Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2014 | Apr. 30, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'OFG BANCORP | ' |
Entity Central Index Key | '0001030469 | ' |
Document Type | '10-Q | ' |
Document Period End Date | 31-Mar-14 | ' |
Amendment Flag | 'false | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'FY | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 45,011,649 |
Consolidated_Statements_of_Fin
Consolidated Statements of Financial Condition (Unaudited) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Cash and cash equivalents | ' | ' |
Cash and Due from Banks | $616,984 | $614,302 |
Money market investments | 7,652 | 6,967 |
Total cash and cash equivalents | 624,636 | 621,269 |
Restricted Cash And Cash Equivalents | 15,170 | 82,199 |
Securities purchased under agreements to resell | 0 | 60,000 |
Investments: | ' | ' |
Trading Securities | 1,910 | 1,869 |
Investment securities available-for-sale, at fair value | 1,455,685 | 1,588,425 |
Federal Home Loan Bank (FHLB) stock, at cost | 24,430 | 24,450 |
Other investments | 65 | 65 |
Total investments | 1,482,090 | 1,614,809 |
Loans: | ' | ' |
Mortgage loans held-for-sale, at lower of cost or fair value | 19,355 | 46,529 |
Loans not covered under shared-loss agreements with the FDIC, net of allowance for loan and lease losses, excluding loans held-for-sale | 4,635,394 | 4,615,929 |
Loans covered under shared-loss agreements with the FDIC, net of allowance for loan and lease losses | 347,865 | 356,961 |
Total loans, net | 5,002,614 | 5,019,419 |
Other asset | ' | ' |
FDIC shared-loss indemnification asset | 166,194 | 189,240 |
Foreclosed real estate covered under shared-loss agreements with the FDIC | 37,785 | 33,209 |
Foreclosed real estate not covered under shared-loss agreements with the FDIC | 59,099 | 56,815 |
Accrued interest receivable | 18,969 | 18,734 |
Deferred tax asset, net | 127,657 | 137,564 |
Premises and equipment, net | 83,029 | 82,903 |
Customers' liability on acceptances | 28,152 | 23,042 |
Servicing Assets | 13,970 | 13,801 |
Derivative assets | 15,861 | 20,502 |
Goodwill | 86,069 | 86,069 |
Other assets | 94,343 | 98,440 |
Total assets | 7,855,638 | 8,158,015 |
Deposits: | ' | ' |
Demand deposits | 2,188,458 | 2,138,005 |
Savings accounts | 1,267,290 | 1,194,567 |
Tme Deposits | 1,845,244 | 2,050,693 |
Total deposits | 5,300,992 | 5,383,265 |
Borrowings: | ' | ' |
Securities sold under agreements to repurchase | 1,012,240 | 1,267,618 |
Advances from FHLB | 335,689 | 336,143 |
Subordinated capital notes | 100,404 | 100,010 |
Federal Funds Purchased | 23,712 | 0 |
Other borrowings | 3,708 | 3,663 |
Total borrowings | 1,475,753 | 1,707,434 |
Derivative liabilities | 13,830 | 14,937 |
Acceptances executed and outstanding | 28,535 | 23,042 |
Accrued expenses and other liabilities | 140,037 | 144,424 |
Total liabilities | 6,959,147 | 7,273,102 |
Stockholders' equity: | ' | ' |
Preferred Stock | 92,000 | 92,000 |
Convertible Preferred Stock | 84,000 | 84,000 |
Common stock | 52,714 | 52,707 |
Additional paid-in capital | 538,287 | 538,071 |
Legal surplus | 64,292 | 61,957 |
Retained earnings | 147,919 | 133,629 |
Treasury stock, at cost | -90,743 | -80,642 |
Accumulated other comprehensive income, net of tax, Total | 8,022 | 3,191 |
Total stockholders' equity | 896,491 | 884,913 |
Total liabilities and stockholders' equity | $7,855,638 | $8,158,015 |
Consolidated_Statements_of_Fin1
Consolidated Statements of Financial Condition (Unaudited) (Parenthetical) (USD $) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2014 | Dec. 31, 2013 | |
Amortized cost of trading securities | $2,453,000 | $2,448,000 |
Amortized cost of investment securities available-for-sale | 1,437,106,000 | 1,575,043,000 |
Allowance for loan and lease losses, non-covered | 56,183,000 | 54,298,000 |
Allowance for loan and lease losses, covered | 54,398,000 | 52,729,000 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, liquidation value | 25 | 25 |
Common stock, par value | $1 | $1 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 52,713,673 | 52,707,023 |
Common stock, shares outstanding | 45,003,924 | 45,676,922 |
Treasury stock, at cost, shares | 7,709,749 | 7,030,101 |
Tax effect on accumulated other comprehensive income (loss) | -87,000 | -831,000 |
Series A Preferred Stock | ' | ' |
Preferred stock, shares outstanding | 1,340,000 | 1,340,000 |
Series B Preferred Stock | ' | ' |
Preferred stock, shares outstanding | 1,380,000 | 1,380,000 |
Series C Convertible Preferred Stock | ' | ' |
Preferred stock, shares outstanding | 84,000 | 84,000 |
Preferred stock, liquidation value | $1,000 | $1,000 |
Series D Preferred Stock Member | ' | ' |
Preferred stock, shares outstanding | 960,000 | 960,000 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Interest income: | ' | ' |
Loans Not Covered Under Shared Loss Agreements With Fdic | $85,243 | $80,807 |
Loans Covered Under Loss Sharing Agreements | 23,388 | 20,229 |
Total interest income from loans | 108,631 | 101,036 |
Mortgage-backed securities | 12,417 | 10,818 |
Investment securities and other | 2,026 | 2,318 |
Total interest income | 123,074 | 114,172 |
Interest expense: | ' | ' |
Deposits | 8,978 | 9,935 |
Securities sold under agreements to repurchase | 7,411 | 7,248 |
Advances from FHLB and other borrowings | 2,295 | 1,713 |
Subordinated capital notes | 992 | 1,660 |
Total interest expense | 19,676 | 20,556 |
Net interest income | 103,398 | 93,616 |
Provision for Non Covered Loan and Lease Losses | 10,062 | 7,916 |
Provision for Covered Loan and Lease Losses | 1,629 | 672 |
Total provision for loan and lease losses | 11,691 | 8,588 |
Net interest income after provision for loan and lease losses | 91,707 | 85,028 |
Non-interest income: | ' | ' |
Banking service revenues | 10,606 | 11,838 |
Financial Service Revenues | 6,867 | 7,660 |
Mortgage banking activities | 1,950 | 3,153 |
Total Banking and Financial Service Revenues | 19,423 | 22,651 |
FDIC shared-loss expense, net [Abstract] | ' | ' |
FDIC shared-loss indemnification asset expense | -17,622 | -12,201 |
FDIC true-up payment obligation expense | -865 | -670 |
FDIC shared-loss expense, net | -18,487 | -12,871 |
Net gain (loss) on: | ' | ' |
Sale of securities | 4,366 | 0 |
Derivatives | -478 | -788 |
Loss on early extinguishment of repurchase agreements | 0 | 1,061 |
Other | 454 | 46 |
Total non-interest income, net | 5,278 | 10,099 |
Non-interest expense: | ' | ' |
Compensation and employee benefits | 21,787 | 23,249 |
Professional and service fees | 4,206 | 6,478 |
Occupancy and equipment | 8,309 | 9,216 |
Insurance | 2,074 | 2,678 |
Electronic banking charges | 4,743 | 3,728 |
Information technology related expenses | 1,815 | 2,643 |
Advertising, business promotion, and strategic initiatives | 1,781 | 1,409 |
Merger and restructuring charges | 0 | 5,534 |
Foreclosure, repossession and other real estate expenses | 6,436 | 3,382 |
Loan servicing and clearing expenses | 2,060 | 1,475 |
Taxes, other than payroll and income taxes | 3,735 | 2,622 |
Communication | 957 | 864 |
Printing, postage, stationary and supplies | 554 | 1,166 |
Director and investors relations | 251 | 236 |
Other | 2,745 | 2,129 |
Total non-interest expense | 61,453 | 66,809 |
Income before income taxes | 35,532 | 28,318 |
Income tax expense (benefit) | 11,785 | 7,126 |
Net income | 23,747 | 21,192 |
Dividends on preferred stock | -3,465 | -3,465 |
Income available to common shareholders | $20,282 | $17,727 |
Earnings per common share: | ' | ' |
Basic | $0.45 | $0.39 |
Diluted | $0.42 | $0.37 |
Average common shares outstanding and equivalents | 52,598 | 52,892 |
Cash dividends per share of common stock | $0.08 | $0.06 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Consolidated Statements of Comprehensive Income (Loss) [Abstract] | ' | ' |
Net income | $23,747 | $21,192 |
Other comprehensive income (loss) before tax: | ' | ' |
Unrealized gain (loss) on securities available-for-sale | 9,563 | -10,992 |
Realized gain on investment securities included in net income | -4,366 | 0 |
Unrealized gain (loss) on cash flow hedges | 378 | 1,462 |
Other comprehensive income (loss) before taxes | 5,575 | -9,530 |
Income tax effect | -744 | 701 |
Other Comprehensive Income (Loss) After taxes | 4,831 | -8,829 |
Comprehensive income | $28,578 | $12,363 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (USD $) | Total | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Preferred Stock Issuance Cost [Member] | Common Stock Issuance Cost [Member] | Legal Surplus [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
In Thousands | ||||||||||
Beginning Balance at Dec. 31, 2012 | ' | $176,000 | $52,671 | $537,453 | ' | ' | $52,143 | $70,734 | ($81,275) | $55,880 |
Stock-based compensation expense | ' | ' | ' | 437 | ' | ' | ' | ' | ' | ' |
Exercised Stock Options | ' | ' | ' | 0 | ' | 0 | ' | ' | ' | ' |
Lapsed restricted stock units | ' | ' | ' | -351 | ' | ' | ' | ' | 351 | ' |
Stock Issuance Cost | ' | ' | ' | ' | -23 | -16 | ' | ' | ' | ' |
Transfer from/to legal surplus | ' | ' | ' | ' | ' | ' | 1,985 | -1,985 | ' | ' |
Net income | 21,192 | ' | ' | ' | ' | ' | ' | 21,192 | ' | ' |
Cash dividends declared on common stock | ' | ' | ' | ' | ' | ' | ' | -2,737 | ' | ' |
Cash dividends declared on preferred stock | ' | ' | ' | ' | ' | ' | ' | -3,465 | ' | ' |
Stock purchased | 0 | ' | ' | ' | ' | ' | ' | ' | 0 | ' |
Stock used to match defined contribution plan | ' | ' | ' | ' | ' | ' | ' | ' | 77 | ' |
Other comprehensive loss, net of tax | -8,829 | ' | ' | ' | ' | ' | ' | ' | ' | -8,829 |
Ending Balance at Mar. 31, 2013 | 870,242 | 176,000 | 52,671 | 537,500 | ' | ' | 54,128 | 83,739 | -80,847 | 47,051 |
Beginning Balance at Dec. 31, 2013 | 884,913 | 176,000 | 52,707 | 538,071 | ' | ' | 61,957 | 133,629 | -80,642 | 3,191 |
Stock-based compensation expense | ' | ' | ' | 439 | ' | ' | ' | ' | ' | ' |
Exercised Stock Options | ' | ' | 7 | 71 | ' | ' | ' | ' | ' | ' |
Lapsed restricted stock units | ' | ' | ' | -294 | ' | ' | ' | ' | 292 | ' |
Stock Issuance Cost | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' |
Transfer from/to legal surplus | ' | ' | ' | ' | ' | ' | 2,335 | -2,335 | ' | ' |
Net income | 23,747 | ' | ' | ' | ' | ' | ' | 23,747 | ' | ' |
Cash dividends declared on common stock | ' | ' | ' | ' | ' | ' | ' | -3,657 | ' | ' |
Cash dividends declared on preferred stock | ' | ' | ' | ' | ' | ' | ' | -3,465 | ' | ' |
Stock purchased | 10,393 | ' | ' | ' | ' | ' | ' | ' | -10,393 | ' |
Stock used to match defined contribution plan | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' |
Other comprehensive loss, net of tax | 4,831 | ' | ' | ' | ' | ' | ' | ' | ' | 4,831 |
Ending Balance at Mar. 31, 2014 | $896,491 | $176,000 | $52,714 | $538,287 | ' | ' | $64,292 | $147,919 | ($90,743) | $8,022 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Cash flows from operating activities: | ' | ' |
Net income | $23,747 | $21,192 |
Adjustments to reconcile net income to net cash provied by (used in) operating activities: | ' | ' |
Amortization of deferred loan origination fees, net of costs | 601 | 256 |
Amortization of discount to fair value of acquired loan | 3,634 | 2,579 |
Amortization of investment securities premiums, net of accretion of discounts | 412 | 6,200 |
Amortization of core deposit and customer relationship intangibles | 542 | 644 |
Amortization of fair value premium of acquired deposits | 1,897 | 5,267 |
FDIC Loss Share (Expense), net | 18,487 | 12,871 |
Amortization of prepaid FDIC assesment | 0 | 860 |
Other impairments on securities | 0 | 7 |
Depreciation and amortization of premises and equipment | 2,399 | 3,092 |
Deferred income taxes, net | -826 | 5,265 |
Provision for covered and non-covered loan and lease losses, net | 11,691 | 8,588 |
Stock-based compensation | 439 | 437 |
(Gain) loss on: | ' | ' |
Sale of securities | -4,366 | 0 |
Sale of mortgage loans held for sale | -1,242 | -1,631 |
Derivatives | 478 | 788 |
Early extinguishment of debt | 0 | -1,061 |
Foreclosed real estate | 1,500 | 1,793 |
Sale of other repossessed asset | 1,973 | 84 |
Sale of premises and equipment | -2 | 0 |
Originations of loans held-for-sale | -50,843 | -68,493 |
Proceeds from sale of loans held-for-sale | 24,653 | 29,347 |
Net (increase) decrease in: | ' | ' |
Trading securities | -41 | -1,292 |
Accrued interest receivable | -235 | -2,677 |
Servicing Assets | -169 | -748 |
Other assets | 4,935 | 1,446 |
Net increase (decrease) in: | ' | ' |
Accrued interest on deposits and borrowings | -1,382 | -391 |
Accrued expenses and other liabilities | 2,362 | -2,518 |
Net cash provided by (used in) operating activities | 40,644 | 21,905 |
Purchases of: | ' | ' |
Investment securities available-for-sale | -127,373 | -1,383 |
FHLB stock | -48,600 | -3,150 |
Maturities and Redemptions of [Abstract] | ' | ' |
Investment securities available-for-sale | 153,340 | 163,940 |
FHLB Stock | 48,620 | 8,103 |
Proceeds from sale of: | ' | ' |
Investment securities available for sale | 139,152 | 29,062 |
Foreclosed real estate and other repossessed assets | 13,392 | 6,036 |
Premises and equipment | 10 | 155 |
Origination and purchase of loans, excluding loans held-for-sale | -161,182 | -206,229 |
Principal repayment of loans, including covered loans | 141,118 | 161,912 |
Reimbursements from the FDIC on shared-loss agreements | -8,236 | -6,650 |
Additions to premises and equipment | -2,532 | -1,711 |
Net change in securities purchased under agreements to resell | 60,000 | 20,000 |
Net change in restricted cash | 67,029 | 5,060 |
Net cash provided by investing activities | 291,210 | 188,445 |
Net increase (decrease) in: | ' | ' |
Deposits | -79,572 | -133,055 |
Short Term Borrowings | 0 | -31,382 |
Securities sold under agreements to repurchase | -255,000 | -203,636 |
FHLB advances, federal funds purchased, and other borrowings | 23,311 | -91,185 |
Subordinated capital notes | 394 | -46,541 |
Exercise of stock options and restricted units lapsed, net | 76 | 0 |
Purchase of treasury stock | -10,393 | 0 |
Termination of derivative instruments | -181 | -9 |
Dividends paid on preferred stock | -3,465 | -3,465 |
Dividends paid on common stock | -3,657 | -2,737 |
Other financing activities | 0 | -39 |
Net cash used in financing activities | -328,487 | -512,049 |
Net change in cash and cash equivalents | 3,367 | -301,699 |
Cash and cash equivalents at beginning of period | 621,269 | 868,695 |
Cash and cash equivalents at end of period | 624,636 | 566,996 |
Supplemental Cash Flow Disclosure and Schedule of Non-cash Activities: | ' | ' |
Interest paid | 22,620 | 21,243 |
Income Taxes Paid | 0 | 0 |
Mortgage loans securitized into mortgage-backed securities | 23,228 | 27,679 |
Transfer from loans to foreclosed real estate and other repossessed assets | 25,106 | 15,459 |
Reclassification of loans held-for-investment portfolio to held-for-sale portfolio | 1,747 | 0 |
Reclassification of loans held-for-sale portfolio to investment portfolio | $33,125 | $0 |
Basis_of_Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2014 | |
Nature of Operations and Summary of Significanrt Accounting Policies | ' |
Nature Of Operations | ' |
NOTE 1 – ORGANIZATION, CONSOLIDATION AND BASIS OF PRESENTATION | |
Nature of Operations | |
OFG Bancorp (the “Company”) is a publicly-owned financial holding company incorporated under the laws of the Commonwealth of Puerto Rico. The Company operates through various subsidiaries including, a commercial bank, Oriental Bank (or the “Bank”), a securities broker-dealer, Oriental Financial Services Corp. (“Oriental Financial Services”), an insurance agency, Oriental Insurance, Inc. (“Oriental Insurance”) and a retirement plan administrator, Caribbean Pension Consultants, Inc. (“CPC”). The Company also has a special purpose entity, Oriental Financial (PR) Statutory Trust II (the “Statutory Trust II”). Through these subsidiaries and their respective divisions, the Company provides a wide range of banking and financial services such as commercial, consumer and mortgage lending, leasing, auto loans, financial planning, insurance sales, money management and investment banking and brokerage services, as well as corporate and individual trust services. On April 25, 2013, the Company changed its corporate name from Oriental Financial Group Inc. to OFG Bancorp. | |
On April 30, 2010, the Bank acquired certain assets and assumed certain deposits and other liabilities in the FDIC-assisted acquisition of Eurobank. On December 18, 2012, the Company purchased Banco Bilbao Vizcaya Argentaria Puerto Rico (“BBVAPR”), referred to as the “BBVAPR Acquisition.” | |
Significant Accounting Policies | ' |
Recent Accounting Developments | |
Reclassification of Defaulted Consumer Mortgage Loans upon Foreclosure - In January 2014, the Financial Accounting Standards Board (“FASB”) issued ASU 2014-04, Receivables—Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. This ASU clarifies when an in-substance repossession or foreclosure occurs that would require a transfer of the mortgage loan to other real estate owned (OREO). Under the ASU, repossession or foreclosure is deemed to have occurred when (1) the creditor obtains legal title to the residential real estate property or (2) the borrower conveys all interest in the residential real estate property to the creditor to satisfy the mortgage loan through completion of a deed in lieu of foreclosure or a similar legal agreement. The ASU will become effective for annual and interim periods beginning after December 15, 2014. The ASU can be adopted using either a modified retrospective method or a prospective transition method with the cumulative effect being recognized in the beginning retained earnings of the earliest annual period for which the ASU is adopted. The adoption of this guidance will not have a material effect on our consolidated financial statements, since the Company already follows the same basis approach. | |
Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carry-forward, a Similar Tax Loss, or a Tax Credit Carry-forward Exists In July 2013, FASB issued ASU No. 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carry-forward, a Similar Tax Loss, or a Tax Credit Carry-forward Exists (a consensus of the FASB Emerging Issues Task, which requires that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. When a net operating loss, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional taxes that would result from the disallowance of a tax position, or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purposes, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The assessment of whether a deferred tax asset is available is based on the unrecognized tax benefit and deferred tax asset that exist at the reporting date and should be made presuming disallowance of the tax position at the reporting date. Currently, there is no explicit guidance under U.S. GAAP on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The amendment of this guidance does not require new recurring disclosures. ASU 2013-11 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. Early adoption is permitted. The amendments of this ASU should be applied prospectively to all unrecognized tax benefits that exist at the effective date. Retrospective application is permitted. The adoption of this guidance did not have a material effect on our consolidated financial statements, since the Company already followed the same basis approach. |
Resticted_Cash
Resticted Cash | 3 Months Ended | |||||
Mar. 31, 2014 | ||||||
Restricted Cash And Investments Abstract | ' | |||||
Resticted Cash Disclosure | ' | |||||
NOTE 2 – RESTRICTED CASH | ||||||
The following table includes the composition of the restricted cash: | ||||||
March 31, | December 31, | |||||
2014 | 2013 | |||||
(In thousands) | ||||||
Deposits pledged as collateral to other financial institutions to secure: | ||||||
Securities sold under agreements to repurchase | $ | - | $ | 67,029 | ||
Derivatives | 2,980 | 2,980 | ||||
Obligations under agreement of loans sold with recourse | 12,190 | 12,190 | ||||
$ | 15,170 | $ | 82,199 | |||
The Company delivers cash as collateral to meet margin calls for some long term securities sold under agreements to repurchase. An alternative to cash delivery is entering into securities purchased under agreements to resell and use the securities collateral received as collateral to be delivered. At December 31, 2013, the possibility of entering into securities purchased under agreements to resell to receive securities collateral and then deliver it to counterparties securities sold under agreements to repurchase was very limited for market reasons. Therefore, at December 31, 2013, the Company had $67.0 million in cash collateral delivered. At March 31, 2014, the Company did not have cash collateral delivered. | ||||||
As part of the BBVAPR Acquisition, the Company assumed a contract with FNMA which required collateral to guarantee the repurchase, if necessary, of loans sold with recourse. At March 31, 2014 and December 31, 2013, the Company delivered cash amounting to $12.2 million. |
Securities_Purchased_Under_Agr
Securities Purchased Under Agreements And Investments | 3 Months Ended | |||||||||||||
Mar. 31, 2014 | ||||||||||||||
Investments [Abstract] | ' | |||||||||||||
Securities purchased under agreement to resell and investments | ' | |||||||||||||
NOTE 3 – SECURITIES PURCHASED UNDER AGREEMENTS TO RESELL AND INVESTMENTS | ||||||||||||||
Money Market Investments | ||||||||||||||
The Company considers as cash equivalents all money market instruments that are not pledged and that have maturities of three months or less at the date of acquisition. At March 31, 2014 and December 31, 2013, money market instruments included as part of cash and cash equivalents amounted to $7.7 million and $7.0 million, respectively. | ||||||||||||||
Securities Purchased Under Agreements to Resell | ||||||||||||||
Securities purchased under agreements to resell consist of short-term investments and are carried at the amounts at which the assets will be subsequently resold as specified in the respective agreements. At December 31, 2013, securities purchased under agreements to resell amounted to $60.0 million. At March 31, 2014, there were no securities purchased under agreements to resell. | ||||||||||||||
The amounts advanced under those agreements are reflected as assets in the consolidated statements of financial condition. It is the Company's policy to take possession of securities purchased under agreements to resell. Agreements with third parties specify the Company's right to request additional collateral based on its monitoring of the fair value of the underlying securities on a daily basis. The fair value of the collateral securities held by the Company on these transactions as of December 31, 2013 was approximately $64.6 million. | ||||||||||||||
Investment Securities | ||||||||||||||
The amortized cost, gross unrealized gains and losses, fair value, and weighted average yield of the securities owned by the Company at March 31, 2014 and December 31, 2013 were as follows: | ||||||||||||||
31-Mar-14 | ||||||||||||||
Gross | Gross | Weighted | ||||||||||||
Amortized | Unrealized | Unrealized | Fair | Average | ||||||||||
Cost | Gains | Losses | Value | Yield | ||||||||||
(In thousands) | ||||||||||||||
Available-for-sale | ||||||||||||||
Mortgage-backed securities | ||||||||||||||
FNMA and FHLMC certificates | $ | 1,093,717 | $ | 31,769 | $ | 4,690 | $ | 1,120,796 | 3.03% | |||||
GNMA certificates | 6,146 | 426 | 23 | 6,549 | 4.93% | |||||||||
CMOs issued by US Government-sponsored agencies | 211,308 | 351 | 4,139 | 207,520 | 1.78% | |||||||||
Total mortgage-backed securities | 1,311,171 | 32,546 | 8,852 | 1,334,865 | 2.84% | |||||||||
Investment securities | ||||||||||||||
US Treasury securities | 70,000 | - | - | 70,000 | 0.03% | |||||||||
Obligations of US Government-sponsored agencies | 9,539 | - | 42 | 9,497 | 1.23% | |||||||||
Obligations of Puerto Rico Government and political subdivisions | 22,367 | - | 5,298 | 17,069 | 5.32% | |||||||||
Other debt securities | 24,029 | 225 | - | 24,254 | 3.46% | |||||||||
Total investment securities | 125,935 | 225 | 5,340 | 120,820 | 1.72% | |||||||||
Total securities available for sale | $ | 1,437,106 | $ | 32,771 | $ | 14,192 | $ | 1,455,685 | 2.74% | |||||
31-Dec-13 | ||||||||||||||
Gross | Gross | Weighted | ||||||||||||
Amortized | Unrealized | Unrealized | Fair | Average | ||||||||||
Cost | Gains | Losses | Value | Yield | ||||||||||
(In thousands) | ||||||||||||||
Available-for-sale | ||||||||||||||
Mortgage-backed securities | ||||||||||||||
FNMA and FHLMC certificates | $ | 1,190,910 | $ | 33,089 | $ | 6,669 | $ | 1,217,330 | 2.93% | |||||
GNMA certificates | 7,406 | 433 | 24 | 7,815 | 4.92% | |||||||||
CMOs issued by US Government-sponsored agencies | 220,801 | 407 | 6,814 | 214,394 | 1.78% | |||||||||
Total mortgage-backed securities | 1,419,117 | 33,929 | 13,507 | 1,439,539 | 2.76% | |||||||||
Investment securities | ||||||||||||||
Obligations of US Government-sponsored agencies | 10,691 | - | 42 | 10,649 | 1.21% | |||||||||
Obligations of Puerto Rico Government and political subdivisions | 121,035 | - | 6,845 | 114,190 | 4.38% | |||||||||
Other debt securities | 24,200 | 167 | 320 | 24,047 | 3.46% | |||||||||
Total investment securities | 155,926 | 167 | 7,207 | 148,886 | 2.99% | |||||||||
Total securities available-for-sale | $ | 1,575,043 | $ | 34,096 | $ | 20,714 | $ | 1,588,425 | 2.89% | |||||
The amortized cost and fair value of the Company's investment securities at March 31, 2014, by contractual maturity, are shown in the next table. Securities not due on a single contractual maturity date, such as collateralized mortgage obligations, are classified in the period of final contractual maturity. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. | ||||||||||||||
31-Mar-14 | ||||||||||||||
Available-for-sale | ||||||||||||||
Amortized Cost | Fair Value | |||||||||||||
(In thousands) | ||||||||||||||
Mortgage-backed securities | ||||||||||||||
Due after 5 to 10 years | ||||||||||||||
FNMA and FHLMC certificates | $ | 26,294 | $ | 26,625 | ||||||||||
Total due after 5 to 10 years | 26,294 | 26,625 | ||||||||||||
Due after 10 years | ||||||||||||||
FNMA and FHLMC certificates | 1,067,423 | 1,094,171 | ||||||||||||
GNMA certificates | 6,146 | 6,549 | ||||||||||||
CMOs issued by US Government-sponsored agencies | 211,308 | 207,520 | ||||||||||||
Total due after 10 years | 1,284,877 | 1,308,240 | ||||||||||||
Total mortgage-backed securities | 1,311,171 | 1,334,865 | ||||||||||||
Investment securities | ||||||||||||||
Due in less than one year | ||||||||||||||
US Treasury securities | 70,000 | 70,000 | ||||||||||||
Other debt securities | 20,000 | 20,053 | ||||||||||||
Total due in less than one year | 90,000 | 90,053 | ||||||||||||
Due from 1 to 5 years | ||||||||||||||
Obligations of Puerto Rico Government and political subdivisions | 11,903 | 9,827 | ||||||||||||
Total due from 1 to 5 years | 11,903 | 9,827 | ||||||||||||
Due after 5 to 10 years | ||||||||||||||
Obligations of US Government and sponsored agencies | 9,539 | 9,497 | ||||||||||||
Total due after 5 to 10 years | 9,539 | 9,497 | ||||||||||||
Due after 10 years | ||||||||||||||
Obligations of Puerto Rico Government and political subdivisions | 10,464 | 7,242 | ||||||||||||
Other debt securities | 4,029 | 4,201 | ||||||||||||
Total due after 10 years | 14,493 | 11,443 | ||||||||||||
Total investment securities | 125,935 | 120,820 | ||||||||||||
Total securities available-for-sale | $ | 1,437,106 | $ | 1,455,685 | ||||||||||
At December 31, 2013 obligations of Puerto Rico Government and political subdivisions included a $98.7 million principal amount, LIBOR floating rate bond with maturity date of July 1, 2024, that was subject to mandatory tender for purchase by the end of the third year anniversary of the closing date, which was June 1, 2014. The bond was also subject to optional demand tender for purchase upon the occurrence and continuance of certain events, including (among others) the withdrawal, suspension or reduction below investment grade of the credit rating on any general obligation of the Commonwealth by any of the three major rating agencies. This bond was repaid by the issuer on March 1, 2014. | ||||||||||||||
The Company, as part of its asset/liability management, may purchase U.S. Treasury securities and U.S. government-sponsored agency discount notes close to their maturities as alternatives to cash deposits at correspondent banks or as a short term vehicle to reinvest the proceeds of sale transactions until investment securities with attractive yields can be purchased. During the quarter ended March 31, 2014, the Company sold $24.0 million of available-for-sale GNMA certificates that were sold as part of its recurring mortgage loan origination and securitization activities. These sales did not realize any gains or losses during such period. In addition, during the quarter ended March 31, 2014, there were certain sales of available-for-sale securities because the Company believed that gains could be realized and that there were good opportunities to invest the proceeds in other investment securities with attractive yields and terms that would allow the Company to continue protecting its net interest margin. | ||||||||||||||
For the quarter ended March 31, 2014 the Company recorded a net gain on sale of securities of $4.4 million. The tables below present the gross realized gains by category for such period. There was no realized gain or loss for the quarter ended March 31, 2013. | ||||||||||||||
Quarter Ended March 31, 2014 | ||||||||||||||
Book Value | Gross | Gross | ||||||||||||
Description | Sale Price | at Sale | Gains | Losses | ||||||||||
(In thousands) | ||||||||||||||
Sale of securities available-for-sale | ||||||||||||||
Mortgage-backed securities | ||||||||||||||
FNMA and FHLMC certificates | $ | 115,159 | $ | 110,792 | $ | 4,366 | $ | - | ||||||
GNMA certificates | 23,993 | 23,993 | - | - | ||||||||||
Total | $ | 139,152 | $ | 134,785 | $ | 4,366 | $ | - | ||||||
The following tables show the Company's gross unrealized losses and fair value of investment securities available-for-sale, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at March 31, 2014 and December 31, 2013: | ||||||||||||||
31-Mar-14 | ||||||||||||||
12 months or more | ||||||||||||||
Amortized | Unrealized | Fair | ||||||||||||
Cost | Loss | Value | ||||||||||||
(In thousands) | ||||||||||||||
Securities available-for-sale | ||||||||||||||
CMOs issued by US Government-sponsored agencies | $ | 1,897 | $ | 163 | $ | 1,734 | ||||||||
Obligations of Puerto Rico Government and political subdivisions | 22,367 | 5,298 | 17,069 | |||||||||||
GNMA certificates | 80 | 10 | 70 | |||||||||||
$ | 24,344 | $ | 5,471 | $ | 18,873 | |||||||||
Less than 12 months | ||||||||||||||
Amortized | Unrealized | Fair | ||||||||||||
Cost | Loss | Value | ||||||||||||
(In thousands) | ||||||||||||||
Securities available-for-sale | ||||||||||||||
CMOs issued by US Government-sponsored agencies | $ | 177,882 | $ | 3,976 | $ | 173,906 | ||||||||
FNMA and FHLMC certificates | 214,926 | 4,690 | 210,236 | |||||||||||
Obligations of US government and sponsored agencies | 9,539 | 42 | 9,497 | |||||||||||
GNMA certificates | 121 | 13 | 108 | |||||||||||
$ | 402,468 | $ | 8,721 | $ | 393,747 | |||||||||
Total | ||||||||||||||
Amortized | Unrealized | Fair | ||||||||||||
Cost | Loss | Value | ||||||||||||
(In thousands) | ||||||||||||||
Securities available-for-sale | ||||||||||||||
CMOs issued by US Government-sponsored agencies | $ | 179,779 | $ | 4,139 | $ | 175,640 | ||||||||
FNMA and FHLMC certificates | 214,926 | 4,690 | 210,236 | |||||||||||
Obligations of Puerto Rico Government and political subdivisions | 22,367 | 5,298 | 17,069 | |||||||||||
Obligations of US government and sponsored agencies | 9,539 | 42 | 9,497 | |||||||||||
GNMA certificates | 201 | 23 | 178 | |||||||||||
$ | 426,812 | $ | 14,192 | $ | 412,620 | |||||||||
31-Dec-13 | ||||||||||||||
12 months or more | ||||||||||||||
Amortized | Unrealized | Fair | ||||||||||||
Cost | Loss | Value | ||||||||||||
(In thousands) | ||||||||||||||
Securities available-for-sale | ||||||||||||||
Obligations of Puerto Rico Government and political subdivisions | $ | 20,845 | $ | 5,470 | $ | 15,375 | ||||||||
CMOs issued by US Government-sponsored agencies | 2,559 | 237 | 2,322 | |||||||||||
GNMA certificates | 81 | 11 | 70 | |||||||||||
$ | 23,485 | $ | 5,718 | $ | 17,767 | |||||||||
Less than 12 months | ||||||||||||||
Amortized | Unrealized | Fair | ||||||||||||
Cost | Loss | Value | ||||||||||||
(In thousands) | ||||||||||||||
Securities available-for-sale | ||||||||||||||
Obligations of Puerto Rico Government and political subdivisions | $ | 100,190 | $ | 1,375 | $ | 98,815 | ||||||||
CMOs issued by US Government-sponsored agencies | 182,661 | 6,577 | 176,084 | |||||||||||
GNMA certificates | 122 | 13 | 109 | |||||||||||
FNMA and FHLMC certificates | 220,913 | 6,669 | 214,244 | |||||||||||
Obligations of US Government and sponsored agencies | 10,691 | 42 | 10,649 | |||||||||||
Other debt securities | 20,000 | 320 | 19,680 | |||||||||||
$ | 534,577 | $ | 14,996 | $ | 519,581 | |||||||||
Total | ||||||||||||||
Amortized | Unrealized | Fair | ||||||||||||
Cost | Loss | Value | ||||||||||||
(In thousands) | ||||||||||||||
Securities available-for-sale | ||||||||||||||
Obligations of Puerto Rico Government and political subdivisions | $ | 121,035 | $ | 6,845 | $ | 114,190 | ||||||||
CMOs issued by US Government-sponsored agencies | 185,220 | 6,814 | 178,406 | |||||||||||
GNMA certificates | 203 | 24 | 179 | |||||||||||
FNMA and FHLMC certificates | 220,913 | 6,669 | 214,244 | |||||||||||
Obligations of US Government and sponsored agencies | 10,691 | 42 | 10,649 | |||||||||||
Other debt securities | 20,000 | 320 | 19,680 | |||||||||||
$ | 558,062 | $ | 20,714 | $ | 537,348 | |||||||||
The valuations of the investment securities are performed on a monthly basis. Moreover, the Company conducts quarterly reviews to identify and evaluate each investment in an unrealized loss position for other-than-temporary impairment. Any portion of a decline in value associated with credit loss is recognized in income with the remaining noncredit-related component recognized in other comprehensive income. A credit loss is determined by assessing whether the amortized cost basis of the security will be recovered by comparing the present value of cash flows expected to be collected from the security, discounted at the rate equal to the yield used to accrete current and prospective beneficial interest for the security. The shortfall of the present value of the cash flows expected to be collected in relation to the amortized cost basis is considered to be the “credit loss.” Other-than-temporary impairment analysis is based on estimates that depend on market conditions and are subject to further change over time. In addition, while the Company believes that the methodology used to value these exposures is reasonable, the methodology is subject to continuing refinement, including those made as a result of market developments. Consequently, it is reasonably possible that changes in estimates or conditions could result in the need to recognize additional other-than-temporary impairment charges in the future. | ||||||||||||||
Most of the investments in an unrealized loss position at March 31, 2014 ($404.4 million or 95%) consist of securities issued or guaranteed by the U.S. Treasury or U.S. government-sponsored agencies, all of which are highly liquid securities that have a large and efficient secondary market. Their aggregate losses and their variability from period to period are the result of changes in market conditions, and not due to the repayment capacity or creditworthiness of the issuers or guarantors of such securities. | ||||||||||||||
The remaining investments in an unrealized loss position at March 31, 2014 ($22.4 million or 5%) consist of obligations issued or collateralized by the government of Puerto Rico and its political subdivisions or instrumentalities. The recent decline in the market value of these securities is mainly attributed to an increase in volatility as a result of changes in market conditions that reflect the significant economic and fiscal challenges that Puerto Rico is facing, including a protracted economic recession, sizable government debt-service obligations and structural budget deficits, high unemployment and a shrinking population. As of March 31, 2014, the Company analyzed these investments under a plausible set of scenarios that included the possibility of a further downgrade in the credit ratings of the Commonwealth, and also considered numerous factors that, in the Company's view, support the ability of the Commonwealth to continue servicing its debt obligations. Such factors include (i) the collateralization and sources of repayment for such debt obligations; (ii) the government's efforts to increase revenues and reduce expenses to tackle its recurrent budget deficits; (iii) the Commonwealth's constitutional framework that provides that “public debt” (e.g., general obligation bonds such as the $98.7 million principal amount Puerto Rico government bond owned by the Company, and repaid by the issuer on March 1, 2014) constitutes a first claim on available Commonwealth resources; and (iv) the Commonwealth's compliance and commitment to its contractual debt obligations. In addition, the Company believes it is probable that it will collect all amounts due according to the contractual terms of its Puerto Rico government bonds. Based on these factors, the Company expects that such bonds will be repaid in full when due, and given that the Company does not have the intent to sell any such bonds in an unrealized loss position, the Company does not consider them to be other-than-temporarily impaired as of March 31, 2014. | ||||||||||||||
Loans
Loans | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Loans Receivable [Abstract] | ' | ||||||||||||||||||||
LOANS RECEIVABLE | ' | ||||||||||||||||||||
NOTE 4 - LOANS | |||||||||||||||||||||
The Company's loan portfolio is composed of covered loans and non-covered loans. The Company presents loans subject to the loss sharing agreements as “covered loans” in the tables below, and loans that are not subject to FDIC loss sharing agreements as “non-covered loans.” The risks of the FDIC-assisted Eurobank acquisition acquired loans are different from those loans not covered under the FDIC loss sharing agreements because of the loss protection provided by the FDIC. Also, loans acquired in the BBVAPR Acquisition are included as non-covered loans in the unaudited consolidated statements of financial condition. Non-covered loans are further segregated between originated and other loans, acquired loans accounted for under ASC 310-20 (loans with revolving feature and/or acquired at a premium), and acquired loans accounted for under ASC 310-30 (loans acquired with deteriorated credit quality, including those by analogy). | |||||||||||||||||||||
The composition of the Company's loan portfolio at March 31, 2014 and December 31, 2013 was as follows: | |||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Loans not covered under shared-loss agreements with FDIC: | |||||||||||||||||||||
Originated and other loans and leases held for investment: | |||||||||||||||||||||
Mortgage | $ | 782,150 | $ | 766,265 | |||||||||||||||||
Commercial | 1,170,145 | 1,127,657 | |||||||||||||||||||
Consumer | 142,492 | 127,744 | |||||||||||||||||||
Auto and leasing | 447,940 | 379,874 | |||||||||||||||||||
2,542,727 | 2,401,540 | ||||||||||||||||||||
Acquired loans: | |||||||||||||||||||||
Accounted for under ASC 310-20 (Loans with revolving feature and/or | |||||||||||||||||||||
acquired at a premium) | |||||||||||||||||||||
Commercial | 71,577 | 77,681 | |||||||||||||||||||
Consumer | 52,049 | 56,174 | |||||||||||||||||||
Auto | 268,865 | 301,584 | |||||||||||||||||||
392,491 | 435,439 | ||||||||||||||||||||
Accounted for under ASC 310-30 (Loans acquired with deteriorated | |||||||||||||||||||||
credit quality, including those by analogy) | |||||||||||||||||||||
Mortgage | 703,454 | 717,904 | |||||||||||||||||||
Commercial | 532,695 | 545,117 | |||||||||||||||||||
Construction | 122,693 | 126,427 | |||||||||||||||||||
Consumer | 53,310 | 63,620 | |||||||||||||||||||
Auto | 341,889 | 379,145 | |||||||||||||||||||
1,754,041 | 1,832,213 | ||||||||||||||||||||
4,689,259 | 4,669,192 | ||||||||||||||||||||
Deferred loan cost , net | 2,318 | 1,035 | |||||||||||||||||||
Loans receivable | 4,691,577 | 4,670,227 | |||||||||||||||||||
Allowance for loan and lease losses on non-covered loans | -56,183 | -54,298 | |||||||||||||||||||
Loans receivable, net | 4,635,394 | 4,615,929 | |||||||||||||||||||
Mortgage loans held-for-sale | 19,355 | 46,529 | |||||||||||||||||||
Total loans not covered under shared-loss agreements with FDIC, net | 4,654,749 | 4,662,458 | |||||||||||||||||||
Loans covered under shared-loss agreements with FDIC: | |||||||||||||||||||||
Loans secured by 1-4 family residential properties | 124,239 | 121,748 | |||||||||||||||||||
Construction and development secured by 1-4 family residential properties | 18,254 | 17,304 | |||||||||||||||||||
Commercial and other construction | 253,804 | 264,249 | |||||||||||||||||||
Consumer | 5,769 | 6,119 | |||||||||||||||||||
Leasing | 197 | 270 | |||||||||||||||||||
Total loans covered under shared-loss agreements with FDIC | 402,263 | 409,690 | |||||||||||||||||||
Allowance for loan and lease losses on covered loans | -54,398 | -52,729 | |||||||||||||||||||
Total loans covered under shared-loss agreements with FDIC, net | 347,865 | 356,961 | |||||||||||||||||||
Total loans, net | $ | 5,002,614 | $ | 5,019,419 | |||||||||||||||||
Non-covered Loans | |||||||||||||||||||||
Originated and Other Loans and Leases Held for Investment | |||||||||||||||||||||
The Company's originated and other loans held for investment are encompassed within four portfolio segments: mortgage, commercial, consumer, and auto and leasing. | |||||||||||||||||||||
The following tables present the aging of the recorded investment in gross originated and other loans held for investment as of March 31, 2014 and December 31, 2013 by class of loans. Mortgage loans past due included delinquent loans in the GNMA buy-back option program. Servicers of loans underlying GNMA mortgage-backed securities must report as their own assets the defaulted loans that they have the option (but not the obligation) to repurchase, even when they elect not to exercise that option. | |||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||
Loans 90+ | |||||||||||||||||||||
Days Past | |||||||||||||||||||||
Due and | |||||||||||||||||||||
30-59 Days | 60-89 Days | 90+ Days | Total Past | Still | |||||||||||||||||
Past Due | Past Due | Past Due | Due | Current | Total Loans | Accruing | |||||||||||||||
(In thousands) | |||||||||||||||||||||
Mortgage | |||||||||||||||||||||
Traditional (by origination year): | |||||||||||||||||||||
Up to the year 2002 | $ | 5,330 | $ | 2,620 | $ | 2,877 | $ | 10,827 | $ | 61,269 | $ | 72,096 | $ | 91 | |||||||
Years 2003 and 2004 | 5,494 | 2,445 | 2,342 | 10,281 | 53,234 | 63,515 | - | ||||||||||||||
Year 2005 | 6,620 | 2,288 | 6,289 | 15,197 | 72,621 | 87,818 | - | ||||||||||||||
Year 2006 | 10,151 | 4,376 | 4,474 | 19,001 | 97,903 | 116,904 | - | ||||||||||||||
Years 2007, 2008 and 2009 | 3,807 | 2,025 | 4,850 | 10,682 | 87,158 | 97,840 | - | ||||||||||||||
Years 2010, 2011, 2012, 2013 and 2014 | 3,890 | 1,122 | 4,939 | 9,951 | 172,216 | 182,167 | 167 | ||||||||||||||
35,292 | 14,876 | 25,771 | 75,939 | 544,401 | 620,340 | 258 | |||||||||||||||
Non-traditional | 1,744 | 470 | 2,425 | 4,639 | 35,151 | 39,790 | - | ||||||||||||||
Loss mitigation program | 8,149 | 6,485 | 12,559 | 27,193 | 58,812 | 86,005 | 2,254 | ||||||||||||||
45,185 | 21,831 | 40,755 | 107,771 | 638,364 | 746,135 | 2,512 | |||||||||||||||
Home equity secured personal loans | - | - | 138 | 138 | 595 | 733 | - | ||||||||||||||
GNMA's buy-back option program | - | - | 35,282 | 35,282 | - | 35,282 | - | ||||||||||||||
45,185 | 21,831 | 76,175 | 143,191 | 638,959 | 782,150 | 2,512 | |||||||||||||||
Commercial | |||||||||||||||||||||
Commercial secured by real estate: | |||||||||||||||||||||
Corporate | - | - | - | - | 62,935 | 62,935 | - | ||||||||||||||
Institutional | - | - | - | - | 9,833 | 9,833 | - | ||||||||||||||
Middle market | - | - | 1,531 | 1,531 | 168,222 | 169,753 | - | ||||||||||||||
Retail | 1,241 | 277 | 4,780 | 6,298 | 150,396 | 156,694 | - | ||||||||||||||
Floor plan | - | - | - | - | 1,699 | 1,699 | - | ||||||||||||||
Real estate | - | - | - | - | 11,837 | 11,837 | - | ||||||||||||||
1,241 | 277 | 6,311 | 7,829 | 404,922 | 412,751 | - | |||||||||||||||
Other commercial and industrial: | |||||||||||||||||||||
Corporate | - | - | - | - | 28,475 | 28,475 | - | ||||||||||||||
Institutional | - | - | - | - | 553,249 | 553,249 | - | ||||||||||||||
Middle market | - | - | 513 | 513 | 82,420 | 82,933 | - | ||||||||||||||
Retail | 609 | 292 | 1,622 | 2,523 | 64,532 | 67,055 | - | ||||||||||||||
Floor plan | - | - | - | - | 25,682 | 25,682 | - | ||||||||||||||
609 | 292 | 2,135 | 3,036 | 754,358 | 757,394 | - | |||||||||||||||
1,850 | 569 | 8,446 | 10,865 | 1,159,280 | 1,170,145 | - | |||||||||||||||
31-Mar-14 | |||||||||||||||||||||
Loans 90+ | |||||||||||||||||||||
Days Past | |||||||||||||||||||||
Due and | |||||||||||||||||||||
30-59 Days | 60-89 Days | 90+ Days | Total Past | Still | |||||||||||||||||
Past Due | Past Due | Past Due | Due | Current | Total Loans | Accruing | |||||||||||||||
(In thousands) | |||||||||||||||||||||
Consumer | |||||||||||||||||||||
Credit cards | 263 | 171 | 354 | 788 | 14,702 | 15,490 | - | ||||||||||||||
Overdrafts | 28 | 11 | 4 | 43 | 288 | 331 | - | ||||||||||||||
Personal lines of credit | 60 | 99 | 57 | 216 | 1,718 | 1,934 | - | ||||||||||||||
Personal loans | 1,418 | 524 | 248 | 2,190 | 105,847 | 108,037 | - | ||||||||||||||
Cash collateral personal loans | 375 | 46 | 16 | 437 | 16,263 | 16,700 | - | ||||||||||||||
2,144 | 851 | 679 | 3,674 | 138,818 | 142,492 | - | |||||||||||||||
Auto and leasing | 33,788 | 8,559 | 5,872 | 48,219 | 399,721 | 447,940 | - | ||||||||||||||
Total | $ | 82,967 | $ | 31,810 | $ | 91,172 | $ | 205,949 | $ | 2,336,778 | $ | 2,542,727 | $ | 2,512 | |||||||
31-Dec-13 | |||||||||||||||||||||
Loans 90+ | |||||||||||||||||||||
Days Past | |||||||||||||||||||||
Due and | |||||||||||||||||||||
30-59 Days | 60-89 Days | 90+ Days | Total Past | Still | |||||||||||||||||
Past Due | Past Due | Past Due | Due | Current | Total Loans | Accruing | |||||||||||||||
(In thousands) | |||||||||||||||||||||
Mortgage | |||||||||||||||||||||
Traditional (by origination year): | |||||||||||||||||||||
Up to the year 2002 | $ | 6,697 | $ | 1,635 | $ | 3,408 | $ | 11,740 | $ | 64,772 | $ | 76,512 | $ | 79 | |||||||
Years 2003 and 2004 | 4,722 | 2,163 | 1,845 | 8,730 | 56,387 | 65,117 | - | ||||||||||||||
Year 2005 | 8,527 | 2,119 | 4,808 | 15,454 | 74,087 | 89,541 | - | ||||||||||||||
Year 2006 | 12,055 | 4,312 | 4,418 | 20,785 | 99,537 | 120,322 | - | ||||||||||||||
Years 2007, 2008 and 2009 | 3,464 | 1,104 | 4,663 | 9,231 | 91,919 | 101,150 | 152 | ||||||||||||||
Years 2010, 2011, 2012 and 2013 | 3,923 | 1,609 | 4,453 | 9,985 | 139,561 | 149,546 | 459 | ||||||||||||||
39,388 | 12,942 | 23,595 | 75,925 | 526,263 | 602,188 | 690 | |||||||||||||||
Non-traditional | 3,217 | 1,162 | 2,311 | 6,690 | 35,412 | 42,102 | - | ||||||||||||||
Loss mitigation program | 9,759 | 5,560 | 13,191 | 28,510 | 57,808 | 86,318 | 2,185 | ||||||||||||||
52,364 | 19,664 | 39,097 | 111,125 | 619,483 | 730,608 | 2,875 | |||||||||||||||
Home equity secured personal loans | - | - | 138 | 138 | 598 | 736 | - | ||||||||||||||
GNMA's buy-back option program | - | - | 34,921 | 34,921 | - | 34,921 | - | ||||||||||||||
52,364 | 19,664 | 74,156 | 146,184 | 620,081 | 766,265 | 2,875 | |||||||||||||||
Commercial | |||||||||||||||||||||
Commercial secured by real estate: | |||||||||||||||||||||
Corporate | - | - | - | - | 54,796 | 54,796 | - | ||||||||||||||
Institutional | - | - | - | - | 4,050 | 4,050 | - | ||||||||||||||
Middle market | 1,356 | - | 10,294 | 11,650 | 149,933 | 161,583 | - | ||||||||||||||
Retail | 4,253 | 1,015 | 3,190 | 8,458 | 158,184 | 166,642 | - | ||||||||||||||
Floor plan | - | - | - | - | 1,835 | 1,835 | - | ||||||||||||||
Real estate | - | - | - | - | 11,655 | 11,655 | - | ||||||||||||||
5,609 | 1,015 | 13,484 | 20,108 | 380,453 | 400,561 | - | |||||||||||||||
Other commercial and industrial: | |||||||||||||||||||||
Corporate | 236 | - | - | 236 | 32,362 | 32,598 | - | ||||||||||||||
Institutional | - | - | - | - | 536,445 | 536,445 | - | ||||||||||||||
Middle market | - | 299 | 1,134 | 1,433 | 57,464 | 58,897 | - | ||||||||||||||
Retail | 1,830 | 552 | 539 | 2,921 | 58,589 | 61,510 | - | ||||||||||||||
Floor plan | 39 | - | - | 39 | 37,607 | 37,646 | - | ||||||||||||||
2,105 | 851 | 1,673 | 4,629 | 722,467 | 727,096 | - | |||||||||||||||
7,714 | 1,866 | 15,157 | 24,737 | 1,102,920 | 1,127,657 | - | |||||||||||||||
31-Dec-13 | |||||||||||||||||||||
Loans 90+ | |||||||||||||||||||||
Days Past | |||||||||||||||||||||
Due and | |||||||||||||||||||||
30-59 Days | 60-89 Days | 90+ Days | Total Past | Still | |||||||||||||||||
Past Due | Past Due | Past Due | Due | Current | Total Loans | Accruing | |||||||||||||||
(In thousands) | |||||||||||||||||||||
Consumer | |||||||||||||||||||||
Credit cards | 287 | 168 | 232 | 687 | 14,554 | 15,241 | - | ||||||||||||||
Overdrafts | 46 | 4 | - | 50 | 322 | 372 | - | ||||||||||||||
Personal lines of credit | 33 | 38 | 66 | 137 | 1,844 | 1,981 | - | ||||||||||||||
Personal loans | 1,324 | 399 | 352 | 2,075 | 92,485 | 94,560 | - | ||||||||||||||
Cash collateral personal loans | 324 | 43 | - | 367 | 15,223 | 15,590 | - | ||||||||||||||
2,014 | 652 | 650 | 3,316 | 124,428 | 127,744 | - | |||||||||||||||
Auto and leasing | 25,531 | 9,437 | 5,089 | 40,057 | 339,817 | 379,874 | - | ||||||||||||||
Total | $ | 87,623 | $ | 31,619 | $ | 95,052 | $ | 214,294 | $ | 2,187,246 | $ | 2,401,540 | $ | 2,875 | |||||||
At March 31, 2014, the increase in delinquencies in the consumer and the auto and leasing portfolios compared to December 31, 2013 is mainly attributed to the fact that non-performing loans of acquired non-covered loan portfolio were accounted for under ASC 310-30. At March 31, 2014 such portfolios are increasing as new originations are ramping up the balances outstanding. More than a year from the acquisition, those portfolios are beginning to reflect normal delinquency levels as seasoned portfolios. | |||||||||||||||||||||
At March 31, 2014, the Company had $539.9 million in loans granted to the Puerto Rico government, including its instrumentalities, public corporations and municipalities as part of the institutional commercial loan segment. This entire amount was current at March 31, 2014. | |||||||||||||||||||||
Acquired Loans Accounted for under ASC 310-20 (Loans with revolving feature and/or acquired at a premium) | |||||||||||||||||||||
Credit cards, retail and commercial revolving lines of credits, floor plans and performing auto loans with FICO scores over 660 acquired at a premium as part of the non-covered portfolio are accounted for under the guidance of ASC 310-20, which requires that any contractually required loan payment receivable in excess of the Company's initial investment in the loans be accreted into interest income on a level-yield basis over the life of the loan. Loans accounted for under ASC 310-20 are placed on non-accrual status when past due in accordance with the Company's non-accrual policy and any accretion of discount or amortization of premium is discontinued. Loans acquired in the non-covered portfolio that were accounted for under the provisions of ASC 310-20 are removed from the acquired loan category at the end of the reporting period upon refinancing, renewal or normal re-underwriting. | |||||||||||||||||||||
The following table presents the aging of the recorded investment in gross acquired loans accounted for under ASC 310-20 as of March 31, 2014 and December 31, 2013, by class of loans: | |||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||
Loans 90+ | |||||||||||||||||||||
Days Past | |||||||||||||||||||||
Due and | |||||||||||||||||||||
30-59 Days | 60-89 Days | 90+ Days | Total Past | Still | |||||||||||||||||
Past Due | Past Due | Past Due | Due | Current | Total Loans | Accruing | |||||||||||||||
(In thousands) | |||||||||||||||||||||
Commercial | |||||||||||||||||||||
Commercial secured by real estate | |||||||||||||||||||||
Corporate | $ | - | $ | - | $ | - | $ | - | $ | 11,079 | $ | 11,079 | $ | - | |||||||
Retail | 47 | - | 603 | 650 | 3,651 | 4,301 | - | ||||||||||||||
Floor plan | - | - | 101 | 101 | 2,651 | 2,752 | - | ||||||||||||||
47 | - | 704 | 751 | 17,381 | 18,132 | - | |||||||||||||||
Other commercial and industrial | |||||||||||||||||||||
Corporate | 14 | - | 82 | 96 | 2,851 | 2,947 | - | ||||||||||||||
Institutional | - | - | - | - | 221 | 221 | - | ||||||||||||||
Retail | 645 | 128 | 716 | 1,489 | 15,727 | 17,216 | - | ||||||||||||||
Floor plan | 84 | - | 126 | 210 | 32,851 | 33,061 | - | ||||||||||||||
743 | 128 | 924 | 1,795 | 51,650 | 53,445 | - | |||||||||||||||
790 | 128 | 1,628 | 2,546 | 69,031 | 71,577 | - | |||||||||||||||
Consumer | |||||||||||||||||||||
Credit cards | 1,413 | 781 | 2,078 | 4,272 | 44,109 | 48,381 | - | ||||||||||||||
Personal loans | 105 | 83 | 57 | 245 | 3,423 | 3,668 | - | ||||||||||||||
1,518 | 864 | 2,135 | 4,517 | 47,532 | 52,049 | - | |||||||||||||||
Auto | 13,161 | 3,522 | 1,342 | 18,025 | 250,840 | 268,865 | - | ||||||||||||||
Total | $ | 15,469 | $ | 4,514 | $ | 5,105 | $ | 25,088 | $ | 367,403 | $ | 392,491 | $ | - | |||||||
31-Dec-13 | |||||||||||||||||||||
Loans 90+ | |||||||||||||||||||||
Days Past | |||||||||||||||||||||
Due and | |||||||||||||||||||||
30-59 Days | 60-89 Days | 90+ Days | Total Past | Still | |||||||||||||||||
Past Due | Past Due | Past Due | Due | Current | Total Loans | Accruing | |||||||||||||||
(In thousands) | |||||||||||||||||||||
Commercial | |||||||||||||||||||||
Commercial secured by real estate | |||||||||||||||||||||
Corporate | $ | - | $ | - | $ | - | $ | - | $ | 10,166 | $ | 10,166 | $ | - | |||||||
Retail | 431 | 331 | 868 | 1,630 | 4,140 | 5,770 | - | ||||||||||||||
Floor plan | - | - | 101 | 101 | 2,576 | 2,677 | - | ||||||||||||||
431 | 331 | 969 | 1,731 | 16,882 | 18,613 | - | |||||||||||||||
Other commercial and industrial | |||||||||||||||||||||
Corporate | 14 | 83 | - | 97 | 9,696 | 9,793 | - | ||||||||||||||
Retail | 1,717 | 1,418 | 659 | 3,794 | 23,544 | 27,338 | - | ||||||||||||||
Floor plan | 35 | 193 | 18 | 246 | 21,691 | 21,937 | - | ||||||||||||||
1,766 | 1,694 | 677 | 4,137 | 54,931 | 59,068 | - | |||||||||||||||
2,197 | 2,025 | 1,646 | 5,868 | 71,813 | 77,681 | - | |||||||||||||||
Consumer | |||||||||||||||||||||
Credit cards | 2,217 | 1,200 | 2,068 | 5,485 | 46,714 | 52,199 | - | ||||||||||||||
Personal loans | 196 | 7 | 91 | 294 | 3,681 | 3,975 | - | ||||||||||||||
2,413 | 1,207 | 2,159 | 5,779 | 50,395 | 56,174 | - | |||||||||||||||
Auto | 12,534 | 3,616 | 1,608 | 17,758 | 283,826 | 301,584 | - | ||||||||||||||
Total | $ | 17,144 | $ | 6,848 | $ | 5,413 | $ | 29,405 | $ | 406,034 | $ | 435,439 | $ | - | |||||||
Acquired Loans Accounted for under ASC 310-30 (including those accounted for under ASC 310-30 by analogy) | |||||||||||||||||||||
Loans acquired as part of the non-covered portfolio, except for credit cards, retail and commercial revolving lines of credits, floor plans and performing auto loans with FICO scores over 660 acquired at a premium, are accounted for by the Company in accordance with ASC 310-30. | |||||||||||||||||||||
The carrying amount corresponding to non-covered loans acquired with deteriorated credit quality, including those accounted under ASC 310-30 by analogy, in the statements of financial condition at March 31, 2014 and December 31, 2013 is as follows: | |||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Contractual required payments receivable | $2,799,336 | $2,929,353 | |||||||||||||||||||
Less: Non-accretable discount | 563,294 | 579,587 | |||||||||||||||||||
Cash expected to be collected | 2,236,042 | 2,349,766 | |||||||||||||||||||
Less: Accretable yield | 482,001 | 517,553 | |||||||||||||||||||
Carrying amount | $1,754,041 | $1,832,213 | |||||||||||||||||||
At March 31, 2014 and December 31, 2013, the Company had $196.1 million and $180.5 million, respectively, in loans granted to the Puerto Rico government, including its instrumentalities, public corporations and municipalities as part of its non-covered acquired loans accounted for under ASC 310-30. | |||||||||||||||||||||
The following tables describe the accretable yield and non-accretable discount activity of acquired loans accounted for under ASC 310-30 for the quarters ended March 31, 2014 and 2013 | |||||||||||||||||||||
Quarter Ended March 31, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Accretable Yield Activity | |||||||||||||||||||||
Balance at beginning of period | $ | 517,553 | $ | 655,833 | |||||||||||||||||
Accretion | -40,269 | -47,668 | |||||||||||||||||||
Transfer from non-accretable discount | 4,717 | - | |||||||||||||||||||
Balance at end of period | $ | 482,001 | $ | 608,165 | |||||||||||||||||
Quarter Ended March 31, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Non-Accretable Discount Activity | |||||||||||||||||||||
Balance at beginning of period | $ | 579,587 | $ | 714,462 | |||||||||||||||||
Principal losses | -11,576 | -8,746 | |||||||||||||||||||
Transfer to accretable yield | -4,717 | - | |||||||||||||||||||
Balance at end of period | $ | 563,294 | $ | 705,716 | |||||||||||||||||
Covered Loans | |||||||||||||||||||||
The carrying amount of covered loans at March 31, 2014 and December 31, 2013 is as follows: | |||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Contractual required payments receivable | $ | 657,353 | $ | 702,126 | |||||||||||||||||
Less: Non-accretable discount | 107,323 | 129,477 | |||||||||||||||||||
Cash expected to be collected | 550,030 | 572,649 | |||||||||||||||||||
Less: Accretable yield | 147,767 | 162,959 | |||||||||||||||||||
Carrying amount, gross | 402,263 | 409,690 | |||||||||||||||||||
Less: Allowance for covered loan and lease losses | 54,398 | 52,729 | |||||||||||||||||||
Carrying amount, net | $ | 347,865 | $ | 356,961 | |||||||||||||||||
The following tables describe the accretable yield and non-accretable discount activity of covered loans for the quarters ended March 31, 2014 and 2013: | |||||||||||||||||||||
Quarter Ended March 31, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Accretable yield activity | |||||||||||||||||||||
Balance at beginning of period | $ | 162,959 | $ | 188,008 | |||||||||||||||||
Accretion | -23,388 | -20,229 | |||||||||||||||||||
Transfer from non-accretable discount | 8,196 | 6,328 | |||||||||||||||||||
Balance at end of period | $ | 147,767 | $ | 174,107 | |||||||||||||||||
Quarter Ended March 31, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Non-accretable discount activity | |||||||||||||||||||||
Balance at beginning of period | $ | 129,477 | $ | 237,555 | |||||||||||||||||
Principal losses | -13,958 | -16,991 | |||||||||||||||||||
Transfer to accretable yield | -8,196 | -6,328 | |||||||||||||||||||
Balance at end of period | $ | 107,323 | $ | 214,236 | |||||||||||||||||
Non-accrual Loans | |||||||||||||||||||||
The following table presents the recorded investment in loans in non-accrual status by class of loans as of March 31, 2014 and December 31, 2013: | |||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Originated and other loans and leases held for investment | |||||||||||||||||||||
Mortgage | |||||||||||||||||||||
Traditional (by origination year): | |||||||||||||||||||||
Up to the year 2002 | $ | 2,884 | $ | 3,428 | |||||||||||||||||
Years 2003 and 2004 | 2,359 | 1,845 | |||||||||||||||||||
Year 2005 | 6,667 | 4,922 | |||||||||||||||||||
Year 2006 | 4,555 | 4,418 | |||||||||||||||||||
Years 2007, 2008 and 2009 | 4,943 | 4,511 | |||||||||||||||||||
Years 2010, 2011, 2012, 2013 and 2014 | 8,342 | 7,818 | |||||||||||||||||||
29,750 | 26,942 | ||||||||||||||||||||
Non-traditional | 2,425 | 2,311 | |||||||||||||||||||
Loss mitigation program | 16,903 | 18,792 | |||||||||||||||||||
49,078 | 48,045 | ||||||||||||||||||||
Home equity secured personal loans | 138 | 138 | |||||||||||||||||||
49,216 | 48,183 | ||||||||||||||||||||
Commercial | |||||||||||||||||||||
Commercial secured by real estate | |||||||||||||||||||||
Middle market | 11,596 | 11,895 | |||||||||||||||||||
Retail | 8,760 | 7,208 | |||||||||||||||||||
20,356 | 19,103 | ||||||||||||||||||||
Other commercial and industrial | |||||||||||||||||||||
Middle market | 513 | 1,134 | |||||||||||||||||||
Retail | 2,923 | 2,485 | |||||||||||||||||||
Floor plan | - | 108 | |||||||||||||||||||
3,436 | 3,727 | ||||||||||||||||||||
23,792 | 22,830 | ||||||||||||||||||||
Consumer | |||||||||||||||||||||
Credit cards | 354 | 232 | |||||||||||||||||||
Overdrafts | 4 | - | |||||||||||||||||||
Personal lines of credit | 161 | 84 | |||||||||||||||||||
Personal loans | 547 | 485 | |||||||||||||||||||
Cash collateral personal loans | 18 | 4 | |||||||||||||||||||
1,084 | 805 | ||||||||||||||||||||
Auto and leasing | 6,047 | 5,089 | |||||||||||||||||||
$ | 80,139 | $ | 76,907 | ||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Acquired loans accounted under ASC 310-20 | |||||||||||||||||||||
Commercial | |||||||||||||||||||||
Commercial secured by real estate | |||||||||||||||||||||
Retail | $ | 688 | $ | 956 | |||||||||||||||||
Floor plan | 101 | 101 | |||||||||||||||||||
789 | 1,057 | ||||||||||||||||||||
Other commercial and industrial | |||||||||||||||||||||
Corporate | 96 | 97 | |||||||||||||||||||
Retail | 851 | 1,371 | |||||||||||||||||||
Floor plan | 126 | 18 | |||||||||||||||||||
1,073 | 1,486 | ||||||||||||||||||||
1,862 | 2,543 | ||||||||||||||||||||
Consumer | |||||||||||||||||||||
Credit cards | 2,076 | 2,068 | |||||||||||||||||||
Personal loans | 58 | 151 | |||||||||||||||||||
2,134 | 2,219 | ||||||||||||||||||||
Auto | 1,515 | 1,608 | |||||||||||||||||||
5,511 | 6,370 | ||||||||||||||||||||
Total non-accrual loans | $ | 85,650 | $ | 83,277 | |||||||||||||||||
Loans accounted for under ASC 310-30 are excluded from the above table as they are considered to be performing due to the application of the accretion method, in which these loans will accrete interest income over the remaining life of the loans using estimated cash flow analyses. | |||||||||||||||||||||
Effective April 24, 2013, delinquent residential mortgage loans insured or guaranteed under applicable FHA and VA programs are placed in non-accrual when they become 18 months or more past due, since they are insured loans. Before that date, they were placed in non-accrual when they became 90 days or more past due. | |||||||||||||||||||||
At March 31, 2014 and December 31, 2013, loans whose terms have been extended and which are classified as troubled-debt restructurings that are not included in non-accrual loans amounted to $70.8 million and $66.5 million, respectively, as they are performing under their new terms. |
Allowance_for_Loan_and_Lease_L
Allowance for Loan and Lease Losses | 3 Months Ended | |||||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||||
Loans Receivable [Abstract] | ' | |||||||||||||||||||||||
Allowance For Credit Losses Text Block | ' | |||||||||||||||||||||||
NOTE 5 – ALLOWANCE FOR LOAN AND LEASE LOSSES | ||||||||||||||||||||||||
The composition of the Company's allowance for loan and lease losses at March 31, 2014 and December 31, 2013 was as follows: | ||||||||||||||||||||||||
March 31, | December 31, | |||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Allowance for loans and lease losses on non-covered loans: | ||||||||||||||||||||||||
Originated and other loans and leases held for investment: | ||||||||||||||||||||||||
Mortgage | $ | 19,511 | $ | 19,937 | ||||||||||||||||||||
Commercial | 13,994 | 14,897 | ||||||||||||||||||||||
Consumer | 7,135 | 6,006 | ||||||||||||||||||||||
Auto and leasing | 8,731 | 7,866 | ||||||||||||||||||||||
Unallocated | 136 | 375 | ||||||||||||||||||||||
49,507 | 49,081 | |||||||||||||||||||||||
Acquired loans: | ||||||||||||||||||||||||
Accounted for under ASC 310-20 (Loans with revolving feature and/or | ||||||||||||||||||||||||
acquired at a premium) | ||||||||||||||||||||||||
Commercial | 867 | 926 | ||||||||||||||||||||||
Consumer | 504 | - | ||||||||||||||||||||||
Auto | 2,247 | 1,428 | ||||||||||||||||||||||
3,618 | 2,354 | |||||||||||||||||||||||
Accounted for under ASC 310-30 (Loans acquired with deteriorated | ||||||||||||||||||||||||
credit quality, including those by analogy) | ||||||||||||||||||||||||
Commercial | 2,653 | 1,713 | ||||||||||||||||||||||
Consumer | 405 | 418 | ||||||||||||||||||||||
Auto | - | 732 | ||||||||||||||||||||||
3,058 | 2,863 | |||||||||||||||||||||||
56,183 | 54,298 | |||||||||||||||||||||||
Allowance for loans and lease losses on covered loans: | ||||||||||||||||||||||||
Loans secured by 1-4 family residential properties | 14,221 | 12,495 | ||||||||||||||||||||||
Commercial and other construction | 39,562 | 39,619 | ||||||||||||||||||||||
Consumer | 615 | 615 | ||||||||||||||||||||||
54,398 | 52,729 | |||||||||||||||||||||||
Total allowance for loan and lease losses | $ | 110,581 | $ | 107,027 | ||||||||||||||||||||
Non-Covered Loans | ||||||||||||||||||||||||
The Company maintains an allowance for loan and lease losses at a level that management considers adequate to provide for probable losses based upon an evaluation of known and inherent risks. The Company's allowance for loan and lease losses policy provides for a detailed quarterly analysis of probable losses. The analysis includes a review of historical loan loss experience, value of underlying collateral, current economic conditions, financial condition of borrowers and other pertinent factors. While management uses available information in estimating probable loan losses, future additions to the allowance may be required based on factors beyond the Company's control. We also maintain an allowance for loan losses on acquired loans when: (i) for loans accounted for under ASC 310-30, there is deterioration in credit quality subsequent to acquisition, and (ii) for loans accounted for under ASC 310-20, the inherent losses in the loans exceed the remaining credit discount recorded at the time of acquisition. As part of the Company's continuous enhancement to the allowance for loan and lease losses methodology, during the quarter ended March 31, 2014, an assessment of the look-back period and historical loss factor was performed for auto and leasing and consumer loan portfolios based on the trends observed and their relation with the economic cycle as of the period ended March 31, 2014. As a result, the period was changed to 24 months from the previously determined 12 months. This change in the allowance for loan and lease losses' look back period for the consumer and auto and leasing portfolios is considered a change in accounting estimate as per ASC 250-10 provisions, where adjustments should be made prospectively. | ||||||||||||||||||||||||
Originated and Other Loans and Leases Held for Investment | ||||||||||||||||||||||||
The following tables present the activity in our allowance for loan and lease losses and the related recorded investment of the associated loans for our originated and other loans held for investment portfolio by segment for the periods indicated: | ||||||||||||||||||||||||
Quarter Ended March 31, 2014 | ||||||||||||||||||||||||
Auto and | ||||||||||||||||||||||||
Mortgage | Commercial | Consumer | Leasing | Unallocated | Total | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Allowance for loan and lease losses for non-covered originated and other loans: | ||||||||||||||||||||||||
Balance at beginning of period | $ | 19,937 | $ | 14,897 | $ | 6,006 | $ | 7,866 | $ | 375 | $ | 49,081 | ||||||||||||
Charge-offs | -1,214 | -419 | -838 | -4,645 | - | -7,116 | ||||||||||||||||||
Recoveries | 148 | 98 | 147 | 1,524 | - | 1,917 | ||||||||||||||||||
Provision for non-covered originated and other loan and lease losses | 640 | -582 | 1,820 | 3,986 | -239 | 5,625 | ||||||||||||||||||
Balance at end of period | $ | 19,511 | $ | 13,994 | $ | 7,135 | $ | 8,731 | $ | 136 | $ | 49,507 | ||||||||||||
31-Mar-14 | ||||||||||||||||||||||||
Mortgage | Commercial | Consumer | Auto and Leasing | Unallocated | Total | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Allowance for loan and lease losses on non-covered originated and other loans: | ||||||||||||||||||||||||
Ending allowance balance attributable to loans: | ||||||||||||||||||||||||
Individually evaluated for impairment | $ | 8,001 | $ | 1,704 | $ | - | $ | - | $ | - | $ | 9,705 | ||||||||||||
Collectively evaluated for impairment | 11,510 | 12,290 | 7,135 | 8,731 | 136 | 39,802 | ||||||||||||||||||
Total ending allowance balance | $ | 19,511 | $ | 13,994 | $ | 7,135 | $ | 8,731 | $ | 136 | $ | 49,507 | ||||||||||||
Loans: | ||||||||||||||||||||||||
Individually evaluated for impairment | $ | 87,744 | $ | 27,767 | $ | - | $ | - | $ | - | $ | 115,511 | ||||||||||||
Collectively evaluated for impairment | 694,406 | 1,142,378 | 142,492 | 447,940 | - | 2,427,216 | ||||||||||||||||||
Total ending loan balance | $ | 782,150 | $ | 1,170,145 | $ | 142,492 | $ | 447,940 | $ | - | $ | 2,542,727 | ||||||||||||
Quarter Ended March 31, 2013 | ||||||||||||||||||||||||
Mortgage | Commercial | Consumer | Auto and Leasing | Unallocated | Total | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Allowance for loan and lease losses for non-covered originated and other loans: | ||||||||||||||||||||||||
Balance at beginning of period | $ | 21,092 | $ | 17,072 | $ | 856 | $ | 533 | $ | 368 | $ | 39,921 | ||||||||||||
Charge-offs | -2,588 | -557 | -246 | -91 | - | -3,482 | ||||||||||||||||||
Recoveries | - | 28 | 65 | 7 | - | 100 | ||||||||||||||||||
Provision for (recapture of) non-covered originated and other loan and lease losses | 4,385 | -229 | 638 | 1,292 | -291 | 5,795 | ||||||||||||||||||
Balance at end of period | $ | 22,889 | $ | 16,314 | $ | 1,313 | $ | 1,741 | $ | 77 | $ | 42,334 | ||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Mortgage | Commercial | Consumer | Auto and Leasing | Unallocated | Total | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Allowance for loan and lease losses for non-covered originated and other loans: | ||||||||||||||||||||||||
Ending allowance balance attributable to loans: | ||||||||||||||||||||||||
Individually evaluated for impairment | $ | 8,708 | $ | 1,431 | $ | - | $ | - | $ | - | $ | 10,139 | ||||||||||||
Collectively evaluated for impairment | 11,229 | 13,466 | 6,006 | 7,866 | 375 | 38,942 | ||||||||||||||||||
Total ending allowance balance | $ | 19,937 | $ | 14,897 | $ | 6,006 | $ | 7,866 | $ | 375 | $ | 49,081 | ||||||||||||
Loans: | ||||||||||||||||||||||||
Individually evaluated for impairment | $ | 84,494 | $ | 28,145 | $ | - | $ | - | $ | - | $ | 112,639 | ||||||||||||
Collectively evaluated for impairment | 681,771 | 1,099,512 | 127,744 | 379,874 | - | 2,288,901 | ||||||||||||||||||
Total ending loans balance | $ | 766,265 | $ | 1,127,657 | $ | 127,744 | $ | 379,874 | $ | - | $ | 2,401,540 | ||||||||||||
Acquired Loans Accounted for under ASC 310-20 (Loans with revolving feature and/or acquired at a premium) | ||||||||||||||||||||||||
The following tables present the activity in our allowance for loan losses and related recorded investment of the associated loans in our non-covered acquired loan portfolio, excluding loans accounted for under ASC 310-30, for the quarter ended March 31, 2014: | ||||||||||||||||||||||||
Quarter Ended March 31, 2014 | ||||||||||||||||||||||||
Commercial | Consumer | Auto | Unallocated | Total | ||||||||||||||||||||
Allowance for loan and lease losses for non-covered acquired loans accounted for under ASC 310-20: | ||||||||||||||||||||||||
Balance at beginning of period | $ | 926 | $1 | $ | - | $ | 1,428 | $ | - | $ | 2,354 | |||||||||||||
Charge-offs | -174 | -2,058 | -1,296 | - | -3,528 | |||||||||||||||||||
Recoveries | - | 100 | 450 | - | 550 | |||||||||||||||||||
Provision for non-covered acquired loan and lease losses accounted for under ASC 310-20 | 115 | 2,462 | 1,665 | - | 4,242 | |||||||||||||||||||
Balance at end of period | $ | 867 | $ | 504 | $ | 2,247 | $ | - | $ | 3,618 | ||||||||||||||
31-Mar-14 | ||||||||||||||||||||||||
Commercial | Consumer | Auto | Unallocated | Total | ||||||||||||||||||||
Allowance for loan and lease losses on non-covered acquired loans accounted for under ASC 310-20: | ||||||||||||||||||||||||
Ending allowance balance attributable to loans: | ||||||||||||||||||||||||
Collectively evaluated for impairment | 867 | 504 | 2,247 | - | 3,618 | |||||||||||||||||||
Total ending allowance balance | $ | 867 | $ | 504 | $ | 2,247 | $ | - | $ | 3,618 | ||||||||||||||
Loans: | ||||||||||||||||||||||||
Collectively evaluated for impairment | 71,577 | 52,049 | 268,865 | - | 392,491 | |||||||||||||||||||
Total ending loan balance | $ | 71,577 | $ | 52,049 | $ | 268,865 | $ | - | $ | 392,491 | ||||||||||||||
Quarter Ended March 31, 2013 | ||||||||||||||||||||||||
Commercial | Consumer | Auto | Unallocated | Total | ||||||||||||||||||||
Allowance for loan and lease losses for non-covered acquired loans accounted for under ASC 310-20: | ||||||||||||||||||||||||
Balance at beginning of period | $ | - | $1 | $ | - | $ | - | $ | - | $ | - | |||||||||||||
Charge-offs | - | -1,456 | -1,715 | - | -3,171 | |||||||||||||||||||
Recoveries | - | 207 | 1,230 | - | 1,437 | |||||||||||||||||||
Provision for non-covered acquired loan and lease losses accounted for under ASC 310-20 | 386 | 1,249 | 485 | - | 2,120 | |||||||||||||||||||
Balance at end of period | $ | 386 | $ | - | $ | - | $ | - | $ | 386 | ||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Commercial | Consumer | Auto | Unallocated | Total | ||||||||||||||||||||
Allowance for loan and lease losses on non-covered acquired loans accounted for under ASC 310-20: | ||||||||||||||||||||||||
Ending allowance balance attributable to loans: | ||||||||||||||||||||||||
Collectively evaluated for impairment | 926 | - | 1,428 | - | 2,354 | |||||||||||||||||||
Total ending allowance balance | $ | 926 | $ | - | $ | 1,428 | $ | - | $ | 2,354 | ||||||||||||||
Loans: | ||||||||||||||||||||||||
Collectively evaluated for impairment | 77,681 | 56,174 | 301,584 | - | 435,439 | |||||||||||||||||||
Total ending loan balance | $ | 77,681 | $ | 56,174 | $ | 301,584 | $ | - | $ | 435,439 | ||||||||||||||
Acquired Loans Accounted for under ASC 310-30 (including those accounted for under ASC 310-30 by analogy) | ||||||||||||||||||||||||
The following tables present the activity in our allowance for loan losses and related recorded investment of the associated loans in our non-covered acquired loan portfolio accounted for under ASC 310-30, for the quarter ended March 31, 2014: | ||||||||||||||||||||||||
Quarter Ended March 31, 2014 | ||||||||||||||||||||||||
Mortgage | Commercial | Construction | Consumer | Auto | Total | |||||||||||||||||||
Allowance for loan and lease losses for non-covered loans accounted for under ASC 310-30: | ||||||||||||||||||||||||
Balance at beginning of period | $ | - | $1 | $ | 1,713 | $1 | $ | - | $1 | $ | 418 | $ | 732 | $ | 2,863 | |||||||||
Provision for non-covered acquired loan and lease losses accounted for under ASC 310-30 | - | 940 | - | -13 | -732 | 195 | ||||||||||||||||||
Balance at end of period | $ | - | $ | 2,653 | $ | - | $ | 405 | $ | - | $ | 3,058 | ||||||||||||
Non-covered loans acquired accounted for under ASC 310-30 were recognized at fair value as of December 18, 2012, which included the impact of expected credit losses and, therefore, no allowance for credit losses was recorded during the quarter ended March 31, 2013. | ||||||||||||||||||||||||
Impaired Loans | ||||||||||||||||||||||||
The Company evaluates all loans, some individually and others as homogeneous groups, for purposes of determining impairment. The total investment in impaired commercial loans was $27.8 million and $28.1 million at March 31, 2014 and December 31, 2013, respectively. The impaired commercial loans were measured based on the fair value of collateral or the present value of cash flows, including those identified as troubled-debt restructurings. The valuation allowance for impaired commercial loans amounted to approximately $1.4 million at March 31, 2014 and December 31, 2013. The total investment in impaired mortgage loans was $87.7 million and $84.5 million at March 31, 2014 and December 31, 2013, respectively. Impairment on mortgage loans assessed as troubled-debt restructurings was measured using the present value of cash flows. The valuation allowance for impaired mortgage loans amounted to approximately $8.0 million and $8.7 million at March 31, 2014 and December 31, 2013, respectively. | ||||||||||||||||||||||||
The Company's recorded investment in commercial and mortgage loans that were individually evaluated for impairment, excluding loans accounted for under ASC 310-30, and the related allowance for loan and lease losses at March 31, 2014 and December 31, 2013 are as follows: | ||||||||||||||||||||||||
Originated and Other Loans and Leases Held for Investment | ||||||||||||||||||||||||
31-Mar-14 | ||||||||||||||||||||||||
Unpaid | Recorded | Related | ||||||||||||||||||||||
Principal | Investment | Allowance | Coverage | |||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Impaired loans with specific allowance: | ||||||||||||||||||||||||
Commercial | $ | 7,856 | $ | 6,686 | $ | 1,704 | 25% | |||||||||||||||||
Residential troubled-debt restructuring | 92,870 | 87,744 | 8,002 | 9% | ||||||||||||||||||||
Impaired loans with no specific allowance: | ||||||||||||||||||||||||
Commercial | 26,744 | 21,081 | N/A | N/A | ||||||||||||||||||||
Total investment in impaired loans | $ | 127,470 | $ | 115,511 | $ | 9,706 | 8% | |||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Unpaid | Recorded | Related | ||||||||||||||||||||||
Principal | Investment | Allowance | Coverage | |||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Impaired loans with specific allowance | ||||||||||||||||||||||||
Commercial | $ | 6,600 | $ | 5,553 | $ | 1,431 | 26% | |||||||||||||||||
Residential troubled-debt restructuring | 89,539 | 84,494 | 8,708 | 10% | ||||||||||||||||||||
Impaired loans with no specific allowance | ||||||||||||||||||||||||
Commercial | 27,914 | 22,592 | N/A | N/A | ||||||||||||||||||||
Total investment in impaired loans | $ | 124,053 | $ | 112,639 | $ | 10,139 | 9% | |||||||||||||||||
Acquired Loans Accounted for under ASC-310-20 (Loans with revolving feature and/or acquired at a premium) | ||||||||||||||||||||||||
31-Mar-14 | ||||||||||||||||||||||||
Unpaid | Recorded | Related | ||||||||||||||||||||||
Principal | Investment | Allowance | Coverage | |||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Impaired loans with no specific allowance | ||||||||||||||||||||||||
Commercial | 208 | 208 | N/A | N/A | ||||||||||||||||||||
Total investment in impaired loans | $ | 208 | $ | 208 | $ | - | 0% | |||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Unpaid | Recorded | Specific | ||||||||||||||||||||||
Principal | Investment | Allowance | Coverage | |||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Impaired loans with no specific allowance | ||||||||||||||||||||||||
Commercial | 208 | 208 | N/A | N/A | ||||||||||||||||||||
Total investment in impaired loans | $ | 208 | $ | 208 | $ | - | 0% | |||||||||||||||||
Acquired Loans Accounted for under ASC 310-30 (including those accounted for under ASC 310-30 by analogy) | ||||||||||||||||||||||||
The Company's recorded investment in non-covered acquired loan pools accounted for under ASC 310-30 and their related allowance for non-covered loan and lease losses at March 31, 2014 and December 31, 2013 are as follows: | ||||||||||||||||||||||||
31-Mar-14 | ||||||||||||||||||||||||
Unpaid | Recorded | |||||||||||||||||||||||
Principal | Investment | Allowance | Coverage | |||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Impaired non-covered loan pools: | ||||||||||||||||||||||||
Mortgage | $ | 5,008 | $ | 4,510 | $ | 57 | 1% | |||||||||||||||||
Commercial | 89,496 | 78,742 | 879 | 1% | ||||||||||||||||||||
Construction | 46,256 | 40,397 | 1,773 | 4% | ||||||||||||||||||||
Consumer | 61,584 | 53,307 | 349 | 1% | ||||||||||||||||||||
Total investment in impaired non-covered loan pools | $ | 202,344 | $ | 176,956 | $ | 3,058 | 2% | |||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Unpaid | Recorded | |||||||||||||||||||||||
Principal | Investment | Allowance | Coverage | |||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Impaired non-covered loan pools: | ||||||||||||||||||||||||
Mortgage | $ | 5,183 | $ | 4,718 | $ | 57 | 1% | |||||||||||||||||
Commercial | 48,100 | 40,411 | 394 | 1% | ||||||||||||||||||||
Construction | 21,526 | 17,818 | 1,319 | 7% | ||||||||||||||||||||
Consumer | 73,043 | 63,606 | 361 | 1% | ||||||||||||||||||||
Auto | 379,236 | 377,316 | 732 | 0% | ||||||||||||||||||||
Total investment in impaired non-covered loan pools | $ | 527,088 | $ | 503,869 | $ | 2,863 | 1% | |||||||||||||||||
The following table presents the interest recognized in commercial and mortgage loans that were individually evaluated for impairment, excluding loans accounted for under ASC 310-30, for the quarters ended March 31, 2014 and 2013: | ||||||||||||||||||||||||
Quarter Ended March 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | |||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Impaired loans with specific allowance | ||||||||||||||||||||||||
Commercial | $ | 24 | $ | 6,259 | $ | 4 | $ | 15,472 | ||||||||||||||||
Residential troubled-debt restructuring | 645 | 87,052 | 443 | 78,748 | ||||||||||||||||||||
Impaired loans with no specific allowance | ||||||||||||||||||||||||
Commercial | 78 | 21,629 | 293 | 30,360 | ||||||||||||||||||||
Total interest income from impaired loans | $ | 747 | $ | 114,940 | $ | 740 | $ | 124,580 | ||||||||||||||||
Modifications | ||||||||||||||||||||||||
The following table presents the troubled-debt restructurings during the quarters ended March 31, 2014 and 2013: | ||||||||||||||||||||||||
Quarter Ended March 31, 2014 | ||||||||||||||||||||||||
Number of contracts | Pre-Modification Outstanding Recorded Investment | Pre-Modification Weighted Average Rate | Pre-Modification Weighted Average Term (in Months) | Post-Modification Outstanding Recorded Investment | Post-Modification Weighted Average Rate | Post-Modification Weighted Average Term (in Months) | ||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
Mortgage | 34 | $ | 4,009 | 6.43% | 347 | $ | 3,910 | 4.35% | 375 | |||||||||||||||
Consumer | 5 | 42 | 12.97% | 67 | 44 | 12.95% | 66 | |||||||||||||||||
Quarter Ended March 31, 2013 | ||||||||||||||||||||||||
Number of contracts | Pre- Modification Outstanding Recorded Investment | Pre-Modification Weighted Average Rate | Pre-Modification Weighted Average Term (in Months) | Post-Modification Outstanding Recorded Investment | Post-Modification Weighted Average Rate | Post-Modification Weighted Average Term (in Months) | ||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
Mortgage | 57 | $ | 7,518 | 6.28% | 331 | $ | 8,040 | 4.35% | 409 | |||||||||||||||
The following table presents troubled-debt restructurings for which there was a payment default during the twelve-month period ended March 31, 2014 and 2013: | ||||||||||||||||||||||||
Twelve-Month Period Ended March 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Number of Contracts | Recorded Investment | Number of Contracts | Recorded Investment | |||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
Mortgage | 19 | $ | 2,592 | 32 | $ | 4,295 | ||||||||||||||||||
Commercial | - | $ | - | 1 | $ | 18 | ||||||||||||||||||
Consumer | 1 | $ | 11 | - | $ | - | ||||||||||||||||||
Credit Quality Indicators | ||||||||||||||||||||||||
The Company categorizes non-covered originated and acquired loans accounted for under ASC 310-20 into risk categories based on relevant information about the ability of borrowers to service their debt, such as economic conditions, portfolio risk characteristics, prior loss experience, and the results of periodic credit reviews of individual loans. | ||||||||||||||||||||||||
The Company uses the following definitions for risk ratings: | ||||||||||||||||||||||||
Special Mention: Loans classified as “special mention” have a potential weakness that deserves management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution's credit position at some future date. | ||||||||||||||||||||||||
Substandard: Loans classified as “substandard” are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. | ||||||||||||||||||||||||
Doubtful: Loans classified as “doubtful” have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, questionable and improbable. | ||||||||||||||||||||||||
Loss: Loans classified as “loss” are considered uncollectible and of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the asset has absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off this worthless loan even though partial recovery may be effected in the future. | ||||||||||||||||||||||||
Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. | ||||||||||||||||||||||||
As of March 31, 2014 and December 31, 2013, and based on the most recent analysis performed, the risk category of gross non-covered originated and other loans and acquired loans accounted for under ASC 310-20 subject to risk rating by class of loans is as follows: | ||||||||||||||||||||||||
31-Mar-14 | ||||||||||||||||||||||||
Risk Ratings | ||||||||||||||||||||||||
Individually | ||||||||||||||||||||||||
Balance | Special | Measured for | ||||||||||||||||||||||
Outstanding | Pass | Mention | Substandard | Doubtful | Impairment | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Commercial - originated and other loans held for investment | ||||||||||||||||||||||||
Commercial secured by real estate: | ||||||||||||||||||||||||
Corporate | $ | 62,935 | $ | 62,935 | $ | - | $ | - | $ | - | $ | - | ||||||||||||
Institutional | 9,833 | 9,833 | - | - | - | - | ||||||||||||||||||
Middle market | 169,753 | 141,537 | 16,619 | - | - | 11,597 | ||||||||||||||||||
Retail | 156,694 | 139,971 | 1,929 | 1,892 | - | 12,902 | ||||||||||||||||||
Floor plan | 1,699 | 1,699 | - | - | - | - | ||||||||||||||||||
Real estate | 11,837 | 11,837 | - | - | - | - | ||||||||||||||||||
412,751 | 367,812 | 18,548 | 1,892 | - | 24,499 | |||||||||||||||||||
Other commercial and industrial: | ||||||||||||||||||||||||
Corporate | 28,475 | 28,475 | - | - | - | - | ||||||||||||||||||
Institutional | 553,249 | 553,249 | - | - | - | - | ||||||||||||||||||
Middle market | 82,933 | 77,566 | 3,336 | 771 | - | 1,260 | ||||||||||||||||||
Retail | 67,055 | 63,366 | 119 | 1,562 | - | 2,008 | ||||||||||||||||||
Floor plan | 25,682 | 25,372 | 202 | 108 | - | - | ||||||||||||||||||
757,394 | 748,028 | 3,657 | 2,441 | - | 3,268 | |||||||||||||||||||
Total | 1,170,145 | 1,115,840 | 22,205 | 4,333 | - | 27,767 | ||||||||||||||||||
Commercial - acquired loans (under ASC 310-20) | ||||||||||||||||||||||||
Commercial secured by real estate: | ||||||||||||||||||||||||
Corporate | 11,079 | 11,079 | - | - | - | - | ||||||||||||||||||
Retail | 4,301 | 3,490 | 245 | 566 | - | - | ||||||||||||||||||
Floor plan | 2,752 | 2,651 | - | 101 | - | - | ||||||||||||||||||
18,132 | 17,220 | 245 | 667 | - | - | |||||||||||||||||||
Other commercial and industrial: | ||||||||||||||||||||||||
Corporate | 2,947 | 2,851 | - | 96 | - | - | ||||||||||||||||||
Institutional | 221 | 221 | - | - | - | - | ||||||||||||||||||
Retail | 17,216 | 16,460 | 100 | 656 | - | - | ||||||||||||||||||
Floor plan | 33,061 | 32,998 | 63 | - | - | - | ||||||||||||||||||
53,445 | 52,530 | 163 | 752 | - | - | |||||||||||||||||||
Total | 71,577 | 69,750 | 408 | 1,419 | - | - | ||||||||||||||||||
Total | $ | 1,241,722 | $ | 1,185,590 | $ | 22,613 | $ | 5,752 | $ | - | $ | 27,767 | ||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Risk Ratings | ||||||||||||||||||||||||
Individually | ||||||||||||||||||||||||
Balance | Special | Measured for | ||||||||||||||||||||||
Outstanding | Pass | Mention | Substandard | Doubtful | Impairment | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Commercial - originated and other loans held for investment | ||||||||||||||||||||||||
Commercial secured by real estate: | ||||||||||||||||||||||||
Corporate | $ | 54,796 | $ | 54,796 | $ | - | $ | - | $ | - | $ | - | ||||||||||||
Institutional | 4,050 | 4,050 | - | - | - | - | ||||||||||||||||||
Middle market | 161,583 | 133,061 | 16,627 | 118 | - | 11,777 | ||||||||||||||||||
Retail | 166,642 | 149,018 | 2,182 | 2,258 | - | 13,184 | ||||||||||||||||||
Floor plan | 1,835 | 1,835 | - | - | - | - | ||||||||||||||||||
Real estate | 11,655 | 11,655 | - | - | - | - | ||||||||||||||||||
400,561 | 354,415 | 18,809 | 2,376 | - | 24,961 | |||||||||||||||||||
Other commercial and industrial: | ||||||||||||||||||||||||
Corporate | 32,598 | 32,598 | - | - | - | - | ||||||||||||||||||
Institutional | 536,445 | 536,445 | - | - | - | - | ||||||||||||||||||
Middle market | 58,897 | 53,868 | 3,466 | 198 | - | 1,365 | ||||||||||||||||||
Retail | 61,510 | 58,742 | 257 | 691 | - | 1,820 | ||||||||||||||||||
Floor plan | 37,646 | 37,350 | 188 | 108 | - | - | ||||||||||||||||||
727,096 | 719,003 | 3,911 | 997 | - | 3,185 | |||||||||||||||||||
Total | 1,127,657 | 1,073,418 | 22,720 | 3,373 | - | 28,146 | ||||||||||||||||||
Commercial - acquired loans (under ASC 310-20) | ||||||||||||||||||||||||
Commercial secured by real estate: | ||||||||||||||||||||||||
Corporate | 10,166 | 10,166 | - | - | - | - | ||||||||||||||||||
Retail | 5,770 | 4,378 | 443 | 949 | - | - | ||||||||||||||||||
Floor plan | 2,677 | 2,576 | - | 101 | - | - | ||||||||||||||||||
18,613 | 17,120 | 443 | 1,050 | - | - | |||||||||||||||||||
Other commercial and industrial: | ||||||||||||||||||||||||
Corporate | 9,793 | 9,696 | - | 97 | - | - | ||||||||||||||||||
Retail | 27,338 | 26,044 | 150 | 1,144 | - | - | ||||||||||||||||||
Floor plan | 21,937 | 21,769 | 168 | - | - | - | ||||||||||||||||||
59,068 | 57,509 | 318 | 1,241 | - | - | |||||||||||||||||||
Total | 77,681 | 74,629 | 761 | 2,291 | - | - | ||||||||||||||||||
Total | $ | 1,205,338 | $ | 1,148,047 | $ | 23,481 | $ | 5,664 | $ | - | $ | 28,146 | ||||||||||||
At March 31, 2014 and December 31, 2013, we had approximately $766.7 million and $763.4 million, respectively, of credit facilities granted to the Puerto Rico government, including its instrumentalities, public corporations and municipalities, of which $718.8 million and $696.0, respectively, were outstanding as of such dates. A substantial portion of our credit exposure to the government of Puerto Rico consists of collateralized loans or obligations that have a specific source of income or revenues identified for its repayment. Some of these obligations consist of senior and subordinated loans to public corporations that obtain revenues from rates charged for services, such as water and electric power utilities. Public corporations have varying degrees of independence from the central government and many receive appropriations or other payments from it. We also have loans to various municipalities for which the good faith, credit and unlimited taxing power of the applicable municipality has been pledged to their repayment. These municipalities are required by law to levy special property taxes in such amounts as shall be required for the payment of all their general obligation bonds and notes. Another portion of these loans consists of special obligations of various municipalities that are payable from the basic real and personal property taxes collected within such municipalities. The good faith and credit obligations of the municipalities have a first lien on the basic property taxes. | ||||||||||||||||||||||||
For residential and consumer loan classes, the Company evaluates credit quality based on the delinquency status of the loan. As of March 31, 2014 and December 31, 2013, and based on the most recent analysis performed, the risk category of non-covered gross originated and other loans and acquired loans accounted for under ASC 310-20 not subject to risk rating by class of loans is as follows: | ||||||||||||||||||||||||
31-Mar-14 | ||||||||||||||||||||||||
Delinquency | ||||||||||||||||||||||||
Individually | ||||||||||||||||||||||||
Balance | Measured for | |||||||||||||||||||||||
Outstanding | 0-29 days | 30-59 days | 60-89 days | 90-119 days | 120-364 days | 365+ days | Impairment | |||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Originated and other loans and leases held for investment | ||||||||||||||||||||||||
Mortgage | ||||||||||||||||||||||||
Traditional (by origination year) | ||||||||||||||||||||||||
Up to the year 2002 | $ | 72,096 | $ | 61,268 | $ | 5,230 | $ | 2,621 | $ | 382 | $ | 1,037 | $ | 1,459 | $ | 99 | ||||||||
Years 2003 and 2004 | 63,515 | 53,170 | 5,494 | 2,445 | 484 | 1,246 | 612 | 64 | ||||||||||||||||
Year 2005 | 87,818 | 72,414 | 6,448 | 2,288 | 1,233 | 3,576 | 1,324 | 535 | ||||||||||||||||
Year 2006 | 116,904 | 97,822 | 10,151 | 4,376 | 1,169 | 2,410 | 850 | 126 | ||||||||||||||||
Years 2007, 2008 and 2009 | 97,840 | 87,065 | 3,807 | 2,025 | 223 | 3,619 | 875 | 226 | ||||||||||||||||
Years 2010, 2011, 2012 2013 and 2014 | 182,167 | 164,134 | 2,126 | 721 | 1,070 | 1,004 | 1,064 | 12,048 | ||||||||||||||||
620,340 | 535,873 | 33,256 | 14,476 | 4,561 | 12,892 | 6,184 | 13,098 | |||||||||||||||||
Non-traditional | 39,790 | 35,078 | 1,744 | 470 | - | 1,439 | 986 | 73 | ||||||||||||||||
Loss mitigation program | 86,005 | 8,366 | 1,001 | 171 | 219 | 779 | 896 | 74,573 | ||||||||||||||||
746,135 | 579,317 | 36,001 | 15,117 | 4,780 | 15,110 | 8,066 | 87,744 | |||||||||||||||||
Home equity secured personal loans | 733 | 595 | - | - | - | - | 126 | 12 | - | |||||||||||||||
GNMA's buy-back option program | 35,282 | - | - | - | - | 5,529 | 16,742 | 13,011 | - | |||||||||||||||
782,150 | 579,912 | 36,001 | 15,117 | 10,309 | 31,978 | 21,089 | 87,744 | |||||||||||||||||
Consumer | ||||||||||||||||||||||||
Credit cards | 15,490 | 14,701 | 263 | 171 | 136 | 219 | - | - | ||||||||||||||||
Overdrafts | 331 | 289 | 28 | 11 | 1 | 2 | - | - | ||||||||||||||||
Unsecured personal lines of credit | 1,934 | 1,718 | 60 | 99 | 15 | 35 | 7 | - | ||||||||||||||||
Unsecured personal loans | 108,037 | 105,369 | 1,397 | 512 | 195 | 42 | 12 | 510 | ||||||||||||||||
Cash collateral personal loans | 16,700 | 16,263 | 375 | 46 | 13 | 3 | - | - | ||||||||||||||||
142,492 | 138,340 | 2,123 | 839 | 360 | 301 | 19 | 510 | |||||||||||||||||
Auto and Leasing | 447,940 | 399,721 | 33,788 | 8,559 | 3,461 | 2,411 | - | - | ||||||||||||||||
1,372,582 | 1,117,973 | 71,912 | 24,515 | 14,130 | 34,690 | 21,108 | 88,254 | |||||||||||||||||
Acquired loans (accounted for under ASC 310-20) | ||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||
Credit cards | 48,381 | 44,111 | 1,413 | 781 | 743 | 1,333 | - | - | ||||||||||||||||
Personal loans | 3,668 | 3,423 | 105 | 83 | 4 | 53 | - | - | ||||||||||||||||
52,049 | 47,534 | 1,518 | 864 | 747 | 1,386 | - | - | |||||||||||||||||
Auto | 268,865 | 250,840 | 13,161 | 3,522 | 804 | 538 | - | - | ||||||||||||||||
320,914 | 298,374 | 14,679 | 4,386 | 1,551 | 1,924 | - | - | |||||||||||||||||
Total | $ | 1,693,496 | $ | 1,416,347 | $ | 86,591 | $ | 28,901 | $ | 15,681 | $ | 36,614 | $ | 21,108 | $ | 88,254 | ||||||||
31-Dec-13 | ||||||||||||||||||||||||
Delinquency | ||||||||||||||||||||||||
Individually | ||||||||||||||||||||||||
Balance | Measured for | |||||||||||||||||||||||
Outstanding | 0-29 days | 30-59 days | 60-89 days | 90-119 days | 120-364 days | 365+ days | Impairment | |||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Originated and other loans and leases held for investment | ||||||||||||||||||||||||
Mortgage | ||||||||||||||||||||||||
Traditional (by origination year) | ||||||||||||||||||||||||
Up to the year 2002 | $ | 76,512 | $ | 64,743 | $ | 6,594 | $ | 1,634 | $ | 868 | $ | 1,082 | $ | 1,458 | $ | 133 | ||||||||
Years 2003 and 2004 | 65,117 | 56,283 | 4,722 | 1,938 | 56 | 1,437 | 352 | 329 | ||||||||||||||||
Year 2005 | 89,541 | 74,016 | 8,414 | 2,119 | 1,198 | 3,037 | 573 | 184 | ||||||||||||||||
Year 2006 | 120,322 | 99,243 | 12,055 | 4,312 | 1,148 | 2,755 | 515 | 294 | ||||||||||||||||
Years 2007, 2008 and 2009 | 101,150 | 91,920 | 3,464 | 1,104 | 1,264 | 2,844 | 554 | - | ||||||||||||||||
Years 2010, 2011, 2012 and 2013 | 149,546 | 134,577 | 3,192 | 1,609 | 115 | 974 | 989 | 8,090 | ||||||||||||||||
602,188 | 520,782 | 38,441 | 12,716 | 4,649 | 12,129 | 4,441 | 9,030 | |||||||||||||||||
Non-traditional | 42,102 | 35,168 | 3,217 | 1,162 | - | 1,324 | 833 | 398 | ||||||||||||||||
Loss mitigation program | 86,318 | 7,762 | 1,376 | 149 | 624 | 312 | 1,029 | 75,066 | ||||||||||||||||
730,608 | 563,712 | 43,034 | 14,027 | 5,273 | 13,765 | 6,303 | 84,494 | |||||||||||||||||
Home equity secured personal loans | 736 | 598 | - | - | - | - | 126 | 12 | - | |||||||||||||||
GNMA's buy-back option program | 34,921 | - | - | - | - | 7,670 | 14,425 | 12,826 | - | |||||||||||||||
766,265 | 564,310 | 43,034 | 14,027 | 12,943 | 28,316 | 19,141 | 84,494 | |||||||||||||||||
Consumer | ||||||||||||||||||||||||
Credit cards | 15,241 | 14,555 | 287 | 168 | 118 | 113 | - | - | ||||||||||||||||
Overdrafts | 372 | 322 | 46 | 4 | - | - | - | - | ||||||||||||||||
Unsecured personal lines of credit | 1,981 | 1,844 | 33 | 38 | 25 | 34 | 7 | - | ||||||||||||||||
Unsecured personal loans | 94,560 | 92,102 | 1,272 | 399 | 300 | 39 | 13 | 435 | ||||||||||||||||
Cash collateral personal loans | 15,590 | 15,223 | 324 | 43 | - | - | - | - | ||||||||||||||||
127,744 | 124,046 | 1,962 | 652 | 443 | 186 | 20 | 435 | |||||||||||||||||
Auto and Leasing | 379,874 | 339,817 | 25,532 | 9,437 | 3,397 | 1,691 | - | - | ||||||||||||||||
1,273,883 | 1,028,173 | 70,528 | 24,116 | 16,783 | 30,193 | 19,161 | 84,929 | |||||||||||||||||
Acquired loans (accounted for under ASC 310-20) | ||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||
Credit cards | 52,199 | 46,713 | 2,217 | 1,200 | 828 | 1,241 | - | - | ||||||||||||||||
Personal loans | 3,975 | 3,681 | 196 | 7 | 60 | 31 | - | - | ||||||||||||||||
56,174 | 50,394 | 2,413 | 1,207 | 888 | 1,272 | - | - | |||||||||||||||||
Auto | 301,584 | 283,825 | 12,534 | 3,616 | 1,095 | 514 | - | - | ||||||||||||||||
357,758 | 334,219 | 14,947 | 4,823 | 1,983 | 1,786 | - | - | |||||||||||||||||
Total | $ | 1,631,641 | $ | 1,362,392 | $ | 85,475 | $ | 28,939 | $ | 18,766 | $ | 31,979 | $ | 19,161 | $ | 84,929 | ||||||||
Covered Loans | ||||||||||||||||||||||||
For covered loans, as part of the evaluation of actual versus expected cash flows, the Company assesses on a quarterly basis the credit quality of these loans based on delinquency, severity factors and risk ratings, among other assumptions. Migration and credit quality trends are assessed at the pool level, by comparing information from the latest evaluation period through the end of the reporting period. | ||||||||||||||||||||||||
The changes in the allowance for loan and lease losses on covered loans for the quarters ended March 31, 2014 and 2013 were as follows: | ||||||||||||||||||||||||
Quarter Ended March 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Balance at beginning of the period | $ | 52,729 | $ | 54,124 | ||||||||||||||||||||
Provision for covered loan and lease losses, net | 1,629 | 672 | ||||||||||||||||||||||
FDIC shared-loss portion of provision for (recapture of) | ||||||||||||||||||||||||
covered loan and lease losses, net | 40 | -1,822 | ||||||||||||||||||||||
Balance at end of the period | $ | 54,398 | $ | 52,974 | ||||||||||||||||||||
FDIC shared-loss portion of provision for (recapture of) covered loans and lease losses net, represents the credit impairment losses to be covered under the FDIC loss-share agreement which is increasing (decreasing) the FDIC loss-share indemnification asset. | ||||||||||||||||||||||||
Net provision for covered loans includes both additional reserves and reserve releases for different pools. The pools for which there were releases are also subject to a reduction to the FDIC shared-loss indemnification asset because of lower expected losses which are recognized as recaptures. | ||||||||||||||||||||||||
The Company's recorded investment in covered loan pools that have recorded impairments and their related allowance for covered loan and lease losses as of March 31, 2014 and December 31, 2013 are as follows: | ||||||||||||||||||||||||
31-Mar-14 | ||||||||||||||||||||||||
Unpaid | Recorded | |||||||||||||||||||||||
Principal | Investment | Allowance | Coverage | |||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Impaired covered loan pools: | ||||||||||||||||||||||||
Loans secured by 1-4 family residential properties | $ | 147,597 | $ | 111,410 | $ | 14,221 | 13% | |||||||||||||||||
Construction and development secured by 1-4 family residential properties | 65,747 | 18,254 | 6,866 | 38% | ||||||||||||||||||||
Commercial and other construction | 192,095 | 111,679 | 32,696 | 29% | ||||||||||||||||||||
Consumer | 9,671 | 5,503 | 615 | 11% | ||||||||||||||||||||
Total investment in impaired covered loan pools | $ | 415,110 | $ | 246,846 | $ | 54,398 | 22% | |||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Unpaid | Recorded | Specific | ||||||||||||||||||||||
Principal | Investment | Allowance | Coverage | |||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Impaired covered loan pools with specific allowance | ||||||||||||||||||||||||
Loans secured by 1-4 family residential properties | $ | 52,142 | $ | 38,179 | $ | 12,495 | 33% | |||||||||||||||||
Construction and development secured by 1-4 family residential properties | 66,037 | 17,304 | 6,866 | 40% | ||||||||||||||||||||
Commercial and other construction | 209,566 | 111,946 | 32,753 | 29% | ||||||||||||||||||||
Consumer | 10,512 | 5,857 | 615 | 11% | ||||||||||||||||||||
Total investment in impaired covered loan pools | $ | 338,257 | $ | 173,286 | $ | 52,729 | 30% |
FDIC_Loss_Share_Asset_and_True
FDIC Loss Share Asset and True-up Payment Obligation | 3 Months Ended | |||||
Mar. 31, 2014 | ||||||
Banking and Thrift [Abstract] | ' | |||||
FDIC Share Loss Indemnification Asset and True-up Payment Obligation [Text Block] | ' | |||||
NOTE 6- FDIC LOSS SHARE ASSET AND TRUE-UP PAYMENT OBLIGATION | ||||||
As part of the Purchase and Assumption Agreement between the Bank and the FDIC (the “Purchase and Assumption Agreement”), the Bank and the FDIC entered into shared-loss agreements whereby the FDIC in connection with the Eurobank acquisition, covers a substantial portion of any losses on loans (and related unfunded loan commitments), foreclosed real estate and other repossessed properties. | ||||||
The acquired loans, foreclosed real estate, and other repossessed properties subject to the shared-loss agreements are collectively referred to as “covered assets.” Under the terms of the shared-loss agreements, the FDIC absorbs 80% of losses and shares in 80% of loss recoveries on covered assets. The term of the shared-loss agreement covering single family residential mortgage loans is ten years with respect to losses and loss recoveries, while the term of the shared-loss agreement covering commercial loans is five years with respect to losses and eight years with respect to loss recoveries, from the April 30, 2010 acquisition date. The shared-loss agreements also provide for certain costs directly related to the collection and preservation of covered assets to be reimbursed at an 80% level. The indemnification asset represents the portion of estimated losses covered by the shared-loss agreements between the Bank and the FDIC. | ||||||
The following table presents the activity in the FDIC loss share asset and true-up payment obligation for the quarters ended March 31, 2014 and 2013: | ||||||
Quarter Ended March 31, | ||||||
2014 | 2013 | |||||
(In thousands) | ||||||
FDIC share-loss indemnification asset: | ||||||
Balance at beginning of period | $ | 189,240 | $ | 302,295 | ||
Shared-loss agreements reimbursements from the FDIC | -8,236 | -6,650 | ||||
Increase (decrease) in expected credit losses to be covered under shared-loss agreements, net | 40 | -1,822 | ||||
FDIC shared-loss expense | -17,622 | -12,201 | ||||
Incurred expenses to be reimbursed under shared-loss agreements | 2,772 | 1,502 | ||||
Balance at end of period | $ | 166,194 | $ | 283,124 | ||
True-up payment obligation: | ||||||
Balance at beginning of period | $ | 18,510 | $ | 15,496 | ||
FDIC shared-loss expense | 865 | 670 | ||||
Balance at end of period | $ | 19,375 | $ | 16,166 | ||
The FDIC shared-loss expense increased as the Company continues to forecast better performance and cash flows from covered loans than previously expected resulting in a minor increase in the amortization of the FDIC shared-loss indemnification asset. | ||||||
The FDIC shared-loss expense of $18.5 million for the quarter ended March 31, 2014 compared to $12.9 million for the same period in 2013, resulted from the ongoing evaluation of expected cash flows of the covered loan portfolio, which resulted in reduced projected losses expected to be collected from the FDIC and the improved accretable yield on the covered loans. Forecasted losses show a decreasing trend during the quarter ended March 31, 2014 as compared to the projections in 2013.The reduction in claimable losses amortizes the shared-loss indemnification asset through the shorter of the life of the shared loss agreement or the loan holding period. This amortization is net of the accretion of the discount recorded to reflect the expected claimable loss at its net present value. During the quarter ended March 31, 2014, the net amortization included $3.5 million of additional amortization of the FDIC indemnification asset from stepped up cost recoveries on certain construction, commercial, and leasing loan pools. Additional amortization of the FDIC indemnification asset may be recorded, should the Company continue to experience reduced expected losses. The majority of the FDIC indemnification asset is recorded for projected claimable losses on non-single family residential loans whose loss share period ends in the second quarter of 2015, although the recovery share period extends for an additional three-year period. | ||||||
The Bank agreed to make a true-up payment, also known as clawback liability or clawback provision, to the FDIC on the date that is 45 days following the last day (such day, the “True-Up Measurement Date”) of the final shared-loss month, or upon the final disposition of all covered assets under the shared-loss agreements in the event losses thereunder fail to reach expected levels. Under the shared-loss agreements, the Bank will pay to the FDIC 50% of the excess, if any, of: (i) 20% of the Intrinsic Loss Estimate of $906.0 million (or $181.2 million) (as determined by the FDIC) less (ii) the sum of: (A) 25% of the asset discount (per bid) (or $227.5 million); plus (B) 25% of the cumulative shared-loss payments (defined as the aggregate of all of the payments made or payable to the Bank minus the aggregate of all of the payments made or payable to the FDIC); plus (C) the sum of the period servicing amounts for every consecutive twelve-month period prior to and ending on the True-Up Measurement Date in respect of each of the shared-loss agreements during which the shared-loss provisions of the applicable shared-loss agreement is in effect (defined as the product of the simple average of the principal amount of shared-loss loans and shared-loss assets at the beginning and end of such period times 1%). The true-up payment represents an estimated liability of $19.4 million and $18.5 million, net of discount, as of March 31, 2014 and December 31, 2013, respectively. The estimated liability is included within other liabilities in the unaudited consolidated statements of financial condition. |
Derivative_Activities
Derivative Activities | 3 Months Ended | |||||||||||||
Mar. 31, 2014 | ||||||||||||||
Derivative Activities [Abstract] | ' | |||||||||||||
DERIVATIVE ACTIVITIES | ' | |||||||||||||
NOTE 7 — DERIVATIVE ACTIVITIES | ||||||||||||||
During the quarter ended March 31, 2014, losses of $478 thousand were recognized and reflected as “Derivative Activities” in the unaudited consolidated statements of operations, which were mainly related to the options tied to the Standard & Poor's 500 stock market index. During the quarter ended March 31, 2013, losses of $788 thousand were recognized and were mainly related to the options tied to the Standard & Poor's 500 stock market index | ||||||||||||||
The following table details “Derivative Assets” and “Derivative Liabilities” as reflected in the unaudited consolidated statements of financial condition at March 31, 2014 and December 31, 2013: | ||||||||||||||
March 31, | December 31, | |||||||||||||
2014 | 2013 | |||||||||||||
(In thousands) | ||||||||||||||
Derivative assets: | ||||||||||||||
Options tied to S&P 500 Index | $ | 12,555 | $ | 16,430 | ||||||||||
Interest rate swaps designated as cash flow hedges | 166 | 850 | ||||||||||||
Interest rate swaps not designated as hedges | 2,755 | 2,861 | ||||||||||||
Interest rate caps | 374 | 319 | ||||||||||||
Other | 11 | 42 | ||||||||||||
$ | 15,861 | $ | 20,502 | |||||||||||
Derivative liabilities: | ||||||||||||||
Interest rate swaps designated as cash flow hedges | 10,695 | 11,757 | ||||||||||||
Interest rate swaps not designated as hedges | 2,755 | 2,861 | ||||||||||||
Interest rate caps | 374 | 319 | ||||||||||||
Other | 6 | - | ||||||||||||
$ | 13,830 | $ | 14,937 | |||||||||||
Interest Rate Swaps | ||||||||||||||
The Company enters into interest rate swap contracts to hedge the variability of future interest cash flows of forecasted wholesale borrowings, attributable to changes in a predetermined variable index rate. The interest rate swaps effectively fix the Company's interest payments on an amount of forecasted interest expense attributable to the variable index rate corresponding to the swap notional stated rate. These swaps are designated as cash flow hedges for the forecasted wholesale borrowing transactions and are properly documented as such, and therefore, qualify for cash flow hedge accounting. Any gain or loss associated with the effective portion of our cash flow hedges was recognized in other comprehensive income and is subsequently reclassified into earnings in the period during which the hedged forecasted transactions affect earnings. Changes in the fair value of these derivatives are recorded in accumulated other comprehensive income to the extent there is no significant ineffectiveness in the cash flow hedging relationships. Currently, the Company does not expect to reclassify any amount included in other comprehensive income related to these interest rate swaps to earnings in the next twelve months. | ||||||||||||||
The following table shows a summary of these swaps and their terms at March 31, 2014: | ||||||||||||||
Notional | Fixed | Variable | Trade | Settlement | Maturity | |||||||||
Type | Amount | Rate | Rate Index | Date | Date | Date | ||||||||
(In thousands) | ||||||||||||||
Interest Rate Swaps | $ | 25,000 | 2.44% | 1-Month LIBOR | 5/5/11 | 5/4/12 | 5/4/16 | |||||||
25,000 | 2.62% | 1-Month LIBOR | 5/5/11 | 7/24/12 | 7/24/16 | |||||||||
25,000 | 2.64% | 1-Month LIBOR | 5/5/11 | 7/30/12 | 7/30/16 | |||||||||
50,000 | 2.66% | 1-Month LIBOR | 5/5/11 | 8/10/12 | 8/10/16 | |||||||||
100,000 | 2.68% | 1-Month LIBOR | 5/5/11 | 8/16/12 | 8/16/16 | |||||||||
40,277 | 2.42% | 1-Month LIBOR | 7/3/13 | 7/3/13 | 8/1/23 | |||||||||
$ | 265,277 | |||||||||||||
An unrealized loss of $10.5 million was recognized in accumulated other comprehensive income related to the valuation of these swaps at March 31, 2014, and the related asset and liability are being reflected in the accompanying unaudited consolidated statements of financial condition. | ||||||||||||||
At March 31, 2014 and December 31, 2013, interest rate swaps not designated as hedging instruments that were offered to clients represented an asset of $2.8 million and $2.9 million, respectively, and were included as part of derivative assets in the unaudited consolidated statements of financial position. The credit risk to these clients stemming from these derivatives, if any, is not material. At March 31, 2014 and December 31, 2013, interest rate swaps not designated as hedging instruments that are the mirror-images of the derivatives offered to clients represented a liability of $2.8 million and $2.9 million, respectively, and were included as part of derivative liabilities in the unaudited consolidated statements of financial condition. | ||||||||||||||
The following table shows a summary of these interest rate swaps not designated as hedging instruments and their terms at March 31, 2014: | ||||||||||||||
Notional | Fixed | Variable | Settlement | Maturity | ||||||||||
Type | Amount | Rate | Rate Index | Date | Date | |||||||||
(In thousands) | ||||||||||||||
Interest Rate Swaps - Derivatives Offered to Clients | $ | 4,094 | 5.13% | 1-Month LIBOR | 7/3/06 | 7/3/16 | ||||||||
12,500 | 5.51% | 1-Month LIBOR | 4/11/09 | 4/11/19 | ||||||||||
$ | 16,594 | |||||||||||||
Interest Rate Swaps - Mirror Image Derivatives | $ | 4,094 | 5.13% | 1-Month LIBOR | 7/3/06 | 7/3/16 | ||||||||
12,500 | 5.51% | 1-Month LIBOR | 4/11/09 | 4/11/19 | ||||||||||
$ | 16,594 | |||||||||||||
Options Tied to Standard & Poor's 500 Stock Market Index | ||||||||||||||
The Company has offered its customers certificates of deposit with an option tied to the performance of the S&P 500 Index. The Company uses option agreements with major broker-dealers to manage its exposure to changes in this index. Under the terms of the option agreements, the Company receives the average increase in the month-end value of the index in exchange for a fixed premium. The changes in fair value of the option agreements used to manage the exposure in the stock market in the certificates of deposit are recorded in earnings. At March 31, 2014 and December 31, 2013, the purchased options used to manage exposure to the S&P 500 Index on stock indexed deposits represented an asset of $12.6 million (notional amount of $23.8 million) and $16.4 million (notional amount of $28.0 million), respectively, and the options sold to customers embedded in the certificates of deposit and recorded as deposits in the unaudited consolidated statements of financial condition, represented a liability of $12.1 million (notional amount of $22.9 million) and $15.7 million (notional amount of $26.9 million), respectively. | ||||||||||||||
Interest rate caps | ||||||||||||||
The Company has entered into interest rate cap transactions with various clients with floating-rate debt who wish to protect their financial results against increases in interest rates. In these cases, the Company simultaneously enters into mirror-image interest rate cap transactions with financial counterparties. None of these cap transactions qualify for hedge accounting; therefore, they are marked to market through earnings. The outstanding total notional amount of interest rate caps was $110.0 million at both March 31, 2014 and December 31, 2013. At March 31, 2014 and December 31, 2013, the interest rate caps sold to clients represented a liability of $374 thousand and $319 thousand, respectively, and were included as part of derivative liabilities in the unaudited consolidated statements of financial condition. At March 31, 2014 and December 31, 2013, the interest rate caps purchased as mirror-images represented an asset of $374 thousand and $319 thousand, respectively, and were included as part of derivative assets in the unaudited consolidated statements of financial condition. | ||||||||||||||
Accrued_Interest_Receivable_an
Accrued Interest Receivable and Other Assets | 3 Months Ended | |||||
Mar. 31, 2014 | ||||||
Accrued Interest Receivable And Other Assets [Abstract] | ' | |||||
Other Assets Disclosure [Text Block] | ' | |||||
NOTE 8 — ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS | ||||||
Accrued interest receivable at March 31, 2014 and December 31, 2013 consists of the following: | ||||||
March 31, | December 31, | |||||
2014 | 2013 | |||||
(In thousands) | ||||||
Non-covered loans | $ | 14,440 | $ | 13,378 | ||
Investments | 4,529 | 5,356 | ||||
$ | 18,969 | $ | 18,734 | |||
Other assets at March 31, 2014 and December 31, 2013 consist of the following: | ||||||
March 31, | December 31, | |||||
2014 | 2013 | |||||
(In thousands) | ||||||
Prepaid expenses | $ | 15,531 | $ | 15,439 | ||
Core deposit and customer relationship intangibles | 11,370 | 11,912 | ||||
Other repossessed assets | 13,964 | 12,583 | ||||
Mortgage tax credits | 8,706 | 8,706 | ||||
Investment in Statutory Trust | 1,083 | 1,083 | ||||
Accounts receivable and other assets | 43,689 | 48,717 | ||||
$ | 94,343 | $ | 98,440 | |||
Prepaid expenses amounting to $15.5 million and $15.4 million at March 31, 2014 and December 31, 2013, respectively, include prepaid municipal, property and income taxes aggregating to $9.0 million and $9.6 million, respectively. | ||||||
As part of the FDIC-assisted acquisition of Eurobank and BBVAPR Acquisition, the Company recorded a core deposit intangible representing the value of checking and savings deposits acquired. At March 31, 2014 and December 31, 2013, this core deposit intangible amounted to $7.5 million and $7.8 million, respectively. In addition, as part of the BBVAPR Acquisition on December 18, 2012, the Company recorded a customer relationship intangible amounting to $5.0 million representing the value of customer relationships acquired in the broker-dealer and insurance subsidiaries as of December 31, 2012. At March 31, 2014 and December 31, 2013, this customer relationship intangible amounted to $3.9 million and $4.1million, respectively. | ||||||
Other repossessed assets totaled $14.0 million and $12.6 million at March 31, 2013 and December 31, 2013, respectively, include repossessed automobiles amounting to $13.7 million and $12.3 million, respectively. | ||||||
At March 31, 2014 and December 31, 2013, tax credits for the Company amounted $8.7 million. These tax credits do not have an expiration date. | ||||||
Deposits_and_Related_Interest
Deposits and Related Interest | 3 Months Ended | ||||||
Mar. 31, 2014 | |||||||
Deposits and Related Interest [Abstract] | ' | ||||||
DEPOSITS AND RELATED INTEREST | ' | ||||||
NOTE 9 — DEPOSITS AND RELATED INTEREST | |||||||
Total deposits as of March 31, 2014 and December 31, 2013 consist of the following: | |||||||
March 31, | December 31, | ||||||
2014 | 2013 | ||||||
(In thousands) | |||||||
Non-interest bearing demand deposits | $ | 755,909 | $ | 550,302 | |||
Interest-bearing savings and demand deposits | 2,604,664 | 2,683,996 | |||||
Individual retirement accounts | 338,719 | 347,262 | |||||
Retail certificates of deposit | 556,928 | 598,367 | |||||
Institutional certificates of deposit | 331,859 | 375,224 | |||||
Total core deposits | 4,588,079 | 4,555,151 | |||||
Brokered deposits | 712,913 | 828,114 | |||||
Total deposits | $ | 5,300,992 | $ | 5,383,265 | |||
Brokered deposits include $617.7 million in certificates of deposits and $95.2 million in money market accounts at March 31, 2014, and $729.8 million in certificates of deposits and $98.3 million in money market accounts at December 31, 2013. | |||||||
The weighted average interest rate of the Company's deposits was 0.68% at March 31, 2014 and 0.73% at December 31, 2013, inclusive of non-interest bearing deposits of $755.9 million and $550.3 million, respectively. Interest expense for the quarters ended March 31, 2014 and 2013 was as follows: | |||||||
Quarter Ended March 31, | |||||||
2014 | 2013 | ||||||
(In thousands) | |||||||
Demand and savings deposits | $ | 5,028 | $ | 5,962 | |||
Certificates of deposit | 3,950 | 3,973 | |||||
$ | 8,978 | $ | 9,935 | ||||
At March 31, 2014 and December 31, 2013, demand and interest-bearing deposits and certificates of deposit included deposits of Puerto Rico Cash & Money Market Fund, Inc., which amounted to $97.9 million and $93.1 million, respectively, with a weighted average rate of 0.77% in both years, and were collateralized with investment securities with a fair value of $77.2 million and $67.5 million, respectively. | |||||||
At March 31, 2014 and December 31, 2013, time deposits in denominations of $100 thousand or higher, excluding accrued interest and unamortized discounts, amounted to $769.1 million and $845.8 million, including public fund time deposits from various Puerto Rico government municipalities, agencies, and corporations of $6.8 million and $26.7 million, respectively, at a weighted average rate of 0.49% at March 31, 2014 and 0.32% at December 31, 2013. | |||||||
At December 31, 2013, public fund deposits from various Puerto Rico government agencies were collateralized with investment securities with a fair value of $97.8 million, and with commercial loans amounting to $547.3 million at March 31, 2014 and $549.0 million at December 31, 2013. | |||||||
Excluding equity indexed options in the amount of $11.1 million, which are used by the Company to manage its exposure to the S&P 500 Index, and also excluding accrued interests of $1.7 million and unamortized deposit discount in the amount of $3.3 million, the scheduled maturities of certificates of deposit at March 31, 2014 are as follows: | |||||||
31-Mar-14 | |||||||
(In thousands) | |||||||
Within one year: | |||||||
Three (3) months or less | $ | 303,340 | |||||
Over 3 months through 1 year | 780,260 | ||||||
1,083,600 | |||||||
Over 1 through 2 years | 351,142 | ||||||
Over 2 through 3 years | 257,750 | ||||||
Over 3 through 4 years | 84,607 | ||||||
Over 4 through 5 years | 52,029 | ||||||
$ | 1,829,128 | ||||||
The aggregate amount of overdraft in demand deposit accounts that were reclassified to loans amounted to $734 thousand and $1.8 million as of March 31, 2014 and December 31, 2013, respectively. | |||||||
Borrowings
Borrowings | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||||||
BORROWINGS | ' | ||||||||||||||||||||
NOTE 10 — BORROWINGS | |||||||||||||||||||||
Securities Sold under Agreements to Repurchase | |||||||||||||||||||||
At March 31, 2014, securities underlying agreements to repurchase were delivered to, and are being held by, the counterparties with whom the repurchase agreements were transacted. The counterparties have agreed to resell to the Company the same or similar securities at the maturity of these agreements. | |||||||||||||||||||||
At March 31, 2014 and December 31, 2013, securities sold under agreements to repurchase (classified by counterparty), excluding accrued interest in the amount of $2.2 million and $2.6 million, respectively, were as follows: | |||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Fair Value of | Fair Value of | ||||||||||||||||||||
Borrowing | Underlying | Borrowing | Underlying | ||||||||||||||||||
Balance | Collateral | Balance | Collateral | ||||||||||||||||||
(In thousands) | |||||||||||||||||||||
JP Morgan Chase Bank NA | 255,000 | 273,834 | 255,000 | 273,250 | |||||||||||||||||
Credit Suisse Securities (USA) LLC | 755,000 | 860,088 | 755,000 | 864,232 | |||||||||||||||||
Deutsche Bank | - | - | 255,000 | 272,053 | |||||||||||||||||
Total | $ | 1,010,000 | $ | 1,133,922 | $ | 1,265,000 | $ | 1,409,535 | |||||||||||||
The following table shows a summary of the Company's repurchase agreements and their terms, excluding accrued interest in the amount of $2.2 million, at March 31, 2014: | |||||||||||||||||||||
Weighted- | |||||||||||||||||||||
Borrowing | Average | Maturity | |||||||||||||||||||
Year of Maturity | Balance | Coupon | Settlement Date | Date | |||||||||||||||||
(In thousands) | |||||||||||||||||||||
2014 | $ | 85,000 | 0.68% | 12/3/12 | 12/3/14 | ||||||||||||||||
85,000 | |||||||||||||||||||||
2015 | 255,000 | 0.84% | 12/10/12 | 6/13/15 | |||||||||||||||||
255,000 | |||||||||||||||||||||
2016 | 170,000 | 1.50% | 12/6/12 | 12/8/16 | |||||||||||||||||
170,000 | |||||||||||||||||||||
2017 | 500,000 | 4.78% | 3/2/07 | 3/2/17 | |||||||||||||||||
$ | 1,010,000 | 2.89% | |||||||||||||||||||
The Company's repurchase agreement in the amount of $500 million with an original term of ten years, maturing on March 2, 2017, was modified in December 2013 to (i) eliminate the optional early termination clause that allowed the counterparty to terminate it before maturity, (ii) increase the interest rate paid by the Company from 4.67% to 4.78%; and (iii) substitute the counterparty. | |||||||||||||||||||||
The following table presents the liability associated with the repurchase transactions (excluding accrued interest), their maturities and weighted average interest rates. Also, it includes the carrying value and approximate market value of collateral (excluding accrued interest) at March 31, 2014 and December 31, 2013. The information excludes repurchase agreements transactions which were collateralized with securities or cash or which have been obtained under agreements to resell: | |||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||
Market Value of Underlying Collateral | |||||||||||||||||||||
CMOs | Obligations | ||||||||||||||||||||
Weighted | FNMA and | issued by US | of US | ||||||||||||||||||
Repurchase | Average | FHLMC | GNMA | Government | Government | ||||||||||||||||
Liability | Rate | Certificates | Certificates | Sponsored Agencies | Sponsored Agencies | Total | |||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
Over 90 days | 1,010,000 | 2.89% | 1,061,519 | 2,403 | - | 70,000 | 1,133,922 | ||||||||||||||
Total | $ | 1,010,000 | 2.89% | $ | 1,061,519 | $ | 2,403 | $ | - | $ | 70,000 | $ | 1,133,922 | ||||||||
31-Dec-13 | |||||||||||||||||||||
Market Value of Underlying Collateral | |||||||||||||||||||||
CMOs | Obligations | ||||||||||||||||||||
Weighted | FNMA and | issued by US | of US | ||||||||||||||||||
Repurchase | Average | FHLMC | GNMA | Government | Government | ||||||||||||||||
Liability | Rate | Certificates | Certificates | Sponsored Agencies | Sponsored Agencies | Total | |||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
Within 30 days | $ | 255,000 | 0.50% | $ | 216,201 | $ | - | $ | 48,923 | $ | 6,929 | $ | 272,053 | ||||||||
Over 90 days | 1,010,000 | 2.89% | 1,018,632 | 3,000 | 45,100 | 3,720 | 1,070,452 | ||||||||||||||
Total | $ | 1,265,000 | 2.41% | $ | 1,234,833 | $ | 3,000 | $ | 94,023 | $ | 10,649 | $ | 1,342,505 | ||||||||
Advances from the Federal Home Loan Bank of New York | |||||||||||||||||||||
Advances are received from the FHLB-NY under an agreement whereby the Company is required to maintain a minimum amount of qualifying collateral with a fair value of at least 110% of the outstanding advances. At March 31, 2014 and December 31, 2013, these advances were secured by mortgage and commercial loans amounting to $1.2 billion and $1.3 billion, respectively. Also, at March 31, 2014 and December 31, 2013 the Company had an additional borrowing capacity with the FHLB-NY of $614.1 million and $674.2 million, respectively. At March 31, 2014 and December 31, 2013, the weighted average remaining maturity of FHLB's advances was 10.7 months and 11.3 months, respectively. The original terms of these advances range between one month and seven years, and the FHLB-NY does not have the right to exercise put options at par on any advances outstanding as of March 31, 2014. | |||||||||||||||||||||
The following table shows a summary of these advances and their terms, excluding accrued interest in the amount of $327 thousand, at March 31, 2014: | |||||||||||||||||||||
Weighted- | |||||||||||||||||||||
Borrowing | Average | Maturity | |||||||||||||||||||
Year of Maturity | Balance | Coupon | Settlement Date | Date | |||||||||||||||||
(In thousands) | |||||||||||||||||||||
2014 | $ | 25,000 | 0.37% | 3/4/14 | 4/4/14 | ||||||||||||||||
50,000 | 0.39% | 3/10/14 | 4/10/14 | ||||||||||||||||||
100,000 | 0.38% | 3/17/14 | 4/16/14 | ||||||||||||||||||
25,000 | 0.36% | 3/24/14 | 4/24/14 | ||||||||||||||||||
25,000 | 0.36% | 3/31/14 | 4/30/14 | ||||||||||||||||||
40,277 | 0.37% | 3/3/14 | 4/1/14 | ||||||||||||||||||
265,277 | |||||||||||||||||||||
2017 | 4,673 | 1.24% | 4/3/12 | 4/3/17 | |||||||||||||||||
2018 | 30,000 | 2.19% | 1/16/13 | 1/16/18 | |||||||||||||||||
25,000 | 2.18% | 1/16/13 | 1/16/18 | ||||||||||||||||||
55,000 | |||||||||||||||||||||
2020 | 10,413 | 2.59% | 7/19/13 | 7/20/20 | |||||||||||||||||
$ | 335,363 | 0.75% | |||||||||||||||||||
All of the advances referred to above with maturity dates up to the date of this report were renewed as one-month short-term advances. | |||||||||||||||||||||
Subordinated Capital Notes | |||||||||||||||||||||
Subordinated capital notes amounted to $100.4 million at March 31, 2014 and $100.0 million at December 31, 2013. | |||||||||||||||||||||
Under the requirements of Puerto Rico Banking Act, the Bank must establish a redemption fund for the subordinated capital notes by transferring from undivided profits pre-established amounts as follows: | |||||||||||||||||||||
Redemption fund | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Redemption fund - March 31, 2014 | $ | 48,575 | |||||||||||||||||||
2014 | 6,700 | ||||||||||||||||||||
2015 | 6,700 | ||||||||||||||||||||
2016 | 5,025 | ||||||||||||||||||||
$ | 67,000 | ||||||||||||||||||||
Federal Funds Purchased | |||||||||||||||||||||
Federal funds purchased, presented in the unaudited consolidated statement of financial condition amounted to $23.7 million as of March 31, 2014. The weighted average interest rate during such period was 0.24%. | |||||||||||||||||||||
Other borrowings | |||||||||||||||||||||
Other borrowings, presented in the unaudited consolidated statement of financial condition amounted to $3.7 million at March 31, 2014 and December 31, 2013, which mainly consists of unsecured fixed-rate borrowings and term notes tied to the appreciation of the S&P index. For both periods, the unsecured fixed rate borrowings amounted to $1.7 million at a fixed rate of 3.0%. The term notes tied to the S&P index amounted to $1.0 million at March 31, 2014 and at December 31, 2013 with an index appreciation of $995 thousand and $957 thousand, respectively. | |||||||||||||||||||||
Offsetting_Arrangements
Offsetting Arrangements | 3 Months Ended | ||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||
Offsetting [Abstract] | ' | ||||||||||||||||||
Balance sheet Offsetting [Text Block] | ' | ||||||||||||||||||
NOTE 11 – OFFSETTING OF FINANCIAL ASSETS AND LIABILITIES | |||||||||||||||||||
The following table presents the potential effect of rights of set-off associated with the Company's recognized financial assets and liabilities at March 31, 2014 and December 31, 2013: | |||||||||||||||||||
31-Mar-14 | |||||||||||||||||||
Gross Amounts Not Offset in the Statement of Financial Condition | |||||||||||||||||||
Gross Amounts | Net Amount of | ||||||||||||||||||
Offset in the | Assets Presented | ||||||||||||||||||
Gross Amount | Statement of | in Statement | Cash | ||||||||||||||||
of Recognized | Financial | of Financial | Financial | Collateral | Net | ||||||||||||||
Assets | Condition | Condition | Instruments | Received | Amount | ||||||||||||||
(In thousands) | |||||||||||||||||||
Derivatives | $ | 15,861 | $ | - | $ | 15,861 | $ | 6,814 | $ | - | $ | 9,047 | |||||||
Total | $ | 15,861 | $ | - | $ | 15,861 | $ | 6,814 | $ | - | $ | 9,047 | |||||||
31-Dec-13 | |||||||||||||||||||
Gross Amounts Not Offset in the Statement of Financial Condition | |||||||||||||||||||
Gross Amounts | Net amount of | ||||||||||||||||||
Offset in the | Assets Presented | ||||||||||||||||||
Gross Amount | Statement of | in Statement | Cash | ||||||||||||||||
of Recognized | Financial | of Financial | Financial | Collateral | Net | ||||||||||||||
Assets | Condition | Condition | Instruments | Received | Amount | ||||||||||||||
(In thousands) | |||||||||||||||||||
Derivatives | $ | 20,502 | $ | - | $ | 20,502 | $ | 2,450 | $ | 6,780 | $ | 11,272 | |||||||
Securities purchased under agreements to resell | 60,000 | - | 60,000 | 64,587 | - | -4,587 | |||||||||||||
Total | $ | 80,502 | $ | - | $ | 80,502 | $ | 67,037 | $ | 6,780 | $ | 6,685 | |||||||
31-Mar-14 | |||||||||||||||||||
Gross Amounts Not Offset in the Statement of Financial Condition | |||||||||||||||||||
Net Amount of | |||||||||||||||||||
Gross Amounts | Liabilities | ||||||||||||||||||
Offset in the | Presented | ||||||||||||||||||
Gross Amount | Statement of | in Statement | Cash | ||||||||||||||||
of Recognized | Financial | of Financial | Financial | Collateral | Net | ||||||||||||||
Liabilities | Condition | Condition | Instruments | Provided | Amount | ||||||||||||||
(In thousands) | |||||||||||||||||||
Derivatives | $ | 25,950 | $ | - | $ | 25,950 | $ | - | $ | 2,980 | $ | 22,970 | |||||||
Securities sold under agreements to repurchase | 1,010,000 | - | 1,010,000 | 1,133,922 | - | -123,922 | |||||||||||||
Total | $ | 1,035,950 | $ | - | $ | 1,035,950 | $ | 1,133,922 | $ | 2,980 | $ | -100,952 | |||||||
31-Dec-13 | |||||||||||||||||||
Gross Amounts Not Offset in the Statement of Financial Condition | |||||||||||||||||||
Net Amount of | |||||||||||||||||||
Gross Amounts | Liabilities | ||||||||||||||||||
Offset in the | Presented | ||||||||||||||||||
Gross Amount | Statement of | in Statement | Cash | ||||||||||||||||
of Recognized | Financial | of Financial | Financial | Collateral | Net | ||||||||||||||
Liabilities | Condition | Condition | Instruments | Provided | Amount | ||||||||||||||
(In thousands) | |||||||||||||||||||
Derivatives | $ | 30,672 | $ | - | $ | 30,672 | $ | - | $ | 2,349 | $ | 28,323 | |||||||
Securities sold under agreements to repurchase | 1,265,000 | - | 1,265,000 | 1,277,919 | 67,029 | -79,948 | |||||||||||||
Total | $ | 1,295,672 | $ | - | $ | 1,295,672 | $ | 1,277,919 | $ | 69,378 | $ | -51,625 | |||||||
The Company's derivatives are subject to agreements which allow a right of set-off with each respective counterparty. In addition, the Company's securities purchased under agreements to resell and securities sold under agreements to repurchase have a right of set-off with the respective counterparty under the supplemental terms of the Master Repurchase Agreements. In an event of default, each party has a right of set-off against the other party for amounts owed in the related agreements and any other amount or obligation owed in respect of any other agreement or transaction between them. Security collateral posted to open and maintain a master netting agreement with a counterparty, in the form of cash and securities, may from time to time be segregated in an account at a third-party custodian pursuant to a tri-party Account Control Agreement. | |||||||||||||||||||
Related_Party_Transactions
Related Party Transactions | 3 Months Ended | |||||
Mar. 31, 2014 | ||||||
Related Party Transactions [Abstract] | ' | |||||
RELATED PARTY TRANSACTIONS | ' | |||||
NOTE 12 — RELATED PARTY TRANSACTIONS | ||||||
The Bank grants loans to its directors, executive officers and to certain related individuals or organizations in the ordinary course of business. These loans are offered at the same terms as loans to unrelated third parties. As of March 31, 2014 and December 31, 2013, these loan balances amounted to $19.3 million and $19.0 million, respectively. The activity and balance of these loans for the quarters ended March 31, 2014 and 2013 were as follows: | ||||||
Quarter Ended March 31, | ||||||
2014 | 2013 | |||||
(In thousands) | ||||||
Balance at the beginning of year | $ | 18,963 | $ | 3,772 | ||
New loans | - | 2,435 | ||||
Repayments and sales | 304 | -95 | ||||
Credits of persons no longer considered related parties | - | -57 | ||||
Balance at the end of year | $ | 19,267 | $ | 6,055 |
Income_Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2014 | |
Income Taxes [Abstract] | ' |
INCOME TAXES | ' |
NOTE 13 — INCOME TAXES | |
On June 30, 2013 the Governor signed Act No. 40-2013, known as “Ley de Redistribución y Ajuste de la Carga Contributiva” (Act of Redistribution and Adjustment of Tax Burden), as amended. The main purpose of the Act is to increase government collections in order to alleviate the structural deficit. The most relevant provisions of the Act, as applicable to the Company, and effective for taxable years beginning after December 31,2012 are as follows: (1) the maximum Corporate Income Tax rate was increased from 30% to 39%; (2) the deduction allowed for determining the income subject to surtax was reduced from $750,000 to $25,000 (which must be allocated among the members of a controlled group of corporations); (3) the allowable Net Operating Loss (“NOL”) deduction was reduced to (i) 90% of the corporation's net income subject to regular tax for purposes of computing the regular income tax, and (ii) 80% of the alternative minimum taxable income for purposes of computing the alternative minimum tax (“AMT”); (4) the NOL carryover period was extended from 10 to 12 years for NOLs incurred in taxable years beginning after December 31, 2004 and before January 1, 2013, and from 7 to 10 years for losses incurred in taxable years beginning after December 31, 2012; (5) a new special tax based on gross income (the “Special Tax”) was added to the Puerto Rico Internal Revenue Code of 2011, as further described below; and (6) a special tax of 1% was imposed on insurance premiums earned after June 30, 2013. | |
In the case of non-financial institutions, the Special Tax is paid as part of the AMT and thus is accounted for under the provisions of ASC 740. The applicable Special Tax rate for non-financial institutions increases gradually from 0.2% for gross income equal to or in excess of $1.0 million up to 0.85% for gross income in excess of $1.5 billion. In the case of a controlled group of corporations, the tax rate for all members of the group is determined by the aggregate gross income of all members in the group. In the case of financial institutions, the Special Tax is not part of the AMT calculation thus is accounted for as other tax not subject to the provisions of ASC 740 since the same is based on gross income. The applicable Special Tax rate for financial institutions is 1% of its gross income of a taxable year, of which fifty percent (50%) may be claimed as a credit against the financial institution's applicable income tax of that year. | |
At March 31, 2014 and December 31, 2013, the Company's net deferred tax asset amounted to $127.7 million and $137.6 million, respectively. In assessing the realizability of the deferred tax asset, management considers whether it is more likely than not that some portion or the entire deferred tax asset will not be realized. The ultimate realization of the deferred tax asset is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Based upon the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax asset are deductible, management believes it is more likely than not that the Company will realize the entire deferred tax asset, net of the existing valuation allowances recorded at March 31, 2014 and December 31, 2013. The amount of the deferred tax asset considered realizable, however, could be reduced in the near term if estimates of future taxable income during the carryforward period are reduced. | |
At March 31, 2014 and December 31, 2013, Oriental International Bank Inc. (“OIB”), the Bank's international banking entity subsidiary, had $219 thousand and $356 thousand, respectively, in income tax effect of unrecognized gain on available-for-sale securities included in other comprehensive income. Following the change in OIB's applicable tax rate from 5% to 0% as a result of a Puerto Rico law adopted in 2011, this remaining tax balance will flow through income as these securities are repaid or sold in future periods. During the quarters ended March 31, 2014 and 2013, $137 thousand and $47 thousand, respectively, related to this residual tax effect from OIB was reclassified from accumulated other comprehensive income into income tax provision. | |
The Company classifies unrecognized tax benefits in income taxes payable. These gross unrecognized tax benefits would affect the effective tax rate if realized. The balance of unrecognized tax benefits at March 31, 2014 was $4.0 million (December 31, 2013 - $4.0 million). The Company had accrued $1.6 million at March 31, 2014 (December 31, 2013 - $1.2 million) for the payment of interest and penalties relating to unrecognized tax benefits. | |
Income tax expense was $11.8 million for the quarter ended March 31, 2014, compared to $7.1 million for the same period in 2013. The increase in enacted tax rate from 30% to 39% from the second quarter 2013 amendment to the Puerto Rico tax Code resulted in the increased quarterly income tax expense for this quarter as compared to the same quarter of 2013. |
Stockholders_Equity_and_Earnin
Stockholders' Equity and Earnings Per Common Share | 3 Months Ended | |||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||
Stockholders' Equity [Abstract] | ' | |||||||||||||||||
STOCKHOLDERS' EQUITY | ' | |||||||||||||||||
NOTE 14 — STOCKHOLDERS' EQUITY AND EARNINGS PER COMMON SHARE | ||||||||||||||||||
Regulatory Capital Requirements | ||||||||||||||||||
The Company (on a consolidated basis) and the Bank are subject to various regulatory capital requirements administered by federal and Puerto Rico banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company's and the Bank's financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Pursuant to the Dodd-Frank Act, federal banking regulators have adopted new capital rules that became effective January 1, 2014 for advanced approaches banking organizations and will become effective January 1, 2015 for all other covered organizations (subject to certain phase-in periods through January 1, 2019) and that will replace their general risk-based capital rules, advanced approaches rule, market risk rule, and leverage rules. | ||||||||||||||||||
Quantitative measures established by regulation to ensure capital adequacy currently require the Company and the Bank to maintain minimum amounts and ratios (set forth in the following table) of total and Tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined in the regulations) and of Tier 1 capital to average total assets (as defined in the regulations). As of March 31, 2014 and December 31, 2013, the Company and the Bank met all capital adequacy requirements to which they are subject. As of March 31, 2014 and December 31, 2013, the Bank is “well capitalized” under the regulatory framework for prompt corrective action. To be categorized as “well capitalized,” an institution must maintain minimum total risk-based, Tier 1 risk-based and Tier 1 leverage ratios as set forth in the following tables. | ||||||||||||||||||
The Company's and the Bank's actual capital amounts and ratios as of March 31, 2014 and December 31, 2013 are as follows | ||||||||||||||||||
Minimum Capital | Minimum to be Well | |||||||||||||||||
Actual | Requirement | Capitalized | ||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||
(Dollars in thousands) | ||||||||||||||||||
Company Ratios | ||||||||||||||||||
As of March 31, 2014 | ||||||||||||||||||
Total capital to risk-weighted assets | $ | 836,168 | 16.56% | $ | 404,054 | 8.00% | $ | 505,067 | 10.00% | |||||||||
Tier 1 capital to risk-weighted assets | $ | 745,619 | 14.76% | $ | 202,027 | 4.00% | $ | 303,040 | 6.00% | |||||||||
Tier 1 capital to average total assets | $ | 745,619 | 9.51% | $ | 313,594 | 4.00% | $ | 391,993 | 5.00% | |||||||||
As of December 31, 2013 | ||||||||||||||||||
Total capital to risk-weighted assets | $ | 827,460 | 16.16% | $ | 409,514 | 8.00% | $ | 511,893 | 10.00% | |||||||||
Tier 1 capital to risk-weighted assets | $ | 736,930 | 14.35% | $ | 204,757 | 4.00% | $ | 307,136 | 6.00% | |||||||||
Tier 1 capital to average total assets | $ | 736,930 | 9.11% | $ | 324,910 | 4.00% | $ | 406,138 | 5.00% | |||||||||
Minimum Capital | Minimum to be Well | |||||||||||||||||
Actual | Requirement | Capitalized | ||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||
(Dollars in thousands) | ||||||||||||||||||
Bank Ratios | ||||||||||||||||||
As of March 31, 2014 | ||||||||||||||||||
Total capital to risk-weighted assets | $ | 805,900 | 16.02% | $ | 402,495 | 8.00% | $ | 503,119 | 10.00% | |||||||||
Tier 1 capital to risk-weighted assets | $ | 715,591 | 14.22% | $ | 201,248 | 4.00% | $ | 301,871 | 6.00% | |||||||||
Tier 1 capital to average total assets | $ | 715,591 | 9.18% | $ | 311,659 | 4.00% | $ | 389,574 | 5.00% | |||||||||
As of December 31, 2013 | ||||||||||||||||||
Total capital to risk-weighted assets | $ | 779,413 | 15.30% | $ | 407,637 | 8.00% | $ | 509,547 | 10.00% | |||||||||
Tier 1 capital to risk-weighted assets | $ | 688,350 | 13.51% | $ | 203,819 | 4.00% | $ | 305,728 | 6.00% | |||||||||
Tier 1 capital to average total assets | $ | 688,350 | 8.54% | $ | 322,395 | 4.00% | $ | 402,993 | 5.00% | |||||||||
Additional paid-in capital | ||||||||||||||||||
Additional paid-in capital represents contributed capital in excess of par value of common and preferred stock net of costs of the issuance. As of March 31, 2014, accumulated issuance costs charged against additional paid in capital amounted to $10.1 million and $13.6 million for preferred and common stock, respectively. | ||||||||||||||||||
Earnings per Common Share | ||||||||||||||||||
The calculation of earnings per common share for the quarters ended March 31, 2014 and 2013 is as follows: | ||||||||||||||||||
Quarter Ended March 31, | ||||||||||||||||||
2014 | 2013 | |||||||||||||||||
(In thousands, except per share data) | ||||||||||||||||||
Net income | $ | 23,747 | $ | 21,192 | ||||||||||||||
Less: Dividends on preferred stock | ||||||||||||||||||
Non-Convertible Preferred Stock (Series A, B, and D) | -1,628 | -1,628 | ||||||||||||||||
Convertible preferred stock (Series C) | -1,837 | -1,837 | ||||||||||||||||
Income available to common shareholders | $ | 20,282 | $ | 17,727 | ||||||||||||||
Effect of assumed conversion of the Convertible Preferred Stock | 1,837 | 1,837 | ||||||||||||||||
Income available to common shareholders assuming conversion | $ | 22,119 | $ | 19,564 | ||||||||||||||
Weighted average common shares and share equivalents: | ||||||||||||||||||
Average common shares outstanding | 45,329 | 45,595 | ||||||||||||||||
Effect of dilutive securities: | ||||||||||||||||||
Average potential common shares-options | 131 | 159 | ||||||||||||||||
Average potential common shares-assuming conversion of ' ' convertible preferred stock | 7,138 | 7,138 | ||||||||||||||||
Total weighted average common shares outstanding ' 'and equivalents | 52,598 | 52,892 | ||||||||||||||||
Earnings per common share - basic | $ | 0.45 | $ | 0.39 | ||||||||||||||
Earnings per common share - diluted | $ | 0.42 | $ | 0.37 | ||||||||||||||
In computing diluted earnings per common share, the 84,000 shares of convertible preferred stock, which remain outstanding at March 31, 2014, with a conversion rate, subject to certain conditions, of 84.9798 shares of common stock per share, were included as average potential common shares from the date they were issued and outstanding. Moreover, in computing diluted earnings per common share, the dividends declared during the quarters ended March 31, 2014 and 2013 on the convertible preferred stock were added back as income available to common shareholders. | ||||||||||||||||||
For the quarters ended March 31, 2014 and 2013, weighted-average stock options with an anti-dilutive effect on earnings per share not included in the calculation amounted to 254,662, and 653,843, respectively | ||||||||||||||||||
Treasury Stock | ||||||||||||||||||
Under the Company's current stock repurchase program it is authorized to purchase in the open market up to $70 million of its outstanding shares of common stock, of which approximately $23.1 million of authority remains. The shares of common stock repurchased are to be held by the Company as treasury shares. During the quarter ended March 31, 2014, the Company purchased 707,400 shares under this program for a total of $10.4 million, at an average price of $14.66 per share. There were no repurchases during 2013. | ||||||||||||||||||
The following table presents the shares repurchased for each month in the quarter ended March 31, 2014, excluding the month ended March 31, 2014, during which no shares were purchased as part of the stock repurchase program: | ||||||||||||||||||
Total number of | Dollar amount of | |||||||||||||||||
shares purchased as | Average | shares repurchased | ||||||||||||||||
part of stock | price paid | (excluding | ||||||||||||||||
repurchase programs | per share | commissions paid) | ||||||||||||||||
(In thousands) | ||||||||||||||||||
Period | ||||||||||||||||||
Jan-14 | 57,700 | $ | 14.73 | $ | 850 | |||||||||||||
Feb-14 | 649,700 | $ | 14.66 | $ | 9,522 | |||||||||||||
Quarter ended March 31, 2014 | 707,400 | 14.66 | 10,372 | |||||||||||||||
The number of shares that may yet be purchased under the $70 million program is estimated at 1,341,002 and was calculated by dividing the remaining balance of $23.1 million by $17.19 (closing price of the Company common stock at March 31, 2014). The Company did not purchase any shares of its common stock other than through its publicly announced stock repurchase program during the quarter ended March 31, 2014. | ||||||||||||||||||
The activity in connection with common shares held in treasury by the Company for quarters ended March 31, 2014 and 2013 is set forth below: | ||||||||||||||||||
Quarter Ended March 31, | ||||||||||||||||||
2014 | 2013 | |||||||||||||||||
Dollar | Dollar | |||||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||||
(In thousands, except shares data) | ||||||||||||||||||
Beginning of year | 7,030,101 | $ | 80,642 | 7,090,597 | $ | 81,275 | ||||||||||||
Common shares used upon lapse of restricted stock units | -27,752 | -292 | -33,600 | -351 | ||||||||||||||
Common shares repurchased as part of the stock repurchase program | 707,400 | 10,393 | - | - | ||||||||||||||
Common shares used to match defined contribution plan, net | - | - | -7,318 | -77 | ||||||||||||||
End of year | 7,709,749 | $ | 90,743 | 7,049,679 | $ | 80,847 | ||||||||||||
Accumulated Other Comprehensive Income | ||||||||||||||||||
Accumulated other comprehensive income, net of income tax, as of March 31, 2014 and December 31, 2013 consisted of: | ||||||||||||||||||
March 31, | December 31, | |||||||||||||||||
2014 | 2013 | |||||||||||||||||
(In thousands) | ||||||||||||||||||
Unrealized gain on securities available-for-sale which are not other-than-temporarily impaired | $ | 18,464 | $ | 13,267 | ||||||||||||||
Income tax effect of unrealized gain on securities available-for-sale | -2,429 | -1,834 | ||||||||||||||||
Net unrealized gain on securities available-for-sale which are not other-than-temporarily impaired | 16,035 | 11,433 | ||||||||||||||||
Unrealized loss on cash flow hedges | -10,529 | -10,907 | ||||||||||||||||
Income tax effect of unrealized loss on cash flow hedges | 2,516 | 2,665 | ||||||||||||||||
Net unrealized loss on cash flow hedges | -8,013 | -8,242 | ||||||||||||||||
Accumulated other comprehensive income, net of taxes | $ | 8,022 | $ | 3,191 | ||||||||||||||
The following table presents changes in accumulated other comprehensive income by component, net of taxes, for the quarters ended March 31, 2014 and 2013: | ||||||||||||||||||
Quarter Ended March 31, | ||||||||||||||||||
2014 | 2013 | |||||||||||||||||
Net unrealized | Net unrealized | Accumulated | Net unrealized | Net unrealized | Accumulated | |||||||||||||
gains on | loss on | other | gains on | loss on | other | |||||||||||||
securities | cash flow | comprehensive | securities | cash flow | comprehensive | |||||||||||||
available-for-sale | hedges | income | available-for-sale | hedges | income | |||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||
Beginning balance | $ | 11,433 | $ | -8,242 | $ | 3,191 | $ | 68,245 | $ | -12,365 | $ | 55,880 | ||||||
Other comprehensive income before reclassifications | 4,465 | -1,392 | 3,073 | -9,899 | -313 | -10,212 | ||||||||||||
Amounts reclassified out of accumulated other comprehensive income | 137 | 1,621 | 1,758 | 47 | 1,336 | 1,383 | ||||||||||||
Other comprehensive income (loss) | 4,602 | 229 | 4,831 | -9,852 | 1,023 | -8,829 | ||||||||||||
Ending balance | $ | 16,035 | $ | -8,013 | $ | 8,022 | $ | 58,393 | $ | -11,342 | $ | 47,051 | ||||||
The following table presents reclassifications out of accumulated other comprehensive income for the quarters ended March 31, 2014 and 2013: | ||||||||||||||||||
Affected Line Item in | ||||||||||||||||||
Quarter ended March 31, | Consolidated Statement | |||||||||||||||||
2014 | 2013 | of Operations | ||||||||||||||||
(In thousands) | ||||||||||||||||||
Cash flow hedges: | ||||||||||||||||||
Interest-rate contracts | $ | 1,621 | $ | 1,336 | Net interest expense | |||||||||||||
Available-for-sale securities: | ||||||||||||||||||
Residual tax effect from OIB's change in applicable tax rate | 137 | 47 | Income tax expense | |||||||||||||||
$ | 1,758 | $ | 1,383 |
Guarantees
Guarantees | 3 Months Ended | |||||
Mar. 31, 2014 | ||||||
Guarantees [Abstract] | ' | |||||
Guarantees [Text Block] | ' | |||||
NOTE 15 – GUARANTEES | ||||||
At March 31, 2014 the unamortized balance of the obligations undertaken in issuing the guarantees under standby letters of credit represented a liability of $38.9 million (December 31, 2013 - $38.6 million). | ||||||
The Company assumed a liability for residential mortgage loans sold by BBVAPR Bank subject to credit recourse, principally loans associated with FNMA residential mortgage loan sales and securitization programs. At March 31, 2014 and December 31, 2013, the unpaid principal balance of residential mortgage loans sold subject to credit recourse was $118.2 million and $122.3 million, respectively. In the event of any customer default, pursuant to the credit recourse provided, the Company is required to repurchase the loan or reimburse the third party investor for the incurred loss. The maximum potential amount of future payments that the Company would be required to make under the recourse arrangements in the event of nonperformance by the borrowers is equivalent to the total outstanding balance of the residential mortgage loans serviced with recourse and interest, if applicable. During the quarter ended March 31, 2014, the Company repurchased approximately $1.6 million of unpaid principal balance in mortgage loans subject to the credit recourse provisions. In the event of nonperformance by the borrower, the Company has rights to the underlying collateral securing the mortgage loan. The Company suffers ultimate losses on these loans when the proceeds from a foreclosure sale of the property underlying a defaulted mortgage loan are less than the outstanding principal balance of the loan plus any uncollected interest advanced and the costs of holding and disposing the related property. At March 31, 2014 and December 31, 2013 the Company's liability established to cover the estimated credit loss exposure related to loans sold with credit recourse amounted to $1.5 million (December 31, 2013 – $2.0 million). The following table shows the changes in the Company's liability of estimated loss from these credit recourse agreements, included in the unaudited consolidated statements of financial condition during the quarters ended March 31, 2014 and 2013. | ||||||
Quarter Ended March 31, | ||||||
2014 | 2013 | |||||
(In thousands) | ||||||
Balance at beginning of year | $ | 1,955 | $ | - | ||
Additions from BBVAPR Acquisition | - | 2,460 | ||||
Net charge-offs/terminations | -406 | - | ||||
Balance at end of year | $ | 1,549 | $ | 2,460 | ||
The estimated losses to be absorbed under the credit recourse arrangements are recorded as a liability when the loans are sold or credit recourse is assumed, and are updated on a quarterly basis. The expected loss, which represents the amount expected to be lost on a given loan, considers the probability of default and loss severity. The probability of default represents the probability that a loan in good standing would become 120 days delinquent, in which case the Company is obligated to repurchase the loan. At March 31, 2014, $86.5 million or 73% of the recourse obligation will be extinguished during the next two years. | ||||||
When the Company sells or securitizes mortgage loans, it generally makes customary representations and warranties regarding the characteristics of the loans sold. The Company's mortgage operations division groups conforming mortgage loans into pools which are exchanged for FNMA and GNMA mortgage-backed securities, which are generally sold to private investors, or are sold directly to FNMA or other private investors for cash. As required under such mortgage backed securities programs, quality review procedures are performed by the Company to ensure that asset guideline qualifications are met. To the extent the loans do not meet specified characteristics, the Company may be required to repurchase such loans or indemnify for losses and bear any subsequent loss related to the loans. Repurchases during the quarter ended March 31, 2014 under the Company's representation and warranty arrangements, excluding mortgage loans subject to credit recourse provisions referred to above, approximated $2.8 million in unpaid principal balance (December 31, 2013 - $12.5 million). A substantial amount of these loans reinstate to performing status or have mortgage insurance, and thus the ultimate losses on the loans are not deemed significant. | ||||||
During the quarter ended March 31, 2014, the Company recognized $50 thousand in losses from the repurchase of residential mortgage loans sold, subject to credit recourse and $434 thousand not subject to credit recourse. In addition, during the quarter ended March 31, 2013, the Company recognized $25 thousand in losses from the repurchase of residential mortgage loans sold, subject to credit recourse and $2 thousand not subject to credit recourse. | ||||||
Servicing agreements relating to the mortgage-backed securities programs of FNMA and GNMA, and to mortgage loans sold or serviced to certain other investors, including FHLMC, require the Company to advance funds to make scheduled payments of principal, interest, taxes and insurance, if such payments have not been received from the borrowers. At March 31, 2014, the Company serviced $1.1 billion in mortgage loans for third-parties. The Company generally recovers funds advanced pursuant to these arrangements from the mortgage owner, from liquidation proceeds when the mortgage loan is foreclosed or, in the case of FHA/VA loans, under the applicable FHA and VA insurance and guarantees programs. However, in the meantime, the Company must absorb the cost of the funds it advances during the time the advance is outstanding. The Company must also bear the costs of attempting to collect on delinquent and defaulted mortgage loans. In addition, if a defaulted loan is not cured, the mortgage loan would be canceled as part of the foreclosure proceedings and the Company would not receive any future servicing income with respect to that loan. At March 31, 2014, the outstanding balance of funds advanced by the Company under such mortgage loan servicing agreements was approximately $323 thousand (December 31, 2013 - $243 thousand). To the extent the mortgage loans underlying the Company's servicing portfolio experience increased delinquencies, the Company would be required to dedicate additional cash resources to comply with its obligation to advance funds as well as incur additional administrative costs related to increases in collection efforts. |
Commitments_and_Contingencies
Commitments and Contingencies | 3 Months Ended | |||||
Mar. 31, 2014 | ||||||
Commitments and Contingencies [Abstract] | ' | |||||
COMMITMENTS | ' | |||||
NOTE 16 — COMMITMENTS AND CONTINGENCIES | ||||||
Loan Commitments | ||||||
In the normal course of business, the Company becomes a party to credit-related financial instruments with off-balance-sheet risk to meet the financing needs of its customers. These financial instruments include commitments to extend credit, standby and commercial letters of credit, and financial guarantees. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized in the consolidated statements of financial condition. The contract or notional amount of those instruments reflects the extent of the Company's involvement in particular types of financial instruments. | ||||||
The Company's exposure to credit losses in the event of nonperformance by the counterparty to the financial instrument for commitments to extend credit, including commitments under credit card arrangements, and commercial letters of credit is represented by the contractual notional amounts of those instruments, which do not necessarily represent the amounts potentially subject to risk. In addition, the measurement of the risks associated with these instruments is meaningful only when all related and offsetting transactions are identified. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. | ||||||
Summarized credit-related financial instruments at March 31, 2014 and December 31, 2013 were as follows: | ||||||
March 31, | December 31, | |||||
2014 | 2013 | |||||
(In thousands) | ||||||
Commitments to extend credit | $ | 494,327 | $ | 520,269 | ||
Commercial letters of credit | 1,740 | 1,096 | ||||
Commitments to extend credit represent agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. The Company evaluates each customer's creditworthiness on a case-by-case basis. The amount of collateral obtained, if it is deemed necessary by the Company upon the extension of credit, is based on management's credit evaluation of the counterparty. | ||||||
At March 31, 2014 and December 31, 2013, commitments to extend credit consisted mainly of undisbursed available amounts on commercial lines of credit, construction loans, and revolving credit card arrangements. Since many of the unused commitments are expected to expire unused or be only partially used, the total amount of these unused commitments does not necessarily represent future cash requirements. These lines of credit had a reserve of $900 thousand at both March 31, 2014 and December 31, 2013. | ||||||
Commercial letters of credit are issued or confirmed to guarantee payment of customers' payables or receivables in short-term international trade transactions. Generally, drafts will be drawn when the underlying transaction is consummated as intended. However, the short-term nature of this instrument serves to mitigate the risk associated with these contracts. | ||||||
The summary of instruments that are considered financial guarantees in accordance with the authoritative guidance related to guarantor's accounting and disclosure requirements for guarantees, including indirect guarantees of indebtedness of others, at March 31, 2014 and December 31, 2013, is as follows: | ||||||
March 31, | December 31, | |||||
2014 | 2013 | |||||
(In thousands) | ||||||
Standby letters of credit and financial guarantees | $ | 38,875 | $ | 38,577 | ||
Loans sold with recourse | 118,163 | 122,291 | ||||
Commitments to sell or securitize mortgage loans | 34,220 | 99,307 | ||||
Standby letters of credit and financial guarantees are written conditional commitments issued by the Company to guarantee the payment and/or performance of a customer to a third party (“beneficiary”). If the customer fails to comply with the agreement, the beneficiary may draw on the standby letter of credit or financial guarantee as a remedy. The amount of credit risk involved in issuing letters of credit in the event of nonperformance is the face amount of the letter of credit or financial guarantee. These guarantees are primarily issued to support public and private borrowing arrangements, including commercial paper, bond financing, and similar transactions. The amount of collateral obtained, if it is deemed necessary by the Company upon extension of credit, is based on management's credit evaluation of the customer. | ||||||
Lease Commitments | ||||||
The Company has entered into various operating lease agreements for branch facilities and administrative offices. Rent expense for the quarters ended March 31, 2014 and 2013, amounted to $2.5 million, and $2.7 million, respectively, and is included in the “occupancy and equipment” caption in the unaudited consolidated statements of operations. Future rental commitments under leases in effect at March 31, 2014, exclusive of taxes, insurance, and maintenance expenses payable by the Company, are summarized as follows: | ||||||
Quarter Ending March 31, | Minimum Rent | |||||
(In thousands) | ||||||
2014 | $ | 6,170 | ||||
2015 | 8,013 | |||||
2016 | 7,388 | |||||
2017 | 6,761 | |||||
2018 | 5,864 | |||||
Thereafter | 22,004 | |||||
$ | 56,200 | |||||
CONTINGENCIES | ' | |||||
Contingencies | ||||||
The Company and its subsidiaries are defendants in a number of legal proceedings incidental to their business. In the ordinary course of business, the Company and its subsidiaries are also subject to governmental and regulatory examinations. Certain subsidiaries of the Company, including the Bank (and its subsidiary OIB), Oriental Financial Services, and Oriental Insurance, are subject to regulation by various U.S., Puerto Rico and other regulators. | ||||||
The Company seeks to resolve all litigation and regulatory matters in the manner management believes is in the best interests of the Company and its shareholders, and contests allegations of liability or wrongdoing and, where applicable, the amount of damages or scope of any penalties or other relief sought as appropriate in each pending matter. | ||||||
Subject to the accounting and disclosure framework under the provisions of ASC 450, it is the opinion of the Company's management, based on current knowledge and after taking into account its current legal accruals, that the eventual outcome of all matters would not be likely to have a material adverse effect on the consolidated statements of financial condition of the Company. Nonetheless, given the substantial or indeterminate amounts sought in certain of these matters, and the inherent unpredictability of such matters, an adverse outcome in certain of these matters could, from time to time, have a material adverse effect on the Company's consolidated results of operations or cash flows in particular quarterly or annual periods. The Company has evaluated all litigation and regulatory matters where the likelihood of a potential loss is deemed reasonably possible. The Company has determined that the estimate of the reasonably possible loss is not significant. |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
FAIR VALUE | ' | ||||||||||||||||||||
NOTE 17 - FAIR VALUE OF FINANCIAL INSTRUMENTS | |||||||||||||||||||||
The Company follows the fair value measurement framework under GAAP. | |||||||||||||||||||||
Fair Value Measurement | |||||||||||||||||||||
The fair value measurement framework defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. This framework also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs previously described that may be used to measure fair value. | |||||||||||||||||||||
Money market investments | |||||||||||||||||||||
The fair value of money market investments is based on the carrying amounts reflected in the consolidated statements of financial condition as these are reasonable estimates of fair value given the short-term nature of the instruments. | |||||||||||||||||||||
Investment securities | |||||||||||||||||||||
The fair value of investment securities is based on quoted market prices, when available, or market prices provided by recognized broker-dealers. If listed prices or quotes are not available, fair value is based upon externally developed models that use both observable and unobservable inputs depending on the market activity of the instrument. The Company holds two securities categorized as other debt that are classified as Level 3. The estimated fair value of the other debt securities is determined by using a third-party model to calculate the present value of projected future cash flows. The assumptions are highly uncertain and include primarily market discount rates, current spreads, and an indicative pricing. The assumptions used are drawn from similar securities that are actively traded in the market and have similar characteristics as the collateral underlying the debt securities being evaluated. The valuation is performed on a monthly basis. | |||||||||||||||||||||
Derivative instruments | |||||||||||||||||||||
The fair value of the interest rate swaps is largely a function of the financial market's expectations regarding the future direction of interest rates. Accordingly, current market values are not necessarily indicative of the future impact of derivative instruments on earnings. This will depend, for the most part, on the shape of the yield curve, the level of interest rates, as well as the expectations for rates in the future. The fair value of most of these derivative instruments is based on observable market parameters, which include discounting the instruments' cash flows using the U.S. dollar LIBOR-based discount rates, and also applying yield curves that account for the industry sector and the credit rating of the counterparty and/or the Company. | |||||||||||||||||||||
Certain other derivative instruments with limited market activity are valued using externally developed models that consider unobservable market parameters. Based on their valuation methodology, derivative instruments are classified as Level 2 or Level 3. The Company has offered its customers certificates of deposit with an option tied to the performance of the S&P Index and uses equity indexed option agreements with major broker-dealers to manage its exposure to changes in this index. Their fair value is obtained through the use of an external based valuation that was thoroughly evaluated and adopted by management as its measurement tool for these options. The payoff of these options is linked to the average value of the S&P Index on a specific set of dates during the life of the option. The methodology uses an average rate option or a cash-settled option whose payoff is based on the difference between the expected average value of the S&P Index during the remaining life of the option and the strike price at inception. The assumptions, which are uncertain and require a degree of judgment, include primarily S&P Index volatility, forward interest rate projections, estimated index dividend payout, and leverage. | |||||||||||||||||||||
Servicing assets | |||||||||||||||||||||
Servicing assets do not trade in an active market with readily observable prices. Servicing assets are priced using a discounted cash flow model. The valuation model considers servicing fees, portfolio characteristics, prepayment assumptions, delinquency rates, late charges, other ancillary revenues, cost to service and other economic factors. Due to the unobservable nature of certain valuation inputs, the servicing rights are classified as Level 3. | |||||||||||||||||||||
Loans receivable considered impaired that are collateral dependent | |||||||||||||||||||||
The impairment is measured based on the fair value of the collateral, which is derived from appraisals that take into consideration prices in observed transactions involving similar assets in similar locations, in accordance with the provisions of ASC 310-10-35. Currently, the associated loans considered impaired are classified as Level 3. | |||||||||||||||||||||
Foreclosed real estate | |||||||||||||||||||||
Foreclosed real estate includes real estate properties securing residential mortgage and commercial loans. The fair value of foreclosed real estate may be determined using an external appraisal, broker price option or an internal valuation. These foreclosed assets are classified as Level 3 given certain internal adjustments that may be made to external appraisals. | |||||||||||||||||||||
Assets and liabilities measured at fair value on a recurring and non-recurring basis, including financial liabilities for which the Company has elected the fair value option, are summarized below: | |||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Recurring fair value measurements: | |||||||||||||||||||||
Investment securities available-for-sale | $ | - | $ | 1,435,632 | $ | 20,053 | $ | 1,455,685 | |||||||||||||
Money market investments | 7,652 | - | - | 7,652 | |||||||||||||||||
Derivative assets | - | 3,306 | 12,555 | 15,861 | |||||||||||||||||
Servicing assets | - | - | 13,970 | 13,970 | |||||||||||||||||
Derivative liabilities | - | -13,830 | -12,120 | -25,950 | |||||||||||||||||
$ | 7,652 | $ | 1,425,108 | $ | 34,458 | $ | 1,467,218 | ||||||||||||||
Non-recurring fair value measurements: | |||||||||||||||||||||
Impaired commercial loans | $ | - | $ | - | $ | 27,975 | $ | 27,975 | |||||||||||||
Foreclosed real estate | - | - | 96,884 | 96,884 | |||||||||||||||||
$ | - | $ | - | $ | 124,859 | $ | 124,859 | ||||||||||||||
31-Dec-13 | |||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Recurring fair value measurements: | |||||||||||||||||||||
Investment securities available-for-sale | $ | - | $ | 1,568,745 | $ | 19,680 | $ | 1,588,425 | |||||||||||||
Securities purchased under agreements to resell | - | 60,000 | - | 60,000 | |||||||||||||||||
Money market investments | 6,967 | - | - | 6,967 | |||||||||||||||||
Derivative assets | - | 4,072 | 16,430 | 20,502 | |||||||||||||||||
Servicing assets | - | - | 13,801 | 13,801 | |||||||||||||||||
Derivative liabilities | - | -14,937 | -15,736 | -30,673 | |||||||||||||||||
$ | 6,967 | $ | 1,617,880 | $ | 34,175 | $ | 1,659,022 | ||||||||||||||
Non-recurring fair value measurements: | |||||||||||||||||||||
Impaired commercial loans | $ | - | $ | - | $ | 28,353 | $ | 28,353 | |||||||||||||
Foreclosed real estate | - | - | 90,024 | 90,024 | |||||||||||||||||
$ | - | $ | - | $ | 118,377 | $ | 118,377 | ||||||||||||||
The table below presents a reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the quarters ended March 31, 2014 and 2013: | |||||||||||||||||||||
Quarter Ended March 31, 2014 | |||||||||||||||||||||
Derivative | Derivative | ||||||||||||||||||||
Other | asset | liability | |||||||||||||||||||
debt | (S&P | (S&P | |||||||||||||||||||
securities | Purchased | Servicing | Embedded | ||||||||||||||||||
Level 3 Instruments Only | available-for-sale | Options) | assets | Options) | Total | ||||||||||||||||
(In thousands) | |||||||||||||||||||||
Balance at beginning of year | $ | 19,680 | $ | 16,430 | $ | 13,801 | $ | -15,736 | $ | 34,175 | |||||||||||
Gains (losses) included in earnings | - | -3,875 | - | 3,373 | -502 | ||||||||||||||||
Changes in fair value of investment securities available for sale included in other comprehensive income | 373 | - | - | - | 373 | ||||||||||||||||
New instruments acquired | - | - | 563 | - | 563 | ||||||||||||||||
Principal repayments | - | - | -196 | - | -196 | ||||||||||||||||
Amortization | - | - | - | 243 | 243 | ||||||||||||||||
Changes in fair value of servicing assets | - | - | -198 | - | -198 | ||||||||||||||||
Balance at end of year | $ | 20,053 | $ | 12,555 | $ | 13,970 | $ | -12,120 | $ | 34,458 | |||||||||||
Quarter Ended March 31, 2013 | |||||||||||||||||||||
Investment securities | |||||||||||||||||||||
available-for-sale | |||||||||||||||||||||
Derivative | Derivative | ||||||||||||||||||||
asset | liability | ||||||||||||||||||||
Other | (S&P | (S&P | |||||||||||||||||||
debt | Purchased | Servicing | Embedded | ||||||||||||||||||
Level 3 Instruments Only | CLOs | securities | Options) | assets | Options) | Total | |||||||||||||||
Balance at beginning of period | $ | 27,280 | $ | 10,016 | $ | 11,367 | $ | 10,776 | $ | -10,912 | $ | 48,527 | |||||||||
Gains (losses) included in earnings | - | - | 1,721 | - | -1,707 | 14 | |||||||||||||||
Changes in fair value of investment securities available for sale included in other comprehensive income | 1,705 | 1 | - | - | - | 1,706 | |||||||||||||||
New instruments acquired | - | - | - | 487 | - | 487 | |||||||||||||||
Principal repayments | - | - | - | -307 | - | -307 | |||||||||||||||
Amortization | 17 | - | - | - | 50 | 67 | |||||||||||||||
Changes in fair value of servicing assets | - | - | - | -314 | - | -314 | |||||||||||||||
Balance at end of period | $ | 29,002 | $ | 10,017 | $ | 13,088 | $ | 10,642 | $ | -12,569 | $ | 50,180 | |||||||||
During the quarter ended March 31, 2014 and 2013, there were purchases and sales of assets and liabilities measured at fair value on a recurring basis. There were no transfers into and out of Level 1 and Level 2 fair value measurements during such periods. | |||||||||||||||||||||
The table below presents quantitative information for all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) at March 31, 2014: | |||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||
Fair Value | Valuation Technique | Unobservable Input | Range | ||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Investment securities available-for-sale: | |||||||||||||||||||||
Other debt securities | $ | 20,053 | Market comparable bonds | Indicative pricing | 97.125% - 98.975% | ||||||||||||||||
Option adjusted spread | 683.7% - 1602.0% | ||||||||||||||||||||
Yield to maturity | 7.05% - 15.89% | ||||||||||||||||||||
Spread to maturity | 689.9% - 1579.0% | ||||||||||||||||||||
Derivative assets (S&P Purchased Options) | $ | 12,555 | Option pricing model | Implied option volatility | 22.887% - 53.615% | ||||||||||||||||
Counterparty credit risk (based on 5-year credit default swap ("CDS") spread) | 56.360% - 86.490% | ||||||||||||||||||||
Servicing assets | $ | 13,970 | Cash flow valuation | Constant prepayment rate | 5.60% - 10.08% | ||||||||||||||||
Discount rate | 10.00% - 12.00% | ||||||||||||||||||||
Derivative liability (S&P Embedded Options) | $ | -12,120 | Option pricing model | Implied option volatility | 22.887% - 53.615% | ||||||||||||||||
Counterparty credit risk (based on 5-year CDS spread) | 56.360% - 86.490% | ||||||||||||||||||||
Collateral dependant impaired loans | $ | 27,975 | Fair value of property or collateral | Appraised value less disposition costs | 21.30% - 28.30% | ||||||||||||||||
Information about Sensitivity to Changes in Significant Unobservable Inputs | |||||||||||||||||||||
Other debt securities – The significant unobservable inputs used in the fair value measurement of one of the Company's other debt securities are indicative comparable pricing, option adjusted spread (“OAS”), yield to maturity, and spread to maturity. Significant changes in any of those inputs in isolation would result in a significantly different fair value measurement. Generally, a change in the assumption used for indicative comparable pricing is accompanied by a directionally opposite change in the assumption used for OAS and a directionally, although not equally proportional, opposite change in the assumptions used for yield to maturity and spread to maturity. | |||||||||||||||||||||
Derivative asset (S&P Purchased Options) – The significant unobservable inputs used in the fair value measurement of the Company's derivative assets related to S&P purchased options are implied option volatility and counterparty credit risk. Significant changes in any of those inputs in isolation would result in a significantly different fair value measurement. Generally, a change in the assumption used for implied option volatility is not necessarily accompanied by directionally similar or opposite changes in the assumption used for counterparty credit risk. | |||||||||||||||||||||
Servicing assets – The significant unobservable inputs used in the fair value measurement of the Company's servicing assets are constant prepayment rates and discount rates. Changes in one factor may result in changes in another (for example, increases in market interest rates may result in lower prepayments), which may magnify or offset the sensitivities. Mortgage banking activities, a component of total banking and financial service revenue in the consolidated statements of operations, include the changes from period to period in the fair value of the mortgage loan servicing rights, which may result from changes in the valuation model inputs or assumptions (principally reflecting changes in discount rates and prepayment speed assumptions) and other changes, including changes due to collection/realization of expected cash flows. | |||||||||||||||||||||
Derivative liability (S&P Embedded Options) – The significant unobservable inputs used in the fair value measurement of the Company's derivative liability related to S&P purchased options are implied option volatility and counterparty credit risk. Significant changes in any of those inputs in isolation would result in a significantly different fair value measurement. Generally, a change in the assumption used for implied option volatility is not necessarily accompanied by directionally similar or opposite changes in the assumption used for counterparty credit risk. | |||||||||||||||||||||
The table below presents a detail of investment securities available-for-sale classified as Level 3 at March 31, 2014: | |||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||
Weighted | |||||||||||||||||||||
Amortized | Unrealized | Average | Principal | ||||||||||||||||||
Type | Cost | Gains (Losses) | Fair Value | Yield | Protection | ||||||||||||||||
(In thousands) | |||||||||||||||||||||
Other debt securities | $ | 20,000 | $ | 53 | $ | 20,053 | 3.50% | N/A | |||||||||||||
Fair Value of Financial Instruments | |||||||||||||||||||||
The information about the estimated fair value of financial instruments required by GAAP is presented hereunder. The aggregate fair value amounts presented do not necessarily represent management's estimate of the underlying value of the Company. | |||||||||||||||||||||
The estimated fair value is subjective in nature, involves uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could affect these fair value estimates. The fair value estimates do not take into consideration the value of future business and the value of assets and liabilities that are not financial instruments. Other significant tangible and intangible assets that are not considered financial instruments are the value of long-term customer relationships of retail deposits, and premises and equipment. | |||||||||||||||||||||
The estimated fair value and carrying value of the Company's financial instruments at March 31, 2014 and December 31, 2013 is as follows: | |||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Fair | Carrying | Fair | Carrying | ||||||||||||||||||
Value | Value | Value | Value | ||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Level 1 | |||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 624,636 | $ | 624,636 | $ | 621,269 | $ | 621,269 | |||||||||||||
Restricted cash | 15,170 | 15,170 | 82,199 | 82,199 | |||||||||||||||||
Level 2 | |||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Securities purchased under agreements to resell | - | - | 60,000 | 60,000 | |||||||||||||||||
Trading securities | 1,910 | 1,910 | 1,869 | 1,869 | |||||||||||||||||
Investment securities available-for-sale | 1,435,632 | 1,435,632 | 1,568,745 | 1,568,745 | |||||||||||||||||
Federal Home Loan Bank (FHLB) stock | 24,430 | 24,430 | 24,450 | 24,450 | |||||||||||||||||
Derivative assets | 3,306 | 3,306 | 4,072 | 4,072 | |||||||||||||||||
Derivative liabilities | 13,830 | 13,830 | 14,937 | 14,937 | |||||||||||||||||
Level 3 | |||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Investment securities available-for-sale | 20,053 | 20,053 | 19,680 | 19,680 | |||||||||||||||||
Total loans (including loans held-for-sale) | |||||||||||||||||||||
Non-covered loans, net | 4,737,604 | 4,654,749 | 4,857,505 | 4,662,458 | |||||||||||||||||
Covered loans, net | 400,355 | 347,865 | 459,444 | 356,961 | |||||||||||||||||
Derivative assets | 12,555 | 12,555 | 16,430 | 16,430 | |||||||||||||||||
FDIC shared-loss indemnification asset | 106,170 | 166,194 | 152,965 | 189,240 | |||||||||||||||||
Accrued interest receivable | 18,969 | 18,969 | 18,734 | 18,734 | |||||||||||||||||
Servicing assets | 13,970 | 13,970 | 13,801 | 13,801 | |||||||||||||||||
Financial Liabilities: | |||||||||||||||||||||
Deposits | 5,247,226 | 5,300,992 | 5,409,540 | 5,383,265 | |||||||||||||||||
Securities sold under agreements to repurchase | 1,076,000 | 1,012,240 | 1,323,903 | 1,267,618 | |||||||||||||||||
Advances from FHLB | 340,805 | 335,689 | 335,324 | 336,143 | |||||||||||||||||
Federal funds purchased | 23,712 | 23,712 | - | - | |||||||||||||||||
Term notes | 3,583 | 3,708 | 3,638 | 3,663 | |||||||||||||||||
Subordinated capital notes | 87,240 | 100,404 | 99,316 | 100,010 | |||||||||||||||||
Accrued expenses and other liabilities | 140,037 | 140,037 | 144,424 | 144,424 | |||||||||||||||||
The following methods and assumptions were used to estimate the fair values of significant financial instruments at March 31, 2014 and December 31, 2013: | |||||||||||||||||||||
• Cash and cash equivalents (including money market investments and time deposits with other banks), restricted cash, accrued interest receivable, securities purchased under agreements to resell, securities sold but not yet delivered, accrued expenses and other liabilities have been valued at the carrying amounts reflected in the consolidated statements of financial condition as these are reasonable estimates of fair value given the short-term nature of the instruments. | |||||||||||||||||||||
• Investments in FHLB-NY stock are valued at their redemption value. | |||||||||||||||||||||
• The fair value of investment securities, including trading securities, is based on quoted market prices, when available, or market prices provided by recognized broker-dealers. If listed prices or quotes are not available, fair value is based upon externally developed models that use both observable and unobservable inputs depending on the market activity of the instrument. The estimated fair value of the structured credit investments is determined by using a third-party cash flow valuation model to calculate the present value of projected future cash flows. The assumptions used which are highly uncertain and require a high degree of judgment, include primarily market discount rates, current spreads, duration, leverage, default, home price depreciation, and loss rates. The assumptions used are drawn from a wide array of data sources, including the performance of the collateral underlying each deal. The external-based valuation, which is obtained at least on a quarterly basis, is analyzed and its assumptions are evaluated and incorporated in either an internal-based valuation model when deemed necessary, or compared to counterparties' prices and agreed by management. | |||||||||||||||||||||
• The fair value of the FDIC shared-loss indemnification asset represents the present value of the net estimated cash payments expected to be received from the FDIC for future losses on covered assets based on the credit assumptions on estimated cash flows for each covered asset pool and the loss sharing percentages. The ultimate collectability of the FDIC shared-loss indemnification asset is dependent upon the performance of the underlying covered loans, the passage of time and claims paid by the FDIC which are impacted by the Bank's adherence to certain guidelines established by the FDIC. | |||||||||||||||||||||
• The fair value of servicing assets is estimated by using a cash flow valuation model which calculates the present value of estimated future net servicing cash flows, taking into consideration actual and expected loan prepayment rates, discount rates, servicing costs, and other economic factors, which are determined based on current market conditions. | |||||||||||||||||||||
• The fair values of the derivative instruments are provided by valuation experts and counterparties. Certain derivatives with limited market activity are valued using externally developed models that consider unobservable market parameters. The Company has offered its customers certificates of deposit with an option tied to the performance of the S&P Index, and uses equity indexed option agreements with major broker-dealers to manage its exposure to changes in this index. Their fair value is obtained through the use of an external based valuation that was thoroughly evaluated and adopted by management as its measurement tool for these options. The payoff of these options is linked to the average value of the S&P Index on a specific set of dates during the life of the option. The methodology uses an average rate option or a cash-settled option whose payoff is based on the difference between the expected average value of the S&P Index during the remaining life of the option and the strike price at inception. The assumptions, which are uncertain and require a degree of judgment, include primarily S&P Index volatility, forward interest rate projections, estimated index dividend payout, and leverage. | |||||||||||||||||||||
• Fair value of derivative liabilities, which include interest rate swaps and forward-settlement swaps, are based on the net discounted value of the contractual projected cash flows of both the pay-fixed receive-variable legs of the contracts. The projected cash flows are based on the forward yield curve, and discounted using current estimated market rates. | |||||||||||||||||||||
• The fair value of the covered and non-covered loan portfolio (including loans held-for-sale) is estimated by segregating by type, such as mortgage, commercial, consumer, auto and leasing. Each loan segment is further segmented into fixed and adjustable interest rates and by performing and non-performing categories. The fair value of performing loans is calculated by discounting contractual cash flows, adjusted for prepayment estimates (voluntary and involuntary), if any, using estimated current market discount rates that reflect the credit and interest rate risk inherent in the loan. This fair value is not currently an indication of an exit price as that type of assumption could result in a different fair value estimate. | |||||||||||||||||||||
• The fair value of demand deposits and savings accounts is the amount payable on demand at the reporting date. The fair value of fixed-maturity certificates of deposit is based on the discounted value of the contractual cash flows, using estimated current market discount rates for deposits of similar remaining maturities. | |||||||||||||||||||||
• For short term borrowings and federal funds purchased, the carrying amount is considered a reasonable estimate of fair value. The fair value of long-term borrowings, which include securities sold under agreements to repurchase, advances from FHLB-NY, FDIC-guaranteed term notes, other term notes, and subordinated capital notes, is based on the discounted value of the contractual cash flows using current estimated market discount rates for borrowings with similar terms, remaining maturities and put dates. | |||||||||||||||||||||
• The fair value of commitments to extend credit and unused lines of credit is based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties' credit standings. |
Business_Segments
Business Segments | 3 Months Ended | |||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||
SEGMENT REPORTING | ' | |||||||||||||||||
NOTE 18 – BUSINESS SEGMENTS | ||||||||||||||||||
The Company segregates its businesses into the following major reportable segments of business: Banking, Wealth Management, and Treasury. Management established the reportable segments based on the internal reporting used to evaluate performance and to assess where to allocate resources. Other factors such as the Company's organization, nature of its products, distribution channels and economic characteristics of the products were also considered in the determination of the reportable segments. The Company measures the performance of these reportable segments based on pre-established goals of different financial parameters such as net income, net interest income, loan production, and fees generated. The Company's methodology for allocating non-interest expenses among segments is based on several factors such as revenue, employee headcount, occupied space, dedicated services or time, among others. These factors are reviewed on a periodical basis and may change if the conditions warrant. | ||||||||||||||||||
Banking includes the Bank's branches and traditional banking products such as deposits and commercial, consumer and mortgage loans. Mortgage banking activities are carried out by the Bank's mortgage banking division, whose principal activity is to originate mortgage loans for the Company's own portfolio. As part of its mortgage banking activities, the Company may sell loans directly into the secondary market or securitize conforming loans into mortgage-backed securities. | ||||||||||||||||||
Wealth Management is comprised of the Bank's trust division, Oriental Financial Services, Oriental Insurance, and CPC. The core operations of this segment are financial planning, money management and investment banking, brokerage services, insurance sales activity, corporate and individual trust and retirement services, as well as pension plan administration services. | ||||||||||||||||||
The Treasury segment encompasses all of the Company's asset/liability management activities, such as purchases and sales of investment securities, interest rate risk management, derivatives, and borrowings. Intersegment sales and transfers, if any, are accounted for as if the sales or transfers were to third parties, that is, at current market prices. | ||||||||||||||||||
Following are the results of operations and the selected financial information by operating segment as of and for the quarters ended March 31, 2014 and 2013: | ||||||||||||||||||
Quarter Ended March 31, 2014 | ||||||||||||||||||
Wealth | Total Major | Consolidated | ||||||||||||||||
Banking | Management | Treasury | Segments | Eliminations | Total | |||||||||||||
(In thousands) | ||||||||||||||||||
Interest income | $ | 108,631 | $ | 40 | $ | 14,403 | $ | 123,074 | $ | - | $ | 123,074 | ||||||
Interest expense | -7,516 | - | -12,160 | -19,676 | - | -19,676 | ||||||||||||
Net interest income | 101,115 | 40 | 2,243 | 103,398 | - | 103,398 | ||||||||||||
Provision for non-covered loan and lease losses | -10,062 | - | - | -10,062 | - | -10,062 | ||||||||||||
Provision for covered loan and lease losses | -1,629 | - | - | -1,629 | - | -1,629 | ||||||||||||
Non-interest income (loss) | -5,047 | 6,522 | 3,803 | 5,278 | - | 5,278 | ||||||||||||
Non-interest expenses | -53,596 | -4,779 | -3,078 | -61,453 | - | -61,453 | ||||||||||||
Intersegment revenue | 544 | - | - | 544 | -544 | - | ||||||||||||
Intersegment expenses | - | -432 | -112 | -544 | 544 | - | ||||||||||||
Income before income taxes | $ | 31,325 | $ | 1,351 | $ | 2,856 | $ | 35,532 | $ | - | $ | 35,532 | ||||||
Total assets | $ | 7,351,839 | $ | 24,345 | $ | 1,643,569 | $ | 9,019,753 | $ | -1,164,115 | $ | 7,855,638 | ||||||
Quarter Ended March 31, 2013 | ||||||||||||||||||
Wealth | Total Major | Consolidated | ||||||||||||||||
Banking | Management | Treasury | Segments | Eliminations | Total | |||||||||||||
(In thousands) | ||||||||||||||||||
Interest income | $ | 102,068 | $ | 86 | $ | 12,018 | $ | 114,172 | $ | - | $ | 114,172 | ||||||
Interest expense | -6,971 | -60 | -13,525 | -20,556 | - | -20,556 | ||||||||||||
Net interest income | 95,097 | 26 | -1,507 | 93,616 | - | 93,616 | ||||||||||||
Provision for non-covered loan and lease losses | -7,916 | - | - | -7,916 | - | -7,916 | ||||||||||||
Provision for covered loan and lease losses, net | -672 | - | - | -672 | - | -672 | ||||||||||||
Non-interest income(loss) | 2,537 | 7,700 | -138 | 10,099 | - | 10,099 | ||||||||||||
Non-interest expenses | -61,932 | -4,462 | -415 | -66,809 | - | -66,809 | ||||||||||||
Intersegment revenue | 383 | - | - | 383 | -383 | - | ||||||||||||
Intersegment expenses | - | -302 | -81 | -383 | 383 | - | ||||||||||||
Income before income taxes | $ | 27,497 | $ | 2,962 | $ | -2,141 | $ | 28,318 | $ | - | $ | 28,318 | ||||||
Total assets | $ | 6,989,744 | $ | 39,511 | $ | 2,539,649 | $ | 9,568,904 | $ | -866,353 | $ | 8,702,551 |
Basis_of_Presentation_Policies
Basis of Presentation (Policies) | 3 Months Ended |
Mar. 31, 2014 | |
Accounting Policies [Abstract] | ' |
New Accounting Pronouncements Policy [Policy Text Block] | ' |
Recent Accounting Developments | |
Reclassification of Defaulted Consumer Mortgage Loans upon Foreclosure - In January 2014, the Financial Accounting Standards Board (“FASB”) issued ASU 2014-04, Receivables—Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. This ASU clarifies when an in-substance repossession or foreclosure occurs that would require a transfer of the mortgage loan to other real estate owned (OREO). Under the ASU, repossession or foreclosure is deemed to have occurred when (1) the creditor obtains legal title to the residential real estate property or (2) the borrower conveys all interest in the residential real estate property to the creditor to satisfy the mortgage loan through completion of a deed in lieu of foreclosure or a similar legal agreement. The ASU will become effective for annual and interim periods beginning after December 15, 2014. The ASU can be adopted using either a modified retrospective method or a prospective transition method with the cumulative effect being recognized in the beginning retained earnings of the earliest annual period for which the ASU is adopted. The adoption of this guidance will not have a material effect on our consolidated financial statements, since the Company already follows the same basis approach. | |
Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carry-forward, a Similar Tax Loss, or a Tax Credit Carry-forward Exists In July 2013, FASB issued ASU No. 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carry-forward, a Similar Tax Loss, or a Tax Credit Carry-forward Exists (a consensus of the FASB Emerging Issues Task, which requires that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. When a net operating loss, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional taxes that would result from the disallowance of a tax position, or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purposes, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The assessment of whether a deferred tax asset is available is based on the unrecognized tax benefit and deferred tax asset that exist at the reporting date and should be made presuming disallowance of the tax position at the reporting date. Currently, there is no explicit guidance under U.S. GAAP on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The amendment of this guidance does not require new recurring disclosures. ASU 2013-11 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. Early adoption is permitted. The amendments of this ASU should be applied prospectively to all unrecognized tax benefits that exist at the effective date. Retrospective application is permitted. The adoption of this guidance did not have a material effect on our consolidated financial statements, since the Company already followed the same basis approach. |
Restricted_Cash_Tables
Restricted Cash (Tables) | 3 Months Ended | |||||
Mar. 31, 2014 | ||||||
Restricted Cash And Investments Abstract | ' | |||||
Restricted Cash Components and Its Secured Investments | ' | |||||
The following table includes the composition of the restricted cash | ||||||
March 31, | December 31, | |||||
2014 | 2013 | |||||
(In thousands) | ||||||
Deposits pledged as collateral to other financial institutions to secure: | ||||||
Securities sold under agreements to repurchase | $ | - | $ | 67,029 | ||
Derivatives | 2,980 | 2,980 | ||||
Obligations under agreement of loans sold with recourse | 12,190 | 12,190 | ||||
$ | 15,170 | $ | 82,199 |
Securities_Purchased_Under_Agr1
Securities Purchased Under Agreements and Investments (Tables) | 3 Months Ended | |||||||||||||
Mar. 31, 2014 | ||||||||||||||
Investments [Abstract] | ' | |||||||||||||
Available for sale securities | ' | |||||||||||||
31-Mar-14 | ||||||||||||||
Gross | Gross | Weighted | ||||||||||||
Amortized | Unrealized | Unrealized | Fair | Average | ||||||||||
Cost | Gains | Losses | Value | Yield | ||||||||||
(In thousands) | ||||||||||||||
Available-for-sale | ||||||||||||||
Mortgage-backed securities | ||||||||||||||
FNMA and FHLMC certificates | $ | 1,093,717 | $ | 31,769 | $ | 4,690 | $ | 1,120,796 | 3.03% | |||||
GNMA certificates | 6,146 | 426 | 23 | 6,549 | 4.93% | |||||||||
CMOs issued by US Government-sponsored agencies | 211,308 | 351 | 4,139 | 207,520 | 1.78% | |||||||||
Total mortgage-backed securities | 1,311,171 | 32,546 | 8,852 | 1,334,865 | 2.84% | |||||||||
Investment securities | ||||||||||||||
US Treasury securities | 70,000 | - | - | 70,000 | 0.03% | |||||||||
Obligations of US Government-sponsored agencies | 9,539 | - | 42 | 9,497 | 1.23% | |||||||||
Obligations of Puerto Rico Government and political subdivisions | 22,367 | - | 5,298 | 17,069 | 5.32% | |||||||||
Other debt securities | 24,029 | 225 | - | 24,254 | 3.46% | |||||||||
Total investment securities | 125,935 | 225 | 5,340 | 120,820 | 1.72% | |||||||||
Total securities available for sale | $ | 1,437,106 | $ | 32,771 | $ | 14,192 | $ | 1,455,685 | 2.74% | |||||
31-Dec-13 | ||||||||||||||
Gross | Gross | Weighted | ||||||||||||
Amortized | Unrealized | Unrealized | Fair | Average | ||||||||||
Cost | Gains | Losses | Value | Yield | ||||||||||
(In thousands) | ||||||||||||||
Available-for-sale | ||||||||||||||
Mortgage-backed securities | ||||||||||||||
FNMA and FHLMC certificates | $ | 1,190,910 | $ | 33,089 | $ | 6,669 | $ | 1,217,330 | 2.93% | |||||
GNMA certificates | 7,406 | 433 | 24 | 7,815 | 4.92% | |||||||||
CMOs issued by US Government-sponsored agencies | 220,801 | 407 | 6,814 | 214,394 | 1.78% | |||||||||
Total mortgage-backed securities | 1,419,117 | 33,929 | 13,507 | 1,439,539 | 2.76% | |||||||||
Investment securities | ||||||||||||||
Obligations of US Government-sponsored agencies | 10,691 | - | 42 | 10,649 | 1.21% | |||||||||
Obligations of Puerto Rico Government and political subdivisions | 121,035 | - | 6,845 | 114,190 | 4.38% | |||||||||
Other debt securities | 24,200 | 167 | 320 | 24,047 | 3.46% | |||||||||
Total investment securities | 155,926 | 167 | 7,207 | 148,886 | 2.99% | |||||||||
Total securities available-for-sale | $ | 1,575,043 | $ | 34,096 | $ | 20,714 | $ | 1,588,425 | 2.89% | |||||
31-Mar-14 | ||||||||||||||
Available-for-sale | ||||||||||||||
Amortized Cost | Fair Value | |||||||||||||
(In thousands) | ||||||||||||||
Mortgage-backed securities | ||||||||||||||
Due after 5 to 10 years | ||||||||||||||
FNMA and FHLMC certificates | $ | 26,294 | $ | 26,625 | ||||||||||
Total due after 5 to 10 years | 26,294 | 26,625 | ||||||||||||
Due after 10 years | ||||||||||||||
FNMA and FHLMC certificates | 1,067,423 | 1,094,171 | ||||||||||||
GNMA certificates | 6,146 | 6,549 | ||||||||||||
CMOs issued by US Government-sponsored agencies | 211,308 | 207,520 | ||||||||||||
Total due after 10 years | 1,284,877 | 1,308,240 | ||||||||||||
Total mortgage-backed securities | 1,311,171 | 1,334,865 | ||||||||||||
Investment securities | ||||||||||||||
Due in less than one year | ||||||||||||||
US Treasury securities | 70,000 | 70,000 | ||||||||||||
Other debt securities | 20,000 | 20,053 | ||||||||||||
Total due in less than one year | 90,000 | 90,053 | ||||||||||||
Due from 1 to 5 years | ||||||||||||||
Obligations of Puerto Rico Government and political subdivisions | 11,903 | 9,827 | ||||||||||||
Total due from 1 to 5 years | 11,903 | 9,827 | ||||||||||||
Due after 5 to 10 years | ||||||||||||||
Obligations of US Government and sponsored agencies | 9,539 | 9,497 | ||||||||||||
Total due after 5 to 10 years | 9,539 | 9,497 | ||||||||||||
Due after 10 years | ||||||||||||||
Obligations of Puerto Rico Government and political subdivisions | 10,464 | 7,242 | ||||||||||||
Other debt securities | 4,029 | 4,201 | ||||||||||||
Total due after 10 years | 14,493 | 11,443 | ||||||||||||
Total investment securities | 125,935 | 120,820 | ||||||||||||
Total securities available-for-sale | $ | 1,437,106 | $ | 1,455,685 | ||||||||||
Gross Realized Gains and Losses by Category | ' | |||||||||||||
For the quarter ended March 31, 2014 the Company recorded a net gain on sale of securities of $4.4 million. The tables below present the gross realized gains by category for such period. There was no realized gain or loss for the quarter ended March 31, 2013. | ||||||||||||||
Quarter Ended March 31, 2014 | ||||||||||||||
Book Value | Gross | Gross | ||||||||||||
Description | Sale Price | at Sale | Gains | Losses | ||||||||||
(In thousands) | ||||||||||||||
Sale of securities available-for-sale | ||||||||||||||
Mortgage-backed securities | ||||||||||||||
FNMA and FHLMC certificates | $ | 115,159 | $ | 110,792 | $ | 4,366 | $ | - | ||||||
GNMA certificates | 23,993 | 23,993 | - | - | ||||||||||
Total | $ | 139,152 | $ | 134,785 | $ | 4,366 | $ | - | ||||||
Available For Sale Securities Continuous Unrealized Loss Position Fair Value | ' | |||||||||||||
The following tables show the Company's gross unrealized losses and fair value of investment securities available-for-sale, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at March 31, 2014 and December 31, 2013 | ||||||||||||||
31-Mar-14 | ||||||||||||||
12 months or more | ||||||||||||||
Amortized | Unrealized | Fair | ||||||||||||
Cost | Loss | Value | ||||||||||||
(In thousands) | ||||||||||||||
Securities available-for-sale | ||||||||||||||
CMOs issued by US Government-sponsored agencies | $ | 1,897 | $ | 163 | $ | 1,734 | ||||||||
Obligations of Puerto Rico Government and political subdivisions | 22,367 | 5,298 | 17,069 | |||||||||||
GNMA certificates | 80 | 10 | 70 | |||||||||||
$ | 24,344 | $ | 5,471 | $ | 18,873 | |||||||||
Less than 12 months | ||||||||||||||
Amortized | Unrealized | Fair | ||||||||||||
Cost | Loss | Value | ||||||||||||
(In thousands) | ||||||||||||||
Securities available-for-sale | ||||||||||||||
CMOs issued by US Government-sponsored agencies | $ | 177,882 | $ | 3,976 | $ | 173,906 | ||||||||
FNMA and FHLMC certificates | 214,926 | 4,690 | 210,236 | |||||||||||
Obligations of US government and sponsored agencies | 9,539 | 42 | 9,497 | |||||||||||
GNMA certificates | 121 | 13 | 108 | |||||||||||
$ | 402,468 | $ | 8,721 | $ | 393,747 | |||||||||
Total | ||||||||||||||
Amortized | Unrealized | Fair | ||||||||||||
Cost | Loss | Value | ||||||||||||
(In thousands) | ||||||||||||||
Securities available-for-sale | ||||||||||||||
CMOs issued by US Government-sponsored agencies | $ | 179,779 | $ | 4,139 | $ | 175,640 | ||||||||
FNMA and FHLMC certificates | 214,926 | 4,690 | 210,236 | |||||||||||
Obligations of Puerto Rico Government and political subdivisions | 22,367 | 5,298 | 17,069 | |||||||||||
Obligations of US government and sponsored agencies | 9,539 | 42 | 9,497 | |||||||||||
GNMA certificates | 201 | 23 | 178 | |||||||||||
$ | 426,812 | $ | 14,192 | $ | 412,620 | |||||||||
31-Dec-13 | ||||||||||||||
12 months or more | ||||||||||||||
Amortized | Unrealized | Fair | ||||||||||||
Cost | Loss | Value | ||||||||||||
(In thousands) | ||||||||||||||
Securities available-for-sale | ||||||||||||||
Obligations of Puerto Rico Government and political subdivisions | $ | 20,845 | $ | 5,470 | $ | 15,375 | ||||||||
CMOs issued by US Government-sponsored agencies | 2,559 | 237 | 2,322 | |||||||||||
GNMA certificates | 81 | 11 | 70 | |||||||||||
$ | 23,485 | $ | 5,718 | $ | 17,767 | |||||||||
Less than 12 months | ||||||||||||||
Amortized | Unrealized | Fair | ||||||||||||
Cost | Loss | Value | ||||||||||||
(In thousands) | ||||||||||||||
Securities available-for-sale | ||||||||||||||
Obligations of Puerto Rico Government and political subdivisions | $ | 100,190 | $ | 1,375 | $ | 98,815 | ||||||||
CMOs issued by US Government-sponsored agencies | 182,661 | 6,577 | 176,084 | |||||||||||
GNMA certificates | 122 | 13 | 109 | |||||||||||
FNMA and FHLMC certificates | 220,913 | 6,669 | 214,244 | |||||||||||
Obligations of US Government and sponsored agencies | 10,691 | 42 | 10,649 | |||||||||||
Other debt securities | 20,000 | 320 | 19,680 | |||||||||||
$ | 534,577 | $ | 14,996 | $ | 519,581 | |||||||||
Total | ||||||||||||||
Amortized | Unrealized | Fair | ||||||||||||
Cost | Loss | Value | ||||||||||||
(In thousands) | ||||||||||||||
Securities available-for-sale | ||||||||||||||
Obligations of Puerto Rico Government and political subdivisions | $ | 121,035 | $ | 6,845 | $ | 114,190 | ||||||||
CMOs issued by US Government-sponsored agencies | 185,220 | 6,814 | 178,406 | |||||||||||
GNMA certificates | 203 | 24 | 179 | |||||||||||
FNMA and FHLMC certificates | 220,913 | 6,669 | 214,244 | |||||||||||
Obligations of US Government and sponsored agencies | 10,691 | 42 | 10,649 | |||||||||||
Other debt securities | 20,000 | 320 | 19,680 | |||||||||||
$ | 558,062 | $ | 20,714 | $ | 537,348 |
Loans_Tables
Loans (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ' | ||||||||||||||||||||
Schedule Of Accounts Notes Loans And Financing Receivable Text Block | ' | ||||||||||||||||||||
The composition of the Company's loan portfolio at March 31, 2014 and December 31, 2013 was as follows | |||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Loans not covered under shared-loss agreements with FDIC: | |||||||||||||||||||||
Originated and other loans and leases held for investment: | |||||||||||||||||||||
Mortgage | $ | 782,150 | $ | 766,265 | |||||||||||||||||
Commercial | 1,170,145 | 1,127,657 | |||||||||||||||||||
Consumer | 142,492 | 127,744 | |||||||||||||||||||
Auto and leasing | 447,940 | 379,874 | |||||||||||||||||||
2,542,727 | 2,401,540 | ||||||||||||||||||||
Acquired loans: | |||||||||||||||||||||
Accounted for under ASC 310-20 (Loans with revolving feature and/or | |||||||||||||||||||||
acquired at a premium) | |||||||||||||||||||||
Commercial | 71,577 | 77,681 | |||||||||||||||||||
Consumer | 52,049 | 56,174 | |||||||||||||||||||
Auto | 268,865 | 301,584 | |||||||||||||||||||
392,491 | 435,439 | ||||||||||||||||||||
Accounted for under ASC 310-30 (Loans acquired with deteriorated | |||||||||||||||||||||
credit quality, including those by analogy) | |||||||||||||||||||||
Mortgage | 703,454 | 717,904 | |||||||||||||||||||
Commercial | 532,695 | 545,117 | |||||||||||||||||||
Construction | 122,693 | 126,427 | |||||||||||||||||||
Consumer | 53,310 | 63,620 | |||||||||||||||||||
Auto | 341,889 | 379,145 | |||||||||||||||||||
1,754,041 | 1,832,213 | ||||||||||||||||||||
4,689,259 | 4,669,192 | ||||||||||||||||||||
Deferred loan cost , net | 2,318 | 1,035 | |||||||||||||||||||
Loans receivable | 4,691,577 | 4,670,227 | |||||||||||||||||||
Allowance for loan and lease losses on non-covered loans | -56,183 | -54,298 | |||||||||||||||||||
Loans receivable, net | 4,635,394 | 4,615,929 | |||||||||||||||||||
Mortgage loans held-for-sale | 19,355 | 46,529 | |||||||||||||||||||
Total loans not covered under shared-loss agreements with FDIC, net | 4,654,749 | 4,662,458 | |||||||||||||||||||
Loans covered under shared-loss agreements with FDIC: | |||||||||||||||||||||
Loans secured by 1-4 family residential properties | 124,239 | 121,748 | |||||||||||||||||||
Construction and development secured by 1-4 family residential properties | 18,254 | 17,304 | |||||||||||||||||||
Commercial and other construction | 253,804 | 264,249 | |||||||||||||||||||
Consumer | 5,769 | 6,119 | |||||||||||||||||||
Leasing | 197 | 270 | |||||||||||||||||||
Total loans covered under shared-loss agreements with FDIC | 402,263 | 409,690 | |||||||||||||||||||
Allowance for loan and lease losses on covered loans | -54,398 | -52,729 | |||||||||||||||||||
Total loans covered under shared-loss agreements with FDIC, net | 347,865 | 356,961 | |||||||||||||||||||
Total loans, net | $ | 5,002,614 | $ | 5,019,419 | |||||||||||||||||
Past Due Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||
The following tables present the aging of the recorded investment in gross originated and other loans held for investment as of March 31, 2014 and December 31, 2013 by class of loans. Mortgage loans past due included delinquent loans in the GNMA buy-back option program. Servicers of loans underlying GNMA mortgage-backed securities must report as their own assets the defaulted loans that they have the option (but not the obligation) to repurchase, even when they elect not to exercise that option | |||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||
Loans 90+ | |||||||||||||||||||||
Days Past | |||||||||||||||||||||
Due and | |||||||||||||||||||||
30-59 Days | 60-89 Days | 90+ Days | Total Past | Still | |||||||||||||||||
Past Due | Past Due | Past Due | Due | Current | Total Loans | Accruing | |||||||||||||||
(In thousands) | |||||||||||||||||||||
Mortgage | |||||||||||||||||||||
Traditional (by origination year): | |||||||||||||||||||||
Up to the year 2002 | $ | 5,330 | $ | 2,620 | $ | 2,877 | $ | 10,827 | $ | 61,269 | $ | 72,096 | $ | 91 | |||||||
Years 2003 and 2004 | 5,494 | 2,445 | 2,342 | 10,281 | 53,234 | 63,515 | - | ||||||||||||||
Year 2005 | 6,620 | 2,288 | 6,289 | 15,197 | 72,621 | 87,818 | - | ||||||||||||||
Year 2006 | 10,151 | 4,376 | 4,474 | 19,001 | 97,903 | 116,904 | - | ||||||||||||||
Years 2007, 2008 and 2009 | 3,807 | 2,025 | 4,850 | 10,682 | 87,158 | 97,840 | - | ||||||||||||||
Years 2010, 2011, 2012, 2013 and 2014 | 3,890 | 1,122 | 4,939 | 9,951 | 172,216 | 182,167 | 167 | ||||||||||||||
35,292 | 14,876 | 25,771 | 75,939 | 544,401 | 620,340 | 258 | |||||||||||||||
Non-traditional | 1,744 | 470 | 2,425 | 4,639 | 35,151 | 39,790 | - | ||||||||||||||
Loss mitigation program | 8,149 | 6,485 | 12,559 | 27,193 | 58,812 | 86,005 | 2,254 | ||||||||||||||
45,185 | 21,831 | 40,755 | 107,771 | 638,364 | 746,135 | 2,512 | |||||||||||||||
Home equity secured personal loans | - | - | 138 | 138 | 595 | 733 | - | ||||||||||||||
GNMA's buy-back option program | - | - | 35,282 | 35,282 | - | 35,282 | - | ||||||||||||||
45,185 | 21,831 | 76,175 | 143,191 | 638,959 | 782,150 | 2,512 | |||||||||||||||
Commercial | |||||||||||||||||||||
Commercial secured by real estate: | |||||||||||||||||||||
Corporate | - | - | - | - | 62,935 | 62,935 | - | ||||||||||||||
Institutional | - | - | - | - | 9,833 | 9,833 | - | ||||||||||||||
Middle market | - | - | 1,531 | 1,531 | 168,222 | 169,753 | - | ||||||||||||||
Retail | 1,241 | 277 | 4,780 | 6,298 | 150,396 | 156,694 | - | ||||||||||||||
Floor plan | - | - | - | - | 1,699 | 1,699 | - | ||||||||||||||
Real estate | - | - | - | - | 11,837 | 11,837 | - | ||||||||||||||
1,241 | 277 | 6,311 | 7,829 | 404,922 | 412,751 | - | |||||||||||||||
Other commercial and industrial: | |||||||||||||||||||||
Corporate | - | - | - | - | 28,475 | 28,475 | - | ||||||||||||||
Institutional | - | - | - | - | 553,249 | 553,249 | - | ||||||||||||||
Middle market | - | - | 513 | 513 | 82,420 | 82,933 | - | ||||||||||||||
Retail | 609 | 292 | 1,622 | 2,523 | 64,532 | 67,055 | - | ||||||||||||||
Floor plan | - | - | - | - | 25,682 | 25,682 | - | ||||||||||||||
609 | 292 | 2,135 | 3,036 | 754,358 | 757,394 | - | |||||||||||||||
1,850 | 569 | 8,446 | 10,865 | 1,159,280 | 1,170,145 | - | |||||||||||||||
31-Mar-14 | |||||||||||||||||||||
Loans 90+ | |||||||||||||||||||||
Days Past | |||||||||||||||||||||
Due and | |||||||||||||||||||||
30-59 Days | 60-89 Days | 90+ Days | Total Past | Still | |||||||||||||||||
Past Due | Past Due | Past Due | Due | Current | Total Loans | Accruing | |||||||||||||||
(In thousands) | |||||||||||||||||||||
Consumer | |||||||||||||||||||||
Credit cards | 263 | 171 | 354 | 788 | 14,702 | 15,490 | - | ||||||||||||||
Overdrafts | 28 | 11 | 4 | 43 | 288 | 331 | - | ||||||||||||||
Personal lines of credit | 60 | 99 | 57 | 216 | 1,718 | 1,934 | - | ||||||||||||||
Personal loans | 1,418 | 524 | 248 | 2,190 | 105,847 | 108,037 | - | ||||||||||||||
Cash collateral personal loans | 375 | 46 | 16 | 437 | 16,263 | 16,700 | - | ||||||||||||||
2,144 | 851 | 679 | 3,674 | 138,818 | 142,492 | - | |||||||||||||||
Auto and leasing | 33,788 | 8,559 | 5,872 | 48,219 | 399,721 | 447,940 | - | ||||||||||||||
Total | $ | 82,967 | $ | 31,810 | $ | 91,172 | $ | 205,949 | $ | 2,336,778 | $ | 2,542,727 | $ | 2,512 | |||||||
31-Dec-13 | |||||||||||||||||||||
Loans 90+ | |||||||||||||||||||||
Days Past | |||||||||||||||||||||
Due and | |||||||||||||||||||||
30-59 Days | 60-89 Days | 90+ Days | Total Past | Still | |||||||||||||||||
Past Due | Past Due | Past Due | Due | Current | Total Loans | Accruing | |||||||||||||||
(In thousands) | |||||||||||||||||||||
Mortgage | |||||||||||||||||||||
Traditional (by origination year): | |||||||||||||||||||||
Up to the year 2002 | $ | 6,697 | $ | 1,635 | $ | 3,408 | $ | 11,740 | $ | 64,772 | $ | 76,512 | $ | 79 | |||||||
Years 2003 and 2004 | 4,722 | 2,163 | 1,845 | 8,730 | 56,387 | 65,117 | - | ||||||||||||||
Year 2005 | 8,527 | 2,119 | 4,808 | 15,454 | 74,087 | 89,541 | - | ||||||||||||||
Year 2006 | 12,055 | 4,312 | 4,418 | 20,785 | 99,537 | 120,322 | - | ||||||||||||||
Years 2007, 2008 and 2009 | 3,464 | 1,104 | 4,663 | 9,231 | 91,919 | 101,150 | 152 | ||||||||||||||
Years 2010, 2011, 2012 and 2013 | 3,923 | 1,609 | 4,453 | 9,985 | 139,561 | 149,546 | 459 | ||||||||||||||
39,388 | 12,942 | 23,595 | 75,925 | 526,263 | 602,188 | 690 | |||||||||||||||
Non-traditional | 3,217 | 1,162 | 2,311 | 6,690 | 35,412 | 42,102 | - | ||||||||||||||
Loss mitigation program | 9,759 | 5,560 | 13,191 | 28,510 | 57,808 | 86,318 | 2,185 | ||||||||||||||
52,364 | 19,664 | 39,097 | 111,125 | 619,483 | 730,608 | 2,875 | |||||||||||||||
Home equity secured personal loans | - | - | 138 | 138 | 598 | 736 | - | ||||||||||||||
GNMA's buy-back option program | - | - | 34,921 | 34,921 | - | 34,921 | - | ||||||||||||||
52,364 | 19,664 | 74,156 | 146,184 | 620,081 | 766,265 | 2,875 | |||||||||||||||
Commercial | |||||||||||||||||||||
Commercial secured by real estate: | |||||||||||||||||||||
Corporate | - | - | - | - | 54,796 | 54,796 | - | ||||||||||||||
Institutional | - | - | - | - | 4,050 | 4,050 | - | ||||||||||||||
Middle market | 1,356 | - | 10,294 | 11,650 | 149,933 | 161,583 | - | ||||||||||||||
Retail | 4,253 | 1,015 | 3,190 | 8,458 | 158,184 | 166,642 | - | ||||||||||||||
Floor plan | - | - | - | - | 1,835 | 1,835 | - | ||||||||||||||
Real estate | - | - | - | - | 11,655 | 11,655 | - | ||||||||||||||
5,609 | 1,015 | 13,484 | 20,108 | 380,453 | 400,561 | - | |||||||||||||||
Other commercial and industrial: | |||||||||||||||||||||
Corporate | 236 | - | - | 236 | 32,362 | 32,598 | - | ||||||||||||||
Institutional | - | - | - | - | 536,445 | 536,445 | - | ||||||||||||||
Middle market | - | 299 | 1,134 | 1,433 | 57,464 | 58,897 | - | ||||||||||||||
Retail | 1,830 | 552 | 539 | 2,921 | 58,589 | 61,510 | - | ||||||||||||||
Floor plan | 39 | - | - | 39 | 37,607 | 37,646 | - | ||||||||||||||
2,105 | 851 | 1,673 | 4,629 | 722,467 | 727,096 | - | |||||||||||||||
7,714 | 1,866 | 15,157 | 24,737 | 1,102,920 | 1,127,657 | - | |||||||||||||||
31-Dec-13 | |||||||||||||||||||||
Loans 90+ | |||||||||||||||||||||
Days Past | |||||||||||||||||||||
Due and | |||||||||||||||||||||
30-59 Days | 60-89 Days | 90+ Days | Total Past | Still | |||||||||||||||||
Past Due | Past Due | Past Due | Due | Current | Total Loans | Accruing | |||||||||||||||
(In thousands) | |||||||||||||||||||||
Consumer | |||||||||||||||||||||
Credit cards | 287 | 168 | 232 | 687 | 14,554 | 15,241 | - | ||||||||||||||
Overdrafts | 46 | 4 | - | 50 | 322 | 372 | - | ||||||||||||||
Personal lines of credit | 33 | 38 | 66 | 137 | 1,844 | 1,981 | - | ||||||||||||||
Personal loans | 1,324 | 399 | 352 | 2,075 | 92,485 | 94,560 | - | ||||||||||||||
Cash collateral personal loans | 324 | 43 | - | 367 | 15,223 | 15,590 | - | ||||||||||||||
2,014 | 652 | 650 | 3,316 | 124,428 | 127,744 | - | |||||||||||||||
Auto and leasing | 25,531 | 9,437 | 5,089 | 40,057 | 339,817 | 379,874 | - | ||||||||||||||
Total | $ | 87,623 | $ | 31,619 | $ | 95,052 | $ | 214,294 | $ | 2,187,246 | $ | 2,401,540 | $ | 2,875 | |||||||
The following table presents the aging of the recorded investment in gross acquired loans accounted for under ASC 310-20 as of March 31, 2014 and December 31, 2013, by class of loans: | |||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||
Loans 90+ | |||||||||||||||||||||
Days Past | |||||||||||||||||||||
Due and | |||||||||||||||||||||
30-59 Days | 60-89 Days | 90+ Days | Total Past | Still | |||||||||||||||||
Past Due | Past Due | Past Due | Due | Current | Total Loans | Accruing | |||||||||||||||
(In thousands) | |||||||||||||||||||||
Commercial | |||||||||||||||||||||
Commercial secured by real estate | |||||||||||||||||||||
Corporate | $ | - | $ | - | $ | - | $ | - | $ | 11,079 | $ | 11,079 | $ | - | |||||||
Retail | 47 | - | 603 | 650 | 3,651 | 4,301 | - | ||||||||||||||
Floor plan | - | - | 101 | 101 | 2,651 | 2,752 | - | ||||||||||||||
47 | - | 704 | 751 | 17,381 | 18,132 | - | |||||||||||||||
Other commercial and industrial | |||||||||||||||||||||
Corporate | 14 | - | 82 | 96 | 2,851 | 2,947 | - | ||||||||||||||
Institutional | - | - | - | - | 221 | 221 | - | ||||||||||||||
Retail | 645 | 128 | 716 | 1,489 | 15,727 | 17,216 | - | ||||||||||||||
Floor plan | 84 | - | 126 | 210 | 32,851 | 33,061 | - | ||||||||||||||
743 | 128 | 924 | 1,795 | 51,650 | 53,445 | - | |||||||||||||||
790 | 128 | 1,628 | 2,546 | 69,031 | 71,577 | - | |||||||||||||||
Consumer | |||||||||||||||||||||
Credit cards | 1,413 | 781 | 2,078 | 4,272 | 44,109 | 48,381 | - | ||||||||||||||
Personal loans | 105 | 83 | 57 | 245 | 3,423 | 3,668 | - | ||||||||||||||
1,518 | 864 | 2,135 | 4,517 | 47,532 | 52,049 | - | |||||||||||||||
Auto | 13,161 | 3,522 | 1,342 | 18,025 | 250,840 | 268,865 | - | ||||||||||||||
Total | $ | 15,469 | $ | 4,514 | $ | 5,105 | $ | 25,088 | $ | 367,403 | $ | 392,491 | $ | - | |||||||
31-Dec-13 | |||||||||||||||||||||
Loans 90+ | |||||||||||||||||||||
Days Past | |||||||||||||||||||||
Due and | |||||||||||||||||||||
30-59 Days | 60-89 Days | 90+ Days | Total Past | Still | |||||||||||||||||
Past Due | Past Due | Past Due | Due | Current | Total Loans | Accruing | |||||||||||||||
(In thousands) | |||||||||||||||||||||
Commercial | |||||||||||||||||||||
Commercial secured by real estate | |||||||||||||||||||||
Corporate | $ | - | $ | - | $ | - | $ | - | $ | 10,166 | $ | 10,166 | $ | - | |||||||
Retail | 431 | 331 | 868 | 1,630 | 4,140 | 5,770 | - | ||||||||||||||
Floor plan | - | - | 101 | 101 | 2,576 | 2,677 | - | ||||||||||||||
431 | 331 | 969 | 1,731 | 16,882 | 18,613 | - | |||||||||||||||
Other commercial and industrial | |||||||||||||||||||||
Corporate | 14 | 83 | - | 97 | 9,696 | 9,793 | - | ||||||||||||||
Retail | 1,717 | 1,418 | 659 | 3,794 | 23,544 | 27,338 | - | ||||||||||||||
Floor plan | 35 | 193 | 18 | 246 | 21,691 | 21,937 | - | ||||||||||||||
1,766 | 1,694 | 677 | 4,137 | 54,931 | 59,068 | - | |||||||||||||||
2,197 | 2,025 | 1,646 | 5,868 | 71,813 | 77,681 | - | |||||||||||||||
Consumer | |||||||||||||||||||||
Credit cards | 2,217 | 1,200 | 2,068 | 5,485 | 46,714 | 52,199 | - | ||||||||||||||
Personal loans | 196 | 7 | 91 | 294 | 3,681 | 3,975 | - | ||||||||||||||
2,413 | 1,207 | 2,159 | 5,779 | 50,395 | 56,174 | - | |||||||||||||||
Auto | 12,534 | 3,616 | 1,608 | 17,758 | 283,826 | 301,584 | - | ||||||||||||||
Total | $ | 17,144 | $ | 6,848 | $ | 5,413 | $ | 29,405 | $ | 406,034 | $ | 435,439 | $ | - | |||||||
Carrying Amounts Of Acquired Non Covered Loans Tabular Disclosure [Table Text Block] | ' | ||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Contractual required payments receivable | $2,799,336 | $2,929,353 | |||||||||||||||||||
Less: Non-accretable discount | 563,294 | 579,587 | |||||||||||||||||||
Cash expected to be collected | 2,236,042 | 2,349,766 | |||||||||||||||||||
Less: Accretable yield | 482,001 | 517,553 | |||||||||||||||||||
Carrying amount | $1,754,041 | $1,832,213 | |||||||||||||||||||
Accretable Yield for Acquired Loans Non-covered [Table Text Block] | ' | ||||||||||||||||||||
The following tables describe the accretable yield and non-accretable discount activity of acquired loans accounted for under ASC 310-30 for the quarters ended March 31, 2014 and 2013, excluding covered loans | |||||||||||||||||||||
Quarter Ended March 31, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Accretable Yield Activity | |||||||||||||||||||||
Balance at beginning of period | $ | 517,553 | $ | 655,833 | |||||||||||||||||
Accretion | -40,269 | -47,668 | |||||||||||||||||||
Transfer from non-accretable discount | 4,717 | - | |||||||||||||||||||
Balance at end of period | $ | 482,001 | $ | 608,165 | |||||||||||||||||
Quarter Ended March 31, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Non-Accretable Discount Activity | |||||||||||||||||||||
Balance at beginning of period | $ | 579,587 | $ | 714,462 | |||||||||||||||||
Principal losses | -11,576 | -8,746 | |||||||||||||||||||
Transfer to accretable yield | -4,717 | - | |||||||||||||||||||
Balance at end of period | $ | 563,294 | $ | 705,716 | |||||||||||||||||
Covered loans carrying amount [Table Text Block] | ' | ||||||||||||||||||||
Covered Loans | |||||||||||||||||||||
The carrying amount of covered loans at March 31, 2014 and December 31, 2013 is as follows: | |||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Contractual required payments receivable | $ | 657,353 | $ | 702,126 | |||||||||||||||||
Less: Non-accretable discount | 107,323 | 129,477 | |||||||||||||||||||
Cash expected to be collected | 550,030 | 572,649 | |||||||||||||||||||
Less: Accretable yield | 147,767 | 162,959 | |||||||||||||||||||
Carrying amount, gross | 402,263 | 409,690 | |||||||||||||||||||
Less: Allowance for covered loan and lease losses | 54,398 | 52,729 | |||||||||||||||||||
Carrying amount, net | $ | 347,865 | $ | 356,961 | |||||||||||||||||
The following tables describe the accretable yield and non-accretable discount activity of covered loans for the quarters ended March 31, 2014 and 2013: | |||||||||||||||||||||
Accretable Yield for Acquired Loans Covered [Table Text Block] | ' | ||||||||||||||||||||
Quarter Ended March 31, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Accretable yield activity | |||||||||||||||||||||
Balance at beginning of period | $ | 162,959 | $ | 188,008 | |||||||||||||||||
Accretion | -23,388 | -20,229 | |||||||||||||||||||
Transfer from non-accretable discount | 8,196 | 6,328 | |||||||||||||||||||
Balance at end of period | $ | 147,767 | $ | 174,107 | |||||||||||||||||
Quarter Ended March 31, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Non-accretable discount activity | |||||||||||||||||||||
Balance at beginning of period | $ | 129,477 | $ | 237,555 | |||||||||||||||||
Principal losses | -13,958 | -16,991 | |||||||||||||||||||
Transfer to accretable yield | -8,196 | -6,328 | |||||||||||||||||||
Balance at end of period | $ | 107,323 | $ | 214,236 | |||||||||||||||||
Financing Receivable Recorded Investment Nonaccrual Status By Class Of Loans [Table Text Block] | ' | ||||||||||||||||||||
Non-accrual Loans | |||||||||||||||||||||
The following table presents the recorded investment in loans in non-accrual status by class of loans as of March 31, 2014 and December 31, 2013: | |||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Originated and other loans and leases held for investment | |||||||||||||||||||||
Mortgage | |||||||||||||||||||||
Traditional (by origination year): | |||||||||||||||||||||
Up to the year 2002 | $ | 2,884 | $ | 3,428 | |||||||||||||||||
Years 2003 and 2004 | 2,359 | 1,845 | |||||||||||||||||||
Year 2005 | 6,667 | 4,922 | |||||||||||||||||||
Year 2006 | 4,555 | 4,418 | |||||||||||||||||||
Years 2007, 2008 and 2009 | 4,943 | 4,511 | |||||||||||||||||||
Years 2010, 2011, 2012, 2013 and 2014 | 8,342 | 7,818 | |||||||||||||||||||
29,750 | 26,942 | ||||||||||||||||||||
Non-traditional | 2,425 | 2,311 | |||||||||||||||||||
Loss mitigation program | 16,903 | 18,792 | |||||||||||||||||||
49,078 | 48,045 | ||||||||||||||||||||
Home equity secured personal loans | 138 | 138 | |||||||||||||||||||
49,216 | 48,183 | ||||||||||||||||||||
Commercial | |||||||||||||||||||||
Commercial secured by real estate | |||||||||||||||||||||
Middle market | 11,596 | 11,895 | |||||||||||||||||||
Retail | 8,760 | 7,208 | |||||||||||||||||||
20,356 | 19,103 | ||||||||||||||||||||
Other commercial and industrial | |||||||||||||||||||||
Middle market | 513 | 1,134 | |||||||||||||||||||
Retail | 2,923 | 2,485 | |||||||||||||||||||
Floor plan | - | 108 | |||||||||||||||||||
3,436 | 3,727 | ||||||||||||||||||||
23,792 | 22,830 | ||||||||||||||||||||
Consumer | |||||||||||||||||||||
Credit cards | 354 | 232 | |||||||||||||||||||
Overdrafts | 4 | - | |||||||||||||||||||
Personal lines of credit | 161 | 84 | |||||||||||||||||||
Personal loans | 547 | 485 | |||||||||||||||||||
Cash collateral personal loans | 18 | 4 | |||||||||||||||||||
1,084 | 805 | ||||||||||||||||||||
Auto and leasing | 6,047 | 5,089 | |||||||||||||||||||
$ | 80,139 | $ | 76,907 | ||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Acquired loans accounted under ASC 310-20 | |||||||||||||||||||||
Commercial | |||||||||||||||||||||
Commercial secured by real estate | |||||||||||||||||||||
Retail | $ | 688 | $ | 956 | |||||||||||||||||
Floor plan | 101 | 101 | |||||||||||||||||||
789 | 1,057 | ||||||||||||||||||||
Other commercial and industrial | |||||||||||||||||||||
Corporate | 96 | 97 | |||||||||||||||||||
Retail | 851 | 1,371 | |||||||||||||||||||
Floor plan | 126 | 18 | |||||||||||||||||||
1,073 | 1,486 | ||||||||||||||||||||
1,862 | 2,543 | ||||||||||||||||||||
Consumer | |||||||||||||||||||||
Credit cards | 2,076 | 2,068 | |||||||||||||||||||
Personal loans | 58 | 151 | |||||||||||||||||||
2,134 | 2,219 | ||||||||||||||||||||
Auto | 1,515 | 1,608 | |||||||||||||||||||
5,511 | 6,370 | ||||||||||||||||||||
Total non-accrual loans | $ | 85,650 | $ | 83,277 |
Allowance_for_Loan_and_Lease_L1
Allowance for Loan and Lease Losses (Tables) | 3 Months Ended | |||||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||||
Loans Receivable [Abstract] | ' | |||||||||||||||||||||||
Allowance for Credit Losses on Financing Receivables [Table Text Block] | ' | |||||||||||||||||||||||
The composition of the Company's allowance for loan and lease losses at March 31, 2014 and December 31, 2013 was as follows: | ||||||||||||||||||||||||
March 31, | December 31, | |||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Allowance for loans and lease losses on non-covered loans: | ||||||||||||||||||||||||
Originated and other loans and leases held for investment: | ||||||||||||||||||||||||
Mortgage | $ | 19,511 | $ | 19,937 | ||||||||||||||||||||
Commercial | 13,994 | 14,897 | ||||||||||||||||||||||
Consumer | 7,135 | 6,006 | ||||||||||||||||||||||
Auto and leasing | 8,731 | 7,866 | ||||||||||||||||||||||
Unallocated | 136 | 375 | ||||||||||||||||||||||
49,507 | 49,081 | |||||||||||||||||||||||
Acquired loans: | ||||||||||||||||||||||||
Accounted for under ASC 310-20 (Loans with revolving feature and/or | ||||||||||||||||||||||||
acquired at a premium) | ||||||||||||||||||||||||
Commercial | 867 | 926 | ||||||||||||||||||||||
Consumer | 504 | - | ||||||||||||||||||||||
Auto | 2,247 | 1,428 | ||||||||||||||||||||||
3,618 | 2,354 | |||||||||||||||||||||||
Accounted for under ASC 310-30 (Loans acquired with deteriorated | ||||||||||||||||||||||||
credit quality, including those by analogy) | ||||||||||||||||||||||||
Commercial | 2,653 | 1,713 | ||||||||||||||||||||||
Consumer | 405 | 418 | ||||||||||||||||||||||
Auto | - | 732 | ||||||||||||||||||||||
3,058 | 2,863 | |||||||||||||||||||||||
56,183 | 54,298 | |||||||||||||||||||||||
Allowance for loans and lease losses on covered loans: | ||||||||||||||||||||||||
Loans secured by 1-4 family residential properties | 14,221 | 12,495 | ||||||||||||||||||||||
Commercial and other construction | 39,562 | 39,619 | ||||||||||||||||||||||
Consumer | 615 | 615 | ||||||||||||||||||||||
54,398 | 52,729 | |||||||||||||||||||||||
Total allowance for loan and lease losses | $ | 110,581 | $ | 107,027 | ||||||||||||||||||||
The following tables present the activity in our allowance for loan and lease losses and the related recorded investment of the associated loans for our originated and other loans held for investment portfolio by segment for the periods indicated: | ||||||||||||||||||||||||
Quarter Ended March 31, 2014 | ||||||||||||||||||||||||
Auto and | ||||||||||||||||||||||||
Mortgage | Commercial | Consumer | Leasing | Unallocated | Total | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Allowance for loan and lease losses for non-covered originated and other loans: | ||||||||||||||||||||||||
Balance at beginning of period | $ | 19,937 | $ | 14,897 | $ | 6,006 | $ | 7,866 | $ | 375 | $ | 49,081 | ||||||||||||
Charge-offs | -1,214 | -419 | -838 | -4,645 | - | -7,116 | ||||||||||||||||||
Recoveries | 148 | 98 | 147 | 1,524 | - | 1,917 | ||||||||||||||||||
Provision for non-covered originated and other loan and lease losses | 640 | -582 | 1,820 | 3,986 | -239 | 5,625 | ||||||||||||||||||
Balance at end of period | $ | 19,511 | $ | 13,994 | $ | 7,135 | $ | 8,731 | $ | 136 | $ | 49,507 | ||||||||||||
31-Mar-14 | ||||||||||||||||||||||||
Mortgage | Commercial | Consumer | Auto and Leasing | Unallocated | Total | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Allowance for loan and lease losses on non-covered originated and other loans: | ||||||||||||||||||||||||
Ending allowance balance attributable to loans: | ||||||||||||||||||||||||
Individually evaluated for impairment | $ | 8,001 | $ | 1,704 | $ | - | $ | - | $ | - | $ | 9,705 | ||||||||||||
Collectively evaluated for impairment | 11,510 | 12,290 | 7,135 | 8,731 | 136 | 39,802 | ||||||||||||||||||
Total ending allowance balance | $ | 19,511 | $ | 13,994 | $ | 7,135 | $ | 8,731 | $ | 136 | $ | 49,507 | ||||||||||||
Loans: | ||||||||||||||||||||||||
Individually evaluated for impairment | $ | 87,744 | $ | 27,767 | $ | - | $ | - | $ | - | $ | 115,511 | ||||||||||||
Collectively evaluated for impairment | 694,406 | 1,142,378 | 142,492 | 447,940 | - | 2,427,216 | ||||||||||||||||||
Total ending loan balance | $ | 782,150 | $ | 1,170,145 | $ | 142,492 | $ | 447,940 | $ | - | $ | 2,542,727 | ||||||||||||
Quarter Ended March 31, 2013 | ||||||||||||||||||||||||
Mortgage | Commercial | Consumer | Auto and Leasing | Unallocated | Total | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Allowance for loan and lease losses for non-covered originated and other loans: | ||||||||||||||||||||||||
Balance at beginning of period | $ | 21,092 | $ | 17,072 | $ | 856 | $ | 533 | $ | 368 | $ | 39,921 | ||||||||||||
Charge-offs | -2,588 | -557 | -246 | -91 | - | -3,482 | ||||||||||||||||||
Recoveries | - | 28 | 65 | 7 | - | 100 | ||||||||||||||||||
Provision for (recapture of) non-covered originated and other loan and lease losses | 4,385 | -229 | 638 | 1,292 | -291 | 5,795 | ||||||||||||||||||
Balance at end of period | $ | 22,889 | $ | 16,314 | $ | 1,313 | $ | 1,741 | $ | 77 | $ | 42,334 | ||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Mortgage | Commercial | Consumer | Auto and Leasing | Unallocated | Total | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Allowance for loan and lease losses for non-covered originated and other loans: | ||||||||||||||||||||||||
Ending allowance balance attributable to loans: | ||||||||||||||||||||||||
Individually evaluated for impairment | $ | 8,708 | $ | 1,431 | $ | - | $ | - | $ | - | $ | 10,139 | ||||||||||||
Collectively evaluated for impairment | 11,229 | 13,466 | 6,006 | 7,866 | 375 | 38,942 | ||||||||||||||||||
Total ending allowance balance | $ | 19,937 | $ | 14,897 | $ | 6,006 | $ | 7,866 | $ | 375 | $ | 49,081 | ||||||||||||
Loans: | ||||||||||||||||||||||||
Individually evaluated for impairment | $ | 84,494 | $ | 28,145 | $ | - | $ | - | $ | - | $ | 112,639 | ||||||||||||
Collectively evaluated for impairment | 681,771 | 1,099,512 | 127,744 | 379,874 | - | 2,288,901 | ||||||||||||||||||
Total ending loans balance | $ | 766,265 | $ | 1,127,657 | $ | 127,744 | $ | 379,874 | $ | - | $ | 2,401,540 | ||||||||||||
The following tables present the activity in our allowance for loan losses and related recorded investment of the associated loans in our non-covered acquired loan portfolio, excluding loans accounted for under ASC 310-30, for the quarter ended March 31, 2014 | ||||||||||||||||||||||||
Quarter Ended March 31, 2014 | ||||||||||||||||||||||||
Commercial | Consumer | Auto | Unallocated | Total | ||||||||||||||||||||
Allowance for loan and lease losses for non-covered acquired loans accounted for under ASC 310-20: | ||||||||||||||||||||||||
Balance at beginning of period | $ | 926 | $1 | $ | - | $ | 1,428 | $ | - | $ | 2,354 | |||||||||||||
Charge-offs | -174 | -2,058 | -1,296 | - | -3,528 | |||||||||||||||||||
Recoveries | - | 100 | 450 | - | 550 | |||||||||||||||||||
Provision for non-covered acquired loan and lease losses accounted for under ASC 310-20 | 115 | 2,462 | 1,665 | - | 4,242 | |||||||||||||||||||
Balance at end of period | $ | 867 | $ | 504 | $ | 2,247 | $ | - | $ | 3,618 | ||||||||||||||
31-Mar-14 | ||||||||||||||||||||||||
Commercial | Consumer | Auto | Unallocated | Total | ||||||||||||||||||||
Allowance for loan and lease losses on non-covered acquired loans accounted for under ASC 310-20: | ||||||||||||||||||||||||
Ending allowance balance attributable to loans: | ||||||||||||||||||||||||
Collectively evaluated for impairment | 867 | 504 | 2,247 | - | 3,618 | |||||||||||||||||||
Total ending allowance balance | $ | 867 | $ | 504 | $ | 2,247 | $ | - | $ | 3,618 | ||||||||||||||
Loans: | ||||||||||||||||||||||||
Collectively evaluated for impairment | 71,577 | 52,049 | 268,865 | - | 392,491 | |||||||||||||||||||
Total ending loan balance | $ | 71,577 | $ | 52,049 | $ | 268,865 | $ | - | $ | 392,491 | ||||||||||||||
Quarter Ended March 31, 2013 | ||||||||||||||||||||||||
Commercial | Consumer | Auto | Unallocated | Total | ||||||||||||||||||||
Allowance for loan and lease losses for non-covered acquired loans accounted for under ASC 310-20: | ||||||||||||||||||||||||
Balance at beginning of period | $ | - | $1 | $ | - | $ | - | $ | - | $ | - | |||||||||||||
Charge-offs | - | -1,456 | -1,715 | - | -3,171 | |||||||||||||||||||
Recoveries | - | 207 | 1,230 | - | 1,437 | |||||||||||||||||||
Provision for non-covered acquired loan and lease losses accounted for under ASC 310-20 | 386 | 1,249 | 485 | - | 2,120 | |||||||||||||||||||
Balance at end of period | $ | 386 | $ | - | $ | - | $ | - | $ | 386 | ||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Commercial | Consumer | Auto | Unallocated | Total | ||||||||||||||||||||
Allowance for loan and lease losses on non-covered acquired loans accounted for under ASC 310-20: | ||||||||||||||||||||||||
Ending allowance balance attributable to loans: | ||||||||||||||||||||||||
Collectively evaluated for impairment | 926 | - | 1,428 | - | 2,354 | |||||||||||||||||||
Total ending allowance balance | $ | 926 | $ | - | $ | 1,428 | $ | - | $ | 2,354 | ||||||||||||||
Loans: | ||||||||||||||||||||||||
Collectively evaluated for impairment | 77,681 | 56,174 | 301,584 | - | 435,439 | |||||||||||||||||||
Total ending loan balance | $ | 77,681 | $ | 56,174 | $ | 301,584 | $ | - | $ | 435,439 | ||||||||||||||
The following tables present the activity in our allowance for loan losses and related recorded investment of the associated loans in our non-covered acquired loan portfolio accounted for under ASC 310-30, for the quarter ended March 31, 2014: | ||||||||||||||||||||||||
Quarter Ended March 31, 2014 | ||||||||||||||||||||||||
Mortgage | Commercial | Construction | Consumer | Auto | Total | |||||||||||||||||||
Allowance for loan and lease losses for non-covered loans accounted for under ASC 310-30: | ||||||||||||||||||||||||
Balance at beginning of period | $ | - | $1 | $ | 1,713 | $1 | $ | - | $1 | $ | 418 | $ | 732 | $ | 2,863 | |||||||||
Provision for non-covered acquired loan and lease losses accounted for under ASC 310-30 | - | 940 | - | -13 | -732 | 195 | ||||||||||||||||||
Balance at end of period | $ | - | $ | 2,653 | $ | - | $ | 405 | $ | - | $ | 3,058 | ||||||||||||
Impaired Financing Receivables [Table Text Block] | ' | |||||||||||||||||||||||
The Company's recorded investment in commercial and mortgage loans that were individually evaluated for impairment, excluding loans accounted for under ASC 310-30, and the related allowance for loan and lease losses at March 31, 2014 and December 31, 2013 are as follows: | ||||||||||||||||||||||||
Originated and Other Loans and Leases Held for Investment | ||||||||||||||||||||||||
31-Mar-14 | ||||||||||||||||||||||||
Unpaid | Recorded | Related | ||||||||||||||||||||||
Principal | Investment | Allowance | Coverage | |||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Impaired loans with specific allowance: | ||||||||||||||||||||||||
Commercial | $ | 7,856 | $ | 6,686 | $ | 1,704 | 25% | |||||||||||||||||
Residential troubled-debt restructuring | 92,870 | 87,744 | 8,002 | 9% | ||||||||||||||||||||
Impaired loans with no specific allowance: | ||||||||||||||||||||||||
Commercial | 26,744 | 21,081 | N/A | N/A | ||||||||||||||||||||
Total investment in impaired loans | $ | 127,470 | $ | 115,511 | $ | 9,706 | 8% | |||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Unpaid | Recorded | Related | ||||||||||||||||||||||
Principal | Investment | Allowance | Coverage | |||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Impaired loans with specific allowance | ||||||||||||||||||||||||
Commercial | $ | 6,600 | $ | 5,553 | $ | 1,431 | 26% | |||||||||||||||||
Residential troubled-debt restructuring | 89,539 | 84,494 | 8,708 | 10% | ||||||||||||||||||||
Impaired loans with no specific allowance | ||||||||||||||||||||||||
Commercial | 27,914 | 22,592 | N/A | N/A | ||||||||||||||||||||
Total investment in impaired loans | $ | 124,053 | $ | 112,639 | $ | 10,139 | 9% | |||||||||||||||||
Acquired Loans Accounted for under ASC-310-20 (Loans with revolving feature and/or acquired at a premium) | ||||||||||||||||||||||||
31-Mar-14 | ||||||||||||||||||||||||
Unpaid | Recorded | Related | ||||||||||||||||||||||
Principal | Investment | Allowance | Coverage | |||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Impaired loans with no specific allowance | ||||||||||||||||||||||||
Commercial | 208 | 208 | N/A | N/A | ||||||||||||||||||||
Total investment in impaired loans | $ | 208 | $ | 208 | $ | - | 0% | |||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Unpaid | Recorded | Specific | ||||||||||||||||||||||
Principal | Investment | Allowance | Coverage | |||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Impaired loans with no specific allowance | ||||||||||||||||||||||||
Commercial | 208 | 208 | N/A | N/A | ||||||||||||||||||||
Total investment in impaired loans | $ | 208 | $ | 208 | $ | - | 0% | |||||||||||||||||
The Company's recorded investment in non-covered acquired loan pools accounted for under ASC 310-30 and their related allowance for non-covered loan and lease losses at March 31, 2014 and December 31, 2013 are as follows | ||||||||||||||||||||||||
Acquired Loans Accounted for under ASC 310-30 (including those accounted for under ASC 310-30 by analogy | ||||||||||||||||||||||||
31-Mar-14 | ||||||||||||||||||||||||
Unpaid | Recorded | |||||||||||||||||||||||
Principal | Investment | Allowance | Coverage | |||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Impaired non-covered loan pools: | ||||||||||||||||||||||||
Mortgage | $ | 5,008 | $ | 4,510 | $ | 57 | 1% | |||||||||||||||||
Commercial | 89,496 | 78,742 | 879 | 1% | ||||||||||||||||||||
Construction | 46,256 | 40,397 | 1,773 | 4% | ||||||||||||||||||||
Consumer | 61,584 | 53,307 | 349 | 1% | ||||||||||||||||||||
Total investment in impaired non-covered loan pools | $ | 202,344 | $ | 176,956 | $ | 3,058 | 2% | |||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Unpaid | Recorded | |||||||||||||||||||||||
Principal | Investment | Allowance | Coverage | |||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Impaired non-covered loan pools: | ||||||||||||||||||||||||
Mortgage | $ | 5,183 | $ | 4,718 | $ | 57 | 1% | |||||||||||||||||
Commercial | 48,100 | 40,411 | 394 | 1% | ||||||||||||||||||||
Construction | 21,526 | 17,818 | 1,319 | 7% | ||||||||||||||||||||
Consumer | 73,043 | 63,606 | 361 | 1% | ||||||||||||||||||||
Auto | 379,236 | 377,316 | 732 | 0% | ||||||||||||||||||||
Total investment in impaired non-covered loan pools | $ | 527,088 | $ | 503,869 | $ | 2,863 | 1% | |||||||||||||||||
The following table presents the interest recognized in commercial and mortgage loans that were individually evaluated for impairment, excluding loans accounted for under ASC 310-30, for the quarters ended March 31, 2014 and 2013 | ||||||||||||||||||||||||
Quarter Ended March 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | |||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Impaired loans with specific allowance | ||||||||||||||||||||||||
Commercial | $ | 24 | $ | 6,259 | $ | 4 | $ | 15,472 | ||||||||||||||||
Residential troubled-debt restructuring | 645 | 87,052 | 443 | 78,748 | ||||||||||||||||||||
Impaired loans with no specific allowance | ||||||||||||||||||||||||
Commercial | 78 | 21,629 | 293 | 30,360 | ||||||||||||||||||||
Total interest income from impaired loans | $ | 747 | $ | 114,940 | $ | 740 | $ | 124,580 | ||||||||||||||||
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | ' | |||||||||||||||||||||||
Modifications | ||||||||||||||||||||||||
The following table presents the troubled-debt restructurings during the quarters ended March 31, 2014 and 2013: | ||||||||||||||||||||||||
Quarter Ended March 31, 2014 | ||||||||||||||||||||||||
Number of contracts | Pre-Modification Outstanding Recorded Investment | Pre-Modification Weighted Average Rate | Pre-Modification Weighted Average Term (in Months) | Post-Modification Outstanding Recorded Investment | Post-Modification Weighted Average Rate | Post-Modification Weighted Average Term (in Months) | ||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
Mortgage | 34 | $ | 4,009 | 6.43% | 347 | $ | 3,910 | 4.35% | 375 | |||||||||||||||
Consumer | 5 | 42 | 12.97% | 67 | 44 | 12.95% | 66 | |||||||||||||||||
Quarter Ended March 31, 2013 | ||||||||||||||||||||||||
Number of contracts | Pre- Modification Outstanding Recorded Investment | Pre-Modification Weighted Average Rate | Pre-Modification Weighted Average Term (in Months) | Post-Modification Outstanding Recorded Investment | Post-Modification Weighted Average Rate | Post-Modification Weighted Average Term (in Months) | ||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
Mortgage | 57 | $ | 7,518 | 6.28% | 331 | $ | 8,040 | 4.35% | 409 | |||||||||||||||
The following table presents troubled-debt restructurings for which there was a payment default during the twelve-month period ended March 31, 2014 and 2013: | ||||||||||||||||||||||||
Twelve-Month Period Ended March 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Number of Contracts | Recorded Investment | Number of Contracts | Recorded Investment | |||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
Mortgage | 19 | $ | 2,592 | 32 | $ | 4,295 | ||||||||||||||||||
Commercial | - | $ | - | 1 | $ | 18 | ||||||||||||||||||
Consumer | 1 | $ | 11 | - | $ | - | ||||||||||||||||||
Financing Receivable Credit Quality Indicators [Table Text Block] | ' | |||||||||||||||||||||||
As of March 31, 2014 and December 31, 2013, and based on the most recent analysis performed, the risk category of gross non-covered originated and other loans and acquired loans accounted for under ASC 310-20 subject to risk rating by class of loans is as follows: | ||||||||||||||||||||||||
31-Mar-14 | ||||||||||||||||||||||||
Risk Ratings | ||||||||||||||||||||||||
Individually | ||||||||||||||||||||||||
Balance | Special | Measured for | ||||||||||||||||||||||
Outstanding | Pass | Mention | Substandard | Doubtful | Impairment | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Commercial - originated and other loans held for investment | ||||||||||||||||||||||||
Commercial secured by real estate: | ||||||||||||||||||||||||
Corporate | $ | 62,935 | $ | 62,935 | $ | - | $ | - | $ | - | $ | - | ||||||||||||
Institutional | 9,833 | 9,833 | - | - | - | - | ||||||||||||||||||
Middle market | 169,753 | 141,537 | 16,619 | - | - | 11,597 | ||||||||||||||||||
Retail | 156,694 | 139,971 | 1,929 | 1,892 | - | 12,902 | ||||||||||||||||||
Floor plan | 1,699 | 1,699 | - | - | - | - | ||||||||||||||||||
Real estate | 11,837 | 11,837 | - | - | - | - | ||||||||||||||||||
412,751 | 367,812 | 18,548 | 1,892 | - | 24,499 | |||||||||||||||||||
Other commercial and industrial: | ||||||||||||||||||||||||
Corporate | 28,475 | 28,475 | - | - | - | - | ||||||||||||||||||
Institutional | 553,249 | 553,249 | - | - | - | - | ||||||||||||||||||
Middle market | 82,933 | 77,566 | 3,336 | 771 | - | 1,260 | ||||||||||||||||||
Retail | 67,055 | 63,366 | 119 | 1,562 | - | 2,008 | ||||||||||||||||||
Floor plan | 25,682 | 25,372 | 202 | 108 | - | - | ||||||||||||||||||
757,394 | 748,028 | 3,657 | 2,441 | - | 3,268 | |||||||||||||||||||
Total | 1,170,145 | 1,115,840 | 22,205 | 4,333 | - | 27,767 | ||||||||||||||||||
Commercial - acquired loans (under ASC 310-20) | ||||||||||||||||||||||||
Commercial secured by real estate: | ||||||||||||||||||||||||
Corporate | 11,079 | 11,079 | - | - | - | - | ||||||||||||||||||
Retail | 4,301 | 3,490 | 245 | 566 | - | - | ||||||||||||||||||
Floor plan | 2,752 | 2,651 | - | 101 | - | - | ||||||||||||||||||
18,132 | 17,220 | 245 | 667 | - | - | |||||||||||||||||||
Other commercial and industrial: | ||||||||||||||||||||||||
Corporate | 2,947 | 2,851 | - | 96 | - | - | ||||||||||||||||||
Institutional | 221 | 221 | - | - | - | - | ||||||||||||||||||
Retail | 17,216 | 16,460 | 100 | 656 | - | - | ||||||||||||||||||
Floor plan | 33,061 | 32,998 | 63 | - | - | - | ||||||||||||||||||
53,445 | 52,530 | 163 | 752 | - | - | |||||||||||||||||||
Total | 71,577 | 69,750 | 408 | 1,419 | - | - | ||||||||||||||||||
Total | $ | 1,241,722 | $ | 1,185,590 | $ | 22,613 | $ | 5,752 | $ | - | $ | 27,767 | ||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Risk Ratings | ||||||||||||||||||||||||
Individually | ||||||||||||||||||||||||
Balance | Special | Measured for | ||||||||||||||||||||||
Outstanding | Pass | Mention | Substandard | Doubtful | Impairment | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Commercial - originated and other loans held for investment | ||||||||||||||||||||||||
Commercial secured by real estate: | ||||||||||||||||||||||||
Corporate | $ | 54,796 | $ | 54,796 | $ | - | $ | - | $ | - | $ | - | ||||||||||||
Institutional | 4,050 | 4,050 | - | - | - | - | ||||||||||||||||||
Middle market | 161,583 | 133,061 | 16,627 | 118 | - | 11,777 | ||||||||||||||||||
Retail | 166,642 | 149,018 | 2,182 | 2,258 | - | 13,184 | ||||||||||||||||||
Floor plan | 1,835 | 1,835 | - | - | - | - | ||||||||||||||||||
Real estate | 11,655 | 11,655 | - | - | - | - | ||||||||||||||||||
400,561 | 354,415 | 18,809 | 2,376 | - | 24,961 | |||||||||||||||||||
Other commercial and industrial: | ||||||||||||||||||||||||
Corporate | 32,598 | 32,598 | - | - | - | - | ||||||||||||||||||
Institutional | 536,445 | 536,445 | - | - | - | - | ||||||||||||||||||
Middle market | 58,897 | 53,868 | 3,466 | 198 | - | 1,365 | ||||||||||||||||||
Retail | 61,510 | 58,742 | 257 | 691 | - | 1,820 | ||||||||||||||||||
Floor plan | 37,646 | 37,350 | 188 | 108 | - | - | ||||||||||||||||||
727,096 | 719,003 | 3,911 | 997 | - | 3,185 | |||||||||||||||||||
Total | 1,127,657 | 1,073,418 | 22,720 | 3,373 | - | 28,146 | ||||||||||||||||||
Commercial - acquired loans (under ASC 310-20) | ||||||||||||||||||||||||
Commercial secured by real estate: | ||||||||||||||||||||||||
Corporate | 10,166 | 10,166 | - | - | - | - | ||||||||||||||||||
Retail | 5,770 | 4,378 | 443 | 949 | - | - | ||||||||||||||||||
Floor plan | 2,677 | 2,576 | - | 101 | - | - | ||||||||||||||||||
18,613 | 17,120 | 443 | 1,050 | - | - | |||||||||||||||||||
Other commercial and industrial: | ||||||||||||||||||||||||
Corporate | 9,793 | 9,696 | - | 97 | - | - | ||||||||||||||||||
Retail | 27,338 | 26,044 | 150 | 1,144 | - | - | ||||||||||||||||||
Floor plan | 21,937 | 21,769 | 168 | - | - | - | ||||||||||||||||||
59,068 | 57,509 | 318 | 1,241 | - | - | |||||||||||||||||||
Total | 77,681 | 74,629 | 761 | 2,291 | - | - | ||||||||||||||||||
Total | $ | 1,205,338 | $ | 1,148,047 | $ | 23,481 | $ | 5,664 | $ | - | $ | 28,146 | ||||||||||||
31-Mar-14 | ||||||||||||||||||||||||
Delinquency | ||||||||||||||||||||||||
Individually | ||||||||||||||||||||||||
Balance | Measured for | |||||||||||||||||||||||
Outstanding | 0-29 days | 30-59 days | 60-89 days | 90-119 days | 120-364 days | 365+ days | Impairment | |||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Originated and other loans and leases held for investment | ||||||||||||||||||||||||
Mortgage | ||||||||||||||||||||||||
Traditional (by origination year) | ||||||||||||||||||||||||
Up to the year 2002 | $ | 72,096 | $ | 61,268 | $ | 5,230 | $ | 2,621 | $ | 382 | $ | 1,037 | $ | 1,459 | $ | 99 | ||||||||
Years 2003 and 2004 | 63,515 | 53,170 | 5,494 | 2,445 | 484 | 1,246 | 612 | 64 | ||||||||||||||||
Year 2005 | 87,818 | 72,414 | 6,448 | 2,288 | 1,233 | 3,576 | 1,324 | 535 | ||||||||||||||||
Year 2006 | 116,904 | 97,822 | 10,151 | 4,376 | 1,169 | 2,410 | 850 | 126 | ||||||||||||||||
Years 2007, 2008 and 2009 | 97,840 | 87,065 | 3,807 | 2,025 | 223 | 3,619 | 875 | 226 | ||||||||||||||||
Years 2010, 2011, 2012 2013 and 2014 | 182,167 | 164,134 | 2,126 | 721 | 1,070 | 1,004 | 1,064 | 12,048 | ||||||||||||||||
620,340 | 535,873 | 33,256 | 14,476 | 4,561 | 12,892 | 6,184 | 13,098 | |||||||||||||||||
Non-traditional | 39,790 | 35,078 | 1,744 | 470 | - | 1,439 | 986 | 73 | ||||||||||||||||
Loss mitigation program | 86,005 | 8,366 | 1,001 | 171 | 219 | 779 | 896 | 74,573 | ||||||||||||||||
746,135 | 579,317 | 36,001 | 15,117 | 4,780 | 15,110 | 8,066 | 87,744 | |||||||||||||||||
Home equity secured personal loans | 733 | 595 | - | - | - | - | 126 | 12 | - | |||||||||||||||
GNMA's buy-back option program | 35,282 | - | - | - | - | 5,529 | 16,742 | 13,011 | - | |||||||||||||||
782,150 | 579,912 | 36,001 | 15,117 | 10,309 | 31,978 | 21,089 | 87,744 | |||||||||||||||||
Consumer | ||||||||||||||||||||||||
Credit cards | 15,490 | 14,701 | 263 | 171 | 136 | 219 | - | - | ||||||||||||||||
Overdrafts | 331 | 289 | 28 | 11 | 1 | 2 | - | - | ||||||||||||||||
Unsecured personal lines of credit | 1,934 | 1,718 | 60 | 99 | 15 | 35 | 7 | - | ||||||||||||||||
Unsecured personal loans | 108,037 | 105,369 | 1,397 | 512 | 195 | 42 | 12 | 510 | ||||||||||||||||
Cash collateral personal loans | 16,700 | 16,263 | 375 | 46 | 13 | 3 | - | - | ||||||||||||||||
142,492 | 138,340 | 2,123 | 839 | 360 | 301 | 19 | 510 | |||||||||||||||||
Auto and Leasing | 447,940 | 399,721 | 33,788 | 8,559 | 3,461 | 2,411 | - | - | ||||||||||||||||
1,372,582 | 1,117,973 | 71,912 | 24,515 | 14,130 | 34,690 | 21,108 | 88,254 | |||||||||||||||||
Acquired loans (accounted for under ASC 310-20) | ||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||
Credit cards | 48,381 | 44,111 | 1,413 | 781 | 743 | 1,333 | - | - | ||||||||||||||||
Personal loans | 3,668 | 3,423 | 105 | 83 | 4 | 53 | - | - | ||||||||||||||||
52,049 | 47,534 | 1,518 | 864 | 747 | 1,386 | - | - | |||||||||||||||||
Auto | 268,865 | 250,840 | 13,161 | 3,522 | 804 | 538 | - | - | ||||||||||||||||
320,914 | 298,374 | 14,679 | 4,386 | 1,551 | 1,924 | - | - | |||||||||||||||||
Total | $ | 1,693,496 | $ | 1,416,347 | $ | 86,591 | $ | 28,901 | $ | 15,681 | $ | 36,614 | $ | 21,108 | $ | 88,254 | ||||||||
31-Dec-13 | ||||||||||||||||||||||||
Delinquency | ||||||||||||||||||||||||
Individually | ||||||||||||||||||||||||
Balance | Measured for | |||||||||||||||||||||||
Outstanding | 0-29 days | 30-59 days | 60-89 days | 90-119 days | 120-364 days | 365+ days | Impairment | |||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Originated and other loans and leases held for investment | ||||||||||||||||||||||||
Mortgage | ||||||||||||||||||||||||
Traditional (by origination year) | ||||||||||||||||||||||||
Up to the year 2002 | $ | 76,512 | $ | 64,743 | $ | 6,594 | $ | 1,634 | $ | 868 | $ | 1,082 | $ | 1,458 | $ | 133 | ||||||||
Years 2003 and 2004 | 65,117 | 56,283 | 4,722 | 1,938 | 56 | 1,437 | 352 | 329 | ||||||||||||||||
Year 2005 | 89,541 | 74,016 | 8,414 | 2,119 | 1,198 | 3,037 | 573 | 184 | ||||||||||||||||
Year 2006 | 120,322 | 99,243 | 12,055 | 4,312 | 1,148 | 2,755 | 515 | 294 | ||||||||||||||||
Years 2007, 2008 and 2009 | 101,150 | 91,920 | 3,464 | 1,104 | 1,264 | 2,844 | 554 | - | ||||||||||||||||
Years 2010, 2011, 2012 and 2013 | 149,546 | 134,577 | 3,192 | 1,609 | 115 | 974 | 989 | 8,090 | ||||||||||||||||
602,188 | 520,782 | 38,441 | 12,716 | 4,649 | 12,129 | 4,441 | 9,030 | |||||||||||||||||
Non-traditional | 42,102 | 35,168 | 3,217 | 1,162 | - | 1,324 | 833 | 398 | ||||||||||||||||
Loss mitigation program | 86,318 | 7,762 | 1,376 | 149 | 624 | 312 | 1,029 | 75,066 | ||||||||||||||||
730,608 | 563,712 | 43,034 | 14,027 | 5,273 | 13,765 | 6,303 | 84,494 | |||||||||||||||||
Home equity secured personal loans | 736 | 598 | - | - | - | - | 126 | 12 | - | |||||||||||||||
GNMA's buy-back option program | 34,921 | - | - | - | - | 7,670 | 14,425 | 12,826 | - | |||||||||||||||
766,265 | 564,310 | 43,034 | 14,027 | 12,943 | 28,316 | 19,141 | 84,494 | |||||||||||||||||
Consumer | ||||||||||||||||||||||||
Credit cards | 15,241 | 14,555 | 287 | 168 | 118 | 113 | - | - | ||||||||||||||||
Overdrafts | 372 | 322 | 46 | 4 | - | - | - | - | ||||||||||||||||
Unsecured personal lines of credit | 1,981 | 1,844 | 33 | 38 | 25 | 34 | 7 | - | ||||||||||||||||
Unsecured personal loans | 94,560 | 92,102 | 1,272 | 399 | 300 | 39 | 13 | 435 | ||||||||||||||||
Cash collateral personal loans | 15,590 | 15,223 | 324 | 43 | - | - | - | - | ||||||||||||||||
127,744 | 124,046 | 1,962 | 652 | 443 | 186 | 20 | 435 | |||||||||||||||||
Auto and Leasing | 379,874 | 339,817 | 25,532 | 9,437 | 3,397 | 1,691 | - | - | ||||||||||||||||
1,273,883 | 1,028,173 | 70,528 | 24,116 | 16,783 | 30,193 | 19,161 | 84,929 | |||||||||||||||||
Acquired loans (accounted for under ASC 310-20) | ||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||
Credit cards | 52,199 | 46,713 | 2,217 | 1,200 | 828 | 1,241 | - | - | ||||||||||||||||
Personal loans | 3,975 | 3,681 | 196 | 7 | 60 | 31 | - | - | ||||||||||||||||
56,174 | 50,394 | 2,413 | 1,207 | 888 | 1,272 | - | - | |||||||||||||||||
Auto | 301,584 | 283,825 | 12,534 | 3,616 | 1,095 | 514 | - | - | ||||||||||||||||
357,758 | 334,219 | 14,947 | 4,823 | 1,983 | 1,786 | - | - | |||||||||||||||||
Total | $ | 1,631,641 | $ | 1,362,392 | $ | 85,475 | $ | 28,939 | $ | 18,766 | $ | 31,979 | $ | 19,161 | $ | 84,929 | ||||||||
Allowance For Credit Losses On Financing Receivables Covered Loans [Table Text Block] | ' | |||||||||||||||||||||||
The changes in the allowance for loan and lease losses on covered loans for the quarters ended March 31, 2014 and 2013 were as follows: | ||||||||||||||||||||||||
Quarter Ended March 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Balance at beginning of the period | $ | 52,729 | $ | 54,124 | ||||||||||||||||||||
Provision for covered loan and lease losses, net | 1,629 | 672 | ||||||||||||||||||||||
FDIC shared-loss portion of provision for (recapture of) | ||||||||||||||||||||||||
covered loan and lease losses, net | 40 | -1,822 | ||||||||||||||||||||||
Balance at end of the period | $ | 54,398 | $ | 52,974 | ||||||||||||||||||||
Impaired Financing Receivables Covered Loans[Table Text Block] | ' | |||||||||||||||||||||||
The Company's recorded investment in covered loan pools that have recorded impairments and their related allowance for covered loan and lease losses as of March 31, 2014 and December 31, 2013 are as follows | ||||||||||||||||||||||||
31-Mar-14 | ||||||||||||||||||||||||
Unpaid | Recorded | |||||||||||||||||||||||
Principal | Investment | Allowance | Coverage | |||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Impaired covered loan pools: | ||||||||||||||||||||||||
Loans secured by 1-4 family residential properties | $ | 147,597 | $ | 111,410 | $ | 14,221 | 13% | |||||||||||||||||
Construction and development secured by 1-4 family residential properties | 65,747 | 18,254 | 6,866 | 38% | ||||||||||||||||||||
Commercial and other construction | 192,095 | 111,679 | 32,696 | 29% | ||||||||||||||||||||
Consumer | 9,671 | 5,503 | 615 | 11% | ||||||||||||||||||||
Total investment in impaired covered loan pools | $ | 415,110 | $ | 246,846 | $ | 54,398 | 22% | |||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Unpaid | Recorded | Specific | ||||||||||||||||||||||
Principal | Investment | Allowance | Coverage | |||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Impaired covered loan pools with specific allowance | ||||||||||||||||||||||||
Loans secured by 1-4 family residential properties | $ | 52,142 | $ | 38,179 | $ | 12,495 | 33% | |||||||||||||||||
Construction and development secured by 1-4 family residential properties | 66,037 | 17,304 | 6,866 | 40% | ||||||||||||||||||||
Commercial and other construction | 209,566 | 111,946 | 32,753 | 29% | ||||||||||||||||||||
Consumer | 10,512 | 5,857 | 615 | 11% | ||||||||||||||||||||
Total investment in impaired covered loan pools | $ | 338,257 | $ | 173,286 | $ | 52,729 | 30% |
FDIC_Loss_Share_Asset_and_True1
FDIC Loss Share Asset and True-up Payment Obligation (Tables) | 3 Months Ended | |||||
Mar. 31, 2014 | ||||||
Banking and Thrift [Abstract] | ' | |||||
FDIC Indemnification Asset Roll Forward [Table Text Block] | ' | |||||
The following table presents the activity in the FDIC loss share asset and true-up payment obligation for the quarters ended March 31, 2014 and 2013: | ||||||
Quarter Ended March 31, | ||||||
2014 | 2013 | |||||
(In thousands) | ||||||
FDIC share-loss indemnification asset: | ||||||
Balance at beginning of period | $ | 189,240 | $ | 302,295 | ||
Shared-loss agreements reimbursements from the FDIC | -8,236 | -6,650 | ||||
Increase (decrease) in expected credit losses to be covered under shared-loss agreements, net | 40 | -1,822 | ||||
FDIC shared-loss expense | -17,622 | -12,201 | ||||
Incurred expenses to be reimbursed under shared-loss agreements | 2,772 | 1,502 | ||||
Balance at end of period | $ | 166,194 | $ | 283,124 | ||
True-up payment obligation: | ||||||
Balance at beginning of period | $ | 18,510 | $ | 15,496 | ||
FDIC shared-loss expense | 865 | 670 | ||||
Balance at end of period | $ | 19,375 | $ | 16,166 |
Derivative_Activities_Tables
Derivative Activities (Tables) | 3 Months Ended | |||||||||||||
Mar. 31, 2014 | ||||||||||||||
Derivative Instrument Detail [Abstract] | ' | |||||||||||||
Schedule Of Derivative Instruments Text Block | ' | |||||||||||||
The following table details “Derivative Assets” and “Derivative Liabilities” as reflected in the unaudited consolidated statements of financial condition at March 31, 2014 and December 31, 2013: | ||||||||||||||
March 31, | December 31, | |||||||||||||
2014 | 2013 | |||||||||||||
(In thousands) | ||||||||||||||
Derivative assets: | ||||||||||||||
Options tied to S&P 500 Index | $ | 12,555 | $ | 16,430 | ||||||||||
Interest rate swaps designated as cash flow hedges | 166 | 850 | ||||||||||||
Interest rate swaps not designated as hedges | 2,755 | 2,861 | ||||||||||||
Interest rate caps | 374 | 319 | ||||||||||||
Other | 11 | 42 | ||||||||||||
$ | 15,861 | $ | 20,502 | |||||||||||
Derivative liabilities: | ||||||||||||||
Interest rate swaps designated as cash flow hedges | 10,695 | 11,757 | ||||||||||||
Interest rate swaps not designated as hedges | 2,755 | 2,861 | ||||||||||||
Interest rate caps | 374 | 319 | ||||||||||||
Other | 6 | - | ||||||||||||
$ | 13,830 | $ | 14,937 | |||||||||||
The following table shows a summary of these swaps and their terms at March 31, 2014: | ||||||||||||||
Notional | Fixed | Variable | Trade | Settlement | Maturity | |||||||||
Type | Amount | Rate | Rate Index | Date | Date | Date | ||||||||
(In thousands) | ||||||||||||||
Interest Rate Swaps | $ | 25,000 | 2.44% | 1-Month LIBOR | 5/5/11 | 5/4/12 | 5/4/16 | |||||||
25,000 | 2.62% | 1-Month LIBOR | 5/5/11 | 7/24/12 | 7/24/16 | |||||||||
25,000 | 2.64% | 1-Month LIBOR | 5/5/11 | 7/30/12 | 7/30/16 | |||||||||
50,000 | 2.66% | 1-Month LIBOR | 5/5/11 | 8/10/12 | 8/10/16 | |||||||||
100,000 | 2.68% | 1-Month LIBOR | 5/5/11 | 8/16/12 | 8/16/16 | |||||||||
40,277 | 2.42% | 1-Month LIBOR | 7/3/13 | 7/3/13 | 8/1/23 | |||||||||
$ | 265,277 | |||||||||||||
Notional | Fixed | Variable | Settlement | Maturity | ||||||||||
Type | Amount | Rate | Rate Index | Date | Date | |||||||||
(In thousands) | ||||||||||||||
Interest Rate Swaps - Derivatives Offered to Clients | $ | 4,094 | 5.13% | 1-Month LIBOR | 7/3/06 | 7/3/16 | ||||||||
12,500 | 5.51% | 1-Month LIBOR | 4/11/09 | 4/11/19 | ||||||||||
$ | 16,594 | |||||||||||||
Interest Rate Swaps - Mirror Image Derivatives | $ | 4,094 | 5.13% | 1-Month LIBOR | 7/3/06 | 7/3/16 | ||||||||
12,500 | 5.51% | 1-Month LIBOR | 4/11/09 | 4/11/19 | ||||||||||
$ | 16,594 |
Accrued_Interest_Receivable_an1
Accrued Interest Receivable and Other Assets (Tables) | 3 Months Ended | |||||
Mar. 31, 2014 | ||||||
Other asset | ' | |||||
Schedule of Accrued interest receivable [Table Text Block] | ' | |||||
March 31, | December 31, | |||||
2014 | 2013 | |||||
(In thousands) | ||||||
Non-covered loans | $ | 14,440 | $ | 13,378 | ||
Investments | 4,529 | 5,356 | ||||
$ | 18,969 | $ | 18,734 | |||
Schedule of Other Assets [Table Text Block] | ' | |||||
Other assets at March 31, 2014 and December 31, 2013 consist of the following | ||||||
March 31, | December 31, | |||||
2014 | 2013 | |||||
(In thousands) | ||||||
Prepaid expenses | $ | 15,531 | $ | 15,439 | ||
Core deposit and customer relationship intangibles | 11,370 | 11,912 | ||||
Other repossessed assets | 13,964 | 12,583 | ||||
Mortgage tax credits | 8,706 | 8,706 | ||||
Investment in Statutory Trust | 1,083 | 1,083 | ||||
Accounts receivable and other assets | 43,689 | 48,717 | ||||
$ | 94,343 | $ | 98,440 |
Deposits_and_Related_Interest_
Deposits and Related Interest (Tables) | 3 Months Ended | ||||||
Mar. 31, 2014 | |||||||
Deposits, by Component, Alternative [Abstract] | ' | ||||||
Deposits By Component [Table Text Block] | ' | ||||||
Total deposits as of March 31, 2014 and December 31, 2013 consist of the following: | |||||||
March 31, | December 31, | ||||||
2014 | 2013 | ||||||
(In thousands) | |||||||
Non-interest bearing demand deposits | $ | 755,909 | $ | 550,302 | |||
Interest-bearing savings and demand deposits | 2,604,664 | 2,683,996 | |||||
Individual retirement accounts | 338,719 | 347,262 | |||||
Retail certificates of deposit | 556,928 | 598,367 | |||||
Institutional certificates of deposit | 331,859 | 375,224 | |||||
Total core deposits | 4,588,079 | 4,555,151 | |||||
Brokered deposits | 712,913 | 828,114 | |||||
Total deposits | $ | 5,300,992 | $ | 5,383,265 | |||
Interest Expense Domestic Deposit Liabilities [Table Text Block] | ' | ||||||
Interest expense for the quarters ended March 31, 2014 and 2013 was as follows: | |||||||
Quarter Ended March 31, | |||||||
2014 | 2013 | ||||||
(In thousands) | |||||||
Demand and savings deposits | $ | 5,028 | $ | 5,962 | |||
Certificates of deposit | 3,950 | 3,973 | |||||
$ | 8,978 | $ | 9,935 | ||||
Maturities Of Time Deposits [Table Text Block] | ' | ||||||
Excluding equity indexed options in the amount of $11.1 million, which are used by the Company to manage its exposure to the S&P 500 Index, and also excluding accrued interests of $1.7 million and unamortized deposit discount in the amount of $3.3 million, the scheduled maturities of certificates of deposit at March 31, 2014 are as follows: | |||||||
31-Mar-14 | |||||||
(In thousands) | |||||||
Within one year: | |||||||
Three (3) months or less | $ | 303,340 | |||||
Over 3 months through 1 year | 780,260 | ||||||
1,083,600 | |||||||
Over 1 through 2 years | 351,142 | ||||||
Over 2 through 3 years | 257,750 | ||||||
Over 3 through 4 years | 84,607 | ||||||
Over 4 through 5 years | 52,029 | ||||||
$ | 1,829,128 |
Borrowings_Tables
Borrowings (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Debt Instruments [Abstract] | ' | ||||||||||||||||||||
Schedule Of Repurchase Agreement Counterparty [Table Text Block] | ' | ||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Fair Value of | Fair Value of | ||||||||||||||||||||
Borrowing | Underlying | Borrowing | Underlying | ||||||||||||||||||
Balance | Collateral | Balance | Collateral | ||||||||||||||||||
(In thousands) | |||||||||||||||||||||
JP Morgan Chase Bank NA | 255,000 | 273,834 | 255,000 | 273,250 | |||||||||||||||||
Credit Suisse Securities (USA) LLC | 755,000 | 860,088 | 755,000 | 864,232 | |||||||||||||||||
Deutsche Bank | - | - | 255,000 | 272,053 | |||||||||||||||||
Total | $ | 1,010,000 | $ | 1,133,922 | $ | 1,265,000 | $ | 1,409,535 | |||||||||||||
Schedule of Repurchase Agreement by Maturity [Table text Block] | ' | ||||||||||||||||||||
The following table shows a summary of the Company's repurchase agreements and their terms, excluding accrued interest in the amount of $2.2 million, at March 31, 2014: | |||||||||||||||||||||
Weighted- | |||||||||||||||||||||
Borrowing | Average | Maturity | |||||||||||||||||||
Year of Maturity | Balance | Coupon | Settlement Date | Date | |||||||||||||||||
(In thousands) | |||||||||||||||||||||
2014 | $ | 85,000 | 0.68% | 12/3/12 | 12/3/14 | ||||||||||||||||
85,000 | |||||||||||||||||||||
2015 | 255,000 | 0.84% | 12/10/12 | 6/13/15 | |||||||||||||||||
255,000 | |||||||||||||||||||||
2016 | 170,000 | 1.50% | 12/6/12 | 12/8/16 | |||||||||||||||||
170,000 | |||||||||||||||||||||
2017 | 500,000 | 4.78% | 3/2/07 | 3/2/17 | |||||||||||||||||
$ | 1,010,000 | 2.89% | |||||||||||||||||||
Schedule of Repurchase Agreements [Table] | ' | ||||||||||||||||||||
At March 31, 2014 and December 31, 2013, securities sold under agreements to repurchase (classified by counterparty), excluding accrued interest in the amount of $2.2 million and $2.6 million, respectively, were as follows | |||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||
Market Value of Underlying Collateral | |||||||||||||||||||||
CMOs | Obligations | ||||||||||||||||||||
Weighted | FNMA and | issued by US | of US | ||||||||||||||||||
Repurchase | Average | FHLMC | GNMA | Government | Government | ||||||||||||||||
Liability | Rate | Certificates | Certificates | Sponsored Agencies | Sponsored Agencies | Total | |||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
Over 90 days | 1,010,000 | 2.89% | 1,061,519 | 2,403 | - | 70,000 | 1,133,922 | ||||||||||||||
Total | $ | 1,010,000 | 2.89% | $ | 1,061,519 | $ | 2,403 | $ | - | $ | 70,000 | $ | 1,133,922 | ||||||||
31-Dec-13 | |||||||||||||||||||||
Market Value of Underlying Collateral | |||||||||||||||||||||
CMOs | Obligations | ||||||||||||||||||||
Weighted | FNMA and | issued by US | of US | ||||||||||||||||||
Repurchase | Average | FHLMC | GNMA | Government | Government | ||||||||||||||||
Liability | Rate | Certificates | Certificates | Sponsored Agencies | Sponsored Agencies | Total | |||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
Within 30 days | $ | 255,000 | 0.50% | $ | 216,201 | $ | - | $ | 48,923 | $ | 6,929 | $ | 272,053 | ||||||||
Over 90 days | 1,010,000 | 2.89% | 1,018,632 | 3,000 | 45,100 | 3,720 | 1,070,452 | ||||||||||||||
Total | $ | 1,265,000 | 2.41% | $ | 1,234,833 | $ | 3,000 | $ | 94,023 | $ | 10,649 | $ | 1,342,505 | ||||||||
Federal Home Loan Bank Advances Maturities Summary [Table Text Block] | ' | ||||||||||||||||||||
The following table shows a summary of these advances and their terms, excluding accrued interest in the amount of $327 thousand, at March 31, 2014: | |||||||||||||||||||||
Weighted- | |||||||||||||||||||||
Borrowing | Average | Maturity | |||||||||||||||||||
Year of Maturity | Balance | Coupon | Settlement Date | Date | |||||||||||||||||
(In thousands) | |||||||||||||||||||||
2014 | $ | 25,000 | 0.37% | 3/4/14 | 4/4/14 | ||||||||||||||||
50,000 | 0.39% | 3/10/14 | 4/10/14 | ||||||||||||||||||
100,000 | 0.38% | 3/17/14 | 4/16/14 | ||||||||||||||||||
25,000 | 0.36% | 3/24/14 | 4/24/14 | ||||||||||||||||||
25,000 | 0.36% | 3/31/14 | 4/30/14 | ||||||||||||||||||
40,277 | 0.37% | 3/3/14 | 4/1/14 | ||||||||||||||||||
265,277 | |||||||||||||||||||||
2017 | 4,673 | 1.24% | 4/3/12 | 4/3/17 | |||||||||||||||||
2018 | 30,000 | 2.19% | 1/16/13 | 1/16/18 | |||||||||||||||||
25,000 | 2.18% | 1/16/13 | 1/16/18 | ||||||||||||||||||
55,000 | |||||||||||||||||||||
2020 | 10,413 | 2.59% | 7/19/13 | 7/20/20 | |||||||||||||||||
$ | 335,363 | 0.75% | |||||||||||||||||||
Redemtion Funds [Table Text Block] | ' | ||||||||||||||||||||
Redemption fund | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Redemption fund - March 31, 2014 | $ | 48,575 | |||||||||||||||||||
2014 | 6,700 | ||||||||||||||||||||
2015 | 6,700 | ||||||||||||||||||||
2016 | 5,025 | ||||||||||||||||||||
$ | 67,000 |
Offsetting_of_Financial_Assets
Offsetting of Financial Assets and Liabilities (Tables) | 3 Months Ended | ||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||
Offsetting [Abstract] | ' | ||||||||||||||||||
Offsetting Assets [Table Text Block] | ' | ||||||||||||||||||
31-Mar-14 | |||||||||||||||||||
Gross Amounts Not Offset in the Statement of Financial Condition | |||||||||||||||||||
Gross Amounts | Net Amount of | ||||||||||||||||||
Offset in the | Assets Presented | ||||||||||||||||||
Gross Amount | Statement of | in Statement | Cash | ||||||||||||||||
of Recognized | Financial | of Financial | Financial | Collateral | Net | ||||||||||||||
Assets | Condition | Condition | Instruments | Received | Amount | ||||||||||||||
(In thousands) | |||||||||||||||||||
Derivatives | $ | 15,861 | $ | - | $ | 15,861 | $ | 6,814 | $ | - | $ | 9,047 | |||||||
Total | $ | 15,861 | $ | - | $ | 15,861 | $ | 6,814 | $ | - | $ | 9,047 | |||||||
31-Dec-13 | |||||||||||||||||||
Gross Amounts Not Offset in the Statement of Financial Condition | |||||||||||||||||||
Gross Amounts | Net amount of | ||||||||||||||||||
Offset in the | Assets Presented | ||||||||||||||||||
Gross Amount | Statement of | in Statement | Cash | ||||||||||||||||
of Recognized | Financial | of Financial | Financial | Collateral | Net | ||||||||||||||
Assets | Condition | Condition | Instruments | Received | Amount | ||||||||||||||
(In thousands) | |||||||||||||||||||
Derivatives | $ | 20,502 | $ | - | $ | 20,502 | $ | 2,450 | $ | 6,780 | $ | 11,272 | |||||||
Securities purchased under agreements to resell | 60,000 | - | 60,000 | 64,587 | - | -4,587 | |||||||||||||
Total | $ | 80,502 | $ | - | $ | 80,502 | $ | 67,037 | $ | 6,780 | $ | 6,685 | |||||||
Offsetting Liabilities [Table Text Block] | ' | ||||||||||||||||||
31-Mar-14 | |||||||||||||||||||
Gross Amounts Not Offset in the Statement of Financial Condition | |||||||||||||||||||
Net Amount of | |||||||||||||||||||
Gross Amounts | Liabilities | ||||||||||||||||||
Offset in the | Presented | ||||||||||||||||||
Gross Amount | Statement of | in Statement | Cash | ||||||||||||||||
of Recognized | Financial | of Financial | Financial | Collateral | Net | ||||||||||||||
Liabilities | Condition | Condition | Instruments | Provided | Amount | ||||||||||||||
(In thousands) | |||||||||||||||||||
Derivatives | $ | 25,950 | $ | - | $ | 25,950 | $ | - | $ | 2,980 | $ | 22,970 | |||||||
Securities sold under agreements to repurchase | 1,010,000 | - | 1,010,000 | 1,133,922 | - | -123,922 | |||||||||||||
Total | $ | 1,035,950 | $ | - | $ | 1,035,950 | $ | 1,133,922 | $ | 2,980 | $ | -100,952 | |||||||
31-Dec-13 | |||||||||||||||||||
Gross Amounts Not Offset in the Statement of Financial Condition | |||||||||||||||||||
Net Amount of | |||||||||||||||||||
Gross Amounts | Liabilities | ||||||||||||||||||
Offset in the | Presented | ||||||||||||||||||
Gross Amount | Statement of | in Statement | Cash | ||||||||||||||||
of Recognized | Financial | of Financial | Financial | Collateral | Net | ||||||||||||||
Liabilities | Condition | Condition | Instruments | Provided | Amount | ||||||||||||||
(In thousands) | |||||||||||||||||||
Derivatives | $ | 30,672 | $ | - | $ | 30,672 | $ | - | $ | 2,349 | $ | 28,323 | |||||||
Securities sold under agreements to repurchase | 1,265,000 | - | 1,265,000 | 1,277,919 | 67,029 | -79,948 | |||||||||||||
Total | $ | 1,295,672 | $ | - | $ | 1,295,672 | $ | 1,277,919 | $ | 69,378 | $ | -51,625 |
Related_Party_Transactions_Tab
Related Party Transactions (Tables) | 3 Months Ended | |||||
Mar. 31, 2014 | ||||||
Related Party Transactions [Abstract] | ' | |||||
Schedule of Related Party Transactions [Table Text Block] | ' | |||||
The activity and balance of these loans for the quarters ended March 31, 2014 and 2013 were as follows: | ||||||
Quarter Ended March 31, | ||||||
2014 | 2013 | |||||
(In thousands) | ||||||
Balance at the beginning of year | $ | 18,963 | $ | 3,772 | ||
New loans | - | 2,435 | ||||
Repayments and sales | 304 | -95 | ||||
Credits of persons no longer considered related parties | - | -57 | ||||
Balance at the end of year | $ | 19,267 | $ | 6,055 |
Stockholders_Equity_and_Earnin1
Stockholders' Equity and Earnings per Common Share (Tables) | 3 Months Ended | |||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||
Stockholders' Equity [Abstract] | ' | |||||||||||||||||
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | ' | |||||||||||||||||
The Company's and the Bank's actual capital amounts and ratios as of March 31, 2014 and December 31, 2013 are as follows: | ||||||||||||||||||
Minimum Capital | Minimum to be Well | |||||||||||||||||
Actual | Requirement | Capitalized | ||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||
(Dollars in thousands) | ||||||||||||||||||
Company Ratios | ||||||||||||||||||
As of March 31, 2014 | ||||||||||||||||||
Total capital to risk-weighted assets | $ | 836,168 | 16.56% | $ | 404,054 | 8.00% | $ | 505,067 | 10.00% | |||||||||
Tier 1 capital to risk-weighted assets | $ | 745,619 | 14.76% | $ | 202,027 | 4.00% | $ | 303,040 | 6.00% | |||||||||
Tier 1 capital to average total assets | $ | 745,619 | 9.51% | $ | 313,594 | 4.00% | $ | 391,993 | 5.00% | |||||||||
As of December 31, 2013 | ||||||||||||||||||
Total capital to risk-weighted assets | $ | 827,460 | 16.16% | $ | 409,514 | 8.00% | $ | 511,893 | 10.00% | |||||||||
Tier 1 capital to risk-weighted assets | $ | 736,930 | 14.35% | $ | 204,757 | 4.00% | $ | 307,136 | 6.00% | |||||||||
Tier 1 capital to average total assets | $ | 736,930 | 9.11% | $ | 324,910 | 4.00% | $ | 406,138 | 5.00% | |||||||||
Minimum Capital | Minimum to be Well | |||||||||||||||||
Actual | Requirement | Capitalized | ||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||
(Dollars in thousands) | ||||||||||||||||||
Bank Ratios | ||||||||||||||||||
As of March 31, 2014 | ||||||||||||||||||
Total capital to risk-weighted assets | $ | 805,900 | 16.02% | $ | 402,495 | 8.00% | $ | 503,119 | 10.00% | |||||||||
Tier 1 capital to risk-weighted assets | $ | 715,591 | 14.22% | $ | 201,248 | 4.00% | $ | 301,871 | 6.00% | |||||||||
Tier 1 capital to average total assets | $ | 715,591 | 9.18% | $ | 311,659 | 4.00% | $ | 389,574 | 5.00% | |||||||||
As of December 31, 2013 | ||||||||||||||||||
Total capital to risk-weighted assets | $ | 779,413 | 15.30% | $ | 407,637 | 8.00% | $ | 509,547 | 10.00% | |||||||||
Tier 1 capital to risk-weighted assets | $ | 688,350 | 13.51% | $ | 203,819 | 4.00% | $ | 305,728 | 6.00% | |||||||||
Tier 1 capital to average total assets | $ | 688,350 | 8.54% | $ | 322,395 | 4.00% | $ | 402,993 | 5.00% | |||||||||
Schedule of Treasury Stock by Class [Table Text Block] | ' | |||||||||||||||||
The following table presents the shares repurchased for each month in the quarter ended March 31, 2014, excluding the month ended March 31, 2014, during which no shares were purchased as part of the stock repurchase program: | ||||||||||||||||||
Total number of | Dollar amount of | |||||||||||||||||
shares purchased as | Average | shares repurchased | ||||||||||||||||
part of stock | price paid | (excluding | ||||||||||||||||
repurchase programs | per share | commissions paid) | ||||||||||||||||
(In thousands) | ||||||||||||||||||
Period | ||||||||||||||||||
Jan-14 | 57,700 | $ | 14.73 | $ | 850 | |||||||||||||
Feb-14 | 649,700 | $ | 14.66 | $ | 9,522 | |||||||||||||
Quarter ended March 31, 2014 | 707,400 | 14.66 | 10,372 | |||||||||||||||
The activity in connection with common shares held in treasury by the Company for quarters ended March 31, 2014 and 2013 is set forth below | ||||||||||||||||||
Quarter Ended March 31, | ||||||||||||||||||
2014 | 2013 | |||||||||||||||||
Dollar | Dollar | |||||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||||
(In thousands, except shares data) | ||||||||||||||||||
Beginning of year | 7,030,101 | $ | 80,642 | 7,090,597 | $ | 81,275 | ||||||||||||
Common shares used upon lapse of restricted stock units | -27,752 | -292 | -33,600 | -351 | ||||||||||||||
Common shares repurchased as part of the stock repurchase program | 707,400 | 10,393 | - | - | ||||||||||||||
Common shares used to match defined contribution plan, net | - | - | -7,318 | -77 | ||||||||||||||
End of year | 7,709,749 | $ | 90,743 | 7,049,679 | $ | 80,847 | ||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | |||||||||||||||||
The calculation of earnings per common share for the quarters ended March 31, 2014 and 2013 is as follows: | ||||||||||||||||||
Quarter Ended March 31, | ||||||||||||||||||
2014 | 2013 | |||||||||||||||||
(In thousands, except per share data) | ||||||||||||||||||
Net income | $ | 23,747 | $ | 21,192 | ||||||||||||||
Less: Dividends on preferred stock | ||||||||||||||||||
Non-Convertible Preferred Stock (Series A, B, and D) | -1,628 | -1,628 | ||||||||||||||||
Convertible preferred stock (Series C) | -1,837 | -1,837 | ||||||||||||||||
Income available to common shareholders | $ | 20,282 | $ | 17,727 | ||||||||||||||
Effect of assumed conversion of the Convertible Preferred Stock | 1,837 | 1,837 | ||||||||||||||||
Income available to common shareholders assuming conversion | $ | 22,119 | $ | 19,564 | ||||||||||||||
Weighted average common shares and share equivalents: | ||||||||||||||||||
Average common shares outstanding | 45,329 | 45,595 | ||||||||||||||||
Effect of dilutive securities: | ||||||||||||||||||
Average potential common shares-options | 131 | 159 | ||||||||||||||||
Average potential common shares-assuming conversion of ' ' convertible preferred stock | 7,138 | 7,138 | ||||||||||||||||
Total weighted average common shares outstanding ' 'and equivalents | 52,598 | 52,892 | ||||||||||||||||
Earnings per common share - basic | $ | 0.45 | $ | 0.39 | ||||||||||||||
Earnings per common share - diluted | $ | 0.42 | $ | 0.37 | ||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) | ' | |||||||||||||||||
March 31, | December 31, | |||||||||||||||||
2014 | 2013 | |||||||||||||||||
(In thousands) | ||||||||||||||||||
Unrealized gain on securities available-for-sale which are not other-than-temporarily impaired | $ | 18,464 | $ | 13,267 | ||||||||||||||
Income tax effect of unrealized gain on securities available-for-sale | -2,429 | -1,834 | ||||||||||||||||
Net unrealized gain on securities available-for-sale which are not other-than-temporarily impaired | 16,035 | 11,433 | ||||||||||||||||
Unrealized loss on cash flow hedges | -10,529 | -10,907 | ||||||||||||||||
Income tax effect of unrealized loss on cash flow hedges | 2,516 | 2,665 | ||||||||||||||||
Net unrealized loss on cash flow hedges | -8,013 | -8,242 | ||||||||||||||||
Accumulated other comprehensive income, net of taxes | $ | 8,022 | $ | 3,191 | ||||||||||||||
The following table presents changes in accumulated other comprehensive income by component, net of taxes, for the quarters ended March 31, 2014 and 2013: | ||||||||||||||||||
Quarter Ended March 31, | ||||||||||||||||||
2014 | 2013 | |||||||||||||||||
Net unrealized | Net unrealized | Accumulated | Net unrealized | Net unrealized | Accumulated | |||||||||||||
gains on | loss on | other | gains on | loss on | other | |||||||||||||
securities | cash flow | comprehensive | securities | cash flow | comprehensive | |||||||||||||
available-for-sale | hedges | income | available-for-sale | hedges | income | |||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||
Beginning balance | $ | 11,433 | $ | -8,242 | $ | 3,191 | $ | 68,245 | $ | -12,365 | $ | 55,880 | ||||||
Other comprehensive income before reclassifications | 4,465 | -1,392 | 3,073 | -9,899 | -313 | -10,212 | ||||||||||||
Amounts reclassified out of accumulated other comprehensive income | 137 | 1,621 | 1,758 | 47 | 1,336 | 1,383 | ||||||||||||
Other comprehensive income (loss) | 4,602 | 229 | 4,831 | -9,852 | 1,023 | -8,829 | ||||||||||||
Ending balance | $ | 16,035 | $ | -8,013 | $ | 8,022 | $ | 58,393 | $ | -11,342 | $ | 47,051 | ||||||
Reclassification out of Accumulated Other Comprehensive Income [Table text block] | ' | |||||||||||||||||
Affected Line Item in | ||||||||||||||||||
Quarter ended March 31, | Consolidated Statement | |||||||||||||||||
2014 | 2013 | of Operations | ||||||||||||||||
(In thousands) | ||||||||||||||||||
Cash flow hedges: | ||||||||||||||||||
Interest-rate contracts | $ | 1,621 | $ | 1,336 | Net interest expense | |||||||||||||
Available-for-sale securities: | ||||||||||||||||||
Residual tax effect from OIB's change in applicable tax rate | 137 | 47 | Income tax expense | |||||||||||||||
$ | 1,758 | $ | 1,383 |
Guarantees_Tables
Guarantees (Tables) | 3 Months Ended | |||||
Mar. 31, 2014 | ||||||
Guarantees [Abstract] | ' | |||||
Schedule Of Guarantee Obligations Text Block | ' | |||||
Quarter Ended March 31, | ||||||
2014 | 2013 | |||||
(In thousands) | ||||||
Balance at beginning of year | $ | 1,955 | $ | - | ||
Additions from BBVAPR Acquisition | - | 2,460 | ||||
Net charge-offs/terminations | -406 | - | ||||
Balance at end of year | $ | 1,549 | $ | 2,460 | ||
Summarized credit-related financial instruments at March 31, 2014 and December 31, 2013 were as follows: |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 3 Months Ended | |||||
Mar. 31, 2014 | ||||||
Commitments and Contingencies [Abstract] | ' | |||||
Schedule Of Fair Value Off Balance Sheet Risks Text Block | ' | |||||
March 31, | December 31, | |||||
2014 | 2013 | |||||
(In thousands) | ||||||
Commitments to extend credit | $ | 494,327 | $ | 520,269 | ||
Commercial letters of credit | 1,740 | 1,096 | ||||
March 31, | December 31, | |||||
2014 | 2013 | |||||
(In thousands) | ||||||
Standby letters of credit and financial guarantees | $ | 38,875 | $ | 38,577 | ||
Loans sold with recourse | 118,163 | 122,291 | ||||
Commitments to sell or securitize mortgage loans | 34,220 | 99,307 | ||||
Operating Leases, Future Minimum Payments Due [Abstract] | ' | |||||
Contractual Obligation Fiscal Year Maturity Schedule [Table Text Block] | ' | |||||
Quarter Ending March 31, | Minimum Rent | |||||
(In thousands) | ||||||
2014 | $ | 6,170 | ||||
2015 | 8,013 | |||||
2016 | 7,388 | |||||
2017 | 6,761 | |||||
2018 | 5,864 | |||||
Thereafter | 22,004 | |||||
$ | 56,200 |
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract] | ' | ||||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis 1 [Table Text Block] | ' | ||||||||||||||||||||
Assets and liabilities measured at fair value on a recurring and non-recurring basis, including financial liabilities for which the Company has elected the fair value option, are summarized below: | |||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Recurring fair value measurements: | |||||||||||||||||||||
Investment securities available-for-sale | $ | - | $ | 1,435,632 | $ | 20,053 | $ | 1,455,685 | |||||||||||||
Money market investments | 7,652 | - | - | 7,652 | |||||||||||||||||
Derivative assets | - | 3,306 | 12,555 | 15,861 | |||||||||||||||||
Servicing assets | - | - | 13,970 | 13,970 | |||||||||||||||||
Derivative liabilities | - | -13,830 | -12,120 | -25,950 | |||||||||||||||||
$ | 7,652 | $ | 1,425,108 | $ | 34,458 | $ | 1,467,218 | ||||||||||||||
Non-recurring fair value measurements: | |||||||||||||||||||||
Impaired commercial loans | $ | - | $ | - | $ | 27,975 | $ | 27,975 | |||||||||||||
Foreclosed real estate | - | - | 96,884 | 96,884 | |||||||||||||||||
$ | - | $ | - | $ | 124,859 | $ | 124,859 | ||||||||||||||
31-Dec-13 | |||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Recurring fair value measurements: | |||||||||||||||||||||
Investment securities available-for-sale | $ | - | $ | 1,568,745 | $ | 19,680 | $ | 1,588,425 | |||||||||||||
Securities purchased under agreements to resell | - | 60,000 | - | 60,000 | |||||||||||||||||
Money market investments | 6,967 | - | - | 6,967 | |||||||||||||||||
Derivative assets | - | 4,072 | 16,430 | 20,502 | |||||||||||||||||
Servicing assets | - | - | 13,801 | 13,801 | |||||||||||||||||
Derivative liabilities | - | -14,937 | -15,736 | -30,673 | |||||||||||||||||
$ | 6,967 | $ | 1,617,880 | $ | 34,175 | $ | 1,659,022 | ||||||||||||||
Non-recurring fair value measurements: | |||||||||||||||||||||
Impaired commercial loans | $ | - | $ | - | $ | 28,353 | $ | 28,353 | |||||||||||||
Foreclosed real estate | - | - | 90,024 | 90,024 | |||||||||||||||||
$ | - | $ | - | $ | 118,377 | $ | 118,377 | ||||||||||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Table Text Block] | ' | ||||||||||||||||||||
The table below presents a reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the quarters ended March 31, 2014 and 2013: | |||||||||||||||||||||
Quarter Ended March 31, 2014 | |||||||||||||||||||||
Derivative | Derivative | ||||||||||||||||||||
Other | asset | liability | |||||||||||||||||||
debt | (S&P | (S&P | |||||||||||||||||||
securities | Purchased | Servicing | Embedded | ||||||||||||||||||
Level 3 Instruments Only | available-for-sale | Options) | assets | Options) | Total | ||||||||||||||||
(In thousands) | |||||||||||||||||||||
Balance at beginning of year | $ | 19,680 | $ | 16,430 | $ | 13,801 | $ | -15,736 | $ | 34,175 | |||||||||||
Gains (losses) included in earnings | - | -3,875 | - | 3,373 | -502 | ||||||||||||||||
Changes in fair value of investment securities available for sale included in other comprehensive income | 373 | - | - | - | 373 | ||||||||||||||||
New instruments acquired | - | - | 563 | - | 563 | ||||||||||||||||
Principal repayments | - | - | -196 | - | -196 | ||||||||||||||||
Amortization | - | - | - | 243 | 243 | ||||||||||||||||
Changes in fair value of servicing assets | - | - | -198 | - | -198 | ||||||||||||||||
Balance at end of year | $ | 20,053 | $ | 12,555 | $ | 13,970 | $ | -12,120 | $ | 34,458 | |||||||||||
Quarter Ended March 31, 2013 | |||||||||||||||||||||
Investment securities | |||||||||||||||||||||
available-for-sale | |||||||||||||||||||||
Derivative | Derivative | ||||||||||||||||||||
asset | liability | ||||||||||||||||||||
Other | (S&P | (S&P | |||||||||||||||||||
debt | Purchased | Servicing | Embedded | ||||||||||||||||||
Level 3 Instruments Only | CLOs | securities | Options) | assets | Options) | Total | |||||||||||||||
Balance at beginning of period | $ | 27,280 | $ | 10,016 | $ | 11,367 | $ | 10,776 | $ | -10,912 | $ | 48,527 | |||||||||
Gains (losses) included in earnings | - | - | 1,721 | - | -1,707 | 14 | |||||||||||||||
Changes in fair value of investment securities available for sale included in other comprehensive income | 1,705 | 1 | - | - | - | 1,706 | |||||||||||||||
New instruments acquired | - | - | - | 487 | - | 487 | |||||||||||||||
Principal repayments | - | - | - | -307 | - | -307 | |||||||||||||||
Amortization | 17 | - | - | - | 50 | 67 | |||||||||||||||
Changes in fair value of servicing assets | - | - | - | -314 | - | -314 | |||||||||||||||
Balance at end of period | $ | 29,002 | $ | 10,017 | $ | 13,088 | $ | 10,642 | $ | -12,569 | $ | 50,180 | |||||||||
31-Mar-14 | |||||||||||||||||||||
Fair Value | Valuation Technique | Unobservable Input | Range | ||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Investment securities available-for-sale: | |||||||||||||||||||||
Other debt securities | $ | 20,053 | Market comparable bonds | Indicative pricing | 97.125% - 98.975% | ||||||||||||||||
Option adjusted spread | 683.7% - 1602.0% | ||||||||||||||||||||
Yield to maturity | 7.05% - 15.89% | ||||||||||||||||||||
Spread to maturity | 689.9% - 1579.0% | ||||||||||||||||||||
Derivative assets (S&P Purchased Options) | $ | 12,555 | Option pricing model | Implied option volatility | 22.887% - 53.615% | ||||||||||||||||
Counterparty credit risk (based on 5-year credit default swap ("CDS") spread) | 56.360% - 86.490% | ||||||||||||||||||||
Servicing assets | $ | 13,970 | Cash flow valuation | Constant prepayment rate | 5.60% - 10.08% | ||||||||||||||||
Discount rate | 10.00% - 12.00% | ||||||||||||||||||||
Derivative liability (S&P Embedded Options) | $ | -12,120 | Option pricing model | Implied option volatility | 22.887% - 53.615% | ||||||||||||||||
Counterparty credit risk (based on 5-year CDS spread) | 56.360% - 86.490% | ||||||||||||||||||||
Collateral dependant impaired loans | $ | 27,975 | Fair value of property or collateral | Appraised value less disposition costs | 21.30% - 28.30% | ||||||||||||||||
Available-for-sale Securities Classified As Level 3 [Table Text Block] | ' | ||||||||||||||||||||
The table below presents a detail of investment securities available-for-sale classified as Level 3 at March 31, 2014: | |||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||
Weighted | |||||||||||||||||||||
Amortized | Unrealized | Average | Principal | ||||||||||||||||||
Type | Cost | Gains (Losses) | Fair Value | Yield | Protection | ||||||||||||||||
(In thousands) | |||||||||||||||||||||
Other debt securities | $ | 20,000 | $ | 53 | $ | 20,053 | 3.50% | N/A | |||||||||||||
Fair Value By Balance Sheet Grouping [Text Block] | ' | ||||||||||||||||||||
The estimated fair value and carrying value of the Company's financial instruments at March 31, 2014 and December 31, 2013 is as follows: | |||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Fair | Carrying | Fair | Carrying | ||||||||||||||||||
Value | Value | Value | Value | ||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Level 1 | |||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 624,636 | $ | 624,636 | $ | 621,269 | $ | 621,269 | |||||||||||||
Restricted cash | 15,170 | 15,170 | 82,199 | 82,199 | |||||||||||||||||
Level 2 | |||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Securities purchased under agreements to resell | - | - | 60,000 | 60,000 | |||||||||||||||||
Trading securities | 1,910 | 1,910 | 1,869 | 1,869 | |||||||||||||||||
Investment securities available-for-sale | 1,435,632 | 1,435,632 | 1,568,745 | 1,568,745 | |||||||||||||||||
Federal Home Loan Bank (FHLB) stock | 24,430 | 24,430 | 24,450 | 24,450 | |||||||||||||||||
Derivative assets | 3,306 | 3,306 | 4,072 | 4,072 | |||||||||||||||||
Derivative liabilities | 13,830 | 13,830 | 14,937 | 14,937 | |||||||||||||||||
Level 3 | |||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Investment securities available-for-sale | 20,053 | 20,053 | 19,680 | 19,680 | |||||||||||||||||
Total loans (including loans held-for-sale) | |||||||||||||||||||||
Non-covered loans, net | 4,737,604 | 4,654,749 | 4,857,505 | 4,662,458 | |||||||||||||||||
Covered loans, net | 400,355 | 347,865 | 459,444 | 356,961 | |||||||||||||||||
Derivative assets | 12,555 | 12,555 | 16,430 | 16,430 | |||||||||||||||||
FDIC shared-loss indemnification asset | 106,170 | 166,194 | 152,965 | 189,240 | |||||||||||||||||
Accrued interest receivable | 18,969 | 18,969 | 18,734 | 18,734 | |||||||||||||||||
Servicing assets | 13,970 | 13,970 | 13,801 | 13,801 | |||||||||||||||||
Financial Liabilities: | |||||||||||||||||||||
Deposits | 5,247,226 | 5,300,992 | 5,409,540 | 5,383,265 | |||||||||||||||||
Securities sold under agreements to repurchase | 1,076,000 | 1,012,240 | 1,323,903 | 1,267,618 | |||||||||||||||||
Advances from FHLB | 340,805 | 335,689 | 335,324 | 336,143 | |||||||||||||||||
Federal funds purchased | 23,712 | 23,712 | - | - | |||||||||||||||||
Term notes | 3,583 | 3,708 | 3,638 | 3,663 | |||||||||||||||||
Subordinated capital notes | 87,240 | 100,404 | 99,316 | 100,010 | |||||||||||||||||
Accrued expenses and other liabilities | 140,037 | 140,037 | 144,424 | 144,424 |
Business_Segments_Tables
Business Segments (Tables) | 3 Months Ended | |||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | |||||||||||||||||
Following are the results of operations and the selected financial information by operating segment as of and for the quarters ended March 31, 2014 and 2013: | ||||||||||||||||||
Quarter Ended March 31, 2014 | ||||||||||||||||||
Wealth | Total Major | Consolidated | ||||||||||||||||
Banking | Management | Treasury | Segments | Eliminations | Total | |||||||||||||
(In thousands) | ||||||||||||||||||
Interest income | $ | 108,631 | $ | 40 | $ | 14,403 | $ | 123,074 | $ | - | $ | 123,074 | ||||||
Interest expense | -7,516 | - | -12,160 | -19,676 | - | -19,676 | ||||||||||||
Net interest income | 101,115 | 40 | 2,243 | 103,398 | - | 103,398 | ||||||||||||
Provision for non-covered loan and lease losses | -10,062 | - | - | -10,062 | - | -10,062 | ||||||||||||
Provision for covered loan and lease losses | -1,629 | - | - | -1,629 | - | -1,629 | ||||||||||||
Non-interest income (loss) | -5,047 | 6,522 | 3,803 | 5,278 | - | 5,278 | ||||||||||||
Non-interest expenses | -53,596 | -4,779 | -3,078 | -61,453 | - | -61,453 | ||||||||||||
Intersegment revenue | 544 | - | - | 544 | -544 | - | ||||||||||||
Intersegment expenses | - | -432 | -112 | -544 | 544 | - | ||||||||||||
Income before income taxes | $ | 31,325 | $ | 1,351 | $ | 2,856 | $ | 35,532 | $ | - | $ | 35,532 | ||||||
Total assets | $ | 7,351,839 | $ | 24,345 | $ | 1,643,569 | $ | 9,019,753 | $ | -1,164,115 | $ | 7,855,638 | ||||||
Quarter Ended March 31, 2013 | ||||||||||||||||||
Wealth | Total Major | Consolidated | ||||||||||||||||
Banking | Management | Treasury | Segments | Eliminations | Total | |||||||||||||
(In thousands) | ||||||||||||||||||
Interest income | $ | 102,068 | $ | 86 | $ | 12,018 | $ | 114,172 | $ | - | $ | 114,172 | ||||||
Interest expense | -6,971 | -60 | -13,525 | -20,556 | - | -20,556 | ||||||||||||
Net interest income | 95,097 | 26 | -1,507 | 93,616 | - | 93,616 | ||||||||||||
Provision for non-covered loan and lease losses | -7,916 | - | - | -7,916 | - | -7,916 | ||||||||||||
Provision for covered loan and lease losses, net | -672 | - | - | -672 | - | -672 | ||||||||||||
Non-interest income(loss) | 2,537 | 7,700 | -138 | 10,099 | - | 10,099 | ||||||||||||
Non-interest expenses | -61,932 | -4,462 | -415 | -66,809 | - | -66,809 | ||||||||||||
Intersegment revenue | 383 | - | - | 383 | -383 | - | ||||||||||||
Intersegment expenses | - | -302 | -81 | -383 | 383 | - | ||||||||||||
Income before income taxes | $ | 27,497 | $ | 2,962 | $ | -2,141 | $ | 28,318 | $ | - | $ | 28,318 | ||||||
Total assets | $ | 6,989,744 | $ | 39,511 | $ | 2,539,649 | $ | 9,568,904 | $ | -866,353 | $ | 8,702,551 |
Restricted_Cash_Composition_De
Restricted Cash (Composition) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Restricted cash components by secured investment type | ' | ' |
Deposit pledged as collateral | $15,170 | $82,199 |
Securities sold under agreements to repurchase secured with cash or equivalents [Member] | ' | ' |
Restricted cash components by secured investment type | ' | ' |
Deposit pledged as collateral | 0 | 67,029 |
Derivative | ' | ' |
Restricted cash components by secured investment type | ' | ' |
Deposit pledged as collateral | 2,980 | 2,980 |
Residential Loans Sold with Recourse [Member] | ' | ' |
Restricted cash components by secured investment type | ' | ' |
Deposit pledged as collateral | $12,190 | $12,190 |
Securities_Purchased_Under_Agr2
Securities Purchased Under Agreements to Resell and Investment (Narrative) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Investments, Debt and Equity Securities [Abstract] | ' | ' |
Fair value of securities held as collateral | ' | $64.60 |
Puerto Rico Government obligation with mandatory tender offer | 98.7 | ' |
Investments Guaranteed by US Treasury and Sponsored Agencies in Unrealized Loss on Position | 404.4 | ' |
Investments Guaranteed by Puerto Rico Government and its Political Subdivisions in Unrealized Loss On Position | $22.40 | ' |
Investments Guaranteed By Us Treasury And Sponsored Agencies in Unrealized Loss Position Percentage To Total Investment in Unrealized Loss Position | 95.00% | ' |
Investments Guaranteed By Puerto Rico Government and Its Political Subdivisions in Unrealized Loss Position Percentage To Total Investment in Unrealized Loss Position | 5.00% | ' |
Securities_Purchased_Under_Agr3
Securities Purchased Under Agreements to Resell and Investment (Investment securities) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | $1,437,106 | $1,575,043 |
Available-for-sale Securities, Gross Unrealized Gains | 32,771 | 34,096 |
Available-for-sale Securities, Gross Unrealized Losses | 14,192 | 20,714 |
Available-for-sale Securities | 1,455,685 | 1,588,425 |
Available for sale - Weighted Average Yield | 2.74% | 2.89% |
Collateralized Mortgage Backed Securities [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 1,311,171 | 1,419,117 |
Available-for-sale Securities, Gross Unrealized Gains | 32,546 | 33,929 |
Available-for-sale Securities, Gross Unrealized Losses | 8,852 | 13,507 |
Available-for-sale Securities | 1,334,865 | 1,439,539 |
Available for sale - Weighted Average Yield | 2.84% | 2.76% |
Collateralized Mortgage Backed Securities [Member] | FNMA and FHLMC [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 1,093,717 | 1,190,910 |
Available-for-sale Securities, Gross Unrealized Gains | 31,769 | 33,089 |
Available-for-sale Securities, Gross Unrealized Losses | 4,690 | 6,669 |
Available-for-sale Securities | 1,120,796 | 1,217,330 |
Available for sale - Weighted Average Yield | 3.00% | 2.93% |
Collateralized Mortgage Backed Securities [Member] | GNMA [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 6,146 | 7,406 |
Available-for-sale Securities, Gross Unrealized Gains | 426 | 433 |
Available-for-sale Securities, Gross Unrealized Losses | 23 | 24 |
Available-for-sale Securities | 6,549 | 7,815 |
Available for sale - Weighted Average Yield | 4.93% | 4.92% |
Collateralized Mortgage Backed Securities [Member] | CMO's [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 211,308 | 220,801 |
Available-for-sale Securities, Gross Unrealized Gains | 351 | 407 |
Available-for-sale Securities, Gross Unrealized Losses | 4,139 | 6,814 |
Available-for-sale Securities | 207,520 | 214,394 |
Available for sale - Weighted Average Yield | 1.78% | 1.78% |
Securities Investment [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 125,935 | 155,926 |
Available-for-sale Securities, Gross Unrealized Gains | 225 | 167 |
Available-for-sale Securities, Gross Unrealized Losses | 5,340 | 7,207 |
Available-for-sale Securities | 120,820 | 148,886 |
Available for sale - Weighted Average Yield | 1.72% | 2.99% |
Securities Investment [Member] | US Treasury Securities [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 70,000 | ' |
Available-for-sale Securities, Gross Unrealized Gains | 0 | ' |
Available-for-sale Securities, Gross Unrealized Losses | 0 | ' |
Available-for-sale Securities | 70,000 | ' |
Available for sale - Weighted Average Yield | 0.03% | ' |
Securities Investment [Member] | Obligation of US Government sponsored agencies [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 9,539 | 10,691 |
Available-for-sale Securities, Gross Unrealized Gains | 0 | 0 |
Available-for-sale Securities, Gross Unrealized Losses | 42 | 42 |
Available-for-sale Securities | 9,497 | 10,649 |
Available for sale - Weighted Average Yield | 1.23% | 1.21% |
Securities Investment [Member] | Obligation of Puerto Rico Government and political subdivisions [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 22,367 | 121,035 |
Available-for-sale Securities, Gross Unrealized Gains | 0 | 0 |
Available-for-sale Securities, Gross Unrealized Losses | 5,298 | 6,845 |
Available-for-sale Securities | 17,069 | 114,190 |
Available for sale - Weighted Average Yield | 5.32% | 4.38% |
Securities Investment [Member] | Other Debt Obligations [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 24,029 | 24,200 |
Available-for-sale Securities, Gross Unrealized Gains | 225 | 167 |
Available-for-sale Securities, Gross Unrealized Losses | 0 | 320 |
Available-for-sale Securities | $24,254 | $24,047 |
Available for sale - Weighted Average Yield | 3.46% | 3.46% |
Securities_Purchased_Under_Agr4
Securities Purchased Under Agreements to Resell and Investment (Investment securities by contractual maturity) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | $1,437,106 | $1,575,043 |
Available-for-sale Securities | 1,455,685 | 1,588,425 |
Collateralized Mortgage Backed Securities [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 1,311,171 | 1,419,117 |
Available-for-sale Securities | 1,334,865 | 1,439,539 |
Collateralized Mortgage Backed Securities [Member] | FNMA and FHLMC [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 1,093,717 | 1,190,910 |
Available-for-sale Securities | 1,120,796 | 1,217,330 |
Collateralized Mortgage Backed Securities [Member] | GNMA [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 6,146 | 7,406 |
Available-for-sale Securities | 6,549 | 7,815 |
Collateralized Mortgage Backed Securities [Member] | CMO's [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 211,308 | 220,801 |
Available-for-sale Securities | 207,520 | 214,394 |
Collateralized Mortgage Backed Securities [Member] | Maturities Due From Five To Ten Years [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 26,294 | ' |
Available-for-sale Securities | 26,625 | ' |
Collateralized Mortgage Backed Securities [Member] | Maturities Due From Five To Ten Years [Member] | FNMA and FHLMC [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 26,294 | ' |
Available-for-sale Securities | 26,625 | ' |
Collateralized Mortgage Backed Securities [Member] | Maturities Due After Ten Years [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 1,284,877 | ' |
Available-for-sale Securities | 1,308,240 | ' |
Collateralized Mortgage Backed Securities [Member] | Maturities Due After Ten Years [Member] | FNMA and FHLMC [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 1,067,423 | ' |
Available-for-sale Securities | 1,094,171 | ' |
Collateralized Mortgage Backed Securities [Member] | Maturities Due After Ten Years [Member] | GNMA [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 6,146 | ' |
Available-for-sale Securities | 6,549 | ' |
Collateralized Mortgage Backed Securities [Member] | Maturities Due After Ten Years [Member] | CMO's [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 211,308 | ' |
Available-for-sale Securities | 207,520 | ' |
Securities Investment [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 125,935 | 155,926 |
Available-for-sale Securities | 120,820 | 148,886 |
Securities Investment [Member] | US Treasury Securities [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 70,000 | ' |
Available-for-sale Securities | 70,000 | ' |
Securities Investment [Member] | Obligation of US Government sponsored agencies [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 9,539 | 10,691 |
Available-for-sale Securities | 9,497 | 10,649 |
Securities Investment [Member] | Obligation of Puerto Rico Government and political subdivisions [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 22,367 | 121,035 |
Available-for-sale Securities | 17,069 | 114,190 |
Securities Investment [Member] | Other Debt Obligations [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 24,029 | 24,200 |
Available-for-sale Securities | 24,254 | 24,047 |
Securities Investment [Member] | Maturities Due In Less Than One Year [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 90,000 | ' |
Available-for-sale Securities | 90,053 | ' |
Securities Investment [Member] | Maturities Due In Less Than One Year [Member] | US Treasury Securities [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 70,000 | ' |
Available-for-sale Securities | 70,000 | ' |
Securities Investment [Member] | Maturities Due In Less Than One Year [Member] | Other Debt Obligations [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 20,000 | ' |
Available-for-sale Securities | 20,053 | ' |
Securities Investment [Member] | Maturities Due From One To Five Years [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 11,903 | ' |
Available-for-sale Securities | 9,827 | ' |
Securities Investment [Member] | Maturities Due From One To Five Years [Member] | Obligation of Puerto Rico Government and political subdivisions [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 11,903 | ' |
Available-for-sale Securities | 9,827 | ' |
Securities Investment [Member] | Maturities Due From Five To Ten Years [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 9,539 | ' |
Available-for-sale Securities | 9,497 | ' |
Securities Investment [Member] | Maturities Due From Five To Ten Years [Member] | Obligation of US Government sponsored agencies [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 9,539 | ' |
Available-for-sale Securities | 9,497 | ' |
Securities Investment [Member] | Maturities Due After Ten Years [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 14,493 | ' |
Available-for-sale Securities | 11,443 | ' |
Securities Investment [Member] | Maturities Due After Ten Years [Member] | Obligation of Puerto Rico Government and political subdivisions [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 10,464 | ' |
Available-for-sale Securities | 7,242 | ' |
Securities Investment [Member] | Maturities Due After Ten Years [Member] | Other Debt Obligations [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Available for sale Amortized Cost | 4,029 | ' |
Available-for-sale Securities | $4,201 | ' |
Securities_Purchased_Under_Agr5
Securities Purchased Under Agreements to Resell and Investment (Gross realize gains and losses by category) (Details) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ' |
Sale Price | $139,152 |
Book Value | 134,785 |
Available-for-sale Securities, Gross Realized Gains | 4,366 |
Available-for-sale Securities, Gross Realized Losses | 0 |
Collateralized Mortgage Backed Securities [Member] | FNMA and FHLMC [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Sale Price | 115,159 |
Book Value | 110,792 |
Available-for-sale Securities, Gross Realized Gains | 4,366 |
Available-for-sale Securities, Gross Realized Losses | 0 |
Collateralized Mortgage Backed Securities [Member] | GNMA [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Sale Price | 23,993 |
Book Value | 23,993 |
Available-for-sale Securities, Gross Realized Gains | 0 |
Available-for-sale Securities, Gross Realized Losses | $0 |
Securities_Purchased_Under_Agr6
Securities Purchased Under Agreements to Resell and Investment (Gains and losses by category) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
12 months or more | ' | ' |
Available for sale - Amortized cost | $24,344 | $23,485 |
Available for sale - Unrealized Loss | 5,471 | 5,718 |
Available-for-sale, Fair Value | 18,873 | 17,767 |
Less than 12 months | ' | ' |
Available for sale - Amortized cost | 402,468 | 534,577 |
Available for sale - Unrealized Loss | 8,721 | 14,996 |
Available for sale - Fair Value | 393,747 | 519,581 |
Available for sale - amortized cost | 426,812 | 558,062 |
Available for sale - unrealized loss | 14,192 | 20,714 |
Total Fair Value | 412,620 | 537,348 |
Collateralized Mortgage Obligations [Member] | ' | ' |
12 months or more | ' | ' |
Available for sale - Amortized cost | 1,897 | 2,559 |
Available for sale - Unrealized Loss | 163 | 237 |
Available-for-sale, Fair Value | 1,734 | 2,322 |
Less than 12 months | ' | ' |
Available for sale - Amortized cost | 177,882 | 182,661 |
Available for sale - Unrealized Loss | 3,976 | 6,577 |
Available for sale - Fair Value | 173,906 | 176,084 |
Available for sale - amortized cost | 179,779 | 185,220 |
Available for sale - unrealized loss | 4,139 | 6,814 |
Total Fair Value | 175,640 | 178,406 |
US States and Political Subdivisions Debt Securities [Member] | ' | ' |
12 months or more | ' | ' |
Available for sale - Amortized cost | 22,367 | 20,845 |
Available for sale - Unrealized Loss | 5,298 | 5,470 |
Available-for-sale, Fair Value | 17,069 | 15,375 |
Less than 12 months | ' | ' |
Available for sale - Amortized cost | ' | 100,190 |
Available for sale - Unrealized Loss | ' | 1,375 |
Available for sale - Fair Value | ' | 98,815 |
Available for sale - amortized cost | 22,367 | 121,035 |
Available for sale - unrealized loss | 5,298 | 6,845 |
Total Fair Value | 17,069 | 114,190 |
Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | ' | ' |
12 months or more | ' | ' |
Available for sale - Amortized cost | 80 | 81 |
Available for sale - Unrealized Loss | 10 | 11 |
Available-for-sale, Fair Value | 70 | 70 |
Less than 12 months | ' | ' |
Available for sale - Amortized cost | 121 | 122 |
Available for sale - Unrealized Loss | 13 | 13 |
Available for sale - Fair Value | 108 | 109 |
Available for sale - amortized cost | 201 | 203 |
Available for sale - unrealized loss | 23 | 24 |
Total Fair Value | 178 | 179 |
FNMA and FHLMC [Member] | ' | ' |
Less than 12 months | ' | ' |
Available for sale - Amortized cost | 214,926 | 220,913 |
Available for sale - Unrealized Loss | 4,690 | 6,669 |
Available for sale - Fair Value | 210,236 | 214,244 |
Available for sale - amortized cost | 214,926 | 220,913 |
Available for sale - unrealized loss | 4,690 | 6,669 |
Total Fair Value | 210,236 | 214,244 |
Other Debt Obligations [Member] | ' | ' |
Less than 12 months | ' | ' |
Available for sale - Amortized cost | ' | 20,000 |
Available for sale - Unrealized Loss | ' | 320 |
Available for sale - Fair Value | ' | 19,680 |
Available for sale - amortized cost | ' | 20,000 |
Available for sale - unrealized loss | ' | 320 |
Total Fair Value | ' | 19,680 |
US Government-sponsored Enterprises Debt Securities [Member] | ' | ' |
Less than 12 months | ' | ' |
Available for sale - Amortized cost | 9,539 | 10,691 |
Available for sale - Unrealized Loss | 42 | 42 |
Available for sale - Fair Value | 9,497 | 10,649 |
Available for sale - amortized cost | 9,539 | 10,691 |
Available for sale - unrealized loss | 42 | 42 |
Total Fair Value | $9,497 | $10,649 |
Loans_Receivable_Narratives_De
Loans Receivable (Narratives) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Accounts Notes And Loans Receivable Line Items | ' | ' |
Financing Receivable Modifications Recorded Investment Not Included In Non Accrual | $70.80 | $66.50 |
Loans Granted To Puerto Rico Government | 539.9 | ' |
Acquired Loans Under ASC 310-30 granted to the Puerto Rico Government | 196.1 | 180.5 |
Mortgage held for sale reclassified to mortgage held for investment | $23.50 | ' |
Loans_Receivable_Composition_o
Loans Receivable (Composition of loan portfolio) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | $4,689,259 | $4,669,192 | ' | ' |
Deferred loan cost (fees), net | 2,318 | 1,035 | ' | ' |
Loans Receivable Net Of Deferred Income | 4,691,577 | 4,670,227 | ' | ' |
Allowance for loan and lease losses on non-covered loans | -56,183 | -54,298 | ' | ' |
Loans not covered under shared-loss agreements with the FDIC, net of allowance for loan and lease losses, excluding loans held-for-sale. | 4,635,394 | 4,615,929 | ' | ' |
Mortgage loans held-for-sale | 19,355 | 46,529 | ' | ' |
Loans not covered under shared-loss agreements with the FDIC, net of allowance for loan and lease losses, including loans held-for-sale. | 4,654,749 | 4,662,458 | ' | ' |
Loans And Leases Receivable Net Reported Amount Covered [Abstract] | ' | ' | ' | ' |
Loans And Leases Receivable Gross Carrying Amount Covered | 402,263 | 409,690 | ' | ' |
Allowance for Covered Loan and Lease Losses, net | -54,398 | -52,729 | -52,974 | -54,124 |
Loans covered under shared-loss agreements with the FDIC, net of allowance for loan and lease losses | 347,865 | 356,961 | ' | ' |
Loans And Leases Receivable Net Reported Amount Covered And Not Covered | 5,002,614 | 5,019,419 | ' | ' |
Non Covered Loan [Member] | ' | ' | ' | ' |
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ' | ' | ' | ' |
Allowance for loan and lease losses on non-covered loans | -56,183 | -54,298 | ' | ' |
Originated Loans [Member] | ' | ' | ' | ' |
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 2,542,727 | 2,401,540 | ' | ' |
Allowance for loan and lease losses on non-covered loans | -49,507 | -49,081 | ' | ' |
Originated Loans [Member] | Mortgages [Member] | ' | ' | ' | ' |
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 782,150 | 766,265 | ' | ' |
Originated Loans [Member] | Commercial Loan [Member] | ' | ' | ' | ' |
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 1,170,145 | 1,127,657 | ' | ' |
Originated Loans [Member] | Consumer Loan [Member] | ' | ' | ' | ' |
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 142,492 | 127,744 | ' | ' |
Originated Loans [Member] | Auto and Leasing loans receivable [Member] | ' | ' | ' | ' |
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 447,940 | 379,874 | ' | ' |
Non-covered acquired loans accounted for under ASC 310-20 | ' | ' | ' | ' |
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 392,491 | 435,439 | ' | ' |
Allowance for loan and lease losses on non-covered loans | -3,618 | -2,354 | ' | ' |
Non-covered acquired loans accounted for under ASC 310-20 | Commercial Loan [Member] | ' | ' | ' | ' |
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 71,577 | 77,681 | ' | ' |
Non-covered acquired loans accounted for under ASC 310-20 | Consumer Loan [Member] | ' | ' | ' | ' |
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 52,049 | 56,174 | ' | ' |
Non-covered acquired loans accounted for under ASC 310-20 | Auto | ' | ' | ' | ' |
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 268,865 | 301,584 | ' | ' |
Non-covered loans accounted under ASC 310-30 | ' | ' | ' | ' |
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 1,754,041 | 1,832,213 | ' | ' |
Allowance for loan and lease losses on non-covered loans | -3,058 | -2,863 | ' | ' |
Non-covered loans accounted under ASC 310-30 | Mortgages [Member] | ' | ' | ' | ' |
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 703,454 | 717,904 | ' | ' |
Non-covered loans accounted under ASC 310-30 | Commercial Loan [Member] | ' | ' | ' | ' |
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 532,695 | 545,117 | ' | ' |
Non-covered loans accounted under ASC 310-30 | Consumer Loan [Member] | ' | ' | ' | ' |
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 53,310 | 63,620 | ' | ' |
Non-covered loans accounted under ASC 310-30 | Auto | ' | ' | ' | ' |
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 341,889 | 379,145 | ' | ' |
Non-covered loans accounted under ASC 310-30 | Construction | ' | ' | ' | ' |
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 122,693 | 126,427 | ' | ' |
Allowance for loan and lease losses on non-covered loans | 0 | 0 | ' | ' |
Acquired Loans In An F D I C Assisted Transaction [Member] | ' | ' | ' | ' |
Loans And Leases Receivable Net Reported Amount Covered [Abstract] | ' | ' | ' | ' |
Loans And Leases Receivable Gross Carrying Amount Covered | 402,263 | 409,690 | ' | ' |
Allowance for Covered Loan and Lease Losses, net | -54,398 | -52,729 | ' | ' |
Acquired Loans In An F D I C Assisted Transaction [Member] | Consumer Loan [Member] | ' | ' | ' | ' |
Loans And Leases Receivable Net Reported Amount Covered [Abstract] | ' | ' | ' | ' |
Loans And Leases Receivable Gross Carrying Amount Covered | 5,769 | 6,119 | ' | ' |
Acquired Loans In An F D I C Assisted Transaction [Member] | Loans Secured by 1-4 properties | ' | ' | ' | ' |
Loans And Leases Receivable Net Reported Amount Covered [Abstract] | ' | ' | ' | ' |
Loans And Leases Receivable Gross Carrying Amount Covered | 124,239 | 121,748 | ' | ' |
Allowance for Covered Loan and Lease Losses, net | -14,221 | -12,495 | ' | ' |
Acquired Loans In An F D I C Assisted Transaction [Member] | Construction and development secured by multi-family properties [Member] | ' | ' | ' | ' |
Loans And Leases Receivable Net Reported Amount Covered [Abstract] | ' | ' | ' | ' |
Loans And Leases Receivable Gross Carrying Amount Covered | 18,254 | 17,304 | ' | ' |
Allowance for Covered Loan and Lease Losses, net | 0 | 0 | ' | ' |
Acquired Loans In An F D I C Assisted Transaction [Member] | Commercial and Other Construction [Member] | ' | ' | ' | ' |
Loans And Leases Receivable Net Reported Amount Covered [Abstract] | ' | ' | ' | ' |
Loans And Leases Receivable Gross Carrying Amount Covered | 253,804 | 264,249 | ' | ' |
Allowance for Covered Loan and Lease Losses, net | -39,562 | -39,619 | ' | ' |
Acquired Loans In An F D I C Assisted Transaction [Member] | Lease Agreements [Member] | ' | ' | ' | ' |
Loans And Leases Receivable Net Reported Amount Covered [Abstract] | ' | ' | ' | ' |
Loans And Leases Receivable Gross Carrying Amount Covered | 197 | 270 | ' | ' |
Allowance for Covered Loan and Lease Losses, net | $0 | $0 | ' | ' |
Loans_Receivable_Aging_of_reco
Loans Receivable (Aging of recorded investment in gross loans) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans | $4,689,259 | $4,669,192 |
Commercial Secured [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | ' | 0 |
Originated Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 82,967 | 87,623 |
60 - 89 Days Past Due | 31,810 | 31,619 |
90+ Days Past Due | 91,172 | 95,052 |
Total Past Due | 205,949 | 214,294 |
Current | 2,336,778 | 2,187,246 |
Total Loans | 2,542,727 | 2,401,540 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 2,512 | 2,875 |
Originated Loans [Member] | Mortgages [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 45,185 | 52,364 |
60 - 89 Days Past Due | 21,831 | 19,664 |
90+ Days Past Due | 76,175 | 74,156 |
Total Past Due | 143,191 | 146,184 |
Current | 638,959 | 620,081 |
Total Loans | 782,150 | 766,265 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 2,512 | 2,875 |
Originated Loans [Member] | Traditional loan | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 35,292 | 39,388 |
60 - 89 Days Past Due | 14,876 | 12,942 |
90+ Days Past Due | 25,771 | 23,595 |
Total Past Due | 75,939 | 75,925 |
Current | 544,401 | 526,263 |
Total Loans | 620,340 | 602,188 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 258 | 690 |
Originated Loans [Member] | Originated Up To The Year 2002 [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 5,330 | 6,697 |
60 - 89 Days Past Due | 2,620 | 1,635 |
90+ Days Past Due | 2,877 | 3,408 |
Total Past Due | 10,827 | 11,740 |
Current | 61,269 | 64,772 |
Total Loans | 72,096 | 76,512 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 91 | 79 |
Originated Loans [Member] | Originated In The Years 2003 And 2004 [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 5,494 | 4,722 |
60 - 89 Days Past Due | 2,445 | 2,163 |
90+ Days Past Due | 2,342 | 1,845 |
Total Past Due | 10,281 | 8,730 |
Current | 53,234 | 56,387 |
Total Loans | 63,515 | 65,117 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loans [Member] | Originated In The Year 2005 [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 6,620 | 8,527 |
60 - 89 Days Past Due | 2,288 | 2,119 |
90+ Days Past Due | 6,289 | 4,808 |
Total Past Due | 15,197 | 15,454 |
Current | 72,621 | 74,087 |
Total Loans | 87,818 | 89,541 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loans [Member] | Originated In The Year 2006 [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 10,151 | 12,055 |
60 - 89 Days Past Due | 4,376 | 4,312 |
90+ Days Past Due | 4,474 | 4,418 |
Total Past Due | 19,001 | 20,785 |
Current | 97,903 | 99,537 |
Total Loans | 116,904 | 120,322 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loans [Member] | Originated In The Years 2007 2008 And 2009 [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 3,807 | 3,464 |
60 - 89 Days Past Due | 2,025 | 1,104 |
90+ Days Past Due | 4,850 | 4,663 |
Total Past Due | 10,682 | 9,231 |
Current | 87,158 | 91,919 |
Total Loans | 97,840 | 101,150 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 152 |
Originated Loans [Member] | Originated In The Years 2010 2011 2012 2013 And 2014 [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 3,890 | 3,923 |
60 - 89 Days Past Due | 1,122 | 1,609 |
90+ Days Past Due | 4,939 | 4,453 |
Total Past Due | 9,951 | 9,985 |
Current | 172,216 | 139,561 |
Total Loans | 182,167 | 149,546 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 167 | 459 |
Originated Loans [Member] | NonTraditional Mortgage [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 1,744 | 3,217 |
60 - 89 Days Past Due | 470 | 1,162 |
90+ Days Past Due | 2,425 | 2,311 |
Total Past Due | 4,639 | 6,690 |
Current | 35,151 | 35,412 |
Total Loans | 39,790 | 42,102 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loans [Member] | Loss Mitigation Program [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 8,149 | 9,759 |
60 - 89 Days Past Due | 6,485 | 5,560 |
90+ Days Past Due | 12,559 | 13,191 |
Total Past Due | 27,193 | 28,510 |
Current | 58,812 | 57,808 |
Total Loans | 86,005 | 86,318 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 2,254 | 2,185 |
Originated Loans [Member] | Home equity secured personal loans [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 0 | 0 |
90+ Days Past Due | 138 | 138 |
Total Past Due | 138 | 138 |
Current | 595 | 598 |
Total Loans | 733 | 736 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loans [Member] | GNMA's Buy Back Option related | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 0 | 0 |
90+ Days Past Due | 35,282 | 34,921 |
Total Past Due | 35,282 | 34,921 |
Current | 0 | 0 |
Total Loans | 35,282 | 34,921 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loans [Member] | Commercial Loan [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans | 1,170,145 | 1,127,657 |
Originated Loans [Member] | Commercial Secured [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 1,241 | 5,609 |
60 - 89 Days Past Due | 277 | 1,015 |
90+ Days Past Due | 6,311 | 13,484 |
Total Past Due | 7,829 | 20,108 |
Current | 404,922 | 380,453 |
Total Loans | 412,751 | 400,561 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | ' |
Originated Loans [Member] | Corporate Commercial Secured [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 0 | 0 |
90+ Days Past Due | 0 | 0 |
Total Past Due | 0 | 0 |
Current | 62,935 | 54,796 |
Total Loans | 62,935 | 54,796 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loans [Member] | Institutional Commercial Secured [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 0 | 0 |
90+ Days Past Due | 0 | 0 |
Total Past Due | 0 | 0 |
Current | 9,833 | 4,050 |
Total Loans | 9,833 | 4,050 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loans [Member] | Middle Market Commercial Secured [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 0 | 1,356 |
60 - 89 Days Past Due | 0 | 0 |
90+ Days Past Due | 1,531 | 10,294 |
Total Past Due | 1,531 | 11,650 |
Current | 168,222 | 149,933 |
Total Loans | 169,753 | 161,583 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loans [Member] | Retail Commercial Secured [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 1,241 | 4,253 |
60 - 89 Days Past Due | 277 | 1,015 |
90+ Days Past Due | 4,780 | 3,190 |
Total Past Due | 6,298 | 8,458 |
Current | 150,396 | 158,184 |
Total Loans | 156,694 | 166,642 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loans [Member] | Floor Plan Commercial Secured [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 0 | 0 |
90+ Days Past Due | 0 | 0 |
Total Past Due | 0 | 0 |
Current | 1,699 | 1,835 |
Total Loans | 1,699 | 1,835 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loans [Member] | Real Estate Commercial Secured [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 0 | 0 |
90+ Days Past Due | 0 | 0 |
Total Past Due | 0 | 0 |
Current | 11,837 | 11,655 |
Total Loans | 11,837 | 11,655 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loans [Member] | Other Commercial and Industrial[Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 609 | 2,105 |
60 - 89 Days Past Due | 292 | 851 |
90+ Days Past Due | 2,135 | 1,673 |
Total Past Due | 3,036 | 4,629 |
Current | 754,358 | 722,467 |
Total Loans | 757,394 | 727,096 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loans [Member] | Corporate Other Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 0 | 236 |
60 - 89 Days Past Due | 0 | 0 |
90+ Days Past Due | 0 | ' |
Total Past Due | 0 | 236 |
Current | 28,475 | 32,362 |
Total Loans | 28,475 | 32,598 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loans [Member] | Institutional Other Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 0 | ' |
60 - 89 Days Past Due | 0 | ' |
90+ Days Past Due | 0 | 0 |
Total Past Due | 0 | 0 |
Current | 553,249 | 536,445 |
Total Loans | 553,249 | 536,445 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loans [Member] | Middle Market Other Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 0 | 299 |
90+ Days Past Due | 513 | 1,134 |
Total Past Due | 513 | 1,433 |
Current | 82,420 | 57,464 |
Total Loans | 82,933 | 58,897 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loans [Member] | Retail Other Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 609 | 1,830 |
60 - 89 Days Past Due | 292 | 552 |
90+ Days Past Due | 1,622 | 539 |
Total Past Due | 2,523 | 2,921 |
Current | 64,532 | 58,589 |
Total Loans | 67,055 | 61,510 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loans [Member] | Floor Plan Other Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 0 | 39 |
60 - 89 Days Past Due | 0 | 0 |
90+ Days Past Due | 0 | 0 |
Total Past Due | 0 | 39 |
Current | 25,682 | 37,607 |
Total Loans | 25,682 | 37,646 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loans [Member] | Consumer Loan [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 2,144 | 2,014 |
60 - 89 Days Past Due | 851 | 652 |
90+ Days Past Due | 679 | 650 |
Total Past Due | 3,674 | 3,316 |
Current | 138,818 | 124,428 |
Total Loans | 142,492 | 127,744 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loans [Member] | Credit Cards [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 263 | 287 |
60 - 89 Days Past Due | 171 | 168 |
90+ Days Past Due | 354 | 232 |
Total Past Due | 788 | 687 |
Current | 14,702 | 14,554 |
Total Loans | 15,490 | 15,241 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loans [Member] | Overdrafts [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 28 | 46 |
60 - 89 Days Past Due | 11 | 4 |
90+ Days Past Due | 4 | 0 |
Total Past Due | 43 | 50 |
Current | 288 | 322 |
Total Loans | 331 | 372 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loans [Member] | Unsecured personal lines of credit [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 60 | 33 |
60 - 89 Days Past Due | 99 | 38 |
90+ Days Past Due | 57 | 66 |
Total Past Due | 216 | 137 |
Current | 1,718 | 1,844 |
Total Loans | 1,934 | 1,981 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loans [Member] | Unsecured personal loans [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 1,418 | 1,324 |
60 - 89 Days Past Due | 524 | 399 |
90+ Days Past Due | 248 | 352 |
Total Past Due | 2,190 | 2,075 |
Current | 105,847 | 92,485 |
Total Loans | 108,037 | 94,560 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loans [Member] | Cash collateral personal loans [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 375 | 324 |
60 - 89 Days Past Due | 46 | 43 |
90+ Days Past Due | 16 | 0 |
Total Past Due | 437 | 367 |
Current | 16,263 | 15,223 |
Total Loans | 16,700 | 15,590 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loans [Member] | Auto and Leasing loans receivable [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 33,788 | 25,531 |
60 - 89 Days Past Due | 8,559 | 9,437 |
90+ Days Past Due | 5,872 | 5,089 |
Total Past Due | 48,219 | 40,057 |
Current | 399,721 | 339,817 |
Total Loans | 447,940 | 379,874 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-covered acquired loans accounted for under ASC 310-20 | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 15,469 | 17,144 |
60 - 89 Days Past Due | 4,514 | 6,848 |
90+ Days Past Due | 5,105 | 5,413 |
Total Past Due | 25,088 | 29,405 |
Current | 367,403 | 406,034 |
Total Loans | 392,491 | 435,439 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-covered acquired loans accounted for under ASC 310-20 | Commercial Loan [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 790 | 2,197 |
60 - 89 Days Past Due | 128 | 2,025 |
90+ Days Past Due | 1,628 | 1,646 |
Total Past Due | 2,546 | 5,868 |
Current | 69,031 | 71,813 |
Total Loans | 71,577 | 77,681 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-covered acquired loans accounted for under ASC 310-20 | Commercial Secured [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 47 | 431 |
60 - 89 Days Past Due | 0 | 331 |
90+ Days Past Due | 704 | 969 |
Total Past Due | 751 | 1,731 |
Current | 17,381 | 16,882 |
Total Loans | 18,132 | 18,613 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-covered acquired loans accounted for under ASC 310-20 | Corporate Commercial Secured [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 0 | 0 |
90+ Days Past Due | 0 | 0 |
Total Past Due | 0 | 0 |
Current | 11,079 | 10,166 |
Total Loans | 11,079 | 10,166 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-covered acquired loans accounted for under ASC 310-20 | Retail Commercial Secured [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 47 | 431 |
60 - 89 Days Past Due | 0 | 331 |
90+ Days Past Due | 603 | 868 |
Total Past Due | 650 | 1,630 |
Current | 3,651 | 4,140 |
Total Loans | 4,301 | 5,770 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-covered acquired loans accounted for under ASC 310-20 | Floor Plan Commercial Secured [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 0 | 0 |
90+ Days Past Due | 101 | 101 |
Total Past Due | 101 | 101 |
Current | 2,651 | 2,576 |
Total Loans | 2,752 | 2,677 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-covered acquired loans accounted for under ASC 310-20 | Other Commercial and Industrial[Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 743 | 1,766 |
60 - 89 Days Past Due | 128 | 1,694 |
90+ Days Past Due | 924 | 677 |
Total Past Due | 1,795 | 4,137 |
Current | 51,650 | 54,931 |
Total Loans | 53,445 | 59,068 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-covered acquired loans accounted for under ASC 310-20 | Corporate Other Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 14 | 14 |
60 - 89 Days Past Due | 0 | 83 |
90+ Days Past Due | 82 | 0 |
Total Past Due | 96 | 97 |
Current | 2,851 | 9,696 |
Total Loans | 2,947 | 9,793 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-covered acquired loans accounted for under ASC 310-20 | Institutional Other Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 0 | ' |
60 - 89 Days Past Due | 0 | ' |
90+ Days Past Due | 0 | ' |
Total Past Due | 0 | ' |
Current | 221 | ' |
Total Loans | 221 | ' |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | ' |
Non-covered acquired loans accounted for under ASC 310-20 | Retail Other Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 645 | 1,717 |
60 - 89 Days Past Due | 128 | 1,418 |
90+ Days Past Due | 716 | 659 |
Total Past Due | 1,489 | 3,794 |
Current | 15,727 | 23,544 |
Total Loans | 17,216 | 27,338 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-covered acquired loans accounted for under ASC 310-20 | Floor Plan Other Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 84 | 35 |
60 - 89 Days Past Due | 0 | 193 |
90+ Days Past Due | 126 | 18 |
Total Past Due | 210 | 246 |
Current | 32,851 | 21,691 |
Total Loans | 33,061 | 21,937 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-covered acquired loans accounted for under ASC 310-20 | Consumer Loan [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 1,518 | 2,413 |
60 - 89 Days Past Due | 864 | 1,207 |
90+ Days Past Due | 2,135 | 2,159 |
Total Past Due | 4,517 | 5,779 |
Current | 47,532 | 50,395 |
Total Loans | 52,049 | 56,174 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-covered acquired loans accounted for under ASC 310-20 | Credit Cards [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 1,413 | 2,217 |
60 - 89 Days Past Due | 781 | 1,200 |
90+ Days Past Due | 2,078 | 2,068 |
Total Past Due | 4,272 | 5,485 |
Current | 44,109 | 46,714 |
Total Loans | 48,381 | 52,199 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-covered acquired loans accounted for under ASC 310-20 | Unsecured personal loans [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 105 | 196 |
60 - 89 Days Past Due | 83 | 7 |
90+ Days Past Due | 57 | 91 |
Total Past Due | 245 | 294 |
Current | 3,423 | 3,681 |
Total Loans | 3,668 | 3,975 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-covered acquired loans accounted for under ASC 310-20 | Automobile Loan [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 13,161 | 12,534 |
60 - 89 Days Past Due | 3,522 | 3,616 |
90+ Days Past Due | 1,342 | 1,608 |
Total Past Due | 18,025 | 17,758 |
Current | 250,840 | 283,826 |
Total Loans | 268,865 | 301,584 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | $0 | $0 |
Loans_Receivable_NonCovered_BB
Loans Receivable (Non-Covered BBVA Loan carrying amounts) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accounts Notes And Loans Receivable Line Items | ' | ' |
Financing Receivable Acquired With Deteriorated Credit Quality | $2,799,336 | $2,929,353 |
Non-acretable discount | 563,294 | 579,587 |
Cash expected to be collected | 2,236,042 | 2,349,766 |
Accretable Yield | 482,001 | 517,553 |
Carrying amount, gross | $1,754,041 | $1,832,213 |
Loans_Receivable_Covered_Loan_
Loans Receivable (Covered Loan carrying amounts) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accounts Notes And Loans Receivable Line Items | ' | ' |
Financing Receivable Acquired With Deteriorated Credit Quality | $2,799,336 | $2,929,353 |
Non-acretable discount | 563,294 | 579,587 |
Cash expected to be collected | 2,236,042 | 2,349,766 |
Accretable Yield | 482,001 | 517,553 |
Carrying amount, gross | 1,754,041 | 1,832,213 |
Acquired Loans In An F D I C Assisted Transaction [Member] | ' | ' |
Accounts Notes And Loans Receivable Line Items | ' | ' |
Financing Receivable Acquired With Deteriorated Credit Quality | 657,353 | 702,126 |
Non-acretable discount | 107,323 | 129,477 |
Cash expected to be collected | 550,030 | 572,649 |
Accretable Yield | 147,767 | 162,959 |
Carrying amount, gross | 402,263 | 409,690 |
Allowance for loan and lease losses | 54,398 | 52,729 |
Carrying amount, net | $347,865 | $356,961 |
Loans_Receivable_Accretable_yi
Loans Receivable (Accretable yield and non-accretable discount activity) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ' | ' |
Additions accretable | $0 | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ' | ' |
Additions non-accretable | 0 | ' |
Acquired under ASC 310-30 Non-Covered Loans [Member] | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ' | ' |
Balance at beginning of period | 517,553 | 655,833 |
Accretion Accretable | -40,269 | -47,668 |
Transfer from (to) non-accretable discount | 4,717 | 0 |
Balance at end of period | 482,001 | 608,165 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ' | ' |
Balance at beginning of period | 579,587 | 714,462 |
Principal Losses | -11,576 | -8,746 |
Transfer (to) from accretable yield | -4,717 | 0 |
Balance at end of period | $563,294 | $705,716 |
Loans_Receivable_Accretable_yi1
Loans Receivable (Accretable yield and non-accretable discount activity of covered loans) (Details) (Acquired Loans In An F D I C Assisted Transaction [Member], USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Acquired Loans In An F D I C Assisted Transaction [Member] | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ' | ' |
Balance at beginning of period | $162,959 | $188,008 |
Accretion Accretable | -23,388 | -20,229 |
Transfer from (to) non-accretable discount | 8,196 | 6,328 |
Balance at end of period | 147,767 | 174,107 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ' | ' |
Balance at beginning of period | 129,477 | 237,555 |
Principal Losses | -13,958 | -16,991 |
Transfer (to) from accretable yield | -8,196 | -6,328 |
Balance at end of period | $107,323 | $214,236 |
Loans_Receivable_Investment_in
Loans Receivable (Investment in non-covered loans on non-accrual status) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Non Covered Loan [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | $85,650 | $83,277 |
Non-covered originated loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 80,139 | 76,907 |
Non-covered originated loans [Member] | Mortgages [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 49,216 | 48,183 |
Non-covered originated loans [Member] | Traditional loan | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 29,750 | 26,942 |
Non-covered originated loans [Member] | Originated Up To The Year 2002 [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,884 | 3,428 |
Non-covered originated loans [Member] | Originated In The Years 2003 And 2004 [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,359 | 1,845 |
Non-covered originated loans [Member] | Originated In The Year 2005 [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 6,667 | 4,922 |
Non-covered originated loans [Member] | Originated In The Year 2006 [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 4,555 | 4,418 |
Non-covered originated loans [Member] | Originated In The Years 2007 2008 And 2009 [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 4,943 | 4,511 |
Non-covered originated loans [Member] | Originated In The Years 2010 2011 2012 2013 And 2014 [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 8,342 | 7,818 |
Non-covered originated loans [Member] | NonTraditional Mortgage [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,425 | 2,311 |
Non-covered originated loans [Member] | Loss Mitigation Program [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 16,903 | 18,792 |
Non-covered originated loans [Member] | Home equity secured personal loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 138 | 138 |
Non-covered originated loans [Member] | Commercial Loan [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 23,792 | 22,830 |
Non-covered originated loans [Member] | Commercial Secured [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 20,356 | 19,103 |
Non-covered originated loans [Member] | Middle Market Commercial Secured [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 11,596 | 11,895 |
Non-covered originated loans [Member] | Retail Commercial Secured [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 8,760 | 7,208 |
Non-covered originated loans [Member] | Other Commercial and Industrial[Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 3,436 | 3,727 |
Non-covered originated loans [Member] | Middle Market Other Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 513 | 1,134 |
Non-covered originated loans [Member] | Retail Other Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,923 | 2,485 |
Non-covered originated loans [Member] | Floor Plan Other Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | 108 |
Non-covered originated loans [Member] | Consumer Loan [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,084 | 805 |
Non-covered originated loans [Member] | Credit Cards [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 354 | 232 |
Non-covered originated loans [Member] | Overdrafts [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 4 | 0 |
Non-covered originated loans [Member] | Unsecured personal lines of credit [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 161 | 84 |
Non-covered originated loans [Member] | Unsecured personal loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 547 | 485 |
Non-covered originated loans [Member] | Cash collateral personal loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 18 | 4 |
Non-covered originated loans [Member] | Auto and Leasing loans receivable [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 6,047 | 5,089 |
Accounted for under ASC 310-20 [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 5,511 | 6,370 |
Accounted for under ASC 310-20 [Member] | Commercial Loan [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,862 | 2,543 |
Accounted for under ASC 310-20 [Member] | Commercial Secured [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 789 | 1,057 |
Accounted for under ASC 310-20 [Member] | Retail Commercial Secured [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 688 | 956 |
Accounted for under ASC 310-20 [Member] | Floor Plan Commercial Secured [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 101 | 101 |
Accounted for under ASC 310-20 [Member] | Other Commercial and Industrial[Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,073 | 1,486 |
Accounted for under ASC 310-20 [Member] | Corporate Other Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 96 | 97 |
Accounted for under ASC 310-20 [Member] | Retail Other Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 851 | 1,371 |
Accounted for under ASC 310-20 [Member] | Floor Plan Other Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 126 | 18 |
Accounted for under ASC 310-20 [Member] | Consumer Loan [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,134 | 2,219 |
Accounted for under ASC 310-20 [Member] | Credit Cards [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,076 | 2,068 |
Accounted for under ASC 310-20 [Member] | Unsecured personal loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 58 | 151 |
Accounted for under ASC 310-20 [Member] | Auto and Leasing loans receivable [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | $1,515 | $1,608 |
Allowance_for_Loan_and_Lease_L2
Allowance for Loan and Lease Losses (Narrative) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Line Of Credit Facility Maximum Borrowing Capacity to Puerto Rico Government | $766.70 | $763.40 |
Line Of Credit Facility Amount Outstanding to Puerto Rico Government | $718.80 | $696 |
Allowance_for_Loan_and_Lease_L3
Allowance for Loan and Lease Losses (Composition of the Company's allowance for loan and lease losses) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loan and lease losses, non covered | $56,183 | $54,298 | ' | ' |
Loans And Leases Receivable Allowance, Covered | 54,398 | 52,729 | 52,974 | 54,124 |
Loans And Leases Receivable Allowance Covered and Not Covered | 110,581 | 107,027 | ' | ' |
Non Covered Loan [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loan and lease losses, non covered | 56,183 | 54,298 | ' | ' |
Originated Loans [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loan and lease losses, non covered | 49,507 | 49,081 | ' | ' |
Originated Loans [Member] | Residential Portfolio Segment | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loan and lease losses, non covered | 19,511 | 19,937 | ' | ' |
Originated Loans [Member] | Commercial Portfolio Segment | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loan and lease losses, non covered | 13,994 | 14,897 | ' | ' |
Originated Loans [Member] | Consumer Portfolio Segment | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loan and lease losses, non covered | 7,135 | 6,006 | ' | ' |
Originated Loans [Member] | Auto and Leasing Portfolio Segment [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loan and lease losses, non covered | 8,731 | 7,866 | ' | ' |
Originated Loans [Member] | Unallocated Financing Receivables | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loan and lease losses, non covered | 136 | 375 | ' | ' |
Non-covered acquired loans accounted for under ASC 310-20 | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loan and lease losses, non covered | 3,618 | 2,354 | ' | ' |
Non-covered acquired loans accounted for under ASC 310-20 | Commercial Portfolio Segment | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loan and lease losses, non covered | 867 | 926 | ' | ' |
Non-covered acquired loans accounted for under ASC 310-20 | Consumer Portfolio Segment | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loan and lease losses, non covered | 504 | 0 | ' | ' |
Non-covered acquired loans accounted for under ASC 310-20 | Auto and Leasing Portfolio Segment [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loan and lease losses, non covered | 2,247 | 1,428 | ' | ' |
Accounted for under ASC 310-30 [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loan and lease losses, non covered | 3,058 | 2,863 | ' | ' |
Accounted for under ASC 310-30 [Member] | Residential Portfolio Segment | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loan and lease losses, non covered | 0 | 0 | ' | ' |
Accounted for under ASC 310-30 [Member] | Commercial Portfolio Segment | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loan and lease losses, non covered | 2,653 | 1,713 | ' | ' |
Accounted for under ASC 310-30 [Member] | Consumer Portfolio Segment | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loan and lease losses, non covered | 405 | 418 | ' | ' |
Accounted for under ASC 310-30 [Member] | Construction | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loan and lease losses, non covered | 0 | 0 | ' | ' |
Accounted for under ASC 310-30 [Member] | Automobile Loan [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loan and lease losses, non covered | 0 | 732 | ' | ' |
Acquired Loans In An F D I C Assisted Transaction [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Loans And Leases Receivable Allowance, Covered | 54,398 | 52,729 | ' | ' |
Acquired Loans In An F D I C Assisted Transaction [Member] | Consumer Portfolio Segment | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Loans And Leases Receivable Allowance, Covered | 615 | 615 | ' | ' |
Acquired Loans In An F D I C Assisted Transaction [Member] | Loans Secured by multi-family properties [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Loans And Leases Receivable Allowance, Covered | 14,221 | 12,495 | ' | ' |
Acquired Loans In An F D I C Assisted Transaction [Member] | Construction and development secured by multi-family properties [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Loans And Leases Receivable Allowance, Covered | 0 | 0 | ' | ' |
Acquired Loans In An F D I C Assisted Transaction [Member] | Commercial and Other Construction [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Loans And Leases Receivable Allowance, Covered | 39,562 | 39,619 | ' | ' |
Acquired Loans In An F D I C Assisted Transaction [Member] | Leasing | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Loans And Leases Receivable Allowance, Covered | $0 | $0 | ' | ' |
Allowance_for_Loan_and_Lease_L4
Allowance for Loan and Lease Losses (Allowance for loan and lease losses) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' |
Provision for Non Covered Loan and Lease Losses | $10,062 | $7,916 |
Non-covered acquired loans accounted under ASC 310-20 | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' |
Balance at beginning of period | 2,354 | 0 |
Charge-offs | -3,528 | -3,171 |
Recoveries | 550 | 1,437 |
Provision for Non Covered Loan and Lease Losses | 4,242 | 2,120 |
Balance at end of period | 3,618 | 386 |
Most recent acquired loans accounted under ASC 310-30 | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' |
Balance at beginning of period | 2,863 | ' |
Provision for Non Covered Loan and Lease Losses | 195 | ' |
Balance at end of period | 3,058 | ' |
Non-covered originated loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' |
Balance at beginning of period | 49,081 | 39,921 |
Charge-offs | -7,116 | -3,482 |
Recoveries | 1,917 | 100 |
Provision for Non Covered Loan and Lease Losses | 5,625 | 5,795 |
Balance at end of period | 49,507 | 42,334 |
Residential Portfolio Segment | Non-covered acquired loans accounted under ASC 310-20 | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' |
Balance at end of period | ' | 0 |
Residential Portfolio Segment | Most recent acquired loans accounted under ASC 310-30 | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' |
Balance at beginning of period | 0 | ' |
Provision for Non Covered Loan and Lease Losses | 0 | ' |
Balance at end of period | 0 | ' |
Residential Portfolio Segment | Non-covered originated loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' |
Balance at beginning of period | 19,937 | 21,092 |
Charge-offs | -1,214 | -2,588 |
Recoveries | 148 | 0 |
Provision for Non Covered Loan and Lease Losses | 640 | 4,385 |
Balance at end of period | 19,511 | 22,889 |
Commercial Portfolio Segment | Non-covered acquired loans accounted under ASC 310-20 | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' |
Balance at beginning of period | 926 | 0 |
Charge-offs | -174 | 0 |
Recoveries | 0 | 0 |
Provision for Non Covered Loan and Lease Losses | 115 | 386 |
Balance at end of period | 867 | 386 |
Commercial Portfolio Segment | Most recent acquired loans accounted under ASC 310-30 | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' |
Balance at beginning of period | 1,713 | ' |
Provision for Non Covered Loan and Lease Losses | 940 | ' |
Balance at end of period | 2,653 | ' |
Commercial Portfolio Segment | Non-covered originated loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' |
Balance at beginning of period | 14,897 | 17,072 |
Charge-offs | -419 | -557 |
Recoveries | 98 | 28 |
Provision for Non Covered Loan and Lease Losses | -582 | -229 |
Balance at end of period | 13,994 | 16,314 |
Consumer Portfolio Segment | Non-covered acquired loans accounted under ASC 310-20 | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' |
Balance at beginning of period | 0 | 0 |
Charge-offs | -2,058 | -1,456 |
Recoveries | 100 | 207 |
Provision for Non Covered Loan and Lease Losses | 2,462 | 1,249 |
Balance at end of period | 504 | 0 |
Consumer Portfolio Segment | Most recent acquired loans accounted under ASC 310-30 | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' |
Balance at beginning of period | 418 | ' |
Provision for Non Covered Loan and Lease Losses | -13 | ' |
Balance at end of period | 405 | ' |
Consumer Portfolio Segment | Non-covered originated loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' |
Balance at beginning of period | 6,006 | 856 |
Charge-offs | -838 | -246 |
Recoveries | 147 | 65 |
Provision for Non Covered Loan and Lease Losses | 1,820 | 638 |
Balance at end of period | 7,135 | 1,313 |
Auto Portfolio Segment | Non-covered acquired loans accounted under ASC 310-20 | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' |
Balance at beginning of period | 1,428 | 0 |
Charge-offs | -1,296 | -1,715 |
Recoveries | 450 | 1,230 |
Provision for Non Covered Loan and Lease Losses | 1,665 | 485 |
Balance at end of period | 2,247 | ' |
Auto Portfolio Segment | Most recent acquired loans accounted under ASC 310-30 | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' |
Balance at beginning of period | 732 | ' |
Provision for Non Covered Loan and Lease Losses | -732 | ' |
Balance at end of period | 0 | ' |
Auto and Leasing Portfolio Segment | Non-covered originated loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' |
Balance at beginning of period | 7,866 | 533 |
Charge-offs | -4,645 | -91 |
Recoveries | 1,524 | 7 |
Provision for Non Covered Loan and Lease Losses | 3,986 | 1,292 |
Balance at end of period | 8,731 | 1,741 |
Unallocated Financing Receivables | Non-covered acquired loans accounted under ASC 310-20 | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' |
Balance at beginning of period | 0 | 0 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision for Non Covered Loan and Lease Losses | 0 | 0 |
Balance at end of period | 0 | 0 |
Unallocated Financing Receivables | Non-covered originated loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' |
Balance at beginning of period | 375 | 368 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision for Non Covered Loan and Lease Losses | -239 | -291 |
Balance at end of period | 136 | 77 |
Construction Portfolio Segment | Most recent acquired loans accounted under ASC 310-30 | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' |
Balance at beginning of period | 0 | ' |
Provision for Non Covered Loan and Lease Losses | 0 | ' |
Balance at end of period | $0 | ' |
Allowance_for_Loan_and_Lease_L5
Allowance for Loan and Lease Losses (Gross Loan and Allowance for loan and lease losses) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | $4,689,259 | $4,669,192 | ' | ' |
Non-covered acquired loans accounted under ASC 310-20 | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 0 | 0 | ' | ' |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 3,618 | 2,354 | ' | ' |
Financing Receivable, Allowance for Credit Losses | 3,618 | 2,354 | 386 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ' | ' |
Financing Receivable, Collectively Evaluated for Impairment | 392,491 | 435,439 | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 392,491 | 435,439 | ' | ' |
Non-covered originated loans [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 9,705 | 10,139 | ' | ' |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 39,802 | 38,942 | ' | ' |
Financing Receivable, Allowance for Credit Losses | 49,507 | 49,081 | 42,334 | 39,921 |
Financing Receivable, Individually Evaluated for Impairment | 115,511 | 112,639 | ' | ' |
Financing Receivable, Collectively Evaluated for Impairment | 2,427,216 | 2,288,901 | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 2,542,727 | 2,401,540 | ' | ' |
Residential Portfolio Segment | Non-covered acquired loans accounted under ASC 310-20 | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses | ' | ' | 0 | ' |
Residential Portfolio Segment | Non-covered originated loans [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 8,001 | 8,708 | ' | ' |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 11,510 | 11,229 | ' | ' |
Financing Receivable, Allowance for Credit Losses | 19,511 | 19,937 | 22,889 | 21,092 |
Financing Receivable, Individually Evaluated for Impairment | 87,744 | 84,494 | ' | ' |
Financing Receivable, Collectively Evaluated for Impairment | 694,406 | 681,771 | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 782,150 | 766,265 | ' | ' |
Commercial Portfolio Segment | Non-covered acquired loans accounted under ASC 310-20 | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 0 | 0 | ' | ' |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 867 | 926 | ' | ' |
Financing Receivable, Allowance for Credit Losses | 867 | 926 | 386 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ' | ' |
Financing Receivable, Collectively Evaluated for Impairment | 71,577 | 77,681 | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 71,577 | 77,681 | ' | ' |
Commercial Portfolio Segment | Non-covered originated loans [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 1,704 | 1,431 | ' | ' |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 12,290 | 13,466 | ' | ' |
Financing Receivable, Allowance for Credit Losses | 13,994 | 14,897 | 16,314 | 17,072 |
Financing Receivable, Individually Evaluated for Impairment | 27,767 | 28,145 | ' | ' |
Financing Receivable, Collectively Evaluated for Impairment | 1,142,378 | 1,099,512 | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 1,170,145 | 1,127,657 | ' | ' |
Consumer Portfolio Segment | Non-covered acquired loans accounted under ASC 310-20 | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 0 | 0 | ' | ' |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 504 | 0 | ' | ' |
Financing Receivable, Allowance for Credit Losses | 504 | 0 | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ' | ' |
Financing Receivable, Collectively Evaluated for Impairment | 52,049 | 56,174 | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 52,049 | 56,174 | ' | ' |
Consumer Portfolio Segment | Non-covered originated loans [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 0 | 0 | ' | ' |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 7,135 | 6,006 | ' | ' |
Financing Receivable, Allowance for Credit Losses | 7,135 | 6,006 | 1,313 | 856 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ' | ' |
Financing Receivable, Collectively Evaluated for Impairment | 142,492 | 127,744 | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 142,492 | 127,744 | ' | ' |
Auotomobile loans portfolio segment [Member] | Non-covered acquired loans accounted under ASC 310-20 | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 0 | 0 | ' | ' |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 2,247 | 1,428 | ' | ' |
Financing Receivable, Allowance for Credit Losses | 2,247 | 1,428 | ' | ' |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ' | ' |
Financing Receivable, Collectively Evaluated for Impairment | 268,865 | 301,584 | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 268,865 | 301,584 | ' | ' |
Auotomobile loans portfolio segment [Member] | Non-covered originated loans [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 0 | 0 | ' | ' |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 8,731 | 7,866 | ' | ' |
Financing Receivable, Allowance for Credit Losses | 8,731 | 7,866 | ' | ' |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ' | ' |
Financing Receivable, Collectively Evaluated for Impairment | 447,940 | 379,874 | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 447,940 | 379,874 | ' | ' |
Auto and Leasing loans receivable [Member] | Non-covered originated loans [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses | 8,731 | 7,866 | 1,741 | 533 |
Unallocated Financing Receivables | Non-covered acquired loans accounted under ASC 310-20 | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 0 | 0 | ' | ' |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 0 | 0 | ' | ' |
Financing Receivable, Allowance for Credit Losses | 0 | 0 | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ' | ' |
Financing Receivable, Collectively Evaluated for Impairment | 0 | 0 | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ' | ' |
Unallocated Financing Receivables | Non-covered originated loans [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 0 | 0 | ' | ' |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 136 | 375 | ' | ' |
Financing Receivable, Allowance for Credit Losses | 136 | 375 | 77 | 368 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ' | ' |
Financing Receivable, Collectively Evaluated for Impairment | 0 | 0 | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | $0 | $0 | ' | ' |
Allowance_for_Loan_and_Lease_L6
Allowance for Loan and Lease Losses (Recorded Investment in loans individually evaluated for impairment) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Non-covered originated loans [Member] | Non-covered originated loans [Member] | Non Covered Loan [Member] | Non Covered Loan [Member] | Non Covered Loan [Member] | Non Covered Loan [Member] | Covered Loan [Member] | Covered Loan [Member] | Mortgage | Mortgage | Commercial | Commercial | Commercial | Commercial | Commercial | Commercial | Troubled Debt Restructuring | Troubled Debt Restructuring | Troubled Debt Restructuring | Construction | Construction | Consumer | Consumer | Consumer | Consumer | Auto | Auto | ||||
Non-covered acquired loans accounted under ASC 310-20 | Non-covered acquired loans accounted under ASC 310-20 | Most recent acquired loans accounted under ASC 310-30 | Most recent acquired loans accounted under ASC 310-30 | Non Covered Loan [Member] | Non Covered Loan [Member] | Non-covered originated loans [Member] | Non-covered originated loans [Member] | Non Covered Loan [Member] | Non Covered Loan [Member] | Non Covered Loan [Member] | Non Covered Loan [Member] | Non-covered originated loans [Member] | Non-covered originated loans [Member] | Non-covered originated loans [Member] | Non Covered Loan [Member] | Non Covered Loan [Member] | Non Covered Loan [Member] | Non Covered Loan [Member] | Covered Loan [Member] | Covered Loan [Member] | Non Covered Loan [Member] | Non Covered Loan [Member] | |||||||||
Most recent acquired loans accounted under ASC 310-30 | Most recent acquired loans accounted under ASC 310-30 | Non-covered acquired loans accounted under ASC 310-20 | Non-covered acquired loans accounted under ASC 310-20 | Most recent acquired loans accounted under ASC 310-30 | Most recent acquired loans accounted under ASC 310-30 | Non-covered acquired loans accounted under ASC 310-20 | Most recent acquired loans accounted under ASC 310-30 | Most recent acquired loans accounted under ASC 310-30 | Most recent acquired loans accounted under ASC 310-30 | Most recent acquired loans accounted under ASC 310-30 | Most recent acquired loans accounted under ASC 310-30 | Most recent acquired loans accounted under ASC 310-30 | |||||||||||||||||||
Impaired Financing Receivable Unpaid Principal Balance [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impaired Financing Receivable With Related Allowance Unpaid Principal Balance | ' | ' | ' | ' | ' | ' | ' | ' | $202,344 | $527,088 | $415,110 | $338,257 | $5,008 | $5,183 | $7,856 | $6,600 | ' | ' | $89,496 | $48,100 | $92,870 | $89,539 | ' | $46,256 | $21,526 | $61,584 | $73,043 | $9,671 | $10,512 | $0 | $379,236 |
Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 26,744 | 27,914 | 208 | 208 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Unpaid Principal | ' | ' | ' | ' | 127,470 | 124,053 | 208 | 208 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impaired Financing Receivable Recorded Investment [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impaired Financing Receivable With Related Allowance Recorded Investment | ' | ' | ' | ' | ' | ' | ' | ' | 176,956 | 503,869 | 246,846 | 173,286 | 4,510 | 4,718 | 6,686 | 5,553 | ' | ' | 78,742 | 40,411 | 87,744 | 84,494 | ' | 40,397 | 17,818 | 53,307 | 63,606 | 5,503 | 5,857 | 0 | 377,316 |
Impaired Financing Receivable With No Related Allowance Recorded Investment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21,081 | 22,592 | 208 | 208 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Recorded Investment | ' | 208 | ' | ' | 115,511 | 112,639 | 208 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance for loan and lease losses, covered | $54,398 | $52,729 | $52,974 | $54,124 | $9,706 | $10,139 | $0 | $0 | $3,058 | $2,863 | $54,398 | $52,729 | $57 | $57 | $1,704 | $1,431 | ' | ' | $879 | $394 | ' | $8,708 | $8,002 | $1,773 | $1,319 | $349 | $361 | $615 | $615 | $0 | $732 |
Coverage | ' | ' | ' | ' | 8.00% | 9.00% | 0.00% | 0.00% | 2.00% | 1.00% | 22.00% | 30.00% | 1.00% | 1.00% | 25.00% | 26.00% | ' | ' | 1.00% | 1.00% | 9.00% | 10.00% | ' | 4.00% | 7.00% | 1.00% | 1.00% | 11.00% | 11.00% | 0.00% | 0.00% |
Allowance_for_Loan_and_Lease_L7
Allowance for Loan and Lease Losses (Interest Income Recognized in loans individually evaluated for impairment) (Details) (Originated Loans [Member], USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Impaired Financing Receivable Interest Income Accrual Method [Abstract] | ' | ' |
Total Interest Income | $747 | $740 |
Impaired Financing Receivable Average Recorded Investment [Abstract] | ' | ' |
Total Average Recorded Investment | 114,940 | 124,580 |
Commercial Loan [Member] | ' | ' |
Impaired Financing Receivable Interest Income Accrual Method [Abstract] | ' | ' |
Impaired Financing Receivable With Related Allowance Interest Income Accrual Method | 24 | 4 |
Impaired Financing Receivable With No Related Allowance Interest Income Accrual Method | 78 | 293 |
Impaired Financing Receivable Average Recorded Investment [Abstract] | ' | ' |
Impaired Financing Receivable With Related Allowance Average Recorded Investment | 6,259 | 15,472 |
Impaired Financing Receivable With No Related Allowance Average Recorded Investment | 21,629 | 30,360 |
Troubled Debt Restructuring [Member] | ' | ' |
Impaired Financing Receivable Interest Income Accrual Method [Abstract] | ' | ' |
Impaired Financing Receivable With Related Allowance Interest Income Accrual Method | 645 | 443 |
Impaired Financing Receivable Average Recorded Investment [Abstract] | ' | ' |
Impaired Financing Receivable With Related Allowance Average Recorded Investment | $87,052 | $78,748 |
Allowance_for_Loan_and_Lease_L8
Allowance for Loan and Lease Losses (TDR Pre/Post Modifications) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2012 |
number | number | number | |
Mortgages [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 34 | 57 | 187 |
Financing Receivable Modifications Pre Modification Recorded Investment | $4,009 | $7,518 | $24,722 |
Pre Modification Weighted Average Rate | 6.43% | 6.28% | 6.74% |
Pre Modification Weighted Average Term | '347 months | '331 months | '319 months |
Financing Receivable Modifications Post Modification Recorded Investment | 3,910 | 8,040 | 26,620 |
Post Modification Weighted Average Rate | 4.35% | 4.35% | 5.52% |
Post Modification Weighted Average Term | '375 months | '409 months | '385 months |
Commercial Loan [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 0 | ' | 17 |
Financing Receivable Modifications Pre Modification Recorded Investment | 0 | ' | 15,642 |
Pre Modification Weighted Average Rate | 0.00% | ' | 4.03% |
Pre Modification Weighted Average Term | '0 months | ' | '68 months |
Financing Receivable Modifications Post Modification Recorded Investment | 0 | ' | 12,413 |
Post Modification Weighted Average Rate | 0.00% | ' | 3.59% |
Post Modification Weighted Average Term | '0 months | ' | '75 months |
Consumer Loan [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 5 | ' | ' |
Financing Receivable Modifications Pre Modification Recorded Investment | 42 | ' | ' |
Pre Modification Weighted Average Rate | 12.97% | ' | ' |
Pre Modification Weighted Average Term | '67 months | ' | ' |
Financing Receivable Modifications Post Modification Recorded Investment | $44 | ' | ' |
Post Modification Weighted Average Rate | 12.95% | ' | ' |
Post Modification Weighted Average Term | '66 months | ' | ' |
Allowance_for_Loan_and_Lease_L9
Allowance for Loan and Lease Losses (Troubled debt restructurings, Rolling Twelve Months) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
number | number | |
Mortgages [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 19 | 32 |
Recored Investment | $2,592 | $4,295 |
Commercial Loan [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 0 | 1 |
Recored Investment | 0 | 18 |
Consumer Loan [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 1 | 0 |
Recored Investment | $11 | $0 |
Recovered_Sheet1
Allowance for Loan and Lease Losses (Credit Quality Indicator of non-covered loans) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Credit Quality Indicators [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | $4,689,259 | $4,669,192 |
Non-covered originated loans [Member] | ' | ' |
Credit Quality Indicators [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 2,542,727 | 2,401,540 |
Doubtful | 0 | ' |
Financing Receivable, Individually Evaluated for Impairment | 115,511 | 112,639 |
Commercial Secured [Member] | Non-covered originated loans [Member] | ' | ' |
Credit Quality Indicators [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 412,751 | 400,561 |
Pass | 367,812 | 354,415 |
Special Mention | 18,548 | 18,809 |
Substandard | 1,892 | 2,376 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 24,499 | 24,961 |
Commercial Secured [Member] | Commercial Acquired loans (under ASC 310-20) [Member] | ' | ' |
Credit Quality Indicators [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 18,132 | 18,613 |
Pass | 17,220 | 17,120 |
Special Mention | 245 | 443 |
Substandard | 667 | 1,050 |
Doubtful | ' | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Corporate | Non-covered originated loans [Member] | ' | ' |
Credit Quality Indicators [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 62,935 | 54,796 |
Pass | 62,935 | 54,796 |
Special Mention | 0 | 0 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Corporate | Commercial Acquired loans (under ASC 310-20) [Member] | ' | ' |
Credit Quality Indicators [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 11,079 | 10,166 |
Pass | 11,079 | 10,166 |
Special Mention | 0 | 0 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Institutional | Non-covered originated loans [Member] | ' | ' |
Credit Quality Indicators [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 9,833 | 4,050 |
Pass | 9,833 | 4,050 |
Special Mention | 0 | 0 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Institutional | Commercial Acquired loans (under ASC 310-20) [Member] | ' | ' |
Credit Quality Indicators [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 0 | ' |
Pass | 0 | ' |
Special Mention | 0 | ' |
Substandard | 0 | ' |
Doubtful | 0 | ' |
Financing Receivable, Individually Evaluated for Impairment | 0 | ' |
Middle Market | Non-covered originated loans [Member] | ' | ' |
Credit Quality Indicators [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 169,753 | 161,583 |
Pass | 141,537 | 133,061 |
Special Mention | 16,619 | 16,627 |
Substandard | 0 | 118 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 11,597 | 11,777 |
Middle Market | Commercial Acquired loans (under ASC 310-20) [Member] | ' | ' |
Credit Quality Indicators [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 0 | ' |
Pass | 0 | ' |
Special Mention | 0 | ' |
Substandard | 0 | ' |
Doubtful | 0 | ' |
Financing Receivable, Individually Evaluated for Impairment | 0 | ' |
Retail | Non-covered originated loans [Member] | ' | ' |
Credit Quality Indicators [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 156,694 | 166,642 |
Pass | 139,971 | 149,018 |
Special Mention | 1,929 | 2,182 |
Substandard | 1,892 | 2,258 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 12,902 | 13,184 |
Retail | Commercial Acquired loans (under ASC 310-20) [Member] | ' | ' |
Credit Quality Indicators [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 4,301 | 5,770 |
Pass | 3,490 | 4,378 |
Special Mention | 245 | 443 |
Substandard | 566 | 949 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Floor Plan | Non-covered originated loans [Member] | ' | ' |
Credit Quality Indicators [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 1,699 | 1,835 |
Pass | 1,699 | 1,835 |
Special Mention | 0 | 0 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Floor Plan | Commercial Acquired loans (under ASC 310-20) [Member] | ' | ' |
Credit Quality Indicators [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 2,752 | 2,677 |
Pass | 2,651 | 2,576 |
Special Mention | 0 | 0 |
Substandard | 101 | 101 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Real Estate | Non-covered originated loans [Member] | ' | ' |
Credit Quality Indicators [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 11,837 | 11,655 |
Pass | 11,837 | 11,655 |
Special Mention | 0 | 0 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Real Estate | Commercial Acquired loans (under ASC 310-20) [Member] | ' | ' |
Credit Quality Indicators [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 0 | ' |
Pass | 0 | ' |
Special Mention | 0 | ' |
Substandard | 0 | ' |
Doubtful | 0 | ' |
Financing Receivable, Individually Evaluated for Impairment | 0 | ' |
Other commercial and industrial [Member] | Non-covered originated loans [Member] | ' | ' |
Credit Quality Indicators [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 757,394 | 727,096 |
Pass | 748,028 | 719,003 |
Special Mention | 3,657 | 3,911 |
Substandard | 2,441 | 997 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 3,268 | 3,185 |
Other commercial and industrial [Member] | Commercial Acquired loans (under ASC 310-20) [Member] | ' | ' |
Credit Quality Indicators [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 53,445 | 59,068 |
Pass | 52,530 | 57,509 |
Special Mention | 163 | 318 |
Substandard | 752 | 1,241 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Corporate | Non-covered originated loans [Member] | ' | ' |
Credit Quality Indicators [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 28,475 | 32,598 |
Pass | 28,475 | 32,598 |
Special Mention | 0 | 0 |
Substandard | 0 | 0 |
Doubtful | ' | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Corporate | Commercial Acquired loans (under ASC 310-20) [Member] | ' | ' |
Credit Quality Indicators [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 2,947 | 9,793 |
Pass | 2,851 | 9,696 |
Special Mention | 0 | 0 |
Substandard | 96 | 97 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Institutional | Non-covered originated loans [Member] | ' | ' |
Credit Quality Indicators [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 553,249 | 536,445 |
Pass | 553,249 | 536,445 |
Special Mention | 0 | 0 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Institutional | Commercial Acquired loans (under ASC 310-20) [Member] | ' | ' |
Credit Quality Indicators [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 221 | ' |
Pass | 221 | ' |
Special Mention | 0 | ' |
Substandard | 0 | ' |
Doubtful | 0 | ' |
Financing Receivable, Individually Evaluated for Impairment | 0 | ' |
Middle Market | Non-covered originated loans [Member] | ' | ' |
Credit Quality Indicators [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 82,933 | 58,897 |
Pass | 77,566 | 53,868 |
Special Mention | 3,336 | 3,466 |
Substandard | 771 | 198 |
Doubtful | ' | 0 |
Financing Receivable, Individually Evaluated for Impairment | 1,260 | 1,365 |
Middle Market | Commercial Acquired loans (under ASC 310-20) [Member] | ' | ' |
Credit Quality Indicators [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 0 | ' |
Pass | 0 | ' |
Special Mention | 0 | ' |
Substandard | 0 | ' |
Doubtful | 0 | ' |
Financing Receivable, Individually Evaluated for Impairment | 0 | ' |
Retail | Non-covered originated loans [Member] | ' | ' |
Credit Quality Indicators [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 67,055 | 61,510 |
Pass | 63,366 | 58,742 |
Special Mention | 119 | 257 |
Substandard | 1,562 | 691 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 2,008 | 1,820 |
Retail | Commercial Acquired loans (under ASC 310-20) [Member] | ' | ' |
Credit Quality Indicators [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 17,216 | 27,338 |
Pass | 16,460 | 26,044 |
Special Mention | 100 | 150 |
Substandard | 656 | 1,144 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Floor Plan | Non-covered originated loans [Member] | ' | ' |
Credit Quality Indicators [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 25,682 | 37,646 |
Pass | 25,372 | 37,350 |
Special Mention | 202 | 188 |
Substandard | 108 | 108 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Floor Plan | Commercial Acquired loans (under ASC 310-20) [Member] | ' | ' |
Credit Quality Indicators [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 33,061 | 21,937 |
Pass | 32,998 | 21,769 |
Special Mention | 63 | 168 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Commercial and Industrial | Commercial Acquired loans (under ASC 310-20) [Member] | ' | ' |
Credit Quality Indicators [Line Items] | ' | ' |
Doubtful | 0 | ' |
Total Commercial subject to risk rating [Member] | ' | ' |
Credit Quality Indicators [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 1,241,722 | 1,205,338 |
Pass | 1,185,590 | 1,148,047 |
Special Mention | 22,613 | 23,481 |
Substandard | 5,752 | 5,664 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 27,767 | 28,146 |
Total Commercial subject to risk rating [Member] | Non-covered originated loans [Member] | ' | ' |
Credit Quality Indicators [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 1,170,145 | 1,127,657 |
Pass | 1,115,840 | 1,073,418 |
Special Mention | 22,205 | 22,720 |
Substandard | 4,333 | 3,373 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 27,767 | 28,146 |
Total Commercial subject to risk rating [Member] | Commercial Acquired loans (under ASC 310-20) [Member] | ' | ' |
Credit Quality Indicators [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 71,577 | 77,681 |
Pass | 69,750 | 74,629 |
Special Mention | 408 | 761 |
Substandard | 1,419 | 2,291 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | $0 | $0 |
Recovered_Sheet2
Allowance for Loan and Lease Losses (Risk category of gross non-covered loans not subject to risk rating ) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Not Subject To Risk Rating [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | $4,689,259 | $4,669,192 |
Non Covered Loan, Not Subject To Risk Ratings [Member] | ' | ' |
Not Subject To Risk Rating [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 1,693,496 | 1,631,641 |
0 - 29 Days Past Due | 1,416,347 | 1,362,392 |
30 - 59 Days Past Due | 86,591 | 85,475 |
60 - 89 Days Past Due | 28,901 | 28,939 |
90-119 Days Past Due | 15,681 | 18,766 |
120 - 364 Days Past Due | 36,614 | 31,979 |
365+ Days Past Due | 21,108 | 19,161 |
Financing Receivable, Individually Evaluated for Impairment | 88,254 | 84,929 |
Originated loans, not subject to risk rating [Member] | ' | ' |
Not Subject To Risk Rating [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 1,372,582 | 1,273,883 |
0 - 29 Days Past Due | 1,117,973 | 1,028,173 |
30 - 59 Days Past Due | 71,912 | 70,528 |
60 - 89 Days Past Due | 24,515 | 24,116 |
90-119 Days Past Due | 14,130 | 16,783 |
120 - 364 Days Past Due | 34,690 | 30,193 |
365+ Days Past Due | 21,108 | 19,161 |
Financing Receivable, Individually Evaluated for Impairment | 88,254 | 84,929 |
Originated loans, not subject to risk rating [Member] | Mortgages [Member] | ' | ' |
Not Subject To Risk Rating [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 782,150 | 766,265 |
0 - 29 Days Past Due | 579,912 | 564,310 |
30 - 59 Days Past Due | 36,001 | 43,034 |
60 - 89 Days Past Due | 15,117 | 14,027 |
90-119 Days Past Due | 10,309 | 12,943 |
120 - 364 Days Past Due | 31,978 | 28,316 |
365+ Days Past Due | 21,089 | 19,141 |
Financing Receivable, Individually Evaluated for Impairment | 87,744 | 84,494 |
Originated loans, not subject to risk rating [Member] | Conventional Loan [Member] | ' | ' |
Not Subject To Risk Rating [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 620,340 | 602,188 |
0 - 29 Days Past Due | 535,873 | 520,782 |
30 - 59 Days Past Due | 33,256 | 38,441 |
60 - 89 Days Past Due | 14,476 | 12,716 |
90-119 Days Past Due | 4,561 | 4,649 |
120 - 364 Days Past Due | 12,892 | 12,129 |
365+ Days Past Due | 6,184 | 4,441 |
Financing Receivable, Individually Evaluated for Impairment | 13,098 | 9,030 |
Originated loans, not subject to risk rating [Member] | Originated Up To The Year 2002 [Member] | ' | ' |
Not Subject To Risk Rating [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 72,096 | 76,512 |
0 - 29 Days Past Due | 61,268 | 64,743 |
30 - 59 Days Past Due | 5,230 | 6,594 |
60 - 89 Days Past Due | 2,621 | 1,634 |
90-119 Days Past Due | 382 | 868 |
120 - 364 Days Past Due | 1,037 | 1,082 |
365+ Days Past Due | 1,459 | 1,458 |
Financing Receivable, Individually Evaluated for Impairment | 99 | 133 |
Originated loans, not subject to risk rating [Member] | Originated In The Years 2003 And 2004 [Member] | ' | ' |
Not Subject To Risk Rating [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 63,515 | 65,117 |
0 - 29 Days Past Due | 53,170 | 56,283 |
30 - 59 Days Past Due | 5,494 | 4,722 |
60 - 89 Days Past Due | 2,445 | 1,938 |
90-119 Days Past Due | 484 | 56 |
120 - 364 Days Past Due | 1,246 | 1,437 |
365+ Days Past Due | 612 | 352 |
Financing Receivable, Individually Evaluated for Impairment | 64 | 329 |
Originated loans, not subject to risk rating [Member] | Originated In The Year 2005 [Member] | ' | ' |
Not Subject To Risk Rating [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 87,818 | 89,541 |
0 - 29 Days Past Due | 72,414 | 74,016 |
30 - 59 Days Past Due | 6,448 | 8,414 |
60 - 89 Days Past Due | 2,288 | 2,119 |
90-119 Days Past Due | 1,233 | 1,198 |
120 - 364 Days Past Due | 3,576 | 3,037 |
365+ Days Past Due | 1,324 | 573 |
Financing Receivable, Individually Evaluated for Impairment | 535 | 184 |
Originated loans, not subject to risk rating [Member] | Originated In The Year 2006 [Member] | ' | ' |
Not Subject To Risk Rating [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 116,904 | 120,322 |
0 - 29 Days Past Due | 97,822 | 99,243 |
30 - 59 Days Past Due | 10,151 | 12,055 |
60 - 89 Days Past Due | 4,376 | 4,312 |
90-119 Days Past Due | 1,169 | 1,148 |
120 - 364 Days Past Due | 2,410 | 2,755 |
365+ Days Past Due | 850 | 515 |
Financing Receivable, Individually Evaluated for Impairment | 126 | 294 |
Originated loans, not subject to risk rating [Member] | Originated In The Years 2007 2008 And 2009 [Member] | ' | ' |
Not Subject To Risk Rating [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 97,840 | 101,150 |
0 - 29 Days Past Due | 87,065 | 91,920 |
30 - 59 Days Past Due | 3,807 | 3,464 |
60 - 89 Days Past Due | 2,025 | 1,104 |
90-119 Days Past Due | 223 | 1,264 |
120 - 364 Days Past Due | 3,619 | 2,844 |
365+ Days Past Due | 875 | 554 |
Financing Receivable, Individually Evaluated for Impairment | 226 | 0 |
Originated loans, not subject to risk rating [Member] | Originated In The Years 2010 2011 2012 2013 And 2014 [Member] | ' | ' |
Not Subject To Risk Rating [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 182,167 | 149,546 |
0 - 29 Days Past Due | 164,134 | 134,577 |
30 - 59 Days Past Due | 2,126 | 3,192 |
60 - 89 Days Past Due | 721 | 1,609 |
90-119 Days Past Due | 1,070 | 115 |
120 - 364 Days Past Due | 1,004 | 974 |
365+ Days Past Due | 1,064 | 989 |
Financing Receivable, Individually Evaluated for Impairment | 12,048 | 8,090 |
Originated loans, not subject to risk rating [Member] | NonTraditional Mortgage [Member] | ' | ' |
Not Subject To Risk Rating [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 39,790 | 42,102 |
0 - 29 Days Past Due | 35,078 | 35,168 |
30 - 59 Days Past Due | 1,744 | 3,217 |
60 - 89 Days Past Due | 470 | 1,162 |
90-119 Days Past Due | 0 | 0 |
120 - 364 Days Past Due | 1,439 | 1,324 |
365+ Days Past Due | 986 | 833 |
Financing Receivable, Individually Evaluated for Impairment | 73 | 398 |
Originated loans, not subject to risk rating [Member] | Loss Mitigation Program Loan Exclude Individually Impairment Measure [Member] | ' | ' |
Not Subject To Risk Rating [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 86,005 | 86,318 |
0 - 29 Days Past Due | 8,366 | 7,762 |
30 - 59 Days Past Due | 1,001 | 1,376 |
60 - 89 Days Past Due | 171 | 149 |
90-119 Days Past Due | 219 | 624 |
120 - 364 Days Past Due | 779 | 312 |
365+ Days Past Due | 896 | 1,029 |
Financing Receivable, Individually Evaluated for Impairment | 74,573 | 75,066 |
Originated loans, not subject to risk rating [Member] | Home equity secured personal loans [Member] | ' | ' |
Not Subject To Risk Rating [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 733 | 736 |
0 - 29 Days Past Due | 595 | 598 |
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 0 | 0 |
90-119 Days Past Due | 0 | 0 |
120 - 364 Days Past Due | 126 | 126 |
365+ Days Past Due | 12 | 12 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Originated loans, not subject to risk rating [Member] | GNMA's Buy Back Option related | ' | ' |
Not Subject To Risk Rating [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 35,282 | 34,921 |
0 - 29 Days Past Due | 0 | 0 |
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 0 | 0 |
90-119 Days Past Due | 5,529 | 7,670 |
120 - 364 Days Past Due | 16,742 | 14,425 |
365+ Days Past Due | 13,011 | 12,826 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Originated loans, not subject to risk rating [Member] | Consumer Loan [Member] | ' | ' |
Not Subject To Risk Rating [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 142,492 | 127,744 |
0 - 29 Days Past Due | 138,340 | 124,046 |
30 - 59 Days Past Due | 2,123 | 1,962 |
60 - 89 Days Past Due | 839 | 652 |
90-119 Days Past Due | 360 | 443 |
120 - 364 Days Past Due | 301 | 186 |
365+ Days Past Due | 19 | 20 |
Financing Receivable, Individually Evaluated for Impairment | 510 | 435 |
Originated loans, not subject to risk rating [Member] | Credit Cards [Member] | ' | ' |
Not Subject To Risk Rating [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 15,490 | 15,241 |
0 - 29 Days Past Due | 14,701 | 14,555 |
30 - 59 Days Past Due | 263 | 287 |
60 - 89 Days Past Due | 171 | 168 |
90-119 Days Past Due | 136 | 118 |
120 - 364 Days Past Due | 219 | 113 |
365+ Days Past Due | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Originated loans, not subject to risk rating [Member] | Overdrafts [Member] | ' | ' |
Not Subject To Risk Rating [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 331 | 372 |
0 - 29 Days Past Due | 289 | 322 |
30 - 59 Days Past Due | 28 | 46 |
60 - 89 Days Past Due | 11 | 4 |
90-119 Days Past Due | 1 | 0 |
120 - 364 Days Past Due | 2 | 0 |
365+ Days Past Due | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Originated loans, not subject to risk rating [Member] | Unsecured personal lines of credit [Member] | ' | ' |
Not Subject To Risk Rating [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 1,934 | 1,981 |
0 - 29 Days Past Due | 1,718 | 1,844 |
30 - 59 Days Past Due | 60 | 33 |
60 - 89 Days Past Due | 99 | 38 |
90-119 Days Past Due | 15 | 25 |
120 - 364 Days Past Due | 35 | 34 |
365+ Days Past Due | 7 | 7 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Originated loans, not subject to risk rating [Member] | Unsecured personal loans [Member] | ' | ' |
Not Subject To Risk Rating [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 108,037 | 94,560 |
0 - 29 Days Past Due | 105,369 | 92,102 |
30 - 59 Days Past Due | 1,397 | 1,272 |
60 - 89 Days Past Due | 512 | 399 |
90-119 Days Past Due | 195 | 300 |
120 - 364 Days Past Due | 42 | 39 |
365+ Days Past Due | 12 | 13 |
Financing Receivable, Individually Evaluated for Impairment | 510 | 435 |
Originated loans, not subject to risk rating [Member] | Cash collateral personal loans [Member] | ' | ' |
Not Subject To Risk Rating [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 16,700 | 15,590 |
0 - 29 Days Past Due | 16,263 | 15,223 |
30 - 59 Days Past Due | 375 | 324 |
60 - 89 Days Past Due | 46 | 43 |
90-119 Days Past Due | 13 | 0 |
120 - 364 Days Past Due | 3 | 0 |
365+ Days Past Due | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Originated loans, not subject to risk rating [Member] | Auto and Leasing loans receivable [Member] | ' | ' |
Not Subject To Risk Rating [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 447,940 | 379,874 |
0 - 29 Days Past Due | 399,721 | 339,817 |
30 - 59 Days Past Due | 33,788 | 25,532 |
60 - 89 Days Past Due | 8,559 | 9,437 |
90-119 Days Past Due | 3,461 | 3,397 |
120 - 364 Days Past Due | 2,411 | 1,691 |
365+ Days Past Due | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Accounted For Under ASC 310-20, not subject to risk rating [Member] | ' | ' |
Not Subject To Risk Rating [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 320,914 | 357,758 |
0 - 29 Days Past Due | 298,374 | 334,219 |
30 - 59 Days Past Due | 14,679 | 14,947 |
60 - 89 Days Past Due | 4,386 | 4,823 |
90-119 Days Past Due | 1,551 | 1,983 |
120 - 364 Days Past Due | 1,924 | 1,786 |
365+ Days Past Due | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Accounted For Under ASC 310-20, not subject to risk rating [Member] | Consumer Loan [Member] | ' | ' |
Not Subject To Risk Rating [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 52,049 | 56,174 |
0 - 29 Days Past Due | 47,534 | 50,394 |
30 - 59 Days Past Due | 1,518 | 2,413 |
60 - 89 Days Past Due | 864 | 1,207 |
90-119 Days Past Due | 747 | 888 |
120 - 364 Days Past Due | 1,386 | 1,272 |
365+ Days Past Due | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Accounted For Under ASC 310-20, not subject to risk rating [Member] | Credit Cards [Member] | ' | ' |
Not Subject To Risk Rating [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 48,381 | 52,199 |
0 - 29 Days Past Due | 44,111 | 46,713 |
30 - 59 Days Past Due | 1,413 | 2,217 |
60 - 89 Days Past Due | 781 | 1,200 |
90-119 Days Past Due | 743 | 828 |
120 - 364 Days Past Due | 1,333 | 1,241 |
365+ Days Past Due | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Accounted For Under ASC 310-20, not subject to risk rating [Member] | Unsecured personal loans [Member] | ' | ' |
Not Subject To Risk Rating [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 3,668 | 3,975 |
0 - 29 Days Past Due | 3,423 | 3,681 |
30 - 59 Days Past Due | 105 | 196 |
60 - 89 Days Past Due | 83 | 7 |
90-119 Days Past Due | 4 | 60 |
120 - 364 Days Past Due | 53 | 31 |
365+ Days Past Due | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Accounted For Under ASC 310-20, not subject to risk rating [Member] | Automobile Loan [Member] | ' | ' |
Not Subject To Risk Rating [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 268,865 | 301,584 |
0 - 29 Days Past Due | 250,840 | 283,825 |
30 - 59 Days Past Due | 13,161 | 12,534 |
60 - 89 Days Past Due | 3,522 | 3,616 |
90-119 Days Past Due | 804 | 1,095 |
120 - 364 Days Past Due | 538 | 514 |
365+ Days Past Due | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | $0 | $0 |
Recovered_Sheet3
Allowance for Loan and Lease Losses (Allowance for Covered Loan and Lease Losses) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' |
Balance at beginning of the period | $52,729 | $54,124 |
Provision for covered loan and lease losses, net | 1,629 | 672 |
FDIC shared-loss portion of provision for (recapture of) covered loan and lease losses, net | 40 | -1,822 |
Balance at end of the period | $54,398 | $52,974 |
Recovered_Sheet4
Allowance for Loan and Lease Losses (Recorded Investment in Covered Loan Pools) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Covered Loan [Member] | Covered Loan [Member] | Loans Secured by 1-4 properties | Loans Secured by 1-4 properties | Construction and development secured by multi-family properties [Member] | Construction and development secured by multi-family properties [Member] | Other Commercial and Industrial[Member] | Other Commercial and Industrial[Member] | Consumer Loan [Member] | Consumer Loan [Member] | ||||
Covered Loan [Member] | Covered Loan [Member] | Covered Loan [Member] | Covered Loan [Member] | Covered Loan [Member] | Covered Loan [Member] | Covered Loan [Member] | Covered Loan [Member] | |||||||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unpaid Principal | ' | ' | ' | ' | $415,110 | $338,257 | $147,597 | $52,142 | $65,747 | $66,037 | $192,095 | $209,566 | $9,671 | $10,512 |
Recorded Investment | ' | ' | ' | ' | 246,846 | 173,286 | 111,410 | 38,179 | 18,254 | 17,304 | 111,679 | 111,946 | 5,503 | 5,857 |
Allowance for loan and lease losses, covered | $54,398 | $52,729 | $52,974 | $54,124 | $54,398 | $52,729 | $14,221 | $12,495 | $6,866 | $6,866 | $32,696 | $32,753 | $615 | $615 |
Coverage | ' | ' | ' | ' | 22.00% | 30.00% | 13.00% | 33.00% | 38.00% | 40.00% | 29.00% | 29.00% | 11.00% | 11.00% |
FDIC_Loss_Share_Asset_and_True2
FDIC Loss Share Asset and True-up Payment Obligation (Narrative) (Details) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2014 |
FDIC-Assisted Acquisition and FDIC Shared-Loss Indemnification Asset [Abstract] | ' |
Percent Of Losses Fdic Absorbs | 80.00% |
Percent Of Losses Recoveries Fdic Shares | 80.00% |
Acquisition Date | 30-Apr-10 |
True-Up Payment Description | 'The Bank agreed to make a true-up payment, also known as clawback liability or clawback provision, to the FDIC on the date that is 45 days following the last day (such day, the “True-Up Measurement Date”) of the final shared-loss month, or upon the final disposition of all covered assets under the shared-loss agreements in the event losses thereunder fail to reach expected levels. Under the shared-loss agreements, the Bank will pay to the FDIC 50% of the excess, if any, of: (i) 20% of the Intrinsic Loss Estimate of $906.0 million (or $181.2 million) (as determined by the FDIC) less (ii) the sum of: (A) 25% of the asset discount (per bid) (or $227.5 million); plus (B) 25% of the cumulative shared-loss payments (defined as the aggregate of all of the payments made or payable to the Bank minus the aggregate of all of the payments made or payable to the FDIC); plus (C) the sum of the period servicing amounts for every consecutive twelve-month period prior to and ending on the True-Up Measurement Date in respect of each of the shared-loss agreements during which the shared-loss provisions of the applicable shared-loss agreement is in effect (defined as the product of the simple average of the principal amount of shared-loss loans and shared-loss assets at the beginning and end of such period times 1%) |
Additional amortization of the FDIC indemnification asset | $3.50 |
FDIC_Loss_Share_Asset_and_True3
FDIC Loss Share Asset and True-up Payment Obligation (FDIC Indemnification Asset Roll Forward) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
FDIC Indemnification Asset [Roll Forward] | ' | ' |
Balance | $189,240 | $302,295 |
Shared-loss agreements reimbursements from the FDIC | 8,236 | 6,650 |
Increase (decrease) in expected credit losses to be covered under shared-loss agreements, net | 40 | -1,822 |
FDIC shared-loss asset, expense | -17,622 | -12,201 |
Incurred expenses to be reimbursed under shared-loss agreements | 2,772 | 1,502 |
Balance | 166,194 | 283,124 |
True-up payment obligation [Roll Forward] | ' | ' |
Balance | 18,510 | 15,496 |
FDIC shared loss expense | 865 | 670 |
Balance | $19,375 | $16,166 |
Derivative_Activities_Narrativ
Derivative Activities (Narratives) (Details) (USD $) | 3 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Unrealized Gain (Loss) on Interest Rate Cash Flow Hedges, Pretax, Accumulated Other Comprehensive Income (Loss) | $378,000 | $1,462,000 | ' |
Notional Amount Purchased Option | 23,800,000 | ' | 28,000,000 |
Embedded Derivative, Fair Value of Embedded Derivative Liability | 12,100,000 | ' | 15,700,000 |
Notional Amount Embedded Option | 22,900,000 | ' | 26,900,000 |
Interest Rate Cap [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Derivative, Notional Amount | 110,000,000 | ' | 110,000,000 |
Unrealized Gain (Loss) on Interest Rate Cash Flow Hedges, Pretax, Accumulated Other Comprehensive Income (Loss) | $10,500,000 | ' | ' |
Derivative_Activities_Derivati
Derivative Activities (Derivative Assets and Liabilities) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Derivative Assets Liabilities At Fair Value Net [Line Items] | ' | ' |
Derivative Assets | $15,861 | $20,502 |
Derivative Liabilities | 13,830 | 14,937 |
Options tied to Standard & Poor 500 Stock Market Index [Member] | ' | ' |
Derivative Assets Liabilities At Fair Value Net [Line Items] | ' | ' |
Derivative Assets | 12,555 | 16,430 |
Designated as Hedging Instrument [Member] | ' | ' |
Derivative Assets Liabilities At Fair Value Net [Line Items] | ' | ' |
Derivative Assets | 166 | 850 |
Derivative Liabilities | 10,695 | 11,757 |
Not Designated as Hedging Instrument [Member] | ' | ' |
Derivative Assets Liabilities At Fair Value Net [Line Items] | ' | ' |
Derivative Assets | 2,755 | 2,861 |
Derivative Liabilities | 2,755 | 2,861 |
Interest Rate Cap [Member] | ' | ' |
Derivative Assets Liabilities At Fair Value Net [Line Items] | ' | ' |
Derivative Assets | 374 | 319 |
Derivative Liabilities | 374 | 319 |
Other derivative | ' | ' |
Derivative Assets Liabilities At Fair Value Net [Line Items] | ' | ' |
Derivative Assets | 11 | 42 |
Derivative Liabilities | $6 | $0 |
Derivative_Activities_Interest
Derivative Activities (Interest rate swap and their term) (Details) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 |
Interest rate swap designated as cash flow hedges | ' |
Derivative [Line Items] | ' |
Amount | $265,277 |
Interest rate swap designated as cash flow hedges | Rate 2.4365% [Member] | ' |
Derivative [Line Items] | ' |
Amount | 25,000 |
Fixed rate | 2.44% |
Trade Date | 5-May-11 |
Settlement Date | 4-May-12 |
Maturity Date | 4-May-16 |
Interest rate swap designated as cash flow hedges | Rate 2.6200% [Member] | ' |
Derivative [Line Items] | ' |
Amount | 25,000 |
Fixed rate | 2.62% |
Trade Date | 5-May-11 |
Settlement Date | 24-Jul-12 |
Maturity Date | 24-Jul-16 |
Interest rate swap designated as cash flow hedges | Rate 2.6350% [Member] | ' |
Derivative [Line Items] | ' |
Amount | 25,000 |
Fixed rate | 2.64% |
Trade Date | 5-May-11 |
Settlement Date | 30-Jul-12 |
Maturity Date | 30-Jul-16 |
Interest rate swap designated as cash flow hedges | Rate 2.6590% [Member] | ' |
Derivative [Line Items] | ' |
Amount | 50,000 |
Fixed rate | 2.66% |
Trade Date | 5-May-11 |
Settlement Date | 10-Aug-12 |
Maturity Date | 10-Aug-16 |
Interest rate swap designated as cash flow hedges | Rate 2.6750% [Member] | ' |
Derivative [Line Items] | ' |
Amount | 100,000 |
Fixed rate | 2.68% |
Trade Date | 5-May-11 |
Settlement Date | 16-Aug-12 |
Maturity Date | 16-Aug-16 |
Interest rate swap designated as cash flow hedges | Rate 2.4210% [Member] | ' |
Derivative [Line Items] | ' |
Amount | 40,277 |
Fixed rate | 2.42% |
Trade Date | 3-Jul-13 |
Settlement Date | 3-Jul-13 |
Maturity Date | 1-Aug-23 |
Interest rate swaps not designated as hedges - offered to clients | ' |
Derivative [Line Items] | ' |
Amount | 16,594 |
Interest rate swaps not designated as hedges - offered to clients | ' |
Derivative [Line Items] | ' |
Amount | $16,594 |
Derivative_Activities_Interest1
Derivative Activities (Interest rate swap not designated as hedging instruments and their term) (Details) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 |
Derivatives Offered to Clients [Member] | ' |
Derivative [Line Items] | ' |
Amount | $16,594 |
Derivatives Offered to Clients [Member] | Rate 5.13% [Member] | ' |
Derivative [Line Items] | ' |
Amount | 4,094 |
Fixed rate | 5.13% |
Settlement Date | 3-Jul-06 |
Maturity Date | 3-Jul-16 |
Derivatives Offered to Clients [Member] | Rate 5.51% [Member] | ' |
Derivative [Line Items] | ' |
Amount | 12,500 |
Fixed rate | 5.51% |
Settlement Date | 11-Apr-09 |
Maturity Date | 11-Apr-19 |
Mirror Image Derivatives [Member] | ' |
Derivative [Line Items] | ' |
Amount | 16,594 |
Mirror Image Derivatives [Member] | Rate 5.13% [Member] | ' |
Derivative [Line Items] | ' |
Amount | 4,094 |
Fixed rate | 5.13% |
Settlement Date | 3-Jul-06 |
Maturity Date | 3-Jul-16 |
Mirror Image Derivatives [Member] | Rate 5.51% [Member] | ' |
Derivative [Line Items] | ' |
Amount | $12,500 |
Fixed rate | 5.51% |
Settlement Date | 11-Apr-09 |
Maturity Date | 11-Apr-19 |
Accrued_Interest_and_Other_Ass
Accrued Interest and Other Assets (Narratives) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 18, 2012 |
Other assets [Line Items] | ' | ' | ' |
Prepaid Taxes | $9,000,000 | $9,600,000 | ' |
Mortgage tax credits | 8,706,000 | 8,706,000 | ' |
Repossessed auto | 13,700,000 | 12,300,000 | ' |
CoreDepositsMember | Eurobank [Member] | ' | ' | ' |
Other assets [Line Items] | ' | ' | ' |
Other Intangible Assets | 7,500,000 | 7,800,000 | ' |
Customer Relationships [Member] | BBVAPR | ' | ' | ' |
Other assets [Line Items] | ' | ' | ' |
Other Intangible Assets | $3,900,000 | $4,100,000 | $5,000,000 |
Accrued_Interest_Receivable_an2
Accrued Interest Receivable and Other Assets (Accrued Interest)(Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accounts Receivable Net Abstract | ' | ' |
Accrued Interest Receivable On Non Covered Loans | $14,440 | $13,378 |
Accrued Investment Income Receivable | $4,529 | $5,356 |
Accrued_Interest_and_Other_Ass1
Accrued Interest and Other Assets (Other assets) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | |||
Other asset | ' | ' | ' |
Other prepaid expenses | $15,531 | $15,439 | ' |
Core deposit intangible and customer relationship intangibles | 11,370 | 11,912 | ' |
Other Foreclosed Assets | 13,964 | 12,583 | ' |
Mortgage tax credits | 8,706 | 8,706 | ' |
Investment in Statutory Trust | 1,083 | 1,083 | ' |
Accounts receivable and other assets | 43,689 | 48,717 | ' |
Other assets | $94,343 | $98,440 | $98,440 |
Deposits_and_Related_Interest_1
Deposits and Related Interest (Narratives) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Deposits [Abstract] | ' | ' |
Weighted Average Rate Domestic Deposit | 0.68% | 0.73% |
Puerto Rico Cash & Money Market Fund Deposits | $97,900,000 | $93,100,000 |
Puerto Rico Cash & Money Market Fund Deposits Weighted Average Rate | 0.77% | 0.77% |
Puerto Rico Cash & Money Market Fund Deposits Collateral | 77,200,000 | 67,500,000 |
Time Deposits, $100,000 or More | 769,100,000 | 845,800,000 |
Public Fund Time Deposits, $100,000 or more | 6,800,000 | 26,700,000 |
Public Fund Time Deposits Weighted Average Rate, $100,000 or more | 0.49% | 0.32% |
Public Fund Time Deposits Collateral Investments | ' | 97,800,000 |
Public Fund Time Deposits Collateral Commercial Loans | 547,300,000 | 549,000,000 |
Accrued Interest, Time Deposits | 1,700,000 | ' |
Unamortized deposit discounts | 3,300,000 | ' |
Bank Overdrafts | 734,000 | 1,800,000 |
Brokered Certificates of Deposits | 617,700,000 | 729,800,000 |
Brokered Money Market Deposit | $95,200,000 | $98,300,000 |
Deposits_and_Related_Interest_2
Deposits and Related Interest (Deposits by Components) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Deposits, by Component, Alternative [Abstract] | ' | ' |
Noninterest-bearing demand deposit | $755,909 | $550,302 |
Interest-bearing saving and demand deposits | 2,604,664 | 2,683,996 |
Individual Retirement Account | 338,719 | 347,262 |
Retail certificates of deposists | 556,928 | 598,367 |
Institutional certificates of deposits | 331,859 | 375,224 |
Total Core Deposits | 4,588,079 | 4,555,151 |
Brokered Deposists | $712,913 | $828,114 |
Deposits_and_Related_Interest_3
Deposits and Related Interest (Interest expense) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Interest Expense Domestic Deposit Liabilities [Abstract] | ' | ' |
Demand and saving deposits | $5,028 | $5,962 |
Certificates of Deposits | 3,950 | 3,973 |
Total | $8,978 | $9,935 |
Deposits_and_Related_Interest_4
Deposits and Related Interest (Maturities of Time Deposits) (Details) (USD $) | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |
Maturities of Time Deposits [Abstract] | ' |
Time Deposit Maturities Less Than Three Month | $303,340 |
Time Deposit Maturities Three To Twelve Month | 780,260 |
Total Time deposits | 1,083,600 |
Time Deposit Maturities, Year Two | 351,142 |
Time Deposit Maturities, Year Three | 257,750 |
Time Deposit Maturities, Year Four | 84,607 |
Time Deposit Maturities, Year Five | 52,029 |
Certificates of deposit | $1,829,128 |
Borrowings_Narrative_Details
Borrowings (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2014 | Dec. 31, 2013 | |
Debt Instrument [Line Items] | ' | ' |
Other borrowings | $3,708,000 | $3,663,000 |
Federal Home Loan Bank Advances [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Loans Receivable, Gross, Commercial, Mortgage | 1,200,000,000 | 1,300,000,000 |
Additional Borrowing Capacity | 614,100,000 | 674,200,000 |
Weighted average period remaining maturity of FHLB advances | '10.7 months | '11.3 months |
Interest Payable | 327,000 | ' |
Unsecured Debt [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt, Weighted Average Interest Rate | 3.00% | 3.00% |
Other borrowings | 1,700,000 | 1,700,000 |
Index Appreciation | 995,000 | 957,000 |
Term Notes | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Other borrowings | 1,000,000 | 1,000,000 |
Repurchase agreement | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Interest Payable | $2,200,000 | $2,600,000 |
Federal Funds Purchased Member | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt, Weighted Average Interest Rate | 0.24% | ' |
Borrowings_Securities_Sold_Und
Borrowings (Securities Sold Under Agreement to Repurchase by Counterparties) (Details) (Securities Sold under Agreements to Repurchase [Member], USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Borrowed fund | $1,010,000 | $1,265,000 |
Fair Value of Underlying Collateral | 1,133,922 | 1,409,535 |
Jp Morgan Chase Bank Na [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Borrowed fund | 255,000 | 255,000 |
Fair Value of Underlying Collateral | 273,834 | 273,250 |
Credit Suisse Securities LLC [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Borrowed fund | 755,000 | 755,000 |
Fair Value of Underlying Collateral | 860,088 | 864,232 |
Deutsche Bank [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Borrowed fund | 0 | 255,000 |
Fair Value of Underlying Collateral | $0 | $272,053 |
Borrowings_Repurchase_Agreemen
Borrowings (Repurchase Agreements) (Details) (Securities Sold under Agreements to Repurchase [Member], USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | Due date: 12 3 2014 [Member] | Due date: 6 13 2015 [Member] | Due date: 12 8 2016 [Member] | Due date: 3 2 2017 [Member] | ||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' |
Borrowing Balance | $1,010,000 | $1,265,000 | $85,000 | $255,000 | $170,000 | $500,000 |
Weighted Average Coupon | 2.89% | ' | 0.68% | 0.84% | 1.50% | 4.78% |
Settlement Date | ' | ' | 3-Dec-12 | 10-Dec-12 | 6-Dec-12 | 2-Mar-07 |
Investment Repurchase Agreement, Repurchase Date | ' | ' | 3-Dec-14 | 13-Jun-15 | 8-Dec-16 | 2-Mar-17 |
Borrowings_Repurchase_Transact
Borrowings (Repurchase Transaction Liability and Market Value of its Underlying Collateral) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets Sold Under Agreements To Repurchase Line Items | ' | ' |
Assets Sold Under Agreements To Repurchase Repurchase Liability | $1,010,000 | $1,265,000 |
Assets Sold Under Agreements To Repurchase Interest Rate | 2.89% | ' |
Market value of underlying collateral of a repurchase agreement | 1,133,922 | 1,342,505 |
FNMA and FHLMC [Member] | ' | ' |
Assets Sold Under Agreements To Repurchase Line Items | ' | ' |
Market value of underlying collateral of a repurchase agreement | 1,061,519 | 1,234,833 |
Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | ' | ' |
Assets Sold Under Agreements To Repurchase Line Items | ' | ' |
Market value of underlying collateral of a repurchase agreement | 2,403 | 3,000 |
Collateralized Mortgage Obligations [Member] | ' | ' |
Assets Sold Under Agreements To Repurchase Line Items | ' | ' |
Market value of underlying collateral of a repurchase agreement | 0 | 94,023 |
US Government-sponsored Enterprises Debt Securities [Member] | ' | ' |
Assets Sold Under Agreements To Repurchase Line Items | ' | ' |
Market value of underlying collateral of a repurchase agreement | 70,000 | 10,649 |
Securities Sold under Agreements to Repurchase [Member] | ' | ' |
Assets Sold Under Agreements To Repurchase Line Items | ' | ' |
Assets Sold Under Agreements To Repurchase Interest Rate | ' | 2.41% |
Securities Sold under Agreements to Repurchase [Member] | Maturity up to 30 days | ' | ' |
Assets Sold Under Agreements To Repurchase Line Items | ' | ' |
Assets Sold Under Agreements To Repurchase Repurchase Liability | ' | 255,000 |
Assets Sold Under Agreements To Repurchase Interest Rate | ' | 0.50% |
Market value of underlying collateral of a repurchase agreement | ' | 272,053 |
Securities Sold under Agreements to Repurchase [Member] | Maturity up to 30 days | FNMA and FHLMC [Member] | ' | ' |
Assets Sold Under Agreements To Repurchase Line Items | ' | ' |
Market value of underlying collateral of a repurchase agreement | ' | 216,201 |
Securities Sold under Agreements to Repurchase [Member] | Maturity up to 30 days | Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | ' | ' |
Assets Sold Under Agreements To Repurchase Line Items | ' | ' |
Market value of underlying collateral of a repurchase agreement | ' | 0 |
Securities Sold under Agreements to Repurchase [Member] | Maturity up to 30 days | Collateralized Mortgage Obligations [Member] | ' | ' |
Assets Sold Under Agreements To Repurchase Line Items | ' | ' |
Market value of underlying collateral of a repurchase agreement | ' | 48,923 |
Securities Sold under Agreements to Repurchase [Member] | Maturity up to 30 days | US Government-sponsored Enterprises Debt Securities [Member] | ' | ' |
Assets Sold Under Agreements To Repurchase Line Items | ' | ' |
Market value of underlying collateral of a repurchase agreement | ' | 6,929 |
Securities Sold under Agreements to Repurchase [Member] | Maturity over 90 days | ' | ' |
Assets Sold Under Agreements To Repurchase Line Items | ' | ' |
Assets Sold Under Agreements To Repurchase Repurchase Liability | 1,010,000 | 1,010,000 |
Assets Sold Under Agreements To Repurchase Interest Rate | 2.89% | 2.89% |
Market value of underlying collateral of a repurchase agreement | 1,133,922 | 1,070,452 |
Securities Sold under Agreements to Repurchase [Member] | Maturity over 90 days | FNMA and FHLMC [Member] | ' | ' |
Assets Sold Under Agreements To Repurchase Line Items | ' | ' |
Market value of underlying collateral of a repurchase agreement | 1,061,519 | 1,018,632 |
Securities Sold under Agreements to Repurchase [Member] | Maturity over 90 days | Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | ' | ' |
Assets Sold Under Agreements To Repurchase Line Items | ' | ' |
Market value of underlying collateral of a repurchase agreement | 2,403 | 3,000 |
Securities Sold under Agreements to Repurchase [Member] | Maturity over 90 days | Collateralized Mortgage Obligations [Member] | ' | ' |
Assets Sold Under Agreements To Repurchase Line Items | ' | ' |
Market value of underlying collateral of a repurchase agreement | 0 | 45,100 |
Securities Sold under Agreements to Repurchase [Member] | Maturity over 90 days | US Government-sponsored Enterprises Debt Securities [Member] | ' | ' |
Assets Sold Under Agreements To Repurchase Line Items | ' | ' |
Market value of underlying collateral of a repurchase agreement | $70,000 | $3,720 |
Borrowings_Advances_from_the_F
Borrowings (Advances from the Federal Home Loan Bank) (Details) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 |
Advances From Federal Home Loan Banks [Line Items] | ' |
FHLB, Weighted Average Interest Rate | 0.75% |
Federal Home Loan Bank Advances [Member] | ' |
Advances From Federal Home Loan Banks [Line Items] | ' |
Borrowed fund | $335,363 |
Federal Home Loan Bank Advances [Member] | April 3 2017 [Member] | Four Million [Member] | ' |
Advances From Federal Home Loan Banks [Line Items] | ' |
Borrowed fund | 4,673 |
FHLB, Weighted Average Interest Rate | 1.24% |
Settlement Date | 3-Apr-12 |
Maturity Date | 3-Apr-17 |
Federal Home Loan Bank Advances [Member] | January 16, 2018 [Member] | Twenty Five Millions [Member] | ' |
Advances From Federal Home Loan Banks [Line Items] | ' |
Borrowed fund | 25,000 |
FHLB, Weighted Average Interest Rate | 2.18% |
Settlement Date | 16-Jan-13 |
Maturity Date | 16-Jan-18 |
Federal Home Loan Bank Advances [Member] | January 16, 2018 [Member] | Thirty Million [Member] | ' |
Advances From Federal Home Loan Banks [Line Items] | ' |
Borrowed fund | 30,000 |
FHLB, Weighted Average Interest Rate | 2.19% |
Settlement Date | 16-Jan-13 |
Maturity Date | 16-Jan-18 |
Federal Home Loan Bank Advances [Member] | July 20, 2020 [Member] | Eleven Million [Member] | ' |
Advances From Federal Home Loan Banks [Line Items] | ' |
Borrowed fund | 10,413 |
FHLB, Weighted Average Interest Rate | 2.59% |
Settlement Date | 19-Jul-13 |
Maturity Date | 20-Jul-20 |
Federal Loan Home Bank Advances Short Term Period Matured [Member] | April 4, 2014 [Member] | Twenty Five Millions [Member] | ' |
Advances From Federal Home Loan Banks [Line Items] | ' |
Borrowed fund | 25,000 |
FHLB, Weighted Average Interest Rate | 0.37% |
Settlement Date | 4-Mar-14 |
Maturity Date | 4-Apr-14 |
Federal Loan Home Bank Advances Short Term Period Matured [Member] | April 10, 2014 [Member] | Fifty Millions [Member] | ' |
Advances From Federal Home Loan Banks [Line Items] | ' |
Borrowed fund | 50,000 |
FHLB, Weighted Average Interest Rate | 0.39% |
Settlement Date | 10-Mar-14 |
Maturity Date | 10-Apr-14 |
Federal Loan Home Bank Advances Short Term Period Matured [Member] | April 16, 2014 [Member] | One Hundred Millions [Member] | ' |
Advances From Federal Home Loan Banks [Line Items] | ' |
Borrowed fund | 100,000 |
FHLB, Weighted Average Interest Rate | 0.38% |
Settlement Date | 17-Mar-14 |
Maturity Date | 16-Apr-14 |
Federal Loan Home Bank Advances Short Term Period Matured [Member] | April 24, 2014 [Member] | Twenty Five Millions [Member] | ' |
Advances From Federal Home Loan Banks [Line Items] | ' |
Borrowed fund | 25,000 |
FHLB, Weighted Average Interest Rate | 0.36% |
Settlement Date | 24-Mar-14 |
Maturity Date | 24-Apr-14 |
Federal Loan Home Bank Advances Short Term Period Matured [Member] | April 30, 2014 [Member] | Twenty Five Millions [Member] | ' |
Advances From Federal Home Loan Banks [Line Items] | ' |
Borrowed fund | 25,000 |
FHLB, Weighted Average Interest Rate | 0.36% |
Settlement Date | 31-Mar-14 |
Maturity Date | 30-Apr-14 |
Federal Loan Home Bank Advances Short Term Period Matured [Member] | April 1, 2014 [Member] | Fourty Million [Member] | ' |
Advances From Federal Home Loan Banks [Line Items] | ' |
Borrowed fund | $40,277 |
FHLB, Weighted Average Interest Rate | 0.37% |
Settlement Date | 3-Mar-14 |
Maturity Date | 1-Apr-14 |
Borrowings_Redemption_Fund_Det
Borrowings (Redemption Fund) (Details) (Redemption Fund [Member], USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Redemption Fund [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Redemption fund - March 31, 2014 | $48,575 | ' |
2014 | 6,700 | ' |
2015 | 6,700 | ' |
2016 | 5,025 | ' |
Total | ' | $67,000 |
Borrowings_Federal_fund_purcha
Borrowings (Federal fund purchased) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Disclosure Of Federal Fund Purchased [Line Items] | ' | ' |
Federal Funds Purchased | $23,712 | $0 |
Offsetting_Arrangements_Assets
Offsetting Arrangements (Assets Offsetting) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Offsetting Assets [Line Items] | ' | ' |
Gross Amount of Recognized Assets | $15,861 | $80,502 |
Gross amounts Offset in the Statement of Financial Condition | 0 | 0 |
Net Amount of Assets in Statement of Financial Condition | 15,861 | 80,502 |
Financial Instruments | 6,814 | 67,037 |
Cash Collateral Received | 0 | 6,780 |
Net Amount | 9,047 | 6,685 |
Derivative | ' | ' |
Offsetting Assets [Line Items] | ' | ' |
Gross Amount of Recognized Assets | 15,861 | 20,502 |
Gross amounts Offset in the Statement of Financial Condition | 0 | 0 |
Net Amount of Assets in Statement of Financial Condition | 15,861 | 20,502 |
Financial Instruments | 6,814 | 2,450 |
Cash Collateral Received | 0 | 6,780 |
Net Amount | 9,047 | 11,272 |
Federal Funds Sold and Securities Borrowed or Purchased under Agreements to Resell | ' | ' |
Offsetting Assets [Line Items] | ' | ' |
Gross Amount of Recognized Assets | ' | 60,000 |
Gross amounts Offset in the Statement of Financial Condition | ' | 0 |
Net Amount of Assets in Statement of Financial Condition | ' | 60,000 |
Financial Instruments | ' | 64,587 |
Cash Collateral Received | ' | 0 |
Net Amount | ' | ($4,587) |
Offsetting_Arrangement_Liabili
Offsetting Arrangement (Liabilities Offsetting) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Offsetting Liabilities [Line Items] | ' | ' |
Gross amount of Recognized Liabilities | $1,035,950 | $1,295,672 |
Gross amount Offset in the Statement of Financial Condition | 0 | 0 |
Net Amount of Liabilities Presented in the Statement of Financial Condition | 1,035,950 | 1,295,672 |
Financial Instruments | 1,133,922 | 1,277,919 |
Cash Collateral Provided | 2,980 | 69,378 |
Net Amount | -100,952 | -51,625 |
Derivative Financial Instruments, Liabilities [Member] | ' | ' |
Offsetting Liabilities [Line Items] | ' | ' |
Gross amount of Recognized Liabilities | 25,950 | 30,672 |
Gross amount Offset in the Statement of Financial Condition | 0 | 0 |
Net Amount of Liabilities Presented in the Statement of Financial Condition | 25,950 | 30,672 |
Financial Instruments | 0 | 0 |
Cash Collateral Provided | 2,980 | 2,349 |
Net Amount | 22,970 | 28,323 |
Securities Loaned or Sold under Agreements to Repurchase | ' | ' |
Offsetting Liabilities [Line Items] | ' | ' |
Gross amount of Recognized Liabilities | 1,010,000 | 1,265,000 |
Gross amount Offset in the Statement of Financial Condition | 0 | 0 |
Net Amount of Liabilities Presented in the Statement of Financial Condition | 1,010,000 | 1,265,000 |
Financial Instruments | 1,133,922 | 1,277,919 |
Cash Collateral Provided | 0 | 67,029 |
Net Amount | ($123,922) | ($79,948) |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Loans and Leases Receivable, Related Parties [Roll Forward] | ' | ' |
Balance | $18,963 | $3,772 |
New loans | 0 | 2,435 |
Repayments | 304 | -95 |
Loans And Leases Receivable Related Parties Disposal | 0 | -57 |
Balance | $19,267 | $6,055 |
Income_Taxes_Narratives_Detail
Income Taxes (Narratives) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | |
Income Taxes [Abstract] | ' | ' | ' |
Changes due to tax law enacted, Description | 'On June 30, 2013 the Governor signed Act No. 40-2013, known as “Ley de Redistribución y Ajuste de la Carga Contributiva” (Act of Redistribution and Adjustment of Tax Burden), as amended. The main purpose of the Act is to increase government collections in order to alleviate the structural deficit. The most relevant provisions of the Act, as applicable to the Company, and effective for taxable years beginning after December 31,2012 are as follows: (1) the maximum Corporate Income Tax rate was increased from 30% to 39%; (2) the deduction allowed for determining the income subject to surtax was reduced from $750,000 to $25,000 (which must be allocated among the members of a controlled group of corporations); (3) the allowable Net Operating Loss (“NOL”) deduction was reduced to (i) 90% of the corporation’s net income subject to regular tax for purposes of computing the regular income tax, and (ii) 80% of the alternative minimum taxable income for purposes of computing the alternative minimum tax (“AMT”); (4) the NOL carryover period was extended from 10 to 12 years for NOLs incurred in taxable years beginning after December 31, 2004 and before January 1, 2013, and from 7 to 10 years for losses incurred in taxable years beginning after December 31, 2012; (5) a new special tax based on gross income (the “Special Tax”) was added to the Puerto Rico Internal Revenue Code of 2011, as further described below; and (6) a special tax of 1% was imposed on insurance premiums earned after June 30, 2013. In the case of non-financial institutions, the Special Tax is paid as part of the AMT and thus is accounted for under the provisions of ASC 740. The applicable Special Tax rate for non-financial institutions increases gradually from 0.2% for gross income equal to or in excess of $1.0 million up to 0.85% for gross income in excess of $1.5 billion. In the case of a controlled group of corporations, the tax rate for all members of the group is determined by the aggregate gross income of all members in the group. In the case of financial institutions, the Special Tax is not part of the AMT calculation thus is accounted for as other tax not subject to the provisions of ASC 740 since the same is based on gross income. The applicable Special Tax rate for financial institutions is 1% of its gross income of a taxable year, of which fifty percent (50%) may be claimed as a credit against the financial institution’s applicable income tax of that year. | ' | ' |
Effective Income Tax Rate Reconciliation State And Local Income Taxes | 39.00% | ' | ' |
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | $4,000,000 | ' | $4,000,000 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 1,600,000 | ' | 1,200,000 |
Statement [Line Items] | ' | ' | ' |
OtherComprehensiveIncomeLossTax | -87,000 | ' | -831,000 |
International Banking Entity [Member] | ' | ' | ' |
Statement [Line Items] | ' | ' | ' |
OtherComprehensiveIncomeLossTax | 219,000 | ' | 356,000 |
Other Comprehensive Income Loss Reclassification Adjustment From AOCIF or Sale Of Securities Tax | $137,000 | $47,000 | ' |
IBE Tax Rate | 0.00% | ' | ' |
Stockholders_Equity_Narratives
Stockholders Equity (Narratives) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | |
Weighted average stock anti dilutive effect excluded from calculation of earnings per share | 254,662 | ' | 653,843 |
Stock Repurchase Program, Authorized Amount | $70,000,000 | ' | ' |
Treasury Stock, Value, Acquired, Cost Method | 10,393,000 | 0 | ' |
Stock Repurchase Program Remaining Authorized Repurchase Amount | 23,100,000 | ' | ' |
Stock repurchase program remaining number of shares authorized to be repurchased | 1,341,002 | ' | ' |
Preferred Stock [Member] | ' | ' | ' |
Issuance Costs Stock | 10,100,000 | ' | ' |
Common Stock [Member] | ' | ' | ' |
Issuance Costs Stock | $13,600,000 | ' | ' |
Stockholders_Equity_Groups_and
Stockholders' Equity (Group's and the Bank's actual capital amounts and ratios) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Capital [Abstract] | ' | ' |
Minimum to be well capitalized - Total Capital | $505,067 | $511,893 |
Minimum to be well capitalized - Tier 1 capital | 303,040 | 307,136 |
Minimum to be well capitalized - Tier 1 leverage | 391,993 | 406,138 |
Risk Based Ratios [Abstract] | ' | ' |
Capital Required to be Well Capitalized to Risk Weighted Assets | 10.00% | 10.00% |
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 6.00% | 6.00% |
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 5.00% | 5.00% |
Group [Member] | ' | ' |
Capital [Abstract] | ' | ' |
Actual - Total capital | 836,168 | 827,460 |
Actual - Tier 1 capital | 745,619 | 736,930 |
Actual - Tier 1 leverage capital | 745,619 | 736,930 |
Minimum Capital - Total Capital | 404,054 | 409,514 |
Minimum capital - Tier 1 capital | 202,027 | 204,757 |
Minimum capital - Tier 1 leverage capital | 313,594 | 324,910 |
Risk Based Ratios [Abstract] | ' | ' |
Capital to Risk Weighted Assets | 16.56% | 16.16% |
Tier One Risk Based Capital to Risk Weighted Assets | 14.76% | 14.35% |
Tier One Leverage Capital to Average Assets | 9.51% | 9.11% |
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | 8.00% |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 4.00% | 4.00% |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | 4.00% |
Bank [Member] | ' | ' |
Capital [Abstract] | ' | ' |
Actual - Total capital | 805,900 | 779,413 |
Actual - Tier 1 capital | 715,591 | 688,350 |
Actual - Tier 1 leverage capital | 715,591 | 688,350 |
Minimum Capital - Total Capital | 402,495 | 407,637 |
Minimum capital - Tier 1 capital | 201,248 | 203,819 |
Minimum capital - Tier 1 leverage capital | 311,659 | 322,395 |
Minimum to be well capitalized - Total Capital | 503,119 | 509,547 |
Minimum to be well capitalized - Tier 1 capital | 301,871 | 305,728 |
Minimum to be well capitalized - Tier 1 leverage | $389,574 | $402,993 |
Risk Based Ratios [Abstract] | ' | ' |
Capital to Risk Weighted Assets | 16.02% | 15.30% |
Tier One Risk Based Capital to Risk Weighted Assets | 14.22% | 13.51% |
Tier One Leverage Capital to Average Assets | 9.18% | 8.54% |
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | 8.00% |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 4.00% | 4.00% |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | 4.00% |
Capital Required to be Well Capitalized to Risk Weighted Assets | 10.00% | 10.00% |
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 6.00% | 6.00% |
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 5.00% | 5.00% |
Stockholders_Equity_Common_sha
Stockholders' Equity (Common shares held in treasury, activity) (Details) (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Stockholders' Equity Note [Abstract] | ' | ' |
Beginning of period | 7,030,101 | 7,090,597 |
Common shares used for exercise of restricted stock units (Shares) | -27,752 | -33,600 |
Common shares repurchased as part of the stock repurchase program (Shares) | 707,400 | 0 |
Common shares used to match defined contribution plan, net | 0 | -7,318 |
End of period | 7,709,749 | 7,049,679 |
Beginning of period | $80,642 | $81,275 |
Common shares used for exercise of restricted stock units (Value) | -292 | -351 |
Stock purchased under the repurchase program | 10,393 | 0 |
Common shares used to match defined contribution plan, net (Value) | 0 | -77 |
End of period | $90,743 | $80,847 |
Stockholders_Equity_Shares_rep
Stockholders' Equity (Shares repurchased under the stock repurchase program) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 |
In Thousands, except Share data, unless otherwise specified | First Quarter [Member] | January 2014 [Member] | February 2014 [Member] | ||
Equity, Class of Treasury Stock [Line Items] | ' | ' | ' | ' | ' |
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | ' | ' | 707,400 | 57,700 | 649,700 |
Treasury Stock Acquired, Average Cost Per Share | ' | ' | $14.66 | $14.73 | $14.66 |
Treasury Stock, Value | $90,743 | $80,642 | $10,372 | $850 | $9,522 |
Stockholders_Equity_Earnings_p
Stockholders' Equity (Earnings per common share) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Earnings Per Share [Abstract] | ' | ' |
Net income | $23,747 | $21,192 |
Nonconvertible Preferred Stock Dividend Serie A and D | -1,628 | -1,628 |
Dividends Convertible Preferred Stock | -1,837 | -1,837 |
Income available to common shareholders | 20,282 | 17,727 |
Effect of assumed conversion of convertible preferred stock | 1,837 | 1,837 |
Income available to common sharesholders assuming conversion | $22,119 | $19,564 |
Average common shares outstanding | 45,329 | 45,595 |
Average potential common shares options | 131 | 159 |
Average potential common shares convertible preferred stock | 7,138 | 7,138 |
Stockholders_Equity_accumulate
Stockholders' Equity (accumulated Comprehensive Income, net of income tax) (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Accumulated other comprehensive income, net of tax, Total | $8,022 | $3,191 |
Accumulated Other Comprehensive Income (Loss) [Member] | ' | ' |
Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Accumulated other comprehensive income, net of tax, Total | 8,022 | 3,191 |
AccumulatedOtherThanTemporaryImpairmentMember | ' | ' |
Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Unrealized gain on securities available-for-sale which are not other-than-temporarily impaired | 18,464 | 13,267 |
Income tax effect of unrealized gain on securities available-for-sale | -2,429 | -1,834 |
Net unrealized gain on securities available for sale wich are not other than temporarily impaired | 16,035 | 11,433 |
Accumulated Net Gain Loss From Designated Or Qualifying Cash Flow Hedges [Member] | ' | ' |
Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Unrealized loss on cash flow hedges | -10,529 | -10,907 |
Income tax effect of unrealized loss on cash flow hedges | 2,516 | 2,665 |
Net unrealized (loss) income on cash flow hedges | ($8,013) | ($8,242) |
Stockholders_Equity_Changes_in
Stockholders' Equity (Changes in Other Comprehensive Income by Components) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Net unrealized gains on securities available for sale | ' | ' |
Changes in components of Accumulated Other comprehensive Income | ' | ' |
Beginning balance | $11,433 | $68,245 |
Other Comprehensive Income Loss Before Reclassifications Net Of Tax | 4,465 | -9,899 |
Reclassification Out Of Accumulated Other Comprehensive Income | 137 | 47 |
Other Comprehensive Income Other Net Of Tax | 4,602 | -9,852 |
Ending balance | 16,035 | 58,393 |
Net unrealized loss on cash flow hedges | ' | ' |
Changes in components of Accumulated Other comprehensive Income | ' | ' |
Beginning balance | -8,242 | -12,365 |
Other Comprehensive Income Loss Before Reclassifications Net Of Tax | -1,392 | -313 |
Reclassification Out Of Accumulated Other Comprehensive Income | 1,621 | 1,336 |
Other Comprehensive Income Other Net Of Tax | 229 | 1,023 |
Ending balance | -8,013 | -11,342 |
Accumulated Other Comprehensive Income (Loss) [Member] | ' | ' |
Changes in components of Accumulated Other comprehensive Income | ' | ' |
Beginning balance | 3,191 | 55,880 |
Other Comprehensive Income Loss Before Reclassifications Net Of Tax | 3,073 | -10,212 |
Reclassification Out Of Accumulated Other Comprehensive Income | 1,758 | 1,383 |
Other Comprehensive Income Other Net Of Tax | 4,831 | -8,829 |
Ending balance | $8,022 | $47,051 |
Stockholders_Equity_Reclassifi
Stockholders' Equity (Reclassifications out of other comprehensive income) (Details) (Reclassification out of Accumulated Other Comprehensive Income [Member], USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Interest Rate Contract | $1,621 | $1,336 |
Tax Effect Reclassified From Accumulated OCI Into Income Tax Provision | 137 | 47 |
Total | $1,758 | $1,383 |
Guarantees_Narrative_Details
Guarantees (Narrative) (Details) (USD $) | 3 Months Ended | 3 Months Ended | 3 Months Ended | 12 Months Ended | ||||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | |
Loan with recourse [Member] | Loan with recourse [Member] | Loan serviced under representation warranties [Member] | Loan serviced under representation warranties [Member] | Financial Guarantee Member | ||||
Guarantee Obligations [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Qualitative And Quantitative Information Assets Or Liabilities For Transferors Continuing Involvement In Securitization Or Asset backed Financing Arrangement Principal Amounts Outstanding | ' | ' | ' | $118,200,000 | $122,300,000 | ' | ' | ' |
Repurchased Loan | ' | ' | ' | 1,600,000 | ' | 2,800,000 | 12,500,000 | ' |
Valuation Allowances And Reserves Balance | ' | ' | ' | ' | 2,000,000 | ' | ' | 1,500,000 |
Gain (Loss) on repurchase loan subject to credit recourse | 50,000 | 25,000 | ' | ' | ' | ' | ' | ' |
Gain (Loss) On Repurchase Loan Not Subject To Credit Recourse | 434,000 | 2,000 | ' | ' | ' | ' | ' | ' |
Funds Advanced To Investors Under Servicing Agreements | 323,000 | ' | 243,000 | ' | ' | ' | ' | ' |
Two Years Or Less Recourse Obligation Termination Amount | $86,500,000 | ' | ' | ' | ' | ' | ' | ' |
Percentage of Future Extinguished Recourse Obligation Terminated in Two Years Or Less | 73.00% | ' | ' | ' | ' | ' | ' | ' |
Guarantees_Changes_in_liabilty
Guarantees (Changes in liabilty of estimated loss from credit recourse agreement) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Movement In Guaranteed Benefit Liability Gross Roll Forward | ' | ' |
Balance at beginning of the period | $1,955 | $0 |
Additions from acquisition | 0 | 2,460 |
Net charge-off/terminations | -406 | 0 |
Balance at the end of the period | $1,549 | $2,460 |
Commitments_Narratives_Details
Commitments (Narratives) (Details) (USD $) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2014 | Dec. 31, 2013 | |
Commitments and Contingencies [Abstract] | ' | ' |
Rent Expenses | $2,500,000 | $2,700,000 |
Line of credit reserve | $900,000 | $900,000 |
Commitments_Summarized_creditr
Commitments (Summarized credit-related financial instruments) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Commitments and Contingencies [Abstract] | ' | ' |
Commitments To Extend Credit | $494,327 | $520,269 |
Commercial letters credit | 1,740 | 1,096 |
Standby letters of credit and financial guarantees | 38,875 | 38,577 |
Loans sold with recourse | 118,163 | 122,291 |
Commitments To Sell Or Securitize Mortgage Loans | $34,220 | $99,307 |
Commitments_Future_rental_comm
Commitments (Future rental commitments under leases) (Details) (USD $) | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |
Operating Leases, Future Minimum Payments Due [Abstract] | ' |
2014 | $6,170 |
2015 | 8,013 |
2016 | 7,388 |
2017 | 6,761 |
2018 | 5,864 |
Thereafter | 22,004 |
Total | $56,200 |
Fair_Value_Assets_and_liabilit
Fair Value (Assets and liabilities on recurring and non-recurring basis) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities | $1,455,685 | $1,588,425 |
Money Market Funds, at Carrying Value | 7,652 | 6,967 |
Derivative Assets | 15,861 | 20,502 |
Servicing Assets | 13,970 | 13,801 |
Derivative liabilities | -13,830 | -14,937 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities | 1,435,632 | 1,568,745 |
Securities purchased under agreements to resell | 0 | 60,000 |
Derivative Assets | 3,306 | 4,072 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities | 20,053 | 19,680 |
Derivative Assets | 12,555 | 16,430 |
Servicing Assets | 13,970 | 13,801 |
Fair Value, Measurements, Recurring [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities | 1,455,685 | 1,588,425 |
Securities purchased under agreements to resell | 0 | 60,000 |
Money Market Funds, at Carrying Value | 7,652 | 6,967 |
Derivative Assets | 15,861 | 20,502 |
Servicing Assets | 13,970 | 13,801 |
Derivative liabilities | -25,950 | -30,673 |
Total | 1,467,218 | 1,659,022 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities | 0 | 0 |
Securities purchased under agreements to resell | 0 | 0 |
Money Market Funds, at Carrying Value | 7,652 | 6,967 |
Derivative Assets | 0 | 0 |
Servicing Assets | 0 | 0 |
Derivative liabilities | 0 | 0 |
Total | 7,652 | 6,967 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities | 1,435,632 | 1,568,745 |
Securities purchased under agreements to resell | 0 | 60,000 |
Money Market Funds, at Carrying Value | 0 | 0 |
Derivative Assets | 3,306 | 4,072 |
Servicing Assets | 0 | 0 |
Derivative liabilities | -13,830 | -14,937 |
Total | 1,425,108 | 1,617,880 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities | 20,053 | 19,680 |
Securities purchased under agreements to resell | 0 | 0 |
Money Market Funds, at Carrying Value | 0 | 0 |
Derivative Assets | 12,555 | 16,430 |
Servicing Assets | 13,970 | 13,801 |
Derivative liabilities | -12,120 | -15,736 |
Total | 34,458 | 34,175 |
Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired Commercial Loan | 27,975 | 28,353 |
Foreclosed real estate | 96,884 | 90,024 |
Total | 124,859 | 118,377 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired Commercial Loan | 0 | 0 |
Foreclosed real estate | 0 | 0 |
Total | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired Commercial Loan | 0 | 0 |
Foreclosed real estate | 0 | 0 |
Total | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired Commercial Loan | 27,975 | 28,353 |
Foreclosed real estate | 96,884 | 90,024 |
Total | $124,859 | $118,377 |
Fair_Value_Reconciliation_of_a
Fair Value (Reconciliation of assets and liabilities using significant unobservable inputs (Level 3)) (Details) (Fair Value, Measurements, Recurring [Member], USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' |
Balance | $34,175 | $48,527 |
Gains (losses) included in earnings | -502 | 14 |
Changes in fair value of investment securities available for sale included in other comprehensive income | 373 | 1,706 |
New instruments acquired | 563 | 487 |
Principal repayments | -196 | -307 |
Amortization | 243 | 67 |
Sale of instruments | 0 | ' |
Changes in fair value of servicing assets | -198 | -314 |
Balance | 34,458 | 50,180 |
Collateralized Mortgage Obligations [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' |
Balance | ' | 27,280 |
Gains (losses) included in earnings | ' | 0 |
Changes in fair value of investment securities available for sale included in other comprehensive income | ' | 1,705 |
New instruments acquired | ' | 0 |
Principal repayments | ' | 0 |
Amortization | ' | 17 |
Changes in fair value of servicing assets | ' | 0 |
Balance | ' | 29,002 |
Other Debt Obligations [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' |
Balance | 19,680 | 10,016 |
Gains (losses) included in earnings | 0 | 0 |
Changes in fair value of investment securities available for sale included in other comprehensive income | 373 | 1 |
New instruments acquired | 0 | 0 |
Principal repayments | 0 | 0 |
Amortization | 0 | 0 |
Sale of instruments | 0 | ' |
Changes in fair value of servicing assets | 0 | 0 |
Balance | 20,053 | 10,017 |
Derivative Financial Instruments, Assets [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' |
Balance | 16,430 | 11,367 |
Gains (losses) included in earnings | -3,875 | 1,721 |
Changes in fair value of investment securities available for sale included in other comprehensive income | 0 | 0 |
New instruments acquired | 0 | 0 |
Principal repayments | 0 | 0 |
Amortization | 0 | 0 |
Sale of instruments | 0 | ' |
Changes in fair value of servicing assets | 0 | 0 |
Balance | 12,555 | 13,088 |
Servicing Assets [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' |
Balance | 13,801 | 10,776 |
Gains (losses) included in earnings | 0 | 0 |
Changes in fair value of investment securities available for sale included in other comprehensive income | 0 | 0 |
New instruments acquired | 563 | 487 |
Principal repayments | -196 | -307 |
Amortization | 0 | 0 |
Sale of instruments | 0 | ' |
Changes in fair value of servicing assets | -198 | -314 |
Balance | 13,970 | 10,642 |
Derivative Financial Instruments, Liabilities [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' |
Balance | -15,736 | -10,912 |
Gains (losses) included in earnings | 3,373 | -1,707 |
Changes in fair value of investment securities available for sale included in other comprehensive income | 0 | 0 |
New instruments acquired | 0 | 0 |
Principal repayments | 0 | 0 |
Amortization | 243 | 50 |
Sale of instruments | 0 | ' |
Changes in fair value of servicing assets | 0 | 0 |
Balance | ($12,120) | ($12,569) |
Fair_Value_Qualitative_informa
Fair Value (Qualitative information for assets and liabilities) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Other Debt Obligations [Member] | Other Debt Obligations [Member] | Other Debt Obligations [Member] | Other Debt Obligations [Member] | Derivative asset (S&P Purchased Options) [Member] | Derivative asset (S&P Purchased Options) [Member] | Derivative asset (S&P Purchased Options) [Member] | Servicing Assets [Member] | Servicing Assets [Member] | Servicing Assets [Member] | Derivative liability (S&P Embedded Options) [Member] | Derivative liability (S&P Embedded Options) [Member] | Derivative liability (S&P Embedded Options) [Member] | Collateral dependant impaired loan | Collateral dependant impaired loan | Collateral dependant impaired loan | |||||
Market Approach Valuation Technique [Member] | Market Approach Valuation Technique [Member] | Market Approach Valuation Technique [Member] | Option Pricing Model Technique [Member] | Option Pricing Model Technique [Member] | Option Pricing Model Technique [Member] | Cash Flow Valuation Technique [Member] | Cash Flow Valuation Technique [Member] | Cash Flow Valuation Technique [Member] | Option Pricing Model Technique [Member] | Option Pricing Model Technique [Member] | Option Pricing Model Technique [Member] | Fair value of property or collateral [Member] | Fair value of property or collateral [Member] | Fair value of property or collateral [Member] | ||||||
Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | |||||||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value assets and liabilities measured on reccurring basis | $1,455,685 | $1,588,425 | $20,053 | $19,680 | $20,053 | $20,053 | ' | ' | $12,555 | ' | ' | $13,970 | ' | ' | ($12,120) | ' | ' | $27,975 | ' | ' |
Valuation Technique | ' | ' | ' | ' | ' | 'Market comparable bonds | ' | ' | 'Option pricing model | ' | ' | 'Cash flow valuation | ' | ' | 'Option pricing model | ' | ' | 'Fair value of property or collateral | ' | ' |
Unobservable Input | ' | ' | ' | ' | ' | 'Indicative pricing Option adjusted spread Yield to maturity Spread to maturity | ' | ' | 'Implied option volatility Counterparty credit risk (based on 5-year credit default swap ("CDS") spread) | ' | ' | 'Constant prepayment rate Discount rate | ' | ' | 'Implied option volatility Counterparty credit risk (based on 5-year CDS spread) | ' | ' | 'Appraised value less disposition costs | ' | ' |
Indicative Pricing | ' | ' | ' | ' | ' | ' | 97.13% | 98.97% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
OAS spread | ' | ' | ' | ' | ' | ' | 683.70% | 1602.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Yield to maturity | ' | ' | ' | ' | ' | ' | 7.05% | 15.89% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Spread to maturity | ' | ' | ' | ' | ' | ' | 689.90% | 1579.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Implied option volatility | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22.89% | 53.62% | ' | ' | ' | ' | 22.89% | 53.62% | ' | ' | ' |
Counterparty credit risk (based on 5-year CDS spread) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 56.36% | 86.49% | ' | ' | ' | ' | 56.36% | 86.49% | ' | ' | ' |
Constant prepayment rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.60% | 10.08% | ' | ' | ' | ' | ' | ' |
Discount rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | 12.00% | ' | ' | ' | ' | ' | ' |
Appraised value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21.30% | 28.30% |
Fair_Value_Investment_securiti
Fair Value (Investment securities available-for-sale classified as level 3) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Other Debt Obligations [Member] | ||
Fair Value, Inputs, Level 3 [Member] | |||||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' | ' |
Amortized Cost | $1,437,106 | $1,575,043 | ' | ' | $20,000 |
Unrealized Gains (Losses) | ' | ' | ' | ' | 53 |
Investment securities available-for-sale, at fair value | $1,455,685 | $1,588,425 | $20,053 | $19,680 | $20,053 |
Available for sale - Weighted Average Yield | 2.74% | 2.89% | ' | ' | 3.50% |
Fair_value_Estimated_fair_valu
Fair value (Estimated fair value and carrying value) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' |
Available-for-sale Securities | $1,455,685 | $1,588,425 | ' | ' |
Federal Home Loan Bank (FHLB) stock | 24,430 | 24,450 | ' | ' |
Derivative Assets | 15,861 | 20,502 | ' | ' |
Servicing Assets | 13,970 | 13,801 | ' | ' |
Liabilities, Fair Value Disclosure [Abstract] | ' | ' | ' | ' |
Derivative liabilities | 13,830 | 14,937 | ' | ' |
Assets,Carrying Value [Abstract] | ' | ' | ' | ' |
Total cash and cash equivalents | 624,636 | 621,269 | 566,996 | 868,695 |
Restricted Cash And Cash Equivalents | 15,170 | 82,199 | ' | ' |
Securities Purchased under Agreements to Resell | 0 | 60,000 | ' | ' |
Trading Securities | 1,910 | 1,869 | ' | ' |
Total loans not covered under shared-loss agreements with FDIC, net | 4,635,394 | 4,615,929 | ' | ' |
Covered, net | 347,865 | 356,961 | ' | ' |
FDIC Indemnification Asset | 166,194 | 189,240 | 283,124 | 302,295 |
Accrued interest receivable | 18,969 | 18,734 | ' | ' |
Liabilities,Carrying Value Disclosure [Abstract] | ' | ' | ' | ' |
Deposits, Total | 5,300,992 | 5,383,265 | ' | ' |
Securities Sold under Agreements to Repurchase | 1,012,240 | 1,267,618 | ' | ' |
Federal Funds Purchased | 23,712 | 0 | ' | ' |
Subordinated capital notes | 100,404 | 100,010 | ' | ' |
Accrued expenses and other liabilities | 140,037 | 144,424 | ' | ' |
Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | 624,636 | 621,269 | ' | ' |
Restricted Cash, at Fair Value | 15,170 | 82,199 | ' | ' |
Assets,Carrying Value [Abstract] | ' | ' | ' | ' |
Total cash and cash equivalents | 624,636 | 621,269 | ' | ' |
Restricted Cash And Cash Equivalents | 15,170 | 82,199 | ' | ' |
Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' |
Federal Funds Sold and Securities Borrowed or Purchased under Agreements to Resell, Fair Value Disclosure | 0 | 60,000 | ' | ' |
Available-for-sale Securities | 1,435,632 | 1,568,745 | ' | ' |
Federal Home Loan Bank (FHLB) stock | 24,430 | 24,450 | ' | ' |
Derivative Assets | 3,306 | 4,072 | ' | ' |
Receivables, Fair Value Disclosure | 13,830 | 14,937 | ' | ' |
Liabilities, Fair Value Disclosure [Abstract] | ' | ' | ' | ' |
Short term borrowings | 0 | 0 | ' | ' |
Assets,Carrying Value [Abstract] | ' | ' | ' | ' |
Securities Purchased under Agreements to Resell | 0 | 60,000 | ' | ' |
Trading Securities | 1,910 | 1,869 | ' | ' |
Investment securities AFS , carrying value | 1,435,632 | 1,568,745 | ' | ' |
Federal Home Loan Bank Stock at carrying value | 24,430 | 24,450 | ' | ' |
Derivative Assets, carrying value | 3,306 | 4,072 | ' | ' |
Liabilities,Carrying Value Disclosure [Abstract] | ' | ' | ' | ' |
Derivative liabilities at carrying value | 13,830 | 14,937 | ' | ' |
Other Short Term Borrowings | 0 | 0 | ' | ' |
Fair Value, Inputs, Level 3 [Member] | ' | ' | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' | ' | ' |
Available-for-sale Securities | 20,053 | 19,680 | ' | ' |
Non-covered loans, net | 4,737,604 | 4,857,505 | ' | ' |
Covered loans, net | 400,355 | 459,444 | ' | ' |
Derivative Assets | 12,555 | 16,430 | ' | ' |
FDIC Indemnification Asset Fair Value Disclosure | 106,170 | 152,965 | ' | ' |
Receivables, Fair Value Disclosure | 18,969 | 18,734 | ' | ' |
Servicing Assets | 13,970 | 13,801 | ' | ' |
Liabilities, Fair Value Disclosure [Abstract] | ' | ' | ' | ' |
Deposits, Fair Value Disclosure | 5,247,226 | 5,409,540 | ' | ' |
Securities sold under agreements to repurchase | 1,076,000 | 1,323,903 | ' | ' |
Advances from FHLB | 340,805 | 335,324 | ' | ' |
Federal Funds Purchased, Fair Value Disclosure | 23,712 | 0 | ' | ' |
Notes Payable Fair Value Disclosure | 3,583 | 3,638 | ' | ' |
Subordinated capital notes | 87,240 | 99,316 | ' | ' |
Accrued expenses and other liabilities | 140,037 | 144,424 | ' | ' |
Assets,Carrying Value [Abstract] | ' | ' | ' | ' |
Investment securities AFS , carrying value | 20,053 | 19,680 | ' | ' |
Total loans not covered under shared-loss agreements with FDIC, net | 4,654,749 | 4,662,458 | ' | ' |
Covered, net | 347,865 | 356,961 | ' | ' |
Derivative Assets, carrying value | 12,555 | 16,430 | ' | ' |
FDIC Indemnification Asset | 166,194 | 189,240 | ' | ' |
Accrued interest receivable | 18,969 | 18,734 | ' | ' |
Servicing assets, carrying value | 13,970 | 13,801 | ' | ' |
Liabilities,Carrying Value Disclosure [Abstract] | ' | ' | ' | ' |
Deposits, Total | 5,300,992 | 5,383,265 | ' | ' |
Securities Sold under Agreements to Repurchase | 1,012,240 | 1,267,618 | ' | ' |
Advances from FHLB | 335,689 | 336,143 | ' | ' |
Federal Funds Purchased | 23,712 | 0 | ' | ' |
Term Notes | 3,708 | 3,663 | ' | ' |
Subordinated capital notes | 100,404 | 100,010 | ' | ' |
Accrued expenses and other liabilities | $140,037 | $144,424 | ' | ' |
Segment_Reporting_Details
Segment Reporting (Details) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
Segment Reporting Information [Line Items] | ' | ' | ' |
Total interest income | $123,074 | $114,172 | ' |
Interest expense | -19,676 | -20,556 | ' |
Net interest income | 103,398 | 93,616 | ' |
Provision For Non Covered Loan And Lease Losses. | -10,062 | -7,916 | ' |
Provision for Covered Loan and Lease Losses, net | -1,629 | -672 | ' |
Total non-interest income (loss), net | 5,278 | 10,099 | ' |
Non-interest expenses | -61,453 | -66,809 | ' |
Total assets | 7,855,638 | ' | 8,158,015 |
Banking [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Total interest income | 108,631 | 102,068 | ' |
Interest expense | -7,516 | -6,971 | ' |
Net interest income | 101,115 | 95,097 | ' |
Provision For Non Covered Loan And Lease Losses. | -10,062 | -7,916 | ' |
Provision for Covered Loan and Lease Losses, net | -1,629 | -672 | ' |
Total non-interest income (loss), net | -5,047 | 2,537 | ' |
Non-interest expenses | -53,596 | -61,932 | ' |
Intersegment revenues | 544 | 383 | ' |
Intersegment expenses | 0 | 0 | ' |
Income (loss) before Income Taxes, Parent | 31,325 | 27,497 | ' |
Total assets | 7,351,839 | 6,989,744 | ' |
Financial Services | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Total interest income | 40 | 86 | ' |
Interest expense | 0 | -60 | ' |
Net interest income | 40 | 26 | ' |
Provision For Non Covered Loan And Lease Losses. | 0 | 0 | ' |
Provision for Covered Loan and Lease Losses, net | 0 | 0 | ' |
Total non-interest income (loss), net | 6,522 | 7,700 | ' |
Non-interest expenses | -4,779 | -4,462 | ' |
Intersegment revenues | 0 | 0 | ' |
Intersegment expenses | -432 | -302 | ' |
Income (loss) before Income Taxes, Parent | 1,351 | 2,962 | ' |
Total assets | 24,345 | 39,511 | ' |
Treasury [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Total interest income | 14,403 | 12,018 | ' |
Interest expense | -12,160 | -13,525 | ' |
Net interest income | 2,243 | -1,507 | ' |
Provision For Non Covered Loan And Lease Losses. | 0 | 0 | ' |
Provision for Covered Loan and Lease Losses, net | 0 | 0 | ' |
Total non-interest income (loss), net | 3,803 | -138 | ' |
Non-interest expenses | -3,078 | -415 | ' |
Intersegment revenues | 0 | 0 | ' |
Intersegment expenses | -112 | -81 | ' |
Income (loss) before Income Taxes, Parent | 2,856 | -2,141 | ' |
Total assets | 1,643,569 | 2,539,649 | ' |
Major Segment [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Total interest income | 123,074 | 114,172 | ' |
Interest expense | -19,676 | -20,556 | ' |
Net interest income | 103,398 | 93,616 | ' |
Provision For Non Covered Loan And Lease Losses. | -10,062 | -7,916 | ' |
Provision for Covered Loan and Lease Losses, net | -1,629 | -672 | ' |
Total non-interest income (loss), net | 5,278 | 10,099 | ' |
Non-interest expenses | -61,453 | -66,809 | ' |
Intersegment revenues | 544 | 383 | ' |
Intersegment expenses | -544 | -383 | ' |
Income (loss) before Income Taxes, Parent | 35,532 | 28,318 | ' |
Total assets | 9,019,753 | 9,568,904 | ' |
Intersegment Elimination [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Total interest income | 0 | 0 | ' |
Interest expense | 0 | 0 | ' |
Net interest income | 0 | 0 | ' |
Provision For Non Covered Loan And Lease Losses. | 0 | 0 | ' |
Provision for Covered Loan and Lease Losses, net | 0 | 0 | ' |
Total non-interest income (loss), net | 0 | 0 | ' |
Non-interest expenses | 0 | 0 | ' |
Intersegment revenues | -544 | -383 | ' |
Intersegment expenses | 544 | 383 | ' |
Income (loss) before Income Taxes, Parent | 0 | 0 | ' |
Total assets | ($1,164,115) | ($866,353) | ' |