Scotiabank de Puerto Rico (merged into Oriental Bank)
Scotiabank de Puerto Rico reported total assets of $3.5 bn at Q3 2019, its last Call Report before it merged into Oriental Bank. The CET1 capital ratio at Scotiabank de Puerto Rico was 39.71%, and the uninsured share of Scotiabank de Puerto Rico was 32.80%. Source: FDIC Call Reports.
What sets Scotiabank de Puerto Rico apart
Nothing in the latest data sets Scotiabank de 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 Scotiabank de Puerto Rico?
The balance sheet of Scotiabank de Puerto Rico at : assets $3.5 bn, deposits $2.7 bn, net loans $2.0 bn (loans equal to 75.66% of deposits). Securities make up 21.3% of total assets at Scotiabank de Puerto Rico. Since , when Scotiabank de Puerto Rico held $4.6 bn, its assets shrank 22.9%. In the year to , deposits at Scotiabank de Puerto Rico fell 11.5% while its total assets fell 14.9%. At , Scotiabank de Puerto Rico employed 940 full-time equivalent staff across 19 offices, about $3.7 mn of assets per employee and $140.5 mn of deposits per office.
How much funding at Scotiabank de Puerto Rico is uninsured?
At Scotiabank de Puerto Rico, uninsured deposits (above the FDIC limit) made up 32.80% of domestic deposits at (-1.55 pp on a year earlier). In dollars, Scotiabank de Puerto Rico estimated $875.5 mn of uninsured deposits.
Key facts, Q3 2019
| Metric | Value | A year earlier | US rank |
|---|---|---|---|
| Total deposits | $2.7 bn | $3.0 bn (Q3 2018) | |
| Net loans and leases | $2.0 bn | $2.3 bn (Q3 2018) | |
| Loan-to-deposit ratio | 75.66% | 76.96% (Q3 2018) | |
| Tier 1 leverage ratio | 20.55% | 21.87% (Q3 2018) | |
| Total risk-based capital ratio | 41.20% | 51.58% (Q3 2018) | |
| Net interest margin | 4.21% | 4.47% (Q3 2018) | |
| Return on assets (ROA) | 1.80% | 0.85% (Q3 2018) | |
| Efficiency ratio | 54.91% | 72.00% (Q3 2018) | |
| Unrealized gain/loss on available-for-sale securities | Gain of $1.7 mn | Turned from a loss into a gain | |
| Noncurrent loans to total loans | 13.19% | 14.86% (Q3 2018) | |
| Net charge-offs to average loans | 0.17% | 0.42% (Q3 2018) |
US rank of Scotiabank de Puerto Rico: 1 = highest unless marked 1 = lowest.
Balance sheet
Scotiabank de Puerto Rico: assets, deposits and loans
- Total assets $3.5bn
- Deposits $2.7bn
- Net loans $2.0bn
Capital and securities
The CET1 ratio of Scotiabank de Puerto Rico stood at 39.71% in , -10.29 pp year on year. Low and high at Scotiabank de Puerto Rico since : 28.26% () to 57.33% (). Equity capital of Scotiabank de Puerto Rico at : $726.5 mn, or 20.7% of total assets. Scotiabank de Puerto Rico also reported a total capital ratio of 41.20% for , and a tier 1 leverage ratio of 20.55%.
The available-for-sale portfolio of Scotiabank de Puerto Rico showed an unrealized gain of $1.7 mn at ; the gain turned from a loss into a gain over the year.
Scotiabank de Puerto Rico: capital ratios
- Total capital 41%
- CET1 40%
- Tier 1 leverage 21%
Scotiabank de Puerto Rico: unrealized securities gains and losses
- Available for sale $2mn
- Held to maturity $0
Profitability and loan quality
For the year to , Scotiabank de Puerto Rico earned a return on equity of 8.02%; return on assets: 1.80%. Net interest margin at Scotiabank de Puerto Rico: 4.21%, -0.26 pp in a year. Scotiabank de Puerto Rico net income: $50.8 mn, up 91.6% year on year. The efficiency ratio of Scotiabank de Puerto Rico was 54.91%: about 55 cents cost per revenue dollar, against 55 cents at the median peer.
At , noncurrent loans were 13.19% of total loans at Scotiabank de Puerto Rico; net charge-offs: 0.17% of average loans. Gross loans and leases at Scotiabank de Puerto Rico: $2.1 bn at , against $2.6 bn at .
Scotiabank de Puerto Rico: profitability
- Return on equity 8.0%
- Net interest margin 4.2%
- Return on assets 1.8%
Peer group of Scotiabank de Puerto Rico
The peer group of Scotiabank de Puerto Rico is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 2 share the charter type of Scotiabank de Puerto Rico (state nonmember bank) and 0 have head offices in Puerto Rico. Against them, Scotiabank de Puerto Rico shows CET1 ratio 39.71% against a peer median of 12.66%, return on equity 8.02% against a peer median of 11.75% and uninsured deposit share 32.80% against a peer median of 31.90%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| Independent Bank | State member bank | MI | $3.5 bn | 11.75% | 12.81% | 17.95% | |
| Stock Yards Bank & Trust Company | State nonmember bank | KY | $3.5 bn | 11.07% | 17.67% | 38.50% | |
| CNB Bank | State member bank | PA | $3.5 bn | 11.02% | 12.14% | 31.25% | |
| Scotiabank de Puerto Rico | State nonmember bank | PR | $3.5 bn | 39.71% | 8.02% | 32.80% | |
| The First Bank | State member bank | MS | $3.5 bn | 15.57% | 9.73% | 32.55% | |
| CommunityBank of Texas | National bank | TX | $3.4 bn | 13.57% | 11.15% | 46.91% | |
| Hills Bank and Trust Company | State nonmember bank | IA | $3.4 bn | 16.71% | 11.37% | 21.91% | |
. FDIC Call Reports.
Last eight quarters
Two years at Scotiabank de Puerto Rico, to : assets $4.1 bn to $3.5 bn, deposits $3.1 bn to $2.7 bn, equity $872.2 mn to $726.5 mn. Staff 1,029 to 940; offices 21 to 19.
| Metric | Q4 2017 | Q1 2018 | Q2 2018 | Q3 2018 | Q4 2018 | Q1 2019 | Q2 2019 | Q3 2019 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $4.1 bn | $4.2 bn | $4.2 bn | $4.1 bn | $4.0 bn | $3.9 bn | $3.6 bn | $3.5 bn |
| Total deposits | $3.1 bn | $3.1 bn | $3.1 bn | $3.0 bn | $2.9 bn | $2.8 bn | $2.7 bn | $2.7 bn |
| Bank equity capital | $872.2 mn | $862.9 mn | $883.3 mn | $893.9 mn | $967.6 mn | $982.2 mn | $700.8 mn | $726.5 mn |
| CET1 ratio | 42.82% | 45.47% | 46.18% | 50.00% | 55.43% | 57.33% | 42.75% | 39.71% |
| Return on equity (ROE) | -4.15% | -3.28% | 3.22% | 4.03% | 10.59% | 4.34% | 5.45% | 8.02% |
| Uninsured share of domestic deposits | 30.80% | 31.99% | 32.01% | 34.35% | 32.99% | 32.84% | 32.75% | 32.80% |
| Full-time equivalent employees | 1,029 | 997 | 977 | 955 | 974 | 975 | 949 | 940 |
| Number of offices | 21 | 20 | 20 | 20 | 20 | 20 | 20 | 19 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of Scotiabank de Puerto Rico, oldest first; figures before and after each event are not like for like.
- . Merged into Oriental Bank (FDIC certificate 31469).
Questions and identifiers
What were the total assets of Scotiabank de Puerto Rico?
Scotiabank de Puerto Rico reported $3.5 bn at in its Call Report.
Is Scotiabank de Puerto Rico the same as its holding company?
No. This page covers Scotiabank de Puerto Rico, FDIC certificate 22946; BANK OF NOVA SCOTIA THE (as reported to the FDIC), its holding company, reports separately to the Federal Reserve.
Is Scotiabank de Puerto Rico profitable?
Scotiabank de Puerto Rico reported net income of $50.8 mn for the year to ; annualized return on equity: 8.02%. So yes: Scotiabank de Puerto Rico made a profit over these months.
When is data for Scotiabank de Puerto Rico next updated?
Scotiabank de Puerto Rico no longer files Call Reports; its data ends at .
Where can I check the figures for Scotiabank de Puerto Rico?
In the FDIC BankFind Suite record for certificate 22946, and in the Call Reports of Scotiabank de Puerto Rico (RSSD ID 716413) at the FFIEC Central Data Repository.