524,647    
Commercial Portfolio Segment [Member] | Construction loans [Member]        
Loans held for investment 143,664 132,953    
ACL for loans and finance leases (3,231) (2,308) (1,842) (4,048)
Commercial Portfolio Segment [Member] | Construction loans [Member] | Puerto Rico and Virgin Islands regions [Member]        
Loans held for investment 48,195 34,772    
Commercial Portfolio Segment [Member] | Construction loans [Member] | Florida region [Member}        
Loans held for investment 95,469 98,181    
Consumer Portfolio Segment [Member]        
Loans held for investment 3,406,945 3,327,468    
ACL for loans and finance leases (130,238) (127,426) $ (107,863) $ (103,090)
Consumer Portfolio Segment [Member] | Puerto Rico and Virgin Islands regions [Member]        
Loans held for investment 3,398,245 3,317,489    
Consumer Portfolio Segment [Member] | Florida region [Member}        
Loans held for investment $ 8,700 $ 9,979    
v3.23.1
LOANS HELD FOR INVESTMENT - Loan Portfolio Held for Investment (Parenthetical) (Detail) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Financing Receivable, before Allowance for Credit Loss $ 11,577,985 $ 11,552,825
Unaccreted fair value net purchase discounts 28,300 29,300
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]    
Financing Receivable, before Allowance for Credit Loss 2,862,189 2,886,263
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Commercial loans secured by real estate [Member]    
Financing Receivable, before Allowance for Credit Loss $ 837,800 $ 838,500
v3.23.1
LOANS HELD FOR INVESTMENT - Corporation's Aging of Loans Held for Investment Portfolio (Detail) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Financing Receivable, Past Due [Line Items]    
Loans held for investment $ 11,577,985 $ 11,552,825
Nonaccrual Loans with No ACL 24,574 25,026
Loans Past Due 90 days or more and Still Accruing 74,380 80,283
Financing Receivable, Nonaccrual 89,142 89,935
Current [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 11,319,958 11,277,708
30-59 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 54,822 58,718
60-89 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 39,683 46,181
Residential Portfolio Segment [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 2,811,528 2,847,290
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 2,699,959 2,729,132
Nonaccrual Loans with No ACL 2,250 2,292
Loans Past Due 90 days or more and Still Accruing 13,640 16,821
Financing Receivable, Nonaccrual 36,410 42,772
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Current [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 2,626,542 2,643,909
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 0 0
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 23,367 25,630
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 111,569 118,158
Nonaccrual Loans with No ACL 0 0
Loans Past Due 90 days or more and Still Accruing 41,723 48,456
Financing Receivable, Nonaccrual 0 0
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Current [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 67,977 67,116
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 0 0
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 1,869 2,586
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 2,862,189 2,886,263
Nonaccrual Loans with No ACL 1,858 3,300
Loans Past Due 90 days or more and Still Accruing 6,355 6,332
Financing Receivable, Nonaccrual 13,404 7,830
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Current [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 2,840,568 2,868,989
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 1,438 1,984
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 424 1,128
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 2,353,659 2,358,851
Nonaccrual Loans with No ACL 15,787 15,991
Loans Past Due 90 days or more and Still Accruing 7,929 3,771
Financing Receivable, Nonaccrual 21,598 22,319
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Current [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 2,323,116 2,330,094
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 509 300
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 507 2,367
Commercial Portfolio Segment [Member] | Construction Loans [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 143,664 132,953
Nonaccrual Loans with No ACL 972 977
Loans Past Due 90 days or more and Still Accruing 0 128
Financing Receivable, Nonaccrual 1,794 2,208
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Current [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 141,870 130,617
Commercial Portfolio Segment [Member] | Construction Loans [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 0 0
Commercial Portfolio Segment [Member] | Construction Loans [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 0 0
Consumer Portfolio Segment [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 3,406,945 3,327,468
Consumer Portfolio Segment [Member] | Auto loans [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 1,832,865 1,798,071
Nonaccrual Loans with No ACL 3,342 2,136
Loans Past Due 90 days or more and Still Accruing 0 0
Financing Receivable, Nonaccrual 11,138 10,672
Consumer Portfolio Segment [Member] | Auto loans [Member] | Current [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 1,780,593 1,740,271
Consumer Portfolio Segment [Member] | Auto loans [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 34,754 40,039
Consumer Portfolio Segment [Member] | Auto loans [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 6,380 7,089
Consumer Portfolio Segment [Member] | Finance Leases [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 755,482 718,230
Nonaccrual Loans with No ACL 344 330
Loans Past Due 90 days or more and Still Accruing 0 0
Financing Receivable, Nonaccrual 2,208 1,645
Consumer Portfolio Segment [Member] | Finance Leases [Member] | Current [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 743,656 707,646
Consumer Portfolio Segment [Member] | Finance Leases [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 8,056 7,148
Consumer Portfolio Segment [Member] | Finance Leases [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 1,562 1,791
Consumer Portfolio Segment [Member] | Personal Loans [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 360,735 353,246
Nonaccrual Loans with No ACL 0 0
Loans Past Due 90 days or more and Still Accruing 0 0
Financing Receivable, Nonaccrual 1,263 1,248
Consumer Portfolio Segment [Member] | Personal Loans [Member] | Current [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 353,214 346,366
Consumer Portfolio Segment [Member] | Personal Loans [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 4,160 3,738
Consumer Portfolio Segment [Member] | Personal Loans [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 2,098 1,894
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 310,627 311,731
Nonaccrual Loans with No ACL 0 0
Loans Past Due 90 days or more and Still Accruing 4,733 4,775
Financing Receivable, Nonaccrual 0 0
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | Current [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 299,387 301,013
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 3,989 3,705
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 2,518 2,238
Consumer Portfolio Segment [Member] | Other Loans [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 147,236 146,190
Nonaccrual Loans with No ACL 21 0
Loans Past Due 90 days or more and Still Accruing 0 0
Financing Receivable, Nonaccrual 1,327 1,241
Consumer Portfolio Segment [Member] | Other Loans [Member] | Current [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 143,035 141,687
Consumer Portfolio Segment [Member] | Other Loans [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 1,916 1,804
Consumer Portfolio Segment [Member] | Other Loans [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans held for investment $ 958 $ 1,458
v3.23.1
LOANS HELD FOR INVESTMENT - Corporation's Aging of Loans Held for Investment Portfolio (Parenthetical) (Detail) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Financing Receivable, Past Due [Line Items]    
Financing Receivable, before Allowance for Credit Loss $ 11,577,985 $ 11,552,825
Nonaccrual Loans with No ACL 24,574 25,026
Loans Past Due 90 days or more and Still Accruing 74,380 80,283
Nonaccrual 89,142 89,935
PCD loans [Member]    
Financing Receivable, Past Due [Line Items]    
Loans Past Due 90 days or more and Still Accruing 10,400 12,000
Florida region [Member}    
Financing Receivable, Past Due [Line Items]    
Financing Receivable, before Allowance for Credit Loss 1,979,362 2,088,351
Nonaccrual 15,200 8,300
30-59 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Financing Receivable, before Allowance for Credit Loss 54,822 58,718
Residential Portfolio Segment [Member]    
Financing Receivable, Past Due [Line Items]    
Financing Receivable, before Allowance for Credit Loss 2,811,528 2,847,290
Residential Portfolio Segment [Member] | Performing Financial Instruments [Member]    
Financing Receivable, Past Due [Line Items]    
Financing Receivable, before Allowance for Credit Loss 2,775,118 2,804,518
Residential Portfolio Segment [Member] | Florida region [Member}    
Financing Receivable, Past Due [Line Items]    
Financing Receivable, before Allowance for Credit Loss 429,746 429,390
Residential Portfolio Segment [Member] | Florida region [Member} | Performing Financial Instruments [Member]    
Financing Receivable, Past Due [Line Items]    
Financing Receivable, before Allowance for Credit Loss 422,329 422,089
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member]    
Financing Receivable, Past Due [Line Items]    
Financing Receivable, before Allowance for Credit Loss 2,699,959 2,729,132
Nonaccrual Loans with No ACL 2,250 2,292
Loans Past Due 90 days or more and Still Accruing 13,640 16,821
Nonaccrual 36,410 42,772
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Performing Financial Instruments [Member]    
Financing Receivable, Past Due [Line Items]    
Financing Receivable, before Allowance for Credit Loss 2,663,549 2,686,360
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | PCD loans [Member]    
Financing Receivable, Past Due [Line Items]    
Loans Past Due 90 days or more and Still Accruing 9,400 11,000
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Florida region [Member}    
Financing Receivable, Past Due [Line Items]    
Financing Receivable, before Allowance for Credit Loss 429,011 428,648
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Florida region [Member} | Performing Financial Instruments [Member]    
Financing Receivable, Past Due [Line Items]    
Financing Receivable, before Allowance for Credit Loss 421,594 421,347
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Financing Receivable, before Allowance for Credit Loss 0 0
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 30-59 Days Past Due [Member] | Less Than Two Payments In Arrears [Member]    
Financing Receivable, Past Due [Line Items]    
Financing Receivable, before Allowance for Credit Loss 60,700 65,200
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member]    
Financing Receivable, Past Due [Line Items]    
Financing Receivable, before Allowance for Credit Loss 111,569 118,158
Nonaccrual Loans with No ACL 0 0
Loans Past Due 90 days or more and Still Accruing 41,723 48,456
Nonaccrual 0 0
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Performing Financial Instruments [Member]    
Financing Receivable, Past Due [Line Items]    
Financing Receivable, before Allowance for Credit Loss 111,569 118,158
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Florida region [Member}    
Financing Receivable, Past Due [Line Items]    
Financing Receivable, before Allowance for Credit Loss 735 742
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Florida region [Member} | Performing Financial Instruments [Member]    
Financing Receivable, Past Due [Line Items]    
Financing Receivable, before Allowance for Credit Loss 735 742
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Financing Receivable, before Allowance for Credit Loss 0 0
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 30-59 Days Past Due [Member] | Less Than Two Payments In Arrears [Member]    
Financing Receivable, Past Due [Line Items]    
Financing Receivable, before Allowance for Credit Loss 5,300 6,100
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Past Due, 15 Months Delinquent [Member]    
Financing Receivable, Past Due [Line Items]    
Loans Past Due 90 days or more and Still Accruing 25,900 28,200
Residential Portfolio Segment [Member] | GNMA [Member] | Repurchase Option Program [Member]    
Financing Receivable, Past Due [Line Items]    
Financing Receivable, before Allowance for Credit Loss 7,100 10,400
Loans Past Due 90 days or more and Still Accruing 7,100 10,300
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]    
Financing Receivable, Past Due [Line Items]    
Financing Receivable, before Allowance for Credit Loss 2,862,189 2,886,263
Nonaccrual Loans with No ACL 1,858 3,300
Loans Past Due 90 days or more and Still Accruing 6,355 6,332
Nonaccrual 13,404 7,830
Commercial Portfolio Segment [Member] | Florida region [Member} | Commercial And Industrial Sector [Member]    
Financing Receivable, Past Due [Line Items]    
Financing Receivable, before Allowance for Credit Loss 920,961 1,026,154
Nonaccrual Loans with No ACL 300 300
Commercial Portfolio Segment [Member] | 30-59 Days Past Due [Member] | Commercial And Industrial Sector [Member]    
Financing Receivable, Past Due [Line Items]    
Financing Receivable, before Allowance for Credit Loss 1,438 1,984
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]    
Financing Receivable, Past Due [Line Items]    
Financing Receivable, before Allowance for Credit Loss 2,353,659 2,358,851
Nonaccrual Loans with No ACL 15,787 15,991
Loans Past Due 90 days or more and Still Accruing 7,929 3,771
Nonaccrual 21,598 22,319
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | PCD loans [Member]    
Financing Receivable, Past Due [Line Items]    
Loans Past Due 90 days or more and Still Accruing 1,000 1,000
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Florida region [Member}    
Financing Receivable, Past Due [Line Items]    
Financing Receivable, before Allowance for Credit Loss 524,486 524,647
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Financing Receivable, before Allowance for Credit Loss 509 300
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | 30-59 Days Past Due [Member] | Less Than Two Payments In Arrears [Member]    
Financing Receivable, Past Due [Line Items]    
Financing Receivable, before Allowance for Credit Loss $ 1,100 $ 1,600
v3.23.1
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
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Financing Receivable, Recorded Investment [Line Items]      
Loans held for investment $ 11,577,985   $ 11,552,825
Charge-offs 17,917 $ 12,715  
Puerto Rico and Virgin Islands regions [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Loans held for investment 9,598,623   9,464,474
Florida region [Member}      
Financing Receivable, Recorded Investment [Line Items]      
Loans held for investment 1,979,362   2,088,351
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 107,381    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 580,603    
Financing Receivable, Originated Two Years before Latest Fiscal Year 343,579    
Financing Receivable, Originated Three Years before Latest Fiscal Year 258,153    
Financing Receivable, Originated Four Years before Latest Fiscal Year 512,296    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 368,602    
Financing Receivable, Revolving 691,575    
Loans held for investment 2,862,189   2,886,263
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff 63    
Financing Receivable, Revolving, Writeoff 55    
Charge-offs 118 290  
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 70,739    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 303,735    
Financing Receivable, Originated Two Years before Latest Fiscal Year 189,390    
Financing Receivable, Originated Three Years before Latest Fiscal Year 181,936    
Financing Receivable, Originated Four Years before Latest Fiscal Year 322,684    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 274,285    
Financing Receivable, Revolving 598,459    
Loans held for investment 1,941,228   1,860,109
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff 63    
Financing Receivable, Revolving, Writeoff 55    
Charge-offs 118    
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 36,642    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 276,868    
Financing Receivable, Originated Two Years before Latest Fiscal Year 154,189    
Financing Receivable, Originated Three Years before Latest Fiscal Year 76,217    
Financing Receivable, Originated Four Years before Latest Fiscal Year 189,612    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 94,317    
Financing Receivable, Revolving 93,116    
Loans held for investment 920,961   1,026,154
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff 0    
Financing Receivable, Revolving, Writeoff 0    
Charge-offs 0    
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Pass [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 107,381    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 580,471    
Financing Receivable, Originated Two Years before Latest Fiscal Year 322,667    
Financing Receivable, Originated Three Years before Latest Fiscal Year 257,237    
Financing Receivable, Originated Four Years before Latest Fiscal Year 491,668    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 326,933    
Financing Receivable, Revolving 658,574    
Loans held for investment 2,744,931   2,768,723
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 70,739    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 303,603    
Financing Receivable, Originated Two Years before Latest Fiscal Year 188,155    
Financing Receivable, Originated Three Years before Latest Fiscal Year 181,284    
Financing Receivable, Originated Four Years before Latest Fiscal Year 308,225    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 254,283    
Financing Receivable, Revolving 565,758    
Loans held for investment 1,872,047   1,789,572
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 36,642    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 276,868    
Financing Receivable, Originated Two Years before Latest Fiscal Year 134,512    
Financing Receivable, Originated Three Years before Latest Fiscal Year 75,953    
Financing Receivable, Originated Four Years before Latest Fiscal Year 183,443    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 72,650    
Financing Receivable, Revolving 92,816    
Loans held for investment 872,884   979,151
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 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 132    
Financing Receivable, Originated Two Years before Latest Fiscal Year 20,516    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 7,003    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 24,610    
Financing Receivable, Revolving 32,322    
Loans held for investment 84,583   61,129
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 132    
Financing Receivable, Originated Two Years before Latest Fiscal Year 839    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 1,029    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 12,885    
Financing Receivable, Revolving 32,322    
Loans held for investment 47,207   43,224
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Special Mention [Member] | Florida region [Member}      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 19,677    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 5,974    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 11,725    
Financing Receivable, Revolving 0    
Loans held for investment 37,376   17,905
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Substandard [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 396    
Financing Receivable, Originated Three Years before Latest Fiscal Year 916    
Financing Receivable, Originated Four Years before Latest Fiscal Year 13,625    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 9,971    
Financing Receivable, Revolving 679    
Loans held for investment 25,587   56,411
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 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 396    
Financing Receivable, Originated Three Years before Latest Fiscal Year 652    
Financing Receivable, Originated Four Years before Latest Fiscal Year 13,430    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 7,117    
Financing Receivable, Revolving 379    
Loans held for investment 21,974   27,313
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Substandard [Member] | Florida region [Member}      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 264    
Financing Receivable, Originated Four Years before Latest Fiscal Year 195    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 2,854    
Financing Receivable, Revolving 300    
Loans held for investment 3,613   29,098
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 7,088    
Financing Receivable, Revolving 0    
Loans held for investment 7,088   0
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Doubtful [Member] | Puerto Rico and Virgin Islands regions [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 0    
Financing Receivable, Revolving 0    
Loans held for investment 0   0
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Doubtful [Member] | Florida region [Member}      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 7,088    
Financing Receivable, Revolving 0    
Loans held for investment 7,088   0
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Loss [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 0    
Financing Receivable, Revolving 0    
Loans held for investment 0   0
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Loss [Member] | Puerto Rico and Virgin Islands regions [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 0    
Financing Receivable, Revolving 0    
Loans held for investment 0   0
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Loss [Member] | Florida region [Member}      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 0    
Financing Receivable, Revolving 0    
Loans held for investment 0   0
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 70,998    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 569,996    
Financing Receivable, Originated Two Years before Latest Fiscal Year 209,683    
Financing Receivable, Originated Three Years before Latest Fiscal Year 410,826    
Financing Receivable, Originated Four Years before Latest Fiscal Year 369,061    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 703,066    
Financing Receivable, Revolving 20,029    
Loans held for investment 2,353,659   2,358,851
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff 18    
Financing Receivable, Revolving, Writeoff 0    
Charge-offs 18 37  
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 67,469    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 392,604    
Financing Receivable, Originated Two Years before Latest Fiscal Year 139,536    
Financing Receivable, Originated Three Years before Latest Fiscal Year 361,687    
Financing Receivable, Originated Four Years before Latest Fiscal Year 304,510    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 562,889    
Financing Receivable, Revolving 478    
Loans held for investment 1,829,173   1,834,204
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff 18    
Financing Receivable, Revolving, Writeoff 0    
Charge-offs 18    
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Florida region [Member}      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 3,529    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 177,392    
Financing Receivable, Originated Two Years before Latest Fiscal Year 70,147    
Financing Receivable, Originated Three Years before Latest Fiscal Year 49,139    
Financing Receivable, Originated Four Years before Latest Fiscal Year 64,551    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 140,177    
Financing Receivable, Revolving 19,551    
Loans held for investment 524,486   524,647
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff 0    
Financing Receivable, Revolving, Writeoff 0    
Charge-offs 0    
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Pass [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 70,998    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 568,687    
Financing Receivable, Originated Two Years before Latest Fiscal Year 209,683    
Financing Receivable, Originated Three Years before Latest Fiscal Year 366,165    
Financing Receivable, Originated Four Years before Latest Fiscal Year 352,958    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 540,971    
Financing Receivable, Revolving 20,029    
Loans held for investment 2,129,491   2,158,912
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 67,469    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 391,295    
Financing Receivable, Originated Two Years before Latest Fiscal Year 139,536    
Financing Receivable, Originated Three Years before Latest Fiscal Year 325,141    
Financing Receivable, Originated Four Years before Latest Fiscal Year 301,638    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 400,794    
Financing Receivable, Revolving 478    
Loans held for investment 1,626,351   1,655,728
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 3,529    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 177,392    
Financing Receivable, Originated Two Years before Latest Fiscal Year 70,147    
Financing Receivable, Originated Three Years before Latest Fiscal Year 41,024    
Financing Receivable, Originated Four Years before Latest Fiscal Year 51,320    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 140,177    
Financing Receivable, Revolving 19,551    
Loans held for investment 503,140   503,184
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Special Mention [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 1,177    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 43,493    
Financing Receivable, Originated Four Years before Latest Fiscal Year 13,306    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 131,350    
Financing Receivable, Revolving 0    
Loans held for investment 189,326   165,710
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 1,177    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 36,546    
Financing Receivable, Originated Four Years before Latest Fiscal Year 75    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 131,350    
Financing Receivable, Revolving 0    
Loans held for investment 169,148   145,415
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Special Mention [Member] | Florida region [Member}      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 6,947    
Financing Receivable, Originated Four Years before Latest Fiscal Year 13,231    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 0    
Financing Receivable, Revolving 0    
Loans held for investment 20,178   20,295
Commercial Portfolio Segment [Member] | Mortgage Receivable [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 132    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 1,168    
Financing Receivable, Originated Four Years before Latest Fiscal Year 2,797    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 30,745    
Financing Receivable, Revolving 0    
Loans held for investment 34,842   34,229
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 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 132    
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 2,797    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 30,745    
Financing Receivable, Revolving 0    
Loans held for investment 33,674   33,061
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 1,168    
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 1,168   1,168
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 6,586    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 66,528    
Financing Receivable, Originated Two Years before Latest Fiscal Year 61,709    
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 6,365    
Financing Receivable, Revolving 2,476    
Loans held for investment 143,664   132,953
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff 0    
Financing Receivable, Revolving, Writeoff 0    
Charge-offs 0 $ 44  
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 6,479    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 16,509    
Financing Receivable, Originated Two Years before Latest Fiscal Year 18,842    
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 6,365    
Financing Receivable, Revolving 0    
Loans held for investment 48,195   34,772
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff 0    
Financing Receivable, Revolving, Writeoff 0    
Charge-offs 0    
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Florida region [Member}      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 107    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 50,019    
Financing Receivable, Originated Two Years before Latest Fiscal Year 42,867    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 0    
Financing Receivable, Revolving 2,476    
Loans held for investment 95,469   98,181
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff 0    
Financing Receivable, Revolving, Writeoff 0    
Charge-offs 0    
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Pass [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 6,586    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 66,528    
Financing Receivable, Originated Two Years before Latest Fiscal Year 61,709    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 3,885    
Financing Receivable, Revolving 2,476    
Loans held for investment 141,184   130,060
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 6,479    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 16,509    
Financing Receivable, Originated Two Years before Latest Fiscal Year 18,842    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 3,885    
Financing Receivable, Revolving 0    
Loans held for investment 45,715   31,879
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 107    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 50,019    
Financing Receivable, Originated Two Years before Latest Fiscal Year 42,867    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 0    
Financing Receivable, Revolving 2,476    
Loans held for investment 95,469   98,181
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Special Mention [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 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] | Special Mention [Member] | Puerto Rico and Virgin Islands regions [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 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] | Special Mention [Member] | Florida region [Member}      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 0    
Financing Receivable, Revolving 0    
Loans held for investment 0   0
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Substandard [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 2,480    
Financing Receivable, Revolving 0    
Loans held for investment 2,480   2,893
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Substandard [Member] | Puerto Rico and Virgin Islands regions [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 2,480    
Financing Receivable, Revolving 0    
Loans held for investment 2,480   2,893
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
v3.23.1
LOANS HELD FOR INVESTMENT - Corporation's Residential Mortgage Loans By Origination Year Based on Accrual Status (Detail) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Financing Receivable, Recorded Investment [Line Items]      
Loans held for investment $ 11,577,985   $ 11,552,825
Financing Receivable, Allowance for Credit Loss, Writeoff 17,917 $ 12,715  
Puerto Rico and Virgin Islands regions [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Loans held for investment 9,598,623   9,464,474
Florida region [Member}      
Financing Receivable, Recorded Investment [Line Items]      
Loans held for investment 1,979,362   2,088,351
Residential Portfolio Segment [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 38,091    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 253,914    
Financing Receivable, Originated Two Years before Latest Fiscal Year 124,166    
Financing Receivable, Originated Three Years before Latest Fiscal Year 63,419    
Financing Receivable, Originated Four Years before Latest Fiscal Year 78,930    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 2,253,008    
Financing Receivable, Revolving 0    
Loans held for investment 2,811,528   2,847,290
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff 3    
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff 980    
Financing Receivable, Revolving, Writeoff 0    
Financing Receivable, Allowance for Credit Loss, Writeoff 983 $ 2,528  
Residential Portfolio Segment [Member] | Performing Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 38,091    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 253,914    
Financing Receivable, Originated Two Years before Latest Fiscal Year 124,131    
Financing Receivable, Originated Three Years before Latest Fiscal Year 63,419    
Financing Receivable, Originated Four Years before Latest Fiscal Year 78,665    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 2,216,898    
Financing Receivable, Revolving 0    
Loans held for investment 2,775,118   2,804,518
Residential Portfolio Segment [Member] | Nonperforming Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 35    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 265    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 36,110    
Financing Receivable, Revolving 0    
Loans held for investment 36,410   42,772
Residential Portfolio Segment [Member] | Puerto Rico and Virgin Islands regions [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 24,859    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 172,295    
Financing Receivable, Originated Two Years before Latest Fiscal Year 75,175    
Financing Receivable, Originated Three Years before Latest Fiscal Year 32,262    
Financing Receivable, Originated Four Years before Latest Fiscal Year 49,262    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 2,027,929    
Financing Receivable, Revolving 0    
Loans held for investment 2,381,782   2,417,900
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff 3    
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff 980    
Financing Receivable, Revolving, Writeoff 0    
Financing Receivable, Allowance for Credit Loss, Writeoff 983    
Residential Portfolio Segment [Member] | Puerto Rico and Virgin Islands regions [Member] | Performing Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 24,859    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 172,295    
Financing Receivable, Originated Two Years before Latest Fiscal Year 75,140    
Financing Receivable, Originated Three Years before Latest Fiscal Year 32,262    
Financing Receivable, Originated Four Years before Latest Fiscal Year 49,262    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 1,998,971    
Financing Receivable, Revolving 0    
Loans held for investment 2,352,789   2,382,429
Residential Portfolio Segment [Member] | Puerto Rico and Virgin Islands regions [Member] | Nonperforming Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 35    
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 28,958    
Financing Receivable, Revolving 0    
Loans held for investment 28,993   35,471
Residential Portfolio Segment [Member] | Florida region [Member}      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 13,232    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 81,619    
Financing Receivable, Originated Two Years before Latest Fiscal Year 48,991    
Financing Receivable, Originated Three Years before Latest Fiscal Year 31,157    
Financing Receivable, Originated Four Years before Latest Fiscal Year 29,668    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 225,079    
Financing Receivable, Revolving 0    
Loans held for investment 429,746   429,390
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff 0    
Financing Receivable, Revolving, Writeoff 0    
Financing Receivable, Allowance for Credit Loss, Writeoff 0    
Residential Portfolio Segment [Member] | Florida region [Member} | Performing Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 13,232    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 81,619    
Financing Receivable, Originated Two Years before Latest Fiscal Year 48,991    
Financing Receivable, Originated Three Years before Latest Fiscal Year 31,157    
Financing Receivable, Originated Four Years before Latest Fiscal Year 29,403    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 217,927    
Financing Receivable, Revolving 0    
Loans held for investment 422,329   422,089
Residential Portfolio Segment [Member] | Florida region [Member} | Nonperforming Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 265    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 7,152    
Financing Receivable, Revolving 0    
Loans held for investment 7,417   7,301
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 696    
Financing Receivable, Originated Two Years before Latest Fiscal Year 448    
Financing Receivable, Originated Three Years before Latest Fiscal Year 765    
Financing Receivable, Originated Four Years before Latest Fiscal Year 1,557    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 108,103    
Financing Receivable, Revolving 0    
Loans held for investment 111,569   118,158
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Performing Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 696    
Financing Receivable, Originated Two Years before Latest Fiscal Year 448    
Financing Receivable, Originated Three Years before Latest Fiscal Year 765    
Financing Receivable, Originated Four Years before Latest Fiscal Year 1,557    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 108,103    
Financing Receivable, Revolving 0    
Loans held for investment 111,569   118,158
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Nonperforming Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 0    
Financing Receivable, Revolving 0    
Loans held for investment 0   0
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Puerto Rico and Virgin Islands regions [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 696    
Financing Receivable, Originated Two Years before Latest Fiscal Year 448    
Financing Receivable, Originated Three Years before Latest Fiscal Year 765    
Financing Receivable, Originated Four Years before Latest Fiscal Year 1,557    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 107,368    
Financing Receivable, Revolving 0    
Loans held for investment 110,834   117,416
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Puerto Rico and Virgin Islands regions [Member] | Performing Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 696    
Financing Receivable, Originated Two Years before Latest Fiscal Year 448    
Financing Receivable, Originated Three Years before Latest Fiscal Year 765    
Financing Receivable, Originated Four Years before Latest Fiscal Year 1,557    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 107,368    
Financing Receivable, Revolving 0    
Loans held for investment 110,834   117,416
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Puerto Rico and Virgin Islands regions [Member] | Nonperforming Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 0    
Financing Receivable, Revolving 0    
Loans held for investment 0   0
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Florida region [Member}      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 735    
Financing Receivable, Revolving 0    
Loans held for investment 735   742
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Florida region [Member} | Performing Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 735    
Financing Receivable, Revolving 0    
Loans held for investment 735   742
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Florida region [Member} | Nonperforming Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 0    
Financing Receivable, Revolving 0    
Loans held for investment 0   0
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 38,091    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 253,218    
Financing Receivable, Originated Two Years before Latest Fiscal Year 123,718    
Financing Receivable, Originated Three Years before Latest Fiscal Year 62,654    
Financing Receivable, Originated Four Years before Latest Fiscal Year 77,373    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 2,144,905    
Financing Receivable, Revolving 0    
Loans held for investment 2,699,959   2,729,132
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Performing Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 38,091    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 253,218    
Financing Receivable, Originated Two Years before Latest Fiscal Year 123,683    
Financing Receivable, Originated Three Years before Latest Fiscal Year 62,654    
Financing Receivable, Originated Four Years before Latest Fiscal Year 77,108    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 2,108,795    
Financing Receivable, Revolving 0    
Loans held for investment 2,663,549   2,686,360
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Nonperforming Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 35    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 265    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 36,110    
Financing Receivable, Revolving 0    
Loans held for investment 36,410   42,772
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Puerto Rico and Virgin Islands regions [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 24,859    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 171,599    
Financing Receivable, Originated Two Years before Latest Fiscal Year 74,727    
Financing Receivable, Originated Three Years before Latest Fiscal Year 31,497    
Financing Receivable, Originated Four Years before Latest Fiscal Year 47,705    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 1,920,561    
Financing Receivable, Revolving 0    
Loans held for investment 2,270,948   2,300,484
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Puerto Rico and Virgin Islands regions [Member] | Performing Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 24,859    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 171,599    
Financing Receivable, Originated Two Years before Latest Fiscal Year 74,692    
Financing Receivable, Originated Three Years before Latest Fiscal Year 31,497    
Financing Receivable, Originated Four Years before Latest Fiscal Year 47,705    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 1,891,603    
Financing Receivable, Revolving 0    
Loans held for investment 2,241,955   2,265,013
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Puerto Rico and Virgin Islands regions [Member] | Nonperforming Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 35    
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 28,958    
Financing Receivable, Revolving 0    
Loans held for investment 28,993   35,471
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Florida region [Member}      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 13,232    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 81,619    
Financing Receivable, Originated Two Years before Latest Fiscal Year 48,991    
Financing Receivable, Originated Three Years before Latest Fiscal Year 31,157    
Financing Receivable, Originated Four Years before Latest Fiscal Year 29,668    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 224,344    
Financing Receivable, Revolving 0    
Loans held for investment 429,011   428,648
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Florida region [Member} | Performing Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 13,232    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 81,619    
Financing Receivable, Originated Two Years before Latest Fiscal Year 48,991    
Financing Receivable, Originated Three Years before Latest Fiscal Year 31,157    
Financing Receivable, Originated Four Years before Latest Fiscal Year 29,403    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 217,192    
Financing Receivable, Revolving 0    
Loans held for investment 421,594   421,347
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Florida region [Member} | Nonperforming Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 265    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 7,152    
Financing Receivable, Revolving 0    
Loans held for investment $ 7,417   $ 7,301
v3.23.1
LOANS HELD FOR INVESTMENT - Corporation's Consumer Loans by Origination Year Based on Accrual Status (Detail) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Financing Receivable, Recorded Investment [Line Items]      
Loans held for investment $ 11,577,985   $ 11,552,825
Financing Receivable, Allowance for Credit Loss, Writeoff 17,917 $ 12,715  
Puerto Rico and Virgin Islands regions [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Loans held for investment 9,598,623   9,464,474
Florida region [Member}      
Financing Receivable, Recorded Investment [Line Items]      
Loans held for investment 1,979,362   2,088,351
Consumer Portfolio Segment [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 313,129    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 1,154,486    
Financing Receivable, Originated Two Years before Latest Fiscal Year 731,445    
Financing Receivable, Originated Three Years before Latest Fiscal Year 352,909    
Financing Receivable, Originated Four Years before Latest Fiscal Year 321,044    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 212,180    
Financing Receivable, Revolving 321,752    
Loans held for investment 3,406,945   3,327,468
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff 33    
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff 5,413    
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff 3,082    
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff 1,017    
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff 1,831    
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff 1,274    
Financing Receivable, Revolving, Writeoff 4,148    
Financing Receivable, Allowance for Credit Loss, Writeoff 16,798 $ 9,816  
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 313,129    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 1,150,486    
Financing Receivable, Originated Two Years before Latest Fiscal Year 728,621    
Financing Receivable, Originated Three Years before Latest Fiscal Year 350,953    
Financing Receivable, Originated Four Years before Latest Fiscal Year 317,627    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 208,643    
Financing Receivable, Revolving 321,550    
Loans held for investment 3,391,009   3,312,662
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 4,000    
Financing Receivable, Originated Two Years before Latest Fiscal Year 2,824    
Financing Receivable, Originated Three Years before Latest Fiscal Year 1,956    
Financing Receivable, Originated Four Years before Latest Fiscal Year 3,417    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 3,537    
Financing Receivable, Revolving 202    
Loans held for investment 15,936   14,806
Consumer Portfolio Segment [Member] | Puerto Rico and Virgin Islands regions [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 312,855    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 1,154,429    
Financing Receivable, Originated Two Years before Latest Fiscal Year 731,145    
Financing Receivable, Originated Three Years before Latest Fiscal Year 352,442    
Financing Receivable, Originated Four Years before Latest Fiscal Year 320,785    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 207,164    
Financing Receivable, Revolving 319,425    
Loans held for investment 3,398,245   3,317,489
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff 33    
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff 5,413    
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff 3,082    
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff 1,017    
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff 1,823    
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff 1,127    
Financing Receivable, Revolving, Writeoff 4,148    
Financing Receivable, Allowance for Credit Loss, Writeoff 16,643    
Consumer Portfolio Segment [Member] | Puerto Rico and Virgin Islands regions [Member] | Performing Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 312,855    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 1,150,429    
Financing Receivable, Originated Two Years before Latest Fiscal Year 728,321    
Financing Receivable, Originated Three Years before Latest Fiscal Year 350,486    
Financing Receivable, Originated Four Years before Latest Fiscal Year 317,368    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 203,670    
Financing Receivable, Revolving 319,327    
Loans held for investment 3,382,456   3,302,878
Consumer Portfolio Segment [Member] | Puerto Rico and Virgin Islands regions [Member] | Nonperforming Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 4,000    
Financing Receivable, Originated Two Years before Latest Fiscal Year 2,824    
Financing Receivable, Originated Three Years before Latest Fiscal Year 1,956    
Financing Receivable, Originated Four Years before Latest Fiscal Year 3,417    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 3,494    
Financing Receivable, Revolving 98    
Loans held for investment 15,789   14,611
Consumer Portfolio Segment [Member] | Florida region [Member}      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 274    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 57    
Financing Receivable, Originated Two Years before Latest Fiscal Year 300    
Financing Receivable, Originated Three Years before Latest Fiscal Year 467    
Financing Receivable, Originated Four Years before Latest Fiscal Year 259    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 5,016    
Financing Receivable, Revolving 2,327    
Loans held for investment 8,700   9,979
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff 8    
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff 147    
Financing Receivable, Revolving, Writeoff 0    
Financing Receivable, Allowance for Credit Loss, Writeoff 155    
Consumer Portfolio Segment [Member] | Florida region [Member} | Performing Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 274    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 57    
Financing Receivable, Originated Two Years before Latest Fiscal Year 300    
Financing Receivable, Originated Three Years before Latest Fiscal Year 467    
Financing Receivable, Originated Four Years before Latest Fiscal Year 259    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 4,973    
Financing Receivable, Revolving 2,223    
Loans held for investment 8,553   9,784
Consumer Portfolio Segment [Member] | Florida region [Member} | Nonperforming Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 43    
Financing Receivable, Revolving 104    
Loans held for investment 147   195
Consumer Portfolio Segment [Member] | Auto loans [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 165,925    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 640,821    
Financing Receivable, Originated Two Years before Latest Fiscal Year 480,616    
Financing Receivable, Originated Three Years before Latest Fiscal Year 235,705    
Financing Receivable, Originated Four Years before Latest Fiscal Year 189,298    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 120,500    
Financing Receivable, Revolving 0    
Loans held for investment 1,832,865   1,798,071
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff 19    
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff 1,827    
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff 1,210    
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff 467    
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff 640    
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff 512    
Financing Receivable, Revolving, Writeoff 0    
Financing Receivable, Allowance for Credit Loss, Writeoff 4,675    
Consumer Portfolio Segment [Member] | Auto loans [Member] | Performing Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 165,925    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 638,402    
Financing Receivable, Originated Two Years before Latest Fiscal Year 478,373    
Financing Receivable, Originated Three Years before Latest Fiscal Year 234,358    
Financing Receivable, Originated Four Years before Latest Fiscal Year 186,590    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 118,079    
Financing Receivable, Revolving 0    
Loans held for investment 1,821,727   1,787,399
Consumer Portfolio Segment [Member] | Auto loans [Member] | Nonperforming Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 2,419    
Financing Receivable, Originated Two Years before Latest Fiscal Year 2,243    
Financing Receivable, Originated Three Years before Latest Fiscal Year 1,347    
Financing Receivable, Originated Four Years before Latest Fiscal Year 2,708    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 2,421    
Financing Receivable, Revolving 0    
Loans held for investment 11,138   10,672
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 165,925    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 640,821    
Financing Receivable, Originated Two Years before Latest Fiscal Year 480,616    
Financing Receivable, Originated Three Years before Latest Fiscal Year 235,705    
Financing Receivable, Originated Four Years before Latest Fiscal Year 189,039    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 117,960    
Financing Receivable, Revolving 0    
Loans held for investment 1,830,066   1,794,378
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff 19    
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff 1,827    
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff 1,210    
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff 467    
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff 632    
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff 365    
Financing Receivable, Revolving, Writeoff 0    
Financing Receivable, Allowance for Credit Loss, Writeoff 4,520    
Consumer Portfolio Segment [Member] | Auto loans [Member] | Puerto Rico and Virgin Islands regions [Member] | Performing Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 165,925    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 638,402    
Financing Receivable, Originated Two Years before Latest Fiscal Year 478,373    
Financing Receivable, Originated Three Years before Latest Fiscal Year 234,358    
Financing Receivable, Originated Four Years before Latest Fiscal Year 186,331    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 115,561    
Financing Receivable, Revolving 0    
Loans held for investment 1,818,950   1,783,782
Consumer Portfolio Segment [Member] | Auto loans [Member] | Puerto Rico and Virgin Islands regions [Member] | Nonperforming Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 2,419    
Financing Receivable, Originated Two Years before Latest Fiscal Year 2,243    
Financing Receivable, Originated Three Years before Latest Fiscal Year 1,347    
Financing Receivable, Originated Four Years before Latest Fiscal Year 2,708    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 2,399    
Financing Receivable, Revolving 0    
Loans held for investment 11,116   10,596
Consumer Portfolio Segment [Member] | Auto loans [Member] | Florida region [Member}      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 259    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 2,540    
Financing Receivable, Revolving 0    
Loans held for investment 2,799   3,693
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff 8    
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff 147    
Financing Receivable, Revolving, Writeoff 0    
Financing Receivable, Allowance for Credit Loss, Writeoff 155    
Consumer Portfolio Segment [Member] | Auto loans [Member] | Florida region [Member} | Performing Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 259    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 2,518    
Financing Receivable, Revolving 0    
Loans held for investment 2,777   3,617
Consumer Portfolio Segment [Member] | Auto loans [Member] | Florida region [Member} | Nonperforming Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 22    
Financing Receivable, Revolving 0    
Loans held for investment 22   76
Consumer Portfolio Segment [Member] | Finance Leases [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 78,870    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 283,037    
Financing Receivable, Originated Two Years before Latest Fiscal Year 183,283    
Financing Receivable, Originated Three Years before Latest Fiscal Year 82,639    
Financing Receivable, Originated Four Years before Latest Fiscal Year 74,797    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 52,856    
Financing Receivable, Revolving 0    
Loans held for investment 755,482   718,230
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff 227    
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff 270    
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff 97    
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff 185    
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff 200    
Financing Receivable, Revolving, Writeoff 0    
Financing Receivable, Allowance for Credit Loss, Writeoff 979    
Consumer Portfolio Segment [Member] | Finance Leases [Member] | Performing Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 78,870    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 282,486    
Financing Receivable, Originated Two Years before Latest Fiscal Year 183,061    
Financing Receivable, Originated Three Years before Latest Fiscal Year 82,206    
Financing Receivable, Originated Four Years before Latest Fiscal Year 74,421    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 52,230    
Financing Receivable, Revolving 0    
Loans held for investment 753,274   716,585
Consumer Portfolio Segment [Member] | Finance Leases [Member] | Nonperforming Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 551    
Financing Receivable, Originated Two Years before Latest Fiscal Year 222    
Financing Receivable, Originated Three Years before Latest Fiscal Year 433    
Financing Receivable, Originated Four Years before Latest Fiscal Year 376    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 626    
Financing Receivable, Revolving 0    
Loans held for investment 2,208   1,645
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 78,870    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 283,037    
Financing Receivable, Originated Two Years before Latest Fiscal Year 183,283    
Financing Receivable, Originated Three Years before Latest Fiscal Year 82,639    
Financing Receivable, Originated Four Years before Latest Fiscal Year 74,797    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 52,856    
Financing Receivable, Revolving 0    
Loans held for investment 755,482   718,230
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff 227    
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff 270    
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff 97    
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff 185    
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff 200    
Financing Receivable, Revolving, Writeoff 0    
Financing Receivable, Allowance for Credit Loss, Writeoff 979    
Consumer Portfolio Segment [Member] | Finance Leases [Member] | Puerto Rico and Virgin Islands regions [Member] | Performing Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 78,870    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 282,486    
Financing Receivable, Originated Two Years before Latest Fiscal Year 183,061    
Financing Receivable, Originated Three Years before Latest Fiscal Year 82,206    
Financing Receivable, Originated Four Years before Latest Fiscal Year 74,421    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 52,230    
Financing Receivable, Revolving 0    
Loans held for investment 753,274   716,585
Consumer Portfolio Segment [Member] | Finance Leases [Member] | Puerto Rico and Virgin Islands regions [Member] | Nonperforming Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 551    
Financing Receivable, Originated Two Years before Latest Fiscal Year 222    
Financing Receivable, Originated Three Years before Latest Fiscal Year 433    
Financing Receivable, Originated Four Years before Latest Fiscal Year 376    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 626    
Financing Receivable, Revolving 0    
Loans held for investment 2,208   1,645
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
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff 0    
Financing Receivable, Revolving, Writeoff 0    
Financing Receivable, Allowance for Credit Loss, Writeoff 0    
Consumer Portfolio Segment [Member] | Finance Leases [Member] | Florida region [Member} | Performing Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 0    
Financing Receivable, Revolving 0    
Loans held for investment 0   0
Consumer Portfolio Segment [Member] | Finance Leases [Member] | Florida region [Member} | Nonperforming Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 0    
Financing Receivable, Revolving 0    
Loans held for investment 0   0
Consumer Portfolio Segment [Member] | Personal Loans [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 44,921    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 163,809    
Financing Receivable, Originated Two Years before Latest Fiscal Year 49,534    
Financing Receivable, Originated Three Years before Latest Fiscal Year 25,827    
Financing Receivable, Originated Four Years before Latest Fiscal Year 46,994    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 29,650    
Financing Receivable, Revolving 0    
Loans held for investment 360,735   353,246
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff 1,517    
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff 840    
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff 279    
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff 680    
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff 384    
Financing Receivable, Revolving, Writeoff 0    
Financing Receivable, Allowance for Credit Loss, Writeoff 3,700    
Consumer Portfolio Segment [Member] | Personal Loans [Member] | Performing Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 44,921    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 163,319    
Financing Receivable, Originated Two Years before Latest Fiscal Year 49,346    
Financing Receivable, Originated Three Years before Latest Fiscal Year 25,710    
Financing Receivable, Originated Four Years before Latest Fiscal Year 46,765    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 29,411    
Financing Receivable, Revolving 0    
Loans held for investment 359,472   351,998
Consumer Portfolio Segment [Member] | Personal Loans [Member] | Nonperforming Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 490    
Financing Receivable, Originated Two Years before Latest Fiscal Year 188    
Financing Receivable, Originated Three Years before Latest Fiscal Year 117    
Financing Receivable, Originated Four Years before Latest Fiscal Year 229    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 239    
Financing Receivable, Revolving 0    
Loans held for investment 1,263   1,248
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 44,647    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 163,801    
Financing Receivable, Originated Two Years before Latest Fiscal Year 49,463    
Financing Receivable, Originated Three Years before Latest Fiscal Year 25,820    
Financing Receivable, Originated Four Years before Latest Fiscal Year 46,994    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 29,650    
Financing Receivable, Revolving 0    
Loans held for investment 360,375   352,912
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff 1,517    
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff 840    
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff 279    
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff 680    
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff 384    
Financing Receivable, Revolving, Writeoff 0    
Financing Receivable, Allowance for Credit Loss, Writeoff 3,700    
Consumer Portfolio Segment [Member] | Personal Loans [Member] | Puerto Rico and Virgin Islands regions [Member] | Performing Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 44,647    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 163,311    
Financing Receivable, Originated Two Years before Latest Fiscal Year 49,275    
Financing Receivable, Originated Three Years before Latest Fiscal Year 25,703    
Financing Receivable, Originated Four Years before Latest Fiscal Year 46,765    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 29,411    
Financing Receivable, Revolving 0    
Loans held for investment 359,112   351,664
Consumer Portfolio Segment [Member] | Personal Loans [Member] | Puerto Rico and Virgin Islands regions [Member] | Nonperforming Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 490    
Financing Receivable, Originated Two Years before Latest Fiscal Year 188    
Financing Receivable, Originated Three Years before Latest Fiscal Year 117    
Financing Receivable, Originated Four Years before Latest Fiscal Year 229    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 239    
Financing Receivable, Revolving 0    
Loans held for investment 1,263   1,248
Consumer Portfolio Segment [Member] | Personal Loans [Member] | Florida region [Member}      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 274    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 8    
Financing Receivable, Originated Two Years before Latest Fiscal Year 71    
Financing Receivable, Originated Three Years before Latest Fiscal Year 7    
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 360   334
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff 0    
Financing Receivable, Revolving, Writeoff 0    
Financing Receivable, Allowance for Credit Loss, Writeoff 0    
Consumer Portfolio Segment [Member] | Personal Loans [Member] | Florida region [Member} | Performing Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 274    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 8    
Financing Receivable, Originated Two Years before Latest Fiscal Year 71    
Financing Receivable, Originated Three Years before Latest Fiscal Year 7    
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 360   334
Consumer Portfolio Segment [Member] | Personal Loans [Member] | Florida region [Member} | Nonperforming Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 0    
Financing Receivable, Revolving 0    
Loans held for investment 0   0
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 0    
Financing Receivable, Revolving 310,627    
Loans held for investment 310,627   311,731
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff 0    
Financing Receivable, Revolving, Writeoff 4,057    
Financing Receivable, Allowance for Credit Loss, Writeoff 4,057    
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | Performing Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 0    
Financing Receivable, Revolving 310,627    
Loans held for investment 310,627   311,731
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | Nonperforming Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 0    
Financing Receivable, Revolving 0    
Loans held for investment 0   0
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | Puerto Rico and Virgin Islands regions [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 0    
Financing Receivable, Revolving 310,627    
Loans held for investment 310,627   311,731
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff 0    
Financing Receivable, Revolving, Writeoff 4,057    
Financing Receivable, Allowance for Credit Loss, Writeoff 4,057    
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | Puerto Rico and Virgin Islands regions [Member] | Performing Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 0    
Financing Receivable, Revolving 310,627    
Loans held for investment 310,627   311,731
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | Puerto Rico and Virgin Islands regions [Member] | Nonperforming Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 0    
Financing Receivable, Revolving 0    
Loans held for investment 0   0
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | Florida region [Member}      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 0    
Financing Receivable, Revolving 0    
Loans held for investment 0   0
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff 0    
Financing Receivable, Revolving, Writeoff 0    
Financing Receivable, Allowance for Credit Loss, Writeoff 0    
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | Florida region [Member} | Performing Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 0    
Financing Receivable, Revolving 0    
Loans held for investment 0   0
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | Florida region [Member} | Nonperforming Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 0    
Financing Receivable, Revolving 0    
Loans held for investment 0   0
Consumer Portfolio Segment [Member] | Other Loans [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 23,413    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 66,819    
Financing Receivable, Originated Two Years before Latest Fiscal Year 18,012    
Financing Receivable, Originated Three Years before Latest Fiscal Year 8,738    
Financing Receivable, Originated Four Years before Latest Fiscal Year 9,955    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 9,174    
Financing Receivable, Revolving 11,125    
Loans held for investment 147,236   146,190
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff 14    
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff 1,842    
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff 762    
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff 174    
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff 326    
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff 178    
Financing Receivable, Revolving, Writeoff 91    
Financing Receivable, Allowance for Credit Loss, Writeoff 3,387    
Consumer Portfolio Segment [Member] | Other Loans [Member] | Performing Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 23,413    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 66,279    
Financing Receivable, Originated Two Years before Latest Fiscal Year 17,841    
Financing Receivable, Originated Three Years before Latest Fiscal Year 8,679    
Financing Receivable, Originated Four Years before Latest Fiscal Year 9,851    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 8,923    
Financing Receivable, Revolving 10,923    
Loans held for investment 145,909   144,949
Consumer Portfolio Segment [Member] | Other Loans [Member] | Nonperforming Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 540    
Financing Receivable, Originated Two Years before Latest Fiscal Year 171    
Financing Receivable, Originated Three Years before Latest Fiscal Year 59    
Financing Receivable, Originated Four Years before Latest Fiscal Year 104    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 251    
Financing Receivable, Revolving 202    
Loans held for investment 1,327   1,241
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 23,413    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 66,770    
Financing Receivable, Originated Two Years before Latest Fiscal Year 17,783    
Financing Receivable, Originated Three Years before Latest Fiscal Year 8,278    
Financing Receivable, Originated Four Years before Latest Fiscal Year 9,955    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 6,698    
Financing Receivable, Revolving 8,798    
Loans held for investment 141,695   140,238
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff 14    
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff 1,842    
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff 762    
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff 174    
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff 326    
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff 178    
Financing Receivable, Revolving, Writeoff 91    
Financing Receivable, Allowance for Credit Loss, Writeoff 3,387    
Consumer Portfolio Segment [Member] | Other Loans [Member] | Puerto Rico and Virgin Islands regions [Member] | Performing Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 23,413    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 66,230    
Financing Receivable, Originated Two Years before Latest Fiscal Year 17,612    
Financing Receivable, Originated Three Years before Latest Fiscal Year 8,219    
Financing Receivable, Originated Four Years before Latest Fiscal Year 9,851    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 6,468    
Financing Receivable, Revolving 8,700    
Loans held for investment 140,493   139,116
Consumer Portfolio Segment [Member] | Other Loans [Member] | Puerto Rico and Virgin Islands regions [Member] | Nonperforming Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 540    
Financing Receivable, Originated Two Years before Latest Fiscal Year 171    
Financing Receivable, Originated Three Years before Latest Fiscal Year 59    
Financing Receivable, Originated Four Years before Latest Fiscal Year 104    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 230    
Financing Receivable, Revolving 98    
Loans held for investment 1,202   1,122
Consumer Portfolio Segment [Member] | Other 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 49    
Financing Receivable, Originated Two Years before Latest Fiscal Year 229    
Financing Receivable, Originated Three Years before Latest Fiscal Year 460    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 2,476    
Financing Receivable, Revolving 2,327    
Loans held for investment 5,541   5,952
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff 0    
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff 0    
Financing Receivable, Revolving, Writeoff 0    
Financing Receivable, Allowance for Credit Loss, Writeoff 0    
Consumer Portfolio Segment [Member] | Other Loans [Member] | Florida region [Member} | Performing Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 49    
Financing Receivable, Originated Two Years before Latest Fiscal Year 229    
Financing Receivable, Originated Three Years before Latest Fiscal Year 460    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 2,455    
Financing Receivable, Revolving 2,223    
Loans held for investment 5,416   5,833
Consumer Portfolio Segment [Member] | Other Loans [Member] | Florida region [Member} | Nonperforming Financial Instruments [Member]      
Financing Receivable, Recorded Investment [Line Items]      
Financing Receivable, Originated in Current Fiscal Year 0    
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year 0    
Financing Receivable, Originated Two Years before Latest Fiscal Year 0    
Financing Receivable, Originated Three Years before Latest Fiscal Year 0    
Financing Receivable, Originated Four Years before Latest Fiscal Year 0    
Financing Receivable, Originated Five or More Years before Latest Fiscal Year 21    
Financing Receivable, Revolving 104    
Loans held for investment $ 125   $ 119
v3.23.1
LOANS HELD FOR INVESTMENT - Collateral Dependent Loans Individually Evaluated For Purposes of Determining the ACL (Detail) - Collateral Pledged [Member] - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Loans and Leases Receivable Disclosure [Line Items]    
Amortized Cost with ACL $ 38,550 $ 40,448
Related Specific Allowance 3,654 3,820
Amortized Cost no ACL 76,290 81,063
Amortized Cost 114,840 121,511
Residential Portfolio Segment [Member] | Conventional Loan [Member]    
Loans and Leases Receivable Disclosure [Line Items]    
Amortized Cost with ACL 34,257 36,206
Related Specific Allowance 2,410 2,571
Amortized Cost no ACL 152 0
Amortized Cost 34,409 36,206
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]    
Loans and Leases Receivable Disclosure [Line Items]    
Amortized Cost with ACL 1,789 1,513
Related Specific Allowance 347 322
Amortized Cost no ACL 13,331 17,590
Amortized Cost 15,120 19,103
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]    
Loans and Leases Receivable Disclosure [Line Items]    
Amortized Cost with ACL 2,449 2,466
Related Specific Allowance 896 897
Amortized Cost no ACL 61,851 62,453
Amortized Cost 64,300 64,919
Commercial Portfolio Segment [Member] | Construction Loans [Member]    
Loans and Leases Receivable Disclosure [Line Items]    
Amortized Cost with ACL 0 0
Related Specific Allowance 0 0
Amortized Cost no ACL 956 956
Amortized Cost 956 956
Consumer Portfolio Segment [Member] | Personal Loans [Member]    
Loans and Leases Receivable Disclosure [Line Items]    
Amortized Cost with ACL 55 56
Related Specific Allowance 1 1
Amortized Cost no ACL 0 64
Amortized Cost 55 120
Consumer Portfolio Segment [Member] | Other Loans [Member]    
Loans and Leases Receivable Disclosure [Line Items]    
Amortized Cost with ACL 0 207
Related Specific Allowance 0 29
Amortized Cost no ACL 0 0
Amortized Cost $ 0 $ 207
v3.23.1
LOANS HELD FOR INVESTMENT - Additional Information (Detail) - USD ($)
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss $ 11,577,985,000   $ 11,552,825,000  
Interest Receivable 63,841,000   69,730,000  
Financing Receivable Allowance For Credit Losses 265,567,000 $ 245,447,000 260,464,000 $ 269,030,000
Financing Receivable, Allowance for Credit Loss, Writeoff 17,917,000 12,715,000    
Loans and finance leases 16,256,000 (16,989,000)    
Interest Income Recognized on Nonaccrual Loans 500,000 400,000    
Loans modified to borrowers experiencing financial difficulty 2,180,000      
Past Due [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Loans modified to borrowers experiencing financial difficulty $ 374,000      
Puerto Rico [Member] | Product Concentration Risk [Member] | Loan Portfolio [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Credit risk concentration 80.00%      
United States [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss $ 1,979,362,000   $ 2,088,351,000  
United States [Member] | Product Concentration Risk [Member] | Loan Portfolio [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Credit risk concentration 17.00%      
USVI and BVI [Member] | Product Concentration Risk [Member] | Loan Portfolio [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Credit risk concentration 3.00%      
Nonaccrual loans [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable Accrued Interest Writeoff $ 600,000 400,000    
Collateral Pledged [Member] | Weighted Average [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
LTV Coverage % 69.00%   70.00%  
Loans and Finance Receivables [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Interest Receivable $ 49,400,000   $ 53,100,000  
GNMA [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Loans pooled amount 29,400,000 41,500,000    
Recognized gain on sale 900,000 1,300,000    
Residential Portfolio Segment [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 2,811,528,000   2,847,290,000  
Residential mortgage loans in process of foreclosure $ 62,600,000      
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.
 
Foreclosure
 
procedures
 
and
timelines
 
vary
 
depending
 
on
 
whether
 
the
 
property
 
is
 
located
 
in
 
a
 
judicial
 
or
 
non-judicial
 
state.
 
Occasionally,
 
foreclosures
 
may
 
be
delayed due to, among other reasons, mandatory mediations, bankruptcy,
 
court delays, and title issues.
      
Financing Receivable Allowance For Credit Losses $ 64,403,000 68,820,000 62,760,000 74,837,000
Financing Receivable, Allowance for Credit Loss, Writeoff 983,000 2,528,000    
Loans and finance leases 73,000 (4,871,000)    
Residential Portfolio Segment [Member] | Puerto Rico [Member] | Government [Member] | PRHFA [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 82,900,000   84,700,000  
Residential Portfolio Segment [Member] | United States [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 429,746,000   429,390,000  
Financing Receivable, Allowance for Credit Loss, Writeoff 0      
Residential Portfolio Segment [Member] | Performing loans [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 2,775,118,000   2,804,518,000  
Residential Portfolio Segment [Member] | Performing loans [Member] | United States [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 422,329,000   422,089,000  
Residential Portfolio Segment [Member] | Nonaccrual loans [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 36,410,000   42,772,000  
Residential Portfolio Segment [Member] | Nonaccrual loans [Member] | United States [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 7,417,000   7,301,000  
Residential Portfolio Segment [Member] | PCD loans [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Residential mortgage loans in process of foreclosure 8,800,000      
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 2,699,959,000   2,729,132,000  
Loans modified to borrowers experiencing financial difficulty 880,000      
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Past Due [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Loans modified to borrowers experiencing financial difficulty 0      
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | United States [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 429,011,000   428,648,000  
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Performing loans [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 2,663,549,000   2,686,360,000  
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Performing loans [Member] | United States [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 421,594,000   421,347,000  
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Nonaccrual loans [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 36,410,000   42,772,000  
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Nonaccrual loans [Member] | United States [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 7,417,000   7,301,000  
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 111,569,000   118,158,000  
Residential mortgage loans in process of foreclosure 27,200,000      
Loans modified to borrowers experiencing financial difficulty 900,000      
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | United States [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 735,000   742,000  
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Performing loans [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 111,569,000   118,158,000  
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Performing loans [Member] | United States [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 735,000   742,000  
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Nonaccrual loans [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 0   0  
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Nonaccrual loans [Member] | United States [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 0   0  
Residential Portfolio Segment [Member] | GNMA [Member] | Repurchase Option Program [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 7,100,000   10,400,000  
Financing Receivable, Purchase 1,500,000 500,000    
Residential Portfolio Segment [Member] | FNMA [Member] | Performing loans [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Gain from sale of loans 200,000 2,100,000    
Residential mortgage loans sold 8,000,000.0 50,000,000.0    
Residential Portfolio Segment [Member] | FHLMC [Member] | Performing loans [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Gain from sale of loans   100,000    
Residential mortgage loans sold   2,400,000    
Commercial Portfolio Segment [Member] | Puerto Rico [Member] | Government [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 170,900,000   169,800,000  
Commercial Portfolio Segment [Member] | Puerto Rico [Member] | Government [Member] | PREPA [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 10,200,000      
Commercial Portfolio Segment [Member] | Puerto Rico [Member] | Government [Member] | Property Tax Revenue [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 102,700,000      
Commercial Portfolio Segment [Member] | Puerto Rico [Member] | Government [Member] | Municipal Special Obligation Bond [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 28,000,000.0      
Commercial Portfolio Segment [Member] | USVI [Member] | Government [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 38,700,000   38,000,000.0  
Commercial Portfolio Segment [Member] | Construction loans [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 143,664,000   132,953,000  
Financing Receivable Allowance For Credit Losses 3,231,000 1,842,000 2,308,000 4,048,000
Financing Receivable, Allowance for Credit Loss, Writeoff 0 44,000    
Loans and finance leases 860,000 (2,214,000)    
Loans modified to borrowers experiencing financial difficulty 0      
Commercial Portfolio Segment [Member] | Construction loans [Member] | Past Due [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Loans modified to borrowers experiencing financial difficulty 0      
Commercial Portfolio Segment [Member] | Construction loans [Member] | United States [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 95,469,000   98,181,000  
Financing Receivable, Allowance for Credit Loss, Writeoff 0      
Commercial Portfolio Segment [Member] | Central Government [Member] | Puerto Rico [Member] | Government [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 30,000,000.0      
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 2,353,659,000   2,358,851,000  
Financing Receivable Allowance For Credit Losses 36,460,000 30,138,000 35,064,000 52,771,000
Financing Receivable, Allowance for Credit Loss, Writeoff 18,000 37,000    
Loans and finance leases 1,246,000 (22,640,000)    
Loans modified to borrowers experiencing financial difficulty 0      
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Past Due [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Loans modified to borrowers experiencing financial difficulty 0      
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | United States [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 524,486,000   524,647,000  
Financing Receivable, Allowance for Credit Loss, Writeoff 0      
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 2,862,189,000   2,886,263,000  
Financing Receivable, Purchase 0      
Financing Receivable Allowance For Credit Losses 31,235,000 36,784,000 32,906,000 34,284,000
Financing Receivable, Allowance for Credit Loss, Writeoff 118,000 290,000    
Loans and finance leases (1,650,000) 1,755,000    
Loans modified to borrowers experiencing financial difficulty 40,000      
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Past Due [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Loans modified to borrowers experiencing financial difficulty 0      
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | United States [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 920,961,000   1,026,154,000  
Financing Receivable, Purchase   46,400,000    
Financing Receivable, Allowance for Credit Loss, Writeoff 0      
Consumer Portfolio Segment [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 3,406,945,000   3,327,468,000  
Financing Receivable Allowance For Credit Losses 130,238,000 107,863,000 127,426,000 $ 103,090,000
Financing Receivable, Allowance for Credit Loss, Writeoff 16,798,000 9,816,000    
Loans and finance leases 15,727,000 $ 10,981,000    
Consumer Portfolio Segment [Member] | United States [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 8,700,000   9,979,000  
Financing Receivable, Allowance for Credit Loss, Writeoff 155,000      
Consumer Portfolio Segment [Member] | Performing loans [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 3,391,009,000   3,312,662,000  
Consumer Portfolio Segment [Member] | Performing loans [Member] | United States [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 8,553,000   9,784,000  
Consumer Portfolio Segment [Member] | Nonaccrual loans [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss 15,936,000   14,806,000  
Consumer Portfolio Segment [Member] | Nonaccrual loans [Member] | United States [Member]        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss $ 147,000   $ 195,000  
v3.23.1
LOANS HELD FOR INVESTMENT - Selected Information on TDRs includes Recorded Investment by Loan Class and Modification Type (Detail) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty $ 2,180  
Post-Modification Outstanding Recorded Investment   $ 4,670
Residential Portfolio Segment [Member] | Conventional Loan [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty $ 880  
Percentage of Total by Portfolio Classes 0.03%  
Post-Modification Outstanding Recorded Investment   2,993
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty $ 40  
Percentage of Total by Portfolio Classes 0.00%  
Post-Modification Outstanding Recorded Investment   5
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty $ 0  
Percentage of Total by Portfolio Classes 0.00%  
Post-Modification Outstanding Recorded Investment   0
Construction loans [Member] | Commercial Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty $ 0  
Percentage of Total by Portfolio Classes 0.00%  
Post-Modification Outstanding Recorded Investment   0
Auto loans [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty $ 711  
Percentage of Total by Portfolio Classes 0.04%  
Post-Modification Outstanding Recorded Investment   993
Finance Leases [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment   264
Personal Loans [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty $ 42  
Percentage of Total by Portfolio Classes 0.01%  
Post-Modification Outstanding Recorded Investment   78
Credit Card Receivables [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty $ 289  
Percentage of Total by Portfolio Classes 0.09%  
Post-Modification Outstanding Recorded Investment   189
Other Loans [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty $ 218  
Percentage of Total by Portfolio Classes 0.15%  
Post-Modification Outstanding Recorded Investment   148
Forbearance [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty $ 0  
Forbearance [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Forbearance [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Forbearance [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Forbearance [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Forbearance [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Forbearance [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Forbearance [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Forbearance [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Payment Plan [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Payment Plan [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Payment Plan [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Payment Plan [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Payment Plan [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Payment Plan [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Payment Plan [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Payment Plan [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Payment Plan [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Trial Modification [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 332  
Trial Modification [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 332  
Trial Modification [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Trial Modification [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Trial Modification [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Trial Modification [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Trial Modification [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Trial Modification [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Trial Modification [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Interest Rate Reduction [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 289  
Post-Modification Outstanding Recorded Investment   1,229
Interest Rate Reduction [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Post-Modification Outstanding Recorded Investment   215
Interest Rate Reduction [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Post-Modification Outstanding Recorded Investment   0
Interest Rate Reduction [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Post-Modification Outstanding Recorded Investment   0
Interest Rate Reduction [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Post-Modification Outstanding Recorded Investment   0
Interest Rate Reduction [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Post-Modification Outstanding Recorded Investment   792
Interest Rate Reduction [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment   0
Interest Rate Reduction [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Post-Modification Outstanding Recorded Investment   0
Interest Rate Reduction [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 289  
Post-Modification Outstanding Recorded Investment   189
Interest Rate Reduction [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Post-Modification Outstanding Recorded Investment   33
Term Extension [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 682  
Post-Modification Outstanding Recorded Investment   1,197
Term Extension [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 433  
Post-Modification Outstanding Recorded Investment   731
Term Extension [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Post-Modification Outstanding Recorded Investment   0
Term Extension [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Post-Modification Outstanding Recorded Investment   0
Term Extension [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Post-Modification Outstanding Recorded Investment   0
Term Extension [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 89  
Post-Modification Outstanding Recorded Investment   54
Term Extension [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment   246
Term Extension [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 28  
Post-Modification Outstanding Recorded Investment   60
Term Extension [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Post-Modification Outstanding Recorded Investment   0
Term Extension [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 132  
Post-Modification Outstanding Recorded Investment   106
Combination Of Interest Rate Reduction And Term Extension [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 227  
Post-Modification Outstanding Recorded Investment   355
Combination Of Interest Rate Reduction And Term Extension [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 115  
Post-Modification Outstanding Recorded Investment   190
Combination Of Interest Rate Reduction And Term Extension [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Post-Modification Outstanding Recorded Investment   0
Combination Of Interest Rate Reduction And Term Extension [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Post-Modification Outstanding Recorded Investment   0
Combination Of Interest Rate Reduction And Term Extension [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Post-Modification Outstanding Recorded Investment   0
Combination Of Interest Rate Reduction And Term Extension [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 38  
Post-Modification Outstanding Recorded Investment   147
Combination Of Interest Rate Reduction And Term Extension [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment   0
Combination Of Interest Rate Reduction And Term Extension [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 14  
Post-Modification Outstanding Recorded Investment   18
Combination Of Interest Rate Reduction And Term Extension [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Post-Modification Outstanding Recorded Investment   0
Combination Of Interest Rate Reduction And Term Extension [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 60  
Post-Modification Outstanding Recorded Investment   0
Forgiveness Of Principal And/Or Interest [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Post-Modification Outstanding Recorded Investment   9
Forgiveness Of Principal And/Or Interest [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Post-Modification Outstanding Recorded Investment   0
Forgiveness Of Principal And/Or Interest [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Post-Modification Outstanding Recorded Investment   0
Forgiveness Of Principal And/Or Interest [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Post-Modification Outstanding Recorded Investment   0
Forgiveness Of Principal And/Or Interest [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Post-Modification Outstanding Recorded Investment   0
Forgiveness Of Principal And/Or Interest [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Post-Modification Outstanding Recorded Investment   0
Forgiveness Of Principal And/Or Interest [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment   0
Forgiveness Of Principal And/Or Interest [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Post-Modification Outstanding Recorded Investment   0
Forgiveness Of Principal And/Or Interest [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Post-Modification Outstanding Recorded Investment   0
Forgiveness Of Principal And/Or Interest [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Post-Modification Outstanding Recorded Investment   9
Other Loan Modifications [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 650  
Post-Modification Outstanding Recorded Investment   1,880
Other Loan Modifications [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Post-Modification Outstanding Recorded Investment   1,857
Other Loan Modifications [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 40  
Post-Modification Outstanding Recorded Investment   5
Other Loan Modifications [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Post-Modification Outstanding Recorded Investment   0
Other Loan Modifications [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Post-Modification Outstanding Recorded Investment   0
Other Loan Modifications [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 584  
Post-Modification Outstanding Recorded Investment   0
Other Loan Modifications [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment   18
Other Loan Modifications [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Post-Modification Outstanding Recorded Investment   0
Other Loan Modifications [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty 0  
Post-Modification Outstanding Recorded Investment   0
Other Loan Modifications [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Loans modified to borrowers experiencing financial difficulty $ 26  
Post-Modification Outstanding Recorded Investment   0
Entity Loan Modification Program [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment   4,670
Entity Loan Modification Program [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment   2,993
Entity Loan Modification Program [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment   5
Entity Loan Modification Program [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment   0
Entity Loan Modification Program [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment   0
Entity Loan Modification Program [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment   993
Entity Loan Modification Program [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment   264
Entity Loan Modification Program [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment   78
Entity Loan Modification Program [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment   148
Entity Loan Modification Program [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member]    
Financing Receivable Modifications [Line Items]    
Post-Modification Outstanding Recorded Investment   $ 189
v3.23.1
LOANS HELD FOR INVESTMENT - Financial Effects of the Permanent Modifications Granted to Borrowers Experiencing Financial Difficulty (Detail) - Permanent Modification [Member]
$ in Thousands
 3 Months Ended
Mar. 31, 2023
USD ($)
Residential Portfolio Segment [Member] | Conventional Loan [Member]  
Financing Receivable Modifications [Line Items]  
Weighted-Average Interest Rate Reduction (%) 0.00%
Weighted-Average Term Extension (in months) 98 months
Weighted-Average Forgiveness of Principal and/or Interest $ 0
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]  
Financing Receivable Modifications [Line Items]  
Weighted-Average Interest Rate Reduction (%) 0.00%
Weighted-Average Forgiveness of Principal and/or Interest $ 0
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]  
Financing Receivable Modifications [Line Items]  
Weighted-Average Interest Rate Reduction (%) 0.00%
Weighted-Average Forgiveness of Principal and/or Interest $ 0
Construction Loans [Member] | Commercial Portfolio Segment [Member]  
Financing Receivable Modifications [Line Items]  
Weighted-Average Interest Rate Reduction (%) 0.00%
Weighted-Average Forgiveness of Principal and/or Interest $ 0
Automobile Loan [Member] | Consumer Portfolio Segment [Member]  
Financing Receivable Modifications [Line Items]  
Weighted-Average Interest Rate Reduction (%) 0.00%
Weighted-Average Term Extension (in months) 22 months
Weighted-Average Forgiveness of Principal and/or Interest $ 0
Personal Loans [Member] | Consumer Portfolio Segment [Member]  
Financing Receivable Modifications [Line Items]  
Weighted-Average Interest Rate Reduction (%) 0.00%
Weighted-Average Term Extension (in months) 30 months
Weighted-Average Forgiveness of Principal and/or Interest $ 0
Credit Card Receivables [Member] | Consumer Portfolio Segment [Member]  
Financing Receivable Modifications [Line Items]  
Weighted-Average Interest Rate Reduction (%) 16.04%
Weighted-Average Forgiveness of Principal and/or Interest $ 0
Other Loans [Member] | Consumer Portfolio Segment [Member]  
Financing Receivable Modifications [Line Items]  
Weighted-Average Interest Rate Reduction (%) 0.00%
Weighted-Average Term Extension (in months) 27 months
Weighted-Average Forgiveness of Principal and/or Interest $ 0
Combination Of Interest Rate Below Market Reduction And Extended Maturity [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member]  
Financing Receivable Modifications [Line Items]  
Weighted-Average Interest Rate Reduction (%) 2.11%
Weighted-Average Term Extension (in months) 141 months
Combination Of Interest Rate Below Market Reduction And Extended Maturity [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]  
Financing Receivable Modifications [Line Items]  
Weighted-Average Interest Rate Reduction (%) 0.00%
Combination Of Interest Rate Below Market Reduction And Extended Maturity [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]  
Financing Receivable Modifications [Line Items]  
Weighted-Average Interest Rate Reduction (%) 0.00%
Combination Of Interest Rate Below Market Reduction And Extended Maturity [Member] | Construction Loans [Member] | Commercial Portfolio Segment [Member]  
Financing Receivable Modifications [Line Items]  
Weighted-Average Interest Rate Reduction (%) 0.00%
Combination Of Interest Rate Below Market Reduction And Extended Maturity [Member] | Automobile Loan [Member] | Consumer Portfolio Segment [Member]  
Financing Receivable Modifications [Line Items]  
Weighted-Average Interest Rate Reduction (%) 2.88%
Weighted-Average Term Extension (in months) 28 months
Combination Of Interest Rate Below Market Reduction And Extended Maturity [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member]  
Financing Receivable Modifications [Line Items]  
Weighted-Average Interest Rate Reduction (%) 3.36%
Weighted-Average Term Extension (in months) 12 months
Combination Of Interest Rate Below Market Reduction And Extended Maturity [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member]  
Financing Receivable Modifications [Line Items]  
Weighted-Average Interest Rate Reduction (%) 0.00%
Combination Of Interest Rate Below Market Reduction And Extended Maturity [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member]  
Financing Receivable Modifications [Line Items]  
Weighted-Average Interest Rate Reduction (%) 1.96%
Weighted-Average Term Extension (in months) 26 months
v3.23.1
LOANS HELD FOR INVESTMENT - Performance of Loans Modified During Period (Detail)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
USD ($)
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period $ 2,180
Financing Receivables, 30 to 59 Days Past Due [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 147
Financing Receivables, 60 to 89 Days Past Due [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 227
Financing Receivables, Equal to Greater than 90 Days Past Due [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 0
Total Delinquency [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 374
Current [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 1,806
Residential Portfolio Segment [Member] | Conventional Loan [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 880
Residential Portfolio Segment [Member] | Conventional Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 0
Residential Portfolio Segment [Member] | Conventional Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 0
Residential Portfolio Segment [Member] | Conventional Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 0
Residential Portfolio Segment [Member] | Conventional Loan [Member] | Total Delinquency [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 0
Residential Portfolio Segment [Member] | Conventional Loan [Member] | Current [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 880
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 40
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 0
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 0
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 0
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Total Delinquency [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 0
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Current [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 40
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 0
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 0
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 0
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 0
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Total Delinquency [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 0
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Current [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 0
Construction Loans [Member] | Commercial Portfolio Segment [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 0
Construction Loans [Member] | Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 0
Construction Loans [Member] | Commercial Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 0
Construction Loans [Member] | Commercial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 0
Construction Loans [Member] | Commercial Portfolio Segment [Member] | Total Delinquency [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 0
Construction Loans [Member] | Commercial Portfolio Segment [Member] | Current [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 0
Automobile Loan [Member] | Consumer Portfolio Segment [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 711
Automobile Loan [Member] | Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 44
Automobile Loan [Member] | Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 138
Automobile Loan [Member] | Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 0
Automobile Loan [Member] | Consumer Portfolio Segment [Member] | Total Delinquency [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 182
Automobile Loan [Member] | Consumer Portfolio Segment [Member] | Current [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 529
Personal Loans [Member] | Consumer Portfolio Segment [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 42
Personal Loans [Member] | Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 0
Personal Loans [Member] | Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 0
Personal Loans [Member] | Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 0
Personal Loans [Member] | Consumer Portfolio Segment [Member] | Total Delinquency [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 0
Personal Loans [Member] | Consumer Portfolio Segment [Member] | Current [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 42
Credit Card Receivables [Member] | Consumer Portfolio Segment [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 289
Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 103
Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 89
Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 0
Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | Total Delinquency [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 192
Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | Current [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 97
Other Loans [Member] | Consumer Portfolio Segment [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 218
Other Loans [Member] | Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 0
Other Loans [Member] | Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 0
Other Loans [Member] | Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 0
Other Loans [Member] | Consumer Portfolio Segment [Member] | Total Delinquency [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period 0
Other Loans [Member] | Consumer Portfolio Segment [Member] | Current [Member]  
Financing Receivable Modifications [Line Items]  
Financing Receivable Excluding Accrued Interest Modified Period $ 218
v3.23.1
LOANS HELD FOR INVESTMENT - Loan Modifications are Considered TDRs (Detail)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
USD ($)
numberofcontracts
Financing Receivable Modifications [Line Items]  
Post-Modification Outstanding Recorded Investment $ 4,670
Residential Portfolio Segment [Member] | Conventional Loan [Member]  
Financing Receivable Modifications [Line Items]  
Post-Modification Outstanding Recorded Investment 2,993
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]  
Financing Receivable Modifications [Line Items]  
Post-Modification Outstanding Recorded Investment 5
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]  
Financing Receivable Modifications [Line Items]  
Post-Modification Outstanding Recorded Investment 0
Construction loans [Member] | Commercial Portfolio Segment [Member]  
Financing Receivable Modifications [Line Items]  
Post-Modification Outstanding Recorded Investment 0
Auto loans [Member] | Consumer Portfolio Segment [Member]  
Financing Receivable Modifications [Line Items]  
Post-Modification Outstanding Recorded Investment 993
Finance Leases [Member] | Consumer Portfolio Segment [Member]  
Financing Receivable Modifications [Line Items]  
Post-Modification Outstanding Recorded Investment 264
Personal Loans [Member] | Consumer Portfolio Segment [Member]  
Financing Receivable Modifications [Line Items]  
Post-Modification Outstanding Recorded Investment 78
Other Loans [Member] | Consumer Portfolio Segment [Member]  
Financing Receivable Modifications [Line Items]  
Post-Modification Outstanding Recorded Investment 148
Credit Card Receivables [Member] | Consumer Portfolio Segment [Member]  
Financing Receivable Modifications [Line Items]  
Post-Modification Outstanding Recorded Investment $ 189
TDR [Member]  
Financing Receivable Modifications [Line Items]  
Number of contracts | numberofcontracts 164
Pre-modification Outstanding Recorded Investment $ 4,673
Post-Modification Outstanding Recorded Investment $ 4,670
TDR [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member]  
Financing Receivable Modifications [Line Items]  
Number of contracts | numberofcontracts 23
Pre-modification Outstanding Recorded Investment $ 2,996
Post-Modification Outstanding Recorded Investment $ 2,993
TDR [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]  
Financing Receivable Modifications [Line Items]  
Number of contracts | numberofcontracts 1
Pre-modification Outstanding Recorded Investment $ 5
Post-Modification Outstanding Recorded Investment $ 5
TDR [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]  
Financing Receivable Modifications [Line Items]  
Number of contracts | numberofcontracts 0
Pre-modification Outstanding Recorded Investment $ 0
Post-Modification Outstanding Recorded Investment $ 0
TDR [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member]  
Financing Receivable Modifications [Line Items]  
Number of contracts | numberofcontracts 0
Pre-modification Outstanding Recorded Investment $ 0
Post-Modification Outstanding Recorded Investment $ 0
TDR [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member]  
Financing Receivable Modifications [Line Items]  
Number of contracts | numberofcontracts 51
Pre-modification Outstanding Recorded Investment $ 995
Post-Modification Outstanding Recorded Investment $ 993
TDR [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member]  
Financing Receivable Modifications [Line Items]  
Number of contracts | numberofcontracts 13
Pre-modification Outstanding Recorded Investment $ 264
Post-Modification Outstanding Recorded Investment $ 264
TDR [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member]  
Financing Receivable Modifications [Line Items]  
Number of contracts | numberofcontracts 5
Pre-modification Outstanding Recorded Investment $ 78
Post-Modification Outstanding Recorded Investment $ 78
TDR [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member]  
Financing Receivable Modifications [Line Items]  
Number of contracts | numberofcontracts 44
Pre-modification Outstanding Recorded Investment $ 189
Post-Modification Outstanding Recorded Investment $ 189
TDR [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member]  
Financing Receivable Modifications [Line Items]  
Number of contracts | numberofcontracts 27
Pre-modification Outstanding Recorded Investment $ 146
Post-Modification Outstanding Recorded Investment $ 148
v3.23.1
LOANS HELD FOR INVESTMENT - Loan Modifications Considered Troubled Debt Restructurings Defaulted (Detail) - TDR [Member]
$ in Thousands
 3 Months Ended
Mar. 31, 2022
USD ($)
numberofcontracts
Financing Receivable Modifications [Line Items]  
Number of contracts | numberofcontracts 41
Recorded investment | $ $ 1,017
Residential Portfolio Segment [Member] | Conventional Loan [Member]  
Financing Receivable Modifications [Line Items]  
Number of contracts | numberofcontracts 3
Recorded investment | $ $ 389
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]  
Financing Receivable Modifications [Line Items]  
Number of contracts | numberofcontracts 0
Recorded investment | $ $ 0
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]  
Financing Receivable Modifications [Line Items]  
Number of contracts | numberofcontracts 0
Recorded investment | $ $ 0
Construction Loans [Member] | Commercial Portfolio Segment [Member]  
Financing Receivable Modifications [Line Items]  
Number of contracts | numberofcontracts 0
Recorded investment | $ $ 0
Auto loans [Member] | Consumer Portfolio Segment [Member]  
Financing Receivable Modifications [Line Items]  
Number of contracts | numberofcontracts 24
Recorded investment | $ $ 522
Finance Leases [Member] | Consumer Portfolio Segment [Member]  
Financing Receivable Modifications [Line Items]  
Number of contracts | numberofcontracts 1
Recorded investment | $ $ 16
Personal Loans [Member] | Consumer Portfolio Segment [Member]  
Financing Receivable Modifications [Line Items]  
Number of contracts | numberofcontracts 0
Recorded investment | $ $ 0
Credit Cards | Consumer Portfolio Segment [Member]  
Financing Receivable Modifications [Line Items]  
Number of contracts | numberofcontracts 11
Recorded investment | $ $ 79
Other Loans [Member] | Consumer Portfolio Segment [Member]  
Financing Receivable Modifications [Line Items]  
Number of contracts | numberofcontracts 2
Recorded investment | $ $ 11
v3.23.1
ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LOSSES - Activity in ACL on loans and finance leases (Detail) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Financing Receivable Allowance For Credit Losses [Line Items]    
Beginning balance $ 260,464 $ 269,030
Provision for credit losses - (benefit) expense 16,256 (16,989)
Charge-offs (17,917) (12,715)
Recoveries 4,648 6,121
Ending balance 265,567 245,447
Accounting Standard Update 2022-02 [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Beginning balance 2,116  
Residential Portfolio Segment [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Beginning balance 62,760 74,837
Provision for credit losses - (benefit) expense 73 (4,871)
Charge-offs (983) (2,528)
Recoveries 497 1,382
Ending balance 64,403 68,820
Residential Portfolio Segment [Member] | Accounting Standard Update 2022-02 [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Beginning balance 2,056  
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Beginning balance 32,906 34,284
Provision for credit losses - (benefit) expense (1,650) 1,755
Charge-offs (118) (290)
Recoveries 90 1,035
Ending balance 31,235 36,784
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Accounting Standard Update 2022-02 [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Beginning balance 7  
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Beginning balance 35,064 52,771
Provision for credit losses - (benefit) expense 1,246 (22,640)
Charge-offs (18) (37)
Recoveries 168 44
Ending balance 36,460 30,138
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Accounting Standard Update 2022-02 [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Beginning balance 0  
Commercial Portfolio Segment [Member] | Construction Loans [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Beginning balance 2,308 4,048
Provision for credit losses - (benefit) expense 860 (2,214)
Charge-offs 0 (44)
Recoveries 63 52
Ending balance 3,231 1,842
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Accounting Standard Update 2022-02 [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Beginning balance 0  
Consumer Portfolio Segment [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Beginning balance 127,426 103,090
Provision for credit losses - (benefit) expense 15,727 10,981
Charge-offs (16,798) (9,816)
Recoveries 3,830 3,608
Ending balance 130,238 $ 107,863
Consumer Portfolio Segment [Member] | Accounting Standard Update 2022-02 [Member]    
Financing Receivable Allowance For Credit Losses [Line Items]    
Beginning balance $ 53  
v3.23.1
ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LEASES - Carrying Amount of Portfolios (Detail) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2023
Dec. 31, 2022
Mar. 31, 2022
Dec. 31, 2021
Financing Receivable Allowance For Credit Losses [Line Items]        
Amortized cost of loans $ 11,577,985 $ 11,552,825    
Allowance for credit losses 265,567 260,464 $ 245,447 $ 269,030
Residential Mortgage Loans [Member]        
Financing Receivable Allowance For Credit Losses [Line Items]        
Amortized cost of loans 2,811,528 2,847,290    
Allowance for credit losses $ 64,403 $ 62,760 68,820 74,837
Residential Mortgage Loans [Member] | Allowance for loan and lease losses, numerator [Member] | Amortized cost, denominator [Member]        
Financing Receivable Allowance For Credit Losses [Line Items]        
Allowance for credit losses to amortized cost 2.29% 2.20%    
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]        
Financing Receivable Allowance For Credit Losses [Line Items]        
Amortized cost of loans $ 2,862,189 $ 2,886,263    
Allowance for credit losses $ 31,235 $ 32,906 36,784 34,284
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 1.09% 1.14%    
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]        
Financing Receivable Allowance For Credit Losses [Line Items]        
Amortized cost of loans $ 2,353,659 $ 2,358,851    
Allowance for credit losses $ 36,460 $ 35,064 30,138 52,771
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Allowance for loan and lease losses, numerator [Member] | Amortized cost, denominator [Member]        
Financing Receivable Allowance For Credit Losses [Line Items]        
Allowance for credit losses to amortized cost 1.55% 1.49%    
Commercial Portfolio Segment [Member] | Construction Loans [Member]        
Financing Receivable Allowance For Credit Losses [Line Items]        
Amortized cost of loans $ 143,664 $ 132,953    
Allowance for credit losses $ 3,231 $ 2,308 1,842 4,048
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 2.25% 1.74%    
Consumer Portfolio Segment [Member]        
Financing Receivable Allowance For Credit Losses [Line Items]        
Amortized cost of loans $ 3,406,945 $ 3,327,468    
Allowance for credit losses $ 130,238 $ 127,426 $ 107,863 $ 103,090
Consumer Portfolio Segment [Member] | Allowance for loan and lease losses, numerator [Member] | Amortized cost, denominator [Member]        
Financing Receivable Allowance For Credit Losses [Line Items]        
Allowance for credit losses to amortized cost 3.82% 3.83%    
Loan Total [Member] | Allowance for loan and lease losses, numerator [Member] | Amortized cost, denominator [Member]        
Financing Receivable Allowance For Credit Losses [Line Items]        
Allowance for credit losses to amortized cost 2.29% 2.25%    
v3.23.1
ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LOSSES - Activity in ACL for unfunded loan commitments and standby letters of credit (Detail) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Financing Receivable Allowance For Credit Losses [Line Items]    
Beginning balance $ 4,273 $ 1,537
Provision for credit losses - (benefit) (105) (178)
Ending balance $ 4,168 $ 1,359
v3.23.1
ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LEASES - Additional Information (Detail) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Dec. 31, 2021
Financing Receivable Allowance For Credit Losses [Line Items]        
Financing Receivable Allowance For Credit Losses $ 265,567 $ 245,447 $ 260,464 $ 269,030
Increase (decrease) in ACL (5,100)      
Provision for credit losses - (benefit) expense 16,256 (16,989)    
Net charge-offs 13,300      
Increase (decrease) in net charge-offs (6,700)      
Recoveries 4,648 6,121    
Off-Balance Sheet, Credit Loss, Liability, Credit Loss Expense (Reversal) (105) (178)    
Off-Balance Sheet, Credit Loss, Liability 4,168 1,359 4,273 1,537
Charge-offs 17,917 12,715    
Net disbursements on loans held for investment 71,193 48,370    
Residential Portfolio Segment [Member]        
Financing Receivable Allowance For Credit Losses [Line Items]        
Financing Receivable Allowance For Credit Losses 64,403 68,820 62,760 74,837
Increase (decrease) in ACL (1,600)      
Provision for credit losses - (benefit) expense 73 (4,871)    
Increase (decrease) in net charge-offs 700      
Recoveries 497 1,382    
Charge-offs 983 2,528    
Residential Portfolio Segment [Member] | U S [Member]        
Financing Receivable Allowance For Credit Losses [Line Items]        
Charge-offs 0      
Commercial Portfolio Segment [Member]        
Financing Receivable Allowance For Credit Losses [Line Items]        
Increase (decrease) in net charge-offs (600)      
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]        
Financing Receivable Allowance For Credit Losses [Line Items]        
Financing Receivable Allowance For Credit Losses 31,235 36,784 32,906 34,284
Provision for credit losses - (benefit) expense (1,650) 1,755    
Recoveries 90 1,035    
Charge-offs 118 290    
Commercial Portfolio Segment [Member] | Macroeconomic Environment [Member]        
Financing Receivable Allowance For Credit Losses [Line Items]        
Increase (decrease) in ACL 1,100      
Commercial Portfolio Segment [Member] | Construction Loans [Member]        
Financing Receivable Allowance For Credit Losses [Line Items]        
Financing Receivable Allowance For Credit Losses 3,231 1,842 2,308 4,048
Provision for credit losses - (benefit) expense 860 (2,214)    
Recoveries 63 52    
Charge-offs 0 44    
Commercial Portfolio Segment [Member] | U S [Member] | Commercial And Industrial Sector [Member]        
Financing Receivable Allowance For Credit Losses [Line Items]        
Increase (decrease) in ACL (6,100)      
Charge-offs 0      
Commercial Portfolio Segment [Member] | U S [Member] | Construction Loans [Member]        
Financing Receivable Allowance For Credit Losses [Line Items]        
Charge-offs 0      
Commercial Portfolio Segment [Member] | U S [Member] | Leisure And Entertainment Industry [Member] | Commercial And Industrial Sector [Member] | Criticized [Member]        
Financing Receivable Allowance For Credit Losses [Line Items]        
Net disbursements on loans held for investment 24,300      
Commercial Portfolio Segment [Member] | Nonaccrual loans [Member] | U S [Member] | Power And Generation Industry [Member] | Commercial And Industrial Sector [Member]        
Financing Receivable Allowance For Credit Losses [Line Items]        
Financing Receivable Allowance For Credit Losses     5,000  
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]        
Financing Receivable Allowance For Credit Losses [Line Items]        
Financing Receivable Allowance For Credit Losses 36,460 30,138 35,064 52,771
Provision for credit losses - (benefit) expense 1,246 (22,640)    
Recoveries 168 44    
Charge-offs 18 37    
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | U S [Member]        
Financing Receivable Allowance For Credit Losses [Line Items]        
Charge-offs 0      
Consumer Portfolio Segment [Member]        
Financing Receivable Allowance For Credit Losses [Line Items]        
Financing Receivable Allowance For Credit Losses 130,238 107,863 127,426 $ 103,090
Increase (decrease) in ACL (2,900)      
Provision for credit losses - (benefit) expense 15,727 10,981    
Increase (decrease) in net charge-offs (6,800)      
Recoveries 3,830 3,608    
Charge-offs 16,798 $ 9,816    
Consumer Portfolio Segment [Member] | Automobile Loan [Member]        
Financing Receivable Allowance For Credit Losses [Line Items]        
Charge-offs 4,675      
Consumer Portfolio Segment [Member] | U S [Member]        
Financing Receivable Allowance For Credit Losses [Line Items]        
Charge-offs 155      
Consumer Portfolio Segment [Member] | U S [Member] | Automobile Loan [Member]        
Financing Receivable Allowance For Credit Losses [Line Items]        
Charge-offs $ 155      
Accounting Standard Update 2022-02 [Member]        
Financing Receivable Allowance For Credit Losses [Line Items]        
Financing Receivable Allowance For Credit Losses     2,116  
Accounting Standard Update 2022-02 [Member] | Residential Portfolio Segment [Member]        
Financing Receivable Allowance For Credit Losses [Line Items]        
Financing Receivable Allowance For Credit Losses     2,056  
Accounting Standard Update 2022-02 [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]        
Financing Receivable Allowance For Credit Losses [Line Items]        
Financing Receivable Allowance For Credit Losses     7  
Accounting Standard Update 2022-02 [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member]        
Financing Receivable Allowance For Credit Losses [Line Items]        
Financing Receivable Allowance For Credit Losses     0  
Accounting Standard Update 2022-02 [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]        
Financing Receivable Allowance For Credit Losses [Line Items]        
Financing Receivable Allowance For Credit Losses     0  
Accounting Standard Update 2022-02 [Member] | Consumer Portfolio Segment [Member]        
Financing Receivable Allowance For Credit Losses [Line Items]        
Financing Receivable Allowance For Credit Losses     $ 53  
v3.23.1
OTHER REAL ESTATE OWNED- Other real estate owned (Detail) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Real Estate Properties [Line Items]    
OREO $ 32,862 $ 31,641
Residential [Member]    
Real Estate Properties [Line Items]    
OREO 24,984 24,025
Commercial [Member]    
Real Estate Properties [Line Items]    
OREO 6,114 5,852
Commercial [Member] | Construction [Member]    
Real Estate Properties [Line Items]    
OREO $ 1,764 $ 1,764
v3.23.1
OTHER REAL ESTATE OWNED- Additional information (Detail) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Real Estate Properties [Line Items]    
Foreclosures that meet the conditions of ASC Topic 310-40 $ 299,446 $ 305,633
Government Guaranteed Mortgage Loans Upon Foreclosure Receivable [Member]    
Real Estate Properties [Line Items]    
Foreclosures that meet the conditions of ASC Topic 310-40 $ 22,600 $ 23,500
v3.23.1
GOODWILL AND OTHER INTANGIBLES - Additional Information (Detail) - USD ($)
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Finite Lived Intangible Assets [Line Items]      
Goodwill $ 38,611,000   $ 38,611,000
Goodwill impairment 0    
Amortization of intangible assets $ 2,045,000 $ 2,286,000  
Change in carrying amount of goodwill   $ 0  
Goodwill Impaired Facts And Circumstances Leading To Impairment The Corporation’s policy is to assess goodwill and other intangibles for impairment on an annual basis during the fourth quarter of each year, and more frequently if events or circumstances lead management to believe that the values of goodwill or other intangibles may be impaired. During the fourth quarter of 2022, management performed a qualitative analysis over the carrying amount of each relevant reporting units’ goodwill and concluded that it is more-likely-than-not that the fair value of the reporting units exceeded their carrying value. This assessment involved identifying the inputs and assumptions that most affect fair value, including evaluating significant and relevant events impacting each reporting entity, and evaluating such factors to determine if a positive assertion can be made that it is more-likely-than-not that the fair value of the reporting units exceeded their carrying amount. As of December 31, 2022, the Corporation concluded that it is more-likely-than-not that the fair value of the reporting units exceeded their carrying value. The Corporation determined that there have been no significant events since the last annual assessment that could indicate potential goodwill impairment on reporting units for which the goodwill is allocated. As a result, no impairment charges for goodwill were recorded during the quarter ended March 31, 2023.    
Impaired Intangible Asset Description The Corporation amortizes core deposit intangibles and customer relationship intangible 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 the customer relationship intangible. The Corporation analyzes core deposit intangibles and the customer relationship intangible 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 the customer relationship intangible as of March 31, 2023.    
v3.23.1
GOODWILL AND OTHER INTANGIBLES - Gross Amount and Accumulated Amortization of Other Intangible Assets (Detail) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Finite Lived Intangible Assets [Line Items]      
Net carrying amount $ 19,073   $ 21,118
Core Deposits [Member]      
Finite Lived Intangible Assets [Line Items]      
Gross amount 87,544   87,544
Accumulated amortization (68,557)   (66,644)
Net carrying amount $ 18,987   20,900
Remaining amortization period (in years) 6 years 9 months 18 days 7 years  
Customer Relationships [Member] | Credit Card [Member]      
Finite Lived Intangible Assets [Line Items]      
Gross amount $ 3,800   3,800
Accumulated amortization (3,714)   (3,595)
Net carrying amount $ 86   205
Remaining amortization period (in years) 4 months 24 days 8 months 12 days  
Insurance Customer Relationship Intangible [Member]      
Finite Lived Intangible Assets [Line Items]      
Gross amount $ 0   1,067
Accumulated amortization 0   (1,054)
Net carrying amount $ 0   $ 13
Remaining amortization period (in years)   1 month 6 days  
v3.23.1
GOODWILL AND OTHER INTANGIBLES - Amortization Expense (Detail)
$ in Thousands
Mar. 31, 2023
USD ($)
GOODWILL AND OTHER INTANGIBLES [Abstract]  
2023 $ 5,691
2024 6,416
2025 3,509
2026 872
2027 872
2028 and after $ 1,713
v3.23.1
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS - Additional Information (Detail) - USD ($)
$ in Thousands
 1 Months Ended 3 Months Ended
Sep. 30, 2004
Apr. 30, 2004
Mar. 31, 2023
Dec. 31, 2022
Mar. 31, 2022
Dec. 31, 2021
Servicing Liabilities At Fair Value [Line Items]            
Servicing Asset at Amortized Cost     $ 28,431 $ 29,037 $ 30,753 $ 30,986
Servicing Asset At Fair Value Amount     $ 45,270 $ 44,710    
Weighted-average yield     1.23% 1.22%    
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     $ 449 $ 458    
Junior subordinated debentures     $ 183,762 $ 183,762    
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%      
Variable Rate Demand Obligation [Member] | Junior Subordinated Debt [Member]            
Servicing Liabilities At Fair Value [Line Items]            
Debt Instrument, Maturity Date, Description     The Junior Subordinated Deferrable Debentures mature on June 17, 2034, and September 20, 2034, respectively; however, under certain circumstances, the maturity of Junior Subordinated Deferrable Debentures may be shortened (such shortening would result in a mandatory redemption of the variable-rate TRuPs).      
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          
Residential MBS [Member]            
Servicing Liabilities At Fair Value [Line Items]            
Weighted-average yield     1.55% 1.52%    
Debt Securities, Available-for-sale, Allowance for Credit Loss     $ 83 $ 83    
Residential MBS [Member] | Private label [Member]            
Servicing Liabilities At Fair Value [Line Items]            
Servicing Asset at Amortized Cost     7,700      
Servicing Asset At Fair Value Amount     $ 5,400      
Residential MBS [Member] | Private label [Member] | London Interbank Offered Rate (LIBOR) [Member]            
Servicing Liabilities At Fair Value [Line Items]            
Debt Instrument Description Of Variable Rate Basis     3-month LIBOR      
GNMA [Member]            
Servicing Liabilities At Fair Value [Line Items]            
Principal amount of corporation serviced loans securitized through GNMA     $ 2,100,000      
v3.23.1
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS - Changes in Servicing Assets (Detail) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS [Abstract]    
Balance at beginning of period $ 29,037 $ 30,986
Capitalization of servicing assets 532 1,130
Amortization (1,128) (1,330)
Temporary impairment recoveries 4 55
Adjustment to servicing assets for loans repurchased (14) (88)
Balance at end of period $ 28,431 $ 30,753
v3.23.1
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS - Changes in Impairment Allowance (Detail) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS [Abstract]    
Balance at beginning of period $ 12 $ 78
Recoveries (4) (55)
Balance at end of period $ 8 $ 23
v3.23.1
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS - Components of Net Servicing Income (Detail) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS [Abstract]    
Servicing fees $ 2,718 $ 2,819
Late charges and prepayment penalties 199 194
Adjustment to servicing assets for loans repurchased (14) (88)
Servicing income, gross 2,903 2,925
Amortization and impairment of servicing assets (1,124) (1,275)
Servicing income, net $ 1,779 $ 1,650
v3.23.1
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS - Key Economic Assumptions Used in Determining Fair Value at Time of Sale of Loans (Detail)
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Weighted Average [Member] | Conventional Loan [Member]    
Assumption For Fair Value On Securitization Date Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities [Line Items]    
Constant prepayment rate 7.70% 6.60%
Discount rate 9.50% 10.00%
Weighted Average [Member] | Conventional Non Conforming Mortgage Loans [Member]    
Assumption For Fair Value On Securitization Date Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities [Line Items]    
Constant prepayment rate 5.70% 6.60%
Discount rate 12.80% 12.30%
Weighted Average [Member] | Government-guaranteed mortgage loans [Member]    
Assumption For Fair Value On Securitization Date Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities [Line Items]    
Constant prepayment rate 6.70% 6.70%
Discount rate 11.50% 12.00%
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 16.00% 18.40%
Discount rate 9.50% 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 7.00% 21.90%
Discount rate 14.00% 14.50%
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 11.60% 18.30%
Discount rate 11.50% 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 3.80% 3.40%
Discount rate 9.50% 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 2.10% 4.90%
Discount rate 11.50% 12.00%
Minimum [Member] | Government-guaranteed mortgage loans [Member]    
Assumption For Fair Value On Securitization Date Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities [Line Items]    
Constant prepayment rate 4.80% 4.80%
Discount rate 11.50% 12.00%
v3.23.1
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS - Weighted-Averages of Key Economic Assumptions in Valuation Model (Detail) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2023
Dec. 31, 2022
Mar. 31, 2022
Dec. 31, 2021
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS [Abstract]        
Carrying amount of servicing assets $ 28,431 $ 29,037 $ 30,753 $ 30,986
Fair value $ 45,270 $ 44,710    
Weighted-average expected life 7 years 9 months 18 days 7 years 9 months 18 days    
Constant prepayment rate 6.34% 6.40%    
Decrease in fair value due to 10% adverse change $ 1,040 $ 1,048    
Decrease in fair value due to 20% adverse change $ 2,036 $ 2,054    
Discount rate 10.70% 10.69%    
Decrease in fair value due to 10% adverse change $ 1,960 $ 1,925    
Decrease in fair value due to 20% adverse change $ 3,770 $ 3,704    
v3.23.1
DEPOSITS - Narratives (Detail) - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Deposits [Line Items]    
Unamortized broker placement fees $ 0.4 $ 0.3
Time deposits in denominations of $250,000 or more $ 1,100.0 $ 1,000.0
v3.23.1
DEPOSITS - Summary of Deposit Balances (Detail) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Deposits, by Type [Abstract]    
Non-interest-bearing deposit accounts $ 6,024,304 $ 6,112,884
Interest-bearing savings accounts 3,808,182 3,902,888
Interest-bearing checking accounts 3,547,963 3,770,993
Certificates of deposit ("CDs") 2,418,611 2,250,876
Brokered CDs 252,905 105,826
Total deposits $ 16,051,965 $ 16,143,467
v3.23.1
DEPOSITS - Certificates of Deposits Mature (Detail)
$ in Thousands
Mar. 31, 2023
USD ($)
DEPOSITS [Abstract]  
Three months or less $ 499,307
Over three months to six months 361,274
Over six months to one year 732,933
Over one year to two years 751,913
Over two years to three years 155,590
Over three years to four years 46,748
Over four years to five years 117,009
Over five years 6,742
Total $ 2,671,516
v3.23.1
DEPOSITS - Interest Expenses on deposits (Detail) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest Expense, Deposits [Abstract]    
Interest expense on deposits $ 29,924 $ 7,817
Accretion of premium from acquisitions (83) (200)
Amortization of broker placement fees 44 35
Total $ 29,885 $ 7,652
v3.23.1
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (REPURCHASE AGREEMENTS) - Narratives (Detail) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Dec. 31, 2022
Securities Sold Under Agreements To Repurchase And Other Short Term Borrowings [Line Items]    
Maximum aggregate balance outstanding $ 172,982 $ 75,133
Short-term Debt [Member]    
Securities Sold Under Agreements To Repurchase And Other Short Term Borrowings [Line Items]    
Assets Sold under Agreements to Repurchase, Interest Rate 5.08% 4.55%
Maximum aggregate balance outstanding $ 172,982 $ 75,133
Repayments of debt $ 75,100  
v3.23.1
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (REPURCHASE AGREEMENTS) - Securities Sold Under Agreements to Repurchase (Detail) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Assets Sold under Agreements to Repurchase [Line Items]    
Repurchase agreements $ 172,982 $ 75,133
Short-term Debt [Member]    
Assets Sold under Agreements to Repurchase [Line Items]    
Repurchase agreements $ 172,982 $ 75,133
v3.23.1
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (REPURCHASE AGREEMETNS) - Securities Sold Under Agreements to Repurchase (Parenthetical) (Detail)
Mar. 31, 2023
Dec. 31, 2022
Short-term Debt [Member]    
Assets Sold under Agreements to Repurchase [Line Items]    
Weighted-average interest rates on repurchase agreements 5.08% 4.55%
v3.23.1
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (REPURCHASE AGREEMENTS) - Schedule of Repurchase Agreement Maturity (Detail) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Assets Sold under Agreements to Repurchase [Line Items]    
Short-term securities sold under agreements to repurchase $ 172,982 $ 75,133
Short-term Debt [Member]    
Assets Sold under Agreements to Repurchase [Line Items]    
Short-term securities sold under agreements to repurchase 172,982 $ 75,133
Within one month | Short-term Debt [Member]    
Assets Sold under Agreements to Repurchase [Line Items]    
Short-term securities sold under agreements to repurchase $ 172,982  
v3.23.1
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE REPURCHASE AGREEMENTS) - Repurchase Agreements Grouped by Counterparty (Detail) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Dec. 31, 2022
Repurchase Agreement Counterparty [Line Items]    
Repurchase agreements $ 172,982 $ 75,133
Jp Morgan Chase [Member]    
Repurchase Agreement Counterparty [Line Items]    
Repurchase agreements $ 172,982  
Weighted-Average Maturity 1 month  
v3.23.1
ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) - Summary of Advances from FHLB (Detail) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Federal Home Loan Bank, Advances [Line Items]    
Fixed-rate advances from FHLB $ 925,000 $ 675,000
Short-term Debt [Member]    
Federal Home Loan Bank, Advances [Line Items]    
Fixed-rate advances from FHLB 425,000 475,000
Long-term Debt [Member]    
Federal Home Loan Bank, Advances [Line Items]    
Fixed-rate advances from FHLB $ 500,000 $ 200,000
v3.23.1
ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) - Summary of Advances from FHLB (Parenthetical) (Detail)
Mar. 31, 2023
Dec. 31, 2022
Short-term Debt [Member]    
Federal Home Loan Bank, Advances [Line Items]    
Weighted-interest rate 5.04% 4.56%
Federal Home Loan Bank, Advance, Branch of FHLB Bank, Interest Rate, Type [Fixed List] Fixed  
Long-term Debt [Member]    
Federal Home Loan Bank, Advances [Line Items]    
Weighted-interest rate 4.45% 4.25%
Federal Home Loan Bank, Advance, Branch of FHLB Bank, Interest Rate, Type [Fixed List] Fixed Fixed
v3.23.1
ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) - Advances from FHLB Mature (Detail) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) [Abstract]    
Within one month $ 425,000  
Over one to five years 500,000  
Total $ 925,000 $ 675,000
v3.23.1
ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) - Additional Information (Detail) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Dec. 31, 2022
Federal Home Loan Bank, Advances [Line Items]    
Fixed-rate advances from FHLB $ 925,000 $ 675,000
Loans held for investment 11,577,985 $ 11,552,825
Federal Home Loan Bank Advances [Member]    
Federal Home Loan Bank, Advances [Line Items]    
Federal Home Loan Bank Advances 425,000  
Payments For Federal Home Loan Bank Advances $ 475,000  
Fixed-rate advances from FHLB, interest rate 5.04% 4.56%
Short-term Debt [Member]    
Federal Home Loan Bank, Advances [Line Items]    
Fixed-rate advances from FHLB $ 425,000 $ 475,000
Long-term Debt [Member]    
Federal Home Loan Bank, Advances [Line Items]    
Fixed-rate advances from FHLB 500,000 $ 200,000
Federal Home Loan Bank Advances [Member]    
Federal Home Loan Bank, Advances [Line Items]    
Federal Home Loan Bank Advances $ 300,000  
Fixed-rate advances from FHLB, interest rate 4.59%  
v3.23.1
OTHER BORROWINGS - Components of Other Borrowings (Detail) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Subordinated Borrowing [Line Items]    
Junior subordinated debentures $ 183,762 $ 183,762
due June 17, 2034 [Member] | Statutory Trust One [Member]    
Subordinated Borrowing [Line Items]    
Junior subordinated debentures 65,205 65,205
due September 20, 2034 [Member] | Statutory Trust Two [Member]    
Subordinated Borrowing [Line Items]    
Junior subordinated debentures $ 118,557 $ 118,557
v3.23.1
OTHER BORROWINGS - Components of Other Borrowings (Parenthetical) (Detail) - Junior Subordinated Debt [Member] - London Interbank Offered Rate (LIBOR) [Member]
 3 Months Ended
Mar. 31, 2023
Dec. 31, 2022
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 7.66% 7.49%
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 7.46% 7.25%
v3.23.1
OTHER BORROWINGS - Additional Information (Detail) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Short Term Debt [Line Items]    
Loans held for investment $ 11,577,985 $ 11,552,825
v3.23.1
EARNINGS PER COMMON SHARE - Calculations of Earnings Per Common Share (Detail) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Net income:    
Net income attributable to common stockholders $ 70,698 $ 82,600
Weighted-Average Shares:    
Average common shares outstanding 180,215 198,130
Average potential dilutive common shares 1,021 1,407
Average common shares outstanding - assuming dilution 181,236 199,537
Earnings per common share:    
Basic $ 0.39 $ 0.42
Diluted $ 0.39 $ 0.41
v3.23.1
EARNINGS PER COMMON SHARE - Additional Information (Detail) - shares
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
EARNINGS PER COMMON SHARE [Abstract]    
Antidilutive shares of common stock 0 0
v3.23.1
STOCK-BASED COMPENSATION - Omnibus Plan - Additional Information (Detail) - Omnibus Plan [Member]
Mar. 31, 2023
shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Authorized granting up shares 14,169,807
Restricted stock available for issuance 3,142,813
v3.23.1
STOCK-BASED COMPENSATION - Restricted Stock - Additional Information (Detail) - Omnibus Plan [Member] - Restricted Stock [Member] - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]    
Granted performance units 495,891 299,440
Stock-based compensation expense $ 1.6 $ 0.9
Unrecognized compensation cost related to unvested shares $ 7.8  
Period for cost recognition not yet recognized 2 years 1 month 6 days  
Director [Member]    
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]    
Granted performance units 3,502 3,048
Restricted stock vesting period 1 year  
Management [Member]    
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]    
Granted performance units 492,389 296,392
Retirement Eligible Shares 33,718 6,084
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 period 2 years  
Restricted stock vesting percentage 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 period 3 years  
Restricted stock vesting percentage 50.00%  
v3.23.1
STOCK-BASED COMPENSATION - Restricted Stock Activity Under Omnibus Plan (Detail) - Omnibus Plan [Member] - Restricted Stock [Member] - $ / shares
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]    
Unvested shares outstanding, beginning of period 938,491 1,148,775
Granted shares 495,891 299,440
Forfeited (25,415) (3,092)
Vested (481,536) (487,198)
Unvested shares of outstanding, end of period 927,431 957,925
Weighted-Average Grant Date Fair Value, beginning of period $ 9.14 $ 6.61
Weighted-Average Grant Date Fair Value, Granted 11.99 13.15
Weighted-Averages Grant Date Fair Value, Forfeited 9.98 6.69
Weighted-Average Grant Date Fair Value, Vested 5.93 5.72
Weighted-Average Grant Date Fair Value, end of period $ 12.32 $ 9.10
v3.23.1
STOCK-BASED COMPENSATION - Restricted Stock Activity Under Omnibus Plan (Parenthetical) (Detail) - Omnibus Plan [Member] - Restricted Stock [Member] - shares
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]    
Granted performance units 495,891 299,440
Director [Member]    
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]    
Granted performance units 3,502 3,048
Management [Member]    
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]    
Granted performance units 492,389 296,392
Retirement Eligible Shares 33,718 6,084
v3.23.1
STOCK-BASED COMPENSATION - Performance Units - Additional Information (Detail) - Omnibus Plan [Member] - Performance Shares [member] - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]    
Granted performance units 216,876 166,669
Performance units program description On March 16, 2023, the Corporation granted 216,876 performance units to executives. Performance units granted on or after March 16, 2023 will vest on the third anniversary of the effective date of the award based on actual achievement of two performance metrics weighted equally: relative total shareholder return (“Relative TSR”), compared to companies that comprise the KBW Nasdaq Regional Banking Index, and the achievement of a tangible book value per share (“TBVPS”) goal, which is measured based upon the growth in the tangible book value during the performance cycle, adjusted for certain allowable non-recurring transactions. The participant may earn 50% of their target opportunity for threshold-level performance and up to 150% of their target opportunity for maximum-level performance, based on the achievement of the performance goals during a three-year performance cycle. Amounts between threshold, target and maximum performance will vest on a proportional amount. Performance units granted prior to March 16, 2023 vest subject only to achievement of a TBVPS goal. In addition, the participant may earn only up to 100% of their target opportunity.  
Stock-based compensation expense $ 0.5 $ 0.3
Unrecognized compensation cost related to unvested performance units $ 4.7  
Period for cost recognition not yet recognized 2 years 4 months 24 days  
Fair Value assumptions method used The fair value of the performance units awarded during the quarter ended March 31, 2023 and 2022, that was based on the TBVPS goal component, was calculated based on the market price of the Corporation’s common stock on the respective date of the grant and assuming attainment of 100% of target opportunity. As of March 31, 2023, there have been no changes on management’s assessment of the probability that the pre-established TBVPS goal will be achieved; as such, no cumulative adjustment to compensation expense has been recognized. The fair value of the performance units awarded during the quarter ended March 31, 2023, that was based on the Relative TSR component, was calculated using a Monte Carlo simulation. Since the Relative TSR component is considered a market condition, the fair value of the portion of the award based on Relative TSR is not revised subsequent to grant date based on actual performance.  
Minimum [Member]    
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]    
Vesting right percentage 50.00%  
Maximum [Member]    
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]    
Vesting right percentage 150.00% 100.00%
Executives [Member]    
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]    
Performance units program description These awards, which are granted to executives, do not contain non-forfeitable rights to dividend equivalent amounts and can only be settled in shares of the Corporation’s common stock.  
v3.23.1
STOCK-BASED COMPENSATION - Performance Units - Performance Unit Activity (Detail) - Omnibus Plan [Member] - Performance Shares [member] - $ / shares
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]    
Unvested shares outstanding, beginning of period 791,923 814,899
Granted performance units 216,876 166,669
Vested (474,538) (189,645)
Unvested shares of outstanding, end of period 534,261 791,923
Weighted-Average Grant Date Fair Value, beginning of period $ 7.36 $ 7.06
Additions 12.24 13.15
Vested 4.08 11.16
Weighted-Average Grant Date Fair Value, end of period $ 12.25 $ 7.36
v3.23.1
STOCK-BASED COMPENSATION - Summary of Valuation Assumptions (Detail) - Omnibus Plan [Member] - Performance Shares [member]
 3 Months Ended
Mar. 31, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Risk-free interest rate 3.98%
Correlation coefficient 77.16
Expected dividend yield 0.00%
Expected volatility 41.37%
Expected life (n years) 2 years 9 months 14 days
v3.23.1
STOCK-BASED COMPENSATION - Treasury Stock - Additional Information (Detail) - shares
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]    
Shares Withheld for Tax Withholding Obligation 287,835 201,930
Omnibus Plan [Member] | Restricted Stock [Member]    
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]    
Shares Withheld for Tax Withholding Obligation 287,835 201,930
v3.23.1
STOCKHOLDERS' EQUITY - Additional Information (Detail) - USD ($)
 3 Months Ended
Apr. 27, 2023
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Apr. 27, 2022
Dec. 31, 2021
Apr. 26, 2021
Class Of Stock [Line Items]              
Dividends declared per common share   $ 0.14 $ 0.10        
Preferred Stock Shares Authorized   50,000,000          
Preferred stock, par value   $ 1.00          
Treasury Stock Shares Acquired   3,865,375 3,611,627        
Treasury Stock Shares   43,874,418 24,962,245 40,954,057   21,836,611  
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   $ 0          
Legal Surplus Amount   $ 168,484,000   $ 168,484,000      
Stock Repurchase Program Authorized Amount 1         $ 350,000,000    
Preferred Stock Shares Outstanding   0          
Stock Issued During Period Shares Treasury Stock Reissued   970,429 489,085        
Shares Paid For Tax Withholding For Share Based Compensation   287,835 201,930        
Dividends paid on common stock   $ 25,400,000 $ 19,900,000        
New Stock Repurchase Program [Member]              
Class Of Stock [Line Items]              
Treasury Stock Shares Acquired   3,577,540          
Common stock repurchased price per share   $ 13.98          
Stock Repurchase Program Remaining Authorized Repurchase Amount 1   $ 75,000,000          
Common stock repurchase value   $ 50,000,000          
Previous Stock Repurchase Program [Member]              
Class Of Stock [Line Items]              
Treasury Stock Shares Acquired     3,409,697        
Common stock repurchased price per share     $ 14.66        
Stock Repurchase Program Authorized Amount 1             $ 300,000,000
Common stock repurchase value     $ 50,000,000        
Subsequent Event [Member]              
Class Of Stock [Line Items]              
Dividend Payable Date To Be Paid Day Month And Year Jun. 09, 2023            
Dividends Payable Date Of Record Day Month And Year May 24, 2023            
Dividends Payable Date Declared Day Month And Year Apr. 27, 2023            
Subsequent Event [Member] | Common Stock Outstanding [Member]              
Class Of Stock [Line Items]              
Dividends declared per common share $ 0.14            
v3.23.1
STOCKHOLDERS' EQUITY - Common Stock (Detail) - shares
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Class Of Stock [Line Items]    
Common stock outstanding, beginning balances 182,709,059 201,826,505
Common stock repurchased (3,865,375) (3,611,627)
Common stock reissued under stock-based compensation plan 970,429 489,085
Restricted stock forfeited (25,415) (3,092)
Common stock outstanding, ending balances 179,788,698 198,700,871
v3.23.1
STOCKHOLDERS' EQUITY - Common Stock (Parenthetical) (Detail) - shares
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Class Of Stock [Line Items]    
Shares Withheld for Tax Withholding Obligation 287,835 201,930
v3.23.1
STOCKHOLDERS' EQUITY - Treasury Shares (Detail) - shares
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
STOCKHOLDERS' EQUITY [Abstract]    
Treasury stock, beginning balances 40,954,057 21,836,611
Common stock repurchased 3,865,375 3,611,627
Common stock reissued under stock-based compensation plan (970,429) (489,085)
Restricted stock forfeited 25,415 3,092
Treasury stock, ending balances 43,874,418 24,962,245
v3.23.1
STOCKHOLDERS' EQUITY - Treasury Shares (Parenthetical) (Detail) - shares
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
STOCKHOLDERS' EQUITY [Abstract]    
Shares Withheld for Tax Withholding Obligation 287,835 201,930
v3.23.1
ACCUMULATED OTHER COMPREHENSIVE LOSS - Change in Accumulated Other Comprehensive Loss by Component (Detail) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Beginning balance $ (805,972) $ (87,390)
Other comprehensive gain (loss) 87,228 (331,834)
Ending balance (718,744) (419,224)
Beginning balance 1,194 3,391
Other comprehensive gain (loss) 0 0
Ending balance $ 1,194 $ 3,391
v3.23.1
EMPLOYEE BENEFIT PLANS - Components of Net Periodic Benefit (Detail) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Net periodic cost (benefit):    
Net periodic benefit (income) loss $ 70 $ (384)
Pension Plan [Member]    
Net periodic cost (benefit):    
Net periodic benefit (income) loss 64 (385)
Pension Plan [Member] | Other Expenses [Member]    
Net periodic cost (benefit):    
Interest cost 950 654
Expected return on plan assets (886) (1,039)
Postretirement Benefit Plan [Member] | Other Expenses [Member]    
Net periodic cost (benefit):    
Net periodic benefit (income) loss $ 6 $ 1
v3.23.1
INCOME TAXES - Additional Information (Detail) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Sep. 01, 2020
Income Tax Contingency [Line Items]        
Maximum corporate tax rate 37.50%      
Income tax expense $ 31,935 $ 43,025    
Minimum percentage of bank net taxable income for paying income tax at normal rate 20.00%      
Estimated annual effective tax rate, including all entities 31.20% 32.90%    
Santander [Member]        
Income Tax Contingency [Line Items]        
UTBs       $ 1,000
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense $ 200      
U S [Member]        
Income Tax Contingency [Line Items]        
Income tax expense 2,500 $ 1,600    
Subsidiaries [Member]        
Income Tax Contingency [Line Items]        
Net deferred tax asset 154,800   $ 155,600  
Valuation allowance 139,100   $ 149,500  
Parent Company [Member]        
Income Tax Contingency [Line Items]        
Income tax expense $ 1,078 $ 1,106    
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%      
v3.23.1
INCOME TAXES- Components of income tax expense (Detail) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Deferred income tax expense:    
Total income tax expense $ 31,935 $ 43,025
v3.23.1
INCOME TAXES- Reconciliations of Income tax expenses (Detail) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract]    
Total income tax expense $ 31,935 $ 43,025
Computed income tax at statutory tax rate % 37.50%  
v3.23.1
FAIR VALUE - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Assets Fair Value Disclosure [Abstract]    
Debt Securities, Available-for-sale $ 5,589,256 $ 5,599,520
Residential Mortgage Backed Securities [Member]    
Assets Fair Value Disclosure [Abstract]    
Debt Securities, Available-for-sale 2,896,655 2,941,458
MBS [Member]    
Assets Fair Value Disclosure [Abstract]    
Debt Securities, Available-for-sale 3,055,421 3,104,591
Fair Value, Measurements, Recurring [Member]    
Assets Fair Value Disclosure [Abstract]    
Equity Securities, FV-NI 4,926 4,861
Derivative Assets 628 633
Derivative Liabilities [Abstract]    
Derivative Liabilities 645 476
Fair Value, Measurements, Recurring [Member] | U S Treasury Securities [Member]    
Assets Fair Value Disclosure [Abstract]    
Debt Securities, Available-for-sale 140,422 138,875
Fair Value, Measurements, Recurring [Member] | Government Agencies Debt Securities [Member] | Noncallable [Member]    
Assets Fair Value Disclosure [Abstract]    
Debt Securities, Available-for-sale 428,675 389,787
Fair Value, Measurements, Recurring [Member] | Government Agencies Debt Securities [Member] | Call Option [Member]    
Assets Fair Value Disclosure [Abstract]    
Debt Securities, Available-for-sale 1,962,535 1,963,566
Fair Value, Measurements, Recurring [Member] | MBS [Member]    
Assets Fair Value Disclosure [Abstract]    
Debt Securities, Available-for-sale 3,055,421 3,104,591
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member]    
Assets Fair Value Disclosure [Abstract]    
Debt Securities, Available-for-sale 2,203 2,201
Fair Value, Measurements, Recurring [Member] | Other Debt Obligations [Member]    
Assets Fair Value Disclosure [Abstract]    
Debt Securities, Available-for-sale 0 500
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member]    
Assets Fair Value Disclosure [Abstract]    
Equity Securities, FV-NI 4,926 4,861
Derivative Assets 0 0
Derivative Liabilities [Abstract]    
Derivative Liabilities 0 0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | U S Treasury Securities [Member]    
Assets Fair Value Disclosure [Abstract]    
Debt Securities, Available-for-sale 140,422 138,875
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Government Agencies Debt Securities [Member] | Noncallable [Member]    
Assets Fair Value Disclosure [Abstract]    
Debt Securities, Available-for-sale 0 0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Government Agencies Debt Securities [Member] | Call Option [Member]    
Assets Fair Value Disclosure [Abstract]    
Debt Securities, Available-for-sale 0 0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | MBS [Member]    
Assets Fair Value Disclosure [Abstract]    
Debt Securities, Available-for-sale 0 0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | US States and Political Subdivisions Debt Securities [Member]    
Assets Fair Value Disclosure [Abstract]    
Debt Securities, Available-for-sale 0 0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Other Debt Obligations [Member]    
Assets Fair Value Disclosure [Abstract]    
Debt Securities, Available-for-sale 0 0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member]    
Assets Fair Value Disclosure [Abstract]    
Equity Securities, FV-NI 0 0
Derivative Assets 628 633
Derivative Liabilities [Abstract]    
Derivative Liabilities 645 476
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | U S Treasury Securities [Member]    
Assets Fair Value Disclosure [Abstract]    
Debt Securities, Available-for-sale 0 0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Government Agencies Debt Securities [Member] | Noncallable [Member]    
Assets Fair Value Disclosure [Abstract]    
Debt Securities, Available-for-sale 428,675 389,787
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Government Agencies Debt Securities [Member] | Call Option [Member]    
Assets Fair Value Disclosure [Abstract]    
Debt Securities, Available-for-sale 1,962,535 1,963,566
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | MBS [Member]    
Assets Fair Value Disclosure [Abstract]    
Debt Securities, Available-for-sale 3,050,019 3,098,797
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member]    
Assets Fair Value Disclosure [Abstract]    
Debt Securities, Available-for-sale 0 0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Other Debt Obligations [Member]    
Assets Fair Value Disclosure [Abstract]    
Debt Securities, Available-for-sale 0 0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member]    
Assets Fair Value Disclosure [Abstract]    
Equity Securities, FV-NI 0 0
Derivative Assets 0 0
Derivative Liabilities [Abstract]    
Derivative Liabilities 0 0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | U S Treasury Securities [Member]    
Assets Fair Value Disclosure [Abstract]    
Debt Securities, Available-for-sale 0 0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Government Agencies Debt Securities [Member] | Noncallable [Member]    
Assets Fair Value Disclosure [Abstract]    
Debt Securities, Available-for-sale 0 0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Government Agencies Debt Securities [Member] | Call Option [Member]    
Assets Fair Value Disclosure [Abstract]    
Debt Securities, Available-for-sale 0 0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | MBS [Member]    
Assets Fair Value Disclosure [Abstract]    
Debt Securities, Available-for-sale 5,402 5,794
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | US States and Political Subdivisions Debt Securities [Member]    
Assets Fair Value Disclosure [Abstract]    
Debt Securities, Available-for-sale 2,203 2,201
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Other Debt Obligations [Member]    
Assets Fair Value Disclosure [Abstract]    
Debt Securities, Available-for-sale $ 0 $ 500
v3.23.1
FAIR VALUE - Fair Value of Assets and Liabilities Measured on Recurring Basis (Detail) - Available-for-sale Securities [Member] - Fair Value Inputs Level 3 [Member] - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]    
Beginning balance $ 8,495 $ 11,084
Total gains or (losses) (realized/unrealized):    
Included in other comprehensive income (unrealized) (162) (287)
Included in earnings (unrealized) 9 388
Principal repayments and amortization (737) (538)
Ending balance $ 7,605 $ 10,647
v3.23.1
FAIR VALUE - Fair Value of Assets and Liabilities Measured on Recurring Basis (Parenthetical) (Detail) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]    
Proceeds from principal repayments and maturities of available-for-sale debt securities $ 113,218 $ 208,397
Other Debt Obligations [Member]    
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]    
Proceeds from principal repayments and maturities of available-for-sale debt securities $ 500  
v3.23.1
FAIR VALUE - Assets and Liabilities Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3) (Detail)
$ in Thousands
Mar. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Available For Sale Securities [Abstract]    
Debt Securities, Available-for-sale $ 5,589,256 $ 5,599,520
Fair Value, Measurements, Recurring [Member] | Puerto Rico government obligations [Member]    
Available For Sale Securities [Abstract]    
Debt Securities, Available-for-sale 2,203 2,201
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Private label [Member] | Valuation Technique, Discounted Cash Flow [Member]    
Available For Sale Securities [Abstract]    
Debt Securities, Available-for-sale 5,402 5,794
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Puerto Rico government obligations [Member]    
Available For Sale Securities [Abstract]    
Debt Securities, Available-for-sale 2,203 2,201
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Puerto Rico government obligations [Member] | Valuation Technique, Discounted Cash Flow [Member]    
Available For Sale Securities [Abstract]    
Debt Securities, Available-for-sale $ 2,203 $ 2,201
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Minimum [Member] | Private label [Member] | Measurement Input, Discount Rate [Member]    
Available For Sale Securities [Abstract]    
Debt Securities, Available-for-sale, Measurement Input 0.160 0.162
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Minimum [Member] | Private label [Member] | Measurement Input, Constant Prepayment Rate [Member]    
Available For Sale Securities [Abstract]    
Debt Securities, Available-for-sale, Measurement Input 0.016 0.015
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Minimum [Member] | Private label [Member] | Measurement Input, Loss Severity [Member]    
Available For Sale Securities [Abstract]    
Debt Securities, Available-for-sale, Measurement Input 0.002 0.003
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Minimum [Member] | Puerto Rico government obligations [Member] | Measurement Input, Discount Rate [Member]    
Available For Sale Securities [Abstract]    
Debt Securities, Available-for-sale, Measurement Input 0.128 0.129
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Minimum [Member] | Puerto Rico government obligations [Member] | Measurement Input, Loss Severity [Member]    
Available For Sale Securities [Abstract]    
Debt Securities, Available-for-sale, Measurement Input 0.190 0.193
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Maximum [Member] | Private label [Member] | Measurement Input, Discount Rate [Member]    
Available For Sale Securities [Abstract]    
Debt Securities, Available-for-sale, Measurement Input 0.160 0.162
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Maximum [Member] | Private label [Member] | Measurement Input, Constant Prepayment Rate [Member]    
Available For Sale Securities [Abstract]    
Debt Securities, Available-for-sale, Measurement Input 0.126 0.152
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Maximum [Member] | Private label [Member] | Measurement Input, Loss Severity [Member]    
Available For Sale Securities [Abstract]    
Debt Securities, Available-for-sale, Measurement Input 0.149 0.156
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Maximum [Member] | Puerto Rico government obligations [Member] | Measurement Input, Discount Rate [Member]    
Available For Sale Securities [Abstract]    
Debt Securities, Available-for-sale, Measurement Input 0.128 0.129
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Maximum [Member] | Puerto Rico government obligations [Member] | Measurement Input, Loss Severity [Member]    
Available For Sale Securities [Abstract]    
Debt Securities, Available-for-sale, Measurement Input 0.190 0.193
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Weighted Average [Member] | Private label [Member] | Measurement Input, Discount Rate [Member]    
Available For Sale Securities [Abstract]    
Debt Securities, Available-for-sale, Measurement Input 0.160 0.162
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Weighted Average [Member] | Private label [Member] | Measurement Input, Constant Prepayment Rate [Member]    
Available For Sale Securities [Abstract]    
Debt Securities, Available-for-sale, Measurement Input 0.092 0.118
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Weighted Average [Member] | Private label [Member] | Measurement Input, Loss Severity [Member]    
Available For Sale Securities [Abstract]    
Debt Securities, Available-for-sale, Measurement Input 0.052 0.056
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Weighted Average [Member] | Puerto Rico government obligations [Member] | Measurement Input, Discount Rate [Member]    
Available For Sale Securities [Abstract]    
Debt Securities, Available-for-sale, Measurement Input 0.128 0.129
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Weighted Average [Member] | Puerto Rico government obligations [Member] | Measurement Input, Loss Severity [Member]    
Available For Sale Securities [Abstract]    
Debt Securities, Available-for-sale, Measurement Input 0.190 0.193
v3.23.1
FAIR VALUE - Change in unrealized losses included in earnings (Detail) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Available-for-sale Securities [Member] | Fair Value Inputs Level 3 [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 $ (9) $ (388)
v3.23.1
FAIR VALUE - Impairment of Valuation Adjustments were Recorded for Assets Recognized at Fair Value (Detail) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]      
Mortgage servicing rights $ 45,270   $ 44,710
Fair Value Measurements Nonrecurring [Member] | Fair Value Inputs Level 3 [Member] | OREO [Member]      
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]      
Carrying value, Related to gains (losses) recorded 814 $ 1,432  
Included in earnings (33) (73)  
Fair Value Measurements Nonrecurring [Member] | Fair Value Inputs Level 3 [Member] | Loans Receivable [Member]      
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]      
Carrying value, Related to gains (losses) recorded 3,486 25,951  
Included in earnings $ (60) $ (3,539)  
v3.23.1
FAIR VALUE - Fair Value (Detail) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Mar. 31, 2022
Dec. 31, 2021
Assets:        
Investment securities available for sale $ 5,589,256 $ 5,599,520    
Held To Maturity Securities Amortized 431,395 437,537    
Less: allowance for credit losses on held to maturity securities (7,646) (8,286)    
Investment securities held to maturity, net of ACL 423,749 429,251    
ACL for loans and finance leases (265,567) (260,464) $ (245,447) $ (269,030)
Loans held for investment, net of ACL 11,312,418 11,292,361    
Mortgage servicing rights 28,431 29,037 $ 30,753 $ 30,986
Advances from the FHLB:        
Short-term 425,000 475,000    
Long-term 500,000 200,000    
Other long-term borrowings 183,762 183,762    
Carrying Reported Amount Fair Value Disclosure [Member]        
Assets:        
Cash and due from banks and money market investments 823,601 480,505    
Investment securities available for sale 5,589,256 5,599,520    
Held To Maturity Securities Amortized 431,395 437,537    
Less: allowance for credit losses on held to maturity securities (7,646) (8,286)    
Investment securities held to maturity, net of ACL 423,749 429,251    
Equity Securities 61,788 50,428    
Other investment securities 4,926 4,861    
Loans held for sale 15,183 12,306    
Total gross loans held for investment portfolio 11,577,985 11,552,825    
ACL for loans and finance leases (265,567) (260,464)    
Loans held for investment, net of ACL 11,312,418 11,292,361    
Mortgage servicing rights 28,431 29,037    
Derivative Assets 628 633    
Financial Instruments Financial Liabilities Balance Sheet Groupings [Abstract]        
Deposits 16,051,965 16,143,467    
Short-term securities sold under agreements to repurchase (amortized cost) 172,982 75,133    
Advances from the FHLB:        
Short-term 425,000 475,000    
Long-term 500,000 200,000    
Other long-term borrowings 183,762 183,762    
Derivative Liabilities 645 476    
Federal Home Loan Bank Stock 54,200 42,900    
Estimate Of Fair Value Fair Value Disclosure [Member]        
Assets:        
Cash and due from banks and money market investments 823,601 480,505    
Investment securities available for sale 5,589,256 5,599,520    
Investment securities held to maturity, net of ACL 419,752 427,115    
Equity Securities 61,788 50,428    
Other investment securities 4,926 4,861    
Loans held for sale 15,214 12,306    
Loans held for investment, net of ACL 11,030,421 11,106,809    
Mortgage servicing rights 45,270 44,710    
Derivative Assets 628 633    
Financial Instruments Financial Liabilities Balance Sheet Groupings [Abstract]        
Deposits 16,039,550 16,139,937    
Short-term securities sold under agreements to repurchase (amortized cost) 173,936 75,230    
Advances from the FHLB:        
Short-term 426,665 474,731    
Long-term 501,990 199,865    
Other long-term borrowings 187,183 187,246    
Derivative Liabilities 645 476    
Estimate Of Fair Value Fair Value Disclosure [Member] | Fair Value Inputs Level 1 [Member]        
Assets:        
Cash and due from banks and money market investments 823,601 480,505    
Investment securities available for sale 140,422 138,875    
Investment securities held to maturity, net of ACL 0 0    
Equity Securities 0 0    
Other investment securities 4,926 4,861    
Loans held for sale 0 0    
Loans held for investment, net of ACL 0 0    
Mortgage servicing rights 0 0    
Derivative Assets 0 0    
Financial Instruments Financial Liabilities Balance Sheet Groupings [Abstract]        
Deposits 0 0    
Short-term securities sold under agreements to repurchase (amortized cost) 0 0    
Advances from the FHLB:        
Short-term 0 0    
Long-term 0 0    
Other long-term borrowings 0 0    
Derivative Liabilities 0 0    
Estimate Of Fair Value Fair Value Disclosure [Member] | Fair Value Inputs Level 2 [Member]        
Assets:        
Cash and due from banks and money market investments 0 0    
Investment securities available for sale 5,441,229 5,452,150    
Investment securities held to maturity, net of ACL 255,209 260,106    
Equity Securities 61,788 50,428    
Other investment securities 0 0    
Loans held for sale 15,214 12,306    
Loans held for investment, net of ACL 0 0    
Mortgage servicing rights 0 0    
Derivative Assets 628 633    
Financial Instruments Financial Liabilities Balance Sheet Groupings [Abstract]        
Deposits 16,039,550 16,139,937    
Short-term securities sold under agreements to repurchase (amortized cost) 173,936 75,230    
Advances from the FHLB:        
Short-term 426,665 474,731    
Long-term 501,990 199,865    
Other long-term borrowings 0 0    
Derivative Liabilities 645 476    
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 7,605 8,495    
Investment securities held to maturity, net of ACL 164,543 167,009    
Equity Securities 0 0    
Other investment securities 0 0    
Loans held for sale 0 0    
Loans held for investment, net of ACL 11,030,421 11,106,809    
Mortgage servicing rights 45,270 44,710    
Derivative Assets 0 0    
Financial Instruments Financial Liabilities Balance Sheet Groupings [Abstract]        
Deposits 0 0    
Short-term securities sold under agreements to repurchase (amortized cost) 0 0    
Advances from the FHLB:        
Short-term 0 0    
Long-term 0 0    
Other long-term borrowings 187,183 187,246    
Derivative Liabilities $ 0 $ 0    
v3.23.1
REVENUE FROM CONTRACTS WITH CUSTOMERS - Disaggregation of Revenue (Detail) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Disaggregation Of Revenue [Line Items]    
Net interest income $ 200,885 $ 185,624
Noninterest Income 32,518 32,858
Total Revenues 233,403 218,482
Other non-interest income 4,400 3,333
Service charges and fees on deposit accounts [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 9,541 9,363
Insurance commissions [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 4,847 5,275
Merchant-related income [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 2,760 2,589
Credit and debit card fees [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 8,158 7,090
Other service charges and fees [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 3,094 3,022
Not inscope of Topic 606 [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 4,118 5,519
Mortgage Banking Segment [Member]    
Disaggregation Of Revenue [Line Items]    
Net interest income 21,788 25,779
Noninterest Income 3,074 5,252
Total Revenues 24,862 31,031
Mortgage Banking Segment [Member] | Service charges and fees on deposit accounts [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 0 0
Mortgage Banking Segment [Member] | Insurance commissions [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 0 0
Mortgage Banking Segment [Member] | Merchant-related income [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 0 0
Mortgage Banking Segment [Member] | Credit and debit card fees [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 0 0
Mortgage Banking Segment [Member] | Other service charges and fees [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 161 143
Mortgage Banking Segment [Member] | Not inscope of Topic 606 [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 2,913 5,109
Consumer Retail Banking Segment [Member]    
Disaggregation Of Revenue [Line Items]    
Net interest income 137,744 89,546
Noninterest Income 22,034 20,463
Total Revenues 159,778 110,009
Consumer Retail Banking Segment [Member] | Service charges and fees on deposit accounts [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 5,486 5,539
Consumer Retail Banking Segment [Member] | Insurance commissions [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 4,640 4,967
Consumer Retail Banking Segment [Member] | Merchant-related income [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 2,263 1,822
Consumer Retail Banking Segment [Member] | Credit and debit card fees [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 7,638 6,671
Consumer Retail Banking Segment [Member] | Other service charges and fees [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 1,152 1,110
Consumer Retail Banking Segment [Member] | Not inscope of Topic 606 [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 855 354
Commercial And Corporate Segment [Member]    
Disaggregation Of Revenue [Line Items]    
Net interest income 14,940 40,415
Noninterest Income 4,175 4,554
Total Revenues 19,115 44,969
Commercial And Corporate Segment [Member] | Service charges and fees on deposit accounts [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 3,154 2,976
Commercial And Corporate Segment [Member] | Insurance commissions [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 0 0
Commercial And Corporate Segment [Member] | Merchant-related income [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 0 373
Commercial And Corporate Segment [Member] | Credit and debit card fees [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 22 16
Commercial And Corporate Segment [Member] | Other service charges and fees [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 854 1,113
Commercial And Corporate Segment [Member] | Not inscope of Topic 606 [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 145 76
Treasury And Investments Segment [Member]    
Disaggregation Of Revenue [Line Items]    
Net interest income (658) 7,409
Noninterest Income 160 (112)
Total Revenues (498) 7,297
Treasury And Investments Segment [Member] | Service charges and fees on deposit accounts [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 0 0
Treasury And Investments Segment [Member] | Insurance commissions [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 0 0
Treasury And Investments Segment [Member] | Merchant-related income [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 0 0
Treasury And Investments Segment [Member] | Credit and debit card fees [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 0 0
Treasury And Investments Segment [Member] | Other service charges and fees [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 0 0
Treasury And Investments Segment [Member] | Not inscope of Topic 606 [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 160 (112)
United States Operations Segment [Member]    
Disaggregation Of Revenue [Line Items]    
Net interest income 20,930 16,482
Noninterest Income 847 744
Total Revenues 21,777 17,226
United States Operations Segment [Member] | Service charges and fees on deposit accounts [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 165 138
United States Operations Segment [Member] | Insurance commissions [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 28 29
United States Operations Segment [Member] | Merchant-related income [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 29 5
United States Operations Segment [Member] | Credit and debit card fees [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 2 (7)
United States Operations Segment [Member] | Other service charges and fees [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 583 499
United States Operations Segment [Member] | Not inscope of Topic 606 [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 40 80
Virgin Islands Operations Segment [Member]    
Disaggregation Of Revenue [Line Items]    
Net interest income 6,141 5,993
Noninterest Income 2,228 1,957
Total Revenues 8,369 7,950
Virgin Islands Operations Segment [Member] | Service charges and fees on deposit accounts [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 736 710
Virgin Islands Operations Segment [Member] | Insurance commissions [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 179 279
Virgin Islands Operations Segment [Member] | Merchant-related income [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 468 389
Virgin Islands Operations Segment [Member] | Credit and debit card fees [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 496 410
Virgin Islands Operations Segment [Member] | Other service charges and fees [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income 344 157
Virgin Islands Operations Segment [Member] | Not inscope of Topic 606 [Member]    
Disaggregation Of Revenue [Line Items]    
Noninterest Income $ 5 $ 12
v3.23.1
REVENUE FROM CONTRACTS WITH CUSTOMERS - Activity of Contract Liability (Detail) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Contract with Customer, Liability [Abstract]    
Beginning balance $ 841 $ 1,443
Revenue recognized (81) (289)
Ending balance $ 760 $ 1,154
v3.23.1
SEGMENT INFORMATION - Additional Information (Detail)
 3 Months Ended
Mar. 31, 2023
numberofreportableunits
SEGMENT INFORMATION [Abstract]  
Number of reportable segments 6
v3.23.1
SEGMENT INFORMATION - Information about Reportable Segments (Detail) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Segment Reporting Information [Line Items]    
Interest income $ 242,396 $ 197,854
Interest expense (41,511) (12,230)
Net interest income 200,885 185,624
Provision for credit losses - (benefit) expense 16,256 (16,989)
Non-interest income 32,518 32,858
Operating Segments [Member]    
Segment Reporting Information [Line Items]    
Interest income 242,396 197,854
Net (charge) credit for transfer of funds 0 0
Interest expense (41,511) (12,230)
Net interest income 200,885 185,624
Provision for credit losses - (benefit) expense 15,502 (13,802)
Non-interest income 32,518 32,858
Direct non-interest expenses 72,155 71,373
Segment income 145,746 160,911
Average earnings assets 17,709,528 19,306,990
Mortgage Banking Segment [Member]    
Segment Reporting Information [Line Items]    
Net interest income 21,788 25,779
Non-interest income 3,074 5,252
Mortgage Banking Segment [Member] | Operating Segments [Member]    
Segment Reporting Information [Line Items]    
Interest income 31,907 33,071
Net (charge) credit for transfer of funds (10,119) (7,292)
Interest expense 0 0
Net interest income 21,788 25,779
Provision for credit losses - (benefit) expense (506) (3,703)
Non-interest income 3,074 5,252
Direct non-interest expenses 5,087 6,906
Segment income 20,281 27,828
Average earnings assets 2,171,061 2,293,648
Consumer Retail Banking Segment [Member]    
Segment Reporting Information [Line Items]    
Net interest income 137,744 89,546
Non-interest income 22,034 20,463
Consumer Retail Banking Segment [Member] | Operating Segments [Member]    
Segment Reporting Information [Line Items]    
Interest income 83,174 70,437
Net (charge) credit for transfer of funds 77,735 24,282
Interest expense (23,165) (5,173)
Net interest income 137,744 89,546
Provision for credit losses - (benefit) expense 15,224 11,144
Non-interest income 22,034 20,463
Direct non-interest expenses 41,627 39,271
Segment income 102,927 59,594
Average earnings assets 3,174,150 2,759,482
Commercial And Corporate Segment [Member]    
Segment Reporting Information [Line Items]    
Net interest income 14,940 40,415
Non-interest income 4,175 4,554
Commercial And Corporate Segment [Member] | Operating Segments [Member]    
Segment Reporting Information [Line Items]    
Interest income 62,343 47,027
Net (charge) credit for transfer of funds (47,403) (6,612)
Interest expense 0 0
Net interest income 14,940 40,415
Provision for credit losses - (benefit) expense (2,536) (16,622)
Non-interest income 4,175 4,554
Direct non-interest expenses 9,365 8,859
Segment income 12,286 52,732
Average earnings assets 3,713,633 3,664,104
Treasury And Investments Segment [Member]    
Segment Reporting Information [Line Items]    
Net interest income (658) 7,409
Non-interest income 160 (112)
Treasury And Investments Segment [Member] | Operating Segments [Member]    
Segment Reporting Information [Line Items]    
Interest income 27,466 22,184
Net (charge) credit for transfer of funds (19,539) (9,949)
Interest expense (8,585) (4,826)
Net interest income (658) 7,409
Provision for credit losses - (benefit) expense (9) (388)
Non-interest income 160 (112)
Direct non-interest expenses 947 885
Segment income (1,436) 6,800
Average earnings assets 6,216,498 8,145,949
United States Operations Segment [Member]    
Segment Reporting Information [Line Items]    
Net interest income 20,930 16,482
Non-interest income 847 744
United States Operations Segment [Member] | Operating Segments [Member]    
Segment Reporting Information [Line Items]    
Interest income 31,114 18,857
Net (charge) credit for transfer of funds (674) (429)
Interest expense (9,510) (1,946)
Net interest income 20,930 16,482
Provision for credit losses - (benefit) expense 4,655 (3,547)
Non-interest income 847 744
Direct non-interest expenses 8,304 8,479
Segment income 8,818 12,294
Average earnings assets 2,067,848 2,065,638
Virgin Islands Operations Segment [Member]    
Segment Reporting Information [Line Items]    
Net interest income 6,141 5,993
Non-interest income 2,228 1,957
Virgin Islands Operations Segment [Member] | Operating Segments [Member]    
Segment Reporting Information [Line Items]    
Interest income 6,392 6,278
Net (charge) credit for transfer of funds 0 0
Interest expense (251) (285)
Net interest income 6,141 5,993
Provision for credit losses - (benefit) expense (1,326) (686)
Non-interest income 2,228 1,957
Direct non-interest expenses 6,825 6,973
Segment income 2,870 1,663
Average earnings assets $ 366,338 $ 378,169
v3.23.1
SEGMENT INFORMATION - Reconciliation of Reportable Segment Financial Information (Detail) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Net Income (Loss):    
Income before income taxes $ 102,633 $ 125,625
Income tax expense 31,935 43,025
Net income 70,698 82,600
Segment Reconciling Items [Member]    
Net Income (Loss):    
Segment income 145,746 160,911
Other operating expenses 43,113 35,286
Income before income taxes 102,633 125,625
Income tax expense 31,935 43,025
Net income 70,698 82,600
Average assets:    
Total average earning assets for segments 17,709,528 19,306,990
Average non-earning assets 847,628 947,011
Total consolidated average assets $ 18,557,156 $ 20,254,001
v3.23.1
SUPPLEMENTAL CASH FLOW INFORMATION - Supplemental Cash Flow Information (Detail) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash paid for:    
Interest on borrowings $ 37,798 $ 13,300
Income tax 10,926 2,598
Operating cash flow from operating leases 4,316 4,751
Non-cash investing and financing activities:    
Additions to OREO 6,414 6,770
Additions to auto and other repossessed assets 15,356 10,772
Capitalization of servicing assets 532 1,130
Loan securitizations 28,736 40,823
Loans held for investment transferred to held for sale 2,345 1,176
Payable related to unsettled purchase of available-for-sale investment securities 0 15,000
ROU asset obtained in exchange for operating lease liabilities $ 1,630 $ 2,791
v3.23.1
REGULATORY MATTERS, COMMITMENTS, AND CONTINGENCIES - Additional Information (Detail) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Dec. 31, 2022
Jan. 01, 2020
Commercial And Financial Standby Letters Of Credit [Member]      
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]      
Commitments to extend credit $ 93.6    
Commitments To Extend Credit [Member]      
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]      
Commitments to extend credit 2,000.0    
Commitments To Extend Credit [Member] | Credit Card [Member]      
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]      
Commitments to extend credit 900.0    
ASU 2016-13      
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]      
Percentage Of Increase In ACL Adjusted In Capital Measures   25.00% 25.00%
CECL, amount excluded to be phased-on during after two years $ 32.4    
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     $ (32.4)
Basel III [Member]      
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]      
Capital Conservation Buffer 2.50%    
v3.23.1
REGULATORY MATTERS, COMMITMENTS, AND CONTINGENCIES - Regulatory capital positions (Detail)
$ in Thousands
Mar. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
First BanCorp [Member]    
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]    
Total Capital (to Risk-Weighted Assets) Actual $ 2,366,591 $ 2,385,866
Total Capital (to Risk-Weighted Assets) Actual Ratio 19.02 19.21
Total Capital (to Risk-Weighted Assets) Required For Capital Adequacy $ 995,597 $ 993,405
Total Capital (to Risk-Weighted Assets) Required For Capital Adequacy Ratio 8.0 8.0
Common Equity Tier 1 Capital (to Risk-Weighted Assets) Actual $ 2,032,369 $ 2,052,333
Common Equity Tier 1 Capital (to Risk-Weighted Assets) Actual Ratio 16.33 16.53
Common Equity Tier 1 Capital (to Risk-Weighted Assets) Required For Capital Adequacy $ 560,023 $ 558,790
Common Equity Tier 1 Capital (to Risk-Weighted Assets) Required For Capital Adequacy Ratio 4.5 4.5
Tier 1 Capital (to Risk-Weighted Assets) Actual $ 2,032,369 $ 2,052,333
Tier 1 Capital (to Risk-Weighted Assets) Actual Ratio 16.33 16.53
Tier 1 Capital (to Risk-Weighted Assets) Required For Capital Adequacy $ 746,697 $ 745,054
Tier 1 Capital (to Risk-Weighted Assets) Required For Capital Adequacy Ratio 6.0 6.0
Leverage Ratio Actual Amount $ 2,032,369 $ 2,052,333
Leverage Ratio Actual Ratio 10.57 10.70
Leverage Ratio Required For Capital Adequacy $ 769,399 $ 767,075
Leverage Ratio Required For Capital Adequacy Ratio 4.0 4.0
FirstBank [Member]    
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]    
Total Capital (to Risk-Weighted Assets) Actual $ 2,327,600 $ 2,346,093
Total Capital (to Risk-Weighted Assets) Actual Ratio 18.71 18.90
Total Capital (to Risk-Weighted Assets) Required For Capital Adequacy $ 995,452 $ 993,264
Total Capital (to Risk-Weighted Assets) Required For Capital Adequacy Ratio 8.0 8.0
Total Capital (to Risk-Weighted Assets) Required To Be Well Capitalized $ 1,244,315 $ 1,241,580
Total Capital (to Risk-Weighted Assets) Required To Be Well Capitalized Ratio 10.0 10.0
Common Equity Tier 1 Capital (to Risk-Weighted Assets) Actual $ 2,071,650 $ 2,090,832
Common Equity Tier 1 Capital (to Risk-Weighted Assets) Actual Ratio 16.65 16.84
Common Equity Tier 1 Capital (to Risk-Weighted Assets) Required For Capital Adequacy $ 559,942 $ 558,711
Common Equity Tier 1 Capital (to Risk-Weighted Assets) Required For Capital Adequacy Ratio 4.5 4.5
Common Equity Tier 1 Capital (to Risk-Weighted Assets) Required To Be Well Capitalized $ 808,805 $ 807,027
Common Equity Tier 1 Capital (to Risk-Weighted Assets) Required To Be Well Capitalized Ratio 6.5 6.5
Tier 1 Capital (to Risk-Weighted Assets) Actual $ 2,171,650 $ 2,190,832
Tier 1 Capital (to Risk-Weighted Assets) Actual Ratio 17.45 17.65
Tier 1 Capital (to Risk-Weighted Assets) Required For Capital Adequacy $ 746,589 $ 744,948
Tier 1 Capital (to Risk-Weighted Assets) Required For Capital Adequacy Ratio 6.0 6.0
Tier 1 Capital (to Risk-Weighted Assets) Required To Be Well Capitalized $ 995,452 $ 993,264
Tier 1 Capital (to Risk-Weighted Assets) Required To Be Well Capitalized Ratio 8.0 8.0
Leverage Ratio Actual Amount $ 2,171,650 $ 2,190,832
Leverage Ratio Actual Ratio 11.29 11.43
Leverage Ratio Required For Capital Adequacy $ 769,102 $ 766,714
Leverage Ratio Required For Capital Adequacy Ratio 4.0 4.0
Leverage Ratio Required To Be Well Capitalized $ 961,378 $ 958,392
Leverage Ratio Required To Be Well Capitalized Ratio 5.0 5.0
v3.23.1
FIRST BANCORP. (Holding Company Only) Financial Information - Statements of Financial Condition (Detail) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Mar. 31, 2022
ASSETS      
Cash and due from banks $ 822,542 $ 478,480 $ 1,694,066
Other assets 299,446 305,633  
Total assets 18,977,114 18,634,484  
Liabilities:      
Long-term borrowings 183,762 183,762  
Accounts payable and other liabilities 237,812 231,582  
Liabilities 17,571,521 17,308,944  
Stockholders Equity 1,405,593 1,325,540 $ 1,781,102
Total liabilities and stockholders' equity 18,977,114 18,634,484  
Holding Company [Member]      
ASSETS      
Cash and due from banks 13,981 19,279  
Other investment securities 735 735  
Dividends receivable 637 624  
Other assets 426 430  
Total assets 1,598,539 1,519,376  
Liabilities:      
Long-term borrowings 183,762 183,762  
Accounts payable and other liabilities 9,184 10,074  
Liabilities 192,946 193,836  
Stockholders Equity 1,405,593 1,325,540  
Total liabilities and stockholders' equity 1,598,539 1,519,376  
Holding Company [Member] | Firstbank Puerto Rico [Member]      
ASSETS      
Equity Method Investments 1,544,874 1,464,026  
Holding Company [Member] | FirstBank Insurance Agency      
ASSETS      
Equity Method Investments 32,374 28,770  
Holding Company [Member] | FBP Statutory Trust I [Member]      
ASSETS      
Equity Method Investments 1,951 1,951  
Holding Company [Member] | FBP Statutory Trust II [Member]      
ASSETS      
Equity Method Investments $ 3,561 $ 3,561  
v3.23.1
FIRST BANCORP. (Holding Company Only) Financial Information - Statements of Income (Detail) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Income:    
Interest income on money market investments $ 27,110 $ 23,247
Expense:    
Income tax expense 31,935 43,025
Net income 70,698 82,600
Other comprehensive (loss) income, net of tax 87,228 (331,834)
Comprehensive income (loss) 157,926 (249,234)
Holding Company [Member]    
Income:    
Interest income on money market investments 53 4
Dividend income 78,870 63,593
Other income 102 40
Total income 79,025 63,637
Expense:    
Other borrowings 3,381 1,333
Other operating expenses 410 439
Total expenses 3,791 1,772
Income before income taxes and equity in undistributed earnings of subsidiaries 75,234 61,865
Income tax expense 1,078 1,106
Equity in undistributed earnings of subsidiaries (distributions in excess of earnigs) (3,458) 21,841
Net income 70,698 82,600
Other comprehensive (loss) income, net of tax 87,228 (331,834)
Comprehensive income (loss) $ 157,926 $ (249,234)