Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2016 | Jul. 29, 2016 | |
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 | Jun. 30, 2016 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q2 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 43,913,719 |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Cash and cash equivalents | ||
Cash and Due from Banks | $ 511,308 | $ 532,010 |
Money market investments | 5,740 | 4,699 |
Total cash and cash equivalents | 517,048 | 536,709 |
Restricted Cash | 3,030 | 3,349 |
Investments: | ||
Trading Securities, at fair value | 348 | 288 |
Investment securities available-for-sale, at fair value | 664,302 | 974,609 |
Investment securities held-to-maturity, at amortized cost | 635,399 | 620,189 |
Federal Home Loan Bank (FHLB) stock, at cost | 19,838 | 20,783 |
Other investments | 3 | 3 |
Total investments | 1,319,890 | 1,615,872 |
Loans: | ||
Mortgage loans held-for-sale | 18,209 | 13,614 |
Loans held for investment, net | 4,355,408 | 4,420,599 |
Total loans, net | 4,373,617 | 4,434,213 |
Other asset | ||
FDIC indemnification asset | 18,426 | 22,599 |
Foreclosed real estate not covered under shared-loss agreements with the FDIC | 51,220 | 58,176 |
Accrued interest receivable | 20,009 | 20,637 |
Deferred tax asset, net | 143,048 | 145,901 |
Premises and equipment, net | 72,585 | 74,590 |
Customers' liability on acceptances | 20,984 | 14,582 |
Servicing Assets | 7,932 | 7,455 |
Derivative assets | 1,926 | 3,025 |
Goodwill | 86,069 | 86,069 |
Other assets | 76,812 | 75,972 |
Total assets | 6,712,596 | 7,099,149 |
Deposits: | ||
Demand deposits | 1,972,743 | 1,862,572 |
Savings accounts | 1,176,169 | 1,179,229 |
Tme Deposits | 1,495,142 | 1,675,950 |
Total deposits | 4,644,054 | 4,717,751 |
Borrowings: | ||
Securities Sold under Agreements to Repurchase | 626,109 | 934,691 |
Advances from FHLB | 306,480 | 332,476 |
Subordinated capital notes | 102,983 | 102,633 |
Other borrowings | 1,753 | 1,734 |
Total borrowings | 1,037,325 | 1,371,534 |
Derivative liabilities | 5,413 | 6,162 |
Acceptances executed and outstanding | 20,984 | 14,582 |
Accrued expenses and other liabilities | 88,930 | 92,043 |
Total liabilities | 5,796,706 | 6,202,072 |
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 | 540,705 | 540,512 |
Legal surplus | 73,265 | 70,435 |
Retained earnings | 162,363 | 148,886 |
Treasury stock, at cost | (104,874) | (105,379) |
Accumulated other comprehensive income, net of tax, Total | 15,805 | 13,997 |
Total stockholders' equity | 915,890 | 897,077 |
Total liabilities and stockholders' equity | $ 6,712,596 | $ 7,099,149 |
Consolidated Statements of Fin3
Consolidated Statements of Financial Condition (Unaudited) (Parenthetical) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
Amortized cost of trading securities | $ 667,000 | $ 667,000 |
Amortized cost of investment securities available-for-sale | 645,298,000 | 955,646,000 |
Fair value of held to maturity securities | 643,530,000 | 614,679,000 |
Allowance for loan and lease losses | $ 162,216,000 | $ 234,131,000 |
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 | 43,913,719 | 43,867,909 |
Treasury stock, at cost, shares | 8,712,150 | 8,757,960 |
Tax effect on accumulated other comprehensive income (loss) | $ (456,000) | $ 1,182,000 |
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 | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Interest income: | ||||
Total interest income from loans | $ 79,675 | $ 90,504 | $ 160,827 | $ 187,987 |
Mortgage-backed securities | 7,220 | 7,998 | 16,217 | 16,587 |
Investment securities and other | 1,013 | 911 | 2,170 | 1,840 |
Total interest income | 87,908 | 99,413 | 179,214 | 206,414 |
Interest expense: | ||||
Deposits | 7,367 | 6,604 | 14,491 | 13,708 |
Securities sold under agreements to repurchase | 4,258 | 7,394 | 10,358 | 14,558 |
Advances from FHLB and other borrowings | 2,098 | 2,248 | 4,337 | 4,483 |
Subordinated capital notes | 873 | 875 | 1,741 | 1,738 |
Total interest expense | 14,596 | 17,121 | 30,927 | 34,487 |
Net interest income | 73,312 | 82,292 | 148,287 | 171,927 |
Provision for Loan, Lease, and Other Losses | 14,445 | 15,539 | 28,234 | 57,732 |
Net interest income after provision for loan and lease losses | 58,867 | 66,753 | 120,053 | 114,195 |
Non-interest income: | ||||
Banking service revenues | 10,219 | 10,212 | 20,337 | 20,417 |
Wealth management revenue | 7,041 | 7,285 | 13,193 | 14,440 |
Mortgage banking activities | 1,024 | 1,862 | 1,879 | 3,725 |
Total Banking and Financial Service Revenues | 18,284 | 19,359 | 35,409 | 38,582 |
FDIC shared-loss expense, net [Abstract] | ||||
FDIC shared-loss expense, net | (3,420) | (23,245) | (7,449) | (36,329) |
Net gain (loss) on: | ||||
Sale of securities | 211 | 0 | 12,207 | 2,572 |
Derivatives | (10) | 77 | (13) | (13) |
Early extinguishment of debt | 0 | 0 | (12,000) | 0 |
Other non-interest (loss) income | 90 | (847) | 504 | (2,587) |
Total non-interest income, net | 15,155 | (4,656) | 28,658 | 2,225 |
Non-interest expense: | ||||
Compensation and employee benefits | 18,531 | 19,260 | 38,815 | 39,440 |
Professional and service fees | 3,511 | 4,143 | 7,138 | 8,324 |
Occupancy and equipment | 8,107 | 8,883 | 15,929 | 17,519 |
Insurance | 3,155 | 2,251 | 6,305 | 4,204 |
Electronic banking charges | 4,947 | 5,851 | 10,536 | 11,218 |
Information technology related expenses | 1,606 | 1,543 | 3,262 | 2,997 |
Advertising, business promotion, and strategic initiatives | 1,343 | 1,558 | 2,786 | 3,186 |
Foreclosure, repossession and other real estate expenses | 5,164 | 10,337 | 7,971 | 15,783 |
Loan servicing and clearing expenses | 1,926 | 2,594 | 4,007 | 4,947 |
Taxes, other than payroll and income taxes | 2,330 | 2,703 | 5,001 | 4,182 |
Communication | 581 | 770 | 1,400 | 1,460 |
Printing, postage, stationary and supplies | 600 | 582 | 1,325 | 1,219 |
Director and investors relations | 301 | 289 | 579 | 583 |
Other | 1,723 | 3,673 | 3,628 | 5,707 |
Total non-interest expense | 53,825 | 64,437 | 108,682 | 120,769 |
Income before income taxes | 20,197 | (2,340) | 40,029 | (4,349) |
Income tax expense (benefit) | 5,858 | 769 | 11,519 | 1,748 |
Net (loss) income | 14,339 | (3,109) | 28,510 | (6,097) |
Dividends on preferred stock | (3,466) | (3,466) | (6,931) | (6,931) |
Income (loss) available to common shareholders | $ 10,873 | $ (6,575) | $ 21,579 | $ (13,028) |
Earnings (loss) per common share: | ||||
Basic | $ 0.25 | $ (0.15) | $ 0.49 | $ (0.29) |
Diluted | $ 0.25 | $ (0.15) | $ 0.49 | $ (0.29) |
Average common shares outstanding and equivalents | 51,095 | 51,774 | 51,081 | 51,876 |
Cash dividends per share of common stock | $ 0.06 | $ 0.1 | $ 0.12 | $ 0.2 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Consolidated Statements of Comprehensive Income (Loss) [Abstract] | ||||
Net (loss) income | $ 14,339 | $ (3,109) | $ 28,510 | $ (6,097) |
Other comprehensive income (loss) before tax: | ||||
Unrealized gain (loss) on securities available-for-sale | 3,719 | (12,916) | 12,364 | (5,541) |
Realized gain on investment securities included in net income | (211) | 0 | (12,207) | (2,572) |
Unrealized gain (loss) on cash flow hedges | 663 | 2,016 | 652 | 2,071 |
Other comprehensive income (loss) before taxes | 4,171 | (10,900) | 809 | (6,042) |
Income tax effect | (650) | 877 | 999 | 632 |
Other Comprehensive Income (Loss) After taxes | 3,521 | (10,023) | 1,808 | (5,410) |
Comprehensive income (loss) | $ 17,860 | $ (13,132) | $ 30,318 | $ (11,507) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | 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, 2014 | $ 176,000 | $ 52,626 | $ 539,311 | $ 70,467 | $ 181,152 | $ (97,070) | $ 19,711 | |
Stock-based compensation expense | 794 | |||||||
Lapsed restricted stock units | (436) | 640 | ||||||
Transfer from retained earnings/transfer to legal surplus | (533) | 533 | ||||||
Net (loss) income | $ (6,097) | (6,097) | ||||||
Cash dividends declared on common stock | (8,920) | |||||||
Cash dividends declared on preferred stock | (6,931) | |||||||
Stock purchased | 4,238 | 4,238 | ||||||
Other comprehensive loss, net of tax | (5,410) | (5,410) | ||||||
Ending Balance at Jun. 30, 2015 | 911,599 | 176,000 | 52,626 | 539,669 | 69,934 | 159,737 | (100,668) | 14,301 |
Beginning Balance at Dec. 31, 2014 | 176,000 | 52,626 | 539,311 | 70,467 | 181,152 | (97,070) | 19,711 | |
Net (loss) income | 28,510 | |||||||
Ending Balance at Dec. 31, 2015 | 897,077 | 176,000 | 52,626 | 540,512 | 70,435 | 148,886 | (105,379) | 13,997 |
Stock-based compensation expense | 698 | |||||||
Lapsed restricted stock units | (505) | 505 | ||||||
Transfer from retained earnings/transfer to legal surplus | 2,830 | (2,830) | ||||||
Net (loss) income | 28,510 | 28,510 | ||||||
Cash dividends declared on common stock | (5,272) | |||||||
Cash dividends declared on preferred stock | (6,931) | |||||||
Stock purchased | 0 | |||||||
Other comprehensive loss, net of tax | 1,808 | 1,808 | ||||||
Ending Balance at Jun. 30, 2016 | $ 915,890 | $ 176,000 | $ 52,626 | $ 540,705 | $ 73,265 | $ 162,363 | $ (104,874) | $ 15,805 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Cash flows from operating activities: | ||
Net (loss) income | $ 28,510 | $ (6,097) |
Adjustments to reconcile net income to net cash provied by (used in) operating activities: | ||
Amortization of deferred loan origination fees, net of costs | 1,977 | 1,813 |
Amortization of fair value premiums, net of discounts, on acquired loans | 39 | 2,766 |
Amortization of investment securities premiums, net of accretion of discounts | 4,356 | 5,931 |
Amortization of core deposit and customer relationship intangibles | 839 | 953 |
Amortization of fair value premium of acquired deposits | 189 | 478 |
FDIC Loss Share Expense | 7,449 | 36,329 |
Depreciation and amortization of premises and equipment | 5,025 | 5,930 |
Deferred income taxes, net | 3,543 | (1,316) |
Provision for loan and lease losses, net | 28,234 | 57,732 |
Stock-based compensation | 698 | 794 |
(Gain) loss on: | ||
Sale of securities | (12,207) | (2,572) |
Sale of mortgage loans held for sale | (809) | (2,010) |
Gain on sale of derivatives and on sale of TBA | 88 | (113) |
Early extinguishment of debt | 12,000 | 0 |
Foreclosed real estate | 7,287 | (706) |
Sale of other repossessed asset | (1,235) | 3,427 |
Sale of premises and equipment | 13 | 10 |
Originations of loans held-for-sale | (90,052) | (111,433) |
Proceeds from sale of loans held-for-sale | 32,212 | 46,678 |
Net (increase) decrease in: | ||
Trading securities | (60) | 808 |
Accrued interest receivable | 628 | 2,091 |
Servicing Assets | (477) | 1,216 |
Other assets | (4,872) | (19,813) |
Net increase (decrease) in: | ||
Accrued interest on deposits and borrowings | (373) | (608) |
Accrued expenses and other liabilities | 8,253 | 24,219 |
Net cash provided by (used in) operating activities | 31,255 | 46,507 |
Purchases of: | ||
Investment securities available-for-sale | (302) | (1,671) |
Investment securities held-to-maturity | (51,717) | (399,206) |
FHLB stock | (8,512) | 0 |
Maturities and Redemptions of [Abstract] | ||
Investment securities available-for-sale | 74,208 | 121,121 |
Investments securities held-to-maturity | 34,304 | 10,725 |
FHLB Stock | 9,457 | 343 |
Proceeds from sale of: | ||
Investment securities available for sale | 300,483 | 103,831 |
Foreclosed real estate and other repossessed assets, including write-offs | 25,779 | 34,136 |
Proceeds From Sale And Collection of Loans Held for Sale | 478 | 0 |
Premises and equipment | 44 | 10 |
Proceeds From Sale Of Mortgage Servicing Rights MSR | 0 | 5,927 |
Origination and purchase of loans, excluding loans held-for-sale | (373,927) | (414,725) |
Principal repayment of loans, including covered loans | 386,477 | 491,330 |
Reimbursements from the FDIC on shared-loss agreements | 738 | 31,657 |
Additions to premises and equipment | (3,077) | (1,838) |
Net change in restricted cash | (319) | (2,321) |
Net cash provided by investing activities | 394,752 | (16,039) |
Net increase (decrease) in: | ||
Deposits | (87,864) | (209,272) |
Securities sold under agreements to repurchase | (320,000) | 181,129 |
FHLB advances, federal funds purchased, and other borrowings | (25,951) | (2,845) |
Subordinated capital notes | 350 | 525 |
Exercise of stock options and restricted units lapsed, net | 0 | 204 |
Purchase of treasury stock | 0 | (4,238) |
Dividends paid on preferred stock | (6,931) | (6,931) |
Dividends paid on common stock | (5,272) | (8,932) |
Net cash used in financing activities | (445,668) | (50,360) |
Net change in cash and cash equivalents | (19,661) | (19,892) |
Cash and cash equivalents at beginning of period | 536,709 | 573,427 |
Cash and cash equivalents at end of period | 517,048 | 553,535 |
Supplemental Cash Flow Disclosure and Schedule of Non-cash Activities: | ||
Interest paid | 30,454 | 34,403 |
Income Taxes Paid | 3,642 | 6,730 |
Mortgage loans securitized into mortgage-backed securities | 53,872 | 61,854 |
Transfer from loans to foreclosed real estate and other repossessed assets | 21,865 | 15,390 |
Reclassification of loans held-for-investment portfolio to held-for-sale portfolio | 0 | 1,473 |
Reclassification of loans held-for-sale portfolio to investment portfolio | $ 182 | $ 156 |
Organization, Consolidation and
Organization, Consolidation and Basis of Presentation | 6 Months Ended |
Jun. 30, 2016 | |
Nature of Operations and Summary of Significanrt Accounting Policies | |
Nature Of Operations | NOTE 1 – ORGANIZATION, CONSOLIDATION AND BASIS OF PRESENTATION Nature of Operations OFG Bancorp (the “Company”) is a publicly-owned financial holding company incorporated under the laws of the Commonwealth of Puerto Rico. The Company operates through various subsidiaries including, a commercial bank, Oriental Bank (the “Bank”), a securities broker-dealer, Oriental Financial Services Corp. (“Oriental Financial Services”), an insurance agency, Oriental Insurance, LLC (“Oriental Insurance”) and a retireme nt plan administrator, Oriental Pension Consultants, Inc. (“OPC”). Through these subsidiaries and their respective divisions, the Company provides a wide range of banking and financial services such as commercial, consumer and mortgage lending, 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 liabiliti es 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 Bilbao 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 integrated with the Company’s existing business. |
Significant Accounting Policies | Recent Accounting Developments In June 2016, the Financial Accounting Standards Board (FASB) issued new accounting guidance that will require the earlier recognition of credit losses on loans and other financial instruments based on an expected loss model, replacing the incurred loss model that is currently in use. Under the new guidance, an entity will measure all expected credit losses for financial instruments held at the reporting date based on historical expe rience, current conditions and reasonable and supportable forecasts. The expected loss model will apply to loans and leases, unfunded lending commitments, held-to-maturity (HTM) debt securities and other debt instruments measured at amortized cost. The imp airment model for available-for-sale (AFS) debt securities will require the recognition of credit losses through a valuation allowance when fair value is less than amortized cost, regardless of whether the impairment is considered to be other-than-temporar y. The new guidance is effective on January 1, 2020, with early adoption permitted on January 1, 2019. The Company is in the process of evaluating the impact of the provisions of this new accounting guidance . In March 2016, the FASB issued new accounting guidance that simplifies certain aspects of the accounting for share-based payment transactions, including income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The new guidanc e is effective on January 1, 2017, with early adoption permitted. The Company does not expect the provisions of this new accounting guidance to have a material impact on its consolidated financial position or results of operations. In February 2016, the F ASB issued new accounting guidance that requires substantially all leases to be recorded as assets and liabilities on the balance sheet. This new accounting guidance is effective on January 1, 2019, with early adoption permitted. Upon adoption, the Company will record a right of use asset and a lease payment obligation associated with arrangements previously accounted for as operating leases. The Company is in the process of evaluating the impact of the provisions of this new accounting guidance on its cons olidated financial position, but does not expect the new accounting guidance to have a material impact on its consolidated financial position or results of operations. In January 2016, the FASB issued new accounting guidance on recognition and measurement of financial instruments. The new guidance makes targeted changes to existing GAAP including, among other provisions, requiring certain equity investments to be measure d at fair value with changes in fair value reported in earnings and requiring changes in instrument-specific credit risk. The new guidance is effective on January 1, 2018. The Company does not expect the provisions of this new accounting guidance to have a material impact on its consolidated financial position or results of operations. In May 2014, the FASB issued new accounting guidance to clarify the principles for recognizing revenue from contracts with customers. This new accounting guidance is effecti ve on January 1, 2018. The Company does not expect the provisions of this new accounting guidance to have a material impact on its consolidated financial position or results of operations . |
Resticted Cash
Resticted Cash | 6 Months Ended |
Jun. 30, 2016 | |
Restricted Cash And Investments Abstract | |
Resticted Cash Disclosure | NOTE 2 – RESTRICTED CASH The following table includes the composition of the Company’s restricted cash : June 30, December 31, 2016 2015 (In thousands) Cash pledged as collateral to other financial institutions to secure: Derivatives $ 1,980 $ 1,980 Obligations under agreement of loans sold with recourse 1,050 1,369 $ 3,030 $ 3,349 At June 30 , 2016 and December 31 , 2015 , 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 O ffice of the C ommissioner of F inancial I nstitutions of Puerto Rico . As part of its derivative activities, the Company has entered into collateral agreements with certain financial counterparties. At June 30 , 2016 and December 31 , 2015 , the Company had delivered $ 2 .0 million of cash as collateral for s uch derivatives 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 June 30 , 2016 and December 31 , 2015 , the Compan y delivered as c ollateral cash amounting to $1.1 million and $1.4 million, respectively . The Bank is required by Puerto Rico law to maintain average weekly reserve balances to cover demand deposits . The amount of those minimum average reserve balances for the week that covered June 30 , 2016 was $ 1 78.1 million ( December 31 , 2015 - $ 14 8 . 3 million). At June 30 , 2016 and December 31 , 2015 , the Bank complied with such requirement. Cash and due fr om bank as well as other short-term, highly liquid securities are used to cover the required average reserve balances . |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2016 | |
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 June 30 , 2016 and December 31 , 2015 , money market instruments i ncluded as part of cash and cash equivalents amounted to $5.7 million and $4.7 million , respectively . Investment Securities The amortized cost, gross unrealized gains and losses, fair value, and weighted average yield of the securities owned by the Company at June 30 , 2016 and December 31 , 2015 were as follows: June 30, 2016 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 $ 402,557 $ 14,414 $ - $ 416,971 2.61% GNMA certificates 109,214 5,064 - 114,278 3.06% CMOs issued by US government-sponsored agencies 120,238 416 179 120,475 1.87% Total mortgage-backed securities 632,009 19,894 179 651,724 2.55% Investment securities Obligations of US government-sponsored agencies 4,468 34 - 4,502 1.37% Obligations of Puerto Rico government and public instrumentalities 6,720 - 872 5,848 5.55% Other debt securities 2,101 127 - 2,228 2.94% Total investment securities 13,289 161 872 12,578 3.73% Total securities available for sale $ 645,298 $ 20,055 $ 1,051 $ 664,302 2.57% Held-to-maturity Mortgage-backed securities FNMA and FHLMC certificates $ 610,384 8,121 - 618,505 2.20% Investment securities US Treasury securities 25,015 10 - 25,025 0.49% Total securities held to maturity 635,399 8,131 - 643,530 2.13% Total $ 1,280,697 $ 28,186 $ 1,051 $ 1,307,832 2.36% December 31, 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 $ 735,363 $ 25,791 $ 1,509 $ 759,645 2.97% GNMA certificates 57,129 1,366 - 58,495 3.19% CMOs issued by US government-sponsored agencies 137,787 27 2,741 135,073 1.85% Total mortgage-backed securities 930,279 27,184 4,250 953,213 2.82% Investment securities Obligations of US government-sponsored agencies 5,122 - 29 5,093 1.36% Obligations of Puerto Rico government and public instrumentalities 17,801 - 4,070 13,731 6.24% Other debt securities 2,444 128 - 2,572 2.98% Total investment securities 25,367 128 4,099 21,396 4.94% Total securities available-for-sale $ 955,646 $ 27,312 $ 8,349 $ 974,609 2.87% Held-to-maturity Mortgage-backed securities FNMA and FHLMC certificates 595,157 426 5,865 589,718 2.24% Investment securities US Treasury securities 25,032 - 71 24,961 0.49% Total securities held to maturity 620,189 426 5,936 614,679 2.17% Total $ 1,575,835 $ 27,738 $ 14,285 $ 1,589,288 2.60% The amortized cost and fair value of the Company’s investment securities at June 30 , 2016 , 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. June 30, 2016 Available-for-sale Held-to-maturity Amortized Cost Fair Value Amortized Cost Fair Value (In thousands) (In thousands) Mortgage-backed securities Due from 5 to 10 years FNMA and FHLMC certificates $ 12,650 $ 12,996 $ - $ - Total due from 5 to 10 years 12,650 12,996 - - Due after 10 years FNMA and FHLMC certificates 389,907 403,975 610,384 618,505 GNMA certificates 109,214 114,278 - - CMOs issued by US government-sponsored agencies 120,238 120,475 - - Total due after 10 years 619,359 638,728 610,384 618,505 Total mortgage-backed securities 632,009 651,724 610,384 618,505 Investment securities Due from 1 to 5 years US Treasury securities - - 25,015 25,025 Obligations of Puerto Rico government and public instrumentalities 6,720 5,848 - - Total due from 1 to 5 years 6,720 5,848 25,015 25,025 Due from 5 to 10 years Obligations of US government and sponsored agencies 4,468 4,502 - - Other debt securities 2,101 2,228 - - Total due from 5 to 10 years 6,569 6,730 - - Total investment securities 13,289 12,578 25,015 25,025 Total securities available-for-sale and held-to-maturity $ 645,298 $ 664,302 $ 635,399 $ 643,530 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 pur chased. During the six-month period ended June 30, 201 6 , the Company retained securitized Government National Mortgage Association (" GNMA ") pools to taling $ 54.2 million amortized cost, at a yield of 3.01 % from its own originations. Previously, the Company was selling all securitized GNMA pools. The GNMA pools were sold until June 2015. During the six-month period ended June 30, 2015 , the Company sold $ 63.5 millio n of available-for-sale GNMA certificates as part of its recurring mortgage loan origination and securitization activities. These sales did not realize any gai ns or losses during such period. During the six-month period ended June 30, 2016, the Company so ld $277.2 million of mortgage-backed securities and $11.1 million of Puerto Rico government bonds, and recorded a net gain on sale of securities of $12.2 million. Among the 2016 sales, the Company sold all but one of the Puerto Rico government bonds it he ld. The Company had other-than-temporary impairment charges on such securities sold totaling $1.5 million during the second half of 2015. During the six-month period ended June 30, 2015 , the Company sold $101.3 million of mortgage-backed securities and recorded a net gain on sale of securities of $2.6 million. T he table below presents the gross realized gains and gross realized losses by category for such periods . Six-Month Period Ended June 30, 2016 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 $ 293,505 $ 277,181 $ 16,324 $ - Investment securities Obligations of Puerto Rico government and public instrumentalities 6,978 11,095 - 4,117 Total $ 300,483 $ 288,276 $ 16,324 $ 4,117 Six-Month Period Ended June 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 $ 37,735 $ 2,571 $ - GNMA certificates 63,524 63,523 1 - Total $ 103,831 $ 101,258 $ 2,572 $ - 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 June 30 , 2016 and December 31 , 2015 : June 30, 2016 12 months or more Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies $ 54,449 $ 179 $ 54,270 Obligations of Puerto Rico government and public instrumentalities 6,720 872 5,848 $ 61,169 $ 1,051 $ 60,118 At June 30, 2016 t here were no securities available-for-sale or held-to-maturity in a continuous unrealized loss position for less than twelve months. There were no securities held-to-maturity in a continuous unrealized loss position for twelve months or more . December 31, 2015 12 months or more Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale Obligations of Puerto Rico Government and public instrumentalities $ 17,801 $ 4,070 $ 13,731 CMOs issued by US government-sponsored agencies 103,340 2,410 100,930 $ 121,141 $ 6,480 $ 114,661 Less than 12 months Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies 25,736 331 25,405 FNMA and FHLMC certificates 149,480 1,509 147,971 Obligations of US government and sponsored agencies 5,122 29 5,093 Securities held to maturity FNMA and FHLMC certificates 468,487 5,865 462,622 US Treausury Securities 25,032 71 24,961 $ 673,857 $ 7,805 $ 666,052 Total Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies 129,076 2,741 126,335 FNMA and FHLMC certificates 149,480 1,509 147,971 Obligations of Puerto Rico Government and public instrumentalities 17,801 4,070 13,731 Obligations of US government and sponsored agencies 5,122 29 5,093 $ 301,479 $ 8,349 $ 293,130 Securities held to maturity FNMA and FHLMC certificates 468,487 5,865 462,622 US Treasury Securities 25,032 71 24,961 $ 794,998 $ 14,285 $ 780,713 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 dec line 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 basi s 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 shortfa ll 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 subjec t 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. Consequen tly, 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 ($ 54.5 million, amortized cost, or 89 %) with an unrea lized loss position at June 30 , 2016 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 los ses 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 ($ 6. 7 million, amortized c ost, or 11 %) with an unrealized loss position at June 30 , 2016 consist of obligations issued or guaranteed by the government of Puerto Rico and its public instrumentalities . The decline in the market value of thi s securit y is mainly attributed to an i ncrease in volatility as a result of changes in market conditions that reflect the significant economic and fiscal challenges that Puerto Rico is facing, including the government's credit default, a protracted economic recession, sizable government debt-se rvice obligations and structural budget deficits, high unemploy ment and a shrinking population . As of June 30 , 2016 , the Company applied a discounted cash flow analysis to the Puerto Rico government bond to calculate the cash flows expected to be co llected and determine if any portion of the decline in market value of these investments was considered an other -than-temporary impairment. The analysis derives an estimate of value based on the present value of risk-adjusted future cash flows of the under lying investments, and included the following components : The contractual future cash flows of the bonds are projected based on the key terms as set forth in the official statements for each investment. Such key terms include among others the interest rat e, amortization schedule, if any, and maturity date. The risk-adjusted cash flows are calculated based on a monthly default 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 an d expected risk-adjusted future cash flows as of the purchase date of each investment. The only obligation issued or guaranteed by the government of Puerto Rico and its instrumentalities held at the end of the second quarter of 2016 by the Company was the P uerto R ico Highway s and Transportation Authority (“PRHTA”) – Teodoro Moscoso Bridge revenue bond. The pledge income sources of this bond comes from gross revenues from Teodoro Moscoso Bridge operations. Although PRHTA is included in the Puerto Ri co Governor's executive order of November 30, 2015 ordering the '" clawback " of certain government revenues, the toll bridge revenues for the repayment of such bonds we re not subject to the “ clawback . " All other Puerto Rico government securities were sold during the first quarter of 2016. The PRHTA bond with a principal amount of $ 6.7 million had an aggregate fair value of $ 5.8 million at June 30 , 2016 ( 87 % of the bond 's cost ) . The discounted cash flow analysis for the investments showed a cumulative default probability at maturity of 10. 20 %, thus reflecting that it is more likely th an not that the bond will not default during its remaining term. Based on this analysis, the Company determined that it is more likely than not that it will recover all int erest and principal invested in this Puerto Rico government bond and is , therefore , not required to recognize a credit loss as of June 30 , 2016 . Also, the Company’s conclusion is based on the assessment of the specific source of repayment of the outstanding bond, which continues to perform. PRHTA started principal repayments on July 1, 2014. All scheduled pri ncipal and interest payments to date have been collected. On July 1, 2016, the Company received the scheduled principal payment of $ 2.0 milli on. The next payment is due on July 1, 2017. As a result of the aforementioned analysis, no other-than-temporary losses were recorded during the quarter ended June 30 , 2016 . The following table presents a roll-forward of credit-related impairment los ses recognized in earnings for the six-month period ended June 30, 2016 and 2015 on available-for-sale securities: Six-Month Period Ended June 30, 2016 2015 Balance at beginning of period $ 1,490 $ - Reductions for securities sold during the period (realized) (1,490) - Balance at end of period $ - $ - |
Loans Receivable
Loans Receivable | 6 Months Ended |
Jun. 30, 2016 | |
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 to as "originated and other" loans) and loans acquired (referred to 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-share coverage related to commercial and other-non single family acquired Eurobank loans expired on June 30, 2015 . Notwithstanding the expiration of loss share coverage of commercial 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 commercial loss-sharing agreement. Pursuant to such agreement, and as further discussed below, the FDIC agreed to and paid $20 million in loss share coverage with respect to the aggregate loss resulting from a ny portfolio sale within 120 days of the agreement. This sale was completed on September 28, 2015 . Covered loans are no longer a material amount. Therefore, the Company changed its loan disclosures during 2015. The coverage for the single family residential loans will expire on June 30, 2020 . At June 30 , 2016 , the remaining covered loans , amounting to $ 65.8 million, net carrying amount ($ 76.8 million gross amount), are included as part of acquired Eurobank loans under the name "loans secured by 1-4 family residential properties . " At December 31 , 2015 , covered loans amounted to $ 67.2 million, net carrying amount ($ 92.3 million gross amount). Interest income recognized for covered loans during the six-month p eriods ended June 30 , 2016 and 2015 was $ 4.3 million and $ 28.3 million, respectively. The decrease in interest income recognized for covered loans is due to the expiration of the FDIC loss-share coverage related to commercial and other-non single fa mily residential loans on June 30, 2015. Effective June 30, 2016, pursuant to supervisory direction, the Company changed the purchase credit impaired policy for all loans accounted for under ASC 310-30 ( Loans and Debt Securities Acquired with Deteriorate d Credit Quality ). Under the revised policy, the Company writes-off the loan’s recorded investment and derecognizes the associated allowance for loan and lease losses for loans that exit the acquired pools. The revised policy will be implemented prospecti vely due to the immaterial impact o f retrospective adoption. Prior to June 30, 2016, the pool’s carrying value and allowance was determined by discounting expected cash flows at the pool’s effective yield. The allowance for loan and lease losses was maint ained until all of the loans in the pool were paid off or charged-off. The transition to this revised policy on June 30, 2016 resulted in the de-recognition of $ 8.5 million and $ 72.2 million in the recorded investment balance and associated allowance for loans that had exited the pools, for acquired BBVAPR loans and acquired Eurobank loans, respectively, with no impact to the provision for loan and lease losses. Refer to Note 5 Allowances for Loan and Lease Losses . The composition of the Company’s loan portfolio at June 30 , 2016 and December 31 , 2015 was as follows June 30, December 31, 2016 2015 (In thousands) Originated and other loans and leases held for investment: Mortgage $ 741,917 $ 757,828 Commercial 1,476,613 1,441,649 Consumer 265,269 242,950 Auto and leasing 712,268 669,163 3,196,067 3,111,590 Allowance for loan and lease losses on originated and other loans and leases (112,812) (112,626) 3,083,255 2,998,964 Deferred loan costs, net 4,619 4,203 Total originated and other loans loans held for investment, net 3,087,874 3,003,167 Acquired loans: Acquired BBVAPR loans: Accounted for under ASC 310-20 (Loans with revolving feature and/or acquired at a premium) Commercial 4,559 7,457 Consumer 35,194 38,385 Auto 77,118 106,911 116,871 152,753 Allowance for loan and lease losses on acquired BBVAPR loans accounted for under ASC 310-20 (4,487) (5,542) 112,384 147,211 Accounted for under ASC 310-30 (Loans acquired with deteriorated credit quality, including those by analogy) (a) Mortgage 591,029 608,294 Commercial 246,188 287,311 Construction 76,917 88,180 Consumer 7,331 11,843 Auto 117,038 153,592 1,038,503 1,149,220 Allowance for loan and lease losses on acquired BBVAPR loans accounted for under ASC 310-30 (b) (22,801) (25,785) 1,015,702 1,123,435 Total acquired BBVAPR loans, net 1,128,086 1,270,646 Acquired Eurobank loans: (a) Loans secured by 1-4 family residential properties 76,777 92,273 Commercial and construction 83,377 142,377 Consumer 1,410 2,314 Total acquired Eurobank loans 161,564 236,964 Allowance for loan and lease losses on Eurobank loans (b) (22,116) (90,178) Total acquired Eurobank loans, net 139,448 146,786 Total acquired loans, net 1,267,534 1,417,432 Total held for investment, net 4,355,408 4,420,599 Mortgage loans held-for-sale 18,209 13,614 Total loans, net $ 4,373,617 $ 4,434,213 (a) Current period amounts have been re-measured using the revised derecognition policy for purchased credit impaired loans. (b) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was derecognized on June 30, 2016 due to the revision in the derecognition policy for these loans. Originated and Other Loans and Leases Held for Investment The Company ’s originated and other loans held for investment are encompassed within four portfolio segments: mortgage, commercial, consumer , and auto and leasing. The following table s present the aging of the recorded investment in gross originated and other loans held for investment as of June 30 , 2016 and December 31 , 2015 by class of loans . Mortgage loans past due include delinquent loans in the GNMA buy-back option program. Servicers of l oans underlying GNMA mortgage-backed securities must report as their own assets the defaulted loans that they have the option (but not the obligation) to repurchase, even when they elect not to exercise that option . June 30, 2016 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 $ 260 $ 2,024 $ 2,973 $ 5,257 $ - $ 48,801 $ 54,058 $ 227 Years 2003 and 2004 343 3,936 6,201 10,480 65 84,208 94,753 - Year 2005 - 1,878 3,826 5,704 64 46,293 52,061 - Year 2006 743 2,243 6,741 9,727 50 64,109 73,886 - Years 2007, 2008 and 2009 854 1,414 11,793 14,061 - 69,957 84,018 699 Years 2010, 2011, 2012, 2013 498 1,307 9,420 11,225 142 133,384 144,751 416 Years 2014, 2015 and 2016 - 189 901 1,090 62 98,209 99,361 - 2,698 12,991 41,855 57,544 383 544,961 602,888 1,342 Non-traditional - 938 5,217 6,155 12 20,028 26,195 - Loss mitigation program 9,898 6,574 15,738 32,210 3,857 68,014 104,081 3,770 12,596 20,503 62,810 95,909 4,252 633,003 733,164 5,112 Home equity secured personal loans - - - - - 384 384 - GNMA's buy-back option program - - 8,369 8,369 - - 8,369 - Total mortgage 12,596 20,503 71,179 104,278 4,252 633,387 741,917 5,112 Commercial Commercial secured by real estate: Corporate - - - - - 230,296 230,296 - Institutional - - - - - 27,838 27,838 - Middle market - 125 8,589 8,714 2,255 209,127 220,096 - Retail 96 1,226 5,871 7,193 3,327 236,171 246,691 - Floor plan - - - - - 2,826 2,826 - Real estate - - - - - 16,079 16,079 - 96 1,351 14,460 15,907 5,582 722,337 743,826 - Other commercial and industrial: Corporate - - - - - 140,192 140,192 - Institutional - - - - 183,020 193,258 376,278 - Middle market 2,007 - - 2,007 1,421 102,112 105,540 - Retail 896 529 582 2,007 135 74,823 76,965 - Floor plan 6 38 40 84 - 33,728 33,812 - 2,909 567 622 4,098 184,576 544,113 732,787 - Total commercial 3,005 1,918 15,082 20,005 190,158 1,266,450 1,476,613 - June 30, 2016 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 459 177 432 1,068 - 23,809 24,877 - Overdrafts 15 1 - 16 - 204 220 - Personal lines of credit 42 14 94 150 - 2,281 2,431 - Personal loans 1,854 1,137 898 3,889 875 216,884 221,648 - Cash collateral personal loans 63 3 1 67 - 16,026 16,093 - Total consumer 2,433 1,332 1,425 5,190 875 259,204 265,269 - Auto and leasing 44,433 19,438 7,322 71,193 15 641,060 712,268 - Total $ 62,467 $ 43,191 $ 95,008 $ 200,666 $ 195,300 $ 2,800,101 $ 3,196,067 $ 5,112 December 31, 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 $ 80 $ 2,217 $ 3,889 $ 6,186 $ 41 $ 51,562 $ 57,789 $ 144 Years 2003 and 2004 251 5,036 5,536 10,823 - 88,623 99,446 - Year 2005 79 2,553 3,549 6,181 - 48,040 54,221 - Year 2006 551 2,878 7,934 11,363 176 66,864 78,403 - Years 2007, 2008 and 2009 170 2,053 14,733 16,956 - 74,590 91,546 526 Years 2010, 2011, 2012, 2013 662 1,673 10,519 12,854 141 137,749 150,744 72 Years 2014 and 2015 - 65 663 728 - 85,128 85,856 - 1,793 16,475 46,823 65,091 358 552,556 618,005 742 Non-traditional - 977 5,079 6,056 13 23,483 29,552 - Loss mitigation program 9,958 6,887 14,930 31,775 5,593 64,548 101,916 3,083 11,751 24,339 66,832 102,922 5,964 640,587 749,473 3,825 Home equity secured personal loans - - 64 64 - 346 410 - GNMA's buy-back option program - - 7,945 7,945 - - 7,945 - Total mortgage 11,751 24,339 74,841 110,931 5,964 640,933 757,828 3,825 Commercial Commercial secured by real estate: Corporate - - - - - 227,557 227,557 - Institutional 213 - - 213 - 33,594 33,807 - Middle market 1,174 712 9,113 10,999 1,730 194,219 206,948 - Retail 686 466 6,921 8,073 1,177 231,840 241,090 - Floor plan - - - - - 2,892 2,892 - Real estate - - - - - 16,662 16,662 - 2,073 1,178 16,034 19,285 2,907 706,764 728,956 - Other commercial and industrial: Corporate - - - - - 108,582 108,582 - Institutional - - - - 190,290 190,695 380,985 - Middle market - - - - 1,565 105,748 107,313 - Retail 282 639 604 1,525 783 75,489 77,797 - Floor plan 238 51 39 328 - 37,688 38,016 - 520 690 643 1,853 192,638 518,202 712,693 - Total commercial 2,593 1,868 16,677 21,138 195,545 1,224,966 1,441,649 - December 31, 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 449 182 369 1,000 - 21,766 22,766 - Overdrafts 24 - - 24 - 166 190 - Personal lines of credit 74 - 45 119 19 2,106 2,244 - Personal loans 2,078 1,179 627 3,884 414 196,858 201,156 - Cash collateral personal loans 125 17 2 144 - 16,450 16,594 - Total consumer 2,750 1,378 1,043 5,171 433 237,346 242,950 - Auto and leasing 53,566 16,898 8,293 78,757 49 590,357 669,163 - Total $ 70,660 $ 44,483 $ 100,854 $ 215,997 $ 201,991 $ 2,693,602 $ 3,111,590 $ 3,825 During 2015, the Company changed its early delinquency reporting on mortgage loans from one scheduled payment due to two scheduled payments due to be comparable with local peers, except for troubled-debt restructured loans which continue using one scheduled payment due for delinquency reporting. During the quarter ended June 30, 2016, the Company changed its early delinquency reporting on consumer and auto loans from one scheduled payment due to two scheduled payments to report consistently its retail portfolio. The change resulted in a $ 1 9 thousand and $ 5 . 9 million reduction in early and total delinquency for consumer and auto loans, respectively. A t June 30 , 2016 and December 31 , 2015 , the Company had carrying balances of $ 327.0 million and $ 334.6 million, respectively, in loans granted to the Puerto Rico government, including its instrumentalities , public corporations and municipalities as part of the institutional commercial loan seg ment . All loans granted to the Puerto Rico government were current at June 30 , 2016 and December 31 , 2015 . A s part of a bank syndicate, on November 5, 2015 the Company entered into a Restructuring Support Agreement with a view towards restructuring a line of credit to the Puerto Rico Electric Power Authority ("PREPA") on terms that provide for full repayment of the debt to the Bank. In the third quarter of 2014, the Com pany 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 various scenarios and its capacity to service its financial obligations, 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 Company classified the credit as doubtful, placed its participation in non-accrual and recorded a $ 24 million provision during the first quarter of 2015. During the fourth quarter of 2015, the Company recorded an additional $ 29.3 millio n provision for loan and lease losses on PREPA. Since it was placed in non-accrual, interest payments have been applied to principal. At June 30 , 2016 and December 31 , 2015 , the allowance for loan and lease losses to PREPA was $ 53.3 million. Acqu ired Loans Acquired loans were initially measured at fair value and subsequently accounted for under either ASC 310-30 or ASC 310-20 ( Non-refundable fees and Other Costs ). We have acquired loans in two bank acquisitions, BBVAPR and Eurobank . Acquired 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 int o 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 pr emium 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 June 30 , 2016 and December 31 , 2015 , by class of loans : June 30, 2016 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 $ - $ - $ 197 $ 197 $ - $ - $ 197 $ - Floor plan - - 446 446 - 2,309 2,755 - - - 643 643 - 2,309 2,952 - Other commercial and industrial Retail 37 17 120 174 - 1,426 1,600 - Floor plan - - 7 7 - - 7 - 37 17 127 181 - 1,426 1,607 - 37 17 770 824 - 3,735 4,559 - Consumer Credit cards 731 290 704 1,725 - 30,573 32,298 - Personal loans 116 14 60 190 - 2,706 2,896 - 847 304 764 1,915 - 33,279 35,194 - Auto 5,088 2,196 562 7,846 - 69,272 77,118 - Total $ 5,972 $ 2,517 $ 2,096 $ 10,585 $ - $ 106,286 $ 116,871 $ - December 31, 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 $ - $ - $ 228 $ 228 $ - $ - $ 228 $ - Floor plan - - 467 467 - 2,422 2,889 - - - 695 695 - 2,422 3,117 - Other commercial and industrial Retail 186 29 178 393 - 3,331 3,724 - Floor plan - - 7 7 - 609 616 - 186 29 185 400 - 3,940 4,340 - 186 29 880 1,095 - 6,362 7,457 - Consumer Credit cards 930 384 489 1,803 - 33,414 35,217 - Personal loans 14 29 46 89 - 3,079 3,168 - 944 413 535 1,892 - 36,493 38,385 - Auto 7,553 2,279 831 10,663 - 96,248 106,911 - Total $ 8,683 $ 2,721 $ 2,246 $ 13,650 $ - $ 139,103 $ 152,753 $ - 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 June 30 , 2016 and December 31 , 2015 is as follows: June 30, December 31, 2016 2015 (In thousands) Contractual required payments receivable (a) $ 1,788,121 $ 1,945,098 Less: Non-accretable discount 394,500 434,190 Cash expected to be collected 1,393,621 1,510,908 Less: Accretable yield 355,118 361,688 Carrying amount, gross 1,038,503 1,149,220 Less: allowance for loan and lease losses (b) 22,801 25,785 Carrying amount, net $ 1,015,702 $ 1,123,435 (a) Current period amounts have been re-measured using the revised derecognition policy for purchased credit impaired loans. (b) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was derecognized on June 30, 2016 due to the revision in the derecognition policy for these loans. At June 30 , 2016 and December 31 , 2015 , the Company had $ 7 1 . 6 million and $ 80.9 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 June 30 , 2016 and December 31 , 2015 . The following tables describe the accretable yield and non- accretable discount activity of acquired BBVAPR loans accounted for under ASC 310-30 for the Quarter Ended June 30, 2016 Mortgage Commercial Construction Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 260,557 $ 40,102 $ 17,156 $ 17,587 $ 5,261 $ 340,663 Accretion (8,294) (5,272) (1,307) (3,616) (870) (19,359) Change in expected cash flows - 3,062 (408) 630 (1) 3,283 Transfer from (to) non-accretable discount 31,560 (833) (193) (498) 495 30,531 Balance at end of period $ 283,823 $ 37,059 $ 15,248 $ 14,103 $ 4,885 $ 355,118 Non-Accretable Discount Activity: Balance at beginning of period $ 370,155 $ 10,716 $ 7,432 $ 21,938 $ 18,735 $ 428,976 Change in actual and expected losses (2,442) (967) (206) (315) (15) (3,945) Transfer (to) from accretable yield (31,560) 833 193 498 (495) (30,531) Balance at end of period $ 336,153 $ 10,582 $ 7,419 $ 22,121 $ 18,225 $ 394,500 Six-Month Period Ended June 30, 2016 Mortgage Commercial Construction Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 268,794 $ 45,411 $ 19,615 $ 21,578 $ 6,290 $ 361,688 Accretion (16,601) (11,111) (3,176) (7,827) (1,808) (40,523) Change in expected cash flows - 3,190 (208) 631 (1) 3,612 Transfer from (to) non-accretable discount 31,630 (431) (983) (279) 404 30,341 Balance at end of period $ 283,823 $ 37,059 $ 15,248 $ 14,103 $ 4,885 $ 355,118 Non-Accretable Discount Activity: Balance at beginning of period $ 374,772 $ 11,781 $ 6,764 $ 22,039 $ 18,834 $ 434,190 Change in actual and expected losses (6,989) (1,630) (328) (197) (205) (9,349) Transfer (to) from accretable yield (31,630) 431 983 279 (404) (30,341) Balance at end of period $ 336,153 $ 10,582 $ 7,419 $ 22,121 $ 18,225 $ 394,500 Quarter Ended June 30, 2015 Mortgage Commercial Construction Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 284,612 $ 57,330 $ 19,390 $ 47,097 $ 5,601 $ 414,030 Accretion (8,813) (9,597) (2,143) (6,163) (1,287) (28,003) Change in actual and expected losses - 23,695 9,867 - - 33,562 Transfer from (to) non-accretable discount 81 135 (2,501) (9,403) 4,147 (7,541) Balance at end of period $ 275,880 $ 71,563 $ 24,613 $ 31,531 $ 8,461 $ 412,048 Non-Accretable Discount Activity: Balance at beginning of period $ 392,609 $ 15,826 $ 3,957 $ 14,543 $ 23,576 $ 450,511 Change in actual and expected losses (3,421) (4,921) 536 (256) (73) (8,135) Transfer (to) from accretable yield (81) (135) 2,501 9,403 (4,147) 7,541 Balance at end of period $ 389,107 $ 10,770 $ 6,994 $ 23,690 $ 19,356 $ 449,917 Six-Month Period Ended June 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 (17,800) (20,356) (5,953) (13,151) (2,213) (59,473) Change in actual and expected losses - 23,695 9,867 - - 33,562 Transfer (to) from non-accretable discount (4,684) 7,028 (5,130) (9,316) 4,115 (7,987) Balance at end of period $ 275,880 71,563 24,613 31,531 8,461 412,048 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 (5,416) (5,271) (1,622) (1,841) (547) (14,697) Transfer from (to) accretable yield 4,684 (7,028) 5,130 9,316 (4,115) 7,987 Balance at end of period $ 389,107 $ 10,770 $ 6,994 $ 23,690 $ 19,356 $ 449,917 Acquired Eurobank Loans The carrying amount of acquired Eurobank loans at June 30 , 2016 and December 31 , 2015 is as follows: June 30 December 31 2016 2015 (In thousands) Contractual required payments receivable (a) $ 252,801 $ 342,511 Less: Non-accretable discount 11,555 21,156 Cash expected to be collected 241,246 321,355 Less: Accretable yield 79,682 84,391 Carrying amount, gross 161,564 236,964 Less: Allowance for loan and lease losses (b) 22,116 90,178 Carrying amount, net $ 139,448 $ 146,786 (a) Current period amounts have been re-measured using the revised derecognition policy for purchased credit impaired loans. (b) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was derecognized on June 30, 2016 due to the revision in the derecognition policy for these loans. The following tables describe the accretable yield and non- a ccretable discount activity of acquired Eurobank loans for the quarters and six-months periods ended June 30 , 2016 and 2015 : Quarter Ended June 30, 2016 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 $ 50,787 $ 33,203 $ 2,237 $ - $ - $ 86,227 Accretion (2,263) (4,528) (33) 2 (76) (6,898) Change in expected cash flows (198) 1,619 - (77) 81 1,425 Transfer from (to) non-accretable discount 10 (1,152) - 75 (5) (1,072) Balance at end of year $ 48,336 $ 29,142 $ 2,204 $ - $ - $ 79,682 Non-Accretable Discount Activity: Balance at beginning of period $ 12,703 $ - $ - $ - $ - $ 12,703 Change in actual and expected losses (1,138) (1,152) - 75 (5) (2,220) Transfer from (to) accretable yield (10) 1,152 - (75) 5 1,072 Balance at end of period $ 11,555 $ - $ - $ - $ - $ 11,555 Six-Month Period Ended June 30, 2016 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 $ 51,954 $ 26,970 $ 2,255 $ - $ 3,213 $ 84,392 Accretion (4,529) (8,623) (47) 2 (1,261) (14,458) Change in expected cash flows 786 12,712 (23) (77) (1,947) 11,451 Transfer from (to) non-accretable discount 125 (1,917) 19 75 (5) (1,703) Balance at end of period $ 48,336 $ 29,142 $ 2,204 $ - $ - $ 79,682 Non-Accretable Discount Activity: Balance at beginning of period $ 12,869 $ - $ - $ - $ 8,287 $ 21,156 Change in actual and expected losses (1,189) (1,917) 19 75 (8,292) (11,304) Transfer (to) from accretable yield (125) 1,917 (19) (75) 5 1,703 Balance at end of period $ 11,555 $ - $ - $ - $ - $ 11,555 Quarter Ended June 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 $ 58,332 $ 33,481 $ 20,806 $ 1,665 $ 2,004 $ 116,288 Accretion (3,276) (8,047) (405) (937) (93) (12,758) Transfer from non-accretable discount 750 2,039 (2,052) 375 (1) 1,111 Balance at end of period $ 55,806 $ 27,473 $ 18,349 $ 1,103 $ 1,910 $ 104,641 Non-Accretable Discount Activity: Balance at beginning of period $ 12,557 $ 10,493 $ - $ - $ 9,662 $ 32,712 Change in actual and expected losses (405) (8,454) (2,052) 375 67 (10,469) Transfer to accretable yield (750) (2,039) 2,052 (375) 1 (1,111) Balance at end of period $ 11,402 $ - $ - $ - $ 9,730 $ 21,132 Six-Month Period Ended June 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 (6,794) (17,902) (1,024) (2,329) (213) (28,262) Transfer from (to) non-accretable discount 14,964 7,456 (1,380) 953 1,051 23,044 Balance at end of period $ 55,806 $ 27,473 $ 18,349 $ 1,103 $ 1,910 $ 104,641 Non-Accretable Discount Activity: Balance at beginning of period $ 27,348 $ 24,464 $ - $ - $ 10,598 $ 62,410 Change in actual and expected cash flows (982) (17,008) (1,380) 953 183 (18,234) Transfer (to) from accretable yield (14,964) (7,456) 1,380 (953) (1,051) (23,044) Balance at end of period $ 11,402 $ - $ - $ - $ 9,730 $ 21,132 Non-accrual Loans The following table presents the recorded investment in loans in non-accrual status by class of loans as of June 30 , 2016 and December 31 , 2015 : June 30, December 31, 2016 2015 (In thousands) Originated and other loans and leases held for investment Mortgage Traditional (by origination year): Up to the year 2002 $ 2,812 $ 3,786 Years 2003 and 2004 6,359 5,737 Year 2005 3,889 3,627 Year 2006 7,135 8,189 Years 2007, 2008 and 2009 11,292 14,625 Years 2010, 2011, 2012, 2013 9,311 10,588 Years 2014, 2015 and 2016 963 663 41,761 47,215 Non-traditional 5,229 5,092 Loss mitigation program 18,769 20,172 65,759 72,479 Home equity loans, secured personal loans - 64 65,759 72,543 Commercial Commercial secured by real estate Middle market 10,969 12,729 Retail 10,352 8,726 21,321 21,455 Other commercial and industrial Institutional 183,020 190,290 Middle market 1,421 1,565 Retail 1,966 1,932 Floor plan 40 39 186,447 193,826 207,768 215,281 Consumer Credit cards 432 369 Personal lines of credit 94 100 Personal loans 1,812 1,146 Cash collateral personal loans 1 16 2,339 1,631 Auto and leasing 7,337 8,418 Total non-accrual originated loans $ 283,203 $ 297,873 June 30, December 31, 2016 2015 (In thousands) Acquired BBVAPR loans accounted for under ASC 310-20 Commercial Commercial secured by real estate Retail $ 197 $ 228 Floor plan 446 467 643 695 Other commercial and industrial Retail 120 178 Floor plan 7 7 127 185 770 880 Consumer Credit cards 704 489 Personal loans 60 46 764 535 Auto 562 831 Total non-accrual acquired BBVAPR loans accounted for under ASC 310-20 2,096 2,246 Total non-accrual loans $ 285,299 $ 300,119 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 or are accounted for under the cost recovery method. Delinquent residential mortgage loans insured or guaranteed under applicable Federal Housing Administration ("FHA") and U.S. Department of Veterans Affairs ("VA") programs are c lassified 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 bu t excluded from non-accrual loans. During the first quarter of 2015, the revolving line of credit to PREPA was classified as non-accrual. At June 30 , 2016 , this line of credit had an unpaid principal balance of $ 183 .0 million. Since the second quarte r of 2015, interest payments have been applied to principal. As of June 30 , 2016 , the specific reserve for the PREPA line of credit is $ 53.3 millio n. At June 30 , 2016 and December 31 , 2015 , loans whose terms have been extended and w hich are classifie d as troubled-debt restructurings that are not included in non-accrual loans amounted to $ 97.2 million and $ 93.6 million, respectively, as they are performing under their new term s. 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 $ 219.4 million and $ 2 35.8 million at June 30 , 2016 and December 31 , 2015 , respectively. Impaired commercial loans at June 30 , 2016 and December 31 , 2015 included the PREPA line of credit with an unpaid principal balance of $183. 0 million and $ 190.3 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 $ 56.8 million at June 30 , 2016 and $ 55.9 million at December 31 , 2015 . The valuation allowance for impaired commercial loans at June 30 , 2016 and December 31 , 2015 inclu ded $53.3 million of specific allowance for PREPA. The total investment in impaired mortgage loans was $ 90.9 million and $ 90.0 million at June 30 , 2016 and December 31 , 2015 , respectively. Impairment on mortgage loans assessed as troubled-debt restructurings was measured using the present value of cash flows. The valuation allowance for impaired mortgage loans amounted to $ 8.9 million at June 30 , 2016 and $ 9. 2 million at December 31 , 2015 . O riginated and Other Loans and L eases Held for Investment T he Company ’s recorded investment in commercial and mortgage 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 June 30 , 2016 and December 31 , 2015 are as follows : June 30, 2016 Unpaid Recorded Related Principal Investment Allowance Coverage (In thousands) Impaired loans with specific allowance: Commercial $ 212,876 $ 194,084 $ 56,758 29% Residential impaired and troubled-debt restructuring 99,145 90,948 8,864 10% Impaired loans with no specific allowance: Commercial 30,228 23,876 - 0% Total investment in impaired loans $ 342,249 $ 308,908 $ 65,622 21% December 31, 2015 Unpaid Recorded Related Principal Investment Allowance Coverage (In thousands) Impaired loans with specific allowance: Commercial $ 210,718 $ 199,366 $ 55,947 28% Residential impaired and troubled-debt restructuring 97,424 89,973 9,233 10% Impaired loans with no specific allowance Commercial 42,110 35,928 - 0% Total investment in impaired loans $ 350,252 $ 325,267 $ 65,180 20% 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 June 30 , 2016 and December 31 , 2015 are as follows: June 30, 2016 Unpaid Recorded Related Principal Investment Allowance Coverage (In thousands) Impaired loans with no specific allowance Commercial $ 1,450 $ 1,433 $ - 0% Total investment in impaired loans $ 1,450 $ 1,433 $ - 0% December 31, 2015 Unpaid Recorded Specific Principal Investment Allowance Coverage (In thousands) Impaired loans with no specific allowance Commercial $ 486 $ 474 $ - 0% Tota |
Allowance for Loan and Lease Lo
Allowance for Loan and Lease Losses | 3 Months Ended | 6 Months Ended |
Jun. 30, 2015 | Jun. 30, 2016 | |
Loans Receivable [Abstract] | ||
Allowance For Credit Losses Text Block | Six-Month Period Ended June 30, 2016 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 year $ 26 $ 3,429 $ 2,087 $ - $ 5,542 Charge-offs (19) (1,825) (1,308) - (3,152) Recoveries 40 169 1,044 - 1,253 Provision (recapture) for acquired BBVAPR loan and lease losses accounted for under ASC 310-20 (26) 1,229 (359) - 844 Balance at end of year $ 21 $ 3,002 $ 1,464 $ - $ 4,487 Six-Month Period Ended June 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 year $ 65 $ 1,211 $ 3,321 $ - $ 4,597 Charge-offs (16) (2,686) (2,304) - (5,006) Recoveries 17 563 1,072 - 1,652 Provision (recapture) for acquired loan and lease losses accounted for under ASC 310-20 (12) 3,528 770 - 4,286 Balance at end of period $ 54 $ 2,616 $ 2,859 $ - $ 5,529 | NOTE 5 – ALLOWANCE FOR LOAN AND LEASE LOSSES The composition of the Company’s allowance for loan and lease losses at June 30 , 2016 and December 31 , 2015 was as follows : June 30, December 31, 2016 2015 (In thousands) Allowance for loans and lease losses on non-acquired loans: Originated and other loans and leases held for investment: Mortgage $ 18,537 $ 18,352 Commercial 63,144 64,791 Consumer 11,771 11,197 Auto and leasing 19,259 18,261 Unallocated 101 25 Total allowance for originated and other loans and lease losses 112,812 112,626 Acquired loans: Acquired BBVAPR loans: Accounted for under ASC 310-20 (Loans with revolving feature and/or acquired at a premium) Commercial 21 26 Consumer 3,002 3,429 Auto 1,464 2,087 4,487 5,542 Accounted for under ASC 310-30 (Loans acquired with deteriorated credit quality, including those by analogy) (a) Mortgage 1,585 1,762 Commercial 15,863 21,161 Auto 5,353 2,862 22,801 25,785 Total allowance for acquired BBVAPR loans and lease losses 27,288 31,327 Acquired Eurobank loans: (a) Loans secured by 1-4 family residential properties 11,016 22,570 Commercial and other construction 11,096 67,365 Consumer 4 243 Total allowance for acquired Eurobank loan and lease losses (a) 22,116 90,178 Total allowance for loan and lease losses (a) $ 162,216 $ 234,131 (a) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was derecognized on June 30, 2016 due to the revision in the derecognition policy for these loans. The Company maintains an allowance for loan and lease losses at a level that management considers adequate to provide for probable losses based upon an evaluation of known and inherent risks. The Company’s allowance for loan and lease losses policy provides for a detailed quarterly analysis of probable losses. The analysis includes a review of historical loan loss experience, value of underlying collateral, current economic conditions, financial condition of borrowers and other pertinent factors. 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. Effective June 30, 2016, pursuant to supervisory direction, the Company revised its purchase credit impaired policy for all loans accounted for under ASC 310-30. Under the revised policy, the Company writes-off the loan’s recorded investment and derec ognizes the associated allowance for loan and lease losses for loans that exit the pools. The revised policy will be implemented prospectively due to the immaterial impact o f retrospective adoption. Prior to June 30, 2016, the pool’s carrying value and al lowance was determined by discounting expected cash flows at the pool’s effective yield. The allowance for loan and lease losses was maintained until all of the loans in the pool were paid off or charged-off. The transition to this revised policy on June 30, 2016 resulted in the de-recognition of $8.5 million and $72.2 million in the recorded investment balance and associated allowance for loans that had exited the pools for acquired BBVAPR loans and acquired Eurobank loans, respectively, with no impact to the provision for loan and lease losses. 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 origina ted and other loans held for investment by segment for the periods indicated: Quarter Ended June 30, 2016 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 $ 18,784 $ 64,206 $ 11,414 $ 18,716 $ 118 $ 113,238 Charge-offs (1,374) (833) (2,811) (8,100) - (13,118) Recoveries 36 228 133 3,243 - 3,640 Provision (recapture) for originated and other loans and lease losses 1,091 (457) 3,035 5,400 (17) 9,052 Balance at end of period $ 18,537 $ 63,144 $ 11,771 $ 19,259 $ 101 $ 112,812 Six-Month Period Ended June 30, 2016 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 $ 18,352 $ 64,791 $ 11,197 $ 18,261 $ 25 $ 112,626 Charge-offs (3,036) (1,844) (5,138) (16,462) - (26,480) Recoveries 181 316 235 6,222 - 6,954 Provision (recapture) for loan and lease losses 3,040 (119) 5,477 11,238 76 19,712 Balance at end of period $ 18,537 $ 63,144 $ 11,771 $ 19,259 $ 101 $ 112,812 June 30, 2016 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 $ 8,864 $ 56,758 $ - $ - $ - $ 65,622 Collectively evaluated for impairment 9,673 6,386 11,771 19,259 101 47,190 Total ending allowance balance $ 18,537 $ 63,144 $ 11,771 $ 19,259 $ 101 $ 112,812 Loans: Individually evaluated for impairment $ 90,948 $ 217,960 $ - $ - $ - $ 308,908 Collectively evaluated for impairment 650,969 1,258,653 265,269 712,268 - 2,887,159 Total ending loan balance $ 741,917 $ 1,476,613 $ 265,269 $ 712,268 $ - $ 3,196,067 Quarter Ended June 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 $ 18,086 $ 33,123 $ 9,405 $ 15,762 $ 383 $ 76,759 Charge-offs (1,356) (497) (2,309) (7,662) - (11,824) Recoveries 67 219 390 3,425 - 4,101 Provision for originated and other loans and lease losses 1,279 1,934 2,978 3,539 223 9,953 Balance at end of period $ 18,076 $ 34,779 $ 10,464 $ 15,064 $ 606 $ 78,989 December 31, 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 $ 9,233 $ 55,947 $ - $ - $ - $ 65,180 Collectively evaluated for impairment 9,119 8,844 11,197 18,261 25 47,446 Total ending allowance balance $ 18,352 $ 64,791 $ 11,197 $ 18,261 $ 25 $ 112,626 Loans: Individually evaluated for impairment $ 89,973 $ 235,294 $ - $ - $ - $ 325,267 Collectively evaluated for impairment 667,855 1,206,355 242,950 669,163 - 2,786,323 Total ending loan balance $ 757,828 $ 1,441,649 $ 242,950 $ 669,163 $ - $ 3,111,590 Allowance for BBVAPR Acquired Loan Losses Loans accounted for under ASC 310-20 (Loans with revolving feature and/or acquired at a premium) The following tables present the activity in our allowance for loan losses and related recorded investment of the associated loans in our BBVAPR acquired loan portfolio, excluding loans accounted for under ASC 310-30, for the periods indicated : Quarter Ended June 30, 2016 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 $ 23 $ 3,243 $ 1,727 $ - $ 4,993 Charge-offs (12) (1,013) (571) - (1,596) Recoveries 8 88 446 - 542 Provision (recapture) for acquired BBVAPR loan and lease losses accounted for under ASC 310-20 2 684 (138) - 548 Balance at end of period $ 21 $ 3,002 $ 1,464 $ - $ 4,487 June 30, 2016 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 $ 21 $ 3,002 $ 1,464 $ - $ 4,487 Total ending allowance balance $ 21 $ 3,002 $ 1,464 $ - $ 4,487 Loans: Individually evaluated for impairment $ 1,433 $ - $ - $ - $ 1,433 Collectively evaluated for impairment 3,126 35,194 77,118 - 115,438 Total ending loan balance $ 4,559 $ 35,194 $ 77,118 $ - $ 116,871 Quarter Ended June 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 $ 49 $ 1,885 $ 3,516 $ - $ 5,450 Charge-offs (16) (1,303) (1,038) - (2,357) Recoveries 7 429 502 - 938 Provision (recapture) for acquired loan and lease losses accounted for under ASC 310-20 14 1,605 (121) - 1,498 Balance at end of period $ 54 $ 2,616 $ 2,859 $ - $ 5,529 December 31, 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 $ 26 $ 3,429 $ 2,087 $ - $ 5,542 Total ending allowance balance $ 26 $ 3,429 $ 2,087 $ - $ 5,542 Loans: Individually evaluated for impairment $ 474 $ - $ - $ - $ 474 Collectively evaluated for impairment 6,983 38,385 106,911 - 152,279 Total ending loan balance $ 7,457 $ 38,385 $ 106,911 $ - $ 152,753 Loans Accounted for under ASC 310-30 (including those accounted for under ASC 310-30 by analogy) The following tables present the activity in our allowance for loan losses and related recorded investment of the acquired BBVAPR loan portfolio accounted for under ASC 310-30, for the periods indicated : Quarter Ended June 30, 2016 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 $ 1,762 $ 20,430 $ - $ 5,555 $ 27,747 (Recapture) provision for BBVAPR loans and lease losses accounted for under ASC 310-30 (163) 3,977 - - 3,814 Loan pools fully charged-off (14) - - (202) (216) Allowance de-recognition (a) - (8,544) - - (8,544) Balance at end of period $ 1,585 $ 15,863 $ - $ 5,353 $ 22,801 (a) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was derecognized on June 30, 2016 due to the revision in the derecognition policy for these loans. Six-Month Period Ended June 30, 2016 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 $ 1,678 $ 21,245 $ - $ 2,862 $ 25,785 (Recapture) provision for BBVAPR loans and lease losses accounted for under ASC 310-30 (79) 3,228 - 2,693 5,842 Loan pools fully charged-off (14) (66) - (202) (282) Allowance de-recognition (a) - (8,544) - - (8,544) Balance at end of period $ 1,585 $ 15,863 $ - $ 5,353 $ 22,801 (a) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was derecognized on June 30, 2016 due to the revision in the derecognition policy for these loans. Allowance for Acquired Eurobank Loan Losses For loans accounted for under ASC 310- 30, as part of the evaluation of actual versus expected cash flows, the Company assesses on a quarterly basis the credit quality of these loans based on delinquency, severity factors and risk ratings, among other assumptions. Migration and credit quality trends are assessed at the pool level, by comparing information from the latest evaluation period through the end of the reporting period. The changes in the allowance for loan and lease losses on acquired Eurobank loans for the quarters and six-month periods ended June 30 , 2016 and 2015 were as follows: Quarter Ended June 30, 2016 Loans Secured by 1-4 Family Residential Properties Commercial and Construction Consumer Leasing Total (In thousands) Allowance for loan and lease losses for acquired Eurobank loans: Balance at beginning of period $ 23,961 $ 68,089 $ 243 $ - $ 92,293 Provision (recapture) for acquired Eurobank loans and lease losses, net 237 801 (7) - 1,031 FDIC shared-loss portion of provision for covered loan and lease losses, net 951 - - - 951 Allowance de-recognition (a) (14,133) (57,794) (232) - (72,159) Balance at end of period $ 11,016 $ 11,096 $ 4 $ - $ 22,116 (a) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was derecognized on June 30, 2016 due to the revision in the derecognition policy for these loans. Six-Month Period Ended June 30, 2016 Loans Secured by 1-4 Family Residential Properties Commercial and Construction Consumer Leasing Total (In thousands) Allowance for loan and lease losses for acquired Eurobank loans: Balance at beginning of period $ 22,570 $ 67,365 $ 243 $ - $ 90,178 Provision (recapture) for acquired Eurobank loans and lease losses, net 184 1,659 (7) - 1,836 FDIC shared-loss portion of provision for covered loan and lease losses, net 2,395 - - - 2,395 Loan pools fully charged-off - (134) - - (134) Allowance de-recognition (a) (14,133) (57,794) (232) - (72,159) Balance at end of year $ 11,016 $ 11,096 $ 4 $ - $ 22,116 (a) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was derecognized on June 30, 2016 due to the revision in the derecognition policy for these loans. Quarter Ended June 30, 2015 Mortgage Commercial and Construction Consumer Leasing Total (In thousands) Allowance for loan and lease losses for acquired Eurobank loans: Balance at beginning of period $ 17,340 $ 52,922 $ 389 $ - $ 70,651 Provision (recapture) for Eurobank loans and lease losses, net 148 (253) - - (105) FDIC shared-loss portion of provision for covered loan and lease losses, net 105 801 - - 906 Balance at end of period $ 17,593 $ 53,470 $ 389 $ - $ 71,452 Six-Month Period Ended June 30, 2015 Mortgage Commercial and Construction Consumer Leasing Total (In thousands) Allowance for loan and lease losses for Eurobank loans: Balance at beginning of year $ 15,522 $ 48,334 $ 389 $ - $ 64,245 Provision for Eurobank loans and lease losses, net 1,966 2,738 - - 4,704 FDIC shared-loss portion of provision for covered loan and lease losses, net 105 2,398 - - 2,503 Balance at end of year $ 17,593 $ 53,470 $ 389 $ - $ 71,452 The FDIC shared-loss portion of provision for acquired Eurobank loans and lease losses, net, represents the credit impairment losses to be covered under the FDIC loss-share agreement which is increasing the FDIC loss-share indemnification asset. T he FDIC loss sharing obligation , 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 covered loans are included as part of acquired Eurobank loans under the name "loans secured by 1-4 family residential properties." At June 30 , 2016 and December 31 , 2015 , allowance for loan losses on loans covered by the FDIC shared-loss agreement amounted to $ 11.0 million and $ 2 2.6 million, respectively. The provision for covered loan and lease losses for the quarters ended June 30 , 2016 and 2015 was $ 237 thousand and a recapture of $ 105 thousand, respectively. |
FDIC Indemnification Asset and
FDIC Indemnification Asset and True-up Payment Obligation | 6 Months Ended |
Jun. 30, 2016 | |
Banking and Thrift [Abstract] | |
FDIC Indemnification Asset and True-up Payment Obligation [Text Block] | NOTE 6 - FDIC INDEMNIFICATION ASSET, TRUE-UP PAYMENT OBLIGATION, AND FDIC SHARED-LOSS EXPENSE 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-l oss 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 fam ily 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 end of the quarter of the acquisition . The coverage under the commercial shared-loss agreement expired on June 30, 2015. The shared-loss agreements also provide for certain costs directly related to the collection and preservation of covered assets to be reimbursed at an 80% level. The 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 paymen t obligation for the quarters and six-month periods ended June 30 , 2016 and 2015 : Quarter Ended June 30, Six-Month Period Ended June 30, 2016 2015 2016 2015 (In thousands) (In thousands) FDIC indemnification asset: Balance at beginning of period $ 20,923 $ 75,221 $ 22,599 $ 97,378 Shared-loss agreements reimbursements from the FDIC (332) (24,387) (737) (38,087) Increase in expected credit losses to be covered under shared-loss agreements, net 951 906 2,395 2,503 FDIC indemnification asset expense (1,405) (22,512) (4,269) (34,733) Incurred expenses to be reimbursed under shared-loss agreements (1,711) (6,524) (1,562) (4,357) Balance at end of period $ 18,426 $ 22,704 $ 18,426 $ 22,704 True-up payment obligation: Balance at beginning of period $ 25,235 $ 22,844 $ 24,658 $ 21,981 Change in true-up payment obligation 537 733 1,114 1,596 Balance at end of period $ 25,772 $ 23,577 $ 25,772 $ 23,577 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 expectations 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 collections throughout the remaining life of the underlying pools. This amortization is recognized in the FDIC shared-loss expense account. The underlyin g factors that caused an increase in the expected cash flows and resulting reduction in projected losses are derived from the pool-level cash flow forecasts. Credit loss assumptions used to develop each pool-level cash flow forecast are based on the behavi or of defaults, recoveries and losses of the corresponding pool of covered loans. The FDIC loss-share coverage for the commercial loans was in effect until June 30, 2015. Accordingly, the Company amortized the remaining portion of the FDIC indemnificatio n asset attributable to non-single family loans at the close of the second quarter of 2015. At June 30 , 2016 and December 31 , 2015 , the FDIC indemnification asset reflects only the balance for single family residential mortgage loan s. The Company ha s owed payments to the FDIC for the recovery of prior claims for commercial loans. At June 30 , 2016 , the liability for these payments amounted to $ 1.1 million and is recorded in other liabilities in the consolidated statements of financial condition u ntil cash is paid to the FDIC. There was no liability at June 30 , 2015 . The FDIC indemnification asset expense decreased to $1.4 million for the quarter ended June 30 , 2016 when compared to $22.5 million for the same period in 2015. The expense of $4.3 million for the six-month period ended June 30 , 2016 represented a decrease of $30.5 million when compared to $34.7 million for the same period in 2015. The decrease during the period was principally driven by the expiration of the FDIC loss- share coverage for commercial loans and other non-single family residential loans. Also in connection with the FDIC-assisted acquisition, the Bank agreed to make a true-up payment, also known as clawback liability or clawback provision, to the FDIC on t he 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 expe cted levels. Under the shared-loss agreements, the Bank will pay to the FDIC 50% of the excess, if any, of: ( i ) 20% of the Intrinsic Loss Estimate of $906.0 million (or $181.2 million) (as determined by the FDIC) less (ii) the sum of: (A) 25% of the asset discount (per bid) (or $227.5 million); plus (B) 25% of the cumulative shared-loss payments (defined as the aggregate of all of the payments made or payable to the Bank minus the aggregate of all of the payments made or payable to the FDIC); plus (C) the s um 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 agreemen t 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 estimated liability is included within accrued expenses and other liabil ities in the unaudited consolidated statements of financial condition. This true-up payment obligation may increase if actual and expected losses decline. The Company measures the true-up payment obligation at fair value. The changes in fair value are inc luded as a change in true-up payment obligation within the 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 June 30 , 2016 and December 31 , 2015 : June 30, December 31, 2016 2015 (In thousands) Carrying amount (fair value) $ 25,772 $ 24,658 Undiscounted amount $ 33,782 $ 34,956 In connection with the FDIC-assisted acquisition, the Company recognized an FDIC shared-loss expense, net, in the unaudited consolidated statements of operations, which consists of the following for the quarters and six-month periods ended June 30 , 2016 and 2015 : Quarter Ended June 30, Six-Month Period Ended June 30, 2016 2015 2016 2015 (In thousands) (In thousands) FDIC indemnification asset expense $ 1,405 $ 22,512 $ 4,269 $ 34,733 Change in true-up payment obligation 537 733 1,114 1,596 Reimbursement to FDIC for recoveries 1,478 - 2,066 - Total FDIC shared-loss expense, net $ 3,420 $ 23,245 $ 7,449 $ 36,329 |
Derivative Activities
Derivative Activities | 6 Months Ended |
Jun. 30, 2016 | |
Derivative Activities [Abstract] | |
Derivative Acitivities | NOTE 7 — DERIVATIVE S The following table presents the Company’s derivative assets and liabilities at June 30 , 2016 and December 31 , 2015 : June 30, December 31, 2016 2015 (In thousands) Derivative assets: Options tied to S&P 500 Index $ 187 $ 1,170 Interest rate swaps not designated as hedges 1,703 1,819 Interest rate caps 36 32 Other - 4 $ 1,926 $ 3,025 Derivative liabilities: Interest rate swaps designated as cash flow hedges $ 3,656 $ 4,307 Interest rate swaps not designated as hedges 1,703 1,819 Interest rate caps 36 32 Other 18 4 $ 5,413 $ 6,162 Interest Rate Swaps The Company enters into interest rate swap contracts to hedge the variability of future interest cash flows of forecasted wholesale borrowings attributable to changes in a predetermined variable index rate. The interest rate swaps effectively fix the Company’s interest payments on an amount of forecasted interest expense attributable to the variable index rate corresponding to the swap notional stated rate. These swaps are designated as cash flow hedges for the forecasted wholesale borrowing transactions, are properly documented as such, and therefore, qualify for cash flow hedge accounting. Any gain or loss associated with the effective portion of the cash flow hedges is recognized in other comprehensive income (loss) and is subsequ ently 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 accumulated other comprehensive income to the extent there is no significant in effectiveness 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 interest rate swaps to operations in the next twelve months . The following table shows a summary of these swaps and their terms at June 30 , 2016 : Notional Fixed Variable Trade Settlement Maturity Type Amount Rate Rate Index Date Date Date (In thousands) Interest Rate Swaps $ 25,000 2.6200% 1-Month LIBOR 05/05/11 07/24/12 07/24/16 25,000 2.6350% 1-Month LIBOR 05/05/11 07/30/12 07/30/16 50,000 2.6590% 1-Month LIBOR 05/05/11 08/10/12 08/10/16 100,000 2.6750% 1-Month LIBOR 05/05/11 08/16/12 08/16/16 37,290 2.4210% 1-Month LIBOR 07/03/13 07/03/13 08/01/23 $ 237,290 An accumulated unrealized loss of $ 3.7 million and $ 4 . 3 million was recognized in accumulated other comprehensive income related to the valuation of these swaps at June 30 , 2016 and December 31 , 2015 , respectively, and the related liability is being reflected in the accompanying unaudited consolidated statements of financial condition. At June 30 , 2016 and December 31 , 2015 , interest rate swaps not designated as hedging instruments that were offered to clients represented an asset of $1.7 million and $1.8 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 June 30 , 2016 and December 31 , 2015 , interest rate swaps not designated as hedging instruments that are the mirror-images of the derivatives offered to clients represented a liability of $1.7 million and $1.8 million, respectively , a nd were included as part of derivative liabilities in the unaudited consolidated statements of financial condition. The following table shows a summary of these interest rate swaps not designated as hedging instruments and their terms at June 30 , 2016 : Notional Fixed Variable Settlement Maturity Type Amount Rate Rate Index Date Date (In thousands) Interest Rate Swaps - Derivatives Offered to Clients $ 3,682 5.1300% 1-Month LIBOR 07/03/06 07/03/16 12,500 5.5050% 1-Month LIBOR 04/11/09 04/11/19 $ 16,182 Interest Rate Swaps - Mirror Image Derivatives $ 3,682 5.1300% 1-Month LIBOR 07/03/06 07/03/16 12,500 5.5050% 1-Month LIBOR 04/11/09 04/11/19 $ 16,182 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 premium. 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 June 30 , 2016 and December 31 , 2015 , the purchased options used to manage exposure to the S&P 500 Index on stock indexed deposits represented an asset of $187 thousand (notional amount of $ 425 thousand ) and $ 1.2 million (notional amount of $ 3.4 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 $ 181 thousand ( notional amount of $ 411 thousand ) and $ 1.1 million (notional amount of $ 3.2 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. As of June 30 , 2016 and December 31 , 2015 , t he out standing total notional amount of interest rate caps was $ 124.5 million and $ 1 09.8 million, respectively. At June 30 , 2016 and December 31 , 2015 , the interest rate caps sold to clients represented a liability of $36 thousand and $3 2 thousand , respecti vely, and were included as part of derivative liabilities in the unaudited consolidated statements of financial condition. At June 30 , 2016 and December 31 , 2015 , the interest rate caps purchased as mirror-images represented an asset of $36 thousand a nd $32 thousand , respectively, and were included as part of derivative assets in the unaudited c onsolidated statements of financial condition. |
Accrued Interest Receivable and
Accrued Interest Receivable and Other Assets | 6 Months Ended |
Jun. 30, 2016 | |
Accrued Interest Receivable And Other Assets [Abstract] | |
Other Assets Disclosure [Text Block] | NOTE 8 — ACCRUED INTEREST RECEIVABLE AND OTHER ASSET S Accrued interest receivable at June 30 , 2016 and December 31 , 2015 consists of the following: June 30, December 31, 2016 2015 (In thousands) Loans, excluding acquired loans $ 16,545 $ 16,020 Investments 3,464 4,617 $ 20,009 $ 20,637 Other assets at June 30 , 2016 and December 31 , 2015 consist of the following : June 30, December 31, 2016 2015 (In thousands) Prepaid expenses 16,332 11,762 Other repossessed assets 3,866 6,226 Core deposit and customer relationship intangibles 6,999 7,838 Mortgage tax credits 6,277 6,277 Investment in Statutory Trust 1,083 1,083 Accounts receivable and other assets 42,255 42,786 $ 76,812 $ 75,972 Prepaid expenses amounting to $16.3 million and $1 1.8 million at June 30 , 2016 and December 31 , 2015 , respectively, include prepaid municipal, property and income taxes aggregating to $ 11.2 million and $ 7.0 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 June 30 , 2016 and December 31 , 2015 this core deposit intangible amounted to $ 4.8 million and $ 5.3 million, respectively . In ad dition, the Company recorded a customer relationship intangible representing the value of customer relationships acquired with the acquisition of the securities broker-dealer and insurance agency in the BBVAPR Acquisition. At June 30 , 2016 and December 31 , 2015 this customer relationship intangible amounted to $ 2.2 million and $ 2.5 million, respectively. Other repossessed assets totaled $3. 9 million at June 30 , 2016 and $ 6.2 million at December 31 , 2015 , include repo ssessed automobiles amounting to $ 3.7 million and $ 5.5 million, respectively, which are recorded at their net realizable value. At June 30 , 2016 and December 31 , 2015 , mortgage tax credits for the Company totaled $6.3 million for both periods. These tax credits do not have an expiration date. |
Deposits and Related Interest
Deposits and Related Interest | 6 Months Ended |
Jun. 30, 2016 | |
Deposits and Related Interest [Abstract] | |
Deposit and Related Interest | NOTE 9 — DEPOSITS AND RELATED INTEREST Total deposits, including related accrued interest payable, as of June 30 , 2016 and December 31 , 2015 consists of the following: June 30, December 31, 2016 2015 (In thousands) Non-interest bearing demand deposits $ 917,260 $ 762,009 Interest-bearing savings and demand deposits 2,165,907 2,208,180 Individual retirement accounts 269,189 268,799 Retail certificates of deposit 525,979 441,998 Institutional certificates of deposit 204,074 253,791 Total core deposits 4,082,409 3,934,777 Brokered deposits 561,645 782,974 Total deposits $ 4,644,054 $ 4,717,751 Brokered deposits include $ 495.9 million in certificates of deposits and $ 65.7 million in money market accounts at June 30 , 2016 , and $ 711.4 million in certificates of deposits and $ 71.6 million in money market accounts at December 31 , 2015 . T he weighted average interest rate of the Company’s deposits was 0.63 % and 0.5 7 % at June 30 , 2016 and December 31 , 2015 , respectively. Interest expense for the quarters and six-month periods ended June 30 , 2016 and 2015 was as follows : Quarter Ended June 30, Six-Month Period Ended June 30, 2016 2015 2016 2015 (In thousands) (In thousands) Demand and savings deposits $ 3,184 $ 3,100 $ 6,026 $ 6,482 Certificates of deposit 4,183 3,504 8,465 7,226 $ 7,367 $ 6,604 $ 14,491 $ 13,708 At June 30 , 2016 and December 31 , 2015 , demand and interest-bearing deposits and certificates of deposit included deposits of the Puerto Rico Cash & Money Market Fund, Inc., which amounted to $ 104.4 million and $ 103.7 million, respectively, with a weighted average rate of 0.77 % for both periods, and were collateralized with investment securities with a fair value of $ 84.7 million and $ 81. 6 million, respectively. At June 30 , 2016 and December 31 , 2015 , time deposits in denominations of $ 25 0 thousand or higher, excluding accrued interest and unamortized discounts, amounted to $ 340. 9 million and $ 376.8 million , respectively. Such amounts include public fund time deposits from various Puerto Rico government municipalities, agencies, and corporations of $ 9.2 million and $ 7.6 million at a weighted average rate of 0.55 % and 0. 49 % at June 30 , 2016 and December 31 , 2015 , respectively. At June 30 , 2016 and December 31 , 2015 , total public fund deposits from various Puerto Rico government municipalities, agencies, and corporations amounted to $ 88.4 million and $ 99.0 million, respectively. These public funds were collateralized with commercial loans amounting to $ 410.9 million at June 30 , 2016 and December 31 , 2015 . Excluding equity indexed options in the amount of $ 181 thousand , which are used by the Company to manage its exposure to the S&P 500 Index, and also excluding accrued interest of $ 1.8 million and unamortized deposit discount in the amount of $ 150 thousand, the scheduled maturities of certificates of deposit at June 30 , 2016 and December 31 , 2015 are as follows: June 30, 2016 December 31, 2015 (In thousands) Within one year: Three (3) months or less $ 225,512 $ 474,051 Over 3 months through 1 year 518,304 501,551 743,816 975,602 Over 1 through 2 years 513,092 454,906 Over 2 through 3 years 155,666 176,406 Over 3 through 4 years 36,059 32,396 Over 4 through 5 years 44,340 33,715 $ 1,492,973 $ 1,673,025 The table of scheduled maturities of certificates of deposits above includes brokered-deposits and individual retirement accounts. The aggregate amount of overdrafts in demand deposit accounts that were reclassified to loans amounted to $ 569 thousand as of June 30 , 2016 and $ 1. 5 million as of December 31 , 2015 . |
Borrowings
Borrowings | 6 Months Ended |
Jun. 30, 2016 | |
Debt Disclosure [Abstract] | |
Borrowings | NOTE 10 — BORROWINGS AND RELATED INTEREST Securities Sold under Agreements to Repurchase At June 30 , 2016 , 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 June 30 , 2016 and December 31 , 2015 , securities sold under agreements to repurchase (classified by counterparty), excluding accrued interest in the amount of $ 1.6 million and $ 2.2 million, respectively , were as follows: June 30, December 31, 2016 2015 Fair Value of Fair Value of Borrowing Underlying Borrowing Underlying Balance Collateral Balance Collateral (In thousands) JP Morgan Chase Bank NA $ 222,500 $ 231,586 $ 262,500 $ 283,483 Credit Suisse Securities (USA) LLC 402,000 437,103 670,000 737,887 Total $ 624,500 $ 668,689 $ 932,500 $ 1,021,370 The following table shows a summary of the Company’s repurchase agreements and their terms, excluding accrued interest in the amount of $1.6 million, at June 30 , 2016 : Weighted- Borrowing Average Maturity Year of Maturity Balance Coupon Settlement Date Date (In thousands) 2016 $ 170,000 1.500% 12/6/2012 12/8/2016 2017 232,000 4.780% 3/2/2007 3/2/2017 2018 222,500 1.420% 12/10/2012 4/29/2018 $ 624,500 2.690% The Company's repurchase agreement in the original amount of $ 500 million with an original term of ten years, maturing on March 2, 2017, was modified in February 2016 to terminate , before maturity , $ 268.0 million of this repurchase agreement at a cost of $12.0 million, included as a loss on early extinguishment of debt in the unaudited statements of operations. The remaining balance of this repurchase agreement was $ 232.0 million at June 30 , 2016 . 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 June 30 , 2016 and December 31 , 2015 . There was no cash collateral at June 30 , 2016 and December 31 , 2015 . June 30, 2016 Market Value of Underlying Collateral Weighted FNMA and US Treasury Repurchase Average FHLMC GNMA Treasury Liability Rate Certificates Certificates Notes Total (Dollars in thousands) Over 90 days $ 624,500 2.69% $ 646,889 $ 1,579 $ 20,221 $ 668,689 December 31, 2015 Market Value of Underlying Collateral Weighted FNMA and US Treasury Repurchase Average FHLMC GNMA Treasury Liability Rate Certificates Certificates Notes Total (Dollars in thousands) Less than 90 days $ 30,000 0.70% $ 31,961 $ - $ - $ 31,961 Over 90 days 902,500 3.18% 974,698 2,131 12,580 989,409 Total $ 932,500 3.10% $ 1,006,659 $ 2,131 $ 12,580 $ 1,021,370 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 June 30 , 2016 and December 31 , 2015 , these advances were secured by mortgage and commercial loans amounting to $ 1.5 billion and $ 1. 3 billion, respectively. Also, at June 30 , 2016 and December 31 , 2015 , the Company had an additional borrowing capacity with the FHLB- NY of $ 895.0 million and $ 770.6 million, respectively. At June 30 , 2016 and December 31 , 2015 , the weighted average remaining maturity of FHLB’s advances was 5.4 months and 6.3 months , respectively. The original terms of these advances range s between one month and seven years, and the FHLB-NY does not have the right to exercise put options at par on any advances outstanding as of June 30 , 2016 . The following table shows a summary of these advances and their terms, excluding accrued interest in the amount of $ 3 3 6 thousand , at June 30 , 2016 : Weighted- Borrowing Average Maturity Year of Maturity Balance Coupon Settlement Date Date (In thousands) 2016 $ 50,000 0.56% 6/10/2016 7/11/2016 100,000 0.59% 6/16/2016 7/18/2016 25,000 0.60% 6/24/2016 7/25/2016 25,000 0.57% 6/30/2016 7/29/2016 37,290 0.63% 6/1/2016 7/1/2016 237,290 2017 4,150 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 9,704 2.59% 7/19/2013 7/20/2020 $ 306,144 0.95% 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 $103.0 million and $102 .6 million at June 30 , 2016 and December 31 , 2015 , respectively. Under the requirements of Puerto Rico Banking Act, the Bank must establish a redemption fund for the subordinated capital notes, which will mature o n September 29, 2016, by transferring from undivided profits pre- established amounts as follows: Redemption fund (In thousands) Redemption fund at June 30, 2016 $ 67,000 $ 67,000 Other borrowings Other borrowings, presented in the unaudited consolidated statements of financial condition amounted to $1. 8 million and $1.7 million at June 30 , 2016 and December 31 , 2015 , respectively, which mainly consists of unsecured fixed-rate borrowings . |
Offset of Assets_Liabilities
Offset of Assets/Liabilities | 6 Months Ended |
Jun. 30, 2016 | |
Offsetting [Abstract] | |
Balance sheet Offsetting [Text Block] | NOTE 11 – OFFSETTING OF FINANCIAL ASSETS AND LIABILITIES The Company’s derivatives are subject to agreements which allow a right of set-off with each respective counterparty. In addition, the Company’s securities purchased under agreements to resell and securities sold under agreements to repurchase have a right of set-off with the respective counterparty under the supplemental terms of the master repurchase agreements. In an event of default, each party has a right of set-off against the other party for amounts owed in the related agreements and any other amount or obligation owed in respect of any other agreement or transaction between them. Security collateral posted to open and maintain a master netting agreement with a counterparty, in the form of cas h and securities, may from time to time be segregated in an account at a third-party custodian pursuant to a an account control agreement. The following table presents the potential effect of rights of set-off associated with the Company’s recognized fina ncial assets and liabilities at June 30 , 2016 and December 31 , 2015 : June 30, 2016 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 $ 1,926 $ - $ 1,926 $ 2,009 $ - $ (83) December 31, 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 $ 3,025 $ - $ 3,025 $ 2,000 $ - $ 1,025 June 30, 2016 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 $ 5,594 $ - $ 5,594 $ - $ 1,980 $ 3,614 Securities sold under agreements to repurchase 624,500 - 624,500 668,689 - (44,189) Total $ 630,094 $ - $ 630,094 $ 668,689 $ 1,980 $ (40,575) December 31, 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 $ 7,257 $ - $ 7,257 $ - $ 1,980 $ 5,277 Securities sold under agreements to repurchase 932,500 - 932,500 1,021,370 - (88,870) Total $ 939,757 $ - $ 939,757 $ 1,021,370 $ 1,980 $ (83,593) |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jun. 30, 2016 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | NOTE 1 2 — RELATED PARTY TRANSACTIONS The Bank grants loans to its dire ctors, executive officers and 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 six-month periods ended June 30 , 2016 and 2015 was as follows: Quarter Ended June 30, Six-Month Period Ended June 30, 2016 2015 2016 2015 (In thousands) (In thousands) Balance at the beginning of year $ 31,134 $ 27,508 $ 31,475 $ 27,011 New loans and disbursements 1,596 6,457 1,799 10,312 Repayments (2,034) (647) (2,578) (4,005) Balance at the end of period $ 30,696 $ 33,318 $ 30,696 $ 33,318 |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2016 | |
Income Taxes [Abstract] | |
Income Taxes | NOTE 1 3 — INCOME TAXES On May 26, 2016, Law 54 o f 2016 was enacted to repeal the Value Added Tax (VAT) approved in 2015. Although this law was vetoed by the Governor, the Puerto Rico's Senate and House of Representatives were able to override the veto. As a result, the current Sales and Use Tax (SUT) remains in effect, with a rate of 11.5% on most transactions and a rate of 4% for business to business transactions and designated professional services. At June 30 , 2016 and December 31 , 2015 , the Co mpany’s net deferred tax asset amounted to $143.0 million and $145.9 million, respectively. In assessing the realizability of the deferred tax asset, management considers whether it is more likely than not that some portion or the entire deferred tax asset will not be realized. The ultimate realization of the deferred tax asset is dependent upon the generation of future taxab le income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Based up on the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax asset are deductible, management believes it is more likely than not that the Company will realize the deferred tax asset, net of the existing valuation allowances recorded at June 30 , 2016 and December 31 , 2015 . 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 per iod are reduced. At June 30, 2016 and December 31, 2015, Oriental International Bank Inc. (“OIB”), the Bank’s international banking entity subsidiary, had $ 126 thousand and $ 141 thousand, respectively, in income tax effect of unrecognized gain on availabl e-for-sale securities included in other comprehensive income. Following the change in OIB’s applicable tax rate from 5% to 0% as a result of a Puerto Rico law adopted in 2011, this remaining tax balance will flow through income as these securities are repa id or sold in future periods. During the quarter ended June 30, 2016 and 2015, $ 8 thousand and $ 12 thousand, respectively , related to this residual tax effect from OIB was reclassified from accumulated other comprehensive income (loss) into income tax prov ision . During the six-month period ended June 30, 2016 and 2015, $ 16 thousand and $ 22 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 was $ 2. 3 million at June 30 , 2016 and $ 2.2 million at December 31 , 2015 . The Company had accrued $ 8 1 thousand at June 30 , 2016 and $ 175 thousand at December 31 , 2015 for the payment of interest and penalties relating to unrecognized tax benefits. Income tax expense for the quarters ended June 30 , 2016 and 2015 was $5. 9 million and $769 thousand, respectively. Income tax expense for the six-month periods ended June 30 , 2016 and 2015 was $11.5 million and $1.7 million, respectively. |
Regulatory Capital Requirements
Regulatory Capital Requirements | 6 Months Ended |
Jun. 30, 2016 | |
Regulatory Capital Requirements Abstract | |
Regulatory Capital Requirements Under Banking Regulations Text Block | NOTE 1 4 — 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 rules: ( 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 rules 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 new capital rules, 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 June 30 , 2016 and December 31 , 2015 , the Company and the Bank met all capital adequacy requirements to w hich they are subject. As of June 30 , 2016 and December 31 , 2015 , the Bank is “well capitalized” under the regulatory framework for prompt corrective action. To be categorized as “well capitalized,” an institution must maintain minimum CET1 risk-based, Ti er 1 risk-based, total risk-based, and Tier 1 leverage ratios as set forth in the tables presented below . The New Capital Rules also introduce a new 2.5% “capital conservation buffer”, composed entirely of CET1, on top of the three minimum risk-weighted a sset ratios. The capital conservation buffer is designed to absorb losses during periods of economic stress. Banking institutions with a ratio of CET1 to risk-weighted assets above the minimum but below the capital conservation buffer will face constraints on dividends, equity repurchases and compensation based on the amount of the shortfall. Thus, when fully phased-in on January 1, 2019, the Company and the Bank will be required to maintain such an additional capital conservation buffer of 2.5% of CET1, ef fectively resulting in minimum ratios of ( i ) CET1 to risk-weighted assets of at least 7%, (ii) Tier 1 capital to risk-weighted assets of at least 8.5%, and (iii) Total capital to risk-weighted assets of at least 10.5%. The implementation of the capital con servation buffer began on January 1, 2016 at the 0.625% level and increase by 0.625% on each subsequent January 1, until it reaches 2.5% on January 1, 2019. At June 30 , 2016 the Company and the Bank met the capital buffer requirement . The Company ’s and the Bank’s actual capital a mounts and ratios as of June 30 , 2016 and December 31 , 2015 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 June 30, 2016 Total capital to risk-weighted assets $ 849,147 18.00% $ 377,323 8.00% $ 471,653 10.00% Tier 1 capital to risk-weighted assets $ 788,349 16.71% $ 282,992 6.00% $ 377,323 8.00% Common equity tier 1 capital to risk-weighted assets $ 596,080 12.64% $ 212,244 4.50% $ 306,575 6.50% Tier 1 capital to average total assets $ 788,349 11.92% $ 264,633 4.00% $ 330,791 5.00% As of December 31, 2015 Total capital to risk-weighted assets $ 846,748 17.29% $ 391,723 8.00% $ 489,654 10.00% Tier 1 capital to risk-weighted assets $ 782,912 15.99% $ 293,792 6.00% $ 391,723 8.00% Common equity tier 1 capital to risk-weighted assets $ 594,482 12.14% $ 220,344 4.50% $ 318,275 6.50% Tier 1 capital to average total assets $ 782,912 11.18% $ 280,009 4.00% $ 350,011 5.00% Minimum Capital Minimum to be Well Actual Requirement Capitalized Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Bank Ratios As of June 30, 2016 Total capital to risk-weighted assets $ 830,002 17.62% $ 376,874 8.00% $ 471,093 10.00% Tier 1 capital to risk-weighted assets $ 769,424 16.33% $ 282,656 6.00% $ 376,874 8.00% Common equity tier 1 capital to risk-weighted assets $ 769,424 16.33% $ 211,992 4.50% $ 306,210 6.50% Tier 1 capital to average total assets $ 769,424 11.68% $ 263,464 4.00% $ 329,330 5.00% As of December 31, 2015 Total capital to risk-weighted assets $ 815,458 16.70% $ 390,688 8.00% $ 488,360 10.00% Tier 1 capital to risk-weighted assets $ 751,886 15.40% $ 293,016 6.00% $ 390,688 8.00% Common equity tier 1 capital to risk-weighted assets $ 751,886 15.40% $ 219,762 4.50% $ 317,434 6.50% Tier 1 capital to average total assets $ 751,886 10.80% $ 278,399 4.00% $ 347,999 5.00% |
Stockholders' Equity
Stockholders' Equity | 6 Months Ended |
Jun. 30, 2016 | |
Stockholders' Equity [Abstract] | |
Stockholders' equity | NOTE 15 – 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 June 30 , 2016 and December 31 , 2015 accumulated issuance costs charged against additional paid- in capital amounted to $ 13.6 million and $ 10.1 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 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 June 30 , 2016 and December 31 , 2015 , the Bank’s legal surplus amounted to $ 73.3 million and $ 70.4 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 u p to $ 70 million of i ts 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. There were no repurchases during the six-month period ended June 30 , 2016 . During the six-month period ended June 30, 2015, the Company purchased 303,985 shares u nder this program for a total of $ 4.2 million at an average price of $ 13. 90 per share. The number of shares that may yet be purchased under the $70 million program is estimated at 931,428 and was calculated by dividing the remaining balance of $ 7.7 million by $ 8.30 (closing price of the Company common stock at June 30 , 2016 ). The Company did not purchase any shares of its common stock during the six-month period ended June 30 , 2016 and 2015 , other than through its publicly announced stock purch ase program . The activity in connection with common shares held in treasury by the Company for the six-month periods ended June 30 , 2016 and 2015 is set forth below : Six-Month Period Ended June 30 2016 2015 Dollar Dollar Shares Amount Shares Amount (In thousands, except shares data) Beginning of period 8,757,960 $ 105,379 8,012,254 $ 97,070 Common shares used upon lapse of restricted stock units (45,810) (505) (58,279) (640) Common shares repurchased as part of the stock repurchase program - - 303,985 4,238 End of period 8,712,150 $ 104,874 8,257,960 $ 100,668 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 6 Months Ended |
Jun. 30, 2016 | |
Disclosure Text Block Abstract | |
Comprehensive Income Note Text Block | NOTE 16 - ACCUMULATED OTHER COMPREHENSIVE INCOME Accumulated other comprehensive income, net of income tax, as of June 30 , 2016 and December 31 , 2015 consisted of: June 30, December 31, 2016 2015 (In thousands) Unrealized gain on securities available-for-sale which are not other-than-temporarily impaired $ 19,004 $ 22,044 Unrealized gain on securities available-for-sale which are other-than-temporarily impaired - (3,196) Income tax effect of unrealized gain on securities available-for-sale (919) (1,924) Net unrealized gain on securities available-for-sale which are not other-than-temporarily impaired, net of tax 18,085 16,924 Unrealized loss on cash flow hedges (3,655) (4,307) Income tax effect of unrealized loss on cash flow hedges 1,375 1,380 Net unrealized loss on cash flow hedges (2,280) (2,927) Accumulated other comprehensive income, net of taxes $ 15,805 $ 13,997 The following table presents changes in accumulated other comprehensive income by component, net of taxes, for the quarters and six-month periods ended June 30 , 2016 and 2015 : Quarter Ended June 30, 2016 2015 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 $ 15,089 $ (2,805) $ 12,284 $ 30,214 $ (5,890) $ 24,324 Other comprehensive income (loss) before reclassifications 3,060 (949) 2,111 (11,523) (180) (11,703) Amounts reclassified out of accumulated other comprehensive (loss) income (64) 1,474 1,410 141 1,539 1,680 Other comprehensive income (loss) 2,996 525 3,521 (11,382) 1,359 (10,023) Ending balance $ 18,085 $ (2,280) $ 15,805 $ 18,832 $ (4,531) $ 14,301 Six-Month Period Ended June 30, 2016 2015 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 $ 16,924 $ (2,927) $ 13,997 $ 25,764 $ (6,053) $ 19,711 Other comprehensive (loss) before reclassifications (1,266) (2,406) (3,672) (7,212) (1,549) (8,761) Amounts reclassified out of accumulated other comprehensive income (loss) 2,427 3,053 5,480 280 3,071 3,351 Other comprehensive income (loss) 1,161 647 1,808 (6,932) 1,522 (5,410) Ending balance $ 18,085 $ (2,280) $ 15,805 $ 18,832 $ (4,531) $ 14,301 The following table presents reclassifications out of accumulated other comprehensive income for the quarters and six-month periods ended June 30 , 2016 and 2015 : Amount reclassified out of accumulated other comprehensive income Affected Line Item in Quarter Ended June 30, Consolidated Statement 2016 2015 of Operations (In thousands) Cash flow hedges: Interest-rate contracts $ 1,354 $ 1,614 Net interest expense Tax effect from increase in capital gains tax rate 120 (75) Income tax expense Available-for-sale securities: Residual tax effect from OIB's change in applicable tax rate 8 12 Income tax expense Tax effect from increase in capital gains tax rate (72) 129 Income tax expense $ 1,410 $ 1,680 Amount reclassified out of accumulated other comprehensive income Affected Line Item in Six-Month Period Ended June 30, Consolidated Statement 2016 2015 of Operations (In thousands) Cash flow hedges: Interest-rate contracts $ 2,804 $ 3,220 Net interest expense Tax effect from increase in capital gains tax rate 249 (149) Income tax expense Available-for-sale securities: Residual tax effect from OIB's change in applicable tax rate 16 22 Income tax expense Other-than-temporary impairment losses on available for sale securities realized during the period 2,557 - Tax effect from increase in capital gains tax rate (146) 258 Income tax expense $ 5,480 $ 3,351 |
Earnings Per Common Share
Earnings Per Common Share | 6 Months Ended |
Jun. 30, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share Text Block | NOTE 17 – EARNINGS (LOSS) PER COMMON SHARE The calculation of earnings (loss) per common share for the quarters and six-month periods ended June 30 , 2016 and 2015 is as follows: Quarter Ended June 30, Six-Month Period Ended June 30, 2016 2015 2016 2015 (In thousands, except per share data) (In thousands, except per share data) Net income (loss) $ 14,339 $ (3,109) $ 28,510 $ (6,097) Less: Dividends on preferred stock Non-convertible preferred stock (Series A, B, and D) (1,629) (1,628) (3,256) (3,256) Convertible preferred stock (Series C) (1,837) (1,838) (3,675) (3,675) Income (loss) available to common shareholders $ 10,873 $ (6,575) $ 21,579 $ (13,028) Effect of assumed conversion of the convertible preferred stock 1,837 1,838 3,675 3,675 Income (loss) available to common shareholders assuming conversion $ 12,710 $ (4,737) $ 25,254 $ (9,353) Weighted average common shares and share equivalents: Average common shares outstanding 43,914 44,505 43,906 44,569 Effect of dilutive securities: Average potential common shares-options 43 110 37 148 Average potential common shares-assuming conversion of convertible preferred stock 7,138 7,159 7,138 7,159 Total weighted average common shares outstanding and equivalents 51,095 51,774 51,081 51,876 Earnings (loss) per common share - basic $ 0.25 $ (0.15) $ 0.49 $ (0.29) Earnings (loss) per common share - diluted $ 0.25 $ (0.15) $ 0.49 $ (0.29) In computing diluted earnings (loss) per common share , the 84,000 shares of convertible preferred stock, which remain outstanding at June 30 , 2016 , 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 (loss) per common share, the divide nds declared during the quarters ended June 30 , 2016 and 2015 on the convert ible preferred stock were added back as income available to common shareholders. For the quarters ended June 30 , 2016 and 2015 , weighted-average stock options with an anti-dilutive effect on earnings (loss) per share not included in the calculati on amounted to 957,743 and 566 , 025 , respectively For the six-month periods ended June 30 , 2016 and 2015 , weighted-average stock options with an anti-dilutive effect on earnings (loss) per share not included in the calculation amounted to $ 957,783 and $ 457,467, respectively . |
Guarantees
Guarantees | 6 Months Ended |
Jun. 30, 2016 | |
Guarantees [Abstract] | |
Guarantees [Text Block] | NOTE 18 – GUARANTEES At June 30 , 2016 , the unamortized balance of the obligations undertaken in issuing the guarantees under standby letters of credit represented a liability of $ 2.3 million ( December 31 , 2015 - $ 14.7 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 and securitization programs. At June 30 , 2016 and December 31 , 2015 , the unpaid princ ipal balance of residential mortgage loans sold subject to credit recourse was $ 21.1 million and $ 22 . 4 million, respectively. The following table shows the changes in the Company’s liability for estimated losses from these credit recourse agreements, included in the unaudited consolidated statements of financial condition during the quarters and six-month periods ended June 30 , 2016 and 2015 . Quarter Ended June 30, Six-Month Period Ended June 30, 2016 2015 2016 2015 (In thousands) (In thousands) Balance at beginning of period $ 181 $ 487 $ 439 $ 927 Net (charge-offs/terminations) recoveries (19) (198) (277) (638) Balance at end of period $ 162 $ 289 $ 162 $ 289 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. The reco urse obligation will be fully extinguished before the end of 2017. 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 six-month period ended June 30 , 2016 , the Company repurchased approximately $ 83 thousand and $ 2 88 thousand , respectively of unpaid principal balance in mortgage loans subject to the credit recourse provisions. During the qu arter and six-mon th period ended June 30 , 2015 , the Company repurchased approximately $ 1.2 million and $ 3.4 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 June 30 , 2016 , the Company’s liability for estimated credit losses related to loans sold with credit recourse amounted to $ 16 2 thousand ( December 31 , 2015 – $ 439 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 whic h are exchanged for FNMA and GNMA mortgage-backed securities that 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 procedur es 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. During the quarter and six-month period ended June 30 , 2016 , the Company repurchased $ 817 thousand and $ 2.3 million , respectively, of unpaid principal balance in mortgage loans , excluding mortgage loans subject to credit recourse provisions referred to above. During the quarter and six-month period ended June 30 , 2015 , the Company repurchased $ 2.7 million and $ 11.7 million, respectively, of unpaid principal balance in mortgage loans, excluding mortgage loans subject to credit recourse provisions referred to above . During the quarter and six-month period ended June 30, 2016, the Company recognized $ 92 thousand and $ 1 1 1 thousand, respectively, in losses from the repurchase of residential mortgage loans sold subject to credit re course, and $ 329 thousand and $ 830 thousand , respectively, in losses from the repurchase of residential mortgage loans as a result of breaches of the customary representations and warranties. During the quarter and six-month period ended June 30 , 2015 , the Company recognized $ 476 thousand and $ 583 thousand, respectively, in losses from the repurchase of residential mortgage loans sold subject to credit recourse, and $ 742 thousand and $ 1.5 million, respectively, in losses from the repurchase of resident ial mortgage loans as a result of breaches of the customary representations and warranties. Servicing agreements relating to the mortgage-backed securities programs of FNMA and GNMA, and to mortgage loans sold or serviced to certain other investors, inclu ding the Federal Home Loan Mortgage Corporation (“FHLMC”), require the Company to advance funds to make scheduled payments of principal, interest, taxes and insurance, if such payments have not been received from the borrowers. At June 30 , 2016 , the C ompany serviced $ 726.6 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 cost of the funds it advances during the time the advance is outstanding. The Company must also bear the costs of attempting to collect on delinquent and defaulted mortgage loans. In addition, if a defaulted loan is not cured, the mortgage loan would be canceled as part of the foreclosure proceedings and the Company would not receive any future servicing income with respect to t hat loan. At June 30 , 2016 , the outstanding balance of funds advanced by the Company under such mortgage loan servicing agreements was approximately $ 339 thousand (December 31, 2015 - $ 301 thousand). To the extent the mortgage loans underlying the Com pany's servicing portfolio experience increased delinquencies, the Company would be required to dedicate additional cash resources to comply with its obligation to advance funds as well as incur additional administrative costs related to increases in colle ction efforts. |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2016 | |
Commitments and Contingencies [Abstract] | |
Commitments | NOTE 19 — COMMITMENTS AND CONTINGENCIES Loan Commitments In the normal course of business, the Company becomes a party to credit-related financial instruments with off-balance-sheet risk to meet the financing needs of its customers. These financial instruments include commitments to extend credit, standby and commercial letters of credit, and financial guarantees. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized in the consol idated 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 nonperform ance by the counterparty to the financial instrument for commitments to extend credit, including commitments under credit card arrangements, and commercial letters of credit is represented by the contractual notional amounts of those instruments, which do not necessarily represent the amounts potentially subject to risk. In addition, the measurement of the risks associated with these instruments is meaningful only when all related and offsetting transactions are identified. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. Credit-related financial instruments at June 30 , 2016 and December 31 , 2015 were as follows: June 30, December 31, 2016 2015 (In thousands) Commitments to extend credit $ 461,054 $ 456,720 Commercial letters of credit 1,556 1,508 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. At June 30 , 2016 and December 31 , 2015 , 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 both June 30 , 2016 and December 31 , 2015 . Commercial letters of credit are issued or confirmed to guarantee payment of customers’ payables or receivables in short-term international trade transactions. Generally, drafts will be drawn when the underlying transaction is consummated as intended. However, the short-term nature of this instrument serves to mitigate the risk associated with these contracts. The summary of instruments that are considered financial guarantees in accordance with the authoritative guidance related to guaran tor’s accounting and disclosure requirements for guarantees, including indirect guarantees of indebtedness of others, at June 30 , 2016 and December 31 , 2015 , is as follows: June 30, December 31, 2016 2015 (In thousands) Standby letters of credit and financial guarantees $ 4,756 $ 14,656 Loans sold with recourse 21,064 22,374 S tandby letters of credit and financial guarantees are written conditional commitments issued by the Company to guarantee the payment and/or performance of a customer to a third party (“beneficiary”). If the customer fails to comply with the agreement, the beneficiary may draw on the standby letter of credit or financial guarantee as a remedy. The amount of credit risk involved in issuing letters of credit in the event of nonperformance is the face amount of the letter of credit or financial guarantee. These guarantees are primarily issued to support public and private borrowing arrangements, including commercial paper, bond financing, and similar transactions. The amount of collateral obtained, if it is deemed necessary by the Company upon extension of credit, is based on management’s credit evaluation of the customer . Lease Commitments The Company has entered into various operating lease agreements for branch facilities and administrative offices. Rent expense for the quarters ended June 30 , 2016 and 2015 , amounted to $ 2.3 million for both periods . For the six-month periods ended June 30 , 2016 and 2015 , rent expense amounted to $ 4.4 million and $ 4.7 million, respectively, and is included in the “occupancy and equipment” caption in the unaudited consolidated statements of operations . Future rental commitments under leases in effect at June 30 , 2016 exclusive of taxes, insurance, and maintenance expenses payable by the Company, are summarized as follows: Minimum Rent Year Ending December 31, (In thousands) 2016 $ 4,732 2017 6,850 2018 6,428 2019 6,387 2020 5,660 Thereafter 12,500 $ 42,557 |
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 Bank (and its subsidiary OIB), Oriental Financial Services, and Oriental Insurance, are subject to regulation by various U.S., Puerto Rico and other regulators. The Company seeks to resolve all litigation and regulatory matters in the manner management believes is in the best interests of the Company and its shareholders, and contests allegations of liability or wrongdoing and, where applicable, the amount of damages or scope of any penalties or other relief sought as appropriate in each pending matter. Subject to the accounting and disclosure framework under the provisions of ASC 450, it is the opinion of the Company’s management, based on current knowledge and after taking into account its current legal accruals, that the eventual outcome of all matters would not be likely to have a material adverse effect on the consolidated statements of financial condition of the Company. Nonetheless, given the substantial or indeterminate amounts sought in certain of these matters, and the inherent unpredictability of such matters, an adverse outcome in certain of these matters could, from time to time, have a material adverse effect on the Company’s consolidated results of operations or cash flows in particular quarterly or annual periods. The Company has evaluated all litigation and regulatory matters where the likelihood of a potential loss is deemed reasonably possible. The Company has determined that the estimate of the reasonably possible loss is not significant . |
Fair Value
Fair Value | 6 Months Ended |
Jun. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value | NOTE 20 - FAIR VALUE OF FINANCIAL INSTRUMENTS The Company follows the fair value measurement framework under GAAP. Fair Value Measurement The fair value measurement framework defines fair value as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. This framework also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Money market investments The fair value of money market investments is based on the carrying amounts reflected in the unaudited consol idated 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 ma rket prices provided by Interactive Data Corporation (“IDC”), an independent, well-recognized pricing company. Such securities are classified as Level 1 or Level 2 depending on the basis for determining fair value. If listed prices or quotes are not availa ble, fair value is based upon externally developed models that use both observable and unobservable inputs depending on the market activity of the instrument, and such securities are classified as Level 3. At June 30 , 2016 and December 31 , 2015 , the C ompany did not have investment securities classified as 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 fo r the industry sector and the credit rating of the counterparty and/or the Company. Certain other derivative instruments with limited market activity are valued using externally developed models that consider unobservable market parameters. Based on their valuation methodology, derivative instruments are classified as Level 2 or Level 3. The Company has offered its customers certificates of deposit with an option tied to the performance of the S&P Index and uses equity indexed option agreements with major broker-dealers to manage its exposure to changes in this index. Their fair value is obtained through the use of an external based valuation that was thoroughly evaluated and adopted by management as its measurement tool for these options. The payoff of the se 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 v alue of the S&P Index during the remaining life of the option and the strike price at inception. The assumptions, which are uncertain and require a degree of judgment, include primarily S&P Index volatility, forward interest rate projections, estimated ind ex 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 c haracteristics, prepayment assumptions, delinquency rates, late charges, other ancillary revenues, cost to service and other economic factors. Due to the unobservable nature of certain valuation inputs, the servicing rights are classified as Level 3. 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 flow s are based on internal inputs reflecting expected default rates on contractual cash flows. This method of estimating fair value does not incorporate the exit-price concept of fair value described in Accounting Standards Codification (“ASC”) 820-10 and wou ld generally result in a higher value than the exit-price approach. For loans measured using the estimated fair value of collateral less costs to sell, fair value is generally determined based on the fair value of the collateral, which is derived from appr aisals that take into consideration prices in observed transactions involving similar assets in similar locations, in accordance with 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 commercial loans. The fair value of foreclosed real estate may be determined using an external appraisal, broker price option or an internal valuation. These foreclosed assets are classified as Level 3 given certain internal adjustments that may be made to external appraisals. Other repossessed assets Other repossessed assets include repossessed automobiles . The 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: June 30, 2016 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ - $ 664,302 $ - $ 664,302 Trading securities - 348 - 348 Money market investments 5,740 - - 5,740 Derivative assets - 1,739 187 1,926 Servicing assets - - 7,932 7,932 Derivative liabilities - (5,413) (181) (5,594) $ 5,740 $ 660,976 $ 7,938 $ 674,654 Non-recurring fair value measurements: Impaired commercial loans $ - $ - $ 219,393 $ 219,393 Foreclosed real estate - - 51,220 51,220 Other repossessed assets - - 3,866 3,866 $ - $ - $ 274,479 $ 274,479 December 31, 2015 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ - $ 974,609 $ - $ 974,609 Trading securities - 288 - 288 Money market investments 4,699 - - 4,699 Derivative assets - 1,855 1,170 3,025 Servicing assets - - 7,455 7,455 Derivative liabilities - (6,162) (1,095) (7,257) $ 4,699 $ 970,590 $ 7,530 $ 982,819 Non-recurring fair value measurements: Impaired commercial loans $ - $ - $ 235,767 $ 235,767 Foreclosed real estate - - 58,176 58,176 Other repossessed assets - - 6,226 6,226 $ - $ - $ 300,169 $ 300,169 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 six-month periods ended June 30 , 2016 and 2015 : Quarter Ended June 30, 2016 Derivative Derivative asset liability (S&P (S&P Purchased Servicing Embedded Level 3 Instruments Only Options) assets Options) Total Balance at beginning of period $ 772 $ 7,819 $ (746) $ 7,845 Gains (losses) included in earnings (585) - 557 (28) New instruments acquired - 717 - 717 Principal repayments - (121) - (121) Amortization - - 8 8 Changes in fair value of servicing assets - (483) - (483) Balance at end of period $ 187 $ 7,932 $ (181) $ 7,938 Six-Month Period Ended June 30, 2016 Derivative Derivative asset liability (S&P (S&P Purchased Servicing Embedded Level 3 Instruments Only Options) assets Options) Total Balance at beginning of period $ 1,171 $ 7,455 $ (1,095) $ 7,531 Gains (losses) included in earnings (984) - 886 (98) New instruments acquired - 1,275 - 1,275 Principal repayments - (225) - (225) Amortization - - 28 28 Changes in fair value of servicing assets - (573) - (573) Balance at end of period $ 187 $ 7,932 $ (181) $ 7,938 Quarter Ended June 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 $ 3,734 $ 12,164 $ (3,617) $ 12,281 (Losses) included in earnings (1,596) - 1,517 (79) Sale of mortgage servicing rights held-for-sale - (6,985) - (6,985) Changes due to payments on loans - (313) - (313) New instruments acquired - 1,529 - 1,529 Changes in fair value related to price of MSRs held for sale - (835) - (835) Amortization - - 56 56 Changes in fair value of servicing assets - 231 - 231 Balance at end of period $ 2,138 $ 5,791 $ (2,044) $ 5,885 D uring the quarters and six-month periods ended June 30 , 2016 and 2015 , there were purchases and sales of assets and liabilities measured at fair value on a recurring basis. There were no transfers into or 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 June 30 , 2016 : June 30, 2016 Fair Value Valuation Technique Unobservable Input Range (In thousands) Derivative assets (S&P Purchased Options) $ 187 Option pricing model Implied option volatility 41.87% Counterparty credit risk (based on 5-year credit default swap ("CDS") spread) 79.96%-89.03% Servicing assets $ 7,932 Cash flow valuation Constant prepayment rate 4.41% - 11.40% Discount rate 10.00% - 12.00% Derivative liability (S&P Embedded Options) $ (181) Option pricing model Implied option volatility 41.87% Counterparty credit risk (based on 5-year CDS spread) 79.96%-89.03% Collateral dependant impaired loans $ 28,558 Fair value of property or collateral Appraised value less disposition costs 29.20% - 43.20% Puerto Rico Electric Power Authority line of credit, net $ 183,020 Cash flow valuation Discount rate 7.25% Other non-collateral dependant impaired loans $ 7,814 Cash flow valuation Discount rate 4.25%-10.50% Foreclosed real estate $ 51,220 Fair value of property or collateral Appraised value less disposition costs 29.20% - 43.20% Other repossessed assets $ 3,866 Fair value of property or collateral Appraised value less disposition costs 29.20% - 43.20% 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. Mort gage 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 chang es 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 Embedd ed 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 inpu ts 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 fo r 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 June 30 , 2016 and December 31 , 2015 is as follows: June 30, December 31, 2016 2015 Fair Carrying Fair Carrying Value Value Value Value (In thousands) Level 1 Financial Assets: Cash and cash equivalents $ 517,048 $ 517,048 $ 536,709 $ 536,709 Restricted cash 3,030 3,030 3,349 3,349 Level 2 Financial Assets: Trading securities 348 348 288 288 Investment securities available-for-sale 664,302 664,302 974,609 974,609 Investment securities held-to-maturity 643,530 635,399 614,679 620,189 Federal Home Loan Bank (FHLB) stock 19,838 19,838 20,783 20,783 Other investments 3 3 3 3 Derivative assets 1,739 1,739 1,855 1,855 Financial Liabilities: Derivative liabilities 5,413 5,413 6,162 6,162 Level 3 Financial Assets: Total loans (including loans held-for-sale) 4,163,769 4,373,617 4,101,219 4,434,213 Derivative assets 187 187 1,170 1,170 FDIC indemnification asset 11,064 18,426 17,786 22,599 Accrued interest receivable 20,009 20,009 20,637 20,637 Servicing assets 7,932 7,932 7,455 7,455 Accounts receivable and other assets 42,243 42,243 42,786 42,786 Financial Liabilities: Deposits 4,633,864 4,643,873 4,705,878 4,715,764 Securities sold under agreements to repurchase 630,933 626,109 955,859 934,691 Advances from FHLB 308,583 306,480 335,812 332,476 Other borrowings 2,599 1,753 2,593 1,734 Subordinated capital notes 98,944 102,983 94,940 102,633 Accrued expenses and other liabilities 88,930 88,930 92,935 92,935 Derivative liabilities embedded in deposits 181 181 1,095 1,095 The following methods and assumptions were used to estimate the fair values of signi ficant financial instruments at June 30 , 2016 and December 31 , 2015 : • Cash and cash equivalents (including money market investments and time deposits with other banks ), restricted cash, accrued interest receivable, accounts receivable and other assets and accrued expenses and other liabilities have been valued at the ca rrying amounts reflected in the consolidated statements of financial condition as these are reas onable 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 o n quoted market prices, when available or prices provided from contracted pricing providers , 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 instrument . • 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 futur e losses on covered assets based on the credit assumptions on estimated cash flows for each covered asset and the loss sharing percentages. The ultimate collect ability of the FDIC indemnification asset is dependent upon the performance of the underlyi ng covered loans, the passage of time and claims paid by the FDIC which are impacted by the Bank’s adherence to certain guidelines established by the FDIC. • The fair value of 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 fact ors, which are determined based on current market conditions. • The fair values of the derivative instruments are provided by valuation experts and counterparties. Certain derivatives with limited market activity are valued using externally developed mode ls that consider unobservable mar ket parameters. The Company has offered its customers certificates of deposit with an option tied to the performance of the S&P Index, and uses equity indexed option agreements with major broker-dealer s to manage its exposu re to changes in this index. Their fair value is obtained through the use of an external based valuation that was thoroughly evaluated and adopted by management as its measurement tool for these options. The payoff of these options is linked to the average value of the S&P Index on a specific set of dates during the life of the option. The methodology uses an average rate option or a cash-settled option whose payoff is based on the difference between the expected average value of the S&P Index during the re maining life of the option and the strike price at inception. The assumptions, which are uncertain and require a degree of judgment, include primarily S&P Index volatility, forward interest rate projections, estimated index dividend payout, and leverage. • Fair value of derivative liabilities, which include interest rate swaps and forward-settlement swaps, are based on the net discounted value of the contractual projected cash flows of both the pay-fixed receive-variable legs of the contracts. The projecte d 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, aut o and leasing. Each loan segment is further segmented into fixed and adjustable interest rates and by performing and non-performing categories. The fair value of performing loans is calculated by discounting contractual cash flows, adjusted for prepayment estimates (voluntary and involuntary), if any, using estimated current market discount rates that reflect the credit and interest rate risk inherent in the loan. This fair value is not currently an indication of an exit price as that type of assumption cou ld 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 c ertificates 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, remaini ng maturities and put dates . |
Business Segment
Business Segment | 6 Months Ended |
Jun. 30, 2016 | |
Segment Reporting [Abstract] | |
Segment Reporting | NOTE 21 – 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 six-month periods ended June 30 , 2016 and 2015 : Quarter Ended June 30, 2016 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 79,675 $ 16 $ 8,217 $ 87,908 $ - $ 87,908 Interest expense (7,300) - (7,296) (14,596) - (14,596) Net interest income 72,375 16 921 73,312 - 73,312 Provision for loan and lease losses (14,445) - - (14,445) - (14,445) Non-interest income 8,214 6,910 31 15,155 - 15,155 Non-interest expenses (47,098) (4,908) (1,820) (53,826) - (53,825) Intersegment revenue 389 - 49 438 (438) - Intersegment expenses (49) (286) (103) (438) 438 - Income before income taxes $ 19,386 $ 1,732 $ (922) $ 20,196 $ - $ 20,197 Total assets $ 5,829,987 $ 19,054 $ 1,800,838 $ 7,649,879 $ (937,283) $ 6,712,596 Quarter Ended June 30, 2015 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 90,504 $ 24 $ 8,885 $ 99,413 $ - $ 99,413 Interest expense (7,110) - (10,011) (17,121) - (17,121) Net interest income 83,394 24 (1,126) 82,292 - 82,292 Provision for loan and lease losses (15,539) - - (15,539) - (15,539) Non-interest (loss) income (11,713) 6,893 164 (4,656) - (4,656) Non-interest expenses (56,844) (6,733) (860) (64,437) - (64,437) Intersegment revenue 163 - 61 224 (224) - Intersegment expenses (61) (87) (76) (224) 224 - (Loss) income before income taxes $ (600) $ 97 $ (1,837) $ (2,340) $ - $ (2,340) Total assets $ 6,153,663 $ 21,157 $ 2,136,293 $ 8,311,113 $ (912,788) $ 7,398,325 Six-Month Period Ended June 30, 2016 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 160,827 $ 34 $ 18,353 $ 179,214 $ - $ 179,214 Interest expense (14,107) - (16,820) (30,927) - (30,927) Net interest income 146,720 34 1,533 148,287 - 148,287 Provision for loan and lease losses (28,234) - - (28,234) - (28,234) Non-interest income (loss) 16,009 12,930 (281) 28,658 - 28,658 Non-interest expenses (97,786) (7,853) (3,043) (108,682) - (108,682) Intersegment revenue 787 - 149 936 (936) - Intersegment expenses (149) (577) (210) (936) 936 - Income (loss) before income taxes $ 37,347 $ 4,534 $ (1,852) $ 40,029 $ - $ 40,029 Six-Month Period Ended June 30, 2015 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 187,986 $ 47 $ 18,381 $ 206,414 $ - $ 206,414 Interest expense (14,564) - (19,923) (34,487) - (34,487) Net interest income 173,422 47 (1,542) 171,927 - 171,927 Provision for loan and lease losses (57,732) - - (57,732) - (57,732) Non-interest income (loss) (13,962) 13,903 2,284 2,225 - 2,225 Non-interest expenses (106,156) (11,524) (3,089) (120,769) - (120,769) Intersegment revenue 707 - 160 866 (866) - Intersegment expenses (159) (518) (189) (866) 866 - (Loss) income before income taxes $ (3,880) $ 1,908 $ (2,376) $ (4,349) $ - $ (4,349) |
Accounting Policies (Policies)
Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2016 | |
Accounting Policies [Abstract] | |
Basis of Presentation | ORGANIZATION, CONSOLIDATION AND BASIS OF PRESENTATION Nature of Operations OFG Bancorp (the “Company”) is a publicly-owned financial holding company incorporated under the laws of the Commonwealth of Puerto Rico. The Company operates through various subsidiaries including, a commercial bank, Oriental Bank (the “Bank”), a securities broker-dealer, Oriental Financial Services Corp. (“Oriental Financial Services”), an insurance agency, Oriental Insurance, LLC (“Oriental Insurance”) and a retireme nt plan administrator, Oriental Pension Consultants, Inc. (“OPC”). Through these subsidiaries and their respective divisions, the Company provides a wide range of banking and financial services such as commercial, consumer and mortgage lending, 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 liabiliti es 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 Bilbao 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 integrated with the Company’s existing business. |
New Accounting Pronouncements Policy [Policy Text Block] | Recent Accounting Developments In June 2016, the Financial Accounting Standards Board (FASB) issued new accounting guidance that will require the earlier recognition of credit losses on loans and other financial instruments based on an expected loss model, replacing the incurred loss model that is currently in use. Under the new guidance, an entity will measure all expected credit losses for financial instruments held at the reporting date based on historical expe rience, current conditions and reasonable and supportable forecasts. The expected loss model will apply to loans and leases, unfunded lending commitments, held-to-maturity (HTM) debt securities and other debt instruments measured at amortized cost. The imp airment model for available-for-sale (AFS) debt securities will require the recognition of credit losses through a valuation allowance when fair value is less than amortized cost, regardless of whether the impairment is considered to be other-than-temporar y. The new guidance is effective on January 1, 2020, with early adoption permitted on January 1, 2019. The Company is in the process of evaluating the impact of the provisions of this new accounting guidance . In March 2016, the FASB issued new accounting guidance that simplifies certain aspects of the accounting for share-based payment transactions, including income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The new guidanc e is effective on January 1, 2017, with early adoption permitted. The Company does not expect the provisions of this new accounting guidance to have a material impact on its consolidated financial position or results of operations. In February 2016, the F ASB issued new accounting guidance that requires substantially all leases to be recorded as assets and liabilities on the balance sheet. This new accounting guidance is effective on January 1, 2019, with early adoption permitted. Upon adoption, the Company will record a right of use asset and a lease payment obligation associated with arrangements previously accounted for as operating leases. The Company is in the process of evaluating the impact of the provisions of this new accounting guidance on its cons olidated financial position, but does not expect the new accounting guidance to have a material impact on its consolidated financial position or results of operations. In January 2016, the FASB issued new accounting guidance on recognition and measurement of financial instruments. The new guidance makes targeted changes to existing GAAP including, among other provisions, requiring certain equity investments to be measure d at fair value with changes in fair value reported in earnings and requiring changes in instrument-specific credit risk. The new guidance is effective on January 1, 2018. The Company does not expect the provisions of this new accounting guidance to have a material impact on its consolidated financial position or results of operations. In May 2014, the FASB issued new accounting guidance to clarify the principles for recognizing revenue from contracts with customers. This new accounting guidance is effecti ve on January 1, 2018. The Company does not expect the provisions of this new accounting guidance to have a material impact on its consolidated financial position or results of operations . |
Restricted Cash (Tables)
Restricted Cash (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Restricted Cash And Investments Abstract | |
Restricted Cash Components and Its Secured Investments | The following table includes the composition of the Company’s restricted cash June 30, December 31, 2016 2015 (In thousands) Cash pledged as collateral to other financial institutions to secure: Derivatives $ 1,980 $ 1,980 Obligations under agreement of loans sold with recourse 1,050 1,369 $ 3,030 $ 3,349 |
Investments Securities (Tables)
Investments Securities (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
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 June 30 , 2016 and December 31 , 2015 were as follows: June 30, 2016 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 $ 402,557 $ 14,414 $ - $ 416,971 2.61% GNMA certificates 109,214 5,064 - 114,278 3.06% CMOs issued by US government-sponsored agencies 120,238 416 179 120,475 1.87% Total mortgage-backed securities 632,009 19,894 179 651,724 2.55% Investment securities Obligations of US government-sponsored agencies 4,468 34 - 4,502 1.37% Obligations of Puerto Rico government and public instrumentalities 6,720 - 872 5,848 5.55% Other debt securities 2,101 127 - 2,228 2.94% Total investment securities 13,289 161 872 12,578 3.73% Total securities available for sale $ 645,298 $ 20,055 $ 1,051 $ 664,302 2.57% Held-to-maturity Mortgage-backed securities FNMA and FHLMC certificates $ 610,384 8,121 - 618,505 2.20% Investment securities US Treasury securities 25,015 10 - 25,025 0.49% Total securities held to maturity 635,399 8,131 - 643,530 2.13% Total $ 1,280,697 $ 28,186 $ 1,051 $ 1,307,832 2.36% December 31, 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 $ 735,363 $ 25,791 $ 1,509 $ 759,645 2.97% GNMA certificates 57,129 1,366 - 58,495 3.19% CMOs issued by US government-sponsored agencies 137,787 27 2,741 135,073 1.85% Total mortgage-backed securities 930,279 27,184 4,250 953,213 2.82% Investment securities Obligations of US government-sponsored agencies 5,122 - 29 5,093 1.36% Obligations of Puerto Rico government and public instrumentalities 17,801 - 4,070 13,731 6.24% Other debt securities 2,444 128 - 2,572 2.98% Total investment securities 25,367 128 4,099 21,396 4.94% Total securities available-for-sale $ 955,646 $ 27,312 $ 8,349 $ 974,609 2.87% Held-to-maturity Mortgage-backed securities FNMA and FHLMC certificates 595,157 426 5,865 589,718 2.24% Investment securities US Treasury securities 25,032 - 71 24,961 0.49% Total securities held to maturity 620,189 426 5,936 614,679 2.17% Total $ 1,575,835 $ 27,738 $ 14,285 $ 1,589,288 2.60% The amortized cost and fair value of the Company’s investment securities at June 30 , 2016 , by contractual maturity, are shown in the next table. June 30, 2016 Available-for-sale Held-to-maturity Amortized Cost Fair Value Amortized Cost Fair Value (In thousands) (In thousands) Mortgage-backed securities Due from 5 to 10 years FNMA and FHLMC certificates $ 12,650 $ 12,996 $ - $ - Total due from 5 to 10 years 12,650 12,996 - - Due after 10 years FNMA and FHLMC certificates 389,907 403,975 610,384 618,505 GNMA certificates 109,214 114,278 - - CMOs issued by US government-sponsored agencies 120,238 120,475 - - Total due after 10 years 619,359 638,728 610,384 618,505 Total mortgage-backed securities 632,009 651,724 610,384 618,505 Investment securities Due from 1 to 5 years US Treasury securities - - 25,015 25,025 Obligations of Puerto Rico government and public instrumentalities 6,720 5,848 - - Total due from 1 to 5 years 6,720 5,848 25,015 25,025 Due from 5 to 10 years Obligations of US government and sponsored agencies 4,468 4,502 - - Other debt securities 2,101 2,228 - - Total due from 5 to 10 years 6,569 6,730 - - Total investment securities 13,289 12,578 25,015 25,025 Total securities available-for-sale and held-to-maturity $ 645,298 $ 664,302 $ 635,399 $ 643,530 |
Realized Gain Loss On Investments Table Text Block | Six-Month Period Ended June 30, 2016 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 $ 293,505 $ 277,181 $ 16,324 $ - Investment securities Obligations of Puerto Rico government and public instrumentalities 6,978 11,095 - 4,117 Total $ 300,483 $ 288,276 $ 16,324 $ 4,117 Six-Month Period Ended June 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 $ 37,735 $ 2,571 $ - GNMA certificates 63,524 63,523 1 - Total $ 103,831 $ 101,258 $ 2,572 $ - |
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 June 30, 2016 12 months or more Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies $ 54,449 $ 179 $ 54,270 Obligations of Puerto Rico government and public instrumentalities 6,720 872 5,848 $ 61,169 $ 1,051 $ 60,118 December 31, 2015 12 months or more Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale Obligations of Puerto Rico Government and public instrumentalities $ 17,801 $ 4,070 $ 13,731 CMOs issued by US government-sponsored agencies 103,340 2,410 100,930 $ 121,141 $ 6,480 $ 114,661 Less than 12 months Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies 25,736 331 25,405 FNMA and FHLMC certificates 149,480 1,509 147,971 Obligations of US government and sponsored agencies 5,122 29 5,093 Securities held to maturity FNMA and FHLMC certificates 468,487 5,865 462,622 US Treausury Securities 25,032 71 24,961 $ 673,857 $ 7,805 $ 666,052 Total Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies 129,076 2,741 126,335 FNMA and FHLMC certificates 149,480 1,509 147,971 Obligations of Puerto Rico Government and public instrumentalities 17,801 4,070 13,731 Obligations of US government and sponsored agencies 5,122 29 5,093 $ 301,479 $ 8,349 $ 293,130 Securities held to maturity FNMA and FHLMC certificates 468,487 5,865 462,622 US Treasury Securities 25,032 71 24,961 $ 794,998 $ 14,285 $ 780,713 |
Other Than Temporary Impairment Credit Losses Recognized In Earnings | Six-Month Period Ended June 30, 2016 2015 Balance at beginning of period $ 1,490 $ - Reductions for securities sold during the period (realized) (1,490) - Balance at end of period $ - $ - |
Loans Receivable (Tables)
Loans Receivable (Tables) | 6 Months Ended | |
Jun. 30, 2016 | ||
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 June 30 , 2016 and December 31 , 2015 was as follows : June 30, December 31, 2016 2015 (In thousands) Originated and other loans and leases held for investment: Mortgage $ 741,917 $ 757,828 Commercial 1,476,613 1,441,649 Consumer 265,269 242,950 Auto and leasing 712,268 669,163 3,196,067 3,111,590 Allowance for loan and lease losses on originated and other loans and leases (112,812) (112,626) 3,083,255 2,998,964 Deferred loan costs, net 4,619 4,203 Total originated and other loans loans held for investment, net 3,087,874 3,003,167 Acquired loans: Acquired BBVAPR loans: Accounted for under ASC 310-20 (Loans with revolving feature and/or acquired at a premium) Commercial 4,559 7,457 Consumer 35,194 38,385 Auto 77,118 106,911 116,871 152,753 Allowance for loan and lease losses on acquired BBVAPR loans accounted for under ASC 310-20 (4,487) (5,542) 112,384 147,211 Accounted for under ASC 310-30 (Loans acquired with deteriorated credit quality, including those by analogy) (a) Mortgage 591,029 608,294 Commercial 246,188 287,311 Construction 76,917 88,180 Consumer 7,331 11,843 Auto 117,038 153,592 1,038,503 1,149,220 Allowance for loan and lease losses on acquired BBVAPR loans accounted for under ASC 310-30 (b) (22,801) (25,785) 1,015,702 1,123,435 Total acquired BBVAPR loans, net 1,128,086 1,270,646 Acquired Eurobank loans: (a) Loans secured by 1-4 family residential properties 76,777 92,273 Commercial and construction 83,377 142,377 Consumer 1,410 2,314 Total acquired Eurobank loans 161,564 236,964 Allowance for loan and lease losses on Eurobank loans (b) (22,116) (90,178) Total acquired Eurobank loans, net 139,448 146,786 Total acquired loans, net 1,267,534 1,417,432 Total held for investment, net 4,355,408 4,420,599 Mortgage loans held-for-sale 18,209 13,614 Total loans, net $ 4,373,617 $ 4,434,213 (a) Current period amounts have been re-measured using the revised derecognition policy for purchased credit impaired loans. (b) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was derecognized on June 30, 2016 due to the revision in the derecognition policy for these loans. | [1],[2] |
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 June 30 , 2016 and December 31 , 2015 by class of loans . Mortgage loans past due include delinquent loans in the GNMA buy-back option program. Servicers of l oans underlying GNMA mortgage-backed securities must report as their own assets the defaulted loans that they have the option (but not the obligation) to repurchase, even when they elect not to exercise that option June 30, 2016 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 $ 260 $ 2,024 $ 2,973 $ 5,257 $ - $ 48,801 $ 54,058 $ 227 Years 2003 and 2004 343 3,936 6,201 10,480 65 84,208 94,753 - Year 2005 - 1,878 3,826 5,704 64 46,293 52,061 - Year 2006 743 2,243 6,741 9,727 50 64,109 73,886 - Years 2007, 2008 and 2009 854 1,414 11,793 14,061 - 69,957 84,018 699 Years 2010, 2011, 2012, 2013 498 1,307 9,420 11,225 142 133,384 144,751 416 Years 2014, 2015 and 2016 - 189 901 1,090 62 98,209 99,361 - 2,698 12,991 41,855 57,544 383 544,961 602,888 1,342 Non-traditional - 938 5,217 6,155 12 20,028 26,195 - Loss mitigation program 9,898 6,574 15,738 32,210 3,857 68,014 104,081 3,770 12,596 20,503 62,810 95,909 4,252 633,003 733,164 5,112 Home equity secured personal loans - - - - - 384 384 - GNMA's buy-back option program - - 8,369 8,369 - - 8,369 - Total mortgage 12,596 20,503 71,179 104,278 4,252 633,387 741,917 5,112 Commercial Commercial secured by real estate: Corporate - - - - - 230,296 230,296 - Institutional - - - - - 27,838 27,838 - Middle market - 125 8,589 8,714 2,255 209,127 220,096 - Retail 96 1,226 5,871 7,193 3,327 236,171 246,691 - Floor plan - - - - - 2,826 2,826 - Real estate - - - - - 16,079 16,079 - 96 1,351 14,460 15,907 5,582 722,337 743,826 - Other commercial and industrial: Corporate - - - - - 140,192 140,192 - Institutional - - - - 183,020 193,258 376,278 - Middle market 2,007 - - 2,007 1,421 102,112 105,540 - Retail 896 529 582 2,007 135 74,823 76,965 - Floor plan 6 38 40 84 - 33,728 33,812 - 2,909 567 622 4,098 184,576 544,113 732,787 - Total commercial 3,005 1,918 15,082 20,005 190,158 1,266,450 1,476,613 - June 30, 2016 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 459 177 432 1,068 - 23,809 24,877 - Overdrafts 15 1 - 16 - 204 220 - Personal lines of credit 42 14 94 150 - 2,281 2,431 - Personal loans 1,854 1,137 898 3,889 875 216,884 221,648 - Cash collateral personal loans 63 3 1 67 - 16,026 16,093 - Total consumer 2,433 1,332 1,425 5,190 875 259,204 265,269 - Auto and leasing 44,433 19,438 7,322 71,193 15 641,060 712,268 - Total $ 62,467 $ 43,191 $ 95,008 $ 200,666 $ 195,300 $ 2,800,101 $ 3,196,067 $ 5,112 December 31, 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 $ 80 $ 2,217 $ 3,889 $ 6,186 $ 41 $ 51,562 $ 57,789 $ 144 Years 2003 and 2004 251 5,036 5,536 10,823 - 88,623 99,446 - Year 2005 79 2,553 3,549 6,181 - 48,040 54,221 - Year 2006 551 2,878 7,934 11,363 176 66,864 78,403 - Years 2007, 2008 and 2009 170 2,053 14,733 16,956 - 74,590 91,546 526 Years 2010, 2011, 2012, 2013 662 1,673 10,519 12,854 141 137,749 150,744 72 Years 2014 and 2015 - 65 663 728 - 85,128 85,856 - 1,793 16,475 46,823 65,091 358 552,556 618,005 742 Non-traditional - 977 5,079 6,056 13 23,483 29,552 - Loss mitigation program 9,958 6,887 14,930 31,775 5,593 64,548 101,916 3,083 11,751 24,339 66,832 102,922 5,964 640,587 749,473 3,825 Home equity secured personal loans - - 64 64 - 346 410 - GNMA's buy-back option program - - 7,945 7,945 - - 7,945 - Total mortgage 11,751 24,339 74,841 110,931 5,964 640,933 757,828 3,825 Commercial Commercial secured by real estate: Corporate - - - - - 227,557 227,557 - Institutional 213 - - 213 - 33,594 33,807 - Middle market 1,174 712 9,113 10,999 1,730 194,219 206,948 - Retail 686 466 6,921 8,073 1,177 231,840 241,090 - Floor plan - - - - - 2,892 2,892 - Real estate - - - - - 16,662 16,662 - 2,073 1,178 16,034 19,285 2,907 706,764 728,956 - Other commercial and industrial: Corporate - - - - - 108,582 108,582 - Institutional - - - - 190,290 190,695 380,985 - Middle market - - - - 1,565 105,748 107,313 - Retail 282 639 604 1,525 783 75,489 77,797 - Floor plan 238 51 39 328 - 37,688 38,016 - 520 690 643 1,853 192,638 518,202 712,693 - Total commercial 2,593 1,868 16,677 21,138 195,545 1,224,966 1,441,649 - December 31, 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 449 182 369 1,000 - 21,766 22,766 - Overdrafts 24 - - 24 - 166 190 - Personal lines of credit 74 - 45 119 19 2,106 2,244 - Personal loans 2,078 1,179 627 3,884 414 196,858 201,156 - Cash collateral personal loans 125 17 2 144 - 16,450 16,594 - Total consumer 2,750 1,378 1,043 5,171 433 237,346 242,950 - Auto and leasing 53,566 16,898 8,293 78,757 49 590,357 669,163 - Total $ 70,660 $ 44,483 $ 100,854 $ 215,997 $ 201,991 $ 2,693,602 $ 3,111,590 $ 3,825 The following table s present the aging of the recorded investment in gross acquired BBVAPR loans accounted for under ASC 310-20 as of June 30 , 2016 and December 31 , 2015 , by class of loans : June 30, 2016 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 $ - $ - $ 197 $ 197 $ - $ - $ 197 $ - Floor plan - - 446 446 - 2,309 2,755 - - - 643 643 - 2,309 2,952 - Other commercial and industrial Retail 37 17 120 174 - 1,426 1,600 - Floor plan - - 7 7 - - 7 - 37 17 127 181 - 1,426 1,607 - 37 17 770 824 - 3,735 4,559 - Consumer Credit cards 731 290 704 1,725 - 30,573 32,298 - Personal loans 116 14 60 190 - 2,706 2,896 - 847 304 764 1,915 - 33,279 35,194 - Auto 5,088 2,196 562 7,846 - 69,272 77,118 - Total $ 5,972 $ 2,517 $ 2,096 $ 10,585 $ - $ 106,286 $ 116,871 $ - December 31, 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 $ - $ - $ 228 $ 228 $ - $ - $ 228 $ - Floor plan - - 467 467 - 2,422 2,889 - - - 695 695 - 2,422 3,117 - Other commercial and industrial Retail 186 29 178 393 - 3,331 3,724 - Floor plan - - 7 7 - 609 616 - 186 29 185 400 - 3,940 4,340 - 186 29 880 1,095 - 6,362 7,457 - Consumer Credit cards 930 384 489 1,803 - 33,414 35,217 - Personal loans 14 29 46 89 - 3,079 3,168 - 944 413 535 1,892 - 36,493 38,385 - Auto 7,553 2,279 831 10,663 - 96,248 106,911 - Total $ 8,683 $ 2,721 $ 2,246 $ 13,650 $ - $ 139,103 $ 152,753 $ - | |
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 June 30 , 2016 and December 31 , 2015 is as follows: June 30, December 31, 2016 2015 (In thousands) Contractual required payments receivable (a) $ 1,788,121 $ 1,945,098 Less: Non-accretable discount 394,500 434,190 Cash expected to be collected 1,393,621 1,510,908 Less: Accretable yield 355,118 361,688 Carrying amount, gross 1,038,503 1,149,220 Less: allowance for loan and lease losses (b) 22,801 25,785 Carrying amount, net $ 1,015,702 $ 1,123,435 (a) Current period amounts have been re-measured using the revised derecognition policy for purchased credit impaired loans. (b) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was derecognized on June 30, 2016 due to the revision in the derecognition policy for these loans. | |
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 for under ASC 310-30 for the Quarter Ended June 30, 2016 Mortgage Commercial Construction Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 260,557 $ 40,102 $ 17,156 $ 17,587 $ 5,261 $ 340,663 Accretion (8,294) (5,272) (1,307) (3,616) (870) (19,359) Change in expected cash flows - 3,062 (408) 630 (1) 3,283 Transfer from (to) non-accretable discount 31,560 (833) (193) (498) 495 30,531 Balance at end of period $ 283,823 $ 37,059 $ 15,248 $ 14,103 $ 4,885 $ 355,118 Non-Accretable Discount Activity: Balance at beginning of period $ 370,155 $ 10,716 $ 7,432 $ 21,938 $ 18,735 $ 428,976 Change in actual and expected losses (2,442) (967) (206) (315) (15) (3,945) Transfer (to) from accretable yield (31,560) 833 193 498 (495) (30,531) Balance at end of period $ 336,153 $ 10,582 $ 7,419 $ 22,121 $ 18,225 $ 394,500 Six-Month Period Ended June 30, 2016 Mortgage Commercial Construction Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 268,794 $ 45,411 $ 19,615 $ 21,578 $ 6,290 $ 361,688 Accretion (16,601) (11,111) (3,176) (7,827) (1,808) (40,523) Change in expected cash flows - 3,190 (208) 631 (1) 3,612 Transfer from (to) non-accretable discount 31,630 (431) (983) (279) 404 30,341 Balance at end of period $ 283,823 $ 37,059 $ 15,248 $ 14,103 $ 4,885 $ 355,118 Non-Accretable Discount Activity: Balance at beginning of period $ 374,772 $ 11,781 $ 6,764 $ 22,039 $ 18,834 $ 434,190 Change in actual and expected losses (6,989) (1,630) (328) (197) (205) (9,349) Transfer (to) from accretable yield (31,630) 431 983 279 (404) (30,341) Balance at end of period $ 336,153 $ 10,582 $ 7,419 $ 22,121 $ 18,225 $ 394,500 Quarter Ended June 30, 2015 Mortgage Commercial Construction Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 284,612 $ 57,330 $ 19,390 $ 47,097 $ 5,601 $ 414,030 Accretion (8,813) (9,597) (2,143) (6,163) (1,287) (28,003) Change in actual and expected losses - 23,695 9,867 - - 33,562 Transfer from (to) non-accretable discount 81 135 (2,501) (9,403) 4,147 (7,541) Balance at end of period $ 275,880 $ 71,563 $ 24,613 $ 31,531 $ 8,461 $ 412,048 Non-Accretable Discount Activity: Balance at beginning of period $ 392,609 $ 15,826 $ 3,957 $ 14,543 $ 23,576 $ 450,511 Change in actual and expected losses (3,421) (4,921) 536 (256) (73) (8,135) Transfer (to) from accretable yield (81) (135) 2,501 9,403 (4,147) 7,541 Balance at end of period $ 389,107 $ 10,770 $ 6,994 $ 23,690 $ 19,356 $ 449,917 Six-Month Period Ended June 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 (17,800) (20,356) (5,953) (13,151) (2,213) (59,473) Change in actual and expected losses - 23,695 9,867 - - 33,562 Transfer (to) from non-accretable discount (4,684) 7,028 (5,130) (9,316) 4,115 (7,987) Balance at end of period $ 275,880 71,563 24,613 31,531 8,461 412,048 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 (5,416) (5,271) (1,622) (1,841) (547) (14,697) Transfer from (to) accretable yield 4,684 (7,028) 5,130 9,316 (4,115) 7,987 Balance at end of period $ 389,107 $ 10,770 $ 6,994 $ 23,690 $ 19,356 $ 449,917 | |
Eurobank loans carrying amount [Table Text Block] | Acquired Eurobank Loans The carrying amount of acquired Eurobank loans at June 30 , 2016 and December 31 , 2015 is as follows: June 30 December 31 2016 2015 (In thousands) Contractual required payments receivable (a) $ 252,801 $ 342,511 Less: Non-accretable discount 11,555 21,156 Cash expected to be collected 241,246 321,355 Less: Accretable yield 79,682 84,391 Carrying amount, gross 161,564 236,964 Less: Allowance for loan and lease losses (b) 22,116 90,178 Carrying amount, net $ 139,448 $ 146,786 (a) Current period amounts have been re-measured using the revised derecognition policy for purchased credit impaired loans. (b) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was derecognized on June 30, 2016 due to the revision in the derecognition policy for these loans. | |
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 six-months periods ended June 30 , 2016 and 2015 : Quarter Ended June 30, 2016 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 $ 50,787 $ 33,203 $ 2,237 $ - $ - $ 86,227 Accretion (2,263) (4,528) (33) 2 (76) (6,898) Change in expected cash flows (198) 1,619 - (77) 81 1,425 Transfer from (to) non-accretable discount 10 (1,152) - 75 (5) (1,072) Balance at end of year $ 48,336 $ 29,142 $ 2,204 $ - $ - $ 79,682 Non-Accretable Discount Activity: Balance at beginning of period $ 12,703 $ - $ - $ - $ - $ 12,703 Change in actual and expected losses (1,138) (1,152) - 75 (5) (2,220) Transfer from (to) accretable yield (10) 1,152 - (75) 5 1,072 Balance at end of period $ 11,555 $ - $ - $ - $ - $ 11,555 Six-Month Period Ended June 30, 2016 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 $ 51,954 $ 26,970 $ 2,255 $ - $ 3,213 $ 84,392 Accretion (4,529) (8,623) (47) 2 (1,261) (14,458) Change in expected cash flows 786 12,712 (23) (77) (1,947) 11,451 Transfer from (to) non-accretable discount 125 (1,917) 19 75 (5) (1,703) Balance at end of period $ 48,336 $ 29,142 $ 2,204 $ - $ - $ 79,682 Non-Accretable Discount Activity: Balance at beginning of period $ 12,869 $ - $ - $ - $ 8,287 $ 21,156 Change in actual and expected losses (1,189) (1,917) 19 75 (8,292) (11,304) Transfer (to) from accretable yield (125) 1,917 (19) (75) 5 1,703 Balance at end of period $ 11,555 $ - $ - $ - $ - $ 11,555 Quarter Ended June 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 $ 58,332 $ 33,481 $ 20,806 $ 1,665 $ 2,004 $ 116,288 Accretion (3,276) (8,047) (405) (937) (93) (12,758) Transfer from non-accretable discount 750 2,039 (2,052) 375 (1) 1,111 Balance at end of period $ 55,806 $ 27,473 $ 18,349 $ 1,103 $ 1,910 $ 104,641 Non-Accretable Discount Activity: Balance at beginning of period $ 12,557 $ 10,493 $ - $ - $ 9,662 $ 32,712 Change in actual and expected losses (405) (8,454) (2,052) 375 67 (10,469) Transfer to accretable yield (750) (2,039) 2,052 (375) 1 (1,111) Balance at end of period $ 11,402 $ - $ - $ - $ 9,730 $ 21,132 Six-Month Period Ended June 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 (6,794) (17,902) (1,024) (2,329) (213) (28,262) Transfer from (to) non-accretable discount 14,964 7,456 (1,380) 953 1,051 23,044 Balance at end of period $ 55,806 $ 27,473 $ 18,349 $ 1,103 $ 1,910 $ 104,641 Non-Accretable Discount Activity: Balance at beginning of period $ 27,348 $ 24,464 $ - $ - $ 10,598 $ 62,410 Change in actual and expected cash flows (982) (17,008) (1,380) 953 183 (18,234) Transfer (to) from accretable yield (14,964) (7,456) 1,380 (953) (1,051) (23,044) Balance at end of period $ 11,402 $ - $ - $ - $ 9,730 $ 21,132 | |
Financing Receivable Recorded Investment Nonaccrual Status By Class Of Loans [Table Text Block] | Non-accrual Loans The following table presents the recorded investment in loans in non-accrual status by class of loans as of June 30 , 2016 and December 31 , 2015 : June 30, December 31, 2016 2015 (In thousands) Originated and other loans and leases held for investment Mortgage Traditional (by origination year): Up to the year 2002 $ 2,812 $ 3,786 Years 2003 and 2004 6,359 5,737 Year 2005 3,889 3,627 Year 2006 7,135 8,189 Years 2007, 2008 and 2009 11,292 14,625 Years 2010, 2011, 2012, 2013 9,311 10,588 Years 2014, 2015 and 2016 963 663 41,761 47,215 Non-traditional 5,229 5,092 Loss mitigation program 18,769 20,172 65,759 72,479 Home equity loans, secured personal loans - 64 65,759 72,543 Commercial Commercial secured by real estate Middle market 10,969 12,729 Retail 10,352 8,726 21,321 21,455 Other commercial and industrial Institutional 183,020 190,290 Middle market 1,421 1,565 Retail 1,966 1,932 Floor plan 40 39 186,447 193,826 207,768 215,281 Consumer Credit cards 432 369 Personal lines of credit 94 100 Personal loans 1,812 1,146 Cash collateral personal loans 1 16 2,339 1,631 Auto and leasing 7,337 8,418 Total non-accrual originated loans $ 283,203 $ 297,873 June 30, December 31, 2016 2015 (In thousands) Acquired BBVAPR loans accounted for under ASC 310-20 Commercial Commercial secured by real estate Retail $ 197 $ 228 Floor plan 446 467 643 695 Other commercial and industrial Retail 120 178 Floor plan 7 7 127 185 770 880 Consumer Credit cards 704 489 Personal loans 60 46 764 535 Auto 562 831 Total non-accrual acquired BBVAPR loans accounted for under ASC 310-20 2,096 2,246 Total non-accrual loans $ 285,299 $ 300,119 | |
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 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 June 30 , 2016 and December 31 , 2015 are as follows : June 30, 2016 Unpaid Recorded Related Principal Investment Allowance Coverage (In thousands) Impaired loans with specific allowance: Commercial $ 212,876 $ 194,084 $ 56,758 29% Residential impaired and troubled-debt restructuring 99,145 90,948 8,864 10% Impaired loans with no specific allowance: Commercial 30,228 23,876 - 0% Total investment in impaired loans $ 342,249 $ 308,908 $ 65,622 21% December 31, 2015 Unpaid Recorded Related Principal Investment Allowance Coverage (In thousands) Impaired loans with specific allowance: Commercial $ 210,718 $ 199,366 $ 55,947 28% Residential impaired and troubled-debt restructuring 97,424 89,973 9,233 10% Impaired loans with no specific allowance Commercial 42,110 35,928 - 0% Total investment in impaired loans $ 350,252 $ 325,267 $ 65,180 20% 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 June 30 , 2016 and December 31 , 2015 are as follows: June 30, 2016 Unpaid Recorded Related Principal Investment Allowance Coverage (In thousands) Impaired loans with no specific allowance Commercial $ 1,450 $ 1,433 $ - 0% Total investment in impaired loans $ 1,450 $ 1,433 $ - 0% December 31, 2015 Unpaid Recorded Specific Principal Investment Allowance Coverage (In thousands) Impaired loans with no specific allowance Commercial $ 486 $ 474 $ - 0% Total investment in impaired loans $ 486 $ 474 $ - 0% 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 that have recorded impairments and their related allowance for loan and lease losses at June 30 , 2016 and December 31 , 2015 are as follows June 30, 2016 Coverage Unpaid Recorded to Recorded Principal Investment Allowance Investment (In thousands) Impaired loan pools with specific allowance: (a)(b) Mortgage $ 591,029 $ 591,056 $ 1,585 0% Commercial 246,142 173,949 11,884 7% Construction 76,677 56,457 3,979 7% Auto 117,038 117,043 5,353 5% Total investment in impaired loan pools $ 1,030,886 $ 938,505 $ 22,801 2% (a) Current period amounts have been re-measured using the revised derecognition policy for purchased credit impaired loans. (b) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was derecognized on June 30, 2016 due to the revision in the derecognition policy for these loans. December 31 , 2015 Coverage Unpaid Recorded to Recorded Principal Investment Allowance Investment (In thousands) Impaired loan pools with specific allowance: Mortgage $ 608,294 $ 608,294 $ 1,761 0% Commercial 287,311 168,107 15,455 9% Construction 88,180 87,983 5,707 6% Auto 153,592 153,592 2,862 2% Total investment in impaired loan pools $ 1,137,377 $ 1,017,976 $ 25,785 3% 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 June 30 , 2016 and December 31 , 2015 are as follows : June 30, 2016 Coverage Unpaid Recorded to Recorded Principal Investment Allowance Investment (In thousands) Impaired loan pools with specific allowance: (a)(b) Loans secured by 1-4 family residential properties $ 95,755 $ 76,777 $ 11,016 14% Commercial and construction 114,932 83,377 11,096 13% Consumer 1,252 1,410 4 0% Total investment in impaired loan pools $ 211,939 $ 161,564 $ 22,116 14% (a) Current period amounts have been re-measured using the revised derecognition policy for purchased credit impaired loans. (b) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was derecognized on June 30, 2016 due to the revision in the derecognition policy for these loans. December 31, 2015 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 $ 101,444 $ 92,273 $ 22,570 24% Commercial and construction 133,148 142,377 67,365 47% Consumer 6,713 2,314 243 11% Total investment in impaired loan pools $ 241,305 $ 236,964 $ 90,178 38% | |
Impaired Financing Receivables Loans, excluding ASC 310-30 [Table Text Block] | The tables above only present information with respect to acquired Eurobank loans and loan pools accounted for under ASC 310-30 if there is a recorded impairment to such loans or loan pools and a specific allowance for loan losses. The following table presents the interest recognized in commercial and mortgage loans that were individually evaluated for impairment, excluding loans accounted for under ASC 310-30 for the quarters and six-month periods ended June 30 , 2016 and 2015 : Quarter Ended June 30, 2016 2015 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 $ 75 $ 194,759 $ 45 $ 212,414 Residential troubled-debt restructuring 791 91,007 781 89,041 Impaired loans with no specific allowance Commercial 149 29,579 316 30,015 1,015 315,345 1,142 331,470 Acquired loans accounted for under ASC 310-20: Impaired loans with no specific allowance Commercial 15 789 11 1,446 Total interest income from impaired loans $ 1,030 $ 316,134 $ 1,153 $ 332,916 Six-Month Period Ended June 30, 2016 2015 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 $ 150 $ 195,777 $ 90 $ 146,144 Residential troubled-debt restructuring 1,591 90,650 1,563 91,216 Impaired loans with no specific allowance Commercial 298 31,603 631 95,791 Total interest income from impaired loans $ 2,039 $ 318,030 $ 2,284 $ 333,151 Aquired loans accounted for under SC 310-20: Impaired loans with no specific allowance Commercial 30 628 21 1,923 Total interest income from impaired loans $ 2,069 $ 318,658 $ 2,305 $ 335,074 | |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Modifications The follow ing tables present the troubled- debt restructuring s during the Quarter Ended June 30, 2016 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 19 $ 2,670 5.69% 372 $ 2,670 4.54% 494 Commercial 6 668 6.65% 65 668 5.91% 86 Consumer 26 364 12.73% 75 372 10.20% 70 Six-Month Period Ended June 30, 2016 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 52 $ 6,628 5.90% 365 $ 7,525 4.73% 493 Commercial 8 1,323 6.73% 53 1,324 6.31% 61 Consumer 47 556 13.27% 75 603 10.56% 71 Quarter Ended June 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 39 $ 4,455 5.62% 330 $ 4,455 4.21% 330 Commercial 1 29 7.25% 44 29 6.50% 60 Consumer 21 250 14.40% 71 259 13.87% 69 Auto 1 64 12.95% 72 65 12.95% 72 Six-Month Period Ended June 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 97 $ 11,609 4.65% 348 $ 11,594 4.13% 349 Commercial 4 4,533 6.83% 80 4,533 7.00% 141 Consumer 32 396 14.50% 72 440 14.25% 68 Auto 1 64 12.95% 72 65 12.95% 72 The following table presents troubled -debt restructurings for which there was a p ayment default during the twelve -month periods ended June 30 , 2016 and 2015 : Twelve-Month Period Ended June 30, 2016 2015 Number of Contracts Recorded Investment Number of Contracts Recorded Investment (Dollars in thousands) Mortgage 84 $ 9,869 60 $ 6,911 Consumer 7 $ 134 4 $ 72 Auto 1 $ 17 - $ - | |
Financing Receivable Credit Quality Indicators [Table Text Block] | As of June 30 , 2016 and December 31 , 2015 , 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: June 30, 2016 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 $ 230,296 $ 215,312 $ 14,984 $ - $ - $ - Institutional 27,838 26,200 - - - 1,638 Middle market 220,096 188,700 17,697 374 - 13,325 Retail 246,691 222,814 7,468 4,128 - 12,281 Floor plan 2,826 2,826 - - - - Real estate 16,079 16,079 - - - - 743,826 671,931 40,149 4,502 - 27,244 Other commercial and industrial: Corporate 140,192 140,192 - - - - Institutional 376,278 193,258 - - - 183,020 Middle market 105,540 95,946 5,142 181 - 4,271 Retail 76,965 71,933 898 979 - 3,155 Floor plan 33,812 28,046 5,415 81 - 270 732,787 529,375 11,455 1,241 - 190,716 Total 1,476,613 1,201,306 51,604 5,743 - 217,960 Commercial - acquired loans (under ASC 310-20) Commercial secured by real estate: Retail 197 - - 197 - - Floor plan 2,755 953 376 - - 1,426 2,952 953 376 197 - 1,426 Other commercial and industrial: Retail 1,600 1,527 - 73 - - Floor plan 7 - - - - 7 1,607 1,527 - 73 - 7 Total 4,559 2,480 376 270 - 1,433 Total $ 1,481,172 $ 1,203,786 $ 51,980 $ 6,013 $ - $ 219,393 December 31, 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 $ 227,557 $ 212,410 $ 15,147 $ - $ - $ - Institutional 33,807 25,907 - - - 7,900 Middle market 206,948 181,916 9,697 - - 15,335 Retail 241,090 217,836 7,936 5,097 - 10,221 Floor plan 2,892 2,892 - - - - Real estate 16,662 16,662 - - - - 728,956 657,623 32,780 5,097 - 33,456 Other commercial and industrial: Corporate 108,582 100,826 - - - 7,756 Institutional 380,985 190,695 - - - 190,290 Middle market 107,313 97,288 8,052 - - 1,973 Retail 77,797 73,757 1,076 1,184 - 1,780 Floor plan 38,016 35,862 2,115 - - 39 712,693 498,428 11,243 1,184 - 201,838 Total 1,441,649 1,156,051 44,023 6,281 - 235,294 Commercial - acquired loans (under ASC 310-20) Commercial secured by real estate: Retail 228 - - 228 - - Floor plan 2,889 602 1,820 - - 467 3,117 602 1,820 228 - 467 Other commercial and industrial: Retail 3,724 3,637 - 87 - - Floor plan 616 609 - - - 7 4,340 4,246 - 87 - 7 Total 7,457 4,848 1,820 315 - 474 Total $ 1,449,106 $ 1,160,899 $ 45,843 $ 6,596 $ - $ 235,768 For residential and consumer loan classes, the Company evaluates credit quality based on the delinquency status of the loan . As of June 30 , 2016 and December 31 , 2015 , and based on the most recent analysis performed, the risk category of gross originated 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: June 30, 2016 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 $ 54,058 $ 48,163 $ 259 $ 2,023 $ 527 $ 1,153 $ 1,292 $ 641 Years 2003 and 2004 94,753 82,651 343 3,936 1,864 1,859 2,312 1,788 Year 2005 52,061 45,538 - 1,878 497 918 2,410 820 Year 2006 73,886 60,860 511 2,244 554 1,603 4,584 3,530 Years 2007, 2008 and 2009 84,018 66,997 703 1,286 569 1,724 8,898 3,841 Years 2010, 2011, 2012 2013 144,751 132,451 407 1,203 182 1,581 5,132 3,795 Years 2014, 2015 and 2016 99,361 98,270 - 189 140 398 364 - 602,888 534,930 2,223 12,759 4,333 9,236 24,992 14,415 Non-traditional 26,195 20,040 - 938 564 1,999 2,654 - Loss mitigation program 104,081 18,865 1,692 1,381 940 1,306 3,364 76,533 733,164 573,835 3,915 15,078 5,837 12,541 31,010 90,948 Home equity secured personal loans 384 384 - - - - - - GNMA's buy-back option program 8,369 - - - 1,498 3,228 3,643 - 741,917 574,219 3,915 15,078 7,335 15,769 34,653 90,948 Consumer Credit cards 24,877 23,809 459 177 214 218 - - Overdrafts 220 204 15 1 - - - - Unsecured personal lines of credit 2,431 2,281 42 14 11 83 - - Unsecured personal loans 221,648 217,759 1,854 1,137 898 - - - Cash collateral personal loans 16,093 16,026 63 3 - 1 - - 265,269 260,079 2,433 1,332 1,123 302 - - Auto and Leasing 712,268 641,075 44,433 19,438 5,492 1,830 - - 1,719,454 1,475,373 50,781 35,848 13,950 17,901 34,653 90,948 Acquired loans (accounted for under ASC 310-20) Consumer Credit cards 32,298 30,573 731 290 290 414 - - Personal loans 2,896 2,707 116 14 26 33 - - 35,194 33,280 847 304 316 447 - - Auto 77,118 69,272 5,088 2,196 412 150 - - 112,312 102,552 5,935 2,500 728 597 - - Total $ 1,831,766 $ 1,577,925 $ 56,716 $ 38,348 $ 14,678 $ 18,498 $ 34,653 $ 90,948 December 31, 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 $ 57,789 $ 50,912 $ 82 $ 2,218 $ 530 $ 1,504 $ 1,858 $ 685 Years 2003 and 2004 99,446 87,060 251 4,867 1,261 1,353 2,921 1,733 Year 2005 54,221 47,197 79 2,553 292 1,068 2,189 843 Year 2006 78,403 63,659 318 2,878 1,168 1,895 4,871 3,614 Years 2007, 2008 and 2009 91,546 71,439 170 1,665 685 2,972 10,725 3,890 Years 2010, 2011, 2012 2013 150,744 134,945 569 1,611 434 1,982 6,737 4,466 Year 2014 and 2015 85,856 85,128 - 65 148 281 234 - 618,005 540,340 1,469 15,857 4,518 11,055 29,535 15,231 Non-traditional 29,552 23,497 - 977 552 2,621 1,905 - Loss mitigation program 101,916 16,031 4,173 1,977 727 1,728 2,538 74,742 749,473 579,868 5,642 18,811 5,797 15,404 33,978 89,973 Home equity secured personal loans 410 346 - - - 64 - - GNMA's buy-back option program 7,945 - - - 1,593 3,578 2,774 - 757,828 580,214 5,642 18,811 7,390 19,046 36,752 89,973 Consumer Credit cards 22,766 21,766 449 182 179 190 - - Overdrafts 190 166 24 - - - - - Unsecured personal lines of credit 2,244 2,125 74 - 17 28 - - Unsecured personal loans 201,156 197,339 2,083 1,107 621 6 - - Cash collateral personal loans 16,594 16,450 125 17 2 - - - 242,950 237,846 2,755 1,306 819 224 - - Auto and Leasing 669,163 590,482 53,549 16,839 5,708 2,585 - - 1,669,941 1,408,542 61,946 36,956 13,917 21,855 36,752 89,973 Acquired loans (accounted for under ASC 310-20) Consumer Credit cards 35,217 33,414 930 384 186 303 - - Personal loans 3,168 3,079 14 29 1 45 - - 38,385 36,493 944 413 187 348 - - Auto 106,911 96,247 7,553 2,279 623 209 - - 145,296 132,740 8,497 2,692 810 557 - - Total $ 1,815,237 $ 1,541,282 $ 70,443 $ 39,648 $ 14,727 $ 22,412 $ 36,752 $ 89,973 | |
[1] | (a) Current period amounts have been re-measured using the revised derecognition policy for purchased credit impaired loans. | |
[2] | (b) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was derecognized on June 30, 2016 due to the revision in the derecognition policy for these loans. |
Allowance for Loan and Lease 33
Allowance for Loan and Lease Losses (Tables) | 3 Months Ended | 6 Months Ended |
Jun. 30, 2015 | Jun. 30, 2016 | |
Loans Receivable [Abstract] | ||
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Six-Month Period Ended June 30, 2016 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 year $ 26 $ 3,429 $ 2,087 $ - $ 5,542 Charge-offs (19) (1,825) (1,308) - (3,152) Recoveries 40 169 1,044 - 1,253 Provision (recapture) for acquired BBVAPR loan and lease losses accounted for under ASC 310-20 (26) 1,229 (359) - 844 Balance at end of year $ 21 $ 3,002 $ 1,464 $ - $ 4,487 Six-Month Period Ended June 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 year $ 65 $ 1,211 $ 3,321 $ - $ 4,597 Charge-offs (16) (2,686) (2,304) - (5,006) Recoveries 17 563 1,072 - 1,652 Provision (recapture) for acquired loan and lease losses accounted for under ASC 310-20 (12) 3,528 770 - 4,286 Balance at end of period $ 54 $ 2,616 $ 2,859 $ - $ 5,529 | The composition of the Company’s allowance for loan and lease losses at June 30 , 2016 and December 31 , 2015 was as follows : June 30, December 31, 2016 2015 (In thousands) Allowance for loans and lease losses on non-acquired loans: Originated and other loans and leases held for investment: Mortgage $ 18,537 $ 18,352 Commercial 63,144 64,791 Consumer 11,771 11,197 Auto and leasing 19,259 18,261 Unallocated 101 25 Total allowance for originated and other loans and lease losses 112,812 112,626 Acquired loans: Acquired BBVAPR loans: Accounted for under ASC 310-20 (Loans with revolving feature and/or acquired at a premium) Commercial 21 26 Consumer 3,002 3,429 Auto 1,464 2,087 4,487 5,542 Accounted for under ASC 310-30 (Loans acquired with deteriorated credit quality, including those by analogy) (a) Mortgage 1,585 1,762 Commercial 15,863 21,161 Auto 5,353 2,862 22,801 25,785 Total allowance for acquired BBVAPR loans and lease losses 27,288 31,327 Acquired Eurobank loans: (a) Loans secured by 1-4 family residential properties 11,016 22,570 Commercial and other construction 11,096 67,365 Consumer 4 243 Total allowance for acquired Eurobank loan and lease losses (a) 22,116 90,178 Total allowance for loan and lease losses (a) $ 162,216 $ 234,131 (a) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was derecognized on June 30, 2016 due to the revision in the derecognition policy for these loans. 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 origina ted and other loans held for investment by segment for the periods indicated: Quarter Ended June 30, 2016 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 $ 18,784 $ 64,206 $ 11,414 $ 18,716 $ 118 $ 113,238 Charge-offs (1,374) (833) (2,811) (8,100) - (13,118) Recoveries 36 228 133 3,243 - 3,640 Provision (recapture) for originated and other loans and lease losses 1,091 (457) 3,035 5,400 (17) 9,052 Balance at end of period $ 18,537 $ 63,144 $ 11,771 $ 19,259 $ 101 $ 112,812 Six-Month Period Ended June 30, 2016 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 $ 18,352 $ 64,791 $ 11,197 $ 18,261 $ 25 $ 112,626 Charge-offs (3,036) (1,844) (5,138) (16,462) - (26,480) Recoveries 181 316 235 6,222 - 6,954 Provision (recapture) for loan and lease losses 3,040 (119) 5,477 11,238 76 19,712 Balance at end of period $ 18,537 $ 63,144 $ 11,771 $ 19,259 $ 101 $ 112,812 June 30, 2016 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 $ 8,864 $ 56,758 $ - $ - $ - $ 65,622 Collectively evaluated for impairment 9,673 6,386 11,771 19,259 101 47,190 Total ending allowance balance $ 18,537 $ 63,144 $ 11,771 $ 19,259 $ 101 $ 112,812 Loans: Individually evaluated for impairment $ 90,948 $ 217,960 $ - $ - $ - $ 308,908 Collectively evaluated for impairment 650,969 1,258,653 265,269 712,268 - 2,887,159 Total ending loan balance $ 741,917 $ 1,476,613 $ 265,269 $ 712,268 $ - $ 3,196,067 Quarter Ended June 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 $ 18,086 $ 33,123 $ 9,405 $ 15,762 $ 383 $ 76,759 Charge-offs (1,356) (497) (2,309) (7,662) - (11,824) Recoveries 67 219 390 3,425 - 4,101 Provision for originated and other loans and lease losses 1,279 1,934 2,978 3,539 223 9,953 Balance at end of period $ 18,076 $ 34,779 $ 10,464 $ 15,064 $ 606 $ 78,989 December 31, 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 $ 9,233 $ 55,947 $ - $ - $ - $ 65,180 Collectively evaluated for impairment 9,119 8,844 11,197 18,261 25 47,446 Total ending allowance balance $ 18,352 $ 64,791 $ 11,197 $ 18,261 $ 25 $ 112,626 Loans: Individually evaluated for impairment $ 89,973 $ 235,294 $ - $ - $ - $ 325,267 Collectively evaluated for impairment 667,855 1,206,355 242,950 669,163 - 2,786,323 Total ending loan balance $ 757,828 $ 1,441,649 $ 242,950 $ 669,163 $ - $ 3,111,590 Allowance for BBVAPR Acquired Loan Losses Loans accounted for under ASC 310-20 (Loans with revolving feature and/or acquired at a premium) The following tables present the activity in our allowance for loan losses and related recorded investment of the associated loans in our BBVAPR acquired loan portfolio, excluding loans accounted for under ASC 310-30, for the periods indicated Quarter Ended June 30, 2016 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 $ 23 $ 3,243 $ 1,727 $ - $ 4,993 Charge-offs (12) (1,013) (571) - (1,596) Recoveries 8 88 446 - 542 Provision (recapture) for acquired BBVAPR loan and lease losses accounted for under ASC 310-20 2 684 (138) - 548 Balance at end of period $ 21 $ 3,002 $ 1,464 $ - $ 4,487 June 30, 2016 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 $ 21 $ 3,002 $ 1,464 $ - $ 4,487 Total ending allowance balance $ 21 $ 3,002 $ 1,464 $ - $ 4,487 Loans: Individually evaluated for impairment $ 1,433 $ - $ - $ - $ 1,433 Collectively evaluated for impairment 3,126 35,194 77,118 - 115,438 Total ending loan balance $ 4,559 $ 35,194 $ 77,118 $ - $ 116,871 Quarter Ended June 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 $ 49 $ 1,885 $ 3,516 $ - $ 5,450 Charge-offs (16) (1,303) (1,038) - (2,357) Recoveries 7 429 502 - 938 Provision (recapture) for acquired loan and lease losses accounted for under ASC 310-20 14 1,605 (121) - 1,498 Balance at end of period $ 54 $ 2,616 $ 2,859 $ - $ 5,529 December 31, 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 $ 26 $ 3,429 $ 2,087 $ - $ 5,542 Total ending allowance balance $ 26 $ 3,429 $ 2,087 $ - $ 5,542 Loans: Individually evaluated for impairment $ 474 $ - $ - $ - $ 474 Collectively evaluated for impairment 6,983 38,385 106,911 - 152,279 Total ending loan balance $ 7,457 $ 38,385 $ 106,911 $ - $ 152,753 The following tables present the activity in our allowance for loan losses and related recorded investment of the acquired BBVAPR loan portfolio accounted for under ASC 310-30, for the periods indicated : Quarter Ended June 30, 2016 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 $ 1,762 $ 20,430 $ - $ 5,555 $ 27,747 (Recapture) provision for BBVAPR loans and lease losses accounted for under ASC 310-30 (163) 3,977 - - 3,814 Loan pools fully charged-off (14) - - (202) (216) Allowance de-recognition (a) - (8,544) - - (8,544) Balance at end of period $ 1,585 $ 15,863 $ - $ 5,353 $ 22,801 (a) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was derecognized on June 30, 2016 due to the revision in the derecognition policy for these loans. Six-Month Period Ended June 30, 2016 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 $ 1,678 $ 21,245 $ - $ 2,862 $ 25,785 (Recapture) provision for BBVAPR loans and lease losses accounted for under ASC 310-30 (79) 3,228 - 2,693 5,842 Loan pools fully charged-off (14) (66) - (202) (282) Allowance de-recognition (a) - (8,544) - - (8,544) Balance at end of period $ 1,585 $ 15,863 $ - $ 5,353 $ 22,801 (a) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was derecognized on June 30, 2016 due to the revision in the derecognition policy for these loans. The changes in the allowance for loan and lease losses on acquired Eurobank loans for the quarters and six-month periods ended June 30 , 2016 and 2015 were as follows: Quarter Ended June 30, 2016 Loans Secured by 1-4 Family Residential Properties Commercial and Construction Consumer Leasing Total (In thousands) Allowance for loan and lease losses for acquired Eurobank loans: Balance at beginning of period $ 23,961 $ 68,089 $ 243 $ - $ 92,293 Provision (recapture) for acquired Eurobank loans and lease losses, net 237 801 (7) - 1,031 FDIC shared-loss portion of provision for covered loan and lease losses, net 951 - - - 951 Allowance de-recognition (a) (14,133) (57,794) (232) - (72,159) Balance at end of period $ 11,016 $ 11,096 $ 4 $ - $ 22,116 (a) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was derecognized on June 30, 2016 due to the revision in the derecognition policy for these loans. Six-Month Period Ended June 30, 2016 Loans Secured by 1-4 Family Residential Properties Commercial and Construction Consumer Leasing Total (In thousands) Allowance for loan and lease losses for acquired Eurobank loans: Balance at beginning of period $ 22,570 $ 67,365 $ 243 $ - $ 90,178 Provision (recapture) for acquired Eurobank loans and lease losses, net 184 1,659 (7) - 1,836 FDIC shared-loss portion of provision for covered loan and lease losses, net 2,395 - - - 2,395 Loan pools fully charged-off - (134) - - (134) Allowance de-recognition (a) (14,133) (57,794) (232) - (72,159) Balance at end of year $ 11,016 $ 11,096 $ 4 $ - $ 22,116 (a) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was derecognized on June 30, 2016 due to the revision in the derecognition policy for these loans. Quarter Ended June 30, 2015 Mortgage Commercial and Construction Consumer Leasing Total (In thousands) Allowance for loan and lease losses for acquired Eurobank loans: Balance at beginning of period $ 17,340 $ 52,922 $ 389 $ - $ 70,651 Provision (recapture) for Eurobank loans and lease losses, net 148 (253) - - (105) FDIC shared-loss portion of provision for covered loan and lease losses, net 105 801 - - 906 Balance at end of period $ 17,593 $ 53,470 $ 389 $ - $ 71,452 Six-Month Period Ended June 30, 2015 Mortgage Commercial and Construction Consumer Leasing Total (In thousands) Allowance for loan and lease losses for Eurobank loans: Balance at beginning of year $ 15,522 $ 48,334 $ 389 $ - $ 64,245 Provision for Eurobank loans and lease losses, net 1,966 2,738 - - 4,704 FDIC shared-loss portion of provision for covered loan and lease losses, net 105 2,398 - - 2,503 Balance at end of year $ 17,593 $ 53,470 $ 389 $ - $ 71,452 |
FDIC Indemnification and True-u
FDIC Indemnification and True-up Payment Obligation (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
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 paymen t obligation for the quarters and six-month periods ended June 30 , 2016 and 2015 : Quarter Ended June 30, Six-Month Period Ended June 30, 2016 2015 2016 2015 (In thousands) (In thousands) FDIC indemnification asset: Balance at beginning of period $ 20,923 $ 75,221 $ 22,599 $ 97,378 Shared-loss agreements reimbursements from the FDIC (332) (24,387) (737) (38,087) Increase in expected credit losses to be covered under shared-loss agreements, net 951 906 2,395 2,503 FDIC indemnification asset expense (1,405) (22,512) (4,269) (34,733) Incurred expenses to be reimbursed under shared-loss agreements (1,711) (6,524) (1,562) (4,357) Balance at end of period $ 18,426 $ 22,704 $ 18,426 $ 22,704 True-up payment obligation: Balance at beginning of period $ 25,235 $ 22,844 $ 24,658 $ 21,981 Change in true-up payment obligation 537 733 1,114 1,596 Balance at end of period $ 25,772 $ 23,577 $ 25,772 $ 23,577 |
Schedule Of Business Acquisitions By Acquisition Contingent Consideration Text Block | June 30, December 31, 2016 2015 (In thousands) Carrying amount (fair value) $ 25,772 $ 24,658 Undiscounted amount $ 33,782 $ 34,956 |
FDIC Indemnification Asset Expense [Table Text block] | Quarter Ended June 30, Six-Month Period Ended June 30, 2016 2015 2016 2015 (In thousands) (In thousands) FDIC indemnification asset expense $ 1,405 $ 22,512 $ 4,269 $ 34,733 Change in true-up payment obligation 537 733 1,114 1,596 Reimbursement to FDIC for recoveries 1,478 - 2,066 - Total FDIC shared-loss expense, net $ 3,420 $ 23,245 $ 7,449 $ 36,329 |
Derivative Activities (Tables)
Derivative Activities (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Derivative Instrument Detail [Abstract] | |
Schedule Of Derivative Instruments Text Block | The following table presents the Company’s derivative assets and liabilities at June 30 , 2016 and December 31 , 2015 : June 30, December 31, 2016 2015 (In thousands) Derivative assets: Options tied to S&P 500 Index $ 187 $ 1,170 Interest rate swaps not designated as hedges 1,703 1,819 Interest rate caps 36 32 Other - 4 $ 1,926 $ 3,025 Derivative liabilities: Interest rate swaps designated as cash flow hedges $ 3,656 $ 4,307 Interest rate swaps not designated as hedges 1,703 1,819 Interest rate caps 36 32 Other 18 4 $ 5,413 $ 6,162 The following table shows a summary of these swaps and their terms at June 30 , 2016 : Notional Fixed Variable Trade Settlement Maturity Type Amount Rate Rate Index Date Date Date (In thousands) Interest Rate Swaps $ 25,000 2.6200% 1-Month LIBOR 05/05/11 07/24/12 07/24/16 25,000 2.6350% 1-Month LIBOR 05/05/11 07/30/12 07/30/16 50,000 2.6590% 1-Month LIBOR 05/05/11 08/10/12 08/10/16 100,000 2.6750% 1-Month LIBOR 05/05/11 08/16/12 08/16/16 37,290 2.4210% 1-Month LIBOR 07/03/13 07/03/13 08/01/23 $ 237,290 Notional Fixed Variable Settlement Maturity Type Amount Rate Rate Index Date Date (In thousands) Interest Rate Swaps - Derivatives Offered to Clients $ 3,682 5.1300% 1-Month LIBOR 07/03/06 07/03/16 12,500 5.5050% 1-Month LIBOR 04/11/09 04/11/19 $ 16,182 Interest Rate Swaps - Mirror Image Derivatives $ 3,682 5.1300% 1-Month LIBOR 07/03/06 07/03/16 12,500 5.5050% 1-Month LIBOR 04/11/09 04/11/19 $ 16,182 |
Other Assets (Tables)
Other Assets (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Other asset | |
Schedule of Accrued interest receivable [Table Text Block] | June 30, December 31, 2016 2015 (In thousands) Loans, excluding acquired loans $ 16,545 $ 16,020 Investments 3,464 4,617 $ 20,009 $ 20,637 |
Schedule of Other Assets [Table Text Block] | Other assets at June 30 , 2016 and December 31 , 2015 consist of the following June 30, December 31, 2016 2015 (In thousands) Prepaid expenses 16,332 11,762 Other repossessed assets 3,866 6,226 Core deposit and customer relationship intangibles 6,999 7,838 Mortgage tax credits 6,277 6,277 Investment in Statutory Trust 1,083 1,083 Accounts receivable and other assets 42,255 42,786 $ 76,812 $ 75,972 |
Deposits and Related Interest (
Deposits and Related Interest (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Deposits, by Component, Alternative [Abstract] | |
Deposits By Component [Table Text Block] | Total deposits, including related accrued interest payable, as of June 30 , 2016 and December 31 , 2015 consists of the following: June 30, December 31, 2016 2015 (In thousands) Non-interest bearing demand deposits $ 917,260 $ 762,009 Interest-bearing savings and demand deposits 2,165,907 2,208,180 Individual retirement accounts 269,189 268,799 Retail certificates of deposit 525,979 441,998 Institutional certificates of deposit 204,074 253,791 Total core deposits 4,082,409 3,934,777 Brokered deposits 561,645 782,974 Total deposits $ 4,644,054 $ 4,717,751 |
Interest Expense Domestic Deposit Liabilities [Table Text Block] | Interest expense for the quarters and six-month periods ended June 30 , 2016 and 2015 was as follows : Quarter Ended June 30, Six-Month Period Ended June 30, 2016 2015 2016 2015 (In thousands) (In thousands) Demand and savings deposits $ 3,184 $ 3,100 $ 6,026 $ 6,482 Certificates of deposit 4,183 3,504 8,465 7,226 $ 7,367 $ 6,604 $ 14,491 $ 13,708 |
Maturities Of Time Deposits [Table Text Block] | Excluding equity indexed options in the amount of $ 181 thousand , which are used by the Company to manage its exposure to the S&P 500 Index, and also excluding accrued interest of $ 1.8 million and unamortized deposit discount in the amount of $ 150 thousand, the scheduled maturities of certificates of deposit at June 30 , 2016 and December 31 , 2015 are as follows: June 30, 2016 December 31, 2015 (In thousands) Within one year: Three (3) months or less $ 225,512 $ 474,051 Over 3 months through 1 year 518,304 501,551 743,816 975,602 Over 1 through 2 years 513,092 454,906 Over 2 through 3 years 155,666 176,406 Over 3 through 4 years 36,059 32,396 Over 4 through 5 years 44,340 33,715 $ 1,492,973 $ 1,673,025 |
Borrowings (Tables)
Borrowings (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Debt Instruments [Abstract] | |
Schedule Of Repurchase Agreement Counterparty [Table Text Block] | At June 30 , 2016 and December 31 , 2015 , securities sold under agreements to repurchase (classified by counterparty), excluding accrued interest in the amount of $ 1.6 million and $ 2.2 million, respectively , were as follows: June 30, December 31, 2016 2015 Fair Value of Fair Value of Borrowing Underlying Borrowing Underlying Balance Collateral Balance Collateral (In thousands) JP Morgan Chase Bank NA $ 222,500 $ 231,586 $ 262,500 $ 283,483 Credit Suisse Securities (USA) LLC 402,000 437,103 670,000 737,887 Total $ 624,500 $ 668,689 $ 932,500 $ 1,021,370 |
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 $1.6 million, at June 30 , 2016 : Weighted- Borrowing Average Maturity Year of Maturity Balance Coupon Settlement Date Date (In thousands) 2016 $ 170,000 1.500% 12/6/2012 12/8/2016 2017 232,000 4.780% 3/2/2007 3/2/2017 2018 222,500 1.420% 12/10/2012 4/29/2018 $ 624,500 2.690% |
Schedule of Repurchase Agreements [Table] | June 30, 2016 Market Value of Underlying Collateral Weighted FNMA and US Treasury Repurchase Average FHLMC GNMA Treasury Liability Rate Certificates Certificates Notes Total (Dollars in thousands) Over 90 days $ 624,500 2.69% $ 646,889 $ 1,579 $ 20,221 $ 668,689 December 31, 2015 Market Value of Underlying Collateral Weighted FNMA and US Treasury Repurchase Average FHLMC GNMA Treasury Liability Rate Certificates Certificates Notes Total (Dollars in thousands) Less than 90 days $ 30,000 0.70% $ 31,961 $ - $ - $ 31,961 Over 90 days 902,500 3.18% 974,698 2,131 12,580 989,409 Total $ 932,500 3.10% $ 1,006,659 $ 2,131 $ 12,580 $ 1,021,370 |
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 $ 3 3 6 thousand , at June 30 , 2016 : Weighted- Borrowing Average Maturity Year of Maturity Balance Coupon Settlement Date Date (In thousands) 2016 $ 50,000 0.56% 6/10/2016 7/11/2016 100,000 0.59% 6/16/2016 7/18/2016 25,000 0.60% 6/24/2016 7/25/2016 25,000 0.57% 6/30/2016 7/29/2016 37,290 0.63% 6/1/2016 7/1/2016 237,290 2017 4,150 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 9,704 2.59% 7/19/2013 7/20/2020 $ 306,144 0.95% |
Redemtion Funds [Table Text Block] | Redemption fund (In thousands) Redemption fund at June 30, 2016 $ 67,000 $ 67,000 |
Offset of Assets_Liabilities (T
Offset of Assets/Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Offsetting [Abstract] | |
Offsetting Assets [Table Text Block] | June 30, 2016 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 $ 1,926 $ - $ 1,926 $ 2,009 $ - $ (83) December 31, 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 $ 3,025 $ - $ 3,025 $ 2,000 $ - $ 1,025 |
Offsetting Liabilities [Table Text Block] | June 30, 2016 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 $ 5,594 $ - $ 5,594 $ - $ 1,980 $ 3,614 Securities sold under agreements to repurchase 624,500 - 624,500 668,689 - (44,189) Total $ 630,094 $ - $ 630,094 $ 668,689 $ 1,980 $ (40,575) December 31, 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 $ 7,257 $ - $ 7,257 $ - $ 1,980 $ 5,277 Securities sold under agreements to repurchase 932,500 - 932,500 1,021,370 - (88,870) Total $ 939,757 $ - $ 939,757 $ 1,021,370 $ 1,980 $ (83,593) |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Related Party Transactions [Abstract] | |
Schedule of Related Party Transactions [Table Text Block] | The activity and balance of these loans for the quarters and six-month periods ended June 30 , 2016 and 2015 was as follows: Quarter Ended June 30, Six-Month Period Ended June 30, 2016 2015 2016 2015 (In thousands) (In thousands) Balance at the beginning of year $ 31,134 $ 27,508 $ 31,475 $ 27,011 New loans and disbursements 1,596 6,457 1,799 10,312 Repayments (2,034) (647) (2,578) (4,005) Balance at the end of period $ 30,696 $ 33,318 $ 30,696 $ 33,318 |
Regulatory Capital Requiremen41
Regulatory Capital Requirements (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
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 June 30 , 2016 and December 31 , 2015 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 June 30, 2016 Total capital to risk-weighted assets $ 849,147 18.00% $ 377,323 8.00% $ 471,653 10.00% Tier 1 capital to risk-weighted assets $ 788,349 16.71% $ 282,992 6.00% $ 377,323 8.00% Common equity tier 1 capital to risk-weighted assets $ 596,080 12.64% $ 212,244 4.50% $ 306,575 6.50% Tier 1 capital to average total assets $ 788,349 11.92% $ 264,633 4.00% $ 330,791 5.00% As of December 31, 2015 Total capital to risk-weighted assets $ 846,748 17.29% $ 391,723 8.00% $ 489,654 10.00% Tier 1 capital to risk-weighted assets $ 782,912 15.99% $ 293,792 6.00% $ 391,723 8.00% Common equity tier 1 capital to risk-weighted assets $ 594,482 12.14% $ 220,344 4.50% $ 318,275 6.50% Tier 1 capital to average total assets $ 782,912 11.18% $ 280,009 4.00% $ 350,011 5.00% Minimum Capital Minimum to be Well Actual Requirement Capitalized Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Bank Ratios As of June 30, 2016 Total capital to risk-weighted assets $ 830,002 17.62% $ 376,874 8.00% $ 471,093 10.00% Tier 1 capital to risk-weighted assets $ 769,424 16.33% $ 282,656 6.00% $ 376,874 8.00% Common equity tier 1 capital to risk-weighted assets $ 769,424 16.33% $ 211,992 4.50% $ 306,210 6.50% Tier 1 capital to average total assets $ 769,424 11.68% $ 263,464 4.00% $ 329,330 5.00% As of December 31, 2015 Total capital to risk-weighted assets $ 815,458 16.70% $ 390,688 8.00% $ 488,360 10.00% Tier 1 capital to risk-weighted assets $ 751,886 15.40% $ 293,016 6.00% $ 390,688 8.00% Common equity tier 1 capital to risk-weighted assets $ 751,886 15.40% $ 219,762 4.50% $ 317,434 6.50% Tier 1 capital to average total assets $ 751,886 10.80% $ 278,399 4.00% $ 347,999 5.00% |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
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 six-month periods ended June 30 , 2016 and 2015 is set forth below Six-Month Period Ended June 30 2016 2015 Dollar Dollar Shares Amount Shares Amount (In thousands, except shares data) Beginning of period 8,757,960 $ 105,379 8,012,254 $ 97,070 Common shares used upon lapse of restricted stock units (45,810) (505) (58,279) (640) Common shares repurchased as part of the stock repurchase program - - 303,985 4,238 End of period 8,712,150 $ 104,874 8,257,960 $ 100,668 |
Accumulated Other Comprehensi43
Accumulated Other Comprehensive Income (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Disclosure Text Block Abstract | |
Schedule of Accumulated Other Comprehensive Income (Loss) | Accumulated other comprehensive income, net of income tax, as of June 30 , 2016 and December 31 , 2015 consisted of: June 30, December 31, 2016 2015 (In thousands) Unrealized gain on securities available-for-sale which are not other-than-temporarily impaired $ 19,004 $ 22,044 Unrealized gain on securities available-for-sale which are other-than-temporarily impaired - (3,196) Income tax effect of unrealized gain on securities available-for-sale (919) (1,924) Net unrealized gain on securities available-for-sale which are not other-than-temporarily impaired, net of tax 18,085 16,924 Unrealized loss on cash flow hedges (3,655) (4,307) Income tax effect of unrealized loss on cash flow hedges 1,375 1,380 Net unrealized loss on cash flow hedges (2,280) (2,927) Accumulated other comprehensive income, net of taxes $ 15,805 $ 13,997 The following table presents changes in accumulated other comprehensive income by component, net of taxes, for the quarters and six-month periods ended June 30 , 2016 and 2015 : Quarter Ended June 30, 2016 2015 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 $ 15,089 $ (2,805) $ 12,284 $ 30,214 $ (5,890) $ 24,324 Other comprehensive income (loss) before reclassifications 3,060 (949) 2,111 (11,523) (180) (11,703) Amounts reclassified out of accumulated other comprehensive (loss) income (64) 1,474 1,410 141 1,539 1,680 Other comprehensive income (loss) 2,996 525 3,521 (11,382) 1,359 (10,023) Ending balance $ 18,085 $ (2,280) $ 15,805 $ 18,832 $ (4,531) $ 14,301 Six-Month Period Ended June 30, 2016 2015 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 $ 16,924 $ (2,927) $ 13,997 $ 25,764 $ (6,053) $ 19,711 Other comprehensive (loss) before reclassifications (1,266) (2,406) (3,672) (7,212) (1,549) (8,761) Amounts reclassified out of accumulated other comprehensive income (loss) 2,427 3,053 5,480 280 3,071 3,351 Other comprehensive income (loss) 1,161 647 1,808 (6,932) 1,522 (5,410) Ending balance $ 18,085 $ (2,280) $ 15,805 $ 18,832 $ (4,531) $ 14,301 |
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 six-month periods ended June 30 , 2016 and 2015 : Amount reclassified out of accumulated other comprehensive income Affected Line Item in Quarter Ended June 30, Consolidated Statement 2016 2015 of Operations (In thousands) Cash flow hedges: Interest-rate contracts $ 1,354 $ 1,614 Net interest expense Tax effect from increase in capital gains tax rate 120 (75) Income tax expense Available-for-sale securities: Residual tax effect from OIB's change in applicable tax rate 8 12 Income tax expense Tax effect from increase in capital gains tax rate (72) 129 Income tax expense $ 1,410 $ 1,680 Amount reclassified out of accumulated other comprehensive income Affected Line Item in Six-Month Period Ended June 30, Consolidated Statement 2016 2015 of Operations (In thousands) Cash flow hedges: Interest-rate contracts $ 2,804 $ 3,220 Net interest expense Tax effect from increase in capital gains tax rate 249 (149) Income tax expense Available-for-sale securities: Residual tax effect from OIB's change in applicable tax rate 16 22 Income tax expense Other-than-temporary impairment losses on available for sale securities realized during the period 2,557 - Tax effect from increase in capital gains tax rate (146) 258 Income tax expense $ 5,480 $ 3,351 |
Earning Per Common Share (Table
Earning Per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | NOTE 17 – EARNINGS (LOSS) PER COMMON SHARE The calculation of earnings (loss) per common share for the quarters and six-month periods ended June 30 , 2016 and 2015 is as follows: Quarter Ended June 30, Six-Month Period Ended June 30, 2016 2015 2016 2015 (In thousands, except per share data) (In thousands, except per share data) Net income (loss) $ 14,339 $ (3,109) $ 28,510 $ (6,097) Less: Dividends on preferred stock Non-convertible preferred stock (Series A, B, and D) (1,629) (1,628) (3,256) (3,256) Convertible preferred stock (Series C) (1,837) (1,838) (3,675) (3,675) Income (loss) available to common shareholders $ 10,873 $ (6,575) $ 21,579 $ (13,028) Effect of assumed conversion of the convertible preferred stock 1,837 1,838 3,675 3,675 Income (loss) available to common shareholders assuming conversion $ 12,710 $ (4,737) $ 25,254 $ (9,353) Weighted average common shares and share equivalents: Average common shares outstanding 43,914 44,505 43,906 44,569 Effect of dilutive securities: Average potential common shares-options 43 110 37 148 Average potential common shares-assuming conversion of convertible preferred stock 7,138 7,159 7,138 7,159 Total weighted average common shares outstanding and equivalents 51,095 51,774 51,081 51,876 Earnings (loss) per common share - basic $ 0.25 $ (0.15) $ 0.49 $ (0.29) Earnings (loss) per common share - diluted $ 0.25 $ (0.15) $ 0.49 $ (0.29) |
Guarantees (Tables)
Guarantees (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
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, included in the unaudited consolidated statements of financial condition during the quarters and six-month periods ended June 30 , 2016 and 2015 . Quarter Ended June 30, Six-Month Period Ended June 30, 2016 2015 2016 2015 (In thousands) (In thousands) Balance at beginning of period $ 181 $ 487 $ 439 $ 927 Net (charge-offs/terminations) recoveries (19) (198) (277) (638) Balance at end of period $ 162 $ 289 $ 162 $ 289 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Commitments and Contingencies [Abstract] | |
Schedule Of Line Of Credit Facilities Text Block | Credit-related financial instruments at June 30 , 2016 and December 31 , 2015 were as follows: June 30, December 31, 2016 2015 (In thousands) Commitments to extend credit $ 461,054 $ 456,720 Commercial letters of credit 1,556 1,508 The summary of instruments that are considered financial guarantees in accordance with the authoritative guidance related to guaran tor’s accounting and disclosure requirements for guarantees, including indirect guarantees of indebtedness of others, at June 30 , 2016 and December 31 , 2015 , is as follows: June 30, December 31, 2016 2015 (In thousands) Standby letters of credit and financial guarantees $ 4,756 $ 14,656 Loans sold with recourse 21,064 22,374 |
Contractual Obligation Fiscal Year Maturity Schedule [Table Text Block] | Minimum Rent Year Ending December 31, (In thousands) 2016 $ 4,732 2017 6,850 2018 6,428 2019 6,387 2020 5,660 Thereafter 12,500 $ 42,557 |
Fair Value (Tables)
Fair Value (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
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: June 30, 2016 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ - $ 664,302 $ - $ 664,302 Trading securities - 348 - 348 Money market investments 5,740 - - 5,740 Derivative assets - 1,739 187 1,926 Servicing assets - - 7,932 7,932 Derivative liabilities - (5,413) (181) (5,594) $ 5,740 $ 660,976 $ 7,938 $ 674,654 Non-recurring fair value measurements: Impaired commercial loans $ - $ - $ 219,393 $ 219,393 Foreclosed real estate - - 51,220 51,220 Other repossessed assets - - 3,866 3,866 $ - $ - $ 274,479 $ 274,479 December 31, 2015 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ - $ 974,609 $ - $ 974,609 Trading securities - 288 - 288 Money market investments 4,699 - - 4,699 Derivative assets - 1,855 1,170 3,025 Servicing assets - - 7,455 7,455 Derivative liabilities - (6,162) (1,095) (7,257) $ 4,699 $ 970,590 $ 7,530 $ 982,819 Non-recurring fair value measurements: Impaired commercial loans $ - $ - $ 235,767 $ 235,767 Foreclosed real estate - - 58,176 58,176 Other repossessed assets - - 6,226 6,226 $ - $ - $ 300,169 $ 300,169 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 six-month periods ended June 30 , 2016 and 2015 : Quarter Ended June 30, 2016 Derivative Derivative asset liability (S&P (S&P Purchased Servicing Embedded Level 3 Instruments Only Options) assets Options) Total Balance at beginning of period $ 772 $ 7,819 $ (746) $ 7,845 Gains (losses) included in earnings (585) - 557 (28) New instruments acquired - 717 - 717 Principal repayments - (121) - (121) Amortization - - 8 8 Changes in fair value of servicing assets - (483) - (483) Balance at end of period $ 187 $ 7,932 $ (181) $ 7,938 Six-Month Period Ended June 30, 2016 Derivative Derivative asset liability (S&P (S&P Purchased Servicing Embedded Level 3 Instruments Only Options) assets Options) Total Balance at beginning of period $ 1,171 $ 7,455 $ (1,095) $ 7,531 Gains (losses) included in earnings (984) - 886 (98) New instruments acquired - 1,275 - 1,275 Principal repayments - (225) - (225) Amortization - - 28 28 Changes in fair value of servicing assets - (573) - (573) Balance at end of period $ 187 $ 7,932 $ (181) $ 7,938 Quarter Ended June 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 $ 3,734 $ 12,164 $ (3,617) $ 12,281 (Losses) included in earnings (1,596) - 1,517 (79) Sale of mortgage servicing rights held-for-sale - (6,985) - (6,985) Changes due to payments on loans - (313) - (313) New instruments acquired - 1,529 - 1,529 Changes in fair value related to price of MSRs held for sale - (835) - (835) Amortization - - 56 56 Changes in fair value of servicing assets - 231 - 231 Balance at end of period $ 2,138 $ 5,791 $ (2,044) $ 5,885 |
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 June 30 , 2016 : June 30, 2016 Fair Value Valuation Technique Unobservable Input Range (In thousands) Derivative assets (S&P Purchased Options) $ 187 Option pricing model Implied option volatility 41.87% Counterparty credit risk (based on 5-year credit default swap ("CDS") spread) 79.96%-89.03% Servicing assets $ 7,932 Cash flow valuation Constant prepayment rate 4.41% - 11.40% Discount rate 10.00% - 12.00% Derivative liability (S&P Embedded Options) $ (181) Option pricing model Implied option volatility 41.87% Counterparty credit risk (based on 5-year CDS spread) 79.96%-89.03% Collateral dependant impaired loans $ 28,558 Fair value of property or collateral Appraised value less disposition costs 29.20% - 43.20% Puerto Rico Electric Power Authority line of credit, net $ 183,020 Cash flow valuation Discount rate 7.25% Other non-collateral dependant impaired loans $ 7,814 Cash flow valuation Discount rate 4.25%-10.50% Foreclosed real estate $ 51,220 Fair value of property or collateral Appraised value less disposition costs 29.20% - 43.20% Other repossessed assets $ 3,866 Fair value of property or collateral Appraised value less disposition costs 29.20% - 43.20% |
Fair Value By Balance Sheet Grouping [Text Block] | The estimated fair value and carrying value of the Company ’s financial instruments at June 30 , 2016 and December 31 , 2015 is as follows: June 30, December 31, 2016 2015 Fair Carrying Fair Carrying Value Value Value Value (In thousands) Level 1 Financial Assets: Cash and cash equivalents $ 517,048 $ 517,048 $ 536,709 $ 536,709 Restricted cash 3,030 3,030 3,349 3,349 Level 2 Financial Assets: Trading securities 348 348 288 288 Investment securities available-for-sale 664,302 664,302 974,609 974,609 Investment securities held-to-maturity 643,530 635,399 614,679 620,189 Federal Home Loan Bank (FHLB) stock 19,838 19,838 20,783 20,783 Other investments 3 3 3 3 Derivative assets 1,739 1,739 1,855 1,855 Financial Liabilities: Derivative liabilities 5,413 5,413 6,162 6,162 Level 3 Financial Assets: Total loans (including loans held-for-sale) 4,163,769 4,373,617 4,101,219 4,434,213 Derivative assets 187 187 1,170 1,170 FDIC indemnification asset 11,064 18,426 17,786 22,599 Accrued interest receivable 20,009 20,009 20,637 20,637 Servicing assets 7,932 7,932 7,455 7,455 Accounts receivable and other assets 42,243 42,243 42,786 42,786 Financial Liabilities: Deposits 4,633,864 4,643,873 4,705,878 4,715,764 Securities sold under agreements to repurchase 630,933 626,109 955,859 934,691 Advances from FHLB 308,583 306,480 335,812 332,476 Other borrowings 2,599 1,753 2,593 1,734 Subordinated capital notes 98,944 102,983 94,940 102,633 Accrued expenses and other liabilities 88,930 88,930 92,935 92,935 Derivative liabilities embedded in deposits 181 181 1,095 1,095 |
Business Segments (Tables)
Business Segments (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
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 six-month periods ended June 30 , 2016 and 2015 : Quarter Ended June 30, 2016 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 79,675 $ 16 $ 8,217 $ 87,908 $ - $ 87,908 Interest expense (7,300) - (7,296) (14,596) - (14,596) Net interest income 72,375 16 921 73,312 - 73,312 Provision for loan and lease losses (14,445) - - (14,445) - (14,445) Non-interest income 8,214 6,910 31 15,155 - 15,155 Non-interest expenses (47,098) (4,908) (1,820) (53,826) - (53,825) Intersegment revenue 389 - 49 438 (438) - Intersegment expenses (49) (286) (103) (438) 438 - Income before income taxes $ 19,386 $ 1,732 $ (922) $ 20,196 $ - $ 20,197 Total assets $ 5,829,987 $ 19,054 $ 1,800,838 $ 7,649,879 $ (937,283) $ 6,712,596 Quarter Ended June 30, 2015 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 90,504 $ 24 $ 8,885 $ 99,413 $ - $ 99,413 Interest expense (7,110) - (10,011) (17,121) - (17,121) Net interest income 83,394 24 (1,126) 82,292 - 82,292 Provision for loan and lease losses (15,539) - - (15,539) - (15,539) Non-interest (loss) income (11,713) 6,893 164 (4,656) - (4,656) Non-interest expenses (56,844) (6,733) (860) (64,437) - (64,437) Intersegment revenue 163 - 61 224 (224) - Intersegment expenses (61) (87) (76) (224) 224 - (Loss) income before income taxes $ (600) $ 97 $ (1,837) $ (2,340) $ - $ (2,340) Total assets $ 6,153,663 $ 21,157 $ 2,136,293 $ 8,311,113 $ (912,788) $ 7,398,325 Six-Month Period Ended June 30, 2016 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 160,827 $ 34 $ 18,353 $ 179,214 $ - $ 179,214 Interest expense (14,107) - (16,820) (30,927) - (30,927) Net interest income 146,720 34 1,533 148,287 - 148,287 Provision for loan and lease losses (28,234) - - (28,234) - (28,234) Non-interest income (loss) 16,009 12,930 (281) 28,658 - 28,658 Non-interest expenses (97,786) (7,853) (3,043) (108,682) - (108,682) Intersegment revenue 787 - 149 936 (936) - Intersegment expenses (149) (577) (210) (936) 936 - Income (loss) before income taxes $ 37,347 $ 4,534 $ (1,852) $ 40,029 $ - $ 40,029 Six-Month Period Ended June 30, 2015 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 187,986 $ 47 $ 18,381 $ 206,414 $ - $ 206,414 Interest expense (14,564) - (19,923) (34,487) - (34,487) Net interest income 173,422 47 (1,542) 171,927 - 171,927 Provision for loan and lease losses (57,732) - - (57,732) - (57,732) Non-interest income (loss) (13,962) 13,903 2,284 2,225 - 2,225 Non-interest expenses (106,156) (11,524) (3,089) (120,769) - (120,769) Intersegment revenue 707 - 160 866 (866) - Intersegment expenses (159) (518) (189) (866) 866 - (Loss) income before income taxes $ (3,880) $ 1,908 $ (2,376) $ (4,349) $ - $ (4,349) |
Restricted Cash (Narrative) (De
Restricted Cash (Narrative) (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Restricted Cash And Cash Equivalents Items Line Items | ||
Certificates Of Deposits Oriental International Banking and Oriental Overseas | $ 300,000 | $ 300,000 |
Reserve required by local Goverment | 178,100,000 | 148,300,000 |
Deposit pledged as collateral | 3,030,000 | 3,349,000 |
Derivative | ||
Restricted Cash And Cash Equivalents Items Line Items | ||
Deposit pledged as collateral | 1,980,000 | 1,980,000 |
Residential Loans Sold with Recourse [Member] | ||
Restricted Cash And Cash Equivalents Items Line Items | ||
Deposit pledged as collateral | $ 1,050,000 | $ 1,369,000 |
Restricted Cash (Composition) (
Restricted Cash (Composition) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Restricted Cash And Cash Equivalents Items Line Items | ||
Deposit pledged as collateral | $ 3,030 | $ 3,349 |
Derivatives | ||
Restricted Cash And Cash Equivalents Items Line Items | ||
Deposit pledged as collateral | 1,980 | 1,980 |
Obligations under agreements of loans sold with recourse | ||
Restricted Cash And Cash Equivalents Items Line Items | ||
Deposit pledged as collateral | $ 1,050 | $ 1,369 |
Investment Securities (Narrativ
Investment Securities (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | |
Investments, Debt and Equity Securities [Abstract] | ||||||
Investments Guaranteed by US Treasury and Sponsored Agencies in Unrealized Loss on Position | $ 54,500 | $ 54,500 | ||||
Investments Guaranteed by Puerto Rico Government and its Political Subdivisions in Unrealized Loss On Position | $ 6,700 | $ 6,700 | ||||
Investments Guaranteed By Us Treasury And Sponsored Agencies in Unrealized Loss Position Percentage To Total Investment in Unrealized Loss Position | 89.00% | 89.00% | ||||
Investments Guaranteed By Puerto Rico Government and Its Political Subdivisions in Unrealized Loss Position Percentage To Total Investment in Unrealized Loss Position | 11.00% | 11.00% | ||||
Money market investments | $ 5,740 | $ 5,740 | $ 4,699 | |||
Securitized GNMA pools, amortized cost | $ 54,200 | $ 54,200 | ||||
Securitized GNMA pool, yield | 3.01% | 3.01% | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Gain (Loss) on Sale of Securities, Net | $ 211 | $ 0 | $ 12,207 | $ 2,572 | ||
Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held | 0 | $ 0 | 0 | 0 | $ 1,490 | $ 0 |
Investments Guaranteed By Local Government And Its Political Subdivisions In Unrealized Loss On Position with Default Probability Principal | 6,700 | 6,700 | ||||
Investments Guaranteed By Local Government And Its Political Subdivisions In Unrealized Loss On Position with Cumulative Default Probability Fair Value | $ 5,800 | $ 5,800 | ||||
Investments Guaranteed By Local Government And Its Political Subdivisions In Unrealized Loss Position Fair Vaue Percentage to Total Cost | 87.00% | 87.00% | ||||
Investments Guaranteed By Local Government And Its Political Subdivisions In Unrealized Loss Position With Cumulative Default Percentage at Maturity | 10.20% | 10.20% | ||||
Government Investment with Default Probability Payment Received | $ 2,000 | $ 2,000 | ||||
Collateralized Mortgage Backed Securities [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Available-for-sale securities, Book Value | 288,276 | 101,258 | ||||
Collateralized Mortgage Backed Securities [Member] | FNMA and FHLMC [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Available-for-sale securities, Book Value | 277,181 | 37,735 | ||||
Collateralized Mortgage Backed Securities [Member] | Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Available-for-sale securities, Book Value | $ 11,095 | $ 63,523 |
Investment Securities (Investme
Investment Securities (Investment securities) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 645,298 | $ 955,646 |
Available-for-sale Securities, Gross Unrealized Gains | 20,055 | 27,312 |
Available-for-sale Securities, Gross Unrealized Losses | 1,051 | 8,349 |
Available-for-sale Securities | $ 664,302 | $ 974,609 |
Available for sale - Weighted Average Yield | 2.57% | 2.87% |
Held-to-maturity, Amortized cost | $ 635,399 | $ 620,189 |
Held to maturity Securities Unrecognized Gains | 8,131 | 426 |
Held-to-maturity Securities, Unrecognized Loss | 0 | 5,936 |
Held to maturity Fair Value | $ 643,530 | $ 614,679 |
Held to maturity - Weighted Average Yield | 2.13% | 0.0217% |
Total Securities - Amortized Cost | $ 1,280,697 | $ 1,575,835 |
Total Securities Gross Unrealized Gains | 28,186 | 27,738 |
Total Securities Gross Unrealized Losses | 1,051 | 14,285 |
Total Securities Fair Value | $ 1,307,832 | $ 1,589,288 |
Marketable Securities Weighted Average Yield | 2.36% | 2.60% |
Collateralized Mortgage Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 632,009 | $ 930,279 |
Available-for-sale Securities, Gross Unrealized Gains | 19,894 | 27,184 |
Available-for-sale Securities, Gross Unrealized Losses | 179 | 4,250 |
Available-for-sale Securities | $ 651,724 | $ 953,213 |
Available for sale - Weighted Average Yield | 2.55% | 2.82% |
Held-to-maturity, Amortized cost | $ 610,384 | $ 595,157 |
Held to maturity Securities Unrecognized Gains | 8,121 | 426 |
Held-to-maturity Securities, Unrecognized Loss | 0 | 5,865 |
Held to maturity Fair Value | $ 618,505 | $ 589,718 |
Held to maturity - Weighted Average Yield | 2.20% | 0.0224% |
Collateralized Mortgage Backed Securities [Member] | FNMA and FHLMC [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 402,557 | $ 735,363 |
Available-for-sale Securities, Gross Unrealized Gains | 14,414 | 25,791 |
Available-for-sale Securities, Gross Unrealized Losses | 0 | 1,509 |
Available-for-sale Securities | $ 416,971 | $ 759,645 |
Available for sale - Weighted Average Yield | 2.61% | 2.97% |
Held-to-maturity, Amortized cost | $ 610,384 | $ 595,157 |
Held to maturity Securities Unrecognized Gains | 8,121 | 426 |
Held-to-maturity Securities, Unrecognized Loss | 0 | 5,865 |
Held to maturity Fair Value | $ 618,505 | $ 589,718 |
Held to maturity - Weighted Average Yield | 2.20% | 2.24% |
Collateralized Mortgage Backed Securities [Member] | GNMA [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 109,214 | $ 57,129 |
Available-for-sale Securities, Gross Unrealized Gains | 5,064 | 1,366 |
Available-for-sale Securities, Gross Unrealized Losses | 0 | 0 |
Available-for-sale Securities | $ 114,278 | $ 58,495 |
Available for sale - Weighted Average Yield | 3.06% | 3.19% |
Collateralized Mortgage Backed Securities [Member] | CMO's [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 120,238 | $ 137,787 |
Available-for-sale Securities, Gross Unrealized Gains | 416 | 27 |
Available-for-sale Securities, Gross Unrealized Losses | 179 | 2,741 |
Available-for-sale Securities | $ 120,475 | $ 135,073 |
Available for sale - Weighted Average Yield | 1.87% | 1.85% |
Securities Investment [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 13,289 | $ 25,367 |
Available-for-sale Securities, Gross Unrealized Gains | 161 | 128 |
Available-for-sale Securities, Gross Unrealized Losses | 872 | 4,099 |
Available-for-sale Securities | $ 12,578 | $ 21,396 |
Available for sale - Weighted Average Yield | 3.73% | 4.94% |
Held-to-maturity, Amortized cost | $ 25,032 | |
Held to maturity Securities Unrecognized Gains | $ 10 | 0 |
Held-to-maturity Securities, Unrecognized Loss | 0 | 71 |
Held to maturity Fair Value | $ 25,025 | $ 24,961 |
Held to maturity - Weighted Average Yield | 0.49% | 0.0049% |
Securities Investment [Member] | US Treasury Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Held-to-maturity, Amortized cost | $ 25,015 | $ 25,032 |
Held to maturity Securities Unrecognized Gains | 10 | 0 |
Held-to-maturity Securities, Unrecognized Loss | 0 | 71 |
Held to maturity Fair Value | $ 25,025 | $ 24,961 |
Held to maturity - Weighted Average Yield | 0.49% | 0.0049% |
Securities Investment [Member] | Obligation of US Government sponsored agencies at loss [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 4,468 | $ 5,122 |
Available-for-sale Securities, Gross Unrealized Gains | 34 | 0 |
Available-for-sale Securities, Gross Unrealized Losses | 0 | 29 |
Available-for-sale Securities | $ 4,502 | $ 5,093 |
Available for sale - Weighted Average Yield | 1.37% | 1.36% |
Securities Investment [Member] | Obligation of Puerto Rico Government and political subdivisions [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 6,720 | $ 17,801 |
Available-for-sale Securities, Gross Unrealized Gains | 0 | 0 |
Available-for-sale Securities, Gross Unrealized Losses | 872 | 4,070 |
Available-for-sale Securities | $ 5,848 | $ 13,731 |
Available for sale - Weighted Average Yield | 5.55% | 6.24% |
Securities Investment [Member] | Other Debt Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 2,101 | $ 2,444 |
Available-for-sale Securities, Gross Unrealized Gains | 127 | 128 |
Available-for-sale Securities, Gross Unrealized Losses | 0 | 0 |
Available-for-sale Securities | $ 2,228 | $ 2,572 |
Available for sale - Weighted Average Yield | 2.94% | 2.98% |
Investment Securities (Invest53
Investment Securities (Investment securities by contractual maturity) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 645,298 | $ 955,646 |
Available-for-sale Securities | 664,302 | 974,609 |
Held-to-maturity, Amortized cost | 635,399 | 620,189 |
Held to maturity Fair Value | 643,530 | 614,679 |
Collateralized Mortgage Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 632,009 | 930,279 |
Available-for-sale Securities | 651,724 | 953,213 |
Held-to-maturity, Amortized cost | 610,384 | 595,157 |
Held to maturity Fair Value | 618,505 | 589,718 |
Collateralized Mortgage Backed Securities [Member] | FNMA and FHLMC [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 402,557 | 735,363 |
Available-for-sale Securities | 416,971 | 759,645 |
Held-to-maturity, Amortized cost | 610,384 | 595,157 |
Held to maturity Fair Value | 618,505 | 589,718 |
Collateralized Mortgage Backed Securities [Member] | GNMA [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 109,214 | 57,129 |
Available-for-sale Securities | 114,278 | 58,495 |
Collateralized Mortgage Backed Securities [Member] | CMO's [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 120,238 | 137,787 |
Available-for-sale Securities | 120,475 | 135,073 |
Collateralized Mortgage Backed Securities [Member] | Maturities Due From Five To Ten Years [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 12,650 | |
Available-for-sale Securities | 12,996 | |
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 | 12,650 | |
Available-for-sale Securities | 12,996 | |
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 | 619,359 | |
Available-for-sale Securities | 638,728 | |
Held-to-maturity, Amortized cost | 610,384 | |
Held to maturity Fair Value | 618,505 | |
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 | 389,907 | |
Available-for-sale Securities | 403,975 | |
Held-to-maturity, Amortized cost | 610,384 | |
Held to maturity Fair Value | 618,505 | |
Collateralized Mortgage Backed Securities [Member] | Maturities Due After Ten Years [Member] | GNMA [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 109,214 | |
Available-for-sale Securities | 114,278 | |
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 | 120,238 | |
Available-for-sale Securities | 120,475 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Investment Securities | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 13,289 | 25,367 |
Available-for-sale Securities | 12,578 | 21,396 |
Held-to-maturity, Amortized cost | 25,032 | |
Held to maturity Fair Value | 25,025 | 24,961 |
Investment Securities | US Treasury Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Held-to-maturity, Amortized cost | 25,015 | 25,032 |
Held to maturity Fair Value | 25,025 | 24,961 |
Investment Securities | Obligation of US Government sponsored agencies at loss [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 4,468 | 5,122 |
Available-for-sale Securities | 4,502 | 5,093 |
Investment Securities | Obligation of Puerto Rico Government and political subdivisions [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 6,720 | 17,801 |
Available-for-sale Securities | 5,848 | 13,731 |
Investment Securities | Other Debt Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 2,101 | 2,444 |
Available-for-sale Securities | 2,228 | $ 2,572 |
Investment Securities | Maturities Due From One To Five Years [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 6,720 | |
Available-for-sale Securities | 5,848 | |
Held-to-maturity, Amortized cost | 25,015 | |
Held to maturity Fair Value | 25,025 | |
Investment Securities | Maturities Due From One To Five Years [Member] | US Treasury Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 0 | |
Available-for-sale Securities | 0 | |
Held-to-maturity, Amortized cost | 25,015 | |
Held to maturity Fair Value | 25,025 | |
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 | 6,720 | |
Available-for-sale Securities | 5,848 | |
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 | 6,569 | |
Available-for-sale Securities | 6,730 | |
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 | 4,468 | |
Available-for-sale Securities | 4,502 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Investment Securities | Maturities Due From Five To Ten Years [Member] | Other Debt Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 2,101 | |
Available-for-sale Securities | 2,228 | |
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 | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Schedule of Available-for-sale Securities [Line Items] | ||
Sale Price | $ 300,483 | $ 103,831 |
Book Value | 288,276 | 101,258 |
Available-for-sale Securities, Gross Realized Gains | 16,324 | 2,572 |
Available-for-sale Securities, Gross Realized Losses | 4,117 | 0 |
FNMA and FHLMC [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Sale Price | 293,505 | 40,307 |
Book Value | 277,181 | 37,735 |
Available-for-sale Securities, Gross Realized Gains | 16,324 | 2,571 |
Available-for-sale Securities, Gross Realized Losses | 0 | 0 |
GNMA [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Sale Price | 6,978 | 63,524 |
Book Value | 11,095 | 63,523 |
Available-for-sale Securities, Gross Realized Gains | 0 | 1 |
Available-for-sale Securities, Gross Realized Losses | $ 4,117 | $ 0 |
Investment Securities (Gains an
Investment Securities (Gains and losses by category) (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | |
Available For Sale Securities Continuous Unrealized Loss Position Amortized Cost [Abstract] | |||
Available for sale - Amortized cost - less than 12 month | $ 180,338 | ||
Available for sale - Amortized cost - more than 12 month | $ 61,169 | 121,141 | |
Total Available for Sale Amortization cost | 61,169 | 301,479 | |
Available For Sale Securities Continuous Unrealized Loss Position Aggregate Losses [Abstract] | |||
Available for sale - Unrealized Loss - less than 12 month | 1,869 | ||
Available for sale - Unrealized Loss - more than 12 month | 1,051 | 6,480 | |
Total Available for Sale Unrealized Loss | 1,051 | 8,349 | |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value [Abstract] | |||
Available for sale - Fair Value - less than 12 month | 178,469 | ||
Available-for-sale, Fair Value - more than 12 month | 60,118 | 114,661 | |
Total Available for Sale Fair Value | 60,118 | 293,130 | |
Continuous Unrealized Loss Position Amortized Cost [Abstract] | |||
Held to Maturity - Amortized cost - less than 12 month | 493,519 | ||
Held to Maturity - Amortized Cost | 493,519 | ||
Held To Maturity Securities, Continuous Unrealized Loss Position Aggregate Losses [Abstract] | |||
Held to Maturity- Unrealized Loss - more than 12 month | 5,936 | ||
Held to Maturity- Unrealized Loss | 5,936 | ||
Held To Maturity Securities Continuous Unrealized Loss Position Fair Value [Abstract] | |||
Held-to-Maturity - Fair Value - less than 12 Month | 487,583 | ||
Held to Maturity - Fair Value | 487,583 | ||
Investment Securities Continuous Unrealized Loss Position [Abstract] | |||
Investment Securities - Amortized Cost - less than 12 month | 673,857 | ||
Investment Securities - Amortized Cost - more than 12 month | 61,169 | 121,141 | |
Investment Securities - Amortized Cost | 61,169 | 794,998 | $ 61,169 |
Investment Securities - Unrealized Position - less than 12 month | 7,805 | ||
Investment Securities - Unrealized Position - more than 12 month | 1,051 | 6,480 | |
Investment Securities - Unrealized Loss | 1,051 | 14,285 | |
Investment Securities - Fair Value - less than 12 month | 666,052 | ||
Investment Securities - Fair Value - more than 12 month | 60,118 | 114,661 | |
Investment Securities - Fair Value | 60,118 | 780,713 | $ 60,118 |
CMO's issued by us government sponsored agencies at loss | |||
Available For Sale Securities Continuous Unrealized Loss Position Amortized Cost [Abstract] | |||
Available for sale - Amortized cost - less than 12 month | 25,736 | ||
Available for sale - Amortized cost - more than 12 month | 54,449 | 103,340 | |
Total Available for Sale Amortization cost | 54,449 | 129,076 | |
Available For Sale Securities Continuous Unrealized Loss Position Aggregate Losses [Abstract] | |||
Available for sale - Unrealized Loss - less than 12 month | 331 | ||
Available for sale - Unrealized Loss - more than 12 month | 179 | 2,410 | |
Total Available for Sale Unrealized Loss | 179 | 2,741 | |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value [Abstract] | |||
Available for sale - Fair Value - less than 12 month | 25,405 | ||
Available-for-sale, Fair Value - more than 12 month | 54,270 | 100,930 | |
Total Available for Sale Fair Value | 54,270 | 126,335 | |
Obligation of Puerto Rico Government and public instrumentalities at loss | |||
Available For Sale Securities Continuous Unrealized Loss Position Amortized Cost [Abstract] | |||
Available for sale - Amortized cost - more than 12 month | 6,720 | 17,801 | |
Total Available for Sale Amortization cost | 6,720 | 17,801 | |
Available For Sale Securities Continuous Unrealized Loss Position Aggregate Losses [Abstract] | |||
Available for sale - Unrealized Loss - more than 12 month | 872 | 4,070 | |
Total Available for Sale Unrealized Loss | 872 | 4,070 | |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value [Abstract] | |||
Available-for-sale, Fair Value - more than 12 month | 5,848 | 13,731 | |
Total Available for Sale Fair Value | $ 5,848 | 13,731 | |
FNMA and FHLMC [Member] | |||
Available For Sale Securities Continuous Unrealized Loss Position Amortized Cost [Abstract] | |||
Available for sale - Amortized cost - less than 12 month | 149,480 | ||
Total Available for Sale Amortization cost | 149,480 | ||
Available For Sale Securities Continuous Unrealized Loss Position Aggregate Losses [Abstract] | |||
Available for sale - Unrealized Loss - less than 12 month | 1,509 | ||
Total Available for Sale Unrealized Loss | 1,509 | ||
Available For Sale Securities Continuous Unrealized Loss Position Fair Value [Abstract] | |||
Available for sale - Fair Value - less than 12 month | 147,971 | ||
Total Available for Sale Fair Value | 147,971 | ||
Continuous Unrealized Loss Position Amortized Cost [Abstract] | |||
Held to Maturity - Amortized cost - less than 12 month | 468,487 | ||
Held to Maturity - Amortized Cost | 468,487 | ||
Held To Maturity Securities, Continuous Unrealized Loss Position Aggregate Losses [Abstract] | |||
Held to Maturity- Unrealized Loss - more than 12 month | 5,865 | ||
Held to Maturity- Unrealized Loss | 5,865 | ||
Held To Maturity Securities Continuous Unrealized Loss Position Fair Value [Abstract] | |||
Held-to-Maturity - Fair Value - less than 12 Month | 462,622 | ||
Held to Maturity - Fair Value | 462,622 | ||
Obligation of US Government sponsored agencies at loss [Member] | |||
Available For Sale Securities Continuous Unrealized Loss Position Amortized Cost [Abstract] | |||
Available for sale - Amortized cost - less than 12 month | 5,122 | ||
Total Available for Sale Amortization cost | 5,122 | ||
Available For Sale Securities Continuous Unrealized Loss Position Aggregate Losses [Abstract] | |||
Available for sale - Unrealized Loss - less than 12 month | 29 | ||
Total Available for Sale Unrealized Loss | 29 | ||
Available For Sale Securities Continuous Unrealized Loss Position Fair Value [Abstract] | |||
Available for sale - Fair Value - less than 12 month | 5,093 | ||
US Treasury Securities at loss | |||
Continuous Unrealized Loss Position Amortized Cost [Abstract] | |||
Held to Maturity - Amortized cost - less than 12 month | 25,032 | ||
Held to Maturity - Amortized Cost | 25,032 | ||
Held To Maturity Securities, Continuous Unrealized Loss Position Aggregate Losses [Abstract] | |||
Held to Maturity- Unrealized Loss - more than 12 month | 71 | ||
Held to Maturity- Unrealized Loss | 71 | ||
Held To Maturity Securities Continuous Unrealized Loss Position Fair Value [Abstract] | |||
Held-to-Maturity - Fair Value - less than 12 Month | 24,961 | ||
Held to Maturity - Fair Value | $ 24,961 |
Investment Securities (Other-th
Investment Securities (Other-than-temporarily Impaired Securities) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Mar. 31, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Other Than Temporary Impairment Credit Losses Recognized In Earnings Roll Forward | |||
Begging Balance | $ 0 | $ 1,490 | $ 0 |
Reduction from Securities Solddurinf the period | $ 0 | (1,490) | 0 |
Ending Balance | $ 0 | $ 0 |
Loans Receivable (Narratives) (
Loans Receivable (Narratives) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2015 | Mar. 31, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Accounts Notes And Loans Receivable Line Items | ||||
Financing Receivable Modifications Recorded Investment Not Included In Non Accrual | $ 93,600,000 | $ 97,200,000 | ||
Originated Loans Granted To Puerto Rico Government | 334,600,000 | 327,000,000 | ||
Acquired Loans Under ASC 310-30 granted to the Puerto Rico Government | 80,900,000 | 71,600,000 | ||
Loans And Leases Receivable Gross Carrying Amount Covered | 92,300,000 | 76,800,000 | ||
Loans And Leases Receivable Net Reported Amount Covered | 67,200,000 | 65,800,000 | ||
Line Of Credit Facility Maximum Borrowing Capacity to Puerto Rico Government | 415,400,000 | 398,600,000 | ||
Credit Facilities Granted to the Puerto Rico Public Corporation | 194,400,000 | |||
Total four bank syndicate revolving line of credit granted to the Government of Puerto Rico | 550,000,000 | |||
Unpaid principal balance of the revolving line of credit granted to the Government of Puerto Rico | 190,300,000 | 183,000,000 | ||
Provision for Local Government Line of Credit | 29,300,000 | $ 24,000,000 | ||
Allowance for Local Government Line of Credit | 53,300,000 | |||
General obligations debt of municipalities secured | 204,000,000 | |||
Puerto Rico Housing Finance Authority credit facilities | 11,000,000 | |||
Impaired Commercial Loans | 235,800,000 | 219,400,000 | ||
Allowance for impaired commercial loans | 55,900,000 | 56,800,000 | ||
Impaired Mortgage Loans | 90,000,000 | 90,900,000 | ||
Allowance For Impaired Mortgage Loans | $ 9,200,000 | 8,900,000 | ||
State Housing Finance Authority credit facilities change in amount | 10,000,000 | |||
Interest Income Recognized for Covered Loans | 4,300,000 | $ 28,300,000 | ||
Change In Consumer Loans Delinquency Due To The Use Of Two Schedule Payments | 19,000 | |||
Change In Auto Loans Delinquency Due To The Use Of Two Schedule Payments | 5,900,000 | |||
Allowance de-recognition due to change in policy from acquired BBVAPR loans | 8,500,000 | |||
Allowance de-recognition due to change in policy from loans acquired Eurobank loans | $ 72,200,000 |
Loans Receivable (Composition o
Loans Receivable (Composition of loan portfolio) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 4,513,005 | $ 4,650,527 |
Allowance for loan and lease losses | (162,216) | (234,131) |
Loans, net of allowance for loan and lease losses, excluding loans held-for-sale. | 4,350,789 | 4,416,396 |
Deferred loan cost (fees), net | 4,619 | 4,203 |
Loans receivable net of deferred loan cost (fees) | 4,355,408 | 4,420,599 |
Mortgage loans held-for-sale | 18,209 | 13,614 |
Total loans, net | 4,373,617 | 4,434,213 |
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 | 116,871 | 7,457 |
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 | 4,559 | 7,457 |
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 | 35,194 | 38,385 |
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 | 77,118 | |
Originated Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 3,196,067 | 3,111,590 |
Allowance for loan and lease losses | (112,812) | (112,626) |
Loans, net of allowance for loan and lease losses, excluding loans held-for-sale. | 3,083,255 | 2,998,964 |
Deferred loan cost (fees), net | 4,619 | 4,203 |
Loans receivable net of deferred loan cost (fees) | 3,087,874 | 3,003,167 |
Total loans, net | 3,087,874 | 3,003,167 |
Originated Loan [Member] | Mortgage Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 741,917 | 757,828 |
Allowance for loan and lease losses | (18,537) | (18,352) |
Originated Loan [Member] | Commercial Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 1,476,613 | 1,441,649 |
Allowance for loan and lease losses | (63,144) | (64,791) |
Originated Loan [Member] | Consumer Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 265,269 | 242,950 |
Allowance for loan and lease losses | (11,771) | (11,197) |
Originated 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 | 712,268 | 669,163 |
Allowance for loan and lease losses | (19,259) | (18,261) |
Acquired loans [Member] | Acquired BBVAPR loans [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 1,155,374 | 1,301,973 |
Allowance for loan and lease losses | (27,288) | (31,327) |
Loans, net of allowance for loan and lease losses, excluding loans held-for-sale. | 1,128,086 | 1,270,646 |
Acquired loans [Member] | Acquired BBVAPR loans [Member] | Mortgage Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 591,029 | 608,294 |
Allowance for loan and lease losses | (1,585) | (1,762) |
Acquired loans [Member] | Acquired BBVAPR loans [Member] | Commercial Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 250,747 | 294,768 |
Allowance for loan and lease losses | (15,884) | (21,187) |
Acquired loans [Member] | Acquired BBVAPR loans [Member] | Consumer Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 42,525 | 50,228 |
Allowance for loan and lease losses | (3,002) | (3,429) |
Acquired loans [Member] | Acquired BBVAPR loans [Member] | Auto Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 194,156 | 260,503 |
Allowance for loan and lease losses | (6,817) | (4,949) |
Acquired loans [Member] | Acquired BBVAPR loans [Member] | Construction Loans [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 76,917 | 88,180 |
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 | 116,871 | 152,753 |
Allowance for loan and lease losses | (4,487) | (5,542) |
Loans, net of allowance for loan and lease losses, excluding loans held-for-sale. | 112,384 | 147,211 |
Loans receivable net of deferred loan cost (fees) | 112,384 | 147,211 |
Total loans, net | 112,384 | 147,211 |
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 | 4,559 | 7,457 |
Allowance for loan and lease losses | (21) | (26) |
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 | 35,194 | 38,385 |
Allowance for loan and lease losses | (3,002) | (3,429) |
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 | 77,118 | 106,911 |
Allowance for loan and lease losses | (1,464) | (2,087) |
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 | 1,038,503 | 1,149,220 |
Allowance for loan and lease losses | (22,801) | (25,785) |
Loans, net of allowance for loan and lease losses, excluding loans held-for-sale. | 1,015,702 | 1,123,435 |
Loans receivable net of deferred loan cost (fees) | 1,015,702 | 1,123,435 |
Total loans, net | 1,015,702 | 1,123,435 |
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 | 591,029 | 608,294 |
Allowance for loan and lease losses | (1,585) | (1,762) |
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 | 246,188 | 287,311 |
Allowance for loan and lease losses | (15,863) | (21,161) |
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 | 7,331 | 11,843 |
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 | 117,038 | 153,592 |
Allowance for loan and lease losses | (5,353) | (2,862) |
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 | 76,917 | 88,180 |
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 | 161,564 | 236,964 |
Allowance for loan and lease losses | (22,116) | (90,178) |
Loans, net of allowance for loan and lease losses, excluding loans held-for-sale. | 139,448 | 146,786 |
Loans receivable net of deferred loan cost (fees) | 139,448 | 146,786 |
Total loans, net | 139,448 | 146,786 |
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 | 83,377 | 142,377 |
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 | 1,410 | 2,314 |
Allowance for loan and lease losses | (4) | (243) |
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 | 76,777 | 92,273 |
Allowance for loan and lease losses | (11,016) | (22,570) |
Acquired loans [Member] | Eurobank Acquired Loans | Commercial and Other Construction Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Allowance for loan and lease losses | $ (11,096) | $ (67,365) |
Loans Receivable (Aging of reco
Loans Receivable (Aging of recorded investment in gross loans) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | $ 4,513,005 | $ 4,650,527 |
Originated Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 62,467 | 70,660 |
60 - 89 Days Past Due | 43,191 | 44,483 |
Greater than 90 Days Past Due | 95,008 | 100,854 |
Total Past Due | 200,666 | 215,997 |
Current but Non-Accrual Loans | 195,300 | 201,991 |
Current | 2,800,101 | 2,693,602 |
Total Loans | 3,196,067 | 3,111,590 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 5,112 | 3,825 |
Originated Loan [Member] | Mortgage Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 12,596 | 11,751 |
60 - 89 Days Past Due | 20,503 | 24,339 |
Greater than 90 Days Past Due | 71,179 | 74,841 |
Total Past Due | 104,278 | 110,931 |
Current but Non-Accrual Loans | 4,252 | 5,964 |
Current | 633,387 | 640,933 |
Total Loans | 741,917 | 757,828 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 5,112 | 3,825 |
Originated Loan [Member] | Traditional loan | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 2,698 | 1,793 |
60 - 89 Days Past Due | 12,991 | 16,475 |
Greater than 90 Days Past Due | 41,855 | 46,823 |
Total Past Due | 57,544 | 65,091 |
Current but Non-Accrual Loans | 383 | 358 |
Current | 544,961 | 552,556 |
Total Loans | 602,888 | 618,005 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 1,342 | 742 |
Originated Loan [Member] | Originated Up To The Year 2002 [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 260 | 80 |
60 - 89 Days Past Due | 2,024 | 2,217 |
Greater than 90 Days Past Due | 2,973 | 3,889 |
Total Past Due | 5,257 | 6,186 |
Current but Non-Accrual Loans | 0 | 41 |
Current | 48,801 | 51,562 |
Total Loans | 54,058 | 57,789 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 227 | 144 |
Originated Loan [Member] | Originated In The Years 2003 And 2004 [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 343 | 251 |
60 - 89 Days Past Due | 3,936 | 5,036 |
Greater than 90 Days Past Due | 6,201 | 5,536 |
Total Past Due | 10,480 | 10,823 |
Current but Non-Accrual Loans | 65 | 0 |
Current | 84,208 | 88,623 |
Total Loans | 94,753 | 99,446 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Originated In The Year 2005 [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 0 | 79 |
60 - 89 Days Past Due | 1,878 | 2,553 |
Greater than 90 Days Past Due | 3,826 | 3,549 |
Total Past Due | 5,704 | 6,181 |
Current but Non-Accrual Loans | 64 | 0 |
Current | 46,293 | 48,040 |
Total Loans | 52,061 | 54,221 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Originated In The Year 2006 [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 743 | 551 |
60 - 89 Days Past Due | 2,243 | 2,878 |
Greater than 90 Days Past Due | 6,741 | 7,934 |
Total Past Due | 9,727 | 11,363 |
Current but Non-Accrual Loans | 50 | 176 |
Current | 64,109 | 66,864 |
Total Loans | 73,886 | 78,403 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Originated In The Years 2007 2008 And 2009 [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 854 | 170 |
60 - 89 Days Past Due | 1,414 | 2,053 |
Greater than 90 Days Past Due | 11,793 | 14,733 |
Total Past Due | 14,061 | 16,956 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 69,957 | 74,590 |
Total Loans | 84,018 | 91,546 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 699 | 526 |
Originated Loan [Member] | Originated In The Years 2010 2011 2012 2013 [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 498 | 662 |
60 - 89 Days Past Due | 1,307 | 1,673 |
Greater than 90 Days Past Due | 9,420 | 10,519 |
Total Past Due | 11,225 | 12,854 |
Current but Non-Accrual Loans | 142 | 141 |
Current | 133,384 | 137,749 |
Total Loans | 144,751 | 150,744 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 416 | 72 |
Originated Loan [Member] | Originated In Years 2014, 2015 and 2016 [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 189 | 65 |
Greater than 90 Days Past Due | 901 | 663 |
Total Past Due | 1,090 | 728 |
Current but Non-Accrual Loans | 62 | 0 |
Current | 98,209 | 85,128 |
Total Loans | 99,361 | 85,856 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | NonTraditional Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 938 | 977 |
Greater than 90 Days Past Due | 5,217 | 5,079 |
Total Past Due | 6,155 | 6,056 |
Current but Non-Accrual Loans | 12 | 13 |
Current | 20,028 | 23,483 |
Total Loans | 26,195 | 29,552 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Loss Mitigation Program [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 9,898 | 9,958 |
60 - 89 Days Past Due | 6,574 | 6,887 |
Greater than 90 Days Past Due | 15,738 | 14,930 |
Total Past Due | 32,210 | 31,775 |
Current but Non-Accrual Loans | 3,857 | 5,593 |
Current | 68,014 | 64,548 |
Total Loans | 104,081 | 101,916 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 3,770 | 3,083 |
Originated Loan [Member] | Home equity secured personal loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 0 | 64 |
Total Past Due | 0 | 64 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 384 | 346 |
Total Loans | 384 | 410 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated 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 |
Greater than 90 Days Past Due | 8,369 | 7,945 |
Total Past Due | 8,369 | 7,945 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 0 | 0 |
Total Loans | 8,369 | 7,945 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 3,005 | 2,593 |
60 - 89 Days Past Due | 1,918 | 1,868 |
Greater than 90 Days Past Due | 15,082 | 16,677 |
Total Past Due | 20,005 | 21,138 |
Current but Non-Accrual Loans | 190,158 | 195,545 |
Current | 1,266,450 | 1,224,966 |
Total Loans | 1,476,613 | 1,441,649 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 96 | 2,073 |
60 - 89 Days Past Due | 1,351 | 1,178 |
Greater than 90 Days Past Due | 14,460 | 16,034 |
Total Past Due | 15,907 | 19,285 |
Current but Non-Accrual Loans | 5,582 | 2,907 |
Current | 722,337 | 706,764 |
Total Loans | 743,826 | 728,956 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated 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 |
Greater than 90 Days Past Due | 0 | 0 |
Total Past Due | 0 | 0 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 230,296 | 227,557 |
Total Loans | 230,296 | 227,557 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Institutional Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 0 | 213 |
60 - 89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 0 | 0 |
Total Past Due | 0 | 213 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 27,838 | 33,594 |
Total Loans | 27,838 | 33,807 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Middle Market Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 0 | 1,174 |
60 - 89 Days Past Due | 125 | 712 |
Greater than 90 Days Past Due | 8,589 | 9,113 |
Total Past Due | 8,714 | 10,999 |
Current but Non-Accrual Loans | 2,255 | 1,730 |
Current | 209,127 | 194,219 |
Total Loans | 220,096 | 206,948 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Retail Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 96 | 686 |
60 - 89 Days Past Due | 1,226 | 466 |
Greater than 90 Days Past Due | 5,871 | 6,921 |
Total Past Due | 7,193 | 8,073 |
Current but Non-Accrual Loans | 3,327 | 1,177 |
Current | 236,171 | 231,840 |
Total Loans | 246,691 | 241,090 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated 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 |
Greater than 90 Days Past Due | 0 | 0 |
Total Past Due | 0 | 0 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 2,826 | 2,892 |
Total Loans | 2,826 | 2,892 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated 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 |
Greater than 90 Days Past Due | 0 | 0 |
Total Past Due | 0 | 0 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 16,079 | 16,662 |
Total Loans | 16,079 | 16,662 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Other Commercial and Industrial[Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 2,909 | 520 |
60 - 89 Days Past Due | 567 | 690 |
Greater than 90 Days Past Due | 622 | 643 |
Total Past Due | 4,098 | 1,853 |
Current but Non-Accrual Loans | 184,576 | 192,638 |
Current | 544,113 | 518,202 |
Total Loans | 732,787 | 712,693 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated 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 |
Greater than 90 Days Past Due | 0 | 0 |
Total Past Due | 0 | 0 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 140,192 | 108,582 |
Total Loans | 140,192 | 108,582 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated 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 |
Greater than 90 Days Past Due | 0 | 0 |
Total Past Due | 0 | 0 |
Current but Non-Accrual Loans | 183,020 | 190,290 |
Current | 193,258 | 190,695 |
Total Loans | 376,278 | 380,985 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Middle Market Other Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 2,007 | 0 |
60 - 89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 0 | 0 |
Total Past Due | 2,007 | 0 |
Current but Non-Accrual Loans | 1,421 | 1,565 |
Current | 102,112 | 105,748 |
Total Loans | 105,540 | 107,313 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Retail Other Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 896 | 282 |
60 - 89 Days Past Due | 529 | 639 |
Greater than 90 Days Past Due | 582 | 604 |
Total Past Due | 2,007 | 1,525 |
Current but Non-Accrual Loans | 135 | 783 |
Current | 74,823 | 75,489 |
Total Loans | 76,965 | 77,797 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Floor Plan Other Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 6 | 238 |
60 - 89 Days Past Due | 38 | 51 |
Greater than 90 Days Past Due | 40 | 39 |
Total Past Due | 84 | 328 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 33,728 | 37,688 |
Total Loans | 33,812 | 38,016 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Consumer Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 2,433 | 2,750 |
60 - 89 Days Past Due | 1,332 | 1,378 |
Greater than 90 Days Past Due | 1,425 | 1,043 |
Total Past Due | 5,190 | 5,171 |
Current but Non-Accrual Loans | 875 | 433 |
Current | 259,204 | 237,346 |
Total Loans | 265,269 | 242,950 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Credit Cards [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 459 | 449 |
60 - 89 Days Past Due | 177 | 182 |
Greater than 90 Days Past Due | 432 | 369 |
Total Past Due | 1,068 | 1,000 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 23,809 | 21,766 |
Total Loans | 24,877 | 22,766 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Overdrafts [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 15 | 24 |
60 - 89 Days Past Due | 1 | 0 |
Greater than 90 Days Past Due | 0 | 0 |
Total Past Due | 16 | 24 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 204 | 166 |
Total Loans | 220 | 190 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Unsecured personal lines of credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 42 | 74 |
60 - 89 Days Past Due | 14 | 0 |
Greater than 90 Days Past Due | 94 | 45 |
Total Past Due | 150 | 119 |
Current but Non-Accrual Loans | 0 | 19 |
Current | 2,281 | 2,106 |
Total Loans | 2,431 | 2,244 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Unsecured personal loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 1,854 | 2,078 |
60 - 89 Days Past Due | 1,137 | 1,179 |
Greater than 90 Days Past Due | 898 | 627 |
Total Past Due | 3,889 | 3,884 |
Current but Non-Accrual Loans | 875 | 414 |
Current | 216,884 | 196,858 |
Total Loans | 221,648 | 201,156 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Cash collateral personal loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 63 | 125 |
60 - 89 Days Past Due | 3 | 17 |
Greater than 90 Days Past Due | 1 | 2 |
Total Past Due | 67 | 144 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 16,026 | 16,450 |
Total Loans | 16,093 | 16,594 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Auto and Leasing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 44,433 | 53,566 |
60 - 89 Days Past Due | 19,438 | 16,898 |
Greater than 90 Days Past Due | 7,322 | 8,293 |
Total Past Due | 71,193 | 78,757 |
Current but Non-Accrual Loans | 15 | 49 |
Current | 641,060 | 590,357 |
Total Loans | 712,268 | 669,163 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 5,972 | 8,683 |
60 - 89 Days Past Due | 2,517 | 2,721 |
Greater than 90 Days Past Due | 2,096 | 2,246 |
Total Past Due | 10,585 | 13,650 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 106,286 | 139,103 |
Total Loans | 116,871 | 152,753 |
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 | 37 | 186 |
60 - 89 Days Past Due | 17 | 29 |
Greater than 90 Days Past Due | 770 | 880 |
Total Past Due | 824 | 1,095 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 3,735 | 6,362 |
Total Loans | 4,559 | 7,457 |
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 | 0 |
Greater than 90 Days Past Due | 643 | 695 |
Total Past Due | 643 | 695 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 2,309 | 2,422 |
Total Loans | 2,952 | 3,117 |
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 |
Greater than 90 Days Past Due | 197 | 228 |
Total Past Due | 197 | 228 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 0 | 0 |
Total Loans | 197 | 228 |
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 | 0 |
Greater than 90 Days Past Due | 446 | 467 |
Total Past Due | 446 | 467 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 2,309 | 2,422 |
Total Loans | 2,755 | 2,889 |
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 | 37 | 186 |
60 - 89 Days Past Due | 17 | 29 |
Greater than 90 Days Past Due | 127 | 185 |
Total Past Due | 181 | 400 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 1,426 | 3,940 |
Total Loans | 1,607 | 4,340 |
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 | 37 | 186 |
60 - 89 Days Past Due | 17 | 29 |
Greater than 90 Days Past Due | 120 | 178 |
Total Past Due | 174 | 393 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 1,426 | 3,331 |
Total Loans | 1,600 | 3,724 |
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 | 0 |
60 - 89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 7 | 7 |
Total Past Due | 7 | 7 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 0 | 609 |
Total Loans | 7 | 616 |
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 | 847 | 944 |
60 - 89 Days Past Due | 304 | 413 |
Greater than 90 Days Past Due | 764 | 535 |
Total Past Due | 1,915 | 1,892 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 33,279 | 36,493 |
Total Loans | 35,194 | 38,385 |
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 | 731 | 930 |
60 - 89 Days Past Due | 290 | 384 |
Greater than 90 Days Past Due | 704 | 489 |
Total Past Due | 1,725 | 1,803 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 30,573 | 33,414 |
Total Loans | 32,298 | 35,217 |
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 | 116 | 14 |
60 - 89 Days Past Due | 14 | 29 |
Greater than 90 Days Past Due | 60 | 46 |
Total Past Due | 190 | 89 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 2,706 | 3,079 |
Total Loans | 2,896 | 3,168 |
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 | 5,088 | 7,553 |
60 - 89 Days Past Due | 2,196 | 2,279 |
Greater than 90 Days Past Due | 562 | 831 |
Total Past Due | 7,846 | 10,663 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 69,272 | 96,248 |
Total Loans | 77,118 | 106,911 |
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 | Jun. 30, 2016 | Dec. 31, 2015 |
Accounts Notes And Loans Receivable Line Items | ||
Financing Receivable Acquired With Deteriorated Credit Quality | $ 1,788,121 | $ 1,945,098 |
Non-acretable discount | 394,500 | 434,190 |
Cash expected to be collected | 1,393,621 | 1,510,908 |
Accretable Yield | 355,118 | 361,688 |
Carrying amount, gross | 1,038,503 | 1,149,220 |
Allowance for loan and lease losses | 22,801 | 25,785 |
Carrying amount, net | $ 1,015,702 | $ 1,123,435 |
Loans Receivable (Accretable yi
Loans Receivable (Accretable yield and non-accretable discount activity) (Details) - Acquired under ASC 310-30 Non-Covered Loans [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | $ 340,663 | $ 414,030 | $ 361,688 | $ 445,946 |
Accretion Accretable | 19,359 | 28,003 | 40,523 | 59,473 |
Change in expected cash flow | 3,283 | 33,562 | 3,612 | 33,562 |
Transfer from (to) non-accretable discount | 30,531 | (7,541) | 30,341 | (7,987) |
Balance at end of period | 355,118 | 412,048 | 355,118 | 412,048 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 428,976 | 450,511 | 394,500 | 456,627 |
Change in actual and expected losses | (3,945) | (8,135) | (9,349) | (14,697) |
Transfer (to) from accretable yield | (30,531) | 7,541 | (30,341) | 7,987 |
Balance at end of period | 394,500 | 449,917 | 394,500 | 449,917 |
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 | 260,557 | 284,612 | 268,794 | 298,364 |
Accretion Accretable | 8,294 | 8,813 | 16,601 | 17,800 |
Change in expected cash flow | 0 | 0 | 0 | 0 |
Transfer from (to) non-accretable discount | 31,560 | 81 | 31,630 | (4,684) |
Balance at end of period | 283,823 | 275,880 | 283,823 | 275,880 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 370,155 | 392,609 | 336,153 | 389,839 |
Change in actual and expected losses | (2,442) | (3,421) | (6,989) | (5,416) |
Transfer (to) from accretable yield | (31,560) | (81) | (31,630) | 4,684 |
Balance at end of period | 336,153 | 389,107 | 336,153 | 389,107 |
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 | 40,102 | 57,330 | 45,411 | 61,196 |
Accretion Accretable | 5,272 | 9,597 | 11,111 | 20,356 |
Change in expected cash flow | 3,062 | 23,695 | 3,190 | 23,695 |
Transfer from (to) non-accretable discount | (833) | 135 | (431) | 7,028 |
Balance at end of period | 37,059 | 71,563 | 37,059 | 71,563 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 10,716 | 15,826 | 10,582 | 23,069 |
Change in actual and expected losses | (967) | (4,921) | (1,630) | (5,271) |
Transfer (to) from accretable yield | 833 | (135) | 431 | (7,028) |
Balance at end of period | 10,582 | 10,770 | 10,582 | 10,770 |
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 | 17,156 | 19,390 | 19,615 | 25,829 |
Accretion Accretable | 1,307 | 2,143 | 3,176 | 5,953 |
Change in expected cash flow | (408) | 9,867 | (208) | 9,867 |
Transfer from (to) non-accretable discount | (193) | (2,501) | (983) | (5,130) |
Balance at end of period | 15,248 | 24,613 | 15,248 | 24,613 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 7,432 | 3,957 | 7,419 | 3,486 |
Change in actual and expected losses | (206) | 536 | (328) | (1,622) |
Transfer (to) from accretable yield | 193 | 2,501 | 983 | 5,130 |
Balance at end of period | 7,419 | 6,994 | 7,419 | 6,994 |
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 | 17,587 | 47,097 | 21,578 | 53,998 |
Accretion Accretable | 3,616 | 6,163 | 7,827 | 13,151 |
Change in expected cash flow | 630 | 0 | 631 | 0 |
Transfer from (to) non-accretable discount | (498) | (9,403) | (279) | (9,316) |
Balance at end of period | 14,103 | 31,531 | 14,103 | 31,531 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 21,938 | 14,543 | 22,121 | 16,215 |
Change in actual and expected losses | (315) | (256) | (197) | (1,841) |
Transfer (to) from accretable yield | 498 | 9,403 | 279 | 9,316 |
Balance at end of period | 22,121 | 23,690 | 22,121 | 23,690 |
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 | 5,261 | 5,601 | 6,290 | 6,559 |
Accretion Accretable | 870 | 1,287 | 1,808 | 2,213 |
Change in expected cash flow | (1) | 0 | (1) | 0 |
Transfer from (to) non-accretable discount | 495 | 4,147 | 404 | 4,115 |
Balance at end of period | 4,885 | 8,461 | 4,885 | 8,461 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 18,735 | 23,576 | 18,225 | 24,018 |
Change in actual and expected losses | (15) | (73) | (205) | (547) |
Transfer (to) from accretable yield | (495) | (4,147) | (404) | (4,115) |
Balance at end of period | $ 18,225 | $ 19,356 | $ 18,225 | $ 19,356 |
Loans Receivable (Eurobank Acqu
Loans Receivable (Eurobank Acquired Loan carrying amounts) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Accounts Notes And Loans Receivable Line Items | ||
Financing Receivable Acquired With Deteriorated Credit Quality | $ 1,788,121 | $ 1,945,098 |
Non-acretable discount | 394,500 | 434,190 |
Cash expected to be collected | 1,393,621 | 1,510,908 |
Accretable Yield | 355,118 | 361,688 |
Carrying amount, gross | 1,038,503 | 1,149,220 |
Carrying amount, net | 1,015,702 | 1,123,435 |
Eurobank Acquired Loans | ||
Accounts Notes And Loans Receivable Line Items | ||
Financing Receivable Acquired With Deteriorated Credit Quality | 252,801 | 342,511 |
Non-acretable discount | 11,555 | 21,156 |
Cash expected to be collected | 241,246 | 321,355 |
Accretable Yield | 79,682 | 84,391 |
Carrying amount, gross | 161,564 | 236,964 |
Financing Receivable, Allowance for Credit Losses | 22,116 | 90,178 |
Carrying amount, net | $ 139,448 | $ 146,786 |
Loans Receivable (Accretable 63
Loans Receivable (Accretable yield and non-accretable discount activity of covered loans) (Details) - Acquired Loans In An F D I C Assisted Transaction [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | $ 86,227 | $ 116,288 | $ 84,392 | $ 109,859 |
Accretion Accretable | 6,898 | 12,758 | 14,458 | 28,262 |
Change in expected cash flow | 1,425 | 11,451 | 0 | |
Transfer from (to) non-accretable discount | (1,072) | 1,111 | (1,703) | 23,044 |
Balance at end of period | 79,682 | 104,641 | 79,682 | 104,641 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 12,703 | 32,712 | 21,156 | 62,410 |
Change in actual and expected losses | (2,220) | (10,469) | (11,304) | (18,234) |
Transfer (to) from accretable yield | 1,072 | (1,111) | 1,703 | (23,044) |
Balance at end of period | 11,555 | 21,132 | 11,555 | 21,132 |
Mortgage | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 50,787 | 58,332 | 51,954 | 47,636 |
Accretion Accretable | 2,263 | 3,276 | 4,529 | 6,794 |
Change in expected cash flow | (198) | 786 | 0 | |
Transfer from (to) non-accretable discount | 10 | 750 | 125 | 14,964 |
Balance at end of period | 48,336 | 55,806 | 48,336 | 55,806 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 12,703 | 12,557 | 12,869 | 27,348 |
Change in actual and expected losses | (1,138) | (405) | (1,189) | (982) |
Transfer (to) from accretable yield | (10) | (750) | (125) | (14,964) |
Balance at end of period | 11,555 | 11,402 | 11,555 | 11,402 |
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 | 33,203 | 33,481 | 26,970 | 37,919 |
Accretion Accretable | 4,528 | 8,047 | 8,623 | 17,902 |
Change in expected cash flow | 1,619 | 12,712 | 0 | |
Transfer from (to) non-accretable discount | (1,152) | 2,039 | (1,917) | 7,456 |
Balance at end of period | 29,142 | 27,473 | 29,142 | 27,473 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 0 | 10,493 | 0 | 24,464 |
Change in actual and expected losses | (1,152) | (8,454) | (1,917) | (17,008) |
Transfer (to) from accretable yield | 1,152 | (2,039) | 1,917 | (7,456) |
Balance at end of period | 0 | 0 | 0 | 0 |
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 | 2,237 | 20,806 | 2,255 | 20,753 |
Accretion Accretable | 33 | 405 | 47 | 1,024 |
Change in expected cash flow | 0 | (23) | 0 | |
Transfer from (to) non-accretable discount | 0 | (2,052) | 19 | (1,380) |
Balance at end of period | 2,204 | 18,349 | 2,204 | 18,349 |
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 | 0 | (2,052) | 19 | (1,380) |
Transfer (to) from accretable yield | 0 | 2,052 | (19) | 1,380 |
Balance at end of period | 0 | 0 | 0 | 0 |
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 | 0 | 1,665 | 0 | 2,479 |
Accretion Accretable | 2 | 937 | 2 | 2,329 |
Change in expected cash flow | (77) | (77) | 0 | |
Transfer from (to) non-accretable discount | 75 | 375 | 75 | 953 |
Balance at end of period | 0 | 1,103 | 0 | 1,103 |
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 | 75 | 375 | 75 | 953 |
Transfer (to) from accretable yield | (75) | (375) | (75) | (953) |
Balance at end of period | 0 | 0 | 0 | 0 |
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 | 0 | 2,004 | 3,213 | 1,072 |
Accretion Accretable | 76 | 93 | 1,261 | 213 |
Change in expected cash flow | 81 | (1,947) | 0 | |
Transfer from (to) non-accretable discount | (5) | (1) | (5) | 1,051 |
Balance at end of period | 0 | 1,910 | 0 | 1,910 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 0 | 9,662 | 8,287 | 10,598 |
Change in actual and expected losses | (5) | 67 | (8,292) | 183 |
Transfer (to) from accretable yield | 5 | 1 | 5 | (1,051) |
Balance at end of period | $ 0 | $ 9,730 | $ 0 | $ 9,730 |
Loans Receivable (Investment in
Loans Receivable (Investment in loans on non-accrual status) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 285,299 | $ 300,119 |
Originated Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 283,203 | 297,873 |
Originated Loan [Member] | Mortgage Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 65,759 | 72,479 |
Originated Loan [Member] | Traditional loan | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 41,761 | 47,215 |
Originated Loan [Member] | Originated Up To The Year 2002 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,812 | 3,786 |
Originated Loan [Member] | Originated In The Years 2003 And 2004 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 6,359 | 5,737 |
Originated Loan [Member] | Originated In The Year 2005 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 3,889 | 3,627 |
Originated Loan [Member] | Originated In The Year 2006 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 7,135 | 8,189 |
Originated Loan [Member] | Originated In The Years 2007 2008 And 2009 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 11,292 | 14,625 |
Originated Loan [Member] | Originated In The Years 2010 2011 2012 2013 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 9,311 | 10,588 |
Originated Loan [Member] | Originated In Years 2014, 2015 and 2016 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 963 | 663 |
Originated Loan [Member] | NonTraditional Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 5,229 | 5,092 |
Originated Loan [Member] | Loss Mitigation Program [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 18,769 | 20,172 |
Originated Loan [Member] | Home equity secured personal loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | 64 |
Originated Loan [Member] | Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 207,768 | 215,281 |
Originated Loan [Member] | Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 21,321 | 21,455 |
Originated Loan [Member] | Middle Market Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 10,969 | 12,729 |
Originated Loan [Member] | Retail Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 10,352 | 8,726 |
Originated Loan [Member] | Other Commercial and Industrial[Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 186,447 | 193,826 |
Originated Loan [Member] | Corporate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 183,020 | 190,290 |
Originated Loan [Member] | Middle Market Other Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,421 | 1,565 |
Originated Loan [Member] | Retail Other Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,966 | 1,932 |
Originated Loan [Member] | Floor Plan Other Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 40 | 39 |
Originated Loan [Member] | Consumer Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,339 | 1,631 |
Originated Loan [Member] | Credit Cards [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 432 | 369 |
Originated Loan [Member] | Unsecured personal lines of credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 94 | 100 |
Originated Loan [Member] | Unsecured personal loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,812 | 1,146 |
Originated Loan [Member] | Cash collateral personal loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1 | 16 |
Originated Loan [Member] | Auto and Leasing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 7,337 | 8,418 |
Most recent acquired loans accounted for under ASC 310-20 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,096 | 2,246 |
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 | 770 | 880 |
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 | 643 | 695 |
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 | 197 | 228 |
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 | 446 | 467 |
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 | 127 | 185 |
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 | 120 | 178 |
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 | 7 | 7 |
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 | 764 | 535 |
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 | 704 | 489 |
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 | 60 | 46 |
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 | $ 562 | $ 831 |
Loans Receivable (Recorded Inve
Loans Receivable (Recorded Investment in loans individually evaluated for impairment) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
Financing Receivable, Impaired [Line Items] | ||
Allowance for loan and lease losses | $ 162,216 | $ 234,131 |
Originated Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | 342,249 | 350,252 |
Recorded Investment | 308,908 | 325,267 |
Allowance for loan and lease losses | $ 65,622 | $ 65,180 |
Coverage | 21.00% | 20.00% |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 1,450 | $ 486 |
Recorded Investment | 1,433 | 474 |
Acquired BBVAPR Accounted under ASC 310-30 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | 1,030,886 | 1,137,377 |
Recorded Investment | 938,505 | 1,017,976 |
Allowance for loan and lease losses | $ 22,801 | $ 25,785 |
Coverage | 2.00% | 3.00% |
Eurobank Acquired Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 211,939 | $ 241,305 |
Recorded Investment | 161,564 | 236,964 |
Allowance for loan and lease losses | $ 22,116 | $ 90,178 |
Coverage | 14.00% | 38.00% |
Commercial impaired loans with specific allowance [Member] | Originated Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 212,876 | $ 210,718 |
Recorded Investment | 194,084 | 199,366 |
Allowance for loan and lease losses | $ 56,758 | $ 55,947 |
Coverage | 29.00% | 28.00% |
Residential troubled-debt restructuring impaired loans with specific allowance [Member] | Originated Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 99,145 | $ 97,424 |
Recorded Investment | 90,948 | 89,973 |
Allowance for loan and lease losses | $ 8,864 | $ 9,233 |
Coverage | 10.00% | 10.00% |
Commercial impaired loans with no specific allowance financing receivable | Originated Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 30,228 | $ 42,110 |
Recorded Investment | 23,876 | 35,928 |
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 | 1,450 | 486 |
Recorded Investment | 1,433 | 474 |
Mortgage impaired loan pool [Member] | Acquired BBVAPR Accounted under ASC 310-30 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | 591,029 | 608,294 |
Recorded Investment | 591,056 | 608,294 |
Allowance for loan and lease losses | $ 1,585 | $ 1,761 |
Coverage | 0.00% | 0.00% |
Commercial impaired loan pool [Member] | Acquired BBVAPR Accounted under ASC 310-30 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 246,142 | $ 287,311 |
Recorded Investment | 173,949 | 168,107 |
Allowance for loan and lease losses | $ 11,884 | $ 15,455 |
Coverage | 7.00% | 9.00% |
Construction impaired loan pool [Member] | Acquired BBVAPR Accounted under ASC 310-30 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 76,677 | $ 88,180 |
Recorded Investment | 56,457 | 87,983 |
Allowance for loan and lease losses | $ 3,979 | $ 5,707 |
Coverage | 7.00% | 6.00% |
Auto impaired loan pool. | Acquired BBVAPR Accounted under ASC 310-30 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 117,038 | $ 153,592 |
Recorded Investment | 117,043 | 153,592 |
Allowance for loan and lease losses | $ 5,353 | $ 2,862 |
Coverage | 5.00% | 2.00% |
Consumer impaired loan pool. | Eurobank Acquired Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 1,252 | $ 6,713 |
Recorded Investment | 1,410 | 2,314 |
Allowance for loan and lease losses | $ 4 | $ 243 |
Coverage | 0.00% | 11.00% |
Loans secured by 1-4 family residential properties, covered [Member] | Eurobank Acquired Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 95,755 | $ 101,444 |
Recorded Investment | 76,777 | 92,273 |
Allowance for loan and lease losses | $ 11,016 | $ 22,570 |
Coverage | 14.00% | 24.00% |
Commercial and Other Construction Loan [Member] | Eurobank Acquired Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 114,932 | $ 133,148 |
Recorded Investment | 83,377 | 142,377 |
Allowance for loan and lease losses | $ 11,096 | $ 67,365 |
Coverage | 13.00% | 47.00% |
Loans Receivable (Interest Inco
Loans Receivable (Interest Income Recognized in loans individually evaluated for impairment) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Impaired Financing Receivable Interest Income Accrual Method [Abstract] | ||||
Total Interest Income | $ 1,030 | $ 1,153 | $ 2,069 | $ 2,305 |
Impaired Financing Receivable Average Recorded Investment [Abstract] | ||||
Total Average Recorded Investment | 316,134 | 332,916 | 318,658 | 335,074 |
Commercial Loan [Member] | Originated Loans [Member] | ||||
Impaired Financing Receivable Interest Income Accrual Method [Abstract] | ||||
Impaired Financing Receivable With Related Allowance Interest Income Accrual Method | 75 | 45 | 150 | 90 |
Impaired Financing Receivable With No Related Allowance Interest Income Accrual Method | 149 | 316 | 298 | 631 |
Impaired Financing Receivable Average Recorded Investment [Abstract] | ||||
Impaired Financing Receivable With Related Allowance Average Recorded Investment | 194,759 | 212,414 | 195,777 | 146,144 |
Impaired Financing Receivable With No Related Allowance Average Recorded Investment | 29,579 | 30,015 | 31,603 | 95,791 |
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 | 15 | 11 | 30 | 21 |
Impaired Financing Receivable Average Recorded Investment [Abstract] | ||||
Impaired Financing Receivable With No Related Allowance Average Recorded Investment | 789 | 1,446 | 628 | 1,923 |
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 | 791 | 781 | 1,591 | 1,563 |
Impaired Financing Receivable Average Recorded Investment [Abstract] | ||||
Impaired Financing Receivable With Related Allowance Average Recorded Investment | $ 91,007 | $ 89,041 | $ 90,650 | $ 91,216 |
Loans Receivable (TDR Pre_Post
Loans Receivable (TDR Pre/Post Modifications) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016USD ($)number | Jun. 30, 2015USD ($)number | Mar. 31, 2015USD ($)number | Jun. 30, 2016USD ($)number | Jun. 30, 2015 | |
Mortgage Loan [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of contracts | number | 19 | 39 | 97 | 52 | |
Financing Receivable Modifications Pre Modification Recorded Investment | $ 2,670 | $ 4,455 | $ 11,609 | $ 6,628 | |
Pre Modification Weighted Average Rate | 5.69% | 5.62% | 4.65% | 5.90% | |
Pre Modification Weighted Average Term | 372 months | 330 months | 365 months | 348 months | |
Financing Receivable Modifications Post Modification Recorded Investment | $ 2,670 | $ 4,455 | $ 11,594 | $ 7,525 | |
Post Modification Weighted Average Rate | 4.54% | 4.21% | 4.13% | 4.73% | |
Post Modification Weighted Average Term | 494 months | 330 months | 493 months | 349 months | |
Commercial Loan [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of contracts | number | 6 | 1 | 4 | 8 | |
Financing Receivable Modifications Pre Modification Recorded Investment | $ 668 | $ 29 | $ 4,533 | $ 1,323 | |
Pre Modification Weighted Average Rate | 6.65% | 7.25% | 6.83% | 6.73% | |
Pre Modification Weighted Average Term | 65 months | 44 months | 53 months | ||
Financing Receivable Modifications Post Modification Recorded Investment | $ 668 | $ 29 | $ 4,533 | $ 1,324 | |
Post Modification Weighted Average Rate | 5.91% | 6.50% | 7.00% | 6.31% | |
Post Modification Weighted Average Term | 86 months | 60 months | 61 months | 141 months | |
Consumer Loan [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of contracts | number | 26 | 21 | 32 | 47 | |
Financing Receivable Modifications Pre Modification Recorded Investment | $ 364 | $ 250 | $ 396 | $ 556 | |
Pre Modification Weighted Average Rate | 12.73% | 14.40% | 14.50% | 13.27% | |
Pre Modification Weighted Average Term | 75 months | 71 months | 75 months | 72 months | |
Financing Receivable Modifications Post Modification Recorded Investment | $ 372 | $ 259 | $ 440 | $ 603 | |
Post Modification Weighted Average Rate | 10.20% | 13.87% | 14.25% | 10.56% | |
Post Modification Weighted Average Term | 70 months | 69 months | 71 months | 68 months |
Loans Receivable (Troubled debt
Loans Receivable (Troubled debt restructurings, Rolling Twelve Months) (Details) $ in Thousands | 12 Months Ended | |
Jun. 30, 2016USD ($)number | Jun. 30, 2015USD ($)number | |
Mortgage Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | number | 84 | 60 |
Recored Investment | $ | $ 9,869 | $ 6,911 |
Consumer Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | number | 7 | 4 |
Recored Investment | $ | $ 134 | $ 72 |
Auto [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | number | 1 | 0 |
Recored Investment | $ | $ 17 | $ 0 |
Loans Receivable (Credit Qualit
Loans Receivable (Credit Quality Indicator of loans) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 4,513,005 | $ 4,650,527 |
Financing Receivable, Individually Evaluated for Impairment | 219,393 | 235,767 |
Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 3,196,067 | 3,111,590 |
Doubtful | 0 | |
Financing Receivable, Individually Evaluated for Impairment | 308,908 | 325,267 |
Commercial Secured [Member] | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 743,826 | 728,956 |
Pass | 671,931 | 657,623 |
Special Mention | 40,149 | 32,780 |
Substandard | 4,502 | 5,097 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 27,244 | 33,456 |
Commercial Secured [Member] | Commercial Acquired loans (under ASC 310-20) [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 2,952 | 3,117 |
Pass | 953 | 602 |
Special Mention | 376 | 1,820 |
Substandard | 197 | 228 |
Doubtful | 0 | |
Financing Receivable, Individually Evaluated for Impairment | 1,426 | 467 |
Corporate | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 230,296 | 227,557 |
Pass | 215,312 | 212,410 |
Special Mention | 14,984 | 15,147 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Institutional | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 27,838 | 33,807 |
Pass | 26,200 | 25,907 |
Special Mention | 0 | 0 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 1,638 | 7,900 |
Middle Market | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 220,096 | 206,948 |
Pass | 188,700 | 181,916 |
Special Mention | 17,697 | 9,697 |
Substandard | 374 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 13,325 | 15,335 |
Retail | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 246,691 | 241,090 |
Pass | 222,814 | 217,836 |
Special Mention | 7,468 | 7,936 |
Substandard | 4,128 | 5,097 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 12,281 | 10,221 |
Retail | Commercial Acquired loans (under ASC 310-20) [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 197 | 228 |
Pass | 0 | 0 |
Special Mention | 0 | 0 |
Substandard | 197 | 228 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Floor Plan | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 2,826 | 2,892 |
Pass | 2,826 | 2,892 |
Special Mention | 0 | 0 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Floor Plan | Commercial Acquired loans (under ASC 310-20) [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 2,755 | 2,889 |
Pass | 953 | 602 |
Special Mention | 376 | 1,820 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 1,426 | 467 |
Real Estate | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 16,079 | 16,662 |
Pass | 16,079 | 16,662 |
Special Mention | 0 | 0 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Other commercial and industrial [Member] | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 732,787 | 712,693 |
Pass | 529,375 | 498,428 |
Special Mention | 11,455 | 11,243 |
Substandard | 1,241 | 1,184 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 190,716 | 201,838 |
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 | 1,607 | 4,340 |
Pass | 1,527 | 4,246 |
Special Mention | 0 | 0 |
Substandard | 73 | 87 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 7 | 7 |
Corporate | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 140,192 | 108,582 |
Pass | 140,192 | 100,826 |
Special Mention | 0 | 0 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 7,756 |
Institutional | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 376,278 | 380,985 |
Pass | 193,258 | 190,695 |
Special Mention | 0 | 0 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 183,020 | 190,290 |
Middle Market | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 105,540 | 107,313 |
Pass | 95,946 | 97,288 |
Special Mention | 5,142 | 8,052 |
Substandard | 181 | 0 |
Doubtful | 0 | |
Financing Receivable, Individually Evaluated for Impairment | 4,271 | 1,973 |
Retail | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 76,965 | 77,797 |
Pass | 71,933 | 73,757 |
Special Mention | 898 | 1,076 |
Substandard | 979 | 1,184 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 3,155 | 1,780 |
Retail | Commercial Acquired loans (under ASC 310-20) [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 1,600 | 3,724 |
Pass | 1,527 | 3,637 |
Special Mention | 0 | 0 |
Substandard | 73 | 87 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Floor Plan | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 33,812 | 38,016 |
Pass | 28,046 | 35,862 |
Special Mention | 5,415 | 2,115 |
Substandard | 81 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 270 | 39 |
Floor Plan | Commercial Acquired loans (under ASC 310-20) [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 7 | 616 |
Pass | 0 | 609 |
Special Mention | 0 | 0 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 7 | 7 |
Commercial and Construction | 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 | 1,481,172 | 1,449,106 |
Pass | 1,203,786 | 1,160,899 |
Special Mention | 51,980 | 45,843 |
Substandard | 6,013 | 6,596 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 219,393 | 235,768 |
Total Commercial subject to risk rating [Member] | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 1,476,613 | 1,441,649 |
Pass | 1,201,306 | 1,156,051 |
Special Mention | 51,604 | 44,023 |
Substandard | 5,743 | 6,281 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 217,960 | 235,294 |
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 | 4,559 | 7,457 |
Pass | 2,480 | 4,848 |
Special Mention | 376 | 1,820 |
Substandard | 270 | 315 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | $ 1,433 | $ 474 |
Loans Receivable (Risk category
Loans Receivable (Risk category of gross loans not subject to risk rating ) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Not Subject To Risk Rating [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 4,513,005 | $ 4,650,527 |
Financing Receivable, Individually Evaluated for Impairment | 219,393 | 235,767 |
Loans, Not Subject To Risk Ratings [Member] | ||
Not Subject To Risk Rating [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 1,831,766 | 1,815,237 |
0 - 29 Days Past Due | 1,577,925 | 1,541,282 |
30 - 59 Days Past Due | 56,716 | 70,443 |
60 - 89 Days Past Due | 38,348 | 39,648 |
90-119 Days Past Due | 14,678 | 14,727 |
120 - 364 Days Past Due | 18,498 | 22,412 |
365+ Days Past Due | 34,653 | 36,752 |
Financing Receivable, Individually Evaluated for Impairment | 90,948 | 89,973 |
Originated loans, not subject to risk rating [Member] | ||
Not Subject To Risk Rating [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 1,719,454 | 1,669,941 |
0 - 29 Days Past Due | 1,475,373 | 1,408,542 |
30 - 59 Days Past Due | 50,781 | 61,946 |
60 - 89 Days Past Due | 35,848 | 36,956 |
90-119 Days Past Due | 13,950 | 13,917 |
120 - 364 Days Past Due | 17,901 | 21,855 |
365+ Days Past Due | 34,653 | 36,752 |
Financing Receivable, Individually Evaluated for Impairment | 90,948 | 89,973 |
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 | 741,917 | 757,828 |
0 - 29 Days Past Due | 574,219 | 580,214 |
30 - 59 Days Past Due | 3,915 | 5,642 |
60 - 89 Days Past Due | 15,078 | 18,811 |
90-119 Days Past Due | 7,335 | 7,390 |
120 - 364 Days Past Due | 15,769 | 19,046 |
365+ Days Past Due | 34,653 | 36,752 |
Financing Receivable, Individually Evaluated for Impairment | 90,948 | 89,973 |
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 | 602,888 | 618,005 |
0 - 29 Days Past Due | 534,930 | 540,340 |
30 - 59 Days Past Due | 2,223 | 1,469 |
60 - 89 Days Past Due | 12,759 | 15,857 |
90-119 Days Past Due | 4,333 | 4,518 |
120 - 364 Days Past Due | 9,236 | 11,055 |
365+ Days Past Due | 24,992 | 29,535 |
Financing Receivable, Individually Evaluated for Impairment | 14,415 | 15,231 |
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 | 54,058 | 57,789 |
0 - 29 Days Past Due | 48,163 | 50,912 |
30 - 59 Days Past Due | 259 | 82 |
60 - 89 Days Past Due | 2,023 | 2,218 |
90-119 Days Past Due | 527 | 530 |
120 - 364 Days Past Due | 1,153 | 1,504 |
365+ Days Past Due | 1,292 | 1,858 |
Financing Receivable, Individually Evaluated for Impairment | 641 | 685 |
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 | 94,753 | 99,446 |
0 - 29 Days Past Due | 82,651 | 87,060 |
30 - 59 Days Past Due | 343 | 251 |
60 - 89 Days Past Due | 3,936 | 4,867 |
90-119 Days Past Due | 1,864 | 1,261 |
120 - 364 Days Past Due | 1,859 | 1,353 |
365+ Days Past Due | 2,312 | 2,921 |
Financing Receivable, Individually Evaluated for Impairment | 1,788 | 1,733 |
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 | 52,061 | 54,221 |
0 - 29 Days Past Due | 45,538 | 47,197 |
30 - 59 Days Past Due | 0 | 79 |
60 - 89 Days Past Due | 1,878 | 2,553 |
90-119 Days Past Due | 497 | 292 |
120 - 364 Days Past Due | 918 | 1,068 |
365+ Days Past Due | 2,410 | 2,189 |
Financing Receivable, Individually Evaluated for Impairment | 820 | 843 |
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 | 73,886 | 78,403 |
0 - 29 Days Past Due | 60,860 | 63,659 |
30 - 59 Days Past Due | 511 | 318 |
60 - 89 Days Past Due | 2,244 | 2,878 |
90-119 Days Past Due | 554 | 1,168 |
120 - 364 Days Past Due | 1,603 | 1,895 |
365+ Days Past Due | 4,584 | 4,871 |
Financing Receivable, Individually Evaluated for Impairment | 3,530 | 3,614 |
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 | 84,018 | 91,546 |
0 - 29 Days Past Due | 66,997 | 71,439 |
30 - 59 Days Past Due | 703 | 170 |
60 - 89 Days Past Due | 1,286 | 1,665 |
90-119 Days Past Due | 569 | 685 |
120 - 364 Days Past Due | 1,724 | 2,972 |
365+ Days Past Due | 8,898 | 10,725 |
Financing Receivable, Individually Evaluated for Impairment | 3,841 | 3,890 |
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 | 144,751 | 150,744 |
0 - 29 Days Past Due | 132,451 | 134,945 |
30 - 59 Days Past Due | 407 | 569 |
60 - 89 Days Past Due | 1,203 | 1,611 |
90-119 Days Past Due | 182 | 434 |
120 - 364 Days Past Due | 1,581 | 1,982 |
365+ Days Past Due | 5,132 | 6,737 |
Financing Receivable, Individually Evaluated for Impairment | 3,795 | 4,466 |
Originated loans, not subject to risk rating [Member] | Originated In Years 2014, 2015 and 2016 [Member] | ||
Not Subject To Risk Rating [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 99,361 | 85,856 |
0 - 29 Days Past Due | 98,270 | 85,128 |
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 189 | 65 |
90-119 Days Past Due | 140 | 148 |
120 - 364 Days Past Due | 398 | 281 |
365+ Days Past Due | 364 | 234 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 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 | 26,195 | 29,552 |
0 - 29 Days Past Due | 20,040 | 23,497 |
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 938 | 977 |
90-119 Days Past Due | 564 | 552 |
120 - 364 Days Past Due | 1,999 | 2,621 |
365+ Days Past Due | 2,654 | 1,905 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
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 | 104,081 | 101,916 |
0 - 29 Days Past Due | 18,865 | 16,031 |
30 - 59 Days Past Due | 1,692 | 4,173 |
60 - 89 Days Past Due | 1,381 | 1,977 |
90-119 Days Past Due | 940 | 727 |
120 - 364 Days Past Due | 1,306 | 1,728 |
365+ Days Past Due | 3,364 | 2,538 |
Financing Receivable, Individually Evaluated for Impairment | 76,533 | 74,742 |
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 | 384 | 410 |
0 - 29 Days Past Due | 384 | 346 |
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 0 | 0 |
90-119 Days Past Due | 0 | 0 |
120 - 364 Days Past Due | 0 | 64 |
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 | 8,369 | 7,945 |
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 | 1,498 | 1,593 |
120 - 364 Days Past Due | 3,228 | 3,578 |
365+ Days Past Due | 3,643 | 2,774 |
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 | 265,269 | 242,950 |
0 - 29 Days Past Due | 260,079 | 237,846 |
30 - 59 Days Past Due | 2,433 | 2,755 |
60 - 89 Days Past Due | 1,332 | 1,306 |
90-119 Days Past Due | 1,123 | 819 |
120 - 364 Days Past Due | 302 | 224 |
365+ Days Past Due | 0 | 0 |
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 | 24,877 | 22,766 |
0 - 29 Days Past Due | 23,809 | 21,766 |
30 - 59 Days Past Due | 459 | 449 |
60 - 89 Days Past Due | 177 | 182 |
90-119 Days Past Due | 214 | 179 |
120 - 364 Days Past Due | 218 | 190 |
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 | 220 | 190 |
0 - 29 Days Past Due | 204 | 166 |
30 - 59 Days Past Due | 15 | 24 |
60 - 89 Days Past Due | 1 | 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 | 2,431 | 2,244 |
0 - 29 Days Past Due | 2,281 | 2,125 |
30 - 59 Days Past Due | 42 | 74 |
60 - 89 Days Past Due | 14 | 0 |
90-119 Days Past Due | 11 | 17 |
120 - 364 Days Past Due | 83 | 28 |
365+ Days Past Due | 0 | 0 |
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 | 221,648 | 201,156 |
0 - 29 Days Past Due | 217,759 | 197,339 |
30 - 59 Days Past Due | 1,854 | 2,083 |
60 - 89 Days Past Due | 1,137 | 1,107 |
90-119 Days Past Due | 898 | 621 |
120 - 364 Days Past Due | 0 | 6 |
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 | 16,093 | 16,594 |
0 - 29 Days Past Due | 16,026 | 16,450 |
30 - 59 Days Past Due | 63 | 125 |
60 - 89 Days Past Due | 3 | 17 |
90-119 Days Past Due | 0 | 2 |
120 - 364 Days Past Due | 1 | 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 | 712,268 | 669,163 |
0 - 29 Days Past Due | 641,075 | 590,482 |
30 - 59 Days Past Due | 44,433 | 53,549 |
60 - 89 Days Past Due | 19,438 | 16,839 |
90-119 Days Past Due | 5,492 | 5,708 |
120 - 364 Days Past Due | 1,830 | 2,585 |
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 | 112,312 | 145,296 |
0 - 29 Days Past Due | 102,552 | 132,740 |
30 - 59 Days Past Due | 5,935 | 8,497 |
60 - 89 Days Past Due | 2,500 | 2,692 |
90-119 Days Past Due | 728 | 810 |
120 - 364 Days Past Due | 597 | 557 |
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 | 35,194 | 38,385 |
0 - 29 Days Past Due | 33,280 | 36,493 |
30 - 59 Days Past Due | 847 | 944 |
60 - 89 Days Past Due | 304 | 413 |
90-119 Days Past Due | 316 | 187 |
120 - 364 Days Past Due | 447 | 348 |
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 | 32,298 | 35,217 |
0 - 29 Days Past Due | 30,573 | 33,414 |
30 - 59 Days Past Due | 731 | 930 |
60 - 89 Days Past Due | 290 | 384 |
90-119 Days Past Due | 290 | 186 |
120 - 364 Days Past Due | 414 | 303 |
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 | 2,896 | 3,168 |
0 - 29 Days Past Due | 2,707 | 3,079 |
30 - 59 Days Past Due | 116 | 14 |
60 - 89 Days Past Due | 14 | 29 |
90-119 Days Past Due | 26 | 1 |
120 - 364 Days Past Due | 33 | 45 |
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 | 77,118 | 106,911 |
0 - 29 Days Past Due | 69,272 | 96,247 |
30 - 59 Days Past Due | 5,088 | 7,553 |
60 - 89 Days Past Due | 2,196 | 2,279 |
90-119 Days Past Due | 412 | 623 |
120 - 364 Days Past Due | 150 | 209 |
365+ Days Past Due | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | $ 0 | $ 0 |
Allowance for Loan and Lease 71
Allowance for Loan and Lease Losses (Narrative) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans And Leases Receivable Allowance, Covered | $ 11,000,000 | $ 11,000,000 | $ 22,600,000 | ||
Provision (recapture) for Loan Losses, Covered | $ 237,000 | $ (105,000) | 184,000 | $ 4,700,000 | |
Allowance de-recognition due to change in policy from most recent acquisition | 8,500,000 | ||||
Allowance de-recognition due to change in policy from loans acquired acquisition | $ 72,200,000 |
Allowance for Loan and Lease 72
Allowance for Loan and Lease Losses (Composition of the Company's allowance for loan and lease losses) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | $ 162,216 | $ 234,131 |
Originated Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 112,812 | 112,626 |
Originated Loan [Member] | Mortgage Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 18,537 | 18,352 |
Originated Loan [Member] | Commercial Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 63,144 | 64,791 |
Originated Loan [Member] | Consumer Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 11,771 | 11,197 |
Originated Loan [Member] | Auto and Leasing [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 19,259 | 18,261 |
Originated Loan [Member] | Unallocated [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 101 | 25 |
Acquired loans [Member] | Acquired BBVAPR loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 27,288 | 31,327 |
Acquired loans [Member] | Acquired BBVAPR loans [Member] | Mortgage Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 1,585 | 1,762 |
Acquired loans [Member] | Acquired BBVAPR loans [Member] | Commercial Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 15,884 | 21,187 |
Acquired loans [Member] | Acquired BBVAPR loans [Member] | Consumer Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 3,002 | 3,429 |
Acquired loans [Member] | Acquired BBVAPR loans [Member] | Auto Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 6,817 | 4,949 |
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 | 4,487 | 5,542 |
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 | 21 | 26 |
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 | 3,002 | 3,429 |
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 | 1,464 | 2,087 |
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 | 22,801 | 25,785 |
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 | 1,585 | 1,762 |
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 | 15,863 | 21,161 |
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 | 5,353 | 2,862 |
Acquired loans [Member] | Eurobank Acquired Loans | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 22,116 | 90,178 |
Acquired loans [Member] | Eurobank Acquired Loans | Consumer Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 4 | 243 |
Acquired loans [Member] | 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 | 11,016 | 22,570 |
Acquired loans [Member] | Eurobank Acquired Loans | Commercial and Other Construction Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | $ 11,096 | $ 67,365 |
Allowance for Loan and Lease 73
Allowance for Loan and Lease Losses (Allowance for loan and lease losses) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Provision For Loan And Lease Losses | $ 14,445 | $ 15,539 | $ 28,234 | $ 57,732 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 5,542 | |||
Balance at end of period | 4,487 | 4,487 | ||
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Commercial Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 26 | |||
Balance at end of period | 21 | 21 | ||
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Consumer Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 3,429 | |||
Balance at end of period | 3,002 | 3,002 | ||
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Unallocated Financing Receivables | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 0 | |||
Balance at end of period | 0 | 0 | ||
Acquired BBVAPR accounted under ASC 310-30 [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at end of period | 22,801 | 22,801 | ||
Acquired BBVAPR accounted under ASC 310-30 [Member] | Mortgage Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at end of period | 1,585 | 1,585 | ||
Acquired BBVAPR accounted under ASC 310-30 [Member] | Commercial Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at end of period | 15,863 | 15,863 | ||
Acquired BBVAPR accounted under ASC 310-30 [Member] | Consumer Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at end of period | 0 | 0 | ||
Acquired BBVAPR accounted under ASC 310-30 [Member] | Auto Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at end of period | 5,353 | 5,353 | ||
Originated Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 113,238 | 76,759 | 112,626 | 51,439 |
Charge-offs | 13,118 | 11,824 | 26,480 | 24,042 |
Recoveries | 3,640 | 4,101 | 6,954 | 7,728 |
Provision For Loan And Lease Losses | 9,052 | 9,953 | 19,712 | 43,864 |
Balance at end of period | 112,812 | 78,989 | 112,812 | 78,989 |
Originated Loan [Member] | Mortgage Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 18,784 | 18,086 | 18,352 | 19,679 |
Charge-offs | 1,374 | 1,356 | 3,036 | 2,770 |
Recoveries | 36 | 67 | 181 | 67 |
Provision For Loan And Lease Losses | 1,091 | 1,279 | 3,040 | 1,100 |
Balance at end of period | 18,537 | 18,076 | 18,537 | 18,076 |
Originated Loan [Member] | Commercial Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 64,206 | 33,123 | 64,791 | 8,432 |
Charge-offs | 833 | 497 | 1,844 | 1,489 |
Recoveries | 228 | 219 | 316 | 309 |
Provision For Loan And Lease Losses | (457) | 1,934 | (119) | 27,527 |
Balance at end of period | 63,144 | 34,779 | 63,144 | 34,779 |
Originated Loan [Member] | Consumer Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 11,414 | 9,405 | 11,197 | 9,072 |
Charge-offs | 2,811 | 2,309 | 5,138 | 3,985 |
Recoveries | 133 | 390 | 235 | 543 |
Provision For Loan And Lease Losses | 3,035 | 2,978 | 5,477 | 4,834 |
Balance at end of period | 11,771 | 10,464 | 11,771 | 10,464 |
Originated Loan [Member] | Leasing | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 18,716 | 15,762 | 18,261 | 14,255 |
Charge-offs | 8,100 | 7,662 | 16,462 | 15,798 |
Recoveries | 3,243 | 3,425 | 6,222 | 6,809 |
Provision For Loan And Lease Losses | 5,400 | 3,539 | 11,238 | 9,798 |
Balance at end of period | 19,259 | 15,064 | 19,259 | 15,064 |
Originated Loan [Member] | Unallocated Financing Receivables | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 118 | 383 | 25 | 1 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision For Loan And Lease Losses | (17) | 223 | 76 | 605 |
Balance at end of period | 101 | 606 | 101 | 606 |
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 | 4,993 | 5,450 | 5,542 | 4,597 |
Charge-offs | 1,596 | 2,357 | 3,152 | 5,006 |
Recoveries | 542 | 938 | 1,253 | 1,652 |
Provision For Loan And Lease Losses | 548 | 1,498 | 844 | 4,286 |
Balance at end of period | 4,487 | 5,529 | 4,487 | 5,529 |
Acquired loans [Member] | Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Commercial Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 23 | 49 | 26 | 65 |
Charge-offs | 12 | 16 | 19 | 16 |
Recoveries | 8 | 7 | 40 | 17 |
Provision For Loan And Lease Losses | 2 | 14 | (26) | (12) |
Balance at end of period | 21 | 54 | 21 | 54 |
Acquired loans [Member] | Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Consumer Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 3,243 | 1,885 | 3,429 | 1,211 |
Charge-offs | 1,013 | 1,303 | 1,825 | 2,686 |
Recoveries | 88 | 429 | 169 | 563 |
Provision For Loan And Lease Losses | 684 | 1,605 | 1,229 | 3,528 |
Balance at end of period | 3,002 | 2,616 | 3,002 | 2,616 |
Acquired loans [Member] | Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Auto Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 1,727 | 3,516 | 2,087 | 3,321 |
Charge-offs | 571 | 1,038 | 1,308 | 2,304 |
Recoveries | 446 | 502 | 1,044 | 1,072 |
Provision For Loan And Lease Losses | (138) | (121) | (359) | 770 |
Balance at end of period | 1,464 | 2,859 | 1,464 | 2,859 |
Acquired loans [Member] | Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Unallocated Financing Receivables | ||||
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 |
Acquired loans [Member] | Acquired BBVAPR accounted under ASC 310-30 [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 27,747 | 14,166 | 25,785 | 13,481 |
Charge-offs | 216 | 282 | ||
Provision For Loan And Lease Losses | 3,814 | 4,193 | 5,842 | 4,878 |
Allowance de-recognition from new policy | (8,544) | (8,544) | ||
Balance at end of period | 22,801 | 18,359 | 22,801 | 18,359 |
Acquired loans [Member] | Acquired BBVAPR accounted under ASC 310-30 [Member] | Mortgage Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 1,762 | 473 | 1,678 | 0 |
Charge-offs | 14 | 14 | ||
Provision For Loan And Lease Losses | (163) | 0 | (79) | 473 |
Allowance de-recognition from new policy | 0 | 0 | ||
Balance at end of period | 1,585 | 473 | 1,585 | 473 |
Acquired loans [Member] | Acquired BBVAPR accounted under ASC 310-30 [Member] | Commercial Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 20,430 | 13,687 | 21,245 | 13,476 |
Charge-offs | 0 | 66 | ||
Provision For Loan And Lease Losses | 3,977 | 1,253 | 3,228 | 1,464 |
Allowance de-recognition from new policy | (8,544) | (8,544) | ||
Balance at end of period | 15,863 | 14,940 | 15,863 | 14,940 |
Acquired loans [Member] | Acquired BBVAPR accounted under ASC 310-30 [Member] | Consumer Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 0 | 6 | 0 | 5 |
Charge-offs | 0 | 0 | ||
Provision For Loan And Lease Losses | 0 | 78 | 0 | 79 |
Allowance de-recognition from new policy | 0 | 0 | ||
Balance at end of period | 0 | 84 | 0 | 84 |
Acquired loans [Member] | Acquired BBVAPR accounted under ASC 310-30 [Member] | Auto Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 5,555 | 0 | 2,862 | 0 |
Charge-offs | 202 | 202 | ||
Provision For Loan And Lease Losses | 0 | 2,862 | 2,693 | 2,862 |
Allowance de-recognition from new policy | 0 | 0 | ||
Balance at end of period | $ 5,353 | $ 2,862 | $ 5,353 | $ 2,862 |
Allowance for Loan and Lease 74
Allowance for Loan and Lease Losses (Gross Loan and Allowance for loan and lease losses) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable, Individually Evaluated for Impairment | $ 219,393 | $ 235,767 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 4,513,005 | 4,650,527 | ||||
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 | 4,487 | 5,542 | $ 5,529 | |||
Financing Receivable, Allowance for Credit Losses | 4,487 | 5,542 | ||||
Financing Receivable, Individually Evaluated for Impairment | 1,433 | 474 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 115,438 | 6,983 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 116,871 | 7,457 | ||||
Acquired BBVAPR accounted under ASC 310-30 [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable, Allowance for Credit Losses | 22,801 | |||||
Originated Loan [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 65,622 | 65,180 | ||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 47,190 | 47,446 | ||||
Financing Receivable, Allowance for Credit Losses | 112,812 | $ 113,238 | 112,626 | 78,989 | $ 76,759 | $ 51,439 |
Financing Receivable, Individually Evaluated for Impairment | 308,908 | 325,267 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 2,887,159 | 2,786,323 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 3,196,067 | 3,111,590 | ||||
Mortgage Loan [Member] | Acquired BBVAPR accounted under ASC 310-30 [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable, Allowance for Credit Losses | 1,585 | |||||
Mortgage Loan [Member] | Originated Loan [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 8,864 | 9,233 | ||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 9,673 | 9,119 | ||||
Financing Receivable, Allowance for Credit Losses | 18,537 | 18,784 | 18,352 | 18,076 | 18,086 | 19,679 |
Financing Receivable, Individually Evaluated for Impairment | 90,948 | 89,973 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 650,969 | 667,855 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 741,917 | 757,828 | ||||
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 | 21 | 26 | 54 | |||
Financing Receivable, Allowance for Credit Losses | 21 | 26 | ||||
Financing Receivable, Individually Evaluated for Impairment | 1,433 | 474 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 3,126 | 6,983 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 4,559 | 7,457 | ||||
Commercial Loan [Member] | Acquired BBVAPR accounted under ASC 310-30 [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable, Allowance for Credit Losses | 15,863 | |||||
Commercial Loan [Member] | Originated Loan [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 56,758 | 55,947 | ||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 6,386 | 8,844 | ||||
Financing Receivable, Allowance for Credit Losses | 63,144 | 64,206 | 64,791 | 34,779 | 33,123 | 8,432 |
Financing Receivable, Individually Evaluated for Impairment | 217,960 | 235,294 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 1,258,653 | 1,206,355 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 1,476,613 | 1,441,649 | ||||
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 | 3,002 | 3,429 | 2,616 | |||
Financing Receivable, Allowance for Credit Losses | 3,002 | 3,429 | ||||
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 35,194 | 38,385 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 35,194 | 38,385 | ||||
Consumer Loan [Member] | Acquired BBVAPR accounted under ASC 310-30 [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable, Allowance for Credit Losses | 0 | |||||
Consumer Loan [Member] | Originated 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 | 11,771 | 11,197 | ||||
Financing Receivable, Allowance for Credit Losses | 11,771 | 11,414 | 11,197 | 10,464 | 9,405 | 9,072 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 265,269 | 242,950 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 265,269 | 242,950 | ||||
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 | 1,464 | 2,087 | 2,859 | |||
Financing Receivable, Allowance for Credit Losses | 1,464 | 2,087 | ||||
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 77,118 | 106,911 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 77,118 | 106,911 | ||||
Auto and Leasing [Member] | Originated 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 | 19,259 | 18,261 | ||||
Financing Receivable, Allowance for Credit Losses | 19,259 | 18,716 | 18,261 | 15,064 | 15,762 | 14,255 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 712,268 | 669,163 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 712,268 | 669,163 | ||||
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 | 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 | Originated 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 | 101 | 25 | ||||
Financing Receivable, Allowance for Credit Losses | 101 | $ 118 | 25 | $ 606 | $ 383 | $ 1 |
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 75
Allowance for Loan and Lease Losses (Allowance for Acquired Eurobank Loan and Lease Losses) (Details) - Eurobank Acquired Loans - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2016 | Jun. 30, 2015 | |
Loan Receivable Type | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance at beginning of period | $ 92,293 | $ 90,178 | |
Provision for loan and lease losses, net | 1,031 | 1,836 | |
Charge-offs | 134 | ||
FDIC shared-loss portion of provision for (recapture of) loan and lease losses, net | 951 | 2,395 | |
Allowance de-recognition from new policy | (72,159) | (72,159) | |
Balance at end of period | 22,116 | 22,116 | $ 71,452 |
Mortgage | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance at beginning of period | 23,961 | 22,570 | |
Provision for loan and lease losses, net | 237 | 184 | |
Charge-offs | 0 | ||
FDIC shared-loss portion of provision for (recapture of) loan and lease losses, net | 951 | 2,395 | |
Allowance de-recognition from new policy | (14,133) | (14,133) | |
Balance at end of period | 11,016 | 11,016 | 17,593 |
Commercial and Construction | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance at beginning of period | 68,089 | 67,365 | |
Provision for loan and lease losses, net | 801 | 1,659 | |
Charge-offs | 134 | ||
FDIC shared-loss portion of provision for (recapture of) loan and lease losses, net | 0 | 0 | |
Allowance de-recognition from new policy | (57,794) | (57,794) | |
Balance at end of period | 11,096 | 11,096 | 53,470 |
Consumer Loan [Member] | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance at beginning of period | 243 | 243 | |
Provision for loan and lease losses, net | (7) | (7) | |
Charge-offs | 0 | ||
FDIC shared-loss portion of provision for (recapture of) loan and lease losses, net | 0 | 0 | |
Allowance de-recognition from new policy | (232) | (232) | |
Balance at end of period | 4 | 4 | 389 |
Leasing | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance at beginning of period | 0 | 0 | |
Provision for loan and lease losses, net | 0 | 0 | |
Charge-offs | 0 | ||
FDIC shared-loss portion of provision for (recapture of) loan and lease losses, net | 0 | 0 | |
Allowance de-recognition from new policy | 0 | 0 | |
Balance at end of period | $ 0 | $ 0 | $ 0 |
FDIC Indemnification Indemnific
FDIC Indemnification Indemnification Asset and True-up Payment Obligation (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
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 clawback liability or clawback provision, to the FDIC on the date that is 45 days following the last day (such day, the “True-Up Measurement Date”) of the final shared-loss month, or upon the final disposition of all covered assets under the shared-loss agreements in the event losses thereunder fail to reach expected levels. Under the shared-loss agreements, the Bank will pay to the FDIC 50% of the excess, if any, of: (i) 20% of the Intrinsic Loss Estimate of $906.0 million (or $181.2 million) (as determined by the FDIC) less (ii) the sum of: (A) 25% of the asset discount (per bid) (or $227.5 million); plus (B) 25% of the cumulative shared-loss payments (defined as the aggregate of all of the payments made or payable to the Bank minus the aggregate of all of the payments made or payable to the FDIC); plus (C) the sum of the period servicing amounts for every consecutive twelve-month period prior to and ending on the True-Up Measurement Date in respect of each of the shared-loss agreements during which the shared-loss provisions of the applicable shared-loss agreement is in effect (defined as the product of the simple average of the principal amount of shared-loss loans and shared-loss assets at the beginning and end of such period times 1%). The estimated liability is included within accrued expenses and other liabilities in the unaudited consolidated statements of financial condition. This true-up payment obligation may increase if actual and expected losses decline. The Company measures the true-up payment obligation at fair value. The changes in fair value are included as a change in true-up payment obligation within the FDIC shared-loss expense, net, in the unaudited consolidated statements of operations. | |||
FDIC Owed Payment | $ 1,100 | |||
FDIC indemnification asset, expense | $ 1,405 | $ 22,512 | $ 4,269 | $ 34,733 |
FDIC Indemnification Asset an77
FDIC Indemnification Asset and True-up Payment Obligation (FDIC Indemnification Asset Roll Forward) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
FDIC Indemnification Asset [Roll Forward] | ||||
Balance | $ 20,923 | $ 75,221 | $ 22,599 | $ 97,378 |
Indemnification agreements reimbursements from FDIC | (332) | (24,387) | (737) | (38,087) |
Shared-loss agreements reimbursements expected from the FDIC | 951 | 906 | 2,395 | 2,503 |
FDIC indemnification asset, expense | (1,405) | (22,512) | (4,269) | (34,733) |
Incurred expenses to be reimbursed under shared-loss agreements | (1,711) | (6,524) | (1,562) | (4,357) |
Balance | 18,426 | 22,704 | 18,426 | 22,704 |
True-up payment obligation [Roll Forward] | ||||
Balance | 25,235 | 22,844 | 24,658 | 21,981 |
Change in true-up payment obligation expense | 537 | 733 | 1,114 | 1,596 |
Balance | $ 25,772 | $ 23,577 | $ 25,772 | $ 23,577 |
FDIC Indemnification Asset an78
FDIC Indemnification Asset and True-up Payment Obligation (Fair value and the undiscounted amount of the true-up payment obligation) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
FDIC-Assisted Acquisition [Abstract] | ||
Business Combination Contingent Consideration Liability | $ 25,772 | $ 24,658 |
Business Combination Contingent Consideration Potential Cash Payment | $ 33,782 | $ 34,956 |
FDIC Indemnification Asset an79
FDIC Indemnification Asset and True-up Payment Obligation (FDIC Indemnification Expense) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Fdic Shared Loss Expense [Abstract] | ||||
FDIC indemnification asset, expense | $ (1,405) | $ (22,512) | $ (4,269) | $ (34,733) |
Change in true-up payment obligation expense | (537) | (733) | (1,114) | (1,596) |
Reimbursement to FDIC for recoveries | (1,478) | 0 | (2,066) | 0 |
FDIC shared-loss expense, net | $ (3,420) | $ (23,245) | $ (7,449) | $ (36,329) |
Premises and Equipment (Details
Premises and Equipment (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Property Plant And Equipment Line Items | ||
Total Premises and Equipment, net | $ 72,585 | $ 74,590 |
Servicing Assets (Narratives) (
Servicing Assets (Narratives) (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Servicing Assets At Fair Value Line Items | |||
Servicing Asset at Fair Value, Amount | $ 7,932 | $ 7,455 | |
Proceeds from the sale of Mortgage Servicing Rights | $ 0 | $ 5,927 |
Servicing Assets (Changes in se
Servicing Assets (Changes in serving rights at fair value) (Details) $ in Thousands | Jun. 30, 2016USD ($) |
Servicing Asset At Fair Value Amount Roll Forward | |
Fair value | $ 7,455 |
Fair value | $ 7,932 |
Derivative Activities (Narrativ
Derivative Activities (Narratives) (Details) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Unrealized Gain Loss On Derivatives | $ 3,700,000 | $ 4,300,000 |
Notional Amount Purchased Option | 425,000 | 3,400,000 |
Embedded Derivative, Fair Value of Embedded Derivative Liability | 181,000 | 1,100,000 |
Derivative Assets | 1,926,000 | 3,025,000 |
Derivative Liabilities | 5,413,000 | 6,162,000 |
Notional Amount Embedded Option | 411,000 | 3,200,000 |
Interest Rate Cap [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Derivative Assets | 36,000 | 32,000 |
Derivative Liabilities | 36,000 | 32,000 |
Derivative, Notional Amount | 124,500,000 | 109,800,000 |
Options tied to Standard & Poor 500 Stock Market Index [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Derivative Assets | 187,000 | 1,170,000 |
Designated as Hedging Instrument [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Derivative Liabilities | 3,656,000 | 4,307,000 |
Not Designated as Hedging Instrument [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Derivative Assets | 1,703,000 | 1,819,000 |
Derivative Liabilities | 1,703,000 | 1,819,000 |
Other derivative | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Derivative Assets | 0 | 4,000 |
Derivative Liabilities | $ 18,000 | $ 4,000 |
Derivative Activities (Derivati
Derivative Activities (Derivative Assets and Liabilities) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Derivative Assets (Liabilities) at Fair Value | ||
Derivative Assets | $ 1,926 | $ 3,025 |
Derivative Liabilities | 5,413 | 6,162 |
Options tied to Standard & Poor 500 Stock Market Index [Member] | ||
Derivative Assets (Liabilities) at Fair Value | ||
Derivative Assets | 187 | 1,170 |
Designated as Hedging Instrument [Member] | ||
Derivative Assets (Liabilities) at Fair Value | ||
Derivative Liabilities | 3,656 | 4,307 |
Not Designated as Hedging Instrument [Member] | ||
Derivative Assets (Liabilities) at Fair Value | ||
Derivative Assets | 1,703 | 1,819 |
Derivative Liabilities | 1,703 | 1,819 |
Interest Rate Cap [Member] | ||
Derivative Assets (Liabilities) at Fair Value | ||
Derivative Assets | 36 | 32 |
Derivative Liabilities | 36 | 32 |
Other derivative | ||
Derivative Assets (Liabilities) at Fair Value | ||
Derivative Assets | 0 | 4 |
Derivative Liabilities | $ 18 | $ 4 |
Derivative Activities (Interest
Derivative Activities (Interest rate swap and their term) (Details) $ in Thousands | 6 Months Ended |
Jun. 30, 2016USD ($) | |
Interest rate swap designated as cash flow hedges | |
Derivative [Line Items] | |
Notional Amount | $ 237,290 |
Interest rate swap designated as cash flow hedges | Rate 2.6200% [Member] | |
Derivative [Line Items] | |
Notional 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] | |
Notional Amount | $ 25,000 |
Fixed rate | 2.635% |
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] | |
Notional Amount | $ 50,000 |
Fixed rate | 2.659% |
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] | |
Notional Amount | $ 100,000 |
Fixed rate | 2.675% |
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] | |
Notional Amount | $ 37,290 |
Fixed rate | 2.421% |
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] | |
Notional Amount | $ 16,182 |
Interest rate swaps not designated as hedges - offered to clients | |
Derivative [Line Items] | |
Notional Amount | $ 16,182 |
Derivative Activities (Intere86
Derivative Activities (Interest rate swap not designated as hedging instruments and their term) (Details) $ in Thousands | 6 Months Ended |
Jun. 30, 2016USD ($) | |
Derivatives Offered to Clients [Member] | |
Derivative [Line Items] | |
Notional derivative not designated as an hedging instrument. | $ 16,182 |
Derivatives Offered to Clients [Member] | Rate 5.13% [Member] | |
Derivative [Line Items] | |
Notional derivative not designated as an hedging instrument. | $ 3,682 |
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] | |
Notional derivative not designated as an hedging instrument. | $ 12,500 |
Fixed rate | 5.505% |
Settlement Date | Apr. 11, 2009 |
Maturity Date | Apr. 11, 2019 |
Mirror Image Derivatives [Member] | |
Derivative [Line Items] | |
Notional derivative not designated as an hedging instrument. | $ 16,182 |
Mirror Image Derivatives [Member] | Rate 5.13% [Member] | |
Derivative [Line Items] | |
Notional derivative not designated as an hedging instrument. | $ 3,682 |
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] | |
Notional derivative not designated as an hedging instrument. | $ 12,500 |
Fixed rate | 5.505% |
Settlement Date | Apr. 11, 2009 |
Maturity Date | Apr. 11, 2019 |
Accrued Interest and Other Asse
Accrued Interest and Other Assets (Narratives) (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Other assets [Line Items] | ||
Other prepaid expenses | $ 16,332,000 | $ 11,762,000 |
Prepaid Taxes | 11,200,000 | 7,000,000 |
Other repossessed assets | 3,866,000 | 6,226,000 |
Repossessed auto | 3,700,000 | 5,500,000 |
Mortgage tax credits | 6,277,000 | 6,277,000 |
CoreDepositsMember | Eurobank [Member] | ||
Other assets [Line Items] | ||
Other Intangible Assets | 4,800,000 | 5,300,000 |
Customer Relationships [Member] | ||
Other assets [Line Items] | ||
Other Intangible Assets | $ 2,200,000 | $ 2,500,000 |
Accrued Interest Receivable a88
Accrued Interest Receivable and Other Assets (Accrued Interest)(Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Accounts Receivable Net Abstract | ||
Accrued Interest Receivable On Non Acquired Loans | $ 16,545 | $ 16,020 |
Accrued Investment Income Receivable | 3,464 | 4,617 |
Total Interest Receivable | $ 20,009 | $ 20,637 |
Accrued Interest and Other As89
Accrued Interest and Other Assets (Other assets) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Other asset | ||
Other prepaid expenses | $ 16,332 | $ 11,762 |
Other repossessed assets | 3,866 | 6,226 |
Core deposit intangible and customer relationship intangibles | 6,999 | 7,838 |
Mortgage tax credits | 6,277 | 6,277 |
Investment in Statutory Trust | 1,083 | 1,083 |
Accounts receivable and other assets | 42,255 | 42,786 |
Other assets | $ 76,812 | $ 75,972 |
Deposits and Related Interest90
Deposits and Related Interest (Narratives) (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Deposits [Abstract] | ||
Weighted Average Rate Domestic Deposit | 0.63% | 0.57% |
Puerto Rico Cash & Money Market Fund Deposits | $ 104,400,000 | $ 103,700,000 |
Puerto Rico Cash & Money Market Fund Deposits Weighted Average Rate | 0.77% | 0.77% |
Puerto Rico Cash & Money Market Fund Deposits Collateral | $ 84,700,000 | $ 81,600,000 |
Time Deposits, $250,000 or More | 340,900,000 | 376,800,000 |
Public Fund Time Deposits, $250,000 or more | $ 9,200,000 | $ 7,600,000 |
Public Fund Time Deposits Weighted Average Rate, $250,000 or more | 0.55% | 0.49% |
Public funds deposit | $ 88,400,000 | $ 99,000,000 |
Public Fund Collateral Investments | 410,900,000 | 410,900,000 |
Accrued Interest, Time Deposits | 1,800,000 | |
Unamortized deposit discounts | 150,000 | |
Bank Overdrafts | 569,000 | 1,500,000 |
Brokered Certificates of Deposits | 495,900,000 | 711,400,000 |
Brokered Money Market Deposit | 65,700,000 | $ 71,600,000 |
Equity indexed option | $ 181,000 |
Deposits and Related Interest91
Deposits and Related Interest (Deposits by Components) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Deposits, by Component, Alternative [Abstract] | ||
Noninterest-bearing demand deposit | $ 917,260 | $ 762,009 |
Interest-bearing saving and demand deposits | 2,165,907 | 2,208,180 |
Individual Retirement Account | 269,189 | 268,799 |
Retail certificates of deposists | 525,979 | 441,998 |
Institutional certificates of deposits | 204,074 | 253,791 |
Total Core Deposits | 4,082,409 | 3,934,777 |
Brokered Deposists | 561,645 | 782,974 |
Deposits, Total | $ 4,644,054 | $ 4,717,751 |
Deposits and Related Interest92
Deposits and Related Interest (Interest expense) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Interest Expense Domestic Deposit Liabilities [Abstract] | ||||
Demand and saving deposits | $ 3,184 | $ 3,100 | $ 6,026 | $ 6,482 |
Certificates of Deposits | 4,183 | 3,504 | 8,465 | 7,226 |
Total | $ 7,367 | $ 6,604 | $ 14,491 | $ 13,708 |
Deposits and Related Interest93
Deposits and Related Interest (Maturities of Time Deposits) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Maturities of Time Deposits [Abstract] | ||
Time Deposit Maturities Less Than Three Month | $ 225,512 | $ 474,051 |
Time Deposit Maturities Three To Twelve Month | 518,304 | 501,551 |
Total Time deposits | 743,816 | 975,602 |
Time Deposit Maturities, Year Two | 513,092 | 454,906 |
Time Deposit Maturities, Year Three | 155,666 | 176,406 |
Time Deposit Maturities, Year Four | 36,059 | 32,396 |
Time Deposit Maturities, Year Five | 44,340 | 33,715 |
Certificates of deposit | $ 1,492,973 | $ 1,673,025 |
Borrowings (Narrative) (Details
Borrowings (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Debt Instrument [Line Items] | |||||
New Repurchase Agreement Debt Amount du to Unwind | $ 232,000 | $ 232,000 | |||
Other borrowings | 1,753 | 1,753 | $ 1,734 | ||
Subordinated Debt | 102,983 | 102,983 | 102,633 | ||
Gains Losses On Extinguishment Of Debt | 0 | $ 0 | (12,000) | $ 0 | |
Federal Home Loan Bank Advances [Member] | |||||
Debt Instrument [Line Items] | |||||
Loans Receivable, Gross, Commercial, Mortgage | 1,500,000 | 1,500,000 | 1,300,000 | ||
Additional Borrowing Capacity | 895,000 | $ 895,000 | $ 770,600 | ||
Weighted average period remaining maturity of FHLB advances | 5.4 months | 6.3 months | |||
Interest Payable | 336 | $ 336 | |||
Repurchase agreement | |||||
Debt Instrument [Line Items] | |||||
Interest Payable | 1,600 | 1,600 | $ 2,200 | ||
Extinguished Debt | 268,000 | 268,000 | |||
Total Of Debt Matured Under Repurchased Agreement | $ 500,000 | $ 500,000 |
Borrowings (Securities Sold Und
Borrowings (Securities Sold Under Agreement to Repurchase by Counterparties) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Debt Instrument [Line Items] | ||
Borrowings | $ 1,037,325 | $ 1,371,534 |
Securities Sold under Agreements to Repurchase [Member] | ||
Debt Instrument [Line Items] | ||
Borrowings | 624,500 | 932,500 |
Fair Value of Underlying Collateral | 668,689 | 1,021,370 |
Securities Sold under Agreements to Repurchase [Member] | Jp Morgan Chase Bank Na [Member] | ||
Debt Instrument [Line Items] | ||
Borrowings | 222,500 | 262,500 |
Fair Value of Underlying Collateral | 231,586 | 283,483 |
Securities Sold under Agreements to Repurchase [Member] | Credit Suisse Securities LLC [Member] | ||
Debt Instrument [Line Items] | ||
Borrowings | 402,000 | 670,000 |
Fair Value of Underlying Collateral | $ 437,103 | $ 737,887 |
Borrowings (Repurchase Agreemen
Borrowings (Repurchase Agreements) (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2016 | Dec. 31, 2015 | |
Debt Instrument [Line Items] | ||
Borrowing Balance | $ 1,037,325 | $ 1,371,534 |
Securities Sold under Agreements to Repurchase [Member] | ||
Debt Instrument [Line Items] | ||
Borrowing Balance | $ 624,500 | $ 932,500 |
Weighted Average Coupon | 2.69% | |
Securities Sold under Agreements to Repurchase [Member] | Due date: 12 08 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: 03 02 2017 [Member] | ||
Debt Instrument [Line Items] | ||
Borrowing Balance | $ 232,000 | |
Weighted Average Coupon | 4.78% | |
Settlement Date | Mar. 2, 2007 | |
Investment Repurchase Agreement, Repurchase Date | Mar. 2, 2017 | |
Securities Sold under Agreements to Repurchase [Member] | Due Date: 04 29 2018 [Member] | ||
Debt Instrument [Line Items] | ||
Borrowing Balance | $ 222,500 | |
Weighted Average Coupon | 1.42% | |
Settlement Date | Dec. 10, 2012 | |
Investment Repurchase Agreement, Repurchase Date | Apr. 29, 2018 |
Borrowings (Repurchase Transact
Borrowings (Repurchase Transaction Liability and Market Value of its Underlying Collateral) (Details) - Securities Sold under Agreements to Repurchase [Member] - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Assets Sold Under Agreements To Repurchase Line Items | ||
Assets Sold Under Agreements To Repurchase Repurchase Liability | $ 932,500,000 | |
Assets Sold Under Agreements To Repurchase Interest Rate | 3.10% | |
Market value of underlying collateral of a repurchase agreement | $ 1,021,370,000 | |
FNMA and FHLMC [Member] | ||
Assets Sold Under Agreements To Repurchase Line Items | ||
Market value of underlying collateral of a repurchase agreement | 1,006,659,000 | |
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 | 2,131,000 | |
US Treasury Securities [Member] | ||
Assets Sold Under Agreements To Repurchase Line Items | ||
Market value of underlying collateral of a repurchase agreement | 12,580,000 | |
Mturity less than 90 Days Member | ||
Assets Sold Under Agreements To Repurchase Line Items | ||
Assets Sold Under Agreements To Repurchase Repurchase Liability | $ 30,000,000 | |
Assets Sold Under Agreements To Repurchase Interest Rate | 0.70% | |
Market value of underlying collateral of a repurchase agreement | $ 31,961,000 | |
Mturity less than 90 Days Member | FNMA and FHLMC [Member] | ||
Assets Sold Under Agreements To Repurchase Line Items | ||
Assets Sold Under Agreements To Repurchase Interest Rate | 0.70% | |
Market value of underlying collateral of a repurchase agreement | $ 31,961,000 | |
Maturity over 90 days | ||
Assets Sold Under Agreements To Repurchase Line Items | ||
Assets Sold Under Agreements To Repurchase Repurchase Liability | $ 624,500,000 | $ 902,500,000 |
Assets Sold Under Agreements To Repurchase Interest Rate | 2.69% | 3.18% |
Market value of underlying collateral of a repurchase agreement | $ 668,689,000 | $ 989,409,000 |
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 | 646,889,000 | 974,698,000 |
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 | 1,579,000 | 2,131,000 |
Maturity over 90 days | US Treasury Securities [Member] | ||
Assets Sold Under Agreements To Repurchase Line Items | ||
Market value of underlying collateral of a repurchase agreement | $ 20,221,000 | $ 12,580,000 |
Borrowings (Advances from the F
Borrowings (Advances from the Federal Home Loan Bank) (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2016 | Dec. 31, 2015 | |
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 1,037,325 | $ 1,371,534 |
Federal Home Loan Bank Advances [Member] | ||
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 306,144 | |
FHLB, Weighted Average Interest Rate | 0.95% | |
Federal Home Loan Bank Advances [Member] | July 11, 2016 [Member] | Fifty Millions [Member] | ||
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 50,000 | |
FHLB, Weighted Average Interest Rate | 0.56% | |
Settlement Date | Jun. 10, 2016 | |
Maturity Date | Jul. 11, 2016 | |
Federal Home Loan Bank Advances [Member] | July 18, 2016 [Member] | One Hundred Millions [Member] | ||
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 100,000 | |
FHLB, Weighted Average Interest Rate | 0.59% | |
Settlement Date | Jun. 16, 2016 | |
Maturity Date | Jul. 18, 2016 | |
Federal Home Loan Bank Advances [Member] | July 25, 2016 [Member] | Twenty Five Millions [Member] | ||
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 25,000 | |
FHLB, Weighted Average Interest Rate | 0.60% | |
Settlement Date | Jun. 24, 2016 | |
Maturity Date | Jul. 25, 2016 | |
Federal Home Loan Bank Advances [Member] | July 29, 2016 [Member] | Twenty Five Millions [Member] | ||
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 25,000 | |
FHLB, Weighted Average Interest Rate | 0.57% | |
Settlement Date | Jun. 30, 2016 | |
Maturity Date | Jul. 29, 2016 | |
Federal Home Loan Bank Advances [Member] | July 01, 2016 [Member] | Thirty Seven Million [Member] | ||
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 37,290 | |
FHLB, Weighted Average Interest Rate | 0.63% | |
Settlement Date | Jun. 1, 2016 | |
Maturity Date | Jul. 1, 2016 | |
Federal Home Loan Bank Advances [Member] | April 3, 2017 [Member] | Four Million [Member] | ||
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 4,150 | |
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 | $ 9,704 | |
FHLB, Weighted Average Interest Rate | 2.59% | |
Settlement Date | Jul. 19, 2013 | |
Maturity Date | Jul. 20, 2020 |
Borrowings (Redemption Fund) (D
Borrowings (Redemption Fund) (Details) - Redemption Fund [Member] $ in Thousands | Jun. 30, 2016USD ($) |
Debt Instrument [Line Items] | |
Redemption fund - June 30, 2016 | $ 67,000 |
Total | $ 67,000 |
Offsetting Arrangements (Assets
Offsetting Arrangements (Assets Offsetting) (Details) - Derivative - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Offsetting Assets [Line Items] | ||
Gross Amount of Recognized Assets | $ 1,926 | $ 3,025 |
Gross amounts Offset in the Statement of Financial Condition | 0 | 0 |
Net Amount of Assets in Statement of Financial Condition | 1,926 | 3,025 |
Financial Instruments | 2,009 | 2,000 |
Cash Collateral Received | 0 | 0 |
Net Amount | $ (83) | $ 1,025 |
Offsetting Arrangement (Liabili
Offsetting Arrangement (Liabilities Offsetting) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Offsetting Liabilities [Line Items] | ||
Gross amount of Recognized Liabilities | $ 630,094 | $ 939,757 |
Gross amount Offset in the Statement of Financial Condition | 0 | 0 |
Net Amount of Liabilities Presented in the Statement of Financial Condition | 630,094 | 939,757 |
Financial Instruments | 668,689 | 1,021,370 |
Cash Collateral Provided | 1,980 | 1,980 |
Net Amount | (40,575) | (83,593) |
Derivative Financial Instruments, Liabilities [Member] | ||
Offsetting Liabilities [Line Items] | ||
Gross amount of Recognized Liabilities | 5,594 | 7,257 |
Gross amount Offset in the Statement of Financial Condition | 0 | 0 |
Net Amount of Liabilities Presented in the Statement of Financial Condition | 5,594 | 7,257 |
Financial Instruments | 0 | 0 |
Cash Collateral Provided | 1,980 | 1,980 |
Net Amount | 3,614 | 5,277 |
Securities Loaned or Sold under Agreements to Repurchase | ||
Offsetting Liabilities [Line Items] | ||
Gross amount of Recognized Liabilities | 624,500 | 932,500 |
Gross amount Offset in the Statement of Financial Condition | 0 | 0 |
Net Amount of Liabilities Presented in the Statement of Financial Condition | 624,500 | 932,500 |
Financial Instruments | 668,689 | 1,021,370 |
Cash Collateral Provided | 0 | 0 |
Net Amount | $ (44,189) | $ (88,870) |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Loans and Leases Receivable, Related Parties [Roll Forward] | ||||
Balance | $ 31,134 | $ 27,508 | $ 31,475 | $ 27,011 |
New loans | 1,596 | 6,457 | 1,799 | 10,312 |
Repayments and sales | (2,034) | (647) | (2,578) | (4,005) |
Balance | $ 30,696 | $ 33,318 | $ 30,696 | $ 33,318 |
Income Taxes (Narratives) (Deta
Income Taxes (Narratives) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Income Taxes [Abstract] | |||||
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | $ 81,000 | $ 81,000 | $ 175,000 | ||
Deferred Tax Assets, Net | 143,048,000 | 143,048,000 | 145,901,000 | ||
OtherComprehensiveIncomeLossTax | (456,000) | 1,182,000 | |||
Income Tax Expense (Benefit) | 5,858,000 | $ 769,000 | 11,519,000 | $ 1,748,000 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 2,300,000 | 2,300,000 | 2,200,000 | ||
Residual tax effect from OIB's change in applicable tax rate AFS | $ 8,000 | $ 12,000 | 16,000 | $ 22,000 | |
International Banking Entity [Member] | |||||
OtherComprehensiveIncomeLossTax | $ 126,000 | $ 141,000 |
Income Taxes (Components of inc
Income Taxes (Components of income tax expense (benefit)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract | ||||
Deferred Income Tax Expense (Benefit) | $ 3,543 | $ (1,316) | ||
Income Tax Expense (Benefit) | $ 5,858 | $ 769 | $ 11,519 | $ 1,748 |
Income taxes (Effective Income
Income taxes (Effective Income Tax Rate Reconciliation) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
IncomeTaxExpenseBenefitContinuingOperationsIncomeTaxReconciliationAbstract | ||||
Total Income Tax Expense (Benefit) | $ 5,858 | $ 769 | $ 11,519 | $ 1,748 |
Income Taxes (Components of Def
Income Taxes (Components of Deferred Tax Assets) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Components Of Deferred Tax Liabilities Abstract | ||
Deferred Tax Assets, Net | $ 143,048 | $ 145,901 |
Regulatory Capital Requireme107
Regulatory Capital Requirements (Group's and the Bank's actual capital amounts and ratios) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Group [Member] | ||
Capital [Abstract] | ||
Actual - Total capital | $ 849,147 | $ 846,748 |
Actual - Tier 1 capital | 788,349 | 782,912 |
Actual -Common equity tier 1 capital | 596,080 | 594,482 |
Actual - Tier 1 leverage capital | 788,349 | 782,912 |
Minimum Capital - Total Capital | 377,323 | 391,723 |
Minimum capital - Tier 1 capital | 282,992 | 293,792 |
Minimum capital - Common equity tier 1 capital | 212,244 | 220,344 |
Minimum capital - Tier 1 leverage capital | 264,633 | 280,009 |
Minimum to be well capitalized - Total Capital | 471,653 | 489,654 |
Minimum to be well capitalized - Tier 1 capital | 377,323 | 391,723 |
Minimum to be well capitalized - Common equity tier 1 capital | 306,575 | 318,275 |
Minimum to be well capitalized - Tier 1 leverage | $ 330,791 | $ 350,011 |
Risk Based Ratios [Abstract] | ||
Capital to Risk Weighted Assets | 18.00% | 17.29% |
Tier One Risk Based Capital to Risk Weighted Assets | 16.71% | 15.99% |
Common Equity Tier OneTo Risk Weighted Assets | 12.64% | 12.14% |
Tier One Leverage Capital to Average Assets | 11.92% | 11.18% |
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% | 6.00% |
Common Equity Tier One Required For Capital Adequacy To Risk Weighted Assets | 4.50% | 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% | 8.00% |
Tier One Risk Common Equity Tier One Required To Be Well Capitalized To Risk Weighted Assets | 6.50% | 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 | $ 830,002 | $ 815,458 |
Actual - Tier 1 capital | 769,424 | 751,886 |
Actual -Common equity tier 1 capital | 769,424 | 751,886 |
Actual - Tier 1 leverage capital | 769,424 | 751,886 |
Minimum Capital - Total Capital | 376,874 | 390,688 |
Minimum capital - Tier 1 capital | 282,656 | 293,016 |
Minimum capital - Common equity tier 1 capital | 211,992 | 219,762 |
Minimum capital - Tier 1 leverage capital | 263,464 | 278,399 |
Minimum to be well capitalized - Total Capital | 471,093 | 488,360 |
Minimum to be well capitalized - Tier 1 capital | 376,874 | 390,688 |
Minimum to be well capitalized - Common equity tier 1 capital | 306,210 | 317,434 |
Minimum to be well capitalized - Tier 1 leverage | $ 329,330 | $ 347,999 |
Risk Based Ratios [Abstract] | ||
Capital to Risk Weighted Assets | 17.62% | 16.70% |
Tier One Risk Based Capital to Risk Weighted Assets | 16.33% | 15.40% |
Common Equity Tier OneTo Risk Weighted Assets | 16.33% | 15.40% |
Tier One Leverage Capital to Average Assets | 11.68% | 10.80% |
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% | 6.00% |
Common Equity Tier One Required For Capital Adequacy To Risk Weighted Assets | 4.50% | 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% | 8.00% |
Tier One Risk Common Equity Tier One Required To Be Well Capitalized To Risk Weighted Assets | 6.50% | 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) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Equity, Class of Treasury Stock [Line Items] | ||||
Stock Repurchase Program Authorized Amount1 | $ 70,000 | |||
Total number of shares purchased | 303,985 | 303,985 | ||
Treasury Stock Acquired, Average Cost Per Share | $ 13.9 | |||
Treasury Stock, Value, Acquired, Cost Method | $ 4,200 | 0 | $ 4,238 | |
Stock Repurchase Program Remaining Authorized Repurchase Amount1 | $ 7,700 | |||
Stock repurchase program remaining number of shares authorized to be repurchased | 931,428 | |||
SharePrice | $ 8.3 | |||
Preferred Stock Issue Costs | $ 13,600 | |||
Common Stock Issuance Cost | $ 10,100 | |||
legal surplus | 73,300 | 70,400 | ||
Preferred Stock [Member] | ||||
Equity, Class of Treasury Stock [Line Items] | ||||
Preferred Stock Issue Costs | $ 13,600 | |||
Common Stock [Member] | ||||
Equity, Class of Treasury Stock [Line Items] | ||||
Common Stock Issuance Cost | $ 10,100 |
Stockholders' Equity (Shares re
Stockholders' Equity (Shares repurchased under the stock repurchase program) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2016 | Dec. 31, 2015 | |
Equity, Class of Treasury Stock [Line Items] | |||
Common shares repurchased as part of the stock repurchase program (Shares) | 303,985 | ||
Treasury Stock Acquired, Average Cost Per Share | $ 13.9 | ||
Treasury Stock, Value | $ 104,874 | $ 105,379 |
Stockholders' Equity (Common sh
Stockholders' Equity (Common shares held in treasury, activity) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Stockholders' Equity Note [Abstract] | |||
Beginning of period | 8,757,960 | 8,012,254 | |
Common shares used for exercise of restricted stock units (Shares) | (45,810) | (58,279,000) | |
Common shares repurchased as part of the stock repurchase program (Shares) | 0 | 303,985 | |
Reclassification from common stock (shares) | 0 | ||
End of period | 8,257,960 | 8,712,150 | 8,257,960 |
Beginning of period | $ 105,379 | $ 97,070 | |
Common shares used for exercise of restricted stock units (Value) | (505) | (640) | |
Stock purchased under the repurchase program | $ 4,200 | 0 | 4,238 |
End of period | $ 100,668 | $ 104,874 | $ 100,668 |
Accumulated Other Comprehens111
Accumulated Other Comprehensive Income (Accumulated Comprehensive Income, net of income tax) (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
Accumulated Other Comprehensive Income [Line Items] | ||
Accumulated other comprehensive income, net of tax, Total | $ 15,805 | $ 13,997 |
Accumulated Other Comprehensive Income (Loss) [Member] | ||
Accumulated Other Comprehensive Income [Line Items] | ||
Accumulated other comprehensive income, net of tax, Total | 15,805 | 13,997 |
AccumulatedOtherThanTemporaryImpairmentMember | ||
Accumulated Other Comprehensive Income [Line Items] | ||
Unrealized gain on securities available-for-sale which are not other-than-temporarily impaired | 19,004 | 22,044 |
Unrealized loss on securities available-for-sale which are other-than-temporarily impaired | 0 | (3,196) |
Income tax effect of unrealized gain on securities available-for-sale | (919) | (1,924) |
Net unrealized gain on securities available for sale wich are not other than temporarily impaired | 18,085 | 16,924 |
Accumulated Net Gain Loss From Designated Or Qualifying Cash Flow Hedges [Member] | ||
Accumulated Other Comprehensive Income [Line Items] | ||
Unrealized loss on cash flow hedges | (3,655) | (4,307) |
Income tax effect of unrealized loss on cash flow hedges | 1,375 | 1,380 |
Net unrealized (loss) income on cash flow hedges | $ (2,280) | $ (2,927) |
Accumulated Other Comprehens112
Accumulated Other Comprehensive Income (Changes in Other Comprehensive Income by Components) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Net unrealized gains on securities available for sale | ||||
Accumulated Other Comprehensive Income [Line Items] | ||||
Beginning balance | $ 15,089 | $ 30,214 | $ 16,924 | $ 25,764 |
Other Comprehensive Income Loss Before Reclassifications Net Of Tax | 3,060 | (11,523) | (1,266) | (7,212) |
Reclassification Out Of Accumulated Other Comprehensive Income | (64) | 141 | 2,427 | 280 |
Other Comprehensive Income (Loss) Other Net Of Tax | 2,996 | (11,382) | 1,161 | (6,932) |
Ending balance | 18,085 | 18,832 | 18,085 | 18,832 |
Net unrealized loss on cash flow hedges | ||||
Accumulated Other Comprehensive Income [Line Items] | ||||
Beginning balance | (2,805) | (5,890) | (2,927) | (6,053) |
Other Comprehensive Income Loss Before Reclassifications Net Of Tax | (949) | (180) | (2,406) | (1,549) |
Reclassification Out Of Accumulated Other Comprehensive Income | 1,474 | 1,539 | 3,053 | 3,071 |
Other Comprehensive Income (Loss) Other Net Of Tax | 525 | 1,359 | 647 | 1,522 |
Ending balance | (2,280) | (4,531) | (2,280) | (4,531) |
Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Accumulated Other Comprehensive Income [Line Items] | ||||
Beginning balance | 12,284 | 24,324 | 13,997 | 19,711 |
Other Comprehensive Income Loss Before Reclassifications Net Of Tax | 2,111 | (11,703) | (3,672) | (8,761) |
Reclassification Out Of Accumulated Other Comprehensive Income | 1,410 | 1,680 | 5,480 | 3,351 |
Other Comprehensive Income (Loss) Other Net Of Tax | 3,521 | (10,023) | 1,808 | (5,410) |
Ending balance | $ 15,805 | $ 14,301 | $ 15,805 | $ 14,301 |
Accumulated Other Comprehens113
Accumulated Other Comprehensive Income (Reclassifications out of other comprehensive income) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Residual tax effect from OIB's change in applicable tax rate AFS | $ 8,000 | $ 12,000 | $ 16,000 | $ 22,000 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Interest Rate Contract | 1,354,000 | 1,614,000 | 2,804,000 | 3,220,000 |
Tax effect from increase in capital gains tax rate, Cash flow hedges | 120,000 | (75,000) | 249,000 | (149,000) |
Other Than Temporary Impairment on securities | 2,557,000 | |||
Residual tax effect from OIB's change in applicable tax rate AFS | 8,000 | 12,000 | 16,000 | 22,000 |
Tax effect from increase in capital gains tax rate AFS | (72,000) | 129,000 | (146,000) | 258,000 |
Total | $ 1,410,000 | $ 1,680,000 | $ 5,480,000 | $ 3,351,000 |
Earnings Per Common Share (Narr
Earnings Per Common Share (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |||||
Stock Conversion Rate | 86.4225 | 86.4225 | |||
Weighted average stock anti dilutive effect excluded from calculation of earnings per share | 957,743 | 566,025 | 957,783 | 457,467 | |
Convertible Preferred Stock | $ 84,000 | $ 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 | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2016 | Mar. 31, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | |
Earnings Per Share [Abstract] | |||||||
Net (loss) income | $ 14,339 | $ 14,339 | $ (3,109) | $ 28,510 | $ (6,097) | $ 28,510 | $ (6,097) |
Non-Convertible Preferred Stock Dividend (Series A,B and D) | (1,629) | (1,628) | (3,256) | (3,256) | |||
Convertible Preferred Stock Dividend (Series C) | (1,837) | (1,838) | (3,675) | (3,675) | |||
Income available to common shareholders | 10,873 | (6,575) | 21,579 | (13,028) | |||
Effect of assumed conversion of convertible preferred stock | 1,837 | 1,838 | 3,675 | 3,675 | |||
Income available to common sharesholders assuming conversion | $ 12,710 | $ (4,737) | $ 25,254 | $ (9,353) | |||
Average common shares outstanding | 43,914 | 44,505 | 43,906 | 44,569 | |||
Average potential common shares options | 43 | 110 | 37 | 148 | |||
Average potential common shares convertible preferred stock | 7,138 | 7,159 | 7,138 | 7,159 | |||
Average common shares outstanding and equivalents | 51,095 | 51,774 | 51,081 | 51,876 | |||
Earnings per common share - basic | $ 0.25 | $ (0.15) | $ 0.49 | $ (0.29) | |||
Earnings per common share - diluted | $ 0.25 | $ (0.15) | $ 0.49 | $ (0.29) |
Guarantees (Narrative) (Details
Guarantees (Narrative) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Guarantee Obligations [Line Items] | |||||
Acquired standby letters of credit and financial guarantees | $ 2,300,000 | $ 2,300,000 | $ 14,700,000 | ||
Unpaid principal balance of residential subject loans subject to credit recourse | 21,100,000 | 21,100,000 | 22,400,000 | ||
Liability for estimated credit losses to loans sold with credit recourse | 162,000 | 162,000 | 439,000 | ||
Repurchased loans not subject to credit recourse provision | 817,000 | $ 2,700,000 | 2,300,000 | $ 11,700,000 | |
Losses from repurchased loans subject to credit recourse | 92,000 | 476,000 | 111,000 | 583,000 | |
Losses On Repurchased Loan Not Subject To Credit Recourse | 329,000 | 742,000 | 830,000 | 1,500,000 | |
Serviced mortgage loans for third parties | 726,600,000 | 726,600,000 | |||
Funds Advanced To Investors Under Servicing Agreements | 339,000 | 339,000 | $ 301,000 | ||
Loan with recourse [Member] | |||||
Guarantee Obligations [Line Items] | |||||
Repurchased GNMA | $ 83,000 | $ 1,200,000 | $ 288,000 | $ 3,400,000 |
Guarantees (Changes in liabilty
Guarantees (Changes in liabilty of estimated loss from credit recourse agreement) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Movement In Guaranteed Benefit Liability Gross Roll Forward | ||||
Balance at beginning of the period | $ 181,000 | $ 487,000 | $ 439,000 | $ 927,000 |
Net charge-off/terminations | (19,000) | (198,000) | (277,000) | (638,000) |
Balance at the end of the period | $ 162,000 | $ 289,000 | $ 162,000 | $ 289,000 |
Commitments (Narratives) (Detai
Commitments (Narratives) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Commitments and Contingencies [Abstract] | |||||
Rent Expenses | $ 2,300 | $ 2,300 | $ 4,400 | $ 4,700 | |
Line of credit reserve | $ 667 | $ 667 | $ 667 |
Commitments (Summarized credit-
Commitments (Summarized credit-related financial instruments) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Commitments and Contingencies [Abstract] | ||
Commitments To Extend Credit | $ 461,054 | $ 456,720 |
Commercial letters credit | 1,556 | 1,508 |
Standby letters of credit and financial guarantees | 4,756 | 14,656 |
Loans sold with recourse | $ 21,064 | $ 22,374 |
Commitments (Future rental comm
Commitments (Future rental commitments under leases) (Details) $ in Thousands | Jun. 30, 2016USD ($) |
Operating Leases, Future Minimum Payments Due [Abstract] | |
2,016 | $ 4,732 |
2,017 | 6,850 |
2,018 | 6,428 |
2,019 | 6,387 |
2,020 | 5,660 |
Thereafter | 12,500 |
Total | $ 42,557 |
Fair Value (Assets and liabilit
Fair Value (Assets and liabilities on recurring and non-recurring basis) (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | $ 664,302,000 | $ 974,609,000 |
Trading Securities | 348,000 | 288,000 |
Money Market Funds, at Carrying Value | 5,740,000 | 4,699,000 |
Derivative Assets | 1,926,000 | 3,025,000 |
Servicing Assets | 7,932,000 | 7,455,000 |
Derivative liabilities | (5,413,000) | (6,162,000) |
Impaired Commercial Loan | 219,393,000 | 235,767,000 |
Foreclosed real estate | 51,220,000 | 58,176,000 |
Other repossessed assets | 3,866,000 | 6,226,000 |
Total | 274,479,000 | 300,169,000 |
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 |
Trading Securities | 0 | |
Money Market Funds, at Carrying Value | 5,740,000 | 4,699,000 |
Derivative Assets | 0 | 0 |
Servicing Assets | 0 | 0 |
Derivative liabilities | 0 | |
Impaired Commercial Loan | 0 | 0 |
Foreclosed real estate | 0 | 0 |
Other repossessed assets | 0 | 0 |
Total | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 664,302,000 | 974,609,000 |
Trading Securities | 348,000 | 288,000 |
Money Market Funds, at Carrying Value | 0 | 0 |
Derivative Assets | 1,739,000 | 1,855,000 |
Servicing Assets | 0 | 0 |
Derivative liabilities | (5,413,000) | (6,162,000) |
Impaired Commercial Loan | 0 | 0 |
Foreclosed real estate | 0 | 0 |
Other repossessed assets | 0 | 0 |
Total | 0 | 0 |
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 |
Trading Securities | 0 | |
Money Market Funds, at Carrying Value | 0 | 0 |
Derivative Assets | 187,000 | 1,170,000 |
Servicing Assets | 7,932,000 | 7,455,000 |
Impaired Commercial Loan | 219,393,000 | 235,767,000 |
Foreclosed real estate | 51,220,000 | 58,176,000 |
Other repossessed assets | 3,866,000 | 6,226,000 |
Total | 274,479,000 | 300,169,000 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 664,302,000 | 974,609,000 |
Trading Securities | 348,000 | 288,000 |
Money Market Funds, at Carrying Value | 5,740,000 | 4,699,000 |
Derivative Assets | 1,926,000 | 3,025,000 |
Servicing Assets | 7,932,000 | 7,455,000 |
Derivative liabilities | (5,594,000) | (7,257,000) |
Total | 674,654,000 | 982,819,000 |
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 |
Trading Securities | 0 | 0 |
Money Market Funds, at Carrying Value | 5,740,000 | 4,699,000 |
Derivative Assets | 0 | 0 |
Servicing Assets | 0 | 0 |
Derivative liabilities | 0 | 0 |
Total | 5,740,000 | 4,699,000 |
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 | 664,302,000 | 974,609,000 |
Trading Securities | 348,000 | 288,000 |
Money Market Funds, at Carrying Value | 0 | 0 |
Derivative Assets | 1,739,000 | 1,855,000 |
Servicing Assets | 0 | 0 |
Derivative liabilities | (5,413,000) | (6,162,000) |
Total | 660,976,000 | 970,590,000 |
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 |
Trading Securities | 0 | 0 |
Money Market Funds, at Carrying Value | 0 | 0 |
Derivative Assets | 187,000 | 1,170,000 |
Servicing Assets | 7,932,000 | 7,455,000 |
Derivative liabilities | (181,000) | (1,095,000) |
Total | 7,938,000 | 7,530,000 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired Commercial Loan | 219,393,000 | 235,767,000 |
Foreclosed real estate | 51,220,000 | 58,176,000 |
Other repossessed assets | 3,866,000 | 6,226,000 |
Total | 274,479,000 | 300,169,000 |
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 | 219,393,000 | 235,767,000 |
Foreclosed real estate | 51,220,000 | 58,176,000 |
Other repossessed assets | 3,866,000 | 6,226,000 |
Total | $ 274,479,000 | $ 300,169,000 |
Fair Value (Reconciliation of a
Fair Value (Reconciliation of assets and liabilities using significant unobservable inputs (Level 3)) (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance | $ 7,845,000 | $ 12,281,000 | $ 7,531,000 | $ 14,070,000 |
Gains (losses) included in earnings | (28,000) | (79,000) | (98,000) | (118,000) |
Sale of mortgage servicng rights | (6,985,000) | (6,985,000) | ||
New instruments acquired | 717,000 | 1,529,000 | 1,275,000 | 2,060,000 |
Change due to payments on loans | (121,000) | (313,000) | (225,000) | (732,000) |
Amortization | 8,000 | 56,000 | 28,000 | 134,000 |
Changes in fair value related to pricr of MSRs held for sale | (835,000) | (2,716,000) | ||
Changes in fair value of servicing assets | (483,000) | 231,000 | (573,000) | 172,000 |
Balance | 7,938,000 | 5,885,000 | 7,938,000 | 5,885,000 |
Derivative Financial Instruments, Assets [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance | 772,000 | 3,734,000 | 1,171,000 | 5,555,000 |
Gains (losses) included in earnings | (585,000) | (1,596,000) | (984,000) | (3,417,000) |
Sale of mortgage servicng rights | 0 | 0 | ||
New instruments acquired | 0 | 0 | 0 | 0 |
Change due to payments on loans | 0 | 0 | 0 | 0 |
Amortization | 0 | 0 | 0 | 0 |
Changes in fair value related to pricr of MSRs held for sale | 0 | 0 | ||
Changes in fair value of servicing assets | 0 | 0 | 0 | 0 |
Balance | 187,000 | 2,138,000 | 187,000 | 2,138,000 |
Servicing Assets [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance | 7,819,000 | 12,164,000 | 7,455,000 | 13,992,000 |
Gains (losses) included in earnings | 0 | 0 | 0 | 0 |
Sale of mortgage servicng rights | (6,985,000) | (6,985,000) | ||
New instruments acquired | 717,000 | 1,529,000 | 1,275,000 | 2,060,000 |
Change due to payments on loans | (121,000) | (313,000) | (225,000) | (732,000) |
Amortization | 0 | 0 | 0 | 0 |
Changes in fair value related to pricr of MSRs held for sale | (835,000) | (2,716,000) | ||
Changes in fair value of servicing assets | (483,000) | 231,000 | (573,000) | 172,000 |
Balance | 7,932,000 | 5,791,000 | 7,932,000 | 5,791,000 |
Derivative Financial Instruments, Liabilities [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance | (746,000) | (3,617,000) | (1,095,000) | (5,477,000) |
Gains (losses) included in earnings | 557,000 | 1,517,000 | 886,000 | 3,299,000 |
Sale of mortgage servicng rights | 0 | 0 | ||
New instruments acquired | 0 | 0 | 0 | 0 |
Change due to payments on loans | 0 | 0 | 0 | 0 |
Amortization | 8,000 | 56,000 | 28,000 | 134,000 |
Changes in fair value related to pricr of MSRs held for sale | 0 | 0 | ||
Changes in fair value of servicing assets | 0 | 0 | 0 | 0 |
Balance | $ (181,000) | $ (2,044,000) | $ (181,000) | $ (2,044,000) |
Fair Value (Qualitative informa
Fair Value (Qualitative information for assets and liabilities) (Details) - Fair Value, Inputs, Level 3 [Member] $ in Thousands | 3 Months Ended |
Jun. 30, 2016USD ($) | |
Fair Value Inputs Assets Quantitative Information [Line Items] | |
Fair Value assets and liabilities measured on reccurring basis | $ 187 |
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 | 41.87% |
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 | 41.87% |
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 | $ 7,932 |
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 | 4.41% |
Discount rate | 10.00% |
Servicing Assets [Member] | Cash Flow Valuation Technique [Member] | Maximum [Member] | |
Fair Value Inputs Assets Quantitative Information [Line Items] | |
Constant prepayment rate | 11.40% |
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 | $ (181) |
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 | 41.87% |
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 | 41.87% |
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 | $ 28,558 |
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 | 29.20% |
Collateral dependant impaired loan | Fair value of property or collateral [Member] | Maximum [Member] | |
Fair Value Inputs Assets Quantitative Information [Line Items] | |
Appraised value | 43.20% |
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 | $ 183,020 |
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 | $ 7,814 |
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 | 4.25% |
Other non-collateral dependant impaired loans [Member] | Cash Flow Valuation Technique [Member] | Maximum [Member] | |
Fair Value Inputs Assets Quantitative Information [Line Items] | |
Discount rate | 10.50% |
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 | $ 51,220 |
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 | 29.20% |
Foreclosed real estate [Member] | Fair value of property or collateral [Member] | Maximum [Member] | |
Fair Value Inputs Assets Quantitative Information [Line Items] | |
Appraised value | 43.20% |
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 | $ 3,866 |
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 | 29.20% |
Other repossessed assets [Member] | Fair value of property or collateral [Member] | Maximum [Member] | |
Fair Value Inputs Assets Quantitative Information [Line Items] | |
Appraised value | 43.20% |
Fair value (Estimated fair valu
Fair value (Estimated fair value and carrying value) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
Assets, Fair Value Disclosure [Abstract] | ||||||
Trading Securities | $ 348 | $ 288 | ||||
Available-for-sale Securities | 664,302 | 974,609 | ||||
Held to maturity Fair Value | 643,530 | 614,679 | ||||
Federal Home Loan Bank (FHLB) stock | 19,838 | 20,783 | ||||
Other Investments | 3 | 3 | ||||
Derivative Assets | 1,926 | 3,025 | ||||
Servicing Assets | 7,932 | 7,455 | ||||
Liabilities, Fair Value Disclosure [Abstract] | ||||||
Derivative liabilities | 5,413 | 6,162 | ||||
Assets,Carrying Value [Abstract] | ||||||
Total cash and cash equivalents | 517,048 | 536,709 | $ 553,535 | $ 573,427 | ||
Restricted Cash And Cash Equivalents | 3,030 | 3,349 | ||||
Trading Securities | 348 | 288 | ||||
Investment securities AFS , carrying value | 664,302 | 974,609 | ||||
Loans, net of allowance for loan and lease losses | 4,350,789 | 4,416,396 | ||||
Carrying amount, net | 1,015,702 | 1,123,435 | ||||
FDIC Indemnification Asset | 18,426 | $ 20,923 | 22,599 | $ 22,704 | $ 75,221 | $ 97,378 |
Accrued interest receivable | 20,009 | 20,637 | ||||
Liabilities,Carrying Value Disclosure [Abstract] | ||||||
Deposits, Total | 4,644,054 | 4,717,751 | ||||
Securities Sold under Agreements to Repurchase | 626,109 | 934,691 | ||||
Subordinated capital notes | 102,983 | 102,633 | ||||
Accrued expenses and other liabilities | 88,930 | 92,043 | ||||
Derivative liabilities at carrying value | 5,413 | 6,162 | ||||
Fair Value, Inputs, Level 1 [Member] | ||||||
Assets, Fair Value Disclosure [Abstract] | ||||||
Cash and Cash Equivalents, Fair Value Disclosure | 517,048 | 536,709 | ||||
Restricted Cash, at Fair Value | 3,030 | 3,349 | ||||
Available-for-sale Securities | 0 | 0 | ||||
Derivative Assets | 0 | 0 | ||||
Servicing Assets | 0 | 0 | ||||
Liabilities, Fair Value Disclosure [Abstract] | ||||||
Derivative liabilities | 0 | |||||
Assets,Carrying Value [Abstract] | ||||||
Restricted Cash And Cash Equivalents | 3,030 | 3,349 | ||||
Trading Securities | 0 | |||||
Fair Value, Inputs, Level 2 [Member] | ||||||
Assets, Fair Value Disclosure [Abstract] | ||||||
Trading Securities | 348 | 288 | ||||
Available-for-sale Securities | 664,302 | 974,609 | ||||
Held to maturity Fair Value | 643,530 | 614,679 | ||||
Federal Home Loan Bank (FHLB) stock | 19,838 | 20,783 | ||||
Other Investments | 3 | 3 | ||||
Derivative Assets | 1,739 | 1,855 | ||||
Receivables, Fair Value Disclosure | 20,637 | |||||
Servicing Assets | 0 | 0 | ||||
Liabilities, Fair Value Disclosure [Abstract] | ||||||
Derivative liabilities | 5,413 | 6,162 | ||||
Assets,Carrying Value [Abstract] | ||||||
Trading Securities | 348 | 288 | ||||
Investment securities AFS , carrying value | 664,302 | 974,609 | ||||
Investment held for sale, carrying amount | 635,399 | 620,189 | ||||
Federal Home Loan Bank Stock at carrying value | 19,838 | 20,783 | ||||
Other Investment, Carrying Value | 3 | 3 | ||||
Derivative Assets, carrying value | 1,739 | 1,855 | ||||
Liabilities,Carrying Value Disclosure [Abstract] | ||||||
Derivative liabilities at carrying value | 5,413 | 6,162 | ||||
Fair Value, Inputs, Level 3 [Member] | ||||||
Assets, Fair Value Disclosure [Abstract] | ||||||
Available-for-sale Securities | 0 | 0 | ||||
Non-covered loans, net | 4,163,769 | 4,101,219 | ||||
Derivative Assets | 187 | 1,170 | ||||
FDIC Indemnification Asset Fair Value Disclosure | 11,064 | 17,786 | ||||
Receivables, Fair Value Disclosure | 20,009 | 20,637 | ||||
Servicing Assets | 7,932 | 7,455 | ||||
Liabilities, Fair Value Disclosure [Abstract] | ||||||
Deposits, Fair Value Disclosure | 4,633,864 | 4,705,878 | ||||
Securities sold under agreements to repurchase | 630,933 | 955,859 | ||||
Advances from FHLB | 308,583 | 335,812 | ||||
Notes Payable Fair Value Disclosure | 2,599 | 2,593 | ||||
Subordinated capital notes | 98,944 | 94,940 | ||||
Accrued expenses and other liabilities | 88,930 | 92,935 | ||||
Assets,Carrying Value [Abstract] | ||||||
Trading Securities | 0 | |||||
Loans, net of allowance for loan and lease losses | 4,373,617 | 4,434,213 | ||||
Derivative Assets, carrying value | 187 | 1,170 | ||||
FDIC Indemnification Asset | 18,426 | 22,599 | ||||
Accrued interest receivable | 20,009 | 20,637 | ||||
Servicing assets, carrying value | 7,932 | 7,455 | ||||
Liabilities,Carrying Value Disclosure [Abstract] | ||||||
Deposits, Total | 4,643,873 | 4,715,764 | ||||
Securities Sold under Agreements to Repurchase | 626,109 | 934,691 | ||||
Advances from FHLB | 306,480 | 332,476 | ||||
Term Notes | 1,753 | 1,734 | ||||
Subordinated capital notes | 102,983 | 102,633 | ||||
Accrued expenses and other liabilities | 88,930 | 92,935 | ||||
Derivative liabilities at carrying value | $ 181 | $ 1,095 |
Business Segments (Details)
Business Segments (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Segment Reporting Information [Line Items] | |||||
Total interest income | $ 87,908 | $ 99,413 | $ 179,214 | $ 206,414 | |
Interest expense | (14,596) | (17,121) | (30,927) | (34,487) | |
Net interest income | 73,312 | 82,292 | 148,287 | 171,927 | |
Provision for Loan and Lease Losses, net | (14,445) | (15,539) | (28,234) | (57,732) | |
Total non-interest income (loss), net | 15,155 | (4,656) | 28,658 | 2,225 | |
Non-interest expenses | (53,825) | (64,437) | (108,682) | (120,769) | |
Intersegment revenues | 0 | 0 | 0 | 0 | |
Intersegment expenses | 0 | 0 | 0 | 0 | |
Income (loss) before Income Taxes, Parent | 20,197 | (2,340) | 40,029 | (4,349) | |
Total assets | 6,712,596 | 6,712,596 | $ 7,099,149 | ||
Banking [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total interest income | 79,675 | 90,504 | 160,827 | 187,986 | |
Interest expense | (7,300) | (7,110) | (14,107) | (14,564) | |
Net interest income | 72,375 | 83,394 | 146,720 | 173,422 | |
Provision for Loan and Lease Losses, net | (14,445) | (15,539) | (28,234) | (57,732) | |
Total non-interest income (loss), net | 8,214 | (11,713) | 16,009 | (13,962) | |
Non-interest expenses | (47,098) | (56,844) | (97,786) | (106,156) | |
Intersegment revenues | 389 | 163 | 787 | 707 | |
Intersegment expenses | (49) | (61) | (149) | (159) | |
Income (loss) before Income Taxes, Parent | 19,386 | (600) | 37,347 | (3,880) | |
Total assets | 5,829,987 | 6,153,663 | 5,829,987 | 6,153,663 | |
Financial Services | |||||
Segment Reporting Information [Line Items] | |||||
Total interest income | 16 | 24 | 34 | 47 | |
Interest expense | 0 | 0 | 0 | 0 | |
Net interest income | 16 | 24 | 34 | 47 | |
Provision for Loan and Lease Losses, net | 0 | 0 | 0 | 0 | |
Total non-interest income (loss), net | 6,910 | 6,893 | 12,930 | 13,903 | |
Non-interest expenses | (4,908) | (6,733) | (7,853) | (11,524) | |
Intersegment revenues | 0 | 0 | 0 | 0 | |
Intersegment expenses | (286) | (87) | (577) | (518) | |
Income (loss) before Income Taxes, Parent | 1,732 | 97 | 4,534 | 1,908 | |
Total assets | 19,054 | 21,157 | 19,054 | 21,157 | |
Treasury [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total interest income | 8,217 | 8,885 | 18,353 | 18,381 | |
Interest expense | (7,296) | (10,011) | (16,820) | (19,923) | |
Net interest income | 921 | (1,126) | 1,533 | (1,542) | |
Provision for Loan and Lease Losses, net | 0 | 0 | 0 | 0 | |
Total non-interest income (loss), net | 31 | 164 | (281) | 2,284 | |
Non-interest expenses | (1,820) | (860) | (3,043) | (3,089) | |
Intersegment revenues | 49 | 61 | 149 | 160 | |
Intersegment expenses | (103) | (76) | (210) | (189) | |
Income (loss) before Income Taxes, Parent | (922) | (1,837) | (1,852) | (2,376) | |
Total assets | 1,800,838 | 2,136,293 | 1,800,838 | 2,136,293 | |
Major Segment [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total interest income | 87,908 | 99,413 | 179,214 | 206,414 | |
Interest expense | (14,596) | (17,121) | (30,927) | (34,487) | |
Net interest income | 73,312 | 82,292 | 148,287 | 171,927 | |
Provision for Loan and Lease Losses, net | (14,445) | (15,539) | (28,234) | (57,732) | |
Total non-interest income (loss), net | 15,155 | (4,656) | 28,658 | 2,225 | |
Non-interest expenses | (53,826) | (64,437) | (108,682) | (120,769) | |
Intersegment revenues | 438 | 224 | 936 | 866 | |
Intersegment expenses | (438) | (224) | (936) | (866) | |
Income (loss) before Income Taxes, Parent | 20,196 | (2,340) | 40,029 | (4,349) | |
Total assets | 7,649,879 | 8,311,113 | 7,649,879 | 8,311,113 | |
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 | (438) | (224) | (936) | (866) | |
Intersegment expenses | 438 | 224 | 936 | 866 | |
Income (loss) before Income Taxes, Parent | 0 | 0 | 0 | 0 | |
Total assets | (937,283) | (912,788) | (937,283) | (912,788) | |
Consolidated Total [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total interest income | 99,413 | 179,214 | 206,414 | ||
Interest expense | (17,121) | (30,927) | (34,487) | ||
Net interest income | 82,292 | 148,287 | 171,927 | ||
Provision for Loan and Lease Losses, net | (15,539) | (28,234) | (57,732) | ||
Total non-interest income (loss), net | (4,656) | 28,658 | 2,225 | ||
Non-interest expenses | (64,437) | (108,682) | (120,769) | ||
Intersegment revenues | 0 | 0 | 0 | ||
Intersegment expenses | 0 | 0 | 0 | ||
Income (loss) before Income Taxes, Parent | (2,340) | 40,029 | (4,349) | ||
Total assets | $ 6,712,596 | $ 7,398,325 | $ 6,712,596 | $ 7,398,325 |