Other Income >. The following table presents the composition of other income. Other income primarily consists of fees on loans, service charges on deposit accounts, commissions derived from various banking activities, and gains on sale of investments. Other fees on loans consist mainly of credit card fees and late charges col- lected on loans. The increase in this source of income to $20 million in 2001 and 2000, from $13 million in 1999 was mainly due to fees generat- ed on the increased portfolio of loans, and to the elimination on the pro- hibition of late charges on credit card fees in Puerto Rico during 2000. Service charges on deposit accounts represent an important and stable source of other income for the Corporation. This source of income has averaged $9 million for the last three years. Mortgage banking activities income reflect the servicing fees on residential mortgage loans originated by the Corporation and subsequently securi- tized or sold, and gain on sale of loans. The increase for 2001 results from the gain of $1.3 million on the sale of $42.3 million of mortgage loans to Fannie Mae, with servicing retained. There were no sales of loans in 2000, and only $1.3 million sold in 1999. The Corporation’s subsidiary, First Leasing and Rental Corporation, gener- ates income on the rental of various types of motor vehicles. This source of income has averaged approximately $2 million in the past three years. As a result of an agreement with Goldman, Sachs, to participate in bond issues by the Government of Puerto Rico, and an agreement with a nation- al brokerage house in Puerto Rico to offer brokerage services in selected branches, the Corporation earned $1.5 million and $1.3 million in other commissions in 2001 and 2000, respectively. The other operating income category is composed of various types of service fee such as check fees and rental of safe deposit boxes. Other operating income also includes earned discounts on tax credits purchased and utilized against income tax payments, and other fees generated on the increased portfolio of commercial loans. In addition, other income includes the commissions earned by the new subsidiary FirstBank Insurance Agency, Inc., during 2001, which accounted for the increase in this caption from 2000 to 2001. Gains on sale of investment securities amounted to $9.6 million in 2001, $7.9 million in 2000, and $1.4 million in 1999. These gains reflect market opportunities that arose and that are in consonance to the Corporation’s investment policies. 0 33 First BanCorp.> 2001 Year ended December 31, 2001 2000 1999 (In thousands) Other fees on loans $19,632 $19,913 $ 12,887 Service charges on deposit accounts 9,213 8,898 8,540 Mortgage banking activities 1,585 521 870 Rental income 2,293 2,434 2,610 Other commissions  1,511 1,340 Other operating income  8,471 7,959 6,584 Other income before gain on sale of investments, trading and dividend on equity securities  42,705 41,065 31,491 Gain on sale of investments  9,606 7,850 1,377 Trading income (loss)  419 (8 Dividend on equity securities 669 698 2 Total $52,980 $50,032 $32,862 )