Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2015 | Oct. 31, 2015 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | OFG BANCORP | |
Entity Central Index Key | 1,030,469 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2015 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | FY | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 43,867,909 |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition (Unaudited) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Cash and cash equivalents | ||
Cash and Due from Banks | $ 521,460 | $ 568,752 |
Money market investments | 4,736 | 4,675 |
Total cash and cash equivalents | 526,196 | 573,427 |
Restricted Cash | 4,349 | 8,407 |
Investments: | ||
Trading Securities, at fair value | 583 | 1,594 |
Investment securities available-for-sale, at fair value | 1,007,705 | 1,216,538 |
Investment securities held-to-maturity, at amortized cost | 594,639 | 162,752 |
Federal Home Loan Bank (FHLB) stock, at cost | 20,804 | 21,169 |
Other investments | 3 | 3 |
Total investments | 1,623,734 | 1,402,056 |
Loans: | ||
Mortgage loans held-for-sale | 19,203 | 14,539 |
Loans held for investment, net | 4,449,473 | 4,812,107 |
Total loans, net | 4,468,676 | 4,826,646 |
Other asset | ||
FDIC indemnification asset | 22,895 | 97,378 |
Foreclosed real estate not covered under shared-loss agreements with the FDIC | 64,117 | 95,661 |
Accrued interest receivable | 18,625 | 21,345 |
Deferred tax asset, net | 143,935 | 108,708 |
Premises and equipment, net | 75,346 | 80,599 |
Customers' liability on acceptances | 19,083 | 17,989 |
Servicing Assets | 6,463 | 13,992 |
Derivative assets | 3,290 | 8,107 |
Goodwill | 86,069 | 86,069 |
Other assets | 141,044 | 108,725 |
Total assets | 7,203,822 | 7,449,109 |
Deposits: | ||
Demand deposits | 1,905,029 | 1,997,536 |
Savings accounts | 1,292,641 | 1,385,824 |
Tme Deposits | 1,519,404 | 1,541,046 |
Total deposits | 4,717,074 | 4,924,406 |
Borrowings: | ||
Securities Sold under Agreements to Repurchase | 1,000,664 | 980,087 |
Advances from FHLB | 332,936 | 334,331 |
Subordinated capital notes | 102,371 | 101,584 |
Other borrowings | 1,734 | 4,004 |
Total borrowings | 1,437,705 | 1,420,006 |
Derivative liabilities | 8,622 | 11,221 |
Acceptances executed and outstanding | 19,083 | 17,989 |
Accrued expenses and other liabilities | 113,450 | 133,290 |
Total liabilities | 6,295,934 | 6,506,912 |
Stockholders' equity: | ||
Preferred Stock | 92,000 | 92,000 |
Convertible Preferred Stock | 84,000 | 84,000 |
Common stock | 52,626 | 52,626 |
Additional paid-in capital | 540,088 | 539,311 |
Legal surplus | 70,423 | 70,467 |
Retained earnings | 155,974 | 181,152 |
Treasury stock, at cost | (105,379) | (97,070) |
Accumulated other comprehensive income, net of tax, Total | 18,156 | 19,711 |
Total stockholders' equity | 907,888 | 942,197 |
Total liabilities and stockholders' equity | $ 7,203,822 | $ 7,449,109 |
Consolidated Statements of Fin3
Consolidated Statements of Financial Condition (Unaudited) (Parenthetical) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Amortized cost of trading securities | $ 1,324,000 | $ 2,419,000 |
Amortized cost of investment securities available-for-sale | 982,754,000 | 1,187,679,000 |
Fair value of held to maturity securities | 595,148,000 | 164,154,000 |
Allowance for loan and lease losses | $ 196,142,000 | $ 133,762,000 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, par value | $ 1 | $ 1 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 52,625,869 | 52,625,869 |
Common stock, shares outstanding | 43,867,909 | 44,613,615 |
Treasury stock, at cost, shares | 8,757,960 | 8,012,254 |
Tax effect on accumulated other comprehensive income (loss) | $ 284,000 | $ 447,000 |
Series A Preferred Stock | ||
Preferred stock, shares issued | 1,340,000 | 1,340,000 |
Preferred stock, liquidation value | $ 25 | $ 25 |
Series B Preferred Stock | ||
Preferred stock, shares issued | 1,380,000 | 1,380,000 |
Preferred stock, liquidation value | $ 25 | $ 25 |
Series C Convertible Preferred Stock | ||
Preferred stock, shares issued | 84,000 | 84,000 |
Preferred stock, liquidation value | $ 1,000 | $ 1,000 |
Series D Preferred Stock Member | ||
Preferred stock, shares issued | 960,000 | 960,000 |
Preferred stock, liquidation value | $ 25 | $ 25 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Interest income: | ||||
Total interest income from loans | $ 97,264 | $ 108,548 | $ 285,251 | $ 330,122 |
Mortgage-backed securities | 9,137 | 10,842 | 25,724 | 35,243 |
Investment securities and other | 846 | 911 | 2,686 | 3,910 |
Total interest income | 107,247 | 120,301 | 313,661 | 369,275 |
Interest expense: | ||||
Deposits | 6,651 | 7,661 | 20,359 | 25,804 |
Securities sold under agreements to repurchase | 7,605 | 7,453 | 22,163 | 22,238 |
Advances from FHLB and other borrowings | 2,283 | 2,314 | 6,766 | 6,896 |
Subordinated capital notes | 885 | 1,002 | 2,623 | 2,990 |
Total interest expense | 17,424 | 18,430 | 51,911 | 57,928 |
Net interest income | 89,823 | 101,871 | 261,750 | 311,347 |
Provision for Loan, Lease, and Other Losses | 51,579 | 17,257 | 109,311 | 43,763 |
Net interest income after provision for loan and lease losses | 38,244 | 84,614 | 152,439 | 267,584 |
Non-interest income: | ||||
Banking service revenues | 10,826 | 9,753 | 31,243 | 30,305 |
Wealth management revenue | 6,885 | 7,113 | 21,325 | 21,316 |
Mortgage banking activities | 992 | 2,097 | 4,717 | 5,346 |
Total Banking and Financial Service Revenues | 18,703 | 18,963 | 57,285 | 56,967 |
Total loss on other-than-temporarily impaired securities | (584) | 0 | (584) | 0 |
Portion of loss on securities recognized in other comprehensive income | 338 | 0 | 338 | 0 |
Net impairment losses recognized in earnings | (246) | 0 | (246) | 0 |
FDIC shared-loss expense, net [Abstract] | ||||
FDIC indemnification asset expense | (1,215) | (16,059) | (35,948) | (51,180) |
Change in true-up payment obligation expense | (864) | (875) | (2,460) | (2,596) |
FDIC shared-loss expense, net | (2,079) | (16,934) | (38,408) | (53,776) |
Reimbursement from FDIC shared-loss coverage in sale of loans | 20,000 | 0 | 20,000 | 0 |
Net gain (loss) on: | ||||
Sale of securities | 0 | 0 | 2,572 | 4,366 |
Derivatives | (208) | 7 | (223) | (463) |
Other non-interest (loss) income | (193) | 455 | (2,778) | 1,133 |
Total non-interest income, net | 35,977 | 2,491 | 38,202 | 8,227 |
Non-interest expense: | ||||
Compensation and employee benefits | 21,015 | 18,592 | 60,455 | 61,086 |
Professional and service fees | 4,000 | 3,807 | 12,324 | 11,525 |
Occupancy and equipment | 8,556 | 8,770 | 26,075 | 25,684 |
Insurance | 2,263 | 2,099 | 6,467 | 6,506 |
Electronic banking charges | 5,496 | 4,637 | 16,714 | 14,085 |
Information technology related expenses | 1,364 | 1,289 | 4,360 | 4,589 |
Advertising, business promotion, and strategic initiatives | 1,577 | 1,825 | 4,763 | 5,274 |
Foreclosure, repossession and other real estate expenses | 16,601 | 7,842 | 32,384 | 20,885 |
Loan servicing and clearing expenses | 1,976 | 1,870 | 6,923 | 5,598 |
Taxes, other than payroll and income taxes | 2,649 | 3,494 | 6,831 | 11,005 |
Communication | 774 | 820 | 2,234 | 2,590 |
Printing, postage, stationary and supplies | 624 | 620 | 1,842 | 1,820 |
Director and investors relations | 246 | 250 | 829 | 794 |
Other | 1,949 | 3,660 | 7,658 | 9,386 |
Total non-interest expense | 69,090 | 59,575 | 189,859 | 180,827 |
Income before income taxes | 5,131 | 27,530 | 782 | 94,984 |
Income tax expense (benefit) | 562 | 7,998 | 2,310 | 30,396 |
Net (loss) income | 4,569 | 19,532 | (1,528) | 64,588 |
Dividends on preferred stock | (3,465) | (3,465) | (10,396) | (10,396) |
(Loss) Income available to common shareholders | $ 1,104 | $ 16,067 | $ (11,924) | $ 54,192 |
(Loss) Earnings per common share: | ||||
Basic | $ 0.03 | $ 0.36 | $ (0.27) | $ 1.2 |
Diluted | $ 0.03 | $ 0.34 | $ (0.27) | $ 1.14 |
Average common shares outstanding and equivalents | 51,146 | 52,362 | 51,609 | 52,440 |
Cash dividends per share of common stock | $ 0.1 | $ 0.08 | $ 0.3 | $ 0.24 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Consolidated Statements of Comprehensive Income (Loss) [Abstract] | ||||
Net (loss) income | $ 4,569 | $ 19,532 | $ (1,528) | $ 64,588 |
Other comprehensive income (loss) before tax: | ||||
Unrealized gain (loss) on securities available-for-sale | 3,958 | (9,410) | (1,582) | 15,094 |
Realized gain on investment securities included in net income | 0 | 0 | (2,572) | (4,366) |
Other-than-temporary impairment on investment securities included in net income | 246 | 0 | 246 | 0 |
Unrealized gain (loss) on cash flow hedges | 119 | 1,798 | 2,190 | 2,189 |
Other comprehensive income (loss) before taxes | 4,323 | (7,612) | (1,718) | 12,917 |
Income tax effect | (468) | (732) | 163 | (2,697) |
Other Comprehensive Income (Loss) After taxes | 3,855 | (8,344) | (1,555) | 10,220 |
Comprehensive income | $ 8,424 | $ 11,188 | $ (3,083) | $ 74,808 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) | Total | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Legal Surplus [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Beginning Balance at Dec. 31, 2013 | $ 176,000,000 | $ 52,707,000 | $ 538,071,000 | $ 61,957,000 | $ 133,629,000 | $ (80,642,000) | $ 3,191,000 | |
Stock-based compensation expense | 1,248,000 | |||||||
Exercised Stock Options | 54,000 | 589,000 | ||||||
Lapsed restricted stock units | (386,000) | 384,000 | ||||||
Transfer from retained earnings/transfer to legal surplus | 6,480,000 | (6,480,000) | ||||||
Net (loss) income | $ 64,588,000 | 64,588,000 | ||||||
Cash dividends declared on common stock | (10,822,000) | |||||||
Cash dividends declared on preferred stock | (10,396,000) | |||||||
Stock purchased | 10,394,000 | (10,394,000) | ||||||
Other comprehensive loss, net of tax | 10,220,000 | 10,220,000 | ||||||
Ending Balance at Sep. 30, 2014 | 929,998,000 | 176,000,000 | 52,761,000 | 539,522,000 | 68,437,000 | 170,519,000 | (90,652,000) | 13,411,000 |
Beginning Balance at Dec. 31, 2014 | 942,197,000 | 176,000,000 | 52,626,000 | 539,311,000 | 70,467,000 | 181,152,000 | (97,070,000) | 19,711,000 |
Stock-based compensation expense | 1,213,000 | |||||||
Exercised Stock Options | 0 | 0 | ||||||
Lapsed restricted stock units | (436,000) | 641,000 | ||||||
Transfer from retained earnings/transfer to legal surplus | (44,000) | 44,000 | ||||||
Net (loss) income | (1,528,000) | (1,528,000) | ||||||
Cash dividends declared on common stock | (13,298,000) | |||||||
Cash dividends declared on preferred stock | (10,396,000) | |||||||
Stock purchased | 8,950,000 | (8,950,000) | ||||||
Other comprehensive loss, net of tax | (1,555,000) | (1,555,000) | ||||||
Ending Balance at Sep. 30, 2015 | $ 907,888,000 | $ 176,000,000 | $ 52,626,000 | $ 540,088,000 | $ 70,423,000 | $ 155,974,000 | $ (105,379,000) | $ 18,156,000 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Cash flows from operating activities: | ||
Net (loss) income | $ (1,528) | $ 64,588 |
Adjustments to reconcile net income to net cash provied by (used in) operating activities: | ||
Amortization of deferred loan origination fees, net of costs | 2,515 | 2,065 |
Amortization of discount to fair value of acquired loan | 2,972 | 9,914 |
Amortization of investment securities premiums, net of accretion of discounts | 9,312 | 1,048 |
Amortization of core deposit and customer relationship intangibles | 1,429 | 1,627 |
Amortization of fair value premium of acquired deposits | 569 | 4,349 |
FDIC Loss Share (Expense) Income | 38,408 | 53,776 |
Other Than Temporary Impairment on securities | 246 | 0 |
Reimbursement from the FDIC shared-loss coverage in sale of loans | (20,000) | 0 |
Depreciation and amortization of premises and equipment | 8,538 | 7,415 |
Deferred income taxes, net | (1,329) | 20,418 |
Provision for covered and non-covered loan and lease losses, net | 109,311 | 43,763 |
Stock-based compensation | 1,213 | 1,248 |
(Gain) loss on: | ||
Sale of securities | (2,572) | (4,366) |
Sale of mortgage loans held for sale | (2,595) | (3,891) |
Gain on sale of derivatives and on sale of TBA | (26) | 584 |
Foreclosed real estate | 30,608 | 9,185 |
Sale of other repossessed asset | 4,585 | 4,506 |
Sale of premises and equipment | 193 | (11) |
Originations of loans held-for-sale | (165,333) | (130,547) |
Proceeds from sale of loans held-for-sale | 76,953 | 72,211 |
Net (increase) decrease in: | ||
Trading securities | 1,011 | 182 |
Accrued interest receivable | 2,720 | (931) |
Servicing Assets | 544 | (185) |
Other assets | (18,263) | 8,538 |
Net increase (decrease) in: | ||
Accrued interest on deposits and borrowings | (745) | (1,811) |
Accrued expenses and other liabilities | (11,923) | (3,099) |
Net cash provided by (used in) operating activities | 66,813 | 160,576 |
Purchases of: | ||
Investment securities available-for-sale | (3,747) | (219,027) |
Investment securities held-to-maturity | (458,229) | (115,396) |
FHLB stock | 0 | (84,375) |
Maturities and Redemptions of [Abstract] | ||
Investment securities available-for-sale | 187,052 | 429,939 |
Investments securities held-to-maturity | 24,753 | 1,045 |
FHLB Stock | 365 | 87,636 |
Proceeds from sale of: | ||
Investment securities available for sale | 103,831 | 189,249 |
Foreclosed real estate and other repossessed assets | 63,959 | 33,915 |
Proceeds From Sale Of Loans Held For Investment | 30,669 | 9,378 |
Premises and equipment | (76) | 25 |
Proceeds From Sale Of Mortgage Servicing Rights MSR | 5,927 | 0 |
Origination and purchase of loans, excluding loans held-for-sale | (611,815) | (545,776) |
Principal repayment of loans, including covered loans | 722,579 | 561,479 |
Reimbursements from the FDIC on shared-loss agreements | 46,356 | 31,537 |
Additions to premises and equipment | (3,402) | (6,626) |
Net change in securities purchased under agreements to resell | 0 | 60,000 |
Net change in restricted cash | 4,058 | 49,292 |
Net cash provided by investing activities | 112,280 | 482,295 |
Net increase (decrease) in: | ||
Deposits | (211,637) | (306,917) |
Securities sold under agreements to repurchase | 20,717 | (255,000) |
FHLB advances, federal funds purchased, and other borrowings | (3,676) | (1,142) |
Subordinated capital notes | 787 | 1,180 |
Exercise of stock options and restricted units lapsed, net | 204 | 641 |
Purchase of treasury stock | (8,950) | (10,394) |
Dividends paid on preferred stock | (10,396) | (10,396) |
Dividends paid on common stock | (13,373) | (10,873) |
Net cash used in financing activities | (226,324) | (592,901) |
Net change in cash and cash equivalents | (47,231) | 49,970 |
Cash and cash equivalents at beginning of period | 573,427 | 621,269 |
Cash and cash equivalents at end of period | 526,196 | 671,239 |
Supplemental Cash Flow Disclosure and Schedule of Non-cash Activities: | ||
Interest paid | 51,471 | 63,082 |
Income Taxes Paid | 10,598 | 1,839 |
Mortgage loans securitized into mortgage-backed securities | 87,609 | 71,466 |
Transfer from loans to foreclosed real estate and other repossessed assets | 56,510 | 67,296 |
Securities purchased but not yet received | 0 | 30,057 |
Reclassification of loans held-for-investment portfolio to held-for-sale portfolio | 1,453 | 5,268 |
Reclassification of loans held-for-sale portfolio to investment portfolio | $ 156 | $ 25,801 |
Organization, Consolidation and
Organization, Consolidation and Basis of Presentation | 9 Months Ended |
Sep. 30, 2015 | |
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 (t he “ 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 ( the “Bank”) , a securities broker-dealer , Oriental Financial Services Corp. (“Oriental Fi nancial Services”), an insurance agency , Oriental Insuranc e, Inc. (“Oriental Insurance”) and a reti rement plan administrator, Oriental Pension Consultants, Inc. (“OPC”), formerly known as Caribbean Pension Consultants, Inc. Through these subsidiaries and their respective divisions, the Company provides a wide range of banking and financial services such as commercial, consume r and mortgage lending, auto loans, financial planning, insurance sales, money management and investment banking and brokerage services, as well as corporate and individual trust services. On April 30, 2010, the Bank acquired certain assets and assumed certain deposits and other liabilities of Eurobank , a Puerto Rico commercial bank, in an FDIC-assisted acquisition . On December 18, 2012, the Company acquired a group of Puerto Rico- based entities that included Banco Bil bao Vizcaya Argentaria Puerto Rico (“BBVAPR”), a Puerto Rico commercial bank, as well as a securities broker-dealer and an insurance agency, which is referred to herein as the “BBVAPR Acquisition . ” The businesses acquired in these acquisitions have been in tegrated with the C ompany’s existing business. |
Significant Accounting Policies | Recent Accounting Developments In April 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-03, Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”). ASU 2015-03 requires that all costs incurred to issue debt be presented in the balance sheet as a direct deduction from the carrying value of the associated debt liability rather than as an asset. The standard does not affect the recognit ion and measurement of debt issuance costs; therefore, the amortization of such costs shall continue to be reported as interest expense. ASU 2015-03 will be effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015, with early adoption permissible for financial statements that have not been previously issued. The new guidance is to be applied on a retrospective basis to all prior periods. The Company does not expect the adoption of ASU 2015-03 to have a mat erial impact on its consolidated financial statements. Other than the accounting pronouncement disclosed above, there were no other new accounting pronouncement s issued during the third quarter of 2015 that could have a material impact on the Company’s financial position, operating results or financials statement disclosures. |
Resticted Cash
Resticted Cash | 9 Months Ended |
Sep. 30, 2015 | |
Restricted Cash And Investments Abstract | |
Resticted Cash Disclosure | NOTE 2 – RESTRICTED CASH The following table includes the composition of the Company’s restricted cash : September 30, December 31, 2015 2014 (In thousands) Cash pledged as collateral to other financial institutions to secure: Derivatives $ 2,980 $ 2,980 Obligations under agreement of loans sold with recourse 1,369 5,427 $ 4,349 $ 8,407 At September 30 , 2015 and December 31 , 2014 , the Bank’s international banking entities, Oriental International Bank Inc. (“OIB”) and Oriental Overseas, a division of the Bank, each held unencumbered certificates of deposit in the amount of $ 300 thousand as the legal reserve required for international banking entities under Puerto Rico law. Each certificate of deposit cannot be withdrawn by OIB or Oriental Overseas without prior written approval of the Office of the Commissioner of Financial Institutions (“OCFI”). As part of its derivative activities, the Company has entered into collateral agreements with certain financial counterparties. At September 30 , 2015 and December 31 , 2014 , the Company had delivered $3.0 million of cash as collateral for such d erivatives activities. As part of the BBVA Acquisition, the Company assumed a contract with FNMA which required collateral to guarantee the repurchase, if necessary, of loans sold with recourse. At September 30 , 2015 and December 31 , 2014 , the Company del ivered as collateral cash amounting to $ 1.4 million and $5.4 million, respectively. The Bank is required by Puerto Rico law to maintain average weekly reserve balances to cover government demand deposits. The amount of those minimum average reserve balanc es for the week that covered September 30 , 2015 was $ 148.9 million ( December 31 , 2014 - $ 141.5 million). At September 30 , 2015 and December 31 , 2014 , the Bank complied with the requirement. Cash and due from bank as well as other short-term, highly liquid securities are used to cover the required average reserve balances . |
Investment Securities
Investment Securities | 9 Months Ended |
Sep. 30, 2015 | |
Investments [Abstract] | |
Securities Purchased Under Agreements To Resell And Investments Securities | NOTE 3 – INVESTMENT SECURITIES 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 September 30 , 2015 and December 31 , 2014 , money market instruments included as part of cash and cash equivalents amounted to $ 4.7 million in both periods . Investment Securities The amortized cost, gross unrealized gains and losses, fair value, and weighted average yield of the securities owned by the Company at September 30 , 2015 and December 31 , 2014 were as follows: September 30, 2015 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 $ 777,412 $ 30,486 $ 97 $ 807,801 2.98% GNMA certificates 30,854 1,075 - 31,929 3.31% CMOs issued by US government-sponsored agencies 147,336 172 1,684 145,824 1.84% Total mortgage-backed securities 955,602 31,733 1,781 985,554 2.81% Investment securities Obligations of US government-sponsored agencies 5,572 31 - 5,603 1.36% Obligations of Puerto Rico government and political subdivisions 18,987 - 5,194 13,793 5.53% Other debt securities 2,593 162 - 2,755 2.95% Total investment securities 27,152 193 5,194 22,151 4.43% Total securities available for sale $ 982,754 $ 31,926 $ 6,975 $ 1,007,705 2.86% Held-to-maturity Mortgage-backed securities FNMA and FHLMC certificates $ 569,599 2,146 1,650 570,095 2.26% Investment securities US Treasury securities 25,040 13 - 25,053 0.49% Total securities held to maturity 594,639 2,159 1,650 595,148 2.19% Total $ 1,577,393 $ 34,085 $ 8,625 $ 1,602,853 2.61% December 31, 2014 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 $ 972,836 $ 37,876 $ 1,203 $ 1,009,509 3.12% GNMA certificates 4,473 288 8 4,753 4.94% CMOs issued by US government-sponsored agencies 179,146 136 3,153 176,129 1.81% Total mortgage-backed securities 1,156,455 38,300 4,364 1,190,391 2.92% Investment securities Obligations of US government-sponsored agencies 7,148 33 - 7,181 1.34% Obligations of Puerto Rico government and public instrumentalities 20,939 - 5,267 15,672 5.41% Other debt securities 3,137 157 - 3,294 2.95% Total investment securities 31,224 190 5,267 26,147 4.23% Total securities available-for-sale $ 1,187,679 $ 38,490 $ 9,631 $ 1,216,538 2.96% Held-to-maturity Mortgage-backed securities FNMA and FHLMC certificates 162,752 1,402 - 164,154 2.48% Total $ 1,350,431 $ 39,892 $ 9,631 $ 1,380,692 2.90% The amortized cost and fair value of the Company’s investment securities at September 30 , 2015 , 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. September 30, 2015 Available-for-sale Held-to-maturity Amortized Cost Fair Value Amortized Cost Fair Value (In thousands) (In thousands) Mortgage-backed securities Due after 5 to 10 years FNMA and FHLMC certificates $ 16,410 $ 16,772 $ - $ - Total due after 5 to 10 years 16,410 16,772 - - Due after 10 years FNMA and FHLMC certificates 761,002 791,029 569,599 570,095 GNMA certificates 30,854 31,929 - - CMOs issued by US government-sponsored agencies 147,336 145,824 - - Total due after 10 years 939,192 968,782 569,599 570,095 Total mortgage-backed securities 955,602 985,554 569,599 570,095 Investment securities Due from 1 to 5 years US Treasury securities - - 25,040 25,053 Obligations of Puerto Rico government and political subdivisions 8,766 7,341 - - Total due from 1 to 5 years 8,766 7,341 25,040 25,053 Due after 5 to 10 years Obligations of US government and sponsored agencies 5,572 5,603 - - Total due after 5 to 10 years 5,572 5,603 - - Due after 10 years Obligations of Puerto Rico government and political subdivisions 10,221 6,452 - - Other debt securities 2,593 2,755 - - Total due after 10 years 12,814 9,207 - - Total investment securities 27,152 22,151 25,040 25,053 Total securities available-for-sale $ 982,754 $ 1,007,705 $ 594,639 $ 595,148 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 nine-month period ended September 30 , 2015 and 2014 , the Company sold $63.5 million and $ 74.1 million , respectively, of availabl e-for-sale Government National Mortgage Association (“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 s . During the quart er ended September 30, 2015, the Company retained securitized GN MA pools totaling $ 27.8 million, amortized cost, at a yield of 3.06 % from its own originations . Previously, the Company was selling all securitized GNMA pools . For the nine-month periods periods ended September 30 , 2015 and 2014 , the Company recorded a net gain on sale of securities of $2.6 million and $4.4 million, respectively. The table below presents the gross realized gains by category for such periods Nine-Month Period Ended September 30,2015 Book Value Description Sale Price at Sale Gross Gains Gross Losses (In thousands) Sale of securities available-for-sale Mortgage-backed securities FNMA and FHLMC certificates $ 40,307 $ 37,736 $ 2,571 $ - GNMA certificates 63,524 63,523 1 - Total $ 103,831 $ 101,259 $ 2,572 $ - Nine-Month Period Ended September 30,2014 Book Value Description Sale Price at Sale Gross Gains Gross Losses (In thousands) Sale of securities available-for-sale Mortgage-backed securities FNMA and FHLMC certificates $ 115,158 $ 110,792 $ 4,366 $ - GNMA certificates 74,091 74,091 - - Total mortgage-backed securities $ 189,249 $ 184,883 $ 4,366 $ - The following table s show the Company ’s gross unrealized losses and fair value of investment securities availab le-for-sale and held-to-maturity , aggregated by investment category and the length of time that individual securities have been in a continuo us unrealized loss position at September 30 , 2015 and December 31 , 2014 : September 30, 2015 12 months or more Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies $ 109,190 $ 1,684 $ 107,506 Obligations of Puerto Rico government and political subdivisions 18,987 5,194 13,793 $ 128,177 $ 6,878 $ 121,299 Less than 12 months Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale FNMA and FHLMC certificates $ 49,679 $ 97 $ 49,582 Securities held-to-maturity FNMA and FHLMC Certificates 342,215 1,650 340,565 $ 391,894 $ 1,747 $ 390,147 Total Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies $ 109,190 $ 1,684 $ 107,506 FNMA and FHLMC certificates 49,679 97 49,582 Obligations of Puerto Rico government and political subdivisions 18,987 5,194 13,793 177,856 6,975 170,881 Securities held-to-maturity FNMA and FHLMC Certificates 342,215 1,650 340,565 $ 520,071 $ 8,625 $ 511,446 December 31, 2014 12 months or more Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale Obligations of Puerto Rico government and political subdivisions $ 20,939 $ 5,267 $ 15,672 CMOs issued by US government-sponsored agencies 143,928 3,086 140,842 FNMA and FHLMC certificates 113,376 1,172 112,204 GNMA certificates 77 8 69 $ 278,320 $ 9,533 $ 268,787 Less than 12 months Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies 15,172 67 15,105 FNMA and FHLMC certificates 63,736 31 63,705 $ 78,908 $ 98 $ 78,810 Total Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies 159,100 3,153 155,947 FNMA and FHLMC certificates 177,112 1,203 175,909 Obligations of Puerto Rico government and political subdivisions 20,939 5,267 15,672 GNMA certificates 77 8 69 $ 357,228 $ 9,631 $ 347,597 The Company performs valuations of the investment securities 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 the statements of operations with the remaining noncredit-related component recognized in other comprehensive income (loss). A credit loss is determined by assessing whether the amortized cost b asis 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 shor tfall 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 sub ject 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. Conseq uently, 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 ($ 501.1 million, amortized cost, or 96 %) with an unr ealized loss position at September 30 , 2015 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 l osses 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 ($ 19.0 million, amortize d cost, or 4 %) with an unrealized loss position at September 30 , 2015 consist of obligations issued or guaranteed by the government of Puerto Rico and its political subdivisions or instrumentalities. The decline in the market value of these securities is m ainly 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 obl igations and structural budget deficits, high unemployment and a shrinking population. Moreover, the negative rating decisions taken by the credit rating agencies have affected the market value and liquidity of these securities. As of September 30 , 2015 , the Company applied a discounted cash flow analysis to the Puerto Rico government bonds to calculate the cash flows expected to be collected and determine if any portion of the decline in market value of these investments was considered an other -than-temp orary impairment. The analysis derives an estimate of value based on the present value of risk-adjusted future cash flows of the underlying investments, and included the following components: The contractual future cash flows of the bonds are projected ba sed on the key terms as set forth in the official statements for each investment. Such key terms include among others the interest rate, amortization schedule, if any, and maturity date. The risk-adjusted cash flows are calculated based on a monthly defaul t probability and recovery rate assumptions based on the credit rating of each investment. Constant monthly default rates are assumed throughout the life of the bonds which are based on the respective security’s credit rating as of the date of the analysis . The adjusted future cash flows are then discounted at the original effective yield of each investment based on the purchase price and expected risk-adjusted future cash flows as of the purchase date of each investment. For certain obligations totaling $ 17.7 million , amortized cost, or 93 % of the obligations issued or guaranteed by the government of Puerto Rico and its political subdivisions or instrumentalities, the discounted cash flow analysis for the investments showed a cumulative default probability at maturity in the range of 6.4 % to 47 %, thus reflecting that it is more likely than not that the bonds will not default at all during their remaining terms (range between 53 % and 93 .6 %). Based on this analysis, the Company determined that it is more like ly than not that it will recover all interest and principal invested in these Puerto Rico government bonds and is therefore not required to recognize a credit loss as of September 30 , 2015 . Also, the Bank’s conclusion is based on the assessment of the spe cific source of repayment of each outstanding bond, and the bonds continue to perform. No principal is due on the bonds until July 1 st , 2017, except for PRHTA that started the principal repayments on July 1 st 2014 and was paid as scheduled. All scheduled interest payments are being collected from different issuers. For one obligation amounting to $ 1.2 million, amortized cost , or 7 % of the Puerto Rico government debt securities, the discounted cash flow analy sis showed a cumulative default of 47 % using a recovery rate of 65 %. T aking into consideration that the bond is guaranteed by the full faith and credit of the Commonwealth of Puerto Rico and the recent downgrades of the general obligation debts after the government announced it needs to restructure its debt , the Company concluded that it is more likely than not that this bond will default during its remaini ng term until maturity in 2028. Based on the above, during the quarter ended September 30, 2015 an ot her -than-temporary impairment was recorded in earnings for the amount of $246 thousand, which represent s the estimated loss resulting from the discounted cash flow analysis. The non-credit related portion of the unrealized losses amounting to $338 thousand was recog nized in other comprehensive income, net of related taxes. Prospectively, for debt securities for which other-than-temporary impairments was recognized in earnings, the difference between the new amortized cost basis and the cash flows expected to be collected will be accreted as interest income. If upon subsequent evaluation, there is a significant increase in the cash flows expected to be co llected or if actual cash flows are significantly greater than cash flows previously expected, such changes will be accounted for as a prospective adjustment to the accretable yield. Subsequent increases and decreases (if not other-than-temporary impairmen t) in the fair value of available-for-sale securities will be included in other comprehensive income. Further negative evidence impacting the liquidity and sources of repayment of the obligations of Puerto Rico and its political subdivisions, could result in a further charge to earnings to recognize estimated credit losses determined to be other-than-temporary. At September 30, 2015, t he Company has cash flow capacity, sufficient liquidity and a strong capital position to maintain the bonds and does not need to sell them in a loss position and it is not likely that the Company will have to sell the investment securities prior to recovery of their amortized cost basis . The following table presents a rollforward of credit-related impairment losses recognized in earnings for the quarter and nine-month periods ended September 30, 2015 and 2014 on available-for-sale securities that the Company does no t have the intent to sell or will not more-likely-than-not be required to sell: Quarter Ended September 30, Nine-Month Period Ended September 30, 2015 2014 2015 2014 (In thousands) Balance at beginning of period $ - $ - $ - $ - Additions from credit losses recognized on available-for-sale securities that had no previous impairment losses 246 - 246 - Balance at end of period $ 246 $ - $ 246 $ - |
Loans Receivable
Loans Receivable | 9 Months Ended |
Sep. 30, 2015 | |
Loans Receivable [Abstract] | |
LOANS RECEIVABLE | NOTE 4 - LOANS The Company’s loan portfolio is composed of two segments, loans initially accounted for under the amortized cost method (referred as "originated and other" loans) and loans acquired (referred as "acquired" loans). Acquired loans are further segregated between acquired BBVAPR loans and acquired Eurobank loans. Acquired Eurobank loans were purchased subject to loss-sharing agreements with the FDIC. The FDIC loss sharing agreement, related to commercial and other-non single f amily acquired Eurobank loans expired on June 30 , 2015 . Notwithstanding the expiration of loss share coverage of non-single family loans, on July 2, 2015, the Company entered into an agreement with the FDIC pursuant to which the FDIC concurred with a poten tial sale of a pool of loss share assets covered under the non-single family loss share agreement. Pursuant to such agreement, the FDIC agreed to pay up to $20 million in loss share coverage with respect to the aggregate loss resulting from any portfolio s ale within 120 days of the agreement. This sale was completed on September 28, 2015 and a $20 million receivable from the FDIC was included in other assets in the unaudited statement of financial condition related to this reimbursement . The coverage for th e single family residential loans will expire on June 30, 2020 . At September 30, 2015, the r emaining covered loans amounting to $ 60.1 million, net carrying amount, are included as part of acquired Eurobank loans under the name "loans secured by 1-4 family residential properties". At December 31 , 2014, covered loans amounted to $ 298.9 million, net carrying amount. Covered loans are no longer a material amount. Therefore, the Company changed its current and prior year loan disclosures d uring the quarter end ed September 30, 2015 . The composition of the Company’s loan portfolio at September 30 , 2015 and December 31 , 2014 was as follows : September 30, December 31, 2015 2014 (In thousands) Originated and other loans and leases held for investment: Mortgage $ 762,636 $ 791,751 Commercial 1,389,353 1,289,732 Consumer 227,756 186,760 Auto and leasing 647,544 575,582 3,027,289 2,843,825 Allowance for loan and lease losses on originated and other loans and leases (80,351) (51,439) 2,946,938 2,792,386 Deferred loan costs, net 4,571 4,282 Total originated and other loans loans held for investment, net 2,951,509 2,796,668 Acquired loans: Acquired BBVAPR loans: Accounted for under ASC 310-20 (Loans with revolving feature and/or acquired at a premium) Commercial 7,736 12,675 Consumer 39,774 45,344 Auto 124,120 184,782 171,630 242,801 Allowance for loan and lease losses on acquired BBVAPR loans accounted for under ASC 310-20 (5,473) (4,597) 166,157 238,204 Accounted for under ASC 310-30 (Loans acquired with deteriorated credit quality, including those by analogy) Mortgage 617,268 656,122 Commercial 395,637 452,201 Construction - 106,361 Consumer 15,072 29,888 Auto 173,979 247,233 1,201,956 1,491,805 Allowance for loan and lease losses on acquired BBVAPR loans accounted for under ASC 310-30 (19,986) (13,481) 1,181,970 1,478,324 Total acquired BBVAPR loans, net 1,348,127 1,716,528 Acquired Eurobank loans: Loans secured by 1-4 family residential properties 92,757 102,162 Commercial 144,704 256,488 Consumer 2,708 4,506 Total acquired Eurobank loans 240,169 363,156 Allowance for loan and lease losses on Eurobank loans (90,332) (64,245) Total acquired Eurobank loans, net 149,837 298,911 Total acquired loans, net 1,497,964 2,015,439 Total held for investment, net 4,449,473 4,812,107 Mortgage loans held for sale 19,203 14,539 Total loans, net $ 4,468,676 $ 4,826,646 On September 28, 2015, the Company sold a portion of covered non-performing commercial loans amounting to $ 197.1 million unpaid principal balance or UPB ($ 100.0 million carrying amount). The sales price was 18.44% of UPB, or $ 36.3 million. The FDIC agreed to cover $20.0 million of losses as part of its loss-share agreement with the Company. As a result, a $20.0 million reimbursement was recorded in the statement of operations. The Company also recorded a $ 32.9 million provision for loan and lease losses fo r acquired Eurobank loans, which was partially offset by $ 4.6 million in cost recoveries. Also, as part of this transaction, the Company sold certain non-performing commercial loans and real estate owned from the BBVAPR acquisition amounting to $ 38.1 milli on unpaid principal balance ($ 9.9 million carrying amount). The sales price was $ 5.2 million. As a result, a $ 5.2 million provision for loan and lease losses was recorded for BBVAPR acquired loans, which was partially offset by $ 2.4 million in cost recover ies. In addition, certain additional real estate owned with a carrying amount of $ 11.0 million was sold for $ 1.7 million. At September 30 , 2015, the Company had a $13.0 million receivable related to this sale and a $20.0 million receivable from the FDIC reimbursement O riginated and Other Loans and L eases 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 table s present the aging of the recorded investment in gross originated and other loans held for investment as of September 30 , 2015 and December 31 , 2014 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 r epurchase, even when they elect not to exercise that option . September 30, 2015 Loans 90+ Days Past Current Due and 30-59 Days 60-89 Days 90+ Days Total Past in Non- Current Still Past Due Past Due Past Due Due Accrual Accruing Total Loans Accruing (In thousands) Mortgage Traditional (by origination year): Up to the year 2002 $ 81 $ 2,270 $ 3,900 $ 6,251 $ - $ 53,330 $ 59,581 $ 73 Years 2003 and 2004 364 4,723 5,826 10,913 - 90,950 101,863 - Year 2005 - 2,525 3,686 6,211 - 49,389 55,600 - Year 2006 97 2,853 8,133 11,083 137 69,207 80,427 - Years 2007, 2008 and 2009 539 2,320 15,442 18,301 - 76,017 94,318 666 Years 2010, 2011, 2012, 2013 599 1,249 10,337 12,185 - 142,346 154,531 74 Years 2014 and 2015 - 96 185 281 - 76,111 76,392 - 1,680 16,036 47,509 65,225 137 557,350 622,712 813 Non-traditional - 1,918 3,468 5,386 14 26,849 32,249 - Loss mitigation program 11,696 5,981 16,001 33,678 4,786 61,703 100,167 3,757 13,376 23,935 66,978 104,289 4,937 645,902 755,128 4,570 Home equity secured personal loans 64 - - 64 - 451 515 - GNMA's buy-back option program - - 6,993 6,993 - - 6,993 - 13,440 23,935 73,971 111,346 4,937 646,353 762,636 4,570 Commercial Commercial secured by real estate: Corporate - - - - - 224,110 224,110 - Institutional - - - - - 34,342 34,342 - Middle market - - 6,212 6,212 7,889 193,154 207,255 - Retail 516 350 7,222 8,088 1,139 202,534 211,761 - Floor plan - - - - - 2,925 2,925 - Real estate - - - - - 16,766 16,766 - 516 350 13,434 14,300 9,028 673,831 697,159 - Other commercial and industrial: Corporate - - - - - 71,714 71,714 - Institutional - - - - 193,904 189,882 383,786 - Middle market 20 - 223 243 2,046 105,554 107,843 - Retail 276 255 1,204 1,735 944 89,989 92,668 - Floor plan 178 83 475 736 - 35,447 36,183 - 474 338 1,902 2,714 196,894 492,586 692,194 - 990 688 15,336 17,014 205,922 1,166,417 1,389,353 - September 30, 2015 Loans 90+ Days Past Current Due and 30-59 Days 60-89 Days 90+ Days Total Past in Non- Current Still Past Due Past Due Past Due Due Accrual Accruing Total Loans Accruing (In thousands) Consumer Credit cards 436 182 344 962 - 20,186 21,148 - Overdrafts 15 - - 15 - 260 275 - Personal lines of credit 31 27 39 97 21 2,066 2,184 - Personal loans 1,798 822 862 3,482 641 183,703 187,826 - Cash collateral personal loans 171 103 2 276 - 16,047 16,323 - 2,451 1,134 1,247 4,832 662 222,262 227,756 - Auto and leasing 52,412 19,215 8,986 80,613 282 566,649 647,544 - Total $ 69,293 $ 44,972 $ 99,540 $ 213,805 $ 211,803 $ 2,601,681 $ 3,027,289 $ 4,570 December 31, 2014 Loans 90+ Days Past Current Due and 30-59 Days 60-89 Days 90+ Days Total Past in Non- Current Still Past Due Past Due Past Due Due Accrual Accruing Total Loans Accruing (In thousands) Mortgage Traditional (by origination year): Up to the year 2002 $ 4,128 $ 3,157 $ 4,395 $ 11,680 $ - $ 54,064 $ 65,744 $ 134 Years 2003 and 2004 10,484 4,735 6,489 21,708 455 87,506 109,669 - Year 2005 3,824 2,205 4,454 10,483 131 49,858 60,472 - Year 2006 5,706 3,298 8,667 17,671 548 67,331 85,550 89 Years 2007, 2008 and 2009 5,283 1,809 7,646 14,738 761 77,990 93,489 - Years 2010, 2011, 2012, 2013 3,394 2,992 6,900 13,286 - 149,030 162,316 365 Year 2014 290 - - 290 - 41,818 42,108 - 33,109 18,196 38,551 89,856 1,895 527,597 619,348 588 Non-traditional 1,477 584 3,223 5,284 - 30,916 36,200 - Loss mitigation program 8,199 7,106 14,114 29,419 6,358 57,666 93,443 2,766 42,785 25,886 55,888 124,559 8,253 616,179 748,991 3,354 Home equity secured personal loans - - - - - 517 517 - GNMA's buy-back option program - - 42,243 42,243 - - 42,243 - 42,785 25,886 98,131 166,802 8,253 616,696 791,751 3,354 Commercial Commercial secured by real estate: Corporate - - - - - 133,076 133,076 - Institutional - - - - - 36,611 36,611 - Middle market - 645 396 1,041 8,494 154,515 164,050 - Retail 330 561 7,275 8,166 1,445 166,017 175,628 - Floor plan - - - - - 1,650 1,650 - Real estate - - - - - 12,628 12,628 - 330 1,206 7,671 9,207 9,939 504,497 523,643 - Other commercial and industrial: Corporate - - - - - 63,746 63,746 - Institutional - - - - - 478,935 478,935 - Middle market - - 618 618 - 91,716 92,334 - Retail 866 412 1,061 2,339 1,047 86,785 90,171 - Floor plan - - - - - 40,903 40,903 - 866 412 1,679 2,957 1,047 762,085 766,089 - 1,196 1,618 9,350 12,164 10,986 1,266,582 1,289,732 - December 31, 2014 Loans 90+ Days Past Current Due and 30-59 Days 60-89 Days 90+ Days Total Past in Non- Current Still Past Due Past Due Past Due Due Accrual Accruing Total Loans Accruing (In thousands) Consumer Credit cards 360 139 375 874 - 18,197 19,071 - Overdrafts 20 - - 20 - 287 307 - Personal lines of credit 102 25 102 229 9 1,962 2,200 - Personal loans 1,822 743 678 3,243 337 144,359 147,939 - Cash collateral personal loans 275 39 9 323 - 16,920 17,243 - 2,579 946 1,164 4,689 346 181,725 186,760 - Auto and leasing 47,658 16,916 7,420 71,994 145 503,443 575,582 - Total $ 94,218 $ 45,366 $ 116,065 $ 255,649 $ 19,730 $ 2,568,446 $ 2,843,825 $ 3,354 During the quarter ended September 30, 2015, the Company changed its early delinquency reporting on mortgage loans from one scheduled payment due to two scheduled payments due in order to comply with regulatory reporting instructions and be comparable with local peers, except for troubled debt restructured loans which remain using one scheduled payment due. A t September 30 , 2015 and December 31 , 2014 , the Company had $ 3 38.3 million and $ 450.2 million, respectively, in loans granted to the Puerto Rico g overnment, including its instrumentalities , public corporations and municipalities as part of the institutional commercial loan segment. All loans granted to Puerto Rico government were current at September 30 , 2015 and December 31 , 2014 . We, as part of a bank syndicate, have granted various extensions to the Puerto Rico Electric Power Authority (“PREPA”) and on November 5, 2015 entered into a Restructuring Support Agreement with a view towards restructuring the debt on terms that provide for full repayment of the debt to the Bank . After the first extension in the third quarter of 2014, the Company classified the credit as substandard and a troubled-debt restructuring. The Company conducted an impairment analysis considering the probability of collection of principal and interest, which included a financial model to project the future liquidity status of PREPA under vari ous scenarios and its capacity to service its financial obl igations, and concluded that PREPA had sufficient cash flows for the repayment of the line of credit. Despite the Company’s analysis showing PREPA’s capacity to repay the line of credit, the Co mpany placed its participation in non-accrual and recorded a $ 24 million provision during the first quarter of 2015, based on management’s concerns regarding PREPA’s willingness to repay the debt. At September 30, 2015, the allowance for loan and lease los ses to PREPA was $ 23.4 million. Since it was placed in non-accrual, interest payments have been applied to principal. Acquired Loans Acquired loans were initially measured at fair value and subsequently accounted for under either Accounting Standards Codification Topic ("ASC") 310-30 (Loans and Debt Securities Acquired with Deteriorated Credit Quality) or ASC 310-20 (Non-refundable fees and Other Costs). We have acquired loans in two acquisitions, BBVAPR and Eurobank . Acqui red BBVAPR 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 , excluding the acquired Eurobank loan 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 prem ium is discontinued. Acquired BBVAPR loans 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 s present the aging of the recorded investment in gross acquired BBVAPR loans accounted for under ASC 310-20 as of September 30 , 2015 and December 31 , 2014 , by class of loans : September 30, 2015 Loans 90+ Days Past Current Due and 30-59 Days 60-89 Days 90+ Days Total Past in Non- Current Still Past Due Past Due Past Due Due Accrual Accruing Total Loans Accruing (In thousands) Commercial Commercial secured by real estate Retail $ - $ - $ 279 $ 279 $ 47 $ - $ 326 $ - Floor plan - - 478 478 - 2,470 2,948 - - - 757 757 47 2,470 3,274 - Other commercial and industrial Retail 228 24 61 313 - 3,475 3,788 - Floor plan - 10 7 17 1 656 674 - 228 34 68 330 1 4,131 4,462 - 228 34 825 1,087 48 6,601 7,736 - Consumer Credit cards 825 422 769 2,016 - 34,510 36,526 - Personal loans 89 14 41 144 - 3,104 3,248 - 914 436 810 2,160 - 37,614 39,774 - Auto 9,010 2,921 1,040 12,971 49 111,100 124,120 - Total $ 10,152 $ 3,391 $ 2,675 $ 16,218 $ 97 $ 155,315 $ 171,630 $ - December 31, 2014 Loans 90+ Days Past Current Due and 30-59 Days 60-89 Days 90+ Days Total Past in Non- Current Still Past Due Past Due Past Due Due Accrual Accruing Total Loans Accruing (In thousands) Commercial Commercial secured by real estate Retail $ - $ - $ 351 $ 351 $ - $ - $ 351 $ - Floor plan - 62 345 407 - 3,724 4,131 - - 62 696 758 - 3,724 4,482 - Other commercial and industrial Retail 155 67 192 414 2 3,705 4,121 - Floor plan 202 134 223 559 10 3,503 4,072 - 357 201 415 973 12 7,208 8,193 - 357 263 1,111 1,731 12 10,932 12,675 - Consumer Credit cards 1,376 654 1,399 3,429 - 38,419 41,848 - Personal loans 151 47 77 275 - 3,221 3,496 - 1,527 701 1,476 3,704 - 41,640 45,344 - Auto 11,003 3,453 1,262 15,718 76 168,988 184,782 - Total $ 12,887 $ 4,417 $ 3,849 $ 21,153 $ 88 $ 221,560 $ 242,801 $ - Acquired BBVAPR Loans Accounted for under ASC 310-30 (including those accounted for under ASC 310-30 by analogy) Acquired BBVAPR loans , 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 acquired BBVAPR loans with deteriorated credit quality, including those accounted under ASC 310-30 by analogy, in the statements of financial condition at September 30 , 2015 and December 31 , 2014 is as follows: September 30, December 31, 2015 2014 (In thousands) Contractual required payments receivable $2,022,672 $2,394,378 Less: Non-accretable discount $442,103 $456,627 Cash expected to be collected 1,580,569 1,937,751 Less: Accretable yield 378,613 445,946 Carrying amount, gross 1,201,956 1,491,805 Less: allowance for loan and lease losses 19,986 13,481 Carrying amount, net $1,181,970 $1,478,324 At September 30 , 2015 and December 31 , 2014 , the Company had $ 80.2 million and $ 168.8 million, respectively, in loans granted to the Puerto Rico government, including its instrumentalities, public corporations and municipalities as part of its acquired BBVAPR loans accounted for under ASC 310-30. This entire amount was current at September 30 , 2015 and December 31 , 2014 . The following tables describe the accretable yield and non- accretable discount activity of acquired BBVAPR loans accounted f or under ASC 310-30 for the quarters and nine -month period s ended September 30 , 2015 and 2014 Quarter Ended September 30, 2015 Mortgage Commercial Construction Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 275,880 $ 71,563 $ 24,613 $ 31,531 $ 8,461 $ 412,048 Accretion (8,614) (12,693) (2,719) (5,463) (1,207) (30,696) Change in expected cash flows - 6,134 1,396 (1) (1) 7,528 Transfer (to) from non-accretable discount 75 (6,450) (4,075) 148 35 (10,267) Balance at end of period $ 267,341 $ 58,554 $ 19,215 $ 26,215 $ 7,288 $ 378,613 Non-Accretable Discount Activity: Balance at beginning of period $ 389,107 $ 10,770 $ 6,994 $ 23,690 $ 19,356 $ 449,917 Change in actual and expected losses (2,184) (12,090) (2,937) (555) (315) (18,081) Transfer from (to) accretable yield (75) 6,450 4,075 (148) (35) 10,267 Balance at end of period $ 386,848 $ 5,130 $ 8,132 $ 22,987 $ 19,006 $ 442,103 Nine-Month Period Ended September 30, 2015 Mortgage Commercial Construction Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 298,364 $ 61,196 $ 25,829 $ 53,998 $ 6,559 $ 445,946 Accretion (26,414) (33,049) (8,672) (18,614) (3,420) (90,169) Change in expected cash flows - 6,134 1,396 (1) (1) 7,528 Transfer (to) from non-accretable discount (4,609) 24,273 662 (9,168) 4,150 15,308 Balance at end of period $ 267,341 $ 58,554 $ 19,215 $ 26,215 $ 7,288 $ 378,613 Non-Accretable Discount Activity: Balance at beginning of period $ 389,839 $ 23,069 $ 3,486 $ 16,215 $ 24,018 $ 456,627 Change in actual and expected losses (7,600) 6,334 5,308 (2,396) (862) 784 Transfer from (to) accretable yield 4,609 (24,273) (662) 9,168 (4,150) (15,308) Balance at end of period $ 386,848 $ 5,130 $ 8,132 $ 22,987 $ 19,006 $ 442,103 Quarter Ended September 30, 2014 Mortgage Commercial Construction Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 269,105 $ 70,491 $ 30,672 $ 64,620 $ 9,718 $ 444,606 Accretion (9,627) (12,575) (5,929) (8,825) (1,384) (38,340) Transfer (to) from non-accretable discount - 1,137 (3,550) 237 40 (2,136) Balance at end of period $ 259,478 $ 59,053 $ 21,193 $ 56,032 $ 8,374 $ 404,130 Non-Accretable Discount Activity: Balance at beginning of period $ 455,789 $ 41,050 $ 5,388 $ 27,279 $ 25,218 $ 554,724 Change in actual and expected losses (15,802) (4,215) (8,937) (2,800) (1,119) (32,873) Transfer from (to) accretable yield - (1,137) 3,550 (237) (40) 2,136 Balance at end of period $ 439,987 $ 35,698 $ 1 $ 24,242 $ 24,059 $ 523,987 Nine-Month Period September 30, 2014 Mortgage Commercial Construction Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 287,841 96,139 42,993 77,845 12,735 517,553 Accretion (28,359) (37,509) (16,388) (31,243) (4,824) (118,323) Transfer (to) from non-accretable discount (4) 423 (5,412) 9,430 463 4,900 Balance at end of period $ 259,478 59,053 21,193 56,032 8,374 404,130 Non-Accretable Discount Activity: Balance at beginning of period $ 463,166 42,515 5,851 39,645 28,410 579,587 Change in actual and expected losses (23,183) (6,394) (11,262) (5,973) (3,888) (50,700) Transfer from (to) accretable yield 4 (423) 5,412 (9,430) (463) (4,900) Balance at end of period $ 439,987 35,698 1 24,242 24,059 523,987 Acquired Eurobank Loans The carrying amount of acquired Eurobank loans at September 30 , 2015 and December 31 , 2014 is as follows: September 30 December 31 2015 2014 (In thousands) Contractual required payments receivable $ 357,702 $ 535,425 Less: Non-accretable discount 21,675 62,410 Cash expected to be collected 336,027 473,015 Less: Accretable yield 95,858 109,859 Carrying amount, gross 240,169 363,156 Less: Allowance for covered loan and lease losses 90,332 64,245 Carrying amount, net $ 149,837 $ 298,911 The following tables describe the accretable yield and non- a ccretable discount activity of acquired Eurobank loans for the quarters and nine-month periods periods ended September 30 , 2015 and 2014 : Quarter Ended September 30, 2015 Loans Secured by 1-4 Family Residential Properties Commercial and Other Construction Construction & Development Secured by 1-4 Family Residential Properties Leasing Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 55,806 $ 27,473 $ 18,349 $ 1,103 $ 1,910 $ 104,641 Accretion (3,543) (10,100) (1,446) (711) (214) (16,014) Change in expected cash flows 4,320 43,775 (10,749) 270 118 37,734 Transfer from (to) non-accretable discount (2,188) (30,400) 175 307 1,603 (30,503) Balance at end of period $ 54,395 $ 30,748 $ 6,329 $ 969 $ 3,417 $ 95,858 Non-Accretable Discount Activity: Balance at beginning of period $ 11,402 $ - $ - $ - $ 9,730 $ 21,132 Change in actual and expected losses (8) (30,400) 175 307 (34) (29,960) Transfer from (to) accretable yield 2,188 30,400 (175) (307) (1,603) 30,503 Balance at end of period $ 13,582 $ - $ - $ - $ 8,093 $ 21,675 Nine-Month Period Ended September 30, 2015 Loans Secured by 1-4 Family Residential Properties Commercial and Other Construction Construction & Development Secured by 1-4 Family Residential Properties Leasing Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 47,636 $ 37,919 $ 20,753 $ 2,479 $ 1,072 $ 109,859 Accretion (10,337) (28,002) (2,470) (3,040) (427) (44,276) Change in expected cash flows 4,320 43,775 (10,749) 270 118 37,734 Transfer from (to) non-accretable discount 12,776 (22,944) (1,205) 1,260 2,654 (7,459) Balance at end of period $ 54,395 $ 30,748 $ 6,329 $ 969 $ 3,417 $ 95,858 Non-Accretable Discount Activity: Balance at beginning of period $ 27,348 $ 24,464 $ - $ - $ 10,598 $ 62,410 Change in actual and expected losses (990) (47,408) (1,205) 1,260 149 (48,194) Transfer from (to) accretable yield (12,776) 22,944 1,205 (1,260) (2,654) 7,459 Balance at end of period $ 13,582 $ - $ - $ - $ 8,093 $ 21,675 Quarter Ended September 30, 2014 Loans Secured by 1-4 Family Residential Properties Commercial and Other Construction Construction & Development Secured by 1-4 Family Residential Properties Leasing Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 50,586 $ 70,227 $ - $ 5,100 $ 2,148 $ 128,061 Accretion (3,882) (13,044) (1,056) (2,500) (404) (20,886) Transfer from (to) non-accretable discount - 698 1,056 305 750 2,809 Balance at end of period $ 46,704 $ 57,881 $ - $ 2,905 $ 2,494 $ 109,984 Non-Accretable Discount Activity: Balance at beginning of period $ 29,859 $ 46,596 $ - $ - $ 8,769 $ 85,224 Change in actual and expected losses (888) (5,648) 1,056 305 700 (4,475) Transfer (to) from accretable yield - (698) (1,056) (305) (750) (2,809) Balance at end of period $ 28,971 $ 40,250 $ - $ - $ 8,719 $ 77,940 Nine-Month Period Ended September 30, 2014 Loans Secured by 1-4 Family Residential Properties Commercial and Other Construction Construction & Development Secured by 1-4 Family Residential Properties Leasing Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 53,250 $ 95,093 $ 1,690 $ 10,238 $ 2,688 $ 162,959 Accretion (12,079) (45,037) (3,206) (7,888) (944) (69,154) Transfer from (to) non-accretable discount 5,533 7,825 1,516 555 750 16,179 Balance at end of period $ 46,704 $ 57,881 $ - $ 2,905 $ 2,494 $ 109,984 Non-Accretable Discount Activity: Balance at beginning of period $ 39,182 $ 81,092 $ - $ - $ 9,203 $ 129,477 Change in actual and expected losses (4,678) (33,017) 1,516 555 266 (35,358) Transfer (to) from accretable yield (5,533) (7,825) (1,516) (555) (750) (16,179) Balance at end of period $ 28,971 $ 40,250 $ - $ - $ 8,719 $ 77,940 At September 30, 2015, $ 92.8 million in gross loans continue subject to the loss-s haring agreements with the FDIC and are disclosed under the name "loans secured by 1-4 family residential properties ." At September 30, 2015, the net carrying amount of these loans was $60.1 million. Non-accrual Loans The following table presents the recorded investment in loans in non-accrual status by class of loans as of September 30 , 2015 and December 31 , 2014 : September 30, December 31, 2015 2014 (In thousands) Originated and other loans and leases held for investment Mortgage Traditional (by origination year): Up to the year 2002 $ 3,827 $ 4,427 Years 2003 and 2004 6,275 7,042 Year 2005 3,686 4,585 Year 2006 8,270 9,274 Years 2007, 2008 and 2009 14,949 8,579 Years 2010, 2011, 2012, 2013 10,264 7,365 Years 2014 and 2015 185 - 47,456 41,272 Non-traditional 3,482 3,224 Loss mitigation program 19,227 20,934 70,165 65,430 Commercial Commercial secured by real estate Middle market 14,101 9,534 Retail 8,958 9,000 23,059 18,534 Other commercial and industrial Institutional 193,904 - Middle market 2,270 618 Retail 2,364 2,527 Floor plan 475 - 199,013 3,145 222,072 21,679 Consumer Credit cards 344 375 Personal lines of credit 60 110 Personal loans 1,598 1,092 Cash collateral personal loans 2 13 2,004 1,590 Auto and leasing 10,076 8,668 Total non-accrual originated loans $ 304,317 $ 97,367 September 30, December 31, 2015 2014 (In thousands) Acquired BBVAPR loans accounted for under ASC 310-20 Commercial Commercial secured by real estate Retail $ 326 $ 351 Floor plan 477 407 803 758 Other commercial and industrial Retail 61 195 Floor plan 9 234 70 429 873 1,187 Consumer Credit cards 769 1,399 Personal loans 41 77 810 1,476 Auto 1,244 1,512 Total non-accrual acquired BBVAPR loans accounted for under ASC 310-20 2,927 4,175 Total non-accrual loans $ 307,244 $ 101,542 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. Delinquent residential mortgage loans insured or guaranteed under applicable FHA and VA programs are classified as non-performing loans when they become 90 days or more past due, but are not placed in non-accrual status until they become 18 months or more past due, since they are insured loans. Therefore, these loans are included as non-performing loans but excluded from non-accrual loans. During the quarter ended March 31, 2015, the revolving line of credit to PREPA was clas sified as non-accrual. At September 30 , 2015 , this line of credit had an unpaid principal balance of $ 193.9 million. For the second and third quarter of 2015 , interest payments received were applied to principal. As of September 30 , 2015 , the specific r eserve was $23. 4 million. At September 30 , 2015 and December 31 , 2014 , loans whose terms have been extended and w hich are classified as troubled- debt restructuring s that are not included in non-accrual loans amounted to $ 91. 2 million and $ 274 .4 million, respectively, as they are performing under their new terms. At December 31, 2014, the balance included the revolving line of credit to PREPA . 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 $ 233.6 million and $236.9 million at September 30 , 2015 and December 31 , 2014 , respectively. Impaired commercial loans at September 30 , 2015 and December 31 , 2014 included the PREPA line of credit with an unpaid principal balance of $ 193.9 million and $ 200.0 million , 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 $ 26.8 million and $841 thousand at September 30 , 2015 and December 31 , 2014 , respectively. The valuation allowance for impaired commercial loans at September 30, 2015 includes $23.4 million of specific allowance for PREPA recorded during the quarter ended March 31, 2015. The total investment in impaire d mortgage loans was $ 90.5 million and $94.2 million at September 30 , 2015 and December 31 , 2014 , respectively. Impairment on mortgage loans assessed as troubled-debt restructurings was measured using the present value of cash flows. The valuation allowanc e for impaired mortgage loans amounted to $8. 2 million and $9.0 million at September 30 , 2015 and December 31 , 2014 , respectively. O riginated and Other Loans and L eases Held for Investment T he Company ’s recorded investment in commercial and mortgage loans, excluding acquired Eurobank loans, categorized as originated and other loans and leases held for investment that were individually evaluated for impairment and the related allowan ce for loan and lease losses at September 30 , 2015 and December 31 , 2014 are as follows : September 30, 2015 Unpaid Recorded Related Principal Investment Allowance Coverage (In thousands) Impaired loans with specific allowance: Commercial $ 213,930 $ 206,227 $ 26,809 13% Residential troubled-debt restructuring 97,203 90,530 8,249 9% Impaired loans with no specific allowance: Commercial 30,464 26,887 N/A N/A Total investment in impaired loans $ 341,597 $ 323,644 $ 35,058 11% December 31, 2014 Unpaid Recorded Related Principal Investment Allowance Coverage (In thousands) Impaired loans with specific allowance Commercial $ 6,349 $ 6,226 $ 841 14% Residential troubled-debt restructuring 99,947 94,185 8,968 10% Impaired loans with no specific allowance Commercial 237,806 230,044 N/A N/A Total investment in impaired loans $ 344,102 $ 330,455 $ 9,809 3% Acquired BBVAPR Loans Loans Accounted for under ASC 310- 20 (Loans with revolving feature and/or acquired at a premium) T he Company’s recorded investment in acquired BBVAPR commercial loans accounted for under ASC 310-20 that were individually evaluated for impairment and the related allowance for loan and lease losses at September 30 , 2015 and December 31 , 2014 are as follows: September 30, 2015 Unpaid Recorded Related Principal Investment Allowance Coverage (In thousands) Impaired loans with no specific allowance Commercial $ 494 $ 485 N/A N/A Total investment in impaired loans $ 494 $ 485 $ - - December 31, 2014 Unpaid Recorded Specific Principal Investment Allowance Coverage (In thousands) Impaired loans with no specific allowance Commercial $ 672 $ 672 N/A N/A Total investment in impaired loans $ 672 $ 672 $ - - Loans Accounted for under ASC 310-30 (including those accounted for under ASC 310-30 by analogy) T he Company ’s recorded investment in acquired BBVAPR loan pools accounted for under ASC 310-30 and their related allowance for loan and lease losses at September 30 , 2015 and December 31 , 2014 are as follows : September 30, 2015 Coverage Unpaid Recorded to Recorded Principal Investment Allowance Investment (In thousands) Impaired loan pools: Mortgage $ 617,268 $ 22,762 $ 557 2% Commercial 307,271 185,274 11,780 6% Construction 88,365 88,202 4,787 5% Auto 173,979 173,979 2,862 2% Total investment in impaired loan pools $ 1,186,883 $ 470,217 $ 19,986 4% December 31 , 2014 Coverage Unpaid Recorded to Recorded Principal Investment Allowance Investment (In thousands) Impaired loan pools: Commercial 289,228 255,619 5,506 2% Construction 90,786 83,751 7,970 10% Consumer 35,812 29,888 5 0% Total investment in impaired loan pools $ 415,826 $ 369,258 $ 13,481 4% The tables above only |
Allowance for Loan and Lease Lo
Allowance for Loan and Lease Losses | 9 Months Ended |
Sep. 30, 2015 | |
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 September 30 , 2015 and December 31 , 2014 was as follows : September 30, December 31, 2015 2014 (In thousands) Allowance for loans and lease losses on non-acquired loans: Originated and other loans and leases held for investment: Mortgage $ 17,292 $ 19,679 Commercial 35,524 8,432 Consumer 10,816 9,072 Auto and leasing 16,674 14,255 Unallocated 45 1 Total allowance for originated and other loans and lease losses 80,351 51,439 Acquired loans: Acquired BBVAPR loans: Accounted for under ASC 310-20 (Loans with revolving feature and/or acquired at a premium) Commercial 22 65 Consumer 3,057 1,211 Auto 2,394 3,321 5,473 4,597 Accounted for under ASC 310-30 (Loans acquired with deteriorated credit quality, including those by analogy) Mortgage 473 - Commercial 16,567 13,476 Consumer 84 5 Auto 2,862 - 19,986 13,481 Total allowance for acquired BBVAPR loans and lease losses 105,810 69,517 Acquired Eurobank loans: Loans secured by 1-4 family residential properties 32,685 15,522 Commercial and other construction 57,280 48,334 Consumer 367 389 Total allowance for acquired Eurobank loan and lease losses 90,332 64,245 Total allowance for loan and lease losses $ 196,142 $ 133,762 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. Whi le 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 loan s 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 acquisiti on. As part of the Company’s continuous enhancement to the allowance for loan and lease losses methodology, during the quarter ended June 30 , 2015 an assessment of the look-back period and historical loss factor was performed for auto and leasing and cons umer and commercial loan portfolios. The analysis was based on the trends observed and their relation with the economic cycle as of the period ended June 30, 2015 . As a result, for the commercial portfolio, the look-back period was changed to 36 months f rom the previously determined 12 months. For auto and leasing and consumer, a look back period of 24 months was maintained. In addition, during the quarter ended June 30, 2015 , an assessment of environmental factors was performed for commercial, auto, an d consumer portfolios. As a result, the environmental factors continue to reflect our assessment of the impact to our portfolio, taking into consideration the current evolution of the portfolio and expected impact, due to recent economic developments, chan ges in values of collateral and delinquencies, among others. These changes in the allowance for loan and lease losses’ look-back period and the result of the assessment in economic factors for the commercial, auto, and consumer portfolios are considered a change in accounting estimate as per ASC 250-10 provisions, where adjustments should be made prospectively . No changes were made during the quarter ended September 30, 2015. Allowance for Originated and Other Loan and Lease Losses 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 September 30, 2015 Mortgage Commercial Consumer Auto and Leasing Unallocated Total (In thousands) Allowance for loan and lease losses for originated and other loans: Balance at beginning of period $ 18,076 $ 34,779 $ 10,464 $ 15,064 $ 606 $ 78,989 Charge-offs (1,058) (828) (2,471) (8,510) - (12,867) Recoveries 270 63 186 3,251 - 3,770 Provision (recapture) for originated and other loans and lease losses 4 1,510 2,637 6,869 (561) 10,459 Balance at end of period $ 17,292 $ 35,524 $ 10,816 $ 16,674 $ 45 $ 80,351 Nine-Month Period Ended September 30, 2015 Mortgage Commercial Consumer Auto and Leasing Unallocated Total (In thousands) Allowance for loan and lease losses for originated and other loans: Balance at beginning of period $ 19,679 $ 8,432 $ 9,072 $ 14,255 $ 1 $ 51,439 Charge-offs (3,829) (2,317) (6,456) (24,307) - (36,909) Recoveries 338 372 729 10,060 - 11,499 Provision (recapture) for originated and other loans and lease losses 1,104 29,037 7,471 16,666 44 54,322 Balance at end of period $ 17,292 $ 35,524 $ 10,816 $ 16,674 $ 45 $ 80,351 September 30, 2015 Mortgage Commercial Consumer Auto and Leasing Unallocated Total (In thousands) Allowance for loan and lease losses on originated and other loans: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 8,249 $ 26,809 $ - $ - $ - $ 35,058 Collectively evaluated for impairment 9,043 8,715 10,816 16,674 45 45,293 Total ending allowance balance $ 17,292 $ 35,524 $ 10,816 $ 16,674 $ 45 $ 80,351 Loans: Individually evaluated for impairment $ 90,530 $ 233,114 $ - $ - $ - $ 323,644 Collectively evaluated for impairment 672,106 1,156,239 227,756 647,544 - 2,703,645 Total ending loan balance $ 762,636 $ 1,389,353 $ 227,756 $ 647,544 $ - $ 3,027,289 Quarter Ended September 30, 2014 Mortgage Commercial Consumer Auto and Leasing Unallocated Total (In thousands) Allowance for loan and lease losses for originated and other loans: Balance at beginning of period $ 19,062 $ 12,423 $ 7,887 $ 11,127 $ 139 $ 50,638 Charge-offs (1,563) (1,081) (1,585) (7,393) - (11,622) Recoveries 138 56 66 2,434 - 2,694 Provision (recapture) for originated and other loan and lease losses 1,235 (2,286) 2,341 7,236 43 8,569 Balance at end of period $ 18,872 $ 9,112 $ 8,709 $ 13,404 $ 182 $ 50,279 Nine-Month Period Ended September 30, 2014 Mortgage Commercial Consumer Auto and Leasing Unallocated Total (In thousands) Allowance for loan and lease losses for originated and other loans: Balance at beginning of period $ 19,937 $ 14,897 $ 6,006 $ 7,866 $ 375 $ 49,081 Charge-offs (3,764) (2,043) (3,820) (17,994) - (27,621) Recoveries 374 269 457 6,094 - 7,194 Provision (recapture) for originated and other loan and lease losses 2,325 (4,011) 6,066 17,438 (193) 21,625 Balance at end of period $ 18,872 $ 9,112 $ 8,709 $ 13,404 $ 182 $ 50,279 December 31, 2014 Mortgage Commercial Consumer Auto and Leasing Unallocated Total (In thousands) Allowance for loan and lease losses on originated and other loans: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 8,968 $ 841 $ - $ - $ - $ 9,809 Collectively evaluated for impairment 10,711 7,591 9,072 14,255 1 41,630 Total ending allowance balance $ 19,679 $ 8,432 $ 9,072 $ 14,255 $ 1 $ 51,439 Loans: Individually evaluated for impairment $ 94,185 $ 236,270 $ - $ - $ - $ 330,455 Collectively evaluated for impairment 697,566 1,053,462 186,760 575,582 - 2,513,370 Total ending loan balance $ 791,751 $ 1,289,732 $ 186,760 $ 575,582 $ - $ 2,843,825 During the quarter ended March 31, 2015 the Company placed its $200 million participation in a line of credit to PREPA on non-accrual status and recorded a $24.0 million prov ision for loan and lease losses. Since April 1, 2015 , interest payments received have been applied to principal. As of September 30 , 2015 , the specific reserve was maintained at $23.4 million . Allowance for BBVAPR Acquired Loan Losses Loans a ccounted for under ASC 310- 2 0 (Loans with revolving feature and/or acquired at a premium) T he following table s present the activity in our allowance for loan losses and related recorded investment of the associated loans in our BBVAPR acquired loan portfolio , excluding loans accounted for under ASC 310-30, for the periods indicated : Quarter Ended September 30, 2015 Commercial Consumer Auto Unallocated Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Balance at beginning of period $ 54 $ 2,616 $ 2,859 $ - $ 5,529 Charge-offs (22) (1,103) (1,150) - (2,275) Recoveries 7 59 502 - 568 Provision (recapture) for acquired BBVAPR loan and lease losses accounted for under ASC 310-20 (17) 1,485 183 - 1,651 Balance at end of period $ 22 $ 3,057 $ 2,394 $ - $ 5,473 Nine-Month Period Ended September 30, 2015 Commercial Consumer Auto Unallocated Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Balance at beginning of period $ 65 $ 1,211 $ 3,321 $ - $ 4,597 Charge-offs (38) (3,789) (3,454) - (7,281) Recoveries 24 622 1,574 - 2,220 Provision (recapture) for acquired BBVAPR loan and lease losses accounted for under ASC 310-20 (29) 5,013 953 - 5,937 Balance at end of period $ 22 $ 3,057 $ 2,394 $ - $ 5,473 September 30, 2015 Commercial Consumer Auto Unallocated Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Ending allowance balance attributable to loans: Collectively evaluated for impairment $ 22 $ 3,057 $ 2,394 $ - $ 5,473 Total ending allowance balance $ 22 $ 3,057 $ 2,394 $ - $ 5,473 Loans: Individually evaluated for impairment $ 485 $ - $ - $ - $ 485 Collectively evaluated for impairment 7,251 39,774 124,120 - 171,145 Total ending loan balance $ 7,736 $ 39,774 $ 124,120 $ - $ 171,630 Quarter Ended September 30, 2014 Commercial Consumer Auto Unallocated Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Balance at beginning of period $ 464 $ 338 $ 2,642 $ - $ 3,444 Charge-offs (228) (1,432) (1,748) - (3,408) Recoveries 35 139 519 - 693 Provision (recapture) for acquired loan and lease losses accounted for under ASC 310-20 (1) 1,986 1,746 - 3,731 Balance at end of period $ 270 $ 1,031 $ 3,159 $ - $ 4,460 Nine-Month Period Ended September 30, 2014 Commercial Consumer Auto Unallocated Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Balance at beginning of period $ 926 $ - $ 1,428 $ - $ 2,354 Charge-offs (512) (5,442) (4,414) - (10,368) Recoveries 65 363 1,504 - 1,932 Provision (recapture) for acquired loan and lease losses accounted for under ASC 310-20 (209) 6,110 4,641 - 10,542 Balance at end of period $ 270 $ 1,031 $ 3,159 $ - $ 4,460 December 31, 2014 Commercial Consumer Auto Unallocated Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Ending allowance balance attributable to loans: Collectively evaluated for impairment $ 65 $ 1,211 $ 3,321 $ - $ 4,597 Total ending allowance balance $ 65 $ 1,211 $ 3,321 $ - $ 4,597 Loans: Individually evaluated for impairment $ 672 $ - $ - $ - $ 672 Collectively evaluated for impairment 12,003 45,344 184,782 - 242,129 Total ending loan balance $ 12,675 $ 45,344 $ 184,782 $ - $ 242,801 Loans Accounted for under ASC 310- 3 0 ( including those accounted for under ASC 310-30 by analogy ) The following table s present the activity in our allowance for loan losses and related recorded investment of the associated loans in our acquired BBVAPR loan portfolio accounted for under ASC 310-30, for the periods indicated : Quarter Ended September 30, 2015 Mortgage Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-30: Balance at beginning of period $ 473 $ 14,940 $ 84 $ 2,862 $ 18,359 Provision (recapture) for acquired BBVAPR loans and lease losses accounted for under ASC 310-30 - 5,979 - - 5,979 Loan pools fully charged-off - (4,352) - - (4,352) Balance at end of period $ 473 $ 16,567 $ 84 $ 2,862 $ 19,986 Nine-Month Period Ended September 30, 2015 Mortgage Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-30: Balance at beginning of period $ - $ 13,476 $ 5 $ - $ 13,481 Provision (recapture) for acquired BBVAPR loans and lease losses accounted for under ASC 310-30 473 7,443 79 2,862 10,857 Loan pools fully charged-off - (4,352) - - (4,352) Balance at end of period $ 473 $ 16,567 $ 84 $ 2,862 $ 19,986 Quarter Ended September 30, 2014 Mortgage Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-30: Balance at beginning of period $ - $ 6,216 $ 62 $ - $ 6,278 Provision (recapture) for acquired BBVAPR loans and lease losses accounted for under ASC 310-30 - 3,899 (57) - 3,842 Balance at end of period $ - $ 10,115 $ 5 $ - $ 10,120 Nine-Month Period Ended September 30, 2014 Mortgage Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-30: Balance at beginning of period $ - $ 1,713 $ 418 $ 732 $ 2,863 Provision (recapture) for acquired BBVAPR loans and lease losses accounted for under ASC 310-30 - 8,402 (413) (732) 7,257 Balance at end of period $ - $ 10,115 $ 5 $ - $ 10,120 Allowance for Acquired Eurobank Loan Losse s The changes in the allowance for loan and lease losses on acquired Eurobank loans for the quarters and nine-month periods ended September 30 , 2015 and 2014 were as follows: Quarter Ended September 30, 2015 Loans Secured by 1-4 Family Residential Properties Commercial Consumer Leasing Total (In thousands) Allowance for loan and lease losses for acquired Eurobank loans: Balance at beginning of period $ 17,593 $ 53,470 $ 389 $ - $ 71,452 Provision for acquired Eurobank loans and lease losses, net 15,813 17,398 279 - 33,490 Loan pools fully charged-off (721) (13,588) (301) - (14,610) Balance at end of period $ 32,685 $ 57,280 $ 367 $ - $ 90,332 Nine-Month Period Ended September 30, 2015 Loans Secured by 1-4 Family Residential Properties Commercial Consumer Leasing Total (In thousands) Allowance for loan and lease losses for acquired Eurobank loans: Balance at beginning of period $ 15,522 $ 48,334 $ 389 $ - $ 64,245 Provision for acquired Eurobank loans and lease losses, net 17,779 $ 20,136 279 - 38,194 Loan pools fully charged-off (721) (13,588) (301) - (14,610) FDIC shared-loss portion of provision for loan and lease losses, net 105 2,398 - - 2,503 Balance at end of period $ 32,685 $ 57,280 $ 367 $ - $ 90,332 Quarter Ended September 30, 2014 Mortgage Commercial Consumer Leasing Total (In thousands) Allowance for loan and lease losses for acquired Eurobank loans: Balance at beginning of period $ 14,924 $ 43,976 $ 615 $ - $ 59,515 Provision for (recapture of) acquired Eurobank loans and lease losses, net (165) 1,461 (181) - 1,115 FDIC shared-loss portion of provision for loan and lease losses, net 493 1,149 (45) - 1,597 Balance at end of period $ 15,252 $ 46,586 $ 389 $ - $ 62,227 Nine-Month Period Ended September 30, 2014 Mortgage Commercial Consumer Leasing Total (In thousands) Allowance for loan and lease losses for Eurobank loans: Balance at beginning of period $ 12,495 $ 39,619 $ 615 $ - $ 52,729 Provision for Eurobank loans and lease losses, net 2,144 2,376 (181) - 4,339 FDIC shared-loss portion of provision for Eurobank loans and lease losses, net 613 4,591 (45) - 5,159 Balance at end of period $ 15,252 $ 46,586 $ 389 $ - $ 62,227 The FDIC shared-loss portion of provision for (recapture of) acquired Eurobank 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 . The FDIC loss sharing obliga tions, related to commercial and other-non single family acquired Eurobank loans expired on June 30, 2015. The coverage for the single family residential loans will expire on June 30, 2020 . The remaining co vered loans are included as part of acquired Eurobank loans under the name "loans secured by 1-4 family residential properties." At Septembe r 30, 2015, allowance for loan losses on loans covered by the FDIC shared-loss agreement amounted $ 32.7 million and the provision for loan losses for the quarter and nine-month period ended September 30, 2015 was $ 15.8 million and $ 18.1 million , respectively. |
FDIC Indemnification Asset and
FDIC Indemnification Asset and True-up Payment Obligation | 9 Months Ended |
Sep. 30, 2015 | |
Banking and Thrift [Abstract] | |
FDIC Indemnification Asset and True-up Payment Obligation [Text Block] | NOTE 6 - FDIC INDEMNIFICATION ASSET AND TRUE-UP PAYMENT OBLIGATION In connection with the FDIC assisted acquisition , the Bank and the FDIC entered into shared-loss agreements pursuant to which the FDIC covers a substantial portion of any losses on loans (and related unfunded loan commitments), foreclosed real estate and other repossessed properties covered by the agreements. 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. T he 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 FDIC 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 indemnification asset and true-up payment obligation for the quarters and nine-month periods ended September 30 , 2015 and 2014 : Quarter Ended September 30, Nine-Month Period Ended September 30, 2015 2014 2015 2014 (In thousands) FDIC indemnification asset: Balance at beginning of period $ 22,704 $ 143,660 $ 97,378 $ 189,240 Shared-loss agreements reimbursements from the FDIC - (12,837) (17,171) (31,537) Shared-loss agreements reimbursements expected from the FDIC - - (20,917) - Increase (decrease) in expected credit losses to be covered under shared-loss agreements, net - 1,597 2,503 5,159 FDIC indemnification asset expense (1,215) (16,059) (35,948) (51,180) Incurred expenses to be reimbursed under shared-loss agreements 1,406 4,258 (2,950) 8,937 Balance at end of period $ 22,895 $ 120,619 $ 22,895 $ 120,619 True-up payment obligation: Balance at beginning of period $ 23,577 $ 20,231 $ 21,981 $ 18,510 Change in true-up payment obligation 864 875 2,460 2,596 Balance at end of period $ 24,441 $ 21,106 $ 24,441 $ 21,106 The FDIC shared- loss expense bears an inverse relationship with a change in the yield of covered loan pools in accordance with ASC 310-30. ASC 310-30 dictates that such pools should be subject to increases in their yield when the present value of the expected cash flows is higher than the pool’s carrying balance. When the increases in cash flow expectatio ns are driven by reductions in the expected credit losses, the Bank recognizes that such losses are no longer expected to be collected from the FDIC. Accordingly, the Bank reduces the FDIC indemnification asset by amortizing the reduction in expected colle ctions throughout the remaining life of the underlying pools. This amortization is recognized in the FDIC shared-loss expense. The underlying factors that caused an increase in the expected cash flows and resulting reduction in projected losses are deriv ed from the pool-level cash flow forecasts. Credit loss assumptions used to develop each pool-level cash flow forecast are based on the behavior of defaults, recoveries and losses of the corresponding pool of covered loans. The FDIC loss share coverage for the commercial loans and other non-single family loans was in effect until June 30, 2015. The coverage for the single family residential loans will expire on June 30, 2020. Accordingly, the Company amortized the remaining portion of the FDIC indemnific ation asset attributable to non-single family loans at the close of the second quarter of 2015. At September 30, 2015, the Company had a $ 25 million receivable from the FDIC, included in other assets in the unaudited statements of financial condition, corr esponding to the loss-share certifications for commercial and other non-single family loans for the second quarter of 2015 . At September 30, 2015, the FDIC indemnification asset reflects only the balance for single family residential mortgage loans. Notwithstanding t he expiration of loss share coverage of non-single family loans, on July 2, 2015, the Company entered into an agreement with the FDIC pursuant to which the FDIC concurred with a potential sale of a pool of loss share assets covered under the non-single fam ily loss share agreement. Pursuant to such agreement, the FDIC agreed to pay up to $20 million in loss share coverage with respect to the aggregate loss resulting from any portfolio sale within 120 days of the agreement. This sale was completed on Septembe r 28, 2015 and a $20 million receivable from the FDIC was included in other assets in the unaudited statements of financial condition related to this reimbursement. The FDIC indemnification asset expense of $ 1.2 million and $35.9 million for the quarter and nine-month period ended September 30, 2015, respectively, decreased when compared to $ 16.1 million and $51.2 million for the same periods in 2014 . The decrease during the quarter and nine-month period was principally driven by the expiration of the FD IC loss share coverage for commercial loans and other non-single family loans. During the nine-month periods ended September 30, 2015 and 2014, the amortization expense totaled $ 2.3 million and $ 594 thousand , respectively, primarily as a result of stepped up cost recoveries o n certain construction, commercial, and leasing pools. Also in connection with the FDIC assisted acquisition, the Bank agreed to make a true-up payment, also known as a clawback liability or clawback provision, to the FDIC on the date that is 45 days foll owing 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 share d-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 premium (discount) of ($227. 5 million) (or ($56.9 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 t he 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 $ 24.4 million and $ 2 2.0 mi llion , net of discount, as of September 30 , 2015 and December 31 , 2014 , respectively. The estimated liability is included within accrued expenses and other liabilities in the unaudited consolidated statements of financial condition. The true-up payment obligation, also known as clawback liability, may increase if actual and expected losses decline. The Company measures the true-up payment obligation at fair value. During the quarters and nine-month period s ended September 30 , 2015 and 2014 the fair value of the true-up payment obligation increased by $864 thousand and $2.5 million and $875 thousand and $2.6 million, respectively . These changes in fair value are included as change in true-up payment obligation within FDIC shared-loss expense, net, in the unaudited consolidated statements of operations. The following table provides the fair value and the undiscounted amount of the true-up payment obligation at September 30 , 2015 and December 31 , 2014 : September 30, December 31, 2015 2014 (In thousands) Carrying amount (fair value) $ 24,441 $ 21,981 Undiscounted amount $ 33,385 $ 40,266 |
Servicing Assets
Servicing Assets | 9 Months Ended |
Sep. 30, 2015 | |
TransfersAndServicingAbstract | |
TransfersAndServicingOfFinancialAssetsTextBlock | NOTE 7 - SERVICING ASSETS The Company periodically sells or securitizes mortgage loans while retaining the obligation to perform the servicing of such loans. In addition, the Company may purchase or assume the right to service mortgage loans originated by others. Whenever the Company undertakes an obligation to service a loan, management assesses whether a servicing asset and/or liability should be recognized. A servicing asset is rec ognized whenever the compensation for servicing is expected to more than adequately compensate the Company for servicing the loans and leases. Likewise, a servicing liability would be recognized in the event that servicing fees to be received are not expec ted to adequately compensate the Company for its expected cost. All separately recognized servicing assets are recognized at fair value using the fair value measurement method. Under the fair value measurement method, the Company measures servicing rights at fair value at each reporting date, reports changes in fair value of servicing assets in earnings in the period in which the changes occur, and includes these changes, if any, with mortgage banking activities in the consolidated statements of operations . The fair value of servicing rights is subject to fluctuations as a result of changes in estimated and actual prepayment speeds and default rates and losses. The fair value of servicing rights 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 condit ions. At September 30 , 2015 , the servicing asset amounted to $6.5 million ($14 .0 million — December 31 , 2014 ) related to mortgage servicing rights. During the second quarter of 2015, the Company completed the sale of certain servicing assets for approximately $7.0 million. The Company recognized a loss of $ 2.7 million related to this transaction, which is included as other non-interest (loss) income in the unaudited consolidated statements of operations . The following table presents the changes in servicing rights measured using the fair value method for the quarters and nine-month periods ended September 30 , 2015 and 2014 : Quarter Ended September 30, Nine-Month Period Ended September 30, 2015 2014 2015 2014 (In thousands) (In thousands) Fair value at beginning of year $ 5,791 $ 13,970 $ 13,992 $ 13,801 Sale of mortgage servicing rights - - (6,985) - Servicing from mortgage securitizations or asset transfers 748 554 2,808 1,608 Changes due to payments on loans (242) (427) (974) (799) Changes in fair value related to price of MSR's held for sale - - (2,716) - Changes in fair value due to changes in valuation model inputs or assumptions 166 (111) 338 (624) Fair value at end of year $ 6,463 $ 13,986 $ 6,463 $ 13,986 The following table presents key economic assumption ranges used in measuring the mortgage- related servicing asset fair value for nine-month periods ended September 30 , 2015 and 2014 : Nine-Month Period Ended September 30, 2015 2014 Constant prepayment rate 5.49% - 10.58% 5.60% - 10.08% Discount rate 10.00% - 12.00% 10.00% - 12.00% The sensitivity of the current fair value of servicing assets to immediate 10 percent and 20 percent adverse changes in the above key assumptions were as follow s : September 30, 2015 (In thousands) Mortgage-related servicing asset Carrying value of mortgage servicing asset $ 6,463 Constant prepayment rate Decrease in fair value due to 10% adverse change $ (183) Decrease in fair value due to 20% adverse change $ (356) Discount rate Decrease in fair value due to 10% adverse change $ (256) Decrease in fair value due to 20% adverse change $ (493) These sensitivities are hypothetical and should be used with caution. As the figures indicate, changes in fair value based on a 10 percent variation in assumptions generally cannot be extrapolated because the relationship of the change in assumption to the change in fair value may not be linear. Also, in this table, the effect of a variation in a particular assumption on the fair value of the retained interest is calculated without changing any other assumption. C hanges in one factor may result in chang es 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 stat ements 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 prepay ment speed assumptions) and other changes, including changes due to collection/realization of expected cash flows. Servicing fee income is based on a contractual percentage of the outstanding principal balance and is recorded as income when earned. Servic ing fees on mortgage loans for the quarter and nine-month period ended September 30 , 2015 totaled $ 374 thousand and $ 705 thousand, respectively. Servicing fees on mortgage loans for the quarter and nine-month period ended September 30 , 2014 totaled $ 190 thousand and $ 341 thousand, respectively |
Derivative Activities
Derivative Activities | 9 Months Ended |
Sep. 30, 2015 | |
Derivative Activities [Abstract] | |
Derivative Acitivities | NOTE 8 — DERIVATIVE S The following table presents the Company’s derivative assets and liabilities at September 30 , 2015 and December 31 , 2014 : September 30, December 31, 2015 2014 (In thousands) Derivative assets: Options tied to S&P 500 Index $ 1,115 $ 5,555 Interest rate swaps not designated as hedges 2,139 2,399 Interest rate caps 36 152 Other - 1 $ 3,290 $ 8,107 Derivative liabilities: Interest rate swaps designated as cash flow hedges 6,395 8,585 Interest rate swaps not designated as hedges 2,139 2,399 Interest rate caps 36 152 Other 52 85 $ 8,622 $ 11,221 Interest Rate Swaps The Company enters into interest rate swap contract s to hedge the variability of future interest cash flows of forecasted wholesale borrowings attributable to changes in a predetermined variable index rate. T he interest rate swap s 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, are properly documented as such, and therefore, qualify for cash flow hedge accounting. Any gain or loss associated w ith the effective portion of the cash flow hedges is recognized in other comprehensive income (loss) and is subsequently reclassified into operations in the period during which the hedged forecasted transactions affect earnings. Changes in the fair value of these derivatives are recorded in accu mulated 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 (loss) related to these interes t rate swaps to operations in the next twelve months. The following table shows a summary of these swaps and their terms at September 30 , 2015 : Notional Fixed Variable Trade Settlement Maturity Type Amount Rate Rate Index Date Date Date (In thousands) Interest Rate Swaps $ 25,000 2.4400% 1-Month LIBOR 05/05/11 05/04/12 05/04/16 25,000 2.6200% 1-Month LIBOR 05/05/11 07/24/12 07/24/16 25,000 2.6400% 1-Month LIBOR 05/05/11 07/30/12 07/30/16 50,000 2.6600% 1-Month LIBOR 05/05/11 08/10/12 08/10/16 100,000 2.6800% 1-Month LIBOR 05/05/11 08/16/12 08/16/16 38,322 2.4200% 1-Month LIBOR 07/03/13 07/03/13 08/01/23 $ 263,322 An accumulated unrealized loss of $ 6.4 million and $ 8.6 million was recognized in accumulated other comprehensive income (loss) related to the valuation of these swaps at September 30 , 2015 and December 31 , 2014 , respectively , and the related l iability is being reflected in the accompanying unaudited consolidated statements of financial condition. For September 30 , 2015 and December 31 , 2014 , interest rate swaps not designated as hedging instruments that were offered to clients represented an asset of $2.1 million and $2.4 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 September 30 , 2015 and December 31 , 2014 , interest rate swaps not designated as hedging instruments that are the mirror-images of the derivatives offered to clients represented a liability of $ 2.1 million and $2.4 million, respectively , and were included as part of derivative liabilities in the unaudited consolidated statements of financial conditio n. T he following table shows a summary of these interest rate swaps not designated as hedging instruments and their terms at September 30 , 2015 : Notional Fixed Variable Settlement Maturity Type Amount Rate Rate Index Date Date (In thousands) Interest Rate Swaps - Derivatives Offered to Clients $ 3,819 5.1300% 1-Month LIBOR 07/03/06 07/03/16 12,500 5.5100% 1-Month LIBOR 04/11/09 04/11/19 $ 16,319 Interest Rate Swaps - Mirror Image Derivatives $ 3,819 5.1300% 1-Month LIBOR 07/03/06 07/03/16 12,500 5.5100% 1-Month LIBOR 04/11/09 04/11/19 $ 16,319 Options T ied 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 pre m ium. The changes in fair value of the option agreements used to manag e the exposure in the stock market in the certificates of deposit are recorded in earnings. At September 30 , 2015 and December 31 , 2014 , the purchased options used to manage exposure to the S&P 500 Index on stock indexed deposits represented an asset of $ 1 .1 million (notional amount of $ 3.4 million) and $5.6 million (notional amount of $ 10.7 million), respectively, and the options sold to customers embedded in the certificates of deposit and recorded as deposits in the unaudited consolidated statements of f inancial condition, represented a liability of $ 1 .0 million (notional amount of $ 3.2 million) and $ 5.5 million (notional amount of $ 10.5 million), respectively. Interest Rate C aps 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, and therefore, they are marked to market through earnings. For both September 30 , 2015 and December 31 , 2014 , t he outstanding total notional amount of interest rate caps was $ 1 09.9 million. At September 30 , 2015 and December 31 , 2014 , the interest rate caps sold to clients represented a liability of $36 thousand and $152 thousand, respectively, and were included as pa rt of derivative liabilities in the unaudited consolidated statements of financial condition. At September 30 , 2015 and December 31 , 2014 , the interest rate caps purchased as mirror-images represented an asset of $36 thousand and $152 thousand, respectivel y, and were included as part of derivative assets in the unaudited consolidated statements of financial condition. |
Accrued Interest Receivable and
Accrued Interest Receivable and Other Assets | 9 Months Ended |
Sep. 30, 2015 | |
Accrued Interest Receivable And Other Assets [Abstract] | |
Other Assets Disclosure [Text Block] | NOTE 9 — ACCRUED INTEREST RECEIVABLE AND OTHER ASSET S Accrued interest receivable at September 30 , 2015 and December 31 , 2014 consists of the following: September 30, December 31, 2015 2014 (In thousands) Loans, excluding loans accounted for under ASC 310-30 $ 13,953 $ 17,005 Investments 4,672 4,340 $ 18,625 $ 21,345 Other assets at September 30 , 2015 and December 31 , 2014 consist of the following : September 30, December 31, 2015 2014 (In thousands) FDIC receivable $ 44,849 $ 14,974 Prepaid expenses 14,151 16,018 Receivable from sale of non-performing loans and foreclosed real estate 12,989 - Other repossessed assets 8,948 21,800 Core deposit and customer relationship intangibles 8,314 9,743 Mortgage tax credits 6,277 6,277 Investment in Statutory Trust 1,083 1,083 Accounts receivable and other assets 44,433 38,830 $ 141,044 $ 108,725 At September 30, 2015, the FDIC receivable included a $24.9 million receivable corresponding to the FDIC loss-share certification from the second quarter of 2015 for non-single family residential loans, as the loss share period on these loans was in effect until June 30, 2015. In addition, the FDIC receivable included $20.0 million corresponding to FDIC shared-loss portion of losses in the sale of certain covered non-performing commercial loan s during the quarter ended September 30, 2015 as part o f an agreement made with the FDIC in July 2015. At December 31, 2014, the FDIC receivable included a $15.0 million receivable corresponding to the FDIC loss-share certification from the third quarter of 2014 that was received in January 2015 . A t September 30 , 2015, the Company had a $13.0 million receivable related to th e bulk sale of non-performing covered and non-covered commercial loans and foreclosed real estate during the quarter ended September 30, 2015. Prepaid expenses amounting to $14.2 million and $16.0 million at September 30 , 2015 and December 31 , 2014 , respectively, include prepaid municipal, property and income taxes aggregating to $ 9. 3 million and $ 9.6 million , respectively . In connection with the FDIC-assisted acquisi tion and the BBVAPR Acquisition, the Company recorded a core deposit intangible representing the value of checking and savings deposits acquired. At September 30 , 2015 and December 31 , 2014 , this core deposit intangible amounted to $ 5.6 million and $ 6.5 million, respec tively . In ad dition, the Company recorded a customer relationship intangible amounting to $ 5.0 million representing the value of customer relationships acquired with the acquisition of the securities broker-dealer and insurance agency in the BBVAPR Acquisi tion as of December 31, 2012. At September 30 , 2015 and December 31 , 2014 , this customer relationship intangible amounted to $ 2.7 million and $ 3 .3 million, respectively. Other repossessed assets totaled $8.9 million and $21.8 million at September 30 , 2015 and December 31 , 2014 , respectively, include repossessed automobiles amounting to $ 8.3 million and $ 20.7 million , respectively, which are recorded at their net realizable value. At both September 30 , 2015 and December 31 , 2014 , tax credits for the Company totaled $6.3 million. These tax credits do not have an expiration date . |
Deposits and Related Interest
Deposits and Related Interest | 9 Months Ended |
Sep. 30, 2015 | |
Deposits and Related Interest [Abstract] | |
Deposit and Related Interest | NOTE 10 — DEPOSITS AND RELATED INTEREST Total deposits, including related accrued interest payable, as of September 30 , 2015 and December 31 , 2014 consist of the following: September 30, December 31, 2015 2014 (In thousands) Non-interest bearing demand deposits $ 792,110 $ 745,570 Interest-bearing savings and demand deposits 2,330,018 2,544,664 Individual retirement accounts 272,276 302,622 Retail certificates of deposit 456,320 452,150 Institutional certificates of deposit 213,224 260,090 Total core deposits 4,063,948 4,305,096 Brokered deposits 653,126 619,310 Total deposits $ 4,717,074 $ 4,924,406 Brokered deposits include $ 577. 6 million in certificates of deposits and $ 75.5 million in money market accounts at September 30 , 2015 , and $ 526.2 million in certificates of deposits and $ 93.1 million in money market accounts at December 31 , 2014 . T he weighted average interest rate of the Company ’s deposits was 0.56 % at September 30 , 2015 and 0.66 % at December 31 , 2014 . Interest expense for the quarters and nine-month periods ended September 30 , 2015 and 2014 was as follows : Quarter Ended September 30, Nine-Month Period Ended September 30, 2015 2014 2015 2014 (In thousands) (In thousands) Demand and savings deposits $ 2,987 $ 4,003 $ 9,469 $ 13,834 Certificates of deposit 3,664 3,658 10,890 11,970 $ 6,651 $ 7,661 $ 20,359 $ 25,804 At September 30 , 2015 and December 31 , 2014 , demand and interest-bearing deposits and certificates of deposit included deposits of Puerto Rico Cash & Money Market Fund, Inc., which amounted to $ 102. 8 million and $ 96.8 million, respectively, with a weighted average rate of 0. 7 7 % and 0.78 %, and were collateralized with investment securities with a fair value of $ 8 3 . 2 million and $ 76.3 million, respectively. At September 30 , 2015 and December 31 , 2014 , time deposits in denominations of $100 thousand or higher, excluding accrued interest and unamortized discounts, amounted to $ 5 74.4 million and $ 608.1 million , respectively. Such amounts include public fund time deposits from various Puerto Rico government municipalities, agencies, and corporations of $ 9.8 million at a weighted average rate of 0.52 % at September 30 , 2015 , and $ 6.9 million at a weighted average rate of 0.50 % at December 31 , 2014 . At September 30 , 2015 and December 31 , 2014 , total public fund deposits from various Puerto Rico government municipalities, agencies, and corporations amounted to $ 175.0 million and $ 3 18 .5 million, respectively. These public funds were collateralized with commercial loans amounting to $ 411.4 million and $ 414.5 million at September 30 , 2015 and December 31 , 2014 , respectively Excluding equity indexed options in the amount of $ 1. 0 million, which are used by the Company to manage its exposure to the S&P 500 Index, and also excluding accrued interest of $ 1.1 million and unamortized deposit discount in the amount of $ 381 thousand , the scheduled maturities of certificates of deposit at September 30 , 2015 are as follows: September 30, 2015 (In thousands) Within one year: Three (3) months or less $ 207,581 Over 3 months through 1 year 738,878 946,459 Over 1 through 2 years 396,619 Over 2 through 3 years 113,719 Over 3 through 4 years 13,027 Over 4 through 5 years 47,020 $ 1,516,844 The table of scheduled maturities of certificates of deposits above includes brokered deposits. The aggregate amount of overdrafts in demand deposit accounts that were reclassified to loans amounted to $ 682 thousand and $ 845 thousand as of September 30 , 2015 and December 31 , 2014 , respectively. |
Borrowings
Borrowings | 9 Months Ended |
Sep. 30, 2015 | |
Debt Disclosure [Abstract] | |
Borrowings | NOTE 1 1 — BORROWINGS AND RELATED INTEREST Securities Sold under Agreements to Repurchase At September 30 , 2015 , 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 the se agreements. At September 30 , 2015 and December 31 , 2014 , securities sold under agreements to repurchase (classified by counterparty), excluding accrued interest in the amount of $ 2.1 million and $ 2.3 million, respectively , were as follows: September 30, December 31, 2015 2014 Fair Value of Fair Value of Borrowing Underlying Borrowing Underlying Balance Collateral Balance Collateral (In thousands) JP Morgan Chase Bank NA 328,532 354,353 307,816 328,198 Credit Suisse Securities (USA) LLC 670,000 745,025 670,000 760,327 Total $ 998,532 $ 1,099,378 $ 977,816 $ 1,088,525 The following table shows a summary of the Company’s repurchase agreements and their terms, excluding accrued interest in the amount of $ 2 . 1 million , at September 30 , 2015 : Weighted- Borrowing Average Maturity Year of Maturity Balance Coupon Settlement Date Date (In thousands) 2015 $ 57,400 0.500% 8/20/2015 10/1/2015 31,132 0.470% 9/22/2015 10/22/2015 2016 170,000 1.500% 12/6/2012 12/8/2016 240,000 0.950% 12/10/2012 9/30/2016 2017 500,000 4.780% 3/2/2007 3/2/2017 $ 998,532 2.921% The following table presents the repurchase liability associated with the repurchase agreement transactions (excluding accrued interest) by maturity. Also, it includes the carrying value and approximate market value of collateral (excluding accrued interest) at September 30 , 2015 and December 31 , 2014 . The information excludes repurchase agreement transactions which were collateralized with cash. September 30, 2015 Market Value of Underlying Collateral Weighted FNMA and Repurchase Average FHLMC GNMA Liability Rate Certificates Certificates Total (Dollars in thousands) Less than 90 days 88,532 0.49% 95,023 - 95,023 Over 90 days 910,000 3.16% 1,001,926 2,429 1,004,355 Total $ 998,532 2.92% $ 1,096,949 $ 2,429 $ 1,099,378 December 31, 2014 Market Value of Underlying Collateral Weighted FNMA and Repurchase Average FHLMC GNMA Liability Rate Certificates Certificates Total (Dollars in thousands) Less than 90 days $ 52,816 0.39% $ 56,066 $ - $ 56,066 Over 90 days 925,000 2.83% 1,031,206 1,253 1,032,459 Total $ 977,816 2.89% $ 1,087,272 $ 1,253 $ 1,088,525 Advances from the Federal Home Loan Bank of New York Advances are received from the Federal Home Loan Bank of New York (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 September 30 , 2015 and December 31 , 2014 , these advances were secured by mortgage and commercial loans amounting to $ 1.1 b illion and $ 1.2 billion, respectively . Also, at September 30 , 2015 and December 31 , 2014 , the Company had an additional borrowing capacity with the FHLB-NY of $ 6 00.4 million and $ 606.6 million , respectively. At September 30 , 2015 and December 31 , 2014 , the w eighted average remaining maturity of FHLB’s advances was 6.9 months and 8.8 months , respectively. The original terms of these advances range between one day and seven years, and the FHLB-NY does not have the right to exercise put options at par on any adv ances outstanding as of September 30 , 2015 . The following table shows a summary of these advances and their terms, excluding accrued interest in the amount of $ 343 thousand , at September 30 , 2015 : Weighted- Borrowing Average Maturity Year of Maturity Balance Coupon Settlement Date Date (In thousands) 2015 $ 25,000 0.47% 9/4/2015 10/5/2015 50,000 0.48% 9/10/2015 10/13/2015 100,000 0.53% 9/16/2015 10/16/2015 25,000 0.44% 9/24/2015 10/26/2015 25,000 0.40% 9/30/2015 10/30/2015 38,322 0.41% 9/1/2015 10/1/2015 263,322 2017 4,326 1.24% 4/3/2012 4/3/2017 2018 30,000 2.19% 1/16/2013 1/16/2018 25,000 2.18% 1/16/2013 1/16/2018 55,000 2020 9,945 2.59% 7/19/2013 7/20/2020 $ 332,593 0.83% 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 $102.4 million at September 30 , 2015 and $101.6 million at December 31 , 2014 . 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 - September 30, 2015 $ 60,300 2015 1,675 2016 5,025 $ 67,000 Other borrowings Other borrowings, presented in the unaudited consolidated statement s of financial condition amounted to $ 1.7 million and $4.0 million at September 30 , 2015 and December 31 , 2014 , respectively, which mainly consists of unsecured fixed- rate borrowings . |
Offset of Assets_Liabilities
Offset of Assets/Liabilities | 9 Months Ended |
Sep. 30, 2015 | |
Offsetting [Abstract] | |
Balance sheet Offsetting [Text Block] | NOTE 1 2 – OFFSETTING OF FINANCIAL ASSETS AND LIABILITIES The Company’s derivatives are subject to agreements which allow a right of set- off with each respective c ounterparty. 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 a greements. 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 cas h and securities, may from time to time be segregated in an account at a third-party cus todian pursuant to a an account control a greement. The following table presents the potential effect of rights of set - off associated with the Company’s recognized financial as sets and liabilities at September 30 , 2015 and December 31 , 2014 : September 30, 2015 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 $ 3,290 $ - $ 3,290 $ 2,016 $ - $ 1,274 December 31, 2014 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 $ 8,107 $ - $ 8,107 $ 2,006 $ - $ 6,101 September 30, 2015 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 $ 9,663 $ - $ 9,663 $ - $ 2,980 $ 6,683 Securities sold under agreements to repurchase 998,532 - 998,532 1,099,378 - (100,846) Total $ 1,008,195 $ - $ 1,008,195 $ 1,099,378 $ 2,980 $ (94,163) December 31, 2014 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 $ 16,698 $ - $ 16,698 $ - $ 2,980 $ 13,718 Securities sold under agreements to repurchase 977,816 - 977,816 1,088,525 - (110,709) Total $ 994,514 $ - $ 994,514 $ 1,088,525 $ 2,980 $ (96,991) |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Sep. 30, 2015 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | NOTE 1 3 — 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 . The activity and balance of these loans for the quarters and the nine -month periods ended September 30 , 2015 and 2014 was as follows: Quarter Ended September 30, Nine-Month Period Ended September 30, 2015 2014 2015 2014 (In thousands) (In thousands) Balance at the beginning of period $ 33,318 $ 24,151 $ 27,011 $ 18,963 New loans and disbursements 5,866 319 13,489 14,166 Repayments (7,450) 1,174 (8,766) (7,485) Balance at the end of period $ 31,734 $ 25,644 $ 31,734 $ 25,644 |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2015 | |
Income Taxes [Abstract] | |
Income Taxes | NOTE 14 — INCOME TAXES On May 29, 2015 the Governor signed Act No. 72 of 2015. The main purpose of this 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, for taxable years beginning after December 31, 2014, are as follows: (1) establishes a new definition of “large taxpayers,” which require them to file its tax return following a special procedure established by the Secretary of the Treasury, ( 2) net operating losses carried forward may be deducted up to 70% of the alternative minimum net income for purposes of computing the alternative minimum tax, and (3) net operating losses carried forward may be deducted up to 80% of the net income for purp oses of computing the regular corporate income tax . At September 30 , 2015 and December 31 , 2014 , the Company’s net deferred tax asset amounted to $14 3.9 million and $ 108.7 million, respectively. In assessing the realizability of the deferred tax asset, ma nagement 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 i n 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 tax able 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 deferred tax asset, net of the existing valuation allowa nces recorded at September 30 , 2015 and December 31 , 2014 . The amount of the deferred tax asset that is considered realizable could be reduced in the near term if estimates of future taxable income during the carry forward period are reduced. At September 30 , 2015 and December 31 , 2014 , Oriental International Bank Inc. (“OIB”), the Bank’s international banking entity subsidiary, had $ 153 thousand and $ 186 thousand, respectively, in income tax effect of unrecognized gain on available-for-sale securities inc luded 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 peri ods. For both quarters ended September 30 , 2015 and 2014 , $ 11 thousand, respectively, related to this residual tax effect from OIB was reclassified from accumulated other comprehensive income (loss) into income tax provision . During the period ended September 30 , 2015 and 2014 , $ 33 thousand and $ 158 thousand, respectively, related to this residual tax effect from OIB was reclassified from accumulated other comprehensive income (loss) 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 September 30 , 2015 and December 31 , 2014 was $ 2.1 million and $ 2.6 million, respectively. The Company had accrued $ 122 tho usand at September 30 , 2015 and $ 47 0 thousand at December 31 , 2014 for the payment of interest and penalties relating to unrecognized tax benefits. During this quarter $ 200 thousand wa s released based on negotiations with the IRS. F or the quarter ended September 30 , 2015 , i ncome tax expense was $56 2 thousand compared to $8.0 million for the same period in 2014. F or the nine-month period ended September 30 , 2015 , i ncome tax expense was $ 2.3 million compared to $ 30.4 million for the same period in 2014 . |
Regulatory Capital Requirements
Regulatory Capital Requirements | 9 Months Ended |
Sep. 30, 2015 | |
Regulatory Capital Requirements Abstract | |
Regulatory Capital Requirements Under Banking Regulations Text Block | NOTE 1 5 — REGULATORY CAPITAL REQUIREMENT S 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 financial statements. Under capital adequacy guidelines and the regulatory framework for prompt correcti ve 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 class ification 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, 2015 fo r the Company and the Bank (subject to certain phase-in periods through January 1, 2019) and that replaced their general risk-based capital rules, advanced approaches rule, market risk rule, and leverage rules. Among other matters, the new capital r ules: ( i ) introduce a new capital measure called “Common Equity Tier 1” (“CET1”) and related regulatory capital ratio of CET1 to risk-weighted assets; (ii) specify that Tier 1 capital consists of CET1 and “Additional Tier 1 capital” instruments meeting certain re vised requirements; (iii) mandate that most deductions/adjustments to regulatory capital measures be made to CET1 and not to the other components of capital; and (iv) expand the scope of the deductions from and adjustments to capital as compared to prior r egulations. The new capital r ules prescribe a new standardized approach for risk weightings that expand the risk-weighting categories from the current four Basel I-derived categories (0%, 20%, 50% and 100%) to a larger and more risk-sensitive number of cat egories, depending on the nature of the assets, and resulting in higher risk weights for a variety of asset classes. Pursuant to the n ew c apital r ules, the minimum capital ratios requirements as of January 1, 2015 are as follows: 4.5% CET1 to risk-weighted assets; 6.0% Tier 1 capital (that is, CET1 plus Additional Tier 1 capital) to risk-weighted assets; 8.0% Total capital (that is, Tier 1 capital plus Tier 2 capital) to risk-weighted assets; and 4 .0 % Tie r 1 capital to average consolidated assets as reported on consolidated financial statements (known as the “leverage ratio”). As of September 30 , 2015 and December 31 , 2014 , the Company and the Bank met all capital adequacy requirements to which they are subject. As of September 30 , 2015 and December 31 , 2014 , the Bank is “well capitalized” under the regulatory framework for prompt corrective action. To be categorized as “we ll capitalized,” an institution must maintain minimum CET1 risk-based, Tier 1 risk-based , total risk-based, and T ier 1 leverage ratios as set forth in the tables presented below. The Company ’s and the Bank’s actual capital a mounts and ratios as of September 30 , 2015 and December 31 , 2014 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 September 30, 2015 Total capital to risk-weighted assets $ 847,167 16.96% $ 399,615 8.00% $ 499,519 10.00% Tier 1 capital to risk-weighted assets $ 782,560 15.67% $ 299,711 6.00% $ 399,615 8.00% Common equity tier 1 capital to risk-weighted assets $ 601,788 12.05% $ 224,783 4.50% $ 324,687 6.50% Tier 1 capital to average total assets $ 782,560 10.93% $ 286,493 4.00% $ 358,117 5.00% As of December 31, 2014 Total capital to risk-weighted assets $ 851,437 17.57% $ 387,772 8.00% $ 484,715 10.00% Tier 1 capital to risk-weighted assets $ 776,525 16.02% $ 193,886 4.00% $ 290,829 6.00% Tier 1 capital to average total assets $ 776,525 10.61% $ 292,738 4.00% $ 365,922 5.00% Minimum Capital Minimum to be Well Actual Requirement Capitalized Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Bank Ratios As of September 30, 2015 Total capital to risk-weighted assets $ 811,297 16.28% $ 398,677 8.00% $ 498,346 10.00% Tier 1 capital to risk-weighted assets $ 746,921 14.99% $ 299,008 6.00% $ 398,677 8.00% Common equity tier 1 capital to risk-weighted assets $ 746,921 14.99% $ 224,256 4.50% $ 323,925 6.50% Tier 1 capital to average total assets $ 746,921 10.50% $ 284,481 4.00% $ 355,601 5.00% As of December 31, 2014 Total capital to risk-weighted assets $ 820,884 16.99% $ 386,444 8.00% $ 483,055 10.00% Tier 1 capital to risk-weighted assets $ 746,177 15.45% $ 193,222 4.00% $ 289,833 6.00% Tier 1 capital to average total assets $ 746,177 10.26% $ 290,879 4.00% $ 363,599 5.00% |
Stockholders' Equity
Stockholders' Equity | 9 Months Ended |
Sep. 30, 2015 | |
Stockholders' Equity [Abstract] | |
Stockholders' equity | NOTE 1 6 – STOCKHOLDERS’ EQUITY Additional Paid- in Capital Additional paid-in capital represents contributed capital in excess of par value of common and preferred stock net of the costs of issuance. As of September 30 , 2015 and December 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. Legal Surplus The Puerto Rico Banking Act requires that a minimum of 10% of the Bank’s net income or loss for the year be transferred to a reserve fund until such fund (legal surplus) equals the total paid in capital on common and preferred stock. At September 30 , 2015 and December 31 , 2014 , the Bank’s legal surplus amounted to $70.4 million and $70.5 million, respectively. The amount transferred to the legal surplus account is not available for the payment of divi dends to shareholders. 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 $ 7.7 million of authority remains. The shares of common stock repurchased are to be held by the Company as treasury shares. During the nine-month period ended September 30 , 2015 the Company purchased 803 , 985 shares under this program for a total of $ 8.9 million , at an average price of $ 11.10 per share. During the nine-month period ended September 30, 2014 the Company purchased 707,500 shares at an average price of $ 14.66 per share. The number of shares that may yet be purchased under the $70 million program is estimated at 885,550 and was calculated by dividing the remaining balance of $ 7.7 million by $ 8.73 (closing price of the Company common stock at September 30 , 2015 ). The Company did not purchase any shares of its common stock during the nine-month periods ended September 30 , 2015 or 2014 , other than through its publicly announced stock repurchase program. The activity in connection with common shares held in treasury by the Company for the nine-month periods ended September 30 , 2015 and 2014 is set forth below : Nine-Month Period Ended September 30, 2015 2014 Dollar Dollar Shares Amount Shares Amount (In thousands, except shares data) Beginning of period 8,012,254 $ 97,070 7,030,101 $ 80,642 Common shares used upon lapse of restricted stock units (58,279) (641) (36,294) (384) Common shares repurchased as part of the stock repurchase program 803,985 8,950 707,500 10,394 End of period 8,757,960 $ 105,379 7,701,307 $ 90,652 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block Abstract | |
Comprehensive Income Note Text Block | NOTE 1 7 - ACCUMULATED OTHER COMPREHENSIVE INCOME Accumulated other comprehensive income, net of income tax, as of September 30 , 2015 and December 31 , 2014 consisted of: September 30, December 31, 2015 2014 (In thousands) Unrealized gain on securities available-for-sale which are not other-than-temporarily impaired $ 25,173 $ 28,743 Unrealized loss on securities available-for-sale which are other-than-temporarily impaired (338) - Income tax effect of unrealized gain on securities available-for-sale (2,349) (2,978) Net unrealized gain on securities available-for-sale which are not other-than-temporarily impaired 22,486 25,765 Unrealized loss on cash flow hedges (6,395) (8,585) Income tax effect of unrealized loss on cash flow hedges 2,065 2,531 Net unrealized loss on cash flow hedges (4,330) (6,054) Accumulated other comprehensive income, net of taxes $ 18,156 $ 19,711 The following table presents changes in accumulated other comprehensive income by component, net of taxes, for the quarters and nine-month periods ended September 30 , 2015 and 2014 Quarter Ended September 30, 2015 2014 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) Beginning balance $ 18,832 $ (4,531) $ 14,301 $ 29,759 $ (8,004) $ 21,755 Other comprehensive income (loss) before reclassifications 3,175 (1,346) 1,829 (9,452) (559) (10,011) Other-than-temporary impairment amount reclassified from accumulated other comprehensive income 584 - 584 - - - Amounts reclassified out of accumulated other comprehensive income (loss) (105) 1,547 1,442 11 1,656 1,667 Other comprehensive income 3,654 201 3,855 (9,441) 1,097 (8,344) Ending balance $ 22,486 $ (4,330) $ 18,156 $ 20,318 $ (6,907) $ 13,411 Nine-Month Period Ended September 30, 2015 2014 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) Beginning balance $ 25,765 $ (6,054) $ 19,711 $ 11,433 $ (8,242) $ 3,191 Other comprehensive income before reclassifications (4,037) (2,894) (6,931) 8,727 (3,584) 5,143 Other-than-temporary impairment amount reclassified from accumulated other comprehensive income 584 - 584 - - - Amounts reclassified out of accumulated other comprehensive income 174 4,618 4,792 158 4,919 5,077 Other comprehensive income (loss) (3,279) 1,724 (1,555) 8,885 1,335 10,220 Ending balance $ 22,486 $ (4,330) $ 18,156 20,318 $ (6,907) $ 13,411 The following table presents reclassifications out of accumulated other comprehensive income for the quarters and nine-month periods ended September 30 , 2015 and 2014 : Amount reclassified out of accumulated other comprehensive income Affected Line Item in Quarter Ended September 30, Consolidated Statement 2015 2014 of Operations (In thousands) Cash flow hedges: Interest-rate contracts $ 1,622 $ 1,656 Net interest expense Tax effect from increase in capital gains tax rate (75) - Income tax expense Available-for-sale securities: Other-than-temporary impairment losses on investment securities (246) - Net impairment losses recognized in earnings Residual tax effect from OIB's change in applicable tax rate 11 11 Income tax expense Tax effect from increase in capital gains tax rate 130 - Income tax expense $ 1,442 $ 1,667 Amount reclassified out of accumulated other comprehensive income Affected Line Item in Nine-Month Period Ended September 30, Consolidated Statement 2015 2014 of Operations (In thousands) Cash flow hedges: Interest-rate contracts $ 4,842 $ 4,919 Net interest expense Tax effect from increase in capital gains tax rate (224) - Income tax expense Available-for-sale securities: Other-than-temporary impairment losses on investment securities (246) - Net impairment losses recognized in earnings Residual tax effect from OIB's change in applicable tax rate 33 158 Income tax expense Tax effect from increase in capital gains tax rate 387 - Income tax expense $ 4,792 $ 5,077 |
Earnings Per Common Share
Earnings Per Common Share | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share Text Block | NOTE 1 8 – EARNINGS (LOSS) PER COMMON SHARE The calculation of (loss) earnings per common share for the quarters and nine-m onth p eriod s ended September 30 , 2015 and 2014 is as Quarter Ended September 30, Nine-Month Period Ended September 30, 2015 2014 2015 2014 (In thousands, except per share data) Net income (loss) $ 4,569 $ 19,532 $ (1,528) $ 64,588 Less: Dividends on preferred stock Non-convertible preferred stock (Series A, B, and D) (1,627) (1,627) (4,884) (4,882) Convertible preferred stock (Series C) (1,838) (1,838) (5,512) (5,514) Income (loss) available to common shareholders $ 1,104 $ 16,067 $ (11,924) $ 54,192 Effect of assumed conversion of the convertible ' ' preferred stock 1,838 1,838 5,512 5,514 Income (loss) available to common shareholders assuming conversion $ 2,942 $ 17,905 $ (6,412) $ 59,706 Weighted average common shares and share equivalents: Average common shares outstanding 43,929 45,055 44,353 45,131 Effect of dilutive securities: Average potential common shares-options 46 160 85 162 Average potential common shares-assuming ' ' conversion of convertible preferred stock 7,171 7,147 7,171 7,147 Total weighted average common shares ' ' outstanding and equivalents 51,146 52,362 51,609 52,440 Earnings (loss) per common share - basic $ 0.03 $ 0.36 $ (0.27) $ 1.20 Earnings (loss) per common share - diluted $ 0.03 $ 0.34 $ (0.27) $ 1.14 In computing diluted (loss) earnings per common share , the 84,000 shares of convertible preferred stock, which remain outstanding at September 30 , 2015 , with a conversion rate, subject to certain conditions, of 86.4225 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 September 30 , 2015 and 2014 on the convertible pr eferred stock were added back as income available to common shareholders. For the quarters ended September 30 , 2015 and 2014 , weighted-average stock options with an anti-dilutive effect on (loss) earnings per share not included in the calculation amou nted to 973,200 and 397,766 , respectively . For the nine-month periods ended September 30 , 2015 and 2014 , weighted-average stock options with an anti-dilutive effect on (loss) earnings per share not included in the calculation amounted to 648,563 and 325,994 , res pectively . |
Guarantees
Guarantees | 9 Months Ended |
Sep. 30, 2015 | |
Guarantees [Abstract] | |
Guarantees [Text Block] | NOTE 19 – GUARANTEES At September 30 , 2015 , the unamortized balance of the obligations undertaken in issuing the guarantees under standby letters of credit represented a liability of $ 15.0 million ( December 31 , 2014 - $33.0 million). As a result of the BBVAPR Acquisition, the Company assumed a liability for residential mortgage loans sold subject to credit recourse, pursuant to FNMA’s residential mortgage loan sales a nd securitization programs. At September 30 , 2015 and December 31 , 2014 , the unpaid prin cipal balance of residential mortgage loans sold subject to credit recourse was $ 25.0 million and $ 67.8 million, respectively . The following table shows the changes in the Company’s liability for estimated losses from these credit recourse agreements, inc luded in the unaudited consolidated statements of financial condi tion during the quarters and nine-month periods ended September 30 , 2015 and 2014 . Quarter Ended September 30, Nine-Month Period Ended September 30, 2015 2014 2015 2014 (In thousands) Balance at beginning of period $ 289 $ 1,310 $ 927 $ 1,955 Net (charge-offs/terminations) recoveries 140 (232) (498) (877) Balance at end of period $ 429 $ 1,078 $ 429 $ 1,078 The estimated losses to be absorbed under the credit recourse arrangements were recorded as a liability when the credit recourse was 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. T he reco urse obligation will be fully extinguished before the end of 201 7 . If a borrower defaults, 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 p otential amount of future payments that the Company would be required to make under the recourse arrangements is equivalent to the total outstanding balance of the residential mortgage loans serviced with recourse and interest, if applicable. During the qu arter and nine- month period ended September 30 , 2015 the Company repurchased approximately $ 165 thousand and $ 3.4 million, respectively, of unpaid principal balance in mortgage loans subject to the credit recourse provisions. During the quarter and nine -mo nth period ended September 30 , 2014 the Company repurchased approximately $ 1.9 million and $ 5. 6 million, respectively, of unpaid principal balance in mortgage loans subject to the credit recourse provisions. If a borrower defaults, the Company has rights t o the underlying collateral securing the mortgage loan. The Company suffers losses on these mortgage loans when the proceeds from a foreclosure sale of the collateral property are less than the outstanding principal balance of the loan, any uncollected int erest advanced, and the costs of holding and disposing the related property. At September 30 , 2015 , the Company’s liability for estimated credit losses related to loans sold with credit recourse amounted to $429 thousand ( December 31 , 2014 – $927 thousand). 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 pr ocedures 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. At September 30 , 2015 , the Company’s representation and warranty arrangements, excluding mortgage loans subject to credit recourse provisions referred to above, approximated $ 19.5 million in unpaid principal balance ( December 31 , 2014 – $10.7 million) . A substantial amount of these loans are reinstated to performing status or have mortgage insurance, and thus the ultimate losses on the loans are not deemed significant. During the quarter and nine- month period ended September 30 , 2015 , the Company recognized $ 418 thousand and $ 1.0 million in losses from the repurchase of residential mortgage loans sold subject to credit recourse, and $ 500 thousand and $ 2.0 million in losses from the repurchase of residential mortgage loans as a re sult of breaches of the customary representations and warranties. During the quarter and nine- month period ended September 30 , 2014 , the Company recognized $ 115 thousand and $ 261 thousand , respectively, in losses from the repurchase of residential mortgage loans sold subject to credit recourse, and $ 979 thousand and $ 1.9 thousand in losses from the repurchase of residential mortgage loans as a result of breaches of the customary representations and warranties. Servicing agreements relating to the mo rtgage-backed securities programs of FNMA and GNMA, and to mortgage loans sold or serviced to certain other investors, including the Federal Home Loan Mortgage Corporation (“FHLMC”), require the Company to advance funds to make scheduled payments of princi pal, interest, taxes and insurance, if such payments have not been received from the borrowers. At September 30 , 2015 , the Company serviced $ 62 5.3 million 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 c ost 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 can celed as part of the foreclosure proceedings and the Company would not receive any future servicing income with respect to that loan. At September 30 , 2015 , the outstanding balance of funds advanced by the Company under such mortgage loan servicing agreeme nts was approximately $ 305 thousand ( December 31 , 2014 - $ 391 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 t o 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 | 9 Months Ended |
Sep. 30, 2015 | |
Commitments and Contingencies [Abstract] | |
Commitments | NOTE 20 — COMMITMENTS AND CONTINGENCIES Loan Commitments I n 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 gua rantees. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess o f 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 f or commitments to extend credit, including commitments under credit card arrangements, and commercial letters of credit is represented by the contractual notional amount s of those instruments, which do not nec essarily 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 policie s in making commitments and conditional obligations as it does for on-balance-sheet instruments. C redit-related f inancial instruments at September 30 , 2015 and December 31 , 2014 were as follows: September 30, December 31, 2015 2014 (In thousands) Commitments to extend credit $ 432,006 $ 493,248 Commercial letters of credit 1,443 885 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 counterpar ty. A t September 30 , 2015 and December 31 , 2014 , 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 $ 667 thousand at September 30 , 2015 and $ 621 thousand at December 31 , 2014 . 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 consummat ed 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 g uarantor’s accounting and disclosure requirement s for guarantees, including indirect guarantees of indebtedness of others , at September 30 , 2015 and December 31 , 2014 , is as follows: September 30, December 31, 2015 2014 (In thousands) Standby letters of credit and financial guarantees $ 15,007 $ 32,970 Loans sold with recourse 24,996 67,803 Commitments to sell or securitize mortgage loans 61,597 10,207 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 evaluat ion 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 September 30 , 2015 and 2014 , amounted to $ 2.3 million and $ 2.4 million, respectively . F or the nine-month periods ended September 30 , 2015 and 2014 , rent expense amounted to $ 7.0 million and $ 7.3 million, respectively, and is included in the “occupancy and equipment” caption in the unaudited consolidated statements of operations . Fut ure rental commitments under leases in effect at September 30 , 2015 , exclusive of taxes, insurance, and maintenance expenses payable by the Company, are summarized as follows: Minimum Rent Year Ending December 31, (In thousands) 2015 $ 2,832 2016 7,697 2017 7,081 2018 6,066 2019 5,829 Thereafter 16,637 $ 46,142 |
Contingencies | C ontingencies 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 B ank (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 liabilit y 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
Fair Value | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value | NOTE 21 - FAIR VALUE OF FINANCIAL INSTRUMENTS T he 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 wh ich requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Money market investments The fair value of money market investments is based on the carrying amounts reflected in the unaudited 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. Such securities are classified as level 1 or level 2 depending on the basis for determining fair value. If listed pric es or quotes are not available, fair value is based upon externally developed mod els that use both observable and unobservable inputs depending on the market activity of the instrument, and such securities are classified as level 3. At September 30 , 2015 and December 31 , 2014 , the Company did not have investment securities classified a s Level 3. 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 mode ls that consider unobservable market parameters. Based on their valuation methodology, derivative instruments are classif ied 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-dealer s 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 manageme nt 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 p ayoff 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 Ind ex 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 valuati on inputs, the servicing rights are classified as Level 3. Impaired Loans. Impaired loans are carried at the present value of expected future cash flows using the loan’s existing rate in a discounted cash flow calculation, or the fair value of the collateral if the loan is collateral-dependent. Expected cash flows are based on internal inputs reflecting expected default rates on contractual cash flows. This method of estimating fair value d oes not incorporate the exit-price concept of fair value described in Accounting Standards Codification (“ASC”) 820-10 and would generally result in a higher value than the exit-price approach. For loans measured using the estimated fair value of collatera l less costs to sell, fair value is generally determined 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 w ith the provisions of ASC 310-10-35 less disposition costs . 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 com mercial 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 ex ternal appraisals . Other repossessed assets Other repossessed assets include repossessed automobile loans and leases . T he fair value of the repossessed automobiles may be determined using internal valuation and an external appraisal. These repossessed 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 , are summarized below: September 30, 2015 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ - $ 1,007,705 $ - $ 1,007,705 Money market investments 4,736 - - 4,736 Derivative assets - 2,175 1,115 3,290 Servicing assets - - 6,463 6,463 Derivative liabilities - (8,622) (1,041) (9,663) $ 4,736 $ 1,001,258 $ 6,537 $ 1,012,531 Non-recurring fair value measurements: Impaired commercial loans $ - $ - $ 233,598 $ 233,598 Foreclosed real estate - - 64,117 64,117 Other repossessed assets - - 8,948 8,948 $ - $ - $ 306,663 $ 306,663 December 31, 2014 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ - $ 1,216,538 $ - $ 1,216,538 Money market investments 4,675 - - 4,675 Derivative assets - 2,552 5,555 8,107 Servicing assets - - 13,992 13,992 Derivative liabilities - (11,221) (5,477) (16,698) $ 4,675 $ 1,207,869 $ 14,070 $ 1,226,614 Non-recurring fair value measurements: Impaired commercial loans $ - $ - $ 236,942 $ 236,942 Foreclosed real estate - - 95,661 95,661 Other repossessed assets - - 21,800 21,800 $ - $ - $ 354,403 $ 354,403 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 and nine -month periods ended September 30 , 2015 and 2014 : Quarter Ended September 30, 2015 Derivative Derivative asset liability (S&P (S&P Purchased Servicing Embedded Level 3 Instruments Only Options) assets Options) Total Balance at beginning of period $ 2,138 $ 5,791 $ (2,044) $ 5,885 (Losses) gains included in earnings (1,023) - 972 (51) New instruments acquired - 748 - 748 Changes due to payments on loans - (242) - (242) Amortization - - 31 31 Changes in fair value of servicing assets - 166 - 166 Balance at end of period $ 1,115 $ 6,463 $ (1,041) $ 6,537 Nine-Month Period Ended September 30, 2015 Derivative Derivative asset liability (S&P (S&P Purchased Servicing Embedded Level 3 Instruments Only Options) assets Options) Total Balance at beginning of period $ 5,555 $ 13,992 $ (5,477) $ 14,070 (Losses) gains included in earnings (4,440) - 4,271 (169) Sale of mortgage servicing rights held-for-sale - (6,985) - (6,985) Changes due to payments on loans - (974) - (974) New instruments acquired - 2,808 - 2,808 Amortization - - 165 165 Changes in fair value related to price of MSRs held for sale - (2,716) - (2,716) Changes in fair value of servicing assets - 338 - 338 Balance at end of period $ 1,115 $ 6,463 $ (1,041) $ 6,537 Quarter Ended September 30, 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 Balance at beginning of period $ - $ 6,580 $ 13,970 $ (6,368) $ 14,182 (Losses) gains included in earnings - (818) - 675 (143) New instruments acquired - - 554 - 554 Principal repayments - - (427) - (427) Amortization - - - 105 105 Changes in fair value of servicing assets - - (111) - (111) Balance at end of period $ - $ 5,762 $ 13,986 $ (5,588) $ 14,160 Nine-Month Period Ended September 30, 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 Balance at beginning of period $ 19,680 $ 16,430 $ 13,801 $ (15,736) $ 34,175 Gains (losses) included in earnings - (10,668) - 9,639 (1,029) Changes in fair value of investment securities available for sale included in other comprehensive income 320 - - - 320 New instruments acquired - - 1,608 - 1,608 Principal repayments (20,000) - (799) - (20,799) Amortization - - - 509 509 Changes in fair value of servicing assets - - (624) - (624) Balance at end of period $ - $ 5,762 $ 13,986 $ (5,588) $ 14,160 During the quarters and nine -month periods ended September 30 , 2015 and 2014 , 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 and non-recurring basis using significant unobservable inputs (Level 3) at September 30 , 2015 : September 30, 2015 Fair Value Valuation Technique Unobservable Input Range (In thousands) Derivative assets (S&P Purchased Options) $ 1,115 Option pricing model Implied option volatility 32.29%- 35.32% Counterparty credit risk (based on 5-year credit default swap ("CDS") spread) 79.96%- 89.03% Servicing assets $ 6,463 Cash flow valuation Constant prepayment rate 5.49% - 10.00% Discount rate 10.58% - 12.00% Derivative liability (S&P Embedded Options) $ (1,041) Option pricing model Implied option volatility 32.29%- 35.32% Counterparty credit risk (based on 5-year CDS spread) 79.96%- 89.03% Collateral dependant impaired loans $ 34,906 Fair value of property or collateral Appraised value less disposition costs 23.20% - 29.20% Puerto Rico Electric Power Authority line of credit $ 174,183 Cash flow valuation Discount rate 7.25% Other non-collateral dependant impaired loans $ 4,788 Cash flow valuation Discount rate 5.75% - 16.95% Foreclosed real estate $ 64,117 Fair value of property or collateral Appraised value less disposition costs 23.20% - 29.20% Other repossessed assets $ 8,948 Fair value of property or collateral Appraised value less disposition costs 23.20% - 29.20% 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. 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 va lue 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-ter m customer relationships of retail deposits, and premises and equipment. The estimated fair value and carrying value of the Company ’s financial instruments at September 30 , 2015 and December 31 , 2014 is as follows: September 30, December 31, 2015 2014 Fair Carrying Fair Carrying Value Value Value Value (In thousands) Level 1 Financial Assets: Cash and cash equivalents $ 526,196 $ 526,196 $ 573,427 $ 573,427 Restricted cash 4,349 4,349 8,407 8,407 Level 2 Financial Assets: Trading securities 583 583 1,594 1,594 Investment securities available-for-sale 1,007,705 1,007,705 1,216,538 1,216,538 Investment securities held-to-maturity 595,148 594,639 164,154 162,752 Federal Home Loan Bank (FHLB) stock 20,804 20,804 21,169 21,169 Other investments 3 3 3 3 Derivative assets 2,175 2,175 2,552 2,552 Financial Liabilities: Derivative liabilities 8,622 8,622 11,221 11,221 Level 3 Financial Assets: Total loans (including loans held-for-sale) 4,408,998 4,468,676 4,909,361 4,826,646 Derivative assets 1,115 1,115 5,555 5,555 FDIC indemnification asset 14,151 22,895 75,969 97,378 Accrued interest receivable 18,625 18,625 21,345 21,345 Servicing assets 6,463 6,463 13,992 13,992 Financial Liabilities: Deposits 4,714,106 4,717,074 4,893,247 4,924,406 Securities sold under agreements to repurchase 1,029,439 1,000,664 1,020,621 980,087 Advances from FHLB 336,859 332,936 339,172 334,331 Other borrowings 1,842 1,734 3,979 4,004 Subordinated capital notes 94,127 102,371 104,288 101,584 Accrued expenses and other liabilities 113,450 113,450 133,290 133,290 Derivative liabilities 1,041 1,041 5,477 5,477 The following methods and assumptions were used to estimate the fair values of signi ficant financial instruments at September 30 , 2015 and December 31 , 2014 : • Cash and cash equivalents (including money market investments and time deposits with other banks ), restricted cash, accrued interest receivable, and accrued expenses and other liabilities have been valued at the ca rrying amounts reflected in the unaudited 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 and other investments, is based on quoted market prices, when availabl e, or market price s 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 ma rket activity of the instrumen t . • The fai r value of the FDIC indemnification asset represents the present value of the net estima ted 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 eac h covered asset pool and the loss sharing percentages. The ultimate collect ability of the FDIC 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 th e Bank’s adherence to certain guidelines established by the FDIC. • The fair value of servi cing asset 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 expert s and counterparties. Certain derivatives with limited market activity are valued using externally developed models that consider unobservable mar ket parameters. The Company has offered its customers certificates of deposit with an option tied to the perfo rmance of the S&P Index, and uses equity indexed option agreements with major broker-dealer s 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 adop ted 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 pr imarily 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 o f 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 loan portfolio (including loans held-for-sale) is estimated by segregating by type, such as mort gage, 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 inh erent 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 . Non-performing loans have been valued at the carrying amounts. • 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. • The fair value of long-term borrowings , which include securities sold under agreements to repurchase, advances from FHLB-NY, other borrowings, and subordinated capital notes, is based on the discounted valu e of the contractual cash flows using current estimated market discount rates for b orrowings with similar terms, remaining maturities and put dates . |
Business Segment
Business Segment | 9 Months Ended |
Sep. 30, 2015 | |
Segment Reporting [Abstract] | |
Segment Reporting | NOTE 22 – BUSINESS SEGMENT S 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 re portable 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 fo r 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 w arrant. 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 com prised of the Bank’s trust division, Oriental Financial Services, Oriental Insurance, and OPC. 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 retirement 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 informatio n by operating segment for the quarters and nine-month periods ended September 30 , 2015 and 2014 : Quarter Ended September 30, 2015 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 97,264 $ 25 $ 9,958 $ 107,247 $ - $ 107,247 Interest expense (7,036) - (10,388) (17,424) - (17,424) Net interest income 90,228 25 (430) 89,823 - 89,823 Provision for loan and lease losses (51,579) - - (51,579) - (51,579) Non-interest income (loss) 30,098 6,513 (634) 35,977 - 35,977 Non-interest expenses (63,106) (5,063) (921) (69,090) - (69,090) Intersegment revenue 351 - 69 420 (420) - Intersegment expenses (69) (252) (99) (420) 420 - Income before income taxes $ 5,923 $ 1,223 $ (2,015) $ 5,131 $ - $ 5,131 Total assets $ 5,990,125 $ 20,594 $ 2,117,569 $ 8,128,288 (924,466) $ 7,203,822 Quarter Ended September 30, 2014 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 108,548 $ 44 $ 11,709 $ 120,301 $ - $ 120,301 Interest expense (7,892) - (10,538) (18,430) - (18,430) Net interest income 100,656 44 1,171 101,871 - 101,871 Provision for loan and lease losses (17,257) - - (17,257) - (17,257) Non-interest income (loss) (3,242) 6,208 (475) 2,491 - 2,491 Non-interest expenses (53,669) (4,483) (1,423) (59,575) - (59,575) Intersegment revenue 431 - 290 721 (721) - Intersegment expenses (290) (330) (101) (721) 721 - Income before income taxes $ 26,629 $ 1,439 $ (538) $ 27,530 $ - $ 27,530 Total assets $ 6,494,141 $ 26,800 $ 2,098,341 $ 8,619,282 (945,943) $ 7,673,339 Nine-Month Period Ended September 30, 2015 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 285,251 $ 71 $ 28,339 $ 313,661 $ - $ 313,661 Interest expense (21,600) - (30,311) (51,911) - (51,911) Net interest income 263,651 71 (1,972) 261,750 - 261,750 Provision for loan and lease losses (109,311) - - (109,311) - (109,311) Non-interest income(loss) 16,136 20,416 1,650 38,202 - 38,202 Non-interest expenses (169,264) (16,586) (4,009) (189,859) - (189,859) Intersegment revenue 1,058 - 228 1,286 (1,286) - Intersegment expenses (228) (770) (288) (1,286) 1,286 - Income before income taxes $ 2,042 $ 3,131 $ (4,391) $ 782 $ - $ 782 Nine-Month Period Ended September 30, 2014 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 330,148 $ 132 $ 38,995 $ 369,275 $ - $ 369,275 Interest expense (26,235) - (31,693) (57,928) - (57,928) Net interest income 303,913 132 7,302 311,347 - 311,347 Provision for loan and lease losses (43,763) - - (43,763) - (43,763) Non-interest income(loss) (14,845) 20,232 2,840 8,227 - 8,227 Non-interest expenses (156,867) (15,629) (8,331) (180,827) - (180,827) Intersegment revenue 1,410 - 290 1,700 (1,700) - Intersegment expenses (290) (1,089) (321) (1,700) 1,700 - Income (loss) before income taxes $ 89,558 $ 3,646 $ 1,780 $ 94,984 $ - $ 94,984 |
Accounting Policies (Policies)
Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2015 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements Policy [Policy Text Block] | Recent Accounting Developments In April 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-03, Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”). ASU 2015-03 requires that all costs incurred to issue debt be presented in the balance sheet as a direct deduction from the carrying value of the associated debt liability rather than as an asset. The standard does not affect the recognit ion and measurement of debt issuance costs; therefore, the amortization of such costs shall continue to be reported as interest expense. ASU 2015-03 will be effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015, with early adoption permissible for financial statements that have not been previously issued. The new guidance is to be applied on a retrospective basis to all prior periods. The Company does not expect the adoption of ASU 2015-03 to have a mat erial impact on its consolidated financial statements. Other than the accounting pronouncement disclosed above, there were no other new accounting pronouncement s issued during the third quarter of 2015 that could have a material impact on the Company’s financial position, operating results or financials statement disclosures. |
Restricted Cash (Tables)
Restricted Cash (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Restricted Cash And Investments Abstract | |
Restricted Cash Components and Its Secured Investments | The following table includes the composition of the Company’s restricted cash September 30, December 31, 2015 2014 (In thousands) Cash pledged as collateral to other financial institutions to secure: Derivatives $ 2,980 $ 2,980 Obligations under agreement of loans sold with recourse 1,369 5,427 $ 4,349 $ 8,407 |
Investments Securities (Tables)
Investments Securities (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Investments [Abstract] | |
Investment Table Text Block | The amortized cost, gross unrealized gains and losses, fair value, and weighted average yield of the securities owned by the Company at September 30 , 2015 and December 31 , 2014 were as follows: September 30, 2015 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 $ 777,412 $ 30,486 $ 97 $ 807,801 2.98% GNMA certificates 30,854 1,075 - 31,929 3.31% CMOs issued by US government-sponsored agencies 147,336 172 1,684 145,824 1.84% Total mortgage-backed securities 955,602 31,733 1,781 985,554 2.81% Investment securities Obligations of US government-sponsored agencies 5,572 31 - 5,603 1.36% Obligations of Puerto Rico government and political subdivisions 18,987 - 5,194 13,793 5.53% Other debt securities 2,593 162 - 2,755 2.95% Total investment securities 27,152 193 5,194 22,151 4.43% Total securities available for sale $ 982,754 $ 31,926 $ 6,975 $ 1,007,705 2.86% Held-to-maturity Mortgage-backed securities FNMA and FHLMC certificates $ 569,599 2,146 1,650 570,095 2.26% Investment securities US Treasury securities 25,040 13 - 25,053 0.49% Total securities held to maturity 594,639 2,159 1,650 595,148 2.19% Total $ 1,577,393 $ 34,085 $ 8,625 $ 1,602,853 2.61% December 31, 2014 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 $ 972,836 $ 37,876 $ 1,203 $ 1,009,509 3.12% GNMA certificates 4,473 288 8 4,753 4.94% CMOs issued by US government-sponsored agencies 179,146 136 3,153 176,129 1.81% Total mortgage-backed securities 1,156,455 38,300 4,364 1,190,391 2.92% Investment securities Obligations of US government-sponsored agencies 7,148 33 - 7,181 1.34% Obligations of Puerto Rico government and public instrumentalities 20,939 - 5,267 15,672 5.41% Other debt securities 3,137 157 - 3,294 2.95% Total investment securities 31,224 190 5,267 26,147 4.23% Total securities available-for-sale $ 1,187,679 $ 38,490 $ 9,631 $ 1,216,538 2.96% Held-to-maturity Mortgage-backed securities FNMA and FHLMC certificates 162,752 1,402 - 164,154 2.48% Total $ 1,350,431 $ 39,892 $ 9,631 $ 1,380,692 2.90% The amortized cost and fair value of the Company’s investment securities at September 30 , 2015 , by contractual maturity, are shown in the next table. September 30, 2015 Available-for-sale Held-to-maturity Amortized Cost Fair Value Amortized Cost Fair Value (In thousands) (In thousands) Mortgage-backed securities Due after 5 to 10 years FNMA and FHLMC certificates $ 16,410 $ 16,772 $ - $ - Total due after 5 to 10 years 16,410 16,772 - - Due after 10 years FNMA and FHLMC certificates 761,002 791,029 569,599 570,095 GNMA certificates 30,854 31,929 - - CMOs issued by US government-sponsored agencies 147,336 145,824 - - Total due after 10 years 939,192 968,782 569,599 570,095 Total mortgage-backed securities 955,602 985,554 569,599 570,095 Investment securities Due from 1 to 5 years US Treasury securities - - 25,040 25,053 Obligations of Puerto Rico government and political subdivisions 8,766 7,341 - - Total due from 1 to 5 years 8,766 7,341 25,040 25,053 Due after 5 to 10 years Obligations of US government and sponsored agencies 5,572 5,603 - - Total due after 5 to 10 years 5,572 5,603 - - Due after 10 years Obligations of Puerto Rico government and political subdivisions 10,221 6,452 - - Other debt securities 2,593 2,755 - - Total due after 10 years 12,814 9,207 - - Total investment securities 27,152 22,151 25,040 25,053 Total securities available-for-sale $ 982,754 $ 1,007,705 $ 594,639 $ 595,148 |
Realized Gain Loss On Investments Table Text Block | The table below presents the gross realized gains by category for such periods Nine-Month Period Ended September 30,2015 Book Value Description Sale Price at Sale Gross Gains Gross Losses (In thousands) Sale of securities available-for-sale Mortgage-backed securities FNMA and FHLMC certificates $ 40,307 $ 37,736 $ 2,571 $ - GNMA certificates 63,524 63,523 1 - Total $ 103,831 $ 101,259 $ 2,572 $ - Nine-Month Period Ended September 30,2014 Book Value Description Sale Price at Sale Gross Gains Gross Losses (In thousands) Sale of securities available-for-sale Mortgage-backed securities FNMA and FHLMC certificates $ 115,158 $ 110,792 $ 4,366 $ - GNMA certificates 74,091 74,091 - - Total mortgage-backed securities $ 189,249 $ 184,883 $ 4,366 $ - |
Unrealized Gain Loss On Investments Table Text Block | The following table s show the Company ’s gross unrealized losses and fair value of investment securities availab le-for-sale and held-to-maturity , aggregated by investment category and the length of time that individual securities have been in a continuo us unrealized loss position at September 30, 2015 12 months or more Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies $ 109,190 $ 1,684 $ 107,506 Obligations of Puerto Rico government and political subdivisions 18,987 5,194 13,793 $ 128,177 $ 6,878 $ 121,299 Less than 12 months Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale FNMA and FHLMC certificates $ 49,679 $ 97 $ 49,582 Securities held-to-maturity FNMA and FHLMC Certificates 342,215 1,650 340,565 $ 391,894 $ 1,747 $ 390,147 Total Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies $ 109,190 $ 1,684 $ 107,506 FNMA and FHLMC certificates 49,679 97 49,582 Obligations of Puerto Rico government and political subdivisions 18,987 5,194 13,793 177,856 6,975 170,881 Securities held-to-maturity FNMA and FHLMC Certificates 342,215 1,650 340,565 $ 520,071 $ 8,625 $ 511,446 December 31, 2014 12 months or more Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale Obligations of Puerto Rico government and political subdivisions $ 20,939 $ 5,267 $ 15,672 CMOs issued by US government-sponsored agencies 143,928 3,086 140,842 FNMA and FHLMC certificates 113,376 1,172 112,204 GNMA certificates 77 8 69 $ 278,320 $ 9,533 $ 268,787 Less than 12 months Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies 15,172 67 15,105 FNMA and FHLMC certificates 63,736 31 63,705 $ 78,908 $ 98 $ 78,810 Total Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies 159,100 3,153 155,947 FNMA and FHLMC certificates 177,112 1,203 175,909 Obligations of Puerto Rico government and political subdivisions 20,939 5,267 15,672 GNMA certificates 77 8 69 $ 357,228 $ 9,631 $ 347,597 |
Other Than Temporary Impairment Credit Losses Recognized In Earnings | The following table presents a rollforward of credit-related impairment losses recognized in earnings for the quarter and nine-month periods ended September 30, 2015 and 2014 on available-for-sale securities that the Company does no t have the intent to sell or will not more-likely-than-not be required to sell: Quarter Ended September 30, Nine-Month Period Ended September 30, 2015 2014 2015 2014 (In thousands) Balance at beginning of period $ - $ - $ - $ - Additions from credit losses recognized on available-for-sale securities that had no previous impairment losses 246 - 246 - Balance at end of period $ 246 $ - $ 246 $ - |
Loans Receivable (Tables)
Loans Receivable (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
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 September 30 , 2015 and December 31 , 2014 was as follows September 30, December 31, 2015 2014 (In thousands) Originated and other loans and leases held for investment: Mortgage $ 762,636 $ 791,751 Commercial 1,389,353 1,289,732 Consumer 227,756 186,760 Auto and leasing 647,544 575,582 3,027,289 2,843,825 Allowance for loan and lease losses on originated and other loans and leases (80,351) (51,439) 2,946,938 2,792,386 Deferred loan costs, net 4,571 4,282 Total originated and other loans loans held for investment, net 2,951,509 2,796,668 Acquired loans: Acquired BBVAPR loans: Accounted for under ASC 310-20 (Loans with revolving feature and/or acquired at a premium) Commercial 7,736 12,675 Consumer 39,774 45,344 Auto 124,120 184,782 171,630 242,801 Allowance for loan and lease losses on acquired BBVAPR loans accounted for under ASC 310-20 (5,473) (4,597) 166,157 238,204 Accounted for under ASC 310-30 (Loans acquired with deteriorated credit quality, including those by analogy) Mortgage 617,268 656,122 Commercial 395,637 452,201 Construction - 106,361 Consumer 15,072 29,888 Auto 173,979 247,233 1,201,956 1,491,805 Allowance for loan and lease losses on Acquired BBVAPR loans accounted for under ASC 310-30 (19,986) (13,481) 1,181,970 1,478,324 Total acquired BBVAPR loans, net 1,348,127 1,716,528 Acquired Eurobank loans: Loans secured by 1-4 family residential properties 92,757 102,162 Commercial 144,704 256,488 Consumer 2,708 4,506 Total acquired Eurobank loans 240,169 363,156 Allowance for loan and lease losses on Eurobank loans (90,332) (64,245) Total acquired Eurobank loans, net 149,837 298,911 Total acquired loans, net 1,497,964 2,015,439 Total held for investment, net 4,449,473 4,812,107 Mortgage loans held for sale 19,203 14,539 Total loans, net $ 4,468,676 $ 4,826,646 |
Past Due Financing Receivables [Table Text Block] | The following table s present the aging of the recorded investment in gross originated and other loans held for investment as of September 30 , 2015 and December 31 , 2014 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 r epurchase, even when they elect not to exercise that option September 30, 2015 Loans 90+ Days Past Current Due and 30-59 Days 60-89 Days 90+ Days Total Past in Non- Current Still Past Due Past Due Past Due Due Accrual Accruing Total Loans Accruing (In thousands) Mortgage Traditional (by origination year): Up to the year 2002 $ 81 $ 2,270 $ 3,900 $ 6,251 $ - $ 53,330 $ 59,581 $ 73 Years 2003 and 2004 364 4,723 5,826 10,913 - 90,950 101,863 - Year 2005 - 2,525 3,686 6,211 - 49,389 55,600 - Year 2006 97 2,853 8,133 11,083 137 69,207 80,427 - Years 2007, 2008 and 2009 539 2,320 15,442 18,301 - 76,017 94,318 666 Years 2010, 2011, 2012, 2013 599 1,249 10,337 12,185 - 142,346 154,531 74 Years 2014 and 2015 - 96 185 281 - 76,111 76,392 - 1,680 16,036 47,509 65,225 137 557,350 622,712 813 Non-traditional - 1,918 3,468 5,386 14 26,849 32,249 - Loss mitigation program 11,696 5,981 16,001 33,678 4,786 61,703 100,167 3,757 13,376 23,935 66,978 104,289 4,937 645,902 755,128 4,570 Home equity secured personal loans 64 - - 64 - 451 515 - GNMA's buy-back option program - - 6,993 6,993 - - 6,993 - 13,440 23,935 73,971 111,346 4,937 646,353 762,636 4,570 Commercial Commercial secured by real estate: Corporate - - - - - 224,110 224,110 - Institutional - - - - - 34,342 34,342 - Middle market - - 6,212 6,212 7,889 193,154 207,255 - Retail 516 350 7,222 8,088 1,139 202,534 211,761 - Floor plan - - - - - 2,925 2,925 - Real estate - - - - - 16,766 16,766 - 516 350 13,434 14,300 9,028 673,831 697,159 - Other commercial and industrial: Corporate - - - - - 71,714 71,714 - Institutional - - - - 193,904 189,882 383,786 - Middle market 20 - 223 243 2,046 105,554 107,843 - Retail 276 255 1,204 1,735 944 89,989 92,668 - Floor plan 178 83 475 736 - 35,447 36,183 - 474 338 1,902 2,714 196,894 492,586 692,194 - 990 688 15,336 17,014 205,922 1,166,417 1,389,353 - September 30, 2015 Loans 90+ Days Past Current Due and 30-59 Days 60-89 Days 90+ Days Total Past in Non- Current Still Past Due Past Due Past Due Due Accrual Accruing Total Loans Accruing (In thousands) Consumer Credit cards 436 182 344 962 - 20,186 21,148 - Overdrafts 15 - - 15 - 260 275 - Personal lines of credit 31 27 39 97 21 2,066 2,184 - Personal loans 1,798 822 862 3,482 641 183,703 187,826 - Cash collateral personal loans 171 103 2 276 - 16,047 16,323 - 2,451 1,134 1,247 4,832 662 222,262 227,756 - Auto and leasing 52,412 19,215 8,986 80,613 282 566,649 647,544 - Total $ 69,293 $ 44,972 $ 99,540 $ 213,805 $ 211,803 $ 2,601,681 $ 3,027,289 $ 4,570 December 31, 2014 Loans 90+ Days Past Current Due and 30-59 Days 60-89 Days 90+ Days Total Past in Non- Current Still Past Due Past Due Past Due Due Accrual Accruing Total Loans Accruing (In thousands) Mortgage Traditional (by origination year): Up to the year 2002 $ 4,128 $ 3,157 $ 4,395 $ 11,680 $ - $ 54,064 $ 65,744 $ 134 Years 2003 and 2004 10,484 4,735 6,489 21,708 455 87,506 109,669 - Year 2005 3,824 2,205 4,454 10,483 131 49,858 60,472 - Year 2006 5,706 3,298 8,667 17,671 548 67,331 85,550 89 Years 2007, 2008 and 2009 5,283 1,809 7,646 14,738 761 77,990 93,489 - Years 2010, 2011, 2012, 2013 3,394 2,992 6,900 13,286 - 149,030 162,316 365 Year 2014 290 - - 290 - 41,818 42,108 - 33,109 18,196 38,551 89,856 1,895 527,597 619,348 588 Non-traditional 1,477 584 3,223 5,284 - 30,916 36,200 - Loss mitigation program 8,199 7,106 14,114 29,419 6,358 57,666 93,443 2,766 42,785 25,886 55,888 124,559 8,253 616,179 748,991 3,354 Home equity secured personal loans - - - - - 517 517 - GNMA's buy-back option program - - 42,243 42,243 - - 42,243 - 42,785 25,886 98,131 166,802 8,253 616,696 791,751 3,354 Commercial Commercial secured by real estate: Corporate - - - - - 133,076 133,076 - Institutional - - - - - 36,611 36,611 - Middle market - 645 396 1,041 8,494 154,515 164,050 - Retail 330 561 7,275 8,166 1,445 166,017 175,628 - Floor plan - - - - - 1,650 1,650 - Real estate - - - - - 12,628 12,628 - 330 1,206 7,671 9,207 9,939 504,497 523,643 - Other commercial and industrial: Corporate - - - - - 63,746 63,746 - Institutional - - - - - 478,935 478,935 - Middle market - - 618 618 - 91,716 92,334 - Retail 866 412 1,061 2,339 1,047 86,785 90,171 - Floor plan - - - - - 40,903 40,903 - 866 412 1,679 2,957 1,047 762,085 766,089 - 1,196 1,618 9,350 12,164 10,986 1,266,582 1,289,732 - December 31, 2014 Loans 90+ Days Past Current Due and 30-59 Days 60-89 Days 90+ Days Total Past in Non- Current Still Past Due Past Due Past Due Due Accrual Accruing Total Loans Accruing (In thousands) Consumer Credit cards 360 139 375 874 - 18,197 19,071 - Overdrafts 20 - - 20 - 287 307 - Personal lines of credit 102 25 102 229 9 1,962 2,200 - Personal loans 1,822 743 678 3,243 337 144,359 147,939 - Cash collateral personal loans 275 39 9 323 - 16,920 17,243 - 2,579 946 1,164 4,689 346 181,725 186,760 - Auto and leasing 47,658 16,916 7,420 71,994 145 503,443 575,582 - Total $ 94,218 $ 45,366 $ 116,065 $ 255,649 $ 19,730 $ 2,568,446 $ 2,843,825 $ 3,354 The following table s present the aging of the recorded investment in gross acquired BBVAPR loans accounted for under ASC 310-20 as of September 30 , 2015 and December 31 , 2014 , by class of loans : September 30, 2015 Loans 90+ Days Past Current Due and 30-59 Days 60-89 Days 90+ Days Total Past in Non- Current Still Past Due Past Due Past Due Due Accrual Accruing Total Loans Accruing (In thousands) Commercial Commercial secured by real estate Retail $ - $ - $ 279 $ 279 $ 47 $ - $ 326 $ - Floor plan - - 478 478 - 2,470 2,948 - - - 757 757 47 2,470 3,274 - Other commercial and industrial Retail 228 24 61 313 - 3,475 3,788 - Floor plan - 10 7 17 1 656 674 - 228 34 68 330 1 4,131 4,462 - 228 34 825 1,087 48 6,601 7,736 - Consumer Credit cards 825 422 769 2,016 - 34,510 36,526 - Personal loans 89 14 41 144 - 3,104 3,248 - 914 436 810 2,160 - 37,614 39,774 - Auto 9,010 2,921 1,040 12,971 49 111,100 124,120 - Total $ 10,152 $ 3,391 $ 2,675 $ 16,218 $ 97 $ 155,315 $ 171,630 $ - December 31, 2014 Loans 90+ Days Past Current Due and 30-59 Days 60-89 Days 90+ Days Total Past in Non- Current Still Past Due Past Due Past Due Due Accrual Accruing Total Loans Accruing (In thousands) Commercial Commercial secured by real estate Retail $ - $ - $ 351 $ 351 $ - $ - $ 351 $ - Floor plan - 62 345 407 - 3,724 4,131 - - 62 696 758 - 3,724 4,482 - Other commercial and industrial Retail 155 67 192 414 2 3,705 4,121 - Floor plan 202 134 223 559 10 3,503 4,072 - 357 201 415 973 12 7,208 8,193 - 357 263 1,111 1,731 12 10,932 12,675 - Consumer Credit cards 1,376 654 1,399 3,429 - 38,419 41,848 - Personal loans 151 47 77 275 - 3,221 3,496 - 1,527 701 1,476 3,704 - 41,640 45,344 - Auto 11,003 3,453 1,262 15,718 76 168,988 184,782 - Total $ 12,887 $ 4,417 $ 3,849 $ 21,153 $ 88 $ 221,560 $ 242,801 $ - |
Carrying Amounts Of Acquired Loans Tabular Disclosure [Table Text Block] | The carrying amount corresponding to acquired BBVAPR loans with deteriorated credit quality, including those accounted under ASC 310-30 by analogy, in the statements of financial condition at September 30 , 2015 and December 31 , 2014 is as follows: September 30, December 31, 2015 2014 (In thousands) Contractual required payments receivable $2,022,672 $2,394,378 Less: Non-accretable discount $442,103 $456,627 Cash expected to be collected 1,580,569 1,937,751 Less: Accretable yield 378,613 445,946 Carrying amount, gross 1,201,956 1,491,805 Less: allowance for loan and lease losses 19,986 13,481 Carrying amount, net $1,181,970 $1,478,324 |
Accretable Yield for Acquired Loans [Table Text Block] | The following tables describe the accretable yield and non- accretable discount activity of acquired BBVAPR loans accounted f or under ASC 310-30 for the quarters and nine -month period s ended September 30 , 2015 and 2014 Quarter Ended September 30, 2015 Mortgage Commercial Construction Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 275,880 $ 71,563 $ 24,613 $ 31,531 $ 8,461 $ 412,048 Accretion (8,614) (12,693) (2,719) (5,463) (1,207) (30,696) Change in expected cash flows - 6,134 1,396 (1) (1) 7,528 Transfer (to) from non-accretable discount 75 (6,450) (4,075) 148 35 (10,267) Balance at end of period $ 267,341 $ 58,554 $ 19,215 $ 26,215 $ 7,288 $ 378,613 Non-Accretable Discount Activity: Balance at beginning of period $ 389,107 $ 10,770 $ 6,994 $ 23,690 $ 19,356 $ 449,917 Change in actual and expected losses (2,184) (12,090) (2,937) (555) (315) (18,081) Transfer from (to) accretable yield (75) 6,450 4,075 (148) (35) 10,267 Balance at end of period $ 386,848 $ 5,130 $ 8,132 $ 22,987 $ 19,006 $ 442,103 Nine-Month Period Ended September 30, 2015 Mortgage Commercial Construction Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 298,364 $ 61,196 $ 25,829 $ 53,998 $ 6,559 $ 445,946 Accretion (26,414) (33,049) (8,672) (18,614) (3,420) (90,169) Change in expected cash flows - 6,134 1,396 (1) (1) 7,528 Transfer (to) from non-accretable discount (4,609) 24,273 662 (9,168) 4,150 15,308 Balance at end of period $ 267,341 $ 58,554 $ 19,215 $ 26,215 $ 7,288 $ 378,613 Non-Accretable Discount Activity: Balance at beginning of period $ 389,839 $ 23,069 $ 3,486 $ 16,215 $ 24,018 $ 456,627 Change in actual and expected losses (7,600) 6,334 5,308 (2,396) (862) 784 Transfer from (to) accretable yield 4,609 (24,273) (662) 9,168 (4,150) (15,308) Balance at end of period $ 386,848 $ 5,130 $ 8,132 $ 22,987 $ 19,006 $ 442,103 Quarter Ended September 30, 2014 Mortgage Commercial Construction Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 269,105 $ 70,491 $ 30,672 $ 64,620 $ 9,718 $ 444,606 Accretion (9,627) (12,575) (5,929) (8,825) (1,384) (38,340) Transfer (to) from non-accretable discount - 1,137 (3,550) 237 40 (2,136) Balance at end of period $ 259,478 $ 59,053 $ 21,193 $ 56,032 $ 8,374 $ 404,130 Non-Accretable Discount Activity: Balance at beginning of period $ 455,789 $ 41,050 $ 5,388 $ 27,279 $ 25,218 $ 554,724 Change in actual and expected losses (15,802) (4,215) (8,937) (2,800) (1,119) (32,873) Transfer from (to) accretable yield - (1,137) 3,550 (237) (40) 2,136 Balance at end of period $ 439,987 $ 35,698 $ 1 $ 24,242 $ 24,059 $ 523,987 Nine-Month Period September 30, 2014 Mortgage Commercial Construction Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 287,841 96,139 42,993 77,845 12,735 517,553 Accretion (28,359) (37,509) (16,388) (31,243) (4,824) (118,323) Transfer (to) from non-accretable discount (4) 423 (5,412) 9,430 463 4,900 Balance at end of period $ 259,478 59,053 21,193 56,032 8,374 404,130 Non-Accretable Discount Activity: Balance at beginning of period $ 463,166 42,515 5,851 39,645 28,410 579,587 Change in actual and expected losses (23,183) (6,394) (11,262) (5,973) (3,888) (50,700) Transfer from (to) accretable yield 4 (423) 5,412 (9,430) (463) (4,900) Balance at end of period $ 439,987 35,698 1 24,242 24,059 523,987 |
Eurobank loans carrying amount [Table Text Block] | Acquired Eurobank Loans The carrying amount of acquired Eurobank loans at September 30 , 2015 and December 31 , 2014 is as follows: September 30 December 31 2015 2014 (In thousands) Contractual required payments receivable $ 357,702 $ 535,425 Less: Non-accretable discount 21,675 62,410 Cash expected to be collected 336,027 473,015 Less: Accretable yield 95,858 109,859 Carrying amount, gross 240,169 363,156 Less: Allowance for covered loan and lease losses 90,332 64,245 Carrying amount, net $ 149,837 $ 298,911 |
Accretable Yield for Acquired Eurobank Loans [Table Text Block] | The following tables describe the accretable yield and non- a ccretable discount activity of acquired Eurobank loans for the quarters and nine-month periods periods ended September 30 , 2015 and 2014 : Nine-Month Period Ended September 30, 2015 Loans Secured by 1-4 Family Residential Properties Commercial and Other Construction Construction & Development Secured by 1-4 Family Residential Properties Leasing Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 47,636 $ 37,919 $ 20,753 $ 2,479 $ 1,072 $ 109,859 Accretion (10,337) (28,002) (2,470) (3,040) (427) (44,276) Change in expected cash flows 4,320 43,775 (10,749) 270 118 37,734 Transfer from (to) non-accretable discount 12,776 (22,944) (1,205) 1,260 2,654 (7,459) Balance at end of period $ 54,395 $ 30,748 $ 6,329 $ 969 $ 3,417 $ 95,858 Non-Accretable Discount Activity: Balance at beginning of period $ 27,348 $ 24,464 $ - $ - $ 10,598 $ 62,410 Change in actual and expected losses (990) (47,408) (1,205) 1,260 149 (48,194) Transfer from (to) accretable yield (12,776) 22,944 1,205 (1,260) (2,654) 7,459 Balance at end of period $ 13,582 $ - $ - $ - $ 8,093 $ 21,675 Quarter Ended September 30, 2014 Loans Secured by 1-4 Family Residential Properties Commercial and Other Construction Construction & Development Secured by 1-4 Family Residential Properties Leasing Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 50,586 $ 70,227 $ - $ 5,100 $ 2,148 $ 128,061 Accretion (3,882) (13,044) (1,056) (2,500) (404) (20,886) Transfer from (to) non-accretable discount - 698 1,056 305 750 2,809 Balance at end of period $ 46,704 $ 57,881 $ - $ 2,905 $ 2,494 $ 109,984 Non-Accretable Discount Activity: Balance at beginning of period $ 29,859 $ 46,596 $ - $ - $ 8,769 $ 85,224 Change in actual and expected losses (888) (5,648) 1,056 305 700 (4,475) Transfer (to) from accretable yield - (698) (1,056) (305) (750) (2,809) Balance at end of period $ 28,971 $ 40,250 $ - $ - $ 8,719 $ 77,940 Nine-Month Period Ended September 30, 2014 Loans Secured by 1-4 Family Residential Properties Commercial and Other Construction Construction & Development Secured by 1-4 Family Residential Properties Leasing Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 53,250 $ 95,093 $ 1,690 $ 10,238 $ 2,688 $ 162,959 Accretion (12,079) (45,037) (3,206) (7,888) (944) (69,154) Transfer from (to) non-accretable discount 5,533 7,825 1,516 555 750 16,179 Balance at end of period $ 46,704 $ 57,881 $ - $ 2,905 $ 2,494 $ 109,984 Non-Accretable Discount Activity: Balance at beginning of period $ 39,182 $ 81,092 $ - $ - $ 9,203 $ 129,477 Change in actual and expected losses (4,678) (33,017) 1,516 555 266 (35,358) Transfer (to) from accretable yield (5,533) (7,825) (1,516) (555) (750) (16,179) Balance at end of period $ 28,971 $ 40,250 $ - $ - $ 8,719 $ 77,940 |
Financing Receivable Recorded Investment Nonaccrual Status By Class Of Loans [Table Text Block] | At September 30, 2015, $ 92.8 million in gross loans continue subject to the loss-s haring agreements with the FDIC and are disclosed under the name "loans secured by 1-4 family residential properties ." At September 30, 2015, the net carrying amount of these loans was $60.1 million. Non-accrual Loans The following table presents the recorded investment in loans in non-accrual status by class of loans as of September 30 , 2015 and December 31 , 2014 : September 30, December 31, 2015 2014 (In thousands) Originated and other loans and leases held for investment Mortgage Traditional (by origination year): Up to the year 2002 $ 3,827 $ 4,427 Years 2003 and 2004 6,275 7,042 Year 2005 3,686 4,585 Year 2006 8,270 9,274 Years 2007, 2008 and 2009 14,949 8,579 Years 2010, 2011, 2012, 2013 10,264 7,365 Years 2014 and 2015 185 - 47,456 41,272 Non-traditional 3,482 3,224 Loss mitigation program 19,227 20,934 70,165 65,430 Commercial Commercial secured by real estate Middle market 14,101 9,534 Retail 8,958 9,000 23,059 18,534 Other commercial and industrial Institutional 193,904 - Middle market 2,270 618 Retail 2,364 2,527 Floor plan 475 - 199,013 3,145 222,072 21,679 Consumer Credit cards 344 375 Personal lines of credit 60 110 Personal loans 1,598 1,092 Cash collateral personal loans 2 13 2,004 1,590 Auto and leasing 10,076 8,668 Total non-accrual originated loans $ 304,317 $ 97,367 September 30, December 31, 2015 2014 (In thousands) Acquired BBVAPR loans accounted for under ASC 310-20 Commercial Commercial secured by real estate Retail $ 326 $ 351 Floor plan 477 407 803 758 Other commercial and industrial Retail 61 195 Floor plan 9 234 70 429 873 1,187 Consumer Credit cards 769 1,399 Personal loans 41 77 810 1,476 Auto 1,244 1,512 Total non-accrual acquired BBVAPR loans accounted for under ASC 310-20 2,927 4,175 Total non-accrual loans $ 307,244 $ 101,542 |
Impaired Financing Receivables [Table Text Block] | O riginated and Other Loans and L eases Held for Investment T he Company ’s recorded investment in commercial and mortgage loans, excluding acquired Eurobank loans, categorized as originated and other loans and leases held for investment that were individually evaluated for impairment and the related allowan ce for loan and lease losses at September 30 , 2015 and December 31 , 2014 are as follows : September 30, 2015 Unpaid Recorded Related Principal Investment Allowance Coverage (In thousands) Impaired loans with specific allowance: Commercial $ 213,930 $ 206,227 $ 26,809 13% Residential troubled-debt restructuring 97,203 90,530 8,249 9% Impaired loans with no specific allowance: Commercial 30,464 26,887 N/A N/A Total investment in impaired loans $ 341,597 $ 323,644 $ 35,058 11% December 31, 2014 Unpaid Recorded Related Principal Investment Allowance Coverage (In thousands) Impaired loans with specific allowance Commercial $ 6,349 $ 6,226 $ 841 14% Residential troubled-debt restructuring 99,947 94,185 8,968 10% Impaired loans with no specific allowance Commercial 237,806 230,044 N/A N/A Total investment in impaired loans $ 344,102 $ 330,455 $ 9,809 3% Acquired BBVAPR Loans Loans Accounted for under ASC 310- 20 (Loans with revolving feature and/or acquired at a premium) T he Company’s recorded investment in acquired BBVAPR commercial loans accounted for under ASC 310-20 that were individually evaluated for impairment and the related allowance for loan and lease losses at September 30 , 2015 and December 31 , 2014 are as follows: September 30, 2015 Unpaid Recorded Related Principal Investment Allowance Coverage (In thousands) Impaired loans with no specific allowance Commercial $ 494 $ 485 N/A N/A Total investment in impaired loans $ 494 $ 485 $ - - December 31, 2014 Unpaid Recorded Specific Principal Investment Allowance Coverage (In thousands) Impaired loans with no specific allowance Commercial $ 672 $ 672 N/A N/A Total investment in impaired loans $ 672 $ 672 $ - - Loans Accounted for under ASC 310-30 (including those accounted for under ASC 310-30 by analogy) T he Company ’s recorded investment in acquired BBVAPR loan pools accounted for under ASC 310-30 and their related allowance for loan and lease losses at September 30 , 2015 and December 31 , 2014 are as follows September 30, 2015 Coverage Unpaid Recorded to Recorded Principal Investment Allowance Investment (In thousands) Impaired loan pools: Mortgage $ 617,268 $ 22,762 $ 557 2% Commercial 307,271 185,274 11,780 6% Construction 88,365 88,202 4,787 5% Auto 173,979 173,979 2,862 2% Total investment in impaired loan pools $ 1,186,883 $ 470,217 $ 19,986 4% December 31 , 2014 Coverage Unpaid Recorded to Recorded Principal Investment Allowance Investment (In thousands) Impaired loan pools: Commercial 289,228 255,619 5,506 2% Construction 90,786 83,751 7,970 10% Consumer 35,812 29,888 5 0% Total investment in impaired loan pools $ 415,826 $ 369,258 $ 13,481 4% Acquired Eurobank Loans T he Company ’s recorded investment in acquired Eurobank loan pools that have recorded impairment s and the ir related allowance for loan and lease losses as of September 30 , 2015 and December 31 , 2014 are as follows : September 30, 2015 Coverage Unpaid Recorded to Recorded Principal Investment Allowance Investment (In thousands) Impaired loan pools: Loans secured by 1-4 family residential properties $ 108,537 $ 105,734 $ 32,685 31% Construction and development secured by 1-4 family residential properties 11,506 3,185 2,707 85% Commercial and other construction 137,163 128,543 54,697 43% Consumer 6,935 2,708 243 9% Total investment in impaired loan pools $ 264,141 $ 240,170 $ 90,332 38% December 31, 2014 Coverage Unpaid Recorded Specific to Recorded Principal Investment Allowance Investment (In thousands) Impaired loan pools with specific allowance Loans secured by 1-4 family residential properties $ 134,579 $ 106,116 $ 15,522 15% Construction and development secured by 1-4 family residential properties 57,123 19,562 10,724 55% Commercial and other construction 93,894 74,069 37,610 51% Consumer 7,992 4,506 389 9% Total investment in impaired loan pools $ 293,588 $ 204,253 $ 64,245 31% |
Impaired Financing Receivables Loans, excluding ASC 310-30 [Table Text Block] | The following table presents the interest recognized on commercial and mortgage loans that were individually evaluated for impairment, excluding loans accounted for under ASC 310-30, for the quarters and nine -month periods ended September 30 , 2015 an d 2014 : Quarter Ended September 30, 2015 2014 Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment (In thousands) Originated and other loans held for investment: Impaired loans with specific allowance Commercial $ 37 $ 207,610 $ 28 $ 5,103 Residential troubled-debt restructuring 788 90,278 666 91,293 Impaired loans with no specific allowance Commercial 365 31,159 1,728 89,029 1,190 329,047 2,422 185,425 Acquired loans accounted for under ASC 310-20: Impaired loans with no specific allowance Commercial - 1,077 - - Total interest income from impaired loans $ 1,190 $ 330,124 $ 2,422 $ 185,425 Nine-Month Period Ended September 30, 2015 2014 Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment (In thousands) Originated and other loans held for investment: Impaired loans with specific allowance Commercial $ 73 $ 166,633 $ 83 $ 6,187 Residential troubled-debt restructuring 2,381 90,903 1,876 89,597 Impaired loans with no specific allowance Commercial 727 74,247 5,185 44,203 $ 3,181 $ 331,783 $ 7,144 $ 139,987 Acquired loans accounted for under ASC 310-20: Impaired loans with no specific allowance Commercial - 1,641 - - Total interest income from impaired loans $ 3,181 $ 333,424 $ 7,144 $ 139,987 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Modifications The follow ing tables present the troubled- debt restructuring s during the quarters and nine -month periods ended September 30 , 2015 and 2014 : Quarter Ended September 30, 2015 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 30 $ 3,846 6.34% 338 $ 3,992 4.45% 180 Commercial 3 1,001 6.50% 12 8,511 3.19% 12 Consumer 27 170 12.41% 70 400 12.32% 52 Nine-Month Period Ended September 30, 2015 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 127 $ 15,455 5.07% 346 $ 15,586 4.21% 306 Commercial 7 5,534 6.77% 67 13,045 4.52% 57 Consumer 59 567 13.87% 71 840 13.33% 60 Auto 1 64 12.95% 72 65 12.95% 72 Quarter Ended September 30, 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 26 $ 3,016 5.62% 347 $ 2,965 4.22% 393 Commercial 20 200,007 7.25% 3 200,007 7.25% 10 Consumer 6 58 10.00% 61 68 9.66% 55 Nine-Month Period Ended September 30, 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 113 $ 14,562 5.99% 349 $ 14,162 4.21% 389 Commercial 21 200,080 7.25% 3 200,080 7.25% 10 Consumer 13 123 11.77% 55 139 11.48% 62 The following table presents troubled -debt restructurings for which there was a p ayment default during the twelve-month periods ended September 30 , 2015 and 2014 : Twelve-Month Period Ended September 30, 2015 2014 Number of Contracts Recorded Investment Number of Contracts Recorded Investment (Dollars in thousands) Mortgage 49 $ 5,396 15 $ 1,739 Consumer 8 $ 177 2 $ 5 Auto 1 $ 64 - $ - |
Financing Receivable Credit Quality Indicators [Table Text Block] | As of September 30 , 2015 and December 31 , 2014 , and based on the most recent analysis performed, the ris k category of gross originated and other loans and BBVAPR acquired loans accounted for under ASC 310-20 subject to risk rating by class of loans is as follows: September 30, 2015 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 $ 224,110 $ 206,678 $ 15,227 $ - $ - $ 2,205 Institutional 34,342 26,101 8,023 - - 218 Middle market 207,255 182,617 9,368 - - 15,270 Retail 211,761 191,523 4,633 4,821 - 10,784 Floor plan 2,925 2,925 - - - - Real estate 16,766 16,766 - - - - 697,159 626,610 37,251 4,821 - 28,477 Other commercial and industrial: Corporate 71,714 66,054 - - - 5,660 Institutional 383,786 189,882 - - - 193,904 Middle market 107,843 102,757 2,395 - - 2,691 Retail 92,668 87,839 673 2,110 - 2,046 Floor plan 36,183 33,453 2,169 225 - 336 692,194 479,985 5,237 2,335 - 204,637 Total 1,389,353 1,106,595 42,488 7,156 - 233,114 Commercial - acquired loans (under ASC 310-20) Commercial secured by real estate: Retail 326 - - 326 - - Floor plan 2,948 1,641 829 - - 478 3,274 1,641 829 326 - 478 Other commercial and industrial: Retail 3,788 3,777 - 11 - - Floor plan 674 666 - 1 - 7 4,462 4,443 - 12 - 7 Total 7,736 6,084 829 338 - 485 Total $ 1,397,089 $ 1,112,679 $ 43,317 $ 7,494 $ - $ 233,599 December 31, 2014 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 $ 133,076 $ 109,282 $ 15,615 $ - $ - $ 8,179 Institutional 36,611 27,089 9,284 - - 238 Middle market 164,050 148,360 2,817 - - 12,873 Retail 175,628 159,209 3,690 2,637 - 10,092 Floor plan 1,650 692 958 - - - Real estate 12,628 12,628 - - - - 523,643 457,260 32,364 2,637 - 31,382 Other commercial and industrial: Corporate 63,746 63,746 - - - - Institutional 478,935 278,953 - - - 199,982 Middle market 92,334 87,126 2,815 - - 2,393 Retail 90,171 85,941 259 2,575 - 1,396 Floor plan 40,903 38,413 1,247 126 - 1,117 766,089 554,179 4,321 2,701 - 204,888 Total 1,289,732 1,011,439 36,685 5,338 - 236,270 Commercial - acquired loans (under ASC 310-20) Commercial secured by real estate: Retail 351 - - 351 - - Floor plan 4,131 3,724 - - - 407 4,482 3,724 - 351 - 407 Other commercial and industrial: Retail 4,121 4,080 8 33 - - Floor plan 4,072 3,807 - - - 265 8,193 7,887 8 33 - 265 Total 12,675 11,611 8 384 - 672 Total $ 1,302,407 $ 1,023,050 $ 36,693 $ 5,722 $ - $ 236,942 For residential and consumer loan classes, the Company evaluates credit quality based on the delinquency status of the loan . As of September 30 , 2015 and December 31 , 2014 , and based on the most recent analysis performed, the risk category of gross origina ted and other loans and acquired BBVAPR loans accounted for under ASC 310-20 not subject to risk rating by class of loans is as follows: September 30, 2015 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 $ 59,581 $ 52,550 $ 82 $ 2,267 $ 999 $ 1,083 $ 1,818 $ 782 Years 2003 and 2004 101,863 89,211 364 4,723 1,763 1,064 2,999 1,739 Year 2005 55,600 48,517 - 2,525 287 1,192 2,208 871 Year 2006 80,427 65,839 97 2,854 1,070 1,708 5,354 3,505 Years 2007, 2008 and 2009 94,318 72,491 281 2,151 1,447 3,926 9,984 4,038 Years 2010, 2011, 2012 2013 154,531 139,927 538 1,248 139 4,007 4,338 4,334 Years 2014 and 2015 76,392 76,111 - 96 - 185 - - 622,712 544,646 1,362 15,864 5,705 13,165 26,701 15,269 Non-traditional 32,249 26,863 - 1,918 375 1,362 1,731 - Loss mitigation program 100,167 16,289 2,479 1,530 1,194 1,723 1,691 75,261 755,128 587,798 3,841 19,312 7,274 16,250 30,123 90,530 Home equity secured personal loans 515 451 64 - - - - - GNMA's buy-back option program 6,993 - - - 973 3,840 2,180 - 762,636 588,249 3,905 19,312 8,247 20,090 32,303 90,530 Consumer Credit cards 21,148 20,186 436 182 123 221 - - Overdrafts 275 260 15 - - - - - Unsecured personal lines of credit 2,184 2,087 31 27 39 - - - Unsecured personal loans 187,826 184,441 1,737 786 835 27 - - Cash collateral personal loans 16,323 16,047 171 103 - 2 - - 227,756 223,021 2,390 1,098 997 250 - - Auto and Leasing 647,544 566,993 52,350 19,215 6,668 2,318 - - 1,637,936 1,378,263 58,645 39,625 15,912 22,658 32,303 90,530 Acquired loans (accounted for under ASC 310-20) Consumer Credit cards 36,526 34,511 825 422 351 417 - - Personal loans 3,248 3,102 89 14 11 32 - - 39,774 37,613 914 436 362 449 - - Auto 124,120 111,149 9,010 2,921 752 288 - - 163,894 148,762 9,924 3,357 1,114 737 - - Total $ 1,801,830 $ 1,527,025 $ 68,569 $ 42,982 $ 17,026 $ 23,395 $ 32,303 $ 90,530 December 31, 2014 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 $ 65,744 $ 53,432 $ 3,963 $ 3,083 $ 1,044 $ 1,360 $ 1,975 $ 887 Years 2003 and 2004 109,669 86,941 10,391 4,362 1,657 3,215 1,330 1,773 Year 2005 60,472 49,275 3,824 2,205 389 1,673 1,893 1,213 Year 2006 85,550 65,113 5,263 2,967 1,242 2,801 4,624 3,540 Years 2007, 2008 and 2009 93,489 76,246 4,230 1,809 337 3,986 2,813 4,068 Years 2010, 2011, 2012 2013 162,316 148,832 2,698 2,490 938 1,397 1,296 4,665 Year 2014 42,108 41,818 290 - - - - - 619,348 521,657 30,659 16,916 5,607 14,432 13,931 16,146 Non-traditional 36,200 30,916 1,477 584 478 600 2,096 49 Loss mitigation program 93,443 10,882 995 1,123 802 405 1,246 77,990 748,991 563,455 33,131 18,623 6,887 15,437 17,273 94,185 Home equity secured personal loans 517 517 - - - - - - GNMA's buy-back option program 42,243 - - - 6,416 20,729 15,098 - 791,751 563,972 33,131 18,623 13,303 36,166 32,371 94,185 Consumer Credit cards 19,071 18,198 360 139 171 203 - - Overdrafts 307 287 20 - - - - - Unsecured personal lines of credit 2,200 1,970 102 25 38 62 3 - Unsecured personal loans 147,939 144,696 1,822 743 623 55 - - Cash collateral personal loans 17,243 16,920 275 39 9 - - - 186,760 182,071 2,579 946 841 320 3 - Auto and Leasing 575,582 503,588 47,658 16,916 5,196 2,224 - - 1,554,093 1,249,631 83,368 36,485 19,340 38,710 32,374 94,185 Acquired loans (accounted for under ASC 310-20) Consumer Credit cards 41,848 38,419 1,376 654 589 810 - - Personal loans 3,496 3,221 151 47 39 38 - - 45,344 41,640 1,527 701 628 848 - - Auto 184,782 169,064 11,003 3,453 767 495 - - 230,126 210,704 12,530 4,154 1,395 1,343 - - Total $ 1,784,219 $ 1,460,335 $ 95,898 $ 40,639 $ 20,735 $ 40,053 $ 32,374 $ 94,185 |
Allowance for Loan and Lease 34
Allowance for Loan and Lease Losses (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
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 September 30 , 2015 and December 31 , 2014 was as follows : September 30, December 31, 2015 2014 (In thousands) Allowance for loans and lease losses on non-acquired loans: Originated and other loans and leases held for investment: Mortgage $ 17,292 $ 19,679 Commercial 35,524 8,432 Consumer 10,816 9,072 Auto and leasing 16,674 14,255 Unallocated 45 1 Total allowance for originated and other loans and lease losses 80,351 51,439 Acquired loans: Acquired BBVAPR loans: Accounted for under ASC 310-20 (Loans with revolving feature and/or acquired at a premium) Commercial 22 65 Consumer 3,057 1,211 Auto 2,394 3,321 5,473 4,597 Accounted for under ASC 310-30 (Loans acquired with deteriorated credit quality, including those by analogy) Mortgage 473 - Commercial 16,567 13,476 Consumer 84 5 Auto 2,862 - 19,986 13,481 Total allowance for acquired BBVAPR loans and lease losses 105,810 69,517 Acquired Eurobank loans: Loans secured by 1-4 family residential properties 32,685 15,522 Commercial and other construction 57,280 48,334 Consumer 367 389 Total allowance for acquired Eurobank loan and lease losses 90,332 64,245 Total allowance for loan and lease losses $ 196,142 $ 133,762 Allowance for Originated and Other Loan and Lease Losses 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 September 30, 2015 Mortgage Commercial Consumer Auto and Leasing Unallocated Total (In thousands) Allowance for loan and lease losses for originated and other loans: Balance at beginning of period $ 18,076 $ 34,779 $ 10,464 $ 15,064 $ 606 $ 78,989 Charge-offs (1,058) (828) (2,471) (8,510) - (12,867) Recoveries 270 63 186 3,251 - 3,770 Provision (recapture) for originated and other loans and lease losses 4 1,510 2,637 6,869 (561) 10,459 Balance at end of period $ 17,292 $ 35,524 $ 10,816 $ 16,674 $ 45 $ 80,351 Nine-Month Period Ended September 30, 2015 Mortgage Commercial Consumer Auto and Leasing Unallocated Total (In thousands) Allowance for loan and lease losses for originated and other loans: Balance at beginning of period $ 19,679 $ 8,432 $ 9,072 $ 14,255 $ 1 $ 51,439 Charge-offs (3,829) (2,317) (6,456) (24,307) - (36,909) Recoveries 338 372 729 10,060 - 11,499 Provision (recapture) for originated and other loans and lease losses 1,104 29,037 7,471 16,666 44 54,322 Balance at end of period $ 17,292 $ 35,524 $ 10,816 $ 16,674 $ 45 $ 80,351 September 30, 2015 Mortgage Commercial Consumer Auto and Leasing Unallocated Total (In thousands) Allowance for loan and lease losses on originated and other loans: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 8,249 $ 26,809 $ - $ - $ - $ 35,058 Collectively evaluated for impairment 9,043 8,715 10,816 16,674 45 45,293 Total ending allowance balance $ 17,292 $ 35,524 $ 10,816 $ 16,674 $ 45 $ 80,351 Loans: Individually evaluated for impairment $ 90,530 $ 233,114 $ - $ - $ - $ 323,644 Collectively evaluated for impairment 672,106 1,156,239 227,756 647,544 - 2,703,645 Total ending loan balance $ 762,636 $ 1,389,353 $ 227,756 $ 647,544 $ - $ 3,027,289 Quarter Ended September 30, 2014 Mortgage Commercial Consumer Auto and Leasing Unallocated Total (In thousands) Allowance for loan and lease losses for originated and other loans: Balance at beginning of period $ 19,062 $ 12,423 $ 7,887 $ 11,127 $ 139 $ 50,638 Charge-offs (1,563) (1,081) (1,585) (7,393) - (11,622) Recoveries 138 56 66 2,434 - 2,694 Provision (recapture) for originated and other loan and lease losses 1,235 (2,286) 2,341 7,236 43 8,569 Balance at end of period $ 18,872 $ 9,112 $ 8,709 $ 13,404 $ 182 $ 50,279 Nine-Month Period Ended September 30, 2014 Mortgage Commercial Consumer Auto and Leasing Unallocated Total (In thousands) Allowance for loan and lease losses for originated and other loans: Balance at beginning of period $ 19,937 $ 14,897 $ 6,006 $ 7,866 $ 375 $ 49,081 Charge-offs (3,764) (2,043) (3,820) (17,994) - (27,621) Recoveries 374 269 457 6,094 - 7,194 Provision (recapture) for originated and other loan and lease losses 2,325 (4,011) 6,066 17,438 (193) 21,625 Balance at end of period $ 18,872 $ 9,112 $ 8,709 $ 13,404 $ 182 $ 50,279 December 31, 2014 Mortgage Commercial Consumer Auto and Leasing Unallocated Total (In thousands) Allowance for loan and lease losses on originated and other loans: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 8,968 $ 841 $ - $ - $ - $ 9,809 Collectively evaluated for impairment 10,711 7,591 9,072 14,255 1 41,630 Total ending allowance balance $ 19,679 $ 8,432 $ 9,072 $ 14,255 $ 1 $ 51,439 Loans: Individually evaluated for impairment $ 94,185 $ 236,270 $ - $ - $ - $ 330,455 Collectively evaluated for impairment 697,566 1,053,462 186,760 575,582 - 2,513,370 Total ending loan balance $ 791,751 $ 1,289,732 $ 186,760 $ 575,582 $ - $ 2,843,825 Allowance for BBVAPR Acquired Loan Losses Loans a ccounted for under ASC 310- 2 0 (Loans with revolving feature and/or acquired at a premium) T he following table s present the activity in our allowance for loan losses and related recorded investment of the associated loans in our BBVAPR acquired loan portfolio , excluding loans accounted for under ASC 310-30, for the periods indicated Quarter Ended September 30, 2015 Commercial Consumer Auto Unallocated Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Balance at beginning of period $ 54 $ 2,616 $ 2,859 $ - $ 5,529 Charge-offs (22) (1,103) (1,150) - (2,275) Recoveries 7 59 502 - 568 Provision (recapture) for acquired BBVAPR loan and lease losses accounted for under ASC 310-20 (17) 1,485 183 - 1,651 Balance at end of period $ 22 $ 3,057 $ 2,394 $ - $ 5,473 Nine-Month Period Ended September 30, 2015 Commercial Consumer Auto Unallocated Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Balance at beginning of period $ 65 $ 1,211 $ 3,321 $ - $ 4,597 Charge-offs (38) (3,789) (3,454) - (7,281) Recoveries 24 622 1,574 - 2,220 Provision (recapture) for acquired BBVAPR loan and lease losses accounted for under ASC 310-20 (29) 5,013 953 - 5,937 Balance at end of period $ 22 $ 3,057 $ 2,394 $ - $ 5,473 September 30, 2015 Commercial Consumer Auto Unallocated Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Ending allowance balance attributable to loans: Collectively evaluated for impairment $ 22 $ 3,057 $ 2,394 $ - $ 5,473 Total ending allowance balance $ 22 $ 3,057 $ 2,394 $ - $ 5,473 Loans: Individually evaluated for impairment $ 485 $ - $ - $ - $ 485 Collectively evaluated for impairment 7,251 39,774 124,120 - 171,145 Total ending loan balance $ 7,736 $ 39,774 $ 124,120 $ - $ 171,630 Quarter Ended September 30, 2014 Commercial Consumer Auto Unallocated Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Balance at beginning of period $ 464 $ 338 $ 2,642 $ - $ 3,444 Charge-offs (228) (1,432) (1,748) - (3,408) Recoveries 35 139 519 - 693 Provision (recapture) for acquired loan and lease losses accounted for under ASC 310-20 (1) 1,986 1,746 - 3,731 Balance at end of period $ 270 $ 1,031 $ 3,159 $ - $ 4,460 Nine-Month Period Ended September 30, 2014 Commercial Consumer Auto Unallocated Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Balance at beginning of period $ 926 $ - $ 1,428 $ - $ 2,354 Charge-offs (512) (5,442) (4,414) - (10,368) Recoveries 65 363 1,504 - 1,932 Provision (recapture) for acquired loan and lease losses accounted for under ASC 310-20 (209) 6,110 4,641 - 10,542 Balance at end of period $ 270 $ 1,031 $ 3,159 $ - $ 4,460 December 31, 2014 Commercial Consumer Auto Unallocated Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Ending allowance balance attributable to loans: Collectively evaluated for impairment $ 65 $ 1,211 $ 3,321 $ - $ 4,597 Total ending allowance balance $ 65 $ 1,211 $ 3,321 $ - $ 4,597 Loans: Individually evaluated for impairment $ 672 $ - $ - $ - $ 672 Collectively evaluated for impairment 12,003 45,344 184,782 - 242,129 Total ending loan balance $ 12,675 $ 45,344 $ 184,782 $ - $ 242,801 The following table s present the activity in our allowance for loan losses and related recorded investment of the associated loans in our acquired BBVAPR loan portfolio accounted for under ASC 310-30, for the periods indicated : Quarter Ended September 30, 2015 Mortgage Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-30: Balance at beginning of period $ 473 $ 14,940 $ 84 $ 2,862 $ 18,359 Provision (recapture) for acquired BBVAPR loans and lease losses accounted for under ASC 310-30 - 5,979 - - 5,979 Loan pools fully charged-off - (4,352) - - (4,352) Balance at end of period $ 473 $ 16,567 $ 84 $ 2,862 $ 19,986 Nine-Month Period Ended September 30, 2015 Mortgage Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-30: Balance at beginning of period $ - $ 13,476 $ 5 $ - $ 13,481 Provision (recapture) for acquired BBVAPR loans and lease losses accounted for under ASC 310-30 473 7,443 79 2,862 10,857 Loan pools fully charged-off - (4,352) - - (4,352) Balance at end of period $ 473 $ 16,567 $ 84 $ 2,862 $ 19,986 Quarter Ended September 30, 2014 Mortgage Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-30: Balance at beginning of period $ - $ 6,216 $ 62 $ - $ 6,278 Provision (recapture) for acquired BBVAPR loans and lease losses accounted for under ASC 310-30 - 3,899 (57) - 3,842 Balance at end of period $ - $ 10,115 $ 5 $ - $ 10,120 Nine-Month Period Ended September 30, 2014 Mortgage Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-30: Balance at beginning of period $ - $ 1,713 $ 418 $ 732 $ 2,863 Provision (recapture) for acquired BBVAPR loans and lease losses accounted for under ASC 310-30 - 8,402 (413) (732) 7,257 Balance at end of period $ - $ 10,115 $ 5 $ - $ 10,120 The changes in the allowance for loan and lease losses on acquired Eurobank loans for the quarters and nine-month periods ended September 30 , 2015 and 2014 were as follows: Quarter Ended September 30, 2015 Loans Secured by 1-4 Family Residential Properties Commercial Consumer Leasing Total (In thousands) Allowance for loan and lease losses for acquired Eurobank loans: Balance at beginning of period $ 17,593 $ 53,470 $ 389 $ - $ 71,452 Provision for acquired Eurobank loans and lease losses, net 15,813 17,398 279 - 33,490 Loan pools fully charged-off (721) (13,588) (301) - (14,610) Balance at end of period $ 32,685 $ 57,280 $ 367 $ - $ 90,332 Nine-Month Period Ended September 30, 2015 Loans Secured by 1-4 Family Residential Properties Commercial Consumer Leasing Total (In thousands) Allowance for loan and lease losses for acquired Eurobank loans: Balance at beginning of period $ 15,522 $ 48,334 $ 389 $ - $ 64,245 Provision for acquired Eurobank loans and lease losses, net 17,779 $ 20,136 279 - 38,194 Loan pools fully charged-off (721) (13,588) (301) - (14,610) FDIC shared-loss portion of provision for loan and lease losses, net 105 2,398 - - 2,503 Balance at end of period $ 32,685 $ 57,280 $ 367 $ - $ 90,332 |
FDIC Indemnification and True-u
FDIC Indemnification and True-up Payment Obligation (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Banking and Thrift [Abstract] | |
FDIC Indemnification Asset and True-Up Payment Obligation Roll Forward | The following table presents the activity in the FDIC indemnification asset and true-up payment obligation for the quarters and nine-month periods ended September 30 , 2015 and 2014 : Quarter Ended September 30, Nine-Month Period Ended September 30, 2015 2014 2015 2014 (In thousands) FDIC indemnification asset: Balance at beginning of period $ 22,704 $ 143,660 $ 97,378 $ 189,240 Shared-loss agreements reimbursements from the FDIC - (12,837) (17,171) (31,537) Shared-loss agreements reimbursements expected from the FDIC - - (20,917) - Increase (decrease) in expected credit losses to be covered under shared-loss agreements, net - 1,597 2,503 5,159 FDIC indemnification asset expense (1,215) (16,059) (35,948) (51,180) Incurred expenses to be reimbursed under shared-loss agreements 1,406 4,258 (2,950) 8,937 Balance at end of period $ 22,895 $ 120,619 $ 22,895 $ 120,619 True-up payment obligation: Balance at beginning of period $ 23,577 $ 20,231 $ 21,981 $ 18,510 Change in true-up payment obligation 864 875 2,460 2,596 Balance at end of period $ 24,441 $ 21,106 $ 24,441 $ 21,106 |
Schedule Of Business Acquisitions By Acquisition Contingent Consideration Text Block | September 30, December 31, 2015 2014 (In thousands) Carrying amount (fair value) $ 24,441 $ 21,981 Undiscounted amount $ 33,385 $ 40,266 |
Servicing Assets (Tables)
Servicing Assets (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
TransfersAndServicingOfFinancialAssetsAbstract | |
ScheduleOfServicingAssetsAtFairValueTextBlock | The following table presents the changes in servicing rights measured using the fair value method for the quarters and nine-month periods ended September 30 , 2015 and 2014 : Quarter Ended September 30, Nine-Month Period Ended September 30, 2015 2014 2015 2014 (In thousands) (In thousands) Fair value at beginning of year $ 5,791 $ 13,970 $ 13,992 $ 13,801 Sale of mortgage servicing rights - - (6,985) - Servicing from mortgage securitizations or asset transfers 748 554 2,808 1,608 Changes due to payments on loans (242) (427) (974) (799) Changes in fair value related to price of MSR's held for sale - - (2,716) - Changes in fair value due to changes in valuation model inputs or assumptions 166 (111) 338 (624) Fair value at end of year $ 6,463 $ 13,986 $ 6,463 $ 13,986 |
ScheduleOfAssumptionsForFairValueOnSecuritizationDateOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrServicingLiabilitiesTextBlock | The following table presents key economic assumption ranges used in measuring the mortgage- related servicing asset fair value for nine-month periods ended September 30 , 2015 and 2014 : Nine-Month Period Ended September 30, 2015 2014 Constant prepayment rate 5.49% - 10.58% 5.60% - 10.08% Discount rate 10.00% - 12.00% 10.00% - 12.00% |
ScheduleOfSensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrServicingLiabilitiesTextBlock | The sensitivity of the current fair value of servicing assets to immediate 10 percent and 20 percent adverse changes in the above key assumptions were as follow s : September 30, 2015 (In thousands) Mortgage-related servicing asset Carrying value of mortgage servicing asset $ 6,463 Constant prepayment rate Decrease in fair value due to 10% adverse change $ (183) Decrease in fair value due to 20% adverse change $ (356) Discount rate Decrease in fair value due to 10% adverse change $ (256) Decrease in fair value due to 20% adverse change $ (493) |
Derivative Activities (Tables)
Derivative Activities (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Derivative Instrument Detail [Abstract] | |
Schedule Of Derivative Instruments Text Block | The following table presents the Company’s derivative assets and liabilities at September 30 , 2015 and December 31 , 2014 : September 30, December 31, 2015 2014 (In thousands) Derivative assets: Options tied to S&P 500 Index $ 1,115 $ 5,555 Interest rate swaps not designated as hedges 2,139 2,399 Interest rate caps 36 152 Other - 1 $ 3,290 $ 8,107 Derivative liabilities: Interest rate swaps designated as cash flow hedges 6,395 8,585 Interest rate swaps not designated as hedges 2,139 2,399 Interest rate caps 36 152 Other 52 85 $ 8,622 $ 11,221 The following table shows a summary of these swaps and their terms at September 30 , 2015 : Notional Fixed Variable Trade Settlement Maturity Type Amount Rate Rate Index Date Date Date (In thousands) Interest Rate Swaps $ 25,000 2.4400% 1-Month LIBOR 05/05/11 05/04/12 05/04/16 25,000 2.6200% 1-Month LIBOR 05/05/11 07/24/12 07/24/16 25,000 2.6400% 1-Month LIBOR 05/05/11 07/30/12 07/30/16 50,000 2.6600% 1-Month LIBOR 05/05/11 08/10/12 08/10/16 100,000 2.6800% 1-Month LIBOR 05/05/11 08/16/12 08/16/16 38,322 2.4200% 1-Month LIBOR 07/03/13 07/03/13 08/01/23 $ 263,322 Notional Fixed Variable Settlement Maturity Type Amount Rate Rate Index Date Date (In thousands) Interest Rate Swaps - Derivatives Offered to Clients $ 3,819 5.1300% 1-Month LIBOR 07/03/06 07/03/16 12,500 5.5100% 1-Month LIBOR 04/11/09 04/11/19 $ 16,319 Interest Rate Swaps - Mirror Image Derivatives $ 3,819 5.1300% 1-Month LIBOR 07/03/06 07/03/16 12,500 5.5100% 1-Month LIBOR 04/11/09 04/11/19 $ 16,319 |
Other Assets (Tables)
Other Assets (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Other asset | |
Schedule of Accrued interest receivable [Table Text Block] | September 30, December 31, 2015 2014 (In thousands) Loans, excluding loans accounted for under ASC 310-30 $ 13,953 $ 17,005 Investments 4,672 4,340 $ 18,625 $ 21,345 |
Schedule of Other Assets [Table Text Block] | Other assets at September 30 , 2015 and December 31 , 2014 consist of the following September 30, December 31, 2015 2014 (In thousands) FDIC receivable $ 44,849 $ 14,974 Prepaid expenses 14,151 16,018 Receivable from sale of non-performing loans and foreclosed real estate 12,989 - Other repossessed assets 8,948 21,800 Core deposit and customer relationship intangibles 8,314 9,743 Mortgage tax credits 6,277 6,277 Investment in Statutory Trust 1,083 1,083 Accounts receivable and other assets 44,433 38,830 $ 141,044 $ 108,725 |
Deposits and Related Interest (
Deposits and Related Interest (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Deposits, by Component, Alternative [Abstract] | |
Deposits By Component [Table Text Block] | Total deposits, including related accrued interest payable, as of September 30 , 2015 and December 31 , 2014 consist of the following: September 30, December 31, 2015 2014 (In thousands) Non-interest bearing demand deposits $ 792,110 $ 745,570 Interest-bearing savings and demand deposits 2,330,018 2,544,664 Individual retirement accounts 272,276 302,622 Retail certificates of deposit 456,320 452,150 Institutional certificates of deposit 213,224 260,090 Total core deposits 4,063,948 4,305,096 Brokered deposits 653,126 619,310 Total deposits $ 4,717,074 $ 4,924,406 |
Interest Expense Domestic Deposit Liabilities [Table Text Block] | Interest expense for the quarters and nine-month periods ended September 30 , 2015 and 2014 was as follows : Quarter Ended September 30, Nine-Month Period Ended September 30, 2015 2014 2015 2014 (In thousands) (In thousands) Demand and savings deposits $ 2,987 $ 4,003 $ 9,469 $ 13,834 Certificates of deposit 3,664 3,658 10,890 11,970 $ 6,651 $ 7,661 $ 20,359 $ 25,804 |
Maturities Of Time Deposits [Table Text Block] | Excluding equity indexed options in the amount of $ 1. 0 million, which are used by the Company to manage its exposure to the S&P 500 Index, and also excluding accrued interest of $ 1.1 million and unamortized deposit discount in the amount of $ 381 thousand , the scheduled maturities of certificates of deposit at September 30 , 2015 are as follows: September 30, 2015 (In thousands) Within one year: Three (3) months or less $ 207,581 Over 3 months through 1 year 738,878 946,459 Over 1 through 2 years 396,619 Over 2 through 3 years 113,719 Over 3 through 4 years 13,027 Over 4 through 5 years 47,020 $ 1,516,844 |
Borrowings (Tables)
Borrowings (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Debt Instruments [Abstract] | |
Schedule Of Repurchase Agreement Counterparty [Table Text Block] | At September 30 , 2015 and December 31 , 2014 , securities sold under agreements to repurchase (classified by counterparty), excluding accrued interest in the amount of $ 2.1 million and $ 2.3 million, respectively , were as follows: September 30, December 31, 2015 2014 Fair Value of Fair Value of Borrowing Underlying Borrowing Underlying Balance Collateral Balance Collateral (In thousands) JP Morgan Chase Bank NA 328,532 354,353 307,816 328,198 Credit Suisse Securities (USA) LLC 670,000 745,025 670,000 760,327 Total $ 998,532 $ 1,099,378 $ 977,816 $ 1,088,525 |
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 . 1 million , at September 30 , 2015 : Weighted- Borrowing Average Maturity Year of Maturity Balance Coupon Settlement Date Date (In thousands) 2015 $ 57,400 0.500% 8/20/2015 10/1/2015 31,132 0.470% 9/22/2015 10/22/2015 2016 170,000 1.500% 12/6/2012 12/8/2016 240,000 0.950% 12/10/2012 9/30/2016 2017 500,000 4.780% 3/2/2007 3/2/2017 $ 998,532 2.921% |
Schedule of Repurchase Agreements [Table] | September 30, 2015 Market Value of Underlying Collateral Weighted FNMA and Repurchase Average FHLMC GNMA Liability Rate Certificates Certificates Total (Dollars in thousands) Less than 90 days 88,532 0.49% 95,023 - 95,023 Over 90 days 910,000 3.16% 1,001,926 2,429 1,004,355 Total $ 998,532 2.92% $ 1,096,949 $ 2,429 $ 1,099,378 December 31, 2014 Market Value of Underlying Collateral Weighted FNMA and Repurchase Average FHLMC GNMA Liability Rate Certificates Certificates Total (Dollars in thousands) Less than 90 days $ 52,816 0.39% $ 56,066 $ - $ 56,066 Over 90 days 925,000 2.83% 1,031,206 1,253 1,032,459 Total $ 977,816 2.89% $ 1,087,272 $ 1,253 $ 1,088,525 |
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 $ 343 thousand , at September 30 , 2015 : Weighted- Borrowing Average Maturity Year of Maturity Balance Coupon Settlement Date Date (In thousands) 2015 $ 25,000 0.47% 9/4/2015 10/5/2015 50,000 0.48% 9/10/2015 10/13/2015 100,000 0.53% 9/16/2015 10/16/2015 25,000 0.44% 9/24/2015 10/26/2015 25,000 0.40% 9/30/2015 10/30/2015 38,322 0.41% 9/1/2015 10/1/2015 263,322 2017 4,326 1.24% 4/3/2012 4/3/2017 2018 30,000 2.19% 1/16/2013 1/16/2018 25,000 2.18% 1/16/2013 1/16/2018 55,000 2020 9,945 2.59% 7/19/2013 7/20/2020 $ 332,593 0.83% |
Redemtion Funds [Table Text Block] | Redemption fund (In thousands) Redemption fund - September 30, 2015 $ 60,300 2015 1,675 2016 5,025 $ 67,000 |
Offset of Assets_Liabilities (T
Offset of Assets/Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Offsetting [Abstract] | |
Offsetting Assets [Table Text Block] | September 30, 2015 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 $ 3,290 $ - $ 3,290 $ 2,016 $ - $ 1,274 December 31, 2014 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 $ 8,107 $ - $ 8,107 $ 2,006 $ - $ 6,101 |
Offsetting Liabilities [Table Text Block] | September 30, 2015 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 $ 9,663 $ - $ 9,663 $ - $ 2,980 $ 6,683 Securities sold under agreements to repurchase 998,532 - 998,532 1,099,378 - (100,846) Total $ 1,008,195 $ - $ 1,008,195 $ 1,099,378 $ 2,980 $ (94,163) December 31, 2014 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 $ 16,698 $ - $ 16,698 $ - $ 2,980 $ 13,718 Securities sold under agreements to repurchase 977,816 - 977,816 1,088,525 - (110,709) Total $ 994,514 $ - $ 994,514 $ 1,088,525 $ 2,980 $ (96,991) |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Related Party Transactions [Abstract] | |
Schedule of Related Party Transactions [Table Text Block] | The activity and balance of these loans for the quarters and the nine -month periods ended September 30 , 2015 and 2014 was as follows: Quarter Ended September 30, Nine-Month Period Ended September 30, 2015 2014 2015 2014 (In thousands) (In thousands) Balance at the beginning of period $ 33,318 $ 24,151 $ 27,011 $ 18,963 New loans and disbursements 5,866 319 13,489 14,166 Repayments (7,450) 1,174 (8,766) (7,485) Balance at the end of period $ 31,734 $ 25,644 $ 31,734 $ 25,644 |
Regulatory Capital Requiremen43
Regulatory Capital Requirements (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Regulatory Capital Requirements Abstract | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | The Company ’s and the Bank’s actual capital a mounts and ratios as of September 30 , 2015 and December 31 , 2014 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 September 30, 2015 Total capital to risk-weighted assets $ 847,167 16.96% $ 399,615 8.00% $ 499,519 10.00% Tier 1 capital to risk-weighted assets $ 782,560 15.67% $ 299,711 6.00% $ 399,615 8.00% Common equity tier 1 capital to risk-weighted assets $ 601,788 12.05% $ 224,783 4.50% $ 324,687 6.50% Tier 1 capital to average total assets $ 782,560 10.93% $ 286,493 4.00% $ 358,117 5.00% As of December 31, 2014 Total capital to risk-weighted assets $ 851,437 17.57% $ 387,772 8.00% $ 484,715 10.00% Tier 1 capital to risk-weighted assets $ 776,525 16.02% $ 193,886 4.00% $ 290,829 6.00% Tier 1 capital to average total assets $ 776,525 10.61% $ 292,738 4.00% $ 365,922 5.00% Minimum Capital Minimum to be Well Actual Requirement Capitalized Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Bank Ratios As of September 30, 2015 Total capital to risk-weighted assets $ 811,297 16.28% $ 398,677 8.00% $ 498,346 10.00% Tier 1 capital to risk-weighted assets $ 746,921 14.99% $ 299,008 6.00% $ 398,677 8.00% Common equity tier 1 capital to risk-weighted assets $ 746,921 14.99% $ 224,256 4.50% $ 323,925 6.50% Tier 1 capital to average total assets $ 746,921 10.50% $ 284,481 4.00% $ 355,601 5.00% As of December 31, 2014 Total capital to risk-weighted assets $ 820,884 16.99% $ 386,444 8.00% $ 483,055 10.00% Tier 1 capital to risk-weighted assets $ 746,177 15.45% $ 193,222 4.00% $ 289,833 6.00% Tier 1 capital to average total assets $ 746,177 10.26% $ 290,879 4.00% $ 363,599 5.00% |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Stockholders' Equity [Abstract] | |
Schedule of Treasury Stock by Class [Table Text Block] | The activity in connection with common shares held in treasury by the Company for the nine-month periods ended September 30 , 2015 and 2014 is set forth below Nine-Month Period Ended September 30, 2015 2014 Dollar Dollar Shares Amount Shares Amount (In thousands, except shares data) Beginning of period 8,012,254 $ 97,070 7,030,101 $ 80,642 Common shares used upon lapse of restricted stock units (58,279) (641) (36,294) (384) Common shares repurchased as part of the stock repurchase program 803,985 8,950 707,500 10,394 End of period 8,757,960 $ 105,379 7,701,307 $ 90,652 |
Accumulated Other Comprehensi45
Accumulated Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block Abstract | |
Schedule of Accumulated Other Comprehensive Income (Loss) | Accumulated other comprehensive income, net of income tax, as of September 30 , 2015 and December 31 , 2014 consisted of: September 30, December 31, 2015 2014 (In thousands) Unrealized gain on securities available-for-sale which are not other-than-temporarily impaired $ 25,173 $ 28,743 Unrealized loss on securities available-for-sale which are other-than-temporarily impaired (338) - Income tax effect of unrealized gain on securities available-for-sale (2,349) (2,978) Net unrealized gain on securities available-for-sale which are not other-than-temporarily impaired 22,486 25,765 Unrealized loss on cash flow hedges (6,395) (8,585) Income tax effect of unrealized loss on cash flow hedges 2,065 2,531 Net unrealized loss on cash flow hedges (4,330) (6,054) Accumulated other comprehensive income, net of taxes $ 18,156 $ 19,711 The following table presents changes in accumulated other comprehensive income by component, net of taxes, for the quarters and nine-month periods ended September 30 , 2015 and 2014 : Quarter Ended September 30, 2015 2014 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) Beginning balance $ 18,832 $ (4,531) $ 14,301 $ 29,759 $ (8,004) $ 21,755 Other comprehensive income (loss) before reclassifications 3,175 (1,346) 1,829 (9,452) (559) (10,011) Other-than-temporary impairment amount reclassified from accumulated other comprehensive income 584 - 584 - - - Amounts reclassified out of accumulated other comprehensive income (loss) (105) 1,547 1,442 11 1,656 1,667 Other comprehensive income 3,654 201 3,855 (9,441) 1,097 (8,344) Ending balance $ 22,486 $ (4,330) $ 18,156 $ 20,318 $ (6,907) $ 13,411 Nine-Month Period Ended September 30, 2015 2014 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) Beginning balance $ 25,765 $ (6,054) $ 19,711 $ 11,433 $ (8,242) $ 3,191 Other comprehensive income before reclassifications (4,037) (2,894) (6,931) 8,727 (3,584) 5,143 Other-than-temporary impairment amount reclassified from accumulated other comprehensive income 584 - 584 - - - Amounts reclassified out of accumulated other comprehensive income 174 4,618 4,792 158 4,919 5,077 Other comprehensive income (loss) (3,279) 1,724 (1,555) 8,885 1,335 10,220 Ending balance $ 22,486 $ (4,330) $ 18,156 20,318 $ (6,907) $ 13,411 |
Reclassification out of Accumulated Other Comprehensive Income [Table text block] | The following table presents reclassifications out of accumulated other comprehensive income for the quarters and nine-month periods ended September 30 , 2015 and 2014 : Amount reclassified out of accumulated other comprehensive income Affected Line Item in Quarter Ended September 30, Consolidated Statement 2015 2014 of Operations (In thousands) Cash flow hedges: Interest-rate contracts $ 1,622 $ 1,656 Net interest expense Tax effect from increase in capital gains tax rate (75) - Income tax expense Available-for-sale securities: Other-than-temporary impairment losses on investment securities (246) - Net impairment losses recognized in earnings Residual tax effect from OIB's change in applicable tax rate 11 11 Income tax expense Tax effect from increase in capital gains tax rate 130 - Income tax expense $ 1,442 $ 1,667 Amount reclassified out of accumulated other comprehensive income Affected Line Item in Nine-Month Period Ended September 30, Consolidated Statement 2015 2014 of Operations (In thousands) Cash flow hedges: Interest-rate contracts $ 4,842 $ 4,919 Net interest expense Tax effect from increase in capital gains tax rate (224) - Income tax expense Available-for-sale securities: Other-than-temporary impairment losses on investment securities (246) - Net impairment losses recognized in earnings Residual tax effect from OIB's change in applicable tax rate 33 158 Income tax expense Tax effect from increase in capital gains tax rate 387 - Income tax expense $ 4,792 $ 5,077 |
Earning Per Common Share (Table
Earning Per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | The calculation of (loss) earnings per common share for the quarters and nine-m onth p eriod s ended September 30 , 2015 and 2014 is as follows: Quarter Ended September 30, Nine-Month Period Ended September 30, 2015 2014 2015 2014 (In thousands, except per share data) Net income (loss) $ 4,569 $ 19,532 $ (1,528) $ 64,588 Less: Dividends on preferred stock Non-convertible preferred stock (Series A, B, and D) (1,627) (1,627) (4,884) (4,882) Convertible preferred stock (Series C) (1,838) (1,838) (5,512) (5,514) Income (loss) available to common shareholders $ 1,104 $ 16,067 $ (11,924) $ 54,192 Effect of assumed conversion of the convertible ' ' preferred stock 1,838 1,838 5,512 5,514 Income (loss) available to common shareholders assuming conversion $ 2,942 $ 17,905 $ (6,412) $ 59,706 Weighted average common shares and share equivalents: Average common shares outstanding 43,929 45,055 44,353 45,131 Effect of dilutive securities: Average potential common shares-options 46 160 85 162 Average potential common shares-assuming ' ' conversion of convertible preferred stock 7,171 7,147 7,171 7,147 Total weighted average common shares ' ' outstanding and equivalents 51,146 52,362 51,609 52,440 Earnings (loss) per common share - basic $ 0.03 $ 0.36 $ (0.27) $ 1.20 Earnings (loss) per common share - diluted $ 0.03 $ 0.34 $ (0.27) $ 1.14 |
Guarantees (Tables)
Guarantees (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Guarantees [Abstract] | |
Schedule Of Guarantee Obligations Text Block | The following table shows the changes in the Company’s liability for estimated losses from these credit recourse agreements, inc luded in the unaudited consolidated statements of financial condi tion during the quarters and nine-month periods ended September 30 , 2015 and 2014 . Quarter Ended September 30, Nine-Month Period Ended September 30, 2015 2014 2015 2014 (In thousands) Balance at beginning of period $ 289 $ 1,310 $ 927 $ 1,955 Net (charge-offs/terminations) recoveries 140 (232) (498) (877) Balance at end of period $ 429 $ 1,078 $ 429 $ 1,078 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Commitments and Contingencies [Abstract] | |
Schedule Of Line Of Credit Facilities Text Block | C redit-related f inancial instruments at September 30 , 2015 and December 31 , 2014 were as follows: September 30, December 31, 2015 2014 (In thousands) Commitments to extend credit $ 432,006 $ 493,248 Commercial letters of credit 1,443 885 The summary of instruments that are considered financial guarantees in accordance with the authoritative guidance related to g uarantor’s accounting and disclosure requirement s for guarantees, including indirect guarantees of indebtedness of others , at September 30 , 2015 and December 31 , 2014 , is as follows: September 30, December 31, 2015 2014 (In thousands) Standby letters of credit and financial guarantees $ 15,007 $ 32,970 Loans sold with recourse 24,996 67,803 Commitments to sell or securitize mortgage loans 61,597 10,207 |
Contractual Obligation Fiscal Year Maturity Schedule [Table Text Block] | Minimum Rent Year Ending December 31, (In thousands) 2015 $ 2,832 2016 7,697 2017 7,081 2018 6,066 2019 5,829 Thereafter 16,637 $ 46,142 |
Fair Value (Tables)
Fair Value (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
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 , are summarized below: September 30, 2015 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ - $ 1,007,705 $ - $ 1,007,705 Money market investments 4,736 - - 4,736 Derivative assets - 2,175 1,115 3,290 Servicing assets - - 6,463 6,463 Derivative liabilities - (8,622) (1,041) (9,663) $ 4,736 $ 1,001,258 $ 6,537 $ 1,012,531 Non-recurring fair value measurements: Impaired commercial loans $ - $ - $ 233,598 $ 233,598 Foreclosed real estate - - 64,117 64,117 Other repossessed assets - - 8,948 8,948 $ - $ - $ 306,663 $ 306,663 December 31, 2014 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ - $ 1,216,538 $ - $ 1,216,538 Money market investments 4,675 - - 4,675 Derivative assets - 2,552 5,555 8,107 Servicing assets - - 13,992 13,992 Derivative liabilities - (11,221) (5,477) (16,698) $ 4,675 $ 1,207,869 $ 14,070 $ 1,226,614 Non-recurring fair value measurements: Impaired commercial loans $ - $ - $ 236,942 $ 236,942 Foreclosed real estate - - 95,661 95,661 Other repossessed assets - - 21,800 21,800 $ - $ - $ 354,403 $ 354,403 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 and nine -month periods ended September 30 , 2015 and 2014 : Quarter Ended September 30, 2015 Derivative Derivative asset liability (S&P (S&P Purchased Servicing Embedded Level 3 Instruments Only Options) assets Options) Total Balance at beginning of period $ 2,138 $ 5,791 $ (2,044) $ 5,885 (Losses) gains included in earnings (1,023) - 972 (51) New instruments acquired - 748 - 748 Changes due to payments on loans - (242) - (242) Amortization - - 31 31 Changes in fair value of servicing assets - 166 - 166 Balance at end of period $ 1,115 $ 6,463 $ (1,041) $ 6,537 Nine-Month Period Ended September 30, 2015 Derivative Derivative asset liability (S&P (S&P Purchased Servicing Embedded Level 3 Instruments Only Options) assets Options) Total Balance at beginning of period $ 5,555 $ 13,992 $ (5,477) $ 14,070 (Losses) gains included in earnings (4,440) - 4,271 (169) Sale of mortgage servicing rights held-for-sale - (6,985) - (6,985) Changes due to payments on loans - (974) - (974) New instruments acquired - 2,808 - 2,808 Amortization - - 165 165 Changes in fair value related to price of MSRs held for sale - (2,716) - (2,716) Changes in fair value of servicing assets - 338 - 338 Balance at end of period $ 1,115 $ 6,463 $ (1,041) $ 6,537 Quarter Ended September 30, 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 Balance at beginning of period $ - $ 6,580 $ 13,970 $ (6,368) $ 14,182 (Losses) gains included in earnings - (818) - 675 (143) New instruments acquired - - 554 - 554 Principal repayments - - (427) - (427) Amortization - - - 105 105 Changes in fair value of servicing assets - - (111) - (111) Balance at end of period $ - $ 5,762 $ 13,986 $ (5,588) $ 14,160 Nine-Month Period Ended September 30, 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 Balance at beginning of period $ 19,680 $ 16,430 $ 13,801 $ (15,736) $ 34,175 Gains (losses) included in earnings - (10,668) - 9,639 (1,029) Changes in fair value of investment securities available for sale included in other comprehensive income 320 - - - 320 New instruments acquired - - 1,608 - 1,608 Principal repayments (20,000) - (799) - (20,799) Amortization - - - 509 509 Changes in fair value of servicing assets - - (624) - (624) Balance at end of period $ - $ 5,762 $ 13,986 $ (5,588) $ 14,160 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Table Text Block] | The table below presents quantitative information for all assets and liabilities measured at fair value on a recurring and non-recurring basis using significant unobservable inputs (Level 3) at September 30, 2015 Fair Value Valuation Technique Unobservable Input Range (In thousands) Derivative assets (S&P Purchased Options) $ 1,115 Option pricing model Implied option volatility 32.29%- 35.32% Counterparty credit risk (based on 5-year credit default swap ("CDS") spread) 79.96%- 89.03% Servicing assets $ 6,463 Cash flow valuation Constant prepayment rate 5.49% - 10.00% Discount rate 10.58% - 12.00% Derivative liability (S&P Embedded Options) $ (1,041) Option pricing model Implied option volatility 32.29%- 35.32% Counterparty credit risk (based on 5-year CDS spread) 79.96%- 89.03% Collateral dependant impaired loans $ 34,906 Fair value of property or collateral Appraised value less disposition costs 23.20% - 29.20% Puerto Rico Electric Power Authority line of credit $ 174,183 Cash flow valuation Discount rate 7.25% Other non-collateral dependant impaired loans $ 4,788 Cash flow valuation Discount rate 5.75% - 16.95% Foreclosed real estate $ 64,117 Fair value of property or collateral Appraised value less disposition costs 23.20% - 29.20% Other repossessed assets $ 8,948 Fair value of property or collateral Appraised value less disposition costs 23.20% - 29.20% |
Fair Value By Balance Sheet Grouping [Text Block] | The estimated fair value and carrying value of the Company ’s financial instruments at September 30 , 2015 and December 31 , 2014 is as follows: September 30, December 31, 2015 2014 Fair Carrying Fair Carrying Value Value Value Value (In thousands) Level 1 Financial Assets: Cash and cash equivalents $ 526,196 $ 526,196 $ 573,427 $ 573,427 Restricted cash 4,349 4,349 8,407 8,407 Level 2 Financial Assets: Trading securities 583 583 1,594 1,594 Investment securities available-for-sale 1,007,705 1,007,705 1,216,538 1,216,538 Investment securities held-to-maturity 595,148 594,639 164,154 162,752 Federal Home Loan Bank (FHLB) stock 20,804 20,804 21,169 21,169 Other investments 3 3 3 3 Derivative assets 2,175 2,175 2,552 2,552 Financial Liabilities: Derivative liabilities 8,622 8,622 11,221 11,221 Level 3 Financial Assets: Total loans (including loans held-for-sale) 4,408,998 4,468,676 4,909,361 4,826,646 Derivative assets 1,115 1,115 5,555 5,555 FDIC indemnification asset 14,151 22,895 75,969 97,378 Accrued interest receivable 18,625 18,625 21,345 21,345 Servicing assets 6,463 6,463 13,992 13,992 Financial Liabilities: Deposits 4,714,106 4,717,074 4,893,247 4,924,406 Securities sold under agreements to repurchase 1,029,439 1,000,664 1,020,621 980,087 Advances from FHLB 336,859 332,936 339,172 334,331 Other borrowings 1,842 1,734 3,979 4,004 Subordinated capital notes 94,127 102,371 104,288 101,584 Accrued expenses and other liabilities 113,450 113,450 133,290 133,290 Derivative liabilities 1,041 1,041 5,477 5,477 |
Business Segments (Tables)
Business Segments (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Following are the results of operations and the selected financial informatio n by operating segment for the quarters and nine-month periods ended September 30 , 2015 and 2014 : Quarter Ended September 30, 2015 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 97,264 $ 25 $ 9,958 $ 107,247 $ - $ 107,247 Interest expense (7,036) - (10,388) (17,424) - (17,424) Net interest income 90,228 25 (430) 89,823 - 89,823 Provision for loan and lease losses (51,579) - - (51,579) - (51,579) Non-interest income (loss) 30,098 6,513 (634) 35,977 - 35,977 Non-interest expenses (63,106) (5,063) (921) (69,090) - (69,090) Intersegment revenue 351 - 69 420 (420) - Intersegment expenses (69) (252) (99) (420) 420 - Income before income taxes $ 5,923 $ 1,223 $ (2,015) $ 5,131 $ - $ 5,131 Total assets $ 5,990,125 $ 20,594 $ 2,117,569 $ 8,128,288 (924,466) $ 7,203,822 Quarter Ended September 30, 2014 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 108,548 $ 44 $ 11,709 $ 120,301 $ - $ 120,301 Interest expense (7,892) - (10,538) (18,430) - (18,430) Net interest income 100,656 44 1,171 101,871 - 101,871 Provision for loan and lease losses (17,257) - - (17,257) - (17,257) Non-interest income (loss) (3,242) 6,208 (475) 2,491 - 2,491 Non-interest expenses (53,669) (4,483) (1,423) (59,575) - (59,575) Intersegment revenue 431 - 290 721 (721) - Intersegment expenses (290) (330) (101) (721) 721 - Income before income taxes $ 26,629 $ 1,439 $ (538) $ 27,530 $ - $ 27,530 Total assets $ 6,494,141 $ 26,800 $ 2,098,341 $ 8,619,282 (945,943) $ 7,673,339 Nine-Month Period Ended September 30, 2015 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 285,251 $ 71 $ 28,339 $ 313,661 $ - $ 313,661 Interest expense (21,600) - (30,311) (51,911) - (51,911) Net interest income 263,651 71 (1,972) 261,750 - 261,750 Provision for loan and lease losses (109,311) - - (109,311) - (109,311) Non-interest income(loss) 16,136 20,416 1,650 38,202 - 38,202 Non-interest expenses (169,264) (16,586) (4,009) (189,859) - (189,859) Intersegment revenue 1,058 - 228 1,286 (1,286) - Intersegment expenses (228) (770) (288) (1,286) 1,286 - Income before income taxes $ 2,042 $ 3,131 $ (4,391) $ 782 $ - $ 782 Nine-Month Period Ended September 30, 2014 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 330,148 $ 132 $ 38,995 $ 369,275 $ - $ 369,275 Interest expense (26,235) - (31,693) (57,928) - (57,928) Net interest income 303,913 132 7,302 311,347 - 311,347 Provision for loan and lease losses (43,763) - - (43,763) - (43,763) Non-interest income(loss) (14,845) 20,232 2,840 8,227 - 8,227 Non-interest expenses (156,867) (15,629) (8,331) (180,827) - (180,827) Intersegment revenue 1,410 - 290 1,700 (1,700) - Intersegment expenses (290) (1,089) (321) (1,700) 1,700 - Income (loss) before income taxes $ 89,558 $ 3,646 $ 1,780 $ 94,984 $ - $ 94,984 |
Restricted Cash (Narrative) (De
Restricted Cash (Narrative) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Restricted Cash And Investments Abstract | ||
Certificates Of Deposits Oriental International Banking and Oriental Overseas | $ 300 | $ 300 |
Reserve required by local Goverment | $ 148,900 | $ 141,500 |
Restricted Cash (Composition) (
Restricted Cash (Composition) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Restricted Cash And Cash Equivalents Items Line Items | ||
Deposit pledged as collateral | $ 4,349 | $ 8,407 |
Derivatives | ||
Restricted Cash And Cash Equivalents Items Line Items | ||
Deposit pledged as collateral | 2,980 | 2,980 |
Obligations under agreements of loans sold with recourse | ||
Restricted Cash And Cash Equivalents Items Line Items | ||
Deposit pledged as collateral | $ 1,369 | $ 5,427 |
Investment Securities (Narrativ
Investment Securities (Narrative) (Details) $ in Millions | Sep. 30, 2015USD ($) |
Investments, Debt and Equity Securities [Abstract] | |
Investments Guaranteed by US Treasury and Sponsored Agencies in Unrealized Loss on Position | $ 501.1 |
Investments Guaranteed by Puerto Rico Government and its Political Subdivisions in Unrealized Loss On Position | $ 19 |
Investments Guaranteed By Us Treasury And Sponsored Agencies in Unrealized Loss Position Percentage To Total Investment in Unrealized Loss Position | 96.00% |
Investments Guaranteed By Puerto Rico Government and Its Political Subdivisions in Unrealized Loss Position Percentage To Total Investment in Unrealized Loss Position | 4.00% |
Minimum Government Bond Probability of Default | 6.40% |
Maximum GovernmentBond Probability Of Default | 47.00% |
Minimum Government Bond Recovery Rate | 53.00% |
Maximum Government Bond Recovery Rate | 93.60% |
Investments Guaranteed By Local Government And Its Political Subdivisions In Unrealized Loss On Position with Default Probability | $ 17.7 |
Investments Guaranteed By Local Government And Its Political Subdivisions In Unrealized Loss On Position with Cumulative Default | $ 1.2 |
Investments Guaranteed By Local Government And Its Political Subdivisions In Unrealized Loss Position with Cumulative Default Probability PercentageToTotal | 93.00% |
Investments Guaranteed By Local Government And Its Political Subdivisions In Unrealized Loss Position With Cumulative Default Percentage to Total | 7.00% |
Government Bond Recovery Rate | 65.00% |
Securitized GNMA pools | $ 27.8 |
Securitized GNMA pool, yield | 3.06% |
Investment Securities (Investme
Investment Securities (Investment securities) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 982,754 | $ 1,187,679 |
Available-for-sale Securities, Gross Unrealized Gains | 31,926 | 38,490 |
Available-for-sale Securities, Gross Unrealized Losses | 6,975 | 9,631 |
Available-for-sale Securities | $ 1,007,705 | $ 1,216,538 |
Available for sale - Weighted Average Yield | 2.86% | 2.96% |
Held-to-maturity, Amortized cost | $ 594,639 | $ 162,752 |
Held to maturity Securities Unrecognized Gains | 2,159 | 1,402 |
Held-to-maturity Securities, Unrecognized Loss | 1,650 | 0 |
Held to maturity Fair Value | $ 595,148 | $ 164,154 |
Held to maturity - Weighted Average Yield | 2.19% | 2.48% |
Total Securities - Amortized Cost | $ 1,577,393 | $ 1,350,431 |
Total Securities Gross Unrealized Gains | 34,085 | 39,892 |
Total Securities Gross Unrealized Losses | 8,625 | 9,631 |
Total Securities Fair Value | $ 1,602,853 | $ 1,380,692 |
Marketable Securities Weighted Average Yield | 2.61% | 2.90% |
Collateralized Mortgage Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 955,602 | $ 1,156,455 |
Available-for-sale Securities, Gross Unrealized Gains | 31,733 | 38,300 |
Available-for-sale Securities, Gross Unrealized Losses | 1,781 | 4,364 |
Available-for-sale Securities | $ 985,554 | $ 1,190,391 |
Available for sale - Weighted Average Yield | 2.81% | 2.92% |
Held-to-maturity, Amortized cost | $ 569,599 | |
Held to maturity Securities Unrecognized Gains | 2,146 | |
Held-to-maturity Securities, Unrecognized Loss | 1,650 | |
Held to maturity Fair Value | $ 570,095 | |
Held to maturity - Weighted Average Yield | 2.26% | |
Collateralized Mortgage Backed Securities [Member] | FNMA and FHLMC [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 777,412 | $ 972,836 |
Available-for-sale Securities, Gross Unrealized Gains | 30,486 | 37,876 |
Available-for-sale Securities, Gross Unrealized Losses | 97 | 1,203 |
Available-for-sale Securities | $ 807,801 | $ 1,009,509 |
Available for sale - Weighted Average Yield | 2.98% | 3.12% |
Held-to-maturity, Amortized cost | $ 569,599 | $ 162,752 |
Held to maturity Securities Unrecognized Gains | 2,146 | 1,402 |
Held-to-maturity Securities, Unrecognized Loss | 1,650 | 0 |
Held to maturity Fair Value | $ 570,095 | $ 164,154 |
Held to maturity - Weighted Average Yield | 2.26% | 2.48% |
Collateralized Mortgage Backed Securities [Member] | GNMA [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 30,854 | $ 4,473 |
Available-for-sale Securities, Gross Unrealized Gains | 1,075 | 288 |
Available-for-sale Securities, Gross Unrealized Losses | 0 | 8 |
Available-for-sale Securities | $ 31,929 | $ 4,753 |
Available for sale - Weighted Average Yield | 3.31% | 4.94% |
Collateralized Mortgage Backed Securities [Member] | CMO's [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 147,336 | $ 179,146 |
Available-for-sale Securities, Gross Unrealized Gains | 172 | 136 |
Available-for-sale Securities, Gross Unrealized Losses | 1,684 | 3,153 |
Available-for-sale Securities | $ 145,824 | $ 176,129 |
Available for sale - Weighted Average Yield | 1.84% | 1.81% |
Securities Investment [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 27,152 | $ 31,224 |
Available-for-sale Securities, Gross Unrealized Gains | 193 | 190 |
Available-for-sale Securities, Gross Unrealized Losses | 5,194 | 5,267 |
Available-for-sale Securities | $ 22,151 | $ 26,147 |
Available for sale - Weighted Average Yield | 4.43% | 4.23% |
Held-to-maturity, Amortized cost | $ 25,040 | |
Held to maturity Securities Unrecognized Gains | 13 | |
Held-to-maturity Securities, Unrecognized Loss | 0 | |
Held to maturity Fair Value | $ 25,053 | |
Held to maturity - Weighted Average Yield | 0.49% | |
Securities Investment [Member] | US Treasury Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Held-to-maturity, Amortized cost | $ 25,040 | |
Held to maturity Securities Unrecognized Gains | 13 | |
Held-to-maturity Securities, Unrecognized Loss | 0 | |
Held to maturity Fair Value | $ 25,053 | |
Held to maturity - Weighted Average Yield | 0.49% | |
Securities Investment [Member] | Obligation of US Government sponsored agencies at loss [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 5,572 | $ 7,148 |
Available-for-sale Securities, Gross Unrealized Gains | 31 | 33 |
Available-for-sale Securities, Gross Unrealized Losses | 0 | 0 |
Available-for-sale Securities | $ 5,603 | $ 7,181 |
Available for sale - Weighted Average Yield | 1.36% | 1.34% |
Securities Investment [Member] | Obligation of Puerto Rico Government and political subdivisions [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 18,987 | $ 20,939 |
Available-for-sale Securities, Gross Unrealized Gains | 0 | 0 |
Available-for-sale Securities, Gross Unrealized Losses | 5,194 | 5,267 |
Available-for-sale Securities | $ 13,793 | $ 15,672 |
Available for sale - Weighted Average Yield | 5.53% | 5.41% |
Securities Investment [Member] | Other Debt Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 2,593 | $ 3,137 |
Available-for-sale Securities, Gross Unrealized Gains | 162 | 157 |
Available-for-sale Securities, Gross Unrealized Losses | 0 | 0 |
Available-for-sale Securities | $ 2,755 | $ 3,294 |
Available for sale - Weighted Average Yield | 2.95% | 2.95% |
Investment Securities (Invest55
Investment Securities (Investment securities by contractual maturity) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 982,754 | $ 1,187,679 |
Available-for-sale Securities | 1,007,705 | 1,216,538 |
Held-to-maturity, Amortized cost | 594,639 | 162,752 |
Held to maturity Fair Value | 595,148 | 164,154 |
Maturities Due From One To Five Years [Member] | ||
Schedule of Investments [Line Items] | ||
Held-to-maturity, Amortized cost | 25,040 | |
Held to maturity Fair Value | 25,053 | |
Collateralized Mortgage Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 955,602 | 1,156,455 |
Available-for-sale Securities | 985,554 | 1,190,391 |
Held-to-maturity, Amortized cost | 569,599 | |
Held to maturity Fair Value | 570,095 | |
Collateralized Mortgage Backed Securities [Member] | FNMA and FHLMC [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 777,412 | 972,836 |
Available-for-sale Securities | 807,801 | 1,009,509 |
Held-to-maturity, Amortized cost | 569,599 | 162,752 |
Held to maturity Fair Value | 570,095 | 164,154 |
Collateralized Mortgage Backed Securities [Member] | GNMA [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 30,854 | 4,473 |
Available-for-sale Securities | 31,929 | 4,753 |
Collateralized Mortgage Backed Securities [Member] | CMO's [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 147,336 | 179,146 |
Available-for-sale Securities | 145,824 | 176,129 |
Collateralized Mortgage Backed Securities [Member] | Maturities Due From Five To Ten Years [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 16,410 | |
Available-for-sale Securities | 16,772 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
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 | 16,410 | |
Available-for-sale Securities | 16,772 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Collateralized Mortgage Backed Securities [Member] | Maturities Due After Ten Years [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 939,192 | |
Available-for-sale Securities | 968,782 | |
Held-to-maturity, Amortized cost | 569,599 | |
Held to maturity Fair Value | 570,095 | |
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 | 761,002 | |
Available-for-sale Securities | 791,029 | |
Held-to-maturity, Amortized cost | 569,599 | |
Held to maturity Fair Value | 570,095 | |
Collateralized Mortgage Backed Securities [Member] | Maturities Due After Ten Years [Member] | GNMA [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 30,854 | |
Available-for-sale Securities | 31,929 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Collateralized Mortgage Backed Securities [Member] | Maturities Due After Ten Years [Member] | CMO's [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 147,336 | |
Available-for-sale Securities | 145,824 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Investment Securities | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 27,152 | 31,224 |
Available-for-sale Securities | 22,151 | 26,147 |
Held-to-maturity, Amortized cost | 25,040 | |
Held to maturity Fair Value | 25,053 | |
Investment Securities | US Treasury Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Held-to-maturity, Amortized cost | 25,040 | |
Held to maturity Fair Value | 25,053 | |
Investment Securities | Obligation of US Government sponsored agencies at loss [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 5,572 | 7,148 |
Available-for-sale Securities | 5,603 | 7,181 |
Investment Securities | Obligation of Puerto Rico Government and political subdivisions [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 18,987 | 20,939 |
Available-for-sale Securities | 13,793 | 15,672 |
Investment Securities | Other Debt Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 2,593 | 3,137 |
Available-for-sale Securities | 2,755 | $ 3,294 |
Investment Securities | Maturities Due From One To Five Years [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 8,766 | |
Available-for-sale Securities | 7,341 | |
Held-to-maturity, Amortized cost | 25,040 | |
Held to maturity Fair Value | 25,053 | |
Investment Securities | Maturities Due From One To Five Years [Member] | US Treasury Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Held-to-maturity, Amortized cost | 25,040 | |
Held to maturity Fair Value | 25,053 | |
Investment Securities | 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 | 8,766 | |
Available-for-sale Securities | 7,341 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Investment Securities | Maturities Due From Five To Ten Years [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 5,572 | |
Available-for-sale Securities | 5,603 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Investment Securities | Maturities Due From Five To Ten Years [Member] | Obligation of US Government sponsored agencies at loss [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 5,572 | |
Available-for-sale Securities | 5,603 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Investment Securities | Maturities Due After Ten Years [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 12,814 | |
Available-for-sale Securities | 9,207 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Investment Securities | 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 | 10,221 | |
Available-for-sale Securities | 6,452 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Investment Securities | Maturities Due After Ten Years [Member] | Other Debt Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 2,593 | |
Available-for-sale Securities | 2,755 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | $ 0 |
Investment Securities (Gross re
Investment Securities (Gross realize gains and losses by category) (Details) - Collateralized Mortgage Backed Securities [Member] - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Schedule of Available-for-sale Securities [Line Items] | ||
Sale Price | $ 103,831 | $ 189,249 |
Book Value | 101,259 | 184,883 |
Available-for-sale Securities, Gross Realized Gains | 2,572 | 4,366 |
Available-for-sale Securities, Gross Realized Losses | 0 | 0 |
FNMA and FHLMC [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Sale Price | 40,307 | 115,158 |
Book Value | 37,736 | 110,792 |
Available-for-sale Securities, Gross Realized Gains | 2,571 | 4,366 |
Available-for-sale Securities, Gross Realized Losses | 0 | 0 |
GNMA [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Sale Price | 63,524 | 74,091 |
Book Value | 63,523 | 74,091 |
Available-for-sale Securities, Gross Realized Gains | 1 | 0 |
Available-for-sale Securities, Gross Realized Losses | $ 0 | $ 0 |
Investment Securities (Gains an
Investment Securities (Gains and losses by category) (Details) $ in Thousands | Dec. 31, 2014USD ($) |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | |
Total Available for Sale Amortization cost | $ 357,228 |
Total Available for Sale Unrealized Loss | 9,631 |
Total Available for Sale Fair Value | 347,597 |
12 months or more | |
Available for sale - Amortized cost | 278,320 |
Available for sale - Unrealized Loss | 9,533 |
Available-for-sale, Fair Value | 268,787 |
Less than 12 months | |
Available for sale - Amortized cost | 78,908 |
Available for sale - Unrealized Loss | 98 |
Available for sale - Fair Value | 78,810 |
CMO's issued by us government sponsored agenciesat loss | |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | |
Total Available for Sale Amortization cost | 159,100 |
Total Available for Sale Unrealized Loss | 3,153 |
Total Available for Sale Fair Value | 155,947 |
12 months or more | |
Available for sale - Amortized cost | 143,928 |
Available for sale - Unrealized Loss | 3,086 |
Available-for-sale, Fair Value | 140,842 |
Less than 12 months | |
Available for sale - Amortized cost | 15,172 |
Available for sale - Unrealized Loss | 67 |
Available for sale - Fair Value | 15,105 |
Obligation of Puerto Rico Government and political subdivisions [Member] | |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | |
Total Available for Sale Amortization cost | 20,939 |
Total Available for Sale Unrealized Loss | 5,267 |
Total Available for Sale Fair Value | 15,672 |
12 months or more | |
Available for sale - Amortized cost | 20,939 |
Available for sale - Unrealized Loss | 5,267 |
Available-for-sale, Fair Value | 15,672 |
FNMA and FHLMC [Member] | |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | |
Total Available for Sale Amortization cost | 177,112 |
Total Available for Sale Unrealized Loss | 1,203 |
Total Available for Sale Fair Value | 175,909 |
12 months or more | |
Available for sale - Amortized cost | 113,376 |
Available for sale - Unrealized Loss | 1,172 |
Available-for-sale, Fair Value | 112,204 |
Less than 12 months | |
Available for sale - Amortized cost | 63,736 |
Available for sale - Unrealized Loss | 31 |
Available for sale - Fair Value | 63,705 |
Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | |
Total Available for Sale Amortization cost | 77 |
Total Available for Sale Unrealized Loss | 8 |
Total Available for Sale Fair Value | 69 |
12 months or more | |
Available for sale - Amortized cost | 77 |
Available for sale - Unrealized Loss | 8 |
Available-for-sale, Fair Value | $ 69 |
Investment Securities (Other-th
Investment Securities (Other-than-temporarily Impaired Securities) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Other Than Temporary Impairment Credit Losses Recognized In Earnings Roll Forward | ||||
Begging Balance | $ 0 | |||
Additions from credit losses recognized on available-for-sale securities that had no previous impairment losses | $ 246 | $ 0 | 246 | $ 0 |
Ending Balance | $ 246 | $ 246 |
Loans Receivable (Narratives) (
Loans Receivable (Narratives) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2015 | Mar. 31, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Accounts Notes And Loans Receivable Line Items | ||||||
Covered non-performing commercial loans sold, principal balance | $ 197,100 | $ 197,100 | ||||
Covered non-performing commercial loans sold, carrying value | 100,000 | 100,000 | ||||
Covered non-performing commercial loans sold, sales price | 36,300 | 36,300 | ||||
Reimbursement from FDIC shared-loss coverage in sale of loans | 20,000 | $ 0 | 20,000 | $ 0 | ||
Additional provision related to covered non-performing commercial loans sold | 32,900 | |||||
Cost recoveries associated with covered non-performing commercial loans sold | 4,600 | |||||
Acquired but non-covered non-performing commercial and real estate loans sold, principal balance | 38,100 | 38,100 | ||||
Acquired but non-covered non-performing commercial and real estate loans sold, carrying value | 9,900 | 9,900 | ||||
Acquired but non-covered non-performing commercial and real estate loans sold, sale price | 5,200 | 5,200 | ||||
Additional provision related to acquired but non-covered non-performing commercial loans sold | 5,200 | |||||
Cost recoveries associated with acquired but non-covered non-performing commercial loans sold | 2,400 | |||||
Real Estate Owned Sold, Carrying Amount | 11,000 | 11,000 | ||||
Real Estate Owned Sold, Sale Price | 1,700 | 1,700 | ||||
Account Receivable Related to Non-Performing Loans Sold | 12,989 | 12,989 | $ 0 | |||
Financing Receivable Modifications Recorded Investment Not Included In Non Accrual | 91,200 | 91,200 | 274,400 | |||
Originated Loans Granted To Puerto Rico Government | 338,300 | 338,300 | 450,200 | |||
Acquired Loans Under ASC 310-30 granted to the Puerto Rico Government | 80,200 | 80,200 | 168,800 | |||
Loans And Leases Receivable Gross Carrying Amount Covered | 92,800 | 92,800 | ||||
Loans And Leases Receivable Net Reported Amount Covered | 60,100 | 60,100 | 298,900 | |||
Line Of Credit Facility Maximum Borrowing Capacity to Puerto Rico Government | 418,500 | 418,500 | 619,000 | |||
Credit Facilities Granted to the Puerto Rico Public Corporation | 215,600 | 215,600 | ||||
Unpaid principal balance of the revolving line of credit granted to the Government of Puerto Rico | 193,900 | 193,900 | $ 200,000 | |||
Provision for Local Government Line of Credit | $ 24,000 | |||||
Allowance for Local Government Line of Credit | 23,400 | 23,400 | ||||
Puerto Rico Housing Finance Authority credit facilities | $ 20,900 | $ 20,900 |
Loans Receivable (Composition o
Loans Receivable (Composition of loan portfolio) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 4,641,044 | $ 4,941,587 |
Allowance for loan and lease losses | (196,142) | (133,762) |
Loans, net of allowance for loan and lease losses, excluding loans held-for-sale. | 4,444,902 | 4,807,825 |
Deferred loan cost (fees), net | 4,571 | 4,282 |
Loans receivable net of deferred loan cost (fees) | 4,449,473 | 4,812,107 |
Mortgage loans held-for-sale | 19,203 | 14,539 |
Total loans, net | 4,468,676 | 4,826,646 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 171,630 | 242,801 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Commercial Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 7,736 | 12,675 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Consumer Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 39,774 | 45,344 |
Non-Acquired Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 3,027,289 | 2,843,825 |
Allowance for loan and lease losses | (80,351) | (51,439) |
Loans, net of allowance for loan and lease losses, excluding loans held-for-sale. | 2,946,938 | 2,792,386 |
Deferred loan cost (fees), net | 4,571 | 4,282 |
Loans receivable net of deferred loan cost (fees) | 2,951,509 | 2,796,668 |
Total loans, net | 2,951,509 | 2,796,668 |
Non-Acquired Loan [Member] | Mortgage Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 762,636 | 791,751 |
Allowance for loan and lease losses | (17,292) | (19,679) |
Non-Acquired Loan [Member] | Commercial Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 1,389,353 | 1,289,732 |
Allowance for loan and lease losses | (35,524) | (8,432) |
Non-Acquired Loan [Member] | Consumer Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 227,756 | 186,760 |
Allowance for loan and lease losses | (10,816) | (9,072) |
Non-Acquired Loan [Member] | Auto and Leasing [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 647,544 | 575,582 |
Allowance for loan and lease losses | (16,674) | (14,255) |
Acquired loans [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 1,497,964 | 2,015,439 |
Allowance for loan and lease losses | (105,810) | (69,517) |
Acquired loans [Member] | Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 171,630 | 242,801 |
Allowance for loan and lease losses | (5,473) | (4,597) |
Loans, net of allowance for loan and lease losses, excluding loans held-for-sale. | 166,157 | 238,204 |
Loans receivable net of deferred loan cost (fees) | 166,157 | 238,204 |
Total loans, net | 166,157 | 238,204 |
Acquired loans [Member] | Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Commercial Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 7,736 | 12,675 |
Allowance for loan and lease losses | (22) | (65) |
Acquired loans [Member] | Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Consumer Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 39,774 | 45,344 |
Allowance for loan and lease losses | (3,057) | (1,211) |
Acquired loans [Member] | Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Auto Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 124,120 | 184,782 |
Allowance for loan and lease losses | (2,394) | (3,321) |
Acquired loans [Member] | Acquired BBVAPR Accounted under ASC 310-30 [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 1,201,956 | 1,491,805 |
Allowance for loan and lease losses | (19,986) | (13,481) |
Loans, net of allowance for loan and lease losses, excluding loans held-for-sale. | 1,181,970 | 1,478,324 |
Loans receivable net of deferred loan cost (fees) | 1,181,970 | 1,478,324 |
Total loans, net | 1,181,970 | 1,478,324 |
Acquired loans [Member] | Acquired BBVAPR Accounted under ASC 310-30 [Member] | Mortgage Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 617,268 | 656,122 |
Allowance for loan and lease losses | (473) | 0 |
Acquired loans [Member] | Acquired BBVAPR Accounted under ASC 310-30 [Member] | Commercial Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 395,637 | 452,201 |
Allowance for loan and lease losses | (16,567) | (13,476) |
Acquired loans [Member] | Acquired BBVAPR Accounted under ASC 310-30 [Member] | Consumer Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 15,072 | 29,888 |
Allowance for loan and lease losses | (84) | (5) |
Acquired loans [Member] | Acquired BBVAPR Accounted under ASC 310-30 [Member] | Auto Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 173,979 | 247,233 |
Allowance for loan and lease losses | (2,862) | 0 |
Acquired loans [Member] | Acquired BBVAPR Accounted under ASC 310-30 [Member] | Construction Loans [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 106,361 |
Acquired loans [Member] | Eurobank Acquired Loans | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 240,169 | 363,156 |
Allowance for loan and lease losses | (90,332) | (64,245) |
Loans, net of allowance for loan and lease losses, excluding loans held-for-sale. | 149,837 | 298,911 |
Loans receivable net of deferred loan cost (fees) | 149,837 | 298,911 |
Total loans, net | 149,837 | 298,911 |
Acquired loans [Member] | Eurobank Acquired Loans | Commercial Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 144,704 | 256,488 |
Acquired loans [Member] | Eurobank Acquired Loans | Consumer Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 2,708 | 4,506 |
Acquired loans [Member] | Eurobank Acquired Loans | Loans secured by 1-4 family residential properties, covered [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 92,757 | $ 102,162 |
Loans Receivable (Aging of reco
Loans Receivable (Aging of recorded investment in gross loans) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | $ 4,641,044 | $ 4,941,587 |
Non-Acquired Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 69,293 | 94,218 |
60 - 89 Days Past Due | 44,972 | 45,366 |
90+ Days Past Due | 99,540 | 116,065 |
Total Past Due | 213,805 | 255,649 |
Current but Non-Accrual Loans | 211,803 | 19,730 |
Current | 2,601,681 | 2,568,446 |
Total Loans | 3,027,289 | 2,843,825 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 4,570 | 3,354 |
Non-Acquired Loan [Member] | Mortgage Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 13,440 | 42,785 |
60 - 89 Days Past Due | 23,935 | 25,886 |
90+ Days Past Due | 73,971 | 98,131 |
Total Past Due | 111,346 | 166,802 |
Current but Non-Accrual Loans | 4,937 | 8,253 |
Current | 646,353 | 616,696 |
Total Loans | 762,636 | 791,751 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 4,570 | 3,354 |
Non-Acquired Loan [Member] | Traditional loan | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 1,680 | 33,109 |
60 - 89 Days Past Due | 16,036 | 18,196 |
90+ Days Past Due | 47,509 | 38,551 |
Total Past Due | 65,225 | 89,856 |
Current but Non-Accrual Loans | 137 | 1,895 |
Current | 557,350 | 527,597 |
Total Loans | 622,712 | 619,348 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 813 | 588 |
Non-Acquired Loan [Member] | Originated Up To The Year 2002 [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 81 | 4,128 |
60 - 89 Days Past Due | 2,270 | 3,157 |
90+ Days Past Due | 3,900 | 4,395 |
Total Past Due | 6,251 | 11,680 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 53,330 | 54,064 |
Total Loans | 59,581 | 65,744 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 73 | 134 |
Non-Acquired Loan [Member] | Originated In The Years 2003 And 2004 [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 364 | 10,484 |
60 - 89 Days Past Due | 4,723 | 4,735 |
90+ Days Past Due | 5,826 | 6,489 |
Total Past Due | 10,913 | 21,708 |
Current but Non-Accrual Loans | 0 | 455 |
Current | 90,950 | 87,506 |
Total Loans | 101,863 | 109,669 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-Acquired Loan [Member] | Originated In The Year 2005 [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 0 | 3,824 |
60 - 89 Days Past Due | 2,525 | 2,205 |
90+ Days Past Due | 3,686 | 4,454 |
Total Past Due | 6,211 | 10,483 |
Current but Non-Accrual Loans | 0 | 131 |
Current | 49,389 | 49,858 |
Total Loans | 55,600 | 60,472 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-Acquired Loan [Member] | Originated In The Year 2006 [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 97 | 5,706 |
60 - 89 Days Past Due | 2,853 | 3,298 |
90+ Days Past Due | 8,133 | 8,667 |
Total Past Due | 11,083 | 17,671 |
Current but Non-Accrual Loans | 137 | 548 |
Current | 69,207 | 67,331 |
Total Loans | 80,427 | 85,550 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 89 |
Non-Acquired Loan [Member] | Originated In The Years 2007 2008 And 2009 [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 539 | 5,283 |
60 - 89 Days Past Due | 2,320 | 1,809 |
90+ Days Past Due | 15,442 | 7,646 |
Total Past Due | 18,301 | 14,738 |
Current but Non-Accrual Loans | 0 | 761 |
Current | 76,017 | 77,990 |
Total Loans | 94,318 | 93,489 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 666 | 0 |
Non-Acquired Loan [Member] | Originated In The Years 2010 2011 2012 2013 [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 599 | 3,394 |
60 - 89 Days Past Due | 1,249 | 2,992 |
90+ Days Past Due | 10,337 | 6,900 |
Total Past Due | 12,185 | 13,286 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 142,346 | 149,030 |
Total Loans | 154,531 | 162,316 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 74 | 365 |
Non-Acquired Loan [Member] | Originated In Years 2014 and 2015 [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 0 | 290 |
60 - 89 Days Past Due | 96 | 0 |
90+ Days Past Due | 185 | 0 |
Total Past Due | 281 | 290 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 76,111 | 41,818 |
Total Loans | 76,392 | 42,108 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-Acquired Loan [Member] | NonTraditional Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 0 | 1,477 |
60 - 89 Days Past Due | 1,918 | 584 |
90+ Days Past Due | 3,468 | 3,223 |
Total Past Due | 5,386 | 5,284 |
Current but Non-Accrual Loans | 14 | 0 |
Current | 26,849 | 30,916 |
Total Loans | 32,249 | 36,200 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-Acquired Loan [Member] | Loss Mitigation Program [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 11,696 | 8,199 |
60 - 89 Days Past Due | 5,981 | 7,106 |
90+ Days Past Due | 16,001 | 14,114 |
Total Past Due | 33,678 | 29,419 |
Current but Non-Accrual Loans | 4,786 | 6,358 |
Current | 61,703 | 57,666 |
Total Loans | 100,167 | 93,443 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 3,757 | 2,766 |
Non-Acquired Loan [Member] | Home equity secured personal loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 64 | 0 |
60 - 89 Days Past Due | 0 | 0 |
90+ Days Past Due | 0 | 0 |
Total Past Due | 64 | 0 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 451 | 517 |
Total Loans | 515 | 517 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-Acquired Loan [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 | 6,993 | 42,243 |
Total Past Due | 6,993 | 42,243 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 0 | 0 |
Total Loans | 6,993 | 42,243 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-Acquired Loan [Member] | Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 990 | 1,196 |
60 - 89 Days Past Due | 688 | 1,618 |
90+ Days Past Due | 15,336 | 9,350 |
Total Past Due | 17,014 | 12,164 |
Current but Non-Accrual Loans | 205,922 | 10,986 |
Current | 1,166,417 | 1,266,582 |
Total Loans | 1,389,353 | 1,289,732 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-Acquired Loan [Member] | Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 516 | 330 |
60 - 89 Days Past Due | 350 | 1,206 |
90+ Days Past Due | 13,434 | 7,671 |
Total Past Due | 14,300 | 9,207 |
Current but Non-Accrual Loans | 9,028 | 9,939 |
Current | 673,831 | 504,497 |
Total Loans | 697,159 | 523,643 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-Acquired Loan [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 but Non-Accrual Loans | 0 | 0 |
Current | 224,110 | 133,076 |
Total Loans | 224,110 | 133,076 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-Acquired Loan [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 but Non-Accrual Loans | 0 | 0 |
Current | 34,342 | 36,611 |
Total Loans | 34,342 | 36,611 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-Acquired Loan [Member] | Middle Market Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 0 | 645 |
90+ Days Past Due | 6,212 | 396 |
Total Past Due | 6,212 | 1,041 |
Current but Non-Accrual Loans | 7,889 | 8,494 |
Current | 193,154 | 154,515 |
Total Loans | 207,255 | 164,050 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-Acquired Loan [Member] | Retail Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 516 | 330 |
60 - 89 Days Past Due | 350 | 561 |
90+ Days Past Due | 7,222 | 7,275 |
Total Past Due | 8,088 | 8,166 |
Current but Non-Accrual Loans | 1,139 | 1,445 |
Current | 202,534 | 166,017 |
Total Loans | 211,761 | 175,628 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-Acquired Loan [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 but Non-Accrual Loans | 0 | 0 |
Current | 2,925 | 1,650 |
Total Loans | 2,925 | 1,650 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-Acquired Loan [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 but Non-Accrual Loans | 0 | 0 |
Current | 16,766 | 12,628 |
Total Loans | 16,766 | 12,628 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-Acquired Loan [Member] | Other Commercial and Industrial[Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 474 | 866 |
60 - 89 Days Past Due | 338 | 412 |
90+ Days Past Due | 1,902 | 1,679 |
Total Past Due | 2,714 | 2,957 |
Current but Non-Accrual Loans | 196,894 | 1,047 |
Current | 492,586 | 762,085 |
Total Loans | 692,194 | 766,089 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-Acquired Loan [Member] | Corporate Other Commercial [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 but Non-Accrual Loans | 0 | 0 |
Current | 71,714 | 63,746 |
Total Loans | 71,714 | 63,746 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-Acquired Loan [Member] | Institutional Other Commercial [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 but Non-Accrual Loans | 193,904 | 0 |
Current | 189,882 | 478,935 |
Total Loans | 383,786 | 478,935 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-Acquired Loan [Member] | Middle Market Other Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 20 | 0 |
60 - 89 Days Past Due | 0 | 0 |
90+ Days Past Due | 223 | 618 |
Total Past Due | 243 | 618 |
Current but Non-Accrual Loans | 2,046 | 0 |
Current | 105,554 | 91,716 |
Total Loans | 107,843 | 92,334 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-Acquired Loan [Member] | Retail Other Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 276 | 866 |
60 - 89 Days Past Due | 255 | 412 |
90+ Days Past Due | 1,204 | 1,061 |
Total Past Due | 1,735 | 2,339 |
Current but Non-Accrual Loans | 944 | 1,047 |
Current | 89,989 | 86,785 |
Total Loans | 92,668 | 90,171 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-Acquired Loan [Member] | Floor Plan Other Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 178 | 0 |
60 - 89 Days Past Due | 83 | 0 |
90+ Days Past Due | 475 | 0 |
Total Past Due | 736 | 0 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 35,447 | 40,903 |
Total Loans | 36,183 | 40,903 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-Acquired Loan [Member] | Consumer Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 2,451 | 2,579 |
60 - 89 Days Past Due | 1,134 | 946 |
90+ Days Past Due | 1,247 | 1,164 |
Total Past Due | 4,832 | 4,689 |
Current but Non-Accrual Loans | 662 | 346 |
Current | 222,262 | 181,725 |
Total Loans | 227,756 | 186,760 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-Acquired Loan [Member] | Credit Cards [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 436 | 360 |
60 - 89 Days Past Due | 182 | 139 |
90+ Days Past Due | 344 | 375 |
Total Past Due | 962 | 874 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 20,186 | 18,197 |
Total Loans | 21,148 | 19,071 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-Acquired Loan [Member] | Overdrafts [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 15 | 20 |
60 - 89 Days Past Due | 0 | 0 |
90+ Days Past Due | 0 | 0 |
Total Past Due | 15 | 20 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 260 | 287 |
Total Loans | 275 | 307 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-Acquired Loan [Member] | Unsecured personal lines of credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 31 | 102 |
60 - 89 Days Past Due | 27 | 25 |
90+ Days Past Due | 39 | 102 |
Total Past Due | 97 | 229 |
Current but Non-Accrual Loans | 21 | 9 |
Current | 2,066 | 1,962 |
Total Loans | 2,184 | 2,200 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-Acquired Loan [Member] | Unsecured personal loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 1,798 | 1,822 |
60 - 89 Days Past Due | 822 | 743 |
90+ Days Past Due | 862 | 678 |
Total Past Due | 3,482 | 3,243 |
Current but Non-Accrual Loans | 641 | 337 |
Current | 183,703 | 144,359 |
Total Loans | 187,826 | 147,939 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-Acquired Loan [Member] | Cash collateral personal loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 171 | 275 |
60 - 89 Days Past Due | 103 | 39 |
90+ Days Past Due | 2 | 9 |
Total Past Due | 276 | 323 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 16,047 | 16,920 |
Total Loans | 16,323 | 17,243 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Non-Acquired Loan [Member] | Auto and Leasing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 52,412 | 47,658 |
60 - 89 Days Past Due | 19,215 | 16,916 |
90+ Days Past Due | 8,986 | 7,420 |
Total Past Due | 80,613 | 71,994 |
Current but Non-Accrual Loans | 282 | 145 |
Current | 566,649 | 503,443 |
Total Loans | 647,544 | 575,582 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Acquired loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 1,497,964 | 2,015,439 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 10,152 | 12,887 |
60 - 89 Days Past Due | 3,391 | 4,417 |
90+ Days Past Due | 2,675 | 3,849 |
Total Past Due | 16,218 | 21,153 |
Current but Non-Accrual Loans | 97 | 88 |
Current | 155,315 | 221,560 |
Total Loans | 171,630 | 242,801 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 228 | 357 |
60 - 89 Days Past Due | 34 | 263 |
90+ Days Past Due | 825 | 1,111 |
Total Past Due | 1,087 | 1,731 |
Current but Non-Accrual Loans | 48 | 12 |
Current | 6,601 | 10,932 |
Total Loans | 7,736 | 12,675 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 0 | 62 |
90+ Days Past Due | 757 | 696 |
Total Past Due | 757 | 758 |
Current but Non-Accrual Loans | 47 | 0 |
Current | 2,470 | 3,724 |
Total Loans | 3,274 | 4,482 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Retail 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 | 279 | 351 |
Total Past Due | 279 | 351 |
Current but Non-Accrual Loans | 47 | 0 |
Current | 0 | 0 |
Total Loans | 326 | 351 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Acquired BBVAPR Accounted for under ASC 310-20 [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 | 62 |
90+ Days Past Due | 478 | 345 |
Total Past Due | 478 | 407 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 2,470 | 3,724 |
Total Loans | 2,948 | 4,131 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Other Commercial and Industrial[Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 228 | 357 |
60 - 89 Days Past Due | 34 | 201 |
90+ Days Past Due | 68 | 415 |
Total Past Due | 330 | 973 |
Current but Non-Accrual Loans | 1 | 12 |
Current | 4,131 | 7,208 |
Total Loans | 4,462 | 8,193 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Retail Other Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 228 | 155 |
60 - 89 Days Past Due | 24 | 67 |
90+ Days Past Due | 61 | 192 |
Total Past Due | 313 | 414 |
Current but Non-Accrual Loans | 0 | 2 |
Current | 3,475 | 3,705 |
Total Loans | 3,788 | 4,121 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Floor Plan Other Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 0 | 202 |
60 - 89 Days Past Due | 10 | 134 |
90+ Days Past Due | 7 | 223 |
Total Past Due | 17 | 559 |
Current but Non-Accrual Loans | 1 | 10 |
Current | 656 | 3,503 |
Total Loans | 674 | 4,072 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Consumer Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 914 | 1,527 |
60 - 89 Days Past Due | 436 | 701 |
90+ Days Past Due | 810 | 1,476 |
Total Past Due | 2,160 | 3,704 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 37,614 | 41,640 |
Total Loans | 39,774 | 45,344 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Credit Cards [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 825 | 1,376 |
60 - 89 Days Past Due | 422 | 654 |
90+ Days Past Due | 769 | 1,399 |
Total Past Due | 2,016 | 3,429 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 34,510 | 38,419 |
Total Loans | 36,526 | 41,848 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Unsecured personal loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 89 | 151 |
60 - 89 Days Past Due | 14 | 47 |
90+ Days Past Due | 41 | 77 |
Total Past Due | 144 | 275 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 3,104 | 3,221 |
Total Loans | 3,248 | 3,496 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Auto Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 9,010 | 11,003 |
60 - 89 Days Past Due | 2,921 | 3,453 |
90+ Days Past Due | 1,040 | 1,262 |
Total Past Due | 12,971 | 15,718 |
Current but Non-Accrual Loans | 49 | 76 |
Current | 111,100 | 168,988 |
Total Loans | 124,120 | 184,782 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | $ 0 | $ 0 |
Loans Receivable (BBVAPR Acquir
Loans Receivable (BBVAPR Acquired Loan 310-30 carrying amounts) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Accounts Notes And Loans Receivable Line Items | ||
Financing Receivable Acquired With Deteriorated Credit Quality | $ 2,022,672 | $ 2,394,378 |
Non-acretable discount | 442,103 | 456,627 |
Cash expected to be collected | 1,580,569 | 1,937,751 |
Accretable Yield | 378,613 | 445,946 |
Carrying amount, gross | 1,201,956 | 1,491,805 |
Allowance for loan and lease losses | $ 19,986 | $ 13,481 |
Loans Receivable (Accretable yi
Loans Receivable (Accretable yield and non-accretable discount activity) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Accretion Accretable | $ (38,340,000) | |||
Transfer from (to) non-accretable discount | (2,136,000) | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Change in actual and expected losses | (32,873,000) | |||
Transfer (to) from accretable yield | 2,136,000 | |||
Mortgage Loan [Member] | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Accretion Accretable | (9,627,000) | |||
Transfer from (to) non-accretable discount | 0 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Change in actual and expected losses | (15,802,000) | |||
Transfer (to) from accretable yield | 0 | |||
Commercial Loan [Member] | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Accretion Accretable | (12,575,000) | |||
Transfer from (to) non-accretable discount | 1,137,000 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Change in actual and expected losses | (4,215,000) | |||
Transfer (to) from accretable yield | (1,137,000) | |||
Construction Loans [Member] | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Accretion Accretable | (5,929,000) | |||
Transfer from (to) non-accretable discount | (3,550,000) | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Change in actual and expected losses | (8,937,000) | |||
Transfer (to) from accretable yield | 3,550,000 | |||
Auto Loan [Member] | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Accretion Accretable | (8,825,000) | |||
Transfer from (to) non-accretable discount | 237,000 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Change in actual and expected losses | (2,800,000) | |||
Transfer (to) from accretable yield | (237,000) | |||
Consumer Loan [Member] | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Accretion Accretable | (1,384,000) | |||
Transfer from (to) non-accretable discount | 40,000 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Change in actual and expected losses | (1,119,000) | |||
Transfer (to) from accretable yield | (40,000) | |||
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 | $ 412,048,000 | 444,606,000 | $ 445,946,000 | $ 517,553,000 |
Accretion Accretable | (30,696,000) | (38,340,000) | (90,169,000) | (118,323,000) |
Change in expected cash flow | 7,528,000 | 7,528,000 | ||
Transfer from (to) non-accretable discount | (10,267,000) | (2,136,000) | 15,308,000 | 4,900,000 |
Balance at end of period | 378,613,000 | 404,130,000 | 378,613,000 | 404,130,000 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 449,917,000 | 554,724,000 | 456,627,000 | 579,587,000 |
Change in actual and expected losses | (18,081,000) | (32,873,000) | 784,000 | (50,700,000) |
Transfer (to) from accretable yield | 10,267,000 | 2,136,000 | (15,308,000) | (4,900,000) |
Balance at end of period | 442,103,000 | 523,987,000 | 442,103,000 | 523,987,000 |
Acquired under ASC 310-30 Non-Covered Loans [Member] | Mortgage Loan [Member] | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 275,880,000 | 269,105,000 | 298,364,000 | 287,841,000 |
Accretion Accretable | (8,614,000) | (9,627,000) | (26,414,000) | (28,359,000) |
Change in expected cash flow | 0 | 0 | ||
Transfer from (to) non-accretable discount | 75,000 | 0 | (4,609,000) | (4,000) |
Balance at end of period | 267,341,000 | 259,478,000 | 267,341,000 | 259,478,000 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 389,107,000 | 455,789,000 | 389,839,000 | 463,166,000 |
Change in actual and expected losses | (2,184,000) | (15,802,000) | (7,600,000) | (23,183,000) |
Transfer (to) from accretable yield | (75,000) | 0 | 4,609,000 | 4,000 |
Balance at end of period | 386,848,000 | 439,987,000 | 386,848,000 | 439,987,000 |
Acquired under ASC 310-30 Non-Covered Loans [Member] | Commercial Loan [Member] | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 71,563,000 | 70,491,000 | 61,196,000 | 96,139,000 |
Accretion Accretable | (12,693,000) | (12,575,000) | (33,049,000) | (37,509,000) |
Change in expected cash flow | 6,134,000 | 6,134,000 | ||
Transfer from (to) non-accretable discount | (6,450,000) | 1,137,000 | 24,273,000 | 423,000 |
Balance at end of period | 58,554,000 | 59,053,000 | 58,554,000 | 59,053,000 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 10,770,000 | 41,050,000 | 23,069,000 | 42,515,000 |
Change in actual and expected losses | (12,090,000) | (4,215,000) | 6,334,000 | (6,394,000) |
Transfer (to) from accretable yield | 6,450,000 | (1,137,000) | (24,273,000) | (423,000) |
Balance at end of period | 5,130,000 | 35,698,000 | 5,130,000 | 35,698,000 |
Acquired under ASC 310-30 Non-Covered Loans [Member] | Construction Loans [Member] | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 24,613,000 | 30,672,000 | 25,829,000 | 42,993,000 |
Accretion Accretable | (2,719,000) | (5,929,000) | (8,672,000) | (16,388,000) |
Change in expected cash flow | 1,396,000 | 1,396,000 | ||
Transfer from (to) non-accretable discount | (4,075,000) | (3,550,000) | 662,000 | (5,412,000) |
Balance at end of period | 19,215,000 | 21,193,000 | 19,215,000 | 21,193,000 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 6,994,000 | 5,388,000 | 3,486,000 | 5,851,000 |
Change in actual and expected losses | (2,937,000) | (8,937,000) | 5,308,000 | (11,262,000) |
Transfer (to) from accretable yield | 4,075,000 | 3,550,000 | (662,000) | 5,412,000 |
Balance at end of period | 8,132,000 | 1,000 | 8,132,000 | 1,000 |
Acquired under ASC 310-30 Non-Covered Loans [Member] | Auto Loan [Member] | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 31,531,000 | 64,620,000 | 53,998,000 | 77,845,000 |
Accretion Accretable | (5,463,000) | (8,825,000) | (18,614,000) | (31,243,000) |
Change in expected cash flow | (1,000) | (1,000) | ||
Transfer from (to) non-accretable discount | 148,000 | 237,000 | (9,168,000) | 9,430,000 |
Balance at end of period | 26,215,000 | 56,032,000 | 26,215,000 | 56,032,000 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 23,690,000 | 27,279,000 | 16,215,000 | 39,645,000 |
Change in actual and expected losses | (555,000) | (2,800,000) | (2,396,000) | (5,973,000) |
Transfer (to) from accretable yield | (148,000) | (237,000) | 9,168,000 | (9,430,000) |
Balance at end of period | 22,987,000 | 24,242,000 | 22,987,000 | 24,242,000 |
Acquired under ASC 310-30 Non-Covered Loans [Member] | Consumer Loan [Member] | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 8,461,000 | 9,718,000 | 6,559,000 | 12,735,000 |
Accretion Accretable | (1,207,000) | (1,384,000) | (3,420,000) | (4,824,000) |
Change in expected cash flow | (1,000) | (1,000) | ||
Transfer from (to) non-accretable discount | 35,000 | 40,000 | 4,150,000 | 463,000 |
Balance at end of period | 7,288,000 | 8,374,000 | 7,288,000 | 8,374,000 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 19,356,000 | 25,218,000 | 24,018,000 | 28,410,000 |
Change in actual and expected losses | (315,000) | (1,119,000) | (862,000) | (3,888,000) |
Transfer (to) from accretable yield | (35,000) | (40,000) | (4,150,000) | (463,000) |
Balance at end of period | $ 19,006,000 | $ 24,059,000 | $ 19,006,000 | $ 24,059,000 |
Loans Receivable (Eurobank Acqu
Loans Receivable (Eurobank Acquired Loan carrying amounts) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Accounts Notes And Loans Receivable Line Items | ||
Financing Receivable Acquired With Deteriorated Credit Quality | $ 2,022,672 | $ 2,394,378 |
Non-acretable discount | 442,103 | 456,627 |
Cash expected to be collected | 1,580,569 | 1,937,751 |
Accretable Yield | 378,613 | 445,946 |
Carrying amount, gross | 1,201,956 | 1,491,805 |
Eurobank Acquired Loans | ||
Accounts Notes And Loans Receivable Line Items | ||
Financing Receivable Acquired With Deteriorated Credit Quality | 357,702 | 535,425 |
Non-acretable discount | 21,675 | 62,410 |
Cash expected to be collected | 336,027 | 473,015 |
Accretable Yield | 95,858 | 109,859 |
Carrying amount, gross | 240,169 | 363,156 |
Financing Receivable, Allowance for Credit Losses | 90,332 | 64,245 |
Carrying amount, net | $ 149,837 | $ 298,911 |
Loans Receivable (Accretable 65
Loans Receivable (Accretable yield and non-accretable discount activity of covered loans) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Accretion Accretable | $ (38,340) | |||
Transfer from (to) non-accretable discount | (2,136) | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Change in actual and expected losses | (32,873) | |||
Transfer (to) from accretable yield | 2,136 | |||
Consumer Loan [Member] | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Accretion Accretable | (1,384) | |||
Transfer from (to) non-accretable discount | 40 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Change in actual and expected losses | (1,119) | |||
Transfer (to) from accretable yield | (40) | |||
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 | $ 104,641 | 128,061 | $ 109,859 | $ 162,959 |
Accretion Accretable | (16,014) | (20,886) | (44,276) | (69,154) |
Change in expected cash flow | 37,734 | 37,734 | ||
Transfer from (to) non-accretable discount | (30,503) | 2,809 | (7,459) | 16,179 |
Balance at end of period | 95,858 | 109,984 | 95,858 | 109,984 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 21,132 | 85,224 | 62,410 | 129,477 |
Change in actual and expected losses | (29,960) | (4,475) | (48,194) | (35,358) |
Transfer (to) from accretable yield | 30,503 | (2,809) | 7,459 | (16,179) |
Balance at end of period | 21,675 | 77,940 | 21,675 | 77,940 |
Acquired Loans In An F D I C Assisted Transaction [Member] | Loans Secured by 1-4 properties | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 55,806 | 50,586 | 47,636 | 53,250 |
Accretion Accretable | (3,543) | (3,882) | (10,337) | (12,079) |
Change in expected cash flow | 4,320 | 4,320 | ||
Transfer from (to) non-accretable discount | (2,188) | 0 | 12,776 | 5,533 |
Balance at end of period | 54,395 | 46,704 | 54,395 | 46,704 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 11,402 | 29,859 | 27,348 | 39,182 |
Change in actual and expected losses | (8) | (888) | (47,408) | (4,678) |
Transfer (to) from accretable yield | 2,188 | 0 | 22,944 | (5,533) |
Balance at end of period | 13,582 | 28,971 | 13,582 | 28,971 |
Acquired Loans In An F D I C Assisted Transaction [Member] | Commercial and Other Construction Loan [Member] | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 27,473 | 70,227 | 37,919 | 95,093 |
Accretion Accretable | (10,100) | (13,044) | (28,002) | (45,037) |
Change in expected cash flow | 43,775 | 43,775 | ||
Transfer from (to) non-accretable discount | (30,400) | 698 | (22,944) | 7,825 |
Balance at end of period | 30,748 | 57,881 | 30,748 | 57,881 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 0 | 46,596 | 24,464 | 81,092 |
Change in actual and expected losses | (30,400) | (5,648) | (1,205) | (33,017) |
Transfer (to) from accretable yield | 30,400 | (698) | 1,205 | (7,825) |
Balance at end of period | 0 | 40,250 | 0 | 40,250 |
Acquired Loans In An F D I C Assisted Transaction [Member] | Construction and development secured by family properties [Member] | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 18,349 | 0 | 20,753 | 1,690 |
Accretion Accretable | (1,446) | (1,056) | (2,470) | (3,206) |
Change in expected cash flow | (10,749) | (10,749) | ||
Transfer from (to) non-accretable discount | 175 | 1,056 | (1,205) | 1,516 |
Balance at end of period | 6,329 | 0 | 6,329 | 0 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 0 | 0 | 0 | 0 |
Change in actual and expected losses | 175 | 1,056 | 1,260 | 1,516 |
Transfer (to) from accretable yield | (175) | (1,056) | (1,260) | (1,516) |
Balance at end of period | 0 | 0 | 0 | 0 |
Acquired Loans In An F D I C Assisted Transaction [Member] | Auto and Leasing [Member] | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 1,103 | 5,100 | 2,479 | 10,238 |
Accretion Accretable | (711) | (2,500) | (3,040) | (7,888) |
Change in expected cash flow | 270 | 270 | ||
Transfer from (to) non-accretable discount | 307 | 305 | 1,260 | 555 |
Balance at end of period | 969 | 2,905 | 969 | 2,905 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 0 | 0 | 0 | 0 |
Change in actual and expected losses | 307 | 305 | 149 | 555 |
Transfer (to) from accretable yield | (307) | (305) | (2,654) | (555) |
Balance at end of period | 0 | 0 | 0 | 0 |
Acquired Loans In An F D I C Assisted Transaction [Member] | Consumer Loan [Member] | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 1,910 | 2,148 | 1,072 | 2,688 |
Accretion Accretable | (214) | (404) | (427) | (944) |
Change in expected cash flow | 118 | 118 | ||
Transfer from (to) non-accretable discount | 1,603 | 750 | 2,654 | 750 |
Balance at end of period | 3,417 | 2,494 | 3,417 | 2,494 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 9,730 | 8,769 | 10,598 | 9,203 |
Change in actual and expected losses | (34) | 700 | (48,194) | 266 |
Transfer (to) from accretable yield | (1,603) | (750) | 7,459 | (750) |
Balance at end of period | $ 8,093 | $ 8,719 | $ 8,093 | $ 8,719 |
Loans Receivable (Investment in
Loans Receivable (Investment in loans on non-accrual status) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 307,244 | $ 101,542 |
Non-Acquired Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 304,317 | 97,367 |
Non-Acquired Loan [Member] | Mortgage Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 70,165 | 65,430 |
Non-Acquired Loan [Member] | Traditional loan | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 47,456 | 41,272 |
Non-Acquired Loan [Member] | Originated Up To The Year 2002 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 3,827 | 4,427 |
Non-Acquired Loan [Member] | Originated In The Years 2003 And 2004 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 6,275 | 7,042 |
Non-Acquired Loan [Member] | Originated In The Year 2005 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 3,686 | 4,585 |
Non-Acquired Loan [Member] | Originated In The Year 2006 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 8,270 | 9,274 |
Non-Acquired Loan [Member] | Originated In The Years 2007 2008 And 2009 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 14,949 | 8,579 |
Non-Acquired Loan [Member] | Originated In The Years 2010 2011 2012 2013 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 10,264 | 7,365 |
Non-Acquired Loan [Member] | Originated In Years 2014 and 2015 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 185 | 0 |
Non-Acquired Loan [Member] | NonTraditional Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 3,482 | 3,224 |
Non-Acquired Loan [Member] | Loss Mitigation Program [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 19,227 | 20,934 |
Non-Acquired Loan [Member] | Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 222,072 | 21,679 |
Non-Acquired Loan [Member] | Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 23,059 | 18,534 |
Non-Acquired Loan [Member] | Middle Market Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 14,101 | 9,534 |
Non-Acquired Loan [Member] | Retail Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 8,958 | 9,000 |
Non-Acquired Loan [Member] | Other Commercial and Industrial[Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 199,013 | 3,145 |
Non-Acquired Loan [Member] | Institutional | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 193,904 | 0 |
Non-Acquired Loan [Member] | Middle Market Other Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,270 | 618 |
Non-Acquired Loan [Member] | Retail Other Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,364 | 2,527 |
Non-Acquired Loan [Member] | Floor Plan Other Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 475 | 0 |
Non-Acquired Loan [Member] | Consumer Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,004 | 1,590 |
Non-Acquired Loan [Member] | Credit Cards [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 344 | 375 |
Non-Acquired Loan [Member] | Unsecured personal lines of credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 60 | 110 |
Non-Acquired Loan [Member] | Unsecured personal loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,598 | 1,092 |
Non-Acquired Loan [Member] | Cash collateral personal loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2 | 13 |
Non-Acquired Loan [Member] | Auto and Leasing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 10,076 | 8,668 |
Most recent acquired loans accounted for under ASC 310-20 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,927 | 4,175 |
Most recent acquired loans accounted for under ASC 310-20 [Member] | Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 873 | 1,187 |
Most recent acquired loans accounted for under ASC 310-20 [Member] | Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 803 | 758 |
Most recent acquired loans accounted for under ASC 310-20 [Member] | Retail Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 326 | 351 |
Most recent acquired loans accounted for under ASC 310-20 [Member] | Floor Plan Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 477 | 407 |
Most recent acquired loans accounted for under ASC 310-20 [Member] | Other Commercial and Industrial[Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 70 | 429 |
Most recent acquired loans accounted for under ASC 310-20 [Member] | Retail Other Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 61 | 195 |
Most recent acquired loans accounted for under ASC 310-20 [Member] | Floor Plan Other Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 9 | 234 |
Most recent acquired loans accounted for under ASC 310-20 [Member] | Consumer Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 810 | 1,476 |
Most recent acquired loans accounted for under ASC 310-20 [Member] | Credit Cards [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 769 | 1,399 |
Most recent acquired loans accounted for under ASC 310-20 [Member] | Unsecured personal loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 41 | 77 |
Most recent acquired loans accounted for under ASC 310-20 [Member] | Auto Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 1,244 | $ 1,512 |
Loans Receivable (Recorded Inve
Loans Receivable (Recorded Investment in loans individually evaluated for impairment) (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Financing Receivable, Impaired [Line Items] | ||
Allowance for loan and lease losses | $ 196,142 | $ 133,762 |
Non-Acquired Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | 341,597 | 344,102 |
Recorded Investment | 323,644 | 330,455 |
Allowance for loan and lease losses | $ 35,058 | $ 9,809 |
Coverage | 11.00% | 3.00% |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 494 | $ 672 |
Recorded Investment | 485 | 672 |
Acquired BBVAPR Accounted under ASC 310-30 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | 1,186,883 | 415,826 |
Recorded Investment | 470,217 | 369,258 |
Allowance for loan and lease losses | $ 19,986 | $ 13,481 |
Coverage | 4.00% | 4.00% |
Eurobank Acquired Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 264,141 | $ 293,588 |
Recorded Investment | 240,170 | 204,253 |
Allowance for loan and lease losses | $ 90,332 | $ 64,245 |
Coverage | 38.00% | 31.00% |
Commercial impaired loans with specific allowance [Member] | Non-Acquired Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 213,930 | $ 6,349 |
Recorded Investment | 206,227 | 6,226 |
Allowance for loan and lease losses | $ 26,809 | $ 841 |
Coverage | 13.00% | 14.00% |
Residential troubled-debt restructuring impaired loans with specific allowance [Member] | Non-Acquired Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 97,203 | $ 99,947 |
Recorded Investment | 90,530 | 94,185 |
Allowance for loan and lease losses | $ 8,249 | $ 8,968 |
Coverage | 9.00% | 10.00% |
Commercial impaired loans with no specific allowance financing receivable | Non-Acquired Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 30,464 | $ 237,806 |
Recorded Investment | 26,887 | 230,044 |
Commercial impaired loans with no specific allowance financing receivable | Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | 494 | 672 |
Recorded Investment | 485 | 672 |
Mortgage impaired loan pool [Member] | Acquired BBVAPR Accounted under ASC 310-30 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | 617,268 | 289,228 |
Recorded Investment | 22,762 | 255,619 |
Allowance for loan and lease losses | $ 557 | $ 5,506 |
Coverage | 2.00% | 2.00% |
Commercial impaired loan pool [Member] | Acquired BBVAPR Accounted under ASC 310-30 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 307,271 | $ 90,786 |
Recorded Investment | 185,274 | 83,751 |
Allowance for loan and lease losses | $ 11,780 | $ 7,970 |
Coverage | 6.00% | 10.00% |
Construction impaired loan pool [Member] | Acquired BBVAPR Accounted under ASC 310-30 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 88,365 | $ 35,812 |
Recorded Investment | 88,202 | 29,888 |
Allowance for loan and lease losses | $ 4,787 | $ 5 |
Coverage | 5.00% | 0.00% |
Auto impaired loan pool. | Acquired BBVAPR Accounted under ASC 310-30 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 173,979 | |
Recorded Investment | 173,979 | |
Allowance for loan and lease losses | $ 2,862 | |
Coverage | 2.00% | |
Consumer impaired loan pool. | Eurobank Acquired Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 6,935 | $ 7,992 |
Recorded Investment | 2,708 | 4,506 |
Allowance for loan and lease losses | $ 243 | $ 389 |
Coverage | 9.00% | 9.00% |
Loans secured by 1-4 family residential properties, covered [Member] | Eurobank Acquired Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 108,537 | $ 134,579 |
Recorded Investment | 105,734 | 106,116 |
Allowance for loan and lease losses | $ 32,685 | $ 15,522 |
Coverage | 31.00% | 15.00% |
Construction and development secured by family 1-4 properties [Member] | Eurobank Acquired Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 11,506 | $ 57,123 |
Recorded Investment | 3,185 | 19,562 |
Allowance for loan and lease losses | $ 2,707 | $ 10,724 |
Coverage | 85.00% | 55.00% |
Commercial and Other Construction Loan [Member] | Eurobank Acquired Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 137,163 | $ 93,894 |
Recorded Investment | 128,543 | 74,069 |
Allowance for loan and lease losses | $ 54,697 | $ 37,610 |
Coverage | 43.00% | 51.00% |
Loans Receivable (Interest Inco
Loans Receivable (Interest Income Recognized in loans individually evaluated for impairment) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Impaired Financing Receivable Interest Income Accrual Method [Abstract] | ||||
Total Interest Income | $ 1,190 | $ 2,422 | $ 3,181 | $ 7,144 |
Impaired Financing Receivable Average Recorded Investment [Abstract] | ||||
Total Average Recorded Investment | 330,124 | 185,425 | 333,424 | 139,987 |
Originated Loans [Member] | ||||
Impaired Financing Receivable Interest Income Accrual Method [Abstract] | ||||
Total Interest Income | 1,190 | 2,422 | 3,181 | 7,144 |
Impaired Financing Receivable Average Recorded Investment [Abstract] | ||||
Total Average Recorded Investment | 329,047 | 185,425 | 331,783 | 139,987 |
Commercial Loan [Member] | Originated Loans [Member] | ||||
Impaired Financing Receivable Interest Income Accrual Method [Abstract] | ||||
Impaired Financing Receivable With Related Allowance Interest Income Accrual Method | 37 | 28 | 73 | 83 |
Impaired Financing Receivable With No Related Allowance Interest Income Accrual Method | 365 | 1,728 | 727 | 5,185 |
Impaired Financing Receivable Average Recorded Investment [Abstract] | ||||
Impaired Financing Receivable With Related Allowance Average Recorded Investment | 207,610 | 5,103 | 166,633 | 6,187 |
Impaired Financing Receivable With No Related Allowance Average Recorded Investment | 31,159 | 89,029 | 74,247 | 44,203 |
Commercial Loan [Member] | Most recent acquired loans accounted for under ASC 310-20 [Member] | ||||
Impaired Financing Receivable Interest Income Accrual Method [Abstract] | ||||
Impaired Financing Receivable With No Related Allowance Interest Income Accrual Method | 0 | 0 | 0 | 0 |
Impaired Financing Receivable Average Recorded Investment [Abstract] | ||||
Impaired Financing Receivable With No Related Allowance Average Recorded Investment | 1,077 | 0 | 1,641 | 0 |
Troubled Debt Restructuring [Member] | Originated Loans [Member] | ||||
Impaired Financing Receivable Interest Income Accrual Method [Abstract] | ||||
Impaired Financing Receivable With Related Allowance Interest Income Accrual Method | 788 | 666 | 2,381 | 1,876 |
Impaired Financing Receivable Average Recorded Investment [Abstract] | ||||
Impaired Financing Receivable With Related Allowance Average Recorded Investment | $ 90,278 | $ 91,293 | $ 90,903 | $ 89,597 |
Loans Receivable (TDR Pre_Post
Loans Receivable (TDR Pre/Post Modifications) (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015USD ($)number | Sep. 30, 2014USD ($)number | Sep. 30, 2015USD ($)number | Sep. 30, 2014USD ($)number | |
Mortgage Loan [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of contracts | number | 30 | 26 | 127 | 113 |
Financing Receivable Modifications Pre Modification Recorded Investment | $ 3,846 | $ 3,016 | $ 15,455 | $ 14,562 |
Pre Modification Weighted Average Rate | 6.34% | 5.62% | 5.07% | 5.99% |
Pre Modification Weighted Average Term | 338 months | 347 months | 346 months | 349 months |
Financing Receivable Modifications Post Modification Recorded Investment | $ 3,992 | $ 2,965 | $ 15,586 | $ 14,162 |
Post Modification Weighted Average Rate | 4.45% | 4.22% | 4.21% | 4.21% |
Post Modification Weighted Average Term | 180 months | 393 months | 306 months | 389 months |
Commercial Loan [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of contracts | number | 3 | 20 | 7 | 21 |
Financing Receivable Modifications Pre Modification Recorded Investment | $ 1,001 | $ 200,007 | $ 5,534 | $ 200,080 |
Pre Modification Weighted Average Rate | 6.50% | 7.25% | 6.77% | 7.25% |
Pre Modification Weighted Average Term | 12 months | 3 months | 67 months | 3 months |
Financing Receivable Modifications Post Modification Recorded Investment | $ 8,511 | $ 200,007 | $ 13,045 | $ 200,080 |
Post Modification Weighted Average Rate | 3.19% | 7.25% | 4.52% | 7.25% |
Post Modification Weighted Average Term | 12 months | 10 months | 57 months | 10 months |
Consumer Loan [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of contracts | number | 27 | 6 | 59 | 13 |
Financing Receivable Modifications Pre Modification Recorded Investment | $ 170 | $ 58 | $ 567 | $ 123 |
Pre Modification Weighted Average Rate | 12.41% | 10.00% | 13.87% | 11.77% |
Pre Modification Weighted Average Term | 70 months | 61 months | 71 months | 55 months |
Financing Receivable Modifications Post Modification Recorded Investment | $ 400 | $ 68 | $ 840 | $ 139 |
Post Modification Weighted Average Rate | 12.32% | 9.66% | 13.33% | 11.48% |
Post Modification Weighted Average Term | 52 months | 55 months | 60 months | 62 months |
Auto Loan [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of contracts | number | 1 | |||
Financing Receivable Modifications Pre Modification Recorded Investment | $ 64 | |||
Pre Modification Weighted Average Rate | 12.95% | |||
Pre Modification Weighted Average Term | 72 months | |||
Financing Receivable Modifications Post Modification Recorded Investment | $ 65 | |||
Post Modification Weighted Average Rate | 12.95% | |||
Post Modification Weighted Average Term | 72 months |
Loans Receivable (Troubled debt
Loans Receivable (Troubled debt restructurings, Rolling Twelve Months) (Details) $ in Thousands | 12 Months Ended | |
Sep. 30, 2015USD ($)number | Sep. 30, 2014USD ($)number | |
Mortgage Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | number | 49 | 15 |
Recored Investment | $ 5,396 | $ 1,739 |
Commercial Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | number | 8 | 2 |
Recored Investment | $ 177 | $ 5 |
Consumer Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | number | 1 | 0 |
Recored Investment | $ 64 | $ 0 |
Loans Receivable (Credit Qualit
Loans Receivable (Credit Quality Indicator of loans) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 4,641,044 | $ 4,941,587 |
Non-Acquired Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 3,027,289 | 2,843,825 |
Doubtful | 0 | |
Financing Receivable, Individually Evaluated for Impairment | 323,644 | 330,455 |
Commercial Secured [Member] | Non-Acquired Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 697,159 | 523,643 |
Pass | 626,610 | 457,260 |
Special Mention | 37,251 | 32,364 |
Substandard | 4,821 | 2,637 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 28,477 | 31,382 |
Commercial Secured [Member] | Commercial Acquired loans (under ASC 310-20) [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 3,274 | 4,482 |
Pass | 1,641 | 3,724 |
Special Mention | 829 | 0 |
Substandard | 326 | 351 |
Doubtful | 0 | |
Financing Receivable, Individually Evaluated for Impairment | 478 | 407 |
Corporate | Non-Acquired Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 224,110 | 133,076 |
Pass | 206,678 | 109,282 |
Special Mention | 15,227 | 15,615 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 2,205 | 8,179 |
Institutional | Non-Acquired Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 34,342 | 36,611 |
Pass | 26,101 | 27,089 |
Special Mention | 8,023 | 9,284 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 218 | 238 |
Middle Market | Non-Acquired Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 207,255 | 164,050 |
Pass | 182,617 | 148,360 |
Special Mention | 9,368 | 2,817 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 15,270 | 12,873 |
Retail | Non-Acquired Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 211,761 | 175,628 |
Pass | 191,523 | 159,209 |
Special Mention | 4,633 | 3,690 |
Substandard | 4,821 | 2,637 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 10,784 | 10,092 |
Retail | Commercial Acquired loans (under ASC 310-20) [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 326 | 351 |
Pass | 0 | 0 |
Special Mention | 0 | 0 |
Substandard | 326 | 351 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Floor Plan | Non-Acquired Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 2,925 | 1,650 |
Pass | 2,925 | 692 |
Special Mention | 0 | 958 |
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 | 2,948 | 4,131 |
Pass | 1,641 | 3,724 |
Special Mention | 829 | 0 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 478 | 407 |
Real Estate | Non-Acquired Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 16,766 | 12,628 |
Pass | 16,766 | 12,628 |
Special Mention | 0 | 0 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Other commercial and industrial [Member] | Non-Acquired Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 692,194 | 766,089 |
Pass | 479,985 | 554,179 |
Special Mention | 5,237 | 4,321 |
Substandard | 2,335 | 2,701 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 204,637 | 204,888 |
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 | 4,462 | 8,193 |
Pass | 4,443 | 7,887 |
Special Mention | 0 | 8 |
Substandard | 12 | 33 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 7 | 265 |
Institutional | Non-Acquired Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 71,714 | 63,746 |
Pass | 66,054 | 63,746 |
Special Mention | 0 | 0 |
Substandard | 0 | 0 |
Doubtful | 0 | |
Financing Receivable, Individually Evaluated for Impairment | 5,660 | 0 |
Institutional | Non-Acquired Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 383,786 | 478,935 |
Pass | 189,882 | 278,953 |
Special Mention | 0 | 0 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 193,904 | 199,982 |
Middle Market | Non-Acquired Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 107,843 | 92,334 |
Pass | 102,757 | 87,126 |
Special Mention | 2,395 | 2,815 |
Substandard | 0 | 0 |
Doubtful | 0 | |
Financing Receivable, Individually Evaluated for Impairment | 2,691 | 2,393 |
Retail | Non-Acquired Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 92,668 | 90,171 |
Pass | 87,839 | 85,941 |
Special Mention | 673 | 259 |
Substandard | 2,110 | 2,575 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 2,046 | 1,396 |
Retail | Commercial Acquired loans (under ASC 310-20) [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 3,788 | 4,121 |
Pass | 3,777 | 4,080 |
Special Mention | 0 | 8 |
Substandard | 11 | 33 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Floor Plan | Non-Acquired Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 36,183 | 40,903 |
Pass | 33,453 | 38,413 |
Special Mention | 2,169 | 1,247 |
Substandard | 225 | 126 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 336 | 1,117 |
Floor Plan | Commercial Acquired loans (under ASC 310-20) [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 674 | 4,072 |
Pass | 666 | 3,807 |
Special Mention | 0 | 0 |
Substandard | 1 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 7 | 265 |
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 | 1,397,089 | 1,302,407 |
Pass | 1,112,679 | 1,023,050 |
Special Mention | 43,317 | 36,693 |
Substandard | 7,494 | 5,722 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 233,599 | 236,942 |
Total Commercial subject to risk rating [Member] | Non-Acquired Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 1,389,353 | 1,289,732 |
Pass | 1,106,595 | 1,011,439 |
Special Mention | 42,488 | 36,685 |
Substandard | 7,156 | 5,338 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 233,114 | 236,270 |
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 | 7,736 | 12,675 |
Pass | 6,084 | 11,611 |
Special Mention | 829 | 8 |
Substandard | 338 | 384 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | $ 485 | $ 672 |
Loans Receivable (Risk category
Loans Receivable (Risk category of gross loans not subject to risk rating ) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Not Subject To Risk Rating [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 4,641,044 | $ 4,941,587 |
Non Covered Loan, Not Subject To Risk Ratings [Member] | ||
Not Subject To Risk Rating [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 1,801,830 | 1,784,219 |
0 - 29 Days Past Due | 1,527,025 | 1,460,335 |
30 - 59 Days Past Due | 68,569 | 95,898 |
60 - 89 Days Past Due | 42,982 | 40,639 |
90-119 Days Past Due | 17,026 | 20,735 |
120 - 364 Days Past Due | 23,395 | 40,053 |
365+ Days Past Due | 32,303 | 32,374 |
Financing Receivable, Individually Evaluated for Impairment | 90,530 | 94,185 |
Originated loans, not subject to risk rating [Member] | ||
Not Subject To Risk Rating [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 1,637,936 | 1,554,093 |
0 - 29 Days Past Due | 1,378,263 | 1,249,631 |
30 - 59 Days Past Due | 58,645 | 83,368 |
60 - 89 Days Past Due | 39,625 | 36,485 |
90-119 Days Past Due | 15,912 | 19,340 |
120 - 364 Days Past Due | 22,658 | 38,710 |
365+ Days Past Due | 32,303 | 32,374 |
Financing Receivable, Individually Evaluated for Impairment | 90,530 | 94,185 |
Originated loans, not subject to risk rating [Member] | Mortgage Loan [Member] | ||
Not Subject To Risk Rating [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 762,636 | 791,751 |
0 - 29 Days Past Due | 588,249 | 563,972 |
30 - 59 Days Past Due | 3,905 | 33,131 |
60 - 89 Days Past Due | 19,312 | 18,623 |
90-119 Days Past Due | 8,247 | 13,303 |
120 - 364 Days Past Due | 20,090 | 36,166 |
365+ Days Past Due | 32,303 | 32,371 |
Financing Receivable, Individually Evaluated for Impairment | 90,530 | 94,185 |
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 | 622,712 | 619,348 |
0 - 29 Days Past Due | 544,646 | 521,657 |
30 - 59 Days Past Due | 1,362 | 30,659 |
60 - 89 Days Past Due | 15,864 | 16,916 |
90-119 Days Past Due | 5,705 | 5,607 |
120 - 364 Days Past Due | 13,165 | 14,432 |
365+ Days Past Due | 26,701 | 13,931 |
Financing Receivable, Individually Evaluated for Impairment | 15,269 | 16,146 |
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 | 59,581 | 65,744 |
0 - 29 Days Past Due | 52,550 | 53,432 |
30 - 59 Days Past Due | 82 | 3,963 |
60 - 89 Days Past Due | 2,267 | 3,083 |
90-119 Days Past Due | 999 | 1,044 |
120 - 364 Days Past Due | 1,083 | 1,360 |
365+ Days Past Due | 1,818 | 1,975 |
Financing Receivable, Individually Evaluated for Impairment | 782 | 887 |
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 | 101,863 | 109,669 |
0 - 29 Days Past Due | 89,211 | 86,941 |
30 - 59 Days Past Due | 364 | 10,391 |
60 - 89 Days Past Due | 4,723 | 4,362 |
90-119 Days Past Due | 1,763 | 1,657 |
120 - 364 Days Past Due | 1,064 | 3,215 |
365+ Days Past Due | 2,999 | 1,330 |
Financing Receivable, Individually Evaluated for Impairment | 1,739 | 1,773 |
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 | 55,600 | 60,472 |
0 - 29 Days Past Due | 48,517 | 49,275 |
30 - 59 Days Past Due | 0 | 3,824 |
60 - 89 Days Past Due | 2,525 | 2,205 |
90-119 Days Past Due | 287 | 389 |
120 - 364 Days Past Due | 1,192 | 1,673 |
365+ Days Past Due | 2,208 | 1,893 |
Financing Receivable, Individually Evaluated for Impairment | 871 | 1,213 |
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 | 80,427 | 85,550 |
0 - 29 Days Past Due | 65,839 | 65,113 |
30 - 59 Days Past Due | 97 | 5,263 |
60 - 89 Days Past Due | 2,854 | 2,967 |
90-119 Days Past Due | 1,070 | 1,242 |
120 - 364 Days Past Due | 1,708 | 2,801 |
365+ Days Past Due | 5,354 | 4,624 |
Financing Receivable, Individually Evaluated for Impairment | 3,505 | 3,540 |
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 | 94,318 | 93,489 |
0 - 29 Days Past Due | 72,491 | 76,246 |
30 - 59 Days Past Due | 281 | 4,230 |
60 - 89 Days Past Due | 2,151 | 1,809 |
90-119 Days Past Due | 1,447 | 337 |
120 - 364 Days Past Due | 3,926 | 3,986 |
365+ Days Past Due | 9,984 | 2,813 |
Financing Receivable, Individually Evaluated for Impairment | 4,038 | 4,068 |
Originated loans, not subject to risk rating [Member] | Originated In The Years 2010 2011 2012 2013 [Member] | ||
Not Subject To Risk Rating [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 154,531 | 162,316 |
0 - 29 Days Past Due | 139,927 | 148,832 |
30 - 59 Days Past Due | 538 | 2,698 |
60 - 89 Days Past Due | 1,248 | 2,490 |
90-119 Days Past Due | 139 | 938 |
120 - 364 Days Past Due | 4,007 | 1,397 |
365+ Days Past Due | 4,338 | 1,296 |
Financing Receivable, Individually Evaluated for Impairment | 4,334 | 4,665 |
Originated loans, not subject to risk rating [Member] | Originated In Years 2014 and 2015 [Member] | ||
Not Subject To Risk Rating [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 76,392 | |
0 - 29 Days Past Due | 76,111 | |
30 - 59 Days Past Due | 0 | |
60 - 89 Days Past Due | 96 | |
90-119 Days Past Due | 0 | |
120 - 364 Days Past Due | 185 | |
365+ Days Past Due | 0 | |
Financing Receivable, Individually Evaluated for Impairment | 0 | |
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 | 32,249 | 36,200 |
0 - 29 Days Past Due | 26,863 | 30,916 |
30 - 59 Days Past Due | 0 | 1,477 |
60 - 89 Days Past Due | 1,918 | 584 |
90-119 Days Past Due | 375 | 478 |
120 - 364 Days Past Due | 1,362 | 600 |
365+ Days Past Due | 1,731 | 2,096 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 49 |
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 | 100,167 | 93,443 |
0 - 29 Days Past Due | 16,289 | 10,882 |
30 - 59 Days Past Due | 2,479 | 995 |
60 - 89 Days Past Due | 1,530 | 1,123 |
90-119 Days Past Due | 1,194 | 802 |
120 - 364 Days Past Due | 1,723 | 405 |
365+ Days Past Due | 1,691 | 1,246 |
Financing Receivable, Individually Evaluated for Impairment | 75,261 | 77,990 |
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 | 515 | 517 |
0 - 29 Days Past Due | 451 | 517 |
30 - 59 Days Past Due | 64 | 0 |
60 - 89 Days Past Due | 0 | 0 |
90-119 Days Past Due | 0 | 0 |
120 - 364 Days Past Due | 0 | 0 |
365+ Days Past Due | 0 | 0 |
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 | 6,993 | 42,243 |
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 | 973 | 6,416 |
120 - 364 Days Past Due | 3,840 | 20,729 |
365+ Days Past Due | 2,180 | 15,098 |
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 | 227,756 | 186,760 |
0 - 29 Days Past Due | 223,021 | 182,071 |
30 - 59 Days Past Due | 2,390 | 2,579 |
60 - 89 Days Past Due | 1,098 | 946 |
90-119 Days Past Due | 997 | 841 |
120 - 364 Days Past Due | 250 | 320 |
365+ Days Past Due | 0 | 3 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
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 | 21,148 | 19,071 |
0 - 29 Days Past Due | 20,186 | 18,198 |
30 - 59 Days Past Due | 436 | 360 |
60 - 89 Days Past Due | 182 | 139 |
90-119 Days Past Due | 123 | 171 |
120 - 364 Days Past Due | 221 | 203 |
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 | 275 | 307 |
0 - 29 Days Past Due | 260 | 287 |
30 - 59 Days Past Due | 15 | 20 |
60 - 89 Days Past Due | 0 | 0 |
90-119 Days Past Due | 0 | 0 |
120 - 364 Days Past Due | 0 | 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 | 2,184 | 2,200 |
0 - 29 Days Past Due | 2,087 | 1,970 |
30 - 59 Days Past Due | 31 | 102 |
60 - 89 Days Past Due | 27 | 25 |
90-119 Days Past Due | 39 | 38 |
120 - 364 Days Past Due | 0 | 62 |
365+ Days Past Due | 0 | 3 |
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 | 187,826 | 147,939 |
0 - 29 Days Past Due | 184,441 | 144,696 |
30 - 59 Days Past Due | 1,737 | 1,822 |
60 - 89 Days Past Due | 786 | 743 |
90-119 Days Past Due | 835 | 623 |
120 - 364 Days Past Due | 27 | 55 |
365+ Days Past Due | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
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 | 16,323 | 17,243 |
0 - 29 Days Past Due | 16,047 | 16,920 |
30 - 59 Days Past Due | 171 | 275 |
60 - 89 Days Past Due | 103 | 39 |
90-119 Days Past Due | 0 | 9 |
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] | Auto and Leasing [Member] | ||
Not Subject To Risk Rating [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 647,544 | 575,582 |
0 - 29 Days Past Due | 566,993 | 503,588 |
30 - 59 Days Past Due | 52,350 | 47,658 |
60 - 89 Days Past Due | 19,215 | 16,916 |
90-119 Days Past Due | 6,668 | 5,196 |
120 - 364 Days Past Due | 2,318 | 2,224 |
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 | 163,894 | 230,126 |
0 - 29 Days Past Due | 148,762 | 210,704 |
30 - 59 Days Past Due | 9,924 | 12,530 |
60 - 89 Days Past Due | 3,357 | 4,154 |
90-119 Days Past Due | 1,114 | 1,395 |
120 - 364 Days Past Due | 737 | 1,343 |
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 | 39,774 | 45,344 |
0 - 29 Days Past Due | 37,613 | 41,640 |
30 - 59 Days Past Due | 914 | 1,527 |
60 - 89 Days Past Due | 436 | 701 |
90-119 Days Past Due | 362 | 628 |
120 - 364 Days Past Due | 449 | 848 |
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 | 36,526 | 41,848 |
0 - 29 Days Past Due | 34,511 | 38,419 |
30 - 59 Days Past Due | 825 | 1,376 |
60 - 89 Days Past Due | 422 | 654 |
90-119 Days Past Due | 351 | 589 |
120 - 364 Days Past Due | 417 | 810 |
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 | 3,248 | 3,496 |
0 - 29 Days Past Due | 3,102 | 3,221 |
30 - 59 Days Past Due | 89 | 151 |
60 - 89 Days Past Due | 14 | 47 |
90-119 Days Past Due | 11 | 39 |
120 - 364 Days Past Due | 32 | 38 |
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] | Auto Loan [Member] | ||
Not Subject To Risk Rating [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 124,120 | 184,782 |
0 - 29 Days Past Due | 111,149 | 169,064 |
30 - 59 Days Past Due | 9,010 | 11,003 |
60 - 89 Days Past Due | 2,921 | 3,453 |
90-119 Days Past Due | 752 | 767 |
120 - 364 Days Past Due | 288 | 495 |
365+ Days Past Due | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | $ 0 | $ 0 |
Allowance for Loan and Lease 73
Allowance for Loan and Lease Losses (Narrative) (Details) $ in Millions | 3 Months Ended | 9 Months Ended |
Sep. 30, 2015USD ($) | Sep. 30, 2015USD ($) | |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans And Leases Receivable Allowance, Covered | $ 32.7 | $ 32.7 |
Provision for Loan Losses, Covered | $ 15.8 | $ 18.1 |
Allowance for Loan and Lease 74
Allowance for Loan and Lease Losses (Composition of the Company's allowance for loan and lease losses) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | $ 196,142 | $ 133,762 |
Non-Acquired Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 80,351 | 51,439 |
Non-Acquired Loan [Member] | Mortgage Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 17,292 | 19,679 |
Non-Acquired Loan [Member] | Commercial Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 35,524 | 8,432 |
Non-Acquired Loan [Member] | Consumer Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 10,816 | 9,072 |
Non-Acquired Loan [Member] | Auto and Leasing [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 16,674 | 14,255 |
Acquired loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 105,810 | 69,517 |
Acquired loans [Member] | Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 5,473 | 4,597 |
Acquired loans [Member] | Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Commercial Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 22 | 65 |
Acquired loans [Member] | Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Consumer Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 3,057 | 1,211 |
Acquired loans [Member] | Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Auto Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 2,394 | 3,321 |
Acquired loans [Member] | Acquired BBVAPR accounted under ASC 310-30 [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 19,986 | 13,481 |
Acquired loans [Member] | Acquired BBVAPR accounted under ASC 310-30 [Member] | Mortgage Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 473 | 0 |
Acquired loans [Member] | Acquired BBVAPR accounted under ASC 310-30 [Member] | Commercial Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 16,567 | 13,476 |
Acquired loans [Member] | Acquired BBVAPR accounted under ASC 310-30 [Member] | Consumer Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 84 | 5 |
Acquired loans [Member] | Acquired BBVAPR accounted under ASC 310-30 [Member] | Auto Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 2,862 | 0 |
Eurobank Acquired Loans | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 90,332 | 64,245 |
Eurobank Acquired Loans | Consumer Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 367 | 389 |
Eurobank Acquired Loans | Loans secured by 1-4 family residential properties, covered [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 32,685 | 15,522 |
Eurobank Acquired Loans | Commercial and Other Construction Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | $ 57,280 | $ 48,334 |
Allowance for Loan and Lease 75
Allowance for Loan and Lease Losses (Allowance for loan and lease losses) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Provision For Loan And Lease Losses | $ 109,311 | |||
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 4,597 | |||
Non-Acquired Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | $ 78,989 | $ 50,638 | 51,439 | $ 49,081 |
Charge-offs | (12,867) | (11,622) | (36,909) | (27,621) |
Recoveries | 3,770 | 2,694 | 11,499 | 7,194 |
Provision For Loan And Lease Losses | 10,459 | 8,569 | 54,322 | 21,625 |
Balance at end of period | 80,351 | 50,279 | 80,351 | 50,279 |
Acquired loans [Member] | Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 5,529 | 3,444 | 4,597 | 2,354 |
Charge-offs | (2,275) | (3,408) | (7,281) | (10,368) |
Recoveries | 568 | 693 | 2,220 | 1,932 |
Provision For Loan And Lease Losses | 1,651 | 3,731 | 5,937 | 10,542 |
Balance at end of period | 5,473 | 4,460 | 5,473 | 4,460 |
Acquired loans [Member] | Acquired BBVAPR accounted under ASC 310-30 [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 18,359 | 6,278 | 13,481 | 2,863 |
Charge-offs | (4,352) | (4,352) | ||
Provision For Loan And Lease Losses | 5,979 | 3,842 | 10,857 | 7,257 |
Balance at end of period | 19,986 | 10,120 | 19,986 | 10,120 |
Mortgage Loan [Member] | Non-Acquired Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 18,076 | 19,062 | 19,679 | 19,937 |
Charge-offs | (1,058) | (1,563) | (3,829) | (3,764) |
Recoveries | 270 | 138 | 338 | 374 |
Provision For Loan And Lease Losses | 4 | 1,235 | 1,104 | 2,325 |
Balance at end of period | 17,292 | 18,872 | 17,292 | 18,872 |
Mortgage Loan [Member] | Acquired loans [Member] | Acquired BBVAPR accounted under ASC 310-30 [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 473 | 0 | 0 | 0 |
Charge-offs | 0 | 0 | ||
Provision For Loan And Lease Losses | 0 | 0 | 473 | 0 |
Balance at end of period | 473 | 0 | 473 | 0 |
Commercial Loan [Member] | Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 65 | |||
Commercial Loan [Member] | Non-Acquired Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 34,779 | 12,423 | 8,432 | 14,897 |
Charge-offs | (828) | (1,081) | (2,317) | (2,043) |
Recoveries | 63 | 56 | 372 | 269 |
Provision For Loan And Lease Losses | 1,510 | (2,286) | 29,037 | (4,011) |
Balance at end of period | 35,524 | 9,112 | 35,524 | 9,112 |
Commercial Loan [Member] | Acquired loans [Member] | Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 54 | 464 | 65 | 926 |
Charge-offs | (22) | (228) | (38) | (512) |
Recoveries | 7 | 35 | 24 | 65 |
Provision For Loan And Lease Losses | (17) | (1) | (29) | (209) |
Balance at end of period | 22 | 270 | 22 | 270 |
Commercial Loan [Member] | Acquired loans [Member] | Acquired BBVAPR accounted under ASC 310-30 [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 14,940 | 6,216 | 13,476 | 1,713 |
Charge-offs | (4,352) | (4,352) | ||
Provision For Loan And Lease Losses | 5,979 | 3,899 | 7,443 | 8,402 |
Balance at end of period | 16,567 | 10,115 | 16,567 | 10,115 |
Consumer Loan [Member] | Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 1,211 | |||
Consumer Loan [Member] | Non-Acquired Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 10,464 | 7,887 | 9,072 | 6,006 |
Charge-offs | (2,471) | (1,585) | (6,456) | (3,820) |
Recoveries | 186 | 66 | 729 | 457 |
Provision For Loan And Lease Losses | 2,637 | 2,341 | 7,471 | 6,066 |
Balance at end of period | 10,816 | 8,709 | 10,816 | 8,709 |
Consumer Loan [Member] | Acquired loans [Member] | Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 2,616 | 338 | 1,211 | 0 |
Charge-offs | (1,103) | (1,432) | (3,789) | (5,442) |
Recoveries | 59 | 139 | 622 | 363 |
Provision For Loan And Lease Losses | 1,485 | 1,986 | 5,013 | 6,110 |
Balance at end of period | 3,057 | 1,031 | 3,057 | 1,031 |
Consumer Loan [Member] | Acquired loans [Member] | Acquired BBVAPR accounted under ASC 310-30 [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 84 | 62 | 5 | 418 |
Charge-offs | 0 | 0 | ||
Provision For Loan And Lease Losses | 0 | (57) | 79 | (413) |
Balance at end of period | 84 | 5 | 84 | 5 |
Auto Loan [Member] | Acquired loans [Member] | Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 2,859 | 2,642 | 3,321 | 1,428 |
Charge-offs | (1,150) | (1,748) | (3,454) | (4,414) |
Recoveries | 502 | 519 | 1,574 | 1,504 |
Provision For Loan And Lease Losses | 183 | 1,746 | 953 | 4,641 |
Balance at end of period | 2,394 | 3,159 | 2,394 | 3,159 |
Auto Loan [Member] | Acquired loans [Member] | Acquired BBVAPR accounted under ASC 310-30 [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 2,862 | 0 | 0 | 732 |
Charge-offs | 0 | 0 | ||
Provision For Loan And Lease Losses | 0 | 0 | 2,862 | (732) |
Balance at end of period | 2,862 | 0 | 2,862 | 0 |
Auto and Leasing Portfolio Segment | Non-Acquired Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 15,064 | 11,127 | 14,255 | 7,866 |
Charge-offs | (8,510) | (7,393) | (24,307) | (17,994) |
Recoveries | 3,251 | 2,434 | 10,060 | 6,094 |
Provision For Loan And Lease Losses | 6,869 | 7,236 | 16,666 | 17,438 |
Balance at end of period | 16,674 | 13,404 | 16,674 | 13,404 |
Unallocated Financing Receivables | Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 0 | |||
Unallocated Financing Receivables | Non-Acquired Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 606 | 139 | 1 | 375 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision For Loan And Lease Losses | (561) | 43 | 44 | (193) |
Balance at end of period | 45 | 182 | 45 | 182 |
Unallocated Financing Receivables | Acquired loans [Member] | Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 0 | 0 | 0 | 0 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision For Loan And Lease Losses | 0 | 0 | 0 | 0 |
Balance at end of period | $ 0 | $ 0 | $ 0 | $ 0 |
Allowance for Loan and Lease 76
Allowance for Loan and Lease Losses (Gross Loan and Allowance for loan and lease losses) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | $ 4,641,044 | $ 4,941,587 | ||||
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 5,473 | 4,597 | $ 4,460 | |||
Financing Receivable, Allowance for Credit Losses | 4,597 | |||||
Financing Receivable, Individually Evaluated for Impairment | 485 | 672 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 171,145 | 242,129 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 171,630 | 242,801 | ||||
Non-Acquired Loan [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 35,058 | 9,809 | ||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 45,293 | 41,630 | ||||
Financing Receivable, Allowance for Credit Losses | 80,351 | $ 78,989 | 51,439 | 50,279 | $ 50,638 | $ 49,081 |
Financing Receivable, Individually Evaluated for Impairment | 323,644 | 330,455 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 2,703,645 | 2,513,370 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 3,027,289 | 2,843,825 | ||||
Mortgage Loan [Member] | Non-Acquired Loan [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 8,249 | 8,968 | ||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 9,043 | 10,711 | ||||
Financing Receivable, Allowance for Credit Losses | 17,292 | 18,076 | 19,679 | 18,872 | 19,062 | 19,937 |
Financing Receivable, Individually Evaluated for Impairment | 90,530 | 94,185 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 672,106 | 697,566 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 762,636 | 791,751 | ||||
Commercial Loan [Member] | Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 22 | 65 | 270 | |||
Financing Receivable, Allowance for Credit Losses | 65 | |||||
Financing Receivable, Individually Evaluated for Impairment | 485 | 672 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 7,251 | 12,003 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 7,736 | 12,675 | ||||
Commercial Loan [Member] | Non-Acquired Loan [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 26,809 | 841 | ||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 8,715 | 7,591 | ||||
Financing Receivable, Allowance for Credit Losses | 35,524 | 34,779 | 8,432 | 9,112 | 12,423 | 14,897 |
Financing Receivable, Individually Evaluated for Impairment | 233,114 | 236,270 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 1,156,239 | 1,053,462 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 1,389,353 | 1,289,732 | ||||
Consumer Loan [Member] | Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 3,057 | 1,211 | 1,031 | |||
Financing Receivable, Allowance for Credit Losses | 1,211 | |||||
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 39,774 | 45,344 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 39,774 | 45,344 | ||||
Consumer Loan [Member] | Non-Acquired Loan [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 | 10,816 | 9,072 | ||||
Financing Receivable, Allowance for Credit Losses | 10,816 | 10,464 | 9,072 | 8,709 | 7,887 | 6,006 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 227,756 | 186,760 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 227,756 | 186,760 | ||||
Auotomobile Loans Portfolio Segment | Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 2,394 | 3,321 | 3,159 | |||
Financing Receivable, Allowance for Credit Losses | 2,394 | 3,321 | ||||
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 124,120 | 184,782 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 124,120 | 184,782 | ||||
Auto and Leasing [Member] | Non-Acquired Loan [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 | 16,674 | 14,255 | ||||
Financing Receivable, Allowance for Credit Losses | 16,674 | 15,064 | 14,255 | 13,404 | 11,127 | 7,866 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 647,544 | 575,582 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 647,544 | 575,582 | ||||
Unallocated Financing Receivables | Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 0 | 0 | 0 | |||
Financing Receivable, Allowance for Credit Losses | 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-Acquired Loan [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 | 45 | 1 | ||||
Financing Receivable, Allowance for Credit Losses | 45 | $ 606 | 1 | $ 182 | $ 139 | $ 375 |
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 77
Allowance for Loan and Lease Losses (Allowance for Acquired Eurobank Loan and Lease Losses) (Details) - Eurobank Acquired Loans - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Loan Receivable Type | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at beginning of period | $ 71,452 | $ 59,515 | $ 64,245 | $ 52,729 |
Provision for loan and lease losses, net | 33,490 | 1,115 | 38,194 | 4,339 |
Charge-offs | (14,610) | (14,610) | ||
FDIC shared-loss portion of provision for (recapture of) loan and lease losses, net | 1,597 | 2,503 | 5,159 | |
Balance at end of period | 90,332 | 62,227 | 90,332 | 62,227 |
Loans secured by 1-4 family residential properties, covered [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at beginning of period | 17,593 | 14,924 | 15,522 | 12,495 |
Provision for loan and lease losses, net | 15,813 | (165) | 17,779 | 2,144 |
Charge-offs | (721) | (721) | ||
FDIC shared-loss portion of provision for (recapture of) loan and lease losses, net | 493 | 105 | 613 | |
Balance at end of period | 32,685 | 15,252 | 32,685 | 15,252 |
Commercial Loan [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at beginning of period | 53,470 | 43,976 | 48,334 | 39,619 |
Provision for loan and lease losses, net | 17,398 | 1,461 | 20,136 | 2,376 |
Charge-offs | (13,588) | (13,588) | ||
FDIC shared-loss portion of provision for (recapture of) loan and lease losses, net | 1,149 | 2,398 | 4,591 | |
Balance at end of period | 57,280 | 46,586 | 57,280 | 46,586 |
Consumer Loan [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at beginning of period | 389 | 615 | 389 | 615 |
Provision for loan and lease losses, net | 279 | (181) | 279 | (181) |
Charge-offs | (301) | (301) | ||
FDIC shared-loss portion of provision for (recapture of) loan and lease losses, net | (45) | 0 | (45) | |
Balance at end of period | 367 | 389 | 367 | 389 |
Auto and Leasing [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at beginning of period | 0 | 0 | 0 | 0 |
Provision for loan and lease losses, net | 0 | 0 | 0 | 0 |
Charge-offs | 0 | 0 | ||
FDIC shared-loss portion of provision for (recapture of) loan and lease losses, net | 0 | 0 | 0 | |
Balance at end of period | $ 0 | $ 0 | $ 0 | $ 0 |
FDIC Indemnification Indemnific
FDIC Indemnification Indemnification Asset and True-up Payment Obligation (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2015 | Sep. 30, 2014 | |
FDIC-Assisted Acquisition [Abstract] | |||
Percent Of Losses Fdic Absorbs | 80.00% | 80.00% | |
Percent Of Losses Recoveries Fdic Shares | 80.00% | 80.00% | |
FDIC Assisted Transaction Description | Also in connection with the FDIC assisted acquisition, the Bank agreed to make a true-up payment, also known as a 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 premium (discount) of ($227.5 million) (or ($56.9 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 $24.4 million and $22.0 million, net of discount, as of September 30, 2015 and December 31, 2014, respectively. The estimated liability is included within accrued expenses and other liabilities in the unaudited consolidated statements of financial condition. The true-up payment obligation, also known as clawback liability, may increase if actual and expected losses decline. The Company measures the true-up payment obligation at fair value. During the quarters and nine-month periods ended September 30, 2015 and 2014 the fair value of the true-up payment obligation increased by $864 thousand and $2.5 million and $875 thousand and $2.6 million, respectively. These changes in fair value are included as change in true-up payment obligation within FDIC shared-loss expense, net, in the unaudited consolidated statements of operations. | ||
FDIC Indemnification Asset Noncash Payments Received | $ 25,000 | ||
Change in additional amortization of the FDIC indemnification asset | $ 2,300 | $ 594 |
FDIC Indemnification Asset an79
FDIC Indemnification Asset and True-up Payment Obligation (FDIC Indemnification Asset Roll Forward) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
FDIC Indemnification Asset [Roll Forward] | ||||
Balance | $ 22,704 | $ 143,660 | $ 97,378 | $ 189,240 |
Indemnification agreements reimbursements from FDIC | 0 | (12,837) | (17,171) | (31,537) |
Shared-loss agreements reimbursements expected from the FDIC | 0 | 0 | (20,917) | 0 |
Increase (decrease) in expected credit losses to be covered under shared-loss agreements, net | 0 | 1,597 | 2,503 | 5,159 |
FDIC indemnification asset, expense | 1,215 | 16,059 | 35,948 | 51,180 |
Incurred expenses to be reimbursed under shared-loss agreements | 1,406 | 4,258 | (2,950) | 8,937 |
Balance | 22,895 | 120,619 | 22,895 | 120,619 |
True-up payment obligation [Roll Forward] | ||||
Balance | 23,577 | 20,231 | 21,981 | 18,510 |
Change in true-up payment obligation expense | 864 | 875 | 2,460 | 2,596 |
Balance | $ 24,441 | $ 21,106 | $ 24,441 | $ 21,106 |
FDIC Indemnification Asset an80
FDIC Indemnification Asset and True-up Payment Obligation (Fair value and the undiscounted amount of the true-up payment obligation) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
FDIC-Assisted Acquisition [Abstract] | ||
Business Combination Contingent Consideration Liability | $ 24,441 | $ 21,981 |
Business Combination Contingent Consideration Potential Cash Payment | $ 33,385 | $ 40,266 |
Premises and Equipment (Details
Premises and Equipment (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Property Plant And Equipment Line Items | ||
Total Premises and Equipment, net | $ 75,346 | $ 80,599 |
Servicing Assets (Narratives) (
Servicing Assets (Narratives) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | |
Servicing Assets At Fair Value Line Items | ||||||||
Servicing Asset at Fair Value, Amount | $ 6,463 | $ 13,986 | $ 6,463 | $ 13,986 | $ 5,791 | $ 13,992 | $ 13,970 | $ 13,801 |
Servicing fee | $ 374 | 705 | 190 | 341 | ||||
Proceeds from the sale of Mortgage Servicing Rights | $ 0 | 5,927 | $ 0 | |||||
Loss on MSR Held-for-Sale | $ (2,700) |
Servicing Assets (Changes in se
Servicing Assets (Changes in serving rights at fair value) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Servicing Asset At Fair Value Amount Roll Forward | ||||
Fair value | $ 5,791 | $ 13,970 | $ 13,992 | $ 13,801 |
Sale of Mortgage Servicing Rights | 0 | 0 | 6,985 | |
Servicing from mortgage securitizations or asset transfers | 748 | 554 | 2,808 | 1,608 |
Changes due to payments on loans | (242) | (427) | (974) | (799) |
Changes in fair value due to sales price of mortgage servicing rights held-for-sale | 166 | (111) | 338 | (624) |
Changes in fair value due to changes in valuation model inputs or assumptions | 0 | 0 | (2,716) | 0 |
Fair value | $ 6,463 | $ 13,986 | $ 6,463 | $ 13,986 |
Servicing Assets (Key Economic
Servicing Assets (Key Economic Assumptions) (Details) - Mortgage related servicing assets [Member] | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Minimum [Member] | ||
Servicing Assets At Fair Value Line Items | ||
Constant prepayment rate | 5.49% | 5.60% |
Servicing Assets And Servicing Liabilities At Fair Value Assumptions Used To Estimate Fair Value Discount Rate | 10.00% | 10.00% |
Maximum [Member] | ||
Servicing Assets At Fair Value Line Items | ||
Constant prepayment rate | 10.58% | 10.08% |
Servicing Assets And Servicing Liabilities At Fair Value Assumptions Used To Estimate Fair Value Discount Rate | 12.00% | 12.00% |
Servicing Assets (Sensitivity o
Servicing Assets (Sensitivity of current fair value of servicing assets) (Details) - Traditional loan $ in Thousands | Sep. 30, 2015USD ($) |
Servicing Assets At Fair Value Line Items | |
Servicing Asset | $ 6,463 |
Constant Prepayment Rate - Decrease in fair value due to 10% adverse change | (183) |
Constant Prepayment Rate - Decrease in fair value due to 20% adverse change | (356) |
Discount Rate - Decrease in fair value due to 10% adverse change | (256) |
Discount Rate - Decrease in fair value due to 20% adverse change | $ (493) |
Derivative Activities (Narrativ
Derivative Activities (Narratives) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Notional Amount Purchased Option | $ 3.4 | $ 10.7 |
Embedded Derivative, Fair Value of Embedded Derivative Liability | 1 | 5.5 |
Notional Amount Embedded Option | 3.2 | $ 10.5 |
Interest Rate Cap [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative, Notional Amount | $ 109.9 |
Derivative Activities (Derivati
Derivative Activities (Derivative Assets and Liabilities) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Derivative Assets Liabilities At Fair Value Net [Line Items] | ||
Derivative Assets | $ 3,290 | $ 8,107 |
Derivative Liabilities | 8,622 | 11,221 |
Options tied to Standard & Poor 500 Stock Market Index [Member] | ||
Derivative Assets Liabilities At Fair Value Net [Line Items] | ||
Derivative Assets | 1,115 | 5,555 |
Designated as Hedging Instrument [Member] | ||
Derivative Assets Liabilities At Fair Value Net [Line Items] | ||
Derivative Liabilities | 6,395 | 8,585 |
Not Designated as Hedging Instrument [Member] | ||
Derivative Assets Liabilities At Fair Value Net [Line Items] | ||
Derivative Assets | 2,139 | 2,399 |
Derivative Liabilities | 2,139 | 2,399 |
Interest Rate Cap [Member] | ||
Derivative Assets Liabilities At Fair Value Net [Line Items] | ||
Derivative Assets | 36 | 152 |
Derivative Liabilities | 36 | 152 |
Other derivative | ||
Derivative Assets Liabilities At Fair Value Net [Line Items] | ||
Derivative Assets | 0 | 1 |
Derivative Liabilities | $ 52 | $ 85 |
Derivative Activities (Interest
Derivative Activities (Interest rate swap and their term) (Details) $ in Thousands | 3 Months Ended |
Sep. 30, 2015USD ($) | |
Interest rate swap designated as cash flow hedges | |
Derivative [Line Items] | |
Amount | $ 263,322 |
Interest rate swap designated as cash flow hedges | Rate 2.4365% [Member] | |
Derivative [Line Items] | |
Amount | $ 25,000 |
Fixed rate | 2.44% |
Trade Date | May 5, 2011 |
Settlement Date | May 4, 2012 |
Maturity Date | May 4, 2016 |
Interest rate swap designated as cash flow hedges | Rate 2.6200% [Member] | |
Derivative [Line Items] | |
Amount | $ 25,000 |
Fixed rate | 2.62% |
Trade Date | May 5, 2011 |
Settlement Date | Jul. 24, 2012 |
Maturity Date | Jul. 24, 2016 |
Interest rate swap designated as cash flow hedges | Rate 2.6350% [Member] | |
Derivative [Line Items] | |
Amount | $ 25,000 |
Fixed rate | 2.64% |
Trade Date | May 5, 2011 |
Settlement Date | Jul. 30, 2012 |
Maturity Date | Jul. 30, 2016 |
Interest rate swap designated as cash flow hedges | Rate 2.6590% [Member] | |
Derivative [Line Items] | |
Amount | $ 50,000 |
Fixed rate | 2.66% |
Trade Date | May 5, 2011 |
Settlement Date | Aug. 10, 2012 |
Maturity Date | Aug. 10, 2016 |
Interest rate swap designated as cash flow hedges | Rate 2.6750% [Member] | |
Derivative [Line Items] | |
Amount | $ 100,000 |
Fixed rate | 2.68% |
Trade Date | May 5, 2011 |
Settlement Date | Aug. 16, 2012 |
Maturity Date | Aug. 16, 2016 |
Interest rate swap designated as cash flow hedges | Rate 2.4210% [Member] | |
Derivative [Line Items] | |
Amount | $ 38,322 |
Fixed rate | 2.42% |
Trade Date | Jul. 3, 2013 |
Settlement Date | Jul. 3, 2013 |
Maturity Date | Aug. 1, 2023 |
Interest rate swaps not designated as hedges - offered to clients | |
Derivative [Line Items] | |
Amount | $ 16,319 |
Interest rate swaps not designated as hedges - offered to clients | |
Derivative [Line Items] | |
Amount | $ 16,319 |
Derivative Activities (Intere89
Derivative Activities (Interest rate swap not designated as hedging instruments and their term) (Details) $ in Thousands | 3 Months Ended |
Sep. 30, 2015USD ($) | |
Derivatives Offered to Clients [Member] | |
Derivative [Line Items] | |
Amount | $ 16,319 |
Derivatives Offered to Clients [Member] | Rate 5.13% [Member] | |
Derivative [Line Items] | |
Amount | $ 3,819 |
Fixed rate | 5.13% |
Settlement Date | Jul. 3, 2006 |
Maturity Date | Jul. 3, 2016 |
Derivatives Offered to Clients [Member] | Rate 5.51% [Member] | |
Derivative [Line Items] | |
Amount | $ 12,500 |
Fixed rate | 5.51% |
Settlement Date | Apr. 11, 2009 |
Maturity Date | Apr. 11, 2019 |
Mirror Image Derivatives [Member] | |
Derivative [Line Items] | |
Amount | $ 16,319 |
Mirror Image Derivatives [Member] | Rate 5.13% [Member] | |
Derivative [Line Items] | |
Amount | $ 3,819 |
Fixed rate | 5.13% |
Settlement Date | Jul. 3, 2006 |
Maturity Date | Jul. 3, 2016 |
Mirror Image Derivatives [Member] | Rate 5.51% [Member] | |
Derivative [Line Items] | |
Amount | $ 12,500 |
Fixed rate | 5.51% |
Settlement Date | Apr. 11, 2009 |
Maturity Date | Apr. 11, 2019 |
Accrued Interest and Other Asse
Accrued Interest and Other Assets (Narratives) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | Dec. 18, 2012 |
Other assets [Line Items] | |||
Prepaid Taxes | $ 9,300 | $ 9,600 | |
Mortgage tax credits | 6,277 | 6,277 | |
Other Intangible Assets | 2,700 | ||
Repossessed auto | 8,300 | 20,700 | |
CoreDepositsMember | Eurobank [Member] | |||
Other assets [Line Items] | |||
Other Intangible Assets | $ 5,600 | 6,500 | |
Customer Relationships [Member] | BBVAPR | |||
Other assets [Line Items] | |||
Other Intangible Assets | $ 3,300 | $ 5,000 |
Accrued Interest Receivable a91
Accrued Interest Receivable and Other Assets (Accrued Interest)(Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Accounts Receivable Net Abstract | ||
Accrued Interest Receivable On Non Covered Loans | $ 13,953 | $ 17,005 |
Accrued Investment Income Receivable | 4,672 | 4,340 |
Total Interest Receivable | $ 18,625 | $ 21,345 |
Accrued Interest and Other As92
Accrued Interest and Other Assets (Other assets) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Other asset | ||
FDIC Certification Receivable | $ 44,849 | $ 14,974 |
Other prepaid expenses | 14,151 | 16,018 |
Proceeds from sale of covered loans receivable | 12,989 | 0 |
Other repossessed assets | 8,948 | 21,800 |
Core deposit intangible and customer relationship intangibles | 8,314 | 9,743 |
Mortgage tax credits | 6,277 | 6,277 |
Investment in Statutory Trust | 1,083 | 1,083 |
Accounts receivable and other assets | 44,433 | 38,830 |
Other assets | $ 141,044 | $ 108,725 |
Deposits and Related Interest93
Deposits and Related Interest (Narratives) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Deposits [Abstract] | ||
Weighted Average Rate Domestic Deposit | 0.56% | 0.66% |
Puerto Rico Cash & Money Market Fund Deposits | $ 102,800 | $ 96,800 |
Puerto Rico Cash & Money Market Fund Deposits Weighted Average Rate | 0.77% | 0.78% |
Puerto Rico Cash & Money Market Fund Deposits Collateral | $ 83,200 | $ 76,300 |
Time Deposits, $100,000 or More | 574,400 | 608,100 |
Public Fund Time Deposits, $100,000 or more | $ 9,800 | $ 6,900 |
Public Fund Time Deposits Weighted Average Rate, $100,000 or more | 0.52% | 0.50% |
Public funds deposit | $ 175,000 | $ 318,500 |
Public Fund Time Deposits Collateral Commercial Loans | 411,400 | 414,500 |
Accrued Interest, Time Deposits | 1,100 | |
Unamortized deposit discounts | 381 | |
Bank Overdrafts | 682 | 845 |
Brokered Certificates of Deposits | 577,600 | 526,200 |
Brokered Money Market Deposit | 75,500 | $ 93,100 |
Equity indexed option | $ 1,000 |
Deposits and Related Interest94
Deposits and Related Interest (Deposits by Components) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Deposits, by Component, Alternative [Abstract] | ||
Noninterest-bearing demand deposit | $ 792,110 | $ 745,570 |
Interest-bearing saving and demand deposits | 2,330,018 | 2,544,664 |
Individual Retirement Account | 272,276 | 302,622 |
Retail certificates of deposists | 456,320 | 452,150 |
Institutional certificates of deposits | 213,224 | 260,090 |
Total Core Deposits | 4,063,948 | 4,305,096 |
Brokered Deposists | 653,126 | 619,310 |
Deposits, Total | $ 4,717,074 | $ 4,924,406 |
Deposits and Related Interest95
Deposits and Related Interest (Interest expense) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Interest Expense Domestic Deposit Liabilities [Abstract] | ||||
Demand and saving deposits | $ 2,987 | $ 4,003 | $ 9,469 | $ 13,834 |
Certificates of Deposits | 3,664 | 3,658 | 10,890 | 11,970 |
Total | $ 6,651 | $ 7,661 | $ 20,359 | $ 25,804 |
Deposits and Related Interest96
Deposits and Related Interest (Maturities of Time Deposits) (Details) $ in Thousands | Sep. 30, 2015USD ($) |
Maturities of Time Deposits [Abstract] | |
Time Deposit Maturities Less Than Three Month | $ 207,581 |
Time Deposit Maturities Three To Twelve Month | 738,878 |
Total Time deposits | 946,459 |
Time Deposit Maturities, Year Two | 396,619 |
Time Deposit Maturities, Year Three | 113,719 |
Time Deposit Maturities, Year Four | 13,027 |
Time Deposit Maturities, Year Five | 47,020 |
Certificates of deposit | $ 1,516,844 |
Borrowings (Narrative) (Details
Borrowings (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Debt Instrument [Line Items] | ||
Other borrowings | $ 1,734 | $ 4,004 |
Subordinated Debt | 102,371 | 101,584 |
Federal Home Loan Bank Advances [Member] | ||
Debt Instrument [Line Items] | ||
Loans Receivable, Gross, Commercial, Mortgage | 1,100,000 | 1,200 |
Additional Borrowing Capacity | $ 600,400 | $ 606,600 |
Weighted average period remaining maturity of FHLB advances | 6.9 months | 8.8 months |
Interest Payable | $ 343 | |
Repurchase agreement | ||
Debt Instrument [Line Items] | ||
Interest Payable | $ 2,100 | $ 2,300 |
Borrowings (Securities Sold Und
Borrowings (Securities Sold Under Agreement to Repurchase by Counterparties) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Debt Instrument [Line Items] | ||
Borrowings | $ 1,437,705 | $ 1,420,006 |
Securities Sold under Agreements to Repurchase [Member] | ||
Debt Instrument [Line Items] | ||
Borrowings | 998,532 | 977,816 |
Fair Value of Underlying Collateral | 1,099,378 | 1,088,525 |
Securities Sold under Agreements to Repurchase [Member] | Jp Morgan Chase Bank Na [Member] | ||
Debt Instrument [Line Items] | ||
Borrowings | 328,532 | 670,000 |
Fair Value of Underlying Collateral | 354,353 | 328,198 |
Securities Sold under Agreements to Repurchase [Member] | Credit Suisse Securities LLC [Member] | ||
Debt Instrument [Line Items] | ||
Borrowings | 670,000 | 307,816 |
Fair Value of Underlying Collateral | $ 745,025 | $ 760,327 |
Borrowings (Repurchase Agreemen
Borrowings (Repurchase Agreements) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2014 | |
Debt Instrument [Line Items] | ||
Borrowing Balance | $ 1,437,705 | $ 1,420,006 |
Securities Sold under Agreements to Repurchase [Member] | ||
Debt Instrument [Line Items] | ||
Borrowing Balance | $ 998,532 | $ 977,816 |
Weighted Average Coupon | 2.921% | |
Securities Sold under Agreements to Repurchase [Member] | Due Date: 10 1 2015 [Member] | ||
Debt Instrument [Line Items] | ||
Borrowing Balance | $ 57,400 | |
Weighted Average Coupon | 0.50% | |
Settlement Date | Aug. 20, 2015 | |
Investment Repurchase Agreement, Repurchase Date | Oct. 1, 2015 | |
Securities Sold under Agreements to Repurchase [Member] | Due Date: 10 22 2015 [Member] | ||
Debt Instrument [Line Items] | ||
Borrowing Balance | $ 31,132 | |
Weighted Average Coupon | 0.47% | |
Settlement Date | Sep. 22, 2015 | |
Investment Repurchase Agreement, Repurchase Date | Oct. 22, 2015 | |
Securities Sold under Agreements to Repurchase [Member] | Due date: 12 8 2016 [Member] | ||
Debt Instrument [Line Items] | ||
Borrowing Balance | $ 170,000 | |
Weighted Average Coupon | 1.50% | |
Settlement Date | Dec. 6, 2012 | |
Investment Repurchase Agreement, Repurchase Date | Dec. 8, 2016 | |
Securities Sold under Agreements to Repurchase [Member] | Due date: 9 30 2016 [Member] | ||
Debt Instrument [Line Items] | ||
Borrowing Balance | $ 240,000 | |
Weighted Average Coupon | 0.95% | |
Settlement Date | Dec. 10, 2012 | |
Investment Repurchase Agreement, Repurchase Date | Sep. 30, 2016 | |
Securities Sold under Agreements to Repurchase [Member] | Due date: 3 2 2017 [Member] | ||
Debt Instrument [Line Items] | ||
Borrowing Balance | $ 500,000 | |
Weighted Average Coupon | 4.78% | |
Settlement Date | Mar. 2, 2007 | |
Investment Repurchase Agreement, Repurchase Date | Mar. 2, 2017 |
Borrowings (Repurchase Transact
Borrowings (Repurchase Transaction Liability and Market Value of its Underlying Collateral) (Details) - Securities Sold under Agreements to Repurchase [Member] - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Assets Sold Under Agreements To Repurchase Line Items | ||
Assets Sold Under Agreements To Repurchase Repurchase Liability | $ 998,532 | $ 977,816 |
Assets Sold Under Agreements To Repurchase Interest Rate | 2.92% | 2.89% |
Market value of underlying collateral of a repurchase agreement | $ 1,099,378 | $ 1,088,525 |
FNMA and FHLMC [Member] | ||
Assets Sold Under Agreements To Repurchase Line Items | ||
Market value of underlying collateral of a repurchase agreement | 1,096,949 | 1,087,272 |
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 | 2,429 | 1,253 |
Maturity up to 30 days | ||
Assets Sold Under Agreements To Repurchase Line Items | ||
Assets Sold Under Agreements To Repurchase Repurchase Liability | $ 88,532 | $ 52,816 |
Assets Sold Under Agreements To Repurchase Interest Rate | 0.49% | 0.39% |
Market value of underlying collateral of a repurchase agreement | $ 95,023 | $ 56,066 |
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 | 95,023 | 56,066 |
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 | 0 |
Maturity over 90 days | ||
Assets Sold Under Agreements To Repurchase Line Items | ||
Assets Sold Under Agreements To Repurchase Repurchase Liability | $ 910,000 | $ 925,000 |
Assets Sold Under Agreements To Repurchase Interest Rate | 3.16% | 2.83% |
Market value of underlying collateral of a repurchase agreement | $ 1,004,355 | $ 1,032,459 |
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 | 1,001,926 | 1,031,206 |
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 | $ 2,429 | $ 1,253 |
Borrowings (Advances from the F
Borrowings (Advances from the Federal Home Loan Bank) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2014 | |
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 1,437,705 | $ 1,420,006 |
Federal Home Loan Bank Advances [Member] | ||
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 332,593 | |
FHLB, Weighted Average Interest Rate | 0.83% | |
Federal Home Loan Bank Advances [Member] | April 3, 2017 [Member] | Four Million [Member] | ||
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 4,326 | |
FHLB, Weighted Average Interest Rate | 1.24% | |
Settlement Date | Apr. 3, 2012 | |
Maturity Date | Apr. 3, 2017 | |
Federal Home Loan Bank Advances [Member] | January 16, 2018 [Member] | Twenty Five Millions [Member] | ||
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 25,000 | |
FHLB, Weighted Average Interest Rate | 2.18% | |
Settlement Date | Jan. 16, 2013 | |
Maturity Date | Jan. 16, 2018 | |
Federal Home Loan Bank Advances [Member] | January 16, 2018 [Member] | Thirty Million [Member] | ||
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 30,000 | |
FHLB, Weighted Average Interest Rate | 2.19% | |
Settlement Date | Jan. 16, 2013 | |
Maturity Date | Jan. 16, 2018 | |
Federal Home Loan Bank Advances [Member] | July 20, 2020 [Member] | Ten Million [Member] | ||
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 9,945 | |
FHLB, Weighted Average Interest Rate | 2.59% | |
Settlement Date | Jul. 19, 2013 | |
Maturity Date | Jul. 20, 2020 | |
Federal Loan Home Bank Advances Short Term Period Matured [Member] | ||
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 263,322 | |
Federal Loan Home Bank Advances Short Term Period Matured [Member] | October 5, 2015 [Member] | Twenty Five Millions [Member] | ||
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 25,000 | |
FHLB, Weighted Average Interest Rate | 0.47% | |
Settlement Date | Sep. 4, 2015 | |
Maturity Date | Oct. 5, 2015 | |
Federal Loan Home Bank Advances Short Term Period Matured [Member] | October 13, 2015 [Member] | Fifty Millions [Member] | ||
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 50,000 | |
FHLB, Weighted Average Interest Rate | 0.48% | |
Settlement Date | Sep. 10, 2015 | |
Maturity Date | Oct. 13, 2015 | |
Federal Loan Home Bank Advances Short Term Period Matured [Member] | October 16, 2015 [Member] | One Hundred Millions [Member] | ||
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 100,000 | |
FHLB, Weighted Average Interest Rate | 0.53% | |
Settlement Date | Sep. 16, 2015 | |
Maturity Date | Oct. 16, 2015 | |
Federal Loan Home Bank Advances Short Term Period Matured [Member] | October 26, 2015 [Member] | Twenty Five Millions [Member] | ||
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 25,000 | |
FHLB, Weighted Average Interest Rate | 0.44% | |
Settlement Date | Sep. 24, 2015 | |
Maturity Date | Oct. 26, 2015 | |
Federal Loan Home Bank Advances Short Term Period Matured [Member] | October 30, 2015 [Member] | Twenty Five Millions [Member] | ||
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 25,000 | |
FHLB, Weighted Average Interest Rate | 0.40% | |
Settlement Date | Sep. 30, 2015 | |
Maturity Date | Oct. 30, 2015 | |
Federal Loan Home Bank Advances Short Term Period Matured [Member] | October 1, 2015 [Member] | Fourty Million [Member] | ||
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 38,322 | |
FHLB, Weighted Average Interest Rate | 0.41% | |
Settlement Date | Sep. 1, 2015 | |
Maturity Date | Oct. 1, 2015 |
Borrowings (Redemption Fund) (D
Borrowings (Redemption Fund) (Details) - Redemption Fund [Member] $ in Thousands | Sep. 30, 2015USD ($) |
Debt Instrument [Line Items] | |
Redemption fund - June 30, 2015 | $ 60,300 |
2,015 | 1,675 |
2,016 | 5,025 |
Total | $ 67,000 |
Offsetting Arrangements (Assets
Offsetting Arrangements (Assets Offsetting) (Details) - Derivative - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Offsetting Assets [Line Items] | ||
Gross Amount of Recognized Assets | $ 3,290 | $ 8,107 |
Gross amounts Offset in the Statement of Financial Condition | 0 | 0 |
Net Amount of Assets in Statement of Financial Condition | 3,290 | 8,107 |
Financial Instruments | 2,016 | 2,006 |
Cash Collateral Received | 0 | 0 |
Net Amount | $ 1,274 | $ 6,101 |
Offsetting Arrangement (Liabili
Offsetting Arrangement (Liabilities Offsetting) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Offsetting Liabilities [Line Items] | ||
Gross amount of Recognized Liabilities | $ 1,008,195 | $ 994,514 |
Gross amount Offset in the Statement of Financial Condition | 0 | 0 |
Net Amount of Liabilities Presented in the Statement of Financial Condition | 1,008,195 | 994,514 |
Financial Instruments | 1,099,378 | 1,088,525 |
Cash Collateral Provided | 2,980 | 2,980 |
Net Amount | (94,163) | (96,991) |
Derivative Financial Instruments, Liabilities [Member] | ||
Offsetting Liabilities [Line Items] | ||
Gross amount of Recognized Liabilities | 9,663 | 16,698 |
Gross amount Offset in the Statement of Financial Condition | 0 | 0 |
Net Amount of Liabilities Presented in the Statement of Financial Condition | 9,663 | 16,698 |
Financial Instruments | 0 | 0 |
Cash Collateral Provided | 2,980 | 2,980 |
Net Amount | 6,683 | 13,718 |
Securities Loaned or Sold under Agreements to Repurchase | ||
Offsetting Liabilities [Line Items] | ||
Gross amount of Recognized Liabilities | 998,532 | 977,816 |
Gross amount Offset in the Statement of Financial Condition | 0 | 0 |
Net Amount of Liabilities Presented in the Statement of Financial Condition | 998,532 | 977,816 |
Financial Instruments | 1,099,378 | 1,088,525 |
Cash Collateral Provided | 0 | 0 |
Net Amount | $ (100,846) | $ (110,709) |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Loans and Leases Receivable, Related Parties [Roll Forward] | ||||
Balance | $ 33,318 | $ 24,151 | $ 27,011 | $ 18,963 |
New loans | 5,866 | 319 | 14,166 | 13,489 |
Repayments and sales | (7,450) | 1,174 | (7,485) | (8,766) |
Balance | $ 31,734 | $ 25,644 | $ 31,734 | $ 25,644 |
Income Taxes (Narratives) (Deta
Income Taxes (Narratives) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Income Taxes [Abstract] | |||||
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | $ 122 | $ 122 | $ 470 | ||
Interest and Penalties Released Related to Unrecognized Tax Benefits | 200 | 200 | |||
Deferred Tax Assets, Net | 143,935 | 143,935 | 108,708 | ||
OtherComprehensiveIncomeLossTax | 284 | 447 | |||
Income Tax Expense (Benefit) | 562 | $ 7,998 | 2,310 | $ 30,396 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 2,100 | 2,100 | 2,600 | ||
International Banking Entity [Member] | |||||
OtherComprehensiveIncomeLossTax | $ 153 | $ 186 | |||
Other Comprehensive Income Loss Reclassification Adjustment From AOCIF or Sale Of Securities Tax | $ 11 | $ 33 | $ 158 | ||
IBE Tax Rate | 0.00% |
Income Taxes (Components of inc
Income Taxes (Components of income tax expense (benefit)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract | ||||
Deferred Income Tax Expense (Benefit) | $ (1,329) | $ 20,418 | ||
Income Tax Expense (Benefit) | $ 562 | $ 7,998 | $ 2,310 | $ 30,396 |
Income taxes (Effective Income
Income taxes (Effective Income Tax Rate Reconciliation) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
IncomeTaxExpenseBenefitContinuingOperationsIncomeTaxReconciliationAbstract | ||||
Total Income Tax Expense (Benefit) | $ 562 | $ 7,998 | $ 2,310 | $ 30,396 |
Income Taxes (Components of Def
Income Taxes (Components of Deferred Tax Assets) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Components Of Deferred Tax Liabilities Abstract | ||
Deferred Tax Assets, Net | $ 143,935 | $ 108,708 |
Regulatory Capital Requireme110
Regulatory Capital Requirements (Group's and the Bank's actual capital amounts and ratios) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Group [Member] | ||
Capital [Abstract] | ||
Actual - Total capital | $ 847,167 | $ 851,437 |
Actual - Tier 1 capital | 782,560 | 776,525 |
Actual -Common equity tier 1 capital | 601,788 | |
Actual - Tier 1 leverage capital | 782,560 | 776,525 |
Minimum Capital - Total Capital | 399,615 | 387,772 |
Minimum capital - Tier 1 capital | 299,711 | 193,886 |
Minimum capital - Common equity tier 1 capital | 224,783 | |
Minimum capital - Tier 1 leverage capital | 286,493 | 292,738 |
Minimum to be well capitalized - Total Capital | 499,519 | 484,715 |
Minimum to be well capitalized - Tier 1 capital | 399,615 | 290,829 |
Minimum to be well capitalized - Common equity tier 1 capital | 324,687 | |
Minimum to be well capitalized - Tier 1 leverage | $ 358,117 | $ 365,922 |
Risk Based Ratios [Abstract] | ||
Capital to Risk Weighted Assets | 16.96% | 17.57% |
Tier One Risk Based Capital to Risk Weighted Assets | 15.67% | 16.02% |
Common Equity Tier OneTo Risk Weighted Assets | 12.05% | |
Tier One Leverage Capital to Average Assets | 10.93% | 10.61% |
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 | 6.00% | 4.00% |
Common Equity Tier One Required For Capital Adequacy To Risk Weighted Assets | 4.50% | |
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 | 8.00% | 6.00% |
Tier One Risk Common Equity Tier One Required To Be Well Capitalized To Risk Weighted Assets | 6.50% | |
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 5.00% | 5.00% |
Bank [Member] | ||
Capital [Abstract] | ||
Actual - Total capital | $ 811,297 | $ 820,884 |
Actual - Tier 1 capital | 746,921 | 746,177 |
Actual -Common equity tier 1 capital | 746,921 | |
Actual - Tier 1 leverage capital | 746,921 | 746,177 |
Minimum Capital - Total Capital | 398,677 | 386,444 |
Minimum capital - Tier 1 capital | 299,008 | 193,222 |
Minimum capital - Common equity tier 1 capital | 224,256 | |
Minimum capital - Tier 1 leverage capital | 284,481 | 290,879 |
Minimum to be well capitalized - Total Capital | 498,346 | 483,055 |
Minimum to be well capitalized - Tier 1 capital | 398,677 | 289,833 |
Minimum to be well capitalized - Common equity tier 1 capital | 323,925 | |
Minimum to be well capitalized - Tier 1 leverage | $ 355,601 | $ 363,599 |
Risk Based Ratios [Abstract] | ||
Capital to Risk Weighted Assets | 16.28% | 16.99% |
Tier One Risk Based Capital to Risk Weighted Assets | 14.99% | 15.45% |
Common Equity Tier OneTo Risk Weighted Assets | 14.99% | |
Tier One Leverage Capital to Average Assets | 10.50% | 10.26% |
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 | 6.00% | 4.00% |
Common Equity Tier One Required For Capital Adequacy To Risk Weighted Assets | 4.50% | |
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 | 8.00% | 6.00% |
Tier One Risk Common Equity Tier One Required To Be Well Capitalized To Risk Weighted Assets | 6.50% | |
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 5.00% | 5.00% |
Stockholders' Equity (Narrative
Stockholders' Equity (Narrative) (Details) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2015USD ($)$ / sharesshares | Sep. 30, 2015USD ($)$ / sharesshares | Sep. 30, 2014USD ($)shares | Dec. 31, 2014USD ($) | |
Equity, Class of Treasury Stock [Line Items] | ||||
Stock Repurchase Program Authorized Amount1 | $ 70,000 | $ 70,000 | ||
Total number of shares purchased | shares | 803,985 | 803,985 | 707,500 | |
Treasury Stock, Value, Acquired, Cost Method | $ 8,950 | $ 10,394 | ||
Stock Repurchase Program Remaining Authorized Repurchase Amount1 | $ 7,700 | $ 7,700 | ||
Stock repurchase program remaining number of shares authorized to be repurchased | shares | 885,550 | 885,550 | ||
SharePrice | $ / shares | $ 8.73 | $ 8.73 | ||
Average Share Price | 11.1 | 11.1 | 14.66 | |
Preferred Stock [Member] | ||||
Equity, Class of Treasury Stock [Line Items] | ||||
Preferred Stock Issue Costs | $ 10,100 | $ 10,100 | ||
Common Stock [Member] | ||||
Equity, Class of Treasury Stock [Line Items] | ||||
Common Stock Issuance Cost | $ 13,600 | $ 13,600 | $ 13,600 |
Stockholders' Equity (Shares re
Stockholders' Equity (Shares repurchased under the stock repurchase program) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 |
Equity, Class of Treasury Stock [Line Items] | |||
Common shares repurchased as part of the stock repurchase program (Shares) | 803,985 | 707,500 | |
Treasury Stock, Value | $ 105,379 | $ 97,070 |
Stockholders' Equity (Common sh
Stockholders' Equity (Common shares held in treasury, activity) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Stockholders' Equity Note [Abstract] | ||
Beginning of period | 8,012,254 | 7,030,101 |
Common shares used for exercise of restricted stock units (Shares) | (58,279) | (36,294) |
Common shares repurchased as part of the stock repurchase program (Shares) | 803,985 | 707,500 |
End of period | 8,757,960 | 7,701,307 |
Beginning of period | $ 97,070 | $ 80,642 |
Common shares used for exercise of restricted stock units (Value) | (641) | (384) |
Stock purchased under the repurchase program | 8,950 | 10,394 |
End of period | $ 105,379 | $ 90,652 |
Accumulated Other Comprehens114
Accumulated Other Comprehensive Income (Accumulated Comprehensive Income, net of income tax) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Accumulated Other Comprehensive Income [Line Items] | |||||
Unrealized loss on securities available-for-sale which are other-than-temporarily impaired | $ (338) | $ 0 | $ (338) | $ 0 | |
Accumulated other comprehensive income, net of tax, Total | 18,156 | 18,156 | $ 19,711 | ||
Accumulated Other Comprehensive Income (Loss) [Member] | |||||
Accumulated Other Comprehensive Income [Line Items] | |||||
Accumulated other comprehensive income, net of tax, Total | 18,156 | 18,156 | 19,711 | ||
AccumulatedOtherThanTemporaryImpairmentMember | |||||
Accumulated Other Comprehensive Income [Line Items] | |||||
Unrealized gain on securities available-for-sale which are not other-than-temporarily impaired | 25,173 | 28,743 | |||
Unrealized loss on securities available-for-sale which are other-than-temporarily impaired | (338) | ||||
Income tax effect of unrealized gain on securities available-for-sale | 2,349 | 2,978 | |||
Net unrealized gain on securities available for sale wich are not other than temporarily impaired | 22,486 | 22,486 | 25,765 | ||
Accumulated Net Gain Loss From Designated Or Qualifying Cash Flow Hedges [Member] | |||||
Accumulated Other Comprehensive Income [Line Items] | |||||
Unrealized loss on cash flow hedges | (6,395) | (8,585) | |||
Income tax effect of unrealized loss on cash flow hedges | 2,065 | 2,531 | |||
Net unrealized (loss) income on cash flow hedges | $ (4,330) | $ (4,330) | $ (6,054) |
Accumulated Other Comprehens115
Accumulated Other Comprehensive Income (Changes in Other Comprehensive Income by Components) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Accumulated Other Comprehensive Income [Line Items] | ||||
Other-than-temporary impairment amount reclassified from accumulated other comprehensive income | $ 584 | $ 0 | $ 584 | $ 0 |
Net unrealized gains on securities available for sale | ||||
Accumulated Other Comprehensive Income [Line Items] | ||||
Beginning balance | 18,832 | 29,759 | 25,765 | 11,433 |
Other Comprehensive Income Loss Before Reclassifications Net Of Tax | 3,175 | (9,452) | (4,037) | 8,727 |
Other-than-temporary impairment amount reclassified from accumulated other comprehensive income | 584 | 584 | ||
Reclassification Out Of Accumulated Other Comprehensive Income | (105) | 11 | 174 | 158 |
Other Comprehensive Income (Loss) Other Net Of Tax | 3,654 | (9,441) | (3,279) | 8,885 |
Ending balance | 22,486 | 20,318 | 22,486 | 20,318 |
Net unrealized loss on cash flow hedges | ||||
Accumulated Other Comprehensive Income [Line Items] | ||||
Beginning balance | (4,531) | (8,004) | (6,054) | (8,242) |
Other Comprehensive Income Loss Before Reclassifications Net Of Tax | (1,346) | (559) | (2,894) | (3,584) |
Other-than-temporary impairment amount reclassified from accumulated other comprehensive income | 0 | 0 | ||
Reclassification Out Of Accumulated Other Comprehensive Income | 1,547 | 1,656 | 4,618 | 4,919 |
Other Comprehensive Income (Loss) Other Net Of Tax | 201 | 1,097 | 1,724 | 1,335 |
Ending balance | (4,330) | (6,907) | (4,330) | (6,907) |
Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Accumulated Other Comprehensive Income [Line Items] | ||||
Beginning balance | 14,301 | 21,755 | 19,711 | 3,191 |
Other Comprehensive Income Loss Before Reclassifications Net Of Tax | 1,829 | (10,011) | (6,931) | 5,143 |
Other-than-temporary impairment amount reclassified from accumulated other comprehensive income | 584 | 584 | ||
Reclassification Out Of Accumulated Other Comprehensive Income | 1,442 | 1,667 | 4,792 | 5,077 |
Other Comprehensive Income (Loss) Other Net Of Tax | 3,855 | (8,344) | (1,555) | 10,220 |
Ending balance | $ 18,156 | $ 13,411 | $ 18,156 | $ 13,411 |
Accumulated Other Comprehens116
Accumulated Other Comprehensive Income (Reclassifications out of other comprehensive income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Other Than Temporary Impairment on securities | $ (246) | $ 0 | $ (246) | $ 0 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Interest Rate Contract | 1,622 | 1,656 | 4,842 | 4,919 |
Tax effect from increase in capital gains tax rate, Cash flow hedges | (75) | 0 | (224) | 0 |
Other Than Temporary Impairment on securities | (246) | (246) | ||
Residual tax effect from OIB's change in applicable tax rate AFS | 11 | 11 | 33 | 158 |
Tax effect from increase in capital gains tax rate AFS | 130 | 0 | 387 | 0 |
Total | $ 1,442 | $ 1,667 | $ 4,792 | $ 5,077 |
Earnings Per Common Share (Narr
Earnings Per Common Share (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Earnings Per Share [Abstract] | |||
Stock Conversion Rate | 86.4225 | ||
Weighted average stock anti dilutive effect excluded from calculation of earnings per share | 973,200 | 397,766 | |
Convertible Preferred Stock | $ 84,000 | $ 84,000 |
Earnings Per Common Share (Earn
Earnings Per Common Share (Earnings per common share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Earnings Per Share [Abstract] | ||||
Net (loss) income | $ 4,569 | $ 19,532 | $ (1,528) | $ 64,588 |
Non-Convertible Preferred Stock Dividend (Series A,B and D) | (1,627) | (1,627) | (4,884) | (4,882) |
Convertible Preferred Stock Dividend (Series C) | (1,838) | (1,838) | (5,512) | (5,514) |
Income available to common shareholders | 1,104 | 16,067 | (11,924) | 54,192 |
Effect of assumed conversion of convertible preferred stock | 1,838 | 1,838 | 5,512 | 5,514 |
Income available to common sharesholders assuming conversion | $ 2,942 | $ 17,905 | $ (6,412) | $ 59,706 |
Average common shares outstanding | 43,929 | 45,055 | 44,353 | 45,131 |
Average potential common shares options | 46 | 160 | 85 | 162 |
Average potential common shares convertible preferred stock | 7,171 | 7,147 | 7,171 | 7,147 |
Average common shares outstanding and equivalents | 51,146 | 52,362 | 51,609 | 52,440 |
Earnings per common share - basic | $ 0.03 | $ 0.36 | $ (0.27) | $ 1.2 |
Earnings per common share - diluted | $ 0.03 | $ 0.34 | $ (0.27) | $ 1.14 |
Guarantees (Narrative) (Details
Guarantees (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Guarantee Obligations [Line Items] | |||||
Losses from repurchased loans subject to credit recourse | $ 418 | $ 115 | $ 1,000 | $ 261 | |
Loss On GNMA Repurchased Loan Not Subject To Credit Recourse | 500 | 979 | 2,000 | 1,900 | |
Funds Advanced To Investors Under Servicing Agreements | 305 | 305 | $ 391 | ||
Serviced mortgage loans for third parties | 625,300 | 625,300 | |||
Loan with recourse [Member] | |||||
Guarantee Obligations [Line Items] | |||||
Continuing Involvement With Transferred Financial Assets Principal Amount Outstanding | 25,000 | 25,000 | 67,800 | ||
Repurchased GNMA | 165 | $ 3,400 | $ 1,900 | $ 5,600 | $ 3,400 |
Losses from repurchased loans subject to credit recourse | $ 19,500 |
Guarantees (Changes in liabilty
Guarantees (Changes in liabilty of estimated loss from credit recourse agreement) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Movement In Guaranteed Benefit Liability Gross Roll Forward | ||||
Balance at beginning of the period | $ 289 | $ 1,310 | $ 927 | $ 1,955 |
Additions from acquisition | 0 | 0 | ||
Net charge-off/terminations | 140 | (232) | (498) | (877) |
Balance at the end of the period | $ 429 | $ 1,078 | $ 429 | $ 1,078 |
Commitments (Narratives) (Detai
Commitments (Narratives) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Commitments and Contingencies [Abstract] | |||||
Rent Expenses | $ 2,300 | $ 2,400 | $ 7,000 | $ 7,300 | |
Line of credit reserve | $ 667 | $ 667 | $ 621 |
Commitments (Summarized credit-
Commitments (Summarized credit-related financial instruments) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Commitments and Contingencies [Abstract] | ||
Commitments To Extend Credit | $ 432,006 | $ 493,248 |
Commercial letters credit | 1,443 | 885 |
Standby letters of credit and financial guarantees | 15,007 | 32,970 |
Performance letters of credit and financial guarantees | 24,996 | |
Loans sold with recourse | $ 61,597 | 67,803 |
Commitments To Sell Or Securitize Mortgage Loans | $ 10,207 |
Commitments (Future rental comm
Commitments (Future rental commitments under leases) (Details) $ in Thousands | Sep. 30, 2015USD ($) |
Operating Leases, Future Minimum Payments Due [Abstract] | |
2,015 | $ 2,832 |
2,016 | 7,697 |
2,017 | 7,081 |
2,018 | 6,066 |
2,019 | 5,829 |
Thereafter | 16,637 |
Total | $ 46,142 |
Fair Value (Assets and liabilit
Fair Value (Assets and liabilities on recurring and non-recurring basis) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Available for sale securities | $ 1,007,705 | $ 1,216,538 | ||||
Money Market Funds, at Carrying Value | 4,736 | 4,675 | ||||
Derivative Assets | 3,290 | 8,107 | ||||
Servicing Assets | 6,463 | $ 5,791 | 13,992 | $ 13,986 | $ 13,970 | $ 13,801 |
Derivative liabilities | (8,622) | (11,221) | ||||
Other repossessed assets | 8,948 | 21,800 | ||||
Fair Value, Inputs, Level 2 [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Available for sale securities | 1,007,705 | 1,216,538 | ||||
Derivative Assets | 2,175 | 2,552 | ||||
Foreclosed real estate | 0 | |||||
Total | 0 | |||||
Fair Value, Inputs, Level 3 [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Assets | 1,115 | 5,555 | ||||
Servicing Assets | 6,463 | 13,992 | ||||
Derivative liabilities | (1,041) | (5,477) | ||||
Fair Value, Measurements, Recurring [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Available for sale securities | 1,007,705 | 1,216,538 | ||||
Money Market Funds, at Carrying Value | 4,736 | 4,675 | ||||
Derivative Assets | 3,290 | 8,107 | ||||
Servicing Assets | 6,463 | 13,992 | ||||
Derivative liabilities | (9,663) | (16,698) | ||||
Total | 1,012,531 | 1,226,614 | ||||
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 | ||||
Money Market Funds, at Carrying Value | 4,736 | 4,675 | ||||
Derivative Assets | 0 | 0 | ||||
Servicing Assets | 0 | 0 | ||||
Derivative liabilities | 0 | 0 | ||||
Total | 4,736 | 4,675 | ||||
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 | 1,007,705 | 1,216,538 | ||||
Money Market Funds, at Carrying Value | 0 | 0 | ||||
Derivative Assets | 2,175 | 2,552 | ||||
Servicing Assets | 0 | 0 | ||||
Derivative liabilities | (8,622) | (11,221) | ||||
Total | 1,001,258 | 1,207,869 | ||||
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 | 0 | 0 | ||||
Money Market Funds, at Carrying Value | 0 | 0 | ||||
Derivative Assets | 1,115 | 5,555 | ||||
Servicing Assets | 6,463 | 13,992 | ||||
Derivative liabilities | (1,041) | (5,477) | ||||
Total | 6,537 | 14,070 | ||||
Fair Value, Measurements, Nonrecurring [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Impaired Commercial Loan | 233,598 | 236,942 | ||||
Foreclosed real estate | 64,117 | 95,661 | ||||
Other repossessed assets | 8,948 | 21,800 | ||||
Total | 306,663 | 354,403 | ||||
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 | ||||
Other repossessed assets | 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 | |||||
Other repossessed assets | 0 | 0 | ||||
Total | 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 | 233,598 | 236,942 | ||||
Foreclosed real estate | 64,117 | 95,661 | ||||
Other repossessed assets | 8,948 | 21,800 | ||||
Total | $ 306,663 | $ 354,403 |
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 ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2014 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Balance | $ 5,885 | $ 14,182 | $ 34,175 |
Gains (losses) included in earnings | (51) | (143) | (1,029) |
Changes in fair value of investment securities available for sale included in other comprehensive income | 0 | 320 | |
New instruments acquired | 748 | 554 | 1,608 |
Principal repayments | (242) | (427) | (20,799) |
Amortization | 31 | 105 | 509 |
Changes in fair value of servicing assets | 166 | (111) | (624) |
Balance | 6,537 | 14,160 | 14,160 |
Other Debt Obligations [Member] | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Balance | 0 | 19,680 | |
Gains (losses) included in earnings | 0 | 0 | |
Changes in fair value of investment securities available for sale included in other comprehensive income | 0 | 320 | |
New instruments acquired | 0 | ||
Principal repayments | 0 | (20,000) | |
Amortization | 0 | 0 | |
Changes in fair value of servicing assets | 0 | 0 | |
Balance | 0 | 0 | |
Derivative Financial Instruments, Assets [Member] | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Balance | 2,138 | 6,580 | 16,430 |
Gains (losses) included in earnings | (1,023) | (818) | (10,668) |
Changes in fair value of investment securities available for sale included in other comprehensive income | 0 | 0 | |
New instruments acquired | 0 | 0 | 0 |
Principal repayments | 0 | 0 | 0 |
Amortization | 0 | 0 | 0 |
Changes in fair value of servicing assets | 0 | 0 | 0 |
Balance | 1,115 | 5,762 | 5,762 |
Servicing Assets [Member] | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Balance | 5,791 | 13,970 | 13,801 |
Gains (losses) included in earnings | 0 | 0 | 0 |
Changes in fair value of investment securities available for sale included in other comprehensive income | 0 | 0 | |
New instruments acquired | 748 | 554 | 1,608 |
Principal repayments | (242) | (427) | (799) |
Amortization | 0 | 0 | 0 |
Changes in fair value of servicing assets | 166 | (111) | (624) |
Balance | 6,463 | 13,986 | 13,986 |
Derivative Financial Instruments, Liabilities [Member] | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Balance | (2,044) | (6,368) | (15,736) |
Gains (losses) included in earnings | 972 | 675 | 9,639 |
Changes in fair value of investment securities available for sale included in other comprehensive income | 0 | 0 | |
New instruments acquired | 0 | 0 | 0 |
Principal repayments | 0 | 0 | 0 |
Amortization | 31 | 105 | 509 |
Changes in fair value of servicing assets | 0 | 0 | 0 |
Balance | $ (1,041) | $ (5,588) | $ (5,588) |
Fair Value (Qualitative informa
Fair Value (Qualitative information for assets and liabilities) (Details) - Fair Value, Inputs, Level 3 [Member] $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2015USD ($) | Sep. 30, 2015USD ($) | |
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value assets and liabilities measured on reccurring basis | $ 1,115 | $ 1,115 |
Derivative asset (S&P Purchased Options) [Member] | Option Pricing Model Technique [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Valuation Technique | Option pricing model | |
Derivative asset (S&P Purchased Options) [Member] | Option Pricing Model Technique [Member] | Minimum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Implied option volatility | 32.29% | |
Counterparty credit risk (based on 5-year CDS spread) | 79.96% | |
Derivative asset (S&P Purchased Options) [Member] | Option Pricing Model Technique [Member] | Maximum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Implied option volatility | 35.32% | |
Counterparty credit risk (based on 5-year CDS spread) | 89.03% | |
Servicing Assets [Member] | Cash Flow Valuation Technique [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value assets and liabilities measured on reccurring basis | $ 6,463 | $ 6,463 |
Valuation Technique | Cash flow valuation | |
Servicing Assets [Member] | Cash Flow Valuation Technique [Member] | Minimum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Constant prepayment rate | 5.49% | |
Discount rate | 10.58% | |
Servicing Assets [Member] | Cash Flow Valuation Technique [Member] | Maximum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Constant prepayment rate | 10.00% | |
Discount rate | 12.00% | |
Derivative liability (S&P Embedded Options) [Member] | Option Pricing Model Technique [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value assets and liabilities measured on reccurring basis | $ (1,041) | $ (1,041) |
Valuation Technique | Option pricing model | |
Derivative liability (S&P Embedded Options) [Member] | Option Pricing Model Technique [Member] | Minimum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Implied option volatility | 32.29% | |
Counterparty credit risk (based on 5-year CDS spread) | 79.96% | |
Derivative liability (S&P Embedded Options) [Member] | Option Pricing Model Technique [Member] | Maximum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Implied option volatility | 35.32% | |
Counterparty credit risk (based on 5-year CDS spread) | 89.03% | |
Collateral dependant impaired loan | Fair value of property or collateral [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value assets and liabilities measured on reccurring basis | $ 34,906 | $ 34,906 |
Valuation Technique | Fair value of property or collateral | |
Collateral dependant impaired loan | Fair value of property or collateral [Member] | Minimum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Appraised value | 23.20% | 23.20% |
Collateral dependant impaired loan | Fair value of property or collateral [Member] | Maximum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Appraised value | 29.20% | 29.20% |
Puerto Rico Electric Power Authority loan | Cash Flow Valuation Technique [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value assets and liabilities measured on reccurring basis | $ 174,183 | $ 174,183 |
Puerto Rico Electric Power Authority loan | Cash Flow Valuation Technique [Member] | Minimum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Discount rate | 7.25% | |
Puerto Rico Electric Power Authority loan | Cash Flow Valuation Technique [Member] | Maximum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Discount rate | 7.25% | |
Puerto Rico Electric Power Authority loan | Fair value of property or collateral [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Valuation Technique | Cash flow valuation | |
Other non-collateral dependant impaired loans [Member] | Cash Flow Valuation Technique [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value assets and liabilities measured on reccurring basis | $ 4,788 | $ 4,788 |
Valuation Technique | Cash flow valuation | |
Other non-collateral dependant impaired loans [Member] | Cash Flow Valuation Technique [Member] | Minimum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Discount rate | 5.75% | |
Other non-collateral dependant impaired loans [Member] | Cash Flow Valuation Technique [Member] | Maximum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Discount rate | 16.95% | |
Foreclosed real estate [Member] | Fair value of property or collateral [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value assets and liabilities measured on reccurring basis | $ 64,117 | $ 64,117 |
Valuation Technique | Fair value of property or collateral | |
Foreclosed real estate [Member] | Fair value of property or collateral [Member] | Minimum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Appraised value | 23.20% | 23.20% |
Foreclosed real estate [Member] | Fair value of property or collateral [Member] | Maximum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Appraised value | 29.20% | 29.20% |
Other repossessed assets [Member] | Fair value of property or collateral [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value assets and liabilities measured on reccurring basis | $ 8,948 | $ 8,948 |
Valuation Technique | Fair value of property or collateral | |
Other repossessed assets [Member] | Fair value of property or collateral [Member] | Minimum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Appraised value | 23.20% | 23.20% |
Other repossessed assets [Member] | Fair value of property or collateral [Member] | Maximum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Appraised value | 29.20% | 29.20% |
Fair value (Estimated fair valu
Fair value (Estimated fair value and carrying value) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Assets, Fair Value Disclosure [Abstract] | ||||||
Available-for-sale Securities | $ 1,007,705 | $ 1,216,538 | ||||
Held to maturity Fair Value | 595,148 | 164,154 | ||||
Federal Home Loan Bank (FHLB) stock | 20,804 | 21,169 | ||||
Other Investments | 3 | 3 | ||||
Derivative Assets | 3,290 | 8,107 | ||||
Servicing Assets | 6,463 | $ 5,791 | 13,992 | $ 13,986 | $ 13,970 | $ 13,801 |
Liabilities, Fair Value Disclosure [Abstract] | ||||||
Derivative liabilities | 8,622 | 11,221 | ||||
Assets,Carrying Value [Abstract] | ||||||
Total cash and cash equivalents | 526,196 | 573,427 | 671,239 | 621,269 | ||
Restricted Cash And Cash Equivalents | 4,349 | 8,407 | ||||
Trading Securities | 583 | 1,594 | ||||
Loans, net of allowance for loan and lease losses | 4,444,902 | 4,807,825 | ||||
FDIC Indemnification Asset | 22,895 | $ 22,704 | 97,378 | $ 120,619 | $ 143,660 | $ 189,240 |
Accrued interest receivable | 18,625 | 21,345 | ||||
Liabilities,Carrying Value Disclosure [Abstract] | ||||||
Deposits, Total | 4,717,074 | 4,924,406 | ||||
Securities Sold under Agreements to Repurchase | 1,000,664 | 980,087 | ||||
Subordinated capital notes | 102,371 | 101,584 | ||||
Securities Purchased But Not Yet Received | 0 | 0 | ||||
Accrued expenses and other liabilities | 113,450 | 133,290 | ||||
Fair Value, Inputs, Level 1 [Member] | ||||||
Assets, Fair Value Disclosure [Abstract] | ||||||
Cash and Cash Equivalents, Fair Value Disclosure | 526,196 | 573,427 | ||||
Restricted Cash, at Fair Value | 4,349 | 8,407 | ||||
Assets,Carrying Value [Abstract] | ||||||
Total cash and cash equivalents | 526,196 | 573,427 | ||||
Restricted Cash And Cash Equivalents | 4,349 | 8,407 | ||||
Fair Value, Inputs, Level 2 [Member] | ||||||
Assets, Fair Value Disclosure [Abstract] | ||||||
Available-for-sale Securities | 1,007,705 | 1,216,538 | ||||
Held to maturity Fair Value | 595,148 | 164,154 | ||||
Federal Home Loan Bank (FHLB) stock | 20,804 | 21,169 | ||||
Other Investments | 3 | 3 | ||||
Derivative Assets | 2,175 | 2,552 | ||||
Receivables, Fair Value Disclosure | 8,622 | 11,221 | ||||
Assets,Carrying Value [Abstract] | ||||||
Trading Securities | 583 | 1,594 | ||||
Investment held for sale, carrying amount | 594,639 | 162,752 | ||||
Federal Home Loan Bank Stock at carrying value | 20,804 | 21,169 | ||||
Other Investment, Carrying Value | 3 | 3 | ||||
Derivative Assets, carrying value | 2,175 | 2,552 | ||||
Liabilities,Carrying Value Disclosure [Abstract] | ||||||
Derivative liabilities at carrying value | 8,622 | 11,221 | ||||
Fair Value, Inputs, Level 3 [Member] | ||||||
Assets, Fair Value Disclosure [Abstract] | ||||||
Non-covered loans, net | 4,408,998 | 4,909,361 | ||||
Derivative Assets | 1,115 | 5,555 | ||||
FDIC Indemnification Asset Fair Value Disclosure | 14,151 | 75,969 | ||||
Receivables, Fair Value Disclosure | 18,625 | 21,345 | ||||
Servicing Assets | 6,463 | 13,992 | ||||
Liabilities, Fair Value Disclosure [Abstract] | ||||||
Deposits, Fair Value Disclosure | 4,714,106 | 4,893,247 | ||||
Securities sold under agreements to repurchase | 1,029,439 | 1,020,621 | ||||
Advances from FHLB | 336,859 | 339,172 | ||||
Notes Payable Fair Value Disclosure | 1,842 | 3,979 | ||||
Subordinated capital notes | 94,127 | 104,288 | ||||
Derivative liabilities | 1,041 | 5,477 | ||||
Accrued expenses and other liabilities | 113,450 | 133,290 | ||||
Assets,Carrying Value [Abstract] | ||||||
Loans, net of allowance for loan and lease losses | 4,468,676 | 4,826,646 | ||||
Derivative Assets, carrying value | 1,115 | 5,555 | ||||
FDIC Indemnification Asset | 22,895 | 97,378 | ||||
Accrued interest receivable | 18,625 | 21,345 | ||||
Servicing assets, carrying value | 6,463 | 13,992 | ||||
Liabilities,Carrying Value Disclosure [Abstract] | ||||||
Deposits, Total | 4,717,074 | 4,924,406 | ||||
Securities Sold under Agreements to Repurchase | 1,000,664 | 980,087 | ||||
Advances from FHLB | 332,936 | 334,331 | ||||
Term Notes | 1,734 | 4,004 | ||||
Subordinated capital notes | 102,371 | 101,584 | ||||
Accrued expenses and other liabilities | 113,450 | 133,290 | ||||
Derivative liabilities at carrying value | $ 1,041 | $ 5,477 |
Business Segments (Details)
Business Segments (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Segment Reporting Information [Line Items] | |||||
Total interest income | $ 107,247 | $ 120,301 | $ 313,661 | $ 369,275 | |
Interest expense | (17,424) | (18,430) | (51,911) | (57,928) | |
Net interest income | 89,823 | 101,871 | 261,750 | 311,347 | |
Provision for Loan and Lease Losses, net | (109,311) | ||||
Total non-interest income (loss), net | 35,977 | 2,491 | 38,202 | 8,227 | |
Non-interest expenses | (69,090) | (59,575) | (189,859) | (180,827) | |
Total assets | 7,203,822 | 7,203,822 | $ 7,449,109 | ||
Banking [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total interest income | 97,264 | 108,548 | 285,251 | 330,148 | |
Interest expense | (7,036) | (7,892) | (21,600) | (26,235) | |
Net interest income | 90,228 | 100,656 | 263,651 | 303,913 | |
Provision for Loan and Lease Losses, net | (51,579) | (17,257) | (109,311) | (43,763) | |
Total non-interest income (loss), net | 30,098 | (3,242) | 16,136 | (14,845) | |
Non-interest expenses | (63,106) | (53,669) | (169,264) | (156,867) | |
Intersegment revenues | 351 | 431 | 1,058 | 1,410 | |
Intersegment expenses | (69) | (290) | (228) | (290) | |
Income (loss) before Income Taxes, Parent | 5,923 | 26,629 | 2,042 | 89,558 | |
Total assets | 5,990,125 | 6,494,141 | 5,990,125 | 6,494,141 | |
Financial Services | |||||
Segment Reporting Information [Line Items] | |||||
Total interest income | 25 | 44 | 71 | 132 | |
Interest expense | 0 | 0 | 0 | 0 | |
Net interest income | 25 | 44 | 71 | 132 | |
Provision for Loan and Lease Losses, net | 0 | 0 | 0 | 0 | |
Total non-interest income (loss), net | 6,513 | 6,208 | 20,416 | 20,232 | |
Non-interest expenses | (5,063) | (4,483) | (16,586) | (15,629) | |
Intersegment revenues | 0 | 0 | 0 | 0 | |
Intersegment expenses | (252) | (330) | (770) | (1,089) | |
Income (loss) before Income Taxes, Parent | 1,223 | 1,439 | 3,131 | 3,646 | |
Total assets | 20,594 | 26,800 | 20,594 | 26,800 | |
Treasury [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total interest income | 9,958 | 11,709 | 28,339 | 38,995 | |
Interest expense | (10,388) | (10,538) | (30,311) | (31,693) | |
Net interest income | (430) | 1,171 | (1,972) | 7,302 | |
Provision for Loan and Lease Losses, net | 0 | 0 | 0 | 0 | |
Total non-interest income (loss), net | (634) | (475) | 1,650 | 2,840 | |
Non-interest expenses | (921) | (1,423) | (4,009) | (8,331) | |
Intersegment revenues | 69 | 290 | 228 | 290 | |
Intersegment expenses | (99) | (101) | (288) | (321) | |
Income (loss) before Income Taxes, Parent | (2,015) | (538) | (4,391) | 1,780 | |
Total assets | 2,117,569 | 2,098,341 | 2,117,569 | 2,098,341 | |
Major Segment [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total interest income | 107,247 | 120,301 | 313,661 | 369,275 | |
Interest expense | (17,424) | (18,430) | (51,911) | (57,928) | |
Net interest income | 89,823 | 101,871 | 261,750 | 311,347 | |
Provision for Loan and Lease Losses, net | (51,579) | (17,257) | (109,311) | (43,763) | |
Total non-interest income (loss), net | 35,977 | 2,491 | 38,202 | 8,227 | |
Non-interest expenses | (69,090) | (59,575) | (189,859) | (180,827) | |
Intersegment revenues | 420 | 721 | 1,286 | 1,700 | |
Intersegment expenses | (420) | (721) | (1,286) | (1,700) | |
Income (loss) before Income Taxes, Parent | 5,131 | 27,530 | 782 | 94,984 | |
Total assets | 8,128,288 | 8,619,282 | 8,128,288 | 8,619,282 | |
Intersegment Elimination [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total interest income | 0 | 0 | 0 | 0 | |
Interest expense | 0 | 0 | 0 | 0 | |
Net interest income | 0 | 0 | 0 | 0 | |
Provision for Loan and Lease Losses, net | 0 | 0 | 0 | 0 | |
Total non-interest income (loss), net | 0 | 0 | 0 | 0 | |
Non-interest expenses | 0 | 0 | 0 | 0 | |
Intersegment revenues | (420) | (721) | (1,286) | (1,700) | |
Intersegment expenses | 420 | 721 | 1,286 | 1,700 | |
Income (loss) before Income Taxes, Parent | 0 | 0 | 0 | 0 | |
Total assets | $ (924,466) | $ (945,943) | $ (924,466) | $ (945,943) |