Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2017 | Jul. 31, 2017 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | OFG BANCORP | |
Entity Central Index Key | 1,030,469 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2017 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q2 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 43,947,442 |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Cash and cash equivalents | ||
Cash and Due from Banks | $ 470,841 | $ 504,833 |
Money market investments | 6,467 | 5,606 |
Total cash and cash equivalents | 477,308 | 510,439 |
Restricted Cash | 3,030 | 3,030 |
Investments: | ||
Trading Securities, at fair value | 294 | 347 |
Investment securities available-for-sale, at fair value | 649,327 | 751,484 |
Investment securities held-to-maturity, at amortized cost | 555,407 | 599,884 |
Federal Home Loan Bank (FHLB) stock, at cost | 16,616 | 10,793 |
Other investments | 3 | 3 |
Total investments | 1,221,647 | 1,362,511 |
Loans: | ||
Loans held-for-sale, at lower of cost or fair value | 47,691 | 12,499 |
Other Loans Held for Sale | 33,647 | 0 |
Loans held for investment, net | 4,044,175 | 4,135,193 |
Total loans, net | 4,091,866 | 4,147,692 |
Other asset | ||
FDIC indemnification asset | 0 | 14,411 |
Foreclosed real estate | 50,223 | 47,520 |
Accrued interest receivable | 19,798 | 20,227 |
Deferred tax asset, net | 116,199 | 124,200 |
Premises and equipment, net | 69,836 | 70,407 |
Customers' liability on acceptances | 22,739 | 23,765 |
Servicing Assets | 9,866 | 9,858 |
Derivative assets | 957 | 1,330 |
Goodwill | 86,069 | 86,069 |
Other assets | 66,288 | 80,365 |
Total assets | 6,235,826 | 6,501,824 |
Deposits: | ||
Demand deposits | 1,844,996 | 1,939,764 |
Savings accounts | 1,169,002 | 1,196,232 |
Tme Deposits | 1,568,688 | 1,528,491 |
Total deposits | 4,582,686 | 4,664,487 |
Borrowings: | ||
Securities Sold under Agreements to Repurchase | 453,492 | 653,756 |
Advances from FHLB | 137,540 | 105,454 |
Subordinated capital notes | 36,083 | 36,083 |
Other borrowings | 177 | 61 |
Total borrowings | 627,292 | 795,354 |
Derivative liabilities | 1,881 | 2,437 |
Acceptances executed and outstanding | 22,739 | 23,765 |
Accrued expenses and other liabilities | 62,259 | 95,370 |
Total liabilities | 5,296,857 | 5,581,413 |
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 | 541,005 | 540,948 |
Legal surplus | 79,460 | 76,293 |
Retained earnings | 194,687 | 177,808 |
Treasury stock, at cost | (104,502) | (104,860) |
Accumulated Other Comprehensive (Loss) Income, Net of Tax | (307) | 1,596 |
Total stockholders' equity | 938,969 | 920,411 |
Total liabilities and stockholders' equity | $ 6,235,826 | $ 6,501,824 |
Consolidated Statements of Fin3
Consolidated Statements of Financial Condition (Parenthetical) - USD ($) | 3 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Amortized cost of trading securities | $ 667,000 | $ 667,000 |
Amortized cost of investment securities available-for-sale | 649,280,000 | 749,867,000 |
Fair value of held to maturity securities | 549,595,000 | 592,763,000 |
Allowance for loan and lease losses | $ 132,295,000 | $ 115,937,000 |
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 | 43,947,442 | 43,914,844 |
Treasury stock, at cost, shares | 8,678,427 | 8,711,025 |
Tax effect on accumulated other comprehensive income (loss) | $ (569,000) | $ (983,000) |
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 - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Interest income: | ||||
Loans | $ 77,238 | $ 79,675 | $ 154,888 | $ 160,827 |
Mortgage-backed securities | 7,276 | 7,220 | 14,482 | 16,217 |
Investment securities and other | 1,426 | 1,013 | 2,748 | 2,170 |
Total interest income | 85,940 | 87,908 | 172,118 | 179,214 |
Interest expense: | ||||
Deposits | 7,652 | 7,367 | 15,005 | 14,491 |
Securities sold under agreements to repurchase | 1,734 | 4,258 | 4,979 | 10,358 |
Advances from FHLB and other borrowings | 607 | 2,098 | 1,202 | 4,337 |
Subordinated capital notes | 384 | 873 | 751 | 1,741 |
Total interest expense | 10,377 | 14,596 | 21,937 | 30,927 |
Net interest income | 75,563 | 73,312 | 150,181 | 148,287 |
Provision for Loan, Lease, and Other Losses | 26,536 | 14,445 | 44,190 | 28,234 |
Net interest income after provision for loan and lease losses | 49,027 | 58,867 | 105,991 | 120,053 |
Non-interest income: | ||||
Banking service revenues | 10,458 | 10,219 | 21,084 | 20,337 |
Wealth management revenue | 6,516 | 7,041 | 12,731 | 13,193 |
Mortgage banking activities | 959 | 1,024 | 1,546 | 1,879 |
Total Banking and Financial Service Revenues | 17,933 | 18,284 | 35,361 | 35,409 |
FDIC shared-loss benefit (expense), net [Abstract] | ||||
FDIC shared-loss benefit (expense), net | 0 | (3,420) | 1,403 | (7,449) |
Net gain (loss) on: | ||||
Sale of securities | 6,891 | 211 | 6,891 | 12,207 |
Derivatives | 22 | (10) | 103 | (13) |
Early extinguishment of debt | (80) | 0 | (80) | (12,000) |
Other non-interest income | 120 | 90 | 282 | 504 |
Total non-interest income, net | 24,886 | 15,155 | 43,960 | 28,658 |
Non-interest expense: | ||||
Compensation and employee benefits | 19,317 | 18,441 | 39,664 | 38,696 |
Professional and service fees | 3,225 | 2,810 | 6,462 | 5,795 |
Occupancy and equipment | 8,690 | 8,107 | 16,057 | 15,929 |
Insurance | 1,183 | 3,155 | 2,783 | 6,305 |
Electronic banking charges | 5,450 | 4,947 | 10,352 | 10,536 |
Information technology related expenses | 2,069 | 1,606 | 4,068 | 3,262 |
Advertising, business promotion, and strategic initiatives | 1,361 | 1,294 | 2,722 | 2,588 |
Loss on sale of foreclosed real estate and other reossessed assets | 1,787 | 4,163 | 3,113 | 6,094 |
Loan servicing and clearing expenses | 1,270 | 1,966 | 2,459 | 4,096 |
Taxes, other than payroll and income taxes | 2,393 | 2,330 | 4,764 | 5,001 |
Communication | 761 | 581 | 1,506 | 1,400 |
Printing, postage, stationary and supplies | 665 | 600 | 1,303 | 1,325 |
Director and investors relations | 274 | 301 | 554 | 579 |
Credit related expenses | 2,217 | 2,203 | 4,843 | 4,458 |
Other | 2,154 | 1,321 | 3,850 | 2,618 |
Total non-interest expense | 52,816 | 53,825 | 104,500 | 108,682 |
Income before income taxes | 21,097 | 20,197 | 45,451 | 40,029 |
Income tax expense (benefit) | 3,993 | 5,858 | 13,197 | 11,519 |
Net income | 17,104 | 14,339 | 32,254 | 28,510 |
Dividends on preferred stock | (3,466) | (3,466) | (6,931) | (6,931) |
Income (loss) available to common shareholders | $ 13,638 | $ 10,873 | $ 25,323 | $ 21,579 |
Earnings (loss) per common share: | ||||
Basic | $ 0.3 | $ 0.25 | $ 0.58 | $ 0.49 |
Diluted | $ 0.3 | $ 0.25 | $ 0.57 | $ 0.49 |
Average common shares outstanding and equivalents | 51,100 | 51,095 | 51,093 | 51,081 |
Cash dividends per share of common stock | $ 0.06 | $ 0.06 | $ 0.12 | $ 0.12 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Consolidated Statements of Comprehensive Income (Loss) [Abstract] | ||||
Net income | $ 17,104 | $ 14,339 | $ 32,254 | $ 28,510 |
Other comprehensive income (loss) before tax: | ||||
Unrealized gain (loss) on securities available-for-sale | 3,454 | 3,719 | 5,319 | 12,364 |
Realized gain on investment securities included in net income | (6,891) | (211) | (6,891) | (12,207) |
Unrealized (loss) gain on cash flow hedges | (102) | 663 | 81 | 652 |
Other comprehensive (loss) income before taxes | (3,539) | 4,171 | (1,491) | 809 |
Income tax effect | (116) | (650) | (412) | 999 |
Other Comprehensive Income (Loss) After taxes | (3,655) | 3,521 | (1,903) | 1,808 |
Comprehensive income | $ 13,449 | $ 17,860 | $ 30,351 | $ 30,318 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - 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, 2015 | $ 897,077 | $ 176,000 | $ 52,626 | $ 540,512 | $ 70,435 | $ 148,886 | $ (105,379) | $ 13,997 |
Stock-based compensation expense | 698 | 698 | ||||||
Stock-based compensation excess tax benefit recognized in income | 0 | 0 | ||||||
Lapsed restricted stock units | (505) | 505 | ||||||
Transfer from retained earnings/transfer to legal surplus | 2,830 | (2,830) | ||||||
Net income | 28,510 | 28,510 | ||||||
Cash dividends declared on common stock | (5,272) | (5,272) | ||||||
Cash dividends declared on preferred stock | (6,931) | (6,931) | ||||||
Other comprehensive loss, net of tax | 1,808 | 1,808 | ||||||
Ending Balance at Jun. 30, 2016 | 915,890 | 176,000 | 52,626 | 540,705 | 73,265 | 162,363 | (104,874) | 15,805 |
Beginning Balance at Dec. 31, 2016 | 920,411 | 176,000 | 52,626 | 540,948 | 76,293 | 177,808 | (104,860) | 1,596 |
Stock-based compensation expense | 515 | 515 | ||||||
Stock-based compensation excess tax benefit recognized in income | (100) | (100) | ||||||
Lapsed restricted stock units | (358) | 358 | ||||||
Transfer from retained earnings/transfer to legal surplus | 3,167 | (3,167) | ||||||
Net income | 32,254 | 32,254 | ||||||
Cash dividends declared on common stock | (5,277) | (5,277) | ||||||
Cash dividends declared on preferred stock | (6,931) | (6,931) | ||||||
Other comprehensive loss, net of tax | (1,903) | (1,903) | ||||||
Ending Balance at Jun. 30, 2017 | $ 938,969 | $ 176,000 | $ 52,626 | $ 541,005 | $ 79,460 | $ 194,687 | $ (104,502) | $ (307) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Cash flows from operating activities: | ||
Net income | $ 32,254 | $ 28,510 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
Amortization of deferred loan origination fees, net of costs | 1,455 | 1,977 |
Amortization of fair value premiums, net of discounts, on acquired loans | 2 | 39 |
Amortization of investment securities premiums, net of accretion of discounts | 4,362 | 4,356 |
Amortization of core deposit and customer relationship intangibles | 737 | 839 |
Amortization of fair value premium of acquired deposits | 0 | 189 |
FDIC Loss Share (Benefit) Expense | (1,403) | 7,449 |
Depreciation and amortization of premises and equipment | 4,231 | 5,025 |
Deferred income taxes, net | 7,570 | 3,543 |
Provision for loan and lease losses, net | 44,190 | 28,234 |
Stock-based compensation | 515 | 698 |
Stock-based compensation excess tax benefit recognized in income | (100) | 0 |
(Gain) loss on: | ||
Sale of securities | (6,891) | (12,207) |
Sale of mortgage loans held for sale | (517) | (809) |
Derivatives | (103) | 88 |
Early extinguishment of debt | 80 | 12,000 |
Foreclosed real estate | 3,453 | 7,287 |
Sale of other repossessed asset | (153) | (1,235) |
Sale of premises and equipment | 0 | 13 |
Originations of loans held-for-sale | (74,806) | (90,052) |
Proceeds from sale of loans held-for-sale | 24,020 | 32,212 |
Net (increase) decrease in: | ||
Trading securities | 53 | (60) |
Accrued interest receivable | 429 | 628 |
Servicing Assets | (8) | (477) |
Other assets | 12,493 | (4,872) |
Net increase (decrease) in: | ||
Accrued interest on deposits and borrowings | (370) | (373) |
Accrued expenses and other liabilities | (45,858) | 8,253 |
Net cash provided by operating activities | 5,635 | 31,255 |
Purchases of: | ||
Investment securities available-for-sale | (114,595) | (302) |
Investment securities held-to-maturity | 0 | (51,717) |
FHLB stock | (26,730) | (8,512) |
Maturities and Redemptions of [Abstract] | ||
Investment securities available-for-sale | 57,714 | 74,208 |
Investments securities held-to-maturity | 41,920 | 34,304 |
FHLB Stock | 20,907 | 9,457 |
Proceeds from sale of: | ||
Investment securities available for sale | 212,203 | 300,483 |
Foreclosed real estate and other repossessed assets, including write-offs | 21,754 | 25,779 |
Proceeds From Sale And Collection of Loans Held for Sale | 0 | 478 |
Gain (Loss) on Sale of Property Plant Equipment | 0 | (44) |
Origination and purchase of loans, excluding loans held-for-sale | (384,211) | (373,927) |
Principal repayment of loans, including covered loans | 367,834 | 386,477 |
(Repayment to) reimbursement to the FDIC for the termination of shared-loss agreements | (10,125) | 738 |
Additions to premises and equipment | (3,660) | (3,077) |
Net change in restricted cash | 0 | (319) |
Net cash provided by investing activities | 183,011 | 394,752 |
Net increase (decrease) in: | ||
Deposits | (41,900) | (87,864) |
Securities sold under agreements to repurchase | (199,466) | (320,000) |
FHLB advances, federal funds purchased, and other borrowings | 32,194 | (25,951) |
Subordinated capital notes | 0 | 350 |
Dividends paid on preferred stock | (6,931) | (6,931) |
Dividends paid on common stock | (5,674) | (5,272) |
Net cash used in financing activities | (221,777) | (445,668) |
Net change in cash and cash equivalents | (33,131) | (19,661) |
Cash and cash equivalents at beginning of period | 510,439 | 536,709 |
Cash and cash equivalents at end of period | 477,308 | 517,048 |
Supplemental Cash Flow Disclosure and Schedule of Non-cash Activities: | ||
Interest paid | 21,386 | 30,454 |
Income Taxes Paid | 15 | 3,642 |
Mortgage loans securitized into mortgage-backed securities | 49,648 | 53,872 |
Transfer from loans to foreclosed real estate and other repossessed assets | 28,293 | 21,865 |
Reclassification of loans held-for-investment portfolio to held-for-sale portfolio | 33,647 | 0 |
Reclassification of loans held-for-sale portfolio to investment portfolio | $ 112 | $ 182 |
Organization, Consolidation and
Organization, Consolidation and Basis of Presentation | 6 Months Ended |
Jun. 30, 2017 | |
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 retirem ent 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 liabilit ies of Eurobank, a Puerto Rico commercial bank, in an FDIC-assisted acquisition. On February 6, 2017, the Bank and the FDIC agreed to terminate the shared-loss agreements related to the Eurobank Acquisition. On December 18, 2012, the Company acquired a gro up 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.” Th e businesses acquired in these acquisitions have been integrated with the Company’s existing business. |
Significant Accounting Policies | Recent Accounting Developments Scope of Modification Accounting. In May 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-09 that clarifies when changes to the terms or conditions of a share-based payment award must be accounted for as modifications. Entities will apply the modification accounting guidance if the value, vesting conditions or classification of the award changes. ASU No. 2017-08 is effective for fiscal years, and interim periods, beginning after December 15, 2018, with early adoption permitted. The Company's Omnibus Plan provides for equity-based compensation incentives through the grant of stock options, stock appreci ation rights, restricted stock, restricted stock units, and dividend equivalents, as well as equity-based performance awards . If any change occurs in the future to the Omnibus Plan, the Company will evaluate it under this guideline. Premium Amortization o n Purchased Callable Debt Securities Receivables . In March 2017, the FASB issued ASU No. 2017-08, which requires the amortization of the premium on callable debt securities to the earliest call date. The amortization period for callable debt securities pu rchased at a discount would not be impacted by the ASU. This ASU will be applied prospectively for annual and interim periods in fiscal years beginning after December 15, 2018. T he ASU is not expected to have a material impact on the Company's consolidated financial position or results of operations. At June 30, 2017, the Company does not have callable debt securities. Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), Health and Welfare Benefit Plans (Topic 965): Employee Benefit Plan Master Trust Reporting (a consensus of the Emerging Issues Task Force). In February 2017, the FASB issued ASU No. 2017-06, which intended to reduce diversity and improve the usefulness of information provided by employee benefit plans that hold interests in master trusts. This ASU will be applied prospectively for annual and interim peri ods in fiscal years beginning after December 15, 2018. The ASU is not expected to have a material impact on the Company's consolidated financial position or results of operations. Simplifying the Test for Goodwill Impairment. In January 2017, the FASB iss ued ASU No. 2017-04, which simplifies the measurement of goodwill impairment. An entity will no longer perform a hypothetical purchase price allocation to measure goodwill impairment. Instead, impairment will be measured using the difference between the ca rrying amount and the fair value of the reporting unit. This ASU will be applied prospectively for annual and interim periods in fiscal years beginning after December 15, 2019. We are currently assessing the impact that the adoption of ASU 2017-04 will hav e on our consolidated financial statements and related disclosures. Restricted Cash. In November 2016, the FASB issued ASU No. 2016-18, which amends Topic 230 (Statement of Cash Flows) and requires that a statement of cash flows explain the change durin g the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. ASU No. 2016-18 is intended to reduce diversity in practice in how restricted cash or restricted cash equivalents are pr esented and classified in the statement of cash flows. ASU No. 2016-18 is effective for fiscal years, and interim periods, beginning after December 15, 2017, with early adoption permitted. The standard requires application using a retrospective transition method. The adoption of ASU No. 2016-18 will change the presentation and classification of restricted cash and restricted cash equivalents in our consolidated statements of cash flows. Measurement of Credit Losses on Financial Instruments. In June 2016, t he FASB issued ASU No. 2016-13, which includes an impairment model (known as the current expected credit loss (CECL) model) that is based on expected losses rather than incurred losses. Under the new guidance, an entity recognizes as an allowance its estim ate of expected credit losses. ASU No. 2016-13 is effective for fiscal years, and interim periods, beginning after December 15, 2019. While we continue to assess the impact of ASU No. 2016-13, we have developed a roadmap with time schedules in place from 2 016 to implementation date. The Co mpany is in the process of assessing the methodology and the software to be used. Leases. In February 2016, the FASB issued ASU No. 2016-02, which requires lessees to recognize a right-of-use asset and related lease liabi lity for leases classified as operating leases at the commencement date that have lease terms of more than 12 months. This ASU retains the classification distinction between finance leases and operating leases. ASU No. 2016-02 is effective for fiscal years , and interim periods, beginning after December 15, 2018. We are currently assessing the impact the adoption of ASU 2016-02 will have on our consolidated financial statements and related disclosures. Revenue from Contracts with Customers. In May 2014, the FASB issued ASU No. 2014-09, which supersedes the revenue recognition requirements Topic 605 (Revenue Recognition), and most industry-specific guidance. ASU No. 2014-09 is based on the principle that revenue is recognized to depict the transfer of goods o r services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU No. 2014-09 also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. ASU No. 2014-09 permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (modified retrospective method). In August 2015, the FASB iss ued ASU No. 2015-14 to defer the effective date of ASU No. 2014-09 by one year to fiscal years beginning after December 15, 2017. ASU No. 2015-14 also permits early adoption of ASU No. 2014-09, but not before the original effective date, which was for fisc al years beginning after December 15, 2016. While the new guidance does not apply to revenue associated with loans or securities, the Co mpany has been working to identify the customer contracts within the scope of the new guidance and assess the related re venues to determine if any accounting or internal control changes will be required for the new provisions. While the assessment is not complete, the timing of the Co mpany ’s revenue recognition is not expected t o materially change. Overall, the Co mpany does not expect the new guidance to have a material impact on its consolidated financial position or results of operations. The next phase of the Co mpany ’s implementation work will be to evaluate required disclosures to be in compliance with the standard . Other than the accounting pronouncements disclosed above, there are no other new accounting pronouncements issued during the first quarter of 2017 that could have a material impact on the Company's financial position, operating results or financial state ments disclosures. |
Resticted Cash
Resticted Cash | 6 Months Ended |
Jun. 30, 2017 | |
Restricted Cash And Investments Abstract | |
Resticted Cash Disclosure | NOTE 2 – RESTRICTED CASH The following table includes the composition of the Company’s restricted cash : June 30, December 31, 2017 2016 (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 1,050 $ 3,030 $ 3,030 At June 30 , 2017 , the Bank’s international banking entities, Oriental International Bank Inc. (“OIB”) and Oriental Overseas, a division of the Bank, held an unencumbered certificate of deposit and other short-term highly liquid securities in the amount of $ 300 thousand and $ 325 thousand, respectively, as the legal reserve required for international banking entities under Puerto Rico law. At December 31 , 2016 , the y held an unencumbered certificate of deposit and other short-term highly liquid securities in the amount of $300 thousand as the required legal reserve . The certificate of deposit and other securities cannot be withdrawn or sold by OIB or Oriental Overseas without prior written approval of the Office of the Commissioner of Financial Institutions (" OCFI ") . As part of its derivative activities, the Company has entered into collateral agreements with certain financial counterparties. At both June 30 , 2017 and December 31 , 2016 , the Company had de livered approximately $2.0 million of cash as collateral for such 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 l oans sold with recourse. At both June 30 , 2017 and December 31 , 2016 , the Company delivered as collateral cash amounting to approximately $1.1 million . The Bank is required by Puerto Rico law to maintain average weekly reserve balances to cover demand deposits. The amount of those minimum average reserve balances for the week that covered June 30 , 2017 was $ 16 3 . 2 million ( December 31 , 2016 - $ 161.0 million). At June 30 , 2017 and December 31 , 2016 , the Bank complied with the requi rement. Cash and due from bank as well as other short-term, highly liquid securities are used to cover the required average reserve balances. |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2017 | |
Investments [Abstract] | |
Investments Securities | NOTE 3 – INVESTMENT SECURITIES Money Market Investments The Company considers as cash equivalents all money market instruments that are not pledged and that have maturities of three months or less at the date of acquisition. At June 30 , 2017 and December 31 , 2016 , money market instruments included as part of cash and cash equivalents amounted to $6.5 million and $ 5.6 million, respectively. Investment Securities The amortized cost, gross unrealized gains and losses, fair value, and weighted average yield of the securities owned by the Company at June 30 , 2017 and December 31 , 2016 were as follows: June 30, 2017 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 $ 346,388 $ 2,102 $ 1,797 $ 346,693 2.35% GNMA certificates 145,538 1,633 487 146,684 2.93% CMOs issued by US government-sponsored agencies 92,622 10 1,078 91,554 1.89% Total mortgage-backed securities 584,548 3,745 3,362 584,931 2.42% Investment securities US Treasury securities 55,031 3 44 54,990 1.13% Obligations of US government-sponsored agencies 3,353 - 27 3,326 1.38% Obligations of Puerto Rico government and public instrumentalities 4,680 - 339 4,341 5.55% Other debt securities 1,668 71 - 1,739 3.00% Total investment securities 64,732 74 410 64,396 1.51% Total securities available for sale $ 649,280 $ 3,819 $ 3,772 $ 649,327 2.33% Held-to-maturity Mortgage-backed securities FNMA and FHLMC certificates $ 555,407 $ 212 $ 6,024 $ 549,595 2.11% December 31, 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 $ 422,168 $ 6,354 $ 3,036 $ 425,486 2.59% GNMA certificates 163,614 2,241 620 165,235 2.95% CMOs issued by US government-sponsored agencies 103,990 64 2,223 101,831 1.88% Total mortgage-backed securities 689,772 8,659 5,879 692,552 2.57% Investment securities US Treasury securities 49,672 - 618 49,054 1.73% Obligations of US government-sponsored agencies 3,903 - 19 3,884 1.38% Obligations of Puerto Rico government and public instrumentalities 4,680 - 607 4,073 5.55% Other debt securities 1,840 81 - 1,921 3.00% Total investment securities 60,095 81 1,244 58,932 2.04% Total securities available-for-sale $ 749,867 $ 8,740 $ 7,123 $ 751,484 2.53% Held-to-maturity Mortgage-backed securities FNMA and FHLMC certificates $ 599,884 $ 145 $ 7,266 $ 592,763 2.15% The amortized cost and fair value of the Company’s investment securities at June 30 , 2017 , by contractual maturity, are shown in the next table. Securities not due on a single contractual maturity date, such as collateralized mortgage obligations, are classified in the period of final contractual maturity. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. June 30, 2017 Available-for-sale Held-to-maturity Amortized Cost Fair Value Amortized Cost Fair Value (In thousands) Mortgage-backed securities Due from 1 to 5 years FNMA and FHLMC certificates $ 8,102 $ 8,185 $ - $ - Total due from 1 to 5 years 8,102 8,185 - - Due after 5 to 10 years CMOs issued by US government-sponsored agencies $ 70,850 $ 70,047 $ - $ - FNMA and FHLMC certificates 69,364 69,403 - - Total due after 5 to 10 years 140,214 139,450 - - Due after 10 years FNMA and FHLMC certificates $ 268,922 $ 269,105 $ 555,407 $ 549,595 GNMA certificates 145,538 146,684 - - CMOs issued by US government-sponsored agencies 21,772 21,507 - - Total due after 10 years 436,232 437,296 555,407 549,595 Total mortgage-backed securities 584,548 584,931 555,407 549,595 Investment securities Due less than one year US Treasury securities $ 45,092 $ 45,095 $ - $ - Total due in less than one year 45,092 45,095 - - Due from 1 to 5 years US Treasury securities $ 9,939 $ 9,895 $ - $ - Obligations of US government and sponsored agencies 3,353 3,326 - - Obligations of Puerto Rico government and public instrumentalities 4,680 4,341 - - Total due from 1 to 5 years 17,972 17,562 - - Due from 5 to 10 years Other debt securities 1,668 1,739 - - Total due after 5 to 10 years 1,668 1,739 - - Total investment securities 64,732 64,396 - - Total $ 649,280 $ 649,327 $ 555,407 $ 549,595 During the six-month period ended June 30 , 2017 the Company retained securitized GNMA pools totaling $ 49.8 million amortized cost, at a yield of 3.15 % from its own origination s while during the six-month period end ed June 30, 2016 that amount totaled $ 54.2 million, amortized cost, at a yield of 3.01 %. During the six-month period ended June 30 , 2017 , the Company sold $166.0 million o f mortgage-backed securities and $ 39.3 million of Puerto Rico government bonds, and recorded a net gain on sale o f securities of $ 6.9 million . During the six-month period ended June 30 , 2016 , the Company sold $277.2 million on mortgage-backed securities and $11.1 million of Puerto Rico government bonds, and recorded a net gain on sale of securities of $12.2 mill ion. Six-Month Period Ended June 30, 2017 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 $ 107,510 $ 102,311 $ 5,199 $ - GNMA certificates 65,284 63,704 1,580 - Investment securities US Treasury securities 39,409 39,297 112 - Total $ 212,203 $ 205,312 $ 6,891 $ - Six-Month Period Ended June 30, 2016 Book Value Description Sale Price at Sale Gross Gains Gross Losses (In thousands) Sale of securities available-for-sale Mortgage-backed securities FNMA and FHLMC certificates $ 293,505 $ 277,181 $ 16,324 $ - Investment securities Obligations of PR government and public instrumentalities 6,978 11,095 - 4,117 Total mortgage-backed securities $ 300,483 $ 288,276 $ 16,324 $ 4,117 The following tables sho w the Company’s gross unrealized losses and fair value of investment securities available-for-sale and held-to-maturity, aggregated by investment category and the length of time that individual securities have been in a continuo us unrealized loss position at June 30 , 2017 and December 31 , 2016 : June 30, 2017 12 months or more Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies $ 30,309 $ 342 $ 29,967 Obligations of US government and sponsored agencies 3,353 27 3,326 Obligations of Puerto Rico government and public instrumentalities 4,680 339 4,341 $ 38,342 $ 708 $ 37,634 Securities held to maturity FNMA and FHLMC certificates $ 6,753 $ 164 $ 6,589 Less than 12 months Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies $ 61,115 $ 736 $ 60,379 FNMA and FHLMC certificates 164,473 1,797 162,676 GNMA certificates 30,437 487 29,950 US Treausury Securities 10,263 44 10,219 $ 266,288 $ 3,064 $ 263,224 Securities held-to-maturity FNMA and FHLMC Certificates $ 471,100 $ 5,860 $ 465,240 Total Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies $ 91,424 $ 1,078 $ 90,346 FNMA and FHLMC certificates 164,473 1,797 162,676 Obligations of Puerto Rico government and public instrumentalities 4,680 339 4,341 Obligations of US government and sponsored agencies 3,353 27 3,326 GNMA certificates 30,437 487 29,950 US Treausury Securities 10,263 44 10,219 $ 304,630 $ 3,772 $ 300,858 Securities held-to-maturity FNMA and FHLMC certificates $ 477,853 $ 6,024 $ 471,829 December 31, 2016 12 months or more Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale Obligations of Puerto Rico government and public instrumentalities $ 4,680 $ 607 $ 4,073 CMOs issued by US government-sponsored agencies 33,883 793 33,090 $ 38,563 $ 1,400 $ 37,163 Less than 12 months Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies 67,777 1,430 66,347 FNMA and FHLMC certificates 184,782 3,036 181,746 Obligations of US government and sponsored agencies 3,903 19 3,884 GNMA certificates 29,445 620 28,825 US Treausury Securities 49,172 618 48,554 $ 335,079 $ 5,723 $ 329,356 Securities held to maturity FNMA and FHLMC certificates $ 525,258 $ 7,266 $ 517,992 Total Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies 101,660 2,223 99,437 FNMA and FHLMC certificates 184,782 3,036 181,746 Obligations of Puerto Rico government and public instrumentalities 4,680 607 4,073 Obligations of US government and sponsored agencies 3,903 19 3,884 GNMA certificates 29,445 620 28,825 US Treausury Securities 49,172 618 48,554 $ 373,642 $ 7,123 $ 366,519 Securities held to maturity FNMA and FHLMC certificates $ 525,258 $ 7,266 $ 517,992 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 ($ 777 .8 million, amortized cost, or 99. 4 %) with an unre alized loss position at June 30 , 2017 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 lo sses 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 sole exposure to PR bond ($ 4.7 million, amortiz ed cost, or 0. 6 %) with an unrealized loss position at June 30 , 2017 consists of an obligation issued by the Puerto Rico Highways and Transportation Authority ("PRHTA") secured by a pledge of toll revenues from the Teodoro Moscoso Bridge operated throu gh a public-private partnership. The decline in the market value of this security is mainly attributed to the significant economic and fiscal challenges that Puerto Rico is facing, which is expected to result in a significant restructuring of the governmen t under the supervision of a federally created Fiscal Oversight Board. All other Puerto Rico government securities were sold during the first quarter of 2016. The PRHTA bond had an aggregate fair value of $ 4.3 million at June 30 , 2017 (93% of the bond 's amortized cost) and matures on July 1, 2018. The discounted cash flow analysis for the investment showed a cumulative default probability at maturity of 6.4 %, thus reflecting that it is more likely than not that the bond will not default during its rema ining 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 June 30 , 2017 . Also, the Company’s conclusion is based on the assessment of the specific source of repayment of the outstanding bond, which continues to perform. PRHTA started principal repayments on July 1, 2014. All scheduled principal and interest payment s to date have been collected. On July 1, 2017, the Company received a scheduled principal payment of $ 2.2 million. As a result of the aforementioned analysis, no other-than-temporary losses were recorded during the period ended June 30, 2017 . As of June 30 , 2017 , the Company performed a cash flow analysis of its Puerto Rico government bond to calculate the cash flows expected to be collected and determine if any portion of the decline in market value of this investment was considered an other-than-t emporary impairment. The analysis derives an estimate of value based on the present value of risk-adjusted future cash flows of the underlying investment, and included the following components: The contractual future cash flows of the bond are projected b ased on the key terms as set forth in the official statements for the investment. Such key terms include among others the interest rate, amortization schedule, if any, and maturity date. The risk-adjusted cash flows are calculated based on a monthly defaul t probability and recovery rate assumptions based on the credit rating of the investment. Constant monthly default rates are assumed throughout the life of the bond which is based on the respective security’s credit rating as of the date of the analysis. T he adjusted future cash flows are then discounted at the original effective yield of the investment based on the purchase price and expected risk-adjusted future cash flows as of the purchase date of the investment. The following table presents a rollfor ward of credit-related impairment losses recognized in earnings for the six-month period s ended June 30 , 2017 and 2016 on available-for-sale securities Six-Month Period Ended June 30, 2017 2016 (In thousands) Balance at beginning of period $ - $ 1,490 Reductions for securities sold during the period (realized) - (1,490) Balance at end of period $ - $ - |
Loans Receivable
Loans Receivable | 6 Months Ended |
Jun. 30, 2017 | |
Loans Receivable [Abstract] | |
LOANS RECEIVABLE | NOTE 4 - LOANS The Company’s loan portfolio is composed of two segments, loans initially accounted for under the amortized cost method (referred to as "originated and other" loans) and loans acquired (referred to as "acquired" loans). Acquired loans are further segregated between acquired BBVAPR loans and acquired Eurobank loans. Acquired Eurobank loans were purchased subject to loss-sharing agreements with the FDIC , which were terminated on February 6, 2017. The composition of the Company’s loan portfolio at June 30 , 2017 and December 31 , 2016 was as follows : June 30, December 31, 2017 2016 (In thousands) Originated and other loans and leases held for investment: Mortgage $ 699,290 $ 721,494 Commercial 1,270,844 1,277,866 Consumer 314,267 290,515 Auto and leasing 807,204 756,395 3,091,605 3,046,270 Allowance for loan and lease losses on originated and other loans and leases (69,666) (59,300) 3,021,939 2,986,970 Deferred loan costs, net 6,574 5,766 Total originated and other loans loans held for investment, net 3,028,513 2,992,736 Acquired loans: Acquired BBVAPR loans: Accounted for under ASC 310-20 (Loans with revolving feature and/or acquired at a premium) Commercial 5,350 5,562 Consumer 30,233 32,862 Auto 33,661 53,026 69,244 91,450 Allowance for loan and lease losses on acquired BBVAPR loans accounted for under ASC 310-20 (3,348) (4,300) 65,896 87,150 Accounted for under ASC 310-30 (Loans acquired with deteriorated credit quality, including those by analogy) Mortgage 544,325 569,253 Commercial 266,002 292,564 Consumer 2,163 4,301 Auto 58,078 85,676 870,568 951,794 Allowance for loan and lease losses on acquired BBVAPR loans accounted for under ASC 310-30 (37,494) (31,056) 833,074 920,738 Total acquired BBVAPR loans, net 898,970 1,007,888 Acquired Eurobank loans: Loans secured by 1-4 family residential properties 70,329 73,018 Commercial 66,894 81,460 Consumer 1,256 1,372 Total acquired Eurobank loans 138,479 155,850 Allowance for loan and lease losses on Eurobank loans (21,787) (21,281) Total acquired Eurobank loans, net 116,692 134,569 Total acquired loans, net 1,015,662 1,142,457 Total held for investment, net 4,044,175 4,135,193 Mortgage loans held-for-sale 14,044 12,499 Other loans held for sale 33,647 - Total loans, net $ 4,091,866 $ 4,147,692 Originated and Other Loans and Leases Held for Investment The Company’s originated and other loans held for investment are encompassed within four portfolio segments: mortgage, commercial, consumer, and auto and leasing. The following tables present the aging of the recorded investment in gross originated and other loans held for investment a t June 30 , 2017 and December 31 , 2016 , by class of loans. Mortgage loans past due include delinquent loans in the GNMA buy-back option program. Servicers of loans underlying GNMA mortgage-backed securities must report as their own assets the defaulted loans that they have the option (but not the obligation) to repurchase, even when they elect not to exercise that option . June 30, 2017 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 $ 193 $ 1,406 $ 2,930 $ 4,529 $ - $ 43,252 $ 47,781 $ 168 Years 2003 and 2004 333 3,162 6,319 9,814 299 76,028 86,141 - Year 2005 106 2,247 3,500 5,853 284 39,796 45,933 - Year 2006 262 1,641 5,882 7,785 185 56,871 64,841 - Years 2007, 2008 and 2009 435 1,693 8,653 10,781 38 60,375 71,194 335 Years 2010, 2011, 2012, 2013 324 1,506 6,845 8,675 - 124,191 132,866 164 Years 2014, 2015, 2016 and 2017 - 184 1,380 1,564 - 115,824 117,388 - 1,653 11,839 35,509 49,001 806 516,337 566,144 667 Non-traditional - 161 4,303 4,464 - 16,011 20,475 - Loss mitigation program 11,348 7,291 13,806 32,445 2,921 67,744 103,110 1,217 13,001 19,291 53,618 85,910 3,727 600,092 689,729 1,884 Home equity secured personal loans - - - - - 332 332 - GNMA's buy-back option program - - 9,229 9,229 - - 9,229 - 13,001 19,291 62,847 95,139 3,727 600,424 699,290 1,884 Commercial Commercial secured by real estate: Corporate - - - - - 226,979 226,979 - Institutional - - 254 254 - 46,806 47,060 - Middle market - - 3,601 3,601 634 224,571 228,806 - Retail 1,350 1,242 8,301 10,893 4,496 230,863 246,252 - Floor plan - - - - - 2,916 2,916 - Real estate - - - - - 15,783 15,783 - 1,350 1,242 12,156 14,748 5,130 747,918 767,796 - Other commercial and industrial: Corporate - - - - - 161,839 161,839 - Institutional - - - - - 128,479 128,479 - Middle market 881 - - 881 1,227 84,158 86,266 - Retail 327 848 1,300 2,475 695 85,673 88,843 - Floor plan - - 53 53 - 37,568 37,621 - 1,208 848 1,353 3,409 1,922 497,717 503,048 - 2,558 2,090 13,509 18,157 7,052 1,245,635 1,270,844 - June 30, 2017 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 $ 442 $ 288 $ 636 $ 1,366 $ - $ 26,308 $ 27,674 $ - Overdrafts 29 13 20 62 - 167 229 - Personal lines of credit 59 - 29 88 - 2,188 2,276 - Personal loans 2,693 1,752 1,096 5,541 699 262,728 268,968 - Cash collateral personal loans 216 3 - 219 - 14,901 15,120 - 3,439 2,056 1,781 7,276 699 306,292 314,267 - Auto and leasing 45,914 20,458 8,205 74,577 90 732,537 807,204 - Total $ 64,912 $ 43,895 $ 86,342 $ 195,149 $ 11,568 $ 2,884,888 $ 3,091,605 $ 1,884 December 31, 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 $ 196 $ 2,176 $ 3,371 $ 5,743 $ - $ 44,542 $ 50,285 $ 158 Years 2003 and 2004 156 3,872 7,272 11,300 181 79,226 90,707 - Year 2005 - 1,952 4,306 6,258 180 43,571 50,009 - Year 2006 506 2,905 6,261 9,672 94 59,534 69,300 - Years 2007, 2008 and 2009 409 1,439 11,732 13,580 111 63,038 76,729 398 Years 2010, 2011, 2012, 2013 349 1,772 10,417 12,538 126 127,196 139,860 583 Years 2014, 2015 and 2016 47 123 1,357 1,527 - 106,672 108,199 - 1,663 14,239 44,716 60,618 692 523,779 585,089 1,139 Non-traditional - 498 4,730 5,228 - 17,631 22,859 - Loss mitigation program 8,911 7,205 16,541 32,657 3,599 67,272 103,528 1,724 10,574 21,942 65,987 98,503 4,291 608,682 711,476 2,863 Home equity secured personal loans - - - - - 337 337 - GNMA's buy-back option program - - 9,681 9,681 - - 9,681 - 10,574 21,942 75,668 108,184 4,291 609,019 721,494 2,863 Commercial Commercial secured by real estate: Corporate - - - - - 242,770 242,770 - Institutional - - 254 254 - 26,546 26,800 - Middle market - 60 3,319 3,379 1,304 230,298 234,981 - Retail 154 350 6,594 7,098 4,638 237,992 249,728 - Floor plan - - - - - 2,989 2,989 - Real estate - - - - - 16,395 16,395 - 154 410 10,167 10,731 5,942 756,990 773,663 - Other commercial and industrial: Corporate - - - - - 136,438 136,438 - Institutional - - - - - 180,285 180,285 - Middle market - - - - 1,278 80,355 81,633 - Retail 930 100 969 1,999 294 71,412 73,705 - Floor plan 8 - 61 69 - 32,073 32,142 - 938 100 1,030 2,068 1,572 500,563 504,203 - 1,092 510 11,197 12,799 7,514 1,257,553 1,277,866 - December 31, 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 $ 527 $ 283 $ 525 $ 1,335 $ - $ 25,023 $ 26,358 $ - Overdrafts 16 12 5 33 - 174 207 - Personal lines of credit 41 4 32 77 - 2,327 2,404 - Personal loans 2,474 1,489 1,081 5,044 259 240,969 246,272 - Cash collateral personal loans 240 20 4 264 - 15,010 15,274 - 3,298 1,808 1,647 6,753 259 283,503 290,515 - Auto and leasing 42,714 19,014 8,173 69,901 181 686,313 756,395 - Total $ 57,678 $ 43,274 $ 96,685 $ 197,637 $ 12,245 $ 2,836,388 $ 3,046,270 $ 2,863 At June 30 , 2017 and December 31 , 2016 , the Company had carrying balance of $ 13 2 . 2 million and $ 136.6 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 originated and other loans granted to the Puerto Rico government are general obligations of municipalities secured by ad valorem taxation, without limitation a s to rate or amount, on all taxable property within the issuing municipalities. The good faith, credit and unlimited taxing power of each issuing municipality are pledged for the payment of its general obligations. On June 30, 2017, the Company was opportunistic and entered into an agreement to sell a performing originated municipal loan, which was due in July 2018, for $ 28.8 million. The sale reduced near-term risk associated with a likely refinancing. The loan was moved to other loans held-for-sale at June 30, 2017 with a balance of $33.7 million, and included a principal payment of $ 4.8 million received by the Company in July 1, 2017 . The sale tran saction settled in July 5, 2017 . In addition, on July 1, 2017, the Company received $ 3.7 million principal payments from the remaining municipal loans. 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 acquisitions, BBVAPR and Eurobank. Acquired BBVAPR Loans Accounted for under ASC 310-20 (Loans with revolving feature and/or acquired at a premium) Credit ca rds, 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 under the guidance of ASC 310-20, which requires that any contractually required loan payment rec eivable in excess of the Company’s initial investment in the loans be accreted into interest income on a level-yield basis over the life of the loan. Loans accounted for under ASC 310-20 are placed on non-accrual status when past due in accordance with the Company’s non-accrual policy, and any accretion of discount or amortization of premium is discontinued. 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 reportin g period upon refinancing, renewal or normal re-underwriting. The following tables present the aging of the recorded investment in gross acquired BBVAPR loans accounted for under ASC 310-20 as of June 30 , 2017 and December 31, 2016 , by class of lo ans: June 30, 2017 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 $ 28 $ - $ 98 $ 126 $ - $ - $ 126 $ - Floor plan - - 959 959 - 1,148 2,107 - 28 - 1,057 1,085 - 1,148 2,233 - Other commercial and industrial Retail 50 32 45 127 - 2,988 3,115 - Floor plan - - 2 2 - - 2 - 50 32 47 129 - 2,988 3,117 - 78 32 1,104 1,214 - 4,136 5,350 - Consumer Credit cards 676 203 489 1,368 - 26,206 27,574 - Personal loans 133 10 47 190 - 2,469 2,659 - 809 213 536 1,558 - 28,675 30,233 - Auto 2,435 1,231 325 3,991 - 29,670 33,661 - Total $ 3,322 $ 1,476 $ 1,965 $ 6,763 $ - $ 62,481 $ 69,244 $ - December 31, 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 $ 33 $ - $ 110 $ 143 $ - $ - $ 143 $ - Floor plan - - 219 219 929 1,242 2,390 - 33 - 329 362 929 1,242 2,533 - Other commercial and industrial Retail 97 34 121 252 - 2,775 3,027 - Floor plan - - 2 2 - - 2 - 97 34 123 254 - 2,775 3,029 - 130 34 452 616 929 4,017 5,562 - Consumer Credit cards 736 369 708 1,813 - 28,280 30,093 - Personal loans 48 14 120 182 - 2,587 2,769 - 784 383 828 1,995 - 30,867 32,862 - Auto 3,652 1,355 517 5,524 15 47,487 53,026 - Total $ 4,566 $ 1,772 $ 1,797 $ 8,135 $ 944 $ 82,371 $ 91,450 $ - Acquired BBVAPR Loans Accounted for under ASC 310-30 (including those accounted for under ASC 310-30 by analogy) Acquired BBVAPR loans, except for credit cards, retail and commercial revolving lines of credits, floor plans and performing auto loans with FICO scores over 660 acquired at a premium, are accounted for by the Company in accordance with ASC 310-30. The carrying amount corresponding to acquired BBVAPR loans with deteriorated credit quality, including those accounted under ASC 310-30 by analogy, in the statements of financial condition at June 30 , 2017 and December 31 , 2016 is as follows: June 30, December 31, 2017 2016 (In thousands) Contractual required payments receivable: $ 1,569,855 $ 1,669,602 Less: Non-accretable discount 366,762 363,107 Cash expected to be collected 1,203,093 1,306,495 Less: Accretable yield 332,525 354,701 Carrying amount, gross 870,568 951,794 Less: allowance for loan and lease losses 37,494 31,056 Carrying amount, net $ 833,074 $ 920,738 At June 30 , 2017 and December 31, 2016 , the Company had $ 66.6 million and $ 66.2 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. These loans are primarily secured municipal general obligations and a $ 10.6 million participation in a loan to the Puerto Rico Housing Finance Authority ("PRHFA") legally required to be repaid from abandoned or unclaimed funds at financial institutions that revert to the government under a Puerto Rico escheat law. Such loan defaulted on an annual principal payment in the third quarter of 2016. On July 1, 2017, the Company received $5.2 million principal payments from acquired BBVAPR loans to municipalities. The following tables describe the accretable yield and non-accretable discount activity of acquired BBVAPR loans accounted for under ASC 310-30 for the quarters and six-month periods ended June 30 , 2017 , and 2016 Quarter Ended June 30, 2017 Mortgage Commercial Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 276,817 $ 46,902 $ 6,583 $ 3,058 $ 333,360 Accretion (7,694) (4,513) (1,776) (556) (14,539) Change in expected cash flows 1 15,993 98 50 16,142 Transfer (to) from non-accretable discount 1,024 (2,344) (52) (1,066) (2,438) Balance at end of period $ 270,148 $ 56,038 $ 4,853 $ 1,486 $ 332,525 Non-Accretable Discount Activity: Balance at beginning of period $ 309,993 $ 14,803 $ 22,564 $ 18,159 $ 365,519 Change in actual and expected losses (2,465) (280) 1,344 206 (1,195) Transfer from (to) accretable yield (1,024) 2,344 52 1,066 2,438 Balance at end of period $ 306,504 $ 16,867 $ 23,960 $ 19,431 $ 366,762 Six-Month Period Ended June 30, 2017 Mortgage Commercial Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 292,115 $ 50,366 $ 8,538 $ 3,682 $ 354,701 Accretion (15,584) (9,494) (3,923) (1,158) (30,159) Change in expected cash flows 2 16,191 150 86 16,429 Transfer (to) from non-accretable discount (6,385) (1,025) 88 (1,124) (8,446) Balance at end of period $ 270,148 $ 56,038 $ 4,853 $ 1,486 $ 332,525 Non-Accretable Discount Activity: Balance at beginning of period $ 305,615 $ 16,965 $ 22,407 $ 18,120 $ 363,107 Change in actual and expected losses (5,496) (1,123) 1,641 187 (4,791) Transfer from (to) accretable yield 6,385 1,025 (88) 1,124 8,446 Balance at end of period $ 306,504 $ 16,867 $ 23,960 $ 19,431 $ 366,762 Quarter Ended June 30, 2016 Mortgage Commercial Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 260,557 $ 57,258 $ 17,587 $ 5,261 $ 340,663 Accretion (8,294) (6,579) (3,616) (870) (19,359) Change in actual and expected losses - 2,654 630 (1) 3,283 Transfer from (to) non-accretable discount 31,560 (1,026) (498) 495 30,531 Balance at end of period $ 283,823 $ 52,307 $ 14,103 $ 4,885 $ 355,118 Non-Accretable Discount Activity: Balance at beginning of period $ 370,155 $ 18,148 $ 21,938 $ 18,735 $ 428,976 Change in actual and expected losses (2,442) (1,173) (315) (15) (3,945) Transfer (to) from accretable yield (31,560) 1,026 498 (495) (30,531) Balance at end of period $ 336,153 $ 18,001 $ 22,121 $ 18,225 $ 394,500 Six-Month Period Ended June 30, 2016 Mortgage Commercial Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 268,794 $ 65,026 $ 21,578 $ 6,290 $ 361,688 Accretion (16,601) (14,287) (7,827) (1,808) (40,523) Change in actual and expected losses - 2,982 631 (1) 3,612 Transfer (to) from non-accretable discount 31,630 (1,414) (279) 404 30,341 Balance at end of period $ 283,823 $ 52,307 $ 14,103 $ 4,885 $ 355,118 Non-Accretable Discount Activity: Balance at beginning of period $ 374,772 $ 18,545 $ 22,039 $ 18,834 $ 434,190 Change in actual and expected losses (6,989) (1,958) (197) (205) (9,349) Transfer from (to) accretable yield (31,630) 1,414 279 (404) (30,341) Balance at end of period $ 336,153 $ 18,001 $ 22,121 $ 18,225 $ 394,500 Acquired Eurobank Loans The carrying amount of acquired Eurobank loans at June 30 , 2017 and December 31 , 2016 is as follows: June 30 December 31 2017 2016 (In thousands) Contractual required payments receivable: $ 201,564 $ 232,698 Less: Non-accretable discount 9,010 12,340 Cash expected to be collected 192,554 220,358 Less: Accretable yield 54,075 64,508 Carrying amount, gross 138,479 155,850 Less: Allowance for loan and lease losses 21,787 21,281 Carrying amount, net $ 116,692 $ 134,569 The following tables describe the accretable yield and non-accretable discount activity of acquired Eurobank loans for the quarters and six-month period s ended June 30 , 2017 , and 2016 : Quarter Ended June 30, 2017 Loans Secured by 1-4 Family Residential Properties Commercial Construction & Development Secured by 1-4 Family Residential Properties Leasing Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 44,697 12,743 1,871 - - 59,311 Accretion (1,923) (4,061) (5) (11) (37) (6,037) Change in expected cash flows 19 543 6 (22) 74 620 Transfer from (to) non-accretable discount 219 (68) 34 33 (37) 181 Balance at end of period $ 43,012 $ 9,157 $ 1,906 $ - $ - $ 54,075 Non-Accretable Discount Activity: Balance at beginning of period $ 7,426 2,471 333 - 6 10,236 Change in actual and expected losses (520) (529) - 33 (29) (1,045) Transfer from (to) accretable yield (219) 68 (34) (33) 37 (181) Balance at end of period $ 6,687 $ 2,010 $ 299 $ - $ 14 $ 9,010 Six-Month Period Ended June 30, 2017 Loans Secured by 1-4 Family Residential Properties Commercial Construction & Development Secured by 1-4 Family Residential Properties Leasing Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 45,839 $ 16,475 $ 2,194 $ - $ - $ 64,508 Accretion (3,827) (8,571) (43) (11) (195) (12,647) Change in expected cash flows 100 1,321 43 (165) 384 1,683 Transfer from (to) non-accretable discount 900 (68) (288) 176 (189) 531 Balance at end of period $ 43,012 $ 9,157 $ 1,906 $ - $ - $ 54,075 Non-Accretable Discount Activity: Balance at beginning of period $ 8,441 $ 3,880 $ 11 $ - $ 8 $ 12,340 Change in actual and expected losses (854) (1,938) - 176 (183) (2,799) Transfer from (to) accretable yield (900) 68 288 (176) 189 (531) Balance at end of period $ 6,687 $ 2,010 $ 299 $ - $ 14 $ 9,010 Quarter Ended June 30, 2016 Loans Secured by 1-4 Family Residential Properties Commercial Construction & Development Secured by 1-4 Family Residential Properties Leasing Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 50,787 $ 33,203 $ 2,237 - $ - $ 86,227 Accretion (2,263) (4,528) (33) 2 (76) (6,898) Change in actual and expected losses (198) 1,619 - (77) 81 1,425 Transfer from (to) non-accretable discount 10 (1,152) - 75 (5) (1,072) Balance at end of period $ 48,336 $ 29,142 $ 2,204 $ - $ - $ 79,682 Non-Accretable Discount Activity: Balance at beginning of period $ 12,703 $ - $ - $ - $ - $ 12,703 Change in actual and expected losses (1,138) (1,152) - 75 (5) (2,220) Transfer (to) from accretable yield (10) 1,152 - (75) 5 1,072 Balance at end of period $ 11,555 $ - $ - $ - $ - $ 11,555 Six-Month Period Ended June 30, 2016 Loans Secured by 1-4 Family Residential Properties Commercial Construction & Development Secured by 1-4 Family Residential Properties Leasing Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 51,954 $ 26,970 $ 2,255 $ - $ 3,213 $ 84,392 Accretion (4,529) (8,623) (47) 2 (1,261) (14,458) Change in expected cash flows 786 12,712 (23) (77) (1,947) 11,451 Transfer from (to) non-accretable discount 125 (1,917) 19 75 (5) (1,703) Balance at end of period $ 48,336 $ 29,142 $ 2,204 $ - $ - $ 79,682 Non-Accretable Discount Activity: Balance at beginning of period $ 12,869 $ - $ - $ - $ 8,287 $ 21,156 Change in actual and expected cash flows (1,189) (1,917) 19 75 (8,292) (11,304) Transfer (to) from accretable yield (125) 1,917 (19) (75) 5 1,703 Balance at end of period $ 11,555 $ - $ - $ - $ - $ 11,555 Non-accrual Loans The following table presents the recorded investment in loans in non-accrual status by class of loans as of June 30 , 2017 and December 31 , 2016 : June 30, December 31, 2017 2016 (In thousands) Originated and other loans and leases held for investment Mortgage Traditional (by origination year): Up to the year 2002 $ 2,824 $ 3,336 Years 2003 and 2004 6,809 7,668 Year 2005 3,890 4,487 Year 2006 6,067 6,746 Years 2007, 2008 and 2009 8,633 11,526 Years 2010, 2011, 2012, 2013 6,680 10,089 Years 2014, 2015, 2016 and 2017 1,380 1,404 36,283 45,256 Non-traditional 4,303 4,730 Loss mitigation program 18,082 20,744 58,668 70,730 Commercial Commercial secured by real estate Institutional 254 - Middle market 4,236 4,682 Retail 14,239 11,561 18,729 16,243 Other commercial and industrial Middle market 2,108 1,278 Retail 2,629 1,950 Floor plan 53 61 4,790 3,289 23,519 19,532 Consumer Credit cards 636 525 Overdrafts 20 - Personal lines of credit 29 32 Personal loans 1,999 1,420 Cash collateral personal loans 3 4 2,687 1,981 Auto and leasing 8,295 9,052 Total non-accrual originated loans $ 93,169 $ 101,295 June 30, December 31, 2017 2016 (In thousands) Acquired BBVAPR loans accounted for under ASC 310-20 Commercial Commercial secured by real estate Retail $ 127 $ 143 Floor plan 959 1,149 1,086 1,292 Other commercial and industrial Retail 45 121 Floor plan 2 2 47 123 1,133 1,415 Consumer Credit cards 489 708 Personal loans 47 120 536 828 Auto 325 552 Total non-accrual acquired BBVAPR loans accounted for under ASC 310-20 1,994 2,795 Total non-accrual loans $ 95,163 $ 104,090 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 under the cost recovery method. Delinquent residential mortgage loans insured or guaranteed under applicable FHA and VA programs are classified as non-performing loans when they become 90 days or more past due , but are not placed in non-accrual status until they become 18 months or more past due, since they are insured loans. Therefore, these loans are included as non-performing loans but excluded from non-accrual loans. In addition, these loans are excluded fr om the impairment analysis. At June 30 , 2017 and December 31 , 2016 , loans whose terms have been extended and which are classified as troubled-debt restructurings that are not included in non-accrual loans amounted to $ 98 .7 million and $ 98 .1 million, respectively, as they are performing under their new terms. 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 that were individually evaluated for impairment was $ 5 8 . 1 million and $ 54.3 million at June 30 , 2017 and December 31 , 2016 , respectively. The impairments on these commercial loans were measured based on the fair value of collateral or the present value of cash flows, including those identified as troubled-de bt restructurings . The allowance for loan and lease losses for these impaired commercial loans amounted to $ 1.9 million and $ 1.8 million at June 30 , 2017 and December 31 , 2016 , respectively. The total investment in impaired mortgage loans that were in dividually evaluated for impairment was $ 87 .0 million and $ 91.6 million at June 30 , 2017 and December 31 , 2016 , respectively. Impairment on mortgage loans assessed as troubled-debt restructurings was measured using the present value of cash flows. The allowance for loan losses for these impaired mortgage loans amounted to $ 8.6 million and $ 7.8 million at June 30 , 2017 and December 31 , 2016 , respectively. Originated and Other Loans and Leases Held for Investment The 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 allowance for loan and lease losses at June 30 , 2017 and December 31 , 2016 are as follows: June 30, 2017 Unpaid Recorded Related Principal Investment Allowance Coverage (In thousands) Impaired loans with specific allowance: Commercial $ 21,475 $ 19,486 $ 1,940 10% Residential impaired and troubled-debt restructuring 95,821 87,042 8,630 10% Impaired loans with no specific allowance: Commercial 44,367 37,842 N/A 0% Total investment in impaired loans $ 161,663 $ 144,370 $ 10,570 7% December 31, 2016 Unpaid Recorded Related Principal Investment Allowance Coverage (In thousands) Impaired loans with specific allowance: Commercial $ 13,183 $ 11,698 $ 1,626 14% Residential impaired and troubled-debt restructuring 100,101 91,650 7,761 8% Impaired loans with no specific allowance Commercial 49,038 41,441 N/A 0% Total investment in impaired loans $ 162,322 $ 144,789 $ 9,387 6% Acquired BBVAPR Loans Accounted for under ASC 310-20 (Loans with revolving feature and/or acquired at a premium) The Company’s recorded investment in acquired BBVAPR commercial loans accounted for under ASC 310-20 that were individually evaluated for impairment and the related allowance for loan and lease losses at June 30 , 2017 and December 31 , 2016 are as follows: June 30, 2017 Unpaid Recorded Related Principal Investment Allowance Coverage (In thousands) Impaired loans with specific allowance Commercial $ - $ - $ - 0% Impaired loans with no specific allowance Commercial $ 926 $ 761 N/A 0% Total investment in impaired loans $ 926 $ 761 $ - 0% December 31, 2016 Unpaid Recorded Specific Principal Investment Allowance Coverage (In thousands) Impaired loans with specific allowance Commercial $ 944 $ 929 $ 141 15% Impaired loans with no specific allowance Commercial $ 240 $ 221 N/A 0% Total investment in impaired loans $ 1,184 $ 1,150 $ 141 12% Acquired BBVAPR Loans Accounted for under ASC 310-30 (including those accounted for under ASC 310-30 by analogy) The Company’s recorded investment in acquired BBVAPR loan pools accounted for under ASC 310-30 that have recorded impairments and their related allowance for loan and lease losses at June 30 , 2017 and December 31 , 2016 are as follows : June 30, 2017 Coverage Unpaid Recorded to Recorded Principal Investment Allowance Investment (In thousands) Impaired loan pools with specific allowance: Mortgage $ 567,845 $ 544,326 $ 4,141 1% Commercial 224,838 217,495 25,614 12% Auto 58,132 58,078 7,739 13% Total investment in impaired loan pools $ 850,815 $ 819,899 $ 37,494 5% December 31 , 2016 Coverage Unpaid Recorded to Recorded Principal Investment Allowance Investment (In thousands) Impaired loan pools with specific allowance: Mortgage $ 595,757 $ 569,250 $ 2,682 0% Commercial 199,092 195,528 23,452 12% Auto 92,797 85,676 4,922 6% Total investment in impaired loan pools $ 887,646 $ 850,454 $ 31,056 4% The tables above only present information with respect to acquired BBVAPR loan pools accounted for under ASC 310-30 if there is a recorded impairment to such loan pools and a specific allowance for loan losses. Acquired Eurobank Loans The Company’s recorded investment in acquired Eurobank loan pools that have recorded impairments and their related allowance for loan and lease losses as of June 30 , 2017 and December 31 , 2016 are as follows : June 30, 2017 Coverage Unpaid Recorded to Recorded Principal Investment Allowance Investment (In thousands) Impaired loan pools with specific allowance: Loans secured by 1-4 family residential properties $ 83,293 $ 70,329 $ 13,651 19% Commercial 56,193 53,389 8,131 15% Consumer 14 1,256 5 0% Total investment in impaired loan pools $ 139,500 $ 124,974 $ 21,787 17% December 31, 2016 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 $ 88,017 $ 73,018 $ 11,947 16% Commercial 81,992 72,140 9,328 13% Consumer 29 1,372 6 0% Total investment in impaired loan pools $ 170,038 $ 146,530 $ 21,281 15% The tables above only present information with respect to acquired Eurobank loan pools accounted for under ASC 310-30 if there is a recorded impairment to such 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, which excludes loans accounted for under ASC 310-30, for the quarters and six-month periods ended June 30 , 2017 and 2016 : Quarter Ended June 30, 2017 2016 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 $ 193 $ 14,908 $ 75 $ 194,759 Residential troubled-debt restructuring 723 87,615 791 91,007 Impaired loans with no specific allowance Commercial 383 44,528 149 29,579 1,299 147,051 1,015 315,345 Acquired loans accounted for under ASC 310-20: Impaired loans with specific allowance Commercial - - - - Impaired loans with no specific allowance Commercial - 763 15 789 Total interest income from impaired loans $ 1,299 $ 147,814 $ 1,030 $ 316,134 Six-Month Period Ended June 30, 2017 2016 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 $ 385 $ 13,859 $ 150 $ 195,777 Residential troubled-debt restructuring 1,427 88,579 1,591 90,650 Impaired loans with no specific allowance Commercial 766 44,211 298 31,603 Total interest income from impaired loans $ 2,578 $ 146,649 $ 2,039 $ 318,030 Acquired loans accounted for under ASC 310-20: Impaired loans with specific allowance Commercial $ - $ - $ - $ - Impaired loans with no specific allowance Commercial - 840 30 628 Total interest income from impaired loans $ 2,578 $ 147,489 $ 2,069 $ 318,658 Modifications The following tables present the troubled-debt restructurings in all loan portfolios during the quarters and six-month periods ended June 30 , 2017 and 2016 . Quarter Ended June 30, 2017 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 27 $ 3,349 6.00% 382 $ 3,313 4.21% 367 Commercial 9 2,155 5.96% 55 2,155 5.12% 68 Consumer 37 477 12.83% 65 477 10.87% 68 Auto 4 66 6.39% 61 66 12.91% 37 Six-Month Period Ended June 30, 2017 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 59 $ 7,353 6.29% 387 $ 7,328 4.26% 378 Commercial 18 3,373 6.44% 55 3,374 5.41% 67 Consumer 62 869 11.98% 65 907 10.62% 70 Auto 7 111 7.41% 67 113 12.48% 38 Quarter Ended Ju |
Allowance for Loan and Lease Lo
Allowance for Loan and Lease Losses | 6 Months Ended |
Jun. 30, 2017 | |
Allowance for loan and lease losses [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 June 30 , 2017 and December 31 , 2016 was as follows : June 30, December 31, 2017 2016 (In thousands) Allowance for loans and lease losses: Originated and other loans and leases held for investment: Mortgage $ 18,664 $ 17,344 Commercial 17,279 8,995 Consumer 14,981 13,067 Auto and leasing 18,742 19,463 Unallocated - 431 Total allowance for originated and other loans and lease losses 69,666 59,300 Acquired BBVAPR loans: Accounted for under ASC 310-20 (Loans with revolving feature and/or acquired at a premium) Commercial 41 169 Consumer 2,623 3,028 Auto 684 1,103 3,348 4,300 Accounted for under ASC 310-30 (Loans acquired with deteriorated credit quality, including those by analogy) Mortgage 4,141 2,682 Commercial 25,614 23,452 Auto 7,739 4,922 37,494 31,056 Total allowance for acquired BBVAPR loans and lease losses 40,842 35,356 Acquired Eurobank loans: Loans secured by 1-4 family residential properties 13,651 11,947 Commercial 8,131 9,328 Consumer 5 6 Total allowance for acquired Eurobank loan and lease losses 21,787 21,281 Total allowance for loan and lease losses $ 132,295 $ 115,937 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. Allowance for Originated and Other Loan and Lease Losses Held for Investment The following tables presents the activity in our allowance for loan and lease losses and the related recorded investment of the originated and other loans held for invest ment portfolio by segment for the periods indicated: Quarter Ended June 30, 2017 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 $ 18,578 $ 9,888 $ 13,394 $ 18,621 $ 2 $ 60,483 Charge-offs (2,162) (4,841) (4,012) (7,775) - (18,790) Recoveries 63 136 780 4,176 - 5,155 Provision for originated and other loans and lease losses 2,185 12,096 4,819 3,720 (2) 22,818 Balance at end of period $ 18,664 $ 17,279 $ 14,981 $ 18,742 $ - $ 69,666 Six-Month Period Ended June 30, 2017 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 $ 17,344 $ 8,995 $ 13,067 $ 19,463 $ 431 $ 59,300 Charge-offs (4,541) (5,697) (7,368) (15,339) - (32,945) Recoveries 119 226 945 7,470 - 8,760 Provision for originated and other loans and lease losses 5,742 13,755 8,337 7,148 (431) 34,551 Balance at end of period $ 18,664 $ 17,279 $ 14,981 $ 18,742 $ - $ 69,666 June 30, 2017 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 $ 8,630 $ 1,940 $ - $ - $ - $ 10,570 Collectively evaluated for impairment 10,034 15,339 14,981 18,742 - 59,096 Total ending allowance balance $ 18,664 $ 17,279 $ 14,981 $ 18,742 $ - $ 69,666 Loans: Individually evaluated for impairment $ 87,042 $ 57,328 $ - $ - $ - $ 144,370 Collectively evaluated for impairment 612,248 1,213,516 314,267 807,204 - 2,947,235 Total ending loan balance $ 699,290 $ 1,270,844 $ 314,267 $ 807,204 $ - $ 3,091,605 Quarter Ended June 30, 2016 Mortgage Commercial Consumer Auto and Leasing Unallocated Total (In thousands) Allowance for loan and lease losses for originated and other loans: Balance at beginning of period $ 18,784 $ 64,206 $ 11,414 $ 18,716 $ 118 $ 113,238 Charge-offs (1,374) (833) (2,811) (8,100) - (13,118) Recoveries 36 228 133 3,243 - 3,640 Provision (recapture) for originated and other loan and lease losses 1,091 (457) 3,035 5,400 (17) 9,052 Balance at end of period $ 18,537 $ 63,144 $ 11,771 $ 19,259 $ 101 $ 112,812 Six-Month Period Ended June 30, 2016 Mortgage Commercial Consumer Auto and Leasing Unallocated Total (In thousands) Allowance for loan and lease losses for originated and other loans: Balance at beginning of period $ 18,352 $ 64,791 $ 11,197 $ 18,261 $ 25 $ 112,626 Charge-offs (3,036) (1,844) (5,138) (16,462) - (26,480) Recoveries 181 316 235 6,222 - 6,954 Provision (recapture) for originated and other loan and lease losses 3,040 (119) 5,477 11,238 76 19,712 Balance at end of period $ 18,537 $ 63,144 $ 11,771 $ 19,259 $ 101 $ 112,812 December 31, 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 $ 7,761 $ 1,626 $ - $ - $ - $ 9,387 Collectively evaluated for impairment 9,583 7,369 13,067 19,463 431 49,913 Total ending allowance balance $ 17,344 $ 8,995 $ 13,067 $ 19,463 $ 431 $ 59,300 Loans: Individually evaluated for impairment $ 91,650 $ 53,139 $ - $ - $ - $ 144,789 Collectively evaluated for impairment 629,844 1,224,727 290,515 756,395 - 2,901,481 Total ending loan balance $ 721,494 $ 1,277,866 $ 290,515 $ 756,395 $ - $ 3,046,270 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 accounted for under ASC 310-20, for the periods indicated : Quarter Ended June 30, 2017 Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Balance at beginning of period $ 183 $ 2,591 $ 841 $ 3,615 Charge-offs (126) (771) (205) (1,102) Recoveries 2 295 597 894 Provision (recapture) for acquired BBVAPR loan and lease losses accounted for under ASC 310-20 (18) 508 (549) (59) Balance at end of period $ 41 $ 2,623 $ 684 $ 3,348 Six-Month Period Ended June 30, 2017 Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Balance at beginning of year $ 169 $ 3,028 $ 1,103 $ 4,300 Charge-offs (132) (1,656) (483) (2,271) Recoveries 3 359 1,049 1,411 Provision (recapture) for acquired BBVAPR loan and lease losses accounted for under ASC 310-20 1 892 (985) (92) Balance at end of year $ 41 $ 2,623 $ 684 $ 3,348 June 30, 2017 Commercial Consumer Auto 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 41 2,623 684 3,348 Total ending allowance balance $ 41 $ 2,623 $ 684 $ 3,348 Loans: Individually evaluated for impairment $ 761 $ - $ - $ 761 Collectively evaluated for impairment 4,589 30,233 33,661 68,483 Total ending loan balance $ 5,350 $ 30,233 $ 33,661 $ 69,244 Quarter Ended June 30, 2016 Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Balance at beginning of period $ 23 $ 3,243 $ 1,727 $ 4,993 Charge-offs (12) (1,013) (571) (1,596) Recoveries 8 88 446 542 Provision (recapture) for acquired loan and lease losses accounted for under ASC 310-20 2 684 (138) 548 Balance at end of period $ 21 $ 3,002 $ 1,464 $ 4,487 Six-Month Period Ended June 30, 2016 Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Balance at beginning of year $ 26 $ 3,429 $ 2,087 $ 5,542 Charge-offs (19) (1,825) (1,308) (3,152) Recoveries 40 169 1,044 1,253 Provision (recapture) for acquired loan and lease losses accounted for under ASC 310-20 (26) 1,229 (359) 844 Balance at end of period $ 21 $ 3,002 $ 1,464 $ 4,487 December 31, 2016 Commercial Consumer Auto 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: Individually evaluated for impairment $ 141 $ - $ - $ 141 Collectively evaluated for impairment 28 3,028 1,103 4,159 Total ending allowance balance $ 169 $ 3,028 $ 1,103 $ 4,300 Loans: Individually evaluated for impairment $ 1,150 $ - $ - $ 1,150 Collectively evaluated for impairment 4,412 32,862 53,026 90,300 Total ending loan balance $ 5,562 $ 32,862 $ 53,026 $ 91,450 Loans Accounted for under ASC 310-30 (including those accounted for under ASC 310-30 by analogy) 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 following tables present the activity in our allowance for loan losses and related recorded investment of the acquired BBVAPR loan portfolio accounted for under ASC 310-30 for the periods indicated : Quarter Ended June 30, 2017 Mortgage Commercial 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 $ 3,573 $ 23,528 $ 7,829 $ 34,930 Provision for BBVAPR loans and lease losses accounted for under ASC 310-30 630 2,735 - 3,365 Allowance de-recognition (62) (649) (90) (801) Balance at end of period $ 4,141 $ 25,614 $ 7,739 $ 37,494 Six-Month Period Ended June 30, 2017 Mortgage Commercial 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 $ 2,682 $ 23,452 $ 4,922 $ 31,056 Provision (recapture) for BBVAPR loans and lease losses accounted for under ASC 310-30 1,552 2,958 3,186 7,696 Allowance de-recognition (93) (796) (369) (1,258) Balance at end of period $ 4,141 $ 25,614 $ 7,739 $ 37,494 Quarter Ended June 30, 2016 Mortgage Commercial Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-30: Balance at beginning of period $ 1,762 $ 20,430 $ 5,555 $ 27,747 Provision (recapture) for acquired BBVAPR loans and lease losses accounted for under ASC 310-30 (163) 3,977 - 3,814 Loan pools fully charged-off (14) - (202) (216) Allowance de-recognition - (8,544) - (8,544) Balance at end of period $ 1,585 $ 15,863 $ 5,353 $ 22,801 Six-Month Period Ended June 30, 2016 Mortgage Commercial 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 acquired BBVAPR loans and lease losses accounted for under ASC 310-30 (79) 3,228 2,693 5,842 Loan pools fully charged-off (14) (66) (202) (282) Allowance de-recogntion - (8,544) - (8,544) Balance at end of period $ 1,585 $ 15,863 $ 5,353 $ 22,801 Allowance for Acquired Eurobank Loan Losses The changes in the allowance for loan and lease losses on acquired Eurobank loans for the quarters and six-month periods ended June 30 , 2017 and 2016 were as follows: Quarter Ended June 30, 2017 Loans Secured by 1-4 Family Residential Properties Commercial Consumer Total (In thousands) Allowance for loan and lease losses for acquired Eurobank loans: Balance at beginning of period $ 14,168 $ 7,833 $ 5 $ 22,006 Provision for (recapture) acquired Eurobank loans and lease losses, net 474 (62) - 412 Allowance de-recognition (991) 360 - (631) Balance at end of period $ 13,651 $ 8,131 $ 5 $ 21,787 Six-Month Period Ended June 30, 2017 Loans Secured by 1-4 Family Residential Properties Commercial Consumer Total (In thousands) Allowance for loan and lease losses for acquired Eurobank loans: Balance at beginning of period $ 11,947 $ 9,328 $ 6 $ 21,281 Provision for (recapture) acquired Eurobank loans and lease losses, net 2,872 $ (840) - 2,032 Allowance de-recognition (1,168) (357) (1) (1,526) Balance at end of period $ 13,651 $ 8,131 $ 5 $ 21,787 Quarter Ended June 30, 2016 Loans secured by 1-4 Family Residential Properties Commercial Consumer Total (In thousands) Allowance for loan and lease losses for acquired Eurobank loans: Balance at beginning of period $ 23,961 $ 68,089 $ 243 $ 92,293 Provision for (recapture) acquired Eurobank loan and lease losses, net 237 801 (7) 1,031 Loan pools fully charged-off 951 - - 951 Allowance de-recognition (14,133) (57,794) (232) (72,159) Balance at end of period $ 11,016 $ 11,096 $ 4 $ 22,116 Six-Month Period Ended June 30, 2016 Loans secured by 1-4 Family Residential Properties Commercial Consumer Total (In thousands) Allowance for loan and lease losses for Eurobank loans: Balance at beginning of period $ 22,570 $ 67,365 $ 243 $ 90,178 Provision for (recapture) acquired Eurobank loan and lease losses, net 184 1,659 (7) 1,836 FDIC shared-loss portion of provision for covered loan and lease losses, net 2,395 - - 2,395 Loan pools fully charged-off - (134) - (134) Allowance de-recognition (14,133) (57,794) (232) (72,159) Balance at end of period $ 11,016 $ 11,096 $ 4 $ 22,116 |
FDIC Indemnification Asset and
FDIC Indemnification Asset and True-up Payment Obligation | 6 Months Ended |
Jun. 30, 2017 | |
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 On February 6, 2017, the Bank and the FDIC agreed to terminate the single family and commercial shared-loss agreements related to the FDIC assisted acquisition of Eurobank on April 30, 2010. As part of the loss share termination transaction, the Bank made a payment of $ 10.1 million to the FDIC and recorded a net benefit of $ 1.4 million. Such termination payment took into account the anticipated reimbursements ove r the life of the shared-loss agreements and the true-up payment liability of the Bank anticipated at the end of the ten year term of the single family shared-loss agreement. All rights and obligations of the parties under the shared-loss agreements termin ated as of the closing date of the agreement. Pursuant to the terms of the shared-loss agreements, the FDIC would reimburse the Bank for 80% of all qualifying losses with respect to assets covered by such agreements, and the Bank would reimburse the FDIC f or 80% of qualifying recoveries with respect to losses for which the FDIC reimbursed the Bank. The single family shared-loss agreement provided for FDIC loss sharing and the Bank’s reimbursement to the FDIC to last for ten years, and the commercial shared- loss agreement provided f or FDIC loss sharing and the Bank’s reimbursement to the FDIC to last for five years, with additional recovery sharing for three years thereafter. The following table presents the activity in the FDIC indemnification asset and tru e-up payment obligation for the quarters and six-month periods ended June 30 , 2017 and 2016 : Quarter Ended June 30, Six-Month Period Ended June 30, 2017 2016 2017 2016 (In thousands) FDIC indemnification asset: Balance at beginning of period $ - $ 20,923 $ 14,411 $ 22,599 Shared-loss agreements reimbursements from the FDIC - (332) - (737) Increase in expected credit losses to be covered under shared-loss agreements, net - 951 - 2,395 FDIC indemnification asset benefit (expense) - (1,405) 1,403 (4,269) Net expenses incurred under shared-loss agreements - (1,711) - (1,562) Shared-loss termination settlement - - (15,814) - Balance at end of period $ - $ 18,426 $ - $ 18,426 True-up payment obligation: Balance at beginning of period $ - $ 25,235 $ 26,786 $ 24,658 Change in true-up payment obligation - 537 - 1,114 Shared-loss termination settlement - - (26,786) - Balance at end of period $ - $ 25,772 $ - $ 25,772 The Company recognized an FDIC shared-loss (benefit) expense, net in the consolidated statements of operations, which consists of the following, for the quarters and six-month periods ended June 30 , 2017 and 2016 : Quarter Ended June 30, Six-Month Period Ended June 30, 2017 2016 2017 2016 (In thousands) FDIC indemnification asset expense (benefit) $ - $ 1,405 $ (1,403) $ 4,269 Change in true-up payment obligation - 537 - 1,114 Reimbursement to FDIC for recoveries - 1,478 - 2,066 Total FDIC shared-loss expense (benefit), net $ - $ 3,420 $ (1,403) $ 7,449 |
Derivative Activities
Derivative Activities | 6 Months Ended |
Jun. 30, 2017 | |
Derivative Activities [Abstract] | |
Derivative Acitivities | NOTE 7 — DERIVATIVES The following table presents the Company’s derivative assets and liabilities at June 30 , 2017 and December 31 , 2016 : June 30, December 31, 2017 2016 (In thousands) Derivative assets: Interest rate swaps not designated as hedges $ 893 $ 1,187 Interest rate caps 64 143 $ 957 $ 1,330 Derivative liabilities: Interest rate swaps designated as cash flow hedges 923 1,004 Interest rate swaps not designated as hedges 893 1,187 Interest rate caps 65 139 Other - 107 $ 1,881 $ 2,437 Interest Rate Swaps The Company enters into interest rate swap contracts to hedge the variability of future interest cash flows of forecasted wholesale borrowings attributable to changes in a predetermined variable index rate. The interest rate swaps effectively fix the Company’s interest payments on an amount of forecasted interest expense attributable to the variable index rate corresponding to the swap notional stated rate. These swaps are designated as cash flow hedges for the forecasted wholesale borrowing transactions, are properly documented as such, and therefore, qualify for cash flow hedge accounting. Any gain or loss associated with the effective portion of the cash flow hedges is recognized in other comprehensive income (loss) and is subsequ ently reclassified into operations in the period during which the hedged forecasted transactions affect earnings. Changes in the fair value of these derivatives are recorded in accumulated other comprehensive income to the extent there is no significant in effectiveness in the cash flow hedging relationships. Currently, the Company does not expect to reclassify any amount included in other comprehensive income (loss) related to these interest rate swaps to operations in the next twelve months. The following table shows a summary of these swaps and their terms at June 30 , 2017 : Notional Fixed Variable Trade Settlement Maturity Type Amount Rate Rate Index Date Date Date (In thousands) Interest Rate Swaps $ 35,856 2.4210% 1-Month LIBOR 07/03/13 07/03/13 08/01/23 $ 35,856 An accumulated unrealized loss of $ 923 thousand and $ 1.0 million was recognized in accumulated other comprehensive income (loss) related to the valuation of these swaps at June 30 , 2017 and December 31 , 2016 , respectively, and the related liability is being reflected in the consolidated statements of financial condition. At June 30 , 2017 and December 31 , 2016 , interest rate swaps not designated as hedging instruments that were offered to clients represented an asset of $ 893 thousand and $1.2 mi llion, respectively, and were included as part of derivative assets in the consolidated statements of financial position. The credit risk to these clients stemming from these derivatives, if any, is not material. At June 30 , 2017 and December 31 , 2016 , interest rate swaps not designated as hedging instruments that are the mirror-images of the derivatives offered to clients represented a liability of $893 thousand and $1.2 million, respectively, and were included as part of derivative liabilities in the consolidated statements of financial condition. The following table shows a summary of these interest rate swaps not designated as hedging instruments and their terms at June 30 , 2017 : 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 $ 12,500 Interest Rate Swaps - Mirror Image Derivatives $ 12,500 5.5050% 1-Month LIBOR 04/11/09 04/11/19 $ 12,500 Interest Rate Caps The Company has entered into interest rate cap transactions with various clients with floating-rate debt who wish to protect their financial results against increases in interest rates. In these cases, the Company simultaneously enters into mirror-image interest rate cap transactions with financial counterparties. None of these cap transactions qualify for hedge accounting, and therefore, they are marked to market through earnings. As of June 30 , 2017 and December 31 , 2016 , t he out standing total notional amount of interest rate caps was $ 135.6 million and $ 136.1 million, respectively. At June 30 , 2017 and December 31 , 2016 , the interest rate caps sold to clients represented a liability of $6 5 thousand and $139 thousand, respect ively, and were included as part of derivative liabilities in the consolidated statements of financial condition. At June 30 , 2017 and December 31 , 2016 , the interest rate caps purchased as mirror-images represented an asset of $64 thousand and $143 t housand, respectively, and were included as part of derivative assets in the consolidated statements of financial condition. |
Accrued Interest Receivable and
Accrued Interest Receivable and Other Assets | 6 Months Ended |
Jun. 30, 2017 | |
Accrued Interest Receivable And Other Assets [Abstract] | |
Other Assets Disclosure [Text Block] | NOTE 8 — ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS Accrued interest receivable at June 30 , 2017 and December 31 , 2016 consists of the following: June 30, December 31, 2017 2016 (In thousands) Loans, excluding acquired loans $ 16,835 $ 16,706 Investments 2,963 3,521 $ 19,798 $ 20,227 Other assets at June 30 , 2017 and December 31 , 2016 consist of the following : June 30, December 31, 2017 2016 (In thousands) Prepaid expenses $ 17,117 $ 17,096 Other repossessed assets 3,225 3,224 Core deposit and customer relationship intangibles 5,424 6,160 Mortgage tax credits 6,277 6,277 Investment in Statutory Trust 1,083 1,083 Accounts receivable and other assets 33,162 46,525 $ 66,288 $ 80,365 Prepaid expenses amounting to $17.1 million at both June 30 , 2017 and December 31 , 2016 , include prepaid municipal, property and income taxes aggregating to $ 11.7 million and $ 12.5 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 June 30 , 2017 and December 31 , 2016 this core deposit intangible amounted to $ 3.8 million and $ 4.3 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 June 30 , 2017 and December 31 , 2016 , this customer relationship intangible amounted to $ 1.6 million and $ 1.9 million, respectively. Other repossessed assets totaled $3.2 million at June 30 , 2017 and December 31 , 2016 , respec tively, include repossessed automobiles amounting to $ 3.0 million, respectively, which are recorded at their net realizable value. At June 30 , 2017 and December 31 , 2016 , tax credits for the Company totaled $6.3 million for both periods. These tax cr edits do not have an expiration date. |
Deposits and Related Interest
Deposits and Related Interest | 6 Months Ended |
Jun. 30, 2017 | |
Deposits and Related Interest [Abstract] | |
Deposit and Related Interest | NOTE 9 — DEPOSITS AND RELATED INTEREST Total deposits, including related accrued interest payable, as of June 30 , 2017 and December 31 , 2016 consist of the following: June 30, December 31, 2017 2016 (In thousands) Non-interest bearing demand deposits $ 845,375 $ 848,502 Interest-bearing savings and demand deposits 2,115,290 2,219,452 Individual retirement accounts 238,345 265,754 Retail certificates of deposit 607,910 563,965 Institutional certificates of deposit 206,855 190,419 Total core deposits 4,013,775 4,088,092 Brokered deposits 568,911 576,395 Total deposits $ 4,582,686 $ 4,664,487 Brokered deposits include $ 51 5 .6 million in certificates of deposits and $ 5 3.3 million in money market accounts at June 30 , 2017 , and $ 508.4 million in certificates of deposits and $ 68.0 million in money market accounts at December 31 , 2016 . The weighted average interest rate of the Company’s deposits was 0.65 % and 0.62 % at June 30 , 2017 and December 31 , 2016 respectively. Interest expense for the quarters and six-month periods ended June 30 , 2017 and 2016 was as follows: Quarter Ended June 30, Six-Month Period Ended June 30, 2017 2016 2017 2016 (In thousands) Demand and savings deposits $ 2,939 $ 3,184 $ 5,848 $ 6,026 Certificates of deposit 4,713 4,183 9,157 8,465 $ 7,652 $ 7,367 $ 15,005 $ 14,491 At December 31 , 2016 , demand and interest-bearing deposits and certificates of deposit included uncollateralized deposits of Puerto Rico Cash & Money Market Fund, Inc. ("the Fund”), which amounted to $ 15.3 million, with a weighted average rate of 0.77 % . On April 3, 2017, the Fund was liquidated in anticipation of its dissolution . At June 30 , 2017 and December 31 , 2016 , time deposits in denominations of $250 thousand or higher, excluding accrued interest and unamortized discounts, amounted to $ 360. 9 million and $ 344.0 million, respectively. Such amounts include public funds time deposits from various Puerto Rico government municipalities, agencies, and corporations of $ 16.8 million and $ 2.1 million at a weighted average rate of 0.63 % and 0.50 % at June 30 , 2017 and December 31 , 2016 , respectively. At June 30 , 2017 and December 31 , 2016 , total public fund deposits from various Puerto Rico government municipalities, agencies, and corporations amounted to $ 123.3 million and $ 170.7 million, respectively. These public funds were collateralized with commercial loans amoun ting to $ 215.8 million and $ 209.2 million at June 30 , 2017 and December 31 , 2016 , respectively. Excluding accrued interest of approximately $ 1. 9 million , the scheduled maturities of certificates of deposit at June 30 , 2017 and December 31, 2016 are as follows : June 30, 2017 December 31, 2016 (In thousands) Within one year: Three (3) months or less $ 262,406 $ 277,621 Over 3 months through 1 year 590,861 534,548 853,267 812,169 Over 1 through 2 years 444,176 488,440 Over 2 through 3 years 195,287 154,545 Over 3 through 4 years 38,872 29,701 Over 4 through 5 years 35,145 41,949 $ 1,566,747 $ 1,526,804 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 $ 761 thousand and $ 575 thousand as of June 30 , 2017 and December 31 , 2016 , respectively. |
Borrowings
Borrowings | 6 Months Ended |
Jun. 30, 2017 | |
Debt Disclosure [Abstract] | |
Borrowings | NOTE 10 — BORROWINGS AND RELATED INTEREST Securities Sold under Agreements to Repurchase At June 30 , 2017 , securities underlying agreements to repurchase were delivered to, and are being held by, the counterparties with whom the repurchase agreements were transacted. The counterparties have agreed to resell to the Company the same or similar securities at the maturity of these agreements. The purpose of these transactions is to provide financing for the Company’s securities portfolio. At June 30 , 2017 and December 31 , 2016 , securities sold under agreements to repurchase (classified by counterparty), excluding accrued interest in the amount of $ 642 thousand and $ 1.5 million, respectively, were as follows: June 30, December 31, 2017 2016 Fair Value of Fair Value of Borrowing Underlying Borrowing Underlying Balance Collateral Balance Collateral (In thousands) Nomura $ 37,001 $ 38,900 $ - $ - PR Cash and Money Market Fund - - 70,010 74,538 JP Morgan Chase Bank NA 239,781 257,976 350,219 376,674 Federal Home Loan Bank 110,000 115,881 - - Credit Suisse Securities (USA) LLC - - 232,000 249,286 Goldman SachsCredit Suisse Securities (USA) LLC 66,068 70,653 - - Total $ 452,850 $ 483,410 $ 652,229 $ 700,498 The following table shows a summary of the Company’s repurchase agreements and their terms, excluding accrued interest in the amount of $642 thousand, at June 30 , 2017 : Weighted- Borrowing Average Maturity Year of Maturity Balance Coupon Settlement Date Date (In thousands) 2017 $ 37,001 1.65% 6/27/2017 7/3/2017 57,281 1.55% 6/28/2017 7/5/2017 66,068 1.50% 6/28/2017 7/7/2017 2018 182,500 1.42% 12/10/2012 4/29/2018 2019 50,000 1.72% 3/2/2017 9/3/2019 2020 60,000 1.85% 3/2/2017 3/2/2020 $ 452,850 1.56% Al l the repurchase agreements referred above with maturity up to the date of this report were renewed by the Company. A repurchase agreement in the original amount of $ 500 million with an original term of ten years 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 consolidated statements of operations. The remaining balance of this repurchase agreement of $ 232. 0 million matured on March 2, 2017 . At June 30, 2017, repurchase agreement in the original amount of $ 25.0 million and $ 75.0 million, respectively, with original term of June 2019 and December 2019, respectively, were terminated before maturity at a cost of $ 80 thousand , included as a loss on early extinguishment of debt in consolidated statement of operations . The following table presents the repurchase liability associated with the repurchase agreement transactions (excluding accrued interest) by maturity. Also, it includes the carrying value and approximate market value of collateral (excluding accrued interest) at June 30 , 2017 and December 31 , 2016 . There was no cash collateral at June 30 , 2017 and December 31 , 2016 . June 30, 2017 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 $ 160,350 1.57% $ 170,851 $ - $ - $ 170,851 Over 90 days 292,500 1.56% 312,467 92 - 312,559 Total $ 452,850 1.56% $ 483,318 $ 92 $ - $ 483,410 December 31, 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 $ 349,729 $ 3.35% 248,288 $ 75,536 $ 48,954 $ 372,778 Over 90 days 302,500 1.44% 327,627 93 - 327,720 Total $ 652,229 2.47% $ 575,915 $ 75,629 48,954 700,498 Advances from the Federal Home Loan Bank of New York Advances are received from the Federal Home Loan Bank of New York (the “FHLB-NY”) under an agreement whereby the Company is required to maintain a minimum amount of qualifying collateral with a fair value of at least 110 % of the outstanding advances. At June 30 , 2017 and December 31 , 2016 , these advances were secured by mortgage and commercial loans amounting to $ 1.3 b illion and $ 1.4 billion, respectively. Also, at June 30 , 2017 and December 31 , 2016 , the Company had an additional borrowing capacity with the FHLB-NY of $ 935.5 m illion and $ 1.2 billion, respectively. At June 30 , 2017 and December 31 , 2016 , the w eighted average remaining maturity of FHLB’s advances was 5.2 months and 10.6 months , respectively. The original terms of these advances range between one day and seven years, and the FHLB-NY does not have the right to exercise put options at par on any ad vances outstanding as of June 30 , 2017 . The following table shows a summary of these advances and their terms, excluding accrued interest in the amount of $ 30 8 thousand, at June 30 , 2017 Weighted- Borrowing Average Maturity Year of Maturity Balance Coupon Settlement Date Date (In thousands) 2017 $ 35,856 1.20% 6/1/2017 7/3/2017 37,000 1.24% 6/30/2017 7/3/2017 72,856 2018 30,000 2.19% 1/16/2013 1/16/2018 25,000 2.18% 1/16/2013 1/16/2018 55,000 2020 9,376 2.59% 7/19/2013 7/20/2020 $ 137,232 1.70% All of the advances referred to above with maturity dates up to the date of this report were renewed as one-month short-term advances. Subordinated Capital Notes Subordinated capital notes amounted to $36.1 million at June 30 , 2017 and December 31 , 2016 , for both periods . |
Offset of Assets_Liabilities
Offset of Assets/Liabilities | 6 Months Ended |
Jun. 30, 2017 | |
Offsetting [Abstract] | |
Balance sheet Offsetting [Text Block] | NOTE 11 – OFFSETTING OF FINANCIAL ASSETS AND LIABILITIES The Company’s derivatives are subject to agreements which allow a right of set-off with each respective counterparty . In addition, the Company’s securities purchased under agreements to resell and securities sold under agreements to repurchase have a right of set-off with the respective counterparty under the supplemental terms of the master repurchase agreements. In an event of default, each party has a right of set-off against the other party for amounts owed in the related agreements and any other amount or obligation owed in respect of any other agreement or transaction between them. Security collateral posted to open and maintain a master netting agreement with a counterparty, in the form of cas h and securities, may from time to time be segregated in an account at a third-party custodian pursuant to a an account control agreement. The following table presents the potential effect of rights of set-off associated with the Company’s recognized fina ncial assets and liabilities at June 30 , 2017 and December 31 , 2016 : June 30, 2017 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 $ 957 $ - $ 957 $ 2,027 $ - $ (1,070) December 31, 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 $ 1,330 $ - $ 1,330 $ 2,003 $ - $ (673) June 30, 2017 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 $ 1,881 $ - $ 1,881 $ - $ 1,980 $ (99) Securities sold under agreements to repurchase 452,850 - 452,850 483,410 - (30,560) Total $ 454,731 $ - $ 454,731 $ 483,410 $ 1,980 $ (30,659) December 31, 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 $ 2,437 $ - $ 2,437 $ - $ 1,980 $ 457 Securities sold under agreements to repurchase 652,229 - 652,229 700,498 - (48,269) Total $ 654,666 $ - $ 654,666 $ 700,498 $ 1,980 $ (47,812) |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2017 | |
Income Taxes [Abstract] | |
Income Taxes | NOTE 1 2 — INCOME TAXES At June 30 , 2017 and December 31 , 2016 , the Company’s net deferred tax asset amounted to $116.2 million and $ 124.2 million, respectively. In assessing the realizability of the deferred tax asset, management considers whether it is more likely than not that some portion or the entire deferred tax asset will not be realized. The ultimate realization of the deferred tax asset is dependent upon the generation of future taxable income during the periods in which those temporary dif ferences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Based upon the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax asset are deductible, management believes it is more likely than not that the Company will realize the deferred tax asset, net of the existing valuation allowances recorded at June 30 , 2017 and December 31 , 2016 . The amount of the deferred tax asset that is considered realizable could be reduced in the near term if estimates of future taxable income during the carry forward period are reduced. At June 30 , 2017 and December 31 , 2016 , Oriental International Bank Inc. (“OIB”), the Bank’s international banking entity subsidiary , had $ 6 thousand and $ 109 thousand, respectively, in income tax effect of unrecognized gain on available-for-sale securities included in other comprehensive income. Following the change in OIB’s applicable tax rate from 5% to 0% as a result of a Puerto Rico law adopted in 2011, this remaining tax balance will flow through income as these securities are repaid or sold in future periods. During the quarters ende d June 30 , 2017 and 2016 , $ 95 thousand and $ 8 thousand , respectively, related to this residual tax effect from OIB was reclassified from accumulated other comprehensive income (loss) into income tax provision. During the six-month period ended June 30 , 2017 and 2016 , $ 1 03 thousand and $ 16 thousand, respectively, related to this residual tax effect from OIB was reclassified from accumulated other comprehensive income (loss) into income tax provision. The Company classifies unrecognized tax benefits in other liabilities. These gross unrecognized tax benefits would affect the effective tax rate if realized. At June 30 , 2017 the amount of unrecognized tax benefits was $ 2.1 million ( December 31 , 2016 - $ 2.0 million). The Company had accrued $ 80 thousand at June 30 , 2017 ( December 31 , 2016 - $ 229 thousand) for the payment of interest and penalties relating to unrecognized tax benefits. The Company is subject to the dispositions of the 2011 Puerto Rico Internal Revenue Code, as amended (the "Code"). The Code imposes a maximum corporate tax rate of 39%. The Company maintained a lower effective tax rate for the six-month periods ended June 30, 201 7 and 201 6 of 29.0% and 28.8%, respectively . Income tax expense for the quarters ended June 30 , 2017 and 2016 was $ 4.0 million and $5.9 million, respectively. Income tax expense for the six-month periods ended June 30 , 2017 and 2016 was $1 3.2 million and $11.5 million, respectively. |
Regulatory Capital Requirements
Regulatory Capital Requirements | 6 Months Ended |
Jun. 30, 2017 | |
Regulatory Capital Requirements Abstract | |
Regulatory Capital Requirements Under Banking Regulations Text Block | NOTE 1 3 — REGULATORY CAPITAL REQUIREMENTS 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 adopted capital rules that became effective January 1, 2015 for the Com pany 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) introd uce 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 revised req uirements; (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 regulation s. The current 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 categori es, depending on the nature of the assets, and resulting in higher risk weights for a variety of asset classes. Pursuant to the current capital rules, the minimum capital ratios requirements 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% Tier 1 capital to average consolidated assets as reported on consolidated financial statements (known as the “leverage ratio”). As of June 30 , 2017 and December 31 , 2016 , the Company and the Bank met all capital adequacy requirements to which they are subject. As of June 30 , 2017 and December 31 , 2016 , 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, Tier 1 risk-based, to tal risk-based, and Tier 1 leverage ratios as set forth in the tables presented below. The Company’s and the Bank’s actual capital amounts and ratios as of June 30 , 2017 and December 31 , 2016 are as follows: Minimum Capital Minimum to be Well Actual Requirement Capitalized Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Company Ratios As of June 30, 2017 Total capital to risk-weighted assets $ 896,927 20.42% $ 351,306 8.00% $ 439,132 10.00% Tier 1 capital to risk-weighted assets $ 840,704 19.14% $ 263,479 6.00% $ 351,306 8.00% Common equity tier 1 capital to risk-weighted assets $ 643,607 14.66% $ 197,609 4.50% $ 285,436 6.50% Tier 1 capital to average total assets $ 840,704 13.69% $ 245,577 4.00% $ 306,971 5.00% As of December 31, 2016 Total capital to risk-weighted assets $ 876,657 19.62% $ 357,404 8.00% $ 446,756 10.00% Tier 1 capital to risk-weighted assets $ 819,662 18.35% $ 268,053 6.00% $ 357,404 8.00% Common equity tier 1 capital to risk-weighted assets $ 627,733 14.05% $ 201,040 4.50% $ 290,391 6.50% Tier 1 capital to average total assets $ 819,662 12.99% $ 252,344 4.00% $ 315,430 5.00% Minimum Capital Minimum to be Well Actual Requirement Capitalized Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Bank Ratios As of June 30, 2017 Total capital to risk-weighted assets $ 887,024 20.20% $ 351,244 8.00% $ 439,055 10.00% Tier 1 capital to risk-weighted assets $ 831,012 18.93% $ 263,433 6.00% $ 351,244 8.00% Common equity tier 1 capital to risk-weighted assets $ 831,012 18.93% $ 197,575 4.50% $ 285,386 6.50% Tier 1 capital to average total assets $ 831,012 13.59% $ 244,618 4.00% $ 305,773 5.00% As of December 31, 2016 Total capital to risk-weighted assets $ 857,259 19.23% $ 356,596 8.00% $ 445,745 10.00% Tier 1 capital to risk-weighted assets $ 800,544 17.96% $ 267,447 6.00% $ 356,596 8.00% Common equity tier 1 capital to risk-weighted assets $ 800,544 17.96% $ 200,585 4.50% $ 289,734 6.50% Tier 1 capital to average total assets $ 800,544 12.75% $ 251,200 4.00% $ 314,000 5.00% |
Stockholders' Equity
Stockholders' Equity | 6 Months Ended |
Jun. 30, 2017 | |
Stockholders' Equity [Abstract] | |
Stockholders' equity | NOTE 14 – 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 both periods, June 30 , 2017 and December 31 , 2016 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 or loss for the year be transferred to a reserve fund until such fund (legal surplus) equals the total paid in capital on common and preferred stock. At June 30 , 2017 and December 31 , 2016 , the Bank’s legal surplus amounted to $ 79.5 mi llion and $ 76.3 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 $ 7.7 million of its outstanding shares of common stock. The shares of common stock repurchased are to be held by the Company as treasury shares. During the six-month periods ended June 30 , 2017 and 2016 , the Company did not purchase any shares under the program. At June 30 , 2017 the number of shares that may yet be purchased under the $70 million program is estimated at 773 , 085 and was calculated by dividing the remaining balance of $ 7.7 million by $ 1 0 . 0 0 (closing price of the Company common stock at June 30 , 2017 ). The activity in connection with common shares held in treasury by the Company for the six-month periods ended June 30 , 2017 and 2016 is set forth below : Six-Month Period Ended June 30, 2017 2016 Dollar Dollar Shares Amount Shares Amount (In thousands, except shares data) Beginning of period 8,711,025 $ 104,860 8,757,960 $ 105,379 Common shares used upon lapse of restricted stock units (32,598) (358) (45,810) (505) End of period 8,678,427 $ 104,502 8,712,150 $ 104,874 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 6 Months Ended |
Jun. 30, 2017 | |
Disclosure Text Block Abstract | |
Comprehensive Income Note Text Block | NOTE 1 5 - ACCUMULATED OTHER COMPREHENSIVE INCOME Accumulated other comprehensive income, net of income taxes, as of June 30 , 2017 and December 31 , 2016 consisted of: June 30, December 31, 2017 2016 (In thousands) Unrealized gain on securities available-for-sale which are not other-than-temporarily impaired $ 47 $ 1,617 Income tax effect of unrealized gain on securities available-for-sale 209 592 Net unrealized gain on securities available-for-sale which are not other-than-temporarily impaired 256 2,209 Unrealized loss on cash flow hedges (923) (1,004) Income tax effect of unrealized loss on cash flow hedges 360 391 Net unrealized loss on cash flow hedges (563) (613) Accumulated other comprehensive (loss) income, net of income taxes $ (307) $ 1,596 The following table presents changes in accumulated other comprehensive income by component, net of taxes, for the quarters and six-month periods ended June 30 , 2017 and 2016 : Quarter Ended June 30, 2017 2016 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 (loss) income available-for-sale hedges income (In thousands) Beginning balance $ 3,850 $ (502) $ 3,348 $ 15,089 $ (2,805) $ 12,284 Other comprehensive loss before reclassifications (3,618) (189) (3,807) 3,060 (949) 2,111 Amounts reclassified out of accumulated other comprehensive income (loss) 24 128 152 (64) 1,474 1,410 Other comprehensive income (loss) (3,594) (61) (3,655) 2,996 525 3,521 Ending balance $ 256 $ (563) $ (307) $ 18,085 $ (2,280) $ 15,805 Six-Month Period Ended June 30, 2017 2016 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 (loss) income available-for-sale hedges income (In thousands) Beginning balance $ 2,209 (613) 1,596 16,924 (2,927) 13,997 Other comprehensive income (loss) before reclassifications (1,911) (227) (2,138) (1,266) (2,406) (3,672) Amounts reclassified out of accumulated other comprehensive income (loss) (42) 277 235 2,427 3,053 5,480 Other comprehensive income (loss) (1,953) 50 (1,903) 1,161 647 1,808 Ending balance $ 256 $ (563) $ (307) $ 18,085 $ (2,280) $ 15,805 The following table presents reclassifications out of accumulated other comprehensive income for the quarters and six-month periods ended June 30 , 2017 and 2016 : Amount reclassified out of accumulated other comprehensive (loss) income Affected Line Item in Quarter Ended June 30, Consolidated Statement 2017 2016 of Operations (In thousands) Cash flow hedges: Interest-rate contracts $ 128 $ 1,354 Net interest expense Tax effect from increase in capital gains tax rate - 120 Income tax expense Available-for-sale securities: Residual tax effect from OIB's change in applicable tax rate 95 8 Income tax expense Tax effect from increase in capital gains tax rate (71) (72) Income tax expense $ 152 $ 1,410 Amount reclassified out of accumulated other comprehensive (loss) income Affected Line Item in Six-Month Period Ended June 30, Consolidated Statement 2017 2016 of Operations (In thousands) Cash flow hedges: Interest-rate contracts $ 277 $ 2,804 Net interest expense Tax effect from increase in capital gains tax rate - 249 Income tax expense Available-for-sale securities: Other-than-temporary impairment losses on investment securities - 2,557 Net impairment losses recognized in earnings Residual tax effect from OIB's change in applicable tax rate 103 16 Income tax expense Tax effect from increase in capital gains tax rate (145) (146) Income tax expense $ 235 $ 5,480 |
Earnings Per Common Share
Earnings Per Common Share | 6 Months Ended |
Jun. 30, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Share Text Block | NOTE 16 – EARNINGS PER COMMON SHARE The calculation of earnings per common share for the quarters and six-month periods ended June 30 , 2017 and 2016 is as follows: Quarter Ended June 30, Six-Month Period Ended June 30, 2017 2016 2017 2016 (In thousands, except per share data) Net income $ 17,104 $ 14,339 $ 32,254 $ 28,510 Less: Dividends on preferred stock Non-convertible preferred stock (Series A, B, and D) (1,629) (1,629) (3,256) (3,256) Convertible preferred stock (Series C) (1,837) (1,837) (3,675) (3,675) Income available to common shareholders $ 13,638 $ 10,873 $ 25,323 $ 21,579 Effect of assumed conversion of the convertible ' ' preferred stock 1,837 1,837 3,675 3,675 Income available to common shareholders assuming conversion $ 15,475 $ 12,710 $ 28,998 $ 25,254 Weighted average common shares and share equivalents: Average common shares outstanding 43,947 43,914 43,931 43,906 Effect of dilutive securities: Average potential common shares-options 15 43 24 37 Average potential common shares-assuming ' ' conversion of convertible preferred stock 7,138 7,138 7,138 7,138 Total weighted average common shares ' ' outstanding and equivalents 51,100 51,095 51,093 51,081 Earnings per common share - basic $ 0.30 $ 0.25 $ 0.58 $ 0.49 Earnings per common share - diluted $ 0.30 $ 0.25 $ 0.57 $ 0.49 In computing diluted earnings per common share, the 84,000 shares of convertible preferred stock, which remain outstanding at June 30 , 2017 , with a conversion rate, subject to certain conditions, of 86.4225 shares of common stock per share, were included as average potential common shares from the date they were issued and outstanding. Moreover, in computing diluted earnings per common share, the dividends declared during the quarters and six-month periods ended June 30 , 2017 and 2016 on t he convertible preferred stock were added back as income available to common shareholders. For the quarters ended June 30 , 2017 and 2016 , weighted-average stock options with an anti-dilutive effect on earnings per share not included in the calcul ation amounted to 967 , 041 and 957,743 , respectively. For the six-month period ended June 30 , 2017 and 2016 , weighted-average stock options with an anti-dilutive effect on earnings per share not included in the calculation amounted to 890 , 472 and 9 57,783 , respectively. |
Guarantees
Guarantees | 6 Months Ended |
Jun. 30, 2017 | |
Guarantees [Abstract] | |
Guarantees [Text Block] | NOTE 1 7 – GUARANTEES At June 30 , 2017 and December 31 , 2016 , the unamortized balance of the obligations undertaken in issuing the guarantees under standby letters of credit represented a liability of $ 13. 4 million and $ 4.0 million, respectively. As a result of the BBVAPR Acquisition, the Company assumed a liability for residential mortgage loans sold subject to credit recourse, pursuant to FNMA’s residential mortgage loan sales and securitization programs. At June 30 , 2017 and December 31 , 2016 , the unpaid principal balance of residential mortgage loans sold subject to credit recourse was $ 6.6 million and $ 20.1 million, respectively. The following table shows the changes in the Company’s liability for estimated losses from these credit recourse agreements, included in the consolidated statements of financial condition during the quarters and six-month periods ended June 30 , 2017 and 2016 . Quarter Ended June 30, Six-Month Period Ended June 30, 2017 2016 2017 2016 (In thousands) Balance at beginning of period $ 570 $ 181 $ 710 $ 439 Net (charge-offs/terminations) recoveries (111) (19) (251) (277) Balance at end of period $ 459 $ 162 $ 459 $ 162 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 arters ended June 30 , 2017 and 2016 , the Company repurchased approximately $ 66 thousand and $ 83 thousand, respectively of unpaid principal balance in mortgage loans subject to the credit recourse provisions. During the six-month periods ended June 30 , 2017 and 2016 , the Company repurchased approximately $ 107 thousand and $ 288 thousand, respectively of unpaid principal balance in mortgage loans subject to the credit recourse provisions. If a borrower defaults, the Company has rights to the u nderlying 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 a dvanced, and the costs of holding and disposing the related property. At June 30 , 2017 , the Company’s liability for estimated credit losses related to loans sold with credit recourse amounted to $ 459 thousand (December 31, 2016– $ 710 thousand). When the Company sells or securitizes mortgage loans, it generally makes customary representations and warranties regarding the characteristics of the loans sold. The Company's mortgage operations division groups conforming mortgage loans into pools which are exchanged for FNMA and GNMA mortgage-backed securities, which are generally sold to private investors, or are sold directly to FNMA or other private investors for cash. As required under such mortgage backed securities programs, quality review procedures a re performed by the Company to ensure that asset guideline qualifications are met. To the extent the loans do not meet specified characteristics, the Company may be required to repurchase such loans or indemnify for losses and bear any subsequent loss rela ted to the loans. During the quarter ended June 30 , 2017 , the Company repurchased $ 1.4 million ( June 30 , 2016 – $ 817 thousand) of unpaid principal balance in mortgage loans , excluding mortgage loans subject to credit recourse provision referred a bove . During both the six-month periods ended June 30 , 2017 and June 30 , 2016 , the Company repurchased $ 2.3 million of unpaid principal balance in mortgage loans , excluding mortgage loans subject to credit recourse provision referred before . During the quarters ended June 30 , 2017 and 2016 , the Company recognized $ 254 thousand and $ 92 thousand, respectively, in losses from the repurchase of residential mortgage loans sold subject to credit recourse, and $ 283 thousand and $ 329 thousand, respectively, from the repurchase of residential mortgage loans as a result of breaches of the customary representations and warranties. During the six-month periods ended June 30 , 2017 and 2016 , the Company recognized $ 354 thousand a nd $ 111 thousand, respectively, in losses from the repurchase of residential mortgage loans sold subject to credit recourse, and $ 590 thousand and $ 830 thousand, respectively, from the repurchase 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 investors, including the FHLMC, require the Company to advance funds to make scheduled payments of principal, interest, taxes and insurance, if such payments have not been received from the borrowers. At June 30 , 2017 , the Company serviced $ 845.7 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 t he meantime, the Company must absorb the cost of the funds it advances during the time the advance is outstanding. The Company must also bear the costs of attempting to collect on delinquent and defaulted mortgage loans. In addition, if a defaulted loan is not cured, the mortgage loan would be canceled as part of the foreclosure proceedings and the Company would not receive any future servicing income with respect to that loan. At June 30 , 2017 , the outstanding balance of funds advanced by the Company under such mortgage loan servicing agreements was approximately $ 366 thousand ( December 31 , 2016 - $ 334 thousand). To the extent the mortgage loans underlying the Company's servicing portfolio experience increased delinquencies, the Company would be requir ed to dedicate additional cash resources to comply with its obligation to advance funds as well as incur additional administrative costs related to increases in collection efforts. |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2017 | |
Commitments and Contingencies [Abstract] | |
Commitments | NOTE 1 8 — 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 gua rantees. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized in the consolidated statements of financial condition. The contract or notional amount of those instruments reflects the e xtent of the Company’s involvement in particular types of financial instruments. The Company’s exposure to credit losses in the event of nonperformance by the counterparty to the financial instrument for commitments to extend credit, including commitments under credit card arrangements, and commercial letters of credit is represented by the contractual notional amounts of those instruments, which do not necessarily represent the amounts potentially subject to risk. In addition, the measurement of the risks associated with these instruments is meaningful only when all related and offsetting transactions are identified. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. Cre dit-related financial instruments at June 30 , 2017 and December 31 , 2016 were as follows: June 30, December 31, 2017 2016 (In thousands) Commitments to extend credit $ 434,051 $ 492,885 Commercial letters of credit 1,501 2,721 Commitments to extend credit represent agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if it is deemed necessary by the Company upon the extension of credit, is based on management’s credit evaluation of the counterpar ty. At June 30 , 2017 and December 31 , 2016 , 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 June 30 , 2017 and December 31 , 2016 . Commercial letters of credit are issued or confirmed to guarantee payment of customers’ payables or receivables in short-term international trade transactions. Generally, drafts will be drawn when the underlying transaction is consummated as intended. H owever, 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 accounti ng and disclosure requirements for guarantees, including indirect guarantees of indebtedness of others, at June 30 , 2017 and December 31 , 2016 , is as follows: June 30, December 31, 2017 2016 (In thousands) Standby letters of credit and financial guarantees $ 13,420 $ 4,041 Loans sold with recourse 6,640 20,126 Standby letters of credit and financial guarantees are written conditional commitments issued by the Company to guarantee the payment and/or performance of a customer to a third party (“beneficiary”). If the customer fails to comply with the agreement, the beneficiary may draw on the standby letter of credit or financial guarantee as a remedy. The amount of cred it risk involved in issuing letters of credit in the event of nonperformance is the face amount of the letter of credit or financial guarantee. These guarantees are primarily issued to support public and private borrowing arrangements, including commercial paper, bond financing, and similar transactions. The amount of collateral obtained, if it is deemed necessary by the Company upon extension of credit, is based on management’s credit evaluation of the customer. Lease Commitments The Company has entered into various operating lease agreements for branch facilities and administrative offices. Rent expense for the quarters ended June 30 , 2017 and 2016 , amounted to $ 2.5 million and $ 2.3 million, respectively . For the six-month periods ended June 30 , 2017 and 2016 , rent expense amounted to $ 4.5 million and $ 4.4 million, respectively, and is included in the "occupancy and equipment" caption in the unaudited consolidated statements of operat ions. Future rental commitments under leases in effect at June 30 , 2017 , exclusive of taxes, insurance, and maintenance expenses payable by the Company, are summarized as follows: Minimum Rent Year Ending December 31, (In thousands) 2017 $ 3,665 2018 6,969 2019 6,928 2020 6,201 2021 5,371 Thereafter 7,881 $ 37,015 |
Contingencies | Contingencies The Company and its subsidiaries are defendants in a number of legal proceedings incidental to their business. In the ordinary course of business, the Company and its subsidiaries are also subject to governmental and regulatory examinations. Certain subsidiaries of the Company, including the Bank (and its subsidiary OIB), Oriental Financial Services, and Oriental Insurance, are subject to regulation by various U.S., Puerto Rico and other regulators. The Company seeks to resolve all litigation and regulatory matters in the manner management believes is in the best interests of the Company and its shareholders, and contests allegations of liability or wrongdoing and, where applicable, the amount of damages or scope of any penalties or other relief sought as appropriate in each pending matter. Subject to the accounting and disclosure framework under the provisions of ASC 450, it is the opinion of the Company’s management, based on current knowledge and after taking into account its current legal accruals, that the eventual outcome of all matters would not be likely to have a material adverse effect on the consolidated statements of financial condition of the Company. Nonetheless, given the substantial or indeterminate amounts sought in certain of these matters, and the inherent unpredictability of such matters, an adverse outcome in certain of these matters could, from time to time, have a material adverse effect on the Company’s consolidated results of operations or cash flows in par ticular quarterly or annual periods. The Company has evaluated all litigation and regulatory matters where the likelihood of a potential loss is deemed reasonably possible. The Company has determined that the estimate of the reasonably possible loss is not significant. |
Fair Value
Fair Value | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value | NOTE 19 - FAIR VALUE OF FINANCIAL INSTRUMENTS The Company follows the fair value measurement framework under U.S. Generally Accepted Accounting Principles (“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 es tablishes 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 consolidated statements of financial condition as these are reasonable estimates of fair value given the short-term nature of the instruments. Investment securities The fair value of investment securities is based on qu oted market prices, when available, or market prices provided by Interactive Data Corporation ("IDC"), and 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 available, fair value is based upon externally developed models that use both observable and unobservable inputs depending on the market activity of the instrument, and such securities are classified as Level 3. At June 30 , 2017 and December 31 , 2016 , the Company 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 ra tes, 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 rate s, and also applying yield curves that account for the industry sector and the credit rating of the counterparty and/or the Company. Certain other derivative instruments with limited market activity are valued using externally developed models that consid er 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 I ndex 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 a s 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 payo ff 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 inception. The assumptions, which were uncertain and required a degree of judgment, included primarily S&P In dex volatility, forward interest rate projections, estimated index dividend payout, and leverage. At June 30 , 2017 and December 31, 2016, there were no options tied to the S&P Index outstanding. Servicing assets Servicing assets do not trade in an active market with readily observable prices. Servicing assets are priced using a discounted cash flow model. The valuation model considers servicing fees, portfolio characteristics, prepayment assumptions, delinquency rates, late charges, other ancillary revenues, cost to service and other economic factors. Due to the unobservable nature of certain valuation inputs, the servicing rights are classified as Level 3. Impaired Loans Impaired loans are carried at the present value of expected future cash flow s using the loan’s existing rate in a discounted cash flow calculation, or the fair value of the collateral if the loan is collateral-dependent. Expected cash flows are based on internal inputs reflecting expected default rates on contractual cash flows. T his method of estimating fair value does not incorporate the exit-price concept of fair value described in ASC 820-10 and would generally result in a higher value than the exit-price approach. For loans measured using the estimated fair value of 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 wi th the provisions of ASC 310-10-35 less disposition costs. Currently, the associated loans considered impaired are classified as Level 3. Foreclosed real estate Foreclosed real estate includes real estate properties securing residential mortgage and comm ercial 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 ext ernal appraisals. Other repossessed assets Other repossessed assets include repossessed automobiles. The fair value of the repossessed automobiles may be determined using internal valuation and an external appraisal. These repossessed assets are cla ssified as Level 3 given certain internal adjustments that may be made to external appraisals. Assets and liabilities measured at fair value on a recurring and non-recurring basis are summarized below: June 30, 2017 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ - $ 649,327 $ - $ 649,327 Trading securities - 294 - 294 Money market investments 6,467 - - 6,467 Derivative assets - 957 - 957 Servicing assets - - 9,866 9,866 Derivative liabilities - (1,881) - (1,881) $ 6,467 $ 648,697 $ 9,866 $ 665,030 Non-recurring fair value measurements: Impaired commercial loans $ - $ - $ 58,089 $ 58,089 Foreclosed real estate - - 50,223 50,223 Other repossessed assets - - 3,225 3,225 $ - $ - $ 111,537 $ 111,537 December 31, 2016 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ - $ 751,484 $ - $ 751,484 Trading securities - 347 - 347 Money market investments 5,606 - - 5,606 Derivative assets - 1,330 - 1,330 Servicing assets - - 9,858 9,858 Derivative liabilities - (2,437) - (2,437) $ 5,606 $ 750,724 $ 9,858 $ 766,188 Non-recurring fair value measurements: Impaired commercial loans $ - $ - $ 54,289 $ 54,289 Foreclosed real estate - - 47,520 47,520 Other repossessed assets - - 3,224 3,224 $ - $ - $ 105,033 $ 105,033 The table below presents a reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the quarters and six-month period s ended June 30 , 2017 and 2016 : Quarter Ended June 30, 2017 Derivative Derivative asset liability (S&P (S&P Purchased Servicing Embedded Level 3 Instruments Only Options) assets Options) Total (In thousands) Balance at beginning of period $ - $ 9,688 $ - $ 9,688 New instruments acquired - 540 - 540 Principal repayments - (164) - (164) Changes in fair value of servicing assets - (198) - (198) Balance at end of period $ - $ 9,866 $ - $ 9,866 Six-Month Period Ended June 30, 2017 Derivative Derivative asset liability (S&P (S&P Purchased Servicing Embedded Level 3 Instruments Only Options) assets Options) Total (In thousands) Balance at beginning of period $ - $ 9,858 $ - $ 9,858 New instruments acquired - 1,074 - 1,074 Principal repayments - (326) - (326) Changes in fair value of servicing assets - (740) - (740) Balance at end of period $ - $ 9,866 $ - $ 9,866 Quarter Ended June 30, 2016 Derivative Derivative asset liability (S&P (S&P Purchased Servicing Embedded Level 3 Instruments Only Options) assets Options) Total (In thousands) Balance at beginning of period $ 772 $ 7,819 $ (746) $ 7,845 Gains (losses) included in earnings (585) - 557 (28) New instruments acquired - 717 - 717 Principal repayments - (121) - (121) Amortization - - 8 8 Changes in fair value of servicing assets - (483) - (483) Balance at end of period $ 187 $ 7,932 $ (181) $ 7,938 Six-Month Period Ended June 30, 2016 Derivative Derivative asset liability (S&P (S&P Purchased Servicing Embedded Level 3 Instruments Only Options) assets Options) Total (In thousands) Balance at beginning of period $ 1,171 $ 7,455 $ (1,095) $ 7,531 Gains (losses) included in earnings (984) - 886 (98) New instruments acquired - 1,275 - 1,275 Principal repayments - (225) - (225) Amortization - - 28 28 Changes in fair value of servicing assets - (573) - (573) Balance at end of period $ 187 $ 7,932 $ (181) $ 7,938 During the quarters and six-month periods ended June 30 , 2017 and 2016 , there were purchases and sales of assets and liabilities measured at fair value on a recurring basis. There were no transfers into and out of Level 1 and Level 2 fair value measurements during such periods. The table below presents quantitative information for all assets and liabilities measured at fair value on a recurring and non-recurring basis using significant unobservable inputs (Level 3) at June 30 , 2017 : June 30, 2017 Fair Value Valuation Technique Unobservable Input Range (In thousands) Servicing assets $ 9,866 Cash flow valuation Constant prepayment rate 4.18% - 9.07% Discount rate 10.00% - 12.00% Collateral dependant impaired loans $ 25,242 Fair value of property or collateral Appraised value less disposition costs 22.20% - 36.20% Other non-collateral dependant impaired loans $ 32,847 Cash flow valuation Discount rate 4.15% - 10.50% Foreclosed real estate $ 50,223 Fair value of property or collateral Appraised value less disposition costs 22.20% - 36.20% Other repossessed assets $ 3,225 Fair value of property or collateral Estimated net realizable value less disposition costs 32.00% - 68.00% Information about Sensitivity to Changes in Significant Unobservable Inputs Servicing assets – The significant unobservable inputs used in the fair value measurement of the Company’s servicing assets are constant prepayment rates and discount rates. Changes in one factor may result in changes in another (for example, increases in market interest rates may result in lower prepayments), which may magnify or offset the sensitivities. Mortgage banking activities, a component of total banking and financial service revenue in the consolidated statements of operations, include the changes from period to period in the fair value of the mortgage loan servicing rights, which may result from changes in the valuation model inputs or assumptions (principally reflec ting changes in discount rates and prepayment speed assumptions) and other changes, including changes due to collection/realization of expected cash flows. Fair Value of Financial Instruments The information about the estimated fair value of financial instruments required by GAAP is presented hereunder. The aggregate fair value amounts presented do not necessarily represent management’s estimate of the underlying value of the Company. The estimated fair value is subjective in nature, involves uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could affect these fair value estimat es. 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 instrume nts are the value of long-term customer relations hips of retail deposits, and premises and equipment . The estimated fair value and carrying value of the Company’s financial instruments at June 30 , 2017 and December 31 , 2016 is as follows: June 30, December 31, 2017 2016 Fair Carrying Fair Carrying Value Value Value Value (In thousands) Level 1 Financial Assets: Cash and cash equivalents $ 477,308 $ 477,308 $ 510,439 $ 510,439 Restricted cash $ 3,030 $ 3,030 $ 3,030 $ 3,030 Level 2 Financial Assets: Trading securities $ 294 $ 294 $ 347 $ 347 Investment securities available-for-sale $ 649,327 $ 649,327 $ 751,484 $ 751,484 Investment securities held-to-maturity $ 549,595 $ 555,407 $ 592,763 $ 599,884 Federal Home Loan Bank (FHLB) stock $ 16,616 $ 16,616 $ 10,793 $ 10,793 Other investments $ 3 $ 3 $ 3 $ 3 Derivative assets $ 957 $ 957 $ 1,330 $ 1,330 Financial Liabilities: Derivative liabilities $ 1,881 $ 1,881 $ 2,437 $ 2,437 Level 3 Financial Assets: Total loans (including loans held-for-sale) $ 3,955,910 $ 4,091,866 $ 3,917,340 $ 4,147,692 FDIC indemnification asset $ - $ - $ 8,669 $ 14,411 Accrued interest receivable $ 19,798 $ 19,798 $ 20,227 $ 20,227 Servicing assets $ 9,866 $ 9,866 $ 9,858 $ 9,858 Accounts receivable and other assets $ 33,162 $ 33,162 $ 46,525 $ 46,525 Financial Liabilities: Deposits $ 4,560,586 $ 4,582,686 $ 4,644,629 $ 4,664,487 Securities sold under agreements to repurchase $ 451,933 $ 453,492 $ 651,898 $ 653,756 Advances from FHLB $ 138,002 $ 137,540 $ 106,422 $ 105,454 Other borrowings $ 177 $ 177 $ 61 $ 61 Subordinated capital notes $ 31,743 $ 36,083 $ 30,230 $ 36,083 Accrued expenses and other liabilities $ 62,259 $ 62,259 $ 95,370 $ 95,370 The following methods and assumptions were used to estimate the fair values of significant financial instruments at June 30 , 2017 and December 31 , 2016 : • 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 carrying 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 prices provided by recognized broker-dealers. If listed prices or quotes are not available, fair value is based upon externally developed models that use both observable and unobservable inputs depending on the market activity of the instrument . • The fair value of the FDIC indemnification asset represented the present value of the net estimated cash payments expected to be received from the FDIC for futu re losses on covered assets based on the credit assumptions on estimated cash flows for each covered asset and the loss sharing percentages. The FDIC shared-loss agreements were terminated on February 6, 2017. Such termination takes into account the antici pated reimbursements over the life of the shared-loss agreements and the true-up payment liability of the Bank anticipated at the end of the ten year term of the single family shared-loss agreement . Therefore, at June 3 0 , 2017, the Company had no FDIC indem nification asset. • The fair value of servicing 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, d iscount rates, servicing costs, and other economic factors, which are determined based on current market conditions . • The fair values of the derivative instruments are provided by valuation experts and counterparties. Certain derivatives with limited mar ket activity are valued using externally developed models that consider unobservable market parameters. 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 o ption 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 the se 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 inception. The assumptions, which were uncertain and required a degree of judgment, included primarily S&P Index volatility, forward intere st rate projections, estimated index dividend payout, and leverage. At June 30 , 2017 , there were no options tied to S&P Index outstanding . • Fair value of derivative liabilities, which include interest rate swaps and forward-settlement swaps, are bas ed on the net discounted value of the contractual projected cash flows of both the pay-fixed receive-variable legs of the contracts. The projected cash flows are based on the forward yield curve, and discounted using current estimated market rates . • The fair value of the loan portfolio (including loans held-for-sale) is estimated by segregating by type, such as mortgage, commercial, consumer, auto and leasing. Each loan segment is further segmented into fixed and adjustable interest rates and by performin g and non-performing categories. The fair value of performing loans is calculated by discounting contractual cash flows, adjusted for prepayment estimates (voluntary and involuntary), if any, using estimated current market discount rates that reflect the c redit and interest rate risk inherent in the loan. This fair value is not currently an indication of an exit price as that type of assumption could result in a different fair value estimate. 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, and subordinated capital notes is based on the discounted value of the contractual cash flows using current estimated market discount rates for borrowings with similar terms, remaining maturities and put date s . |
Business Segment
Business Segment | 6 Months Ended |
Jun. 30, 2017 | |
Segment Reporting [Abstract] | |
Segment Reporting | NOTE 2 0 – BUSINESS SEGMENTS The Company segregates its businesses into the following major reportable segments of business: Banking, Wealth Management, and Treasury. Management established the reportable segments based on the internal reporting used to evaluate performance and to assess where to allocate resources. Other factors such as the Company’s organization, nature of its products, distribution channels and economic characteristics of the products were also considered in the determination of the 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 information by operating segment for the quarters and six-month periods ended June 30 , 2017 and 2016 : Quarter Ended June 30, 2017 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 77,019 $ 18 $ 8,903 $ 85,940 $ - $ 85,940 Interest expense (6,820) - (3,557) (10,377) - (10,377) Net interest income 70,199 18 5,346 75,563 - 75,563 Provision for loan and lease losses (26,526) - (10) (26,536) - (26,536) Non-interest income 11,776 6,329 6,781 24,886 - 24,886 Non-interest expenses (47,402) (4,100) (1,314) (52,816) - (52,816) Intersegment revenue 346 - 71 417 (417) - Intersegment expenses (71) (254) (92) (417) 417 - Income before income taxes $ 8,322 $ 1,993 $ 10,782 $ 21,097 $ - $ 21,097 Total assets $ 5,490,287 $ 22,531 $ 1,692,603 $ 7,205,421 (969,595) $ 6,235,826 Quarter Ended June 30, 2016 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 79,675 $ 16 $ 8,217 $ 87,908 $ - $ 87,908 Interest expense (7,300) - (7,296) (14,596) - (14,596) Net interest income 72,375 16 921 73,312 - 73,312 Provision for loan and lease losses (14,445) - - (14,445) - (14,445) Non-interest income 8,214 6,910 31 15,155 - 15,155 Non-interest expenses (47,097) (4,908) (1,820) (53,825) - (53,825) Intersegment revenue 389 - 49 438 (438) - Intersegment expenses (49) (286) (103) (438) 438 - Income before income taxes $ 19,387 $ 1,732 $ (922) $ 20,197 $ - $ 20,197 Total assets $ 5,829,987 $ 19,054 $ 1,800,838 $ 7,649,879 (937,283) $ 6,712,596 Six-Month Period Ended June 30, 2017 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 154,592 $ 30 $ 17,496 $ 172,118 $ - $ 172,118 Interest expense (13,634) - (8,303) (21,937) - (21,937) Net interest income 140,958 30 9,193 150,181 - 150,181 Provision for loan and lease losses, net (44,168) - (22) (44,190) - (44,190) Non-interest income, net 25,003 12,257 6,700 43,960 - 43,960 Non-interest expenses (93,456) (8,320) (2,724) (104,500) - (104,500) Intersegment revenue 810 - 142 952 (952) - Intersegment expenses (142) (565) (245) (952) 952 - Income before income taxes $ 29,005 $ 3,402 $ 13,044 $ 45,451 $ - $ 45,451 Total assets $ 5,490,287 $ 22,531 $ 1,692,603 $ 7,205,421 $ (969,595) $ 6,235,826 Six-Month Period Ended June 30, 2016 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 160,827 $ 34 $ 18,353 $ 179,214 $ - $ 179,214 Interest expense (14,107) - (16,820) (30,927) - (30,927) Net interest income 146,720 34 1,533 148,287 - 148,287 Provision for loan and lease losses, net (28,234) - - (28,234) - (28,234) Non-interest income, net 16,009 12,930 (281) 28,658 - 28,658 Non-interest expenses (97,786) (7,853) (3,043) (108,682) - (108,682) Intersegment revenue 787 - 149 936 (936) - Intersegment expenses (149) (577) (210) (936) 936 - Income (loss) before income taxes $ 37,347 $ 4,534 $ (1,852) $ 40,029 $ - $ 40,029 Total assets $ 5,829,987 $ 19,054 $ 1,800,838 $ 7,649,879 $ (937,283) $ 6,712,596 |
Accounting Policies (Policies)
Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
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 retirem ent 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 liabilit ies of Eurobank, a Puerto Rico commercial bank, in an FDIC-assisted acquisition. On February 6, 2017, the Bank and the FDIC agreed to terminate the shared-loss agreements related to the Eurobank Acquisition. On December 18, 2012, the Company acquired a gro up 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.” Th e businesses acquired in these acquisitions have been integrated with the Company’s existing business. |
New Accounting Pronouncements Policy [Policy Text Block] | Recent Accounting Developments Scope of Modification Accounting. In May 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-09 that clarifies when changes to the terms or conditions of a share-based payment award must be accounted for as modifications. Entities will apply the modification accounting guidance if the value, vesting conditions or classification of the award changes. ASU No. 2017-08 is effective for fiscal years, and interim periods, beginning after December 15, 2018, with early adoption permitted. The Company's Omnibus Plan provides for equity-based compensation incentives through the grant of stock options, stock appreci ation rights, restricted stock, restricted stock units, and dividend equivalents, as well as equity-based performance awards . If any change occurs in the future to the Omnibus Plan, the Company will evaluate it under this guideline. Premium Amortization o n Purchased Callable Debt Securities Receivables . In March 2017, the FASB issued ASU No. 2017-08, which requires the amortization of the premium on callable debt securities to the earliest call date. The amortization period for callable debt securities pu rchased at a discount would not be impacted by the ASU. This ASU will be applied prospectively for annual and interim periods in fiscal years beginning after December 15, 2018. T he ASU is not expected to have a material impact on the Company's consolidated financial position or results of operations. At June 30, 2017, the Company does not have callable debt securities. Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), Health and Welfare Benefit Plans (Topic 965): Employee Benefit Plan Master Trust Reporting (a consensus of the Emerging Issues Task Force). In February 2017, the FASB issued ASU No. 2017-06, which intended to reduce diversity and improve the usefulness of information provided by employee benefit plans that hold interests in master trusts. This ASU will be applied prospectively for annual and interim peri ods in fiscal years beginning after December 15, 2018. The ASU is not expected to have a material impact on the Company's consolidated financial position or results of operations. Simplifying the Test for Goodwill Impairment. In January 2017, the FASB iss ued ASU No. 2017-04, which simplifies the measurement of goodwill impairment. An entity will no longer perform a hypothetical purchase price allocation to measure goodwill impairment. Instead, impairment will be measured using the difference between the ca rrying amount and the fair value of the reporting unit. This ASU will be applied prospectively for annual and interim periods in fiscal years beginning after December 15, 2019. We are currently assessing the impact that the adoption of ASU 2017-04 will hav e on our consolidated financial statements and related disclosures. Restricted Cash. In November 2016, the FASB issued ASU No. 2016-18, which amends Topic 230 (Statement of Cash Flows) and requires that a statement of cash flows explain the change durin g the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. ASU No. 2016-18 is intended to reduce diversity in practice in how restricted cash or restricted cash equivalents are pr esented and classified in the statement of cash flows. ASU No. 2016-18 is effective for fiscal years, and interim periods, beginning after December 15, 2017, with early adoption permitted. The standard requires application using a retrospective transition method. The adoption of ASU No. 2016-18 will change the presentation and classification of restricted cash and restricted cash equivalents in our consolidated statements of cash flows. Measurement of Credit Losses on Financial Instruments. In June 2016, t he FASB issued ASU No. 2016-13, which includes an impairment model (known as the current expected credit loss (CECL) model) that is based on expected losses rather than incurred losses. Under the new guidance, an entity recognizes as an allowance its estim ate of expected credit losses. ASU No. 2016-13 is effective for fiscal years, and interim periods, beginning after December 15, 2019. While we continue to assess the impact of ASU No. 2016-13, we have developed a roadmap with time schedules in place from 2 016 to implementation date. The Co mpany is in the process of assessing the methodology and the software to be used. Leases. In February 2016, the FASB issued ASU No. 2016-02, which requires lessees to recognize a right-of-use asset and related lease liabi lity for leases classified as operating leases at the commencement date that have lease terms of more than 12 months. This ASU retains the classification distinction between finance leases and operating leases. ASU No. 2016-02 is effective for fiscal years , and interim periods, beginning after December 15, 2018. We are currently assessing the impact the adoption of ASU 2016-02 will have on our consolidated financial statements and related disclosures. Revenue from Contracts with Customers. In May 2014, the FASB issued ASU No. 2014-09, which supersedes the revenue recognition requirements Topic 605 (Revenue Recognition), and most industry-specific guidance. ASU No. 2014-09 is based on the principle that revenue is recognized to depict the transfer of goods o r services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU No. 2014-09 also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. ASU No. 2014-09 permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (modified retrospective method). In August 2015, the FASB iss ued ASU No. 2015-14 to defer the effective date of ASU No. 2014-09 by one year to fiscal years beginning after December 15, 2017. ASU No. 2015-14 also permits early adoption of ASU No. 2014-09, but not before the original effective date, which was for fisc al years beginning after December 15, 2016. While the new guidance does not apply to revenue associated with loans or securities, the Co mpany has been working to identify the customer contracts within the scope of the new guidance and assess the related re venues to determine if any accounting or internal control changes will be required for the new provisions. While the assessment is not complete, the timing of the Co mpany ’s revenue recognition is not expected t o materially change. Overall, the Co mpany does not expect the new guidance to have a material impact on its consolidated financial position or results of operations. The next phase of the Co mpany ’s implementation work will be to evaluate required disclosures to be in compliance with the standard . Other than the accounting pronouncements disclosed above, there are no other new accounting pronouncements issued during the first quarter of 2017 that could have a material impact on the Company's financial position, operating results or financial state ments disclosures. |
Restricted Cash (Tables)
Restricted Cash (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Restricted Cash And Investments Abstract | |
Restricted Cash Components and Its Secured Investments | The following table includes the composition of the Company’s restricted cash June 30, December 31, 2017 2016 (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 1,050 $ 3,030 $ 3,030 |
Investments Securities (Tables)
Investments Securities (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Investments [Abstract] | |
Investment Table Text Block | The amortized cost, gross unrealized gains and losses, fair value, and weighted average yield of the securities owned by the Company at June 30 , 2017 and December 31 , 2016 were as follows: June 30, 2017 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 $ 346,388 $ 2,102 $ 1,797 $ 346,693 2.35% GNMA certificates 145,538 1,633 487 146,684 2.93% CMOs issued by US government-sponsored agencies 92,622 10 1,078 91,554 1.89% Total mortgage-backed securities 584,548 3,745 3,362 584,931 2.42% Investment securities US Treasury securities 55,031 3 44 54,990 1.13% Obligations of US government-sponsored agencies 3,353 - 27 3,326 1.38% Obligations of Puerto Rico government and public instrumentalities 4,680 - 339 4,341 5.55% Other debt securities 1,668 71 - 1,739 3.00% Total investment securities 64,732 74 410 64,396 1.51% Total securities available for sale $ 649,280 $ 3,819 $ 3,772 $ 649,327 2.33% Held-to-maturity Mortgage-backed securities FNMA and FHLMC certificates $ 555,407 $ 212 $ 6,024 $ 549,595 2.11% December 31, 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 $ 422,168 $ 6,354 $ 3,036 $ 425,486 2.59% GNMA certificates 163,614 2,241 620 165,235 2.95% CMOs issued by US government-sponsored agencies 103,990 64 2,223 101,831 1.88% Total mortgage-backed securities 689,772 8,659 5,879 692,552 2.57% Investment securities US Treasury securities 49,672 - 618 49,054 1.73% Obligations of US government-sponsored agencies 3,903 - 19 3,884 1.38% Obligations of Puerto Rico government and public instrumentalities 4,680 - 607 4,073 5.55% Other debt securities 1,840 81 - 1,921 3.00% Total investment securities 60,095 81 1,244 58,932 2.04% Total securities available-for-sale $ 749,867 $ 8,740 $ 7,123 $ 751,484 2.53% Held-to-maturity Mortgage-backed securities FNMA and FHLMC certificates $ 599,884 $ 145 $ 7,266 $ 592,763 2.15% The amortized cost and fair value of the Company’s investment securities at June 30 , 2017 , by contractual maturity, are shown in the next table. June 30, 2017 Available-for-sale Held-to-maturity Amortized Cost Fair Value Amortized Cost Fair Value (In thousands) Mortgage-backed securities Due from 1 to 5 years FNMA and FHLMC certificates $ 8,102 $ 8,185 $ - $ - Total due from 1 to 5 years 8,102 8,185 - - Due after 5 to 10 years CMOs issued by US government-sponsored agencies $ 70,850 $ 70,047 $ - $ - FNMA and FHLMC certificates 69,364 69,403 - - Total due after 5 to 10 years 140,214 139,450 - - Due after 10 years FNMA and FHLMC certificates $ 268,922 $ 269,105 $ 555,407 $ 549,595 GNMA certificates 145,538 146,684 - - CMOs issued by US government-sponsored agencies 21,772 21,507 - - Total due after 10 years 436,232 437,296 555,407 549,595 Total mortgage-backed securities 584,548 584,931 555,407 549,595 Investment securities Due less than one year US Treasury securities $ 45,092 $ 45,095 $ - $ - Total due in less than one year 45,092 45,095 - - Due from 1 to 5 years US Treasury securities $ 9,939 $ 9,895 $ - $ - Obligations of US government and sponsored agencies 3,353 3,326 - - Obligations of Puerto Rico government and public instrumentalities 4,680 4,341 - - Total due from 1 to 5 years 17,972 17,562 - - Due from 5 to 10 years Other debt securities 1,668 1,739 - - Total due after 5 to 10 years 1,668 1,739 - - Total investment securities 64,732 64,396 - - Total $ 649,280 $ 649,327 $ 555,407 $ 549,595 |
Realized Gain Loss On Investments Table Text Block | Six-Month Period Ended June 30, 2017 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 $ 107,510 $ 102,311 $ 5,199 $ - GNMA certificates 65,284 63,704 1,580 - Investment securities US Treasury securities 39,409 39,297 112 - Total $ 212,203 $ 205,312 $ 6,891 $ - Six-Month Period Ended June 30, 2016 Book Value Description Sale Price at Sale Gross Gains Gross Losses (In thousands) Sale of securities available-for-sale Mortgage-backed securities FNMA and FHLMC certificates $ 293,505 $ 277,181 $ 16,324 $ - Investment securities Obligations of PR government and public instrumentalities 6,978 11,095 - 4,117 Total mortgage-backed securities $ 300,483 $ 288,276 $ 16,324 $ 4,117 |
Unrealized Gain Loss On Investments Table Text Block | The following tables sho w the Company’s gross unrealized losses and fair value of investment securities available-for-sale and held-to-maturity, aggregated by investment category and the length of time that individual securities have been in a continuo us unrealized loss position at June 30, 2017 12 months or more Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies $ 30,309 $ 342 $ 29,967 Obligations of US government and sponsored agencies 3,353 27 3,326 Obligations of Puerto Rico government and public instrumentalities 4,680 339 4,341 $ 38,342 $ 708 $ 37,634 Securities held to maturity FNMA and FHLMC certificates $ 6,753 $ 164 $ 6,589 Less than 12 months Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies $ 61,115 $ 736 $ 60,379 FNMA and FHLMC certificates 164,473 1,797 162,676 GNMA certificates 30,437 487 29,950 US Treausury Securities 10,263 44 10,219 $ 266,288 $ 3,064 $ 263,224 Securities held-to-maturity FNMA and FHLMC Certificates $ 471,100 $ 5,860 $ 465,240 Total Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies $ 91,424 $ 1,078 $ 90,346 FNMA and FHLMC certificates 164,473 1,797 162,676 Obligations of Puerto Rico government and public instrumentalities 4,680 339 4,341 Obligations of US government and sponsored agencies 3,353 27 3,326 GNMA certificates 30,437 487 29,950 US Treausury Securities 10,263 44 10,219 $ 304,630 $ 3,772 $ 300,858 Securities held-to-maturity FNMA and FHLMC certificates $ 477,853 $ 6,024 $ 471,829 December 31, 2016 12 months or more Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale Obligations of Puerto Rico government and public instrumentalities $ 4,680 $ 607 $ 4,073 CMOs issued by US government-sponsored agencies 33,883 793 33,090 $ 38,563 $ 1,400 $ 37,163 Less than 12 months Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies 67,777 1,430 66,347 FNMA and FHLMC certificates 184,782 3,036 181,746 Obligations of US government and sponsored agencies 3,903 19 3,884 GNMA certificates 29,445 620 28,825 US Treausury Securities 49,172 618 48,554 $ 335,079 $ 5,723 $ 329,356 Securities held to maturity FNMA and FHLMC certificates $ 525,258 $ 7,266 $ 517,992 Total Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies 101,660 2,223 99,437 FNMA and FHLMC certificates 184,782 3,036 181,746 Obligations of Puerto Rico government and public instrumentalities 4,680 607 4,073 Obligations of US government and sponsored agencies 3,903 19 3,884 GNMA certificates 29,445 620 28,825 US Treausury Securities 49,172 618 48,554 $ 373,642 $ 7,123 $ 366,519 Securities held to maturity FNMA and FHLMC certificates $ 525,258 $ 7,266 $ 517,992 |
Other Than Temporary Impairment Credit Losses Recognized In Earnings | The following table presents a rollfor ward of credit-related impairment losses recognized in earnings for the six-month period s ended June 30 , 2017 and 2016 on available-for-sale securities Six-Month Period Ended June 30, 2017 2016 (In thousands) Balance at beginning of period $ - $ 1,490 Reductions for securities sold during the period (realized) - (1,490) Balance at end of period $ - $ - |
Loans Receivable (Tables)
Loans Receivable (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | |
Schedule Of Accounts Notes Loans And Financing Receivable Text Block | June 30, December 31, 2017 2016 (In thousands) Originated and other loans and leases held for investment: Mortgage $ 699,290 $ 721,494 Commercial 1,270,844 1,277,866 Consumer 314,267 290,515 Auto and leasing 807,204 756,395 3,091,605 3,046,270 Allowance for loan and lease losses on originated and other loans and leases (69,666) (59,300) 3,021,939 2,986,970 Deferred loan costs, net 6,574 5,766 Total originated and other loans loans held for investment, net 3,028,513 2,992,736 Acquired loans: Acquired BBVAPR loans: Accounted for under ASC 310-20 (Loans with revolving feature and/or acquired at a premium) Commercial 5,350 5,562 Consumer 30,233 32,862 Auto 33,661 53,026 69,244 91,450 Allowance for loan and lease losses on acquired BBVAPR loans accounted for under ASC 310-20 (3,348) (4,300) 65,896 87,150 Accounted for under ASC 310-30 (Loans acquired with deteriorated credit quality, including those by analogy) Mortgage 544,325 569,253 Commercial 266,002 292,564 Consumer 2,163 4,301 Auto 58,078 85,676 870,568 951,794 Allowance for loan and lease losses on acquired BBVAPR loans accounted for under ASC 310-30 (37,494) (31,056) 833,074 920,738 Total acquired BBVAPR loans, net 898,970 1,007,888 Acquired Eurobank loans: Loans secured by 1-4 family residential properties 70,329 73,018 Commercial 66,894 81,460 Consumer 1,256 1,372 Total acquired Eurobank loans 138,479 155,850 Allowance for loan and lease losses on Eurobank loans (21,787) (21,281) Total acquired Eurobank loans, net 116,692 134,569 Total acquired loans, net 1,015,662 1,142,457 Total held for investment, net 4,044,175 4,135,193 Mortgage loans held-for-sale 14,044 12,499 Other loans held for sale 33,647 - Total loans, net $ 4,091,866 $ 4,147,692 |
Past Due Financing Receivables [Table Text Block] | The following tables present the aging of the recorded investment in gross originated and other loans held for investment a t June 30 , 2017 and December 31 , 2016 , by class of loans. Mortgage loans past due include delinquent loans in the GNMA buy-back option program. Servicers of loans underlying GNMA mortgage-backed securities must report as their own assets the defaulted loans that they have the option (but not the obligation) to repurchase, even when they elect not to exercise that option June 30, 2017 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 $ 193 $ 1,406 $ 2,930 $ 4,529 $ - $ 43,252 $ 47,781 $ 168 Years 2003 and 2004 333 3,162 6,319 9,814 299 76,028 86,141 - Year 2005 106 2,247 3,500 5,853 284 39,796 45,933 - Year 2006 262 1,641 5,882 7,785 185 56,871 64,841 - Years 2007, 2008 and 2009 435 1,693 8,653 10,781 38 60,375 71,194 335 Years 2010, 2011, 2012, 2013 324 1,506 6,845 8,675 - 124,191 132,866 164 Years 2014, 2015, 2016 and 2017 - 184 1,380 1,564 - 115,824 117,388 - 1,653 11,839 35,509 49,001 806 516,337 566,144 667 Non-traditional - 161 4,303 4,464 - 16,011 20,475 - Loss mitigation program 11,348 7,291 13,806 32,445 2,921 67,744 103,110 1,217 13,001 19,291 53,618 85,910 3,727 600,092 689,729 1,884 Home equity secured personal loans - - - - - 332 332 - GNMA's buy-back option program - - 9,229 9,229 - - 9,229 - 13,001 19,291 62,847 95,139 3,727 600,424 699,290 1,884 Commercial Commercial secured by real estate: Corporate - - - - - 226,979 226,979 - Institutional - - 254 254 - 46,806 47,060 - Middle market - - 3,601 3,601 634 224,571 228,806 - Retail 1,350 1,242 8,301 10,893 4,496 230,863 246,252 - Floor plan - - - - - 2,916 2,916 - Real estate - - - - - 15,783 15,783 - 1,350 1,242 12,156 14,748 5,130 747,918 767,796 - Other commercial and industrial: Corporate - - - - - 161,839 161,839 - Institutional - - - - - 128,479 128,479 - Middle market 881 - - 881 1,227 84,158 86,266 - Retail 327 848 1,300 2,475 695 85,673 88,843 - Floor plan - - 53 53 - 37,568 37,621 - 1,208 848 1,353 3,409 1,922 497,717 503,048 - 2,558 2,090 13,509 18,157 7,052 1,245,635 1,270,844 - June 30, 2017 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 $ 442 $ 288 $ 636 $ 1,366 $ - $ 26,308 $ 27,674 $ - Overdrafts 29 13 20 62 - 167 229 - Personal lines of credit 59 - 29 88 - 2,188 2,276 - Personal loans 2,693 1,752 1,096 5,541 699 262,728 268,968 - Cash collateral personal loans 216 3 - 219 - 14,901 15,120 - 3,439 2,056 1,781 7,276 699 306,292 314,267 - Auto and leasing 45,914 20,458 8,205 74,577 90 732,537 807,204 - Total $ 64,912 $ 43,895 $ 86,342 $ 195,149 $ 11,568 $ 2,884,888 $ 3,091,605 $ 1,884 December 31, 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 $ 196 $ 2,176 $ 3,371 $ 5,743 $ - $ 44,542 $ 50,285 $ 158 Years 2003 and 2004 156 3,872 7,272 11,300 181 79,226 90,707 - Year 2005 - 1,952 4,306 6,258 180 43,571 50,009 - Year 2006 506 2,905 6,261 9,672 94 59,534 69,300 - Years 2007, 2008 and 2009 409 1,439 11,732 13,580 111 63,038 76,729 398 Years 2010, 2011, 2012, 2013 349 1,772 10,417 12,538 126 127,196 139,860 583 Years 2014, 2015 and 2016 47 123 1,357 1,527 - 106,672 108,199 - 1,663 14,239 44,716 60,618 692 523,779 585,089 1,139 Non-traditional - 498 4,730 5,228 - 17,631 22,859 - Loss mitigation program 8,911 7,205 16,541 32,657 3,599 67,272 103,528 1,724 10,574 21,942 65,987 98,503 4,291 608,682 711,476 2,863 Home equity secured personal loans - - - - - 337 337 - GNMA's buy-back option program - - 9,681 9,681 - - 9,681 - 10,574 21,942 75,668 108,184 4,291 609,019 721,494 2,863 Commercial Commercial secured by real estate: Corporate - - - - - 242,770 242,770 - Institutional - - 254 254 - 26,546 26,800 - Middle market - 60 3,319 3,379 1,304 230,298 234,981 - Retail 154 350 6,594 7,098 4,638 237,992 249,728 - Floor plan - - - - - 2,989 2,989 - Real estate - - - - - 16,395 16,395 - 154 410 10,167 10,731 5,942 756,990 773,663 - Other commercial and industrial: Corporate - - - - - 136,438 136,438 - Institutional - - - - - 180,285 180,285 - Middle market - - - - 1,278 80,355 81,633 - Retail 930 100 969 1,999 294 71,412 73,705 - Floor plan 8 - 61 69 - 32,073 32,142 - 938 100 1,030 2,068 1,572 500,563 504,203 - 1,092 510 11,197 12,799 7,514 1,257,553 1,277,866 - December 31, 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 $ 527 $ 283 $ 525 $ 1,335 $ - $ 25,023 $ 26,358 $ - Overdrafts 16 12 5 33 - 174 207 - Personal lines of credit 41 4 32 77 - 2,327 2,404 - Personal loans 2,474 1,489 1,081 5,044 259 240,969 246,272 - Cash collateral personal loans 240 20 4 264 - 15,010 15,274 - 3,298 1,808 1,647 6,753 259 283,503 290,515 - Auto and leasing 42,714 19,014 8,173 69,901 181 686,313 756,395 - Total $ 57,678 $ 43,274 $ 96,685 $ 197,637 $ 12,245 $ 2,836,388 $ 3,046,270 $ 2,863 The following tables present the aging of the recorded investment in gross acquired BBVAPR loans accounted for under ASC 310-20 as of June 30 , 2017 and December 31, 2016 , by class of lo ans: June 30, 2017 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 $ 28 $ - $ 98 $ 126 $ - $ - $ 126 $ - Floor plan - - 959 959 - 1,148 2,107 - 28 - 1,057 1,085 - 1,148 2,233 - Other commercial and industrial Retail 50 32 45 127 - 2,988 3,115 - Floor plan - - 2 2 - - 2 - 50 32 47 129 - 2,988 3,117 - 78 32 1,104 1,214 - 4,136 5,350 - Consumer Credit cards 676 203 489 1,368 - 26,206 27,574 - Personal loans 133 10 47 190 - 2,469 2,659 - 809 213 536 1,558 - 28,675 30,233 - Auto 2,435 1,231 325 3,991 - 29,670 33,661 - Total $ 3,322 $ 1,476 $ 1,965 $ 6,763 $ - $ 62,481 $ 69,244 $ - December 31, 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 $ 33 $ - $ 110 $ 143 $ - $ - $ 143 $ - Floor plan - - 219 219 929 1,242 2,390 - 33 - 329 362 929 1,242 2,533 - Other commercial and industrial Retail 97 34 121 252 - 2,775 3,027 - Floor plan - - 2 2 - - 2 - 97 34 123 254 - 2,775 3,029 - 130 34 452 616 929 4,017 5,562 - Consumer Credit cards 736 369 708 1,813 - 28,280 30,093 - Personal loans 48 14 120 182 - 2,587 2,769 - 784 383 828 1,995 - 30,867 32,862 - Auto 3,652 1,355 517 5,524 15 47,487 53,026 - Total $ 4,566 $ 1,772 $ 1,797 $ 8,135 $ 944 $ 82,371 $ 91,450 $ - |
Carrying Amounts Of Acquired Loans Tabular Disclosure [Table Text Block] | June 30, December 31, 2017 2016 (In thousands) Contractual required payments receivable: $ 1,569,855 $ 1,669,602 Less: Non-accretable discount 366,762 363,107 Cash expected to be collected 1,203,093 1,306,495 Less: Accretable yield 332,525 354,701 Carrying amount, gross 870,568 951,794 Less: allowance for loan and lease losses 37,494 31,056 Carrying amount, net $ 833,074 $ 920,738 |
Accretable Yield for Acquired Loans [Table Text Block] | Quarter Ended June 30, 2017 Mortgage Commercial Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 276,817 $ 46,902 $ 6,583 $ 3,058 $ 333,360 Accretion (7,694) (4,513) (1,776) (556) (14,539) Change in expected cash flows 1 15,993 98 50 16,142 Transfer (to) from non-accretable discount 1,024 (2,344) (52) (1,066) (2,438) Balance at end of period $ 270,148 $ 56,038 $ 4,853 $ 1,486 $ 332,525 Non-Accretable Discount Activity: Balance at beginning of period $ 309,993 $ 14,803 $ 22,564 $ 18,159 $ 365,519 Change in actual and expected losses (2,465) (280) 1,344 206 (1,195) Transfer from (to) accretable yield (1,024) 2,344 52 1,066 2,438 Balance at end of period $ 306,504 $ 16,867 $ 23,960 $ 19,431 $ 366,762 Six-Month Period Ended June 30, 2017 Mortgage Commercial Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 292,115 $ 50,366 $ 8,538 $ 3,682 $ 354,701 Accretion (15,584) (9,494) (3,923) (1,158) (30,159) Change in expected cash flows 2 16,191 150 86 16,429 Transfer (to) from non-accretable discount (6,385) (1,025) 88 (1,124) (8,446) Balance at end of period $ 270,148 $ 56,038 $ 4,853 $ 1,486 $ 332,525 Non-Accretable Discount Activity: Balance at beginning of period $ 305,615 $ 16,965 $ 22,407 $ 18,120 $ 363,107 Change in actual and expected losses (5,496) (1,123) 1,641 187 (4,791) Transfer from (to) accretable yield 6,385 1,025 (88) 1,124 8,446 Balance at end of period $ 306,504 $ 16,867 $ 23,960 $ 19,431 $ 366,762 Quarter Ended June 30, 2016 Mortgage Commercial Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 260,557 $ 57,258 $ 17,587 $ 5,261 $ 340,663 Accretion (8,294) (6,579) (3,616) (870) (19,359) Change in actual and expected losses - 2,654 630 (1) 3,283 Transfer from (to) non-accretable discount 31,560 (1,026) (498) 495 30,531 Balance at end of period $ 283,823 $ 52,307 $ 14,103 $ 4,885 $ 355,118 Non-Accretable Discount Activity: Balance at beginning of period $ 370,155 $ 18,148 $ 21,938 $ 18,735 $ 428,976 Change in actual and expected losses (2,442) (1,173) (315) (15) (3,945) Transfer (to) from accretable yield (31,560) 1,026 498 (495) (30,531) Balance at end of period $ 336,153 $ 18,001 $ 22,121 $ 18,225 $ 394,500 Six-Month Period Ended June 30, 2016 Mortgage Commercial Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 268,794 $ 65,026 $ 21,578 $ 6,290 $ 361,688 Accretion (16,601) (14,287) (7,827) (1,808) (40,523) Change in actual and expected losses - 2,982 631 (1) 3,612 Transfer (to) from non-accretable discount 31,630 (1,414) (279) 404 30,341 Balance at end of period $ 283,823 $ 52,307 $ 14,103 $ 4,885 $ 355,118 Non-Accretable Discount Activity: Balance at beginning of period $ 374,772 $ 18,545 $ 22,039 $ 18,834 $ 434,190 Change in actual and expected losses (6,989) (1,958) (197) (205) (9,349) Transfer from (to) accretable yield (31,630) 1,414 279 (404) (30,341) Balance at end of period $ 336,153 $ 18,001 $ 22,121 $ 18,225 $ 394,500 |
Eurobank loans carrying amount [Table Text Block] | June 30 December 31 2017 2016 (In thousands) Contractual required payments receivable: $ 201,564 $ 232,698 Less: Non-accretable discount 9,010 12,340 Cash expected to be collected 192,554 220,358 Less: Accretable yield 54,075 64,508 Carrying amount, gross 138,479 155,850 Less: Allowance for loan and lease losses 21,787 21,281 Carrying amount, net $ 116,692 $ 134,569 |
Accretable Yield for Acquired Eurobank Loans [Table Text Block] | Quarter Ended June 30, 2017 Loans Secured by 1-4 Family Residential Properties Commercial Construction & Development Secured by 1-4 Family Residential Properties Leasing Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 44,697 12,743 1,871 - - 59,311 Accretion (1,923) (4,061) (5) (11) (37) (6,037) Change in expected cash flows 19 543 6 (22) 74 620 Transfer from (to) non-accretable discount 219 (68) 34 33 (37) 181 Balance at end of period $ 43,012 $ 9,157 $ 1,906 $ - $ - $ 54,075 Non-Accretable Discount Activity: Balance at beginning of period $ 7,426 2,471 333 - 6 10,236 Change in actual and expected losses (520) (529) - 33 (29) (1,045) Transfer from (to) accretable yield (219) 68 (34) (33) 37 (181) Balance at end of period $ 6,687 $ 2,010 $ 299 $ - $ 14 $ 9,010 Six-Month Period Ended June 30, 2017 Loans Secured by 1-4 Family Residential Properties Commercial Construction & Development Secured by 1-4 Family Residential Properties Leasing Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 45,839 $ 16,475 $ 2,194 $ - $ - $ 64,508 Accretion (3,827) (8,571) (43) (11) (195) (12,647) Change in expected cash flows 100 1,321 43 (165) 384 1,683 Transfer from (to) non-accretable discount 900 (68) (288) 176 (189) 531 Balance at end of period $ 43,012 $ 9,157 $ 1,906 $ - $ - $ 54,075 Non-Accretable Discount Activity: Balance at beginning of period $ 8,441 $ 3,880 $ 11 $ - $ 8 $ 12,340 Change in actual and expected losses (854) (1,938) - 176 (183) (2,799) Transfer from (to) accretable yield (900) 68 288 (176) 189 (531) Balance at end of period $ 6,687 $ 2,010 $ 299 $ - $ 14 $ 9,010 Quarter Ended June 30, 2016 Loans Secured by 1-4 Family Residential Properties Commercial Construction & Development Secured by 1-4 Family Residential Properties Leasing Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 50,787 $ 33,203 $ 2,237 - $ - $ 86,227 Accretion (2,263) (4,528) (33) 2 (76) (6,898) Change in actual and expected losses (198) 1,619 - (77) 81 1,425 Transfer from (to) non-accretable discount 10 (1,152) - 75 (5) (1,072) Balance at end of period $ 48,336 $ 29,142 $ 2,204 $ - $ - $ 79,682 Non-Accretable Discount Activity: Balance at beginning of period $ 12,703 $ - $ - $ - $ - $ 12,703 Change in actual and expected losses (1,138) (1,152) - 75 (5) (2,220) Transfer (to) from accretable yield (10) 1,152 - (75) 5 1,072 Balance at end of period $ 11,555 $ - $ - $ - $ - $ 11,555 Six-Month Period Ended June 30, 2016 Loans Secured by 1-4 Family Residential Properties Commercial Construction & Development Secured by 1-4 Family Residential Properties Leasing Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of period $ 51,954 $ 26,970 $ 2,255 $ - $ 3,213 $ 84,392 Accretion (4,529) (8,623) (47) 2 (1,261) (14,458) Change in expected cash flows 786 12,712 (23) (77) (1,947) 11,451 Transfer from (to) non-accretable discount 125 (1,917) 19 75 (5) (1,703) Balance at end of period $ 48,336 $ 29,142 $ 2,204 $ - $ - $ 79,682 Non-Accretable Discount Activity: Balance at beginning of period $ 12,869 $ - $ - $ - $ 8,287 $ 21,156 Change in actual and expected cash flows (1,189) (1,917) 19 75 (8,292) (11,304) Transfer (to) from accretable yield (125) 1,917 (19) (75) 5 1,703 Balance at end of period $ 11,555 $ - $ - $ - $ - $ 11,555 |
Financing Receivable Recorded Investment Nonaccrual Status By Class Of Loans [Table Text Block] | Non-accrual Loans The following table presents the recorded investment in loans in non-accrual status by class of loans as of June 30 , 2017 and December 31 , 2016 : June 30, December 31, 2017 2016 (In thousands) Originated and other loans and leases held for investment Mortgage Traditional (by origination year): Up to the year 2002 $ 2,824 $ 3,336 Years 2003 and 2004 6,809 7,668 Year 2005 3,890 4,487 Year 2006 6,067 6,746 Years 2007, 2008 and 2009 8,633 11,526 Years 2010, 2011, 2012, 2013 6,680 10,089 Years 2014, 2015, 2016 and 2017 1,380 1,404 36,283 45,256 Non-traditional 4,303 4,730 Loss mitigation program 18,082 20,744 58,668 70,730 Commercial Commercial secured by real estate Institutional 254 - Middle market 4,236 4,682 Retail 14,239 11,561 18,729 16,243 Other commercial and industrial Middle market 2,108 1,278 Retail 2,629 1,950 Floor plan 53 61 4,790 3,289 23,519 19,532 Consumer Credit cards 636 525 Overdrafts 20 - Personal lines of credit 29 32 Personal loans 1,999 1,420 Cash collateral personal loans 3 4 2,687 1,981 Auto and leasing 8,295 9,052 Total non-accrual originated loans $ 93,169 $ 101,295 June 30, December 31, 2017 2016 (In thousands) Acquired BBVAPR loans accounted for under ASC 310-20 Commercial Commercial secured by real estate Retail $ 127 $ 143 Floor plan 959 1,149 1,086 1,292 Other commercial and industrial Retail 45 121 Floor plan 2 2 47 123 1,133 1,415 Consumer Credit cards 489 708 Personal loans 47 120 536 828 Auto 325 552 Total non-accrual acquired BBVAPR loans accounted for under ASC 310-20 1,994 2,795 Total non-accrual loans $ 95,163 $ 104,090 |
Impaired Financing Receivables [Table Text Block] | Originated and Other Loans and Leases Held for Investment The 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 allowance for loan and lease losses at June 30 , 2017 and December 31 , 2016 are as follows: June 30, 2017 Unpaid Recorded Related Principal Investment Allowance Coverage (In thousands) Impaired loans with specific allowance: Commercial $ 21,475 $ 19,486 $ 1,940 10% Residential impaired and troubled-debt restructuring 95,821 87,042 8,630 10% Impaired loans with no specific allowance: Commercial 44,367 37,842 N/A 0% Total investment in impaired loans $ 161,663 $ 144,370 $ 10,570 7% December 31, 2016 Unpaid Recorded Related Principal Investment Allowance Coverage (In thousands) Impaired loans with specific allowance: Commercial $ 13,183 $ 11,698 $ 1,626 14% Residential impaired and troubled-debt restructuring 100,101 91,650 7,761 8% Impaired loans with no specific allowance Commercial 49,038 41,441 N/A 0% Total investment in impaired loans $ 162,322 $ 144,789 $ 9,387 6% Acquired BBVAPR Loans Accounted for under ASC 310-20 (Loans with revolving feature and/or acquired at a premium) The Company’s recorded investment in acquired BBVAPR commercial loans accounted for under ASC 310-20 that were individually evaluated for impairment and the related allowance for loan and lease losses at June 30 , 2017 and December 31 , 2016 are as follows: June 30, 2017 Unpaid Recorded Related Principal Investment Allowance Coverage (In thousands) Impaired loans with specific allowance Commercial $ - $ - $ - 0% Impaired loans with no specific allowance Commercial $ 926 $ 761 N/A 0% Total investment in impaired loans $ 926 $ 761 $ - 0% December 31, 2016 Unpaid Recorded Specific Principal Investment Allowance Coverage (In thousands) Impaired loans with specific allowance Commercial $ 944 $ 929 $ 141 15% Impaired loans with no specific allowance Commercial $ 240 $ 221 N/A 0% Total investment in impaired loans $ 1,184 $ 1,150 $ 141 12% Acquired BBVAPR Loans Accounted for under ASC 310-30 (including those accounted for under ASC 310-30 by analogy) The Company’s recorded investment in acquired BBVAPR loan pools accounted for under ASC 310-30 that have recorded impairments and their related allowance for loan and lease losses at June 30 , 2017 and December 31 , 2016 are as follows June 30, 2017 Coverage Unpaid Recorded to Recorded Principal Investment Allowance Investment (In thousands) Impaired loan pools with specific allowance: Mortgage $ 567,845 $ 544,326 $ 4,141 1% Commercial 224,838 217,495 25,614 12% Auto 58,132 58,078 7,739 13% Total investment in impaired loan pools $ 850,815 $ 819,899 $ 37,494 5% December 31 , 2016 Coverage Unpaid Recorded to Recorded Principal Investment Allowance Investment (In thousands) Impaired loan pools with specific allowance: Mortgage $ 595,757 $ 569,250 $ 2,682 0% Commercial 199,092 195,528 23,452 12% Auto 92,797 85,676 4,922 6% Total investment in impaired loan pools $ 887,646 $ 850,454 $ 31,056 4% Acquired Eurobank Loans The Company’s recorded investment in acquired Eurobank loan pools that have recorded impairments and their related allowance for loan and lease losses as of June 30 , 2017 and December 31 , 2016 are as follows : June 30, 2017 Coverage Unpaid Recorded to Recorded Principal Investment Allowance Investment (In thousands) Impaired loan pools with specific allowance: Loans secured by 1-4 family residential properties $ 83,293 $ 70,329 $ 13,651 19% Commercial 56,193 53,389 8,131 15% Consumer 14 1,256 5 0% Total investment in impaired loan pools $ 139,500 $ 124,974 $ 21,787 17% December 31, 2016 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 $ 88,017 $ 73,018 $ 11,947 16% Commercial 81,992 72,140 9,328 13% Consumer 29 1,372 6 0% Total investment in impaired loan pools $ 170,038 $ 146,530 $ 21,281 15% |
Impaired Financing Receivables Loans, excluding ASC 310-30 [Table Text Block] | Quarter Ended June 30, 2017 2016 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 $ 193 $ 14,908 $ 75 $ 194,759 Residential troubled-debt restructuring 723 87,615 791 91,007 Impaired loans with no specific allowance Commercial 383 44,528 149 29,579 1,299 147,051 1,015 315,345 Acquired loans accounted for under ASC 310-20: Impaired loans with specific allowance Commercial - - - - Impaired loans with no specific allowance Commercial - 763 15 789 Total interest income from impaired loans $ 1,299 $ 147,814 $ 1,030 $ 316,134 Six-Month Period Ended June 30, 2017 2016 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 $ 385 $ 13,859 $ 150 $ 195,777 Residential troubled-debt restructuring 1,427 88,579 1,591 90,650 Impaired loans with no specific allowance Commercial 766 44,211 298 31,603 Total interest income from impaired loans $ 2,578 $ 146,649 $ 2,039 $ 318,030 Acquired loans accounted for under ASC 310-20: Impaired loans with specific allowance Commercial $ - $ - $ - $ - Impaired loans with no specific allowance Commercial - 840 30 628 Total interest income from impaired loans $ 2,578 $ 147,489 $ 2,069 $ 318,658 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Modifications The following tables present the troubled-debt restructurings in all loan portfolios during the quarters and six-month periods ended June 30 , 2017 and 2016 . Quarter Ended June 30, 2017 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 27 $ 3,349 6.00% 382 $ 3,313 4.21% 367 Commercial 9 2,155 5.96% 55 2,155 5.12% 68 Consumer 37 477 12.83% 65 477 10.87% 68 Auto 4 66 6.39% 61 66 12.91% 37 Six-Month Period Ended June 30, 2017 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 59 $ 7,353 6.29% 387 $ 7,328 4.26% 378 Commercial 18 3,373 6.44% 55 3,374 5.41% 67 Consumer 62 869 11.98% 65 907 10.62% 70 Auto 7 111 7.41% 67 113 12.48% 38 Quarter Ended June 30, 2016 Number of contracts Pre-Modification Outstanding Recorded Investment Pre-Modification Weighted Average Rate Pre-Modification Weighted Average Term (in Months) Post-Modification Outstanding Recorded Investment Post-Modification Weighted Average Rate Post-Modification Weighted Average Term (in Months) (Dollars in thousands) Mortgage 19 $ 2,670 5.69% 372 $ 2,670 4.54% 494 Commercial 6 668 6.65% 65 668 5.91% 86 Consumer 26 364 12.73% 75 372 10.20% 70 Six-Month Period Ended June 30, 2016 Number of contracts Pre-Modification Outstanding Recorded Investment Pre-Modification Weighted Average Rate Pre-Modification Weighted Average Term (in Months) Post-Modification Outstanding Recorded Investment Post-Modification Weighted Average Rate Post-Modification Weighted Average Term (in Months) (Dollars in thousands) Mortgage 52 $ 6,628 5.90% 365 $ 7,525 4.73% 493 Commercial 8 1,323 6.73% 53 1,324 6.31% 61 Consumer 47 556 13.27% 75 603 10.56% 71 The following table presents troubled-debt restructurings for which there was a payment default during the twelve month periods ended June 30 , 2017 and 2016 : Twelve Month Period Ended June 30, 2017 2016 Number of Contracts Recorded Investment Number of Contracts Recorded Investment (Dollars in thousands) Mortgage 22 $ 2,293 84 $ 9,869 Commercial 5 $ 563 - $ - Consumer 17 $ 156 7 $ 134 Auto - $ - 1 $ 17 |
Financing Receivable Credit Quality Indicators [Table Text Block] | As of June 30 , 2017 and December 31 , 2016 , and based on the most recent analysis performed, the risk category of gross originated and other loans and BBVAPR acquired loans accounted for under ASC 310-20 subject to risk rating by class of loans is as follows: June 30, 2017 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 $ 226,979 $ 210,369 $ 14,640 $ - $ - $ 1,970 Institutional 47,060 34,882 - 10,675 - 1,503 Middle market 228,806 189,754 9,624 3,640 - 25,788 Retail 246,252 215,629 8,796 4,891 - 16,936 Floor plan 2,916 2,916 - - - - Real estate 15,783 15,783 - - - - 767,796 669,333 33,060 19,206 - 46,197 Other commercial and industrial: Corporate 161,839 161,839 - - - - Institutional 128,479 128,479 - - - - Middle market 86,266 67,119 11,266 124 - 7,757 Retail 88,843 83,331 837 1,301 - 3,374 Floor plan 37,621 34,328 3,240 53 - - 503,048 475,096 15,343 1,478 - 11,131 Total 1,270,844 1,144,429 48,403 20,684 - 57,328 Commercial - acquired loans (under ASC 310-20) Commercial secured by real estate: Retail 126 - - 126 - - Floor plan 2,107 850 298 198 - 761 2,233 850 298 324 - 761 Other commercial and industrial: Retail 3,115 3,109 - 6 - - Floor plan 2 - - 2 - - 3,117 3,109 - 8 - - Total 5,350 3,959 298 332 - 761 Total $ 1,276,194 $ 1,148,388 $ 48,701 $ 21,016 $ - $ 58,089 December 31, 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 $ 242,770 $ 226,768 $ 16,002 $ - $ - $ - Institutional 26,800 16,067 9,090 - - 1,643 Middle market 234,981 194,913 9,437 514 - 30,117 Retail 249,728 221,687 7,860 4,318 - 15,863 Floor plan 2,989 2,989 - - - - Real estate 16,395 16,395 - - - - 773,663 678,819 42,389 4,832 - 47,623 Other commercial and industrial: Corporate 136,438 136,438 - - - - Institutional 180,285 180,185 100 - - - Middle market 81,633 63,556 16,150 149 - 1,778 Retail 73,705 68,529 731 740 - 3,705 Floor plan 32,142 29,267 2,814 28 - 33 504,203 477,975 19,795 917 - 5,516 Total 1,277,866 1,156,794 62,184 5,749 - 53,139 Commercial - acquired loans (under ASC 310-20) Commercial secured by real estate: Retail 143 - - 143 - - Floor plan 2,390 905 337 - - 1,148 2,533 905 337 143 - 1,148 Other commercial and industrial: Retail 3,027 3,014 - 13 - - Floor plan 2 - - - - 2 3,029 3,014 - 13 - 2 Total 5,562 3,919 337 156 - 1,150 Total $ 1,283,428 $ 1,160,713 $ 62,521 $ 5,905 $ - $ 54,289 For residential and consumer loan classes, the Company evaluates credit quality based on the delinquency status of the loan. As of June 30 , 2017 and December 31 , 2016 , and based on the most recent analysis performed, the risk category of gross originated and other loans and acquired BBVAPR loans accounted for under ASC 310-20 not subject to risk rating by class of loans is as follows: June 30, 2017 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 $ 47,781 $ 42,873 $ - $ 1,346 $ 372 $ 585 $ 1,972 $ 633 Years 2003 and 2004 86,141 75,434 - 3,023 744 3,103 2,077 1,760 Year 2005 45,933 39,918 - 2,247 591 1,421 1,257 499 Year 2006 64,841 55,454 - 1,523 972 1,585 2,852 2,455 Years 2007, 2008 and 2009 71,194 59,629 - 1,447 524 1,462 5,325 2,807 Years 2010, 2011, 2012 2013 132,866 123,813 242 1,427 340 1,251 3,279 2,514 Years 2014, 2015, 2016 and 2017 117,388 115,824 - 184 122 432 665 161 566,144 512,945 242 11,197 3,665 9,839 17,427 10,829 Non-traditional 20,475 16,009 - 161 29 895 3,381 - Loss mitigation program 103,110 17,823 1,640 2,512 471 958 3,493 76,213 689,729 546,777 1,882 13,870 4,165 11,692 24,301 87,042 Home equity secured personal loans 332 332 - - - - - - GNMA's buy-back option program 9,229 - - - 1,383 3,776 4,070 - 699,290 547,109 1,882 13,870 5,548 15,468 28,371 87,042 Consumer Credit cards 27,674 26,308 442 288 234 402 - - Overdrafts 229 167 29 13 5 13 2 - Unsecured personal lines of credit 2,276 2,188 59 - - 29 - - Unsecured personal loans 268,968 263,427 2,693 1,752 1,083 13 - - Cash collateral personal loans 15,120 14,901 216 3 - - - - 314,267 306,991 3,439 2,056 1,322 457 2 - Auto and Leasing 807,204 732,627 45,914 20,458 6,181 2,006 18 - 1,820,761 1,586,727 51,235 36,384 13,051 17,931 28,391 87,042 Acquired loans (accounted for under ASC 310-20) Consumer Credit cards 27,574 26,206 676 203 181 308 - - Personal loans 2,659 2,469 133 10 5 42 - - 30,233 28,675 809 213 186 350 - - Auto 33,661 29,670 2,435 1,231 260 65 - - 63,894 58,345 3,244 1,444 446 415 - - Total $ 1,884,655 $ 1,645,072 $ 54,479 $ 37,828 $ 13,497 $ 18,346 $ 28,391 $ 87,042 December 31, 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 $ 50,285 $ 44,248 $ - $ 2,095 $ 368 $ 1,315 $ 1,552 $ 707 Years 2003 and 2004 90,707 78,501 - 3,712 1,767 2,675 2,100 1,952 Year 2005 50,009 43,177 - 1,952 561 1,024 2,181 1,114 Year 2006 69,300 57,271 82 2,397 353 2,210 3,410 3,577 Years 2007, 2008 and 2009 76,729 61,547 83 1,439 865 2,330 6,459 4,006 Years 2010, 2011, 2012 2013 139,860 127,375 60 1,451 1,459 1,667 3,584 4,264 Year 2014, 2015 and 2016 108,199 106,672 - 123 386 210 761 47 585,089 518,791 225 13,169 5,759 11,431 20,047 15,667 Non-traditional 22,859 17,631 - 498 366 1,263 3,101 - Loss mitigation program 103,528 17,814 2,304 1,681 388 1,599 3,759 75,983 711,476 554,236 2,529 15,348 6,513 14,293 26,907 91,650 Home equity secured personal loans 337 337 - - - - - - GNMA's buy-back option program 9,681 - - - 2,440 3,141 4,100 - 721,494 554,573 2,529 15,348 8,953 17,434 31,007 91,650 Consumer Credit cards 26,358 25,023 527 283 191 334 - - Overdrafts 207 174 16 12 1 4 - - Unsecured personal lines of credit 2,404 2,327 41 4 3 25 4 - Unsecured personal loans 246,272 241,227 2,474 1,489 1,074 8 - - Cash collateral personal loans 15,274 15,010 240 20 4 - - - 290,515 283,761 3,298 1,808 1,273 371 4 - Auto and Leasing 756,395 686,493 42,714 19,014 6,253 1,921 - - 1,768,404 1,524,827 48,541 36,170 16,479 19,726 31,011 91,650 Acquired loans (accounted for under ASC 310-20) Consumer Credit cards 30,093 28,281 736 369 227 480 - - Personal loans 2,769 2,587 48 14 21 99 - - 32,862 30,868 784 383 248 579 - - Auto 53,026 47,503 3,652 1,355 415 101 - - 85,888 78,371 4,436 1,738 663 680 - - Total $ 1,854,292 $ 1,603,198 $ 52,977 $ 37,908 $ 17,142 $ 20,406 $ 31,011 $ 91,650 |
Allowance for Loan and Lease 32
Allowance for Loan and Lease Losses (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Allowance for loan and lease losses [Abstract] | |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | The composition of the Company’s allowance for loan and lease losses at June 30 , 2017 and December 31 , 2016 was as follows : June 30, December 31, 2017 2016 (In thousands) Allowance for loans and lease losses: Originated and other loans and leases held for investment: Mortgage $ 18,664 $ 17,344 Commercial 17,279 8,995 Consumer 14,981 13,067 Auto and leasing 18,742 19,463 Unallocated - 431 Total allowance for originated and other loans and lease losses 69,666 59,300 Acquired BBVAPR loans: Accounted for under ASC 310-20 (Loans with revolving feature and/or acquired at a premium) Commercial 41 169 Consumer 2,623 3,028 Auto 684 1,103 3,348 4,300 Accounted for under ASC 310-30 (Loans acquired with deteriorated credit quality, including those by analogy) Mortgage 4,141 2,682 Commercial 25,614 23,452 Auto 7,739 4,922 37,494 31,056 Total allowance for acquired BBVAPR loans and lease losses 40,842 35,356 Acquired Eurobank loans: Loans secured by 1-4 family residential properties 13,651 11,947 Commercial 8,131 9,328 Consumer 5 6 Total allowance for acquired Eurobank loan and lease losses 21,787 21,281 Total allowance for loan and lease losses $ 132,295 $ 115,937 Allowance for Originated and Other Loan and Lease Losses Held for Investment The following tables presents the activity in our allowance for loan and lease losses and the related recorded investment of the originated and other loans held for invest ment portfolio by segment for the periods indicated: Quarter Ended June 30, 2017 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 $ 18,578 $ 9,888 $ 13,394 $ 18,621 $ 2 $ 60,483 Charge-offs (2,162) (4,841) (4,012) (7,775) - (18,790) Recoveries 63 136 780 4,176 - 5,155 Provision for originated and other loans and lease losses 2,185 12,096 4,819 3,720 (2) 22,818 Balance at end of period $ 18,664 $ 17,279 $ 14,981 $ 18,742 $ - $ 69,666 Six-Month Period Ended June 30, 2017 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 $ 17,344 $ 8,995 $ 13,067 $ 19,463 $ 431 $ 59,300 Charge-offs (4,541) (5,697) (7,368) (15,339) - (32,945) Recoveries 119 226 945 7,470 - 8,760 Provision for originated and other loans and lease losses 5,742 13,755 8,337 7,148 (431) 34,551 Balance at end of period $ 18,664 $ 17,279 $ 14,981 $ 18,742 $ - $ 69,666 June 30, 2017 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 $ 8,630 $ 1,940 $ - $ - $ - $ 10,570 Collectively evaluated for impairment 10,034 15,339 14,981 18,742 - 59,096 Total ending allowance balance $ 18,664 $ 17,279 $ 14,981 $ 18,742 $ - $ 69,666 Loans: Individually evaluated for impairment $ 87,042 $ 57,328 $ - $ - $ - $ 144,370 Collectively evaluated for impairment 612,248 1,213,516 314,267 807,204 - 2,947,235 Total ending loan balance $ 699,290 $ 1,270,844 $ 314,267 $ 807,204 $ - $ 3,091,605 Quarter Ended June 30, 2016 Mortgage Commercial Consumer Auto and Leasing Unallocated Total (In thousands) Allowance for loan and lease losses for originated and other loans: Balance at beginning of period $ 18,784 $ 64,206 $ 11,414 $ 18,716 $ 118 $ 113,238 Charge-offs (1,374) (833) (2,811) (8,100) - (13,118) Recoveries 36 228 133 3,243 - 3,640 Provision (recapture) for originated and other loan and lease losses 1,091 (457) 3,035 5,400 (17) 9,052 Balance at end of period $ 18,537 $ 63,144 $ 11,771 $ 19,259 $ 101 $ 112,812 Six-Month Period Ended June 30, 2016 Mortgage Commercial Consumer Auto and Leasing Unallocated Total (In thousands) Allowance for loan and lease losses for originated and other loans: Balance at beginning of period $ 18,352 $ 64,791 $ 11,197 $ 18,261 $ 25 $ 112,626 Charge-offs (3,036) (1,844) (5,138) (16,462) - (26,480) Recoveries 181 316 235 6,222 - 6,954 Provision (recapture) for originated and other loan and lease losses 3,040 (119) 5,477 11,238 76 19,712 Balance at end of period $ 18,537 $ 63,144 $ 11,771 $ 19,259 $ 101 $ 112,812 December 31, 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 $ 7,761 $ 1,626 $ - $ - $ - $ 9,387 Collectively evaluated for impairment 9,583 7,369 13,067 19,463 431 49,913 Total ending allowance balance $ 17,344 $ 8,995 $ 13,067 $ 19,463 $ 431 $ 59,300 Loans: Individually evaluated for impairment $ 91,650 $ 53,139 $ - $ - $ - $ 144,789 Collectively evaluated for impairment 629,844 1,224,727 290,515 756,395 - 2,901,481 Total ending loan balance $ 721,494 $ 1,277,866 $ 290,515 $ 756,395 $ - $ 3,046,270 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 accounted for under ASC 310-20, for the periods indicated Quarter Ended June 30, 2017 Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Balance at beginning of period $ 183 $ 2,591 $ 841 $ 3,615 Charge-offs (126) (771) (205) (1,102) Recoveries 2 295 597 894 Provision (recapture) for acquired BBVAPR loan and lease losses accounted for under ASC 310-20 (18) 508 (549) (59) Balance at end of period $ 41 $ 2,623 $ 684 $ 3,348 Six-Month Period Ended June 30, 2017 Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Balance at beginning of year $ 169 $ 3,028 $ 1,103 $ 4,300 Charge-offs (132) (1,656) (483) (2,271) Recoveries 3 359 1,049 1,411 Provision (recapture) for acquired BBVAPR loan and lease losses accounted for under ASC 310-20 1 892 (985) (92) Balance at end of year $ 41 $ 2,623 $ 684 $ 3,348 June 30, 2017 Commercial Consumer Auto 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 41 2,623 684 3,348 Total ending allowance balance $ 41 $ 2,623 $ 684 $ 3,348 Loans: Individually evaluated for impairment $ 761 $ - $ - $ 761 Collectively evaluated for impairment 4,589 30,233 33,661 68,483 Total ending loan balance $ 5,350 $ 30,233 $ 33,661 $ 69,244 Quarter Ended June 30, 2016 Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Balance at beginning of period $ 23 $ 3,243 $ 1,727 $ 4,993 Charge-offs (12) (1,013) (571) (1,596) Recoveries 8 88 446 542 Provision (recapture) for acquired loan and lease losses accounted for under ASC 310-20 2 684 (138) 548 Balance at end of period $ 21 $ 3,002 $ 1,464 $ 4,487 Six-Month Period Ended June 30, 2016 Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Balance at beginning of year $ 26 $ 3,429 $ 2,087 $ 5,542 Charge-offs (19) (1,825) (1,308) (3,152) Recoveries 40 169 1,044 1,253 Provision (recapture) for acquired loan and lease losses accounted for under ASC 310-20 (26) 1,229 (359) 844 Balance at end of period $ 21 $ 3,002 $ 1,464 $ 4,487 December 31, 2016 Commercial Consumer Auto 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: Individually evaluated for impairment $ 141 $ - $ - $ 141 Collectively evaluated for impairment 28 3,028 1,103 4,159 Total ending allowance balance $ 169 $ 3,028 $ 1,103 $ 4,300 Loans: Individually evaluated for impairment $ 1,150 $ - $ - $ 1,150 Collectively evaluated for impairment 4,412 32,862 53,026 90,300 Total ending loan balance $ 5,562 $ 32,862 $ 53,026 $ 91,450 The following tables present the activity in our allowance for loan losses and related recorded investment of the acquired BBVAPR loan portfolio accounted for under ASC 310-30 for the periods indicated : Quarter Ended June 30, 2017 Mortgage Commercial 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 $ 3,573 $ 23,528 $ 7,829 $ 34,930 Provision for BBVAPR loans and lease losses accounted for under ASC 310-30 630 2,735 - 3,365 Allowance de-recognition (62) (649) (90) (801) Balance at end of period $ 4,141 $ 25,614 $ 7,739 $ 37,494 Six-Month Period Ended June 30, 2017 Mortgage Commercial 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 $ 2,682 $ 23,452 $ 4,922 $ 31,056 Provision (recapture) for BBVAPR loans and lease losses accounted for under ASC 310-30 1,552 2,958 3,186 7,696 Allowance de-recognition (93) (796) (369) (1,258) Balance at end of period $ 4,141 $ 25,614 $ 7,739 $ 37,494 Quarter Ended June 30, 2016 Mortgage Commercial Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-30: Balance at beginning of period $ 1,762 $ 20,430 $ 5,555 $ 27,747 Provision (recapture) for acquired BBVAPR loans and lease losses accounted for under ASC 310-30 (163) 3,977 - 3,814 Loan pools fully charged-off (14) - (202) (216) Allowance de-recognition - (8,544) - (8,544) Balance at end of period $ 1,585 $ 15,863 $ 5,353 $ 22,801 Six-Month Period Ended June 30, 2016 Mortgage Commercial 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 acquired BBVAPR loans and lease losses accounted for under ASC 310-30 (79) 3,228 2,693 5,842 Loan pools fully charged-off (14) (66) (202) (282) Allowance de-recogntion - (8,544) - (8,544) Balance at end of period $ 1,585 $ 15,863 $ 5,353 $ 22,801 The changes in the allowance for loan and lease losses on acquired Eurobank loans for the quarters and six-month periods ended June 30 , 2017 and 2016 were as follows: Quarter Ended June 30, 2017 Loans Secured by 1-4 Family Residential Properties Commercial Consumer Total (In thousands) Allowance for loan and lease losses for acquired Eurobank loans: Balance at beginning of period $ 14,168 $ 7,833 $ 5 $ 22,006 Provision for (recapture) acquired Eurobank loans and lease losses, net 474 (62) - 412 Allowance de-recognition (991) 360 - (631) Balance at end of period $ 13,651 $ 8,131 $ 5 $ 21,787 Six-Month Period Ended June 30, 2017 Loans Secured by 1-4 Family Residential Properties Commercial Consumer Total (In thousands) Allowance for loan and lease losses for acquired Eurobank loans: Balance at beginning of period $ 11,947 $ 9,328 $ 6 $ 21,281 Provision for (recapture) acquired Eurobank loans and lease losses, net 2,872 $ (840) - 2,032 Allowance de-recognition (1,168) (357) (1) (1,526) Balance at end of period $ 13,651 $ 8,131 $ 5 $ 21,787 Quarter Ended June 30, 2016 Loans secured by 1-4 Family Residential Properties Commercial Consumer Total (In thousands) Allowance for loan and lease losses for acquired Eurobank loans: Balance at beginning of period $ 23,961 $ 68,089 $ 243 $ 92,293 Provision for (recapture) acquired Eurobank loan and lease losses, net 237 801 (7) 1,031 Loan pools fully charged-off 951 - - 951 Allowance de-recognition (14,133) (57,794) (232) (72,159) Balance at end of period $ 11,016 $ 11,096 $ 4 $ 22,116 Six-Month Period Ended June 30, 2016 Loans secured by 1-4 Family Residential Properties Commercial Consumer Total (In thousands) Allowance for loan and lease losses for Eurobank loans: Balance at beginning of period $ 22,570 $ 67,365 $ 243 $ 90,178 Provision for (recapture) acquired Eurobank loan and lease losses, net 184 1,659 (7) 1,836 FDIC shared-loss portion of provision for covered loan and lease losses, net 2,395 - - 2,395 Loan pools fully charged-off - (134) - (134) Allowance de-recognition (14,133) (57,794) (232) (72,159) Balance at end of period $ 11,016 $ 11,096 $ 4 $ 22,116 |
FDIC Indemnification and True-u
FDIC Indemnification and True-up Payment Obligation (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
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 tru e-up payment obligation for the quarters and six-month periods ended June 30 , 2017 and 2016 : Quarter Ended June 30, Six-Month Period Ended June 30, 2017 2016 2017 2016 (In thousands) FDIC indemnification asset: Balance at beginning of period $ - $ 20,923 $ 14,411 $ 22,599 Shared-loss agreements reimbursements from the FDIC - (332) - (737) Increase in expected credit losses to be covered under shared-loss agreements, net - 951 - 2,395 FDIC indemnification asset benefit (expense) - (1,405) 1,403 (4,269) Net expenses incurred under shared-loss agreements - (1,711) - (1,562) Shared-loss termination settlement - - (15,814) - Balance at end of period $ - $ 18,426 $ - $ 18,426 True-up payment obligation: Balance at beginning of period $ - $ 25,235 $ 26,786 $ 24,658 Change in true-up payment obligation - 537 - 1,114 Shared-loss termination settlement - - (26,786) - Balance at end of period $ - $ 25,772 $ - $ 25,772 |
FDIC Indemnification Asset Expense [Table Text block] | Quarter Ended June 30, Six-Month Period Ended June 30, 2017 2016 2017 2016 (In thousands) FDIC indemnification asset expense (benefit) $ - $ 1,405 $ (1,403) $ 4,269 Change in true-up payment obligation - 537 - 1,114 Reimbursement to FDIC for recoveries - 1,478 - 2,066 Total FDIC shared-loss expense (benefit), net $ - $ 3,420 $ (1,403) $ 7,449 |
Derivative Activities (Tables)
Derivative Activities (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Derivative Instrument Detail [Abstract] | |
Schedule Of Derivative Instruments Text Block | The following table presents the Company’s derivative assets and liabilities at June 30 , 2017 and December 31 , 2016 : June 30, December 31, 2017 2016 (In thousands) Derivative assets: Interest rate swaps not designated as hedges $ 893 $ 1,187 Interest rate caps 64 143 $ 957 $ 1,330 Derivative liabilities: Interest rate swaps designated as cash flow hedges 923 1,004 Interest rate swaps not designated as hedges 893 1,187 Interest rate caps 65 139 Other - 107 $ 1,881 $ 2,437 The following table shows a summary of these swaps and their terms at June 30 , 2017 : Notional Fixed Variable Trade Settlement Maturity Type Amount Rate Rate Index Date Date Date (In thousands) Interest Rate Swaps $ 35,856 2.4210% 1-Month LIBOR 07/03/13 07/03/13 08/01/23 $ 35,856 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 $ 12,500 Interest Rate Swaps - Mirror Image Derivatives $ 12,500 5.5050% 1-Month LIBOR 04/11/09 04/11/19 $ 12,500 |
Other Assets (Tables)
Other Assets (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Other asset | |
Schedule of Accrued interest receivable [Table Text Block] | June 30, December 31, 2017 2016 (In thousands) Loans, excluding acquired loans $ 16,835 $ 16,706 Investments 2,963 3,521 $ 19,798 $ 20,227 |
Schedule of Other Assets [Table Text Block] | Other assets at June 30 , 2017 and December 31 , 2016 consist of the following June 30, December 31, 2017 2016 (In thousands) Prepaid expenses $ 17,117 $ 17,096 Other repossessed assets 3,225 3,224 Core deposit and customer relationship intangibles 5,424 6,160 Mortgage tax credits 6,277 6,277 Investment in Statutory Trust 1,083 1,083 Accounts receivable and other assets 33,162 46,525 $ 66,288 $ 80,365 |
Deposits and Related Interest (
Deposits and Related Interest (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Deposits, by Component, Alternative [Abstract] | |
Deposits By Component [Table Text Block] | June 30, December 31, 2017 2016 (In thousands) Non-interest bearing demand deposits $ 845,375 $ 848,502 Interest-bearing savings and demand deposits 2,115,290 2,219,452 Individual retirement accounts 238,345 265,754 Retail certificates of deposit 607,910 563,965 Institutional certificates of deposit 206,855 190,419 Total core deposits 4,013,775 4,088,092 Brokered deposits 568,911 576,395 Total deposits $ 4,582,686 $ 4,664,487 |
Interest Expense Domestic Deposit Liabilities [Table Text Block] | Quarter Ended June 30, Six-Month Period Ended June 30, 2017 2016 2017 2016 (In thousands) Demand and savings deposits $ 2,939 $ 3,184 $ 5,848 $ 6,026 Certificates of deposit 4,713 4,183 9,157 8,465 $ 7,652 $ 7,367 $ 15,005 $ 14,491 |
Maturities Of Time Deposits [Table Text Block] | June 30, 2017 December 31, 2016 (In thousands) Within one year: Three (3) months or less $ 262,406 $ 277,621 Over 3 months through 1 year 590,861 534,548 853,267 812,169 Over 1 through 2 years 444,176 488,440 Over 2 through 3 years 195,287 154,545 Over 3 through 4 years 38,872 29,701 Over 4 through 5 years 35,145 41,949 $ 1,566,747 $ 1,526,804 |
Borrowings (Tables)
Borrowings (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Debt Instruments [Abstract] | |
Schedule Of Repurchase Agreement Counterparty [Table Text Block] | June 30, December 31, 2017 2016 Fair Value of Fair Value of Borrowing Underlying Borrowing Underlying Balance Collateral Balance Collateral (In thousands) Nomura $ 37,001 $ 38,900 $ - $ - PR Cash and Money Market Fund - - 70,010 74,538 JP Morgan Chase Bank NA 239,781 257,976 350,219 376,674 Federal Home Loan Bank 110,000 115,881 - - Credit Suisse Securities (USA) LLC - - 232,000 249,286 Goldman SachsCredit Suisse Securities (USA) LLC 66,068 70,653 - - Total $ 452,850 $ 483,410 $ 652,229 $ 700,498 |
Schedule of Repurchase Agreement by Maturity [Table text Block] | Weighted- Borrowing Average Maturity Year of Maturity Balance Coupon Settlement Date Date (In thousands) 2017 $ 37,001 1.65% 6/27/2017 7/3/2017 57,281 1.55% 6/28/2017 7/5/2017 66,068 1.50% 6/28/2017 7/7/2017 2018 182,500 1.42% 12/10/2012 4/29/2018 2019 50,000 1.72% 3/2/2017 9/3/2019 2020 60,000 1.85% 3/2/2017 3/2/2020 $ 452,850 1.56% |
Schedule of Repurchase Agreements [Table] | June 30, 2017 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 $ 160,350 1.57% $ 170,851 $ - $ - $ 170,851 Over 90 days 292,500 1.56% 312,467 92 - 312,559 Total $ 452,850 1.56% $ 483,318 $ 92 $ - $ 483,410 December 31, 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 $ 349,729 $ 3.35% 248,288 $ 75,536 $ 48,954 $ 372,778 Over 90 days 302,500 1.44% 327,627 93 - 327,720 Total $ 652,229 2.47% $ 575,915 $ 75,629 48,954 700,498 |
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 $ 30 8 thousand, at June 30 , 2017 Weighted- Borrowing Average Maturity Year of Maturity Balance Coupon Settlement Date Date (In thousands) 2017 $ 35,856 1.20% 6/1/2017 7/3/2017 37,000 1.24% 6/30/2017 7/3/2017 72,856 2018 30,000 2.19% 1/16/2013 1/16/2018 25,000 2.18% 1/16/2013 1/16/2018 55,000 2020 9,376 2.59% 7/19/2013 7/20/2020 $ 137,232 1.70% |
Offset of Assets_Liabilities (T
Offset of Assets/Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Offsetting [Abstract] | |
Offsetting Assets [Table Text Block] | June 30, 2017 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 $ 957 $ - $ 957 $ 2,027 $ - $ (1,070) December 31, 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 $ 1,330 $ - $ 1,330 $ 2,003 $ - $ (673) |
Offsetting Liabilities [Table Text Block] | June 30, 2017 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 $ 1,881 $ - $ 1,881 $ - $ 1,980 $ (99) Securities sold under agreements to repurchase 452,850 - 452,850 483,410 - (30,560) Total $ 454,731 $ - $ 454,731 $ 483,410 $ 1,980 $ (30,659) December 31, 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 $ 2,437 $ - $ 2,437 $ - $ 1,980 $ 457 Securities sold under agreements to repurchase 652,229 - 652,229 700,498 - (48,269) Total $ 654,666 $ - $ 654,666 $ 700,498 $ 1,980 $ (47,812) |
Regulatory Capital Requiremen39
Regulatory Capital Requirements (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
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 amounts and ratios as of June 30 , 2017 and December 31 , 2016 are as follows: Minimum Capital Minimum to be Well Actual Requirement Capitalized Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Company Ratios As of June 30, 2017 Total capital to risk-weighted assets $ 896,927 20.42% $ 351,306 8.00% $ 439,132 10.00% Tier 1 capital to risk-weighted assets $ 840,704 19.14% $ 263,479 6.00% $ 351,306 8.00% Common equity tier 1 capital to risk-weighted assets $ 643,607 14.66% $ 197,609 4.50% $ 285,436 6.50% Tier 1 capital to average total assets $ 840,704 13.69% $ 245,577 4.00% $ 306,971 5.00% As of December 31, 2016 Total capital to risk-weighted assets $ 876,657 19.62% $ 357,404 8.00% $ 446,756 10.00% Tier 1 capital to risk-weighted assets $ 819,662 18.35% $ 268,053 6.00% $ 357,404 8.00% Common equity tier 1 capital to risk-weighted assets $ 627,733 14.05% $ 201,040 4.50% $ 290,391 6.50% Tier 1 capital to average total assets $ 819,662 12.99% $ 252,344 4.00% $ 315,430 5.00% Minimum Capital Minimum to be Well Actual Requirement Capitalized Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Bank Ratios As of June 30, 2017 Total capital to risk-weighted assets $ 887,024 20.20% $ 351,244 8.00% $ 439,055 10.00% Tier 1 capital to risk-weighted assets $ 831,012 18.93% $ 263,433 6.00% $ 351,244 8.00% Common equity tier 1 capital to risk-weighted assets $ 831,012 18.93% $ 197,575 4.50% $ 285,386 6.50% Tier 1 capital to average total assets $ 831,012 13.59% $ 244,618 4.00% $ 305,773 5.00% As of December 31, 2016 Total capital to risk-weighted assets $ 857,259 19.23% $ 356,596 8.00% $ 445,745 10.00% Tier 1 capital to risk-weighted assets $ 800,544 17.96% $ 267,447 6.00% $ 356,596 8.00% Common equity tier 1 capital to risk-weighted assets $ 800,544 17.96% $ 200,585 4.50% $ 289,734 6.50% Tier 1 capital to average total assets $ 800,544 12.75% $ 251,200 4.00% $ 314,000 5.00% |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Stockholders' Equity [Abstract] | |
Schedule of Treasury Stock by Class [Table Text Block] | The activity in connection with common shares held in treasury by the Company for the six-month periods ended June 30 , 2017 and 2016 is set forth below Six-Month Period Ended June 30, 2017 2016 Dollar Dollar Shares Amount Shares Amount (In thousands, except shares data) Beginning of period 8,711,025 $ 104,860 8,757,960 $ 105,379 Common shares used upon lapse of restricted stock units (32,598) (358) (45,810) (505) End of period 8,678,427 $ 104,502 8,712,150 $ 104,874 |
Accumulated Other Comprehensi41
Accumulated Other Comprehensive Income (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Disclosure Text Block Abstract | |
Schedule of Accumulated Other Comprehensive Income (Loss) | Accumulated other comprehensive income, net of income taxes, as of June 30 , 2017 and December 31 , 2016 consisted of: June 30, December 31, 2017 2016 (In thousands) Unrealized gain on securities available-for-sale which are not other-than-temporarily impaired $ 47 $ 1,617 Income tax effect of unrealized gain on securities available-for-sale 209 592 Net unrealized gain on securities available-for-sale which are not other-than-temporarily impaired 256 2,209 Unrealized loss on cash flow hedges (923) (1,004) Income tax effect of unrealized loss on cash flow hedges 360 391 Net unrealized loss on cash flow hedges (563) (613) Accumulated other comprehensive (loss) income, net of income taxes $ (307) $ 1,596 The following table presents changes in accumulated other comprehensive income by component, net of taxes, for the quarters and six-month periods ended June 30 , 2017 and 2016 : Quarter Ended June 30, 2017 2016 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 (loss) income available-for-sale hedges income (In thousands) Beginning balance $ 3,850 $ (502) $ 3,348 $ 15,089 $ (2,805) $ 12,284 Other comprehensive loss before reclassifications (3,618) (189) (3,807) 3,060 (949) 2,111 Amounts reclassified out of accumulated other comprehensive income (loss) 24 128 152 (64) 1,474 1,410 Other comprehensive income (loss) (3,594) (61) (3,655) 2,996 525 3,521 Ending balance $ 256 $ (563) $ (307) $ 18,085 $ (2,280) $ 15,805 Six-Month Period Ended June 30, 2017 2016 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 (loss) income available-for-sale hedges income (In thousands) Beginning balance $ 2,209 (613) 1,596 16,924 (2,927) 13,997 Other comprehensive income (loss) before reclassifications (1,911) (227) (2,138) (1,266) (2,406) (3,672) Amounts reclassified out of accumulated other comprehensive income (loss) (42) 277 235 2,427 3,053 5,480 Other comprehensive income (loss) (1,953) 50 (1,903) 1,161 647 1,808 Ending balance $ 256 $ (563) $ (307) $ 18,085 $ (2,280) $ 15,805 |
Reclassification out of Accumulated Other Comprehensive Income [Table text block] | The following table presents reclassifications out of accumulated other comprehensive income for the quarters and six-month periods ended June 30 , 2017 and 2016 : Amount reclassified out of accumulated other comprehensive (loss) income Affected Line Item in Quarter Ended June 30, Consolidated Statement 2017 2016 of Operations (In thousands) Cash flow hedges: Interest-rate contracts $ 128 $ 1,354 Net interest expense Tax effect from increase in capital gains tax rate - 120 Income tax expense Available-for-sale securities: Residual tax effect from OIB's change in applicable tax rate 95 8 Income tax expense Tax effect from increase in capital gains tax rate (71) (72) Income tax expense $ 152 $ 1,410 Amount reclassified out of accumulated other comprehensive (loss) income Affected Line Item in Six-Month Period Ended June 30, Consolidated Statement 2017 2016 of Operations (In thousands) Cash flow hedges: Interest-rate contracts $ 277 $ 2,804 Net interest expense Tax effect from increase in capital gains tax rate - 249 Income tax expense Available-for-sale securities: Other-than-temporary impairment losses on investment securities - 2,557 Net impairment losses recognized in earnings Residual tax effect from OIB's change in applicable tax rate 103 16 Income tax expense Tax effect from increase in capital gains tax rate (145) (146) Income tax expense $ 235 $ 5,480 |
Earning Per Common Share (Table
Earning Per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | The calculation of earnings per common share for the quarters and six-month periods ended June 30 , 2017 and 2016 is as follows: Quarter Ended June 30, Six-Month Period Ended June 30, 2017 2016 2017 2016 (In thousands, except per share data) Net income $ 17,104 $ 14,339 $ 32,254 $ 28,510 Less: Dividends on preferred stock Non-convertible preferred stock (Series A, B, and D) (1,629) (1,629) (3,256) (3,256) Convertible preferred stock (Series C) (1,837) (1,837) (3,675) (3,675) Income available to common shareholders $ 13,638 $ 10,873 $ 25,323 $ 21,579 Effect of assumed conversion of the convertible ' ' preferred stock 1,837 1,837 3,675 3,675 Income available to common shareholders assuming conversion $ 15,475 $ 12,710 $ 28,998 $ 25,254 Weighted average common shares and share equivalents: Average common shares outstanding 43,947 43,914 43,931 43,906 Effect of dilutive securities: Average potential common shares-options 15 43 24 37 Average potential common shares-assuming ' ' conversion of convertible preferred stock 7,138 7,138 7,138 7,138 Total weighted average common shares ' ' outstanding and equivalents 51,100 51,095 51,093 51,081 Earnings per common share - basic $ 0.30 $ 0.25 $ 0.58 $ 0.49 Earnings per common share - diluted $ 0.30 $ 0.25 $ 0.57 $ 0.49 |
Guarantees (Tables)
Guarantees (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
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 consolidated statements of financial condition during the quarters and six-month periods ended June 30 , 2017 and 2016 . Quarter Ended June 30, Six-Month Period Ended June 30, 2017 2016 2017 2016 (In thousands) Balance at beginning of period $ 570 $ 181 $ 710 $ 439 Net (charge-offs/terminations) recoveries (111) (19) (251) (277) Balance at end of period $ 459 $ 162 $ 459 $ 162 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Commitments and Contingencies [Abstract] | |
Schedule Of Line Of Credit Facilities Text Block | Cre dit-related financial instruments at June 30 , 2017 and December 31 , 2016 were as follows: June 30, December 31, 2017 2016 (In thousands) Commitments to extend credit $ 434,051 $ 492,885 Commercial letters of credit 1,501 2,721 The summary of instruments that are considered financial guarantees in accordance with the authoritative guidance related to guarantor’s accounti ng and disclosure requirements for guarantees, including indirect guarantees of indebtedness of others, at June 30 , 2017 and December 31 , 2016 , is as follows: June 30, December 31, 2017 2016 (In thousands) Standby letters of credit and financial guarantees $ 13,420 $ 4,041 Loans sold with recourse 6,640 20,126 |
Contractual Obligation Fiscal Year Maturity Schedule [Table Text Block] | Minimum Rent Year Ending December 31, (In thousands) 2017 $ 3,665 2018 6,969 2019 6,928 2020 6,201 2021 5,371 Thereafter 7,881 $ 37,015 |
Fair Value (Tables)
Fair Value (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis 1 [Table Text Block] | Assets and liabilities measured at fair value on a recurring and non-recurring basis are summarized below: June 30, 2017 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ - $ 649,327 $ - $ 649,327 Trading securities - 294 - 294 Money market investments 6,467 - - 6,467 Derivative assets - 957 - 957 Servicing assets - - 9,866 9,866 Derivative liabilities - (1,881) - (1,881) $ 6,467 $ 648,697 $ 9,866 $ 665,030 Non-recurring fair value measurements: Impaired commercial loans $ - $ - $ 58,089 $ 58,089 Foreclosed real estate - - 50,223 50,223 Other repossessed assets - - 3,225 3,225 $ - $ - $ 111,537 $ 111,537 December 31, 2016 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ - $ 751,484 $ - $ 751,484 Trading securities - 347 - 347 Money market investments 5,606 - - 5,606 Derivative assets - 1,330 - 1,330 Servicing assets - - 9,858 9,858 Derivative liabilities - (2,437) - (2,437) $ 5,606 $ 750,724 $ 9,858 $ 766,188 Non-recurring fair value measurements: Impaired commercial loans $ - $ - $ 54,289 $ 54,289 Foreclosed real estate - - 47,520 47,520 Other repossessed assets - - 3,224 3,224 $ - $ - $ 105,033 $ 105,033 The table below presents a reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the quarters and six-month period s ended June 30 , 2017 and 2016 : Quarter Ended June 30, 2017 Derivative Derivative asset liability (S&P (S&P Purchased Servicing Embedded Level 3 Instruments Only Options) assets Options) Total (In thousands) Balance at beginning of period $ - $ 9,688 $ - $ 9,688 New instruments acquired - 540 - 540 Principal repayments - (164) - (164) Changes in fair value of servicing assets - (198) - (198) Balance at end of period $ - $ 9,866 $ - $ 9,866 Six-Month Period Ended June 30, 2017 Derivative Derivative asset liability (S&P (S&P Purchased Servicing Embedded Level 3 Instruments Only Options) assets Options) Total (In thousands) Balance at beginning of period $ - $ 9,858 $ - $ 9,858 New instruments acquired - 1,074 - 1,074 Principal repayments - (326) - (326) Changes in fair value of servicing assets - (740) - (740) Balance at end of period $ - $ 9,866 $ - $ 9,866 Quarter Ended June 30, 2016 Derivative Derivative asset liability (S&P (S&P Purchased Servicing Embedded Level 3 Instruments Only Options) assets Options) Total (In thousands) Balance at beginning of period $ 772 $ 7,819 $ (746) $ 7,845 Gains (losses) included in earnings (585) - 557 (28) New instruments acquired - 717 - 717 Principal repayments - (121) - (121) Amortization - - 8 8 Changes in fair value of servicing assets - (483) - (483) Balance at end of period $ 187 $ 7,932 $ (181) $ 7,938 Six-Month Period Ended June 30, 2016 Derivative Derivative asset liability (S&P (S&P Purchased Servicing Embedded Level 3 Instruments Only Options) assets Options) Total (In thousands) Balance at beginning of period $ 1,171 $ 7,455 $ (1,095) $ 7,531 Gains (losses) included in earnings (984) - 886 (98) New instruments acquired - 1,275 - 1,275 Principal repayments - (225) - (225) Amortization - - 28 28 Changes in fair value of servicing assets - (573) - (573) Balance at end of period $ 187 $ 7,932 $ (181) $ 7,938 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Table Text Block] | The table below presents quantitative information for all assets and liabilities measured at fair value on a recurring and non-recurring basis using significant unobservable inputs (Level 3) at June 30, 2017 Fair Value Valuation Technique Unobservable Input Range (In thousands) Servicing assets $ 9,866 Cash flow valuation Constant prepayment rate 4.18% - 9.07% Discount rate 10.00% - 12.00% Collateral dependant impaired loans $ 25,242 Fair value of property or collateral Appraised value less disposition costs 22.20% - 36.20% Other non-collateral dependant impaired loans $ 32,847 Cash flow valuation Discount rate 4.15% - 10.50% Foreclosed real estate $ 50,223 Fair value of property or collateral Appraised value less disposition costs 22.20% - 36.20% Other repossessed assets $ 3,225 Fair value of property or collateral Estimated net realizable value less disposition costs 32.00% - 68.00% |
Fair Value By Balance Sheet Grouping [Text Block] | The estimated fair value and carrying value of the Company’s financial instruments at June 30 , 2017 and December 31 , 2016 is as follows: June 30, December 31, 2017 2016 Fair Carrying Fair Carrying Value Value Value Value (In thousands) Level 1 Financial Assets: Cash and cash equivalents $ 477,308 $ 477,308 $ 510,439 $ 510,439 Restricted cash $ 3,030 $ 3,030 $ 3,030 $ 3,030 Level 2 Financial Assets: Trading securities $ 294 $ 294 $ 347 $ 347 Investment securities available-for-sale $ 649,327 $ 649,327 $ 751,484 $ 751,484 Investment securities held-to-maturity $ 549,595 $ 555,407 $ 592,763 $ 599,884 Federal Home Loan Bank (FHLB) stock $ 16,616 $ 16,616 $ 10,793 $ 10,793 Other investments $ 3 $ 3 $ 3 $ 3 Derivative assets $ 957 $ 957 $ 1,330 $ 1,330 Financial Liabilities: Derivative liabilities $ 1,881 $ 1,881 $ 2,437 $ 2,437 Level 3 Financial Assets: Total loans (including loans held-for-sale) $ 3,955,910 $ 4,091,866 $ 3,917,340 $ 4,147,692 FDIC indemnification asset $ - $ - $ 8,669 $ 14,411 Accrued interest receivable $ 19,798 $ 19,798 $ 20,227 $ 20,227 Servicing assets $ 9,866 $ 9,866 $ 9,858 $ 9,858 Accounts receivable and other assets $ 33,162 $ 33,162 $ 46,525 $ 46,525 Financial Liabilities: Deposits $ 4,560,586 $ 4,582,686 $ 4,644,629 $ 4,664,487 Securities sold under agreements to repurchase $ 451,933 $ 453,492 $ 651,898 $ 653,756 Advances from FHLB $ 138,002 $ 137,540 $ 106,422 $ 105,454 Other borrowings $ 177 $ 177 $ 61 $ 61 Subordinated capital notes $ 31,743 $ 36,083 $ 30,230 $ 36,083 Accrued expenses and other liabilities $ 62,259 $ 62,259 $ 95,370 $ 95,370 |
Business Segments (Tables)
Business Segments (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Following are the results of operations and the selected financial information by operating segment for the quarters and six-month periods ended June 30 , 2017 and 2016 : Quarter Ended June 30, 2017 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 77,019 $ 18 $ 8,903 $ 85,940 $ - $ 85,940 Interest expense (6,820) - (3,557) (10,377) - (10,377) Net interest income 70,199 18 5,346 75,563 - 75,563 Provision for loan and lease losses (26,526) - (10) (26,536) - (26,536) Non-interest income 11,776 6,329 6,781 24,886 - 24,886 Non-interest expenses (47,402) (4,100) (1,314) (52,816) - (52,816) Intersegment revenue 346 - 71 417 (417) - Intersegment expenses (71) (254) (92) (417) 417 - Income before income taxes $ 8,322 $ 1,993 $ 10,782 $ 21,097 $ - $ 21,097 Total assets $ 5,490,287 $ 22,531 $ 1,692,603 $ 7,205,421 (969,595) $ 6,235,826 Quarter Ended June 30, 2016 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 79,675 $ 16 $ 8,217 $ 87,908 $ - $ 87,908 Interest expense (7,300) - (7,296) (14,596) - (14,596) Net interest income 72,375 16 921 73,312 - 73,312 Provision for loan and lease losses (14,445) - - (14,445) - (14,445) Non-interest income 8,214 6,910 31 15,155 - 15,155 Non-interest expenses (47,097) (4,908) (1,820) (53,825) - (53,825) Intersegment revenue 389 - 49 438 (438) - Intersegment expenses (49) (286) (103) (438) 438 - Income before income taxes $ 19,387 $ 1,732 $ (922) $ 20,197 $ - $ 20,197 Total assets $ 5,829,987 $ 19,054 $ 1,800,838 $ 7,649,879 (937,283) $ 6,712,596 Six-Month Period Ended June 30, 2017 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 154,592 $ 30 $ 17,496 $ 172,118 $ - $ 172,118 Interest expense (13,634) - (8,303) (21,937) - (21,937) Net interest income 140,958 30 9,193 150,181 - 150,181 Provision for loan and lease losses, net (44,168) - (22) (44,190) - (44,190) Non-interest income, net 25,003 12,257 6,700 43,960 - 43,960 Non-interest expenses (93,456) (8,320) (2,724) (104,500) - (104,500) Intersegment revenue 810 - 142 952 (952) - Intersegment expenses (142) (565) (245) (952) 952 - Income before income taxes $ 29,005 $ 3,402 $ 13,044 $ 45,451 $ - $ 45,451 Total assets $ 5,490,287 $ 22,531 $ 1,692,603 $ 7,205,421 $ (969,595) $ 6,235,826 Six-Month Period Ended June 30, 2016 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 160,827 $ 34 $ 18,353 $ 179,214 $ - $ 179,214 Interest expense (14,107) - (16,820) (30,927) - (30,927) Net interest income 146,720 34 1,533 148,287 - 148,287 Provision for loan and lease losses, net (28,234) - - (28,234) - (28,234) Non-interest income, net 16,009 12,930 (281) 28,658 - 28,658 Non-interest expenses (97,786) (7,853) (3,043) (108,682) - (108,682) Intersegment revenue 787 - 149 936 (936) - Intersegment expenses (149) (577) (210) (936) 936 - Income (loss) before income taxes $ 37,347 $ 4,534 $ (1,852) $ 40,029 $ - $ 40,029 Total assets $ 5,829,987 $ 19,054 $ 1,800,838 $ 7,649,879 $ (937,283) $ 6,712,596 |
Restricted Cash (Narrative) (De
Restricted Cash (Narrative) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Restricted Cash And Cash Equivalents Items Line Items | ||
Certificates Of Deposits Oriental International Banking | $ 300 | $ 300 |
Treasury Bill, Oriental Overseas Unit | 325 | |
Reserve required by local Goverment | 163,200 | 161,000 |
Deposit pledged as collateral | 3,030 | 3,030 |
Derivative | ||
Restricted Cash And Cash Equivalents Items Line Items | ||
Deposit pledged as collateral | 1,980 | 1,980 |
Residential Loans Sold with Recourse [Member] | ||
Restricted Cash And Cash Equivalents Items Line Items | ||
Deposit pledged as collateral | $ 1,050 | $ 1,050 |
Restricted Cash (Composition) (
Restricted Cash (Composition) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Restricted Cash And Cash Equivalents Items Line Items | ||
Deposit pledged as collateral | $ 3,030 | $ 3,030 |
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 | $ 1,050 |
Investment Securities (Narrativ
Investment Securities (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | |
Investments, Debt and Equity Securities [Abstract] | ||||||
Investments Guaranteed by US Treasury and Sponsored Agencies in Unrealized Loss on Position | $ 777,800 | $ 777,800 | ||||
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 | 99.40% | 99.40% | ||||
Investments Guaranteed By Puerto Rico Government and Its Political Subdivisions in Unrealized Loss Position Percentage To Total Investment in Unrealized Loss Position | 0.60% | 0.60% | ||||
Maximum GovernmentBond Probability Of Default | 6.40% | 6.40% | ||||
Money market investments | $ 6,467 | $ 6,467 | $ 5,606 | |||
Securitized GNMA pools retained, amortized cost | $ 49,800 | $ 54,200 | $ 49,800 | $ 54,200 | ||
Securitized GNMA pool retained, yield | 3.15% | 3.01% | 3.15% | 3.01% | ||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Available-for-sale securities sold , Book Value | $ 205,312 | $ 288,276 | ||||
Gain (Loss) on Sale of Securities, Net | $ 6,891 | $ 211 | 6,891 | 12,207 | ||
Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held | 0 | $ 0 | 0 | 0 | $ 0 | $ 1,490 |
Investments Guaranteed By Local Government And Its Political Subdivisions In Unrealized Loss On Position with Cumulative Default Probability Fair Value | 4,300 | 4,300 | ||||
Government Investment with Default Probability Payment Received | $ 2,200 | 2,200 | ||||
Collateralized Mortgage Backed Securities [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Available-for-sale securities sold , Book Value | 166,015 | 277,181 | ||||
Collateralized Mortgage Backed Securities [Member] | FNMA and FHLMC [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Available-for-sale securities sold , Book Value | 102,311 | 277,181 | ||||
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 sold , Book Value | 63,704 | |||||
Collateralized Mortgage Backed Securities [Member] | Obligations of Puerto Rico Government and Public Instrumentalities | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Available-for-sale securities sold , Book Value | $ 11,095 | |||||
US Treasury Securities | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Available-for-sale securities sold , Book Value | $ 39,297 |
Investment Securities (Investme
Investment Securities (Investment securities) (Details) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 649,280,000 | $ 749,867,000 |
Available-for-sale Securities, Gross Unrealized Gains | 3,819,000 | 8,740,000 |
Available-for-sale Securities, Gross Unrealized Losses | 3,772,000 | 7,123,000 |
Available-for-sale Securities | $ 649,327,000 | $ 751,484,000 |
Available for sale - Weighted Average Yield | 2.33% | 2.53% |
Held-to-maturity, Amortized cost | $ 555,407,000 | $ 599,884,000 |
Held to maturity Securities Unrecognized Gains | 212,000 | 145,000 |
Held-to-maturity Securities, Unrecognized Loss | 6,024,000 | 7,266,000 |
Held to maturity Fair Value | $ 549,595,000 | $ 592,763,000 |
Held to maturity - Weighted Average Yield | 2.11% | 2.15% |
Total Securities - Amortized Cost | $ 1,204,687,000 | $ 1,349,751,000 |
Total Securities Gross Unrealized Gains | 4,031,000 | 8,885,000 |
Total Securities Gross Unrealized Losses | 9,796,000 | 14,389,000 |
Total Securities Fair Value | $ 1,198,922,000 | $ 1,344,247,000 |
Marketable Securities Weighted Average Yield | 2.23% | 2.36% |
Collateralized Mortgage Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 584,548,000 | $ 689,772,000 |
Available-for-sale Securities, Gross Unrealized Gains | 3,745,000 | 8,659,000 |
Available-for-sale Securities, Gross Unrealized Losses | 3,362,000 | 5,879,000 |
Available-for-sale Securities | $ 584,931,000 | $ 692,552,000 |
Available for sale - Weighted Average Yield | 2.42% | 2.57% |
Held-to-maturity, Amortized cost | $ 555,407,000 | $ 599,884,000 |
Held to maturity Securities Unrecognized Gains | 212,000 | 145,000 |
Held-to-maturity Securities, Unrecognized Loss | 6,024,000 | 7,266,000 |
Held to maturity Fair Value | $ 549,595,000 | $ 592,763,000 |
Held to maturity - Weighted Average Yield | 2.11% | 2.15% |
Collateralized Mortgage Backed Securities [Member] | FNMA and FHLMC [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 346,388,000 | $ 422,168,000 |
Available-for-sale Securities, Gross Unrealized Gains | 2,102,000 | 6,354,000 |
Available-for-sale Securities, Gross Unrealized Losses | 1,797,000 | 3,036,000 |
Available-for-sale Securities | $ 346,693,000 | $ 425,486,000 |
Available for sale - Weighted Average Yield | 2.35% | 2.59% |
Held-to-maturity, Amortized cost | $ 555,407,000 | $ 599,884,000 |
Held to maturity Securities Unrecognized Gains | 212,000 | 145,000 |
Held-to-maturity Securities, Unrecognized Loss | 6,024,000 | 7,266,000 |
Held to maturity Fair Value | $ 549,595,000 | $ 592,763,000 |
Held to maturity - Weighted Average Yield | 2.11% | 2.15% |
Collateralized Mortgage Backed Securities [Member] | GNMA [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 145,538,000 | $ 163,614,000 |
Available-for-sale Securities, Gross Unrealized Gains | 1,633,000 | 2,241,000 |
Available-for-sale Securities, Gross Unrealized Losses | 487,000 | 620,000 |
Available-for-sale Securities | $ 146,684,000 | $ 165,235,000 |
Available for sale - Weighted Average Yield | 2.93% | 2.95% |
Held-to-maturity, Amortized cost | $ 0 | |
Held to maturity Fair Value | 0 | |
Collateralized Mortgage Backed Securities [Member] | CMO's [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 92,622,000 | $ 103,990,000 |
Available-for-sale Securities, Gross Unrealized Gains | 10,000 | 64,000 |
Available-for-sale Securities, Gross Unrealized Losses | 1,078,000 | 2,223,000 |
Available-for-sale Securities | $ 91,554,000 | $ 101,831,000 |
Available for sale - Weighted Average Yield | 1.89% | 1.88% |
Held-to-maturity, Amortized cost | $ 0 | |
Held to maturity Fair Value | 0 | |
Securities Investment [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 64,732,000 | $ 60,095,000 |
Available-for-sale Securities, Gross Unrealized Gains | 74,000 | 81,000 |
Available-for-sale Securities, Gross Unrealized Losses | 410,000 | 1,244,000 |
Available-for-sale Securities | $ 64,396,000 | $ 58,932,000 |
Available for sale - Weighted Average Yield | 1.51% | 2.04% |
Securities Investment [Member] | US Treasury Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 55,031,000 | $ 49,672,000 |
Available-for-sale Securities, Gross Unrealized Gains | 3,000 | 0 |
Available-for-sale Securities, Gross Unrealized Losses | 44,000 | 618,000 |
Available-for-sale Securities | $ 54,990,000 | $ 49,054,000 |
Available for sale - Weighted Average Yield | 1.13% | 1.73% |
Held-to-maturity, Amortized cost | $ 0 | |
Held to maturity Fair Value | 0 | |
Securities Investment [Member] | Obligation of US Government sponsored agencies at loss [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 3,353,000 | $ 3,903,000 |
Available-for-sale Securities, Gross Unrealized Gains | 0 | 0 |
Available-for-sale Securities, Gross Unrealized Losses | 27,000 | 19,000 |
Available-for-sale Securities | $ 3,326,000 | $ 3,884,000 |
Available for sale - Weighted Average Yield | 1.38% | 1.38% |
Held-to-maturity, Amortized cost | $ 0 | |
Held to maturity Fair Value | 0 | |
Securities Investment [Member] | Obligation of Puerto Rico Government and political subdivisions [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 4,680,000 | $ 4,680,000 |
Available-for-sale Securities, Gross Unrealized Gains | 0 | 0 |
Available-for-sale Securities, Gross Unrealized Losses | 339,000 | 607,000 |
Available-for-sale Securities | $ 4,341,000 | $ 4,073,000 |
Available for sale - Weighted Average Yield | 5.55% | 5.55% |
Held-to-maturity, Amortized cost | $ 0 | |
Held to maturity Fair Value | 0 | |
Securities Investment [Member] | Other Debt Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 1,668,000 | $ 1,840,000 |
Available-for-sale Securities, Gross Unrealized Gains | 71,000 | 81,000 |
Available-for-sale Securities, Gross Unrealized Losses | 0 | 0 |
Available-for-sale Securities | $ 1,739,000 | $ 1,921,000 |
Available for sale - Weighted Average Yield | 3.00% | 3.00% |
Held-to-maturity, Amortized cost | $ 0 | |
Held to maturity Fair Value | $ 0 |
Investment Securities (Invest51
Investment Securities (Investment securities by contractual maturity) (Details) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 649,280,000 | $ 749,867,000 |
Available-for-sale Securities | 649,327,000 | 751,484,000 |
Held-to-maturity, Amortized cost | 555,407,000 | 599,884,000 |
Held to maturity Fair Value | 549,595,000 | 592,763,000 |
Maturities Due From One To Five Years [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 26,074,000 | |
Available-for-sale Securities | 25,747,000 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Maturities Due From Five To Ten Years [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 141,882,000 | |
Available-for-sale Securities | 141,189,000 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Maturities Due After Ten Years [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 436,232,000 | |
Available-for-sale Securities | 437,296,000 | |
Held-to-maturity, Amortized cost | 555,407,000 | |
Held to maturity Fair Value | 549,595,000 | |
Collateralized Mortgage Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 584,548,000 | 689,772,000 |
Available-for-sale Securities | 584,931,000 | 692,552,000 |
Held-to-maturity, Amortized cost | 555,407,000 | 599,884,000 |
Held to maturity Fair Value | 549,595,000 | 592,763,000 |
Collateralized Mortgage Backed Securities [Member] | FNMA and FHLMC [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 346,388,000 | 422,168,000 |
Available-for-sale Securities | 346,693,000 | 425,486,000 |
Held-to-maturity, Amortized cost | 555,407,000 | 599,884,000 |
Held to maturity Fair Value | 549,595,000 | 592,763,000 |
Collateralized Mortgage Backed Securities [Member] | GNMA [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 145,538,000 | 163,614,000 |
Available-for-sale Securities | 146,684,000 | 165,235,000 |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Collateralized Mortgage Backed Securities [Member] | CMO's [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 92,622,000 | 103,990,000 |
Available-for-sale Securities | 91,554,000 | 101,831,000 |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Collateralized Mortgage Backed Securities [Member] | Maturities Due From One To Five Years [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 8,102,000 | |
Available-for-sale Securities | 8,185,000 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
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 | 8,102,000 | |
Available-for-sale Securities | 8,185,000 | |
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 | 140,214,000 | |
Available-for-sale Securities | 139,450,000 | |
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 | 69,364,000 | |
Available-for-sale Securities | 69,403,000 | |
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 | 70,850,000 | |
Available-for-sale Securities | 70,047,000 | |
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 | 436,232,000 | |
Available-for-sale Securities | 437,296,000 | |
Held-to-maturity, Amortized cost | 555,407,000 | |
Held to maturity Fair Value | 549,595,000 | |
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 | 268,922,000 | |
Available-for-sale Securities | 269,105,000 | |
Held-to-maturity, Amortized cost | 555,407,000 | |
Held to maturity Fair Value | 549,595,000 | |
Collateralized Mortgage Backed Securities [Member] | Maturities Due After Ten Years [Member] | GNMA [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 145,538,000 | |
Available-for-sale Securities | 146,684,000 | |
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 | 21,772,000 | |
Available-for-sale Securities | 21,507,000 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Investment Securities | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 64,732,000 | 60,095,000 |
Available-for-sale Securities | 64,396,000 | 58,932,000 |
Investment Securities | US Treasury Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 55,031,000 | 49,672,000 |
Available-for-sale Securities | 54,990,000 | 49,054,000 |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Investment Securities | Obligation of US Government sponsored agencies at loss [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 3,353,000 | 3,903,000 |
Available-for-sale Securities | 3,326,000 | 3,884,000 |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Investment Securities | Obligation of Puerto Rico Government and political subdivisions [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 4,680,000 | 4,680,000 |
Available-for-sale Securities | 4,341,000 | 4,073,000 |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Investment Securities | Other Debt Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 1,668,000 | 1,840,000 |
Available-for-sale Securities | 1,739,000 | $ 1,921,000 |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Investment Securities | Maturities Due In Less Than One Year [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 45,092,000 | |
Available-for-sale Securities | 45,095,000 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Investment Securities | Maturities Due In Less Than One Year [Member] | US Treasury Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 45,092,000 | |
Available-for-sale Securities | 45,095,000 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Investment Securities | Maturities Due In Less Than One Year [Member] | Obligation of US Government sponsored agencies at loss [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] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 17,972,000 | |
Available-for-sale Securities | 17,562,000 | |
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 | 9,939,000 | |
Available-for-sale Securities | 9,895,000 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Investment Securities | Maturities Due From One To Five Years [Member] | Obligation of US Government sponsored agencies at loss [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 3,353,000 | |
Available-for-sale Securities | 3,326,000 | |
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 | 4,680,000 | |
Available-for-sale Securities | 4,341,000 | |
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 | 1,668,000 | |
Available-for-sale Securities | 1,739,000 | |
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 | 1,668,000 | |
Available-for-sale Securities | 1,739,000 | |
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) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Schedule of Sale of Available-for-sale Securities [Line Items] | ||
Sale Price | $ 212,203 | $ 300,483 |
Book Value | 205,312 | 288,276 |
Available-for-sale Securities, Gross Realized Gains | 6,891 | 16,324 |
Available-for-sale Securities, Gross Realized Losses | 0 | 4,117 |
Collateralized Mortgage Backed Securities [Member] | ||
Schedule of Sale of Available-for-sale Securities [Line Items] | ||
Sale Price | 172,794 | 293,505 |
Book Value | 166,015 | 277,181 |
Available-for-sale Securities, Gross Realized Gains | 6,779 | 16,324 |
Available-for-sale Securities, Gross Realized Losses | 0 | 0 |
Collateralized Mortgage Backed Securities [Member] | FNMA and FHLMC [Member] | ||
Schedule of Sale of Available-for-sale Securities [Line Items] | ||
Sale Price | 107,510 | 293,505 |
Book Value | 102,311 | 277,181 |
Available-for-sale Securities, Gross Realized Gains | 5,199 | 16,324 |
Available-for-sale Securities, Gross Realized Losses | 0 | 0 |
Collateralized Mortgage Backed Securities [Member] | GNMA [Member] | ||
Schedule of Sale of Available-for-sale Securities [Line Items] | ||
Sale Price | 65,284 | |
Book Value | 63,704 | |
Available-for-sale Securities, Gross Realized Gains | 1,580 | |
Available-for-sale Securities, Gross Realized Losses | 0 | |
Collateralized Mortgage Backed Securities [Member] | Obligations of Puerto Rico Government and Public Instrumentalities | ||
Schedule of Sale of Available-for-sale Securities [Line Items] | ||
Sale Price | 6,978 | |
Book Value | 11,095 | |
Available-for-sale Securities, Gross Realized Gains | 0 | |
Available-for-sale Securities, Gross Realized Losses | $ 4,117 | |
Securities Investment [Member] | ||
Schedule of Sale of Available-for-sale Securities [Line Items] | ||
Sale Price | 39,409 | |
Book Value | 39,297 | |
Available-for-sale Securities, Gross Realized Gains | 112 | |
Available-for-sale Securities, Gross Realized Losses | 0 | |
Securities Investment [Member] | US Treasury Securities [Member] | ||
Schedule of Sale of Available-for-sale Securities [Line Items] | ||
Sale Price | 39,409 | |
Book Value | 39,297 | |
Available-for-sale Securities, Gross Realized Gains | 112 | |
Available-for-sale Securities, Gross Realized Losses | $ 0 |
Investment Securities (Gains an
Investment Securities (Gains and losses by category) (Details) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Available For Sale Securities Continuous Unrealized Loss Position Amortized Cost [Abstract] | ||
Available for sale - Amortized cost - less than 12 month | $ 266,288,000 | $ 335,079,000 |
Available for sale - Amortized cost - more than 12 month | 38,342,000 | 38,563,000 |
Total Available for Sale Amortization cost | 304,630,000 | 373,642,000 |
Available For Sale Securities Continuous Unrealized Loss Position Aggregate Losses [Abstract] | ||
Available for sale - Unrealized Loss - less than 12 month | 3,064,000 | 5,723,000 |
Available for sale - Unrealized Loss - more than 12 month | 708,000 | 1,400,000 |
Total Available for Sale Unrealized Loss | 3,772,000 | 7,123,000 |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value [Abstract] | ||
Available for sale - Fair Value - less than 12 month | 263,224,000 | 329,356,000 |
Available-for-sale, Fair Value - more than 12 month | 37,634,000 | 37,163,000 |
Total Available for Sale Fair Value | 300,858,000 | 366,519,000 |
Continuous Unrealized Loss Position Amortized Cost [Abstract] | ||
Held to Maturity - Amortized cost - less than 12 month | 471,100,000 | 525,258,000 |
Held to Maturity - Amortized cost - more than 12 month | 6,753,000 | |
Held to Maturity - Amortized Cost | 477,853,000 | 525,258,000 |
Held To Maturity Securities, Continuous Unrealized Loss Position Aggregate Losses [Abstract] | ||
Held to Maturity- Unrealized Loss - less than 12 month | 5,860,000 | 7,266,000 |
Held to Maturity- Unrealized Loss - more than 12 month | 164,000 | |
Held to Maturity- Unrealized Loss | 6,024,000 | 7,266,000 |
Held To Maturity Securities Continuous Unrealized Loss Position Fair Value [Abstract] | ||
Held-to-Maturity - Fair Value - less than 12 Month | 465,240,000 | 517,992,000 |
Held-to-Maturity - Fair Value - more than 12 Month | 6,589,000 | |
Held to Maturity - Fair Value | 471,829,000 | 517,992,000 |
Investment Securities Continuous Unrealized Loss Position [Abstract] | ||
Investment Securities - Amortized Cost | 782,483,000 | 898,900,000 |
Investment Securities - Unrealized Loss | 9,796,000 | 14,389,000 |
Investment Securities - Fair Value | 772,687,000 | 884,511,000 |
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 | 61,115,000 | 67,777,000 |
Available for sale - Amortized cost - more than 12 month | 30,309,000 | 33,883,000 |
Total Available for Sale Amortization cost | 91,424,000 | 101,660,000 |
Available For Sale Securities Continuous Unrealized Loss Position Aggregate Losses [Abstract] | ||
Available for sale - Unrealized Loss - less than 12 month | 736,000 | 1,430,000 |
Available for sale - Unrealized Loss - more than 12 month | 342,000 | 793,000 |
Total Available for Sale Unrealized Loss | 1,078,000 | 2,223,000 |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value [Abstract] | ||
Available for sale - Fair Value - less than 12 month | 60,379,000 | 66,347,000 |
Available-for-sale, Fair Value - more than 12 month | 29,967,000 | 33,090,000 |
Total Available for Sale Fair Value | 90,346,000 | 99,437,000 |
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 | 4,680,000 | 4,680,000 |
Total Available for Sale Amortization cost | 4,680,000 | 4,680,000 |
Available For Sale Securities Continuous Unrealized Loss Position Aggregate Losses [Abstract] | ||
Available for sale - Unrealized Loss - more than 12 month | 339,000 | 607,000 |
Total Available for Sale Unrealized Loss | 339,000 | 607,000 |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value [Abstract] | ||
Available-for-sale, Fair Value - more than 12 month | 4,341,000 | 4,073,000 |
Total Available for Sale Fair Value | 4,341,000 | 4,073,000 |
FNMA and FHLMC [Member] | ||
Available For Sale Securities Continuous Unrealized Loss Position Amortized Cost [Abstract] | ||
Available for sale - Amortized cost - less than 12 month | 164,473,000 | 184,782,000 |
Total Available for Sale Amortization cost | 164,473,000 | 184,782,000 |
Available For Sale Securities Continuous Unrealized Loss Position Aggregate Losses [Abstract] | ||
Available for sale - Unrealized Loss - less than 12 month | 1,797,000 | 3,036,000 |
Total Available for Sale Unrealized Loss | 1,797,000 | 3,036,000 |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value [Abstract] | ||
Available for sale - Fair Value - less than 12 month | 162,676,000 | 181,746,000 |
Total Available for Sale Fair Value | 162,676,000 | 181,746,000 |
Continuous Unrealized Loss Position Amortized Cost [Abstract] | ||
Held to Maturity - Amortized cost - less than 12 month | 471,100,000 | 525,258,000 |
Held to Maturity - Amortized cost - more than 12 month | 6,753,000 | |
Held to Maturity - Amortized Cost | 477,853,000 | 525,258,000 |
Held To Maturity Securities, Continuous Unrealized Loss Position Aggregate Losses [Abstract] | ||
Held to Maturity- Unrealized Loss - less than 12 month | 5,860,000 | 7,266,000 |
Held to Maturity- Unrealized Loss - more than 12 month | 164,000 | |
Held to Maturity- Unrealized Loss | 6,024,000 | 7,266,000 |
Held To Maturity Securities Continuous Unrealized Loss Position Fair Value [Abstract] | ||
Held-to-Maturity - Fair Value - less than 12 Month | 465,240,000 | 517,992,000 |
Held-to-Maturity - Fair Value - more than 12 Month | 6,589,000 | |
Held to Maturity - Fair Value | 471,829,000 | 517,992,000 |
Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | ||
Available For Sale Securities Continuous Unrealized Loss Position Amortized Cost [Abstract] | ||
Available for sale - Amortized cost - less than 12 month | 30,437,000 | 29,445,000 |
Total Available for Sale Amortization cost | 30,437,000 | 29,445,000 |
Available For Sale Securities Continuous Unrealized Loss Position Aggregate Losses [Abstract] | ||
Available for sale - Unrealized Loss - less than 12 month | 487,000 | 620,000 |
Total Available for Sale Unrealized Loss | 487,000 | 620,000 |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value [Abstract] | ||
Available for sale - Fair Value - less than 12 month | 29,950,000 | 28,825,000 |
Total Available for Sale Fair Value | 29,950,000 | 28,825,000 |
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 | 3,903,000 | |
Available for sale - Amortized cost - more than 12 month | 3,353,000 | |
Total Available for Sale Amortization cost | 3,353,000 | 3,903,000 |
Available For Sale Securities Continuous Unrealized Loss Position Aggregate Losses [Abstract] | ||
Available for sale - Unrealized Loss - less than 12 month | 618,000 | |
Available for sale - Unrealized Loss - more than 12 month | 27,000 | |
Total Available for Sale Unrealized Loss | 27,000 | 618,000 |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value [Abstract] | ||
Available for sale - Fair Value - less than 12 month | 3,884,000 | |
Available-for-sale, Fair Value - more than 12 month | 3,326,000 | |
Total Available for Sale Fair Value | 3,326,000 | 3,884,000 |
US Treasury Securities at loss | ||
Available For Sale Securities Continuous Unrealized Loss Position Amortized Cost [Abstract] | ||
Available for sale - Amortized cost - less than 12 month | 10,263,000 | 49,172,000 |
Total Available for Sale Amortization cost | 10,263,000 | 49,172,000 |
Available For Sale Securities Continuous Unrealized Loss Position Aggregate Losses [Abstract] | ||
Available for sale - Unrealized Loss - less than 12 month | 44,000 | 618,000 |
Total Available for Sale Unrealized Loss | 44,000 | 618,000 |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value [Abstract] | ||
Available for sale - Fair Value - less than 12 month | 10,219,000 | 48,554,000 |
Total Available for Sale Fair Value | $ 10,219,000 | $ 48,554,000 |
Investment Securities (Other-th
Investment Securities (Other-than-temporarily Impaired Securities) (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Other Than Temporary Impairment Credit Losses Recognized In Earnings Roll Forward | ||
Begging Balance | $ 0 | $ 1,490 |
Reduction from Securities Sold during the period | 0 | 1,490 |
Ending Balance | $ 0 | $ 0 |
Loans Receivable (Narratives) (
Loans Receivable (Narratives) (Details) - USD ($) $ in Thousands | Jul. 05, 2017 | Jul. 01, 2017 | Jun. 30, 2017 | Dec. 31, 2016 |
Accounts Notes And Loans Receivable Line Items | ||||
Financing Receivable Modifications Recorded Investment Not Included In Non Accrual | $ 98,700 | $ 98,100 | ||
Originated Loans Granted To Puerto Rico Government | 132,200 | 136,600 | ||
Acquired Credit Facilities Granted to the Puerto Rico Public Corporation | 66,600 | 66,200 | ||
Puerto Rico Housing Finance Authority credit facilities | 10,600 | |||
Impaired Commercial Loans | 58,100 | 54,300 | ||
Allowance for impaired commercial loans | 1,900 | 1,800 | ||
Impaired Mortgage Loans | 87,000 | 91,600 | ||
Allowance For Impaired Mortgage Loans | 8,600 | 7,800 | ||
Municipality loan, sale price | $ 28,800 | |||
Municipal loan at lower of cost or fair value | $ 33,647 | $ 0 | ||
Municipal Loan Held for Sale Scheduled Principal Payments | $ 4,800 | |||
Municipal Loan Held for Investment Scheduled Principal Payments | 3,700 | |||
Acquired Municipal Loans Scheduled Principal Payments | $ 5,200 |
Loans Receivable (Composition o
Loans Receivable (Composition of loan portfolio) (Details) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 4,169,896,000 | $ 4,245,364,000 |
Allowance for loan and lease losses | (132,295,000) | (115,937,000) |
Loans, net of allowance for loan and lease losse, net. | 4,037,601,000 | 4,129,427,000 |
Deferred loan cost (fees), net | 6,574,000 | 5,766,000 |
Loans receivable net of deferred loan cost (fees) | 4,044,175,000 | 4,135,193,000 |
Mortgage loans held-for-sale | 14,044,000 | 12,499,000 |
Other Loans Held for Sale | 33,647,000 | 0 |
Total loans, net | 4,091,866,000 | 4,147,692,000 |
Acquired BBVAPR loans [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 939,812,000 | 1,043,244,000 |
Allowance for loan and lease losses | (40,842,000) | (35,356,000) |
Loans, net of allowance for loan and lease losse, net. | 898,970,000 | 1,007,888,000 |
Loans receivable net of deferred loan cost (fees) | 898,970,000 | 1,007,888,000 |
Total loans, net | 898,970,000 | 1,007,888,000 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 69,244,000 | 91,450,000 |
Allowance for loan and lease losses | (3,348,000) | (4,300,000) |
Loans, net of allowance for loan and lease losse, net. | 65,896,000 | 87,150,000 |
Loans receivable net of deferred loan cost (fees) | 65,896,000 | 87,150,000 |
Total loans, net | 65,896,000 | 87,150,000 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Commercial Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 5,350,000 | 5,562,000 |
Allowance for loan and lease losses | (41,000) | (169,000) |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Consumer Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 30,233,000 | 32,862,000 |
Allowance for loan and lease losses | (2,623,000) | (3,028,000) |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Auto Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 33,661,000 | 53,026,000 |
Allowance for loan and lease losses | (684,000) | (1,103,000) |
Acquired BBVAPR Accounted under ASC 310-30 [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 870,568,000 | 951,794,000 |
Allowance for loan and lease losses | (37,494,000) | (31,056,000) |
Loans, net of allowance for loan and lease losse, net. | 833,074,000 | 920,738,000 |
Loans receivable net of deferred loan cost (fees) | 833,074,000 | 920,738,000 |
Total loans, net | 833,074,000 | 920,738,000 |
Acquired BBVAPR Accounted under ASC 310-30 [Member] | Mortgage Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 544,325,000 | 569,253,000 |
Allowance for loan and lease losses | (4,141,000) | (2,682,000) |
Acquired BBVAPR Accounted under ASC 310-30 [Member] | Commercial Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 266,002,000 | 292,564,000 |
Allowance for loan and lease losses | (25,614,000) | (23,452,000) |
Acquired BBVAPR Accounted under ASC 310-30 [Member] | Consumer Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 2,163,000 | 4,301,000 |
Acquired BBVAPR Accounted under ASC 310-30 [Member] | Auto Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 58,078,000 | 85,676,000 |
Allowance for loan and lease losses | (7,739,000) | (4,922,000) |
Eurobank Acquired Loans | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 138,479,000 | 155,850,000 |
Allowance for loan and lease losses | (21,787,000) | (21,281,000) |
Loans, net of allowance for loan and lease losse, net. | 116,692,000 | 134,569,000 |
Loans receivable net of deferred loan cost (fees) | 116,692,000 | 134,569,000 |
Total loans, net | 116,692,000 | 134,569,000 |
Eurobank Acquired Loans | Commercial Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 66,894,000 | 81,460,000 |
Eurobank Acquired Loans | Consumer Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 1,256,000 | 1,372,000 |
Eurobank Acquired Loans | Loans secured by 1-4 family residential properties, covered [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 70,329,000 | 73,018,000 |
Originated Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 3,091,605,000 | 3,046,270,000 |
Allowance for loan and lease losses | (69,666,000) | (59,300,000) |
Loans, net of allowance for loan and lease losse, net. | 3,021,939,000 | 2,986,970,000 |
Deferred loan cost (fees), net | 6,574,000 | 5,766,000 |
Loans receivable net of deferred loan cost (fees) | 3,028,513,000 | 2,992,736,000 |
Total loans, net | 3,028,513,000 | 2,992,736,000 |
Originated Loan [Member] | Mortgage Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 699,290,000 | 721,494,000 |
Allowance for loan and lease losses | (18,664,000) | (17,344,000) |
Originated Loan [Member] | Commercial Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 1,270,844,000 | 1,277,866,000 |
Allowance for loan and lease losses | (17,279,000) | (8,995,000) |
Originated Loan [Member] | Consumer Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 314,267,000 | 290,515,000 |
Allowance for loan and lease losses | (14,981,000) | (13,067,000) |
Originated Loan [Member] | Auto and Leasing [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 807,204,000 | 756,395,000 |
Allowance for loan and lease losses | (18,742,000) | (19,463,000) |
Acquired loans [Member] | Eurobank Acquired Loans | ||
Loans And Leases Receivable Net Reported Amount | ||
Allowance for loan and lease losses | (21,787,000) | (21,281,000) |
Acquired loans [Member] | Eurobank Acquired Loans | Consumer Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Allowance for loan and lease losses | (5,000) | (6,000) |
Acquired loans [Member] | Eurobank Acquired Loans | Loans secured by 1-4 family residential properties, covered [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Allowance for loan and lease losses | (13,651,000) | (11,947,000) |
Acquired loans [Member] | Eurobank Acquired Loans | Commercial and Other Construction Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Allowance for loan and lease losses | $ (8,131,000) | $ (9,328,000) |
Loans Receivable (Aging of reco
Loans Receivable (Aging of recorded investment in gross loans) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | $ 4,169,896 | $ 4,245,364 |
Originated Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 64,912 | 57,678 |
60 - 89 Days Past Due | 43,895 | 43,274 |
Greater than 90 Days Past Due | 86,342 | 96,685 |
Total Past Due | 195,149 | 197,637 |
Current but Non-Accrual Loans | 11,568 | 12,245 |
Current | 2,884,888 | 2,836,388 |
Total Loans | 3,091,605 | 3,046,270 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 1,884 | 2,863 |
Originated Loan [Member] | Mortgage Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 13,001 | 10,574 |
60 - 89 Days Past Due | 19,291 | 21,942 |
Greater than 90 Days Past Due | 62,847 | 75,668 |
Total Past Due | 95,139 | 108,184 |
Current but Non-Accrual Loans | 3,727 | 4,291 |
Current | 600,424 | 609,019 |
Total Loans | 699,290 | 721,494 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 1,884 | 2,863 |
Originated Loan [Member] | Traditional loan | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 1,653 | 1,663 |
60 - 89 Days Past Due | 11,839 | 14,239 |
Greater than 90 Days Past Due | 35,509 | 44,716 |
Total Past Due | 49,001 | 60,618 |
Current but Non-Accrual Loans | 806 | 692 |
Current | 516,337 | 523,779 |
Total Loans | 566,144 | 585,089 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 667 | 1,139 |
Originated Loan [Member] | Originated Up To The Year 2002 [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 193 | 196 |
60 - 89 Days Past Due | 1,406 | 2,176 |
Greater than 90 Days Past Due | 2,930 | 3,371 |
Total Past Due | 4,529 | 5,743 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 43,252 | 44,542 |
Total Loans | 47,781 | 50,285 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 168 | 158 |
Originated Loan [Member] | Originated In The Years 2003 And 2004 [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 333 | 156 |
60 - 89 Days Past Due | 3,162 | 3,872 |
Greater than 90 Days Past Due | 6,319 | 7,272 |
Total Past Due | 9,814 | 11,300 |
Current but Non-Accrual Loans | 299 | 181 |
Current | 76,028 | 79,226 |
Total Loans | 86,141 | 90,707 |
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 | 106 | 0 |
60 - 89 Days Past Due | 2,247 | 1,952 |
Greater than 90 Days Past Due | 3,500 | 4,306 |
Total Past Due | 5,853 | 6,258 |
Current but Non-Accrual Loans | 284 | 180 |
Current | 39,796 | 43,571 |
Total Loans | 45,933 | 50,009 |
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 | 262 | 506 |
60 - 89 Days Past Due | 1,641 | 2,905 |
Greater than 90 Days Past Due | 5,882 | 6,261 |
Total Past Due | 7,785 | 9,672 |
Current but Non-Accrual Loans | 185 | 94 |
Current | 56,871 | 59,534 |
Total Loans | 64,841 | 69,300 |
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 | 435 | 409 |
60 - 89 Days Past Due | 1,693 | 1,439 |
Greater than 90 Days Past Due | 8,653 | 11,732 |
Total Past Due | 10,781 | 13,580 |
Current but Non-Accrual Loans | 38 | 111 |
Current | 60,375 | 63,038 |
Total Loans | 71,194 | 76,729 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 335 | 398 |
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 | 324 | 349 |
60 - 89 Days Past Due | 1,506 | 1,772 |
Greater than 90 Days Past Due | 6,845 | 10,417 |
Total Past Due | 8,675 | 12,538 |
Current but Non-Accrual Loans | 0 | 126 |
Current | 124,191 | 127,196 |
Total Loans | 132,866 | 139,860 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 164 | 583 |
Originated Loan [Member] | Originated In Years 2014, 2015, 2016 and 2017 [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 0 | 47 |
60 - 89 Days Past Due | 184 | 123 |
Greater than 90 Days Past Due | 1,380 | 1,357 |
Total Past Due | 1,564 | 1,527 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 115,824 | 106,672 |
Total Loans | 117,388 | 108,199 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
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 | 0 |
Total Past Due | 0 | 0 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 332 | 337 |
Total Loans | 332 | 337 |
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 | 161 | 498 |
Greater than 90 Days Past Due | 4,303 | 4,730 |
Total Past Due | 4,464 | 5,228 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 16,011 | 17,631 |
Total Loans | 20,475 | 22,859 |
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 | 11,348 | 8,911 |
60 - 89 Days Past Due | 7,291 | 7,205 |
Greater than 90 Days Past Due | 13,806 | 16,541 |
Total Past Due | 32,445 | 32,657 |
Current but Non-Accrual Loans | 2,921 | 3,599 |
Current | 67,744 | 67,272 |
Total Loans | 103,110 | 103,528 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 1,217 | 1,724 |
Originated Loan [Member] | Total Traditional, non-traditional and loss mitigation program [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 13,001 | 10,574 |
60 - 89 Days Past Due | 19,291 | 21,942 |
Greater than 90 Days Past Due | 53,618 | 65,987 |
Total Past Due | 85,910 | 98,503 |
Current but Non-Accrual Loans | 3,727 | 4,291 |
Current | 600,092 | 608,682 |
Total Loans | 689,729 | 711,476 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 1,884 | 2,863 |
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 | 9,229 | 9,681 |
Total Past Due | 9,229 | 9,681 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 0 | 0 |
Total Loans | 9,229 | 9,681 |
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 | 2,558 | 1,092 |
60 - 89 Days Past Due | 2,090 | 510 |
Greater than 90 Days Past Due | 13,509 | 11,197 |
Total Past Due | 18,157 | 12,799 |
Current but Non-Accrual Loans | 7,052 | 7,514 |
Current | 1,245,635 | 1,257,553 |
Total Loans | 1,270,844 | 1,277,866 |
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 | 1,350 | 154 |
60 - 89 Days Past Due | 1,242 | 410 |
Greater than 90 Days Past Due | 12,156 | 10,167 |
Total Past Due | 14,748 | 10,731 |
Current but Non-Accrual Loans | 5,130 | 5,942 |
Current | 747,918 | 756,990 |
Total Loans | 767,796 | 773,663 |
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 | 226,979 | 242,770 |
Total Loans | 226,979 | 242,770 |
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 | 0 |
60 - 89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 254 | 254 |
Total Past Due | 254 | 254 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 46,806 | 26,546 |
Total Loans | 47,060 | 26,800 |
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 | 0 |
60 - 89 Days Past Due | 0 | 60 |
Greater than 90 Days Past Due | 3,601 | 3,319 |
Total Past Due | 3,601 | 3,379 |
Current but Non-Accrual Loans | 634 | 1,304 |
Current | 224,571 | 230,298 |
Total Loans | 228,806 | 234,981 |
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 | 1,350 | 154 |
60 - 89 Days Past Due | 1,242 | 350 |
Greater than 90 Days Past Due | 8,301 | 6,594 |
Total Past Due | 10,893 | 7,098 |
Current but Non-Accrual Loans | 4,496 | 4,638 |
Current | 230,863 | 237,992 |
Total Loans | 246,252 | 249,728 |
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 | 2,916 | 2,989 |
Total Loans | 2,916 | 2,989 |
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 | 16,395 |
Total Loans | 15,783 | 16,395 |
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 | 1,208 | 938 |
60 - 89 Days Past Due | 848 | 100 |
Greater than 90 Days Past Due | 1,353 | 1,030 |
Total Past Due | 3,409 | 2,068 |
Current but Non-Accrual Loans | 1,922 | 1,572 |
Current | 497,717 | 500,563 |
Total Loans | 503,048 | 504,203 |
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 | 161,839 | 136,438 |
Total Loans | 161,839 | 136,438 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Institutional Other Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 0 | 0 |
Total Past Due | 0 | 0 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 128,479 | 180,285 |
Total Loans | 128,479 | 180,285 |
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 | 881 | 0 |
60 - 89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 0 | 0 |
Total Past Due | 881 | 0 |
Current but Non-Accrual Loans | 1,227 | 1,278 |
Current | 84,158 | 80,355 |
Total Loans | 86,266 | 81,633 |
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 | 327 | 930 |
60 - 89 Days Past Due | 848 | 100 |
Greater than 90 Days Past Due | 1,300 | 969 |
Total Past Due | 2,475 | 1,999 |
Current but Non-Accrual Loans | 695 | 294 |
Current | 85,673 | 71,412 |
Total Loans | 88,843 | 73,705 |
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 | 0 | 8 |
60 - 89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 53 | 61 |
Total Past Due | 53 | 69 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 37,568 | 32,073 |
Total Loans | 37,621 | 32,142 |
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 | 3,439 | 3,298 |
60 - 89 Days Past Due | 2,056 | 1,808 |
Greater than 90 Days Past Due | 1,781 | 1,647 |
Total Past Due | 7,276 | 6,753 |
Current but Non-Accrual Loans | 699 | 259 |
Current | 306,292 | 283,503 |
Total Loans | 314,267 | 290,515 |
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 | 442 | 527 |
60 - 89 Days Past Due | 288 | 283 |
Greater than 90 Days Past Due | 636 | 525 |
Total Past Due | 1,366 | 1,335 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 26,308 | 25,023 |
Total Loans | 27,674 | 26,358 |
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 | 29 | 16 |
60 - 89 Days Past Due | 13 | 12 |
Greater than 90 Days Past Due | 20 | 5 |
Total Past Due | 62 | 33 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 167 | 174 |
Total Loans | 229 | 207 |
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 | 59 | 41 |
60 - 89 Days Past Due | 0 | 4 |
Greater than 90 Days Past Due | 29 | 32 |
Total Past Due | 88 | 77 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 2,188 | 2,327 |
Total Loans | 2,276 | 2,404 |
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 | 2,693 | 2,474 |
60 - 89 Days Past Due | 1,752 | 1,489 |
Greater than 90 Days Past Due | 1,096 | 1,081 |
Total Past Due | 5,541 | 5,044 |
Current but Non-Accrual Loans | 699 | 259 |
Current | 262,728 | 240,969 |
Total Loans | 268,968 | 246,272 |
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 | 216 | 240 |
60 - 89 Days Past Due | 3 | 20 |
Greater than 90 Days Past Due | 0 | 4 |
Total Past Due | 219 | 264 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 14,901 | 15,010 |
Total Loans | 15,120 | 15,274 |
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 | 45,914 | 42,714 |
60 - 89 Days Past Due | 20,458 | 19,014 |
Greater than 90 Days Past Due | 8,205 | 8,173 |
Total Past Due | 74,577 | 69,901 |
Current but Non-Accrual Loans | 90 | 181 |
Current | 732,537 | 686,313 |
Total Loans | 807,204 | 756,395 |
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 | 3,322 | 4,566 |
60 - 89 Days Past Due | 1,476 | 1,772 |
Greater than 90 Days Past Due | 1,965 | 1,797 |
Total Past Due | 6,763 | 8,135 |
Current but Non-Accrual Loans | 0 | 944 |
Current | 62,481 | 82,371 |
Total Loans | 69,244 | 91,450 |
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 | 78 | 130 |
60 - 89 Days Past Due | 32 | 34 |
Greater than 90 Days Past Due | 1,104 | 452 |
Total Past Due | 1,214 | 616 |
Current but Non-Accrual Loans | 0 | 929 |
Current | 4,136 | 4,017 |
Total Loans | 5,350 | 5,562 |
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 | 28 | 33 |
60 - 89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 1,057 | 329 |
Total Past Due | 1,085 | 362 |
Current but Non-Accrual Loans | 0 | 929 |
Current | 1,148 | 1,242 |
Total Loans | 2,233 | 2,533 |
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 | 28 | 33 |
60 - 89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 98 | 110 |
Total Past Due | 126 | 143 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 0 | 0 |
Total Loans | 126 | 143 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Floor Plan Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 959 | 219 |
Total Past Due | 959 | 219 |
Current but Non-Accrual Loans | 0 | 929 |
Current | 1,148 | 1,242 |
Total Loans | 2,107 | 2,390 |
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 | 78 | 97 |
60 - 89 Days Past Due | 32 | 34 |
Greater than 90 Days Past Due | 1,104 | 123 |
Total Past Due | 1,214 | 254 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 4,136 | 2,775 |
Total Loans | 5,350 | 3,029 |
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 | 50 | 97 |
60 - 89 Days Past Due | 32 | 34 |
Greater than 90 Days Past Due | 45 | 121 |
Total Past Due | 127 | 252 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 2,988 | 2,775 |
Total Loans | 3,115 | 3,027 |
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 | 2 | 2 |
Total Past Due | 2 | 2 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 0 | 0 |
Total Loans | 2 | 2 |
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 | 809 | 784 |
60 - 89 Days Past Due | 213 | 383 |
Greater than 90 Days Past Due | 536 | 828 |
Total Past Due | 1,558 | 1,995 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 28,675 | 30,867 |
Total Loans | 30,233 | 32,862 |
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 | 676 | 736 |
60 - 89 Days Past Due | 203 | 369 |
Greater than 90 Days Past Due | 489 | 708 |
Total Past Due | 1,368 | 1,813 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 26,206 | 28,280 |
Total Loans | 27,574 | 30,093 |
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 | 133 | 48 |
60 - 89 Days Past Due | 10 | 14 |
Greater than 90 Days Past Due | 47 | 120 |
Total Past Due | 190 | 182 |
Current but Non-Accrual Loans | 0 | 0 |
Current | 2,469 | 2,587 |
Total Loans | 2,659 | 2,769 |
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 | 2,435 | 3,652 |
60 - 89 Days Past Due | 1,231 | 1,355 |
Greater than 90 Days Past Due | 325 | 517 |
Total Past Due | 3,991 | 5,524 |
Current but Non-Accrual Loans | 0 | 15 |
Current | 29,670 | 47,487 |
Total Loans | 33,661 | 53,026 |
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) - Acquired under ASC 310-30 Non-Covered Loans [Member] - USD ($) $ in Thousands | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Accounts Notes And Loans Receivable Line Items | ||||||
Financing Receivable Acquired With Deteriorated Credit Quality | $ 1,569,855 | $ 1,669,602 | ||||
Non-acretable discount | 366,762 | $ 365,519 | 363,107 | $ 394,500 | $ 428,976 | $ 434,190 |
Cash expected to be collected | 1,203,093 | 1,306,495 | ||||
Accretable yield | 332,525 | 354,701 | ||||
Carrying amount, gross | 870,568 | 951,794 | ||||
Allowance for loan and lease losses | 37,494 | 31,056 | ||||
Carrying amount, net | $ 833,074 | $ 920,738 |
Loans Receivable (Accretable yi
Loans Receivable (Accretable yield and non-accretable discount activity) (Details) - Acquired under ASC 310-30 Non-Covered Loans [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | $ 333,360 | $ 340,663 | $ 354,701 | $ 361,688 |
Accretion Accretable | 14,539 | 19,359 | 30,159 | 40,523 |
Change in expected cash flow | 16,142 | 3,283 | 16,429 | 3,612 |
Transfer from (to) non-accretable discount | (2,438) | 30,531 | (8,446) | 30,341 |
Balance at end of period | 332,525 | 355,118 | 332,525 | 355,118 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 365,519 | 428,976 | 363,107 | 434,190 |
Change in actual and expected losses | (1,195) | (3,945) | (4,791) | (9,349) |
Transfer (to) from accretable yield | 2,438 | (30,531) | 8,446 | (30,341) |
Balance at end of period | 366,762 | 394,500 | 366,762 | 394,500 |
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 | 276,817 | 260,557 | 292,115 | 268,794 |
Accretion Accretable | 7,694 | 8,294 | 15,584 | 16,601 |
Change in expected cash flow | 1 | 0 | 2 | 0 |
Transfer from (to) non-accretable discount | 1,024 | 31,560 | (6,385) | 31,630 |
Balance at end of period | 270,148 | 283,823 | 270,148 | 283,823 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 309,993 | 370,155 | 305,615 | 374,772 |
Change in actual and expected losses | (2,465) | (2,442) | (5,496) | (6,989) |
Transfer (to) from accretable yield | (1,024) | (31,560) | 6,385 | (31,630) |
Balance at end of period | 306,504 | 336,153 | 306,504 | 336,153 |
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 | 46,902 | 57,258 | 50,366 | 65,026 |
Accretion Accretable | 4,513 | 6,579 | 9,494 | 14,287 |
Change in expected cash flow | 15,993 | 2,654 | 16,191 | 2,982 |
Transfer from (to) non-accretable discount | (2,344) | (1,026) | (1,025) | (1,414) |
Balance at end of period | 56,038 | 52,307 | 56,038 | 52,307 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 14,803 | 18,148 | 16,965 | 18,545 |
Change in actual and expected losses | (280) | (1,173) | (1,123) | (1,958) |
Transfer (to) from accretable yield | 2,344 | 1,026 | 1,025 | 1,414 |
Balance at end of period | 16,867 | 18,001 | 16,867 | 18,001 |
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 | 6,583 | 17,587 | 8,538 | 21,578 |
Accretion Accretable | 1,776 | 3,616 | 3,923 | 7,827 |
Change in expected cash flow | 98 | 630 | 150 | 631 |
Transfer from (to) non-accretable discount | (52) | (498) | 88 | (279) |
Balance at end of period | 4,853 | 14,103 | 4,853 | 14,103 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 22,564 | 21,938 | 22,407 | 22,039 |
Change in actual and expected losses | 1,344 | (315) | 1,641 | (197) |
Transfer (to) from accretable yield | 52 | 498 | (88) | 279 |
Balance at end of period | 23,960 | 22,121 | 23,960 | 22,121 |
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 | 3,058 | 5,261 | 3,682 | 6,290 |
Accretion Accretable | 556 | 870 | 1,158 | 1,808 |
Change in expected cash flow | 50 | (1) | 86 | (1) |
Transfer from (to) non-accretable discount | (1,066) | 495 | (1,124) | 404 |
Balance at end of period | 1,486 | 4,885 | 1,486 | 4,885 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 18,159 | 18,735 | 18,120 | 18,834 |
Change in actual and expected losses | 206 | (15) | 187 | (205) |
Transfer (to) from accretable yield | 1,066 | (495) | 1,124 | (404) |
Balance at end of period | $ 19,431 | $ 18,225 | $ 19,431 | $ 18,225 |
Loans Receivable (Eurobank Acqu
Loans Receivable (Eurobank Acquired Loan carrying amounts) (Details) - Eurobank Acquired Loans - USD ($) $ in Thousands | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Accounts Notes And Loans Receivable Line Items | ||||||
Financing Receivable Acquired With Deteriorated Credit Quality | $ 201,564 | $ 232,698 | ||||
Non-acretable discount | 9,010 | $ 10,236 | 12,340 | $ 11,555 | $ 12,703 | $ 21,156 |
Cash expected to be collected | 192,554 | 220,358 | ||||
Accretable yield | 54,075 | 64,508 | ||||
Carrying amount, gross | 138,479 | 155,850 | ||||
Financing Receivable, Allowance for Credit Losses | 21,787 | 21,281 | ||||
Carrying amount, net | $ 116,692 | $ 134,569 |
Loans Receivable (Accretable 61
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 | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | $ 59,311 | $ 86,227 | $ 64,508 | $ 84,392 |
Accretion Accretable | 6,037 | 6,898 | 12,647 | 14,458 |
Change in expected cash flow | 620 | 1,425 | 1,683 | 11,451 |
Transfer from (to) non-accretable discount | 181 | (1,072) | 531 | (1,703) |
Balance at end of period | 54,075 | 79,682 | 54,075 | 79,682 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 10,236 | 12,703 | 12,340 | 21,156 |
Change in actual and expected losses | (1,045) | (2,220) | (2,799) | (11,304) |
Transfer (to) from accretable yield | (181) | 1,072 | (531) | 1,703 |
Balance at end of period | 9,010 | 11,555 | 9,010 | 11,555 |
Mortgage | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 44,697 | 50,787 | 45,839 | 51,954 |
Accretion Accretable | 1,923 | 2,263 | 3,827 | 4,529 |
Change in expected cash flow | 19 | (198) | 100 | 786 |
Transfer from (to) non-accretable discount | 219 | 10 | 900 | 125 |
Balance at end of period | 43,012 | 48,336 | 43,012 | 48,336 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 7,426 | 12,703 | 8,441 | 12,869 |
Change in actual and expected losses | (520) | (1,138) | (854) | (1,189) |
Transfer (to) from accretable yield | (219) | (10) | (900) | (125) |
Balance at end of period | 6,687 | 11,555 | 6,687 | 11,555 |
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 | 12,743 | 33,203 | 16,475 | 26,970 |
Accretion Accretable | 4,061 | 4,528 | 8,571 | 8,623 |
Change in expected cash flow | 543 | 1,619 | 1,321 | 12,712 |
Transfer from (to) non-accretable discount | (68) | (1,152) | (68) | (1,917) |
Balance at end of period | 9,157 | 29,142 | 9,157 | 29,142 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 2,471 | 0 | 3,880 | 0 |
Change in actual and expected losses | (529) | (1,152) | (1,938) | (1,917) |
Transfer (to) from accretable yield | 68 | 1,152 | 68 | 1,917 |
Balance at end of period | 2,010 | 0 | 2,010 | 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 | 1,871 | 2,237 | 2,194 | 2,255 |
Accretion Accretable | 5 | 33 | 43 | 47 |
Change in expected cash flow | 6 | 0 | 43 | (23) |
Transfer from (to) non-accretable discount | 34 | 0 | (288) | 19 |
Balance at end of period | 1,906 | 2,204 | 1,906 | 2,204 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 333 | 0 | 11 | 0 |
Change in actual and expected losses | 0 | 0 | 0 | 19 |
Transfer (to) from accretable yield | (34) | 0 | 288 | (19) |
Balance at end of period | 299 | 0 | 299 | 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 | 0 | 0 | 0 |
Accretion Accretable | 11 | 2 | 11 | 2 |
Change in expected cash flow | (22) | (77) | (165) | (77) |
Transfer from (to) non-accretable discount | 33 | 75 | 176 | 75 |
Balance at end of period | 0 | 0 | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 0 | 0 | 0 | 0 |
Change in actual and expected losses | 33 | 75 | 176 | 75 |
Transfer (to) from accretable yield | (33) | (75) | (176) | (75) |
Balance at end of period | 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 | 0 | 0 | 3,213 |
Accretion Accretable | 37 | 76 | 195 | 1,261 |
Change in expected cash flow | 74 | 81 | 384 | (1,947) |
Transfer from (to) non-accretable discount | (37) | (5) | (189) | (5) |
Balance at end of period | 0 | 0 | 0 | 0 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | 6 | 0 | 8 | 8,287 |
Change in actual and expected losses | (29) | (5) | (183) | (8,292) |
Transfer (to) from accretable yield | 37 | 5 | 189 | 5 |
Balance at end of period | $ 14 | $ 0 | $ 14 | $ 0 |
Loans Receivable (Investment in
Loans Receivable (Investment in loans on non-accrual status) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 95,163 | $ 104,090 |
Originated Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 93,169 | 101,295 |
Originated Loan [Member] | Mortgage Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 58,668 | 70,730 |
Originated Loan [Member] | Traditional loan | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 36,283 | 45,256 |
Originated Loan [Member] | Originated Up To The Year 2002 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,824 | 3,336 |
Originated Loan [Member] | Originated In The Years 2003 And 2004 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 6,809 | 7,668 |
Originated Loan [Member] | Originated In The Year 2005 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 3,890 | 4,487 |
Originated Loan [Member] | Originated In The Year 2006 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 6,067 | 6,746 |
Originated Loan [Member] | Originated In The Years 2007 2008 And 2009 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 8,633 | 11,526 |
Originated Loan [Member] | Originated In The Years 2010 2011 2012 2013 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 6,680 | 10,089 |
Originated Loan [Member] | Originated In Years 2014, 2015, 2016 and 2017 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,380 | 1,404 |
Originated Loan [Member] | NonTraditional Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 4,303 | 4,730 |
Originated Loan [Member] | Loss Mitigation Program [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 18,082 | 20,744 |
Originated Loan [Member] | Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 23,519 | 19,532 |
Originated Loan [Member] | Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 18,729 | 16,243 |
Originated Loan [Member] | Institutional Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 254 | 0 |
Originated Loan [Member] | Retail Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 14,239 | 11,561 |
Originated Loan [Member] | Middle Market Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 4,236 | 4,682 |
Originated Loan [Member] | Other Commercial and Industrial[Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 4,790 | 3,289 |
Originated Loan [Member] | Middle Market Other Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,108 | 1,278 |
Originated Loan [Member] | Retail Other Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,629 | 1,950 |
Originated Loan [Member] | Floor Plan Other Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 53 | 61 |
Originated Loan [Member] | Consumer Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,687 | 1,981 |
Originated Loan [Member] | Credit Cards [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 636 | 525 |
Originated Loan [Member] | Overdrafts [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 20 | 0 |
Originated Loan [Member] | Unsecured personal lines of credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 29 | 32 |
Originated Loan [Member] | Unsecured personal loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,999 | 1,420 |
Originated Loan [Member] | Cash collateral personal loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 3 | 4 |
Originated Loan [Member] | Auto and Leasing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 8,295 | 9,052 |
Most recent acquired loans accounted for under ASC 310-20 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,994 | 2,795 |
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 | 1,133 | 1,415 |
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 | 1,086 | 1,292 |
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 | 959 | 1,149 |
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 | 127 | 143 |
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 | 47 | 123 |
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 | 45 | 121 |
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 | 2 | 2 |
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 | 536 | 828 |
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 | 489 | 708 |
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 | 47 | 120 |
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 | $ 325 | $ 552 |
Loans Receivable (Recorded Inve
Loans Receivable (Recorded Investment in loans individually evaluated for impairment) (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Financing Receivable, Impaired [Line Items] | ||
Allowance for loan and lease losses | $ 132,295 | $ 115,937 |
Originated Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | 161,663 | 162,322 |
Recorded Investment | 144,370 | 144,789 |
Allowance for loan and lease losses | $ 10,570 | $ 9,387 |
Coverage | 0.07% | 0.06% |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 926 | $ 1,184 |
Recorded Investment | 761 | 1,150 |
Allowance for loan and lease losses | $ 0 | $ 141 |
Coverage | 0.00% | 0.12% |
Acquired BBVAPR Accounted under ASC 310-30 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 850,815 | $ 887,646 |
Recorded Investment | 819,899 | 850,454 |
Allowance for loan and lease losses | $ 37,494 | $ 31,056 |
Coverage | 0.05% | 0.04% |
Eurobank Acquired Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 139,500 | $ 170,038 |
Recorded Investment | 124,974 | 146,530 |
Allowance for loan and lease losses | $ 21,787 | $ 21,281 |
Coverage | 0.17% | 0.15% |
Commercial impaired loans with specific allowance [Member] | Originated Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 21,475 | $ 13,183 |
Recorded Investment | 19,486 | 11,698 |
Allowance for loan and lease losses | $ 1,940 | $ 1,626 |
Coverage | 0.10% | 0.14% |
Commercial impaired loans with specific allowance [Member] | Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 0 | $ 944 |
Recorded Investment | 0 | 929 |
Allowance for loan and lease losses | $ 0 | $ 141 |
Coverage | 0.00% | 0.15% |
Residential troubled-debt restructuring impaired loans with specific allowance [Member] | Originated Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 95,821 | $ 100,101 |
Recorded Investment | 87,042 | 91,650 |
Allowance for loan and lease losses | $ 8,630 | $ 7,761 |
Coverage | 0.10% | 0.08% |
Commercial impaired loans with no specific allowance financing receivable | Originated Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 44,367 | $ 49,038 |
Recorded Investment | $ 37,842 | $ 41,441 |
Coverage | 0.00% | 0.00% |
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 | $ 926 | $ 240 |
Recorded Investment | $ 761 | $ 221 |
Coverage | 0.00% | 0.00% |
Mortgage impaired loan pool [Member] | Acquired BBVAPR Accounted under ASC 310-30 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 567,845 | $ 595,757 |
Recorded Investment | 544,326 | 569,250 |
Allowance for loan and lease losses | $ 4,141 | $ 2,682 |
Coverage | 0.01% | 0.00% |
Commercial impaired loan pool [Member] | Acquired BBVAPR Accounted under ASC 310-30 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 224,838 | $ 199,092 |
Recorded Investment | 217,495 | 195,528 |
Allowance for loan and lease losses | $ 25,614 | $ 23,452 |
Coverage | 0.12% | 0.12% |
Auto impaired loan pool. | Acquired BBVAPR Accounted under ASC 310-30 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 58,132 | $ 92,797 |
Recorded Investment | 58,078 | 85,676 |
Allowance for loan and lease losses | $ 7,739 | $ 4,922 |
Coverage | 0.13% | 0.06% |
Consumer impaired loan pool. | Eurobank Acquired Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 14 | $ 29 |
Recorded Investment | 1,256 | 1,372 |
Allowance for loan and lease losses | $ 5 | $ 6 |
Coverage | 0.00% | 0.00% |
Loans secured by 1-4 family residential properties, covered [Member] | Eurobank Acquired Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 83,293 | $ 88,017 |
Recorded Investment | 70,329 | 73,018 |
Allowance for loan and lease losses | $ 13,651 | $ 11,947 |
Coverage | 0.19% | 0.16% |
Commercial and Other Construction Loan [Member] | Eurobank Acquired Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 56,193 | $ 81,992 |
Recorded Investment | 53,389 | 72,140 |
Allowance for loan and lease losses | $ 8,131 | $ 9,328 |
Coverage | 0.15% | 0.13% |
Loans Receivable (Interest Inco
Loans Receivable (Interest Income Recognized in loans individually evaluated for impairment) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Loan [Member] | ||||
Impaired Financing Receivable Interest Income Accrual Method [Abstract] | ||||
Total Interest Income | $ 1,299 | $ 1,030 | $ 2,578 | $ 2,069 |
Impaired Financing Receivable Average Recorded Investment [Abstract] | ||||
Total Average Recorded Investment | 147,814 | 316,134 | 147,489 | 318,658 |
Originated Loans [Member] | ||||
Impaired Financing Receivable Interest Income Accrual Method [Abstract] | ||||
Total Interest Income | 1,299 | 1,015 | 2,578 | 2,039 |
Impaired Financing Receivable Average Recorded Investment [Abstract] | ||||
Total Average Recorded Investment | 147,051 | 315,345 | 146,649 | 318,030 |
Most recent acquired loans accounted for under ASC 310-20 [Member] | ||||
Impaired Financing Receivable Interest Income Accrual Method [Abstract] | ||||
Total Interest Income | 0 | 15 | 0 | 30 |
Impaired Financing Receivable Average Recorded Investment [Abstract] | ||||
Total Average Recorded Investment | 763 | 789 | 840 | 628 |
Commercial Loan [Member] | Originated Loans [Member] | ||||
Impaired Financing Receivable Interest Income Accrual Method [Abstract] | ||||
Impaired Financing Receivable With Related Allowance Interest Income Accrual Method | 193 | 75 | 385 | 150 |
Impaired Financing Receivable With No Related Allowance Interest Income Accrual Method | 383 | 149 | 766 | 298 |
Impaired Financing Receivable Average Recorded Investment [Abstract] | ||||
Impaired Financing Receivable With Related Allowance Average Recorded Investment | 14,908 | 194,759 | 13,859 | 195,777 |
Impaired Financing Receivable With No Related Allowance Average Recorded Investment | 44,528 | 29,579 | 44,211 | 31,603 |
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 | 0 | 0 | 0 | 0 |
Impaired Financing Receivable With No Related Allowance Interest Income Accrual Method | 0 | 15 | 0 | 30 |
Impaired Financing Receivable Average Recorded Investment [Abstract] | ||||
Impaired Financing Receivable With Related Allowance Average Recorded Investment | 0 | 0 | 0 | 0 |
Impaired Financing Receivable With No Related Allowance Average Recorded Investment | 763 | 789 | 840 | 628 |
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 | 723 | 791 | 1,427 | 1,591 |
Impaired Financing Receivable Average Recorded Investment [Abstract] | ||||
Impaired Financing Receivable With Related Allowance Average Recorded Investment | $ 87,615 | $ 91,007 | $ 88,579 | $ 90,650 |
Loans Receivable (TDR Pre_Post
Loans Receivable (TDR Pre/Post Modifications) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017USD ($)number | Jun. 30, 2016USD ($)number | Jun. 30, 2017USD ($)number | Jun. 30, 2016USD ($)number | |
Mortgage Loan [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of contracts | number | 27 | 19 | 59 | 52 |
Financing Receivable Modifications Pre Modification Recorded Investment | $ 3,349 | $ 2,670 | $ 7,353 | $ 6,628 |
Pre Modification Weighted Average Rate | 6.00% | 5.69% | 6.29% | 5.90% |
Pre Modification Weighted Average Term | 382 months | 372 months | 387 months | 365 months |
Financing Receivable Modifications Post Modification Recorded Investment | $ 3,313 | $ 2,670 | $ 7,328 | $ 7,525 |
Post Modification Weighted Average Rate | 4.21% | 4.54% | 4.26% | 4.73% |
Post Modification Weighted Average Term | 367 months | 494 months | 378 months | 493 months |
Commercial Loan [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of contracts | number | 9 | 6 | 18 | 8 |
Financing Receivable Modifications Pre Modification Recorded Investment | $ 2,155 | $ 668 | $ 3,373 | $ 1,323 |
Pre Modification Weighted Average Rate | 5.96% | 6.65% | 6.44% | 6.73% |
Pre Modification Weighted Average Term | 55 months | 65 months | 55 months | 53 months |
Financing Receivable Modifications Post Modification Recorded Investment | $ 2,155 | $ 668 | $ 3,374 | $ 1,324 |
Post Modification Weighted Average Rate | 5.12% | 5.91% | 5.41% | 6.31% |
Post Modification Weighted Average Term | 68 months | 86 months | 67 months | 61 months |
Consumer Loan [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of contracts | number | 37 | 26 | 62 | 47 |
Financing Receivable Modifications Pre Modification Recorded Investment | $ 477 | $ 364 | $ 869 | $ 556 |
Pre Modification Weighted Average Rate | 12.83% | 12.73% | 11.98% | 6.73% |
Pre Modification Weighted Average Term | 65 months | 75 months | 65 months | 75 months |
Financing Receivable Modifications Post Modification Recorded Investment | $ 477 | $ 372 | $ 907 | $ 603 |
Post Modification Weighted Average Rate | 10.87% | 10.20% | 10.62% | 10.56% |
Post Modification Weighted Average Term | 68 months | 70 months | 70 months | 71 months |
Auto Loan [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of contracts | number | 4 | 7 | ||
Financing Receivable Modifications Pre Modification Recorded Investment | $ 66 | $ 111 | ||
Pre Modification Weighted Average Rate | 6.39% | 7.41% | ||
Pre Modification Weighted Average Term | 61 months | 67 months | ||
Financing Receivable Modifications Post Modification Recorded Investment | $ 66 | $ 113 | ||
Post Modification Weighted Average Rate | 12.91% | 12.48% | ||
Post Modification Weighted Average Term | 37 months | 38 months |
Loans Receivable (Troubled debt
Loans Receivable (Troubled debt restructurings, Rolling Twelve Months) (Details) $ in Thousands | 12 Months Ended | |
Jun. 30, 2017USD ($)number | Jun. 30, 2016USD ($)number | |
Mortgage Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | number | 22 | 84 |
Recored Investment | $ | $ 2,293 | $ 9,869 |
Commercial Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | number | 5 | 0 |
Recored Investment | $ | $ 563 | $ 0 |
Consumer Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | number | 17 | 7 |
Recored Investment | $ | $ 156 | $ 134 |
Auto [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | number | 0 | 1 |
Recored Investment | $ | $ 0 | $ 17 |
Loans Receivable (Credit Qualit
Loans Receivable (Credit Quality Indicator of loans) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 4,169,896 | $ 4,245,364 |
Financing Receivable, Individually Evaluated for Impairment | 58,089 | 54,289 |
Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 3,091,605 | 3,046,270 |
Financing Receivable, Individually Evaluated for Impairment | 144,370 | 144,789 |
Commercial Secured [Member] | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 767,796 | 773,663 |
Pass | 669,333 | 678,819 |
Special Mention | 33,060 | 42,389 |
Substandard | 19,206 | 4,832 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 46,197 | 47,623 |
Commercial Secured [Member] | Commercial Acquired loans (under ASC 310-20) [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 2,233 | 2,533 |
Pass | 850 | 905 |
Special Mention | 298 | 337 |
Substandard | 324 | 143 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 761 | 1,148 |
Corporate | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 226,979 | 242,770 |
Pass | 210,369 | 226,768 |
Special Mention | 14,640 | 16,002 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 1,970 | 0 |
Institutional | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 47,060 | 26,800 |
Pass | 34,882 | 16,067 |
Special Mention | 0 | 9,090 |
Substandard | 10,675 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 1,503 | 1,643 |
Middle Market | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 228,806 | 234,981 |
Pass | 189,754 | 194,913 |
Special Mention | 9,624 | 9,437 |
Substandard | 3,640 | 514 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 25,788 | 30,117 |
Retail | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 246,252 | 249,728 |
Pass | 215,629 | 221,687 |
Special Mention | 8,796 | 7,860 |
Substandard | 4,891 | 4,318 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 16,936 | 15,863 |
Retail | Commercial Acquired loans (under ASC 310-20) [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 126 | 143 |
Pass | 0 | 0 |
Special Mention | 0 | 0 |
Substandard | 126 | 143 |
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 | 2,916 | 2,989 |
Pass | 2,916 | 2,989 |
Special Mention | 0 | 0 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Floor Plan | Commercial Acquired loans (under ASC 310-20) [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 2,107 | 2,390 |
Pass | 850 | 905 |
Special Mention | 298 | 337 |
Substandard | 198 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 761 | 1,148 |
Real Estate | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 15,783 | 16,395 |
Pass | 15,783 | 16,395 |
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 | 503,048 | 504,203 |
Pass | 475,096 | 477,975 |
Special Mention | 15,343 | 19,795 |
Substandard | 1,478 | 917 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 11,131 | 5,516 |
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 | 3,117 | 3,029 |
Pass | 3,109 | 3,014 |
Special Mention | 0 | 0 |
Substandard | 8 | 13 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 2 |
Corporate | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 161,839 | 136,438 |
Pass | 161,839 | 136,438 |
Special Mention | 0 | 0 |
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 | 128,479 | 180,285 |
Pass | 128,479 | 180,185 |
Special Mention | 0 | 100 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Middle Market | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 86,266 | 81,633 |
Pass | 67,119 | 63,556 |
Special Mention | 11,266 | 16,150 |
Substandard | 124 | 149 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 7,757 | 1,778 |
Retail | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 88,843 | 73,705 |
Pass | 83,331 | 68,529 |
Special Mention | 837 | 731 |
Substandard | 1,301 | 740 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 3,374 | 3,705 |
Retail | Commercial Acquired loans (under ASC 310-20) [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 3,115 | 3,027 |
Pass | 3,109 | 3,014 |
Special Mention | 0 | 0 |
Substandard | 6 | 13 |
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 | 37,621 | 32,142 |
Pass | 34,328 | 29,267 |
Special Mention | 3,240 | 2,814 |
Substandard | 53 | 28 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 33 |
Floor Plan | Commercial Acquired loans (under ASC 310-20) [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 2 | 2 |
Pass | 0 | 0 |
Special Mention | 0 | 0 |
Substandard | 2 | 0 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 2 |
Total Commercial subject to risk rating [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 1,276,194 | 1,283,428 |
Pass | 1,148,388 | 1,160,713 |
Special Mention | 48,701 | 62,521 |
Substandard | 21,016 | 5,905 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 58,089 | 54,289 |
Total Commercial subject to risk rating [Member] | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 1,270,844 | 1,277,866 |
Pass | 1,144,429 | 1,156,794 |
Special Mention | 48,403 | 62,184 |
Substandard | 20,684 | 5,749 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 57,328 | 53,139 |
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 | 5,350 | 5,562 |
Pass | 3,959 | 3,919 |
Special Mention | 298 | 337 |
Substandard | 332 | 156 |
Doubtful | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | $ 761 | $ 1,150 |
Loans Receivable (Risk category
Loans Receivable (Risk category of gross loans not subject to risk rating ) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Not Subject To Risk Rating [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 4,169,896 | $ 4,245,364 |
Financing Receivable, Individually Evaluated for Impairment | 58,089 | 54,289 |
Loans, Not Subject To Risk Ratings [Member] | ||
Not Subject To Risk Rating [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 1,884,655 | 1,854,292 |
0 - 29 Days Past Due | 1,645,072 | 1,603,198 |
30 - 59 Days Past Due | 54,479 | 52,977 |
60 - 89 Days Past Due | 37,828 | 37,908 |
90-119 Days Past Due | 13,497 | 17,142 |
120 - 364 Days Past Due | 18,346 | 20,406 |
365+ Days Past Due | 28,391 | 31,011 |
Financing Receivable, Individually Evaluated for Impairment | 87,042 | 91,650 |
Originated loans, not subject to risk rating [Member] | ||
Not Subject To Risk Rating [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 1,820,761 | 1,768,404 |
0 - 29 Days Past Due | 1,586,727 | 1,524,827 |
30 - 59 Days Past Due | 51,235 | 48,541 |
60 - 89 Days Past Due | 36,384 | 36,170 |
90-119 Days Past Due | 13,051 | 16,479 |
120 - 364 Days Past Due | 17,931 | 19,726 |
365+ Days Past Due | 28,391 | 31,011 |
Financing Receivable, Individually Evaluated for Impairment | 87,042 | 91,650 |
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 | 699,290 | 721,494 |
0 - 29 Days Past Due | 547,109 | 554,573 |
30 - 59 Days Past Due | 1,882 | 2,529 |
60 - 89 Days Past Due | 13,870 | 15,348 |
90-119 Days Past Due | 5,548 | 8,953 |
120 - 364 Days Past Due | 15,468 | 17,434 |
365+ Days Past Due | 28,371 | 31,007 |
Financing Receivable, Individually Evaluated for Impairment | 87,042 | 91,650 |
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 | 566,144 | 585,089 |
0 - 29 Days Past Due | 512,945 | 518,791 |
30 - 59 Days Past Due | 242 | 225 |
60 - 89 Days Past Due | 11,197 | 13,169 |
90-119 Days Past Due | 3,665 | 5,759 |
120 - 364 Days Past Due | 9,839 | 11,431 |
365+ Days Past Due | 17,427 | 20,047 |
Financing Receivable, Individually Evaluated for Impairment | 10,829 | 15,667 |
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 | 47,781 | 50,285 |
0 - 29 Days Past Due | 42,873 | 44,248 |
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 1,346 | 2,095 |
90-119 Days Past Due | 372 | 368 |
120 - 364 Days Past Due | 585 | 1,315 |
365+ Days Past Due | 1,972 | 1,552 |
Financing Receivable, Individually Evaluated for Impairment | 633 | 707 |
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 | 86,141 | 90,707 |
0 - 29 Days Past Due | 75,434 | 78,501 |
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 3,023 | 3,712 |
90-119 Days Past Due | 744 | 1,767 |
120 - 364 Days Past Due | 3,103 | 2,675 |
365+ Days Past Due | 2,077 | 2,100 |
Financing Receivable, Individually Evaluated for Impairment | 1,760 | 1,952 |
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 | 45,933 | 50,009 |
0 - 29 Days Past Due | 39,918 | 43,177 |
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 2,247 | 1,952 |
90-119 Days Past Due | 591 | 561 |
120 - 364 Days Past Due | 1,421 | 1,024 |
365+ Days Past Due | 1,257 | 2,181 |
Financing Receivable, Individually Evaluated for Impairment | 499 | 1,114 |
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 | 64,841 | 69,300 |
0 - 29 Days Past Due | 55,454 | 57,271 |
30 - 59 Days Past Due | 0 | 82 |
60 - 89 Days Past Due | 1,523 | 2,397 |
90-119 Days Past Due | 972 | 353 |
120 - 364 Days Past Due | 1,585 | 2,210 |
365+ Days Past Due | 2,852 | 3,410 |
Financing Receivable, Individually Evaluated for Impairment | 2,455 | 3,577 |
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 | 71,194 | 76,729 |
0 - 29 Days Past Due | 59,629 | 61,547 |
30 - 59 Days Past Due | 0 | 83 |
60 - 89 Days Past Due | 1,447 | 1,439 |
90-119 Days Past Due | 524 | 865 |
120 - 364 Days Past Due | 1,462 | 2,330 |
365+ Days Past Due | 5,325 | 6,459 |
Financing Receivable, Individually Evaluated for Impairment | 2,807 | 4,006 |
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 | 132,866 | 139,860 |
0 - 29 Days Past Due | 123,813 | 127,375 |
30 - 59 Days Past Due | 242 | 60 |
60 - 89 Days Past Due | 1,427 | 1,451 |
90-119 Days Past Due | 340 | 1,459 |
120 - 364 Days Past Due | 1,251 | 1,667 |
365+ Days Past Due | 3,279 | 3,584 |
Financing Receivable, Individually Evaluated for Impairment | 2,514 | 4,264 |
Originated loans, not subject to risk rating [Member] | Originated In Years 2014, 2015, 2016 and 2017 [Member] | ||
Not Subject To Risk Rating [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 117,388 | 108,199 |
0 - 29 Days Past Due | 115,824 | 106,672 |
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 184 | 123 |
90-119 Days Past Due | 122 | 386 |
120 - 364 Days Past Due | 432 | 210 |
365+ Days Past Due | 665 | 761 |
Financing Receivable, Individually Evaluated for Impairment | 161 | 47 |
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 | 20,475 | 22,859 |
0 - 29 Days Past Due | 16,009 | 17,631 |
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 161 | 498 |
90-119 Days Past Due | 29 | 366 |
120 - 364 Days Past Due | 895 | 1,263 |
365+ Days Past Due | 3,381 | 3,101 |
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 | 103,110 | 103,528 |
0 - 29 Days Past Due | 17,823 | 17,814 |
30 - 59 Days Past Due | 1,640 | 2,304 |
60 - 89 Days Past Due | 2,512 | 1,681 |
90-119 Days Past Due | 471 | 388 |
120 - 364 Days Past Due | 958 | 1,599 |
365+ Days Past Due | 3,493 | 3,759 |
Financing Receivable, Individually Evaluated for Impairment | 76,213 | 75,983 |
Originated loans, not subject to risk rating [Member] | Total Traditional, non-traditional and loss mitigation program [Member] | ||
Not Subject To Risk Rating [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 689,729 | 711,476 |
0 - 29 Days Past Due | 546,777 | 554,236 |
30 - 59 Days Past Due | 1,882 | 2,529 |
60 - 89 Days Past Due | 13,870 | 15,348 |
90-119 Days Past Due | 4,165 | 6,513 |
120 - 364 Days Past Due | 11,692 | 14,293 |
365+ Days Past Due | 24,301 | 26,907 |
Financing Receivable, Individually Evaluated for Impairment | 87,042 | 91,650 |
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 | 332 | 337 |
0 - 29 Days Past Due | 332 | 337 |
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 | 0 |
365+ Days Past Due | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Originated loans, not subject to risk rating [Member] | GNMA's Buy Back Option related | ||
Not Subject To Risk Rating [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 9,229 | 9,681 |
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 | 1,383 | 2,440 |
120 - 364 Days Past Due | 3,776 | 3,141 |
365+ Days Past Due | 4,070 | 4,100 |
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 | 314,267 | 290,515 |
0 - 29 Days Past Due | 306,991 | 283,761 |
30 - 59 Days Past Due | 3,439 | 3,298 |
60 - 89 Days Past Due | 2,056 | 1,808 |
90-119 Days Past Due | 1,322 | 1,273 |
120 - 364 Days Past Due | 457 | 371 |
365+ Days Past Due | 2 | 4 |
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 | 27,674 | 26,358 |
0 - 29 Days Past Due | 26,308 | 25,023 |
30 - 59 Days Past Due | 442 | 527 |
60 - 89 Days Past Due | 288 | 283 |
90-119 Days Past Due | 234 | 191 |
120 - 364 Days Past Due | 402 | 334 |
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 | 229 | 207 |
0 - 29 Days Past Due | 167 | 174 |
30 - 59 Days Past Due | 29 | 16 |
60 - 89 Days Past Due | 13 | 12 |
90-119 Days Past Due | 5 | 1 |
120 - 364 Days Past Due | 13 | 4 |
365+ Days Past Due | 2 | 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 | 2,276 | 2,404 |
0 - 29 Days Past Due | 2,188 | 2,327 |
30 - 59 Days Past Due | 59 | 41 |
60 - 89 Days Past Due | 0 | 4 |
90-119 Days Past Due | 0 | 3 |
120 - 364 Days Past Due | 29 | 25 |
365+ Days Past Due | 0 | 4 |
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 | 268,968 | 246,272 |
0 - 29 Days Past Due | 263,427 | 241,227 |
30 - 59 Days Past Due | 2,693 | 2,474 |
60 - 89 Days Past Due | 1,752 | 1,489 |
90-119 Days Past Due | 1,083 | 1,074 |
120 - 364 Days Past Due | 13 | 8 |
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 | 15,120 | 15,274 |
0 - 29 Days Past Due | 14,901 | 15,010 |
30 - 59 Days Past Due | 216 | 240 |
60 - 89 Days Past Due | 3 | 20 |
90-119 Days Past Due | 0 | 4 |
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 | 807,204 | 756,395 |
0 - 29 Days Past Due | 732,627 | 686,493 |
30 - 59 Days Past Due | 45,914 | 42,714 |
60 - 89 Days Past Due | 20,458 | 19,014 |
90-119 Days Past Due | 6,181 | 6,253 |
120 - 364 Days Past Due | 2,006 | 1,921 |
365+ Days Past Due | 18 | 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 | 63,894 | 85,888 |
0 - 29 Days Past Due | 58,345 | 78,371 |
30 - 59 Days Past Due | 3,244 | 4,436 |
60 - 89 Days Past Due | 1,444 | 1,738 |
90-119 Days Past Due | 446 | 663 |
120 - 364 Days Past Due | 415 | 680 |
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 | 30,233 | 32,862 |
0 - 29 Days Past Due | 28,675 | 30,868 |
30 - 59 Days Past Due | 809 | 784 |
60 - 89 Days Past Due | 213 | 383 |
90-119 Days Past Due | 186 | 248 |
120 - 364 Days Past Due | 350 | 579 |
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 | 27,574 | 30,093 |
0 - 29 Days Past Due | 26,206 | 28,281 |
30 - 59 Days Past Due | 676 | 736 |
60 - 89 Days Past Due | 203 | 369 |
90-119 Days Past Due | 181 | 227 |
120 - 364 Days Past Due | 308 | 480 |
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 | 2,659 | 2,769 |
0 - 29 Days Past Due | 2,469 | 2,587 |
30 - 59 Days Past Due | 133 | 48 |
60 - 89 Days Past Due | 10 | 14 |
90-119 Days Past Due | 5 | 21 |
120 - 364 Days Past Due | 42 | 99 |
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 | 33,661 | 53,026 |
0 - 29 Days Past Due | 29,670 | 47,503 |
30 - 59 Days Past Due | 2,435 | 3,652 |
60 - 89 Days Past Due | 1,231 | 1,355 |
90-119 Days Past Due | 260 | 415 |
120 - 364 Days Past Due | 65 | 101 |
365+ Days Past Due | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | $ 0 | $ 0 |
Allowance for Loan and Lease 69
Allowance for Loan and Lease Losses (Narrative) (Details) $ in Millions | Jul. 01, 2017USD ($) |
Financing Receivable, Recorded Investment [Line Items] | |
Acquired Municipal Loans Scheduled Principal Payments | $ 5.2 |
Allowance for Loan and Lease 70
Allowance for Loan and Lease Losses (Composition of the Company's allowance for loan and lease losses) (Details) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | $ 132,295,000 | $ 115,937,000 |
Acquired BBVAPR loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 40,842,000 | 35,356,000 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 3,348,000 | 4,300,000 |
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 | 41,000 | 169,000 |
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 | 2,623,000 | 3,028,000 |
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 | 684,000 | 1,103,000 |
Acquired BBVAPR accounted under ASC 310-30 [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 37,494,000 | 31,056,000 |
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 | 4,141,000 | 2,682,000 |
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 | 25,614,000 | 23,452,000 |
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 | 7,739,000 | 4,922,000 |
Eurobank Acquired Loans | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 21,787,000 | 21,281,000 |
Originated Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 69,666,000 | 59,300,000 |
Originated Loan [Member] | Mortgage Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 18,664,000 | 17,344,000 |
Originated Loan [Member] | Commercial Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 17,279,000 | 8,995,000 |
Originated Loan [Member] | Consumer Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 14,981,000 | 13,067,000 |
Originated Loan [Member] | Auto and Leasing [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 18,742,000 | 19,463,000 |
Originated Loan [Member] | Unallocated [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 0 | 431,000 |
Acquired loans [Member] | Eurobank Acquired Loans | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 21,787,000 | 21,281,000 |
Acquired loans [Member] | Eurobank Acquired Loans | Consumer Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 5,000 | 6,000 |
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 | 13,651,000 | 11,947,000 |
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 | $ 8,131,000 | $ 9,328,000 |
Allowance for Loan and Lease 71
Allowance for Loan and Lease Losses (Allowance for loan and lease losses) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Provision For Loan And Lease Losses | $ 26,536 | $ 14,445 | $ 44,190 | $ 28,234 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 3,615 | 4,993 | 4,300 | 5,542 |
Charge-offs | 1,102 | 1,596 | 2,271 | 3,152 |
Recoveries | 894 | 542 | 1,411 | 1,253 |
Provision For Loan And Lease Losses | (59) | 548 | (92) | 844 |
Balance at end of period | 3,348 | 4,487 | 3,348 | 4,487 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Commercial Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 183 | 23 | 169 | 26 |
Charge-offs | 126 | 12 | 132 | 19 |
Recoveries | 2 | 8 | 3 | 40 |
Provision For Loan And Lease Losses | (18) | 2 | 1 | (26) |
Balance at end of period | 41 | 21 | 41 | 21 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Consumer Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 2,591 | 3,243 | 3,028 | 3,429 |
Charge-offs | 771 | 1,013 | 1,656 | 1,825 |
Recoveries | 295 | 88 | 359 | 169 |
Provision For Loan And Lease Losses | 508 | 684 | 892 | 1,229 |
Balance at end of period | 2,623 | 3,002 | 2,623 | 3,002 |
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 | 841 | 1,727 | 1,103 | 2,087 |
Charge-offs | 205 | 571 | 483 | 1,308 |
Recoveries | 597 | 446 | 1,049 | 1,044 |
Provision For Loan And Lease Losses | (549) | (138) | (985) | (359) |
Balance at end of period | 684 | 1,464 | 684 | 1,464 |
Originated Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 60,483 | 113,238 | 59,300 | 112,626 |
Charge-offs | 18,790 | 13,118 | 32,945 | 26,480 |
Recoveries | 5,155 | 3,640 | 8,760 | 6,954 |
Provision For Loan And Lease Losses | 22,818 | 9,052 | 34,551 | 19,712 |
Balance at end of period | 69,666 | 112,812 | 69,666 | 112,812 |
Originated Loan [Member] | Mortgage Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 18,578 | 18,784 | 17,344 | 18,352 |
Charge-offs | 2,162 | 1,374 | 4,541 | 3,036 |
Recoveries | 63 | 36 | 119 | 181 |
Provision For Loan And Lease Losses | 2,185 | 1,091 | 5,742 | 3,040 |
Balance at end of period | 18,664 | 18,537 | 18,664 | 18,537 |
Originated Loan [Member] | Commercial Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 9,888 | 64,206 | 8,995 | 64,791 |
Charge-offs | 4,841 | 833 | 5,697 | 1,844 |
Recoveries | 136 | 228 | 226 | 316 |
Provision For Loan And Lease Losses | 12,096 | (457) | 13,755 | (119) |
Balance at end of period | 17,279 | 63,144 | 17,279 | 63,144 |
Originated Loan [Member] | Consumer Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 13,394 | 11,414 | 13,067 | 11,197 |
Charge-offs | 4,012 | 2,811 | 7,368 | 5,138 |
Recoveries | 780 | 133 | 945 | 235 |
Provision For Loan And Lease Losses | 4,819 | 3,035 | 8,337 | 5,477 |
Balance at end of period | 14,981 | 11,771 | 14,981 | 11,771 |
Originated Loan [Member] | Leasing [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 18,621 | 18,716 | 19,463 | 18,261 |
Charge-offs | 7,775 | 8,100 | 15,339 | 16,462 |
Recoveries | 4,176 | 3,243 | 7,470 | 6,222 |
Provision For Loan And Lease Losses | 3,720 | 5,400 | 7,148 | 11,238 |
Balance at end of period | 18,742 | 19,259 | 18,742 | 19,259 |
Originated Loan [Member] | Unallocated Financing Receivables | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 2 | 118 | 431 | 25 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision For Loan And Lease Losses | (2) | (17) | (431) | 76 |
Balance at end of period | 0 | 101 | 0 | 101 |
Acquired loans [Member] | Acquired BBVAPR accounted under ASC 310-30 [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 34,930 | 27,747 | 31,056 | 25,785 |
Charge-offs | 216 | 0 | 282 | |
Provision For Loan And Lease Losses | 3,365 | 3,814 | 7,696 | 5,842 |
Allowance de-recognition from new policy | (801) | (8,544) | (1,258) | (8,544) |
Balance at end of period | 37,494 | 22,801 | 37,494 | 22,801 |
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 | 3,573 | 1,762 | 2,682 | 1,678 |
Charge-offs | 14 | 0 | 14 | |
Provision For Loan And Lease Losses | 630 | (163) | 1,552 | (79) |
Allowance de-recognition from new policy | (62) | 0 | (93) | 0 |
Balance at end of period | 4,141 | 1,585 | 4,141 | 1,585 |
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 | 23,528 | 20,430 | 23,452 | 21,245 |
Charge-offs | 0 | 0 | 66 | |
Provision For Loan And Lease Losses | 2,735 | 3,977 | 2,958 | 3,228 |
Allowance de-recognition from new policy | (649) | (8,544) | (796) | (8,544) |
Balance at end of period | 25,614 | 15,863 | 25,614 | 15,863 |
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 | 7,829 | 5,555 | 4,922 | 2,862 |
Charge-offs | 202 | 0 | 202 | |
Provision For Loan And Lease Losses | 0 | 0 | 3,186 | 2,693 |
Allowance de-recognition from new policy | (90) | 0 | (369) | 0 |
Balance at end of period | $ 7,739 | $ 5,353 | $ 7,739 | $ 5,353 |
Allowance for Loan and Lease 72
Allowance for Loan and Lease Losses (Gross Loan and Allowance for loan and lease losses) (Details) - USD ($) | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable, Individually Evaluated for Impairment | $ 58,089,000 | $ 54,289,000 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 4,169,896,000 | 4,245,364,000 | ||||
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 0 | 141,000 | ||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 3,348,000 | 4,159,000 | ||||
Financing Receivable, Allowance for Credit Losses | 3,348,000 | $ 3,615,000 | 4,300,000 | $ 4,487,000 | $ 4,993,000 | $ 5,542,000 |
Financing Receivable, Individually Evaluated for Impairment | 761,000 | 1,150,000 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 68,483,000 | 90,300,000 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 69,244,000 | 91,450,000 | ||||
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 Individually Evaluated For Impairment1 | 0 | 141,000 | ||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 41,000 | 28,000 | ||||
Financing Receivable, Allowance for Credit Losses | 41,000 | 183,000 | 169,000 | 21,000 | 23,000 | 26,000 |
Financing Receivable, Individually Evaluated for Impairment | 761,000 | 1,150,000 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 4,589,000 | 4,412,000 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 5,350,000 | 5,562,000 | ||||
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 Individually Evaluated For Impairment1 | 0 | 0 | ||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 2,623,000 | 3,028,000 | ||||
Financing Receivable, Allowance for Credit Losses | 2,623,000 | 2,591,000 | 3,028,000 | 3,002,000 | 3,243,000 | 3,429,000 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 30,233,000 | 32,862,000 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 30,233,000 | 32,862,000 | ||||
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 Individually Evaluated For Impairment1 | 0 | 0 | ||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 684,000 | 1,103,000 | ||||
Financing Receivable, Allowance for Credit Losses | 684,000 | 1,103,000 | 1,464,000 | 1,727,000 | ||
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 33,661,000 | 53,026,000 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 33,661,000 | 53,026,000 | ||||
Acquired BBVAPR accounted under ASC 310-30 [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 870,568,000 | 951,794,000 | ||||
Acquired BBVAPR accounted under ASC 310-30 [Member] | Mortgage Loan [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 544,325,000 | 569,253,000 | ||||
Acquired BBVAPR accounted under ASC 310-30 [Member] | Commercial Loan [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 266,002,000 | 292,564,000 | ||||
Acquired BBVAPR accounted under ASC 310-30 [Member] | Consumer Loan [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 2,163,000 | 4,301,000 | ||||
Originated Loan [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 10,570,000 | 9,387,000 | ||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 59,096,000 | 49,913,000 | ||||
Financing Receivable, Allowance for Credit Losses | 69,666,000 | 60,483,000 | 59,300,000 | 112,812,000 | 113,238,000 | 112,626,000 |
Financing Receivable, Individually Evaluated for Impairment | 144,370,000 | 144,789,000 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 2,947,235,000 | 2,901,481,000 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 3,091,605,000 | 3,046,270,000 | ||||
Originated Loan [Member] | Mortgage Loan [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 8,630,000 | 7,761,000 | ||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 10,034,000 | 9,583,000 | ||||
Financing Receivable, Allowance for Credit Losses | 18,664,000 | 18,578,000 | 17,344,000 | 18,537,000 | 18,784,000 | 18,352,000 |
Financing Receivable, Individually Evaluated for Impairment | 87,042,000 | 91,650,000 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 612,248,000 | 629,844,000 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 699,290,000 | 721,494,000 | ||||
Originated Loan [Member] | Commercial Loan [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 1,940,000 | 1,626,000 | ||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 15,339,000 | 7,369,000 | ||||
Financing Receivable, Allowance for Credit Losses | 17,279,000 | 9,888,000 | 8,995,000 | 63,144,000 | 64,206,000 | 64,791,000 |
Financing Receivable, Individually Evaluated for Impairment | 57,328,000 | 53,139,000 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 1,213,516,000 | 1,224,727,000 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 1,270,844,000 | 1,277,866,000 | ||||
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 | 14,981,000 | 13,067,000 | ||||
Financing Receivable, Allowance for Credit Losses | 14,981,000 | 13,394,000 | 13,067,000 | 11,771,000 | 11,414,000 | 11,197,000 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 314,267,000 | 290,515,000 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 314,267,000 | 290,515,000 | ||||
Originated Loan [Member] | Finance Leases Portfolio Segment | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable, Allowance for Credit Losses | 18,742,000 | 18,621,000 | 19,463,000 | 19,259,000 | 18,716,000 | 18,261,000 |
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 | 18,742,000 | 19,463,000 | ||||
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 807,204,000 | 756,395,000 | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 807,204,000 | 756,395,000 | ||||
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 | 0 | 431,000 | ||||
Financing Receivable, Allowance for Credit Losses | 0 | $ 2,000 | 431,000 | $ 101,000 | $ 118,000 | $ 25,000 |
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 73
Allowance for Loan and Lease Losses (Allowance for Acquired Eurobank Loan and Lease Losses) (Details) - Eurobank Acquired Loans - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Loan Receivable Type | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at beginning of period | $ 22,006 | $ 92,293 | $ 21,281 | $ 90,178 |
Provision for loan and lease losses, net | 412 | 1,031 | 2,032 | 1,836 |
Charge-offs | 951 | 134 | ||
FDIC Indemnification Asset Additional Estimated Losses Recoveries | 2,395 | |||
Allowance de-recognition from new policy | (631) | (72,159) | (1,526) | (72,159) |
Balance at end of period | 21,787 | 22,116 | 21,787 | 22,116 |
Loans secured by 1-4 family residential properties, covered [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at beginning of period | 14,168 | 23,961 | 11,947 | 22,570 |
Provision for loan and lease losses, net | 474 | 237 | 2,872 | 184 |
Charge-offs | 951 | 0 | ||
FDIC Indemnification Asset Additional Estimated Losses Recoveries | 2,395 | |||
Allowance de-recognition from new policy | (991) | (14,133) | (1,168) | (14,133) |
Balance at end of period | 13,651 | 11,016 | 13,651 | 11,016 |
Commercial | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at beginning of period | 7,833 | 68,089 | 9,328 | 67,365 |
Provision for loan and lease losses, net | (62) | 801 | (840) | 1,659 |
Charge-offs | 0 | 134 | ||
FDIC Indemnification Asset Additional Estimated Losses Recoveries | 0 | |||
Allowance de-recognition from new policy | 360 | (57,794) | (357) | (57,794) |
Balance at end of period | 8,131 | 11,096 | 8,131 | 11,096 |
Consumer Loan [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at beginning of period | 5 | 243 | 6 | 243 |
Provision for loan and lease losses, net | 0 | (7) | 0 | (7) |
Charge-offs | 0 | 0 | ||
FDIC Indemnification Asset Additional Estimated Losses Recoveries | 0 | |||
Allowance de-recognition from new policy | 0 | (232) | (1) | (232) |
Balance at end of period | $ 5 | $ 4 | $ 5 | $ 4 |
FDIC Indemnification Indemnific
FDIC Indemnification Indemnification Asset and True-up Payment Obligation (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Mar. 31, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
FDIC-Assisted Acquisition [Abstract] | |||||
FDIC indemnification asset, expense | $ 0 | $ 1,405 | $ 1,403 | $ (4,269) | |
FDIC shared-loss expense, net | $ 0 | $ 3,420 | (1,403) | 7,449 | |
(Repayment to) reimbursement to the FDIC for the termination of shared-loss agreements | $ 10,100 | $ (10,125) | $ 738 |
FDIC Indemnification Asset an75
FDIC Indemnification Asset and True-up Payment Obligation (FDIC Indemnification Asset Roll Forward) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Mar. 31, 2016 | |
FDIC Indemnification Asset [Roll Forward] | |||||
Balance | $ 0 | $ 20,923,000 | $ 14,411,000 | $ 22,599,000 | |
Shared-loss agreements reimbursements expected from the FDIC | 0 | (332,000) | 0 | (737,000) | |
Increase (decrease) in expected credit losses to be covered under shared-loss agreements, net | 0 | 951,000 | 0 | 2,395,000 | |
FDIC indemnification asset, expense | 0 | (1,405,000) | (1,403,000) | 4,269,000 | |
Final settlement with the FDIC on commercial loans | 0 | 0 | 0 | 0 | |
Net (reimbursements) expenses incurred under shared-loss agreements | 0 | (1,711,000) | 0 | (1,562,000) | |
Shared-loss termination settlement | (15,814,000) | (15,814,000) | $ 0 | ||
Balance | 0 | 18,426,000 | 0 | 18,426,000 | |
True-up payment obligation [Roll Forward] | |||||
Balance | 0 | 25,235,000 | 26,786,000 | 24,658,000 | |
Change in true-up payment obligation expense | 0 | 537,000 | 0 | 1,114,000 | |
Shared-loss termination settlement, liability | 0 | 0 | (26,786,000) | 0 | |
Balance | $ 0 | $ 25,772,000 | $ 0 | $ 25,772,000 |
FDIC Indemnification Asset an76
FDIC Indemnification Asset and True-up Payment Obligation (FDIC Indemnification Expense) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Fdic Shared Loss Expense [Abstract] | ||||
FDIC indemnification asset, expense | $ 0 | $ (1,405) | $ (1,403) | $ 4,269 |
Change in true-up payment obligation expense | 0 | (537) | 0 | (1,114) |
Reimbursement to FDIC for recoveries | 0 | (1,478) | 0 | (2,066) |
Final settlement with the FDIC on commercial loans | 0 | 0 | 0 | 0 |
FDIC shared-loss expense, net | $ 0 | $ (3,420) | $ 1,403 | $ (7,449) |
Premises and Equipment (Details
Premises and Equipment (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Property Plant And Equipment Line Items | ||
Total Premises and Equipment, net | $ 69,836 | $ 70,407 |
Servicing Assets (Narratives) (
Servicing Assets (Narratives) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Servicing Assets At Fair Value Line Items | ||
Servicing Asset at Fair Value, Amount | $ 9,866 | $ 9,858 |
Servicing Assets (Changes in se
Servicing Assets (Changes in serving rights at fair value) (Details) $ in Thousands | Jun. 30, 2017USD ($) |
Servicing Asset At Fair Value Amount Roll Forward | |
Fair value | $ 9,858 |
Fair value | $ 9,866 |
Derivative Activities (Narrativ
Derivative Activities (Narratives) (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Unrealized Gain Loss On Derivatives | $ 923 | $ 1,000 |
Derivative Assets | 957 | 1,330 |
Derivative Liabilities | 1,881 | 2,437 |
Derivative, Notional Amount | 135,600 | 136,100 |
Interest Rate Cap [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Derivative Assets | 64 | 143 |
Derivative Liabilities | 65 | 139 |
Derivative, Notional Amount | 135,600 | 136,100 |
Designated as Hedging Instrument [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Derivative Liabilities | 923 | 1,004 |
Not Designated as Hedging Instrument [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Derivative Assets | 893 | 1,187 |
Derivative Liabilities | 893 | 1,187 |
Other derivative | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Derivative Liabilities | $ 0 | $ 107 |
Derivative Activities (Derivati
Derivative Activities (Derivative Assets and Liabilities) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Derivative Assets (Liabilities) at Fair Value | ||
Derivative Assets | $ 957 | $ 1,330 |
Derivative Liabilities | 1,881 | 2,437 |
Designated as Hedging Instrument [Member] | ||
Derivative Assets (Liabilities) at Fair Value | ||
Derivative Liabilities | 923 | 1,004 |
Not Designated as Hedging Instrument [Member] | ||
Derivative Assets (Liabilities) at Fair Value | ||
Derivative Assets | 893 | 1,187 |
Derivative Liabilities | 893 | 1,187 |
Interest Rate Cap [Member] | ||
Derivative Assets (Liabilities) at Fair Value | ||
Derivative Assets | 64 | 143 |
Derivative Liabilities | 65 | 139 |
Other derivative | ||
Derivative Assets (Liabilities) at Fair Value | ||
Derivative Liabilities | $ 0 | $ 107 |
Derivative Activities (Interest
Derivative Activities (Interest rate swap and their term) (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Dec. 31, 2016 | |
Derivative [Line Items] | ||
Notional Amount | $ 135,600 | $ 136,100 |
Interest rate swap designated as cash flow hedges - 1 Month LIBOR | ||
Derivative [Line Items] | ||
Notional Amount | 35,856 | |
Interest rate swap designated as cash flow hedges - 1 Month LIBOR | Rate 2.4210% [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 35,856 | |
Fixed rate | 0.02421% | |
Trade Date | Jul. 3, 2013 | |
Settlement Date | Jul. 3, 2013 | |
Maturity Date | Aug. 1, 2023 |
Derivative Activities (Intere83
Derivative Activities (Interest rate swap not designated as hedging instruments and their term) (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Dec. 31, 2016 | |
Derivative [Line Items] | ||
Notional derivative not designated as an hedging instrument. | $ 135,600 | $ 136,100 |
Derivatives Offered to Clients - 1 Month LIBOR [Member] | Rate 5.51% [Member] | ||
Derivative [Line Items] | ||
Notional derivative not designated as an hedging instrument. | $ 12,500 | |
Fixed rate | 5.505% | |
Settlement Date | Apr. 11, 2009 | |
Maturity Date | Apr. 11, 2019 | |
Mirror Image Derivatives - 1 Month LIBOR [Member] | Rate 5.51% [Member] | ||
Derivative [Line Items] | ||
Notional derivative not designated as an hedging instrument. | $ 12,500 | |
Fixed rate | 5.505% | |
Settlement Date | Apr. 11, 2009 | |
Maturity Date | Apr. 11, 2019 |
Accrued Interest and Other Asse
Accrued Interest and Other Assets (Narratives) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Other assets [Line Items] | ||
Other prepaid expenses | $ 17,117 | $ 17,096 |
Prepaid Taxes | 11,700 | 12,500 |
Core deposit intangible | 3,800 | 4,300 |
Other repossessed assets | 3,225 | 3,224 |
Repossessed auto | 3,000 | 3,000 |
Mortgage tax credits | 6,277 | 6,277 |
Customer Relationships Intangible [Member] | ||
Other assets [Line Items] | ||
Core deposit intangible | $ 1,600 | $ 1,900 |
Accrued Interest Receivable a85
Accrued Interest Receivable and Other Assets (Accrued Interest)(Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Accounts Receivable Net Abstract | ||
Accrued Interest Receivable On Non Acquired Loans | $ 16,835 | $ 16,706 |
Accrued Investment Income Receivable | 2,963 | 3,521 |
Total Interest Receivable | $ 19,798 | $ 20,227 |
Accrued Interest and Other As86
Accrued Interest and Other Assets (Other assets) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Other asset | ||
Other prepaid expenses | $ 17,117 | $ 17,096 |
Other repossessed assets | 3,225 | 3,224 |
Core deposit intangible and customer relationship intangibles | 5,424 | 6,160 |
Mortgage tax credits | 6,277 | 6,277 |
Investment in Statutory Trust | 1,083 | 1,083 |
Accounts receivable and other assets | 33,162 | 46,525 |
Other assets | $ 66,288 | $ 80,365 |
Deposits and Related Interest87
Deposits and Related Interest (Narratives) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Deposits [Abstract] | ||
Weighted Average Rate Domestic Deposit | 0.65% | 0.62% |
Puerto Rico Cash & Money Market Fund Deposits | $ 15,300 | |
Puerto Rico Cash & Money Market Fund Deposits Weighted Average Rate | 0.77% | |
Time Deposits, $250,000 or More | $ 360,900 | $ 344,000 |
Public Fund Time Deposits, $250,000 or more | $ 16,800 | $ 2,100 |
Public Fund Time Deposits Weighted Average Rate, $250,000 or more | 0.63% | 0.50% |
Public funds deposit | $ 123,300 | $ 170,700 |
Public Fund Collateral Investments | 215,800 | 209,200 |
Accrued Interest, Time Deposits | 1,900 | |
Bank Overdrafts | 761 | 575 |
Brokered Certificates of Deposits | 515,600 | 508,400 |
Brokered Money Market Deposit | $ 53,300 | $ 68,000 |
Deposits and Related Interest88
Deposits and Related Interest (Deposits by Components) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Deposits, by Component, Alternative [Abstract] | ||
Noninterest-bearing demand deposit | $ 845,375 | $ 848,502 |
Interest-bearing saving and demand deposits | 2,115,290 | 2,219,452 |
Individual Retirement Account | 238,345 | 265,754 |
Retail certificates of deposists | 607,910 | 563,965 |
Institutional certificates of deposits | 206,855 | 190,419 |
Total Core Deposits | 4,013,775 | 4,088,092 |
Brokered Deposists | 568,911 | 576,395 |
Deposits, Total | $ 4,582,686 | $ 4,664,487 |
Deposits and Related Interest89
Deposits and Related Interest (Interest expense) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Interest Expense Domestic Deposit Liabilities [Abstract] | ||||
Demand and saving deposits | $ 2,939 | $ 3,184 | $ 5,848 | $ 6,026 |
Certificates of Deposits | 4,713 | 4,183 | 9,157 | 8,465 |
Total | $ 7,652 | $ 7,367 | $ 15,005 | $ 14,491 |
Deposits and Related Interest90
Deposits and Related Interest (Maturities of Time Deposits) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Maturities of Time Deposits [Abstract] | ||
Time Deposit Maturities Less Than Three Month | $ 262,406 | $ 277,621 |
Time Deposit Maturities Three To Twelve Month | 590,861 | 534,548 |
Total Time deposits | 853,267 | 812,169 |
Time Deposit Maturities, Year Two | 444,176 | 488,440 |
Time Deposit Maturities, Year Three | 195,287 | 154,545 |
Time Deposit Maturities, Year Four | 38,872 | 29,701 |
Time Deposit Maturities, Year Five | 35,145 | 41,949 |
Certificates of deposit | $ 1,566,747 | $ 1,526,804 |
Borrowings (Narrative) (Details
Borrowings (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | |
Debt Instrument [Line Items] | |||||||
Extinguished and Matured Debt | $ 232,000 | $ 268,000 | |||||
Total Of Debt Matured and ExtinguishedUnder Repurchased Agreement | $ 500,000 | ||||||
Other borrowings | $ 177 | $ 177 | $ 61 | ||||
Subordinated Debt | 36,083 | 36,083 | 36,083 | ||||
Gains Losses On Extinguishment Of Debt | (80) | $ 0 | (80) | $ (12,000) | |||
Due Date 6 2019 Member [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Extinguished and Matured Debt | 25,000 | 25,000 | |||||
Due Date 12 2019 Member [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Extinguished and Matured Debt | 75,000 | 75,000 | |||||
Federal Home Loan Bank Advances [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Loans pledged as collateral to secure FHLB advances | 1,300,000 | 1,300,000 | 1,400,000 | ||||
Additional Borrowing Capacity | 935,500 | $ 935,500 | $ 1,200,000 | ||||
Weighted average period remaining maturity of FHLB advances | 5.2 months | 10.6 months | |||||
Interest Payable | $ 308 | $ 308 | |||||
Minimum amount of qualifying collateral | 110.00% | 110.00% | |||||
Repurchase agreement | |||||||
Debt Instrument [Line Items] | |||||||
Interest Payable | $ 642 | $ 642 | $ 1,500 |
Borrowings (Securities Sold Und
Borrowings (Securities Sold Under Agreement to Repurchase by Counterparties) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Debt Instrument [Line Items] | ||
Borrowings | $ 627,292 | $ 795,354 |
Securities Sold under Agreements to Repurchase [Member] | ||
Debt Instrument [Line Items] | ||
Borrowings | 452,850 | 652,229 |
Fair Value of Underlying Collateral | 483,410 | 700,498 |
Securities Sold under Agreements to Repurchase [Member] | Nomura [Member] | ||
Debt Instrument [Line Items] | ||
Borrowings | 37,001 | 0 |
Fair Value of Underlying Collateral | 38,900 | 0 |
Securities Sold under Agreements to Repurchase [Member] | PR Money Market Market Fund | ||
Debt Instrument [Line Items] | ||
Borrowings | 0 | 70,010 |
Fair Value of Underlying Collateral | 0 | 74,538 |
Securities Sold under Agreements to Repurchase [Member] | Jp Morgan Chase Bank Na [Member] | ||
Debt Instrument [Line Items] | ||
Borrowings | 239,781 | 350,219 |
Fair Value of Underlying Collateral | 257,976 | 376,674 |
Securities Sold under Agreements to Repurchase [Member] | Federal Home Loan Bank | ||
Debt Instrument [Line Items] | ||
Borrowings | 110,000 | 0 |
Fair Value of Underlying Collateral | 115,881 | 0 |
Securities Sold under Agreements to Repurchase [Member] | Credit Suisse Securities LLC [Member] | ||
Debt Instrument [Line Items] | ||
Borrowings | 0 | 232,000 |
Fair Value of Underlying Collateral | 0 | 249,286 |
Securities Sold under Agreements to Repurchase [Member] | Goldman Sachs [Member] | ||
Debt Instrument [Line Items] | ||
Borrowings | 66,068 | 0 |
Fair Value of Underlying Collateral | $ 70,653 | $ 0 |
Borrowings (Repurchase Agreemen
Borrowings (Repurchase Agreements) (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Dec. 31, 2016 | |
Debt Instrument [Line Items] | ||
Borrowing Balance | $ 627,292 | $ 795,354 |
Securities Sold under Agreements to Repurchase [Member] | ||
Debt Instrument [Line Items] | ||
Borrowing Balance | $ 452,850 | $ 652,229 |
Weighted Average Coupon | 1.56% | |
Securities Sold under Agreements to Repurchase [Member] | Due date: 7/3/2017 [Member] | ||
Debt Instrument [Line Items] | ||
Borrowing Balance | $ 37,001 | |
Weighted Average Coupon | 1.65% | |
Settlement Date | Jun. 27, 2017 | |
Investment Repurchase Agreement, Repurchase Date | Jul. 3, 2017 | |
Securities Sold under Agreements to Repurchase [Member] | Due Date: 7/5/2017 [Member] | ||
Debt Instrument [Line Items] | ||
Borrowing Balance | $ 57,281 | |
Weighted Average Coupon | 1.55% | |
Settlement Date | Jun. 28, 2017 | |
Investment Repurchase Agreement, Repurchase Date | Jul. 5, 2017 | |
Securities Sold under Agreements to Repurchase [Member] | Due Date: 7/7/2017 [Member] | ||
Debt Instrument [Line Items] | ||
Borrowing Balance | $ 66,068 | |
Weighted Average Coupon | 1.50% | |
Settlement Date | Jun. 28, 2017 | |
Investment Repurchase Agreement, Repurchase Date | Jul. 7, 2017 | |
Securities Sold under Agreements to Repurchase [Member] | Due Date: 04 29 2018 [Member] | ||
Debt Instrument [Line Items] | ||
Borrowing Balance | $ 182,500 | |
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: 09 03 2019 [Member] | ||
Debt Instrument [Line Items] | ||
Borrowing Balance | $ 50,000 | |
Weighted Average Coupon | 1.72% | |
Settlement Date | Mar. 2, 2017 | |
Investment Repurchase Agreement, Repurchase Date | Sep. 3, 2019 | |
Securities Sold under Agreements to Repurchase [Member] | Due Date: 3/2/2020 [Member] | ||
Debt Instrument [Line Items] | ||
Borrowing Balance | $ 60,000 | |
Weighted Average Coupon | 1.85% | |
Settlement Date | Mar. 2, 2017 | |
Investment Repurchase Agreement, Repurchase Date | Mar. 2, 2020 |
Borrowings (Repurchase Transact
Borrowings (Repurchase Transaction Liability and Market Value of its Underlying Collateral) (Details) - Securities Sold under Agreements to Repurchase [Member] - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Assets Sold Under Agreements To Repurchase Line Items | ||
Assets Sold Under Agreements To Repurchase Repurchase Liability | $ 452,850 | $ 652,229 |
Assets Sold Under Agreements To Repurchase Interest Rate | 1.56% | 2.47% |
Market value of underlying collateral of a repurchase agreement | $ 483,410 | $ 700,498 |
FNMA and FHLMC [Member] | ||
Assets Sold Under Agreements To Repurchase Line Items | ||
Market value of underlying collateral of a repurchase agreement | 483,318 | 575,915 |
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 | 92 | 75,629 |
US Treasury Securities [Member] | ||
Assets Sold Under Agreements To Repurchase Line Items | ||
Market value of underlying collateral of a repurchase agreement | 0 | 48,954 |
Mturity less than 90 Days Member | ||
Assets Sold Under Agreements To Repurchase Line Items | ||
Assets Sold Under Agreements To Repurchase Repurchase Liability | $ 160,350 | $ 349,729 |
Assets Sold Under Agreements To Repurchase Interest Rate | 1.57% | 3.35% |
Market value of underlying collateral of a repurchase agreement | $ 170,851 | $ 372,778 |
Mturity less than 90 Days Member | FNMA and FHLMC [Member] | ||
Assets Sold Under Agreements To Repurchase Line Items | ||
Assets Sold Under Agreements To Repurchase Repurchase Liability | 170,851 | 248,288 |
Mturity less than 90 Days Member | Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | ||
Assets Sold Under Agreements To Repurchase Line Items | ||
Assets Sold Under Agreements To Repurchase Repurchase Liability | 0 | 75,536 |
Mturity less than 90 Days Member | US Treasury Securities [Member] | ||
Assets Sold Under Agreements To Repurchase Line Items | ||
Assets Sold Under Agreements To Repurchase Repurchase Liability | 0 | 48,954 |
Maturity over 90 days | ||
Assets Sold Under Agreements To Repurchase Line Items | ||
Assets Sold Under Agreements To Repurchase Repurchase Liability | $ 292,500 | $ 302,500 |
Assets Sold Under Agreements To Repurchase Interest Rate | 1.56% | 1.44% |
Market value of underlying collateral of a repurchase agreement | $ 312,559 | $ 327,720 |
Maturity over 90 days | FNMA and FHLMC [Member] | ||
Assets Sold Under Agreements To Repurchase Line Items | ||
Assets Sold Under Agreements To Repurchase Repurchase Liability | 312,467 | 327,627 |
Maturity over 90 days | Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | ||
Assets Sold Under Agreements To Repurchase Line Items | ||
Assets Sold Under Agreements To Repurchase Repurchase Liability | 92 | 93 |
Maturity over 90 days | US Treasury Securities [Member] | ||
Assets Sold Under Agreements To Repurchase Line Items | ||
Assets Sold Under Agreements To Repurchase Repurchase Liability | $ 0 | $ 0 |
Borrowings (Advances from the F
Borrowings (Advances from the Federal Home Loan Bank) (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Dec. 31, 2016 | |
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 627,292 | $ 795,354 |
Federal Home Loan Bank Advances [Member] | ||
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 137,232 | |
FHLB, Weighted Average Interest Rate | 1.70% | |
Federal Home Loan Bank Advances [Member] | July 3, 2017 [Member] | Four Million [Member] | ||
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 37,000 | |
FHLB, Weighted Average Interest Rate | 1.24% | |
Settlement Date | Jun. 30, 2017 | |
Maturity Date | Jul. 3, 2017 | |
Federal Home Loan Bank Advances [Member] | July 3, 2017 [Member] | Thirty Six Million [Member] | ||
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 35,856 | |
FHLB, Weighted Average Interest Rate | 1.20% | |
Settlement Date | Jun. 1, 2017 | |
Maturity Date | Jul. 3, 2017 | |
Federal Home Loan Bank Advances [Member] | July 3, 2017 [Member] | Fourty Million [Member] | ||
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 72,856 | |
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] | 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] | Fifty Five Millions [Member] | ||
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 55,000 | |
Federal Home Loan Bank Advances [Member] | July 20, 2020 [Member] | Ten Million [Member] | ||
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 9,376 | |
FHLB, Weighted Average Interest Rate | 2.59% | |
Settlement Date | Jul. 19, 2013 | |
Maturity Date | Jul. 20, 2020 |
Offsetting Arrangements (Assets
Offsetting Arrangements (Assets Offsetting) (Details) - Derivative - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Offsetting Assets [Line Items] | ||
Gross Amount of Recognized Assets | $ 957 | $ 1,330 |
Gross amounts Offset in the Statement of Financial Condition | 0 | 0 |
Net Amount of Assets in Statement of Financial Condition | 957 | 1,330 |
Financial Instruments | 2,027 | 2,003 |
Cash Collateral Received | 0 | 0 |
Net Amount | $ (1,070) | $ (673) |
Offsetting Arrangement (Liabili
Offsetting Arrangement (Liabilities Offsetting) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Offsetting Liabilities [Line Items] | ||
Gross amount of Recognized Liabilities | $ 454,731 | $ 654,666 |
Gross amount Offset in the Statement of Financial Condition | 0 | 0 |
Net Amount of Liabilities Presented in the Statement of Financial Condition | 454,731 | 654,666 |
Financial Instruments | 483,410 | 700,498 |
Cash Collateral Provided | 1,980 | 1,980 |
Net Amount | (30,659) | (47,812) |
Derivative Financial Instruments, Liabilities [Member] | ||
Offsetting Liabilities [Line Items] | ||
Gross amount of Recognized Liabilities | 1,881 | 2,437 |
Gross amount Offset in the Statement of Financial Condition | 0 | 0 |
Net Amount of Liabilities Presented in the Statement of Financial Condition | 1,881 | 2,437 |
Financial Instruments | 0 | 0 |
Cash Collateral Provided | 1,980 | 1,980 |
Net Amount | (99) | 457 |
Securities Loaned or Sold under Agreements to Repurchase | ||
Offsetting Liabilities [Line Items] | ||
Gross amount of Recognized Liabilities | 452,850 | 652,229 |
Gross amount Offset in the Statement of Financial Condition | 0 | 0 |
Net Amount of Liabilities Presented in the Statement of Financial Condition | 452,850 | 652,229 |
Financial Instruments | 483,410 | 700,498 |
Cash Collateral Provided | 0 | 0 |
Net Amount | $ (30,560) | $ (48,269) |
Income Taxes (Narratives) (Deta
Income Taxes (Narratives) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Income Taxes [Abstract] | |||||
Statutary tax rate | 39.00% | 39.00% | |||
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | $ 80 | $ 80 | $ 229 | ||
Deferred Tax Assets, Net | 116,199 | 116,199 | 124,200 | ||
OtherComprehensiveIncomeLossTax | (569) | (983) | |||
Income Tax Expense (Benefit) | 3,993 | $ 5,858 | 13,197 | $ 11,519 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 2,100 | 2,100 | 2,000 | ||
Residual tax effect from OIB's change in applicable tax rate AFS | $ 95 | $ 8 | $ 103 | $ 16 | |
Effective tax rate | 28.80% | 29.00% | |||
International Banking Entity [Member] | |||||
OtherComprehensiveIncomeLossTax | $ 6 | $ 109 |
Income Taxes (Components of inc
Income Taxes (Components of income tax expense (benefit)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract | ||||
Deferred Income Tax Expense (Benefit) | $ 7,570 | $ 3,543 | ||
Income Tax Expense (Benefit) | $ 3,993 | $ 5,858 | $ 13,197 | $ 11,519 |
Income taxes (Effective Income
Income taxes (Effective Income Tax Rate Reconciliation) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
IncomeTaxExpenseBenefitContinuingOperationsIncomeTaxReconciliationAbstract | ||||
Total Income Tax Expense (Benefit) | $ 3,993 | $ 5,858 | $ 13,197 | $ 11,519 |
EffectiveIncomeTaxRateContinuingOperationsTaxRateReconciliationAbstract | ||||
Statutary tax rate | 39.00% | 39.00% | ||
Total Income Tax Expense (Benefit) | 28.80% | 29.00% |
Income Taxes (Components of Def
Income Taxes (Components of Deferred Tax Assets) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Components Of Deferred Tax Liabilities Abstract | ||
Deferred Tax Assets, Net | $ 116,199 | $ 124,200 |
Regulatory Capital Requireme102
Regulatory Capital Requirements (Group's and the Bank's actual capital amounts and ratios) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Group [Member] | ||
Capital [Abstract] | ||
Actual - Total capital | $ 896,927 | $ 876,657 |
Actual - Tier 1 capital | 840,704 | 819,662 |
Actual -Common equity tier 1 capital | 643,607 | 627,733 |
Actual - Tier 1 leverage capital | 840,704 | 819,662 |
Minimum Capital - Total Capital | 351,306 | 357,404 |
Minimum capital - Tier 1 capital | 263,479 | 268,053 |
Minimum capital - Common equity tier 1 capital | 197,609 | 201,040 |
Minimum capital - Tier 1 leverage capital | 245,577 | 252,344 |
Minimum to be well capitalized - Total Capital | 439,132 | 446,756 |
Minimum to be well capitalized - Tier 1 capital | 351,306 | 357,404 |
Minimum to be well capitalized - Common equity tier 1 capital | 285,436 | 290,391 |
Minimum to be well capitalized - Tier 1 leverage | $ 306,971 | $ 315,430 |
Risk Based Ratios [Abstract] | ||
Capital to Risk Weighted Assets | 20.42% | 19.62% |
Tier One Risk Based Capital to Risk Weighted Assets | 19.14% | 18.35% |
Common Equity Tier OneTo Risk Weighted Assets | 14.66% | 14.05% |
Tier One Leverage Capital to Average Assets | 13.69% | 12.99% |
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 | $ 887,024 | $ 857,259 |
Actual - Tier 1 capital | 831,012 | 800,544 |
Actual -Common equity tier 1 capital | 831,012 | 800,544 |
Actual - Tier 1 leverage capital | 831,012 | 800,544 |
Minimum Capital - Total Capital | 351,244 | 356,596 |
Minimum capital - Tier 1 capital | 263,433 | 267,447 |
Minimum capital - Common equity tier 1 capital | 197,575 | 200,585 |
Minimum capital - Tier 1 leverage capital | 244,618 | 251,200 |
Minimum to be well capitalized - Total Capital | 439,055 | 445,745 |
Minimum to be well capitalized - Tier 1 capital | 351,244 | 356,596 |
Minimum to be well capitalized - Common equity tier 1 capital | 285,386 | 289,734 |
Minimum to be well capitalized - Tier 1 leverage | $ 305,773 | $ 314,000 |
Risk Based Ratios [Abstract] | ||
Capital to Risk Weighted Assets | 20.20% | 19.23% |
Tier One Risk Based Capital to Risk Weighted Assets | 18.93% | 17.96% |
Common Equity Tier OneTo Risk Weighted Assets | 18.93% | 17.96% |
Tier One Leverage Capital to Average Assets | 13.59% | 12.75% |
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 Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Equity, Class of Treasury Stock [Line Items] | ||
Stock Repurchase Program Remaining Authorized Repurchase Amount1 | $ 7.7 | |
Stock repurchase program remaining number of shares authorized to be repurchased | 773,085 | |
SharePrice | $ 10 | |
legal surplus | $ 79.5 | $ 76.3 |
Preferred Stock [Member] | ||
Equity, Class of Treasury Stock [Line Items] | ||
Preferred Stock Issue Costs | 13.6 | 13.6 |
Common Stock [Member] | ||
Equity, Class of Treasury Stock [Line Items] | ||
Common Stock Issuance Cost | $ 10.1 | $ 10.1 |
Stockholders' Equity (Shares re
Stockholders' Equity (Shares repurchased under the stock repurchase program) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Equity, Class of Treasury Stock [Line Items] | ||
Treasury Stock, Value | $ 104,502 | $ 104,860 |
Stockholders' Equity (Common sh
Stockholders' Equity (Common shares held in treasury, activity) (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Stockholders' Equity Note [Abstract] | ||
Beginning of period | 8,711,025 | 8,757,960 |
Common shares used for exercise of restricted stock units (Shares) | (32,598) | (45,810) |
End of period | 8,678,427 | 8,712,150 |
Beginning of period | $ 104,860 | $ 105,379 |
Common shares used for exercise of restricted stock units (Value) | (358) | (505) |
End of period | $ 104,502 | $ 104,874 |
Accumulated Other Comprehens106
Accumulated Other Comprehensive Income (Accumulated Comprehensive Income, net of income tax) (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Accumulated Other Comprehensive Income [Line Items] | ||
Accumulated other comprehensive (Loss) income, net of tax, Total | $ (307) | $ 1,596 |
Accumulated Other Comprehensive Income (Loss) [Member] | ||
Accumulated Other Comprehensive Income [Line Items] | ||
Accumulated other comprehensive (Loss) income, net of tax, Total | (307) | 1,596 |
AccumulatedOtherThanTemporaryImpairmentMember | ||
Accumulated Other Comprehensive Income [Line Items] | ||
Unrealized gain on securities available-for-sale which are not other-than-temporarily impaired | 47 | 1,617 |
Income tax effect of unrealized gain on securities available-for-sale | 209 | 592 |
Net unrealized gain on securities available for sale wich are not other than temporarily impaired | 256 | 2,209 |
Accumulated Net Gain Loss From Designated Or Qualifying Cash Flow Hedges [Member] | ||
Accumulated Other Comprehensive Income [Line Items] | ||
Unrealized loss on cash flow hedges | (923) | (1,004) |
Income tax effect of unrealized loss on cash flow hedges | 360 | 391 |
Net unrealized (loss) income on cash flow hedges | $ (563) | $ (613) |
Accumulated Other Comprehens107
Accumulated Other Comprehensive Income (Changes in Other Comprehensive Income by Components) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Net unrealized gains on securities available for sale | ||||
Accumulated Other Comprehensive Income [Line Items] | ||||
Beginning balance | $ 3,850,000 | $ 15,089,000 | $ 2,209,000 | $ 16,924,000 |
Other Comprehensive Income Loss Before Reclassifications Net Of Tax | (3,618,000) | 3,060,000 | (1,911,000) | (1,266,000) |
Reclassification Out Of Accumulated Other Comprehensive Income | 24,000 | (64,000) | (42,000) | 2,427,000 |
Other Comprehensive Income (Loss) Other Net Of Tax | (3,594,000) | 2,996,000 | (1,953,000) | 1,161,000 |
Ending balance | 256,000 | 18,085,000 | 256,000 | 18,085,000 |
Net unrealized loss on cash flow hedges | ||||
Accumulated Other Comprehensive Income [Line Items] | ||||
Beginning balance | (502,000) | (2,805,000) | (613,000) | (2,927,000) |
Other Comprehensive Income Loss Before Reclassifications Net Of Tax | (189,000) | (949,000) | (227,000) | (2,406,000) |
Reclassification Out Of Accumulated Other Comprehensive Income | 128,000 | 1,474,000 | 277,000 | 3,053,000 |
Other Comprehensive Income (Loss) Other Net Of Tax | (61,000) | 525,000 | 50,000 | 647,000 |
Ending balance | (563,000) | (2,280,000) | (563,000) | (2,280,000) |
Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Accumulated Other Comprehensive Income [Line Items] | ||||
Beginning balance | 3,348,000 | 12,284,000 | 1,596,000 | 13,997,000 |
Other Comprehensive Income Loss Before Reclassifications Net Of Tax | (3,807,000) | 2,111,000 | (2,138,000) | (3,672,000) |
Reclassification Out Of Accumulated Other Comprehensive Income | 152,000 | 1,410,000 | 235,000 | 5,480,000 |
Other Comprehensive Income (Loss) Other Net Of Tax | (3,655,000) | 3,521,000 | (1,903,000) | 1,808,000 |
Ending balance | $ (307,000) | $ 15,805,000 | $ (307,000) | $ 15,805,000 |
Accumulated Other Comprehens108
Accumulated Other Comprehensive Income (Reclassifications out of other comprehensive income) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Residual tax effect from OIB's change in applicable tax rate AFS | $ 95,000 | $ 8,000 | $ 103,000 | $ 16,000 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Interest Rate Contract | 128,000 | 1,354,000 | 277,000 | 2,804,000 |
Tax effect from increase in capital gains tax rate, Cash flow hedges | 0 | 120,000 | 0 | 249,000 |
Other-than-temporary impairment amount reclassified from accumulated other comprehensive income | 0 | 0 | 0 | (2,557,000) |
Residual tax effect from OIB's change in applicable tax rate AFS | 95,000 | 8,000 | 103,000 | 16,000 |
Tax effect from increase in capital gains tax rate AFS | (71,000) | (72,000) | (145,000) | (146,000) |
Total | $ 152,000 | $ 1,410,000 | $ 235,000 | $ 5,480,000 |
Earnings Per Common Share (Narr
Earnings Per Common Share (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |||||
Stock Conversion Rate | 86.4225 | 86.4225 | |||
Weighted average stock anti dilutive effect excluded from calculation of earnings per share | 967,041 | 957,743 | 890,472 | 957,783 | |
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 | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Earnings Per Share [Abstract] | ||||
Net income | $ 17,104 | $ 14,339 | $ 32,254 | $ 28,510 |
Non-Convertible Preferred Stock Dividend (Series A,B and D) | (1,629) | (1,629) | (3,256) | (3,256) |
Convertible Preferred Stock Dividend (Series C) | (1,837) | (1,837) | (3,675) | (3,675) |
Income available to common shareholders | 13,638 | 10,873 | 25,323 | 21,579 |
Effect of assumed conversion of convertible preferred stock | 1,837 | 1,837 | 3,675 | 3,675 |
Income available to common sharesholders assuming conversion | $ 15,475 | $ 12,710 | $ 28,998 | $ 25,254 |
Average common shares outstanding | 43,947 | 43,914 | 43,931 | 43,906 |
Average potential common shares options | 15 | 43 | 24 | 37 |
Average potential common shares convertible preferred stock | 7,138 | 7,138 | 7,138 | 7,138 |
Average common shares outstanding and equivalents | 51,100 | 51,095 | 51,093 | 51,081 |
Earnings per common share - basic | $ 0.3 | $ 0.25 | $ 0.58 | $ 0.49 |
Earnings per common share - diluted | $ 0.3 | $ 0.25 | $ 0.57 | $ 0.49 |
Guarantees (Narrative) (Details
Guarantees (Narrative) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Guarantee Obligations [Line Items] | |||||
Acquired standby letters of credit and financial guarantees | $ 13,400,000 | $ 13,400,000 | $ 4,000,000 | ||
Unpaid principal balance of residential subject loans subject to credit recourse | 6,600,000 | 6,600,000 | 20,100,000 | ||
Repurchased GNMA | 66,000 | $ 83,000 | 107,000 | $ 288,000 | |
Liability for estimated credit losses to loans sold with credit recourse | 459,000 | 459,000 | 710,000 | ||
Repurchased loans not subject to credit recourse provision | 1,400,000 | 817,000 | 2,300,000 | 2,300,000 | |
Losses from repurchased loans subject to credit recourse | 254,000 | 92,000 | 354,000 | 111,000 | |
Losses On Repurchased Loan Not Subject To Credit Recourse | 283,000 | $ 329,000 | 590,000 | $ 830,000 | |
Serviced mortgage loans for third parties | 845,700,000 | 845,700,000 | |||
Funds Advanced To Investors Under Servicing Agreements | $ 366,000 | $ 366,000 | $ 334,000 |
Guarantees (Changes in liabilty
Guarantees (Changes in liabilty of estimated loss from credit recourse agreement) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Movement In Guaranteed Benefit Liability Gross Roll Forward | ||||
Balance at beginning of the period | $ 570 | $ 181 | $ 710 | $ 439 |
Net charge-off/terminations | (111) | (19) | (251) | (277) |
Balance at the end of the period | $ 459 | $ 162 | $ 459 | $ 162 |
Commitments (Narratives) (Detai
Commitments (Narratives) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Commitments and Contingencies [Abstract] | |||||
Rent Expenses | $ 2,500 | $ 2,300 | $ 4,500 | $ 4,400 | |
Line of credit reserve | $ 667 | $ 667 | $ 667 |
Commitments (Summarized credit-
Commitments (Summarized credit-related financial instruments) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Commitments and Contingencies [Abstract] | ||
Commitments To Extend Credit | $ 434,051 | $ 492,885 |
Commercial letters credit | 1,501 | 2,721 |
Standby letters of credit and financial guarantees | 13,420 | 4,041 |
Loans sold with recourse | $ 6,640 | $ 20,126 |
Commitments (Future rental comm
Commitments (Future rental commitments under leases) (Details) $ in Thousands | Jun. 30, 2017USD ($) |
Operating Leases, Future Minimum Payments Due [Abstract] | |
2,017 | $ 3,665 |
2,018 | 6,969 |
2,019 | 6,928 |
2,020 | 6,201 |
2,021 | 5,371 |
Thereafter | 7,881 |
Total | $ 37,015 |
Fair Value (Assets and liabilit
Fair Value (Assets and liabilities on recurring and non-recurring basis) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | $ 649,327 | $ 751,484 |
Money Market Funds, at Carrying Value | 6,467 | 5,606 |
Trading Securities | 294 | 347 |
Derivative Assets | 957 | 1,330 |
Servicing Assets | 9,866 | 9,858 |
Derivative liabilities | (1,881) | (2,437) |
Total | 665,030 | 766,188 |
Impaired Commercial Loan | 58,089 | 54,289 |
Foreclosed real estate | 50,223 | 47,520 |
Other repossessed assets | 3,225 | 3,224 |
Total | 111,537 | 105,033 |
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 | 6,467 | 5,606 |
Trading Securities | 0 | 0 |
Derivative Assets | 0 | 0 |
Servicing Assets | 0 | 0 |
Derivative liabilities | 0 | 0 |
Total | 6,467 | 5,606 |
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 | 649,327 | 751,484 |
Money Market Funds, at Carrying Value | 0 | 0 |
Trading Securities | 294 | 347 |
Derivative Assets | 957 | 1,330 |
Servicing Assets | 0 | 0 |
Derivative liabilities | (1,881) | (2,437) |
Total | 648,697 | 750,724 |
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 |
Trading Securities | 0 | 0 |
Derivative Assets | 0 | 0 |
Servicing Assets | 9,866 | 9,858 |
Derivative liabilities | 0 | |
Total | 9,866 | 9,858 |
Impaired Commercial Loan | 58,089 | 54,289 |
Foreclosed real estate | 50,223 | 47,520 |
Other repossessed assets | 3,225 | 3,224 |
Total | 111,537 | 105,033 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 649,327 | 751,484 |
Money Market Funds, at Carrying Value | 6,467 | 5,606 |
Trading Securities | 294 | 347 |
Derivative Assets | 957 | 1,330 |
Servicing Assets | 9,866 | 9,858 |
Derivative liabilities | (1,881) | (2,437) |
Total | 665,030 | |
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 | 6,467 | 5,606 |
Trading Securities | 0 | 0 |
Derivative Assets | 0 | 0 |
Servicing Assets | 0 | 0 |
Derivative liabilities | 0 | 0 |
Total | 6,467 | |
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 | 649,327 | 751,484 |
Money Market Funds, at Carrying Value | 0 | 0 |
Trading Securities | 294 | 347 |
Derivative Assets | 957 | 1,330 |
Servicing Assets | 0 | 0 |
Derivative liabilities | (1,881) | (2,437) |
Total | 648,697 | |
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 |
Trading Securities | 0 | 0 |
Derivative Assets | 0 | 0 |
Servicing Assets | 9,866 | 9,858 |
Derivative liabilities | 0 | 0 |
Total | 9,866 | |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired Commercial Loan | 58,089 | 54,289 |
Foreclosed real estate | 50,223 | 47,520 |
Other repossessed assets | 3,225 | 3,224 |
Total | 111,537 | 105,033 |
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 | 0 |
Other repossessed assets | 0 | 0 |
Total | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired Commercial Loan | 58,089 | 54,289 |
Foreclosed real estate | 50,223 | 47,520 |
Other repossessed assets | 3,225 | 3,224 |
Total | $ 111,537 | $ 105,033 |
Fair Value (Reconciliation of a
Fair Value (Reconciliation of assets and liabilities using significant unobservable inputs (Level 3)) (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance | $ 9,688 | $ 7,845 | $ 9,858 | $ 7,531 |
Gains (losses) included in earnings | (28) | (98) | ||
New instruments acquired | 540 | 717 | 1,074 | 1,275 |
Change due to principal payments | (164) | (121) | (326) | (225) |
Amortization | 8 | 28 | ||
Changes in fair value of servicing assets | (198) | (483) | (740) | (573) |
Balance | 9,866 | 7,938 | 9,866 | 7,938 |
Derivative Financial Instruments, Assets [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance | 0 | 772 | 0 | 1,171 |
Gains (losses) included in earnings | (585) | (984) | ||
New instruments acquired | 0 | 0 | 0 | 0 |
Change due to principal payments | 0 | 0 | 0 | 0 |
Amortization | 0 | 0 | ||
Changes in fair value of servicing assets | 0 | 0 | 0 | 0 |
Balance | 0 | 187 | 0 | 187 |
Servicing Assets [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance | 9,688 | 7,819 | 9,858 | 7,455 |
Gains (losses) included in earnings | 0 | 0 | ||
New instruments acquired | 540 | 717 | 1,074 | 1,275 |
Change due to principal payments | (164) | (121) | (326) | (225) |
Amortization | 0 | 0 | ||
Changes in fair value of servicing assets | (198) | (483) | (740) | (573) |
Balance | 9,866 | 7,932 | 9,866 | 7,932 |
Derivative Financial Instruments, Liabilities [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance | 0 | (746) | 0 | (1,095) |
Gains (losses) included in earnings | 557 | 886 | ||
New instruments acquired | 0 | 0 | 0 | 0 |
Change due to principal payments | 0 | 0 | 0 | 0 |
Amortization | 8 | 28 | ||
Changes in fair value of servicing assets | 0 | 0 | 0 | 0 |
Balance | $ 0 | $ (181) | $ 0 | $ (181) |
Fair Value (Qualitative informa
Fair Value (Qualitative information for assets and liabilities) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2017USD ($) | Jun. 30, 2017USD ($) | |
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 | $ 9,866 | $ 9,866 |
Valuation Technique | Cash flow valuation | |
Servicing Assets [Member] | Cash Flow Valuation Technique [Member] | Minimum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Constant prepayment rate | 4.18% | |
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 | 9.07% | |
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 | $ 25,242 | $ 25,242 |
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 less disposition costs | 22.20% | |
Collateral dependant impaired loan | Fair value of property or collateral [Member] | Maximum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Appraised value less disposition costs | 36.20% | |
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 | $ 32,847 | $ 32,847 |
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 | 4.15% | |
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 | $ 50,223 | $ 50,223 |
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 less disposition costs | 22.20% | |
Foreclosed real estate [Member] | Fair value of property or collateral [Member] | Maximum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Appraised value less disposition costs | 36.20% | |
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 | $ 3,225 | $ 3,225 |
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 less disposition costs | 32.00% | |
Other repossessed assets [Member] | Fair value of property or collateral [Member] | Maximum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Appraised value less disposition costs | 68.00% |
Fair value (Estimated fair valu
Fair value (Estimated fair value and carrying value) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Assets, Fair Value Disclosure [Abstract] | ||||||
Cash and Cash Equivalents, Fair Value Disclosure | $ 477,308 | $ 510,439 | ||||
Restricted Cash, at Fair Value | 3,030 | 3,030 | ||||
Trading Securities | 294 | 347 | ||||
Available-for-sale Securities | 649,327 | 751,484 | ||||
Held to maturity Fair Value | 549,595 | 592,763 | ||||
Federal Home Loan Bank (FHLB) stock | 16,616 | 10,793 | ||||
Other Investments | 3 | 3 | ||||
Loans Including HFS Fair Value | 3,955,910 | 3,917,340 | ||||
Derivative Assets | 957 | 1,330 | ||||
FDIC Indemnification Asset Fair Value Disclosure | 0 | 8,669 | ||||
Servicing Assets | 9,866 | 9,858 | ||||
Account Receivable and Other assets, Fair Value | 33,162 | 46,525 | ||||
Liabilities, Fair Value Disclosure [Abstract] | ||||||
Deposits, Fair Value Disclosure | 4,560,586 | 4,644,629 | ||||
Securities sold under agreements to repurchase | 451,933 | 651,898 | ||||
Advances from FHLB | 138,002 | 106,422 | ||||
Other Borrowings | 177 | 61 | ||||
Subordinated capital notes | 31,743 | 30,230 | ||||
Derivative Liabilities Current | 1,881 | 2,437 | ||||
Accrued expenses and other liabilities | 62,259 | 95,370 | ||||
Assets,Carrying Value [Abstract] | ||||||
Cash and Cash Equivalents, at Carrying Value | 477,308 | 510,439 | ||||
Restricted Cash And Cash Equivalents | 3,030 | 3,030 | ||||
Trading Securities | 294 | 347 | ||||
Investment securities AFS , carrying value | 649,327 | 751,484 | ||||
Investment held for sale, carrying amount | 555,407 | 599,884 | ||||
Federal Home Loan Bank Stock at carrying value | 16,616 | 10,793 | ||||
Other Investment, Carrying Value | 3 | 3 | ||||
Loans, net of allowance for loan and lease losses | 4,037,601 | 4,129,427 | ||||
Derivative Assets, carrying value | 957 | 1,330 | ||||
FDIC Indemnification Asset | 0 | $ 0 | 14,411 | $ 18,426 | $ 20,923 | $ 22,599 |
Accrued interest receivable | 19,798 | 20,227 | ||||
Servicing assets, carrying value | 9,866 | 9,858 | ||||
Account receivable and oher assets, carrying value | 33,162 | 46,525 | ||||
Liabilities,Carrying Value Disclosure [Abstract] | ||||||
Deposits, Total | 4,582,686 | 4,664,487 | ||||
Securities Sold under Agreements to Repurchase | 453,492 | 653,756 | ||||
Advances from FHLB | 137,540 | 105,454 | ||||
Other Borrowings | 177 | 61 | ||||
Subordinated capital notes | 36,083 | 36,083 | ||||
Accrued expenses and other liabilities | 62,259 | 95,370 | ||||
Derivative liabilities, carrying value | 1,881 | |||||
Fair Value, Inputs, Level 1 [Member] | ||||||
Assets, Fair Value Disclosure [Abstract] | ||||||
Cash and Cash Equivalents, Fair Value Disclosure | 477,308 | 510,439 | ||||
Restricted Cash, at Fair Value | 3,030 | 3,030 | ||||
Available-for-sale Securities | 0 | 0 | ||||
Derivative Assets | 0 | 0 | ||||
Servicing Assets | 0 | 0 | ||||
Liabilities, Fair Value Disclosure [Abstract] | ||||||
Derivative Liabilities Current | 0 | 0 | ||||
Assets,Carrying Value [Abstract] | ||||||
Cash and Cash Equivalents, at Carrying Value | 477,308 | 510,439 | ||||
Restricted Cash And Cash Equivalents | 3,030 | 3,030 | ||||
Trading Securities | 0 | 0 | ||||
Fair Value, Inputs, Level 2 [Member] | ||||||
Assets, Fair Value Disclosure [Abstract] | ||||||
Trading Securities | 294 | 347 | ||||
Available-for-sale Securities | 649,327 | 751,484 | ||||
Held to maturity Fair Value | 549,595 | 592,763 | ||||
Federal Home Loan Bank (FHLB) stock | 16,616 | 10,793 | ||||
Other Investments | 3 | 3 | ||||
Derivative Assets | 957 | 1,330 | ||||
Servicing Assets | 0 | 0 | ||||
Liabilities, Fair Value Disclosure [Abstract] | ||||||
Derivative Liabilities Current | 1,881 | 2,437 | ||||
Assets,Carrying Value [Abstract] | ||||||
Trading Securities | 294 | 347 | ||||
Investment securities AFS , carrying value | 649,327 | 751,484 | ||||
Investment held for sale, carrying amount | 555,407 | 599,884 | ||||
Federal Home Loan Bank Stock at carrying value | 16,616 | 10,793 | ||||
Other Investment, Carrying Value | 3 | 3 | ||||
Derivative Assets, carrying value | 957 | 1,330 | ||||
Liabilities,Carrying Value Disclosure [Abstract] | ||||||
Derivative liabilities, carrying value | 1,881 | |||||
Fair Value, Inputs, Level 3 [Member] | ||||||
Assets, Fair Value Disclosure [Abstract] | ||||||
Available-for-sale Securities | 0 | 0 | ||||
Loans Including HFS Fair Value | 3,955,910 | 3,917,340 | ||||
Derivative Assets | 0 | 0 | ||||
FDIC Indemnification Asset Fair Value Disclosure | 0 | 8,669 | ||||
Receivables, Fair Value Disclosure | 19,798 | 20,227 | ||||
Servicing Assets | 9,866 | 9,858 | ||||
Account Receivable and Other assets, Fair Value | 33,162 | 46,525 | ||||
Liabilities, Fair Value Disclosure [Abstract] | ||||||
Deposits, Fair Value Disclosure | 4,560,586 | 4,644,629 | ||||
Securities sold under agreements to repurchase | 451,933 | 651,898 | ||||
Advances from FHLB | 138,002 | 106,422 | ||||
Other Borrowings | 177 | 61 | ||||
Subordinated capital notes | 31,743 | 30,230 | ||||
Derivative Liabilities Current | 0 | |||||
Accrued expenses and other liabilities | 62,259 | 95,370 | ||||
Assets,Carrying Value [Abstract] | ||||||
Trading Securities | 0 | 0 | ||||
Loans, net of allowance for loan and lease losses | 4,091,866 | 4,147,692 | ||||
FDIC Indemnification Asset | 0 | 14,411 | ||||
Accrued interest receivable | 19,798 | 20,227 | ||||
Servicing assets, carrying value | 9,866 | 9,858 | ||||
Account receivable and oher assets, carrying value | 33,162 | 46,525 | ||||
Liabilities,Carrying Value Disclosure [Abstract] | ||||||
Deposits, Total | 4,582,686 | 4,664,487 | ||||
Securities Sold under Agreements to Repurchase | 453,492 | 653,756 | ||||
Advances from FHLB | 137,540 | 105,454 | ||||
Other Borrowings | 177 | 61 | ||||
Subordinated capital notes | 36,083 | 36,083 | ||||
Accrued expenses and other liabilities | $ 62,259 | $ 95,370 |
Business Segments (Details)
Business Segments (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Segment Reporting Information [Line Items] | |||||
Total interest income | $ 85,940 | $ 87,908 | $ 172,118 | $ 179,214 | |
Interest expense | (10,377) | (14,596) | (21,937) | (30,927) | |
Net interest income | 75,563 | 73,312 | 150,181 | 148,287 | |
Provision for Loan and Lease Losses, net | (26,536) | (14,445) | (44,190) | (28,234) | |
Total non-interest income (loss), net | 24,886 | 15,155 | 43,960 | 28,658 | |
Non-interest expenses | (52,816) | (53,825) | (104,500) | (108,682) | |
Intersegment revenues | 0 | 0 | 0 | 0 | |
Intersegment expenses | 0 | 0 | 0 | 0 | |
Income (loss) before Income Taxes, Parent | 21,097 | 20,197 | 45,451 | 40,029 | |
Total assets | 6,235,826 | 6,235,826 | $ 6,501,824 | ||
Banking [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total interest income | 77,019 | 79,675 | 154,592 | 160,827 | |
Interest expense | (6,820) | (7,300) | (13,634) | (14,107) | |
Net interest income | 70,199 | 72,375 | 140,958 | 146,720 | |
Provision for Loan and Lease Losses, net | (26,526) | (14,445) | (44,168) | (28,234) | |
Total non-interest income (loss), net | 11,776 | 8,214 | 25,003 | 16,009 | |
Non-interest expenses | (47,402) | (47,097) | (93,456) | (97,786) | |
Intersegment revenues | 346 | 389 | 810 | 787 | |
Intersegment expenses | (71) | (49) | (142) | (149) | |
Income (loss) before Income Taxes, Parent | 8,322 | 19,387 | 29,005 | 37,347 | |
Total assets | 5,490,287 | 5,829,987 | 5,490,287 | 5,829,987 | |
Financial Services | |||||
Segment Reporting Information [Line Items] | |||||
Total interest income | 18 | 16 | 30 | 34 | |
Interest expense | 0 | 0 | 0 | 0 | |
Net interest income | 18 | 16 | 30 | 34 | |
Provision for Loan and Lease Losses, net | 0 | 0 | 0 | 0 | |
Total non-interest income (loss), net | 6,329 | 6,910 | 12,257 | 12,930 | |
Non-interest expenses | (4,100) | (4,908) | (8,320) | (7,853) | |
Intersegment revenues | 0 | 0 | 0 | 0 | |
Intersegment expenses | (254) | (286) | (565) | (577) | |
Income (loss) before Income Taxes, Parent | 1,993 | 1,732 | 3,402 | 4,534 | |
Total assets | 22,531 | 19,054 | 22,531 | 19,054 | |
Treasury [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total interest income | 8,903 | 8,217 | 17,496 | 18,353 | |
Interest expense | (3,557) | (7,296) | (8,303) | (16,820) | |
Net interest income | 5,346 | 921 | 9,193 | 1,533 | |
Provision for Loan and Lease Losses, net | (10) | 0 | (22) | 0 | |
Total non-interest income (loss), net | 6,781 | 31 | 6,700 | (281) | |
Non-interest expenses | (1,314) | (1,820) | (2,724) | (3,043) | |
Intersegment revenues | 71 | 49 | 142 | 149 | |
Intersegment expenses | (92) | (103) | (245) | (210) | |
Income (loss) before Income Taxes, Parent | 10,782 | (922) | 13,044 | (1,852) | |
Total assets | 1,692,603 | 1,800,838 | 1,692,603 | 1,800,838 | |
Major Segment [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total interest income | 85,940 | 87,908 | 172,118 | 179,214 | |
Interest expense | (10,377) | (14,596) | (21,937) | (30,927) | |
Net interest income | 75,563 | 73,312 | 150,181 | 148,287 | |
Provision for Loan and Lease Losses, net | (26,536) | (14,445) | (44,190) | (28,234) | |
Total non-interest income (loss), net | 24,886 | 15,155 | 43,960 | 28,658 | |
Non-interest expenses | (52,816) | (53,825) | (104,500) | (108,682) | |
Intersegment revenues | 417 | 438 | 952 | 936 | |
Intersegment expenses | (417) | (438) | (952) | (936) | |
Income (loss) before Income Taxes, Parent | 21,097 | 20,197 | 45,451 | 40,029 | |
Total assets | 7,205,421 | 7,649,879 | 7,205,421 | 7,649,879 | |
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 | (417) | (438) | (952) | (936) | |
Intersegment expenses | 417 | 438 | 952 | 936 | |
Income (loss) before Income Taxes, Parent | 0 | 0 | 0 | 0 | |
Total assets | (969,595) | (937,283) | (969,595) | (937,283) | |
Consolidated Total [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total interest income | 85,940 | 87,908 | 172,118 | 179,214 | |
Interest expense | (10,377) | (14,596) | (21,937) | (30,927) | |
Net interest income | 75,563 | 73,312 | 150,181 | 148,287 | |
Provision for Loan and Lease Losses, net | (26,536) | (14,445) | (44,190) | (28,234) | |
Total non-interest income (loss), net | 24,886 | 15,155 | 43,960 | 28,658 | |
Non-interest expenses | (52,816) | (53,825) | (104,500) | (108,682) | |
Intersegment revenues | 0 | 0 | 0 | 0 | |
Intersegment expenses | 0 | 0 | 0 | 0 | |
Income (loss) before Income Taxes, Parent | 21,097 | 20,197 | 45,451 | 40,029 | |
Total assets | $ 6,235,826 | $ 6,712,596 | $ 6,235,826 | $ 6,712,596 |