Income taxes (Tables)

6 Months Ended

Jun. 30, 2026

Income Tax Disclosure [Abstract]

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Corporation’s deferred tax assets and liabilities at June 30, 2026, and

December 31, 2025, were as follows:


	June 30, 2026
(In thousands)	PR	US	Total
Deferred tax assets:
Tax credits available for carryforward	$7,318	$61,577	$68,895
Net operating loss and other carryforward available	67,396	542,842	610,238
Postretirement and pension benefits	29,371	-	29,371
Allowance for credit losses	325,466	29,215	354,681
Depreciation	8,528	8,036	16,564
FDIC-assisted transaction	152,665	-	152,665
Lease liability	31,121	18,353	49,474
Unrealized net loss on investment securities	160,070	15,108	175,178
Mortgage Servicing Rights	14,597	-	14,597
Other temporary differences	31,753	7,230	38,983
Total gross deferred tax assets	828,285	682,361	1,510,646
Deferred tax liabilities:
Intangibles	97,484	57,329	154,813
Right of use assets	28,352	16,685	45,037
Deferred loan origination fees/cost	16,568	2,171	18,739
Loans acquired	17,305	-	17,305
Other temporary differences	9,715	429	10,144
Total gross deferred tax liabilities	169,424	76,614	246,038
Valuation allowance	83,979	386,586	470,565
Net deferred tax asset	$574,882	$219,161	$794,043


	December 31, 2025
(In thousands)	PR	US	Total
Deferred tax assets:
Tax credits available for carryforward	$7,318	$46,632	$53,950
Net operating loss and other carryforward available	59,578	568,156	627,734
Postretirement and pension benefits	29,453	-	29,453
Allowance for credit losses	255,017	28,465	283,482
Deferred loan origination fees/cost	7,205	(2,474)	4,731
Depreciation	8,422	7,899	16,321
FDIC-assisted transaction	152,665	-	152,665
Lease liability	27,382	17,758	45,140
Unrealized net loss on investment securities	160,809	12,850	173,659
Difference in outside basis from pass-through entities	54,457	-	54,457
Mortgage Servicing Rights	15,375	-	15,375
Other temporary differences	26,347	7,586	33,933
Total gross deferred tax assets	804,028	686,872	1,490,900
Deferred tax liabilities:
Intangibles	92,797	55,760	148,557
Right of use assets	24,846	15,875	40,721
Loans acquired	17,053	-	17,053
Other temporary differences	7,082	429	7,511
Total gross deferred tax liabilities	141,778	72,064	213,842
Valuation allowance	78,153	386,587	464,740
Net deferred tax asset	$584,097	$228,221	$812,318