Banco Santander Puerto Rico (merged into FirstBank Puerto Rico)
Banco Santander Puerto Rico reported total assets of $6.0 bn at Q2 2020, its last Call Report before it merged into FirstBank Puerto Rico. The CET1 capital ratio at Banco Santander Puerto Rico was 42.67%, and the uninsured share of Banco Santander Puerto Rico was 34.28%. Source: FDIC Call Reports.
What sets Banco Santander Puerto Rico apart
Nothing in the latest data sets Banco Santander Puerto Rico apart from banks of its size: no ratio in the top or bottom tenth of its size group, no large rank move or year change, and no acquisition in the FDIC history since 2016. This page is kept out of search results until that changes.
How large is Banco Santander Puerto Rico?
The balance sheet of Banco Santander Puerto Rico at : assets $6.0 bn, deposits $4.9 bn, net loans $2.6 bn (loans equal to 53.27% of deposits). Securities make up 19.6% of total assets at Banco Santander Puerto Rico. Since , when Banco Santander Puerto Rico held $5.3 bn, its assets grew 12.1%. In the year to , deposits at Banco Santander Puerto Rico fell 3.5% while its total assets fell 3.0%. At , Banco Santander Puerto Rico employed 931 full-time equivalent staff across 27 offices, about $6.4 mn of assets per employee and $180.1 mn of deposits per office.
How much funding at Banco Santander Puerto Rico is uninsured?
At Banco Santander Puerto Rico, uninsured deposits (above the FDIC limit) made up 34.28% of domestic deposits at (+5.61 pp on a year earlier). In dollars, Banco Santander Puerto Rico estimated $1.7 bn of uninsured deposits.
Key facts, Q2 2020
| Metric | Value | A year earlier | US rank |
|---|---|---|---|
| Total deposits | $4.9 bn | $5.0 bn (Q2 2019) | |
| Net loans and leases | $2.6 bn | $3.0 bn (Q2 2019) | |
| Loan-to-deposit ratio | 53.27% | 59.02% (Q2 2019) | |
| Tier 1 leverage ratio | 18.20% | 17.30% (Q2 2019) | |
| Total risk-based capital ratio | 43.94% | 36.41% (Q2 2019) | |
| Net interest margin | 3.01% | 4.25% (Q2 2019) | |
| Return on assets (ROA) | 0.54% | 1.33% (Q2 2019) | |
| Efficiency ratio | 68.44% | 58.47% (Q2 2019) | |
| Unrealized gain/loss on available-for-sale securities | Gain of $17.9 mn | Rose by $14.9 mn | |
| Noncurrent loans to total loans | 1.44% | 5.56% (Q2 2019) | |
| Net charge-offs to average loans | 0.85% | 1.02% (Q2 2019) |
US rank of Banco Santander Puerto Rico: 1 = highest unless marked 1 = lowest.
Balance sheet
Banco Santander Puerto Rico: assets, deposits and loans
- Total assets $6.0bn
- Deposits $4.9bn
- Net loans $2.6bn
Capital and securities
The CET1 ratio of Banco Santander Puerto Rico stood at 42.67% in , +7.53 pp year on year. Low and high at Banco Santander Puerto Rico since : 24.44% () to 42.67% (). Equity capital of Banco Santander Puerto Rico at : $1.0 bn, or 16.9% of total assets. Banco Santander Puerto Rico also reported a total capital ratio of 43.94% for , and a tier 1 leverage ratio of 18.20%.
The available-for-sale portfolio of Banco Santander Puerto Rico showed an unrealized gain of $17.9 mn at ; the gain rose by $14.9 mn over the year.
Banco Santander Puerto Rico: capital ratios
- Total capital 44%
- CET1 43%
- Tier 1 leverage 18%
Banco Santander Puerto Rico: unrealized securities gains and losses
- Available for sale $18mn
- Held to maturity $0
Profitability and loan quality
For the year to , Banco Santander Puerto Rico earned a return on equity of 3.15%; return on assets: 0.54%. Net interest margin at Banco Santander Puerto Rico: 3.01%, -1.24 pp in a year. Banco Santander Puerto Rico net income: $16.0 mn, down 56.4% year on year. The efficiency ratio of Banco Santander Puerto Rico was 68.44%: about 68 cents cost per revenue dollar, against 55 cents at the median peer.
At , noncurrent loans were 1.44% of total loans at Banco Santander Puerto Rico; net charge-offs: 0.85% of average loans. Gross loans and leases at Banco Santander Puerto Rico: $2.7 bn at , against $3.1 bn at .
Banco Santander Puerto Rico: profitability
- Return on equity 3.1%
- Net interest margin 3.0%
- Return on assets 0.5%
Peer group of Banco Santander Puerto Rico
The peer group of Banco Santander Puerto Rico is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 4 share the charter type of Banco Santander Puerto Rico (state nonmember bank) and 0 have head offices in Puerto Rico. Against them, Banco Santander Puerto Rico shows CET1 ratio 42.67% against a peer median of 12.31%, return on equity 3.15% against a peer median of 12.00% and uninsured deposit share 34.28% against a peer median of 33.73%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| Pinnacle Bank | State nonmember bank | NE | $6.1 bn | 12.28% | 12.90% | 32.65% | |
| Ameriprise Bank, FSB | Federal savings bank | MN | $6.0 bn | 12.68% | 13.72% | 0.04% | |
| First American Bank | State nonmember bank | IL | $6.0 bn | 12.98% | 7.87% | 48.60% | |
| Banco Santander Puerto Rico | State nonmember bank | PR | $6.0 bn | 42.67% | 3.15% | 34.28% | |
| Beacon Bank and Trust | State member bank | MA | $6.0 bn | 10.77% | 0.97% | 34.81% | |
| Century Bank and Trust Company | State nonmember bank | MA | $5.9 bn | 12.35% | 11.18% | 63.96% | |
| The Washington Trust Company, of Westerly | State nonmember bank | RI | $5.9 bn | 11.68% | 12.83% | 25.65% | |
. FDIC Call Reports.
Last eight quarters
Two years at Banco Santander Puerto Rico, to : assets $5.2 bn to $6.0 bn, deposits $4.2 bn to $4.9 bn, equity $937.4 mn to $1.0 bn. Staff 1,035 to 931.
| Metric | Q3 2018 | Q4 2018 | Q1 2019 | Q2 2019 | Q3 2019 | Q4 2019 | Q1 2020 | Q2 2020 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $5.2 bn | $5.2 bn | $5.3 bn | $6.2 bn | $6.2 bn | $6.0 bn | $5.9 bn | $6.0 bn |
| Total deposits | $4.2 bn | $4.1 bn | $4.2 bn | $5.0 bn | $5.0 bn | $4.8 bn | $4.8 bn | $4.9 bn |
| Bank equity capital | $937.4 mn | $957.6 mn | $984.3 mn | $1.0 bn | $1.0 bn | $1.0 bn | $1.0 bn | $1.0 bn |
| CET1 ratio | 30.72% | 33.02% | 34.18% | 35.14% | 36.92% | 41.72% | 42.22% | 42.67% |
| Return on equity (ROE) | 5.83% | 6.15% | 7.31% | 7.49% | 8.27% | 6.65% | 0.75% | 3.15% |
| Uninsured share of domestic deposits | 36.68% | 35.10% | 35.98% | 28.67% | 29.61% | 28.77% | 28.51% | 34.28% |
| Full-time equivalent employees | 1,035 | 998 | 1,004 | 1,013 | 1,010 | 991 | 958 | 931 |
| Number of offices | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of Banco Santander Puerto Rico, oldest first; figures before and after each event are not like for like.
- . Merged into FirstBank Puerto Rico (FDIC certificate 30387).
Questions and identifiers
What were the total assets of Banco Santander Puerto Rico?
Banco Santander Puerto Rico reported $6.0 bn at in its Call Report.
Is Banco Santander Puerto Rico the same as its holding company?
No. This page covers Banco Santander Puerto Rico, FDIC certificate 20828; BANCO SANTANDER SA (as reported to the FDIC), its holding company, reports separately to the Federal Reserve.
Is Banco Santander Puerto Rico profitable?
Banco Santander Puerto Rico reported net income of $16.0 mn for the year to ; annualized return on equity: 3.15%. So yes: Banco Santander Puerto Rico made a profit over these months.
When is data for Banco Santander Puerto Rico next updated?
Banco Santander Puerto Rico no longer files Call Reports; its data ends at .
Where can I check the figures for Banco Santander Puerto Rico?
In the FDIC BankFind Suite record for certificate 20828, and in the Call Reports of Banco Santander Puerto Rico (RSSD ID 816210) at the FFIEC Central Data Repository.