v3.25.1
Income taxes - Components of deferred tax assets and liabilities (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Deferred tax assets:    
Tax credits available for carryforward $ 32,635 $ 29,589
Net operating loss and other carryforward available 661,796 662,490
Postretirement and pension benefits 28,190 27,786
Allowance for credit losses 271,990 271,568
Depreciation 15,081 14,929
FDIC-assisted transaction 152,665 152,665
Lease liability 41,876 41,618
Unrealized net loss on investment securities 238,545 273,407
Difference in outside basis from pass-through entities 53,381 50,144
Mortgage servicing rights 14,815 14,475
Other temporary differences 47,505 50,199
Total gross deferred tax assets 1,558,479 1,588,870
Deferred tax liabilities:    
Intangibles 145,990 144,277
Right of use assets 37,561 37,238
Deferred loan origination fees/cost 1,453 205
Loans acquired 17,907 18,415
Other temporary differences 7,255 7,228
Total gross deferred tax liabilities 210,166 207,363
Valuation allowance 462,511 456,751
Net deferred tax asset 885,802 924,756
PR    
Deferred tax assets:    
Tax credits available for carryforward 4,861 4,861
Net operating loss and other carryforward available 58,060 52,211
Postretirement and pension benefits 28,190 27,786
Allowance for credit losses 244,976 247,153
Depreciation 7,700 7,700
FDIC-assisted transaction 152,665 152,665
Lease liability 26,658 25,167
Unrealized net loss on investment securities 221,538 252,411
Difference in outside basis from pass-through entities 53,381 50,144
Mortgage servicing rights 14,815 14,475
Other temporary differences 38,635 41,127
Total gross deferred tax assets 851,479 875,700
Deferred tax liabilities:    
Intangibles 89,280 88,351
Right of use assets 24,190 22,784
Deferred loan origination fees/cost (1,154) (1,880)
Loans acquired 17,907 18,415
Other temporary differences 6,826 6,799
Total gross deferred tax liabilities 137,049 134,469
Valuation allowance 75,598 69,837
Net deferred tax asset 638,832 671,394
US    
Deferred tax assets:    
Tax credits available for carryforward 27,774 24,728
Net operating loss and other carryforward available 603,736 610,279
Postretirement and pension benefits 0 0
Allowance for credit losses 27,014 24,415
Depreciation 7,381 7,229
FDIC-assisted transaction 0 0
Lease liability 15,218 16,451
Unrealized net loss on investment securities 17,007 20,996
Difference in outside basis from pass-through entities 0 0
Mortgage servicing rights 0 0
Other temporary differences 8,870 9,072
Total gross deferred tax assets 707,000 713,170
Deferred tax liabilities:    
Intangibles 56,710 55,926
Right of use assets 13,371 14,454
Deferred loan origination fees/cost 2,607 2,085
Loans acquired 0 0
Other temporary differences 429 429
Total gross deferred tax liabilities 73,117 72,894
Valuation allowance 386,913 386,914
Net deferred tax asset $ 246,970 $ 253,362