Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2016 | Oct. 31, 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 | Sep. 30, 2016 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q3 | |
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 | Sep. 30, 2016 | Dec. 31, 2015 |
Cash and cash equivalents | ||
Cash and Due from Banks | $ 503,805 | $ 532,010 |
Money market investments | 5,460 | 4,699 |
Total cash and cash equivalents | 509,265 | 536,709 |
Restricted Cash | 3,030 | 3,349 |
Investments: | ||
Trading Securities, at fair value | 380 | 288 |
Investment securities available-for-sale, at fair value | 642,683 | 974,609 |
Investment securities held-to-maturity, at amortized cost | 641,890 | 620,189 |
Federal Home Loan Bank (FHLB) stock, at cost | 12,712 | 20,783 |
Other investments | 3 | 3 |
Total investments | 1,297,668 | 1,615,872 |
Loans: | ||
Mortgage loans held-for-sale, at lower of cost or fair value | 26,362 | 13,614 |
Other Loans Held for Sale | 123,137 | 0 |
Loans held for investment, net | 4,149,466 | 4,420,599 |
Total loans, net | 4,298,965 | 4,434,213 |
Other asset | ||
FDIC indemnification asset | 16,670 | 22,599 |
Foreclosed real estate not covered under shared-loss agreements with the FDIC | 45,740 | 58,176 |
Accrued interest receivable | 17,966 | 20,637 |
Deferred tax asset, net | 131,061 | 145,901 |
Premises and equipment, net | 71,105 | 74,590 |
Customers' liability on acceptances | 18,043 | 14,582 |
Servicing Assets | 8,393 | 7,455 |
Derivative assets | 1,503 | 3,025 |
Goodwill | 86,069 | 86,069 |
Other assets | 86,635 | 75,972 |
Total assets | 6,592,113 | 7,099,149 |
Deposits: | ||
Demand deposits | 2,012,255 | 1,862,572 |
Savings accounts | 1,184,081 | 1,179,229 |
Tme Deposits | 1,558,435 | 1,675,950 |
Total deposits | 4,754,771 | 4,717,751 |
Borrowings: | ||
Securities Sold under Agreements to Repurchase | 658,232 | 934,691 |
Advances from FHLB | 105,944 | 332,476 |
Subordinated capital notes | 36,083 | 102,633 |
Other borrowings | 40 | 1,734 |
Total borrowings | 800,299 | 1,371,534 |
Derivative liabilities | 4,306 | 6,162 |
Acceptances executed and outstanding | 18,043 | 14,582 |
Accrued expenses and other liabilities | 89,760 | 92,043 |
Total liabilities | 5,667,179 | 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 | 540,692 | 540,512 |
Legal surplus | 74,788 | 70,435 |
Retained earnings | 169,858 | 148,886 |
Treasury stock, at cost | (104,874) | (105,379) |
Accumulated Other Comprehensive Income (Loss), Net of Tax | 15,844 | 13,997 |
Total stockholders' equity | 924,934 | 897,077 |
Total liabilities and stockholders' equity | $ 6,592,113 | $ 7,099,149 |
Consolidated Statements of Fin3
Consolidated Statements of Financial Condition (Unaudited) (Parenthetical) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Amortized cost of trading securities | $ 667,000 | $ 667,000 |
Amortized cost of investment securities available-for-sale | 623,994,000 | 955,646,000 |
Fair value of held to maturity securities | 650,023,000 | 614,679,000 |
Allowance for loan and lease losses | $ 119,012,000 | $ 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) | $ 43,000 | $ 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 | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Interest income: | ||||
Total interest income from loans | $ 82,604 | $ 97,264 | $ 243,431 | $ 285,251 |
Mortgage-backed securities | 6,997 | 9,137 | 23,215 | 25,724 |
Investment securities and other | 983 | 846 | 3,152 | 2,686 |
Total interest income | 90,584 | 107,247 | 269,798 | 313,661 |
Interest expense: | ||||
Deposits | 7,331 | 6,651 | 21,822 | 20,359 |
Securities sold under agreements to repurchase | 4,272 | 7,605 | 14,629 | 22,163 |
Advances from FHLB and other borrowings | 1,237 | 2,283 | 5,574 | 6,766 |
Subordinated capital notes | 817 | 885 | 2,559 | 2,623 |
Total interest expense | 13,657 | 17,424 | 44,584 | 51,911 |
Net interest income | 76,927 | 89,823 | 225,214 | 261,750 |
Provision for Loan, Lease, and Other Losses | 23,469 | 51,579 | 51,703 | 109,311 |
Net interest income after provision for loan and lease losses | 53,458 | 38,244 | 173,511 | 152,439 |
Non-interest income: | ||||
Banking service revenues | 10,330 | 10,826 | 30,667 | 31,243 |
Wealth management revenue | 6,526 | 6,885 | 19,719 | 21,325 |
Mortgage banking activities | 1,421 | 992 | 3,300 | 4,717 |
Total Banking and Financial Service Revenues | 18,277 | 18,703 | 53,686 | 57,285 |
Net impairment losses recognized in earnings | 0 | (246) | 0 | (246) |
FDIC shared-loss expense, net [Abstract] | ||||
FDIC shared-loss expense, net | (3,296) | (2,079) | (10,745) | (38,408) |
Reimbursement from FDIC shared-loss coverage in sale of loans | 0 | 20,000 | 0 | 20,000 |
Net gain (loss) on: | ||||
Sale of securities | 0 | 0 | 12,207 | 2,572 |
Derivatives | 17 | (208) | 4 | (223) |
Early extinguishment of debt | 0 | 0 | (12,000) | 0 |
Other non-interest (loss) income | 5,217 | (193) | 5,721 | (2,778) |
Total non-interest income, net | 20,215 | 35,977 | 48,873 | 38,202 |
Non-interest expense: | ||||
Compensation and employee benefits | 19,191 | 21,015 | 58,006 | 60,455 |
Professional and service fees | 3,744 | 4,000 | 10,881 | 12,324 |
Occupancy and equipment | 7,484 | 8,556 | 23,413 | 26,075 |
Insurance | 1,242 | 2,263 | 7,547 | 6,467 |
Electronic banking charges | 5,077 | 5,496 | 15,613 | 16,714 |
Information technology related expenses | 1,862 | 1,364 | 5,124 | 4,360 |
Advertising, business promotion, and strategic initiatives | 1,347 | 1,577 | 4,133 | 4,763 |
Foreclosure, repossession and other real estate expenses | 5,279 | 16,601 | 13,250 | 32,384 |
Loan servicing and clearing expenses | 2,804 | 1,976 | 6,811 | 6,923 |
Taxes, other than payroll and income taxes | 2,385 | 2,649 | 7,386 | 6,831 |
Communication | 617 | 774 | 2,017 | 2,234 |
Printing, postage, stationary and supplies | 602 | 624 | 1,927 | 1,842 |
Director and investors relations | 233 | 246 | 812 | 829 |
Other | 3,059 | 1,949 | 6,688 | 7,658 |
Total non-interest expense | 54,926 | 69,090 | 163,608 | 189,859 |
Income before income taxes | 18,747 | 5,131 | 58,776 | 782 |
Income tax expense (benefit) | 3,627 | 562 | 15,146 | 2,310 |
Net (loss) income | 15,120 | 4,569 | 43,630 | (1,528) |
Dividends on preferred stock | (3,465) | (3,465) | (10,396) | (10,396) |
Income (loss) available to common shareholders | $ 11,655 | $ 1,104 | $ 33,234 | $ (11,924) |
Earnings (loss) per common share: | ||||
Basic | $ 0.27 | $ 0.03 | $ 0.76 | $ (0.27) |
Diluted | $ 0.26 | $ 0.03 | $ 0.76 | $ (0.27) |
Average common shares outstanding and equivalents | 51,111 | 51,146 | 51,091 | 51,609 |
Cash dividends per share of common stock | $ 0.06 | $ 0.1 | $ 0.18 | $ 0.3 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Consolidated Statements of Comprehensive Income (Loss) [Abstract] | ||||
Net (loss) income | $ 15,120 | $ 4,569 | $ 43,630 | $ (1,528) |
Other comprehensive income (loss) before tax: | ||||
Unrealized gain (loss) on securities available-for-sale | (315) | 3,958 | 12,049 | (1,582) |
Realized gain on investment securities included in net income | 0 | 0 | (12,207) | (2,572) |
Portion of loss on securities recognized in other comprehensive income | 0 | (246) | 0 | (246) |
Unrealized gain (loss) on cash flow hedges | 853 | 119 | 1,504 | 2,190 |
Other comprehensive income (loss) before taxes | 538 | 4,323 | 1,346 | (1,718) |
Income tax effect | (499) | (468) | 501 | 163 |
Other Comprehensive Income (Loss) After taxes | 39 | 3,855 | 1,847 | (1,555) |
Comprehensive income (loss) | $ 15,159 | $ 8,424 | $ 45,477 | $ (3,083) |
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 | 1,213 | |||||||
Lapsed restricted stock units | (436) | 641 | ||||||
Transfer from retained earnings/transfer to legal surplus | (44) | 44 | ||||||
Net (loss) income | $ (1,528) | (1,528) | ||||||
Cash dividends declared on common stock | (13,298) | |||||||
Cash dividends declared on preferred stock | (10,396) | |||||||
Stock purchased | 8,950 | (8,950) | ||||||
Other comprehensive loss, net of tax | (1,555) | (1,555) | ||||||
Ending Balance at Sep. 30, 2015 | 907,888 | 176,000 | 52,626 | 540,088 | 70,423 | 155,974 | (105,379) | 18,156 |
Beginning Balance at Dec. 31, 2014 | 176,000 | 52,626 | 539,311 | 70,467 | 181,152 | (97,070) | 19,711 | |
Net (loss) income | 43,630 | |||||||
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 | 1,014 | |||||||
Lapsed restricted stock units | (834) | 505 | ||||||
Transfer from retained earnings/transfer to legal surplus | 4,353 | (4,353) | ||||||
Net (loss) income | 43,630 | 43,630 | ||||||
Cash dividends declared on common stock | (7,909) | |||||||
Cash dividends declared on preferred stock | (10,396) | |||||||
Stock purchased | 0 | 0 | ||||||
Other comprehensive loss, net of tax | 1,847 | 1,847 | ||||||
Ending Balance at Sep. 30, 2016 | $ 924,934 | $ 176,000 | $ 52,626 | $ 540,692 | $ 74,788 | $ 169,858 | $ (104,874) | $ 15,844 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Cash flows from operating activities: | ||
Net (loss) income | $ 43,630 | $ (1,528) |
Adjustments to reconcile net income to net cash provied by (used in) operating activities: | ||
Amortization of deferred loan origination fees, net of costs | 2,849 | 2,515 |
Amortization of fair value premiums, net of discounts, on acquired loans | 39 | 2,972 |
Amortization of investment securities premiums, net of accretion of discounts | 6,541 | 9,312 |
Amortization of core deposit and customer relationship intangibles | 1,258 | 1,429 |
Amortization of fair value premium of acquired deposits | 268 | 569 |
FDIC Loss Share Expense | 10,745 | 38,408 |
Other Than Temporary Impairment on securities | 0 | 246 |
Reimbursement from the FDIC shared-loss coverage in sale of loans | 0 | (20,000) |
Depreciation and amortization of premises and equipment | 7,229 | 8,538 |
Deferred income taxes, net | 15,176 | (1,329) |
Provision for loan and lease losses, net | 51,703 | 109,311 |
Stock-based compensation | 1,014 | 1,213 |
(Gain) loss on: | ||
Sale of securities | (12,207) | (2,572) |
Sale of mortgage loans held for sale | (1,294) | (2,595) |
Gain on sale of derivatives and on sale of TBA | 78 | (26) |
Early extinguishment of debt | 12,000 | 0 |
Foreclosed real estate | 10,580 | 30,608 |
Sale of other repossessed asset | (1,498) | 4,585 |
Sale of premises and equipment | 12 | 193 |
Originations of loans held-for-sale | (134,189) | (165,333) |
Proceeds from sale of loans held-for-sale | 51,238 | 76,953 |
Net (increase) decrease in: | ||
Trading securities | (92) | 1,011 |
Accrued interest receivable | 2,671 | 2,720 |
Servicing Assets | (938) | 544 |
Other assets | (13,394) | (18,263) |
Net increase (decrease) in: | ||
Accrued interest on deposits and borrowings | (1,013) | (745) |
Accrued expenses and other liabilities | (5,594) | (11,923) |
Net cash provided by (used in) operating activities | 46,812 | 66,813 |
Purchases of: | ||
Investment securities available-for-sale | (676) | (3,747) |
Investment securities held-to-maturity | (81,261) | (458,229) |
FHLB stock | (20,398) | 0 |
Maturities and Redemptions of [Abstract] | ||
Investment securities available-for-sale | 112,444 | 187,052 |
Investments securities held-to-maturity | 56,058 | 24,753 |
FHLB Stock | 28,469 | 365 |
Proceeds from sale of: | ||
Investment securities available for sale | 300,483 | 103,831 |
Foreclosed real estate and other repossessed assets, including write-offs | 36,983 | 63,959 |
Proceeds From Sale Of Loans Held For Investment | 1,149 | 30,669 |
Gain (Loss) on Sale of Property Plant Equipment | (48) | 76 |
Proceeds From Sale Of Mortgage Servicing Rights MSR | 0 | 5,927 |
Origination and purchase of loans, excluding loans held-for-sale | (555,658) | (611,815) |
Principal repayment of loans, including covered loans | 616,518 | 722,579 |
Reimbursements from the FDIC on shared-loss agreements | 824 | 46,356 |
Additions to premises and equipment | (3,804) | (3,402) |
Net change in restricted cash | (319) | (4,058) |
Net cash provided by investing activities | 491,498 | 112,280 |
Net increase (decrease) in: | ||
Deposits | 35,449 | (211,637) |
Securities sold under agreements to repurchase | (287,865) | 20,717 |
FHLB advances, federal funds purchased, and other borrowings | (228,157) | (3,676) |
Subordinated capital notes | (66,550) | 787 |
Exercise of stock options and restricted units lapsed, net | (329) | 204 |
Purchase of treasury stock | 0 | (8,950) |
Dividends paid on preferred stock | (10,396) | (10,396) |
Dividends paid on common stock | (7,906) | (13,373) |
Net cash used in financing activities | (565,754) | (226,324) |
Net change in cash and cash equivalents | (27,444) | (47,231) |
Cash and cash equivalents at beginning of period | 536,709 | |
Cash and cash equivalents at end of period | 509,265 | |
Supplemental Cash Flow Disclosure and Schedule of Non-cash Activities: | ||
Interest paid | 44,316 | 51,471 |
Income Taxes Paid | 7,389 | 10,598 |
Mortgage loans securitized into mortgage-backed securities | 71,315 | 87,609 |
Transfer from loans to foreclosed real estate and other repossessed assets | 32,535 | 56,510 |
Reclassification of loans held-for-investment portfolio to held-for-sale portfolio | 123,137 | 1,453 |
Reclassification of loans held-for-sale portfolio to investment portfolio | $ 182 | $ 156 |
Organization, Consolidation and
Organization, Consolidation and Basis of Presentation | 9 Months Ended |
Sep. 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 August 2016, the Financial Accounting Standards Board (FASB) issued new accounting guidance that a ddresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. The amendments in this u pdate apply to all entities, including both business entities and not-for-profit entities that are required to present a statement of cash flows under Topic 230. The amendments in this u pdate clarifies whether the following items shoul d be categorized as operating, investing or financing in the statement of cash flows: ( i ) debt prepayments and extinguishment costs, (ii) settlement of zero-coupon debt, (iii) settlement of contingent consideration, (iv) insurance proceeds, (v) settlement of corporate-owned life insurance (COLI) and bank-owned life insurance (BOLI) policies, (vi) distributions from equity method investees, (vii) beneficial interests in securitization transactions, and (viii) receipts and payments with aspects of more than o ne class of cash flows. The new guidance is effective on Ja nuary 1, 2018. The Company does not expect the new accounting guidance to have a material impact on its statement of cash flows. In June 2016, the FASB issued new accounting guidance that will req uire 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 fo r financial instruments held at the reporting date based on historical experience, current conditions and reasonable and supportable forecasts. The expected loss model will apply to loans and leases, unfunded lending commitments, held-to-maturity (HTM) deb t securities and other debt instruments measured at amortized cost. The impairment 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, r egardless of whether the impairment is considered to be other-than-temporary. 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 th is 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 liab ilities, and classification on the statement of cash flows. The new guidance 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 consoli dated financial position or results of operations. In February 2016, the FASB 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 evaluati ng the impact of the provisions of this new accounting guidance on its consolidated financial position. In January 2 016, the FASB issued new accounting guidance on recognition and measurement of financial instruments. The new guidance makes targeted changes to existing Generally Accepted Accounting Principles ( GAAP ) including, among other provisions, requiring certain e quity investments to be measured 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 ne w 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 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 . |
Resticted Cash
Resticted Cash | 9 Months Ended |
Sep. 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 : September 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 September 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 September 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 September 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 September 30 , 2016 was $ 15 7 .5 million ( December 31 , 2015 - $ 14 8 . 3 million). At September 30 , 2016 and December 31 , 2015 , the Bank complied with such requirement. Cash and due from bank as well as other short-term, highly liquid secur ities are used to cover the required average reserve balances . |
Investment Securities
Investment Securities | 9 Months Ended |
Sep. 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 September 30 , 2016 and December 31 , 2015 , money market instruments i ncluded as part of cash and cash equivalents amounted to $5.5 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 September 30 , 2016 and December 31 , 2015 were as follows: September 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 $ 376,242 $ 13,365 $ - $ 389,607 2.60% GNMA certificates 125,188 5,797 - 130,985 3.02% CMOs issued by US government-sponsored agencies 111,808 398 370 111,836 1.88% Total mortgage-backed securities 613,238 19,560 370 632,428 2.56% Investment securities Obligations of US government-sponsored agencies 4,170 - 5 4,165 1.37% Obligations of Puerto Rico government and public instrumentalities 4,680 - 607 4,073 5.55% Other debt securities 1,906 111 - 2,017 2.94% Total investment securities 10,756 111 612 10,255 3.47% Total securities available for sale $ 623,994 $ 19,671 $ 982 $ 642,683 2.57% Held-to-maturity Mortgage-backed securities FNMA and FHLMC certificates $ 616,883 8,141 18 625,006 2.17% Investment securities US Treasury securities 25,007 10 - 25,017 0.49% Total securities held to maturity 641,890 8,151 18 650,023 2.11% Total $ 1,265,884 $ 27,822 $ 1,000 $ 1,292,706 2.34% 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 political subdivisions 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 September 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. September 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 1 to 5 years FNMA and FHLMC certificates $ 11,294 $ 11,629 $ - $ - Total due from 1 to 5 years 11,294 11,629 - - Due from 5 to 10 years CMOs issued by US Government-sponsored agencies 2,244 2,245 - - FNMA and FHLMC certificates 27,173 27,837 - - Total due from 5 to 10 years 29,417 30,082 - - Due after 10 years FNMA and FHLMC certificates 337,775 350,141 616,883 625,006 GNMA certificates 125,188 130,985 - - CMOs issued by US government-sponsored agencies 109,564 109,591 - - Total due after 10 years 572,527 590,717 616,883 625,006 Total mortgage-backed securities 613,238 632,428 616,883 625,006 Investment securities US Treasury securities - - 25,007 25,017 Total due in less than one year - - 25,007 25,017 Due from 1 to 5 years Obligations of Puerto Rico government and public instrumentalities 4,680 4,073 - - Total due from 1 to 5 years 4,680 4,073 - - Due from 5 to 10 years Obligations of US government and sponsored agencies 4,170 4,165 - - Other debt securities 1,906 2,017 - - Total due from 5 to 10 years 6,076 6,182 - - Total investment securities 10,756 10,255 25,007 25,017 Total securities available-for-sale and held-to-maturity $ 623,994 $ 642,683 $ 641,890 $ 650,023 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 nine-month period ended September 30, 2016, the Company retained securitized Government National Mortgage Association ("GNMA") poo ls totaling $ 71.8 million amortized cost, at a yield of 2.99 % from its own originations. Previously, the Company was selling all securitized GNMA pools. The GNMA pools were sold until June 2015. During the first half of 2015 , the Co mpany sold $ 63.5 million 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 nine-month period ended Septe mber 30 , 2016, the Company sold $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 Puert o Rico government bonds it held. The Company had other-than-temporary impairment charges on such securities sold totaling $1.5 million during the second half of 2015. During the nine-month period ended September 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 . Nine-Month Period Ended September 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 Nine-Month Period Ended September 30, 2015 Book Value Description Sale Price at Sale Gross Gains Gross Losses (In thousands) Sale of securities available-for-sale Mortgage-backed securities FNMA and FHLMC certificates $ 40,307 $ 37,736 $ 2,571 $ - GNMA certificates 63,524 63,523 1 - Total $ 103,831 $ 101,259 $ 2,572 $ - The following table s show the Company ’s gross unrealized losses and fair value of investment securities availab le-for-sale and held-to-maturity , aggregated by investment category and the length of time that individual securities have been in a continuo us unrealized loss position at September 30 , 2016 and December 31 , 2015 : September 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 $ 37,579 $ 320 $ 37,259 Obligations of Puerto Rico government and public instrumentalities 4,680 607 4,073 $ 42,259 $ 927 $ 41,332 Less than 12 months Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US Government-sponsored agencies 13,181 50 13,131 Obligations of US government and sponsored agencies 4,170 5 4,165 Securities held to maturity FNMA and FHLMC certificates 21,240 18 21,222 $ 38,591 $ 73 $ 38,518 Total Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies $ 50,760 $ 370 $ 50,390 Obligations of Puerto Rico Government and political subdivisions 4,680 607 4,073 Obligations of US government and sponsored agencies 4,170 5 4,165 Securities held to maturity FNMA and FHLMC certificates 21,240 18 21,222 $ 80,850 $ 1,000 $ 79,850 At September 30, 2016 t here 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 ($ 76.2 million, amortized cost, or 94 %) with an unrea lized loss position at September 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 ($ 4.7 million, amortized c ost, or 6 %) with an unrealiz ed loss position at September 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 in crease 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-ser vice obligations and structural budget deficits, high unemploy ment and a shrinking population . The only obligation issued or guaranteed by the government of Puerto Rico and its instrumentalities held at the end of the third quarter of 2016 by the Company was the P uerto R ico Highway s and Transportation Authority (“PRHTA”) – Teodoro Moscoso Bridge revenue bond. The pledged income of this bond comes from gross revenues from Teodoro Moscoso Bridge operations. Although PRHTA is included in the Puerto Rico Gove rnor'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 $ 4.6 million had an aggregate fair value of $ 4.1 million at September 30 , 2016 ( 87 % of the bond' s cost ) . The discounted cash flow analysis for the investments showed a cumulative default probability at maturity of 8.9 %, 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 interest and principal invested in this Puerto Rico government bond and is , therefore , not required to recognize a credit loss as of September 30 , 2016 . Also, the Company’s conclusion is based on the assessment of the specific source of repayment of the outstanding bo nd, 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 millio n. The next p ayment is due on July 1, 2017. As a result of the aforementioned analysis, no other-than-temporary losses were recorded during the quarter ended September 30 , 2016 . As of September 30 , 2016 , the Company applied a discounted cash flow analysis to the bond guaranteed by the government of Puerto Rico to calculate the cash flows expected to be collected and determine if any portion of the decline in market value of these investments was considered an other -than-temporary impairment. The analysis derives an est imate of value based on the present value of risk-adjusted future cash flows of the underlying investments, and included the following components : The contractual future cash flows of the bonds are projected based on the key terms as set forth in the offi cial statements for each investment. Such key terms include among others the interest rate, amortization schedule, if any, and maturity date. The risk-adjusted cash flows are calculated based on a monthly 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 di scounted at the original effective yield of each investment based on the purchase price and expected risk-adjusted future cash flows as of the purchase date of each investment. The following table presents a roll-forward of credit-related impairment losses recognized in earnings for the nine-month period ended September 30, 2016 and 2015 on available-for-sale securities: Nine-Month Period Ended September 30, 2016 2015 Balance at beginning of period $ 1,490 $ - Reductions for securities sold during the period (realized) (1,490) - Additions from credit losses recognized on available-for-sale securities that had no previous impairment losses - 246 Balance at end of period $ - $ 246 |
Loans Receivable
Loans Receivable | 9 Months Ended |
Sep. 30, 2016 | |
Loans Receivable [Abstract] | |
LOANS RECEIVABLE | NOTE 4 - LOANS The Company’s loan portfolio held for investment 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 . Loans held for sale are presented separately . The coverage for the single family residential loans will expire on June 30, 2020 . At September 30 , 2016 , the remaining covered loans , amounting to $ 62. 8 million, net carrying amount ($ 75.0 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 nine-month periods ended September 30 , 2016 and 2015 was $ 6 .4 million and $ 31.4 million, respectively. The decrease in interest income recognized for covered loans is mainly due to the expiration of the FDIC loss-share coverage related to commercial and other-non single family 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 Deteriora ted 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 w as implemented prospect ively due to the immaterial impact of 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 during the second quarter of 2016 resulted in the de-recognition of $ 8.9 million and $ 73.1 million in the recorded investment balance and associat ed 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 . During the third quarter of 2016, the Company entered into an agreement to sell its outstanding $ 200.0 million participation in the Puerto Rico Electric Power Authority ("PREPA") line of credit for $ 12 3.5 million, slightly lower than the adjusted book balance, net of reserves. As a result of this transaction, the Company recognized a $56.2 million charge-off and $2.9 million provision for loan and lease losses during the quarter ended September 30, 2016. A t September 30, 2016, this line of credit was reported as other loans held for sale, at fair value of $123.1 million . The sale transaction settled on October 7, 2016. The composition of the Company’s loan portfolio at September 30 , 2016 and December 31 , 2015 was as follows September 30, December 31, 2016 2015 (In thousands) Originated and other loans and leases held for investment: (c) Mortgage $ 735,367 $ 757,828 Commercial 1,267,177 1,441,649 Consumer 278,666 242,950 Auto and leasing 730,589 669,163 3,011,799 3,111,590 Allowance for loan and lease losses on originated and other loans and leases (62,168) (112,626) 2,949,631 2,998,964 Deferred loan costs, net 5,421 4,203 Total originated and other loans loans held for investment, net 2,955,052 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 5,755 7,457 Consumer 34,215 38,385 Auto 64,393 106,911 104,363 152,753 Allowance for loan and lease losses on acquired BBVAPR loans accounted for under ASC 310-20 (b) (4,213) (5,542) 100,150 147,211 Accounted for under ASC 310-30 (Loans acquired with deteriorated credit quality, including those by analogy) (a) Mortgage 579,769 608,294 Commercial 230,163 287,311 Construction 71,436 88,180 Consumer 5,768 11,843 Auto 100,475 153,592 987,611 1,149,220 Allowance for loan and lease losses on acquired BBVAPR loans accounted for under ASC 310-30 (29,819) (25,785) 957,792 1,123,435 Total acquired BBVAPR loans, net 1,057,942 1,270,646 Acquired Eurobank loans: (a) Loans secured by 1-4 family residential properties 75,043 92,273 Commercial and construction 82,753 142,377 Consumer 1,488 2,314 Total Eurobank loans 159,284 236,964 Allowance for loan and lease losses on Eurobank loans (b) (22,812) (90,178) Total Eurobank loans, net 136,472 146,786 Total acquired loans, net 1,194,414 1,417,432 Total held for investment, net 4,149,466 4,420,599 Mortgage loans held for sale 26,362 13,614 Other loans held for sale (c) 123,137 - Total loans, net $ 4,298,965 $ 4,434,213 (a) Current period amounts have been re-measured using the revised de-recognition policy for purchased credit impaired loans implemented in the second quarter of 2016. (b) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was de-recognized due to the revision in the de-recognition policy for these loans implemented during the second quarter of 2016. (c) During the third quarter of 2016, the Company entered into an agreement to sell its outstanding participation in the PREPA line of credit. At September 30, 2016 this line of credit was reported as other loans held for sale, at fair value of $123.1 million. 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 September 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 . September 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 $ 190 $ 1,607 $ 3,388 $ 5,185 $ 92 $ 47,169 $ 52,446 $ 114 Years 2003 and 2004 249 4,271 6,142 10,662 332 81,915 92,909 - Year 2005 123 1,810 3,930 5,863 202 44,617 50,682 - Year 2006 781 3,434 7,045 11,260 321 60,358 71,939 - Years 2007, 2008 and 2009 929 2,182 11,283 14,394 46 66,407 80,847 569 Years 2010, 2011, 2012, 2013 452 2,777 10,497 13,726 - 129,710 143,436 571 Years 2014, 2015 and 2016 - 430 1,150 1,580 47 102,789 104,416 - 2,724 16,511 43,435 62,670 1,040 532,965 596,675 1,254 Non-traditional - 301 5,002 5,303 - 19,036 24,339 - Loss mitigation program 10,908 6,571 18,315 35,794 2,704 65,918 104,416 2,120 13,632 23,383 66,752 103,767 3,744 617,919 725,430 3,374 Home equity secured personal loans - - - - - 339 339 - GNMA's buy-back option program - - 9,598 9,598 - - 9,598 - Total mortgage 13,632 23,383 76,350 113,365 3,744 618,258 735,367 3,374 Commercial Commercial secured by real estate: Corporate - - - - - 240,458 240,458 - Institutional - - - - 1,495 27,265 28,760 - Middle market - 205 3,114 3,319 1,406 232,088 236,813 - Retail 672 707 6,477 7,856 3,710 236,983 248,549 - Floor plan - - - - - 2,793 2,793 - Real estate - - - - - 15,783 15,783 - 672 912 9,591 11,175 6,611 755,370 773,156 - Other commercial and industrial: Corporate - - - - - 126,325 126,325 - Institutional 500 - - 500 1,345 172,988 174,833 - Middle market - - - - 1,350 85,349 86,699 - Retail 1,112 311 1,060 2,483 210 71,252 73,945 - Floor plan 670 - 119 789 - 31,430 32,219 - 2,282 311 1,179 3,772 2,905 487,344 494,021 - Total commercial 2,954 1,223 10,770 14,947 9,516 1,242,714 1,267,177 - September 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 486 264 510 1,260 - 24,204 25,464 - Overdrafts 12 3 3 18 - 178 196 - Personal lines of credit 38 18 37 93 - 2,199 2,292 - Personal loans 2,154 1,657 926 4,737 778 229,480 234,995 - Cash collateral personal loans 162 2 30 194 - 15,525 15,719 - Total consumer 2,852 1,944 1,506 6,302 778 271,586 278,666 - Auto and leasing 46,564 18,738 8,407 73,709 115 656,765 730,589 - Total $ 66,002 $ 45,288 $ 97,033 $ 208,323 $ 14,153 $ 2,789,323 $ 3,011,799 $ 3,374 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 reta il portfolio. The change resulted in a $ 19 thousand and $ 5.9 million reduction in early and total delinquency for consumer and auto loans, respectively. At September 30 , 2016 and December 31 , 2015 , the Company had carrying balances of $ 13 6.8 million and $ 334.6 million, respectively, in originated and other loans held for investment granted to the Puerto Rico government, including its instrumentalities, public corporations and municipalities as part of the institutional commercial loan segment. All loans granted to the Puerto R ico government were current at September 30 , 2016 and December 31 , 2015 . Acquired 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 receivabl e in excess of the Company’s initial investment in the loans be accreted into interest income on a level-yield basis over the life of the loan. Loans accounted for under ASC 310-20 are placed on non-accrual status when past due in accordance with the Compa ny’s non-accrual policy, and any accretion of discount or amortization of premium 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 peri od upon refinancing, renewal or normal re-underwriting. The following table s present the aging of the recorded investment in gross acquired BBVAPR loans accounted for under ASC 310-20 as of September 30 , 2016 and December 31 , 2015 , by class of loans : September 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 $ - $ - $ 150 $ 150 $ - $ - $ 150 $ - Floor plan 969 - 227 1,196 - 1,286 2,482 - 969 - 377 1,346 - 1,286 2,632 - Other commercial and industrial Retail 67 56 78 201 - 2,919 3,120 - Floor plan - - 3 3 - - 3 - 67 56 81 204 - 2,919 3,123 - 1,036 56 458 1,550 - 4,205 5,755 - Consumer Credit cards 827 443 641 1,911 - 29,452 31,363 - Personal loans 95 15 62 172 - 2,680 2,852 - 922 458 703 2,083 - 32,132 34,215 - Auto 4,321 1,608 739 6,668 4 57,721 64,393 - Total $ 6,279 $ 2,122 $ 1,900 $ 10,301 $ 4 $ 94,058 $ 104,363 $ - 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 September 30 , 2016 and December 31 , 2015 is as follows: September 30, December 31, 2016 2015 (In thousands) Contractual required payments receivable (a) $ 1,716,721 $ 1,945,098 Less: Non-accretable discount 367,754 434,190 Cash expected to be collected 1,348,967 1,510,908 Less: Accretable yield 361,356 361,688 Carrying amount, gross 987,611 1,149,220 Less: allowance for loan and lease losses (b) 29,819 25,785 Carrying amount, net $ 957,792 $ 1,123,435 (a) Current period amounts have been re-measured using the revised de-recognition policy for purchased credit impaired loans implemented in the second quarter of 2016. (b) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was de-recognized due to the revision in the de-recognition policy for these loans implemented during the second quarter of 2016. At September 30 , 2016 and December 31 , 2015 , the Company had $ 65.6 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. The following tables describe the accretable yield and non- accretable discount activity of acquired BBVAPR loans accounted f or under ASC 310-30 for the Quarter Ended September 30, 2016 Mortgage Commercial Construction Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 283,823 $ 37,059 $ 15,248 $ 14,103 $ 4,885 $ 355,118 Accretion (8,197) (5,201) (1,485) (3,107) (662) (18,652) Change in expected cash flows (1) 1,764 (1) 618 (241) 2,139 Transfer from (to) non-accretable discount 24,056 (1,296) 283 (525) 233 22,751 Balance at end of period $ 299,681 $ 32,326 $ 14,045 $ 11,089 $ 4,215 $ 361,356 Non-Accretable Discount Activity: Balance at beginning of period $ 336,153 $ 10,582 $ 7,419 $ 22,121 $ 18,225 $ 394,500 Change in actual and expected losses (2,591) (1,215) (1) (309) 121 (3,995) Transfer (to) from accretable yield (24,056) 1,296 (283) 525 (233) (22,751) Balance at end of period $ 309,506 $ 10,663 $ 7,135 $ 22,337 $ 18,113 $ 367,754 Nine-Month Period Ended September 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 (24,798) (16,312) (4,661) (10,934) (2,470) (59,175) Change in expected cash flows (1) 4,954 (209) 1,249 (242) 5,751 Transfer from (to) non-accretable discount 55,686 (1,727) (700) (804) 637 53,092 Balance at end of period $ 299,681 $ 32,326 $ 14,045 $ 11,089 $ 4,215 $ 361,356 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 (9,580) (2,845) (329) (506) (84) (13,344) Transfer (to) from accretable yield (55,686) 1,727 700 804 (637) (53,092) Balance at end of period $ 309,506 $ 10,663 $ 7,135 $ 22,337 $ 18,113 $ 367,754 Quarter Ended September 30, 2015 Mortgage Commercial Construction Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 275,880 $ 71,563 $ 24,613 $ 31,531 $ 8,461 $ 412,048 Accretion (8,614) (12,693) (2,719) (5,463) (1,207) (30,696) Change in actual and expected losses - 6,134 1,396 (1) (1) 7,528 Transfer from (to) non-accretable discount 75 (6,450) (4,075) 148 35 (10,267) Balance at end of period $ 267,341 $ 58,554 $ 19,215 $ 26,215 $ 7,288 $ 378,613 Non-Accretable Discount Activity: Balance at beginning of period $ 389,107 $ 10,770 $ 6,994 $ 23,690 $ 19,356 $ 449,917 Change in actual and expected losses (2,184) (12,090) (2,937) (555) (315) (18,081) Transfer (to) from accretable yield (75) 6,450 4,075 (148) (35) 10,267 Balance at end of period $ 386,848 $ 5,130 $ 8,132 $ 22,987 $ 19,006 $ 442,103 Nine-Month Period Ended September 30, 2015 Mortgage Commercial Construction Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 298,364 $ 61,196 $ 25,829 $ 53,998 $ 6,559 $ 445,946 Accretion (26,414) (33,049) (8,672) (18,614) (3,420) (90,169) Change in actual and expected losses - 6,134 1,396 (1) (1) 7,528 Transfer (to) from non-accretable discount (4,609) 24,273 662 (9,168) 4,150 15,308 Balance at end of period $ 267,341 58,554 19,215 26,215 7,288 378,613 Non-Accretable Discount Activity: Balance at beginning of period $ 389,839 $ 23,069 $ 3,486 $ 16,215 $ 24,018 $ 456,627 Change in actual and expected losses (7,600) 6,334 5,308 (2,396) (862) 784 Transfer from (to) accretable yield 4,609 (24,273) (662) 9,168 (4,150) (15,308) Balance at end of period $ 386,848 $ 5,130 $ 8,132 $ 22,987 $ 19,006 $ 442,103 Acquired Eurobank Loans The carrying amount of acquired Eurobank loans at September 30 , 2016 and December 31 , 2015 is as follows: September 30 December 31 2016 2015 (In thousands) Contractual required payments receivable (a) $ 243,873 $ 342,511 Less: Non-accretable discount 7,934 21,156 Cash expected to be collected 235,939 321,355 Less: Accretable yield 76,655 84,391 Carrying amount, gross 159,284 236,964 Less: Allowance for loan and lease losses (b) 22,812 90,178 Carrying amount, net $ 136,472 $ 146,786 (a) Current period amounts have been re-measured using the revised de-recognition policy for purchased credit impaired loans implemented in the second quarter of 2016. (b) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was de-recognized due to the revision in the de-recognition policy for these loans implemented during the second quarter of 2016. The following tables describe the accretable yield and non- a ccretable discount activity of acquired Eurobank loans for the quarters and nine-month periods ended September 30 , 2016 and 2015 : Quarter Ended September 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 $ 48,336 $ 29,142 $ 2,204 $ - $ - $ 79,682 Accretion (2,217) (6,570) - (62) (490) (9,339) Change in expected cash flows 646 1,719 (8) 62 490 2,909 Transfer from (to) non-accretable discount 3,737 (188) (146) - - 3,403 Balance at end of year $ 50,502 $ 24,103 $ 2,050 $ - $ - $ 76,655 Non-Accretable Discount Activity: Balance at beginning of period $ 11,555 $ - $ - $ - $ - $ 11,555 Change in actual and expected losses (845) 617 10 - - (218) Transfer from (to) accretable yield (3,737) 188 146 - - (3,403) Balance at end of period $ 6,973 $ 805 $ 156 $ - $ - $ 7,934 Nine-Month Period Ended September 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 $ - $ 3,212 $ 84,391 Accretion (6,746) (15,193) (47) (60) (1,751) (23,797) Change in expected cash flows 1,432 14,431 (31) (15) (1,456) 14,361 Transfer from (to) non-accretable discount 3,862 (2,105) (127) 75 (5) 1,700 Balance at end of period $ 50,502 $ 24,103 $ 2,050 $ - $ - $ 76,655 Non-Accretable Discount Activity: Balance at beginning of period $ 12,869 $ - $ - $ - $ 8,287 $ 21,156 Change in actual and expected losses (2,034) (1,300) 29 75 (8,292) (11,522) Transfer (to) from accretable yield (3,862) 2,105 127 (75) 5 (1,700) Balance at end of period $ 6,973 $ 805 $ 156 $ - $ - $ 7,934 Quarter Ended September 30, 2015 Loans Secured by 1-4 Family Residential Properties Commercial and Other Construction Construction & Development Secured by 1-4 Family Residential Properties Leasing Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 55,806 $ 27,473 $ 18,349 $ 1,103 $ 1,910 $ 104,641 Accretion (3,543) (10,100) (1,446) (711) (214) (16,014) Change in expected cash flows 4,320 43,775 (10,749) 270 118 37,734 Transfer from non-accretable discount (2,188) (30,400) 175 307 1,603 (30,503) Balance at end of period $ 54,395 $ 30,748 $ 6,329 $ 969 $ 3,417 $ 95,858 Non-Accretable Discount Activity: Balance at beginning of period $ 11,402 $ - $ - $ - $ 9,730 $ 21,132 Change in actual and expected losses (8) (30,400) 175 307 (34) (29,960) Transfer to accretable yield 2,188 30,400 (175) (307) (1,603) 30,503 Balance at end of period $ 13,582 $ - $ - $ - $ 8,093 $ 21,675 Nine-Month Period Ended September 30, 2015 Loans Secured by 1-4 Family Residential Properties Commercial and Other Construction Construction & Development Secured by 1-4 Family Residential Properties Leasing Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 47,636 $ 37,919 $ 20,753 $ 2,479 $ 1,072 $ 109,859 Accretion (10,337) (28,002) (2,470) (3,040) (427) (44,276) Change in Expected Cash Flows 4,320 43,775 (10,749) 270 118 37,734 Transfer from (to) non-accretable discount 12,776 (22,944) (1,205) 1,260 2,654 (7,459) Balance at end of period $ 54,395 $ 30,748 $ 6,329 $ 969 $ 3,417 $ 95,858 Non-Accretable Discount Activity: Balance at beginning of period $ 27,348 $ 24,464 $ - $ - $ 10,598 $ 62,410 Change in actual and expected cash flows (990) (47,408) (1,205) 1,260 149 (48,194) Transfer (to) from accretable yield (12,776) 22,944 1,205 (1,260) (2,654) 7,459 Balance at end of period $ 13,582 $ - $ - $ - $ 8,093 $ 21,675 Non-accrual Loans The following table presents the recorded investment in loans in non-accrual status by class of loans as of September 30 , 2016 and December 31 , 2015 : September 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 $ 3,436 $ 3,786 Years 2003 and 2004 6,474 5,737 Year 2005 4,367 3,627 Year 2006 7,412 8,189 Years 2007, 2008 and 2009 10,931 14,625 Years 2010, 2011, 2012, 2013 10,059 10,588 Years 2014, 2015 and 2016 1,197 663 43,876 47,215 Non-traditional 5,002 5,092 Loss mitigation program 21,485 20,172 70,363 72,479 Home equity loans, secured personal loans - 64 70,363 72,543 Commercial Commercial secured by real estate Middle market 4,726 12,729 Retail 11,040 8,726 15,766 21,455 Other commercial and industrial Institutional 1,845 190,290 Middle market 1,350 1,565 Retail 2,101 1,932 Floor plan 790 39 6,086 193,826 21,852 215,281 Consumer Credit cards 510 369 Personal lines of credit 37 100 Personal loans 1,890 1,146 Cash collateral personal loans 30 16 2,467 1,631 Auto and leasing 9,477 8,418 Total non-accrual originated loans $ 104,159 $ 297,873 September 30, December 31, 2016 2015 (In thousands) Acquired BBVAPR loans accounted for under ASC 310-20 Commercial Commercial secured by real estate Retail $ 150 $ 228 Floor plan 227 467 377 695 Other commercial and industrial Retail 78 178 Floor plan 3 7 81 185 458 880 Consumer Credit cards 641 489 Personal loans 62 46 703 535 Auto 777 831 Total non-accrual acquired BBVAPR loans accounted for under ASC 310-20 1,938 2,246 Total non-accrual loans $ 106,097 $ 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 a re classified as non-performing loans when they become 90 days or more past due, but are not placed in non-accrual status until they become 18 months or more past due, since they are insured loans. Therefore, these loans are included as non-performing loan s but excluded from non-accrual loans. In addition, these loans are excluded from the impairment analysis. During the first quarter of 2015, the participation in the PREPA line of credit was classified as non-accrual. At December 31, 2015, this participat ion had an unpaid principal balance of $ 190.3 million. During the third quarter of 2016, the Company agreed to sell its participation with a settlement on October 7, 2016. Therefore, a t September 30, 2016 this line of credit was reported as other loans held for sale, at fair value of $123.1 million . At September 30 , 2016 and December 31 , 2015 , loans whose terms have been extended and w hich are classified as troubled-debt restructurings that are not included in non-accrual loans amounte d to $ 100.3 million a nd $ 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 $ 3 6.6 million and $ 2 35.8 million at September 30 , 2016 and December 31 , 2015 , respectively. Impaired commercial loans at December 31, 2015 included the PREPA line of credit with an unpaid principal balance of $ 190.3 million. The impaired commercial loans were measured based on the fair value of collateral or the p resent value of cash flows, including those identified as troubled-debt restructurings. The valuation allowance for impaired commercial loans amounted to $ 5. 6 million at September 30 , 2016 and $ 55.9 million at December 31 , 2015 . The valuation allowance fo r impaired commercial loans at December 31, 2015 inclu ded $ 53.3 million of specific allowance for PREPA. The total investment in impaired mortgage loans was $ 92.3 million and $ 90.0 million at September 30 , 2016 and December 31 , 2015 , respectively. Impairme nt 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 $ 8.7 million at September 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 September 30 , 2016 and December 31 , 2015 are as follows : September 30, 2016 Unpaid Recorded Related Principal Investment Allowance Coverage (In thousands) Impaired loans with specific allowance: Commercial $ 16,915 $ 14,949 $ 5,572 38% Residential impaired and troubled-debt restructuring 100,390 92,343 8,725 9% Impaired loans with no specific allowance: Commercial 27,908 21,420 - 0% Total investment in impaired loans $ 145,213 $ 128,712 $ 14,297 11% 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 September 30 , 2016 and December 31 , 2015 are as follows: September 30, 2016 Unpaid Recorded Related Principal Investment Allowance Coverage (In thousands) Impaired loans w |
Allowance for Loan and Lease Lo
Allowance for Loan and Lease Losses | 9 Months Ended |
Sep. 30, 2016 | |
Loans Receivable [Abstract] | |
Allowance For Credit Losses Text Block | NOTE 5 – ALLOWANCE FOR LOAN AND LEASE LOSSES The composition of the Company’s allowance for loan and lease losses at September 30 , 2016 and December 31 , 2015 was as follows : September 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 $ 18,527 $ 18,352 Commercial 12,307 64,791 Consumer 12,289 11,197 Auto and leasing 19,002 18,261 Unallocated 43 25 Total allowance for originated and other loans and lease losses 62,168 112,626 Acquired loans: Acquired BBVAPR loans: Accounted for under ASC 310-20 (Loans with revolving feature and/or acquired at a premium) Commercial 18 26 Consumer 2,946 3,429 Auto 1,249 2,087 4,213 5,542 Accounted for under ASC 310-30 (Loans acquired with deteriorated credit quality, including those by analogy) (a) Mortgage 2,664 1,762 Commercial 21,998 21,161 Auto 5,157 2,862 29,819 25,785 Total allowance for acquired BBVAPR loans and lease losses 34,032 31,327 Acquired Eurobank loans: (a) Loans secured by 1-4 family residential properties 12,268 22,570 Commercial and other construction 10,544 67,365 Consumer - 243 Total allowance for acquired Eurobank loan and lease losses (a) 22,812 90,178 Total allowance for loan and lease losses (a) $ 119,012 $ 234,131 (a) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was de-recognized due to the revision in the de-recognition policy for these loans during the second quarter of 2016 . 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 was implemented prospectively due to the immaterial impact of retrospective adoption. Prior to June 30, 2016, the pool’s carrying value and allowan ce was determined by discounting expected cash flows at the pool’s effective yield. The allowance for loa n and lease losses was maintained until all of the loans in the po ol were paid off or charged-off . During the nine-month period ended September 30, 20 16, the Company de-recognized $8.9 million and $73.1 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 provisio n 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 originated and other loans held for investment by segment for the periods indicated: Quarter Ended September 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 $ 18,537 $ 63,144 $ 11,771 $ 19,259 $ 101 $ 112,812 Charge-offs (1,656) (56,700) (3,173) (7,804) - (69,333) Recoveries 21 93 120 3,747 - 3,981 Provision (recapture) for originated and other loans and lease losses 1,625 5,770 3,571 3,800 (58) 14,708 Balance at end of period $ 18,527 $ 12,307 $ 12,289 $ 19,002 $ 43 $ 62,168 Nine-Month Period Ended September 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 (4,692) (58,544) (8,310) (24,267) - (95,813) Recoveries 204 407 355 9,969 - 10,935 Provision for originated and other loans and lease losses 4,663 5,653 9,047 15,039 18 34,420 Balance at end of period $ 18,527 $ 12,307 $ 12,289 $ 19,002 $ 43 $ 62,168 September 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 $ 8,725 $ 5,572 $ - $ - $ - $ 14,297 Collectively evaluated for impairment 9,802 6,735 12,289 19,002 43 47,871 Total ending allowance balance $ 18,527 $ 12,307 $ 12,289 $ 19,002 $ 43 $ 62,168 Loans: Individually evaluated for impairment $ 92,343 $ 36,369 $ - $ - $ - $ 128,712 Collectively evaluated for impairment 643,024 1,230,808 278,666 730,589 - 2,883,087 Total ending loan balance $ 735,367 $ 1,267,177 $ 278,666 $ 730,589 $ - $ 3,011,799 Quarter Ended September 30, 2015 Mortgage Commercial Consumer Auto and Leasing Unallocated Total (In thousands) Allowance for loan and lease losses for originated and other loans: Balance at beginning of period $ 18,076 $ 34,779 $ 10,464 $ 15,064 $ 606 $ 78,989 Charge-offs (1,058) (828) (2,471) (8,510) - (12,867) Recoveries 270 63 186 3,251 - 3,770 Provision (recapture) for originated and other loans and lease losses 4 1,510 2,637 6,869 (561) 10,459 Balance at end of period $ 17,292 $ 35,524 $ 10,816 $ 16,674 $ 45 $ 80,351 Nine-Month Period Ended September 30, 2015 Mortgage Commercial Consumer Auto and Leasing Unallocated Total (In thousands) Allowance for loan and lease losses for originated and other loans: Balance at beginning of year $ 19,679 $ 8,432 $ 9,072 $ 14,255 $ 1 $ 51,439 Charge-offs (3,829) (2,317) (6,456) (24,307) - (36,909) Recoveries 338 372 729 10,060 - 11,499 Provision for originated and other loans and lease losses 1,104 29,037 7,471 16,666 44 54,322 Balance at end of year $ 17,292 $ 35,524 $ 10,816 $ 16,674 $ 45 $ 80,351 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 During the third quarter of 2016, the Company entered into an agreement to sell its outstanding participation in the PREPA line of credit. As a result of this transaction, the Company recognized a $ 56.2 million charge-off and a $ 2.9 million provision for loan and lease losses during the quarter ended September 30, 2016 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 September 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 $ 21 $ 3,002 $ 1,464 $ - $ 4,487 Charge-offs (2) (889) (475) - (1,366) Recoveries 16 67 461 - 544 Provision (recapture) for acquired BBVAPR loan and lease losses accounted for under ASC 310-20 (17) 766 (201) - 548 Balance at end of period $ 18 $ 2,946 $ 1,249 $ - $ 4,213 Nine-Month Period Ended September 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 (21) (2,714) (1,783) - (4,518) Recoveries 56 236 1,505 - 1,797 Provision (recapture) for acquired BBVAPR loan and lease losses accounted for under ASC 310-20 (43) 1,995 (560) - 1,392 Balance at end of year $ 18 $ 2,946 $ 1,249 $ - $ 4,213 September 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 $ 18 $ 2,946 $ 1,249 $ - $ 4,213 Total ending allowance balance $ 18 $ 2,946 $ 1,249 $ - $ 4,213 Loans: Collectively evaluated for impairment 5,755 34,215 64,393 - 104,363 Total ending loan balance $ 5,755 $ 34,215 $ 64,393 $ - $ 104,363 Quarter Ended September 30, 2015 Commercial Consumer Auto Unallocated Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Balance at beginning of period $ 54 $ 2,616 $ 2,859 $ - $ 5,529 Charge-offs (22) (1,103) (1,150) - (2,275) Recoveries 7 59 502 - 568 Provision (recapture) for acquired loan and lease losses accounted for under ASC 310-20 (17) 1,485 183 - 1,651 Balance at end of period $ 22 $ 3,057 $ 2,394 $ - $ 5,473 Nine-Month Period Ended September 30, 2015 Commercial Consumer Auto Unallocated Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Balance at beginning of year $ 65 $ 1,211 $ 3,321 $ - $ 4,597 Charge-offs (38) (3,789) (3,454) - (7,281) Recoveries 24 622 1,574 - 2,220 Provision (recapture) for acquired loan and lease losses accounted for under ASC 310-20 (29) 5,013 953 - 5,937 Balance at end of period $ 22 $ 3,057 $ 2,394 $ - $ 5,473 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 September 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 $ 1,585 $ 15,863 $ - $ 5,353 $ 22,801 Provision for BBVAPR loans and lease losses accounted for under ASC 310-30 1,079 6,324 - - 7,403 Allowance de-recognition (a) - (189) - (196) (385) Balance at end of period $ 2,664 $ 21,998 $ - $ 5,157 $ 29,819 (a) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was de-recognized due to the revision in the de-recognition policy for these loans during the second quarter of 2016. Nine-Month Period Ended September 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 Provision for BBVAPR loans and lease losses accounted for under ASC 310-30 1,000 9,552 - 2,693 13,245 Loan pools fully charged-off (14) (66) - (202) (282) Allowance de-recognition (a) - (8,733) - (196) (8,929) Balance at end of period $ 2,664 $ 21,998 $ - $ 5,157 $ 29,819 (a) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was de-recognized due to the revision in the de-recognition policy for these loans during the second quarter of 2016. Quarter Ended September 30, 2015 Mortgage Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-30: Balance at beginning of period $ 473 $ 14,940 $ 84 $ 2,862 $ 18,359 Provision for acquired BBVAPR loans and lease losses accounted for under ASC 310-30 - 5,979 - - 5,979 Loan pools fully charged-off - (4,352) - - (4,352) Balance at end of period $ 473 $ 16,567 $ 84 $ 2,862 $ 19,986 Nine-Month Period Ended September 30, 2015 Mortgage Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-30: Balance at beginning of period $ - $ 13,476 $ 5 $ - $ 13,481 Provision for acquired BBVAPR loans and lease losses accounted for under ASC 310-30 473 7,443 79 2,862 10,857 Loan pools fully charged-off - (4,352) - - (4,352) Balance at end of period $ 473 $ 16,567 $ 84 $ 2,862 $ 19,986 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 nine -month periods ended September 30 , 2016 and 2015 were as follows: Quarter Ended September 30, 2016 Loans Secured by 1-4 Family Residential Properties Commercial and Construction Consumer Total (In thousands) Allowance for loan and lease losses for acquired Eurobank loans: Balance at beginning of period $ 11,016 $ 11,096 $ 4 $ 22,116 Provision (recapture) for acquired Eurobank loans and lease losses, net 893 (74) - 819 FDIC shared-loss portion of provision for covered loan and lease losses, net 818 - - 818 Allowance de-recognition (a) (459) (478) (4) (941) Balance at end of period $ 12,268 $ 10,544 $ - $ 22,812 (a) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was de-recognized due to the revision in the de-recognition policy for these loans during the second quarter of 2016. Nine-Month Period Ended September 30, 2016 Loans Secured by 1-4 Family Residential Properties Commercial and Construction Consumer 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 1,077 1,585 (7) 2,655 FDIC shared-loss portion of provision for covered loan and lease losses, net 3,213 - - 3,213 Loan pools fully charged-off - (134) - (134) Allowance de-recognition (a) (14,592) (58,272) (236) (73,100) Balance at end of year $ 12,268 $ 10,544 $ - $ 22,812 (a) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was de-recognized due to the revision in the de-recognition policy for these loans during the second quarter of 2016. Quarter Ended September 30, 2015 Mortgage Commercial and Construction Consumer Total (In thousands) Allowance for loan and lease losses for acquired Eurobank loans: Balance at beginning of period $ 17,593 $ 53,470 $ 389 $ 71,452 Provision for Eurobank loans and lease losses, net 15,813 17,398 279 33,490 Loans pools fully charged-off (721) (13,588) (301) (14,610) Balance at end of period $ 32,685 $ 57,280 $ 367 $ 90,332 Nine-Month Period Ended September 30, 2015 Mortgage Commercial and Construction Consumer 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 17,779 20,136 279 38,194 FDIC shared-loss portion of provision for covered loan and lease losses, net 105 2,398 - 2,503 Loans pools fully charged-off (721) (13,588) (301) (14,610) Balance at end of year $ 32,685 $ 57,280 $ 367 $ 90,332 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. The 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 September 30 , 2016 and December 31 , 2015 , allowance for loan losses on loans covered by the FDIC shared-loss agreement amounted to $ 1 2.3 million and $ 2 2.6 million, respectively. The provision for covered loan and lease losses for the quarters ended September 30 , 2016 and 2015 was $ 89 3 thousand and $ 1 5.8 million , respectively. |
FDIC Indemnification Asset and
FDIC Indemnification Asset and True-up Payment Obligation | 9 Months Ended |
Sep. 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 reim bursed at an 80% level. The FDIC indemnification asset represents the portion of estimated losses covered by the shared-loss agreements between the Bank and the FDIC. The following table presents the activity in the FDIC indemnification asset and true-up payment obligation for the quarters and nine -month periods ended September 30 , 2016 and 2015 : Quarter Ended September 30, Nine-Month Period Ended September 30, 2016 2015 2016 2015 (In thousands) FDIC indemnification asset: Balance at beginning of period $ 18,426 $ 22,704 $ 22,599 $ 97,378 Shared-loss agreements reimbursements from the FDIC (87) - (824) (17,171) Shared-loss agreements reimbursements expected from the FDIC - - - (20,917) Increase in expected credit losses to be covered under shared-loss agreements, net 818 - 3,213 2,503 FDIC indemnification asset expense (1,910) (1,215) (6,179) (35,948) Net expenses (reimbursed) incurred under shared-loss agreement (577) 1,406 (2,139) (2,950) Balance at end of period $ 16,670 $ 22,895 $ 16,670 $ 22,895 True-up payment obligation: Balance at beginning of period $ 25,771 $ 23,577 $ 24,658 $ 21,981 Change in true-up payment obligation 508 864 1,621 2,460 Balance at end of period $ 26,279 $ 24,441 $ 26,279 $ 24,441 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 indemnification asset shared-loss expense for the quarter s ended September 30 , 2016 and 2015 amounted to $1.9 million and $1.2 million , respectively . The expense for the nine-month period s ended September 30 , 2016 and 2015 amounted to of $6.2 million and $35.9 million , respectively. 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 indemnification asset attributable to non-single family loans at the close of the second quarter of 2015. At September 30 , 2016 and December 31 , 2015 , the FDIC indemnification asset reflects only the balance for single family residential mortgage loan s. The Company has owed payments to the FDIC for the recovery of prior claims for non-single family loans . At September 30 , 2016 , the liability for these payments amounted to $ 278 thousand and is recorded in other liabilities in the consolidated statements of financial condition until cash is paid to the FDIC. There was no liability at September 30 , 2015 . 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 “Tr ue-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 cumul ative 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-m onth 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 t he 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 condi tion. 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 s hared-loss expense, net, in the unaudited consolidated statements of operations. The following table provides the fair value and the undiscounted amount of the true-up payment obligation at September 30 , 2016 and December 31 , 2015 : September 30, December 31, 2016 2015 (In thousands) Carrying amount (fair value) $ 26,279 $ 24,658 Undiscounted amount $ 33,661 $ 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 nine -month periods ended September 30 , 2016 and 2015 : Quarter Ended September 30, Nine-Month Period Ended September 30, 2016 2015 2016 2015 (In thousands) (In thousands) FDIC indemnification asset expense $ 1,910 $ 1,215 $ 6,179 $ 35,948 Change in true-up payment obligation 508 864 1,621 2,460 Reimbursement to FDIC for recoveries 878 - 2,945 - Total FDIC shared-loss expense, net $ 3,296 $ 2,079 $ 10,745 $ 38,408 |
Derivative Activities
Derivative Activities | 9 Months Ended |
Sep. 30, 2016 | |
Derivative Activities [Abstract] | |
Derivative Acitivities | NOTE 7 — DERIVATIVE S The following table presents the Company’s derivative assets and liabilities at September 30 , 2016 and December 31 , 2015 : September 30, December 31, 2016 2015 (In thousands) Derivative assets: Interest rate swaps not designated as hedges $ 1,481 $ 1,819 Interest rate caps 22 32 Options tied to S&P 500 Index - 1,170 Other - 4 $ 1,503 $ 3,025 Derivative liabilities: Interest rate swaps designated as cash flow hedges $ 2,803 $ 4,307 Interest rate swaps not designated as hedges 1,481 1,819 Interest rate caps 22 32 Other - 4 $ 4,306 $ 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 September 30 , 2016 : Notional Fixed Variable Trade Settlement Maturity Type Amount Rate Rate Index Date Date Date (In thousands) Interest Rate Swaps $ 36,938 2.4210% 1-Month LIBOR 07/03/13 07/03/13 08/01/23 An accumulated unrealized loss of $ 2 .8 million and $ 4.3 million was recognized in accumulated other comprehensive income related to the valuation of these swaps at September 30 , 2016 and December 31 , 2015 , respectively, and the related liability is being reflected in the accompanying unaudited consolidated statements of financial condition. At September 30 , 2016 and December 31 , 2015 , interest rate swaps not designated as hedging instruments that were offered to clients represented an asset of $1.5 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 September 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 $1.5 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 September 30 , 2016 : Notional Fixed Variable Settlement Maturity Type Amount Rate Rate Index Date Date (In thousands) Interest Rate Swaps - Derivatives Offered to Clients $ 12,500 5.5050% 1-Month LIBOR 04/11/09 04/11/19 Interest Rate Swaps - Mirror Image Derivatives $ 12,500 5.5050% 1-Month LIBOR 04/11/09 04/11/19 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 September 30 , 2016 and December 31 , 2015 , t he out standing total notional amount of interest rate caps was $ 124. 4 million and $ 1 09.8 million, respectively. At September 30 , 2016 and December 31 , 2015 , the interest rate caps sold to clients represented a liability of $22 thousand and $3 2 thousand , respecti vely, and were included as part of derivative liabilities in the unaudited consolidated statements of financial condition. At September 30 , 2016 and December 31 , 2015 , the interest rate caps purchased as mirror-images represented an asset of $ 22 thousand a nd $3 2 thousand , respectively, and were included as part of derivative assets in the unaudited c onsolidated statements of financial condition. Options T ied to Standard & Poor’s 500 Stock Market Index In the past, the Company offered its customers certificates of deposit with an option tied to the performance of the S&P 500 Index. The Company use d option agreements with major broker-dealers to manage its exposure to changes in this index. Under the terms of the option agreements, the Company received the average increase in the month-end value of the index in exchange for a fixed premium. The chang es in fair value of the option agreements used to manage the exposure in the stock market in the certificates of deposit we re recorded in earnings. At September 30 , 2016 there w ere no transactions outstanding. At December 31 , 2015 , the purchased options u sed to manage exposure to the S&P 500 Index on stock indexed deposits represented an asset of $ 1.2 million (notional amount of $ 3.4 million), and the options sold to customers embedded in the certificates of deposit and recorded as deposits in the unaudite d consolidated statements of financial condition, represented a liability of $ 1.1 million (notional amount of $ 3.2 million). |
Accrued Interest Receivable and
Accrued Interest Receivable and Other Assets | 9 Months Ended |
Sep. 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 September 30 , 2016 and December 31 , 2015 consists of the following: September 30, December 31, 2016 2015 (In thousands) Loans, excluding acquired loans $ 14,644 $ 16,020 Investments 3,322 4,617 $ 17,966 $ 20,637 Other assets at September 30 , 2016 and December 31 , 2015 consist of the following : September 30, December 31, 2016 2015 (In thousands) Prepaid expenses 19,514 11,762 Other repossessed assets 3,449 6,226 Core deposit and customer relationship intangibles 6,579 7,838 Mortgage tax credits 6,277 6,277 Investment in Statutory Trust 1,083 1,083 Accounts receivable and other assets 49,733 42,786 $ 86,635 $ 75,972 P repaid expenses amounting to $19 .5 million and $11.8 million at September 30 , 2016 and December 31 , 2015 , respectively, include prepaid municipal, property and income taxes aggregating to $ 14. 1 million and $ 7.0 million, respectively. In connection with the FDIC-assisted acquisition and the BBVAPR Acquisition, the Company recorded a core deposit intangible representing the value of checking and savings deposits acquired. At September 30 , 2016 and December 31 , 2015 this core deposit intangible amounted to $ 4.5 million and $ 5.3 million, respectively. In addition, 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 BBV APR Acquisition. At September 30 , 2016 and December 31 , 2015 this customer relationship intangible amounted to $ 2.1 million and $ 2.5 million, respectively. Other repossessed assets totaled $3.4 million at September 30 , 2016 and $6.2 million at December 31 , 2015 , include repossessed automobiles amounting to $ 3. 1 million and $ 5.5 million, respectively, which are recorded at their net realizable value. At September 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 | 9 Months Ended |
Sep. 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 September 30 , 2016 and December 31 , 2015 consists of the following: September 30, December 31, 2016 2015 (In thousands) Non-interest bearing demand deposits $ 818,153 $ 762,009 Interest-bearing savings and demand deposits 2,312,885 2,208,180 Individual retirement accounts 267,955 268,799 Retail certificates of deposit 549,945 441,998 Institutional certificates of deposit 224,672 253,791 Total core deposits 4,173,610 3,934,777 Brokered deposits 581,161 782,974 Total deposits $ 4,754,771 $ 4,717,751 Brokered deposits include $ 515.9 million in certificates of deposits and $ 65.3 million in money market accounts at September 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 0.62 % and 0.57 % at September 30 , 2016 and December 31 , 2015 , respectively. Interest expense for the quarters and nine-month periods ended September 30 , 2016 and 2015 was as follows: Quarter Ended September 30, Nine-Month Period Ended September 30, 2016 2015 2016 2015 (In thousands) (In thousands) Demand and savings deposits $ 3,035 $ 2,987 $ 9,061 $ 9,469 Certificates of deposit 4,296 3,664 12,761 10,890 $ 7,331 $ 6,651 $ 21,822 $ 20,359 At September 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 $ 114. 8 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 $ 87.4 million and $ 81.6 million, respectively. At September 30 , 2016 and December 31 , 2015 , time deposits in denominations of $ 25 0 thousand or higher, excluding accrued interest and unamortized discounts , amounted to $ 371.3 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 0.4 5 % and 0.49 % at September 30 , 2016 and December 31 , 2015 , respectively. At September 30 , 2016 a nd December 31 , 2015 , total public fund deposits from various Puerto Rico government municipalities, agencies, and corporations amounted to $ 165.0 million and $ 99.0 million, respectively. These public funds were collateralized with commercial loans amounting to $ 209.3 million and $ 410.9 million at September 30 , 2016 and December 31 , 2015 , respectively . E xcluding accrued interest of $ 1.5 million and unamortized deposit discount in the amount of $ 72 thousand at September 30 , 2016 , and accrued interest of $ 1. 5 million , unamortized deposit discount of $ 311 thousand and equity indexed options of $ 1.1 million at December 31 , 2015 , the scheduled maturities of certificates of deposit are as follows: September 30, 2016 December 31, 2015 (In thousands) Within one year: Three (3) months or less $ 197,615 $ 474,051 Over 3 months through 1 year 592,382 501,551 789,997 975,602 Over 1 through 2 years 514,665 454,906 Over 2 through 3 years 165,838 176,406 Over 3 through 4 years 42,569 32,396 Over 4 through 5 years 43,816 33,715 $ 1,556,885 $ 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 $ 780 thousand as of September 30 , 2016 and $ 1. 5 million as of December 31 , 2015 . |
Borrowings
Borrowings | 9 Months Ended |
Sep. 30, 2016 | |
Debt Disclosure [Abstract] | |
Borrowings | NOTE 10 — BORROWINGS AND RELATED INTEREST Securities Sold under Agreements to Repurchase At September 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 September 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: September 30, December 31, 2016 2015 Fair Value of Fair Value of Borrowing Underlying Borrowing Underlying Balance Collateral Balance Collateral (In thousands) Federal Home Loan Bank of NY 42,135 44,883 - - JP Morgan Chase Bank NA $ 212,500 $ 231,967 $ 262,500 $ 283,483 Credit Suisse Securities (USA) LLC 402,000 429,111 670,000 737,887 Total $ 656,635 $ 705,961 $ 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 September 30 , 2016 : Weighted- Borrowing Average Maturity Year of Maturity Balance Coupon Settlement Date Date (In thousands) 2016 $ 21,635 0.570% 09/20/16 10/07/16 20,500 0.510% 09/30/16 10/07/16 170,000 1.500% 12/06/12 12/08/16 2017 232,000 4.780% 3/2/2007 3/2/2017 2018 212,500 1.420% 12/10/2012 04/29/18 $ 656,635 2.57% A 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 September 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 September 30 , 2016 and December 31 , 2015 . There was no cash collateral at September 30 , 2016 and December 31 , 2015 . September 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) Less than 90 days $ 212,135 1.31% $ 197,936 $ 437 $ 23,817 $ 222,190 Over 90 days $ 444,500 3.17% $ 481,455 $ 1,115 $ 1,201 $ 483,771 Total $ 656,635 2.57% $ 679,391 $ 1,552 $ 25,018 $ 705,961 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 September 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 September 30 , 2016 and December 31 , 2015 , the Company had an additional borrowing capacity with the FHLB- NY of $ 1.1 b illion and $ 770.6 million, respectively. At September 30 , 2016 and December 31 , 2015 , the weighted average remaining maturity of FHLB’s advances was 12.5 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 September 30 , 2016 . The following table shows a summary of these advances and their terms, excluding accrued interest in the amount of $ 293 thousand , at September 30 , 2016 : Weighted- Borrowing Average Maturity Year of Maturity Balance Coupon Settlement Date Date (In thousands) 2016 $ 36,938 0.57% 9/1/2016 10/3/2016 2017 4,091 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 9,623 2.59% 7/19/2013 7/20/2020 $ 105,652 1.61% 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 Outstanding s ubordinated capital notes amounted to $36.1 million and $102 .6 million at September 30 , 2016 and December 31 , 2015 , respectively. On September 29, 2016, the Company repaid $ 67.0 million of subordinated capital notes at maturity. |
Offset of Assets_Liabilities
Offset of Assets/Liabilities | 9 Months Ended |
Sep. 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 September 30 , 2016 and December 31 , 2015 : September 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 $ 1,503 $ - $ 1,503 $ 2,005 $ - $ (502) 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 September 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 $ 4,306 $ - $ 4,306 $ - $ 1,980 $ 2,326 Securities sold under agreements to repurchase 656,635 - 656,635 705,961 - (49,326) Total $ 660,941 $ - $ 660,941 $ 705,961 $ 1,980 $ (47,000) 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 | 9 Months Ended |
Sep. 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 nine -month periods ended September 30 , 2016 and 2015 was as follows: Quarter Ended September 30, Nine-Month Period Ended September 30, 2016 2015 2016 2015 (In thousands) (In thousands) Balance at the beginning of year $ 30,696 $ 33,318 $ 31,475 $ 27,011 New loans and disbursements 225 5,866 727 13,489 Repayments (2,376) (7,450) (3,657) (8,766) Balance at the end of period $ 28,545 $ 31,734 $ 28,545 $ 31,734 |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2016 | |
Income Taxes [Abstract] | |
Income Taxes | NOTE 1 3 — INCOME TAXES A t September 30 , 2016 and December 31 , 2015 , the Company’s net deferred tax asset amounted to $131.1 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 any existing valuation allowances recorded at September 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 September 30, 2016 and December 31, 2015 OIB , the Bank’s international banking entity subsidiary, had $ 1 17 thousand and $ 141 thousand, respectively, in income tax effect of unrecognized gain on available-for-sale securities included in other comprehensive income. Following the change in OIB’s applicable tax rate from 5% to 0% as a result of a Puerto Rico law adopted in 2011, this remaining tax balance will flow through income as these securities are repaid or sold in future periods. Dur ing the quarter s ended September 30, 2016 and 2015, $ 9 thousand and $ 11 thousand, respectively, related to this residual tax effect from OIB was reclassified from accumulated other comprehensive income into income tax provision. During the nine -month period s ended September 30, 2016 and 2015, $ 24 thousand and $ 33 thousand, respectively, related to this residual tax effect from OIB was reclassified from accumulated other comprehensive income into income tax provision. The Company classifies unrecognized tax benefits in other liabilities . These gross unrecognized tax benefits would affect the effective tax rate if realized. The balance of unrecognized tax benefits was $ 2. 0 million at September 30 , 2016 and $ 2.2 million at December 31 , 2015 . The Company had accrued $ 1 1 2 thousand at September 30 , 2016 and $ 175 thousand at December 31 , 2015 for the payment of interest and penalties relating to unrecognized tax benefits. During the quarter ended September 30, 2016, the Compa ny increase d unrecognized tax benefits by $1.1 million and released $1.3 million due to the expiration of the statute of limitations. Income tax expense for the quarters ended September 30 , 2016 and 2015 was $3.6 million and $562 thousand, respectively . Income tax expense for the nine-month periods ended September 30 , 2016 and 2015 was $ 15.1 million and $ 2.3 million, respectively. |
Regulatory Capital Requirements
Regulatory Capital Requirements | 9 Months Ended |
Sep. 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 September 30 , 2016 and December 31 , 2015 , the Company and the Bank met all capital adequacy requirements to w hich they are subject. As of September 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 September 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 September 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 September 30, 2016 Total capital to risk-weighted assets $ 860,581 18.71% $ 367,907 8.00% $ 459,884 10.00% Tier 1 capital to risk-weighted assets $ 801,882 17.44% $ 275,930 6.00% $ 367,907 8.00% Common equity tier 1 capital to risk-weighted assets $ 612,792 13.32% $ 206,948 4.50% $ 298,924 6.50% Tier 1 capital to average total assets $ 801,882 12.35% $ 259,711 4.00% $ 324,639 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 September 30, 2016 Total capital to risk-weighted assets $ 841,599 18.33% $ 367,256 8.00% $ 459,070 10.00% Tier 1 capital to risk-weighted assets $ 783,151 17.06% $ 275,442 6.00% $ 367,256 8.00% Common equity tier 1 capital to risk-weighted assets $ 783,151 17.06% $ 206,582 4.50% $ 298,396 6.50% Tier 1 capital to average total assets $ 783,151 12.11% $ 258,600 4.00% $ 323,250 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 | 9 Months Ended |
Sep. 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 September 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 September 30 , 2016 and December 31 , 2015 , the Bank’s legal surplus amounted to $ 74.8 million and $ 70.4 million, respectively. The amount transferred to the legal surplus account is not available for the payment of dividends to shareholders. Treasury Stock Under the Company’s current stock repurchase program it is authorized to purchase in the open market up to $ 70 million of its outstanding shares of common stock, of which approximately $ 7.7 million of authority remains. The shares of common stock repurchased are to be held by the Company as treasury shares. There were no repurchases during the nine -month period ended September 30 , 2016 . During the nine-month period ended September 30, 2015, the Company purchased 803,985 s hares under this program for a total of $ 8.9 million at an average price of $ 11.10 per share. The number of shares that may yet be purchased under the $70 million program is estimated at 764 ,674 and was calculated by dividing the remaining balance of $ 7.7 million by $ 10 .11 (closing price of the Company common stock at September 30 , 2016 ). The Company did not purchase any shares of its common stock during the nine -month period ended September 30 , 2016 and 2015 , other than through its publicly announced stock purchase program . The activity in connection with common shares held in treasury by the Company for the nine -month periods ended September 30 , 2016 and 2015 is set forth below : Nine-Month Period Ended September 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) (641) Common shares repurchased as part of the stock repurchase program - - 803,985 8,950 End of period 8,712,150 $ 104,874 8,757,960 $ 105,379 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 9 Months Ended |
Sep. 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 September 30 , 2016 and December 31 , 2015 consisted of: September 30, December 31, 2016 2015 (In thousands) Unrealized gain on securities available-for-sale which are not other-than-temporarily impaired $ 18,689 $ 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 (1,136) (1,924) Net unrealized gain on securities available-for-sale which are not other-than-temporarily impaired, net of tax 17,553 16,924 Unrealized loss on cash flow hedges (2,803) (4,307) Income tax effect of unrealized loss on cash flow hedges 1,094 1,380 Net unrealized loss on cash flow hedges (1,709) (2,927) Accumulated other comprehensive income, net of taxes $ 15,844 $ 13,997 The following table presents changes in accumulated other comprehensive income by component, net of taxes, for the quarters and nine -month periods ended September 30 , 2016 and 2015 : Quarter Ended September 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 $ 18,085 $ (2,280) $ 15,805 $ 18,832 $ (4,531) $ 14,301 Other comprehensive income (loss) before reclassifications (469) (144) (613) 3,175 (1,346) 1,829 Other-than-temporary impairment amount reclassified from accumulated other comprehensive income - - - 584 - 584 Amounts reclassified out of accumulated other comprehensive (loss) income (63) 715 652 (105) 1,547 1,442 Other comprehensive income (loss) (532) 571 39 3,654 201 3,855 Ending balance $ 17,553 $ (1,709) $ 15,844 $ 22,486 $ (4,330) $ 18,156 Nine-Month Period Ended September 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 $ 25,765 $ (6,054) $ 19,711 Other comprehensive (loss) before reclassifications (1,732) (2,550) (4,282) (4,037) (2,894) (6,931) Other-than-temporary impairment amount reclassified from accumulated other comprehensive income 2,557 - 2,557 584 - 584 Amounts reclassified out of accumulated other comprehensive income (loss) (196) 3,768 3,572 174 4,618 4,792 Other comprehensive income (loss) 629 1,218 1,847 (3,279) 1,724 (1,555) Ending balance $ 17,553 $ (1,709) $ 15,844 $ 22,486 $ (4,330) $ 18,156 The following table presents reclassifications out of accumulated other comprehensive income for the quarters and nine -month periods ended September 30 , 2016 and 2015 : Amount reclassified out of accumulated other comprehensive income Affected Line Item in Quarter Ended September 30, Consolidated Statement 2016 2015 of Operations (In thousands) Cash flow hedges: Interest-rate contracts $ 664 $ 1,622 Net interest expense Tax effect from increase in capital gains tax rate 51 (75) Income tax expense Available-for-sale securities: Residual tax effect from OIB's change in applicable tax rate 9 11 Income tax expense Other-than-temporary impairment losses on available for sale securities realized during the period - (246) Net impairment losses recognized in earnings Tax effect from increase in capital gains tax rate (72) 130 Income tax expense $ 652 $ 1,442 Amount reclassified out of accumulated other comprehensive income Affected Line Item in Nine-Month Period Ended September 30, Consolidated Statement 2016 2015 of Operations (In thousands) Cash flow hedges: Interest-rate contracts $ 3,468 $ 4,842 Net interest expense Tax effect from increase in capital gains tax rate 300 (224) Income tax expense Available-for-sale securities: Residual tax effect from OIB's change in applicable tax rate 24 33 Income tax expense Other-than-temporary impairment losses on available for sale securities - (246) Net impairment losses recognized in earnings Tax effect from increase in capital gains tax rate (220) 387 Income tax expense $ 3,572 $ 4,792 |
Earnings Per Common Share
Earnings Per Common Share | 9 Months Ended |
Sep. 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 nine -month periods ended September 30 , 2016 and 2015 is as follows: Quarter Ended September 30, Nine-Month Period Ended September 30, 2016 2015 2016 2015 (In thousands, except per share data) (In thousands, except per share data) Net income (loss) $ 15,120 $ 4,569 $ 43,630 $ (1,528) Less: Dividends on preferred stock Non-convertible preferred stock (Series A, B, and D) (1,627) (1,627) (4,883) (4,884) Convertible preferred stock (Series C) (1,838) (1,838) (5,513) (5,512) Income (loss) available to common shareholders $ 11,655 $ 1,104 $ 33,234 $ (11,924) Effect of assumed conversion of the convertible preferred stock 1,838 1,838 5,513 5,512 Income (loss) available to common shareholders assuming conversion $ 13,493 $ 2,942 $ 38,747 $ (6,412) Weighted average common shares and share equivalents: Average common shares outstanding 43,926 43,929 43,913 44,353 Effect of dilutive securities: Average potential common shares-options 47 46 40 85 Average potential common shares-assuming conversion of convertible preferred stock 7,138 7,171 7,138 7,171 Total weighted average common shares outstanding and equivalents 51,111 51,146 51,091 51,609 Earnings (loss) per common share - basic $ 0.27 $ 0.03 $ 0.76 $ (0.27) Earnings (loss) per common share - diluted $ 0.26 $ 0.03 $ 0.76 $ (0.27) In computing diluted earnings (loss) per common share, the 84,000 shares of convertible preferred stock, which remain outstanding at September 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 September 30 , 2016 and 2015 on the convert ible preferred stock were added back as income available to common shareholders. For the quarters ended September 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 927,069 and 973 , 200 , respectively . For the nine-month periods ended September 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 957,670 and 648 , 563 , respectively . |
Guarantees
Guarantees | 9 Months Ended |
Sep. 30, 2016 | |
Guarantees [Abstract] | |
Guarantees [Text Block] | NOTE 18 – GUARANTEES At September 30 , 2016 , the unamortized balance of the obligations undertaken in issuing the guarantees under standby letters of credit represented a liability of $ 2. 4 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 September 30 , 2016 and December 31 , 2015 , the unpaid princ ipal balance of residential mortgage loans sold subject to credit recourse was $ 2 0.4 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 nine-month periods ended September 30 , 2016 and 2015 . Quarter Ended September 30, Nine-Month Period Ended September 30, 2016 2015 2016 2015 (In thousands) (In thousands) Balance at beginning of period $ 162 $ 289 $ 439 $ 927 Net (charge-offs/terminations) recoveries 29 140 (248) (498) Balance at end of period $ 191 $ 429 $ 191 $ 429 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 nine-month period ended September 30 , 2016 , the Company repurchased approximately $ 133 thousand and $ 421 thousand , respectively of unpaid principal balance in mortgage loans subject to the credit recourse provisions. During the qu arter and nine- month period ended September 30 , 2015 , the Company repurchased approximately $ 1 65 thousand 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 righ ts to 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 interest advanced, and the costs of holding and disposing the related property. At September 30 , 2016 , the Company’s liability for estimated credit losses related to loans sold with credit recourse amounted to $ 191 thousand ( December 31 , 2015 – $ 439 thousa nd). When the Company sells or securitizes mortgage loans, it generally makes customary representations and warranties regarding the characteristics of the loans sold. The Company's mortgage operations division groups conforming mortgage loans into pools which are exchanged for FNMA and GNMA mortgage-backed securities 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 proc edures 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 l oss related to the loans. During the quarter and nine-month period ended September 30 , 2016 , the Company repurchased $ 791 thousand and $ 3.1 million , respectively, of unpaid principal balance in mortgage loans , excluding mortgage loans subject to credit rec ourse provisions referred to above. During the quarter and nine-month period ended September 30 , 2015 , the Company repurchased $ 7.7 million and $ 19.5 million, respectively , of unpaid principal balance in mortgage loans, excluding mortgage loans subject to credit recourse provisions referred to above . During the quarter and nine-month period ended September 30, 2016, the Company recognized $ 202 thousand and $ 313 thousand , respectively, in losses from the repurchase of residential mortgage loans sold subject to credit recourse, and $ 208 thousand and $ 1.0 million , 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 nine -month period ended September 30 , 2015 , the Company recognized $ 4 18 thousand and $ 1.0 million , respectively, in losses from the repurchase of residential mortgage loans sold subject to credit recourse, and $ 500 thousand and $ 2.0 million, respectively, in losses from the repurchas e of residential 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 inv estors, including 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 September 30 , 2016 , the Company serviced $ 752.5 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 o f attempting to collect on delinquent and defaulted mortgage loans. In addition, if a defaulted loan is not cured, the mortgage loan would be canceled as part of the foreclosure proceedings and the Company would not receive any future servicing income with respect to that loan. At September 30 , 2016 , the outstanding balance of funds advanced by the Company under such mortgage loan servicing agreements was approximately $ 330 thousand (December 31, 2015 - $ 301 thousand). To the extent the mortgage loans under lying the Company's servicing portfolio experience increased delinquencies, the Company would be required to dedicate additional cash resources to comply with its obligation to advance funds as well as incur additional administrative costs related to incre ases in collection efforts. |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 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 September 30 , 2016 and December 31 , 2015 were as follows: September 30, December 31, 2016 2015 (In thousands) Commitments to extend credit $ 516,134 $ 456,720 Commercial letters of credit 1,386 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 September 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 September 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 intend ed. However, the short-term nature of this instrument serves to mitigate the risk associated with these contracts. The summary of instruments that are considered financial guarantees in accordance with the authoritative guidance related to guarantor’s acc ounting and disclosure requirements for guarantees, including indirect guarantees of indebtedness of others, at September 30 , 2016 and December 31 , 2015 , is as follows: September 30, December 31, 2016 2015 (In thousands) Standby letters of credit and financial guarantees $ 4,809 $ 14,656 Loans sold with recourse 20,394 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 September 30 , 2016 and 2015 , amounted to $ 2. 0 million and $ 2.3 million, respectively. For the nine-month periods ended September 30 , 2016 and 2015 , rent expense amounted to $ 6.5 million and $ 7.0 million, respectively, and is included in the “occupancy and equipment” caption in the unaudited consolidated statements of opera tions. Future rental commitments under leases in effect at September 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 $ 1,864 2017 7,051 2018 6,512 2019 6,471 2020 5,744 Thereafter 12,563 $ 40,205 |
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 | 9 Months Ended |
Sep. 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 September 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. In the past, the Company offered its customers certificates of deposit with an option tied to the performance of the S&P Index and used equity indexed option agreements wi th major broker-dealers to manage its exposure to changes in this index. Their fair value was 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 pay off of these options was linked to the average value of the S&P Index on a specific set of dates during the life of the option. The methodology used an average rate option or a cash-settled option whose payoff was based on the difference between the expect ed average value of the S&P Index during the remaining life of the option and the strike price at inception. The assumptions, which were uncertain and required a degree of judgment, included primarily S&P Index volatility, forward interest rate projections , estimated index dividend payout, and leverage. At September 30 , 2016 there were no transaction outstanding. Servicing assets Servicing assets do not trade in an active market with readily observable prices. Servicing assets are priced using a discoun ted cash flow model. The valuation model considers servicing fees, portfolio characteristics, prepayment assumptions, delinquency rates, late charges, other ancillary revenues, cost to service and other economic factors. Due to the unobservable nature of c ertain 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 flows are based on in ternal 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 would generally resu lt 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 appraisals that take into consideration prices in observed transactions involving similar assets in similar locations, in accordance with the provisions of ASC 310-10-35 less disposition costs. Cu rrently, 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 repossesse d 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: September 30, 2016 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ - $ 642,683 $ - $ 642,683 Trading securities - 380 - 380 Money market investments 5,460 - - 5,460 Derivative assets - 1,503 - 1,503 Servicing assets - - 8,393 8,393 Derivative liabilities - (4,306) - (4,306) $ 5,460 $ 640,260 $ 8,393 $ 654,113 Non-recurring fair value measurements: Impaired commercial loans $ - $ - $ 36,601 $ 36,601 Foreclosed real estate - - 45,740 45,740 Other repossessed assets - - 3,449 3,449 $ - $ - $ 85,790 $ 85,790 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 - 1,853 1,172 3,025 Servicing assets - - 7,455 7,455 Derivative liabilities - (6,162) (1,095) (7,257) $ 4,699 $ 970,588 $ 7,532 $ 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 nine -month periods ended September 30 , 2016 and 2015 : Quarter Ended September 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 $ 187 $ 7,932 $ (181) $ 7,938 Gains (losses) included in earnings (187) - 181 (6) New instruments acquired - 466 - 466 Principal repayments - (123) (1) (124) Amortization - - 1 1 Changes in fair value of servicing assets - 118 - 118 Balance at end of period $ - $ 8,393 $ - $ 8,393 Nine-Month Period Ended September 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 $ 1,170 $ 7,455 $ (1,095) $ 7,530 Gains (losses) included in earnings (1,170) - 1,067 (103) New instruments acquired - 1,740 - 1,740 Principal repayments - (347) - (347) Amortization - - 28 28 Changes in fair value of servicing assets - (455) - (455) Balance at end of period $ - $ 8,393 $ - $ 8,393 Quarter Ended September 30, 2015 Derivative Derivative asset liability (S&P (S&P Purchased Servicing Embedded Level 3 Instruments Only Options) assets Options) Total Balance at beginning of period $ 2,138 $ 5,791 $ (2,044) $ 5,885 (Losses) gains included in earnings (1,023) - 972 (51) New instruments acquired - 748 - 748 Changes due to payments on loans - (242) - (242) Amortization - - 31 31 Changes in fair value of servicing assets - 166 - 166 Balance at end of period $ 1,115 $ 6,463 $ (1,041) $ 6,537 Nine-Month Period Ended September 30, 2015 Derivative Derivative asset liability (S&P (S&P Purchased Servicing Embedded Level 3 Instruments Only Options) assets Options) Total Balance at beginning of period $ 5,555 $ 13,992 $ (5,477) $ 14,070 (Losses) gains included in earnings (4,440) - 4,271 (169) Sale of mortgage servicing rights held-for-sale - (6,985) - (6,985) Changes due to payments on loans - (974) - (974) New instruments acquired - 2,808 - 2,808 Amortization - - 165 165 Changes in fair value related to price of MSRs held for sale - (2,716) - (2,716) Changes in fair value of servicing assets - 338 - 338 Balance at end of period $ 1,115 $ 6,463 $ (1,041) $ 6,537 D uring the quarters and nine -month periods ended September 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 September 30 , 2016 : September 30, 2016 Fair Value Valuation Technique Unobservable Input Range (In thousands) Servicing assets $ 8,393 Cash flow valuation Constant prepayment rate 5.18% - 10.49% Discount rate 10.00% - 12.00% Collateral dependant impaired loans $ 23,759 Fair value of property or collateral Appraised value less disposition costs 29.20% - 46.20% Non-collateral dependant impaired loans $ 12,840 Cash flow valuation Discount rate 4.25%-10.50% Foreclosed real estate $ 45,740 Fair value of property or collateral Appraised value less disposition costs 29.20% - 46.20% Other repossessed assets $ 3,449 Fair value of property or collateral Appraised value less disposition costs 29.20% - 46.20% Information about Sensitivity to Changes in Significant Unobservable Inputs Derivative asset (S&P Purchased Options) – The significant unobservable inputs used in the fair value measurement o f 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. General ly, 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), whic h may magnify or offset the sensitivities. Mortgage banking activities, a component of total banking and financial service revenue in the consolidated statements of operations, include the changes from period to period in the fair value of the mortgage loa n servicing rights, which may result from changes in the valuation model inputs or assumptions (principally reflecting changes in discount rates and prepayment speed assumptions) and other changes, including changes due to collection/realization of expecte d cash flows. Derivative liability (S&P Embedded Options) – The significant unobservable inputs used in the fair value measurement of the Company’s derivative liability related to S&P purchased options were implied option volatility and counterparty credi t 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 simil ar or opposite changes in the assumption used for counterparty credit risk. Fair Value of Financial Instruments The information about the estimated fair value of financial instruments required by GAAP is presented hereunder. The aggregate fair value amounts presented do not necessarily represent management’s estimate of the underlying value of the Company . The estimated fair va lue is subjective in nature, involves uncertainties and matters of significant judgment and , therefore, cannot be determined with precision. Changes in assumptions could affect these fair value estimates. The fair value estimates do not take into consideration the value of future business and the value of assets and liabilities that are not financial instruments. Other significant tangible and intangible assets that are not considered financial instruments are the value of long-ter m customer relationships of retail deposits, and premises and equipment. The estimated fair value and carrying value of the Company ’s financial instruments at September 30 , 2016 and December 31 , 2015 is as follows: September 30, December 31, 2016 2015 Fair Carrying Fair Carrying Value Value Value Value (In thousands) Level 1 Financial Assets: Cash and cash equivalents $ 509,265 $ 509,265 $ 536,709 $ 536,709 Restricted cash 3,030 3,030 3,349 3,349 Level 2 Financial Assets: Trading securities 380 380 288 288 Investment securities available-for-sale 642,683 642,683 974,609 974,609 Investment securities held-to-maturity 650,023 641,890 614,679 620,189 Federal Home Loan Bank (FHLB) stock 12,712 12,712 20,783 20,783 Other investments 3 3 3 3 Derivative assets 1,503 1,503 1,855 1,855 Financial Liabilities: Derivative liabilities 4,306 4,306 6,162 6,162 Level 3 Financial Assets: Total loans (including loans held-for-sale) 4,041,684 4,298,965 4,101,219 4,434,213 Derivative assets - - 1,170 1,170 FDIC indemnification asset 10,585 16,670 17,786 22,599 Accrued interest receivable 17,966 17,966 20,637 20,637 Servicing assets 8,393 8,393 7,455 7,455 Accounts receivable and other assets 49,733 49,733 42,786 42,786 Financial Liabilities: Deposits 4,738,963 4,754,771 4,705,878 4,716,656 Securities sold under agreements to repurchase 662,027 658,232 955,859 934,691 Advances from FHLB 106,811 105,944 335,812 332,476 Other borrowings 40 40 2,593 1,734 Subordinated capital notes 32,831 36,083 94,940 102,633 Accrued expenses and other liabilities 89,759 89,759 92,043 92,043 Derivative liabilities embedded in deposits - - 1,095 1,095 The following methods and assumptions were used to estimate the fair values of signi ficant financial instruments at September 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 underlying co vered 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 factors, which are determined based on current market conditions. • Th e fair values of the derivative instruments are provided by valuation experts and counterparties. Certain derivatives with limited market activity are valued using externally developed models that consider unobservable mar ket parameters. In the past, the C ompany offered its customers certificates of deposit with an option tied to the performance of the S&P Index and used equity indexed option agreements with major broker-dealers to manage its exposure to changes in this index. Their fair value was 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 was linked to the average value of the S&P Index on a specific set of dates during the life of the option. The methodology used an average rate option or a cash-settled option whose payoff was based on the difference between the expected average value of the S&P Index during the remaining life of the option and the strike price at incep tion. The assumptions, which were uncertain and required a degree of judgment, included primarily S&P Index volatility, forward interest rate projections, estimated index dividend payout, and leverage. At September 30 , 2016 , there were no transactions outs tanding . • 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. Th e projected cash flows are based on the forward yield curve, and discounted using current estimated market rates. • The fair value of the loan portfolio (including loans held-for-sale) is estimated by segregating by type, such as mort gage, commercial, con sumer, auto and leasing. Each loan segment is further segmented into fixed and adjustable interest rates and by performing and non-performing categories. The fair value of performing loans is calculated by discounting contractual cash flows, adjusted for p repayment 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 assu mption could result in a different fair value estimate . Non-performing loans have been valued at the carrying amounts. • The fair value of demand deposits and savings accounts is the amount payable on demand at the reporting date. The fair value of fixed- maturity certificates of deposit is based on the discounted value of the contractual cash flows, using estimated current market discount rates for deposits of similar remaining maturities. • The fair value of long-term borrowings , which include securities sold under agreements to repurchase, advances from FHLB , subordinated capital notes, and other long term borrowings is based on the discounted valu e of the contractual cash flows using current estimated market discount rates for b orrowings with similar terms, remaining maturities and put dates . |
Business Segment
Business Segment | 9 Months Ended |
Sep. 30, 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 nine -month periods ended September 30 , 2016 and 2015 : Quarter Ended September 30, 2016 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 82,564 $ 15 $ 8,005 $ 90,584 $ - $ 90,584 Interest expense (6,733) - (6,924) (13,657) - (13,657) Net interest income 75,831 15 1,081 76,927 - 76,927 Provision for loan and lease losses (23,469) - - (23,469) - (23,469) Non-interest income 8,918 6,379 4,918 20,215 - 20,215 Non-interest expenses (50,095) (3,757) (1,074) (54,926) - (54,926) Intersegment revenue 375 - 86 461 (461) - Intersegment expenses (86) (272) (103) (461) 461 - Income before income taxes $ 11,474 $ 2,365 $ 4,908 $ 18,747 $ - $ 18,747 Total assets $ 5,715,958 $ 19,433 $ 1,801,752 $ 7,537,143 $ (945,031) $ 6,592,112 Quarter Ended September 30, 2015 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 97,264 $ 25 $ 9,958 $ 107,247 $ - $ 107,247 Interest expense (7,036) - (10,388) (17,424) - (17,424) Net interest income 90,228 25 (430) 89,823 - 89,823 Provision for loan and lease losses (51,579) - - (51,579) - (51,579) Non-interest (loss) income 30,098 6,513 (634) 35,977 - 35,977 Non-interest expenses (63,106) (5,063) (921) (69,090) - (69,090) Intersegment revenue 351 - 69 420 (420) - Intersegment expenses (69) (252) (99) (420) 420 - Income (loss) before income taxes $ 5,923 $ 1,223 $ (2,015) $ 5,131 $ - $ 5,131 Total assets $ 5,990,125 $ 20,594 $ 2,117,569 $ 8,128,288 $ (924,466) $ 7,203,822 Nine-Month Period Ended September 30, 2016 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 243,389 $ 49 $ 26,360 $ 269,798 $ - $ 269,798 Interest expense (20,840) - (23,744) (44,584) - (44,584) Net interest income 222,549 49 2,616 225,214 - 225,214 Provision for loan and lease losses (51,703) - - (51,703) - (51,703) Non-interest income 24,927 19,309 4,637 48,873 - 48,873 Non-interest expenses (147,881) (11,610) (4,117) (163,608) - (163,608) Intersegment revenue 1,162 - 235 1,397 (1,397) - Intersegment expenses (235) (849) (313) (1,397) 1,397 - Income before income taxes $ 48,819 $ 6,899 $ 3,058 $ 58,776 $ - $ 58,776 Nine-Month Period Ended September 30, 2015 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 285,251 $ 71 $ 28,339 $ 313,661 $ - $ 313,661 Interest expense (21,600) - (30,311) (51,911) - (51,911) Net interest income 263,651 71 (1,972) 261,750 - 261,750 Provision for loan and lease losses (109,311) - - (109,311) - (109,311) Non-interest income 16,136 20,416 1,650 38,202 - 38,202 Non-interest expenses (169,264) (16,586) (4,009) (189,859) - (189,859) Intersegment revenue 1,058 - 228 1,286 (1,286) - Intersegment expenses (228) (770) (288) (1,286) 1,286 - Income (loss) before income taxes $ 2,042 $ 3,131 $ (4,391) $ 782 $ - $ 782 |
Accounting Policies (Policies)
Accounting Policies (Policies) | 9 Months Ended |
Sep. 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 August 2016, the Financial Accounting Standards Board (FASB) issued new accounting guidance that a ddresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. The amendments in this u pdate apply to all entities, including both business entities and not-for-profit entities that are required to present a statement of cash flows under Topic 230. The amendments in this u pdate clarifies whether the following items shoul d be categorized as operating, investing or financing in the statement of cash flows: ( i ) debt prepayments and extinguishment costs, (ii) settlement of zero-coupon debt, (iii) settlement of contingent consideration, (iv) insurance proceeds, (v) settlement of corporate-owned life insurance (COLI) and bank-owned life insurance (BOLI) policies, (vi) distributions from equity method investees, (vii) beneficial interests in securitization transactions, and (viii) receipts and payments with aspects of more than o ne class of cash flows. The new guidance is effective on Ja nuary 1, 2018. The Company does not expect the new accounting guidance to have a material impact on its statement of cash flows. In June 2016, the FASB issued new accounting guidance that will req uire 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 fo r financial instruments held at the reporting date based on historical experience, current conditions and reasonable and supportable forecasts. The expected loss model will apply to loans and leases, unfunded lending commitments, held-to-maturity (HTM) deb t securities and other debt instruments measured at amortized cost. The impairment 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, r egardless of whether the impairment is considered to be other-than-temporary. 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 th is 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 liab ilities, and classification on the statement of cash flows. The new guidance 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 consoli dated financial position or results of operations. In February 2016, the FASB 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 evaluati ng the impact of the provisions of this new accounting guidance on its consolidated financial position. In January 2 016, the FASB issued new accounting guidance on recognition and measurement of financial instruments. The new guidance makes targeted changes to existing Generally Accepted Accounting Principles ( GAAP ) including, among other provisions, requiring certain e quity investments to be measured 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 ne w 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 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 . |
Restricted Cash (Tables)
Restricted Cash (Tables) | 9 Months Ended |
Sep. 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 September 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) | 9 Months Ended |
Sep. 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 September 30 , 2016 and December 31 , 2015 were as follows: September 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 $ 376,242 $ 13,365 $ - $ 389,607 2.60% GNMA certificates 125,188 5,797 - 130,985 3.02% CMOs issued by US government-sponsored agencies 111,808 398 370 111,836 1.88% Total mortgage-backed securities 613,238 19,560 370 632,428 2.56% Investment securities Obligations of US government-sponsored agencies 4,170 - 5 4,165 1.37% Obligations of Puerto Rico government and public instrumentalities 4,680 - 607 4,073 5.55% Other debt securities 1,906 111 - 2,017 2.94% Total investment securities 10,756 111 612 10,255 3.47% Total securities available for sale $ 623,994 $ 19,671 $ 982 $ 642,683 2.57% Held-to-maturity Mortgage-backed securities FNMA and FHLMC certificates $ 616,883 8,141 18 625,006 2.17% Investment securities US Treasury securities 25,007 10 - 25,017 0.49% Total securities held to maturity 641,890 8,151 18 650,023 2.11% Total $ 1,265,884 $ 27,822 $ 1,000 $ 1,292,706 2.34% 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 political subdivisions 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 September 30 , 2016 , by contractual maturity, are shown in the next table. September 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 1 to 5 years FNMA and FHLMC certificates $ 11,294 $ 11,629 $ - $ - Total due from 1 to 5 years 11,294 11,629 - - Due from 5 to 10 years CMOs issued by US Government-sponsored agencies 2,244 2,245 - - FNMA and FHLMC certificates 27,173 27,837 - - Total due from 5 to 10 years 29,417 30,082 - - Due after 10 years FNMA and FHLMC certificates 337,775 350,141 616,883 625,006 GNMA certificates 125,188 130,985 - - CMOs issued by US government-sponsored agencies 109,564 109,591 - - Total due after 10 years 572,527 590,717 616,883 625,006 Total mortgage-backed securities 613,238 632,428 616,883 625,006 Investment securities US Treasury securities - - 25,007 25,017 Total due in less than one year - - 25,007 25,017 Due from 1 to 5 years Obligations of Puerto Rico government and public instrumentalities 4,680 4,073 - - Total due from 1 to 5 years 4,680 4,073 - - Due from 5 to 10 years Obligations of US government and sponsored agencies 4,170 4,165 - - Other debt securities 1,906 2,017 - - Total due from 5 to 10 years 6,076 6,182 - - Total investment securities 10,756 10,255 25,007 25,017 Total securities available-for-sale and held-to-maturity $ 623,994 $ 642,683 $ 641,890 $ 650,023 |
Realized Gain Loss On Investments Table Text Block | Nine-Month Period Ended September 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 Nine-Month Period Ended September 30, 2015 Book Value Description Sale Price at Sale Gross Gains Gross Losses (In thousands) Sale of securities available-for-sale Mortgage-backed securities FNMA and FHLMC certificates $ 40,307 $ 37,736 $ 2,571 $ - GNMA certificates 63,524 63,523 1 - Total $ 103,831 $ 101,259 $ 2,572 $ - |
Unrealized Gain Loss On Investments Table Text Block | The following table s show the Company ’s gross unrealized losses and fair value of investment securities availab le-for-sale and held-to-maturity , aggregated by investment category and the length of time that individual securities have been in a continuo us unrealized loss position at September 30, 2016 12 months or more Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies $ 37,579 $ 320 $ 37,259 Obligations of Puerto Rico government and public instrumentalities 4,680 607 4,073 $ 42,259 $ 927 $ 41,332 Less than 12 months Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US Government-sponsored agencies 13,181 50 13,131 Obligations of US government and sponsored agencies 4,170 5 4,165 Securities held to maturity FNMA and FHLMC certificates 21,240 18 21,222 $ 38,591 $ 73 $ 38,518 Total Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies $ 50,760 $ 370 $ 50,390 Obligations of Puerto Rico Government and political subdivisions 4,680 607 4,073 Obligations of US government and sponsored agencies 4,170 5 4,165 Securities held to maturity FNMA and FHLMC certificates 21,240 18 21,222 $ 80,850 $ 1,000 $ 79,850 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 | Nine-Month Period Ended September 30, 2016 2015 Balance at beginning of period $ 1,490 $ - Reductions for securities sold during the period (realized) (1,490) - Additions from credit losses recognized on available-for-sale securities that had no previous impairment losses - 246 Balance at end of period $ - $ 246 |
Loans Receivable (Tables)
Loans Receivable (Tables) | 9 Months Ended | |
Sep. 30, 2016 | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Schedule Of Accounts Notes Loans And Financing Receivable Text Block | September 30, December 31, 2016 2015 (In thousands) Originated and other loans and leases held for investment: (c) Mortgage $ 735,367 $ 757,828 Commercial 1,267,177 1,441,649 Consumer 278,666 242,950 Auto and leasing 730,589 669,163 3,011,799 3,111,590 Allowance for loan and lease losses on originated and other loans and leases (62,168) (112,626) 2,949,631 2,998,964 Deferred loan costs, net 5,421 4,203 Total originated and other loans loans held for investment, net 2,955,052 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 5,755 7,457 Consumer 34,215 38,385 Auto 64,393 106,911 104,363 152,753 Allowance for loan and lease losses on acquired BBVAPR loans accounted for under ASC 310-20 (b) (4,213) (5,542) 100,150 147,211 Accounted for under ASC 310-30 (Loans acquired with deteriorated credit quality, including those by analogy) (a) Mortgage 579,769 608,294 Commercial 230,163 287,311 Construction 71,436 88,180 Consumer 5,768 11,843 Auto 100,475 153,592 987,611 1,149,220 Allowance for loan and lease losses on acquired BBVAPR loans accounted for under ASC 310-30 (29,819) (25,785) 957,792 1,123,435 Total acquired BBVAPR loans, net 1,057,942 1,270,646 Acquired Eurobank loans: (a) Loans secured by 1-4 family residential properties 75,043 92,273 Commercial and construction 82,753 142,377 Consumer 1,488 2,314 Total Eurobank loans 159,284 236,964 Allowance for loan and lease losses on Eurobank loans (b) (22,812) (90,178) Total Eurobank loans, net 136,472 146,786 Total acquired loans, net 1,194,414 1,417,432 Total held for investment, net 4,149,466 4,420,599 Mortgage loans held for sale 26,362 13,614 Other loans held for sale (c) 123,137 - Total loans, net $ 4,298,965 $ 4,434,213 (a) Current period amounts have been re-measured using the revised de-recognition policy for purchased credit impaired loans implemented in the second quarter of 2016. (b) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was de-recognized due to the revision in the de-recognition policy for these loans implemented during the second quarter of 2016. (c) During the third quarter of 2016, the Company entered into an agreement to sell its outstanding participation in the PREPA line of credit. At September 30, 2016 this line of credit was reported as other loans held for sale, at fair value of $123.1 million. | [1],[2],[3] |
Past Due Financing Receivables [Table Text Block] | The following table s present the aging of the recorded investment in gross originated and other loans held for investment as of September 30 , 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 September 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 $ 190 $ 1,607 $ 3,388 $ 5,185 $ 92 $ 47,169 $ 52,446 $ 114 Years 2003 and 2004 249 4,271 6,142 10,662 332 81,915 92,909 - Year 2005 123 1,810 3,930 5,863 202 44,617 50,682 - Year 2006 781 3,434 7,045 11,260 321 60,358 71,939 - Years 2007, 2008 and 2009 929 2,182 11,283 14,394 46 66,407 80,847 569 Years 2010, 2011, 2012, 2013 452 2,777 10,497 13,726 - 129,710 143,436 571 Years 2014, 2015 and 2016 - 430 1,150 1,580 47 102,789 104,416 - 2,724 16,511 43,435 62,670 1,040 532,965 596,675 1,254 Non-traditional - 301 5,002 5,303 - 19,036 24,339 - Loss mitigation program 10,908 6,571 18,315 35,794 2,704 65,918 104,416 2,120 13,632 23,383 66,752 103,767 3,744 617,919 725,430 3,374 Home equity secured personal loans - - - - - 339 339 - GNMA's buy-back option program - - 9,598 9,598 - - 9,598 - Total mortgage 13,632 23,383 76,350 113,365 3,744 618,258 735,367 3,374 Commercial Commercial secured by real estate: Corporate - - - - - 240,458 240,458 - Institutional - - - - 1,495 27,265 28,760 - Middle market - 205 3,114 3,319 1,406 232,088 236,813 - Retail 672 707 6,477 7,856 3,710 236,983 248,549 - Floor plan - - - - - 2,793 2,793 - Real estate - - - - - 15,783 15,783 - 672 912 9,591 11,175 6,611 755,370 773,156 - Other commercial and industrial: Corporate - - - - - 126,325 126,325 - Institutional 500 - - 500 1,345 172,988 174,833 - Middle market - - - - 1,350 85,349 86,699 - Retail 1,112 311 1,060 2,483 210 71,252 73,945 - Floor plan 670 - 119 789 - 31,430 32,219 - 2,282 311 1,179 3,772 2,905 487,344 494,021 - Total commercial 2,954 1,223 10,770 14,947 9,516 1,242,714 1,267,177 - September 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 486 264 510 1,260 - 24,204 25,464 - Overdrafts 12 3 3 18 - 178 196 - Personal lines of credit 38 18 37 93 - 2,199 2,292 - Personal loans 2,154 1,657 926 4,737 778 229,480 234,995 - Cash collateral personal loans 162 2 30 194 - 15,525 15,719 - Total consumer 2,852 1,944 1,506 6,302 778 271,586 278,666 - Auto and leasing 46,564 18,738 8,407 73,709 115 656,765 730,589 - Total $ 66,002 $ 45,288 $ 97,033 $ 208,323 $ 14,153 $ 2,789,323 $ 3,011,799 $ 3,374 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 September 30 , 2016 and December 31 , 2015 , by class of loans : September 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 $ - $ - $ 150 $ 150 $ - $ - $ 150 $ - Floor plan 969 - 227 1,196 - 1,286 2,482 - 969 - 377 1,346 - 1,286 2,632 - Other commercial and industrial Retail 67 56 78 201 - 2,919 3,120 - Floor plan - - 3 3 - - 3 - 67 56 81 204 - 2,919 3,123 - 1,036 56 458 1,550 - 4,205 5,755 - Consumer Credit cards 827 443 641 1,911 - 29,452 31,363 - Personal loans 95 15 62 172 - 2,680 2,852 - 922 458 703 2,083 - 32,132 34,215 - Auto 4,321 1,608 739 6,668 4 57,721 64,393 - Total $ 6,279 $ 2,122 $ 1,900 $ 10,301 $ 4 $ 94,058 $ 104,363 $ - 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 September 30 , 2016 and December 31 , 2015 is as follows: September 30, December 31, 2016 2015 (In thousands) Contractual required payments receivable (a) $ 1,716,721 $ 1,945,098 Less: Non-accretable discount 367,754 434,190 Cash expected to be collected 1,348,967 1,510,908 Less: Accretable yield 361,356 361,688 Carrying amount, gross 987,611 1,149,220 Less: allowance for loan and lease losses (b) 29,819 25,785 Carrying amount, net $ 957,792 $ 1,123,435 (a) Current period amounts have been re-measured using the revised de-recognition policy for purchased credit impaired loans implemented in the second quarter of 2016. (b) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was de-recognized due to the revision in the de-recognition policy for these loans implemented during the second quarter of 2016. | |
Accretable Yield for Acquired Loans [Table Text Block] | The following tables describe the accretable yield and non- accretable discount activity of acquired BBVAPR loans accounted f or under ASC 310-30 for the Quarter Ended September 30, 2016 Mortgage Commercial Construction Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 283,823 $ 37,059 $ 15,248 $ 14,103 $ 4,885 $ 355,118 Accretion (8,197) (5,201) (1,485) (3,107) (662) (18,652) Change in expected cash flows (1) 1,764 (1) 618 (241) 2,139 Transfer from (to) non-accretable discount 24,056 (1,296) 283 (525) 233 22,751 Balance at end of period $ 299,681 $ 32,326 $ 14,045 $ 11,089 $ 4,215 $ 361,356 Non-Accretable Discount Activity: Balance at beginning of period $ 336,153 $ 10,582 $ 7,419 $ 22,121 $ 18,225 $ 394,500 Change in actual and expected losses (2,591) (1,215) (1) (309) 121 (3,995) Transfer (to) from accretable yield (24,056) 1,296 (283) 525 (233) (22,751) Balance at end of period $ 309,506 $ 10,663 $ 7,135 $ 22,337 $ 18,113 $ 367,754 Nine-Month Period Ended September 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 (24,798) (16,312) (4,661) (10,934) (2,470) (59,175) Change in expected cash flows (1) 4,954 (209) 1,249 (242) 5,751 Transfer from (to) non-accretable discount 55,686 (1,727) (700) (804) 637 53,092 Balance at end of period $ 299,681 $ 32,326 $ 14,045 $ 11,089 $ 4,215 $ 361,356 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 (9,580) (2,845) (329) (506) (84) (13,344) Transfer (to) from accretable yield (55,686) 1,727 700 804 (637) (53,092) Balance at end of period $ 309,506 $ 10,663 $ 7,135 $ 22,337 $ 18,113 $ 367,754 Quarter Ended September 30, 2015 Mortgage Commercial Construction Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 275,880 $ 71,563 $ 24,613 $ 31,531 $ 8,461 $ 412,048 Accretion (8,614) (12,693) (2,719) (5,463) (1,207) (30,696) Change in actual and expected losses - 6,134 1,396 (1) (1) 7,528 Transfer from (to) non-accretable discount 75 (6,450) (4,075) 148 35 (10,267) Balance at end of period $ 267,341 $ 58,554 $ 19,215 $ 26,215 $ 7,288 $ 378,613 Non-Accretable Discount Activity: Balance at beginning of period $ 389,107 $ 10,770 $ 6,994 $ 23,690 $ 19,356 $ 449,917 Change in actual and expected losses (2,184) (12,090) (2,937) (555) (315) (18,081) Transfer (to) from accretable yield (75) 6,450 4,075 (148) (35) 10,267 Balance at end of period $ 386,848 $ 5,130 $ 8,132 $ 22,987 $ 19,006 $ 442,103 Nine-Month Period Ended September 30, 2015 Mortgage Commercial Construction Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 298,364 $ 61,196 $ 25,829 $ 53,998 $ 6,559 $ 445,946 Accretion (26,414) (33,049) (8,672) (18,614) (3,420) (90,169) Change in actual and expected losses - 6,134 1,396 (1) (1) 7,528 Transfer (to) from non-accretable discount (4,609) 24,273 662 (9,168) 4,150 15,308 Balance at end of period $ 267,341 58,554 19,215 26,215 7,288 378,613 Non-Accretable Discount Activity: Balance at beginning of period $ 389,839 $ 23,069 $ 3,486 $ 16,215 $ 24,018 $ 456,627 Change in actual and expected losses (7,600) 6,334 5,308 (2,396) (862) 784 Transfer from (to) accretable yield 4,609 (24,273) (662) 9,168 (4,150) (15,308) Balance at end of period $ 386,848 $ 5,130 $ 8,132 $ 22,987 $ 19,006 $ 442,103 | |
Eurobank loans carrying amount [Table Text Block] | Acquired Eurobank Loans The carrying amount of acquired Eurobank loans at September 30 , 2016 and December 31 , 2015 is as follows: September 30 December 31 2016 2015 (In thousands) Contractual required payments receivable (a) $ 243,873 $ 342,511 Less: Non-accretable discount 7,934 21,156 Cash expected to be collected 235,939 321,355 Less: Accretable yield 76,655 84,391 Carrying amount, gross 159,284 236,964 Less: Allowance for loan and lease losses (b) 22,812 90,178 Carrying amount, net $ 136,472 $ 146,786 (a) Current period amounts have been re-measured using the revised de-recognition policy for purchased credit impaired loans implemented in the second quarter of 2016. (b) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was de-recognized due to the revision in the de-recognition policy for these loans implemented during the second quarter of 2016. | |
Accretable Yield for Acquired Eurobank Loans [Table Text Block] | The following tables describe the accretable yield and non- a ccretable discount activity of acquired Eurobank loans for the quarters and nine-month periods ended September 30 , 2016 and 2015 : Quarter Ended September 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 $ 48,336 $ 29,142 $ 2,204 $ - $ - $ 79,682 Accretion (2,217) (6,570) - (62) (490) (9,339) Change in expected cash flows 646 1,719 (8) 62 490 2,909 Transfer from (to) non-accretable discount 3,737 (188) (146) - - 3,403 Balance at end of year $ 50,502 $ 24,103 $ 2,050 $ - $ - $ 76,655 Non-Accretable Discount Activity: Balance at beginning of period $ 11,555 $ - $ - $ - $ - $ 11,555 Change in actual and expected losses (845) 617 10 - - (218) Transfer from (to) accretable yield (3,737) 188 146 - - (3,403) Balance at end of period $ 6,973 $ 805 $ 156 $ - $ - $ 7,934 Nine-Month Period Ended September 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 $ - $ 3,212 $ 84,391 Accretion (6,746) (15,193) (47) (60) (1,751) (23,797) Change in expected cash flows 1,432 14,431 (31) (15) (1,456) 14,361 Transfer from (to) non-accretable discount 3,862 (2,105) (127) 75 (5) 1,700 Balance at end of period $ 50,502 $ 24,103 $ 2,050 $ - $ - $ 76,655 Non-Accretable Discount Activity: Balance at beginning of period $ 12,869 $ - $ - $ - $ 8,287 $ 21,156 Change in actual and expected losses (2,034) (1,300) 29 75 (8,292) (11,522) Transfer (to) from accretable yield (3,862) 2,105 127 (75) 5 (1,700) Balance at end of period $ 6,973 $ 805 $ 156 $ - $ - $ 7,934 Quarter Ended September 30, 2015 Loans Secured by 1-4 Family Residential Properties Commercial and Other Construction Construction & Development Secured by 1-4 Family Residential Properties Leasing Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 55,806 $ 27,473 $ 18,349 $ 1,103 $ 1,910 $ 104,641 Accretion (3,543) (10,100) (1,446) (711) (214) (16,014) Change in expected cash flows 4,320 43,775 (10,749) 270 118 37,734 Transfer from non-accretable discount (2,188) (30,400) 175 307 1,603 (30,503) Balance at end of period $ 54,395 $ 30,748 $ 6,329 $ 969 $ 3,417 $ 95,858 Non-Accretable Discount Activity: Balance at beginning of period $ 11,402 $ - $ - $ - $ 9,730 $ 21,132 Change in actual and expected losses (8) (30,400) 175 307 (34) (29,960) Transfer to accretable yield 2,188 30,400 (175) (307) (1,603) 30,503 Balance at end of period $ 13,582 $ - $ - $ - $ 8,093 $ 21,675 Nine-Month Period Ended September 30, 2015 Loans Secured by 1-4 Family Residential Properties Commercial and Other Construction Construction & Development Secured by 1-4 Family Residential Properties Leasing Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 47,636 $ 37,919 $ 20,753 $ 2,479 $ 1,072 $ 109,859 Accretion (10,337) (28,002) (2,470) (3,040) (427) (44,276) Change in Expected Cash Flows 4,320 43,775 (10,749) 270 118 37,734 Transfer from (to) non-accretable discount 12,776 (22,944) (1,205) 1,260 2,654 (7,459) Balance at end of period $ 54,395 $ 30,748 $ 6,329 $ 969 $ 3,417 $ 95,858 Non-Accretable Discount Activity: Balance at beginning of period $ 27,348 $ 24,464 $ - $ - $ 10,598 $ 62,410 Change in actual and expected cash flows (990) (47,408) (1,205) 1,260 149 (48,194) Transfer (to) from accretable yield (12,776) 22,944 1,205 (1,260) (2,654) 7,459 Balance at end of period $ 13,582 $ - $ - $ - $ 8,093 $ 21,675 | |
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 September 30 , 2016 and December 31 , 2015 : September 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 $ 3,436 $ 3,786 Years 2003 and 2004 6,474 5,737 Year 2005 4,367 3,627 Year 2006 7,412 8,189 Years 2007, 2008 and 2009 10,931 14,625 Years 2010, 2011, 2012, 2013 10,059 10,588 Years 2014, 2015 and 2016 1,197 663 43,876 47,215 Non-traditional 5,002 5,092 Loss mitigation program 21,485 20,172 70,363 72,479 Home equity loans, secured personal loans - 64 70,363 72,543 Commercial Commercial secured by real estate Middle market 4,726 12,729 Retail 11,040 8,726 15,766 21,455 Other commercial and industrial Institutional 1,845 190,290 Middle market 1,350 1,565 Retail 2,101 1,932 Floor plan 790 39 6,086 193,826 21,852 215,281 Consumer Credit cards 510 369 Personal lines of credit 37 100 Personal loans 1,890 1,146 Cash collateral personal loans 30 16 2,467 1,631 Auto and leasing 9,477 8,418 Total non-accrual originated loans $ 104,159 $ 297,873 September 30, December 31, 2016 2015 (In thousands) Acquired BBVAPR loans accounted for under ASC 310-20 Commercial Commercial secured by real estate Retail $ 150 $ 228 Floor plan 227 467 377 695 Other commercial and industrial Retail 78 178 Floor plan 3 7 81 185 458 880 Consumer Credit cards 641 489 Personal loans 62 46 703 535 Auto 777 831 Total non-accrual acquired BBVAPR loans accounted for under ASC 310-20 1,938 2,246 Total non-accrual loans $ 106,097 $ 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 September 30 , 2016 and December 31 , 2015 are as follows : September 30, 2016 Unpaid Recorded Related Principal Investment Allowance Coverage (In thousands) Impaired loans with specific allowance: Commercial $ 16,915 $ 14,949 $ 5,572 38% Residential impaired and troubled-debt restructuring 100,390 92,343 8,725 9% Impaired loans with no specific allowance: Commercial 27,908 21,420 - 0% Total investment in impaired loans $ 145,213 $ 128,712 $ 14,297 11% 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 September 30 , 2016 and December 31 , 2015 are as follows: September 30, 2016 Unpaid Recorded Related Principal Investment Allowance Coverage (In thousands) Impaired loans with no specific allowance Commercial $ 251 $ 230 $ - 0% Total investment in impaired loans $ 251 $ 230 $ - 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 September 30 , 2016 and December 31 , 2015 are as follows September 30, 2016 Coverage Unpaid Recorded to Recorded Principal Investment Allowance Investment (In thousands) Impaired loan pools with specific allowance: (a)(b) Mortgage $ 608,751 $ 579,770 $ 2,664 0% Commercial 168,980 164,061 17,878 11% Construction 52,775 51,271 4,120 8% Auto 107,358 100,475 5,157 5% Total investment in impaired loan pools $ 937,864 $ 895,577 $ 29,819 3% (a) Current period amounts have been re-measured using the revised derecognition policy for purchased credit impaired loans implemented in the second quarter of 2016. (b) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was derecognized due to the revision in the derecognition policy for these loans implemented during the second quarter of 2016. 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 September 30 , 2016 and December 31 , 2015 are as follows : September 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 $ 83,216 $ 70,337 $ 12,268 17% Commercial and construction 57,889 53,445 10,544 20% Consumer - 1,488 - 0% Total investment in impaired loan pools $ 141,105 $ 125,270 $ 22,812 18% (a) Current period amounts have been re-measured using the revised derecognition policy for purchased credit impaired loans implemented in the second quarter of 2016. (b) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was derecognized due to the revision in the derecognition policy for these loans implemented during the second quarter of 2016. 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 nine -month periods ended September 30 , 2016 and 2015 : Quarter Ended September 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 $ 162 $ 73,729 $ 37 $ 207,610 Residential troubled-debt restructuring 765 91,345 788 90,278 Impaired loans with no specific allowance Commercial 259 62,946 365 31,159 1,186 228,020 1,190 329,047 Acquired loans accounted for under ASC 310-20: Impaired loans with specific allowance Commercial $ 15 $ 323 $ - $ - Impaired loans with no specific allowance Commercial - 952 - 1,077 Total interest income from impaired loans $ 1,201 $ 229,295 $ 1,190 $ 330,124 Nine-Month Period Ended September 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 $ 202 $ 155,094 $ 73 $ 166,633 Residential troubled-debt restructuring 2,321 90,881 2,381 90,903 Impaired loans with no specific allowance Commercial 749 42,050 727 74,247 Total interest income from impaired loans $ 3,272 $ 288,025 $ 3,181 $ 331,783 Aquired loans accounted for under SC 310-20: Impaired loans with specific allowance Commercial $ 45 $ 108 $ - $ - Impaired loans with no specific allowance Commercial - 736 - 1,641 Total interest income from impaired loans $ 3,317 $ 288,869 $ 3,181 $ 333,424 | |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Quarter Ended September 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 20 $ 2,737 6.28% 297 $ 2,768 4.72% 387 Commercial 5 7,352 5.31% 65 7,352 5.89% 130 Consumer 20 183 14.73% 72 210 12.72% 54 Nine-Month Period Ended September 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 72 $ 9,558 6.00% 347 $ 9,284 4.69% 462 Commercial 13 8,675 5.53% 63 8,676 5.95% 120 Consumer 67 739 13.63% 74 813 11.12% 67 Quarter Ended September 30, 2015 Number of contracts Pre-Modification Outstanding Recorded Investment Pre-Modification Weighted Average Rate Pre-Modification Weighted Average Term (in Months) Post-Modification Outstanding Recorded Investment Post-Modification Weighted Average Rate Post-Modification Weighted Average Term (in Months) (Dollars in thousands) Mortgage 30 $ 3,846 6.34% 338 $ 3,992 4.45% 180 Commercial 3 1,001 6.50% 12 8,511 3.19% 12 Consumer 27 170 12.41% 70 400 12.32% 52 Nine-Month Period Ended September 30, 2015 Number of contracts Pre-Modification Outstanding Recorded Investment Pre-Modification Weighted Average Rate Pre-Modification Weighted Average Term (in Months) Post-Modification Outstanding Recorded Investment Post-Modification Weighted Average Rate Post-Modification Weighted Average Term (in Months) (Dollars in thousands) Mortgage 127 $ 15,455 5.07% 346 $ 15,586 4.21% 306 Commercial 7 5,534 6.77% 67 13,045 4.52% 57 Consumer 59 567 13.87% 71 840 13.33% 60 Auto 1 64 12.95% 72 65 12.95% 72 Twelve-Month Period Ended September 30, 2016 2015 Number of Contracts Recorded Investment Number of Contracts Recorded Investment (Dollars in thousands) Mortgage 23 $ 3,437 49 $ 5,396 Commercial 2 $ 157 - $ - Consumer 7 $ 68 8 $ 177 Auto - $ - 1 $ 64 | |
Financing Receivable Credit Quality Indicators [Table Text Block] | As of September 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: September 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 $ 240,458 $ 225,559 $ 14,899 $ - $ - $ - Institutional 28,760 25,745 - - - 3,015 Middle market 236,813 200,191 23,628 517 - 12,477 Retail 248,549 224,865 6,486 4,435 - 12,763 Floor plan 2,793 1,824 - - - 969 Real estate 15,783 15,783 - - - - 773,156 693,967 45,013 4,952 - 29,224 Other commercial and industrial: Corporate 126,325 126,325 - - - - Institutional 174,833 172,749 239 - - 1,845 Middle market 86,699 80,606 4,582 161 - 1,350 Retail 73,945 68,670 863 1,328 - 3,084 Floor plan 32,219 27,396 3,876 81 - 866 494,021 475,746 9,560 1,570 - 7,145 Total 1,267,177 1,169,713 54,573 6,522 - 36,369 Commercial - acquired loans (under ASC 310-20) Commercial secured by real estate: Retail 150 - - 150 - - Floor plan 2,482 1,899 356 - - 227 2,632 1,899 356 150 - 227 Other commercial and industrial: Retail 3,120 3,096 - 24 - - Floor plan 3 - - - - 3 3,123 3,096 - 24 - 3 Total 5,755 4,995 356 174 - 230 Total $ 1,272,932 $ 1,174,708 $ 54,929 $ 6,696 $ - $ 36,599 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 September 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: September 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 $ 52,446 $ 46,884 $ - $ 1,607 $ 304 $ 1,296 $ 1,646 $ 709 Years 2003 and 2004 92,909 81,218 - 4,003 1,492 1,806 2,442 1,948 Year 2005 50,682 44,294 123 1,810 790 910 1,797 958 Year 2006 71,939 58,195 231 3,380 955 1,283 4,173 3,722 Years 2007, 2008 and 2009 80,847 64,798 171 1,779 863 2,212 7,068 3,956 Years 2010, 2011, 2012 2013 143,436 131,227 292 2,398 717 809 3,954 4,039 Years 2014, 2015 and 2016 104,416 102,788 - 430 244 447 460 47 596,675 529,404 817 15,407 5,365 8,763 21,540 15,379 Non-traditional 24,339 19,036 - 301 - 1,904 3,098 - Loss mitigation program 104,416 17,991 2,086 1,598 1,150 1,233 3,394 76,964 725,430 566,431 2,903 17,306 6,515 11,900 28,032 92,343 Home equity secured personal loans 339 339 - - - - - - GNMA's buy-back option program 9,598 - - - 1,872 4,065 3,661 - 735,367 566,770 2,903 17,306 8,387 15,965 31,693 92,343 Consumer Credit cards 25,464 24,204 486 264 251 259 - - Overdrafts 196 178 12 3 2 1 - - Unsecured personal lines of credit 2,292 2,199 38 18 21 13 3 - Unsecured personal loans 234,995 230,259 2,154 1,657 889 36 - - Cash collateral personal loans 15,719 15,525 162 2 30 - - - 278,666 272,365 2,852 1,944 1,193 309 3 - Auto and Leasing 730,589 656,880 46,564 18,738 6,015 2,392 - - 1,744,622 1,496,015 52,319 37,988 15,595 18,666 31,696 92,343 Acquired loans (accounted for under ASC 310-20) Consumer Credit cards 31,363 29,452 827 443 238 403 - - Personal loans 2,852 2,679 95 15 22 41 - - 34,215 32,131 922 458 260 444 - - Auto 64,393 57,725 4,321 1,608 588 151 - - 98,608 89,856 5,243 2,066 848 595 - - Total $ 1,843,230 $ 1,585,871 $ 57,562 $ 40,054 $ 16,443 $ 19,261 $ 31,696 $ 92,343 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 de-recognition policy for purchased credit impaired loans implemented in the second quarter of 2016. | |
[2] | (b) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was de-recognized due to the revision in the de-recognition policy for these loans implemented during the second quarter of 2016. | |
[3] | (c) During the third quarter of 2016, the Company entered into an agreement to sell its outstanding participation in the PREPA line of credit. At September 30, 2016 this line of credit was reported as other loans held for sale, at fair value of $123.1 million. |
Allowance for Loan and Lease 33
Allowance for Loan and Lease Losses (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Loans Receivable [Abstract] | |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | September 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 $ 18,527 $ 18,352 Commercial 12,307 64,791 Consumer 12,289 11,197 Auto and leasing 19,002 18,261 Unallocated 43 25 Total allowance for originated and other loans and lease losses 62,168 112,626 Acquired loans: Acquired BBVAPR loans: Accounted for under ASC 310-20 (Loans with revolving feature and/or acquired at a premium) Commercial 18 26 Consumer 2,946 3,429 Auto 1,249 2,087 4,213 5,542 Accounted for under ASC 310-30 (Loans acquired with deteriorated credit quality, including those by analogy) (a) Mortgage 2,664 1,762 Commercial 21,998 21,161 Auto 5,157 2,862 29,819 25,785 Total allowance for acquired BBVAPR loans and lease losses 34,032 31,327 Acquired Eurobank loans: (a) Loans secured by 1-4 family residential properties 12,268 22,570 Commercial and other construction 10,544 67,365 Consumer - 243 Total allowance for acquired Eurobank loan and lease losses (a) 22,812 90,178 Total allowance for loan and lease losses (a) $ 119,012 $ 234,131 (a) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was de-recognized due to the revision in the de-recognition policy for these loans during the second quarter of 2016 . Quarter Ended September 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 $ 18,537 $ 63,144 $ 11,771 $ 19,259 $ 101 $ 112,812 Charge-offs (1,656) (56,700) (3,173) (7,804) - (69,333) Recoveries 21 93 120 3,747 - 3,981 Provision (recapture) for originated and other loans and lease losses 1,625 5,770 3,571 3,800 (58) 14,708 Balance at end of period $ 18,527 $ 12,307 $ 12,289 $ 19,002 $ 43 $ 62,168 Nine-Month Period Ended September 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 (4,692) (58,544) (8,310) (24,267) - (95,813) Recoveries 204 407 355 9,969 - 10,935 Provision for originated and other loans and lease losses 4,663 5,653 9,047 15,039 18 34,420 Balance at end of period $ 18,527 $ 12,307 $ 12,289 $ 19,002 $ 43 $ 62,168 September 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 $ 8,725 $ 5,572 $ - $ - $ - $ 14,297 Collectively evaluated for impairment 9,802 6,735 12,289 19,002 43 47,871 Total ending allowance balance $ 18,527 $ 12,307 $ 12,289 $ 19,002 $ 43 $ 62,168 Loans: Individually evaluated for impairment $ 92,343 $ 36,369 $ - $ - $ - $ 128,712 Collectively evaluated for impairment 643,024 1,230,808 278,666 730,589 - 2,883,087 Total ending loan balance $ 735,367 $ 1,267,177 $ 278,666 $ 730,589 $ - $ 3,011,799 Quarter Ended September 30, 2015 Mortgage Commercial Consumer Auto and Leasing Unallocated Total (In thousands) Allowance for loan and lease losses for originated and other loans: Balance at beginning of period $ 18,076 $ 34,779 $ 10,464 $ 15,064 $ 606 $ 78,989 Charge-offs (1,058) (828) (2,471) (8,510) - (12,867) Recoveries 270 63 186 3,251 - 3,770 Provision (recapture) for originated and other loans and lease losses 4 1,510 2,637 6,869 (561) 10,459 Balance at end of period $ 17,292 $ 35,524 $ 10,816 $ 16,674 $ 45 $ 80,351 Nine-Month Period Ended September 30, 2015 Mortgage Commercial Consumer Auto and Leasing Unallocated Total (In thousands) Allowance for loan and lease losses for originated and other loans: Balance at beginning of year $ 19,679 $ 8,432 $ 9,072 $ 14,255 $ 1 $ 51,439 Charge-offs (3,829) (2,317) (6,456) (24,307) - (36,909) Recoveries 338 372 729 10,060 - 11,499 Provision for originated and other loans and lease losses 1,104 29,037 7,471 16,666 44 54,322 Balance at end of year $ 17,292 $ 35,524 $ 10,816 $ 16,674 $ 45 $ 80,351 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 Quarter Ended September 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 $ 21 $ 3,002 $ 1,464 $ - $ 4,487 Charge-offs (2) (889) (475) - (1,366) Recoveries 16 67 461 - 544 Provision (recapture) for acquired BBVAPR loan and lease losses accounted for under ASC 310-20 (17) 766 (201) - 548 Balance at end of period $ 18 $ 2,946 $ 1,249 $ - $ 4,213 Nine-Month Period Ended September 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 (21) (2,714) (1,783) - (4,518) Recoveries 56 236 1,505 - 1,797 Provision (recapture) for acquired BBVAPR loan and lease losses accounted for under ASC 310-20 (43) 1,995 (560) - 1,392 Balance at end of year $ 18 $ 2,946 $ 1,249 $ - $ 4,213 September 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 $ 18 $ 2,946 $ 1,249 $ - $ 4,213 Total ending allowance balance $ 18 $ 2,946 $ 1,249 $ - $ 4,213 Loans: Collectively evaluated for impairment 5,755 34,215 64,393 - 104,363 Total ending loan balance $ 5,755 $ 34,215 $ 64,393 $ - $ 104,363 Quarter Ended September 30, 2015 Commercial Consumer Auto Unallocated Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Balance at beginning of period $ 54 $ 2,616 $ 2,859 $ - $ 5,529 Charge-offs (22) (1,103) (1,150) - (2,275) Recoveries 7 59 502 - 568 Provision (recapture) for acquired loan and lease losses accounted for under ASC 310-20 (17) 1,485 183 - 1,651 Balance at end of period $ 22 $ 3,057 $ 2,394 $ - $ 5,473 Nine-Month Period Ended September 30, 2015 Commercial Consumer Auto Unallocated Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Balance at beginning of year $ 65 $ 1,211 $ 3,321 $ - $ 4,597 Charge-offs (38) (3,789) (3,454) - (7,281) Recoveries 24 622 1,574 - 2,220 Provision (recapture) for acquired loan and lease losses accounted for under ASC 310-20 (29) 5,013 953 - 5,937 Balance at end of period $ 22 $ 3,057 $ 2,394 $ - $ 5,473 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 Quarter Ended September 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 $ 1,585 $ 15,863 $ - $ 5,353 $ 22,801 Provision for BBVAPR loans and lease losses accounted for under ASC 310-30 1,079 6,324 - - 7,403 Allowance de-recognition (a) - (189) - (196) (385) Balance at end of period $ 2,664 $ 21,998 $ - $ 5,157 $ 29,819 (a) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was de-recognized due to the revision in the de-recognition policy for these loans during the second quarter of 2016. Nine-Month Period Ended September 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 Provision for BBVAPR loans and lease losses accounted for under ASC 310-30 1,000 9,552 - 2,693 13,245 Loan pools fully charged-off (14) (66) - (202) (282) Allowance de-recognition (a) - (8,733) - (196) (8,929) Balance at end of period $ 2,664 $ 21,998 $ - $ 5,157 $ 29,819 (a) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was de-recognized due to the revision in the de-recognition policy for these loans during the second quarter of 2016. Quarter Ended September 30, 2015 Mortgage Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-30: Balance at beginning of period $ 473 $ 14,940 $ 84 $ 2,862 $ 18,359 Provision for acquired BBVAPR loans and lease losses accounted for under ASC 310-30 - 5,979 - - 5,979 Loan pools fully charged-off - (4,352) - - (4,352) Balance at end of period $ 473 $ 16,567 $ 84 $ 2,862 $ 19,986 Nine-Month Period Ended September 30, 2015 Mortgage Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-30: Balance at beginning of period $ - $ 13,476 $ 5 $ - $ 13,481 Provision for acquired BBVAPR loans and lease losses accounted for under ASC 310-30 473 7,443 79 2,862 10,857 Loan pools fully charged-off - (4,352) - - (4,352) Balance at end of period $ 473 $ 16,567 $ 84 $ 2,862 $ 19,986 Quarter Ended September 30, 2016 Loans Secured by 1-4 Family Residential Properties Commercial and Construction Consumer Total (In thousands) Allowance for loan and lease losses for acquired Eurobank loans: Balance at beginning of period $ 11,016 $ 11,096 $ 4 $ 22,116 Provision (recapture) for acquired Eurobank loans and lease losses, net 893 (74) - 819 FDIC shared-loss portion of provision for covered loan and lease losses, net 818 - - 818 Allowance de-recognition (a) (459) (478) (4) (941) Balance at end of period $ 12,268 $ 10,544 $ - $ 22,812 (a) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was de-recognized due to the revision in the de-recognition policy for these loans during the second quarter of 2016. Nine-Month Period Ended September 30, 2016 Loans Secured by 1-4 Family Residential Properties Commercial and Construction Consumer 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 1,077 1,585 (7) 2,655 FDIC shared-loss portion of provision for covered loan and lease losses, net 3,213 - - 3,213 Loan pools fully charged-off - (134) - (134) Allowance de-recognition (a) (14,592) (58,272) (236) (73,100) Balance at end of year $ 12,268 $ 10,544 $ - $ 22,812 (a) A portion of the allowance for loan and lease losses associated with purchased credit impaired loans was de-recognized due to the revision in the de-recognition policy for these loans during the second quarter of 2016. Quarter Ended September 30, 2015 Mortgage Commercial and Construction Consumer Total (In thousands) Allowance for loan and lease losses for acquired Eurobank loans: Balance at beginning of period $ 17,593 $ 53,470 $ 389 $ 71,452 Provision for Eurobank loans and lease losses, net 15,813 17,398 279 33,490 Loans pools fully charged-off (721) (13,588) (301) (14,610) Balance at end of period $ 32,685 $ 57,280 $ 367 $ 90,332 Nine-Month Period Ended September 30, 2015 Mortgage Commercial and Construction Consumer 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 17,779 20,136 279 38,194 FDIC shared-loss portion of provision for covered loan and lease losses, net 105 2,398 - 2,503 Loans pools fully charged-off (721) (13,588) (301) (14,610) Balance at end of year $ 32,685 $ 57,280 $ 367 $ 90,332 |
FDIC Indemnification and True-u
FDIC Indemnification and True-up Payment Obligation (Tables) | 9 Months Ended |
Sep. 30, 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 payment obligation for the quarters and nine -month periods ended September 30 , 2016 and 2015 : Quarter Ended September 30, Nine-Month Period Ended September 30, 2016 2015 2016 2015 (In thousands) FDIC indemnification asset: Balance at beginning of period $ 18,426 $ 22,704 $ 22,599 $ 97,378 Shared-loss agreements reimbursements from the FDIC (87) - (824) (17,171) Shared-loss agreements reimbursements expected from the FDIC - - - (20,917) Increase in expected credit losses to be covered under shared-loss agreements, net 818 - 3,213 2,503 FDIC indemnification asset expense (1,910) (1,215) (6,179) (35,948) Net expenses (reimbursed) incurred under shared-loss agreement (577) 1,406 (2,139) (2,950) Balance at end of period $ 16,670 $ 22,895 $ 16,670 $ 22,895 True-up payment obligation: Balance at beginning of period $ 25,771 $ 23,577 $ 24,658 $ 21,981 Change in true-up payment obligation 508 864 1,621 2,460 Balance at end of period $ 26,279 $ 24,441 $ 26,279 $ 24,441 |
Schedule Of Business Acquisitions By Acquisition Contingent Consideration Text Block | September 30, December 31, 2016 2015 (In thousands) Carrying amount (fair value) $ 26,279 $ 24,658 Undiscounted amount $ 33,661 $ 34,956 |
FDIC Indemnification Asset Expense [Table Text block] | Quarter Ended September 30, Nine-Month Period Ended September 30, 2016 2015 2016 2015 (In thousands) (In thousands) FDIC indemnification asset expense $ 1,910 $ 1,215 $ 6,179 $ 35,948 Change in true-up payment obligation 508 864 1,621 2,460 Reimbursement to FDIC for recoveries 878 - 2,945 - Total FDIC shared-loss expense, net $ 3,296 $ 2,079 $ 10,745 $ 38,408 |
Derivative Activities (Tables)
Derivative Activities (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Derivative Instrument Detail [Abstract] | |
Schedule Of Derivative Instruments Text Block | The following table presents the Company’s derivative assets and liabilities at September 30 , 2016 and December 31 , 2015 : September 30, December 31, 2016 2015 (In thousands) Derivative assets: Interest rate swaps not designated as hedges $ 1,481 $ 1,819 Interest rate caps 22 32 Options tied to S&P 500 Index - 1,170 Other - 4 $ 1,503 $ 3,025 Derivative liabilities: Interest rate swaps designated as cash flow hedges $ 2,803 $ 4,307 Interest rate swaps not designated as hedges 1,481 1,819 Interest rate caps 22 32 Other - 4 $ 4,306 $ 6,162 The following table shows a summary of these swaps and their terms at September 30 , 2016 : Notional Fixed Variable Trade Settlement Maturity Type Amount Rate Rate Index Date Date Date (In thousands) Interest Rate Swaps $ 36,938 2.4210% 1-Month LIBOR 07/03/13 07/03/13 08/01/23 Notional Fixed Variable Settlement Maturity Type Amount Rate Rate Index Date Date (In thousands) Interest Rate Swaps - Derivatives Offered to Clients $ 12,500 5.5050% 1-Month LIBOR 04/11/09 04/11/19 Interest Rate Swaps - Mirror Image Derivatives $ 12,500 5.5050% 1-Month LIBOR 04/11/09 04/11/19 |
Other Assets (Tables)
Other Assets (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Other asset | |
Schedule of Accrued interest receivable [Table Text Block] | September 30, December 31, 2016 2015 (In thousands) Loans, excluding acquired loans $ 14,644 $ 16,020 Investments 3,322 4,617 $ 17,966 $ 20,637 |
Schedule of Other Assets [Table Text Block] | Other assets at September 30 , 2016 and December 31 , 2015 consist of the following September 30, December 31, 2016 2015 (In thousands) Prepaid expenses 19,514 11,762 Other repossessed assets 3,449 6,226 Core deposit and customer relationship intangibles 6,579 7,838 Mortgage tax credits 6,277 6,277 Investment in Statutory Trust 1,083 1,083 Accounts receivable and other assets 49,733 42,786 $ 86,635 $ 75,972 |
Deposits and Related Interest (
Deposits and Related Interest (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Deposits, by Component, Alternative [Abstract] | |
Deposits By Component [Table Text Block] | Total deposits, including related accrued interest payable, as of September 30 , 2016 and December 31 , 2015 consists of the following: September 30, December 31, 2016 2015 (In thousands) Non-interest bearing demand deposits $ 818,153 $ 762,009 Interest-bearing savings and demand deposits 2,312,885 2,208,180 Individual retirement accounts 267,955 268,799 Retail certificates of deposit 549,945 441,998 Institutional certificates of deposit 224,672 253,791 Total core deposits 4,173,610 3,934,777 Brokered deposits 581,161 782,974 Total deposits $ 4,754,771 $ 4,717,751 |
Interest Expense Domestic Deposit Liabilities [Table Text Block] | Interest expense for the quarters and nine-month periods ended September 30 , 2016 and 2015 was as follows: Quarter Ended September 30, Nine-Month Period Ended September 30, 2016 2015 2016 2015 (In thousands) (In thousands) Demand and savings deposits $ 3,035 $ 2,987 $ 9,061 $ 9,469 Certificates of deposit 4,296 3,664 12,761 10,890 $ 7,331 $ 6,651 $ 21,822 $ 20,359 |
Maturities Of Time Deposits [Table Text Block] | E xcluding accrued interest of $ 1.5 million and unamortized deposit discount in the amount of $ 72 thousand at September 30 , 2016 , and accrued interest of $ 1. 5 million , unamortized deposit discount of $ 311 thousand and equity indexed options of $ 1.1 million at December 31 , 2015 , the scheduled maturities of certificates of deposit are as follows: September 30, 2016 December 31, 2015 (In thousands) Within one year: Three (3) months or less $ 197,615 $ 474,051 Over 3 months through 1 year 592,382 501,551 789,997 975,602 Over 1 through 2 years 514,665 454,906 Over 2 through 3 years 165,838 176,406 Over 3 through 4 years 42,569 32,396 Over 4 through 5 years 43,816 33,715 $ 1,556,885 $ 1,673,025 |
Borrowings (Tables)
Borrowings (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Debt Instruments [Abstract] | |
Schedule Of Repurchase Agreement Counterparty [Table Text Block] | At September 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: September 30, December 31, 2016 2015 Fair Value of Fair Value of Borrowing Underlying Borrowing Underlying Balance Collateral Balance Collateral (In thousands) Federal Home Loan Bank of NY 42,135 44,883 - - JP Morgan Chase Bank NA $ 212,500 $ 231,967 $ 262,500 $ 283,483 Credit Suisse Securities (USA) LLC 402,000 429,111 670,000 737,887 Total $ 656,635 $ 705,961 $ 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 September 30 , 2016 : Weighted- Borrowing Average Maturity Year of Maturity Balance Coupon Settlement Date Date (In thousands) 2016 $ 21,635 0.570% 09/20/16 10/07/16 20,500 0.510% 09/30/16 10/07/16 170,000 1.500% 12/06/12 12/08/16 2017 232,000 4.780% 3/2/2007 3/2/2017 2018 212,500 1.420% 12/10/2012 04/29/18 $ 656,635 2.57% |
Schedule of Repurchase Agreements [Table] | September 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) Less than 90 days $ 212,135 1.31% $ 197,936 $ 437 $ 23,817 $ 222,190 Over 90 days $ 444,500 3.17% $ 481,455 $ 1,115 $ 1,201 $ 483,771 Total $ 656,635 2.57% $ 679,391 $ 1,552 $ 25,018 $ 705,961 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 $ 293 thousand , at September 30 , 2016 : Weighted- Borrowing Average Maturity Year of Maturity Balance Coupon Settlement Date Date (In thousands) 2016 $ 36,938 0.57% 9/1/2016 10/3/2016 2017 4,091 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 9,623 2.59% 7/19/2013 7/20/2020 $ 105,652 1.61% |
Offset of Assets_Liabilities (T
Offset of Assets/Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Offsetting [Abstract] | |
Offsetting Assets [Table Text Block] | September 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 $ 1,503 $ - $ 1,503 $ 2,005 $ - $ (502) 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] | September 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 $ 4,306 $ - $ 4,306 $ - $ 1,980 $ 2,326 Securities sold under agreements to repurchase 656,635 - 656,635 705,961 - (49,326) Total $ 660,941 $ - $ 660,941 $ 705,961 $ 1,980 $ (47,000) 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) | 9 Months Ended |
Sep. 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 nine -month periods ended September 30 , 2016 and 2015 was as follows: Quarter Ended September 30, Nine-Month Period Ended September 30, 2016 2015 2016 2015 (In thousands) (In thousands) Balance at the beginning of year $ 30,696 $ 33,318 $ 31,475 $ 27,011 New loans and disbursements 225 5,866 727 13,489 Repayments (2,376) (7,450) (3,657) (8,766) Balance at the end of period $ 28,545 $ 31,734 $ 28,545 $ 31,734 |
Regulatory Capital Requiremen41
Regulatory Capital Requirements (Tables) | 9 Months Ended |
Sep. 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 September 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 September 30, 2016 Total capital to risk-weighted assets $ 860,581 18.71% $ 367,907 8.00% $ 459,884 10.00% Tier 1 capital to risk-weighted assets $ 801,882 17.44% $ 275,930 6.00% $ 367,907 8.00% Common equity tier 1 capital to risk-weighted assets $ 612,792 13.32% $ 206,948 4.50% $ 298,924 6.50% Tier 1 capital to average total assets $ 801,882 12.35% $ 259,711 4.00% $ 324,639 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 September 30, 2016 Total capital to risk-weighted assets $ 841,599 18.33% $ 367,256 8.00% $ 459,070 10.00% Tier 1 capital to risk-weighted assets $ 783,151 17.06% $ 275,442 6.00% $ 367,256 8.00% Common equity tier 1 capital to risk-weighted assets $ 783,151 17.06% $ 206,582 4.50% $ 298,396 6.50% Tier 1 capital to average total assets $ 783,151 12.11% $ 258,600 4.00% $ 323,250 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) | 9 Months Ended |
Sep. 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 nine -month periods ended September 30 , 2016 and 2015 is set forth below Nine-Month Period Ended September 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) (641) Common shares repurchased as part of the stock repurchase program - - 803,985 8,950 End of period 8,712,150 $ 104,874 8,757,960 $ 105,379 |
Accumulated Other Comprehensi43
Accumulated Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Disclosure Text Block Abstract | |
Schedule of Accumulated Other Comprehensive Income (Loss) | Accumulated other comprehensive income, net of income tax, as of September 30 , 2016 and December 31 , 2015 consisted of: September 30, December 31, 2016 2015 (In thousands) Unrealized gain on securities available-for-sale which are not other-than-temporarily impaired $ 18,689 $ 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 (1,136) (1,924) Net unrealized gain on securities available-for-sale which are not other-than-temporarily impaired, net of tax 17,553 16,924 Unrealized loss on cash flow hedges (2,803) (4,307) Income tax effect of unrealized loss on cash flow hedges 1,094 1,380 Net unrealized loss on cash flow hedges (1,709) (2,927) Accumulated other comprehensive income, net of taxes $ 15,844 $ 13,997 The following table presents changes in accumulated other comprehensive income by component, net of taxes, for the quarters and nine -month periods ended September 30 , 2016 and 2015 : Quarter Ended September 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 $ 18,085 $ (2,280) $ 15,805 $ 18,832 $ (4,531) $ 14,301 Other comprehensive income (loss) before reclassifications (469) (144) (613) 3,175 (1,346) 1,829 Other-than-temporary impairment amount reclassified from accumulated other comprehensive income - - - 584 - 584 Amounts reclassified out of accumulated other comprehensive (loss) income (63) 715 652 (105) 1,547 1,442 Other comprehensive income (loss) (532) 571 39 3,654 201 3,855 Ending balance $ 17,553 $ (1,709) $ 15,844 $ 22,486 $ (4,330) $ 18,156 Nine-Month Period Ended September 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 $ 25,765 $ (6,054) $ 19,711 Other comprehensive (loss) before reclassifications (1,732) (2,550) (4,282) (4,037) (2,894) (6,931) Other-than-temporary impairment amount reclassified from accumulated other comprehensive income 2,557 - 2,557 584 - 584 Amounts reclassified out of accumulated other comprehensive income (loss) (196) 3,768 3,572 174 4,618 4,792 Other comprehensive income (loss) 629 1,218 1,847 (3,279) 1,724 (1,555) Ending balance $ 17,553 $ (1,709) $ 15,844 $ 22,486 $ (4,330) $ 18,156 |
Reclassification out of Accumulated Other Comprehensive Income [Table text block] | The following table presents reclassifications out of accumulated other comprehensive income for the quarters and nine -month periods ended September 30 , 2016 and 2015 : Amount reclassified out of accumulated other comprehensive income Affected Line Item in Quarter Ended September 30, Consolidated Statement 2016 2015 of Operations (In thousands) Cash flow hedges: Interest-rate contracts $ 664 $ 1,622 Net interest expense Tax effect from increase in capital gains tax rate 51 (75) Income tax expense Available-for-sale securities: Residual tax effect from OIB's change in applicable tax rate 9 11 Income tax expense Other-than-temporary impairment losses on available for sale securities realized during the period - (246) Net impairment losses recognized in earnings Tax effect from increase in capital gains tax rate (72) 130 Income tax expense $ 652 $ 1,442 Amount reclassified out of accumulated other comprehensive income Affected Line Item in Nine-Month Period Ended September 30, Consolidated Statement 2016 2015 of Operations (In thousands) Cash flow hedges: Interest-rate contracts $ 3,468 $ 4,842 Net interest expense Tax effect from increase in capital gains tax rate 300 (224) Income tax expense Available-for-sale securities: Residual tax effect from OIB's change in applicable tax rate 24 33 Income tax expense Other-than-temporary impairment losses on available for sale securities - (246) Net impairment losses recognized in earnings Tax effect from increase in capital gains tax rate (220) 387 Income tax expense $ 3,572 $ 4,792 |
Earning Per Common Share (Table
Earning Per Common Share (Tables) | 9 Months Ended |
Sep. 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 nine -month periods ended September 30 , 2016 and 2015 is as follows: Quarter Ended September 30, Nine-Month Period Ended September 30, 2016 2015 2016 2015 (In thousands, except per share data) (In thousands, except per share data) Net income (loss) $ 15,120 $ 4,569 $ 43,630 $ (1,528) Less: Dividends on preferred stock Non-convertible preferred stock (Series A, B, and D) (1,627) (1,627) (4,883) (4,884) Convertible preferred stock (Series C) (1,838) (1,838) (5,513) (5,512) Income (loss) available to common shareholders $ 11,655 $ 1,104 $ 33,234 $ (11,924) Effect of assumed conversion of the convertible preferred stock 1,838 1,838 5,513 5,512 Income (loss) available to common shareholders assuming conversion $ 13,493 $ 2,942 $ 38,747 $ (6,412) Weighted average common shares and share equivalents: Average common shares outstanding 43,926 43,929 43,913 44,353 Effect of dilutive securities: Average potential common shares-options 47 46 40 85 Average potential common shares-assuming conversion of convertible preferred stock 7,138 7,171 7,138 7,171 Total weighted average common shares outstanding and equivalents 51,111 51,146 51,091 51,609 Earnings (loss) per common share - basic $ 0.27 $ 0.03 $ 0.76 $ (0.27) Earnings (loss) per common share - diluted $ 0.26 $ 0.03 $ 0.76 $ (0.27) |
Guarantees (Tables)
Guarantees (Tables) | 9 Months Ended |
Sep. 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 nine-month periods ended September 30 , 2016 and 2015 . Quarter Ended September 30, Nine-Month Period Ended September 30, 2016 2015 2016 2015 (In thousands) (In thousands) Balance at beginning of period $ 162 $ 289 $ 439 $ 927 Net (charge-offs/terminations) recoveries 29 140 (248) (498) Balance at end of period $ 191 $ 429 $ 191 $ 429 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Commitments and Contingencies [Abstract] | |
Schedule Of Line Of Credit Facilities Text Block | Credit-related financial instruments at September 30 , 2016 and December 31 , 2015 were as follows: September 30, December 31, 2016 2015 (In thousands) Commitments to extend credit $ 516,134 $ 456,720 Commercial letters of credit 1,386 1,508 The summary of instruments that are considered financial guarantees in accordance with the authoritative guidance related to guarantor’s acc ounting and disclosure requirements for guarantees, including indirect guarantees of indebtedness of others, at September 30 , 2016 and December 31 , 2015 , is as follows: September 30, December 31, 2016 2015 (In thousands) Standby letters of credit and financial guarantees $ 4,809 $ 14,656 Loans sold with recourse 20,394 22,374 |
Contractual Obligation Fiscal Year Maturity Schedule [Table Text Block] | Minimum Rent Year Ending December 31, (In thousands) 2016 $ 1,864 2017 7,051 2018 6,512 2019 6,471 2020 5,744 Thereafter 12,563 $ 40,205 |
Fair Value (Tables)
Fair Value (Tables) | 9 Months Ended |
Sep. 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: September 30, 2016 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ - $ 642,683 $ - $ 642,683 Trading securities - 380 - 380 Money market investments 5,460 - - 5,460 Derivative assets - 1,503 - 1,503 Servicing assets - - 8,393 8,393 Derivative liabilities - (4,306) - (4,306) $ 5,460 $ 640,260 $ 8,393 $ 654,113 Non-recurring fair value measurements: Impaired commercial loans $ - $ - $ 36,601 $ 36,601 Foreclosed real estate - - 45,740 45,740 Other repossessed assets - - 3,449 3,449 $ - $ - $ 85,790 $ 85,790 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 - 1,853 1,172 3,025 Servicing assets - - 7,455 7,455 Derivative liabilities - (6,162) (1,095) (7,257) $ 4,699 $ 970,588 $ 7,532 $ 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 nine -month periods ended September 30 , 2016 and 2015 : Quarter Ended September 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 $ 187 $ 7,932 $ (181) $ 7,938 Gains (losses) included in earnings (187) - 181 (6) New instruments acquired - 466 - 466 Principal repayments - (123) (1) (124) Amortization - - 1 1 Changes in fair value of servicing assets - 118 - 118 Balance at end of period $ - $ 8,393 $ - $ 8,393 Nine-Month Period Ended September 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 $ 1,170 $ 7,455 $ (1,095) $ 7,530 Gains (losses) included in earnings (1,170) - 1,067 (103) New instruments acquired - 1,740 - 1,740 Principal repayments - (347) - (347) Amortization - - 28 28 Changes in fair value of servicing assets - (455) - (455) Balance at end of period $ - $ 8,393 $ - $ 8,393 Quarter Ended September 30, 2015 Derivative Derivative asset liability (S&P (S&P Purchased Servicing Embedded Level 3 Instruments Only Options) assets Options) Total Balance at beginning of period $ 2,138 $ 5,791 $ (2,044) $ 5,885 (Losses) gains included in earnings (1,023) - 972 (51) New instruments acquired - 748 - 748 Changes due to payments on loans - (242) - (242) Amortization - - 31 31 Changes in fair value of servicing assets - 166 - 166 Balance at end of period $ 1,115 $ 6,463 $ (1,041) $ 6,537 Nine-Month Period Ended September 30, 2015 Derivative Derivative asset liability (S&P (S&P Purchased Servicing Embedded Level 3 Instruments Only Options) assets Options) Total Balance at beginning of period $ 5,555 $ 13,992 $ (5,477) $ 14,070 (Losses) gains included in earnings (4,440) - 4,271 (169) Sale of mortgage servicing rights held-for-sale - (6,985) - (6,985) Changes due to payments on loans - (974) - (974) New instruments acquired - 2,808 - 2,808 Amortization - - 165 165 Changes in fair value related to price of MSRs held for sale - (2,716) - (2,716) Changes in fair value of servicing assets - 338 - 338 Balance at end of period $ 1,115 $ 6,463 $ (1,041) $ 6,537 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Table Text Block] | The table below presents quantitative information for all assets and liabilities measured at fair value on a recurring and non-recurring basis using significant unobservable inputs (Level 3) at September 30 , 2016 : September 30, 2016 Fair Value Valuation Technique Unobservable Input Range (In thousands) Servicing assets $ 8,393 Cash flow valuation Constant prepayment rate 5.18% - 10.49% Discount rate 10.00% - 12.00% Collateral dependant impaired loans $ 23,759 Fair value of property or collateral Appraised value less disposition costs 29.20% - 46.20% Non-collateral dependant impaired loans $ 12,840 Cash flow valuation Discount rate 4.25%-10.50% Foreclosed real estate $ 45,740 Fair value of property or collateral Appraised value less disposition costs 29.20% - 46.20% Other repossessed assets $ 3,449 Fair value of property or collateral Appraised value less disposition costs 29.20% - 46.20% |
Fair Value By Balance Sheet Grouping [Text Block] | The estimated fair value and carrying value of the Company ’s financial instruments at September 30 , 2016 and December 31 , 2015 is as follows: September 30, December 31, 2016 2015 Fair Carrying Fair Carrying Value Value Value Value (In thousands) Level 1 Financial Assets: Cash and cash equivalents $ 509,265 $ 509,265 $ 536,709 $ 536,709 Restricted cash 3,030 3,030 3,349 3,349 Level 2 Financial Assets: Trading securities 380 380 288 288 Investment securities available-for-sale 642,683 642,683 974,609 974,609 Investment securities held-to-maturity 650,023 641,890 614,679 620,189 Federal Home Loan Bank (FHLB) stock 12,712 12,712 20,783 20,783 Other investments 3 3 3 3 Derivative assets 1,503 1,503 1,855 1,855 Financial Liabilities: Derivative liabilities 4,306 4,306 6,162 6,162 Level 3 Financial Assets: Total loans (including loans held-for-sale) 4,041,684 4,298,965 4,101,219 4,434,213 Derivative assets - - 1,170 1,170 FDIC indemnification asset 10,585 16,670 17,786 22,599 Accrued interest receivable 17,966 17,966 20,637 20,637 Servicing assets 8,393 8,393 7,455 7,455 Accounts receivable and other assets 49,733 49,733 42,786 42,786 Financial Liabilities: Deposits 4,738,963 4,754,771 4,705,878 4,716,656 Securities sold under agreements to repurchase 662,027 658,232 955,859 934,691 Advances from FHLB 106,811 105,944 335,812 332,476 Other borrowings 40 40 2,593 1,734 Subordinated capital notes 32,831 36,083 94,940 102,633 Accrued expenses and other liabilities 89,759 89,759 92,043 92,043 Derivative liabilities embedded in deposits - - 1,095 1,095 |
Business Segments (Tables)
Business Segments (Tables) | 9 Months Ended |
Sep. 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 nine -month periods ended September 30 , 2016 and 2015 : Quarter Ended September 30, 2016 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 82,564 $ 15 $ 8,005 $ 90,584 $ - $ 90,584 Interest expense (6,733) - (6,924) (13,657) - (13,657) Net interest income 75,831 15 1,081 76,927 - 76,927 Provision for loan and lease losses (23,469) - - (23,469) - (23,469) Non-interest income 8,918 6,379 4,918 20,215 - 20,215 Non-interest expenses (50,095) (3,757) (1,074) (54,926) - (54,926) Intersegment revenue 375 - 86 461 (461) - Intersegment expenses (86) (272) (103) (461) 461 - Income before income taxes $ 11,474 $ 2,365 $ 4,908 $ 18,747 $ - $ 18,747 Total assets $ 5,715,958 $ 19,433 $ 1,801,752 $ 7,537,143 $ (945,031) $ 6,592,112 Quarter Ended September 30, 2015 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 97,264 $ 25 $ 9,958 $ 107,247 $ - $ 107,247 Interest expense (7,036) - (10,388) (17,424) - (17,424) Net interest income 90,228 25 (430) 89,823 - 89,823 Provision for loan and lease losses (51,579) - - (51,579) - (51,579) Non-interest (loss) income 30,098 6,513 (634) 35,977 - 35,977 Non-interest expenses (63,106) (5,063) (921) (69,090) - (69,090) Intersegment revenue 351 - 69 420 (420) - Intersegment expenses (69) (252) (99) (420) 420 - Income (loss) before income taxes $ 5,923 $ 1,223 $ (2,015) $ 5,131 $ - $ 5,131 Total assets $ 5,990,125 $ 20,594 $ 2,117,569 $ 8,128,288 $ (924,466) $ 7,203,822 Nine-Month Period Ended September 30, 2016 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 243,389 $ 49 $ 26,360 $ 269,798 $ - $ 269,798 Interest expense (20,840) - (23,744) (44,584) - (44,584) Net interest income 222,549 49 2,616 225,214 - 225,214 Provision for loan and lease losses (51,703) - - (51,703) - (51,703) Non-interest income 24,927 19,309 4,637 48,873 - 48,873 Non-interest expenses (147,881) (11,610) (4,117) (163,608) - (163,608) Intersegment revenue 1,162 - 235 1,397 (1,397) - Intersegment expenses (235) (849) (313) (1,397) 1,397 - Income before income taxes $ 48,819 $ 6,899 $ 3,058 $ 58,776 $ - $ 58,776 Nine-Month Period Ended September 30, 2015 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 285,251 $ 71 $ 28,339 $ 313,661 $ - $ 313,661 Interest expense (21,600) - (30,311) (51,911) - (51,911) Net interest income 263,651 71 (1,972) 261,750 - 261,750 Provision for loan and lease losses (109,311) - - (109,311) - (109,311) Non-interest income 16,136 20,416 1,650 38,202 - 38,202 Non-interest expenses (169,264) (16,586) (4,009) (189,859) - (189,859) Intersegment revenue 1,058 - 228 1,286 (1,286) - Intersegment expenses (228) (770) (288) (1,286) 1,286 - Income (loss) before income taxes $ 2,042 $ 3,131 $ (4,391) $ 782 $ - $ 782 |
Restricted Cash (Narrative) (De
Restricted Cash (Narrative) (Details) - USD ($) | Sep. 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 | 157,500,000 | 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 | Sep. 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 | 9 Months Ended | ||||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 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 | $ 76,200 | $ 76,200 | ||||
Investments Guaranteed by Puerto Rico Government and its Political Subdivisions in Unrealized Loss On Position | $ 4,700 | $ 4,700 | ||||
Investments Guaranteed By Us Treasury And Sponsored Agencies in Unrealized Loss Position Percentage To Total Investment in Unrealized Loss Position | 94.00% | 94.00% | ||||
Investments Guaranteed By Puerto Rico Government and Its Political Subdivisions in Unrealized Loss Position Percentage To Total Investment in Unrealized Loss Position | 6.00% | 6.00% | ||||
Maximum GovernmentBond Probability Of Default | 8.90% | 8.90% | ||||
Money market investments | $ 5,460 | $ 5,460 | $ 4,699 | |||
Securitized GNMA pools, amortized cost | $ 71,800 | $ 71,800 | ||||
Securitized GNMA pool, yield | 2.99% | 2.99% | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Gain (Loss) on Sale of Securities, Net | $ 0 | $ 0 | $ 12,207 | $ 2,572 | ||
Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held | 0 | 0 | $ 1,490 | $ 0 | ||
Investments Guaranteed By Local Government And Its Political Subdivisions In Unrealized Loss On Position with Default Probability Principal | 4,600 | 4,600 | ||||
Investments Guaranteed By Local Government And Its Political Subdivisions In Unrealized Loss On Position with Cumulative Default Probability Fair Value | $ 4,100 | $ 4,100 | ||||
Investments Guaranteed By Local Government And Its Political Subdivisions In Unrealized Loss Position Fair Vaue Percentage to Total Cost | 87.00% | 87.00% | ||||
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 | 101,259 | ||||
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 | 37,736 | ||||
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 | Sep. 30, 2016 | Dec. 31, 2015 |
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 623,994 | $ 955,646 |
Available-for-sale Securities, Gross Unrealized Gains | 19,671 | 27,312 |
Available-for-sale Securities, Gross Unrealized Losses | 982 | 8,349 |
Available-for-sale Securities | $ 642,683 | $ 974,609 |
Available for sale - Weighted Average Yield | 2.57% | 2.87% |
Held-to-maturity, Amortized cost | $ 641,890 | $ 620,189 |
Held to maturity Securities Unrecognized Gains | 8,151 | 426 |
Held-to-maturity Securities, Unrecognized Loss | 18 | 5,936 |
Held to maturity Fair Value | $ 650,023 | $ 614,679 |
Held to maturity - Weighted Average Yield | 2.11% | 2.17% |
Total Securities - Amortized Cost | $ 1,265,884 | $ 1,575,835 |
Total Securities Gross Unrealized Gains | 27,822 | 27,738 |
Total Securities Gross Unrealized Losses | 1,000 | 14,285 |
Total Securities Fair Value | $ 1,292,706 | $ 1,589,288 |
Marketable Securities Weighted Average Yield | 2.34% | 2.60% |
Collateralized Mortgage Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 613,238 | $ 930,279 |
Available-for-sale Securities, Gross Unrealized Gains | 19,560 | 27,184 |
Available-for-sale Securities, Gross Unrealized Losses | 370 | 4,250 |
Available-for-sale Securities | $ 632,428 | $ 953,213 |
Available for sale - Weighted Average Yield | 2.56% | 2.82% |
Held-to-maturity, Amortized cost | $ 616,883 | $ 595,157 |
Held to maturity Securities Unrecognized Gains | 8,141 | 426 |
Held-to-maturity Securities, Unrecognized Loss | 18 | 5,865 |
Held to maturity Fair Value | $ 625,006 | $ 589,718 |
Held to maturity - Weighted Average Yield | 2.17% | 2.24% |
Collateralized Mortgage Backed Securities [Member] | FNMA and FHLMC [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 376,242 | $ 735,363 |
Available-for-sale Securities, Gross Unrealized Gains | 13,365 | 25,791 |
Available-for-sale Securities, Gross Unrealized Losses | 0 | 1,509 |
Available-for-sale Securities | $ 389,607 | $ 759,645 |
Available for sale - Weighted Average Yield | 2.60% | 2.97% |
Held-to-maturity, Amortized cost | $ 616,883 | $ 595,157 |
Held to maturity Securities Unrecognized Gains | 8,141 | 426 |
Held-to-maturity Securities, Unrecognized Loss | 18 | 5,865 |
Held to maturity Fair Value | $ 625,006 | $ 589,718 |
Held to maturity - Weighted Average Yield | 2.17% | 2.24% |
Collateralized Mortgage Backed Securities [Member] | GNMA [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 125,188 | $ 57,129 |
Available-for-sale Securities, Gross Unrealized Gains | 5,797 | 1,366 |
Available-for-sale Securities, Gross Unrealized Losses | 0 | 0 |
Available-for-sale Securities | $ 130,985 | $ 58,495 |
Available for sale - Weighted Average Yield | 3.02% | 3.19% |
Collateralized Mortgage Backed Securities [Member] | CMO's [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 111,808 | $ 137,787 |
Available-for-sale Securities, Gross Unrealized Gains | 398 | 27 |
Available-for-sale Securities, Gross Unrealized Losses | 370 | 2,741 |
Available-for-sale Securities | $ 111,836 | $ 135,073 |
Available for sale - Weighted Average Yield | 1.88% | 1.85% |
Securities Investment [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 10,756 | $ 25,367 |
Available-for-sale Securities, Gross Unrealized Gains | 111 | 128 |
Available-for-sale Securities, Gross Unrealized Losses | 612 | 4,099 |
Available-for-sale Securities | $ 10,255 | $ 21,396 |
Available for sale - Weighted Average Yield | 3.47% | 4.94% |
Held-to-maturity, Amortized cost | $ 25,007 | $ 25,032 |
Held to maturity Securities Unrecognized Gains | 10 | 0 |
Held-to-maturity Securities, Unrecognized Loss | 0 | 71 |
Held to maturity Fair Value | $ 25,017 | $ 24,961 |
Held to maturity - Weighted Average Yield | 0.49% | 0.49% |
Securities Investment [Member] | US Treasury Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Held-to-maturity, Amortized cost | $ 25,007 | $ 25,032 |
Held to maturity Securities Unrecognized Gains | 10 | 0 |
Held-to-maturity Securities, Unrecognized Loss | 0 | 71 |
Held to maturity Fair Value | $ 25,017 | $ 24,961 |
Held to maturity - Weighted Average Yield | 0.49% | 0.49% |
Securities Investment [Member] | Obligation of US Government sponsored agencies at loss [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 4,170 | $ 5,122 |
Available-for-sale Securities, Gross Unrealized Gains | 0 | 0 |
Available-for-sale Securities, Gross Unrealized Losses | 5 | 29 |
Available-for-sale Securities | $ 4,165 | $ 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 | $ 4,680 | $ 17,801 |
Available-for-sale Securities, Gross Unrealized Gains | 0 | 0 |
Available-for-sale Securities, Gross Unrealized Losses | 607 | 4,070 |
Available-for-sale Securities | $ 4,073 | $ 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 | $ 1,906 | $ 2,444 |
Available-for-sale Securities, Gross Unrealized Gains | 111 | 128 |
Available-for-sale Securities, Gross Unrealized Losses | 0 | 0 |
Available-for-sale Securities | $ 2,017 | $ 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 | Sep. 30, 2016 | Dec. 31, 2015 |
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 623,994 | $ 955,646 |
Available-for-sale Securities | 642,683 | 974,609 |
Held-to-maturity, Amortized cost | 641,890 | 620,189 |
Held to maturity Fair Value | 650,023 | 614,679 |
Collateralized Mortgage Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 613,238 | 930,279 |
Available-for-sale Securities | 632,428 | 953,213 |
Held-to-maturity, Amortized cost | 616,883 | 595,157 |
Held to maturity Fair Value | 625,006 | 589,718 |
Collateralized Mortgage Backed Securities [Member] | FNMA and FHLMC [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 376,242 | 735,363 |
Available-for-sale Securities | 389,607 | 759,645 |
Held-to-maturity, Amortized cost | 616,883 | 595,157 |
Held to maturity Fair Value | 625,006 | 589,718 |
Collateralized Mortgage Backed Securities [Member] | GNMA [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 125,188 | 57,129 |
Available-for-sale Securities | 130,985 | 58,495 |
Collateralized Mortgage Backed Securities [Member] | CMO's [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 111,808 | 137,787 |
Available-for-sale Securities | 111,836 | 135,073 |
Collateralized Mortgage Backed Securities [Member] | Maturities Due From One To Five Years [Member] | FNMA and FHLMC [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 11,294 | |
Available-for-sale Securities | 11,629 | |
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] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 29,417 | |
Available-for-sale Securities | 30,082 | |
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 | 27,173 | |
Available-for-sale Securities | 27,837 | |
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] | CMO's [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 2,244 | |
Available-for-sale Securities | 2,245 | |
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 | 572,527 | |
Available-for-sale Securities | 590,717 | |
Held-to-maturity, Amortized cost | 616,883 | |
Held to maturity Fair Value | 625,006 | |
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 | 337,775 | |
Available-for-sale Securities | 350,141 | |
Held-to-maturity, Amortized cost | 616,883 | |
Held to maturity Fair Value | 625,006 | |
Collateralized Mortgage Backed Securities [Member] | Maturities Due After Ten Years [Member] | GNMA [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 125,188 | |
Available-for-sale Securities | 130,985 | |
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 | 109,564 | |
Available-for-sale Securities | 109,591 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Investment Securities | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 10,756 | 25,367 |
Available-for-sale Securities | 10,255 | 21,396 |
Held-to-maturity, Amortized cost | 25,007 | 25,032 |
Held to maturity Fair Value | 25,017 | 24,961 |
Investment Securities | US Treasury Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Held-to-maturity, Amortized cost | 25,007 | 25,032 |
Held to maturity Fair Value | 25,017 | 24,961 |
Investment Securities | Obligation of US Government sponsored agencies at loss [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 4,170 | 5,122 |
Available-for-sale Securities | 4,165 | 5,093 |
Investment Securities | Obligation of Puerto Rico Government and political subdivisions [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 4,680 | 17,801 |
Available-for-sale Securities | 4,073 | 13,731 |
Investment Securities | Other Debt Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 1,906 | 2,444 |
Available-for-sale Securities | 2,017 | $ 2,572 |
Investment Securities | Maturities Due From One To Five Years [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 4,680 | |
Available-for-sale Securities | 4,073 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
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 | 0 | |
Held to maturity Fair Value | 0 | |
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 | 4,680 | |
Available-for-sale Securities | 4,073 | |
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 | 6,076 | |
Available-for-sale Securities | 6,182 | |
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 | 4,170 | |
Available-for-sale Securities | 4,165 | |
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 | 1,906 | |
Available-for-sale Securities | 2,017 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | $ 0 |
Investment Securities (Gross re
Investment Securities (Gross realize gains and losses by category) (Details) - Collateralized Mortgage Backed Securities [Member] - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Schedule of Available-for-sale Securities [Line Items] | ||
Sale Price | $ 300,483 | $ 103,831 |
Book Value | 288,276 | 101,259 |
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 | 37,736 |
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 | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Available For Sale Securities Continuous Unrealized Loss Position Amortized Cost [Abstract] | ||
Available for sale - Amortized cost - less than 12 month | $ 17,351 | $ 180,338 |
Available for sale - Amortized cost - more than 12 month | 42,259 | 121,141 |
Total Available for Sale Amortization cost | 59,610 | 301,479 |
Available For Sale Securities Continuous Unrealized Loss Position Aggregate Losses [Abstract] | ||
Available for sale - Unrealized Loss - less than 12 month | 55 | 1,869 |
Available for sale - Unrealized Loss - more than 12 month | 927 | 6,480 |
Total Available for Sale Unrealized Loss | 982 | 8,349 |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value [Abstract] | ||
Available for sale - Fair Value - less than 12 month | 17,296 | 178,469 |
Available-for-sale, Fair Value - more than 12 month | 41,332 | 114,661 |
Total Available for Sale Fair Value | 58,628 | 293,130 |
Continuous Unrealized Loss Position Amortized Cost [Abstract] | ||
Held to Maturity - Amortized cost - less than 12 month | 21,240 | 493,519 |
Held to Maturity - Amortized Cost | 21,240 | 493,519 |
Held To Maturity Securities, Continuous Unrealized Loss Position Aggregate Losses [Abstract] | ||
Held to Maturity- Unrealized Loss - less than 12 month | 18 | |
Held to Maturity- Unrealized Loss - more than 12 month | 5,936 | |
Held to Maturity- Unrealized Loss | 18 | 5,936 |
Held To Maturity Securities Continuous Unrealized Loss Position Fair Value [Abstract] | ||
Held-to-Maturity - Fair Value - less than 12 Month | 21,222 | 487,583 |
Held to Maturity - Fair Value | 21,222 | 487,583 |
Investment Securities Continuous Unrealized Loss Position [Abstract] | ||
Investment Securities - Amortized Cost - less than 12 month | 38,591 | 673,857 |
Investment Securities - Amortized Cost - more than 12 month | 42,259 | 121,141 |
Investment Securities - Amortized Cost | 80,850 | 794,998 |
Investment Securities - Unrealized Position - less than 12 month | 73 | 7,805 |
Investment Securities - Unrealized Position - more than 12 month | 927 | 6,480 |
Investment Securities - Unrealized Loss | 1,000 | 14,285 |
Investment Securities - Fair Value - less than 12 month | 38,518 | 666,052 |
Investment Securities - Fair Value - more than 12 month | 41,332 | 114,661 |
Investment Securities - Fair Value | 79,850 | 780,713 |
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 | 13,181 | 25,736 |
Available for sale - Amortized cost - more than 12 month | 37,579 | 103,340 |
Total Available for Sale Amortization cost | 50,760 | 129,076 |
Available For Sale Securities Continuous Unrealized Loss Position Aggregate Losses [Abstract] | ||
Available for sale - Unrealized Loss - less than 12 month | 50 | 331 |
Available for sale - Unrealized Loss - more than 12 month | 320 | 2,410 |
Total Available for Sale Unrealized Loss | 370 | 2,741 |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value [Abstract] | ||
Available for sale - Fair Value - less than 12 month | 13,131 | 25,405 |
Available-for-sale, Fair Value - more than 12 month | 37,259 | 100,930 |
Total Available for Sale Fair Value | 50,390 | 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 | 4,680 | 17,801 |
Total Available for Sale Amortization cost | 4,680 | 17,801 |
Available For Sale Securities Continuous Unrealized Loss Position Aggregate Losses [Abstract] | ||
Available for sale - Unrealized Loss - more than 12 month | 607 | 4,070 |
Total Available for Sale Unrealized Loss | 607 | 4,070 |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value [Abstract] | ||
Available-for-sale, Fair Value - more than 12 month | 4,073 | 13,731 |
Total Available for Sale Fair Value | 4,073 | 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 | 21,240 | 468,487 |
Held to Maturity - Amortized Cost | 21,240 | 468,487 |
Held To Maturity Securities, Continuous Unrealized Loss Position Aggregate Losses [Abstract] | ||
Held to Maturity- Unrealized Loss - less than 12 month | 18 | |
Held to Maturity- Unrealized Loss - more than 12 month | 5,865 | |
Held to Maturity- Unrealized Loss | 18 | 5,865 |
Held To Maturity Securities Continuous Unrealized Loss Position Fair Value [Abstract] | ||
Held-to-Maturity - Fair Value - less than 12 Month | 21,222 | 462,622 |
Held to Maturity - Fair Value | 21,222 | 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 | 4,170 | 5,122 |
Total Available for Sale Amortization cost | 4,170 | 5,122 |
Available For Sale Securities Continuous Unrealized Loss Position Aggregate Losses [Abstract] | ||
Available for sale - Unrealized Loss - less than 12 month | 5 | 29 |
Total Available for Sale Unrealized Loss | 5 | 29 |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value [Abstract] | ||
Available for sale - Fair Value - less than 12 month | 4,165 | 5,093 |
Total Available for Sale Fair Value | $ 4,165 | |
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 | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Other Than Temporary Impairment Credit Losses Recognized In Earnings Roll Forward | ||
Begging Balance | $ 1,490 | $ 0 |
Reduction from Securities Solddurinf the period | 1,490 | 0 |
Additions from credit losses recognized on available-for-sale securities that had no previous impairment losses | 0 | $ 246 |
Ending Balance | $ 0 |
Loans Receivable (Narratives) (
Loans Receivable (Narratives) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Accounts Notes And Loans Receivable Line Items | |||||
Reimbursement from FDIC shared-loss coverage in sale of loans | $ 0 | $ 20,000,000 | $ 0 | $ 20,000,000 | |
Financing Receivable Modifications Recorded Investment Not Included In Non Accrual | 100,300,000 | 100,300,000 | $ 93,600,000 | ||
Originated Loans Granted To Puerto Rico Government | 136,800,000 | 136,800,000 | 334,600,000 | ||
Acquired Loans Under ASC 310-30 granted to the Puerto Rico Government | 65,600,000 | 65,600,000 | 80,900,000 | ||
Loans And Leases Receivable Gross Carrying Amount Covered | 75,000,000 | 75,000,000 | 92,300,000 | ||
Loans And Leases Receivable Net Reported Amount Covered | 62,800,000 | 62,800,000 | 67,200,000 | ||
Line Of Credit Facility Maximum Borrowing Capacity to Puerto Rico Government | 202,400,000 | 202,400,000 | 415,400,000 | ||
Credit Facilities Granted to the Puerto Rico Public Corporation | 11,200,000 | 11,200,000 | |||
Unpaid principal balance of the revolving line of credit granted to the Government of Puerto Rico | 190,300,000 | ||||
General obligations debt of municipalities secured | 191,200,000 | 191,200,000 | |||
Puerto Rico Housing Finance Authority credit facilities | 10,900,000 | 10,900,000 | |||
Impaired Commercial Loans | 36,600,000 | 36,600,000 | 235,800,000 | ||
Allowance for impaired commercial loans | 5,600,000 | 5,600,000 | 55,900,000 | ||
Impaired Mortgage Loans | 92,300,000 | 92,300,000 | 90,000,000 | ||
Allowance For Impaired Mortgage Loans | 8,700,000 | 8,700,000 | 9,200,000 | ||
Credit facilities granted to Puerto Rico Public Corporations | 200,800,000 | ||||
Interest Income Recognized for Covered Loans | 6,400,000 | $ 31,400,000 | |||
Change In Consumer Loans Delinquency Due To The Use Of Two Schedule Payments | 19,000 | 19,000 | |||
Change In Auto Loans Delinquency Due To The Use Of Two Schedule Payments | 5,900,000 | 5,900,000 | |||
Allowance de-recognition due to change in policy from acquired BBVAPR loans | 8,900,000 | ||||
Allowance de-recognition due to change in policy from loans acquired Eurobank loans | 73,100,000 | ||||
PREPA fuel line of credit, sale price | 123,500,000 | 123,500,000 | |||
PREPA line of credit at lower of cost or fair value | 123,137,000 | 123,137,000 | 0 | ||
PREPA Line of Credit Sold Specific Allowance | $ 53,300,000 | ||||
PREPA Line of Credit Sold Charge-off | 56,200,000 | 56,200,000 | |||
PREPA Line of Credit Sold Provision | 2,900,000 | 2,900,000 | |||
PREPA Line of Credit Sold Outstanding Participation Balance | $ 200,000,000 | $ 200,000,000 |
Loans Receivable (Composition o
Loans Receivable (Composition of loan portfolio) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 4,263,057 | $ 4,650,527 |
Allowance for loan and lease losses | (119,012) | (234,131) |
Loans, net of allowance for loan and lease losses, excluding loans held-for-sale. | 4,144,045 | 4,416,396 |
Deferred loan cost (fees), net | 5,421 | 4,203 |
Loans receivable net of deferred loan cost (fees) | 4,149,466 | 4,420,599 |
Mortgage loans held-for-sale | 26,362 | 13,614 |
Other Loans Held for Sale | 123,137 | 0 |
Total loans, net | 4,298,965 | 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 | 104,363 | 152,753 |
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 | 5,755 | 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 | 34,215 | 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 | 64,393 | 106,911 |
Originated Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 3,011,799 | 3,111,590 |
Allowance for loan and lease losses | (62,168) | (112,626) |
Loans, net of allowance for loan and lease losses, excluding loans held-for-sale. | 2,949,631 | 2,998,964 |
Deferred loan cost (fees), net | 5,421 | 4,203 |
Loans receivable net of deferred loan cost (fees) | 2,955,052 | 3,003,167 |
Total loans, net | 2,955,052 | 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 | 735,367 | 757,828 |
Allowance for loan and lease losses | (18,527) | (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 | 1,267,177 | 1,441,649 |
Allowance for loan and lease losses | (12,307) | (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 | 278,666 | 242,950 |
Allowance for loan and lease losses | (12,289) | (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 | 730,589 | 669,163 |
Allowance for loan and lease losses | (19,002) | (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 | 1,091,974 | 1,301,973 |
Allowance for loan and lease losses | (34,032) | (31,327) |
Loans, net of allowance for loan and lease losses, excluding loans held-for-sale. | 1,057,942 | 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 | 579,769 | 608,294 |
Allowance for loan and lease losses | (2,664) | (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 | 235,918 | 294,768 |
Allowance for loan and lease losses | (22,016) | (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 | 39,983 | 50,228 |
Allowance for loan and lease losses | (2,946) | (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 | 164,868 | 260,503 |
Allowance for loan and lease losses | (6,406) | (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 | 71,436 | 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 | 104,363 | 152,753 |
Allowance for loan and lease losses | (4,213) | (5,542) |
Loans, net of allowance for loan and lease losses, excluding loans held-for-sale. | 100,150 | 147,211 |
Loans receivable net of deferred loan cost (fees) | 100,150 | 147,211 |
Total loans, net | 100,150 | 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 | 5,755 | 7,457 |
Allowance for loan and lease losses | (18) | (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 | 34,215 | 38,385 |
Allowance for loan and lease losses | (2,946) | (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 | 64,393 | 106,911 |
Allowance for loan and lease losses | (1,249) | (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 | 987,611 | 1,149,220 |
Allowance for loan and lease losses | (29,819) | (25,785) |
Loans, net of allowance for loan and lease losses, excluding loans held-for-sale. | 957,792 | 1,123,435 |
Loans receivable net of deferred loan cost (fees) | 957,792 | 1,123,435 |
Total loans, net | 957,792 | 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 | 579,769 | 608,294 |
Allowance for loan and lease losses | (2,664) | (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 | 230,163 | 287,311 |
Allowance for loan and lease losses | (21,998) | (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 | 5,768 | 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 | 100,475 | 153,592 |
Allowance for loan and lease losses | (5,157) | (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 | 71,436 | 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 | 159,284 | 236,964 |
Allowance for loan and lease losses | (22,812) | (90,178) |
Loans, net of allowance for loan and lease losses, excluding loans held-for-sale. | 136,472 | 146,786 |
Loans receivable net of deferred loan cost (fees) | 136,472 | 146,786 |
Total loans, net | 136,472 | 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 | 82,753 | 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 | 1,488 | 2,314 |
Allowance for loan and lease losses | 0 | (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 | 75,043 | 92,273 |
Allowance for loan and lease losses | (12,268) | (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 | $ (10,544) | $ (67,365) |
Loans Receivable (Aging of reco
Loans Receivable (Aging of recorded investment in gross loans) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | $ 4,263,057 | $ 4,650,527 |
Originated Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 66,002 | 70,660 |
60 - 89 Days Past Due | 45,288 | 44,483 |
Greater than 90 Days Past Due | 97,033 | 100,854 |
Total Past Due | 208,323 | 215,997 |
Current but Non-Accrual Loans | 14,153 | 201,991 |
Current | 2,789,323 | 2,693,602 |
Total Loans | 3,011,799 | 3,111,590 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 3,374 | 3,825 |
Originated Loan [Member] | Mortgage Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 13,632 | 11,751 |
60 - 89 Days Past Due | 23,383 | 24,339 |
Greater than 90 Days Past Due | 76,350 | 74,841 |
Total Past Due | 113,365 | 110,931 |
Current but Non-Accrual Loans | 3,744 | 5,964 |
Current | 618,258 | 640,933 |
Total Loans | 735,367 | 757,828 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 3,374 | 3,825 |
Originated Loan [Member] | Traditional loan | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 2,724 | 1,793 |
60 - 89 Days Past Due | 16,511 | 16,475 |
Greater than 90 Days Past Due | 43,435 | 46,823 |
Total Past Due | 62,670 | 65,091 |
Current but Non-Accrual Loans | 1,040 | 358 |
Current | 532,965 | 552,556 |
Total Loans | 596,675 | 618,005 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 1,254 | 742 |
Originated Loan [Member] | Originated Up To The Year 2002 [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 190 | 80 |
60 - 89 Days Past Due | 1,607 | 2,217 |
Greater than 90 Days Past Due | 3,388 | 3,889 |
Total Past Due | 5,185 | 6,186 |
Current but Non-Accrual Loans | 92 | 41 |
Current | 47,169 | 51,562 |
Total Loans | 52,446 | 57,789 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 114 | 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 | 249 | 251 |
60 - 89 Days Past Due | 4,271 | 5,036 |
Greater than 90 Days Past Due | 6,142 | 5,536 |
Total Past Due | 10,662 | 10,823 |
Current but Non-Accrual Loans | 332 | 0 |
Current | 81,915 | 88,623 |
Total Loans | 92,909 | 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 | 123 | 79 |
60 - 89 Days Past Due | 1,810 | 2,553 |
Greater than 90 Days Past Due | 3,930 | 3,549 |
Total Past Due | 5,863 | 6,181 |
Current but Non-Accrual Loans | 202 | 0 |
Current | 44,617 | 48,040 |
Total Loans | 50,682 | 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 | 781 | 551 |
60 - 89 Days Past Due | 3,434 | 2,878 |
Greater than 90 Days Past Due | 7,045 | 7,934 |
Total Past Due | 11,260 | 11,363 |
Current but Non-Accrual Loans | 321 | 176 |
Current | 60,358 | 66,864 |
Total Loans | 71,939 | 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 | 929 | 170 |
60 - 89 Days Past Due | 2,182 | 2,053 |
Greater than 90 Days Past Due | 11,283 | 14,733 |
Total Past Due | 14,394 | 16,956 |
Current but Non-Accrual Loans | 46 | 0 |
Current | 66,407 | 74,590 |
Total Loans | 80,847 | 91,546 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 569 | 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 | 452 | 662 |
60 - 89 Days Past Due | 2,777 | 1,673 |
Greater than 90 Days Past Due | 10,497 | 10,519 |
Total Past Due | 13,726 | 12,854 |
Current but Non-Accrual Loans | 0 | 141 |
Current | 129,710 | 137,749 |
Total Loans | 143,436 | 150,744 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 571 | 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 | 430 | 65 |
Greater than 90 Days Past Due | 1,150 | 663 |
Total Past Due | 1,580 | 728 |
Current but Non-Accrual Loans | 47 | 0 |
Current | 102,789 | 85,128 |
Total Loans | 104,416 | 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 | 301 | 977 |
Greater than 90 Days Past Due | 5,002 | 5,079 |
Total Past Due | 5,303 | 6,056 |
Current but Non-Accrual Loans | 0 | 13 |
Current | 19,036 | 23,483 |
Total Loans | 24,339 | 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 | 10,908 | 9,958 |
60 - 89 Days Past Due | 6,571 | 6,887 |
Greater than 90 Days Past Due | 18,315 | 14,930 |
Total Past Due | 35,794 | 31,775 |
Current but Non-Accrual Loans | 2,704 | 5,593 |
Current | 65,918 | 64,548 |
Total Loans | 104,416 | 101,916 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 2,120 | 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 | 339 | 346 |
Total Loans | 339 | 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 | 9,598 | 7,945 |
Total Past Due | 9,598 | 7,945 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 0 | 0 |
Total Loans | 9,598 | 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 | 2,954 | 2,593 |
60 - 89 Days Past Due | 1,223 | 1,868 |
Greater than 90 Days Past Due | 10,770 | 16,677 |
Total Past Due | 14,947 | 21,138 |
Current but Non-Accrual Loans | 9,516 | 195,545 |
Current | 1,242,714 | 1,224,966 |
Total Loans | 1,267,177 | 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 | 672 | 2,073 |
60 - 89 Days Past Due | 912 | 1,178 |
Greater than 90 Days Past Due | 9,591 | 16,034 |
Total Past Due | 11,175 | 19,285 |
Current but Non-Accrual Loans | 6,611 | 2,907 |
Current | 755,370 | 706,764 |
Total Loans | 773,156 | 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 | 240,458 | 227,557 |
Total Loans | 240,458 | 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 | 1,495 | 0 |
Current | 27,265 | 33,594 |
Total Loans | 28,760 | 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 | 205 | 712 |
Greater than 90 Days Past Due | 3,114 | 9,113 |
Total Past Due | 3,319 | 10,999 |
Current but Non-Accrual Loans | 1,406 | 1,730 |
Current | 232,088 | 194,219 |
Total Loans | 236,813 | 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 | 672 | 686 |
60 - 89 Days Past Due | 707 | 466 |
Greater than 90 Days Past Due | 6,477 | 6,921 |
Total Past Due | 7,856 | 8,073 |
Current but Non-Accrual Loans | 3,710 | 1,177 |
Current | 236,983 | 231,840 |
Total Loans | 248,549 | 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 | 2,793 | 2,892 |
Total Loans | 2,793 | 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 | 15,783 | 16,662 |
Total Loans | 15,783 | 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 | 2,282 | 520 |
60 - 89 Days Past Due | 311 | 690 |
Greater than 90 Days Past Due | 1,179 | 643 |
Total Past Due | 3,772 | 1,853 |
Current but Non-Accrual Loans | 2,905 | 192,638 |
Current | 487,344 | 518,202 |
Total Loans | 494,021 | 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 | 126,325 | 108,582 |
Total Loans | 126,325 | 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 | 500 | 0 |
60 - 89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 0 | 0 |
Total Past Due | 500 | 0 |
Current but Non-Accrual Loans | 1,345 | 190,290 |
Current | 172,988 | 190,695 |
Total Loans | 174,833 | 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 | 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 | 1,350 | 1,565 |
Current | 85,349 | 105,748 |
Total Loans | 86,699 | 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 | 1,112 | 282 |
60 - 89 Days Past Due | 311 | 639 |
Greater than 90 Days Past Due | 1,060 | 604 |
Total Past Due | 2,483 | 1,525 |
Current but Non-Accrual Loans | 210 | 783 |
Current | 71,252 | 75,489 |
Total Loans | 73,945 | 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 | 670 | 238 |
60 - 89 Days Past Due | 0 | 51 |
Greater than 90 Days Past Due | 119 | 39 |
Total Past Due | 789 | 328 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 31,430 | 37,688 |
Total Loans | 32,219 | 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 | 2,852 | 2,750 |
60 - 89 Days Past Due | 1,944 | 1,378 |
Greater than 90 Days Past Due | 1,506 | 1,043 |
Total Past Due | 6,302 | 5,171 |
Current but Non-Accrual Loans | 778 | 433 |
Current | 271,586 | 237,346 |
Total Loans | 278,666 | 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 | 486 | 449 |
60 - 89 Days Past Due | 264 | 182 |
Greater than 90 Days Past Due | 510 | 369 |
Total Past Due | 1,260 | 1,000 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 24,204 | 21,766 |
Total Loans | 25,464 | 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 | 12 | 24 |
60 - 89 Days Past Due | 3 | 0 |
Greater than 90 Days Past Due | 3 | 0 |
Total Past Due | 18 | 24 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 178 | 166 |
Total Loans | 196 | 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 | 38 | 74 |
60 - 89 Days Past Due | 18 | 0 |
Greater than 90 Days Past Due | 37 | 45 |
Total Past Due | 93 | 119 |
Current but Non-Accrual Loans | 0 | 19 |
Current | 2,199 | 2,106 |
Total Loans | 2,292 | 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 | 2,154 | 2,078 |
60 - 89 Days Past Due | 1,657 | 1,179 |
Greater than 90 Days Past Due | 926 | 627 |
Total Past Due | 4,737 | 3,884 |
Current but Non-Accrual Loans | 778 | 414 |
Current | 229,480 | 196,858 |
Total Loans | 234,995 | 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 | 162 | 125 |
60 - 89 Days Past Due | 2 | 17 |
Greater than 90 Days Past Due | 30 | 2 |
Total Past Due | 194 | 144 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 15,525 | 16,450 |
Total Loans | 15,719 | 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 | 46,564 | 53,566 |
60 - 89 Days Past Due | 18,738 | 16,898 |
Greater than 90 Days Past Due | 8,407 | 8,293 |
Total Past Due | 73,709 | 78,757 |
Current but Non-Accrual Loans | 115 | 49 |
Current | 656,765 | 590,357 |
Total Loans | 730,589 | 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 | 6,279 | 8,683 |
60 - 89 Days Past Due | 2,122 | 2,721 |
Greater than 90 Days Past Due | 1,900 | 2,246 |
Total Past Due | 10,301 | 13,650 |
Current but Non-Accrual Loans | 4 | 0 |
Current | 94,058 | 139,103 |
Total Loans | 104,363 | 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 | 1,036 | 186 |
60 - 89 Days Past Due | 56 | 29 |
Greater than 90 Days Past Due | 458 | 880 |
Total Past Due | 1,550 | 1,095 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 4,205 | 6,362 |
Total Loans | 5,755 | 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 | 969 | 0 |
60 - 89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 377 | 695 |
Total Past Due | 1,346 | 695 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 1,286 | 2,422 |
Total Loans | 2,632 | 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 | 150 | 228 |
Total Past Due | 150 | 228 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 0 | 0 |
Total Loans | 150 | 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 | 969 | 0 |
60 - 89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 227 | 467 |
Total Past Due | 1,196 | 467 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 1,286 | 2,422 |
Total Loans | 2,482 | 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 | 67 | 186 |
60 - 89 Days Past Due | 56 | 29 |
Greater than 90 Days Past Due | 81 | 185 |
Total Past Due | 204 | 400 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 2,919 | 3,940 |
Total Loans | 3,123 | 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 | 67 | 186 |
60 - 89 Days Past Due | 56 | 29 |
Greater than 90 Days Past Due | 78 | 178 |
Total Past Due | 201 | 393 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 2,919 | 3,331 |
Total Loans | 3,120 | 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 | 3 | 7 |
Total Past Due | 3 | 7 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 0 | 609 |
Total Loans | 3 | 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 | 922 | 944 |
60 - 89 Days Past Due | 458 | 413 |
Greater than 90 Days Past Due | 703 | 535 |
Total Past Due | 2,083 | 1,892 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 32,132 | 36,493 |
Total Loans | 34,215 | 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 | 827 | 930 |
60 - 89 Days Past Due | 443 | 384 |
Greater than 90 Days Past Due | 641 | 489 |
Total Past Due | 1,911 | 1,803 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 29,452 | 33,414 |
Total Loans | 31,363 | 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 | 95 | 14 |
60 - 89 Days Past Due | 15 | 29 |
Greater than 90 Days Past Due | 62 | 46 |
Total Past Due | 172 | 89 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 2,680 | 3,079 |
Total Loans | 2,852 | 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 | 4,321 | 7,553 |
60 - 89 Days Past Due | 1,608 | 2,279 |
Greater than 90 Days Past Due | 739 | 831 |
Total Past Due | 6,668 | 10,663 |
Current but Non-Accrual Loans | 4 | 0 |
Current | 57,721 | 96,248 |
Total Loans | 64,393 | 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 | Sep. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
Accounts Notes And Loans Receivable Line Items | ||||||
Allowance for loan and lease losses | $ 29,819 | $ 25,785 | ||||
Acquired under ASC 310-30 Non-Covered Loans [Member] | ||||||
Accounts Notes And Loans Receivable Line Items | ||||||
Financing Receivable Acquired With Deteriorated Credit Quality | 1,716,721 | 1,945,098 | ||||
Non-acretable discount | 367,754 | $ 394,500 | 434,190 | $ 442,103 | $ 449,917 | $ 456,627 |
Cash expected to be collected | 1,348,967 | 1,510,908 | ||||
Accretable yield | (361,356) | (361,688) | ||||
Carrying amount, gross | 987,611 | 1,149,220 | ||||
Allowance for loan and lease losses | 29,819 | 25,785 | ||||
Carrying amount, net | $ 957,792 | $ 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 | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | $ 355,118 | $ 412,048 | $ 361,688 | $ 445,946 |
Accretion Accretable | 18,652 | 30,696 | 59,175 | 90,169 |
Change in expected cash flow | 2,139 | 7,528 | 5,751 | 7,528 |
Transfer from (to) non-accretable discount | 22,751 | (10,267) | 53,092 | 15,308 |
Balance at end of period | 361,356 | 378,613 | 361,356 | 378,613 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 394,500 | 449,917 | 434,190 | 456,627 |
Change in actual and expected losses | (3,995) | (18,081) | (13,344) | 784 |
Transfer (to) from accretable yield | (22,751) | 10,267 | (53,092) | (15,308) |
Balance at end of period | 367,754 | 442,103 | 367,754 | 442,103 |
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 | 283,823 | 275,880 | 268,794 | 298,364 |
Accretion Accretable | 8,197 | 8,614 | 24,798 | 26,414 |
Change in expected cash flow | (1) | 0 | (1) | 0 |
Transfer from (to) non-accretable discount | 24,056 | 75 | 55,686 | (4,609) |
Balance at end of period | 299,681 | 267,341 | 299,681 | 267,341 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 336,153 | 389,107 | 374,772 | 389,839 |
Change in actual and expected losses | (2,591) | (2,184) | (9,580) | (7,600) |
Transfer (to) from accretable yield | (24,056) | (75) | (55,686) | 4,609 |
Balance at end of period | 309,506 | 386,848 | 309,506 | 386,848 |
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 | 37,059 | 71,563 | 45,411 | 61,196 |
Accretion Accretable | 5,201 | 12,693 | 16,312 | 33,049 |
Change in expected cash flow | 1,764 | 6,134 | 4,954 | 6,134 |
Transfer from (to) non-accretable discount | (1,296) | (6,450) | (1,727) | 24,273 |
Balance at end of period | 32,326 | 58,554 | 32,326 | 58,554 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 10,582 | 10,770 | 11,781 | 23,069 |
Change in actual and expected losses | (1,215) | (12,090) | (2,845) | 6,334 |
Transfer (to) from accretable yield | 1,296 | 6,450 | 1,727 | (24,273) |
Balance at end of period | 10,663 | 5,130 | 10,663 | 5,130 |
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 | 15,248 | 24,613 | 19,615 | 25,829 |
Accretion Accretable | 1,485 | 2,719 | 4,661 | 8,672 |
Change in expected cash flow | (1) | 1,396 | (209) | 1,396 |
Transfer from (to) non-accretable discount | 283 | (4,075) | (700) | 662 |
Balance at end of period | 14,045 | 19,215 | 14,045 | 19,215 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 7,419 | 6,994 | 6,764 | 3,486 |
Change in actual and expected losses | (1) | (2,937) | (329) | 5,308 |
Transfer (to) from accretable yield | (283) | 4,075 | 700 | 662 |
Balance at end of period | 7,135 | 8,132 | 7,135 | 8,132 |
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 | 14,103 | 31,531 | 21,578 | 53,998 |
Accretion Accretable | 3,107 | 5,463 | 10,934 | 18,614 |
Change in expected cash flow | 618 | (1) | 1,249 | (1) |
Transfer from (to) non-accretable discount | (525) | 148 | (804) | (9,168) |
Balance at end of period | 11,089 | 26,215 | 11,089 | 26,215 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 22,121 | 23,690 | 22,039 | 16,215 |
Change in actual and expected losses | (309) | (555) | (506) | (2,396) |
Transfer (to) from accretable yield | 525 | (148) | 804 | 9,168 |
Balance at end of period | 22,337 | 22,987 | 22,337 | 22,987 |
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 | 4,885 | 8,461 | 6,290 | 6,559 |
Accretion Accretable | 662 | 1,207 | 2,470 | 3,420 |
Change in expected cash flow | (241) | (1) | (242) | (1) |
Transfer from (to) non-accretable discount | 233 | 35 | 637 | 4,150 |
Balance at end of period | 4,215 | 7,288 | 4,215 | 7,288 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 18,225 | 19,356 | 18,834 | 24,018 |
Change in actual and expected losses | 121 | (315) | (84) | (862) |
Transfer (to) from accretable yield | (233) | (35) | (637) | (4,150) |
Balance at end of period | $ 18,113 | $ 19,006 | $ 18,113 | $ 19,006 |
Loans Receivable (Eurobank Acqu
Loans Receivable (Eurobank Acquired Loan carrying amounts) (Details) - Eurobank Acquired Loans - USD ($) $ in Thousands | Sep. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
Accounts Notes And Loans Receivable Line Items | ||||||
Financing Receivable Acquired With Deteriorated Credit Quality | $ 243,873 | $ 342,511 | ||||
Non-acretable discount | 7,934 | $ 11,555 | 21,156 | $ 21,675 | $ 21,132 | $ 62,410 |
Cash expected to be collected | 235,939 | 321,355 | ||||
Accretable yield | (76,655) | (84,391) | ||||
Carrying amount, gross | 159,284 | 236,964 | ||||
Financing Receivable, Allowance for Credit Losses | 22,812 | 90,178 | ||||
Carrying amount, net | $ 136,472 | $ 146,786 |
Loans Receivable (Accretable 63
Loans Receivable (Accretable yield and non-accretable discount activity of acquired Eurobank loans) (Details) - Acquired Loans In An F D I C Assisted Transaction [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | $ 79,682 | $ 104,641 | $ 84,391 | $ 109,859 |
Accretion Accretable | 9,339 | 16,014 | 23,797 | 44,276 |
Change in expected cash flow | 2,909 | 37,734 | 14,361 | 37,734 |
Transfer from (to) non-accretable discount | 3,403 | (30,503) | 1,700 | (7,459) |
Balance at end of period | 76,655 | 95,858 | 76,655 | 95,858 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 11,555 | 21,132 | 21,156 | 62,410 |
Change in actual and expected losses | (218) | (29,960) | (11,522) | (48,194) |
Transfer (to) from accretable yield | (3,403) | 30,503 | (1,700) | 7,459 |
Balance at end of period | 7,934 | 21,675 | 7,934 | 21,675 |
Mortgage | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 48,336 | 55,806 | 51,954 | 47,636 |
Accretion Accretable | 2,217 | 3,543 | 6,746 | 10,337 |
Change in expected cash flow | 646 | 4,320 | 1,432 | 4,320 |
Transfer from (to) non-accretable discount | 3,737 | (2,188) | 3,862 | 12,776 |
Balance at end of period | 50,502 | 54,395 | 50,502 | 54,395 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 11,555 | 11,402 | 12,869 | 27,348 |
Change in actual and expected losses | (845) | (8) | (2,034) | (990) |
Transfer (to) from accretable yield | (3,737) | 2,188 | (3,862) | (12,776) |
Balance at end of period | 6,973 | 13,582 | 6,973 | 13,582 |
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 | 29,142 | 27,473 | 26,970 | 37,919 |
Accretion Accretable | 6,570 | 10,100 | 15,193 | 28,002 |
Change in expected cash flow | 1,719 | 43,775 | 14,431 | 43,775 |
Transfer from (to) non-accretable discount | (188) | (30,400) | (2,105) | (22,944) |
Balance at end of period | 24,103 | 30,748 | 24,103 | 30,748 |
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 | 24,464 |
Change in actual and expected losses | 617 | (30,400) | (1,300) | (47,408) |
Transfer (to) from accretable yield | 188 | 30,400 | 2,105 | 22,944 |
Balance at end of period | 805 | 0 | 805 | 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 | 2,204 | 18,349 | 2,255 | 20,753 |
Accretion Accretable | 0 | 1,446 | 47 | 2,470 |
Change in expected cash flow | (8) | (10,749) | (31) | (10,749) |
Transfer from (to) non-accretable discount | (146) | 175 | (127) | (1,205) |
Balance at end of period | 2,050 | 6,329 | 2,050 | 6,329 |
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 | 10 | 175 | 29 | (1,205) |
Transfer (to) from accretable yield | 146 | (175) | 127 | 1,205 |
Balance at end of period | 156 | 0 | 156 | 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 | 1,103 | 0 | 2,479 |
Accretion Accretable | 62 | 711 | 60 | 3,040 |
Change in expected cash flow | 62 | 270 | (15) | 270 |
Transfer from (to) non-accretable discount | 0 | 307 | 75 | 1,260 |
Balance at end of period | 0 | 969 | 0 | 969 |
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 | 307 | 75 | 1,260 |
Transfer (to) from accretable yield | 0 | (307) | (75) | (1,260) |
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 | 1,910 | 3,212 | 1,072 |
Accretion Accretable | 490 | 214 | 1,751 | 427 |
Change in expected cash flow | 490 | 118 | (1,456) | 118 |
Transfer from (to) non-accretable discount | 0 | 1,603 | (5) | 2,654 |
Balance at end of period | 0 | 3,417 | 0 | 3,417 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 0 | 9,730 | 8,287 | 10,598 |
Change in actual and expected losses | 0 | (34) | (8,292) | 149 |
Transfer (to) from accretable yield | 0 | (1,603) | 5 | (2,654) |
Balance at end of period | $ 0 | $ 8,093 | $ 0 | $ 8,093 |
Loans Receivable (Investment in
Loans Receivable (Investment in loans on non-accrual status) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 106,097 | $ 300,119 |
Originated Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 104,159 | 297,873 |
Originated Loan [Member] | Mortgage Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 70,363 | 72,479 |
Originated Loan [Member] | Traditional loan | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 43,876 | 47,215 |
Originated Loan [Member] | Originated Up To The Year 2002 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 3,436 | 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 | 6,474 | 5,737 |
Originated Loan [Member] | Originated In The Year 2005 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 4,367 | 3,627 |
Originated Loan [Member] | Originated In The Year 2006 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 7,412 | 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 | 10,931 | 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 | 10,059 | 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 | 1,197 | 663 |
Originated Loan [Member] | NonTraditional Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 5,002 | 5,092 |
Originated Loan [Member] | Loss Mitigation Program [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 21,485 | 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 | 21,852 | 215,281 |
Originated Loan [Member] | Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 15,766 | 21,455 |
Originated Loan [Member] | Middle Market Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 4,726 | 12,729 |
Originated Loan [Member] | Retail Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 11,040 | 8,726 |
Originated Loan [Member] | Other Commercial and Industrial[Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 6,086 | 193,826 |
Originated Loan [Member] | Corporate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,845 | 190,290 |
Originated Loan [Member] | Middle Market Other Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,350 | 1,565 |
Originated Loan [Member] | Retail Other Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,101 | 1,932 |
Originated Loan [Member] | Floor Plan Other Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 790 | 39 |
Originated Loan [Member] | Consumer Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,467 | 1,631 |
Originated Loan [Member] | Credit Cards [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 510 | 369 |
Originated Loan [Member] | Unsecured personal lines of credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 37 | 100 |
Originated Loan [Member] | Unsecured personal loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,890 | 1,146 |
Originated Loan [Member] | Cash collateral personal loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 30 | 16 |
Originated Loan [Member] | Auto and Leasing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 9,477 | 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 | 1,938 | 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 | 458 | 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 | 377 | 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 | 150 | 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 | 227 | 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 | 81 | 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 | 78 | 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 | 3 | 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 | 703 | 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 | 641 | 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 | 62 | 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 | $ 777 | $ 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 |
Sep. 30, 2016 | Dec. 31, 2015 | |
Financing Receivable, Impaired [Line Items] | ||
Allowance for loan and lease losses | $ 119,012 | $ 234,131 |
Originated Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | 145,213 | 350,252 |
Recorded Investment | 128,712 | 325,267 |
Allowance for loan and lease losses | $ 14,297 | $ 65,180 |
Coverage | 11.00% | 20.00% |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 251 | $ 486 |
Recorded Investment | 230 | 474 |
Acquired BBVAPR Accounted under ASC 310-30 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | 937,864 | 1,137,377 |
Recorded Investment | 895,577 | 1,017,976 |
Allowance for loan and lease losses | $ 29,819 | $ 25,785 |
Coverage | 3.00% | 3.00% |
Eurobank Acquired Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 141,105 | $ 241,305 |
Recorded Investment | 125,270 | 236,964 |
Allowance for loan and lease losses | $ 22,812 | $ 90,178 |
Coverage | 18.00% | 38.00% |
Commercial impaired loans with specific allowance [Member] | Originated Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 16,915 | $ 210,718 |
Recorded Investment | 14,949 | 199,366 |
Allowance for loan and lease losses | $ 5,572 | $ 55,947 |
Coverage | 38.00% | 28.00% |
Residential troubled-debt restructuring impaired loans with specific allowance [Member] | Originated Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 100,390 | $ 97,424 |
Recorded Investment | 92,343 | 89,973 |
Allowance for loan and lease losses | $ 8,725 | $ 9,233 |
Coverage | 9.00% | 10.00% |
Commercial impaired loans with no specific allowance financing receivable | Originated Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 27,908 | $ 42,110 |
Recorded Investment | 21,420 | 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 | 251 | 486 |
Recorded Investment | 230 | 474 |
Mortgage impaired loan pool [Member] | Acquired BBVAPR Accounted under ASC 310-30 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | 608,751 | 608,294 |
Recorded Investment | 579,770 | 608,294 |
Allowance for loan and lease losses | $ 2,664 | $ 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 | $ 168,980 | $ 287,311 |
Recorded Investment | 164,061 | 168,107 |
Allowance for loan and lease losses | $ 17,878 | $ 15,455 |
Coverage | 11.00% | 9.00% |
Construction impaired loan pool [Member] | Acquired BBVAPR Accounted under ASC 310-30 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 52,775 | $ 88,180 |
Recorded Investment | 51,271 | 87,983 |
Allowance for loan and lease losses | $ 4,120 | $ 5,707 |
Coverage | 8.00% | 6.00% |
Auto impaired loan pool. | Acquired BBVAPR Accounted under ASC 310-30 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 107,358 | $ 153,592 |
Recorded Investment | 100,475 | 153,592 |
Allowance for loan and lease losses | $ 5,157 | $ 2,862 |
Coverage | 5.00% | 2.00% |
Consumer impaired loan pool. | Eurobank Acquired Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 0 | $ 6,713 |
Recorded Investment | 1,488 | 2,314 |
Allowance for loan and lease losses | $ 0 | $ 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 | $ 83,216 | $ 101,444 |
Recorded Investment | 70,337 | 92,273 |
Allowance for loan and lease losses | $ 12,268 | $ 22,570 |
Coverage | 17.00% | 24.00% |
Commercial and Other Construction Loan [Member] | Eurobank Acquired Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 57,889 | $ 133,148 |
Recorded Investment | 53,445 | 142,377 |
Allowance for loan and lease losses | $ 10,544 | $ 67,365 |
Coverage | 20.00% | 47.00% |
Loans Receivable (Interest Inco
Loans Receivable (Interest Income Recognized in loans individually evaluated for impairment) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Loan [Member] | ||||
Impaired Financing Receivable Interest Income Accrual Method [Abstract] | ||||
Total Interest Income | $ 1,201 | $ 1,190 | $ 3,317 | $ 3,181 |
Impaired Financing Receivable Average Recorded Investment [Abstract] | ||||
Total Average Recorded Investment | 229,295 | 330,124 | 288,869 | 333,424 |
Originated Loans [Member] | ||||
Impaired Financing Receivable Interest Income Accrual Method [Abstract] | ||||
Total Interest Income | 1,186 | 1,190 | 3,272 | 3,181 |
Impaired Financing Receivable Average Recorded Investment [Abstract] | ||||
Total Average Recorded Investment | 228,020 | 329,047 | 288,025 | 331,783 |
Most recent acquired loans accounted for under ASC 310-20 [Member] | ||||
Impaired Financing Receivable Interest Income Accrual Method [Abstract] | ||||
Total Interest Income | 15 | 0 | 45 | 0 |
Impaired Financing Receivable Average Recorded Investment [Abstract] | ||||
Total Average Recorded Investment | 1,275 | 1,077 | 844 | 1,641 |
Commercial Loan [Member] | Originated Loans [Member] | ||||
Impaired Financing Receivable Interest Income Accrual Method [Abstract] | ||||
Impaired Financing Receivable With Related Allowance Interest Income Accrual Method | 162 | 37 | 202 | 73 |
Impaired Financing Receivable With No Related Allowance Interest Income Accrual Method | 259 | 365 | 749 | 727 |
Impaired Financing Receivable Average Recorded Investment [Abstract] | ||||
Impaired Financing Receivable With Related Allowance Average Recorded Investment | 73,729 | 207,610 | 155,094 | 166,633 |
Impaired Financing Receivable With No Related Allowance Average Recorded Investment | 62,946 | 31,159 | 42,050 | 74,247 |
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 Related Allowance Interest Income Accrual Method | 15 | 0 | 45 | 0 |
Impaired Financing Receivable With No Related Allowance Interest Income Accrual Method | 0 | 0 | 0 | 0 |
Impaired Financing Receivable Average Recorded Investment [Abstract] | ||||
Impaired Financing Receivable With Related Allowance Average Recorded Investment | 323 | 0 | 108 | 0 |
Impaired Financing Receivable With No Related Allowance Average Recorded Investment | 952 | 1,077 | 736 | 1,641 |
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 | 765 | 788 | 2,321 | 2,381 |
Impaired Financing Receivable Average Recorded Investment [Abstract] | ||||
Impaired Financing Receivable With Related Allowance Average Recorded Investment | $ 91,345 | $ 90,278 | $ 90,881 | $ 90,903 |
Loans Receivable (TDR Pre_Post
Loans Receivable (TDR Pre/Post Modifications) (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016USD ($)number | Sep. 30, 2015USD ($)number | Sep. 30, 2016USD ($)number | Sep. 30, 2015USD ($)number | |
Mortgage Loan [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of contracts | number | 20 | 30 | 72 | 127 |
Financing Receivable Modifications Pre Modification Recorded Investment | $ 2,737 | $ 3,846 | $ 9,558 | $ 15,455 |
Pre Modification Weighted Average Rate | 6.28% | 6.34% | 6.00% | 5.07% |
Pre Modification Weighted Average Term | 297 months | 338 months | 347 months | 346 months |
Financing Receivable Modifications Post Modification Recorded Investment | $ 2,768 | $ 3,992 | $ 9,284 | $ 15,586 |
Post Modification Weighted Average Rate | 4.72% | 4.45% | 4.69% | 4.21% |
Post Modification Weighted Average Term | 387 months | 180 months | 462 months | 306 months |
Commercial Loan [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of contracts | number | 5 | 3 | 13 | 7 |
Financing Receivable Modifications Pre Modification Recorded Investment | $ 7,352 | $ 1,001 | $ 8,675 | $ 5,534 |
Pre Modification Weighted Average Rate | 5.31% | 6.50% | 5.53% | 6.77% |
Pre Modification Weighted Average Term | 65 months | 12 months | 63 months | 67 months |
Financing Receivable Modifications Post Modification Recorded Investment | $ 7,352 | $ 8,511 | $ 8,676 | $ 13,045 |
Post Modification Weighted Average Rate | 5.89% | 3.19% | 5.95% | 4.52% |
Post Modification Weighted Average Term | 130 months | 12 months | 120 months | 57 months |
Consumer Loan [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of contracts | number | 20 | 27 | 67 | 59 |
Financing Receivable Modifications Pre Modification Recorded Investment | $ 183 | $ 170 | $ 739 | $ 567 |
Pre Modification Weighted Average Rate | 14.73% | 12.41% | 13.63% | 13.87% |
Pre Modification Weighted Average Term | 72 months | 70 months | 74 months | 71 months |
Financing Receivable Modifications Post Modification Recorded Investment | $ 210 | $ 400 | $ 813 | $ 840 |
Post Modification Weighted Average Rate | 12.72% | 12.32% | 11.12% | 13.33% |
Post Modification Weighted Average Term | 54 months | 52 months | 67 months | 60 months |
Auto Loan [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of contracts | number | 0 | 1 | ||
Financing Receivable Modifications Pre Modification Recorded Investment | $ 0 | $ 64 | ||
Pre Modification Weighted Average Rate | 0.00% | 12.95% | ||
Pre Modification Weighted Average Term | 0 months | 72 months | ||
Financing Receivable Modifications Post Modification Recorded Investment | $ 0 | $ 65 | ||
Post Modification Weighted Average Rate | 0.00% | 12.95% | ||
Post Modification Weighted Average Term | 0 months | 72 months |
Loans Receivable (Troubled debt
Loans Receivable (Troubled debt restructurings, Rolling Twelve Months) (Details) $ in Thousands | 12 Months Ended | |
Sep. 30, 2016USD ($)number | Sep. 30, 2015USD ($)number | |
Mortgage Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | number | 23 | 49 |
Recored Investment | $ | $ 3,437 | $ 5,396 |
Commercial Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | number | 2 | 0 |
Recored Investment | $ | $ 157 | $ 0 |
Consumer Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | number | 7 | 8 |
Recored Investment | $ | $ 68 | $ 177 |
Auto [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | number | 0 | 1 |
Recored Investment | $ | $ 0 | $ 64 |
Loans Receivable (Credit Qualit
Loans Receivable (Credit Quality Indicator of loans) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 4,263,057 | $ 4,650,527 |
Financing Receivable, Individually Evaluated for Impairment | 36,601 | 235,767 |
Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 3,011,799 | 3,111,590 |
Doubtful | 0 | |
Financing Receivable, Individually Evaluated for Impairment | 128,712 | 325,267 |
Commercial Secured [Member] | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 773,156 | 728,956 |
Pass | 693,967 | 657,623 |
Special Mention | 45,013 | 32,780 |
Substandard | 4,952 | 5,097 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 29,224 | 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 | 2,632 | 3,117 |
Pass | 1,899 | 602 |
Special Mention | 356 | 1,820 |
Substandard | 150 | 228 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 227 | 467 |
Corporate | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 240,458 | 227,557 |
Pass | 225,559 | 212,410 |
Special Mention | 14,899 | 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 | 28,760 | 33,807 |
Pass | 25,745 | 25,907 |
Special Mention | 0 | 0 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 3,015 | 7,900 |
Middle Market | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 236,813 | 206,948 |
Pass | 200,191 | 181,916 |
Special Mention | 23,628 | 9,697 |
Substandard | 517 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 12,477 | 15,335 |
Retail | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 248,549 | 241,090 |
Pass | 224,865 | 217,836 |
Special Mention | 6,486 | 7,936 |
Substandard | 4,435 | 5,097 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 12,763 | 10,221 |
Retail | Commercial Acquired loans (under ASC 310-20) [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 150 | 228 |
Pass | 0 | 0 |
Special Mention | 0 | 0 |
Substandard | 150 | 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 | 2,793 | 2,892 |
Pass | 1,824 | 2,892 |
Special Mention | 0 | 0 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 969 | 0 |
Floor Plan | Commercial Acquired loans (under ASC 310-20) [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 2,482 | 2,889 |
Pass | 1,899 | 602 |
Special Mention | 356 | 1,820 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 227 | 467 |
Real Estate | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 15,783 | 16,662 |
Pass | 15,783 | 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 | 494,021 | 712,693 |
Pass | 475,746 | 498,428 |
Special Mention | 9,560 | 11,243 |
Substandard | 1,570 | 1,184 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 7,145 | 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 | 3,123 | 4,340 |
Pass | 3,096 | 4,246 |
Special Mention | 0 | 0 |
Substandard | 24 | 87 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 3 | 7 |
Corporate | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 126,325 | 108,582 |
Pass | 126,325 | 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 | 174,833 | 380,985 |
Pass | 172,749 | 190,695 |
Special Mention | 239 | 0 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 1,845 | 190,290 |
Middle Market | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 86,699 | 107,313 |
Pass | 80,606 | 97,288 |
Special Mention | 4,582 | 8,052 |
Substandard | 161 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 1,350 | 1,973 |
Retail | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 73,945 | 77,797 |
Pass | 68,670 | 73,757 |
Special Mention | 863 | 1,076 |
Substandard | 1,328 | 1,184 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 3,084 | 1,780 |
Retail | Commercial Acquired loans (under ASC 310-20) [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 3,120 | 3,724 |
Pass | 3,096 | 3,637 |
Special Mention | 0 | 0 |
Substandard | 24 | 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 | 32,219 | 38,016 |
Pass | 27,396 | 35,862 |
Special Mention | 3,876 | 2,115 |
Substandard | 81 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 866 | 39 |
Floor Plan | Commercial Acquired loans (under ASC 310-20) [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 3 | 616 |
Pass | 0 | 609 |
Special Mention | 0 | 0 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 3 | 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 | 1,272,932 | 1,449,106 |
Pass | 1,174,708 | 1,160,899 |
Special Mention | 54,929 | 45,843 |
Substandard | 6,696 | 6,596 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 36,599 | 235,768 |
Total Commercial subject to risk rating [Member] | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 1,267,177 | 1,441,649 |
Pass | 1,169,713 | 1,156,051 |
Special Mention | 54,573 | 44,023 |
Substandard | 6,522 | 6,281 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 36,369 | 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 | 5,755 | 7,457 |
Pass | 4,995 | 4,848 |
Special Mention | 356 | 1,820 |
Substandard | 174 | 315 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | $ 230 | $ 474 |
Loans Receivable (Risk category
Loans Receivable (Risk category of gross loans not subject to risk rating ) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Not Subject To Risk Rating [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 4,263,057 | $ 4,650,527 |
Financing Receivable, Individually Evaluated for Impairment | 36,601 | 235,767 |
Loans, Not Subject To Risk Ratings [Member] | ||
Not Subject To Risk Rating [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 1,843,230 | 1,815,237 |
0 - 29 Days Past Due | 1,585,871 | 1,541,282 |
30 - 59 Days Past Due | 57,562 | 70,443 |
60 - 89 Days Past Due | 40,054 | 39,648 |
90-119 Days Past Due | 16,443 | 14,727 |
120 - 364 Days Past Due | 19,261 | 22,412 |
365+ Days Past Due | 31,696 | 36,752 |
Financing Receivable, Individually Evaluated for Impairment | 92,343 | 89,973 |
Originated loans, not subject to risk rating [Member] | ||
Not Subject To Risk Rating [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 1,744,622 | 1,669,941 |
0 - 29 Days Past Due | 1,496,015 | 1,408,542 |
30 - 59 Days Past Due | 52,319 | 61,946 |
60 - 89 Days Past Due | 37,988 | 36,956 |
90-119 Days Past Due | 15,595 | 13,917 |
120 - 364 Days Past Due | 18,666 | 21,855 |
365+ Days Past Due | 31,696 | 36,752 |
Financing Receivable, Individually Evaluated for Impairment | 92,343 | 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 | 735,367 | 757,828 |
0 - 29 Days Past Due | 566,770 | 580,214 |
30 - 59 Days Past Due | 2,903 | 5,642 |
60 - 89 Days Past Due | 17,306 | 18,811 |
90-119 Days Past Due | 8,387 | 7,390 |
120 - 364 Days Past Due | 15,965 | 19,046 |
365+ Days Past Due | 31,693 | 36,752 |
Financing Receivable, Individually Evaluated for Impairment | 92,343 | 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 | 596,675 | 618,005 |
0 - 29 Days Past Due | 529,404 | 540,340 |
30 - 59 Days Past Due | 817 | 1,469 |
60 - 89 Days Past Due | 15,407 | 15,857 |
90-119 Days Past Due | 5,365 | 4,518 |
120 - 364 Days Past Due | 8,763 | 11,055 |
365+ Days Past Due | 21,540 | 29,535 |
Financing Receivable, Individually Evaluated for Impairment | 15,379 | 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 | 52,446 | 57,789 |
0 - 29 Days Past Due | 46,884 | 50,912 |
30 - 59 Days Past Due | 0 | 82 |
60 - 89 Days Past Due | 1,607 | 2,218 |
90-119 Days Past Due | 304 | 530 |
120 - 364 Days Past Due | 1,296 | 1,504 |
365+ Days Past Due | 1,646 | 1,858 |
Financing Receivable, Individually Evaluated for Impairment | 709 | 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 | 92,909 | 99,446 |
0 - 29 Days Past Due | 81,218 | 87,060 |
30 - 59 Days Past Due | 0 | 251 |
60 - 89 Days Past Due | 4,003 | 4,867 |
90-119 Days Past Due | 1,492 | 1,261 |
120 - 364 Days Past Due | 1,806 | 1,353 |
365+ Days Past Due | 2,442 | 2,921 |
Financing Receivable, Individually Evaluated for Impairment | 1,948 | 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 | 50,682 | 54,221 |
0 - 29 Days Past Due | 44,294 | 47,197 |
30 - 59 Days Past Due | 123 | 79 |
60 - 89 Days Past Due | 1,810 | 2,553 |
90-119 Days Past Due | 790 | 292 |
120 - 364 Days Past Due | 910 | 1,068 |
365+ Days Past Due | 1,797 | 2,189 |
Financing Receivable, Individually Evaluated for Impairment | 958 | 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 | 71,939 | 78,403 |
0 - 29 Days Past Due | 58,195 | 63,659 |
30 - 59 Days Past Due | 231 | 318 |
60 - 89 Days Past Due | 3,380 | 2,878 |
90-119 Days Past Due | 955 | 1,168 |
120 - 364 Days Past Due | 1,283 | 1,895 |
365+ Days Past Due | 4,173 | 4,871 |
Financing Receivable, Individually Evaluated for Impairment | 3,722 | 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 | 80,847 | 91,546 |
0 - 29 Days Past Due | 64,798 | 71,439 |
30 - 59 Days Past Due | 171 | 170 |
60 - 89 Days Past Due | 1,779 | 1,665 |
90-119 Days Past Due | 863 | 685 |
120 - 364 Days Past Due | 2,212 | 2,972 |
365+ Days Past Due | 7,068 | 10,725 |
Financing Receivable, Individually Evaluated for Impairment | 3,956 | 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 | 143,436 | 150,744 |
0 - 29 Days Past Due | 131,227 | 134,945 |
30 - 59 Days Past Due | 292 | 569 |
60 - 89 Days Past Due | 2,398 | 1,611 |
90-119 Days Past Due | 717 | 434 |
120 - 364 Days Past Due | 809 | 1,982 |
365+ Days Past Due | 3,954 | 6,737 |
Financing Receivable, Individually Evaluated for Impairment | 4,039 | 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 | 104,416 | 85,856 |
0 - 29 Days Past Due | 102,788 | 85,128 |
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 430 | 65 |
90-119 Days Past Due | 244 | 148 |
120 - 364 Days Past Due | 447 | 281 |
365+ Days Past Due | 460 | 234 |
Financing Receivable, Individually Evaluated for Impairment | 47 | 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 | 24,339 | 29,552 |
0 - 29 Days Past Due | 19,036 | 23,497 |
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 301 | 977 |
90-119 Days Past Due | 0 | 552 |
120 - 364 Days Past Due | 1,904 | 2,621 |
365+ Days Past Due | 3,098 | 1,905 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Originated loans, not subject to risk rating [Member] | Loss Mitigation Program [Member] | ||
Not Subject To Risk Rating [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 104,416 | 101,916 |
0 - 29 Days Past Due | 17,991 | 16,031 |
30 - 59 Days Past Due | 2,086 | 4,173 |
60 - 89 Days Past Due | 1,598 | 1,977 |
90-119 Days Past Due | 1,150 | 727 |
120 - 364 Days Past Due | 1,233 | 1,728 |
365+ Days Past Due | 3,394 | 2,538 |
Financing Receivable, Individually Evaluated for Impairment | 76,964 | 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 | 339 | 410 |
0 - 29 Days Past Due | 339 | 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 | 9,598 | 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 | 1,872 | 1,593 |
120 - 364 Days Past Due | 4,065 | 3,578 |
365+ Days Past Due | 3,661 | 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 | 278,666 | 242,950 |
0 - 29 Days Past Due | 272,365 | 237,846 |
30 - 59 Days Past Due | 2,852 | 2,755 |
60 - 89 Days Past Due | 1,944 | 1,306 |
90-119 Days Past Due | 1,193 | 819 |
120 - 364 Days Past Due | 309 | 224 |
365+ Days Past Due | 3 | 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 | 25,464 | 22,766 |
0 - 29 Days Past Due | 24,204 | 21,766 |
30 - 59 Days Past Due | 486 | 449 |
60 - 89 Days Past Due | 264 | 182 |
90-119 Days Past Due | 251 | 179 |
120 - 364 Days Past Due | 259 | 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 | 196 | 190 |
0 - 29 Days Past Due | 178 | 166 |
30 - 59 Days Past Due | 12 | 24 |
60 - 89 Days Past Due | 3 | 0 |
90-119 Days Past Due | 2 | 0 |
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] | Unsecured personal lines of credit [Member] | ||
Not Subject To Risk Rating [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 2,292 | 2,244 |
0 - 29 Days Past Due | 2,199 | 2,125 |
30 - 59 Days Past Due | 38 | 74 |
60 - 89 Days Past Due | 18 | 0 |
90-119 Days Past Due | 21 | 17 |
120 - 364 Days Past Due | 13 | 28 |
365+ Days Past Due | 3 | 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 | 234,995 | 201,156 |
0 - 29 Days Past Due | 230,259 | 197,339 |
30 - 59 Days Past Due | 2,154 | 2,083 |
60 - 89 Days Past Due | 1,657 | 1,107 |
90-119 Days Past Due | 889 | 621 |
120 - 364 Days Past Due | 36 | 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 | 15,719 | 16,594 |
0 - 29 Days Past Due | 15,525 | 16,450 |
30 - 59 Days Past Due | 162 | 125 |
60 - 89 Days Past Due | 2 | 17 |
90-119 Days Past Due | 30 | 2 |
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] | Auto and Leasing [Member] | ||
Not Subject To Risk Rating [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 730,589 | 669,163 |
0 - 29 Days Past Due | 656,880 | 590,482 |
30 - 59 Days Past Due | 46,564 | 53,549 |
60 - 89 Days Past Due | 18,738 | 16,839 |
90-119 Days Past Due | 6,015 | 5,708 |
120 - 364 Days Past Due | 2,392 | 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 | 98,608 | 145,296 |
0 - 29 Days Past Due | 89,856 | 132,740 |
30 - 59 Days Past Due | 5,243 | 8,497 |
60 - 89 Days Past Due | 2,066 | 2,692 |
90-119 Days Past Due | 848 | 810 |
120 - 364 Days Past Due | 595 | 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 | 34,215 | 38,385 |
0 - 29 Days Past Due | 32,131 | 36,493 |
30 - 59 Days Past Due | 922 | 944 |
60 - 89 Days Past Due | 458 | 413 |
90-119 Days Past Due | 260 | 187 |
120 - 364 Days Past Due | 444 | 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 | 31,363 | 35,217 |
0 - 29 Days Past Due | 29,452 | 33,414 |
30 - 59 Days Past Due | 827 | 930 |
60 - 89 Days Past Due | 443 | 384 |
90-119 Days Past Due | 238 | 186 |
120 - 364 Days Past Due | 403 | 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 | 2,852 | 3,168 |
0 - 29 Days Past Due | 2,679 | 3,079 |
30 - 59 Days Past Due | 95 | 14 |
60 - 89 Days Past Due | 15 | 29 |
90-119 Days Past Due | 22 | 1 |
120 - 364 Days Past Due | 41 | 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 | 64,393 | 106,911 |
0 - 29 Days Past Due | 57,725 | 96,247 |
30 - 59 Days Past Due | 4,321 | 7,553 |
60 - 89 Days Past Due | 1,608 | 2,279 |
90-119 Days Past Due | 588 | 623 |
120 - 364 Days Past Due | 151 | 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 | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans And Leases Receivable Allowance, Covered | $ 12,300,000 | $ 12,300,000 | $ 22,600,000 | ||
Provision (recapture) for Loan Losses, Covered | (893,000) | $ (15,800,000) | 1,100,000 | $ 20,500,000 | |
Allowance de-recognition due to change in policy from most recent acquisition | 8,900,000 | ||||
Allowance de-recognition due to change in policy from loans acquired acquisition | 73,100,000 | ||||
PREPA Line of Credit Sold Charge-off | 56,200,000 | 56,200,000 | |||
PREPA Line of Credit Sold Provision | $ 2,900,000 | $ 2,900,000 |
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 | Sep. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | $ 119,012 | $ 234,131 |
Originated Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 62,168 | 112,626 |
Originated Loan [Member] | Mortgage Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 18,527 | 18,352 |
Originated Loan [Member] | Commercial Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 12,307 | 64,791 |
Originated Loan [Member] | Consumer Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 12,289 | 11,197 |
Originated Loan [Member] | Auto and Leasing [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 19,002 | 18,261 |
Originated Loan [Member] | Unallocated [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 43 | 25 |
Acquired loans [Member] | Acquired BBVAPR loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 34,032 | 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 | 2,664 | 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 | 22,016 | 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 | 2,946 | 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 | 6,406 | 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 | 4,213 | 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 | 18 | 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 | 2,946 | 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 | 1,249 | 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 | 29,819 | 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 | 2,664 | 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 | 21,998 | 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 | 5,157 | 2,862 |
Acquired loans [Member] | Eurobank Acquired Loans | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 22,812 | 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 | 0 | 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 | 12,268 | 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 | $ 10,544 | $ 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 | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Provision For Loan And Lease Losses | $ 23,469 | $ 51,579 | $ 51,703 | $ 109,311 |
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 | 4,213 | 4,213 | ||
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 | 18 | 18 | ||
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 | 2,946 | 2,946 | ||
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 | 29,819 | 29,819 | ||
Acquired BBVAPR accounted under ASC 310-30 [Member] | Mortgage Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at end of period | 2,664 | 2,664 | ||
Acquired BBVAPR accounted under ASC 310-30 [Member] | Commercial Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at end of period | 21,998 | 21,998 | ||
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 | 5,157 | 5,157 | ||
Originated Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 112,812 | 78,989 | 112,626 | 51,439 |
Charge-offs | 69,333 | 12,867 | 95,813 | 36,909 |
Recoveries | 3,981 | 3,770 | 10,935 | 11,499 |
Provision For Loan And Lease Losses | 14,708 | 10,459 | 34,420 | 54,322 |
Balance at end of period | 62,168 | 80,351 | 62,168 | 80,351 |
Originated Loan [Member] | Mortgage Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 18,537 | 18,076 | 18,352 | 19,679 |
Charge-offs | 1,656 | 1,058 | 4,692 | 3,829 |
Recoveries | 21 | 270 | 204 | 338 |
Provision For Loan And Lease Losses | 1,625 | 4 | 4,663 | 1,104 |
Balance at end of period | 18,527 | 17,292 | 18,527 | 17,292 |
Originated Loan [Member] | Commercial Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 63,144 | 34,779 | 64,791 | 8,432 |
Charge-offs | 56,700 | 828 | 58,544 | 2,317 |
Recoveries | 93 | 63 | 407 | 372 |
Provision For Loan And Lease Losses | 5,770 | 1,510 | 5,653 | 29,037 |
Balance at end of period | 12,307 | 35,524 | 12,307 | 35,524 |
Originated Loan [Member] | Consumer Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 11,771 | 10,464 | 11,197 | 9,072 |
Charge-offs | 3,173 | 2,471 | 8,310 | 6,456 |
Recoveries | 120 | 186 | 355 | 729 |
Provision For Loan And Lease Losses | 3,571 | 2,637 | 9,047 | 7,471 |
Balance at end of period | 12,289 | 10,816 | 12,289 | 10,816 |
Originated Loan [Member] | Leasing | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 19,259 | 15,064 | 18,261 | 14,255 |
Charge-offs | 7,804 | 8,510 | 24,267 | 24,307 |
Recoveries | 3,747 | 3,251 | 9,969 | 10,060 |
Provision For Loan And Lease Losses | 3,800 | 6,869 | 15,039 | 16,666 |
Balance at end of period | 19,002 | 16,674 | 19,002 | 16,674 |
Originated Loan [Member] | Unallocated Financing Receivables | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 101 | 606 | 25 | 1 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision For Loan And Lease Losses | (58) | (561) | 18 | 44 |
Balance at end of period | 43 | 45 | 43 | 45 |
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 | 4,487 | 5,529 | 5,542 | 4,597 |
Charge-offs | 1,366 | 2,275 | 4,518 | 7,281 |
Recoveries | 544 | 568 | 1,797 | 2,220 |
Provision For Loan And Lease Losses | 548 | 1,651 | 1,392 | 5,937 |
Balance at end of period | 4,213 | 5,473 | 4,213 | 5,473 |
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 | 21 | 54 | 26 | 65 |
Charge-offs | 2 | 22 | 21 | 38 |
Recoveries | 16 | 7 | 56 | 24 |
Provision For Loan And Lease Losses | (17) | (17) | (43) | (29) |
Balance at end of period | 18 | 22 | 18 | 22 |
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 | 3,002 | 2,616 | 3,429 | 1,211 |
Charge-offs | 889 | 1,103 | 2,714 | 3,789 |
Recoveries | 67 | 59 | 236 | 622 |
Provision For Loan And Lease Losses | 766 | 1,485 | 1,995 | 5,013 |
Balance at end of period | 2,946 | 3,057 | 2,946 | 3,057 |
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 | 1,464 | 2,859 | 2,087 | 3,321 |
Charge-offs | 475 | 1,150 | 1,783 | 3,454 |
Recoveries | 461 | 502 | 1,505 | 1,574 |
Provision For Loan And Lease Losses | (201) | 183 | (560) | 953 |
Balance at end of period | 1,249 | 2,394 | 1,249 | 2,394 |
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 | 22,801 | 18,359 | 25,785 | 13,481 |
Charge-offs | 4,352 | 282 | 4,352 | |
Provision For Loan And Lease Losses | 7,403 | 5,979 | 13,245 | 10,857 |
Allowance de-recognition from new policy | (385) | (8,929) | ||
Balance at end of period | 29,819 | 19,986 | 29,819 | 19,986 |
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 | 1,585 | 473 | 1,678 | 0 |
Charge-offs | 0 | 14 | 0 | |
Provision For Loan And Lease Losses | 1,079 | 0 | 1,000 | 473 |
Allowance de-recognition from new policy | 0 | 0 | ||
Balance at end of period | 2,664 | 473 | 2,664 | 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 | 15,863 | 14,940 | 21,245 | 13,476 |
Charge-offs | 4,352 | 66 | 4,352 | |
Provision For Loan And Lease Losses | 6,324 | 5,979 | 9,552 | 7,443 |
Allowance de-recognition from new policy | (189) | (8,733) | ||
Balance at end of period | 21,998 | 16,567 | 21,998 | 16,567 |
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 | 84 | 0 | 5 |
Charge-offs | 0 | 0 | 0 | |
Provision For Loan And Lease Losses | 0 | 0 | 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 | 5,353 | 2,862 | 2,862 | 0 |
Charge-offs | 0 | 202 | 0 | |
Provision For Loan And Lease Losses | 0 | 0 | 2,693 | 2,862 |
Allowance de-recognition from new policy | (196) | (196) | ||
Balance at end of period | $ 5,157 | $ 2,862 | $ 5,157 | $ 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 | Sep. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable, Individually Evaluated for Impairment | $ 36,601 | $ 235,767 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 4,263,057 | 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 | 4,213 | 5,542 | $ 5,473 | |||
Financing Receivable, Allowance for Credit Losses | 4,213 | 5,542 | ||||
Financing Receivable, Individually Evaluated for Impairment | 0 | 474 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 104,363 | 152,279 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 104,363 | 152,753 | ||||
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Commercial Loan [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 18 | 26 | 22 | |||
Financing Receivable, Allowance for Credit Losses | 18 | 26 | ||||
Financing Receivable, Individually Evaluated for Impairment | 0 | 474 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 5,755 | 6,983 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 5,755 | 7,457 | ||||
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Consumer Loan [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 2,946 | 3,429 | 3,057 | |||
Financing Receivable, Allowance for Credit Losses | 2,946 | 3,429 | ||||
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 34,215 | 38,385 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 34,215 | 38,385 | ||||
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Auotomobile Loans Portfolio Segment | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 1,249 | 2,087 | 2,394 | |||
Financing Receivable, Allowance for Credit Losses | 1,249 | 2,087 | ||||
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 64,393 | 106,911 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 64,393 | 106,911 | ||||
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Unallocated Financing Receivables | ||||||
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 | ||||
Acquired BBVAPR accounted under ASC 310-30 [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable, Allowance for Credit Losses | 29,819 | |||||
Acquired BBVAPR accounted under ASC 310-30 [Member] | Mortgage Loan [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable, Allowance for Credit Losses | 2,664 | |||||
Acquired BBVAPR accounted under ASC 310-30 [Member] | Commercial Loan [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable, Allowance for Credit Losses | 21,998 | |||||
Acquired BBVAPR accounted under ASC 310-30 [Member] | Consumer Loan [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable, Allowance for Credit Losses | 0 | |||||
Originated Loan [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 14,297 | 65,180 | ||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 47,871 | 47,446 | ||||
Financing Receivable, Allowance for Credit Losses | 62,168 | $ 112,812 | 112,626 | 80,351 | $ 78,989 | $ 51,439 |
Financing Receivable, Individually Evaluated for Impairment | 128,712 | 325,267 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 2,883,087 | 2,786,323 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 3,011,799 | 3,111,590 | ||||
Originated Loan [Member] | Mortgage Loan [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 8,725 | 9,233 | ||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 9,802 | 9,119 | ||||
Financing Receivable, Allowance for Credit Losses | 18,527 | 18,537 | 18,352 | 17,292 | 18,076 | 19,679 |
Financing Receivable, Individually Evaluated for Impairment | 92,343 | 89,973 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 643,024 | 667,855 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 735,367 | 757,828 | ||||
Originated Loan [Member] | Commercial Loan [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 5,572 | 55,947 | ||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 6,735 | 8,844 | ||||
Financing Receivable, Allowance for Credit Losses | 12,307 | 63,144 | 64,791 | 35,524 | 34,779 | 8,432 |
Financing Receivable, Individually Evaluated for Impairment | 36,369 | 235,294 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 1,230,808 | 1,206,355 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 1,267,177 | 1,441,649 | ||||
Originated Loan [Member] | Consumer 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 | 12,289 | 11,197 | ||||
Financing Receivable, Allowance for Credit Losses | 12,289 | 11,771 | 11,197 | 10,816 | 10,464 | 9,072 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 278,666 | 242,950 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 278,666 | 242,950 | ||||
Originated Loan [Member] | Auto and Leasing [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 | 19,002 | 18,261 | ||||
Financing Receivable, Allowance for Credit Losses | 19,002 | 19,259 | 18,261 | 16,674 | 15,064 | 14,255 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 730,589 | 669,163 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 730,589 | 669,163 | ||||
Originated Loan [Member] | Unallocated Financing Receivables | ||||||
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 | 43 | 25 | ||||
Financing Receivable, Allowance for Credit Losses | 43 | $ 101 | 25 | $ 45 | $ 606 | $ 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 | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Loan Receivable Type | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at beginning of period | $ 22,116 | $ 71,452 | $ 90,178 | $ 64,245 |
Provision for loan and lease losses, net | 819 | 33,490 | 2,655 | 38,194 |
Charge-offs | 14,610 | 134 | 14,610 | |
FDIC Indemnification Asset Additional Estimated Losses Recoveries | 818 | 3,213 | 2,503 | |
Allowance de-recognition from new policy | (941) | (73,100) | ||
Balance at end of period | 22,812 | 90,332 | 22,812 | 90,332 |
Loans secured by 1-4 family residential properties, covered [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at beginning of period | 11,016 | 17,593 | 22,570 | 15,522 |
Provision for loan and lease losses, net | 893 | 15,813 | 1,077 | 17,779 |
Charge-offs | 721 | 0 | 721 | |
FDIC Indemnification Asset Additional Estimated Losses Recoveries | 818 | 3,213 | 105 | |
Allowance de-recognition from new policy | (459) | (14,592) | ||
Balance at end of period | 12,268 | 32,685 | 12,268 | 32,685 |
Commercial and Construction | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at beginning of period | 11,096 | 53,470 | 67,365 | 48,334 |
Provision for loan and lease losses, net | (74) | 17,398 | 1,585 | 20,136 |
Charge-offs | 13,588 | 134 | 13,588 | |
FDIC Indemnification Asset Additional Estimated Losses Recoveries | 0 | 0 | 2,398 | |
Allowance de-recognition from new policy | (478) | (58,272) | ||
Balance at end of period | 10,544 | 57,280 | 10,544 | 57,280 |
Consumer Loan [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at beginning of period | 4 | 389 | 243 | 389 |
Provision for loan and lease losses, net | 0 | 279 | (7) | 279 |
Charge-offs | 301 | 0 | 301 | |
FDIC Indemnification Asset Additional Estimated Losses Recoveries | 0 | 0 | 0 | |
Allowance de-recognition from new policy | (4) | (236) | ||
Balance at end of period | $ 0 | $ 367 | $ 0 | $ 367 |
FDIC Indemnification Indemnific
FDIC Indemnification Indemnification Asset and True-up Payment Obligation (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 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 | $ 278 | |||
FDIC indemnification asset, expense | $ 1,910 | $ 1,215 | $ 6,179 | $ 35,948 |
FDIC Indemnification Asset an77
FDIC Indemnification Asset and True-up Payment Obligation (FDIC Indemnification Asset Roll Forward) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
FDIC Indemnification Asset [Roll Forward] | ||||
Balance | $ 18,426 | $ 22,704 | $ 22,599 | $ 97,378 |
Indemnification agreements reimbursements from FDIC | (87) | 0 | (824) | (17,171) |
Shared-loss agreements reimbursements expected from the FDIC | 0 | 0 | 0 | (20,917) |
Increase (decrease) in expected credit losses to be covered under shared-loss agreements, net | 818 | 0 | 3,213 | 2,503 |
Incurred expenses to be reimbursed under shared-loss agreements | (577) | 1,406 | (2,139) | (2,950) |
FDIC indemnification asset, expense | (1,910) | (1,215) | (6,179) | (35,948) |
Balance | 16,670 | 22,895 | 16,670 | 22,895 |
True-up payment obligation [Roll Forward] | ||||
Balance | 25,771 | 23,577 | 24,658 | 21,981 |
Change in true-up payment obligation expense | 508 | 864 | 1,621 | 2,460 |
Balance | $ 26,279 | $ 24,441 | $ 26,279 | $ 24,441 |
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 | Sep. 30, 2016 | Dec. 31, 2015 |
FDIC-Assisted Acquisition [Abstract] | ||
Business Combination Contingent Consideration Liability | $ 26,279 | $ 24,658 |
Business Combination Contingent Consideration Potential Cash Payment | $ 33,661 | $ 34,956 |
FDIC Indemnification Asset an79
FDIC Indemnification Asset and True-up Payment Obligation (FDIC Indemnification Expense) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Fdic Shared Loss Expense [Abstract] | ||||
FDIC indemnification asset, expense | $ (1,910) | $ (1,215) | $ (6,179) | $ (35,948) |
Change in true-up payment obligation expense | (508) | (864) | (1,621) | (2,460) |
Reimbursement to FDIC for recoveries | (878) | 0 | (2,945) | 0 |
FDIC shared-loss expense, net | $ (3,296) | $ (2,079) | $ (10,745) | $ (38,408) |
Premises and Equipment (Details
Premises and Equipment (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Property Plant And Equipment Line Items | ||
Total Premises and Equipment, net | $ 71,105 | $ 74,590 |
Servicing Assets (Narratives) (
Servicing Assets (Narratives) (Details) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Servicing Assets At Fair Value Line Items | |||
Servicing Asset at Fair Value, Amount | $ 8,393 | $ 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 | Sep. 30, 2016USD ($) |
Servicing Asset At Fair Value Amount Roll Forward | |
Fair value | $ 7,455 |
Fair value | $ 8,393 |
Derivative Activities (Narrativ
Derivative Activities (Narratives) (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Unrealized Gain Loss On Derivatives | $ 2,800,000 | $ 4,300,000 |
Notional Amount Purchased Option | 3,400,000 | |
Embedded Derivative, Fair Value of Embedded Derivative Liability | 1,100,000 | |
Derivative Assets | 1,503,000 | 3,025,000 |
Derivative Liabilities | 4,306,000 | 6,162,000 |
Notional Amount Embedded Option | 3,200,000 | |
Interest Rate Cap [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Derivative Assets | 22,000 | 32,000 |
Derivative Liabilities | 22,000 | 32,000 |
Derivative, Notional Amount | 124,400,000 | 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 | 0 | 1,170,000 |
Designated as Hedging Instrument [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Derivative Liabilities | 2,803,000 | 4,307,000 |
Not Designated as Hedging Instrument [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Derivative Assets | 1,481,000 | 1,819,000 |
Derivative Liabilities | 1,481,000 | 1,819,000 |
Other derivative | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Derivative Assets | 0 | 4,000 |
Derivative Liabilities | $ 0 | $ 4,000 |
Derivative Activities (Derivati
Derivative Activities (Derivative Assets and Liabilities) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Derivative Assets (Liabilities) at Fair Value | ||
Derivative Assets | $ 1,503 | $ 3,025 |
Derivative Liabilities | 4,306 | 6,162 |
Options tied to Standard & Poor 500 Stock Market Index [Member] | ||
Derivative Assets (Liabilities) at Fair Value | ||
Derivative Assets | 0 | 1,170 |
Designated as Hedging Instrument [Member] | ||
Derivative Assets (Liabilities) at Fair Value | ||
Derivative Liabilities | 2,803 | 4,307 |
Not Designated as Hedging Instrument [Member] | ||
Derivative Assets (Liabilities) at Fair Value | ||
Derivative Assets | 1,481 | 1,819 |
Derivative Liabilities | 1,481 | 1,819 |
Interest Rate Cap [Member] | ||
Derivative Assets (Liabilities) at Fair Value | ||
Derivative Assets | 22 | 32 |
Derivative Liabilities | 22 | 32 |
Other derivative | ||
Derivative Assets (Liabilities) at Fair Value | ||
Derivative Assets | 0 | 4 |
Derivative Liabilities | $ 0 | $ 4 |
Derivative Activities (Interest
Derivative Activities (Interest rate swap and their term) (Details) - Interest rate swap designated as cash flow hedges $ in Thousands | 9 Months Ended |
Sep. 30, 2016USD ($) | |
Derivative [Line Items] | |
Notional Amount | $ 36,938 |
Rate 2.4210% [Member] | |
Derivative [Line Items] | |
Notional Amount | $ 36,938 |
Fixed rate | 0.02421% |
Trade Date | Jul. 3, 2013 |
Settlement Date | Jul. 3, 2013 |
Maturity Date | Aug. 1, 2023 |
Derivative Activities (Intere86
Derivative Activities (Interest rate swap not designated as hedging instruments and their term) (Details) - Rate 5.51% [Member] $ in Thousands | 9 Months Ended |
Sep. 30, 2016USD ($) | |
Derivatives Offered to Clients [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, 2009 |
Mirror Image Derivatives [Member] | |
Derivative [Line Items] | |
Notional derivative not designated as an hedging instrument. | $ 12,500 |
Fixed rate | 5.505% |
Settlement Date | Apr. 11, 2019 |
Maturity Date | Apr. 11, 2019 |
Accrued Interest and Other Asse
Accrued Interest and Other Assets (Narratives) (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Other assets [Line Items] | ||
Other prepaid expenses | $ 19,514,000 | $ 11,762,000 |
Prepaid Taxes | 14,100,000 | 7,000,000 |
Other repossessed assets | 3,449,000 | 6,226,000 |
Repossessed auto | 3,100,000 | 5,500,000 |
Mortgage tax credits | 6,277,000 | 6,277,000 |
CoreDepositsMember | Eurobank [Member] | ||
Other assets [Line Items] | ||
Other Intangible Assets | 4,500,000 | 5,300,000 |
Customer Relationships [Member] | ||
Other assets [Line Items] | ||
Other Intangible Assets | $ 2,100,000 | $ 2,500,000 |
Accrued Interest Receivable a88
Accrued Interest Receivable and Other Assets (Accrued Interest)(Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Accounts Receivable Net Abstract | ||
Accrued Interest Receivable On Non Acquired Loans | $ 14,644 | $ 16,020 |
Accrued Investment Income Receivable | 3,322 | 4,617 |
Total Interest Receivable | $ 17,966 | $ 20,637 |
Accrued Interest and Other As89
Accrued Interest and Other Assets (Other assets) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Other asset | ||
Other prepaid expenses | $ 19,514 | $ 11,762 |
Other repossessed assets | 3,449 | 6,226 |
Core deposit intangible and customer relationship intangibles | 6,579 | 7,838 |
Mortgage tax credits | 6,277 | 6,277 |
Investment in Statutory Trust | 1,083 | 1,083 |
Accounts receivable and other assets | 49,733 | 42,786 |
Other assets | $ 86,635 | $ 75,972 |
Deposits and Related Interest90
Deposits and Related Interest (Narratives) (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Deposits [Abstract] | ||
Weighted Average Rate Domestic Deposit | 0.62% | 0.57% |
Puerto Rico Cash & Money Market Fund Deposits | $ 114,800,000 | $ 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 | $ 87,400,000 | $ 81,600,000 |
Time Deposits, $250,000 or More | 371,300,000 | 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 | 0.45% | 0.49% |
Public funds deposit | $ 165,000,000 | $ 99,000,000 |
Public Fund Collateral Investments | 209,300,000 | 410,900,000 |
Accrued Interest, Time Deposits | 1,500,000 | 1,500,000 |
Unamortized deposit discounts | 72,000 | 311,000 |
Bank Overdrafts | 780,000 | 1,500,000 |
Brokered Certificates of Deposits | 515,900,000 | 711,400,000 |
Brokered Money Market Deposit | $ 65,300,000 | 71,600,000 |
Equity indexed option | $ 1,100,000 |
Deposits and Related Interest91
Deposits and Related Interest (Deposits by Components) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Deposits, by Component, Alternative [Abstract] | ||
Noninterest-bearing demand deposit | $ 818,153 | $ 762,009 |
Interest-bearing saving and demand deposits | 2,312,885 | 2,208,180 |
Individual Retirement Account | 267,955 | 268,799 |
Retail certificates of deposists | 549,945 | 441,998 |
Institutional certificates of deposits | 224,672 | 253,791 |
Total Core Deposits | 4,173,610 | 3,934,777 |
Brokered Deposists | 581,161 | 782,974 |
Deposits, Total | $ 4,754,771 | $ 4,717,751 |
Deposits and Related Interest92
Deposits and Related Interest (Interest expense) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Interest Expense Domestic Deposit Liabilities [Abstract] | ||||
Demand and saving deposits | $ 3,035 | $ 2,987 | $ 9,061 | $ 9,469 |
Certificates of Deposits | 4,296 | 3,664 | 12,761 | 10,890 |
Total | $ 7,331 | $ 6,651 | $ 21,822 | $ 20,359 |
Deposits and Related Interest93
Deposits and Related Interest (Maturities of Time Deposits) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Maturities of Time Deposits [Abstract] | ||
Time Deposit Maturities Less Than Three Month | $ 197,615 | $ 474,051 |
Time Deposit Maturities Three To Twelve Month | 592,382 | 501,551 |
Total Time deposits | 789,997 | 975,602 |
Time Deposit Maturities, Year Two | 514,665 | 454,906 |
Time Deposit Maturities, Year Three | 165,838 | 176,406 |
Time Deposit Maturities, Year Four | 42,569 | 32,396 |
Time Deposit Maturities, Year Five | 43,816 | 33,715 |
Certificates of deposit | $ 1,556,885 | $ 1,673,025 |
Borrowings (Narrative) (Details
Borrowings (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Debt Instrument [Line Items] | |||||
New Repurchase Agreement Debt Amount du to Unwind | $ 232,000 | $ 232,000 | |||
Other borrowings | 40 | 40 | $ 1,734 | ||
Subordinated Debt | 36,083 | 36,083 | 102,633 | ||
Gains Losses On Extinguishment Of Debt | 0 | $ 0 | (12,000) | $ 0 | |
Repayments Of Subordinated Debt | 67,000 | ||||
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 | 1,100,000 | $ 1,100,000 | $ 770,600 | ||
Weighted average period remaining maturity of FHLB advances | 12.5 months | 6.3 months | |||
Interest Payable | 293 | $ 293 | |||
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 | Sep. 30, 2016 | Dec. 31, 2015 |
Debt Instrument [Line Items] | ||
Borrowings | $ 800,299 | $ 1,371,534 |
Securities Sold under Agreements to Repurchase [Member] | ||
Debt Instrument [Line Items] | ||
Borrowings | 656,635 | 932,500 |
Fair Value of Underlying Collateral | 705,961 | 1,021,370 |
Securities Sold under Agreements to Repurchase [Member] | Federal Home Loan Bank of NY [Member] | ||
Debt Instrument [Line Items] | ||
Borrowings | 42,135 | 0 |
Fair Value of Underlying Collateral | 44,883 | 0 |
Securities Sold under Agreements to Repurchase [Member] | Jp Morgan Chase Bank Na [Member] | ||
Debt Instrument [Line Items] | ||
Borrowings | 212,500 | 262,500 |
Fair Value of Underlying Collateral | 231,967 | 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 | $ 429,111 | $ 737,887 |
Borrowings (Repurchase Agreemen
Borrowings (Repurchase Agreements) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | |
Debt Instrument [Line Items] | ||
Borrowing Balance | $ 800,299 | $ 1,371,534 |
Securities Sold under Agreements to Repurchase [Member] | ||
Debt Instrument [Line Items] | ||
Borrowing Balance | $ 656,635 | $ 932,500 |
Weighted Average Coupon | 2.57% | |
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 | $ 212,500 | |
Weighted Average Coupon | 1.42% | |
Settlement Date | Dec. 10, 2012 | |
Investment Repurchase Agreement, Repurchase Date | Apr. 29, 2018 | |
Securities Sold under Agreements to Repurchase [Member] | Due Date 10/07/2016 Coupon .57% [Member] | ||
Debt Instrument [Line Items] | ||
Borrowing Balance | $ 21,635 | |
Weighted Average Coupon | 0.57% | |
Settlement Date | Sep. 20, 2016 | |
Investment Repurchase Agreement, Repurchase Date | Oct. 7, 2016 | |
Securities Sold under Agreements to Repurchase [Member] | Due Date 10/07/2016 Coupon .51% [Member] | ||
Debt Instrument [Line Items] | ||
Borrowing Balance | $ 20,500 | |
Weighted Average Coupon | 0.51% | |
Settlement Date | Sep. 30, 2016 | |
Investment Repurchase Agreement, Repurchase Date | Oct. 7, 2016 |
Borrowings (Repurchase Transact
Borrowings (Repurchase Transaction Liability and Market Value of its Underlying Collateral) (Details) - Securities Sold under Agreements to Repurchase [Member] - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Assets Sold Under Agreements To Repurchase Line Items | ||
Assets Sold Under Agreements To Repurchase Repurchase Liability | $ 656,635,000 | $ 932,500,000 |
Assets Sold Under Agreements To Repurchase Interest Rate | 2.57% | 3.10% |
Market value of underlying collateral of a repurchase agreement | $ 705,961,000 | $ 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 | 679,391,000 | 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 | 1,552,000 | 2,131,000 |
US Treasury Securities [Member] | ||
Assets Sold Under Agreements To Repurchase Line Items | ||
Market value of underlying collateral of a repurchase agreement | 25,018,000 | 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 | $ 212,135,000 | $ 30,000,000 |
Assets Sold Under Agreements To Repurchase Interest Rate | 1.31% | 0.70% |
Market value of underlying collateral of a repurchase agreement | $ 197,936,000 | $ 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 | 1.31% | 0.70% |
Market value of underlying collateral of a repurchase agreement | $ 197,936,000 | $ 31,961,000 |
Mturity less than 90 Days Member | 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 | 437,000 | |
Mturity less than 90 Days Member | US Treasury Securities [Member] | ||
Assets Sold Under Agreements To Repurchase Line Items | ||
Market value of underlying collateral of a repurchase agreement | 23,817,000 | |
Maturity over 90 days | ||
Assets Sold Under Agreements To Repurchase Line Items | ||
Assets Sold Under Agreements To Repurchase Repurchase Liability | $ 444,500,000 | $ 902,500,000 |
Assets Sold Under Agreements To Repurchase Interest Rate | 3.17% | 3.18% |
Market value of underlying collateral of a repurchase agreement | $ 483,771,000 | $ 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 | 481,455,000 | 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 | 1,115,000 | 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 | $ 1,201,000 | $ 12,580,000 |
Borrowings (Advances from the F
Borrowings (Advances from the Federal Home Loan Bank) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | |
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 800,299 | $ 1,371,534 |
Federal Home Loan Bank Advances [Member] | ||
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 105,652 | |
FHLB, Weighted Average Interest Rate | 1.61% | |
Federal Home Loan Bank Advances [Member] | October 3, 2016 [Member] | Fifty Millions [Member] | ||
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 36,938 | |
FHLB, Weighted Average Interest Rate | 0.57% | |
Settlement Date | Sep. 1, 2016 | |
Maturity Date | Oct. 3, 2016 | |
Federal Home Loan Bank Advances [Member] | April 3, 2017 [Member] | Four Million [Member] | ||
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 4,091 | |
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 | $ 9,623 | |
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 | Sep. 30, 2016USD ($) |
Debt Instrument [Line Items] | |
Redemption fund - June 30, 2016 | $ 0 |
Total | $ 0 |
Offsetting Arrangements (Assets
Offsetting Arrangements (Assets Offsetting) (Details) - Derivative - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Offsetting Assets [Line Items] | ||
Gross Amount of Recognized Assets | $ 1,503 | $ 3,025 |
Gross amounts Offset in the Statement of Financial Condition | 0 | 0 |
Net Amount of Assets in Statement of Financial Condition | 1,503 | 3,025 |
Financial Instruments | 2,005 | 2,000 |
Cash Collateral Received | 0 | 0 |
Net Amount | $ (502) | $ 1,025 |
Offsetting Arrangement (Liabili
Offsetting Arrangement (Liabilities Offsetting) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Offsetting Liabilities [Line Items] | ||
Gross amount of Recognized Liabilities | $ 660,941 | $ 939,757 |
Gross amount Offset in the Statement of Financial Condition | 0 | 0 |
Net Amount of Liabilities Presented in the Statement of Financial Condition | 660,941 | 939,757 |
Financial Instruments | 705,961 | 1,021,370 |
Cash Collateral Provided | 1,980 | 1,980 |
Net Amount | (47,000) | (83,593) |
Derivative Financial Instruments, Liabilities [Member] | ||
Offsetting Liabilities [Line Items] | ||
Gross amount of Recognized Liabilities | 4,306 | 7,257 |
Gross amount Offset in the Statement of Financial Condition | 0 | 0 |
Net Amount of Liabilities Presented in the Statement of Financial Condition | 4,306 | 7,257 |
Financial Instruments | 0 | 0 |
Cash Collateral Provided | 1,980 | 1,980 |
Net Amount | 2,326 | 5,277 |
Securities Loaned or Sold under Agreements to Repurchase | ||
Offsetting Liabilities [Line Items] | ||
Gross amount of Recognized Liabilities | 656,635 | 932,500 |
Gross amount Offset in the Statement of Financial Condition | 0 | 0 |
Net Amount of Liabilities Presented in the Statement of Financial Condition | 656,635 | 932,500 |
Financial Instruments | 705,961 | 1,021,370 |
Cash Collateral Provided | 0 | 0 |
Net Amount | $ (49,326) | $ (88,870) |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Loans and Leases Receivable, Related Parties [Roll Forward] | ||||
Balance | $ 30,696 | $ 33,318 | $ 31,475 | $ 27,011 |
New loans | 225 | 5,866 | 727 | 13,489 |
Repayments and sales | (2,376) | (7,450) | (3,657) | (8,766) |
Balance | $ 28,545 | $ 31,734 | $ 28,545 | $ 31,734 |
Income Taxes (Narratives) (Deta
Income Taxes (Narratives) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Income Taxes [Abstract] | |||||
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | $ 112,000 | $ 112,000 | $ 175,000 | ||
Deferred Tax Assets, Net | 131,061,000 | 131,061,000 | 145,901,000 | ||
OtherComprehensiveIncomeLossTax | 43,000 | 1,182,000 | |||
Income Tax Expense (Benefit) | 3,627,000 | $ 562,000 | 15,146,000 | $ 2,310,000 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 2,000,000 | 2,000,000 | 2,200,000 | ||
Increase In Unrecognized Tax Benefits | 1,100,000 | 1,100,000 | |||
Decrease In Unrecognized Tax Benefits Is Reasonably Possible | $ 1,300,000 | 1,300,000 | |||
International Banking Entity [Member] | |||||
OtherComprehensiveIncomeLossTax | $ 117,000 | $ 141,000 |
Income Taxes (Components of inc
Income Taxes (Components of income tax expense (benefit)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract | ||||
Deferred Income Tax Expense (Benefit) | $ 15,176 | $ (1,329) | ||
Income Tax Expense (Benefit) | $ 3,627 | $ 562 | $ 15,146 | $ 2,310 |
Income taxes (Effective Income
Income taxes (Effective Income Tax Rate Reconciliation) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
IncomeTaxExpenseBenefitContinuingOperationsIncomeTaxReconciliationAbstract | ||||
Total Income Tax Expense (Benefit) | $ 3,627 | $ 562 | $ 15,146 | $ 2,310 |
Income Taxes (Components of Def
Income Taxes (Components of Deferred Tax Assets) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Components Of Deferred Tax Liabilities Abstract | ||
Deferred Tax Assets, Net | $ 131,061 | $ 145,901 |
Regulatory Capital Requireme107
Regulatory Capital Requirements (Group's and the Bank's actual capital amounts and ratios) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Group [Member] | ||
Capital [Abstract] | ||
Actual - Total capital | $ 860,581 | $ 846,748 |
Actual - Tier 1 capital | 801,882 | 782,912 |
Actual -Common equity tier 1 capital | 612,792 | 594,482 |
Actual - Tier 1 leverage capital | 801,882 | 782,912 |
Minimum Capital - Total Capital | 367,907 | 391,723 |
Minimum capital - Tier 1 capital | 275,930 | 293,792 |
Minimum capital - Common equity tier 1 capital | 206,948 | 220,344 |
Minimum capital - Tier 1 leverage capital | 259,711 | 280,009 |
Minimum to be well capitalized - Total Capital | 459,884 | 489,654 |
Minimum to be well capitalized - Tier 1 capital | 367,907 | 391,723 |
Minimum to be well capitalized - Common equity tier 1 capital | 298,924 | 318,275 |
Minimum to be well capitalized - Tier 1 leverage | $ 324,639 | $ 350,011 |
Risk Based Ratios [Abstract] | ||
Capital to Risk Weighted Assets | 18.71% | 17.29% |
Tier One Risk Based Capital to Risk Weighted Assets | 17.44% | 15.99% |
Common Equity Tier OneTo Risk Weighted Assets | 13.32% | 12.14% |
Tier One Leverage Capital to Average Assets | 12.35% | 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 | $ 841,599 | $ 815,458 |
Actual - Tier 1 capital | 783,151 | 751,886 |
Actual -Common equity tier 1 capital | 783,151 | 751,886 |
Actual - Tier 1 leverage capital | 783,151 | 751,886 |
Minimum Capital - Total Capital | 367,256 | 390,688 |
Minimum capital - Tier 1 capital | 275,442 | 293,016 |
Minimum capital - Common equity tier 1 capital | 206,582 | 219,762 |
Minimum capital - Tier 1 leverage capital | 258,600 | 278,399 |
Minimum to be well capitalized - Total Capital | 459,070 | 488,360 |
Minimum to be well capitalized - Tier 1 capital | 367,256 | 390,688 |
Minimum to be well capitalized - Common equity tier 1 capital | 298,396 | 317,434 |
Minimum to be well capitalized - Tier 1 leverage | $ 323,250 | $ 347,999 |
Risk Based Ratios [Abstract] | ||
Capital to Risk Weighted Assets | 18.33% | 16.70% |
Tier One Risk Based Capital to Risk Weighted Assets | 17.06% | 15.40% |
Common Equity Tier OneTo Risk Weighted Assets | 17.06% | 15.40% |
Tier One Leverage Capital to Average Assets | 12.11% | 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 | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Equity, Class of Treasury Stock [Line Items] | ||||
Stock Repurchase Program Authorized Amount1 | $ 70,000 | |||
Total number of shares purchased | 803,985 | 803,985 | ||
Treasury Stock Acquired, Average Cost Per Share | $ 11.1 | |||
Treasury Stock, Value, Acquired, Cost Method | $ 8,900 | 0 | $ 8,950 | |
Stock Repurchase Program Remaining Authorized Repurchase Amount1 | $ 7,700 | |||
Stock repurchase program remaining number of shares authorized to be repurchased | 764,674 | |||
SharePrice | $ 10.11 | |||
Preferred Stock Issue Costs | $ 13,600 | |||
Common Stock Issuance Cost | $ 10,100 | |||
legal surplus | 74,800 | 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 | ||
Sep. 30, 2015 | Sep. 30, 2016 | Dec. 31, 2015 | |
Equity, Class of Treasury Stock [Line Items] | |||
Common shares repurchased as part of the stock repurchase program (Shares) | 803,985 | ||
Treasury Stock Acquired, Average Cost Per Share | $ 11.1 | ||
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 | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2016 | Sep. 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 | 803,985 | |
Reclassification from common stock (shares) | 0 | ||
End of period | 8,757,960 | 8,712,150 | 8,757,960 |
Beginning of period | $ 105,379 | $ 97,070 | |
Common shares used for exercise of restricted stock units (Value) | (505) | (641) | |
Stock purchased under the repurchase program | $ 8,900 | 0 | 8,950 |
End of period | $ 105,379 | $ 104,874 | $ 105,379 |
Accumulated Other Comprehens111
Accumulated Other Comprehensive Income (Accumulated Comprehensive Income, net of income tax) (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Accumulated Other Comprehensive Income [Line Items] | ||
Accumulated other comprehensive income, net of tax, Total | $ 15,844 | $ 13,997 |
Accumulated Other Comprehensive Income (Loss) [Member] | ||
Accumulated Other Comprehensive Income [Line Items] | ||
Accumulated other comprehensive income, net of tax, Total | 15,844 | 13,997 |
AccumulatedOtherThanTemporaryImpairmentMember | ||
Accumulated Other Comprehensive Income [Line Items] | ||
Unrealized gain on securities available-for-sale which are not other-than-temporarily impaired | 18,689 | 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 | (1,136) | (1,924) |
Net unrealized gain on securities available for sale wich are not other than temporarily impaired | 17,553 | 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 | (2,803) | (4,307) |
Income tax effect of unrealized loss on cash flow hedges | 1,094 | 1,380 |
Net unrealized (loss) income on cash flow hedges | $ (1,709) | $ (2,927) |
Accumulated Other Comprehens112
Accumulated Other Comprehensive Income (Changes in Other Comprehensive Income by Components) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Net unrealized gains on securities available for sale | ||||
Accumulated Other Comprehensive Income [Line Items] | ||||
Beginning balance | $ 18,085 | $ 18,832 | $ 16,924 | $ 25,765 |
Other Comprehensive Income Loss Before Reclassifications Net Of Tax | (469) | 3,175 | (1,732) | (4,037) |
Other-than-temporary impairment amount reclassified from accumulated other comprehensive income | 0 | 584 | 2,557 | 584 |
Reclassification Out Of Accumulated Other Comprehensive Income | (63) | (105) | (196) | 174 |
Other Comprehensive Income (Loss) Other Net Of Tax | (532) | 3,654 | 629 | (3,279) |
Ending balance | 17,553 | 22,486 | 17,553 | 22,486 |
Net unrealized loss on cash flow hedges | ||||
Accumulated Other Comprehensive Income [Line Items] | ||||
Beginning balance | (2,280) | (4,531) | (2,927) | (6,054) |
Other Comprehensive Income Loss Before Reclassifications Net Of Tax | (144) | (1,346) | (2,550) | (2,894) |
Other-than-temporary impairment amount reclassified from accumulated other comprehensive income | 0 | 0 | 0 | 0 |
Reclassification Out Of Accumulated Other Comprehensive Income | 715 | 1,547 | 3,768 | 4,618 |
Other Comprehensive Income (Loss) Other Net Of Tax | 571 | 201 | 1,218 | 1,724 |
Ending balance | (1,709) | (4,330) | (1,709) | (4,330) |
Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Accumulated Other Comprehensive Income [Line Items] | ||||
Beginning balance | 15,805 | 14,301 | 13,997 | 19,711 |
Other Comprehensive Income Loss Before Reclassifications Net Of Tax | (613) | 1,829 | (4,282) | (6,931) |
Other-than-temporary impairment amount reclassified from accumulated other comprehensive income | 0 | 584 | 2,557 | 584 |
Reclassification Out Of Accumulated Other Comprehensive Income | 652 | 1,442 | 3,572 | 4,792 |
Other Comprehensive Income (Loss) Other Net Of Tax | 39 | 3,855 | 1,847 | (1,555) |
Ending balance | $ 15,844 | $ 18,156 | $ 15,844 | $ 18,156 |
Accumulated Other Comprehens113
Accumulated Other Comprehensive Income (Reclassifications out of other comprehensive income) (Details) - Reclassification out of Accumulated Other Comprehensive Income [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Interest Rate Contract | $ 664 | $ 1,622 | $ 3,468 | $ 4,842 |
Tax effect from increase in capital gains tax rate, Cash flow hedges | 51 | (75) | 300 | (224) |
Other Than Temporary Impairment on securities | 0 | (246) | 0 | (246) |
Residual tax effect from OIB's change in applicable tax rate AFS | 9 | 11 | 24 | 33 |
Tax effect from increase in capital gains tax rate AFS | (72) | 130 | (220) | 387 |
Total | $ 652 | $ 1,442 | $ 3,572 | $ 4,792 |
Earnings Per Common Share (Narr
Earnings Per Common Share (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 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 | 927,069 | 973,200 | 957,670 | 648,563 | |
Convertible Preferred Stock | $ 84,000 | $ 84,000 | $ 84,000 | ||
Series C Convertible Preferred Stock | |||||
Preferred stock, shares issued | 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 | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2016 | Jun. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | |
Earnings Per Share [Abstract] | |||||||
Net (loss) income | $ 15,120 | $ 15,120 | $ 4,569 | $ 43,630 | $ (1,528) | $ 43,630 | $ (1,528) |
Non-Convertible Preferred Stock Dividend (Series A,B and D) | (1,627) | (1,627) | (4,883) | (4,884) | |||
Convertible Preferred Stock Dividend (Series C) | (1,838) | (1,838) | (5,513) | (5,512) | |||
Income available to common shareholders | 11,655 | 1,104 | 33,234 | (11,924) | |||
Effect of assumed conversion of convertible preferred stock | 1,838 | 1,838 | 5,513 | 5,512 | |||
Income available to common sharesholders assuming conversion | $ 13,493 | $ 2,942 | $ 38,747 | $ (6,412) | |||
Average common shares outstanding | 43,926 | 43,929 | 43,913 | 44,353 | |||
Average potential common shares options | 47 | 46 | 40 | 85 | |||
Average potential common shares convertible preferred stock | 7,138 | 7,171 | 7,138 | 7,171 | |||
Average common shares outstanding and equivalents | 51,111 | 51,146 | 51,091 | 51,609 | |||
Earnings per common share - basic | $ 0.27 | $ 0.03 | $ 0.76 | $ (0.27) | |||
Earnings per common share - diluted | $ 0.26 | $ 0.03 | $ 0.76 | $ (0.27) |
Guarantees (Narrative) (Details
Guarantees (Narrative) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Guarantee Obligations [Line Items] | |||||
Acquired standby letters of credit and financial guarantees | $ 2,400,000 | $ 2,400,000 | $ 14,700,000 | ||
Unpaid principal balance of residential subject loans subject to credit recourse | 20,400,000 | 20,400,000 | 22,400,000 | ||
Liability for estimated credit losses to loans sold with credit recourse | 191,000 | 191,000 | 439,000 | ||
Repurchased loans not subject to credit recourse provision | 791,000 | $ 7,700,000 | 3,100,000 | $ 19,500,000 | |
Losses from repurchased loans subject to credit recourse | 202,000 | 418,000 | 313,000 | 1,000,000 | |
Losses On Repurchased Loan Not Subject To Credit Recourse | 208,000 | 500,000 | 1,000,000 | 2,000,000 | |
Serviced mortgage loans for third parties | 752,500,000 | 752,500,000 | |||
Funds Advanced To Investors Under Servicing Agreements | 330,000 | 330,000 | $ 301,000 | ||
Loan with recourse [Member] | |||||
Guarantee Obligations [Line Items] | |||||
Repurchased GNMA | $ 133,000 | $ 165,000 | $ 421,000 | $ 3,400,000 |
Guarantees (Changes in liabilty
Guarantees (Changes in liabilty of estimated loss from credit recourse agreement) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Movement In Guaranteed Benefit Liability Gross Roll Forward | ||||
Balance at beginning of the period | $ 162 | $ 289 | $ 439 | $ 927 |
Net charge-off/terminations | 29 | 140 | (248) | (498) |
Balance at the end of the period | $ 191 | $ 429 | $ 191 | $ 429 |
Commitments (Narratives) (Detai
Commitments (Narratives) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Commitments and Contingencies [Abstract] | |||||
Rent Expenses | $ 2,000 | $ 2,300 | $ 6,500 | $ 7,000 | |
Line of credit reserve | $ 667 | $ 667 | $ 667 |
Commitments (Summarized credit-
Commitments (Summarized credit-related financial instruments) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Commitments and Contingencies [Abstract] | ||
Commitments To Extend Credit | $ 516,134 | $ 456,720 |
Commercial letters credit | 1,386 | 1,508 |
Standby letters of credit and financial guarantees | 4,809 | 14,656 |
Loans sold with recourse | $ 20,394 | $ 22,374 |
Commitments (Future rental comm
Commitments (Future rental commitments under leases) (Details) $ in Thousands | Sep. 30, 2016USD ($) |
Operating Leases, Future Minimum Payments Due [Abstract] | |
2,016 | $ 1,864 |
2,017 | 7,051 |
2,018 | 6,512 |
2,019 | 6,471 |
2,020 | 5,744 |
Thereafter | 12,563 |
Total | $ 40,205 |
Fair Value (Assets and liabilit
Fair Value (Assets and liabilities on recurring and non-recurring basis) (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | $ 642,683,000 | $ 974,609,000 |
Money Market Funds, at Carrying Value | 5,460,000 | 4,699,000 |
Derivative Assets | 1,503,000 | 3,025,000 |
Servicing Assets | 8,393,000 | 7,455,000 |
Trading Securities | 380,000 | 288,000 |
Impaired Commercial Loan | 36,601,000 | 235,767,000 |
Foreclosed real estate | 45,740,000 | 58,176,000 |
Other repossessed assets | 3,449,000 | 6,226,000 |
Total | 85,790,000 | 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 |
Money Market Funds, at Carrying Value | 5,460,000 | 4,699,000 |
Derivative Assets | 0 | 0 |
Servicing Assets | 0 | 0 |
Trading Securities | 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 | 642,683,000 | 974,609,000 |
Money Market Funds, at Carrying Value | 0 | 0 |
Derivative Assets | 1,503,000 | 1,853,000 |
Servicing Assets | 0 | 0 |
Derivative liabilities | (4,306,000) | (6,162,000) |
Trading Securities | 380,000 | 288,000 |
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 |
Money Market Funds, at Carrying Value | 0 | 0 |
Derivative Assets | 0 | 1,172,000 |
Servicing Assets | 8,393,000 | 7,455,000 |
Derivative liabilities | 0 | (1,095,000) |
Trading Securities | 0 | |
Impaired Commercial Loan | 36,601,000 | 235,767,000 |
Foreclosed real estate | 45,740,000 | 58,176,000 |
Other repossessed assets | 3,449,000 | 6,226,000 |
Total | 85,790,000 | 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 | 642,683,000 | 974,609,000 |
Money Market Funds, at Carrying Value | 5,460,000 | 4,699,000 |
Derivative Assets | 1,503,000 | 3,025,000 |
Servicing Assets | 8,393,000 | 7,455,000 |
Derivative liabilities | (4,306,000) | (7,257,000) |
Trading Securities | 380,000 | 288,000 |
Total | 654,113,000 | 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 |
Money Market Funds, at Carrying Value | 5,460,000 | 4,699,000 |
Derivative Assets | 0 | 0 |
Servicing Assets | 0 | 0 |
Derivative liabilities | 0 | 0 |
Trading Securities | 0 | 0 |
Total | 5,460,000 | 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 | 642,683,000 | 974,609,000 |
Money Market Funds, at Carrying Value | 0 | 0 |
Derivative Assets | 1,503,000 | 1,853,000 |
Servicing Assets | 0 | 0 |
Derivative liabilities | (4,306,000) | (6,162,000) |
Trading Securities | 380,000 | 288,000 |
Total | 640,260,000 | 970,588,000 |
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 |
Money Market Funds, at Carrying Value | 0 | 0 |
Derivative Assets | 0 | 1,172,000 |
Servicing Assets | 8,393,000 | 7,455,000 |
Derivative liabilities | 0 | (1,095,000) |
Trading Securities | 0 | 0 |
Total | 8,393,000 | 7,532,000 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired Commercial Loan | 36,601,000 | 235,767,000 |
Foreclosed real estate | 45,740,000 | 58,176,000 |
Other repossessed assets | 3,449,000 | 6,226,000 |
Total | 85,790,000 | 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 | 36,601,000 | 235,767,000 |
Foreclosed real estate | 45,740,000 | 58,176,000 |
Other repossessed assets | 3,449,000 | 6,226,000 |
Total | $ 85,790,000 | $ 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 | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance | $ 7,938,000 | $ 5,885,000 | $ 7,530,000 | $ 14,070,000 |
Gains (losses) included in earnings | (6,000) | (51,000) | (103,000) | (169,000) |
Sale of mortgage servicng rights | (6,985,000) | |||
New instruments acquired | 466,000 | 748,000 | 1,740,000 | 2,808,000 |
Change due to principal payments | (124,000) | (242,000) | (347,000) | (974,000) |
Amortization | 1,000 | 31,000 | 28,000 | 165,000 |
Changes in fair value related to pricr of MSRs held for sale | (2,716,000) | |||
Changes in fair value of servicing assets | 118,000 | 166,000 | (455,000) | 338,000 |
Balance | 8,393,000 | 6,537,000 | 8,393,000 | 6,537,000 |
Derivative Financial Instruments, Assets [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance | 187,000 | 2,138,000 | 1,170,000 | 5,555,000 |
Gains (losses) included in earnings | (187,000) | (1,023,000) | (1,170,000) | (4,440,000) |
Sale of mortgage servicng rights | 0 | |||
New instruments acquired | 0 | 0 | 0 | 0 |
Change due to principal payments | 0 | 0 | 0 | 0 |
Amortization | 0 | 0 | 0 | 0 |
Changes in fair value related to pricr of MSRs held for sale | 0 | |||
Changes in fair value of servicing assets | 0 | 0 | 0 | 0 |
Balance | 0 | 1,115,000 | 0 | 1,115,000 |
Servicing Assets [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance | 7,932,000 | 5,791,000 | 7,455,000 | 13,992,000 |
Gains (losses) included in earnings | 0 | 0 | 0 | 0 |
Sale of mortgage servicng rights | (6,985,000) | |||
New instruments acquired | 466,000 | 748,000 | 1,740,000 | 2,808,000 |
Change due to principal payments | (123,000) | (242,000) | (347,000) | (974,000) |
Amortization | 0 | 0 | 0 | 0 |
Changes in fair value related to pricr of MSRs held for sale | (2,716,000) | |||
Changes in fair value of servicing assets | 118,000 | 166,000 | (455,000) | 338,000 |
Balance | 8,393,000 | 6,463,000 | 8,393,000 | 6,463,000 |
Derivative Financial Instruments, Liabilities [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance | (181,000) | (2,044,000) | (1,095,000) | (5,477,000) |
Gains (losses) included in earnings | 181,000 | 972,000 | 1,067,000 | 4,271,000 |
Sale of mortgage servicng rights | 0 | |||
New instruments acquired | 0 | 0 | 0 | 0 |
Change due to principal payments | (1,000) | 0 | 0 | 0 |
Amortization | 1,000 | 31,000 | 28,000 | 165,000 |
Changes in fair value related to pricr of MSRs held for sale | 0 | |||
Changes in fair value of servicing assets | 0 | 0 | 0 | 0 |
Balance | $ 0 | $ (1,041,000) | $ 0 | $ (1,041,000) |
Fair Value (Qualitative informa
Fair Value (Qualitative information for assets and liabilities) (Details) - Fair Value, Inputs, Level 3 [Member] $ in Thousands | 3 Months Ended |
Sep. 30, 2016USD ($) | |
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 | $ 8,393 |
Valuation Technique | Cash flow valuation |
Servicing Assets [Member] | Cash Flow Valuation Technique [Member] | Minimum [Member] | |
Fair Value Inputs Assets Quantitative Information [Line Items] | |
Constant prepayment rate | 5.18% |
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 | 10.49% |
Discount rate | 12.00% |
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 | $ 23,759 |
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 | 46.20% |
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 | $ 12,840 |
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 | $ 45,740 |
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 | 46.20% |
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 | $ 3,449 |
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 | 46.20% |
Fair value (Estimated fair valu
Fair value (Estimated fair value and carrying value) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
Assets, Fair Value Disclosure [Abstract] | ||||||
Trading Securities | $ 380 | $ 288 | ||||
Available-for-sale Securities | 642,683 | 974,609 | ||||
Held to maturity Fair Value | 650,023 | 614,679 | ||||
Federal Home Loan Bank (FHLB) stock | 12,712 | 20,783 | ||||
Other Investments | 3 | 3 | ||||
Derivative Assets | 1,503 | 3,025 | ||||
Servicing Assets | 8,393 | 7,455 | ||||
Assets,Carrying Value [Abstract] | ||||||
Cash and Cash Equivalents, at Carrying Value | $ 526,196 | $ 526,196 | $ 573,427 | |||
Restricted Cash And Cash Equivalents | 3,030 | 3,349 | ||||
Trading Securities | 380 | 288 | ||||
Investment securities AFS , carrying value | 642,683 | 974,609 | ||||
Loans, net of allowance for loan and lease losses | 4,144,045 | 4,416,396 | ||||
FDIC Indemnification Asset | 16,670 | $ 18,426 | 22,599 | $ 22,895 | $ 22,704 | $ 97,378 |
Accrued interest receivable | 17,966 | 20,637 | ||||
Liabilities,Carrying Value Disclosure [Abstract] | ||||||
Deposits, Total | 4,754,771 | 4,717,751 | ||||
Securities Sold under Agreements to Repurchase | 658,232 | 934,691 | ||||
Subordinated capital notes | 36,083 | 102,633 | ||||
Accrued expenses and other liabilities | 89,760 | 92,043 | ||||
Fair Value, Inputs, Level 1 [Member] | ||||||
Assets, Fair Value Disclosure [Abstract] | ||||||
Cash and Cash Equivalents, Fair Value Disclosure | 509,265 | 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 | ||||
Assets,Carrying Value [Abstract] | ||||||
Cash and Cash Equivalents, at Carrying Value | 509,265 | 536,709 | ||||
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 | 380 | 288 | ||||
Available-for-sale Securities | 642,683 | 974,609 | ||||
Held to maturity Fair Value | 650,023 | 614,679 | ||||
Federal Home Loan Bank (FHLB) stock | 12,712 | 20,783 | ||||
Other Investments | 3 | 3 | ||||
Derivative Assets | 1,503 | 1,853 | ||||
Servicing Assets | 0 | 0 | ||||
Liabilities, Fair Value Disclosure [Abstract] | ||||||
Derivative Liabilities Current | 4,306 | 6,162 | ||||
Assets,Carrying Value [Abstract] | ||||||
Trading Securities | 380 | 288 | ||||
Investment securities AFS , carrying value | 642,683 | 974,609 | ||||
Investment held for sale, carrying amount | 641,890 | 620,189 | ||||
Federal Home Loan Bank Stock at carrying value | 12,712 | 20,783 | ||||
Other Investment, Carrying Value | 3 | 3 | ||||
Derivative Assets, carrying value | 1,503 | 1,855 | ||||
Liabilities,Carrying Value Disclosure [Abstract] | ||||||
Derivative liabilities, carrying value | 4,306 | 6,162 | ||||
Fair Value, Inputs, Level 3 [Member] | ||||||
Assets, Fair Value Disclosure [Abstract] | ||||||
Available-for-sale Securities | 0 | 0 | ||||
Non-covered loans, net | 4,041,684 | 4,101,219 | ||||
Derivative Assets | 0 | 1,172 | ||||
FDIC Indemnification Asset Fair Value Disclosure | 10,585 | 17,786 | ||||
Receivables, Fair Value Disclosure | 17,966 | 20,637 | ||||
Servicing Assets | 8,393 | 7,455 | ||||
Account Receivable and Other assets, Fair Value | 49,733 | 42,786 | ||||
Liabilities, Fair Value Disclosure [Abstract] | ||||||
Deposits, Fair Value Disclosure | 4,738,963 | 4,705,878 | ||||
Securities sold under agreements to repurchase | 662,027 | 955,859 | ||||
Advances from FHLB | 106,811 | 335,812 | ||||
Other Borrowings | 40 | 2,593 | ||||
Subordinated capital notes | 32,831 | 94,940 | ||||
Derivative Liabilities Current | 0 | 1,095 | ||||
Accrued expenses and other liabilities | 89,759 | 92,043 | ||||
Assets,Carrying Value [Abstract] | ||||||
Trading Securities | 0 | |||||
Loans, net of allowance for loan and lease losses | 4,298,965 | 4,434,213 | ||||
Derivative Assets, carrying value | 0 | 1,170 | ||||
FDIC Indemnification Asset | 16,670 | 22,599 | ||||
Accrued interest receivable | 17,966 | 20,637 | ||||
Servicing assets, carrying value | 8,393 | 7,455 | ||||
Account receivable and oher assets, carrying value | 49,733 | 42,786 | ||||
Liabilities,Carrying Value Disclosure [Abstract] | ||||||
Deposits, Total | 4,754,771 | 4,716,656 | ||||
Securities Sold under Agreements to Repurchase | 658,232 | 934,691 | ||||
Advances from FHLB | 105,944 | 332,476 | ||||
Other Borrowings | 40 | 1,734 | ||||
Subordinated capital notes | 36,083 | 102,633 | ||||
Accrued expenses and other liabilities | 89,759 | 92,043 | ||||
Derivative liabilities, carrying value | $ 0 | $ 1,095 |
Business Segments (Details)
Business Segments (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Segment Reporting Information [Line Items] | |||||
Total interest income | $ 90,584 | $ 107,247 | $ 269,798 | $ 313,661 | |
Interest expense | (13,657) | (17,424) | (44,584) | (51,911) | |
Net interest income | 76,927 | 89,823 | 225,214 | 261,750 | |
Provision for Loan and Lease Losses, net | (23,469) | (51,579) | (51,703) | (109,311) | |
Total non-interest income (loss), net | 20,215 | 35,977 | 48,873 | 38,202 | |
Non-interest expenses | (54,926) | (69,090) | (163,608) | (189,859) | |
Intersegment revenues | 0 | 0 | 0 | 0 | |
Intersegment expenses | 0 | 0 | 0 | 0 | |
Income (loss) before Income Taxes, Parent | 18,747 | 5,131 | 58,776 | 782 | |
Total assets | 6,592,113 | 6,592,113 | $ 7,099,149 | ||
Banking [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total interest income | 82,564 | 97,264 | 243,389 | 285,251 | |
Interest expense | (6,733) | (7,036) | (20,840) | (21,600) | |
Net interest income | 75,831 | 90,228 | 222,549 | 263,651 | |
Provision for Loan and Lease Losses, net | (23,469) | (51,579) | (51,703) | (109,311) | |
Total non-interest income (loss), net | 8,918 | 30,098 | 24,927 | 16,136 | |
Non-interest expenses | (50,095) | (63,106) | (147,881) | (169,264) | |
Intersegment revenues | 375 | 351 | 1,162 | 1,058 | |
Intersegment expenses | (86) | (69) | (235) | (228) | |
Income (loss) before Income Taxes, Parent | 11,474 | 5,923 | 48,819 | 2,042 | |
Total assets | 5,715,958 | 5,990,125 | 5,715,958 | 5,990,125 | |
Financial Services | |||||
Segment Reporting Information [Line Items] | |||||
Total interest income | 15 | 25 | 49 | 71 | |
Interest expense | 0 | 0 | 0 | 0 | |
Net interest income | 15 | 25 | 49 | 71 | |
Provision for Loan and Lease Losses, net | 0 | 0 | 0 | 0 | |
Total non-interest income (loss), net | 6,379 | 6,513 | 19,309 | 20,416 | |
Non-interest expenses | (3,757) | (5,063) | (11,610) | (16,586) | |
Intersegment revenues | 0 | 0 | 0 | 0 | |
Intersegment expenses | (272) | (252) | (849) | (770) | |
Income (loss) before Income Taxes, Parent | 2,365 | 1,223 | 6,899 | 3,131 | |
Total assets | 19,433 | 20,594 | 19,433 | 20,594 | |
Treasury [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total interest income | 8,005 | 9,958 | 26,360 | 28,339 | |
Interest expense | (6,924) | (10,388) | (23,744) | (30,311) | |
Net interest income | 1,081 | (430) | 2,616 | (1,972) | |
Provision for Loan and Lease Losses, net | 0 | 0 | 0 | 0 | |
Total non-interest income (loss), net | 4,918 | (634) | 4,637 | 1,650 | |
Non-interest expenses | (1,074) | (921) | (4,117) | (4,009) | |
Intersegment revenues | 86 | 69 | 235 | 228 | |
Intersegment expenses | (103) | (99) | (313) | (288) | |
Income (loss) before Income Taxes, Parent | 4,908 | (2,015) | 3,058 | (4,391) | |
Total assets | 1,801,752 | 2,117,569 | 1,801,752 | 2,117,569 | |
Major Segment [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total interest income | 90,584 | 107,247 | 269,798 | 313,661 | |
Interest expense | (13,657) | (17,424) | (44,584) | (51,911) | |
Net interest income | 76,927 | 89,823 | 225,214 | 261,750 | |
Provision for Loan and Lease Losses, net | (23,469) | (51,579) | (51,703) | (109,311) | |
Total non-interest income (loss), net | 20,215 | 35,977 | 48,873 | 38,202 | |
Non-interest expenses | (54,926) | (69,090) | (163,608) | (189,859) | |
Intersegment revenues | 461 | 420 | 1,397 | 1,286 | |
Intersegment expenses | (461) | (420) | (1,397) | (1,286) | |
Income (loss) before Income Taxes, Parent | 18,747 | 5,131 | 58,776 | 782 | |
Total assets | 7,537,143 | 8,128,288 | 7,537,143 | 8,128,288 | |
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 | (461) | (420) | (1,397) | (1,286) | |
Intersegment expenses | 461 | 420 | 1,397 | 1,286 | |
Income (loss) before Income Taxes, Parent | 0 | 0 | 0 | 0 | |
Total assets | (945,031) | (924,466) | (945,031) | (924,466) | |
Consolidated Total [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total interest income | 90,584 | 107,247 | 269,798 | 313,661 | |
Interest expense | (13,657) | (17,424) | (44,584) | (51,911) | |
Net interest income | 76,927 | 89,823 | 225,214 | 261,750 | |
Provision for Loan and Lease Losses, net | (23,469) | (51,579) | (51,703) | (109,311) | |
Total non-interest income (loss), net | 20,215 | 35,977 | 48,873 | 38,202 | |
Non-interest expenses | (54,926) | (69,090) | (163,608) | (189,859) | |
Intersegment revenues | 0 | 0 | 0 | 0 | |
Intersegment expenses | 0 | 0 | 0 | 0 | |
Income (loss) before Income Taxes, Parent | 18,747 | 5,131 | 58,776 | 782 | |
Total assets | $ 6,592,112 | $ 7,203,822 | $ 6,592,112 | $ 7,203,822 |