DOCUMENT AND ENTITY INFORMATION
DOCUMENT AND ENTITY INFORMATION - shares | 3 Months Ended | |
Mar. 31, 2016 | May. 04, 2016 | |
Document Documentand Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | BPOP | |
Entity Registrant Name | POPULAR INC | |
Entity Central Index Key | 763,901 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 103,704,084 |
CONSOLIDATED STATEMENTS OF COND
CONSOLIDATED STATEMENTS OF CONDITION - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | ||
Assets | ||||
Cash And Due From Banks | $ 409,623 | $ 363,674 | ||
Money market investments: | ||||
Securities purchased under agreements to resell | 97,830 | 96,338 | ||
Time deposits with other banks | 1,819,630 | 2,083,754 | ||
Total money market investments | 1,917,460 | 2,180,092 | ||
Trading account securities, at fair value: | ||||
Pledged securities with creditors right to repledge | 20,085 | 19,506 | ||
Other trading securities | 51,199 | 52,153 | ||
Investment securities available-for-sale, at fair value: | ||||
Pledged securities with creditors right to repledge | 734,168 | 739,045 | ||
Other investment securities available-for-sale | 5,915,662 | 5,323,947 | ||
Investment securities held-to-maturity, at amortized cost (fair value 2016 - $80,914; 2015 - $82,889) | 99,216 | [1] | 100,903 | [2] |
Other investment securities, at lower of cost or realizable value (realizable value 2016 - $167,111; 2015 - $175,291) | 164,024 | 172,248 | ||
Loans held-for-sale, at lower of cost or fair value | 125,315 | 137,000 | ||
Loans held-in-portfolio: | ||||
Loans not covered under loss-sharing agreements with the FDIC | 22,618,488 | 22,453,813 | ||
Loans covered under loss-sharing agreements with the FDIC | 625,130 | 646,115 | ||
Less - Unearned income | 110,751 | 107,698 | ||
Allowance for loan losses | 538,472 | 537,111 | ||
Total loans held-in-portfolio, net | 22,594,395 | 22,455,119 | ||
FDIC loss-share asset | 219,448 | 310,221 | ||
Premises and equipment, net | 527,493 | 502,611 | ||
Accrued income receivable | 120,308 | 124,234 | ||
Mortgage servicing assets, at fair value | 205,051 | 211,405 | ||
Other Assets | 2,156,030 | 2,193,162 | ||
Goodwill | 631,095 | 626,388 | ||
Other intangible assets | 54,080 | 58,109 | ||
Total assets | 36,147,009 | 35,761,733 | ||
Deposits: | ||||
Non-interest bearing | 6,384,093 | 6,401,515 | ||
Interest bearing | 21,142,500 | 20,808,208 | ||
Total deposits | 27,526,593 | 27,209,723 | ||
Federal funds purchased and assets sold under agreements to repurchase | 760,154 | 762,145 | ||
Other short-term borrowings | 6,370 | 1,200 | ||
Notes payable | 1,583,468 | 1,662,508 | ||
Other liabilities | 1,018,309 | 1,019,018 | ||
Liabilities from discontinued operations | 1,815 | 1,815 | ||
Total liabilities | 30,896,709 | 30,656,409 | ||
Stockholders' equity: | ||||
Preferred stock, 30,000,000 shares authorized; 2,006,391shares issued and outstanding | 50,160 | 50,160 | ||
Common stock, $0.01 par value; 170,000,000 shares authorized; 103,895,642 shares issued (2015 - 103,816,185) and 103,670,005 shares outstanding (2015 - 103,618,976) | 1,039 | 1,038 | ||
Surplus | 4,231,233 | 4,229,156 | ||
Retained earnings | 1,156,476 | 1,087,957 | ||
Treasury stock - at cost, 225,637 shares (2015 - 197,209) | (6,858) | (6,101) | ||
Accumulated other comprehensive loss, net of tax | (181,750) | (256,886) | ||
Total stockholders' equity | 5,250,300 | 5,105,324 | ||
Total liabilities and stockholders' equity | 36,147,009 | 35,761,733 | ||
Non Covered Under Loss Sharing Agreements with FDIC | ||||
Loans held-in-portfolio: | ||||
Other real estate owned | 165,960 | 155,231 | ||
Covered Under Loss Sharing Agreements With FDIC Member | ||||
Loans held-in-portfolio: | ||||
Loans covered under loss-sharing agreements with the FDIC | 625,130 | 646,115 | ||
Other real estate owned | $ 36,397 | $ 36,685 | ||
[1] | Includes $97.5 million pledged to secure public and trust deposits that the secured parties are not permitted to sell or repledge the collateral. | |||
[2] | Includes $57.2 million pledged to secure public and trust deposits that the secured parties are not permitted to sell or repledge the collateral. |
CONSOLIDATED STATEMENTS OF CON3
CONSOLIDATED STATEMENTS OF CONDITION (PARENTHETICAL) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | ||
Statement of Financial Position [Abstract] | ||||
Held To Maturity Securities Fair Value | $ 80,914 | [1] | $ 82,889 | [2] |
Realizable Value Of Other Investment Securities | $ 167,111 | $ 175,291 | ||
Preferred stock, shares authorized | 30,000,000 | 30,000,000 | ||
Preferred stock, shares issued | 2,006,391 | 2,006,391 | ||
Preferred stock, shares outstanding | 2,006,391 | 2,006,391 | ||
Common Stock Par Or Stated Value Per Share | $ 0.01 | $ 0.01 | ||
Common Stock Shares Authorized | 170,000,000 | 170,000,000 | ||
Common Stock Shares Issued | 103,895,642 | 103,816,185 | ||
Common Stock Shares Outstanding | 103,670,005 | 103,618,976 | ||
Treasury stock - at cost, shares | 225,637 | 197,209 | ||
[1] | Includes $97.5 million pledged to secure public and trust deposits that the secured parties are not permitted to sell or repledge the collateral. | |||
[2] | Includes $57.2 million pledged to secure public and trust deposits that the secured parties are not permitted to sell or repledge the collateral. |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands | 3 Months Ended | 18 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
INTEREST EXPENSE: | |||
Provision for loan losses | $ 44,835 | $ 40,035 | |
Adjustments (expense) to indemnity reserves on loans sold | (4,098) | (4,526) | |
Operating expenses: | |||
Amortization of intangibles | 3,114 | 2,104 | |
Net Income | 84,999 | 74,826 | |
Net income applicable to common stock | $ 84,068 | $ 73,896 | |
Net Income per Common Share - Basic | $ 0.81 | $ 0.72 | |
Net Income per Common Share - Diluted | 0.81 | 0.72 | |
Dividends Declared per Common Share | $ 0.15 | $ 0 | |
Continuing Operations | |||
Interest income: | |||
Loans | $ 363,197 | $ 355,631 | |
Money market investments | 2,863 | 1,446 | |
Investment securities | 36,271 | 30,301 | |
Trading account securities | 1,689 | 2,696 | |
Total interest income | 404,020 | 390,074 | |
INTEREST EXPENSE: | |||
Deposits | 29,874 | 25,864 | |
Short-term borrowings | 1,861 | 1,734 | |
Long-term debt | 19,873 | 19,281 | |
Total interest expense | 51,608 | 46,879 | |
Net interest income | 352,412 | 343,195 | |
Net interest income after provision for loan losses | 307,577 | 303,160 | |
Service charges on deposit accounts | 39,862 | 39,017 | |
Other service fees | 53,382 | 53,626 | |
Mortgage banking activities | 10,551 | 12,852 | |
Trading account profit | (162) | 414 | |
Net (loss) gain on sale of loans, including valuation adjustments on loans held-for-sale | (304) | (79) | |
Adjustments (expense) to indemnity reserves on loans sold | (4,098) | (4,526) | |
FDIC loss share (expense) income | (3,146) | 4,139 | |
Other operating income | 15,545 | 9,792 | |
Total non-interest income | 111,630 | 115,235 | |
Operating expenses: | |||
Personnel costs | 127,091 | 116,458 | |
Net occupancy expenses | 20,430 | 21,709 | |
Equipment expenses | 14,548 | 13,411 | |
Other taxes | 10,195 | 8,574 | |
Professional fees | 75,459 | 75,528 | |
Communications | 6,320 | 6,176 | |
Business promotion | 11,110 | 10,813 | |
FDIC deposit insurance | 7,370 | 6,398 | |
Other real estate owned (O R E O) expenses | 9,141 | 23,069 | |
Other operating expenses | 17,165 | 17,349 | |
Amortization of intangibles | 3,114 | 2,104 | |
Restructuring Costs | 0 | 10,753 | $ 45,100 |
Total operating expenses | 301,943 | 312,342 | |
Income from continuing operations before income tax | 117,264 | 106,053 | |
Income tax expense | 32,265 | 32,568 | |
Income from continuing operations | $ 84,999 | $ 73,485 | |
Net income from continuing operations - Basic | $ 0.81 | $ 0.71 | |
Net income from continuing operations - Diluted | $ 0.81 | $ 0.71 | |
Continuing Operations | Non Covered Under Loss Sharing Agreements with FDIC | |||
INTEREST EXPENSE: | |||
Provision for loan losses | $ 47,940 | $ 29,711 | |
Continuing Operations | Covered Under Loss Sharing Agreements With FDIC Member | |||
INTEREST EXPENSE: | |||
Provision for loan losses | (3,105) | 10,324 | |
Discontinued Operations | |||
Operating expenses: | |||
Income from discontinued operations, net of tax | $ 0 | $ 1,341 | |
Net income from discontinued operations - Basic | $ 0 | $ 0.01 | |
Net income from discontinued operations - Diluted | $ 0 | $ 0.01 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Statement of Income and Comprehensive Income | ||
Net Income | $ 84,999 | $ 74,826 |
Other comprehensive loss before tax: | ||
Foreing currency translation adjustment | (705) | (581) |
Amortization of net losses | 5,486 | 5,025 |
Amortization of prior service cost | (950) | (950) |
Unrealized holding (losses) gains on investments arising during the period | 76,236 | 35,342 |
Unrealized net (losses) gains on cash flow hedges | (2,000) | (2,535) |
Reclassification adjustment for net (gains) losses included in net income | 1,545 | 1,358 |
Other comprehensive loss before tax | 79,612 | 37,659 |
Income tax benefit (expense) | (4,476) | (2,187) |
Total other comprehensive loss, net of tax | 75,136 | 35,472 |
Comprehensive income (loss), net of tax | $ 160,135 | $ 110,298 |
TAX EFFECT ALLOCATED TO EACH CO
TAX EFFECT ALLOCATED TO EACH COMPONENT OF OTHER COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Statement of Income and Comprehensive Income | ||
Amortization of net losses | $ (2,140) | $ (1,960) |
Amortization of prior service cost | 370 | 371 |
Unrealized holding (losses) gains on investments arising during the period | (2,885) | (1,057) |
Unrealized net (losses) gains on cash flow hedges | 781 | 989 |
Reclassification adjustment for net losses (gains) included in net income | (602) | (530) |
Income tax benefit (expense) | $ (4,476) | $ (2,187) |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands | Total | Common Stock | Preferred Stock | Surplus | Retained earnings | Treasury Stock | Accumulated other comprehensive income (loss) |
Beginning Balance at Dec. 31, 2014 | $ 4,267,382 | $ 1,036 | $ 50,160 | $ 4,196,458 | $ 253,717 | $ (4,117) | $ (229,872) |
Net Income | 74,826 | 74,826 | |||||
Issuance of stock | 1,406 | 1 | 1,405 | ||||
Tax windfall benefit (shortfall expense) on vesting of restricted stock | 69 | 69 | |||||
Dividends declared: | |||||||
Dividends, Preferred Stock, Cash | (930) | (930) | |||||
Common stock purchases | (1,123) | (1,123) | |||||
Common stock reissuance | 18 | 18 | |||||
Other comprehensive loss, net of tax | 35,472 | 35,472 | |||||
Ending Balance at Mar. 31, 2015 | 4,377,120 | 1,037 | 50,160 | 4,197,932 | 327,613 | (5,222) | (194,400) |
Beginning Balance at Dec. 31, 2015 | 5,105,324 | 1,038 | 50,160 | 4,229,156 | 1,087,957 | (6,101) | (256,886) |
Net Income | 84,999 | 84,999 | |||||
Issuance of stock | 2,109 | 1 | 2,108 | ||||
Tax windfall benefit (shortfall expense) on vesting of restricted stock | (31) | (31) | |||||
Dividends declared: | |||||||
Dividends, Common Stock, Cash | (15,549) | (15,549) | |||||
Dividends, Preferred Stock, Cash | (931) | (931) | |||||
Common stock purchases | (764) | (764) | |||||
Common stock reissuance | 7 | 7 | |||||
Other comprehensive loss, net of tax | 75,136 | 75,136 | |||||
Ending Balance at Mar. 31, 2016 | $ 5,250,300 | $ 1,039 | $ 50,160 | $ 4,231,233 | $ 1,156,476 | $ (6,858) | $ (181,750) |
DISCLOSURE OF CHANGES IN NUMBER
DISCLOSURE OF CHANGES IN NUMBER OF SHARES - shares | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Treasury stock | (225,637) | |
Common Stock - Outstanding | 103,670,005 | |
Common Stock | ||
Beginning balance | 103,816,185 | 103,614,553 |
Issuance of stock | 79,457 | 42,621 |
Balance at end of year | 103,895,642 | 103,657,174 |
Treasury stock | (225,637) | (170,247) |
Common Stock - Outstanding | 103,670,005 | 103,486,927 |
Preferred Stock | ||
Balance at end of year | 2,006,391 | 2,006,391 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Cash flows from operating activities: | ||
Net Income | $ 84,999 | $ 74,826 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
Provision for loan losses | 44,835 | 40,035 |
Amortization of intangibles | 3,114 | 2,104 |
Depreciation and amortization of premises and equipment | 11,707 | 11,919 |
Net accretion of discounts and amortization of premiums and deferred fees | (11,158) | (19,100) |
Fair value adjustments on mortgage servicing rights | 8,477 | 4,929 |
FDIC loss share (income) expense | 3,146 | (4,139) |
Adjustments (expense) to indemnity reserves on loans sold | 4,098 | 4,526 |
Earnings from investments under the equity method | (7,089) | (2,301) |
Deferred income tax (benefit) expense | 23,218 | 23,380 |
(Gain) loss on: | ||
Disposition of premises and equipment and other productive assets | (1,946) | (978) |
Sale of loans, including valuation adjustments on loans held-for-sale and mortgage banking activities | (7,101) | (7,222) |
Sale of foreclosed assets, including write-downs | 2,802 | 14,851 |
Acquisitions of loans held-for-sale | (66,451) | (121,929) |
Proceeds from sale of loans held-for-sale | 22,253 | 27,547 |
Net originations on loans held-for-sale | (110,528) | (179,604) |
Net (increase) decrease in: | ||
Trading securities | 176,598 | 177,942 |
Accrued income receivable | 3,926 | (13) |
Other assets | 20,996 | (28,027) |
Net increase (decrease) in: | ||
Interest payable | (12,261) | (10,216) |
Pension and other postretirement benefits obligation | 1,536 | 1,019 |
Other liabilities | (17,010) | (19,377) |
Total adjustments | 93,162 | (84,654) |
Net cash provided by operating activities | 178,161 | (9,828) |
Cash flows from investing activities: | ||
Net (increase) decrease in money market investments | 262,632 | (484,829) |
Purchases of investment securities: | ||
Available-for-sale | (742,859) | (411,189) |
Held-to-maturity | 0 | (250) |
Other | (59,786) | (2,520) |
Proceeds from calls, paydowns, maturities and redemptions of investment securities: | ||
Available-for-sale | 239,399 | 385,672 |
Held-to-maturity | 2,108 | 2,231 |
Other | 41,664 | 30,785 |
Proceeds from sale of other investment securities | 26,346 | 1,388 |
Net repayments on loans | 13,335 | 154,794 |
Proceeds from sale of loans | 1,128 | 19,127 |
Acquisition of loan portfolios | (212,798) | (49,510) |
Net payments from FDIC under loss sharing agreements | 88,588 | 132,265 |
Net cash received and acquired from business combination | 0 | 711,051 |
Return of capital from equity method investments | 206 | 0 |
Mortgage servicing rights purchased | 0 | (2,400) |
Acquisition of premises and equipment | (38,819) | (10,231) |
Proceeds from sale of: | ||
Premises and equipment and other productive assets | 5,092 | 3,093 |
Foreclosed assets | 14,513 | 40,161 |
Net cash provided by investing activities | (359,251) | 519,638 |
Net increase (decrease) in: | ||
Deposits | 318,550 | 265,906 |
Federal funds purchased and assets sold under agreements to repurchase | (1,991) | (139,013) |
Other short-term borrowings | 5,170 | (148,215) |
Payments of notes payable | (108,452) | (419,487) |
Proceeds from issuance of notes payable | 28,883 | 46,000 |
Proceeds from issuance of common stock | 2,109 | 1,405 |
Dividends paid | (16,473) | (620) |
Net payments for repurchase of common stock | (757) | (1,105) |
Net cash used in financing activities | 227,039 | (395,129) |
Net decrease in cash and due from banks | 45,949 | 114,681 |
Cash and due from banks at beginning of period | 363,674 | 381,095 |
Cash and due from banks at end of period | $ 409,623 | $ 495,776 |
Nature of operations
Nature of operations | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure Text Block | |
Nature Of Operations | Note 1 – Nature of Operations Popular, Inc. (the “Corporation”) is a diversified, publicly-owned financial holding company subject to the supervision and regulation of the Board of Governors of the Federal Reserve System. The Corporation has operations in Puerto Rico, the United States and the Caribbean. In Puerto Rico, the Corporation provides retail, mortgage , and commercial banking services through its principal banking subsidiary, Banco Popular de Puerto Rico (“BPPR”), as well as investment banking, broker-dealer, auto and equipment leasing and financing, and insurance services through specialized subsidiaries. In the U.S. mainland, the Corporation operates Banco Popular North America (“BPNA”), including its wholly-owned subsidiary E-LOAN. BPNA focus es efforts and resources on the core community banking business. BPNA operates branches in New York, New Jersey and South Florida under the name of Popular Community Bank . E-LOAN markets deposit accounts under its name for the benefit of BPNA. Refer to Note 4 for discussion of the sales of t he California, Illinois and Central Florida regional operations during 2014. Note 35 to the consolidated financial statements presents information about the Corporation’s business segments. On February 27, 2015, BPPR, in an alliance with other bidders, including BPNA , acquired certain assets and all deposits (other than certain brokered deposits) of former Doral Bank (“Doral”) from the Federal Deposit Insurance Corporation (FDIC), as receiver (the “Doral Bank Transaction ”). Under the FDIC’s bidding forma t, BPPR was the lead bidder and party to the purchase and assumption agreement with the FDIC covering all assets and deposits acquired by it and its alliance co-bidders. BPPR entered into back to back purchase and assumption agreements with the alliance c o-bidders for the transfer of certain assets and deposits. The other co-bidders that formed part of the alliance led by BPPR were First Bank Puerto Rico, Centennial Bank, and a vehicle formed by J.C. Flowers III L.P. BPPR entered into transition service ag reements with each of the alliance co-bidders. Refer to Note 5 for further details on the Doral Bank Transaction. |
Basis of presentation and summa
Basis of presentation and summary of significant accounting policies | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure Text Block | |
Basis Of Presentation And Significant Accounting Policies | Note 2 – Basis of Presentation and Summary of Significant Accounting Policies Principles of Consolidation and Basis of Presentation The consolidated interim financial statements have been prepared without audit. The consolidated statement of financial condition data at December 31, 2015 was derived from audited financial statements. The unaudited interim financial statements are, in the opinion of management, a fair statement of the results for the periods reported and include all necessary adjustmen ts, all of a normal recurring nature, for a fair statement of such results. Certain reclassifications have been made to the 2015 consolidated financial statements and notes to the financial statements to conform with the 2016 presentation. Certain information and note disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted from the unaudited financial statements pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, these financial statements should be read in conjunction with the audited consolidated financial statements of the Corporation for the year ended December 31, 2015 , in cluded in the Corporation’s 2015 Form 10-K . Operating results for the interim periods disclosed herein are not necessarily indicative of the results that may be expected for a full year or any future period. Use of Es timates in the Preparation of Financial Statements The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the rep orted amounts of assets and liabilities and contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
New accounting pronouncements
New accounting pronouncements | 3 Months Ended |
Mar. 31, 2016 | |
New Accounting Pronouncements and Changes in Accounting Principles | |
New Accounting Pronouncements | Note 3 – New a ccounting p ronouncements Recently Adopted Accounting Standards Updates FASB Accounting Standards Update 2015-03, Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”) The FASB issued ASU 2015 - 03 in April 2015, which simplified the presentation of debt issuance costs. The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct reduction from the carrying amount of that debt liab ility. The amendments of this Update, which are required to be applied on a retrospective basis, are effective for financial statements issued for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Since the Co rporation‘s policy was to record debt issuance costs as a deferred asset, it reclassified $7.3 million (December 31, 2015 - $7.8 million) of debt issuance costs as a result of the adoption of this accounting pronouncement during the first quarter of 2016 and adjusted prior periods accordingly. Additionally, adoption of the following standards effective during the first quarter of 2016 did not have a significant impact on the presentation and disclosures in its consolidated financial statements: FASB Acc ounting Standards Update 2014-12, Compensation – Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period (“ASU 2014-12”) FASB Acco unting Standards Update 2014-13, Consolidation (Topic 810): Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financial Entity (“ASU 2014-13”) FASB Accounting Standards Update 2014-16, Derivatives and Hedging (To pic 815): Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share is more Akin to Debt or to Equity (“ASU 2014-16”) FASB A c counting Standards Update 2015-01, Income Statement – Extraordinary and Unusual Items (S ubtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items (“ASU 2015-01”) FASB Accounting Standards Update 2015-02, Consolidation (Topic 810): Amendment to the Consolidation Analysis (“ASU 2015-02”) FASB Accounting Standards Update 2015-04, Compensation – Retirement Benefits (Topic 715): Practical Expedient for the Measurement Date of an Employer’s Defined Benefit Obligation and Plan Assets (“ASU 2015-04”) FASB Accounting Standards Update 2015-05, Intangi bles – Goodwill and Other Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement (“ASU 2015-05”) FASB Accounting Standards Update 2015-07, Fair Value Measurement – (Topic 820): Disclosures for Investme nt in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) (“ASU 2015-07”) FASB Accounting Standards Update 2015-09, Insurance - (Topic 944): Disclosures about Short-Duration Contracts Recently Issued Accounting Standards Updates FASB Accounting Standards Update (“ASU”) 2016- 10 , Revenue from Contracts with Customers (Topic 606) : Identifying Performance Obligations and Licensing The FASB issued ASU 2016-10 in April 2016 which clarifies two aspects of Topic 606, in particu lar, the identification of performance obligations. Among other things, an entity is not required to assess whether promised goods or services are performance obligations if they are immaterial in the context of the contract with the customer. In addition, in determining whether promises to transfer goods or services are separately identifiable, an entity should determine whether the nature of its promise in the contract is to transfer each of the goods or services or whether the promise is to transfer a co mbined item (or items) to which the promised goods and/or services are inputs. The amendments of this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017 (same effective date as ASU 2015 -14). FASB Accounting Standards Update (“ASU”) 2016-0 9 , Compensation – Stock Compensation (Topic 718 ): Improvements to Employee Share-Based Payment Accounting The FASB issued ASU 2016-09 in March 2016 which simplifies multiple aspects of the accounting for share-based payment transactions, including the recognition of excess tax benefits and deficiencies as an income tax benefit or expense in the income statement and classification in the statement of cash flows as an operating activity, allowing entitie s to elect as an accounting policy to account for forfeitures when they occur, permitting entities to withhold up to the maximum individual statutory rate without classifying the awards as a liability, and requiring that the cash paid to satisfy the statut ory income tax withholding obligation be classified as a financing activity. The amendments of this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. Early adoption is permitted. The Corporation does not anticipate that the adoption of this accounting pronouncement will have a material effect on its consolidated statements of financial condition, results of operations, cash flows or presentation and disclosures. FASB Accounting Stand ards Update (“ASU”) 2016-0 8 , Revenue from Contracts with Customers (Topic 606) : Principal versus Agent Considerations (Reporting Revenue Gross versus Net) The FASB issued ASU 2016-08 in March 2016, which amends the implementation guidance in ASU 2014-09 by clarifying, among other things, that an entity should determine the nature of the goods or services provided to the customer and whether it controls each specified good or service before it is transferred to the customer, that an entity can be a principal for some goods or services and an agent for others with the same contract, and that an entity is a principal if it controls the goods or services before t ransferring them to the customer. The amendments of this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017 (same effective date as ASU 2015-14). The Corporation is currently evaluatin g the impact that the adoption of this guidance will have on its consolidated statements of financial condition or results of operations . FASB Accounting Standards Update (“ASU”) 2016-0 7 , Investments – Equity Method and Joint Ventures (Topic 323 ): Simplify ing the Transition to the Equity Method of Accounting The FASB issued ASU 2016-07 in March 2016, which eliminates the requirement to retroactively adopt the equity method of accounting. Therefore, as of the date the investment becomes qualified for equity method accounting, an entity should add the cost of acquiring the additional interest in the investee to the current basis of its previously held interest. For available-for-sale securities, an entity should recognize through earnings the unrealized holdi ng gains/losses in accumulated other comprehensive income/loss as of that date. The amendments of this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. Early adoption is permitted. T he Corporation does not anticipate that the adoption of this accounting pronouncement will have a material effect on its consolidated statements of financial condition or results of operations. FASB Accounting Standards Update (“ASU”) 2016-0 6 , Derivative s and Hedging (Topic 815): Contingent Put and Call Options in Debt Instruments The FASB issued ASU 2016-06 in March 2016, which clarifies that in assessing whether an embedded contingent put or call option is not clearly and closely related to the debt in strument, which is part of the assessment made to determine whether an embedded derivative must be bifurcated from the host contract, an entity is required to perform only the four step decision sequence. The four-step decision sequence requires an entity to consider whether (1) the payoff is adjusted based on changes in an index, (2) the payoff is indexed to an underlying other than interest rates or credit risk, (3) the debt involves a substantial premium or discount and (4) the put or call option is cont ingently exercisable. It does not have to separately assess whether the event that triggers its ability to exercise the contingent option itself is indexed only to interest rates and credit risk. The amendments of this Update are effective for fiscal year s, and interim periods within those fiscal years, beginning after December 15, 2016. Early adoption is permitted. The Corporation does not anticipate that the adoption of this accounting pronouncement will have a material effect on its consolidated stateme nts of financial condition or results of operations. FASB Accounting Standards Update (“ASU”) 2016-05, Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships The FASB issued ASU 2016-05 in March 2016, which clarifies that a novation , or a change in the counterparty to the derivative instrument that has been designated as a hedging instrument under Topic 815 does not, in and of itself, require de-designation of that hedging relationship, and therefore discontinuance of the application of hedge accounting, provided that all other hedge accounting criteria continue to be met. The amendments of this Update are effective for fiscal years, and interim periods withi n those fiscal years, beginning after December 15, 2016. Early adoption is permitted. The Corporation does not anticipate that the adoption of this accounting pronouncement will have a material effect on its consolidated statements of financial condition o r results of operations. For recently issued Accounting Standards Updates not yet effective, refer to Note 3 to the consolidated financial statements included in the 2015 Form 10-K. |
Discontinued operations and res
Discontinued operations and restructuring plan | 3 Months Ended |
Mar. 31, 2016 | |
Discontinued Operations And Disposal Groups | |
Discontinued operations and Restructuring plan | Note 4 – Discontinued operations and restructuring plan During the year ended December 31, 2014, the Corporation completed the sale of its California, Illinois and Central Florida regional operations and relocated certain back office operations to Puerto Rico and New York. As defined in ASC 805-10-55, the regional operations sold constituted a business, and for financial reporting purposes, the results of the discontinued operations are presented as “Assets / Liabilities from discontinued operation s” in the consolidated statement of condition and “(Loss) income from discontinued operations, net of tax” in the consolidated statement of operations. As of March 31, 2016 and December 31, 2015, there were no assets held within the discontinued operations and liabilities within discontinued operations amounted to approximately $ 1.8 million, mainly comprised of the indemnity reserve related to the California regional sale. There were no activities from the discontinued operations for the quarter ended March 31, 2016. Net income from the discontinued operations amounted to $ 1.3 million for the quarter ended March 31, 2015. Also, in connection with the sale, the Corporation has undertaken a restructuring plan (the “PCB Restructuri ng Plan”) which has been completed as of March 31, 2016. The Corporation incurred restructuring charges of $45.1 million. During the quarter ended March 31, 2015, the Corporation incurred $ 10.8 million in restructuring costs, mostly comprised of $9. 4 million in personnel costs. The following table presents the activity in the reserve for the restructuring costs associated with the PCB Restructuring Plan: Quarters ended March 31, (In thousands) 2016 2015 Beginning balance $ 620 $ 13,536 Charges expensed during the period - 6,297 Payments made during the period (263) (9,030) Ending balance $ 357 $ 10,803 |
Business combination
Business combination | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure Text Block | |
Business Combination | Note 5 – Business combination On February 27, 2015, BPPR, in an alliance with co-bidders, including BPNA, acquired certain assets and all deposits (other than certain brokered deposits) of former Doral Bank from the FDIC , as receiver . Under the FDIC’s bidding format, BPPR was the lead bidder and party to the purchase and assumption agreement with the FDIC covering all assets and deposits acquired by it and its alliance co-bidders. BPPR entered into back to back purchase and assumption agreements with the alliance co-bidders for the transfer of certain assets and deposits. BPPR entered into transition service agreements with each of the alliance co-bidders. There is no loss-sharing arrangement with the FD IC on the acquired assets. The following table presents the fair values of major classes of identifiable assets acquired and liabilities assumed by the Corporation as of February 27, 2015 . Book value prior to purchase accounting Fair value Additional As recorded by (In thousands) adjustments adjustments consideration [1] Popular, Inc. Assets: Cash and due from banks $ 339,633 $ - $ - $ 339,633 Investment in available-for-sale securities 172,706 - - 172,706 Investments in FHLB stock 30,785 - - 30,785 Loans 1,679,792 (165,925) - 1,513,867 Accrued income receivable 7,808 - - 7,808 Receivable from the FDIC - - 480,137 480,137 Core deposit intangible 23,572 (10,762) - 12,810 Other assets 67,676 7,569 - 75,245 Total assets $ 2,321,972 $ (169,118) $ 480,137 $ 2,632,991 Liabilities: Deposits $ 2,193,404 $ 9,987 $ - $ 2,203,391 Advances from the Federal Home Loan Bank 542,000 5,187 - 547,187 Other liabilities 50,728 (511) - 50,217 Total liabilities $ 2,786,132 $ 14,663 $ - $ 2,800,795 Excess of liabilities assumed over assets acquired $ 464,160 Aggregate fair value adjustments $ (183,781) Additional consideration $ 480,137 Goodwill on acquisition $ 167,804 [1] The additional consideration represents the cash to be received from the FDIC for the difference between the net liabilities assumed and the net premium paid on the transaction. In accordance with ASC Topic 805, the fair values assigned to the assets acquired and liabilities assumed are subject to refinement up to one year after the closing date of the acquisition as new information relative to closing date fair values become available, and thus the recognized goodwill may increase or decrease. During the second and third quarters of 2015, retrospective adjustments were made to the estimated fair values of certain assets acquired and liabilities assumed as part of the Doral Bank Transaction to reflect new information obtained about facts and circumstances that existed as of the acquisition date. The retrospective adjustments resulted in a decrease of $2.1 million to the initial fair value estimate of the mortgage servicing rights, a decrease in other liabilities assumed of $0.5 million and, an increase of $2.6 million in the receivable from the FDIC related to the acquisition cost of deposits, all of which were adjusted against goodwill. During the fourth quarter of 2015 the Corporation early adopted ASU 2015-16 “Business Combination”. Accordingly, adjustments to the initial fair value estimates identified during the measurement period were recognized in the reporting period in which the adjustment amounts were determined. Pursuant to ASU 2015-16, adjustments were made effective in the fourth quarter of 2015 to the estimated fair values of assets and liabilities assumed with the Doral Bank Transaction to reflect new information obtained during the measurement period about facts and circumstances that existed as of the acquisition dat e that, if known, would have affected the acquisition-date fair value measurements. During the quarter ended March 31, 2016, the Corporation recorded adjustments to its initial fair value estimates in connection with the Doral Bank Transaction. As a result, the discount on the loans increased by $4.7 million with a corresponding increase to goodwill. The following table presents the principal changes in fair value and the revised amounts recorded during the measurement period . February 27, 2015 February 27, 2015 As recasted [a] As previously (In thousands) reported [b] Change Assets: Loans $ 1,513,867 $ 1,665,756 $ (151,889) Goodwill 167,804 41,633 126,171 Core deposit intangible 12,810 23,572 (10,762) Receivable from the FDIC 480,137 441,721 38,416 Other assets 626,177 626,177 - Total assets $ 2,800,795 $ 2,798,859 $ 1,936 Liabilities: Deposits $ 2,203,391 $ 2,201,455 $ 1,936 Advances from the Federal Home Loan Bank 547,187 547,187 - Other liabilities 50,217 50,217 - Total liabilities $ 2,800,795 $ 2,798,859 $ 1,936 [a] Amounts reported include retrospective adjustments during the measurement period, in accordance with U.S. GAAP, related to the Doral Bank Transaction. [b] Amounts are presented as previously reported as of September 30, 2015. The impact in the results of operations for the quarter ended M arch 31, 2015 as a result of the recasting was a n in crease in net income of approximately $0. 6 million as detailed in the following table: Quarter ended March 31, 2015 (In thousands) As recasted As reported Difference Net Interest Income $ 10,306 $ 9,768 $ 538 Non-Interest Income 4,262 4,262 - Operating Expenses 14,398 14,488 (90) Income Before Taxes $ 170 $ (458) $ 628 |
Restrictions on cash and due fr
Restrictions on cash and due from banks and certain securities | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure Text Block | |
Restricted On Cash And Due From Banks And Certain Securities | Note 6 - Restrictions on cash and d ue fr om banks and certain securities The Corporation’s banking subsidiaries, BPPR and BPNA, are required by federal and state regulatory agencies to maintain average reserve balances with the Federal Reserve Bank of New York (the “Fed”) or other banks. Those required average reserve balances amounted to $ 1.1 b illion at March 31, 2016 ( December 31, 2015 - $ 1.1 b illion ) . Cash and due from banks, as well as other short-term, highly liquid securities, are used to cover the required average reserve balances. At March 31, 2016 , t he Corporation held $ 52 million in restr icted assets in the form of funds deposited in money market accounts , trading account securities and investment securities available for sale ( December 31, 2015 - $ 44 millio n). The amounts held in trading account securities and investment s ecurities available for sale consist primarily of restricted assets held for the Corporation’s non-qualified retirement plans and fund deposits guaranteeing possible liens or encumbrances over the title of insured properties. |
Investment securities
Investment securities | 3 Months Ended |
Mar. 31, 2016 | |
Available For Sale Securities Member | |
Investment | Note 7 – Investment securities available-for-sale T he following table s present the amortized cost, gross unrealized gains and losses, approximate fair value, weighted average yield and contractual maturities of investment securities available-for- sale at March 31, 2016 and December 31, 2015 . At March 31, 2016 Gross Gross Weighted Amortized unrealized unrealized Fair average (In thousands) cost gains losses value yield U.S. Treasury securities Within 1 year $ 24,665 $ 143 $ - $ 24,808 4.92 % After 1 to 5 years 1,281,481 6,792 - 1,288,273 1.03 After 5 to 10 years 9,939 332 - 10,271 1.99 Total U.S. Treasury securities 1,316,085 7,267 - 1,323,352 1.11 Obligations of U.S. Government sponsored entities After 1 to 5 years 904,631 5,221 109 909,743 1.33 After 5 to 10 years 250 3 - 253 5.64 After 10 years 23,000 - 58 22,942 3.24 Total obligations of U.S. Government sponsored entities 927,881 5,224 167 932,938 1.38 Obligations of Puerto Rico, States and political subdivisions After 1 to 5 years 7,292 - 176 7,116 3.88 After 5 to 10 years 5,925 1 1,963 3,963 4.02 After 10 years 18,604 1 5,954 12,651 6.99 Total obligations of Puerto Rico, States and political subdivisions 31,821 2 8,093 23,730 5.72 Collateralized mortgage obligations - federal agencies Within 1 year 282 - - 282 0.95 After 1 to 5 years 20,257 918 - 21,175 2.86 After 5 to 10 years 41,078 818 - 41,896 2.86 After 10 years 1,447,516 14,027 11,325 1,450,218 1.98 Total collateralized mortgage obligations - federal agencies 1,509,133 15,763 11,325 1,513,571 2.01 Mortgage-backed securities Within 1 year 25 - - 25 4.80 After 1 to 5 years 20,808 990 6 21,792 4.64 After 5 to 10 years 281,359 6,195 2 287,552 2.43 After 10 years 2,485,109 50,510 1,282 2,534,337 2.76 Total mortgage-backed securities 2,787,301 57,695 1,290 2,843,706 2.74 Equity securities (without contractual maturity) 1,351 1,090 2 2,439 7.82 Other After 1 to 5 years 8,819 10 - 8,829 1.72 After 5 to 10 years 1,220 45 - 1,265 3.62 Total other 10,039 55 - 10,094 1.95 Total investment securities available-for-sale [1] $ 6,583,611 $ 87,096 $ 20,877 $ 6,649,830 2.07 % [1]Includes $2.2 billion pledged to secure public and trust deposits, assets sold under agreements to repurchase, credit facilities and loan servicing agreements that the secured parties are not permitted to sell or repledge the collateral, of which $1.3 billion serve as collateral for public funds. At December 31, 2015 Gross Gross Weighted Amortized unrealized unrealized Fair average (In thousands) cost gains losses value yield U.S. Treasury securities Within 1 year $ 24,861 $ 335 $ - $ 25,196 4.31 % After 1 to 5 years 1,149,807 365 1,999 1,148,173 1.03 After 5 to 10 years 9,937 22 - 9,959 1.99 Total U.S. Treasury securities 1,184,605 722 1,999 1,183,328 1.11 Obligations of U.S. Government sponsored entities After 1 to 5 years 919,819 1,337 4,808 916,348 1.33 After 5 to 10 years 250 1 - 251 5.64 After 10 years 23,000 42 - 23,042 3.22 Total obligations of U.S. Government sponsored entities 943,069 1,380 4,808 939,641 1.38 Obligations of Puerto Rico, States and political subdivisions After 1 to 5 years 7,227 - 199 7,028 3.94 After 5 to 10 years 5,925 - 2,200 3,725 4.02 After 10 years 18,585 - 6,979 11,606 6.99 Total obligations of Puerto Rico, States and political subdivisions 31,737 - 9,378 22,359 5.74 Collateralized mortgage obligations - federal agencies After 1 to 5 years 21,446 594 37 22,003 2.81 After 5 to 10 years 44,585 733 - 45,318 2.85 After 10 years 1,518,662 8,137 33,283 1,493,516 1.99 Total collateralized mortgage obligations - federal agencies 1,584,693 9,464 33,320 1,560,837 2.02 Mortgage-backed securities After 1 to 5 years 22,015 987 8 22,994 4.65 After 5 to 10 years 256,097 4,866 1,197 259,766 2.51 After 10 years 2,039,217 34,839 12,620 2,061,436 2.83 Total mortgage-backed securities 2,317,329 40,692 13,825 2,344,196 2.81 Equity securities (without contractual maturity) 1,350 1,053 5 2,398 7.92 Other After 1 to 5 years 8,911 - 28 8,883 1.71 After 5 to 10 years 1,311 39 - 1,350 3.62 Total other 10,222 39 28 10,233 1.95 Total investment securities available-for-sale [1] $ 6,073,005 $ 53,350 $ 63,363 $ 6,062,992 2.07 % [1]Includes $2.4 billion pledged to secure public and trust deposits, assets sold under agreements to repurchase, credit facilities and loan servicing agreements that the secured parties are not permitted to sell or repledge the collateral, of which $1.5 billion serve as collateral for public funds. The weighted average yield on investment securities available-for-sale is based on amortized cost; therefore, it does not give effect to changes in fair value. Securities not due on a single contractual maturity date, such as mortgage-backed securities and collateralized mortgage obligations, are classified in the period of final contractual maturity. The expected maturities of collateralized mortgage obligations, mortgage-backed securities and certain other securities may differ from their contractual maturities because they may be subject to prepayments or may be called by the issuer. There were no securities sold during the quarter s ended March 31, 2016 and 2015 . The following tables present the Corporation’s fair value and gross unrealized losses of investment securities available-for-sale, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss pos ition at March 31, 2016 and December 31, 2015 . At March 31, 2016 Less than 12 months 12 months or more Total Gross Gross Gross Fair unrealized Fair unrealized Fair unrealized (In thousands) value losses value losses value losses Obligations of U.S. Government sponsored entities $ 73,342 $ 113 $ 19,376 $ 54 $ 92,718 $ 167 Obligations of Puerto Rico, States and political subdivisions 6,229 10 15,515 8,083 21,744 8,093 Collateralized mortgage obligations - federal agencies - - 656,971 11,325 656,971 11,325 Mortgage-backed securities 231,705 816 80,005 474 311,710 1,290 Equity securities 48 2 - - 48 2 Total investment securities available-for-sale in an unrealized loss position $ 311,324 $ 941 $ 771,867 $ 19,936 $ 1,083,191 $ 20,877 At December 31, 2015 Less than 12 months 12 months or more Total Gross Gross Gross Fair unrealized Fair unrealized Fair unrealized (In thousands) value losses value losses value losses U.S. Treasury securities $ 589,689 $ 1,999 $ - $ - $ 589,689 $ 1,999 Obligations of U.S. Government sponsored entities 390,319 2,128 181,744 2,680 572,063 4,808 Obligations of Puerto Rico, States and political subdivisions 884 164 19,490 9,214 20,374 9,378 Collateralized mortgage obligations - federal agencies 331,501 4,446 814,195 28,874 1,145,696 33,320 Mortgage-backed securities 1,641,663 12,992 22,362 833 1,664,025 13,825 Equity securities 45 5 - - 45 5 Other 8,883 28 - - 8,883 28 Total investment securities available-for-sale in an unrealized loss position $ 2,962,984 $ 21,762 $ 1,037,791 $ 41,601 $ 4,000,775 $ 63,363 As of March 31, 2016 , the available-for-sale investment portfolio reflects gross unrealized losses of approximately $ 21 million, driven by U.S. Agency c olla teralized mortgage obligations, mortgage-backed securities and obligations of the Puerto Rico Government and its political subdivisions. As part of its analysis for all U . S . Agencies’ securities , management considers the U . S . Agency guarantee. The portfolio of obligations of the Puerto Rico Government is mostly comprised of securities w ith specific sources of income or revenues identified for repayments . The Corporation performs periodic credit quality reviews on these issuers. Management evaluates investment securities for other-than-temporary (“OTTI”) declines in fair value on a quarterly basis. Once a decline in value is determined to be other-than-temporary, the value of a debt security is reduced and a corresponding charge to earnings is recognized for anticipated credit losses. Also, for equity securities that are considered o ther-than-temporarily impaired, the excess of the security’s carrying value over its fair value at the evaluation date is accounted for as a loss in the results of operations. The OTTI analysis requires management to consider various factors, which include , but are not limited to: (1) the length of time and the extent to which fair value has been less than the amortized cost basis, (2) the financial condition of the issuer or issuers, (3) actual collateral attributes, (4) the payment structure of the debt s ecurity and the likelihood of the issuer being able to make payments, (5) any rating changes by a rating agency, (6) adverse conditions specifically related to the security, industry, or a geographic area, and (7) management’s intent to sell the debt secur ity or whether it is more likely than not that the Corporation would be required to sell the debt security before a forecasted recovery occurs. At March 31, 2016 , management performed its quarterly analysis of all debt securities in an unrealized loss p osition. Based on the analyses performed, management concluded that no individual debt security was other-than-temporarily impaired as of such date. However, further negative evidence impacting the factors described above with respect to the “Obligations of Puerto Rico, States and political subdivisions”, could result in a charge to earnings to recognize estimated credit losses determined to be other-than-temporary. At March 31, 2016 , the Corporation did not have the intent to sell debt securities in an un realized loss position and it is more likely than not that the Corporation will not have to sell the investment securities prior to recovery of their amortized cost basis. The following table states the name of issuers, and the aggregate amortized cost and fair value of the securities of such issuer (includes available-for-sale and held-to-maturity securities), in which the aggregate amortized cost of such securities exceeds 10% of stockholders’ equity. This information excludes securities backed by the ful l faith and credit of the U.S. Government. Investments in obligations issued by a state of the U.S . and its political subdivisions and agencies, which are payable and secured by the same source of revenue or taxing authority, other than the U.S. Government , are considered securities of a single issuer. March 31, 2016 December 31, 2015 (In thousands) Amortized cost Fair value Amortized cost Fair value FNMA $ 2,799,998 $ 2,824,458 $ 2,649,860 $ 2,633,899 FHLB 329,822 331,546 340,119 338,700 Freddie Mac 1,221,128 1,228,096 1,088,691 1,079,956 |
Held To Maturity Securities Member | |
Investment | Note 8 – Investment securities held-to-maturity The following table s present the amortized cost, gross unrealized gains and losses, approximate fair value, weighted average yield and contractual maturities of investment securities held-to-maturi ty at March 31, 2016 and December 31, 2015 . At March 31, 2016 Gross Gross Weighted Amortized unrealized unrealized Fair average (In thousands) cost gains losses value yield Obligations of Puerto Rico, States and political subdivisions Within 1 year $ 3,050 $ - $ 1,601 $ 1,449 5.91 % After 1 to 5 years 14,270 - 5,910 8,360 6.00 After 5 to 10 years 18,930 - 7,716 11,214 6.17 After 10 years 60,880 5,266 8,320 57,826 1.99 Total obligations of Puerto Rico, States and political subdivisions 97,130 5,266 23,547 78,849 3.52 Collateralized mortgage obligations - federal agencies After 5 to 10 years 86 5 - 91 5.45 Total collateralized mortgage obligations - federal agencies 86 5 - 91 5.45 Other After 1 to 5 years 2,000 - 26 1,974 1.81 Total other 2,000 - 26 1,974 1.81 Total investment securities held-to-maturity [1] $ 99,216 $ 5,271 $ 23,573 $ 80,914 3.49 % [1]Includes $97.5 million pledged to secure public and trust deposits that the secured parties are not permitted to sell or repledge the collateral. At December 31, 2015 Gross Gross Weighted Amortized unrealized unrealized Fair average (In thousands) cost gains losses value yield Obligations of Puerto Rico, States and political subdivisions Within 1 year $ 2,920 $ - $ 291 $ 2,629 5.90 % After 1 to 5 years 13,655 - 5,015 8,640 5.98 After 5 to 10 years 20,020 - 8,020 12,000 6.14 After 10 years 62,222 3,604 8,280 57,546 2.08 Total obligations of Puerto Rico, States and political subdivisions 98,817 3,604 21,606 80,815 3.55 Collateralized mortgage obligations - federal agencies After 5 to 10 years 86 5 - 91 5.45 Total collateralized mortgage obligations - federal agencies 86 5 - 91 5.45 Other After 1 to 5 years 2,000 - 17 1,983 1.81 Total other 2,000 - 17 1,983 1.81 Total investment securities held-to-maturity [1] $ 100,903 $ 3,609 $ 21,623 $ 82,889 3.52 % [1]Includes $57.2 million pledged to secure public and trust deposits that the secured parties are not permitted to sell or repledge the collateral. Securities not due on a single contractual maturity date, such as collateralized mortgage obligations, are classified in the period of final contractual maturity. The expected maturities of collateralized mortgage obligations and certain other securities may differ from their contractual maturities because they may be subject to prepayments or may be called by the issuer. The following table s present the Corporation’s fair value and gross unrealized losses of investment securities held-to-maturity, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at March 31, 2016 and December 31, 2015 . At March 31, 2016 Less than 12 months 12 months or more Total Gross Gross Gross Fair unrealized Fair unrealized Fair unrealized (In thousands) value losses value losses value losses Obligations of Puerto Rico, States and political subdivisions $ - $ - $ 31,393 $ 23,547 $ 31,393 $ 23,547 Other 1,724 26 - - 1,724 26 Total investment securities held-to-maturity in an unrealized loss position $ 1,724 $ 26 $ 31,393 $ 23,547 $ 33,117 $ 23,573 At December 31, 2015 Less than 12 months 12 months or more Total Gross Gross Gross Fair unrealized Fair unrealized Fair unrealized (In thousands) value losses value losses value losses Obligations of Puerto Rico, States and political subdivisions $ - $ - $ 33,334 $ 21,606 $ 33,334 $ 21,606 Other 1,483 17 - - 1,483 17 Total investment securities held-to-maturity in an unrealized loss position $ 1,483 $ 17 $ 33,334 $ 21,606 $ 34,817 $ 21,623 As indicated in Note 7 to these consolidated financial statements, management evaluates investment securities for OTTI declines in fair value on a quarterly basis. The “ Obligations of Puerto Rico, States and political subdivisions” classified as held-to-maturity at March 31, 2016 are primarily associated with securities issued by municipalities of Puerto Rico and are generally not rated by a credit rating agency. This includes $ 55 million of securities issued by three municipalities of Puerto Rico that are payable from the real and personal property taxes collected within such municipalities. These bonds have seniority to the payment of operating cost and expenses of the municipality. The portfolio also includes approximately $ 42 million in securities for which the underlying source of payment is not the central government, but in which it provides a guarantee in the event of default. The Corporation performs periodic credit quality reviews on these issuers. Based on the quarterly analysis performed, management concluded that no individual debt security was other-than-temporarily impaired at March 31, 2016. Further deteriora tion of the fiscal crisis of the Government of Puerto Rico could further affect the value of these securities, resulting in losses to the Corporation. The Corporation does not have the intent to sell securities held-to-maturity and it is more likely than n ot that the Corporation will not have to sell these investment securities prior to recovery of their amortized cost basis. |
Loans
Loans | 3 Months Ended |
Mar. 31, 2016 | |
Receivables | |
Loans | Note 9 – Loans Loans acquired in the Westernbank FDIC-assisted transaction, except for lines of credit with revolving privileges, are accounted for by the Corporation in accordance with ASC Subtopic 310-30. Under ASC Subtopic 310-30, the acquired loans were aggregated into pools based on similar charact eristics. Each loan pool is accounted for as a single asset with a single composite interest rate and an aggregate expectation of cash flows. The loans which are accounted for under ASC Subtopic 310-30 by the Corporation are not considered non-performing a nd will continue to have an accretable yield as long as there is a reasonable expectation about the timing and amount of cash flows expected to be collected. The Corporation measures additional losses for this portfolio when it is probable the Corporation will be unable to collect all cash flows expected at acquisition plus additional cash flows expected to be collected arising from changes in estimates after acquisition. Lines of credit with revolving privileges that were acquired as part of the Westernban k FDIC-assisted transaction are accounted for under the guidance of ASC Subtopic 310-20, which requires that any differences between the contractually required loan payment receivable in excess of the Corporation’s initial investment in the loans be accret ed into interest income. Loans accounted for under ASC Subtopic 310-20 are placed in non-accrual status when past due in accordance with the Corporation’s non-accruing policy and any accretion of discount is discontinued. T he risks on loans acquired in th e FDIC-assisted transaction are significantly different from the risks on loans not covered under the FDIC loss sharing agreements because of the loss protection provided by the FDIC. Accordingly, the Corporation presents loans subject to the loss sharing agreements as “covered loans” in the information below and loans that are not subject to the FDIC loss sharing agreements as “non-covered loans”. The FDIC loss sharing agreements expired on June 30, 2015 for commercial (including construction) and consume r loans, and expires on June 30, 2020 for single-family residential mortgage loans, as explained in Note 11 . For a summary of the accounting policies related to loans, interest recognition and allowance for loan losses refer to Note 2 - Summary of sig nificant accounting policies, of the 2015 Form 10-K . During the quarter ended March 31, 2016 , the Corporation recorded purchases (including repurchases) of mortgage loans amounting to $122 million, consumer loans of $106 million and commercial loans amounting to $51 million. Excluding the impact of the Doral Bank Transaction, during the quarter ended March 31, 2015 , the Corporation recorded purchases of mortgage loans amounting to $169 million. Refer to Note 5 for information on loans acquired as part of the Doral Bank Transaction. The Corporation performed whole-loan sales involving approximately $21 million of residential mortgage loans during the quarter ended March 31, 2016 ( March 31, 2015 - $39 million). Also, during the quarter ended March 31, 2016 , the Corporation securitized approximately $134 million of mortgage loans into Government National Mortgage Association (“GNMA”) mortgage-backed securities and $36 million of m ortgage loans into Federal National Mortgage Association (“FNMA”) mortgage-backed securities, compared to $156 million and $47 million, respectively, during the quarter ended March 31, 2015 . Non-covered loans The following table presents the composition of non-covered loans held-in-portfolio (“HIP”), net of unearned income , by past due status at March 31, 2016 and December 31, 2015, including loans previously covered by the commercial FDIC loss sharing agreeme nts. March 31, 2016 Puerto Rico Past due Non-covered 30-59 60-89 90 days Total loans HIP (In thousands) days days or more past due Current Puerto Rico Commercial multi-family $ 652 $ 168 $ 1,418 $ 2,238 $ 172,413 $ 174,651 Commercial real estate non-owner occupied 46,119 3,102 103,719 152,940 2,506,513 2,659,453 Commercial real estate owner occupied 16,339 6,608 141,443 164,390 1,703,399 1,867,789 Commercial and industrial 7,267 4,297 39,529 51,093 2,615,305 2,666,398 Construction 678 372 13,133 14,183 90,961 105,144 Mortgage 352,313 134,842 823,440 1,310,595 4,789,164 6,099,759 Leasing 7,209 1,598 3,419 12,226 630,916 643,142 Consumer: Credit cards 10,915 7,159 18,864 36,938 1,061,845 1,098,783 Home equity lines of credit 82 141 280 503 9,126 9,629 Personal 12,963 7,693 20,495 41,151 1,150,239 1,191,390 Auto 32,638 6,029 10,844 49,511 776,794 826,305 Other 1,337 282 19,220 20,839 162,145 182,984 Total $ 488,512 $ 172,291 $ 1,195,804 $ 1,856,607 $ 15,668,820 $ 17,525,427 March 31, 2016 U.S. mainland Past due 30-59 60-89 90 days Total Loans HIP (In thousands) days days or more past due Current U.S. mainland Commercial multi-family $ 32 $ - $ 246 $ 278 $ 762,276 $ 762,554 Commercial real estate non-owner occupied 9,556 - 11,155 20,711 969,937 990,648 Commercial real estate owner occupied 3,817 - 193 4,010 219,791 223,801 Commercial and industrial 16,935 156 84,086 101,177 781,918 883,095 Construction 15,091 - 671 15,762 613,952 629,714 Mortgage 18,877 514 12,069 31,460 847,982 879,442 Legacy 3,119 400 4,046 7,565 53,479 61,044 Consumer: Credit cards 187 157 382 726 12,292 13,018 Home equity lines of credit 1,701 845 4,309 6,855 287,405 294,260 Personal 1,624 639 1,429 3,692 240,722 244,414 Auto - - 6 6 18 24 Other - - 10 10 286 296 Total $ 70,939 $ 2,711 $ 118,602 $ 192,252 $ 4,790,058 $ 4,982,310 March 31, 2016 Popular, Inc. Past due Non-covered 30-59 60-89 90 days Total loans HIP (In thousands) days days or more past due Current Popular, Inc. [1] [2] Commercial multi-family $ 684 $ 168 $ 1,664 $ 2,516 $ 934,689 $ 937,205 Commercial real estate non-owner occupied 55,675 3,102 114,874 173,651 3,476,450 3,650,101 Commercial real estate owner occupied 20,156 6,608 141,636 168,400 1,923,190 2,091,590 Commercial and industrial 24,202 4,453 123,615 152,270 3,397,223 3,549,493 Construction 15,769 372 13,804 29,945 704,913 734,858 Mortgage 371,190 135,356 835,509 1,342,055 5,637,146 6,979,201 Leasing 7,209 1,598 3,419 12,226 630,916 643,142 Legacy [3] 3,119 400 4,046 7,565 53,479 61,044 Consumer: Credit cards 11,102 7,316 19,246 37,664 1,074,137 1,111,801 Home equity lines of credit 1,783 986 4,589 7,358 296,531 303,889 Personal 14,587 8,332 21,924 44,843 1,390,961 1,435,804 Auto 32,638 6,029 10,850 49,517 776,812 826,329 Other 1,337 282 19,230 20,849 162,431 183,280 Total $ 559,451 $ 175,002 $ 1,314,406 $ 2,048,859 $ 20,458,878 $ 22,507,737 [1] Non-covered loans held-in-portfolio are net of $111 million in unearned income and exclude $125 million in loans held-for-sale. [2] Includes $7.7 billion pledged to secure credit facilities and public funds that the secured parties are not permitted to sell or repledge the collateral, of which $4.7 billion were pledged at the FHLB as collateral for borrowings, $2.5 billion at the FRB for discount window borrowings and $0.5 billion serve as collateral for public funds. [3] The legacy portfolio is comprised of commercial loans, construction loans and lease financings related to certain lending products exited by the Corporation as part of restructuring efforts carried out in prior years at the BPNA segment. December 31, 2015 Puerto Rico Past due Non-covered 30-59 60-89 90 days Total loans HIP (In thousands) days days or more past due Current Puerto Rico Commercial multi-family $ 459 $ 217 $ 1,316 $ 1,992 $ 130,154 $ 132,146 Commercial real estate non-owner occupied 166,732 12,520 84,982 264,234 2,404,858 2,669,092 Commercial real estate owner occupied 14,245 5,624 138,778 158,647 1,750,597 1,909,244 Commercial and industrial 6,010 6,059 38,464 50,533 2,607,204 2,657,737 Construction 238 253 13,738 14,229 86,719 100,948 Mortgage 344,858 162,341 863,869 1,371,068 4,756,423 6,127,491 Leasing 7,844 1,630 3,009 12,483 615,167 627,650 Consumer: Credit cards 11,078 9,414 19,098 39,590 1,088,755 1,128,345 Home equity lines of credit 186 292 394 872 9,816 10,688 Personal 13,756 7,889 22,625 44,270 1,158,565 1,202,835 Auto 33,554 7,500 11,640 52,694 763,256 815,950 Other 1,069 298 19,232 20,599 167,885 188,484 Total $ 600,029 $ 214,037 $ 1,217,145 $ 2,031,211 $ 15,539,399 $ 17,570,610 December 31, 2015 U.S. mainland Past due 30-59 60-89 90 days Total Loans HIP (In thousands) days days or more past due Current U.S. mainland Commercial multi-family $ 33 $ 253 $ - $ 286 $ 693,647 $ 693,933 Commercial real estate non-owner occupied 160 - 253 413 962,610 963,023 Commercial real estate owner occupied 1,490 429 221 2,140 200,204 202,344 Commercial and industrial 13,647 1,526 75,575 90,748 780,896 871,644 Construction - - - - 580,158 580,158 Mortgage 18,957 3,424 13,538 35,919 872,671 908,590 Legacy 1,160 662 3,649 5,471 58,965 64,436 Consumer: Credit cards 327 134 437 898 13,037 13,935 Home equity lines of credit 3,149 1,114 4,176 8,439 296,045 304,484 Personal 1,836 690 1,240 3,766 168,860 172,626 Auto - - 6 6 22 28 Other - 10 5 15 289 304 Total $ 40,759 $ 8,242 $ 99,100 $ 148,101 $ 4,627,404 $ 4,775,505 December 31, 2015 Popular, Inc. Past due Non-covered 30-59 60-89 90 days Total loans HIP (In thousands) days days or more past due Current Popular, Inc. [1] [2] Commercial multi-family $ 492 $ 470 $ 1,316 $ 2,278 $ 823,801 $ 826,079 Commercial real estate non-owner occupied 166,892 12,520 85,235 264,647 3,367,468 3,632,115 Commercial real estate owner occupied 15,735 6,053 138,999 160,787 1,950,801 2,111,588 Commercial and industrial 19,657 7,585 114,039 141,281 3,388,100 3,529,381 Construction 238 253 13,738 14,229 666,877 681,106 Mortgage 363,815 165,765 877,407 1,406,987 5,629,094 7,036,081 Leasing 7,844 1,630 3,009 12,483 615,167 627,650 Legacy [3] 1,160 662 3,649 5,471 58,965 64,436 Consumer: Credit cards 11,405 9,548 19,535 40,488 1,101,792 1,142,280 Home equity lines of credit 3,335 1,406 4,570 9,311 305,861 315,172 Personal 15,592 8,579 23,865 48,036 1,327,425 1,375,461 Auto 33,554 7,500 11,646 52,700 763,278 815,978 Other 1,069 308 19,237 20,614 168,174 188,788 Total $ 640,788 $ 222,279 $ 1,316,245 $ 2,179,312 $ 20,166,803 $ 22,346,115 [1] Non-covered loans held-in-portfolio are net of $108 million in unearned income and exclude $137 million in loans held-for-sale. [2] Includes $7.3 billion pledged to secure credit facilities and public funds that the secured parties are not permitted to sell or repledge the collateral, of which $4.3 billion were pledged at the FHLB as collateral for borrowings, $2.5 billion at the FRB for discount window borrowings and $0.5 billion serve as collateral for public funds. [3] The legacy portfolio is comprised of commercial loans, construction loans and lease financings related to certain lending products exited by the Corporation as part of restructuring efforts carried out in prior years at the BPNA segment. The following tables present non-covered loans held-in-portfolio by loan class that are in non-performing status or are accruing interest but are past due 90 days or more at March 31, 2016 and 2015 . Accruing loans past due 90 days or more consist primarily of credit cards, FHA / VA and other insured mortgage loans, and delinquent mortgage loans which are included in the Corporation’s financial statements pursuant to GNMA’s 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. At March 31, 2016 Puerto Rico U.S. mainland Popular, Inc. Accruing loans Accruing loans Accruing loans Non-accrual past-due 90 Non-accrual past-due 90 Non-accrual past-due 90 (In thousands) loans days or more [1] loans days or more [1] loans days or more [1] Commercial multi-family $ 1,178 $ - $ 246 $ - $ 1,424 $ - Commercial real estate non-owner occupied 32,310 - 11,155 - 43,465 - Commercial real estate owner occupied 110,972 - 193 - 111,165 - Commercial and industrial 38,179 332 3,398 - 41,577 332 Construction 3,270 - 671 - 3,941 - Mortgage [3] 322,838 406,327 12,069 - 334,907 406,327 Leasing 3,419 - - - 3,419 - Legacy - - 4,046 - 4,046 - Consumer: Credit cards - 18,864 382 - 382 18,864 Home equity lines of credit - 280 4,309 - 4,309 280 Personal 20,023 46 1,429 - 21,452 46 Auto 10,844 - 6 - 10,850 - Other 18,579 588 10 - 18,589 588 Total [2] $ 561,612 $ 426,437 $ 37,914 $ - $ 599,526 $ 426,437 [1] Non-covered loans of $ 288 million accounted for under ASC Subtopic 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 analysis. [2] For purposes of this table non-performing loans exclude $ 43 million in non-performing loans held-for-sale. [3] It is the Corporation’s policy to report delinquent residential mortgage loans insured by FHA or guar anteed by the VA as accruing loans p ast due 90 days or more as opposed to non-performing since the principal repayment is insured. These balances include $ 161 million of residential mortgage loans in Puerto Rico insured by FHA or guaranteed by the VA that are no longer accruing interest as of March 31, 2016 . Furthermore, the Co rporation has approximately $ 68 million in reverse mortgage loans in Puerto Rico which are guaranteed by FHA, but which are currently not accruing interest. Due to the guaranteed nature of the loans, it is the Corporation’s policy to exclude these balances from non-performing assets . At December 31, 2015 Puerto Rico U.S. mainland Popular, Inc. Accruing loans Accruing loans Accruing loans Non-accrual past-due 90 Non-accrual past-due 90 Non-accrual past-due 90 (In thousands) loans days or more [1] loans days or more [1] loans days or more [1] Commercial multi-family $ 1,062 $ - $ - $ - $ 1,062 $ - Commercial real estate non-owner occupied 33,720 - 253 - 33,973 - Commercial real estate owner occupied 106,449 - 221 - 106,670 - Commercial and industrial 36,671 555 3,440 - 40,111 555 Construction 3,550 - - - 3,550 - Mortgage [3] 337,933 426,094 13,538 - 351,471 426,094 Leasing 3,009 - - - 3,009 - Legacy - - 3,649 - 3,649 - Consumer: Credit cards - 19,098 437 - 437 19,098 Home equity lines of credit - 394 4,176 - 4,176 394 Personal 22,102 523 1,240 - 23,342 523 Auto 11,640 - 6 - 11,646 - Other 18,698 61 5 - 18,703 61 Total [2] $ 574,834 $ 446,725 $ 26,965 $ - $ 601,799 $ 446,725 [1 ] Non-covered loans by $ 268 million accounted for under ASC Subtopic 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 analysis. [2] For purposes of this table non-performing loans exclude $ 45 million in non-performing loans held-for-sale. [3] It is the Corporation’s policy to report delinque nt residential mortgage loans insured by FHA or guaranteed by the VA as accruing loans past due 90 days or more as opposed to non-performing since the principal repayment is insured. These balances include $1 64 million of residential mortgage loans in Puer to Rico insured by FHA or guaranteed by the VA that are no longer accruing interest as of December 31, 2015 . Furthermore, the Corporation has approximately $70 million in reverse mortgage loans in Puerto Rico which are guaranteed by FHA, but which are currently not accruing interest. Due to the guaranteed nature of the loans, it is the Corporation’s policy to exclude these balances from non-performing assets . The following table provides a breakdown of loans held-for-sale (“LHFS”) at March 31, 2016 a nd December 31, 2015 b y main categories. (In thousands) March 31, 2016 December 31, 2015 Commercial $ 42,771 $ 45,074 Construction 2 95 Mortgage 82,542 91,831 Total loans held-for-sale $ 125,315 $ 137,000 The following table provides a breakdown of loans held-for-sale (“LHFS”) in non-performing status at March 31, 2016 and December 31, 2015 by main categories. (In thousands) March 31, 2016 December 31, 2015 Commercial $ 42,741 $ 45,074 Construction 2 95 Total $ 42,743 $ 45,169 The following table presents loans acquired as part of the Doral Bank Transaction accounted for under ASC subtopic 310-20 as of the February 27, 2015 acquisition date: (In thousands) Fair value of loans accounted under ASC Subtopic 310-20 $ 1,178,543 Gross contractual amounts receivable (principal and interest) $ 1,666,695 Estimate of contractual cash flows not expected to be collected $ 34,646 Covered loans T he following tables present the composition of loans by past due status at March 31, 2016 and December 31, 2015 for covered loans held-in-portfolio. The information considers covered loans accounted for under ASC Subtopic 310-20 and ASC Subtopic 310-30. March 31, 2016 Past due 30-59 60-89 90 days Total Covered (In thousands) days days or more past due Current loans HIP [1] Mortgage $ 29,539 $ 15,953 $ 77,968 $ 123,460 $ 483,251 $ 606,711 Consumer 1,108 324 1,389 2,821 15,598 18,419 Total covered loans $ 30,647 $ 16,277 $ 79,357 $ 126,281 $ 498,849 $ 625,130 [1] Includes $374 million pledged to secure credit facilities at the FHLB which are not permitted to sell or repledge the collateral. December 31, 2015 Past due 30-59 60-89 90 days Total Covered (In thousands) days days or more past due Current loans HIP [1] Mortgage $ 31,413 $ 16,593 $ 83,132 $ 131,138 $ 495,964 $ 627,102 Consumer 1,246 444 1,283 2,973 16,040 19,013 Total covered loans $ 32,659 $ 17,037 $ 84,415 $ 134,111 $ 512,004 $ 646,115 [1] Includes $386 million pledged to secure credit facilities at the FHLB which are not permitted to sell or repledge the collateral. The following table presents covered loans in non-performing status and accruing loans past-due 90 days or more by loan class at March 31, 2016 and December 31, 2015 . March 31, 2016 December 31, 2015 Non-accrual Accruing loans past Non-accrual Accruing loans past (In thousands) loans due 90 days or more loans due 90 days or more Mortgage $ 3,408 $ - $ 3,790 $ - Consumer 111 - 97 - Total [1] $ 3,519 $ - $ 3,887 $ - [1 ] Covered loans accounted for under ASC Subtopic 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 estim a ted cash flow analyses. The Corporation accounts for lines of credit with revolving privileges under the accounting guidance of ASC Subtopic 310-20, which requires that any differences between the contractually required loans payment receivable in excess of the initial investment in the loans be accreted into interest income over the life of the loans, if the loan is accruing interest. Covered loans accounted for under ASC Subtopic 310-20 amounted to $ 10 million at March 31, 2016 ( December 31, 2015 - $ 10 million) . Loans acquired with deteriorated credit quality accounted for under ASC 310-30 The following provides information of loans acquired with evidence of credit deterioration as of the acquisition date, accounted for under the guidance of ASC 310-30. Loans acquired from Westernbank as part of an FDIC-assisted transaction The carrying amount of the Westernbank loans consisted of loans determined to be impaired at the time of acquisition, which are accounted for in accordance with ASC Subtopic 310-30 (“c redit impaired loans”), and loans that were considered to be performing at the acquisition date, accounted for by analogy to ASC Subtopic 310-30 (“non-credit impaired loans”), as detailed in the following table. March 31, 2016 [1] December 31, 2015 [1] Carrying amount Carrying amount (In thousands) Non-credit impaired loans Credit impaired loans Total Non-credit impaired loans Credit impaired loans Total Commercial real estate $ 1,104,257 $ 30,090 $ 1,134,347 $ 1,114,368 $ 35,393 $ 1,149,761 Commercial and industrial 83,267 519 83,786 84,765 519 85,284 Construction 8,479 6,026 14,505 8,943 6,027 14,970 Mortgage 647,739 31,627 679,366 667,023 33,090 700,113 Consumer 22,198 1,239 23,437 23,047 1,326 24,373 Carrying amount 1,865,940 69,501 1,935,441 1,898,146 76,355 1,974,501 Allowance for loan losses (58,703) (4,264) (62,967) (59,753) (3,810) (63,563) Carrying amount, net of allowance $ 1,807,237 $ 65,237 $ 1,872,474 $ 1,838,393 $ 72,545 $ 1,910,938 [1] The carrying amount of loans acquired from Westernbank and accounted for under ASC 310-30 which remains subject to the loss sharing agreement with the FDIC amounted to approximately $615 million as of March 31, 2016 and $636 million as of December 31, 2015. The outstanding principal balance of Westernbank loans accounted pursuant to ASC Subtopic 310-30, amounted to $ 2.4 billion at March 31, 2016 (December 31, 2015 - $ 2.4 billion). At March 31, 2016 , none of the acquired loans from the Westernbank FDIC-assisted transaction accounted for under ASC Subtopic 310-30 were considered non-performing loans. Therefore, interest income, through accretion of the difference between the carrying amount of the loan s and the expected cash flows, was recognized on all acquired loans. Changes in the carrying amount and the accretable yield for the Westernbank loans accounted pursuant to the ASC Subtopic 310-30, for the quarters ended March 31, 2016 and 2015 , w ere as follows: Activity in the accretable yield Westernbank loans ASC 310-30 For the quarters ended March 31, 2016 March 31, 2015 Non-credit Credit Non-credit Credit (In thousands) impaired loans impaired loans Total impaired loans impaired loans Total Beginning balance $ 1,105,732 $ 6,726 $ 1,112,458 $ 1,265,752 $ 5,585 $ 1,271,337 Accretion (42,000) (1,533) (43,533) (53,776) (1,921) (55,697) Change in expected cash flows 54,544 5,339 59,883 42,273 1,035 43,308 Ending balance $ 1,118,276 $ 10,532 $ 1,128,808 $ 1,254,249 $ 4,699 $ 1,258,948 Carrying amount of Westernbank loans accounted for pursuant to ASC 310-30 For the quarters ended March 31, 2016 [1] March 31, 2015 Non-credit Credit Non-credit Credit (In thousands) impaired loans impaired loans Total impaired loans impaired loans Total Beginning balance $ 1,898,146 $ 76,355 $ 1,974,501 $ 2,272,142 $ 172,030 $ 2,444,172 Accretion 42,000 1,533 43,533 53,776 1,921 55,697 Collections and charge-offs (74,206) (8,387) (82,593) (114,137) (18,636) (132,773) Ending balance $ 1,865,940 $ 69,501 $ 1,935,441 $ 2,211,781 $ 155,315 $ 2,367,096 Allowance for loan losses ASC 310-30 Westernbank loans (58,703) (4,264) (62,967) (49,750) (18,636) (68,386) Ending balance, net of ALLL $ 1,807,237 $ 65,237 $ 1,872,474 $ 2,162,031 $ 136,679 $ 2,298,710 [1] The carrying amount of loans acquired from Westernbank and accounted for under ASC 310-30 which remain subject to the loss sharing agreement with the FDIC amounted to approximately $ 615 million as of March 31, 2016. Other loans acquired with deteriorated credit quality T he outstanding principal balance of other acquired loans accounted pursuant to ASC Subtopic 310-30, amounted to $ 713 m illion at March 31, 2016 (December 31, 2015 - $710 million). At March 31, 2016 , none of the other acquired loans accounted under ASC Subtopic 310-30 were considered non-performing loans. Therefore, interest income, through accretion of the difference between the carrying amount of the loans and the expected cash flows, w as recognized on all acquired loans. Changes in the carrying amount and the accretable yield for the other acquired loans accounted pursuant to the ASC Subtopic 310-30, for the quarters ended March 31, 2016 and 2015 were as follows: Activity in the accretable yield - Other acquired loans ASC 310-30 For the quarters ended (In thousands) March 31, 2016 March 31, 2015 Beginning balance $ 221,128 $ 116,304 Additions 4,340 50,662 Accretion (8,555) (3,223) Change in expected cash flows 50,855 (5,319) Ending balance $ 267,768 $ 158,424 Carrying amount of other acquired loans accounted for pursuant to ASC 310-30 For the quarters ended (In thousands) March 31, 2016 March 31, 2015 Beginning balance $ 564,050 $ 212,763 Purchase accounting adjustments related to the Doral Bank Transaction (Refer to Note 5) (4,707) - Additions 10,051 157,091 Accretion 8,555 3,223 Collections and charge-offs (15,226) (9,980) Ending balance $ 562,723 $ 363,097 Allowance for loan losses ASC 310-30 non-covered loans (15,258) (16,092) Ending balance, net of allowance for loan losses $ 547,465 $ 347,005 T he following table presents loans acquired as part of the Doral Bank T ransaction account ed for pursuant to ASC Subto pic 310-30 at the February 27, 2015 acquisition date. (In thousands) Contractually-required principal and interest $ 560,833 Non-accretable difference 112,153 Cash flows expected to be collected 448,680 Accretable yield 113,977 Fair value of loans accounted for under ASC Subtopic 310-30 $ 334,703 |
Allowance for loan losses
Allowance for loan losses | 3 Months Ended |
Mar. 31, 2016 | |
Loans and Leases Receivable, Allowance Abstract | |
Allowance for loan losses | Note 10 – Allowance for loan losses The Corporation follows a systematic methodology to establish and evaluate the adequacy of the allowance for loan losses to provide for inherent losses in the loan portfolio. This methodology includes the consideration of factors such as current economic conditions, portfolio risk characteristics, prior loss experience and results of periodic credit reviews of individual loans. The provision for loan losses charged to current operations is based on this met hodology. Loan losses are charged and recoveries are credited to the allowance for loan losses. The Corporation’s assessment of the allowance for loan losses is determined in accordance with the guidance of loss contingencies in ASC Subtopic 450-20 and loa n impairment guidance in ASC Section 310-10-35. Also, the Corporation determines the allowance for loan losses on purchased impaired loans and purchased loans accounted for under ASC Subtopic 310-30, by evaluating decreases in expected cash flows after the acquisition date. The accounting guidance provides for the recognition of a loss allowance for groups of homogeneous loans. The determination for general reserves of the allowance for loan losses includes the following principal factors: Base net loss r ates, which are based on the moving average of annualized net loss rates computed over a 5-year historical loss period for the commercial and construction loan portfolios, and an 18-month period for the consumer and mortgage loan portfolios. The base net loss rates are applied by loan type and by legal entity. Recent loss trend adjustment, which replaces the base loss rate with a 12-month average loss rate, when these trends are higher than the respective base loss rates. The objective of this adjustment i s to allow for a more recent loss trend to be captured and reflected in the ALLL estimation process. For the period ended March 31, 2016 , 44% ( March 31, 2015 - 59%) of the ALLL for non-covered BPPR segment loan portfolios utilized the recent loss tr end adjustment instead of the base loss. The effect of replacing the base loss with the recent loss trend adjustment was mainly concentrated in the mortgage, commercial multi-family and commercial and industrial loan portfolios for 2016 , and in the con sumer and mortgage loan portfolios for 2015 . For the period ended March 31, 2016 , 2% ( March 31, 2015 - 13%) of the ALLL for BPNA segment loan portfolios utilized the recent loss trend adjustment instead of the base loss. The effect of replacing the base loss with the recent loss trend adjustment was concentrated in the consumer loan portfolio for 2016 and in the consumer loan portfolio for 2015 . Environmental factors, which include credit and macroeconomic indicators such as unemployment rate, economic activity index and delinquency rates, adopted to account for current market conditions that are likely to cause estimated credit losses to differ from historical losses. The Corporation reflects the effect of these environmental factors on each lo an group as an adjustment that, as appropriate, increases the historical loss rate applied to each group. Environmental factors provide updated perspective on credit and economic conditions. Regression analysis is used to select these indicators and quanti fy the effect on the general reserve of the allowance for loan losses. The following tables present the changes in the allowance for loan losses, loan ending balances and whether such loans and the allowance pertain to loans individually or collectively evaluated for impairmen t for the quarters ended March 31, 2016 and 2015 . For the quarter ended March 31, 2016 Puerto Rico - Non-covered loans (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses: Beginning balance $ 186,925 $ 4,957 $ 128,327 $ 10,993 $ 138,721 $ 469,923 Provision (reversal of provision) 13,369 (409) 10,869 1,680 18,362 43,871 Charge-offs (8,968) (544) (15,972) (2,127) (27,379) (54,990) Recoveries 6,264 233 1,276 489 6,081 14,343 Ending balance $ 197,590 $ 4,237 $ 124,500 $ 11,035 $ 135,785 $ 473,147 Specific ALLL $ 55,098 $ 172 $ 41,660 $ 608 $ 24,326 $ 121,864 General ALLL $ 142,492 $ 4,065 $ 82,840 $ 10,427 $ 111,459 $ 351,283 Loans held-in-portfolio: Impaired non-covered loans $ 338,980 $ 2,020 $ 471,183 $ 2,391 $ 109,920 $ 924,494 Non-covered loans held-in-portfolio excluding impaired loans 7,029,311 103,124 5,628,576 640,751 3,199,171 16,600,933 Total non-covered loans held-in-portfolio $ 7,368,291 $ 105,144 $ 6,099,759 $ 643,142 $ 3,309,091 $ 17,525,427 For the quarter ended March 31, 2016 Puerto Rico - Covered loans (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses: Beginning balance $ - $ - $ 33,967 $ - $ 209 $ 34,176 Provision (reversal of provision) - - (3,149) - 44 (3,105) Charge-offs - - (1,221) - (33) (1,254) Recoveries - - 225 - 3 228 Ending balance $ - $ - $ 29,822 $ - $ 223 $ 30,045 Specific ALLL $ - $ - $ - $ - $ - $ - General ALLL $ - $ - $ 29,822 $ - $ 223 $ 30,045 Loans held-in-portfolio: Impaired covered loans $ - $ - $ - $ - $ - $ - Covered loans held-in-portfolio excluding impaired loans - - 606,711 - 18,419 625,130 Total covered loans held-in-portfolio $ - $ - $ 606,711 $ - $ 18,419 $ 625,130 For the quarter ended March 31, 2016 U.S. Mainland (In thousands) Commercial Construction Mortgage Legacy Consumer Total Allowance for credit losses: Beginning balance $ 9,908 $ 3,912 $ 4,985 $ 2,687 $ 11,520 $ 33,012 Provision (reversal of provision) (116) 827 344 (450) 3,464 4,069 Charge-offs (495) - (441) (109) (2,648) (3,693) Recoveries 290 - 211 356 1,035 1,892 Ending balance $ 9,587 $ 4,739 $ 5,099 $ 2,484 $ 13,371 $ 35,280 Specific ALLL $ - $ - $ 1,592 $ - $ 581 $ 2,173 General ALLL $ 9,587 $ 4,739 $ 3,507 $ 2,484 $ 12,790 $ 33,107 Loans held-in-portfolio: Impaired loans $ - $ - $ 7,909 $ - $ 2,247 $ 10,156 Loans held-in-portfolio excluding impaired loans 2,860,098 629,714 871,533 61,044 549,765 4,972,154 Total loans held-in-portfolio $ 2,860,098 $ 629,714 $ 879,442 $ 61,044 $ 552,012 $ 4,982,310 For the quarter ended March 31, 2016 Popular, Inc. (In thousands) Commercial Construction Mortgage Legacy Leasing Consumer Total Allowance for credit losses: Beginning balance $ 196,833 $ 8,869 $ 167,279 $ 2,687 $ 10,993 $ 150,450 $ 537,111 Provision (reversal of provision) 13,253 418 8,064 (450) 1,680 21,870 44,835 Charge-offs (9,463) (544) (17,634) (109) (2,127) (30,060) (59,937) Recoveries 6,554 233 1,712 356 489 7,119 16,463 Ending balance $ 207,177 $ 8,976 $ 159,421 $ 2,484 $ 11,035 $ 149,379 $ 538,472 Specific ALLL $ 55,098 $ 172 $ 43,252 $ - $ 608 $ 24,907 $ 124,037 General ALLL $ 152,079 $ 8,804 $ 116,169 $ 2,484 $ 10,427 $ 124,472 $ 414,435 Loans held-in-portfolio: Impaired loans $ 338,980 $ 2,020 $ 479,092 $ - $ 2,391 $ 112,167 $ 934,650 Loans held-in-portfolio excluding impaired loans 9,889,409 732,838 7,106,820 61,044 640,751 3,767,355 22,198,217 Total loans held-in-portfolio $ 10,228,389 $ 734,858 $ 7,585,912 $ 61,044 $ 643,142 $ 3,879,522 $ 23,132,867 For the quarter ended March 31, 2015 Puerto Rico - Non-covered loans (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses: Beginning balance $ 201,589 $ 5,483 $ 120,860 $ 7,131 $ 154,072 $ 489,135 Provision (reversal of provision) (1,321) (6,813) 16,192 846 23,009 31,913 Charge-offs (9,572) - (10,973) (1,237) (29,699) (51,481) Recoveries 4,770 2,925 500 468 6,046 14,709 Ending balance $ 195,466 $ 1,595 $ 126,579 $ 7,208 $ 153,428 $ 484,276 Specific ALLL $ 69,946 $ 158 $ 42,229 $ 687 $ 25,223 $ 138,243 General ALLL $ 125,520 $ 1,437 $ 84,350 $ 6,521 $ 128,205 $ 346,033 Loans held-in-portfolio: Impaired non-covered loans $ 417,377 $ 9,838 $ 445,506 $ 2,924 $ 114,416 $ 990,061 Non-covered loans held-in-portfolio excluding impaired loans 5,984,132 88,868 5,725,741 578,195 3,237,790 15,614,726 Total non-covered loans held-in-portfolio $ 6,401,509 $ 98,706 $ 6,171,247 $ 581,119 $ 3,352,206 $ 16,604,787 For the quarter ended March 31, 2015 Puerto Rico - Covered Loans (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses: Beginning balance $ 30,871 $ 7,202 $ 40,948 $ - $ 3,052 $ 82,073 Provision (reversal of provision) 1,995 6,276 2,802 - (749) 10,324 Charge-offs (14,239) (9,046) (3,386) - - (26,671) Recoveries 2,640 3,275 105 - 727 6,747 Ending balance $ 21,267 $ 7,707 $ 40,469 $ - $ 3,030 $ 72,473 Specific ALLL $ 1,473 $ - $ - $ - $ - $ 1,473 General ALLL $ 19,794 $ 7,707 $ 40,469 $ - $ 3,030 $ 71,000 Loans held-in-portfolio: Impaired covered loans $ 8,394 $ 2,336 $ - $ - $ - $ 10,730 Covered loans held-in-portfolio excluding impaired loans 1,562,753 55,489 795,477 - 32,103 2,445,822 Total covered loans held-in-portfolio $ 1,571,147 $ 57,825 $ 795,477 $ - $ 32,103 $ 2,456,552 For the quarter ended March 31, 2015 U.S. Mainland - Continuing Operations (In thousands) Commercial Construction Mortgage Legacy Consumer Total Allowance for credit losses: Beginning balance $ 9,648 $ 1,187 $ 2,462 $ 2,944 $ 14,343 $ 30,584 Provision (reversal of provision) 299 662 (6,127) (1,810) 4,774 (2,202) Charge-offs (450) - (221) (474) (2,518) (3,663) Recoveries 929 - 67 2,302 1,251 4,549 Net recoveries (write-down) - - 6,081 - (3,401) 2,680 Ending balance $ 10,426 $ 1,849 $ 2,262 $ 2,962 $ 14,449 $ 31,948 Specific ALLL $ - $ - $ 341 $ - $ 381 $ 722 General ALLL $ 10,426 $ 1,849 $ 1,921 $ 2,962 $ 14,068 $ 31,226 Loans held-in-portfolio: Impaired loans $ - $ - $ 5,106 $ - $ 2,048 $ 7,154 Loans held-in-portfolio excluding impaired loans 2,252,052 592,022 1,012,874 77,675 466,366 4,400,989 Total loans held-in-portfolio $ 2,252,052 $ 592,022 $ 1,017,980 $ 77,675 $ 468,414 $ 4,408,143 For the quarter ended March 31, 2015 Popular, Inc. (In thousands) Commercial Construction Mortgage Legacy Leasing Consumer Total Allowance for credit losses: Beginning balance $ 242,108 $ 13,872 $ 164,270 $ 2,944 $ 7,131 $ 171,467 $ 601,792 Provision (reversal of provision) 973 125 12,867 (1,810) 846 27,034 40,035 Charge-offs (24,261) (9,046) (14,580) (474) (1,237) (32,217) (81,815) Recoveries 8,339 6,200 672 2,302 468 8,024 26,005 Net recoveries (write-down) - - 6,081 - - (3,401) 2,680 Ending balance $ 227,159 $ 11,151 $ 169,310 $ 2,962 $ 7,208 $ 170,907 $ 588,697 Specific ALLL $ 71,419 $ 158 $ 42,570 $ - $ 687 $ 25,604 $ 140,438 General ALLL $ 155,740 $ 10,993 $ 126,740 $ 2,962 $ 6,521 $ 145,303 $ 448,259 Loans held-in-portfolio: Impaired loans $ 425,771 $ 12,174 $ 450,612 $ - $ 2,924 $ 116,464 $ 1,007,945 Loans held-in-portfolio excluding impaired loans 9,798,937 736,379 7,534,092 77,675 578,195 3,736,259 22,461,537 Total loans held-in-portfolio $ 10,224,708 $ 748,553 $ 7,984,704 $ 77,675 $ 581,119 $ 3,852,723 $ 23,469,482 The following table provides the activity in the allowance for loan losses related to Westernbank loans accounted for pursuant to ASC Subtopic 310-30 . ASC 310-30 Westernbank loans For the quarters ended (In thousands) March 31, 2016 March 31, 2015 Balance at beginning of period $ 63,563 $ 78,846 Provision for loan losses 1,791 8,601 Net charge-offs (2,387) (19,061) Balance at end of period $ 62,967 $ 68,386 Impaired loans The following tables prese nt loans individually evaluated for impairment at March 31, 2016 and December 31, 2015 . March 31, 2016 Puerto Rico Impaired Loans – With an Impaired Loans Allowance With No Allowance Impaired Loans - Total Unpaid Unpaid Unpaid Recorded principal Related Recorded principal Recorded principal Related (In thousands) investment balance allowance investment balance investment balance allowance Commercial real estate non-owner occupied $ 107,706 $ 112,100 $ 37,638 $ 13,636 $ 23,754 $ 121,342 $ 135,854 $ 37,638 Commercial real estate owner occupied 120,121 139,841 10,888 38,763 63,165 158,884 203,006 10,888 Commercial and industrial 39,347 40,849 6,572 19,407 21,525 58,754 62,374 6,572 Construction 2,020 5,472 172 - - 2,020 5,472 172 Mortgage 418,321 460,813 41,660 52,862 62,090 471,183 522,903 41,660 Leasing 2,391 2,391 608 - - 2,391 2,391 608 Consumer: Credit cards 37,778 37,778 5,963 - - 37,778 37,778 5,963 Personal 67,834 67,834 17,517 - - 67,834 67,834 17,517 Auto 3,863 3,863 771 - - 3,863 3,863 771 Other 445 445 75 - - 445 445 75 Total Puerto Rico $ 799,826 $ 871,386 $ 121,864 $ 124,668 $ 170,534 $ 924,494 $ 1,041,920 $ 121,864 March 31, 2016 U.S. mainland Impaired Loans – With an Impaired Loans Allowance With No Allowance Impaired Loans - Total Unpaid Unpaid Unpaid Recorded principal Related Recorded principal Recorded principal Related (In thousands) investment balance allowance investment balance investment balance allowance Mortgage $ 4,774 $ 5,487 $ 1,592 $ 3,135 $ 3,903 $ 7,909 $ 9,390 $ 1,592 Consumer: HELOCs 921 921 352 715 715 1,636 1,636 352 Personal 530 530 229 81 81 611 611 229 Total U.S. mainland $ 6,225 $ 6,938 $ 2,173 $ 3,931 $ 4,699 $ 10,156 $ 11,637 $ 2,173 March 31, 2016 Popular, Inc. Impaired Loans – With an Impaired Loans Allowance With No Allowance Impaired Loans - Total Unpaid Unpaid Unpaid Recorded principal Related Recorded principal Recorded principal Related (In thousands) investment balance allowance investment balance investment balance allowance Commercial real estate non-owner occupied $ 107,706 $ 112,100 $ 37,638 $ 13,636 $ 23,754 $ 121,342 $ 135,854 $ 37,638 Commercial real estate owner occupied 120,121 139,841 10,888 38,763 63,165 158,884 203,006 10,888 Commercial and industrial 39,347 40,849 6,572 19,407 21,525 58,754 62,374 6,572 Construction 2,020 5,472 172 - - 2,020 5,472 172 Mortgage 423,095 466,300 43,252 55,997 65,993 479,092 532,293 43,252 Leasing 2,391 2,391 608 - - 2,391 2,391 608 Consumer: Credit Cards 37,778 37,778 5,963 - - 37,778 37,778 5,963 HELOCs 921 921 352 715 715 1,636 1,636 352 Personal 68,364 68,364 17,746 81 81 68,445 68,445 17,746 Auto 3,863 3,863 771 - - 3,863 3,863 771 Other 445 445 75 - - 445 445 75 Total Popular, Inc. $ 806,051 $ 878,324 $ 124,037 $ 128,599 $ 175,233 $ 934,650 $ 1,053,557 $ 124,037 December 31, 2015 Puerto Rico Impaired Loans – With an Impaired Loans Allowance With No Allowance Impaired Loans - Total Unpaid Unpaid Unpaid Recorded principal Related Recorded principal Recorded principal Related (In thousands) investment balance allowance investment balance investment balance allowance Commercial real estate non-owner occupied $ 102,199 $ 106,466 $ 30,980 $ 13,779 $ 23,896 $ 115,978 $ 130,362 $ 30,980 Commercial real estate owner occupied 118,253 137,193 12,564 38,955 63,383 157,208 200,576 12,564 Commercial and industrial 42,043 43,629 5,699 21,904 32,922 63,947 76,551 5,699 Construction 2,481 7,878 264 - - 2,481 7,878 264 Mortgage 424,885 468,240 42,965 40,232 45,881 465,117 514,121 42,965 Leasing 2,404 2,404 573 - - 2,404 2,404 573 Consumer: Credit cards 38,734 38,734 6,675 - - 38,734 38,734 6,675 Personal 68,509 68,509 16,365 - - 68,509 68,509 16,365 Auto 1,893 1,893 338 - - 1,893 1,893 338 Other 524 525 100 - - 524 525 100 Total Puerto Rico $ 801,925 $ 875,471 $ 116,523 $ 114,870 $ 166,082 $ 916,795 $ 1,041,553 $ 116,523 December 31, 2015 U.S. mainland Impaired Loans – With an Impaired Loans Allowance With No Allowance Impaired Loans - Total Unpaid Unpaid Unpaid Recorded principal Related Recorded principal Recorded principal Related (In thousands) investment balance allowance investment balance investment balance allowance Mortgage $ 4,143 $ 5,018 $ 1,064 $ 2,672 $ 3,574 $ 6,815 $ 8,592 $ 1,064 Consumer: HELOCs 778 796 259 783 783 1,561 1,579 259 Personal 534 534 226 81 81 615 615 226 Total U.S. mainland $ 5,455 $ 6,348 $ 1,549 $ 3,536 $ 4,438 $ 8,991 $ 10,786 $ 1,549 December 31, 2015 Popular, Inc. Impaired Loans – With an Impaired Loans Allowance With No Allowance Impaired Loans - Total Unpaid Unpaid Unpaid Recorded principal Related Recorded principal Recorded principal Related (In thousands) investment balance allowance investment balance investment balance allowance Commercial real estate non-owner occupied $ 102,199 $ 106,466 $ 30,980 $ 13,779 $ 23,896 $ 115,978 $ 130,362 $ 30,980 Commercial real estate owner occupied 118,253 137,193 12,564 38,955 63,383 157,208 200,576 12,564 Commercial and industrial 42,043 43,629 5,699 21,904 32,922 63,947 76,551 5,699 Construction 2,481 7,878 264 - - 2,481 7,878 264 Mortgage 429,028 473,258 44,029 42,904 49,455 471,932 522,713 44,029 Leasing 2,404 2,404 573 - - 2,404 2,404 573 Consumer: Credit Cards 38,734 38,734 6,675 - - 38,734 38,734 6,675 HELOCs 778 796 259 783 783 1,561 1,579 259 Personal 69,043 69,043 16,591 81 81 69,124 69,124 16,591 Auto 1,893 1,893 338 - - 1,893 1,893 338 Other 524 525 100 - - 524 525 100 Total Popular, Inc. $ 807,380 $ 881,819 $ 118,072 $ 118,406 $ 170,520 $ 925,786 $ 1,052,339 $ 118,072 The following tables present the average recorded investment and interest income recognized on impaired loans for the quarters ended March 31, 2016 and 2015 . For the quarter ended March 31, 2016 Puerto Rico U.S. Mainland Popular, Inc. Average Interest Average Interest Average Interest recorded income recorded income recorded income (In thousands) investment recognized investment recognized investment recognized Commercial real estate non-owner occupied $ 118,660 $ 1,159 $ - $ - $ 118,660 $ 1,159 Commercial real estate owner occupied 158,046 1,393 - - 158,046 1,393 Commercial and industrial 61,351 516 - - 61,351 516 Construction 2,251 21 - - 2,251 21 Mortgage 468,150 3,387 7,362 - 475,512 3,387 Leasing 2,398 - - - 2,398 - Consumer: Credit cards 38,256 - - - 38,256 - Helocs - - 1,599 - 1,599 - Personal 68,172 - 613 - 68,785 - Auto 2,878 - - - 2,878 - Other 485 - - - 485 - Total Popular, Inc. $ 920,647 $ 6,476 $ 9,574 $ - $ 930,221 $ 6,476 For the quarter ended March 31, 2015 Puerto Rico U.S. Mainland Popular, Inc. Average Interest Average Interest Average Interest recorded income recorded income recorded income (In thousands) investment recognized investment recognized investment recognized Commercial multi-family $ 276 $ - $ - $ - $ 276 $ - Commercial real estate non-owner occupied 88,773 1,140 - - 88,773 1,140 Commercial real estate owner occupied 127,969 2,166 - - 127,969 2,166 Commercial and industrial 170,127 4,432 125 - 170,252 4,432 Construction 11,553 - - - 11,553 - Mortgage 438,538 4,453 4,681 13 443,219 4,466 Leasing 2,974 - - - 2,974 - Consumer: Credit cards 41,337 - - - 41,337 - Helocs - - 1,762 - 1,762 - Personal 71,241 - 206 - 71,447 - Auto 1,984 - - - 1,984 - Other 526 - 44 - 570 - Covered loans 8,818 35 - - 8,818 35 Total Popular, Inc. $ 964,116 $ 12,226 $ 6,818 $ 13 $ 970,934 $ 12,239 Modifications Troubled debt restructurings related to non-covered loan portfolios amounted to $ 1.2 billion at March 31, 2016 (December 31, 2015 - $ 1.2 billion). The amount of outstanding commitments to lend additional funds to debtors owing receivables whose terms have been modified in troubled debt restructurings amounted $ 9 million related to the commercial loan portfolio at March 31, 2016 (December 31, 2015 - $ 11 million). A modification of a loan co nstitutes a troubled debt restructuring (“TDR”) when a borrower is experiencing financial difficulty and the modification constitutes a concession. For a summary of the accounting policy related to TDRs, refer to the summary of significant accounting polic ies included in Note 2 of the 2015 Form 10-K . The following tables present the non-covered and covered loans classified as TDRs according to their accruing status at March 31, 2016 and December 31, 2015 . Popular, Inc. Non-Covered Loans March 31, 2016 December 31, 2015 (In thousands) Accruing Non-Accruing Total Related Allowance Accruing Non-Accruing Total Related Allowance Commercial $ 170,534 $ 87,841 $ 258,375 $ 47,571 $ 166,415 $ 88,117 $ 254,532 $ 37,355 Construction 194 1,826 2,020 172 221 2,259 2,480 264 Mortgage 679,719 120,694 800,413 43,252 644,013 130,483 774,496 44,029 Leases 1,749 642 2,391 608 1,791 609 2,400 573 Consumer 104,133 12,576 116,709 24,907 104,630 12,805 117,435 23,963 Total $ 956,329 $ 223,579 $ 1,179,908 $ 116,510 $ 917,070 $ 234,273 $ 1,151,343 $ 106,184 Popular, Inc. Covered Loans March 31, 2016 December 31, 2015 (In thousands) Accruing Non-Accruing Total Related Allowance Accruing Non-Accruing Total Related Allowance Mortgage $ 2,958 $ 2,500 $ 5,458 $ - $ 3,328 $ 3,268 $ 6,596 $ - Total $ 2,958 $ 2,500 $ 5,458 $ - $ 3,328 $ 3,268 $ 6,596 $ - The following tables present the loan count by type of modification for those loans modified in a TDR during the quarters ended March 31, 2016 and 2015 . Puerto Rico For the quarter ended March 31, 2016 Reduction in interest rate Extension of maturity date Combination of reduction in interest rate and extension of maturity date Other Commercial real estate non-owner occupied 1 1 - - Commercial real estate owner occupied 16 1 - - Commercial and industrial 6 - - - Mortgage 20 10 112 54 Consumer: Credit cards 175 - - 174 Personal 261 5 - - Auto - 2 2 - Other 10 - - - Total 489 19 114 228 U.S. mainland For the quarter ended March 31, 2016 Reduction in interest rate Extension of maturity date Combination of reduction in interest rate and extension of maturity date Other Mortgage - - 11 1 Consumer: HELOCs - - 1 - Total - - 12 1 Popular, Inc. For the quarter ended March 31, 2016 Reduction in interest rate Extension of maturity date Combination of reduction in interest rate and extension of maturity date Other Commercial real estate non-owner occupied 1 1 - - Commercial real estate owner occupied 16 1 - - Commercial and industrial 6 - - - Mortgage 20 10 123 55 Leasing - - - - Consumer: Credit cards 175 - - 174 HELOCs - - 1 - Personal 261 5 - - Auto - 2 2 - Other 10 - - - Total 489 19 126 229 Puerto Rico For the quarter ended March 31, 2015 Reduction in interest rate Extension of maturity date Combination of reduction in interest rate and extension of maturity date Other Commercial multi-family - 2 - - Commercial real estate non-owner occupied 2 1 - - Commercial real estate owner occupied 2 3 - - Commercial and industrial 5 5 - - Construction 1 - - - Mortgage 13 19 98 15 Leasing - 1 12 - Consumer: Credit cards 228 - - 187 Personal 228 14 - - Auto - 2 2 - Other 11 - - - Total 490 47 112 202 U.S. mainland For the quarter ended March 31, 2015 Reduction in interest rate Extension of maturity date Combination of reduction in interest rate and extension of maturity date Other Mortgage - 1 8 - Consumer: HELOCs - - - 1 Total - 1 8 1 Popular, Inc. For the quarter ended March 31, 2015 Reduction in interest rate Extension of maturity date Combination of reduction in interest rate and extension of maturity date Other Commercial multi-family - 2 - - Commercial real estate non-owner occupied 2 1 - - Commercial real estate owner occupied 2 3 - - Commercial and industrial 5 5 - - Construction 1 - - - Mortgage 13 20 106 15 Leasing - 1 12 - Consumer: Credit cards 228 - - 187 HELOCs - - - 1 Personal 228 14 - - Auto - 2 2 - Other 11 - - - Total 490 48 120 203 The following tables present by class, quantitative information related to loans modified as TDRs during the quarters ended March 31, 2016 and 2015 . Puerto Rico For the quarter ended March 31, 2016 (Dollars in thousands) Loan count Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Increase (decrease) in the allowance for loan losses as a result of modification Commercial real estate non-owner occupied 2 $ 6,323 $ 6,307 $ 4,163 Commercial real estate owner occupied 17 3,095 3,149 136 Commercial and industrial 6 2,529 2,527 5 Mortgage 196 24,405 23,244 1,806 Consumer: Credit cards 349 3,256 3,665 576 Personal 266 4,413 4,411 887 Auto 4 72 76 12 Other 10 23 24 4 Total 850 $ 44,116 $ 43,403 $ 7,589 U.S. Mainland For the quarter ended March 31, 2016 (Dollars in thousands) Loan count Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Increase (decrease) in the allowance for loan losses as a result of modification Mortgage 12 $ 1,167 $ 1,230 $ 423 Consumer: HELOCs 1 147 147 77 Total 13 $ 1,314 $ 1,377 $ 500 Popular, Inc. For the quarter ended March 31, 2016 (Dollars in thousands) Loan count Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Increase (decrease) in the allowance for loan losses as a result of modification Commercial real estate non-owner occupied 2 $ 6,323 $ 6,307 $ 4,163 Commercial real estate owner occupied 17 3,095 3,149 136 Commercial and industrial 6 2,529 2,527 5 Mortgage 208 25,572 24,474 2,229 Consumer: Credit cards 349 3,256 3,665 576 HELOCs 1 147 147 77 Personal 266 4,413 4,411 887 Auto 4 72 76 12 Other 10 23 24 4 Total 863 $ 45,430 $ 44,780 $ 8,089 Puerto Rico For the quarter ended March 31, 2015 (Dollars in thousands) Loan count Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Increase (decrease) in the allowance for loan losses as a result of modification Commercial multi-family 2 $ 551 $ 551 $ 2 Commercial real estate non-owner occupied 3 18,000 17,998 2,986 Commercial real estate owner occupied 5 4,759 4,552 171 Commercial and industrial 10 5,534 5,889 224 Construction 1 268 259 (166) Mortgage 145 15,902 16,766 1,339 Leasing 13 323 325 73 Consumer: Credit cards 415 3,617 4,066 629 Personal 242 4,502 4,500 967 Auto 4 - 51 8 Other 11 29 29 5 Total 851 $ 53,485 $ 54,986 $ 6,238 U.S. Mainland For the quarter ended March 31, 2015 (Dollars in thousands) Loan count Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Increase (decrease) in the allowance for loan losses as a result of modification Mortgage 9 $ 468 $ 1,465 $ 82 Consumer: HELOCs 1 - 92 9 Total 10 $ 468 $ 1,557 $ 91 Popular, Inc. For the quarter ended March 31, 2015 (Dollars in thousands) Loan count Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Increase (decrease) in the allowance for loan losses as a result of modification Commercial multi-family 2 $ 551 $ 551 $ 2 Commercial real estate non-owner occupied 3 18,000 17,998 2,986 Commercial real estate owner occupied 5 4,759 4,552 171 Commercial and industrial 10 5,534 5,889 224 Construction 1 268 259 (166) Mortgage 154 16,370 18,231 1,421 Leasing 13 323 325 73 Consumer: Credit cards 415 3,617 4,066 629 HELOCs 1 - 92 9 Personal 242 4,502 4,500 967 Auto 4 - 51 8 Other 11 29 29 5 Total 861 $ 53,953 $ 56,543 $ 6,329 The following tables present by class, TDRs that were subject to payment default and that had been modified as a TDR during the twelve months preceding the default date. Payment default is defined as a restruct ured loan becoming 90 days past due after being modified, foreclosed or charged-off, whichever occurs first. The recorded investment at March 31, 2016 is inclusive of all partial paydowns and charge-offs since the modification date. Loans modified as a TDR that were fully paid down, charged-off or foreclosed upon by period end are not reported. Puerto Rico Defaulted during the quarter ended March 31, 2016 (Dollars in thousands) Loan count Recorded investment as of first default date Commercial real estate non-owner occupied 2 $ 327 Commercial real estate owner occupied 6 2,456 Mortgage 27 3,235 Consumer: Credit cards 106 1,122 Personal 43 1,139 Auto 1 17 Other 1 4 Total [1] 186 $ 8,300 [1] Excludes loans for which the Corporation has entered into liquidation agreements with borrowers and guarantors and is accepting payments which differ from the contractual payment schedule. The Corporation considers these as defaulted loans and does not intent to return them to accrual status. During the quarter ended March 31, 2016 , there were no U.S. mainland TDRs that were subject to payment default and that had been modified as a TDR during the twelve months preceding the default date. Popular, Inc. Defaulted during the quarter ended March 31, 2016 (Dollars In thousands) Loan count Recorded investment as of first default date Commercial real estate non-owner occupied 2 $ 327 Commercial real estate owner occupied 6 2,456 Mortgage 27 3,235 Consumer: Credit cards 106 1,122 Personal 43 1,139 Auto 1 17 Other 1 4 Total 186 $ 8,300 Puerto Rico Defaulted during the quarter ended March 31, 2015 (Dollars In thousands) Loan count Recorded investment as of first default date Commercial real estate owner occupied 1 $ 291 Commercial and industrial 1 90 Construction 2 1,192 Mortgage 22 1,695 Consumer: Credit cards 153 1,792 Personal 22 178 Auto 5 96 Other 2 2 Total [1] 208 $ 5,336 [1] Exclude loans for which the Corporation has entered into liquidation agreements with borrowers and guarantors and is accepting payments which differ from the contractual payment schedule. The Corporation considers these as defaulted loans and does not intent to return them to accrual status. During the quarter ended March 31, 2015 , there were no U.S. mainland TDRs that were subject to payment default and that had been modified as a TDR during the twelve months preceding the default date. Popular, Inc. Defaulted during the quarter ended March 31, 2015 (Dollars In thousands) Loan count Recorded investment as of first default date Commercial real estate owner occupied 1 $ 291 Commercial and industrial 1 90 Construction 2 1,192 Mortgage 22 1,695 Consumer: Credit cards 153 1,792 Personal 22 178 Auto 5 96 Other 2 2 Total 208 $ 5,336 Commercial, consumer and mortgage loans modified in a TDR are closely monitored for delinquency as an early indicator of possible future default. If loans modified in a TDR subsequently default, the Corporation evaluates the loan for possible further impairment. The allowance for loan losses may be increased or partial charge-offs may be taken to further write-down the carrying value of the loan . Credit Quality The following table presents the outstanding balance, net of unearned income, of non-covere d loans held-in-portfolio based on the Corporation’s assignment of obligor risk ratings as defined at March 31, 2016 and December 31, 2015 . March 31, 2016 Special Pass/ (In thousands) Watch Mention Substandard Doubtful Loss Sub-total Unrated Total Puerto Rico [1] Commercial multi-family $ 2,899 $ 1,021 $ 6,917 $ - $ - $ 10,837 $ 163,814 $ 174,651 Commercial real estate non-owner occupied 320,015 417,911 389,243 - - 1,127,169 1,532,284 2,659,453 Commercial real estate owner occupied 355,306 145,492 431,370 2,056 - 934,224 933,565 1,867,789 Commercial and industrial 174,205 135,002 247,095 635 45 556,982 2,109,416 2,666,398 Total Commercial 852,425 699,426 1,074,625 2,691 45 2,629,212 4,739,079 7,368,291 Construction 4,015 6,028 18,165 - - 28,208 76,936 105,144 Mortgage 4,566 3,337 218,542 - - 226,445 5,873,314 6,099,759 Leasing - - 3,399 - 20 3,419 639,723 643,142 Consumer: Credit cards - - 18,864 - - 18,864 1,079,919 1,098,783 HELOCs - - 280 - - 280 9,349 9,629 Personal 1,668 1,066 21,013 - - 23,747 1,167,643 1,191,390 Auto - - 10,811 - 33 10,844 815,461 826,305 Other - - 18,727 - 440 19,167 163,817 182,984 Total Consumer 1,668 1,066 69,695 - 473 72,902 3,236,189 3,309,091 Total Puerto Rico $ 862,674 $ 709,857 $ 1,384,426 $ 2,691 $ 538 $ 2,960,186 $ 14,565,241 $ 17,525,427 U.S. mainland Commercial multi-family $ 12,264 $ 7,147 $ 985 $ - $ - $ 20,396 $ 742,158 $ 762,554 Commercial real estate non-owner occupied 38,732 4,054 25,414 - - 68,200 922,448 990,648 Commercial real estate owner occupied 7,386 204 3,882 - - 11,472 212,329 223,801 Commercial and industrial 9,671 3,759 131,844 - - 145,274 737,821 883,095 Total Commercial 68,053 15,164 162,125 - - 245,342 2,614,756 2,860,098 Construction - 32,041 22,456 - - 54,497 575,217 629,714 Mortgage - - 12,068 - - 12,068 867,374 879,442 Legacy 1,678 1,186 6,200 - - 9,064 51,980 61,044 Consumer: Credit cards - - 382 - - 382 12,636 13,018 HELOCs - - 2,013 - 2,296 4,309 289,951 294,260 Personal - - 689 - 740 1,429 242,985 244,414 Auto - - 6 - - 6 18 24 Other - - - - 10 10 286 296 Total Consumer - - 3,090 - 3,046 6,136 545,876 552,012 Total U.S. mainland $ 69,731 $ 48,391 $ 205,939 $ - $ 3,046 $ 327,107 $ 4,655,203 $ 4,982,310 Popular, Inc. Commercial multi-family $ 15,163 $ 8,168 $ 7,902 $ - $ - $ 31,233 $ 905,972 $ 937,205 Commercial real estate non-owner occupied 358,747 421,965 414,657 - - 1,195,369 2,454,732 3,650,101 Commercial real estate owner occupied 362,692 145,696 435,252 2,056 - 945,696 1,145,894 2,091,590 Commercial and industrial 183,876 138,761 378,939 635 45 702,256 2,847,237 3,549,493 Total Commercial 920,478 714,590 1,236,750 2,691 45 2,874,554 7,353,835 10,228,389 Construction 4,015 38,069 40,621 - - 82,705 652,153 734,858 Mortgage 4,566 3,337 230,610 - - 238,5 |
FDIC loss share asset and true
FDIC loss share asset and true up payment obligation | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure Text Block | |
FDIC loss share asset and true-up payment obligation | Note 11 – FDIC l oss-share asset and true-up payment obligation In connection with the Westernbank FDIC-assisted transaction, BPPR entered into loss-share arrangements with the FDIC with respect to the covered loans and other real estate owned. Pursuant to the terms of the loss-share arrangements, the FDIC’s obligation to reimburse BPPR for losses with respect to covered assets begins with the first dollar of loss incur red. The FDIC reimburses BPPR for 80% of losses with respect to covered assets, and BPPR reimburses the FDIC for 80% of recoveries with respect to losses for which the FDIC paid 80% reimbursement under loss-share arrangements. The loss-share agreement appl icable to single-family residential mortgage loans provides for FDIC loss and recoveries sharing for ten years expiring at the end of the quarter ending June 30, 2020. The loss-share arrangements applicable to commercial (including construction) and consum er loans expired during the quarter ended June 30, 2015 and provide for reimbursement to the FDIC through the quarter ending June 30, 2018. The following table sets forth the activity in the FDIC loss-share asset for the periods presented. Quarters ended March 31, (In thousands) 2016 2015 Balance at beginning of period $ 310,221 $ 542,454 Amortization of loss share indemnification asset (4,042) (27,316) Credit impairment losses (reversal) to be covered under loss-sharing agreements (2,093) 8,246 Reimbursable expenses 3,950 21,545 Net payments from FDIC under loss-sharing agreements (88,588) (132,265) Other adjustments attributable to FDIC loss-sharing agreements - (2,820) Balance at end of period $ 219,448 $ 409,844 As a result of the expiration of the shared-loss arrangement under the commercial loss-share agreement on June 30, 2015, loans with a carrying amount at June 30, 2015 of approximately $ 248.7 million , which were reclassified to “non-covered” in the accompanying statement of financial condition, are subject to the resolution of several arbitration proceedings currently ongoing with the FDIC related primarily to ( i ) the FDIC’s denial of reimbursements for certain charge-offs claimed by BPPR with respect to certain loans and the treatment of those loans as “shared-loss assets” under the commercial loss-share agreement; and (ii) the denial by the FDIC of portfolio sale proposals submitted by BPPR pursuant to the applicable commercial shared-loss agreement provision governing portfolio sales. Until the disputes described above are finally resolved, the terms of the commercial loss-share agreement will remain in effect with respect to any such items under disp ute. As of March 31, 2016 , losses amounting to $ 149 million related to these assets are reflected in the FDIC indemnification asset as a receivable from the FDIC. Refer to additional information of these disputes on Note 23, Commitments and Contingencies. The weighted ave rage life of the single family loan portfolio accounted for under ASC 310-30 subject to the FDIC loss - sharing agreement at March 31, 2016 i s 7. 92 years. As part of the loss-share agreements, BPPR has agreed to make a true-up payment to the FDIC on the date that is 45 days following the last day (such day, the “ true-up measurement date ”) of the final shared-loss month, or upon the final disposition of all covered assets under the loss-share agreements , in the event losses on the loss-share agreements fail to reach expected levels. The estimated fair value of such true-up payment obligatio n is recorded as contingent consideration, which is included in the caption of other liabilities in the consolidated statements of financial condition. Under the loss sharing agreements, BPPR will pay to the FDIC 50 % of the excess, if any, of: ( i ) 20 % of the intrinsic loss estimate of $ 4.6 billion (or $ 925 million ) (as determined by the FDIC) less (ii) the sum of: (A) 25 % of the asset discount (per bid) (or ( $ 1.1 billion )); plus (B) 25 % of the cumulative shared-loss payments (defined as the aggregate of all of the payments made or payable to BPPR minus the aggregate of all of the payments made or payable to the FDIC); plus (C) the sum of the period servicing amounts for every conse cutive twelve-month period prior to and ending on the true-up measurement date in respect of each of the loss - sharing agreements during which the loss - sharing provisions of the applicable loss - sharing agreement is in effect (defined as the product of the s imple average of the principal amount of shared - loss loans and shared - loss assets at the beginning and end of such period times 1 % ). Of the four components used to estimate the true-up payment obligation (intrinsic loss estimate, asset discount, cumulative shared-loss payments, and period servicing amounts) only the cumulative shared-loss payments and the period servicing amounts will change on a quarterly basis. These two variables are the main drivers of changes in the undiscounted tru e-up payment obligation. In order to estimate the true-up obligation, actual and expected portfolio performance for loans under both the commercial and residential loss sharing agreement are contemplated. The cumulative shared loss payments and cumulative servicing amounts are derived from our quarterly loss reassessment process for covered loans accounted for under ASC 310-30. Once the undiscounted true-up payment obligation is determined, the fair value is estimated based on the contractual remaining te rm to settle the obligation and a discount rate that is composed of the sum of the interpolated U. S. Treasury Note (“T Note”), defined by the remaining term of the true-up payment obligation, and a risk premium determined by the spread of the Corporation’s o utstanding senior unsecured debt over the equivalent T Note. The following table provides the fair value and the undiscounted amount of the true-up payment obligation at March 31, 2016 and December 31, 2015 . (In thousands) March 31, 2016 December 31, 2015 Carrying amount (fair value) $ 120,188 $ 119,745 Undiscounted amount $ 168,525 $ 168,692 The increase in the fair value of the true - up payment obligation was principally driven by the regular accretion of the instrument, which was partially offset by an increase in the discount rate from 7.64 % in 2015 to 7.98 % in 2016 . An enhancement in the methodology used to calculate the discount rate, incorporating a volume weighted adjusted price, was the driver of the increase in the discount rate. The loss-sha re agreements contain specific terms and conditions regarding the management of the covered assets that BPPR must follow in order to receive reimbursement on losses from the FDIC. Under the loss-sha re agreements, BPPR must: manage and administer the covered assets and collect and effect charge-offs and recoveries with respect to such cove red assets in a manner consistent with its usual and prudent business and banking practices and, with respect to single family shared-loss loans, the procedures (including collection procedures) customarily employed by BPPR in servicing and administering m ortgage loans for its own account and the servicing procedures established by FNMA or the Federal Home Loan Mortgage Corporation (“ FHLMC ”) , as in effect from time to time, and in accordance with accepted mortgage servicing practices of prudent lending inst itutions; exercise its best judgment in managing, administering and collecting amounts on covered assets and effecting charge-offs with respect to the covered assets; use commercially reasonable efforts to maximize recoveries with respect to losses on sing le family shared-loss assets and best efforts to maximize collections with respect to commercial shared-loss assets; retain sufficient staff to perform the duties under the loss-sha re agreements; adopt and implement accounting, reporting, record-keeping an d similar systems with respect to the commercial shared-loss assets; comply with the terms of the modification guidelines approved by the FDIC or another federal agency for any single-family shared - loss loan; provide notice with respect to proposed transa ctions pursuant to which a third party or affiliate will manage, administer or collect any co mmercial shared-loss assets; file monthly and quarterly certificates with the FDIC specifying the amount of los ses, charge-offs and recoveries; and maintain books and records sufficient to ensure and document compliance with the terms of the loss-sha re agreements . Refer to Note 23, Commitment and Contingencies, for additional information on the settlement of the arbitration proceedings with the FDIC regarding the commercial loss-share agreement. |
Mortgage banking activities
Mortgage banking activities | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure Text Block | |
Mortgage Banking Activities | Note 12 – Mortgage banking activities Income from mortgage banking activities includes mortgage servicing fees earned in connection with administering residential mortgage loans and valuation adjustments on mortgage servicing rights. It also includes gain on sales and securitizations of residential mortgage loans and trading gains and losses on derivative contracts used to hedge the Corporation’s securitization activities. In addition, lower-of-cost-or-market valuation adjustments to residential mortga ge loans held for sale, if any, are recorded as part of the mortgage banking activities. The following table presents the components of mortgage banking activities: Quarters ended March 31, (In thousands) 2016 2015 Mortgage servicing fees, net of fair value adjustments: Mortgage servicing fees $ 14,802 $ 12,248 Mortgage servicing rights fair value adjustments (8,477) (4,929) Total mortgage servicing fees, net of fair value adjustments 6,325 7,319 Net gain on sale of loans, including valuation on loans 7,110 7,280 Trading account (loss): Unrealized (losses) gains on outstanding derivative positions (80) 17 Realized losses on closed derivative positions (2,804) (1,764) Total trading account loss (2,884) (1,747) Total mortgage banking activities $ 10,551 $ 12,852 |
Transfers of financial assets a
Transfers of financial assets and mortgage servicing assets | 3 Months Ended |
Mar. 31, 2016 | |
Transfers and Servicing of Financial Assets | |
Transfers Of Financial Assets And Mortgage Servicing Assets | Note 13 – Transfers of financ ial assets and mortgage servicing assets The Corporation typically transfers conforming residential mortgage lo ans in conjunction with GNMA and FNMA securitization transactions whereby the loans are exchanged for cash or securities and servicing rights. The securities issued through these transactions are guaranteed by the corresponding agency and, as such, under seller/service agreements the Corporation is required to service the loans in accordance with the agencies’ servicing guidelin es and standards. Substantially all mortgage loans se curitized by the Corporation in GNMA and FNMA securities have fixed rates and represent conforming loans. As seller, the Corporation has made certain representations and warranties with respect to the originally transferred loans and, in some instan ces, has sold loans with credit recourse to a government-sponsored entity, namely FNMA. Refer to Note 22 to the consolidated financial statements for a description of such arrangements. No liabilities were incurred as a result of the se securitizations during the quarters ended March 31, 2016 and 2015 because they did not contain any credit recourse arrangements. During the quarter ended March 31, 2016 the Corporation recorded a net gain of $ 6.4 million ( March 31, 2015 - $ 6.4 mill ion) related to the residential mortgage loans securitized. The following tables present the initial fair value of the assets obtained as proceeds from residential mortgage loans securitized during the quarters ended March 31, 2016 and 2015 . Proceeds Obtained During the Quarter Ended March 31, 2016 (In thousands) Level 1 Level 2 Level 3 Initial Fair Value Assets Trading account securities: Mortgage-backed securities - GNMA $ - $ 134,012 $ - $ 134,012 Mortgage-backed securities - FNMA - 36,236 - 36,236 Total trading account securities $ - $ 170,248 $ - $ 170,248 Mortgage servicing rights $ - $ - $ 1,870 $ 1,870 Total $ - $ 170,248 $ 1,870 $ 172,118 Proceeds Obtained During the Quarter Ended March 31, 2015 (In thousands) Level 1 Level 2 Level 3 Initial Fair Value Assets Trading account securities: Mortgage-backed securities - GNMA $ - $ 156,456 $ - $ 156,456 Mortgage-backed securities - FNMA - 46,958 - 46,958 Total trading account securities $ - $ 203,414 $ - $ 203,414 Mortgage servicing rights $ - $ - $ 2,562 $ 2,562 Total $ - $ 203,414 $ 2,562 $ 205,976 During the quarter ended March 31, 2016 , the Corporation retained servicing rights on whole loan sales involving approximately $ 18.5 million in principal balance outstanding ( March 31, 2015 - $ 22 million), with realized gains of approximately $ 0.7 million ( March 31, 2015 - gains of $ 1.0 million). All loan sales performed during the quarters ended March 31, 2016 and 2015 were without credit recourse agreements. The Corporation recognizes as assets the rights to service loans for others, whether these rights are purchased or result from asset transfers such as sales and securitizations. The Corporation uses a discounted cash flow model to estimate the fair value of MSRs. The discounted cash flow model incorporates assumptions that market participants would use in estimating future net servicing income, including estimates of prepayment speeds, discount rate, cost to service, escrow account earnings, contractual servicing fee income, prepayment and late fees, among other considerations. Prepayment speeds are adjusted for the Corporation’s loan characteristics and portfolio behavior. The following table presents the changes in MSRs measu red using the fair value method for the quarter s ended March 31, 2016 and 2015 . Residential MSRs (In thousands) March 31, 2016 March 31, 2015 Fair value at beginning of period $ 211,405 $ 148,694 Additions 2,123 5,259 Changes due to payments on loans [1] (4,254) (3,789) Reduction due to loan repurchases (357) (456) Changes in fair value due to changes in valuation model inputs or assumptions (3,866) (684) Fair value at end of period $ 205,051 $ 149,024 [1] Represents changes due to collection / realization of expected cash flows over time. Mortgage servicing rights as of March 31, 2016 include those acquired as part of the Doral Bank Transaction. Residential mortgage loans serviced for others were $ 20.3 billion at March 31, 2016 (December 31 , 2015 - $ 20.6 billion). Net mortgage servicing fees, a component of mortgage banking activities in the consolidated statements of operations, include the chan ges from period to period in the fair value of the MSRs, including changes due to collection / realization of expected cash flows. Mortgage servicing fees, excluding fair value adjustments, for the quarter ended March 31, 2016 amounted to $ 14.8 million ( March 31, 2015 - $ 12.2 million). The banking subsidiaries receive servicing fees based on a percentage of the outstanding loan balance. At March 31, 2016 , those weighted average mortgage servicing fees were 0.29 % ( March 31, 2015 – 0.26 %). Under these servicing agreements, the banking subsidiaries do not generally earn significant prepayment penalty fees on the underlying loans serviced. The section below includes information on assumptions used in the valuation mo del of the MSRs, originated and purchased. Key economic assumptions used in measuring the servicing rights derived from loans securitized or sold by the Corporation during the quarters ended March 31 , 2016 and 2015 were as follows: Quarters ended March 31, 2016 March 31, 2015 Prepayment speed 5.4 % 7.3 % Weighted average life 10.0 years 13.7 years Discount rate (annual rate) 11.1 % 10.9 % Key economic assumptions used to estimate the fair value of MSRs derived from sales and securitizations of mortgage loans performed by the banking subsidiaries and the sensitivity to immedia te changes in those assumptions were as follows as of the end of the periods reported : Originated MSRs (In thousands) March 31, 2016 December 31, 2015 Fair value of servicing rights $ 95,043 $ 98,648 Weighted average life 7.3 years 7.3 years Weighted average prepayment speed (annual rate) 6.0 % 6.0 % Impact on fair value of 10% adverse change $ (2,376) $ (2,488) Impact on fair value of 20% adverse change $ (4,982) $ (5,241) Weighted average discount rate (annual rate) 11.5 % 11.5 % Impact on fair value of 10% adverse change $ (3,853) $ (4,083) Impact on fair value of 20% adverse change $ (7,723) $ (8,206) The banking subsidiaries also own servicing rights purchased from other financial institutions. The fair value of purchased MSRs, their related valuation assumptions and the sensitivity to immediate changes in those assumptions were as follows as of the end of the periods reported : Purchased MSRs (In thousands) March 31, 2016 December 31, 2015 Fair value of servicing rights $ 110,008 $ 112,757 Weighted average life 6.2 years 6.2 years Weighted average prepayment speed (annual rate) 6.7 % 6.9 % Impact on fair value of 10% adverse change $ (2,795) $ (2,871) Impact on fair value of 20% adverse change $ (5,842) $ (6,034) Weighted average discount rate (annual rate) 11.0 % 11.0 % Impact on fair value of 10% adverse change $ (4,077) $ (4,211) Impact on fair value of 20% adverse change $ (8,221) $ (8,525) The sensitivity analyses presented in the tables above for servicing rights are hypothetical and should be used with caution. As the figures indicate, changes in fair value based on a 10 and 20 percent variation in assumptions generally cannot be extrapolated because the relationship of the change in assumption to the change in fair value may not be linear. Also, in the sensitivity tables included herein, the effect of a variation in a particular assumption on the fair value of the retained interes t is calculated without changing any other assumption. In reality, changes in one factor may result in changes in another (for example, increases in market interest rates may result in lower prepayments and increased credit losses), which might magnify or counteract the sensitivities. At March 31, 2016 , the Corporation serviced $ 1.8 billion (December 31 , 2015 - $ 1.9 billion ) in residential mortgage loans with credit recourse to the Corporation. Under the GNMA securitizations, the Corpo ration, as servicer, has the right to repurchase (but not the obligation), at its option and without GNMA’s prior authorization, any loan that is collateral for a GNMA guaranteed mortgage-backed security when certain delinquency criteria are met. At the ti me that individual loans meet GNMA’s specified delinquency criteria and are eligible for repurchase, the Corporation is deemed to have regained effective control over these loans if the Corporation was the pool issuer. At March 31, 2016 , t he Corporation had recorded $ 146 million in mortgage loans on its consolidated statements of financial condition related to this buy-back option program (December 31 , 2015 - $ 140 million ). As long as the Corporation continues to service the loans that continue to be collateral in a GNMA guaranteed mortgage-backed security, the MSR is recognized by the Corporation . During the quarter ended March 31, 2016 , the Corporation repurchased approximately $ 17 million ( March 31, 2015 - $ 24 million) of mortgage loans under the GNMA buy-back option program. The determination to repurchase these loans was based on the economic benefits of the transaction, which results in a reduction of the servicing costs for these sev erely delinquent loans, mostly related to principal and interest advances. Furthermore, due to their guaranteed nature, the risk associated with the loans is minimal. The Corporation places these loans under its loss mitigation programs and once brought ba ck to current status, these may be either retained in portfolio or re-sold in the secondary market. |
Other Real Estate Owned
Other Real Estate Owned | 3 Months Ended |
Mar. 31, 2016 | |
Other Real Estate | |
Other Real Estate Owned | Note 14 – Other real estate owned The following table s present the activity related to Other Real Estate Owned (“OREO”) , for the quarter s ended March 31, 2016 and 2015 . For the quarter ended March 31, 2016 Non-covered Non-covered Covered OREO OREO OREO (In thousands) Commercial/ Construction Mortgage Mortgage Total Balance at beginning of period $ 32,471 $ 122,760 $ 36,685 $ 191,916 Write-downs in value (1,717) (2,016) (500) (4,233) Additions 1,810 24,276 4,483 30,569 Sales (1,595) (8,500) (3,649) (13,744) Other adjustments (615) (914) (622) (2,151) Ending balance $ 30,354 $ 135,606 $ 36,397 $ 202,357 For the quarter ended March 31, 2015 Non-covered Non-covered Covered Covered OREO OREO OREO OREO (In thousands) Commercial/ Construction Mortgage Commercial/ Construction Mortgage Total Balance at beginning of period $ 38,983 $ 96,517 $ 85,394 $ 44,872 $ 265,766 Write-downs in value (5,887) (1,372) (9,395) (1,282) (17,936) Additions 2,035 21,075 4,038 5,381 32,529 Sales (9,427) (13,086) (9,464) (5,822) (37,799) Other adjustments (96) (572) - (165) (833) Ending balance $ 25,608 $ 102,562 $ 70,573 $ 42,984 $ 241,727 |
Other assets
Other assets | 3 Months Ended |
Mar. 31, 2016 | |
Other Assets Abstract | |
Other assets | Note 15 − Other assets The caption of other assets in the consolidated statements of financial condition consists of the following major categories: (In thousands) March 31, 2016 December 31, 2015 Net deferred tax assets (net of valuation allowance) $ 1,275,017 $ 1,302,452 Investments under the equity method 216,076 212,838 Prepaid taxes 174,558 180,969 Other prepaid expenses 81,300 79,215 Derivative assets 15,012 16,959 Trades receivable from brokers and counterparties 87,590 78,759 Others 306,477 321,970 Total other assets $ 2,156,030 $ 2,193,162 |
Goodwill and other intangible a
Goodwill and other intangible assets | 3 Months Ended |
Mar. 31, 2016 | |
Goodwill and Intangible Assets Disclosure | |
Goodwill And Other Intangible Assets | Note 16 – Goodwill and other intangible assets Goodwill The changes in the carrying amount of goodwill for the quarters ended March 31, 2016 and 2015 , allocated by reportable segments, were as follows (refer to Note 35 for the definition of the Corporation’s reportable segments): 2016 Purchase Balance at Goodwill on accounting Balance at (In thousands) January 1, 2016 acquisition adjustments March 31,2016 Banco Popular de Puerto Rico $ 280,221 $ - $ - $ 280,221 Banco Popular North America 346,167 - 4,707 350,874 Total Popular, Inc. $ 626,388 $ - $ 4,707 $ 631,095 2015 Purchase Balance at Goodwill on accounting Balance at (In thousands) January 1, 2015 acquisition adjustments March 31, 2015 Banco Popular de Puerto Rico $ 250,109 $ 3,899 $ - $ 254,008 Banco Popular North America 215,567 38,735 - 254,302 Total Popular, Inc. $ 465,676 $ 42,634 $ - $ 508,310 During the quarter ended March 31, 2016, the Corporation recorded adjustments to its initial fair value estimates in connection with the Doral Bank Transaction. As a result, the discount on the loans increased by $4.7 million with a corresponding increase to goodwill. The goodwill recorded during the first quarter of 2015 was related to the Doral Bank Transaction. Refer to Note 5, Business Combination, for additional information. The following tables present the gross amount of goodwill and accumulated impairment losses by reportable segments. March 31, 2016 Balance at Balance at Balance at Balance at January 1, Accumulated January 1, March 31, Accumulated March 31, 2016 impairment 2016 2016 impairment 2016 (In thousands) (gross amounts) losses (net amounts) (gross amounts) losses (net amounts) Banco Popular de Puerto Rico $ 280,221 $ - $ 280,221 $ 280,221 $ - $ 280,221 Banco Popular North America 510,578 164,411 346,167 515,285 164,411 350,874 Total Popular, Inc. $ 790,799 $ 164,411 $ 626,388 $ 795,506 $ 164,411 $ 631,095 December 31, 2015 Balance at Balance at Balance at Balance at January 1, Accumulated January 1, December 31, Accumulated December 31, 2015 impairment 2015 2015 impairment 2015 (In thousands) (gross amounts) losses (net amounts) (gross amounts) losses (net amounts) Banco Popular de Puerto Rico $ 250,109 $ - $ 250,109 $ 280,221 $ - $ 280,221 Banco Popular North America 379,978 164,411 215,567 510,578 164,411 346,167 Total Popular, Inc. $ 630,087 $ 164,411 $ 465,676 $ 790,799 $ 164,411 $ 626,388 Other Intangible Assets At March 31, 2016 and December 31, 2015 , the Corporation had $ 6.1 million of identifiable intangible assets, with indefinite useful lives, mostly associated with E-LOAN’s trademark. The following table reflects the components of other intangible assets subject to amortization: Gross Net Carrying Accumulated Carrying (In thousands) Amount Amortization Value March 31, 2016 Core deposits $ 63,539 $ 40,132 $ 23,407 Other customer relationships 36,786 12,227 24,559 Total other intangible assets $ 100,325 $ 52,359 $ 47,966 December 31, 2015 Core deposits $ 63,539 $ 38,464 $ 25,075 Other customer relationships 37,665 10,745 26,920 Total other intangible assets $ 101,204 $ 49,209 $ 51,995 During the quarter ended March 31, 2016 , the Corporation recognized $ 3.1 million in amortization e xpense related to other intangible assets with definite useful lives ( March 31, 2015 - $ 2.1 million ). The following table presents the estimated amortization of the intangible assets with definite useful lives for each of the following periods: (In thousands) Remaining 2016 $ 9,030 Year 2017 9,378 Year 2018 9,286 Year 2019 9,042 Year 2020 4,967 Year 2021 2,157 |
Deposits
Deposits | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure Text Block | |
Deposits | Note 17 – Deposits Total interest bearing deposits as of the end of the periods presented consisted of: (In thousands) March 31, 2016 December 31, 2015 Savings accounts $ 7,307,272 $ 7,010,391 NOW, money market and other interest bearing demand deposits 5,957,465 5,632,449 Total savings, NOW, money market and other interest bearing demand deposits 13,264,737 12,642,840 Certificates of deposit: Under $100,000 3,798,028 4,014,359 $100,000 and over 4,079,735 4,151,009 Total certificates of deposit 7,877,763 8,165,368 Total interest bearing deposits $ 21,142,500 $ 20,808,208 A summary of certificates of deposit by maturity at March 31, 2016 follows: (In thousands) 2016 $ 3,780,813 2017 1,452,245 2018 800,872 2019 517,844 2020 974,612 2021 and thereafter 351,377 Total certificates of deposit $ 7,877,763 At March 31, 2016 , the Corporation had brokered deposits amounting to $ 0.9 billion (December 31, 2015 - $ 1.3 billion ). The aggregate amount of overdrafts in demand deposit accounts that were reclassified to loans was $ 9 million at March 31, 2016 (December 31, 2015 - $ 11 million ) . |
Borrowings
Borrowings | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure Text Block | |
Borrowings | Note 18 – Borrowings The following table presents the composition of fed funds purchased and a ssets sold under agreements to repurchase at March 31, 2016 and December 31, 2015 . (In thousands) March 31, 2016 December 31, 2015 Federal funds purchased $ 50,000 $ 50,000 Assets sold under agreements to repurchase 710,154 712,145 Total federal funds purchased and assets sold under agreements to repurchase $ 760,154 $ 762,145 The following table presents information related to the Corporation’s repurchase transactions accounted for as secured borrowings that are collateralized with investment securities available-for-sale, other assets held-for-trading purposes or which have been obtained under agreements to resell . It is the Corporation’s policy to maintain effective control over assets sold under agreements to repurchase; accordingly, such securities continue to be carried on the consolidated statements of financial conditi on. Repurchase agreements accounted for as secured borrowings March 31, 2016 December 31, 2015 Repurchase Repurchase (In thousands) liability liability Obligations of U.S. government sponsored entities Within 30 days $ 87,809 $ 243,708 After 30 to 90 days 54,361 - After 90 days 192,238 23,366 Total obligations of U.S. government sponsored entities 334,408 267,074 Mortgage-backed securities Within 30 days 28,340 124,878 After 30 to 90 days 57,224 154,582 After 90 days 264,321 142,441 Total mortgage-backed securities 349,885 421,901 Collateralized mortgage obligations Within 30 days 10,458 10,298 After 30 to 90 days - 12,872 After 90 days 15,403 - Total collateralized mortgage obligations 25,861 23,170 Total $ 710,154 $ 712,145 R epurchase agreements in portfolio are generally short-term, often overnight and Popular acts as borrow ers transferring assets to the c ounterparty. As such our risk is very limited. We manage the liquidity risks arising from secured funding by sourcing funding globally from a diverse group of counterparties, providing a range of securities collateral and pursuing longer durations, when appropriate. The following table presents the composition of other short-term borrowings at March 31, 2016 and December 31, 2015 . (In thousands) March 31, 2016 December 31, 2015 Securities sold not yet purchased $ 5,170 $ - Others 1,200 1,200 Total other short-term borrowings $ 6,370 $ 1,200 Note: Refer to the Corporation's 2015 Form 10-K for rates information at December 31, 2015. The following table presents the composition of notes payable at March 31, 2016 and December 31, 2015 . (In thousands) March 31, 2016 December 31, 2015 Advances with the FHLB with maturities ranging from 2016 through 2029 paying interest at monthly fixed rates ranging from 0.71% to 4.19 % (2015 - 0.45% to 4.19%) $ 638,848 $ 747,072 Advances with the FHLB maturing on 2019 paying interest monthly at a floating rate of 0.34% over the 1 month LIBOR 13,000 - Advances with the FHLB with maturities ranging from 2017 through 2019 paying interest quarterly at a floating rate from 0.01% to 0.24% over the 3 month LIBOR 30,313 14,429 Unsecured senior debt securities maturing on 2019 paying interest semiannually at a fixed rate of 7.00%, net of debt issuance costs of $6,775 (2015 - $7,296) 443,225 442,704 Junior subordinated deferrable interest debentures (related to trust preferred securities) with maturities ranging from 2027 to 2034 with fixed interest rates ranging from 6.125% to 8.327%, net of debt issuance costs of $497 (2015 - $505) 439,303 439,295 Others 18,779 19,008 Total notes payable $ 1,583,468 $ 1,662,508 Note: Refer to the Corporation’s 2015 Form 10-K for rates information at December 31, 2015 . At March 31, 2016 , the Corporation’s banking subsidiaries had credit facilities authorized with the FHLB and the Federal Reserve discount window aggregating to $ 4.1 billion and $ 1.3 billion ( December 31, 2015 - $ 3.9 billion and $ 1.3 billion, respectively), which were collateralized by loans held-in-portfolio. At March 31, 2016 , the Corporation used $ 922 million of the available credit facility with the FHLB ( December 31, 2015 - $ 762 million), which includes $ 240 million used for a municipal letter of credit to secure deposits , while the borrowing capacity at the discount window remains unused. A breakdown of borrowings by contractual maturities at March 31, 2016 is included in the table below. Fed funds purchased and assets sold under Short-term (In thousands) agreements to repurchase borrowings Notes payable Total Year 2016 $ 760,154 $ 6,370 $ 145,402 $ 911,926 2017 - - 90,939 90,939 2018 - - 144,503 144,503 2019 - - 551,314 551,314 2020 - - 92,529 92,529 Later years - - 558,781 558,781 Total borrowings $ 760,154 $ 6,370 $ 1,583,468 $ 2,349,992 |
Offsetting of financial assets
Offsetting of financial assets and liabilities | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure Text Block | |
Offsetting Of Financial Assets And Liabilities | Note 19 – Offsetting of financial assets and l iabilities The following table s present the potential effect of rights of setoff associated with the Corporation’s recognized financial assets and liabilities a t March 31, 2016 and December 31, 2015 . As of March 31, 2016 Gross Amounts Not Offset in the Statement of Financial Position (In thousands) Gross Amount of Recognized Assets Gross Amounts Offset in the Statement of Financial Position Net Amounts of Assets Presented in the Statement of Financial Position Financial Instruments Securities Collateral Received Cash Collateral Received Net Amount Derivatives $ 15,012 $ - $ 15,012 $ 35 $ - $ - $ 14,977 Reverse repurchase agreements 97,830 - 97,830 - 97,830 - - Total $ 112,842 $ - $ 112,842 $ 35 $ 97,830 $ - $ 14,977 As of March 31, 2016 Gross Amounts Not Offset in the Statement of Financial Position (In thousands) Gross Amount of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Position Net Amounts of Liabilities Presented in the Statement of Financial Position Financial Instruments Securities Collateral Pledged Cash Collateral Pledged Net Amount Derivatives $ 12,068 $ - $ 12,068 $ 35 $ 3,153 $ - $ 8,880 Repurchase agreements 710,154 - 710,154 - 710,154 - - Total $ 722,222 $ - $ 722,222 $ 35 $ 713,307 $ - $ 8,880 As of December 31, 2015 Gross Amounts Not Offset in the Statement of Financial Position (In thousands) Gross Amount of Recognized Assets Gross Amounts Offset in the Statement of Financial Position Net Amounts of Assets Presented in the Statement of Financial Position Financial Instruments Securities Collateral Received Cash Collateral Received Net Amount Derivatives $ 16,959 $ - $ 16,959 $ 114 $ - $ - $ 16,845 Reverse repurchase agreements 96,338 - 96,338 - 96,338 - - Total $ 113,297 $ - $ 113,297 $ 114 $ 96,338 $ - $ 16,845 As of December 31, 2015 Gross Amounts Not Offset in the Statement of Financial Position (In thousands) Gross Amount of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Position Net Amounts of Liabilities Presented in the Statement of Financial Position Financial Instruments Securities Collateral Pledged Cash Collateral Received Net Amount Derivatives $ 14,343 $ - $ 14,343 $ 114 $ 4,050 $ - $ 10,179 Repurchase agreements 712,145 - 712,145 - 712,145 - - Total $ 726,488 $ - $ 726,488 $ 114 $ 716,195 $ - $ 10,179 T he Corporation’s derivatives are subject to a gr eement s which allow a right of s et - off with each respective counterpart y . In a ddition, the Corporation’s Repurchase Agreements and Reverse Repurchase Agreements have a right of s et -off with the respective counterparty under the supplemental terms of the Master Repurchase Agreement s . In an event of default e ach party has a right of set - off against the other party for amounts owed in the related agreement and any other amount or obligation owed in respect of any other agreement or transaction between them. |
Stockholders' equity
Stockholders' equity | 3 Months Ended |
Mar. 31, 2016 | |
Stockholders' Equity Note | |
Stockholders' Equity | Note 20 – Stockholders ’ equity During the quarter ended March 31, 2016 the Corporation declared a cash dividend of $0.15 per share on its outstanding common stock, which was paid on April 1 , 201 6 to shareholders of record at the close of business on March 11 , 201 6 . This represents a payout of approximately $15.5 million. BPPR statutory reserve The Banking Act of the Commonwealth of Puerto Rico requires that a minimum of 10% of BPPR’s net income for the year be transferred to a statutory reserve account until such statutory reserve equals the total of paid-in capital on common and preferred stock. Any losses incurred by a bank must first be charged to retained earnings and then to the reserve fund. A mounts credited to the reserve fund may not be used to pay dividends without the prior consent of the Puerto Rico Commissioner of Financial Institutions. The failure to maintain sufficient statutory reserves would preclude BPPR from paying dividends. BPPR’ s statutory reserve fund amounted to $ 495 million at March 31, 2016 (December 31, 2015 - $ 495 m illion). There were no transfers between the statutory reserve account and the retained earnings account during the quarters ended March 31, 2016 and March 31, 2015 . |
Other comprehensive income (los
Other comprehensive income (loss) | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure Text Block | |
Other Comprehensive Income (Loss) | Note 21 – Other comprehensive loss The following table presents changes in accumulated other comprehensive loss by component for the quarters ended March 31, 2016 and 2015 . Changes in Accumulated Other Comprehensive Loss by Component [1] Quarters ended March 31, (In thousands) 2016 2015 Foreign currency translation Beginning Balance $ (35,930) $ (32,832) Other comprehensive loss before reclassifications (705) (581) Amounts reclassified from accumulated other comprehensive loss - - Net change (705) (581) Ending balance $ (36,635) $ (33,413) Adjustment of pension and postretirement benefit plans Beginning Balance $ (211,276) $ (205,187) Amounts reclassified from accumulated other comprehensive loss for amortization of net losses 3,346 3,065 Amounts reclassified from accumulated other comprehensive loss for amortization of prior service cost (580) (579) Net change 2,766 2,486 Ending balance $ (208,510) $ (202,701) Unrealized net holding gains on investments Beginning Balance $ (9,560) $ 8,465 Other comprehensive income before reclassifications 73,351 34,285 Net change 73,351 34,285 Ending balance $ 63,791 $ 42,750 Unrealized net losses on cash flow hedges Beginning Balance $ (120) $ (318) Other comprehensive loss before reclassifications (1,219) (1,546) Amounts reclassified from other accumulated other comprehensive loss 943 828 Net change (276) (718) Ending balance $ (396) $ (1,036) Total $ (181,750) $ (194,400) [1] All amounts presented are net of tax. The following table presents the amounts reclassified out of each component of accumulated other comprehensive loss during the quarters ended March 31, 2016 and 2015 . Reclassifications Out of Accumulated Other Comprehensive Loss Affected Line Item in the Quarters ended March 31, (In thousands) Consolidated Statements of Operations 2016 2015 Adjustment of pension and postretirement benefit plans Amortization of net losses Personnel costs $ (5,486) $ (5,025) Amortization of prior service cost Personnel costs 950 950 Total before tax (4,536) (4,075) Income tax benefit 1,770 1,589 Total net of tax $ (2,766) $ (2,486) Unrealized net losses on cash flow hedges Forward contracts Mortgage banking activities $ (1,545) $ (1,358) Total before tax (1,545) (1,358) Income tax benefit 602 530 Total net of tax $ (943) $ (828) Total reclassification adjustments, net of tax $ (3,709) $ (3,314) |
Guarantees
Guarantees | 3 Months Ended |
Mar. 31, 2016 | |
Guarantees | |
Guarantees | Note 22 – Guarantees At March 31, 2016 the Corporation recorded a liability of $ 0.7 m illion (December 31, 2015 - $ 0.5 million), which represents the unamortized balance of the obligations undertaken in issuing the guarantees under the standby letters of credit. Management does not anticipate any material losses related to these instruments. From time to time, the Corpora tion securitized mortgage loans into guaranteed mortgage-backed securities subject to limited, and in certain instances, lifetime credit recourse on the loans that serve as collateral for the mortgage-backed securities. The Corporation has not sold any mor tgage loans subject to credit recourse since 2009. At March 31, 2016 the Corporation serviced $1.8 billion (December 31, 2015 - $1.9 billion ) in residential mortgage loans subject to credit recourse provisions, principally loans associated with FNMA a nd FHLMC residential mortgage loan securitization programs. In the event of any customer default, pursuant to the credit recourse provided, the Corporation is required to repurchase the loan or reimburse the third party investor for the incurred loss. The maximum potential amount of future payments that the Corporation would be required to make under the recourse arrangements in the event of nonperformance by the borrowers is equivalent to the total outstanding balance of the residential mortgage loans serv iced with recourse and interest, if applicable. During the quarter ended March 31, 2016 , the Corporation repurchased approximately $ 13 m illion of unpaid principal balance in mortgage loans subject to the credit recourse provisions ( March 31, 2015 - $ 16 million ). In the event of nonperformance by the borrower, the Corporation has rights to the underlying collateral securing the mortgage loan. The Corporation suffers ultimate losses on these loans when the proceeds from a foreclosure sal e of the property underlying a defaulted mortgage loan are less than the outstanding principal balance of the loan plus any uncollected interest advanced and the costs of holding and disposing the related property. At March 31, 2016 t he Corporation’s li ability established to cover the estimated credit loss exposure related to loans sold or serviced with credit recourse amounted to $ 58 million (December 31, 2015 - $ 59 million ). The following table shows the changes in the Corporation’ s liability of estimated losses related to loans serviced with credit recourse provisions during the quarters ended March 31, 2016 and 2015 . March 31, (In thousands) 2016 2015 Balance as of beginning of period $ 58,663 $ 59,438 Provision for recourse liability 3,920 6,500 Net charge-offs (4,589) (6,553) Balance as of end of period $ 57,994 $ 59,385 When the Corporation sells or securitizes mortgage loans, it generally makes customary representations and warranties regarding the characteristics of the loans sold. To the extent the loans do not meet specifie d characteristics, the Corporation may be required to repurchase such loans or indemnify for losses and bear any subsequent loss related to the loans. During the quarters ended March 31, 2016 a nd March 31, 2015, BPPR did not repurchase loans under repres entation and warranty arrangement s. A substantial amount of these loans reinstate to performing status or have mortgage insurance, and thus the ultimate losses on the loans are not deemed significant. From time to time, the Corporation sells loans and agrees to indemnify the purchaser for credit losses or any breach of certain representations and warranties made in connection with the sale. T he following table presents the changes in the Corporation’s liability for estimated losses associated with indemnifications and representations and warranties related to loans sold by BPPR for the quarters ended March 31, 2016 and 2015 . (In thousands) 2016 2015 Balance as of beginning of period $ 8,087 $ 15,959 Provision (reversal) for representation and warranties 106 (1,901) Net charge-offs (191) (14) Balance as of end of period $ 8,002 $ 14,044 In addition, a t March 31, 2016 , the Corporation has reserves for customary representation s and warranties related to loans sold by its U.S. su bsidiary E-LOAN prior to 2009. These l oans were sold to investors on a servicing released basis subject to certain representation and warranties. Although the risk of loss or default was generally assumed by the investors, the Corporation made certain representations relating to borr ower creditworthine ss, loan documentation and collateral, which if not correct , may result in requiring the Corporation to repurchase the loans or indemnify investors for any related losses associated with these loans. At March 31, 2016 , t he Corporation’s reserve for estim ated losses from such representation and warranty arrangements amounted to $ 4 million, which was included as part of other liabilities in the consolidated statement of financial condition (December 31 , 2015 - $ 4 m illion). E-LOAN is no longer originating and selling loans since the subsidiary ceased these activities in 2008 and most of the outstanding agreements with major counterparties were settled during 2010 and 2011 . Servicing agreements relating to the mortgage-backed secur ities programs of FNMA and GNMA, and to mortgage loans sold or serviced to certain other investors, including FHLMC, require the Corporation to advance funds to make scheduled payments of principal, interest, taxes and insurance, if such payments have not been received from the borrowers. At March 31, 2016 , t he Corporation serviced $20.3 billion in mortgage loans for third-parties , including the loans serviced with credit recourse (December 31 , 2015 - $20.6 billion ). The Corporation generally recovers funds advanced pursuan t to these arrangements from the mortgage owner, from liquidation proceeds when the mortgage loan is foreclosed or, in the case of FHA/VA loans, under the applicable FHA and VA insurance and guarantees programs. However, in the meantime, the Corporation mu st absorb the cost of the funds it advances during the time the advance is outstanding. The Corporation 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 mortgag e loan would be canceled as part of the foreclosure proceedings and the Corporation would not receive any future servicing incom e with respect to that loan. At March 31, 2016 , the outstanding balance of funds advanced by the Corporation under such mortga ge loan servicing agreements was approximately $ 76 million, including advances on the portfolio acquired from Doral Bank (March 31, 2015 - $ 31 m illion ). To the extent the mortgage loans underlying the Corporation’s servicing portfolio experience increased delinquencies, the Corporation would be required to dedicate additional cash resources to comply with its obligation to advance funds as well as incur addition al administrative costs related to increases in collection efforts. Popular, Inc. Holding Company (“PIHC”) fully and unconditionally guarantees certain borrowing obligations issued by certain of its wholly-owned consolidated subsidiaries amounting to $ 0.2 billion at March 31, 2016 (December 31, 2015 - $ 0.2 billion). In addition, at March 31, 2016 and December 31 , 2015 , PIHC fully and unconditionally guaranteed on a subordinated basis $ 0.4 billion and $ 0.4 billion, respectively, of capital securities (trust preferred securities) issued by wholly-owned issuing trust entities to the extent set forth in the applicable guarantee agreement. |
Commitments and contingencies
Commitments and contingencies | 3 Months Ended |
Mar. 31, 2016 | |
Commitments and Contingencies Disclosure | |
Commitments And Contingencies | Note 23 – Commitments and contingencies Off-balance sheet risk The Corporation is a party to financial instruments with off-balance sheet credit risk in the normal course of business to meet the financial needs of its customers. These financial instruments include loan commitments, letters of credit, and standby letters of credit. These instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the consolidated statements of financial condition. The Corporation’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit, standby letters of credit and financial guarantees written is represented by the contractua l notional amounts of those instruments. The Corporation uses the same credit policies in making these commitments and conditional obligations as it does for those reflected on the consolidated statements of financial condition. Financial instruments with off-balance sheet credit risk, whose contract amounts represent potential credit risk as of the end of the periods presented were as follows: (In thousands) March 31, 2016 December 31, 2015 Commitments to extend credit: Credit card lines $ 4,562,439 $ 4,552,331 Commercial and construction lines of credit 2,711,061 2,619,092 Other consumer unused credit commitments 259,134 262,685 Commercial letters of credit 1,560 2,040 Standby letters of credit 36,252 49,670 Commitments to originate or fund mortgage loans 25,079 21,311 At March 31, 2016 and December 31, 2015 , the Corporation maintained a reserve of approximately $ 10 million for potential losses associated with unfunded loan commitments related to commercia l and consumer lines of credit . Other commitments At March 31, 2016 and December 31, 2015 , the Corporation also maintained other non-credit commitments for approximately $ 9 million, primarily for the acquisition of other investments . Business concentration Since the Corporation’s business activities are currently concentrated primarily in Puerto Rico, its results of operations and financial condition are dependent upon the general trends of the Puerto Rico economy and, in particular, the residential and commercial real estate marke ts. The concentration of the Corporation’s operations in Puerto Rico exposes it to greater risk than other banking companies with a wider geographic base. Its asset and revenue composition by geographical area is presented in Note 35 to the consolidate d financial statements. Since February 2014, the three principal rating agencies (Moody’s, S&P and Fitch) have lowered their ratings on the General Obligation bonds of the Commonwealth and the bonds of several other Commonwealth instrumentalities to non-i nvestment grade ratings. In connection with their rating actions, the rating agencies noted various factors, including high levels of public debt, the lack of a clear economic growth catalyst, recurring fiscal budget deficits, the financial condition of th e public sector employee pension plans and, more recently, liquidity concerns regarding the Commonwealth and the GDB and their ability to access the capital markets. Currently, the Commonwealth’s general obligation ratings are as follows: S&P, ‘CC’, Moody’ s, ‘Caa3’, and Fitch, ‘CC’. At March 31, 2016 , the Corporation’s direct exposur e to the Puerto Rico government and its instrumentalities and municipalities amounted to $ 656 m illion, of which approximately $ 565 million is outstanding ($ 669 m illion and $ 578 million , respectively, at December 31, 2015 ). Of the amount outstanding, $ 490 million consists of loans and $ 75 million are securities ($ 502 million and $ 76 million at Decemb er 31, 2015 ). Also, of the amount outstanding , $ 61 million represents obligations from the Government of Puerto Rico and public corporations that have a specific source of income or revenues identified for their repayment ($ 76 m illion at December 31, 2015 ). Some of these obligations consist of senior and subordinated loans to public corporations that obtain revenues from rates charged for services or products, such as public utilities. Public corporations have varying degrees of independence from the central Government and many receive appropriations or other payments from it. The remaining $ 504 million outstanding represents obligations from various municipalities in Puerto Rico for which, in most cases, the good fait h, credit and unlimited taxing power of the applicable municipality has been pledged to their repayment ($ 502 million at December 31, 2015 ). These municipalities are required by law to levy special property taxes in such amounts as shall be r equired for the payment of all of its general obligation bonds and loans. These loans have seniority to the payment of operating cost and expenses of the municipality . Further deterioration of the fiscal crisis of the Government of Puerto Rico could further affect the value of these loans and securities, resulting in losses to us. At March 31, 2016, BPPR is a lend er in a syndicated credit facility to PREPA and its exposure was of $4 0.9 million. The facility is classified as held-for-sale as BPPR has the ability and intent to sell the loan. The following table details the loans and investments representing the Corpo ration’s direct exposure to the Puerto Rico government according to their maturities: (In thousands) Investment Portfolio Loans Total Outstanding Total Exposure Central Government Within 1 year $- $- $- $50,794 After 1 to 5 years 887 - 887 887 After 5 to 10 years 3,044 - 3,044 3,044 After 10 years 13,688 - 13,688 13,688 Total Central Government 17,619 - 17,619 68,413 Government Development Bank (GDB) Within 1 year 3 - 3 3 After 1 to 5 years 1,092 - 1,092 1,092 After 5 to 10 years 360 - 360 360 Total Government Development Bank (GDB) 1,455 - 1,455 1,455 Public Corporations: Puerto Rico Aqueduct and Sewer Authority Within 1 year - - - 27,186 After 10 years 464 - 464 464 Total Puerto Rico Aqueduct and Sewer Authority 464 - 464 27,650 Puerto Rico Electric Power Authority Within 1 year - 40,914 40,914 40,914 After 10 years 22 - 22 22 Total Puerto Rico Electric Power Authority 22 40,914 40,936 40,936 Puerto Rico Highways and Transportation Authority After 5 to 10 years 4 - 4 4 Total Puerto Rico Highways and Transportation Authority 4 - 4 4 Municipalities Within 1 year 3,050 56,956 60,006 73,324 After 1 to 5 years 14,270 130,935 145,205 145,205 After 5 to 10 years 18,930 138,187 157,117 157,117 After 10 years 18,690 123,371 142,061 142,061 Total Municipalities 54,940 449,449 504,389 517,707 Total Direct Government Exposure $74,504 $490,363 $564,867 $656,165 In addition, at March 31, 2016 , the Corporation had $ 417 million in indirect exposure to loans or securities that are payable by non-governmental entities, but which carry a government guarantee to cover any shortfall in collateral in the event of borrower default ($ 394 million at December 31, 2015 ). These included $ 339 millio n in residential mortgage loans that are guaranteed by the Puerto Rico Housing Finance Authority (December 31, 2015 - $ 316 million). These mortgage loans are secured by the underlying properties and the guarantees serve to cover shortfalls i n collateral in the event of a borrower default. Under recently enacted legislation, the Governor is authorized to impose a temporary moratorium on the financial obligations of Puerto Housing Finance Authority. Also, the Corporation had $ 51 million in Puerto Rico pass-through housing bonds backed by FNMA, GNMA or residential loans CMO’s, and $ 27 million of commercial real estate notes ($ 50 million and $ 28 million at December 31, 2015 , respectively ). Other contingencies As indicated in Note 11 to the consolidated financial statements, as part of the loss sharing agreements related to the Westernbank FDIC-assisted transaction, the Corporation agreed to make a true-up payment to the FDIC on the date that is 45 days following the last day of the final shared loss month, or upon the final disposition of all covered assets under the loss sharin g agreements in the event losses on the loss sharing agreements fail to reach expected levels. The fair value of the true-up payment obligation was estimated at $ 120 million at March 31, 2016 (December 31, 2015 - $ 120 million). For add itional information refer to Note 11 . Legal Proceedings The nature of Popular’s business ordinarily results in a certain number of claims, litigation, investigations, and legal and administrative cases and proceedings. When the Corporation determines that it has meritorious defenses to the claims asserted, it vigorously defends itself. The Corporation will consider the settlement of cases (including cases where it has meritorious defenses) when, in management’s judgment, it is in the best interest of b oth the Corporation and its shareholders to do so. On at least a quarterly basis, Popular assesses its liabilities and contingencies in connection with outstanding legal proceedings utilizing the latest information available. For matters where it is proba ble that the Corporation will incur a material loss and the amount can be reasonably estimated, the Corporation establishes an accrual for the loss. Once established, the accrual is adjusted on at least a quarterly basis as appropriate to reflect any relev ant developments. For matters where a material loss is not probable or the amount of the loss cannot be estimated, no accrual is established. In certain cases, exposure to loss exists in excess of the accrual to the extent such loss is reasonably possib le, but not probable. Management believes and estimates that the aggregate range of reasonably possible losses (with respect to those matters where such limits may be determined, in excess of amounts accrued), for current legal proceedings ranges from $0 to approximately $37.3 million as of March 31, 2016 . For certain other cases, management cannot reasonably estimate the possible loss at this time. Any estimate involves significant judgment, given the varying stages of the proceedings (including the fact that many of them are currently in preliminary stages), the existence of multiple defendants in several of the current proceedin gs whose share of liability has yet to be determined, the numerous unresolved issues in many of the proceedings, and the inherent uncertainty of the various potential outcomes of such proceedings. Accordingly, management’s estimate will change from time-to -time, and actual losses may be more or less than the current estimate. While the final outcome of legal proceedings is inherently uncertain, based on information currently available, advice of counsel, and available insurance coverage, management believe s that the amount it has already accrued is adequate and any incremental liability arising from the Corporation’s legal proceedings will not have a material adverse effect on the Corporation’s consolidated financial position as a whole. However, in the eve nt of unexpected future developments, it is possible that the ultimate resolution of these matters, if unfavorable, may be material to the Corporation’s consolidated financial position in a particular period. Set forth below are descriptions of the Corp oration’s material legal proceedings. PCB has been named a defendant in a putative class action complaint captioned Josefina Valle, et al. v. Popular Community Bank, filed in November 2012 in the New York State Supreme Court (New York County). Plaintiffs , PCB customers, allege among other things that PCB has engaged in unfair and deceptive acts and trade practices in connection with the assessment of overdraft fees and payment processing on consumer deposit accounts. The complaint further alleges that PC B improperly disclosed its consumer overdraft policies and, additionally, that the overdraft rates and fees assessed by PCB violate New York’s usury laws. The complaint seeks unspecified damages, including punitive damages, interest, disbursements, and att orneys’ fees and costs. PCB removed the case to federal court (SDNY) and plaintiffs subsequently filed a motion to remand the action to state court, which the Court granted on August 6, 2013. A motion to dismiss was filed on September 9, 2013. On Octob er 25, 2013, plaintiffs filed an amended complaint seeking to limit the putative class to New York account holders. A motion to dismiss the amended complaint was filed in February 2014. In August 2014, the Court entered an order granting in part PCB’s moti on to dismiss. The sole surviving claim relates to PCB’s item processing policy. On September 10, 2014, plaintiffs filed a motion for leave to file a second amended complaint to correct certain deficiencies noted in the court’s decision and order. PCB sub sequently filed a motion in opposition to plaintiff's motion for leave to amend and further sought to compel arbitration. In June 2015, this matter was reassigned to a new judge and on July 22, 2015, such Court denied PCB’s motion to compel arbitration and granted plaintiffs’ motion for leave to amend the complaint to replead certain claims based on item processing reordering, misstatement of balance information and failure to notify customers in advance of potential overdrafts. The Court did not, however, allow plaintiffs to replead their claim for the alleged breach of the implied covenant of good faith and fair dealing. On August 12, 2015, the Plaintiffs filed a second amended complaint. On August 24, 2015, PCB filed a Notice of Appeal as to the order gr anting leave to file the second amended complaint and on September 17, 2015, it filed a motion to dismiss the second amended complaint. On February 18, 2016, the Court granted in part and denied in part PCB’s pending motion to dismiss. The Court dismissed plaintiffs’ unfair and deceptive acts and trade practices claim to the extent it sought to recover overdraft fees incurred prior to September 2011. On March 28, 2016, PCB filed an answer to second amended complaint and on April 7, 2016, it filed a notice o f appeal the partial denial of PCB’s motion to dismiss. Plaintiffs are to file a motion requesting class certification by August 19, 2016. Discovery is ongoing. BPPR has been named a defendant in a putative class action complaint captioned Neysha Quiles e t al. v. Banco Popular de Puerto Rico et al ., filed in December 2013 in the United States District Court for the District of Puerto Rico (USDC-PR). Plaintiffs essentially allege that they and others, who have been employed by the Defendants as “bank tellers” and other similarly titled positions, have been paid only for scheduled work time, rather than time actually worked. The complaint seeks to maintain a collective action under the Fair Labor Standards Act (“FLSA”) on behalf of all individuals forme rly or currently employed by BPPR in Puerto Rico and the Virgin Islands as hourly paid, non-exempt, bank tellers or other similarly titled positions at any time during the past three years. Specifically, the complaint alleges that BPPR violated FLSA by wil lfully failing to pay overtime premiums. Similar claims were brought under Puerto Rico law. On January 31, 2014, the Popular defendants filed an answer to the complaint. On January 9, 2015, plaintiffs submitted a motion for conditional class certification , which BPPR opposed. On February 18, 2015, the Court entered an order whereby it granted plaintiffs’ request for conditional certification of the FLSA action. Following the Court’s order, plaintiffs sent out notices to all purported class members with in structions for opting into the class. Approximately sixty potential class members opted into the class prior to the expiration of the opt-in period. On June 25, 2015, the Court denied with prejudice plaintiffs’ motion for class certification under Rule 23 of the Federal Rules of Civil Procedure. On October 20, 2015, the parties reached an agreement in principle to resolve the referenced action for an immaterial amount, subject to their reaching an agreement on the payment of reasonable attorneys’ fees. The parties submitted briefing to the Court on this issue and are currently awaiting the Court’s final determination. BPPR and Popular Securities have also been named defendants in a putative class action complaint captioned Nora Fernandez, et al. v. UBS, et al ., filed in the United States District Court for the Southern District of New York (SDNY) on May 5, 2014 on behalf of investors in 23 Puerto Rico closed-end investment companies. UBS Financial Services Incorporated of Puerto Rico, another named defendan t, is the sponsor and co-sponsor of all 23 funds, while BPPR was co-sponsor, together with UBS, of nine (9) of those funds. Plaintiffs allege breach of fiduciary duty and breach of contract against Popular Securities, aiding and abetting breach of fiducia ry duty against BPPR, and similar claims against the UBS entities. The complaint seeks unspecified damages, including disgorgement of fees and attorneys’ fees. On May 30, 2014, plaintiffs voluntarily dismissed their class action in the SDNY and on that sa me date, they filed a virtually identical complaint in the USDC-PR and requested that the case be consolidated with the matter of In re: UBS Financial Services Securities Litigation , a class action currently pending before the USDC-PR in which neither BPPR nor Popular Securities are parties. The UBS defendants filed an opposition to the consolidation request and moved to transfer the case back to the SDNY on the ground that the relevant agreements between the parties contain a choice of forum clause, with N ew York as the selected forum. The Popular defendants joined this opposition and motion. By order dated January 30, 2015, the court denied the plaintiffs’ motion to consolidate. By order dated March 30, 2015, the court granted defendants’ motion to transf er. On May 8, 2015, plaintiffs filed an amended complaint in the SDNY containing virtually identical allegations with respect to Popular Securities and BPPR. Defendants filed motions to dismiss the amended complaint on June 18, 2015. Those motions remai n pending to date. BPPR has been named a defendant in a putative class action complaint titled In re 2014 RadioShack ERISA Litigation , filed in U.S. District Court for the Northern District of Texas. The complaint alleges that certain employees of Radio Shack incurred losses in their 401(k) plans because various fiduciaries elected to retain RadioShack’s company stock in the portfolio of potential investment options. The complaint further asserts that once RadioShack’s financial situation began to deteri orate in 2011, the fiduciaries of the RadioShack 401(k) Plan and the RadioShack Puerto Rico 1165(e) Plan (collectively, “the Plans”) should have removed RadioShack company stock from the portfolio of potential investment options. Popular was a directed tr ustee, and therefore a fiduciary, of the RadioShack Puerto Rico 1165(e) Plan (“PR Plan”). Even though the PR Plan directed BPPR to retain RadioShack company stock within the portfolio of investment options, the complaint alleges that a trustee’s duty of p rudence requires it to disregard plan documents or directives that it knows or reasonably should know would lead to an imprudent result or would otherwise harm plan participants or beneficiaries. It further alleges that BPPR breached its fiduciary duties by ( i ) failing to take any meaningful steps to protect plan participants from losses that it knew would occur; (ii) failing to divest the PR Plan of company stock; and (iii) participating in the decisions of another trustee (Wells Fargo) to protect the Pla ns from inevitable losses. On November 23, 2015, the parties attended a mediation session, as a result of which the parties agreed to settle this matter for an immaterial amount, with BPPR contributing approximately $45,000. On February 22, 2016, the RadioShack defendants submitted an opposition to the bar provisions of BPPR’s proposed settlement whereby they conditioned such settlement to BPPR’s agreeme nt to a proportional methodology to any subsequent settlement. Under this scenario, BPPR could remain potentially liable for an additional proportional amount, should plaintiffs appeal the dismissal of their claim and win on appeal. A settlement fairness h earing has been set for July 18, 2016. Other Matters The volatility in prices and declines in value that Puerto Rico municipal bon ds and closed-end investment companies that invest primarily in Puerto Rico municipal bonds have experienced since August 2013 have led to regulatory inquiries, customer complaints and arbitrations for most broker-dealers in Puerto Rico, including Popular Securities, a wholly owned subsidiary of the Corporation. Popular Securities has received customer complaints and is named as a respondent (among other broker-dealers) in 56 arbitration proceedings with aggregate claimed damages of approximately $136 mill ion, including one arbitration with claimed damages of $78 million in which one other Puerto Rico broker-dealer is a co-defendant. The proceedings are in their early stages and it is the view of the Corporation that Popular Securities has meritorious defe nses to the claims asserted. The Government’s recent announcements regarding its ability to pay its debt and its intention to pursue a comprehensive debt restructuring, including specifically its decision on May 2, 2016 to declare a moratorium on certain p rincipal payments on bonds issued by Government Development Bank for Puerto Rico (the “GDB”), may increase the number of customer complaints (and claimed damages) against Popular Securities concerning Puerto Rico bonds, including bonds issued by GDB, and c losed-end investment companies that invest primarily in Puerto Rico bonds. An adverse result in the matters described above or a significant increase in customer complaints could have a material adverse effect on Popular. As mortgage lender s , the Corporat ion and its subsidiaries from time to time receive requests for information from departments of the U . S . government that investigate mortgage-related conduct. In particular, the BPPR has received subpoenas and other requests for information from the Feder al Housing Finance Agency’s Office of the Inspector General, the Civil Division of the Department of Justice and the Special Inspector General for the Troubled Asset Relief Program concerning mortgages and real estate appraisals in Puerto Rico. The Corpor ation is cooperating with these requests. Other Significant Proceedings As described under “Note 11 – FDIC loss share asset and true-up payment obligation”, i n connection with the Westernbank FDIC-assisted transaction, on April 30, 2010, BPPR entered into loss share agreements with the FDIC with respect to the covered loans and other real estate owned “(OREO”) that it acquired in the transaction. Pursuant to the terms of the loss share agreements, the FDIC’s obligation to reimburse BPPR for losses with respect to covered assets begins with the first dollar of loss incurred. The FDIC reimburses BPPR for 80% of losses with respect to covered assets, and BPPR reimburses the FDIC for 80% of recoveries with respect to losses for which the FDIC paid 80% reimb ursement under those loss share agreements. T he loss share agreements contain specific terms and conditions regarding the management of the covered assets that BPPR must follow in order to receive reimbursement for losses from the FDIC. BPPR believes that it has complied with such terms and conditions. The loss share agreement applicable to the covered commercial and OREO described below provides for loss sharing by the FDIC through the quarter ending June 30, 2015 and for reimbursement to the FDIC for rec overies through the quarter ending June 30, 2018. For the quarters ended June 30, 2010 through March 31, 2012, BPPR received reimbursement for loss-share claims submitted to the FDIC, including charge-offs for certain commercial late stage real-estate-col lateral-dependent loans and OREO calculated in accordance with BPPR’s charge-off policy for non-covered assets. When BPPR submitted its shared-loss claim in connection with the June 30, 2012 quarter, however, the FDIC refused to reimburse BPPR for a portio n of the claim because of a difference related to the methodology for the computation of charge-offs for certain commercial late stage real-estate-collateral-dependent loans and OREO. In accordance with the terms of the commercial loss share agreement, BPP R applied a methodology for charge-offs for late stage real-estate-collateral-dependent loans that conforms to its regulatory supervisory criteria and is calculated in accordance with BPPR’s charge-off policy for non-covered assets. The FDIC stated that it believed that BPPR should use a different methodology for those charge-offs. Notwithstanding the FDIC’s refusal to reimburse BPPR for certain shared-loss claims, BPPR had continued to calculate shared-loss claims for quarters subsequent to June 30, 2012 i n accordance with its charge-off policy for non-covered assets. BPPR’s loss share agreements with the FDIC specify that disputes can be submitted to arbitration before a review board under the commercial arbitration rules of the American Arbitration Associ ation. On July 31, 2013, BPPR filed a statement of claim with the American Arbitration Association requesting that a review board determine certain matters relating to the loss-share claims under its commercial loss share agreement with the FDIC, including that the review board award BPPR the amounts owed under its unpaid quarterly certificates. The statement of claim also included requests for reimbursement of certain valuation adjustments for discounts to appraised values, costs to sell troubled assets an d other items. The review board was comprised of one arbitrator appointed by BPPR, one arbitrator appointed by the FDIC and a third arbitrator selected by agreement of those arbitrators. On October 17, 2014, BPPR and the FDIC settled all claims and counter claims that had been submitted to the review board. The settlement provides for an agreed valuation methodology for reimbursement of charge-offs for late stage real-estate-collateral-dependent loans and resulting OREO. BPPR applied this valuation methodolo gy to charge-offs claimed on late stage real-estate-collateral-dependent loans and resulting OREO during the remaining term of the commercial loss-sharing agreement which expired on June 30, 2015. On November 25, 2014, the FDIC notified BPPR that it (a) wo uld not reimburse BPPR under the commercial loss share agreement for a $66.6 million loss claim on eight related real estate loans that BPPR restructured and consolidated (collectively, the “Disputed Asset”), and (b) would no longer treat the Disputed Asse t as a “Shared-Loss Asset” under the commercial loss share agreement. The FDIC alleged that BPPR’s restructure and modification of the underlying loans did not constitute a “Permitted Amendment” under the commercial loss share agreement, thereby causing t he bank to breach Article III of the commercial loss share agreement. BPPR disagrees with the FDIC’s determinations relating to the Disputed Asset, and accordingly, on December 19, 2014, delivered to the FDIC a notice of dispute under the commercial loss share agreement. On March 19, 2015, BPPR filed a statement of claim with the American Arbitration Association requesting that a review board determine BPPR and the FDIC’s disputes concerning the Disputed Asset. The statement of claim requests a declaration that the Disputed Asset is a “Shared-Loss Asset” under the commercial loss share agreement, a declaration that the restructuring is a “Permitted Amendment” under the commercial loss share agreement, and an order that the FDIC reimburse the bank for approx imately $53.3 million for the Charge-Off of the Disputed Asset, plus interest at the applicable rate. On April 1, 2015, the FDIC notified BPPR that it was clawing back approximately $1.7 million in reimbursable expenses relating to the Disputed Asset that the FDIC had previously paid to BPPR. Thus, on April 13, 2015, BPPR notified the American Arbitration Association and the FDIC of an increase in the amount of its damages by approximately $1.7 million. The review board in the arbitration concerning the Di sputed Asset is comprised of one arbitrator appointed by BPPR, one arbitrator appointed by the FDIC and a third arbitrator selected by agreement of those arbitrators. The arbitration hearing has been scheduled for August 2016. In addition, in November and December 2014, BPPR proposed separate portfolio sales of Shared-Loss Assets to the FDIC. The FDIC refused to consent to either sale, stating that those sales did not represent best efforts to maximize collections on Shared-Loss Assets under the commercial loss share agreement. In March 2015, BPPR proposed a third portfolio sale to the FDIC, and in May 2015, BPPR proposed a fourth portfolio sale to the FDIC. BPPR disagrees with the FDIC’s characterization of the November and December 2014 portfolio sale pr oposals and with the FDIC’s interpretation of the commercial loss share agreement provision governing portfolio sales. Accordingly, on March 13, 2015, BPPR delivered to the FDIC a notice of dispute under the commercial loss share agreement. On June 8, 2015 , BPPR filed a statement of claim with the American Arbitration Association requesting that a review board resolve the disputes concerning those proposed portfolio sales. On June 15, 2015, BPPR amended its statement of claim to include a claim for the FDIC -R’s refusal to timely concur in the third sale proposed in March 2015. On June 29, 2015, the FDIC informed BPPR that it would reimburse the bank for losses arising from the primary portfolio of the third proposed sale, but only subject to conditions to w hich BPPR objected. The FDIC also informed BPPR that it would not concur in the sale of the remainder (the “secondary portfolio”) of the third proposed sale or in the fourth proposed sale. On September 4, 2015, BPPR filed a second amended statement of cl aim concerning the FDIC’s refusal to concur in the third and fourth portfolio sales as proposed by BPPR. On November 25, 2015, BPPR conducted an auction sale of the loans in the primary portfolio of the third proposed sale and intends to submit a claim fo r reimbursement of the losses arising from that sale. The review board in the arbitration concerning the proposed portfolio sales is comprised of one arbitrator appointed by BPPR, one arbitrator appointed by the FDIC and a third arbitrator selected by agre ement of those arbitrators. The arbitration hearing is scheduled to be held in the fall of 2016. On November 12, 2015, t he FDIC notified BPPR that it (a) would deny certain claims included in BPPR’s Second Quarter 2015 Quarterly Certificate and (b) withhold payment of approximately $ 5.5 million attributed to the $6.9 million in losses claimed under the denied claims. In support of its denial, the FDIC alleged that BPPR did not comply with its obligation under the commercial loss share agreem ent, including compliance with certain provisions of GAAP, acting in accordance with prudent banking practices, managing Shared-Loss Assets in the same manner as BPPR’s non-Shared-Loss Assets, and using best efforts to maximize collections on the Shared-Lo ss Assets. BPPR disagrees with the FDIC’s allegations relating to the denied claims included in BPPR’s Second Quarter 2015 Quarterly Certificate, and accordingly, on January 27, 2016 delivered to the FDIC a notice of dispute under the commercial loss share agreement. The shared-loss arrangement described above expired on June 30, 2015. As of March 31, 201 6 , BPPR had unreimbursed loss claims related to the commercial loss-sharing arrangement amounting to $ 149 million, reflected in the FDIC indemnification asset as a receivable from the FDIC, which are subject to the arbitration proceedings described above. This figure may continue to increase to the extent that the assets that are the subject of the portfolio sales arbitration further decline in value. Until these disputes are finally resolved, the terms of the commercial loss share agreement will remain in effect with respect to any such items under dispute. No assurance can be given that we will receive reimb ursement from the FDIC with respect to the foregoing items, which could require us to make a material adjustment to the value of our loss share asset and the related true up payment obligation to the F |
Non-consolidated variable inter
Non-consolidated variable interest entities | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure Text Block | |
Non-consolidated Variable Interest Entities | Note 24 – Non-consolidated variable interest entities The Corporation is involved with four statutory trusts which it established to issue trust preferred securities to the public. These trusts are deemed to be variable interest entities (“VIEs”) since the equity investors at risk have no substantial decision-making rights. The Corporation does not hold any variable interest in the trusts, and therefore, cannot be the trusts’ primary beneficiary. Furthermore, the Corporation concluded that it did not hold a controlling financial interest in these trusts since the decisions of the trusts are predetermined through the trust documents and the guarantee of the trust preferred securities is irrelevant since in substance the sponsor is guaranteeing its o wn debt. Also, the Corporation is involved with various special purpose entities mainly in guaranteed mortgage securitization transactions, including GNMA and FNMA . These special purpose entities are deemed to be VIEs since they lack equity investme nts at risk. The Corporation’s continuing involvement in these guaranteed loan securitizations includes owning certain beneficial interests in the form of securities as well as the servicing rights retained. The Corporation is not required to provide addi tional financial support to any of the variable interest entities to which it has transferred the financial assets. The mortgage-backed securities, to the extent retained, are classified in the Corporation’s consolidated statements of financial condition a s available-for-sale or trading securities. The Corporation concluded that, essentially, these entities (FNMA and GNMA ) control the design of their respective VIEs, dictate the quality and nature of the collateral, require the underlying insurance, set the servicing standards via the servicing guides and can change them at will, and can remove a primary servicer with cause, and without cause in the case of FNMA . Moreover, through their guarantee obligations, agencies (FNMA and G N M A ) have the obligation to absorb losses that could be potentially significant to the VIE. ASU 2009-17 requires that an ongoing primary beneficiary assessment should be made to determine whether the Corporation is the primary beneficiary of any of the VIEs i t is involved with. The conclusion on the assessment of these trusts and guaranteed mortgage securitization transactions has not changed since their initial evaluation. The Corporation concluded that it is still not the primary beneficiary of these VIEs, a nd therefore, these VIEs are not required to be consolidated in the Corporation’s financial statements at March 31, 2016 . The Corporation holds variable interests in these VIEs in the form of agency mortgage-backed securities and collateralized mortgage obligations, including those securities originated by the Corporation and those acquired from third parties. Additionally, the Corporation holds agency mortgage-backed securities, agency collateralized mortgage obligations and private label collateralized mortgage obligations issued by third party VIEs in which it has no other form of continuing involvement. Refer to Note 26 to the consolidated financial statements for additional information on the debt securities outstanding at March 31, 2016 and Dec ember 31, 2015 , which are classified as available-for-sale and trading securities in the Corporation’s consolidated statements of financial condition. In addition, the Corporation may retain the right to service the transferred loans in those government -sponsored special purpose entities (“SPEs”) and may also purchase the right to service loans in other government-sponsored SPEs that were transferred to those SPEs by a third-party. Pursuant to ASC Subtopic 810-10, the servicing fees that the Corporation receives for its servicing role are considered variable interests in the VIEs since the servicing fees are subordinated to the principal and interest that first needs to be paid to the mortgage-backed securities’ investors and to the guaranty fees that nee d to be paid to the federal agencies. The following table presents the carrying amount and classification of the assets related to the Corporation’s variable interests in non-consolidated VIEs and the maximum exposure to loss as a result of the Corporatio n’s involvement as servicer with non-consolidated VIEs at March 31, 2016 and December 31, 2015 . (In thousands) March 31, 2016 December 31, 2015 Assets Servicing assets: Mortgage servicing rights $ 156,250 $ 163,224 Total servicing assets $ 156,250 $ 163,224 Other assets: Servicing advances $ 21,941 $ 24,431 Total other assets $ 21,941 $ 24,431 Total assets $ 178,191 $ 187,655 Maximum exposure to loss $ 178,191 $ 187,655 The size of the non-consolidated VIEs, in which the Corporation has a variable interest in the form of servicing fees, measured as the total unpaid principal balance of the loans, amounted to $ 12.7 billion at March 31, 2016 (December 31, 2015 - $ 12.8 billion ). Maximum exposure to loss represents the maximum loss, under a worst case scenario, that would be incurred by the Corporation, as servicer for the VIEs, assuming all loans serviced are delinquent and that the value of the Corporation’s interests and any associated collateral declines to zero, without any consideration of recovery. The Corporation determined that the maximum exposure to loss includes the fair value of the MSRs and the assumption that the servicing advances at March 31, 2016 and December 31, 2015 , will not be recovered. The agency debt securities are not included as part of the maximum exposure to loss since they are guaranteed by the related agencies. In September of 2011, BPPR sold construction and commercial real estate loans with a fair value of $ 148 million , and most of which were non-performing, to a newly created joint venture, PRLP 2011 Holdings, LLC . The joint venture was created for the limited purpose of acquiring the loans from BPPR; servicing the loans through a third-party servicer; ultimately working out, resolving and/or foreclosing the loans; and indirectly owning, operating, constructing, developing, leasing and selling any re al properties acquired by the joint venture through deed in lieu of foreclosure, foreclosure, or by resolution of any loan. BPPR provided financing to the joint venture for the acquisition of the loans in an amount equal to the sum of 57 % of the purchase price of the loans, or $ 84 million , and $ 2 million of closing costs, for a total acquisition loan of $ 86 million (the “acquisition loan”). The acquisition loan has a 5-year maturity and bears a variable interest at 30-day LIBOR plus 300 basis points and is secured by a pledge of all of the acquiring entity’s assets. In addition, BPPR provided the joint venture with a non-revolving advance facility (the “advance facility”) of $ 68.5 million to cover unfunded commitments and costs-to-complete relat ed to certain construction projects, and a revolving working capital line (the “working capital line”) of $ 20 million to fund certain operating expenses of the joint venture. Cash proceeds received by the joint venture are first used to cover debt service payments for the acquisition loan, advance facility, and the working capital line described above which must be paid in full before proceeds can be used for other purposes. The distributable cash proceeds are determined based on a pro-rata basis in accordance with the respective equity ownership percentages. BPPR’s equity interest in the joint venture ranks pari-passu with those of other parties involved. As part of the transaction executed in September 2011, BPPR received $ 48 million in cas h and a 24.9 % equity interest in the joint venture. The Corporation is not required to provide any other financial support to the joint venture. BPPR accounted for this transaction as a true sale pursuant to ASC Subtopic 860-10 and thus recognized the cash received, its equity investment in the joint venture, and the acquisition loan provided to the joint venture and derecognized the loans sold. The Corporation has determined that PRLP 2011 Holdings, LLC is a VIE but it is not the primary beneficiary. All decisions are made by Caribbean Property Group (“ CPG ”) (or an affiliate thereof) (the “Manager”), except for certain limited material decisions which would require the unanimous consent of all members. The Manager is authorized to execute and deliver on behalf of the joint venture any and all documents, contracts, certificates, agreements and instruments, and to take any action deemed necessary in the benefit of the joint venture. The Corporation holds variable interests in this VIE in the form of the 24.9 % equity interest (the “Investment in PRLP 2011 Holdings, LLC”) and the financing provided to the joint venture. The equity interest is accounted for under the equity method of accounting pursuant to ASC Subtopic 323-10. The initial f air value of the Corporation’s equity interest in the joint venture was determined based on the fair value of the loans and real estate owned transferred to the joint venture of $148 million which represented the purchase price of the loans agreed by the p arties and was an arm’s-length transaction between market participants in accordance with ASC Topic 820, reduced by the acquisition loan provided by BPPR to the joint venture, for a total net equity of $63 million . Accordingly, the 24.9% equity interest held by the Corporation was valued at $16 million . Thus, the fair value of the equity interest is considered a Level 2 fair value measurement since the inputs were based on observable market inputs. The following table presents the carryi ng amount and classification of the assets and liabilities related to the Corporation’s variable interests in the non-consolidated VIE, PRLP 2011 Holdings, LLC, and its maximum exposure to loss at March 31, 2016 and December 31, 2015 . (In thousands) March 31, 2016 December 31, 2015 Assets Loans held-in-portfolio: Advances under the working capital line $ - $ 579 Advances under the advance facility - 401 Total loans held-in-portfolio $ - $ 980 Accrued interest receivable $ - $ 10 Other assets: Investment in PRLP 2011 Holdings LLC $ 10,749 $ 13,069 Total assets $ 10,749 $ 14,059 Deposits $ (3,347) $ (18,808) Total liabilities $ (3,347) $ (18,808) Total net assets (liabilities) $ 7,402 $ (4,749) Maximum exposure to loss $ 7,402 $ - The Corporation determined that the maximum exposure to loss under a worst case scenario at March 31, 2016 would be not recovering the equity interest held by the Corporation, net of the deposits. On March 25, 2013, BPPR completed a sale of assets with a book value of $ 509.0 million , of which $ 500.6 million were in non-performing status , comprised of commercial and construction loans, and commercial and single family real estate owned, with a combined unpaid principal balance on loans and appraised value of other real estate owned of approximately $ 987.0 million to a newly created joint venture, PR Asset Portfolio 2013-1 . The joint venture was created for the limited purpose of acquiring the loans from BPPR; servicing the loans through a third-p arty servicer; ultimately working out, resolving and/or foreclosing the loans; and indirectly owning, operating, constructing, developing, leasing and selling any real properties acquired by the joint venture through deed in lieu of foreclosure, foreclosur e, or by resolution of any loan. BPPR provided financing to the joint venture for the acquisition of the assets in an amount equal to the sum of 57 % of the purchase price of the assets, and closing costs, for a total acquisition loan of $ 182.4 million (the “acquisition loan”). The acquisition loan has a 5-year maturity and bears a variable interest at 30-day LIBOR plus 300 basis points and is secured by a pledge of all of the acquiring entity’s assets. In addition, BPPR provided the joint venture with a non-revolving advance facility (the “advance facility”) of $ 35.0 million to cover unfunded commitments and costs-to-complete related to certain construction projects, and a revolving working capital line (the “working capital line”) of $ 30.0 million to fund certain operating expenses of the joint v enture. Cash proceeds received by the joint venture are first used to cover debt service payments for the acquisition loan, advance facility, and the working capital line described above which must be paid in full before proceeds can be used for other purp oses. The distributable cash proceeds are determined based on a pro-rata basis in accordance with the respective equity ownership percentages. BPPR’s equity interest in the joint venture ranks pari-passu with those of other parties involved. As part of the transaction executed in March 2013, BPPR received $ 92.3 million in cash and a 24.9 % equity interest in the joint venture. The Corporation is not required to provide any other financial support to the joint venture. BPPR accounted for this transa ction as a true sale pursuant to ASC Subtopic 860-10 and thus recognized the cash received, its equity investment in the joint venture, and the acquisition loan provided to the joint venture and derecognized the loans and real estate owned sold. The Corpor ation has determined that PR Asset Portfolio 2013-1 International, LLC is a VIE but the Corporation is not the primary beneficiary. All decisions are made by CPG (or an affiliate thereof) (the “Manager”), except for certain limited material decisions which would require the unanimous consent of all members. The Manager is authorized to execute and deliver on behalf of the joint venture any and all documents, contracts, certificates, agreements and instruments, and to take any action deemed necessary in the benefit of the joint venture . Also, the Manager delegates the day-to-day management and servicing of the loans to PR Asset Portfolio Servicing International, LLC , an affiliate of CPG . The initial fair value of the Corporation’s equity interest in the joint venture was determined based on the fair value of the loans and real estate owned transferred to the joint venture of $306 million which represented the purchase price of the loans ag reed by the parties and was an arm’s-length transaction between market participants in accordance with ASC Topic 820, reduced by the acquisition loan provided by BPPR to the joint venture, for a total net equity of $124 million. Accordingly, the 24.9% equi ty interest held by the Corporation was valued at $31 million. Thus, the fair value of the equity interest is considered a Level 2 fair value measurement since the inputs were based on observable market inputs. The Corporation holds variable interests in this VIE in the form of the 24.9 % e quity interest (the “Investment in PR Asset Portfolio 2013-1 International, LLC”) and the financing provided to the joint venture. The equity interest is accounted for under the equity method of accounting pursuant t o ASC Subtopic 323-10. The following table presents the carrying amount and classification of the assets and liabilities related to the Corporation’s variable interests in the non-consolidated VIE, PR Asset Portfolio 2013-1 International, LLC, and its max imum exposure to loss at March 31, 2016 and December 31, 2015 . (In thousands) March 31, 2016 December 31, 2015 Assets Loans held-in-portfolio: Acquisition loan $ 9,932 $ 35,121 Advances under the working capital line 829 885 Advances under the advance facility 24,267 22,296 Total loans held-in-portfolio $ 35,028 $ 58,302 Accrued interest receivable $ 130 $ 169 Other assets: Investment in PR Asset Portfolio 2013-1 International, LLC $ 24,572 $ 25,094 Total assets $ 59,730 $ 83,565 Deposits $ (10,360) $ (11,772) Total liabilities $ (10,360) $ (11,772) Total net assets $ 49,370 $ 71,793 Maximum exposure to loss $ 49,370 $ 71,793 The Corporation determined that the maximum exposure to loss under a worst case scenario at March 31, 2016 would be not recovering the carrying amount of the acquisition loan, the advances on the advance facility and working capital line, if any, and the equity interest held by the Corporation, net of the deposits. |
Related party transactions
Related party transactions | 3 Months Ended |
Mar. 31, 2016 | |
Related Party Transactions | |
Related Party Transactions | Note 25 – Related party transactions EVERTEC The Corporation has an investment in EVERTEC, Inc. (“EVERTEC”), which provides various processing and information technology services to the Corporation and its subsidiaries and gives BPPR access to the ATH network owned and operated by EVERTEC. As of March 31, 2016 , the Corporation’s stake in EVERTEC was 15.58%.The Corporation continues to have significant influence over EVERTEC. Accordingly, the investment in EVERTEC is accounted for under the equity method and is evaluated for impairment if events or circumstances indicate that a decrease in value of the investment has occurred that is other than temporary. As disclosed in its recent SEC filings, EVERTEC has announced that it will restate its financial statements as of December 31, 2014 and 2013 and for the three year period ending in December 31, 2014 and as of the end of and for each quarterly period in 2014 and 2015 . Specifically, EVERTEC identified an accounting position that required reevaluation with respect to a net operating loss pert aining to certain 2010 expenditures. These expenditures resulted in a deferred tax asset of approximately $14 million as of December 31, 2010 which is being reevaluated along with any additional related tax liabilities and the impact in subsequent periods. As of the date of this filing, EVERTEC has not completed its restatement of its financial statements and therefore Popular’s results for the first quarter of 2016 do not include the impact of any related adjustment s, which would be limited to our 15.58% ownership stak e. Popular does not expect that the impact of these adjustments will have a material effect on its financial statements . The Corporation received $ 1.2 million in dividend distributions during the quarter ended March 31, 2016 from its investments in EVERTEC’s holding company ( March 31, 2015 - $ 1.2 million). The Corporation’s equity in EVERTEC is presented in the table which follows and is included as part of “other assets” in the consolidated statement s of financial condition. (In thousands) March 31, 2016 December 31, 2015 Equity investment in EVERTEC $ 35,162 $ 33,590 The Corporation had the following financial condition balances outstanding with EVERTEC at March 31, 2016 and December 31, 2015 . Items that represent liabilities to the Corporation are presented with parenthesis. (In thousands) March 31, 2016 December 31, 2015 Accounts receivable (Other assets) $ 2,980 $ 3,148 Deposits (21,322) (23,973) Accounts payable (Other liabilities) (17,480) (16,192) Net total $ (35,822) $ (37,017) The Corporation’s proportionate share of income or loss from EVERTEC is included in other operating income in the consolidated statements of operations. The Corporation’s proportionate share of EVERTEC’s income and changes in stockholders’ equity was immaterial for the quarters ended March 31, 2016 and 2015 . The following tables present the impact of transactions and service payments between the Corporation and EVERTEC (as an affiliate) and their impact on the results of operations for the quarters ended March 31, 2016 and 2015 . Items that represent expenses to the Corporation are presented with parenthesis. Quarters ended March 31, (In thousands) 2016 2015 Category Interest expense on deposits $ (19) $ (11) Interest expense ATH and credit cards interchange income from services to EVERTEC 6,918 6,487 Other service fees Rental income charged to EVERTEC 1,736 1,724 Net occupancy Processing fees on services provided by EVERTEC (43,516) (39,504) Professional fees Other services provided to EVERTEC 256 324 Other operating expenses Total $ (34,625) $ (30,980) PRLP 2011 Holdings , LLC As indicated in Note 24 to the consolidated financial statements, the Corporation holds a 24.9 % equity interest in PRLP 2011 Holdings, LLC and currently holds certain deposits from the entity. The Corporation’s equity in PRLP 2011 Holdings, LLC is presented in the table which follows and is included as part of “other assets” in the consolidated statement s of financial condition . (In thousands) March 31, 2016 December 31, 2015 Equity investment in PRLP 2011 Holdings, LLC $ 10,749 $ 13,069 The Corporation had the following financial condition balances outstanding with PRLP 2011 Holdings, LLC at March 31, 2016 and December 31, 2015 . (In thousands) March 31, 2016 December 31, 2015 Loans $ - $ 980 Accrued interest receivable - 10 Deposits (non-interest bearing) (3,347) (18,808) Net total $ (3,347) $ (17,818) The Corporation’s proportionate share of income or loss from PRLP 2011 Holdings, LLC is included in other operating income in the consolidated statements of operations. The following table presents the Corporation’s proportionate share of income (loss) from PRLP 2011 Holdings, LLC for the quarters ended March 31, 2016 and 2015 . Quarters ended March 31, (In thousands) 2016 2015 Share of (loss) income from the equity investment in PRLP 2011 Holdings, LLC $ (542) $ 1,033 The following table present s transactions between the Corporation and PRLP 2011 Holdings, LLC and their impact on the Corporation’s results of operations for the quarters ended March 31, 2016 and 2015 . Quarters ended March 31, (In thousands) 2016 2015 Category Interest income on loan to PRLP 2011 Holdings, LLC $ 11 $ 62 Interest income PR Asset Portfolio 2013-1 International, LLC As indicated in Note 24 to the consolidated financial statements, effective March 2013 the Corporation holds a 24.9 % equity interest in PR Asset Port folio 2013-1 International, LLC and currently provides certain financing to the joint venture as well as holds certain deposits from the entity. The Corporation’s equity in PR Asset Portfolio 2013-1 International, LLC is presented in the table which follows and is included as part of “other assets” i n the consolidated statement s of financial condition . (In thousands) March 31, 2016 December 31, 2015 Equity investment in PR Asset Portfolio 2013-1 International, LLC $ 24,572 $ 25,094 The Corporation had the following financial condition balances outstanding with PR Asset Portfolio 2013-1 International, LLC, at March 31, 2016 a nd December 31, 2015 . (In thousands) March 31, 2016 December 31, 2015 Loans $ 35,028 $ 58,302 Accrued interest receivable 130 169 Deposits (10,360) (11,772) Net total $ 24,798 $ 46,699 The Corporation’s proportiona te share of income or loss from PR Asset Portfolio 2013-1 International, LLC is included in other operating income in the consolidated statements of operations. The following table presents the Corporation’s proportionate share of loss from PR Asset Portfolio 2013-1 International, LLC for quarters ended March 31, 2016 and 2015 . Quarters ended March 31, (In thousands) 2016 2015 Share of loss from the equity investment in PR Asset Portfolio 2013-1 International, LLC $ (522) $ (4,335) The following table present s transactions between the Corporation and PR Asset Portfolio 2013-1 International, LLC and their impact on the Corporation’s results of operations for the quarters ended March 31, 2016 and 2015 . Quarters ended March 31, (In thousands) 2016 2015 Category Interest income on loan to PR Asset Portfolio 2013-1 International, LLC $ 445 $ 866 Interest income Interest expense on deposits (1) - Interest expense Total $ 444 $ 866 |
Fair value measurement
Fair value measurement | 3 Months Ended |
Mar. 31, 2016 | |
Fair Value Disclosures | |
Fair Value Measurement | Note 26 – Fair value measurement ASC Subtopic 820-10 “Fair Value Measurements and Disclosures” establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels in order to increase consistency and comparability in fair value measurements and disclosures. The hierarchy is broken down into three levels based on the reliability of inputs as follows: Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Corporation has the ability to access at the measurement date. Valuation on these instruments does not necessitate a significant degree of judgment since valuations are based on quoted prices that are readily available in an active market. Level 2 - Quoted prices other than those inc luded in Level 1 that are observable either directly or indirectly. Level 2 inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, or ot her inputs that are observable or that can be corroborated by observable market data for substantially the full term of the financial instrument. Level 3 - Inputs are unobservable and significant to the fair value measurement. Unobservable inputs reflect t he Corporation’s own assumptions about assumptions that market participants would use in pricing the asset or liability. The Corporation maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the observable in puts be used when available. Fair value is based upon quoted market prices when available. If listed prices or quotes are not available, the Corporation employs internally-developed models that primarily use market-based inputs including yield curves, inte rest rates, volatilities, and credit curves, among others. Valuation adjustments are limited to those necessary to ensure that the financial instrument’s fair value is adequately representative of the price that would be received or paid in the marketplace . These adjustments include amounts that reflect counterparty credit quality, the Corporation’s credit standing, constraints on liquidity and unobservable parameters that are applied consistently. There have been no changes in the Corporation’s methodolog ies used to estimate the fair value of assets and liabilities from those disclosed in the 2015 Form 10-K. The estimated fair value may be subjective in nature and may involve uncertainties and matters of significant judgment for certain financial instrumen ts. Changes in the underlying assumptions used in calculating fair value could significantly affect the results. Fair Value on a Recurring and Nonrecurring Basis The following fair value hierarchy tables present information about the Corporation’s assets a nd liabilities measured at fair value on a recurring basis at March 31, 2016 and December 31, 2015 : At March 31, 2016 (In thousands) Level 1 Level 2 Level 3 Total RECURRING FAIR VALUE MEASUREMENTS Assets Investment securities available-for-sale: U.S. Treasury securities $ - $ 1,323,352 $ - $ 1,323,352 Obligations of U.S. Government sponsored entities - 932,938 - 932,938 Obligations of Puerto Rico, States and political subdivisions - 23,730 - 23,730 Collateralized mortgage obligations - federal agencies - 1,513,571 - 1,513,571 Mortgage-backed securities - 2,842,284 1,422 2,843,706 Equity securities 285 2,154 - 2,439 Other - 10,094 - 10,094 Total investment securities available-for-sale $ 285 $ 6,648,123 $ 1,422 $ 6,649,830 Trading account securities, excluding derivatives: Obligations of Puerto Rico, States and political subdivisions $ - $ 4,307 $ - $ 4,307 Collateralized mortgage obligations - 217 1,783 2,000 Mortgage-backed securities - federal agencies - 46,716 5,397 52,113 Other - 12,201 663 12,864 Total trading account securities $ - $ 63,441 $ 7,843 $ 71,284 Mortgage servicing rights $ - $ - $ 205,051 $ 205,051 Derivatives - 15,012 - 15,012 Total assets measured at fair value on a recurring basis $ 285 $ 6,726,576 $ 214,316 $ 6,941,177 Liabilities Derivatives $ - $ (12,068) $ - $ (12,068) Contingent consideration - - (120,823) (120,823) Total liabilities measured at fair value on a recurring basis $ - $ (12,068) $ (120,823) $ (132,891) At December 31, 2015 (In thousands) Level 1 Level 2 Level 3 Total RECURRING FAIR VALUE MEASUREMENTS Assets Investment securities available-for-sale: U.S. Treasury securities $ - $ 1,183,328 $ - $ 1,183,328 Obligations of U.S. Government sponsored entities - 939,641 - 939,641 Obligations of Puerto Rico, States and political subdivisions - 22,359 - 22,359 Collateralized mortgage obligations - federal agencies - 1,560,837 - 1,560,837 Mortgage-backed securities - 2,342,762 1,434 2,344,196 Equity securities 276 2,122 - 2,398 Other - 10,233 - 10,233 Total investment securities available-for-sale $ 276 $ 6,061,282 $ 1,434 $ 6,062,992 Trading account securities, excluding derivatives: Obligations of Puerto Rico, States and political subdivisions $ - $ 4,590 $ - $ 4,590 Collateralized mortgage obligations - 223 1,831 2,054 Mortgage-backed securities - federal agencies - 44,701 6,454 51,155 Other - 13,173 687 13,860 Total trading account securities $ - $ 62,687 $ 8,972 $ 71,659 Mortgage servicing rights $ - $ - $ 211,405 $ 211,405 Derivatives - 16,959 - 16,959 Total assets measured at fair value on a recurring basis $ 276 $ 6,140,928 $ 221,811 $ 6,363,015 Liabilities Derivatives $ - $ (14,343) $ - $ (14,343) Contingent consideration - - (120,380) (120,380) Total liabilities measured at fair value on a recurring basis $ - $ (14,343) $ (120,380) $ (134,723) The fair value information included in the following tables is not as of period end , but as of the date that the fair value measurement was recorded during the quarters ended March 31, 2016 and 2015 and excludes nonrecurring fair value measurements of assets no longer held by the Corporation. Quarter ended March 31, 2016 (In thousands) Level 1 Level 2 Level 3 Total NONRECURRING FAIR VALUE MEASUREMENTS Assets Write-downs Loans [1] $ - $ - $ 30,785 $ 30,785 $ (22,850) Loans held-for-sale [2] - - 1,829 1,829 (296) Other real estate owned [3] - - 18,592 18,592 (3,920) Other foreclosed assets [3] - - 66 66 (11) Total assets measured at fair value on a nonrecurring basis $ - $ - $ 51,272 $ 51,272 $ (27,077) 1] Relates mostly to certain impaired collateral dependent loans. The impairment was measured based on the fair value of the collateral, which is derived from appraisals that take into consideration prices in observed transactions involving similar assets in similar locations, in accordance with the provisions of ASC Section 310-10-35 . Costs to sell are excluded from the reported fair value amount [2] Relates to lower of cost or fair value adjustments o n loans held-for-sale and loans transferred from loans held-in-portfolio to loans held-for-sale . Costs to sell are excluded from the reported fair value amount . [3] Represents the fair value of foreclosed real estate and other collateral owned that were written down to their fair value . Costs to sell are excluded from the reported fair value amount. Quarter ended March 31, 2015 (In thousands) Level 1 Level 2 Level 3 Total NONRECURRING FAIR VALUE MEASUREMENTS Assets Write-downs Loans [1] $ - $ - $ 132,007 $ 132,007 $ (26,817) Other real estate owned [3] - 6,098 30,304 36,402 (17,936) Other foreclosed assets [3] - 20 131 151 (608) Total assets measured at fair value on a nonrecurring basis $ - $ 6,118 $ 162,442 $ 168,560 $ (45,361) [1] Relates mostly to certain impaired collateral dependent loans. The impairment was measured based on the fair value of the collateral, which is derived from appraisals that take into consideration prices in observed transactions involving similar assets in similar locations, in accordance with the provisions of ASC Section 310-10-35 .Costs to sell are excluded from the reported fair value amount . [2] Relates to lower of cost or fair value adjustments o n loans held-for-sale and loans transferred fro m loans held-in-portfolio to loans held-for-sale . Costs to sell are excluded from the reported fair value amount . [3] Represents the fair value of foreclosed real estate and other collateral owned that were written down to their fair value . Costs to sell are excluded from the reported fair value amount . The following tables present the changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the quarters ended March 31, 2016 and 2015 . Quarter ended March 31, 2016 MBS Other classified CMOs securities as investment classified MBS classified securities as trading classified as as trading Mortgage available- account trading account account servicing Total Contingent Total (In thousands) for-sale securities securities securities rights assets consideration liabilities Balance at January 1, 2016 $ 1,434 $ 1,831 $ 6,454 $ 687 $ 211,405 $ 221,811 $ (120,380) $ (120,380) Gains (losses) included in earnings (2) (6) 89 (24) (8,477) (8,420) (443) (443) Gains (losses) included in OCI 15 - - - - 15 - - Additions - 174 338 - 2,123 2,635 - - Sales - (106) (1,120) - - (1,226) - - Settlements (25) (110) (364) - - (499) - - Balance at March 31, 2016 $ 1,422 $ 1,783 $ 5,397 $ 663 $ 205,051 $ 214,316 $ (120,823) $ (120,823) Changes in unrealized gains (losses) included in earnings relating to assets still held at March 31, 2016 $ - $ (3) $ 86 $ 11 $ (3,866) $ (3,772) $ (443) $ (443) Quarter ended March 31, 2015 MBS Other classified CMOs securities as investment classified MBS classified securities as trading classified as as trading Mortgage available- account trading account account servicing Total Contingent Total (In thousands) for-sale securities securities securities rights assets consideration liabilities Balance at January 1, 2015 $ 1,325 $ 1,375 $ 6,229 $ 1,563 $ 148,694 $ 159,186 $ (133,634) $ (133,634) Gains (losses) included in earnings (8) (2) 16 (19) (4,929) (4,942) 4,164 4,164 Additions 118 - 130 - 5,259 5,507 - - Sales - (44) (80) - - (124) - - Settlements - (87) (74) - - (161) - - Balance at March 31, 2015 $ 1,435 $ 1,242 $ 6,221 $ 1,544 $ 149,024 $ 159,466 $ (129,470) $ (129,470) Changes in unrealized gains (losses) included in earnings relating to assets still held at March 31, 2015 $ - $ (2) $ 18 $ 23 $ (684) $ (645) $ 4,164 $ 4,164 There were no transfers in and/or out of Level 1, Level 2, or Level 3 for financial instruments measured at fair value on a recurring basis during the quarter s ended March 31, 2016 and 2015 . Gains and losses (realized and unrealized) included in earnings for the quarter s ended March 31, 2016 and 2015 for Level 3 assets and liabilities included in the previous tables are reported in the consolidated statement s of operations as follows: Quarter ended March 31, 2016 Quarter ended March 31, 2015 Changes in unrealized Changes in unrealized Total gains gains (losses) relating to Total gains gains (losses) relating to (losses) included assets still held at (losses) included assets still held at (In thousands) in earnings reporting date in earnings reporting date Interest income $ (2) $ - $ (8) $ - FDIC loss share (expense) income (443) (443) 4,164 4,164 Other service fees (8,477) (3,866) (4,929) (684) Trading account (loss) profit 59 94 (5) 39 Total $ (8,863) $ (4,215) $ (778) $ 3,519 The following table includes quantitative information about significant unobservable inputs used to derive the fair value of Level 3 instruments, excluding those instruments for which the unobservable inputs were not developed by the Corporation such as prices of prior transactions and/or unadjusted third-party pricing sources. Fair value at March 31, (In thousands) 2016 Valuation technique Unobservable inputs Weighted average (range) CMO's - trading $ 1,783 Discounted cash flow model Weighted average life 2.9 years (0.4 - 4.6 years) Yield 3.8% (1.1% - 4.7%) Prepayment speed 20.8% (18.0% - 24.1%) Other - trading $ 663 Discounted cash flow model Weighted average life 5.4 years Yield 12.2 % Prepayment speed 10.8 % Mortgage servicing rights $ 205,051 Discounted cash flow model Prepayment speed 6.4% (0.2% - 12.0%) Weighted average life 6.6 years (0.1 - 15.8 years) Discount rate 11.2% (9.5% - 15.0%) Contingent consideration $ (120,188) Discounted cash flow model Credit loss rate on covered loans 2.9% (0.0% - 100.0%) Risk premium component of discount rate 6.9 % Loans held-in-portfolio $ 30,785 [1] External appraisal Haircut applied on external appraisals 40.0% (39.7% - 40.0%) Other real estate owned $ 18,368 [2] External appraisal Haircut applied on external appraisals 20.1% (10.0% - 40.0%) The significant unobservable inputs used in the fair value measurement of the Corporation’s collateralized mortgage obligations and interest-only collateralized mortgage obligation (reported as “other”), which are classified in the “trading” category, are yield, constant prepayment rate, and weighted average life. Significant increases (decreases) in any of those inputs in isolation would result in significantly lower (higher) fair value measurement. Generally, a change in the assumption used for the const ant prepayment rate will generate a directionally opposite change in the weighted average life. For example, as the average life is reduced by a higher constant prepayment rate, a lower yield will be realized, and when there is a reduction in the constant prepayment rate, the average life of these collateralized mortgage obligations will extend, thus resulting in a higher yield . These particular financial instruments are valued internally by the Corporation’s investment banking and broker-dealer unit utiliz ing internal valuation techniques. The unobservable inputs incorporated into the internal discounted cash flow models used to derive the fair value of collateralized mortgage obligations and interest-only collateralized mortgage obligation (reported as “ot her”), which are classified in the “trading” category, are reviewed by the Corporation’s Corporate Treasury unit on a quarterly basis. In the case of Level 3 financial instruments which fair value is based on broker quotes, the Corporation’s Corporate Trea sury unit reviews the inputs used by the broker-dealers for reasonableness utilizing information available from other published sources and validates that the fair value measurements were developed in accordance with ASC Topic 820. The Corporate Treasury u nit also substantiates the inputs used by validating the prices with other broker-dealers, whenever possible. The significant unobservable inputs used in the fair value measurement of the Corporation’s mortgage servicing rights are constant prepayment rate s and discount rates. I ncreases in interest rates may result in lower prepayments . Discount rates vary according to products and / or portfolios depending on the perceived risk. Increases in discount rates result in a lower fair value measurement. The Corp oration’s Corporate Comptroller’s unit is responsible for determining the fair value of MSRs, which is based on discounted cash flow methods based on assumptions developed by an external service provider, except for prepayment speeds, which are adjusted in ternally for the local market based on historical experience. The Corporation’s Corporate Treasury unit validates the economic assumptions developed by the external service provider on a quarterly basis. In addition, an analytical review of prepayment spee ds is performed quarterly by the Corporate Comptroller’s unit . The Corporation’s MSR Committee analyzes changes in fair value measurements of MSRs and approves the valuation assumptions at each reporting period. Changes in valuation assumptions must also be approved by the MSR Committee. The fair value of MSRs are compared with those of the external service provider on a quarterly basis in order to validate if the fa ir values are within the materiality thresholds established by management to monitor and investigate material deviations. Back-testing is performed to compare projected cash flows with actual historical data to ascertain the reasonability of the projected net cash flow results. |
Fair value of financial instrum
Fair value of financial instruments | 3 Months Ended |
Mar. 31, 2016 | |
Fair Value Disclosures | |
Fair Value of Financial Instruments | Note 27 – Fair value of financial instruments The fair value of financial instruments is the amount at which an assets or obligations could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. For those financial instruments with no quoted market prices available, fair values have been estimated using present value calculations or other valuation techniques, as well as management’s best judgment with respect to current economic conditions, including discount rates, estimates of future cash flows, and prepayment assumptions. Many of these estimates involve vario us assumptions and may vary significantly from amounts that could be realized in actual transactions. The fair values reflected herein have been determined based on the prevailing rate environment at March 31, 2016 and December 31, 2015 , as applica ble. In different interest rate environments, fair value estimates can differ significantly, especially for certain fixed rate financial instruments. In addition, the fair values presented do not attempt to estimate the value of the Corporation’s fee gener ating businesses and anticipated future business activities, that is, they do not represent the Corporation’s value as a going concern. The following tables present the carrying amount, or notional amounts, as applicable, and estimated fair values of fina ncial instruments with their corresponding level in the fair value hierarchy. The aggregate fair value amounts of the financial instruments disclosed do not represent management’s estimate of the underlying value of the Corporation. March 31, 2016 Carrying (In thousands) amount Level 1 Level 2 Level 3 Fair value Financial Assets: Cash and due from banks $ 409,623 $ 409,623 $ - $ - $ 409,623 Money market investments 1,917,460 1,808,513 108,947 - 1,917,460 Trading account securities, excluding derivatives [1] 71,284 - 63,441 7,843 71,284 Investment securities available-for-sale [1] 6,649,830 285 6,648,123 1,422 6,649,830 Investment securities held-to-maturity: Obligations of Puerto Rico, States and political subdivisions $ 97,130 $ - $ - $ 78,849 $ 78,849 Collateralized mortgage obligation-federal agency 86 - - 91 91 Other 2,000 - 1,736 238 1,974 Total investment securities held-to-maturity $ 99,216 $ - $ 1,736 $ 79,178 $ 80,914 Other investment securities: FHLB stock $ 55,817 $ - $ 55,817 $ - $ 55,817 FRB stock 93,086 - 93,086 - 93,086 Trust preferred securities 13,198 - 13,198 - 13,198 Other investments 1,923 - - 5,010 5,010 Total other investment securities $ 164,024 $ - $ 162,101 $ 5,010 $ 167,111 Loans held-for-sale $ 125,315 $ - $ - $ 126,872 $ 126,872 Loans not covered under loss sharing agreement with the FDIC 21,999,310 - - 20,633,219 20,633,219 Loans covered under loss sharing agreements with the FDIC 595,085 - - 553,280 553,280 FDIC loss share asset 219,448 - - 235,943 235,943 Mortgage servicing rights 205,051 - - 205,051 205,051 Derivatives 15,012 - 15,012 - 15,012 March 31, 2016 Carrying (In thousands) amount Level 1 Level 2 Level 3 Fair value Financial Liabilities: Deposits: Demand deposits $ 19,648,830 $ - $ 19,648,830 $ - $ 19,648,830 Time deposits 7,877,763 - 7,855,406 - 7,855,406 Total deposits $ 27,526,593 $ - $ 27,504,236 $ - $ 27,504,236 Federal funds purchased and assets sold under agreements to repurchase $ 760,154 $ - $ 762,053 $ - $ 762,053 Other short-term borrowings [2] $ 6,370 $ - $ 6,370 $ - $ 6,370 Notes payable: FHLB advances $ 682,161 $ - $ 708,394 $ - $ 708,394 Unsecured senior debt securities 443,225 - 421,463 - 421,463 Junior subordinated deferrable interest debentures (related to trust preferred securities) 439,303 - 351,345 - 351,345 Others 18,779 - - 18,779 18,779 Total notes payable $ 1,583,468 $ - $ 1,481,202 $ 18,779 $ 1,499,981 Derivatives $ 12,068 $ - $ 12,068 $ - $ 12,068 Contingent consideration $ 120,823 $ - $ - $ 120,823 $ 120,823 (In thousands) Notional amount Level 1 Level 2 Level 3 Fair value Commitments to extend credit $ 7,532,634 $ - $ - $ 518 $ 518 Letters of credit 37,812 - - 767 767 [1 ] Refer to Note 29 to the consolidated financial statements for the fair value by class of financial asset and its hierarchy level. [ 2 ] Refer to Note 20 to the consolidated financial statements for the composition of short-term borrowings. December 31, 2015 Carrying (In thousands) amount Level 1 Level 2 Level 3 Fair value Financial Assets: Cash and due from banks $ 363,674 $ 363,674 $ - $ - $ 363,674 Money market investments 2,180,092 2,083,839 96,253 - 2,180,092 Trading account securities, excluding derivatives [1] 71,659 - 62,687 8,972 71,659 Investment securities available-for-sale [1] 6,062,992 276 6,061,282 1,434 6,062,992 Investment securities held-to-maturity: Obligations of Puerto Rico, States and political subdivisions 98,817 - - 80,815 80,815 Collateralized mortgage obligation-federal agency 86 - - 91 91 Other 2,000 - 1,740 243 1,983 Total investment securities held-to-maturity $ 100,903 $ - $ 1,740 $ 81,149 $ 82,889 Other investment securities: FHLB stock $ 59,387 $ - $ 59,387 $ - $ 59,387 FRB stock 97,740 - 97,740 - 97,740 Trust preferred securities 13,198 - 13,198 - 13,198 Other investments 1,923 - - 4,966 4,966 Total other investment securities $ 172,248 $ - $ 170,325 $ 4,966 $ 175,291 Loans held-for-sale $ 137,000 $ - $ 1,364 $ 138,031 $ 139,395 Loans not covered under loss sharing agreement with the FDIC 21,843,180 - - 20,849,150 20,849,150 Loans covered under loss sharing agreements with the FDIC 611,939 - - 593,002 593,002 FDIC loss share asset 310,221 - - 313,224 313,224 Mortgage servicing rights 211,405 - - 211,405 211,405 Derivatives 16,959 - 16,959 - 16,959 December 31, 2015 Carrying (In thousands) amount Level 1 Level 2 Level 3 Fair value Financial Liabilities: Deposits: Demand deposits $ 19,044,355 $ - $ 19,044,355 $ - $ 19,044,355 Time deposits 8,165,368 - 8,134,029 - 8,134,029 Total deposits $ 27,209,723 $ - $ 27,178,384 $ - $ 27,178,384 Federal funds purchased and assets sold under agreements to repurchase $ 762,145 $ - $ 764,599 $ - $ 764,599 Other short-term borrowings [2] $ 1,200 $ - $ 1,200 $ - $ 1,200 Notes payable: FHLB advances 761,501 - 780,411 - 780,411 Unsecured senior debt 442,704 - 435,186 - 435,186 Junior subordinated deferrable interest debentures (related to trust preferred securities) 439,295 - 352,673 - 352,673 Others 19,008 - - 19,008 19,008 Total notes payable $ 1,662,508 $ - $ 1,568,270 $ 19,008 $ 1,587,278 Derivatives $ 14,343 $ - $ 14,343 $ - $ 14,343 Contingent consideration $ 120,380 $ - $ - $ 120,380 $ 120,380 (In thousands) Notional amount Level 1 Level 2 Level 3 Fair value Commitments to extend credit $ 7,434,108 $ - $ - $ 1,080 $ 1,080 Letters of credit 51,710 - - 572 572 [1 ] Refer to Note 26 to the consolidated financial statements for the fair value by class of financial asset and its hierarchy level. [ 2 ] Refer to Note 18 to the consolidated financial statements for the composition of short-term borrowings. Following is a description of the Corporation’s valuation methodologies and inputs used to estimate the fair values for each class of financial assets and liabilities not measured at fair value, but for which the fair value is disclosed. Cash and due from banks Cash and due from banks include cash on hand, cash items in process of collection, and non-interest bearing deposits due from other financial institutions. The carrying amount of cash and due from banks is a reasonable estimate of its fair value . Ca sh and due from banks are classified as Level 1 . Money market investments Investments in money market instruments include highly liquid instruments with an average maturity of three months or less. For this reason, they carry a low risk of changes in value as a result of changes in interest rates, and the carrying amount approximates their fair value. Money market investments include federal funds sold, securities purchased under agreements to resell, time deposits with other banks, and cash balances, incl uding those held at the Federal Reserve. These money market investments are classified as Level 2, except for cash balances which generate interest, including those held at the Federal Reserve, which are classified as Level 1. Investment securities held-to -maturity Obligations of Puerto Rico, States and political subdivisions: Municipal bonds include Puerto Rico public municipalities debt and bonds collateralized by second mortgages under the Home Purchase Stimulus Program. Puerto Rico public municipalities debt was valued internally based on benchmark treasury notes and a credit spread derived from comparable Puerto Rico government trades and recent issuances. Puerto Rico public municipalities debt is classified as Level 3. Given that the fair value of muni cipal bonds collateralized by second mortgages was based on internal yield and prepayment speed assumptions, these municipal bonds are classified as Level 3. Agency collateralized mortgage obligation: The fair value of the agency c ollateralized mortgage ob ligation (“CMO”) , which is guaranteed by GNMA, was based on internal yield and prepayment speed assumptions . This agency CMO is classified as Level 3. Other: Other securities include foreign debt and a private non-profit institution security. Given that t he fair value was based on quoted prices for similar instruments, foreign debt is classified as Level 2. Since the fair value of the private non-profit institution security was internally derived using a price/yield methodology, in which the spread was def ined based on the obligor risk rating and the corresponding transfer price, this security is classified as Level 3. Other investment securities Federal Home Loan Bank capital stock: Federal Home Loan Bank (FHLB) capital stock represents an equity interest in the FHLB of New York. It does not have a readily determinable fair value because its ownership is restricted and it lacks a market. Since the excess stock is r epurchased by the F HLB at its par value , the carrying amount of FHLB capital stock approximates fair value . Thus , these stocks are classified as Level 2. Federal Reserve Bank capital stock: Federal Reserve Bank (FRB) capital stock represents an equity inte rest in the FRB of New York. It does not have a readily determinable fair value because its ownership is restricted and it lacks a market. Since the canceled stock is repurchased by the FRB for the amount of the cash subscription paid, the carrying amount of FRB capital stock approximates fair value. Thus, these stocks are classified as Level 2. Trust preferred securities: These securities represent the equity-method investment in the common stock of these trusts. Book value is the same as fair value f or these securities since the fair value of the junior subordinated debentures is the same amount as the fair value of the trust preferred securities issued to the public. The equity-method investment in the common stock of these trusts is classified as Level 2. Other investments: Other investments include private equity method investments and Visa Class B common stock held by the Corporation. Since there are no observable m arket values, private equity method investments are classified as Level 3. The Visa Class B common stock was priced by applying the quoted price of Visa Class A common stock, net of a liquidity adjustment, to the as converted number of Class A common share s since these Class B common shares are restricted and not convertible to Class A common shares until pending litigation is resolved. Thus, these stocks are classified as Level 3 . Loans held-for-sale For loans held-for-sale originated with the intent to sell in the secondary market, its fair value was determined using similar characteristics of loans and secondary market prices assuming the conversion to mortgage-backed securities. Given that the valuation methodology uses internal assumptions based on lo an level data, these loans are classified as Level 3. The fair value of certain other loans held-for-sale is based on bids received from potential buyers ; binding offers ; or external appraisals, net of internal adjustments and estimated costs to sell . Loan s held-for-sale based on binding offers are classified as Level 2 . Loans held-for-sale based on indicative offers and/or external appraisals are classified as Level 3. Loans held-in-portfolio The fair values of the loans held-in-portfolio have been determi ned for groups of loans with similar characteristics. Loans were segregated by type such as commercial, construction, residential mortgage, consumer, and credit cards. Each loan category was further segmented based on loan characteristics, including intere st rate terms, credit quality and vintage. Generally, fair values were estimated based on an exit price by discounting expected cash flows for the segmented groups of loans using a discount rate that considers interest, credit and expected return by market participant under current market conditions. Additionally, prepayment, default and recovery assumptions have been applied in the mortgage loan portfolio valuations. Generally accepted accounting principles do not require a fair valuation of the lease financing portfolio, therefore it is included in the loans total at its carrying amount. Loans held-in-portfolio are classified as Level 3. FDIC loss share asset F air value of the FDIC loss share asset was estimated using projected net losses relate d to the loss sharing agreements, which are expected to be reimbursed by the FDIC. The projected net losses were discounted using the U.S. Government agency curve. The loss share asset is classified as Level 3. Deposits Demand deposits: The fair value of demand deposits, which have no stated maturity, was calculated based on the amount payable on demand as of the respective dates. These demand deposits include non-interest bearing demand deposits, savings, NOW, and money market accounts. Thus, these deposits are classified as Level 2. Time deposits: The fair value of time deposits was calculated based on the discounted value of contractual cash flows using interest rates being offered on time deposits with similar maturit ies. The non-performance risk was determined using internally-developed models that consider, where applicable, the collateral held, amounts insured, the remaining term, and the credit premium of the institution. For certain 5-year certificates of deposit in which customers may withdraw their money anytime with no penalties or charges, the fair value of these certificates of deposit incorporate an early cancellation estimate based on historical experience. Time deposits are classified as Level 2 . Assets sold under agreements to repurchase Securities sold under agreements to repurchase: S ecurities sold under agreements to repurchase with short-term maturities approximate fair value because of the short-term nature of those instruments. Resell and repurchas e agreements with long-term maturities were valued using discounted cash flows based on the three-month LIBOR. I n determining the non-performance credit risk valuation adjustment, the collateralization levels of these long-term securities sold under agreem ents to repurchase were considered. S ecurities sold under agreements to repurchase are classified as Level 2. Other short-term borrowings The carrying amount of other short-term borrowings approximate fair value because of the short-term maturity of those instruments or because they carry interest rates which approximate market. Thus, these other short-term borrowings are classified as Level 2. Notes payable FHLB advances: The fair value of FHLB advances was based on the discounted value of contractual cas h flows over their contractual term . I n determining the non-performance credit risk valuation adjustment, the collateralization levels of these advances were considered. These advances are classified as Level 2. Unsecured senior debt securities: The fair value of publicly-traded unsecured senior debt securities was determined using recent trades of similar transactions. Publicly-traded unsecured senior debt securities are classified as Level 2. Junior subordinated deferrable interest debentures (re lated to trust preferred securities): The fair value of junior subordinated interest debentures was determined using recent trades of similar transactions . Thus, these j unior subordinated deferrable interest debentures are classified as Level 2. Others: Th e other category includes capital lease obligations. Generally accepted accounting principles do not require a fair valuation of capital lease obligations, therefore; it is included at its carrying amount . Capital lease obligations are classified as Level 3 . Commitments to extend credit and letters of credit Commitments to extend credit were valued using the fees currently charged to enter into similar agreements. For those commitments where a future stream of fees is charged, the fair value was estimated by discounting the projected cash flows of fees on commitments. Since the fair value of commitments to extend credit varies depending on the undrawn amount of the credit facility, fees are subject to constant change, and cash flows are dependent on the creditworthiness of borrowers, commitments to extend credit are classified as Level 3. The fair value of letters of credit was based on fees currently charged on similar agreements. Given that the fair value of letters of credit constantly vary due to fees being subject to constant change and whether the fees are received depends on the creditworthiness of the account parties, letters of credit are classified as Level |
Net income (loss) per common sh
Net income (loss) per common share | 3 Months Ended |
Mar. 31, 2016 | |
Earnings Per Share | |
Net Income (Loss) Per Common Share | Note 28 – Net income per common share The following table sets forth the computation of net income per common share (“EPS”), basic and diluted, for the quarter s ended March 31, 2016 and 2015 : Quarters ended March 31, (In thousands, except per share information) 2016 2015 Net income from continuing operations $ 84,999 $ 73,485 Net income from discontinued operations - 1,341 Preferred stock dividends (931) (930) Net income applicable to common stock $ 84,068 $ 73,896 Average common shares outstanding 103,188,815 102,939,928 Average potential dilutive common shares 80,998 196,381 Average common shares outstanding - assuming dilution 103,269,813 103,136,309 Basic EPS from continuing operations $ 0.81 $ 0.71 Basic EPS from discontinued operations $ ― $ 0.01 Total Basic EPS $ 0.81 $ 0.72 Diluted EPS from continuing operations $ 0.81 $ 0.71 Diluted EPS from discontinued operations $ ― $ 0.01 Total Diluted EPS $ 0.81 $ 0.72 For the quarter ended March 31, 2016 the Corporation calculated the impact of potential dilutive common shares under the treasury method, consistent with the method used for the preparation of the financial statements for the year ended December 31, 2015 . For a discussion of the calculation under the treasury stock m ethod, refer to Note 37 of the consolidated financial s tatements included in the 2015 Form 10-K . For the quarters ended March 31, 2016 and 2015 , there were no stock options outst anding . |
Other service fees
Other service fees | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure Text Block | |
Other Service Fees | Note 29 – Other service fees The caption of other services fees in the consolidated statements of operations consists of the following major categories: Quarters ended March 31, (In thousands) 2016 2015 Insurance fees $ 12,850 $ 12,041 Credit card fees 16,858 16,149 Debit card fees 11,287 11,125 Sale and administration of investment products 4,839 5,930 Trust fees 4,235 4,602 Other fees 3,313 3,779 Total other service fees $ 53,382 $ 53,626 |
FDIC loss share (expense) incom
FDIC loss share (expense) income | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure Text Block | |
FDIC Loss Share (Expense) Income | Note 30 – FDIC loss share (expense) income The caption of FDIC loss-share (expense) income in the consolidated statements of operations consists of the following major categories: Quarters ended March 31, (In thousands) 2016 2015 Amortization of loss share indemnification asset $ (4,042) $ (27,316) 80% mirror accounting on credit impairment losses (reversal) [1] (2,093) 8,246 80% mirror accounting on reimbursable expenses 3,950 21,545 80% mirror accounting on recoveries on covered assets, including rental income on OREOs, subject to reimbursement to the FDIC (645) (2,619) Change in true-up payment obligation (443) 4,164 Other 127 119 Total FDIC loss share (expense) income $ (3,146) $ 4,139 [1] Reductions in expected cash flows for ASC 310-30 loans, which may impact the provision for loan losses, may consider reductions in both principal and interest cash flow expectations. The amount covered under the FDIC loss sharing agreements for interest not collected from borrowers is limited under the agreements (approximately 90 days); accordingly, these amounts are not subject fully to the 80% mirror accounting. |
Pension and postretirement bene
Pension and postretirement benefits | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure Text Block | |
Employee Benefits | Note 31 – Pension and postretirement benefits The Corporation has a non-contributory defined benefit pension plan and supplementary pension benefit restoration plans for regular employees of certain of its subsidiaries. The accrual of benefits under the plans is frozen to all participants. The components of net periodic pension cost for the periods presented were as follows: Pension Plan Benefit Restoration Plans Quarters ended March 31, Quarters ended March 31, (In thousands) 2016 2015 2016 2015 Interest cost $ 6,291 $ 7,403 $ 348 $ 407 Expected return on plan assets (9,623) (11,056) (538) (589) Amortization of net loss 4,880 4,465 331 311 Total net periodic pension cost (benefit) $ 1,548 $ 812 $ 141 $ 129 During the quarter ended March 31, 2016 the Corporation made a contribution to the benefit restoration plans of $ 43 thousand. The total contributions expected to be paid during the year 2016 for the pension and benefit restoration plans amount to approximately $ 173 thousand. The Corporation also provides certain postretirement health care benefits for retired employees of certain subsidiaries. The table that follows presents the c omponents of net periodic postretirement benefit cost. Quarters ended March 31, (In thousands) 2016 2015 Service cost $ 289 $ 368 Interest cost 1,505 1,589 Amortization of prior service cost (950) (950) Amortization of net loss 275 249 Total postretirement cost $ 1,119 $ 1,256 Contributions made to the postretirement benefit plan for the quarter ended March 31, 2016 amounted to approximately $ 1.6 million. The total contributions expected to be paid during the year 2016 for the postretirement benefit plan amount to approximately $ 6.4 million. |
Stock-based compensation
Stock-based compensation | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure Text Block | |
Stock-based Compensation | Note 32 - Stock-based compensation The Corporation maintained a Stock Option Plan (the “Stock Option Plan”), which permitted the granting of incentive awards in the form of qualified stock options, incentive stock options, or non-statutory stock options of the Corporation. In April 2004, the Corporation’s shareholders adopted the Popular, Inc. 2004 Omnibus Incentive Plan (the “Incentive Plan”), which replaced and superseded the Stock Option Plan. The adoption of the Incentive Plan did not alter th e original terms of the grants made under the Stock Option Plan prior to the adoption of the Incentive Plan. Stock Option Plan Employees and directors of the Corporation or any of its subsidiaries were eligible to participate in the Stock Option Plan. The Board of Directors or the Compensation Committee of the Board had the absolute discretion to determine the individuals that were eligible to participate in the Stock Option Plan. This plan provided for the issuance of Popular, Inc.’s common stock at a pric e equal to its fair market value at the grant date, subject to certain plan provisions. The shares are to be made available from authorized but unissued shares of common stock or treasury stock. The Corporation’s policy has been to use authorized but uniss ued shares of common stock to cover each grant. The maximum option term is ten years from the date of grant. Unless an option agreement provides otherwise, all options granted are 20% exercisable after the first year and an additional 20% is exercisable af ter each subsequent year, subject to an acceleration clause at termination of employment due to retirement . As of March 31, 2016 there were no stock options outstanding. During the quarter ended March 31, 2015 , all stock options outstanding which amounted to 44,797 with a weighted average exercise price of $ 272 expired. Incentive Plan The Incentive Plan permits the granting of incentive awards in the form of Annual Incentive Awards, Long-term Performance Unit Awards, Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Units or Performance Shares. Participants in the Incentive Plan are designated by the Compensation Committee of the Board of Directors (or its delegate as determined by the Board). Employees and directors of the Corporation and/or any of its subsidiaries are eligible to participate in the Incentive Plan. Under the Incentive Plan, the Corporation has issued restricted shares, which become vested based on the employees’ continued service with Popular. Unless otherwise stated in an agreement, the compensation cost associated with the sha res of restricted stock is determined based on a two-prong vesting schedule. The first part is vested ratably over five years commencing at the date of grant and the second part is vested at termination of employment after attainment of 55 years of age and 10 years of service . The five-year vesting part is accelerated at termination of employment after attaining 55 years of age and 10 years of service. The vesting schedule for restricted shares granted on or after 2014 was modified as follows, the first part ratabl y over four years commencing at the date of the grant and the second part is vested at termination of employment after attainment of the earlier of 55 years of age and 10 years of service or 60 years of age and 5 years of service. The four year vesting pa rt is accelerated at termination of employment after attaining the earlier of 55 years of age and 10 years of service or 60 years of age and 5 years of service. The restricted shares granted consistent with the requirements of the TARP Interim Final Rule v est in two years from grant date . The following table summarizes the restricted stock activity under the Incentive Plan for members of management. (Not in thousands) Shares Weighted-Average Grant Date Fair Value Non-vested at December 31, 2014 628,009 $ 27.13 Granted 323,814 33.37 Vested (430,646) 30.45 Forfeited (25,446) 28.65 Non-vested at December 31, 2015 495,731 $ 28.25 Granted 226,098 24.05 Quantity adjusted by TSR factor (8,914) 28.47 Vested (256,501) 25.90 Non-vested at March 31, 2016 456,414 $ 27.12 During the quarter ended March 31, 2016 , 161,500 shares of restricted stock were awarded to management under the Incentive Plan. During the quarter ended March 31, 2015 , no shares of restricted stock were awarded to management. No shares were awarded consistent with the requirements of the TARP Interim Final Rule for the quarters ended March 31, 2016 and 2015 . Beginning in 2015, the Corporation authorized the issuance of performance shares, in addition to restricted shares, under t he Incentive Plan. The performance share awards consist of the opportunity to receive shares of Popular, Inc.’s common stock provided that the Corporation achieves certain goals during a three-year performance cycle. The goals will be based on two metrics weighted equally: the Relative Total Shareholder Return (“TSR”) and the Absolute Earnings per Share (“EPS”) goals. The TSR metric is considered to be a market condition under ASC 718. For equity settled awards based on a market condition, the fair value is determined as of the grant date and is not subsequently revised based on actual performance. The EPS performance metric is considered to be a performance condition under ASC 718. The fair value is determined based on the probability of achieving the EPS goal as of each reporting period. The TSR and EPS metrics are equally weighted and work independently. The number of shares that will ultimately vest ranges from 50% to a 1 50% of target based on both market (TSR) and performance (EPS) conditions. T he performance shares vest at the end of the three-year performance cycle. The vesting is accelerated at termination of employment after attaining the earlier of 55 years of age and 10 years of service or 60 years of age and 5 years of service. For the qua rter ended March 31, 2016 , 64,598 performance shares were granted under this plan. During the quarter ended March 31, 2016 , the Corporation recognized $ 3.7 million of restricted stock expense related to management incentive awards, with a tax benefit of $ 0.5 million ( March 31, 2015 - $ 2.0 million, with a tax benefit of $ 0.3 million). For the quarter ended March 31, 2016 , the fair market value of the restricted stock vested was $ 3.6 million at grant date and $ 3.3 million at vesting date. This triggers a shortfall, of $ 0.1 million of which $ 31 thousand was recorded against the windfall pool in a dditional paid in capital. No additional shortfall was recorded for the remaining $ 79 thousand due to the valuation allowance of the deferred tax asset. For the quarter ended March 31, 2016 , the Corporation recognized $ 1.0 million of performance shares expense, with a tax benefit of $ 0.1 million. The total unrecognized compensation cost related to non-vested restricted stock awards and performance shares to members of management at March 31, 2016 was $ 8.2 million and is expected to be recognized over a weighted-average period of 2.3 years. The following table summarizes the restricted stock activity under the Incentive Plan for members of the Board of Directors: (Not in thousands) Restricted Stock Weighted-Average Grant Date Fair Value Non-vested at December 31, 2014 - $ - Granted 22,119 32.29 Vested (22,119) 32.29 Forfeited - - Non-vested at December 31, 2015 - $ - Granted 2,338 23.95 Vested (2,338) 23.95 Forfeited - - Non-vested at March 31, 2016 - $ - During the quarter ended March 31, 2016 , the Corporation granted 2,338 shares of restricted stock to members of the Board of Direc tors of Popular, Inc. , which became vested at grant date ( March 31, 2015 – 2,643 ). During this period, the Corporation recognized $ 0.1 million of restricted stock expense related to these restricted stock grants, with a tax benefit of $ 15 thousand ( March 31, 2015 - $ 0.1 million, with a tax benefit of $ 16 thousand ). The fair value at vesting date of the restricted stock vested during the quarter ended March 31, 2016 for directors was $ 56 thousand. |
Income taxes
Income taxes | 3 Months Ended |
Mar. 31, 2016 | |
Income Tax Disclosure | |
Income Taxes | Note 33 – Income taxes The reason for the difference between the income tax expense applicable to income before provision for income taxes and the amount computed by applying the statutory tax rate in Puerto Rico, were as follows: Quarters ended March 31, 2016 March 31, 2015 (In thousands) Amount % of pre-tax income Amount % of pre-tax income Computed income tax expense at statutory rates $ 45,733 39 % $ 41,361 39 % Net benefit of tax exempt interest income (15,584) (13) (15,027) (14) Deferred tax asset valuation allowance 5,273 5 5,639 5 Difference in tax rates due to multiple jurisdictions (864) (1) (275) - Effect of income subject to preferential tax rate (3,414) (3) (2,471) (2) State and local taxes 2,927 3 1,331 1 Others (1,806) (2) 2,010 2 Income tax expense $ 32,265 28 % $ 32,568 31 % The following table presents a breakdown of the significant components of the Corporation’s deferred tax assets and liabilities. (In thousands) March 31, 2016 December 31, 2015 Deferred tax assets: Tax credits available for carryforward $ 13,651 $ 13,651 Net operating loss and other carryforward available 1,264,077 1,262,197 Postretirement and pension benefits 114,866 116,036 Deferred loan origination fees 6,063 6,420 Allowance for loan losses 658,220 670,592 Deferred gains 5,688 5,966 Accelerated depreciation 8,209 8,335 Intercompany deferred gains 2,492 2,743 Difference in outside basis from pass-through entities 11,889 12,684 Other temporary differences 30,348 29,208 Total gross deferred tax assets 2,115,503 2,127,832 Deferred tax liabilities: FDIC-assisted transaction 92,156 90,778 Indefinite-lived intangibles 66,175 63,573 Unrealized net gain on trading and available-for-sale securities 37,662 22,281 Other temporary differences 7,232 6,670 Total gross deferred tax liabilities 203,225 183,302 Valuation allowance 637,911 642,727 Net deferred tax asset $ 1,274,367 $ 1,301,803 The net deferred tax asset shown in the table above at March 31, 2016 is reflected in the consolidated statements of financial condition as $ 1.3 billion in net deferred tax assets in the “Other assets” caption (December 31, 2015 - $ 1.3 billion) and $ 649 thousand in deferred tax liabilities in the “Other liabilities” caption (December 31, 2015 - $ 649 thousand), reflecting the aggregate deferred tax assets or liabilities of individual tax-paying subsidiaries of the Corpo ration. A deferred tax asset should be reduced by a valuation allowance if based on the weight of all available evidence, it is more likely than not (a likelihood of more than 50%) that some portion or the entire deferred tax asset will not be realized. T he valuation allowance should be sufficient to reduce the deferred tax asset to the amount that is more likely than not to be realized. The determination of whether a deferred tax asset is realizable is based on weighting all available evidence, including both positive and negative evidence. The realization of deferred tax assets, including carryforwards and deductible temporary differences, depends upon the existence of sufficient taxable income of the same character during the carryback or carryforward pe riod. The analysis considers all sources of taxable income available to realize the deferred tax asset, including the future reversal of existing taxable temporary differences, future taxable income exclusive of reversing temporary differences and carryfor wards , taxable income in prior carryback years and tax-planning strategies. During the year ended December 31, 2015, after weighting all positive and negative evidence, the Corporation concluded that it is more likely than not that a portion of the total deferred tax asset from the U.S. operations, amounting to $1.2 billion and comprised mainly of net operating lo sses, will be realized. The Corporation based this determination on its estimated earnings for the remaining carryforward period of eighteen years beginning with the 2016 fiscal year, available to utilize the deferred tax asset, to reduce its income tax o bligations. The recent historical level of book income adjusted by permanent differences, together with the estimated earnings after the reorganization of the U.S. operations and additional estimated earnings from the Doral Bank Transaction were objective positive evidence considered by the Corporation. As of March 31, 2016 the U.S. operations are not in a three year cumulative loss position, taking into account taxable income exclusive of reversing temporary differences. All of these factors lead managem ent to conclude that it is more likely than not that a portion of the deferred tax asset from its U.S. operations will be realized. Management will continue to evaluate the realization of the deferred tax asset each quarter and adjust as deemed necessary. At March 31, 2016 a valuation allowance is recorded on the deferred tax asset of the U.S. operation in the amount of $602 million. At March 31, 2016, the Corporation’s net deferred tax assets related to its Puerto Rico operations amounted to $730 million . The Corporation’s Puerto Rico Banking operation is not in a cumulative three year loss position, taking into account taxable income exclusive of reversing temporary differences, and has sustained profitability for the three year period ended March 31, 2 016. This is considered a strong piece of objectively verifiable positive evidence that outweights any negative evidence considered by management in the evaluation of the realization of the deferred tax asset. Based on this evidence and management’s estim ate of future taxable income, the Corporation has concluded that it is more likely than not that such net deferred tax asset of the Puerto Rico Banking operations will be realized. The Holding Company operation is not in a cumulative loss taking into accou nt taxable income exclusive of reversing temporary differences, for the three year period ended March 31, 2016. However, it has sustained losses for year ended December 31, 2015 and the period ended March 31, 2016. Management expect these losses will be a trend in early future years. The losses in recent periods together with the expected losses in future years is considered by management a strong negative evidence that will suggest that income in future years will be insufficient to support the realizat ion of all deferred tax asset. After weighting of all positive and negative evidence management concluded, as of the reporting date, that it is more likely than not that the Holding Company will not be able to realize any portion of the deferred tax asse ts, considering the criteria of ASC Topic 740. Accordingly, a full valuation allowance is recorded on the deferred tax asset at the Holding Company, which amounted to $36 million as of March 31, 2016. The reconciliation of unrecognized tax benefits was as follows: (In millions) 2016 2015 Balance at January 1 $ 9.0 $ 8.0 Additions for tax positions -January through March 0.4 0.3 Reduction as a result of settlements - January through March - (0.5) Balance at March 31 $ 9.4 $ 7.8 At March 31, 2016 , the total amount of interest recognized in the statement of financial condition approximated $3.7 million (December 31, 2015 - $3.2 million). The total interest expense recognized at March 31, 2016 was $485 thousand (December 31, 2015 - $57 thousand). Management determined that at March 31, 2016 and December 31, 2015 there was no need to accrue for the payment of penalties. The Corporation’s policy is to report interest related to unrecognized tax benefits i n income tax expense, whiles the penalties, if any, are reported in other operating expenses in the consolidated statements of operations. After consideration of the effect on U.S. federal tax of unrecognized U.S. state tax benefits, the total amount of u nrecognized tax benefits, including U.S. and Puerto Rico, that if recognized, would affect the Corporation’s effective tax rate, was approximately $ 12.0 million at March 31, 2016 ( December 31, 2015 - $ 11.2 million). The amount of unrecognized tax benefits may increase or decrease in the future for various reasons including adding amounts for current tax year positions, expiration of open income tax returns due to the statutes of limitation, changes in management’s judgment about the level of uncertainty, status of examinations, litigation and legislative activity and the addition or elimination of uncertain tax positions. The Corporation and its subsidiaries file income tax returns in Puerto Rico, the U.S. federal jurisdiction, v arious U.S. states and political subdivisions, and foreign jurisdictions. At March 31, 2016, the following years remain subject to examination in the U.S. Federal jurisdiction: 2012 and thereafter; and in the Puerto Rico jurisdiction, 2010 and thereafter. The Corporation anticipates a reduction in the total amount of unrecognized tax benefits within the next 12 months, which could amount to approximately $ 3.3 million. |
Supplemental disclosure on the
Supplemental disclosure on the consolidated statements of cash flows | 3 Months Ended |
Mar. 31, 2016 | |
Supplemental Cash Flow Information | |
Supplemental Disclosure on the Consolidated Statements of Cash Flows | Note 34 – Supplemental disclosure on the consolidated statements of cash flows Additional disclosures on cash flow information and non-cash activities for the quarters ended March 31, 2016 and March 31, 2015 are listed in the following table: (In thousands) March 31, 2016 March 31, 2015 Non-cash activities: Loans transferred to other real estate $ 26,919 $ 30,802 Loans transferred to other property 7,693 8,979 Total loans transferred to foreclosed assets 34,612 39,781 Transfers from loans held-in-portfolio to loans held-for-sale - 10,839 Transfers from loans held-for-sale to loans held-in-portfolio 3,821 4,858 Loans securitized into investment securities [1] 170,248 203,414 Trades receivable from brokers and counterparties 87,590 112,287 Trades payable to brokers and counterparties 32,774 19,097 Recognition of mortgage servicing rights on securitizations or asset transfers 2,136 2,859 [1] Includes loans securitized into trading securities and subsequently sold before quarter end. As previously disclosed in Note 5, Business Combination, o n February 27, 2015, the Corporation’s Puerto Rico banking subsidiary, BPPR, in an alliance with co-bidders, including the Corporation’s U.S. mainland banking subsidiary, BPNA , acquired certain assets and all deposits (other than certain brokered deposits) of Doral Bank from the F DIC as receiver. As part of th i s transaction, BP PR received during the quarter ended March 31, 2015 net cash proceeds of approximately $ 711 million for considerati on of the assets and liabilities acquired. |
Segment Reporting
Segment Reporting | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure Text Block | |
Segment Reporting | Note 35 – Segment reporting The Corporation’s corporate structure consists of two reportable segments – Banco Popular de Puerto Rico and Banco Popular North America. These reportable segments pertain only to the continuing operations of Popular, Inc. As previously indicated in Note 4 to the consolidated financial statements, the regional operations in California, Illinois and Central Florida were classified as discontinued operations and sold during 2014. Management determined the reportable segments based on the internal reporting used to evaluate performance and to assess where to allocate resources. The segments were determined based on the organizational structure, which focuses primarily on the markets the segments serve, as well as on the products and services offered by the segments. Banco Pop ular de Puerto Rico: Given that Banco Popular de Puerto Rico constitutes a significant portion of the Corporation’s results of operations and total assets at March 31, 2016 , additional disclosures are provided for the business areas included in this rep ortable segment, as described below: Commercial banking represents the Corporation’s banking operations conducted at BPPR, which are targeted mainly to corporate, small and middle size businesses. It includes aspects of the lending and depository businesses, as well as other finance and advisory services. BPPR allocates funds across business areas based on duration matched transfer pricing at market r ates. This area also incorporates income related with the investment of excess funds, as well as a proportionate share of the investment function of BPPR. Consumer and retail banking represents the branch banking operations of BPPR which focus on retail cl ients. It includes the consumer lending business operations of BPPR, as well as the lending operations of Popular Auto and Popular Mortgage. Popular Auto focuses on auto and lease financing, while Popular Mortgage focuses principally on residential mortgag e loan originations. The consumer and retail banking area also incorporates income related with the investment of excess funds from the branch network, as well as a proportionate share of the investment function of BPPR. Other financial services include t he trust and asset management service units of BPPR, the brokerage and investment banking operations of Popular Securities, and the insurance agency and reinsurance businesses of Popular Insurance, Popular Insurance V.I., Popular Risk Services, and Popular Life Re. Most of the services that are provided by these subsidiaries generate profits based on fee income. Banco Popular North America : Banco Popular North America’s reportable segment consists of the banking operations of BPNA , E-LOAN, Popular Equipmen t Finance, Inc. and Popular Insurance Agency, U.S.A. BPNA operates through a retail branch network in the U.S. mainland under the name of Popular Community Bank , while E-LOAN supports BPNA’s deposit gathering through its online platform. All direct lending activities at E-LOAN were ceased during 2008. During the third quarter of 2015, BPNA and E-LOAN completed an asset purchase and sale transaction in which E-LOAN sold to BPNA all of its outstanding loan portfolio, including residential mortgage loans and h ome equity lines of credit, which had a carrying value of approximately $213 million. Prior to this transaction, the Corporation provided additional disclosures for the BPNA reportable segment related to E-LOAN. After the close of the above mentioned asset purchase and sale transaction, additional disclosures with respect to E-LOAN are no longer considered relevant to the financial statements and accordingly are not presented . Popular Equipment Finance, Inc. also holds a running-off loan portfolio as this s ubsidiary ceased originating loans during 2009. Popular Insurance Agency , U.S.A. offers investment and insurance services across the BPNA branch network. The Corporate group consists primarily of the holding companies: Popular , Inc., Popular North America , Popular International Bank and certain of the Corporation’s investments accounted for under the equity method, including EVERTEC and Centro Financiero BHD, S.A. The Corporate group also includes the expenses of certain corporate areas that are identified as critical to the organization: Finance, Risk Management and Legal. The accounting policies of the individual operating segments are the same as those of the Corporation. Transactions between reportable segments are primarily conducted at market rates, resulting in profits that are eliminated for reporting consolidated results of operations. The tables that follow present the results of operations and total assets by reportable segments: 2016 For the quarter ended March 31, 2016 Banco Popular Banco Popular Intersegment (In thousands) de Puerto Rico North America Eliminations Net interest income $ 305,350 $ 62,257 $ - Provision for loan losses 40,800 4,069 - Non-interest income 98,566 4,950 - Amortization of intangibles 2,948 166 - Depreciation expense 10,197 1,333 - Other operating expenses 224,669 41,331 - Income tax expense 31,877 8,456 - Net income $ 93,425 $ 11,852 $ - Segment assets $ 28,108,702 $ 7,880,357 $ (52,740) For the quarter ended March 31, 2016 Reportable (In thousands) Segments Corporate Eliminations Total Popular, Inc. Net interest income (expense) $ 367,607 $ (15,195) $ - $ 352,412 Provision (reversal of provision) for loan losses 44,869 (34) - 44,835 Non-interest income 103,516 8,177 (63) 111,630 Amortization of intangibles 3,114 - - 3,114 Depreciation expense 11,530 177 - 11,707 Other operating expenses 266,000 21,731 (609) 287,122 Income tax expense (benefit) 40,333 (8,281) 213 32,265 Net income (loss) $ 105,277 $ (20,611) $ 333 $ 84,999 Segment assets $ 35,936,319 $ 4,938,750 $ (4,728,060) $ 36,147,009 2015 For the quarter ended March 31, 2015 Banco Popular Banco Popular Intersegment (In thousands) de Puerto Rico North America Eliminations Net interest income $ 306,611 $ 52,101 $ - Provision (reversal of provision) for loan losses 42,237 (2,202) - Non-interest income 103,529 6,167 - Amortization of intangibles 1,998 106 - Depreciation expense 10,108 1,617 - Other operating expenses 227,576 54,484 - Income tax expense 37,448 937 - Net income $ 90,773 $ 3,326 $ - Segment assets $ 28,803,521 $ 6,717,758 $ (128,481) For the quarter ended March 31, 2015 Reportable (In thousands) Segments Corporate Eliminations Total Popular, Inc. Net interest income (expense) $ 358,712 $ (15,517) $ - $ 343,195 Provision for loan losses 40,035 - - 40,035 Non-interest income 109,696 5,643 (104) 115,235 Amortization of intangibles 2,104 - - 2,104 Depreciation expense 11,725 194 - 11,919 Other operating expenses 282,061 16,990 (732) 298,319 Income tax expense (benefit) 38,385 (6,062) 245 32,568 Net income (loss) $ 94,098 $ (20,996) $ 383 $ 73,485 Segment assets $ 35,392,798 $ 4,896,192 $ (4,673,543) $ 35,615,447 Additional disclosures with respect to the Banco Popular de Puerto Rico reportable segment are as follows: 2016 For the quarter ended March 31, 2016 Banco Popular de Puerto Rico Consumer Other Total Banco Commercial and Retail Financial Popular de (In thousands) Banking Banking Services Eliminations Puerto Rico Net interest income $ 114,903 $ 187,195 $ 1,615 $ 1,637 $ 305,350 Provision for loan losses 14,908 25,892 - - 40,800 Non-interest income 21,731 55,608 21,311 (84) 98,566 Amortization of intangibles 22 1,836 1,090 - 2,948 Depreciation expense 4,275 5,691 231 - 10,197 Other operating expenses 57,232 150,212 17,309 (84) 224,669 Income tax expense 18,169 12,379 1,329 - 31,877 Net income $ 42,028 $ 46,793 $ 2,967 $ 1,637 $ 93,425 Segment assets $ 11,273,486 $ 17,090,030 $ 342,867 $ (597,681) $ 28,108,702 2015 For the quarter ended March 31, 2015 Banco Popular de Puerto Rico Consumer Other Total Banco Commercial and Retail Financial Popular de (In thousands) Banking Banking Services Eliminations Puerto Rico Net interest income $ 118,475 $ 186,252 $ 1,880 $ 4 $ 306,611 (Reversal of provision) provision for loan losses (3,556) 45,793 - - 42,237 Non-interest income 27,150 56,004 20,470 (95) 103,529 Amortization of intangibles 29 1,772 197 - 1,998 Depreciation expense 4,320 5,512 276 - 10,108 Other operating expenses 65,856 145,068 16,747 (95) 227,576 Income tax expense 26,053 9,778 1,617 - 37,448 Net income $ 52,923 $ 34,333 $ 3,513 $ 4 $ 90,773 Segment assets $ 10,056,505 $ 20,053,145 $ 486,998 $ (1,793,127) $ 28,803,521 Geographic Information Quarter ended (In thousands) March 31, 2016 March 31, 2015 Revenues: [1] Puerto Rico $ 380,036 $ 385,054 United States 64,640 56,710 Other 19,366 16,666 Total consolidated revenues $ 464,042 $ 458,430 [1] Total revenues include net interest income (expense) , service charges on deposit accounts, other service fees, mortgage banking activities, net gain (loss) and valuation adjustments on investment securities, trading account (loss) profit, net (loss) gain on sale of loans and valuation adjustments on loans held-for-sale, adjustments to indemnity reserves on loans sold, FDIC loss share ( expense ) income and other operating income . Selected Balance Sheet Information: (In thousands) March 31, 2016 December 31, 2015 Puerto Rico Total assets $ 27,150,601 $ 26,764,184 Loans 17,370,172 17,477,070 Deposits 21,015,800 20,893,232 United States Total assets $ 8,063,912 $ 7,859,217 Loans 5,121,648 4,873,504 Deposits 5,445,760 5,288,886 Other Total assets $ 932,496 $ 1,138,332 Loans 766,362 778,656 Deposits [1] 1,065,033 1,027,605 [1] Represents deposits from BPPR operations located in the U.S. and British Virgin Islands. |
Condensed consolidating financi
Condensed consolidating financial information of guarantor and issuers of registered guaranteed securities | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure Text Block | |
Condensed Consolidating Financial Information of Guarantor and Issuers of Registeres Guranteed Securities | Note 36 – Condensed consolidating financial information of guarantor and issuers of registered guaranteed securities The following condensed consolidating financial information presents the financial position of Popular, Inc. Holding Company (“PIHC”) (parent only), Popular North America, Inc. (“PNA”) and all other subsidiaries of the Corporation at March 31, 2016 and 2015 , and the results of their operations and cash flows for periods ended March 31, 2016 and December 31, 2015 . PNA is an operating, wholly-owned subsidiary of PIHC and is the holding company of its wholly-owned subsidiaries: Equity One, In c. and Banco Popular North America (“BPNA”), including BPNA’s wholly-owned subsidiaries Popular Equipment Finance, Inc., Popular Insurance Agency , U.S.A. , and E-LOAN, Inc. PIHC fully and unconditionally guarantees all registered debt securities issued by PNA. Condensed Consolidating Statement of Financial Condition (Unaudited) At March 31, 2016 All other Popular Inc. PNA subsidiaries and Elimination Popular, Inc. (In thousands) Holding Co. Holding Co. eliminations entries Consolidated Assets: Cash and due from banks $ 21,133 $ 598 $ 409,315 $ (21,423) $ 409,623 Money market investments 255,251 18,519 1,917,209 (273,519) 1,917,460 Trading account securities, at fair value 2,121 - 69,163 - 71,284 Investment securities available-for-sale, at fair value 227 - 6,649,603 - 6,649,830 Investment securities held-to-maturity, at amortized cost - - 99,216 - 99,216 Other investment securities, at lower of cost or realizable value 9,850 4,492 149,682 - 164,024 Investment in subsidiaries 5,679,385 1,819,384 - (7,498,769) - Loans held-for-sale, at lower of cost or fair value - - 125,315 - 125,315 Loans held-in-portfolio: Loans not covered under loss-sharing agreements with the FDIC 1,167 - 22,617,321 - 22,618,488 Loans covered under loss-sharing agreements with the FDIC - - 625,130 - 625,130 Less - Unearned income - - 110,751 - 110,751 Allowance for loan losses 2 - 538,470 - 538,472 Total loans held-in-portfolio, net 1,165 - 22,593,230 - 22,594,395 FDIC loss-share asset - - 219,448 - 219,448 Premises and equipment, net 2,999 - 524,494 - 527,493 Other real estate not covered under loss- sharing agreements with the FDIC 566 - 165,394 - 165,960 Other real estate covered under loss- sharing agreements with the FDIC - - 36,397 - 36,397 Accrued income receivable 73 36 120,229 (30) 120,308 Mortgage servicing assets, at fair value - - 205,051 - 205,051 Other assets 57,670 23,453 2,091,857 (16,950) 2,156,030 Goodwill - - 631,095 - 631,095 Other intangible assets 553 - 53,527 - 54,080 Total assets $ 6,030,993 $ 1,866,482 $ 36,060,225 $ (7,810,691) $ 36,147,009 Liabilities and Stockholders' Equity Liabilities: Deposits: Non-interest bearing $ - $ - $ 6,405,516 $ (21,423) $ 6,384,093 Interest bearing - - 21,416,019 (273,519) 21,142,500 Total deposits - - 27,821,535 (294,942) 27,526,593 Federal funds purchased and assets sold under agreements to repurchase - - 760,154 - 760,154 Other short-term borrowings - - 6,370 - 6,370 Notes payable 734,036 148,492 700,940 - 1,583,468 Other liabilities 46,657 3,591 985,598 (17,537) 1,018,309 Liabilities from discontinued operations - - 1,815 - 1,815 Total liabilities 780,693 152,083 30,276,412 (312,479) 30,896,709 Stockholders' equity: Preferred stock 50,160 - - - 50,160 Common stock 1,039 2 56,307 (56,309) 1,039 Surplus 4,222,706 4,111,208 5,712,604 (9,815,285) 4,231,233 Retained earnings (accumulated deficit) 1,165,003 (2,409,905) 195,181 2,206,197 1,156,476 Treasury stock, at cost (6,858) - - - (6,858) Accumulated other comprehensive loss, net of tax (181,750) 13,094 (180,279) 167,185 (181,750) Total stockholders' equity 5,250,300 1,714,399 5,783,813 (7,498,212) 5,250,300 Total liabilities and stockholders' equity $ 6,030,993 $ 1,866,482 $ 36,060,225 $ (7,810,691) $ 36,147,009 Condensed Consolidating Statement of Financial Condition (Unaudited) At December 31, 2015 All other Popular, Inc. PNA subsidiaries and Elimination Popular, Inc. (In thousands) Holding Co. Holding Co. eliminations entries Consolidated Assets: Cash and due from banks $ 24,298 $ 600 $ 363,620 $ (24,844) $ 363,674 Money market investments 262,204 23,931 2,179,887 (285,930) 2,180,092 Trading account securities, at fair value 2,020 - 69,639 - 71,659 Investment securities available-for-sale, at fair value 216 - 6,062,776 - 6,062,992 Investment securities held-to-maturity, at amortized cost - - 100,903 - 100,903 Other investment securities, at lower of cost or realizable value 9,850 4,492 157,906 - 172,248 Investment in subsidiaries 5,539,325 1,789,512 - (7,328,837) - Loans held-for-sale, at lower of cost or fair value - - 137,000 - 137,000 Loans held-in-portfolio: Loans not covered under loss-sharing agreements with the FDIC 1,176 - 22,452,637 - 22,453,813 Loans covered under loss-sharing agreements with the FDIC - - 646,115 - 646,115 Less - Unearned income - - 107,698 - 107,698 Allowance for loan losses 3 - 537,108 - 537,111 Total loans held-in-portfolio, net 1,173 - 22,453,946 - 22,455,119 FDIC loss-share asset - - 310,221 - 310,221 Premises and equipment, net 2,823 - 499,788 - 502,611 Other real estate not covered under loss- sharing agreements with the FDIC 532 - 154,699 - 155,231 Other real estate covered under loss- sharing agreements with the FDIC - - 36,685 - 36,685 Accrued income receivable 85 115 124,070 (36) 124,234 Mortgage servicing assets, at fair value - - 211,405 - 211,405 Other assets 54,908 23,596 2,132,616 (17,958) 2,193,162 Goodwill - - 626,388 - 626,388 Other intangible assets 554 - 57,555 - 58,109 Total assets $ 5,897,988 $ 1,842,246 $ 35,679,104 $ (7,657,605) $ 35,761,733 Liabilities and Stockholders' Equity Liabilities: Deposits: Non-interest bearing $ - $ - $ 6,426,359 $ (24,844) $ 6,401,515 Interest bearing - - 21,094,138 (285,930) 20,808,208 Total deposits - - 27,520,497 (310,774) 27,209,723 Federal funds purchased and assets sold under agreements to repurchase - - 762,145 - 762,145 Other short-term borrowings - - 1,200 - 1,200 Notes payable 733,516 148,483 780,509 - 1,662,508 Other liabilities 59,148 6,659 971,429 (18,218) 1,019,018 Liabilities from discontinued operations - - 1,815 - 1,815 Total liabilities 792,664 155,142 30,037,595 (328,992) 30,656,409 Stockholders' equity: Preferred stock 50,160 - - - 50,160 Common stock 1,038 2 56,307 (56,309) 1,038 Surplus 4,220,629 4,111,208 5,712,635 (9,815,316) 4,229,156 Retained earnings (accumulated deficit) 1,096,484 (2,416,251) 128,459 2,279,265 1,087,957 Treasury stock, at cost (6,101) - - - (6,101) Accumulated other comprehensive loss, net of tax (256,886) (7,855) (255,892) 263,747 (256,886) Total stockholders' equity 5,105,324 1,687,104 5,641,509 (7,328,613) 5,105,324 Total liabilities and stockholders' equity $ 5,897,988 $ 1,842,246 $ 35,679,104 $ (7,657,605) $ 35,761,733 Condensed Consolidating Statement of Operations (Unaudited) Quarter ended March 31, 2016 All other Popular, Inc. PNA subsidiaries and Elimination Popular, Inc. (In thousands) Holding Co. Holding Co. eliminations entries Consolidated Interest and dividend income: Dividend income from subsidiaries $ 29,700 $ - $ - $ (29,700) $ - Loans 19 - 363,178 - 363,197 Money market investments 255 21 2,863 (276) 2,863 Investment securities 238 80 35,953 - 36,271 Trading account securities - - 1,689 - 1,689 Total interest and dividend income 30,212 101 403,683 (29,976) 404,020 Interest expense: Deposits - - 30,150 (276) 29,874 Short-term borrowings - - 1,861 - 1,861 Long-term debt 13,117 2,693 4,063 - 19,873 Total interest expense 13,117 2,693 36,074 (276) 51,608 Net interest income (expense) 17,095 (2,592) 367,609 (29,700) 352,412 Provision (reversal) for loan losses- non-covered loans (34) - 47,974 - 47,940 Provision (reversal) for loan losses- covered loans - - (3,105) - (3,105) Net interest income (expense) after provision for loan losses 17,129 (2,592) 322,740 (29,700) 307,577 Service charges on deposit accounts - - 39,862 - 39,862 Other service fees - - 53,439 (57) 53,382 Mortgage banking activities - - 10,551 - 10,551 Trading account profit (loss) 24 - (186) - (162) Net loss on sale of loans, including valuation adjustments on loans held-for-sale - - (304) - (304) Adjustments (expense) to indemnity reserves on loans sold - - (4,098) - (4,098) FDIC loss-share expense - - (3,146) - (3,146) Other operating income 3,256 (1,303) 13,599 (7) 15,545 Total non-interest income 3,280 (1,303) 109,717 (64) 111,630 Operating expenses: Personnel costs 15,421 - 111,670 - 127,091 Net occupancy expenses 916 - 19,514 - 20,430 Equipment expenses 445 - 14,103 - 14,548 Other taxes 47 - 10,148 - 10,195 Professional fees 2,881 30 72,605 (57) 75,459 Communications 137 - 6,183 - 6,320 Business promotion 465 - 10,645 - 11,110 FDIC deposit insurance - - 7,370 - 7,370 Other real estate owned (OREO) expenses - - 9,141 - 9,141 Other operating expenses (20,428) 39 38,106 (552) 17,165 Amortization of intangibles - - 3,114 - 3,114 Total operating expenses (116) 69 302,599 (609) 301,943 Income (loss) before income tax and equity in earnings of subsidiaries 20,525 (3,964) 129,858 (29,155) 117,264 Income tax expense (benefit) 3 (1,387) 33,436 213 32,265 Income (loss) before equity in earnings of subsidiaries 20,522 (2,577) 96,422 (29,368) 84,999 Equity in undistributed earnings of subsidiaries 64,477 8,923 - (73,400) - Net Income $ 84,999 $ 6,346 $ 96,422 $ (102,768) $ 84,999 Comprehensive income, net of tax $ 160,135 $ 27,295 $ 172,035 $ (199,330) $ 160,135 Condensed Consolidating Statement of Operations (Unaudited) Quarter ended March 31, 2015 All other Popular, Inc. PNA subsidiaries and Elimination Popular, Inc. (In thousands) Holding Co. Holding Co. eliminations entries Consolidated Interest income: Dividend income from subsidiaries $ 1,500 $ - $ - $ (1,500) $ - Loans 140 - 355,613 (122) 355,631 Money market investments 2 2 1,444 (2) 1,446 Investment securities 143 81 30,077 - 30,301 Trading account securities - - 2,696 - 2,696 Total interest income 1,785 83 389,830 (1,624) 390,074 Interest expense: Deposits - - 25,866 (2) 25,864 Short-term borrowings - 101 1,755 (122) 1,734 Long-term debt 13,118 2,695 3,468 - 19,281 Total interest expense 13,118 2,796 31,089 (124) 46,879 Net interest (expense) income (11,333) (2,713) 358,741 (1,500) 343,195 Provision for loan losses- non-covered loans - - 29,711 - 29,711 Provision for loan losses- covered loans - - 10,324 - 10,324 Net interest (expense) income after provision for loan losses (11,333) (2,713) 318,706 (1,500) 303,160 Service charges on deposit accounts - - 39,017 - 39,017 Other service fees - - 53,714 (88) 53,626 Mortgage banking activities - - 12,852 - 12,852 Trading account profit 40 - 374 - 414 Net loss on sale of loans, including valuation adjustments on loans held-for-sale - - (79) - (79) Adjustments (expense) to indemnity reserves on loans sold - - (4,526) - (4,526) FDIC loss-share income - - 4,139 - 4,139 Other operating income 2,968 (828) 7,668 (16) 9,792 Total non-interest income 3,008 (828) 113,159 (104) 115,235 Operating expenses: Personnel costs 11,908 - 104,550 - 116,458 Net occupancy expenses 980 - 20,729 - 21,709 Equipment expenses 545 - 12,866 - 13,411 Other taxes (1,458) - 10,032 - 8,574 Professional fees 2,774 410 72,432 (88) 75,528 Communications 117 - 6,059 - 6,176 Business promotion 436 - 10,377 - 10,813 FDIC deposit insurance - - 6,398 - 6,398 Other real estate owned (OREO) expenses - - 23,069 - 23,069 Other operating expenses (16,935) 109 34,819 (644) 17,349 Amortization of intangibles - - 2,104 - 2,104 Restructuring cost - - 10,753 - 10,753 Total operating expenses (1,633) 519 314,188 (732) 312,342 (Loss) income before income tax and equity in earnings of subsidiaries (6,692) (4,060) 117,677 (872) 106,053 Income tax expense 47 - 32,276 245 32,568 (Loss) income before equity in earnings of subsidiaries (6,739) (4,060) 85,401 (1,117) 73,485 Equity in undistributed earnings of subsidiaries 80,224 1,269 - (81,493) - Income (loss) from continuing operations 73,485 (2,791) 85,401 (82,610) 73,485 Income from discontinued operations, net of tax - - 1,341 - 1,341 Equity in undistributed earnings of discontinued operations 1,341 1,341 - (2,682) - Net Income (loss) $ 74,826 $ (1,450) $ 86,742 $ (85,292) $ 74,826 Comprehensive income, net of tax $ 110,298 $ 11,841 $ 122,078 $ (133,919) $ 110,298 Condensed Consolidating Statement of Cash Flows Quarter ended March 31,2016 All other Popular, Inc. PNA subsidiaries Elimination Popular, Inc. (In thousands) Holding Co. Holding Co. and eliminations entries Consolidated Cash flows from operating activities: Net income $ 84,999 $ 6,346 $ 96,422 $ (102,768) $ 84,999 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Equity in undistributed earnings of subsidiaries (64,477) (8,923) - 73,400 - Provision (reversal) for loan losses (34) - 44,869 - 44,835 Amortization of intangibles - - 3,114 - 3,114 Depreciation and amortization of premises and equipment 177 - 11,530 - 11,707 Net accretion of discounts and amortization of premiums and deferred fees 521 8 (11,687) - (11,158) Fair value adjustments on mortgage servicing rights - - 8,477 - 8,477 FDIC loss-share income - - 3,146 - 3,146 Adjustments (expense) to indemnity reserves on loans sold - - 4,098 - 4,098 (Earnings) losses from investments under the equity method (3,256) 1,303 (5,136) - (7,089) Deferred income tax expense (benefit) 3 (1,387) 24,389 213 23,218 (Gain) loss on: Disposition of premises and equipment and other productive assets - - (1,946) - (1,946) Sale of loans, including valuation adjustments on loans held for sale and mortgage banking activities - - (7,101) - (7,101) Sale of foreclosed assets, including write-downs - - 2,802 - 2,802 Acquisitions of loans held-for-sale - - (66,451) - (66,451) Proceeds from sale of loans held-for-sale - - 22,253 - 22,253 Net originations on loans held-for-sale - - (110,528) - (110,528) Net (increase) decrease in: Trading securities (101) - 176,699 - 176,598 Accrued income receivable 12 79 3,842 (7) 3,926 Other assets 1 21 22,194 (1,220) 20,996 Net (decrease) increase in: Interest payable (7,875) (2,685) (1,708) 7 (12,261) Pension and other postretirement benefits obligations - - 1,536 - 1,536 Other liabilities (4,622) (382) (12,681) 675 (17,010) Total adjustments (79,651) (11,966) 111,711 73,068 93,162 Net cash provided by (used in) operating activities 5,348 (5,620) 208,133 (29,700) 178,161 Cash flows from investing activities: Net decrease in money market investments 6,952 5,412 262,679 (12,411) 262,632 Purchases of investment securities: Available-for-sale - - (742,859) - (742,859) Other - - (59,786) - (59,786) Proceeds from calls, paydowns, maturities and redemptions of investment securities: Available-for-sale - - 239,399 - 239,399 Held-to-maturity - - 2,108 - 2,108 Other - - 41,664 - 41,664 Proceeds from sale of investment securities: Other - - 26,346 - 26,346 Net repayments on loans 8 - 13,327 - 13,335 Proceeds from sale of loans - - 1,128 - 1,128 Acquisition of loan portfolios - - (212,798) - (212,798) Net payments from FDIC under loss-sharing agreements - - 88,588 - 88,588 Return of capital from equity method investments - 206 - - 206 Acquisition of premises and equipment (398) - (38,421) - (38,819) Proceeds from sale of: Premises and equipment and other productive assets 46 - 5,046 - 5,092 Foreclosed assets - - 14,513 - 14,513 Net cash provided by (used in) investing activities 6,608 5,618 (359,066) (12,411) (359,251) Cash flows from financing activities: Net increase (decrease) in: Deposits - - 302,718 15,832 318,550 Federal funds purchased and assets sold under agreements to repurchase - - (1,991) - (1,991) Other short-term borrowings - - 5,170 - 5,170 Payments of notes payable - - (108,452) - (108,452) Proceeds from issuance of notes payable - - 28,883 - 28,883 Proceeds from issuance of common stock 2,109 - - - 2,109 Dividends paid to parent company - - (29,700) 29,700 - Dividends paid (16,473) - - - (16,473) Net payments for repurchase of common stock (757) - - - (757) Net cash (used in) provided by financing activities (15,121) - 196,628 45,532 227,039 Net (decrease) increase in cash and due from banks (3,165) (2) 45,695 3,421 45,949 Cash and due from banks at beginning of period 24,298 600 363,620 (24,844) 363,674 Cash and due from banks at end of period $ 21,133 $ 598 $ 409,315 $ (21,423) $ 409,623 During the quarter ended March 31, 2016 there have not been any cash flows associated with discontinued operations. Condensed Consolidating Statement of Cash Flow s Quarter ended March 31,2015 All other Popular, Inc. PNA subsidiaries Elimination Popular, Inc. (In thousands) Holding Co. Holding Co. and eliminations entries Consolidated Cash flows from operating activities: Net income (loss) $ 74,826 $ (1,450) $ 86,742 $ (85,292) $ 74,826 Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: Equity in undistributed (earnings) losses of subsidiaries (81,565) (2,610) - 84,175 - Provision for loan losses - - 40,035 - 40,035 Amortization of intangibles - - 2,104 - 2,104 Depreciation and amortization of premises and equipment 194 - 11,725 - 11,919 Net accretion of discounts and amortization of premiums and deferred fees - - (19,100) - (19,100) Fair value adjustments on mortgage servicing rights - - 4,929 - 4,929 FDIC loss-share income - - (4,139) - (4,139) Adjustments (expense) to indemnity reserves on loans sold - - 4,526 - 4,526 Earnings from investments under the equity method (2,968) 828 (161) - (2,301) Deferred income tax expense - - 23,135 245 23,380 (Gain) loss on: Disposition of premises and equipment - - (978) - (978) Sale of loans, including valuation adjustments on loans held for sale and mortgage banking activities - - (7,222) - (7,222) Sale of foreclosed assets, including write-downs - - 14,851 - 14,851 Acquisitions of loans held-for-sale - - (121,929) - (121,929) Proceeds from sale of loans held-for-sale - - 27,547 - 27,547 Net originations on loans held-for-sale - - (179,604) - (179,604) Net (increase) decrease in: Trading securities (126) - 178,068 - 177,942 Accrued income receivable (56) 81 (94) 56 (13) Other assets 3,716 28 (27,900) (3,871) (28,027) Net (decrease) increase in: Interest payable (7,875) (2,629) 344 (56) (10,216) Pension and other postretirement benefits obligations - - 1,019 - 1,019 Other liabilities (12,816) (7) (9,797) 3,243 (19,377) Total adjustments (101,496) (4,309) (62,641) 83,792 (84,654) Net cash (used in) provided by operating activities (26,670) (5,759) 24,101 (1,500) (9,828) Cash flows from investing activities: Net (increase) decrease in money market investments (38) (1,457) (484,791) 1,457 (484,829) Purchases of investment securities: Available-for-sale - - (411,189) - (411,189) Held-to-maturity - - (250) - (250) Other - - (2,520) - (2,520) Proceeds from calls, paydowns, maturities and redemptions of investment securities: Available-for-sale - - 385,672 - 385,672 Held-to-maturity - - 2,231 - 2,231 Other - - 30,785 - 30,785 Proceeds from sale of investment securities: Other - - 1,388 - 1,388 Net repayments on loans 10,392 - 154,788 (10,386) 154,794 Proceeds from sale of loans - - 19,127 - 19,127 Acquisition of loan portfolios - - (49,510) - (49,510) Net payments from FDIC under loss-sharing agreements - - 132,265 - 132,265 Net cash received and acquired from business combination - - 711,051 - 711,051 Mortgage servicing rights purchased - - (2,400) - (2,400) Acquisition of premises and equipment (242) - (9,989) - (10,231) Proceeds from sale of: Premises and equipment 3 - 3,090 - 3,093 Foreclosed assets - - 40,161 - 40,161 Net cash provided by (used in) investing activities 10,115 (1,457) 519,909 (8,929) 519,638 Cash flows from financing activities: Net increase (decrease) in: Deposits - - 250,582 15,324 265,906 Federal funds purchased and assets sold under agreements to repurchase - - (139,013) - (139,013) Other short-term borrowings - 7,214 (165,815) 10,386 (148,215) Payments of notes payable - - (419,487) - (419,487) Proceeds from issuance of notes payable - - 46,000 - 46,000 Proceeds from issuance of common stock 1,405 - - - 1,405 Dividends paid to parent company - - (1,500) 1,500 - Dividends paid (620) - - - (620) Net payments for repurchase of common stock (1,105) - - - (1,105) Net cash (used in) provided by financing activities (320) 7,214 (429,233) 27,210 (395,129) Net (decrease) increase in cash and due from banks (16,875) (2) 114,777 16,781 114,681 Cash and due from banks at beginning of period 20,448 608 380,890 (20,851) 381,095 Cash and due from banks at end of period $ 3,573 $ 606 $ 495,667 $ (4,070) $ 495,776 The Condensed Consolidating Statements of Cash Flows include the cash flows from operating, investing and financing activities associated with discontinued operations. |
Basis of presentation and sum45
Basis of presentation and summary of significant accounting policies (Policies) | 3 Months Ended |
Mar. 31, 2016 | |
Accounting Policies | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation and Basis of Presentation The consolidated interim financial statements have been prepared without audit. The consolidated statement of financial condition data at December 31, 2015 was derived from audited financial statements. The unaudited interim financial statements are, in the opinion of management, a fair statement of the results for the periods reported and include all necessary adjustmen ts, all of a normal recurring nature, for a fair statement of such results. Certain reclassifications have been made to the 2015 consolidated financial statements and notes to the financial statements to conform with the 2016 presentation. Certain information and note disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted from the unaudited financial statements pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, these financial statements should be read in conjunction with the audited consolidated financial statements of the Corporation for the year ended December 31, 2015 , in cluded in the Corporation’s 2015 Form 10-K . Operating results for the interim periods disclosed herein are not necessarily indicative of the results that may be expected for a full year or any future period. |
Use of Estimates, Policy [Policy Text Block] | Use of Es timates in the Preparation of Financial Statements The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the rep orted amounts of assets and liabilities and contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Discontinued operations and r46
Discontinued operations and restructuring plan (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Discontinued Operations And Disposal Groups | |
Schedule Of Restructuring And Related Costs [Table Text Block] | Quarters ended March 31, (In thousands) 2016 2015 Beginning balance $ 620 $ 13,536 Charges expensed during the period - 6,297 Payments made during the period (263) (9,030) Ending balance $ 357 $ 10,803 |
Business combination (Tables)
Business combination (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Table Text Block | |
Schedule Of Recognized Identified Assets Acquired And Liabilities Assumed Table Text Block | Book value prior to purchase accounting Fair value Additional As recorded by (In thousands) adjustments adjustments consideration [1] Popular, Inc. Assets: Cash and due from banks $ 339,633 $ - $ - $ 339,633 Investment in available-for-sale securities 172,706 - - 172,706 Investments in FHLB stock 30,785 - - 30,785 Loans 1,679,792 (165,925) - 1,513,867 Accrued income receivable 7,808 - - 7,808 Receivable from the FDIC - - 480,137 480,137 Core deposit intangible 23,572 (10,762) - 12,810 Other assets 67,676 7,569 - 75,245 Total assets $ 2,321,972 $ (169,118) $ 480,137 $ 2,632,991 Liabilities: Deposits $ 2,193,404 $ 9,987 $ - $ 2,203,391 Advances from the Federal Home Loan Bank 542,000 5,187 - 547,187 Other liabilities 50,728 (511) - 50,217 Total liabilities $ 2,786,132 $ 14,663 $ - $ 2,800,795 Excess of liabilities assumed over assets acquired $ 464,160 Aggregate fair value adjustments $ (183,781) Additional consideration $ 480,137 Goodwill on acquisition $ 167,804 [1] The additional consideration represents the cash to be received from the FDIC for the difference between the net liabilities assumed and the net premium paid on the transaction. February 27, 2015 February 27, 2015 As recasted [a] As previously (In thousands) reported [b] Change Assets: Loans $ 1,513,867 $ 1,665,756 $ (151,889) Goodwill 167,804 41,633 126,171 Core deposit intangible 12,810 23,572 (10,762) Receivable from the FDIC 480,137 441,721 38,416 Other assets 626,177 626,177 - Total assets $ 2,800,795 $ 2,798,859 $ 1,936 Liabilities: Deposits $ 2,203,391 $ 2,201,455 $ 1,936 Advances from the Federal Home Loan Bank 547,187 547,187 - Other liabilities 50,217 50,217 - Total liabilities $ 2,800,795 $ 2,798,859 $ 1,936 [a] Amounts reported include retrospective adjustments during the measurement period, in accordance with U.S. GAAP, related to the Doral Bank Transaction. [b] Amounts are presented as previously reported as of September 30, 2015. |
Schedule Of Impact To The Statement of Operations As A Result Of The Recasting Table [Text Block] | Quarter ended March 31, 2015 (In thousands) As recasted As reported Difference Net Interest Income $ 10,306 $ 9,768 $ 538 Non-Interest Income 4,262 4,262 - Operating Expenses 14,398 14,488 (90) Income Before Taxes $ 170 $ (458) $ 628 |
Investment securities (Tables)
Investment securities (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Available For Sale Securities Text Block | At March 31, 2016 Gross Gross Weighted Amortized unrealized unrealized Fair average (In thousands) cost gains losses value yield U.S. Treasury securities Within 1 year $ 24,665 $ 143 $ - $ 24,808 4.92 % After 1 to 5 years 1,281,481 6,792 - 1,288,273 1.03 After 5 to 10 years 9,939 332 - 10,271 1.99 Total U.S. Treasury securities 1,316,085 7,267 - 1,323,352 1.11 Obligations of U.S. Government sponsored entities After 1 to 5 years 904,631 5,221 109 909,743 1.33 After 5 to 10 years 250 3 - 253 5.64 After 10 years 23,000 - 58 22,942 3.24 Total obligations of U.S. Government sponsored entities 927,881 5,224 167 932,938 1.38 Obligations of Puerto Rico, States and political subdivisions After 1 to 5 years 7,292 - 176 7,116 3.88 After 5 to 10 years 5,925 1 1,963 3,963 4.02 After 10 years 18,604 1 5,954 12,651 6.99 Total obligations of Puerto Rico, States and political subdivisions 31,821 2 8,093 23,730 5.72 Collateralized mortgage obligations - federal agencies Within 1 year 282 - - 282 0.95 After 1 to 5 years 20,257 918 - 21,175 2.86 After 5 to 10 years 41,078 818 - 41,896 2.86 After 10 years 1,447,516 14,027 11,325 1,450,218 1.98 Total collateralized mortgage obligations - federal agencies 1,509,133 15,763 11,325 1,513,571 2.01 Mortgage-backed securities Within 1 year 25 - - 25 4.80 After 1 to 5 years 20,808 990 6 21,792 4.64 After 5 to 10 years 281,359 6,195 2 287,552 2.43 After 10 years 2,485,109 50,510 1,282 2,534,337 2.76 Total mortgage-backed securities 2,787,301 57,695 1,290 2,843,706 2.74 Equity securities (without contractual maturity) 1,351 1,090 2 2,439 7.82 Other After 1 to 5 years 8,819 10 - 8,829 1.72 After 5 to 10 years 1,220 45 - 1,265 3.62 Total other 10,039 55 - 10,094 1.95 Total investment securities available-for-sale [1] $ 6,583,611 $ 87,096 $ 20,877 $ 6,649,830 2.07 % [1]Includes $2.2 billion pledged to secure public and trust deposits, assets sold under agreements to repurchase, credit facilities and loan servicing agreements that the secured parties are not permitted to sell or repledge the collateral, of which $1.3 billion serve as collateral for public funds. At December 31, 2015 Gross Gross Weighted Amortized unrealized unrealized Fair average (In thousands) cost gains losses value yield U.S. Treasury securities Within 1 year $ 24,861 $ 335 $ - $ 25,196 4.31 % After 1 to 5 years 1,149,807 365 1,999 1,148,173 1.03 After 5 to 10 years 9,937 22 - 9,959 1.99 Total U.S. Treasury securities 1,184,605 722 1,999 1,183,328 1.11 Obligations of U.S. Government sponsored entities After 1 to 5 years 919,819 1,337 4,808 916,348 1.33 After 5 to 10 years 250 1 - 251 5.64 After 10 years 23,000 42 - 23,042 3.22 Total obligations of U.S. Government sponsored entities 943,069 1,380 4,808 939,641 1.38 Obligations of Puerto Rico, States and political subdivisions After 1 to 5 years 7,227 - 199 7,028 3.94 After 5 to 10 years 5,925 - 2,200 3,725 4.02 After 10 years 18,585 - 6,979 11,606 6.99 Total obligations of Puerto Rico, States and political subdivisions 31,737 - 9,378 22,359 5.74 Collateralized mortgage obligations - federal agencies After 1 to 5 years 21,446 594 37 22,003 2.81 After 5 to 10 years 44,585 733 - 45,318 2.85 After 10 years 1,518,662 8,137 33,283 1,493,516 1.99 Total collateralized mortgage obligations - federal agencies 1,584,693 9,464 33,320 1,560,837 2.02 Mortgage-backed securities After 1 to 5 years 22,015 987 8 22,994 4.65 After 5 to 10 years 256,097 4,866 1,197 259,766 2.51 After 10 years 2,039,217 34,839 12,620 2,061,436 2.83 Total mortgage-backed securities 2,317,329 40,692 13,825 2,344,196 2.81 Equity securities (without contractual maturity) 1,350 1,053 5 2,398 7.92 Other After 1 to 5 years 8,911 - 28 8,883 1.71 After 5 to 10 years 1,311 39 - 1,350 3.62 Total other 10,222 39 28 10,233 1.95 Total investment securities available-for-sale [1] $ 6,073,005 $ 53,350 $ 63,363 $ 6,062,992 2.07 % [1]Includes $2.4 billion pledged to secure public and trust deposits, assets sold under agreements to repurchase, credit facilities and loan servicing agreements that the secured parties are not permitted to sell or repledge the collateral, of which $1.5 billion serve as collateral for public funds. |
Held To Maturity Securities Text Block | At March 31, 2016 Gross Gross Weighted Amortized unrealized unrealized Fair average (In thousands) cost gains losses value yield Obligations of Puerto Rico, States and political subdivisions Within 1 year $ 3,050 $ - $ 1,601 $ 1,449 5.91 % After 1 to 5 years 14,270 - 5,910 8,360 6.00 After 5 to 10 years 18,930 - 7,716 11,214 6.17 After 10 years 60,880 5,266 8,320 57,826 1.99 Total obligations of Puerto Rico, States and political subdivisions 97,130 5,266 23,547 78,849 3.52 Collateralized mortgage obligations - federal agencies After 5 to 10 years 86 5 - 91 5.45 Total collateralized mortgage obligations - federal agencies 86 5 - 91 5.45 Other After 1 to 5 years 2,000 - 26 1,974 1.81 Total other 2,000 - 26 1,974 1.81 Total investment securities held-to-maturity [1] $ 99,216 $ 5,271 $ 23,573 $ 80,914 3.49 % [1]Includes $97.5 million pledged to secure public and trust deposits that the secured parties are not permitted to sell or repledge the collateral. At December 31, 2015 Gross Gross Weighted Amortized unrealized unrealized Fair average (In thousands) cost gains losses value yield Obligations of Puerto Rico, States and political subdivisions Within 1 year $ 2,920 $ - $ 291 $ 2,629 5.90 % After 1 to 5 years 13,655 - 5,015 8,640 5.98 After 5 to 10 years 20,020 - 8,020 12,000 6.14 After 10 years 62,222 3,604 8,280 57,546 2.08 Total obligations of Puerto Rico, States and political subdivisions 98,817 3,604 21,606 80,815 3.55 Collateralized mortgage obligations - federal agencies After 5 to 10 years 86 5 - 91 5.45 Total collateralized mortgage obligations - federal agencies 86 5 - 91 5.45 Other After 1 to 5 years 2,000 - 17 1,983 1.81 Total other 2,000 - 17 1,983 1.81 Total investment securities held-to-maturity [1] $ 100,903 $ 3,609 $ 21,623 $ 82,889 3.52 % [1]Includes $57.2 million pledged to secure public and trust deposits that the secured parties are not permitted to sell or repledge the collateral. |
Securities That Exceed 10 Percent Of Stockholders Equity [Member] | |
Investments In Debt And Marketable Equity Securities And Certain Trading Assets Disclosure Text Block | March 31, 2016 December 31, 2015 (In thousands) Amortized cost Fair value Amortized cost Fair value FNMA $ 2,799,998 $ 2,824,458 $ 2,649,860 $ 2,633,899 FHLB 329,822 331,546 340,119 338,700 Freddie Mac 1,221,128 1,228,096 1,088,691 1,079,956 |
Available For Sale Securities Member | |
Schedule Of Unrealized Loss On Investments Table Text Block | At March 31, 2016 Less than 12 months 12 months or more Total Gross Gross Gross Fair unrealized Fair unrealized Fair unrealized (In thousands) value losses value losses value losses Obligations of U.S. Government sponsored entities $ 73,342 $ 113 $ 19,376 $ 54 $ 92,718 $ 167 Obligations of Puerto Rico, States and political subdivisions 6,229 10 15,515 8,083 21,744 8,093 Collateralized mortgage obligations - federal agencies - - 656,971 11,325 656,971 11,325 Mortgage-backed securities 231,705 816 80,005 474 311,710 1,290 Equity securities 48 2 - - 48 2 Total investment securities available-for-sale in an unrealized loss position $ 311,324 $ 941 $ 771,867 $ 19,936 $ 1,083,191 $ 20,877 At December 31, 2015 Less than 12 months 12 months or more Total Gross Gross Gross Fair unrealized Fair unrealized Fair unrealized (In thousands) value losses value losses value losses U.S. Treasury securities $ 589,689 $ 1,999 $ - $ - $ 589,689 $ 1,999 Obligations of U.S. Government sponsored entities 390,319 2,128 181,744 2,680 572,063 4,808 Obligations of Puerto Rico, States and political subdivisions 884 164 19,490 9,214 20,374 9,378 Collateralized mortgage obligations - federal agencies 331,501 4,446 814,195 28,874 1,145,696 33,320 Mortgage-backed securities 1,641,663 12,992 22,362 833 1,664,025 13,825 Equity securities 45 5 - - 45 5 Other 8,883 28 - - 8,883 28 Total investment securities available-for-sale in an unrealized loss position $ 2,962,984 $ 21,762 $ 1,037,791 $ 41,601 $ 4,000,775 $ 63,363 |
Held To Maturity Securities Member | |
Schedule Of Unrealized Loss On Investments Table Text Block | At March 31, 2016 Less than 12 months 12 months or more Total Gross Gross Gross Fair unrealized Fair unrealized Fair unrealized (In thousands) value losses value losses value losses Obligations of Puerto Rico, States and political subdivisions $ - $ - $ 31,393 $ 23,547 $ 31,393 $ 23,547 Other 1,724 26 - - 1,724 26 Total investment securities held-to-maturity in an unrealized loss position $ 1,724 $ 26 $ 31,393 $ 23,547 $ 33,117 $ 23,573 At December 31, 2015 Less than 12 months 12 months or more Total Gross Gross Gross Fair unrealized Fair unrealized Fair unrealized (In thousands) value losses value losses value losses Obligations of Puerto Rico, States and political subdivisions $ - $ - $ 33,334 $ 21,606 $ 33,334 $ 21,606 Other 1,483 17 - - 1,483 17 Total investment securities held-to-maturity in an unrealized loss position $ 1,483 $ 17 $ 33,334 $ 21,606 $ 34,817 $ 21,623 |
Loans (Tables)
Loans (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
ASC Subtopic 310-30 | |
Disclosure Of Carrying Amount Of Loans Acquired In F D I C Assisted Transaction [Table Text Block] | March 31, 2016 [1] December 31, 2015 [1] Carrying amount Carrying amount (In thousands) Non-credit impaired loans Credit impaired loans Total Non-credit impaired loans Credit impaired loans Total Commercial real estate $ 1,104,257 $ 30,090 $ 1,134,347 $ 1,114,368 $ 35,393 $ 1,149,761 Commercial and industrial 83,267 519 83,786 84,765 519 85,284 Construction 8,479 6,026 14,505 8,943 6,027 14,970 Mortgage 647,739 31,627 679,366 667,023 33,090 700,113 Consumer 22,198 1,239 23,437 23,047 1,326 24,373 Carrying amount 1,865,940 69,501 1,935,441 1,898,146 76,355 1,974,501 Allowance for loan losses (58,703) (4,264) (62,967) (59,753) (3,810) (63,563) Carrying amount, net of allowance $ 1,807,237 $ 65,237 $ 1,872,474 $ 1,838,393 $ 72,545 $ 1,910,938 [1] The carrying amount of loans acquired from Westernbank and accounted for under ASC 310-30 which remains subject to the loss sharing agreement with the FDIC amounted to approximately $615 million as of March 31, 2016 and $636 million as of December 31, 2015. |
Accretable Yield For Acquired Loans [Table Text Block] | Activity in the accretable yield Westernbank loans ASC 310-30 For the quarters ended March 31, 2016 March 31, 2015 Non-credit Credit Non-credit Credit (In thousands) impaired loans impaired loans Total impaired loans impaired loans Total Beginning balance $ 1,105,732 $ 6,726 $ 1,112,458 $ 1,265,752 $ 5,585 $ 1,271,337 Accretion (42,000) (1,533) (43,533) (53,776) (1,921) (55,697) Change in expected cash flows 54,544 5,339 59,883 42,273 1,035 43,308 Ending balance $ 1,118,276 $ 10,532 $ 1,128,808 $ 1,254,249 $ 4,699 $ 1,258,948 Activity in the accretable yield - Other acquired loans ASC 310-30 For the quarters ended (In thousands) March 31, 2016 March 31, 2015 Beginning balance $ 221,128 $ 116,304 Additions 4,340 50,662 Accretion (8,555) (3,223) Change in expected cash flows 50,855 (5,319) Ending balance $ 267,768 $ 158,424 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Table Text Block] | Carrying amount of Westernbank loans accounted for pursuant to ASC 310-30 For the quarters ended March 31, 2016 [1] March 31, 2015 Non-credit Credit Non-credit Credit (In thousands) impaired loans impaired loans Total impaired loans impaired loans Total Beginning balance $ 1,898,146 $ 76,355 $ 1,974,501 $ 2,272,142 $ 172,030 $ 2,444,172 Accretion 42,000 1,533 43,533 53,776 1,921 55,697 Collections and charge-offs (74,206) (8,387) (82,593) (114,137) (18,636) (132,773) Ending balance $ 1,865,940 $ 69,501 $ 1,935,441 $ 2,211,781 $ 155,315 $ 2,367,096 Allowance for loan losses ASC 310-30 Westernbank loans (58,703) (4,264) (62,967) (49,750) (18,636) (68,386) Ending balance, net of ALLL $ 1,807,237 $ 65,237 $ 1,872,474 $ 2,162,031 $ 136,679 $ 2,298,710 [1] The carrying amount of loans acquired from Westernbank and accounted for under ASC 310-30 which remain subject to the loss sharing agreement with the FDIC amounted to approximately $ 615 million as of March 31, 2016. Carrying amount of other acquired loans accounted for pursuant to ASC 310-30 For the quarters ended (In thousands) March 31, 2016 March 31, 2015 Beginning balance $ 564,050 $ 212,763 Purchase accounting adjustments related to the Doral Bank Transaction (Refer to Note 5) (4,707) - Additions 10,051 157,091 Accretion 8,555 3,223 Collections and charge-offs (15,226) (9,980) Ending balance $ 562,723 $ 363,097 Allowance for loan losses ASC 310-30 non-covered loans (15,258) (16,092) Ending balance, net of allowance for loan losses $ 547,465 $ 347,005 |
ASC Subtopic 310-30 | FDIC Assisted Partial Acquisition Of Doral Bank | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Table Text Block] | (In thousands) Contractually-required principal and interest $ 560,833 Non-accretable difference 112,153 Cash flows expected to be collected 448,680 Accretable yield 113,977 Fair value of loans accounted for under ASC Subtopic 310-30 $ 334,703 |
Non Covered Loans | ASC Subtopic 310-20 | FDIC Assisted Partial Acquisition Of Doral Bank | |
Accounting For Certain Loans Acquired In Transfer Disclosure [Table Text Block] | (In thousands) Fair value of loans accounted under ASC Subtopic 310-20 $ 1,178,543 Gross contractual amounts receivable (principal and interest) $ 1,666,695 Estimate of contractual cash flows not expected to be collected $ 34,646 |
Covered loans | |
Schedule Of Financing Receivables Non Accrual Status [Table Text Block] | March 31, 2016 December 31, 2015 Non-accrual Accruing loans past Non-accrual Accruing loans past (In thousands) loans due 90 days or more loans due 90 days or more Mortgage $ 3,408 $ - $ 3,790 $ - Consumer 111 - 97 - Total [1] $ 3,519 $ - $ 3,887 $ - |
Loans Held for Investment | Non Covered Loans | |
Schedule Of Financing Receivables Non Accrual Status [Table Text Block] | At March 31, 2016 Puerto Rico U.S. mainland Popular, Inc. Accruing loans Accruing loans Accruing loans Non-accrual past-due 90 Non-accrual past-due 90 Non-accrual past-due 90 (In thousands) loans days or more [1] loans days or more [1] loans days or more [1] Commercial multi-family $ 1,178 $ - $ 246 $ - $ 1,424 $ - Commercial real estate non-owner occupied 32,310 - 11,155 - 43,465 - Commercial real estate owner occupied 110,972 - 193 - 111,165 - Commercial and industrial 38,179 332 3,398 - 41,577 332 Construction 3,270 - 671 - 3,941 - Mortgage [3] 322,838 406,327 12,069 - 334,907 406,327 Leasing 3,419 - - - 3,419 - Legacy - - 4,046 - 4,046 - Consumer: Credit cards - 18,864 382 - 382 18,864 Home equity lines of credit - 280 4,309 - 4,309 280 Personal 20,023 46 1,429 - 21,452 46 Auto 10,844 - 6 - 10,850 - Other 18,579 588 10 - 18,589 588 Total [2] $ 561,612 $ 426,437 $ 37,914 $ - $ 599,526 $ 426,437 At December 31, 2015 Puerto Rico U.S. mainland Popular, Inc. Accruing loans Accruing loans Accruing loans Non-accrual past-due 90 Non-accrual past-due 90 Non-accrual past-due 90 (In thousands) loans days or more [1] loans days or more [1] loans days or more [1] Commercial multi-family $ 1,062 $ - $ - $ - $ 1,062 $ - Commercial real estate non-owner occupied 33,720 - 253 - 33,973 - Commercial real estate owner occupied 106,449 - 221 - 106,670 - Commercial and industrial 36,671 555 3,440 - 40,111 555 Construction 3,550 - - - 3,550 - Mortgage [3] 337,933 426,094 13,538 - 351,471 426,094 Leasing 3,009 - - - 3,009 - Legacy - - 3,649 - 3,649 - Consumer: Credit cards - 19,098 437 - 437 19,098 Home equity lines of credit - 394 4,176 - 4,176 394 Personal 22,102 523 1,240 - 23,342 523 Auto 11,640 - 6 - 11,646 - Other 18,698 61 5 - 18,703 61 Total [2] $ 574,834 $ 446,725 $ 26,965 $ - $ 601,799 $ 446,725 |
Past Due Financing Receivables Table Text Block | March 31, 2016 Puerto Rico Past due Non-covered 30-59 60-89 90 days Total loans HIP (In thousands) days days or more past due Current Puerto Rico Commercial multi-family $ 652 $ 168 $ 1,418 $ 2,238 $ 172,413 $ 174,651 Commercial real estate non-owner occupied 46,119 3,102 103,719 152,940 2,506,513 2,659,453 Commercial real estate owner occupied 16,339 6,608 141,443 164,390 1,703,399 1,867,789 Commercial and industrial 7,267 4,297 39,529 51,093 2,615,305 2,666,398 Construction 678 372 13,133 14,183 90,961 105,144 Mortgage 352,313 134,842 823,440 1,310,595 4,789,164 6,099,759 Leasing 7,209 1,598 3,419 12,226 630,916 643,142 Consumer: Credit cards 10,915 7,159 18,864 36,938 1,061,845 1,098,783 Home equity lines of credit 82 141 280 503 9,126 9,629 Personal 12,963 7,693 20,495 41,151 1,150,239 1,191,390 Auto 32,638 6,029 10,844 49,511 776,794 826,305 Other 1,337 282 19,220 20,839 162,145 182,984 Total $ 488,512 $ 172,291 $ 1,195,804 $ 1,856,607 $ 15,668,820 $ 17,525,427 March 31, 2016 U.S. mainland Past due 30-59 60-89 90 days Total Loans HIP (In thousands) days days or more past due Current U.S. mainland Commercial multi-family $ 32 $ - $ 246 $ 278 $ 762,276 $ 762,554 Commercial real estate non-owner occupied 9,556 - 11,155 20,711 969,937 990,648 Commercial real estate owner occupied 3,817 - 193 4,010 219,791 223,801 Commercial and industrial 16,935 156 84,086 101,177 781,918 883,095 Construction 15,091 - 671 15,762 613,952 629,714 Mortgage 18,877 514 12,069 31,460 847,982 879,442 Legacy 3,119 400 4,046 7,565 53,479 61,044 Consumer: Credit cards 187 157 382 726 12,292 13,018 Home equity lines of credit 1,701 845 4,309 6,855 287,405 294,260 Personal 1,624 639 1,429 3,692 240,722 244,414 Auto - - 6 6 18 24 Other - - 10 10 286 296 Total $ 70,939 $ 2,711 $ 118,602 $ 192,252 $ 4,790,058 $ 4,982,310 March 31, 2016 Popular, Inc. Past due Non-covered 30-59 60-89 90 days Total loans HIP (In thousands) days days or more past due Current Popular, Inc. [1] [2] Commercial multi-family $ 684 $ 168 $ 1,664 $ 2,516 $ 934,689 $ 937,205 Commercial real estate non-owner occupied 55,675 3,102 114,874 173,651 3,476,450 3,650,101 Commercial real estate owner occupied 20,156 6,608 141,636 168,400 1,923,190 2,091,590 Commercial and industrial 24,202 4,453 123,615 152,270 3,397,223 3,549,493 Construction 15,769 372 13,804 29,945 704,913 734,858 Mortgage 371,190 135,356 835,509 1,342,055 5,637,146 6,979,201 Leasing 7,209 1,598 3,419 12,226 630,916 643,142 Legacy [3] 3,119 400 4,046 7,565 53,479 61,044 Consumer: Credit cards 11,102 7,316 19,246 37,664 1,074,137 1,111,801 Home equity lines of credit 1,783 986 4,589 7,358 296,531 303,889 Personal 14,587 8,332 21,924 44,843 1,390,961 1,435,804 Auto 32,638 6,029 10,850 49,517 776,812 826,329 Other 1,337 282 19,230 20,849 162,431 183,280 Total $ 559,451 $ 175,002 $ 1,314,406 $ 2,048,859 $ 20,458,878 $ 22,507,737 December 31, 2015 Puerto Rico Past due Non-covered 30-59 60-89 90 days Total loans HIP (In thousands) days days or more past due Current Puerto Rico Commercial multi-family $ 459 $ 217 $ 1,316 $ 1,992 $ 130,154 $ 132,146 Commercial real estate non-owner occupied 166,732 12,520 84,982 264,234 2,404,858 2,669,092 Commercial real estate owner occupied 14,245 5,624 138,778 158,647 1,750,597 1,909,244 Commercial and industrial 6,010 6,059 38,464 50,533 2,607,204 2,657,737 Construction 238 253 13,738 14,229 86,719 100,948 Mortgage 344,858 162,341 863,869 1,371,068 4,756,423 6,127,491 Leasing 7,844 1,630 3,009 12,483 615,167 627,650 Consumer: Credit cards 11,078 9,414 19,098 39,590 1,088,755 1,128,345 Home equity lines of credit 186 292 394 872 9,816 10,688 Personal 13,756 7,889 22,625 44,270 1,158,565 1,202,835 Auto 33,554 7,500 11,640 52,694 763,256 815,950 Other 1,069 298 19,232 20,599 167,885 188,484 Total $ 600,029 $ 214,037 $ 1,217,145 $ 2,031,211 $ 15,539,399 $ 17,570,610 December 31, 2015 U.S. mainland Past due 30-59 60-89 90 days Total Loans HIP (In thousands) days days or more past due Current U.S. mainland Commercial multi-family $ 33 $ 253 $ - $ 286 $ 693,647 $ 693,933 Commercial real estate non-owner occupied 160 - 253 413 962,610 963,023 Commercial real estate owner occupied 1,490 429 221 2,140 200,204 202,344 Commercial and industrial 13,647 1,526 75,575 90,748 780,896 871,644 Construction - - - - 580,158 580,158 Mortgage 18,957 3,424 13,538 35,919 872,671 908,590 Legacy 1,160 662 3,649 5,471 58,965 64,436 Consumer: Credit cards 327 134 437 898 13,037 13,935 Home equity lines of credit 3,149 1,114 4,176 8,439 296,045 304,484 Personal 1,836 690 1,240 3,766 168,860 172,626 Auto - - 6 6 22 28 Other - 10 5 15 289 304 Total $ 40,759 $ 8,242 $ 99,100 $ 148,101 $ 4,627,404 $ 4,775,505 December 31, 2015 Popular, Inc. Past due Non-covered 30-59 60-89 90 days Total loans HIP (In thousands) days days or more past due Current Popular, Inc. [1] [2] Commercial multi-family $ 492 $ 470 $ 1,316 $ 2,278 $ 823,801 $ 826,079 Commercial real estate non-owner occupied 166,892 12,520 85,235 264,647 3,367,468 3,632,115 Commercial real estate owner occupied 15,735 6,053 138,999 160,787 1,950,801 2,111,588 Commercial and industrial 19,657 7,585 114,039 141,281 3,388,100 3,529,381 Construction 238 253 13,738 14,229 666,877 681,106 Mortgage 363,815 165,765 877,407 1,406,987 5,629,094 7,036,081 Leasing 7,844 1,630 3,009 12,483 615,167 627,650 Legacy [3] 1,160 662 3,649 5,471 58,965 64,436 Consumer: Credit cards 11,405 9,548 19,535 40,488 1,101,792 1,142,280 Home equity lines of credit 3,335 1,406 4,570 9,311 305,861 315,172 Personal 15,592 8,579 23,865 48,036 1,327,425 1,375,461 Auto 33,554 7,500 11,646 52,700 763,278 815,978 Other 1,069 308 19,237 20,614 168,174 188,788 Total $ 640,788 $ 222,279 $ 1,316,245 $ 2,179,312 $ 20,166,803 $ 22,346,115 |
Loans Held for Investment | Covered loans | |
Past Due Financing Receivables Table Text Block | March 31, 2016 Past due 30-59 60-89 90 days Total Covered (In thousands) days days or more past due Current loans HIP [1] Mortgage $ 29,539 $ 15,953 $ 77,968 $ 123,460 $ 483,251 $ 606,711 Consumer 1,108 324 1,389 2,821 15,598 18,419 Total covered loans $ 30,647 $ 16,277 $ 79,357 $ 126,281 $ 498,849 $ 625,130 [1] Includes $374 million pledged to secure credit facilities at the FHLB which are not permitted to sell or repledge the collateral. December 31, 2015 Past due 30-59 60-89 90 days Total Covered (In thousands) days days or more past due Current loans HIP [1] Mortgage $ 31,413 $ 16,593 $ 83,132 $ 131,138 $ 495,964 $ 627,102 Consumer 1,246 444 1,283 2,973 16,040 19,013 Total covered loans $ 32,659 $ 17,037 $ 84,415 $ 134,111 $ 512,004 $ 646,115 [1] Includes $386 million pledged to secure credit facilities at the FHLB which are not permitted to sell or repledge the collateral. |
Loans Held-for-Sale | Non Covered Loans | |
Loans Held For Sale In Non Performing Status [Table Text Block] | (In thousands) March 31, 2016 December 31, 2015 Commercial $ 42,741 $ 45,074 Construction 2 95 Total $ 42,743 $ 45,169 |
Schedule Of Accounts Notes Loans And Financing Receivable Text Block | (In thousands) March 31, 2016 December 31, 2015 Commercial $ 42,771 $ 45,074 Construction 2 95 Mortgage 82,542 91,831 Total loans held-for-sale $ 125,315 $ 137,000 |
Allowance for loan losses (Tabl
Allowance for loan losses (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Schedule Of Credit Losses Related To Financing Receivables Current And Noncurrent Table Text Block | ASC 310-30 Westernbank loans For the quarters ended (In thousands) March 31, 2016 March 31, 2015 Balance at beginning of period $ 63,563 $ 78,846 Provision for loan losses 1,791 8,601 Net charge-offs (2,387) (19,061) Balance at end of period $ 62,967 $ 68,386 |
Allowance For Credit Losses On Financing Receivables Table Text Block | For the quarter ended March 31, 2016 Puerto Rico - Non-covered loans (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses: Beginning balance $ 186,925 $ 4,957 $ 128,327 $ 10,993 $ 138,721 $ 469,923 Provision (reversal of provision) 13,369 (409) 10,869 1,680 18,362 43,871 Charge-offs (8,968) (544) (15,972) (2,127) (27,379) (54,990) Recoveries 6,264 233 1,276 489 6,081 14,343 Ending balance $ 197,590 $ 4,237 $ 124,500 $ 11,035 $ 135,785 $ 473,147 Specific ALLL $ 55,098 $ 172 $ 41,660 $ 608 $ 24,326 $ 121,864 General ALLL $ 142,492 $ 4,065 $ 82,840 $ 10,427 $ 111,459 $ 351,283 Loans held-in-portfolio: Impaired non-covered loans $ 338,980 $ 2,020 $ 471,183 $ 2,391 $ 109,920 $ 924,494 Non-covered loans held-in-portfolio excluding impaired loans 7,029,311 103,124 5,628,576 640,751 3,199,171 16,600,933 Total non-covered loans held-in-portfolio $ 7,368,291 $ 105,144 $ 6,099,759 $ 643,142 $ 3,309,091 $ 17,525,427 For the quarter ended March 31, 2016 Puerto Rico - Covered loans (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses: Beginning balance $ - $ - $ 33,967 $ - $ 209 $ 34,176 Provision (reversal of provision) - - (3,149) - 44 (3,105) Charge-offs - - (1,221) - (33) (1,254) Recoveries - - 225 - 3 228 Ending balance $ - $ - $ 29,822 $ - $ 223 $ 30,045 Specific ALLL $ - $ - $ - $ - $ - $ - General ALLL $ - $ - $ 29,822 $ - $ 223 $ 30,045 Loans held-in-portfolio: Impaired covered loans $ - $ - $ - $ - $ - $ - Covered loans held-in-portfolio excluding impaired loans - - 606,711 - 18,419 625,130 Total covered loans held-in-portfolio $ - $ - $ 606,711 $ - $ 18,419 $ 625,130 For the quarter ended March 31, 2016 U.S. Mainland (In thousands) Commercial Construction Mortgage Legacy Consumer Total Allowance for credit losses: Beginning balance $ 9,908 $ 3,912 $ 4,985 $ 2,687 $ 11,520 $ 33,012 Provision (reversal of provision) (116) 827 344 (450) 3,464 4,069 Charge-offs (495) - (441) (109) (2,648) (3,693) Recoveries 290 - 211 356 1,035 1,892 Ending balance $ 9,587 $ 4,739 $ 5,099 $ 2,484 $ 13,371 $ 35,280 Specific ALLL $ - $ - $ 1,592 $ - $ 581 $ 2,173 General ALLL $ 9,587 $ 4,739 $ 3,507 $ 2,484 $ 12,790 $ 33,107 Loans held-in-portfolio: Impaired loans $ - $ - $ 7,909 $ - $ 2,247 $ 10,156 Loans held-in-portfolio excluding impaired loans 2,860,098 629,714 871,533 61,044 549,765 4,972,154 Total loans held-in-portfolio $ 2,860,098 $ 629,714 $ 879,442 $ 61,044 $ 552,012 $ 4,982,310 For the quarter ended March 31, 2016 Popular, Inc. (In thousands) Commercial Construction Mortgage Legacy Leasing Consumer Total Allowance for credit losses: Beginning balance $ 196,833 $ 8,869 $ 167,279 $ 2,687 $ 10,993 $ 150,450 $ 537,111 Provision (reversal of provision) 13,253 418 8,064 (450) 1,680 21,870 44,835 Charge-offs (9,463) (544) (17,634) (109) (2,127) (30,060) (59,937) Recoveries 6,554 233 1,712 356 489 7,119 16,463 Ending balance $ 207,177 $ 8,976 $ 159,421 $ 2,484 $ 11,035 $ 149,379 $ 538,472 Specific ALLL $ 55,098 $ 172 $ 43,252 $ - $ 608 $ 24,907 $ 124,037 General ALLL $ 152,079 $ 8,804 $ 116,169 $ 2,484 $ 10,427 $ 124,472 $ 414,435 Loans held-in-portfolio: Impaired loans $ 338,980 $ 2,020 $ 479,092 $ - $ 2,391 $ 112,167 $ 934,650 Loans held-in-portfolio excluding impaired loans 9,889,409 732,838 7,106,820 61,044 640,751 3,767,355 22,198,217 Total loans held-in-portfolio $ 10,228,389 $ 734,858 $ 7,585,912 $ 61,044 $ 643,142 $ 3,879,522 $ 23,132,867 For the quarter ended March 31, 2015 Puerto Rico - Non-covered loans (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses: Beginning balance $ 201,589 $ 5,483 $ 120,860 $ 7,131 $ 154,072 $ 489,135 Provision (reversal of provision) (1,321) (6,813) 16,192 846 23,009 31,913 Charge-offs (9,572) - (10,973) (1,237) (29,699) (51,481) Recoveries 4,770 2,925 500 468 6,046 14,709 Ending balance $ 195,466 $ 1,595 $ 126,579 $ 7,208 $ 153,428 $ 484,276 Specific ALLL $ 69,946 $ 158 $ 42,229 $ 687 $ 25,223 $ 138,243 General ALLL $ 125,520 $ 1,437 $ 84,350 $ 6,521 $ 128,205 $ 346,033 Loans held-in-portfolio: Impaired non-covered loans $ 417,377 $ 9,838 $ 445,506 $ 2,924 $ 114,416 $ 990,061 Non-covered loans held-in-portfolio excluding impaired loans 5,984,132 88,868 5,725,741 578,195 3,237,790 15,614,726 Total non-covered loans held-in-portfolio $ 6,401,509 $ 98,706 $ 6,171,247 $ 581,119 $ 3,352,206 $ 16,604,787 For the quarter ended March 31, 2015 Puerto Rico - Covered Loans (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses: Beginning balance $ 30,871 $ 7,202 $ 40,948 $ - $ 3,052 $ 82,073 Provision (reversal of provision) 1,995 6,276 2,802 - (749) 10,324 Charge-offs (14,239) (9,046) (3,386) - - (26,671) Recoveries 2,640 3,275 105 - 727 6,747 Ending balance $ 21,267 $ 7,707 $ 40,469 $ - $ 3,030 $ 72,473 Specific ALLL $ 1,473 $ - $ - $ - $ - $ 1,473 General ALLL $ 19,794 $ 7,707 $ 40,469 $ - $ 3,030 $ 71,000 Loans held-in-portfolio: Impaired covered loans $ 8,394 $ 2,336 $ - $ - $ - $ 10,730 Covered loans held-in-portfolio excluding impaired loans 1,562,753 55,489 795,477 - 32,103 2,445,822 Total covered loans held-in-portfolio $ 1,571,147 $ 57,825 $ 795,477 $ - $ 32,103 $ 2,456,552 For the quarter ended March 31, 2015 U.S. Mainland - Continuing Operations (In thousands) Commercial Construction Mortgage Legacy Consumer Total Allowance for credit losses: Beginning balance $ 9,648 $ 1,187 $ 2,462 $ 2,944 $ 14,343 $ 30,584 Provision (reversal of provision) 299 662 (6,127) (1,810) 4,774 (2,202) Charge-offs (450) - (221) (474) (2,518) (3,663) Recoveries 929 - 67 2,302 1,251 4,549 Net recoveries (write-down) - - 6,081 - (3,401) 2,680 Ending balance $ 10,426 $ 1,849 $ 2,262 $ 2,962 $ 14,449 $ 31,948 Specific ALLL $ - $ - $ 341 $ - $ 381 $ 722 General ALLL $ 10,426 $ 1,849 $ 1,921 $ 2,962 $ 14,068 $ 31,226 Loans held-in-portfolio: Impaired loans $ - $ - $ 5,106 $ - $ 2,048 $ 7,154 Loans held-in-portfolio excluding impaired loans 2,252,052 592,022 1,012,874 77,675 466,366 4,400,989 Total loans held-in-portfolio $ 2,252,052 $ 592,022 $ 1,017,980 $ 77,675 $ 468,414 $ 4,408,143 For the quarter ended March 31, 2015 Popular, Inc. (In thousands) Commercial Construction Mortgage Legacy Leasing Consumer Total Allowance for credit losses: Beginning balance $ 242,108 $ 13,872 $ 164,270 $ 2,944 $ 7,131 $ 171,467 $ 601,792 Provision (reversal of provision) 973 125 12,867 (1,810) 846 27,034 40,035 Charge-offs (24,261) (9,046) (14,580) (474) (1,237) (32,217) (81,815) Recoveries 8,339 6,200 672 2,302 468 8,024 26,005 Net recoveries (write-down) - - 6,081 - - (3,401) 2,680 Ending balance $ 227,159 $ 11,151 $ 169,310 $ 2,962 $ 7,208 $ 170,907 $ 588,697 Specific ALLL $ 71,419 $ 158 $ 42,570 $ - $ 687 $ 25,604 $ 140,438 General ALLL $ 155,740 $ 10,993 $ 126,740 $ 2,962 $ 6,521 $ 145,303 $ 448,259 Loans held-in-portfolio: Impaired loans $ 425,771 $ 12,174 $ 450,612 $ - $ 2,924 $ 116,464 $ 1,007,945 Loans held-in-portfolio excluding impaired loans 9,798,937 736,379 7,534,092 77,675 578,195 3,736,259 22,461,537 Total loans held-in-portfolio $ 10,224,708 $ 748,553 $ 7,984,704 $ 77,675 $ 581,119 $ 3,852,723 $ 23,469,482 |
Impaired Financing Receivables Table [Text Block] | March 31, 2016 Puerto Rico Impaired Loans – With an Impaired Loans Allowance With No Allowance Impaired Loans - Total Unpaid Unpaid Unpaid Recorded principal Related Recorded principal Recorded principal Related (In thousands) investment balance allowance investment balance investment balance allowance Commercial real estate non-owner occupied $ 107,706 $ 112,100 $ 37,638 $ 13,636 $ 23,754 $ 121,342 $ 135,854 $ 37,638 Commercial real estate owner occupied 120,121 139,841 10,888 38,763 63,165 158,884 203,006 10,888 Commercial and industrial 39,347 40,849 6,572 19,407 21,525 58,754 62,374 6,572 Construction 2,020 5,472 172 - - 2,020 5,472 172 Mortgage 418,321 460,813 41,660 52,862 62,090 471,183 522,903 41,660 Leasing 2,391 2,391 608 - - 2,391 2,391 608 Consumer: Credit cards 37,778 37,778 5,963 - - 37,778 37,778 5,963 Personal 67,834 67,834 17,517 - - 67,834 67,834 17,517 Auto 3,863 3,863 771 - - 3,863 3,863 771 Other 445 445 75 - - 445 445 75 Total Puerto Rico $ 799,826 $ 871,386 $ 121,864 $ 124,668 $ 170,534 $ 924,494 $ 1,041,920 $ 121,864 March 31, 2016 U.S. mainland Impaired Loans – With an Impaired Loans Allowance With No Allowance Impaired Loans - Total Unpaid Unpaid Unpaid Recorded principal Related Recorded principal Recorded principal Related (In thousands) investment balance allowance investment balance investment balance allowance Mortgage $ 4,774 $ 5,487 $ 1,592 $ 3,135 $ 3,903 $ 7,909 $ 9,390 $ 1,592 Consumer: HELOCs 921 921 352 715 715 1,636 1,636 352 Personal 530 530 229 81 81 611 611 229 Total U.S. mainland $ 6,225 $ 6,938 $ 2,173 $ 3,931 $ 4,699 $ 10,156 $ 11,637 $ 2,173 March 31, 2016 Popular, Inc. Impaired Loans – With an Impaired Loans Allowance With No Allowance Impaired Loans - Total Unpaid Unpaid Unpaid Recorded principal Related Recorded principal Recorded principal Related (In thousands) investment balance allowance investment balance investment balance allowance Commercial real estate non-owner occupied $ 107,706 $ 112,100 $ 37,638 $ 13,636 $ 23,754 $ 121,342 $ 135,854 $ 37,638 Commercial real estate owner occupied 120,121 139,841 10,888 38,763 63,165 158,884 203,006 10,888 Commercial and industrial 39,347 40,849 6,572 19,407 21,525 58,754 62,374 6,572 Construction 2,020 5,472 172 - - 2,020 5,472 172 Mortgage 423,095 466,300 43,252 55,997 65,993 479,092 532,293 43,252 Leasing 2,391 2,391 608 - - 2,391 2,391 608 Consumer: Credit Cards 37,778 37,778 5,963 - - 37,778 37,778 5,963 HELOCs 921 921 352 715 715 1,636 1,636 352 Personal 68,364 68,364 17,746 81 81 68,445 68,445 17,746 Auto 3,863 3,863 771 - - 3,863 3,863 771 Other 445 445 75 - - 445 445 75 Total Popular, Inc. $ 806,051 $ 878,324 $ 124,037 $ 128,599 $ 175,233 $ 934,650 $ 1,053,557 $ 124,037 December 31, 2015 Puerto Rico Impaired Loans – With an Impaired Loans Allowance With No Allowance Impaired Loans - Total Unpaid Unpaid Unpaid Recorded principal Related Recorded principal Recorded principal Related (In thousands) investment balance allowance investment balance investment balance allowance Commercial real estate non-owner occupied $ 102,199 $ 106,466 $ 30,980 $ 13,779 $ 23,896 $ 115,978 $ 130,362 $ 30,980 Commercial real estate owner occupied 118,253 137,193 12,564 38,955 63,383 157,208 200,576 12,564 Commercial and industrial 42,043 43,629 5,699 21,904 32,922 63,947 76,551 5,699 Construction 2,481 7,878 264 - - 2,481 7,878 264 Mortgage 424,885 468,240 42,965 40,232 45,881 465,117 514,121 42,965 Leasing 2,404 2,404 573 - - 2,404 2,404 573 Consumer: Credit cards 38,734 38,734 6,675 - - 38,734 38,734 6,675 Personal 68,509 68,509 16,365 - - 68,509 68,509 16,365 Auto 1,893 1,893 338 - - 1,893 1,893 338 Other 524 525 100 - - 524 525 100 Total Puerto Rico $ 801,925 $ 875,471 $ 116,523 $ 114,870 $ 166,082 $ 916,795 $ 1,041,553 $ 116,523 December 31, 2015 U.S. mainland Impaired Loans – With an Impaired Loans Allowance With No Allowance Impaired Loans - Total Unpaid Unpaid Unpaid Recorded principal Related Recorded principal Recorded principal Related (In thousands) investment balance allowance investment balance investment balance allowance Mortgage $ 4,143 $ 5,018 $ 1,064 $ 2,672 $ 3,574 $ 6,815 $ 8,592 $ 1,064 Consumer: HELOCs 778 796 259 783 783 1,561 1,579 259 Personal 534 534 226 81 81 615 615 226 Total U.S. mainland $ 5,455 $ 6,348 $ 1,549 $ 3,536 $ 4,438 $ 8,991 $ 10,786 $ 1,549 December 31, 2015 Popular, Inc. Impaired Loans – With an Impaired Loans Allowance With No Allowance Impaired Loans - Total Unpaid Unpaid Unpaid Recorded principal Related Recorded principal Recorded principal Related (In thousands) investment balance allowance investment balance investment balance allowance Commercial real estate non-owner occupied $ 102,199 $ 106,466 $ 30,980 $ 13,779 $ 23,896 $ 115,978 $ 130,362 $ 30,980 Commercial real estate owner occupied 118,253 137,193 12,564 38,955 63,383 157,208 200,576 12,564 Commercial and industrial 42,043 43,629 5,699 21,904 32,922 63,947 76,551 5,699 Construction 2,481 7,878 264 - - 2,481 7,878 264 Mortgage 429,028 473,258 44,029 42,904 49,455 471,932 522,713 44,029 Leasing 2,404 2,404 573 - - 2,404 2,404 573 Consumer: Credit Cards 38,734 38,734 6,675 - - 38,734 38,734 6,675 HELOCs 778 796 259 783 783 1,561 1,579 259 Personal 69,043 69,043 16,591 81 81 69,124 69,124 16,591 Auto 1,893 1,893 338 - - 1,893 1,893 338 Other 524 525 100 - - 524 525 100 Total Popular, Inc. $ 807,380 $ 881,819 $ 118,072 $ 118,406 $ 170,520 $ 925,786 $ 1,052,339 $ 118,072 For the quarter ended March 31, 2016 Puerto Rico U.S. Mainland Popular, Inc. Average Interest Average Interest Average Interest recorded income recorded income recorded income (In thousands) investment recognized investment recognized investment recognized Commercial real estate non-owner occupied $ 118,660 $ 1,159 $ - $ - $ 118,660 $ 1,159 Commercial real estate owner occupied 158,046 1,393 - - 158,046 1,393 Commercial and industrial 61,351 516 - - 61,351 516 Construction 2,251 21 - - 2,251 21 Mortgage 468,150 3,387 7,362 - 475,512 3,387 Leasing 2,398 - - - 2,398 - Consumer: Credit cards 38,256 - - - 38,256 - Helocs - - 1,599 - 1,599 - Personal 68,172 - 613 - 68,785 - Auto 2,878 - - - 2,878 - Other 485 - - - 485 - Total Popular, Inc. $ 920,647 $ 6,476 $ 9,574 $ - $ 930,221 $ 6,476 For the quarter ended March 31, 2015 Puerto Rico U.S. Mainland Popular, Inc. Average Interest Average Interest Average Interest recorded income recorded income recorded income (In thousands) investment recognized investment recognized investment recognized Commercial multi-family $ 276 $ - $ - $ - $ 276 $ - Commercial real estate non-owner occupied 88,773 1,140 - - 88,773 1,140 Commercial real estate owner occupied 127,969 2,166 - - 127,969 2,166 Commercial and industrial 170,127 4,432 125 - 170,252 4,432 Construction 11,553 - - - 11,553 - Mortgage 438,538 4,453 4,681 13 443,219 4,466 Leasing 2,974 - - - 2,974 - Consumer: Credit cards 41,337 - - - 41,337 - Helocs - - 1,762 - 1,762 - Personal 71,241 - 206 - 71,447 - Auto 1,984 - - - 1,984 - Other 526 - 44 - 570 - Covered loans 8,818 35 - - 8,818 35 Total Popular, Inc. $ 964,116 $ 12,226 $ 6,818 $ 13 $ 970,934 $ 12,239 |
Troubled Debt Restructurings Loan Count By Type Of Modification Table [Text Block] | Puerto Rico For the quarter ended March 31, 2016 Reduction in interest rate Extension of maturity date Combination of reduction in interest rate and extension of maturity date Other Commercial real estate non-owner occupied 1 1 - - Commercial real estate owner occupied 16 1 - - Commercial and industrial 6 - - - Mortgage 20 10 112 54 Consumer: Credit cards 175 - - 174 Personal 261 5 - - Auto - 2 2 - Other 10 - - - Total 489 19 114 228 U.S. mainland For the quarter ended March 31, 2016 Reduction in interest rate Extension of maturity date Combination of reduction in interest rate and extension of maturity date Other Mortgage - - 11 1 Consumer: HELOCs - - 1 - Total - - 12 1 Popular, Inc. For the quarter ended March 31, 2016 Reduction in interest rate Extension of maturity date Combination of reduction in interest rate and extension of maturity date Other Commercial real estate non-owner occupied 1 1 - - Commercial real estate owner occupied 16 1 - - Commercial and industrial 6 - - - Mortgage 20 10 123 55 Leasing - - - - Consumer: Credit cards 175 - - 174 HELOCs - - 1 - Personal 261 5 - - Auto - 2 2 - Other 10 - - - Total 489 19 126 229 Puerto Rico For the quarter ended March 31, 2015 Reduction in interest rate Extension of maturity date Combination of reduction in interest rate and extension of maturity date Other Commercial multi-family - 2 - - Commercial real estate non-owner occupied 2 1 - - Commercial real estate owner occupied 2 3 - - Commercial and industrial 5 5 - - Construction 1 - - - Mortgage 13 19 98 15 Leasing - 1 12 - Consumer: Credit cards 228 - - 187 Personal 228 14 - - Auto - 2 2 - Other 11 - - - Total 490 47 112 202 U.S. mainland For the quarter ended March 31, 2015 Reduction in interest rate Extension of maturity date Combination of reduction in interest rate and extension of maturity date Other Mortgage - 1 8 - Consumer: HELOCs - - - 1 Total - 1 8 1 Popular, Inc. For the quarter ended March 31, 2015 Reduction in interest rate Extension of maturity date Combination of reduction in interest rate and extension of maturity date Other Commercial multi-family - 2 - - Commercial real estate non-owner occupied 2 1 - - Commercial real estate owner occupied 2 3 - - Commercial and industrial 5 5 - - Construction 1 - - - Mortgage 13 20 106 15 Leasing - 1 12 - Consumer: Credit cards 228 - - 187 HELOCs - - - 1 Personal 228 14 - - Auto - 2 2 - Other 11 - - - Total 490 48 120 203 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Puerto Rico For the quarter ended March 31, 2016 (Dollars in thousands) Loan count Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Increase (decrease) in the allowance for loan losses as a result of modification Commercial real estate non-owner occupied 2 $ 6,323 $ 6,307 $ 4,163 Commercial real estate owner occupied 17 3,095 3,149 136 Commercial and industrial 6 2,529 2,527 5 Mortgage 196 24,405 23,244 1,806 Consumer: Credit cards 349 3,256 3,665 576 Personal 266 4,413 4,411 887 Auto 4 72 76 12 Other 10 23 24 4 Total 850 $ 44,116 $ 43,403 $ 7,589 U.S. Mainland For the quarter ended March 31, 2016 (Dollars in thousands) Loan count Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Increase (decrease) in the allowance for loan losses as a result of modification Mortgage 12 $ 1,167 $ 1,230 $ 423 Consumer: HELOCs 1 147 147 77 Total 13 $ 1,314 $ 1,377 $ 500 Popular, Inc. For the quarter ended March 31, 2016 (Dollars in thousands) Loan count Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Increase (decrease) in the allowance for loan losses as a result of modification Commercial real estate non-owner occupied 2 $ 6,323 $ 6,307 $ 4,163 Commercial real estate owner occupied 17 3,095 3,149 136 Commercial and industrial 6 2,529 2,527 5 Mortgage 208 25,572 24,474 2,229 Consumer: Credit cards 349 3,256 3,665 576 HELOCs 1 147 147 77 Personal 266 4,413 4,411 887 Auto 4 72 76 12 Other 10 23 24 4 Total 863 $ 45,430 $ 44,780 $ 8,089 Puerto Rico For the quarter ended March 31, 2015 (Dollars in thousands) Loan count Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Increase (decrease) in the allowance for loan losses as a result of modification Commercial multi-family 2 $ 551 $ 551 $ 2 Commercial real estate non-owner occupied 3 18,000 17,998 2,986 Commercial real estate owner occupied 5 4,759 4,552 171 Commercial and industrial 10 5,534 5,889 224 Construction 1 268 259 (166) Mortgage 145 15,902 16,766 1,339 Leasing 13 323 325 73 Consumer: Credit cards 415 3,617 4,066 629 Personal 242 4,502 4,500 967 Auto 4 - 51 8 Other 11 29 29 5 Total 851 $ 53,485 $ 54,986 $ 6,238 U.S. Mainland For the quarter ended March 31, 2015 (Dollars in thousands) Loan count Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Increase (decrease) in the allowance for loan losses as a result of modification Mortgage 9 $ 468 $ 1,465 $ 82 Consumer: HELOCs 1 - 92 9 Total 10 $ 468 $ 1,557 $ 91 Popular, Inc. For the quarter ended March 31, 2015 (Dollars in thousands) Loan count Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Increase (decrease) in the allowance for loan losses as a result of modification Commercial multi-family 2 $ 551 $ 551 $ 2 Commercial real estate non-owner occupied 3 18,000 17,998 2,986 Commercial real estate owner occupied 5 4,759 4,552 171 Commercial and industrial 10 5,534 5,889 224 Construction 1 268 259 (166) Mortgage 154 16,370 18,231 1,421 Leasing 13 323 325 73 Consumer: Credit cards 415 3,617 4,066 629 HELOCs 1 - 92 9 Personal 242 4,502 4,500 967 Auto 4 - 51 8 Other 11 29 29 5 Total 861 $ 53,953 $ 56,543 $ 6,329 |
T D R Loans Subsequent Default Table [Text Block] | Puerto Rico Defaulted during the quarter ended March 31, 2016 (Dollars in thousands) Loan count Recorded investment as of first default date Commercial real estate non-owner occupied 2 $ 327 Commercial real estate owner occupied 6 2,456 Mortgage 27 3,235 Consumer: Credit cards 106 1,122 Personal 43 1,139 Auto 1 17 Other 1 4 Total [1] 186 $ 8,300 [1] Excludes loans for which the Corporation has entered into liquidation agreements with borrowers and guarantors and is accepting payments which differ from the contractual payment schedule. The Corporation considers these as defaulted loans and does not intent to return them to accrual status. Popular, Inc. Defaulted during the quarter ended March 31, 2016 (Dollars In thousands) Loan count Recorded investment as of first default date Commercial real estate non-owner occupied 2 $ 327 Commercial real estate owner occupied 6 2,456 Mortgage 27 3,235 Consumer: Credit cards 106 1,122 Personal 43 1,139 Auto 1 17 Other 1 4 Total 186 $ 8,300 Puerto Rico Defaulted during the quarter ended March 31, 2015 (Dollars In thousands) Loan count Recorded investment as of first default date Commercial real estate owner occupied 1 $ 291 Commercial and industrial 1 90 Construction 2 1,192 Mortgage 22 1,695 Consumer: Credit cards 153 1,792 Personal 22 178 Auto 5 96 Other 2 2 Total [1] 208 $ 5,336 [1] Exclude loans for which the Corporation has entered into liquidation agreements with borrowers and guarantors and is accepting payments which differ from the contractual payment schedule. The Corporation considers these as defaulted loans and does not intent to return them to accrual status. Popular, Inc. Defaulted during the quarter ended March 31, 2015 (Dollars In thousands) Loan count Recorded investment as of first default date Commercial real estate owner occupied 1 $ 291 Commercial and industrial 1 90 Construction 2 1,192 Mortgage 22 1,695 Consumer: Credit cards 153 1,792 Personal 22 178 Auto 5 96 Other 2 2 Total 208 $ 5,336 |
Financing Receivable Credit Quality Indicators Table Text Block | March 31, 2016 Special Pass/ (In thousands) Watch Mention Substandard Doubtful Loss Sub-total Unrated Total Puerto Rico [1] Commercial multi-family $ 2,899 $ 1,021 $ 6,917 $ - $ - $ 10,837 $ 163,814 $ 174,651 Commercial real estate non-owner occupied 320,015 417,911 389,243 - - 1,127,169 1,532,284 2,659,453 Commercial real estate owner occupied 355,306 145,492 431,370 2,056 - 934,224 933,565 1,867,789 Commercial and industrial 174,205 135,002 247,095 635 45 556,982 2,109,416 2,666,398 Total Commercial 852,425 699,426 1,074,625 2,691 45 2,629,212 4,739,079 7,368,291 Construction 4,015 6,028 18,165 - - 28,208 76,936 105,144 Mortgage 4,566 3,337 218,542 - - 226,445 5,873,314 6,099,759 Leasing - - 3,399 - 20 3,419 639,723 643,142 Consumer: Credit cards - - 18,864 - - 18,864 1,079,919 1,098,783 HELOCs - - 280 - - 280 9,349 9,629 Personal 1,668 1,066 21,013 - - 23,747 1,167,643 1,191,390 Auto - - 10,811 - 33 10,844 815,461 826,305 Other - - 18,727 - 440 19,167 163,817 182,984 Total Consumer 1,668 1,066 69,695 - 473 72,902 3,236,189 3,309,091 Total Puerto Rico $ 862,674 $ 709,857 $ 1,384,426 $ 2,691 $ 538 $ 2,960,186 $ 14,565,241 $ 17,525,427 U.S. mainland Commercial multi-family $ 12,264 $ 7,147 $ 985 $ - $ - $ 20,396 $ 742,158 $ 762,554 Commercial real estate non-owner occupied 38,732 4,054 25,414 - - 68,200 922,448 990,648 Commercial real estate owner occupied 7,386 204 3,882 - - 11,472 212,329 223,801 Commercial and industrial 9,671 3,759 131,844 - - 145,274 737,821 883,095 Total Commercial 68,053 15,164 162,125 - - 245,342 2,614,756 2,860,098 Construction - 32,041 22,456 - - 54,497 575,217 629,714 Mortgage - - 12,068 - - 12,068 867,374 879,442 Legacy 1,678 1,186 6,200 - - 9,064 51,980 61,044 Consumer: Credit cards - - 382 - - 382 12,636 13,018 HELOCs - - 2,013 - 2,296 4,309 289,951 294,260 Personal - - 689 - 740 1,429 242,985 244,414 Auto - - 6 - - 6 18 24 Other - - - - 10 10 286 296 Total Consumer - - 3,090 - 3,046 6,136 545,876 552,012 Total U.S. mainland $ 69,731 $ 48,391 $ 205,939 $ - $ 3,046 $ 327,107 $ 4,655,203 $ 4,982,310 Popular, Inc. Commercial multi-family $ 15,163 $ 8,168 $ 7,902 $ - $ - $ 31,233 $ 905,972 $ 937,205 Commercial real estate non-owner occupied 358,747 421,965 414,657 - - 1,195,369 2,454,732 3,650,101 Commercial real estate owner occupied 362,692 145,696 435,252 2,056 - 945,696 1,145,894 2,091,590 Commercial and industrial 183,876 138,761 378,939 635 45 702,256 2,847,237 3,549,493 Total Commercial 920,478 714,590 1,236,750 2,691 45 2,874,554 7,353,835 10,228,389 Construction 4,015 38,069 40,621 - - 82,705 652,153 734,858 Mortgage 4,566 3,337 230,610 - - 238,513 6,740,688 6,979,201 Legacy 1,678 1,186 6,200 - - 9,064 51,980 61,044 Leasing - - 3,399 - 20 3,419 639,723 643,142 Consumer: Credit cards - - 19,246 - - 19,246 1,092,555 1,111,801 HELOCs - - 2,293 - 2,296 4,589 299,300 303,889 Personal 1,668 1,066 21,702 - 740 25,176 1,410,628 1,435,804 Auto - - 10,817 - 33 10,850 815,479 826,329 Other - - 18,727 - 450 19,177 164,103 183,280 Total Consumer 1,668 1,066 72,785 - 3,519 79,038 3,782,065 3,861,103 Total Popular, Inc. $ 932,405 $ 758,248 $ 1,590,365 $ 2,691 $ 3,584 $ 3,287,293 $ 19,220,444 $ 22,507,737 The following table presents the weighted average obligor risk rating at March 31, 2016 for those classifications that consider a range of rating scales. Weighted average obligor risk rating (Scales 11 and 12) (Scales 1 through 8) Puerto Rico: [1] Substandard Pass Commercial multi-family 11.17 6.04 Commercial real estate non-owner occupied 11.08 6.67 Commercial real estate owner occupied 11.25 7.05 Commercial and industrial 11.14 7.10 Total Commercial 11.16 6.93 Construction 11.18 7.50 U.S. mainland: Substandard Pass Commercial multi-family 11.25 7.15 Commercial real estate non-owner occupied 11.44 6.98 Commercial real estate owner occupied 11.05 6.94 Commercial and industrial 11.63 6.16 Total Commercial 11.59 6.80 Construction 11.03 7.76 Legacy 11.18 7.78 December 31, 2015 Special Pass/ (In thousands) Watch Mention Substandard Doubtful Loss Sub-total Unrated Total Puerto Rico [1] Commercial multi-family $ 1,750 $ 1,280 $ 8,103 $ - $ - $ 11,133 $ 121,013 $ 132,146 Commercial real estate non-owner occupied 319,564 423,095 399,076 - - 1,141,735 1,527,357 2,669,092 Commercial real estate owner occupied 316,079 162,395 436,442 1,915 - 916,831 992,413 1,909,244 Commercial and industrial 187,620 146,216 256,821 690 29 591,376 2,066,361 2,657,737 Total Commercial 825,013 732,986 1,100,442 2,605 29 2,661,075 4,707,144 7,368,219 Construction 7,269 5,522 19,806 - - 32,597 68,351 100,948 Mortgage 4,810 2,794 238,002 - - 245,606 5,881,885 6,127,491 Leasing - - 3,009 - - 3,009 624,641 627,650 Consumer: Credit cards - - 19,098 - - 19,098 1,109,247 1,128,345 HELOCs - - 394 - - 394 10,294 10,688 Personal 1,606 1,448 23,116 - - 26,170 1,176,665 1,202,835 Auto - - 11,609 - 30 11,639 804,311 815,950 Other - - 18,656 - 575 19,231 169,253 188,484 Total Consumer 1,606 1,448 72,873 - 605 76,532 3,269,770 3,346,302 Total Puerto Rico $ 838,698 $ 742,750 $ 1,434,132 $ 2,605 $ 634 $ 3,018,819 $ 14,551,791 $ 17,570,610 U.S. mainland Commercial multi-family $ 14,129 $ 7,189 $ 427 $ - $ - $ 21,745 $ 672,188 $ 693,933 Commercial real estate non-owner occupied 57,450 6,741 16,646 - - 80,837 882,186 963,023 Commercial real estate owner occupied 11,978 1,074 2,967 - - 16,019 186,325 202,344 Commercial and industrial 10,827 5,344 131,933 - - 148,104 723,540 871,644 Total Commercial 94,384 20,348 151,973 - - 266,705 2,464,239 2,730,944 Construction 15,091 16,948 18,856 - - 50,895 529,263 580,158 Mortgage - - 13,537 - - 13,537 895,053 908,590 Legacy 1,823 1,973 6,134 - - 9,930 54,506 64,436 Consumer: Credit cards - - - - - - 13,935 13,935 HELOCs - - 1,550 - 2,626 4,176 300,308 304,484 Personal - - 637 - 603 1,240 171,386 172,626 Auto - - - - - - 28 28 Other - - - - 5 5 299 304 Total Consumer - - 2,187 - 3,234 5,421 485,956 491,377 Total U.S. mainland $ 111,298 $ 39,269 $ 192,687 $ - $ 3,234 $ 346,488 $ 4,429,017 $ 4,775,505 Popular, Inc. Commercial multi-family $ 15,879 $ 8,469 $ 8,530 $ - $ - $ 32,878 $ 793,201 $ 826,079 Commercial real estate non-owner occupied 377,014 429,836 415,722 - - 1,222,572 2,409,543 3,632,115 Commercial real estate owner occupied 328,057 163,469 439,409 1,915 - 932,850 1,178,738 2,111,588 Commercial and industrial 198,447 151,560 388,754 690 29 739,480 2,789,901 3,529,381 Total Commercial 919,397 753,334 1,252,415 2,605 29 2,927,780 7,171,383 10,099,163 Construction 22,360 22,470 38,662 - - 83,492 597,614 681,106 Mortgage 4,810 2,794 251,539 - - 259,143 6,776,938 7,036,081 Legacy 1,823 1,973 6,134 - - 9,930 54,506 64,436 Leasing - - 3,009 - - 3,009 624,641 627,650 Consumer: Credit cards - - 19,098 - - 19,098 1,123,182 1,142,280 HELOCs - - 1,944 - 2,626 4,570 310,602 315,172 Personal 1,606 1,448 23,753 - 603 27,410 1,348,051 1,375,461 Auto - - 11,609 - 30 11,639 804,339 815,978 Other - - 18,656 - 580 19,236 169,552 188,788 Total Consumer 1,606 1,448 75,060 - 3,839 81,953 3,755,726 3,837,679 Total Popular, Inc. $ 949,996 $ 782,019 $ 1,626,819 $ 2,605 $ 3,868 $ 3,365,307 $ 18,980,808 $ 22,346,115 The following table presents the weighted average obligor risk rating at December 31, 2015 for those classifications that consider a range of rating scales. Weighted average obligor risk rating (Scales 11 and 12) (Scales 1 through 8) Puerto Rico: [1] Substandard Pass Commercial multi-family 11.13 6.04 Commercial real estate non-owner occupied 11.09 6.67 Commercial real estate owner occupied 11.23 7.08 Commercial and industrial 11.15 7.13 Total Commercial 11.16 6.95 Construction 11.18 7.56 U.S. mainland: Substandard Pass Commercial multi-family 11.00 7.15 Commercial real estate non-owner occupied 11.02 6.92 Commercial real estate owner occupied 11.07 7.23 Commercial and industrial 11.57 6.24 Total Commercial 11.50 6.81 Construction 11.00 7.79 Legacy 11.11 7.78 |
Non Covered Loans | |
Schedule Of Breakdown Between Accrual And Nonaccrual Status Of Troubled Debt Restructurings [Table Text Block] | Popular, Inc. Non-Covered Loans March 31, 2016 December 31, 2015 (In thousands) Accruing Non-Accruing Total Related Allowance Accruing Non-Accruing Total Related Allowance Commercial $ 170,534 $ 87,841 $ 258,375 $ 47,571 $ 166,415 $ 88,117 $ 254,532 $ 37,355 Construction 194 1,826 2,020 172 221 2,259 2,480 264 Mortgage 679,719 120,694 800,413 43,252 644,013 130,483 774,496 44,029 Leases 1,749 642 2,391 608 1,791 609 2,400 573 Consumer 104,133 12,576 116,709 24,907 104,630 12,805 117,435 23,963 Total $ 956,329 $ 223,579 $ 1,179,908 $ 116,510 $ 917,070 $ 234,273 $ 1,151,343 $ 106,184 |
Covered loans | |
Schedule Of Breakdown Between Accrual And Nonaccrual Status Of Troubled Debt Restructurings [Table Text Block] | Popular, Inc. Covered Loans March 31, 2016 December 31, 2015 (In thousands) Accruing Non-Accruing Total Related Allowance Accruing Non-Accruing Total Related Allowance Mortgage $ 2,958 $ 2,500 $ 5,458 $ - $ 3,328 $ 3,268 $ 6,596 $ - Total $ 2,958 $ 2,500 $ 5,458 $ - $ 3,328 $ 3,268 $ 6,596 $ - |
FDIC loss share asset and tru51
FDIC loss share asset and true up payment obligation (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
FDIC Indemnification Asset Roll Forward [Table Text Block] | Quarters ended March 31, (In thousands) 2016 2015 Balance at beginning of period $ 310,221 $ 542,454 Amortization of loss share indemnification asset (4,042) (27,316) Credit impairment losses (reversal) to be covered under loss-sharing agreements (2,093) 8,246 Reimbursable expenses 3,950 21,545 Net payments from FDIC under loss-sharing agreements (88,588) (132,265) Other adjustments attributable to FDIC loss-sharing agreements - (2,820) Balance at end of period $ 219,448 $ 409,844 |
FDIC | |
Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block] | (In thousands) March 31, 2016 December 31, 2015 Carrying amount (fair value) $ 120,188 $ 119,745 Undiscounted amount $ 168,525 $ 168,692 |
Mortgage banking activities (Ta
Mortgage banking activities (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Table Text Block | |
Mortgage Banking Activities [Table Text Block] | Quarters ended March 31, (In thousands) 2016 2015 Mortgage servicing fees, net of fair value adjustments: Mortgage servicing fees $ 14,802 $ 12,248 Mortgage servicing rights fair value adjustments (8,477) (4,929) Total mortgage servicing fees, net of fair value adjustments 6,325 7,319 Net gain on sale of loans, including valuation on loans 7,110 7,280 Trading account (loss): Unrealized (losses) gains on outstanding derivative positions (80) 17 Realized losses on closed derivative positions (2,804) (1,764) Total trading account loss (2,884) (1,747) Total mortgage banking activities $ 10,551 $ 12,852 |
Transfers of financial assets53
Transfers of financial assets and mortgage servicing assets (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Schedule Of Securitizations Of Financial Assets Accounted For As Sale [Text Block] | Proceeds Obtained During the Quarter Ended March 31, 2016 (In thousands) Level 1 Level 2 Level 3 Initial Fair Value Assets Trading account securities: Mortgage-backed securities - GNMA $ - $ 134,012 $ - $ 134,012 Mortgage-backed securities - FNMA - 36,236 - 36,236 Total trading account securities $ - $ 170,248 $ - $ 170,248 Mortgage servicing rights $ - $ - $ 1,870 $ 1,870 Total $ - $ 170,248 $ 1,870 $ 172,118 Proceeds Obtained During the Quarter Ended March 31, 2015 (In thousands) Level 1 Level 2 Level 3 Initial Fair Value Assets Trading account securities: Mortgage-backed securities - GNMA $ - $ 156,456 $ - $ 156,456 Mortgage-backed securities - FNMA - 46,958 - 46,958 Total trading account securities $ - $ 203,414 $ - $ 203,414 Mortgage servicing rights $ - $ - $ 2,562 $ 2,562 Total $ - $ 203,414 $ 2,562 $ 205,976 |
Schedule Of Servicing Assets At Fair Value Text Block | Residential MSRs (In thousands) March 31, 2016 March 31, 2015 Fair value at beginning of period $ 211,405 $ 148,694 Additions 2,123 5,259 Changes due to payments on loans [1] (4,254) (3,789) Reduction due to loan repurchases (357) (456) Changes in fair value due to changes in valuation model inputs or assumptions (3,866) (684) Fair value at end of period $ 205,051 $ 149,024 [1] Represents changes due to collection / realization of expected cash flows over time. |
Schedule Of Assumptions For Fair Value On Securitization Date Of Interests Continued To Be Held By Transferor Servicing Assets Or Servicing Liabilities Text Block | Quarters ended March 31, 2016 March 31, 2015 Prepayment speed 5.4 % 7.3 % Weighted average life 10.0 years 13.7 years Discount rate (annual rate) 11.1 % 10.9 % |
Originated MSRs | |
Schedule of Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets | Originated MSRs (In thousands) March 31, 2016 December 31, 2015 Fair value of servicing rights $ 95,043 $ 98,648 Weighted average life 7.3 years 7.3 years Weighted average prepayment speed (annual rate) 6.0 % 6.0 % Impact on fair value of 10% adverse change $ (2,376) $ (2,488) Impact on fair value of 20% adverse change $ (4,982) $ (5,241) Weighted average discount rate (annual rate) 11.5 % 11.5 % Impact on fair value of 10% adverse change $ (3,853) $ (4,083) Impact on fair value of 20% adverse change $ (7,723) $ (8,206) |
Purchased MSRs | |
Schedule of Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets | Purchased MSRs (In thousands) March 31, 2016 December 31, 2015 Fair value of servicing rights $ 110,008 $ 112,757 Weighted average life 6.2 years 6.2 years Weighted average prepayment speed (annual rate) 6.7 % 6.9 % Impact on fair value of 10% adverse change $ (2,795) $ (2,871) Impact on fair value of 20% adverse change $ (5,842) $ (6,034) Weighted average discount rate (annual rate) 11.0 % 11.0 % Impact on fair value of 10% adverse change $ (4,077) $ (4,211) Impact on fair value of 20% adverse change $ (8,221) $ (8,525) |
Other Real Estate Owned (Tables
Other Real Estate Owned (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Other Real Estate | |
Other Real Estate Owned Roll Forward [Table Text Block] | For the quarter ended March 31, 2016 Non-covered Non-covered Covered OREO OREO OREO (In thousands) Commercial/ Construction Mortgage Mortgage Total Balance at beginning of period $ 32,471 $ 122,760 $ 36,685 $ 191,916 Write-downs in value (1,717) (2,016) (500) (4,233) Additions 1,810 24,276 4,483 30,569 Sales (1,595) (8,500) (3,649) (13,744) Other adjustments (615) (914) (622) (2,151) Ending balance $ 30,354 $ 135,606 $ 36,397 $ 202,357 For the quarter ended March 31, 2015 Non-covered Non-covered Covered Covered OREO OREO OREO OREO (In thousands) Commercial/ Construction Mortgage Commercial/ Construction Mortgage Total Balance at beginning of period $ 38,983 $ 96,517 $ 85,394 $ 44,872 $ 265,766 Write-downs in value (5,887) (1,372) (9,395) (1,282) (17,936) Additions 2,035 21,075 4,038 5,381 32,529 Sales (9,427) (13,086) (9,464) (5,822) (37,799) Other adjustments (96) (572) - (165) (833) Ending balance $ 25,608 $ 102,562 $ 70,573 $ 42,984 $ 241,727 |
Other assets (Tables)
Other assets (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Other Assets Abstract | |
Schedule Of Other Assets Table Text Block | (In thousands) March 31, 2016 December 31, 2015 Net deferred tax assets (net of valuation allowance) $ 1,275,017 $ 1,302,452 Investments under the equity method 216,076 212,838 Prepaid taxes 174,558 180,969 Other prepaid expenses 81,300 79,215 Derivative assets 15,012 16,959 Trades receivable from brokers and counterparties 87,590 78,759 Others 306,477 321,970 Total other assets $ 2,156,030 $ 2,193,162 |
Goodwill and other intangible56
Goodwill and other intangible assets (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Goodwill and Intangible Assets Disclosure | |
Carrying Amount of Goodwill by Reportable Segments and Corporate Group | 2016 Purchase Balance at Goodwill on accounting Balance at (In thousands) January 1, 2016 acquisition adjustments March 31,2016 Banco Popular de Puerto Rico $ 280,221 $ - $ - $ 280,221 Banco Popular North America 346,167 - 4,707 350,874 Total Popular, Inc. $ 626,388 $ - $ 4,707 $ 631,095 2015 Purchase Balance at Goodwill on accounting Balance at (In thousands) January 1, 2015 acquisition adjustments March 31, 2015 Banco Popular de Puerto Rico $ 250,109 $ 3,899 $ - $ 254,008 Banco Popular North America 215,567 38,735 - 254,302 Total Popular, Inc. $ 465,676 $ 42,634 $ - $ 508,310 March 31, 2016 Balance at Balance at Balance at Balance at January 1, Accumulated January 1, March 31, Accumulated March 31, 2016 impairment 2016 2016 impairment 2016 (In thousands) (gross amounts) losses (net amounts) (gross amounts) losses (net amounts) Banco Popular de Puerto Rico $ 280,221 $ - $ 280,221 $ 280,221 $ - $ 280,221 Banco Popular North America 510,578 164,411 346,167 515,285 164,411 350,874 Total Popular, Inc. $ 790,799 $ 164,411 $ 626,388 $ 795,506 $ 164,411 $ 631,095 December 31, 2015 Balance at Balance at Balance at Balance at January 1, Accumulated January 1, December 31, Accumulated December 31, 2015 impairment 2015 2015 impairment 2015 (In thousands) (gross amounts) losses (net amounts) (gross amounts) losses (net amounts) Banco Popular de Puerto Rico $ 250,109 $ - $ 250,109 $ 280,221 $ - $ 280,221 Banco Popular North America 379,978 164,411 215,567 510,578 164,411 346,167 Total Popular, Inc. $ 630,087 $ 164,411 $ 465,676 $ 790,799 $ 164,411 $ 626,388 |
Schedule Of Finite Lived Intangible Assets By Major Class Text Block | Gross Net Carrying Accumulated Carrying (In thousands) Amount Amortization Value March 31, 2016 Core deposits $ 63,539 $ 40,132 $ 23,407 Other customer relationships 36,786 12,227 24,559 Total other intangible assets $ 100,325 $ 52,359 $ 47,966 December 31, 2015 Core deposits $ 63,539 $ 38,464 $ 25,075 Other customer relationships 37,665 10,745 26,920 Total other intangible assets $ 101,204 $ 49,209 $ 51,995 |
Schedule Of Expected Amortization Expense Table Text Block | (In thousands) Remaining 2016 $ 9,030 Year 2017 9,378 Year 2018 9,286 Year 2019 9,042 Year 2020 4,967 Year 2021 2,157 |
Deposits (Tables)
Deposits (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Table Text Block | |
Interest Bearing Deposits Table [Text Block] | (In thousands) March 31, 2016 December 31, 2015 Savings accounts $ 7,307,272 $ 7,010,391 NOW, money market and other interest bearing demand deposits 5,957,465 5,632,449 Total savings, NOW, money market and other interest bearing demand deposits 13,264,737 12,642,840 Certificates of deposit: Under $100,000 3,798,028 4,014,359 $100,000 and over 4,079,735 4,151,009 Total certificates of deposit 7,877,763 8,165,368 Total interest bearing deposits $ 21,142,500 $ 20,808,208 |
Summary Of Certificates Of Deposit By Maturity Disclosures Table [Text Block] | (In thousands) 2016 $ 3,780,813 2017 1,452,245 2018 800,872 2019 517,844 2020 974,612 2021 and thereafter 351,377 Total certificates of deposit $ 7,877,763 |
Borrowings (Tables)
Borrowings (Tables) - Debt Instrument [Domain] | 3 Months Ended |
Mar. 31, 2016 | |
Schedule Of Fed Funds Purchased And Assets Sold Under Agreements To Repurchase Table [Text Block] | (In thousands) March 31, 2016 December 31, 2015 Federal funds purchased $ 50,000 $ 50,000 Assets sold under agreements to repurchase 710,154 712,145 Total federal funds purchased and assets sold under agreements to repurchase $ 760,154 $ 762,145 |
Schedule of Repurchase Agreements [Table Text Block] | March 31, 2016 December 31, 2015 Repurchase Repurchase (In thousands) liability liability Obligations of U.S. government sponsored entities Within 30 days $ 87,809 $ 243,708 After 30 to 90 days 54,361 - After 90 days 192,238 23,366 Total obligations of U.S. government sponsored entities 334,408 267,074 Mortgage-backed securities Within 30 days 28,340 124,878 After 30 to 90 days 57,224 154,582 After 90 days 264,321 142,441 Total mortgage-backed securities 349,885 421,901 Collateralized mortgage obligations Within 30 days 10,458 10,298 After 30 to 90 days - 12,872 After 90 days 15,403 - Total collateralized mortgage obligations 25,861 23,170 Total $ 710,154 $ 712,145 |
Schedule of Short-term Debt [Table Text Block] | (In thousands) March 31, 2016 December 31, 2015 Securities sold not yet purchased $ 5,170 $ - Others 1,200 1,200 Total other short-term borrowings $ 6,370 $ 1,200 Note: Refer to the Corporation's 2015 Form 10-K for rates information at December 31, 2015. |
Schedule of Notes Payable [Table Text Block] | (In thousands) March 31, 2016 December 31, 2015 Advances with the FHLB with maturities ranging from 2016 through 2029 paying interest at monthly fixed rates ranging from 0.71% to 4.19 % (2015 - 0.45% to 4.19%) $ 638,848 $ 747,072 Advances with the FHLB maturing on 2019 paying interest monthly at a floating rate of 0.34% over the 1 month LIBOR 13,000 - Advances with the FHLB with maturities ranging from 2017 through 2019 paying interest quarterly at a floating rate from 0.01% to 0.24% over the 3 month LIBOR 30,313 14,429 Unsecured senior debt securities maturing on 2019 paying interest semiannually at a fixed rate of 7.00%, net of debt issuance costs of $6,775 (2015 - $7,296) 443,225 442,704 Junior subordinated deferrable interest debentures (related to trust preferred securities) with maturities ranging from 2027 to 2034 with fixed interest rates ranging from 6.125% to 8.327%, net of debt issuance costs of $497 (2015 - $505) 439,303 439,295 Others 18,779 19,008 Total notes payable $ 1,583,468 $ 1,662,508 |
Maturity Distribution Of Debt Securities [Text Block] | Fed funds purchased and assets sold under Short-term (In thousands) agreements to repurchase borrowings Notes payable Total Year 2016 $ 760,154 $ 6,370 $ 145,402 $ 911,926 2017 - - 90,939 90,939 2018 - - 144,503 144,503 2019 - - 551,314 551,314 2020 - - 92,529 92,529 Later years - - 558,781 558,781 Total borrowings $ 760,154 $ 6,370 $ 1,583,468 $ 2,349,992 |
Offsetting of financial asset59
Offsetting of financial assets and liabilities (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Table Text Block | |
Offsetting Assets Table [Text Block] | As of March 31, 2016 Gross Amounts Not Offset in the Statement of Financial Position (In thousands) Gross Amount of Recognized Assets Gross Amounts Offset in the Statement of Financial Position Net Amounts of Assets Presented in the Statement of Financial Position Financial Instruments Securities Collateral Received Cash Collateral Received Net Amount Derivatives $ 15,012 $ - $ 15,012 $ 35 $ - $ - $ 14,977 Reverse repurchase agreements 97,830 - 97,830 - 97,830 - - Total $ 112,842 $ - $ 112,842 $ 35 $ 97,830 $ - $ 14,977 As of December 31, 2015 Gross Amounts Not Offset in the Statement of Financial Position (In thousands) Gross Amount of Recognized Assets Gross Amounts Offset in the Statement of Financial Position Net Amounts of Assets Presented in the Statement of Financial Position Financial Instruments Securities Collateral Received Cash Collateral Received Net Amount Derivatives $ 16,959 $ - $ 16,959 $ 114 $ - $ - $ 16,845 Reverse repurchase agreements 96,338 - 96,338 - 96,338 - - Total $ 113,297 $ - $ 113,297 $ 114 $ 96,338 $ - $ 16,845 |
Offsetting Liabilities Table [Text Block] | As of March 31, 2016 Gross Amounts Not Offset in the Statement of Financial Position (In thousands) Gross Amount of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Position Net Amounts of Liabilities Presented in the Statement of Financial Position Financial Instruments Securities Collateral Pledged Cash Collateral Pledged Net Amount Derivatives $ 12,068 $ - $ 12,068 $ 35 $ 3,153 $ - $ 8,880 Repurchase agreements 710,154 - 710,154 - 710,154 - - Total $ 722,222 $ - $ 722,222 $ 35 $ 713,307 $ - $ 8,880 As of December 31, 2015 Gross Amounts Not Offset in the Statement of Financial Position (In thousands) Gross Amount of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Position Net Amounts of Liabilities Presented in the Statement of Financial Position Financial Instruments Securities Collateral Pledged Cash Collateral Received Net Amount Derivatives $ 14,343 $ - $ 14,343 $ 114 $ 4,050 $ - $ 10,179 Repurchase agreements 712,145 - 712,145 - 712,145 - - Total $ 726,488 $ - $ 726,488 $ 114 $ 716,195 $ - $ 10,179 |
Other comprehensive income (l60
Other comprehensive income (loss) (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Table Text Block | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Changes in Accumulated Other Comprehensive Loss by Component [1] Quarters ended March 31, (In thousands) 2016 2015 Foreign currency translation Beginning Balance $ (35,930) $ (32,832) Other comprehensive loss before reclassifications (705) (581) Amounts reclassified from accumulated other comprehensive loss - - Net change (705) (581) Ending balance $ (36,635) $ (33,413) Adjustment of pension and postretirement benefit plans Beginning Balance $ (211,276) $ (205,187) Amounts reclassified from accumulated other comprehensive loss for amortization of net losses 3,346 3,065 Amounts reclassified from accumulated other comprehensive loss for amortization of prior service cost (580) (579) Net change 2,766 2,486 Ending balance $ (208,510) $ (202,701) Unrealized net holding gains on investments Beginning Balance $ (9,560) $ 8,465 Other comprehensive income before reclassifications 73,351 34,285 Net change 73,351 34,285 Ending balance $ 63,791 $ 42,750 Unrealized net losses on cash flow hedges Beginning Balance $ (120) $ (318) Other comprehensive loss before reclassifications (1,219) (1,546) Amounts reclassified from other accumulated other comprehensive loss 943 828 Net change (276) (718) Ending balance $ (396) $ (1,036) Total $ (181,750) $ (194,400) [1] All amounts presented are net of tax. |
Reclassification Out Of Accumulated Other Comprehensive Income [Table Text Block] | Reclassifications Out of Accumulated Other Comprehensive Loss Affected Line Item in the Quarters ended March 31, (In thousands) Consolidated Statements of Operations 2016 2015 Adjustment of pension and postretirement benefit plans Amortization of net losses Personnel costs $ (5,486) $ (5,025) Amortization of prior service cost Personnel costs 950 950 Total before tax (4,536) (4,075) Income tax benefit 1,770 1,589 Total net of tax $ (2,766) $ (2,486) Unrealized net losses on cash flow hedges Forward contracts Mortgage banking activities $ (1,545) $ (1,358) Total before tax (1,545) (1,358) Income tax benefit 602 530 Total net of tax $ (943) $ (828) Total reclassification adjustments, net of tax $ (3,709) $ (3,314) |
Guarantees (Tables)
Guarantees (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Guarantee on loans sold or serviced with credit recourse | |
Credit Recourse Agreements Reserve Table [Text Block] | March 31, (In thousands) 2016 2015 Balance as of beginning of period $ 58,663 $ 59,438 Provision for recourse liability 3,920 6,500 Net charge-offs (4,589) (6,553) Balance as of end of period $ 57,994 $ 59,385 |
Banco Popular de Puerto Rico | Guarantee on loans sold or serviced with representation and warranties | |
Indemnifications and Representations and Warranties Table [Text Block] | (In thousands) 2016 2015 Balance as of beginning of period $ 8,087 $ 15,959 Provision (reversal) for representation and warranties 106 (1,901) Net charge-offs (191) (14) Balance as of end of period $ 8,002 $ 14,044 |
Commitments and contingencies (
Commitments and contingencies (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Commitments and Contingencies Disclosure | |
Schedule Of Fair Value Off Balance Sheet Risks Text Block | (In thousands) March 31, 2016 December 31, 2015 Commitments to extend credit: Credit card lines $ 4,562,439 $ 4,552,331 Commercial and construction lines of credit 2,711,061 2,619,092 Other consumer unused credit commitments 259,134 262,685 Commercial letters of credit 1,560 2,040 Standby letters of credit 36,252 49,670 Commitments to originate or fund mortgage loans 25,079 21,311 |
Schedule Of Direct Exposure To The Puerto Rico Government By Maturity [Text Block] | (In thousands) Investment Portfolio Loans Total Outstanding Total Exposure Central Government Within 1 year $- $- $- $50,794 After 1 to 5 years 887 - 887 887 After 5 to 10 years 3,044 - 3,044 3,044 After 10 years 13,688 - 13,688 13,688 Total Central Government 17,619 - 17,619 68,413 Government Development Bank (GDB) Within 1 year 3 - 3 3 After 1 to 5 years 1,092 - 1,092 1,092 After 5 to 10 years 360 - 360 360 Total Government Development Bank (GDB) 1,455 - 1,455 1,455 Public Corporations: Puerto Rico Aqueduct and Sewer Authority Within 1 year - - - 27,186 After 10 years 464 - 464 464 Total Puerto Rico Aqueduct and Sewer Authority 464 - 464 27,650 Puerto Rico Electric Power Authority Within 1 year - 40,914 40,914 40,914 After 10 years 22 - 22 22 Total Puerto Rico Electric Power Authority 22 40,914 40,936 40,936 Puerto Rico Highways and Transportation Authority After 5 to 10 years 4 - 4 4 Total Puerto Rico Highways and Transportation Authority 4 - 4 4 Municipalities Within 1 year 3,050 56,956 60,006 73,324 After 1 to 5 years 14,270 130,935 145,205 145,205 After 5 to 10 years 18,930 138,187 157,117 157,117 After 10 years 18,690 123,371 142,061 142,061 Total Municipalities 54,940 449,449 504,389 517,707 Total Direct Government Exposure $74,504 $490,363 $564,867 $656,165 |
Non-consolidated variable int63
Non-consolidated variable interest entities (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
FNMA, GNMA, FHLMC VIE | |
Schedule Of Variable Interest Entities Text Block | (In thousands) March 31, 2016 December 31, 2015 Assets Servicing assets: Mortgage servicing rights $ 156,250 $ 163,224 Total servicing assets $ 156,250 $ 163,224 Other assets: Servicing advances $ 21,941 $ 24,431 Total other assets $ 21,941 $ 24,431 Total assets $ 178,191 $ 187,655 Maximum exposure to loss $ 178,191 $ 187,655 |
PRLP 2011 Holding, LLC | |
Schedule Of Variable Interest Entities Text Block | (In thousands) March 31, 2016 December 31, 2015 Assets Loans held-in-portfolio: Advances under the working capital line $ - $ 579 Advances under the advance facility - 401 Total loans held-in-portfolio $ - $ 980 Accrued interest receivable $ - $ 10 Other assets: Investment in PRLP 2011 Holdings LLC $ 10,749 $ 13,069 Total assets $ 10,749 $ 14,059 Deposits $ (3,347) $ (18,808) Total liabilities $ (3,347) $ (18,808) Total net assets (liabilities) $ 7,402 $ (4,749) Maximum exposure to loss $ 7,402 $ - |
PR Asset Portfolio 2013-1 International, LLC | |
Schedule Of Variable Interest Entities Text Block | (In thousands) March 31, 2016 December 31, 2015 Assets Loans held-in-portfolio: Acquisition loan $ 9,932 $ 35,121 Advances under the working capital line 829 885 Advances under the advance facility 24,267 22,296 Total loans held-in-portfolio $ 35,028 $ 58,302 Accrued interest receivable $ 130 $ 169 Other assets: Investment in PR Asset Portfolio 2013-1 International, LLC $ 24,572 $ 25,094 Total assets $ 59,730 $ 83,565 Deposits $ (10,360) $ (11,772) Total liabilities $ (10,360) $ (11,772) Total net assets $ 49,370 $ 71,793 Maximum exposure to loss $ 49,370 $ 71,793 |
Related party transactions (Tab
Related party transactions (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
PRLP 2011 Holding, LLC | |
Schedule Equity Method Investments Table [Text Block] | (In thousands) March 31, 2016 December 31, 2015 Equity investment in PRLP 2011 Holdings, LLC $ 10,749 $ 13,069 |
Proportionate Share Of Income Loss And Changes In Stockholders Equity TableTextBlock | Quarters ended March 31, (In thousands) 2016 2015 Share of (loss) income from the equity investment in PRLP 2011 Holdings, LLC $ (542) $ 1,033 |
Income Statement Data Resulting From Related Party Transactions Table [Text Block] | Quarters ended March 31, (In thousands) 2016 2015 Category Interest income on loan to PRLP 2011 Holdings, LLC $ 11 $ 62 Interest income |
Balance Sheet Data Resulting From Related Party Transactions Table [Text Block] | (In thousands) March 31, 2016 December 31, 2015 Loans $ - $ 980 Accrued interest receivable - 10 Deposits (non-interest bearing) (3,347) (18,808) Net total $ (3,347) $ (17,818) |
EVERTEC Inc. | |
Schedule Equity Method Investments Table [Text Block] | (In thousands) March 31, 2016 December 31, 2015 Equity investment in EVERTEC $ 35,162 $ 33,590 |
Income Statement Data Resulting From Related Party Transactions Table [Text Block] | Quarters ended March 31, (In thousands) 2016 2015 Category Interest expense on deposits $ (19) $ (11) Interest expense ATH and credit cards interchange income from services to EVERTEC 6,918 6,487 Other service fees Rental income charged to EVERTEC 1,736 1,724 Net occupancy Processing fees on services provided by EVERTEC (43,516) (39,504) Professional fees Other services provided to EVERTEC 256 324 Other operating expenses Total $ (34,625) $ (30,980) |
Balance Sheet Data Resulting From Related Party Transactions Table [Text Block] | (In thousands) March 31, 2016 December 31, 2015 Accounts receivable (Other assets) $ 2,980 $ 3,148 Deposits (21,322) (23,973) Accounts payable (Other liabilities) (17,480) (16,192) Net total $ (35,822) $ (37,017) |
PR Asset Portfolio 2013-1 International, LLC | |
Schedule Equity Method Investments Table [Text Block] | (In thousands) March 31, 2016 December 31, 2015 Equity investment in PR Asset Portfolio 2013-1 International, LLC $ 24,572 $ 25,094 |
Proportionate Share Of Income Loss And Changes In Stockholders Equity TableTextBlock | Quarters ended March 31, (In thousands) 2016 2015 Share of loss from the equity investment in PR Asset Portfolio 2013-1 International, LLC $ (522) $ (4,335) |
Income Statement Data Resulting From Related Party Transactions Table [Text Block] | Quarters ended March 31, (In thousands) 2016 2015 Category Interest income on loan to PR Asset Portfolio 2013-1 International, LLC $ 445 $ 866 Interest income Interest expense on deposits (1) - Interest expense Total $ 444 $ 866 |
Balance Sheet Data Resulting From Related Party Transactions Table [Text Block] | (In thousands) March 31, 2016 December 31, 2015 Loans $ 35,028 $ 58,302 Accrued interest receivable 130 169 Deposits (10,360) (11,772) Net total $ 24,798 $ 46,699 |
Fair value measurement (Tables)
Fair value measurement (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Fair Value Disclosures | |
Schedule Of Fair Value Assets And Liabilities Measured On Recurring Basis Table Text Block | At March 31, 2016 (In thousands) Level 1 Level 2 Level 3 Total RECURRING FAIR VALUE MEASUREMENTS Assets Investment securities available-for-sale: U.S. Treasury securities $ - $ 1,323,352 $ - $ 1,323,352 Obligations of U.S. Government sponsored entities - 932,938 - 932,938 Obligations of Puerto Rico, States and political subdivisions - 23,730 - 23,730 Collateralized mortgage obligations - federal agencies - 1,513,571 - 1,513,571 Mortgage-backed securities - 2,842,284 1,422 2,843,706 Equity securities 285 2,154 - 2,439 Other - 10,094 - 10,094 Total investment securities available-for-sale $ 285 $ 6,648,123 $ 1,422 $ 6,649,830 Trading account securities, excluding derivatives: Obligations of Puerto Rico, States and political subdivisions $ - $ 4,307 $ - $ 4,307 Collateralized mortgage obligations - 217 1,783 2,000 Mortgage-backed securities - federal agencies - 46,716 5,397 52,113 Other - 12,201 663 12,864 Total trading account securities $ - $ 63,441 $ 7,843 $ 71,284 Mortgage servicing rights $ - $ - $ 205,051 $ 205,051 Derivatives - 15,012 - 15,012 Total assets measured at fair value on a recurring basis $ 285 $ 6,726,576 $ 214,316 $ 6,941,177 Liabilities Derivatives $ - $ (12,068) $ - $ (12,068) Contingent consideration - - (120,823) (120,823) Total liabilities measured at fair value on a recurring basis $ - $ (12,068) $ (120,823) $ (132,891) At December 31, 2015 (In thousands) Level 1 Level 2 Level 3 Total RECURRING FAIR VALUE MEASUREMENTS Assets Investment securities available-for-sale: U.S. Treasury securities $ - $ 1,183,328 $ - $ 1,183,328 Obligations of U.S. Government sponsored entities - 939,641 - 939,641 Obligations of Puerto Rico, States and political subdivisions - 22,359 - 22,359 Collateralized mortgage obligations - federal agencies - 1,560,837 - 1,560,837 Mortgage-backed securities - 2,342,762 1,434 2,344,196 Equity securities 276 2,122 - 2,398 Other - 10,233 - 10,233 Total investment securities available-for-sale $ 276 $ 6,061,282 $ 1,434 $ 6,062,992 Trading account securities, excluding derivatives: Obligations of Puerto Rico, States and political subdivisions $ - $ 4,590 $ - $ 4,590 Collateralized mortgage obligations - 223 1,831 2,054 Mortgage-backed securities - federal agencies - 44,701 6,454 51,155 Other - 13,173 687 13,860 Total trading account securities $ - $ 62,687 $ 8,972 $ 71,659 Mortgage servicing rights $ - $ - $ 211,405 $ 211,405 Derivatives - 16,959 - 16,959 Total assets measured at fair value on a recurring basis $ 276 $ 6,140,928 $ 221,811 $ 6,363,015 Liabilities Derivatives $ - $ (14,343) $ - $ (14,343) Contingent consideration - - (120,380) (120,380) Total liabilities measured at fair value on a recurring basis $ - $ (14,343) $ (120,380) $ (134,723) |
Fair Value Measurements, Nonrecurring [Table Text Block] | Quarter ended March 31, 2016 (In thousands) Level 1 Level 2 Level 3 Total NONRECURRING FAIR VALUE MEASUREMENTS Assets Write-downs Loans [1] $ - $ - $ 30,785 $ 30,785 $ (22,850) Loans held-for-sale [2] - - 1,829 1,829 (296) Other real estate owned [3] - - 18,592 18,592 (3,920) Other foreclosed assets [3] - - 66 66 (11) Total assets measured at fair value on a nonrecurring basis $ - $ - $ 51,272 $ 51,272 $ (27,077) Quarter ended March 31, 2015 (In thousands) Level 1 Level 2 Level 3 Total NONRECURRING FAIR VALUE MEASUREMENTS Assets Write-downs Loans [1] $ - $ - $ 132,007 $ 132,007 $ (26,817) Other real estate owned [3] - 6,098 30,304 36,402 (17,936) Other foreclosed assets [3] - 20 131 151 (608) Total assets measured at fair value on a nonrecurring basis $ - $ 6,118 $ 162,442 $ 168,560 $ (45,361) |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Quarter ended March 31, 2016 MBS Other classified CMOs securities as investment classified MBS classified securities as trading classified as as trading Mortgage available- account trading account account servicing Total Contingent Total (In thousands) for-sale securities securities securities rights assets consideration liabilities Balance at January 1, 2016 $ 1,434 $ 1,831 $ 6,454 $ 687 $ 211,405 $ 221,811 $ (120,380) $ (120,380) Gains (losses) included in earnings (2) (6) 89 (24) (8,477) (8,420) (443) (443) Gains (losses) included in OCI 15 - - - - 15 - - Additions - 174 338 - 2,123 2,635 - - Sales - (106) (1,120) - - (1,226) - - Settlements (25) (110) (364) - - (499) - - Balance at March 31, 2016 $ 1,422 $ 1,783 $ 5,397 $ 663 $ 205,051 $ 214,316 $ (120,823) $ (120,823) Changes in unrealized gains (losses) included in earnings relating to assets still held at March 31, 2016 $ - $ (3) $ 86 $ 11 $ (3,866) $ (3,772) $ (443) $ (443) Quarter ended March 31, 2015 MBS Other classified CMOs securities as investment classified MBS classified securities as trading classified as as trading Mortgage available- account trading account account servicing Total Contingent Total (In thousands) for-sale securities securities securities rights assets consideration liabilities Balance at January 1, 2015 $ 1,325 $ 1,375 $ 6,229 $ 1,563 $ 148,694 $ 159,186 $ (133,634) $ (133,634) Gains (losses) included in earnings (8) (2) 16 (19) (4,929) (4,942) 4,164 4,164 Additions 118 - 130 - 5,259 5,507 - - Sales - (44) (80) - - (124) - - Settlements - (87) (74) - - (161) - - Balance at March 31, 2015 $ 1,435 $ 1,242 $ 6,221 $ 1,544 $ 149,024 $ 159,466 $ (129,470) $ (129,470) Changes in unrealized gains (losses) included in earnings relating to assets still held at March 31, 2015 $ - $ (2) $ 18 $ 23 $ (684) $ (645) $ 4,164 $ 4,164 |
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Table Text Block] | Quarter ended March 31, 2016 Quarter ended March 31, 2015 Changes in unrealized Changes in unrealized Total gains gains (losses) relating to Total gains gains (losses) relating to (losses) included assets still held at (losses) included assets still held at (In thousands) in earnings reporting date in earnings reporting date Interest income $ (2) $ - $ (8) $ - FDIC loss share (expense) income (443) (443) 4,164 4,164 Other service fees (8,477) (3,866) (4,929) (684) Trading account (loss) profit 59 94 (5) 39 Total $ (8,863) $ (4,215) $ (778) $ 3,519 |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block] | Fair value at March 31, (In thousands) 2016 Valuation technique Unobservable inputs Weighted average (range) CMO's - trading $ 1,783 Discounted cash flow model Weighted average life 2.9 years (0.4 - 4.6 years) Yield 3.8% (1.1% - 4.7%) Prepayment speed 20.8% (18.0% - 24.1%) Other - trading $ 663 Discounted cash flow model Weighted average life 5.4 years Yield 12.2 % Prepayment speed 10.8 % Mortgage servicing rights $ 205,051 Discounted cash flow model Prepayment speed 6.4% (0.2% - 12.0%) Weighted average life 6.6 years (0.1 - 15.8 years) Discount rate 11.2% (9.5% - 15.0%) Contingent consideration $ (120,188) Discounted cash flow model Credit loss rate on covered loans 2.9% (0.0% - 100.0%) Risk premium component of discount rate 6.9 % Loans held-in-portfolio $ 30,785 [1] External appraisal Haircut applied on external appraisals 40.0% (39.7% - 40.0%) Other real estate owned $ 18,368 [2] External appraisal Haircut applied on external appraisals 20.1% (10.0% - 40.0%) |
Fair value of financial instr66
Fair value of financial instruments (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Fair Value Disclosures | |
Fair Value By Balance Sheet Grouping Text Block | March 31, 2016 Carrying (In thousands) amount Level 1 Level 2 Level 3 Fair value Financial Assets: Cash and due from banks $ 409,623 $ 409,623 $ - $ - $ 409,623 Money market investments 1,917,460 1,808,513 108,947 - 1,917,460 Trading account securities, excluding derivatives [1] 71,284 - 63,441 7,843 71,284 Investment securities available-for-sale [1] 6,649,830 285 6,648,123 1,422 6,649,830 Investment securities held-to-maturity: Obligations of Puerto Rico, States and political subdivisions $ 97,130 $ - $ - $ 78,849 $ 78,849 Collateralized mortgage obligation-federal agency 86 - - 91 91 Other 2,000 - 1,736 238 1,974 Total investment securities held-to-maturity $ 99,216 $ - $ 1,736 $ 79,178 $ 80,914 Other investment securities: FHLB stock $ 55,817 $ - $ 55,817 $ - $ 55,817 FRB stock 93,086 - 93,086 - 93,086 Trust preferred securities 13,198 - 13,198 - 13,198 Other investments 1,923 - - 5,010 5,010 Total other investment securities $ 164,024 $ - $ 162,101 $ 5,010 $ 167,111 Loans held-for-sale $ 125,315 $ - $ - $ 126,872 $ 126,872 Loans not covered under loss sharing agreement with the FDIC 21,999,310 - - 20,633,219 20,633,219 Loans covered under loss sharing agreements with the FDIC 595,085 - - 553,280 553,280 FDIC loss share asset 219,448 - - 235,943 235,943 Mortgage servicing rights 205,051 - - 205,051 205,051 Derivatives 15,012 - 15,012 - 15,012 March 31, 2016 Carrying (In thousands) amount Level 1 Level 2 Level 3 Fair value Financial Liabilities: Deposits: Demand deposits $ 19,648,830 $ - $ 19,648,830 $ - $ 19,648,830 Time deposits 7,877,763 - 7,855,406 - 7,855,406 Total deposits $ 27,526,593 $ - $ 27,504,236 $ - $ 27,504,236 Federal funds purchased and assets sold under agreements to repurchase $ 760,154 $ - $ 762,053 $ - $ 762,053 Other short-term borrowings [2] $ 6,370 $ - $ 6,370 $ - $ 6,370 Notes payable: FHLB advances $ 682,161 $ - $ 708,394 $ - $ 708,394 Unsecured senior debt securities 443,225 - 421,463 - 421,463 Junior subordinated deferrable interest debentures (related to trust preferred securities) 439,303 - 351,345 - 351,345 Others 18,779 - - 18,779 18,779 Total notes payable $ 1,583,468 $ - $ 1,481,202 $ 18,779 $ 1,499,981 Derivatives $ 12,068 $ - $ 12,068 $ - $ 12,068 Contingent consideration $ 120,823 $ - $ - $ 120,823 $ 120,823 (In thousands) Notional amount Level 1 Level 2 Level 3 Fair value Commitments to extend credit $ 7,532,634 $ - $ - $ 518 $ 518 Letters of credit 37,812 - - 767 767 December 31, 2015 Carrying (In thousands) amount Level 1 Level 2 Level 3 Fair value Financial Assets: Cash and due from banks $ 363,674 $ 363,674 $ - $ - $ 363,674 Money market investments 2,180,092 2,083,839 96,253 - 2,180,092 Trading account securities, excluding derivatives [1] 71,659 - 62,687 8,972 71,659 Investment securities available-for-sale [1] 6,062,992 276 6,061,282 1,434 6,062,992 Investment securities held-to-maturity: Obligations of Puerto Rico, States and political subdivisions 98,817 - - 80,815 80,815 Collateralized mortgage obligation-federal agency 86 - - 91 91 Other 2,000 - 1,740 243 1,983 Total investment securities held-to-maturity $ 100,903 $ - $ 1,740 $ 81,149 $ 82,889 Other investment securities: FHLB stock $ 59,387 $ - $ 59,387 $ - $ 59,387 FRB stock 97,740 - 97,740 - 97,740 Trust preferred securities 13,198 - 13,198 - 13,198 Other investments 1,923 - - 4,966 4,966 Total other investment securities $ 172,248 $ - $ 170,325 $ 4,966 $ 175,291 Loans held-for-sale $ 137,000 $ - $ 1,364 $ 138,031 $ 139,395 Loans not covered under loss sharing agreement with the FDIC 21,843,180 - - 20,849,150 20,849,150 Loans covered under loss sharing agreements with the FDIC 611,939 - - 593,002 593,002 FDIC loss share asset 310,221 - - 313,224 313,224 Mortgage servicing rights 211,405 - - 211,405 211,405 Derivatives 16,959 - 16,959 - 16,959 December 31, 2015 Carrying (In thousands) amount Level 1 Level 2 Level 3 Fair value Financial Liabilities: Deposits: Demand deposits $ 19,044,355 $ - $ 19,044,355 $ - $ 19,044,355 Time deposits 8,165,368 - 8,134,029 - 8,134,029 Total deposits $ 27,209,723 $ - $ 27,178,384 $ - $ 27,178,384 Federal funds purchased and assets sold under agreements to repurchase $ 762,145 $ - $ 764,599 $ - $ 764,599 Other short-term borrowings [2] $ 1,200 $ - $ 1,200 $ - $ 1,200 Notes payable: FHLB advances 761,501 - 780,411 - 780,411 Unsecured senior debt 442,704 - 435,186 - 435,186 Junior subordinated deferrable interest debentures (related to trust preferred securities) 439,295 - 352,673 - 352,673 Others 19,008 - - 19,008 19,008 Total notes payable $ 1,662,508 $ - $ 1,568,270 $ 19,008 $ 1,587,278 Derivatives $ 14,343 $ - $ 14,343 $ - $ 14,343 Contingent consideration $ 120,380 $ - $ - $ 120,380 $ 120,380 (In thousands) Notional amount Level 1 Level 2 Level 3 Fair value Commitments to extend credit $ 7,434,108 $ - $ - $ 1,080 $ 1,080 Letters of credit 51,710 - - 572 572 |
Net income per common share (Ta
Net income per common share (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Earnings Per Share | |
Schedule Of Earnings Per Share Basic And Diluted Table Text Block | Quarters ended March 31, (In thousands, except per share information) 2016 2015 Net income from continuing operations $ 84,999 $ 73,485 Net income from discontinued operations - 1,341 Preferred stock dividends (931) (930) Net income applicable to common stock $ 84,068 $ 73,896 Average common shares outstanding 103,188,815 102,939,928 Average potential dilutive common shares 80,998 196,381 Average common shares outstanding - assuming dilution 103,269,813 103,136,309 Basic EPS from continuing operations $ 0.81 $ 0.71 Basic EPS from discontinued operations $ ― $ 0.01 Total Basic EPS $ 0.81 $ 0.72 Diluted EPS from continuing operations $ 0.81 $ 0.71 Diluted EPS from discontinued operations $ ― $ 0.01 Total Diluted EPS $ 0.81 $ 0.72 |
Other service fees (Tables)
Other service fees (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Table Text Block | |
Schedule Of Other Service Fees Table [Text Block] | Quarters ended March 31, (In thousands) 2016 2015 Insurance fees $ 12,850 $ 12,041 Credit card fees 16,858 16,149 Debit card fees 11,287 11,125 Sale and administration of investment products 4,839 5,930 Trust fees 4,235 4,602 Other fees 3,313 3,779 Total other service fees $ 53,382 $ 53,626 |
FDIC loss share (expense) inc69
FDIC loss share (expense) income (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Table Text Block | |
F D I C Loss Share Expense Income Table [Text Block] | Quarters ended March 31, (In thousands) 2016 2015 Amortization of loss share indemnification asset $ (4,042) $ (27,316) 80% mirror accounting on credit impairment losses (reversal) [1] (2,093) 8,246 80% mirror accounting on reimbursable expenses 3,950 21,545 80% mirror accounting on recoveries on covered assets, including rental income on OREOs, subject to reimbursement to the FDIC (645) (2,619) Change in true-up payment obligation (443) 4,164 Other 127 119 Total FDIC loss share (expense) income $ (3,146) $ 4,139 [1] Reductions in expected cash flows for ASC 310-30 loans, which may impact the provision for loan losses, may consider reductions in both principal and interest cash flow expectations. The amount covered under the FDIC loss sharing agreements for interest not collected from borrowers is limited under the agreements (approximately 90 days); accordingly, these amounts are not subject fully to the 80% mirror accounting. |
Pension and postretirement be70
Pension and postretirement benefits (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Pension Plans, Defined Benefit [Member] | |
Schedule Of Net Benefit Costs Table Text Block | Pension Plan Benefit Restoration Plans Quarters ended March 31, Quarters ended March 31, (In thousands) 2016 2015 2016 2015 Interest cost $ 6,291 $ 7,403 $ 348 $ 407 Expected return on plan assets (9,623) (11,056) (538) (589) Amortization of net loss 4,880 4,465 331 311 Total net periodic pension cost (benefit) $ 1,548 $ 812 $ 141 $ 129 |
Other Postretirement Benefit Plans Defined Benefit [Member] | |
Schedule Of Net Benefit Costs Table Text Block | Quarters ended March 31, (In thousands) 2016 2015 Service cost $ 289 $ 368 Interest cost 1,505 1,589 Amortization of prior service cost (950) (950) Amortization of net loss 275 249 Total postretirement cost $ 1,119 $ 1,256 |
Stock-based compensation (Table
Stock-based compensation (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Executive Officers | |
Schedule of Unvested Restricted Stock Units Roll Forward [Table Text Block] | (Not in thousands) Shares Weighted-Average Grant Date Fair Value Non-vested at December 31, 2014 628,009 $ 27.13 Granted 323,814 33.37 Vested (430,646) 30.45 Forfeited (25,446) 28.65 Non-vested at December 31, 2015 495,731 $ 28.25 Granted 226,098 24.05 Quantity adjusted by TSR factor (8,914) 28.47 Vested (256,501) 25.90 Non-vested at March 31, 2016 456,414 $ 27.12 |
Directors | |
Schedule of Unvested Restricted Stock Units Roll Forward [Table Text Block] | (Not in thousands) Restricted Stock Weighted-Average Grant Date Fair Value Non-vested at December 31, 2014 - $ - Granted 22,119 32.29 Vested (22,119) 32.29 Forfeited - - Non-vested at December 31, 2015 - $ - Granted 2,338 23.95 Vested (2,338) 23.95 Forfeited - - Non-vested at March 31, 2016 - $ - |
Income taxes (Tables)
Income taxes (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Schedule Of Deferred Tax Assets And Liabilities Table Text Block | (In thousands) March 31, 2016 December 31, 2015 Deferred tax assets: Tax credits available for carryforward $ 13,651 $ 13,651 Net operating loss and other carryforward available 1,264,077 1,262,197 Postretirement and pension benefits 114,866 116,036 Deferred loan origination fees 6,063 6,420 Allowance for loan losses 658,220 670,592 Deferred gains 5,688 5,966 Accelerated depreciation 8,209 8,335 Intercompany deferred gains 2,492 2,743 Difference in outside basis from pass-through entities 11,889 12,684 Other temporary differences 30,348 29,208 Total gross deferred tax assets 2,115,503 2,127,832 Deferred tax liabilities: FDIC-assisted transaction 92,156 90,778 Indefinite-lived intangibles 66,175 63,573 Unrealized net gain on trading and available-for-sale securities 37,662 22,281 Other temporary differences 7,232 6,670 Total gross deferred tax liabilities 203,225 183,302 Valuation allowance 637,911 642,727 Net deferred tax asset $ 1,274,367 $ 1,301,803 |
Summary Of Income Tax Contingencies Text Block | (In millions) 2016 2015 Balance at January 1 $ 9.0 $ 8.0 Additions for tax positions -January through March 0.4 0.3 Reduction as a result of settlements - January through March - (0.5) Balance at March 31 $ 9.4 $ 7.8 |
PUERTO RICO | |
Schedule Of Effective Income Tax Rate Reconciliation Table Text Block | Quarters ended March 31, 2016 March 31, 2015 (In thousands) Amount % of pre-tax income Amount % of pre-tax income Computed income tax expense at statutory rates $ 45,733 39 % $ 41,361 39 % Net benefit of tax exempt interest income (15,584) (13) (15,027) (14) Deferred tax asset valuation allowance 5,273 5 5,639 5 Difference in tax rates due to multiple jurisdictions (864) (1) (275) - Effect of income subject to preferential tax rate (3,414) (3) (2,471) (2) State and local taxes 2,927 3 1,331 1 Others (1,806) (2) 2,010 2 Income tax expense $ 32,265 28 % $ 32,568 31 % |
Supplemental disclosure on th73
Supplemental disclosure on the consolidated statements of cash flows (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Supplemental Cash Flow Information | |
Schedule Of Cash Flow Supplemental Disclosures Table Text Block | (In thousands) March 31, 2016 March 31, 2015 Non-cash activities: Loans transferred to other real estate $ 26,919 $ 30,802 Loans transferred to other property 7,693 8,979 Total loans transferred to foreclosed assets 34,612 39,781 Transfers from loans held-in-portfolio to loans held-for-sale - 10,839 Transfers from loans held-for-sale to loans held-in-portfolio 3,821 4,858 Loans securitized into investment securities [1] 170,248 203,414 Trades receivable from brokers and counterparties 87,590 112,287 Trades payable to brokers and counterparties 32,774 19,097 Recognition of mortgage servicing rights on securitizations or asset transfers 2,136 2,859 [1] Includes loans securitized into trading securities and subsequently sold before quarter end. |
Segment reporting (Tables)
Segment reporting (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Table Text Block | |
Schedule Of Segment Reporting Information By Segment Text Block | 2016 For the quarter ended March 31, 2016 Banco Popular Banco Popular Intersegment (In thousands) de Puerto Rico North America Eliminations Net interest income $ 305,350 $ 62,257 $ - Provision for loan losses 40,800 4,069 - Non-interest income 98,566 4,950 - Amortization of intangibles 2,948 166 - Depreciation expense 10,197 1,333 - Other operating expenses 224,669 41,331 - Income tax expense 31,877 8,456 - Net income $ 93,425 $ 11,852 $ - Segment assets $ 28,108,702 $ 7,880,357 $ (52,740) For the quarter ended March 31, 2016 Reportable (In thousands) Segments Corporate Eliminations Total Popular, Inc. Net interest income (expense) $ 367,607 $ (15,195) $ - $ 352,412 Provision (reversal of provision) for loan losses 44,869 (34) - 44,835 Non-interest income 103,516 8,177 (63) 111,630 Amortization of intangibles 3,114 - - 3,114 Depreciation expense 11,530 177 - 11,707 Other operating expenses 266,000 21,731 (609) 287,122 Income tax expense (benefit) 40,333 (8,281) 213 32,265 Net income (loss) $ 105,277 $ (20,611) $ 333 $ 84,999 Segment assets $ 35,936,319 $ 4,938,750 $ (4,728,060) $ 36,147,009 2015 For the quarter ended March 31, 2015 Banco Popular Banco Popular Intersegment (In thousands) de Puerto Rico North America Eliminations Net interest income $ 306,611 $ 52,101 $ - Provision (reversal of provision) for loan losses 42,237 (2,202) - Non-interest income 103,529 6,167 - Amortization of intangibles 1,998 106 - Depreciation expense 10,108 1,617 - Other operating expenses 227,576 54,484 - Income tax expense 37,448 937 - Net income $ 90,773 $ 3,326 $ - Segment assets $ 28,803,521 $ 6,717,758 $ (128,481) For the quarter ended March 31, 2015 Reportable (In thousands) Segments Corporate Eliminations Total Popular, Inc. Net interest income (expense) $ 358,712 $ (15,517) $ - $ 343,195 Provision for loan losses 40,035 - - 40,035 Non-interest income 109,696 5,643 (104) 115,235 Amortization of intangibles 2,104 - - 2,104 Depreciation expense 11,725 194 - 11,919 Other operating expenses 282,061 16,990 (732) 298,319 Income tax expense (benefit) 38,385 (6,062) 245 32,568 Net income (loss) $ 94,098 $ (20,996) $ 383 $ 73,485 Segment assets $ 35,392,798 $ 4,896,192 $ (4,673,543) $ 35,615,447 2016 For the quarter ended March 31, 2016 Banco Popular de Puerto Rico Consumer Other Total Banco Commercial and Retail Financial Popular de (In thousands) Banking Banking Services Eliminations Puerto Rico Net interest income $ 114,903 $ 187,195 $ 1,615 $ 1,637 $ 305,350 Provision for loan losses 14,908 25,892 - - 40,800 Non-interest income 21,731 55,608 21,311 (84) 98,566 Amortization of intangibles 22 1,836 1,090 - 2,948 Depreciation expense 4,275 5,691 231 - 10,197 Other operating expenses 57,232 150,212 17,309 (84) 224,669 Income tax expense 18,169 12,379 1,329 - 31,877 Net income $ 42,028 $ 46,793 $ 2,967 $ 1,637 $ 93,425 Segment assets $ 11,273,486 $ 17,090,030 $ 342,867 $ (597,681) $ 28,108,702 2015 For the quarter ended March 31, 2015 Banco Popular de Puerto Rico Consumer Other Total Banco Commercial and Retail Financial Popular de (In thousands) Banking Banking Services Eliminations Puerto Rico Net interest income $ 118,475 $ 186,252 $ 1,880 $ 4 $ 306,611 (Reversal of provision) provision for loan losses (3,556) 45,793 - - 42,237 Non-interest income 27,150 56,004 20,470 (95) 103,529 Amortization of intangibles 29 1,772 197 - 1,998 Depreciation expense 4,320 5,512 276 - 10,108 Other operating expenses 65,856 145,068 16,747 (95) 227,576 Income tax expense 26,053 9,778 1,617 - 37,448 Net income $ 52,923 $ 34,333 $ 3,513 $ 4 $ 90,773 Segment assets $ 10,056,505 $ 20,053,145 $ 486,998 $ (1,793,127) $ 28,803,521 |
Schedule Of Revenues And Selected Balance Sheet Information By Geographic Area Table [TextBlock] | Geographic Information Quarter ended (In thousands) March 31, 2016 March 31, 2015 Revenues: [1] Puerto Rico $ 380,036 $ 385,054 United States 64,640 56,710 Other 19,366 16,666 Total consolidated revenues $ 464,042 $ 458,430 Selected Balance Sheet Information: (In thousands) March 31, 2016 December 31, 2015 Puerto Rico Total assets $ 27,150,601 $ 26,764,184 Loans 17,370,172 17,477,070 Deposits 21,015,800 20,893,232 United States Total assets $ 8,063,912 $ 7,859,217 Loans 5,121,648 4,873,504 Deposits 5,445,760 5,288,886 Other Total assets $ 932,496 $ 1,138,332 Loans 766,362 778,656 Deposits [1] 1,065,033 1,027,605 [1] Represents deposits from BPPR operations located in the U.S. and British Virgin Islands. |
Condensed consolidating finan75
Condensed consolidating financial information of guarantor and issuers of registered guaranteed securities (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Table Text Block | |
Schedule of Condensed Balance Sheet [Table Text Block] | Condensed Consolidating Statement of Financial Condition (Unaudited) At March 31, 2016 All other Popular Inc. PNA subsidiaries and Elimination Popular, Inc. (In thousands) Holding Co. Holding Co. eliminations entries Consolidated Assets: Cash and due from banks $ 21,133 $ 598 $ 409,315 $ (21,423) $ 409,623 Money market investments 255,251 18,519 1,917,209 (273,519) 1,917,460 Trading account securities, at fair value 2,121 - 69,163 - 71,284 Investment securities available-for-sale, at fair value 227 - 6,649,603 - 6,649,830 Investment securities held-to-maturity, at amortized cost - - 99,216 - 99,216 Other investment securities, at lower of cost or realizable value 9,850 4,492 149,682 - 164,024 Investment in subsidiaries 5,679,385 1,819,384 - (7,498,769) - Loans held-for-sale, at lower of cost or fair value - - 125,315 - 125,315 Loans held-in-portfolio: Loans not covered under loss-sharing agreements with the FDIC 1,167 - 22,617,321 - 22,618,488 Loans covered under loss-sharing agreements with the FDIC - - 625,130 - 625,130 Less - Unearned income - - 110,751 - 110,751 Allowance for loan losses 2 - 538,470 - 538,472 Total loans held-in-portfolio, net 1,165 - 22,593,230 - 22,594,395 FDIC loss-share asset - - 219,448 - 219,448 Premises and equipment, net 2,999 - 524,494 - 527,493 Other real estate not covered under loss- sharing agreements with the FDIC 566 - 165,394 - 165,960 Other real estate covered under loss- sharing agreements with the FDIC - - 36,397 - 36,397 Accrued income receivable 73 36 120,229 (30) 120,308 Mortgage servicing assets, at fair value - - 205,051 - 205,051 Other assets 57,670 23,453 2,091,857 (16,950) 2,156,030 Goodwill - - 631,095 - 631,095 Other intangible assets 553 - 53,527 - 54,080 Total assets $ 6,030,993 $ 1,866,482 $ 36,060,225 $ (7,810,691) $ 36,147,009 Liabilities and Stockholders' Equity Liabilities: Deposits: Non-interest bearing $ - $ - $ 6,405,516 $ (21,423) $ 6,384,093 Interest bearing - - 21,416,019 (273,519) 21,142,500 Total deposits - - 27,821,535 (294,942) 27,526,593 Federal funds purchased and assets sold under agreements to repurchase - - 760,154 - 760,154 Other short-term borrowings - - 6,370 - 6,370 Notes payable 734,036 148,492 700,940 - 1,583,468 Other liabilities 46,657 3,591 985,598 (17,537) 1,018,309 Liabilities from discontinued operations - - 1,815 - 1,815 Total liabilities 780,693 152,083 30,276,412 (312,479) 30,896,709 Stockholders' equity: Preferred stock 50,160 - - - 50,160 Common stock 1,039 2 56,307 (56,309) 1,039 Surplus 4,222,706 4,111,208 5,712,604 (9,815,285) 4,231,233 Retained earnings (accumulated deficit) 1,165,003 (2,409,905) 195,181 2,206,197 1,156,476 Treasury stock, at cost (6,858) - - - (6,858) Accumulated other comprehensive loss, net of tax (181,750) 13,094 (180,279) 167,185 (181,750) Total stockholders' equity 5,250,300 1,714,399 5,783,813 (7,498,212) 5,250,300 Total liabilities and stockholders' equity $ 6,030,993 $ 1,866,482 $ 36,060,225 $ (7,810,691) $ 36,147,009 Condensed Consolidating Statement of Financial Condition (Unaudited) At December 31, 2015 All other Popular, Inc. PNA subsidiaries and Elimination Popular, Inc. (In thousands) Holding Co. Holding Co. eliminations entries Consolidated Assets: Cash and due from banks $ 24,298 $ 600 $ 363,620 $ (24,844) $ 363,674 Money market investments 262,204 23,931 2,179,887 (285,930) 2,180,092 Trading account securities, at fair value 2,020 - 69,639 - 71,659 Investment securities available-for-sale, at fair value 216 - 6,062,776 - 6,062,992 Investment securities held-to-maturity, at amortized cost - - 100,903 - 100,903 Other investment securities, at lower of cost or realizable value 9,850 4,492 157,906 - 172,248 Investment in subsidiaries 5,539,325 1,789,512 - (7,328,837) - Loans held-for-sale, at lower of cost or fair value - - 137,000 - 137,000 Loans held-in-portfolio: Loans not covered under loss-sharing agreements with the FDIC 1,176 - 22,452,637 - 22,453,813 Loans covered under loss-sharing agreements with the FDIC - - 646,115 - 646,115 Less - Unearned income - - 107,698 - 107,698 Allowance for loan losses 3 - 537,108 - 537,111 Total loans held-in-portfolio, net 1,173 - 22,453,946 - 22,455,119 FDIC loss-share asset - - 310,221 - 310,221 Premises and equipment, net 2,823 - 499,788 - 502,611 Other real estate not covered under loss- sharing agreements with the FDIC 532 - 154,699 - 155,231 Other real estate covered under loss- sharing agreements with the FDIC - - 36,685 - 36,685 Accrued income receivable 85 115 124,070 (36) 124,234 Mortgage servicing assets, at fair value - - 211,405 - 211,405 Other assets 54,908 23,596 2,132,616 (17,958) 2,193,162 Goodwill - - 626,388 - 626,388 Other intangible assets 554 - 57,555 - 58,109 Total assets $ 5,897,988 $ 1,842,246 $ 35,679,104 $ (7,657,605) $ 35,761,733 Liabilities and Stockholders' Equity Liabilities: Deposits: Non-interest bearing $ - $ - $ 6,426,359 $ (24,844) $ 6,401,515 Interest bearing - - 21,094,138 (285,930) 20,808,208 Total deposits - - 27,520,497 (310,774) 27,209,723 Federal funds purchased and assets sold under agreements to repurchase - - 762,145 - 762,145 Other short-term borrowings - - 1,200 - 1,200 Notes payable 733,516 148,483 780,509 - 1,662,508 Other liabilities 59,148 6,659 971,429 (18,218) 1,019,018 Liabilities from discontinued operations - - 1,815 - 1,815 Total liabilities 792,664 155,142 30,037,595 (328,992) 30,656,409 Stockholders' equity: Preferred stock 50,160 - - - 50,160 Common stock 1,038 2 56,307 (56,309) 1,038 Surplus 4,220,629 4,111,208 5,712,635 (9,815,316) 4,229,156 Retained earnings (accumulated deficit) 1,096,484 (2,416,251) 128,459 2,279,265 1,087,957 Treasury stock, at cost (6,101) - - - (6,101) Accumulated other comprehensive loss, net of tax (256,886) (7,855) (255,892) 263,747 (256,886) Total stockholders' equity 5,105,324 1,687,104 5,641,509 (7,328,613) 5,105,324 Total liabilities and stockholders' equity $ 5,897,988 $ 1,842,246 $ 35,679,104 $ (7,657,605) $ 35,761,733 |
Schedule of Condensed Income Statement [Table Text Block] | Condensed Consolidating Statement of Operations (Unaudited) Quarter ended March 31, 2016 All other Popular, Inc. PNA subsidiaries and Elimination Popular, Inc. (In thousands) Holding Co. Holding Co. eliminations entries Consolidated Interest and dividend income: Dividend income from subsidiaries $ 29,700 $ - $ - $ (29,700) $ - Loans 19 - 363,178 - 363,197 Money market investments 255 21 2,863 (276) 2,863 Investment securities 238 80 35,953 - 36,271 Trading account securities - - 1,689 - 1,689 Total interest and dividend income 30,212 101 403,683 (29,976) 404,020 Interest expense: Deposits - - 30,150 (276) 29,874 Short-term borrowings - - 1,861 - 1,861 Long-term debt 13,117 2,693 4,063 - 19,873 Total interest expense 13,117 2,693 36,074 (276) 51,608 Net interest income (expense) 17,095 (2,592) 367,609 (29,700) 352,412 Provision (reversal) for loan losses- non-covered loans (34) - 47,974 - 47,940 Provision (reversal) for loan losses- covered loans - - (3,105) - (3,105) Net interest income (expense) after provision for loan losses 17,129 (2,592) 322,740 (29,700) 307,577 Service charges on deposit accounts - - 39,862 - 39,862 Other service fees - - 53,439 (57) 53,382 Mortgage banking activities - - 10,551 - 10,551 Trading account profit (loss) 24 - (186) - (162) Net loss on sale of loans, including valuation adjustments on loans held-for-sale - - (304) - (304) Adjustments (expense) to indemnity reserves on loans sold - - (4,098) - (4,098) FDIC loss-share expense - - (3,146) - (3,146) Other operating income 3,256 (1,303) 13,599 (7) 15,545 Total non-interest income 3,280 (1,303) 109,717 (64) 111,630 Operating expenses: Personnel costs 15,421 - 111,670 - 127,091 Net occupancy expenses 916 - 19,514 - 20,430 Equipment expenses 445 - 14,103 - 14,548 Other taxes 47 - 10,148 - 10,195 Professional fees 2,881 30 72,605 (57) 75,459 Communications 137 - 6,183 - 6,320 Business promotion 465 - 10,645 - 11,110 FDIC deposit insurance - - 7,370 - 7,370 Other real estate owned (OREO) expenses - - 9,141 - 9,141 Other operating expenses (20,428) 39 38,106 (552) 17,165 Amortization of intangibles - - 3,114 - 3,114 Total operating expenses (116) 69 302,599 (609) 301,943 Income (loss) before income tax and equity in earnings of subsidiaries 20,525 (3,964) 129,858 (29,155) 117,264 Income tax expense (benefit) 3 (1,387) 33,436 213 32,265 Income (loss) before equity in earnings of subsidiaries 20,522 (2,577) 96,422 (29,368) 84,999 Equity in undistributed earnings of subsidiaries 64,477 8,923 - (73,400) - Net Income $ 84,999 $ 6,346 $ 96,422 $ (102,768) $ 84,999 Comprehensive income, net of tax $ 160,135 $ 27,295 $ 172,035 $ (199,330) $ 160,135 Condensed Consolidating Statement of Operations (Unaudited) Quarter ended March 31, 2015 All other Popular, Inc. PNA subsidiaries and Elimination Popular, Inc. (In thousands) Holding Co. Holding Co. eliminations entries Consolidated Interest income: Dividend income from subsidiaries $ 1,500 $ - $ - $ (1,500) $ - Loans 140 - 355,613 (122) 355,631 Money market investments 2 2 1,444 (2) 1,446 Investment securities 143 81 30,077 - 30,301 Trading account securities - - 2,696 - 2,696 Total interest income 1,785 83 389,830 (1,624) 390,074 Interest expense: Deposits - - 25,866 (2) 25,864 Short-term borrowings - 101 1,755 (122) 1,734 Long-term debt 13,118 2,695 3,468 - 19,281 Total interest expense 13,118 2,796 31,089 (124) 46,879 Net interest (expense) income (11,333) (2,713) 358,741 (1,500) 343,195 Provision for loan losses- non-covered loans - - 29,711 - 29,711 Provision for loan losses- covered loans - - 10,324 - 10,324 Net interest (expense) income after provision for loan losses (11,333) (2,713) 318,706 (1,500) 303,160 Service charges on deposit accounts - - 39,017 - 39,017 Other service fees - - 53,714 (88) 53,626 Mortgage banking activities - - 12,852 - 12,852 Trading account profit 40 - 374 - 414 Net loss on sale of loans, including valuation adjustments on loans held-for-sale - - (79) - (79) Adjustments (expense) to indemnity reserves on loans sold - - (4,526) - (4,526) FDIC loss-share income - - 4,139 - 4,139 Other operating income 2,968 (828) 7,668 (16) 9,792 Total non-interest income 3,008 (828) 113,159 (104) 115,235 Operating expenses: Personnel costs 11,908 - 104,550 - 116,458 Net occupancy expenses 980 - 20,729 - 21,709 Equipment expenses 545 - 12,866 - 13,411 Other taxes (1,458) - 10,032 - 8,574 Professional fees 2,774 410 72,432 (88) 75,528 Communications 117 - 6,059 - 6,176 Business promotion 436 - 10,377 - 10,813 FDIC deposit insurance - - 6,398 - 6,398 Other real estate owned (OREO) expenses - - 23,069 - 23,069 Other operating expenses (16,935) 109 34,819 (644) 17,349 Amortization of intangibles - - 2,104 - 2,104 Restructuring cost - - 10,753 - 10,753 Total operating expenses (1,633) 519 314,188 (732) 312,342 (Loss) income before income tax and equity in earnings of subsidiaries (6,692) (4,060) 117,677 (872) 106,053 Income tax expense 47 - 32,276 245 32,568 (Loss) income before equity in earnings of subsidiaries (6,739) (4,060) 85,401 (1,117) 73,485 Equity in undistributed earnings of subsidiaries 80,224 1,269 - (81,493) - Income (loss) from continuing operations 73,485 (2,791) 85,401 (82,610) 73,485 Income from discontinued operations, net of tax - - 1,341 - 1,341 Equity in undistributed earnings of discontinued operations 1,341 1,341 - (2,682) - Net Income (loss) $ 74,826 $ (1,450) $ 86,742 $ (85,292) $ 74,826 Comprehensive income, net of tax $ 110,298 $ 11,841 $ 122,078 $ (133,919) $ 110,298 |
Schedule of Condensed Cash Flow Statement [Table Text Block] | Quarter ended March 31,2016 All other Popular, Inc. PNA subsidiaries Elimination Popular, Inc. (In thousands) Holding Co. Holding Co. and eliminations entries Consolidated Cash flows from operating activities: Net income $ 84,999 $ 6,346 $ 96,422 $ (102,768) $ 84,999 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Equity in undistributed earnings of subsidiaries (64,477) (8,923) - 73,400 - Provision (reversal) for loan losses (34) - 44,869 - 44,835 Amortization of intangibles - - 3,114 - 3,114 Depreciation and amortization of premises and equipment 177 - 11,530 - 11,707 Net accretion of discounts and amortization of premiums and deferred fees 521 8 (11,687) - (11,158) Fair value adjustments on mortgage servicing rights - - 8,477 - 8,477 FDIC loss-share income - - 3,146 - 3,146 Adjustments (expense) to indemnity reserves on loans sold - - 4,098 - 4,098 (Earnings) losses from investments under the equity method (3,256) 1,303 (5,136) - (7,089) Deferred income tax expense (benefit) 3 (1,387) 24,389 213 23,218 (Gain) loss on: Disposition of premises and equipment and other productive assets - - (1,946) - (1,946) Sale of loans, including valuation adjustments on loans held for sale and mortgage banking activities - - (7,101) - (7,101) Sale of foreclosed assets, including write-downs - - 2,802 - 2,802 Acquisitions of loans held-for-sale - - (66,451) - (66,451) Proceeds from sale of loans held-for-sale - - 22,253 - 22,253 Net originations on loans held-for-sale - - (110,528) - (110,528) Net (increase) decrease in: Trading securities (101) - 176,699 - 176,598 Accrued income receivable 12 79 3,842 (7) 3,926 Other assets 1 21 22,194 (1,220) 20,996 Net (decrease) increase in: Interest payable (7,875) (2,685) (1,708) 7 (12,261) Pension and other postretirement benefits obligations - - 1,536 - 1,536 Other liabilities (4,622) (382) (12,681) 675 (17,010) Total adjustments (79,651) (11,966) 111,711 73,068 93,162 Net cash provided by (used in) operating activities 5,348 (5,620) 208,133 (29,700) 178,161 Cash flows from investing activities: Net decrease in money market investments 6,952 5,412 262,679 (12,411) 262,632 Purchases of investment securities: Available-for-sale - - (742,859) - (742,859) Other - - (59,786) - (59,786) Proceeds from calls, paydowns, maturities and redemptions of investment securities: Available-for-sale - - 239,399 - 239,399 Held-to-maturity - - 2,108 - 2,108 Other - - 41,664 - 41,664 Proceeds from sale of investment securities: Other - - 26,346 - 26,346 Net repayments on loans 8 - 13,327 - 13,335 Proceeds from sale of loans - - 1,128 - 1,128 Acquisition of loan portfolios - - (212,798) - (212,798) Net payments from FDIC under loss-sharing agreements - - 88,588 - 88,588 Return of capital from equity method investments - 206 - - 206 Acquisition of premises and equipment (398) - (38,421) - (38,819) Proceeds from sale of: Premises and equipment and other productive assets 46 - 5,046 - 5,092 Foreclosed assets - - 14,513 - 14,513 Net cash provided by (used in) investing activities 6,608 5,618 (359,066) (12,411) (359,251) Cash flows from financing activities: Net increase (decrease) in: Deposits - - 302,718 15,832 318,550 Federal funds purchased and assets sold under agreements to repurchase - - (1,991) - (1,991) Other short-term borrowings - - 5,170 - 5,170 Payments of notes payable - - (108,452) - (108,452) Proceeds from issuance of notes payable - - 28,883 - 28,883 Proceeds from issuance of common stock 2,109 - - - 2,109 Dividends paid to parent company - - (29,700) 29,700 - Dividends paid (16,473) - - - (16,473) Net payments for repurchase of common stock (757) - - - (757) Net cash (used in) provided by financing activities (15,121) - 196,628 45,532 227,039 Net (decrease) increase in cash and due from banks (3,165) (2) 45,695 3,421 45,949 Cash and due from banks at beginning of period 24,298 600 363,620 (24,844) 363,674 Cash and due from banks at end of period $ 21,133 $ 598 $ 409,315 $ (21,423) $ 409,623 During the quarter ended March 31, 2016 there have not been any cash flows associated with discontinued operations. Quarter ended March 31,2015 All other Popular, Inc. PNA subsidiaries Elimination Popular, Inc. (In thousands) Holding Co. Holding Co. and eliminations entries Consolidated Cash flows from operating activities: Net income (loss) $ 74,826 $ (1,450) $ 86,742 $ (85,292) $ 74,826 Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: Equity in undistributed (earnings) losses of subsidiaries (81,565) (2,610) - 84,175 - Provision for loan losses - - 40,035 - 40,035 Amortization of intangibles - - 2,104 - 2,104 Depreciation and amortization of premises and equipment 194 - 11,725 - 11,919 Net accretion of discounts and amortization of premiums and deferred fees - - (19,100) - (19,100) Fair value adjustments on mortgage servicing rights - - 4,929 - 4,929 FDIC loss-share income - - (4,139) - (4,139) Adjustments (expense) to indemnity reserves on loans sold - - 4,526 - 4,526 Earnings from investments under the equity method (2,968) 828 (161) - (2,301) Deferred income tax expense - - 23,135 245 23,380 (Gain) loss on: Disposition of premises and equipment - - (978) - (978) Sale of loans, including valuation adjustments on loans held for sale and mortgage banking activities - - (7,222) - (7,222) Sale of foreclosed assets, including write-downs - - 14,851 - 14,851 Acquisitions of loans held-for-sale - - (121,929) - (121,929) Proceeds from sale of loans held-for-sale - - 27,547 - 27,547 Net originations on loans held-for-sale - - (179,604) - (179,604) Net (increase) decrease in: Trading securities (126) - 178,068 - 177,942 Accrued income receivable (56) 81 (94) 56 (13) Other assets 3,716 28 (27,900) (3,871) (28,027) Net (decrease) increase in: Interest payable (7,875) (2,629) 344 (56) (10,216) Pension and other postretirement benefits obligations - - 1,019 - 1,019 Other liabilities (12,816) (7) (9,797) 3,243 (19,377) Total adjustments (101,496) (4,309) (62,641) 83,792 (84,654) Net cash (used in) provided by operating activities (26,670) (5,759) 24,101 (1,500) (9,828) Cash flows from investing activities: Net (increase) decrease in money market investments (38) (1,457) (484,791) 1,457 (484,829) Purchases of investment securities: Available-for-sale - - (411,189) - (411,189) Held-to-maturity - - (250) - (250) Other - - (2,520) - (2,520) Proceeds from calls, paydowns, maturities and redemptions of investment securities: Available-for-sale - - 385,672 - 385,672 Held-to-maturity - - 2,231 - 2,231 Other - - 30,785 - 30,785 Proceeds from sale of investment securities: Other - - 1,388 - 1,388 Net repayments on loans 10,392 - 154,788 (10,386) 154,794 Proceeds from sale of loans - - 19,127 - 19,127 Acquisition of loan portfolios - - (49,510) - (49,510) Net payments from FDIC under loss-sharing agreements - - 132,265 - 132,265 Net cash received and acquired from business combination - - 711,051 - 711,051 Mortgage servicing rights purchased - - (2,400) - (2,400) Acquisition of premises and equipment (242) - (9,989) - (10,231) Proceeds from sale of: Premises and equipment 3 - 3,090 - 3,093 Foreclosed assets - - 40,161 - 40,161 Net cash provided by (used in) investing activities 10,115 (1,457) 519,909 (8,929) 519,638 Cash flows from financing activities: Net increase (decrease) in: Deposits - - 250,582 15,324 265,906 Federal funds purchased and assets sold under agreements to repurchase - - (139,013) - (139,013) Other short-term borrowings - 7,214 (165,815) 10,386 (148,215) Payments of notes payable - - (419,487) - (419,487) Proceeds from issuance of notes payable - - 46,000 - 46,000 Proceeds from issuance of common stock 1,405 - - - 1,405 Dividends paid to parent company - - (1,500) 1,500 - Dividends paid (620) - - - (620) Net payments for repurchase of common stock (1,105) - - - (1,105) Net cash (used in) provided by financing activities (320) 7,214 (429,233) 27,210 (395,129) Net (decrease) increase in cash and due from banks (16,875) (2) 114,777 16,781 114,681 Cash and due from banks at beginning of period 20,448 608 380,890 (20,851) 381,095 Cash and due from banks at end of period $ 3,573 $ 606 $ 495,667 $ (4,070) $ 495,776 The Condensed Consolidating Statements of Cash Flows include the cash flows from operating, investing and financing activities associated with discontinued operations. |
Note New Accounting Pronounceme
Note New Accounting Pronouncements (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
New Accounting Pronouncements and Changes in Accounting Principles | ||
Debt Issuance Costs | $ 7,300 | $ 7,800 |
Note Discontinued Operations an
Note Discontinued Operations and restructuring plan (Activity in the reserve for restructuring costs) (Detail) - Restructuring Charges - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Restructuring Cost And Reserve [Line Items] | ||
Restructuring Reserve | $ 620 | $ 13,536 |
Charges expensed during the period | 0 | 6,297 |
Payments made during the period | (263) | (9,030) |
Restructuring Reserve | $ 357 | $ 10,803 |
Note Discontinued Operations 78
Note Discontinued Operations and restructuring plan - Additional information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 18 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |||
Liabilities from discontinued operations | $ 1,815 | $ 1,815 | |
Assets from discontinued operations | 0 | 0 | |
Discontinued Operations | |||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |||
Income Loss From Discontinued Operations Net Of Tax | 0 | $ 1,341 | |
Continuing Operations | |||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |||
Restructuring Charges | 0 | 10,753 | $ 45,100 |
Professional fees | $ 75,459 | 75,528 | |
Continuing Operations | Restructuring Charges Member | |||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |||
Professional fees | $ 9,400 |
Note Business Combination (Fair
Note Business Combination (Fair values of major classes of identifiable assets acquired and liabilities assumed) (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Feb. 27, 2015 | Dec. 31, 2014 | |
Business Acquisition | ||||||
Goodwill | $ 631,095 | $ 626,388 | $ 508,310 | $ 465,676 | ||
FDIC Assisted Partial Acquisition Of Doral Bank | Book value prior to purchase accounting adjustements | ||||||
Business Acquisition | ||||||
Cash and due from banks | $ 339,633 | |||||
Core deposits intangibles | 23,572 | |||||
Other assets | 67,676 | |||||
Total assets excluding goodwill | 2,321,972 | |||||
Total liabilities | 2,786,132 | |||||
Excess of liabilities assumed over the assets acquired | 464,160 | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | Book value prior to purchase accounting adjustements | Investment in Federal Home Loan Bank Stock | ||||||
Business Acquisition | ||||||
Investments | 30,785 | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | Book value prior to purchase accounting adjustements | Accrued Income Receivable | ||||||
Business Acquisition | ||||||
Receivables | 7,808 | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | Book value prior to purchase accounting adjustements | Loans | ||||||
Business Acquisition | ||||||
Receivables | 1,679,792 | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | Book value prior to purchase accounting adjustements | Available For Sale Securities | ||||||
Business Acquisition | ||||||
Investments | 172,706 | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | Book value prior to purchase accounting adjustements | Receivable from the FDIC | ||||||
Business Acquisition | ||||||
Receivables | 0 | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | Book value prior to purchase accounting adjustements | Deposits | ||||||
Business Acquisition | ||||||
Liabilities | 2,193,404 | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | Book value prior to purchase accounting adjustements | Advances from the Federal Home Loan Bank | ||||||
Business Acquisition | ||||||
Liabilities | 542,000 | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | Book value prior to purchase accounting adjustements | Other liabilities | ||||||
Business Acquisition | ||||||
Liabilities | 50,728 | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | Fair value adjustment | ||||||
Business Acquisition | ||||||
Cash and due from banks | 0 | |||||
Core deposits intangibles | (10,762) | |||||
Other assets | 7,569 | |||||
Total assets excluding goodwill | (169,118) | |||||
Total liabilities | 14,663 | |||||
Aggregate fair value adjustments | (183,781) | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | Fair value adjustment | Investment in Federal Home Loan Bank Stock | ||||||
Business Acquisition | ||||||
Investments | 0 | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | Fair value adjustment | Accrued Income Receivable | ||||||
Business Acquisition | ||||||
Receivables | 0 | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | Fair value adjustment | Loans | ||||||
Business Acquisition | ||||||
Receivables | (165,925) | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | Fair value adjustment | Available For Sale Securities | ||||||
Business Acquisition | ||||||
Investments | 0 | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | Fair value adjustment | Receivable from the FDIC | ||||||
Business Acquisition | ||||||
Receivables | 0 | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | Fair value adjustment | Deposits | ||||||
Business Acquisition | ||||||
Liabilities | 9,987 | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | Fair value adjustment | Advances from the Federal Home Loan Bank | ||||||
Business Acquisition | ||||||
Liabilities | 5,187 | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | Fair value adjustment | Other liabilities | ||||||
Business Acquisition | ||||||
Liabilities | (511) | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | Additional consideration | ||||||
Business Acquisition | ||||||
Cash and due from banks | [1] | 0 | ||||
Core deposits intangibles | [1] | 0 | ||||
Other assets | [1] | 0 | ||||
Total assets excluding goodwill | [1] | 480,137 | ||||
Total liabilities | [1] | 0 | ||||
Additional consideration | [1] | 480,137 | ||||
FDIC Assisted Partial Acquisition Of Doral Bank | Additional consideration | Investment in Federal Home Loan Bank Stock | ||||||
Business Acquisition | ||||||
Investments | [1] | 0 | ||||
FDIC Assisted Partial Acquisition Of Doral Bank | Additional consideration | Accrued Income Receivable | ||||||
Business Acquisition | ||||||
Receivables | [1] | 0 | ||||
FDIC Assisted Partial Acquisition Of Doral Bank | Additional consideration | Loans | ||||||
Business Acquisition | ||||||
Receivables | [1] | 0 | ||||
FDIC Assisted Partial Acquisition Of Doral Bank | Additional consideration | Available For Sale Securities | ||||||
Business Acquisition | ||||||
Investments | [1] | 0 | ||||
FDIC Assisted Partial Acquisition Of Doral Bank | Additional consideration | Receivable from the FDIC | ||||||
Business Acquisition | ||||||
Receivables | [1] | 480,137 | ||||
FDIC Assisted Partial Acquisition Of Doral Bank | Additional consideration | Deposits | ||||||
Business Acquisition | ||||||
Liabilities | [1] | 0 | ||||
FDIC Assisted Partial Acquisition Of Doral Bank | Additional consideration | Advances from the Federal Home Loan Bank | ||||||
Business Acquisition | ||||||
Liabilities | [1] | 0 | ||||
FDIC Assisted Partial Acquisition Of Doral Bank | Additional consideration | Other liabilities | ||||||
Business Acquisition | ||||||
Liabilities | [1] | 0 | ||||
FDIC Assisted Partial Acquisition Of Doral Bank | As recorded | ||||||
Business Acquisition | ||||||
Cash and due from banks | 339,633 | |||||
Core deposits intangibles | 12,810 | |||||
Other assets | 75,245 | |||||
Total assets excluding goodwill | 2,632,991 | |||||
Total liabilities | 2,800,795 | |||||
Goodwill | 167,804 | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | As recorded | Investment in Federal Home Loan Bank Stock | ||||||
Business Acquisition | ||||||
Investments | 30,785 | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | As recorded | Accrued Income Receivable | ||||||
Business Acquisition | ||||||
Receivables | 7,808 | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | As recorded | Loans | ||||||
Business Acquisition | ||||||
Receivables | 1,513,867 | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | As recorded | Available For Sale Securities | ||||||
Business Acquisition | ||||||
Investments | 172,706 | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | As recorded | Receivable from the FDIC | ||||||
Business Acquisition | ||||||
Receivables | 480,137 | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | As recorded | Deposits | ||||||
Business Acquisition | ||||||
Liabilities | 2,203,391 | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | As recorded | Advances from the Federal Home Loan Bank | ||||||
Business Acquisition | ||||||
Liabilities | 547,187 | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | As recorded | Other liabilities | ||||||
Business Acquisition | ||||||
Liabilities | $ 50,217 | |||||
[1] | The additional consideration represents the cash to be received from the FDIC for the difference between the net liabilities assumed and the net premium paid on the transaction. |
Note Business Combination (Fa80
Note Business Combination (Fair values of major classes of identifiable assets acquired and liabilities assumed - Recasted) (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Feb. 27, 2015 | Dec. 31, 2014 | |
Business Acquisition | ||||||
Goodwill | $ 631,095 | $ 626,388 | $ 508,310 | $ 465,676 | ||
FDIC Assisted Partial Acquisition Of Doral Bank | As recasted | ||||||
Business Acquisition | ||||||
Goodwill | [1] | $ 167,804 | ||||
FDIC Assisted Partial Acquisition Of Doral Bank | As previously reported | ||||||
Business Acquisition | ||||||
Goodwill | [2] | 41,633 | ||||
Core deposits intangibles | [2] | 23,572 | ||||
Other assets | [2] | 626,177 | ||||
Total assets | [2] | 2,798,859 | ||||
Total liabilities | [2] | 2,798,859 | ||||
FDIC Assisted Partial Acquisition Of Doral Bank | Loans | ||||||
Business Acquisition | ||||||
Change | (151,889) | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | Loans | As recasted | ||||||
Business Acquisition | ||||||
Receivables | [1] | 1,513,867 | ||||
FDIC Assisted Partial Acquisition Of Doral Bank | Loans | As previously reported | ||||||
Business Acquisition | ||||||
Receivables | [2] | 1,665,756 | ||||
FDIC Assisted Partial Acquisition Of Doral Bank | Goodwill | ||||||
Business Acquisition | ||||||
Change | 126,171 | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | Receivable from the FDIC | ||||||
Business Acquisition | ||||||
Change | 38,416 | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | Receivable from the FDIC | As recasted | ||||||
Business Acquisition | ||||||
Receivables | [1] | 480,137 | ||||
FDIC Assisted Partial Acquisition Of Doral Bank | Receivable from the FDIC | As previously reported | ||||||
Business Acquisition | ||||||
Receivables | [2] | 441,721 | ||||
FDIC Assisted Partial Acquisition Of Doral Bank | Core deposits | ||||||
Business Acquisition | ||||||
Change | (10,762) | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | Core deposits | As recasted | ||||||
Business Acquisition | ||||||
Core deposits intangibles | [1] | 12,810 | ||||
FDIC Assisted Partial Acquisition Of Doral Bank | Other assets | ||||||
Business Acquisition | ||||||
Change | 0 | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | Other assets | As recasted | ||||||
Business Acquisition | ||||||
Other assets | [1] | 626,177 | ||||
FDIC Assisted Partial Acquisition Of Doral Bank | Total assets | ||||||
Business Acquisition | ||||||
Change | 1,936 | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | Total assets | As recasted | ||||||
Business Acquisition | ||||||
Total assets | [1] | 2,800,795 | ||||
FDIC Assisted Partial Acquisition Of Doral Bank | Deposits | ||||||
Business Acquisition | ||||||
Change | 1,936 | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | Deposits | As recasted | ||||||
Business Acquisition | ||||||
Liabilities | [1] | 2,203,391 | ||||
FDIC Assisted Partial Acquisition Of Doral Bank | Deposits | As previously reported | ||||||
Business Acquisition | ||||||
Liabilities | [2] | 2,201,455 | ||||
FDIC Assisted Partial Acquisition Of Doral Bank | Advances from the Federal Home Loan Bank | ||||||
Business Acquisition | ||||||
Change | 0 | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | Advances from the Federal Home Loan Bank | As recasted | ||||||
Business Acquisition | ||||||
Liabilities | [1] | 547,187 | ||||
FDIC Assisted Partial Acquisition Of Doral Bank | Advances from the Federal Home Loan Bank | As previously reported | ||||||
Business Acquisition | ||||||
Liabilities | [2] | 547,187 | ||||
FDIC Assisted Partial Acquisition Of Doral Bank | Other liabilities | ||||||
Business Acquisition | ||||||
Change | 0 | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | Other liabilities | As recasted | ||||||
Business Acquisition | ||||||
Liabilities | [1] | 50,217 | ||||
FDIC Assisted Partial Acquisition Of Doral Bank | Other liabilities | As previously reported | ||||||
Business Acquisition | ||||||
Liabilities | [2] | 50,217 | ||||
FDIC Assisted Partial Acquisition Of Doral Bank | Total liabilities | ||||||
Business Acquisition | ||||||
Change | 1,936 | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | Total liabilities | As recasted | ||||||
Business Acquisition | ||||||
Total liabilities | [1] | $ 2,800,795 | ||||
[1] | Amounts reported include retrospective adjustments during the measurement period, in accordance with U.S. GAAP, related to the Doral Bank Transaction. | |||||
[2] | Amounts are presented as previously reported in the Form 10-Q as of September 30, 2015. |
Note Business Combination (Impa
Note Business Combination (Impact in the results of operations as a result of the recasting) (Detail) - FDIC Assisted Partial Acquisition Of Doral Bank $ in Thousands | 3 Months Ended |
Mar. 31, 2015USD ($) | |
Net Interest Income | |
Business Acquisition | |
Difference | $ 538 |
Noninterest Income | |
Business Acquisition | |
Difference | 0 |
Operating Expenses | |
Business Acquisition | |
Difference | (90) |
Income Before Tax | |
Business Acquisition | |
Difference | 628 |
As recasted | |
Business Acquisition | |
Net interest income | 10,306 |
Non interest Income | 4,262 |
Operating expenses | 14,398 |
Income (loss) from continuing operations before income tax | 170 |
As previously reported | |
Business Acquisition | |
Net interest income | 9,768 |
Non interest Income | 4,262 |
Operating expenses | 14,488 |
Income (loss) from continuing operations before income tax | $ (458) |
Note Business Combination - Add
Note Business Combination - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Business Acquisition | ||
Goodwill Purchase Accounting Adjustments | $ 4,707 | $ 0 |
FDIC Assisted Partial Acquisition Of Doral Bank | ||
Business Acquisition | ||
Business Acquisition Name Of Acquired Entity | Doral Bank | |
Business Acquisition Date Of Acquisition Agreement1 | Feb. 27, 2015 | |
FDIC Assisted Partial Acquisition Of Doral Bank | Income Before Tax | ||
Business Acquisition | ||
Change | $ 628 | |
FDIC Assisted Partial Acquisition Of Doral Bank | Fair value adjustment | Doral Bank Transaction MSR FV Retro Adjustment | ||
Business Acquisition | ||
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets Other | $ (2,100) | |
FDIC Assisted Partial Acquisition Of Doral Bank | Fair value adjustment | Doral Bank Transaction Deposits Premium FV Retro Adjustment | ||
Business Acquisition | ||
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets | 2,600 | |
FDIC Assisted Partial Acquisition Of Doral Bank | Fair value adjustment | Doral Bank Transaction Other Liabilities FV Retro Adjustment | ||
Business Acquisition | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Liabilities | $ (500) |
Note Restrictions on cash and d
Note Restrictions on cash and due from banks and certain securities - Additional Information (Detail) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Disclosure - Restrictions on Cash and Due from Banks and Certain Securities - Additional Information [Abstract] | ||
Average Reserve Required With Federal Reserve Bank | $ 1,100 | $ 1,100 |
Restricted Cash And Cash Equivalents | $ 52 | $ 44 |
Note Investment Securities Avai
Note Investment Securities Available for Sale (Amortized cost, gross unrealized gains and losses, approximate fair value, weighted average yield and contractual maturities of investment securities AFS) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2016 | Dec. 31, 2015 | |||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 6,583,611 | [1] | $ 6,073,005 | [2] |
Gross Unrealized Gains | 87,096 | 53,350 | ||
Gross Unrealized Losses | 20,877 | 63,363 | ||
Investment securities available-for-sale, at fair value | $ 6,649,830 | [1] | $ 6,062,992 | [2] |
Weighted Average Yield | 2.07% | 2.07% | ||
US Treasury Securities | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 1,316,085 | $ 1,184,605 | ||
Gross Unrealized Gains | 7,267 | 722 | ||
Gross Unrealized Losses | 0 | 1,999 | ||
Investment securities available-for-sale, at fair value | $ 1,323,352 | $ 1,183,328 | ||
Weighted Average Yield | 1.11% | 1.11% | ||
US Treasury Securities | Within 1 year | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 24,665 | $ 24,861 | ||
Gross Unrealized Gains | 143 | 335 | ||
Gross Unrealized Losses | 0 | 0 | ||
Investment securities available-for-sale, at fair value | $ 24,808 | $ 25,196 | ||
Weighted Average Yield | 4.92% | 4.31% | ||
US Treasury Securities | After 1 and within 5 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 1,281,481 | $ 1,149,807 | ||
Gross Unrealized Gains | 6,792 | 365 | ||
Gross Unrealized Losses | 0 | 1,999 | ||
Investment securities available-for-sale, at fair value | $ 1,288,273 | $ 1,148,173 | ||
Weighted Average Yield | 1.03% | 1.03% | ||
US Treasury Securities | After 5 to 10 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 9,939 | $ 9,937 | ||
Gross Unrealized Gains | 332 | 22 | ||
Gross Unrealized Losses | 0 | 0 | ||
Investment securities available-for-sale, at fair value | $ 10,271 | $ 9,959 | ||
Weighted Average Yield | 1.99% | 1.99% | ||
Obligations of U.S. Government sponsored entities | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 927,881 | $ 943,069 | ||
Gross Unrealized Gains | 5,224 | 1,380 | ||
Gross Unrealized Losses | 167 | 4,808 | ||
Investment securities available-for-sale, at fair value | $ 932,938 | $ 939,641 | ||
Weighted Average Yield | 1.38% | 1.38% | ||
Obligations of U.S. Government sponsored entities | After 1 and within 5 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 904,631 | $ 919,819 | ||
Gross Unrealized Gains | 5,221 | 1,337 | ||
Gross Unrealized Losses | 109 | 4,808 | ||
Investment securities available-for-sale, at fair value | $ 909,743 | $ 916,348 | ||
Weighted Average Yield | 1.33% | 1.33% | ||
Obligations of U.S. Government sponsored entities | After 5 to 10 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 250 | $ 250 | ||
Gross Unrealized Gains | 3 | 1 | ||
Gross Unrealized Losses | 0 | 0 | ||
Investment securities available-for-sale, at fair value | $ 253 | $ 251 | ||
Weighted Average Yield | 5.64% | 5.64% | ||
Obligations of U.S. Government sponsored entities | After 10 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 23,000 | $ 23,000 | ||
Gross Unrealized Gains | 0 | 42 | ||
Gross Unrealized Losses | 58 | 0 | ||
Investment securities available-for-sale, at fair value | $ 22,942 | $ 23,042 | ||
Weighted Average Yield | 3.24% | 3.22% | ||
Obligations of Puerto Rico, States and political subdivisions | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 31,821 | $ 31,737 | ||
Gross Unrealized Gains | 2 | 0 | ||
Gross Unrealized Losses | 8,093 | 9,378 | ||
Investment securities available-for-sale, at fair value | $ 23,730 | $ 22,359 | ||
Weighted Average Yield | 5.72% | 5.74% | ||
Obligations of Puerto Rico, States and political subdivisions | After 1 and within 5 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 7,292 | $ 7,227 | ||
Gross Unrealized Gains | 0 | 0 | ||
Gross Unrealized Losses | 176 | 199 | ||
Investment securities available-for-sale, at fair value | $ 7,116 | $ 7,028 | ||
Weighted Average Yield | 3.88% | 3.94% | ||
Obligations of Puerto Rico, States and political subdivisions | After 5 to 10 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 5,925 | $ 5,925 | ||
Gross Unrealized Gains | 1 | 0 | ||
Gross Unrealized Losses | 1,963 | 2,200 | ||
Investment securities available-for-sale, at fair value | $ 3,963 | $ 3,725 | ||
Weighted Average Yield | 4.02% | 4.02% | ||
Obligations of Puerto Rico, States and political subdivisions | After 10 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 18,604 | $ 18,585 | ||
Gross Unrealized Gains | 1 | 0 | ||
Gross Unrealized Losses | 5,954 | 6,979 | ||
Investment securities available-for-sale, at fair value | $ 12,651 | $ 11,606 | ||
Weighted Average Yield | 6.99% | 6.99% | ||
Collateralized Mortgage Obligations - Federal agencies | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 1,509,133 | $ 1,584,693 | ||
Gross Unrealized Gains | 15,763 | 9,464 | ||
Gross Unrealized Losses | 11,325 | 33,320 | ||
Investment securities available-for-sale, at fair value | $ 1,513,571 | $ 1,560,837 | ||
Weighted Average Yield | 2.01% | 2.02% | ||
Collateralized Mortgage Obligations - Federal agencies | Within 1 year | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 282 | |||
Gross Unrealized Gains | 0 | |||
Gross Unrealized Losses | 0 | |||
Investment securities available-for-sale, at fair value | $ 282 | |||
Weighted Average Yield | 0.95% | |||
Collateralized Mortgage Obligations - Federal agencies | After 1 and within 5 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 20,257 | $ 21,446 | ||
Gross Unrealized Gains | 918 | 594 | ||
Gross Unrealized Losses | 0 | 37 | ||
Investment securities available-for-sale, at fair value | $ 21,175 | $ 22,003 | ||
Weighted Average Yield | 2.86% | 2.81% | ||
Collateralized Mortgage Obligations - Federal agencies | After 5 to 10 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 41,078 | $ 44,585 | ||
Gross Unrealized Gains | 818 | 733 | ||
Gross Unrealized Losses | 0 | 0 | ||
Investment securities available-for-sale, at fair value | $ 41,896 | $ 45,318 | ||
Weighted Average Yield | 2.86% | 2.85% | ||
Collateralized Mortgage Obligations - Federal agencies | After 10 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 1,447,516 | $ 1,518,662 | ||
Gross Unrealized Gains | 14,027 | 8,137 | ||
Gross Unrealized Losses | 11,325 | 33,283 | ||
Investment securities available-for-sale, at fair value | $ 1,450,218 | $ 1,493,516 | ||
Weighted Average Yield | 1.98% | 1.99% | ||
Mortgage Backed Securities | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 2,787,301 | $ 2,317,329 | ||
Gross Unrealized Gains | 57,695 | 40,692 | ||
Gross Unrealized Losses | 1,290 | 13,825 | ||
Investment securities available-for-sale, at fair value | $ 2,843,706 | $ 2,344,196 | ||
Weighted Average Yield | 2.74% | 2.81% | ||
Mortgage Backed Securities | Within 1 year | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 25 | |||
Gross Unrealized Gains | 0 | |||
Gross Unrealized Losses | 0 | |||
Investment securities available-for-sale, at fair value | $ 25 | |||
Weighted Average Yield | 4.80% | |||
Mortgage Backed Securities | After 1 and within 5 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 20,808 | $ 22,015 | ||
Gross Unrealized Gains | 990 | 987 | ||
Gross Unrealized Losses | 6 | 8 | ||
Investment securities available-for-sale, at fair value | $ 21,792 | $ 22,994 | ||
Weighted Average Yield | 4.64% | 4.65% | ||
Mortgage Backed Securities | After 5 to 10 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 281,359 | $ 256,097 | ||
Gross Unrealized Gains | 6,195 | 4,866 | ||
Gross Unrealized Losses | 2 | 1,197 | ||
Investment securities available-for-sale, at fair value | $ 287,552 | $ 259,766 | ||
Weighted Average Yield | 2.43% | 2.51% | ||
Mortgage Backed Securities | After 10 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 2,485,109 | $ 2,039,217 | ||
Gross Unrealized Gains | 50,510 | 34,839 | ||
Gross Unrealized Losses | 1,282 | 12,620 | ||
Investment securities available-for-sale, at fair value | $ 2,534,337 | $ 2,061,436 | ||
Weighted Average Yield | 2.76% | 2.83% | ||
Equity securities | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 1,351 | $ 1,350 | ||
Gross Unrealized Gains | 1,090 | 1,053 | ||
Gross Unrealized Losses | 2 | 5 | ||
Investment securities available-for-sale, at fair value | $ 2,439 | $ 2,398 | ||
Weighted Average Yield | 7.82% | 7.92% | ||
Other | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 10,039 | $ 10,222 | ||
Gross Unrealized Gains | 55 | 39 | ||
Gross Unrealized Losses | 0 | 28 | ||
Investment securities available-for-sale, at fair value | $ 10,094 | $ 10,233 | ||
Weighted Average Yield | 1.95% | 1.95% | ||
Other | After 1 and within 5 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 8,819 | $ 8,911 | ||
Gross Unrealized Gains | 10 | 0 | ||
Gross Unrealized Losses | 0 | 28 | ||
Investment securities available-for-sale, at fair value | $ 8,829 | $ 8,883 | ||
Weighted Average Yield | 1.72% | 1.71% | ||
Other | After 5 to 10 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 1,220 | $ 1,311 | ||
Gross Unrealized Gains | 45 | 39 | ||
Gross Unrealized Losses | 0 | 0 | ||
Investment securities available-for-sale, at fair value | $ 1,265 | $ 1,350 | ||
Weighted Average Yield | 3.62% | 3.62% | ||
[1] | Includes $2.2 billion pledged to secure public and trust deposits, assets sold under agreements to repurchase, credit facilities and loan servicing agreements that the secured parties are not permitted to sell or repledge the collateral, of which $1.3 billion serve as collateral for public funds. | |||
[2] | Includes $2.4 billion pledged to secure public and trust deposits, assets sold under agreements to repurchase, credit facilities and loan servicing agreements that the secured parties are not permitted to sell or repledge the collateral, of which $1.5 billion serve as collateral for public funds. |
Note Investment Securities Av85
Note Investment Securities Available for Sale (Amortized cost, gross unrealized gains and losses, approximate fair value, weighted average yield and contractual maturities of investment securities AFS) (Parenthetical) (Detail) - USD ($) $ in Billions | Mar. 31, 2016 | Dec. 31, 2015 |
Available For Sale Securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Pledged Financial Instruments, Not Separately Reported, Securities | $ 2.2 | $ 2.4 |
Securities Investment | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Pledged Financial Instruments, Not Separately Reported, Securities for Other Debt Facilities | $ 1.3 | $ 1.5 |
Note Investment Securities Av86
Note Investment Securities Available for Sale (AFS securities in a continuous unrealized loss position) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months Fair Value | $ 311,324 | $ 2,962,984 |
Less than 12 months Gross Unrealized Losses | 941 | 21,762 |
12 months or more Fair Value | 771,867 | 1,037,791 |
12 months or more Gross Unrealized Losses | 19,936 | 41,601 |
Total Fair Value | 1,083,191 | 4,000,775 |
Total Gross Unrealized Losses | 20,877 | 63,363 |
US Treasury Securities | ||
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months Fair Value | 589,689 | |
Less than 12 months Gross Unrealized Losses | 1,999 | |
12 months or more Fair Value | 0 | |
12 months or more Gross Unrealized Losses | 0 | |
Total Fair Value | 589,689 | |
Total Gross Unrealized Losses | 1,999 | |
Obligations of U.S. Government sponsored entities | ||
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months Fair Value | 73,342 | 390,319 |
Less than 12 months Gross Unrealized Losses | 113 | 2,128 |
12 months or more Fair Value | 19,376 | 181,744 |
12 months or more Gross Unrealized Losses | 54 | 2,680 |
Total Fair Value | 92,718 | 572,063 |
Total Gross Unrealized Losses | 167 | 4,808 |
Obligations of Puerto Rico, States and political subdivisions | ||
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months Fair Value | 6,229 | 884 |
Less than 12 months Gross Unrealized Losses | 10 | 164 |
12 months or more Fair Value | 15,515 | 19,490 |
12 months or more Gross Unrealized Losses | 8,083 | 9,214 |
Total Fair Value | 21,744 | 20,374 |
Total Gross Unrealized Losses | 8,093 | 9,378 |
Collateralized Mortgage Obligations - Federal agencies | ||
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months Fair Value | 0 | 331,501 |
Less than 12 months Gross Unrealized Losses | 0 | 4,446 |
12 months or more Fair Value | 656,971 | 814,195 |
12 months or more Gross Unrealized Losses | 11,325 | 28,874 |
Total Fair Value | 656,971 | 1,145,696 |
Total Gross Unrealized Losses | 11,325 | 33,320 |
Mortgage Backed Securities | ||
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months Fair Value | 231,705 | 1,641,663 |
Less than 12 months Gross Unrealized Losses | 816 | 12,992 |
12 months or more Fair Value | 80,005 | 22,362 |
12 months or more Gross Unrealized Losses | 474 | 833 |
Total Fair Value | 311,710 | 1,664,025 |
Total Gross Unrealized Losses | 1,290 | 13,825 |
Equity securities | ||
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months Fair Value | 48 | 45 |
Less than 12 months Gross Unrealized Losses | 2 | 5 |
12 months or more Fair Value | 0 | 0 |
12 months or more Gross Unrealized Losses | 0 | 0 |
Total Fair Value | 48 | 45 |
Total Gross Unrealized Losses | $ 2 | 5 |
Other | ||
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months Fair Value | 8,883 | |
Less than 12 months Gross Unrealized Losses | 28 | |
12 months or more Fair Value | 0 | |
12 months or more Gross Unrealized Losses | 0 | |
Total Fair Value | 8,883 | |
Total Gross Unrealized Losses | $ 28 |
Note Investment Securities Av87
Note Investment Securities Available for Sale (Name of issuers, and the aggregate amortized cost and fair value of the securities of such issuer, in which the aggregate amortized cost exceeds 10% of stockholders' equity) (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
FNMA | ||
Investment Holdings [Line Items] | ||
Amortized Cost | $ 2,799,998 | $ 2,649,860 |
Fair Value | 2,824,458 | 2,633,899 |
FHLB | ||
Investment Holdings [Line Items] | ||
Amortized Cost | 329,822 | 340,119 |
Fair Value | 331,546 | 338,700 |
Freddie Mac | ||
Investment Holdings [Line Items] | ||
Amortized Cost | 1,221,128 | 1,088,691 |
Fair Value | $ 1,228,096 | $ 1,079,956 |
Note Investment Securities Av88
Note Investment Securities Available for Sale (Investment securities available- for-sale - Additional Information) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross Unrealized Losses | $ 20,877 | $ 63,363 |
Note Investment Securities Held
Note Investment Securities Held-to-maturity (Amortized cost, gross unrealized gains and losses, approximate fair value, weighted average yield and contractual maturities of investment securities HTM) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2016 | Dec. 31, 2015 | |||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Amortized Cost | $ 99,216 | [1] | $ 100,903 | [2] |
Gross Unrealized Gains | 5,271 | 3,609 | ||
Gross Unrealized Losses | 23,573 | 21,623 | ||
Investment securities held-to-maturity, fair value | $ 80,914 | [1] | $ 82,889 | [2] |
Weighted Average Yield | 3.49% | 3.52% | ||
Obligations of Puerto Rico, States and political subdivisions | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Amortized Cost | $ 97,130 | $ 98,817 | ||
Gross Unrealized Gains | 5,266 | 3,604 | ||
Gross Unrealized Losses | 23,547 | 21,606 | ||
Investment securities held-to-maturity, fair value | $ 78,849 | $ 80,815 | ||
Weighted Average Yield | 3.52% | 3.55% | ||
Obligations of Puerto Rico, States and political subdivisions | Within 1 year | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Amortized Cost | $ 3,050 | $ 2,920 | ||
Gross Unrealized Gains | 0 | 0 | ||
Gross Unrealized Losses | 1,601 | 291 | ||
Investment securities held-to-maturity, fair value | $ 1,449 | $ 2,629 | ||
Weighted Average Yield | 5.91% | 5.90% | ||
Obligations of Puerto Rico, States and political subdivisions | After 1 and within 5 years | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Amortized Cost | $ 14,270 | $ 13,655 | ||
Gross Unrealized Gains | 0 | 0 | ||
Gross Unrealized Losses | 5,910 | 5,015 | ||
Investment securities held-to-maturity, fair value | $ 8,360 | $ 8,640 | ||
Weighted Average Yield | 6.00% | 5.98% | ||
Obligations of Puerto Rico, States and political subdivisions | After 5 to 10 years | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Amortized Cost | $ 18,930 | $ 20,020 | ||
Gross Unrealized Gains | 0 | 0 | ||
Gross Unrealized Losses | 7,716 | 8,020 | ||
Investment securities held-to-maturity, fair value | $ 11,214 | $ 12,000 | ||
Weighted Average Yield | 6.17% | 6.14% | ||
Obligations of Puerto Rico, States and political subdivisions | After 10 years | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Amortized Cost | $ 60,880 | $ 62,222 | ||
Gross Unrealized Gains | 5,266 | 3,604 | ||
Gross Unrealized Losses | 8,320 | 8,280 | ||
Investment securities held-to-maturity, fair value | $ 57,826 | $ 57,546 | ||
Weighted Average Yield | 1.99% | 2.08% | ||
Collateralized Mortgage Obligations - Federal agencies | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Amortized Cost | $ 86 | $ 86 | ||
Gross Unrealized Gains | 5 | 5 | ||
Gross Unrealized Losses | 0 | 0 | ||
Investment securities held-to-maturity, fair value | $ 91 | $ 91 | ||
Weighted Average Yield | 5.45% | 5.45% | ||
Collateralized Mortgage Obligations - Federal agencies | After 5 to 10 years | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Amortized Cost | $ 86 | $ 86 | ||
Gross Unrealized Gains | 5 | 5 | ||
Gross Unrealized Losses | 0 | 0 | ||
Investment securities held-to-maturity, fair value | $ 91 | $ 91 | ||
Weighted Average Yield | 5.45% | 5.45% | ||
Other | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Amortized Cost | $ 2,000 | $ 2,000 | ||
Gross Unrealized Gains | 0 | 0 | ||
Gross Unrealized Losses | 26 | 17 | ||
Investment securities held-to-maturity, fair value | $ 1,974 | $ 1,983 | ||
Weighted Average Yield | 1.81% | 1.81% | ||
Other | After 1 and within 5 years | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Amortized Cost | $ 2,000 | $ 2,000 | ||
Gross Unrealized Gains | 0 | 0 | ||
Gross Unrealized Losses | 26 | 17 | ||
Investment securities held-to-maturity, fair value | $ 1,974 | $ 1,983 | ||
Weighted Average Yield | 1.81% | 1.81% | ||
[1] | Includes $97.5 million pledged to secure public and trust deposits that the secured parties are not permitted to sell or repledge the collateral. | |||
[2] | Includes $57.2 million pledged to secure public and trust deposits that the secured parties are not permitted to sell or repledge the collateral. |
Note Investment Securities He90
Note Investment Securities Held-to-maturity (Amortized cost, gross unrealized gains and losses, approximate fair value, weighted average yield and contractual maturities of investment securities HTM) (Parenthetical) (Detail) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Held To Maturity Securities Member | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Pledged Financial Instruments, Not Separately Reported, Other Debt Securities Held-to-maturity | $ 97.5 | $ 57.2 |
Note Investment Securities He91
Note Investment Securities Held-to-maturity (HTM securities in a continuous unrealized loss position) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months Fair Value | $ 1,724 | $ 1,483 |
Less than 12 months Gross Unrealized Losses | 26 | 17 |
12 months or more Fair Value | 31,393 | 33,334 |
12 months or more Gross Unrealized Losses | 23,547 | 21,606 |
Total Fair Value | 33,117 | 34,817 |
Total Gross Unrealized Losses | 23,573 | 21,623 |
Obligations of Puerto Rico, States and political subdivisions | ||
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months Fair Value | 0 | 0 |
Less than 12 months Gross Unrealized Losses | 0 | 0 |
12 months or more Fair Value | 31,393 | 33,334 |
12 months or more Gross Unrealized Losses | 23,547 | 21,606 |
Total Fair Value | 31,393 | 33,334 |
Total Gross Unrealized Losses | 23,547 | 21,606 |
Other | ||
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months Fair Value | 1,724 | 1,483 |
Less than 12 months Gross Unrealized Losses | 26 | 17 |
12 months or more Fair Value | 0 | 0 |
12 months or more Gross Unrealized Losses | 0 | 0 |
Total Fair Value | 1,724 | 1,483 |
Total Gross Unrealized Losses | $ 26 | $ 17 |
Note Investment Securities He92
Note Investment Securities Held-to-maturity (Investments held-to-maturity-Additional Information) (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | ||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Amortized Cost | $ 99,216 | [1] | $ 100,903 | [2] |
Obligations of Puerto Rico, States and political subdivisions | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Amortized Cost | 97,130 | $ 98,817 | ||
Obligations of Puerto Rico, States and political subdivisions | Munis Payable From Real and Personal Property Taxes | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Amortized Cost | 55,000 | |||
Obligations of Puerto Rico, States and political subdivisions | Munis Not Guaranteed By Puerto Rico Central Government | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Amortized Cost | $ 42,000 | |||
[1] | Includes $97.5 million pledged to secure public and trust deposits that the secured parties are not permitted to sell or repledge the collateral. | |||
[2] | Includes $57.2 million pledged to secure public and trust deposits that the secured parties are not permitted to sell or repledge the collateral. |
Note Loans (Loans by past due s
Note Loans (Loans by past due status for non-covered loans held-in-portfolio (Net of unearned income)) (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | $ 22,507,737 | [1],[2] | $ 22,346,115 | [3],[4] | |
Commercial multi-family | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 937,205 | 826,079 | |||
CRE non-owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 3,650,101 | 3,632,115 | |||
CRE owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 2,091,590 | 2,111,588 | |||
Commercial and industrial | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 3,549,493 | 3,529,381 | |||
Construction | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 734,858 | 681,106 | |||
Mortgages | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 6,979,201 | 7,036,081 | |||
Leasing | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 643,142 | 627,650 | |||
Legacy | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | [5] | 61,044 | 64,436 | ||
Consumer | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 3,861,103 | 3,837,679 | |||
Non Covered Loans | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 559,451 | 640,788 | |||
Past Due 60-89 Days | 175,002 | 222,279 | |||
Past Due 90 Days or More | 1,314,406 | 1,316,245 | |||
Total Past Due | 2,048,859 | 2,179,312 | |||
Current | 20,458,878 | 20,166,803 | |||
Loans held-in-portfolio | 22,507,737 | 22,346,115 | |||
Non Covered Loans | Commercial multi-family | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 684 | 492 | |||
Past Due 60-89 Days | 168 | 470 | |||
Past Due 90 Days or More | 1,664 | 1,316 | |||
Total Past Due | 2,516 | 2,278 | |||
Current | 934,689 | 823,801 | |||
Loans held-in-portfolio | 937,205 | 826,079 | |||
Non Covered Loans | CRE non-owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 55,675 | 166,892 | |||
Past Due 60-89 Days | 3,102 | 12,520 | |||
Past Due 90 Days or More | 114,874 | 85,235 | |||
Total Past Due | 173,651 | 264,647 | |||
Current | 3,476,450 | 3,367,468 | |||
Loans held-in-portfolio | 3,650,101 | 3,632,115 | |||
Non Covered Loans | CRE owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 20,156 | 15,735 | |||
Past Due 60-89 Days | 6,608 | 6,053 | |||
Past Due 90 Days or More | 141,636 | 138,999 | |||
Total Past Due | 168,400 | 160,787 | |||
Current | 1,923,190 | 1,950,801 | |||
Loans held-in-portfolio | 2,091,590 | 2,111,588 | |||
Non Covered Loans | Commercial and industrial | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 24,202 | 19,657 | |||
Past Due 60-89 Days | 4,453 | 7,585 | |||
Past Due 90 Days or More | 123,615 | 114,039 | |||
Total Past Due | 152,270 | 141,281 | |||
Current | 3,397,223 | 3,388,100 | |||
Loans held-in-portfolio | 3,549,493 | 3,529,381 | |||
Non Covered Loans | Construction | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 15,769 | 238 | |||
Past Due 60-89 Days | 372 | 253 | |||
Past Due 90 Days or More | 13,804 | 13,738 | |||
Total Past Due | 29,945 | 14,229 | |||
Current | 704,913 | 666,877 | |||
Loans held-in-portfolio | 734,858 | 681,106 | |||
Non Covered Loans | Mortgages | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 371,190 | 363,815 | |||
Past Due 60-89 Days | 135,356 | 165,765 | |||
Past Due 90 Days or More | 835,509 | 877,407 | |||
Total Past Due | 1,342,055 | 1,406,987 | |||
Current | 5,637,146 | 5,629,094 | |||
Loans held-in-portfolio | 6,979,201 | 7,036,081 | |||
Non Covered Loans | Leasing | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 7,209 | 7,844 | |||
Past Due 60-89 Days | 1,598 | 1,630 | |||
Past Due 90 Days or More | 3,419 | 3,009 | |||
Total Past Due | 12,226 | 12,483 | |||
Current | 630,916 | 615,167 | |||
Loans held-in-portfolio | 643,142 | 627,650 | |||
Non Covered Loans | Legacy | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 3,119 | 1,160 | |||
Past Due 60-89 Days | 400 | 662 | |||
Past Due 90 Days or More | 4,046 | 3,649 | |||
Total Past Due | 7,565 | 5,471 | |||
Current | 53,479 | 58,965 | |||
Loans held-in-portfolio | 61,044 | 64,436 | |||
Non Covered Loans | Consumer | Credit cards | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 11,102 | 11,405 | |||
Past Due 60-89 Days | 7,316 | 9,548 | |||
Past Due 90 Days or More | 19,246 | 19,535 | |||
Total Past Due | 37,664 | 40,488 | |||
Current | 1,074,137 | 1,101,792 | |||
Loans held-in-portfolio | 1,111,801 | 1,142,280 | |||
Non Covered Loans | Consumer | Home equity lines of credit | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 1,783 | 3,335 | |||
Past Due 60-89 Days | 986 | 1,406 | |||
Past Due 90 Days or More | 4,589 | 4,570 | |||
Total Past Due | 7,358 | 9,311 | |||
Current | 296,531 | 305,861 | |||
Loans held-in-portfolio | 303,889 | 315,172 | |||
Non Covered Loans | Consumer | Personal | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 14,587 | 15,592 | |||
Past Due 60-89 Days | 8,332 | 8,579 | |||
Past Due 90 Days or More | 21,924 | 23,865 | |||
Total Past Due | 44,843 | 48,036 | |||
Current | 1,390,961 | 1,327,425 | |||
Loans held-in-portfolio | 1,435,804 | 1,375,461 | |||
Non Covered Loans | Consumer | Auto | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 32,638 | 33,554 | |||
Past Due 60-89 Days | 6,029 | 7,500 | |||
Past Due 90 Days or More | 10,850 | 11,646 | |||
Total Past Due | 49,517 | 52,700 | |||
Current | 776,812 | 763,278 | |||
Loans held-in-portfolio | 826,329 | 815,978 | |||
Non Covered Loans | Consumer | Other | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 1,337 | 1,069 | |||
Past Due 60-89 Days | 282 | 308 | |||
Past Due 90 Days or More | 19,230 | 19,237 | |||
Total Past Due | 20,849 | 20,614 | |||
Current | 162,431 | 168,174 | |||
Loans held-in-portfolio | 183,280 | 188,788 | |||
PUERTO RICO | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | [6] | 17,525,427 | 17,570,610 | ||
PUERTO RICO | Commercial multi-family | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | [6] | 174,651 | 132,146 | ||
PUERTO RICO | CRE non-owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | [6] | 2,659,453 | 2,669,092 | ||
PUERTO RICO | CRE owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | [6] | 1,867,789 | 1,909,244 | ||
PUERTO RICO | Commercial and industrial | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | [6] | 2,666,398 | 2,657,737 | ||
PUERTO RICO | Construction | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | [6] | 105,144 | 100,948 | ||
PUERTO RICO | Mortgages | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | [6] | 6,099,759 | 6,127,491 | ||
PUERTO RICO | Leasing | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | [6] | 643,142 | 627,650 | ||
PUERTO RICO | Consumer | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | [6] | 3,309,091 | 3,346,302 | ||
PUERTO RICO | Non Covered Loans | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 488,512 | 600,029 | |||
Past Due 60-89 Days | 172,291 | 214,037 | |||
Past Due 90 Days or More | 1,195,804 | 1,217,145 | |||
Total Past Due | 1,856,607 | 2,031,211 | |||
Current | 15,668,820 | 15,539,399 | |||
Loans held-in-portfolio | 17,525,427 | 17,570,610 | |||
PUERTO RICO | Non Covered Loans | Commercial multi-family | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 652 | 459 | |||
Past Due 60-89 Days | 168 | 217 | |||
Past Due 90 Days or More | 1,418 | 1,316 | |||
Total Past Due | 2,238 | 1,992 | |||
Current | 172,413 | 130,154 | |||
Loans held-in-portfolio | 174,651 | 132,146 | |||
PUERTO RICO | Non Covered Loans | CRE non-owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 46,119 | 166,732 | |||
Past Due 60-89 Days | 3,102 | 12,520 | |||
Past Due 90 Days or More | 103,719 | 84,982 | |||
Total Past Due | 152,940 | 264,234 | |||
Current | 2,506,513 | 2,404,858 | |||
Loans held-in-portfolio | 2,659,453 | 2,669,092 | |||
PUERTO RICO | Non Covered Loans | CRE owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 16,339 | 14,245 | |||
Past Due 60-89 Days | 6,608 | 5,624 | |||
Past Due 90 Days or More | 141,443 | 138,778 | |||
Total Past Due | 164,390 | 158,647 | |||
Current | 1,703,399 | 1,750,597 | |||
Loans held-in-portfolio | 1,867,789 | 1,909,244 | |||
PUERTO RICO | Non Covered Loans | Commercial and industrial | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 7,267 | 6,010 | |||
Past Due 60-89 Days | 4,297 | 6,059 | |||
Past Due 90 Days or More | 39,529 | 38,464 | |||
Total Past Due | 51,093 | 50,533 | |||
Current | 2,615,305 | 2,607,204 | |||
Loans held-in-portfolio | 2,666,398 | 2,657,737 | |||
PUERTO RICO | Non Covered Loans | Construction | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 678 | 238 | |||
Past Due 60-89 Days | 372 | 253 | |||
Past Due 90 Days or More | 13,133 | 13,738 | |||
Total Past Due | 14,183 | 14,229 | |||
Current | 90,961 | 86,719 | |||
Loans held-in-portfolio | 105,144 | 100,948 | |||
PUERTO RICO | Non Covered Loans | Mortgages | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 352,313 | 344,858 | |||
Past Due 60-89 Days | 134,842 | 162,341 | |||
Past Due 90 Days or More | 823,440 | 863,869 | |||
Total Past Due | 1,310,595 | 1,371,068 | |||
Current | 4,789,164 | 4,756,423 | |||
Loans held-in-portfolio | 6,099,759 | 6,127,491 | |||
PUERTO RICO | Non Covered Loans | Leasing | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 7,209 | 7,844 | |||
Past Due 60-89 Days | 1,598 | 1,630 | |||
Past Due 90 Days or More | 3,419 | 3,009 | |||
Total Past Due | 12,226 | 12,483 | |||
Current | 630,916 | 615,167 | |||
Loans held-in-portfolio | 643,142 | 627,650 | |||
PUERTO RICO | Non Covered Loans | Consumer | Credit cards | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 10,915 | 11,078 | |||
Past Due 60-89 Days | 7,159 | 9,414 | |||
Past Due 90 Days or More | 18,864 | 19,098 | |||
Total Past Due | 36,938 | 39,590 | |||
Current | 1,061,845 | 1,088,755 | |||
Loans held-in-portfolio | 1,098,783 | 1,128,345 | |||
PUERTO RICO | Non Covered Loans | Consumer | Home equity lines of credit | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 82 | 186 | |||
Past Due 60-89 Days | 141 | 292 | |||
Past Due 90 Days or More | 280 | 394 | |||
Total Past Due | 503 | 872 | |||
Current | 9,126 | 9,816 | |||
Loans held-in-portfolio | 9,629 | 10,688 | |||
PUERTO RICO | Non Covered Loans | Consumer | Personal | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 12,963 | 13,756 | |||
Past Due 60-89 Days | 7,693 | 7,889 | |||
Past Due 90 Days or More | 20,495 | 22,625 | |||
Total Past Due | 41,151 | 44,270 | |||
Current | 1,150,239 | 1,158,565 | |||
Loans held-in-portfolio | 1,191,390 | 1,202,835 | |||
PUERTO RICO | Non Covered Loans | Consumer | Auto | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 32,638 | 33,554 | |||
Past Due 60-89 Days | 6,029 | 7,500 | |||
Past Due 90 Days or More | 10,844 | 11,640 | |||
Total Past Due | 49,511 | 52,694 | |||
Current | 776,794 | 763,256 | |||
Loans held-in-portfolio | 826,305 | 815,950 | |||
PUERTO RICO | Non Covered Loans | Consumer | Other | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 1,337 | 1,069 | |||
Past Due 60-89 Days | 282 | 298 | |||
Past Due 90 Days or More | 19,220 | 19,232 | |||
Total Past Due | 20,839 | 20,599 | |||
Current | 162,145 | 167,885 | |||
Loans held-in-portfolio | 182,984 | 188,484 | |||
UNITED STATES | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 4,982,310 | 4,775,505 | |||
UNITED STATES | Commercial multi-family | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 762,554 | 693,933 | |||
UNITED STATES | CRE non-owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 990,648 | 963,023 | |||
UNITED STATES | CRE owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 223,801 | 202,344 | |||
UNITED STATES | Commercial and industrial | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 883,095 | 871,644 | |||
UNITED STATES | Construction | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 629,714 | 580,158 | |||
UNITED STATES | Mortgages | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 879,442 | 908,590 | |||
UNITED STATES | Legacy | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 61,044 | 64,436 | |||
UNITED STATES | Consumer | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 552,012 | 491,377 | |||
UNITED STATES | Non Covered Loans | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 70,939 | 40,759 | |||
Past Due 60-89 Days | 2,711 | 8,242 | |||
Past Due 90 Days or More | 118,602 | 99,100 | |||
Total Past Due | 192,252 | 148,101 | |||
Current | 4,790,058 | 4,627,404 | |||
Loans held-in-portfolio | 4,982,310 | 4,775,505 | |||
UNITED STATES | Non Covered Loans | Commercial multi-family | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 32 | 33 | |||
Past Due 60-89 Days | 0 | 253 | |||
Past Due 90 Days or More | 246 | 0 | |||
Total Past Due | 278 | 286 | |||
Current | 762,276 | 693,647 | |||
Loans held-in-portfolio | 762,554 | 693,933 | |||
UNITED STATES | Non Covered Loans | CRE non-owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 9,556 | 160 | |||
Past Due 60-89 Days | 0 | 0 | |||
Past Due 90 Days or More | 11,155 | 253 | |||
Total Past Due | 20,711 | 413 | |||
Current | 969,937 | 962,610 | |||
Loans held-in-portfolio | 990,648 | 963,023 | |||
UNITED STATES | Non Covered Loans | CRE owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 3,817 | 1,490 | |||
Past Due 60-89 Days | 0 | 429 | |||
Past Due 90 Days or More | 193 | 221 | |||
Total Past Due | 4,010 | 2,140 | |||
Current | 219,791 | 200,204 | |||
Loans held-in-portfolio | 223,801 | 202,344 | |||
UNITED STATES | Non Covered Loans | Commercial and industrial | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 16,935 | 13,647 | |||
Past Due 60-89 Days | 156 | 1,526 | |||
Past Due 90 Days or More | 84,086 | 75,575 | |||
Total Past Due | 101,177 | 90,748 | |||
Current | 781,918 | 780,896 | |||
Loans held-in-portfolio | 883,095 | 871,644 | |||
UNITED STATES | Non Covered Loans | Construction | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 15,091 | 0 | |||
Past Due 60-89 Days | 0 | 0 | |||
Past Due 90 Days or More | 671 | 0 | |||
Total Past Due | 15,762 | 0 | |||
Current | 613,952 | 580,158 | |||
Loans held-in-portfolio | 629,714 | 580,158 | |||
UNITED STATES | Non Covered Loans | Mortgages | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 18,877 | 18,957 | |||
Past Due 60-89 Days | 514 | 3,424 | |||
Past Due 90 Days or More | 12,069 | 13,538 | |||
Total Past Due | 31,460 | 35,919 | |||
Current | 847,982 | 872,671 | |||
Loans held-in-portfolio | 879,442 | 908,590 | |||
UNITED STATES | Non Covered Loans | Legacy | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 3,119 | 1,160 | |||
Past Due 60-89 Days | 400 | 662 | |||
Past Due 90 Days or More | 4,046 | 3,649 | |||
Total Past Due | 7,565 | 5,471 | |||
Current | 53,479 | 58,965 | |||
Loans held-in-portfolio | 61,044 | 64,436 | |||
UNITED STATES | Non Covered Loans | Consumer | Credit cards | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 187 | 327 | |||
Past Due 60-89 Days | 157 | 134 | |||
Past Due 90 Days or More | 382 | 437 | |||
Total Past Due | 726 | 898 | |||
Current | 12,292 | 13,037 | |||
Loans held-in-portfolio | 13,018 | 13,935 | |||
UNITED STATES | Non Covered Loans | Consumer | Home equity lines of credit | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 1,701 | 3,149 | |||
Past Due 60-89 Days | 845 | 1,114 | |||
Past Due 90 Days or More | 4,309 | 4,176 | |||
Total Past Due | 6,855 | 8,439 | |||
Current | 287,405 | 296,045 | |||
Loans held-in-portfolio | 294,260 | 304,484 | |||
UNITED STATES | Non Covered Loans | Consumer | Personal | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 1,624 | 1,836 | |||
Past Due 60-89 Days | 639 | 690 | |||
Past Due 90 Days or More | 1,429 | 1,240 | |||
Total Past Due | 3,692 | 3,766 | |||
Current | 240,722 | 168,860 | |||
Loans held-in-portfolio | 244,414 | 172,626 | |||
UNITED STATES | Non Covered Loans | Consumer | Auto | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 0 | 0 | |||
Past Due 60-89 Days | 0 | 0 | |||
Past Due 90 Days or More | 6 | 6 | |||
Total Past Due | 6 | 6 | |||
Current | 18 | 22 | |||
Loans held-in-portfolio | 24 | 28 | |||
UNITED STATES | Non Covered Loans | Consumer | Other | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due 30-59 Days | 0 | 0 | |||
Past Due 60-89 Days | 0 | 10 | |||
Past Due 90 Days or More | 10 | 5 | |||
Total Past Due | 10 | 15 | |||
Current | 286 | 289 | |||
Loans held-in-portfolio | $ 296 | $ 304 | |||
[1] | Includes $7.7 billion pledged to secure credit facilities and public funds that the secured parties are not permitted to sell or repledge the collateral, of which $4.7 billion were pledged at the FHLB as collateral for borrowings, $2.5 billion at the FRB for discount window borrowings and $0.5 billion serve as collateral for public funds. | ||||
[2] | Non-covered loans held-in-portfolio are net of $111 million in unearned income and exclude $125 million in loans held-for-sale. | ||||
[3] | Includes $7.3 billion pledged to secure credit facilities and public funds that the secured parties are not permitted to sell or repledge the collateral, of which $4.3 billion were pledged at the FHLB as collateral for borrowings, $2.5 billion at the FRB for discount window borrowings and $0.5 billion serve as collateral for public funds. | ||||
[4] | Non-covered loans held-in-portfolio are net of $108 million in unearned income and exclude $137 million in loans held-for-sale. | ||||
[5] | The legacy portfolio is comprised of commercial loans, construction loans and lease financings related to certain lending products exited by the Corporation as part of restructuring efforts carried out in prior years at the BPNA segment. | ||||
[6] | Excludes covered loans acquired in the Westernbank FDIC-assisted transaction. |
Note Loans (Loans by past due94
Note Loans (Loans by past due status for non-covered loans held-in-portfolio (Net of unearned income)) (Parenthetical) (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable | ||
Loans held-in-portfolio, unearned income | $ 110,751 | $ 107,698 |
Loans held-for-sale, at lower of cost or fair value | 125,315 | 137,000 |
Loans Held for Investment | Non Covered Loans | ||
Accounts, Notes, Loans and Financing Receivable | ||
Pledged Financial Instruments, Not Separately Reported, Loans Receivable Pledged as Collateral | 7,700,000 | 7,300,000 |
Loans-held-in portfolio served as collateral to secure credit facilities authorized with the FHLB | 4,700,000 | 4,300,000 |
Loans Held for Investment | Non Covered Loans | FRB Discount Window | ||
Accounts, Notes, Loans and Financing Receivable | ||
Loans served as collateral to secure debt obligations | 2,500,000 | 2,500,000 |
Loans Held for Investment | Non Covered Loans | Public Funds | ||
Accounts, Notes, Loans and Financing Receivable | ||
Loans served as collateral to secure debt obligations | $ 500,000 | $ 500,000 |
Note Loans (Loans in non-perfor
Note Loans (Loans in non-performing status and accruing loans past-due 90 days or more by loan class) (Detail) - Non Covered Loans - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | ||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | $ 599,526 | [1] | $ 601,799 | [2] |
Accruing loans past-due 90 days or more | 426,437 | 446,725 | ||
Commercial multi-family | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 1,424 | 1,062 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
CRE non-owner occupied | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 43,465 | 33,973 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
CRE owner occupied | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 111,165 | 106,670 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
Commercial and industrial | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 41,577 | 40,111 | ||
Accruing loans past-due 90 days or more | 332 | 555 | ||
Construction | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 3,941 | 3,550 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
Mortgages | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 334,907 | [3],[4] | 351,471 | [5],[6] |
Accruing loans past-due 90 days or more | 406,327 | [3],[4] | 426,094 | [5],[6] |
Leasing | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 3,419 | 3,009 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
Legacy | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 4,046 | 3,649 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
Consumer | Credit cards | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 382 | 437 | ||
Accruing loans past-due 90 days or more | 18,864 | 19,098 | ||
Consumer | Home equity lines of credit | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 4,309 | 4,176 | ||
Accruing loans past-due 90 days or more | 280 | 394 | ||
Consumer | Personal | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 21,452 | 23,342 | ||
Accruing loans past-due 90 days or more | 46 | 523 | ||
Consumer | Auto | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 10,850 | 11,646 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
Consumer | Other | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 18,589 | 18,703 | ||
Accruing loans past-due 90 days or more | 588 | 61 | ||
PUERTO RICO | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 561,612 | [1] | 574,834 | [2] |
Accruing loans past-due 90 days or more | 426,437 | 446,725 | ||
PUERTO RICO | Commercial multi-family | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 1,178 | 1,062 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
PUERTO RICO | CRE non-owner occupied | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 32,310 | 33,720 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
PUERTO RICO | CRE owner occupied | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 110,972 | 106,449 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
PUERTO RICO | Commercial and industrial | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 38,179 | 36,671 | ||
Accruing loans past-due 90 days or more | 332 | 555 | ||
PUERTO RICO | Construction | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 3,270 | 3,550 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
PUERTO RICO | Mortgages | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 322,838 | [3],[4] | 337,933 | [5],[6] |
Accruing loans past-due 90 days or more | 406,327 | [3],[4] | 426,094 | [5],[6] |
PUERTO RICO | Leasing | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 3,419 | 3,009 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
PUERTO RICO | Legacy | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 0 | 0 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
PUERTO RICO | Consumer | Credit cards | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 0 | 0 | ||
Accruing loans past-due 90 days or more | 18,864 | 19,098 | ||
PUERTO RICO | Consumer | Home equity lines of credit | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 0 | 0 | ||
Accruing loans past-due 90 days or more | 280 | 394 | ||
PUERTO RICO | Consumer | Personal | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 20,023 | 22,102 | ||
Accruing loans past-due 90 days or more | 46 | 523 | ||
PUERTO RICO | Consumer | Auto | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 10,844 | 11,640 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
PUERTO RICO | Consumer | Other | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 18,579 | 18,698 | ||
Accruing loans past-due 90 days or more | 588 | 61 | ||
UNITED STATES | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 37,914 | [1] | 26,965 | [2] |
Accruing loans past-due 90 days or more | 0 | 0 | ||
UNITED STATES | Commercial multi-family | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 246 | 0 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
UNITED STATES | CRE non-owner occupied | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 11,155 | 253 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
UNITED STATES | CRE owner occupied | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 193 | 221 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
UNITED STATES | Commercial and industrial | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 3,398 | 3,440 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
UNITED STATES | Construction | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 671 | 0 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
UNITED STATES | Mortgages | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 12,069 | [3],[4] | 13,538 | [5],[6] |
Accruing loans past-due 90 days or more | 0 | [3],[4] | 0 | [5],[6] |
UNITED STATES | Leasing | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 0 | 0 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
UNITED STATES | Legacy | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 4,046 | 3,649 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
UNITED STATES | Consumer | Credit cards | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 382 | 437 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
UNITED STATES | Consumer | Home equity lines of credit | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 4,309 | 4,176 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
UNITED STATES | Consumer | Personal | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 1,429 | 1,240 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
UNITED STATES | Consumer | Auto | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 6 | 6 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
UNITED STATES | Consumer | Other | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 10 | 5 | ||
Accruing loans past-due 90 days or more | $ 0 | $ 0 | ||
[1] | For purposes of this table non-performing loans exclude $ 43 million in non-performing loans held-for-sale. | |||
[2] | For purposes of this table non-performing loans exclude $ 45 million in non-performing loans held-for-sale. | |||
[3] | It is the Corporation’s policy to report delinquent residential mortgage loans insured by FHA or guar anteed by the VA as accruing loans p ast due 90 days or more as opposed to non-performing since the principal repayment is insured. These balances include $ 161 million of residential mortgage loans in Puerto Rico insured by FHA or guaranteed by the VA that are no longer accruing interest as of March 31, 2016 . Furthermore, the Co rporation has approximately $ 68 million in reverse mortgage loans in Puerto Rico which are guaranteed by FHA, but which are currently not accruing interest. Due to the guaranteed nature of the loans, it is the Corporation’s policy to exclude these balances from non-performing assets . | |||
[4] | Non-covered loans of $ 288 million accounted for under ASC Subtopic 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 analysis. | |||
[5] | It is the Corporation’s policy to report delinque nt residential mortgage loans insured by FHA or guaranteed by the VA as accruing loans past due 90 days or more as opposed to non-performing since the principal repayment is insured. These balances include $1 64 million of residential mortgage loans in Puer to Rico insured by FHA or guaranteed by the VA that are no longer accruing interest as of December 31, 2015 . Furthermore, the Corporation has approximately $70 million in reverse mortgage loans in Puerto Rico which are guaranteed by FHA, but which are currently not accruing interest. Due to the guaranteed nature of the loans, it is the Corporation’s policy to exclude these balances from non-performing assets . | |||
[6] | Non-covered loans by $ 268 million accounted for under ASC Subtopic 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 analysis. |
Note Loans (Loans in non-perf96
Note Loans (Loans in non-performing status and accruing loans past-due 90 days or more by loan class) (Parenthetical) (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans held-in-portfolio, net of unearned income | $ 22,507,737 | [1],[2] | $ 22,346,115 | [3],[4] |
Loans Held For Sale [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 42,743 | 45,169 | ||
ASC Subtopic 310-30 | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans held-in-portfolio, net of unearned income | 288,000 | 268,000 | ||
Reverse Mortgages | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Accruing loans past-due 90 days or more | 68,000 | 70,000 | ||
Residential mortgage loans insured By FHA | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Accruing loans past-due 90 days or more | $ 161,000 | $ 164,000 | ||
[1] | Includes $7.7 billion pledged to secure credit facilities and public funds that the secured parties are not permitted to sell or repledge the collateral, of which $4.7 billion were pledged at the FHLB as collateral for borrowings, $2.5 billion at the FRB for discount window borrowings and $0.5 billion serve as collateral for public funds. | |||
[2] | Non-covered loans held-in-portfolio are net of $111 million in unearned income and exclude $125 million in loans held-for-sale. | |||
[3] | Includes $7.3 billion pledged to secure credit facilities and public funds that the secured parties are not permitted to sell or repledge the collateral, of which $4.3 billion were pledged at the FHLB as collateral for borrowings, $2.5 billion at the FRB for discount window borrowings and $0.5 billion serve as collateral for public funds. | |||
[4] | Non-covered loans held-in-portfolio are net of $108 million in unearned income and exclude $137 million in loans held-for-sale. |
Note Loans (Loans held-for-sale
Note Loans (Loans held-for-sale, by main loan categories) (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans held-for-sale, at lower of cost or fair value | $ 125,315 | $ 137,000 |
Commercial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans held-for-sale, at lower of cost or fair value | 42,771 | 45,074 |
Construction | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans held-for-sale, at lower of cost or fair value | 2 | 95 |
Mortgages | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans held-for-sale, at lower of cost or fair value | $ 82,542 | $ 91,831 |
Note Loans (Loans held-for-sa98
Note Loans (Loans held-for-sale in non-performing status) (Detail) - Loans Held-for-Sale - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual loans | $ 42,743 | $ 45,169 |
Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual loans | 42,741 | 45,074 |
Construction | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual loans | $ 2 | $ 95 |
Note Loans (Acquired Loans Acco
Note Loans (Acquired Loans Accounted for Under ASC Subtopic 310-20) (Detail) - FDIC Assisted Partial Acquisition Of Doral Bank - ASC Subtopic 310-20 $ in Thousands | Feb. 27, 2015USD ($) |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Fair value of loans accounted under ASC Subtopic 310-20 | $ 1,178,543 |
Gross contractual amounts receivable (principal and interest) | 1,666,695 |
Estimate of contractual cash flows not expected to be collected | $ 34,646 |
Note Loans (Composition of loan
Note Loans (Composition of loans held-in-portfolio-covered loans and past due status) (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans covered under loss-sharing agreements with the FDIC | $ 625,130 | $ 646,115 |
Covered loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due 30-59 Days | 30,647 | 32,659 |
Past Due 60-89 Days | 16,277 | 17,037 |
Past Due 90 Days or More | 79,357 | 84,415 |
Total Past Due | 126,281 | 134,111 |
Current | 498,849 | 512,004 |
Loans covered under loss-sharing agreements with the FDIC | 625,130 | 646,115 |
Covered loans | Mortgages | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due 30-59 Days | 29,539 | 31,413 |
Past Due 60-89 Days | 15,953 | 16,593 |
Past Due 90 Days or More | 77,968 | 83,132 |
Total Past Due | 123,460 | 131,138 |
Current | 483,251 | 495,964 |
Loans covered under loss-sharing agreements with the FDIC | 606,711 | 627,102 |
Covered loans | Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due 30-59 Days | 1,108 | 1,246 |
Past Due 60-89 Days | 324 | 444 |
Past Due 90 Days or More | 1,389 | 1,283 |
Total Past Due | 2,821 | 2,973 |
Current | 15,598 | 16,040 |
Loans covered under loss-sharing agreements with the FDIC | $ 18,419 | $ 19,013 |
Note Loans (Composition of l101
Note Loans (Composition of loans held-in-portfolio-covered loans and past due status) (Parenthetical) (Detail) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Loans Held for Investment | Covered Loans | ||
Financial Instruments Owned and Pledged as Collateral | ||
Pledged Financial Instruments, Not Separately Reported, Loans Receivable Pledged as Collateral | $ 374 | $ 386 |
Note Loans (Covered loans in no
Note Loans (Covered loans in non-performing status and accruing loans past-due 90 days or more by loan class) (Detail) - Covered loans - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Non-accrual loans | [1] | $ 3,519 | $ 3,887 |
Accruing loans past-due 90 days or more | [1] | 0 | 0 |
Mortgages | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Non-accrual loans | 3,408 | 3,790 | |
Accruing loans past-due 90 days or more | 0 | 0 | |
Consumer | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Non-accrual loans | 111 | 97 | |
Accruing loans past-due 90 days or more | $ 0 | $ 0 | |
[1] | Covered loans accounted for under ASC Subtopic 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 estim a ted cash flow analyses. |
Note Loans (Carrying amount of
Note Loans (Carrying amount of Westernbank loans accounted for pursuant to ASC310-30) (Detail) - Westernbank Puerto Rico - Acquired loans in an FDIC assisted transaction - ASC Subtopic 310-30 - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | ||
Accounts, Notes, Loans and Financing Receivable | ||||||
Carrying amount | $ 1,935,441 | [1] | $ 1,974,501 | [1] | $ 2,367,096 | $ 2,444,172 |
Less: Allowance for loan losses | (62,967) | (63,563) | (68,386) | |||
Carrying amount, net of allowance | 1,872,474 | 1,910,938 | 2,298,710 | |||
Commercial real estate | ||||||
Accounts, Notes, Loans and Financing Receivable | ||||||
Carrying amount | 1,134,347 | 1,149,761 | ||||
Commercial and industrial | ||||||
Accounts, Notes, Loans and Financing Receivable | ||||||
Carrying amount | 83,786 | 85,284 | ||||
Construction | ||||||
Accounts, Notes, Loans and Financing Receivable | ||||||
Carrying amount | 14,505 | 14,970 | ||||
Mortgages | ||||||
Accounts, Notes, Loans and Financing Receivable | ||||||
Carrying amount | 679,366 | 700,113 | ||||
Consumer | ||||||
Accounts, Notes, Loans and Financing Receivable | ||||||
Carrying amount | 23,437 | 24,373 | ||||
Non-credit Impaired Loans | ||||||
Accounts, Notes, Loans and Financing Receivable | ||||||
Carrying amount | 1,865,940 | [1] | 1,898,146 | [1] | 2,211,781 | 2,272,142 |
Less: Allowance for loan losses | (58,703) | (59,753) | (49,750) | |||
Carrying amount, net of allowance | 1,807,237 | 1,838,393 | 2,162,031 | |||
Non-credit Impaired Loans | Commercial real estate | ||||||
Accounts, Notes, Loans and Financing Receivable | ||||||
Carrying amount | 1,104,257 | 1,114,368 | ||||
Non-credit Impaired Loans | Commercial and industrial | ||||||
Accounts, Notes, Loans and Financing Receivable | ||||||
Carrying amount | 83,267 | 84,765 | ||||
Non-credit Impaired Loans | Construction | ||||||
Accounts, Notes, Loans and Financing Receivable | ||||||
Carrying amount | 8,479 | 8,943 | ||||
Non-credit Impaired Loans | Mortgages | ||||||
Accounts, Notes, Loans and Financing Receivable | ||||||
Carrying amount | 647,739 | 667,023 | ||||
Non-credit Impaired Loans | Consumer | ||||||
Accounts, Notes, Loans and Financing Receivable | ||||||
Carrying amount | 22,198 | 23,047 | ||||
Credit Impaired Loans | ||||||
Accounts, Notes, Loans and Financing Receivable | ||||||
Carrying amount | 69,501 | [1] | 76,355 | [1] | 155,315 | $ 172,030 |
Less: Allowance for loan losses | (4,264) | (3,810) | (18,636) | |||
Carrying amount, net of allowance | 65,237 | 72,545 | $ 136,679 | |||
Credit Impaired Loans | Commercial real estate | ||||||
Accounts, Notes, Loans and Financing Receivable | ||||||
Carrying amount | 30,090 | 35,393 | ||||
Credit Impaired Loans | Commercial and industrial | ||||||
Accounts, Notes, Loans and Financing Receivable | ||||||
Carrying amount | 519 | 519 | ||||
Credit Impaired Loans | Construction | ||||||
Accounts, Notes, Loans and Financing Receivable | ||||||
Carrying amount | 6,026 | 6,027 | ||||
Credit Impaired Loans | Mortgages | ||||||
Accounts, Notes, Loans and Financing Receivable | ||||||
Carrying amount | 31,627 | 33,090 | ||||
Credit Impaired Loans | Consumer | ||||||
Accounts, Notes, Loans and Financing Receivable | ||||||
Carrying amount | $ 1,239 | $ 1,326 | ||||
[1] | The carrying amount of loans acquired from Westernbank and accounted for under ASC 310-30 which remains subject to the loss sharing agreement with the FDIC amounted to approximately $615 million as of March 31, 2016 and $636 million as of December 31, 2015. |
Note Loans (Carrying amount 104
Note Loans (Carrying amount of Westernbank loans accounted for pursuant to ASC310-30) (Parenthetical) (Detail) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Remain Subject To The Loss Sharing Agreement With FDIC | ASC Subtopic 310-30 | ||
Accounts, Notes, Loans and Financing Receivable | ||
Carrying amount | $ 615 | $ 636 |
Note Loans (Changes in the carr
Note Loans (Changes in the carrying amount and the accretable yield for the acquired loans in the Westernbank FDIC-assisted transaction) (Detail) - Westernbank Puerto Rico - Acquired loans in an FDIC assisted transaction - ASC Subtopic 310-30 - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | ||
Accretable yield | ||||
Beginning Balance | $ 1,112,458 | $ 1,271,337 | ||
Accretion | (43,533) | (55,697) | ||
Change In Expected Cash Flows | 59,883 | 43,308 | ||
Ending Balance | 1,128,808 | 1,258,948 | ||
Carrying amount of loans | ||||
Beginning Balance | 1,974,501 | [1] | 2,444,172 | |
Accretion | 43,533 | 55,697 | ||
Collections | (82,593) | (132,773) | ||
Ending Balance | 1,935,441 | [1] | 2,367,096 | |
Less: Allowance for loan losses | (62,967) | (68,386) | $ (63,563) | |
Carrying amount, net of allowance | 1,872,474 | 2,298,710 | 1,910,938 | |
Non-credit Impaired Loans | ||||
Accretable yield | ||||
Beginning Balance | 1,105,732 | 1,265,752 | ||
Accretion | (42,000) | (53,776) | ||
Change In Expected Cash Flows | 54,544 | 42,273 | ||
Ending Balance | 1,118,276 | 1,254,249 | ||
Carrying amount of loans | ||||
Beginning Balance | 1,898,146 | [1] | 2,272,142 | |
Accretion | 42,000 | 53,776 | ||
Collections | (74,206) | (114,137) | ||
Ending Balance | 1,865,940 | [1] | 2,211,781 | |
Less: Allowance for loan losses | (58,703) | (49,750) | (59,753) | |
Carrying amount, net of allowance | 1,807,237 | 2,162,031 | 1,838,393 | |
Credit Impaired Loans | ||||
Accretable yield | ||||
Beginning Balance | 6,726 | 5,585 | ||
Accretion | (1,533) | (1,921) | ||
Change In Expected Cash Flows | 5,339 | 1,035 | ||
Ending Balance | 10,532 | 4,699 | ||
Carrying amount of loans | ||||
Beginning Balance | 76,355 | [1] | 172,030 | |
Accretion | 1,533 | 1,921 | ||
Collections | (8,387) | (18,636) | ||
Ending Balance | 69,501 | [1] | 155,315 | |
Less: Allowance for loan losses | (4,264) | (18,636) | (3,810) | |
Carrying amount, net of allowance | $ 65,237 | $ 136,679 | $ 72,545 | |
[1] | The carrying amount of loans acquired from Westernbank and accounted for under ASC 310-30 which remains subject to the loss sharing agreement with the FDIC amounted to approximately $615 million as of March 31, 2016 and $636 million as of December 31, 2015. |
Note Loans (Changes in the c106
Note Loans (Changes in the carrying amount and the accretable yield for the acquired loans in the Westernbank FDIC-assisted transaction) (Parenthetical) (Detail) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
ASC Subtopic 310-30 | Remain Subject To The Loss Sharing Agreement With FDIC | ||
Accounts, Notes, Loans and Financing Receivable | ||
Carrying amount | $ 615 | $ 636 |
Note Loans (Changes in the c107
Note Loans (Changes in the carrying amount and the accretable yield for the other acquired loans) (Detail) - SOP Other Loans Acquired - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Accretable yield | ||
Beginning Balance | $ 221,128 | $ 116,304 |
Additions | 4,340 | 50,662 |
Accretion | (8,555) | (3,223) |
Change In Expected Cash Flows | 50,855 | (5,319) |
Ending Balance | 267,768 | 158,424 |
Carrying amount of loans | ||
Beginning Balance | 564,050 | 212,763 |
Purchase accounting adjustments related to the Doral Bank Transaction | (4,707) | 0 |
Additions | 10,051 | 157,091 |
Accretion | 8,555 | 3,223 |
Collections | (15,226) | (9,980) |
Ending Balance | 562,723 | 363,097 |
Less: Allowance for loan losses | (15,258) | (16,092) |
Carrying amount, net of allowance | $ 547,465 | $ 347,005 |
Note Loans (ASC 310-30 Loans Ac
Note Loans (ASC 310-30 Loans Acquired at Acquisition Date) (Detail) - FDIC Assisted Partial Acquisition Of Doral Bank - ASC Subtopic 310-30 $ in Thousands | Feb. 27, 2015USD ($) |
Accounts, Notes, Loans and Financing Receivable | |
Contractually-required principal and interest | $ 560,833 |
Non-accretable difference | 112,153 |
Cash flow expected to be collected | 448,680 |
Accretable yield | 113,977 |
Fair value of loans accounted under ASC Subtopic 310-30 | $ 334,703 |
Note Loans - Additional Informa
Note Loans - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable | |||
Transfers Of Financial Assets Accounted For As Sale Initial Fair Value Of Assets Obtained As Proceeds | $ 172,118 | $ 205,976 | |
Trading account securities | |||
Accounts, Notes, Loans and Financing Receivable | |||
Transfers Of Financial Assets Accounted For As Sale Initial Fair Value Of Assets Obtained As Proceeds | 170,248 | 203,414 | |
Trading account securities | GNMA | |||
Accounts, Notes, Loans and Financing Receivable | |||
Transfers Of Financial Assets Accounted For As Sale Initial Fair Value Of Assets Obtained As Proceeds | 134,012 | 156,456 | |
Trading account securities | FNMA | |||
Accounts, Notes, Loans and Financing Receivable | |||
Transfers Of Financial Assets Accounted For As Sale Initial Fair Value Of Assets Obtained As Proceeds | 36,236 | 46,958 | |
Residential Mortgage | |||
Accounts, Notes, Loans and Financing Receivable | |||
Residential Mortgage Loans Sold | 21,000 | 39,000 | |
Consumer | |||
Accounts, Notes, Loans and Financing Receivable | |||
Purchase of Loans | 106,000 | ||
Mortgages | |||
Accounts, Notes, Loans and Financing Receivable | |||
Purchase of Loans | 122,000 | $ 169,000 | |
Commercial Loans | |||
Accounts, Notes, Loans and Financing Receivable | |||
Purchase of Loans | 51,000 | ||
Westernbank Puerto Rico | ASC Subtopic 310-20 | Acquired loans in an FDIC assisted transaction | |||
Accounts, Notes, Loans and Financing Receivable | |||
Financing Receivable Acquired With Deteriorated Credit Quality | 10,000 | $ 10,000 | |
Westernbank Puerto Rico | Covered loans | A S C Subtopic 31030 [Member] | Acquired loans in an FDIC assisted transaction | |||
Accounts, Notes, Loans and Financing Receivable | |||
Outstanding principal balance of SOP loans | 2,400,000 | 2,400,000 | |
SOP Other Loans Acquired | A S C Subtopic 31030 [Member] | |||
Accounts, Notes, Loans and Financing Receivable | |||
Outstanding principal balance of SOP loans | $ 713,000 | $ 710,000 |
Note Allowance for loan losses
Note Allowance for loan losses (Allowance Movement) (Detail) - USD ($) $ in Thousands | 3 Months Ended | |||||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | ||||
Financing Receivable, Allowance for Credit Losses | ||||||
Balance at beginning of period | $ 537,111 | $ 601,792 | ||||
Provision for loan losses | 44,835 | 40,035 | ||||
Charge-offs | (59,937) | (81,815) | ||||
Recoveries | 16,463 | 26,005 | ||||
Net recovery (write-down) | 2,680 | |||||
Balance at end of period | 538,472 | 588,697 | ||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Specific ALLL | 124,037 | 140,438 | ||||
General ALLL | 414,435 | 448,259 | ||||
Ending balance: loans individually evaluated for impairment | 934,650 | 1,007,945 | ||||
Ending balance: loans collectively evaluated for impairment | 22,198,217 | 22,461,537 | ||||
Non-covered Loans held-in-portfolio | 22,507,737 | [1],[2] | $ 22,346,115 | [3],[4] | ||
Loans covered under loss-sharing agreements with the FDIC | 625,130 | 646,115 | ||||
Loans And Leases Receivable Covered And Not Covered Total Net Of Unearned Income | 23,132,867 | 23,469,482 | ||||
Continuing Operations | ||||||
Financing Receivable, Allowance for Credit Losses | ||||||
Provision for loan losses | (44,835) | (40,035) | ||||
Covered loans | ||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Loans covered under loss-sharing agreements with the FDIC | 625,130 | 646,115 | ||||
PUERTO RICO | ||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Non-covered Loans held-in-portfolio | [5] | 17,525,427 | 17,570,610 | |||
PUERTO RICO | Non-covered loans | ||||||
Financing Receivable, Allowance for Credit Losses | ||||||
Balance at beginning of period | 469,923 | 489,135 | ||||
Provision for loan losses | 43,871 | 31,913 | ||||
Charge-offs | (54,990) | (51,481) | ||||
Recoveries | 14,343 | 14,709 | ||||
Balance at end of period | 473,147 | 484,276 | ||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Specific ALLL | 121,864 | 138,243 | ||||
General ALLL | 351,283 | 346,033 | ||||
Ending balance: loans individually evaluated for impairment | 924,494 | 990,061 | ||||
Ending balance: loans collectively evaluated for impairment | 16,600,933 | 15,614,726 | ||||
Non-covered Loans held-in-portfolio | 17,525,427 | 16,604,787 | ||||
PUERTO RICO | Covered loans | ||||||
Financing Receivable, Allowance for Credit Losses | ||||||
Balance at beginning of period | 34,176 | 82,073 | ||||
Provision for loan losses | (3,105) | 10,324 | ||||
Charge-offs | (1,254) | (26,671) | ||||
Recoveries | 228 | 6,747 | ||||
Balance at end of period | 30,045 | 72,473 | ||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Specific ALLL | 0 | 1,473 | ||||
General ALLL | 30,045 | 71,000 | ||||
Ending balance: loans individually evaluated for impairment | 0 | 10,730 | ||||
Ending balance: loans collectively evaluated for impairment | 625,130 | 2,445,822 | ||||
Loans covered under loss-sharing agreements with the FDIC | 625,130 | 2,456,552 | ||||
UNITED STATES | ||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Non-covered Loans held-in-portfolio | 4,982,310 | 4,775,505 | ||||
UNITED STATES | Non-covered loans | Continuing Operations | ||||||
Financing Receivable, Allowance for Credit Losses | ||||||
Balance at beginning of period | 33,012 | 30,584 | ||||
Provision for loan losses | 4,069 | (2,202) | ||||
Charge-offs | (3,693) | (3,663) | ||||
Recoveries | 1,892 | 4,549 | ||||
Net recovery (write-down) | 2,680 | |||||
Balance at end of period | 35,280 | 31,948 | ||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Specific ALLL | 2,173 | 722 | ||||
General ALLL | 33,107 | 31,226 | ||||
Ending balance: loans individually evaluated for impairment | 10,156 | 7,154 | ||||
Ending balance: loans collectively evaluated for impairment | 4,972,154 | 4,400,989 | ||||
Non-covered Loans held-in-portfolio | 4,982,310 | 4,408,143 | ||||
Commercial | ||||||
Financing Receivable, Allowance for Credit Losses | ||||||
Balance at beginning of period | 196,833 | 242,108 | ||||
Provision for loan losses | 13,253 | 973 | ||||
Charge-offs | (9,463) | (24,261) | ||||
Recoveries | 6,554 | 8,339 | ||||
Net recovery (write-down) | 0 | |||||
Balance at end of period | 207,177 | 227,159 | ||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Specific ALLL | 55,098 | 71,419 | ||||
General ALLL | 152,079 | 155,740 | ||||
Ending balance: loans individually evaluated for impairment | 338,980 | 425,771 | ||||
Ending balance: loans collectively evaluated for impairment | 9,889,409 | 9,798,937 | ||||
Non-covered Loans held-in-portfolio | 10,228,389 | 10,099,163 | ||||
Loans And Leases Receivable Covered And Not Covered Total Net Of Unearned Income | 10,228,389 | 10,224,708 | ||||
Commercial | PUERTO RICO | ||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Non-covered Loans held-in-portfolio | [5] | 7,368,291 | 7,368,219 | |||
Commercial | PUERTO RICO | Non-covered loans | ||||||
Financing Receivable, Allowance for Credit Losses | ||||||
Balance at beginning of period | 186,925 | 201,589 | ||||
Provision for loan losses | 13,369 | (1,321) | ||||
Charge-offs | (8,968) | (9,572) | ||||
Recoveries | 6,264 | 4,770 | ||||
Balance at end of period | 197,590 | 195,466 | ||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Specific ALLL | 55,098 | 69,946 | ||||
General ALLL | 142,492 | 125,520 | ||||
Ending balance: loans individually evaluated for impairment | 338,980 | 417,377 | ||||
Ending balance: loans collectively evaluated for impairment | 7,029,311 | 5,984,132 | ||||
Non-covered Loans held-in-portfolio | 7,368,291 | 6,401,509 | ||||
Commercial | PUERTO RICO | Covered loans | ||||||
Financing Receivable, Allowance for Credit Losses | ||||||
Balance at beginning of period | 0 | 30,871 | ||||
Provision for loan losses | 0 | 1,995 | ||||
Charge-offs | 0 | (14,239) | ||||
Recoveries | 0 | 2,640 | ||||
Balance at end of period | 0 | 21,267 | ||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Specific ALLL | 0 | 1,473 | ||||
General ALLL | 0 | 19,794 | ||||
Ending balance: loans individually evaluated for impairment | 0 | 8,394 | ||||
Ending balance: loans collectively evaluated for impairment | 0 | 1,562,753 | ||||
Loans covered under loss-sharing agreements with the FDIC | 0 | 1,571,147 | ||||
Commercial | UNITED STATES | ||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Non-covered Loans held-in-portfolio | 2,860,098 | 2,730,944 | ||||
Commercial | UNITED STATES | Non-covered loans | Continuing Operations | ||||||
Financing Receivable, Allowance for Credit Losses | ||||||
Balance at beginning of period | 9,908 | 9,648 | ||||
Provision for loan losses | (116) | 299 | ||||
Charge-offs | (495) | (450) | ||||
Recoveries | 290 | 929 | ||||
Net recovery (write-down) | 0 | |||||
Balance at end of period | 9,587 | 10,426 | ||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Specific ALLL | 0 | 0 | ||||
General ALLL | 9,587 | 10,426 | ||||
Ending balance: loans individually evaluated for impairment | 0 | 0 | ||||
Ending balance: loans collectively evaluated for impairment | 2,860,098 | 2,252,052 | ||||
Non-covered Loans held-in-portfolio | 2,860,098 | 2,252,052 | ||||
Construction | ||||||
Financing Receivable, Allowance for Credit Losses | ||||||
Balance at beginning of period | 8,869 | 13,872 | ||||
Provision for loan losses | 418 | 125 | ||||
Charge-offs | (544) | (9,046) | ||||
Recoveries | 233 | 6,200 | ||||
Net recovery (write-down) | 0 | |||||
Balance at end of period | 8,976 | 11,151 | ||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Specific ALLL | 172 | 158 | ||||
General ALLL | 8,804 | 10,993 | ||||
Ending balance: loans individually evaluated for impairment | 2,020 | 12,174 | ||||
Ending balance: loans collectively evaluated for impairment | 732,838 | 736,379 | ||||
Non-covered Loans held-in-portfolio | 734,858 | 681,106 | ||||
Loans And Leases Receivable Covered And Not Covered Total Net Of Unearned Income | 734,858 | 748,553 | ||||
Construction | PUERTO RICO | ||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Non-covered Loans held-in-portfolio | [5] | 105,144 | 100,948 | |||
Construction | PUERTO RICO | Non-covered loans | ||||||
Financing Receivable, Allowance for Credit Losses | ||||||
Balance at beginning of period | 4,957 | 5,483 | ||||
Provision for loan losses | (409) | (6,813) | ||||
Charge-offs | (544) | 0 | ||||
Recoveries | 233 | 2,925 | ||||
Balance at end of period | 4,237 | 1,595 | ||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Specific ALLL | 172 | 158 | ||||
General ALLL | 4,065 | 1,437 | ||||
Ending balance: loans individually evaluated for impairment | 2,020 | 9,838 | ||||
Ending balance: loans collectively evaluated for impairment | 103,124 | 88,868 | ||||
Non-covered Loans held-in-portfolio | 105,144 | 98,706 | ||||
Construction | PUERTO RICO | Covered loans | ||||||
Financing Receivable, Allowance for Credit Losses | ||||||
Balance at beginning of period | 0 | 7,202 | ||||
Provision for loan losses | 0 | 6,276 | ||||
Charge-offs | 0 | (9,046) | ||||
Recoveries | 0 | 3,275 | ||||
Balance at end of period | 0 | 7,707 | ||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Specific ALLL | 0 | 0 | ||||
General ALLL | 0 | 7,707 | ||||
Ending balance: loans individually evaluated for impairment | 0 | 2,336 | ||||
Ending balance: loans collectively evaluated for impairment | 0 | 55,489 | ||||
Loans covered under loss-sharing agreements with the FDIC | 0 | 57,825 | ||||
Construction | UNITED STATES | ||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Non-covered Loans held-in-portfolio | 629,714 | 580,158 | ||||
Construction | UNITED STATES | Non-covered loans | Continuing Operations | ||||||
Financing Receivable, Allowance for Credit Losses | ||||||
Balance at beginning of period | 3,912 | 1,187 | ||||
Provision for loan losses | 827 | 662 | ||||
Charge-offs | 0 | 0 | ||||
Recoveries | 0 | 0 | ||||
Net recovery (write-down) | 0 | |||||
Balance at end of period | 4,739 | 1,849 | ||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Specific ALLL | 0 | 0 | ||||
General ALLL | 4,739 | 1,849 | ||||
Ending balance: loans individually evaluated for impairment | 0 | 0 | ||||
Ending balance: loans collectively evaluated for impairment | 629,714 | 592,022 | ||||
Non-covered Loans held-in-portfolio | 629,714 | 592,022 | ||||
Mortgages | ||||||
Financing Receivable, Allowance for Credit Losses | ||||||
Balance at beginning of period | 167,279 | 164,270 | ||||
Provision for loan losses | 8,064 | 12,867 | ||||
Charge-offs | (17,634) | (14,580) | ||||
Recoveries | 1,712 | 672 | ||||
Net recovery (write-down) | 6,081 | |||||
Balance at end of period | 159,421 | 169,310 | ||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Specific ALLL | 43,252 | 42,570 | ||||
General ALLL | 116,169 | 126,740 | ||||
Ending balance: loans individually evaluated for impairment | 479,092 | 450,612 | ||||
Ending balance: loans collectively evaluated for impairment | 7,106,820 | 7,534,092 | ||||
Non-covered Loans held-in-portfolio | 6,979,201 | 7,036,081 | ||||
Loans And Leases Receivable Covered And Not Covered Total Net Of Unearned Income | 7,585,912 | 7,984,704 | ||||
Mortgages | Covered loans | ||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Loans covered under loss-sharing agreements with the FDIC | 606,711 | 627,102 | ||||
Mortgages | PUERTO RICO | ||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Non-covered Loans held-in-portfolio | [5] | 6,099,759 | 6,127,491 | |||
Mortgages | PUERTO RICO | Non-covered loans | ||||||
Financing Receivable, Allowance for Credit Losses | ||||||
Balance at beginning of period | 128,327 | 120,860 | ||||
Provision for loan losses | 10,869 | 16,192 | ||||
Charge-offs | (15,972) | (10,973) | ||||
Recoveries | 1,276 | 500 | ||||
Balance at end of period | 124,500 | 126,579 | ||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Specific ALLL | 41,660 | 42,229 | ||||
General ALLL | 82,840 | 84,350 | ||||
Ending balance: loans individually evaluated for impairment | 471,183 | 445,506 | ||||
Ending balance: loans collectively evaluated for impairment | 5,628,576 | 5,725,741 | ||||
Non-covered Loans held-in-portfolio | 6,099,759 | 6,171,247 | ||||
Mortgages | PUERTO RICO | Covered loans | ||||||
Financing Receivable, Allowance for Credit Losses | ||||||
Balance at beginning of period | 33,967 | 40,948 | ||||
Provision for loan losses | (3,149) | 2,802 | ||||
Charge-offs | (1,221) | (3,386) | ||||
Recoveries | 225 | 105 | ||||
Balance at end of period | 29,822 | 40,469 | ||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Specific ALLL | 0 | 0 | ||||
General ALLL | 29,822 | 40,469 | ||||
Ending balance: loans individually evaluated for impairment | 0 | 0 | ||||
Ending balance: loans collectively evaluated for impairment | 606,711 | 795,477 | ||||
Loans covered under loss-sharing agreements with the FDIC | 606,711 | 795,477 | ||||
Mortgages | UNITED STATES | ||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Non-covered Loans held-in-portfolio | 879,442 | 908,590 | ||||
Mortgages | UNITED STATES | Non-covered loans | Continuing Operations | ||||||
Financing Receivable, Allowance for Credit Losses | ||||||
Balance at beginning of period | 4,985 | 2,462 | ||||
Provision for loan losses | 344 | (6,127) | ||||
Charge-offs | (441) | (221) | ||||
Recoveries | 211 | 67 | ||||
Net recovery (write-down) | 6,081 | |||||
Balance at end of period | 5,099 | 2,262 | ||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Specific ALLL | 1,592 | 341 | ||||
General ALLL | 3,507 | 1,921 | ||||
Ending balance: loans individually evaluated for impairment | 7,909 | 5,106 | ||||
Ending balance: loans collectively evaluated for impairment | 871,533 | 1,012,874 | ||||
Non-covered Loans held-in-portfolio | 879,442 | 1,017,980 | ||||
Legacy | ||||||
Financing Receivable, Allowance for Credit Losses | ||||||
Balance at beginning of period | 2,687 | 2,944 | ||||
Provision for loan losses | (450) | (1,810) | ||||
Charge-offs | (109) | (474) | ||||
Recoveries | 356 | 2,302 | ||||
Net recovery (write-down) | 0 | |||||
Balance at end of period | 2,484 | 2,962 | ||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Specific ALLL | 0 | 0 | ||||
General ALLL | 2,484 | 2,962 | ||||
Ending balance: loans individually evaluated for impairment | 0 | 0 | ||||
Ending balance: loans collectively evaluated for impairment | 61,044 | 77,675 | ||||
Non-covered Loans held-in-portfolio | [6] | 61,044 | 64,436 | |||
Loans And Leases Receivable Covered And Not Covered Total Net Of Unearned Income | 61,044 | 77,675 | ||||
Legacy | UNITED STATES | ||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Non-covered Loans held-in-portfolio | 61,044 | 64,436 | ||||
Legacy | UNITED STATES | Non-covered loans | Continuing Operations | ||||||
Financing Receivable, Allowance for Credit Losses | ||||||
Balance at beginning of period | 2,687 | 2,944 | ||||
Provision for loan losses | (450) | (1,810) | ||||
Charge-offs | (109) | (474) | ||||
Recoveries | 356 | 2,302 | ||||
Net recovery (write-down) | 0 | |||||
Balance at end of period | 2,484 | 2,962 | ||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Specific ALLL | 0 | 0 | ||||
General ALLL | 2,484 | 2,962 | ||||
Ending balance: loans individually evaluated for impairment | 0 | 0 | ||||
Ending balance: loans collectively evaluated for impairment | 61,044 | 77,675 | ||||
Non-covered Loans held-in-portfolio | 61,044 | 77,675 | ||||
Leasing | ||||||
Financing Receivable, Allowance for Credit Losses | ||||||
Balance at beginning of period | 10,993 | 7,131 | ||||
Provision for loan losses | 1,680 | 846 | ||||
Charge-offs | (2,127) | (1,237) | ||||
Recoveries | 489 | 468 | ||||
Net recovery (write-down) | 0 | |||||
Balance at end of period | 11,035 | 7,208 | ||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Specific ALLL | 608 | 687 | ||||
General ALLL | 10,427 | 6,521 | ||||
Ending balance: loans individually evaluated for impairment | 2,391 | 2,924 | ||||
Ending balance: loans collectively evaluated for impairment | 640,751 | 578,195 | ||||
Non-covered Loans held-in-portfolio | 643,142 | 627,650 | ||||
Loans And Leases Receivable Covered And Not Covered Total Net Of Unearned Income | 643,142 | 581,119 | ||||
Leasing | PUERTO RICO | ||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Non-covered Loans held-in-portfolio | [5] | 643,142 | 627,650 | |||
Leasing | PUERTO RICO | Non-covered loans | ||||||
Financing Receivable, Allowance for Credit Losses | ||||||
Balance at beginning of period | 10,993 | 7,131 | ||||
Provision for loan losses | 1,680 | 846 | ||||
Charge-offs | (2,127) | (1,237) | ||||
Recoveries | 489 | 468 | ||||
Balance at end of period | 11,035 | 7,208 | ||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Specific ALLL | 608 | 687 | ||||
General ALLL | 10,427 | 6,521 | ||||
Ending balance: loans individually evaluated for impairment | 2,391 | 2,924 | ||||
Ending balance: loans collectively evaluated for impairment | 640,751 | 578,195 | ||||
Non-covered Loans held-in-portfolio | 643,142 | 581,119 | ||||
Leasing | PUERTO RICO | Covered loans | ||||||
Financing Receivable, Allowance for Credit Losses | ||||||
Balance at beginning of period | 0 | 0 | ||||
Provision for loan losses | 0 | 0 | ||||
Charge-offs | 0 | 0 | ||||
Recoveries | 0 | 0 | ||||
Balance at end of period | 0 | 0 | ||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Specific ALLL | 0 | 0 | ||||
General ALLL | 0 | 0 | ||||
Ending balance: loans individually evaluated for impairment | 0 | 0 | ||||
Ending balance: loans collectively evaluated for impairment | 0 | 0 | ||||
Loans covered under loss-sharing agreements with the FDIC | 0 | 0 | ||||
Consumer | ||||||
Financing Receivable, Allowance for Credit Losses | ||||||
Balance at beginning of period | 150,450 | 171,467 | ||||
Provision for loan losses | 21,870 | 27,034 | ||||
Charge-offs | (30,060) | (32,217) | ||||
Recoveries | 7,119 | 8,024 | ||||
Net recovery (write-down) | (3,401) | |||||
Balance at end of period | 149,379 | 170,907 | ||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Specific ALLL | 24,907 | 25,604 | ||||
General ALLL | 124,472 | 145,303 | ||||
Ending balance: loans individually evaluated for impairment | 112,167 | 116,464 | ||||
Ending balance: loans collectively evaluated for impairment | 3,767,355 | 3,736,259 | ||||
Non-covered Loans held-in-portfolio | 3,861,103 | 3,837,679 | ||||
Loans And Leases Receivable Covered And Not Covered Total Net Of Unearned Income | 3,879,522 | 3,852,723 | ||||
Consumer | Covered loans | ||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Loans covered under loss-sharing agreements with the FDIC | 18,419 | 19,013 | ||||
Consumer | PUERTO RICO | ||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Non-covered Loans held-in-portfolio | [5] | 3,309,091 | 3,346,302 | |||
Consumer | PUERTO RICO | Non-covered loans | ||||||
Financing Receivable, Allowance for Credit Losses | ||||||
Balance at beginning of period | 138,721 | 154,072 | ||||
Provision for loan losses | 18,362 | 23,009 | ||||
Charge-offs | (27,379) | (29,699) | ||||
Recoveries | 6,081 | 6,046 | ||||
Balance at end of period | 135,785 | 153,428 | ||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Specific ALLL | 24,326 | 25,223 | ||||
General ALLL | 111,459 | 128,205 | ||||
Ending balance: loans individually evaluated for impairment | 109,920 | 114,416 | ||||
Ending balance: loans collectively evaluated for impairment | 3,199,171 | 3,237,790 | ||||
Non-covered Loans held-in-portfolio | 3,309,091 | 3,352,206 | ||||
Consumer | PUERTO RICO | Covered loans | ||||||
Financing Receivable, Allowance for Credit Losses | ||||||
Balance at beginning of period | 209 | 3,052 | ||||
Provision for loan losses | 44 | (749) | ||||
Charge-offs | (33) | 0 | ||||
Recoveries | 3 | 727 | ||||
Balance at end of period | 223 | 3,030 | ||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Specific ALLL | 0 | 0 | ||||
General ALLL | 223 | 3,030 | ||||
Ending balance: loans individually evaluated for impairment | 0 | 0 | ||||
Ending balance: loans collectively evaluated for impairment | 18,419 | 32,103 | ||||
Loans covered under loss-sharing agreements with the FDIC | 18,419 | 32,103 | ||||
Consumer | UNITED STATES | ||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Non-covered Loans held-in-portfolio | 552,012 | $ 491,377 | ||||
Consumer | UNITED STATES | Non-covered loans | Continuing Operations | ||||||
Financing Receivable, Allowance for Credit Losses | ||||||
Balance at beginning of period | 11,520 | 14,343 | ||||
Provision for loan losses | 3,464 | 4,774 | ||||
Charge-offs | (2,648) | (2,518) | ||||
Recoveries | 1,035 | 1,251 | ||||
Net recovery (write-down) | (3,401) | |||||
Balance at end of period | 13,371 | 14,449 | ||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | ||||||
Specific ALLL | 581 | 381 | ||||
General ALLL | 12,790 | 14,068 | ||||
Ending balance: loans individually evaluated for impairment | 2,247 | 2,048 | ||||
Ending balance: loans collectively evaluated for impairment | 549,765 | 466,366 | ||||
Non-covered Loans held-in-portfolio | $ 552,012 | $ 468,414 | ||||
[1] | Includes $7.7 billion pledged to secure credit facilities and public funds that the secured parties are not permitted to sell or repledge the collateral, of which $4.7 billion were pledged at the FHLB as collateral for borrowings, $2.5 billion at the FRB for discount window borrowings and $0.5 billion serve as collateral for public funds. | |||||
[2] | Non-covered loans held-in-portfolio are net of $111 million in unearned income and exclude $125 million in loans held-for-sale. | |||||
[3] | Includes $7.3 billion pledged to secure credit facilities and public funds that the secured parties are not permitted to sell or repledge the collateral, of which $4.3 billion were pledged at the FHLB as collateral for borrowings, $2.5 billion at the FRB for discount window borrowings and $0.5 billion serve as collateral for public funds. | |||||
[4] | Non-covered loans held-in-portfolio are net of $108 million in unearned income and exclude $137 million in loans held-for-sale. | |||||
[5] | Excludes covered loans acquired in the Westernbank FDIC-assisted transaction. | |||||
[6] | The legacy portfolio is comprised of commercial loans, construction loans and lease financings related to certain lending products exited by the Corporation as part of restructuring efforts carried out in prior years at the BPNA segment. |
Note Allowance for loan loss111
Note Allowance for loan losses (Activity in Allowance for Loan Losses Related to ASC 310-30 Acquired Loans) (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable | ||
Balance at beginning of period | $ 537,111 | $ 601,792 |
Provision for loan losses | (44,835) | (40,035) |
Charge-offs | (59,937) | (81,815) |
Recoveries | 16,463 | 26,005 |
Net recovery (write-down) | 2,680 | |
Balance at end of period | 538,472 | 588,697 |
Westernbank Puerto Rico | Acquired loans in an FDIC assisted transaction | Credit Impaired Loans | ASC Subtopic 310-30 | ||
Accounts, Notes, Loans and Financing Receivable | ||
Balance at beginning of period | 63,563 | 78,846 |
Provision for loan losses | 1,791 | 8,601 |
Charge-offs | (2,387) | (19,061) |
Balance at end of period | $ 62,967 | $ 68,386 |
Note Allowance for loan loss112
Note Allowance for loan losses (Disclosures related to loans individually evaluated for impairment) (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Impaired | ||
Related Allowance | $ 124,037 | $ 118,072 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 128,599 | 118,406 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 806,051 | 807,380 |
Recorded Investment | 934,650 | 925,786 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 175,233 | 170,520 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 878,324 | 881,819 |
Unpaid Principal Balance | 1,053,557 | 1,052,339 |
PUERTO RICO | ||
Financing Receivable, Impaired | ||
Related Allowance | 121,864 | 116,523 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 124,668 | 114,870 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 799,826 | 801,925 |
Recorded Investment | 924,494 | 916,795 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 170,534 | 166,082 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 871,386 | 875,471 |
Unpaid Principal Balance | 1,041,920 | 1,041,553 |
UNITED STATES | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 2,173 | 1,549 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 3,931 | 3,536 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 6,225 | 5,455 |
Recorded Investment | 10,156 | 8,991 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 4,699 | 4,438 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 6,938 | 6,348 |
Unpaid Principal Balance | 11,637 | 10,786 |
CRE non-owner occupied | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 37,638 | 30,980 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 13,636 | 13,779 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 107,706 | 102,199 |
Recorded Investment | 121,342 | 115,978 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 23,754 | 23,896 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 112,100 | 106,466 |
Unpaid Principal Balance | 135,854 | 130,362 |
CRE non-owner occupied | PUERTO RICO | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 37,638 | 30,980 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 13,636 | 13,779 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 107,706 | 102,199 |
Recorded Investment | 121,342 | 115,978 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 23,754 | 23,896 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 112,100 | 106,466 |
Unpaid Principal Balance | 135,854 | 130,362 |
CRE owner occupied | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 10,888 | 12,564 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 38,763 | 38,955 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 120,121 | 118,253 |
Recorded Investment | 158,884 | 157,208 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 63,165 | 63,383 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 139,841 | 137,193 |
Unpaid Principal Balance | 203,006 | 200,576 |
CRE owner occupied | PUERTO RICO | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 10,888 | 12,564 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 38,763 | 38,955 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 120,121 | 118,253 |
Recorded Investment | 158,884 | 157,208 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 63,165 | 63,383 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 139,841 | 137,193 |
Unpaid Principal Balance | 203,006 | 200,576 |
Commercial and industrial | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 6,572 | 5,699 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 19,407 | 21,904 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 39,347 | 42,043 |
Recorded Investment | 58,754 | 63,947 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 21,525 | 32,922 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 40,849 | 43,629 |
Unpaid Principal Balance | 62,374 | 76,551 |
Commercial and industrial | PUERTO RICO | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 6,572 | 5,699 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 19,407 | 21,904 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 39,347 | 42,043 |
Recorded Investment | 58,754 | 63,947 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 21,525 | 32,922 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 40,849 | 43,629 |
Unpaid Principal Balance | 62,374 | 76,551 |
Construction | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 172 | 264 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 2,020 | 2,481 |
Recorded Investment | 2,020 | 2,481 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 5,472 | 7,878 |
Unpaid Principal Balance | 5,472 | 7,878 |
Construction | PUERTO RICO | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 172 | 264 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 2,020 | 2,481 |
Recorded Investment | 2,020 | 2,481 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 5,472 | 7,878 |
Unpaid Principal Balance | 5,472 | 7,878 |
Mortgages | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 43,252 | 44,029 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 55,997 | 42,904 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 423,095 | 429,028 |
Recorded Investment | 479,092 | 471,932 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 65,993 | 49,455 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 466,300 | 473,258 |
Unpaid Principal Balance | 532,293 | 522,713 |
Mortgages | PUERTO RICO | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 41,660 | 42,965 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 52,862 | 40,232 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 418,321 | 424,885 |
Recorded Investment | 471,183 | 465,117 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 62,090 | 45,881 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 460,813 | 468,240 |
Unpaid Principal Balance | 522,903 | 514,121 |
Mortgages | UNITED STATES | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 1,592 | 1,064 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 3,135 | 2,672 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 4,774 | 4,143 |
Recorded Investment | 7,909 | 6,815 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 3,903 | 3,574 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 5,487 | 5,018 |
Unpaid Principal Balance | 9,390 | 8,592 |
Leasing | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 608 | 573 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 2,391 | 2,404 |
Recorded Investment | 2,391 | 2,404 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 2,391 | 2,404 |
Unpaid Principal Balance | 2,391 | 2,404 |
Leasing | PUERTO RICO | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 608 | 573 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 2,391 | 2,404 |
Recorded Investment | 2,391 | 2,404 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 2,391 | 2,404 |
Unpaid Principal Balance | 2,391 | 2,404 |
Consumer | Credit cards | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 5,963 | 6,675 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 37,778 | 38,734 |
Recorded Investment | 37,778 | 38,734 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 37,778 | 38,734 |
Unpaid Principal Balance | 37,778 | 38,734 |
Consumer | Credit cards | PUERTO RICO | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 5,963 | 6,675 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 37,778 | 38,734 |
Recorded Investment | 37,778 | 38,734 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 37,778 | 38,734 |
Unpaid Principal Balance | 37,778 | 38,734 |
Consumer | Home equity lines of credit | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 352 | 259 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 715 | 783 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 921 | 778 |
Recorded Investment | 1,636 | 1,561 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 715 | 783 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 921 | 796 |
Unpaid Principal Balance | 1,636 | 1,579 |
Consumer | Home equity lines of credit | UNITED STATES | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 352 | 259 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 715 | 783 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 921 | 778 |
Recorded Investment | 1,636 | 1,561 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 715 | 783 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 921 | 796 |
Unpaid Principal Balance | 1,636 | 1,579 |
Consumer | Personal | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 17,746 | 16,591 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 81 | 81 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 68,364 | 69,043 |
Recorded Investment | 68,445 | 69,124 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 81 | 81 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 68,364 | 69,043 |
Unpaid Principal Balance | 68,445 | 69,124 |
Consumer | Personal | PUERTO RICO | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 17,517 | 16,365 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 67,834 | 68,509 |
Recorded Investment | 67,834 | 68,509 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 67,834 | 68,509 |
Unpaid Principal Balance | 67,834 | 68,509 |
Consumer | Personal | UNITED STATES | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 229 | 226 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 81 | 81 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 530 | 534 |
Recorded Investment | 611 | 615 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 81 | 81 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 530 | 534 |
Unpaid Principal Balance | 611 | 615 |
Consumer | Auto | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 771 | 338 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 3,863 | 1,893 |
Recorded Investment | 3,863 | 1,893 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 3,863 | 1,893 |
Unpaid Principal Balance | 3,863 | 1,893 |
Consumer | Auto | PUERTO RICO | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 771 | 338 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 3,863 | 1,893 |
Recorded Investment | 3,863 | 1,893 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 3,863 | 1,893 |
Unpaid Principal Balance | 3,863 | 1,893 |
Consumer | Other | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 75 | 100 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 445 | 524 |
Recorded Investment | 445 | 524 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 445 | 525 |
Unpaid Principal Balance | 445 | 525 |
Consumer | Other | PUERTO RICO | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 75 | 100 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 445 | 524 |
Recorded Investment | 445 | 524 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 445 | 525 |
Unpaid Principal Balance | $ 445 | $ 525 |
Note Allowance for loan loss113
Note Allowance for loan losses (Average recorded investment and interest income recognized on impaired loans) (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Financing Receivable, Impaired | ||
Average Recorded Investment | $ 930,221 | $ 970,934 |
Interest Income Recognized | 6,476 | 12,239 |
Covered loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 8,818 | |
Interest Income Recognized | 35 | |
Commercial multi-family | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 276 | |
Interest Income Recognized | 0 | |
CRE non-owner occupied | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 118,660 | 88,773 |
Interest Income Recognized | 1,159 | 1,140 |
CRE owner occupied | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 158,046 | 127,969 |
Interest Income Recognized | 1,393 | 2,166 |
Commercial and industrial | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 61,351 | 170,252 |
Interest Income Recognized | 516 | 4,432 |
Construction | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 2,251 | 11,553 |
Interest Income Recognized | 21 | 0 |
Mortgages | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 475,512 | 443,219 |
Interest Income Recognized | 3,387 | 4,466 |
Leasing | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 2,398 | 2,974 |
Interest Income Recognized | 0 | 0 |
Consumer | Credit cards | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 38,256 | 41,337 |
Interest Income Recognized | 0 | 0 |
Consumer | Home equity lines of credit | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 1,599 | 1,762 |
Interest Income Recognized | 0 | 0 |
Consumer | Personal | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 68,785 | 71,447 |
Interest Income Recognized | 0 | 0 |
Consumer | Auto | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 2,878 | 1,984 |
Interest Income Recognized | 0 | 0 |
Consumer | Other | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 485 | 570 |
Interest Income Recognized | 0 | 0 |
PUERTO RICO | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 920,647 | 964,116 |
Interest Income Recognized | 6,476 | 12,226 |
PUERTO RICO | Covered loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 8,818 | |
Interest Income Recognized | 35 | |
PUERTO RICO | Commercial multi-family | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 276 | |
Interest Income Recognized | 0 | |
PUERTO RICO | CRE non-owner occupied | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 118,660 | 88,773 |
Interest Income Recognized | 1,159 | 1,140 |
PUERTO RICO | CRE owner occupied | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 158,046 | 127,969 |
Interest Income Recognized | 1,393 | 2,166 |
PUERTO RICO | Commercial and industrial | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 61,351 | 170,127 |
Interest Income Recognized | 516 | 4,432 |
PUERTO RICO | Construction | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 2,251 | 11,553 |
Interest Income Recognized | 21 | 0 |
PUERTO RICO | Mortgages | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 468,150 | 438,538 |
Interest Income Recognized | 3,387 | 4,453 |
PUERTO RICO | Leasing | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 2,398 | 2,974 |
Interest Income Recognized | 0 | 0 |
PUERTO RICO | Consumer | Credit cards | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 38,256 | 41,337 |
Interest Income Recognized | 0 | 0 |
PUERTO RICO | Consumer | Home equity lines of credit | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 0 | 0 |
Interest Income Recognized | 0 | 0 |
PUERTO RICO | Consumer | Personal | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 68,172 | 71,241 |
Interest Income Recognized | 0 | 0 |
PUERTO RICO | Consumer | Auto | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 2,878 | 1,984 |
Interest Income Recognized | 0 | 0 |
PUERTO RICO | Consumer | Other | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 485 | 526 |
Interest Income Recognized | 0 | 0 |
UNITED STATES | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 9,574 | 6,818 |
Interest Income Recognized | 0 | 13 |
UNITED STATES | Covered loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 0 | |
Interest Income Recognized | 0 | |
UNITED STATES | Commercial multi-family | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 0 | |
Interest Income Recognized | 0 | |
UNITED STATES | CRE non-owner occupied | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 0 | 0 |
Interest Income Recognized | 0 | 0 |
UNITED STATES | CRE owner occupied | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 0 | 0 |
Interest Income Recognized | 0 | 0 |
UNITED STATES | Commercial and industrial | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 0 | 125 |
Interest Income Recognized | 0 | 0 |
UNITED STATES | Construction | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 0 | 0 |
Interest Income Recognized | 0 | 0 |
UNITED STATES | Mortgages | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 7,362 | 4,681 |
Interest Income Recognized | 0 | 13 |
UNITED STATES | Leasing | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 0 | 0 |
Interest Income Recognized | 0 | 0 |
UNITED STATES | Consumer | Credit cards | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 0 | 0 |
Interest Income Recognized | 0 | 0 |
UNITED STATES | Consumer | Home equity lines of credit | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 1,599 | 1,762 |
Interest Income Recognized | 0 | 0 |
UNITED STATES | Consumer | Personal | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 613 | 206 |
Interest Income Recognized | 0 | 0 |
UNITED STATES | Consumer | Auto | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 0 | 0 |
Interest Income Recognized | 0 | 0 |
UNITED STATES | Consumer | Other | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Average Recorded Investment | 0 | 44 |
Interest Income Recognized | $ 0 | $ 0 |
Note Allowance for loan loss114
Note Allowance for loan losses (Troubled debt restructuring according to their accruing status) (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 |
Troubled Debt Restructuring | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | $ 124,037 | $ 140,438 | |
Commercial | |||
Troubled Debt Restructuring | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 55,098 | 71,419 | |
Construction | |||
Troubled Debt Restructuring | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 172 | 158 | |
Mortgages | |||
Troubled Debt Restructuring | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 43,252 | 42,570 | |
Leasing | |||
Troubled Debt Restructuring | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 608 | 687 | |
Consumer | |||
Troubled Debt Restructuring | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 24,907 | $ 25,604 | |
Non Covered Loans | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 1,179,908 | $ 1,151,343 | |
Non Covered Loans | TDR | |||
Troubled Debt Restructuring | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 116,510 | 106,184 | |
Non Covered Loans | Commercial | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 258,375 | 254,532 | |
Non Covered Loans | Commercial | TDR | |||
Troubled Debt Restructuring | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 47,571 | 37,355 | |
Non Covered Loans | Construction | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 2,020 | 2,480 | |
Non Covered Loans | Construction | TDR | |||
Troubled Debt Restructuring | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 172 | 264 | |
Non Covered Loans | Mortgages | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 800,413 | 774,496 | |
Non Covered Loans | Mortgages | TDR | |||
Troubled Debt Restructuring | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 43,252 | 44,029 | |
Non Covered Loans | Leasing | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 2,391 | 2,400 | |
Non Covered Loans | Leasing | TDR | |||
Troubled Debt Restructuring | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 608 | 573 | |
Non Covered Loans | Consumer | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 116,709 | 117,435 | |
Non Covered Loans | Consumer | TDR | |||
Troubled Debt Restructuring | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 24,907 | 23,963 | |
Covered loans | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 5,458 | 6,596 | |
Covered loans | TDR | |||
Troubled Debt Restructuring | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | 0 | |
Covered loans | Mortgages | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 5,458 | 6,596 | |
Covered loans | Mortgages | TDR | |||
Troubled Debt Restructuring | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | 0 | |
Non-Accruing | Non Covered Loans | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 223,579 | 234,273 | |
Non-Accruing | Non Covered Loans | Commercial | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 87,841 | 88,117 | |
Non-Accruing | Non Covered Loans | Construction | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 1,826 | 2,259 | |
Non-Accruing | Non Covered Loans | Mortgages | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 120,694 | 130,483 | |
Non-Accruing | Non Covered Loans | Leasing | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 642 | 609 | |
Non-Accruing | Non Covered Loans | Consumer | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 12,576 | 12,805 | |
Non-Accruing | Covered loans | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 2,500 | 3,268 | |
Non-Accruing | Covered loans | Mortgages | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 2,500 | 3,268 | |
Accruing | Non Covered Loans | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 956,329 | 917,070 | |
Accruing | Non Covered Loans | Commercial | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 170,534 | 166,415 | |
Accruing | Non Covered Loans | Construction | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 194 | 221 | |
Accruing | Non Covered Loans | Mortgages | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 679,719 | 644,013 | |
Accruing | Non Covered Loans | Leasing | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 1,749 | 1,791 | |
Accruing | Non Covered Loans | Consumer | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 104,133 | 104,630 | |
Accruing | Covered loans | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 2,958 | 3,328 | |
Accruing | Covered loans | Mortgages | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | $ 2,958 | $ 3,328 |
Note Allowance for loan loss115
Note Allowance for loan losses (Troubled debt restructurings loan count by type of modification) (Detail) - loans | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 489 | 490 |
Extension of Maturity Date | 19 | 48 |
Combination Interest Rate Reduction Maturity Date Extension | 126 | 120 |
Other Modifications | 229 | 203 |
Commercial multi-family | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 0 | 0 |
Extension of Maturity Date | 0 | 2 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 |
Other Modifications | 0 | 0 |
CRE non-owner occupied | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 1 | 2 |
Extension of Maturity Date | 1 | 1 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 |
Other Modifications | 0 | 0 |
CRE owner occupied | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 16 | 2 |
Extension of Maturity Date | 1 | 3 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 |
Other Modifications | 0 | 0 |
Commercial and industrial | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 6 | 5 |
Extension of Maturity Date | 0 | 5 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 |
Other Modifications | 0 | 0 |
Construction | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 0 | 1 |
Extension of Maturity Date | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 |
Other Modifications | 0 | 0 |
Mortgages | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 20 | 13 |
Extension of Maturity Date | 10 | 20 |
Combination Interest Rate Reduction Maturity Date Extension | 123 | 106 |
Other Modifications | 55 | 15 |
Legacy | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 0 | 0 |
Extension of Maturity Date | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 |
Other Modifications | 0 | 0 |
Leasing | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 0 | 0 |
Extension of Maturity Date | 0 | 1 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 12 |
Other Modifications | 0 | 0 |
Credit cards | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 175 | 228 |
Extension of Maturity Date | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 |
Other Modifications | 174 | 187 |
Home equity lines of credit | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 0 | 0 |
Extension of Maturity Date | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 1 | 0 |
Other Modifications | 0 | 1 |
Personal | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 261 | 228 |
Extension of Maturity Date | 5 | 14 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 |
Other Modifications | 0 | 0 |
Auto | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 0 | 0 |
Extension of Maturity Date | 2 | 2 |
Combination Interest Rate Reduction Maturity Date Extension | 2 | 2 |
Other Modifications | 0 | 0 |
Other | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 10 | 11 |
Extension of Maturity Date | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 |
Other Modifications | 0 | 0 |
PUERTO RICO | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 489 | 490 |
Extension of Maturity Date | 19 | 47 |
Combination Interest Rate Reduction Maturity Date Extension | 114 | 112 |
Other Modifications | 228 | 202 |
PUERTO RICO | Commercial multi-family | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 0 | 0 |
Extension of Maturity Date | 0 | 2 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 |
Other Modifications | 0 | 0 |
PUERTO RICO | CRE non-owner occupied | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 1 | 2 |
Extension of Maturity Date | 1 | 1 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 |
Other Modifications | 0 | 0 |
PUERTO RICO | CRE owner occupied | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 16 | 2 |
Extension of Maturity Date | 1 | 3 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 |
Other Modifications | 0 | 0 |
PUERTO RICO | Commercial and industrial | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 6 | 5 |
Extension of Maturity Date | 0 | 5 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 |
Other Modifications | 0 | 0 |
PUERTO RICO | Construction | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 0 | 1 |
Extension of Maturity Date | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 |
Other Modifications | 0 | 0 |
PUERTO RICO | Mortgages | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 20 | 13 |
Extension of Maturity Date | 10 | 19 |
Combination Interest Rate Reduction Maturity Date Extension | 112 | 98 |
Other Modifications | 54 | 15 |
PUERTO RICO | Leasing | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 0 | 0 |
Extension of Maturity Date | 0 | 1 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 12 |
Other Modifications | 0 | 0 |
PUERTO RICO | Credit cards | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 175 | 228 |
Extension of Maturity Date | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 |
Other Modifications | 174 | 187 |
PUERTO RICO | Home equity lines of credit | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 0 | 0 |
Extension of Maturity Date | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 |
Other Modifications | 0 | 0 |
PUERTO RICO | Personal | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 261 | 228 |
Extension of Maturity Date | 5 | 14 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 |
Other Modifications | 0 | 0 |
PUERTO RICO | Auto | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 0 | 0 |
Extension of Maturity Date | 2 | 2 |
Combination Interest Rate Reduction Maturity Date Extension | 2 | 2 |
Other Modifications | 0 | 0 |
PUERTO RICO | Other | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 10 | 11 |
Extension of Maturity Date | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 |
Other Modifications | 0 | 0 |
UNITED STATES | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 0 | 0 |
Extension of Maturity Date | 0 | 1 |
Combination Interest Rate Reduction Maturity Date Extension | 12 | 8 |
Other Modifications | 1 | 1 |
UNITED STATES | Commercial multi-family | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 0 | 0 |
Extension of Maturity Date | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 |
Other Modifications | 0 | 0 |
UNITED STATES | CRE non-owner occupied | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 0 | 0 |
Extension of Maturity Date | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 |
Other Modifications | 0 | 0 |
UNITED STATES | CRE owner occupied | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 0 | 0 |
Extension of Maturity Date | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 |
Other Modifications | 0 | 0 |
UNITED STATES | Commercial and industrial | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 0 | 0 |
Extension of Maturity Date | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 |
Other Modifications | 0 | 0 |
UNITED STATES | Construction | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 0 | 0 |
Extension of Maturity Date | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 |
Other Modifications | 0 | 0 |
UNITED STATES | Mortgages | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 0 | 0 |
Extension of Maturity Date | 0 | 1 |
Combination Interest Rate Reduction Maturity Date Extension | 11 | 8 |
Other Modifications | 1 | 0 |
UNITED STATES | Legacy | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 0 | 0 |
Extension of Maturity Date | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 |
Other Modifications | 0 | 0 |
UNITED STATES | Credit cards | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 0 | 0 |
Extension of Maturity Date | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 |
Other Modifications | 0 | 0 |
UNITED STATES | Home equity lines of credit | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 0 | 0 |
Extension of Maturity Date | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 1 | 0 |
Other Modifications | 0 | 1 |
UNITED STATES | Personal | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 0 | 0 |
Extension of Maturity Date | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 |
Other Modifications | 0 | 0 |
UNITED STATES | Auto | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 0 | 0 |
Extension of Maturity Date | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 |
Other Modifications | 0 | 0 |
UNITED STATES | Other | ||
Troubled Debt Restructuring | ||
Reduction In Interest Rate | 0 | 0 |
Extension of Maturity Date | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 |
Other Modifications | 0 | 0 |
Note Allowance for loan loss116
Note Allowance for loan losses (Quantitative information by loan class for loans modified as T D R) (Detail) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016USD ($)loans | Mar. 31, 2015USD ($)loans | |
Troubled Debt Restructuring | ||
Loan count | loans | 863 | 861 |
Pre-Modification Recorded Investment | $ 45,430 | $ 53,953 |
Post Modification Recorded Investment | 44,780 | 56,543 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 8,089 | $ 6,329 |
Commercial multi-family | ||
Troubled Debt Restructuring | ||
Loan count | loans | 0 | 2 |
Pre-Modification Recorded Investment | $ 0 | $ 551 |
Post Modification Recorded Investment | 0 | 551 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ 2 |
CRE non-owner occupied | ||
Troubled Debt Restructuring | ||
Loan count | loans | 2 | 3 |
Pre-Modification Recorded Investment | $ 6,323 | $ 18,000 |
Post Modification Recorded Investment | 6,307 | 17,998 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 4,163 | $ 2,986 |
CRE owner occupied | ||
Troubled Debt Restructuring | ||
Loan count | loans | 17 | 5 |
Pre-Modification Recorded Investment | $ 3,095 | $ 4,759 |
Post Modification Recorded Investment | 3,149 | 4,552 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 136 | $ 171 |
Commercial and industrial | ||
Troubled Debt Restructuring | ||
Loan count | loans | 6 | 10 |
Pre-Modification Recorded Investment | $ 2,529 | $ 5,534 |
Post Modification Recorded Investment | 2,527 | 5,889 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 5 | $ 224 |
Construction | ||
Troubled Debt Restructuring | ||
Loan count | loans | 0 | 1 |
Pre-Modification Recorded Investment | $ 0 | $ 268 |
Post Modification Recorded Investment | 0 | 259 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ (166) |
Mortgages | ||
Troubled Debt Restructuring | ||
Loan count | loans | 208 | 154 |
Pre-Modification Recorded Investment | $ 25,572 | $ 16,370 |
Post Modification Recorded Investment | 24,474 | 18,231 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 2,229 | $ 1,421 |
Legacy | ||
Troubled Debt Restructuring | ||
Loan count | loans | 0 | 0 |
Pre-Modification Recorded Investment | $ 0 | $ 0 |
Post Modification Recorded Investment | 0 | 0 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ 0 |
Leasing | ||
Troubled Debt Restructuring | ||
Loan count | loans | 0 | 13 |
Pre-Modification Recorded Investment | $ 0 | $ 323 |
Post Modification Recorded Investment | 0 | 325 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ 73 |
Credit cards | ||
Troubled Debt Restructuring | ||
Loan count | loans | 349 | 415 |
Pre-Modification Recorded Investment | $ 3,256 | $ 3,617 |
Post Modification Recorded Investment | 3,665 | 4,066 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 576 | $ 629 |
Home equity lines of credit | ||
Troubled Debt Restructuring | ||
Loan count | loans | 1 | 1 |
Pre-Modification Recorded Investment | $ 147 | $ 0 |
Post Modification Recorded Investment | 147 | 92 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 77 | $ 9 |
Personal | ||
Troubled Debt Restructuring | ||
Loan count | loans | 266 | 242 |
Pre-Modification Recorded Investment | $ 4,413 | $ 4,502 |
Post Modification Recorded Investment | 4,411 | 4,500 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 887 | $ 967 |
Auto | ||
Troubled Debt Restructuring | ||
Loan count | loans | 4 | 4 |
Pre-Modification Recorded Investment | $ 72 | $ 0 |
Post Modification Recorded Investment | 76 | 51 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 12 | $ 8 |
Other | ||
Troubled Debt Restructuring | ||
Loan count | loans | 10 | 11 |
Pre-Modification Recorded Investment | $ 23 | $ 29 |
Post Modification Recorded Investment | 24 | 29 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 4 | $ 5 |
PUERTO RICO | ||
Troubled Debt Restructuring | ||
Loan count | loans | 850 | 851 |
Pre-Modification Recorded Investment | $ 44,116 | $ 53,485 |
Post Modification Recorded Investment | 43,403 | 54,986 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 7,589 | $ 6,238 |
PUERTO RICO | Commercial multi-family | ||
Troubled Debt Restructuring | ||
Loan count | loans | 0 | 2 |
Pre-Modification Recorded Investment | $ 0 | $ 551 |
Post Modification Recorded Investment | 0 | 551 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ 2 |
PUERTO RICO | CRE non-owner occupied | ||
Troubled Debt Restructuring | ||
Loan count | loans | 2 | 3 |
Pre-Modification Recorded Investment | $ 6,323 | $ 18,000 |
Post Modification Recorded Investment | 6,307 | 17,998 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 4,163 | $ 2,986 |
PUERTO RICO | CRE owner occupied | ||
Troubled Debt Restructuring | ||
Loan count | loans | 17 | 5 |
Pre-Modification Recorded Investment | $ 3,095 | $ 4,759 |
Post Modification Recorded Investment | 3,149 | 4,552 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 136 | $ 171 |
PUERTO RICO | Commercial and industrial | ||
Troubled Debt Restructuring | ||
Loan count | loans | 6 | 10 |
Pre-Modification Recorded Investment | $ 2,529 | $ 5,534 |
Post Modification Recorded Investment | 2,527 | 5,889 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 5 | $ 224 |
PUERTO RICO | Construction | ||
Troubled Debt Restructuring | ||
Loan count | loans | 0 | 1 |
Pre-Modification Recorded Investment | $ 0 | $ 268 |
Post Modification Recorded Investment | 0 | 259 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ (166) |
PUERTO RICO | Mortgages | ||
Troubled Debt Restructuring | ||
Loan count | loans | 196 | 145 |
Pre-Modification Recorded Investment | $ 24,405 | $ 15,902 |
Post Modification Recorded Investment | 23,244 | 16,766 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 1,806 | $ 1,339 |
PUERTO RICO | Leasing | ||
Troubled Debt Restructuring | ||
Loan count | loans | 0 | 13 |
Pre-Modification Recorded Investment | $ 0 | $ 323 |
Post Modification Recorded Investment | 0 | 325 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ 73 |
PUERTO RICO | Credit cards | ||
Troubled Debt Restructuring | ||
Loan count | loans | 349 | 415 |
Pre-Modification Recorded Investment | $ 3,256 | $ 3,617 |
Post Modification Recorded Investment | 3,665 | 4,066 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 576 | $ 629 |
PUERTO RICO | Home equity lines of credit | ||
Troubled Debt Restructuring | ||
Loan count | loans | 0 | 0 |
Pre-Modification Recorded Investment | $ 0 | $ 0 |
Post Modification Recorded Investment | 0 | 0 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ 0 |
PUERTO RICO | Personal | ||
Troubled Debt Restructuring | ||
Loan count | loans | 266 | 242 |
Pre-Modification Recorded Investment | $ 4,413 | $ 4,502 |
Post Modification Recorded Investment | 4,411 | 4,500 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 887 | $ 967 |
PUERTO RICO | Auto | ||
Troubled Debt Restructuring | ||
Loan count | loans | 4 | 4 |
Pre-Modification Recorded Investment | $ 72 | $ 0 |
Post Modification Recorded Investment | 76 | 51 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 12 | $ 8 |
PUERTO RICO | Other | ||
Troubled Debt Restructuring | ||
Loan count | loans | 10 | 11 |
Pre-Modification Recorded Investment | $ 23 | $ 29 |
Post Modification Recorded Investment | 24 | 29 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 4 | $ 5 |
UNITED STATES | ||
Troubled Debt Restructuring | ||
Loan count | loans | 13 | 10 |
Pre-Modification Recorded Investment | $ 1,314 | $ 468 |
Post Modification Recorded Investment | 1,377 | 1,557 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 500 | $ 91 |
UNITED STATES | Commercial multi-family | ||
Troubled Debt Restructuring | ||
Loan count | loans | 0 | 0 |
Pre-Modification Recorded Investment | $ 0 | $ 0 |
Post Modification Recorded Investment | 0 | 0 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ 0 |
UNITED STATES | CRE non-owner occupied | ||
Troubled Debt Restructuring | ||
Loan count | loans | 0 | 0 |
Pre-Modification Recorded Investment | $ 0 | $ 0 |
Post Modification Recorded Investment | 0 | 0 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ 0 |
UNITED STATES | CRE owner occupied | ||
Troubled Debt Restructuring | ||
Loan count | loans | 0 | 0 |
Pre-Modification Recorded Investment | $ 0 | $ 0 |
Post Modification Recorded Investment | 0 | 0 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ 0 |
UNITED STATES | Commercial and industrial | ||
Troubled Debt Restructuring | ||
Loan count | loans | 0 | 0 |
Pre-Modification Recorded Investment | $ 0 | $ 0 |
Post Modification Recorded Investment | 0 | 0 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ 0 |
UNITED STATES | Construction | ||
Troubled Debt Restructuring | ||
Loan count | loans | 0 | 0 |
Pre-Modification Recorded Investment | $ 0 | $ 0 |
Post Modification Recorded Investment | 0 | 0 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ 0 |
UNITED STATES | Mortgages | ||
Troubled Debt Restructuring | ||
Loan count | loans | 12 | 9 |
Pre-Modification Recorded Investment | $ 1,167 | $ 468 |
Post Modification Recorded Investment | 1,230 | 1,465 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 423 | $ 82 |
UNITED STATES | Legacy | ||
Troubled Debt Restructuring | ||
Loan count | loans | 0 | 0 |
Pre-Modification Recorded Investment | $ 0 | $ 0 |
Post Modification Recorded Investment | 0 | 0 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ 0 |
UNITED STATES | Credit cards | ||
Troubled Debt Restructuring | ||
Loan count | loans | 0 | 0 |
Pre-Modification Recorded Investment | $ 0 | $ 0 |
Post Modification Recorded Investment | 0 | 0 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ 0 |
UNITED STATES | Home equity lines of credit | ||
Troubled Debt Restructuring | ||
Loan count | loans | 1 | 1 |
Pre-Modification Recorded Investment | $ 147 | $ 0 |
Post Modification Recorded Investment | 147 | 92 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 77 | $ 9 |
UNITED STATES | Personal | ||
Troubled Debt Restructuring | ||
Loan count | loans | 0 | 0 |
Pre-Modification Recorded Investment | $ 0 | $ 0 |
Post Modification Recorded Investment | 0 | 0 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ 0 |
UNITED STATES | Auto | ||
Troubled Debt Restructuring | ||
Loan count | loans | 0 | 0 |
Pre-Modification Recorded Investment | $ 0 | $ 0 |
Post Modification Recorded Investment | 0 | 0 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ 0 |
UNITED STATES | Other | ||
Troubled Debt Restructuring | ||
Loan count | loans | 0 | 0 |
Pre-Modification Recorded Investment | $ 0 | $ 0 |
Post Modification Recorded Investment | 0 | 0 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ 0 |
Note Allowance for loan loss117
Note Allowance for loan losses (T D R that subsequently defaulted) (Detail) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2016USD ($)loans | Mar. 31, 2015USD ($)loans | ||
Troubled Debt Restructuring | |||
Loan count | loans | 186 | 208 | |
Recorded investment as of first default date | $ | $ 8,300 | $ 5,336 | |
Commercial multi-family | |||
Troubled Debt Restructuring | |||
Loan count | loans | 0 | 0 | |
Recorded investment as of first default date | $ | $ 0 | $ 0 | |
CRE non-owner occupied | |||
Troubled Debt Restructuring | |||
Loan count | loans | 2 | 0 | |
Recorded investment as of first default date | $ | $ 327 | $ 0 | |
CRE owner occupied | |||
Troubled Debt Restructuring | |||
Loan count | loans | 6 | 1 | |
Recorded investment as of first default date | $ | $ 2,456 | $ 291 | |
Commercial and industrial | |||
Troubled Debt Restructuring | |||
Loan count | loans | 0 | 1 | |
Recorded investment as of first default date | $ | $ 0 | $ 90 | |
Construction | |||
Troubled Debt Restructuring | |||
Loan count | loans | 0 | 2 | |
Recorded investment as of first default date | $ | $ 0 | $ 1,192 | |
Mortgages | |||
Troubled Debt Restructuring | |||
Loan count | loans | 27 | 22 | |
Recorded investment as of first default date | $ | $ 3,235 | $ 1,695 | |
Legacy | |||
Troubled Debt Restructuring | |||
Loan count | loans | 0 | 0 | |
Recorded investment as of first default date | $ | $ 0 | $ 0 | |
Leasing | |||
Troubled Debt Restructuring | |||
Loan count | loans | 0 | 0 | |
Recorded investment as of first default date | $ | $ 0 | $ 0 | |
Credit cards | |||
Troubled Debt Restructuring | |||
Loan count | loans | 106 | 153 | |
Recorded investment as of first default date | $ | $ 1,122 | $ 1,792 | |
Home equity lines of credit | |||
Troubled Debt Restructuring | |||
Loan count | loans | 0 | 0 | |
Recorded investment as of first default date | $ | $ 0 | $ 0 | |
Personal | |||
Troubled Debt Restructuring | |||
Loan count | loans | 43 | 22 | |
Recorded investment as of first default date | $ | $ 1,139 | $ 178 | |
Auto | |||
Troubled Debt Restructuring | |||
Loan count | loans | 1 | 5 | |
Recorded investment as of first default date | $ | $ 17 | $ 96 | |
Other | |||
Troubled Debt Restructuring | |||
Loan count | loans | 1 | 2 | |
Recorded investment as of first default date | $ | $ 4 | $ 2 | |
PUERTO RICO | |||
Troubled Debt Restructuring | |||
Loan count | loans | [1] | 186 | 208 |
Recorded investment as of first default date | $ | [1] | $ 8,300 | $ 5,336 |
PUERTO RICO | Commercial multi-family | |||
Troubled Debt Restructuring | |||
Loan count | loans | 0 | 0 | |
Recorded investment as of first default date | $ | $ 0 | $ 0 | |
PUERTO RICO | CRE non-owner occupied | |||
Troubled Debt Restructuring | |||
Loan count | loans | 2 | 0 | |
Recorded investment as of first default date | $ | $ 327 | $ 0 | |
PUERTO RICO | CRE owner occupied | |||
Troubled Debt Restructuring | |||
Loan count | loans | 6 | 1 | |
Recorded investment as of first default date | $ | $ 2,456 | $ 291 | |
PUERTO RICO | Commercial and industrial | |||
Troubled Debt Restructuring | |||
Loan count | loans | 0 | 1 | |
Recorded investment as of first default date | $ | $ 0 | $ 90 | |
PUERTO RICO | Construction | |||
Troubled Debt Restructuring | |||
Loan count | loans | 0 | 2 | |
Recorded investment as of first default date | $ | $ 0 | $ 1,192 | |
PUERTO RICO | Mortgages | |||
Troubled Debt Restructuring | |||
Loan count | loans | 27 | 22 | |
Recorded investment as of first default date | $ | $ 3,235 | $ 1,695 | |
PUERTO RICO | Leasing | |||
Troubled Debt Restructuring | |||
Loan count | loans | 0 | 0 | |
Recorded investment as of first default date | $ | $ 0 | $ 0 | |
PUERTO RICO | Credit cards | |||
Troubled Debt Restructuring | |||
Loan count | loans | 106 | 153 | |
Recorded investment as of first default date | $ | $ 1,122 | $ 1,792 | |
PUERTO RICO | Home equity lines of credit | |||
Troubled Debt Restructuring | |||
Loan count | loans | 0 | 0 | |
Recorded investment as of first default date | $ | $ 0 | $ 0 | |
PUERTO RICO | Personal | |||
Troubled Debt Restructuring | |||
Loan count | loans | 43 | 22 | |
Recorded investment as of first default date | $ | $ 1,139 | $ 178 | |
PUERTO RICO | Auto | |||
Troubled Debt Restructuring | |||
Loan count | loans | 1 | 5 | |
Recorded investment as of first default date | $ | $ 17 | $ 96 | |
PUERTO RICO | Other | |||
Troubled Debt Restructuring | |||
Loan count | loans | 1 | 2 | |
Recorded investment as of first default date | $ | $ 4 | $ 2 | |
UNITED STATES | |||
Troubled Debt Restructuring | |||
Loan count | loans | 0 | 0 | |
Recorded investment as of first default date | $ | $ 0 | $ 0 | |
UNITED STATES | Commercial multi-family | |||
Troubled Debt Restructuring | |||
Loan count | loans | 0 | 0 | |
Recorded investment as of first default date | $ | $ 0 | $ 0 | |
UNITED STATES | CRE non-owner occupied | |||
Troubled Debt Restructuring | |||
Loan count | loans | 0 | 0 | |
Recorded investment as of first default date | $ | $ 0 | $ 0 | |
UNITED STATES | CRE owner occupied | |||
Troubled Debt Restructuring | |||
Loan count | loans | 0 | 0 | |
Recorded investment as of first default date | $ | $ 0 | $ 0 | |
UNITED STATES | Commercial and industrial | |||
Troubled Debt Restructuring | |||
Loan count | loans | 0 | 0 | |
Recorded investment as of first default date | $ | $ 0 | $ 0 | |
UNITED STATES | Construction | |||
Troubled Debt Restructuring | |||
Loan count | loans | 0 | 0 | |
Recorded investment as of first default date | $ | $ 0 | $ 0 | |
UNITED STATES | Mortgages | |||
Troubled Debt Restructuring | |||
Loan count | loans | 0 | 0 | |
Recorded investment as of first default date | $ | $ 0 | $ 0 | |
UNITED STATES | Legacy | |||
Troubled Debt Restructuring | |||
Loan count | loans | 0 | 0 | |
Recorded investment as of first default date | $ | $ 0 | $ 0 | |
UNITED STATES | Credit cards | |||
Troubled Debt Restructuring | |||
Loan count | loans | 0 | 0 | |
Recorded investment as of first default date | $ | $ 0 | $ 0 | |
UNITED STATES | Home equity lines of credit | |||
Troubled Debt Restructuring | |||
Loan count | loans | 0 | 0 | |
Recorded investment as of first default date | $ | $ 0 | $ 0 | |
UNITED STATES | Personal | |||
Troubled Debt Restructuring | |||
Loan count | loans | 0 | 0 | |
Recorded investment as of first default date | $ | $ 0 | $ 0 | |
UNITED STATES | Auto | |||
Troubled Debt Restructuring | |||
Loan count | loans | 0 | 0 | |
Recorded investment as of first default date | $ | $ 0 | $ 0 | |
UNITED STATES | Other | |||
Troubled Debt Restructuring | |||
Loan count | loans | 0 | 0 | |
Recorded investment as of first default date | $ | $ 0 | $ 0 | |
[1] | Excludes loans for which the Corporation has entered into liquidation agreements with borrowers and guarantors and is accepting payments which differ from the contractual payment schedule. The Corporation considers these as defaulted loans and does not intent to return them to accrual status. |
Note Allowance for loan loss118
Note Allowance for loan losses (Credit quality indicators of non-covered loans held-in-portfolio based obligor risk ratings) (Detail) $ in Thousands | Mar. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 22,507,737 | [1],[2] | $ 22,346,115 | [3],[4] | |
Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 932,405 | 949,996 | |||
Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 758,248 | 782,019 | |||
Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 1,590,365 | 1,626,819 | |||
Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 2,691 | 2,605 | |||
Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 3,584 | 3,868 | |||
Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 3,287,293 | 3,365,307 | |||
Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 19,220,444 | 18,980,808 | |||
Commercial multi-family | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 937,205 | 826,079 | |||
Commercial multi-family | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 15,163 | 15,879 | |||
Commercial multi-family | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 8,168 | 8,469 | |||
Commercial multi-family | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 7,902 | 8,530 | |||
Commercial multi-family | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Commercial multi-family | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Commercial multi-family | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 31,233 | 32,878 | |||
Commercial multi-family | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 905,972 | 793,201 | |||
CRE non-owner occupied | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 3,650,101 | 3,632,115 | |||
CRE non-owner occupied | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 358,747 | 377,014 | |||
CRE non-owner occupied | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 421,965 | 429,836 | |||
CRE non-owner occupied | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 414,657 | 415,722 | |||
CRE non-owner occupied | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
CRE non-owner occupied | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
CRE non-owner occupied | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 1,195,369 | 1,222,572 | |||
CRE non-owner occupied | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 2,454,732 | 2,409,543 | |||
CRE owner occupied | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 2,091,590 | 2,111,588 | |||
CRE owner occupied | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 362,692 | 328,057 | |||
CRE owner occupied | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 145,696 | 163,469 | |||
CRE owner occupied | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 435,252 | 439,409 | |||
CRE owner occupied | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 2,056 | 1,915 | |||
CRE owner occupied | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
CRE owner occupied | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 945,696 | 932,850 | |||
CRE owner occupied | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 1,145,894 | 1,178,738 | |||
Commercial and industrial | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 3,549,493 | 3,529,381 | |||
Commercial and industrial | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 183,876 | 198,447 | |||
Commercial and industrial | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 138,761 | 151,560 | |||
Commercial and industrial | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 378,939 | 388,754 | |||
Commercial and industrial | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 635 | 690 | |||
Commercial and industrial | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 45 | 29 | |||
Commercial and industrial | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 702,256 | 739,480 | |||
Commercial and industrial | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 2,847,237 | 2,789,901 | |||
Commercial | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 10,228,389 | 10,099,163 | |||
Commercial | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 920,478 | 919,397 | |||
Commercial | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 714,590 | 753,334 | |||
Commercial | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 1,236,750 | 1,252,415 | |||
Commercial | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 2,691 | 2,605 | |||
Commercial | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 45 | 29 | |||
Commercial | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 2,874,554 | 2,927,780 | |||
Commercial | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 7,353,835 | 7,171,383 | |||
Construction | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 734,858 | 681,106 | |||
Construction | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 4,015 | 22,360 | |||
Construction | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 38,069 | 22,470 | |||
Construction | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 40,621 | 38,662 | |||
Construction | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Construction | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Construction | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 82,705 | 83,492 | |||
Construction | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 652,153 | 597,614 | |||
Mortgages | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 6,979,201 | 7,036,081 | |||
Mortgages | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 4,566 | 4,810 | |||
Mortgages | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 3,337 | 2,794 | |||
Mortgages | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 230,610 | 251,539 | |||
Mortgages | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Mortgages | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Mortgages | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 238,513 | 259,143 | |||
Mortgages | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 6,740,688 | 6,776,938 | |||
Legacy | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [5] | 61,044 | 64,436 | ||
Legacy | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 1,678 | 1,823 | |||
Legacy | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 1,186 | 1,973 | |||
Legacy | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 6,200 | 6,134 | |||
Legacy | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Legacy | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Legacy | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 9,064 | 9,930 | |||
Legacy | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 51,980 | 54,506 | |||
Leasing | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 643,142 | 627,650 | |||
Leasing | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Leasing | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Leasing | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 3,399 | 3,009 | |||
Leasing | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Leasing | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 20 | 0 | |||
Leasing | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 3,419 | 3,009 | |||
Leasing | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 639,723 | 624,641 | |||
Consumer | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 3,861,103 | 3,837,679 | |||
Consumer | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 1,668 | 1,606 | |||
Consumer | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 1,066 | 1,448 | |||
Consumer | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 72,785 | 75,060 | |||
Consumer | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Consumer | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 3,519 | 3,839 | |||
Consumer | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 79,038 | 81,953 | |||
Consumer | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 3,782,065 | 3,755,726 | |||
Credit cards | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 1,111,801 | 1,142,280 | |||
Credit cards | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Credit cards | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Credit cards | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 19,246 | 19,098 | |||
Credit cards | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Credit cards | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Credit cards | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 19,246 | 19,098 | |||
Credit cards | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 1,092,555 | 1,123,182 | |||
Home equity lines of credit | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 303,889 | 315,172 | |||
Home equity lines of credit | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Home equity lines of credit | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Home equity lines of credit | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 2,293 | 1,944 | |||
Home equity lines of credit | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Home equity lines of credit | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 2,296 | 2,626 | |||
Home equity lines of credit | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 4,589 | 4,570 | |||
Home equity lines of credit | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 299,300 | 310,602 | |||
Personal | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 1,435,804 | 1,375,461 | |||
Personal | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 1,668 | 1,606 | |||
Personal | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 1,066 | 1,448 | |||
Personal | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 21,702 | 23,753 | |||
Personal | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Personal | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 740 | 603 | |||
Personal | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 25,176 | 27,410 | |||
Personal | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 1,410,628 | 1,348,051 | |||
Auto | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 826,329 | 815,978 | |||
Auto | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Auto | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Auto | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 10,817 | 11,609 | |||
Auto | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Auto | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 33 | 30 | |||
Auto | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 10,850 | 11,639 | |||
Auto | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 815,479 | 804,339 | |||
Other | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 183,280 | 188,788 | |||
Other | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Other | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Other | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 18,727 | 18,656 | |||
Other | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Other | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 450 | 580 | |||
Other | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 19,177 | 19,236 | |||
Other | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 164,103 | 169,552 | |||
PUERTO RICO | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 17,525,427 | 17,570,610 | ||
PUERTO RICO | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 862,674 | 838,698 | ||
PUERTO RICO | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 709,857 | 742,750 | ||
PUERTO RICO | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 1,384,426 | 1,434,132 | ||
PUERTO RICO | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 2,691 | 2,605 | ||
PUERTO RICO | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 538 | 634 | ||
PUERTO RICO | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 2,960,186 | 3,018,819 | ||
PUERTO RICO | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 14,565,241 | 14,551,791 | ||
PUERTO RICO | Commercial multi-family | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 174,651 | 132,146 | ||
PUERTO RICO | Commercial multi-family | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 2,899 | 1,750 | ||
PUERTO RICO | Commercial multi-family | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 1,021 | 1,280 | ||
PUERTO RICO | Commercial multi-family | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 6,917 | $ 8,103 | ||
Weighted average obligor risk rating | [6] | 11.17 | 11.13 | ||
PUERTO RICO | Commercial multi-family | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 0 | $ 0 | ||
PUERTO RICO | Commercial multi-family | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Commercial multi-family | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 10,837 | 11,133 | ||
PUERTO RICO | Commercial multi-family | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 163,814 | $ 121,013 | ||
Weighted average obligor risk rating | [6] | 6.04 | 6.04 | ||
PUERTO RICO | CRE non-owner occupied | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 2,659,453 | $ 2,669,092 | ||
PUERTO RICO | CRE non-owner occupied | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 320,015 | 319,564 | ||
PUERTO RICO | CRE non-owner occupied | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 417,911 | 423,095 | ||
PUERTO RICO | CRE non-owner occupied | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 389,243 | $ 399,076 | ||
Weighted average obligor risk rating | [6] | 11.08 | 11.09 | ||
PUERTO RICO | CRE non-owner occupied | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 0 | $ 0 | ||
PUERTO RICO | CRE non-owner occupied | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | CRE non-owner occupied | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 1,127,169 | 1,141,735 | ||
PUERTO RICO | CRE non-owner occupied | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 1,532,284 | $ 1,527,357 | ||
Weighted average obligor risk rating | [6] | 6.67 | 6.67 | ||
PUERTO RICO | CRE owner occupied | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 1,867,789 | $ 1,909,244 | ||
PUERTO RICO | CRE owner occupied | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 355,306 | 316,079 | ||
PUERTO RICO | CRE owner occupied | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 145,492 | 162,395 | ||
PUERTO RICO | CRE owner occupied | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 431,370 | $ 436,442 | ||
Weighted average obligor risk rating | [6] | 11.25 | 11.23 | ||
PUERTO RICO | CRE owner occupied | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 2,056 | $ 1,915 | ||
PUERTO RICO | CRE owner occupied | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | CRE owner occupied | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 934,224 | 916,831 | ||
PUERTO RICO | CRE owner occupied | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 933,565 | $ 992,413 | ||
Weighted average obligor risk rating | [6] | 7.05 | 7.08 | ||
PUERTO RICO | Commercial and industrial | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 2,666,398 | $ 2,657,737 | ||
PUERTO RICO | Commercial and industrial | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 174,205 | 187,620 | ||
PUERTO RICO | Commercial and industrial | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 135,002 | 146,216 | ||
PUERTO RICO | Commercial and industrial | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 247,095 | $ 256,821 | ||
Weighted average obligor risk rating | [6] | 11.14 | 11.15 | ||
PUERTO RICO | Commercial and industrial | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 635 | $ 690 | ||
PUERTO RICO | Commercial and industrial | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 45 | 29 | ||
PUERTO RICO | Commercial and industrial | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 556,982 | 591,376 | ||
PUERTO RICO | Commercial and industrial | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 2,109,416 | $ 2,066,361 | ||
Weighted average obligor risk rating | [6] | 7.1 | 7.13 | ||
PUERTO RICO | Commercial | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 7,368,291 | $ 7,368,219 | ||
PUERTO RICO | Commercial | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 852,425 | 825,013 | ||
PUERTO RICO | Commercial | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 699,426 | 732,986 | ||
PUERTO RICO | Commercial | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 1,074,625 | $ 1,100,442 | ||
Weighted average obligor risk rating | [6] | 11.16 | 11.16 | ||
PUERTO RICO | Commercial | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 2,691 | $ 2,605 | ||
PUERTO RICO | Commercial | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 45 | 29 | ||
PUERTO RICO | Commercial | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 2,629,212 | 2,661,075 | ||
PUERTO RICO | Commercial | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 4,739,079 | $ 4,707,144 | ||
Weighted average obligor risk rating | [6] | 6.93 | 6.95 | ||
PUERTO RICO | Construction | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 105,144 | $ 100,948 | ||
PUERTO RICO | Construction | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 4,015 | 7,269 | ||
PUERTO RICO | Construction | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 6,028 | 5,522 | ||
PUERTO RICO | Construction | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 18,165 | $ 19,806 | ||
Weighted average obligor risk rating | [6] | 11.18 | 11.18 | ||
PUERTO RICO | Construction | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 0 | $ 0 | ||
PUERTO RICO | Construction | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Construction | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 28,208 | 32,597 | ||
PUERTO RICO | Construction | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 76,936 | $ 68,351 | ||
Weighted average obligor risk rating | [6] | 7.5 | 7.56 | ||
PUERTO RICO | Mortgages | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 6,099,759 | $ 6,127,491 | ||
PUERTO RICO | Mortgages | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 4,566 | 4,810 | ||
PUERTO RICO | Mortgages | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 3,337 | 2,794 | ||
PUERTO RICO | Mortgages | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 218,542 | 238,002 | ||
PUERTO RICO | Mortgages | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Mortgages | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Mortgages | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 226,445 | 245,606 | ||
PUERTO RICO | Mortgages | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 5,873,314 | 5,881,885 | ||
PUERTO RICO | Leasing | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 643,142 | 627,650 | ||
PUERTO RICO | Leasing | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Leasing | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Leasing | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 3,399 | 3,009 | ||
PUERTO RICO | Leasing | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Leasing | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 20 | 0 | ||
PUERTO RICO | Leasing | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 3,419 | 3,009 | ||
PUERTO RICO | Leasing | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 639,723 | 624,641 | ||
PUERTO RICO | Consumer | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 3,309,091 | 3,346,302 | ||
PUERTO RICO | Consumer | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 1,668 | 1,606 | ||
PUERTO RICO | Consumer | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 1,066 | 1,448 | ||
PUERTO RICO | Consumer | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 69,695 | 72,873 | ||
PUERTO RICO | Consumer | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Consumer | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 473 | 605 | ||
PUERTO RICO | Consumer | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 72,902 | 76,532 | ||
PUERTO RICO | Consumer | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 3,236,189 | 3,269,770 | ||
PUERTO RICO | Credit cards | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 1,098,783 | 1,128,345 | ||
PUERTO RICO | Credit cards | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Credit cards | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Credit cards | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 18,864 | 19,098 | ||
PUERTO RICO | Credit cards | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Credit cards | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Credit cards | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 18,864 | 19,098 | ||
PUERTO RICO | Credit cards | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 1,079,919 | 1,109,247 | ||
PUERTO RICO | Home equity lines of credit | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 9,629 | 10,688 | ||
PUERTO RICO | Home equity lines of credit | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Home equity lines of credit | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Home equity lines of credit | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 280 | 394 | ||
PUERTO RICO | Home equity lines of credit | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Home equity lines of credit | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Home equity lines of credit | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 280 | 394 | ||
PUERTO RICO | Home equity lines of credit | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 9,349 | 10,294 | ||
PUERTO RICO | Personal | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 1,191,390 | 1,202,835 | ||
PUERTO RICO | Personal | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 1,668 | 1,606 | ||
PUERTO RICO | Personal | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 1,066 | 1,448 | ||
PUERTO RICO | Personal | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 21,013 | 23,116 | ||
PUERTO RICO | Personal | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Personal | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Personal | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 23,747 | 26,170 | ||
PUERTO RICO | Personal | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 1,167,643 | 1,176,665 | ||
PUERTO RICO | Auto | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 826,305 | 815,950 | ||
PUERTO RICO | Auto | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Auto | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Auto | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 10,811 | 11,609 | ||
PUERTO RICO | Auto | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Auto | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 33 | 30 | ||
PUERTO RICO | Auto | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 10,844 | 11,639 | ||
PUERTO RICO | Auto | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 815,461 | 804,311 | ||
PUERTO RICO | Other | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 182,984 | 188,484 | ||
PUERTO RICO | Other | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Other | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Other | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 18,727 | 18,656 | ||
PUERTO RICO | Other | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Other | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 440 | 575 | ||
PUERTO RICO | Other | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 19,167 | 19,231 | ||
PUERTO RICO | Other | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 163,817 | 169,253 | ||
UNITED STATES | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 4,982,310 | 4,775,505 | |||
UNITED STATES | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 69,731 | 111,298 | |||
UNITED STATES | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 48,391 | 39,269 | |||
UNITED STATES | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 205,939 | 192,687 | |||
UNITED STATES | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 3,046 | 3,234 | |||
UNITED STATES | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 327,107 | 346,488 | |||
UNITED STATES | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 4,655,203 | 4,429,017 | |||
UNITED STATES | Commercial multi-family | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 762,554 | 693,933 | |||
UNITED STATES | Commercial multi-family | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 12,264 | 14,129 | |||
UNITED STATES | Commercial multi-family | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 7,147 | 7,189 | |||
UNITED STATES | Commercial multi-family | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 985 | $ 427 | |||
Weighted average obligor risk rating | 11.25 | 11 | |||
UNITED STATES | Commercial multi-family | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 0 | $ 0 | |||
UNITED STATES | Commercial multi-family | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Commercial multi-family | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 20,396 | 21,745 | |||
UNITED STATES | Commercial multi-family | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 742,158 | $ 672,188 | |||
Weighted average obligor risk rating | 7.15 | 7.15 | |||
UNITED STATES | CRE non-owner occupied | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 990,648 | $ 963,023 | |||
UNITED STATES | CRE non-owner occupied | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 38,732 | 57,450 | |||
UNITED STATES | CRE non-owner occupied | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 4,054 | 6,741 | |||
UNITED STATES | CRE non-owner occupied | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 25,414 | $ 16,646 | |||
Weighted average obligor risk rating | 11.44 | 11.02 | |||
UNITED STATES | CRE non-owner occupied | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 0 | $ 0 | |||
UNITED STATES | CRE non-owner occupied | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | CRE non-owner occupied | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 68,200 | 80,837 | |||
UNITED STATES | CRE non-owner occupied | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 922,448 | $ 882,186 | |||
Weighted average obligor risk rating | 6.98 | 6.92 | |||
UNITED STATES | CRE owner occupied | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 223,801 | $ 202,344 | |||
UNITED STATES | CRE owner occupied | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 7,386 | 11,978 | |||
UNITED STATES | CRE owner occupied | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 204 | 1,074 | |||
UNITED STATES | CRE owner occupied | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 3,882 | $ 2,967 | |||
Weighted average obligor risk rating | 11.05 | 11.07 | |||
UNITED STATES | CRE owner occupied | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 0 | $ 0 | |||
UNITED STATES | CRE owner occupied | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | CRE owner occupied | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 11,472 | 16,019 | |||
UNITED STATES | CRE owner occupied | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 212,329 | $ 186,325 | |||
Weighted average obligor risk rating | 6.94 | 7.23 | |||
UNITED STATES | Commercial and industrial | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 883,095 | $ 871,644 | |||
UNITED STATES | Commercial and industrial | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 9,671 | 10,827 | |||
UNITED STATES | Commercial and industrial | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 3,759 | 5,344 | |||
UNITED STATES | Commercial and industrial | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 131,844 | $ 131,933 | |||
Weighted average obligor risk rating | 11.63 | 11.57 | |||
UNITED STATES | Commercial and industrial | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 0 | $ 0 | |||
UNITED STATES | Commercial and industrial | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Commercial and industrial | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 145,274 | 148,104 | |||
UNITED STATES | Commercial and industrial | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 737,821 | $ 723,540 | |||
Weighted average obligor risk rating | 6.16 | 6.24 | |||
UNITED STATES | Commercial | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 2,860,098 | $ 2,730,944 | |||
UNITED STATES | Commercial | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 68,053 | 94,384 | |||
UNITED STATES | Commercial | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 15,164 | 20,348 | |||
UNITED STATES | Commercial | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 162,125 | $ 151,973 | |||
Weighted average obligor risk rating | 11.59 | 11.5 | |||
UNITED STATES | Commercial | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 0 | $ 0 | |||
UNITED STATES | Commercial | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Commercial | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 245,342 | 266,705 | |||
UNITED STATES | Commercial | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 2,614,756 | $ 2,464,239 | |||
Weighted average obligor risk rating | 6.8 | 6.81 | |||
UNITED STATES | Construction | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 629,714 | $ 580,158 | |||
UNITED STATES | Construction | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 15,091 | |||
UNITED STATES | Construction | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 32,041 | 16,948 | |||
UNITED STATES | Construction | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 22,456 | $ 18,856 | |||
Weighted average obligor risk rating | 11.03 | 11 | |||
UNITED STATES | Construction | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 0 | $ 0 | |||
UNITED STATES | Construction | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Construction | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 54,497 | 50,895 | |||
UNITED STATES | Construction | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 575,217 | $ 529,263 | |||
Weighted average obligor risk rating | 7.76 | 7.79 | |||
UNITED STATES | Mortgages | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 879,442 | $ 908,590 | |||
UNITED STATES | Mortgages | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Mortgages | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Mortgages | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 12,068 | 13,537 | |||
UNITED STATES | Mortgages | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Mortgages | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Mortgages | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 12,068 | 13,537 | |||
UNITED STATES | Mortgages | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 867,374 | 895,053 | |||
UNITED STATES | Legacy | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 61,044 | 64,436 | |||
UNITED STATES | Legacy | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 1,678 | 1,823 | |||
UNITED STATES | Legacy | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 1,186 | 1,973 | |||
UNITED STATES | Legacy | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 6,200 | $ 6,134 | |||
Weighted average obligor risk rating | 11.18 | 11.11 | |||
UNITED STATES | Legacy | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 0 | $ 0 | |||
UNITED STATES | Legacy | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Legacy | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 9,064 | 9,930 | |||
UNITED STATES | Legacy | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 51,980 | $ 54,506 | |||
Weighted average obligor risk rating | 7.78 | 7.78 | |||
UNITED STATES | Consumer | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 552,012 | $ 491,377 | |||
UNITED STATES | Consumer | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Consumer | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Consumer | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 3,090 | 2,187 | |||
UNITED STATES | Consumer | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Consumer | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 3,046 | 3,234 | |||
UNITED STATES | Consumer | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 6,136 | 5,421 | |||
UNITED STATES | Consumer | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 545,876 | 485,956 | |||
UNITED STATES | Credit cards | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 13,018 | 13,935 | |||
UNITED STATES | Credit cards | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Credit cards | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Credit cards | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 382 | 0 | |||
UNITED STATES | Credit cards | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Credit cards | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Credit cards | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 382 | 0 | |||
UNITED STATES | Credit cards | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 12,636 | 13,935 | |||
UNITED STATES | Home equity lines of credit | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 294,260 | 304,484 | |||
UNITED STATES | Home equity lines of credit | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Home equity lines of credit | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Home equity lines of credit | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 2,013 | 1,550 | |||
UNITED STATES | Home equity lines of credit | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Home equity lines of credit | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 2,296 | 2,626 | |||
UNITED STATES | Home equity lines of credit | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 4,309 | 4,176 | |||
UNITED STATES | Home equity lines of credit | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 289,951 | 300,308 | |||
UNITED STATES | Personal | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 244,414 | 172,626 | |||
UNITED STATES | Personal | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Personal | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Personal | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 689 | 637 | |||
UNITED STATES | Personal | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Personal | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 740 | 603 | |||
UNITED STATES | Personal | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 1,429 | 1,240 | |||
UNITED STATES | Personal | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 242,985 | 171,386 | |||
UNITED STATES | Auto | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 24 | 28 | |||
UNITED STATES | Auto | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Auto | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Auto | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 6 | 0 | |||
UNITED STATES | Auto | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Auto | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Auto | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 6 | 0 | |||
UNITED STATES | Auto | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 18 | 28 | |||
UNITED STATES | Other | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 296 | 304 | |||
UNITED STATES | Other | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Other | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Other | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Other | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Other | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 10 | 5 | |||
UNITED STATES | Other | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 10 | 5 | |||
UNITED STATES | Other | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 286 | $ 299 | |||
[1] | Includes $7.7 billion pledged to secure credit facilities and public funds that the secured parties are not permitted to sell or repledge the collateral, of which $4.7 billion were pledged at the FHLB as collateral for borrowings, $2.5 billion at the FRB for discount window borrowings and $0.5 billion serve as collateral for public funds. | ||||
[2] | Non-covered loans held-in-portfolio are net of $111 million in unearned income and exclude $125 million in loans held-for-sale. | ||||
[3] | Includes $7.3 billion pledged to secure credit facilities and public funds that the secured parties are not permitted to sell or repledge the collateral, of which $4.3 billion were pledged at the FHLB as collateral for borrowings, $2.5 billion at the FRB for discount window borrowings and $0.5 billion serve as collateral for public funds. | ||||
[4] | Non-covered loans held-in-portfolio are net of $108 million in unearned income and exclude $137 million in loans held-for-sale. | ||||
[5] | The legacy portfolio is comprised of commercial loans, construction loans and lease financings related to certain lending products exited by the Corporation as part of restructuring efforts carried out in prior years at the BPNA segment. | ||||
[6] | Excludes covered loans acquired in the Westernbank FDIC-assisted transaction. |
Note Allowance for loan loss119
Note Allowance for loan losses (Allowance for loan losses - Additional Information) (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Financing Receivable | |||
Recent Loss Trend Adjustment | 12-months | ||
Banco Popular North America | |||
Financing Receivable | |||
Recent Loss Trend Adjustment Percentage | 2.00% | 13.00% | |
Non Covered Loans | |||
Financing Receivable | |||
Troubled debt restructurings | $ 1,179,908 | $ 1,151,343 | |
Non Covered Loans | Banco Popular de Puerto Rico | |||
Financing Receivable | |||
Recent Loss Trend Adjustment Percentage | 44.00% | 59.00% | |
Commercial | Non Covered Loans | |||
Financing Receivable | |||
Troubled debt restructurings | $ 258,375 | 254,532 | |
Mortgage and consumer | |||
Financing Receivable | |||
Historical Loss Period | 18-months | ||
Commercial and construction | |||
Financing Receivable | |||
Historical Loss Period | 5-year | ||
Loan | Commercial | |||
Financing Receivable | |||
Outstanding commitments to lend additional funds to debtors owing receivables whose terms have been modified in troubled debt restructurings | $ 9,000 | $ 11,000 |
Note FDIC loss share asset (Act
Note FDIC loss share asset (Activity in the FDIC loss share indemnification asset) (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Disclosure Activity In The F D I C Loss Share Indemnification Asset [Abstract] | ||
Beginning balance | $ 310,221 | $ 542,454 |
(Amortization) accretion of indemnification asset | (4,042) | (27,316) |
Credit impairment losses to be covered under loss sharing agreements | (2,093) | 8,246 |
Reimbursable Expenses | 3,950 | 21,545 |
FDIC Indemnification Asset Net Cash Payments Received | (88,588) | (132,265) |
Other adjustments attributable to FDIC loss sharing agreements | 0 | (2,820) |
Ending balance | $ 219,448 | $ 409,844 |
Note FDIC loss share asset (Fai
Note FDIC loss share asset (Fair value and the undiscounted amount of the true-up payment obligation) (Detail) - FDIC - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Business Acquisition, Contingent Consideration [Line Items] | ||
Carrying amount (fair value) | $ 120,188 | $ 119,745 |
Undiscounted amount | $ 168,525 | $ 168,692 |
Note FDIC loss share asset (FDI
Note FDIC loss share asset (FDIC loss share - Additional Information) (Detail) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016USD ($)D | Dec. 31, 2015USD ($) | Jun. 30, 2015USD ($) | |
Business Acquisition, Contingent Consideration [Line Items] | |||
True Up Payment Term | D | 45 | ||
Calculation Percent Asset Discount Per Bid | $ 1,100,000 | ||
Intrinsic Loss Estimate | $ 4,600,000 | ||
Servicing Amount Period Trueup Payment | twelve-month period | ||
F D I C Indemnification Asset | $ 219,448 | $ 310,221 | |
Fair Value Inputs Discount Rate | 7.98% | 7.64% | |
Pending Dispute With FDIC | |||
Business Acquisition, Contingent Consideration [Line Items] | |||
Reclassification Of Loans Expiration LSA | $ 248,700 | ||
Payment Percentage True-up Payment | |||
Business Acquisition, Contingent Consideration [Line Items] | |||
Fixed Percentage True Up Payment | 50.00% | ||
Intrinsic Loss Estimate True-up Payment | |||
Business Acquisition, Contingent Consideration [Line Items] | |||
Percent Calculation Intrinsic Loss Estimate | $ 925,000 | ||
Fixed Percentage True Up Payment | 20.00% | ||
Asset Discount True-up Payment | |||
Business Acquisition, Contingent Consideration [Line Items] | |||
Fixed Percentage True Up Payment | 25.00% | ||
Cumulative Shared Loss Payments True-up Payment | |||
Business Acquisition, Contingent Consideration [Line Items] | |||
Fixed Percentage True Up Payment | 25.00% | ||
Servicing Percentage True-up Payment | |||
Business Acquisition, Contingent Consideration [Line Items] | |||
Fixed Percentage True Up Payment | 1.00% | ||
Single Family Loan | |||
Business Acquisition, Contingent Consideration [Line Items] | |||
Weighted Average Life Of Loan Subject To F D I C Agreement | 7 years 11 months | ||
Banco Popular de Puerto Rico | |||
Business Acquisition, Contingent Consideration [Line Items] | |||
Loss Sharing Agreement Allocation Percentage | 80.00% | ||
Banco Popular de Puerto Rico | Pending Dispute With FDIC | |||
Business Acquisition, Contingent Consideration [Line Items] | |||
F D I C Indemnification Asset | $ 149,000 | ||
FDIC | |||
Business Acquisition, Contingent Consideration [Line Items] | |||
Loss Sharing Agreement Allocation Percentage | 80.00% | ||
FDIC | Residential Mortgage | |||
Business Acquisition, Contingent Consideration [Line Items] | |||
Loss Sharing Term | 10 |
Note Mortgage banking activitie
Note Mortgage banking activities (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Mortgage Servicing Rights MSR Impairment Recovery | $ (8,477) | $ (4,929) |
Mortgage Banking Activities | ||
Mortgage servicing fees | 14,802 | 12,248 |
Mortgage Servicing Rights MSR Impairment Recovery | (8,477) | (4,929) |
Servicing Fees Net | 6,325 | 7,319 |
Net gain on sale of loans, including valuation adjustments on loans held-for-sale | 7,110 | 7,280 |
Unrealized gains (losses) on outstanding derivative positions | (80) | 17 |
Realized (losses) on closed derivative positions | (2,804) | (1,764) |
Trading Gains (Losses) | (2,884) | (1,747) |
Mortgage banking activities | $ 10,551 | $ 12,852 |
Note Transfers of financial ass
Note Transfers of financial assets and servicing rights (Initial fair value of assets obtained as proceeds from residential mortgage loans securitized) (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | $ 172,118 | $ 205,976 |
Trading account securities | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 170,248 | 203,414 |
Trading account securities | GNMA | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 134,012 | 156,456 |
Trading account securities | FNMA | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 36,236 | 46,958 |
Mortgage Servicing Rights | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 1,870 | 2,562 |
Level 1 | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 0 | 0 |
Level 1 | Trading account securities | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 0 | 0 |
Level 1 | Trading account securities | GNMA | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 0 | 0 |
Level 1 | Trading account securities | FNMA | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 0 | 0 |
Level 1 | Mortgage Servicing Rights | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 0 | 0 |
Level 2 | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 170,248 | 203,414 |
Level 2 | Trading account securities | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 170,248 | 203,414 |
Level 2 | Trading account securities | GNMA | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 134,012 | 156,456 |
Level 2 | Trading account securities | FNMA | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 36,236 | 46,958 |
Level 2 | Mortgage Servicing Rights | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 0 | 0 |
Level 3 | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 1,870 | 2,562 |
Level 3 | Trading account securities | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 0 | 0 |
Level 3 | Trading account securities | GNMA | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 0 | 0 |
Level 3 | Trading account securities | FNMA | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 0 | 0 |
Level 3 | Mortgage Servicing Rights | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | $ 1,870 | $ 2,562 |
Note Transfers of financial 125
Note Transfers of financial assets and servicing rights (Changes in MSRs measured using the fair value method) (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | ||
Transfers and Servicing of Financial Assets | |||
Fair value at beginning of period | $ 211,405 | $ 148,694 | |
Additions | 2,123 | 5,259 | |
Changes due to payments of loans | (4,254) | [1] | (3,789) |
Reduction due to loan repurchases | (357) | (456) | |
Changes in fair value due to changes in valuation model inputs or assumptions | (3,866) | (684) | |
Fair value at end of period | $ 205,051 | $ 149,024 | |
[1] | Represents changes due to collection / realization of expected cash flows over time. |
Note Transfers of financial 126
Note Transfers of financial assets and servicing rights (Key economic assumptions used in measuring the SR retained at the date of the residential mortgage loan securitizations and whole loan sales by the banking subs) (Detail) - Residential Mortgage | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ||
Prepayment speed | 5.40% | 7.30% |
Weighted average life (in years) | 10 years | 13 years 8 months |
Discount rate (annual rate) | 11.10% | 10.90% |
Note Transfers of financial 127
Note Transfers of financial assets and servicing rights (Key economic assumptions used to estimate the fair value of MSRs derived from sales and securitizations of mortgage loans performed by the banking subsidiaries) (Detail) - Residential Mortgage - Originated MSRs - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] | ||
Fair value of servicing rights | $ 95,043 | $ 98,648 |
Weighted average life | 7 years 4 months | 7 years 4 months |
Weighted average prepayment speed (annual rate) | 6.00% | 6.00% |
Impact on fair value of 10% adverse change | $ (2,376) | $ (2,488) |
Impact on fair value of 20% adverse change | $ (4,982) | $ (5,241) |
Weighted average discount rate (annual rate) | 11.50% | 11.50% |
Impact on fair value of 10% adverse change | $ (3,853) | $ (4,083) |
Impact on fair value of 20% adverse change | $ (7,723) | $ (8,206) |
Note Transfers of financial 128
Note Transfers of financial assets and servicing rights (Fair value of purchased MSRs, their related valuation assumptions and sensitivity to immediate changes in those assumptions) (Detail) - Residential Mortgage - Purchased MSRs - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] | ||
Fair value of servicing rights | $ 110,008 | $ 112,757 |
Weighted average life | 6 years 2 months | 6 years 2 months |
Weighted average prepayment speed (annual rate) | 6.70% | 6.90% |
Impact on fair value of 10% adverse change | $ (2,795) | $ (2,871) |
Impact on fair value of 20% adverse change | $ (5,842) | $ (6,034) |
Weighted average discount rate (annual rate) | 11.00% | 11.00% |
Impact on fair value of 10% adverse change | $ (4,077) | $ (4,211) |
Impact on fair value of 20% adverse change | $ (8,221) | $ (8,525) |
Note Transfers of financial 129
Note Transfers of financial assets and servicing rights (Transfers of financial assets and servicing rights - Additional Information) (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items] | |||
Weighted average mortgage servicing fees | 0.29% | 0.26% | |
Mortgage loans related to buy-back option program | $ 22,618,488 | $ 22,453,813 | |
Transfers Of Financial Assets Accounted For As Sale Initial Fair Value Of Liabilities Incurred | $ 0 | 0 | |
Sensitivity Analysis Of Fair Value Of Interests Continued To Be Held By Transfer or Servicing Assets Or Liabilities Description Of Objectives Methodology And Limitations | The sensitivity analyses presented in the tables above for servicing rights are hypothetical and should be used with caution. As the figures indicate, changes in fair value based on a 10 and 20 percent variation in assumptions generally cannot be extrapolated because the relationship of the change in assumption to the change in fair value may not be linear. Also, in the sensitivity tables included herein, the effect of a variation in a particular assumption on the fair value of the retained interest is calculated without changing any other assumption. In reality, changes in one factor may result in changes in another (for example, increases in market interest rates may result in lower prepayments and increased credit losses), which might magnify or counteract the sensitivities. | ||
Servicing Asset At Fair Value Additions | $ 2,123 | $ 5,259 | |
Mortgage Banking Activities | |||
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items] | |||
Mortgage Servicing Fees Excluding Fair Value | 14,802 | 12,248 | |
Loans with Recourse | |||
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items] | |||
Loans serviced | 1,800,000 | 1,900,000 | |
Buy back option program | |||
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items] | |||
Mortgage loans related to buy-back option program | 146,000 | 140,000 | |
Repurchased Loans | 17,000 | 24,000 | |
Residential Mortgage | |||
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items] | |||
Securitization Financial Asset For Which Transfer Is Accounted As Sale Gain Loss On Sale | 6,400 | 6,400 | |
Serviced Mortgage Loans | |||
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items] | |||
Servicing rights on whole loan sales, principal balance | 18,500 | 22,000 | |
Securitization Financial Asset For Which Transfer Is Accounted As Sale Gain Loss On Sale | 700 | 1,000 | |
Loans serviced | 20,300,000 | $ 20,600,000 | |
Serviced Mortgage Loans | Loans with Recourse | |||
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items] | |||
Repurchased Loans | $ 13,000 | $ 16,000 |
Note Other Real Estate Owned (D
Note Other Real Estate Owned (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Other Real Estate Owned Rollforward [Line Items] | ||
Other Real Estate Owned Beginning Balance | $ 191,916 | $ 265,766 |
Other Real Estate Owned Write Downs | (4,233) | (17,936) |
Additions | 30,569 | 32,529 |
Other Real Estate Owned Sales | (13,744) | (37,799) |
Other adjustments | (2,151) | (833) |
Other Real Estate Owned Ending Balance | 202,357 | 241,727 |
Non-covered loans | Mortgages | ||
Other Real Estate Owned Rollforward [Line Items] | ||
Other Real Estate Owned Beginning Balance | 122,760 | 96,517 |
Other Real Estate Owned Write Downs | (2,016) | (1,372) |
Additions | 24,276 | 21,075 |
Other Real Estate Owned Sales | (8,500) | (13,086) |
Other adjustments | (914) | (572) |
Other Real Estate Owned Ending Balance | 135,606 | 102,562 |
Non-covered loans | Commercial / Construction | ||
Other Real Estate Owned Rollforward [Line Items] | ||
Other Real Estate Owned Beginning Balance | 32,471 | 38,983 |
Other Real Estate Owned Write Downs | (1,717) | (5,887) |
Additions | 1,810 | 2,035 |
Other Real Estate Owned Sales | (1,595) | (9,427) |
Other adjustments | (615) | (96) |
Other Real Estate Owned Ending Balance | 30,354 | 25,608 |
Covered loans | Mortgages | ||
Other Real Estate Owned Rollforward [Line Items] | ||
Other Real Estate Owned Beginning Balance | 36,685 | 44,872 |
Other Real Estate Owned Write Downs | (500) | (1,282) |
Additions | 4,483 | 5,381 |
Other Real Estate Owned Sales | (3,649) | (5,822) |
Other adjustments | (622) | (165) |
Other Real Estate Owned Ending Balance | $ 36,397 | 42,984 |
Covered loans | Commercial / Construction | ||
Other Real Estate Owned Rollforward [Line Items] | ||
Other Real Estate Owned Beginning Balance | 85,394 | |
Other Real Estate Owned Write Downs | (9,395) | |
Additions | 4,038 | |
Other Real Estate Owned Sales | (9,464) | |
Other adjustments | 0 | |
Other Real Estate Owned Ending Balance | $ 70,573 |
Note Other assets by major cate
Note Other assets by major categories (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 |
Deferred Costs Capitalized Prepaid And Other Assets Disclosure Abstract | |||
Net deferred tax assets (net of valuation allowance) | $ 1,275,017 | $ 1,302,452 | |
Investments under the equity method | 216,076 | 212,838 | |
Prepaid taxes | 174,558 | 180,969 | |
Other prepaid expenses | 81,300 | 79,215 | |
Derivative assets | 15,012 | 16,959 | |
Trades receivables from brokers and counterparties | 87,590 | 78,759 | $ 112,287 |
Others | 306,477 | 321,970 | |
Total other assets | $ 2,156,030 | $ 2,193,162 |
Note Goodwill and other intangi
Note Goodwill and other intangible assets (Carrying amount of goodwill by reportable segments) (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Goodwill [Line Items] | ||
Beginning Balance | $ 626,388 | $ 465,676 |
Goodwill on acquisition | 0 | 42,634 |
Purchase accounting adjustments | 4,707 | 0 |
Ending Balance | 631,095 | 508,310 |
Banco Popular de Puerto Rico | ||
Goodwill [Line Items] | ||
Beginning Balance | 280,221 | 250,109 |
Goodwill on acquisition | 0 | 3,899 |
Purchase accounting adjustments | 0 | 0 |
Ending Balance | 280,221 | 254,008 |
Banco Popular North America | ||
Goodwill [Line Items] | ||
Beginning Balance | 346,167 | 215,567 |
Goodwill on acquisition | 0 | 38,735 |
Purchase accounting adjustments | 4,707 | 0 |
Ending Balance | $ 350,874 | $ 254,302 |
Note Goodwill and other inta133
Note Goodwill and other intangible assets (Gross amount of goodwill and accumulated impairment losses by reportable segment and corporate group) (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
Goodwill [Line Items] | ||||
Goodwill Gross | $ 795,506 | $ 790,799 | $ 630,087 | |
Goodwill Impaired Accumulated Impairment Loss | 164,411 | 164,411 | 164,411 | |
Goodwill (net amounts) | 631,095 | 626,388 | $ 508,310 | 465,676 |
Banco Popular de Puerto Rico | ||||
Goodwill [Line Items] | ||||
Goodwill Gross | 280,221 | 280,221 | 250,109 | |
Goodwill Impaired Accumulated Impairment Loss | 0 | 0 | 0 | |
Goodwill (net amounts) | 280,221 | 280,221 | 254,008 | 250,109 |
Banco Popular North America | ||||
Goodwill [Line Items] | ||||
Goodwill Gross | 515,285 | 510,578 | 379,978 | |
Goodwill Impaired Accumulated Impairment Loss | 164,411 | 164,411 | 164,411 | |
Goodwill (net amounts) | $ 350,874 | $ 346,167 | $ 254,302 | $ 215,567 |
Note Goodwill and other inta134
Note Goodwill and other intangible assets (Components of other intangible assets subject to amortization) (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Finite-Lived Intangible Assets [Line Items] | ||
Gross Amount | $ 100,325 | $ 101,204 |
Finite Lived Intangible Assets Accumulated Amortization | 52,359 | 49,209 |
Finite-Lived Intangible Assets, Net | 47,966 | 51,995 |
Core deposits | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Core Deposits, Gross | 63,539 | 63,539 |
Finite Lived Intangible Assets Accumulated Amortization | 40,132 | 38,464 |
Finite-Lived Intangible Assets, Net | 23,407 | 25,075 |
Other customer relationship | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Customer Relationships, Gross | 36,786 | 37,665 |
Finite Lived Intangible Assets Accumulated Amortization | 12,227 | 10,745 |
Finite-Lived Intangible Assets, Net | $ 24,559 | $ 26,920 |
Note Goodwill and other inta135
Note Goodwill and other intangible assets (Estimated amortization of the intangible assets with definite useful lives) (Detail) $ in Thousands | Mar. 31, 2016USD ($) |
Disclosure - Estimated Amortization of the Intangible Assets with Definite Useful Lives [Abstract] | |
Remaining 2,016 | $ 9,030 |
Year 2,017 | 9,378 |
Year 2,018 | 9,286 |
Year 2,019 | 9,042 |
Year 2,020 | 4,967 |
Year 2,021 | $ 2,157 |
Note Goodwill and other inta136
Note Goodwill and other intangible assets - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Line Items] | |||
Indefinite Lived Intangible Assets | $ 6,100 | $ 6,100 | |
Amortization Of Intangible Assets | 3,114 | $ 2,104 | |
Goodwill Purchase Accounting Adjustments | 4,707 | 0 | |
Banco Popular de Puerto Rico | |||
Goodwill and Intangible Assets Disclosure [Line Items] | |||
Goodwill Purchase Accounting Adjustments | 0 | 0 | |
Banco Popular North America | |||
Goodwill and Intangible Assets Disclosure [Line Items] | |||
Goodwill Purchase Accounting Adjustments | 4,707 | 0 | |
Continuing Operations | |||
Goodwill and Intangible Assets Disclosure [Line Items] | |||
Amortization Of Intangible Assets | $ 3,114 | $ 2,104 |
Note Deposits (Total interest b
Note Deposits (Total interest bearing deposits) (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Deposits Abstract | ||
Savings accounts | $ 7,307,272 | $ 7,010,391 |
NOW, money market abd other interest bearing demand deposits | 5,957,465 | 5,632,449 |
Total savings, NOW, money market and other interest bearing demand deposits | 13,264,737 | 12,642,840 |
Time Deposits Abstract | ||
$100000 | 3,798,028 | 4,014,359 |
$100,000 and over | 4,079,735 | 4,151,009 |
Total certificates of deposit | 7,877,763 | 8,165,368 |
Total interest bearing deposits | $ 21,142,500 | $ 20,808,208 |
Note Deposits (Summary of certi
Note Deposits (Summary of certificates of deposit by maturity) (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Deposits Abstract | ||
2,016 | $ 3,780,813 | |
2,017 | 1,452,245 | |
2,018 | 800,872 | |
2,019 | 517,844 | |
2,020 | 974,612 | |
2021 and thereafter | 351,377 | |
Total certificates of deposit | $ 7,877,763 | $ 8,165,368 |
Note Deposits - Additional Info
Note Deposits - Additional Information (Detail) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Deposits Abstract | ||
Brokered deposit | $ 900 | $ 1,300 |
Deposit Liabilities Reclassified As Loans Receivable | $ 9 | $ 11 |
Note Borrowings (Composition of
Note Borrowings (Composition of federal funds purchased and assets sold under agreements to repurchase) (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Federal Funds Purchased and Securities Sold under Agreements to Repurchase | ||
Federal Funds Purchased | $ 50,000 | $ 50,000 |
Assets sold under agreements to repurchase | 710,154 | 712,145 |
Federal Funds Purchased and Securities Sold Under Agreements To Repurchase | $ 760,154 | $ 762,145 |
Note Borrowings (Federal funds
Note Borrowings (Federal funds purchased and repurchase Agreements) (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | $ 710,154 | $ 712,145 |
Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 710,154 | 712,145 |
Obligations of U.S. Government sponsored entities | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 334,408 | 267,074 |
Obligations of U.S. Government sponsored entities | Within 30 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 87,809 | 243,708 |
Obligations of U.S. Government sponsored entities | After 30 to 90 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 54,361 | 0 |
Obligations of U.S. Government sponsored entities | After 90 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 192,238 | 23,366 |
Mortgage Backed Securities | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 349,885 | 421,901 |
Mortgage Backed Securities | Within 30 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 28,340 | 124,878 |
Mortgage Backed Securities | After 30 to 90 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 57,224 | 154,582 |
Mortgage Backed Securities | After 90 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 264,321 | 142,441 |
Collateralized Mortgage Obligations | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 25,861 | 23,170 |
Collateralized Mortgage Obligations | Within 30 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 10,458 | 10,298 |
Collateralized Mortgage Obligations | After 30 to 90 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 0 | 12,872 |
Collateralized Mortgage Obligations | After 90 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | $ 15,403 | $ 0 |
Note Borrowings (Other short-te
Note Borrowings (Other short-term borrowings) (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Short-term Debt [Abstract] | ||
Securities sold not yet purchased | $ 5,170 | $ 0 |
Others | 1,200 | 1,200 |
Total other short-term borrowings | $ 6,370 | $ 1,200 |
Note Borrowings (Notes payable)
Note Borrowings (Notes payable) (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Debt Instrument [Line Items] | ||
Others | $ 18,779 | $ 19,008 |
Notes payable | 1,583,468 | 1,662,508 |
Advances due 2016 To 2029 with fixed Rates 0.41% to 4.19% for 2016 and 2015 | ||
Debt Instrument [Line Items] | ||
Advances with the FHLB | 638,848 | 747,072 |
Floating Rate of 0.34% over the 1 month LIBOR maturing on 2019 | ||
Debt Instrument [Line Items] | ||
Advances with the FHLB | 13,000 | 0 |
Floating Rate from 0.01% to 0.24% over the 3 month LIBOR with maturities ranging from 2017 to 2019 | ||
Debt Instrument [Line Items] | ||
Advances with the FHLB | 30,313 | 14,429 |
Fixed Rate 7.00% Percent Notes Due July 2019 paying interest semiannually, net of debt issuance costs of $6,775 for 2016 $7,296 for 2015 | ||
Debt Instrument [Line Items] | ||
Long Term Debt | 443,225 | 442,704 |
Fixed Rate 6.125% to 8.327% Junior Subordinated Deferrable Interest Debentures Due 2027 to 2034, net of debt issuance costs of $497 for 2016 and $505 for 2015 | ||
Debt Instrument [Line Items] | ||
Long Term Debt | $ 439,303 | $ 439,295 |
Note Borrowings (Notes payab144
Note Borrowings (Notes payable) (Parenthetical) (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Dec. 31, 2015 | |
Advances due 2016 To 2029 with fixed Rates 0.41% to 4.19% for 2016 and 2015 | ||
Debt Instrument [Line Items] | ||
Advances with the FHLB, earliest maturity | 2,016 | |
Advances with the FHLB, latest maturity | 2,029 | |
Advances with the FHLB, interest rate range from | 0.71% | 0.45% |
Advances with the FHLB, interest rate range to | 4.19% | 4.19% |
Floating Rate of 0.34% over the 1 month LIBOR maturing on 2019 | ||
Debt Instrument [Line Items] | ||
Advances with the FHLB, maturity | 2,019 | |
Advances with the FHLB, interest rate | 0.34% | |
Floating Rate from 0.01% to 0.24% over the 3 month LIBOR with maturities ranging from 2017 to 2019 | ||
Debt Instrument [Line Items] | ||
Advances with the FHLB, earliest maturity | 2,017 | |
Advances with the FHLB, latest maturity | 2,019 | |
Advances with the FHLB, interest rate range from | 0.01% | |
Advances with the FHLB, interest rate range to | 0.24% | |
Fixed Rate 7.00% Percent Notes Due July 2019 paying interest semiannually, net of debt issuance costs of $6,775 for 2016 $7,296 for 2015 | ||
Debt Instrument [Line Items] | ||
Senior debt fixed rate | 7.00% | |
Senior Debt Maturity Year | 2,019 | |
Debt issuance costs line of credit arrangements net | $ 6,775 | $ 7,296 |
Fixed Rate 6.125% to 8.327% Junior Subordinated Deferrable Interest Debentures Due 2027 to 2034, net of debt issuance costs of $497 for 2016 and $505 for 2015 | ||
Debt Instrument [Line Items] | ||
Notes payable, interest rate range minimum | 6.125% | |
Notes payable, interest rate range maximum | 8.327% | |
Notes Payable Maturity Year Range Start | 2,027 | |
Notes Payable Maturity Year Range End | 2,034 | |
Debt issuance costs line of credit arrangements net | $ 497 | $ 505 |
Note Borrowings (Borrowings by
Note Borrowings (Borrowings by contractual maturities) (Detail) $ in Thousands | Mar. 31, 2016USD ($) |
Debt Disclosure [Line Items] | |
2,016 | $ 911,926 |
2,017 | 90,939 |
2,018 | 144,503 |
2,019 | 551,314 |
2,020 | 92,529 |
Later years | 558,781 |
Borrowed Funds | 2,349,992 |
Other Short Term Borrowings | |
Debt Disclosure [Line Items] | |
2,016 | 6,370 |
2,017 | 0 |
2,018 | 0 |
2,019 | 0 |
2,020 | 0 |
Later years | 0 |
Borrowed Funds | 6,370 |
Notes Payable | |
Debt Disclosure [Line Items] | |
2,016 | 145,402 |
2,017 | 90,939 |
2,018 | 144,503 |
2,019 | 551,314 |
2,020 | 92,529 |
Later years | 558,781 |
Borrowed Funds | 1,583,468 |
Federal Funds Purchased And Securities Sold Under Agreements To Repurchase | |
Debt Disclosure [Line Items] | |
2,016 | 760,154 |
2,017 | 0 |
2,018 | 0 |
2,019 | 0 |
2,020 | 0 |
Later years | 0 |
Borrowed Funds | $ 760,154 |
Note Borrowings (Additional Inf
Note Borrowings (Additional Information) (Detail) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Debt Disclosure [Line Items] | ||
Federal Home Loan Bank Advances General Debt Obligations Disclosures Amount Of Available Unused Funds | $ 4,100 | $ 3,900 |
Federal Home Loan Bank Advances And Letters Of Credit Amount Used | 922 | 762 |
Pledged Financial Instruments Not Separately Reported Loans For Letter Of Credit Facilities | 240 | |
Federal Reserve Bank Advances | ||
Debt Disclosure [Line Items] | ||
Line Of Credit Facility Current Borrowing Capacity | $ 1,300 | $ 1,300 |
Note Offsetting of financial as
Note Offsetting of financial assets and liabilities (Offsetting of financial assets) (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Derivative Asset Fair Value Net [Abstract] | ||
Derivative Fair Value Of Derivative Asset | $ 15,012 | $ 16,959 |
Derivative Asset, Fair Value, Gross Liability | 0 | 0 |
Derivative Fair Value Of Derivative Asset Amount Not Offset Against Collateral | 15,012 | 16,959 |
Derivative Asset Fair Value Gross Liability Not Offset | 35 | 114 |
Derivative Collateral Obligation To Return Securities | 0 | 0 |
Derivative Asset Collateral Obligation To Return Cash Offset | 0 | 0 |
Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral | 14,977 | 16,845 |
Securities Purchased Under Agreements To Resell Amount Offset Against Collateral [Abstract] | ||
Securities Purchased Under Agreements To Resell Gross | 97,830 | 96,338 |
Securities Purchased Under Agreements To Resell Liability | 0 | 0 |
Securities Purchased Under Agreements To Resell | 97,830 | 96,338 |
Securities Purchased Under Agreements To Resell Not Offset | 0 | 0 |
Securities Purchased Under Agreements To Resell Collateral Obligation To Return Securities | 97,830 | 96,338 |
Securities Purchased Under Agreements To Resell Collateral Obligation To Return Cash | 0 | 0 |
Securities Purchased under Agreements to Resell, Amount Offset Against Collateral, Total | 0 | 0 |
Offsetting Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed [Abstract] | ||
Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Gross | 112,842 | 113,297 |
Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Liability | 0 | 0 |
Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed | 112,842 | 113,297 |
Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Liability Not Offset | 35 | 114 |
Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Collateral Obligation To Return Securities | 97,830 | 96,338 |
Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Collateral Obligation To Return Cash | 0 | 0 |
Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Amount Offset Against Collateral | $ 14,977 | $ 16,845 |
Note Offsetting of financial148
Note Offsetting of financial assets and liabilities (Offsetting of financial liabilities) (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Derivative Liability Fair Value Net [Abstract] | ||
Derivative Fair Value Of Derivative Liability | $ 12,068 | $ 14,343 |
Derivative Liability Fair Value Gross Asset | 0 | 0 |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 12,068 | 14,343 |
Derivative Liability Fair Value Gross Asset Not Offset | 35 | 114 |
Derivative Collateral Right To Reclaim Securities | 3,153 | 4,050 |
Derivative Liability Collateral Right To Reclaim Cash Offset | 0 | 0 |
Derivative Liability, Fair Value, Amount Offset Against Collateral, Total | 8,880 | 10,179 |
Securities Borrowed Amount Offset Against Collateral [Abstract] | ||
Securities Sold Under Agreements To Repurchase Gross | 710,154 | 712,145 |
Securities Sold Under Agreements To Repurchase Asset | 0 | 0 |
Securities Sold Under Agreements To Repurchase Offsetting | 710,154 | 712,145 |
Securities Sold Under Agreements To Repurchase Collateral Right To Reclaim Securities | 710,154 | 712,145 |
Securities Sold Under Agreements To Repurchase Not Offset | 0 | 0 |
Securities Sold Under Agreements To Repurchase Collateral Right To Reclaim Cash | 0 | 0 |
Securities Sold Under Agreements To Repurchase Amount Offset Against Collateral | 0 | 0 |
Offsetting Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned [Abstract] | ||
Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Gross | 722,222 | 726,488 |
Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Asset | 0 | 0 |
Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned | 722,222 | 726,488 |
Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Asset Not Offset | 35 | 114 |
Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Collateral Right To Reclaim Securities | 713,307 | 716,195 |
Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Collateral Right To Reclaim Cash | 0 | 0 |
Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Amount Offset Against Collateral | $ 8,880 | $ 10,179 |
Note Offsetting of financial149
Note Offsetting of financial assets and liabilities (Offsetting of financial assets and liabilities - Additional Information) (Detail) | 3 Months Ended |
Mar. 31, 2016 | |
Offsetting Abstract | |
Derivative Asset Liabilities Setoff Rights Description | The Corporation’s derivatives are subject to agreements which allow a right of set-off with each respective counterparty. |
Securities Purchased Sold Under Agreements To Resell Setoff Rights Description | In addition, the Corporation’s Repurchase Agreements and Reverse Repurchase Agreements 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 agreement and any other amount or obligation owed in respect of any other agreement or transaction between them. |
Note Stockholders' equity - Add
Note Stockholders' equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Stockholders Equity Note [Line Items] | |||
Puerto Rico Laws Restrictions On Banks Net Income | a minimum of 10% of BPPR’s net income | ||
Equity Restrictions | $ 495,000 | $ 495,000 | |
Transfers To Statutory Reserve | 0 | $ 0 | $ 0 |
Dividends, Common Stock, Cash | $ 15,549 | ||
Common Stock Dividends Per Share Declared | $ 0.15 | $ 0 | |
Dividend Payable Date To Be Paid Day Month And Year | Apr. 1, 2016 | ||
Dividends Payable Date Of Record Day Month And Year | Mar. 11, 2016 |
Note Other comprehensive income
Note Other comprehensive income (loss) (Disclosure of accumulated other comprehensive income (loss)) (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Foreign Currency Translation | |||
Beginning Balance | $ (35,930) | $ (32,832) | |
Other comprehensive loss before reclassifications | (705) | (581) | |
Amounts reclassified from accumulated other comprehensive income | 0 | 0 | |
Net change | (705) | (581) | |
Ending Balance | (36,635) | (33,413) | |
Adjustment of pension and postretirement benefit plans | |||
Beginning Balance | (211,276) | (205,187) | |
Amounts reclassified from accumulated other comprehensive income (loss) for amortization of net losses | 3,346 | 3,065 | |
Amounts reclassified from accumulated other comprehensive income (loss) for amortization of prior service cost | (580) | (579) | |
Net change | 2,766 | 2,486 | |
Ending Balance | (208,510) | (202,701) | |
Unrealized net holding (losses) gain on investments | |||
Beginning Balance | (9,560) | 8,465 | |
Other comprehensive (loss) income before reclassification | 73,351 | 34,285 | |
Net change | 73,351 | 34,285 | |
Ending Balance | 63,791 | 42,750 | |
Unrealized net (losses) gain on cash flow hedges | |||
Beginning Balance | (120) | (318) | |
Other comprehensive (loss) income before reclassifications | (1,219) | (1,546) | |
Amounts reclassified from other accumulated other comprehensive (loss) income | 943 | 828 | |
Net change | (276) | (718) | |
Ending Balance | (396) | (1,036) | |
Accumulated other comprehensive (loss) income | $ (181,750) | $ (194,400) | $ (256,886) |
Note Other comprehensive inc152
Note Other comprehensive income (loss) (Reclassification out of accumulated other comprehensive income (loss)) (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||
Reclassification adjustment for (gains) losses included in net income (loss) | $ 0 | $ 0 |
Net Income | 84,999 | 74,826 |
Reclassification out of accumulated other comprehensive income | ||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||
Net Income | (3,709) | (3,314) |
Reclassification out of accumulated other comprehensive income | Adjustment of pension and postretirement benefit plan | ||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||
Total before tax | (4,536) | (4,075) |
Income tax (benefit) expense | 1,770 | 1,589 |
Net Income | (2,766) | (2,486) |
Reclassification out of accumulated other comprehensive income | Adjustment of pension and postretirement benefit plan | Amortization of net losses | ||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||
Personnel costs | (5,486) | (5,025) |
Reclassification out of accumulated other comprehensive income | Adjustment of pension and postretirement benefit plan | Amortization of prior service cost | ||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||
Personnel costs | 950 | 950 |
Reclassification out of accumulated other comprehensive income | Unrealized net (losses) gains on cash flow hedges | Forward contracts | ||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||
Total before tax | (1,545) | (1,358) |
Mortgage banking activities | (1,545) | (1,358) |
Income tax (benefit) expense | 602 | 530 |
Net Income | $ (943) | $ (828) |
Note Guarantees (Changes in the
Note Guarantees (Changes in the Corporation's liability of estimated losses from credit recourses agreements) (Detail) - Financial Guarantee - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Guarantor Obligations | ||
Balance as of beginning of period | $ 58,663 | $ 59,438 |
Provision | 3,920 | 6,500 |
Net charge-offs | (4,589) | (6,553) |
Balance as of end of period | $ 57,994 | $ 59,385 |
Note Guarantees (Changes in 154
Note Guarantees (Changes in the Corporation's liability of estimated losses associated with customary respresentations and warranties related to loans sold by BPPR) (Detail) - Indemnification Guarantee - Banco Popular de Puerto Rico - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Guarantor Obligations | ||
Balance as of beginning of period | $ 8,087 | $ 15,959 |
Provision (reversal) for representations and warranties | 106 | (1,901) |
Net charge-offs | (191) | (14) |
Balance as of end of period | $ 8,002 | $ 14,044 |
Note Guarantees (Credit recours
Note Guarantees (Credit recourse) - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | |
Guarantee on loans sold or serviced with credit recourse | ||||
Guarantor Obligations | ||||
Valuation Allowances And Reserves Balance | $ 57,994 | $ 59,385 | $ 58,663 | $ 59,438 |
Serviced Mortgage Loans | ||||
Guarantor Obligations | ||||
Loans serviced | 20,300,000 | 20,600,000 | ||
Loans with Recourse | ||||
Guarantor Obligations | ||||
Loans serviced | 1,800,000 | $ 1,900,000 | ||
Loans with Recourse | Serviced Mortgage Loans | ||||
Guarantor Obligations | ||||
Repurchased Loans | $ 13,000 | $ 16,000 |
Note Guarantees (Indemnificatio
Note Guarantees (Indemnification, Representations and Warranties related to loans sold) - Additional Information (Detail) - Guarantee on loans sold or serviced with representation and warranties - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | |
Banco Popular de Puerto Rico | ||||
Guarantor Obligations | ||||
Valuation Allowances And Reserves Balance | $ 8,002 | $ 14,044 | $ 8,087 | $ 15,959 |
E-Loan | ||||
Guarantor Obligations | ||||
Valuation Allowances And Reserves Balance | 4,000 | $ 4,000 | ||
Securitization | ||||
Guarantor Obligations | ||||
Repurchased Loans | $ 0 | $ 0 |
Note Guarantees (Other Guarante
Note Guarantees (Other Guarantees) - Additional Information (Detail) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 |
Guarantor Obligations | |||
Funds Advanced To Investors Under Servicing Agreements | $ 76 | $ 31 | |
Popular, Inc. Holding Co. | Debt Securities Payable | |||
Guarantor Obligations | |||
Guarantees, unamortized balance of the obligations | 200 | $ 200 | |
Financial Standby Letter Of Credit | |||
Guarantor Obligations | |||
Guarantees, unamortized balance of the obligations | 0.7 | 0.5 | |
Guarantee Type, Other | Popular, Inc. Holding Co. | Capital securities (trust preferred securities) | |||
Guarantor Obligations | |||
Guarantees, unamortized balance of the obligations | $ 400 | $ 400 |
Note Commitments and Contingenc
Note Commitments and Contingencies (Financial instruments with off-Balance Sheet credit risk) (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Commitments To Extend Credit | Credit card | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Financial Instruments with Off-Balance Sheet Credit Risk | $ 4,562,439 | $ 4,552,331 |
Commitments To Extend Credit | Commercial and construction lines of credit | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Financial Instruments with Off-Balance Sheet Credit Risk | 2,711,061 | 2,619,092 |
Commitments To Extend Credit | Other consumer unused credit commitments | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Financial Instruments with Off-Balance Sheet Credit Risk | 259,134 | 262,685 |
Commercial Letters of Credit | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Financial Instruments with Off-Balance Sheet Credit Risk | 1,560 | 2,040 |
Standby Letters of Credit | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Financial Instruments with Off-Balance Sheet Credit Risk | 36,252 | 49,670 |
Commitments to originate or fund mortgage loans | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Financial Instruments with Off-Balance Sheet Credit Risk | $ 25,079 | $ 21,311 |
Note Commitments and Conting159
Note Commitments and Contingencies (Schedule of Direct Exposure to Puerto Rico Government by Maturity) (Detail) - PR Government Direct Exposure - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | $ 656,165 | $ 669,337 |
From PR Central Government | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 68,413 | |
From Government Development Bank | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 1,455 | |
From Public Corporation - Puerto Rico Aqueduct And Sewer Authority | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 27,650 | |
From Public Corporation - Puerto Rico Electric Power Authority [Member] | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 40,936 | |
From Public Corporation - Puerto Rico Highways And Transportation Authority | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 4 | |
From Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 504,389 | 501,901 |
Total concentration of risk | 517,707 | |
Outstanding Balance | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 564,867 | 577,759 |
Outstanding Balance | From PR Central Government | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 17,619 | |
Outstanding Balance | From Government Development Bank | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 1,455 | |
Outstanding Balance | From Public Corporation - Puerto Rico Aqueduct And Sewer Authority | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 464 | |
Outstanding Balance | From Public Corporation - Puerto Rico Electric Power Authority [Member] | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 40,936 | |
Outstanding Balance | From Public Corporation - Puerto Rico Highways And Transportation Authority | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 4 | |
Outstanding Balance | From Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 504,389 | |
Loans Member | Outstanding Balance | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 490,363 | 502,251 |
Loans Member | Outstanding Balance | From PR Central Government | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 0 | |
Loans Member | Outstanding Balance | From Government Development Bank | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 0 | |
Loans Member | Outstanding Balance | From Public Corporation - Puerto Rico Aqueduct And Sewer Authority | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 0 | |
Loans Member | Outstanding Balance | From Public Corporation - Puerto Rico Electric Power Authority [Member] | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 40,914 | |
Loans Member | Outstanding Balance | From Public Corporation - Puerto Rico Highways And Transportation Authority | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 0 | |
Loans Member | Outstanding Balance | From Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 449,449 | |
Securities Investment Member | Outstanding Balance | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 74,504 | $ 75,508 |
Securities Investment Member | Outstanding Balance | From PR Central Government | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 17,619 | |
Securities Investment Member | Outstanding Balance | From Government Development Bank | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 1,455 | |
Securities Investment Member | Outstanding Balance | From Public Corporation - Puerto Rico Aqueduct And Sewer Authority | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 464 | |
Securities Investment Member | Outstanding Balance | From Public Corporation - Puerto Rico Electric Power Authority [Member] | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 22 | |
Securities Investment Member | Outstanding Balance | From Public Corporation - Puerto Rico Highways And Transportation Authority | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 4 | |
Securities Investment Member | Outstanding Balance | From Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 54,940 | |
Within 1 year | From PR Central Government | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 50,794 | |
Within 1 year | From Government Development Bank | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 3 | |
Within 1 year | From Public Corporation - Puerto Rico Aqueduct And Sewer Authority | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 27,186 | |
Within 1 year | From Public Corporation - Puerto Rico Electric Power Authority [Member] | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 40,914 | |
Within 1 year | From Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 73,324 | |
Within 1 year | Outstanding Balance | From PR Central Government | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 0 | |
Within 1 year | Outstanding Balance | From Government Development Bank | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 3 | |
Within 1 year | Outstanding Balance | From Public Corporation - Puerto Rico Aqueduct And Sewer Authority | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 0 | |
Within 1 year | Outstanding Balance | From Public Corporation - Puerto Rico Electric Power Authority [Member] | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 40,914 | |
Within 1 year | Outstanding Balance | From Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 60,006 | |
Within 1 year | Loans Member | Outstanding Balance | From PR Central Government | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 0 | |
Within 1 year | Loans Member | Outstanding Balance | From Government Development Bank | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 0 | |
Within 1 year | Loans Member | Outstanding Balance | From Public Corporation - Puerto Rico Aqueduct And Sewer Authority | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 0 | |
Within 1 year | Loans Member | Outstanding Balance | From Public Corporation - Puerto Rico Electric Power Authority [Member] | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 40,914 | |
Within 1 year | Loans Member | Outstanding Balance | From Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 56,956 | |
Within 1 year | Securities Investment Member | Outstanding Balance | From PR Central Government | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 0 | |
Within 1 year | Securities Investment Member | Outstanding Balance | From Government Development Bank | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 3 | |
Within 1 year | Securities Investment Member | Outstanding Balance | From Public Corporation - Puerto Rico Aqueduct And Sewer Authority | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 0 | |
Within 1 year | Securities Investment Member | Outstanding Balance | From Public Corporation - Puerto Rico Electric Power Authority [Member] | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 0 | |
Within 1 year | Securities Investment Member | Outstanding Balance | From Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 3,050 | |
After 1 and within 5 years | From PR Central Government | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 887 | |
After 1 and within 5 years | From Government Development Bank | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 1,092 | |
After 1 and within 5 years | From Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 145,205 | |
After 1 and within 5 years | Outstanding Balance | From PR Central Government | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 887 | |
After 1 and within 5 years | Outstanding Balance | From Government Development Bank | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 1,092 | |
After 1 and within 5 years | Outstanding Balance | From Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 145,205 | |
After 1 and within 5 years | Loans Member | Outstanding Balance | From PR Central Government | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 0 | |
After 1 and within 5 years | Loans Member | Outstanding Balance | From Government Development Bank | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 0 | |
After 1 and within 5 years | Loans Member | Outstanding Balance | From Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 130,935 | |
After 1 and within 5 years | Securities Investment Member | Outstanding Balance | From PR Central Government | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 887 | |
After 1 and within 5 years | Securities Investment Member | Outstanding Balance | From Government Development Bank | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 1,092 | |
After 1 and within 5 years | Securities Investment Member | Outstanding Balance | From Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 14,270 | |
After 5 to 10 years | From PR Central Government | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 3,044 | |
After 5 to 10 years | From Government Development Bank | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 360 | |
After 5 to 10 years | From Public Corporation - Puerto Rico Highways And Transportation Authority | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 4 | |
After 5 to 10 years | From Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 157,117 | |
After 5 to 10 years | Outstanding Balance | From PR Central Government | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 3,044 | |
After 5 to 10 years | Outstanding Balance | From Government Development Bank | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 360 | |
After 5 to 10 years | Outstanding Balance | From Public Corporation - Puerto Rico Highways And Transportation Authority | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 4 | |
After 5 to 10 years | Outstanding Balance | From Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 157,117 | |
After 5 to 10 years | Loans Member | Outstanding Balance | From PR Central Government | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 0 | |
After 5 to 10 years | Loans Member | Outstanding Balance | From Government Development Bank | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 0 | |
After 5 to 10 years | Loans Member | Outstanding Balance | From Public Corporation - Puerto Rico Highways And Transportation Authority | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 0 | |
After 5 to 10 years | Loans Member | Outstanding Balance | From Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 138,187 | |
After 5 to 10 years | Securities Investment Member | Outstanding Balance | From PR Central Government | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 3,044 | |
After 5 to 10 years | Securities Investment Member | Outstanding Balance | From Government Development Bank | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 360 | |
After 5 to 10 years | Securities Investment Member | Outstanding Balance | From Public Corporation - Puerto Rico Highways And Transportation Authority | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 4 | |
After 5 to 10 years | Securities Investment Member | Outstanding Balance | From Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 18,930 | |
After 10 years | From PR Central Government | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 13,688 | |
After 10 years | From Public Corporation - Puerto Rico Aqueduct And Sewer Authority | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 464 | |
After 10 years | From Public Corporation - Puerto Rico Electric Power Authority [Member] | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 22 | |
After 10 years | From Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 142,061 | |
After 10 years | Outstanding Balance | From PR Central Government | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 13,688 | |
After 10 years | Outstanding Balance | From Public Corporation - Puerto Rico Aqueduct And Sewer Authority | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 464 | |
After 10 years | Outstanding Balance | From Public Corporation - Puerto Rico Electric Power Authority [Member] | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 22 | |
After 10 years | Outstanding Balance | From Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 142,061 | |
After 10 years | Loans Member | Outstanding Balance | From PR Central Government | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 0 | |
After 10 years | Loans Member | Outstanding Balance | From Public Corporation - Puerto Rico Aqueduct And Sewer Authority | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 0 | |
After 10 years | Loans Member | Outstanding Balance | From Public Corporation - Puerto Rico Electric Power Authority [Member] | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 0 | |
After 10 years | Loans Member | Outstanding Balance | From Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 123,371 | |
After 10 years | Securities Investment Member | Outstanding Balance | From PR Central Government | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 13,688 | |
After 10 years | Securities Investment Member | Outstanding Balance | From Public Corporation - Puerto Rico Aqueduct And Sewer Authority | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 464 | |
After 10 years | Securities Investment Member | Outstanding Balance | From Public Corporation - Puerto Rico Electric Power Authority [Member] | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 22 | |
After 10 years | Securities Investment Member | Outstanding Balance | From Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | $ 18,690 |
Note Commitments and conting160
Note Commitments and contingencies (Commitments) - Additional Information (Detail) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2016USD ($)D | Dec. 31, 2015USD ($) | |||
Commitments and Contingencies Disclosure [Line Items] | ||||
Unrecorded Unconditional Purchase Obligation Balance Sheet Amount | $ 9,000 | $ 9,000 | ||
True Up Payment Term | D | 45 | |||
Loans And Leases Receivable Net Of Deferred Income | $ 22,507,737 | [1],[2] | 22,346,115 | [3],[4] |
PR Government Direct Exposure | ||||
Commitments and Contingencies Disclosure [Line Items] | ||||
Concentration Risk Credit Risk Financial Instrument Maximum Exposure | 656,165 | 669,337 | ||
PR Government Direct Exposure | From PR Government And Public Corporations | ||||
Commitments and Contingencies Disclosure [Line Items] | ||||
Concentration Of Risk Credit Facilities | 60,478 | 75,858 | ||
PR Government Direct Exposure | From Municipalities | ||||
Commitments and Contingencies Disclosure [Line Items] | ||||
Concentration Of Risk Credit Facilities | 504,389 | 501,901 | ||
Concentration Risk Credit Risk Financial Instrument Maximum Exposure | 517,707 | |||
PR Government Direct Exposure | From Public Corporation - Puerto Rico Electric Power Authority [Member] | ||||
Commitments and Contingencies Disclosure [Line Items] | ||||
Concentration Risk Credit Risk Financial Instrument Maximum Exposure | 40,936 | |||
PR Government Indirect Exposure | ||||
Commitments and Contingencies Disclosure [Line Items] | ||||
Concentration Of Risk Credit Facilities | 417,000 | 394,000 | ||
PR Government Indirect Exposure | Housing Bonds backed by GNMA, FNMA or residential CMOs | ||||
Commitments and Contingencies Disclosure [Line Items] | ||||
Concentration Of Risk Credit Facilities | 51,000 | 50,000 | ||
PR Government Indirect Exposure | Commercial real estate | ||||
Commitments and Contingencies Disclosure [Line Items] | ||||
Concentration Of Risk Credit Facilities | 27,000 | 28,000 | ||
Outstanding Balance | PR Government Direct Exposure | ||||
Commitments and Contingencies Disclosure [Line Items] | ||||
Concentration Of Risk Credit Facilities | 564,867 | 577,759 | ||
Outstanding Balance | PR Government Direct Exposure | From Municipalities | ||||
Commitments and Contingencies Disclosure [Line Items] | ||||
Concentration Of Risk Credit Facilities | 504,389 | |||
Outstanding Balance | PR Government Direct Exposure | From Public Corporation - Puerto Rico Electric Power Authority [Member] | ||||
Commitments and Contingencies Disclosure [Line Items] | ||||
Concentration Of Risk Credit Facilities | 40,936 | |||
Outstanding Balance | PR Government Indirect Exposure | ||||
Commitments and Contingencies Disclosure [Line Items] | ||||
Loans and Leases Receivable, Consumer, Mortgage with PRHA | 339,000 | 316,000 | ||
Commitments To Extend Credit | ||||
Commitments and Contingencies Disclosure [Line Items] | ||||
Reserve of potential losses associated with unfunded loan commitments | 10,000 | 10,000 | ||
Loans | Outstanding Balance | PR Government Direct Exposure | ||||
Commitments and Contingencies Disclosure [Line Items] | ||||
Concentration Of Risk Credit Facilities | 490,363 | 502,251 | ||
Loans | Outstanding Balance | PR Government Direct Exposure | From Municipalities | ||||
Commitments and Contingencies Disclosure [Line Items] | ||||
Concentration Of Risk Credit Facilities | 449,449 | |||
Loans | Outstanding Balance | PR Government Direct Exposure | From Public Corporation - Puerto Rico Electric Power Authority [Member] | ||||
Commitments and Contingencies Disclosure [Line Items] | ||||
Concentration Of Risk Credit Facilities | 40,914 | |||
Securities Investment | Outstanding Balance | PR Government Direct Exposure | ||||
Commitments and Contingencies Disclosure [Line Items] | ||||
Concentration Of Risk Credit Facilities | 74,504 | $ 75,508 | ||
Securities Investment | Outstanding Balance | PR Government Direct Exposure | From Municipalities | ||||
Commitments and Contingencies Disclosure [Line Items] | ||||
Concentration Of Risk Credit Facilities | 54,940 | |||
Securities Investment | Outstanding Balance | PR Government Direct Exposure | From Public Corporation - Puerto Rico Electric Power Authority [Member] | ||||
Commitments and Contingencies Disclosure [Line Items] | ||||
Concentration Of Risk Credit Facilities | $ 22 | |||
[1] | Includes $7.7 billion pledged to secure credit facilities and public funds that the secured parties are not permitted to sell or repledge the collateral, of which $4.7 billion were pledged at the FHLB as collateral for borrowings, $2.5 billion at the FRB for discount window borrowings and $0.5 billion serve as collateral for public funds. | |||
[2] | Non-covered loans held-in-portfolio are net of $111 million in unearned income and exclude $125 million in loans held-for-sale. | |||
[3] | Includes $7.3 billion pledged to secure credit facilities and public funds that the secured parties are not permitted to sell or repledge the collateral, of which $4.3 billion were pledged at the FHLB as collateral for borrowings, $2.5 billion at the FRB for discount window borrowings and $0.5 billion serve as collateral for public funds. | |||
[4] | Non-covered loans held-in-portfolio are net of $108 million in unearned income and exclude $137 million in loans held-for-sale. |
Note Commitments and conting161
Note Commitments and contingencies (Legal Proceedings) - Additional Information (Detail) $ in Thousands | 3 Months Ended |
Mar. 31, 2016USD ($) | |
RadioShack ERISA litigation | Banco Popular de Puerto Rico | |
Legal Matters And Contingencies [Line Items] | |
Payments For Legal Settlements | $ 45 |
Multiple Arbitration Proceedings Against Popular Securities And Two Other PR Broker Dealers | Popular Securities | |
Legal Matters And Contingencies [Line Items] | |
Loss Contingency Aggregate Claims Damages Sought | 136,000 |
Loss Contingency Claim Of One Single Arbitration Case | 78,000 |
Minimum | |
Legal Matters And Contingencies [Line Items] | |
Loss Contingency Range Of Possible Loss Portion Not Accrued | 0 |
Maximum | |
Legal Matters And Contingencies [Line Items] | |
Loss Contingency Range Of Possible Loss Portion Not Accrued | $ 37,300 |
Note Commitments and conting162
Note Commitments and contingencies (FDIC dealings section) - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | |||||||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | Nov. 12, 2015 | Jun. 30, 2015 | Apr. 13, 2015 | Apr. 01, 2015 | Nov. 25, 2014 | |
FDIC Dealings [Line Items] | ||||||||
Write-off | $ 59,937 | $ 81,815 | ||||||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | 625,130 | $ 646,115 | ||||||
F D I C Indemnification Asset | 219,448 | 310,221 | ||||||
FDIC | ||||||||
FDIC Dealings [Line Items] | ||||||||
Business Combination Contingent Consideration Liability | 120,188 | 119,745 | ||||||
Banco Popular de Puerto Rico | Pending Dispute With FDIC | ||||||||
FDIC Dealings [Line Items] | ||||||||
Unreimbursed Claims Submitted to the FDIC | $ 6,900 | |||||||
Payments Withheld By The FDIC | $ 5,500 | |||||||
F D I C Indemnification Asset | 149,000 | |||||||
Covered loans | ||||||||
FDIC Dealings [Line Items] | ||||||||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | $ 625,130 | $ 646,115 | ||||||
Covered loans | Banco Popular de Puerto Rico | Pending Dispute With FDIC | ||||||||
FDIC Dealings [Line Items] | ||||||||
Loss Claim Disputed Amount | $ 66,600 | |||||||
Write-off | $ 53,300 | |||||||
F D I C Reimbursable Expenses Clawed Back | $ 1,700 | |||||||
Loss Contingency Increase In Damages Sought Value | $ 1,700 |
Note Non-consolidated VIEs (Car
Note Non-consolidated VIEs (Carrying amount and classification of assets related to the Corporation's VI in non-consolidated VIEs and max exposure to loss) (Detail) - FNMA, GNMA, FHLMC VIE - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | $ 178,191 | $ 187,655 |
Maximum exposure to loss | 178,191 | 187,655 |
Servicing assets | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 156,250 | 163,224 |
Mortgage servicing rights | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 156,250 | 163,224 |
Other assets | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 21,941 | 24,431 |
Servicing advances | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | $ 21,941 | $ 24,431 |
Note Non-consolidated VIEs (164
Note Non-consolidated VIEs (Carrying amount and classification of assets related to the Corporation's VI in non-consolidated VIEs, PRLP 2011 Holdings, LLC and max exposure to loss) (Detail) - PRLP 2011 Holding, LLC - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | $ 10,749 | $ 14,059 |
Liabilities | (3,347) | (18,808) |
Net assets | 7,402 | (4,749) |
Maximum exposure to loss | 7,402 | 0 |
Loan | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 0 | 980 |
Advances Working Capital Line | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 0 | 579 |
Advances Advance Facility | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 0 | 401 |
Accrued Income Receivable | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 0 | 10 |
Equity Method Investments | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 10,749 | 13,069 |
Deposits | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Liabilities | $ (3,347) | $ (18,808) |
Note Non-consolidated VIEs (165
Note Non-consolidated VIEs (Carrying amount and classification of assets related to the Corporation's VI in non-consolidated VIEs, PR Asset Portfolio 2013-1 International, LLC and max exposure to loss) (Detail) - PR Asset Portfolio 2013-1 International, LLC - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | $ 59,730 | $ 83,565 |
Liabilities | (10,360) | (11,772) |
Net assets | 49,370 | 71,793 |
Maximum exposure to loss | 49,370 | 71,793 |
Loan | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 35,028 | 58,302 |
Acquisition Loan | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 9,932 | 35,121 |
Advances Working Capital Line | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 829 | 885 |
Advances Advance Facility | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 24,267 | 22,296 |
Accrued Income Receivable | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 130 | 169 |
Equity Method Investments | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 24,572 | 25,094 |
Deposits | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Liabilities | $ (10,360) | $ (11,772) |
Note Non-consolidated variable
Note Non-consolidated variable interest entities - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | |||
Mar. 31, 2013 | Sep. 30, 2011 | Mar. 31, 2016 | Dec. 31, 2015 | |
PRLP 2011 Holding, LLC | ||||
Variable Interest Entity [Line Items] | ||||
Equity Method Investment Ownership Percentage | 24.90% | 24.90% | ||
Equity Method Investment, Underlying Equity in Net Assets | $ 16 | |||
Loans Receivable, Description of Variable Rate Basis | 5-year maturity and bears a variable interest at 30-day LIBOR plus 300 basis points | |||
Variable Interest Entity, Qualitative or Quantitative Information, Size of VIE | In September of 2011, BPPR sold construction and commercial real estate loans with a fair value of $148 million | |||
Purchase Price Of Loans | 57.00% | |||
Financed Closing Costs | $ 2 | |||
Carrying Amount Of Acquisition Loan Before Financed Closing Costs | 84 | |||
Carrying Amount Of Acquisition Loan After Financed Closing Costs | 86 | |||
Total Working Capital Line | 20 | |||
Total Advance Facility | 68.5 | |||
Cash Received From Investee | 48 | |||
Net Equity Of Investee | 63 | |||
Fair Value Of Assets Sold | $ 148 | |||
PR Asset Portfolio 2013-1 International, LLC | ||||
Variable Interest Entity [Line Items] | ||||
Equity Method Investment Ownership Percentage | 24.90% | 24.90% | ||
Equity Method Investment, Underlying Equity in Net Assets | $ 31 | |||
Loans Receivable, Description of Variable Rate Basis | 5-year maturity and bears a variable interest at 30-day LIBOR plus 300 basis points | |||
Variable Interest Entity, Qualitative or Quantitative Information, Size of VIE | On March 25, 2013, BPPR completed a sale of assets with a book value of $509.0 million, of which $500.6 million were in non-performing status | |||
Purchase Price Of Loans | 57.00% | |||
Carrying Amount Of Acquisition Loan After Financed Closing Costs | $ 182.4 | |||
Total Working Capital Line | 30 | |||
Total Advance Facility | 35 | |||
Cash Received From Investee | 92.3 | |||
Net Equity Of Investee | 124 | |||
Fair Value Of Assets Sold | 306 | |||
Assets Sold | 509 | |||
PR Asset Portfolio 2013-1 International, LLC | Unpaid Principal Balance of Loans and Appraisal Value of OREO | ||||
Variable Interest Entity [Line Items] | ||||
Assets Sold | 987 | |||
PR Asset Portfolio 2013-1 International, LLC | Nonperforming Financing Receivable Member | ||||
Variable Interest Entity [Line Items] | ||||
Assets Sold | $ 500.6 | |||
FNMA, GNMA, FHLMC VIE | ||||
Variable Interest Entity [Line Items] | ||||
Principal Amount Outstanding on Loans Securitized or Asset-backed Financing Arrangement | $ 12,700 | $ 12,800 |
Note Derivative instruments and
Note Derivative instruments and hedging activities (Cash flow hedges and non-hedging derivatives outstanding) (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Derivative Asset Fair Value Net | ||
Derivative assets | $ 15,012 | $ 16,959 |
Derivative Liability Fair Value Net | ||
Derivative liabilities | 12,068 | 14,343 |
Fair Value, Measurements, Recurring | ||
Derivative Asset Fair Value Net | ||
Derivative assets | $ 15,012 | $ 16,959 |
Note Related party transactions
Note Related party transactions (Corporation's equity in Evertec) (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Related Party Transaction [Line Items] | ||
Investment in equity investees | $ 216,076 | $ 212,838 |
EVERTEC Inc. | ||
Related Party Transaction [Line Items] | ||
Investment in equity investees | $ 35,162 | $ 33,590 |
Note Related party transacti169
Note Related party transactions (Financial Condition accounts outstanding with EVERTEC) (Detail) - EVERTEC Inc. - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Related Party Transaction [Line Items] | ||
Accounts receivables (Other assets) | $ 2,980 | $ 3,148 |
Deposits | (21,322) | (23,973) |
Accounts payable (Other liabilities) | (17,480) | (16,192) |
Total | $ (35,822) | $ (37,017) |
Note Related party transacti170
Note Related party transactions (Corporation's equity in PRLP 2011 Holdings, LLC) (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Related Party Transaction [Line Items] | ||
Equity Method Investments | $ 216,076 | $ 212,838 |
PRLP 2011 Holding, LLC | ||
Related Party Transaction [Line Items] | ||
Equity Method Investments | $ 10,749 | $ 13,069 |
Note Related party transacti171
Note Related party transactions (Financial Condition accounts outstanding with PRLP 2011 Holdings, LLC) (Detail) - PRLP 2011 Holding, LLC - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Related Party Transaction [Line Items] | ||
Loans | $ 0 | $ 980 |
Accounts receivables (Other assets) | 0 | 10 |
Deposits | (3,347) | (18,808) |
Total | $ (3,347) | $ (17,818) |
Note Related party transacti172
Note Related party transactions (Proportionate share of income (loss) from PRLP 2011 Holdings, LLC minority interest) (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Related Party Transaction [Line Items] | ||
Income Loss From Equity Method Investments | $ 7,089 | $ 2,301 |
PRLP 2011 Holding, LLC | ||
Related Party Transaction [Line Items] | ||
Income Loss From Equity Method Investments | $ (542) | $ 1,033 |
Note Related party transacti173
Note Related party transactions (Impact on the results of operations of transactions between the Corporation and PRLP 2011 Holdings, LLC) (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Loans | PRLP 2011 Holding, LLC | ||
Related Party Transaction [Line Items] | ||
Interest Income Related Party | $ 11 | $ 62 |
Note Related party transacti174
Note Related party transactions (Corporation's equity in PR Asset Portfolio 2013-1 International, LLC) (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Related Party Transaction [Line Items] | ||
Investment in equity investees | $ 216,076 | $ 212,838 |
PR Asset Portfolio 2013-1 International, LLC | ||
Related Party Transaction [Line Items] | ||
Investment in equity investees | $ 24,572 | $ 25,094 |
Note Related party transacti175
Note Related party transactions (Financial Condition accounts outstanding with PR Asset Portfolio 2013-1 International, LLC) (Detail) - PR Asset Portfolio 2013-1 International, LLC - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Related Party Transaction [Line Items] | ||
Loans | $ 35,028 | $ 58,302 |
Accounts receivables (Other assets) | 130 | 169 |
Deposits | (10,360) | (11,772) |
Total | $ 24,798 | $ 46,699 |
Note Related party transacti176
Note Related party transactions (Proportionate share of income (loss) from PR Asset Portfolio 2013-1 International, LLC minority interest) (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Related Party Transaction [Line Items] | ||
Income Loss From Equity Method Investments | $ 7,089 | $ 2,301 |
PR Asset Portfolio 2013-1 International, LLC | ||
Related Party Transaction [Line Items] | ||
Income Loss From Equity Method Investments | $ (522) | $ (4,335) |
Note Related party transacti177
Note Related party transactions (Impact on the results of operations of transactions between the Corporation and PRAP 2013-1 International, LLC) (Detail) - PR Asset Portfolio 2013-1 International, LLC - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Related Party Transaction [Line Items] | ||
Related Party Transaction Revenues From Transactions With Related Party | $ 444 | $ 866 |
Loans | ||
Related Party Transaction [Line Items] | ||
Interest Income Related Party | 445 | 866 |
Deposits | ||
Related Party Transaction [Line Items] | ||
Interest Expense Related Party | $ (1) | $ 0 |
Note Related party transacti178
Note Related party transactions (Related party transactions with affiliated company - Equity Method - Additional Information) (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2013 | Sep. 30, 2011 | |
Financial Standby Letter Of Credit Member | ||||
Related Party Transaction [Line Items] | ||||
Guarantee Obligations Current Carrying Value | $ 0.7 | $ 0.5 | ||
PRLP 2011 Holding, LLC | ||||
Related Party Transaction [Line Items] | ||||
Equity Method Investment Ownership Percentage | 24.90% | 24.90% | ||
PR Asset Portfolio 2013-1 International, LLC | ||||
Related Party Transaction [Line Items] | ||||
Equity Method Investment Ownership Percentage | 24.90% | 24.90% | ||
EVERTEC Inc. | ||||
Related Party Transaction [Line Items] | ||||
Equity Method Investment Ownership Percentage | 15.58% | |||
Proceeds from Equity Method Investment, Dividends or Distributions | $ 1.2 | 1.2 | ||
EVERTEC Inc. | Financial Standby Letter Of Credit Member | ||||
Related Party Transaction [Line Items] | ||||
Guarantee Obligations Current Carrying Value | $ 4.2 | $ 4.2 |
Note Fair value measurement (As
Note Fair value measurement (Assets and liabilities measured at fair value on a recurring basis) (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | |||
Assets | |||||||
Available For Sale Securities | $ 6,649,830 | [1] | $ 6,062,992 | [2] | |||
Trading Securities | 71,284 | 71,659 | |||||
Mortgage servicing rights | 205,051 | 211,405 | $ 149,024 | $ 148,694 | |||
Derivatives | 15,012 | 16,959 | |||||
US Treasury Securities | |||||||
Assets | |||||||
Available For Sale Securities | 1,323,352 | 1,183,328 | |||||
Obligations of U.S. Government sponsored entities | |||||||
Assets | |||||||
Available For Sale Securities | 932,938 | 939,641 | |||||
Obligations of Puerto Rico, States and political subdivisions | |||||||
Assets | |||||||
Available For Sale Securities | 23,730 | 22,359 | |||||
Collateralized Mortgage Obligations - Federal agencies | |||||||
Assets | |||||||
Available For Sale Securities | 1,513,571 | 1,560,837 | |||||
Mortgage Backed Securities | |||||||
Assets | |||||||
Available For Sale Securities | 2,843,706 | 2,344,196 | |||||
Equity securities | |||||||
Assets | |||||||
Available For Sale Securities | 2,439 | 2,398 | |||||
Other | |||||||
Assets | |||||||
Available For Sale Securities | 10,094 | 10,233 | |||||
Level 1 | |||||||
Assets | |||||||
Available For Sale Securities | [3] | 285 | 276 | ||||
Trading Securities | [3] | 0 | 0 | ||||
Mortgage servicing rights | 0 | 0 | |||||
Derivatives | 0 | 0 | |||||
Liabilities | |||||||
Derivative Financial Instruments Liabilities Fair Value Disclosure | 0 | 0 | |||||
Contingent consideration | 0 | 0 | |||||
Level 2 | |||||||
Assets | |||||||
Available For Sale Securities | [3] | 6,648,123 | 6,061,282 | ||||
Trading Securities | [3] | 63,441 | 62,687 | ||||
Mortgage servicing rights | 0 | 0 | |||||
Derivatives | 15,012 | 16,959 | |||||
Liabilities | |||||||
Derivative Financial Instruments Liabilities Fair Value Disclosure | 12,068 | 14,343 | |||||
Contingent consideration | 0 | 0 | |||||
Level 3 | |||||||
Assets | |||||||
Available For Sale Securities | [3] | 1,422 | 1,434 | ||||
Trading Securities | [3] | 7,843 | 8,972 | ||||
Mortgage servicing rights | 205,051 | 211,405 | |||||
Derivatives | 0 | 0 | |||||
Liabilities | |||||||
Derivative Financial Instruments Liabilities Fair Value Disclosure | 0 | 0 | |||||
Contingent consideration | (120,823) | (120,380) | |||||
Fair Value, Measurements, Recurring | |||||||
Assets | |||||||
Available For Sale Securities | 6,649,830 | 6,062,992 | |||||
Trading Securities | 71,284 | 71,659 | |||||
Mortgage servicing rights | 205,051 | 211,405 | |||||
Derivatives | 15,012 | 16,959 | |||||
Total | 6,941,177 | 6,363,015 | |||||
Liabilities | |||||||
Derivative Financial Instruments Liabilities Fair Value Disclosure | (12,068) | (14,343) | |||||
Contingent consideration | (120,823) | (120,380) | |||||
Total | (132,891) | (134,723) | |||||
Fair Value, Measurements, Recurring | US Treasury Securities | |||||||
Assets | |||||||
Available For Sale Securities | 1,323,352 | 1,183,328 | |||||
Fair Value, Measurements, Recurring | Obligations of U.S. Government sponsored entities | |||||||
Assets | |||||||
Available For Sale Securities | 932,938 | 939,641 | |||||
Fair Value, Measurements, Recurring | Obligations of Puerto Rico, States and political subdivisions | |||||||
Assets | |||||||
Available For Sale Securities | 23,730 | 22,359 | |||||
Trading Securities | 4,307 | 4,590 | |||||
Fair Value, Measurements, Recurring | Collateralized Mortgage Obligations - Federal agencies | |||||||
Assets | |||||||
Available For Sale Securities | 1,513,571 | 1,560,837 | |||||
Fair Value, Measurements, Recurring | Collateralized Mortgage Obligations - Private label | |||||||
Assets | |||||||
Available For Sale Securities | 0 | 0 | |||||
Fair Value, Measurements, Recurring | Mortgage Backed Securities | |||||||
Assets | |||||||
Available For Sale Securities | 2,843,706 | 2,344,196 | |||||
Trading Securities | 52,113 | 51,155 | |||||
Fair Value, Measurements, Recurring | Equity securities | |||||||
Assets | |||||||
Available For Sale Securities | 2,439 | 2,398 | |||||
Fair Value, Measurements, Recurring | Other | |||||||
Assets | |||||||
Available For Sale Securities | 10,094 | 10,233 | |||||
Trading Securities | 12,864 | 13,860 | |||||
Fair Value, Measurements, Recurring | Collateralized Mortgage Obligations | |||||||
Assets | |||||||
Trading Securities | 2,000 | 2,054 | |||||
Fair Value, Measurements, Recurring | Level 1 | |||||||
Assets | |||||||
Available For Sale Securities | 285 | 276 | |||||
Trading Securities | 0 | 0 | |||||
Mortgage servicing rights | 0 | 0 | |||||
Derivatives | 0 | 0 | |||||
Total | 285 | 276 | |||||
Liabilities | |||||||
Derivative Financial Instruments Liabilities Fair Value Disclosure | 0 | 0 | |||||
Contingent consideration | 0 | 0 | |||||
Total | 0 | 0 | |||||
Fair Value, Measurements, Recurring | Level 1 | US Treasury Securities | |||||||
Assets | |||||||
Available For Sale Securities | 0 | 0 | |||||
Fair Value, Measurements, Recurring | Level 1 | Obligations of U.S. Government sponsored entities | |||||||
Assets | |||||||
Available For Sale Securities | 0 | 0 | |||||
Fair Value, Measurements, Recurring | Level 1 | Obligations of Puerto Rico, States and political subdivisions | |||||||
Assets | |||||||
Available For Sale Securities | 0 | 0 | |||||
Trading Securities | 0 | 0 | |||||
Fair Value, Measurements, Recurring | Level 1 | Collateralized Mortgage Obligations - Federal agencies | |||||||
Assets | |||||||
Available For Sale Securities | 0 | 0 | |||||
Fair Value, Measurements, Recurring | Level 1 | Collateralized Mortgage Obligations - Private label | |||||||
Assets | |||||||
Available For Sale Securities | 0 | 0 | |||||
Fair Value, Measurements, Recurring | Level 1 | Mortgage Backed Securities | |||||||
Assets | |||||||
Available For Sale Securities | 0 | 0 | |||||
Trading Securities | 0 | 0 | |||||
Fair Value, Measurements, Recurring | Level 1 | Equity securities | |||||||
Assets | |||||||
Available For Sale Securities | 285 | 276 | |||||
Fair Value, Measurements, Recurring | Level 1 | Other | |||||||
Assets | |||||||
Available For Sale Securities | 0 | 0 | |||||
Trading Securities | 0 | 0 | |||||
Fair Value, Measurements, Recurring | Level 1 | Collateralized Mortgage Obligations | |||||||
Assets | |||||||
Trading Securities | 0 | 0 | |||||
Fair Value, Measurements, Recurring | Level 2 | |||||||
Assets | |||||||
Available For Sale Securities | 6,648,123 | 6,061,282 | |||||
Trading Securities | 63,441 | 62,687 | |||||
Mortgage servicing rights | 0 | 0 | |||||
Derivatives | 15,012 | 16,959 | |||||
Total | 6,726,576 | 6,140,928 | |||||
Liabilities | |||||||
Derivative Financial Instruments Liabilities Fair Value Disclosure | (12,068) | (14,343) | |||||
Contingent consideration | 0 | 0 | |||||
Total | (12,068) | (14,343) | |||||
Fair Value, Measurements, Recurring | Level 2 | US Treasury Securities | |||||||
Assets | |||||||
Available For Sale Securities | 1,323,352 | 1,183,328 | |||||
Fair Value, Measurements, Recurring | Level 2 | Obligations of U.S. Government sponsored entities | |||||||
Assets | |||||||
Available For Sale Securities | 932,938 | 939,641 | |||||
Fair Value, Measurements, Recurring | Level 2 | Obligations of Puerto Rico, States and political subdivisions | |||||||
Assets | |||||||
Available For Sale Securities | 23,730 | 22,359 | |||||
Trading Securities | 4,307 | 4,590 | |||||
Fair Value, Measurements, Recurring | Level 2 | Collateralized Mortgage Obligations - Federal agencies | |||||||
Assets | |||||||
Available For Sale Securities | 1,513,571 | 1,560,837 | |||||
Fair Value, Measurements, Recurring | Level 2 | Collateralized Mortgage Obligations - Private label | |||||||
Assets | |||||||
Available For Sale Securities | 0 | 0 | |||||
Fair Value, Measurements, Recurring | Level 2 | Mortgage Backed Securities | |||||||
Assets | |||||||
Available For Sale Securities | 2,842,284 | 2,342,762 | |||||
Trading Securities | 46,716 | 44,701 | |||||
Fair Value, Measurements, Recurring | Level 2 | Equity securities | |||||||
Assets | |||||||
Available For Sale Securities | 2,154 | 2,122 | |||||
Fair Value, Measurements, Recurring | Level 2 | Other | |||||||
Assets | |||||||
Available For Sale Securities | 10,094 | 10,233 | |||||
Trading Securities | 12,201 | 13,173 | |||||
Fair Value, Measurements, Recurring | Level 2 | Collateralized Mortgage Obligations | |||||||
Assets | |||||||
Trading Securities | 217 | 223 | |||||
Fair Value, Measurements, Recurring | Level 3 | |||||||
Assets | |||||||
Available For Sale Securities | 1,422 | 1,434 | |||||
Trading Securities | 7,843 | 8,972 | |||||
Mortgage servicing rights | 205,051 | 211,405 | |||||
Derivatives | 0 | 0 | |||||
Total | 214,316 | 221,811 | |||||
Liabilities | |||||||
Derivative Financial Instruments Liabilities Fair Value Disclosure | 0 | 0 | |||||
Contingent consideration | (120,823) | (120,380) | |||||
Total | (120,823) | (120,380) | |||||
Fair Value, Measurements, Recurring | Level 3 | US Treasury Securities | |||||||
Assets | |||||||
Available For Sale Securities | 0 | 0 | |||||
Fair Value, Measurements, Recurring | Level 3 | Obligations of U.S. Government sponsored entities | |||||||
Assets | |||||||
Available For Sale Securities | 0 | 0 | |||||
Fair Value, Measurements, Recurring | Level 3 | Obligations of Puerto Rico, States and political subdivisions | |||||||
Assets | |||||||
Available For Sale Securities | 0 | 0 | |||||
Trading Securities | 0 | 0 | |||||
Fair Value, Measurements, Recurring | Level 3 | Collateralized Mortgage Obligations - Federal agencies | |||||||
Assets | |||||||
Available For Sale Securities | 0 | 0 | |||||
Fair Value, Measurements, Recurring | Level 3 | Collateralized Mortgage Obligations - Private label | |||||||
Assets | |||||||
Available For Sale Securities | 0 | 0 | |||||
Fair Value, Measurements, Recurring | Level 3 | Mortgage Backed Securities | |||||||
Assets | |||||||
Available For Sale Securities | 1,422 | 1,434 | |||||
Trading Securities | 5,397 | 6,454 | |||||
Fair Value, Measurements, Recurring | Level 3 | Equity securities | |||||||
Assets | |||||||
Available For Sale Securities | 0 | 0 | |||||
Fair Value, Measurements, Recurring | Level 3 | Other | |||||||
Assets | |||||||
Available For Sale Securities | 0 | 0 | |||||
Trading Securities | 663 | 687 | |||||
Fair Value, Measurements, Recurring | Level 3 | Collateralized Mortgage Obligations | |||||||
Assets | |||||||
Trading Securities | $ 1,783 | $ 1,831 | |||||
[1] | Includes $2.2 billion pledged to secure public and trust deposits, assets sold under agreements to repurchase, credit facilities and loan servicing agreements that the secured parties are not permitted to sell or repledge the collateral, of which $1.3 billion serve as collateral for public funds. | ||||||
[2] | Includes $2.4 billion pledged to secure public and trust deposits, assets sold under agreements to repurchase, credit facilities and loan servicing agreements that the secured parties are not permitted to sell or repledge the collateral, of which $1.5 billion serve as collateral for public funds. | ||||||
[3] | Refer to Note 29 to the consolidated financial statements for the fair value by class of financial asset and its hierarchy level. |
Note Fair value measurement 180
Note Fair value measurement (Assets measured at fair value on nonrecurring basis) (Detail) - Fair Value, Measurements, Nonrecurring - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
Fair Value by Asset Class [Domain] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | $ 30,785 | $ 132,007 |
Loans held-for-sale | 1,829 | 0 |
Other real estate owned | 18,592 | 36,402 |
Other Foreclosed Assets | 66 | 151 |
Total | 51,272 | 168,560 |
Write-down | (27,077) | (45,361) |
Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Write-down | (22,850) | (26,817) |
Loans Held-for-Sale | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Write-down | (296) | 0 |
Other real estate owned | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Write-down | (3,920) | (17,936) |
Other foreclosed assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Write-down | (11) | (608) |
Level 1 | Fair Value by Asset Class [Domain] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 0 | 0 |
Loans held-for-sale | 0 | 0 |
Other real estate owned | 0 | 0 |
Other Foreclosed Assets | 0 | 0 |
Total | 0 | 0 |
Level 2 | Fair Value by Asset Class [Domain] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 0 | 0 |
Loans held-for-sale | 0 | 0 |
Other real estate owned | 0 | 6,098 |
Other Foreclosed Assets | 0 | 20 |
Total | 0 | 6,118 |
Level 3 | Fair Value by Asset Class [Domain] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 30,785 | 132,007 |
Loans held-for-sale | 1,829 | 0 |
Other real estate owned | 18,592 | 30,304 |
Other Foreclosed Assets | 66 | 131 |
Total | $ 51,272 | $ 162,442 |
Note Fair value measurement (Ch
Note Fair value measurement (Changes in level 3 assets and liabilities measured at fair value on a recurring basis) (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Assets, Fair Value Disclosure [Abstract] | ||
Beginning Balance | $ 221,811 | $ 159,186 |
Gains (Losses) included in earnings | (8,420) | (4,942) |
Gains (losses) included in OCI | 15 | 0 |
Additions | 2,635 | 5,507 |
Sales | (1,226) | (124) |
Settlements | (499) | (161) |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Ending Balance | 214,316 | 159,466 |
Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss | (3,772) | (645) |
Liabilities, Fair Value Disclosure [Abstract] | ||
Beginning Balance | (120,380) | (133,634) |
Gains (Losses) included in earnings | (443) | 4,164 |
Gains (losses) included in OCI | 0 | 0 |
Additions | 0 | 0 |
Sales | 0 | 0 |
Settlements | 0 | 0 |
Transfer into Level 3 | 0 | 0 |
Transfer out of Level 3 | 0 | 0 |
Ending Balance | (120,823) | (129,470) |
Fair Value Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss | (443) | 4,164 |
Other liabilities | Contingent consideration | ||
Liabilities, Fair Value Disclosure [Abstract] | ||
Beginning Balance | (120,380) | (133,634) |
Gains (Losses) included in earnings | (443) | 4,164 |
Gains (losses) included in OCI | 0 | 0 |
Additions | 0 | 0 |
Sales | 0 | 0 |
Settlements | 0 | 0 |
Ending Balance | (120,823) | (129,470) |
Fair Value Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss | (443) | 4,164 |
Available For Sale Securities | Mortgage Backed Securities | ||
Assets, Fair Value Disclosure [Abstract] | ||
Beginning Balance | 1,434 | 1,325 |
Gains (Losses) included in earnings | (2) | (8) |
Gains (losses) included in OCI | 15 | 0 |
Additions | 0 | 118 |
Sales | 0 | 0 |
Settlements | (25) | 0 |
Ending Balance | 1,422 | 1,435 |
Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss | 0 | 0 |
Trading account securities | Mortgage Backed Securities | ||
Assets, Fair Value Disclosure [Abstract] | ||
Beginning Balance | 6,454 | 6,229 |
Gains (Losses) included in earnings | 89 | 16 |
Gains (losses) included in OCI | 0 | 0 |
Additions | 338 | 130 |
Sales | (1,120) | (80) |
Settlements | (364) | (74) |
Ending Balance | 5,397 | 6,221 |
Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss | 86 | 18 |
Trading account securities | Collateralized Mortgage Obligations | ||
Assets, Fair Value Disclosure [Abstract] | ||
Beginning Balance | 1,831 | 1,375 |
Gains (Losses) included in earnings | (6) | (2) |
Gains (losses) included in OCI | 0 | 0 |
Additions | 174 | 0 |
Sales | (106) | (44) |
Settlements | (110) | (87) |
Ending Balance | 1,783 | 1,242 |
Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss | (3) | (2) |
Trading account securities | Other | ||
Assets, Fair Value Disclosure [Abstract] | ||
Beginning Balance | 687 | 1,563 |
Gains (Losses) included in earnings | (24) | (19) |
Gains (losses) included in OCI | 0 | 0 |
Additions | 0 | 0 |
Sales | 0 | 0 |
Settlements | 0 | 0 |
Ending Balance | 663 | 1,544 |
Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss | 11 | 23 |
Mortgage Servicing Rights | ||
Assets, Fair Value Disclosure [Abstract] | ||
Beginning Balance | 211,405 | 148,694 |
Gains (Losses) included in earnings | (8,477) | (4,929) |
Gains (losses) included in OCI | 0 | 0 |
Additions | 2,123 | 5,259 |
Sales | 0 | 0 |
Settlements | 0 | 0 |
Ending Balance | 205,051 | 149,024 |
Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss | $ (3,866) | $ (684) |
Note Fair value measurement (Ga
Note Fair value measurement (Gains and losses (realized and unrealized) included in earnings for level 3 assets and liabilities) (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation Abstract | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | $ (8,420) | $ (4,942) |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings | (443) | 4,164 |
Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss | (3,772) | (645) |
Fair Value Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss | (443) | 4,164 |
Fair Value, Assets and Liabilities Measured on Recurring Basis, Gain (Loss) Included in Earnings | (8,863) | (778) |
Fair Value Assets And Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss Total | (4,215) | 3,519 |
Interest Income | ||
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation Abstract | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | (2) | (8) |
Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss | 0 | 0 |
Other Fee Revenue | ||
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation Abstract | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | (8,477) | (4,929) |
Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss | (3,866) | (684) |
Trading Gains Losses | ||
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation Abstract | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | 59 | (5) |
Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss | 94 | 39 |
FDIC Loss Share Expense Income | ||
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation Abstract | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings | (443) | 4,164 |
Fair Value Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss | $ (443) | $ 4,164 |
Note Fair value measurement (Qu
Note Fair value measurement (Quantitative inputs level 3) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | ||
Assets, Fair Value Disclosure [Abstract] | |||||
Trading Securities | $ 71,284 | $ 71,659 | |||
Servicing Asset At Fair Value Amount | $ 205,051 | $ 211,405 | $ 149,024 | $ 148,694 | |
Fair Value Inputs Quantitative Information [Abstract] | |||||
Discount Rate | 7.98% | 7.64% | |||
Fair Value, Measurements, Recurring | |||||
Assets, Fair Value Disclosure [Abstract] | |||||
Trading Securities | $ 71,284 | $ 71,659 | |||
Servicing Asset At Fair Value Amount | 205,051 | 211,405 | |||
Liabilities, Fair Value Disclosure [Abstract] | |||||
Contingent consideration | (120,823) | (120,380) | |||
Fair Value, Measurements, Nonrecurring | |||||
Assets, Fair Value Disclosure [Abstract] | |||||
Loans Receivable, Fair Value Disclosure | [1] | 30,785 | 132,007 | ||
Real Estate Acquired Through Foreclosure | [2] | 18,592 | 36,402 | ||
Other Foreclosed Assets | [2] | 66 | 151 | ||
Contingent consideration | Fair Value Inputs Level 3 Internal Valuation Technique | Fair Value, Measurements, Recurring | |||||
Liabilities, Fair Value Disclosure [Abstract] | |||||
Contingent consideration | $ (120,188) | ||||
Fair Value Inputs [Abstract] | |||||
Fair Value Measurements, Valuation Techniques | Discounted cash flow model | ||||
Unobservable Inputs | Credit loss rate on covered loans / Risk premium component of discount rate | ||||
Contingent consideration | Fair Value Inputs Level 3 Internal Valuation Technique | Fair Value, Measurements, Recurring | Maximum | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Credit Loss Rate | 100.00% | ||||
Contingent consideration | Fair Value Inputs Level 3 Internal Valuation Technique | Fair Value, Measurements, Recurring | Minimum | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Credit Loss Rate | 0.00% | ||||
Contingent consideration | Fair Value Inputs Level 3 Internal Valuation Technique | Fair Value, Measurements, Recurring | Weighted Average | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Credit Loss Rate | 2.90% | ||||
Contingent consideration | Fair Value Inputs Level 3 Internal Valuation Technique | Fair Value, Measurements, Recurring | Risk Premium | Weighted Average | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Discount Rate | 6.90% | ||||
Mortgage Servicing Rights | Fair Value Inputs Level 3 Internal Valuation Technique | Fair Value, Measurements, Recurring | |||||
Assets, Fair Value Disclosure [Abstract] | |||||
Servicing Asset At Fair Value Amount | $ 205,051 | ||||
Fair Value Inputs [Abstract] | |||||
Fair Value Measurements, Valuation Techniques | Discounted cash flow model | ||||
Unobservable Inputs | Prepayment speed / Weighted average life / Discount rate | ||||
Mortgage Servicing Rights | Fair Value Inputs Level 3 Internal Valuation Technique | Fair Value, Measurements, Recurring | Maximum | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Prepayment speed | 12.00% | ||||
Weighted average life (in years) | 17 years 10 months | ||||
Discount Rate | 15.00% | ||||
Mortgage Servicing Rights | Fair Value Inputs Level 3 Internal Valuation Technique | Fair Value, Measurements, Recurring | Minimum | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Prepayment speed | 0.20% | ||||
Weighted average life (in years) | 1 month | ||||
Discount Rate | 9.50% | ||||
Mortgage Servicing Rights | Fair Value Inputs Level 3 Internal Valuation Technique | Fair Value, Measurements, Recurring | Weighted Average | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Prepayment speed | 6.40% | ||||
Weighted average life (in years) | 6 years 7 months | ||||
Discount Rate | 11.20% | ||||
Loan | Fair Value Inputs Level 3 Internal Valuation Technique | Fair Value, Measurements, Nonrecurring | |||||
Assets, Fair Value Disclosure [Abstract] | |||||
Loans Receivable, Fair Value Disclosure | [3] | $ 30,785 | |||
Fair Value Inputs [Abstract] | |||||
Fair Value Measurements, Valuation Techniques | External appraisal | ||||
Unobservable Inputs | Haircut applied on external appraisals | ||||
Loan | Fair Value Inputs Level 3 Internal Valuation Technique | Fair Value, Measurements, Nonrecurring | Maximum | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Haircut Applied On External Appraisal | 40.00% | ||||
Loan | Fair Value Inputs Level 3 Internal Valuation Technique | Fair Value, Measurements, Nonrecurring | Minimum | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Haircut Applied On External Appraisal | 39.70% | ||||
Loan | Fair Value Inputs Level 3 Internal Valuation Technique | Fair Value, Measurements, Nonrecurring | Weighted Average | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Haircut Applied On External Appraisal | 40.00% | ||||
Other real estate owned | Fair Value Inputs Level 3 Internal Valuation Technique | Fair Value, Measurements, Nonrecurring | |||||
Assets, Fair Value Disclosure [Abstract] | |||||
Real Estate Acquired Through Foreclosure | [4] | $ 18,368 | |||
Fair Value Inputs [Abstract] | |||||
Fair Value Measurements, Valuation Techniques | External appraisal | ||||
Unobservable Inputs | Haircut applied on external appraisals | ||||
Other real estate owned | Fair Value Inputs Level 3 Internal Valuation Technique | Fair Value, Measurements, Nonrecurring | Maximum | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Haircut Applied On External Appraisal | 40.00% | ||||
Other real estate owned | Fair Value Inputs Level 3 Internal Valuation Technique | Fair Value, Measurements, Nonrecurring | Minimum | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Haircut Applied On External Appraisal | 10.00% | ||||
Other real estate owned | Fair Value Inputs Level 3 Internal Valuation Technique | Fair Value, Measurements, Nonrecurring | Weighted Average | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Haircut Applied On External Appraisal | 20.10% | ||||
Collateralized Mortgage Obligations | Fair Value, Measurements, Recurring | |||||
Assets, Fair Value Disclosure [Abstract] | |||||
Trading Securities | $ 2,000 | 2,054 | |||
Collateralized Mortgage Obligations | Trading account securities | Fair Value Inputs Level 3 Internal Valuation Technique | Fair Value, Measurements, Recurring | |||||
Assets, Fair Value Disclosure [Abstract] | |||||
Trading Securities | $ 1,783 | ||||
Fair Value Inputs [Abstract] | |||||
Fair Value Measurements, Valuation Techniques | Discounted cash flow model | ||||
Unobservable Inputs | Weighted average life / Yield / Constant prepayment rate | ||||
Collateralized Mortgage Obligations | Trading account securities | Fair Value Inputs Level 3 Internal Valuation Technique | Fair Value, Measurements, Recurring | Maximum | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Weighted Average Life | 4 years 7 months | ||||
Yield | 4.70% | ||||
Constant Prepayment Rate | 24.10% | ||||
Collateralized Mortgage Obligations | Trading account securities | Fair Value Inputs Level 3 Internal Valuation Technique | Fair Value, Measurements, Recurring | Minimum | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Weighted Average Life | 5 months | ||||
Yield | 1.10% | ||||
Constant Prepayment Rate | 18.00% | ||||
Collateralized Mortgage Obligations | Trading account securities | Fair Value Inputs Level 3 Internal Valuation Technique | Fair Value, Measurements, Recurring | Weighted Average | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Weighted Average Life | 2 years 11 months | ||||
Yield | 3.80% | ||||
Constant Prepayment Rate | 20.80% | ||||
Other | Fair Value, Measurements, Recurring | |||||
Assets, Fair Value Disclosure [Abstract] | |||||
Trading Securities | $ 12,864 | $ 13,860 | |||
Other | Trading account securities | Fair Value Inputs Level 3 Internal Valuation Technique | Fair Value, Measurements, Recurring | |||||
Assets, Fair Value Disclosure [Abstract] | |||||
Trading Securities | $ 663 | ||||
Fair Value Inputs [Abstract] | |||||
Fair Value Measurements, Valuation Techniques | Discounted cash flow model | ||||
Unobservable Inputs | Weighted average life / Yield / Constant prepayment rate | ||||
Other | Trading account securities | Fair Value Inputs Level 3 Internal Valuation Technique | Fair Value, Measurements, Recurring | Weighted Average | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Weighted Average Life | 5 years 5 months | ||||
Yield | 12.20% | ||||
Constant Prepayment Rate | 10.80% | ||||
[1] | Relates mostly to certain impaired collateral dependent loans. The impairment was measured based on the fair value of the collateral, which is derived from appraisals that take into consideration prices in observed transactions involving similar assets in similar locations, in accordance with the provisions of ASC Section 310-10-35 . Costs to sell are excluded from the reported fair value amount . | ||||
[2] | Represents the fair value of foreclosed real estate and other collateral owned that were written down to their fair value . Costs to sell are excluded from the reported fair value amount. | ||||
[3] | Loans held-in-portfolio in which haircuts were not applied to external appraisals were excluded from this table. | ||||
[4] | Other real estate owned in which haircuts were not applied to external appraisals were excluded from this table. |
Note Fair value measurement - A
Note Fair value measurement - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Financial instruments measured at fair value on a recurring basis, transfers out of Level 3 | $ 0 | $ 0 | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3 | 0 | 0 | |
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount | 0 | 0 | |
Fair Value, Assets, Level 2 to Level 1 Transfers, Amount | $ 0 | 0 | |
Fair Value Inputs Discount Rate | 7.98% | 7.64% | |
Fair Value, Liabilities, Level 1 to Level 2 Transfers, Amount | $ 0 | 0 | |
Fair Value, Liabilities, Level 2 to Level 1 Transfers, Amount | 0 | 0 | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers out of Level 3 | 0 | 0 | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers Into Level 3 | $ 0 | $ 0 | |
Mortgage Servicing Rights | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Fair Value Measurements, Sensitivity Analysis, Description | The significant unobservable inputs used in the fair value measurement of the Corporation’s mortgage servicing rights are constant prepayment rates and discount rates. Increases in interest rates may result in lower prepayments. Discount rates vary according to products and / or portfolios depending on the perceived risk. Increases in discount rates result in a lower fair value measurement. | ||
Fair Value Measurements, Valuation Processes, Description | The Corporation’s Corporate Comptroller’s unit is responsible for determining the fair value of MSRs, which is based on discounted cash flow methods based on assumptions developed by an external service provider, except for prepayment speeds, which are adjusted internally for the local market based on historical experience. The Corporation’s Corporate Treasury unit validates the economic assumptions developed by the external service provider on a quarterly basis. In addition, an analytical review of prepayment speeds is performed quarterly by the Corporate Comptroller’s unit. The Corporation’s MSR Committee analyzes changes in fair value measurements of MSRs and approves the valuation assumptions at each reporting period. Changes in valuation assumptions must also be approved by the MSR Committee. The fair value of MSRs are compared with those of the external service provider on a quarterly basis in order to validate if the fair values are within the materiality thresholds established by management to monitor and investigate material deviations. Back-testing is performed to compare projected cash flows with actual historical data to ascertain the reasonability of the projected net cash flow results. | ||
Mortgage Backed Securities | Trading account securities | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Fair Value Measurements, Sensitivity Analysis, Description | The significant unobservable inputs used in the fair value measurement of the Corporation’s collateralized mortgage obligations and interest-only collateralized mortgage obligation (reported as “other”), which are classified in the “trading” category, are yield, constant prepayment rate, and weighted average life. Significant increases (decreases) in any of those inputs in isolation would result in significantly lower (higher) fair value measurement. Generally, a change in the assumption used for the constant prepayment rate will generate a directionally opposite change in the weighted average life. For example, as the average life is reduced by a higher constant prepayment rate, a lower yield will be realized, and when there is a reduction in the constant prepayment rate, the average life of these collateralized mortgage obligations will extend, thus resulting in a higher yield | ||
Fair Value Measurements, Valuation Processes, Description | These particular financial instruments are valued internally by the Corporation’s investment banking and broker-dealer unit utilizing internal valuation techniques. The unobservable inputs incorporated into the internal discounted cash flow models used to derive the fair value of collateralized mortgage obligations and interest-only collateralized mortgage obligation (reported as “other”), which are classified in the “trading” category, are reviewed by the Corporation’s Corporate Treasury unit on a quarterly basis. In the case of Level 3 financial instruments which fair value is based on broker quotes, the Corporation’s Corporate Treasury unit reviews the inputs used by the broker-dealers for reasonableness utilizing information available from other published sources and validates that the fair value measurements were developed in accordance with ASC Topic 820. The Corporate Treasury unit also substantiates the inputs used by validating the prices with other broker-dealers, whenever possible. |
Note Fair value of financial in
Note Fair value of financial instruments (Carrying or notional amounts and estimated fair values for financial instruments) (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | |||
Financial Assets: | |||||||
Cash And Due From Banks | $ 409,623 | $ 363,674 | |||||
Money market investments | 1,917,460 | 2,180,092 | |||||
Trading account securities, excluding derivatives | 71,284 | 71,659 | |||||
Available For Sale Securities | 6,649,830 | [1] | 6,062,992 | [2] | |||
Investment securities held-to-maturity, at amortized cost | 99,216 | [3] | 100,903 | [4] | |||
Held To Maturity Securities Fair Value | 80,914 | [3] | 82,889 | [4] | |||
Other investment securities | |||||||
FDIC loss-share asset | 219,448 | 310,221 | |||||
Mortgage servicing rights | 205,051 | 211,405 | $ 149,024 | $ 148,694 | |||
Derivatives | 15,012 | 16,959 | |||||
Deposits | |||||||
Time deposits | 7,877,763 | 8,165,368 | |||||
Total deposits | 27,526,593 | 27,209,723 | |||||
Federal funds purchased and assets sold under agreements to repurchase | 760,154 | 762,145 | |||||
Notes payable: | |||||||
Others | 18,779 | 19,008 | |||||
Notes Payable | 1,583,468 | 1,662,508 | |||||
Obligations of Puerto Rico, States and political subdivisions | |||||||
Financial Assets: | |||||||
Available For Sale Securities | 23,730 | 22,359 | |||||
Investment securities held-to-maturity, at amortized cost | 97,130 | 98,817 | |||||
Held To Maturity Securities Fair Value | 78,849 | 80,815 | |||||
Collateralized Mortgage Obligations - Federal agencies | |||||||
Financial Assets: | |||||||
Available For Sale Securities | 1,513,571 | 1,560,837 | |||||
Investment securities held-to-maturity, at amortized cost | 86 | 86 | |||||
Held To Maturity Securities Fair Value | 91 | 91 | |||||
Other | |||||||
Financial Assets: | |||||||
Available For Sale Securities | 10,094 | 10,233 | |||||
Investment securities held-to-maturity, at amortized cost | 2,000 | 2,000 | |||||
Held To Maturity Securities Fair Value | 1,974 | 1,983 | |||||
Level 1 | |||||||
Financial Assets: | |||||||
Cash And Cash Equivalents Fair Value Disclosure | 409,623 | 363,674 | |||||
Money Market Investments Fair Value | 1,808,513 | 2,083,839 | |||||
Trading account securities, excluding derivatives | [5] | 0 | 0 | ||||
Available For Sale Securities | [5] | 285 | 276 | ||||
Held To Maturity Securities Fair Value | 0 | 0 | |||||
Other investment securities | |||||||
FHLB Stock | 0 | 0 | |||||
FRB stock | 0 | 0 | |||||
Trust preferred securities | 0 | 0 | |||||
Other investments | 0 | 0 | |||||
Total other investment securities | 0 | 0 | |||||
Loans held-for-sale | 0 | 0 | |||||
F D I C Indemnification Asset Fair Value Portion | 0 | 0 | |||||
Mortgage servicing rights | 0 | 0 | |||||
Derivatives | 0 | 0 | |||||
Deposits | |||||||
Demand deposits | 0 | 0 | |||||
Time deposits | 0 | 0 | |||||
Deposits | 0 | 0 | |||||
Federal funds purchased and assets sold under agreements to repurchase | 0 | 0 | |||||
Other short-term borrowings | [6] | 0 | 0 | ||||
Notes payable: | |||||||
FHLB advances | 0 | 0 | |||||
Unsecured senior debt securities | 0 | 0 | |||||
Junior subordinated deferrable interest debentures | 0 | 0 | |||||
Others | 0 | 0 | |||||
Notes payable | 0 | 0 | |||||
Derivatives | 0 | 0 | |||||
Contingent consideration | 0 | 0 | |||||
Fair value Off balance sheet | |||||||
Commitments to extend credit | 0 | 0 | |||||
Letters of credit | 0 | 0 | |||||
Level 1 | Obligations of Puerto Rico, States and political subdivisions | |||||||
Financial Assets: | |||||||
Held To Maturity Securities Fair Value | 0 | 0 | |||||
Level 1 | Collateralized Mortgage Obligations - Federal agencies | |||||||
Financial Assets: | |||||||
Held To Maturity Securities Fair Value | 0 | 0 | |||||
Level 1 | Other | |||||||
Financial Assets: | |||||||
Held To Maturity Securities Fair Value | 0 | 0 | |||||
Level 2 | |||||||
Financial Assets: | |||||||
Cash And Cash Equivalents Fair Value Disclosure | 0 | 0 | |||||
Money Market Investments Fair Value | 108,947 | 96,253 | |||||
Trading account securities, excluding derivatives | [5] | 63,441 | 62,687 | ||||
Available For Sale Securities | [5] | 6,648,123 | 6,061,282 | ||||
Held To Maturity Securities Fair Value | 1,736 | 1,740 | |||||
Other investment securities | |||||||
FHLB Stock | 55,817 | 59,387 | |||||
FRB stock | 93,086 | 97,740 | |||||
Trust preferred securities | 13,198 | 13,198 | |||||
Other investments | 0 | 0 | |||||
Total other investment securities | 162,101 | 170,325 | |||||
Loans held-for-sale | 0 | 1,364 | |||||
F D I C Indemnification Asset Fair Value Portion | 0 | 0 | |||||
Mortgage servicing rights | 0 | 0 | |||||
Derivatives | 15,012 | 16,959 | |||||
Deposits | |||||||
Demand deposits | 19,648,830 | 19,044,355 | |||||
Time deposits | 7,855,406 | 8,134,029 | |||||
Deposits | 27,504,236 | 27,178,384 | |||||
Federal funds purchased and assets sold under agreements to repurchase | 762,053 | 764,599 | |||||
Other short-term borrowings | [6] | 6,370 | 1,200 | ||||
Notes payable: | |||||||
FHLB advances | 708,394 | 780,411 | |||||
Unsecured senior debt securities | 421,463 | 435,186 | |||||
Junior subordinated deferrable interest debentures | 351,345 | 352,673 | |||||
Others | 0 | 0 | |||||
Notes payable | 1,481,202 | 1,568,270 | |||||
Derivatives | 12,068 | 14,343 | |||||
Contingent consideration | 0 | 0 | |||||
Fair value Off balance sheet | |||||||
Commitments to extend credit | 0 | 0 | |||||
Letters of credit | 0 | 0 | |||||
Level 2 | Obligations of Puerto Rico, States and political subdivisions | |||||||
Financial Assets: | |||||||
Held To Maturity Securities Fair Value | 0 | 0 | |||||
Level 2 | Collateralized Mortgage Obligations - Federal agencies | |||||||
Financial Assets: | |||||||
Held To Maturity Securities Fair Value | 0 | 0 | |||||
Level 2 | Other | |||||||
Financial Assets: | |||||||
Held To Maturity Securities Fair Value | 1,736 | 1,740 | |||||
Level 3 | |||||||
Financial Assets: | |||||||
Cash And Cash Equivalents Fair Value Disclosure | 0 | 0 | |||||
Money Market Investments Fair Value | 0 | 0 | |||||
Trading account securities, excluding derivatives | [5] | 7,843 | 8,972 | ||||
Available For Sale Securities | [5] | 1,422 | 1,434 | ||||
Held To Maturity Securities Fair Value | 79,178 | 81,149 | |||||
Other investment securities | |||||||
FHLB Stock | 0 | 0 | |||||
FRB stock | 0 | 0 | |||||
Trust preferred securities | 0 | 0 | |||||
Other investments | 5,010 | 4,966 | |||||
Total other investment securities | 5,010 | 4,966 | |||||
Loans held-for-sale | 126,872 | 138,031 | |||||
F D I C Indemnification Asset Fair Value Portion | 235,943 | 313,224 | |||||
Mortgage servicing rights | 205,051 | 211,405 | |||||
Derivatives | 0 | 0 | |||||
Deposits | |||||||
Demand deposits | 0 | 0 | |||||
Time deposits | 0 | 0 | |||||
Deposits | 0 | 0 | |||||
Federal funds purchased and assets sold under agreements to repurchase | 0 | 0 | |||||
Other short-term borrowings | [6] | 0 | 0 | ||||
Notes payable: | |||||||
FHLB advances | 0 | 0 | |||||
Unsecured senior debt securities | 0 | 0 | |||||
Junior subordinated deferrable interest debentures | 0 | 0 | |||||
Others | 18,779 | 19,008 | |||||
Notes payable | 18,779 | 19,008 | |||||
Derivatives | 0 | 0 | |||||
Contingent consideration | 120,823 | 120,380 | |||||
Fair value Off balance sheet | |||||||
Commitments to extend credit | 518 | 1,080 | |||||
Letters of credit | 767 | 572 | |||||
Level 3 | Obligations of Puerto Rico, States and political subdivisions | |||||||
Financial Assets: | |||||||
Held To Maturity Securities Fair Value | 78,849 | 80,815 | |||||
Level 3 | Collateralized Mortgage Obligations - Federal agencies | |||||||
Financial Assets: | |||||||
Held To Maturity Securities Fair Value | 91 | 91 | |||||
Level 3 | Other | |||||||
Financial Assets: | |||||||
Held To Maturity Securities Fair Value | 238 | 243 | |||||
Non-covered loans | Level 1 | |||||||
Other investment securities | |||||||
Loans Receivable, Fair Value Disclosure | 0 | 0 | |||||
Non-covered loans | Level 2 | |||||||
Other investment securities | |||||||
Loans Receivable, Fair Value Disclosure | 0 | 0 | |||||
Non-covered loans | Level 3 | |||||||
Other investment securities | |||||||
Loans Receivable, Fair Value Disclosure | 20,633,219 | 20,849,150 | |||||
Covered loans | Level 1 | |||||||
Other investment securities | |||||||
Loans Receivable, Fair Value Disclosure | 0 | 0 | |||||
Covered loans | Level 2 | |||||||
Other investment securities | |||||||
Loans Receivable, Fair Value Disclosure | 0 | 0 | |||||
Covered loans | Level 3 | |||||||
Other investment securities | |||||||
Loans Receivable, Fair Value Disclosure | 553,280 | 593,002 | |||||
Carrying amount | |||||||
Financial Assets: | |||||||
Cash And Due From Banks | 409,623 | 363,674 | |||||
Money market investments | 1,917,460 | 2,180,092 | |||||
Trading account securities, excluding derivatives | [5] | 71,284 | 71,659 | ||||
Available For Sale Securities | [5] | 6,649,830 | 6,062,992 | ||||
Investment securities held-to-maturity, at amortized cost | 99,216 | 100,903 | |||||
Other investment securities | |||||||
FHLB Stock | 55,817 | 59,387 | |||||
FRB stock | 93,086 | 97,740 | |||||
Trust preferred securities fair value | 13,198 | 13,198 | |||||
Other investments | 1,923 | 1,923 | |||||
Total other investment securities | 164,024 | 172,248 | |||||
Loans held-for-sale | 125,315 | 137,000 | |||||
FDIC loss-share asset | 219,448 | 310,221 | |||||
Mortgage servicing rights | 205,051 | 211,405 | |||||
Derivatives | 15,012 | 16,959 | |||||
Deposits | |||||||
Demand deposits | 19,648,830 | 19,044,355 | |||||
Time deposits | 7,877,763 | 8,165,368 | |||||
Total deposits | 27,526,593 | 27,209,723 | |||||
Federal funds purchased and assets sold under agreements to repurchase | 760,154 | 762,145 | |||||
Other short-term borrowings | [6] | 6,370 | 1,200 | ||||
Notes payable: | |||||||
Advances with the FHLB | 682,161 | 761,501 | |||||
Senior Long Term Notes | 443,225 | 442,704 | |||||
Junior Subordinated Debenture Owed To Unconsolidated Subsidiary Trust | 439,303 | 439,295 | |||||
Others | 18,779 | 19,008 | |||||
Notes Payable | 1,583,468 | 1,662,508 | |||||
Derivatives | 12,068 | 14,343 | |||||
Contingent consideration | 120,823 | 120,380 | |||||
Carrying amount | Obligations of Puerto Rico, States and political subdivisions | |||||||
Financial Assets: | |||||||
Investment securities held-to-maturity, at amortized cost | 97,130 | 98,817 | |||||
Carrying amount | Collateralized Mortgage Obligations - Federal agencies | |||||||
Financial Assets: | |||||||
Investment securities held-to-maturity, at amortized cost | 86 | 86 | |||||
Carrying amount | Other | |||||||
Financial Assets: | |||||||
Investment securities held-to-maturity, at amortized cost | 2,000 | 2,000 | |||||
Carrying amount | Non-covered loans | |||||||
Other investment securities | |||||||
Loans held in portfolio, net | 21,999,310 | 21,843,180 | |||||
Carrying amount | Covered loans | |||||||
Other investment securities | |||||||
Loans held in portfolio, net | 595,085 | 611,939 | |||||
Fair value | |||||||
Financial Assets: | |||||||
Cash And Cash Equivalents Fair Value Disclosure | 409,623 | 363,674 | |||||
Money Market Investments Fair Value | 1,917,460 | 2,180,092 | |||||
Trading account securities, excluding derivatives | 71,284 | 71,659 | [5] | ||||
Available For Sale Securities | 6,649,830 | 6,062,992 | [5] | ||||
Held To Maturity Securities Fair Value | 80,914 | 82,889 | |||||
Other investment securities | |||||||
FHLB Stock | 55,817 | 59,387 | |||||
FRB stock | 93,086 | 97,740 | |||||
Trust preferred securities | 13,198 | 13,198 | |||||
Other investments | 5,010 | 4,966 | |||||
Total other investment securities | 167,111 | 175,291 | |||||
Loans held-for-sale | 126,872 | 139,395 | |||||
F D I C Indemnification Asset Fair Value Portion | 235,943 | 313,224 | |||||
Mortgage servicing rights | 205,051 | 211,405 | |||||
Derivatives | 15,012 | 16,959 | |||||
Deposits | |||||||
Demand deposits | 19,648,830 | 19,044,355 | |||||
Time deposits | 7,855,406 | 8,134,029 | |||||
Deposits | 27,504,236 | 27,178,384 | |||||
Federal funds purchased and assets sold under agreements to repurchase | 762,053 | 764,599 | |||||
Other short-term borrowings | 6,370 | 1,200 | [6] | ||||
Notes payable: | |||||||
FHLB advances | 708,394 | 780,411 | |||||
Unsecured senior debt securities | 421,463 | 435,186 | |||||
Junior subordinated deferrable interest debentures | 351,345 | 352,673 | |||||
Others | 18,779 | 19,008 | |||||
Notes payable | 1,499,981 | 1,587,278 | |||||
Derivatives | 12,068 | 14,343 | |||||
Contingent consideration | 120,823 | 120,380 | |||||
Fair value Off balance sheet | |||||||
Commitments to extend credit | 518 | 1,080 | |||||
Letters of credit | 767 | 572 | |||||
Fair value | Obligations of Puerto Rico, States and political subdivisions | |||||||
Financial Assets: | |||||||
Held To Maturity Securities Fair Value | 78,849 | 80,815 | |||||
Fair value | Collateralized Mortgage Obligations - Federal agencies | |||||||
Financial Assets: | |||||||
Held To Maturity Securities Fair Value | 91 | 91 | |||||
Fair value | Other | |||||||
Financial Assets: | |||||||
Held To Maturity Securities Fair Value | 1,974 | 1,983 | |||||
Fair value | Non-covered loans | |||||||
Other investment securities | |||||||
Loans Receivable, Fair Value Disclosure | 20,633,219 | 20,849,150 | |||||
Fair value | Covered loans | |||||||
Other investment securities | |||||||
Loans Receivable, Fair Value Disclosure | 553,280 | 593,002 | |||||
Notional amount | |||||||
Fair value Off balance sheet | |||||||
Commitments to extend credit | 7,532,634 | 7,434,108 | |||||
Letters of credit | $ 37,812 | $ 51,710 | |||||
[1] | Includes $2.2 billion pledged to secure public and trust deposits, assets sold under agreements to repurchase, credit facilities and loan servicing agreements that the secured parties are not permitted to sell or repledge the collateral, of which $1.3 billion serve as collateral for public funds. | ||||||
[2] | Includes $2.4 billion pledged to secure public and trust deposits, assets sold under agreements to repurchase, credit facilities and loan servicing agreements that the secured parties are not permitted to sell or repledge the collateral, of which $1.5 billion serve as collateral for public funds. | ||||||
[3] | Includes $97.5 million pledged to secure public and trust deposits that the secured parties are not permitted to sell or repledge the collateral. | ||||||
[4] | Includes $57.2 million pledged to secure public and trust deposits that the secured parties are not permitted to sell or repledge the collateral. | ||||||
[5] | Refer to Note 29 to the consolidated financial statements for the fair value by class of financial asset and its hierarchy level. | ||||||
[6] | Refer to Note 20 to the consolidated financial statements for the composition of short-term borrowings. |
Note Net income per common shar
Note Net income per common share (Computation of net income (loss) per common share ("EPS"), basic and diluted) (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items] | ||
Preferred stock dividends | $ (931) | $ (930) |
Net income (loss) applicable to common stock | $ 84,068 | $ 73,896 |
Average common shares outstanding | 103,188,815 | 102,939,928 |
Average potential dilutive common shares | 80,998 | 196,381 |
Average common shares outstanding - assuming dilution | 103,269,813 | 103,136,309 |
Net Income per Common Share - Basic | $ 0.81 | $ 0.72 |
Net Income per Common Share - Diluted | $ 0.81 | $ 0.72 |
Continuing Operations | ||
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items] | ||
Income (loss) from continuing operations | $ 84,999 | $ 73,485 |
Net income from continuing operations - Basic | $ 0.81 | $ 0.71 |
Net income from continuing operations - Diluted | $ 0.81 | $ 0.71 |
Discontinued Operations | ||
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items] | ||
Income Loss From Discontinued Operations Net Of Tax | $ 0 | $ 1,341 |
Net income from discontinued operations - Basic | $ 0 | $ 0.01 |
Net income from discontinued operations - Diluted | $ 0 | $ 0.01 |
Note Net income (loss) per comm
Note Net income (loss) per common share - Additional Information (Detail) - shares | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Employee Stock Option | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 0 |
Note Other services fees (Detai
Note Other services fees (Detail) - Continuing Operations - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Component of Operating Other Cost and Expense [Line Items] | ||
Debit card fees | $ 11,287 | $ 11,125 |
Insurance fees | 12,850 | 12,041 |
Credit card fees and discounts | 16,858 | 16,149 |
Sale and administration of investment products | 4,839 | 5,930 |
Trust fees | 4,235 | 4,602 |
Other fees | 3,313 | 3,779 |
Total other services fees | $ 53,382 | $ 53,626 |
Note FDIC loss share (expense)
Note FDIC loss share (expense) income (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
F D I C Loss Share Expense Income [Line Items] | ||
(Amortization) accretion of indemnification asset | $ (4,042) | $ (27,316) |
80% mirror accounting on credit impairment losses | (2,093) | 8,246 |
80% mirror accounting on reimbursable expenses | 3,950 | 21,545 |
80% mirror accounting on recoveries on covered assets, including rental income on OREOs, subject to reimbursement to the FDIC | (645) | (2,619) |
Change in true-up payment obligation | (443) | 4,164 |
Other | 127 | 119 |
Continuing Operations | ||
F D I C Loss Share Expense Income [Line Items] | ||
FDIC loss share (expense) income | $ (3,146) | $ 4,139 |
Note FDIC loss share (expens190
Note FDIC loss share (expense) income (Parenthetical) (Detail) | 3 Months Ended |
Mar. 31, 2016 | |
FDIC | |
F D I C Loss Share Expense Income [Line Items] | |
Loss Sharing Agreement Allocation Percentage | 80.00% |
Note FDIC loss share (expens191
Note FDIC loss share (expense) income - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
F D I C Loss Share Expense Income [Line Items] | ||
F D I C Indemnification Asset Accretion Of Discount | $ 4,042 | $ 27,316 |
FDIC | ||
F D I C Loss Share Expense Income [Line Items] | ||
Limited Period For The F D I C Loss Sharing Agreements Covered For Interest Not Collected | approximately 90 days |
Note Pension and postretirement
Note Pension and postretirement benefits (Components of net periodic pension cost) (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Interest cost | $ 6,291 | $ 7,403 |
Expected return on plan assets | (9,623) | (11,056) |
Amortization of net loss (gain) | 4,880 | 4,465 |
Total net periodic pension cost | 1,548 | 812 |
Other Pension Plans Defined Benefit Member | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Interest cost | 348 | 407 |
Expected return on plan assets | (538) | (589) |
Amortization of net loss (gain) | 331 | 311 |
Total net periodic pension cost | $ 141 | $ 129 |
Note Pension and postretirem193
Note Pension and postretirement benefits (Components of net periodic postretirement benefit cost) (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Pension and Other Postretirement Benefits Disclosure [Line Items] | ||
Amortization of prior service cost | $ (950) | $ (950) |
Other Postretirement Benefit Plans Defined Benefit [Member] | ||
Pension and Other Postretirement Benefits Disclosure [Line Items] | ||
Service cost | 289 | 368 |
Interest cost | 1,505 | 1,589 |
Amortization of prior service cost | (950) | (950) |
Amortization of net loss (gain) | 275 | 249 |
Total net periodic pension cost | $ 1,119 | $ 1,256 |
Note Pension and postretirem194
Note Pension and postretirement benefits - Additional information (Detail) $ in Thousands | 3 Months Ended |
Mar. 31, 2016USD ($) | |
Other Pension Plans Defined Benefit Member | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
Defined Benefit Plans Estimated Future Employer Contributions In Current Fiscal Year | $ 173 |
Defined Benefit Plan Contributions By Employer | 43 |
Other Postretirement Benefit Plans Defined Benefit [Member] | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
Defined Benefit Plans Estimated Future Employer Contributions In Current Fiscal Year | 6,400 |
Defined Benefit Plan Contributions By Employer | $ 1,600 |
Note Stock-based compensation (
Note Stock-based compensation (Summary of restricted stock activity under the incentive plan for members of management) (Detail) - Restricted Stock Units (RSUs) - Executive Officers - $ / shares | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Roll Forward | |||
Granted | 161,500 | 0 | |
Performance Based Shares | |||
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Roll Forward | |||
Beginning Balance | 495,731 | 628,009 | 628,009 |
Granted | 226,098 | 323,814 | |
Quantity adjusted by TSR factor | (8,914) | ||
Vested | (256,501) | (430,646) | |
Forfeited | (25,446) | ||
Ending Balance | 456,414 | 495,731 | |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Additional Disclosures Abstract | |||
Non-vested at beginning of period | $ 28.25 | $ 27.13 | $ 27.13 |
Granted | 24.05 | 33.37 | |
Quantity adjusted by TSR factor | 28.47 | ||
Vested | 25.9 | 30.45 | |
Forfeited | 28.65 | ||
Non-vested at end of period | $ 27.12 | $ 28.25 |
Note Stock-based compensatio196
Note Stock-based compensation (Summary of restricted stock activity under the incentive plan for members of the Board of Directors) (Detail) - Restricted Stock Units (RSUs) - Directors - $ / shares | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Roll Forward | |||
Beginning Balance | 0 | 0 | 0 |
Granted | 2,338 | 2,643 | 22,119 |
Vested | (2,338) | (22,119) | |
Forfeited | 0 | 0 | |
Ending Balance | 0 | 0 | |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Additional Disclosures Abstract | |||
Non-vested at beginning of period | $ 0 | $ 0 | $ 0 |
Granted | 23.95 | 32.29 | |
Vested | 23.95 | 32.29 | |
Forfeited | 0 | 0 | |
Non-vested at end of period | $ 0 | $ 0 |
Note Stock-based compensation -
Note Stock-based compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized | $ 8,200 | ||
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition | 2 years 3 months | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 0 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights | all options granted are 20% exercisable after the first year and an additional 20% is exercisable after each subsequent year, subject to an acceleration clause at termination of employment due to retirement. | ||
Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options | $ (31) | $ 69 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period | 44,797 | ||
Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price | $ 272 | ||
Minimum | |||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Range Based On Shareholder Return | 50.00% | ||
Maximum | |||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Range Based On Shareholder Return | 150.00% | ||
Restricted Stock Units (RSUs) | |||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights | the compensation cost associated with the shares of restricted stock is determined based on a two-prong vesting schedule. The first part is vested ratably over five years commencing at the date of grant and the second part is vested at termination of employment after attainment of 55 years of age and 10 years of service. The five-year vesting part is accelerated at termination of employment after attaining 55 years of age and 10 years of service. The vesting schedule for restricted shares granted on or after 2014 was modified as follows, the first part ratably over four years commencing at the date of the grant and the second part is vested at termination of employment after attainment of the earlier of 55 years of age and 10 years of service or 60 years of age and 5 years of service. The four year vesting part is accelerated at termination of employment after attaining the earlier of 55 years of age and 10 years of service or 60 years of age and 5 years of service. The restricted shares granted consistent with the requirements of the TARP Interim Final Rule vest in two years from grant date. | ||
Restricted Stock Units (RSUs) | Executive Officers | |||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period | 161,500 | 0 | |
Restricted Stock Expense | $ 3,700 | $ 2,000 | |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense | 500 | $ 300 | |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value | 3,300 | ||
Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options | 31 | ||
Nonrecognized Windfall | 79 | ||
Windfall Net Of Shortfall | 100 | ||
Restricted Stock Units (RSUs) | Executive Officers | Share Vesting On Grant Date | |||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value | $ 3,600 | ||
Restricted Stock Units (RSUs) | Directors | |||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period | 2,338 | 2,643 | 22,119 |
Restricted Stock Expense | $ 100 | $ 100 | |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense | 15 | $ 16 | |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value | $ 56 | ||
Performance Based Shares | TARP Interim Final Rule | |||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period | 0 | 0 | |
Performance Based Shares | Executive Officers | |||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period | 64,598 | ||
Restricted Stock Expense | $ 1,000 | ||
Employee Service Share Based Compensation Tax Benefit From Compensation Expense | $ 100 |
Note Income taxes (Differences
Note Income taxes (Differences between income tax expense (benefit) applicable to income before income taxes and amount computed by applying the statutory tax rate in Puerto Rico) (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Amount | ||
State and local taxes | $ 2,927 | $ 1,331 |
% of pre-tax income | ||
State and local taxes | 3.00% | 1.00% |
PUERTO RICO | ||
Amount | ||
Computed income tax at statutory rates | $ 45,733 | $ 41,361 |
Net benefit of net tax exempt interest income | (15,584) | (15,027) |
Deferred tax asset valuation allowance | 5,273 | 5,639 |
Difference in tax rates due to multiple jurisdictions | (864) | (275) |
Other | (1,806) | 2,010 |
Income tax expense | $ 32,265 | $ 32,568 |
% of pre-tax income | ||
Computed income tax at statutory rates | 39.00% | 39.00% |
Net benefit of net tax exempt interest income | (13.00%) | (14.00%) |
Deferred tax asset valuation allowance | 5.00% | 5.00% |
Difference in tax rates due to multiple jurisdictions | (1.00%) | 0.00% |
Income tax (benefit) expense | 28.00% | 31.00% |
PUERTO RICO | Effect Of Income Subject To Preferential Tax Rate | ||
Amount | ||
Income tax reconciliation, other deductions | $ (3,414) | $ (2,471) |
% of pre-tax income | ||
Effective Income Tax Rate Reconciliation Deductions Other | (3.00%) | (2.00%) |
PUERTO RICO | Others | ||
% of pre-tax income | ||
Effective Income Tax Rate Reconciliation Deductions Other | (2.00%) | 2.00% |
Note Income taxes (Components o
Note Income taxes (Components of deferred tax assets and liabilities) (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Deferred tax assets: | ||
Tax credits available for carryforward | $ 13,651 | $ 13,651 |
Net operating loss and other carryforward available | 1,264,077 | 1,262,197 |
Postretirement and pension benefits | 114,866 | 116,036 |
Allowance for loan losses | 658,220 | 670,592 |
Accelerated depreciation | 8,209 | 8,335 |
Difference in outside basis from pass-through entities | 11,889 | 12,684 |
Other temporary differences | 30,348 | 29,208 |
Total gross deferred tax assets | 2,115,503 | 2,127,832 |
Deferred tax liabilities: | ||
FDIC-assisted transaction | 92,156 | 90,778 |
Indefinite-lived intangibles | 66,175 | 63,573 |
Unrealized net gain on trading and available-for-sale securities | 37,662 | 22,281 |
Other temporary differences | 7,232 | 6,670 |
Total gross deferred tax liabilities | 203,225 | 183,302 |
Valuation allowance | 637,911 | 642,727 |
Net deferred tax asset | 1,274,367 | 1,301,803 |
Deferred loans origination fees | ||
Deferred tax assets: | ||
Deferred income | 6,063 | 6,420 |
Deferred gain | ||
Deferred tax assets: | ||
Deferred income | 5,688 | 5,966 |
Intercompany deferred gains | ||
Deferred tax assets: | ||
Deferred income | $ 2,492 | $ 2,743 |
Note Income taxes (Reconciliati
Note Income taxes (Reconciliation of unrecognized tax benefits) (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Income Tax Disclosure | ||
Beginning Balance | $ 9 | $ 8 |
Addition for tax positions | 0.4 | 0.3 |
Reduction as a result of settlements | 0 | (0.5) |
Ending Balance | $ 9.4 | $ 7.8 |
Note Income taxes - Additional
Note Income taxes - Additional Information (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Income Taxes | ||
Deferred Tax Assets Net | $ 1,275,017 | $ 1,302,452 |
Unrecognized Tax Benefits Interest On Income Taxes Accrued | 3,700 | 3,200 |
Unrecognized Tax Benefits That Would Impact Effective Tax Rate | 12,000 | 11,200 |
Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit | 3,300 | |
Unrecognized Tax Benefits Current Interest On Income Taxes Accrued | 485 | 57 |
Deferred Tax Liabilities | 203,225 | 183,302 |
Deferred Tax Assets Valuation Allowance | 637,911 | 642,727 |
Other liabilities | ||
Income Taxes | ||
Deferred Tax Liabilities | 649 | 649 |
PUERTO RICO | ||
Income Taxes | ||
Deferred Tax Assets Net | 730,000 | |
UNITED STATES | ||
Income Taxes | ||
Deferred Tax Assets Net | $ 1,200,000 | |
Deferred Tax Assets Valuation Allowance | 602,000 | |
Popular, Inc. Holding Co. | PUERTO RICO | ||
Income Taxes | ||
Deferred Tax Assets Valuation Allowance | $ 36,000 |
Note Supplemental disclosure on
Note Supplemental disclosure on the consolidated statments of cash flows (Additional disclosures on cash flow information and non-cash activities) (Detail) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | ||
Cash Flow Noncash Investing And Financing Activities Disclosure Abstract | ||||
Transfers Of Loans To Other Real Estate Owned | $ 26,919 | $ 30,802 | ||
Transfers Of Loans To Other Property | 7,693 | 8,979 | ||
Total loans transferred to foreclosed assets | 34,612 | 39,781 | ||
Transfer Of Portfolio Loans And Leases To Held For Sale 1 | 0 | 10,839 | ||
Transfer Of Loans Held For Sale To Portfolio Loans 1 | 3,821 | 4,858 | ||
Noncash Transfer To Securities From Loans Resulting From Securitization | [1] | 170,248 | 203,414 | |
Trades receivables from brokers and counterparties | 87,590 | 112,287 | $ 78,759 | |
Trades Payables To Brokers And Counterparties | 32,774 | 19,097 | ||
Recognition of mortgage servicing rights on securitizations or asset transfers | $ 2,136 | $ 2,859 | ||
[1] | Includes loans securitized into trading securities and subsequently sold before quarter end. |
Note Supplemental disclosure203
Note Supplemental disclosure on the consolidated statements of cash flows (Additional Information) (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Disclosure - Additional Disclosures on Cash Flow Information and Non-Cash Activities [Abstract] | ||
Cash Acquired From Acquisition | $ 0 | $ 711,051 |
Note Segment reporting (Results
Note Segment reporting (Results of Operations) (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Segment Reporting Information [Line Items] | |||
Provision for loan losses | $ (44,835) | $ (40,035) | |
Amortization of intangibles | 3,114 | 2,104 | |
Depreciation expense | 11,707 | 11,919 | |
Assets | 36,147,009 | $ 35,761,733 | |
Continuing Operations | |||
Segment Reporting Information [Line Items] | |||
Net Interest income (expense) | 352,412 | 343,195 | |
Provision for loan losses | 44,835 | 40,035 | |
Non interest Income | 111,630 | 115,235 | |
Amortization of intangibles | 3,114 | 2,104 | |
Depreciation expense | 11,707 | 11,919 | |
Noninterest Expense Other | 287,122 | 298,319 | |
Income tax expense | 32,265 | 32,568 | |
Income (loss) from continuing operations | 84,999 | 73,485 | |
Assets | 36,147,009 | 35,615,447 | |
Continuing Operations | Intersegment Elimination | |||
Segment Reporting Information [Line Items] | |||
Net Interest income (expense) | 0 | 0 | |
Provision for loan losses | 0 | 0 | |
Non interest Income | 0 | 0 | |
Amortization of intangibles | 0 | 0 | |
Depreciation expense | 0 | 0 | |
Noninterest Expense Other | 0 | 0 | |
Income tax expense | 0 | 0 | |
Income (loss) from continuing operations | 0 | 0 | |
Assets | (52,740) | (128,481) | |
Continuing Operations | Reportable Segment | |||
Segment Reporting Information [Line Items] | |||
Net Interest income (expense) | 367,607 | 358,712 | |
Provision for loan losses | 44,869 | 40,035 | |
Non interest Income | 103,516 | 109,696 | |
Amortization of intangibles | 3,114 | 2,104 | |
Depreciation expense | 11,530 | 11,725 | |
Noninterest Expense Other | 266,000 | 282,061 | |
Income tax expense | 40,333 | 38,385 | |
Income (loss) from continuing operations | 105,277 | 94,098 | |
Assets | 35,936,319 | 35,392,798 | |
Continuing Operations | Corporate | |||
Segment Reporting Information [Line Items] | |||
Net Interest income (expense) | (15,195) | (15,517) | |
Provision for loan losses | (34) | 0 | |
Non interest Income | 8,177 | 5,643 | |
Amortization of intangibles | 0 | 0 | |
Depreciation expense | 177 | 194 | |
Noninterest Expense Other | 21,731 | 16,990 | |
Income tax expense | (8,281) | (6,062) | |
Income (loss) from continuing operations | (20,611) | (20,996) | |
Assets | 4,938,750 | 4,896,192 | |
Continuing Operations | Eliminations | |||
Segment Reporting Information [Line Items] | |||
Net Interest income (expense) | 0 | 0 | |
Provision for loan losses | 0 | 0 | |
Non interest Income | (63) | (104) | |
Amortization of intangibles | 0 | 0 | |
Depreciation expense | 0 | 0 | |
Noninterest Expense Other | (609) | (732) | |
Income tax expense | 213 | 245 | |
Income (loss) from continuing operations | 333 | 383 | |
Assets | (4,728,060) | (4,673,543) | |
Banco Popular de Puerto Rico | Continuing Operations | Reportable Segment | |||
Segment Reporting Information [Line Items] | |||
Net Interest income (expense) | 305,350 | 306,611 | |
Provision for loan losses | 40,800 | 42,237 | |
Non interest Income | 98,566 | 103,529 | |
Amortization of intangibles | 2,948 | 1,998 | |
Depreciation expense | 10,197 | 10,108 | |
Noninterest Expense Other | 224,669 | 227,576 | |
Income tax expense | 31,877 | 37,448 | |
Income (loss) from continuing operations | 93,425 | 90,773 | |
Assets | 28,108,702 | 28,803,521 | |
Banco Popular de Puerto Rico | Commercial Banking | Continuing Operations | Reportable Segment | |||
Segment Reporting Information [Line Items] | |||
Net Interest income (expense) | 114,903 | 118,475 | |
Provision for loan losses | 14,908 | (3,556) | |
Non interest Income | 21,731 | 27,150 | |
Amortization of intangibles | 22 | 29 | |
Depreciation expense | 4,275 | 4,320 | |
Noninterest Expense Other | 57,232 | 65,856 | |
Income tax expense | 18,169 | 26,053 | |
Income (loss) from continuing operations | 42,028 | 52,923 | |
Assets | 11,273,486 | 10,056,505 | |
Banco Popular de Puerto Rico | Consumer and Retail Banking | Continuing Operations | Reportable Segment | |||
Segment Reporting Information [Line Items] | |||
Net Interest income (expense) | 187,195 | 186,252 | |
Provision for loan losses | 25,892 | 45,793 | |
Non interest Income | 55,608 | 56,004 | |
Amortization of intangibles | 1,836 | 1,772 | |
Depreciation expense | 5,691 | 5,512 | |
Noninterest Expense Other | 150,212 | 145,068 | |
Income tax expense | 12,379 | 9,778 | |
Income (loss) from continuing operations | 46,793 | 34,333 | |
Assets | 17,090,030 | 20,053,145 | |
Banco Popular de Puerto Rico | Other Financial Services | Continuing Operations | Reportable Segment | |||
Segment Reporting Information [Line Items] | |||
Net Interest income (expense) | 1,615 | 1,880 | |
Provision for loan losses | 0 | 0 | |
Non interest Income | 21,311 | 20,470 | |
Amortization of intangibles | 1,090 | 197 | |
Depreciation expense | 231 | 276 | |
Noninterest Expense Other | 17,309 | 16,747 | |
Income tax expense | 1,329 | 1,617 | |
Income (loss) from continuing operations | 2,967 | 3,513 | |
Assets | 342,867 | 486,998 | |
Banco Popular de Puerto Rico | Eliminations | Continuing Operations | Reportable Segment | |||
Segment Reporting Information [Line Items] | |||
Net Interest income (expense) | 1,637 | 4 | |
Provision for loan losses | 0 | 0 | |
Non interest Income | (84) | (95) | |
Amortization of intangibles | 0 | 0 | |
Depreciation expense | 0 | 0 | |
Noninterest Expense Other | (84) | (95) | |
Income tax expense | 0 | 0 | |
Income (loss) from continuing operations | 1,637 | 4 | |
Assets | (597,681) | (1,793,127) | |
Banco Popular North America | Continuing Operations | Reportable Segment | |||
Segment Reporting Information [Line Items] | |||
Net Interest income (expense) | 62,257 | 52,101 | |
Provision for loan losses | 4,069 | (2,202) | |
Non interest Income | 4,950 | 6,167 | |
Amortization of intangibles | 166 | 106 | |
Depreciation expense | 1,333 | 1,617 | |
Noninterest Expense Other | 41,331 | 54,484 | |
Income tax expense | 8,456 | 937 | |
Income (loss) from continuing operations | 11,852 | 3,326 | |
Assets | $ 7,880,357 | $ 6,717,758 |
Note Segment reporting (Geograp
Note Segment reporting (Geographic information) (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | ||
Segment Reporting Information [Line Items] | |||
Net Revenue | [1] | $ 464,042 | $ 458,430 |
PUERTO RICO | |||
Segment Reporting Information [Line Items] | |||
Net Revenue | [1] | 380,036 | 385,054 |
UNITED STATES | |||
Segment Reporting Information [Line Items] | |||
Net Revenue | [1] | 64,640 | 56,710 |
Other | |||
Segment Reporting Information [Line Items] | |||
Net Revenue | [1] | $ 19,366 | $ 16,666 |
[1] | Total revenues include net interest income (expense) , service charges on deposit accounts, other service fees, mortgage banking activities, net gain (loss) and valuation adjustments on investment securities, trading account (loss) profit, net (loss) gain on sale of loans and valuation adjustments on loans held-for-sale, adjustments to indemnity reserves on loans sold, FDIC loss share ( expense ) income and other operating income . |
Note Segment reporting (Selecte
Note Segment reporting (Selected Balance Sheet information) (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | |
Segment Reporting Information [Line Items] | |||
Total assets | $ 36,147,009 | $ 35,761,733 | |
Deposits | 27,526,593 | 27,209,723 | |
PUERTO RICO | |||
Segment Reporting Information [Line Items] | |||
Total assets | 27,150,601 | 26,764,184 | |
Loans | 17,370,172 | 17,477,070 | |
Deposits | 21,015,800 | 20,893,232 | |
UNITED STATES | |||
Segment Reporting Information [Line Items] | |||
Total assets | 8,063,912 | 7,859,217 | |
Loans | 5,121,648 | 4,873,504 | |
Deposits | 5,445,760 | 5,288,886 | |
Other | |||
Segment Reporting Information [Line Items] | |||
Total assets | 932,496 | 1,138,332 | |
Loans | 766,362 | 778,656 | |
Deposits | [1] | $ 1,065,033 | $ 1,027,605 |
[1] | Represents deposits from BPPR operations located in the US and British Virgin Islands. |
Note Segment Reporting - Additi
Note Segment Reporting - Additional Information (Detail) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Sep. 30, 2015USD ($) | |
Segment Reporting Information [Line Items] | |||
Number Of Operating Segments | 2 | ||
Factors Used To Identify Entitys Reportable Segments | Management determined the reportable segments based on the internal reporting used to evaluate performance and to assess where to allocate resources. The segments were determined based on the organizational structure, which focuses primarily on the markets the segments serve, as well as on the products and services offered by the segments. | ||
Description Of Types Of Products And Services From Which Each Reportable Segment Derives Its Revenues | Banco Popular de Puerto Rico: Given that Banco Popular de Puerto Rico constitutes a significant portion of the Corporation’s results of operations and total assets at March 31, 2016, additional disclosures are provided for the business areas included in this reportable segment, as described below: Commercial banking represents the Corporation’s banking operations conducted at BPPR, which are targeted mainly to corporate, small and middle size businesses. It includes aspects of the lending and depository businesses, as well as other finance and advisory services. BPPR allocates funds across business areas based on duration matched transfer pricing at market rates. This area also incorporates income related with the investment of excess funds, as well as a proportionate share of the investment function of BPPR. Consumer and retail banking represents the branch banking operations of BPPR which focus on retail clients. It includes the consumer lending business operations of BPPR, as well as the lending operations of Popular Auto and Popular Mortgage. Popular Auto focuses on auto and lease financing, while Popular Mortgage focuses principally on residential mortgage loan originations. The consumer and retail banking area also incorporates income related with the investment of excess funds from the branch network, as well as a proportionate share of the investment function of BPPR. Other financial services include the trust and asset management service units of BPPR, the brokerage and investment banking operations of Popular Securities, and the insurance agency and reinsurance businesses of Popular Insurance, Popular Insurance V.I., Popular Risk Services, and Popular Life Re. Most of the services that are provided by these subsidiaries generate profits based on fee income. Banco Popular North America: Banco Popular North America’s reportable segment consists of the banking operations of BPNA, E-LOAN, Popular Equipment Finance, Inc. and Popular Insurance Agency, U.S.A. BPNA operates through a retail branch network in the U.S. mainland under the name of Popular Community Bank, while E-LOAN supports BPNA’s deposit gathering through its online platform. All direct lending activities at E-LOAN were ceased during 2008. During the third quarter of 2015, BPNA and E-LOAN completed an asset purchase and sale transaction in which E-LOAN sold to BPNA all of its outstanding loan portfolio, including residential mortgage loans and home equity lines of credit, which had a carrying value of approximately $213 million. Prior to this transaction, the Corporation provided additional disclosures for the BPNA reportable segment related to E-LOAN. After the close of the above mentioned asset purchase and sale transaction, additional disclosures with respect to E-LOAN are no longer considered relevant to the financial statements and accordingly are not presented. Popular Equipment Finance, Inc. also holds a running-off loan portfolio as this subsidiary ceased originating loans during 2009. Popular Insurance Agency, U.S.A. offers investment and insurance services across the BPNA branch network. | ||
Loans held-in-portfolio | $ 22,618,488 | $ 22,453,813 | |
Banco Popular North America | Intercompany purchase of Eloan outstanding loans portfolio | |||
Segment Reporting Information [Line Items] | |||
Loans held-in-portfolio | $ 213,000 |
Condensed Consolidating Stateme
Condensed Consolidating Statement of Condition (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | ||
Assets | ||||||
Cash And Due From Banks | $ 409,623 | $ 363,674 | ||||
Money market investments | 1,917,460 | 2,180,092 | ||||
Trading account securities, at fair value | 71,284 | 71,659 | ||||
Investment securities available-for-sale, at fair value | 6,649,830 | [1] | 6,062,992 | [2] | ||
Investment securities held-to-maturity, at amortized cost | 99,216 | [3] | 100,903 | [4] | ||
Other investment securities, at lower of cost or realizable value | 164,024 | 172,248 | ||||
Investment in subsidiaries | 0 | 0 | ||||
Loans held-for-sale, at lower of cost or fair value | 125,315 | 137,000 | ||||
Loans held-in-portfolio: | ||||||
Loans not covered under loss-sharing agreements with the FDIC | 22,618,488 | 22,453,813 | ||||
Loans covered under loss-sharing agreements with the FDIC | 625,130 | 646,115 | ||||
Less - Unearned income | 110,751 | 107,698 | ||||
Allowance for loan losses | 538,472 | 537,111 | ||||
Total loans held-in-portfolio, net | 22,594,395 | 22,455,119 | ||||
FDIC loss-share asset | 219,448 | 310,221 | ||||
Premises and equipment, net | 527,493 | 502,611 | ||||
Accrued income receivable | 120,308 | 124,234 | ||||
Mortgage servicing assets, at fair value | 205,051 | 211,405 | $ 149,024 | $ 148,694 | ||
Other assets | 2,156,030 | 2,193,162 | ||||
Goodwill | 631,095 | 626,388 | 508,310 | 465,676 | ||
Other intangible assets | 54,080 | 58,109 | ||||
Total assets | 36,147,009 | 35,761,733 | ||||
Deposits: | ||||||
Non-interest bearing | 6,384,093 | 6,401,515 | ||||
Interest bearing | 21,142,500 | 20,808,208 | ||||
Total deposits | 27,526,593 | 27,209,723 | ||||
Federal funds purchased and assets sold under agreements to repurchase | 760,154 | 762,145 | ||||
Other short-term borrowings | 6,370 | 1,200 | ||||
Notes payable | 1,583,468 | 1,662,508 | ||||
Other liabilities | 1,018,309 | 1,019,018 | ||||
Liabilities from discontinued operations | 1,815 | 1,815 | ||||
Total liabilities | 30,896,709 | 30,656,409 | ||||
Stockholders' equity: | ||||||
Preferred stock | 50,160 | 50,160 | ||||
Common stock | 1,039 | 1,038 | ||||
Surplus | 4,231,233 | 4,229,156 | ||||
Retained Earnings (Accumulated Deficit) | 1,156,476 | 1,087,957 | ||||
Treasury stock | (6,858) | (6,101) | ||||
Accumulated other comprehensive (loss) income, net of tax | (181,750) | (256,886) | (194,400) | |||
Total stockholders' equity | 5,250,300 | 5,105,324 | $ 4,377,120 | $ 4,267,382 | ||
Total liabilities and stockholders' equity | 36,147,009 | 35,761,733 | ||||
Non Covered Under Loss Sharing Agreements with FDIC | ||||||
Loans held-in-portfolio: | ||||||
Other real estate owned | 165,960 | 155,231 | ||||
Covered Under Loss Sharing Agreements With FDIC Member | ||||||
Loans held-in-portfolio: | ||||||
Loans covered under loss-sharing agreements with the FDIC | 625,130 | 646,115 | ||||
Other real estate owned | 36,397 | 36,685 | ||||
Popular, Inc. Holding Co. | ||||||
Assets | ||||||
Cash And Due From Banks | 21,133 | 24,298 | ||||
Money market investments | 255,251 | 262,204 | ||||
Trading account securities, at fair value | 2,121 | 2,020 | ||||
Investment securities available-for-sale, at fair value | 227 | 216 | ||||
Investment securities held-to-maturity, at amortized cost | 0 | 0 | ||||
Other investment securities, at lower of cost or realizable value | 9,850 | 9,850 | ||||
Investment in subsidiaries | 5,679,385 | 5,539,325 | ||||
Loans held-for-sale, at lower of cost or fair value | 0 | 0 | ||||
Loans held-in-portfolio: | ||||||
Loans not covered under loss-sharing agreements with the FDIC | 1,167 | 1,176 | ||||
Loans covered under loss-sharing agreements with the FDIC | 0 | 0 | ||||
Less - Unearned income | 0 | 0 | ||||
Allowance for loan losses | 2 | 3 | ||||
Total loans held-in-portfolio, net | 1,165 | 1,173 | ||||
FDIC loss-share asset | 0 | 0 | ||||
Premises and equipment, net | 2,999 | 2,823 | ||||
Accrued income receivable | 73 | 85 | ||||
Mortgage servicing assets, at fair value | 0 | 0 | ||||
Other assets | 57,670 | 54,908 | ||||
Goodwill | 0 | 0 | ||||
Other intangible assets | 553 | 554 | ||||
Total assets | 6,030,993 | 5,897,988 | ||||
Deposits: | ||||||
Non-interest bearing | 0 | 0 | ||||
Interest bearing | 0 | 0 | ||||
Total deposits | 0 | 0 | ||||
Federal funds purchased and assets sold under agreements to repurchase | 0 | 0 | ||||
Other short-term borrowings | 0 | 0 | ||||
Notes payable | 734,036 | 733,516 | ||||
Other liabilities | 46,657 | 59,148 | ||||
Liabilities from discontinued operations | 0 | 0 | ||||
Total liabilities | 780,693 | 792,664 | ||||
Stockholders' equity: | ||||||
Preferred stock | 50,160 | 50,160 | ||||
Common stock | 1,039 | 1,038 | ||||
Surplus | 4,222,706 | 4,220,629 | ||||
Retained Earnings (Accumulated Deficit) | 1,165,003 | 1,096,484 | ||||
Treasury stock | (6,858) | (6,101) | ||||
Accumulated other comprehensive (loss) income, net of tax | (181,750) | (256,886) | ||||
Total stockholders' equity | 5,250,300 | 5,105,324 | ||||
Total liabilities and stockholders' equity | 6,030,993 | 5,897,988 | ||||
Popular, Inc. Holding Co. | Non Covered Under Loss Sharing Agreements with FDIC | ||||||
Loans held-in-portfolio: | ||||||
Other real estate owned | 566 | 532 | ||||
Popular, Inc. Holding Co. | Covered Under Loss Sharing Agreements With FDIC Member | ||||||
Loans held-in-portfolio: | ||||||
Other real estate owned | 0 | 0 | ||||
PNA Holding Co. | ||||||
Assets | ||||||
Cash And Due From Banks | 598 | 600 | ||||
Money market investments | 18,519 | 23,931 | ||||
Trading account securities, at fair value | 0 | 0 | ||||
Investment securities available-for-sale, at fair value | 0 | 0 | ||||
Investment securities held-to-maturity, at amortized cost | 0 | 0 | ||||
Other investment securities, at lower of cost or realizable value | 4,492 | 4,492 | ||||
Investment in subsidiaries | 1,819,384 | 1,789,512 | ||||
Loans held-for-sale, at lower of cost or fair value | 0 | 0 | ||||
Loans held-in-portfolio: | ||||||
Loans not covered under loss-sharing agreements with the FDIC | 0 | 0 | ||||
Loans covered under loss-sharing agreements with the FDIC | 0 | 0 | ||||
Less - Unearned income | 0 | 0 | ||||
Allowance for loan losses | 0 | 0 | ||||
Total loans held-in-portfolio, net | 0 | 0 | ||||
FDIC loss-share asset | 0 | 0 | ||||
Premises and equipment, net | 0 | 0 | ||||
Accrued income receivable | 36 | 115 | ||||
Mortgage servicing assets, at fair value | 0 | 0 | ||||
Other assets | 23,453 | 23,596 | ||||
Goodwill | 0 | 0 | ||||
Other intangible assets | 0 | 0 | ||||
Total assets | 1,866,482 | 1,842,246 | ||||
Deposits: | ||||||
Non-interest bearing | 0 | 0 | ||||
Interest bearing | 0 | 0 | ||||
Total deposits | 0 | 0 | ||||
Federal funds purchased and assets sold under agreements to repurchase | 0 | 0 | ||||
Other short-term borrowings | 0 | 0 | ||||
Notes payable | 148,492 | 148,483 | ||||
Other liabilities | 3,591 | 6,659 | ||||
Liabilities from discontinued operations | 0 | 0 | ||||
Total liabilities | 152,083 | 155,142 | ||||
Stockholders' equity: | ||||||
Preferred stock | 0 | 0 | ||||
Common stock | 2 | 2 | ||||
Surplus | 4,111,208 | 4,111,208 | ||||
Retained Earnings (Accumulated Deficit) | (2,409,905) | (2,416,251) | ||||
Treasury stock | 0 | 0 | ||||
Accumulated other comprehensive (loss) income, net of tax | 13,094 | (7,855) | ||||
Total stockholders' equity | 1,714,399 | 1,687,104 | ||||
Total liabilities and stockholders' equity | 1,866,482 | 1,842,246 | ||||
PNA Holding Co. | Non Covered Under Loss Sharing Agreements with FDIC | ||||||
Loans held-in-portfolio: | ||||||
Other real estate owned | 0 | 0 | ||||
PNA Holding Co. | Covered Under Loss Sharing Agreements With FDIC Member | ||||||
Loans held-in-portfolio: | ||||||
Other real estate owned | 0 | 0 | ||||
All other subsidiaries and eliminations | ||||||
Assets | ||||||
Cash And Due From Banks | 409,315 | 363,620 | ||||
Money market investments | 1,917,209 | 2,179,887 | ||||
Trading account securities, at fair value | 69,163 | 69,639 | ||||
Investment securities available-for-sale, at fair value | 6,649,603 | 6,062,776 | ||||
Investment securities held-to-maturity, at amortized cost | 99,216 | 100,903 | ||||
Other investment securities, at lower of cost or realizable value | 149,682 | 157,906 | ||||
Investment in subsidiaries | 0 | 0 | ||||
Loans held-for-sale, at lower of cost or fair value | 125,315 | 137,000 | ||||
Loans held-in-portfolio: | ||||||
Loans not covered under loss-sharing agreements with the FDIC | 22,617,321 | 22,452,637 | ||||
Loans covered under loss-sharing agreements with the FDIC | 625,130 | 646,115 | ||||
Less - Unearned income | 110,751 | 107,698 | ||||
Allowance for loan losses | 538,470 | 537,108 | ||||
Total loans held-in-portfolio, net | 22,593,230 | 22,453,946 | ||||
FDIC loss-share asset | 219,448 | 310,221 | ||||
Premises and equipment, net | 524,494 | 499,788 | ||||
Accrued income receivable | 120,229 | 124,070 | ||||
Mortgage servicing assets, at fair value | 205,051 | 211,405 | ||||
Other assets | 2,091,857 | 2,132,616 | ||||
Goodwill | 631,095 | 626,388 | ||||
Other intangible assets | 53,527 | 57,555 | ||||
Total assets | 36,060,225 | 35,679,104 | ||||
Deposits: | ||||||
Non-interest bearing | 6,405,516 | 6,426,359 | ||||
Interest bearing | 21,416,019 | 21,094,138 | ||||
Total deposits | 27,821,535 | 27,520,497 | ||||
Federal funds purchased and assets sold under agreements to repurchase | 760,154 | 762,145 | ||||
Other short-term borrowings | 6,370 | 1,200 | ||||
Notes payable | 700,940 | 780,509 | ||||
Other liabilities | 985,598 | 971,429 | ||||
Liabilities from discontinued operations | 1,815 | 1,815 | ||||
Total liabilities | 30,276,412 | 30,037,595 | ||||
Stockholders' equity: | ||||||
Preferred stock | 0 | 0 | ||||
Common stock | 56,307 | 56,307 | ||||
Surplus | 5,712,604 | 5,712,635 | ||||
Retained Earnings (Accumulated Deficit) | 195,181 | 128,459 | ||||
Treasury stock | 0 | 0 | ||||
Accumulated other comprehensive (loss) income, net of tax | (180,279) | (255,892) | ||||
Total stockholders' equity | 5,783,813 | 5,641,509 | ||||
Total liabilities and stockholders' equity | 36,060,225 | 35,679,104 | ||||
All other subsidiaries and eliminations | Non Covered Under Loss Sharing Agreements with FDIC | ||||||
Loans held-in-portfolio: | ||||||
Other real estate owned | 165,394 | 154,699 | ||||
All other subsidiaries and eliminations | Covered Under Loss Sharing Agreements With FDIC Member | ||||||
Loans held-in-portfolio: | ||||||
Other real estate owned | 36,397 | 36,685 | ||||
Elimination | ||||||
Assets | ||||||
Cash And Due From Banks | (21,423) | (24,844) | ||||
Money market investments | (273,519) | (285,930) | ||||
Trading account securities, at fair value | 0 | 0 | ||||
Investment securities available-for-sale, at fair value | 0 | 0 | ||||
Investment securities held-to-maturity, at amortized cost | 0 | 0 | ||||
Other investment securities, at lower of cost or realizable value | 0 | 0 | ||||
Investment in subsidiaries | (7,498,769) | (7,328,837) | ||||
Loans held-for-sale, at lower of cost or fair value | 0 | 0 | ||||
Loans held-in-portfolio: | ||||||
Loans not covered under loss-sharing agreements with the FDIC | 0 | 0 | ||||
Loans covered under loss-sharing agreements with the FDIC | 0 | 0 | ||||
Less - Unearned income | 0 | 0 | ||||
Allowance for loan losses | 0 | 0 | ||||
Total loans held-in-portfolio, net | 0 | 0 | ||||
FDIC loss-share asset | 0 | 0 | ||||
Premises and equipment, net | 0 | 0 | ||||
Accrued income receivable | (30) | (36) | ||||
Mortgage servicing assets, at fair value | 0 | 0 | ||||
Other assets | (16,950) | (17,958) | ||||
Goodwill | 0 | 0 | ||||
Other intangible assets | 0 | 0 | ||||
Total assets | (7,810,691) | (7,657,605) | ||||
Deposits: | ||||||
Non-interest bearing | (21,423) | (24,844) | ||||
Interest bearing | (273,519) | (285,930) | ||||
Total deposits | (294,942) | (310,774) | ||||
Federal funds purchased and assets sold under agreements to repurchase | 0 | 0 | ||||
Other short-term borrowings | 0 | 0 | ||||
Notes payable | 0 | 0 | ||||
Other liabilities | (17,537) | (18,218) | ||||
Liabilities from discontinued operations | 0 | 0 | ||||
Total liabilities | (312,479) | (328,992) | ||||
Stockholders' equity: | ||||||
Preferred stock | 0 | 0 | ||||
Common stock | (56,309) | (56,309) | ||||
Surplus | (9,815,285) | (9,815,316) | ||||
Retained Earnings (Accumulated Deficit) | 2,206,197 | 2,279,265 | ||||
Treasury stock | 0 | 0 | ||||
Accumulated other comprehensive (loss) income, net of tax | 167,185 | 263,747 | ||||
Total stockholders' equity | (7,498,212) | (7,328,613) | ||||
Total liabilities and stockholders' equity | (7,810,691) | (7,657,605) | ||||
Elimination | Non Covered Under Loss Sharing Agreements with FDIC | ||||||
Loans held-in-portfolio: | ||||||
Other real estate owned | 0 | 0 | ||||
Elimination | Covered Under Loss Sharing Agreements With FDIC Member | ||||||
Loans held-in-portfolio: | ||||||
Other real estate owned | $ 0 | $ 0 | ||||
[1] | Includes $2.2 billion pledged to secure public and trust deposits, assets sold under agreements to repurchase, credit facilities and loan servicing agreements that the secured parties are not permitted to sell or repledge the collateral, of which $1.3 billion serve as collateral for public funds. | |||||
[2] | Includes $2.4 billion pledged to secure public and trust deposits, assets sold under agreements to repurchase, credit facilities and loan servicing agreements that the secured parties are not permitted to sell or repledge the collateral, of which $1.5 billion serve as collateral for public funds. | |||||
[3] | Includes $97.5 million pledged to secure public and trust deposits that the secured parties are not permitted to sell or repledge the collateral. | |||||
[4] | Includes $57.2 million pledged to secure public and trust deposits that the secured parties are not permitted to sell or repledge the collateral. |
Condensed Consolidating Stat209
Condensed Consolidating Statement of Operations (Detail) - USD ($) $ in Thousands | 3 Months Ended | 18 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
INTEREST EXPENSE: | |||
Provision for loan losses | $ 44,835 | $ 40,035 | |
Adjustments To Indemnity Reserves On Loans Sold | (4,098) | (4,526) | |
Operating expenses: | |||
Amortization of intangibles | 3,114 | 2,104 | |
Equity in undistributed earnings (losses) of subsidiaries | 0 | 0 | |
Net Income | 84,999 | 74,826 | |
Comprehensive Income Net Of Tax | 160,135 | 110,298 | |
Continuing Operations | |||
INTEREST AND DIVIDEND INCOME: | |||
Dividend income from subsidiaries | 0 | 0 | |
Loans | 363,197 | 355,631 | |
Money market investments | 2,863 | 1,446 | |
Investment securities | 36,271 | 30,301 | |
Trading account securities | 1,689 | 2,696 | |
Total interest and dividend income | 404,020 | 390,074 | |
INTEREST EXPENSE: | |||
Deposits | 29,874 | 25,864 | |
Short-term borrowings | 1,861 | 1,734 | |
Interest Expense Long Term Debt | 19,873 | 19,281 | |
Total interest expense | 51,608 | 46,879 | |
Net interest income | 352,412 | 343,195 | |
Net interest income after provision for loan losses | 307,577 | 303,160 | |
Service charges on deposit accounts | 39,862 | 39,017 | |
Other service fees | 53,382 | 53,626 | |
Mortgage banking activities | 10,551 | 12,852 | |
Trading account profit | (162) | 414 | |
Net gain on sale of loans, including valuation adjustments on loans held-for-sale | (304) | (79) | |
Adjustments To Indemnity Reserves On Loans Sold | (4,098) | (4,526) | |
FDIC loss share (expense) income | (3,146) | 4,139 | |
Other operating income | 15,545 | 9,792 | |
Total non-interest income | 111,630 | 115,235 | |
Operating expenses: | |||
Personnel costs | 127,091 | 116,458 | |
Net occupancy expenses | 20,430 | 21,709 | |
Equipment expenses | 14,548 | 13,411 | |
Other taxes | 10,195 | 8,574 | |
Professional fees | 75,459 | 75,528 | |
Communications | 6,320 | 6,176 | |
Business promotion | 11,110 | 10,813 | |
FDIC deposit insurance | 7,370 | 6,398 | |
Other real estate owned (O R E O) expenses | 9,141 | 23,069 | |
Other operating expenses | 17,165 | 17,349 | |
Amortization of intangibles | 3,114 | 2,104 | |
Restructuring Costs | 0 | 10,753 | $ 45,100 |
Total operating expenses | 301,943 | 312,342 | |
Income (loss) from continuing operations before income tax | 117,264 | 106,053 | |
Income tax expense | 32,265 | 32,568 | |
Income Loss Before Equity In Undistributed Earnings Of Subsidiaries | 84,999 | 73,485 | |
Equity in undistributed earnings (losses) of subsidiaries | 0 | 0 | |
Income (loss) from continuing operations | 84,999 | 73,485 | |
Continuing Operations | Non Covered Under Loss Sharing Agreements with FDIC | |||
INTEREST EXPENSE: | |||
Provision for loan losses | 47,940 | 29,711 | |
Continuing Operations | Covered Under Loss Sharing Agreements With FDIC Member | |||
INTEREST EXPENSE: | |||
Provision for loan losses | (3,105) | 10,324 | |
Discontinued Operations | |||
Operating expenses: | |||
Income Loss From Discontinued Operations Net Of Tax | 0 | 1,341 | |
Popular, Inc. Holding Co. | |||
INTEREST EXPENSE: | |||
Provision for loan losses | (34) | 0 | |
Adjustments To Indemnity Reserves On Loans Sold | 0 | 0 | |
Operating expenses: | |||
Amortization of intangibles | 0 | 0 | |
Equity in undistributed earnings (losses) of subsidiaries | 64,477 | 81,565 | |
Net Income | 84,999 | 74,826 | |
Comprehensive Income Net Of Tax | 160,135 | 110,298 | |
Popular, Inc. Holding Co. | Continuing Operations | |||
INTEREST AND DIVIDEND INCOME: | |||
Dividend income from subsidiaries | 29,700 | 1,500 | |
Loans | 19 | 140 | |
Money market investments | 255 | 2 | |
Investment securities | 238 | 143 | |
Trading account securities | 0 | 0 | |
Total interest and dividend income | 30,212 | 1,785 | |
INTEREST EXPENSE: | |||
Deposits | 0 | 0 | |
Short-term borrowings | 0 | 0 | |
Interest Expense Long Term Debt | 13,117 | 13,118 | |
Total interest expense | 13,117 | 13,118 | |
Net interest income | 17,095 | (11,333) | |
Net interest income after provision for loan losses | 17,129 | (11,333) | |
Service charges on deposit accounts | 0 | 0 | |
Other service fees | 0 | 0 | |
Mortgage banking activities | 0 | 0 | |
Net (loss) gain and valuation adjustments on investment securities | 0 | 0 | |
Trading account profit | 24 | 40 | |
Net gain on sale of loans, including valuation adjustments on loans held-for-sale | 0 | 0 | |
Adjustments To Indemnity Reserves On Loans Sold | 0 | 0 | |
FDIC loss share (expense) income | 0 | 0 | |
Other operating income | 3,256 | 2,968 | |
Total non-interest income | 3,280 | 3,008 | |
Operating expenses: | |||
Personnel costs | 15,421 | 11,908 | |
Net occupancy expenses | 916 | 980 | |
Equipment expenses | 445 | 545 | |
Other taxes | 47 | (1,458) | |
Professional fees | 2,881 | 2,774 | |
Communications | 137 | 117 | |
Business promotion | 465 | 436 | |
FDIC deposit insurance | 0 | 0 | |
Other real estate owned (O R E O) expenses | 0 | 0 | |
Other operating expenses | (20,428) | (16,935) | |
Amortization of intangibles | 0 | 0 | |
Restructuring Costs | 0 | 0 | |
Total operating expenses | (116) | (1,633) | |
Income (loss) from continuing operations before income tax | 20,525 | (6,692) | |
Income tax expense | 3 | 47 | |
Income Loss Before Equity In Undistributed Earnings Of Subsidiaries | 20,522 | (6,739) | |
Equity in undistributed earnings (losses) of subsidiaries | 64,477 | 80,224 | |
Income (loss) from continuing operations | 84,999 | 73,485 | |
Popular, Inc. Holding Co. | Continuing Operations | Non Covered Under Loss Sharing Agreements with FDIC | |||
INTEREST EXPENSE: | |||
Provision for loan losses | (34) | 0 | |
Popular, Inc. Holding Co. | Continuing Operations | Covered Under Loss Sharing Agreements With FDIC Member | |||
INTEREST EXPENSE: | |||
Provision for loan losses | 0 | 0 | |
Popular, Inc. Holding Co. | Discontinued Operations | |||
Operating expenses: | |||
Equity in undistributed earnings (losses) of subsidiaries | 1,341 | ||
Income Loss From Discontinued Operations Net Of Tax | 0 | ||
PNA Holding Co. | |||
INTEREST EXPENSE: | |||
Provision for loan losses | 0 | 0 | |
Adjustments To Indemnity Reserves On Loans Sold | 0 | 0 | |
Operating expenses: | |||
Amortization of intangibles | 0 | 0 | |
Equity in undistributed earnings (losses) of subsidiaries | 8,923 | 2,610 | |
Net Income | 6,346 | (1,450) | |
Comprehensive Income Net Of Tax | 27,295 | 11,841 | |
PNA Holding Co. | Continuing Operations | |||
INTEREST AND DIVIDEND INCOME: | |||
Dividend income from subsidiaries | 0 | 0 | |
Loans | 0 | 0 | |
Money market investments | 21 | 2 | |
Investment securities | 80 | 81 | |
Trading account securities | 0 | 0 | |
Total interest and dividend income | 101 | 83 | |
INTEREST EXPENSE: | |||
Deposits | 0 | 0 | |
Short-term borrowings | 0 | 101 | |
Interest Expense Long Term Debt | 2,693 | 2,695 | |
Total interest expense | 2,693 | 2,796 | |
Net interest income | (2,592) | (2,713) | |
Net interest income after provision for loan losses | (2,592) | (2,713) | |
Service charges on deposit accounts | 0 | 0 | |
Other service fees | 0 | 0 | |
Mortgage banking activities | 0 | 0 | |
Net (loss) gain and valuation adjustments on investment securities | 0 | 0 | |
Trading account profit | 0 | 0 | |
Net gain on sale of loans, including valuation adjustments on loans held-for-sale | 0 | 0 | |
Adjustments To Indemnity Reserves On Loans Sold | 0 | 0 | |
FDIC loss share (expense) income | 0 | 0 | |
Other operating income | (1,303) | (828) | |
Total non-interest income | (1,303) | (828) | |
Operating expenses: | |||
Personnel costs | 0 | 0 | |
Net occupancy expenses | 0 | 0 | |
Equipment expenses | 0 | 0 | |
Other taxes | 0 | 0 | |
Professional fees | 30 | 410 | |
Communications | 0 | 0 | |
Business promotion | 0 | 0 | |
FDIC deposit insurance | 0 | 0 | |
Other real estate owned (O R E O) expenses | 0 | 0 | |
Other operating expenses | 39 | 109 | |
Amortization of intangibles | 0 | 0 | |
Restructuring Costs | 0 | 0 | |
Total operating expenses | 69 | 519 | |
Income (loss) from continuing operations before income tax | (3,964) | (4,060) | |
Income tax expense | (1,387) | 0 | |
Income Loss Before Equity In Undistributed Earnings Of Subsidiaries | (2,577) | (4,060) | |
Equity in undistributed earnings (losses) of subsidiaries | 8,923 | 1,269 | |
Income (loss) from continuing operations | 6,346 | (2,791) | |
PNA Holding Co. | Continuing Operations | Non Covered Under Loss Sharing Agreements with FDIC | |||
INTEREST EXPENSE: | |||
Provision for loan losses | 0 | 0 | |
PNA Holding Co. | Continuing Operations | Covered Under Loss Sharing Agreements With FDIC Member | |||
INTEREST EXPENSE: | |||
Provision for loan losses | 0 | 0 | |
PNA Holding Co. | Discontinued Operations | |||
Operating expenses: | |||
Equity in undistributed earnings (losses) of subsidiaries | 1,341 | ||
Income Loss From Discontinued Operations Net Of Tax | 0 | ||
All other subsidiaries and eliminations | |||
INTEREST EXPENSE: | |||
Provision for loan losses | 44,869 | 40,035 | |
Adjustments To Indemnity Reserves On Loans Sold | (4,098) | (4,526) | |
Operating expenses: | |||
Amortization of intangibles | 3,114 | 2,104 | |
Equity in undistributed earnings (losses) of subsidiaries | 0 | 0 | |
Net Income | 96,422 | 86,742 | |
Comprehensive Income Net Of Tax | 172,035 | 122,078 | |
All other subsidiaries and eliminations | Continuing Operations | |||
INTEREST AND DIVIDEND INCOME: | |||
Dividend income from subsidiaries | 0 | 0 | |
Loans | 363,178 | 355,613 | |
Money market investments | 2,863 | 1,444 | |
Investment securities | 35,953 | 30,077 | |
Trading account securities | 1,689 | 2,696 | |
Total interest and dividend income | 403,683 | 389,830 | |
INTEREST EXPENSE: | |||
Deposits | 30,150 | 25,866 | |
Short-term borrowings | 1,861 | 1,755 | |
Interest Expense Long Term Debt | 4,063 | 3,468 | |
Total interest expense | 36,074 | 31,089 | |
Net interest income | 367,609 | 358,741 | |
Net interest income after provision for loan losses | 322,740 | 318,706 | |
Service charges on deposit accounts | 39,862 | 39,017 | |
Other service fees | 53,439 | 53,714 | |
Mortgage banking activities | 10,551 | 12,852 | |
Net (loss) gain and valuation adjustments on investment securities | 0 | 0 | |
Trading account profit | (186) | 374 | |
Net gain on sale of loans, including valuation adjustments on loans held-for-sale | (304) | (79) | |
Adjustments To Indemnity Reserves On Loans Sold | (4,098) | (4,526) | |
FDIC loss share (expense) income | (3,146) | 4,139 | |
Other operating income | 13,599 | 7,668 | |
Total non-interest income | 109,717 | 113,159 | |
Operating expenses: | |||
Personnel costs | 111,670 | 104,550 | |
Net occupancy expenses | 19,514 | 20,729 | |
Equipment expenses | 14,103 | 12,866 | |
Other taxes | 10,148 | 10,032 | |
Professional fees | 72,605 | 72,432 | |
Communications | 6,183 | 6,059 | |
Business promotion | 10,645 | 10,377 | |
FDIC deposit insurance | 7,370 | 6,398 | |
Other real estate owned (O R E O) expenses | 9,141 | 23,069 | |
Other operating expenses | 38,106 | 34,819 | |
Amortization of intangibles | 3,114 | 2,104 | |
Restructuring Costs | 0 | 10,753 | |
Total operating expenses | 302,599 | 314,188 | |
Income (loss) from continuing operations before income tax | 129,858 | 117,677 | |
Income tax expense | 33,436 | 32,276 | |
Income Loss Before Equity In Undistributed Earnings Of Subsidiaries | 96,422 | 85,401 | |
Equity in undistributed earnings (losses) of subsidiaries | 0 | 0 | |
Income (loss) from continuing operations | 96,422 | 85,401 | |
All other subsidiaries and eliminations | Continuing Operations | Non Covered Under Loss Sharing Agreements with FDIC | |||
INTEREST EXPENSE: | |||
Provision for loan losses | 47,974 | 29,711 | |
All other subsidiaries and eliminations | Continuing Operations | Covered Under Loss Sharing Agreements With FDIC Member | |||
INTEREST EXPENSE: | |||
Provision for loan losses | (3,105) | 10,324 | |
All other subsidiaries and eliminations | Discontinued Operations | |||
Operating expenses: | |||
Equity in undistributed earnings (losses) of subsidiaries | 0 | ||
Income Loss From Discontinued Operations Net Of Tax | 1,341 | ||
Elimination | |||
INTEREST EXPENSE: | |||
Provision for loan losses | 0 | 0 | |
Adjustments To Indemnity Reserves On Loans Sold | 0 | 0 | |
Operating expenses: | |||
Amortization of intangibles | 0 | 0 | |
Equity in undistributed earnings (losses) of subsidiaries | (73,400) | (84,175) | |
Net Income | (102,768) | (85,292) | |
Comprehensive Income Net Of Tax | (199,330) | (133,919) | |
Elimination | Continuing Operations | |||
INTEREST AND DIVIDEND INCOME: | |||
Dividend income from subsidiaries | (29,700) | (1,500) | |
Loans | 0 | (122) | |
Money market investments | (276) | (2) | |
Investment securities | 0 | 0 | |
Trading account securities | 0 | 0 | |
Total interest and dividend income | (29,976) | (1,624) | |
INTEREST EXPENSE: | |||
Deposits | (276) | (2) | |
Short-term borrowings | 0 | (122) | |
Interest Expense Long Term Debt | 0 | 0 | |
Total interest expense | (276) | (124) | |
Net interest income | (29,700) | (1,500) | |
Net interest income after provision for loan losses | (29,700) | (1,500) | |
Service charges on deposit accounts | 0 | 0 | |
Other service fees | (57) | (88) | |
Mortgage banking activities | 0 | 0 | |
Net (loss) gain and valuation adjustments on investment securities | 0 | 0 | |
Trading account profit | 0 | 0 | |
Net gain on sale of loans, including valuation adjustments on loans held-for-sale | 0 | 0 | |
Adjustments To Indemnity Reserves On Loans Sold | 0 | 0 | |
FDIC loss share (expense) income | 0 | 0 | |
Other operating income | (7) | (16) | |
Total non-interest income | (64) | (104) | |
Operating expenses: | |||
Personnel costs | 0 | 0 | |
Net occupancy expenses | 0 | 0 | |
Equipment expenses | 0 | 0 | |
Other taxes | 0 | 0 | |
Professional fees | (57) | (88) | |
Communications | 0 | 0 | |
Business promotion | 0 | 0 | |
FDIC deposit insurance | 0 | 0 | |
Other real estate owned (O R E O) expenses | 0 | 0 | |
Other operating expenses | (552) | (644) | |
Amortization of intangibles | 0 | 0 | |
Restructuring Costs | 0 | 0 | |
Total operating expenses | (609) | (732) | |
Income (loss) from continuing operations before income tax | (29,155) | (872) | |
Income tax expense | 213 | 245 | |
Income Loss Before Equity In Undistributed Earnings Of Subsidiaries | (29,368) | (1,117) | |
Equity in undistributed earnings (losses) of subsidiaries | (73,400) | (81,493) | |
Income (loss) from continuing operations | (102,768) | (82,610) | |
Elimination | Continuing Operations | Non Covered Under Loss Sharing Agreements with FDIC | |||
INTEREST EXPENSE: | |||
Provision for loan losses | 0 | 0 | |
Elimination | Continuing Operations | Covered Under Loss Sharing Agreements With FDIC Member | |||
INTEREST EXPENSE: | |||
Provision for loan losses | $ 0 | 0 | |
Elimination | Discontinued Operations | |||
Operating expenses: | |||
Equity in undistributed earnings (losses) of subsidiaries | (2,682) | ||
Income Loss From Discontinued Operations Net Of Tax | $ 0 |
Condensed Consolidating Stat210
Condensed Consolidating Statement of Cash Flow (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Cash flows from operating activities: | ||
Net Income | $ 84,999 | $ 74,826 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
Equity in undistributed earnings of subsidiaries | 0 | 0 |
Provision (reversal) for loan losses | 44,835 | 40,035 |
Amortization of intangibles | 3,114 | 2,104 |
Depreciation and amortization of premises and equipment | 11,707 | 11,919 |
Net accretion of discounts and amortization of premiums and deferred fees | (11,158) | (19,100) |
Fair value adjustments on mortgage servicing rights | 8,477 | 4,929 |
FDIC loss share (income) expense | 3,146 | (4,139) |
Adjustments (expense) to indemnity reserves on loans sold | 4,098 | 4,526 |
Earnings from investments under the equity method | (7,089) | (2,301) |
Deferred income tax (benefit) expense | 23,218 | 23,380 |
(Gain) loss on: | ||
Disposition of premises and equipment and other productive assets | (1,946) | (978) |
Sale of loans, including valuation adjustments on loans held-for-sale and mortgage banking activities | (7,101) | (7,222) |
Sale of foreclosed assets, including write-downs | 2,802 | 14,851 |
Acquisitions of loans held-for-sale | (66,451) | (121,929) |
Proceeds from sale of loans held-for-sale | 22,253 | 27,547 |
Net originations on loans held-for-sale | (110,528) | (179,604) |
Net (increase) decrease in: | ||
Trading securities | 176,598 | 177,942 |
Accrued income receivable | 3,926 | (13) |
Other assets | 20,996 | (28,027) |
Net increase (decrease) in: | ||
Interest payable | (12,261) | (10,216) |
Pension and other postretirement benefits obligation | 1,536 | 1,019 |
Other liabilities | (17,010) | (19,377) |
Total adjustments | 93,162 | (84,654) |
Net cash (used in) provided by operating activities | 178,161 | (9,828) |
Cash flows from investing activities: | ||
Net (increase) decrease in money market investments | 262,632 | (484,829) |
Purchases of investment securities: | ||
Available-for-sale | (742,859) | (411,189) |
Held-to-maturity | 0 | (250) |
Other | (59,786) | (2,520) |
Proceeds from calls, paydowns, maturities and redemptions of investment securities: | ||
Available-for-sale | 239,399 | 385,672 |
Held-to-maturity | 2,108 | 2,231 |
Other | 41,664 | 30,785 |
Proceeds from sale of other investment securities | 26,346 | 1,388 |
Net repayments on loans | 13,335 | 154,794 |
Proceeds from sale of loans | 1,128 | 19,127 |
Acquisition of loan portfolios | (212,798) | (49,510) |
Net payments from FDIC under loss sharing agreements | 88,588 | 132,265 |
Net cash received and acquired from business combination | 0 | 711,051 |
Return of capital from equity method investments | 206 | 0 |
Mortgage servicing rights purchased | 0 | (2,400) |
Acquisition of premises and equipment | (38,819) | (10,231) |
Proceeds from sale of: | ||
Premises and equipment and other productive assets | 5,092 | 3,093 |
Foreclosed assets | 14,513 | 40,161 |
Net cash (used in) provided by investing activities | (359,251) | 519,638 |
Net increase (decrease) in: | ||
Deposits | 318,550 | 265,906 |
Federal funds purchased and assets sold under agreements to repurchase | (1,991) | (139,013) |
Other short-term borrowings | 5,170 | (148,215) |
Payments of notes payable | (108,452) | (419,487) |
Proceeds from issuance of notes payable | 28,883 | 46,000 |
Proceeds from issuance of common stock | 2,109 | 1,405 |
Cash Dividends Paid To Parent Company | 0 | 0 |
Dividends paid | (16,473) | (620) |
Net payments for repurchase of common stock | (757) | (1,105) |
Net cash (used in) provided by financing activities | 227,039 | (395,129) |
Net (decrease) increase in cash and due from banks | 45,949 | 114,681 |
Cash and due from banks at beginning of period | 363,674 | 381,095 |
Cash and due from banks at end of period | 409,623 | 495,776 |
Popular, Inc. Holding Co. | ||
Cash flows from operating activities: | ||
Net Income | 84,999 | 74,826 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
Equity in undistributed earnings of subsidiaries | (64,477) | (81,565) |
Provision (reversal) for loan losses | (34) | 0 |
Amortization of intangibles | 0 | 0 |
Depreciation and amortization of premises and equipment | 177 | 194 |
Net accretion of discounts and amortization of premiums and deferred fees | 521 | 0 |
Fair value adjustments on mortgage servicing rights | 0 | 0 |
FDIC loss share (income) expense | 0 | 0 |
Adjustments (expense) to indemnity reserves on loans sold | 0 | 0 |
Earnings from investments under the equity method | (3,256) | (2,968) |
Deferred income tax (benefit) expense | 3 | 0 |
(Gain) loss on: | ||
Disposition of premises and equipment and other productive assets | 0 | 0 |
Sale of loans, including valuation adjustments on loans held-for-sale and mortgage banking activities | 0 | 0 |
Sale of foreclosed assets, including write-downs | 0 | 0 |
Acquisitions of loans held-for-sale | 0 | 0 |
Proceeds from sale of loans held-for-sale | 0 | 0 |
Net originations on loans held-for-sale | 0 | 0 |
Net (increase) decrease in: | ||
Trading securities | (101) | (126) |
Accrued income receivable | 12 | (56) |
Other assets | 1 | 3,716 |
Net increase (decrease) in: | ||
Interest payable | (7,875) | (7,875) |
Pension and other postretirement benefits obligation | 0 | 0 |
Other liabilities | (4,622) | (12,816) |
Total adjustments | (79,651) | (101,496) |
Net cash (used in) provided by operating activities | 5,348 | (26,670) |
Cash flows from investing activities: | ||
Net (increase) decrease in money market investments | 6,952 | (38) |
Purchases of investment securities: | ||
Available-for-sale | 0 | 0 |
Held-to-maturity | 0 | |
Other | 0 | 0 |
Proceeds from calls, paydowns, maturities and redemptions of investment securities: | ||
Available-for-sale | 0 | 0 |
Held-to-maturity | 0 | 0 |
Other | 0 | 0 |
Proceeds from sale of other investment securities | 0 | 0 |
Net repayments on loans | 8 | 10,392 |
Proceeds from sale of loans | 0 | 0 |
Acquisition of loan portfolios | 0 | 0 |
Net payments from FDIC under loss sharing agreements | 0 | 0 |
Net cash received and acquired from business combination | 0 | |
Return of capital from equity method investments | 0 | |
Mortgage servicing rights purchased | 0 | |
Acquisition of premises and equipment | (398) | (242) |
Proceeds from sale of: | ||
Premises and equipment and other productive assets | 46 | 3 |
Foreclosed assets | 0 | 0 |
Net cash (used in) provided by investing activities | 6,608 | 10,115 |
Net increase (decrease) in: | ||
Deposits | 0 | 0 |
Federal funds purchased and assets sold under agreements to repurchase | 0 | 0 |
Other short-term borrowings | 0 | 0 |
Payments of notes payable | 0 | 0 |
Proceeds from issuance of notes payable | 0 | 0 |
Proceeds from issuance of common stock | 2,109 | 1,405 |
Cash Dividends Paid To Parent Company | 0 | 0 |
Dividends paid | (16,473) | (620) |
Net payments for repurchase of common stock | (757) | (1,105) |
Net cash (used in) provided by financing activities | (15,121) | (320) |
Net (decrease) increase in cash and due from banks | (3,165) | (16,875) |
Cash and due from banks at beginning of period | 24,298 | 20,448 |
Cash and due from banks at end of period | 21,133 | 3,573 |
PNA Holding Co. | ||
Cash flows from operating activities: | ||
Net Income | 6,346 | (1,450) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
Equity in undistributed earnings of subsidiaries | (8,923) | (2,610) |
Provision (reversal) for loan losses | 0 | 0 |
Amortization of intangibles | 0 | 0 |
Depreciation and amortization of premises and equipment | 0 | 0 |
Net accretion of discounts and amortization of premiums and deferred fees | 8 | 0 |
Fair value adjustments on mortgage servicing rights | 0 | 0 |
FDIC loss share (income) expense | 0 | 0 |
Adjustments (expense) to indemnity reserves on loans sold | 0 | 0 |
Earnings from investments under the equity method | 1,303 | 828 |
Deferred income tax (benefit) expense | (1,387) | 0 |
(Gain) loss on: | ||
Disposition of premises and equipment and other productive assets | 0 | 0 |
Sale of loans, including valuation adjustments on loans held-for-sale and mortgage banking activities | 0 | 0 |
Sale of foreclosed assets, including write-downs | 0 | 0 |
Acquisitions of loans held-for-sale | 0 | 0 |
Proceeds from sale of loans held-for-sale | 0 | 0 |
Net originations on loans held-for-sale | 0 | 0 |
Net (increase) decrease in: | ||
Trading securities | 0 | 0 |
Accrued income receivable | 79 | 81 |
Other assets | 21 | 28 |
Net increase (decrease) in: | ||
Interest payable | (2,685) | (2,629) |
Pension and other postretirement benefits obligation | 0 | 0 |
Other liabilities | (382) | (7) |
Total adjustments | (11,966) | (4,309) |
Net cash (used in) provided by operating activities | (5,620) | (5,759) |
Cash flows from investing activities: | ||
Net (increase) decrease in money market investments | 5,412 | (1,457) |
Purchases of investment securities: | ||
Available-for-sale | 0 | 0 |
Held-to-maturity | 0 | |
Other | 0 | 0 |
Proceeds from calls, paydowns, maturities and redemptions of investment securities: | ||
Available-for-sale | 0 | 0 |
Held-to-maturity | 0 | 0 |
Other | 0 | 0 |
Proceeds from sale of other investment securities | 0 | 0 |
Net repayments on loans | 0 | 0 |
Proceeds from sale of loans | 0 | 0 |
Acquisition of loan portfolios | 0 | 0 |
Net payments from FDIC under loss sharing agreements | 0 | 0 |
Net cash received and acquired from business combination | 0 | |
Return of capital from equity method investments | 206 | |
Mortgage servicing rights purchased | 0 | |
Acquisition of premises and equipment | 0 | 0 |
Proceeds from sale of: | ||
Premises and equipment and other productive assets | 0 | 0 |
Foreclosed assets | 0 | 0 |
Net cash (used in) provided by investing activities | 5,618 | (1,457) |
Net increase (decrease) in: | ||
Deposits | 0 | 0 |
Federal funds purchased and assets sold under agreements to repurchase | 0 | 0 |
Other short-term borrowings | 0 | 7,214 |
Payments of notes payable | 0 | 0 |
Proceeds from issuance of notes payable | 0 | 0 |
Proceeds from issuance of common stock | 0 | 0 |
Cash Dividends Paid To Parent Company | 0 | 0 |
Dividends paid | 0 | 0 |
Net payments for repurchase of common stock | 0 | 0 |
Net cash (used in) provided by financing activities | 0 | 7,214 |
Net (decrease) increase in cash and due from banks | (2) | (2) |
Cash and due from banks at beginning of period | 600 | 608 |
Cash and due from banks at end of period | 598 | 606 |
All other subsidiaries and eliminations | ||
Cash flows from operating activities: | ||
Net Income | 96,422 | 86,742 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
Equity in undistributed earnings of subsidiaries | 0 | 0 |
Provision (reversal) for loan losses | 44,869 | 40,035 |
Amortization of intangibles | 3,114 | 2,104 |
Depreciation and amortization of premises and equipment | 11,530 | 11,725 |
Net accretion of discounts and amortization of premiums and deferred fees | (11,687) | (19,100) |
Fair value adjustments on mortgage servicing rights | 8,477 | 4,929 |
FDIC loss share (income) expense | 3,146 | (4,139) |
Adjustments (expense) to indemnity reserves on loans sold | 4,098 | 4,526 |
Earnings from investments under the equity method | (5,136) | (161) |
Deferred income tax (benefit) expense | 24,389 | 23,135 |
(Gain) loss on: | ||
Disposition of premises and equipment and other productive assets | (1,946) | (978) |
Sale of loans, including valuation adjustments on loans held-for-sale and mortgage banking activities | (7,101) | (7,222) |
Sale of foreclosed assets, including write-downs | 2,802 | 14,851 |
Acquisitions of loans held-for-sale | (66,451) | (121,929) |
Proceeds from sale of loans held-for-sale | 22,253 | 27,547 |
Net originations on loans held-for-sale | (110,528) | (179,604) |
Net (increase) decrease in: | ||
Trading securities | 176,699 | 178,068 |
Accrued income receivable | 3,842 | (94) |
Other assets | 22,194 | (27,900) |
Net increase (decrease) in: | ||
Interest payable | (1,708) | 344 |
Pension and other postretirement benefits obligation | 1,536 | 1,019 |
Other liabilities | (12,681) | (9,797) |
Total adjustments | 111,711 | (62,641) |
Net cash (used in) provided by operating activities | 208,133 | 24,101 |
Cash flows from investing activities: | ||
Net (increase) decrease in money market investments | 262,679 | (484,791) |
Purchases of investment securities: | ||
Available-for-sale | (742,859) | (411,189) |
Held-to-maturity | (250) | |
Other | (59,786) | (2,520) |
Proceeds from calls, paydowns, maturities and redemptions of investment securities: | ||
Available-for-sale | 239,399 | 385,672 |
Held-to-maturity | 2,108 | 2,231 |
Other | 41,664 | 30,785 |
Proceeds from sale of other investment securities | 26,346 | 1,388 |
Net repayments on loans | 13,327 | 154,788 |
Proceeds from sale of loans | 1,128 | 19,127 |
Acquisition of loan portfolios | (212,798) | (49,510) |
Net payments from FDIC under loss sharing agreements | 88,588 | 132,265 |
Net cash received and acquired from business combination | 711,051 | |
Return of capital from equity method investments | 0 | |
Mortgage servicing rights purchased | (2,400) | |
Acquisition of premises and equipment | (38,421) | (9,989) |
Proceeds from sale of: | ||
Premises and equipment and other productive assets | 5,046 | 3,090 |
Foreclosed assets | 14,513 | 40,161 |
Net cash (used in) provided by investing activities | (359,066) | 519,909 |
Net increase (decrease) in: | ||
Deposits | 302,718 | 250,582 |
Federal funds purchased and assets sold under agreements to repurchase | (1,991) | (139,013) |
Other short-term borrowings | 5,170 | (165,815) |
Payments of notes payable | (108,452) | (419,487) |
Proceeds from issuance of notes payable | 28,883 | 46,000 |
Proceeds from issuance of common stock | 0 | 0 |
Cash Dividends Paid To Parent Company | (29,700) | (1,500) |
Dividends paid | 0 | 0 |
Net payments for repurchase of common stock | 0 | 0 |
Net cash (used in) provided by financing activities | 196,628 | (429,233) |
Net (decrease) increase in cash and due from banks | 45,695 | 114,777 |
Cash and due from banks at beginning of period | 363,620 | 380,890 |
Cash and due from banks at end of period | 409,315 | 495,667 |
Elimination | ||
Cash flows from operating activities: | ||
Net Income | (102,768) | (85,292) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
Equity in undistributed earnings of subsidiaries | 73,400 | 84,175 |
Provision (reversal) for loan losses | 0 | 0 |
Amortization of intangibles | 0 | 0 |
Depreciation and amortization of premises and equipment | 0 | 0 |
Net accretion of discounts and amortization of premiums and deferred fees | 0 | 0 |
Fair value adjustments on mortgage servicing rights | 0 | 0 |
FDIC loss share (income) expense | 0 | 0 |
Adjustments (expense) to indemnity reserves on loans sold | 0 | 0 |
Earnings from investments under the equity method | 0 | 0 |
Deferred income tax (benefit) expense | 213 | 245 |
(Gain) loss on: | ||
Disposition of premises and equipment and other productive assets | 0 | 0 |
Sale of loans, including valuation adjustments on loans held-for-sale and mortgage banking activities | 0 | 0 |
Sale of foreclosed assets, including write-downs | 0 | 0 |
Acquisitions of loans held-for-sale | 0 | 0 |
Proceeds from sale of loans held-for-sale | 0 | 0 |
Net originations on loans held-for-sale | 0 | 0 |
Net (increase) decrease in: | ||
Trading securities | 0 | 0 |
Accrued income receivable | (7) | 56 |
Other assets | (1,220) | (3,871) |
Net increase (decrease) in: | ||
Interest payable | 7 | (56) |
Pension and other postretirement benefits obligation | 0 | 0 |
Other liabilities | 675 | 3,243 |
Total adjustments | 73,068 | 83,792 |
Net cash (used in) provided by operating activities | (29,700) | (1,500) |
Cash flows from investing activities: | ||
Net (increase) decrease in money market investments | (12,411) | 1,457 |
Purchases of investment securities: | ||
Available-for-sale | 0 | 0 |
Held-to-maturity | 0 | |
Other | 0 | 0 |
Proceeds from calls, paydowns, maturities and redemptions of investment securities: | ||
Available-for-sale | 0 | 0 |
Held-to-maturity | 0 | 0 |
Other | 0 | 0 |
Proceeds from sale of other investment securities | 0 | 0 |
Net repayments on loans | 0 | (10,386) |
Proceeds from sale of loans | 0 | 0 |
Acquisition of loan portfolios | 0 | 0 |
Net payments from FDIC under loss sharing agreements | 0 | 0 |
Net cash received and acquired from business combination | 0 | |
Return of capital from equity method investments | 0 | |
Mortgage servicing rights purchased | 0 | |
Acquisition of premises and equipment | 0 | 0 |
Proceeds from sale of: | ||
Premises and equipment and other productive assets | 0 | 0 |
Foreclosed assets | 0 | 0 |
Net cash (used in) provided by investing activities | (12,411) | (8,929) |
Net increase (decrease) in: | ||
Deposits | 15,832 | 15,324 |
Federal funds purchased and assets sold under agreements to repurchase | 0 | 0 |
Other short-term borrowings | 0 | 10,386 |
Payments of notes payable | 0 | 0 |
Proceeds from issuance of notes payable | 0 | 0 |
Proceeds from issuance of common stock | 0 | 0 |
Cash Dividends Paid To Parent Company | 29,700 | 1,500 |
Dividends paid | 0 | 0 |
Net payments for repurchase of common stock | 0 | 0 |
Net cash (used in) provided by financing activities | 45,532 | 27,210 |
Net (decrease) increase in cash and due from banks | 3,421 | 16,781 |
Cash and due from banks at beginning of period | (24,844) | (20,851) |
Cash and due from banks at end of period | $ (21,423) | $ (4,070) |