DOCUMENT AND ENTITY INFORMATION
DOCUMENT AND ENTITY INFORMATION - shares | 9 Months Ended | |
Sep. 30, 2016 | Nov. 04, 2016 | |
Document Documentand Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q3 | |
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 | 103,779,136 |
CONSOLIDATED STATEMENTS OF COND
CONSOLIDATED STATEMENTS OF CONDITION - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | |||
Assets | |||||
Cash And Due From Banks | $ 350,545 | $ 363,674 | |||
Money market investments: | |||||
Securities purchased under agreements to resell | 22,380 | 96,338 | |||
Time deposits with other banks | 3,941,115 | 2,083,754 | |||
Total money market investments | 3,963,495 | 2,180,092 | |||
Trading account securities, at fair value: | |||||
Pledged securities with creditors right to repledge | 22,848 | 19,506 | |||
Other trading securities | 49,736 | 52,153 | |||
Investment securities available-for-sale, at fair value: | |||||
Pledged securities with creditors right to repledge | 785,124 | 739,045 | |||
Other investment securities available-for-sale | 6,843,532 | 5,323,947 | |||
Investment securities held-to-maturity, at amortized cost (fair value 2016 - $79,410; 2015 - $82,889) | 97,973 | [1] | 100,903 | [2] | |
Other investment securities, at lower of cost or realizable value (realizable value 2016 - $172,077; 2015 - $175,291) | 168,791 | 172,248 | |||
Loans held-for-sale, at lower of cost or fair value | 72,076 | 137,000 | |||
Loans held-in-portfolio: | |||||
Loans not covered under loss-sharing agreements with the FDIC | 22,714,358 | 22,453,813 | |||
Loans covered under loss-sharing agreements with the FDIC | 588,211 | 646,115 | |||
Less - Unearned income | 118,386 | 107,698 | |||
Allowance for loan losses | 555,855 | 537,111 | |||
Total loans held-in-portfolio, net | 22,628,328 | 22,455,119 | |||
FDIC loss-share asset | 152,467 | 310,221 | |||
Premises and equipment, net | 537,975 | 502,611 | |||
Accrued income receivable | 119,691 | 124,234 | |||
Mortgage servicing assets, at fair value | 200,354 | 211,405 | |||
Other Assets | 2,163,939 | 2,193,162 | |||
Goodwill | 627,294 | 626,388 | |||
Other intangible assets | 47,886 | 58,109 | |||
Total assets | 39,054,296 | 35,761,733 | |||
Deposits: | |||||
Non-interest bearing | 6,950,287 | 6,401,515 | |||
Interest bearing | 23,376,758 | 20,808,208 | |||
Total deposits | 30,327,045 | 27,209,723 | |||
Federal funds purchased and assets sold under agreements to repurchase | 765,251 | 762,145 | |||
Other short-term borrowings | 1,200 | 1,200 | |||
Notes payable | 1,598,533 | 1,662,508 | |||
Other liabilities | 980,057 | 1,019,018 | |||
Liabilities from discontinued operations | 1,815 | 1,815 | |||
Total liabilities | 33,673,901 | 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; 104,014,381 shares issued (2015 - 103,816,185) and 103,762,596 shares outstanding (2015 - 103,618,976) | 1,040 | 1,038 | |||
Surplus | 4,234,842 | 4,229,156 | |||
Retained earnings | 1,259,295 | 1,087,957 | |||
Treasury stock - at cost, 251,785 shares (2015 - 197,209) | (7,647) | (6,101) | |||
Accumulated other comprehensive loss, net of tax | [3] | (157,295) | (256,886) | ||
Total stockholders' equity | 5,380,395 | 5,105,324 | |||
Total liabilities and stockholders' equity | 39,054,296 | 35,761,733 | |||
Non Covered Under Loss Sharing Agreements with FDIC | |||||
Loans held-in-portfolio: | |||||
Other real estate owned | 184,828 | 155,231 | |||
Covered Under Loss Sharing Agreements With FDIC Member | |||||
Loans held-in-portfolio: | |||||
Loans covered under loss-sharing agreements with the FDIC | 588,211 | [4] | 646,115 | [5] | |
Other real estate owned | $ 37,414 | $ 36,685 | |||
[1] | Includes $96.2 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. | ||||
[3] | All amounts presented are net of tax. | ||||
[4] | Includes $349 million pledged to secure credit facilities at the FHLB which are not permitted to sell or repledge the collateral. | ||||
[5] | Includes $386 million pledged to secure credit facilities at the FHLB which are not permitted to sell or repledge the collateral. |
CONSOLIDATED STATEMENTS OF CON3
CONSOLIDATED STATEMENTS OF CONDITION (PARENTHETICAL) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | ||
Statement of Financial Position [Abstract] | ||||
Held To Maturity Securities Fair Value | $ 79,410 | [1] | $ 82,889 | [2] |
Realizable Value Of Other Investment Securities | $ 172,077 | $ 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 | 104,014,381 | 103,816,185 | ||
Common Stock Shares Outstanding | 103,762,596 | 103,618,976 | ||
Treasury stock - at cost, shares | 251,785 | 197,209 | ||
[1] | Includes $96.2 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 | 9 Months Ended | 18 Months Ended | ||||
Sep. 30, 2016 | Jun. 30, 2016 | Sep. 30, 2015 | Jun. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
INTEREST EXPENSE: | |||||||
Provision for loan losses | $ 128,651 | $ 182,947 | |||||
Other-than-temporary impairment on investment securities | (209) | (14,445) | |||||
Adjustments (expense) to indemnity reserves on loans sold | (14,234) | (9,981) | |||||
Operating expenses: | |||||||
Amortization of intangibles | 9,308 | 8,497 | |||||
Goodwill impairment charge | 3,801 | 0 | |||||
Net Income | $ 46,810 | $ 85,640 | 220,796 | 757,918 | |||
Net income applicable to common stock | $ 45,880 | $ 84,709 | $ 218,004 | $ 755,126 | |||
Net Income per Common Share - Basic | $ 0.44 | $ 0.82 | $ 2.11 | $ 7.34 | |||
Net Income per Common Share - Diluted | 0.44 | 0.82 | 2.11 | 7.32 | |||
Dividends Declared per Common Share | $ 0.15 | $ 0.15 | $ 0.45 | $ 0.15 | |||
Continuing Operations | |||||||
Interest income: | |||||||
Loans | $ 363,550 | $ 364,458 | $ 1,096,468 | $ 1,094,222 | |||
Money market investments | 4,568 | 2,003 | 11,320 | 5,294 | |||
Investment securities | 37,732 | 31,671 | 110,728 | 93,269 | |||
Trading account securities | 1,449 | 3,150 | 5,013 | 8,872 | |||
Total interest income | 407,299 | 401,282 | 1,223,529 | 1,201,657 | |||
INTEREST EXPENSE: | |||||||
Deposits | 32,362 | 28,357 | 92,835 | 80,479 | |||
Short-term borrowings | 2,132 | 2,222 | 6,051 | 5,819 | |||
Long-term debt | 19,118 | 19,968 | 57,993 | 58,876 | |||
Total interest expense | 53,612 | 50,547 | 156,879 | 145,174 | |||
Net interest income | 353,687 | 350,735 | 1,066,650 | 1,056,483 | |||
Net interest income after provision for loan losses | 310,343 | 284,057 | 937,999 | 873,536 | |||
Service charges on deposit accounts | 40,776 | 40,960 | 120,934 | 120,115 | |||
Other service fees | 59,169 | 56,115 | 169,496 | 169,162 | |||
Mortgage banking activities | 15,272 | 24,195 | 42,050 | 58,372 | |||
Sale and valuation adjustments of investment securities | 349 | 136 | 1,932 | 141 | |||
Other-than-temporary impairment on investment securities | 0 | $ (209) | 0 | $ (14,445) | (209) | (14,445) | |
Trading account profit | (113) | (398) | 842 | (3,092) | |||
Net (loss) gain on sale of loans, including valuation adjustments on loans held-for-sale | 8,549 | 0 | 8,245 | 602 | |||
Adjustments (expense) to indemnity reserves on loans sold | (4,390) | (5,874) | (14,234) | (9,981) | |||
FDIC loss share (expense) income | (61,723) | 1,207 | (77,445) | 24,421 | |||
Other operating income | 18,089 | 14,768 | 46,500 | 41,808 | |||
Total non-interest income | 75,978 | 131,109 | 298,111 | 387,103 | |||
Operating expenses: | |||||||
Personnel costs | 121,224 | 120,863 | 365,023 | 358,298 | |||
Net occupancy expenses | 21,626 | 21,277 | 63,770 | 66,272 | |||
Equipment expenses | 15,922 | 14,739 | 45,731 | 44,075 | |||
Other taxes | 11,324 | 9,951 | 31,689 | 29,638 | |||
Professional fees | 81,266 | 77,154 | 237,350 | 231,131 | |||
Communications | 5,785 | 6,058 | 18,117 | 18,387 | |||
Business promotion | 12,726 | 12,325 | 37,541 | 36,914 | |||
FDIC deposit insurance | 5,854 | 7,300 | 18,586 | 22,240 | |||
Other real estate owned (O R E O) expenses | 11,295 | 7,686 | 33,416 | 75,571 | |||
Other operating expenses | 29,752 | 25,551 | 70,432 | 73,981 | |||
Amortization of intangibles | 3,097 | 3,512 | 9,308 | 8,497 | |||
Goodwill impairment charge | 3,801 | 0 | 3,801 | 0 | |||
Restructuring Costs | 0 | 481 | 0 | 17,408 | $ 45,100 | ||
Total operating expenses | 323,672 | 306,897 | 934,764 | 982,412 | |||
Income from continuing operations before income tax | 62,649 | 108,269 | 301,346 | 278,227 | |||
Income tax expense | 15,839 | 22,620 | 80,550 | (478,344) | |||
Income from continuing operations | $ 46,810 | $ 85,649 | $ 220,796 | $ 756,571 | |||
Net income from continuing operations - Basic | $ 0.44 | $ 0.82 | $ 2.11 | $ 7.33 | |||
Net income from continuing operations - Diluted | $ 0.44 | $ 0.82 | $ 2.11 | $ 7.31 | |||
Continuing Operations | Non Covered Under Loss Sharing Agreements with FDIC | |||||||
INTEREST EXPENSE: | |||||||
Provision for loan losses | $ 42,594 | $ 69,568 | $ 130,202 | $ 159,747 | |||
Continuing Operations | Covered Under Loss Sharing Agreements With FDIC Member | |||||||
INTEREST EXPENSE: | |||||||
Provision for loan losses | 750 | (2,890) | (1,551) | 23,200 | |||
Discontinued Operations | |||||||
Operating expenses: | |||||||
Income from discontinued operations, net of tax | $ 0 | $ (9) | $ 0 | $ 1,347 | |||
Net income from discontinued operations - Basic | $ 0 | $ 0 | $ 0 | $ 0.01 | |||
Net income from discontinued operations - Diluted | $ 0 | $ 0 | $ 0 | $ 0.01 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | ||
Statement of Income and Comprehensive Income | |||||
Net Income | $ 46,810 | $ 85,640 | $ 220,796 | $ 757,918 | |
Other comprehensive loss before tax: | |||||
Foreing currency translation adjustment | [1] | (325) | (31) | (2,465) | (1,704) |
Amortization of net losses | 5,488 | 5,025 | 16,461 | 15,075 | |
Amortization of prior service cost | (950) | (950) | (2,850) | (2,850) | |
Unrealized holding (losses) gains on investments arising during the period | (15,428) | 28,669 | 98,900 | 22,820 | |
Other-than-temporary impairment included in net income | 0 | 0 | 209 | 14,445 | |
Reclassification adjustment for (gains) losses included in net income (loss) | (349) | (136) | (349) | (141) | |
Unrealized net (losses) gains on cash flow hedges | (1,123) | (2,575) | (4,662) | (4,106) | |
Reclassification adjustment for net (gains) losses included in net income | 1,650 | 1,664 | 4,466 | 3,973 | |
Other comprehensive loss before tax | (11,037) | 31,666 | 109,710 | 47,512 | |
Income tax benefit (expense) | (646) | (2,441) | (10,119) | (7,446) | |
Total other comprehensive loss, net of tax | (11,683) | 29,225 | 99,591 | 40,066 | |
Comprehensive income (loss), net of tax | $ 35,127 | $ 114,865 | $ 320,387 | $ 797,984 | |
[1] | All amounts presented are net of tax. |
TAX EFFECT ALLOCATED TO EACH CO
TAX EFFECT ALLOCATED TO EACH COMPONENT OF OTHER COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Statement of Income and Comprehensive Income | ||||
Amortization of net losses | $ (2,140) | $ (1,961) | $ (6,420) | $ (5,880) |
Amortization of prior service cost | 370 | 371 | 1,110 | 1,112 |
Unrealized holding (losses) gains on investments arising during the period | 1,297 | (1,234) | (4,877) | (272) |
Other-than-temporary impairment included in net income | 0 | 0 | (42) | (2,486) |
Reclassification adjustment for (gains) losses included in net income | 33 | 27 | 33 | 28 |
Unrealized net (losses) gains on cash flow hedges | 438 | 1,004 | 1,819 | 1,601 |
Reclassification adjustment for net losses (gains) included in net income | (644) | (648) | (1,742) | (1,549) |
Income tax benefit (expense) | $ (646) | $ (2,441) | $ (10,119) | $ (7,446) |
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 | 757,918 | 757,918 | |||||
Issuance of stock | 4,177 | 1 | 4,176 | ||||
Tax windfall benefit (shortfall expense) on vesting of restricted stock | 171 | 171 | |||||
Dividends declared: | |||||||
Dividends, Common Stock, Cash | (15,534) | (15,534) | |||||
Dividends, Preferred Stock, Cash | (2,792) | (2,792) | |||||
Common stock purchases | (1,798) | (1,798) | |||||
Common stock reissuance | 46 | 46 | |||||
Other comprehensive loss, net of tax | 40,066 | 40,066 | |||||
Ending Balance at Sep. 30, 2015 | 5,049,636 | 1,037 | 50,160 | 4,200,805 | 993,309 | (5,869) | (189,806) |
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 | 220,796 | 220,796 | |||||
Issuance of stock | 5,718 | 2 | 5,716 | ||||
Tax windfall benefit (shortfall expense) on vesting of restricted stock | (30) | (30) | |||||
Dividends declared: | |||||||
Dividends, Common Stock, Cash | (46,666) | (46,666) | |||||
Dividends, Preferred Stock, Cash | (2,792) | (2,792) | |||||
Common stock purchases | (1,563) | (1,563) | |||||
Common stock reissuance | 17 | 17 | |||||
Other comprehensive loss, net of tax | 99,591 | 99,591 | |||||
Ending Balance at Sep. 30, 2016 | $ 5,380,395 | $ 1,040 | $ 50,160 | $ 4,234,842 | $ 1,259,295 | $ (7,647) | $ (157,295) |
DISCLOSURE OF CHANGES IN NUMBER
DISCLOSURE OF CHANGES IN NUMBER OF SHARES - shares | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Treasury stock | (251,785) | |
Common Stock - Outstanding | 103,762,596 | |
Common Stock | ||
Beginning balance | 103,816,185 | 103,614,553 |
Issuance of stock | 198,196 | 131,403 |
Balance at end of year | 104,014,381 | 103,745,956 |
Treasury stock | (251,785) | (189,671) |
Common Stock - Outstanding | 103,762,596 | 103,556,285 |
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 | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Cash flows from operating activities: | ||
Net Income | $ 220,796 | $ 757,918 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
Provision for loan losses | 128,651 | 182,947 |
Goodwill impairment charge | 3,801 | 0 |
Amortization of intangibles | 9,308 | 8,497 |
Depreciation and amortization of premises and equipment | 34,725 | 35,459 |
Net accretion of discounts and amortization of premiums and deferred fees | (36,753) | (58,637) |
Other-than-temporary impairment on investment securities | 209 | 14,445 |
Fair value adjustments on mortgage servicing rights | 18,879 | 5,808 |
FDIC loss share (income) expense | 77,445 | (24,421) |
Adjustments (expense) to indemnity reserves on loans sold | 14,234 | 9,981 |
Earnings from investments under the equity method | (23,812) | (17,085) |
Deferred income tax (benefit) expense | 61,918 | (496,279) |
(Gain) loss on: | ||
Disposition of premises and equipment and other productive assets | 3,603 | (2,939) |
Sale and valuation adjustments of investment securities | (1,932) | (141) |
Sale of loans, including valuation adjustments on loans held-for-sale and mortgage banking activities | (32,982) | (24,657) |
Sale of foreclosed assets, including write-downs | 13,160 | 56,391 |
Acquisitions of loans held-for-sale | (223,189) | (331,860) |
Proceeds from sale of loans held-for-sale | 58,003 | 71,296 |
Net originations on loans held-for-sale | (365,353) | (574,942) |
Net (increase) decrease in: | ||
Trading securities | 578,133 | 783,304 |
Accrued income receivable | 4,543 | 11,582 |
Other assets | (28,201) | 61,179 |
Net increase (decrease) in: | ||
Interest payable | (11,553) | (10,612) |
Pension and other postretirement benefits obligation | (56,537) | 2,567 |
Other liabilities | (5,292) | (39,053) |
Total adjustments | 221,008 | (337,170) |
Net cash provided by operating activities | 441,804 | 420,748 |
Cash flows from investing activities: | ||
Net (increase) decrease in money market investments | (1,783,402) | (586,185) |
Purchases of investment securities: | ||
Available-for-sale | (2,408,514) | (1,239,962) |
Held-to-maturity | 0 | (250) |
Other | (14,017) | (39,391) |
Proceeds from calls, paydowns, maturities and redemptions of investment securities: | ||
Available-for-sale | 951,447 | 1,152,074 |
Held-to-maturity | 4,182 | 4,428 |
Other | 11,051 | 45,497 |
Proceeds from sale of investment securities available-for-sale | 1,556 | 96,760 |
Proceeds from sale of other investment securities | 8,006 | 12,928 |
Net repayments on loans | (93,354) | 318,919 |
Proceeds from sale of loans | 134,114 | 27,780 |
Acquisition of loan portfolios | (355,507) | (173,505) |
Acquisition of trademark | 0 | (50) |
Net payments from FDIC under loss sharing agreements | 95,407 | 245,416 |
Net cash received and acquired from business combination | 0 | 731,279 |
Acquisition of servicing advances | 0 | (61,304) |
Cash paid related to business acquisitions | 0 | (17,250) |
Return of capital from equity method investments | 324 | 0 |
Mortgage servicing rights purchased | 0 | (2,400) |
Acquisition of premises and equipment | (78,297) | (41,109) |
Proceeds from sale of: | ||
Premises and equipment and other productive assets | 5,519 | 10,166 |
Foreclosed assets | 54,600 | 115,078 |
Net cash provided by investing activities | (3,466,885) | 598,919 |
Net increase (decrease) in: | ||
Deposits | 3,119,674 | (289,444) |
Federal funds purchased and assets sold under agreements to repurchase | 3,106 | (185,892) |
Other short-term borrowings | 0 | (148,215) |
Payments of notes payable | (230,608) | (719,575) |
Proceeds from issuance of notes payable | 165,047 | 263,286 |
Proceeds from issuance of common stock | 5,718 | 4,177 |
Dividends paid | (49,438) | (2,792) |
Net payments for repurchase of common stock | (1,547) | (1,752) |
Net cash used in financing activities | 3,011,952 | (1,080,207) |
Net decrease in cash and due from banks | (13,129) | (60,540) |
Cash and due from banks at beginning of period | 363,674 | 381,095 |
Cash and due from banks at end of period | $ 350,545 | $ 320,555 |
Nature of operations
Nature of operations | 9 Months Ended |
Sep. 30, 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 equ ipment leasing and financing, and insurance services through specialized subsidiaries. In the U.S. mainland, the Corporation operates Banco Popular North America (“BPNA”). BPNA focuses efforts and resources on the core community banking business. BPNA oper ates branches in New York, New Jersey and South Florida under the name of Popular Community Bank . Refer to Note 4 for discussion of the sales of the California, Illinois and Central Florida regional operations during 2014. Note 35 to the consolidat ed 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 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. Refer to Note 5 for further details on the Doral Bank T ransaction. |
Basis of presentation and summa
Basis of presentation and summary of significant accounting policies | 9 Months Ended |
Sep. 30, 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 | 9 Months Ended |
Sep. 30, 2016 | |
New Accounting Pronouncements and Changes in Accounting Principles | |
New Accounting Pronouncements | Note 3 – New accounting pronouncements Recently Issued Accounting Standards Updates FASB Accounting Standards Update (“ASU”) 2016- 17 , Consolidation (Topic 810): Interests Held through Related Parties That Are under Common Control The FASB issued ASU 2016-1 7 in October 2016, which changes how a reporting entity that is a single decision maker of a VIE treats indirect interests in the entity held through related parties that are under common control. Under the new guidance, if a decision maker is required to evaluate whether it is the primary be neficiary of a VIE, it will need to consider only its proportionate indirect interest in the VIE held through a common control party. The amendments of this Update are effective for fiscal years, and interim periods within those fiscal years, beginning af ter December 15, 2016. Early adoption is permitted, including adoption in an interim period. The Corporation is currently evaluating the impact that the adoption of this guidance will have on its consolidated financial statements. FASB Accounting Standards Update (“ASU”) 2016- 16 , Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory The FASB issued ASU 2016-1 6 in October 2016, which eliminates the exception for all intra-entity sales of assets other than inventory that requires deferral of the tax effects until the transferred asset is sold to a third part y or otherwise recovered through use. The new guidance requires a reporting entity to recognize the tax expense from the sale of the asset in the seller’s tax jurisdiction when the transfer occurs, even though the pre-tax effects of that transaction are el iminated in consolidation. Any deferred tax asset that arises in the buyer’s jurisdiction would also be recognized at the time of the transfer. The amendments of this Update are effective for fiscal years, and interim periods within those fiscal years, be ginning after December 15, 2017. Early adoption is permitted, but the guidance can only be adopted in the first interim period of a fiscal year. The modified retrospective approach will be required for transition to the new guidance, with a cumulative-effe ct adjustment recorded in retained earnings as of the beginning of the period of adoption. The Corporation is currently evaluating the impact that the adoption of this guidance will have on its consolidated statements of financial condition, results of ope rations, and presentation and disclosures. FASB Accounting Standards Update (“ASU”) 2016- 15 , Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments The FASB issued ASU 2016-1 5 in August 2016, which addresses specific cash flow issues with the objective of reducing existing diversity in practice, which may lead to a difference in the classification of transactions between operating, financing or investing activities. Among other things, the guidance p rovides an accounting policy election for classifying distributions received from equity method investees and clarifies the application of the predominance principle. The amendments of this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. Early adoption is permitted. Entities will be required to apply the guidance retrospectively to all periods presented, unless it is impracticable to do so. The Corporation does not anticipate that the adoption of this accounting pronouncement will have a material effect on its consolidated statements of cash flows. FASB Accounting Standards Update (“ASU”) 2016- 13 , Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments The FASB issued ASU 2016-13 in June 2016, which replaces the incurred loss model with a current expected credit loss (“CECL”) model. The CECL model applies to financial assets subject to credit losses and measured at amortized cost a nd certain off-balance sheet exposures. Under current U.S. GAAP, an entity reflects credit losses on financial assets measured on an amortized cost basis only when losses are probable or have been incurred, generally considering only past events and curren t conditions in making these determinations. ASU 2016-13 prospectively replaces this approach with a forward-looking methodology that reflects the expected credit losses over the lives of financial assets, starting when such assets are first acquired. Und er the revised methodology, credit losses will be measured based on past events, current conditions and reasonable and supportable forecasts that affect the collectability of financial assets. ASU 2016-13 also revises the approach to recognizing credit los ses for available-for-sale securities by replacing the direct write-down approach with the allowance approach and limiting the allowance to the amount at which the security’s fair value is less than the amortized cost. In addition, ASU 2016-13 provides tha t the initial allowance for credit losses on purchased credit impaired financial assets will be recorded as an increase to the purchase price, with subsequent changes to the allowance recorded as a credit loss expense. ASU 2016-13 also expands disclosure requirements regarding an entity’s assumptions, models and methods for estimating the allowance for credit losses. The amendments of this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted as of January 1, 2019. The Corporation is currently evaluating the impact that the adoption of this guidance will have on its consolidated statements of financial condition, results of operations, and presentation and disclosures. FASB Accounting Standards Update (“ASU”) 2016- 12 , Revenue from Co ntracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients The FASB issued ASU 2016-1 2 in May 2016 . The amendments in this update, among other things, clarify the objective of the collectability criterion, provide guidance on noncash and variable consideration, provide a practical expedient for contract modifications at transition, and clarify the meaning of a completed contract for purposes of transition. The amendments of this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. The Corporation is currently evaluating the impact that the adoption of this guidance will have on its results of operations and presentation and disclosures in its consolidated financial statements. FASB Accounting Standards Update (“ASU”) 2016- 10 , Reve nue 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 particular, 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 a re 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 combined item (or items) to which the promised goods and/or servic es are inputs. The amendments of this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. The Corporation is currently evaluating the impact that the adoption of this guidance will have on its results of operations and presentation and disclosures in its consolidated financial statements. 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 entities to elect as an accounting policy to account for forfeitures when they occur, permitting entities to withhold up to the maximum individual st atutory rate without classifying the awards as a liability, and requiring that the cash paid to satisfy the statutory income tax withholding obligation be classified as a financing activity. The amendments of this Update are effective for fiscal years, a nd 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 Standards 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 ser vices before transferring 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. The Corporation is currently evaluating the impact that the a doption 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 ): Simplifying 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 holding 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 adop tion 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 or results of operations. FASB Accounting Standards Update (“ASU”) 2016-0 6 , Derivatives 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 re lated to the debt instrument, 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 contingently 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 effec tive 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 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 i ssued 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 hedgi ng 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 within those fi scal 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 or 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 | 9 Months Ended |
Sep. 30, 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 September 30, 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 during the nine month period ended September 30, 2016. Net income from the discontinued operations amounted to $ 1.3 million for the nine months ended September 30, 2015 . Also, in connection with the sale, the Corporation has undertaken a restructuring plan (the “PCB Restructuring Plan”) which has been completed by December 31, 2015, for which the Corporation incurred restructuring charges of $45.1 million. During the ni ne month period ended September 30, 2015, the Corporation incurred $ 17.4 million in restructuring costs, mostly comprised of $12.7 million in personnel costs. The following table presents the activity in the reserve for the restructuring costs associated with the PCB Restructuring Plan: Nine months ended September 30, (In thousands) 2016 2015 Beginning balance $ 620 $ 13,536 Charges expensed during the period - 7,725 Payments made during the period (430) (20,469) Ending balance $ 190 $ 792 |
Business combination
Business combination | 9 Months Ended |
Sep. 30, 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 t he 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 FDIC on the acquired assets. The following table pr esents 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 and the nine months ended September 3 0 , 2015 as a result of the recasting was a n in crease in net income of approximately $ 0.1 million and $3.4 million, respectively, as detailed in the following table: Quarter ended September 30, 2015 Nine months ended September 30, 2015 (In thousands) As recasted As reported Difference As recasted As reported Difference Net Interest Income $ 23,927 $ 24,978 $ (1,051) $ 63,863 $ 61,910 $ 1,953 Non-Interest Income 6,745 5,912 833 18,217 17,384 833 Operating Expenses 18,809 19,078 (269) 59,714 60,341 (627) Income Before Taxes $ 11,863 $ 11,812 $ 51 $ 22,366 $ 18,953 $ 3,413 |
Restrictions on cash and due fr
Restrictions on cash and due from banks and certain securities | 9 Months Ended |
Sep. 30, 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 $ 1.2 b illion at September 30, 2016 ( December 31, 2015 - $ 1.1 b illion ) . Cash and due from banks, as well as other highly liquid securities, are used to cover the required average reserve balances. At September 30, 2016 , t he Corporation held $ 24 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 | 9 Months Ended |
Sep. 30, 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 September 30, 2016 and December 31, 2015 . At September 30, 2016 Gross Gross Weighted Amortized unrealized unrealized Fair average (In thousands) cost gains losses value yield U.S. Treasury securities Within 1 year $ 689,259 $ 2,033 $ - $ 691,292 0.99 % After 1 to 5 years 913,013 4,782 - 917,795 1.09 After 5 to 10 years 9,944 385 - 10,329 1.99 Total U.S. Treasury securities 1,612,216 7,200 - 1,619,416 1.05 Obligations of U.S. Government sponsored entities Within 1 year 100,062 298 - 100,360 0.98 After 1 to 5 years 593,257 4,616 125 597,748 1.39 After 5 to 10 years 200 1 - 201 5.64 Total obligations of U.S. Government sponsored entities 693,519 4,915 125 698,309 1.33 Obligations of Puerto Rico, States and political subdivisions After 1 to 5 years 7,210 - 34 7,176 4.19 After 5 to 10 years 5,915 6 1,287 4,634 4.02 After 10 years 18,634 8 3,476 15,166 6.99 Total obligations of Puerto Rico, States and political subdivisions 31,759 14 4,797 26,976 5.80 Collateralized mortgage obligations - federal agencies Within 1 year 69 - - 69 1.03 After 1 to 5 years 19,151 754 - 19,905 2.88 After 5 to 10 years 33,067 642 - 33,709 2.86 After 10 years 1,279,354 13,663 7,449 1,285,568 1.97 Total collateralized mortgage obligations - federal agencies 1,331,641 15,059 7,449 1,339,251 2.01 Mortgage-backed securities Within 1 year 11 - - 11 4.18 After 1 to 5 years 21,926 816 7 22,735 3.92 After 5 to 10 years 261,441 6,876 25 268,292 2.39 After 10 years 3,576,704 66,941 1,954 3,641,691 2.53 Total mortgage-backed securities 3,860,082 74,633 1,986 3,932,729 2.53 Equity securities (without contractual maturity) 1,245 960 - 2,205 8.21 Other Within 1 year 8,633 20 - 8,653 1.75 After 5 to 10 years 1,080 37 - 1,117 3.62 Total other 9,713 57 - 9,770 1.96 Total investment securities available-for-sale [1] $ 7,540,175 $ 102,838 $ 14,357 $ 7,628,656 2.03 % [1]Includes $4.2 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 $3.3 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 m aturities because they may be subject to prepayments or may be called by the issuer. During the nine months ended September 30, 2016 , the Corporation sold mortgage backed securities and equity securities available for sale. The proceeds from these sal es were $ 1.6 million. D uring the nine months ended September 30, 2015 , the Corporation sold U.S. agency securities and obligations from the Puerto Rico government and its political subdivisions . The proceeds from these sales were $ 96.8 million. The following table present the Corporation’s gross realized gains and losses on the sale of investment securities available-for-sale for the quarters and nine months ended September 30, 2016 and 2015. For the quarter ended September 30, Nine months ended September 30, (In thousands) 2016 2015 2016 2015 Gross realized gains $ 348 $ 221 $ 348 $ 226 Gross realized losses - (85) - (85) Net realized gains on sale of investment securities available-for-sale $ 348 $ 136 $ 348 $ 141 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 September 30, 2016 and December 31, 2015 . At September 30, 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 $ 24,011 $ 107 $ 1,180 $ 18 $ 25,191 $ 125 Obligations of Puerto Rico, States and political subdivisions 7,176 34 17,821 4,763 24,997 4,797 Collateralized mortgage obligations - federal agencies 112,432 241 367,488 7,208 479,920 7,449 Mortgage-backed securities 478,854 1,977 589 9 479,443 1,986 Total investment securities available-for-sale in an unrealized loss position $ 622,473 $ 2,359 $ 387,078 $ 11,998 $ 1,009,551 $ 14,357 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 September 30, 2016 , the available-for-sale investment portfolio reflects gross unrealized losses of approximately $ 14 million, driven by U.S. Agency c olla teralized mortgage obligations and O bligations 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 with 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 other-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 l ength 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 security and the likelihood of the i ssuer 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 security or whether it is more likely th an not that the Corporation would be required to sell the debt security before a forecasted recovery occurs. At September 30, 2016 , management performed its quarterly analysis of all debt securities in an unrealized loss position. Based on the analyses per formed, management concluded that no individual debt security was other-than-temporarily impaired as of such date . During the quarter ended June 30, 2016 the Corporation recognized an other-than-temporary impairment charge of $209 thousand on an investment security available-f or-sale classified as obligations from the Puerto Rico government and its political subdivisions , which at June 30, 2016 was rated Caa2 and CC by Moody’s and S&P, respectively. Puerto Rico’s fiscal and economic situation, together with, among othe r factors, the recent moratorium declared on the payment of principal and interest on obligations for certain Puerto Rico government securities, including those issued or guaranteed by the Commonwealth, led management to conclude that the unrealized losses on this security was other-than-temporary. The Corporation determined that the entire balance of the unrealized loss carried by this security was attributed to estimated credit losses. Accordingly, during the quarter ended June 30, 2016 the other-than-temporary impairment was recognized in i ts entirety in the accompanying consolidated statement of operations and no amount remained recognized in the accompanying statement of other comprehensive income related to this specific security. In the second quarter of 2015, the Corporation recognized an other-than-temporary impairment charge of $14.4 million on its portfolio of investment securities available-for-sale classified as obligations from the Puerto Rico government and its political subdivisions. At June 30, 2015 these securities were rated Caa2 and CCC- by Moody’s and S&P, respectively . 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 agg regate amortized cost of such securities exceeds 10% of stockholders’ equity. This information excludes securities backed by the full 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. September 30, 2016 December 31, 2015 (In thousands) Amortized cost Fair value Amortized cost Fair value FNMA $ 3,080,757 $ 3,118,968 $ 2,649,860 $ 2,633,899 Freddie Mac 1,324,336 1,335,953 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 September 30, 2016 and December 31, 2015 . At September 30, 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 $ 3,105 $ - $ 1,218 $ 1,887 5.92 % After 1 to 5 years 14,540 - 5,865 8,675 6.02 After 5 to 10 years 18,635 - 7,642 10,993 6.20 After 10 years 59,615 3,723 7,527 55,811 1.92 Total obligations of Puerto Rico, States and political subdivisions 95,895 3,723 22,252 77,366 3.50 Collateralized mortgage obligations - federal agencies After 5 to 10 years 78 5 - 83 5.45 Total collateralized mortgage obligations - federal agencies 78 5 - 83 5.45 Other Within 1 year 1,000 - 4 996 1.34 After 1 to 5 years 1,000 - 35 965 2.28 Total other 2,000 - 39 1,961 3.62 Total investment securities held-to-maturity [1] $ 97,973 $ 3,728 $ 22,291 $ 79,410 3.47 % [1]Includes $96.2 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 September 30, 2016 and December 31, 2015 . At September 30, 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 $ - $ - $ 30,848 $ 22,252 $ 30,848 $ 22,252 Other - - 1,211 39 1,211 39 Total investment securities held-to-maturity in an unrealized loss position $ - $ - $ 32,059 $ 22,291 $ 32,059 $ 22,291 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 September 30, 2016 are primarily associated with securities issued by municipalities of Puerto Rico and are generally not rated by a credit rating agency. This includes $ 53 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 $ 43 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 quar terly analysis performed, management concluded that no individual debt security was other-than-temporarily impaired at September 30, 2016 . Further deterioration 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 not that the Corporation will not have to sell these investment securities prior to recovery of thei r amortized cost basis. |
Loans
Loans | 9 Months Ended |
Sep. 30, 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. D uring the quarter and nine months ended September 30, 2016 , the Corporation recorded purchases (including repurchases) of mortgage loans amounting to $ 118 million and $358 million, respectively ; consumer loans of $164 million and commercial loans amounting to $51 million during the nine months ended September 30, 2016 . E xcluding the impact of the Doral Bank Transaction, during the quarter and nine months ended September 30, 2015 , the Co rporation recorded purchases (including repurchases) of mortgage loans amounting to $91 million and $495 million, respectively. Excluding the bulk sale of Westernbank loans with a carrying value of approximately $100 million , the Corporation sold commerc ial and construction loans with a carrying value of approximately $38 million and $ 39 million during the quarter and nine months ended September 30, 2016 , respectively, (during the quarter and nine months ended September 30, 2015 - $ 9 million). T he Corporation sold approximately $ 13 million and $ 53 million of residential mortgage loans (on a whole loan basis) during the quarter and nine months ended September 30, 2016 , respectively ( September 30, 2015 - $ 19 million and $ 82 million, respectively). Also, the Corporation securitized approximately $ 161 million and $ 465 million of mortgage loans into Government National Mortgage Association (“GNMA”) mortgage-backed securities during the quarter and nine months ended September 30, 2016 , respectively ( September 30, 2015 - $ 251 million and $ 651 million, respectively). Furthermore, the Corporation securitized approximately $ 50 million and $ 129 million of mortgage loans into Federal National Mortgage Association (“FNMA”) mortgage-backed securities during the quarter and nine months ended September 30, 2016 , respectively ( September 30, 2015 - $ 57 million and $ 174 million, respectively). Non-covered loan s The following table presents the composition of non-covered loans held-in-portfolio (“HIP”), net of unearned income , by past due status at September 30, 2016 and December 31, 2015 , including loans previously covered by the commercial FDIC loss sharing agreements. September 30, 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 $ 229 $ - $ 932 $ 1,161 $ 175,340 $ 176,501 Commercial real estate non-owner occupied 6,544 81,988 53,722 142,254 2,456,197 2,598,451 Commercial real estate owner occupied 10,643 5,896 126,449 142,988 1,699,209 1,842,197 Commercial and industrial 18,841 2,809 33,778 55,428 2,581,592 2,637,020 Construction - - 1,720 1,720 79,334 81,054 Mortgage 286,097 154,588 813,015 1,253,700 4,711,138 5,964,838 Leasing 6,257 2,017 2,878 11,152 671,658 682,810 Consumer: Credit cards 11,806 8,379 18,186 38,371 1,067,386 1,105,757 Home equity lines of credit 238 102 102 442 8,178 8,620 Personal 12,997 7,799 21,034 41,830 1,130,726 1,172,556 Auto 33,586 7,450 12,209 53,245 775,579 828,824 Other 554 281 17,453 18,288 159,785 178,073 Total $ 387,792 $ 271,309 $ 1,101,478 $ 1,760,579 $ 15,516,122 $ 17,276,701 September 30, 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 $ - $ - $ 207 $ 207 $ 945,991 $ 946,198 Commercial real estate non-owner occupied - - 807 807 1,225,191 1,225,998 Commercial real estate owner occupied - 1,676 1,081 2,757 234,724 237,481 Commercial and industrial 167 1,117 87,860 89,144 784,201 873,345 Construction - 22,275 - 22,275 628,023 650,298 Mortgage 1,475 4,890 14,430 20,795 788,864 809,659 Legacy 96 509 3,450 4,055 43,859 47,914 Consumer: Credit cards 28 14 82 124 149 273 Home equity lines of credit 3,016 962 4,629 8,607 254,606 263,213 Personal 2,004 1,668 1,972 5,644 258,970 264,614 Auto - - - - 12 12 Other 8 - - 8 258 266 Total $ 6,794 $ 33,111 $ 114,518 $ 154,423 $ 5,164,848 $ 5,319,271 September 30, 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 $ 229 $ - $ 1,139 $ 1,368 $ 1,121,331 $ 1,122,699 Commercial real estate non-owner occupied 6,544 81,988 54,529 143,061 3,681,388 3,824,449 Commercial real estate owner occupied 10,643 7,572 127,530 145,745 1,933,933 2,079,678 Commercial and industrial 19,008 3,926 121,638 144,572 3,365,793 3,510,365 Construction - 22,275 1,720 23,995 707,357 731,352 Mortgage 287,572 159,478 827,445 1,274,495 5,500,002 6,774,497 Leasing 6,257 2,017 2,878 11,152 671,658 682,810 Legacy [3] 96 509 3,450 4,055 43,859 47,914 Consumer: Credit cards 11,834 8,393 18,268 38,495 1,067,535 1,106,030 Home equity lines of credit 3,254 1,064 4,731 9,049 262,784 271,833 Personal 15,001 9,467 23,006 47,474 1,389,696 1,437,170 Auto 33,586 7,450 12,209 53,245 775,591 828,836 Other 562 281 17,453 18,296 160,043 178,339 Total $ 394,586 $ 304,420 $ 1,215,996 $ 1,915,002 $ 20,680,970 $ 22,595,972 [1] Non-covered loans held-in-portfolio are net of $118 million in unearned income and exclude $72 million in loans held-for-sale. [2] Includes $7.4 billion pledged to secure credit facilities and public funds that the secured parties are not permitted to sell or repledge the collateral, of which $4.6 billion were pledged at the FHLB as collateral for borrowings, $2.3 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 September 30, 2016 and December 31, 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 September 30, 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 $ 932 $ - $ 207 $ - $ 1,139 $ - Commercial real estate non-owner occupied 24,684 - 807 - 25,491 - Commercial real estate owner occupied 108,132 - 1,081 - 109,213 - Commercial and industrial 33,299 479 1,429 - 34,728 479 Mortgage [3] 331,346 399,218 14,430 - 345,776 399,218 Leasing 2,878 - - - 2,878 - Legacy - - 3,450 - 3,450 - Consumer: Credit cards - 18,186 82 - 82 18,186 Home equity lines of credit - 102 4,629 - 4,629 102 Personal 20,947 25 1,972 - 22,919 25 Auto 12,209 - - - 12,209 - Other 16,811 642 - - 16,811 642 Total [2] $ 551,238 $ 418,652 $ 28,087 $ - $ 579,325 $ 418,652 [1] Non-covered loans of $ 218 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 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 past due 90 days or more as opposed to non-performing since the principal repayment is insured. These balances include $ 174 million of residential mortgage loans in Puerto Rico insured by FHA or guaranteed by the VA that are no longer accruing interest as of September 30, 2016 . Furthermore, the Co rporation has approximately $ 72 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 September 30, 2016 a nd December 31, 2015 b y main categories. (In thousands) September 30, 2016 December 31, 2015 Commercial $ - $ 45,074 Construction - 95 Mortgage 72,076 91,831 Total loans held-for-sale $ 72,076 $ 137,000 The following table provides a breakdown of loans held-for-sale (“LHFS”) in non-performing status at September 30, 2016 and December 31, 2015 by main categories. (In thousands) September 30, 2016 December 31, 2015 Commercial $ - $ 45,074 Construction - 95 Total $ - $ 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 September 30, 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. September 30, 2016 Past due 30-59 60-89 90 days Total Covered (In thousands) days days or more past due Current loans HIP [1] Mortgage $ 29,769 $ 13,433 $ 73,193 $ 116,395 $ 454,954 $ 571,349 Consumer 958 372 1,126 2,456 14,406 16,862 Total covered loans $ 30,727 $ 13,805 $ 74,319 $ 118,851 $ 469,360 $ 588,211 [1] Includes $349 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 September 30, 2016 and December 31, 2015 . September 30, 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 $ 3,659 $ - $ 3,790 $ - Consumer 138 - 97 - Total [1] $ 3,797 $ - $ 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 September 30, 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. September 30, 2016 December 31, 2015 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 $ 1,023,047 $ 14,587 $ 1,037,634 $ 1,114,368 $ 35,393 $ 1,149,761 Commercial and industrial 78,983 - 78,983 84,765 519 85,284 Construction - 1,720 1,720 8,943 6,027 14,970 Mortgage 602,697 25,953 628,650 667,023 33,090 700,113 Consumer 19,453 1,099 20,552 23,047 1,326 24,373 Carrying amount [1] 1,724,180 43,359 1,767,539 1,898,146 76,355 1,974,501 Allowance for loan losses (62,114) (7,457) (69,571) (59,753) (3,810) (63,563) Carrying amount, net of allowance $ 1,662,066 $ 35,902 $ 1,697,968 $ 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 $578 million as of September 30, 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 $ 2.2 billion at September 30, 2016 (December 31, 2015 - $ 2.4 billion). At September 30, 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 and nine months ended September 30, 2016 and 2015 , w ere as follows: Activity in the accretable yield Westernbank loans ASC 310-30 For the quarters ended September 30, 2016 September 30, 2015 Non-credit Credit Non-credit Credit (In thousands) impaired loans impaired loans Total impaired loans impaired loans Total Beginning balance $ 1,061,971 $ 9,709 $ 1,071,680 $ 1,239,776 $ 6,148 $ 1,245,924 Accretion (38,597) (993) (39,590) (44,568) (2,125) (46,693) Change in expected cash flows 6,992 (390) 6,602 (56,526) 2,744 (53,782) Ending balance $ 1,030,366 $ 8,326 $ 1,038,692 $ 1,138,682 $ 6,767 $ 1,145,449 Activity in the accretable yield Westernbank loans ASC 310-30 For the nine months ended September 30, 2016 September 30, 2015 Non-credit Credit Non-credit Credit impaired impaired impaired impaired (In thousands) loans loans Total loans loans Total Beginning balance $ 1,105,732 $ 6,726 $ 1,112,458 $ 1,265,752 $ 5,585 $ 1,271,337 Accretion (125,734) (5,865) (131,599) (148,572) (7,812) (156,384) Change in expected cash flows 50,368 7,465 57,833 21,502 8,994 30,496 Ending balance $ 1,030,366 $ 8,326 $ 1,038,692 $ 1,138,682 $ 6,767 $ 1,145,449 Carrying amount of Westernbank loans accounted for pursuant to ASC 310-30 For the quarters ended September 30, 2016 September 30, 2015 Non-credit Credit Non-credit Credit (In thousands) impaired loans impaired loans Total impaired loans impaired loans Total Beginning balance $ 1,754,613 $ 45,330 $ 1,799,943 $ 2,022,493 $ 114,585 $ 2,137,078 Accretion 38,597 993 39,590 44,568 2,125 46,693 Collections / loan sales / charge-offs (69,030) (2,964) (71,994) (94,320) (13,439) (107,759) Ending balance [1] $ 1,724,180 $ 43,359 $ 1,767,539 $ 1,972,741 $ 103,271 $ 2,076,012 Allowance for loan losses ASC 310-30 Westernbank loans (62,114) (7,457) (69,571) (54,027) (10,556) (64,583) Ending balance, net of ALLL $ 1,662,066 $ 35,902 $ 1,697,968 $ 1,918,714 $ 92,715 $ 2,011,429 [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 $ 578 million as of September 30, 2016 (September 30, 2015- $655 million). Carrying amount of Westernbank loans accounted for pursuant to ASC 310-30 For the nine months ended September 30, 2016 September 30, 2015 Non-credit Credit Non-credit Credit impaired impaired impaired impaired (In thousands) loans loans Total loans loans Total Beginning balance $ 1,898,146 $ 76,355 $ 1,974,501 $ 2,272,142 $ 172,030 $ 2,444,172 Accretion 125,734 5,865 131,599 148,572 7,812 156,384 Collections / loan sales / charge-offs [1] (299,700) (38,861) (338,561) (447,973) (76,571) (524,544) Ending balance [2] $ 1,724,180 $ 43,359 $ 1,767,539 $ 1,972,741 $ 103,271 $ 2,076,012 Allowance for loan losses ASC 310-30 Westernbank loans (62,114) (7,457) (69,571) (54,027) (10,556) (64,583) Ending balance, net of ALLL $ 1,662,066 $ 35,902 $ 1,697,968 $ 1,918,714 $ 92,715 $ 2,011,429 [1] For the nine months ended September 30, 2016, includes the impact of the bulk sale of loans with a carrying value of approximately $99 million. [2] 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 $578 million as of September 30, 2016 (September 30, 2015- $655 million). 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 $ 707 m illion at September 30, 2016 (December 31, 2015 - $710 million). At September 30, 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 and nine months ended September 30, 2016 and 2015 were as follows: Activity in the accretable yield - other acquired loans ASC 310-30 For the quarter ended For the quarter ended (In thousands) September 30, 2016 September 30, 2015 Beginning balance $ 272,609 $ 162,159 Additions 3,809 25,978 Accretion (8,689) (4,543) Change in expected cash flows 8,672 1,402 Ending balance $ 276,401 $ 184,996 Activity in the accretable yield - other acquired loans ASC 310-30 For the nine months ended For the nine months ended (In thousands) September 30, 2016 September 30, 2015 Beginning balance $ 221,128 $ 116,304 Additions 12,320 82,046 Accretion (25,974) (12,399) Change in expected cash flows 68,927 (955) Ending balance $ 276,401 $ 184,996 Carrying amount of other acquired loans accounted for pursuant to ASC 310-30 For the quarter ended For the quarter ended (In thousands) September 30, 2016 September 30, 2015 Beginning balance $ 562,745 368,287 Additions 8,349 281,911 Accretion 8,689 4,543 Collections and charge-offs (17,861) (13,655) Ending balance $ 561,922 $ 641,086 Allowance for loan losses ASC 310-30 other acquired loans (18,550) (18,561) Ending balance, net of ALLL $ 543,372 $ 622,525 Carrying amount of other acquired loans accounted for pursuant to ASC 310-30 For the nine months ended For the nine months ended (In thousands) September 30, 2016 September 30, 2015 Beginning balance $ 564,050 $ 212,763 Purchase accounting adjustments related to the Doral Bank Transaction (Refer to Note 5) (4,707) - Additions 26,754 456,091 Accretion 25,974 12,399 Collections and charge-offs (50,149) (40,167) Ending balance $ 561,922 $ 641,086 Allowance for loan losses ASC 310-30 other acquired loans (18,550) (18,561) Ending balance, net of ALLL $ 543,372 $ 622,525 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 | 9 Months Ended |
Sep. 30, 2016 | |
Receivables | |
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 methodology. Loan losses are charged and recoveries a re 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 loan impairment guidance in ASC Section 310-10-35. Al so, 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 provi des 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 rates, which are based on the moving average of ann ualized 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 e ntity. 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 is to allow for a more recent loss trend to be capt ured and reflected in the ALLL estimation process. For the period ended September 30, 2016 , 49 % ( September 30, 2015 - 18 %) of the ALLL for non-covered BPPR 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 mainly concentrated in the leasing, auto, revolving and mortgage loan portfolios for 2016, and in the commercial multi-family, commercial and industrial, person al and auto loan portfolios for 2015. For the period ended September 30, 2016 , 4 % ( September 30, 2015 - 17 %) 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 commercial and industrial loan portfolios 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 envir onmental factors on each loan 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 quantify the effect on the general reserve of the allowance for loan losses. During the third quarter of 2016, management completed the annual review of the components of the ALLL models. As part of this review management updated core metrics related to the estimation process for evaluating the adequacy of the general reserve of the allowance for loan losses. These updates to the ALLL models , which are described in the paragraph below, were implemented as of September 30, 20 16 and resulted in a net increase to the allowance for loan losses of $ 9.4 million for the non-covered portfolio. The effect of the aforementioned updates was immaterial for the covered loans portfolio. Management made the following revisions to the ALLL models during the third quarter of 2016: Annual review and recalibration of the environmental factors adjustment. The environmental factor adjustments are developed by performing regression analyses on selected credit and economic indicators for each appl icable loan segment. During the third quarter of 2016, the environmental factor models used to account for changes in current credit and macroeconomic conditions were reviewed and recalibrated based on the latest applicable trends. The effect of the rec alibration to the environmental factors adjustment resulted in an increase to the allowance for loan losses of $9.4 million at September 30, 2016, related to the non-covered BPPR segment. The effect of the recalibration was immaterial for the BPNA segment. 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 impairment for the quarters and nine months ended September 30, 2016 and 2015 . For the quarter ended September 30, 2016 Puerto Rico - Non-covered loans (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses: Beginning balance $ 199,827 $ 3,605 $ 136,724 $ 10,094 $ 130,471 $ 480,721 Provision (reversal of provision) 13,746 (605) 13,841 (1,363) 10,662 36,281 Charge-offs (13,799) (951) (16,002) (1,429) (25,470) (57,651) Recoveries 10,600 65 765 613 12,649 24,692 Ending balance $ 210,374 $ 2,114 $ 135,328 $ 7,915 $ 128,312 $ 484,043 Specific ALLL $ 58,527 $ - $ 43,567 $ 540 $ 23,708 $ 126,342 General ALLL $ 151,847 $ 2,114 $ 91,761 $ 7,375 $ 104,604 $ 357,701 Loans held-in-portfolio: Impaired non-covered loans $ 328,868 $ - $ 487,972 $ 1,899 $ 108,341 $ 927,080 Non-covered loans held-in-portfolio excluding impaired loans 6,925,290 81,054 5,476,876 680,911 3,185,490 16,349,621 Total non-covered loans held-in-portfolio $ 7,254,158 $ 81,054 $ 5,964,848 $ 682,810 $ 3,293,831 $ 17,276,701 For the quarter ended September 30, 2016 Puerto Rico - Covered loans (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses: Beginning balance $ - $ - $ 29,951 $ - $ 630 $ 30,581 Provision (reversal of provision) - - 845 - (95) 750 Charge-offs - - (973) - (411) (1,384) Recoveries - - 312 - 3 315 Ending balance $ - $ - $ 30,135 $ - $ 127 $ 30,262 Specific ALLL $ - $ - $ - $ - $ - $ - General ALLL $ - $ - $ 30,135 $ - $ 127 $ 30,262 Loans held-in-portfolio: Impaired covered loans $ - $ - $ - $ - $ - $ - Covered loans held-in-portfolio excluding impaired loans - - 571,349 - 16,862 588,211 Total covered loans held-in-portfolio $ - $ - $ 571,349 $ - $ 16,862 $ 588,211 For the quarter ended September 30, 2016 U.S. Mainland (In thousands) Commercial Construction Mortgage Legacy Consumer Total Allowance for credit losses: Beginning balance $ 9,854 $ 7,460 $ 4,762 $ 1,852 $ 13,490 $ 37,418 Provision (reversal of provision) 2,765 368 1,380 (690) 2,490 6,313 Charge-offs (155) - (2,022) (145) (2,884) (5,206) Recoveries 1,328 - 80 665 952 3,025 Ending balance $ 13,792 $ 7,828 $ 4,200 $ 1,682 $ 14,048 $ 41,550 Specific ALLL $ - $ - $ 1,990 $ - $ 725 $ 2,715 General ALLL $ 13,792 $ 7,828 $ 2,210 $ 1,682 $ 13,323 $ 38,835 Loans held-in-portfolio: Impaired loans $ - $ - $ 8,896 $ - $ 2,588 $ 11,484 Loans held-in-portfolio excluding impaired loans 3,283,022 650,298 800,763 47,914 525,790 5,307,787 Total loans held-in-portfolio $ 3,283,022 $ 650,298 $ 809,659 $ 47,914 $ 528,378 $ 5,319,271 For the quarter ended September 30, 2016 Popular, Inc. (In thousands) Commercial Construction Mortgage Legacy Leasing Consumer Total Allowance for credit losses: Beginning balance $ 209,681 $ 11,065 $ 171,437 $ 1,852 $ 10,094 $ 144,591 $ 548,720 Provision (reversal of provision) 16,511 (237) 16,066 (690) (1,363) 13,057 43,344 Charge-offs (13,954) (951) (18,997) (145) (1,429) (28,765) (64,241) Recoveries 11,928 65 1,157 665 613 13,604 28,032 Ending balance $ 224,166 $ 9,942 $ 169,663 $ 1,682 $ 7,915 $ 142,487 $ 555,855 Specific ALLL $ 58,527 $ - $ 45,557 $ - $ 540 $ 24,433 $ 129,057 General ALLL $ 165,639 $ 9,942 $ 124,106 $ 1,682 $ 7,375 $ 118,054 $ 426,798 Loans held-in-portfolio: Impaired loans $ 328,868 $ - $ 496,868 $ - $ 1,899 $ 110,929 $ 938,564 Loans held-in-portfolio excluding impaired loans 10,208,312 731,352 6,848,988 47,914 680,911 3,728,142 22,245,619 Total loans held-in-portfolio $ 10,537,180 $ 731,352 $ 7,345,856 $ 47,914 $ 682,810 $ 3,839,071 $ 23,184,183 For the nine months ended September 30, 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) 30,630 (5,786) 50,398 (190) 43,451 118,503 Charge-offs (47,256) (3,026) (45,924) (4,435) (78,860) (179,501) Recoveries 35,706 5,055 2,527 1,547 24,838 69,673 Net recoveries 4,369 914 - - 162 5,445 Ending balance $ 210,374 $ 2,114 $ 135,328 $ 7,915 $ 128,312 $ 484,043 Specific ALLL $ 58,527 $ - $ 43,567 $ 540 $ 23,708 $ 126,342 General ALLL $ 151,847 $ 2,114 $ 91,761 $ 7,375 $ 104,604 $ 357,701 Loans held-in-portfolio: Impaired non-covered loans $ 328,868 $ - $ 487,972 $ 1,899 $ 108,341 $ 927,080 Non-covered loans held-in-portfolio excluding impaired loans 6,925,290 81,054 5,476,876 680,911 3,185,490 16,349,621 Total non-covered loans held-in-portfolio $ 7,254,158 $ 81,054 $ 5,964,848 $ 682,810 $ 3,293,831 $ 17,276,701 For the nine months ended September 30, 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) - - (1,476) - (75) (1,551) Charge-offs - - (3,078) - (17) (3,095) Recoveries - - 722 - 10 732 Ending balance $ - $ - $ 30,135 $ - $ 127 $ 30,262 Specific ALLL $ - $ - $ - $ - $ - $ - General ALLL $ - $ - $ 30,135 $ - $ 127 $ 30,262 Loans held-in-portfolio: Impaired covered loans $ - $ - $ - $ - $ - $ - Covered loans held-in-portfolio excluding impaired loans - - 571,349 - 16,862 588,211 Total covered loans held-in-portfolio $ - $ - $ 571,349 $ - $ 16,862 $ 588,211 For the nine months ended September 30, 2016 U.S. Mainland - Continuing Operations (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) 1,651 3,916 1,403 (2,665) 7,394 11,699 Charge-offs (1,040) - (2,595) (388) (8,194) (12,217) Recoveries 3,273 - 407 2,048 3,328 9,056 Ending balance $ 13,792 $ 7,828 $ 4,200 $ 1,682 $ 14,048 $ 41,550 Specific ALLL $ - $ - $ 1,990 $ - $ 725 $ 2,715 General ALLL $ 13,792 $ 7,828 $ 2,210 $ 1,682 $ 13,323 $ 38,835 Loans held-in-portfolio: Impaired loans $ - $ - $ 8,896 $ - $ 2,588 $ 11,484 Loans held-in-portfolio excluding impaired loans 3,283,022 650,298 800,763 47,914 525,790 5,307,787 Total loans held-in-portfolio $ 3,283,022 $ 650,298 $ 809,659 $ 47,914 $ 528,378 $ 5,319,271 For the nine months ended September 30, 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) 32,281 (1,870) 50,325 (2,665) (190) 50,770 128,651 Charge-offs (48,296) (3,026) (51,597) (388) (4,435) (87,071) (194,813) Recoveries 38,979 5,055 3,656 2,048 1,547 28,176 79,461 Net recoveries 4,369 914 - - - 162 5,445 Ending balance $ 224,166 $ 9,942 $ 169,663 $ 1,682 $ 7,915 $ 142,487 $ 555,855 Specific ALLL $ 58,527 $ - $ 45,557 $ - $ 540 $ 24,433 $ 129,057 General ALLL $ 165,639 $ 9,942 $ 124,106 $ 1,682 $ 7,375 $ 118,054 $ 426,798 Loans held-in-portfolio: Impaired loans $ 328,868 $ - $ 496,868 $ - $ 1,899 $ 110,929 $ 938,564 Loans held-in-portfolio excluding impaired loans 10,208,312 731,352 6,848,988 47,914 680,911 3,728,142 22,245,619 Total loans held-in-portfolio $ 10,537,180 $ 731,352 $ 7,345,856 $ 47,914 $ 682,810 $ 3,839,071 $ 23,184,183 For the quarter ended September 30, 2015 Puerto Rico - Non-covered loans (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses: Beginning balance $ 207,095 $ 6,558 $ 126,177 $ 9,160 $ 133,710 $ 482,700 Provision (reversal of provision) 23,044 2,375 19,412 825 23,099 68,755 Charge-offs (16,845) (451) (16,263) (1,485) (29,625) (64,669) Recoveries 7,673 3,099 739 591 5,322 17,424 Ending balance $ 220,967 $ 11,581 $ 130,065 $ 9,091 $ 132,506 $ 504,210 Specific ALLL $ 83,615 $ 358 $ 46,956 $ 634 $ 24,221 $ 155,784 General ALLL $ 137,352 $ 11,223 $ 83,109 $ 8,457 $ 108,285 $ 348,426 Loans held-in-portfolio: Impaired non-covered loans $ 391,066 $ 2,536 $ 457,631 $ 2,645 $ 111,683 $ 965,561 Non-covered loans held-in-portfolio excluding impaired loans 7,130,678 106,142 5,762,764 604,282 3,249,213 16,853,079 Total non-covered loans held-in-portfolio $ 7,521,744 $ 108,678 $ 6,220,395 $ 606,927 $ 3,360,896 $ 17,818,640 For the quarter ended September 30, 2015 Puerto Rico - Covered Loans (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses: Beginning balance $ - $ - $ 37,815 $ - $ 259 $ 38,074 Provision (reversal of provision) - - (2,880) - (10) (2,890) Charge-offs - - (790) - (76) (866) Recoveries - - 189 - 2 191 Ending balance $ - $ - $ 34,334 $ - $ 175 $ 34,509 Specific ALLL $ - $ - $ - $ - $ - $ - General ALLL $ - $ - $ 34,334 $ - $ 175 $ 34,509 Loans held-in-portfolio: Impaired covered loans $ - $ - $ - $ - $ - $ - Covered loans held-in-portfolio excluding impaired loans - - 645,663 - 19,765 665,428 Total covered loans held-in-portfolio $ - $ - $ 645,663 $ - $ 19,765 $ 665,428 For the quarter ended September 30, 2015 U.S. Mainland - Continuing Operations (In thousands) Commercial Construction Mortgage Legacy Consumer Total Allowance for credit losses: Beginning balance $ 8,625 $ 2,429 $ 3,770 $ 3,315 $ 11,900 $ 30,039 Provision (reversal of provision) (1,090) 741 1,452 (1,113) 823 813 Charge-offs (308) - (768) (804) (1,826) (3,706) Recoveries 2,267 - (19) 1,407 994 4,649 Ending balance $ 9,494 $ 3,170 $ 4,435 $ 2,805 $ 11,891 $ 31,795 Specific ALLL $ - $ - $ 589 $ - $ 475 $ 1,064 General ALLL $ 9,494 $ 3,170 $ 3,846 $ 2,805 $ 11,416 $ 30,731 Loans held-in-portfolio: Impaired loans $ - $ - $ 5,175 $ 1,188 $ 2,182 $ 8,545 Loans held-in-portfolio excluding impaired loans 2,608,680 583,814 939,909 66,786 471,692 4,670,881 Total loans held-in-portfolio $ 2,608,680 $ 583,814 $ 945,084 $ 67,974 $ 473,874 $ 4,679,426 For the quarter ended September 30, 2015 Popular, Inc. (In thousands) Commercial Construction Mortgage Legacy Leasing Consumer Total Allowance for credit losses: Beginning balance $ 215,720 $ 8,987 $ 167,762 $ 3,315 $ 9,160 $ 145,869 $ 550,813 Provision (reversal of provision) 21,954 3,116 17,984 (1,113) 825 23,912 66,678 Charge-offs (17,153) (451) (17,821) (804) (1,485) (31,527) (69,241) Recoveries 9,940 3,099 909 1,407 591 6,318 22,264 Ending balance $ 230,461 $ 14,751 $ 168,834 $ 2,805 $ 9,091 $ 144,572 $ 570,514 Specific ALLL $ 83,615 $ 358 $ 47,545 $ - $ 634 $ 24,696 $ 156,848 General ALLL $ 146,846 $ 14,393 $ 121,289 $ 2,805 $ 8,457 $ 119,876 $ 413,666 Loans held-in-portfolio: Impaired loans $ 391,066 $ 2,536 $ 462,806 $ 1,188 $ 2,645 $ 113,865 $ 974,106 Loans held-in-portfolio excluding impaired loans 9,739,358 689,956 7,348,336 66,786 604,282 3,740,670 22,189,388 Total loans held-in-portfolio $ 10,130,424 $ 692,492 $ 7,811,142 $ 67,974 $ 606,927 $ 3,854,535 $ 23,163,494 For the nine months ended September 30, 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) 71,954 822 45,359 4,596 38,466 161,197 Charge-offs (49,740) (2,645) (38,597) (4,415) (83,507) (178,904) Recoveries 18,707 6,497 1,861 1,779 20,897 49,741 Net write-downs related to transferred to held-for-sale (29,996) - - - - (29,996) Allowance transferred from covered loans 8,453 1,424 582 - 2,578 13,037 Ending balance $ 220,967 $ 11,581 $ 130,065 $ 9,091 $ 132,506 $ 504,210 Specific ALLL $ 83,615 $ 358 $ 46,956 $ 634 $ 24,221 $ 155,784 General ALLL $ 137,352 $ 11,223 $ 83,109 $ 8,457 $ 108,285 $ 348,426 Loans held-in-portfolio: Impaired non-covered loans $ 391,066 $ 2,536 $ 457,631 $ 2,645 $ 111,683 $ 965,561 Non-covered loans held-in-portfolio excluding impaired loans 7,130,678 106,142 5,762,764 604,282 3,249,213 16,853,079 Total non-covered loans held-in-portfolio $ 7,521,744 $ 108,678 $ 6,220,395 $ 606,927 $ 3,360,896 $ 17,818,640 For the nine months ended September 30, 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) 10,115 15,150 (1,812) - (253) 23,200 Charge-offs (37,936) (25,086) (4,695) - (843) (68,560) Recoveries 6,504 4,700 635 - 817 12,656 Net write-down related to loans transferred to held-for-sale (1,101) (542) (160) - (20) (1,823) Allowance transferred to non-covered loans (8,453) (1,424) (582) - (2,578) (13,037) Ending balance $ - $ - $ 34,334 $ - $ 175 $ 34,509 Specific ALLL $ - $ - $ - $ - $ - $ - General ALLL $ - $ - $ 34,334 $ - $ 175 $ 34,509 Loans held-in-portfolio: Impaired covered loans $ - $ - $ - $ - $ - $ - Covered loans held-in-portfolio excluding impaired loans - - 645,663 - 19,765 665,428 Total covered loans held-in-portfolio $ - $ - $ 645,663 $ - $ 19,765 $ 665,428 For the nine months ended September 30, 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) (3,471) 1,983 (2,439) (2,540) 5,017 (1,450) Charge-offs (1,190) - (1,329) (1,758) (7,318) (11,595) Recoveries 4,507 - 212 4,159 3,250 12,128 Net (write-down) recovery related to loans transferred to held-for-sale - - 5,529 - (3,401) 2,128 Ending balance $ 9,494 $ 3,170 $ 4,435 $ 2,805 $ 11,891 $ 31,795 Specific ALLL $ - $ - $ 589 $ - $ 475 $ 1,064 General ALLL $ 9,494 $ 3,170 $ 3,846 $ 2,805 $ 11,416 $ 30,731 Loans held-in-portfolio: Impaired loans $ - $ - $ 5,175 $ 1,188 $ 2,182 $ 8,545 Loans held-in-portfolio excluding impaired loans 2,608,680 583,814 939,909 66,786 471,692 4,670,881 Total loans held-in-portfolio $ 2,608,680 $ 583,814 $ 945,084 $ 67,974 $ 473,874 $ 4,679,426 For the nine months ended September 30, 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) 78,598 17,955 41,108 (2,540) 4,596 43,230 182,947 Charge-offs (88,866) (27,731) (44,621) (1,758) (4,415) (91,668) (259,059) Recoveries 29,718 11,197 2,708 4,159 1,779 24,964 74,525 Net write-down related to loans transferred to held-for-sale (31,097) (542) 5,369 - - (3,421) (29,691) Ending balance $ 230,461 $ 14,751 $ 168,834 $ 2,805 $ 9,091 $ 144,572 $ 570,514 Specific ALLL $ 83,615 $ 358 $ 47,545 $ - $ 634 $ 24,696 $ 156,848 General ALLL $ 146,846 $ 14,393 $ 121,289 $ 2,805 $ 8,457 $ 119,876 $ 413,666 Loans held-in-portfolio: Impaired loans $ 391,066 $ 2,536 $ 462,806 $ 1,188 $ 2,645 $ 113,865 $ 974,106 Loans held-in-portfolio excluding impaired loans 9,739,358 689,956 7,348,336 66,786 604,282 3,740,670 22,189,388 Total loans held-in-portfolio $ 10,130,424 $ 692,492 $ 7,811,142 $ 67,974 $ 606,927 $ 3,854,535 $ 23,163,494 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 For the quarters ended For the nine months ended (In thousands) September 30, 2016 September 30, 2015 September 30, 2016 September 30, 2015 Balance at beginning of period $ 66,995 $ 47,049 $ 63,563 $ 78,846 Provision (reversal of provision) 6,710 17,201 2,640 38,071 Net recoveries (charge-offs) (4,134) 333 3,368 (52,334) Balance at end of period $ 69,571 $ 64,583 $ 69,571 $ 64,583 Impaired loans The following tables prese nt loans individually evaluated for impairment at September 30, 2016 and December 31, 2015 . September 30, 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 multi-family $ 85 $ 85 $ 46 $ - $ - $ 85 $ 85 $ 46 Commercial real estate non-owner occupied 110,625 115,037 36,192 11,063 20,294 121,688 135,331 36,192 Commercial real estate owner occupied 134,733 171,882 16,239 17,837 27,259 152,570 199,141 16,239 Commercial and industrial 46,710 47,996 6,050 7,815 11,466 54,525 59,462 6,050 Mortgage 431,074 473,535 43,567 56,898 67,478 487,972 541,013 43,567 Leasing 1,899 1,899 540 - - 1,899 1,899 540 Consumer: Credit cards 38,485 38,485 5,862 - - 38,485 38,485 5,862 Personal 66,704 66,704 17,201 - - 66,704 66,704 17,201 Auto 2,122 2,122 356 - - 2,122 2,122 356 Other 1,030 1,030 289 - - 1,030 1,030 289 Total Puerto Rico $ 833,467 $ 918,775 $ 126,342 $ 93,613 $ 126,497 $ 927,080 $ 1,045,272 $ 126,342 September 30, 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 $ 6,361 $ 7,309 $ 1,990 $ 2,535 $ 2,535 $ 8,896 $ 9,844 $ 1,990 Consumer: HELOCs 1,879 1,879 464 - - 1,879 1,879 464 Personal 709 709 261 - - 709 709 261 Total U.S. mainland $ 8,949 $ 9,897 $ 2,715 $ 2,535 $ 2,535 $ 11,484 $ 12,432 $ 2,715 September 30, 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 multi-family $ 85 $ 85 $ 46 $ - $ - $ 85 $ 85 $ 46 Commercial real estate non-owner occupied 110,625 115,037 36,192 11,063 20,294 121,688 135,331 36,192 Commercial real estate owner occupied 134,733 171,882 16,239 17,837 27,259 152,570 199,141 16,239 Commercial and industrial 46,710 47,996 6,050 7,815 11,466 54,525 59,462 6,050 Mortgage 437,435 480,844 45,557 59,433 70,013 496,868 550,857 45,557 Leasing 1,899 1,899 540 - - 1,899 1,899 540 Consumer: Credit Cards 38,485 38,485 5,862 - - 38,485 38,485 5,862 HELOCs 1,879 1,879 464 - - 1,879 1,879 464 Personal 67,413 67,413 17,462 - - 67,413 67,413 17,462 Auto 2,122 2,122 356 - - 2,122 2,122 356 Other 1,030 1,030 289 - - 1,030 1,030 289 Total Popular, Inc. $ 842,416 $ 928,672 $ 129,057 $ 96,148 $ 129,032 $ 938,564 $ 1,057,704 $ 129,057 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 table s present the average recorded investment and interest income recognized on impaired loans for the quarter and nine months ended September 30, 2016 and 2015 . For the quarter ended September 30, 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 multi-family $ 43 $ 1 $ - $ - $ 43 $ 1 Commercial real estate non-owner occupied 140,083 1,345 - - 140,083 1,345 Commercial real estate owner occupied 136,565 1,408 - - 136,565 1,408 Commercial and industrial 55,685 483 - - 55,685 483 Construction 518 - - - 518 - Mortgage 482,067 3,538 8,730 68 490,797 3,606 Leasing 2,005 - - - 2,005 - Consumer: Credit cards 38,431 - - - 38,431 - Helocs - - 1,883 - 1,883 - Personal 67,077 - 651 - 67,728 - Auto 2,501 - - - 2,501 - Other 728 - - - 728 - Total Popular, Inc. $ 925,703 $ 6,775 $ 11,264 $ 68 $ 936,967 $ 6,843 For the quarter ended September 30, 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 $ 1,239 $ 23 $ - $ - $ 1,239 $ 23 Commercial real estate non-owner occupied 121,842 1,191 - - 121,842 1,191 Commercial real estate owner occupied 140,054 1,094 - - 140,054 1,094 Commercial and industrial 101,187 978 - - 101,187 978 Construction 3,082 - - - 3,082 - Mortgage 454,210 3,446 5,110 34 459,320 3,480 Legacy - - 1,273 - 1,273 - Leasing 2,600 - - - 2,600 - Consumer: Credit cards 39,893 - - - 39,893 - Helocs - - 1,608 - 1,608 - Personal 69,619 - 555 - 70,174 - Auto 2,083 - - - 2,083 - Other 614 - - - 614 - Total Popular, Inc. $ 936,423 $ 6,732 $ 8,546 $ 34 $ 944,969 $ 6,766 For the nine months ended September 30, 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 multi-family $ 21 $ 4 $ - $ - $ 21 $ 4 Commercial real estate non-owner occupied 129,372 3,971 - - 129,372 3,971 Commercial real estate owner occupied 147,305 4,349 - - 147,305 4,349 Commercial and industrial 58,518 1,466 - - 58,518 1,466 Construction 1,384 - - - 1,384 - Mortgage 475,108 10,311 8,046 133 483,154 10,444 Leasing 2,201 - - - 2,201 - Consumer: Credit cards 38,344 - - - 38,344 - HELOCs - - 1,741 - 1,741 - Personal 67,624 - 632 - 68,256 - Auto 2,689 - - - 2,689 - Other 606 - - - 606 - Total Popular, Inc. $ 923,172 $ 20,101 $ 10,419 $ 133 $ 933,591 $ 20,234 For the nine months ended September 30, 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 $ 757 $ 23 $ - $ - $ 757 $ 23 Commercial real estate non-owner occupied 105,308 3,339 - - 105,308 3,339 Commercial real estate owner occupied 134,011 3,591 - - 134,011 3,591 Commercial and industrial 135,657 3,155 63 - 135,720 3,155 Construction 7,317 - - - 7,317 - Mortgage 446,374 12,010 4,895 63 451,269 12,073 Legacy - - 636 - 636 - Leasing 2,787 - - - 2,787 - Consumer: Credit cards 40,615 - - - 40,615 - HELOCs - - 1,685 - 1,685 - Personal 70,430 - 380 - 70,810 - Auto 2,033 - - - 2,033 - Other 570 - 22 - 592 - Covered loans 4,409 253 - - 4,409 253 Total Popular, Inc. $ 950,268 $ 22,371 $ 7,681 $ 63 $ 957,949 $ 22,434 Modifications Troubled debt restructurings related to non-covered loan portfolios amounted to $ 1.2 billion at September 30, 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 $ 8 million related to the commercial loan portfolio at September 30, 2016 (December 31, 2015 - $ 11 million). At September 30, 2016 , the mortgage loan TDRs include $395 million guaranteed by U.S. sponsored entities at BPPR, this compares with $359 million at December 31, 2015. A modification of a loan constitutes 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 policies 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 and the related allowance at September 30, 2016 and December 31, 2015 . Popular, Inc. Non-Covered Loans September 30, 2016 December 31, 2015 (In thousands) Accruing Non-Accruing Total Related Allowance Accruing Non-Accruing Total Related Allowance Commercial $ 163,381 $ 84,872 $ 248,253 $ 56,444 $ 166,415 $ 88,117 $ 254,532 $ 37,355 Construction - - - - 221 2,259 2,480 264 Mortgage 722,450 122,225 844,675 45,557 644,013 130,483 774,496 44,029 Leases 1,296 603 1,899 540 1,791 609 2,400 573 Consumer 101,476 12,818 114,294 24,433 104,630 12,805 117,435 23,963 Total $ 988,603 $ 220,518 $ 1,209,121 $ 126,974 $ 917,070 $ 234,273 $ 1,151,343 $ 106,184 Popular, Inc. Covered Loans September 30, 2016 December 31, 2015 (In thousands) Accruing Non-Accruing Total Related Allowance Accruing Non-Accruing Total Related Allowance Mortgage $ 3,033 $ 2,336 $ 5,369 $ - $ 3,328 $ 3,268 $ 6,596 $ - Total $ 3,033 $ 2,336 $ 5,369 $ - $ 3,328 $ 3,268 $ 6,596 $ - T he following tables present the loan count by type of modification for those loans modified in a TDR during the quarters and nine months ended September 30, 2016 and 2015 . Puerto Rico For the quarter ended September 30, 2016 For the nine months ended September 30, 2016 Reduction in interest rate Extension of maturity date Combination of reduction in interest rate and extension of maturity date Other 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 3 - - - 5 1 - - Commercial real estate owner occupied 9 - - - 38 5 - - Commercial and industrial 8 - - - 22 1 - - Mortgage 17 22 129 43 55 56 353 132 Leasing - 1 - - - 1 - - Consumer: Credit cards 218 - 1 158 603 - 1 531 Personal 241 4 - - 761 14 - 1 Auto - 4 4 2 - 11 8 2 Other 6 - - - 27 - - - Total 502 31 134 203 1,511 89 362 666 U.S. Mainland For the quarter ended September 30, 2016 For the |
FDIC loss share asset and true
FDIC loss share asset and true up payment obligation | 9 Months Ended |
Sep. 30, 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 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 following table sets forth the activity in the FDIC loss-share asset for the period s presented. Quarters ended September 30, Nine months ended September 30, (In thousands) 2016 2015 2016 2015 Balance at beginning of period $ 214,029 $ 392,947 $ 310,221 $ 542,454 Amortization of loss-share indemnification asset (1,259) (3,931) (9,337) (62,312) Credit impairment losses (reversal) to be covered under loss-sharing agreements 659 (183) (959) 15,710 Reimbursable expenses 853 6,276 7,038 70,551 Recoveries reimbursable to the FDIC - - (4,093) - Net payments from FDIC under loss-sharing agreements (6,819) (80,993) (95,407) (245,416) Arbitration award expense (54,924) - (54,924) - Other adjustments attributable to FDIC loss-sharing agreements (72) (2,170) (72) (9,041) Balance at end of period $ 152,467 $ 311,946 $ 152,467 $ 311,946 The loss-share component of the arrangements applicable to comm ercial (including construction) loans expired during the quarter ended June 30, 2015. T he agreement provide s for reimbursement to the FDIC to continue through the quarter ending June 30, 2018 , and for the single family mortgage loss-share component of such agreement to expire on April 30, 2020 . As of September 30, 2016 , BPPR had unreimbursed loss claims related to the commercial loss-sharing arrangement amounting to $ 87 million , re flected in the FDIC indemnification asset as a receivable from the FDIC . The $ 87 million in unreimbursed loss claims, are the subject of certain arbitration proceedings described o n Note 23, Commitments and Contingencies , and take into consid eration the arbitration award issued by a review board on October 3, 2016, denying BPPR’s request for reimbursement of approximately $ 55 million in shared loss claims under the commercial loss share agreement. As a result of this award, the Corporation a lso recognized a pre-tax charge of $ 54.9 million and a corresponding reduction to its FDIC indemnification asset for the quarter ended September 30, 2016 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 September 30, 2016 i s 7. 07 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 outstanding 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 September 30, 2016 and December 31 , 2015 . (In thousands) September 30, 2016 December 31, 2015 Carrying amount (fair value) $ 134,487 $ 119,745 Undiscounted amount $ 166,453 $ 168,692 The increase in the fair value of the true - up payment obligation was principally driven by a decrease in the discount rate, from 7.64 % in 2015 to 5.70 % in 2016 . A lower risk premium was the driver of the decrease in the discount rate. As described above, the estimate of the true up payment obligation is determined by applying the provisions of the loss sharing agreements and will change on a quarterly basis. The amount of the estimate of the true up payment obligation is expected to change in future periods and may be subject to the interpretation of provision of the loss sharing agreements. 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 covered assets in a manner consistent with its usual and prudent business and banking practices and, with respect to single family shared-loss l oans, the procedures (including collection procedures) customarily employed by BPPR in servicing and administering mortgage 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 institutions; exercise its best judgment in managing, administering and collecting amounts on covered assets and effecting charge-offs with resp ect to the covered assets; use commercially reasonable efforts to maximize recoveries with respect to losses on single 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 and similar systems with respect to the commercial shared-loss assets; comply with the terms of the modification guidelines approved by the FD IC or another federal agency for any single-family shared - loss loan; provide notice with respect to proposed transactions 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 . |
Mortgage banking activities
Mortgage banking activities | 9 Months Ended |
Sep. 30, 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 September 30, Nine months ended September 30, (In thousands) 2016 2015 2016 2015 Mortgage servicing fees, net of fair value adjustments: Mortgage servicing fees $ 14,520 $ 17,020 $ 43,997 $ 43,957 Mortgage servicing rights fair value adjustments (6,062) 1,038 (18,879) (5,808) Total mortgage servicing fees, net of fair value adjustments 8,458 18,058 25,118 38,149 Net gain on sale of loans, including valuation on loans held-for-sale 8,857 9,698 24,441 24,999 Trading account (loss) profit: Unrealized (losses) gains on outstanding derivative positions 95 (69) (44) (10) Realized (losses) gains on closed derivative positions (2,138) (3,492) (7,465) (4,766) Total trading account (loss) profit (2,043) (3,561) (7,509) (4,776) Total mortgage banking activities $ 15,272 $ 24,195 $ 42,050 $ 58,372 |
Transfers of financial assets a
Transfers of financial assets and mortgage servicing assets | 9 Months Ended |
Sep. 30, 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. As seller, the Corporation has made certain representations and warranties with respect to the originally transferred loans and, in the past , has sold certain 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 these securitizations durin g the quarters and nine months ended September 30, 2016 and 2015 because they did not contain any credit recourse arrangements. During the quarter ended September 30, 2016 , the Corporation recorded a net gain of $ 8.4 million ( September 30, 2015 - $ 9.1 million) related to th e residential mortgage loans securitized. During the nine months ended September 30, 2016 , t he Corporation recorded a net gain of $ 22.6 million ( September 30, 2015 - $ 22.8 million) related to th e 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 and nine months ended September 30, 2016 and 2015 : Proceeds Obtained During the Quarter Ended September 30, 2016 (In thousands) Level 1 Level 2 Level 3 Initial Fair Value Assets Investments securities available for sale: Mortgage-backed securities - GNMA $ - $ 20,686 $ - $ 20,686 Mortgage-backed securities - FNMA - 5,138 - 5,138 Total investment securities available-for-sale $ - $ 25,824 $ - $ 25,824 Trading account securities: Mortgage-backed securities - GNMA $ - $ 140,255 $ - $ 140,255 Mortgage-backed securities - FNMA - 44,574 - 44,574 Total trading account securities $ - $ 184,829 $ - $ 184,829 Mortgage servicing rights $ - $ - $ 2,695 $ 2,695 Total $ - $ 210,653 $ 2,695 $ 213,348 Proceeds Obtained During the Nine Months Ended September 30, 2016 (In thousands) Level 1 Level 2 Level 3 Initial Fair Value Assets Investments securities available for sale: Mortgage-backed securities - GNMA $ - $ 20,686 $ - $ 20,686 Mortgage-backed securities - FNMA - 5,138 - 5,138 Total investment securities available-for-sale $ - $ 25,824 $ - $ 25,824 Trading account securities: Mortgage-backed securities - GNMA $ - $ 444,382 $ - $ 444,382 Mortgage-backed securities - FNMA - 123,888 - 123,888 Total trading account securities $ - $ 568,270 $ - $ 568,270 Mortgage servicing rights $ - $ - $ 7,235 $ 7,235 Total $ - $ 594,094 $ 7,235 $ 601,329 Proceeds Obtained During the Quarter Ended September 30, 2015 (In thousands) Level 1 Level 2 Level 3 Initial Fair Value Assets Trading account securities: Mortgage-backed securities - GNMA $ - $ 251,061 $ - $ 251,061 Mortgage-backed securities - FNMA - 56,800 - 56,800 Total trading account securities $ - $ 307,861 $ - $ 307,861 Mortgage servicing rights $ - $ - $ 3,309 $ 3,309 Total $ - $ 307,861 $ 3,309 $ 311,170 Proceeds Obtained During the Nine Months Ended September 30, 2015 (In thousands) Level 1 Level 2 Level 3 Initial Fair Value Assets Trading account securities: Mortgage-backed securities - GNMA $ - $ 650,891 $ - $ 650,891 Mortgage-backed securities - FNMA - 174,235 - 174,235 Total trading account securities $ - $ 825,126 $ - $ 825,126 Mortgage servicing rights $ - $ - $ 10,078 $ 10,078 Total $ - $ 825,126 $ 10,078 $ 835,204 During the nine months ended September 30, 2016 , the Corporation retained servicing rights on whole loan sales involving approximately $ 46 million in principal balance outstanding ( September 30, 2015 - $ 56 million) , with realized gains of approximately $ 1.9 million ( September 30, 2015 - gains of $ 2.2 million ). All loan sales performed during the nine months ended September 30, 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. These mortgage servicing rights (“MSRs”) are measured at fair value. 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 measured using the fair value method for the nine months ended September 30, 2016 and 2015 . Residential MSRs (In thousands) September 30, 2016 September 30, 2015 Fair value at beginning of period $ 211,405 $ 148,694 Additions 7,843 73,411 Changes due to payments on loans [1] (13,381) (12,891) Reduction due to loan repurchases (1,183) (1,576) Changes in fair value due to changes in valuation model inputs or assumptions (4,315) 3,213 Other disposals (15) - Fair value at end of period $ 200,354 $ 210,851 [1] Represents the change due to collection / realization of expected cash flow over time. Additions to mortgage servicing rights for the nine months ended September 30, 2015 include those acquired as part of the Doral Bank Transaction and those assumed for a portfolio previously serviced by Doral Bank in connection with a pre-existing backup servicing agreement. Residential mortgage loans serviced for others were $ 18.4 billion at September 30, 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 changes from period to period in the fair value of the MSRs, including changes due to collection / realization of expected cash flows. The banking subsidiaries receive servicing fees based on a percentage of the outstanding loan balance. At September 30, 2016 , those weighted average mortgage servicing fees were 0.29 % ( September 30, 2015 – 0.28 %). 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 model of the MSRs, o riginated and purchased. Key economic assumptions used in measuring the servicing rights derived from loans securitized or sold by the Corporation during the quarters and nine months ended September 30, 2016 and 2015 were as follows: Quarters ended Nine months ended September 30, 2016 September 30, 2015 September 30, 2016 September 30, 2015 Prepayment speed 4.6 % 7.0 % 5.2 % 7.0 % Weighted average life 10.6 years 8.8 years 10.1 years 7.1 years Discount rate (annual rate) 11.0 % 11.1 % 11.0 % 11.0 % 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 servicing rights purchased from other financial institutions, and the sensitivity to immedia te changes in those assumptions, were as follows as of the end of the periods reported : Originated MSRs Purchased MSRs (In thousands) September 30, 2016 December 31, 2015 September 30, 2016 December 31, 2015 Fair value of servicing rights $ 91,628 $ 98,648 $ 108,726 $ 112,757 Weighted average life (in years) 7.4 7.3 6.5 6.2 Weighted average prepayment speed (annual rate) 5.5 % 6.0 % 5.9 % 6.9 % Impact on fair value of 10% adverse change $ (2,074) $ (2,488) $ (2,475) $ (2,871) Impact on fair value of 20% adverse change $ (4,307) $ (5,241) $ (5,118) $ (6,034) Weighted average discount rate (annual rate) 11.5 % 11.5 % 11.0 % 11.0 % Impact on fair value of 10% adverse change $ (3,741) $ (4,083) $ (4,085) $ (4,211) Impact on fair value of 20% adverse change $ (7,431) $ (8,206) $ (8,134) $ (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 September 30, 2016 , the Corporation serviced $ 1.7 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 September 30, 2016 , t he Corporation had recorded $ 160 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 nine months ended September 30, 2016 , the Corporation repurchased approximately $ 67 million ( September 30, 2015 - $ 68 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 severely delin quent 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 back to curre nt status, these may be either retained in portfolio or re-sold in the secondary market. |
Other Real Estate Owned
Other Real Estate Owned | 9 Months Ended |
Sep. 30, 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 and nine months ended September 30, 2016 and 2015 . During the second quarter of 2015, the corporation completed a bulk sale of $ 37 million of covered OREOs . For the quarter ended September 30, 2016 Non-covered Non-covered Covered OREO OREO OREO (In thousands) Commercial/ Construction Mortgage Mortgage Total Balance at beginning of period $ 24,110 $ 152,915 $ 37,984 $ 215,009 Write-downs in value (255) (2,859) (667) (3,781) Additions 2,388 27,355 4,212 33,955 Sales (5,052) (13,866) (3,803) (22,721) Other adjustments - 92 (312) (220) Ending balance $ 21,191 $ 163,637 $ 37,414 $ 222,242 For the nine months ended September 30, 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 (2,533) (6,489) (1,533) (10,555) Additions 5,500 83,255 13,935 102,690 Sales (13,632) (34,769) (10,759) (59,160) Other adjustments (615) (1,120) (914) (2,649) Ending balance $ 21,191 $ 163,637 $ 37,414 $ 222,242 For the quarter ended September 30, 2015 Non-covered Non-covered Covered OREO OREO OREO (In thousands) Commercial/ Construction Mortgage Mortgage Total Balance at beginning of period $ 34,725 $ 107,530 $ 33,504 $ 175,759 Write-downs in value (668) (1,843) (640) (3,151) Additions 7,959 24,318 5,759 38,036 Sales (3,190) (12,402) (2,922) (18,514) Other adjustments (510) (93) - (603) Ending balance $ 38,316 $ 117,510 $ 35,701 $ 191,527 For the nine months ended September 30, 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 (10,717) (5,678) (20,350) (3,315) (40,060) Additions 12,787 63,925 9,661 20,019 106,392 Sales (17,485) (39,731) (59,749) (22,550) (139,515) Other adjustments 244 (615) (452) (233) (1,056) Transfer to non-covered status [1] 14,504 3,092 (14,504) (3,092) - Ending balance $ 38,316 $ 117,510 $ - $ 35,701 $ 191,527 [1] Represents the reclassification of OREOs to the non-covered category, pursuant to the expiration of the commercial and consumer shared-loss arrangement with the FDIC related to loans acquired from Westernbank, on June 30, 2015. |
Other assets
Other assets | 9 Months Ended |
Sep. 30, 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) September 30, 2016 December 31, 2015 Net deferred tax assets (net of valuation allowance) $ 1,231,356 $ 1,302,452 Investments under the equity method 214,797 212,838 Prepaid taxes 175,400 180,969 Other prepaid expenses 88,071 79,215 Derivative assets 13,427 16,959 Trades receivable from brokers and counterparties 80,125 78,759 Principal, interest and escrow servicing advances 74,475 79,862 Guaranteed mortgage loan claims receivable 151,478 101,628 Others 134,810 140,480 Total other assets $ 2,163,939 $ 2,193,162 |
Goodwill and other intangible a
Goodwill and other intangible assets | 9 Months Ended |
Sep. 30, 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 nine months ended September 30, 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 Goodwill Balance at (In thousands) January 1, 2016 acquisition adjustments impairment September 30,2016 Banco Popular de Puerto Rico $ 280,221 $ - $ - $ (3,801) $ 276,420 Banco Popular North America 346,167 - 4,707 - 350,874 Total Popular, Inc. $ 626,388 $ - $ 4,707 $ (3,801) $ 627,294 2015 Purchase Balance at Goodwill on accounting Goodwill Balance at (In thousands) January 1, 2015 acquisition adjustments impairment September 30, 2015 Banco Popular de Puerto Rico $ 250,109 $ 3,899 $ (3,385) $ - $ 250,623 Banco Popular North America 215,567 38,735 - - 254,302 Total Popular, Inc. $ 465,676 $ 42,634 $ (3,385) $ - $ 504,925 During the third quarter of 2016, the Corporation recorded a goodwill impairment charge of $3.8 million at the securities subsidiary as part of its annual goodwill impairment test. During the first quarter of 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 good will. The goodwill recorded during 2015 was related to the Doral Bank Transaction. The Corporation recorded purchase accounting adjustments during 2015 of $1.0 million related to the Doral Bank Transaction and of $2.4 million related to the acquisition of an insurance benefits business during 2014. Other Intangible Assets At September 30, 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 September 30, 2016 Core deposits $ 63,539 $ 43,467 $ 20,072 Other customer relationships 36,449 14,748 21,701 Total other intangible assets $ 99,988 $ 58,215 $ 41,773 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 September 30, 2016 , the Corporation recognized $ 3.1 million in amortization expense related to other intangible assets with definite useful lives ( September 30, 2015 - $ 3.5 million). During the nine months ended September 30, 2016 , the Corporation recognized $ 9.3 million in amortization related to other intangible assets with definite useful lives ( September 30, 2015 - $ 8.5 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 $ 2,836 Year 2017 9,378 Year 2018 9,286 Year 2019 9,042 Year 2020 4,967 Year 2021 2,157 Results of the Annual Goodwill Impairment Test The Corporation’s goodwill and other identifiable intangible assets having an indefinite useful life are tested for impairment, at least annually and on a more frequent basis if events or circumstances indicate impairment could have taken place. Such events could include, among others, a significant adverse change in the business climate, an adverse action by a regulator, an unanticipated change in the competitive environment and a decision to change the operations or dispose of a reporting unit. Under applicable accounting standards, goodwill impairment analysis is a two-step test. The first step of the goodwill impairment test involves comparing the fair value of the reporting unit with its carrying amount, including goodwill. If the fair value of the reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not impaired; however, if the carrying amount of the report ing unit exceeds its fair value, the second step must be performed. The second step involves calculating an implied fair value of goodwill for each reporting unit for which the first step indicated possible impairment. The implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination, which is the excess of the fair value of the reporting unit, as determined in the first step, over the aggregate fair values of the individual assets, liabilitie s and identifiable intangibles (including any unrecognized intangible assets, such as unrecognized core deposits and trademark) as if the reporting unit was being acquired in a business combination and the fair value of the reporting unit was the price pai d to acquire the reporting unit. The Corporation estimates the fair values of the assets and liabilities of a reporting unit, consistent with the requirements of the fair value measurements accounting standard, which defines fair value as the price that wo uld be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value of the assets and liabilities reflects market conditions, thus volatility in prices could have a material impact on the determination of the implied fair value of the reporting unit goodwill at the impairment test date. The adjustments to measure the assets, liabilities and intangibles at fair value are for the purpose of measuring the implied fair va lue of goodwill and such adjustments are not reflected in the consolidated statement of condition. If the implied fair value of goodwill exceeds the goodwill assigned to the reporting unit, there is no impairment. If the goodwill assigned to a reporting un it exceeds the implied fair value of the goodwill, an impairment charge is recorded for the excess. An impairment loss recognized cannot exceed the amount of goodwill assigned to a reporting unit, and the loss establishes a new basis in the goodwill. Subse quent reversal of goodwill impairment losses is not permitted under applicable accounting standards. The Corporation performed the annual goodwill impairment evaluation for the entire organization during the third quarter of 2016 using July 31, 2016 as the annual evaluation date. The reporting units utilized for this evaluation were those that are one level below the business segments, which are the legal entities within the reportable segment. The Corporation follows push-down accounting, as such all goodw ill is assigned to the reporting units when carrying out a business combination. In determining the fair value of a reporting unit, the Corporation generally uses a combination of methods, including market price multiples of comparable companies and transa ctions, as well as discounted cash flow analysis. Management evaluates the particular circumstances of each reporting unit in order to determine the most appropriate valuation methodology. The Corporation evaluates the results obtained under each valuation methodology to identify and understand the key value drivers in order to ascertain that the results obtained are reasonable and appropriate under the circumstances. Elements considered include current market and economic conditions, developments in specif ic lines of business, and any particular features in the individual reporting units. The computations require management to make estimates and assumptions. Critical assumptions that are used as part of these evaluations include: a selection of comparable p ublicly traded companies, based on nature of business, location and size; a selection of comparable acquisition and capital raising transactions; the discount rate applied to future earnings, based on an estimate of the cost of equity; the potential future earnings of the reporting unit; and the market growth and new business assumptions. For purposes of the market comparable approach, valuations were determined by calculating average price multiples of relevant value drivers from a group of companies that are comparable to the reporting unit being analyzed and applying those price multiples to the value drivers of the reporting unit. Multiples used are minority based multiples and thus, no control premium adjustment is made to the comparable companies mark et multiples. While the market price multiple is not an assumption, a presumption that it provides an indicator of the value of the reporting unit is inherent in the valuation. The determination of the market comparables also involves a degree of judgment. For purposes of the discounted cash flows (“DCF”) approach, the valuation is based on estimated future cash flows. The financial projections used in the DCF valuation analysis for each reporting unit are based on the most recent (as of the valuation date ) financial projections presented to the Corporation’s Asset / Liability Management Committee (“ALCO”). The growth assumptions included in these projections are based on management’s expectations for each reporting unit’s financial prospects considering ec onomic and industry conditions as well as particular plans of each entity (i.e. restructuring plans, de- leveraging, etc.). The cost of equity used to discount the cash flows was calculated using the Ibbotson Build-Up Method and ranged from 9.47 % t o 13.72 % for the 2016 analysis . The Ibbotson Build-Up Method builds up a cost of equity starting with the rate of return of a “risk-free” asset ( 2 0- year U.S. Treasury note) and adds to it additional risk elements such as equity risk premium, size p remium and industry risk premium. The resulting discount rates were analyzed in terms of reasonability given the current market conditions and adjustments were made when necessary. Popular Securities failed Step 1 of the annual goodwill impairment evaluati on as of July 31, 2016 requiring the completion of Step 2. To complete Step 2, the Corporation subtracted from Popular Securities’ Step 1 fair value the determined fair value of the net assets to arrive at the implied fair value of goodwill. The results o f the Step 2 indicated that the implied fair value of goodwill was below the carrying value resulting in an impairment charge of $3.8 million at July 31, 2016. BPPR passed Step 1 in the annual test as of July 31, 2016. The results indicated that the avera ge estimated fair value calculated in Step 1 using all valuation methodologies exceeded BPPR’s equity value by approximately $ 549 million or 16 %. Accordingly, there was no indication of impairment on the goodwill recorded in BPPR at July 3 1, 201 6 and there was no need for a Step 2 analysis. BPNA failed Step 1 in the annual test as of July 31, 2016 requiring the completion of Step 2. To complete Step 2, the Corporation subtracted from BPNA’s Step 1 fair value the determined fair value of the net assets to arrive at the implied fair value of goodwill. The results of the Step 2 indicated that the implied fair value of goodwill exceeded the goodwill carrying value by $ 166 million at July 31, 2016 resulting in no goodwill impairment. If t he fair value of BPNA , which is principally impacted by its expected level of profitability, declines further in the future without a corresponding decrease in the fair value of its net assets or if loan discounts improve without a corresponding increase i n fair value of the BPNA reporting unit, the Corporation may be required to record a goodwill impairment charge. The goodwill balance of BPPR and BPNA, as legal entities, represented approximately 98 % of the Corporation’s total goodwill balance as of the July 31, 2016 valuation date. Furthermore, as part of the analyses, management performed a reconciliation of the aggregate fair values determined for the reporting units to the market capitalization of Popular, Inc. concluding that the fair value results determined for the reporting units in the July 31, 2016 annual assessment were reasonable. The goodwill impairment evaluation process requires the Corporation to make estimates and assumptions with regard to the fair value of the reporting units. Actual values may differ significantly from these estimates. Such differences could result in future impairment of goodwill that would, in turn, negatively impact the Corporation’s results of operations and the reporting units where the goodwill is recorded. Declines in the Corporation’s market capitalization could increase the risk of goodwill impairment in the future. Management monitors events or changes in circumstances between annual tests to determine if these events or changes in circumstances would more likely than not reduce the fair value of a reporting un it below its carrying amount. The following tables present the gross amount of goodwill and accumulated impairment losses by reportable segments. September 30, 2016 Balance at Balance at Balance at Balance at January 1, Accumulated January 1, September 30, Accumulated September 30, 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 $ 3,801 $ 276,420 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 $ 168,212 $ 627,294 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 |
Deposits
Deposits | 9 Months Ended |
Sep. 30, 2016 | |
Disclosure Text Block | |
Deposits | Note 17 – Deposits Total interest bearing deposits as of the end of the periods presented consisted of: (In thousands) September 30, 2016 December 31, 2015 Savings accounts $ 7,467,000 $ 7,010,391 NOW, money market and other interest bearing demand deposits 8,007,752 5,632,449 Total savings, NOW, money market and other interest bearing demand deposits 15,474,752 12,642,840 Certificates of deposit: Under $100,000 3,668,667 4,014,359 $100,000 and over 4,233,339 4,151,009 Total certificates of deposit 7,902,006 8,165,368 Total interest bearing deposits $ 23,376,758 $ 20,808,208 A summary of certificates of deposit by maturity at September 30, 2016 follows: (In thousands) 2016 $ 2,153,326 2017 2,331,194 2018 1,122,454 2019 641,676 2020 924,486 2021 and thereafter 728,870 Total certificates of deposit $ 7,902,006 At September 30, 2016 , the Corporation had brokered deposits amounting to $ 0.7 billion (December 31, 2015 - $ 1.3 billion ). The aggregate amount of overdrafts in demand deposit accounts that were reclassified to loans was $ 20 million at September 30, 2016 (December 31, 2015 - $ 11 million ) . |
Borrowings
Borrowings | 9 Months Ended |
Sep. 30, 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 September 30, 2016 and December 31, 2015 . (In thousands) September 30, 2016 December 31, 2015 Federal funds purchased $ - $ 50,000 Assets sold under agreements to repurchase 765,251 712,145 Total federal funds purchased and assets sold under agreements to repurchase $ 765,251 $ 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 September 30, 2016 December 31, 2015 Repurchase Repurchase (In thousands) liability liability U.S. Treasury Securities Within 30 days $ 19,260 $ - After 30 to 90 days 34,793 - After 90 days 32,700 - Total U.S. Treasury Securities 86,753 - Obligations of U.S. government sponsored entities Within 30 days 81,832 243,708 After 30 to 90 days 72,900 - After 90 days 149,409 23,366 Total obligations of U.S. government sponsored entities 304,141 267,074 Mortgage-backed securities Within 30 days 51,456 124,878 After 30 to 90 days 149,665 154,582 After 90 days 147,330 142,441 Total mortgage-backed securities 348,451 421,901 Collateralized mortgage obligations Within 30 days 25,906 10,298 After 30 to 90 days - 12,872 Total collateralized mortgage obligations 25,906 23,170 Total $ 765,251 $ 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 September 30, 2016 and December 31, 2015 . (In thousands) September 30, 2016 December 31, 2015 Others $ 1,200 $ 1,200 Total other short-term borrowings $ 1,200 $ 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 September 30, 2016 and December 31, 2015 . (In thousands) September 30, 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 % $ 632,151 $ 747,072 Advances with the FHLB with maturities ranging from 2018 through 2019 paying interest monthly at a floating rates ranging from 0.22% to 0.34% over the 1 month LIBOR 34,164 - 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 $5,733 (2015 - $7,296) 444,268 442,704 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 $483 (2015 - $505) 439,316 439,295 Others 18,321 19,008 Total notes payable $ 1,598,533 $ 1,662,508 Note: Refer to the Corporation’s 2015 Form 10-K for rates information at December 31, 2015 . At September 30, 2016 , the Corporation’s banking subsidiaries had credit facilities authorized with the FHLB and the Federal Reserve discount window aggregating to $ 3.9 billion and $ 1.2 billion ( December 31, 2015 - $ 3.9 billion and $ 1.3 billion, respectively), which were collateralized by loans held-in-portfolio. At September 30, 2016 , the Corporation used $ 897 million of the available credit facility with the FHLB ( December 31, 2015 - $ 762 million), which includes $ 200 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 September 30, 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 $ 484,812 $ 1,200 $ 23,886 $ 509,898 2017 280,439 - 95,939 376,378 2018 - - 210,475 210,475 2019 - - 597,055 597,055 2020 - - 112,383 112,383 Later years - - 558,795 558,795 Total borrowings $ 765,251 $ 1,200 $ 1,598,533 $ 2,364,984 |
Offsetting of financial assets
Offsetting of financial assets and liabilities | 9 Months Ended |
Sep. 30, 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 September 30, 2016 and December 31, 2015 . As of September 30, 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 $ 13,427 $ - $ 13,427 $ 336 $ - $ - $ 13,091 Reverse repurchase agreements 22,380 - 22,380 - 22,380 - - Total $ 35,807 $ - $ 35,807 $ 336 $ 22,380 $ - $ 13,091 As of September 30, 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 $ 11,214 $ - $ 11,214 $ 336 $ 1,546 $ - $ 9,332 Repurchase agreements 765,251 - 765,251 - 765,251 - - Total $ 776,465 $ - $ 776,465 $ 336 $ 766,797 $ - $ 9,332 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 | 9 Months Ended |
Sep. 30, 2016 | |
Stockholders' Equity Note | |
Stockholders' Equity | Note 20 – Stockholders ’ equity D uring the nine months ended September 30, 2016 , the Corporation declared quarterly dividends on its common stock of $0.15 per share, for a total of $ 46.7 million. The quarterly dividend declared to shareholders of record as of the close of business on September 9 , 2016, which amounted to $15.6 million, was paid on October 3 , 2016 . BPPR statutory reserve The Banking Act of the Commonwealth of Puerto Rico r equires 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 September 30, 2016 (December 31, 2015 - $ 495 m illion). There were no transfers between the statutory reserve account and the retained earnings account during the quarters and nine mont hs ended September 30, 2016 and September 30, 2015 . |
Other comprehensive income (los
Other comprehensive income (loss) | 9 Months Ended |
Sep. 30, 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 and nine months ended September 30, 2016 and 2015 . Changes in Accumulated Other Comprehensive Loss by Component [1] Quarters ended Nine months ended September 30, September 30, (In thousands) 2016 2015 2016 2015 Foreign currency translation Beginning Balance $ (38,070) $ (34,505) $ (35,930) $ (32,832) Other comprehensive loss (325) (31) (2,465) (1,704) Net change (325) (31) (2,465) (1,704) Ending balance $ (38,395) $ (34,536) $ (38,395) $ (34,536) Adjustment of pension and postretirement benefit plans Beginning Balance $ (205,743) $ (200,215) $ (211,276) $ (205,187) Amounts reclassified from accumulated other comprehensive loss for amortization of net losses 3,348 3,064 10,041 9,195 Amounts reclassified from accumulated other comprehensive loss for amortization of prior service cost (580) (579) (1,740) (1,738) Net change 2,768 2,485 8,301 7,457 Ending balance $ (202,975) $ (197,730) $ (202,975) $ (197,730) Unrealized holding (losses) gains on investments Beginning Balance $ 98,761 $ 15,533 $ (9,560) $ 8,465 Other comprehensive (loss) income before reclassifications (14,131) 27,435 94,023 22,548 Other-than-temporary impairment amount reclassified from accumulated other comprehensive income - - 167 11,959 Amounts reclassified from accumulated other comprehensive income for gains on securities (316) (109) (316) (113) Net change (14,447) 27,326 93,874 34,394 Ending balance $ 84,314 $ 42,859 $ 84,314 $ 42,859 Unrealized net losses on cash flow hedges Beginning Balance $ (560) $ 156 $ (120) $ (318) Other comprehensive loss before reclassifications (685) (1,571) (2,843) (2,505) Amounts reclassified from accumulated other comprehensive loss 1,006 1,016 2,724 2,424 Net change 321 (555) (119) (81) Ending balance $ (239) $ (399) $ (239) $ (399) Total $ (157,295) $ (189,806) $ (157,295) $ (189,806) [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 and nine months ended September 30, 2016 and 2015 . Reclassifications Out of Accumulated Other Comprehensive Loss Quarters ended Nine months ended Affected Line Item in the September 30, September 30, (In thousands) Consolidated Statements of Operations 2016 2015 2016 2015 Adjustment of pension and postretirement benefit plans Amortization of net losses Personnel costs $ (5,488) $ (5,025) $ (16,461) $ (15,075) Amortization of prior service cost Personnel costs 950 950 2,850 2,850 Total before tax (4,538) (4,075) (13,611) (12,225) Income tax benefit 1,770 1,590 5,310 4,768 Total net of tax $ (2,768) $ (2,485) $ (8,301) $ (7,457) Unrealized holding (losses) gains on investments Other-than-temporary impairment Other-than-temporary impairment losses on available-for-sale debt securities $ - $ - $ (209) $ (14,445) Realized gains on sale of securities Net gain on sale of investment securities 349 136 349 141 Total before tax 349 136 140 (14,304) Income tax (expense) benefit (33) (27) 9 2,458 Total net of tax $ 316 $ 109 $ 149 $ (11,846) Unrealized net losses on cash flow hedges Forward contracts Mortgage banking activities $ (1,650) $ (1,664) $ (4,466) $ (3,973) Total before tax (1,650) (1,664) (4,466) (3,973) Income tax benefit 644 648 1,742 1,549 Total net of tax $ (1,006) $ (1,016) $ (2,724) $ (2,424) Total reclassification adjustments, net of tax $ (3,458) $ (3,392) $ (10,876) $ (21,727) |
Guarantees
Guarantees | 9 Months Ended |
Sep. 30, 2016 | |
Guarantees | |
Guarantees | Note 22 – Guarantees At September 30, 2016 , the Corporation recorded a liability of $ 0.4 million (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 Corporation securitized mortgage loans into guaranteed mortgage-backed securities subject to limited, and in certain instanc es, lifetime credit recourse on the loans that serve as collateral for the mortgage-backed securities. T he Corporation has not sold any mortgage loans subject to credit recourse since 2009. At September 30, 2016 , the Corporation serviced $ 1.7 billion ( December 31, 2015 - $ 1.9 billion ) in residential mortgage loans subject to credit recourse provisions, principally loans associated with FNMA and F HLMC 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 serviced wit h recourse and interest, if applicable. During the quarter and nine months ended September 30, 2016 , the Corporation repurchased approximately $ 11 million and $ 34 million , respectively, of unpaid principal balance in mortgage loans subje ct to the credit recourse provisions ( September 30, 2015 - $ 14 million and $ 44 million , respectively ). 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 sale of the property underlyi ng 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 September 30, 2016 , the Corporation’s liability established to co ver the estimated credit loss exposure related to loans sold or serviced with credit recourse amounted to $ 56 million (December 31, 2015 - $ 59 million ). The following table shows the changes in the Corporation’s liability of estimated los ses related to loans serviced with credit recourse provisions during the quarters and nine month periods ended September 30, 2016 and 2015 . Quarters ended September 30, Nine months ended September 30, (In thousands) 2016 2015 2016 2015 Balance as of beginning of period $ 56,931 $ 57,589 $ 58,663 $ 59,438 Provision for recourse liability 4,086 4,394 11,613 15,262 Net charge-offs (4,737) (4,927) (13,996) (17,644) Balance as of end of period $ 56,280 $ 57,056 $ 56,280 $ 57,056 When the Corporation sells or securitizes mortgage loans, it generally makes customary representations and warranties regarding the characteristics of the loans sold. To the extend the loans do not meet specified 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 nine months period ended September 30, 2016, BPPR did not repurchase loans under representation and warranty arrangements. Repurchases d uring the nine months ended September 30, 2015 were minimal. 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 assoc iated with indemnifications and representations and warranties related to loans sold by BPPR for the quarters and nine months ended September 30, 2016 and 2015 . Quarters ended September 30, Nine months ended September 30, (In thousands) 2016 2015 2016 2015 Balance as of beginning of period $ 10,702 $ 6,062 $ 8,087 $ 15,959 Provision (reversal) for representation and warranties (34) 1,409 2,767 (6,199) Net charge-offs (27) (14) (213) (53) Settlements paid - - - (2,250) Balance as of end of period $ 10,641 $ 7,457 $ 10,641 $ 7,457 In addition, 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, which amounted to $ 2 million at September 30, 2016 (December 31 , 2015 - $ 4 m illion). E-LOAN is no longer originating and selling loans. 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 September 30, 2016 , t he Corporation serviced $ 18.4 billion in mortgage loans for third-parties , including the loans serviced with credit recourse (December 31 , 2015 - $ 20.6 billion ). The Corporation generally recovers fun ds advanced pursuant to these arrangements from the mortgage owner, from liquidation proceeds when the mortgage loan is foreclosed or, in the case of FHA/VA loans, under the applicable FHA and VA insurance and guarantees programs. However, in the meantime, the Corporation must 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 mortgage 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 September 30, 2016 , the outstanding balance of funds advanced by the Corporation under such mortgage loan servicing agreements was approximately $ 74 million, including advances on the portfolio acquired from Doral Bank ( December 3 1 , 2015 - $ 80 m illion ). To the extent the mortgage loans underlying the C orporation’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 increase s 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 $ 149 m illion at September 30, 2016 and December 31, 2015 . In addition, at September 30, 2016 and December 31 , 2015 , PIHC fully and unconditionally guaranteed on a subordinated basis $ 427 m illion of capital securities (tru st 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 | 9 Months Ended |
Sep. 30, 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) September 30, 2016 December 31, 2015 Commitments to extend credit: Credit card lines $ 4,542,246 $ 4,552,331 Commercial and construction lines of credit 2,813,109 2,619,092 Other consumer unused credit commitments 266,780 262,685 Commercial letters of credit 5,723 2,040 Standby letters of credit 37,097 49,670 Commitments to originate or fund mortgage loans 29,195 21,311 At September 30, 2016 and December 31, 2015 , the Corporation maintained a reserve of approximately $ 9 million and $10 million, respectively, for potential losses associated with unfunded loan commitments related to commercia l and consumer lines of credit . Other commitments At September 30, 2016 and December 31, 2015 , the Corporation also maintained other non-credit commitments for approximately $ 372 thousand and $9 million, respectively , primarily for the acquisition of other in vestments . 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 markets. 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 geo graphical area is presented in Note 35 to the consolidated 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 bo nds of several other Commonwealth instrumentalities to non-investment 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, rec urring fiscal budget deficits, the financial condition of the 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’. PROMESA and the Commonwealth’s Fiscal Plan On June 30, 2016, President Obama signed the Puerto Rico Oversight, Management and Economic Stability Act (“PROMESA”) into law. PROMESA established a seven-member oversight board with broad powers over the finances of the Commonwealth and its instrumentalities (the “Oversight Board”). Among other things, PROMESA provides for: (i) a stay on litigation to enforce remedies or r ights related to outstanding liabilities of the Commonwealth, its political subdivisions, including municipalities, instrumentalities and public corporations and (ii) two separate processes for the restructuring of the debt obligations of such entities. PR OMESA also includes other miscellaneous provisions, including relief from certain wage and hour laws and regulations and provisions for identification and expedited permitting of critical infrastructure projects. During the first meeting of the Oversight Board, held on September 30, 2016, the Oversight Board announced the designation of a number of entities as covered entities under PROMESA, including the Commonwealth, all of its public corporations and retirement systems, UPR, and all affiliates and subsidiaries of the foregoing. While the Oversight Board has the power to designate any of the Commonwealth’s municipalities as covered entities under PROMESA, it has not done so as of the date hereof. The designation of an entity as a covered entity has various implications under PROMESA. First, it means that the Governor will have to submit such entity’s annual budgets and, if the Oversight Board so requests, its fiscal plans, to the Oversight Board for its review an d approval. Second, covered territorial instrumentalities may not issue debt or guarantee, exchange, modify, repurchase, redeem, or enter into similar transactions with respect to their debts without the prior approval of the Oversight Board. Third, pursua nt to certain contracting guidelines approved by the Oversight Board, prior Oversight Board approval is required in connection with any transaction undertaken by a covered entity that (i) is outside the ordinary course of business or (ii) has a material fi nancial impact. Finally, covered entities could also potentially be eligible to use the restructuring procedures provided by PROMESA. The first, Title VI, is a largely out-of-court process through which a government entity and its financial creditors can agree on terms to restructure such entity’s debt. If a supermajority of creditors of a certain category agree, that agreement can bind all other creditors in such category. The second, Title III, draws on the federal bankruptcy code and provides a court-s upervised process for a comprehensive restructuring led by the Oversight Board. At September 30, 2016 , the Corporation’s direct exposur e to the Puerto Rico government and its instrumentalities and municipalities amounted to $ 557 m illion, of which app roximately $ 524 million is outstanding ($ 669 m illion and $ 578 million , respectively, at December 31, 2015 ). Of the amount outstanding, $ 448 million consists of loans and $ 76 million are securities ($ 502 million and $ 76 million at December 31, 2015 ). Also, of the amount outstanding , $ 23 million represents obligations from the Government of Puerto Rico and public corporations that have a specific source of income or reve nues identified for their repayment ($ 76 million 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 pu blic utilities. Public corporations have varying degrees of independence from the central Government and many receive appropriations or other payments from it. During the quarter ended September 30, 2016 , BPPR sold its $ 40 million credit facility to the Pue rto Rico Electric Power Authority (“ PREPA ”) . The remaining $ 501 million outstanding represents obligations from various municipalities in Puerto Rico for which, in most cases, the good faith, 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 required for the payment of all of its general obligati on 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, resu lting in losses to us. The following table details the loans and investments representing the Corporation’s direct exposure to the Puerto Rico government according to their maturities: (In thousands) Investment Portfolio Loans Total Outstanding Total Exposure Central Government After 1 to 5 years $ 851 $ - $ 851 $ 851 After 5 to 10 years 3,748 - 3,748 3,748 After 10 years 16,435 - 16,435 16,435 Total Central Government 21,034 - 21,034 21,034 Government Development Bank (GDB) Within 1 year 2 - 2 2 After 1 to 5 years 1,352 - 1,352 1,352 After 5 to 10 years 39 - 39 39 Total Government Development Bank (GDB) 1,393 - 1,393 1,393 Public Corporations: Puerto Rico Aqueduct and Sewer Authority Within 1 year - - - 27,186 After 10 years 503 - 503 503 Total Puerto Rico Aqueduct and Sewer Authority 503 - 503 27,689 Puerto Rico Electric Power Authority After 10 years 23 - 23 23 Total Puerto Rico Electric Power Authority 23 - 23 23 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 3,105 26,631 29,736 31,798 After 1 to 5 years 14,540 128,039 142,579 146,278 After 5 to 10 years 18,635 145,005 163,640 163,640 After 10 years 16,820 148,160 164,980 164,980 Total Municipalities 53,100 447,835 500,935 506,696 Total Direct Government Exposure $ 76,057 $ 447,835 $ 523,892 $ 556,839 In addition, at September 30, 2016 , the Corporation had $ 413 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 $ 330 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 $ 32 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 $ 134 million at September 30, 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 $ 27.25 million as of September 30, 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 that the overdraft rates and fees assessed by PCB violate New York’s usury laws. Plaintiffs seek unspecified damages, including punitive damages, interest, disbursements, and attorneys’ fees and co sts. A motion to dismiss was filed on September 9, 2013. On October 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. I n August 2014, the Court entered an order granting in part PCB’s motion 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 c ertain deficiencies noted in the court’s decision and order. PCB subsequently 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 Ju ly 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 custo mers 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 granting 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 of appeal on the partial denial of PCB’s motion to dismiss. A mediation session held on September 21, 2016 proved unsuccessful. Discovery is ongoing. PCB has also been named a defendant in a complaint for breach of contract regarding certain alleged repurchase obligations in connection with the origination and sale of residential mortgage loans sold by E-LOAN to plaintiff. In January 2015, the court consolidated this action with the mat ter of In re: RFC and RESCAP Liquidating Trust Litigation , which is composed of approximately 70 other matters involving repurchase obligation claims filed by RFC, for pretrial purposes. A joint mediation hearing was held on September 21, 2016 but did not result in the settlement of this matter. The case is currently in discovery. BPPR has been named a defendant in a putative class action complaint captioned Neysha Quiles et al. v. Banco Popular de Puerto Rico et al ., filed in December 2013 in the Unite d 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 t ime, 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 formerly 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 willfully 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 grant ed plaintiffs’ request for conditional certification of the FLSA action. Following the Court’s order, plaintiffs sent out notices to all purported class members with instructions 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 ag reement 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 on September 20, 2016, the Court dismissed plaintiffs’ request without prejudice . 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 Sout hern 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 defendant, is the sponsor and co-sponsor of all 23 funds, while BPP R 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 fiduciary duty against BPPR, and similar claims against the UBS en tities. 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 same 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 fil ed 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 New York as the selected forum. The Popular defendants joine d the opposition and motion filed by UBS. 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 transfer. 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. Oral arguments were held on the motions to dismiss in front of Judg e Stein of the SDNY on October 14, 2016. Those motions are pending the Court’s determination. Other Matters The volatility in prices and declines in value that Puerto Rico munici pal bonds 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 P opular Securities. Popular Securities has received customer complaints and is named as a respondent (among other broker-dealers) in 63 arbitration proceedings with aggregate claimed damages of approximately $165 million, including one arbitration with clai med damages of $78 million in which one other Puerto Rico broker-dealer is a co-defendant. It is the view of the Corporation that Popular Securities has meritorious defenses to the claims asserted. The Government’s defaults on its debt, its intention to p ursue a comprehensive debt restructuring, including specifically its decisions to declare a moratorium on certain principal payments on bonds including those issued by Government Development Bank for Puerto Rico (the “GDB”), may increase the number of cust omer complaints (and claimed damages) against Popular Securities concerning Puerto Rico bonds, including bonds issued by GDB, and closed-end investment companies that invest primarily in Puerto Rico bonds. An adverse result in the matters described above o r a significant increase in customer complaints could have a material adverse effect on Popular. As mortgage lender s , the Corporation and its subsidiaries from time to time receive requests for information from departments of the U . S . government that inve stigate mortgage-related conduct. In particular, the BPPR has received subpoenas and other requests for information from the Federal 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 mainly concerning mortgages and real estate appraisals in Puerto Rico. The Corporation is cooperating with these requests. Other Significant Proceedings As described under “Note 11 – FDIC loss sh are 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, as receiver, 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% reimbursement under those loss share agreements. T he loss share agreements contain specific terms and conditio ns 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 comme rcial 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 recoveries through the quarter ending June 30, 2018. On November 25, 2014, the FDIC notified BPPR that it (a) would 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 Dispute d Asset 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 cau sing the bank to breach Article III of the commercial loss share agreement. BPPR disagreed 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. 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 Association. On March 19, 2015, BPPR filed a st atement 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 requested 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 approximately $53.3 million for the Charge-Off of the Di sputed 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 Ap ril 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 Disputed Asset was comprised of one arbitrator appoi nted by BPPR, one arbitrator appointed by the FDIC and a third arbitrator selected by agreement of those arbitrators. The arbitration hearing was held in August 2016. On October 3, 2016, the review board in the arbitration described above issued a final a ward denying BPPR’s request for reimbursement on the Disputed Asset. As a result, for the quarter ended September 30, 2016, the Corporation recognized a pre-tax charge of approximately $55 million and a corresponding reduction to its FDIC indemnification asset . 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 Shar ed-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 proposals 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 lo ss 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 cl aim 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 which 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 fil ed a second amended statement of claim concerning the FDIC’s refusal to concur in the third and fourth portfolio sales as proposed by BPPR. On November 25, 2015, BPPR completed the sale of the loans in the primary portfolio of the third proposed sale, a nd subsequently submitted a claim for reimbursement for a portion of its losses arising from that sale, which the FDIC partially reimbursed on July 18, 2016. On June 30, 2016, BPPR completed the sales of the remaining loans included in the proposed portfol io sales. In connection with the arbitration concerning the proposed portfolio sales, BPPR is seeking damages in the amount of $88.5 million plus interest. The FDIC has filed a counterclaim for recoveries allegedly lost on six loans included in the third proposed sale and on the loans and related assets included in the subsequent sales. 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 th ird arbitrator selected by agreement of those arbitrators. The arbitration hearing is scheduled to be held in November 2016, and the Corporation expects that a final award will be issued on BPPR’s claims before the end of 2016. The FDIC’s counterclaim will be adjudicated by the review board after it issues an award on the other issues in the portfolio sales arbitration. 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 s hare agreement, 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 th e Shared-Loss 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. On May 20, 2016, BPPR filed a demand for arbitration with the American Arbitration Association requesting that a review board resolve the disputes arising from BPPR’s filing of the Second Quarter 2015 Quarterly Certificate and award BPPR damages in the amount of $4.9 million. On June 29, 2016, the FDIC filed its answering statement and counterclaim, seeking a declaration that the FDIC properly denied a portion of the bank’s shared-loss claim for one of the subject assets. The review board in the arbitration concerning the Second Quarter 2015 Quarterly Certificate is comprised of one arbitrator appointed by BPPR, one arbitrator appointed by the FDIC and a third arbitrator to be selected by agreement of those arbitrators. The arbitratio n hearing has not yet been scheduled. The commercial shared-loss arrangement described above expired on June 30, 2015 , when the three year recovery period commenced . As of September 3 0 , 201 6 , BPPR had unreimbursed loss claims related to th is arrangement amounting to approximately $ 87 million, reflected in the FDIC indemnification asset as a receivable from the FDIC, which are subject to the arbitration proceedings described above. Until these disputes are finally resolved, the terms of the com mercial loss share agreement will remain in effect with respect to any such items under dispute. No assurance |
Non-consolidated variable inter
Non-consolidated variable interest entities | 9 Months Ended |
Sep. 30, 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 investments 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 additional 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 as avail able-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 servic ing 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 GNMA) have the obligation to absorb l osses that could be potentially significant to the VIE. 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 Corporatio n 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 o ther form of continuing involvement. Refer to Note 26 to the consolidated financial statements for additional information on the debt securities outstanding at September 30, 2016 and December 31, 2015 , which are classified as available-for-sale and tra ding securities in the Corporation’s consolidated statements of financial condition. In addition, the Corporation holds variable interests in the form of servicing fees, since it retain s the right to service the transferred loans in those government-sponso red 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. The following table presents the carrying amount and classification of the asse ts related to the Corporation’s variable interests in non-consolidated VIEs and the maximum exposure to loss as a result of the Corporation’s involvement as servicer of GNMA and FNMA loans at September 30, 2016 and December 31, 2015 . (In thousands) September 30, 2016 December 31, 2015 Assets Servicing assets: Mortgage servicing rights $ 154,740 $ 163,224 Total servicing assets $ 154,740 $ 163,224 Other assets: Servicing advances $ 23,689 $ 24,431 Total other assets $ 23,689 $ 24,431 Total assets $ 178,429 $ 187,655 Maximum exposure to loss $ 178,429 $ 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 $ 12.5 billion at September 30, 2016 (December 31, 2015 - $ 12.8 billion). The Corporation determined that the maximum exposure to loss includes the fair value of the MSRs and the assumption that the servicing advances at September 30, 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 to a newly created joint venture, PRLP 2011 Holdings, LLC. In March of 2013, BPPR completed a sale of commercial and construction loans, and commercial and single family real estate owned to a newly created joint venture, PR Asset Portfolio 2013-1 International, LLC. The se joint venture s were 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 real properties acquired by the joint venture s through deed in lieu of foreclosure, foreclosure, or by resolution of any loan. BPPR provided financing to PRLP 2011 Holdings, LLC and PR Asset Portfolio 2013-1 International, LLC for the acquisition of the assets in an amount equal to the acquisition loan of $ 86 million and $ 182 million , respectively . The acquisition loan s ha ve a 5-year maturity and bear a variable interest at 30-day LIBOR plus 300 basis points and are secured by a pledge of all of the acquiring entity’s assets. In addition, BPPR provided the se joint venture s with a non-revolving advance facility (the “advance facility”) of $ 69 million and $ 35 million, respe ctively, to cover unfunded commitments and costs-to-complete related to certain construction projects, and a revolving working capital line (the “working capital line”) of $ 20 million and $ 30 million, respectively, to fund certain operating expenses of the joint venture. As part of the se transaction s , BPPR received $ 48 million and $ 92 million, respectively, in cash and a 24.9 % equity interest in each joint venture. The Corporation is not required to provide any other financial support to the se joint venture s . BPPR accounted for both transaction s as a true sale pursuant to ASC Subtopic 860-10. The Corporation has determined that PRLP 2011 Holdings, LLC and PR Asset Portfolio 2013-1 International, LLC are VIE s 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 woul d require the unanimous consent of all members. The Manager is authorized to execute and deliver on behalf of the joint venture s any and all documents, contracts, certificates, agreements and instruments, and to take any action deemed necessary in the benef it of the joint venture s . The Corporation holds variable interests in th ese VIE s in the form of the 24.9 % equity interest s and the financing provided to the se joint venture s . The equity interest is accounted for under the equity method of accounting pu rsuant to ASC Subtopic 323-10. The following table s present the carrying amount and classification of the assets and liabilities related to the Corporation’s variable interests in the non-consolidated VIE s, PRLP 2011 Holdings, LLC and PR Asset Portfolio 2 013- International, LLC, and their maximum exposure to loss at September 30, 2016 and December 31, 2015 . PRLP 2011 Holdings, LLC (In thousands) September 30, 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 $ 9,586 $ 13,069 Total assets $ 9,586 $ 14,059 Deposits $ (3,603) $ (18,808) Total liabilities $ (3,603) $ (18,808) Total net assets (liabilities) $ 5,983 $ (4,749) Maximum exposure to loss $ 5,983 $ - PR Asset Portfolio 2013-1 International, LLC (In thousands) September 30, 2016 December 31, 2015 Assets Loans held-in-portfolio: Acquisition loan $ - $ 35,121 Advances under the working capital line 762 885 Advances under the advance facility 11,393 22,296 Total loans held-in-portfolio $ 12,155 $ 58,302 Accrued interest receivable $ 48 $ 169 Other assets: Investment in PR Asset Portfolio 2013-1 International, LLC $ 24,184 $ 25,094 Total assets $ 36,387 $ 83,565 Deposits $ (8,380) $ (11,772) Total liabilities $ (8,380) $ (11,772) Total net assets $ 28,007 $ 71,793 Maximum exposure to loss $ 28,007 $ 71,793 The Corporation determined that the maximum exposure to loss under a worst case scenario at September 30, 2016 would be not recovering the net assets held by the Corporation as of the reporting date. 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 it is involved with. The conclusion on the assessment of these non-consolidated VIEs has not changed since their initial evaluation. The Corporation concluded that it is still not the primary beneficiary of these VIEs, and therefore, these VIEs are not required to be consoli dated in the Corporation’s financial statements at September 30, 2016 . |
Related party transactions
Related party transactions | 9 Months Ended |
Sep. 30, 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 September 30, 2016 , the Corporation’s stake in EVERTEC was 15.91%.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. On May 26, 2016, EVERTEC, Inc. filed its Annual Report on Form 10-K for the year ended December 31, 2015, which included restated audited results for the years ended December 31, 2014 and 2013, correcting certain errors involved with the accounting for tax positions taken by EVERTEC in the 2010 tax year and other miscellaneou s accounting adjustments. The Corporation’s proportionate share of the cumulative impact of the EVERTEC restatement and other corrective adjustments to its financial statements was approximately $2.2 million and is reflected as part of other non-interest in come . The Corporation received $ 3.5 million in dividend distributions during the nine months ended September 30, 2016 from its investments in EVERTEC’s holding company ( September 30, 2015 - $ 3.5 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) September 30, 2016 December 31, 2015 Equity investment in EVERTEC $ 37,357 $ 33,590 The Corporation had the following financial condition balances outstanding with EVERTEC at September 30, 2016 and December 31, 2015 . Items that represent liabilities to the Corporation are presented with parenthesis. (In thousands) September 30, 2016 December 31, 2015 Accounts receivable (Other assets) $ 5,901 $ 3,148 Deposits (21,231) (23,973) Accounts payable (Other liabilities) (18,330) (16,192) Net total $ (33,660) $ (37,017) The Corporation’s proportionate share of income or loss from EVERTEC is included in other operating income in the conso lidated statements of operation s . The following table presents the Corporation’s proportionate share of EVERTEC’s income ( loss ) and changes in stockholder s ’ equity for the quarter s and nine months ended September 30, 2016 and 2015 . Quarter ended Nine months ended (In thousands) September 30, 2016 September 30, 2016 Share of income from the investment in EVERTEC $ 3,198 $ 9,397 Share of other changes in EVERTEC's stockholders' equity 426 (899) Share of EVERTEC's changes in equity recognized in income $ 3,624 $ 8,498 Quarter ended Nine months ended (In thousands) September 30, 2015 September 30, 2015 Share of income from the investment in EVERTEC $ 2,162 $ 8,077 Share of other changes in EVERTEC's stockholders' equity 600 1,165 Share of EVERTEC's changes in equity recognized in income $ 2,762 $ 9,242 The following tables present the transactions and service payments between the Corporation and EVERTEC (as an affiliate) and their impact on the results of operations for the quarter s and nine months ended September 30, 2016 and 2015 . Items that represent expenses to the Corporation are presented with parenthesis . Quarter ended Nine months ended (In thousands) September 30, 2016 September 30, 2016 Category Interest expense on deposits $ (15) $ (51) Interest expense ATH and credit cards interchange income from services to EVERTEC 7,533 21,948 Other service fees Rental income charged to EVERTEC 1,760 5,232 Net occupancy Processing fees on services provided by EVERTEC (44,923) (131,701) Professional fees Other services provided to EVERTEC 269 783 Other operating expenses Total $ (35,376) $ (103,789) Quarter ended Nine months ended (In thousands) September 30, 2015 September 30, 2015 Category Interest expense on deposits $ (15) $ (41) Interest expense ATH and credit cards interchange income from services to EVERTEC 6,961 20,614 Other service fees Rental income charged to EVERTEC 1,719 5,166 Net occupancy Processing fees on services provided by EVERTEC (41,147) (122,597) Professional fees Other services provided to EVERTEC 144 852 Other operating expenses Total $ (32,338) $ (96,006) EVERTEC had a letter of credit issued by BPPR, for the amount of $ 4.2 million at December 31, 2015 , whic h expired on February 10, 2016. 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) September 30, 2016 December 31, 2015 Equity investment in PRLP 2011 Holdings, LLC $ 9,586 $ 13,069 The Corporation had the following financial condition balances outstanding with PRLP 2011 Holdings, LLC at September 30, 2016 and December 31, 2015 . (In thousands) September 30, 2016 December 31, 2015 Loans $ - $ 980 Accrued interest receivable - 10 Deposits (non-interest bearing) (3,603) (18,808) Net total $ (3,603) $ (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 and nine months ended September 30, 2016 and 2015 . Quarter ended Nine months ended (In thousands) September 30, 2016 September 30, 2016 Share of income (loss) from the equity investment in PRLP 2011 Holdings, LLC $ 511 $ (83) Quarter ended Nine months ended (In thousands) September 30, 2015 September 30, 2015 Share of loss from the equity investment in PRLP 2011 Holdings, LLC $ (633) $ (2,463) 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 and nine months ended September 30, 2016 and 2015 . Quarter ended Nine months ended (In thousands) September 30, 2016 September 30, 2016 Category Interest income on loan to PRLP 2011 Holdings, LLC $ - $ 11 Interest income Quarter ended Nine months ended (In thousands) September 30, 2015 September 30, 2015 Category Interest income on loan to PRLP 2011 Holdings, LLC $ 48 $ 161 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) September 30, 2016 December 31, 2015 Equity investment in PR Asset Portfolio 2013-1 International, LLC $ 24,184 $ 25,094 The Corporation had the following financial condition balances outstanding with PR Asset Portfolio 2013-1 International, LLC, at September 30, 2016 a nd December 31, 2015 . (In thousands) September 30, 2016 December 31, 2015 Loans $ 12,155 $ 58,302 Accrued interest receivable 48 169 Deposits (8,380) (11,772) Net total $ 3,823 $ 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 income (loss) from PR Asset Portfolio 2013-1 International, LLC for the quarter s and nine months ended September 30, 2016 and 2015 . Quarter ended Nine months ended (In thousands) September 30, 2016 September 30, 2016 Share of loss from the equity investment in PR Asset Portfolio 2013-1 International, LLC $ (587) $ (910) Quarter ended Nine months ended (In thousands) September 30, 2015 September 30, 2015 Share of loss from the equity investment in PR Asset Portfolio 2013-1 International, LLC $ (1,177) $ (5,645) 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 and nine months ended September 30, 2016 and 2015 . Quarter ended Nine months ended (In thousands) September 30, 2016 September 30, 2016 Category Interest income on loan to PR Asset Portfolio 2013-1 International, LLC $ 189 $ 923 Interest income Interest expense on deposits (1) (3) Interest expense Total $ 188 $ 920 Quarter ended Nine months ended (In thousands) September 30, 2015 September 30, 2015 Category Interest income on loan to PR Asset Portfolio 2013-1 International, LLC $ 659 $ 2,272 Interest income Interest expense on deposits (1) (2) Interest expense Total $ 658 $ 2,270 |
Fair value measurement
Fair value measurement | 9 Months Ended |
Sep. 30, 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 instruments. Changes in the underlying assumptions used in calcula ting 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 and liabilities measured at fair value on a recurring basi s at September 30, 2016 and December 31, 2015 At September 30, 2016 (In thousands) Level 1 Level 2 Level 3 Total RECURRING FAIR VALUE MEASUREMENTS Assets Investment securities available-for-sale: U.S. Treasury securities $ - $ 1,619,416 $ - $ 1,619,416 Obligations of U.S. Government sponsored entities - 698,309 - 698,309 Obligations of Puerto Rico, States and political subdivisions - 26,976 - 26,976 Collateralized mortgage obligations - federal agencies - 1,339,251 - 1,339,251 Mortgage-backed securities - 3,931,332 1,397 3,932,729 Equity securities - 2,205 - 2,205 Other - 9,770 - 9,770 Total investment securities available-for-sale $ - $ 7,627,259 $ 1,397 $ 7,628,656 Trading account securities, excluding derivatives: Obligations of Puerto Rico, States and political subdivisions $ - $ 4,523 $ - $ 4,523 Collateralized mortgage obligations - - 1,371 1,371 Mortgage-backed securities - federal agencies - 47,154 5,250 52,404 Other - 13,663 623 14,286 Total trading account securities $ - $ 65,340 $ 7,244 $ 72,584 Mortgage servicing rights $ - $ - $ 200,354 $ 200,354 Derivatives - 13,427 - 13,427 Total assets measured at fair value on a recurring basis $ - $ 7,706,026 $ 208,995 $ 7,915,021 Liabilities Derivatives $ - $ (11,214) $ - $ (11,214) Contingent consideration - - (135,122) (135,122) Total liabilities measured at fair value on a recurring basis $ - $ (11,214) $ (135,122) $ (146,336) 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 nine months ended September 30, 2016 and 2015 and excludes nonrecurring fair value measurements of assets no longer outstanding as of the reporting date. Nine months ended September 30, 2016 (In thousands) Level 1 Level 2 Level 3 Total NONRECURRING FAIR VALUE MEASUREMENTS Assets Write-downs Loans [1] $ - $ - $ 61,309 $ 61,309 $ (31,097) Other real estate owned [2] - - 39,996 39,996 (8,482) Other foreclosed assets [2] - - 46 46 (2) Total assets measured at fair value on a nonrecurring basis $ - $ - $ 101,351 $ 101,351 $ (39,581) 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 d own to their fair value. Costs to sell are excluded from the reported fair value amount. Nine months ended September 30, 2015 (In thousands) Level 1 Level 2 Level 3 Total NONRECURRING FAIR VALUE MEASUREMENTS Assets Write-downs Loans [1] $ - $ - $ 114,204 $ 114,204 $ (87,260) Loans held-for-sale [2] - - 47,458 47,458 (18) Other real estate owned [3] - 137 55,616 55,753 (40,059) Other foreclosed assets [3] - - 91 91 (836) Total assets measured at fair value on a nonrecurring basis $ - $ 137 $ 217,369 $ 217,506 $ (128,173) [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 and nine months ended September 30, 2016 and 2015 . Quarter ended September 30, 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 June 30, 2016 $ 1,398 $ 1,399 $ 5,364 $ 640 $ 203,577 $ 212,378 $ (128,511) $ (128,511) Gains (losses) included in earnings - 10 (32) (17) (6,062) (6,101) (6,611) (6,611) Gains (losses) included in OCI (1) - - - - (1) - - Additions - 5 128 - 2,854 2,987 - - Sales - - (110) - - (110) - - Settlements - (43) (100) - (15) (158) - - Balance at September 30, 2016 $ 1,397 $ 1,371 $ 5,250 $ 623 $ 200,354 $ 208,995 $ (135,122) $ (135,122) Changes in unrealized gains (losses) included in earnings relating to assets still held at September 30, 2016 $ - $ 10 $ (29) $ 8 $ (1,082) $ (1,093) $ (6,611) $ (6,611) Nine months ended September 30, 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) (3) 85 (64) (18,879) (18,863) (14,742) (14,742) Gains (losses) included in OCI 15 - - - - 15 - - Additions - 214 1,076 - 7,843 9,133 - - Sales - (308) (1,826) - - (2,134) - - Settlements (50) (363) (539) - (15) (967) - - Balance at September 30, 2016 $ 1,397 $ 1,371 $ 5,250 $ 623 $ 200,354 $ 208,995 $ (135,122) $ (135,122) Changes in unrealized gains (losses) included in earnings relating to assets still held at September 30, 2016 $ - $ 4 $ 74 $ 29 $ (4,315) $ (4,208) $ (14,742) $ (14,742) Quarter ended September 30, 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 June 30, 2015 $ 1,445 $ 1,192 $ 6,046 $ 1,619 $ 206,357 $ 216,659 $ (124,837) $ (124,837) Gains (losses) included in earnings (1) 3 (12) 42 (4,408) (4,376) (1,058) (1,058) Gains (losses) included in OCI 5 - - - - 5 - - Additions - 294 134 - 8,902 9,330 - - Settlements - (49) (197) - - (246) - - Balance at September 30, 2015 $ 1,449 $ 1,440 $ 5,971 $ 1,661 $ 210,851 $ 221,372 $ (125,895) $ (125,895) Changes in unrealized gains (losses) included in earnings relating to assets still held at September 30, 2015 $ - $ 4 $ (4) $ 58 $ (112) $ (54) $ (1,058) $ (1,058) Nine months ended September 30, 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 (1) (1) 2 98 (11,254) (11,156) 6,777 6,777 Gains (losses) included in OCI 7 - - - - 7 - - Additions 118 332 392 - 73,411 74,253 - - Sales - (44) (80) - - (124) - - Settlements - (222) (572) - - (794) - - Adjustments - - - - - - 962 962 Balance at September 30, 2015 $ 1,449 $ 1,440 $ 5,971 $ 1,661 $ 210,851 $ 221,372 $ (125,895) $ (125,895) Changes in unrealized gains (losses) included in earnings relating to assets still held at September 30, 2015 $ - $ 2 $ 20 $ 200 $ 1,774 $ 1,996 $ 6,777 $ 6,777 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 quarters and nine months ended September 30, 2016 and 2015 . Gains and losses (realized and unrealized) included in earnings for the quarter s and nine months ended September 30, 2016 and 2015 for Level 3 assets and liabilities included in the previous tables are reported in the consolidated statement of operations as follows: Quarter ended September 30, 2016 Nine months ended September 30, 2016 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) $ - FDIC loss share (expense) income (6,611) (6,611) (14,742) (14,742) Mortgage banking activities (6,062) (1,082) (18,879) (4,315) Trading account (loss) profit (39) (11) 18 107 Total $ (12,712) $ (7,704) $ (33,605) $ (18,950) Quarter ended September 30, 2015 Nine months ended September 30, 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 $ (1) $ - $ (1) $ - FDIC loss share (expense) income (1,058) (1,058) 6,777 6,777 Mortgage banking activities (4,408) (112) (11,254) 1,774 Trading account (loss) profit 33 58 99 222 Total $ (5,434) $ (1,112) $ (4,379) $ 8,773 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 September 30, (In thousands) 2016 Valuation technique Unobservable inputs Weighted average (range) CMO's - trading $ 1,371 Discounted cash flow model Weighted average life 3.0 years (0.3 - 4.4 years) Yield 3.4% (0.7% - 4.2%) Prepayment speed 20.6% (18.0% - 26.9%) Other - trading $ 623 Discounted cash flow model Weighted average life 5.4 years Yield 12.3 % Prepayment speed 10.8 % Mortgage servicing rights $ 200,354 Discounted cash flow model Prepayment speed 5.7% (0.2% - 13.8%) Weighted average life 6.9 years (0.1 - 15.7years) Discount rate 11.2% (9.5% - 15.0%) Contingent consideration $ (134,487) Discounted cash flow model Credit loss rate on covered loans 3.6% (0.0% - 100.0%) Risk premium component of discount rate 4.7 % Loans held-in-portfolio $ 61,257 [1] External appraisal Haircut applied on external appraisals 40.0% (39.5% - 40.0%) Other real estate owned $ 39,424 [2] External appraisal Haircut applied on external appraisals 18.6% (10.0% - 40.0%) [1] Loans held-in-portfolio in which haircuts were not applied to external appraisals were excluded from this table. [2] Other real estate owned in which haircuts were not applied to external appraisals were excluded from this table. 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 | 9 Months Ended |
Sep. 30, 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 asset or obligation 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 September 30, 2016 and December 31, 2015 , as applicabl e. 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 generat ing businesses and anticipated future business activities, that is, they do not represent the Corporation’s value as a going concern. There have been no changes in 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 from those disclosed in the 2015 Form 10-K. The following tables present the carrying amount 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. September 30, 2016 Carrying (In thousands) amount Level 1 Level 2 Level 3 Fair value Financial Assets: Cash and due from banks $ 350,545 $ 350,545 $ - $ - $ 350,545 Money market investments 3,963,495 3,929,352 34,143 - 3,963,495 Trading account securities, excluding derivatives [1] 72,584 - 65,340 7,244 72,584 Investment securities available-for-sale [1] 7,628,656 - 7,627,259 1,397 7,628,656 Investment securities held-to-maturity: Obligations of Puerto Rico, States and political subdivisions $ 95,895 $ - $ - $ 77,366 $ 77,366 Collateralized mortgage obligation-federal agency 78 - - 83 83 Other 2,000 - 1,746 215 1,961 Total investment securities held-to-maturity $ 97,973 $ - $ 1,746 $ 77,664 $ 79,410 Other investment securities: FHLB stock $ 59,111 $ - $ 59,111 $ - $ 59,111 FRB stock 94,559 - 94,559 - 94,559 Trust preferred securities 13,198 - 13,198 - 13,198 Other investments 1,923 - - 5,209 5,209 Total other investment securities $ 168,791 $ - $ 166,868 $ 5,209 $ 172,077 Loans held-for-sale $ 72,076 $ - $ 530 $ 73,726 $ 74,256 Loans not covered under loss sharing agreement with the FDIC 22,070,379 - - 20,416,444 20,416,444 Loans covered under loss sharing agreements with the FDIC 557,949 - - 553,431 553,431 FDIC loss share asset 152,467 - - 144,674 144,674 Mortgage servicing rights 200,354 - - 200,354 200,354 Derivatives 13,427 - 13,427 - 13,427 September 30, 2016 Carrying (In thousands) amount Level 1 Level 2 Level 3 Fair value Financial Liabilities: Deposits: Demand deposits $ 22,425,039 $ - $ 22,425,039 $ - $ 22,425,039 Time deposits 7,902,006 - 7,891,718 - 7,891,718 Total deposits $ 30,327,045 $ - $ 30,316,757 $ - $ 30,316,757 Federal funds purchased and assets sold under agreements to repurchase $ 765,251 $ - $ 764,738 $ - $ 764,738 Other short-term borrowings [2] $ 1,200 $ - $ 1,200 $ - $ 1,200 Notes payable: FHLB advances $ 696,628 $ - $ 707,420 $ - $ 707,420 Unsecured senior debt securities 444,268 - 464,589 - 464,589 Junior subordinated deferrable interest debentures (related to trust preferred securities) 439,316 - 401,796 - 401,796 Others 18,321 - - 18,321 18,321 Total notes payable $ 1,598,533 $ - $ 1,573,805 $ 18,321 $ 1,592,126 Derivatives $ 11,214 $ - $ 11,214 $ - $ 11,214 Contingent consideration $ 135,122 $ - $ - $ 135,122 $ 135,122 [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 other 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 [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 other short-term borrowings. The notional amount of commitments to extend credit at September 30, 2016 and December 31, 2015 is $ 7.6 billion and $ 7.4 billion, respectively, and represents the unused portion of credit facilities granted to customers. The notional amount of letters of credit at September 30, 2016 and December 31, 2015 is $ 43 million and $ 52 million, respectively, and represents the contractual amount that is required to be paid in the event of nonperformance. The fair value of commitments to extend credit and letters of credit, which are based on the fees charged to enter into those agreements, are n ot material to Popular’s financial statements. |
Net income (loss) per common sh
Net income (loss) per common share | 9 Months Ended |
Sep. 30, 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 quarters and nine months ended September 30, 2016 and 2015 : Quarters ended September 30, Nine months ended September 30, (In thousands, except per share information) 2016 2015 2016 2015 Net income from continuing operations $ 46,810 $ 85,649 $ 220,796 $ 756,571 Net income from discontinued operations - (9) - 1,347 Preferred stock dividends (930) (931) (2,792) (2,792) Net income applicable to common stock $ 45,880 $ 84,709 $ 218,004 $ 755,126 Average common shares outstanding 103,296,443 102,969,214 103,243,851 102,923,018 Average potential dilutive common shares 168,942 181,268 140,098 214,744 Average common shares outstanding - assuming dilution 103,465,385 103,150,482 103,383,949 103,137,762 Basic EPS from continuing operations $ 0.44 $ 0.82 $ 2.11 $ 7.33 Basic EPS from discontinued operations $ ― $ ― $ ― $ 0.01 Total Basic EPS $ 0.44 $ 0.82 $ 2.11 $ 7.34 Diluted EPS from continuing operations $ 0.44 $ 0.82 $ 2.11 $ 7.31 Diluted EPS from discontinued operations $ ― $ ― $ ― $ 0.01 Total Diluted EPS $ 0.44 $ 0.82 $ 2.11 $ 7.32 For the quarter and nine months ended September 30, 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 method, refer to Note 37 of the consolidated financial statements included in the 2015 Form 10-K. For the quarters and nine months ended September 30, 2016 and 2015 , there were no stock options outstanding. |
Other service fees
Other service fees | 9 Months Ended |
Sep. 30, 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 September 30, Nine months ended September 30, (In thousands) 2016 2015 2016 2015 Debit card fees $ 11,483 $ 11,288 $ 34,153 $ 34,408 Insurance fees 15,943 14,517 42,678 40,163 Credit card fees 17,644 16,879 52,202 50,639 Sale and administration of investment products 5,542 5,737 15,798 18,269 Trust fees 4,968 4,403 14,029 13,919 Other fees 3,589 3,291 10,636 11,764 Total other services fees $ 59,169 $ 56,115 $ 169,496 $ 169,162 |
FDIC loss share (expense) incom
FDIC loss share (expense) income | 9 Months Ended |
Sep. 30, 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 September 30, Nine months ended September 30, (In thousands) 2016 2015 2016 2015 Amortization of loss-share indemnification asset $ (1,259) $ (3,931) $ (9,337) $ (62,312) 80% mirror accounting on credit impairment losses (reversal) [1] 659 (183) (959) 15,710 80% mirror accounting on reimbursable expenses 853 6,276 7,038 70,551 80% mirror accounting on recoveries on covered assets, including rental income on OREOs, subject to reimbursement to the FDIC (522) - (5,123) (7,822) Change in true-up payment obligation (6,611) (1,058) (14,742) 6,778 Arbitration award expense [2] (54,924) - (54,924) - Other 81 103 602 1,516 Total FDIC loss-share (expense) income $ (61,723) $ 1,207 $ (77,445) $ 24,421 [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. [2] Refer to Note 23, Commitments and Contingencies, for additional information on the FDIC arbitration award. |
Pension and postretirement bene
Pension and postretirement benefits | 9 Months Ended |
Sep. 30, 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 September 30, Quarters ended September 30, (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 4,881 4,465 332 311 Total net periodic pension cost (benefit) $ 1,549 $ 812 $ 142 $ 129 Pension Plans Benefit Restoration Plans Nine months ended September 30, Nine months ended September 30, (In thousands) 2016 2015 2016 2015 Interest Cost $ 18,873 $ 22,209 $ 1,044 $ 1,222 Expected return on plan assets (28,869) (33,168) (1,614) (1,768) Amortization of net loss 14,640 13,395 996 933 Total net periodic pension cost (benefit) $ 4,644 $ 2,436 $ 426 $ 387 During the quarter ended September 30, 2016 the Corporation made a contribution to the pension and benefit restoration plans of $ 60 million . The total contributions expected to be paid during the year 2016 for the pension and benefit restoration plans amount to approximately $ 60.2 million . The Corporation also provides certain postretirement health care benefits for retired employees of certain subsidiaries. The table that follows presents the co mponents of net periodic postretirement benefit cost. Postretirement Benefit Plan Quarters ended September 30, Nine months ended September 30, (In thousands) 2016 2015 2016 2015 Service cost $ 289 $ 367 $ 867 $ 1,103 Interest cost 1,505 1,589 4,515 4,767 Amortization of prior service cost (950) (950) (2,850) (2,850) Amortization of net loss 275 249 825 747 Total net periodic postretirement benefit cost $ 1,119 $ 1,255 $ 3,357 $ 3,767 Contributions made to the postretirement benefit plan for the quarter ended September 30, 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 | 9 Months Ended |
Sep. 30, 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 the original terms of the grants made under t he 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 Comm ittee 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 price equal to its fair market value at the gra nt 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 unissued shares of common stock to cover each gr ant. 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 after each subsequent year, subject to an acc eleration clause at termination of employment due to retirement . As of September 30, 2016 there were no stock options outstanding. During the first quarter of 2015 , all stock options outstanding which amounted to 44,797 with a weighted average exercise price of $ 272 expired . I ncentive 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 2014 and thereafter was modified as follows, the fi rst part ratably over four years commencing at the date of the grant and the second part is vested 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 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 F inal Rule vest in two years from grant date. The following table summarizes the restricted stock and performance shares 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 344,488 25.86 Quantity adjusted by TSR factor 51,340 26.13 Vested (429,984) 27.39 Forfeited (1,991) 31.50 Non-vested at September 30, 2016 459,584 $ 27.01 During the quarter ended September 30, 2016 and 2015 no shares of restricted stock we re awarded to management under the Incentive Plan. For the nine -month period ended September 30, 2016 , 279,890 shares of restricted stock ( September 30, 2015 – 231,830 ) were awarded to management under the Incentive Plan, from which no shares were awarded to management consistent with the requirements of the TARP Interim Final Rule. Beginning in 2015, the Corporation authorized the issuance of performanc e shares, in addition to restricted shares, under the 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 perform ance 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 de termined 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 150% of target based on bot h market (TSR) and performance (EPS) conditions. The 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. During the quarter ended September 30, 2016 and 2015 no performance shares were granted. For the nine - month period ended September 30, 2016 , 64,598 ( September 30, 2015 - 91,984 ) performance shares were granted under this plan. During the quarter ended September 30, 2016 , the Corporation recognized $ 1.0 million of restricted stock expense related to management incentive awards, with a tax benefit of $ 0.2 million ( September 30, 2015 - $ 1.9 million, with a tax benefit of $ 0.3 million). For the nine -month period ended September 30, 2016 , the Corporation recognized $ 6.6 million of restricted stock expense related to management incentive awards, with a tax benefit of $ 1.2 million ( September 30, 2015 - $ 9.4 million, with a tax benefit of $ 1.4 million). For the nine -month period ended September 30, 2016 , the fair market value of the restricted stock vested was $ 6.8 million at grant date and $ 6.5 million at vesting date. This triggers a shortfall of $ 0.1 million of which $ 30 thousand was recorded as a windfall pool in additional paid in capital. No windfal l pool was recorded for the remaining $ 87 thousand due to the valuation allowance of the deferred tax asset at the Holding Company . During the quarter ended September 30, 2016 the Corporation recognized $ 0.1 million of performance shares expense, with a tax ben efit of $ 11 thousand ( September 30, 2015 - $ 95 thousand , with a tax benefit of $ 6 thousand ) . For the nine - month period ended September 30, 2016 , the Corporation recognized $ 1.3 million of performance shares expense, with a tax benefit of $ 0.1 million ( September 30, 2015 - $ 2.1 million, with a tax benefit of $ 0.2 million) . The total unrecognized compensation cost related to non-vested restricted stock awards and performance share s to members of management at September 30, 2016 was $ 8.5 million and is expected to be recognized over a weighted-average period of 2.4 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 40,517 29.77 Vested (40,517) 29.77 Forfeited - - Non-vested at September 30, 2016 - $ - During the quarter ended September 30, 2016 , the Corporation granted no shares of restricted stock to members of the Board of Directors of Popular, Inc. ( September 30, 2015 – 1,994 ). During this period, the Corporation recognized $ 0.3 million of restricted stock expense related to these restricted stock grants, with a tax benefit of $ 31 thousand ( September 30, 2015 - $ 0.1 million, with a tax benefit of $ 24 thousand). For the nine -month period ended September 30, 2016 , the Corporation granted 40,517 shares of restricted stock to members of the Board of Directors of Popular, Inc., which became vested at grant date ( September 30, 2015 – 20,023 ). During this perio d, the Corporation recognized $ 0.8 million of restricted stock expense related to these restricted stock grants, with a tax benefit of $ 84 thousand ( September 30, 2015 - $ 0.4 million, with a tax benefit of $ 59 thou sand). The fair value at vesting date of the restricted stock vested during the nine months ended September 30, 2016 for directors was $ 1.2 million. |
Income taxes
Income taxes | 9 Months Ended |
Sep. 30, 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 September 30, 2016 September 30, 2015 (In thousands) Amount % of pre-tax income Amount % of pre-tax income Computed income tax expense at statutory rates $ 24,434 39 % $ 42,225 39 % Net benefit of tax exempt interest income (15,620) (25) (14,615) (13) Deferred tax asset valuation allowance 5,698 9 (670) (1) Difference in tax rates due to multiple jurisdictions (897) (1) (1,129) (1) Effect of income subject to preferential tax rate 6,364 10 (3,610) (3) Unrecognized tax benefits (4,442) (7) - - State and local taxes 1,557 2 586 - Others (1,255) (2) (167) - Income tax expense (benefit) $ 15,839 25 % $ 22,620 21 % Nine months ended September 30, 2016 September 30, 2015 (In thousands) Amount % of pre-tax income Amount % of pre-tax income Computed income tax expense at statutory rates $ 117,525 39 % $ 108,508 39 % Net benefit of tax exempt interest income (47,094) (16) (45,784) (16) Deferred tax asset valuation allowance 14,407 5 (537,737) (193) Difference in tax rates due to multiple jurisdictions (2,874) (1) (1,946) (1) Effect of income subject to preferential tax rate (1,772) (1) (5,488) (2) Unrecognized tax benefits (4,442) (1) - - State and local taxes 6,642 2 3,305 1 Others (1,842) (1) 798 - Income tax expense (benefit) $ 80,550 26 % $ (478,344) (172) % Income tax expense amounted to $15.8 million for the quarter ended September 30, 2016 , compared with an income tax expense of $22.6 million for the same quarter of 2015. The reduction in income tax expense was primarily due to lower income before tax mainly in the Corporation’s Puerto Rico operations. Additionally, during the third quarter of 2016 a reversal of $4.4 million in the reserve for uncertain tax positions, including interests, was recognized due to the expiration of the statute of limitation in the P.R. operations. For the nine months period ended September 30, 2016, the increase in income tax expense as compared to the same period of 2015 was mainly due to recognition during 2015 of a partial reversal of the valuation allowance on the deferred tax asset from the U.S. operations amounting to $544.9 million. The following table presents a breakdown of the significant components of the Corporation’s deferred tax assets and liabilities. (In thousands) September 30, 2016 December 31, 2015 Deferred tax assets: Tax credits available for carryforward $ 18,569 $ 13,651 Net operating loss and other carryforward available 1,244,901 1,262,197 Postretirement and pension benefits 88,679 116,036 Deferred loan origination fees 5,657 6,420 Allowance for loan losses 659,312 670,592 Deferred gains 5,131 5,966 Accelerated depreciation 9,345 8,335 Intercompany deferred gains 2,229 2,743 Difference in outside basis from pass-through entities 13,186 12,684 Other temporary differences 32,482 29,208 Total gross deferred tax assets 2,079,491 2,127,832 Deferred tax liabilities: FDIC-assisted transaction 80,947 90,778 Indefinite-lived intangibles 71,375 63,573 Unrealized net gain on trading and available-for-sale securities 42,268 22,281 Other temporary differences 8,343 6,670 Total gross deferred tax liabilities 202,933 183,302 Valuation allowance 646,606 642,727 Net deferred tax asset $ 1,229,952 $ 1,301,803 The net deferred tax asset shown in the table above at September 30, 2016 is reflected in the consolidated statements of financial condition as $ 1.2 billion in net deferred tax assets in the “Other assets” caption (December 31, 2015 - $ 1.3 billion) and $ 1.4 million 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 Corpor ation. 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. Th e 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 b oth 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 per iod. 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 carryforw ards, 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 de ferred tax asset from the U.S. operations, amounting to $1.1 billion and comprised mainly of net operating losses, 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 obligations. The recent historical level of book income adjusted by permanent differences, together with the estimated earnings after the reorganiz ation of the U.S. operations and additional estimated earnings from the Doral Bank Transaction were objective positive evidence considered by the Corporation. As of September 30, 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 management 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. Managemen t will continue to evaluate the realization of the deferred tax asset each quarter and adjust as deemed necessary. At September 30, 2016 a valuation allowance is recorded on the deferred tax asset of the U.S. operation in the amount of $602 million. At September 30, 2016 , the Corporation’s net deferred tax assets related to its Puerto Rico operations amounted to $ 697 million. The Corporation’s Puerto Rico Banking operation is not in a cumulative three year loss position, taking into account taxable i ncome exclusive of reversing temporary differences, and has sustained profitability for the three year period ended September 30, 2016 .This is considered a strong piece of objectively verifiable positive evidence that outweights any negative evidence conside red by management in the evaluation of the realization of the deferred tax asset. Based on this evidence and management’s estimate 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 account taxable income exclusive of reversing temporary differences, for the three year period ended September 30, 2016 . However, it ha s sustained losses for year ended December 31, 2015 and the period ended September 30, 2016 . Management expect these losses will be a trend in 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 realization of all deferred tax asset. After weighting of all positive and negative evidence management concluded, as of the reporti ng date, that it is more likely than not that the Holding Company will not be able to realize any portion of the deferred tax assets, 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 $45 million as of September 30, 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 0.2 0.3 Additions for tax positions taken in prior years - January through March 0.2 - Reduction as a result of settlements - January through March - (0.5) Balance at March 31 $ 9.4 $ 7.8 Additions for tax positions - April through June 0.3 0.3 Balance at June 30 $ 9.7 $ 8.1 Additions for tax positions - July through September 0.3 0.6 Additions for tax positions taken in prior years - July through September 0.1 - Reduction as a result of lapse of statute of limitations - July through September (3.0) - Balance at September 30 $ 7.1 $ 8.7 At September 30, 2016 , the total amount of interest recognized in the statement of financial condition approximated $ 2.8 million (December 31, 2015 - $3.2 million). The total interest expense recognized during the nine months ended September 30, 2016 was $ 1.0 million (December 31, 2015 - $57 thousand), which is net of the reversal of $1.4 million due to the expiration of the statute of limitations . Management determined that at September 30, 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 in incom e 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 unrecogn ized tax benefits, including U.S. and Puerto Rico, that if recognized, would affect the Corporation’s effective tax rate, was approximately $ 8.6 million at September 30, 2016 (December 31, 2015 - $ 11.2 million ). The amount of unre cognized 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 le vel 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, various U.S. states and political subdivisions, and foreign jurisdictions. At September 30, 2016 , the following years remain subject to examination in the U.S. Federal jurisdiction: 2013 and thereafter; and in the Puerto Rico jurisdiction, 2012 and thereaft er. The Corporation anticipates a reduction in the total amount of unrecognized tax benefits within the next 12 months, which could amount to approximately $ 4.8 million. |
Supplemental disclosure on the
Supplemental disclosure on the consolidated statements of cash flows | 9 Months Ended |
Sep. 30, 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 nine months ended September 30, 2016 and September 30, 2015 are listed in the following table: (In thousands) September 30, 2016 September 30, 2015 Non-cash activities: Loans transferred to other real estate $ 93,412 $ 104,778 Loans transferred to other property 22,408 29,034 Total loans transferred to foreclosed assets 115,820 133,812 Financed sales of other real estate assets 11,861 19,469 Financed sales of other foreclosed assets 13,426 19,516 Total financed sales of foreclosed assets 25,287 38,985 Transfers from loans held-in-portfolio to loans held-for-sale - 72,501 Transfers from loans held-for-sale to loans held-in-portfolio 5,947 9,113 Transfers from trading securities to available-for-sale securities - 5,523 Loans securitized into investment securities [1] 594,094 825,126 Trades receivable from brokers and counterparties 80,125 125,625 Trades payable to brokers and counterparties 22,174 24,812 Recognition of mortgage servicing rights on securitizations or asset transfers 7,886 10,798 [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 as of June 30, 2015 net cash proceeds of approximately $ 731 million for consideration of the assets and liabilities acquired. |
Segment Reporting
Segment Reporting | 9 Months Ended |
Sep. 30, 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 segm ents 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 pr oducts and services offered by the segments. 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 September 30, 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 mid dle 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 incorpo rates 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 consu mer 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 con sumer 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 managemen t 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 servic es 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 c eased 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 transacti on, 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. 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, Leon . The Corporate group also includes the expenses of certain corporate areas that are identified as critical to the organiza tion: 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 ar e 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 September 30, 2016 Banco Popular Banco Popular Intersegment (In thousands) de Puerto Rico North America Eliminations Net interest income $ 303,656 $ 65,339 $ (281) Provision for loan losses 37,064 6,313 - Non-interest income 60,453 5,381 28 Amortization of intangibles 2,931 166 - Goodwill impairment charge 3,801 - - Depreciation expense 9,774 1,666 - Other operating expenses 246,451 47,374 (639) Income tax expense 14,479 6,037 162 Net income $ 49,609 $ 9,164 $ 224 Segment assets $ 30,403,259 $ 8,450,901 $ (16,818) For the quarter ended September 30, 2016 Reportable (In thousands) Segments Corporate Eliminations Total Popular, Inc. Net interest income (expense) $ 368,714 $ (15,140) $ 113 $ 353,687 Provision for loan losses 43,377 (33) - 43,344 Non-interest income 65,862 10,468 (352) 75,978 Amortization of intangibles 3,097 - - 3,097 Goodwill impairment charge 3,801 - - 3,801 Depreciation expense 11,440 144 - 11,584 Other operating expenses 293,186 12,164 (160) 305,190 Income tax expense (benefit) 20,678 (4,807) (32) 15,839 Net income (loss) $ 58,997 $ (12,140) $ (47) $ 46,810 Segment assets $ 38,837,342 $ 4,949,819 $ (4,732,865) $ 39,054,296 For the nine months ended September 30, 2016 Banco Popular Banco Popular Intersegment (In thousands) de Puerto Rico North America Eliminations Net interest income $ 919,366 $ 193,102 $ (281) Provision for loan losses 116,987 11,699 - Non-interest income 257,260 15,581 28 Amortization of intangibles 8,809 499 - Goodwill impairment charge 3,801 - - Depreciation expense 29,885 4,343 - Other operating expenses 705,825 133,101 (639) Income tax expense 77,651 25,597 162 Net income $ 233,668 $ 33,444 $ 224 Segment assets $ 30,403,259 $ 8,450,901 $ (16,818) For the nine months ended September 30, 2016 Reportable (In thousands) Segments Corporate Eliminations Total Popular, Inc. Net interest income (expense) $ 1,112,187 $ (45,537) $ - $ 1,066,650 Provision (reversal fof provision) for loan losses 128,686 (35) - 128,651 Non-interest income 272,869 26,707 (1,465) 298,111 Amortization of intangibles 9,308 - - 9,308 Goodwill impairment charge 3,801 - - 3,801 Depreciation expense 34,228 497 - 34,725 Other operating expenses 838,287 50,613 (1,970) 886,930 Income tax expense (benefit) 103,410 (23,068) 208 80,550 Net income (loss) $ 267,336 $ (46,837) $ 297 $ 220,796 Segment assets $ 38,837,342 4,949,819 (4,732,865) 39,054,296 2015 For the quarter ended September 30, 2015 Banco Popular Banco Popular Intersegment (In thousands) de Puerto Rico North America Eliminations Net interest income $ 303,834 $ 62,415 $ - Provision for loan losses 66,011 813 - Non-interest income 116,765 5,426 - Amortization of intangibles 3,194 318 - Depreciation expense 9,964 1,368 - Other operating expenses 232,211 42,503 - Income tax expense 27,778 1,374 - Net income $ 81,441 $ 21,465 $ - Segment assets $ 27,968,091 $ 7,477,202 $ (133,472) For the quarter ended September 30, 2015 Reportable (In thousands) Segments Corporate Eliminations Total Popular, Inc. Net interest income (expense) $ 366,249 $ (15,514) $ - $ 350,735 Provision (reversal of provision) for loan losses 66,824 (146) - 66,678 Non-interest income 122,191 8,974 (56) 131,109 Amortization of intangibles 3,512 - - 3,512 Depreciation expense 11,332 178 - 11,510 Other operating expenses 274,714 17,841 (680) 291,875 Income tax expense (benefit) 29,152 (6,775) 243 22,620 Net income (loss) $ 102,906 $ (17,638) $ 381 $ 85,649 Segment assets $ 35,311,821 $ 4,916,194 $ (4,697,221) $ 35,530,794 For the nine months ended September 30, 2015 Banco Popular Banco Popular Intersegment (In thousands) de Puerto Rico North America Eliminations Net interest income $ 926,531 $ 176,447 $ - Provision (reversal of provision) for loan losses 184,317 (1,450) - Non-interest income 346,030 17,262 125 Amortization of intangibles 7,756 741 - Depreciation expense 30,175 4,731 - Other operating expenses 739,672 145,460 - Income tax expense (benefit) 82,539 (541,522) - Net income $ 228,102 $ 585,749 $ 125 Segment assets 27,968,091 7,477,202 (133,472) For the nine months ended September 30, 2015 Reportable (In thousands) Segments Corporate Eliminations Total Popular, Inc. Net interest income (expense) $ 1,102,978 $ (46,495) $ - $ 1,056,483 Provision for loan losses 182,867 80 - 182,947 Non-interest income 363,417 25,099 (1,413) 387,103 Amortization of intangibles 8,497 - - 8,497 Depreciation expense 34,906 553 - 35,459 Other operating expenses 885,132 55,434 (2,110) 938,456 Income tax benefit (458,983) (19,633) 272 (478,344) Net income (loss) $ 813,976 $ (57,830) $ 425 $ 756,571 Segment assets 35,311,821 4,916,194 (4,697,221) 35,530,794 Additional disclosures with respect to the Banco Popular de Puerto Rico reportable segment are as follows: 2016 For the quarter ended September 30, 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 $ 116,362 $ 186,445 $ 1,379 $ (530) $ 303,656 Provision for loan losses 13,213 23,851 - - 37,064 Non-interest income (24,191) 59,284 25,444 (84) 60,453 Amortization of intangibles 22 1,838 1,071 - 2,931 Goodwill impairment charge - - 3,801 - 3,801 Depreciation expense 4,188 5,380 206 - 9,774 Other operating expenses 60,630 165,124 20,781 (84) 246,451 Income tax expense 7,542 6,894 43 - 14,479 Net income $ 6,576 $ 42,642 $ 921 $ (530) $ 49,609 Segment assets $ 16,032,323 $ 17,753,118 $ 371,027 $ (3,753,209) $ 30,403,259 For the nine months ended September 30, 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 $ 355,061 $ 557,489 $ 4,674 $ 2,142 $ 919,366 Provision for loan losses 26,969 90,018 - - 116,987 Non-interest income 16,776 168,860 71,883 (259) 257,260 Amortization of intangibles 92 5,484 3,233 - 8,809 Goodwill impairment charge - - 3,801 - 3,801 Depreciation expense 12,735 16,491 659 - 29,885 Other operating expenses 183,706 467,448 54,930 (259) 705,825 Income tax expense 48,939 24,410 4,302 - 77,651 Net income $ 99,396 $ 122,498 $ 9,632 $ 2,142 $ 233,668 Segment assets $ 16,032,323 $ 17,753,118 $ 371,027 $ (3,753,209) $ 30,403,259 2015 For the quarter ended September 30, 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 $ 111,605 $ 185,220 $ 2,186 $ 4,823 $ 303,834 Provision for loan losses 21,285 44,726 - - 66,011 Non-interest income 30,997 62,367 23,501 (100) 116,765 Amortization of intangibles 7 2,056 1,131 - 3,194 Depreciation expense 3,682 6,005 277 - 9,964 Other operating expenses 55,591 158,842 17,878 (100) 232,211 Income tax expense 19,845 6,813 1,120 - 27,778 Net income $ 42,192 $ 29,145 $ 5,281 $ 4,823 $ 81,441 Segment assets $ 11,523,460 $ 16,299,451 $ 503,062 $ (357,882) $ 27,968,091 For the nine months ended September 30, 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 $ 346,189 $ 569,306 $ 6,209 $ 4,827 $ 926,531 Provision for loan losses 86,422 97,895 - - 184,317 Non-interest income 95,584 183,362 67,379 (295) 346,030 Amortization of intangibles 13 5,740 2,003 - 7,756 Depreciation expense 12,727 16,599 849 - 30,175 Other operating expenses 224,719 463,224 52,024 (295) 739,672 Income tax expense 32,503 44,121 5,915 - 82,539 Net income $ 85,389 $ 125,089 $ 12,797 $ 4,827 $ 228,102 Segment assets $ 11,523,460 $ 16,299,451 $ 503,062 $ (357,882) $ 27,968,091 Geographic Information Quarter ended Nine months ended (in thousands) September 30, 2016 September 30, 2015 September 30, 2016 September 30, 2015 Revenues: Puerto Rico $ 333,006 $ 395,086 $ 1,097,944 $ 1,196,112 United States 77,816 67,418 209,999 191,363 Other 18,843 19,340 56,818 56,111 Total consolidated revenues $ 429,665 $ 481,844 $ 1,364,761 $ 1,443,586 [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) September 30, 2016 December 31, 2015 Puerto Rico Total assets $ 29,405,343 $ 26,764,184 Loans 16,990,595 17,477,070 Deposits 23,410,341 20,893,232 United States Total assets $ 8,738,087 $ 7,859,217 Loans 5,515,849 4,873,504 Deposits 5,857,025 5,288,886 Other Total assets $ 910,866 $ 1,138,332 Loans 749,815 778,656 Deposits [1] 1,059,679 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 | 9 Months Ended |
Sep. 30, 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 September 30, 2016 and December 31, 2015 , and the results of their operations and cash flows for periods ended September 30, 2016 and 2015 . PNA is an operating, wholly-owned subsidiary of PIHC and is the holding company of its wholly-owned subsidiaries: Equity One, Inc. an d 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 September 30, 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 $ 7,979 $ 593 $ 350,244 $ (8,271) $ 350,545 Money market investments 284,315 13,096 3,964,980 (298,896) 3,963,495 Trading account securities, at fair value 2,495 - 70,210 (121) 72,584 Investment securities available-for-sale, at fair value - - 7,628,656 - 7,628,656 Investment securities held-to-maturity, at amortized cost - - 97,973 - 97,973 Other investment securities, at lower of cost or realizable value 9,850 4,492 154,449 - 168,791 Investment in subsidiaries 5,791,238 1,843,518 - (7,634,756) - Loans held-for-sale, at lower of cost or fair value - - 72,076 - 72,076 Loans held-in-portfolio: Loans not covered under loss-sharing agreements with the FDIC 1,152 - 22,713,206 - 22,714,358 Loans covered under loss-sharing agreements with the FDIC - - 588,211 - 588,211 Less - Unearned income - - 118,386 - 118,386 Allowance for loan losses 1 - 555,854 - 555,855 Total loans held-in-portfolio, net 1,151 - 22,627,177 - 22,628,328 FDIC loss-share asset - - 152,467 - 152,467 Premises and equipment, net 3,065 - 534,910 - 537,975 Other real estate not covered under loss- sharing agreements with the FDIC 81 - 184,747 - 184,828 Other real estate covered under loss- sharing agreements with the FDIC - - 37,414 - 37,414 Accrued income receivable 91 35 119,611 (46) 119,691 Mortgage servicing assets, at fair value - - 200,354 - 200,354 Other assets 60,326 24,368 2,093,102 (13,857) 2,163,939 Goodwill - - 627,294 - 627,294 Other intangible assets 553 - 47,333 - 47,886 Total assets $ 6,161,144 $ 1,886,102 $ 38,962,997 $ (7,955,947) $ 39,054,296 Liabilities and Stockholders' Equity Liabilities: Deposits: Non-interest bearing $ - $ - $ 6,958,558 $ (8,271) $ 6,950,287 Interest bearing - - 23,675,654 (298,896) 23,376,758 Total deposits - - 30,634,212 (307,167) 30,327,045 Federal funds purchased and assets sold under agreements to repurchase - - 765,251 - 765,251 Other short-term borrowings - - 1,200 - 1,200 Notes payable 735,079 148,505 714,949 - 1,598,533 Other liabilities 45,577 3,431 945,500 (14,451) 980,057 Liabilities from discontinued operations - - 1,815 - 1,815 Total liabilities 780,656 151,936 33,062,927 (321,618) 33,673,901 Stockholders' equity: Preferred stock 50,160 - - - 50,160 Common stock 1,040 2 56,307 (56,309) 1,040 Surplus 4,226,315 4,111,207 5,698,605 (9,801,285) 4,234,842 Retained earnings (accumulated deficit) 1,267,822 (2,392,906) 300,102 2,084,277 1,259,295 Treasury stock, at cost (7,554) - - (93) (7,647) Accumulated other comprehensive loss, net of tax (157,295) 15,863 (154,944) 139,081 (157,295) Total stockholders' equity 5,380,488 1,734,166 5,900,070 (7,634,329) 5,380,395 Total liabilities and stockholders' equity $ 6,161,144 $ 1,886,102 $ 38,962,997 $ (7,955,947) $ 39,054,296 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 September 30, 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 $ 24,200 $ - $ - $ (24,200) $ - Loans 21 - 363,529 - 363,550 Money market investments 398 27 4,568 (425) 4,568 Investment securities 141 81 37,510 - 37,732 Trading account securities - - 1,449 - 1,449 Total interest and dividend income 24,760 108 407,056 (24,625) 407,299 Interest expense: Deposits - - 32,787 (425) 32,362 Short-term borrowings - - 2,132 - 2,132 Long-term debt 13,118 2,692 3,308 - 19,118 Total interest expense 13,118 2,692 38,227 (425) 53,612 Net interest income (expense) 11,642 (2,584) 368,829 (24,200) 353,687 Provision (reversal) for loan losses- non-covered loans (33) - 42,627 - 42,594 Provision for loan losses- covered loans - - 750 - 750 Net interest income (expense) after provision for loan losses 11,675 (2,584) 325,452 (24,200) 310,343 Service charges on deposit accounts - - 40,776 - 40,776 Other service fees - - 59,233 (64) 59,169 Mortgage banking activities - - 15,272 - 15,272 Net gain on sale of investment securities 184 - 165 - 349 Trading account profit (loss) 77 - (163) (27) (113) Net gain on sale of loans, including valuation adjustments on loans held-for-sale - - 8,549 - 8,549 Adjustments (expense) to indemnity reserves on loans sold - - (4,390) - (4,390) FDIC loss-share expense - - (61,723) - (61,723) Other operating income 4,002 152 13,955 (20) 18,089 Total non-interest income 4,263 152 71,674 (111) 75,978 Operating expenses: Personnel costs 11,137 - 110,087 - 121,224 Net occupancy expenses 939 - 20,687 - 21,626 Equipment expenses 776 1 15,145 - 15,922 Other taxes 46 - 11,278 - 11,324 Professional fees 2,642 31 78,658 (65) 81,266 Communications 140 - 5,645 - 5,785 Business promotion 516 - 12,210 - 12,726 FDIC deposit insurance - - 5,854 - 5,854 Other real estate owned (OREO) expenses (16) - 11,311 - 11,295 Other operating expenses (19,795) 3 50,077 (533) 29,752 Amortization of intangibles - - 3,097 - 3,097 Goodwill impairment charge - - 3,801 - 3,801 Total operating expenses (3,615) 35 327,850 (598) 323,672 Income (loss) before income tax and equity in earnings of subsidiaries 19,553 (2,467) 69,276 (23,713) 62,649 Income tax (benefit) expense (2) (864) 16,504 201 15,839 Income (loss) before equity in earnings of subsidiaries 19,555 (1,603) 52,772 (23,914) 46,810 Equity in undistributed earnings of subsidiaries 27,255 9,190 - (36,445) - Net Income $ 46,810 $ 7,587 $ 52,772 $ (60,359) $ 46,810 Comprehensive income, net of tax $ 35,127 $ 3,426 $ 41,429 $ (44,855) $ 35,127 Condensed Consolidating Statement of Operations (Unaudited) Nine months ended September 30, 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 $ 78,100 $ - $ - $ (78,100) $ - Loans 60 - 1,096,408 - 1,096,468 Money market investments 976 78 11,320 (1,054) 11,320 Investment securities 522 242 109,964 - 110,728 Trading account securities - - 5,013 - 5,013 Total interest and dividend income 79,658 320 1,222,705 (79,154) 1,223,529 Interest expense: Deposits - - 93,889 (1,054) 92,835 Short-term borrowings - - 6,051 - 6,051 Long-term debt 39,353 8,077 10,563 - 57,993 Total interest expense 39,353 8,077 110,503 (1,054) 156,879 Net interest income (expense) 40,305 (7,757) 1,112,202 (78,100) 1,066,650 Provision (reversal) for loan losses- non-covered loans (36) - 130,238 - 130,202 Provision (reversal) for loan losses- covered loans - - (1,551) - (1,551) Net interest income (expense) after provision for loan losses 40,341 (7,757) 983,515 (78,100) 937,999 Service charges on deposit accounts - - 120,934 - 120,934 Other service fees - - 170,896 (1,400) 169,496 Mortgage banking activities - - 42,050 - 42,050 Net gain on sale of investment securities 1,767 - 165 - 1,932 Other-than-temporary impairment losses on investment securities - - (209) - (209) Trading account profit 136 - 733 (27) 842 Net loss on sale of loans, including valuation adjustments on loans held-for-sale - - 8,245 - 8,245 Adjustments (expense) to indemnity reserves on loans sold - - (14,234) - (14,234) FDIC loss-share expense - - (77,445) - (77,445) Other operating income 9,070 (2,787) 40,255 (38) 46,500 Total non-interest income 10,973 (2,787) 291,390 (1,465) 298,111 Operating expenses: Personnel costs 37,192 - 327,831 - 365,023 Net occupancy expenses 2,700 - 61,070 - 63,770 Equipment expenses 1,864 1 43,866 - 45,731 Other taxes 140 - 31,549 - 31,689 Professional fees 7,854 91 229,754 (349) 237,350 Communications 417 - 17,700 - 18,117 Business promotion 1,467 - 36,074 - 37,541 FDIC deposit insurance - - 18,586 - 18,586 Other real estate owned (OREO) expenses 52 - 33,364 - 33,416 Other operating expenses (56,173) 46 128,181 (1,622) 70,432 Amortization of intangibles - - 9,308 - 9,308 Goodwill impairment charge - - 3,801 - 3,801 Total operating expenses (4,487) 138 941,084 (1,971) 934,764 Income (loss) before income tax and equity in earnings of subsidiaries 55,801 (10,682) 333,821 (77,594) 301,346 Income tax expense (benefit) 1 (3,739) 84,080 208 80,550 Income (loss) before equity in earnings of subsidiaries 55,800 (6,943) 249,741 (77,802) 220,796 Equity in undistributed earnings of subsidiaries 164,996 30,289 - (195,285) - Net Income $ 220,796 $ 23,346 $ 249,741 $ (273,087) $ 220,796 Comprehensive income, net of tax $ 320,387 $ 47,064 $ 350,689 (397,753) $ 320,387 Condensed Consolidating Statement of Operations (Unaudited) Quarter ended September 30, 2015 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 $ 19,175 $ - $ - $ (19,175) $ - Loans 190 1 364,430 (163) 364,458 Money market investments 1 1 2,003 (2) 2,003 Investment securities 143 81 31,447 - 31,671 Trading account securities - - 3,150 - 3,150 Total interest and dividend income 19,509 83 401,030 (19,340) 401,282 Interest expense: Deposits - - 28,359 (2) 28,357 Short-term borrowings - 149 2,236 (163) 2,222 Long-term debt 13,118 2,695 4,155 - 19,968 Total interest expense 13,118 2,844 34,750 (165) 50,547 Net interest income (expense) 6,391 (2,761) 366,280 (19,175) 350,735 Provision (reversal) for loan losses- non-covered loans (146) - 69,714 - 69,568 Provision (reversal) for loan losses- covered loans - - (2,890) - (2,890) Net interest income (expense) after provision for loan losses 6,537 (2,761) 299,456 (19,175) 284,057 Service charges on deposit accounts - - 40,960 - 40,960 Other service fees - - 56,160 (45) 56,115 Mortgage banking activities - - 24,195 - 24,195 Net gain on sale of investment securities - - 136 - 136 Trading account loss (116) - (282) - (398) Adjustments (expense) to indemnity reserves on loans sold - - (5,874) - (5,874) FDIC loss-share income - - 1,207 - 1,207 Other operating income 2,520 416 11,842 (10) 14,768 Total non-interest income 2,404 416 128,344 (55) 131,109 Operating expenses: Personnel costs 11,287 - 109,576 - 120,863 Net occupancy expenses 894 - 20,383 - 21,277 Equipment expenses 520 - 14,219 - 14,739 Other taxes 46 - 9,905 - 9,951 Professional fees 2,789 33 74,377 (45) 77,154 Communications 137 - 5,921 - 6,058 Business promotion 464 - 11,861 - 12,325 FDIC deposit insurance - - 7,300 - 7,300 Other real estate owned (OREO) expenses - - 7,686 - 7,686 Other operating expenses (19,896) 109 45,972 (634) 25,551 Amortization of intangibles - - 3,512 - 3,512 Restructuring cost - - 481 - 481 Total operating expenses (3,759) 142 311,193 (679) 306,897 Income (loss) before income tax and equity in earnings of subsidiaries 12,700 (2,487) 116,607 (18,551) 108,269 Income tax expense 45 - 22,332 243 22,620 Income (loss) before equity in earnings of subsidiaries 12,655 (2,487) 94,275 (18,794) 85,649 Equity in undistributed earnings of subsidiaries 72,994 18,824 - (91,818) - Income from continuing operations 85,649 16,337 94,275 (110,612) 85,649 Loss from discontinued operations, net of tax - - (9) - (9) Equity in undistributed losses of discontinued operations (9) (9) - 18 - Net Income $ 85,640 $ 16,328 $ 94,266 $ (110,594) $ 85,640 Comprehensive income, net of tax $ 114,865 $ 24,343 $ 123,544 $ (147,887) $ 114,865 Condensed Consolidating Statement of Operations (Unaudited) Nine months ended September 30, 2015 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 $ 22,175 $ - $ - $ (22,175) $ - Loans 499 3 1,094,152 (432) 1,094,222 Money market investments 5 4 5,292 (7) 5,294 Investment securities 476 242 92,551 - 93,269 Trading account securities - - 8,872 - 8,872 Total interest and dividend income 23,155 249 1,200,867 (22,614) 1,201,657 Interest expense: Deposits - - 80,486 (7) 80,479 Short-term borrowings - 378 5,873 (432) 5,819 Long-term debt 39,353 8,084 11,439 - 58,876 Total interest expense 39,353 8,462 97,798 (439) 145,174 Net interest (expense) income (16,198) (8,213) 1,103,069 (22,175) 1,056,483 Provision for loan losses- non-covered loans 81 - 159,666 - 159,747 Provision for loan losses- covered loans - - 23,200 - 23,200 Net interest (expense) income after provision for loan losses (16,279) (8,213) 920,203 (22,175) 873,536 Service charges on deposit accounts - - 120,115 - 120,115 Other service fees - - 170,535 (1,373) 169,162 Mortgage banking activities - - 58,372 - 58,372 Net gain on sale of investment securities - - 141 - 141 Other-than temporary impairment losses on investment securities - - (14,445) - (14,445) Trading account loss (94) - (2,998) - (3,092) Net gain on sale of loans, including valuation adjustments on loans held-for-sale - - 602 - 602 Adjustments (expense) to indemnity reserves on loans sold - - (9,981) - (9,981) FDIC loss-share income - - 24,421 - 24,421 Other operating income 8,911 111 32,826 (40) 41,808 Total non-interest income 8,817 111 379,588 (1,413) 387,103 Operating expenses: Personnel costs 37,665 - 320,633 - 358,298 Net occupancy expenses 2,661 - 63,611 - 66,272 Equipment expenses 1,538 - 42,537 - 44,075 Other taxes (759) - 30,397 - 29,638 Professional fees 7,885 474 222,966 (194) 231,131 Communications 362 - 18,025 - 18,387 Business promotion 1,308 - 35,606 - 36,914 FDIC deposit insurance - - 22,240 - 22,240 Other real estate owned (OREO) expenses - - 75,571 - 75,571 Other operating expenses (52,016) 328 127,585 (1,916) 73,981 Amortization of intangibles - - 8,497 - 8,497 Restructuring costs - - 17,408 - 17,408 Total operating expenses (1,356) 802 985,076 (2,110) 982,412 (Loss) income before income tax and equity in earnings of subsidiaries (6,106) (8,904) 314,715 (21,478) 278,227 Income tax expense (benefit) 45 - (478,661) 272 (478,344) (Loss) income before equity in earnings of subsidiaries (6,151) (8,904) 793,376 (21,750) 756,571 Equity in undistributed earnings of subsidiaries 762,722 579,119 - (1,341,841) - Income from continuing operations 756,571 570,215 793,376 (1,363,591) 756,571 Income from discontinued operations, net of tax - - 1,347 - 1,347 Equity in undistributed earnings of discontinued operations 1,347 1,347 - (2,694) - Net Income $ 757,918 $ 571,562 $ 794,723 $ (1,366,285) $ 757,918 Comprehensive income, net of tax $ 797,984 $ 582,170 $ 834,738 $ (1,416,908) $ 797,984 Condensed Consolidating Statement of Cash Flow s (Unaudited) Nine months ended September 30,2016 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 $ 220,796 $ 23,346 $ 249,741 $ (273,087) $ 220,796 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Equity in undistributed earnings of subsidiaries (164,996) (30,289) - 195,285 - Provision (reversal) for loan losses (36) - 128,687 - 128,651 Goodwill impairment losses - - 3,801 - 3,801 Amortization of intangibles - - 9,308 - 9,308 Depreciation and amortization of premises and equipment 497 - 34,228 - 34,725 Net accretion of discounts and amortization of premiums and deferred fees 1,565 21 (38,339) - (36,753) Other-than-temporary impairment on investment securities - - 209 - 209 Fair value adjustments on mortgage servicing rights - - 18,879 - 18,879 FDIC loss-share expense - - 77,445 - 77,445 Adjustments (expense) to indemnity reserves on loans sold - - 14,234 - 14,234 (Earnings) losses from investments under the equity method (9,070) 2,787 (17,529) - (23,812) Deferred income tax expense (benefit) 1 (3,739) 65,448 208 61,918 (Gain) loss on: Disposition of premises and equipment and other productive assets (1) - 3,604 - 3,603 Sale and valuation adjustments of investment securities (1,767) - (165) - (1,932) Sale of loans, including valuation adjustments on loans held for sale and mortgage banking activities - - (32,982) - (32,982) Sale of foreclosed assets, including write-downs 52 - 13,108 - 13,160 Acquisitions of loans held-for-sale - - (223,189) - (223,189) Proceeds from sale of loans held-for-sale - - 58,003 - 58,003 Net originations on loans held-for-sale - - (365,353) - (365,353) Net (increase) decrease in: Trading securities (475) - 578,487 121 578,133 Accrued income receivable (6) 80 4,459 10 4,543 Other assets 2,304 (26) (26,170) (4,309) (28,201) Net decrease in: Interest payable (7,875) (2,685) (983) (10) (11,553) Pension and other postretirement benefits obligations - - (56,537) - (56,537) Other liabilities (5,724) (543) (2,801) 3,776 (5,292) Total adjustments (185,531) (34,394) 245,852 195,081 221,008 Net cash provided by (used in) operating activities 35,265 (11,048) 495,593 (78,006) 441,804 Cash flows from investing activities: Net (increase) decrease in money market investments (22,111) 10,835 (1,785,091) 12,965 (1,783,402) Purchases of investment securities: Available-for-sale - - (2,408,514) - (2,408,514) Other - - (14,017) - (14,017) Proceeds from calls, paydowns, maturities and redemptions of investment securities: Available-for-sale - - 951,447 - 951,447 Held-to-maturity - - 4,182 - 4,182 Other - - 11,051 - 11,051 Proceeds from sale of investment securities: Available for sale 278 - 1,278 - 1,556 Other 1,583 - 6,423 - 8,006 Net repayments (disbursements) on loans 25 - (93,379) - (93,354) Proceeds from sale of loans - - 134,114 - 134,114 Acquisition of loan portfolios - - (355,507) - (355,507) Net payments from FDIC under loss-sharing agreements - - 95,407 - 95,407 Return of capital from equity method investments 118 206 - - 324 Return of capital from wholly-owned subsidiaries 14,000 - - (14,000) - Acquisition of premises and equipment (794) - (77,503) - (78,297) Proceeds from sale of: Premises and equipment and other productive assets 56 - 5,463 - 5,519 Foreclosed assets 434 - 54,166 - 54,600 Net cash (used in) provided by investing activities (6,411) 11,041 (3,470,480) (1,035) (3,466,885) Cash flows from financing activities: Net increase (decrease) in: Deposits - - 3,116,067 3,607 3,119,674 Federal funds purchased and assets sold under agreements to repurchase - - 3,106 - 3,106 Other short-term borrowings - - - - - Payments of notes payable - - (230,608) - (230,608) Proceeds from issuance of notes payable - - 165,047 - 165,047 Proceeds from issuance of common stock 5,718 - - - 5,718 Dividends paid to parent company - - (78,100) 78,100 - Dividends paid (49,438) - - - (49,438) Net payments for repurchase of common stock (1,453) - (1) (93) (1,547) Return of capital to parent company - - (14,000) 14,000 - Net cash (used in) provided by financing activities (45,173) - 2,961,511 95,614 3,011,952 Net decrease in cash and due from banks (16,319) (7) (13,376) 16,573 (13,129) 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 $ 7,979 $ 593 $ 350,244 $ (8,271) $ 350,545 During the nine months ended September 30, 2016 there have not been any cash flows associated with discontinued operations. Condensed Consolidating Statement of Cash Flow s (Unaudited) Nine months ended September 30, 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 $ 757,918 $ 571,562 $ 794,723 $ (1,366,285) $ 757,918 Adjustments to reconcile net income to net cash (used in) provided by operating activities: Equity in undistributed earnings of subsidiaries (764,069) (580,466) - 1,344,535 - Provision for loan losses 81 - 182,866 - 182,947 Amortization of intangibles - - 8,497 - 8,497 Depreciation and amortization of premises and equipment 553 - 34,906 - 35,459 Net accretion of discounts and amortization of premiums and deferred fees - - (58,637) - (58,637) Other-than-temporary impairment on investment securities - - 14,445 - 14,445 Fair value adjustments on mortgage servicing rights - - 5,808 - 5,808 FDIC loss-share income - - (24,421) - (24,421) Adjustments (expense) to indemnity reserves on loans sold - - 9,981 - 9,981 Earnings losses from investments under the equity method (8,911) (111) (8,063) - (17,085) Deferred income tax benefit - - (496,551) 272 (496,279) (Gain) loss on: Disposition of premises and equipment (2) - (2,937) - (2,939) Sale and valuation adjustments of investment securities - - (141) - (141) Sale of loans, including valuation adjustments on loans held for sale and mortgage banking activities - - (24,657) - (24,657) Sale of foreclosed assets, including write-downs - - 56,391 - 56,391 Acquisitions of loans held-for-sale - - (331,860) - (331,860) Proceeds from sale of loans held-for-sale - - 71,296 - 71,296 Net originations on loans held-for-sale - - (574,942) - (574,942) Net (increase) decrease in: Trading securities (188) - 783,492 - 783,304 Accrued income receivable (87) 80 11,503 86 11,582 Other assets (10,258) 3 37,453 33,981 61,179 Net (decrease) increase in: Interest payable (7,875) (2,599) (52) (86) (10,612) Pension and other postretirement benefits obligations - - 2,567 - 2,567 Other liabilities (9,545) (140) (11,865) (17,503) (39,053) Total adjustments (800,301) (583,233) (314,921) 1,361,285 (337,170) Net cash (used in) provided by operating activities (42,383) (11,671) 479,802 (5,000) 420,748 Cash flows from investing activities: Net decrease (increase) in money market investments 18,611 (596) (604,796) 596 (586,185) Purchases of investment securities: Available-for-sale - - (1,239,962) - (1,239,962) Held-to-maturity - - (250) - (250) Other - - (39,391) - (39,391) Proceeds from calls, paydowns, maturities and redemptions of investment securities: Available-for-sale - - 1,152,074 - 1,152,074 Held-to-maturity - - 4,428 - 4,428 Other - - 45,497 - 45,497 Proceeds from sale of investment securities: Available for sale - - 96,760 - 96,760 Other - - 12,928 - 12,928 Net repayments on loans 10,753 350 318,555 (10,739) 318,919 Proceeds from sale of loans - - 27,780 - 27,780 Acquisition of loan portfolios - (350) (173,155) - (173,505) Acquisition of trademark - - (50) - (50) Net payments from FDIC under loss-sharing agreements - - 245,416 - 245,416 Net cash received and acquired from business combination - - 731,279 - 731,279 Acquisition of servicing assets - - (61,304) - (61,304) Cash paid related to business acquisitions - - (17,250) - (17,250) Mortgage servicing rights purchased - - (2,400) - (2,400) Acquisition of premises and equipment (808) - (40,301) - (41,109) Proceeds from sale of: Premises and equipment 6 - 10,160 - 10,166 Foreclosed assets - - 115,078 - 115,078 Net cash provided by (used in) investing activities 28,562 (596) 581,096 (10,143) 598,919 Cash flows from financing activities: Net (decrease) increase in: Deposits - - (302,897) 13,453 (289,444) Federal funds purchased and assets sold under agreements to repurchase - - (185,892) - (185,892) Other short-term borrowings - 12,261 (171,215) 10,739 (148,215) Payments of notes payable - - (719,575) - (719,575) Proceeds from issuance of notes payable - - 263,286 - 263,286 Proceeds from issuance of common stock 4,177 - - - 4,177 Dividends paid to parent company - - (5,000) 5,000 - Dividends paid (2,792) - - - (2,792) Net payments for repurchase of common stock (1,752) - - - (1,752) Net cash (used in) provided by financing activities (367) 12,261 (1,121,293) 29,192 (1,080,207) Net decrease in cash and due from banks (14,188) (6) (60,395) 14,049 (60,540) 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 $ 6,260 $ 602 $ 320,495 $ (6,802) $ 320,555 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) | 9 Months Ended |
Sep. 30, 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) | 9 Months Ended |
Sep. 30, 2016 | |
Discontinued Operations And Disposal Groups | |
Schedule Of Restructuring And Related Costs [Table Text Block] | Nine months ended September 30, (In thousands) 2016 2015 Beginning balance $ 620 $ 13,536 Charges expensed during the period - 7,725 Payments made during the period (430) (20,469) Ending balance $ 190 $ 792 |
Business combination (Tables)
Business combination (Tables) | 9 Months Ended |
Sep. 30, 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 September 30, 2015 Nine months ended September 30, 2015 (In thousands) As recasted As reported Difference As recasted As reported Difference Net Interest Income $ 23,927 $ 24,978 $ (1,051) $ 63,863 $ 61,910 $ 1,953 Non-Interest Income 6,745 5,912 833 18,217 17,384 833 Operating Expenses 18,809 19,078 (269) 59,714 60,341 (627) Income Before Taxes $ 11,863 $ 11,812 $ 51 $ 22,366 $ 18,953 $ 3,413 |
Investment securities (Tables)
Investment securities (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Available For Sale Securities Text Block | At September 30, 2016 Gross Gross Weighted Amortized unrealized unrealized Fair average (In thousands) cost gains losses value yield U.S. Treasury securities Within 1 year $ 689,259 $ 2,033 $ - $ 691,292 0.99 % After 1 to 5 years 913,013 4,782 - 917,795 1.09 After 5 to 10 years 9,944 385 - 10,329 1.99 Total U.S. Treasury securities 1,612,216 7,200 - 1,619,416 1.05 Obligations of U.S. Government sponsored entities Within 1 year 100,062 298 - 100,360 0.98 After 1 to 5 years 593,257 4,616 125 597,748 1.39 After 5 to 10 years 200 1 - 201 5.64 Total obligations of U.S. Government sponsored entities 693,519 4,915 125 698,309 1.33 Obligations of Puerto Rico, States and political subdivisions After 1 to 5 years 7,210 - 34 7,176 4.19 After 5 to 10 years 5,915 6 1,287 4,634 4.02 After 10 years 18,634 8 3,476 15,166 6.99 Total obligations of Puerto Rico, States and political subdivisions 31,759 14 4,797 26,976 5.80 Collateralized mortgage obligations - federal agencies Within 1 year 69 - - 69 1.03 After 1 to 5 years 19,151 754 - 19,905 2.88 After 5 to 10 years 33,067 642 - 33,709 2.86 After 10 years 1,279,354 13,663 7,449 1,285,568 1.97 Total collateralized mortgage obligations - federal agencies 1,331,641 15,059 7,449 1,339,251 2.01 Mortgage-backed securities Within 1 year 11 - - 11 4.18 After 1 to 5 years 21,926 816 7 22,735 3.92 After 5 to 10 years 261,441 6,876 25 268,292 2.39 After 10 years 3,576,704 66,941 1,954 3,641,691 2.53 Total mortgage-backed securities 3,860,082 74,633 1,986 3,932,729 2.53 Equity securities (without contractual maturity) 1,245 960 - 2,205 8.21 Other Within 1 year 8,633 20 - 8,653 1.75 After 5 to 10 years 1,080 37 - 1,117 3.62 Total other 9,713 57 - 9,770 1.96 Total investment securities available-for-sale [1] $ 7,540,175 $ 102,838 $ 14,357 $ 7,628,656 2.03 % [1]Includes $4.2 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 $3.3 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 September 30, 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 $ 3,105 $ - $ 1,218 $ 1,887 5.92 % After 1 to 5 years 14,540 - 5,865 8,675 6.02 After 5 to 10 years 18,635 - 7,642 10,993 6.20 After 10 years 59,615 3,723 7,527 55,811 1.92 Total obligations of Puerto Rico, States and political subdivisions 95,895 3,723 22,252 77,366 3.50 Collateralized mortgage obligations - federal agencies After 5 to 10 years 78 5 - 83 5.45 Total collateralized mortgage obligations - federal agencies 78 5 - 83 5.45 Other Within 1 year 1,000 - 4 996 1.34 After 1 to 5 years 1,000 - 35 965 2.28 Total other 2,000 - 39 1,961 3.62 Total investment securities held-to-maturity [1] $ 97,973 $ 3,728 $ 22,291 $ 79,410 3.47 % [1]Includes $96.2 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. |
Available For Sale Securities Member | |
Schedule Of Realized Gains Losses [Table Text Block] | For the quarter ended September 30, Nine months ended September 30, (In thousands) 2016 2015 2016 2015 Gross realized gains $ 348 $ 221 $ 348 $ 226 Gross realized losses - (85) - (85) Net realized gains on sale of investment securities available-for-sale $ 348 $ 136 $ 348 $ 141 |
Schedule Of Unrealized Loss On Investments Table Text Block | At September 30, 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 $ 24,011 $ 107 $ 1,180 $ 18 $ 25,191 $ 125 Obligations of Puerto Rico, States and political subdivisions 7,176 34 17,821 4,763 24,997 4,797 Collateralized mortgage obligations - federal agencies 112,432 241 367,488 7,208 479,920 7,449 Mortgage-backed securities 478,854 1,977 589 9 479,443 1,986 Total investment securities available-for-sale in an unrealized loss position $ 622,473 $ 2,359 $ 387,078 $ 11,998 $ 1,009,551 $ 14,357 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 |
Schedule Of Securities Aggregate Amortized Cost Exceed 10 Of Stockholders Equity [Table Text Block] | September 30, 2016 December 31, 2015 (In thousands) Amortized cost Fair value Amortized cost Fair value FNMA $ 3,080,757 $ 3,118,968 $ 2,649,860 $ 2,633,899 Freddie Mac 1,324,336 1,335,953 1,088,691 1,079,956 |
Held To Maturity Securities Member | |
Schedule Of Unrealized Loss On Investments Table Text Block | At September 30, 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 $ - $ - $ 30,848 $ 22,252 $ 30,848 $ 22,252 Other - - 1,211 39 1,211 39 Total investment securities held-to-maturity in an unrealized loss position $ - $ - $ 32,059 $ 22,291 $ 32,059 $ 22,291 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) | 9 Months Ended |
Sep. 30, 2016 | |
ASC Subtopic 310-30 | |
Disclosure Of Carrying Amount Of Loans Acquired In F D I C Assisted Transaction [Table Text Block] | September 30, 2016 December 31, 2015 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 $ 1,023,047 $ 14,587 $ 1,037,634 $ 1,114,368 $ 35,393 $ 1,149,761 Commercial and industrial 78,983 - 78,983 84,765 519 85,284 Construction - 1,720 1,720 8,943 6,027 14,970 Mortgage 602,697 25,953 628,650 667,023 33,090 700,113 Consumer 19,453 1,099 20,552 23,047 1,326 24,373 Carrying amount [1] 1,724,180 43,359 1,767,539 1,898,146 76,355 1,974,501 Allowance for loan losses (62,114) (7,457) (69,571) (59,753) (3,810) (63,563) Carrying amount, net of allowance $ 1,662,066 $ 35,902 $ 1,697,968 $ 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 $578 million as of September 30, 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 September 30, 2016 September 30, 2015 Non-credit Credit Non-credit Credit (In thousands) impaired loans impaired loans Total impaired loans impaired loans Total Beginning balance $ 1,061,971 $ 9,709 $ 1,071,680 $ 1,239,776 $ 6,148 $ 1,245,924 Accretion (38,597) (993) (39,590) (44,568) (2,125) (46,693) Change in expected cash flows 6,992 (390) 6,602 (56,526) 2,744 (53,782) Ending balance $ 1,030,366 $ 8,326 $ 1,038,692 $ 1,138,682 $ 6,767 $ 1,145,449 Activity in the accretable yield Westernbank loans ASC 310-30 For the nine months ended September 30, 2016 September 30, 2015 Non-credit Credit Non-credit Credit impaired impaired impaired impaired (In thousands) loans loans Total loans loans Total Beginning balance $ 1,105,732 $ 6,726 $ 1,112,458 $ 1,265,752 $ 5,585 $ 1,271,337 Accretion (125,734) (5,865) (131,599) (148,572) (7,812) (156,384) Change in expected cash flows 50,368 7,465 57,833 21,502 8,994 30,496 Ending balance $ 1,030,366 $ 8,326 $ 1,038,692 $ 1,138,682 $ 6,767 $ 1,145,449 Activity in the accretable yield - other acquired loans ASC 310-30 For the quarter ended For the quarter ended (In thousands) September 30, 2016 September 30, 2015 Beginning balance $ 272,609 $ 162,159 Additions 3,809 25,978 Accretion (8,689) (4,543) Change in expected cash flows 8,672 1,402 Ending balance $ 276,401 $ 184,996 Activity in the accretable yield - other acquired loans ASC 310-30 For the nine months ended For the nine months ended (In thousands) September 30, 2016 September 30, 2015 Beginning balance $ 221,128 $ 116,304 Additions 12,320 82,046 Accretion (25,974) (12,399) Change in expected cash flows 68,927 (955) Ending balance $ 276,401 $ 184,996 |
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 September 30, 2016 September 30, 2015 Non-credit Credit Non-credit Credit (In thousands) impaired loans impaired loans Total impaired loans impaired loans Total Beginning balance $ 1,754,613 $ 45,330 $ 1,799,943 $ 2,022,493 $ 114,585 $ 2,137,078 Accretion 38,597 993 39,590 44,568 2,125 46,693 Collections / loan sales / charge-offs (69,030) (2,964) (71,994) (94,320) (13,439) (107,759) Ending balance [1] $ 1,724,180 $ 43,359 $ 1,767,539 $ 1,972,741 $ 103,271 $ 2,076,012 Allowance for loan losses ASC 310-30 Westernbank loans (62,114) (7,457) (69,571) (54,027) (10,556) (64,583) Ending balance, net of ALLL $ 1,662,066 $ 35,902 $ 1,697,968 $ 1,918,714 $ 92,715 $ 2,011,429 [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 $ 578 million as of September 30, 2016 (September 30, 2015- $655 million). Carrying amount of Westernbank loans accounted for pursuant to ASC 310-30 For the nine months ended September 30, 2016 September 30, 2015 Non-credit Credit Non-credit Credit impaired impaired impaired impaired (In thousands) loans loans Total loans loans Total Beginning balance $ 1,898,146 $ 76,355 $ 1,974,501 $ 2,272,142 $ 172,030 $ 2,444,172 Accretion 125,734 5,865 131,599 148,572 7,812 156,384 Collections / loan sales / charge-offs [1] (299,700) (38,861) (338,561) (447,973) (76,571) (524,544) Ending balance [2] $ 1,724,180 $ 43,359 $ 1,767,539 $ 1,972,741 $ 103,271 $ 2,076,012 Allowance for loan losses ASC 310-30 Westernbank loans (62,114) (7,457) (69,571) (54,027) (10,556) (64,583) Ending balance, net of ALLL $ 1,662,066 $ 35,902 $ 1,697,968 $ 1,918,714 $ 92,715 $ 2,011,429 [1] For the nine months ended September 30, 2016, includes the impact of the bulk sale of loans with a carrying value of approximately $99 million. [2] 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 $578 million as of September 30, 2016 (September 30, 2015- $655 million). Carrying amount of other acquired loans accounted for pursuant to ASC 310-30 For the quarter ended For the quarter ended (In thousands) September 30, 2016 September 30, 2015 Beginning balance $ 562,745 368,287 Additions 8,349 281,911 Accretion 8,689 4,543 Collections and charge-offs (17,861) (13,655) Ending balance $ 561,922 $ 641,086 Allowance for loan losses ASC 310-30 other acquired loans (18,550) (18,561) Ending balance, net of ALLL $ 543,372 $ 622,525 Carrying amount of other acquired loans accounted for pursuant to ASC 310-30 For the nine months ended For the nine months ended (In thousands) September 30, 2016 September 30, 2015 Beginning balance $ 564,050 $ 212,763 Purchase accounting adjustments related to the Doral Bank Transaction (Refer to Note 5) (4,707) - Additions 26,754 456,091 Accretion 25,974 12,399 Collections and charge-offs (50,149) (40,167) Ending balance $ 561,922 $ 641,086 Allowance for loan losses ASC 310-30 other acquired loans (18,550) (18,561) Ending balance, net of ALLL $ 543,372 $ 622,525 |
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] | September 30, 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 $ 3,659 $ - $ 3,790 $ - Consumer 138 - 97 - Total [1] $ 3,797 $ - $ 3,887 $ - |
Loans Held for Investment | Non Covered Loans | |
Schedule Of Financing Receivables Non Accrual Status [Table Text Block] | At September 30, 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 $ 932 $ - $ 207 $ - $ 1,139 $ - Commercial real estate non-owner occupied 24,684 - 807 - 25,491 - Commercial real estate owner occupied 108,132 - 1,081 - 109,213 - Commercial and industrial 33,299 479 1,429 - 34,728 479 Mortgage [3] 331,346 399,218 14,430 - 345,776 399,218 Leasing 2,878 - - - 2,878 - Legacy - - 3,450 - 3,450 - Consumer: Credit cards - 18,186 82 - 82 18,186 Home equity lines of credit - 102 4,629 - 4,629 102 Personal 20,947 25 1,972 - 22,919 25 Auto 12,209 - - - 12,209 - Other 16,811 642 - - 16,811 642 Total [2] $ 551,238 $ 418,652 $ 28,087 $ - $ 579,325 $ 418,652 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 | September 30, 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 $ 229 $ - $ 932 $ 1,161 $ 175,340 $ 176,501 Commercial real estate non-owner occupied 6,544 81,988 53,722 142,254 2,456,197 2,598,451 Commercial real estate owner occupied 10,643 5,896 126,449 142,988 1,699,209 1,842,197 Commercial and industrial 18,841 2,809 33,778 55,428 2,581,592 2,637,020 Construction - - 1,720 1,720 79,334 81,054 Mortgage 286,097 154,588 813,015 1,253,700 4,711,138 5,964,838 Leasing 6,257 2,017 2,878 11,152 671,658 682,810 Consumer: Credit cards 11,806 8,379 18,186 38,371 1,067,386 1,105,757 Home equity lines of credit 238 102 102 442 8,178 8,620 Personal 12,997 7,799 21,034 41,830 1,130,726 1,172,556 Auto 33,586 7,450 12,209 53,245 775,579 828,824 Other 554 281 17,453 18,288 159,785 178,073 Total $ 387,792 $ 271,309 $ 1,101,478 $ 1,760,579 $ 15,516,122 $ 17,276,701 September 30, 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 $ - $ - $ 207 $ 207 $ 945,991 $ 946,198 Commercial real estate non-owner occupied - - 807 807 1,225,191 1,225,998 Commercial real estate owner occupied - 1,676 1,081 2,757 234,724 237,481 Commercial and industrial 167 1,117 87,860 89,144 784,201 873,345 Construction - 22,275 - 22,275 628,023 650,298 Mortgage 1,475 4,890 14,430 20,795 788,864 809,659 Legacy 96 509 3,450 4,055 43,859 47,914 Consumer: Credit cards 28 14 82 124 149 273 Home equity lines of credit 3,016 962 4,629 8,607 254,606 263,213 Personal 2,004 1,668 1,972 5,644 258,970 264,614 Auto - - - - 12 12 Other 8 - - 8 258 266 Total $ 6,794 $ 33,111 $ 114,518 $ 154,423 $ 5,164,848 $ 5,319,271 September 30, 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 $ 229 $ - $ 1,139 $ 1,368 $ 1,121,331 $ 1,122,699 Commercial real estate non-owner occupied 6,544 81,988 54,529 143,061 3,681,388 3,824,449 Commercial real estate owner occupied 10,643 7,572 127,530 145,745 1,933,933 2,079,678 Commercial and industrial 19,008 3,926 121,638 144,572 3,365,793 3,510,365 Construction - 22,275 1,720 23,995 707,357 731,352 Mortgage 287,572 159,478 827,445 1,274,495 5,500,002 6,774,497 Leasing 6,257 2,017 2,878 11,152 671,658 682,810 Legacy [3] 96 509 3,450 4,055 43,859 47,914 Consumer: Credit cards 11,834 8,393 18,268 38,495 1,067,535 1,106,030 Home equity lines of credit 3,254 1,064 4,731 9,049 262,784 271,833 Personal 15,001 9,467 23,006 47,474 1,389,696 1,437,170 Auto 33,586 7,450 12,209 53,245 775,591 828,836 Other 562 281 17,453 18,296 160,043 178,339 Total $ 394,586 $ 304,420 $ 1,215,996 $ 1,915,002 $ 20,680,970 $ 22,595,972 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 | September 30, 2016 Past due 30-59 60-89 90 days Total Covered (In thousands) days days or more past due Current loans HIP [1] Mortgage $ 29,769 $ 13,433 $ 73,193 $ 116,395 $ 454,954 $ 571,349 Consumer 958 372 1,126 2,456 14,406 16,862 Total covered loans $ 30,727 $ 13,805 $ 74,319 $ 118,851 $ 469,360 $ 588,211 [1] Includes $349 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) September 30, 2016 December 31, 2015 Commercial $ - $ 45,074 Construction - 95 Total $ - $ 45,169 |
Schedule Of Accounts Notes Loans And Financing Receivable Text Block | (In thousands) September 30, 2016 December 31, 2015 Commercial $ - $ 45,074 Construction - 95 Mortgage 72,076 91,831 Total loans held-for-sale $ 72,076 $ 137,000 |
Allowance for loan losses (Tabl
Allowance for loan losses (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Schedule Of Credit Losses Related To Financing Receivables Current And Noncurrent Table Text Block | ASC 310-30 For the quarters ended For the nine months ended (In thousands) September 30, 2016 September 30, 2015 September 30, 2016 September 30, 2015 Balance at beginning of period $ 66,995 $ 47,049 $ 63,563 $ 78,846 Provision (reversal of provision) 6,710 17,201 2,640 38,071 Net recoveries (charge-offs) (4,134) 333 3,368 (52,334) Balance at end of period $ 69,571 $ 64,583 $ 69,571 $ 64,583 |
Allowance For Credit Losses On Financing Receivables Table Text Block | For the quarter ended September 30, 2016 Puerto Rico - Non-covered loans (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses: Beginning balance $ 199,827 $ 3,605 $ 136,724 $ 10,094 $ 130,471 $ 480,721 Provision (reversal of provision) 13,746 (605) 13,841 (1,363) 10,662 36,281 Charge-offs (13,799) (951) (16,002) (1,429) (25,470) (57,651) Recoveries 10,600 65 765 613 12,649 24,692 Ending balance $ 210,374 $ 2,114 $ 135,328 $ 7,915 $ 128,312 $ 484,043 Specific ALLL $ 58,527 $ - $ 43,567 $ 540 $ 23,708 $ 126,342 General ALLL $ 151,847 $ 2,114 $ 91,761 $ 7,375 $ 104,604 $ 357,701 Loans held-in-portfolio: Impaired non-covered loans $ 328,868 $ - $ 487,972 $ 1,899 $ 108,341 $ 927,080 Non-covered loans held-in-portfolio excluding impaired loans 6,925,290 81,054 5,476,876 680,911 3,185,490 16,349,621 Total non-covered loans held-in-portfolio $ 7,254,158 $ 81,054 $ 5,964,848 $ 682,810 $ 3,293,831 $ 17,276,701 For the quarter ended September 30, 2016 Puerto Rico - Covered loans (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses: Beginning balance $ - $ - $ 29,951 $ - $ 630 $ 30,581 Provision (reversal of provision) - - 845 - (95) 750 Charge-offs - - (973) - (411) (1,384) Recoveries - - 312 - 3 315 Ending balance $ - $ - $ 30,135 $ - $ 127 $ 30,262 Specific ALLL $ - $ - $ - $ - $ - $ - General ALLL $ - $ - $ 30,135 $ - $ 127 $ 30,262 Loans held-in-portfolio: Impaired covered loans $ - $ - $ - $ - $ - $ - Covered loans held-in-portfolio excluding impaired loans - - 571,349 - 16,862 588,211 Total covered loans held-in-portfolio $ - $ - $ 571,349 $ - $ 16,862 $ 588,211 For the quarter ended September 30, 2016 U.S. Mainland (In thousands) Commercial Construction Mortgage Legacy Consumer Total Allowance for credit losses: Beginning balance $ 9,854 $ 7,460 $ 4,762 $ 1,852 $ 13,490 $ 37,418 Provision (reversal of provision) 2,765 368 1,380 (690) 2,490 6,313 Charge-offs (155) - (2,022) (145) (2,884) (5,206) Recoveries 1,328 - 80 665 952 3,025 Ending balance $ 13,792 $ 7,828 $ 4,200 $ 1,682 $ 14,048 $ 41,550 Specific ALLL $ - $ - $ 1,990 $ - $ 725 $ 2,715 General ALLL $ 13,792 $ 7,828 $ 2,210 $ 1,682 $ 13,323 $ 38,835 Loans held-in-portfolio: Impaired loans $ - $ - $ 8,896 $ - $ 2,588 $ 11,484 Loans held-in-portfolio excluding impaired loans 3,283,022 650,298 800,763 47,914 525,790 5,307,787 Total loans held-in-portfolio $ 3,283,022 $ 650,298 $ 809,659 $ 47,914 $ 528,378 $ 5,319,271 For the quarter ended September 30, 2016 Popular, Inc. (In thousands) Commercial Construction Mortgage Legacy Leasing Consumer Total Allowance for credit losses: Beginning balance $ 209,681 $ 11,065 $ 171,437 $ 1,852 $ 10,094 $ 144,591 $ 548,720 Provision (reversal of provision) 16,511 (237) 16,066 (690) (1,363) 13,057 43,344 Charge-offs (13,954) (951) (18,997) (145) (1,429) (28,765) (64,241) Recoveries 11,928 65 1,157 665 613 13,604 28,032 Ending balance $ 224,166 $ 9,942 $ 169,663 $ 1,682 $ 7,915 $ 142,487 $ 555,855 Specific ALLL $ 58,527 $ - $ 45,557 $ - $ 540 $ 24,433 $ 129,057 General ALLL $ 165,639 $ 9,942 $ 124,106 $ 1,682 $ 7,375 $ 118,054 $ 426,798 Loans held-in-portfolio: Impaired loans $ 328,868 $ - $ 496,868 $ - $ 1,899 $ 110,929 $ 938,564 Loans held-in-portfolio excluding impaired loans 10,208,312 731,352 6,848,988 47,914 680,911 3,728,142 22,245,619 Total loans held-in-portfolio $ 10,537,180 $ 731,352 $ 7,345,856 $ 47,914 $ 682,810 $ 3,839,071 $ 23,184,183 For the nine months ended September 30, 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) 30,630 (5,786) 50,398 (190) 43,451 118,503 Charge-offs (47,256) (3,026) (45,924) (4,435) (78,860) (179,501) Recoveries 35,706 5,055 2,527 1,547 24,838 69,673 Net recoveries 4,369 914 - - 162 5,445 Ending balance $ 210,374 $ 2,114 $ 135,328 $ 7,915 $ 128,312 $ 484,043 Specific ALLL $ 58,527 $ - $ 43,567 $ 540 $ 23,708 $ 126,342 General ALLL $ 151,847 $ 2,114 $ 91,761 $ 7,375 $ 104,604 $ 357,701 Loans held-in-portfolio: Impaired non-covered loans $ 328,868 $ - $ 487,972 $ 1,899 $ 108,341 $ 927,080 Non-covered loans held-in-portfolio excluding impaired loans 6,925,290 81,054 5,476,876 680,911 3,185,490 16,349,621 Total non-covered loans held-in-portfolio $ 7,254,158 $ 81,054 $ 5,964,848 $ 682,810 $ 3,293,831 $ 17,276,701 For the nine months ended September 30, 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) - - (1,476) - (75) (1,551) Charge-offs - - (3,078) - (17) (3,095) Recoveries - - 722 - 10 732 Ending balance $ - $ - $ 30,135 $ - $ 127 $ 30,262 Specific ALLL $ - $ - $ - $ - $ - $ - General ALLL $ - $ - $ 30,135 $ - $ 127 $ 30,262 Loans held-in-portfolio: Impaired covered loans $ - $ - $ - $ - $ - $ - Covered loans held-in-portfolio excluding impaired loans - - 571,349 - 16,862 588,211 Total covered loans held-in-portfolio $ - $ - $ 571,349 $ - $ 16,862 $ 588,211 For the nine months ended September 30, 2016 U.S. Mainland - Continuing Operations (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) 1,651 3,916 1,403 (2,665) 7,394 11,699 Charge-offs (1,040) - (2,595) (388) (8,194) (12,217) Recoveries 3,273 - 407 2,048 3,328 9,056 Ending balance $ 13,792 $ 7,828 $ 4,200 $ 1,682 $ 14,048 $ 41,550 Specific ALLL $ - $ - $ 1,990 $ - $ 725 $ 2,715 General ALLL $ 13,792 $ 7,828 $ 2,210 $ 1,682 $ 13,323 $ 38,835 Loans held-in-portfolio: Impaired loans $ - $ - $ 8,896 $ - $ 2,588 $ 11,484 Loans held-in-portfolio excluding impaired loans 3,283,022 650,298 800,763 47,914 525,790 5,307,787 Total loans held-in-portfolio $ 3,283,022 $ 650,298 $ 809,659 $ 47,914 $ 528,378 $ 5,319,271 For the nine months ended September 30, 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) 32,281 (1,870) 50,325 (2,665) (190) 50,770 128,651 Charge-offs (48,296) (3,026) (51,597) (388) (4,435) (87,071) (194,813) Recoveries 38,979 5,055 3,656 2,048 1,547 28,176 79,461 Net recoveries 4,369 914 - - - 162 5,445 Ending balance $ 224,166 $ 9,942 $ 169,663 $ 1,682 $ 7,915 $ 142,487 $ 555,855 Specific ALLL $ 58,527 $ - $ 45,557 $ - $ 540 $ 24,433 $ 129,057 General ALLL $ 165,639 $ 9,942 $ 124,106 $ 1,682 $ 7,375 $ 118,054 $ 426,798 Loans held-in-portfolio: Impaired loans $ 328,868 $ - $ 496,868 $ - $ 1,899 $ 110,929 $ 938,564 Loans held-in-portfolio excluding impaired loans 10,208,312 731,352 6,848,988 47,914 680,911 3,728,142 22,245,619 Total loans held-in-portfolio $ 10,537,180 $ 731,352 $ 7,345,856 $ 47,914 $ 682,810 $ 3,839,071 $ 23,184,183 For the quarter ended September 30, 2015 Puerto Rico - Non-covered loans (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses: Beginning balance $ 207,095 $ 6,558 $ 126,177 $ 9,160 $ 133,710 $ 482,700 Provision (reversal of provision) 23,044 2,375 19,412 825 23,099 68,755 Charge-offs (16,845) (451) (16,263) (1,485) (29,625) (64,669) Recoveries 7,673 3,099 739 591 5,322 17,424 Ending balance $ 220,967 $ 11,581 $ 130,065 $ 9,091 $ 132,506 $ 504,210 Specific ALLL $ 83,615 $ 358 $ 46,956 $ 634 $ 24,221 $ 155,784 General ALLL $ 137,352 $ 11,223 $ 83,109 $ 8,457 $ 108,285 $ 348,426 Loans held-in-portfolio: Impaired non-covered loans $ 391,066 $ 2,536 $ 457,631 $ 2,645 $ 111,683 $ 965,561 Non-covered loans held-in-portfolio excluding impaired loans 7,130,678 106,142 5,762,764 604,282 3,249,213 16,853,079 Total non-covered loans held-in-portfolio $ 7,521,744 $ 108,678 $ 6,220,395 $ 606,927 $ 3,360,896 $ 17,818,640 For the quarter ended September 30, 2015 Puerto Rico - Covered Loans (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses: Beginning balance $ - $ - $ 37,815 $ - $ 259 $ 38,074 Provision (reversal of provision) - - (2,880) - (10) (2,890) Charge-offs - - (790) - (76) (866) Recoveries - - 189 - 2 191 Ending balance $ - $ - $ 34,334 $ - $ 175 $ 34,509 Specific ALLL $ - $ - $ - $ - $ - $ - General ALLL $ - $ - $ 34,334 $ - $ 175 $ 34,509 Loans held-in-portfolio: Impaired covered loans $ - $ - $ - $ - $ - $ - Covered loans held-in-portfolio excluding impaired loans - - 645,663 - 19,765 665,428 Total covered loans held-in-portfolio $ - $ - $ 645,663 $ - $ 19,765 $ 665,428 For the quarter ended September 30, 2015 U.S. Mainland - Continuing Operations (In thousands) Commercial Construction Mortgage Legacy Consumer Total Allowance for credit losses: Beginning balance $ 8,625 $ 2,429 $ 3,770 $ 3,315 $ 11,900 $ 30,039 Provision (reversal of provision) (1,090) 741 1,452 (1,113) 823 813 Charge-offs (308) - (768) (804) (1,826) (3,706) Recoveries 2,267 - (19) 1,407 994 4,649 Ending balance $ 9,494 $ 3,170 $ 4,435 $ 2,805 $ 11,891 $ 31,795 Specific ALLL $ - $ - $ 589 $ - $ 475 $ 1,064 General ALLL $ 9,494 $ 3,170 $ 3,846 $ 2,805 $ 11,416 $ 30,731 Loans held-in-portfolio: Impaired loans $ - $ - $ 5,175 $ 1,188 $ 2,182 $ 8,545 Loans held-in-portfolio excluding impaired loans 2,608,680 583,814 939,909 66,786 471,692 4,670,881 Total loans held-in-portfolio $ 2,608,680 $ 583,814 $ 945,084 $ 67,974 $ 473,874 $ 4,679,426 For the quarter ended September 30, 2015 Popular, Inc. (In thousands) Commercial Construction Mortgage Legacy Leasing Consumer Total Allowance for credit losses: Beginning balance $ 215,720 $ 8,987 $ 167,762 $ 3,315 $ 9,160 $ 145,869 $ 550,813 Provision (reversal of provision) 21,954 3,116 17,984 (1,113) 825 23,912 66,678 Charge-offs (17,153) (451) (17,821) (804) (1,485) (31,527) (69,241) Recoveries 9,940 3,099 909 1,407 591 6,318 22,264 Ending balance $ 230,461 $ 14,751 $ 168,834 $ 2,805 $ 9,091 $ 144,572 $ 570,514 Specific ALLL $ 83,615 $ 358 $ 47,545 $ - $ 634 $ 24,696 $ 156,848 General ALLL $ 146,846 $ 14,393 $ 121,289 $ 2,805 $ 8,457 $ 119,876 $ 413,666 Loans held-in-portfolio: Impaired loans $ 391,066 $ 2,536 $ 462,806 $ 1,188 $ 2,645 $ 113,865 $ 974,106 Loans held-in-portfolio excluding impaired loans 9,739,358 689,956 7,348,336 66,786 604,282 3,740,670 22,189,388 Total loans held-in-portfolio $ 10,130,424 $ 692,492 $ 7,811,142 $ 67,974 $ 606,927 $ 3,854,535 $ 23,163,494 For the nine months ended September 30, 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) 71,954 822 45,359 4,596 38,466 161,197 Charge-offs (49,740) (2,645) (38,597) (4,415) (83,507) (178,904) Recoveries 18,707 6,497 1,861 1,779 20,897 49,741 Net write-downs related to transferred to held-for-sale (29,996) - - - - (29,996) Allowance transferred from covered loans 8,453 1,424 582 - 2,578 13,037 Ending balance $ 220,967 $ 11,581 $ 130,065 $ 9,091 $ 132,506 $ 504,210 Specific ALLL $ 83,615 $ 358 $ 46,956 $ 634 $ 24,221 $ 155,784 General ALLL $ 137,352 $ 11,223 $ 83,109 $ 8,457 $ 108,285 $ 348,426 Loans held-in-portfolio: Impaired non-covered loans $ 391,066 $ 2,536 $ 457,631 $ 2,645 $ 111,683 $ 965,561 Non-covered loans held-in-portfolio excluding impaired loans 7,130,678 106,142 5,762,764 604,282 3,249,213 16,853,079 Total non-covered loans held-in-portfolio $ 7,521,744 $ 108,678 $ 6,220,395 $ 606,927 $ 3,360,896 $ 17,818,640 For the nine months ended September 30, 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) 10,115 15,150 (1,812) - (253) 23,200 Charge-offs (37,936) (25,086) (4,695) - (843) (68,560) Recoveries 6,504 4,700 635 - 817 12,656 Net write-down related to loans transferred to held-for-sale (1,101) (542) (160) - (20) (1,823) Allowance transferred to non-covered loans (8,453) (1,424) (582) - (2,578) (13,037) Ending balance $ - $ - $ 34,334 $ - $ 175 $ 34,509 Specific ALLL $ - $ - $ - $ - $ - $ - General ALLL $ - $ - $ 34,334 $ - $ 175 $ 34,509 Loans held-in-portfolio: Impaired covered loans $ - $ - $ - $ - $ - $ - Covered loans held-in-portfolio excluding impaired loans - - 645,663 - 19,765 665,428 Total covered loans held-in-portfolio $ - $ - $ 645,663 $ - $ 19,765 $ 665,428 For the nine months ended September 30, 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) (3,471) 1,983 (2,439) (2,540) 5,017 (1,450) Charge-offs (1,190) - (1,329) (1,758) (7,318) (11,595) Recoveries 4,507 - 212 4,159 3,250 12,128 Net (write-down) recovery related to loans transferred to held-for-sale - - 5,529 - (3,401) 2,128 Ending balance $ 9,494 $ 3,170 $ 4,435 $ 2,805 $ 11,891 $ 31,795 Specific ALLL $ - $ - $ 589 $ - $ 475 $ 1,064 General ALLL $ 9,494 $ 3,170 $ 3,846 $ 2,805 $ 11,416 $ 30,731 Loans held-in-portfolio: Impaired loans $ - $ - $ 5,175 $ 1,188 $ 2,182 $ 8,545 Loans held-in-portfolio excluding impaired loans 2,608,680 583,814 939,909 66,786 471,692 4,670,881 Total loans held-in-portfolio $ 2,608,680 $ 583,814 $ 945,084 $ 67,974 $ 473,874 $ 4,679,426 For the nine months ended September 30, 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) 78,598 17,955 41,108 (2,540) 4,596 43,230 182,947 Charge-offs (88,866) (27,731) (44,621) (1,758) (4,415) (91,668) (259,059) Recoveries 29,718 11,197 2,708 4,159 1,779 24,964 74,525 Net write-down related to loans transferred to held-for-sale (31,097) (542) 5,369 - - (3,421) (29,691) Ending balance $ 230,461 $ 14,751 $ 168,834 $ 2,805 $ 9,091 $ 144,572 $ 570,514 Specific ALLL $ 83,615 $ 358 $ 47,545 $ - $ 634 $ 24,696 $ 156,848 General ALLL $ 146,846 $ 14,393 $ 121,289 $ 2,805 $ 8,457 $ 119,876 $ 413,666 Loans held-in-portfolio: Impaired loans $ 391,066 $ 2,536 $ 462,806 $ 1,188 $ 2,645 $ 113,865 $ 974,106 Loans held-in-portfolio excluding impaired loans 9,739,358 689,956 7,348,336 66,786 604,282 3,740,670 22,189,388 Total loans held-in-portfolio $ 10,130,424 $ 692,492 $ 7,811,142 $ 67,974 $ 606,927 $ 3,854,535 $ 23,163,494 |
Impaired Financing Receivables Table [Text Block] | September 30, 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 multi-family $ 85 $ 85 $ 46 $ - $ - $ 85 $ 85 $ 46 Commercial real estate non-owner occupied 110,625 115,037 36,192 11,063 20,294 121,688 135,331 36,192 Commercial real estate owner occupied 134,733 171,882 16,239 17,837 27,259 152,570 199,141 16,239 Commercial and industrial 46,710 47,996 6,050 7,815 11,466 54,525 59,462 6,050 Mortgage 431,074 473,535 43,567 56,898 67,478 487,972 541,013 43,567 Leasing 1,899 1,899 540 - - 1,899 1,899 540 Consumer: Credit cards 38,485 38,485 5,862 - - 38,485 38,485 5,862 Personal 66,704 66,704 17,201 - - 66,704 66,704 17,201 Auto 2,122 2,122 356 - - 2,122 2,122 356 Other 1,030 1,030 289 - - 1,030 1,030 289 Total Puerto Rico $ 833,467 $ 918,775 $ 126,342 $ 93,613 $ 126,497 $ 927,080 $ 1,045,272 $ 126,342 September 30, 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 $ 6,361 $ 7,309 $ 1,990 $ 2,535 $ 2,535 $ 8,896 $ 9,844 $ 1,990 Consumer: HELOCs 1,879 1,879 464 - - 1,879 1,879 464 Personal 709 709 261 - - 709 709 261 Total U.S. mainland $ 8,949 $ 9,897 $ 2,715 $ 2,535 $ 2,535 $ 11,484 $ 12,432 $ 2,715 September 30, 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 multi-family $ 85 $ 85 $ 46 $ - $ - $ 85 $ 85 $ 46 Commercial real estate non-owner occupied 110,625 115,037 36,192 11,063 20,294 121,688 135,331 36,192 Commercial real estate owner occupied 134,733 171,882 16,239 17,837 27,259 152,570 199,141 16,239 Commercial and industrial 46,710 47,996 6,050 7,815 11,466 54,525 59,462 6,050 Mortgage 437,435 480,844 45,557 59,433 70,013 496,868 550,857 45,557 Leasing 1,899 1,899 540 - - 1,899 1,899 540 Consumer: Credit Cards 38,485 38,485 5,862 - - 38,485 38,485 5,862 HELOCs 1,879 1,879 464 - - 1,879 1,879 464 Personal 67,413 67,413 17,462 - - 67,413 67,413 17,462 Auto 2,122 2,122 356 - - 2,122 2,122 356 Other 1,030 1,030 289 - - 1,030 1,030 289 Total Popular, Inc. $ 842,416 $ 928,672 $ 129,057 $ 96,148 $ 129,032 $ 938,564 $ 1,057,704 $ 129,057 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 September 30, 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 multi-family $ 43 $ 1 $ - $ - $ 43 $ 1 Commercial real estate non-owner occupied 140,083 1,345 - - 140,083 1,345 Commercial real estate owner occupied 136,565 1,408 - - 136,565 1,408 Commercial and industrial 55,685 483 - - 55,685 483 Construction 518 - - - 518 - Mortgage 482,067 3,538 8,730 68 490,797 3,606 Leasing 2,005 - - - 2,005 - Consumer: Credit cards 38,431 - - - 38,431 - Helocs - - 1,883 - 1,883 - Personal 67,077 - 651 - 67,728 - Auto 2,501 - - - 2,501 - Other 728 - - - 728 - Total Popular, Inc. $ 925,703 $ 6,775 $ 11,264 $ 68 $ 936,967 $ 6,843 For the quarter ended September 30, 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 $ 1,239 $ 23 $ - $ - $ 1,239 $ 23 Commercial real estate non-owner occupied 121,842 1,191 - - 121,842 1,191 Commercial real estate owner occupied 140,054 1,094 - - 140,054 1,094 Commercial and industrial 101,187 978 - - 101,187 978 Construction 3,082 - - - 3,082 - Mortgage 454,210 3,446 5,110 34 459,320 3,480 Legacy - - 1,273 - 1,273 - Leasing 2,600 - - - 2,600 - Consumer: Credit cards 39,893 - - - 39,893 - Helocs - - 1,608 - 1,608 - Personal 69,619 - 555 - 70,174 - Auto 2,083 - - - 2,083 - Other 614 - - - 614 - Total Popular, Inc. $ 936,423 $ 6,732 $ 8,546 $ 34 $ 944,969 $ 6,766 For the nine months ended September 30, 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 multi-family $ 21 $ 4 $ - $ - $ 21 $ 4 Commercial real estate non-owner occupied 129,372 3,971 - - 129,372 3,971 Commercial real estate owner occupied 147,305 4,349 - - 147,305 4,349 Commercial and industrial 58,518 1,466 - - 58,518 1,466 Construction 1,384 - - - 1,384 - Mortgage 475,108 10,311 8,046 133 483,154 10,444 Leasing 2,201 - - - 2,201 - Consumer: Credit cards 38,344 - - - 38,344 - HELOCs - - 1,741 - 1,741 - Personal 67,624 - 632 - 68,256 - Auto 2,689 - - - 2,689 - Other 606 - - - 606 - Total Popular, Inc. $ 923,172 $ 20,101 $ 10,419 $ 133 $ 933,591 $ 20,234 For the nine months ended September 30, 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 $ 757 $ 23 $ - $ - $ 757 $ 23 Commercial real estate non-owner occupied 105,308 3,339 - - 105,308 3,339 Commercial real estate owner occupied 134,011 3,591 - - 134,011 3,591 Commercial and industrial 135,657 3,155 63 - 135,720 3,155 Construction 7,317 - - - 7,317 - Mortgage 446,374 12,010 4,895 63 451,269 12,073 Legacy - - 636 - 636 - Leasing 2,787 - - - 2,787 - Consumer: Credit cards 40,615 - - - 40,615 - HELOCs - - 1,685 - 1,685 - Personal 70,430 - 380 - 70,810 - Auto 2,033 - - - 2,033 - Other 570 - 22 - 592 - Covered loans 4,409 253 - - 4,409 253 Total Popular, Inc. $ 950,268 $ 22,371 $ 7,681 $ 63 $ 957,949 $ 22,434 |
Troubled Debt Restructurings Loan Count By Type Of Modification Table [Text Block] | Puerto Rico For the quarter ended September 30, 2016 For the nine months ended September 30, 2016 Reduction in interest rate Extension of maturity date Combination of reduction in interest rate and extension of maturity date Other 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 3 - - - 5 1 - - Commercial real estate owner occupied 9 - - - 38 5 - - Commercial and industrial 8 - - - 22 1 - - Mortgage 17 22 129 43 55 56 353 132 Leasing - 1 - - - 1 - - Consumer: Credit cards 218 - 1 158 603 - 1 531 Personal 241 4 - - 761 14 - 1 Auto - 4 4 2 - 11 8 2 Other 6 - - - 27 - - - Total 502 31 134 203 1,511 89 362 666 U.S. Mainland For the quarter ended September 30, 2016 For the nine months ended September 30, 2016 Reduction in interest rate Extension of maturity date Combination of reduction in interest rate and extension of maturity date Other Reduction in interest rate Extension of maturity date Combination of reduction in interest rate and extension of maturity date Other Mortgage - 2 5 - - 2 23 1 Consumer: HELOCs - - - - - - 2 1 Personal - 2 1 - - 2 1 - Total - 4 6 - - 4 26 2 Popular, Inc. For the quarter ended September 30, 2016 For the nine months ended September 30, 2016 Reduction in interest rate Extension of maturity date Combination of reduction in interest rate and extension of maturity date Other 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 3 - - - 5 1 - - Commercial real estate owner occupied 9 - - - 38 5 - - Commercial and industrial 8 - - - 22 1 - - Mortgage 17 24 134 43 55 58 376 133 Leasing - 1 - - - 1 - - Consumer: Credit cards 218 - 1 158 603 - 1 531 HELOCs - - - - - - 2 1 Personal 241 6 1 - 761 16 1 1 Auto - 4 4 2 - 11 8 2 Other 6 - - - 27 - - - Total 502 35 140 203 1,511 93 388 668 Puerto Rico For the quarter ended September 30, 2015 For the nine months ended September 30, 2015 Reduction in interest rate Extension of maturity date Combination of reduction in interest rate and extension of maturity date Other 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 1 2 - - 6 10 - - Commercial real estate owner occupied 12 5 - - 22 14 - - Commercial and industrial 7 4 - - 18 15 - - Construction - 1 - - 1 1 - - Mortgage 12 9 96 38 41 39 277 76 Leasing - 5 1 - - 7 15 - Consumer: Credit cards 235 - - 187 657 - - 538 Personal 267 6 - 1 769 24 - 1 Auto - 3 - - - 8 3 - Other 13 - - - 35 - - - Total 547 35 97 226 1,549 120 295 615 U.S. Mainland For the quarter ended September 30, 2015 For the nine months ended September 30, 2015 Reduction in interest rate Extension of maturity date Combination of reduction in interest rate and extension of maturity date Other Reduction in interest rate Extension of maturity date Combination of reduction in interest rate and extension of maturity date Other Mortgage - - 4 1 - 1 14 1 Consumer: HELOCs - - 1 - - 1 1 2 Personal - - - - - 2 - - Total - - 5 1 - 4 15 3 Popular, Inc. For the quarter ended September 30, 2015 For the nine months ended September 30, 2015 Reduction in interest rate Extension of maturity date Combination of reduction in interest rate and extension of maturity date Other 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 1 2 - - 6 10 - - Commercial real estate owner occupied 12 5 - - 22 14 - - Commercial and industrial 7 4 - - 18 15 - - Construction - 1 - - 1 1 - - Mortgage 12 9 100 39 41 40 291 77 Leasing - 5 1 - - 7 15 - Consumer: Credit cards 235 - - 187 657 - - 538 HELOCs - - 1 - - 1 1 2 Personal 267 6 - 1 769 26 - 1 Auto - 3 - - - 8 3 - Other 13 - - - 35 - - - Total 547 35 102 227 1,549 124 310 618 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Puerto Rico For the quarter ended September 30, 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 3 $ 469 $ 3,085 $ 860 Commercial real estate owner occupied 9 773 1,874 136 Commercial and industrial 8 246 301 21 Mortgage 211 24,718 24,054 1,646 Leasing 1 15 15 3 Consumer: Credit cards 377 3,321 3,715 450 Personal 245 4,367 4,428 832 Auto 10 123 134 27 Other 6 23 23 4 Total 870 $ 34,055 $ 37,629 $ 3,979 U.S. Mainland For the quarter ended September 30, 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 7 $ 537 $ 627 $ 134 Consumer: Personal 3 114 119 21 Total 10 $ 651 $ 746 $ 155 Popular, Inc. For the quarter ended September 30, 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 3 $ 469 $ 3,085 $ 860 Commercial real estate owner occupied 9 773 1,874 136 Commercial and industrial 8 246 301 21 Mortgage 218 25,255 24,681 1,780 Leasing 1 15 15 3 Consumer: Credit cards 377 3,321 3,715 450 Personal 248 4,481 4,547 853 Auto 10 123 134 27 Other 6 23 23 4 Total 880 $ 34,706 $ 38,375 $ 4,134 Puerto Rico For the quarter ended September 30, 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 real estate non-owner occupied 3 $ 775 $ 769 $ 33 Commercial real estate owner occupied 17 2,830 2,654 (3) Commercial and industrial 11 7,970 8,386 10 Construction 1 40 39 (4) Mortgage 155 18,089 18,286 1,490 Leasing 6 135 132 30 Consumer: Credit cards 422 3,485 3,994 583 Personal 274 4,393 4,440 992 Auto 3 41 45 12 Other 13 30 30 5 Total 905 $ 37,788 $ 38,775 $ 3,148 U.S. Mainland For the quarter ended September 30, 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 5 $ 426 $ 454 $ 186 Consumer: HELOCs 1 123 128 54 Total 6 $ 549 $ 582 $ 240 Popular, Inc. For the quarter ended September 30, 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 real estate non-owner occupied 3 $ 775 $ 769 $ 33 Commercial real estate owner occupied 17 2,830 2,654 (3) Commercial and industrial 11 7,970 8,386 10 Construction 1 40 39 (4) Mortgage 160 18,515 18,740 1,676 Leasing 6 135 132 30 Consumer: Credit cards 422 3,485 3,994 583 HELOCs 1 123 128 54 Personal 274 4,393 4,440 992 Auto 3 41 45 12 Other 13 30 30 5 Total 911 $ 38,337 $ 39,357 $ 3,388 Puerto Rico For the nine months ended September 30, 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 6 $ 6,989 $ 9,589 $ 5,029 Commercial real estate owner occupied 43 11,623 11,648 473 Commercial and industrial 23 3,832 3,884 1 Mortgage 596 67,093 65,012 4,640 Leasing 1 15 15 3 Consumer: Credit cards 1,135 10,352 11,768 1,677 Personal 776 12,975 13,076 2,763 Auto 21 256 274 52 Other 27 78 80 14 Total 2,628 $ 113,213 $ 115,346 $ 14,652 U.S. mainland For the nine months ended September 30, 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 26 $ 2,498 $ 2,690 $ 767 Consumer: HELOCs 3 355 398 216 Personal 3 114 119 21 Total 32 $ 2,967 $ 3,207 $ 1,004 Popular, Inc. For the nine months ended September 30, 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 6 $ 6,989 $ 9,589 $ 5,029 Commercial real estate owner occupied 43 11,623 11,648 473 Commercial and industrial 23 3,832 3,884 1 Mortgage 622 69,591 67,702 5,407 Leasing 1 15 15 3 Consumer: Credit cards 1,135 10,352 11,768 1,677 HELOCs 3 355 398 216 Personal 779 13,089 13,195 2,784 Auto 21 256 274 52 Other 27 78 80 14 Total 2,660 $ 116,180 $ 118,553 $ 15,656 Puerto Rico For the nine months ended September 30, 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 16 67,494 67,635 13,701 Commercial real estate owner occupied 36 12,620 11,690 330 Commercial and industrial 33 20,337 21,272 672 Construction 2 308 298 (170) Mortgage 433 42,275 48,197 3,786 Leasing 22 557 556 126 Consumer: Credit cards 1,195 10,367 11,747 1,780 Personal 794 13,646 13,689 2,968 Auto 11 101 158 29 Other 35 86 97 14 Total 2,579 $ 168,342 $ 175,890 $ 23,238 U.S. mainland For the nine months ended September 30, 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 16 $ 1,081 $ 2,112 $ 365 Consumer: HELOCs 4 197 295 79 Personal 2 30 30 3 Total 22 $ 1,308 $ 2,437 $ 447 Popular, Inc. For the nine months ended September 30, 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 16 67,494 67,635 13,701 Commercial real estate owner occupied 36 12,620 11,690 330 Commercial and industrial 33 20,337 21,272 672 Construction 2 308 298 (170) Mortgage 449 43,356 50,309 4,151 Leasing 22 557 556 126 Consumer: Credit cards 1,195 10,367 11,747 1,780 HELOCs 4 197 295 79 Personal 796 13,676 13,719 2,971 Auto 11 101 158 29 Other 35 86 97 14 Total 2,601 $ 169,650 $ 178,327 $ 23,685 |
T D R Loans Subsequent Default Table [Text Block] | Puerto Rico Defaulted during the quarter ended September 30, 2016 Defaulted during the nine months ended September 30, 2016 (Dollars in thousands) Loan count Recorded investment as of first default date Loan count Recorded investment as of first default date Commercial real estate non-owner occupied - $ - 2 $ 327 Commercial real estate owner occupied 3 773 10 3,276 Commercial and industrial 3 758 5 785 Mortgage 52 5,409 132 14,132 Leasing - - 4 29 Consumer: Credit cards 109 1,084 221 2,259 Personal 34 623 93 2,375 Auto 3 63 6 111 Other 5 10 5 10 Total 209 $ 8,720 478 $ 23,304 Popular, Inc. Defaulted during the quarter ended September 30, 2016 Defaulted during the nine months ended September 30, 2016 (Dollars in thousands) Loan count Recorded investment as of first default date Loan count Recorded investment as of first default date Commercial real estate non-owner occupied - $ - 2 $ 327 Commercial real estate owner occupied 3 773 10 3,276 Commercial and industrial 3 758 5 785 Mortgage 52 5,409 132 14,132 Leasing - - 4 29 Consumer: Credit cards 109 1,084 221 2,259 Personal 34 623 93 2,375 Auto 3 63 6 111 Other 5 10 5 10 Total 209 $ 8,720 478 $ 23,304 Puerto Rico Defaulted during the quarter ended September 30, 2015 Defaulted during the nine months ended September 30, 2015 (Dollars in thousands) Loan count Recorded investment as of first default date Loan count Recorded investment as of first default date Commercial real estate owner occupied - $ - 1 $ 291 Commercial and industrial 3 521 5 675 Construction - - 2 1,192 Mortgage 51 4,208 85 11,633 Leasing 1 68 7 170 Consumer: Credit cards 124 1,444 314 3,238 Personal 29 669 42 990 Auto 2 33 9 128 Total 210 $ 6,943 465 $ 18,317 U.S. Mainland Defaulted during the quarter ended September 30, 2015 Defaulted during the nine months ended September 30, 2015 (Dollars in thousands) Loan count Recorded investment as of first default date Loan count Recorded investment as of first default date Mortgage 1 $ 94 1 $ 94 Total 1 $ 94 1 $ 94 Popular, Inc. Defaulted during the quarter ended September 30, 2015 Defaulted during the nine months ended September 30, 2015 (Dollars in thousands) Loan count Recorded investment as of first default date Loan count Recorded investment as of first default date Commercial real estate owner occupied - $ - 1 $ 291 Commercial and industrial 3 521 5 675 Construction - - 2 1,192 Mortgage 52 4,302 86 11,727 Leasing 1 68 7 170 Consumer: Credit cards 124 1,444 314 3,238 Personal 29 669 42 990 Auto 2 33 9 128 Total 211 $ 7,037 466 $ 18,411 |
Financing Receivable Credit Quality Indicators Table Text Block | September 30, 2016 Special Pass/ (In thousands) Watch Mention Substandard Doubtful Loss Sub-total Unrated Total Puerto Rico [1] Commercial multi-family $ 2,751 $ 992 $ 6,445 $ - $ - $ 10,188 $ 166,313 $ 176,501 Commercial real estate non-owner occupied 317,867 392,113 369,350 210 - 1,079,540 1,518,911 2,598,451 Commercial real estate owner occupied 315,009 138,969 379,828 1,600 - 835,406 1,006,791 1,842,197 Commercial and industrial 148,672 121,248 239,447 794 14 510,175 2,126,845 2,637,020 Total Commercial 784,299 653,322 995,070 2,604 14 2,435,309 4,818,860 7,254,169 Construction 25 1,229 2,208 - - 3,462 77,592 81,054 Mortgage 3,769 2,923 212,834 - - 219,526 5,745,312 5,964,838 Leasing - - 2,878 - - 2,878 679,932 682,810 Consumer: Credit cards - - 18,186 - - 18,186 1,087,571 1,105,757 HELOCs - - 102 - - 102 8,518 8,620 Personal 1,106 889 21,957 - - 23,952 1,148,604 1,172,556 Auto - - 12,073 - 136 12,209 816,615 828,824 Other - - 17,239 - 152 17,391 160,682 178,073 Total Consumer 1,106 889 69,557 - 288 71,840 3,221,990 3,293,830 Total Puerto Rico $ 789,199 $ 658,363 $ 1,282,547 $ 2,604 $ 302 $ 2,733,015 $ 14,543,686 $ 17,276,701 U.S. mainland Commercial multi-family $ 3,990 $ 6,553 $ 695 $ - $ - $ 11,238 $ 934,960 $ 946,198 Commercial real estate non-owner occupied 59,157 197 4,887 - - 64,241 1,161,757 1,225,998 Commercial real estate owner occupied 6,784 - 9,803 - - 16,587 220,894 237,481 Commercial and industrial 4,035 560 152,385 - - 156,980 716,365 873,345 Total Commercial 73,966 7,310 167,770 - - 249,046 3,033,976 3,283,022 Construction - 8,038 43,962 - - 52,000 598,298 650,298 Mortgage - - 14,429 - - 14,429 795,230 809,659 Legacy 981 837 4,768 - - 6,586 41,328 47,914 Consumer: Credit cards - - 82 - - 82 191 273 HELOCs - - 1,831 - 2,798 4,629 258,584 263,213 Personal - - 1,398 - 569 1,967 262,647 264,614 Auto - - - - - - 12 12 Other - - - - - - 266 266 Total Consumer - - 3,311 - 3,367 6,678 521,700 528,378 Total U.S. mainland $ 74,947 $ 16,185 $ 234,240 $ - $ 3,367 $ 328,739 $ 4,990,532 $ 5,319,271 Popular, Inc. Commercial multi-family $ 6,741 $ 7,545 $ 7,140 $ - $ - $ 21,426 $ 1,101,273 $ 1,122,699 Commercial real estate non-owner occupied 377,024 392,310 374,237 210 - 1,143,781 2,680,668 3,824,449 Commercial real estate owner occupied 321,793 138,969 389,631 1,600 - 851,993 1,227,685 2,079,678 Commercial and industrial 152,707 121,808 391,832 794 14 667,155 2,843,210 3,510,365 Total Commercial 858,265 660,632 1,162,840 2,604 14 2,684,355 7,852,836 10,537,191 Construction 25 9,267 46,170 - - 55,462 675,890 731,352 Mortgage 3,769 2,923 227,263 - - 233,955 6,540,542 6,774,497 Legacy 981 837 4,768 - - 6,586 41,328 47,914 Leasing - - 2,878 - - 2,878 679,932 682,810 Consumer: Credit cards - - 18,268 - - 18,268 1,087,762 1,106,030 HELOCs - - 1,933 - 2,798 4,731 267,102 271,833 Personal 1,106 889 23,355 - 569 25,919 1,411,251 1,437,170 Auto - - 12,073 - 136 12,209 816,627 828,836 Other - - 17,239 - 152 17,391 160,948 178,339 Total Consumer 1,106 889 72,868 - 3,655 78,518 3,743,690 3,822,208 Total Popular, Inc. $ 864,146 $ 674,548 $ 1,516,787 $ 2,604 $ 3,669 $ 3,061,754 $ 19,534,218 $ 22,595,972 The following table presents the weighted average obligor risk rating at September 30, 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 11.14 5.91 Commercial real estate non-owner occupied 11.07 6.89 Commercial real estate owner occupied 11.27 7.13 Commercial and industrial 11.14 7.16 Total Commercial 11.16 7.05 Construction 11.00 7.71 U.S. mainland: Substandard Pass Commercial multi-family 11.30 7.26 Commercial real estate non-owner occupied 11.17 6.72 Commercial real estate owner occupied 11.11 7.32 Commercial and industrial 11.57 6.09 Total Commercial 11.53 6.78 Construction 11.00 7.71 Legacy 11.11 7.87 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 September 30, 2016 December 31, 2015 (In thousands) Accruing Non-Accruing Total Related Allowance Accruing Non-Accruing Total Related Allowance Commercial $ 163,381 $ 84,872 $ 248,253 $ 56,444 $ 166,415 $ 88,117 $ 254,532 $ 37,355 Construction - - - - 221 2,259 2,480 264 Mortgage 722,450 122,225 844,675 45,557 644,013 130,483 774,496 44,029 Leases 1,296 603 1,899 540 1,791 609 2,400 573 Consumer 101,476 12,818 114,294 24,433 104,630 12,805 117,435 23,963 Total $ 988,603 $ 220,518 $ 1,209,121 $ 126,974 $ 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 September 30, 2016 December 31, 2015 (In thousands) Accruing Non-Accruing Total Related Allowance Accruing Non-Accruing Total Related Allowance Mortgage $ 3,033 $ 2,336 $ 5,369 $ - $ 3,328 $ 3,268 $ 6,596 $ - Total $ 3,033 $ 2,336 $ 5,369 $ - $ 3,328 $ 3,268 $ 6,596 $ - |
FDIC loss share asset and tru51
FDIC loss share asset and true up payment obligation (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
FDIC Indemnification Asset Roll Forward [Table Text Block] | Quarters ended September 30, Nine months ended September 30, (In thousands) 2016 2015 2016 2015 Balance at beginning of period $ 214,029 $ 392,947 $ 310,221 $ 542,454 Amortization of loss-share indemnification asset (1,259) (3,931) (9,337) (62,312) Credit impairment losses (reversal) to be covered under loss-sharing agreements 659 (183) (959) 15,710 Reimbursable expenses 853 6,276 7,038 70,551 Recoveries reimbursable to the FDIC - - (4,093) - Net payments from FDIC under loss-sharing agreements (6,819) (80,993) (95,407) (245,416) Arbitration award expense (54,924) - (54,924) - Other adjustments attributable to FDIC loss-sharing agreements (72) (2,170) (72) (9,041) Balance at end of period $ 152,467 $ 311,946 $ 152,467 $ 311,946 |
FDIC | |
Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block] | (In thousands) September 30, 2016 December 31, 2015 Carrying amount (fair value) $ 134,487 $ 119,745 Undiscounted amount $ 166,453 $ 168,692 |
Mortgage banking activities (Ta
Mortgage banking activities (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Table Text Block | |
Mortgage Banking Activities [Table Text Block] | Quarters ended September 30, Nine months ended September 30, (In thousands) 2016 2015 2016 2015 Mortgage servicing fees, net of fair value adjustments: Mortgage servicing fees $ 14,520 $ 17,020 $ 43,997 $ 43,957 Mortgage servicing rights fair value adjustments (6,062) 1,038 (18,879) (5,808) Total mortgage servicing fees, net of fair value adjustments 8,458 18,058 25,118 38,149 Net gain on sale of loans, including valuation on loans held-for-sale 8,857 9,698 24,441 24,999 Trading account (loss) profit: Unrealized (losses) gains on outstanding derivative positions 95 (69) (44) (10) Realized (losses) gains on closed derivative positions (2,138) (3,492) (7,465) (4,766) Total trading account (loss) profit (2,043) (3,561) (7,509) (4,776) Total mortgage banking activities $ 15,272 $ 24,195 $ 42,050 $ 58,372 |
Transfers of financial assets53
Transfers of financial assets and mortgage servicing assets (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Transfers and Servicing of Financial Assets | |
Schedule Of Securitizations Of Financial Assets Accounted For As Sale [Text Block] | Proceeds Obtained During the Quarter Ended September 30, 2016 (In thousands) Level 1 Level 2 Level 3 Initial Fair Value Assets Investments securities available for sale: Mortgage-backed securities - GNMA $ - $ 20,686 $ - $ 20,686 Mortgage-backed securities - FNMA - 5,138 - 5,138 Total investment securities available-for-sale $ - $ 25,824 $ - $ 25,824 Trading account securities: Mortgage-backed securities - GNMA $ - $ 140,255 $ - $ 140,255 Mortgage-backed securities - FNMA - 44,574 - 44,574 Total trading account securities $ - $ 184,829 $ - $ 184,829 Mortgage servicing rights $ - $ - $ 2,695 $ 2,695 Total $ - $ 210,653 $ 2,695 $ 213,348 Proceeds Obtained During the Nine Months Ended September 30, 2016 (In thousands) Level 1 Level 2 Level 3 Initial Fair Value Assets Investments securities available for sale: Mortgage-backed securities - GNMA $ - $ 20,686 $ - $ 20,686 Mortgage-backed securities - FNMA - 5,138 - 5,138 Total investment securities available-for-sale $ - $ 25,824 $ - $ 25,824 Trading account securities: Mortgage-backed securities - GNMA $ - $ 444,382 $ - $ 444,382 Mortgage-backed securities - FNMA - 123,888 - 123,888 Total trading account securities $ - $ 568,270 $ - $ 568,270 Mortgage servicing rights $ - $ - $ 7,235 $ 7,235 Total $ - $ 594,094 $ 7,235 $ 601,329 Proceeds Obtained During the Quarter Ended September 30, 2015 (In thousands) Level 1 Level 2 Level 3 Initial Fair Value Assets Trading account securities: Mortgage-backed securities - GNMA $ - $ 251,061 $ - $ 251,061 Mortgage-backed securities - FNMA - 56,800 - 56,800 Total trading account securities $ - $ 307,861 $ - $ 307,861 Mortgage servicing rights $ - $ - $ 3,309 $ 3,309 Total $ - $ 307,861 $ 3,309 $ 311,170 Proceeds Obtained During the Nine Months Ended September 30, 2015 (In thousands) Level 1 Level 2 Level 3 Initial Fair Value Assets Trading account securities: Mortgage-backed securities - GNMA $ - $ 650,891 $ - $ 650,891 Mortgage-backed securities - FNMA - 174,235 - 174,235 Total trading account securities $ - $ 825,126 $ - $ 825,126 Mortgage servicing rights $ - $ - $ 10,078 $ 10,078 Total $ - $ 825,126 $ 10,078 $ 835,204 |
Schedule Of Servicing Assets At Fair Value Text Block | Residential MSRs (In thousands) September 30, 2016 September 30, 2015 Fair value at beginning of period $ 211,405 $ 148,694 Additions 7,843 73,411 Changes due to payments on loans [1] (13,381) (12,891) Reduction due to loan repurchases (1,183) (1,576) Changes in fair value due to changes in valuation model inputs or assumptions (4,315) 3,213 Other disposals (15) - Fair value at end of period $ 200,354 $ 210,851 [1] Represents the change due to collection / realization of expected cash flow 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 Nine months ended September 30, 2016 September 30, 2015 September 30, 2016 September 30, 2015 Prepayment speed 4.6 % 7.0 % 5.2 % 7.0 % Weighted average life 10.6 years 8.8 years 10.1 years 7.1 years Discount rate (annual rate) 11.0 % 11.1 % 11.0 % 11.0 % |
Schedule of Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets | Originated MSRs Purchased MSRs (In thousands) September 30, 2016 December 31, 2015 September 30, 2016 December 31, 2015 Fair value of servicing rights $ 91,628 $ 98,648 $ 108,726 $ 112,757 Weighted average life (in years) 7.4 7.3 6.5 6.2 Weighted average prepayment speed (annual rate) 5.5 % 6.0 % 5.9 % 6.9 % Impact on fair value of 10% adverse change $ (2,074) $ (2,488) $ (2,475) $ (2,871) Impact on fair value of 20% adverse change $ (4,307) $ (5,241) $ (5,118) $ (6,034) Weighted average discount rate (annual rate) 11.5 % 11.5 % 11.0 % 11.0 % Impact on fair value of 10% adverse change $ (3,741) $ (4,083) $ (4,085) $ (4,211) Impact on fair value of 20% adverse change $ (7,431) $ (8,206) $ (8,134) $ (8,525) |
Other Real Estate Owned (Tables
Other Real Estate Owned (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Other Real Estate | |
Other Real Estate Owned Roll Forward [Table Text Block] | For the quarter ended September 30, 2016 Non-covered Non-covered Covered OREO OREO OREO (In thousands) Commercial/ Construction Mortgage Mortgage Total Balance at beginning of period $ 24,110 $ 152,915 $ 37,984 $ 215,009 Write-downs in value (255) (2,859) (667) (3,781) Additions 2,388 27,355 4,212 33,955 Sales (5,052) (13,866) (3,803) (22,721) Other adjustments - 92 (312) (220) Ending balance $ 21,191 $ 163,637 $ 37,414 $ 222,242 For the nine months ended September 30, 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 (2,533) (6,489) (1,533) (10,555) Additions 5,500 83,255 13,935 102,690 Sales (13,632) (34,769) (10,759) (59,160) Other adjustments (615) (1,120) (914) (2,649) Ending balance $ 21,191 $ 163,637 $ 37,414 $ 222,242 For the quarter ended September 30, 2015 Non-covered Non-covered Covered OREO OREO OREO (In thousands) Commercial/ Construction Mortgage Mortgage Total Balance at beginning of period $ 34,725 $ 107,530 $ 33,504 $ 175,759 Write-downs in value (668) (1,843) (640) (3,151) Additions 7,959 24,318 5,759 38,036 Sales (3,190) (12,402) (2,922) (18,514) Other adjustments (510) (93) - (603) Ending balance $ 38,316 $ 117,510 $ 35,701 $ 191,527 For the nine months ended September 30, 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 (10,717) (5,678) (20,350) (3,315) (40,060) Additions 12,787 63,925 9,661 20,019 106,392 Sales (17,485) (39,731) (59,749) (22,550) (139,515) Other adjustments 244 (615) (452) (233) (1,056) Transfer to non-covered status [1] 14,504 3,092 (14,504) (3,092) - Ending balance $ 38,316 $ 117,510 $ - $ 35,701 $ 191,527 [1] Represents the reclassification of OREOs to the non-covered category, pursuant to the expiration of the commercial and consumer shared-loss arrangement with the FDIC related to loans acquired from Westernbank, on June 30, 2015. |
Other assets (Tables)
Other assets (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Other Assets Abstract | |
Schedule Of Other Assets Table Text Block | (In thousands) September 30, 2016 December 31, 2015 Net deferred tax assets (net of valuation allowance) $ 1,231,356 $ 1,302,452 Investments under the equity method 214,797 212,838 Prepaid taxes 175,400 180,969 Other prepaid expenses 88,071 79,215 Derivative assets 13,427 16,959 Trades receivable from brokers and counterparties 80,125 78,759 Principal, interest and escrow servicing advances 74,475 79,862 Guaranteed mortgage loan claims receivable 151,478 101,628 Others 134,810 140,480 Total other assets $ 2,163,939 $ 2,193,162 |
Goodwill and other intangible56
Goodwill and other intangible assets (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Goodwill and Intangible Assets Disclosure | |
Carrying Amount of Goodwill by Reportable Segments and Corporate Group | 2016 Purchase Balance at Goodwill on accounting Goodwill Balance at (In thousands) January 1, 2016 acquisition adjustments impairment September 30,2016 Banco Popular de Puerto Rico $ 280,221 $ - $ - $ (3,801) $ 276,420 Banco Popular North America 346,167 - 4,707 - 350,874 Total Popular, Inc. $ 626,388 $ - $ 4,707 $ (3,801) $ 627,294 2015 Purchase Balance at Goodwill on accounting Goodwill Balance at (In thousands) January 1, 2015 acquisition adjustments impairment September 30, 2015 Banco Popular de Puerto Rico $ 250,109 $ 3,899 $ (3,385) $ - $ 250,623 Banco Popular North America 215,567 38,735 - - 254,302 Total Popular, Inc. $ 465,676 $ 42,634 $ (3,385) $ - $ 504,925 September 30, 2016 Balance at Balance at Balance at Balance at January 1, Accumulated January 1, September 30, Accumulated September 30, 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 $ 3,801 $ 276,420 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 $ 168,212 $ 627,294 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 September 30, 2016 Core deposits $ 63,539 $ 43,467 $ 20,072 Other customer relationships 36,449 14,748 21,701 Total other intangible assets $ 99,988 $ 58,215 $ 41,773 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 $ 2,836 Year 2017 9,378 Year 2018 9,286 Year 2019 9,042 Year 2020 4,967 Year 2021 2,157 |
Deposits (Tables)
Deposits (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Table Text Block | |
Interest Bearing Deposits Table [Text Block] | (In thousands) September 30, 2016 December 31, 2015 Savings accounts $ 7,467,000 $ 7,010,391 NOW, money market and other interest bearing demand deposits 8,007,752 5,632,449 Total savings, NOW, money market and other interest bearing demand deposits 15,474,752 12,642,840 Certificates of deposit: Under $100,000 3,668,667 4,014,359 $100,000 and over 4,233,339 4,151,009 Total certificates of deposit 7,902,006 8,165,368 Total interest bearing deposits $ 23,376,758 $ 20,808,208 |
Summary Of Certificates Of Deposit By Maturity Disclosures Table [Text Block] | (In thousands) 2016 $ 2,153,326 2017 2,331,194 2018 1,122,454 2019 641,676 2020 924,486 2021 and thereafter 728,870 Total certificates of deposit $ 7,902,006 |
Borrowings (Tables)
Borrowings (Tables) - Debt Instrument [Domain] | 9 Months Ended |
Sep. 30, 2016 | |
Schedule Of Fed Funds Purchased And Assets Sold Under Agreements To Repurchase Table [Text Block] | (In thousands) September 30, 2016 December 31, 2015 Federal funds purchased $ - $ 50,000 Assets sold under agreements to repurchase 765,251 712,145 Total federal funds purchased and assets sold under agreements to repurchase $ 765,251 $ 762,145 |
Schedule of Repurchase Agreements [Table Text Block] | September 30, 2016 December 31, 2015 Repurchase Repurchase (In thousands) liability liability U.S. Treasury Securities Within 30 days $ 19,260 $ - After 30 to 90 days 34,793 - After 90 days 32,700 - Total U.S. Treasury Securities 86,753 - Obligations of U.S. government sponsored entities Within 30 days 81,832 243,708 After 30 to 90 days 72,900 - After 90 days 149,409 23,366 Total obligations of U.S. government sponsored entities 304,141 267,074 Mortgage-backed securities Within 30 days 51,456 124,878 After 30 to 90 days 149,665 154,582 After 90 days 147,330 142,441 Total mortgage-backed securities 348,451 421,901 Collateralized mortgage obligations Within 30 days 25,906 10,298 After 30 to 90 days - 12,872 Total collateralized mortgage obligations 25,906 23,170 Total $ 765,251 $ 712,145 |
Schedule of Short-term Debt [Table Text Block] | (In thousands) September 30, 2016 December 31, 2015 Others $ 1,200 $ 1,200 Total other short-term borrowings $ 1,200 $ 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) September 30, 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 % $ 632,151 $ 747,072 Advances with the FHLB with maturities ranging from 2018 through 2019 paying interest monthly at a floating rates ranging from 0.22% to 0.34% over the 1 month LIBOR 34,164 - 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 $5,733 (2015 - $7,296) 444,268 442,704 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 $483 (2015 - $505) 439,316 439,295 Others 18,321 19,008 Total notes payable $ 1,598,533 $ 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 $ 484,812 $ 1,200 $ 23,886 $ 509,898 2017 280,439 - 95,939 376,378 2018 - - 210,475 210,475 2019 - - 597,055 597,055 2020 - - 112,383 112,383 Later years - - 558,795 558,795 Total borrowings $ 765,251 $ 1,200 $ 1,598,533 $ 2,364,984 |
Offsetting of financial asset59
Offsetting of financial assets and liabilities (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Table Text Block | |
Offsetting Assets Table [Text Block] | As of September 30, 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 $ 13,427 $ - $ 13,427 $ 336 $ - $ - $ 13,091 Reverse repurchase agreements 22,380 - 22,380 - 22,380 - - Total $ 35,807 $ - $ 35,807 $ 336 $ 22,380 $ - $ 13,091 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 September 30, 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 $ 11,214 $ - $ 11,214 $ 336 $ 1,546 $ - $ 9,332 Repurchase agreements 765,251 - 765,251 - 765,251 - - Total $ 776,465 $ - $ 776,465 $ 336 $ 766,797 $ - $ 9,332 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) | 9 Months Ended |
Sep. 30, 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 Nine months ended September 30, September 30, (In thousands) 2016 2015 2016 2015 Foreign currency translation Beginning Balance $ (38,070) $ (34,505) $ (35,930) $ (32,832) Other comprehensive loss (325) (31) (2,465) (1,704) Net change (325) (31) (2,465) (1,704) Ending balance $ (38,395) $ (34,536) $ (38,395) $ (34,536) Adjustment of pension and postretirement benefit plans Beginning Balance $ (205,743) $ (200,215) $ (211,276) $ (205,187) Amounts reclassified from accumulated other comprehensive loss for amortization of net losses 3,348 3,064 10,041 9,195 Amounts reclassified from accumulated other comprehensive loss for amortization of prior service cost (580) (579) (1,740) (1,738) Net change 2,768 2,485 8,301 7,457 Ending balance $ (202,975) $ (197,730) $ (202,975) $ (197,730) Unrealized holding (losses) gains on investments Beginning Balance $ 98,761 $ 15,533 $ (9,560) $ 8,465 Other comprehensive (loss) income before reclassifications (14,131) 27,435 94,023 22,548 Other-than-temporary impairment amount reclassified from accumulated other comprehensive income - - 167 11,959 Amounts reclassified from accumulated other comprehensive income for gains on securities (316) (109) (316) (113) Net change (14,447) 27,326 93,874 34,394 Ending balance $ 84,314 $ 42,859 $ 84,314 $ 42,859 Unrealized net losses on cash flow hedges Beginning Balance $ (560) $ 156 $ (120) $ (318) Other comprehensive loss before reclassifications (685) (1,571) (2,843) (2,505) Amounts reclassified from accumulated other comprehensive loss 1,006 1,016 2,724 2,424 Net change 321 (555) (119) (81) Ending balance $ (239) $ (399) $ (239) $ (399) Total $ (157,295) $ (189,806) $ (157,295) $ (189,806) [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 Quarters ended Nine months ended Affected Line Item in the September 30, September 30, (In thousands) Consolidated Statements of Operations 2016 2015 2016 2015 Adjustment of pension and postretirement benefit plans Amortization of net losses Personnel costs $ (5,488) $ (5,025) $ (16,461) $ (15,075) Amortization of prior service cost Personnel costs 950 950 2,850 2,850 Total before tax (4,538) (4,075) (13,611) (12,225) Income tax benefit 1,770 1,590 5,310 4,768 Total net of tax $ (2,768) $ (2,485) $ (8,301) $ (7,457) Unrealized holding (losses) gains on investments Other-than-temporary impairment Other-than-temporary impairment losses on available-for-sale debt securities $ - $ - $ (209) $ (14,445) Realized gains on sale of securities Net gain on sale of investment securities 349 136 349 141 Total before tax 349 136 140 (14,304) Income tax (expense) benefit (33) (27) 9 2,458 Total net of tax $ 316 $ 109 $ 149 $ (11,846) Unrealized net losses on cash flow hedges Forward contracts Mortgage banking activities $ (1,650) $ (1,664) $ (4,466) $ (3,973) Total before tax (1,650) (1,664) (4,466) (3,973) Income tax benefit 644 648 1,742 1,549 Total net of tax $ (1,006) $ (1,016) $ (2,724) $ (2,424) Total reclassification adjustments, net of tax $ (3,458) $ (3,392) $ (10,876) $ (21,727) |
Guarantees (Tables)
Guarantees (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Guarantee on loans sold or serviced with credit recourse | |
Credit Recourse Agreements Reserve Table [Text Block] | Quarters ended September 30, Nine months ended September 30, (In thousands) 2016 2015 2016 2015 Balance as of beginning of period $ 56,931 $ 57,589 $ 58,663 $ 59,438 Provision for recourse liability 4,086 4,394 11,613 15,262 Net charge-offs (4,737) (4,927) (13,996) (17,644) Balance as of end of period $ 56,280 $ 57,056 $ 56,280 $ 57,056 |
Banco Popular de Puerto Rico | Guarantee on loans sold or serviced with representation and warranties | |
Indemnifications and Representations and Warranties Table [Text Block] | Quarters ended September 30, Nine months ended September 30, (In thousands) 2016 2015 2016 2015 Balance as of beginning of period $ 10,702 $ 6,062 $ 8,087 $ 15,959 Provision (reversal) for representation and warranties (34) 1,409 2,767 (6,199) Net charge-offs (27) (14) (213) (53) Settlements paid - - - (2,250) Balance as of end of period $ 10,641 $ 7,457 $ 10,641 $ 7,457 |
Commitments and contingencies (
Commitments and contingencies (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Commitments and Contingencies Disclosure | |
Schedule Of Fair Value Off Balance Sheet Risks Text Block | (In thousands) September 30, 2016 December 31, 2015 Commitments to extend credit: Credit card lines $ 4,542,246 $ 4,552,331 Commercial and construction lines of credit 2,813,109 2,619,092 Other consumer unused credit commitments 266,780 262,685 Commercial letters of credit 5,723 2,040 Standby letters of credit 37,097 49,670 Commitments to originate or fund mortgage loans 29,195 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 After 1 to 5 years $ 851 $ - $ 851 $ 851 After 5 to 10 years 3,748 - 3,748 3,748 After 10 years 16,435 - 16,435 16,435 Total Central Government 21,034 - 21,034 21,034 Government Development Bank (GDB) Within 1 year 2 - 2 2 After 1 to 5 years 1,352 - 1,352 1,352 After 5 to 10 years 39 - 39 39 Total Government Development Bank (GDB) 1,393 - 1,393 1,393 Public Corporations: Puerto Rico Aqueduct and Sewer Authority Within 1 year - - - 27,186 After 10 years 503 - 503 503 Total Puerto Rico Aqueduct and Sewer Authority 503 - 503 27,689 Puerto Rico Electric Power Authority After 10 years 23 - 23 23 Total Puerto Rico Electric Power Authority 23 - 23 23 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 3,105 26,631 29,736 31,798 After 1 to 5 years 14,540 128,039 142,579 146,278 After 5 to 10 years 18,635 145,005 163,640 163,640 After 10 years 16,820 148,160 164,980 164,980 Total Municipalities 53,100 447,835 500,935 506,696 Total Direct Government Exposure $ 76,057 $ 447,835 $ 523,892 $ 556,839 |
Non-consolidated variable int63
Non-consolidated variable interest entities (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
FNMA, GNMA, FHLMC VIE | |
Schedule Of Variable Interest Entities Text Block | (In thousands) September 30, 2016 December 31, 2015 Assets Servicing assets: Mortgage servicing rights $ 154,740 $ 163,224 Total servicing assets $ 154,740 $ 163,224 Other assets: Servicing advances $ 23,689 $ 24,431 Total other assets $ 23,689 $ 24,431 Total assets $ 178,429 $ 187,655 Maximum exposure to loss $ 178,429 $ 187,655 |
PRLP 2011 Holding, LLC | |
Schedule Of Variable Interest Entities Text Block | PRLP 2011 Holdings, LLC (In thousands) September 30, 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 $ 9,586 $ 13,069 Total assets $ 9,586 $ 14,059 Deposits $ (3,603) $ (18,808) Total liabilities $ (3,603) $ (18,808) Total net assets (liabilities) $ 5,983 $ (4,749) Maximum exposure to loss $ 5,983 $ - |
PR Asset Portfolio 2013-1 International, LLC | |
Schedule Of Variable Interest Entities Text Block | PR Asset Portfolio 2013-1 International, LLC (In thousands) September 30, 2016 December 31, 2015 Assets Loans held-in-portfolio: Acquisition loan $ - $ 35,121 Advances under the working capital line 762 885 Advances under the advance facility 11,393 22,296 Total loans held-in-portfolio $ 12,155 $ 58,302 Accrued interest receivable $ 48 $ 169 Other assets: Investment in PR Asset Portfolio 2013-1 International, LLC $ 24,184 $ 25,094 Total assets $ 36,387 $ 83,565 Deposits $ (8,380) $ (11,772) Total liabilities $ (8,380) $ (11,772) Total net assets $ 28,007 $ 71,793 Maximum exposure to loss $ 28,007 $ 71,793 |
Related party transactions (Tab
Related party transactions (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
PRLP 2011 Holding, LLC | |
Schedule Equity Method Investments Table [Text Block] | (In thousands) September 30, 2016 December 31, 2015 Equity investment in PRLP 2011 Holdings, LLC $ 9,586 $ 13,069 |
Proportionate Share Of Income Loss And Changes In Stockholders Equity TableTextBlock | Quarter ended Nine months ended (In thousands) September 30, 2016 September 30, 2016 Share of income (loss) from the equity investment in PRLP 2011 Holdings, LLC $ 511 $ (83) Quarter ended Nine months ended (In thousands) September 30, 2015 September 30, 2015 Share of loss from the equity investment in PRLP 2011 Holdings, LLC $ (633) $ (2,463) |
Income Statement Data Resulting From Related Party Transactions Table [Text Block] | Quarter ended Nine months ended (In thousands) September 30, 2016 September 30, 2016 Category Interest income on loan to PRLP 2011 Holdings, LLC $ - $ 11 Interest income Quarter ended Nine months ended (In thousands) September 30, 2015 September 30, 2015 Category Interest income on loan to PRLP 2011 Holdings, LLC $ 48 $ 161 Interest income |
Balance Sheet Data Resulting From Related Party Transactions Table [Text Block] | (In thousands) September 30, 2016 December 31, 2015 Loans $ - $ 980 Accrued interest receivable - 10 Deposits (non-interest bearing) (3,603) (18,808) Net total $ (3,603) $ (17,818) |
EVERTEC Inc. | |
Schedule Equity Method Investments Table [Text Block] | (In thousands) September 30, 2016 December 31, 2015 Equity investment in EVERTEC $ 37,357 $ 33,590 |
Proportionate Share Of Income Loss And Changes In Stockholders Equity TableTextBlock | Quarter ended Nine months ended (In thousands) September 30, 2016 September 30, 2016 Share of income from the investment in EVERTEC $ 3,198 $ 9,397 Share of other changes in EVERTEC's stockholders' equity 426 (899) Share of EVERTEC's changes in equity recognized in income $ 3,624 $ 8,498 Quarter ended Nine months ended (In thousands) September 30, 2015 September 30, 2015 Share of income from the investment in EVERTEC $ 2,162 $ 8,077 Share of other changes in EVERTEC's stockholders' equity 600 1,165 Share of EVERTEC's changes in equity recognized in income $ 2,762 $ 9,242 |
Income Statement Data Resulting From Related Party Transactions Table [Text Block] | Quarter ended Nine months ended (In thousands) September 30, 2016 September 30, 2016 Category Interest expense on deposits $ (15) $ (51) Interest expense ATH and credit cards interchange income from services to EVERTEC 7,533 21,948 Other service fees Rental income charged to EVERTEC 1,760 5,232 Net occupancy Processing fees on services provided by EVERTEC (44,923) (131,701) Professional fees Other services provided to EVERTEC 269 783 Other operating expenses Total $ (35,376) $ (103,789) Quarter ended Nine months ended (In thousands) September 30, 2015 September 30, 2015 Category Interest expense on deposits $ (15) $ (41) Interest expense ATH and credit cards interchange income from services to EVERTEC 6,961 20,614 Other service fees Rental income charged to EVERTEC 1,719 5,166 Net occupancy Processing fees on services provided by EVERTEC (41,147) (122,597) Professional fees Other services provided to EVERTEC 144 852 Other operating expenses Total $ (32,338) $ (96,006) |
Balance Sheet Data Resulting From Related Party Transactions Table [Text Block] | (In thousands) September 30, 2016 December 31, 2015 Accounts receivable (Other assets) $ 5,901 $ 3,148 Deposits (21,231) (23,973) Accounts payable (Other liabilities) (18,330) (16,192) Net total $ (33,660) $ (37,017) |
PR Asset Portfolio 2013-1 International, LLC | |
Schedule Equity Method Investments Table [Text Block] | (In thousands) September 30, 2016 December 31, 2015 Equity investment in PR Asset Portfolio 2013-1 International, LLC $ 24,184 $ 25,094 |
Proportionate Share Of Income Loss And Changes In Stockholders Equity TableTextBlock | Quarter ended Nine months ended (In thousands) September 30, 2016 September 30, 2016 Share of loss from the equity investment in PR Asset Portfolio 2013-1 International, LLC $ (587) $ (910) Quarter ended Nine months ended (In thousands) September 30, 2015 September 30, 2015 Share of loss from the equity investment in PR Asset Portfolio 2013-1 International, LLC $ (1,177) $ (5,645) |
Income Statement Data Resulting From Related Party Transactions Table [Text Block] | Quarter ended Nine months ended (In thousands) September 30, 2016 September 30, 2016 Category Interest income on loan to PR Asset Portfolio 2013-1 International, LLC $ 189 $ 923 Interest income Interest expense on deposits (1) (3) Interest expense Total $ 188 $ 920 Quarter ended Nine months ended (In thousands) September 30, 2015 September 30, 2015 Category Interest income on loan to PR Asset Portfolio 2013-1 International, LLC $ 659 $ 2,272 Interest income Interest expense on deposits (1) (2) Interest expense Total $ 658 $ 2,270 |
Balance Sheet Data Resulting From Related Party Transactions Table [Text Block] | (In thousands) September 30, 2016 December 31, 2015 Loans $ 12,155 $ 58,302 Accrued interest receivable 48 169 Deposits (8,380) (11,772) Net total $ 3,823 $ 46,699 |
Fair value measurement (Tables)
Fair value measurement (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Fair Value Disclosures | |
Schedule Of Fair Value Assets And Liabilities Measured On Recurring Basis Table Text Block | At September 30, 2016 (In thousands) Level 1 Level 2 Level 3 Total RECURRING FAIR VALUE MEASUREMENTS Assets Investment securities available-for-sale: U.S. Treasury securities $ - $ 1,619,416 $ - $ 1,619,416 Obligations of U.S. Government sponsored entities - 698,309 - 698,309 Obligations of Puerto Rico, States and political subdivisions - 26,976 - 26,976 Collateralized mortgage obligations - federal agencies - 1,339,251 - 1,339,251 Mortgage-backed securities - 3,931,332 1,397 3,932,729 Equity securities - 2,205 - 2,205 Other - 9,770 - 9,770 Total investment securities available-for-sale $ - $ 7,627,259 $ 1,397 $ 7,628,656 Trading account securities, excluding derivatives: Obligations of Puerto Rico, States and political subdivisions $ - $ 4,523 $ - $ 4,523 Collateralized mortgage obligations - - 1,371 1,371 Mortgage-backed securities - federal agencies - 47,154 5,250 52,404 Other - 13,663 623 14,286 Total trading account securities $ - $ 65,340 $ 7,244 $ 72,584 Mortgage servicing rights $ - $ - $ 200,354 $ 200,354 Derivatives - 13,427 - 13,427 Total assets measured at fair value on a recurring basis $ - $ 7,706,026 $ 208,995 $ 7,915,021 Liabilities Derivatives $ - $ (11,214) $ - $ (11,214) Contingent consideration - - (135,122) (135,122) Total liabilities measured at fair value on a recurring basis $ - $ (11,214) $ (135,122) $ (146,336) 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] | Nine months ended September 30, 2016 (In thousands) Level 1 Level 2 Level 3 Total NONRECURRING FAIR VALUE MEASUREMENTS Assets Write-downs Loans [1] $ - $ - $ 61,309 $ 61,309 $ (31,097) Other real estate owned [2] - - 39,996 39,996 (8,482) Other foreclosed assets [2] - - 46 46 (2) Total assets measured at fair value on a nonrecurring basis $ - $ - $ 101,351 $ 101,351 $ (39,581) Nine months ended September 30, 2015 (In thousands) Level 1 Level 2 Level 3 Total NONRECURRING FAIR VALUE MEASUREMENTS Assets Write-downs Loans [1] $ - $ - $ 114,204 $ 114,204 $ (87,260) Loans held-for-sale [2] - - 47,458 47,458 (18) Other real estate owned [3] - 137 55,616 55,753 (40,059) Other foreclosed assets [3] - - 91 91 (836) Total assets measured at fair value on a nonrecurring basis $ - $ 137 $ 217,369 $ 217,506 $ (128,173) |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Quarter ended September 30, 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 June 30, 2016 $ 1,398 $ 1,399 $ 5,364 $ 640 $ 203,577 $ 212,378 $ (128,511) $ (128,511) Gains (losses) included in earnings - 10 (32) (17) (6,062) (6,101) (6,611) (6,611) Gains (losses) included in OCI (1) - - - - (1) - - Additions - 5 128 - 2,854 2,987 - - Sales - - (110) - - (110) - - Settlements - (43) (100) - (15) (158) - - Balance at September 30, 2016 $ 1,397 $ 1,371 $ 5,250 $ 623 $ 200,354 $ 208,995 $ (135,122) $ (135,122) Changes in unrealized gains (losses) included in earnings relating to assets still held at September 30, 2016 $ - $ 10 $ (29) $ 8 $ (1,082) $ (1,093) $ (6,611) $ (6,611) Nine months ended September 30, 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) (3) 85 (64) (18,879) (18,863) (14,742) (14,742) Gains (losses) included in OCI 15 - - - - 15 - - Additions - 214 1,076 - 7,843 9,133 - - Sales - (308) (1,826) - - (2,134) - - Settlements (50) (363) (539) - (15) (967) - - Balance at September 30, 2016 $ 1,397 $ 1,371 $ 5,250 $ 623 $ 200,354 $ 208,995 $ (135,122) $ (135,122) Changes in unrealized gains (losses) included in earnings relating to assets still held at September 30, 2016 $ - $ 4 $ 74 $ 29 $ (4,315) $ (4,208) $ (14,742) $ (14,742) Quarter ended September 30, 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 June 30, 2015 $ 1,445 $ 1,192 $ 6,046 $ 1,619 $ 206,357 $ 216,659 $ (124,837) $ (124,837) Gains (losses) included in earnings (1) 3 (12) 42 (4,408) (4,376) (1,058) (1,058) Gains (losses) included in OCI 5 - - - - 5 - - Additions - 294 134 - 8,902 9,330 - - Settlements - (49) (197) - - (246) - - Balance at September 30, 2015 $ 1,449 $ 1,440 $ 5,971 $ 1,661 $ 210,851 $ 221,372 $ (125,895) $ (125,895) Changes in unrealized gains (losses) included in earnings relating to assets still held at September 30, 2015 $ - $ 4 $ (4) $ 58 $ (112) $ (54) $ (1,058) $ (1,058) Nine months ended September 30, 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 (1) (1) 2 98 (11,254) (11,156) 6,777 6,777 Gains (losses) included in OCI 7 - - - - 7 - - Additions 118 332 392 - 73,411 74,253 - - Sales - (44) (80) - - (124) - - Settlements - (222) (572) - - (794) - - Adjustments - - - - - - 962 962 Balance at September 30, 2015 $ 1,449 $ 1,440 $ 5,971 $ 1,661 $ 210,851 $ 221,372 $ (125,895) $ (125,895) Changes in unrealized gains (losses) included in earnings relating to assets still held at September 30, 2015 $ - $ 2 $ 20 $ 200 $ 1,774 $ 1,996 $ 6,777 $ 6,777 |
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Table Text Block] | Quarter ended September 30, 2016 Nine months ended September 30, 2016 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) $ - FDIC loss share (expense) income (6,611) (6,611) (14,742) (14,742) Mortgage banking activities (6,062) (1,082) (18,879) (4,315) Trading account (loss) profit (39) (11) 18 107 Total $ (12,712) $ (7,704) $ (33,605) $ (18,950) Quarter ended September 30, 2015 Nine months ended September 30, 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 $ (1) $ - $ (1) $ - FDIC loss share (expense) income (1,058) (1,058) 6,777 6,777 Mortgage banking activities (4,408) (112) (11,254) 1,774 Trading account (loss) profit 33 58 99 222 Total $ (5,434) $ (1,112) $ (4,379) $ 8,773 |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block] | Fair value at September 30, (In thousands) 2016 Valuation technique Unobservable inputs Weighted average (range) CMO's - trading $ 1,371 Discounted cash flow model Weighted average life 3.0 years (0.3 - 4.4 years) Yield 3.4% (0.7% - 4.2%) Prepayment speed 20.6% (18.0% - 26.9%) Other - trading $ 623 Discounted cash flow model Weighted average life 5.4 years Yield 12.3 % Prepayment speed 10.8 % Mortgage servicing rights $ 200,354 Discounted cash flow model Prepayment speed 5.7% (0.2% - 13.8%) Weighted average life 6.9 years (0.1 - 15.7years) Discount rate 11.2% (9.5% - 15.0%) Contingent consideration $ (134,487) Discounted cash flow model Credit loss rate on covered loans 3.6% (0.0% - 100.0%) Risk premium component of discount rate 4.7 % Loans held-in-portfolio $ 61,257 [1] External appraisal Haircut applied on external appraisals 40.0% (39.5% - 40.0%) Other real estate owned $ 39,424 [2] External appraisal Haircut applied on external appraisals 18.6% (10.0% - 40.0%) |
Fair value of financial instr66
Fair value of financial instruments (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Fair Value Disclosures | |
Fair Value By Balance Sheet Grouping Text Block | September 30, 2016 Carrying (In thousands) amount Level 1 Level 2 Level 3 Fair value Financial Assets: Cash and due from banks $ 350,545 $ 350,545 $ - $ - $ 350,545 Money market investments 3,963,495 3,929,352 34,143 - 3,963,495 Trading account securities, excluding derivatives [1] 72,584 - 65,340 7,244 72,584 Investment securities available-for-sale [1] 7,628,656 - 7,627,259 1,397 7,628,656 Investment securities held-to-maturity: Obligations of Puerto Rico, States and political subdivisions $ 95,895 $ - $ - $ 77,366 $ 77,366 Collateralized mortgage obligation-federal agency 78 - - 83 83 Other 2,000 - 1,746 215 1,961 Total investment securities held-to-maturity $ 97,973 $ - $ 1,746 $ 77,664 $ 79,410 Other investment securities: FHLB stock $ 59,111 $ - $ 59,111 $ - $ 59,111 FRB stock 94,559 - 94,559 - 94,559 Trust preferred securities 13,198 - 13,198 - 13,198 Other investments 1,923 - - 5,209 5,209 Total other investment securities $ 168,791 $ - $ 166,868 $ 5,209 $ 172,077 Loans held-for-sale $ 72,076 $ - $ 530 $ 73,726 $ 74,256 Loans not covered under loss sharing agreement with the FDIC 22,070,379 - - 20,416,444 20,416,444 Loans covered under loss sharing agreements with the FDIC 557,949 - - 553,431 553,431 FDIC loss share asset 152,467 - - 144,674 144,674 Mortgage servicing rights 200,354 - - 200,354 200,354 Derivatives 13,427 - 13,427 - 13,427 September 30, 2016 Carrying (In thousands) amount Level 1 Level 2 Level 3 Fair value Financial Liabilities: Deposits: Demand deposits $ 22,425,039 $ - $ 22,425,039 $ - $ 22,425,039 Time deposits 7,902,006 - 7,891,718 - 7,891,718 Total deposits $ 30,327,045 $ - $ 30,316,757 $ - $ 30,316,757 Federal funds purchased and assets sold under agreements to repurchase $ 765,251 $ - $ 764,738 $ - $ 764,738 Other short-term borrowings [2] $ 1,200 $ - $ 1,200 $ - $ 1,200 Notes payable: FHLB advances $ 696,628 $ - $ 707,420 $ - $ 707,420 Unsecured senior debt securities 444,268 - 464,589 - 464,589 Junior subordinated deferrable interest debentures (related to trust preferred securities) 439,316 - 401,796 - 401,796 Others 18,321 - - 18,321 18,321 Total notes payable $ 1,598,533 $ - $ 1,573,805 $ 18,321 $ 1,592,126 Derivatives $ 11,214 $ - $ 11,214 $ - $ 11,214 Contingent consideration $ 135,122 $ - $ - $ 135,122 $ 135,122 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 |
Net income per common share (Ta
Net income per common share (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Earnings Per Share | |
Schedule Of Earnings Per Share Basic And Diluted Table Text Block | Quarters ended September 30, Nine months ended September 30, (In thousands, except per share information) 2016 2015 2016 2015 Net income from continuing operations $ 46,810 $ 85,649 $ 220,796 $ 756,571 Net income from discontinued operations - (9) - 1,347 Preferred stock dividends (930) (931) (2,792) (2,792) Net income applicable to common stock $ 45,880 $ 84,709 $ 218,004 $ 755,126 Average common shares outstanding 103,296,443 102,969,214 103,243,851 102,923,018 Average potential dilutive common shares 168,942 181,268 140,098 214,744 Average common shares outstanding - assuming dilution 103,465,385 103,150,482 103,383,949 103,137,762 Basic EPS from continuing operations $ 0.44 $ 0.82 $ 2.11 $ 7.33 Basic EPS from discontinued operations $ ― $ ― $ ― $ 0.01 Total Basic EPS $ 0.44 $ 0.82 $ 2.11 $ 7.34 Diluted EPS from continuing operations $ 0.44 $ 0.82 $ 2.11 $ 7.31 Diluted EPS from discontinued operations $ ― $ ― $ ― $ 0.01 Total Diluted EPS $ 0.44 $ 0.82 $ 2.11 $ 7.32 |
Other service fees (Tables)
Other service fees (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Table Text Block | |
Schedule Of Other Service Fees Table [Text Block] | Quarters ended September 30, Nine months ended September 30, (In thousands) 2016 2015 2016 2015 Debit card fees $ 11,483 $ 11,288 $ 34,153 $ 34,408 Insurance fees 15,943 14,517 42,678 40,163 Credit card fees 17,644 16,879 52,202 50,639 Sale and administration of investment products 5,542 5,737 15,798 18,269 Trust fees 4,968 4,403 14,029 13,919 Other fees 3,589 3,291 10,636 11,764 Total other services fees $ 59,169 $ 56,115 $ 169,496 $ 169,162 |
FDIC loss share (expense) inc69
FDIC loss share (expense) income (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Table Text Block | |
F D I C Loss Share Expense Income Table [Text Block] | Quarters ended September 30, Nine months ended September 30, (In thousands) 2016 2015 2016 2015 Amortization of loss-share indemnification asset $ (1,259) $ (3,931) $ (9,337) $ (62,312) 80% mirror accounting on credit impairment losses (reversal) [1] 659 (183) (959) 15,710 80% mirror accounting on reimbursable expenses 853 6,276 7,038 70,551 80% mirror accounting on recoveries on covered assets, including rental income on OREOs, subject to reimbursement to the FDIC (522) - (5,123) (7,822) Change in true-up payment obligation (6,611) (1,058) (14,742) 6,778 Arbitration award expense [2] (54,924) - (54,924) - Other 81 103 602 1,516 Total FDIC loss-share (expense) income $ (61,723) $ 1,207 $ (77,445) $ 24,421 [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. [2] Refer to Note 23, Commitments and Contingencies, for additional information on the FDIC arbitration award. |
Pension and postretirement be70
Pension and postretirement benefits (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Pension Plans, Defined Benefit [Member] | |
Schedule Of Net Benefit Costs Table Text Block | Pension Plan Benefit Restoration Plans Quarters ended September 30, Quarters ended September 30, (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 4,881 4,465 332 311 Total net periodic pension cost (benefit) $ 1,549 $ 812 $ 142 $ 129 Pension Plans Benefit Restoration Plans Nine months ended September 30, Nine months ended September 30, (In thousands) 2016 2015 2016 2015 Interest Cost $ 18,873 $ 22,209 $ 1,044 $ 1,222 Expected return on plan assets (28,869) (33,168) (1,614) (1,768) Amortization of net loss 14,640 13,395 996 933 Total net periodic pension cost (benefit) $ 4,644 $ 2,436 $ 426 $ 387 |
Other Postretirement Benefit Plans Defined Benefit [Member] | |
Schedule Of Net Benefit Costs Table Text Block | Postretirement Benefit Plan Quarters ended September 30, Nine months ended September 30, (In thousands) 2016 2015 2016 2015 Service cost $ 289 $ 367 $ 867 $ 1,103 Interest cost 1,505 1,589 4,515 4,767 Amortization of prior service cost (950) (950) (2,850) (2,850) Amortization of net loss 275 249 825 747 Total net periodic postretirement benefit cost $ 1,119 $ 1,255 $ 3,357 $ 3,767 |
Stock-based compensation (Table
Stock-based compensation (Tables) | 9 Months Ended |
Sep. 30, 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 344,488 25.86 Quantity adjusted by TSR factor 51,340 26.13 Vested (429,984) 27.39 Forfeited (1,991) 31.50 Non-vested at September 30, 2016 459,584 $ 27.01 |
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 40,517 29.77 Vested (40,517) 29.77 Forfeited - - Non-vested at September 30, 2016 - $ - |
Income taxes (Tables)
Income taxes (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Schedule Of Deferred Tax Assets And Liabilities Table Text Block | (In thousands) September 30, 2016 December 31, 2015 Deferred tax assets: Tax credits available for carryforward $ 18,569 $ 13,651 Net operating loss and other carryforward available 1,244,901 1,262,197 Postretirement and pension benefits 88,679 116,036 Deferred loan origination fees 5,657 6,420 Allowance for loan losses 659,312 670,592 Deferred gains 5,131 5,966 Accelerated depreciation 9,345 8,335 Intercompany deferred gains 2,229 2,743 Difference in outside basis from pass-through entities 13,186 12,684 Other temporary differences 32,482 29,208 Total gross deferred tax assets 2,079,491 2,127,832 Deferred tax liabilities: FDIC-assisted transaction 80,947 90,778 Indefinite-lived intangibles 71,375 63,573 Unrealized net gain on trading and available-for-sale securities 42,268 22,281 Other temporary differences 8,343 6,670 Total gross deferred tax liabilities 202,933 183,302 Valuation allowance 646,606 642,727 Net deferred tax asset $ 1,229,952 $ 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 0.2 0.3 Additions for tax positions taken in prior years - January through March 0.2 - Reduction as a result of settlements - January through March - (0.5) Balance at March 31 $ 9.4 $ 7.8 Additions for tax positions - April through June 0.3 0.3 Balance at June 30 $ 9.7 $ 8.1 Additions for tax positions - July through September 0.3 0.6 Additions for tax positions taken in prior years - July through September 0.1 - Reduction as a result of lapse of statute of limitations - July through September (3.0) - Balance at September 30 $ 7.1 $ 8.7 |
PUERTO RICO | |
Schedule Of Effective Income Tax Rate Reconciliation Table Text Block | Quarters ended September 30, 2016 September 30, 2015 (In thousands) Amount % of pre-tax income Amount % of pre-tax income Computed income tax expense at statutory rates $ 24,434 39 % $ 42,225 39 % Net benefit of tax exempt interest income (15,620) (25) (14,615) (13) Deferred tax asset valuation allowance 5,698 9 (670) (1) Difference in tax rates due to multiple jurisdictions (897) (1) (1,129) (1) Effect of income subject to preferential tax rate 6,364 10 (3,610) (3) Unrecognized tax benefits (4,442) (7) - - State and local taxes 1,557 2 586 - Others (1,255) (2) (167) - Income tax expense (benefit) $ 15,839 25 % $ 22,620 21 % Nine months ended September 30, 2016 September 30, 2015 (In thousands) Amount % of pre-tax income Amount % of pre-tax income Computed income tax expense at statutory rates $ 117,525 39 % $ 108,508 39 % Net benefit of tax exempt interest income (47,094) (16) (45,784) (16) Deferred tax asset valuation allowance 14,407 5 (537,737) (193) Difference in tax rates due to multiple jurisdictions (2,874) (1) (1,946) (1) Effect of income subject to preferential tax rate (1,772) (1) (5,488) (2) Unrecognized tax benefits (4,442) (1) - - State and local taxes 6,642 2 3,305 1 Others (1,842) (1) 798 - Income tax expense (benefit) $ 80,550 26 % $ (478,344) (172) % |
Supplemental disclosure on th73
Supplemental disclosure on the consolidated statements of cash flows (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Supplemental Cash Flow Information | |
Schedule Of Cash Flow Supplemental Disclosures Table Text Block | (In thousands) September 30, 2016 September 30, 2015 Non-cash activities: Loans transferred to other real estate $ 93,412 $ 104,778 Loans transferred to other property 22,408 29,034 Total loans transferred to foreclosed assets 115,820 133,812 Financed sales of other real estate assets 11,861 19,469 Financed sales of other foreclosed assets 13,426 19,516 Total financed sales of foreclosed assets 25,287 38,985 Transfers from loans held-in-portfolio to loans held-for-sale - 72,501 Transfers from loans held-for-sale to loans held-in-portfolio 5,947 9,113 Transfers from trading securities to available-for-sale securities - 5,523 Loans securitized into investment securities [1] 594,094 825,126 Trades receivable from brokers and counterparties 80,125 125,625 Trades payable to brokers and counterparties 22,174 24,812 Recognition of mortgage servicing rights on securitizations or asset transfers 7,886 10,798 [1] Includes loans securitized into trading securities and subsequently sold before quarter end. |
Segment reporting (Tables)
Segment reporting (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Table Text Block | |
Schedule Of Segment Reporting Information By Segment Text Block | 2016 For the quarter ended September 30, 2016 Banco Popular Banco Popular Intersegment (In thousands) de Puerto Rico North America Eliminations Net interest income $ 303,656 $ 65,339 $ (281) Provision for loan losses 37,064 6,313 - Non-interest income 60,453 5,381 28 Amortization of intangibles 2,931 166 - Goodwill impairment charge 3,801 - - Depreciation expense 9,774 1,666 - Other operating expenses 246,451 47,374 (639) Income tax expense 14,479 6,037 162 Net income $ 49,609 $ 9,164 $ 224 Segment assets $ 30,403,259 $ 8,450,901 $ (16,818) For the quarter ended September 30, 2016 Reportable (In thousands) Segments Corporate Eliminations Total Popular, Inc. Net interest income (expense) $ 368,714 $ (15,140) $ 113 $ 353,687 Provision for loan losses 43,377 (33) - 43,344 Non-interest income 65,862 10,468 (352) 75,978 Amortization of intangibles 3,097 - - 3,097 Goodwill impairment charge 3,801 - - 3,801 Depreciation expense 11,440 144 - 11,584 Other operating expenses 293,186 12,164 (160) 305,190 Income tax expense (benefit) 20,678 (4,807) (32) 15,839 Net income (loss) $ 58,997 $ (12,140) $ (47) $ 46,810 Segment assets $ 38,837,342 $ 4,949,819 $ (4,732,865) $ 39,054,296 For the nine months ended September 30, 2016 Banco Popular Banco Popular Intersegment (In thousands) de Puerto Rico North America Eliminations Net interest income $ 919,366 $ 193,102 $ (281) Provision for loan losses 116,987 11,699 - Non-interest income 257,260 15,581 28 Amortization of intangibles 8,809 499 - Goodwill impairment charge 3,801 - - Depreciation expense 29,885 4,343 - Other operating expenses 705,825 133,101 (639) Income tax expense 77,651 25,597 162 Net income $ 233,668 $ 33,444 $ 224 Segment assets $ 30,403,259 $ 8,450,901 $ (16,818) For the nine months ended September 30, 2016 Reportable (In thousands) Segments Corporate Eliminations Total Popular, Inc. Net interest income (expense) $ 1,112,187 $ (45,537) $ - $ 1,066,650 Provision (reversal fof provision) for loan losses 128,686 (35) - 128,651 Non-interest income 272,869 26,707 (1,465) 298,111 Amortization of intangibles 9,308 - - 9,308 Goodwill impairment charge 3,801 - - 3,801 Depreciation expense 34,228 497 - 34,725 Other operating expenses 838,287 50,613 (1,970) 886,930 Income tax expense (benefit) 103,410 (23,068) 208 80,550 Net income (loss) $ 267,336 $ (46,837) $ 297 $ 220,796 Segment assets $ 38,837,342 4,949,819 (4,732,865) 39,054,296 2015 For the quarter ended September 30, 2015 Banco Popular Banco Popular Intersegment (In thousands) de Puerto Rico North America Eliminations Net interest income $ 303,834 $ 62,415 $ - Provision for loan losses 66,011 813 - Non-interest income 116,765 5,426 - Amortization of intangibles 3,194 318 - Depreciation expense 9,964 1,368 - Other operating expenses 232,211 42,503 - Income tax expense 27,778 1,374 - Net income $ 81,441 $ 21,465 $ - Segment assets $ 27,968,091 $ 7,477,202 $ (133,472) For the quarter ended September 30, 2015 Reportable (In thousands) Segments Corporate Eliminations Total Popular, Inc. Net interest income (expense) $ 366,249 $ (15,514) $ - $ 350,735 Provision (reversal of provision) for loan losses 66,824 (146) - 66,678 Non-interest income 122,191 8,974 (56) 131,109 Amortization of intangibles 3,512 - - 3,512 Depreciation expense 11,332 178 - 11,510 Other operating expenses 274,714 17,841 (680) 291,875 Income tax expense (benefit) 29,152 (6,775) 243 22,620 Net income (loss) $ 102,906 $ (17,638) $ 381 $ 85,649 Segment assets $ 35,311,821 $ 4,916,194 $ (4,697,221) $ 35,530,794 For the nine months ended September 30, 2015 Banco Popular Banco Popular Intersegment (In thousands) de Puerto Rico North America Eliminations Net interest income $ 926,531 $ 176,447 $ - Provision (reversal of provision) for loan losses 184,317 (1,450) - Non-interest income 346,030 17,262 125 Amortization of intangibles 7,756 741 - Depreciation expense 30,175 4,731 - Other operating expenses 739,672 145,460 - Income tax expense (benefit) 82,539 (541,522) - Net income $ 228,102 $ 585,749 $ 125 Segment assets 27,968,091 7,477,202 (133,472) For the nine months ended September 30, 2015 Reportable (In thousands) Segments Corporate Eliminations Total Popular, Inc. Net interest income (expense) $ 1,102,978 $ (46,495) $ - $ 1,056,483 Provision for loan losses 182,867 80 - 182,947 Non-interest income 363,417 25,099 (1,413) 387,103 Amortization of intangibles 8,497 - - 8,497 Depreciation expense 34,906 553 - 35,459 Other operating expenses 885,132 55,434 (2,110) 938,456 Income tax benefit (458,983) (19,633) 272 (478,344) Net income (loss) $ 813,976 $ (57,830) $ 425 $ 756,571 Segment assets 35,311,821 4,916,194 (4,697,221) 35,530,794 2016 For the quarter ended September 30, 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 $ 116,362 $ 186,445 $ 1,379 $ (530) $ 303,656 Provision for loan losses 13,213 23,851 - - 37,064 Non-interest income (24,191) 59,284 25,444 (84) 60,453 Amortization of intangibles 22 1,838 1,071 - 2,931 Goodwill impairment charge - - 3,801 - 3,801 Depreciation expense 4,188 5,380 206 - 9,774 Other operating expenses 60,630 165,124 20,781 (84) 246,451 Income tax expense 7,542 6,894 43 - 14,479 Net income $ 6,576 $ 42,642 $ 921 $ (530) $ 49,609 Segment assets $ 16,032,323 $ 17,753,118 $ 371,027 $ (3,753,209) $ 30,403,259 For the nine months ended September 30, 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 $ 355,061 $ 557,489 $ 4,674 $ 2,142 $ 919,366 Provision for loan losses 26,969 90,018 - - 116,987 Non-interest income 16,776 168,860 71,883 (259) 257,260 Amortization of intangibles 92 5,484 3,233 - 8,809 Goodwill impairment charge - - 3,801 - 3,801 Depreciation expense 12,735 16,491 659 - 29,885 Other operating expenses 183,706 467,448 54,930 (259) 705,825 Income tax expense 48,939 24,410 4,302 - 77,651 Net income $ 99,396 $ 122,498 $ 9,632 $ 2,142 $ 233,668 Segment assets $ 16,032,323 $ 17,753,118 $ 371,027 $ (3,753,209) $ 30,403,259 2015 For the quarter ended September 30, 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 $ 111,605 $ 185,220 $ 2,186 $ 4,823 $ 303,834 Provision for loan losses 21,285 44,726 - - 66,011 Non-interest income 30,997 62,367 23,501 (100) 116,765 Amortization of intangibles 7 2,056 1,131 - 3,194 Depreciation expense 3,682 6,005 277 - 9,964 Other operating expenses 55,591 158,842 17,878 (100) 232,211 Income tax expense 19,845 6,813 1,120 - 27,778 Net income $ 42,192 $ 29,145 $ 5,281 $ 4,823 $ 81,441 Segment assets $ 11,523,460 $ 16,299,451 $ 503,062 $ (357,882) $ 27,968,091 For the nine months ended September 30, 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 $ 346,189 $ 569,306 $ 6,209 $ 4,827 $ 926,531 Provision for loan losses 86,422 97,895 - - 184,317 Non-interest income 95,584 183,362 67,379 (295) 346,030 Amortization of intangibles 13 5,740 2,003 - 7,756 Depreciation expense 12,727 16,599 849 - 30,175 Other operating expenses 224,719 463,224 52,024 (295) 739,672 Income tax expense 32,503 44,121 5,915 - 82,539 Net income $ 85,389 $ 125,089 $ 12,797 $ 4,827 $ 228,102 Segment assets $ 11,523,460 $ 16,299,451 $ 503,062 $ (357,882) $ 27,968,091 |
Schedule Of Revenues And Selected Balance Sheet Information By Geographic Area Table [TextBlock] | Geographic Information Quarter ended Nine months ended (in thousands) September 30, 2016 September 30, 2015 September 30, 2016 September 30, 2015 Revenues: Puerto Rico $ 333,006 $ 395,086 $ 1,097,944 $ 1,196,112 United States 77,816 67,418 209,999 191,363 Other 18,843 19,340 56,818 56,111 Total consolidated revenues $ 429,665 $ 481,844 $ 1,364,761 $ 1,443,586 Selected Balance Sheet Information: (In thousands) September 30, 2016 December 31, 2015 Puerto Rico Total assets $ 29,405,343 $ 26,764,184 Loans 16,990,595 17,477,070 Deposits 23,410,341 20,893,232 United States Total assets $ 8,738,087 $ 7,859,217 Loans 5,515,849 4,873,504 Deposits 5,857,025 5,288,886 Other Total assets $ 910,866 $ 1,138,332 Loans 749,815 778,656 Deposits [1] 1,059,679 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) | 9 Months Ended |
Sep. 30, 2016 | |
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Schedule of Condensed Balance Sheet [Table Text Block] | Condensed Consolidating Statement of Financial Condition (Unaudited) At September 30, 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 $ 7,979 $ 593 $ 350,244 $ (8,271) $ 350,545 Money market investments 284,315 13,096 3,964,980 (298,896) 3,963,495 Trading account securities, at fair value 2,495 - 70,210 (121) 72,584 Investment securities available-for-sale, at fair value - - 7,628,656 - 7,628,656 Investment securities held-to-maturity, at amortized cost - - 97,973 - 97,973 Other investment securities, at lower of cost or realizable value 9,850 4,492 154,449 - 168,791 Investment in subsidiaries 5,791,238 1,843,518 - (7,634,756) - Loans held-for-sale, at lower of cost or fair value - - 72,076 - 72,076 Loans held-in-portfolio: Loans not covered under loss-sharing agreements with the FDIC 1,152 - 22,713,206 - 22,714,358 Loans covered under loss-sharing agreements with the FDIC - - 588,211 - 588,211 Less - Unearned income - - 118,386 - 118,386 Allowance for loan losses 1 - 555,854 - 555,855 Total loans held-in-portfolio, net 1,151 - 22,627,177 - 22,628,328 FDIC loss-share asset - - 152,467 - 152,467 Premises and equipment, net 3,065 - 534,910 - 537,975 Other real estate not covered under loss- sharing agreements with the FDIC 81 - 184,747 - 184,828 Other real estate covered under loss- sharing agreements with the FDIC - - 37,414 - 37,414 Accrued income receivable 91 35 119,611 (46) 119,691 Mortgage servicing assets, at fair value - - 200,354 - 200,354 Other assets 60,326 24,368 2,093,102 (13,857) 2,163,939 Goodwill - - 627,294 - 627,294 Other intangible assets 553 - 47,333 - 47,886 Total assets $ 6,161,144 $ 1,886,102 $ 38,962,997 $ (7,955,947) $ 39,054,296 Liabilities and Stockholders' Equity Liabilities: Deposits: Non-interest bearing $ - $ - $ 6,958,558 $ (8,271) $ 6,950,287 Interest bearing - - 23,675,654 (298,896) 23,376,758 Total deposits - - 30,634,212 (307,167) 30,327,045 Federal funds purchased and assets sold under agreements to repurchase - - 765,251 - 765,251 Other short-term borrowings - - 1,200 - 1,200 Notes payable 735,079 148,505 714,949 - 1,598,533 Other liabilities 45,577 3,431 945,500 (14,451) 980,057 Liabilities from discontinued operations - - 1,815 - 1,815 Total liabilities 780,656 151,936 33,062,927 (321,618) 33,673,901 Stockholders' equity: Preferred stock 50,160 - - - 50,160 Common stock 1,040 2 56,307 (56,309) 1,040 Surplus 4,226,315 4,111,207 5,698,605 (9,801,285) 4,234,842 Retained earnings (accumulated deficit) 1,267,822 (2,392,906) 300,102 2,084,277 1,259,295 Treasury stock, at cost (7,554) - - (93) (7,647) Accumulated other comprehensive loss, net of tax (157,295) 15,863 (154,944) 139,081 (157,295) Total stockholders' equity 5,380,488 1,734,166 5,900,070 (7,634,329) 5,380,395 Total liabilities and stockholders' equity $ 6,161,144 $ 1,886,102 $ 38,962,997 $ (7,955,947) $ 39,054,296 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 September 30, 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 $ 24,200 $ - $ - $ (24,200) $ - Loans 21 - 363,529 - 363,550 Money market investments 398 27 4,568 (425) 4,568 Investment securities 141 81 37,510 - 37,732 Trading account securities - - 1,449 - 1,449 Total interest and dividend income 24,760 108 407,056 (24,625) 407,299 Interest expense: Deposits - - 32,787 (425) 32,362 Short-term borrowings - - 2,132 - 2,132 Long-term debt 13,118 2,692 3,308 - 19,118 Total interest expense 13,118 2,692 38,227 (425) 53,612 Net interest income (expense) 11,642 (2,584) 368,829 (24,200) 353,687 Provision (reversal) for loan losses- non-covered loans (33) - 42,627 - 42,594 Provision for loan losses- covered loans - - 750 - 750 Net interest income (expense) after provision for loan losses 11,675 (2,584) 325,452 (24,200) 310,343 Service charges on deposit accounts - - 40,776 - 40,776 Other service fees - - 59,233 (64) 59,169 Mortgage banking activities - - 15,272 - 15,272 Net gain on sale of investment securities 184 - 165 - 349 Trading account profit (loss) 77 - (163) (27) (113) Net gain on sale of loans, including valuation adjustments on loans held-for-sale - - 8,549 - 8,549 Adjustments (expense) to indemnity reserves on loans sold - - (4,390) - (4,390) FDIC loss-share expense - - (61,723) - (61,723) Other operating income 4,002 152 13,955 (20) 18,089 Total non-interest income 4,263 152 71,674 (111) 75,978 Operating expenses: Personnel costs 11,137 - 110,087 - 121,224 Net occupancy expenses 939 - 20,687 - 21,626 Equipment expenses 776 1 15,145 - 15,922 Other taxes 46 - 11,278 - 11,324 Professional fees 2,642 31 78,658 (65) 81,266 Communications 140 - 5,645 - 5,785 Business promotion 516 - 12,210 - 12,726 FDIC deposit insurance - - 5,854 - 5,854 Other real estate owned (OREO) expenses (16) - 11,311 - 11,295 Other operating expenses (19,795) 3 50,077 (533) 29,752 Amortization of intangibles - - 3,097 - 3,097 Goodwill impairment charge - - 3,801 - 3,801 Total operating expenses (3,615) 35 327,850 (598) 323,672 Income (loss) before income tax and equity in earnings of subsidiaries 19,553 (2,467) 69,276 (23,713) 62,649 Income tax (benefit) expense (2) (864) 16,504 201 15,839 Income (loss) before equity in earnings of subsidiaries 19,555 (1,603) 52,772 (23,914) 46,810 Equity in undistributed earnings of subsidiaries 27,255 9,190 - (36,445) - Net Income $ 46,810 $ 7,587 $ 52,772 $ (60,359) $ 46,810 Comprehensive income, net of tax $ 35,127 $ 3,426 $ 41,429 $ (44,855) $ 35,127 Condensed Consolidating Statement of Operations (Unaudited) Nine months ended September 30, 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 $ 78,100 $ - $ - $ (78,100) $ - Loans 60 - 1,096,408 - 1,096,468 Money market investments 976 78 11,320 (1,054) 11,320 Investment securities 522 242 109,964 - 110,728 Trading account securities - - 5,013 - 5,013 Total interest and dividend income 79,658 320 1,222,705 (79,154) 1,223,529 Interest expense: Deposits - - 93,889 (1,054) 92,835 Short-term borrowings - - 6,051 - 6,051 Long-term debt 39,353 8,077 10,563 - 57,993 Total interest expense 39,353 8,077 110,503 (1,054) 156,879 Net interest income (expense) 40,305 (7,757) 1,112,202 (78,100) 1,066,650 Provision (reversal) for loan losses- non-covered loans (36) - 130,238 - 130,202 Provision (reversal) for loan losses- covered loans - - (1,551) - (1,551) Net interest income (expense) after provision for loan losses 40,341 (7,757) 983,515 (78,100) 937,999 Service charges on deposit accounts - - 120,934 - 120,934 Other service fees - - 170,896 (1,400) 169,496 Mortgage banking activities - - 42,050 - 42,050 Net gain on sale of investment securities 1,767 - 165 - 1,932 Other-than-temporary impairment losses on investment securities - - (209) - (209) Trading account profit 136 - 733 (27) 842 Net loss on sale of loans, including valuation adjustments on loans held-for-sale - - 8,245 - 8,245 Adjustments (expense) to indemnity reserves on loans sold - - (14,234) - (14,234) FDIC loss-share expense - - (77,445) - (77,445) Other operating income 9,070 (2,787) 40,255 (38) 46,500 Total non-interest income 10,973 (2,787) 291,390 (1,465) 298,111 Operating expenses: Personnel costs 37,192 - 327,831 - 365,023 Net occupancy expenses 2,700 - 61,070 - 63,770 Equipment expenses 1,864 1 43,866 - 45,731 Other taxes 140 - 31,549 - 31,689 Professional fees 7,854 91 229,754 (349) 237,350 Communications 417 - 17,700 - 18,117 Business promotion 1,467 - 36,074 - 37,541 FDIC deposit insurance - - 18,586 - 18,586 Other real estate owned (OREO) expenses 52 - 33,364 - 33,416 Other operating expenses (56,173) 46 128,181 (1,622) 70,432 Amortization of intangibles - - 9,308 - 9,308 Goodwill impairment charge - - 3,801 - 3,801 Total operating expenses (4,487) 138 941,084 (1,971) 934,764 Income (loss) before income tax and equity in earnings of subsidiaries 55,801 (10,682) 333,821 (77,594) 301,346 Income tax expense (benefit) 1 (3,739) 84,080 208 80,550 Income (loss) before equity in earnings of subsidiaries 55,800 (6,943) 249,741 (77,802) 220,796 Equity in undistributed earnings of subsidiaries 164,996 30,289 - (195,285) - Net Income $ 220,796 $ 23,346 $ 249,741 $ (273,087) $ 220,796 Comprehensive income, net of tax $ 320,387 $ 47,064 $ 350,689 (397,753) $ 320,387 Condensed Consolidating Statement of Operations (Unaudited) Quarter ended September 30, 2015 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 $ 19,175 $ - $ - $ (19,175) $ - Loans 190 1 364,430 (163) 364,458 Money market investments 1 1 2,003 (2) 2,003 Investment securities 143 81 31,447 - 31,671 Trading account securities - - 3,150 - 3,150 Total interest and dividend income 19,509 83 401,030 (19,340) 401,282 Interest expense: Deposits - - 28,359 (2) 28,357 Short-term borrowings - 149 2,236 (163) 2,222 Long-term debt 13,118 2,695 4,155 - 19,968 Total interest expense 13,118 2,844 34,750 (165) 50,547 Net interest income (expense) 6,391 (2,761) 366,280 (19,175) 350,735 Provision (reversal) for loan losses- non-covered loans (146) - 69,714 - 69,568 Provision (reversal) for loan losses- covered loans - - (2,890) - (2,890) Net interest income (expense) after provision for loan losses 6,537 (2,761) 299,456 (19,175) 284,057 Service charges on deposit accounts - - 40,960 - 40,960 Other service fees - - 56,160 (45) 56,115 Mortgage banking activities - - 24,195 - 24,195 Net gain on sale of investment securities - - 136 - 136 Trading account loss (116) - (282) - (398) Adjustments (expense) to indemnity reserves on loans sold - - (5,874) - (5,874) FDIC loss-share income - - 1,207 - 1,207 Other operating income 2,520 416 11,842 (10) 14,768 Total non-interest income 2,404 416 128,344 (55) 131,109 Operating expenses: Personnel costs 11,287 - 109,576 - 120,863 Net occupancy expenses 894 - 20,383 - 21,277 Equipment expenses 520 - 14,219 - 14,739 Other taxes 46 - 9,905 - 9,951 Professional fees 2,789 33 74,377 (45) 77,154 Communications 137 - 5,921 - 6,058 Business promotion 464 - 11,861 - 12,325 FDIC deposit insurance - - 7,300 - 7,300 Other real estate owned (OREO) expenses - - 7,686 - 7,686 Other operating expenses (19,896) 109 45,972 (634) 25,551 Amortization of intangibles - - 3,512 - 3,512 Restructuring cost - - 481 - 481 Total operating expenses (3,759) 142 311,193 (679) 306,897 Income (loss) before income tax and equity in earnings of subsidiaries 12,700 (2,487) 116,607 (18,551) 108,269 Income tax expense 45 - 22,332 243 22,620 Income (loss) before equity in earnings of subsidiaries 12,655 (2,487) 94,275 (18,794) 85,649 Equity in undistributed earnings of subsidiaries 72,994 18,824 - (91,818) - Income from continuing operations 85,649 16,337 94,275 (110,612) 85,649 Loss from discontinued operations, net of tax - - (9) - (9) Equity in undistributed losses of discontinued operations (9) (9) - 18 - Net Income $ 85,640 $ 16,328 $ 94,266 $ (110,594) $ 85,640 Comprehensive income, net of tax $ 114,865 $ 24,343 $ 123,544 $ (147,887) $ 114,865 Condensed Consolidating Statement of Operations (Unaudited) Nine months ended September 30, 2015 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 $ 22,175 $ - $ - $ (22,175) $ - Loans 499 3 1,094,152 (432) 1,094,222 Money market investments 5 4 5,292 (7) 5,294 Investment securities 476 242 92,551 - 93,269 Trading account securities - - 8,872 - 8,872 Total interest and dividend income 23,155 249 1,200,867 (22,614) 1,201,657 Interest expense: Deposits - - 80,486 (7) 80,479 Short-term borrowings - 378 5,873 (432) 5,819 Long-term debt 39,353 8,084 11,439 - 58,876 Total interest expense 39,353 8,462 97,798 (439) 145,174 Net interest (expense) income (16,198) (8,213) 1,103,069 (22,175) 1,056,483 Provision for loan losses- non-covered loans 81 - 159,666 - 159,747 Provision for loan losses- covered loans - - 23,200 - 23,200 Net interest (expense) income after provision for loan losses (16,279) (8,213) 920,203 (22,175) 873,536 Service charges on deposit accounts - - 120,115 - 120,115 Other service fees - - 170,535 (1,373) 169,162 Mortgage banking activities - - 58,372 - 58,372 Net gain on sale of investment securities - - 141 - 141 Other-than temporary impairment losses on investment securities - - (14,445) - (14,445) Trading account loss (94) - (2,998) - (3,092) Net gain on sale of loans, including valuation adjustments on loans held-for-sale - - 602 - 602 Adjustments (expense) to indemnity reserves on loans sold - - (9,981) - (9,981) FDIC loss-share income - - 24,421 - 24,421 Other operating income 8,911 111 32,826 (40) 41,808 Total non-interest income 8,817 111 379,588 (1,413) 387,103 Operating expenses: Personnel costs 37,665 - 320,633 - 358,298 Net occupancy expenses 2,661 - 63,611 - 66,272 Equipment expenses 1,538 - 42,537 - 44,075 Other taxes (759) - 30,397 - 29,638 Professional fees 7,885 474 222,966 (194) 231,131 Communications 362 - 18,025 - 18,387 Business promotion 1,308 - 35,606 - 36,914 FDIC deposit insurance - - 22,240 - 22,240 Other real estate owned (OREO) expenses - - 75,571 - 75,571 Other operating expenses (52,016) 328 127,585 (1,916) 73,981 Amortization of intangibles - - 8,497 - 8,497 Restructuring costs - - 17,408 - 17,408 Total operating expenses (1,356) 802 985,076 (2,110) 982,412 (Loss) income before income tax and equity in earnings of subsidiaries (6,106) (8,904) 314,715 (21,478) 278,227 Income tax expense (benefit) 45 - (478,661) 272 (478,344) (Loss) income before equity in earnings of subsidiaries (6,151) (8,904) 793,376 (21,750) 756,571 Equity in undistributed earnings of subsidiaries 762,722 579,119 - (1,341,841) - Income from continuing operations 756,571 570,215 793,376 (1,363,591) 756,571 Income from discontinued operations, net of tax - - 1,347 - 1,347 Equity in undistributed earnings of discontinued operations 1,347 1,347 - (2,694) - Net Income $ 757,918 $ 571,562 $ 794,723 $ (1,366,285) $ 757,918 Comprehensive income, net of tax $ 797,984 $ 582,170 $ 834,738 $ (1,416,908) $ 797,984 |
Schedule of Condensed Cash Flow Statement [Table Text Block] | Nine months ended September 30,2016 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 $ 220,796 $ 23,346 $ 249,741 $ (273,087) $ 220,796 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Equity in undistributed earnings of subsidiaries (164,996) (30,289) - 195,285 - Provision (reversal) for loan losses (36) - 128,687 - 128,651 Goodwill impairment losses - - 3,801 - 3,801 Amortization of intangibles - - 9,308 - 9,308 Depreciation and amortization of premises and equipment 497 - 34,228 - 34,725 Net accretion of discounts and amortization of premiums and deferred fees 1,565 21 (38,339) - (36,753) Other-than-temporary impairment on investment securities - - 209 - 209 Fair value adjustments on mortgage servicing rights - - 18,879 - 18,879 FDIC loss-share expense - - 77,445 - 77,445 Adjustments (expense) to indemnity reserves on loans sold - - 14,234 - 14,234 (Earnings) losses from investments under the equity method (9,070) 2,787 (17,529) - (23,812) Deferred income tax expense (benefit) 1 (3,739) 65,448 208 61,918 (Gain) loss on: Disposition of premises and equipment and other productive assets (1) - 3,604 - 3,603 Sale and valuation adjustments of investment securities (1,767) - (165) - (1,932) Sale of loans, including valuation adjustments on loans held for sale and mortgage banking activities - - (32,982) - (32,982) Sale of foreclosed assets, including write-downs 52 - 13,108 - 13,160 Acquisitions of loans held-for-sale - - (223,189) - (223,189) Proceeds from sale of loans held-for-sale - - 58,003 - 58,003 Net originations on loans held-for-sale - - (365,353) - (365,353) Net (increase) decrease in: Trading securities (475) - 578,487 121 578,133 Accrued income receivable (6) 80 4,459 10 4,543 Other assets 2,304 (26) (26,170) (4,309) (28,201) Net decrease in: Interest payable (7,875) (2,685) (983) (10) (11,553) Pension and other postretirement benefits obligations - - (56,537) - (56,537) Other liabilities (5,724) (543) (2,801) 3,776 (5,292) Total adjustments (185,531) (34,394) 245,852 195,081 221,008 Net cash provided by (used in) operating activities 35,265 (11,048) 495,593 (78,006) 441,804 Cash flows from investing activities: Net (increase) decrease in money market investments (22,111) 10,835 (1,785,091) 12,965 (1,783,402) Purchases of investment securities: Available-for-sale - - (2,408,514) - (2,408,514) Other - - (14,017) - (14,017) Proceeds from calls, paydowns, maturities and redemptions of investment securities: Available-for-sale - - 951,447 - 951,447 Held-to-maturity - - 4,182 - 4,182 Other - - 11,051 - 11,051 Proceeds from sale of investment securities: Available for sale 278 - 1,278 - 1,556 Other 1,583 - 6,423 - 8,006 Net repayments (disbursements) on loans 25 - (93,379) - (93,354) Proceeds from sale of loans - - 134,114 - 134,114 Acquisition of loan portfolios - - (355,507) - (355,507) Net payments from FDIC under loss-sharing agreements - - 95,407 - 95,407 Return of capital from equity method investments 118 206 - - 324 Return of capital from wholly-owned subsidiaries 14,000 - - (14,000) - Acquisition of premises and equipment (794) - (77,503) - (78,297) Proceeds from sale of: Premises and equipment and other productive assets 56 - 5,463 - 5,519 Foreclosed assets 434 - 54,166 - 54,600 Net cash (used in) provided by investing activities (6,411) 11,041 (3,470,480) (1,035) (3,466,885) Cash flows from financing activities: Net increase (decrease) in: Deposits - - 3,116,067 3,607 3,119,674 Federal funds purchased and assets sold under agreements to repurchase - - 3,106 - 3,106 Other short-term borrowings - - - - - Payments of notes payable - - (230,608) - (230,608) Proceeds from issuance of notes payable - - 165,047 - 165,047 Proceeds from issuance of common stock 5,718 - - - 5,718 Dividends paid to parent company - - (78,100) 78,100 - Dividends paid (49,438) - - - (49,438) Net payments for repurchase of common stock (1,453) - (1) (93) (1,547) Return of capital to parent company - - (14,000) 14,000 - Net cash (used in) provided by financing activities (45,173) - 2,961,511 95,614 3,011,952 Net decrease in cash and due from banks (16,319) (7) (13,376) 16,573 (13,129) 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 $ 7,979 $ 593 $ 350,244 $ (8,271) $ 350,545 During the nine months ended September 30, 2016 there have not been any cash flows associated with discontinued operations. Nine months ended September 30, 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 $ 757,918 $ 571,562 $ 794,723 $ (1,366,285) $ 757,918 Adjustments to reconcile net income to net cash (used in) provided by operating activities: Equity in undistributed earnings of subsidiaries (764,069) (580,466) - 1,344,535 - Provision for loan losses 81 - 182,866 - 182,947 Amortization of intangibles - - 8,497 - 8,497 Depreciation and amortization of premises and equipment 553 - 34,906 - 35,459 Net accretion of discounts and amortization of premiums and deferred fees - - (58,637) - (58,637) Other-than-temporary impairment on investment securities - - 14,445 - 14,445 Fair value adjustments on mortgage servicing rights - - 5,808 - 5,808 FDIC loss-share income - - (24,421) - (24,421) Adjustments (expense) to indemnity reserves on loans sold - - 9,981 - 9,981 Earnings losses from investments under the equity method (8,911) (111) (8,063) - (17,085) Deferred income tax benefit - - (496,551) 272 (496,279) (Gain) loss on: Disposition of premises and equipment (2) - (2,937) - (2,939) Sale and valuation adjustments of investment securities - - (141) - (141) Sale of loans, including valuation adjustments on loans held for sale and mortgage banking activities - - (24,657) - (24,657) Sale of foreclosed assets, including write-downs - - 56,391 - 56,391 Acquisitions of loans held-for-sale - - (331,860) - (331,860) Proceeds from sale of loans held-for-sale - - 71,296 - 71,296 Net originations on loans held-for-sale - - (574,942) - (574,942) Net (increase) decrease in: Trading securities (188) - 783,492 - 783,304 Accrued income receivable (87) 80 11,503 86 11,582 Other assets (10,258) 3 37,453 33,981 61,179 Net (decrease) increase in: Interest payable (7,875) (2,599) (52) (86) (10,612) Pension and other postretirement benefits obligations - - 2,567 - 2,567 Other liabilities (9,545) (140) (11,865) (17,503) (39,053) Total adjustments (800,301) (583,233) (314,921) 1,361,285 (337,170) Net cash (used in) provided by operating activities (42,383) (11,671) 479,802 (5,000) 420,748 Cash flows from investing activities: Net decrease (increase) in money market investments 18,611 (596) (604,796) 596 (586,185) Purchases of investment securities: Available-for-sale - - (1,239,962) - (1,239,962) Held-to-maturity - - (250) - (250) Other - - (39,391) - (39,391) Proceeds from calls, paydowns, maturities and redemptions of investment securities: Available-for-sale - - 1,152,074 - 1,152,074 Held-to-maturity - - 4,428 - 4,428 Other - - 45,497 - 45,497 Proceeds from sale of investment securities: Available for sale - - 96,760 - 96,760 Other - - 12,928 - 12,928 Net repayments on loans 10,753 350 318,555 (10,739) 318,919 Proceeds from sale of loans - - 27,780 - 27,780 Acquisition of loan portfolios - (350) (173,155) - (173,505) Acquisition of trademark - - (50) - (50) Net payments from FDIC under loss-sharing agreements - - 245,416 - 245,416 Net cash received and acquired from business combination - - 731,279 - 731,279 Acquisition of servicing assets - - (61,304) - (61,304) Cash paid related to business acquisitions - - (17,250) - (17,250) Mortgage servicing rights purchased - - (2,400) - (2,400) Acquisition of premises and equipment (808) - (40,301) - (41,109) Proceeds from sale of: Premises and equipment 6 - 10,160 - 10,166 Foreclosed assets - - 115,078 - 115,078 Net cash provided by (used in) investing activities 28,562 (596) 581,096 (10,143) 598,919 Cash flows from financing activities: Net (decrease) increase in: Deposits - - (302,897) 13,453 (289,444) Federal funds purchased and assets sold under agreements to repurchase - - (185,892) - (185,892) Other short-term borrowings - 12,261 (171,215) 10,739 (148,215) Payments of notes payable - - (719,575) - (719,575) Proceeds from issuance of notes payable - - 263,286 - 263,286 Proceeds from issuance of common stock 4,177 - - - 4,177 Dividends paid to parent company - - (5,000) 5,000 - Dividends paid (2,792) - - - (2,792) Net payments for repurchase of common stock (1,752) - - - (1,752) Net cash (used in) provided by financing activities (367) 12,261 (1,121,293) 29,192 (1,080,207) Net decrease in cash and due from banks (14,188) (6) (60,395) 14,049 (60,540) 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 $ 6,260 $ 602 $ 320,495 $ (6,802) $ 320,555 The Condensed Consolidating Statements of Cash Flows include the cash flows from operating, investing and financing activities associated with discontinued operations. |
Note Discontinued Operations an
Note Discontinued Operations and restructuring plan (Activity in the reserve for restructuring costs) (Detail) - Restructuring Charges - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Restructuring Cost And Reserve [Line Items] | ||
Restructuring Reserve | $ 620 | $ 13,536 |
Charges expensed during the period | 0 | 7,725 |
Payments made during the period | (430) | (20,469) |
Restructuring Reserve | $ 190 | $ 792 |
Note Discontinued Operations 77
Note Discontinued Operations and restructuring plan - Additional information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 18 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 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 | $ 1,815 | ||
Assets from discontinued operations | 0 | 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 | $ (9) | 0 | $ 1,347 | |
Continuing Operations | |||||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |||||
Restructuring Charges | 0 | 481 | 0 | 17,408 | $ 45,100 |
Personnel costs | $ 121,224 | $ 120,863 | $ 365,023 | 358,298 | |
Continuing Operations | Restructuring Charges Member | |||||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |||||
Personnel costs | $ 12,700 |
Note Business Combination (Fair
Note Business Combination (Fair values of major classes of identifiable assets acquired and liabilities assumed) (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Feb. 27, 2015 | Dec. 31, 2014 | |
Business Acquisition | ||||||
Goodwill | $ 627,294 | $ 626,388 | $ 504,925 | $ 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 (Fa79
Note Business Combination (Fair values of major classes of identifiable assets acquired and liabilities assumed - Recasted) (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Feb. 27, 2015 | Dec. 31, 2014 | |
Business Acquisition | ||||||
Goodwill | $ 627,294 | $ 626,388 | $ 504,925 | $ 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 - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2015 | Sep. 30, 2015 | |
Net Interest Income | ||
Business Acquisition | ||
Differences | $ (1,051) | $ 1,953 |
Noninterest Income | ||
Business Acquisition | ||
Differences | 833 | 833 |
Operating Expenses | ||
Business Acquisition | ||
Differences | (269) | (627) |
Income Before Tax | ||
Business Acquisition | ||
Differences | 51 | 3,413 |
As recasted | ||
Business Acquisition | ||
Net interest income | 23,927 | 63,863 |
Non interest Income | 6,745 | 18,217 |
Operating expenses | 18,809 | 59,714 |
Income (loss) from continuing operations before income tax | 11,863 | 22,366 |
As previously reported | ||
Business Acquisition | ||
Net interest income | 24,978 | 61,910 |
Non interest Income | 5,912 | 17,384 |
Operating expenses | 19,078 | 60,341 |
Income (loss) from continuing operations before income tax | $ 11,812 | $ 18,953 |
Note Business Combination - Add
Note Business Combination - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Mar. 31, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Business Acquisition | |||||
Goodwill Purchase Accounting Adjustments | $ 4,700 | $ 4,707 | $ (3,385) | ||
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 | |||||
Differences | $ 51 | $ 3,413 | |||
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 | Sep. 30, 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 | $ 1,200 | $ 1,100 |
Restricted Cash And Cash Equivalents | $ 24 | $ 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 | Sep. 30, 2016 | Dec. 31, 2015 | ||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 7,540,175 | [1] | $ 6,073,005 | [2] |
Gross Unrealized Gains | 102,838 | 53,350 | ||
Gross Unrealized Losses | 14,357 | 63,363 | ||
Fair Value | $ 7,628,656 | [1] | $ 6,062,992 | [2] |
Weighted Average Yield | 2.03% | 2.07% | ||
US Treasury Securities | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 1,612,216 | $ 1,184,605 | ||
Gross Unrealized Gains | 7,200 | 722 | ||
Gross Unrealized Losses | 0 | 1,999 | ||
Fair Value | $ 1,619,416 | $ 1,183,328 | ||
Weighted Average Yield | 1.05% | 1.11% | ||
US Treasury Securities | Within 1 year | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 689,259 | $ 24,861 | ||
Gross Unrealized Gains | 2,033 | 335 | ||
Gross Unrealized Losses | 0 | 0 | ||
Fair Value | $ 691,292 | $ 25,196 | ||
Weighted Average Yield | 0.99% | 4.31% | ||
US Treasury Securities | After 1 and within 5 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 913,013 | $ 1,149,807 | ||
Gross Unrealized Gains | 4,782 | 365 | ||
Gross Unrealized Losses | 0 | 1,999 | ||
Fair Value | $ 917,795 | $ 1,148,173 | ||
Weighted Average Yield | 1.09% | 1.03% | ||
US Treasury Securities | After 5 to 10 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 9,944 | $ 9,937 | ||
Gross Unrealized Gains | 385 | 22 | ||
Gross Unrealized Losses | 0 | 0 | ||
Fair Value | $ 10,329 | $ 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 | $ 693,519 | $ 943,069 | ||
Gross Unrealized Gains | 4,915 | 1,380 | ||
Gross Unrealized Losses | 125 | 4,808 | ||
Fair Value | $ 698,309 | $ 939,641 | ||
Weighted Average Yield | 1.33% | 1.38% | ||
Obligations of U.S. Government sponsored entities | Within 1 year | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 100,062 | |||
Gross Unrealized Gains | 298 | |||
Gross Unrealized Losses | 0 | |||
Fair Value | $ 100,360 | |||
Weighted Average Yield | 0.98% | |||
Obligations of U.S. Government sponsored entities | After 1 and within 5 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 593,257 | $ 919,819 | ||
Gross Unrealized Gains | 4,616 | 1,337 | ||
Gross Unrealized Losses | 125 | 4,808 | ||
Fair Value | $ 597,748 | $ 916,348 | ||
Weighted Average Yield | 1.39% | 1.33% | ||
Obligations of U.S. Government sponsored entities | After 5 to 10 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 200 | $ 250 | ||
Gross Unrealized Gains | 1 | 1 | ||
Gross Unrealized Losses | 0 | 0 | ||
Fair Value | $ 201 | $ 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 | |||
Gross Unrealized Gains | 42 | |||
Gross Unrealized Losses | 0 | |||
Fair Value | $ 23,042 | |||
Weighted Average Yield | 3.22% | |||
Obligations of Puerto Rico, States and political subdivisions | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 31,759 | $ 31,737 | ||
Gross Unrealized Gains | 14 | 0 | ||
Gross Unrealized Losses | 4,797 | 9,378 | ||
Fair Value | $ 26,976 | $ 22,359 | ||
Weighted Average Yield | 5.80% | 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 | $ 7,210 | $ 7,227 | ||
Gross Unrealized Gains | 0 | 0 | ||
Gross Unrealized Losses | 34 | 199 | ||
Fair Value | $ 7,176 | $ 7,028 | ||
Weighted Average Yield | 4.19% | 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 | $ 5,915 | $ 5,925 | ||
Gross Unrealized Gains | 6 | 0 | ||
Gross Unrealized Losses | 1,287 | 2,200 | ||
Fair Value | $ 4,634 | $ 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 | $ 18,634 | $ 18,585 | ||
Gross Unrealized Gains | 8 | 0 | ||
Gross Unrealized Losses | 3,476 | 6,979 | ||
Fair Value | $ 15,166 | $ 11,606 | ||
Weighted Average Yield | 6.99% | 6.99% | ||
Collateralized Mortgage Obligations - Federal agencies | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 1,331,641 | $ 1,584,693 | ||
Gross Unrealized Gains | 15,059 | 9,464 | ||
Gross Unrealized Losses | 7,449 | 33,320 | ||
Fair Value | $ 1,339,251 | $ 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 | $ 69 | |||
Gross Unrealized Gains | 0 | |||
Gross Unrealized Losses | 0 | |||
Fair Value | $ 69 | |||
Weighted Average Yield | 1.03% | |||
Collateralized Mortgage Obligations - Federal agencies | After 1 and within 5 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 19,151 | $ 21,446 | ||
Gross Unrealized Gains | 754 | 594 | ||
Gross Unrealized Losses | 0 | 37 | ||
Fair Value | $ 19,905 | $ 22,003 | ||
Weighted Average Yield | 2.88% | 2.81% | ||
Collateralized Mortgage Obligations - Federal agencies | After 5 to 10 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 33,067 | $ 44,585 | ||
Gross Unrealized Gains | 642 | 733 | ||
Gross Unrealized Losses | 0 | 0 | ||
Fair Value | $ 33,709 | $ 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 | $ 1,279,354 | $ 1,518,662 | ||
Gross Unrealized Gains | 13,663 | 8,137 | ||
Gross Unrealized Losses | 7,449 | 33,283 | ||
Fair Value | $ 1,285,568 | $ 1,493,516 | ||
Weighted Average Yield | 1.97% | 1.99% | ||
Mortgage Backed Securities | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 3,860,082 | $ 2,317,329 | ||
Gross Unrealized Gains | 74,633 | 40,692 | ||
Gross Unrealized Losses | 1,986 | 13,825 | ||
Fair Value | $ 3,932,729 | $ 2,344,196 | ||
Weighted Average Yield | 2.53% | 2.81% | ||
Mortgage Backed Securities | Within 1 year | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 11 | |||
Gross Unrealized Gains | 0 | |||
Gross Unrealized Losses | 0 | |||
Fair Value | $ 11 | |||
Weighted Average Yield | 4.18% | |||
Mortgage Backed Securities | After 1 and within 5 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 21,926 | $ 22,015 | ||
Gross Unrealized Gains | 816 | 987 | ||
Gross Unrealized Losses | 7 | 8 | ||
Fair Value | $ 22,735 | $ 22,994 | ||
Weighted Average Yield | 3.92% | 4.65% | ||
Mortgage Backed Securities | After 5 to 10 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 261,441 | $ 256,097 | ||
Gross Unrealized Gains | 6,876 | 4,866 | ||
Gross Unrealized Losses | 25 | 1,197 | ||
Fair Value | $ 268,292 | $ 259,766 | ||
Weighted Average Yield | 2.39% | 2.51% | ||
Mortgage Backed Securities | After 10 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 3,576,704 | $ 2,039,217 | ||
Gross Unrealized Gains | 66,941 | 34,839 | ||
Gross Unrealized Losses | 1,954 | 12,620 | ||
Fair Value | $ 3,641,691 | $ 2,061,436 | ||
Weighted Average Yield | 2.53% | 2.83% | ||
Equity securities | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 1,245 | $ 1,350 | ||
Gross Unrealized Gains | 960 | 1,053 | ||
Gross Unrealized Losses | 0 | 5 | ||
Fair Value | $ 2,205 | $ 2,398 | ||
Weighted Average Yield | 8.21% | 7.92% | ||
Other | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 9,713 | $ 10,222 | ||
Gross Unrealized Gains | 57 | 39 | ||
Gross Unrealized Losses | 0 | 28 | ||
Fair Value | $ 9,770 | $ 10,233 | ||
Weighted Average Yield | 1.96% | 1.95% | ||
Other | Within 1 year | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 8,633 | |||
Gross Unrealized Gains | 20 | |||
Gross Unrealized Losses | 0 | |||
Fair Value | $ 8,653 | |||
Weighted Average Yield | 1.75% | |||
Other | After 1 and within 5 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 8,911 | |||
Gross Unrealized Gains | 0 | |||
Gross Unrealized Losses | 28 | |||
Fair Value | $ 8,883 | |||
Weighted Average Yield | 1.71% | |||
Other | After 5 to 10 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 1,080 | $ 1,311 | ||
Gross Unrealized Gains | 37 | 39 | ||
Gross Unrealized Losses | 0 | 0 | ||
Fair Value | $ 1,117 | $ 1,350 | ||
Weighted Average Yield | 3.62% | 3.62% | ||
[1] | Includes $4.2 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 $3.3 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 $1.5 billion serve as collateral for public funds. |
Note Investment Securities Av84
Note Investment Securities Available for Sale (Amortized cost, gross unrealized gains and losses, approximate fair value, weighted average yield and contractual maturities of investment securities AFS) (Parenthetical) (Detail) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Available For Sale Securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Pledged Financial Instruments, Not Separately Reported, Securities | $ 4,200 | $ 2,400 |
Securities Investment | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Pledged Financial Instruments, Not Separately Reported, Securities for Other Debt Facilities | $ 3,300 | $ 1,500 |
Note Investment Securities Av85
Note Investment Securities Available for Sale (Realized gains and losses on investments securities available-for-sale) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Available-for-sale Securities, Gross Realized Gain (Loss), Disclosures | ||||
Gross Realized Gains | $ 348 | $ 221 | $ 348 | $ 226 |
Gross Realized Losses | 0 | (85) | 0 | (85) |
Net realized (losses) gains on sale of investment securities AFS | $ 348 | $ 136 | $ 348 | $ 141 |
Note Investment Securities Av86
Note Investment Securities Available for Sale (AFS securities in a continuous unrealized loss position) (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months Fair Value | $ 622,473 | $ 2,962,984 |
Less than 12 months Gross Unrealized Losses | 2,359 | 21,762 |
12 months or more Fair Value | 387,078 | 1,037,791 |
12 months or more Gross Unrealized Losses | 11,998 | 41,601 |
Total Fair Value | 1,009,551 | 4,000,775 |
Total Gross Unrealized Losses | 14,357 | 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 | 24,011 | 390,319 |
Less than 12 months Gross Unrealized Losses | 107 | 2,128 |
12 months or more Fair Value | 1,180 | 181,744 |
12 months or more Gross Unrealized Losses | 18 | 2,680 |
Total Fair Value | 25,191 | 572,063 |
Total Gross Unrealized Losses | 125 | 4,808 |
Obligations of Puerto Rico, States and political subdivisions | ||
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months Fair Value | 7,176 | 884 |
Less than 12 months Gross Unrealized Losses | 34 | 164 |
12 months or more Fair Value | 17,821 | 19,490 |
12 months or more Gross Unrealized Losses | 4,763 | 9,214 |
Total Fair Value | 24,997 | 20,374 |
Total Gross Unrealized Losses | 4,797 | 9,378 |
Collateralized Mortgage Obligations - Federal agencies | ||
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months Fair Value | 112,432 | 331,501 |
Less than 12 months Gross Unrealized Losses | 241 | 4,446 |
12 months or more Fair Value | 367,488 | 814,195 |
12 months or more Gross Unrealized Losses | 7,208 | 28,874 |
Total Fair Value | 479,920 | 1,145,696 |
Total Gross Unrealized Losses | 7,449 | 33,320 |
Mortgage Backed Securities | ||
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months Fair Value | 478,854 | 1,641,663 |
Less than 12 months Gross Unrealized Losses | 1,977 | 12,992 |
12 months or more Fair Value | 589 | 22,362 |
12 months or more Gross Unrealized Losses | 9 | 833 |
Total Fair Value | 479,443 | 1,664,025 |
Total Gross Unrealized Losses | $ 1,986 | 13,825 |
Equity securities | ||
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months Fair Value | 45 | |
Less than 12 months Gross Unrealized Losses | 5 | |
12 months or more Fair Value | 0 | |
12 months or more Gross Unrealized Losses | 0 | |
Total Fair Value | 45 | |
Total Gross Unrealized Losses | 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 | Sep. 30, 2016 | Dec. 31, 2015 |
FNMA | ||
Investment Holdings [Line Items] | ||
Amortized Cost | $ 3,080,757 | $ 2,649,860 |
Fair Value | 3,118,968 | 2,633,899 |
Freddie Mac | ||
Investment Holdings [Line Items] | ||
Amortized Cost | 1,324,336 | 1,088,691 |
Fair Value | $ 1,335,953 | $ 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 | 9 Months Ended | ||||||||
Sep. 30, 2016 | Jun. 30, 2016 | Sep. 30, 2015 | Jun. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||||||||
Available-for-sale Securities, Gross Unrealized Losses | $ 14,357 | $ 14,357 | $ 63,363 | |||||||
Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net | 209 | $ 14,445 | ||||||||
Available-for-sale Securities, Amortized Cost Basis | 7,540,175 | [1] | 7,540,175 | [1] | 6,073,005 | [2] | ||||
Proceeds from sale of investment securities available for sale | 1,556 | 96,760 | ||||||||
AFS Securities Sold | ||||||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||||||
Available-for-sale Securities, Amortized Cost Basis | 0 | 0 | $ 70,000 | |||||||
Continuing Operations | ||||||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||||||
Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net | 0 | $ 209 | $ 0 | $ 14,445 | 209 | 14,445 | ||||
Net (loss) gain and valuation adjustments on investment securities | $ 349 | $ 136 | $ 1,932 | $ 141 | ||||||
[1] | Includes $4.2 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 $3.3 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 $1.5 billion serve as collateral for public funds. |
Note Investment Securities Held
Note Investment Securities Held-to-maturity (Amortized cost, gross unrealized gains and losses, approximate fair value, weighted average yield and contractual maturities of investment securities HTM) (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | ||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Amortized Cost | $ 97,973 | [1] | $ 100,903 | [2] |
Gross Unrealized Gains | 3,728 | 3,609 | ||
Gross Unrealized Losses | 22,291 | 21,623 | ||
Fair Value | $ 79,410 | [1] | $ 82,889 | [2] |
Weighted Average Yield | 3.47% | 3.52% | ||
Obligations of Puerto Rico, States and political subdivisions | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Amortized Cost | $ 95,895 | $ 98,817 | ||
Gross Unrealized Gains | 3,723 | 3,604 | ||
Gross Unrealized Losses | 22,252 | 21,606 | ||
Fair Value | $ 77,366 | $ 80,815 | ||
Weighted Average Yield | 3.50% | 3.55% | ||
Obligations of Puerto Rico, States and political subdivisions | Within 1 year | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Amortized Cost | $ 3,105 | $ 2,920 | ||
Gross Unrealized Gains | 0 | 0 | ||
Gross Unrealized Losses | 1,218 | 291 | ||
Fair Value | $ 1,887 | $ 2,629 | ||
Weighted Average Yield | 5.92% | 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 | $ 14,540 | $ 13,655 | ||
Gross Unrealized Gains | 0 | 0 | ||
Gross Unrealized Losses | 5,865 | 5,015 | ||
Fair Value | $ 8,675 | $ 8,640 | ||
Weighted Average Yield | 6.02% | 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 | $ 18,635 | $ 20,020 | ||
Gross Unrealized Gains | 0 | 0 | ||
Gross Unrealized Losses | 7,642 | 8,020 | ||
Fair Value | $ 10,993 | $ 12,000 | ||
Weighted Average Yield | 6.20% | 6.14% | ||
Obligations of Puerto Rico, States and political subdivisions | After 10 years | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Amortized Cost | $ 59,615 | $ 62,222 | ||
Gross Unrealized Gains | 3,723 | 3,604 | ||
Gross Unrealized Losses | 7,527 | 8,280 | ||
Fair Value | $ 55,811 | $ 57,546 | ||
Weighted Average Yield | 1.92% | 2.08% | ||
Collateralized Mortgage Obligations - Federal agencies | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Amortized Cost | $ 78 | $ 86 | ||
Gross Unrealized Gains | 5 | 5 | ||
Gross Unrealized Losses | 0 | 0 | ||
Fair Value | $ 83 | $ 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 | $ 78 | $ 86 | ||
Gross Unrealized Gains | 5 | 5 | ||
Gross Unrealized Losses | 0 | 0 | ||
Fair Value | $ 83 | $ 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 | 39 | 17 | ||
Fair Value | $ 1,961 | $ 1,983 | ||
Weighted Average Yield | 3.62% | 1.81% | ||
Other | Within 1 year | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Amortized Cost | $ 1,000 | |||
Gross Unrealized Gains | 0 | |||
Gross Unrealized Losses | 4 | |||
Fair Value | $ 996 | |||
Weighted Average Yield | 1.34% | |||
Other | After 1 and within 5 years | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Amortized Cost | $ 1,000 | $ 2,000 | ||
Gross Unrealized Gains | 0 | 0 | ||
Gross Unrealized Losses | 35 | 17 | ||
Fair Value | $ 965 | $ 1,983 | ||
Weighted Average Yield | 2.28% | 1.81% | ||
[1] | Includes $96.2 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 | Sep. 30, 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 | $ 96.2 | $ 57.2 |
Note Investment Securities He91
Note Investment Securities Held-to-maturity (HTM securities in a continuous unrealized loss position) (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months Fair Value | $ 0 | $ 1,483 |
Less than 12 months Gross Unrealized Losses | 0 | 17 |
12 months or more Fair Value | 32,059 | 33,334 |
12 months or more Gross Unrealized Losses | 22,291 | 21,606 |
Total Fair Value | 32,059 | 34,817 |
Total Gross Unrealized Losses | 22,291 | 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 | 30,848 | 33,334 |
12 months or more Gross Unrealized Losses | 22,252 | 21,606 |
Total Fair Value | 30,848 | 33,334 |
Total Gross Unrealized Losses | 22,252 | 21,606 |
Other | ||
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months Fair Value | 0 | 1,483 |
Less than 12 months Gross Unrealized Losses | 0 | 17 |
12 months or more Fair Value | 1,211 | 0 |
12 months or more Gross Unrealized Losses | 39 | 0 |
Total Fair Value | 1,211 | 1,483 |
Total Gross Unrealized Losses | $ 39 | $ 17 |
Note Investment Securities He92
Note Investment Securities Held-to-maturity (Investments held-to-maturity-Additional Information) (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | ||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Amortized Cost | $ 97,973 | [1] | $ 100,903 | [2] |
Obligations of Puerto Rico, States and political subdivisions | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Amortized Cost | 95,895 | $ 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 | 53,000 | |||
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 | $ 43,000 | |||
[1] | Includes $96.2 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 | Sep. 30, 2016 | Dec. 31, 2015 | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | $ 22,595,972 | [1],[2] | $ 22,346,115 | [3],[4] | |
Commercial multi-family | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 1,122,699 | 826,079 | |||
CRE non-owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 3,824,449 | 3,632,115 | |||
CRE owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 2,079,678 | 2,111,588 | |||
Commercial and industrial | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 3,510,365 | 3,529,381 | |||
Construction | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 731,352 | 681,106 | |||
Mortgages | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 6,774,497 | 7,036,081 | |||
Leasing | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 682,810 | 627,650 | |||
Legacy | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | [5] | 47,914 | 64,436 | ||
Consumer | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 3,822,208 | 3,837,679 | |||
Non Covered Loans | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 1,915,002 | 2,179,312 | |||
Current | 20,680,970 | 20,166,803 | |||
Loans held-in-portfolio | 22,595,972 | 22,346,115 | |||
Non Covered Loans | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 394,586 | 640,788 | |||
Non Covered Loans | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 304,420 | 222,279 | |||
Non Covered Loans | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 1,215,996 | 1,316,245 | |||
Non Covered Loans | Commercial multi-family | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 1,368 | 2,278 | |||
Current | 1,121,331 | 823,801 | |||
Loans held-in-portfolio | 1,122,699 | 826,079 | |||
Non Covered Loans | Commercial multi-family | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 229 | 492 | |||
Non Covered Loans | Commercial multi-family | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 0 | 470 | |||
Non Covered Loans | Commercial multi-family | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 1,139 | 1,316 | |||
Non Covered Loans | CRE non-owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 143,061 | 264,647 | |||
Current | 3,681,388 | 3,367,468 | |||
Loans held-in-portfolio | 3,824,449 | 3,632,115 | |||
Non Covered Loans | CRE non-owner occupied | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 6,544 | 166,892 | |||
Non Covered Loans | CRE non-owner occupied | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 81,988 | 12,520 | |||
Non Covered Loans | CRE non-owner occupied | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 54,529 | 85,235 | |||
Non Covered Loans | CRE owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 145,745 | 160,787 | |||
Current | 1,933,933 | 1,950,801 | |||
Loans held-in-portfolio | 2,079,678 | 2,111,588 | |||
Non Covered Loans | CRE owner occupied | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 10,643 | 15,735 | |||
Non Covered Loans | CRE owner occupied | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 7,572 | 6,053 | |||
Non Covered Loans | CRE owner occupied | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 127,530 | 138,999 | |||
Non Covered Loans | Commercial and industrial | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 144,572 | 141,281 | |||
Current | 3,365,793 | 3,388,100 | |||
Loans held-in-portfolio | 3,510,365 | 3,529,381 | |||
Non Covered Loans | Commercial and industrial | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 19,008 | 19,657 | |||
Non Covered Loans | Commercial and industrial | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 3,926 | 7,585 | |||
Non Covered Loans | Commercial and industrial | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 121,638 | 114,039 | |||
Non Covered Loans | Construction | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 23,995 | 14,229 | |||
Current | 707,357 | 666,877 | |||
Loans held-in-portfolio | 731,352 | 681,106 | |||
Non Covered Loans | Construction | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 0 | 238 | |||
Non Covered Loans | Construction | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 22,275 | 253 | |||
Non Covered Loans | Construction | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 1,720 | 13,738 | |||
Non Covered Loans | Mortgages | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 1,274,495 | 1,406,987 | |||
Current | 5,500,002 | 5,629,094 | |||
Loans held-in-portfolio | 6,774,497 | 7,036,081 | |||
Non Covered Loans | Mortgages | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 287,572 | 363,815 | |||
Non Covered Loans | Mortgages | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 159,478 | 165,765 | |||
Non Covered Loans | Mortgages | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 827,445 | 877,407 | |||
Non Covered Loans | Leasing | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 11,152 | 12,483 | |||
Current | 671,658 | 615,167 | |||
Loans held-in-portfolio | 682,810 | 627,650 | |||
Non Covered Loans | Leasing | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 6,257 | 7,844 | |||
Non Covered Loans | Leasing | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 2,017 | 1,630 | |||
Non Covered Loans | Leasing | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 2,878 | 3,009 | |||
Non Covered Loans | Legacy | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 4,055 | 5,471 | |||
Current | 43,859 | 58,965 | |||
Loans held-in-portfolio | 47,914 | 64,436 | |||
Non Covered Loans | Legacy | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 96 | 1,160 | |||
Non Covered Loans | Legacy | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 509 | 662 | |||
Non Covered Loans | Legacy | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 3,450 | 3,649 | |||
Non Covered Loans | Consumer | Credit cards | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 38,495 | 40,488 | |||
Current | 1,067,535 | 1,101,792 | |||
Loans held-in-portfolio | 1,106,030 | 1,142,280 | |||
Non Covered Loans | Consumer | Credit cards | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 11,834 | 11,405 | |||
Non Covered Loans | Consumer | Credit cards | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 8,393 | 9,548 | |||
Non Covered Loans | Consumer | Credit cards | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 18,268 | 19,535 | |||
Non Covered Loans | Consumer | Home equity lines of credit | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 9,049 | 9,311 | |||
Current | 262,784 | 305,861 | |||
Loans held-in-portfolio | 271,833 | 315,172 | |||
Non Covered Loans | Consumer | Home equity lines of credit | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 3,254 | 3,335 | |||
Non Covered Loans | Consumer | Home equity lines of credit | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 1,064 | 1,406 | |||
Non Covered Loans | Consumer | Home equity lines of credit | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 4,731 | 4,570 | |||
Non Covered Loans | Consumer | Personal | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 47,474 | 48,036 | |||
Current | 1,389,696 | 1,327,425 | |||
Loans held-in-portfolio | 1,437,170 | 1,375,461 | |||
Non Covered Loans | Consumer | Personal | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 15,001 | 15,592 | |||
Non Covered Loans | Consumer | Personal | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 9,467 | 8,579 | |||
Non Covered Loans | Consumer | Personal | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 23,006 | 23,865 | |||
Non Covered Loans | Consumer | Auto | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 53,245 | 52,700 | |||
Current | 775,591 | 763,278 | |||
Loans held-in-portfolio | 828,836 | 815,978 | |||
Non Covered Loans | Consumer | Auto | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 33,586 | 33,554 | |||
Non Covered Loans | Consumer | Auto | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 7,450 | 7,500 | |||
Non Covered Loans | Consumer | Auto | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 12,209 | 11,646 | |||
Non Covered Loans | Consumer | Other | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 18,296 | 20,614 | |||
Current | 160,043 | 168,174 | |||
Loans held-in-portfolio | 178,339 | 188,788 | |||
Non Covered Loans | Consumer | Other | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 562 | 1,069 | |||
Non Covered Loans | Consumer | Other | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 281 | 308 | |||
Non Covered Loans | Consumer | Other | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 17,453 | 19,237 | |||
PUERTO RICO | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | [6] | 17,276,701 | 17,570,610 | ||
PUERTO RICO | Commercial multi-family | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | [6] | 176,501 | 132,146 | ||
PUERTO RICO | CRE non-owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | [6] | 2,598,451 | 2,669,092 | ||
PUERTO RICO | CRE owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | [6] | 1,842,197 | 1,909,244 | ||
PUERTO RICO | Commercial and industrial | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | [6] | 2,637,020 | 2,657,737 | ||
PUERTO RICO | Construction | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 81,054 | 100,948 | |||
PUERTO RICO | Mortgages | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | [6] | 5,964,838 | 6,127,491 | ||
PUERTO RICO | Leasing | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | [6] | 682,810 | 627,650 | ||
PUERTO RICO | Consumer | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | [6] | 3,293,830 | 3,346,302 | ||
PUERTO RICO | Non Covered Loans | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 1,760,579 | 2,031,211 | |||
Current | 15,516,122 | 15,539,399 | |||
Loans held-in-portfolio | 17,276,701 | 17,570,610 | |||
PUERTO RICO | Non Covered Loans | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 387,792 | 600,029 | |||
PUERTO RICO | Non Covered Loans | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 271,309 | 214,037 | |||
PUERTO RICO | Non Covered Loans | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 1,101,478 | 1,217,145 | |||
PUERTO RICO | Non Covered Loans | Commercial multi-family | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 1,161 | 1,992 | |||
Current | 175,340 | 130,154 | |||
Loans held-in-portfolio | 176,501 | 132,146 | |||
PUERTO RICO | Non Covered Loans | Commercial multi-family | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 229 | 459 | |||
PUERTO RICO | Non Covered Loans | Commercial multi-family | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 0 | 217 | |||
PUERTO RICO | Non Covered Loans | Commercial multi-family | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 932 | 1,316 | |||
PUERTO RICO | Non Covered Loans | CRE non-owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 142,254 | 264,234 | |||
Current | 2,456,197 | 2,404,858 | |||
Loans held-in-portfolio | 2,598,451 | 2,669,092 | |||
PUERTO RICO | Non Covered Loans | CRE non-owner occupied | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 6,544 | 166,732 | |||
PUERTO RICO | Non Covered Loans | CRE non-owner occupied | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 81,988 | 12,520 | |||
PUERTO RICO | Non Covered Loans | CRE non-owner occupied | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 53,722 | 84,982 | |||
PUERTO RICO | Non Covered Loans | CRE owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 142,988 | 158,647 | |||
Current | 1,699,209 | 1,750,597 | |||
Loans held-in-portfolio | 1,842,197 | 1,909,244 | |||
PUERTO RICO | Non Covered Loans | CRE owner occupied | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 10,643 | 14,245 | |||
PUERTO RICO | Non Covered Loans | CRE owner occupied | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 5,896 | 5,624 | |||
PUERTO RICO | Non Covered Loans | CRE owner occupied | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 126,449 | 138,778 | |||
PUERTO RICO | Non Covered Loans | Commercial and industrial | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 55,428 | 50,533 | |||
Current | 2,581,592 | 2,607,204 | |||
Loans held-in-portfolio | 2,637,020 | 2,657,737 | |||
PUERTO RICO | Non Covered Loans | Commercial and industrial | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 18,841 | 6,010 | |||
PUERTO RICO | Non Covered Loans | Commercial and industrial | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 2,809 | 6,059 | |||
PUERTO RICO | Non Covered Loans | Commercial and industrial | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 33,778 | 38,464 | |||
PUERTO RICO | Non Covered Loans | Construction | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 1,720 | 14,229 | |||
Current | 79,334 | 86,719 | |||
Loans held-in-portfolio | 81,054 | 100,948 | |||
PUERTO RICO | Non Covered Loans | Construction | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 0 | 238 | |||
PUERTO RICO | Non Covered Loans | Construction | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 0 | 253 | |||
PUERTO RICO | Non Covered Loans | Construction | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 1,720 | 13,738 | |||
PUERTO RICO | Non Covered Loans | Mortgages | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 1,253,700 | 1,371,068 | |||
Current | 4,711,138 | 4,756,423 | |||
Loans held-in-portfolio | 5,964,838 | 6,127,491 | |||
PUERTO RICO | Non Covered Loans | Mortgages | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 286,097 | 344,858 | |||
PUERTO RICO | Non Covered Loans | Mortgages | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 154,588 | 162,341 | |||
PUERTO RICO | Non Covered Loans | Mortgages | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 813,015 | 863,869 | |||
PUERTO RICO | Non Covered Loans | Leasing | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 11,152 | 12,483 | |||
Current | 671,658 | 615,167 | |||
Loans held-in-portfolio | 682,810 | 627,650 | |||
PUERTO RICO | Non Covered Loans | Leasing | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 6,257 | 7,844 | |||
PUERTO RICO | Non Covered Loans | Leasing | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 2,017 | 1,630 | |||
PUERTO RICO | Non Covered Loans | Leasing | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 2,878 | 3,009 | |||
PUERTO RICO | Non Covered Loans | Consumer | Credit cards | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 38,371 | 39,590 | |||
Current | 1,067,386 | 1,088,755 | |||
Loans held-in-portfolio | 1,105,757 | 1,128,345 | |||
PUERTO RICO | Non Covered Loans | Consumer | Credit cards | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 11,806 | 11,078 | |||
PUERTO RICO | Non Covered Loans | Consumer | Credit cards | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 8,379 | 9,414 | |||
PUERTO RICO | Non Covered Loans | Consumer | Credit cards | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 18,186 | 19,098 | |||
PUERTO RICO | Non Covered Loans | Consumer | Home equity lines of credit | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 442 | 872 | |||
Current | 8,178 | 9,816 | |||
Loans held-in-portfolio | 8,620 | 10,688 | |||
PUERTO RICO | Non Covered Loans | Consumer | Home equity lines of credit | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 238 | 186 | |||
PUERTO RICO | Non Covered Loans | Consumer | Home equity lines of credit | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 102 | 292 | |||
PUERTO RICO | Non Covered Loans | Consumer | Home equity lines of credit | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 102 | 394 | |||
PUERTO RICO | Non Covered Loans | Consumer | Personal | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 41,830 | 44,270 | |||
Current | 1,130,726 | 1,158,565 | |||
Loans held-in-portfolio | 1,172,556 | 1,202,835 | |||
PUERTO RICO | Non Covered Loans | Consumer | Personal | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 12,997 | 13,756 | |||
PUERTO RICO | Non Covered Loans | Consumer | Personal | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 7,799 | 7,889 | |||
PUERTO RICO | Non Covered Loans | Consumer | Personal | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 21,034 | 22,625 | |||
PUERTO RICO | Non Covered Loans | Consumer | Auto | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 53,245 | 52,694 | |||
Current | 775,579 | 763,256 | |||
Loans held-in-portfolio | 828,824 | 815,950 | |||
PUERTO RICO | Non Covered Loans | Consumer | Auto | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 33,586 | 33,554 | |||
PUERTO RICO | Non Covered Loans | Consumer | Auto | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 7,450 | 7,500 | |||
PUERTO RICO | Non Covered Loans | Consumer | Auto | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 12,209 | 11,640 | |||
PUERTO RICO | Non Covered Loans | Consumer | Other | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 18,288 | 20,599 | |||
Current | 159,785 | 167,885 | |||
Loans held-in-portfolio | 178,073 | 188,484 | |||
PUERTO RICO | Non Covered Loans | Consumer | Other | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 554 | 1,069 | |||
PUERTO RICO | Non Covered Loans | Consumer | Other | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 281 | 298 | |||
PUERTO RICO | Non Covered Loans | Consumer | Other | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 17,453 | 19,232 | |||
UNITED STATES | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 5,319,271 | 4,775,505 | |||
UNITED STATES | Commercial multi-family | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 946,198 | 693,933 | |||
UNITED STATES | CRE non-owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 1,225,998 | 963,023 | |||
UNITED STATES | CRE owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 237,481 | 202,344 | |||
UNITED STATES | Commercial and industrial | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 873,345 | 871,644 | |||
UNITED STATES | Construction | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 650,298 | 580,158 | |||
UNITED STATES | Mortgages | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 809,659 | 908,590 | |||
UNITED STATES | Legacy | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 47,914 | 64,436 | |||
UNITED STATES | Consumer | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 528,378 | 491,377 | |||
UNITED STATES | Non Covered Loans | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 154,423 | 148,101 | |||
Current | 5,164,848 | 4,627,404 | |||
Loans held-in-portfolio | 5,319,271 | 4,775,505 | |||
UNITED STATES | Non Covered Loans | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 6,794 | 40,759 | |||
UNITED STATES | Non Covered Loans | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 33,111 | 8,242 | |||
UNITED STATES | Non Covered Loans | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 114,518 | 99,100 | |||
UNITED STATES | Non Covered Loans | Commercial multi-family | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 207 | 286 | |||
Current | 945,991 | 693,647 | |||
Loans held-in-portfolio | 946,198 | 693,933 | |||
UNITED STATES | Non Covered Loans | Commercial multi-family | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 0 | 33 | |||
UNITED STATES | Non Covered Loans | Commercial multi-family | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 0 | 253 | |||
UNITED STATES | Non Covered Loans | Commercial multi-family | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 207 | 0 | |||
UNITED STATES | Non Covered Loans | CRE non-owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 807 | 413 | |||
Current | 1,225,191 | 962,610 | |||
Loans held-in-portfolio | 1,225,998 | 963,023 | |||
UNITED STATES | Non Covered Loans | CRE non-owner occupied | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 0 | 160 | |||
UNITED STATES | Non Covered Loans | CRE non-owner occupied | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 0 | 0 | |||
UNITED STATES | Non Covered Loans | CRE non-owner occupied | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 807 | 253 | |||
UNITED STATES | Non Covered Loans | CRE owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 2,757 | 2,140 | |||
Current | 234,724 | 200,204 | |||
Loans held-in-portfolio | 237,481 | 202,344 | |||
UNITED STATES | Non Covered Loans | CRE owner occupied | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 0 | 1,490 | |||
UNITED STATES | Non Covered Loans | CRE owner occupied | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 1,676 | 429 | |||
UNITED STATES | Non Covered Loans | CRE owner occupied | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 1,081 | 221 | |||
UNITED STATES | Non Covered Loans | Commercial and industrial | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 89,144 | 90,748 | |||
Current | 784,201 | 780,896 | |||
Loans held-in-portfolio | 873,345 | 871,644 | |||
UNITED STATES | Non Covered Loans | Commercial and industrial | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 167 | 13,647 | |||
UNITED STATES | Non Covered Loans | Commercial and industrial | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 1,117 | 1,526 | |||
UNITED STATES | Non Covered Loans | Commercial and industrial | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 87,860 | 75,575 | |||
UNITED STATES | Non Covered Loans | Construction | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 22,275 | 0 | |||
Current | 628,023 | 580,158 | |||
Loans held-in-portfolio | 650,298 | 580,158 | |||
UNITED STATES | Non Covered Loans | Construction | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 0 | 0 | |||
UNITED STATES | Non Covered Loans | Construction | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 22,275 | 0 | |||
UNITED STATES | Non Covered Loans | Construction | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 0 | 0 | |||
UNITED STATES | Non Covered Loans | Mortgages | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 20,795 | 35,919 | |||
Current | 788,864 | 872,671 | |||
Loans held-in-portfolio | 809,659 | 908,590 | |||
UNITED STATES | Non Covered Loans | Mortgages | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 1,475 | 18,957 | |||
UNITED STATES | Non Covered Loans | Mortgages | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 4,890 | 3,424 | |||
UNITED STATES | Non Covered Loans | Mortgages | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 14,430 | 13,538 | |||
UNITED STATES | Non Covered Loans | Legacy | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 4,055 | 5,471 | |||
Current | 43,859 | 58,965 | |||
Loans held-in-portfolio | 47,914 | 64,436 | |||
UNITED STATES | Non Covered Loans | Legacy | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 96 | 1,160 | |||
UNITED STATES | Non Covered Loans | Legacy | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 509 | 662 | |||
UNITED STATES | Non Covered Loans | Legacy | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 3,450 | 3,649 | |||
UNITED STATES | Non Covered Loans | Consumer | Credit cards | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 124 | 898 | |||
Current | 149 | 13,037 | |||
Loans held-in-portfolio | 273 | 13,935 | |||
UNITED STATES | Non Covered Loans | Consumer | Credit cards | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 28 | 327 | |||
UNITED STATES | Non Covered Loans | Consumer | Credit cards | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 14 | 134 | |||
UNITED STATES | Non Covered Loans | Consumer | Credit cards | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 82 | 437 | |||
UNITED STATES | Non Covered Loans | Consumer | Home equity lines of credit | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 8,607 | 8,439 | |||
Current | 254,606 | 296,045 | |||
Loans held-in-portfolio | 263,213 | 304,484 | |||
UNITED STATES | Non Covered Loans | Consumer | Home equity lines of credit | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 3,016 | 3,149 | |||
UNITED STATES | Non Covered Loans | Consumer | Home equity lines of credit | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 962 | 1,114 | |||
UNITED STATES | Non Covered Loans | Consumer | Home equity lines of credit | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 4,629 | 4,176 | |||
UNITED STATES | Non Covered Loans | Consumer | Personal | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 5,644 | 3,766 | |||
Current | 258,970 | 168,860 | |||
Loans held-in-portfolio | 264,614 | 172,626 | |||
UNITED STATES | Non Covered Loans | Consumer | Personal | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 2,004 | 1,836 | |||
UNITED STATES | Non Covered Loans | Consumer | Personal | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 1,668 | 690 | |||
UNITED STATES | Non Covered Loans | Consumer | Personal | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 1,972 | 1,240 | |||
UNITED STATES | Non Covered Loans | Consumer | Auto | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 0 | 6 | |||
Current | 12 | 22 | |||
Loans held-in-portfolio | 12 | 28 | |||
UNITED STATES | Non Covered Loans | Consumer | Auto | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 0 | 0 | |||
UNITED STATES | Non Covered Loans | Consumer | Auto | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 0 | 0 | |||
UNITED STATES | Non Covered Loans | Consumer | Auto | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 0 | 6 | |||
UNITED STATES | Non Covered Loans | Consumer | Other | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 8 | 15 | |||
Current | 258 | 289 | |||
Loans held-in-portfolio | 266 | 304 | |||
UNITED STATES | Non Covered Loans | Consumer | Other | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 8 | 0 | |||
UNITED STATES | Non Covered Loans | Consumer | Other | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 0 | 10 | |||
UNITED STATES | Non Covered Loans | Consumer | Other | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | $ 0 | $ 5 | |||
[1] | Includes $7.4 billion pledged to secure credit facilities and public funds that the secured parties are not permitted to sell or repledge the collateral, of which $4.6 billion were pledged at the FHLB as collateral for borrowings, $2.3 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 $118 million in unearned income and exclude $72 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 | Sep. 30, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable | ||
Loans held-in-portfolio, unearned income | $ 118,386 | $ 107,698 |
Loans held-for-sale, at lower of cost or fair value | 72,076 | 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 | 7,400,000 | 7,300,000 |
Loans-held-in portfolio served as collateral to secure credit facilities authorized with the FHLB | 4,600,000 | 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 | 2,300,000 | 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 | Sep. 30, 2016 | Dec. 31, 2015 | ||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | $ 579,325 | [1] | $ 601,799 | [2] |
Accruing loans past-due 90 days or more | 418,652 | 446,725 | ||
Commercial multi-family | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 1,139 | 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 | 25,491 | 33,973 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
CRE owner occupied | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 109,213 | 106,670 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
Commercial and industrial | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 34,728 | 40,111 | ||
Accruing loans past-due 90 days or more | 479 | 555 | ||
Construction | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 3,550 | |||
Accruing loans past-due 90 days or more | 0 | |||
Mortgages | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 345,776 | [3],[4] | 351,471 | [5],[6] |
Accruing loans past-due 90 days or more | 399,218 | [3],[4] | 426,094 | [5],[6] |
Leasing | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 2,878 | 3,009 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
Legacy | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 3,450 | 3,649 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
Consumer | Credit cards | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 82 | 437 | ||
Accruing loans past-due 90 days or more | 18,186 | 19,098 | ||
Consumer | Home equity lines of credit | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 4,629 | 4,176 | ||
Accruing loans past-due 90 days or more | 102 | 394 | ||
Consumer | Personal | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 22,919 | 23,342 | ||
Accruing loans past-due 90 days or more | 25 | 523 | ||
Consumer | Auto | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 12,209 | 11,646 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
Consumer | Other | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 16,811 | 18,703 | ||
Accruing loans past-due 90 days or more | 642 | 61 | ||
PUERTO RICO | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 551,238 | [1] | 574,834 | [2] |
Accruing loans past-due 90 days or more | 418,652 | 446,725 | ||
PUERTO RICO | Commercial multi-family | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 932 | 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 | 24,684 | 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 | 108,132 | 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 | 33,299 | 36,671 | ||
Accruing loans past-due 90 days or more | 479 | 555 | ||
PUERTO RICO | Construction | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 3,550 | |||
Accruing loans past-due 90 days or more | 0 | |||
PUERTO RICO | Mortgages | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 331,346 | [3],[4] | 337,933 | [5],[6] |
Accruing loans past-due 90 days or more | 399,218 | [3],[4] | 426,094 | [5],[6] |
PUERTO RICO | Leasing | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 2,878 | 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 | 18,186 | 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 | 102 | 394 | ||
PUERTO RICO | Consumer | Personal | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 20,947 | 22,102 | ||
Accruing loans past-due 90 days or more | 25 | 523 | ||
PUERTO RICO | Consumer | Auto | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 12,209 | 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 | 16,811 | 18,698 | ||
Accruing loans past-due 90 days or more | 642 | 61 | ||
UNITED STATES | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 28,087 | [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 | 207 | 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 | 807 | 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 | 1,081 | 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 | 1,429 | 3,440 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
UNITED STATES | Construction | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 0 | |||
Accruing loans past-due 90 days or more | 0 | |||
UNITED STATES | Mortgages | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 14,430 | [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 | 3,450 | 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 | 82 | 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 | 4,629 | 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 | 1,972 | 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 | 0 | 6 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
UNITED STATES | Consumer | Other | ||||
Financing Receivable, Recorded Investment, Past Due | ||||
Non-accrual loans | 0 | 5 | ||
Accruing loans past-due 90 days or more | $ 0 | $ 0 | ||
[1] | For purposes of this table non-performing loans exclude 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 past due 90 days or more as opposed to non-performing since the principal repayment is insured. These balances include $ 174 million of residential mortgage loans in Puerto Rico insured by FHA or guaranteed by the VA that are no longer accruing interest as of September 30, 2016 . Furthermore, the Co rporation has approximately $ 72 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 $ 218 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 | Sep. 30, 2016 | Dec. 31, 2015 | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans held-in-portfolio, net of unearned income | $ 22,595,972 | [1],[2] | $ 22,346,115 | [3],[4] |
Loans Held For Sale [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 0 | 45,169 | ||
ASC Subtopic 310-30 | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans held-in-portfolio, net of unearned income | 218,000 | 268,000 | ||
Reverse Mortgages | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Accruing loans past-due 90 days or more | 72,000 | 70,000 | ||
Residential mortgage loans insured By FHA | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Accruing loans past-due 90 days or more | $ 174,000 | $ 164,000 | ||
[1] | Includes $7.4 billion pledged to secure credit facilities and public funds that the secured parties are not permitted to sell or repledge the collateral, of which $4.6 billion were pledged at the FHLB as collateral for borrowings, $2.3 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 $118 million in unearned income and exclude $72 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 | Sep. 30, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans held-for-sale, at lower of cost or fair value | $ 72,076 | $ 137,000 |
Commercial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans held-for-sale, at lower of cost or fair value | 0 | 45,074 |
Construction | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans held-for-sale, at lower of cost or fair value | 0 | 95 |
Mortgages | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans held-for-sale, at lower of cost or fair value | $ 72,076 | $ 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 | Sep. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual loans | $ 0 | $ 45,169 |
Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual loans | 0 | 45,074 |
Construction | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual loans | $ 0 | $ 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 | Sep. 30, 2016 | Dec. 31, 2015 | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans covered under loss-sharing agreements with the FDIC | $ 588,211 | $ 646,115 | ||
Covered loans | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past Due | 118,851 | 134,111 | ||
Current | 469,360 | 512,004 | ||
Loans covered under loss-sharing agreements with the FDIC | 588,211 | [1] | 646,115 | [2] |
Covered loans | Past Due 30 To 59 Days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past Due | 30,727 | 32,659 | ||
Covered loans | Past Due 60 To 89 Days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past Due | 13,805 | 17,037 | ||
Covered loans | Past Due 90 Days or More | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past Due | 74,319 | 84,415 | ||
Covered loans | Mortgages | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past Due | 116,395 | 131,138 | ||
Current | 454,954 | 495,964 | ||
Loans covered under loss-sharing agreements with the FDIC | 571,349 | 627,102 | ||
Covered loans | Mortgages | Past Due 30 To 59 Days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past Due | 29,769 | 31,413 | ||
Covered loans | Mortgages | Past Due 60 To 89 Days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past Due | 13,433 | 16,593 | ||
Covered loans | Mortgages | Past Due 90 Days or More | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past Due | 73,193 | 83,132 | ||
Covered loans | Consumer | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past Due | 2,456 | 2,973 | ||
Current | 14,406 | 16,040 | ||
Loans covered under loss-sharing agreements with the FDIC | 16,862 | 19,013 | ||
Covered loans | Consumer | Past Due 30 To 59 Days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past Due | 958 | 1,246 | ||
Covered loans | Consumer | Past Due 60 To 89 Days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past Due | 372 | 444 | ||
Covered loans | Consumer | Past Due 90 Days or More | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past Due | $ 1,126 | $ 1,283 | ||
[1] | Includes $349 million pledged to secure credit facilities at the FHLB which are not permitted to sell or repledge the collateral. | |||
[2] | Includes $386 million pledged to secure credit facilities at the FHLB which are not permitted to sell or repledge the collateral. |
Note Loans (Composition of l101
Note Loans (Composition of loans held-in-portfolio-covered loans and past due status) (Parenthetical) (Detail) - USD ($) $ in Millions | Sep. 30, 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 | $ 349 | $ 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 | Sep. 30, 2016 | Dec. 31, 2015 | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Non-accrual loans | [1] | $ 3,797 | $ 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 | 3,659 | 3,790 | |
Accruing loans past-due 90 days or more | 0 | 0 | |
Consumer | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Non-accrual loans | 138 | 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 | Sep. 30, 2016 | Jun. 30, 2016 | [2] | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | |||
Accounts, Notes, Loans and Financing Receivable | ||||||||||
Carrying amount | $ 1,767,539 | [1],[2] | $ 1,799,943 | $ 1,974,501 | [2] | $ 2,076,012 | [1] | $ 2,137,078 | $ 2,444,172 | |
Less: Allowance for loan losses | (69,571) | (63,563) | (64,583) | |||||||
Carrying amount, net of allowance | 1,697,968 | 1,910,938 | 2,011,429 | |||||||
Commercial real estate | ||||||||||
Accounts, Notes, Loans and Financing Receivable | ||||||||||
Carrying amount | 1,037,634 | 1,149,761 | ||||||||
Commercial and industrial | ||||||||||
Accounts, Notes, Loans and Financing Receivable | ||||||||||
Carrying amount | 78,983 | 85,284 | ||||||||
Construction | ||||||||||
Accounts, Notes, Loans and Financing Receivable | ||||||||||
Carrying amount | 1,720 | 14,970 | ||||||||
Mortgages | ||||||||||
Accounts, Notes, Loans and Financing Receivable | ||||||||||
Carrying amount | 628,650 | 700,113 | ||||||||
Consumer | ||||||||||
Accounts, Notes, Loans and Financing Receivable | ||||||||||
Carrying amount | 20,552 | 24,373 | ||||||||
Non-credit Impaired Loans | ||||||||||
Accounts, Notes, Loans and Financing Receivable | ||||||||||
Carrying amount | 1,724,180 | [1],[2] | 1,754,613 | 1,898,146 | [2] | 1,972,741 | [1] | 2,022,493 | 2,272,142 | |
Less: Allowance for loan losses | (62,114) | (59,753) | (54,027) | |||||||
Carrying amount, net of allowance | 1,662,066 | 1,838,393 | 1,918,714 | |||||||
Non-credit Impaired Loans | Commercial real estate | ||||||||||
Accounts, Notes, Loans and Financing Receivable | ||||||||||
Carrying amount | 1,023,047 | 1,114,368 | ||||||||
Non-credit Impaired Loans | Commercial and industrial | ||||||||||
Accounts, Notes, Loans and Financing Receivable | ||||||||||
Carrying amount | 78,983 | 84,765 | ||||||||
Non-credit Impaired Loans | Construction | ||||||||||
Accounts, Notes, Loans and Financing Receivable | ||||||||||
Carrying amount | 0 | 8,943 | ||||||||
Non-credit Impaired Loans | Mortgages | ||||||||||
Accounts, Notes, Loans and Financing Receivable | ||||||||||
Carrying amount | 602,697 | 667,023 | ||||||||
Non-credit Impaired Loans | Consumer | ||||||||||
Accounts, Notes, Loans and Financing Receivable | ||||||||||
Carrying amount | 19,453 | 23,047 | ||||||||
Credit Impaired Loans | ||||||||||
Accounts, Notes, Loans and Financing Receivable | ||||||||||
Carrying amount | 43,359 | [1],[2] | $ 45,330 | 76,355 | [2] | 103,271 | [1] | $ 114,585 | $ 172,030 | |
Less: Allowance for loan losses | (7,457) | (3,810) | (10,556) | |||||||
Carrying amount, net of allowance | 35,902 | 72,545 | $ 92,715 | |||||||
Credit Impaired Loans | Commercial real estate | ||||||||||
Accounts, Notes, Loans and Financing Receivable | ||||||||||
Carrying amount | 14,587 | 35,393 | ||||||||
Credit Impaired Loans | Commercial and industrial | ||||||||||
Accounts, Notes, Loans and Financing Receivable | ||||||||||
Carrying amount | 0 | 519 | ||||||||
Credit Impaired Loans | Construction | ||||||||||
Accounts, Notes, Loans and Financing Receivable | ||||||||||
Carrying amount | 1,720 | 6,027 | ||||||||
Credit Impaired Loans | Mortgages | ||||||||||
Accounts, Notes, Loans and Financing Receivable | ||||||||||
Carrying amount | 25,953 | 33,090 | ||||||||
Credit Impaired Loans | Consumer | ||||||||||
Accounts, Notes, Loans and Financing Receivable | ||||||||||
Carrying amount | $ 1,099 | $ 1,326 | ||||||||
[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 $578 million as of September 30, 2016 (September 30, 2015- $655 million). | |||||||||
[2] | 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 $578 million as of September 30, 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 | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Remain Subject To The Loss Sharing Agreement With FDIC | ASC Subtopic 310-30 | |||
Accounts, Notes, Loans and Financing Receivable | |||
Carrying amount | $ 578 | $ 636 | $ 655 |
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 | 9 Months Ended | ||||||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | ||||
Accretable yield | ||||||||
Beginning Balance | $ 1,071,680 | $ 1,245,924 | $ 1,112,458 | $ 1,271,337 | ||||
Accretion | (39,590) | (46,693) | (131,599) | (156,384) | ||||
Change In Expected Cash Flows | 6,602 | (53,782) | 57,833 | 30,496 | ||||
Ending Balance | 1,038,692 | 1,145,449 | 1,038,692 | 1,145,449 | ||||
Carrying amount of loans | ||||||||
Beginning Balance | 1,799,943 | [1] | 2,137,078 | 1,974,501 | [1] | 2,444,172 | ||
Accretion | 39,590 | 46,693 | 131,599 | 156,384 | ||||
Collections | (71,994) | (107,759) | (338,561) | [2] | (524,544) | |||
Ending Balance | [3] | 1,767,539 | [1] | 2,076,012 | 1,767,539 | [1] | 2,076,012 | |
Less: Allowance for loan losses | (69,571) | (64,583) | (69,571) | (64,583) | $ (63,563) | |||
Carrying amount, net of allowance | 1,697,968 | 2,011,429 | 1,697,968 | 2,011,429 | 1,910,938 | |||
Non-credit Impaired Loans | ||||||||
Accretable yield | ||||||||
Beginning Balance | 1,061,971 | 1,239,776 | 1,105,732 | 1,265,752 | ||||
Accretion | (38,597) | (44,568) | (125,734) | (148,572) | ||||
Change In Expected Cash Flows | 6,992 | (56,526) | 50,368 | 21,502 | ||||
Ending Balance | 1,030,366 | 1,138,682 | 1,030,366 | 1,138,682 | ||||
Carrying amount of loans | ||||||||
Beginning Balance | 1,754,613 | [1] | 2,022,493 | 1,898,146 | [1] | 2,272,142 | ||
Accretion | 38,597 | 44,568 | 125,734 | 148,572 | ||||
Collections | (69,030) | (94,320) | (299,700) | [2] | (447,973) | |||
Ending Balance | [3] | 1,724,180 | [1] | 1,972,741 | 1,724,180 | [1] | 1,972,741 | |
Less: Allowance for loan losses | (62,114) | (54,027) | (62,114) | (54,027) | (59,753) | |||
Carrying amount, net of allowance | 1,662,066 | 1,918,714 | 1,662,066 | 1,918,714 | 1,838,393 | |||
Credit Impaired Loans | ||||||||
Accretable yield | ||||||||
Beginning Balance | 9,709 | 6,148 | 6,726 | 5,585 | ||||
Accretion | (993) | (2,125) | (5,865) | (7,812) | ||||
Change In Expected Cash Flows | (390) | 2,744 | 7,465 | 8,994 | ||||
Ending Balance | 8,326 | 6,767 | 8,326 | 6,767 | ||||
Carrying amount of loans | ||||||||
Beginning Balance | 45,330 | [1] | 114,585 | 76,355 | [1] | 172,030 | ||
Accretion | 993 | 2,125 | 5,865 | 7,812 | ||||
Collections | (2,964) | (13,439) | (38,861) | [2] | (76,571) | |||
Ending Balance | [3] | 43,359 | [1] | 103,271 | 43,359 | [1] | 103,271 | |
Less: Allowance for loan losses | (7,457) | (10,556) | (7,457) | (10,556) | (3,810) | |||
Carrying amount, net of allowance | $ 35,902 | $ 92,715 | $ 35,902 | $ 92,715 | $ 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 $578 million as of September 30, 2016 and $636 million as of December 31, 2015. | |||||||
[2] | For the nine months ended September 30, 2016, includes the impact of the bulk sale of loans with a carrying value of approximately $99 million. | |||||||
[3] | 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 $578 million as of September 30, 2016 (September 30, 2015- $655 million). |
Note Loans (Changes in the c106
Note Loans (Changes in the carrying amount and the accretable yield for the acquired loans in the Westernbank FDIC-assisted transaction) (Parenthetical) (Detail) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | |
Westernbank Puerto Rico | Bulk Sale | |||
Accounts, Notes, Loans and Financing Receivable | |||
Loans Sold | $ 100 | ||
ASC Subtopic 310-30 | Westernbank Puerto Rico | Bulk Sale | |||
Accounts, Notes, Loans and Financing Receivable | |||
Loans Sold | 99 | ||
ASC Subtopic 310-30 | Remain Subject To The Loss Sharing Agreement With FDIC | |||
Accounts, Notes, Loans and Financing Receivable | |||
Carrying amount | $ 578 | $ 636 | $ 655 |
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 | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Accretable yield | ||||
Beginning Balance | $ 272,609 | $ 162,159 | $ 221,128 | $ 116,304 |
Additions | 3,809 | 25,978 | 12,320 | 82,046 |
Accretion | (8,689) | (4,543) | (25,974) | (12,399) |
Change In Expected Cash Flows | 8,672 | 1,402 | 68,927 | (955) |
Ending Balance | 276,401 | 184,996 | 276,401 | 184,996 |
Carrying amount of loans | ||||
Beginning Balance | 562,745 | 368,287 | 564,050 | 212,763 |
Purchase accounting adjustments related to the Doral Bank Transaction | (4,707) | 0 | ||
Additions | 8,349 | 281,911 | 26,754 | 456,091 |
Accretion | 8,689 | 4,543 | 25,974 | 12,399 |
Collections | (17,861) | (13,655) | (50,149) | (40,167) |
Ending Balance | 561,922 | 641,086 | 561,922 | 641,086 |
Less: Allowance for loan losses | (18,550) | (18,561) | (18,550) | (18,561) |
Carrying amount, net of allowance | $ 543,372 | $ 622,525 | $ 543,372 | $ 622,525 |
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 | 9 Months Ended | ||||||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | ||||
Accounts, Notes, Loans and Financing Receivable | ||||||||
Commercial Construction Loans Sold | $ 38,000 | $ 9,000 | $ 39,000 | $ 9,000 | ||||
Transfers Of Financial Assets Accounted For As Sale Initial Fair Value Of Assets Obtained As Proceeds | 213,348 | 311,170 | 601,329 | 835,204 | ||||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | 588,211 | 588,211 | $ 646,115 | |||||
GNMA | ||||||||
Accounts, Notes, Loans and Financing Receivable | ||||||||
Transfers Of Financial Assets Accounted For As Sale Initial Fair Value Of Assets Obtained As Proceeds | 161,000 | 251,000 | 465,000 | 651,000 | ||||
FNMA | ||||||||
Accounts, Notes, Loans and Financing Receivable | ||||||||
Transfers Of Financial Assets Accounted For As Sale Initial Fair Value Of Assets Obtained As Proceeds | 50,000 | 57,000 | 129,000 | 174,000 | ||||
Residential Mortgage | ||||||||
Accounts, Notes, Loans and Financing Receivable | ||||||||
Residential Mortgage Loans Sold | 13,000 | 19,000 | 53,000 | 82,000 | ||||
Consumer | ||||||||
Accounts, Notes, Loans and Financing Receivable | ||||||||
Purchase of Loans | 0 | 164,000 | ||||||
Mortgages | ||||||||
Accounts, Notes, Loans and Financing Receivable | ||||||||
Purchase of Loans | 118,000 | $ 91,000 | 358,000 | $ 495,000 | ||||
Commercial Loans | ||||||||
Accounts, Notes, Loans and Financing Receivable | ||||||||
Purchase of Loans | 0 | 51,000 | ||||||
Covered loans | ||||||||
Accounts, Notes, Loans and Financing Receivable | ||||||||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | 588,211 | [1] | 588,211 | [1] | 646,115 | [2] | ||
Covered loans | Consumer | ||||||||
Accounts, Notes, Loans and Financing Receivable | ||||||||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | 16,862 | 16,862 | 19,013 | |||||
Covered loans | Mortgages | ||||||||
Accounts, Notes, Loans and Financing Receivable | ||||||||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | 571,349 | 571,349 | 627,102 | |||||
Westernbank Puerto Rico | Bulk Sale | ||||||||
Accounts, Notes, Loans and Financing Receivable | ||||||||
Loans Sold | 100,000 | |||||||
Westernbank Puerto Rico | ASC Subtopic 310-30 | Bulk Sale | ||||||||
Accounts, Notes, Loans and Financing Receivable | ||||||||
Loans Sold | 99,000 | |||||||
Westernbank Puerto Rico | ASC Subtopic 310-20 | ||||||||
Accounts, Notes, Loans and Financing Receivable | ||||||||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | 10,000 | 10,000 | 10,000 | |||||
Westernbank Puerto Rico | Covered loans | ASC Subtopic 310-30 | Acquired loans in an FDIC assisted transaction | ||||||||
Accounts, Notes, Loans and Financing Receivable | ||||||||
Outstanding principal balance of SOP loans | 2,200,000 | 2,200,000 | 2,400,000 | |||||
SOP Other Loans Acquired | ASC Subtopic 310-30 | ||||||||
Accounts, Notes, Loans and Financing Receivable | ||||||||
Outstanding principal balance of SOP loans | $ 707,000 | $ 707,000 | $ 710,000 | |||||
[1] | Includes $349 million pledged to secure credit facilities at the FHLB which are not permitted to sell or repledge the collateral. | |||||||
[2] | Includes $386 million pledged to secure credit facilities at the FHLB which are not permitted to sell or repledge the collateral. |
Note Allowance for loan losses
Note Allowance for loan losses (Allowance Movement) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |||||
Financing Receivable, Allowance for Credit Losses | |||||||||
Balance at beginning of period | $ 548,720 | $ 550,813 | $ 537,111 | $ 601,792 | |||||
Provision for loan losses | 43,344 | 66,678 | 128,651 | 182,947 | |||||
Charge-offs | (64,241) | (69,241) | (194,813) | (259,059) | |||||
Recoveries | 28,032 | 22,264 | 79,461 | 74,525 | |||||
Net recovery (write-down) | 5,445 | (29,691) | |||||||
Balance at end of period | 555,855 | 570,514 | 555,855 | 570,514 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 129,057 | 156,848 | 129,057 | 156,848 | |||||
General ALLL | 426,798 | 413,666 | 426,798 | 413,666 | |||||
Ending balance: loans individually evaluated for impairment | 938,564 | 974,106 | 938,564 | 974,106 | |||||
Ending balance: loans collectively evaluated for impairment | 22,245,619 | 22,189,388 | 22,245,619 | 22,189,388 | |||||
Non-covered Loans held-in-portfolio | 22,595,972 | [1],[2] | 22,595,972 | [1],[2] | $ 22,346,115 | [3],[4] | |||
Loans covered under loss-sharing agreements with the FDIC | 588,211 | 588,211 | 646,115 | ||||||
Loans And Leases Receivable Covered And Not Covered Total Net Of Unearned Income | 23,184,183 | 23,163,494 | 23,184,183 | 23,163,494 | |||||
Continuing Operations | |||||||||
Financing Receivable, Allowance for Credit Losses | |||||||||
Provision for loan losses | (43,344) | (66,678) | (128,651) | (182,947) | |||||
Covered loans | |||||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Loans covered under loss-sharing agreements with the FDIC | 588,211 | [5] | 588,211 | [5] | 646,115 | [6] | |||
PUERTO RICO | |||||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Non-covered Loans held-in-portfolio | [7] | 17,276,701 | 17,276,701 | 17,570,610 | |||||
PUERTO RICO | Non-covered loans | |||||||||
Financing Receivable, Allowance for Credit Losses | |||||||||
Balance at beginning of period | 480,721 | 482,700 | 469,923 | 489,135 | |||||
Provision for loan losses | 36,281 | 68,755 | 118,503 | 161,197 | |||||
Charge-offs | (57,651) | (64,669) | (179,501) | (178,904) | |||||
Recoveries | 24,692 | 17,424 | 69,673 | 49,741 | |||||
Net recovery (write-down) | 5,445 | (29,996) | |||||||
Allowance Transferred From Covered Loans | 13,037 | ||||||||
Balance at end of period | 484,043 | 504,210 | 484,043 | 504,210 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 126,342 | 155,784 | 126,342 | 155,784 | |||||
General ALLL | 357,701 | 348,426 | 357,701 | 348,426 | |||||
Ending balance: loans individually evaluated for impairment | 927,080 | 965,561 | 927,080 | 965,561 | |||||
Ending balance: loans collectively evaluated for impairment | 16,349,621 | 16,853,079 | 16,349,621 | 16,853,079 | |||||
Non-covered Loans held-in-portfolio | 17,276,701 | 17,818,640 | 17,276,701 | 17,818,640 | |||||
PUERTO RICO | Covered loans | |||||||||
Financing Receivable, Allowance for Credit Losses | |||||||||
Balance at beginning of period | 30,581 | 38,074 | 34,176 | 82,073 | |||||
Provision for loan losses | 750 | (2,890) | (1,551) | 23,200 | |||||
Charge-offs | (1,384) | (866) | (3,095) | (68,560) | |||||
Recoveries | 315 | 191 | 732 | 12,656 | |||||
Net recovery (write-down) | (1,823) | ||||||||
Allowance Transferred To Non Covered Loans | (13,037) | ||||||||
Balance at end of period | 30,262 | 34,509 | 30,262 | 34,509 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 0 | 0 | 0 | 0 | |||||
General ALLL | 30,262 | 34,509 | 30,262 | 34,509 | |||||
Ending balance: loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |||||
Ending balance: loans collectively evaluated for impairment | 588,211 | 665,428 | 588,211 | 665,428 | |||||
Loans covered under loss-sharing agreements with the FDIC | 588,211 | 665,428 | 588,211 | 665,428 | |||||
UNITED STATES | |||||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Non-covered Loans held-in-portfolio | 5,319,271 | 5,319,271 | 4,775,505 | ||||||
UNITED STATES | Non-covered loans | Continuing Operations | |||||||||
Financing Receivable, Allowance for Credit Losses | |||||||||
Balance at beginning of period | 37,418 | 30,039 | 33,012 | 30,584 | |||||
Provision for loan losses | 6,313 | 813 | 11,699 | (1,450) | |||||
Charge-offs | (5,206) | (3,706) | (12,217) | (11,595) | |||||
Recoveries | 3,025 | 4,649 | 9,056 | 12,128 | |||||
Net recovery (write-down) | 2,128 | ||||||||
Balance at end of period | 41,550 | 31,795 | 41,550 | 31,795 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 2,715 | 1,064 | 2,715 | 1,064 | |||||
General ALLL | 38,835 | 30,731 | 38,835 | 30,731 | |||||
Ending balance: loans individually evaluated for impairment | 11,484 | 8,545 | 11,484 | 8,545 | |||||
Ending balance: loans collectively evaluated for impairment | 5,307,787 | 4,670,881 | 5,307,787 | 4,670,881 | |||||
Non-covered Loans held-in-portfolio | 5,319,271 | 4,679,426 | 5,319,271 | 4,679,426 | |||||
Commercial | |||||||||
Financing Receivable, Allowance for Credit Losses | |||||||||
Balance at beginning of period | 209,681 | 215,720 | 196,833 | 242,108 | |||||
Provision for loan losses | 16,511 | 21,954 | 32,281 | 78,598 | |||||
Charge-offs | (13,954) | (17,153) | (48,296) | (88,866) | |||||
Recoveries | 11,928 | 9,940 | 38,979 | 29,718 | |||||
Net recovery (write-down) | 4,369 | (31,097) | |||||||
Balance at end of period | 224,166 | 230,461 | 224,166 | 230,461 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 58,527 | 83,615 | 58,527 | 83,615 | |||||
General ALLL | 165,639 | 146,846 | 165,639 | 146,846 | |||||
Ending balance: loans individually evaluated for impairment | 328,868 | 391,066 | 328,868 | 391,066 | |||||
Ending balance: loans collectively evaluated for impairment | 10,208,312 | 9,739,358 | 10,208,312 | 9,739,358 | |||||
Non-covered Loans held-in-portfolio | 10,537,191 | 10,537,191 | 10,099,163 | ||||||
Loans And Leases Receivable Covered And Not Covered Total Net Of Unearned Income | 10,537,180 | 10,130,424 | 10,537,180 | 10,130,424 | |||||
Commercial | PUERTO RICO | |||||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Non-covered Loans held-in-portfolio | [7] | 7,254,169 | 7,254,169 | 7,368,219 | |||||
Commercial | PUERTO RICO | Non-covered loans | |||||||||
Financing Receivable, Allowance for Credit Losses | |||||||||
Balance at beginning of period | 199,827 | 207,095 | 186,925 | 201,589 | |||||
Provision for loan losses | 13,746 | 23,044 | 30,630 | 71,954 | |||||
Charge-offs | (13,799) | (16,845) | (47,256) | (49,740) | |||||
Recoveries | 10,600 | 7,673 | 35,706 | 18,707 | |||||
Net recovery (write-down) | 4,369 | (29,996) | |||||||
Allowance Transferred From Covered Loans | 8,453 | ||||||||
Balance at end of period | 210,374 | 220,967 | 210,374 | 220,967 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 58,527 | 83,615 | 58,527 | 83,615 | |||||
General ALLL | 151,847 | 137,352 | 151,847 | 137,352 | |||||
Ending balance: loans individually evaluated for impairment | 328,868 | 391,066 | 328,868 | 391,066 | |||||
Ending balance: loans collectively evaluated for impairment | 6,925,290 | 7,130,678 | 6,925,290 | 7,130,678 | |||||
Non-covered Loans held-in-portfolio | 7,254,158 | 7,521,744 | 7,254,158 | 7,521,744 | |||||
Commercial | PUERTO RICO | Covered loans | |||||||||
Financing Receivable, Allowance for Credit Losses | |||||||||
Balance at beginning of period | 0 | 0 | 0 | 30,871 | |||||
Provision for loan losses | 0 | 0 | 0 | 10,115 | |||||
Charge-offs | 0 | 0 | 0 | (37,936) | |||||
Recoveries | 0 | 0 | 0 | 6,504 | |||||
Net recovery (write-down) | (1,101) | ||||||||
Allowance Transferred To Non Covered Loans | (8,453) | ||||||||
Balance at end of period | 0 | 0 | 0 | 0 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 0 | 0 | 0 | 0 | |||||
General ALLL | 0 | 0 | 0 | 0 | |||||
Ending balance: loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |||||
Ending balance: loans collectively evaluated for impairment | 0 | 0 | 0 | 0 | |||||
Loans covered under loss-sharing agreements with the FDIC | 0 | 0 | 0 | 0 | |||||
Commercial | UNITED STATES | |||||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Non-covered Loans held-in-portfolio | 3,283,022 | 3,283,022 | 2,730,944 | ||||||
Commercial | UNITED STATES | Non-covered loans | Continuing Operations | |||||||||
Financing Receivable, Allowance for Credit Losses | |||||||||
Balance at beginning of period | 9,854 | 8,625 | 9,908 | 9,648 | |||||
Provision for loan losses | 2,765 | (1,090) | 1,651 | (3,471) | |||||
Charge-offs | (155) | (308) | (1,040) | (1,190) | |||||
Recoveries | 1,328 | 2,267 | 3,273 | 4,507 | |||||
Net recovery (write-down) | 0 | ||||||||
Balance at end of period | 13,792 | 9,494 | 13,792 | 9,494 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 0 | 0 | 0 | 0 | |||||
General ALLL | 13,792 | 9,494 | 13,792 | 9,494 | |||||
Ending balance: loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |||||
Ending balance: loans collectively evaluated for impairment | 3,283,022 | 2,608,680 | 3,283,022 | 2,608,680 | |||||
Non-covered Loans held-in-portfolio | 3,283,022 | 2,608,680 | 3,283,022 | 2,608,680 | |||||
Construction | |||||||||
Financing Receivable, Allowance for Credit Losses | |||||||||
Balance at beginning of period | 11,065 | 8,987 | 8,869 | 13,872 | |||||
Provision for loan losses | (237) | 3,116 | (1,870) | 17,955 | |||||
Charge-offs | (951) | (451) | (3,026) | (27,731) | |||||
Recoveries | 65 | 3,099 | 5,055 | 11,197 | |||||
Net recovery (write-down) | 914 | (542) | |||||||
Balance at end of period | 9,942 | 14,751 | 9,942 | 14,751 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 0 | 358 | 0 | 358 | |||||
General ALLL | 9,942 | 14,393 | 9,942 | 14,393 | |||||
Ending balance: loans individually evaluated for impairment | 0 | 2,536 | 0 | 2,536 | |||||
Ending balance: loans collectively evaluated for impairment | 731,352 | 689,956 | 731,352 | 689,956 | |||||
Non-covered Loans held-in-portfolio | 731,352 | 731,352 | 681,106 | ||||||
Loans And Leases Receivable Covered And Not Covered Total Net Of Unearned Income | 731,352 | 692,492 | 731,352 | 692,492 | |||||
Construction | PUERTO RICO | |||||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Non-covered Loans held-in-portfolio | 81,054 | 81,054 | 100,948 | ||||||
Construction | PUERTO RICO | Non-covered loans | |||||||||
Financing Receivable, Allowance for Credit Losses | |||||||||
Balance at beginning of period | 3,605 | 6,558 | 4,957 | 5,483 | |||||
Provision for loan losses | (605) | 2,375 | (5,786) | 822 | |||||
Charge-offs | (951) | (451) | (3,026) | (2,645) | |||||
Recoveries | 65 | 3,099 | 5,055 | 6,497 | |||||
Net recovery (write-down) | 914 | 0 | |||||||
Allowance Transferred From Covered Loans | 1,424 | ||||||||
Balance at end of period | 2,114 | 11,581 | 2,114 | 11,581 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 0 | 358 | 0 | 358 | |||||
General ALLL | 2,114 | 11,223 | 2,114 | 11,223 | |||||
Ending balance: loans individually evaluated for impairment | 0 | 2,536 | 0 | 2,536 | |||||
Ending balance: loans collectively evaluated for impairment | 81,054 | 106,142 | 81,054 | 106,142 | |||||
Non-covered Loans held-in-portfolio | 81,054 | 108,678 | 81,054 | 108,678 | |||||
Construction | PUERTO RICO | Covered loans | |||||||||
Financing Receivable, Allowance for Credit Losses | |||||||||
Balance at beginning of period | 0 | 0 | 0 | 7,202 | |||||
Provision for loan losses | 0 | 0 | 0 | 15,150 | |||||
Charge-offs | 0 | 0 | 0 | (25,086) | |||||
Recoveries | 0 | 0 | 0 | 4,700 | |||||
Net recovery (write-down) | (542) | ||||||||
Allowance Transferred To Non Covered Loans | (1,424) | ||||||||
Balance at end of period | 0 | 0 | 0 | 0 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 0 | 0 | 0 | 0 | |||||
General ALLL | 0 | 0 | 0 | 0 | |||||
Ending balance: loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |||||
Ending balance: loans collectively evaluated for impairment | 0 | 0 | 0 | 0 | |||||
Loans covered under loss-sharing agreements with the FDIC | 0 | 0 | 0 | 0 | |||||
Construction | UNITED STATES | |||||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Non-covered Loans held-in-portfolio | 650,298 | 650,298 | 580,158 | ||||||
Construction | UNITED STATES | Non-covered loans | Continuing Operations | |||||||||
Financing Receivable, Allowance for Credit Losses | |||||||||
Balance at beginning of period | 7,460 | 2,429 | 3,912 | 1,187 | |||||
Provision for loan losses | 368 | 741 | 3,916 | 1,983 | |||||
Charge-offs | 0 | 0 | 0 | 0 | |||||
Recoveries | 0 | 0 | 0 | 0 | |||||
Net recovery (write-down) | 0 | ||||||||
Balance at end of period | 7,828 | 3,170 | 7,828 | 3,170 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 0 | 0 | 0 | 0 | |||||
General ALLL | 7,828 | 3,170 | 7,828 | 3,170 | |||||
Ending balance: loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |||||
Ending balance: loans collectively evaluated for impairment | 650,298 | 583,814 | 650,298 | 583,814 | |||||
Non-covered Loans held-in-portfolio | 650,298 | 583,814 | 650,298 | 583,814 | |||||
Mortgages | |||||||||
Financing Receivable, Allowance for Credit Losses | |||||||||
Balance at beginning of period | 171,437 | 167,762 | 167,279 | 164,270 | |||||
Provision for loan losses | 16,066 | 17,984 | 50,325 | 41,108 | |||||
Charge-offs | (18,997) | (17,821) | (51,597) | (44,621) | |||||
Recoveries | 1,157 | 909 | 3,656 | 2,708 | |||||
Net recovery (write-down) | 0 | 5,369 | |||||||
Balance at end of period | 169,663 | 168,834 | 169,663 | 168,834 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 45,557 | 47,545 | 45,557 | 47,545 | |||||
General ALLL | 124,106 | 121,289 | 124,106 | 121,289 | |||||
Ending balance: loans individually evaluated for impairment | 496,868 | 462,806 | 496,868 | 462,806 | |||||
Ending balance: loans collectively evaluated for impairment | 6,848,988 | 7,348,336 | 6,848,988 | 7,348,336 | |||||
Non-covered Loans held-in-portfolio | 6,774,497 | 6,774,497 | 7,036,081 | ||||||
Loans And Leases Receivable Covered And Not Covered Total Net Of Unearned Income | 7,345,856 | 7,811,142 | 7,345,856 | 7,811,142 | |||||
Mortgages | Covered loans | |||||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Loans covered under loss-sharing agreements with the FDIC | 571,349 | 571,349 | 627,102 | ||||||
Mortgages | PUERTO RICO | |||||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Non-covered Loans held-in-portfolio | [7] | 5,964,838 | 5,964,838 | 6,127,491 | |||||
Mortgages | PUERTO RICO | Non-covered loans | |||||||||
Financing Receivable, Allowance for Credit Losses | |||||||||
Balance at beginning of period | 136,724 | 126,177 | 128,327 | 120,860 | |||||
Provision for loan losses | 13,841 | 19,412 | 50,398 | 45,359 | |||||
Charge-offs | (16,002) | (16,263) | (45,924) | (38,597) | |||||
Recoveries | 765 | 739 | 2,527 | 1,861 | |||||
Net recovery (write-down) | 0 | 0 | |||||||
Allowance Transferred From Covered Loans | 582 | ||||||||
Balance at end of period | 135,328 | 130,065 | 135,328 | 130,065 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 43,567 | 46,956 | 43,567 | 46,956 | |||||
General ALLL | 91,761 | 83,109 | 91,761 | 83,109 | |||||
Ending balance: loans individually evaluated for impairment | 487,972 | 457,631 | 487,972 | 457,631 | |||||
Ending balance: loans collectively evaluated for impairment | 5,476,876 | 5,762,764 | 5,476,876 | 5,762,764 | |||||
Non-covered Loans held-in-portfolio | 5,964,848 | 6,220,395 | 5,964,848 | 6,220,395 | |||||
Mortgages | PUERTO RICO | Covered loans | |||||||||
Financing Receivable, Allowance for Credit Losses | |||||||||
Balance at beginning of period | 29,951 | 37,815 | 33,967 | 40,948 | |||||
Provision for loan losses | 845 | (2,880) | (1,476) | (1,812) | |||||
Charge-offs | (973) | (790) | (3,078) | (4,695) | |||||
Recoveries | 312 | 189 | 722 | 635 | |||||
Net recovery (write-down) | (160) | ||||||||
Allowance Transferred To Non Covered Loans | (582) | ||||||||
Balance at end of period | 30,135 | 34,334 | 30,135 | 34,334 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 0 | 0 | 0 | 0 | |||||
General ALLL | 30,135 | 34,334 | 30,135 | 34,334 | |||||
Ending balance: loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |||||
Ending balance: loans collectively evaluated for impairment | 571,349 | 645,663 | 571,349 | 645,663 | |||||
Loans covered under loss-sharing agreements with the FDIC | 571,349 | 645,663 | 571,349 | 645,663 | |||||
Mortgages | UNITED STATES | |||||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Non-covered Loans held-in-portfolio | 809,659 | 809,659 | 908,590 | ||||||
Mortgages | UNITED STATES | Non-covered loans | Continuing Operations | |||||||||
Financing Receivable, Allowance for Credit Losses | |||||||||
Balance at beginning of period | 4,762 | 3,770 | 4,985 | 2,462 | |||||
Provision for loan losses | 1,380 | 1,452 | 1,403 | (2,439) | |||||
Charge-offs | (2,022) | (768) | (2,595) | (1,329) | |||||
Recoveries | 80 | (19) | 407 | 212 | |||||
Net recovery (write-down) | 5,529 | ||||||||
Balance at end of period | 4,200 | 4,435 | 4,200 | 4,435 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 1,990 | 589 | 1,990 | 589 | |||||
General ALLL | 2,210 | 3,846 | 2,210 | 3,846 | |||||
Ending balance: loans individually evaluated for impairment | 8,896 | 5,175 | 8,896 | 5,175 | |||||
Ending balance: loans collectively evaluated for impairment | 800,763 | 939,909 | 800,763 | 939,909 | |||||
Non-covered Loans held-in-portfolio | 809,659 | 945,084 | 809,659 | 945,084 | |||||
Legacy | |||||||||
Financing Receivable, Allowance for Credit Losses | |||||||||
Balance at beginning of period | 1,852 | 3,315 | 2,687 | 2,944 | |||||
Provision for loan losses | (690) | (1,113) | (2,665) | (2,540) | |||||
Charge-offs | (145) | (804) | (388) | (1,758) | |||||
Recoveries | 665 | 1,407 | 2,048 | 4,159 | |||||
Net recovery (write-down) | 0 | 0 | |||||||
Balance at end of period | 1,682 | 2,805 | 1,682 | 2,805 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 0 | 0 | 0 | 0 | |||||
General ALLL | 1,682 | 2,805 | 1,682 | 2,805 | |||||
Ending balance: loans individually evaluated for impairment | 0 | 1,188 | 0 | 1,188 | |||||
Ending balance: loans collectively evaluated for impairment | 47,914 | 66,786 | 47,914 | 66,786 | |||||
Non-covered Loans held-in-portfolio | [8] | 47,914 | 47,914 | 64,436 | |||||
Loans And Leases Receivable Covered And Not Covered Total Net Of Unearned Income | 47,914 | 67,974 | 47,914 | 67,974 | |||||
Legacy | UNITED STATES | |||||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Non-covered Loans held-in-portfolio | 47,914 | 47,914 | 64,436 | ||||||
Legacy | UNITED STATES | Non-covered loans | Continuing Operations | |||||||||
Financing Receivable, Allowance for Credit Losses | |||||||||
Balance at beginning of period | 1,852 | 3,315 | 2,687 | 2,944 | |||||
Provision for loan losses | (690) | (1,113) | (2,665) | (2,540) | |||||
Charge-offs | (145) | (804) | (388) | (1,758) | |||||
Recoveries | 665 | 1,407 | 2,048 | 4,159 | |||||
Net recovery (write-down) | 0 | ||||||||
Balance at end of period | 1,682 | 2,805 | 1,682 | 2,805 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 0 | 0 | 0 | 0 | |||||
General ALLL | 1,682 | 2,805 | 1,682 | 2,805 | |||||
Ending balance: loans individually evaluated for impairment | 0 | 1,188 | 0 | 1,188 | |||||
Ending balance: loans collectively evaluated for impairment | 47,914 | 66,786 | 47,914 | 66,786 | |||||
Non-covered Loans held-in-portfolio | 47,914 | 67,974 | 47,914 | 67,974 | |||||
Leasing | |||||||||
Financing Receivable, Allowance for Credit Losses | |||||||||
Balance at beginning of period | 10,094 | 9,160 | 10,993 | 7,131 | |||||
Provision for loan losses | (1,363) | 825 | (190) | 4,596 | |||||
Charge-offs | (1,429) | (1,485) | (4,435) | (4,415) | |||||
Recoveries | 613 | 591 | 1,547 | 1,779 | |||||
Net recovery (write-down) | 0 | 0 | |||||||
Balance at end of period | 7,915 | 9,091 | 7,915 | 9,091 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 540 | 634 | 540 | 634 | |||||
General ALLL | 7,375 | 8,457 | 7,375 | 8,457 | |||||
Ending balance: loans individually evaluated for impairment | 1,899 | 2,645 | 1,899 | 2,645 | |||||
Ending balance: loans collectively evaluated for impairment | 680,911 | 604,282 | 680,911 | 604,282 | |||||
Non-covered Loans held-in-portfolio | 682,810 | 682,810 | 627,650 | ||||||
Loans And Leases Receivable Covered And Not Covered Total Net Of Unearned Income | 682,810 | 606,927 | 682,810 | 606,927 | |||||
Leasing | PUERTO RICO | |||||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Non-covered Loans held-in-portfolio | [7] | 682,810 | 682,810 | 627,650 | |||||
Leasing | PUERTO RICO | Non-covered loans | |||||||||
Financing Receivable, Allowance for Credit Losses | |||||||||
Balance at beginning of period | 10,094 | 9,160 | 10,993 | 7,131 | |||||
Provision for loan losses | (1,363) | 825 | (190) | 4,596 | |||||
Charge-offs | (1,429) | (1,485) | (4,435) | (4,415) | |||||
Recoveries | 613 | 591 | 1,547 | 1,779 | |||||
Net recovery (write-down) | 0 | 0 | |||||||
Allowance Transferred From Covered Loans | 0 | ||||||||
Balance at end of period | 7,915 | 9,091 | 7,915 | 9,091 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 540 | 634 | 540 | 634 | |||||
General ALLL | 7,375 | 8,457 | 7,375 | 8,457 | |||||
Ending balance: loans individually evaluated for impairment | 1,899 | 2,645 | 1,899 | 2,645 | |||||
Ending balance: loans collectively evaluated for impairment | 680,911 | 604,282 | 680,911 | 604,282 | |||||
Non-covered Loans held-in-portfolio | 682,810 | 606,927 | 682,810 | 606,927 | |||||
Leasing | PUERTO RICO | Covered loans | |||||||||
Financing Receivable, Allowance for Credit Losses | |||||||||
Balance at beginning of period | 0 | 0 | 0 | 0 | |||||
Provision for loan losses | 0 | 0 | 0 | 0 | |||||
Charge-offs | 0 | 0 | 0 | 0 | |||||
Recoveries | 0 | 0 | 0 | 0 | |||||
Net recovery (write-down) | 0 | ||||||||
Allowance Transferred To Non Covered Loans | 0 | ||||||||
Balance at end of period | 0 | 0 | 0 | 0 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 0 | 0 | 0 | 0 | |||||
General ALLL | 0 | 0 | 0 | 0 | |||||
Ending balance: loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |||||
Ending balance: loans collectively evaluated for impairment | 0 | 0 | 0 | 0 | |||||
Loans covered under loss-sharing agreements with the FDIC | 0 | 0 | 0 | 0 | |||||
Consumer | |||||||||
Financing Receivable, Allowance for Credit Losses | |||||||||
Balance at beginning of period | 144,591 | 145,869 | 150,450 | 171,467 | |||||
Provision for loan losses | 13,057 | 23,912 | 50,770 | 43,230 | |||||
Charge-offs | (28,765) | (31,527) | (87,071) | (91,668) | |||||
Recoveries | 13,604 | 6,318 | 28,176 | 24,964 | |||||
Net recovery (write-down) | 162 | (3,421) | |||||||
Balance at end of period | 142,487 | 144,572 | 142,487 | 144,572 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 24,433 | 24,696 | 24,433 | 24,696 | |||||
General ALLL | 118,054 | 119,876 | 118,054 | 119,876 | |||||
Ending balance: loans individually evaluated for impairment | 110,929 | 113,865 | 110,929 | 113,865 | |||||
Ending balance: loans collectively evaluated for impairment | 3,728,142 | 3,740,670 | 3,728,142 | 3,740,670 | |||||
Non-covered Loans held-in-portfolio | 3,822,208 | 3,822,208 | 3,837,679 | ||||||
Loans And Leases Receivable Covered And Not Covered Total Net Of Unearned Income | 3,839,071 | 3,854,535 | 3,839,071 | 3,854,535 | |||||
Consumer | Covered loans | |||||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Loans covered under loss-sharing agreements with the FDIC | 16,862 | 16,862 | 19,013 | ||||||
Consumer | PUERTO RICO | |||||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Non-covered Loans held-in-portfolio | [7] | 3,293,830 | 3,293,830 | 3,346,302 | |||||
Consumer | PUERTO RICO | Non-covered loans | |||||||||
Financing Receivable, Allowance for Credit Losses | |||||||||
Balance at beginning of period | 130,471 | 133,710 | 138,721 | 154,072 | |||||
Provision for loan losses | 10,662 | 23,099 | 43,451 | 38,466 | |||||
Charge-offs | (25,470) | (29,625) | (78,860) | (83,507) | |||||
Recoveries | 12,649 | 5,322 | 24,838 | 20,897 | |||||
Net recovery (write-down) | 162 | 0 | |||||||
Allowance Transferred From Covered Loans | 2,578 | ||||||||
Balance at end of period | 128,312 | 132,506 | 128,312 | 132,506 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 23,708 | 24,221 | 23,708 | 24,221 | |||||
General ALLL | 104,604 | 108,285 | 104,604 | 108,285 | |||||
Ending balance: loans individually evaluated for impairment | 108,341 | 111,683 | 108,341 | 111,683 | |||||
Ending balance: loans collectively evaluated for impairment | 3,185,490 | 3,249,213 | 3,185,490 | 3,249,213 | |||||
Non-covered Loans held-in-portfolio | 3,293,831 | 3,360,896 | 3,293,831 | 3,360,896 | |||||
Consumer | PUERTO RICO | Covered loans | |||||||||
Financing Receivable, Allowance for Credit Losses | |||||||||
Balance at beginning of period | 630 | 259 | 209 | 3,052 | |||||
Provision for loan losses | (95) | (10) | (75) | (253) | |||||
Charge-offs | (411) | (76) | (17) | (843) | |||||
Recoveries | 3 | 2 | 10 | 817 | |||||
Net recovery (write-down) | (20) | ||||||||
Allowance Transferred To Non Covered Loans | (2,578) | ||||||||
Balance at end of period | 127 | 175 | 127 | 175 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 0 | 0 | 0 | 0 | |||||
General ALLL | 127 | 175 | 127 | 175 | |||||
Ending balance: loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |||||
Ending balance: loans collectively evaluated for impairment | 16,862 | 19,765 | 16,862 | 19,765 | |||||
Loans covered under loss-sharing agreements with the FDIC | 16,862 | 19,765 | 16,862 | 19,765 | |||||
Consumer | UNITED STATES | |||||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Non-covered Loans held-in-portfolio | 528,378 | 528,378 | $ 491,377 | ||||||
Consumer | UNITED STATES | Non-covered loans | Continuing Operations | |||||||||
Financing Receivable, Allowance for Credit Losses | |||||||||
Balance at beginning of period | 13,490 | 11,900 | 11,520 | 14,343 | |||||
Provision for loan losses | 2,490 | 823 | 7,394 | 5,017 | |||||
Charge-offs | (2,884) | (1,826) | (8,194) | (7,318) | |||||
Recoveries | 952 | 994 | 3,328 | 3,250 | |||||
Net recovery (write-down) | (3,401) | ||||||||
Balance at end of period | 14,048 | 11,891 | 14,048 | 11,891 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 725 | 475 | 725 | 475 | |||||
General ALLL | 13,323 | 11,416 | 13,323 | 11,416 | |||||
Ending balance: loans individually evaluated for impairment | 2,588 | 2,182 | 2,588 | 2,182 | |||||
Ending balance: loans collectively evaluated for impairment | 525,790 | 471,692 | 525,790 | 471,692 | |||||
Non-covered Loans held-in-portfolio | $ 528,378 | $ 473,874 | $ 528,378 | $ 473,874 | |||||
[1] | Includes $7.4 billion pledged to secure credit facilities and public funds that the secured parties are not permitted to sell or repledge the collateral, of which $4.6 billion were pledged at the FHLB as collateral for borrowings, $2.3 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 $118 million in unearned income and exclude $72 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] | Includes $349 million pledged to secure credit facilities at the FHLB which are not permitted to sell or repledge the collateral. | ||||||||
[6] | Includes $386 million pledged to secure credit facilities at the FHLB which are not permitted to sell or repledge the collateral. | ||||||||
[7] | Excludes covered loans acquired in the Westernbank FDIC-assisted transaction. | ||||||||
[8] | The legacy portfolio is comprised of commercial loans, construction loans and lease financings related to certain lending products exited by the Corporation as part of restructuring efforts carried out in prior years at the BPNA segment. |
Note Allowance for loan loss111
Note Allowance for loan losses (Activity in Allowance for Loan Losses Related to ASC 310-30 Acquired Loans) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Accounts, Notes, Loans and Financing Receivable | ||||
Balance at beginning of period | $ 548,720 | $ 550,813 | $ 537,111 | $ 601,792 |
Provision for loan losses | (43,344) | (66,678) | (128,651) | (182,947) |
Balance at end of period | 555,855 | 570,514 | 555,855 | 570,514 |
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 | 66,995 | 47,049 | 63,563 | 78,846 |
Provision for loan losses | 6,710 | 17,201 | 2,640 | 38,071 |
Net recoveries (charge-offs) | (4,134) | 333 | 3,368 | (52,334) |
Balance at end of period | $ 69,571 | $ 64,583 | $ 69,571 | $ 64,583 |
Note Allowance for loan loss112
Note Allowance for loan losses (Disclosures related to loans individually evaluated for impairment) (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Impaired | ||
Related Allowance | $ 129,057 | $ 118,072 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 96,148 | 118,406 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 842,416 | 807,380 |
Recorded Investment | 938,564 | 925,786 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 129,032 | 170,520 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 928,672 | 881,819 |
Unpaid Principal Balance | 1,057,704 | 1,052,339 |
PUERTO RICO | ||
Financing Receivable, Impaired | ||
Related Allowance | 126,342 | 116,523 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 93,613 | 114,870 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 833,467 | 801,925 |
Recorded Investment | 927,080 | 916,795 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 126,497 | 166,082 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 918,775 | 875,471 |
Unpaid Principal Balance | 1,045,272 | 1,041,553 |
UNITED STATES | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 2,715 | 1,549 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 2,535 | 3,536 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 8,949 | 5,455 |
Recorded Investment | 11,484 | 8,991 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 2,535 | 4,438 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 9,897 | 6,348 |
Unpaid Principal Balance | 12,432 | 10,786 |
Commercial multi-family | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 46 | |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 0 | |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 85 | |
Recorded Investment | 85 | |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 0 | |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 85 | |
Unpaid Principal Balance | 85 | |
Commercial multi-family | PUERTO RICO | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 46 | |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 0 | |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 85 | |
Recorded Investment | 85 | |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 0 | |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 85 | |
Unpaid Principal Balance | 85 | |
CRE non-owner occupied | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 36,192 | 30,980 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 11,063 | 13,779 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 110,625 | 102,199 |
Recorded Investment | 121,688 | 115,978 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 20,294 | 23,896 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 115,037 | 106,466 |
Unpaid Principal Balance | 135,331 | 130,362 |
CRE non-owner occupied | PUERTO RICO | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 36,192 | 30,980 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 11,063 | 13,779 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 110,625 | 102,199 |
Recorded Investment | 121,688 | 115,978 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 20,294 | 23,896 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 115,037 | 106,466 |
Unpaid Principal Balance | 135,331 | 130,362 |
CRE owner occupied | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 16,239 | 12,564 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 17,837 | 38,955 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 134,733 | 118,253 |
Recorded Investment | 152,570 | 157,208 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 27,259 | 63,383 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 171,882 | 137,193 |
Unpaid Principal Balance | 199,141 | 200,576 |
CRE owner occupied | PUERTO RICO | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 16,239 | 12,564 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 17,837 | 38,955 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 134,733 | 118,253 |
Recorded Investment | 152,570 | 157,208 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 27,259 | 63,383 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 171,882 | 137,193 |
Unpaid Principal Balance | 199,141 | 200,576 |
Commercial and industrial | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 6,050 | 5,699 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 7,815 | 21,904 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 46,710 | 42,043 |
Recorded Investment | 54,525 | 63,947 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 11,466 | 32,922 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 47,996 | 43,629 |
Unpaid Principal Balance | 59,462 | 76,551 |
Commercial and industrial | PUERTO RICO | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 6,050 | 5,699 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 7,815 | 21,904 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 46,710 | 42,043 |
Recorded Investment | 54,525 | 63,947 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 11,466 | 32,922 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 47,996 | 43,629 |
Unpaid Principal Balance | 59,462 | 76,551 |
Construction | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 264 | |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 0 | |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 2,481 | |
Recorded Investment | 2,481 | |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 0 | |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 7,878 | |
Unpaid Principal Balance | 7,878 | |
Construction | PUERTO RICO | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 0 | 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 | 0 | 2,481 |
Recorded Investment | 0 | 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 | 0 | 7,878 |
Unpaid Principal Balance | 0 | 7,878 |
Mortgages | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 45,557 | 44,029 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 59,433 | 42,904 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 437,435 | 429,028 |
Recorded Investment | 496,868 | 471,932 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 70,013 | 49,455 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 480,844 | 473,258 |
Unpaid Principal Balance | 550,857 | 522,713 |
Mortgages | PUERTO RICO | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 43,567 | 42,965 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 56,898 | 40,232 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 431,074 | 424,885 |
Recorded Investment | 487,972 | 465,117 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 67,478 | 45,881 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 473,535 | 468,240 |
Unpaid Principal Balance | 541,013 | 514,121 |
Mortgages | UNITED STATES | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 1,990 | 1,064 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 2,535 | 2,672 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 6,361 | 4,143 |
Recorded Investment | 8,896 | 6,815 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 2,535 | 3,574 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 7,309 | 5,018 |
Unpaid Principal Balance | 9,844 | 8,592 |
Leasing | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 540 | 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 | 1,899 | 2,404 |
Recorded Investment | 1,899 | 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 | 1,899 | 2,404 |
Unpaid Principal Balance | 1,899 | 2,404 |
Leasing | PUERTO RICO | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 540 | 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 | 1,899 | 2,404 |
Recorded Investment | 1,899 | 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 | 1,899 | 2,404 |
Unpaid Principal Balance | 1,899 | 2,404 |
Consumer | Credit cards | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 5,862 | 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 | 38,485 | 38,734 |
Recorded Investment | 38,485 | 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 | 38,485 | 38,734 |
Unpaid Principal Balance | 38,485 | 38,734 |
Consumer | Credit cards | PUERTO RICO | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 5,862 | 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 | 38,485 | 38,734 |
Recorded Investment | 38,485 | 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 | 38,485 | 38,734 |
Unpaid Principal Balance | 38,485 | 38,734 |
Consumer | Home equity lines of credit | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 464 | 259 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 0 | 783 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 1,879 | 778 |
Recorded Investment | 1,879 | 1,561 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 0 | 783 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 1,879 | 796 |
Unpaid Principal Balance | 1,879 | 1,579 |
Consumer | Home equity lines of credit | UNITED STATES | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 464 | 259 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 0 | 783 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 1,879 | 778 |
Recorded Investment | 1,879 | 1,561 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 0 | 783 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 1,879 | 796 |
Unpaid Principal Balance | 1,879 | 1,579 |
Consumer | Personal | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 17,462 | 16,591 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 0 | 81 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 67,413 | 69,043 |
Recorded Investment | 67,413 | 69,124 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 0 | 81 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 67,413 | 69,043 |
Unpaid Principal Balance | 67,413 | 69,124 |
Consumer | Personal | PUERTO RICO | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 17,201 | 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 | 66,704 | 68,509 |
Recorded Investment | 66,704 | 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 | 66,704 | 68,509 |
Unpaid Principal Balance | 66,704 | 68,509 |
Consumer | Personal | UNITED STATES | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 261 | 226 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 0 | 81 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 709 | 534 |
Recorded Investment | 709 | 615 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 0 | 81 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 709 | 534 |
Unpaid Principal Balance | 709 | 615 |
Consumer | Auto | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 356 | 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 | 2,122 | 1,893 |
Recorded Investment | 2,122 | 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 | 2,122 | 1,893 |
Unpaid Principal Balance | 2,122 | 1,893 |
Consumer | Auto | PUERTO RICO | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 356 | 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 | 2,122 | 1,893 |
Recorded Investment | 2,122 | 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 | 2,122 | 1,893 |
Unpaid Principal Balance | 2,122 | 1,893 |
Consumer | Other | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 289 | 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 | 1,030 | 524 |
Recorded Investment | 1,030 | 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 | 1,030 | 525 |
Unpaid Principal Balance | 1,030 | 525 |
Consumer | Other | PUERTO RICO | Non Covered Loans | ||
Financing Receivable, Impaired | ||
Related Allowance | 289 | 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 | 1,030 | 524 |
Recorded Investment | 1,030 | 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 | 1,030 | 525 |
Unpaid Principal Balance | $ 1,030 | $ 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 | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Financing Receivable, Impaired | ||||
Average Recorded Investment | $ 936,967 | $ 944,969 | $ 933,591 | $ 957,949 |
Interest Income Recognized | 6,843 | 6,766 | 20,234 | 22,434 |
Covered loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 4,409 | |||
Interest Income Recognized | 253 | |||
Commercial multi-family | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 43 | 1,239 | 21 | 757 |
Interest Income Recognized | 1 | 23 | 4 | 23 |
CRE non-owner occupied | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 140,083 | 121,842 | 129,372 | 105,308 |
Interest Income Recognized | 1,345 | 1,191 | 3,971 | 3,339 |
CRE owner occupied | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 136,565 | 140,054 | 147,305 | 134,011 |
Interest Income Recognized | 1,408 | 1,094 | 4,349 | 3,591 |
Commercial and industrial | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 55,685 | 101,187 | 58,518 | 135,720 |
Interest Income Recognized | 483 | 978 | 1,466 | 3,155 |
Construction | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 518 | 3,082 | 1,384 | 7,317 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
Mortgages | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 490,797 | 459,320 | 483,154 | 451,269 |
Interest Income Recognized | 3,606 | 3,480 | 10,444 | 12,073 |
Legacy | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 1,273 | 636 | ||
Interest Income Recognized | 0 | 0 | ||
Leasing | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 2,005 | 2,600 | 2,201 | 2,787 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
Consumer | Credit cards | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 38,431 | 39,893 | 38,344 | 40,615 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
Consumer | Home equity lines of credit | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 1,883 | 1,608 | 1,741 | 1,685 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
Consumer | Personal | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 67,728 | 70,174 | 68,256 | 70,810 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
Consumer | Auto | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 2,501 | 2,083 | 2,689 | 2,033 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
Consumer | Other | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 728 | 614 | 606 | 592 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
PUERTO RICO | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 925,703 | 936,423 | 923,172 | 950,268 |
Interest Income Recognized | 6,775 | 6,732 | 20,101 | 22,371 |
PUERTO RICO | Covered loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 4,409 | |||
Interest Income Recognized | 253 | |||
PUERTO RICO | Commercial multi-family | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 43 | 1,239 | 21 | 757 |
Interest Income Recognized | 1 | 23 | 4 | 23 |
PUERTO RICO | CRE non-owner occupied | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 140,083 | 121,842 | 129,372 | 105,308 |
Interest Income Recognized | 1,345 | 1,191 | 3,971 | 3,339 |
PUERTO RICO | CRE owner occupied | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 136,565 | 140,054 | 147,305 | 134,011 |
Interest Income Recognized | 1,408 | 1,094 | 4,349 | 3,591 |
PUERTO RICO | Commercial and industrial | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 55,685 | 101,187 | 58,518 | 135,657 |
Interest Income Recognized | 483 | 978 | 1,466 | 3,155 |
PUERTO RICO | Construction | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 518 | 3,082 | 1,384 | 7,317 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
PUERTO RICO | Mortgages | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 482,067 | 454,210 | 475,108 | 446,374 |
Interest Income Recognized | 3,538 | 3,446 | 10,311 | 12,010 |
PUERTO RICO | Legacy | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 0 | 0 | ||
Interest Income Recognized | 0 | 0 | ||
PUERTO RICO | Leasing | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 2,005 | 2,600 | 2,201 | 2,787 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
PUERTO RICO | Consumer | Credit cards | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 38,431 | 39,893 | 38,344 | 40,615 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
PUERTO RICO | Consumer | Home equity lines of credit | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 0 | 0 | 0 | 0 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
PUERTO RICO | Consumer | Personal | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 67,077 | 69,619 | 67,624 | 70,430 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
PUERTO RICO | Consumer | Auto | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 2,501 | 2,083 | 2,689 | 2,033 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
PUERTO RICO | Consumer | Other | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 728 | 614 | 606 | 570 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
UNITED STATES | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 11,264 | 8,546 | 10,419 | 7,681 |
Interest Income Recognized | 68 | 34 | 133 | 63 |
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 | 0 | 0 | 0 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
UNITED STATES | CRE non-owner occupied | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 0 | 0 | 0 | 0 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
UNITED STATES | CRE owner occupied | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 0 | 0 | 0 | 0 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
UNITED STATES | Commercial and industrial | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 0 | 0 | 0 | 63 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
UNITED STATES | Construction | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 0 | 0 | 0 | 0 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
UNITED STATES | Mortgages | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 8,730 | 5,110 | 8,046 | 4,895 |
Interest Income Recognized | 68 | 34 | 133 | 63 |
UNITED STATES | Legacy | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 1,273 | 636 | ||
Interest Income Recognized | 0 | 0 | ||
UNITED STATES | Leasing | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 0 | 0 | 0 | 0 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
UNITED STATES | Consumer | Credit cards | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 0 | 0 | 0 | 0 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
UNITED STATES | Consumer | Home equity lines of credit | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 1,883 | 1,608 | 1,741 | 1,685 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
UNITED STATES | Consumer | Personal | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 651 | 555 | 632 | 380 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
UNITED STATES | Consumer | Auto | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 0 | 0 | 0 | 0 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
UNITED STATES | Consumer | Other | Non Covered Loans | ||||
Financing Receivable, Impaired | ||||
Average Recorded Investment | 0 | 0 | 0 | 22 |
Interest Income Recognized | $ 0 | $ 0 | $ 0 | $ 0 |
Note Allowance for loan loss114
Note Allowance for loan losses (Troubled debt restructuring according to their accruing status) (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Troubled Debt Restructuring | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | $ 129,057 | $ 156,848 | |
Commercial | |||
Troubled Debt Restructuring | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 58,527 | 83,615 | |
Construction | |||
Troubled Debt Restructuring | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | 358 | |
Mortgages | |||
Troubled Debt Restructuring | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 45,557 | 47,545 | |
Leasing | |||
Troubled Debt Restructuring | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 540 | 634 | |
Consumer | |||
Troubled Debt Restructuring | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 24,433 | $ 24,696 | |
Non Covered Loans | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 1,209,121 | $ 1,151,343 | |
Non Covered Loans | TDR | |||
Troubled Debt Restructuring | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 126,974 | 106,184 | |
Non Covered Loans | Commercial | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 248,253 | 254,532 | |
Non Covered Loans | Commercial | TDR | |||
Troubled Debt Restructuring | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 56,444 | 37,355 | |
Non Covered Loans | Construction | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 0 | 2,480 | |
Non Covered Loans | Construction | TDR | |||
Troubled Debt Restructuring | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | 264 | |
Non Covered Loans | Mortgages | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 844,675 | 774,496 | |
Non Covered Loans | Mortgages | TDR | |||
Troubled Debt Restructuring | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 45,557 | 44,029 | |
Non Covered Loans | Leasing | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 1,899 | 2,400 | |
Non Covered Loans | Leasing | TDR | |||
Troubled Debt Restructuring | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 540 | 573 | |
Non Covered Loans | Consumer | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 114,294 | 117,435 | |
Non Covered Loans | Consumer | TDR | |||
Troubled Debt Restructuring | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 24,433 | 23,963 | |
Covered loans | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 5,369 | 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 | 5,369 | 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 | 220,518 | 234,273 | |
Non-Accruing | Non Covered Loans | Commercial | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 84,872 | 88,117 | |
Non-Accruing | Non Covered Loans | Construction | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 0 | 2,259 | |
Non-Accruing | Non Covered Loans | Mortgages | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 122,225 | 130,483 | |
Non-Accruing | Non Covered Loans | Leasing | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 603 | 609 | |
Non-Accruing | Non Covered Loans | Consumer | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 12,818 | 12,805 | |
Non-Accruing | Covered loans | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 2,336 | 3,268 | |
Non-Accruing | Covered loans | Mortgages | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 2,336 | 3,268 | |
Accruing | Non Covered Loans | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 988,603 | 917,070 | |
Accruing | Non Covered Loans | Commercial | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 163,381 | 166,415 | |
Accruing | Non Covered Loans | Construction | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 0 | 221 | |
Accruing | Non Covered Loans | Mortgages | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 722,450 | 644,013 | |
Accruing | Non Covered Loans | Leasing | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 1,296 | 1,791 | |
Accruing | Non Covered Loans | Consumer | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 101,476 | 104,630 | |
Accruing | Covered loans | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | 3,033 | 3,328 | |
Accruing | Covered loans | Mortgages | |||
Troubled Debt Restructuring | |||
Troubled debt restructurings | $ 3,033 | $ 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 | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 502 | 547 | 1,511 | 1,549 |
Extension of Maturity Date | 35 | 35 | 93 | 124 |
Combination Interest Rate Reduction Maturity Date Extension | 140 | 102 | 388 | 310 |
Other Modifications | 203 | 227 | 668 | 618 |
Commercial multi-family | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 0 | 0 | 0 | 0 |
Extension of Maturity Date | 0 | 0 | 0 | 2 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 | 0 | 0 |
Other Modifications | 0 | 0 | 0 | 0 |
CRE non-owner occupied | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 3 | 1 | 5 | 6 |
Extension of Maturity Date | 0 | 2 | 1 | 10 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 | 0 | 0 |
Other Modifications | 0 | 0 | 0 | 0 |
CRE owner occupied | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 9 | 12 | 38 | 22 |
Extension of Maturity Date | 0 | 5 | 5 | 14 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 | 0 | 0 |
Other Modifications | 0 | 0 | 0 | 0 |
Commercial and industrial | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 8 | 7 | 22 | 18 |
Extension of Maturity Date | 0 | 4 | 1 | 15 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 | 0 | 0 |
Other Modifications | 0 | 0 | 0 | 0 |
Construction | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 0 | 0 | 0 | 1 |
Extension of Maturity Date | 0 | 1 | 0 | 1 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 | 0 | 0 |
Other Modifications | 0 | 0 | 0 | 0 |
Mortgages | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 17 | 12 | 55 | 41 |
Extension of Maturity Date | 24 | 9 | 58 | 40 |
Combination Interest Rate Reduction Maturity Date Extension | 134 | 100 | 376 | 291 |
Other Modifications | 43 | 39 | 133 | 77 |
Legacy | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 0 | 0 | 0 | 0 |
Extension of Maturity Date | 0 | 0 | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 | 0 | 0 |
Other Modifications | 0 | 0 | 0 | 0 |
Leasing | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 0 | 0 | 0 | 0 |
Extension of Maturity Date | 1 | 5 | 1 | 7 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 1 | 0 | 15 |
Other Modifications | 0 | 0 | 0 | 0 |
Credit cards | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 218 | 235 | 603 | 657 |
Extension of Maturity Date | 0 | 0 | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 1 | 0 | 1 | 0 |
Other Modifications | 158 | 187 | 531 | 538 |
Home equity lines of credit | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 0 | 0 | 0 | 0 |
Extension of Maturity Date | 0 | 0 | 0 | 1 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 1 | 2 | 1 |
Other Modifications | 0 | 0 | 1 | 2 |
Personal | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 241 | 267 | 761 | 769 |
Extension of Maturity Date | 6 | 6 | 16 | 26 |
Combination Interest Rate Reduction Maturity Date Extension | 1 | 0 | 1 | 0 |
Other Modifications | 0 | 1 | 1 | 1 |
Auto | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 0 | 0 | 0 | 0 |
Extension of Maturity Date | 4 | 3 | 11 | 8 |
Combination Interest Rate Reduction Maturity Date Extension | 4 | 0 | 8 | 3 |
Other Modifications | 2 | 0 | 2 | 0 |
Other | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 6 | 13 | 27 | 35 |
Extension of Maturity Date | 0 | 0 | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 | 0 | 0 |
Other Modifications | 0 | 0 | 0 | 0 |
PUERTO RICO | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 502 | 547 | 1,511 | 1,549 |
Extension of Maturity Date | 31 | 35 | 89 | 120 |
Combination Interest Rate Reduction Maturity Date Extension | 134 | 97 | 362 | 295 |
Other Modifications | 203 | 226 | 666 | 615 |
PUERTO RICO | Commercial multi-family | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 0 | 0 | 0 | 0 |
Extension of Maturity Date | 0 | 0 | 0 | 2 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 | 0 | 0 |
Other Modifications | 0 | 0 | 0 | 0 |
PUERTO RICO | CRE non-owner occupied | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 3 | 1 | 5 | 6 |
Extension of Maturity Date | 0 | 2 | 1 | 10 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 | 0 | 0 |
Other Modifications | 0 | 0 | 0 | 0 |
PUERTO RICO | CRE owner occupied | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 9 | 12 | 38 | 22 |
Extension of Maturity Date | 0 | 5 | 5 | 14 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 | 0 | 0 |
Other Modifications | 0 | 0 | 0 | 0 |
PUERTO RICO | Commercial and industrial | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 8 | 7 | 22 | 18 |
Extension of Maturity Date | 0 | 4 | 1 | 15 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 | 0 | 0 |
Other Modifications | 0 | 0 | 0 | 0 |
PUERTO RICO | Construction | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 0 | 0 | 0 | 1 |
Extension of Maturity Date | 0 | 1 | 0 | 1 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 | 0 | 0 |
Other Modifications | 0 | 0 | 0 | 0 |
PUERTO RICO | Mortgages | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 17 | 12 | 55 | 41 |
Extension of Maturity Date | 22 | 9 | 56 | 39 |
Combination Interest Rate Reduction Maturity Date Extension | 129 | 96 | 353 | 277 |
Other Modifications | 43 | 38 | 132 | 76 |
PUERTO RICO | Leasing | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 0 | 0 | 0 | 0 |
Extension of Maturity Date | 1 | 5 | 1 | 7 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 1 | 0 | 15 |
Other Modifications | 0 | 0 | 0 | 0 |
PUERTO RICO | Credit cards | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 218 | 235 | 603 | 657 |
Extension of Maturity Date | 0 | 0 | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 1 | 0 | 1 | 0 |
Other Modifications | 158 | 187 | 531 | 538 |
PUERTO RICO | Home equity lines of credit | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 0 | 0 | 0 | 0 |
Extension of Maturity Date | 0 | 0 | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 | 0 | 0 |
Other Modifications | 0 | 0 | 0 | 0 |
PUERTO RICO | Personal | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 241 | 267 | 761 | 769 |
Extension of Maturity Date | 4 | 6 | 14 | 24 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 | 0 | 0 |
Other Modifications | 0 | 1 | 1 | 1 |
PUERTO RICO | Auto | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 0 | 0 | 0 | 0 |
Extension of Maturity Date | 4 | 3 | 11 | 8 |
Combination Interest Rate Reduction Maturity Date Extension | 4 | 0 | 8 | 3 |
Other Modifications | 2 | 0 | 2 | 0 |
PUERTO RICO | Other | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 6 | 13 | 27 | 35 |
Extension of Maturity Date | 0 | 0 | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 | 0 | 0 |
Other Modifications | 0 | 0 | 0 | 0 |
UNITED STATES | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 0 | 0 | 0 | 0 |
Extension of Maturity Date | 4 | 0 | 4 | 4 |
Combination Interest Rate Reduction Maturity Date Extension | 6 | 5 | 26 | 15 |
Other Modifications | 0 | 1 | 2 | 3 |
UNITED STATES | Commercial multi-family | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 0 | 0 | 0 | 0 |
Extension of Maturity Date | 0 | 0 | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 | 0 | 0 |
Other Modifications | 0 | 0 | 0 | 0 |
UNITED STATES | CRE non-owner occupied | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 0 | 0 | 0 | 0 |
Extension of Maturity Date | 0 | 0 | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 | 0 | 0 |
Other Modifications | 0 | 0 | 0 | 0 |
UNITED STATES | CRE owner occupied | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 0 | 0 | 0 | 0 |
Extension of Maturity Date | 0 | 0 | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 | 0 | 0 |
Other Modifications | 0 | 0 | 0 | 0 |
UNITED STATES | Commercial and industrial | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 0 | 0 | 0 | 0 |
Extension of Maturity Date | 0 | 0 | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 | 0 | 0 |
Other Modifications | 0 | 0 | 0 | 0 |
UNITED STATES | Construction | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 0 | 0 | 0 | 0 |
Extension of Maturity Date | 0 | 0 | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 | 0 | 0 |
Other Modifications | 0 | 0 | 0 | 0 |
UNITED STATES | Mortgages | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 0 | 0 | 0 | 0 |
Extension of Maturity Date | 2 | 0 | 2 | 1 |
Combination Interest Rate Reduction Maturity Date Extension | 5 | 4 | 23 | 14 |
Other Modifications | 0 | 1 | 1 | 1 |
UNITED STATES | Legacy | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 0 | 0 | 0 | 0 |
Extension of Maturity Date | 0 | 0 | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 | 0 | 0 |
Other Modifications | 0 | 0 | 0 | 0 |
UNITED STATES | Credit cards | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 0 | 0 | 0 | 0 |
Extension of Maturity Date | 0 | 0 | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 | 0 | 0 |
Other Modifications | 0 | 0 | 0 | 0 |
UNITED STATES | Home equity lines of credit | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 0 | 0 | 0 | 0 |
Extension of Maturity Date | 0 | 0 | 0 | 1 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 1 | 2 | 1 |
Other Modifications | 0 | 0 | 1 | 2 |
UNITED STATES | Personal | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 0 | 0 | 0 | 0 |
Extension of Maturity Date | 2 | 0 | 2 | 2 |
Combination Interest Rate Reduction Maturity Date Extension | 1 | 0 | 1 | 0 |
Other Modifications | 0 | 0 | 0 | 0 |
UNITED STATES | Auto | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 0 | 0 | 0 | 0 |
Extension of Maturity Date | 0 | 0 | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 | 0 | 0 |
Other Modifications | 0 | 0 | 0 | 0 |
UNITED STATES | Other | ||||
Troubled Debt Restructuring | ||||
Reduction In Interest Rate | 0 | 0 | 0 | 0 |
Extension of Maturity Date | 0 | 0 | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 | 0 | 0 |
Other Modifications | 0 | 0 | 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 | 9 Months Ended | ||
Sep. 30, 2016USD ($)loans | Sep. 30, 2015USD ($)loans | Sep. 30, 2016USD ($)loans | Sep. 30, 2015USD ($)loans | |
Troubled Debt Restructuring | ||||
Loan count | loans | 880 | 911 | 2,660 | 2,601 |
Pre-Modification Recorded Investment | $ 34,706 | $ 38,337 | $ 116,180 | $ 169,650 |
Post Modification Recorded Investment | 38,375 | 39,357 | 118,553 | 178,327 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 4,134 | $ 3,388 | $ 15,656 | $ 23,685 |
Commercial multi-family | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 0 | 0 | 2 |
Pre-Modification Recorded Investment | $ 0 | $ 0 | $ 0 | $ 551 |
Post Modification Recorded Investment | 0 | 0 | 0 | 551 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ 0 | $ 0 | $ 2 |
CRE non-owner occupied | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 3 | 3 | 6 | 16 |
Pre-Modification Recorded Investment | $ 469 | $ 775 | $ 6,989 | $ 67,494 |
Post Modification Recorded Investment | 3,085 | 769 | 9,589 | 67,635 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 860 | $ 33 | $ 5,029 | $ 13,701 |
CRE owner occupied | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 9 | 17 | 43 | 36 |
Pre-Modification Recorded Investment | $ 773 | $ 2,830 | $ 11,623 | $ 12,620 |
Post Modification Recorded Investment | 1,874 | 2,654 | 11,648 | 11,690 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 136 | $ (3) | $ 473 | $ 330 |
Commercial and industrial | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 8 | 11 | 23 | 33 |
Pre-Modification Recorded Investment | $ 246 | $ 7,970 | $ 3,832 | $ 20,337 |
Post Modification Recorded Investment | 301 | 8,386 | 3,884 | 21,272 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 21 | $ 10 | $ 1 | $ 672 |
Construction | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 1 | 0 | 2 |
Pre-Modification Recorded Investment | $ 0 | $ 40 | $ 0 | $ 308 |
Post Modification Recorded Investment | 0 | 39 | 0 | 298 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ (4) | $ 0 | $ (170) |
Mortgages | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 218 | 160 | 622 | 449 |
Pre-Modification Recorded Investment | $ 25,255 | $ 18,515 | $ 69,591 | $ 43,356 |
Post Modification Recorded Investment | 24,681 | 18,740 | 67,702 | 50,309 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 1,780 | $ 1,676 | $ 5,407 | $ 4,151 |
Legacy | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 0 | 0 | 0 |
Pre-Modification Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Post Modification Recorded Investment | 0 | 0 | 0 | 0 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ 0 | $ 0 | $ 0 |
Leasing | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 1 | 6 | 1 | 22 |
Pre-Modification Recorded Investment | $ 15 | $ 135 | $ 15 | $ 557 |
Post Modification Recorded Investment | 15 | 132 | 15 | 556 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 3 | $ 30 | $ 3 | $ 126 |
Credit cards | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 377 | 422 | 1,135 | 1,195 |
Pre-Modification Recorded Investment | $ 3,321 | $ 3,485 | $ 10,352 | $ 10,367 |
Post Modification Recorded Investment | 3,715 | 3,994 | 11,768 | 11,747 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 450 | $ 583 | $ 1,677 | $ 1,780 |
Home equity lines of credit | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 1 | 3 | 4 |
Pre-Modification Recorded Investment | $ 0 | $ 123 | $ 355 | $ 197 |
Post Modification Recorded Investment | 0 | 128 | 398 | 295 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ 54 | $ 216 | $ 79 |
Personal | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 248 | 274 | 779 | 796 |
Pre-Modification Recorded Investment | $ 4,481 | $ 4,393 | $ 13,089 | $ 13,676 |
Post Modification Recorded Investment | 4,547 | 4,440 | 13,195 | 13,719 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 853 | $ 992 | $ 2,784 | $ 2,971 |
Auto | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 10 | 3 | 21 | 11 |
Pre-Modification Recorded Investment | $ 123 | $ 41 | $ 256 | $ 101 |
Post Modification Recorded Investment | 134 | 45 | 274 | 158 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 27 | $ 12 | $ 52 | $ 29 |
Other | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 6 | 13 | 27 | 35 |
Pre-Modification Recorded Investment | $ 23 | $ 30 | $ 78 | $ 86 |
Post Modification Recorded Investment | 23 | 30 | 80 | 97 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 4 | $ 5 | $ 14 | $ 14 |
PUERTO RICO | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 870 | 905 | 2,628 | 2,579 |
Pre-Modification Recorded Investment | $ 34,055 | $ 37,788 | $ 113,213 | $ 168,342 |
Post Modification Recorded Investment | 37,629 | 38,775 | 115,346 | 175,890 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 3,979 | $ 3,148 | $ 14,652 | $ 23,238 |
PUERTO RICO | Commercial multi-family | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 0 | 0 | 2 |
Pre-Modification Recorded Investment | $ 0 | $ 0 | $ 0 | $ 551 |
Post Modification Recorded Investment | 0 | 0 | 0 | 551 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ 0 | $ 0 | $ 2 |
PUERTO RICO | CRE non-owner occupied | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 3 | 3 | 6 | 16 |
Pre-Modification Recorded Investment | $ 469 | $ 775 | $ 6,989 | $ 67,494 |
Post Modification Recorded Investment | 3,085 | 769 | 9,589 | 67,635 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 860 | $ 33 | $ 5,029 | $ 13,701 |
PUERTO RICO | CRE owner occupied | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 9 | 17 | 43 | 36 |
Pre-Modification Recorded Investment | $ 773 | $ 2,830 | $ 11,623 | $ 12,620 |
Post Modification Recorded Investment | 1,874 | 2,654 | 11,648 | 11,690 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 136 | $ (3) | $ 473 | $ 330 |
PUERTO RICO | Commercial and industrial | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 8 | 11 | 23 | 33 |
Pre-Modification Recorded Investment | $ 246 | $ 7,970 | $ 3,832 | $ 20,337 |
Post Modification Recorded Investment | 301 | 8,386 | 3,884 | 21,272 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 21 | $ 10 | $ 1 | $ 672 |
PUERTO RICO | Construction | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 1 | 0 | 2 |
Pre-Modification Recorded Investment | $ 0 | $ 40 | $ 0 | $ 308 |
Post Modification Recorded Investment | 0 | 39 | 0 | 298 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ (4) | $ 0 | $ (170) |
PUERTO RICO | Mortgages | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 211 | 155 | 596 | 433 |
Pre-Modification Recorded Investment | $ 24,718 | $ 18,089 | $ 67,093 | $ 42,275 |
Post Modification Recorded Investment | 24,054 | 18,286 | 65,012 | 48,197 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 1,646 | $ 1,490 | $ 4,640 | $ 3,786 |
PUERTO RICO | Leasing | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 1 | 6 | 1 | 22 |
Pre-Modification Recorded Investment | $ 15 | $ 135 | $ 15 | $ 557 |
Post Modification Recorded Investment | 15 | 132 | 15 | 556 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 3 | $ 30 | $ 3 | $ 126 |
PUERTO RICO | Credit cards | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 377 | 422 | 1,135 | 1,195 |
Pre-Modification Recorded Investment | $ 3,321 | $ 3,485 | $ 10,352 | $ 10,367 |
Post Modification Recorded Investment | 3,715 | 3,994 | 11,768 | 11,747 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 450 | $ 583 | $ 1,677 | $ 1,780 |
PUERTO RICO | Home equity lines of credit | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 0 | 0 | 0 |
Pre-Modification Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Post Modification Recorded Investment | 0 | 0 | 0 | 0 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ 0 | $ 0 | $ 0 |
PUERTO RICO | Personal | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 245 | 274 | 776 | 794 |
Pre-Modification Recorded Investment | $ 4,367 | $ 4,393 | $ 12,975 | $ 13,646 |
Post Modification Recorded Investment | 4,428 | 4,440 | 13,076 | 13,689 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 832 | $ 992 | $ 2,763 | $ 2,968 |
PUERTO RICO | Auto | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 10 | 3 | 21 | 11 |
Pre-Modification Recorded Investment | $ 123 | $ 41 | $ 256 | $ 101 |
Post Modification Recorded Investment | 134 | 45 | 274 | 158 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 27 | $ 12 | $ 52 | $ 29 |
PUERTO RICO | Other | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 6 | 13 | 27 | 35 |
Pre-Modification Recorded Investment | $ 23 | $ 30 | $ 78 | $ 86 |
Post Modification Recorded Investment | 23 | 30 | 80 | 97 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 4 | $ 5 | $ 14 | $ 14 |
UNITED STATES | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 10 | 6 | 32 | 22 |
Pre-Modification Recorded Investment | $ 651 | $ 549 | $ 2,967 | $ 1,308 |
Post Modification Recorded Investment | 746 | 582 | 3,207 | 2,437 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 155 | $ 240 | $ 1,004 | $ 447 |
UNITED STATES | Commercial multi-family | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 0 | 0 | 0 |
Pre-Modification Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Post Modification Recorded Investment | 0 | 0 | 0 | 0 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ 0 | $ 0 | $ 0 |
UNITED STATES | CRE non-owner occupied | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 0 | 0 | 0 |
Pre-Modification Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Post Modification Recorded Investment | 0 | 0 | 0 | 0 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ 0 | $ 0 | $ 0 |
UNITED STATES | CRE owner occupied | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 0 | 0 | 0 |
Pre-Modification Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Post Modification Recorded Investment | 0 | 0 | 0 | 0 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ 0 | $ 0 | $ 0 |
UNITED STATES | Commercial and industrial | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 0 | 0 | 0 |
Pre-Modification Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Post Modification Recorded Investment | 0 | 0 | 0 | 0 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ 0 | $ 0 | $ 0 |
UNITED STATES | Construction | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 0 | 0 | 0 |
Pre-Modification Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Post Modification Recorded Investment | 0 | 0 | 0 | 0 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ 0 | $ 0 | $ 0 |
UNITED STATES | Mortgages | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 7 | 5 | 26 | 16 |
Pre-Modification Recorded Investment | $ 537 | $ 426 | $ 2,498 | $ 1,081 |
Post Modification Recorded Investment | 627 | 454 | 2,690 | 2,112 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 134 | $ 186 | $ 767 | $ 365 |
UNITED STATES | Legacy | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 0 | 0 | 0 |
Pre-Modification Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Post Modification Recorded Investment | 0 | 0 | 0 | 0 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ 0 | $ 0 | $ 0 |
UNITED STATES | Credit cards | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 0 | 0 | 0 |
Pre-Modification Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Post Modification Recorded Investment | 0 | 0 | 0 | 0 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ 0 | $ 0 | $ 0 |
UNITED STATES | Home equity lines of credit | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 1 | 3 | 4 |
Pre-Modification Recorded Investment | $ 0 | $ 123 | $ 355 | $ 197 |
Post Modification Recorded Investment | 0 | 128 | 398 | 295 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ 54 | $ 216 | $ 79 |
UNITED STATES | Personal | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 3 | 0 | 3 | 2 |
Pre-Modification Recorded Investment | $ 114 | $ 0 | $ 114 | $ 30 |
Post Modification Recorded Investment | 119 | 0 | 119 | 30 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 21 | $ 0 | $ 21 | $ 3 |
UNITED STATES | Auto | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 0 | 0 | 0 |
Pre-Modification Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Post Modification Recorded Investment | 0 | 0 | 0 | 0 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ 0 | $ 0 | $ 0 |
UNITED STATES | Other | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 0 | 0 | 0 |
Pre-Modification Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Post Modification Recorded Investment | 0 | 0 | 0 | 0 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ 0 | $ 0 | $ 0 |
Note Allowance for loan loss117
Note Allowance for loan losses (T D R that subsequently defaulted) (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016USD ($)loans | Sep. 30, 2015USD ($)loans | Sep. 30, 2016USD ($)loans | Sep. 30, 2015USD ($)loans | |
Troubled Debt Restructuring | ||||
Loan count | loans | 209 | 211 | 478 | 466 |
Recorded investment as of first default date | $ | $ 8,720 | $ 7,037 | $ 23,304 | $ 18,411 |
Commercial multi-family | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 0 | 0 | 0 |
Recorded investment as of first default date | $ | $ 0 | $ 0 | $ 0 | $ 0 |
CRE non-owner occupied | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 0 | 2 | 0 |
Recorded investment as of first default date | $ | $ 0 | $ 0 | $ 327 | $ 0 |
CRE owner occupied | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 3 | 0 | 10 | 1 |
Recorded investment as of first default date | $ | $ 773 | $ 0 | $ 3,276 | $ 291 |
Commercial and industrial | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 3 | 3 | 5 | 5 |
Recorded investment as of first default date | $ | $ 758 | $ 521 | $ 785 | $ 675 |
Construction | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 0 | 0 | 2 |
Recorded investment as of first default date | $ | $ 0 | $ 0 | $ 0 | $ 1,192 |
Mortgages | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 52 | 52 | 132 | 86 |
Recorded investment as of first default date | $ | $ 5,409 | $ 4,302 | $ 14,132 | $ 11,727 |
Legacy | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 0 | 0 | 0 |
Recorded investment as of first default date | $ | $ 0 | $ 0 | $ 0 | $ 0 |
Leasing | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 1 | 4 | 7 |
Recorded investment as of first default date | $ | $ 0 | $ 68 | $ 29 | $ 170 |
Credit cards | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 109 | 124 | 221 | 314 |
Recorded investment as of first default date | $ | $ 1,084 | $ 1,444 | $ 2,259 | $ 3,238 |
Home equity lines of credit | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 0 | 0 | 0 |
Recorded investment as of first default date | $ | $ 0 | $ 0 | $ 0 | $ 0 |
Personal | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 34 | 29 | 93 | 42 |
Recorded investment as of first default date | $ | $ 623 | $ 669 | $ 2,375 | $ 990 |
Auto | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 3 | 2 | 6 | 9 |
Recorded investment as of first default date | $ | $ 63 | $ 33 | $ 111 | $ 128 |
Other | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 5 | 0 | 5 | 0 |
Recorded investment as of first default date | $ | $ 10 | $ 0 | $ 10 | $ 0 |
PUERTO RICO | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 209 | 210 | 478 | 465 |
Recorded investment as of first default date | $ | $ 8,720 | $ 6,943 | $ 23,304 | $ 18,317 |
PUERTO RICO | Commercial multi-family | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 0 | 0 | 0 |
Recorded investment as of first default date | $ | $ 0 | $ 0 | $ 0 | $ 0 |
PUERTO RICO | CRE non-owner occupied | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 0 | 2 | 0 |
Recorded investment as of first default date | $ | $ 0 | $ 0 | $ 327 | $ 0 |
PUERTO RICO | CRE owner occupied | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 3 | 0 | 10 | 1 |
Recorded investment as of first default date | $ | $ 773 | $ 0 | $ 3,276 | $ 291 |
PUERTO RICO | Commercial and industrial | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 3 | 3 | 5 | 5 |
Recorded investment as of first default date | $ | $ 758 | $ 521 | $ 785 | $ 675 |
PUERTO RICO | Construction | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 0 | 0 | 2 |
Recorded investment as of first default date | $ | $ 0 | $ 0 | $ 0 | $ 1,192 |
PUERTO RICO | Mortgages | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 52 | 51 | 132 | 85 |
Recorded investment as of first default date | $ | $ 5,409 | $ 4,208 | $ 14,132 | $ 11,633 |
PUERTO RICO | Leasing | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 1 | 4 | 7 |
Recorded investment as of first default date | $ | $ 0 | $ 68 | $ 29 | $ 170 |
PUERTO RICO | Credit cards | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 109 | 124 | 221 | 314 |
Recorded investment as of first default date | $ | $ 1,084 | $ 1,444 | $ 2,259 | $ 3,238 |
PUERTO RICO | Home equity lines of credit | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 0 | 0 | 0 |
Recorded investment as of first default date | $ | $ 0 | $ 0 | $ 0 | $ 0 |
PUERTO RICO | Personal | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 34 | 29 | 93 | 42 |
Recorded investment as of first default date | $ | $ 623 | $ 669 | $ 2,375 | $ 990 |
PUERTO RICO | Auto | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 3 | 2 | 6 | 9 |
Recorded investment as of first default date | $ | $ 63 | $ 33 | $ 111 | $ 128 |
PUERTO RICO | Other | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 5 | 0 | 5 | 0 |
Recorded investment as of first default date | $ | $ 10 | $ 0 | $ 10 | $ 0 |
UNITED STATES | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 1 | 0 | 1 |
Recorded investment as of first default date | $ | $ 0 | $ 94 | $ 0 | $ 94 |
UNITED STATES | Commercial multi-family | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 0 | 0 | 0 |
Recorded investment as of first default date | $ | $ 0 | $ 0 | $ 0 | $ 0 |
UNITED STATES | CRE non-owner occupied | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 0 | 0 | 0 |
Recorded investment as of first default date | $ | $ 0 | $ 0 | $ 0 | $ 0 |
UNITED STATES | CRE owner occupied | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 0 | 0 | 0 |
Recorded investment as of first default date | $ | $ 0 | $ 0 | $ 0 | $ 0 |
UNITED STATES | Commercial and industrial | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 0 | 0 | 0 |
Recorded investment as of first default date | $ | $ 0 | $ 0 | $ 0 | $ 0 |
UNITED STATES | Construction | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 0 | 0 | 0 |
Recorded investment as of first default date | $ | $ 0 | $ 0 | $ 0 | $ 0 |
UNITED STATES | Mortgages | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 1 | 0 | 1 |
Recorded investment as of first default date | $ | $ 0 | $ 94 | $ 0 | $ 94 |
UNITED STATES | Legacy | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 0 | 0 | 0 |
Recorded investment as of first default date | $ | $ 0 | $ 0 | $ 0 | $ 0 |
UNITED STATES | Credit cards | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 0 | 0 | 0 |
Recorded investment as of first default date | $ | $ 0 | $ 0 | $ 0 | $ 0 |
UNITED STATES | Home equity lines of credit | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 0 | 0 | 0 |
Recorded investment as of first default date | $ | $ 0 | $ 0 | $ 0 | $ 0 |
UNITED STATES | Personal | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 0 | 0 | 0 |
Recorded investment as of first default date | $ | $ 0 | $ 0 | $ 0 | $ 0 |
UNITED STATES | Auto | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 0 | 0 | 0 |
Recorded investment as of first default date | $ | $ 0 | $ 0 | $ 0 | $ 0 |
UNITED STATES | Other | ||||
Troubled Debt Restructuring | ||||
Loan count | loans | 0 | 0 | 0 | 0 |
Recorded investment as of first default date | $ | $ 0 | $ 0 | $ 0 | $ 0 |
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 | Sep. 30, 2016USD ($) | Dec. 31, 2015USD ($) | |||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 22,595,972 | [1],[2] | $ 22,346,115 | [3],[4] | |
Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 864,146 | 949,996 | |||
Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 674,548 | 782,019 | |||
Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 1,516,787 | 1,626,819 | |||
Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 2,604 | 2,605 | |||
Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 3,669 | 3,868 | |||
Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 3,061,754 | 3,365,307 | |||
Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 19,534,218 | 18,980,808 | |||
Commercial multi-family | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 1,122,699 | 826,079 | |||
Commercial multi-family | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 6,741 | 15,879 | |||
Commercial multi-family | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 7,545 | 8,469 | |||
Commercial multi-family | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 7,140 | 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 | 21,426 | 32,878 | |||
Commercial multi-family | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 1,101,273 | 793,201 | |||
CRE non-owner occupied | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 3,824,449 | 3,632,115 | |||
CRE non-owner occupied | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 377,024 | 377,014 | |||
CRE non-owner occupied | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 392,310 | 429,836 | |||
CRE non-owner occupied | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 374,237 | 415,722 | |||
CRE non-owner occupied | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 210 | 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 | 1,143,781 | 1,222,572 | |||
CRE non-owner occupied | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 2,680,668 | 2,409,543 | |||
CRE owner occupied | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 2,079,678 | 2,111,588 | |||
CRE owner occupied | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 321,793 | 328,057 | |||
CRE owner occupied | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 138,969 | 163,469 | |||
CRE owner occupied | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 389,631 | 439,409 | |||
CRE owner occupied | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 1,600 | 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 | 851,993 | 932,850 | |||
CRE owner occupied | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 1,227,685 | 1,178,738 | |||
Commercial and industrial | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 3,510,365 | 3,529,381 | |||
Commercial and industrial | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 152,707 | 198,447 | |||
Commercial and industrial | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 121,808 | 151,560 | |||
Commercial and industrial | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 391,832 | 388,754 | |||
Commercial and industrial | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 794 | 690 | |||
Commercial and industrial | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 14 | 29 | |||
Commercial and industrial | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 667,155 | 739,480 | |||
Commercial and industrial | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 2,843,210 | 2,789,901 | |||
Commercial | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 10,537,191 | 10,099,163 | |||
Commercial | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 858,265 | 919,397 | |||
Commercial | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 660,632 | 753,334 | |||
Commercial | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 1,162,840 | 1,252,415 | |||
Commercial | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 2,604 | 2,605 | |||
Commercial | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 14 | 29 | |||
Commercial | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 2,684,355 | 2,927,780 | |||
Commercial | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 7,852,836 | 7,171,383 | |||
Construction | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 731,352 | 681,106 | |||
Construction | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 25 | 22,360 | |||
Construction | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 9,267 | 22,470 | |||
Construction | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 46,170 | 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 | 55,462 | 83,492 | |||
Construction | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 675,890 | 597,614 | |||
Mortgages | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 6,774,497 | 7,036,081 | |||
Mortgages | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 3,769 | 4,810 | |||
Mortgages | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 2,923 | 2,794 | |||
Mortgages | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 227,263 | 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 | 233,955 | 259,143 | |||
Mortgages | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 6,540,542 | 6,776,938 | |||
Legacy | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [5] | 47,914 | 64,436 | ||
Legacy | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 981 | 1,823 | |||
Legacy | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 837 | 1,973 | |||
Legacy | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 4,768 | 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 | 6,586 | 9,930 | |||
Legacy | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 41,328 | 54,506 | |||
Leasing | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 682,810 | 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 | 2,878 | 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 | 0 | 0 | |||
Leasing | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 2,878 | 3,009 | |||
Leasing | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 679,932 | 624,641 | |||
Consumer | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 3,822,208 | 3,837,679 | |||
Consumer | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 1,106 | 1,606 | |||
Consumer | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 889 | 1,448 | |||
Consumer | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 72,868 | 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 | 3,655 | 3,839 | |||
Consumer | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 78,518 | 81,953 | |||
Consumer | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 3,743,690 | 3,755,726 | |||
Credit cards | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 1,106,030 | 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 | 18,268 | 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 | 18,268 | 19,098 | |||
Credit cards | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 1,087,762 | 1,123,182 | |||
Home equity lines of credit | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 271,833 | 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 | 1,933 | 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 | 2,798 | 2,626 | |||
Home equity lines of credit | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 4,731 | 4,570 | |||
Home equity lines of credit | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 267,102 | 310,602 | |||
Personal | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 1,437,170 | 1,375,461 | |||
Personal | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 1,106 | 1,606 | |||
Personal | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 889 | 1,448 | |||
Personal | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 23,355 | 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 | 569 | 603 | |||
Personal | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 25,919 | 27,410 | |||
Personal | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 1,411,251 | 1,348,051 | |||
Auto | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 828,836 | 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 | 12,073 | 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 | 136 | 30 | |||
Auto | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 12,209 | 11,639 | |||
Auto | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 816,627 | 804,339 | |||
Other | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 178,339 | 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 | 17,239 | 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 | 152 | 580 | |||
Other | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 17,391 | 19,236 | |||
Other | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 160,948 | 169,552 | |||
PUERTO RICO | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 17,276,701 | 17,570,610 | ||
PUERTO RICO | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 789,199 | 838,698 | ||
PUERTO RICO | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 658,363 | 742,750 | ||
PUERTO RICO | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 1,282,547 | 1,434,132 | ||
PUERTO RICO | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 2,604 | 2,605 | ||
PUERTO RICO | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 302 | 634 | ||
PUERTO RICO | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 2,733,015 | 3,018,819 | ||
PUERTO RICO | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 14,543,686 | 14,551,791 | ||
PUERTO RICO | Commercial multi-family | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 176,501 | 132,146 | ||
PUERTO RICO | Commercial multi-family | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 2,751 | 1,750 | ||
PUERTO RICO | Commercial multi-family | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 992 | 1,280 | ||
PUERTO RICO | Commercial multi-family | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 6,445 | $ 8,103 | ||
Weighted average obligor risk rating | [6] | 11.14 | 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] | 10,188 | 11,133 | ||
PUERTO RICO | Commercial multi-family | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 166,313 | $ 121,013 | ||
Weighted average obligor risk rating | [6] | 5.91 | 6.04 | ||
PUERTO RICO | CRE non-owner occupied | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 2,598,451 | $ 2,669,092 | ||
PUERTO RICO | CRE non-owner occupied | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 317,867 | 319,564 | ||
PUERTO RICO | CRE non-owner occupied | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 392,113 | 423,095 | ||
PUERTO RICO | CRE non-owner occupied | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 369,350 | $ 399,076 | ||
Weighted average obligor risk rating | [6] | 11.07 | 11.09 | ||
PUERTO RICO | CRE non-owner occupied | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 210 | $ 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] | 1,079,540 | 1,141,735 | ||
PUERTO RICO | CRE non-owner occupied | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 1,518,911 | $ 1,527,357 | ||
Weighted average obligor risk rating | [6] | 6.89 | 6.67 | ||
PUERTO RICO | CRE owner occupied | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 1,842,197 | $ 1,909,244 | ||
PUERTO RICO | CRE owner occupied | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 315,009 | 316,079 | ||
PUERTO RICO | CRE owner occupied | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 138,969 | 162,395 | ||
PUERTO RICO | CRE owner occupied | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 379,828 | $ 436,442 | ||
Weighted average obligor risk rating | [6] | 11.27 | 11.23 | ||
PUERTO RICO | CRE owner occupied | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 1,600 | $ 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] | 835,406 | 916,831 | ||
PUERTO RICO | CRE owner occupied | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 1,006,791 | $ 992,413 | ||
Weighted average obligor risk rating | [6] | 7.13 | 7.08 | ||
PUERTO RICO | Commercial and industrial | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 2,637,020 | $ 2,657,737 | ||
PUERTO RICO | Commercial and industrial | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 148,672 | 187,620 | ||
PUERTO RICO | Commercial and industrial | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 121,248 | 146,216 | ||
PUERTO RICO | Commercial and industrial | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 239,447 | $ 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] | $ 794 | $ 690 | ||
PUERTO RICO | Commercial and industrial | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 14 | 29 | ||
PUERTO RICO | Commercial and industrial | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 510,175 | 591,376 | ||
PUERTO RICO | Commercial and industrial | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 2,126,845 | $ 2,066,361 | ||
Weighted average obligor risk rating | [6] | 7.16 | 7.13 | ||
PUERTO RICO | Commercial | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 7,254,169 | $ 7,368,219 | ||
PUERTO RICO | Commercial | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 784,299 | 825,013 | ||
PUERTO RICO | Commercial | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 653,322 | 732,986 | ||
PUERTO RICO | Commercial | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 995,070 | $ 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] | $ 2,604 | $ 2,605 | ||
PUERTO RICO | Commercial | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 14 | 29 | ||
PUERTO RICO | Commercial | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 2,435,309 | 2,661,075 | ||
PUERTO RICO | Commercial | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 4,818,860 | $ 4,707,144 | ||
Weighted average obligor risk rating | [6] | 7.05 | 6.95 | ||
PUERTO RICO | Construction | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 81,054 | $ 100,948 | |||
PUERTO RICO | Construction | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 25 | 7,269 | |||
PUERTO RICO | Construction | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 1,229 | 5,522 | |||
PUERTO RICO | Construction | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 2,208 | $ 19,806 | |||
Weighted average obligor risk rating | 11 | 11.18 | |||
PUERTO RICO | Construction | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 0 | $ 0 | |||
PUERTO RICO | Construction | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
PUERTO RICO | Construction | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 3,462 | 32,597 | |||
PUERTO RICO | Construction | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 77,592 | $ 68,351 | |||
Weighted average obligor risk rating | 7.71 | 7.56 | |||
PUERTO RICO | Mortgages | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 5,964,838 | $ 6,127,491 | ||
PUERTO RICO | Mortgages | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 3,769 | 4,810 | ||
PUERTO RICO | Mortgages | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 2,923 | 2,794 | ||
PUERTO RICO | Mortgages | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 212,834 | 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] | 219,526 | 245,606 | ||
PUERTO RICO | Mortgages | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 5,745,312 | 5,881,885 | ||
PUERTO RICO | Leasing | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 682,810 | 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] | 2,878 | 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] | 0 | 0 | ||
PUERTO RICO | Leasing | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 2,878 | 3,009 | ||
PUERTO RICO | Leasing | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 679,932 | 624,641 | ||
PUERTO RICO | Consumer | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 3,293,830 | 3,346,302 | ||
PUERTO RICO | Consumer | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 1,106 | 1,606 | ||
PUERTO RICO | Consumer | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 889 | 1,448 | ||
PUERTO RICO | Consumer | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 69,557 | 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] | 288 | 605 | ||
PUERTO RICO | Consumer | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 71,840 | 76,532 | ||
PUERTO RICO | Consumer | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 3,221,990 | 3,269,770 | ||
PUERTO RICO | Credit cards | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 1,105,757 | 1,128,345 | |||
PUERTO RICO | Credit cards | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
PUERTO RICO | Credit cards | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
PUERTO RICO | Credit cards | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 18,186 | 19,098 | |||
PUERTO RICO | Credit cards | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
PUERTO RICO | Credit cards | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
PUERTO RICO | Credit cards | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 18,186 | 19,098 | |||
PUERTO RICO | Credit cards | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 1,087,571 | 1,109,247 | |||
PUERTO RICO | Home equity lines of credit | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 8,620 | 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] | 102 | 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] | 102 | 394 | ||
PUERTO RICO | Home equity lines of credit | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 8,518 | 10,294 | ||
PUERTO RICO | Personal | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 1,172,556 | 1,202,835 | ||
PUERTO RICO | Personal | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 1,106 | 1,606 | ||
PUERTO RICO | Personal | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 889 | 1,448 | ||
PUERTO RICO | Personal | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 21,957 | 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] | 23,952 | 26,170 | ||
PUERTO RICO | Personal | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | [6] | 1,148,604 | 1,176,665 | ||
PUERTO RICO | Auto | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 828,824 | 815,950 | |||
PUERTO RICO | Auto | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
PUERTO RICO | Auto | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
PUERTO RICO | Auto | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 12,073 | 11,609 | |||
PUERTO RICO | Auto | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
PUERTO RICO | Auto | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 136 | 30 | |||
PUERTO RICO | Auto | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 12,209 | 11,639 | |||
PUERTO RICO | Auto | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 816,615 | 804,311 | |||
PUERTO RICO | Other | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 178,073 | 188,484 | |||
PUERTO RICO | Other | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
PUERTO RICO | Other | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
PUERTO RICO | Other | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 17,239 | 18,656 | |||
PUERTO RICO | Other | Doubtful | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
PUERTO RICO | Other | Loss | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 152 | 575 | |||
PUERTO RICO | Other | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 17,391 | 19,231 | |||
PUERTO RICO | Other | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 160,682 | 169,253 | |||
UNITED STATES | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 5,319,271 | 4,775,505 | |||
UNITED STATES | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 74,947 | 111,298 | |||
UNITED STATES | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 16,185 | 39,269 | |||
UNITED STATES | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 234,240 | 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 | 3,367 | 3,234 | |||
UNITED STATES | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 328,739 | 346,488 | |||
UNITED STATES | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 4,990,532 | 4,429,017 | |||
UNITED STATES | Commercial multi-family | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 946,198 | 693,933 | |||
UNITED STATES | Commercial multi-family | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 3,990 | 14,129 | |||
UNITED STATES | Commercial multi-family | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 6,553 | 7,189 | |||
UNITED STATES | Commercial multi-family | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 695 | $ 427 | |||
Weighted average obligor risk rating | 11.3 | 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 | 11,238 | 21,745 | |||
UNITED STATES | Commercial multi-family | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 934,960 | $ 672,188 | |||
Weighted average obligor risk rating | 7.26 | 7.15 | |||
UNITED STATES | CRE non-owner occupied | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 1,225,998 | $ 963,023 | |||
UNITED STATES | CRE non-owner occupied | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 59,157 | 57,450 | |||
UNITED STATES | CRE non-owner occupied | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 197 | 6,741 | |||
UNITED STATES | CRE non-owner occupied | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 4,887 | $ 16,646 | |||
Weighted average obligor risk rating | 11.17 | 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 | 64,241 | 80,837 | |||
UNITED STATES | CRE non-owner occupied | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 1,161,757 | $ 882,186 | |||
Weighted average obligor risk rating | 6.72 | 6.92 | |||
UNITED STATES | CRE owner occupied | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 237,481 | $ 202,344 | |||
UNITED STATES | CRE owner occupied | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 6,784 | 11,978 | |||
UNITED STATES | CRE owner occupied | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 1,074 | |||
UNITED STATES | CRE owner occupied | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 9,803 | $ 2,967 | |||
Weighted average obligor risk rating | 11.11 | 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 | 16,587 | 16,019 | |||
UNITED STATES | CRE owner occupied | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 220,894 | $ 186,325 | |||
Weighted average obligor risk rating | 7.32 | 7.23 | |||
UNITED STATES | Commercial and industrial | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 873,345 | $ 871,644 | |||
UNITED STATES | Commercial and industrial | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 4,035 | 10,827 | |||
UNITED STATES | Commercial and industrial | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 560 | 5,344 | |||
UNITED STATES | Commercial and industrial | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 152,385 | $ 131,933 | |||
Weighted average obligor risk rating | 11.57 | 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 | 156,980 | 148,104 | |||
UNITED STATES | Commercial and industrial | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 716,365 | $ 723,540 | |||
Weighted average obligor risk rating | 6.09 | 6.24 | |||
UNITED STATES | Commercial | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 3,283,022 | $ 2,730,944 | |||
UNITED STATES | Commercial | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 73,966 | 94,384 | |||
UNITED STATES | Commercial | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 7,310 | 20,348 | |||
UNITED STATES | Commercial | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 167,770 | $ 151,973 | |||
Weighted average obligor risk rating | 11.53 | 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 | 249,046 | 266,705 | |||
UNITED STATES | Commercial | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 3,033,976 | $ 2,464,239 | |||
Weighted average obligor risk rating | 6.78 | 6.81 | |||
UNITED STATES | Construction | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 650,298 | $ 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 | 8,038 | 16,948 | |||
UNITED STATES | Construction | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 43,962 | $ 18,856 | |||
Weighted average obligor risk rating | 11 | 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 | 52,000 | 50,895 | |||
UNITED STATES | Construction | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 598,298 | $ 529,263 | |||
Weighted average obligor risk rating | 7.71 | 7.79 | |||
UNITED STATES | Mortgages | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 809,659 | $ 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 | 14,429 | 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 | 14,429 | 13,537 | |||
UNITED STATES | Mortgages | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 795,230 | 895,053 | |||
UNITED STATES | Legacy | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 47,914 | 64,436 | |||
UNITED STATES | Legacy | Watch | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 981 | 1,823 | |||
UNITED STATES | Legacy | Special Mention | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 837 | 1,973 | |||
UNITED STATES | Legacy | Substandard | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 4,768 | $ 6,134 | |||
Weighted average obligor risk rating | 11.11 | 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 | 6,586 | 9,930 | |||
UNITED STATES | Legacy | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 41,328 | $ 54,506 | |||
Weighted average obligor risk rating | 7.87 | 7.78 | |||
UNITED STATES | Consumer | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 528,378 | $ 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 | 3,311 | 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 | 3,367 | 3,234 | |||
UNITED STATES | Consumer | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 6,678 | 5,421 | |||
UNITED STATES | Consumer | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 521,700 | 485,956 | |||
UNITED STATES | Credit cards | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 273 | 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 | 82 | 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 | 82 | 0 | |||
UNITED STATES | Credit cards | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 191 | 13,935 | |||
UNITED STATES | Home equity lines of credit | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 263,213 | 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 | 1,831 | 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 | 2,798 | 2,626 | |||
UNITED STATES | Home equity lines of credit | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 4,629 | 4,176 | |||
UNITED STATES | Home equity lines of credit | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 258,584 | 300,308 | |||
UNITED STATES | Personal | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 264,614 | 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 | 1,398 | 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 | 569 | 603 | |||
UNITED STATES | Personal | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 1,967 | 1,240 | |||
UNITED STATES | Personal | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 262,647 | 171,386 | |||
UNITED STATES | Auto | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 12 | 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 | 0 | 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 | 0 | 0 | |||
UNITED STATES | Auto | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 12 | 28 | |||
UNITED STATES | Other | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 266 | 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 | 0 | 5 | |||
UNITED STATES | Other | Sub-total | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | 0 | 5 | |||
UNITED STATES | Other | Pass / Unrated | |||||
Financing Receivable, Recorded Investment | |||||
Loans held-in-portfolio, net of unearned income | $ 266 | $ 299 | |||
[1] | Includes $7.4 billion pledged to secure credit facilities and public funds that the secured parties are not permitted to sell or repledge the collateral, of which $4.6 billion were pledged at the FHLB as collateral for borrowings, $2.3 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 $118 million in unearned income and exclude $72 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 | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Financing Receivable | |||
Recent Loss Trend Adjustment | 12-months | ||
Net Impact Revisions | $ 9,400 | ||
Banco Popular North America | |||
Financing Receivable | |||
Recent Loss Trend Adjustment Percentage | 4.00% | 17.00% | |
Non Covered Loans | |||
Financing Receivable | |||
Troubled debt restructurings | $ 1,209,121 | $ 1,151,343 | |
Non Covered Loans | Banco Popular de Puerto Rico | |||
Financing Receivable | |||
Change Allowance For Loan Losses Recalibration And Updates Of The Enviromental Factors Adjustments | $ 9,400 | ||
Recent Loss Trend Adjustment Percentage | 49.00% | 18.00% | |
Commercial | Non Covered Loans | |||
Financing Receivable | |||
Troubled debt restructurings | $ 248,253 | 254,532 | |
Mortgage and consumer | |||
Financing Receivable | |||
Historical Loss Period | 18-months | ||
Commercial and construction | |||
Financing Receivable | |||
Historical Loss Period | 5-year | ||
Mortgages | Non Covered Loans | |||
Financing Receivable | |||
Troubled debt restructurings | $ 844,675 | 774,496 | |
Mortgages | Non Covered Loans | Guaranteed By US Sponsored Entities | |||
Financing Receivable | |||
Troubled debt restructurings | 395,000 | 359,000 | |
Loan | Commercial | |||
Financing Receivable | |||
Outstanding commitments to lend additional funds to debtors owing receivables whose terms have been modified in troubled debt restructurings | $ 8,000 | $ 11 |
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 | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | ||
Disclosure Activity In The F D I C Loss Share Indemnification Asset [Abstract] | |||||
Beginning balance | $ 214,029 | $ 392,947 | $ 310,221 | $ 542,454 | |
Amortization of loss share indemnification asset | (1,259) | (3,931) | (9,337) | (62,312) | |
Credit impairment losses (reversal) to be covered under loss sharing agreements | [1] | 659 | (183) | (959) | 15,710 |
Reimbursable expenses | 853 | 6,276 | 7,038 | 70,551 | |
Recoveries reimbursable to the FDIC | 0 | 0 | (4,093) | 0 | |
Net payment from FDIC under loss-sharing agreements | (6,819) | (80,993) | (95,407) | (245,416) | |
Arbitration award expense | [2] | (54,924) | 0 | (54,924) | 0 |
Other adjustments attributable to FDIC loss sharing agreements | (72) | (2,170) | (72) | (9,041) | |
Ending balance | $ 152,467 | $ 311,946 | $ 152,467 | $ 311,946 | |
[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. | ||||
[2] | Refer to Note 23, Commitments and Contingencies, for additional information on the FDIC arbitration award. |
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 | Sep. 30, 2016 | Dec. 31, 2015 |
Business Acquisition, Contingent Consideration [Line Items] | ||
Carrying amount (fair value) | $ 134,487 | $ 119,745 |
Undiscounted amount | $ 166,453 | $ 168,692 |
Note FDIC loss share asset (FDI
Note FDIC loss share asset (FDIC loss share - Additional Information) (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2016USD ($)D | Sep. 30, 2015USD ($) | Sep. 30, 2016USD ($)D | Sep. 30, 2015USD ($) | Dec. 31, 2015USD ($) | ||
Business Acquisition, Contingent Consideration [Line Items] | ||||||
True Up Payment Term | D | 45 | 45 | ||||
Calculation Percent Asset Discount Per Bid | $ 1,100,000 | $ 1,100,000 | ||||
Intrinsic Loss Estimate | 4,600,000 | $ 4,600,000 | ||||
Servicing Amount Period Trueup Payment | twelve-month period | |||||
F D I C Indemnification Asset | $ 152,467 | $ 152,467 | $ 310,221 | |||
Fair Value Inputs Discount Rate | 5.70% | 7.64% | ||||
Arbitration award expense | [1] | $ 54,924 | $ 0 | $ 54,924 | $ 0 | |
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 | $ 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 1 month | |||||
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 | $ 87,000 | $ 87,000 | ||||
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 | 10 | ||||
[1] | Refer to Note 23, Commitments and Contingencies, for additional information on the FDIC arbitration award. |
Note Mortgage banking activitie
Note Mortgage banking activities (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Mortgage Servicing Rights MSR Impairment Recovery | $ (18,879) | $ (5,808) | ||
Mortgage Banking Activities | ||||
Mortgage servicing fees | $ 14,520 | $ 17,020 | 43,997 | 43,957 |
Mortgage Servicing Rights MSR Impairment Recovery | (6,062) | 1,038 | (18,879) | (5,808) |
Servicing Fees Net | 8,458 | 18,058 | 25,118 | 38,149 |
Net gain on sale of loans, including valuation adjustments on loans held-for-sale | 8,857 | 9,698 | 24,441 | 24,999 |
Unrealized gains (losses) on outstanding derivative positions | 95 | (69) | (44) | (10) |
Realized (losses) on closed derivative positions | (2,138) | (3,492) | (7,465) | (4,766) |
Trading Gains (Losses) | (2,043) | (3,561) | (7,509) | (4,776) |
Mortgage banking activities | $ 15,272 | $ 24,195 | $ 42,050 | $ 58,372 |
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 | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | $ 213,348 | $ 311,170 | $ 601,329 | $ 835,204 |
GNMA | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 161,000 | 251,000 | 465,000 | 651,000 |
FNMA | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 50,000 | 57,000 | 129,000 | 174,000 |
Trading account securities | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 184,829 | 307,861 | 568,270 | 825,126 |
Trading account securities | GNMA | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 140,255 | 251,061 | 444,382 | 650,891 |
Trading account securities | FNMA | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 44,574 | 56,800 | 123,888 | 174,235 |
Mortgage Servicing Rights | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 2,695 | 3,309 | 7,235 | 10,078 |
Available For Sale Securities | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 25,824 | 25,824 | ||
Available For Sale Securities | GNMA | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 20,686 | 20,686 | ||
Available For Sale Securities | FNMA | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 5,138 | 5,138 | ||
Level 1 | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 0 | 0 | 0 | 0 |
Level 1 | Trading account securities | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 0 | 0 | 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 | 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 | 0 | 0 |
Level 1 | Mortgage Servicing Rights | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 0 | 0 | 0 | 0 |
Level 1 | Available For Sale Securities | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 0 | 0 | ||
Level 1 | Available For Sale Securities | GNMA | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 0 | 0 | ||
Level 1 | Available For Sale Securities | FNMA | ||||
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 | 210,653 | 307,861 | 594,094 | 825,126 |
Level 2 | Trading account securities | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 184,829 | 307,861 | 568,270 | 825,126 |
Level 2 | Trading account securities | GNMA | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 140,255 | 251,061 | 444,382 | 650,891 |
Level 2 | Trading account securities | FNMA | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 44,574 | 56,800 | 123,888 | 174,235 |
Level 2 | Mortgage Servicing Rights | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 0 | 0 | 0 | 0 |
Level 2 | Available For Sale Securities | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 25,824 | 25,824 | ||
Level 2 | Available For Sale Securities | GNMA | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 20,686 | 20,686 | ||
Level 2 | Available For Sale Securities | FNMA | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 5,138 | 5,138 | ||
Level 3 | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 2,695 | 3,309 | 7,235 | 10,078 |
Level 3 | Trading account securities | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 0 | 0 | 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 | 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 | 0 | 0 |
Level 3 | Mortgage Servicing Rights | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 2,695 | $ 3,309 | 7,235 | $ 10,078 |
Level 3 | Available For Sale Securities | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 0 | 0 | ||
Level 3 | Available For Sale Securities | GNMA | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 0 | 0 | ||
Level 3 | Available For Sale Securities | FNMA | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | $ 0 | $ 0 |
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 | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | ||
Transfers and Servicing of Financial Assets | |||
Fair value at beginning of period | $ 211,405 | $ 148,694 | |
Additions | 7,843 | 73,411 | |
Changes due to payments of loans | [1] | (13,381) | (12,891) |
Reduction due to loan repurchases | (1,183) | (1,576) | |
Changes in fair value due to changes in valuation model inputs or assumptions | (4,315) | 3,213 | |
Other disposals | (15) | 0 | |
Fair value at end of period | $ 200,354 | $ 210,851 | |
[1] | Represents the change due to collection / realization of expected cash flow 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 | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 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 | 4.60% | 7.00% | 5.20% | 7.00% |
Weighted average life (in years) | 10 years 7 months | 8 years 10 months | 10 years 1 month | 7 years 1 month |
Discount rate (annual rate) | 11.00% | 11.10% | 11.00% | 11.00% |
Note Transfers of financial 127
Note Transfers of financial assets and servicing rights (Fair value of purchased and originated MSRs, their related valuation assumptions and sensitivity) (Detail) - Residential Mortgage - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Originated MSRs | ||
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 | $ 91,628 | $ 98,648 |
Weighted average life | 7 years 5 months | 7 years 4 months |
Weighted average prepayment speed (annual rate) | 5.50% | 6.00% |
Impact on fair value of 10% adverse change | $ (2,074) | $ (2,488) |
Impact on fair value of 20% adverse change | $ (4,307) | $ (5,241) |
Weighted average discount rate (annual rate) | 11.50% | 11.50% |
Impact on fair value of 10% adverse change | $ (3,741) | $ (4,083) |
Impact on fair value of 20% adverse change | (7,431) | (8,206) |
Purchased MSRs | ||
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 | $ 108,726 | $ 112,757 |
Weighted average life | 6 years 6 months | 6 years 2 months |
Weighted average prepayment speed (annual rate) | 5.90% | 6.90% |
Impact on fair value of 10% adverse change | $ (2,475) | $ (2,871) |
Impact on fair value of 20% adverse change | $ (5,118) | $ (6,034) |
Weighted average discount rate (annual rate) | 11.00% | 11.00% |
Impact on fair value of 10% adverse change | $ (4,085) | $ (4,211) |
Impact on fair value of 20% adverse change | $ (8,134) | $ (8,525) |
Note Transfers of financial 128
Note Transfers of financial assets and servicing rights (Transfers of financial assets and servicing rights - Additional Information) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 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% | 0.28% | 0.29% | 0.28% | |
Mortgage loans related to buy-back option program | $ 22,714,358 | $ 22,714,358 | $ 22,453,813 | ||
Transfers Of Financial Assets Accounted For As Sale Initial Fair Value Of Liabilities Incurred | 0 | $ 0 | $ 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. | ||||
Loans with Recourse | |||||
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items] | |||||
Loans serviced | 1,700,000 | $ 1,700,000 | 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 | 160,000 | 160,000 | 140,000 | ||
Repurchased Loans | 67,000 | 68,000 | |||
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 | 8,400 | 9,100 | 22,600 | 22,800 | |
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 | 46,000 | 56,000 | 46,000 | 56,000 | |
Securitization Financial Asset For Which Transfer Is Accounted As Sale Gain Loss On Sale | 1,900 | 2,200 | |||
Loans serviced | 18,400,000 | 18,400,000 | $ 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 | $ 11,000 | $ 14,000 | $ 34,000 | $ 44,000 |
Note Other Real Estate Owned (D
Note Other Real Estate Owned (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | ||
Other Real Estate Owned Rollforward [Line Items] | |||||
Other Real Estate Owned Beginning Balance | $ 215,009 | $ 175,759 | $ 191,916 | $ 265,766 | |
Other Real Estate Owned Write Downs | (3,781) | (3,151) | (10,555) | (40,060) | |
Additions | 33,955 | 38,036 | 102,690 | 106,392 | |
Other Real Estate Owned Sales | (22,721) | (18,514) | (59,160) | (139,515) | |
Other adjustments | (220) | (603) | (2,649) | (1,056) | |
Transfer to non-covered status | [1] | 0 | |||
Other Real Estate Owned Ending Balance | 222,242 | 191,527 | 222,242 | 191,527 | |
Non-covered loans | Mortgages | |||||
Other Real Estate Owned Rollforward [Line Items] | |||||
Other Real Estate Owned Beginning Balance | 152,915 | 107,530 | 122,760 | 96,517 | |
Other Real Estate Owned Write Downs | (2,859) | (1,843) | (6,489) | (5,678) | |
Additions | 27,355 | 24,318 | 83,255 | 63,925 | |
Other Real Estate Owned Sales | (13,866) | (12,402) | (34,769) | (39,731) | |
Other adjustments | 92 | (93) | (1,120) | (615) | |
Transfer to non-covered status | [1] | 3,092 | |||
Other Real Estate Owned Ending Balance | 163,637 | 117,510 | 163,637 | 117,510 | |
Non-covered loans | Commercial / Construction | |||||
Other Real Estate Owned Rollforward [Line Items] | |||||
Other Real Estate Owned Beginning Balance | 24,110 | 34,725 | 32,471 | 38,983 | |
Other Real Estate Owned Write Downs | (255) | (668) | (2,533) | (10,717) | |
Additions | 2,388 | 7,959 | 5,500 | 12,787 | |
Other Real Estate Owned Sales | (5,052) | (3,190) | (13,632) | (17,485) | |
Other adjustments | 0 | (510) | (615) | 244 | |
Transfer to non-covered status | [1] | 14,504 | |||
Other Real Estate Owned Ending Balance | 21,191 | 38,316 | 21,191 | 38,316 | |
Covered loans | Mortgages | |||||
Other Real Estate Owned Rollforward [Line Items] | |||||
Other Real Estate Owned Beginning Balance | 37,984 | 33,504 | 36,685 | 44,872 | |
Other Real Estate Owned Write Downs | (667) | (640) | (1,533) | (3,315) | |
Additions | 4,212 | 5,759 | 13,935 | 20,019 | |
Other Real Estate Owned Sales | (3,803) | (2,922) | (10,759) | (22,550) | |
Other adjustments | (312) | 0 | (914) | (233) | |
Transfer to non-covered status | [1] | (3,092) | |||
Other Real Estate Owned Ending Balance | $ 37,414 | 35,701 | $ 37,414 | 35,701 | |
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 | (20,350) | ||||
Additions | 9,661 | ||||
Other Real Estate Owned Sales | (59,749) | ||||
Other adjustments | (452) | ||||
Transfer to non-covered status | [1] | (14,504) | |||
Other Real Estate Owned Ending Balance | $ 0 | $ 0 | |||
[1] | Represents the reclassification of OREOs to the non-covered category, pursuant to the expiration of the commercial and consumer shared-loss arrangement with the FDIC related to loans acquired from Westernbank, on June 30, 2015. |
Note Other Real Estate Owned -
Note Other Real Estate Owned - Additional Information (Detail) $ in Millions | 3 Months Ended |
Jun. 30, 2015USD ($) | |
Other Real Estate | |
Bulk Sale Of Covered Other Real Estate | $ 37 |
Note Other assets by major cate
Note Other assets by major categories (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Deferred Costs Capitalized Prepaid And Other Assets Disclosure Abstract | |||
Net deferred tax assets (net of valuation allowance) | $ 1,231,356 | $ 1,302,452 | |
Investments under the equity method | 214,797 | 212,838 | |
Prepaid taxes | 175,400 | 180,969 | |
Other prepaid expenses | 88,071 | 79,215 | |
Derivative assets | 13,427 | 16,959 | |
Trades receivables from brokers and counterparties | 80,125 | 78,759 | $ 125,625 |
Principal, interest and escrow servicing advances | 74,475 | 79,862 | |
Guaranteed mortgage loan claims receivable | 151,478 | 101,628 | |
Others | 134,810 | 140,480 | |
Total other assets | $ 2,163,939 | $ 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 | 9 Months Ended | |||
Sep. 30, 2016 | Mar. 31, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Goodwill [Line Items] | |||||
Beginning Balance | $ 626,388 | $ 626,388 | $ 465,676 | ||
Goodwill on acquisition | 0 | 42,634 | |||
Purchase accounting adjustments | 4,700 | 4,707 | (3,385) | ||
Goodwill impairment charge | (3,801) | 0 | |||
Ending Balance | $ 627,294 | $ 504,925 | 627,294 | 504,925 | |
Continuing Operations | |||||
Goodwill [Line Items] | |||||
Goodwill impairment charge | (3,801) | 0 | (3,801) | 0 | |
Banco Popular de Puerto Rico | |||||
Goodwill [Line Items] | |||||
Beginning Balance | 280,221 | 280,221 | 250,109 | ||
Goodwill on acquisition | 0 | 3,899 | |||
Purchase accounting adjustments | 0 | (3,385) | |||
Goodwill impairment charge | (3,801) | 0 | |||
Ending Balance | 276,420 | 250,623 | 276,420 | 250,623 | |
Banco Popular North America | |||||
Goodwill [Line Items] | |||||
Beginning Balance | $ 346,167 | 346,167 | 215,567 | ||
Goodwill on acquisition | 0 | 38,735 | |||
Purchase accounting adjustments | 4,707 | 0 | |||
Goodwill impairment charge | 0 | 0 | |||
Ending Balance | $ 350,874 | $ 254,302 | $ 350,874 | $ 254,302 |
Note Goodwill and other inta133
Note Goodwill and other intangible assets (Components of other intangible assets subject to amortization) (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Finite-Lived Intangible Assets [Line Items] | ||
Gross Amount | $ 99,988 | $ 101,204 |
Finite Lived Intangible Assets Accumulated Amortization | 58,215 | 49,209 |
Finite-Lived Intangible Assets, Net | 41,773 | 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 | 43,467 | 38,464 |
Finite-Lived Intangible Assets, Net | 20,072 | 25,075 |
Other customer relationship | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Customer Relationships, Gross | 36,449 | 37,665 |
Finite Lived Intangible Assets Accumulated Amortization | 14,748 | 10,745 |
Finite-Lived Intangible Assets, Net | $ 21,701 | $ 26,920 |
Note Goodwill and other inta134
Note Goodwill and other intangible assets (Estimated amortization of the intangible assets with definite useful lives) (Detail) $ in Thousands | Sep. 30, 2016USD ($) |
Disclosure - Estimated Amortization of the Intangible Assets with Definite Useful Lives [Abstract] | |
Remaining 2,016 | $ 2,836 |
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 inta135
Note Goodwill and other intangible assets (Gross amount of goodwill and accumulated impairment losses by reportable segment and corporate group) (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2014 |
Goodwill [Line Items] | ||||
Goodwill Gross | $ 795,506 | $ 790,799 | $ 630,087 | |
Goodwill Impaired Accumulated Impairment Loss | 168,212 | 164,411 | 164,411 | |
Goodwill (net amounts) | 627,294 | 626,388 | $ 504,925 | 465,676 |
Banco Popular de Puerto Rico | ||||
Goodwill [Line Items] | ||||
Goodwill Gross | 280,221 | 280,221 | 250,109 | |
Goodwill Impaired Accumulated Impairment Loss | 3,801 | 0 | 0 | |
Goodwill (net amounts) | 276,420 | 280,221 | 250,623 | 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 inta136
Note Goodwill and other intangible assets - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2016 | Mar. 31, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | Jul. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Line Items] | |||||||
Indefinite Lived Intangible Assets | $ 6,100 | $ 6,100 | $ 6,100 | ||||
Amortization Of Intangible Assets | 9,308 | $ 8,497 | |||||
Goodwill, Impairment Loss | 3,801 | 0 | |||||
Goodwill Purchase Accounting Adjustments | $ 4,700 | $ 4,707 | (3,385) | ||||
Discount Rate | 5.70% | 7.64% | |||||
Maximum | |||||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||||
Discount Rate | 13.72% | ||||||
Minimum | |||||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||||
Discount Rate | 9.47% | ||||||
Banco Popular de Puerto Rico | |||||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||||
Goodwill, Impairment Loss | $ 3,801 | 0 | |||||
Goodwill Purchase Accounting Adjustments | 0 | (3,385) | |||||
Step 1 Fair Value Excess Over Carrying Amount | $ 549 | ||||||
Percentage excess of fair value of reporting unit over equity value | 16.00% | ||||||
Banco Popular de Puerto Rico | FDIC Assisted Partial Acquisition Of Doral Bank | |||||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||||
Goodwill Purchase Accounting Adjustments | 1,000 | ||||||
Banco Popular de Puerto Rico | Insurance benefits business acquisition | |||||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||||
Goodwill Purchase Accounting Adjustments | 2,400 | ||||||
Banco Popular North America | |||||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||||
Goodwill, Impairment Loss | 0 | 0 | |||||
Amount Implied Fair Value | $ 166 | ||||||
Goodwill Purchase Accounting Adjustments | $ 4,707 | 0 | |||||
Banco Popular de Puerto Rico and Banco Popular North America | |||||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||||
Percentage Of Goodwill | 98.00% | 98.00% | |||||
Continuing Operations | |||||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||||
Amortization Of Intangible Assets | $ 3,097 | $ 3,512 | $ 9,308 | 8,497 | |||
Goodwill, Impairment Loss | $ 3,801 | $ 0 | $ 3,801 | $ 0 |
Note Deposits (Total interest b
Note Deposits (Total interest bearing deposits) (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Deposits Abstract | ||
Savings accounts | $ 7,467,000 | $ 7,010,391 |
NOW, money market abd other interest bearing demand deposits | 8,007,752 | 5,632,449 |
Total savings, NOW, money market and other interest bearing demand deposits | 15,474,752 | 12,642,840 |
Time Deposits Abstract | ||
$100000 | 3,668,667 | 4,014,359 |
$100,000 and over | 4,233,339 | 4,151,009 |
Total certificates of deposit | 7,902,006 | 8,165,368 |
Total interest bearing deposits | $ 23,376,758 | $ 20,808,208 |
Note Deposits (Summary of certi
Note Deposits (Summary of certificates of deposit by maturity) (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Deposits Abstract | ||
2,016 | $ 2,153,326 | |
2,017 | 2,331,194 | |
2,018 | 1,122,454 | |
2,019 | 641,676 | |
2,020 | 924,486 | |
2021 and thereafter | 728,870 | |
Total certificates of deposit | $ 7,902,006 | $ 8,165,368 |
Note Deposits - Additional Info
Note Deposits - Additional Information (Detail) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Deposits Abstract | ||
Brokered deposit | $ 700 | $ 1,300 |
Deposit Liabilities Reclassified As Loans Receivable | $ 20 | $ 11 |
Note Borrowings (Composition of
Note Borrowings (Composition of federal funds purchased and assets sold under agreements to repurchase) (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Federal Funds Purchased and Securities Sold under Agreements to Repurchase | ||
Federal Funds Purchased | $ 0 | $ 50,000 |
Assets sold under agreements to repurchase | 765,251 | 712,145 |
Federal Funds Purchased and Securities Sold Under Agreements To Repurchase | $ 765,251 | $ 762,145 |
Note Borrowings (Federal funds
Note Borrowings (Federal funds purchased and repurchase Agreements) (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | $ 765,251 | $ 712,145 |
Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 765,251 | 712,145 |
US Treasury Securities | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 86,753 | 0 |
US Treasury Securities | Within 30 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 19,260 | 0 |
US Treasury Securities | After 30 to 90 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 34,793 | 0 |
US Treasury Securities | After 90 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 32,700 | 0 |
Obligations of U.S. Government sponsored entities | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 304,141 | 267,074 |
Obligations of U.S. Government sponsored entities | Within 30 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 81,832 | 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 | 72,900 | 0 |
Obligations of U.S. Government sponsored entities | After 90 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 149,409 | 23,366 |
Mortgage Backed Securities | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 348,451 | 421,901 |
Mortgage Backed Securities | Within 30 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 51,456 | 124,878 |
Mortgage Backed Securities | After 30 to 90 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 149,665 | 154,582 |
Mortgage Backed Securities | After 90 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 147,330 | 142,441 |
Collateralized Mortgage Obligations | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 25,906 | 23,170 |
Collateralized Mortgage Obligations | Within 30 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 25,906 | 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 | $ 0 | $ 0 |
Note Borrowings (Other short-te
Note Borrowings (Other short-term borrowings) (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Short-term Debt [Abstract] | ||
Others | $ 1,200 | $ 1,200 |
Total other short-term borrowings | $ 1,200 | $ 1,200 |
Note Borrowings (Notes payable)
Note Borrowings (Notes payable) (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Debt Instrument [Line Items] | ||
Others | $ 18,321 | $ 19,008 |
Notes payable | 1,598,533 | 1,662,508 |
Advances due 2016 To 2029 with fixed Rates 0.71% to 4.19% | ||
Debt Instrument [Line Items] | ||
Advances with the FHLB | 632,151 | 747,072 |
Floating Rate from 0.22% to 0.34% over the 1 month LIBOR with maturities ranging from 2018 to 2019 | ||
Debt Instrument [Line Items] | ||
Advances with the FHLB | 34,164 | 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 $5,733 for 2016 $7,296 for 2015 | ||
Debt Instrument [Line Items] | ||
Long Term Debt | 444,268 | 442,704 |
Fixed Rate 6.125% to 8.327% Junior Subordinated Deferrable Interest Debentures Due 2027 to 2034, net of debt issuance costs of $483 for 2016 and $505 for 2015 | ||
Debt Instrument [Line Items] | ||
Long Term Debt | $ 439,316 | $ 439,295 |
Note Borrowings (Notes payab144
Note Borrowings (Notes payable) (Parenthetical) (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | |
Advances due 2016 To 2029 with fixed Rates 0.71% to 4.19% | ||
Debt Instrument [Line Items] | ||
Advances with the FHLB, earliest maturity | 2,016 | |
Advances with the FHLB, latest maturity | 2,029 | |
Advances due 2016 To 2029 with fixed Rates 0.71% to 4.19% | Maximum | ||
Debt Instrument [Line Items] | ||
Advances with the FHLB, interest rate | 4.19% | |
Advances due 2016 To 2029 with fixed Rates 0.71% to 4.19% | Minimum | ||
Debt Instrument [Line Items] | ||
Advances with the FHLB, interest rate | 0.71% | |
Floating Rate from 0.22% to 0.34% over the 1 month LIBOR with maturities ranging from 2018 to 2019 | ||
Debt Instrument [Line Items] | ||
Advances with the FHLB, earliest maturity | 2,018 | |
Advances with the FHLB, latest maturity | 2,019 | |
Floating Rate from 0.22% to 0.34% over the 1 month LIBOR with maturities ranging from 2018 to 2019 | Maximum | ||
Debt Instrument [Line Items] | ||
Advances with the FHLB, interest rate | 0.34% | |
Floating Rate from 0.22% to 0.34% over the 1 month LIBOR with maturities ranging from 2018 to 2019 | Minimum | ||
Debt Instrument [Line Items] | ||
Advances with the FHLB, interest rate | 0.22% | |
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 | |
Floating Rate from (0.01%) to 0.24% over the 3 month LIBOR with maturities ranging from 2017 to 2019 | Maximum | ||
Debt Instrument [Line Items] | ||
Advances with the FHLB, interest rate | 0.24% | |
Floating Rate from (0.01%) to 0.24% over the 3 month LIBOR with maturities ranging from 2017 to 2019 | Minimum | ||
Debt Instrument [Line Items] | ||
Advances with the FHLB, interest rate | (0.01%) | |
Fixed Rate 7.00% Percent Notes Due July 2019 paying interest semiannually, net of debt issuance costs of $5,733 for 2016 $7,296 for 2015 | ||
Debt Instrument [Line Items] | ||
Interest Rate Percentage | 7.00% | |
Senior Debt Maturity Year | 2,019 | |
Debt issuance costs line of credit arrangements net | $ 5,733 | $ 7,296 |
Fixed Rate 6.125% to 8.327% Junior Subordinated Deferrable Interest Debentures Due 2027 to 2034, net of debt issuance costs of $483 for 2016 and $505 for 2015 | ||
Debt Instrument [Line Items] | ||
Notes Payable Maturity Year Range Start | 2,027 | |
Notes Payable Maturity Year Range End | 2,034 | |
Debt issuance costs line of credit arrangements net | $ 483 | $ 505 |
Fixed Rate 6.125% to 8.327% Junior Subordinated Deferrable Interest Debentures Due 2027 to 2034, net of debt issuance costs of $483 for 2016 and $505 for 2015 | Maximum | ||
Debt Instrument [Line Items] | ||
Interest Rate Percentage | 8.327% | |
Fixed Rate 6.125% to 8.327% Junior Subordinated Deferrable Interest Debentures Due 2027 to 2034, net of debt issuance costs of $483 for 2016 and $505 for 2015 | Minimum | ||
Debt Instrument [Line Items] | ||
Interest Rate Percentage | 6.125% |
Note Borrowings (Borrowings by
Note Borrowings (Borrowings by contractual maturities) (Detail) $ in Thousands | Sep. 30, 2016USD ($) |
Debt Disclosure [Line Items] | |
2,016 | $ 509,898 |
2,017 | 376,378 |
2,018 | 210,475 |
2,019 | 597,055 |
2,020 | 112,383 |
Later years | 558,795 |
Borrowed Funds | 2,364,984 |
Other Short Term Borrowings | |
Debt Disclosure [Line Items] | |
2,016 | 1,200 |
2,017 | 0 |
2,018 | 0 |
2,019 | 0 |
2,020 | 0 |
Later years | 0 |
Borrowed Funds | 1,200 |
Notes Payable | |
Debt Disclosure [Line Items] | |
2,016 | 23,886 |
2,017 | 95,939 |
2,018 | 210,475 |
2,019 | 597,055 |
2,020 | 112,383 |
Later years | 558,795 |
Borrowed Funds | 1,598,533 |
Federal Funds Purchased And Securities Sold Under Agreements To Repurchase | |
Debt Disclosure [Line Items] | |
2,016 | 484,812 |
2,017 | 280,439 |
2,018 | 0 |
2,019 | 0 |
2,020 | 0 |
Later years | 0 |
Borrowed Funds | $ 765,251 |
Note Borrowings (Additional Inf
Note Borrowings (Additional Information) (Detail) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Debt Disclosure [Line Items] | ||
Federal Home Loan Bank Advances General Debt Obligations Disclosures Amount Of Available Unused Funds | $ 3,900 | $ 3,900 |
Federal Home Loan Bank Advances And Letters Of Credit Amount Used | 897 | 762 |
Pledged Financial Instruments Not Separately Reported Loans For Letter Of Credit Facilities | 200 | |
Federal Reserve Bank Advances | ||
Debt Disclosure [Line Items] | ||
Line Of Credit Facility Current Borrowing Capacity | $ 1,200 | $ 1,300 |
Note Offsetting of financial as
Note Offsetting of financial assets and liabilities (Offsetting of financial assets) (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Derivative Asset Fair Value Net | ||
Derivatives gross amount of recognized asset | $ 13,427 | $ 16,959 |
Derivatives gross amount offset in the statement of financial position | 0 | 0 |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | 13,427 | 16,959 |
Derivatives gross amount not offset financial instruments | 336 | 114 |
Derivatives gross amount not offset securities collateral received | 0 | 0 |
Derivatives gross amount not offset cash collateral received | 0 | 0 |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 13,091 | 16,845 |
Securities Purchased Under Agreements To Resell Amount Offset Against Collateral | ||
Reverse repurchase agreement gross amount of recognized asset | 22,380 | 96,338 |
Reverse repurchase agreement gross amount offset in the statement of financial position | 0 | 0 |
Securities Purchased Under Agreements To Resell | 22,380 | 96,338 |
Reverse repurchase agreement gross amount not offset financial instrument | 0 | 0 |
Reverse repurchase agreement gross amount not offset securities collateral received | 22,380 | 96,338 |
Reverse repurchase agreement gross amount not offset cash collateral received | 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] | ||
Total gross amount of recognized assets | 35,807 | 113,297 |
Total gross amount offset in the statement of financial position | 0 | 0 |
Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed | 35,807 | 113,297 |
Total gross amount not offset financial instruments | 336 | 114 |
Total gross amount not offset securities collateral received | 22,380 | 96,338 |
Total gross amounts not offset cash collateral received | 0 | 0 |
Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Amount Offset Against Collateral | $ 13,091 | $ 16,845 |
Note Offsetting of financial148
Note Offsetting of financial assets and liabilities (Offsetting of financial liabilities) (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Derivative Liability Fair Value Net | ||
Derivatives gross amount of recognized liabilities | $ 11,214 | $ 14,343 |
Derivatives gross amounts asset offset in the statement of financial position | 0 | 0 |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 11,214 | 14,343 |
Derivatives gross amount not offset financial instruments | 336 | 114 |
Derivatives gross amounts not offset securities collateral received | 1,546 | 4,050 |
Derivatives gross amount not offset cash collateral pledged | 0 | 0 |
Derivative Liability, Fair Value, Amount Offset Against Collateral, Total | 9,332 | 10,179 |
Securities Borrowed Amount Offset Against Collateral | ||
Repurchase agreements gross amount of recognized liabilities | 765,251 | 712,145 |
Repurchase agreements gross amount asset offset in the statement of financial position | 0 | 0 |
Securities Sold Under Agreements To Repurchase Offsetting | 765,251 | 712,145 |
Repurchase agreements gross amount not offset financial instruments | 0 | 0 |
Repurchase agreeements gross amount not offset securities collateral pledged | 765,251 | 712,145 |
Repurchase agreements gross amounts not offset cash collateral pledged | 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 | ||
Total gross amount of recognized liabilities | 776,465 | 726,488 |
Total gross amounts of asset offset in the statement of financial position | 0 | 0 |
Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned | 776,465 | 726,488 |
Total gross amounts not offset financial instruments | 336 | 114 |
Total gross amounts not offset securities collateral pledged | 766,797 | 716,195 |
Total gross amounts not offset cash collateral pledged | 0 | 0 |
Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Amount Offset Against Collateral | $ 9,332 | $ 10,179 |
Note Offsetting of financial149
Note Offsetting of financial assets and liabilities (Offsetting of financial assets and liabilities - Additional Information) (Detail) | 9 Months Ended |
Sep. 30, 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 | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 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 | $ 495,000 | ||
Transfers To Statutory Reserve | 0 | $ 0 | 0 | $ 0 | |
Dividends, Common Stock, Cash | $ 15,600 | $ 46,666 | $ 15,534 | ||
Common Stock Dividends Per Share Declared | $ 0.15 | $ 0.15 | $ 0.45 | $ 0.15 | |
Dividend Payable Date To Be Paid Day Month And Year | Oct. 3, 2016 | ||||
Dividends Payable Date Of Record Day Month And Year | Sep. 9, 2016 |
Note Other comprehensive income
Note Other comprehensive income (loss) (Disclosure of accumulated other comprehensive income (loss)) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | ||
Foreign Currency Translation | ||||||
Beginning Balance | [1] | $ (38,070) | $ (34,505) | $ (35,930) | $ (32,832) | |
Other comprehensive loss before reclassifications | [1] | (325) | (31) | (2,465) | (1,704) | |
Amounts reclassified from accumulated other comprehensive income | [1] | 0 | 0 | 0 | 0 | |
Net change | [1] | (325) | (31) | (2,465) | (1,704) | |
Ending Balance | [1] | (38,395) | (34,536) | (38,395) | (34,536) | |
Adjustment of pension and postretirement benefit plans | ||||||
Beginning Balance | [1] | (205,743) | (200,215) | (211,276) | (205,187) | |
Amounts reclassified from accumulated other comprehensive income (loss) for amortization of net losses | [1] | 3,348 | 3,064 | 10,041 | 9,195 | |
Amounts reclassified from accumulated other comprehensive income (loss) for amortization of prior service cost | [1] | (580) | (579) | (1,740) | (1,738) | |
Net change | [1] | 2,768 | 2,485 | 8,301 | 7,457 | |
Ending Balance | [1] | (202,975) | (197,730) | (202,975) | (197,730) | |
Unrealized net holding (losses) gain on investments | ||||||
Beginning Balance | [1] | 98,761 | 15,533 | (9,560) | 8,465 | |
Other comprehensive (loss) income before reclassification | [1] | (14,131) | 27,435 | 94,023 | 22,548 | |
Other-than-temporary impairment amounts reclassified from accumulated other comprehensive (loss) income | [1] | 0 | 0 | 167 | 11,959 | |
Amounts reclassified from accumulated other comprehensive (loss) income | [1] | (316) | (109) | (316) | (113) | |
Net change | [1] | (14,447) | 27,326 | 93,874 | 34,394 | |
Ending Balance | [1] | 84,314 | 42,859 | 84,314 | 42,859 | |
Unrealized net (losses) gain on cash flow hedges | ||||||
Beginning Balance | [1] | (560) | 156 | (120) | (318) | |
Other comprehensive (loss) income before reclassifications | [1] | (685) | (1,571) | (2,843) | (2,505) | |
Amounts reclassified from other accumulated other comprehensive (loss) income | [1] | 1,006 | 1,016 | 2,724 | 2,424 | |
Net change | [1] | 321 | (555) | (119) | (81) | |
Ending Balance | [1] | (239) | (399) | (239) | (399) | |
Accumulated other comprehensive (loss) income | [1] | $ (157,295) | $ (189,806) | $ (157,295) | $ (189,806) | $ (256,886) |
[1] | All amounts presented are net of tax. |
Note Other comprehensive inc152
Note Other comprehensive income (loss) (Reclassification out of accumulated other comprehensive income (loss)) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | ||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||||
Reclassification adjustment for (gains) losses included in net income (loss) | [1] | $ 0 | $ 0 | $ 0 | $ 0 |
Other-than-temporary impairment losses on available-for-sale debt securities | 0 | 0 | (209) | (14,445) | |
Net Income | 46,810 | 85,640 | 220,796 | 757,918 | |
Reclassification out of accumulated other comprehensive income | |||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||||
Other-than-temporary impairment losses on available-for-sale debt securities | 0 | 0 | (209) | (14,445) | |
Net Income | (3,458) | (3,392) | (10,876) | (21,727) | |
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 | (4,538) | (4,075) | (13,611) | (12,225) | |
Income tax (benefit) expense | 1,770 | 1,590 | 5,310 | 4,768 | |
Net Income | (2,768) | (2,485) | (8,301) | (7,457) | |
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 | (5,488) | (5,025) | (16,461) | (15,075) | |
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 | 2,850 | 2,850 | |
Reclassification out of accumulated other comprehensive income | Unrealized holding (losses) gain on investments | Realized gain (loss) on sale of securities | |||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||||
Total before tax | 349 | 136 | 140 | (14,304) | |
Net (loss) gain and valuation adjustments on investment securities | 349 | 136 | 349 | 141 | |
Income tax (benefit) expense | (33) | (27) | 9 | 2,458 | |
Net Income | 316 | 109 | 149 | (11,846) | |
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 | (1,650) | (1,664) | (4,466) | (3,973) | |
Mortgage banking activities | (1,650) | (1,664) | (4,466) | (3,973) | |
Income tax (benefit) expense | 644 | 648 | 1,742 | 1,549 | |
Net Income | $ (1,006) | $ (1,016) | $ (2,724) | $ (2,424) | |
[1] | All amounts presented are net of tax. |
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 | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Guarantor Obligations | ||||
Balance as of beginning of period | $ 56,931 | $ 57,589 | $ 58,663 | $ 59,438 |
Provision | 4,086 | 4,394 | 11,613 | 15,262 |
Net charge-offs | (4,737) | (4,927) | (13,996) | (17,644) |
Balance as of end of period | $ 56,280 | $ 57,056 | $ 56,280 | $ 57,056 |
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 | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Guarantor Obligations | ||||
Balance as of beginning of period | $ 10,702 | $ 6,062 | $ 8,087 | $ 15,959 |
Provision (reversal) for representations and warranties | (34) | 1,409 | 2,767 | (6,199) |
Net charge-offs | (27) | (14) | (213) | (53) |
Settlements paid | 0 | 0 | 0 | (2,250) |
Balance as of end of period | $ 10,641 | $ 7,457 | $ 10,641 | $ 7,457 |
Note Guarantees (Credit recours
Note Guarantees (Credit recourse) - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | |
Guarantee on loans sold or serviced with credit recourse | ||||||||
Guarantor Obligations | ||||||||
Valuation Allowances And Reserves Balance | $ 56,280 | $ 57,056 | $ 56,280 | $ 57,056 | $ 56,931 | $ 58,663 | $ 57,589 | $ 59,438 |
Serviced Mortgage Loans | ||||||||
Guarantor Obligations | ||||||||
Loans serviced | 18,400,000 | 18,400,000 | 20,600,000 | |||||
Loans with Recourse | ||||||||
Guarantor Obligations | ||||||||
Loans serviced | 1,700,000 | 1,700,000 | $ 1,900,000 | |||||
Loans with Recourse | Serviced Mortgage Loans | ||||||||
Guarantor Obligations | ||||||||
Repurchased Loans | $ 11,000 | $ 14,000 | $ 34,000 | $ 44,000 |
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 | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
E-Loan | |||
Guarantor Obligations | |||
Valuation Allowances And Reserves Balance | $ 2,000 | $ 4,000 | |
Securitization | |||
Guarantor Obligations | |||
Repurchased Loans | $ 0 | $ 0 |
Note Guarantees (Other Guarante
Note Guarantees (Other Guarantees) - Additional Information (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Guarantor Obligations | ||
Funds Advanced To Investors Under Servicing Agreements | $ 74,475 | $ 79,862 |
Popular, Inc. Holding Co. | Debt Securities Payable | ||
Guarantor Obligations | ||
Guarantees, unamortized balance of the obligations | 149,000 | 149,000 |
Financial Standby Letter Of Credit | ||
Guarantor Obligations | ||
Guarantees, unamortized balance of the obligations | 400 | 500 |
Guarantee Type, Other | Popular, Inc. Holding Co. | Capital securities (trust preferred securities) | ||
Guarantor Obligations | ||
Guarantees, unamortized balance of the obligations | $ 427,000 | $ 427,000 |
Note Commitments and Contingenc
Note Commitments and Contingencies (Financial instruments with off-Balance Sheet credit risk) (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Commitments To Extend Credit | Credit card | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Unused Commitments To Extend Credit | $ 4,542,246 | $ 4,552,331 |
Commitments To Extend Credit | Commercial and construction lines of credit | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Unused Commitments To Extend Credit | 2,813,109 | 2,619,092 |
Commitments To Extend Credit | Other consumer unused credit commitments | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Unused Commitments To Extend Credit | 266,780 | 262,685 |
Commercial Letters of Credit | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Unused Commitments To Extend Credit | 5,723 | 2,040 |
Standby Letters of Credit | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Unused Commitments To Extend Credit | 37,097 | 49,670 |
Commitments to originate or fund mortgage loans | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Unused Commitments To Extend Credit | $ 29,195 | $ 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 | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | $ 556,839 | $ 669,337 |
From PR Central Government | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 21,034 | |
From Government Development Bank | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 1,393 | |
From Public Corporation - Puerto Rico Aqueduct And Sewer Authority | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 27,689 | |
From Public Corporation - Puerto Rico Electric Power Authority [Member] | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 23 | |
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] | ||
Total concentration of risk | 506,696 | |
Outstanding Balance | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 523,892 | 577,759 |
Outstanding Balance | From PR Central Government | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 21,034 | |
Outstanding Balance | From Government Development Bank | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 1,393 | |
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 | 503 | |
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 | 23 | |
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 | 500,935 | 501,901 |
Loans Member | Outstanding Balance | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 447,835 | 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 | 0 | |
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 | 447,835 | |
Securities Investment Member | Outstanding Balance | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 76,057 | $ 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 | 21,034 | |
Securities Investment Member | Outstanding Balance | From Government Development Bank | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 1,393 | |
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 | 503 | |
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 | 23 | |
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 | 53,100 | |
Within 1 year | From Government Development Bank | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 2 | |
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 Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 31,798 | |
Within 1 year | Outstanding Balance | From Government Development Bank | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 2 | |
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 Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 29,736 | |
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 Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 26,631 | |
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 | 2 | |
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 Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 3,105 | |
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 | 851 | |
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 | 1,352 | |
After 1 and within 5 years | From Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 146,278 | |
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 | 851 | |
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 | 1,352 | |
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 | 142,579 | |
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 | 128,039 | |
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 | 851 | |
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 | 1,352 | |
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 | 14,540 | |
After 5 to 10 years | From PR Central Government | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 3,748 | |
After 5 to 10 years | From Government Development Bank | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 39 | |
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 | 163,640 | |
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 | 3,748 | |
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 | 39 | |
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 | 163,640 | |
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 | 145,005 | |
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 | 3,748 | |
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 | 39 | |
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 | 18,635 | |
After 10 years | From PR Central Government | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 16,435 | |
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 | 503 | |
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 | 23 | |
After 10 years | From Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 164,980 | |
After 10 years | Outstanding Balance | From PR Central Government | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 16,435 | |
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 | 503 | |
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 | 23 | |
After 10 years | Outstanding Balance | From Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 164,980 | |
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 | 148,160 | |
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 | 16,435 | |
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 | 503 | |
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 | 23 | |
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 | $ 16,820 |
Note Commitments and conting160
Note Commitments and contingencies (Commitments) - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Sep. 30, 2016 | Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Line Items] | |||
Unrecorded Unconditional Purchase Obligation Balance Sheet Amount | $ 372 | $ 372 | $ 9,000 |
From Public Corporation - Puerto Rico Electric Power Authority [Member] | |||
Commitments and Contingencies Disclosure [Line Items] | |||
Loans Sold | 40,000 | ||
PR Government Direct Exposure | |||
Commitments and Contingencies Disclosure [Line Items] | |||
Concentration Risk Credit Risk Financial Instrument Maximum Exposure | 556,839 | 669,337 | |
PR Government Direct Exposure | From PR Government And Public Corporations | |||
Commitments and Contingencies Disclosure [Line Items] | |||
Concentration Of Risk Credit Facilities | 22,957 | 22,957 | 75,858 |
PR Government Direct Exposure | From Municipalities | |||
Commitments and Contingencies Disclosure [Line Items] | |||
Concentration Risk Credit Risk Financial Instrument Maximum Exposure | 506,696 | ||
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 | 23 | ||
PR Government Indirect Exposure | |||
Commitments and Contingencies Disclosure [Line Items] | |||
Concentration Of Risk Credit Facilities | 413,000 | 413,000 | 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 | 51,000 | 50,000 |
PR Government Indirect Exposure | Commercial real estate | |||
Commitments and Contingencies Disclosure [Line Items] | |||
Concentration Of Risk Credit Facilities | 32,000 | 32,000 | 28,000 |
Outstanding Balance | PR Government Direct Exposure | |||
Commitments and Contingencies Disclosure [Line Items] | |||
Concentration Of Risk Credit Facilities | 523,892 | 523,892 | 577,759 |
Outstanding Balance | PR Government Direct Exposure | From Municipalities | |||
Commitments and Contingencies Disclosure [Line Items] | |||
Concentration Of Risk Credit Facilities | 500,935 | 500,935 | 501,901 |
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 | 23 | 23 | |
Outstanding Balance | PR Government Indirect Exposure | |||
Commitments and Contingencies Disclosure [Line Items] | |||
Loans and Leases Receivable, Consumer, Mortgage with PRHA | 330,000 | 330,000 | 316,000 |
Commitments To Extend Credit | |||
Commitments and Contingencies Disclosure [Line Items] | |||
Reserve of potential losses associated with unfunded loan commitments | 9,000 | 9,000 | 10,000 |
Loans | Outstanding Balance | PR Government Direct Exposure | |||
Commitments and Contingencies Disclosure [Line Items] | |||
Concentration Of Risk Credit Facilities | 447,835 | 447,835 | 502,251 |
Loans | Outstanding Balance | PR Government Direct Exposure | From Municipalities | |||
Commitments and Contingencies Disclosure [Line Items] | |||
Concentration Of Risk Credit Facilities | 447,835 | 447,835 | |
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 | 0 | 0 | |
Securities Investment | Outstanding Balance | PR Government Direct Exposure | |||
Commitments and Contingencies Disclosure [Line Items] | |||
Concentration Of Risk Credit Facilities | 76,057 | 76,057 | $ 75,508 |
Securities Investment | Outstanding Balance | PR Government Direct Exposure | From Municipalities | |||
Commitments and Contingencies Disclosure [Line Items] | |||
Concentration Of Risk Credit Facilities | 53,100 | 53,100 | |
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 | $ 23 | $ 23 |
Note Commitments and conting161
Note Commitments and contingencies (Legal Proceedings) - Additional Information (Detail) $ in Thousands | 3 Months Ended |
Sep. 30, 2016USD ($)claims | |
BPNA | |
Legal Matters And Contingencies [Line Items] | |
Claims RFC and RESCAP Liquidating Trust Litigation | claims | 70 |
Multiple Arbitration Proceedings Against Popular Securities And One Other PR Broker Dealers | Popular Securities | |
Legal Matters And Contingencies [Line Items] | |
Loss Contingency Aggregate Claims Damages Sought | $ 165,000 |
Loss Contingency Claim Of One Single Arbitration Case | $ 78,000 |
Aggregate Arbitrations with Claimed Damages | Popular Securities | |
Legal Matters And Contingencies [Line Items] | |
Loss Contingency Pending Claims Number | claims | 63 |
One arbitration with Claimed damages | Popular Securities | |
Legal Matters And Contingencies [Line Items] | |
Loss Contingency Pending Claims Number | claims | 1 |
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 | $ 27,250 |
Note Commitments and conting162
Note Commitments and contingencies (FDIC dealings section) - Additional Information (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||||||||||
Sep. 30, 2016USD ($)D | Sep. 30, 2015USD ($) | Jun. 30, 2015USD ($) | Mar. 31, 2015USD ($) | Sep. 30, 2016USD ($)D | Sep. 30, 2015USD ($) | Dec. 31, 2015USD ($) | Nov. 12, 2015USD ($) | Apr. 13, 2015USD ($) | Apr. 01, 2015USD ($) | Nov. 25, 2014USD ($) | |||||
FDIC Dealings [Line Items] | |||||||||||||||
Write-off | $ 64,241 | $ 69,241 | $ 259,059 | ||||||||||||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | 588,211 | $ 588,211 | $ 646,115 | ||||||||||||
F D I C Indemnification Asset | $ 152,467 | $ 152,467 | 310,221 | ||||||||||||
True Up Payment Term | D | 45 | 45 | |||||||||||||
Arbitration award expense | [1] | $ 54,924 | $ 0 | $ 54,924 | $ 0 | ||||||||||
FDIC | |||||||||||||||
FDIC Dealings [Line Items] | |||||||||||||||
Business Combination Contingent Consideration Liability | 134,487 | 134,487 | 119,745 | ||||||||||||
Portfolio Sales Arbitration Filed On June 2015 | |||||||||||||||
FDIC Dealings [Line Items] | |||||||||||||||
Loss Contingency Aggregate Claims Damages Sought | 88,500 | ||||||||||||||
Pending Dispute With FDIC | |||||||||||||||
FDIC Dealings [Line Items] | |||||||||||||||
Loss Contingency Aggregate Claims Damages Sought | $ 4,900 | ||||||||||||||
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 | 87,000 | 87,000 | |||||||||||||
Covered loans | |||||||||||||||
FDIC Dealings [Line Items] | |||||||||||||||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | $ 588,211 | [2] | $ 588,211 | [2] | $ 646,115 | [3] | |||||||||
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 | ||||||||||||||
[1] | Refer to Note 23, Commitments and Contingencies, for additional information on the FDIC arbitration award. | ||||||||||||||
[2] | Includes $349 million pledged to secure credit facilities at the FHLB which are not permitted to sell or repledge the collateral. | ||||||||||||||
[3] | Includes $386 million pledged to secure credit facilities at the FHLB which are not permitted to sell or repledge the collateral. |
Note Non-consolidated VIEs (Car
Note Non-consolidated VIEs (Carrying amount and classification of assets related to the Corporation's VI in non-consolidated VIEs and max exposure to loss) (Detail) - FNMA, GNMA, FHLMC VIE - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | $ 178,429 | $ 187,655 |
Maximum exposure to loss | 178,429 | 187,655 |
Servicing assets | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 154,740 | 163,224 |
Mortgage servicing rights | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 154,740 | 163,224 |
Other assets | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 23,689 | 24,431 |
Servicing advances | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | $ 23,689 | $ 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 | Sep. 30, 2016 | Dec. 31, 2015 |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | $ 9,586 | $ 14,059 |
Liabilities | (3,603) | (18,808) |
Net assets | 5,983 | (4,749) |
Maximum exposure to loss | 5,983 | 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 | 9,586 | 13,069 |
Deposits | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Liabilities | $ (3,603) | $ (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 | Sep. 30, 2016 | Dec. 31, 2015 |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | $ 36,387 | $ 83,565 |
Liabilities | (8,380) | (11,772) |
Net assets | 28,007 | 71,793 |
Maximum exposure to loss | 28,007 | 71,793 |
Loan | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 12,155 | 58,302 |
Acquisition Loan | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 0 | 35,121 |
Advances Working Capital Line | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 762 | 885 |
Advances Advance Facility | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 11,393 | 22,296 |
Accrued Income Receivable | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 48 | 169 |
Equity Method Investments | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 24,184 | 25,094 |
Deposits | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Liabilities | $ (8,380) | $ (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 | Sep. 30, 2016 | Dec. 31, 2015 | |
PRLP 2011 Holding, LLC | ||||
Variable Interest Entity [Line Items] | ||||
Equity Method Investment Ownership Percentage | 24.90% | 24.90% | ||
Loans Receivable, Description of Variable Rate Basis | 5-year maturity and bear a variable interest at 30-day LIBOR plus 300 basis points | |||
Carrying Amount Of Acquisition Loan After Financed Closing Costs | $ 86 | |||
Total Working Capital Line | 20 | |||
Total Advance Facility | 69 | |||
Cash Received From Investee | $ 48 | |||
PR Asset Portfolio 2013-1 International, LLC | ||||
Variable Interest Entity [Line Items] | ||||
Equity Method Investment Ownership Percentage | 24.90% | 24.90% | ||
Loans Receivable, Description of Variable Rate Basis | 5-year maturity and bears a variable interest at 30-day LIBOR plus 300 basis points | |||
Carrying Amount Of Acquisition Loan After Financed Closing Costs | $ 182 | |||
Total Working Capital Line | 30 | |||
Total Advance Facility | 35 | |||
Cash Received From Investee | $ 92 | |||
FNMA, GNMA, FHLMC VIE | ||||
Variable Interest Entity [Line Items] | ||||
Principal Amount Outstanding on Loans Securitized or Asset-backed Financing Arrangement | $ 12,500 | $ 12,800 |
Note Related party transactions
Note Related party transactions (Corporation's equity in Evertec) (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Related Party Transaction [Line Items] | ||
Investment in equity investees | $ 214,797 | $ 212,838 |
EVERTEC Inc. | ||
Related Party Transaction [Line Items] | ||
Investment in equity investees | $ 37,357 | $ 33,590 |
Note Related party transacti168
Note Related party transactions (Financial Condition accounts outstanding with EVERTEC) (Detail) - EVERTEC Inc. - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Related Party Transaction [Line Items] | ||
Accounts receivables (Other assets) | $ 5,901 | $ 3,148 |
Deposits | (21,231) | (23,973) |
Accounts payable (Other liabilities) | (18,330) | (16,192) |
Total | $ (33,660) | $ (37,017) |
Note Related party transacti169
Note Related party transactions (Proportionate share of income (loss) and changes in stockholder's equity from EVERTEC) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Related Party Transaction [Line Items] | ||||
Income (Loss) from Equity Method Investments, Total | $ 23,812 | $ 17,085 | ||
EVERTEC Inc. | ||||
Related Party Transaction [Line Items] | ||||
Share of income (loss) from investment | $ 3,198 | $ 2,162 | 9,397 | 8,077 |
Share of other changes in stockholders equity | 426 | 600 | (899) | 1,165 |
Income (Loss) from Equity Method Investments, Total | $ 3,624 | $ 2,762 | $ 8,498 | $ 9,242 |
Note Related party transacti170
Note Related party transactions (Impact on the results of operations of transactions between the Corporation and EVERTEC) (Detail) - EVERTEC Inc. - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Deposits | ||||
Related Party Transaction [Line Items] | ||||
Interest Expense Related Party | $ (15) | $ (15) | $ (51) | $ (41) |
Other Fee Revenue | ||||
Related Party Transaction [Line Items] | ||||
Related Party Transaction Revenues From Transactions With Related Party | 7,533 | 6,961 | 21,948 | 20,614 |
Rental Income | ||||
Related Party Transaction [Line Items] | ||||
Related Party Transaction Revenues From Transactions With Related Party | 1,760 | 1,719 | 5,232 | 5,166 |
Processing Fees | ||||
Related Party Transaction [Line Items] | ||||
Expenses from Transactions with related party | (44,923) | (41,147) | (131,701) | (122,597) |
Other Expense | ||||
Related Party Transaction [Line Items] | ||||
Related Party Transaction Revenues From Transactions With Related Party | 269 | 144 | 783 | 852 |
Total | ||||
Related Party Transaction [Line Items] | ||||
Related Party Transaction, Amounts of Transaction | $ (35,376) | $ (32,338) | $ (103,789) | $ (96,006) |
Note Related party transacti171
Note Related party transactions (Corporation's equity in PRLP 2011 Holdings, LLC) (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Related Party Transaction [Line Items] | ||
Equity Method Investments | $ 214,797 | $ 212,838 |
PRLP 2011 Holding, LLC | ||
Related Party Transaction [Line Items] | ||
Equity Method Investments | $ 9,586 | $ 13,069 |
Note Related party transacti172
Note Related party transactions (Financial Condition accounts outstanding with PRLP 2011 Holdings, LLC) (Detail) - PRLP 2011 Holding, LLC - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Related Party Transaction [Line Items] | ||
Loans | $ 0 | $ 980 |
Accounts receivables (Other assets) | 0 | 10 |
Deposits | (3,603) | (18,808) |
Total | $ (3,603) | $ (17,818) |
Note Related party transacti173
Note Related party transactions (Proportionate share of income (loss) from PRLP 2011 Holdings, LLC minority interest) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Related Party Transaction [Line Items] | ||||
Income Loss From Equity Method Investments | $ 23,812 | $ 17,085 | ||
PRLP 2011 Holding, LLC | ||||
Related Party Transaction [Line Items] | ||||
Income Loss From Equity Method Investments | $ 511 | $ (633) | $ (83) | $ (2,463) |
Note Related party transacti174
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 | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Loans | PRLP 2011 Holding, LLC | ||||
Related Party Transaction [Line Items] | ||||
Interest Income Related Party | $ 0 | $ 48 | $ 11 | $ 161 |
Note Related party transacti175
Note Related party transactions (Corporation's equity in PR Asset Portfolio 2013-1 International, LLC) (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Related Party Transaction [Line Items] | ||
Investment in equity investees | $ 214,797 | $ 212,838 |
PR Asset Portfolio 2013-1 International, LLC | ||
Related Party Transaction [Line Items] | ||
Investment in equity investees | $ 24,184 | $ 25,094 |
Note Related party transacti176
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 | Sep. 30, 2016 | Dec. 31, 2015 |
Related Party Transaction [Line Items] | ||
Loans | $ 12,155 | $ 58,302 |
Accounts receivables (Other assets) | 48 | 169 |
Deposits | (8,380) | (11,772) |
Total | $ 3,823 | $ 46,699 |
Note Related party transacti177
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 | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Related Party Transaction [Line Items] | ||||
Income Loss From Equity Method Investments | $ 23,812 | $ 17,085 | ||
PR Asset Portfolio 2013-1 International, LLC | ||||
Related Party Transaction [Line Items] | ||||
Income Loss From Equity Method Investments | $ (587) | $ (1,177) | $ (910) | $ (5,645) |
Note Related party transacti178
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 | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Related Party Transaction [Line Items] | ||||
Related Party Transaction Revenues From Transactions With Related Party | $ 188 | $ 658 | $ 920 | $ 2,270 |
Loans | ||||
Related Party Transaction [Line Items] | ||||
Interest Income Related Party | 189 | 659 | 923 | 2,272 |
Deposits | ||||
Related Party Transaction [Line Items] | ||||
Interest Expense Related Party | $ (1) | $ (1) | $ (3) | $ (2) |
Note Related party transacti179
Note Related party transactions (Related party transactions with affiliated company - Equity Method - Additional Information) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Jun. 30, 2016 | Sep. 30, 2016 | Sep. 30, 2015 | 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 | $ 400 | $ 500 | ||||
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 | 15.91% | |||||
Proceeds from Equity Method Investment, Dividends or Distributions | $ 3,500 | $ 3,500 | ||||
Proportionate Share Of The Cumulative Impact Of The Evertec Restatement | $ 2,200 | |||||
EVERTEC Inc. | Financial Standby Letter Of Credit Member | ||||||
Related Party Transaction [Line Items] | ||||||
Guarantee Obligations Current Carrying Value | $ 4,200 |
Note Fair value measurement (As
Note Fair value measurement (Assets and liabilities measured at fair value on a recurring basis) (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2014 | |||
Assets | |||||||
Available For Sale Securities | $ 7,628,656 | [1] | $ 6,062,992 | [2] | |||
Trading Securities | 72,584 | 71,659 | |||||
Mortgage servicing rights | 200,354 | 211,405 | $ 210,851 | $ 148,694 | |||
Derivatives | 13,427 | 16,959 | |||||
US Treasury Securities | |||||||
Assets | |||||||
Available For Sale Securities | 1,619,416 | 1,183,328 | |||||
Obligations of U.S. Government sponsored entities | |||||||
Assets | |||||||
Available For Sale Securities | 698,309 | 939,641 | |||||
Obligations of Puerto Rico, States and political subdivisions | |||||||
Assets | |||||||
Available For Sale Securities | 26,976 | 22,359 | |||||
Collateralized Mortgage Obligations - Federal agencies | |||||||
Assets | |||||||
Available For Sale Securities | 1,339,251 | 1,560,837 | |||||
Mortgage Backed Securities | |||||||
Assets | |||||||
Available For Sale Securities | 3,932,729 | 2,344,196 | |||||
Equity securities | |||||||
Assets | |||||||
Available For Sale Securities | 2,205 | 2,398 | |||||
Other | |||||||
Assets | |||||||
Available For Sale Securities | 9,770 | 10,233 | |||||
Level 1 | |||||||
Assets | |||||||
Available For Sale Securities | [3] | 0 | 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] | 7,627,259 | 6,061,282 | ||||
Trading Securities | [3] | 65,340 | 62,687 | ||||
Mortgage servicing rights | 0 | 0 | |||||
Derivatives | 13,427 | 16,959 | |||||
Liabilities | |||||||
Derivative Financial Instruments Liabilities Fair Value Disclosure | 11,214 | 14,343 | |||||
Contingent consideration | 0 | 0 | |||||
Level 3 | |||||||
Assets | |||||||
Available For Sale Securities | [3] | 1,397 | 1,434 | ||||
Trading Securities | [3] | 7,244 | 8,972 | ||||
Mortgage servicing rights | 200,354 | 211,405 | |||||
Derivatives | 0 | 0 | |||||
Liabilities | |||||||
Derivative Financial Instruments Liabilities Fair Value Disclosure | 0 | 0 | |||||
Contingent consideration | (135,122) | (120,380) | |||||
Fair Value, Measurements, Recurring | |||||||
Assets | |||||||
Available For Sale Securities | 7,628,656 | 6,062,992 | |||||
Trading Securities | 72,584 | 71,659 | |||||
Mortgage servicing rights | 200,354 | 211,405 | |||||
Derivatives | 13,427 | 16,959 | |||||
Total | 7,915,021 | 6,363,015 | |||||
Liabilities | |||||||
Derivative Financial Instruments Liabilities Fair Value Disclosure | (11,214) | (14,343) | |||||
Contingent consideration | (135,122) | (120,380) | |||||
Total | (146,336) | (134,723) | |||||
Fair Value, Measurements, Recurring | US Treasury Securities | |||||||
Assets | |||||||
Available For Sale Securities | 1,619,416 | 1,183,328 | |||||
Fair Value, Measurements, Recurring | Obligations of U.S. Government sponsored entities | |||||||
Assets | |||||||
Available For Sale Securities | 698,309 | 939,641 | |||||
Fair Value, Measurements, Recurring | Obligations of Puerto Rico, States and political subdivisions | |||||||
Assets | |||||||
Available For Sale Securities | 26,976 | 22,359 | |||||
Trading Securities | 4,523 | 4,590 | |||||
Fair Value, Measurements, Recurring | Collateralized Mortgage Obligations - Federal agencies | |||||||
Assets | |||||||
Available For Sale Securities | 1,339,251 | 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 | 3,932,729 | 2,344,196 | |||||
Trading Securities | 52,404 | 51,155 | |||||
Fair Value, Measurements, Recurring | Equity securities | |||||||
Assets | |||||||
Available For Sale Securities | 2,205 | 2,398 | |||||
Fair Value, Measurements, Recurring | Other | |||||||
Assets | |||||||
Available For Sale Securities | 9,770 | 10,233 | |||||
Trading Securities | 14,286 | 13,860 | |||||
Fair Value, Measurements, Recurring | Collateralized Mortgage Obligations | |||||||
Assets | |||||||
Trading Securities | 1,371 | 2,054 | |||||
Fair Value, Measurements, Recurring | Level 1 | |||||||
Assets | |||||||
Available For Sale Securities | 0 | 276 | |||||
Trading Securities | 0 | 0 | |||||
Mortgage servicing rights | 0 | 0 | |||||
Derivatives | 0 | 0 | |||||
Total | 0 | 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 | 0 | 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 | 7,627,259 | 6,061,282 | |||||
Trading Securities | 65,340 | 62,687 | |||||
Mortgage servicing rights | 0 | 0 | |||||
Derivatives | 13,427 | 16,959 | |||||
Total | 7,706,026 | 6,140,928 | |||||
Liabilities | |||||||
Derivative Financial Instruments Liabilities Fair Value Disclosure | (11,214) | (14,343) | |||||
Contingent consideration | 0 | 0 | |||||
Total | (11,214) | (14,343) | |||||
Fair Value, Measurements, Recurring | Level 2 | US Treasury Securities | |||||||
Assets | |||||||
Available For Sale Securities | 1,619,416 | 1,183,328 | |||||
Fair Value, Measurements, Recurring | Level 2 | Obligations of U.S. Government sponsored entities | |||||||
Assets | |||||||
Available For Sale Securities | 698,309 | 939,641 | |||||
Fair Value, Measurements, Recurring | Level 2 | Obligations of Puerto Rico, States and political subdivisions | |||||||
Assets | |||||||
Available For Sale Securities | 26,976 | 22,359 | |||||
Trading Securities | 4,523 | 4,590 | |||||
Fair Value, Measurements, Recurring | Level 2 | Collateralized Mortgage Obligations - Federal agencies | |||||||
Assets | |||||||
Available For Sale Securities | 1,339,251 | 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 | 3,931,332 | 2,342,762 | |||||
Trading Securities | 47,154 | 44,701 | |||||
Fair Value, Measurements, Recurring | Level 2 | Equity securities | |||||||
Assets | |||||||
Available For Sale Securities | 2,205 | 2,122 | |||||
Fair Value, Measurements, Recurring | Level 2 | Other | |||||||
Assets | |||||||
Available For Sale Securities | 9,770 | 10,233 | |||||
Trading Securities | 13,663 | 13,173 | |||||
Fair Value, Measurements, Recurring | Level 2 | Collateralized Mortgage Obligations | |||||||
Assets | |||||||
Trading Securities | 0 | 223 | |||||
Fair Value, Measurements, Recurring | Level 3 | |||||||
Assets | |||||||
Available For Sale Securities | 1,397 | 1,434 | |||||
Trading Securities | 7,244 | 8,972 | |||||
Mortgage servicing rights | 200,354 | 211,405 | |||||
Derivatives | 0 | 0 | |||||
Total | 208,995 | 221,811 | |||||
Liabilities | |||||||
Derivative Financial Instruments Liabilities Fair Value Disclosure | 0 | 0 | |||||
Contingent consideration | (135,122) | (120,380) | |||||
Total | (135,122) | (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 | 1,397 | 1,434 | |||||
Trading Securities | 5,250 | 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 | 623 | 687 | |||||
Fair Value, Measurements, Recurring | Level 3 | Collateralized Mortgage Obligations | |||||||
Assets | |||||||
Trading Securities | $ 1,371 | $ 1,831 | |||||
[1] | Includes $4.2 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 $3.3 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 $1.5 billion serve as collateral for public funds. | ||||||
[3] | Refer to Note 26 to the consolidated financial statements for the fair value by class of financial asset and its hierarchy level. |
Note Fair value measurement 181
Note Fair value measurement (Assets measured at fair value on nonrecurring basis) (Detail) - Fair Value, Measurements, Nonrecurring - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Fair Value by Asset Class [Domain] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | $ 61,309 | $ 114,204 |
Loans held-for-sale | 0 | 47,458 |
Other real estate owned | 39,996 | 55,753 |
Other Foreclosed Assets | 46 | 91 |
Total | 101,351 | 217,506 |
Write-down | (39,581) | (128,173) |
Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Write-down | (31,097) | (87,260) |
Loans Held-for-Sale | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Write-down | 0 | (18) |
Other real estate owned | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Write-down | (8,482) | (40,059) |
Other foreclosed assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Write-down | (2) | (836) |
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 | 137 |
Other Foreclosed Assets | 0 | 0 |
Total | 0 | 137 |
Level 3 | Fair Value by Asset Class [Domain] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 61,309 | 114,204 |
Loans held-for-sale | 0 | 47,458 |
Other real estate owned | 39,996 | 55,616 |
Other Foreclosed Assets | 46 | 91 |
Total | $ 101,351 | $ 217,369 |
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 | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Assets, Fair Value Disclosure [Abstract] | ||||
Beginning Balance | $ 212,378 | $ 216,659 | $ 221,811 | $ 159,186 |
Gains (Losses) included in earnings | (6,101) | (4,376) | (18,863) | (11,156) |
Gains (losses) included in OCI | (1) | 5 | 15 | 7 |
Additions | 2,987 | 9,330 | 9,133 | 74,253 |
Sales | (110) | 0 | (2,134) | (124) |
Settlements | (158) | (246) | (967) | (794) |
Adjustments | 0 | 0 | ||
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Ending Balance | 208,995 | 221,372 | 208,995 | 221,372 |
Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss | (1,093) | (54) | (4,208) | 1,996 |
Liabilities, Fair Value Disclosure [Abstract] | ||||
Beginning Balance | (128,511) | (124,837) | (120,380) | (133,634) |
Gains (Losses) included in earnings | (6,611) | (1,058) | (14,742) | 6,777 |
Gains (losses) included in OCI | 0 | 0 | 0 | 0 |
Additions | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Adjustments | 0 | 962 | ||
Transfer into Level 3 | 0 | 0 | 0 | 0 |
Transfer out of Level 3 | 0 | 0 | 0 | 0 |
Ending Balance | (135,122) | (125,895) | (135,122) | (125,895) |
Fair Value Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss | (6,611) | (1,058) | (14,742) | 6,777 |
Other liabilities | Contingent consideration | ||||
Liabilities, Fair Value Disclosure [Abstract] | ||||
Beginning Balance | (128,511) | (124,837) | (120,380) | (133,634) |
Gains (Losses) included in earnings | (6,611) | (1,058) | (14,742) | 6,777 |
Gains (losses) included in OCI | 0 | 0 | 0 | 0 |
Additions | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Adjustments | 0 | 962 | ||
Ending Balance | (135,122) | (125,895) | (135,122) | (125,895) |
Fair Value Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss | (6,611) | (1,058) | (14,742) | 6,777 |
Available For Sale Securities | Mortgage Backed Securities | ||||
Assets, Fair Value Disclosure [Abstract] | ||||
Beginning Balance | 1,398 | 1,445 | 1,434 | 1,325 |
Gains (Losses) included in earnings | 0 | (1) | (2) | (1) |
Gains (losses) included in OCI | (1) | 5 | 15 | 7 |
Additions | 0 | 0 | 0 | 118 |
Sales | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | (50) | 0 |
Adjustments | 0 | 0 | ||
Ending Balance | 1,397 | 1,449 | 1,397 | 1,449 |
Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss | 0 | 0 | 0 | 0 |
Trading account securities | Mortgage Backed Securities | ||||
Assets, Fair Value Disclosure [Abstract] | ||||
Beginning Balance | 5,364 | 6,046 | 6,454 | 6,229 |
Gains (Losses) included in earnings | (32) | (12) | 85 | 2 |
Gains (losses) included in OCI | 0 | 0 | 0 | 0 |
Additions | 128 | 134 | 1,076 | 392 |
Sales | (110) | 0 | (1,826) | (80) |
Settlements | (100) | (197) | (539) | (572) |
Adjustments | 0 | 0 | ||
Ending Balance | 5,250 | 5,971 | 5,250 | 5,971 |
Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss | (29) | (4) | 74 | 20 |
Trading account securities | Collateralized Mortgage Obligations | ||||
Assets, Fair Value Disclosure [Abstract] | ||||
Beginning Balance | 1,399 | 1,192 | 1,831 | 1,375 |
Gains (Losses) included in earnings | 10 | 3 | (3) | (1) |
Gains (losses) included in OCI | 0 | 0 | 0 | 0 |
Additions | 5 | 294 | 214 | 332 |
Sales | 0 | 0 | (308) | (44) |
Settlements | (43) | (49) | (363) | (222) |
Adjustments | 0 | 0 | ||
Ending Balance | 1,371 | 1,440 | 1,371 | 1,440 |
Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss | 10 | 4 | 4 | 2 |
Trading account securities | Other | ||||
Assets, Fair Value Disclosure [Abstract] | ||||
Beginning Balance | 640 | 1,619 | 687 | 1,563 |
Gains (Losses) included in earnings | (17) | 42 | (64) | 98 |
Gains (losses) included in OCI | 0 | 0 | 0 | 0 |
Additions | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Adjustments | 0 | 0 | ||
Ending Balance | 623 | 1,661 | 623 | 1,661 |
Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss | 8 | 58 | 29 | 200 |
Mortgage Servicing Rights | ||||
Assets, Fair Value Disclosure [Abstract] | ||||
Beginning Balance | 203,577 | 206,357 | 211,405 | 148,694 |
Gains (Losses) included in earnings | (6,062) | (4,408) | (18,879) | (11,254) |
Gains (losses) included in OCI | 0 | 0 | 0 | 0 |
Additions | 2,854 | 8,902 | 7,843 | 73,411 |
Sales | 0 | 0 | 0 | 0 |
Settlements | (15) | 0 | (15) | 0 |
Adjustments | 0 | 0 | ||
Ending Balance | 200,354 | 210,851 | 200,354 | 210,851 |
Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss | $ (1,082) | $ (112) | $ (4,315) | $ 1,774 |
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 | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 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 | $ (6,101) | $ (4,376) | $ (18,863) | $ (11,156) |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings | (6,611) | (1,058) | (14,742) | 6,777 |
Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss | (1,093) | (54) | (4,208) | 1,996 |
Fair Value Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss | (6,611) | (1,058) | (14,742) | 6,777 |
Fair Value, Assets and Liabilities Measured on Recurring Basis, Gain (Loss) Included in Earnings | (12,712) | (5,434) | (33,605) | (4,379) |
Fair Value Assets And Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss Total | (7,704) | (1,112) | (18,950) | 8,773 |
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 | 0 | (1) | (2) | (1) |
Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss | 0 | 0 | 0 | 0 |
Mortgage Banking Activities | ||||
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 | (6,062) | (4,408) | (18,879) | (11,254) |
Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss | (1,082) | (112) | (4,315) | 1,774 |
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 | (39) | 33 | 18 | 99 |
Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss | (11) | 58 | 107 | 222 |
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 | (6,611) | (1,058) | (14,742) | 6,777 |
Fair Value Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss | $ (6,611) | $ (1,058) | $ (14,742) | $ 6,777 |
Note Fair value measurement (Qu
Note Fair value measurement (Quantitative inputs level 3) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2014 | ||
Assets, Fair Value Disclosure [Abstract] | ||||||
Trading Securities | $ 72,584 | $ 72,584 | $ 71,659 | |||
Servicing Asset At Fair Value Amount | $ 200,354 | $ 200,354 | $ 211,405 | $ 210,851 | $ 148,694 | |
Fair Value Inputs Quantitative Information [Abstract] | ||||||
Discount Rate | 5.70% | 7.64% | ||||
Maximum | ||||||
Fair Value Inputs Quantitative Information [Abstract] | ||||||
Discount Rate | 13.72% | |||||
Minimum | ||||||
Fair Value Inputs Quantitative Information [Abstract] | ||||||
Discount Rate | 9.47% | |||||
Fair Value, Measurements, Recurring | ||||||
Assets, Fair Value Disclosure [Abstract] | ||||||
Trading Securities | $ 72,584 | $ 72,584 | $ 71,659 | |||
Servicing Asset At Fair Value Amount | 200,354 | 200,354 | 211,405 | |||
Liabilities, Fair Value Disclosure [Abstract] | ||||||
Contingent consideration | (135,122) | (135,122) | (120,380) | |||
Fair Value, Measurements, Nonrecurring | ||||||
Assets, Fair Value Disclosure [Abstract] | ||||||
Loans Receivable, Fair Value Disclosure | [1] | 61,309 | 61,309 | 114,204 | ||
Real Estate Acquired Through Foreclosure | [2] | 39,996 | 39,996 | 55,753 | ||
Other Foreclosed Assets | [2] | 46 | 46 | $ 91 | ||
Contingent consideration | Fair Value Inputs Level 3 Internal Valuation Technique | Fair Value, Measurements, Recurring | ||||||
Liabilities, Fair Value Disclosure [Abstract] | ||||||
Contingent consideration | (134,487) | $ (134,487) | ||||
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 | 3.60% | |||||
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 | 4.70% | |||||
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 | 200,354 | $ 200,354 | ||||
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 | 13.80% | |||||
Weighted average life (in years) | 15 years 8 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 | 5.70% | |||||
Weighted average life (in years) | 6 years 11 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] | 61,257 | $ 61,257 | |||
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 | 39.50% | |||||
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] | 39,424 | $ 39,424 | |||
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 | 18.60% | |||||
Collateralized Mortgage Obligations | Fair Value, Measurements, Recurring | ||||||
Assets, Fair Value Disclosure [Abstract] | ||||||
Trading Securities | 1,371 | $ 1,371 | 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 | 1,371 | $ 1,371 | ||||
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 5 months | |||||
Yield | 4.20% | |||||
Constant Prepayment Rate | 26.90% | |||||
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 | 4 months | |||||
Yield | 0.70% | |||||
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 | 3 years | |||||
Yield | 3.40% | |||||
Constant Prepayment Rate | 20.60% | |||||
Other | Fair Value, Measurements, Recurring | ||||||
Assets, Fair Value Disclosure [Abstract] | ||||||
Trading Securities | 14,286 | $ 14,286 | $ 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 | $ 623 | $ 623 | ||||
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 | 12.30% | |||||
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 d own 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 | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Financial instruments measured at fair value on a recurring basis, transfers out of Level 3 | $ 0 | $ 0 | $ 0 | $ 0 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3 | 0 | 0 | 0 | 0 |
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount | 0 | 0 | 0 | 0 |
Fair Value, Assets, Level 2 to Level 1 Transfers, Amount | 0 | 0 | 0 | 0 |
Fair Value, Liabilities, Level 1 to Level 2 Transfers, Amount | 0 | 0 | 0 | 0 |
Fair Value, Liabilities, Level 2 to Level 1 Transfers, Amount | 0 | 0 | 0 | 0 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers Into Level 3 | $ 0 | $ 0 | $ 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 | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2014 | |||
Financial Assets: | |||||||
Cash And Due From Banks | $ 350,545 | $ 363,674 | |||||
Money market investments | 3,963,495 | 2,180,092 | |||||
Trading account securities, excluding derivatives | 72,584 | 71,659 | |||||
Available For Sale Securities | 7,628,656 | [1] | 6,062,992 | [2] | |||
Investment securities held-to-maturity, at amortized cost | 97,973 | [3] | 100,903 | [4] | |||
Held To Maturity Securities Fair Value | 79,410 | [3] | 82,889 | [4] | |||
Other investment securities | |||||||
FDIC loss-share asset | 152,467 | 310,221 | |||||
Mortgage servicing rights | 200,354 | 211,405 | $ 210,851 | $ 148,694 | |||
Derivatives | 13,427 | 16,959 | |||||
Deposits | |||||||
Time deposits | 7,902,006 | 8,165,368 | |||||
Total deposits | 30,327,045 | 27,209,723 | |||||
Federal funds purchased and assets sold under agreements to repurchase | 765,251 | 762,145 | |||||
Notes payable: | |||||||
Others | 18,321 | 19,008 | |||||
Notes Payable | 1,598,533 | 1,662,508 | |||||
Obligations of Puerto Rico, States and political subdivisions | |||||||
Financial Assets: | |||||||
Available For Sale Securities | 26,976 | 22,359 | |||||
Investment securities held-to-maturity, at amortized cost | 95,895 | 98,817 | |||||
Held To Maturity Securities Fair Value | 77,366 | 80,815 | |||||
Collateralized Mortgage Obligations - Federal agencies | |||||||
Financial Assets: | |||||||
Available For Sale Securities | 1,339,251 | 1,560,837 | |||||
Investment securities held-to-maturity, at amortized cost | 78 | 86 | |||||
Held To Maturity Securities Fair Value | 83 | 91 | |||||
Other | |||||||
Financial Assets: | |||||||
Available For Sale Securities | 9,770 | 10,233 | |||||
Investment securities held-to-maturity, at amortized cost | 2,000 | 2,000 | |||||
Held To Maturity Securities Fair Value | 1,961 | 1,983 | |||||
Level 1 | |||||||
Financial Assets: | |||||||
Cash And Cash Equivalents Fair Value Disclosure | 350,545 | 363,674 | |||||
Money Market Investments Fair Value | 3,929,352 | 2,083,839 | |||||
Trading account securities, excluding derivatives | [5] | 0 | 0 | ||||
Available For Sale Securities | [5] | 0 | 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 | |||||
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 | 34,143 | 96,253 | |||||
Trading account securities, excluding derivatives | [5] | 65,340 | 62,687 | ||||
Available For Sale Securities | [5] | 7,627,259 | 6,061,282 | ||||
Held To Maturity Securities Fair Value | 1,746 | 1,740 | |||||
Other investment securities | |||||||
FHLB Stock | 59,111 | 59,387 | |||||
FRB stock | 94,559 | 97,740 | |||||
Trust preferred securities | 13,198 | 13,198 | |||||
Other investments | 0 | 0 | |||||
Total other investment securities | 166,868 | 170,325 | |||||
Loans held-for-sale | 530 | 1,364 | |||||
F D I C Indemnification Asset Fair Value Portion | 0 | 0 | |||||
Mortgage servicing rights | 0 | 0 | |||||
Derivatives | 13,427 | 16,959 | |||||
Deposits | |||||||
Demand deposits | 22,425,039 | 19,044,355 | |||||
Time deposits | 7,891,718 | 8,134,029 | |||||
Deposits | 30,316,757 | 27,178,384 | |||||
Federal funds purchased and assets sold under agreements to repurchase | 764,738 | 764,599 | |||||
Other short-term borrowings | [6] | 1,200 | 1,200 | ||||
Notes payable: | |||||||
FHLB advances | 707,420 | 780,411 | |||||
Unsecured senior debt securities | 464,589 | 435,186 | |||||
Junior subordinated deferrable interest debentures | 401,796 | 352,673 | |||||
Others | 0 | 0 | |||||
Notes payable | 1,573,805 | 1,568,270 | |||||
Derivatives | 11,214 | 14,343 | |||||
Contingent consideration | 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 | 1,746 | 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] | 7,244 | 8,972 | ||||
Available For Sale Securities | [5] | 1,397 | 1,434 | ||||
Held To Maturity Securities Fair Value | 77,664 | 81,149 | |||||
Other investment securities | |||||||
FHLB Stock | 0 | 0 | |||||
FRB stock | 0 | 0 | |||||
Trust preferred securities | 0 | 0 | |||||
Other investments | 5,209 | 4,966 | |||||
Total other investment securities | 5,209 | 4,966 | |||||
Loans held-for-sale | 73,726 | 138,031 | |||||
F D I C Indemnification Asset Fair Value Portion | 144,674 | 313,224 | |||||
Mortgage servicing rights | 200,354 | 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 | 18,321 | 19,008 | |||||
Notes payable | 18,321 | 19,008 | |||||
Derivatives | 0 | 0 | |||||
Contingent consideration | 135,122 | 120,380 | |||||
Level 3 | Obligations of Puerto Rico, States and political subdivisions | |||||||
Financial Assets: | |||||||
Held To Maturity Securities Fair Value | 77,366 | 80,815 | |||||
Level 3 | Collateralized Mortgage Obligations - Federal agencies | |||||||
Financial Assets: | |||||||
Held To Maturity Securities Fair Value | 83 | 91 | |||||
Level 3 | Other | |||||||
Financial Assets: | |||||||
Held To Maturity Securities Fair Value | 215 | 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 | 20,416,444 | 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 | 553,431 | 593,002 | |||||
Carrying amount | |||||||
Financial Assets: | |||||||
Cash And Due From Banks | 350,545 | 363,674 | |||||
Money market investments | 3,963,495 | 2,180,092 | |||||
Trading account securities, excluding derivatives | [5] | 72,584 | 71,659 | ||||
Available For Sale Securities | [5] | 7,628,656 | 6,062,992 | ||||
Investment securities held-to-maturity, at amortized cost | 97,973 | 100,903 | |||||
Other investment securities | |||||||
FHLB Stock | 59,111 | 59,387 | |||||
FRB stock | 94,559 | 97,740 | |||||
Trust preferred securities fair value | 13,198 | 13,198 | |||||
Other investments | 1,923 | 1,923 | |||||
Total other investment securities | 168,791 | 172,248 | |||||
Loans held-for-sale | 72,076 | 137,000 | |||||
FDIC loss-share asset | 152,467 | 310,221 | |||||
Mortgage servicing rights | 200,354 | 211,405 | |||||
Derivatives | 13,427 | 16,959 | |||||
Deposits | |||||||
Demand deposits | 22,425,039 | 19,044,355 | |||||
Time deposits | 7,902,006 | 8,165,368 | |||||
Total deposits | 30,327,045 | 27,209,723 | |||||
Federal funds purchased and assets sold under agreements to repurchase | 765,251 | 762,145 | |||||
Other short-term borrowings | [6] | 1,200 | 1,200 | ||||
Notes payable: | |||||||
Advances with the FHLB | 696,628 | 761,501 | |||||
Senior Long Term Notes | 444,268 | 442,704 | |||||
Junior Subordinated Debenture Owed To Unconsolidated Subsidiary Trust | 439,316 | 439,295 | |||||
Others | 18,321 | 19,008 | |||||
Notes Payable | 1,598,533 | 1,662,508 | |||||
Derivatives | 11,214 | 14,343 | |||||
Contingent consideration | 135,122 | 120,380 | |||||
Carrying amount | Obligations of Puerto Rico, States and political subdivisions | |||||||
Financial Assets: | |||||||
Investment securities held-to-maturity, at amortized cost | 95,895 | 98,817 | |||||
Carrying amount | Collateralized Mortgage Obligations - Federal agencies | |||||||
Financial Assets: | |||||||
Investment securities held-to-maturity, at amortized cost | 78 | 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 | 22,070,379 | 21,843,180 | |||||
Carrying amount | Covered loans | |||||||
Other investment securities | |||||||
Loans held in portfolio, net | 557,949 | 611,939 | |||||
Fair value | |||||||
Financial Assets: | |||||||
Cash And Cash Equivalents Fair Value Disclosure | 350,545 | 363,674 | |||||
Money Market Investments Fair Value | 3,963,495 | 2,180,092 | |||||
Trading account securities, excluding derivatives | 72,584 | 71,659 | [5] | ||||
Available For Sale Securities | 7,628,656 | 6,062,992 | [5] | ||||
Held To Maturity Securities Fair Value | 79,410 | 82,889 | |||||
Other investment securities | |||||||
FHLB Stock | 59,111 | 59,387 | |||||
FRB stock | 94,559 | 97,740 | |||||
Trust preferred securities | 13,198 | 13,198 | |||||
Other investments | 5,209 | 4,966 | |||||
Total other investment securities | 172,077 | 175,291 | |||||
Loans held-for-sale | 74,256 | 139,395 | |||||
F D I C Indemnification Asset Fair Value Portion | 144,674 | 313,224 | |||||
Mortgage servicing rights | 200,354 | 211,405 | |||||
Derivatives | 13,427 | 16,959 | |||||
Deposits | |||||||
Demand deposits | 22,425,039 | 19,044,355 | |||||
Time deposits | 7,891,718 | 8,134,029 | |||||
Deposits | 30,316,757 | 27,178,384 | |||||
Federal funds purchased and assets sold under agreements to repurchase | 764,738 | 764,599 | |||||
Other short-term borrowings | 1,200 | 1,200 | [6] | ||||
Notes payable: | |||||||
FHLB advances | 707,420 | 780,411 | |||||
Unsecured senior debt securities | 464,589 | 435,186 | |||||
Junior subordinated deferrable interest debentures | 401,796 | 352,673 | |||||
Others | 18,321 | 19,008 | |||||
Notes payable | 1,592,126 | 1,587,278 | |||||
Derivatives | 11,214 | 14,343 | |||||
Contingent consideration | 135,122 | 120,380 | |||||
Fair value | Obligations of Puerto Rico, States and political subdivisions | |||||||
Financial Assets: | |||||||
Held To Maturity Securities Fair Value | 77,366 | 80,815 | |||||
Fair value | Collateralized Mortgage Obligations - Federal agencies | |||||||
Financial Assets: | |||||||
Held To Maturity Securities Fair Value | 83 | 91 | |||||
Fair value | Other | |||||||
Financial Assets: | |||||||
Held To Maturity Securities Fair Value | 1,961 | 1,983 | |||||
Fair value | Non-covered loans | |||||||
Other investment securities | |||||||
Loans Receivable, Fair Value Disclosure | 20,416,444 | 20,849,150 | |||||
Fair value | Covered loans | |||||||
Other investment securities | |||||||
Loans Receivable, Fair Value Disclosure | $ 553,431 | $ 593,002 | |||||
[1] | Includes $4.2 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 $3.3 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 $96.2 million pledged to secure public and trust deposits that the secured parties are not permitted to sell or repledge the collateral. | ||||||
[4] | Includes $57.2 million pledged to secure public and trust deposits that the secured parties are not permitted to sell or repledge the collateral. | ||||||
[5] | Refer to Note 26 to the consolidated financial statements for the fair value by class of financial asset and its hierarchy level. | ||||||
[6] | Refer to Note 18 to the consolidated financial statements for the composition of other short-term borrowings. |
Note Fair Value of financial187
Note Fair Value of financial instruments- Additional Information (Detail) - Notional amount - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Fair Value Disclosures | ||
Lines Of Credit Fair Value Disclosure | $ 43 | $ 52 |
Commitments, Fair Value Disclosure | $ 7,600 | $ 7,400 |
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 | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items] | ||||
Preferred stock dividends | $ (930) | $ (931) | $ (2,792) | $ (2,792) |
Net income (loss) applicable to common stock | $ 45,880 | $ 84,709 | $ 218,004 | $ 755,126 |
Average common shares outstanding | 103,296,443 | 102,969,214 | 103,243,851 | 102,923,018 |
Average potential dilutive common shares | 168,942 | 181,268 | 140,098 | 214,744 |
Average common shares outstanding - assuming dilution | 103,465,385 | 103,150,482 | 103,383,949 | 103,137,762 |
Net Income per Common Share - Basic | $ 0.44 | $ 0.82 | $ 2.11 | $ 7.34 |
Net Income per Common Share - Diluted | $ 0.44 | $ 0.82 | $ 2.11 | $ 7.32 |
Continuing Operations | ||||
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items] | ||||
Income (loss) from continuing operations | $ 46,810 | $ 85,649 | $ 220,796 | $ 756,571 |
Net income from continuing operations - Basic | $ 0.44 | $ 0.82 | $ 2.11 | $ 7.33 |
Net income from continuing operations - Diluted | $ 0.44 | $ 0.82 | $ 2.11 | $ 7.31 |
Discontinued Operations | ||||
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items] | ||||
Income Loss From Discontinued Operations Net Of Tax | $ 0 | $ (9) | $ 0 | $ 1,347 |
Net income from discontinued operations - Basic | $ 0 | $ 0 | $ 0 | $ 0.01 |
Net income from discontinued operations - Diluted | $ 0 | $ 0 | $ 0 | $ 0.01 |
Note Net income (loss) per comm
Note Net income (loss) per common share - Additional Information (Detail) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 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 | 0 | 0 |
Note Other services fees (Detai
Note Other services fees (Detail) - Continuing Operations - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Component of Operating Other Cost and Expense [Line Items] | ||||
Debit card fees | $ 11,483 | $ 11,288 | $ 34,153 | $ 34,408 |
Insurance fees | 15,943 | 14,517 | 42,678 | 40,163 |
Credit card fees and discounts | 17,644 | 16,879 | 52,202 | 50,639 |
Sale and administration of investment products | 5,542 | 5,737 | 15,798 | 18,269 |
Trust fees | 4,968 | 4,403 | 14,029 | 13,919 |
Other fees | 3,589 | 3,291 | 10,636 | 11,764 |
Total other services fees | $ 59,169 | $ 56,115 | $ 169,496 | $ 169,162 |
Note FDIC loss share (expense)
Note FDIC loss share (expense) income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | ||
F D I C Loss Share Expense Income [Line Items] | |||||
Amortization of loss share indemnification asset | $ (1,259) | $ (3,931) | $ (9,337) | $ (62,312) | |
80% mirror accounting on credit impairment losses (reversal) | [1] | 659 | (183) | (959) | 15,710 |
80% mirror accounting on reimbursable expenses | 853 | 6,276 | 7,038 | 70,551 | |
80% mirror accounting on recoveries on covered assets, including rental income on OREOs, subject to reimbursement to the FDIC | (522) | 0 | (5,123) | (7,822) | |
Change in true-up payment obligation | (6,611) | (1,058) | (14,742) | 6,778 | |
Arbitration award expense | [2] | (54,924) | 0 | (54,924) | 0 |
Other | 81 | 103 | 602 | 1,516 | |
Continuing Operations | |||||
F D I C Loss Share Expense Income [Line Items] | |||||
FDIC loss share (expense) income | $ (61,723) | $ 1,207 | $ (77,445) | $ 24,421 | |
[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. | ||||
[2] | Refer to Note 23, Commitments and Contingencies, for additional information on the FDIC arbitration award. |
Note FDIC loss share (expens192
Note FDIC loss share (expense) income (Parenthetical) (Detail) | 9 Months Ended |
Sep. 30, 2016 | |
FDIC | |
F D I C Loss Share Expense Income [Line Items] | |
Loss Sharing Agreement Allocation Percentage | 80.00% |
Note Pension and postretirement
Note Pension and postretirement benefits (Components of net periodic pension cost) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Pension Plans, Defined Benefit [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Interest cost | $ 6,291 | $ 7,403 | $ 18,873 | $ 22,209 |
Expected return on plan assets | (9,623) | (11,056) | (28,869) | (33,168) |
Amortization of net loss (gain) | 4,881 | 4,465 | 14,640 | 13,395 |
Total net periodic pension cost | 1,549 | 812 | 4,644 | 2,436 |
Other Pension Plans Defined Benefit Member | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Interest cost | 348 | 407 | 1,044 | 1,222 |
Expected return on plan assets | (538) | (589) | (1,614) | (1,768) |
Amortization of net loss (gain) | 332 | 311 | 996 | 933 |
Total net periodic pension cost | $ 142 | $ 129 | $ 426 | $ 387 |
Note Pension and postretirem194
Note Pension and postretirement benefits (Components of net periodic postretirement benefit cost) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Pension and Other Postretirement Benefits Disclosure [Line Items] | ||||
Amortization of prior service cost | $ (950) | $ (950) | $ (2,850) | $ (2,850) |
Other Postretirement Benefit Plans Defined Benefit [Member] | ||||
Pension and Other Postretirement Benefits Disclosure [Line Items] | ||||
Service cost | 289 | 367 | 867 | 1,103 |
Interest cost | 1,505 | 1,589 | 4,515 | 4,767 |
Amortization of prior service cost | (950) | (950) | (2,850) | (2,850) |
Amortization of net loss (gain) | 275 | 249 | 825 | 747 |
Total net periodic pension cost | $ 1,119 | $ 1,255 | $ 3,357 | $ 3,767 |
Note Pension and postretirem195
Note Pension and postretirement benefits - Additional information (Detail) $ in Millions | 3 Months Ended |
Sep. 30, 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 | $ 60.2 |
Defined Benefit Plan Contributions By Employer | 60 |
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 | 6.4 |
Defined Benefit Plan Contributions By Employer | $ 1.6 |
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 | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Roll Forward | |||||
Granted | 0 | 0 | 279,890 | 231,830 | |
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 | 344,488 | 323,814 | |||
Quantity adjusted by TSR factor | 51,340 | ||||
Vested | (429,984) | (430,646) | |||
Forfeited | (1,991) | (25,446) | |||
Ending Balance | 459,584 | 459,584 | 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 | 25.86 | 33.37 | |||
Quantity adjusted by TSR factor | 26.13 | ||||
Vested | 27.39 | 30.45 | |||
Forfeited | 31.5 | 28.65 | |||
Non-vested at end of period | $ 27.01 | $ 27.01 | $ 28.25 |
Note Stock-based compensatio197
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 | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 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 | 0 | 1,994 | 40,517 | 20,023 | 22,119 |
Vested | (40,517) | (22,119) | |||
Forfeited | 0 | 0 | |||
Ending Balance | 0 | 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 | 29.77 | 32.29 | |||
Vested | 29.77 | 32.29 | |||
Forfeited | 0 | 0 | |||
Non-vested at end of period | $ 0 | $ 0 | $ 0 |
Note Stock-based compensation -
Note Stock-based compensation - Additional Information (Detail) - USD ($) $ / shares in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Mar. 31, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | ||||||
Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period | 10 years | |||||
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized | $ 8,500,000 | $ 8,500,000 | ||||
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition | 2 years 5 months | |||||
Stock Option Plan Expense | 0 | $ 0 | $ 0 | $ 0 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 0 | $ 0 | 0 | 0 | ||
Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options | $ (30,000) | $ 171,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period | 44,797 | 0 | ||||
Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price | $ 272 | |||||
Employee Stock Option | ||||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | ||||||
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. | |||||
Restricted Stock Units (RSUs) | ||||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | ||||||
Nonrecognized Windfall | $ 87,000 | |||||
Windfall Net Of Shortfall | $ 100,000 | |||||
Restricted Stock Units (RSUs) | TARP Interim Final Rule | ||||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights | 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 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 2014 and thereafter 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 attaining 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 | 0 | 0 | 279,890 | 231,830 | ||
Restricted Stock Expense | $ 1,000,000 | $ 1,900,000 | $ 6,600,000 | $ 9,400,000 | ||
Employee Service Share Based Compensation Tax Benefit From Compensation Expense | $ 200,000 | $ 300,000 | 1,200,000 | $ 1,400,000 | ||
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value | 6,500,000 | |||||
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 | $ 6,800,000 | |||||
Restricted Stock Units (RSUs) | Executive Officers | 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 | 0 | |||
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 | 0 | 1,994 | 40,517 | 20,023 | 22,119 | |
Restricted Stock Expense | $ 300,000 | $ 100,000 | $ 800,000 | $ 400,000 | ||
Employee Service Share Based Compensation Tax Benefit From Compensation Expense | $ 31,000 | $ 24,000 | 84,000 | $ 59,000 | ||
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value | $ 1,200,000 | |||||
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 | 0 | 0 | 64,598 | 91,984 | ||
Restricted Stock Expense | $ 100,000 | $ 95,000 | $ 1,300,000 | $ 2,100,000 | ||
Employee Service Share Based Compensation Tax Benefit From Compensation Expense | $ 11,000 | $ 6,000 | $ 100,000 | $ 200,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights | The number of shares that will ultimately vest ranges from 50% to a 150% of target based on both market (TSR) and performance (EPS) conditions. The 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. |
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) - PUERTO RICO - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Amount | ||||
Computed income tax at statutory rates | $ 24,434 | $ 42,225 | $ 117,525 | $ 108,508 |
Net benefit of net tax exempt interest income | (15,620) | (14,615) | (47,094) | (45,784) |
Deferred tax asset valuation allowance | 5,698 | (670) | 14,407 | (537,737) |
Difference in tax rates due to multiple jurisdictions | (897) | (1,129) | (2,874) | (1,946) |
State and local taxes | 1,557 | 586 | 6,642 | 3,305 |
Income tax expense | $ 15,839 | $ 22,620 | $ 80,550 | $ (478,344) |
% of pre-tax income | ||||
Computed income tax at statutory rates | 39.00% | 39.00% | 39.00% | 39.00% |
Net benefit of net tax exempt interest income | (25.00%) | (13.00%) | (16.00%) | (16.00%) |
Deferred tax asset valuation allowance | 9.00% | (1.00%) | 5.00% | (193.00%) |
Difference in tax rates due to multiple jurisdictions | (1.00%) | (1.00%) | (1.00%) | (1.00%) |
State and local taxes | 2.00% | 0.00% | 2.00% | 1.00% |
Income tax (benefit) expense | 25.00% | 21.00% | 26.00% | (172.00%) |
Effect Of Income Subject To Preferential Tax Rate | ||||
Amount | ||||
Income tax reconciliation, other deductions | $ 6,364 | $ (3,610) | $ (1,772) | $ (5,488) |
% of pre-tax income | ||||
Effective Income Tax Rate Reconciliation Deductions Other | 10.00% | (3.00%) | (1.00%) | (2.00%) |
Others | ||||
Amount | ||||
Other | $ (1,255) | $ (167) | $ (1,842) | $ 798 |
% of pre-tax income | ||||
Effective Income Tax Rate Reconciliation Deductions Other | (2.00%) | 0.00% | (1.00%) | 0.00% |
Unrecognized tax benefits | ||||
Amount | ||||
Unrecognized tax benefits | $ (4,442) | $ 0 | $ (4,442) | $ 0 |
% of pre-tax income | ||||
Others | (7.00%) | 0.00% | (1.00%) | 0.00% |
Note Income taxes (Components o
Note Income taxes (Components of deferred tax assets and liabilities) (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Deferred tax assets: | ||
Tax credits available for carryforward | $ 18,569 | $ 13,651 |
Net operating loss and other carryforward available | 1,244,901 | 1,262,197 |
Postretirement and pension benefits | 88,679 | 116,036 |
Allowance for loan losses | 659,312 | 670,592 |
Accelerated depreciation | 9,345 | 8,335 |
Difference in outside basis from pass-through entities | 13,186 | 12,684 |
Other temporary differences | 32,482 | 29,208 |
Total gross deferred tax assets | 2,079,491 | 2,127,832 |
Deferred tax liabilities: | ||
FDIC-assisted transaction | 80,947 | 90,778 |
Indefinite-lived intangibles | 71,375 | 63,573 |
Unrealized net gain on trading and available-for-sale securities | 42,268 | 22,281 |
Other temporary differences | 8,343 | 6,670 |
Total gross deferred tax liabilities | 202,933 | 183,302 |
Valuation allowance | 646,606 | 642,727 |
Net deferred tax asset | 1,229,952 | 1,301,803 |
Deferred loans origination fees | ||
Deferred tax assets: | ||
Deferred income | 5,657 | 6,420 |
Deferred gain | ||
Deferred tax assets: | ||
Deferred income | 5,131 | 5,966 |
Intercompany deferred gains | ||
Deferred tax assets: | ||
Deferred income | $ 2,229 | $ 2,743 |
Note Income taxes (Reconciliati
Note Income taxes (Reconciliation of unrecognized tax benefits) (Detail) - USD ($) $ in Millions | 3 Months Ended | |||||
Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | |
Income Tax Disclosure | ||||||
Beginning Balance | $ 9.7 | $ 9.4 | $ 9 | $ 8.1 | $ 7.8 | $ 8 |
Addition for tax positions | 0.3 | 0.3 | 0.2 | 0.6 | 0.3 | 0.3 |
Additions for tax positions taken in prior years | 0.1 | 0.2 | 0 | 0 | ||
Reduction as a result of lapse of statute of limitations | (3) | 0 | ||||
Reduction as a result of settlements | 0 | (0.5) | ||||
Ending Balance | $ 7.1 | $ 9.7 | $ 9.4 | $ 8.7 | $ 8.1 | $ 7.8 |
Note Income taxes - Additional
Note Income taxes - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Income Taxes | |||||
Deferred Tax Assets Net | $ 1,231,356 | $ 1,231,356 | $ 1,302,452 | ||
Unrecognized Tax Benefits Interest On Income Taxes Accrued | 2,800 | 2,800 | 3,200 | ||
Unrecognized Tax Benefits That Would Impact Effective Tax Rate | 8,600 | 8,600 | 11,200 | ||
Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit | 4,800 | 4,800 | |||
Unrecognized Tax Benefits Current Interest On Income Taxes Accrued | 1,000 | 1,000 | 57 | ||
Deferred Tax Liabilities | 202,933 | 202,933 | 183,302 | ||
Deferred Tax Assets Valuation Allowance | 646,606 | 646,606 | 642,727 | ||
Interest Expense Reversal Due To Expiration Of The Statute Of Limitation | 1,400 | ||||
Other liabilities | |||||
Income Taxes | |||||
Deferred Tax Liabilities | 1,400 | 1,400 | 649 | ||
PUERTO RICO | |||||
Income Taxes | |||||
Deferred Tax Assets Net | 697,000 | 697,000 | |||
Income Tax Expense Benefit | 15,839 | $ 22,620 | 80,550 | $ (478,344) | |
PUERTO RICO | Unrecognized tax benefits [Member] | |||||
Income Taxes | |||||
Unrecognized tax benefits | (4,442) | $ 0 | (4,442) | 0 | |
UNITED STATES | |||||
Income Taxes | |||||
Deferred Tax Assets Net | $ 1,100,000 | ||||
Income Tax Reconciliation Change in Deferred Tax Asset | $ 544,900 | ||||
Deferred Tax Assets Valuation Allowance | 602,000 | 602,000 | |||
Popular, Inc. Holding Co. | PUERTO RICO | |||||
Income Taxes | |||||
Deferred Tax Assets Valuation Allowance | $ 45,000 | $ 45,000 |
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 | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | ||
Cash Flow Noncash Investing And Financing Activities Disclosure Abstract | ||||
Transfers Of Loans To Other Real Estate Owned | $ 93,412 | $ 104,778 | ||
Transfers Of Loans To Other Property | 22,408 | 29,034 | ||
Total loans transferred to foreclosed assets | 115,820 | 133,812 | ||
Financed sales of other real estate assets | 11,861 | 19,469 | ||
Financed sales of other foreclosed assets | 13,426 | 19,516 | ||
Total financed sales of other foreclosed and real estate assets | 25,287 | 38,985 | ||
Transfer Of Portfolio Loans And Leases To Held For Sale 1 | 0 | 72,501 | ||
Transfer Of Loans Held For Sale To Portfolio Loans 1 | 5,947 | 9,113 | ||
Transfers Of Trading Securities To Available For Sale Securities | 0 | 5,523 | ||
Noncash Transfer To Securities From Loans Resulting From Securitization | [1] | 594,094 | 825,126 | |
Trades receivables from brokers and counterparties | 80,125 | 125,625 | $ 78,759 | |
Trades Payables To Brokers And Counterparties | 22,174 | 24,812 | ||
Recognition of mortgage servicing rights on securitizations or asset transfers | $ 7,886 | $ 10,798 | ||
[1] | Includes loans securitized into trading securities and subsequently sold before quarter end. |
Note Supplemental disclosure204
Note Supplemental disclosure on the consolidated statements of cash flows (Additional Information) (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Disclosure - Additional Disclosures on Cash Flow Information and Non-Cash Activities [Abstract] | ||
Cash Acquired From Acquisition | $ 0 | $ 731,279 |
Note Segment reporting (Results
Note Segment reporting (Results of Operations) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Segment Reporting Information [Line Items] | |||||
Provision for loan losses | $ (43,344) | $ (66,678) | $ (128,651) | $ (182,947) | |
Amortization of intangibles | 9,308 | 8,497 | |||
Goodwill impairment charge | 3,801 | 0 | |||
Depreciation expense | 34,725 | 35,459 | |||
Assets | 39,054,296 | 39,054,296 | $ 35,761,733 | ||
Continuing Operations | |||||
Segment Reporting Information [Line Items] | |||||
Net Interest income (expense) | 353,687 | 350,735 | 1,066,650 | 1,056,483 | |
Provision for loan losses | 43,344 | 66,678 | 128,651 | 182,947 | |
Non interest Income | 75,978 | 131,109 | 298,111 | 387,103 | |
Amortization of intangibles | 3,097 | 3,512 | 9,308 | 8,497 | |
Goodwill impairment charge | 3,801 | 0 | 3,801 | 0 | |
Depreciation expense | 11,584 | 11,510 | 34,725 | 35,459 | |
Other operating expenses | 305,190 | 291,875 | 886,930 | 938,456 | |
Income tax expense | 15,839 | 22,620 | 80,550 | (478,344) | |
Income (loss) from continuing operations | 46,810 | 85,649 | 220,796 | 756,571 | |
Assets | 39,054,296 | 35,530,794 | 39,054,296 | 35,530,794 | |
Continuing Operations | Intersegment Elimination | |||||
Segment Reporting Information [Line Items] | |||||
Net Interest income (expense) | (281) | 0 | (281) | 0 | |
Provision for loan losses | 0 | 0 | 0 | 0 | |
Non interest Income | 28 | 0 | 28 | 125 | |
Amortization of intangibles | 0 | 0 | 0 | 0 | |
Goodwill impairment charge | 0 | 0 | |||
Depreciation expense | 0 | 0 | 0 | 0 | |
Other operating expenses | (639) | 0 | (639) | 0 | |
Income tax expense | 162 | 0 | 162 | 0 | |
Income (loss) from continuing operations | 224 | 0 | 224 | 125 | |
Assets | (16,818) | (133,472) | (16,818) | (133,472) | |
Continuing Operations | Reportable Segment | |||||
Segment Reporting Information [Line Items] | |||||
Net Interest income (expense) | 368,714 | 366,249 | 1,112,187 | 1,102,978 | |
Provision for loan losses | 43,377 | 66,824 | 128,686 | 182,867 | |
Non interest Income | 65,862 | 122,191 | 272,869 | 363,417 | |
Amortization of intangibles | 3,097 | 3,512 | 9,308 | 8,497 | |
Goodwill impairment charge | 3,801 | 3,801 | |||
Depreciation expense | 11,440 | 11,332 | 34,228 | 34,906 | |
Other operating expenses | 293,186 | 274,714 | 838,287 | 885,132 | |
Income tax expense | 20,678 | 29,152 | 103,410 | (458,983) | |
Income (loss) from continuing operations | 58,997 | 102,906 | 267,336 | 813,976 | |
Assets | 38,837,342 | 35,311,821 | 38,837,342 | 35,311,821 | |
Continuing Operations | Corporate | |||||
Segment Reporting Information [Line Items] | |||||
Net Interest income (expense) | (15,140) | (15,514) | (45,537) | (46,495) | |
Provision for loan losses | (33) | (146) | (35) | 80 | |
Non interest Income | 10,468 | 8,974 | 26,707 | 25,099 | |
Amortization of intangibles | 0 | 0 | 0 | 0 | |
Goodwill impairment charge | 0 | 0 | |||
Depreciation expense | 144 | 178 | 497 | 553 | |
Other operating expenses | 12,164 | 17,841 | 50,613 | 55,434 | |
Income tax expense | (4,807) | (6,775) | (23,068) | (19,633) | |
Income (loss) from continuing operations | (12,140) | (17,638) | (46,837) | (57,830) | |
Assets | 4,949,819 | 4,916,194 | 4,949,819 | 4,916,194 | |
Continuing Operations | Eliminations | |||||
Segment Reporting Information [Line Items] | |||||
Net Interest income (expense) | 113 | 0 | 0 | 0 | |
Provision for loan losses | 0 | 0 | 0 | 0 | |
Non interest Income | (352) | (56) | (1,465) | (1,413) | |
Amortization of intangibles | 0 | 0 | 0 | 0 | |
Goodwill impairment charge | 0 | 0 | |||
Depreciation expense | 0 | 0 | 0 | 0 | |
Other operating expenses | (160) | (680) | (1,970) | (2,110) | |
Income tax expense | (32) | 243 | 208 | 272 | |
Income (loss) from continuing operations | (47) | 381 | 297 | 425 | |
Assets | (4,732,865) | (4,697,221) | (4,732,865) | (4,697,221) | |
Banco Popular de Puerto Rico | |||||
Segment Reporting Information [Line Items] | |||||
Goodwill impairment charge | 3,801 | 0 | |||
Banco Popular de Puerto Rico | Continuing Operations | Reportable Segment | |||||
Segment Reporting Information [Line Items] | |||||
Net Interest income (expense) | 303,656 | 303,834 | 919,366 | 926,531 | |
Provision for loan losses | 37,064 | 66,011 | 116,987 | 184,317 | |
Non interest Income | 60,453 | 116,765 | 257,260 | 346,030 | |
Amortization of intangibles | 2,931 | 3,194 | 8,809 | 7,756 | |
Goodwill impairment charge | 3,801 | 3,801 | |||
Depreciation expense | 9,774 | 9,964 | 29,885 | 30,175 | |
Other operating expenses | 246,451 | 232,211 | 705,825 | 739,672 | |
Income tax expense | 14,479 | 27,778 | 77,651 | 82,539 | |
Income (loss) from continuing operations | 49,609 | 81,441 | 233,668 | 228,102 | |
Assets | 30,403,259 | 27,968,091 | 30,403,259 | 27,968,091 | |
Banco Popular de Puerto Rico | Commercial Banking | Continuing Operations | Reportable Segment | |||||
Segment Reporting Information [Line Items] | |||||
Net Interest income (expense) | 116,362 | 111,605 | 355,061 | 346,189 | |
Provision for loan losses | 13,213 | 21,285 | 26,969 | 86,422 | |
Non interest Income | (24,191) | 30,997 | 16,776 | 95,584 | |
Amortization of intangibles | 22 | 7 | 92 | 13 | |
Goodwill impairment charge | 0 | 0 | |||
Depreciation expense | 4,188 | 3,682 | 12,735 | 12,727 | |
Other operating expenses | 60,630 | 55,591 | 183,706 | 224,719 | |
Income tax expense | 7,542 | 19,845 | 48,939 | 32,503 | |
Income (loss) from continuing operations | 6,576 | 42,192 | 99,396 | 85,389 | |
Assets | 16,032,323 | 11,523,460 | 16,032,323 | 11,523,460 | |
Banco Popular de Puerto Rico | Consumer and Retail Banking | Continuing Operations | Reportable Segment | |||||
Segment Reporting Information [Line Items] | |||||
Net Interest income (expense) | 186,445 | 185,220 | 557,489 | 569,306 | |
Provision for loan losses | 23,851 | 44,726 | 90,018 | 97,895 | |
Non interest Income | 59,284 | 62,367 | 168,860 | 183,362 | |
Amortization of intangibles | 1,838 | 2,056 | 5,484 | 5,740 | |
Goodwill impairment charge | 0 | 0 | |||
Depreciation expense | 5,380 | 6,005 | 16,491 | 16,599 | |
Other operating expenses | 165,124 | 158,842 | 467,448 | 463,224 | |
Income tax expense | 6,894 | 6,813 | 24,410 | 44,121 | |
Income (loss) from continuing operations | 42,642 | 29,145 | 122,498 | 125,089 | |
Assets | 17,753,118 | 16,299,451 | 17,753,118 | 16,299,451 | |
Banco Popular de Puerto Rico | Other Financial Services | Continuing Operations | Reportable Segment | |||||
Segment Reporting Information [Line Items] | |||||
Net Interest income (expense) | 1,379 | 2,186 | 4,674 | 6,209 | |
Provision for loan losses | 0 | 0 | 0 | 0 | |
Non interest Income | 25,444 | 23,501 | 71,883 | 67,379 | |
Amortization of intangibles | 1,071 | 1,131 | 3,233 | 2,003 | |
Goodwill impairment charge | 3,801 | 3,801 | |||
Depreciation expense | 206 | 277 | 659 | 849 | |
Other operating expenses | 20,781 | 17,878 | 54,930 | 52,024 | |
Income tax expense | 43 | 1,120 | 4,302 | 5,915 | |
Income (loss) from continuing operations | 921 | 5,281 | 9,632 | 12,797 | |
Assets | 371,027 | 503,062 | 371,027 | 503,062 | |
Banco Popular de Puerto Rico | Eliminations | Continuing Operations | Reportable Segment | |||||
Segment Reporting Information [Line Items] | |||||
Net Interest income (expense) | (530) | 4,823 | 2,142 | 4,827 | |
Provision for loan losses | 0 | 0 | 0 | 0 | |
Non interest Income | (84) | (100) | (259) | (295) | |
Amortization of intangibles | 0 | 0 | 0 | 0 | |
Goodwill impairment charge | 0 | 0 | |||
Depreciation expense | 0 | 0 | 0 | 0 | |
Other operating expenses | (84) | (100) | (259) | (295) | |
Income tax expense | 0 | 0 | 0 | 0 | |
Income (loss) from continuing operations | (530) | 4,823 | 2,142 | 4,827 | |
Assets | (3,753,209) | (357,882) | (3,753,209) | (357,882) | |
Banco Popular North America | |||||
Segment Reporting Information [Line Items] | |||||
Goodwill impairment charge | 0 | 0 | |||
Banco Popular North America | Continuing Operations | Reportable Segment | |||||
Segment Reporting Information [Line Items] | |||||
Net Interest income (expense) | 65,339 | 62,415 | 193,102 | 176,447 | |
Provision for loan losses | 6,313 | 813 | 11,699 | (1,450) | |
Non interest Income | 5,381 | 5,426 | 15,581 | 17,262 | |
Amortization of intangibles | 166 | 318 | 499 | 741 | |
Goodwill impairment charge | 0 | 0 | |||
Depreciation expense | 1,666 | 1,368 | 4,343 | 4,731 | |
Other operating expenses | 47,374 | 42,503 | 133,101 | 145,460 | |
Income tax expense | 6,037 | 1,374 | 25,597 | (541,522) | |
Income (loss) from continuing operations | 9,164 | 21,465 | 33,444 | 585,749 | |
Assets | $ 8,450,901 | $ 7,477,202 | $ 8,450,901 | $ 7,477,202 |
Note Segment reporting (Geograp
Note Segment reporting (Geographic information) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | ||
Segment Reporting Information [Line Items] | |||||
Net Revenue | [1] | $ 429,665 | $ 481,844 | $ 1,364,761 | $ 1,443,586 |
PUERTO RICO | |||||
Segment Reporting Information [Line Items] | |||||
Net Revenue | [1] | 333,006 | 395,086 | 1,097,944 | 1,196,112 |
UNITED STATES | |||||
Segment Reporting Information [Line Items] | |||||
Net Revenue | [1] | 77,816 | 67,418 | 209,999 | 191,363 |
Other | |||||
Segment Reporting Information [Line Items] | |||||
Net Revenue | [1] | $ 18,843 | $ 19,340 | $ 56,818 | $ 56,111 |
[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 | Sep. 30, 2016 | Dec. 31, 2015 | |
Segment Reporting Information [Line Items] | |||
Total assets | $ 39,054,296 | $ 35,761,733 | |
Deposits | 30,327,045 | 27,209,723 | |
PUERTO RICO | |||
Segment Reporting Information [Line Items] | |||
Total assets | 29,405,343 | 26,764,184 | |
Loans | 16,990,595 | 17,477,070 | |
Deposits | 23,410,341 | 20,893,232 | |
UNITED STATES | |||
Segment Reporting Information [Line Items] | |||
Total assets | 8,738,087 | 7,859,217 | |
Loans | 5,515,849 | 4,873,504 | |
Deposits | 5,857,025 | 5,288,886 | |
Other | |||
Segment Reporting Information [Line Items] | |||
Total assets | 910,866 | 1,138,332 | |
Loans | 749,815 | 778,656 | |
Deposits | [1] | $ 1,059,679 | $ 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 | 9 Months Ended | ||
Sep. 30, 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 September 30, 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 | $ 22,714,358 | $ 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 | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2014 | |||
Assets | |||||||
Cash And Due From Banks | $ 350,545 | $ 363,674 | |||||
Money market investments | 3,963,495 | 2,180,092 | |||||
Trading account securities, at fair value | 72,584 | 71,659 | |||||
Investment securities available-for-sale, at fair value | 7,628,656 | [1] | 6,062,992 | [2] | |||
Investment securities held-to-maturity, at amortized cost | 97,973 | [3] | 100,903 | [4] | |||
Other investment securities, at lower of cost or realizable value | 168,791 | 172,248 | |||||
Investment in subsidiaries | 0 | 0 | |||||
Loans held-for-sale, at lower of cost or fair value | 72,076 | 137,000 | |||||
Loans held-in-portfolio: | |||||||
Loans not covered under loss-sharing agreements with the FDIC | 22,714,358 | 22,453,813 | |||||
Loans covered under loss-sharing agreements with the FDIC | 588,211 | 646,115 | |||||
Less - Unearned income | 118,386 | 107,698 | |||||
Allowance for loan losses | 555,855 | 537,111 | |||||
Total loans held-in-portfolio, net | 22,628,328 | 22,455,119 | |||||
FDIC loss-share asset | 152,467 | 310,221 | |||||
Premises and equipment, net | 537,975 | 502,611 | |||||
Accrued income receivable | 119,691 | 124,234 | |||||
Mortgage servicing assets, at fair value | 200,354 | 211,405 | $ 210,851 | $ 148,694 | |||
Other assets | 2,163,939 | 2,193,162 | |||||
Goodwill | 627,294 | 626,388 | 504,925 | 465,676 | |||
Other intangible assets | 47,886 | 58,109 | |||||
Total assets | 39,054,296 | 35,761,733 | |||||
Deposits: | |||||||
Non-interest bearing | 6,950,287 | 6,401,515 | |||||
Interest bearing | 23,376,758 | 20,808,208 | |||||
Total deposits | 30,327,045 | 27,209,723 | |||||
Federal funds purchased and assets sold under agreements to repurchase | 765,251 | 762,145 | |||||
Other short-term borrowings | 1,200 | 1,200 | |||||
Notes payable | 1,598,533 | 1,662,508 | |||||
Other liabilities | 980,057 | 1,019,018 | |||||
Liabilities from discontinued operations | 1,815 | 1,815 | |||||
Total liabilities | 33,673,901 | 30,656,409 | |||||
Stockholders' equity: | |||||||
Preferred stock | 50,160 | 50,160 | |||||
Common stock | 1,040 | 1,038 | |||||
Surplus | 4,234,842 | 4,229,156 | |||||
Retained Earnings (Accumulated Deficit) | 1,259,295 | 1,087,957 | |||||
Treasury stock | (7,647) | (6,101) | |||||
Accumulated other comprehensive (loss) income, net of tax | [5] | (157,295) | (256,886) | (189,806) | |||
Total stockholders' equity | 5,380,395 | 5,105,324 | $ 5,049,636 | $ 4,267,382 | |||
Total liabilities and stockholders' equity | 39,054,296 | 35,761,733 | |||||
Non Covered Under Loss Sharing Agreements with FDIC | |||||||
Loans held-in-portfolio: | |||||||
Other real estate owned | 184,828 | 155,231 | |||||
Covered Under Loss Sharing Agreements With FDIC Member | |||||||
Loans held-in-portfolio: | |||||||
Loans covered under loss-sharing agreements with the FDIC | 588,211 | [6] | 646,115 | [7] | |||
Other real estate owned | 37,414 | 36,685 | |||||
Popular, Inc. Holding Co. | |||||||
Assets | |||||||
Cash And Due From Banks | 7,979 | 24,298 | |||||
Money market investments | 284,315 | 262,204 | |||||
Trading account securities, at fair value | 2,495 | 2,020 | |||||
Investment securities available-for-sale, at fair value | 0 | 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 | 5,791,238 | 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 | 1,152 | 1,176 | |||||
Loans covered under loss-sharing agreements with the FDIC | 0 | 0 | |||||
Less - Unearned income | 0 | 0 | |||||
Allowance for loan losses | 1 | 3 | |||||
Total loans held-in-portfolio, net | 1,151 | 1,173 | |||||
FDIC loss-share asset | 0 | 0 | |||||
Premises and equipment, net | 3,065 | 2,823 | |||||
Accrued income receivable | 91 | 85 | |||||
Mortgage servicing assets, at fair value | 0 | 0 | |||||
Other assets | 60,326 | 54,908 | |||||
Goodwill | 0 | 0 | |||||
Other intangible assets | 553 | 554 | |||||
Total assets | 6,161,144 | 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 | 735,079 | 733,516 | |||||
Other liabilities | 45,577 | 59,148 | |||||
Liabilities from discontinued operations | 0 | 0 | |||||
Total liabilities | 780,656 | 792,664 | |||||
Stockholders' equity: | |||||||
Preferred stock | 50,160 | 50,160 | |||||
Common stock | 1,040 | 1,038 | |||||
Surplus | 4,226,315 | 4,220,629 | |||||
Retained Earnings (Accumulated Deficit) | 1,267,822 | 1,096,484 | |||||
Treasury stock | (7,554) | (6,101) | |||||
Accumulated other comprehensive (loss) income, net of tax | (157,295) | (256,886) | |||||
Total stockholders' equity | 5,380,488 | 5,105,324 | |||||
Total liabilities and stockholders' equity | 6,161,144 | 5,897,988 | |||||
Popular, Inc. Holding Co. | Non Covered Under Loss Sharing Agreements with FDIC | |||||||
Loans held-in-portfolio: | |||||||
Other real estate owned | 81 | 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 | 593 | 600 | |||||
Money market investments | 13,096 | 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 | 1,843,518 | 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 | 35 | 115 | |||||
Mortgage servicing assets, at fair value | 0 | 0 | |||||
Other assets | 24,368 | 23,596 | |||||
Goodwill | 0 | 0 | |||||
Other intangible assets | 0 | 0 | |||||
Total assets | 1,886,102 | 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 | 148,505 | 148,483 | |||||
Other liabilities | 3,431 | 6,659 | |||||
Liabilities from discontinued operations | 0 | 0 | |||||
Total liabilities | 151,936 | 155,142 | |||||
Stockholders' equity: | |||||||
Preferred stock | 0 | 0 | |||||
Common stock | 2 | 2 | |||||
Surplus | 4,111,207 | 4,111,208 | |||||
Retained Earnings (Accumulated Deficit) | (2,392,906) | (2,416,251) | |||||
Treasury stock | 0 | 0 | |||||
Accumulated other comprehensive (loss) income, net of tax | 15,863 | (7,855) | |||||
Total stockholders' equity | 1,734,166 | 1,687,104 | |||||
Total liabilities and stockholders' equity | 1,886,102 | 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 | 350,244 | 363,620 | |||||
Money market investments | 3,964,980 | 2,179,887 | |||||
Trading account securities, at fair value | 70,210 | 69,639 | |||||
Investment securities available-for-sale, at fair value | 7,628,656 | 6,062,776 | |||||
Investment securities held-to-maturity, at amortized cost | 97,973 | 100,903 | |||||
Other investment securities, at lower of cost or realizable value | 154,449 | 157,906 | |||||
Investment in subsidiaries | 0 | 0 | |||||
Loans held-for-sale, at lower of cost or fair value | 72,076 | 137,000 | |||||
Loans held-in-portfolio: | |||||||
Loans not covered under loss-sharing agreements with the FDIC | 22,713,206 | 22,452,637 | |||||
Loans covered under loss-sharing agreements with the FDIC | 588,211 | 646,115 | |||||
Less - Unearned income | 118,386 | 107,698 | |||||
Allowance for loan losses | 555,854 | 537,108 | |||||
Total loans held-in-portfolio, net | 22,627,177 | 22,453,946 | |||||
FDIC loss-share asset | 152,467 | 310,221 | |||||
Premises and equipment, net | 534,910 | 499,788 | |||||
Accrued income receivable | 119,611 | 124,070 | |||||
Mortgage servicing assets, at fair value | 200,354 | 211,405 | |||||
Other assets | 2,093,102 | 2,132,616 | |||||
Goodwill | 627,294 | 626,388 | |||||
Other intangible assets | 47,333 | 57,555 | |||||
Total assets | 38,962,997 | 35,679,104 | |||||
Deposits: | |||||||
Non-interest bearing | 6,958,558 | 6,426,359 | |||||
Interest bearing | 23,675,654 | 21,094,138 | |||||
Total deposits | 30,634,212 | 27,520,497 | |||||
Federal funds purchased and assets sold under agreements to repurchase | 765,251 | 762,145 | |||||
Other short-term borrowings | 1,200 | 1,200 | |||||
Notes payable | 714,949 | 780,509 | |||||
Other liabilities | 945,500 | 971,429 | |||||
Liabilities from discontinued operations | 1,815 | 1,815 | |||||
Total liabilities | 33,062,927 | 30,037,595 | |||||
Stockholders' equity: | |||||||
Preferred stock | 0 | 0 | |||||
Common stock | 56,307 | 56,307 | |||||
Surplus | 5,698,605 | 5,712,635 | |||||
Retained Earnings (Accumulated Deficit) | 300,102 | 128,459 | |||||
Treasury stock | 0 | 0 | |||||
Accumulated other comprehensive (loss) income, net of tax | (154,944) | (255,892) | |||||
Total stockholders' equity | 5,900,070 | 5,641,509 | |||||
Total liabilities and stockholders' equity | 38,962,997 | 35,679,104 | |||||
All other subsidiaries and eliminations | Non Covered Under Loss Sharing Agreements with FDIC | |||||||
Loans held-in-portfolio: | |||||||
Other real estate owned | 184,747 | 154,699 | |||||
All other subsidiaries and eliminations | Covered Under Loss Sharing Agreements With FDIC Member | |||||||
Loans held-in-portfolio: | |||||||
Other real estate owned | 37,414 | 36,685 | |||||
Elimination | |||||||
Assets | |||||||
Cash And Due From Banks | (8,271) | (24,844) | |||||
Money market investments | (298,896) | (285,930) | |||||
Trading account securities, at fair value | (121) | 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 | (7,634,756) | (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 | (46) | (36) | |||||
Mortgage servicing assets, at fair value | 0 | 0 | |||||
Other assets | (13,857) | (17,958) | |||||
Goodwill | 0 | 0 | |||||
Other intangible assets | 0 | 0 | |||||
Total assets | (7,955,947) | (7,657,605) | |||||
Deposits: | |||||||
Non-interest bearing | (8,271) | (24,844) | |||||
Interest bearing | (298,896) | (285,930) | |||||
Total deposits | (307,167) | (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 | (14,451) | (18,218) | |||||
Liabilities from discontinued operations | 0 | 0 | |||||
Total liabilities | (321,618) | (328,992) | |||||
Stockholders' equity: | |||||||
Preferred stock | 0 | 0 | |||||
Common stock | (56,309) | (56,309) | |||||
Surplus | (9,801,285) | (9,815,316) | |||||
Retained Earnings (Accumulated Deficit) | 2,084,277 | 2,279,265 | |||||
Treasury stock | (93) | 0 | |||||
Accumulated other comprehensive (loss) income, net of tax | 139,081 | 263,747 | |||||
Total stockholders' equity | (7,634,329) | (7,328,613) | |||||
Total liabilities and stockholders' equity | (7,955,947) | (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 $4.2 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 $3.3 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 $96.2 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] | All amounts presented are net of tax. | ||||||
[6] | Includes $349 million pledged to secure credit facilities at the FHLB which are not permitted to sell or repledge the collateral. | ||||||
[7] | Includes $386 million pledged to secure credit facilities at the FHLB which are not permitted to sell or repledge the collateral. |
Condensed Consolidating Stat210
Condensed Consolidating Statement of Operations (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 18 Months Ended | ||||
Sep. 30, 2016 | Jun. 30, 2016 | Sep. 30, 2015 | Jun. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
INTEREST EXPENSE: | |||||||
Provision for loan losses | $ 128,651 | $ 182,947 | |||||
Other-than-temporary impairment on investment securities | (209) | (14,445) | |||||
Adjustments To Indemnity Reserves On Loans Sold | (14,234) | (9,981) | |||||
Operating expenses: | |||||||
Amortization of intangibles | 9,308 | 8,497 | |||||
Goodwill impairment charge | 3,801 | 0 | |||||
Equity in undistributed earnings (losses) of subsidiaries | 0 | 0 | |||||
Net Income | $ 46,810 | $ 85,640 | 220,796 | 757,918 | |||
Comprehensive Income Net Of Tax | 35,127 | 114,865 | 320,387 | 797,984 | |||
Continuing Operations | |||||||
INTEREST AND DIVIDEND INCOME: | |||||||
Dividend income from subsidiaries | 0 | 0 | 0 | 0 | |||
Loans | 363,550 | 364,458 | 1,096,468 | 1,094,222 | |||
Money market investments | 4,568 | 2,003 | 11,320 | 5,294 | |||
Investment securities | 37,732 | 31,671 | 110,728 | 93,269 | |||
Trading account securities | 1,449 | 3,150 | 5,013 | 8,872 | |||
Total interest and dividend income | 407,299 | 401,282 | 1,223,529 | 1,201,657 | |||
INTEREST EXPENSE: | |||||||
Deposits | 32,362 | 28,357 | 92,835 | 80,479 | |||
Short-term borrowings | 2,132 | 2,222 | 6,051 | 5,819 | |||
Interest Expense Long Term Debt | 19,118 | 19,968 | 57,993 | 58,876 | |||
Total interest expense | 53,612 | 50,547 | 156,879 | 145,174 | |||
Net interest income | 353,687 | 350,735 | 1,066,650 | 1,056,483 | |||
Net interest income after provision for loan losses | 310,343 | 284,057 | 937,999 | 873,536 | |||
Service charges on deposit accounts | 40,776 | 40,960 | 120,934 | 120,115 | |||
Other service fees | 59,169 | 56,115 | 169,496 | 169,162 | |||
Mortgage banking activities | 15,272 | 24,195 | 42,050 | 58,372 | |||
Net (loss) gain and valuation adjustments on investment securities | 349 | 136 | 1,932 | 141 | |||
Other-than-temporary impairment on investment securities | 0 | $ (209) | 0 | $ (14,445) | (209) | (14,445) | |
Trading account profit | (113) | (398) | 842 | (3,092) | |||
Net gain on sale of loans, including valuation adjustments on loans held-for-sale | 8,549 | 0 | 8,245 | 602 | |||
Adjustments To Indemnity Reserves On Loans Sold | (4,390) | (5,874) | (14,234) | (9,981) | |||
FDIC loss share (expense) income | (61,723) | 1,207 | (77,445) | 24,421 | |||
Other operating income | 18,089 | 14,768 | 46,500 | 41,808 | |||
Total non-interest income | 75,978 | 131,109 | 298,111 | 387,103 | |||
Operating expenses: | |||||||
Personnel costs | 121,224 | 120,863 | 365,023 | 358,298 | |||
Net occupancy expenses | 21,626 | 21,277 | 63,770 | 66,272 | |||
Equipment expenses | 15,922 | 14,739 | 45,731 | 44,075 | |||
Other taxes | 11,324 | 9,951 | 31,689 | 29,638 | |||
Professional fees | 81,266 | 77,154 | 237,350 | 231,131 | |||
Communications | 5,785 | 6,058 | 18,117 | 18,387 | |||
Business promotion | 12,726 | 12,325 | 37,541 | 36,914 | |||
FDIC deposit insurance | 5,854 | 7,300 | 18,586 | 22,240 | |||
Other real estate owned (O R E O) expenses | 11,295 | 7,686 | 33,416 | 75,571 | |||
Other operating expenses | 29,752 | 25,551 | 70,432 | 73,981 | |||
Amortization of intangibles | 3,097 | 3,512 | 9,308 | 8,497 | |||
Goodwill impairment charge | 3,801 | 0 | 3,801 | 0 | |||
Restructuring Costs | 0 | 481 | 0 | 17,408 | $ 45,100 | ||
Total operating expenses | 323,672 | 306,897 | 934,764 | 982,412 | |||
Income (loss) from continuing operations before income tax | 62,649 | 108,269 | 301,346 | 278,227 | |||
Income tax expense | 15,839 | 22,620 | 80,550 | (478,344) | |||
Income Loss Before Equity In Undistributed Earnings Of Subsidiaries | 46,810 | 85,649 | 220,796 | 756,571 | |||
Equity in undistributed earnings (losses) of subsidiaries | 0 | 0 | 0 | 0 | |||
Income (loss) from continuing operations | 46,810 | 85,649 | 220,796 | 756,571 | |||
Continuing Operations | Non Covered Under Loss Sharing Agreements with FDIC | |||||||
INTEREST EXPENSE: | |||||||
Provision for loan losses | 42,594 | 69,568 | 130,202 | 159,747 | |||
Continuing Operations | Covered Under Loss Sharing Agreements With FDIC Member | |||||||
INTEREST EXPENSE: | |||||||
Provision for loan losses | 750 | (2,890) | (1,551) | 23,200 | |||
Discontinued Operations | |||||||
Operating expenses: | |||||||
Income Loss From Discontinued Operations Net Of Tax | 0 | (9) | 0 | 1,347 | |||
Equity In Undistributed Earnings Losses Of Discontinued Operations | 0 | ||||||
Popular, Inc. Holding Co. | |||||||
INTEREST EXPENSE: | |||||||
Provision for loan losses | (36) | 81 | |||||
Other-than-temporary impairment on investment securities | 0 | 0 | |||||
Adjustments To Indemnity Reserves On Loans Sold | 0 | 0 | |||||
Operating expenses: | |||||||
Amortization of intangibles | 0 | 0 | |||||
Goodwill impairment charge | 0 | ||||||
Equity in undistributed earnings (losses) of subsidiaries | 164,996 | 764,069 | |||||
Net Income | 46,810 | 85,640 | 220,796 | 757,918 | |||
Comprehensive Income Net Of Tax | 35,127 | 114,865 | 320,387 | 797,984 | |||
Popular, Inc. Holding Co. | Continuing Operations | |||||||
INTEREST AND DIVIDEND INCOME: | |||||||
Dividend income from subsidiaries | 24,200 | 19,175 | 78,100 | 22,175 | |||
Loans | 21 | 190 | 60 | 499 | |||
Money market investments | 398 | 1 | 976 | 5 | |||
Investment securities | 141 | 143 | 522 | 476 | |||
Trading account securities | 0 | 0 | 0 | 0 | |||
Total interest and dividend income | 24,760 | 19,509 | 79,658 | 23,155 | |||
INTEREST EXPENSE: | |||||||
Deposits | 0 | 0 | 0 | 0 | |||
Short-term borrowings | 0 | 0 | 0 | 0 | |||
Interest Expense Long Term Debt | 13,118 | 13,118 | 39,353 | 39,353 | |||
Total interest expense | 13,118 | 13,118 | 39,353 | 39,353 | |||
Net interest income | 11,642 | 6,391 | 40,305 | (16,198) | |||
Net interest income after provision for loan losses | 11,675 | 6,537 | 40,341 | (16,279) | |||
Service charges on deposit accounts | 0 | 0 | 0 | 0 | |||
Other service fees | 0 | 0 | 0 | 0 | |||
Mortgage banking activities | 0 | 0 | 0 | 0 | |||
Net (loss) gain and valuation adjustments on investment securities | 184 | 0 | 1,767 | 0 | |||
Other-than-temporary impairment on investment securities | 0 | 0 | |||||
Trading account profit | 77 | (116) | 136 | (94) | |||
Net gain on sale of loans, including valuation adjustments on loans held-for-sale | 0 | 0 | 0 | ||||
Adjustments To Indemnity Reserves On Loans Sold | 0 | 0 | 0 | 0 | |||
FDIC loss share (expense) income | 0 | 0 | 0 | 0 | |||
Other operating income | 4,002 | 2,520 | 9,070 | 8,911 | |||
Total non-interest income | 4,263 | 2,404 | 10,973 | 8,817 | |||
Operating expenses: | |||||||
Personnel costs | 11,137 | 11,287 | 37,192 | 37,665 | |||
Net occupancy expenses | 939 | 894 | 2,700 | 2,661 | |||
Equipment expenses | 776 | 520 | 1,864 | 1,538 | |||
Other taxes | 46 | 46 | 140 | (759) | |||
Professional fees | 2,642 | 2,789 | 7,854 | 7,885 | |||
Communications | 140 | 137 | 417 | 362 | |||
Business promotion | 516 | 464 | 1,467 | 1,308 | |||
FDIC deposit insurance | 0 | 0 | 0 | 0 | |||
Other real estate owned (O R E O) expenses | (16) | 0 | 52 | 0 | |||
Other operating expenses | (19,795) | (19,896) | (56,173) | (52,016) | |||
Amortization of intangibles | 0 | 0 | 0 | 0 | |||
Goodwill impairment charge | 0 | 0 | |||||
Restructuring Costs | 0 | 0 | |||||
Total operating expenses | (3,615) | (3,759) | (4,487) | (1,356) | |||
Income (loss) from continuing operations before income tax | 19,553 | 12,700 | 55,801 | (6,106) | |||
Income tax expense | (2) | 45 | 1 | 45 | |||
Income Loss Before Equity In Undistributed Earnings Of Subsidiaries | 19,555 | 12,655 | 55,800 | (6,151) | |||
Equity in undistributed earnings (losses) of subsidiaries | 27,255 | 72,994 | 164,996 | 762,722 | |||
Income (loss) from continuing operations | 85,649 | 220,796 | 756,571 | ||||
Popular, Inc. Holding Co. | Continuing Operations | Non Covered Under Loss Sharing Agreements with FDIC | |||||||
INTEREST EXPENSE: | |||||||
Provision for loan losses | (33) | (146) | (36) | 81 | |||
Popular, Inc. Holding Co. | Continuing Operations | Covered Under Loss Sharing Agreements With FDIC Member | |||||||
INTEREST EXPENSE: | |||||||
Provision for loan losses | 0 | 0 | 0 | 0 | |||
Popular, Inc. Holding Co. | Discontinued Operations | |||||||
Operating expenses: | |||||||
Equity in undistributed earnings (losses) of subsidiaries | (9) | ||||||
Income Loss From Discontinued Operations Net Of Tax | 0 | 0 | |||||
Equity In Undistributed Earnings Losses Of Discontinued Operations | 1,347 | ||||||
PNA Holding Co. | |||||||
INTEREST EXPENSE: | |||||||
Provision for loan losses | 0 | 0 | |||||
Other-than-temporary impairment on investment securities | 0 | 0 | |||||
Adjustments To Indemnity Reserves On Loans Sold | 0 | 0 | |||||
Operating expenses: | |||||||
Amortization of intangibles | 0 | 0 | |||||
Goodwill impairment charge | 0 | ||||||
Equity in undistributed earnings (losses) of subsidiaries | 30,289 | 580,466 | |||||
Net Income | 7,587 | 16,328 | 23,346 | 571,562 | |||
Comprehensive Income Net Of Tax | 3,426 | 24,343 | 47,064 | 582,170 | |||
PNA Holding Co. | Continuing Operations | |||||||
INTEREST AND DIVIDEND INCOME: | |||||||
Dividend income from subsidiaries | 0 | 0 | 0 | 0 | |||
Loans | 0 | 1 | 0 | 3 | |||
Money market investments | 27 | 1 | 78 | 4 | |||
Investment securities | 81 | 81 | 242 | 242 | |||
Trading account securities | 0 | 0 | 0 | 0 | |||
Total interest and dividend income | 108 | 83 | 320 | 249 | |||
INTEREST EXPENSE: | |||||||
Deposits | 0 | 0 | 0 | 0 | |||
Short-term borrowings | 0 | 149 | 0 | 378 | |||
Interest Expense Long Term Debt | 2,692 | 2,695 | 8,077 | 8,084 | |||
Total interest expense | 2,692 | 2,844 | 8,077 | 8,462 | |||
Net interest income | (2,584) | (2,761) | (7,757) | (8,213) | |||
Net interest income after provision for loan losses | (2,584) | (2,761) | (7,757) | (8,213) | |||
Service charges on deposit accounts | 0 | 0 | 0 | 0 | |||
Other service fees | 0 | 0 | 0 | 0 | |||
Mortgage banking activities | 0 | 0 | 0 | 0 | |||
Net (loss) gain and valuation adjustments on investment securities | 0 | 0 | 0 | 0 | |||
Other-than-temporary impairment on investment securities | 0 | 0 | |||||
Trading account profit | 0 | 0 | 0 | 0 | |||
Net gain on sale of loans, including valuation adjustments on loans held-for-sale | 0 | 0 | 0 | ||||
Adjustments To Indemnity Reserves On Loans Sold | 0 | 0 | 0 | 0 | |||
FDIC loss share (expense) income | 0 | 0 | 0 | 0 | |||
Other operating income | 152 | 416 | (2,787) | 111 | |||
Total non-interest income | 152 | 416 | (2,787) | 111 | |||
Operating expenses: | |||||||
Personnel costs | 0 | 0 | 0 | 0 | |||
Net occupancy expenses | 0 | 0 | 0 | 0 | |||
Equipment expenses | 1 | 0 | 1 | 0 | |||
Other taxes | 0 | 0 | 0 | 0 | |||
Professional fees | 31 | 33 | 91 | 474 | |||
Communications | 0 | 0 | 0 | 0 | |||
Business promotion | 0 | 0 | 0 | 0 | |||
FDIC deposit insurance | 0 | 0 | 0 | 0 | |||
Other real estate owned (O R E O) expenses | 0 | 0 | 0 | 0 | |||
Other operating expenses | 3 | 109 | 46 | 328 | |||
Amortization of intangibles | 0 | 0 | 0 | 0 | |||
Goodwill impairment charge | 0 | 0 | |||||
Restructuring Costs | 0 | 0 | |||||
Total operating expenses | 35 | 142 | 138 | 802 | |||
Income (loss) from continuing operations before income tax | (2,467) | (2,487) | (10,682) | (8,904) | |||
Income tax expense | (864) | 0 | (3,739) | 0 | |||
Income Loss Before Equity In Undistributed Earnings Of Subsidiaries | (1,603) | (2,487) | (6,943) | (8,904) | |||
Equity in undistributed earnings (losses) of subsidiaries | 9,190 | 18,824 | 30,289 | 579,119 | |||
Income (loss) from continuing operations | 16,337 | 23,346 | 570,215 | ||||
PNA Holding Co. | Continuing Operations | Non Covered Under Loss Sharing Agreements with FDIC | |||||||
INTEREST EXPENSE: | |||||||
Provision for loan losses | 0 | 0 | 0 | 0 | |||
PNA Holding Co. | Continuing Operations | Covered Under Loss Sharing Agreements With FDIC Member | |||||||
INTEREST EXPENSE: | |||||||
Provision for loan losses | 0 | 0 | 0 | 0 | |||
PNA Holding Co. | Discontinued Operations | |||||||
Operating expenses: | |||||||
Equity in undistributed earnings (losses) of subsidiaries | (9) | ||||||
Income Loss From Discontinued Operations Net Of Tax | 0 | 0 | |||||
Equity In Undistributed Earnings Losses Of Discontinued Operations | 1,347 | ||||||
All other subsidiaries and eliminations | |||||||
INTEREST EXPENSE: | |||||||
Provision for loan losses | 128,687 | 182,866 | |||||
Other-than-temporary impairment on investment securities | (209) | (14,445) | |||||
Adjustments To Indemnity Reserves On Loans Sold | (14,234) | (9,981) | |||||
Operating expenses: | |||||||
Amortization of intangibles | 9,308 | 8,497 | |||||
Goodwill impairment charge | 3,801 | ||||||
Equity in undistributed earnings (losses) of subsidiaries | 0 | 0 | |||||
Net Income | 52,772 | 94,266 | 249,741 | 794,723 | |||
Comprehensive Income Net Of Tax | 41,429 | 123,544 | 350,689 | 834,738 | |||
All other subsidiaries and eliminations | Continuing Operations | |||||||
INTEREST AND DIVIDEND INCOME: | |||||||
Dividend income from subsidiaries | 0 | 0 | 0 | 0 | |||
Loans | 363,529 | 364,430 | 1,096,408 | 1,094,152 | |||
Money market investments | 4,568 | 2,003 | 11,320 | 5,292 | |||
Investment securities | 37,510 | 31,447 | 109,964 | 92,551 | |||
Trading account securities | 1,449 | 3,150 | 5,013 | 8,872 | |||
Total interest and dividend income | 407,056 | 401,030 | 1,222,705 | 1,200,867 | |||
INTEREST EXPENSE: | |||||||
Deposits | 32,787 | 28,359 | 93,889 | 80,486 | |||
Short-term borrowings | 2,132 | 2,236 | 6,051 | 5,873 | |||
Interest Expense Long Term Debt | 3,308 | 4,155 | 10,563 | 11,439 | |||
Total interest expense | 38,227 | 34,750 | 110,503 | 97,798 | |||
Net interest income | 368,829 | 366,280 | 1,112,202 | 1,103,069 | |||
Net interest income after provision for loan losses | 325,452 | 299,456 | 983,515 | 920,203 | |||
Service charges on deposit accounts | 40,776 | 40,960 | 120,934 | 120,115 | |||
Other service fees | 59,233 | 56,160 | 170,896 | 170,535 | |||
Mortgage banking activities | 15,272 | 24,195 | 42,050 | 58,372 | |||
Net (loss) gain and valuation adjustments on investment securities | 165 | 136 | 165 | 141 | |||
Other-than-temporary impairment on investment securities | (209) | (14,445) | |||||
Trading account profit | (163) | (282) | 733 | (2,998) | |||
Net gain on sale of loans, including valuation adjustments on loans held-for-sale | 8,549 | 8,245 | 602 | ||||
Adjustments To Indemnity Reserves On Loans Sold | (4,390) | (5,874) | (14,234) | (9,981) | |||
FDIC loss share (expense) income | (61,723) | 1,207 | (77,445) | 24,421 | |||
Other operating income | 13,955 | 11,842 | 40,255 | 32,826 | |||
Total non-interest income | 71,674 | 128,344 | 291,390 | 379,588 | |||
Operating expenses: | |||||||
Personnel costs | 110,087 | 109,576 | 327,831 | 320,633 | |||
Net occupancy expenses | 20,687 | 20,383 | 61,070 | 63,611 | |||
Equipment expenses | 15,145 | 14,219 | 43,866 | 42,537 | |||
Other taxes | 11,278 | 9,905 | 31,549 | 30,397 | |||
Professional fees | 78,658 | 74,377 | 229,754 | 222,966 | |||
Communications | 5,645 | 5,921 | 17,700 | 18,025 | |||
Business promotion | 12,210 | 11,861 | 36,074 | 35,606 | |||
FDIC deposit insurance | 5,854 | 7,300 | 18,586 | 22,240 | |||
Other real estate owned (O R E O) expenses | 11,311 | 7,686 | 33,364 | 75,571 | |||
Other operating expenses | 50,077 | 45,972 | 128,181 | 127,585 | |||
Amortization of intangibles | 3,097 | 3,512 | 9,308 | 8,497 | |||
Goodwill impairment charge | 3,801 | 3,801 | |||||
Restructuring Costs | 481 | 17,408 | |||||
Total operating expenses | 327,850 | 311,193 | 941,084 | 985,076 | |||
Income (loss) from continuing operations before income tax | 69,276 | 116,607 | 333,821 | 314,715 | |||
Income tax expense | 16,504 | 22,332 | 84,080 | (478,661) | |||
Income Loss Before Equity In Undistributed Earnings Of Subsidiaries | 52,772 | 94,275 | 249,741 | 793,376 | |||
Equity in undistributed earnings (losses) of subsidiaries | 0 | 0 | 0 | 0 | |||
Income (loss) from continuing operations | 94,275 | 249,741 | 793,376 | ||||
All other subsidiaries and eliminations | Continuing Operations | Non Covered Under Loss Sharing Agreements with FDIC | |||||||
INTEREST EXPENSE: | |||||||
Provision for loan losses | 42,627 | 69,714 | 130,238 | 159,666 | |||
All other subsidiaries and eliminations | Continuing Operations | Covered Under Loss Sharing Agreements With FDIC Member | |||||||
INTEREST EXPENSE: | |||||||
Provision for loan losses | 750 | (2,890) | (1,551) | 23,200 | |||
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 | (9) | 1,347 | |||||
Equity In Undistributed Earnings Losses Of Discontinued Operations | 0 | ||||||
Elimination | |||||||
INTEREST EXPENSE: | |||||||
Provision for loan losses | 0 | 0 | |||||
Other-than-temporary impairment on investment securities | 0 | 0 | |||||
Adjustments To Indemnity Reserves On Loans Sold | 0 | 0 | |||||
Operating expenses: | |||||||
Amortization of intangibles | 0 | 0 | |||||
Goodwill impairment charge | 0 | ||||||
Equity in undistributed earnings (losses) of subsidiaries | (195,285) | (1,344,535) | |||||
Net Income | (60,359) | (110,594) | (273,087) | (1,366,285) | |||
Comprehensive Income Net Of Tax | (44,855) | (147,887) | (397,753) | (1,416,908) | |||
Elimination | Continuing Operations | |||||||
INTEREST AND DIVIDEND INCOME: | |||||||
Dividend income from subsidiaries | (24,200) | (19,175) | (78,100) | (22,175) | |||
Loans | 0 | (163) | 0 | (432) | |||
Money market investments | (425) | (2) | (1,054) | (7) | |||
Investment securities | 0 | 0 | 0 | 0 | |||
Trading account securities | 0 | 0 | 0 | 0 | |||
Total interest and dividend income | (24,625) | (19,340) | (79,154) | (22,614) | |||
INTEREST EXPENSE: | |||||||
Deposits | (425) | (2) | (1,054) | (7) | |||
Short-term borrowings | 0 | (163) | 0 | (432) | |||
Interest Expense Long Term Debt | 0 | 0 | 0 | 0 | |||
Total interest expense | (425) | (165) | (1,054) | (439) | |||
Net interest income | (24,200) | (19,175) | (78,100) | (22,175) | |||
Net interest income after provision for loan losses | (24,200) | (19,175) | (78,100) | (22,175) | |||
Service charges on deposit accounts | 0 | 0 | 0 | 0 | |||
Other service fees | (64) | (45) | (1,400) | (1,373) | |||
Mortgage banking activities | 0 | 0 | 0 | 0 | |||
Net (loss) gain and valuation adjustments on investment securities | 0 | 0 | 0 | 0 | |||
Other-than-temporary impairment on investment securities | 0 | 0 | |||||
Trading account profit | (27) | 0 | (27) | 0 | |||
Net gain on sale of loans, including valuation adjustments on loans held-for-sale | 0 | 0 | 0 | ||||
Adjustments To Indemnity Reserves On Loans Sold | 0 | 0 | 0 | 0 | |||
FDIC loss share (expense) income | 0 | 0 | 0 | 0 | |||
Other operating income | (20) | (10) | (38) | (40) | |||
Total non-interest income | (111) | (55) | (1,465) | (1,413) | |||
Operating expenses: | |||||||
Personnel costs | 0 | 0 | 0 | 0 | |||
Net occupancy expenses | 0 | 0 | 0 | 0 | |||
Equipment expenses | 0 | 0 | 0 | 0 | |||
Other taxes | 0 | 0 | 0 | 0 | |||
Professional fees | (65) | (45) | (349) | (194) | |||
Communications | 0 | 0 | 0 | 0 | |||
Business promotion | 0 | 0 | 0 | 0 | |||
FDIC deposit insurance | 0 | 0 | 0 | 0 | |||
Other real estate owned (O R E O) expenses | 0 | 0 | 0 | 0 | |||
Other operating expenses | (533) | (634) | (1,622) | (1,916) | |||
Amortization of intangibles | 0 | 0 | 0 | 0 | |||
Goodwill impairment charge | 0 | 0 | |||||
Restructuring Costs | 0 | 0 | |||||
Total operating expenses | (598) | (679) | (1,971) | (2,110) | |||
Income (loss) from continuing operations before income tax | (23,713) | (18,551) | (77,594) | (21,478) | |||
Income tax expense | 201 | 243 | 208 | 272 | |||
Income Loss Before Equity In Undistributed Earnings Of Subsidiaries | (23,914) | (18,794) | (77,802) | (21,750) | |||
Equity in undistributed earnings (losses) of subsidiaries | (36,445) | (91,818) | (195,285) | (1,341,841) | |||
Income (loss) from continuing operations | (110,612) | (273,087) | (1,363,591) | ||||
Elimination | Continuing Operations | Non Covered Under Loss Sharing Agreements with FDIC | |||||||
INTEREST EXPENSE: | |||||||
Provision for loan losses | 0 | 0 | 0 | 0 | |||
Elimination | Continuing Operations | Covered Under Loss Sharing Agreements With FDIC Member | |||||||
INTEREST EXPENSE: | |||||||
Provision for loan losses | $ 0 | 0 | $ 0 | 0 | |||
Elimination | Discontinued Operations | |||||||
Operating expenses: | |||||||
Equity in undistributed earnings (losses) of subsidiaries | 18 | ||||||
Income Loss From Discontinued Operations Net Of Tax | $ 0 | 0 | |||||
Equity In Undistributed Earnings Losses Of Discontinued Operations | $ (2,694) |
Condensed Consolidating Stat211
Condensed Consolidating Statement of Cash Flow (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Cash flows from operating activities: | ||||
Net Income | $ 46,810 | $ 85,640 | $ 220,796 | $ 757,918 |
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 | 128,651 | 182,947 | ||
Goodwill impairment charge | 3,801 | 0 | ||
Amortization of intangibles | 9,308 | 8,497 | ||
Depreciation and amortization of premises and equipment | 34,725 | 35,459 | ||
Net accretion of discounts and amortization of premiums and deferred fees | (36,753) | (58,637) | ||
Other-than-temporary impairment on investment securities | 209 | 14,445 | ||
Fair value adjustments on mortgage servicing rights | 18,879 | 5,808 | ||
FDIC loss share (income) expense | 77,445 | (24,421) | ||
Adjustments (expense) to indemnity reserves on loans sold | 14,234 | 9,981 | ||
Earnings from investments under the equity method | (23,812) | (17,085) | ||
Deferred income tax (benefit) expense | 61,918 | (496,279) | ||
(Gain) loss on: | ||||
Disposition of premises and equipment and other productive assets | 3,603 | (2,939) | ||
Sale and valuation adjustments of investment securities | (1,932) | (141) | ||
Sale of loans, including valuation adjustments on loans held-for-sale and mortgage banking activities | (32,982) | (24,657) | ||
Sale of foreclosed assets, including write-downs | 13,160 | 56,391 | ||
Acquisitions of loans held-for-sale | (223,189) | (331,860) | ||
Proceeds from sale of loans held-for-sale | 58,003 | 71,296 | ||
Net originations on loans held-for-sale | (365,353) | (574,942) | ||
Net (increase) decrease in: | ||||
Trading securities | 578,133 | 783,304 | ||
Accrued income receivable | 4,543 | 11,582 | ||
Other assets | (28,201) | 61,179 | ||
Net increase (decrease) in: | ||||
Interest payable | (11,553) | (10,612) | ||
Pension and other postretirement benefits obligation | (56,537) | 2,567 | ||
Other liabilities | (5,292) | (39,053) | ||
Total adjustments | 221,008 | (337,170) | ||
Net cash (used in) provided by operating activities | 441,804 | 420,748 | ||
Cash flows from investing activities: | ||||
Net (increase) decrease in money market investments | (1,783,402) | (586,185) | ||
Purchases of investment securities: | ||||
Available-for-sale | (2,408,514) | (1,239,962) | ||
Held-to-maturity | 0 | (250) | ||
Other | (14,017) | (39,391) | ||
Proceeds from calls, paydowns, maturities and redemptions of investment securities: | ||||
Available-for-sale | 951,447 | 1,152,074 | ||
Held-to-maturity | 4,182 | 4,428 | ||
Other | 11,051 | 45,497 | ||
Proceeds from the sale of investment securities available-for-sale | 1,556 | 96,760 | ||
Proceeds from sale of other investment securities | 8,006 | 12,928 | ||
Net repayments on loans | (93,354) | 318,919 | ||
Proceeds from sale of loans | 134,114 | 27,780 | ||
Acquisition of loan portfolios | (355,507) | (173,505) | ||
Acquisition of trademark | 0 | (50) | ||
Net payments from FDIC under loss sharing agreements | 95,407 | 245,416 | ||
Net cash received and acquired from business combination | 0 | 731,279 | ||
Cash paid related to business acquisitions | 0 | (17,250) | ||
Acquisition of servicing advances | 0 | (61,304) | ||
Return of capital from equity method investments | 324 | 0 | ||
Mortgage servicing rights purchased | 0 | (2,400) | ||
Acquisition of premises and equipment | (78,297) | (41,109) | ||
Proceeds from sale of: | ||||
Premises and equipment and other productive assets | 5,519 | 10,166 | ||
Foreclosed assets | 54,600 | 115,078 | ||
Net cash (used in) provided by investing activities | (3,466,885) | 598,919 | ||
Net increase (decrease) in: | ||||
Deposits | 3,119,674 | (289,444) | ||
Federal funds purchased and assets sold under agreements to repurchase | 3,106 | (185,892) | ||
Other short-term borrowings | 0 | (148,215) | ||
Payments of notes payable | (230,608) | (719,575) | ||
Proceeds from issuance of notes payable | 165,047 | 263,286 | ||
Proceeds from issuance of common stock | 5,718 | 4,177 | ||
Cash Dividends Paid To Parent Company | 0 | 0 | ||
Dividends paid | (49,438) | (2,792) | ||
Net payments for repurchase of common stock | (1,547) | (1,752) | ||
Net cash (used in) provided by financing activities | 3,011,952 | (1,080,207) | ||
Net (decrease) increase in cash and due from banks | (13,129) | (60,540) | ||
Cash and due from banks at beginning of period | 363,674 | 381,095 | ||
Cash and due from banks at end of period | 350,545 | 320,555 | 350,545 | 320,555 |
Popular, Inc. Holding Co. | ||||
Cash flows from operating activities: | ||||
Net Income | 46,810 | 85,640 | 220,796 | 757,918 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||
Equity in undistributed earnings of subsidiaries | (164,996) | (764,069) | ||
Provision (reversal) for loan losses | (36) | 81 | ||
Goodwill impairment charge | 0 | |||
Amortization of intangibles | 0 | 0 | ||
Depreciation and amortization of premises and equipment | 497 | 553 | ||
Net accretion of discounts and amortization of premiums and deferred fees | 1,565 | 0 | ||
Other-than-temporary impairment on investment securities | 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 | (9,070) | (8,911) | ||
Deferred income tax (benefit) expense | 1 | 0 | ||
(Gain) loss on: | ||||
Disposition of premises and equipment and other productive assets | (1) | (2) | ||
Sale and valuation adjustments of investment securities | (1,767) | 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 | 52 | 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 | (475) | (188) | ||
Accrued income receivable | (6) | (87) | ||
Other assets | 2,304 | (10,258) | ||
Net increase (decrease) in: | ||||
Interest payable | (7,875) | (7,875) | ||
Pension and other postretirement benefits obligation | 0 | 0 | ||
Other liabilities | (5,724) | (9,545) | ||
Total adjustments | (185,531) | (800,301) | ||
Net cash (used in) provided by operating activities | 35,265 | (42,383) | ||
Cash flows from investing activities: | ||||
Net (increase) decrease in money market investments | (22,111) | 18,611 | ||
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 the sale of investment securities available-for-sale | 278 | 0 | ||
Proceeds from sale of other investment securities | 1,583 | 0 | ||
Net repayments on loans | 25 | 10,753 | ||
Proceeds from sale of loans | 0 | 0 | ||
Acquisition of loan portfolios | 0 | 0 | ||
Acquisition of trademark | 0 | |||
Net payments from FDIC under loss sharing agreements | 0 | 0 | ||
Net cash received and acquired from business combination | 0 | |||
Cash paid related to business acquisitions | 0 | |||
Acquisition of servicing advances | 0 | |||
Return of capital from equity method investments | 118 | |||
Return Of Capital From Wholly Owned Subsidiaries | 14,000 | |||
Mortgage servicing rights purchased | 0 | |||
Acquisition of premises and equipment | (794) | (808) | ||
Proceeds from sale of: | ||||
Premises and equipment and other productive assets | 56 | 6 | ||
Foreclosed assets | 434 | 0 | ||
Net cash (used in) provided by investing activities | (6,411) | 28,562 | ||
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 | 5,718 | 4,177 | ||
Cash Dividends Paid To Parent Company | 0 | 0 | ||
Dividends paid | (49,438) | (2,792) | ||
Net payments for repurchase of common stock | (1,453) | (1,752) | ||
Return Of Capital To Parent Company | 0 | |||
Net cash (used in) provided by financing activities | (45,173) | (367) | ||
Net (decrease) increase in cash and due from banks | (16,319) | (14,188) | ||
Cash and due from banks at beginning of period | 24,298 | 20,448 | ||
Cash and due from banks at end of period | 7,979 | 6,260 | 7,979 | 6,260 |
PNA Holding Co. | ||||
Cash flows from operating activities: | ||||
Net Income | 7,587 | 16,328 | 23,346 | 571,562 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||
Equity in undistributed earnings of subsidiaries | (30,289) | (580,466) | ||
Provision (reversal) for loan losses | 0 | 0 | ||
Goodwill impairment charge | 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 | 21 | 0 | ||
Other-than-temporary impairment on investment securities | 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 | 2,787 | (111) | ||
Deferred income tax (benefit) expense | (3,739) | 0 | ||
(Gain) loss on: | ||||
Disposition of premises and equipment and other productive assets | 0 | 0 | ||
Sale and valuation adjustments of investment securities | 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 | 80 | 80 | ||
Other assets | (26) | 3 | ||
Net increase (decrease) in: | ||||
Interest payable | (2,685) | (2,599) | ||
Pension and other postretirement benefits obligation | 0 | 0 | ||
Other liabilities | (543) | (140) | ||
Total adjustments | (34,394) | (583,233) | ||
Net cash (used in) provided by operating activities | (11,048) | (11,671) | ||
Cash flows from investing activities: | ||||
Net (increase) decrease in money market investments | 10,835 | (596) | ||
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 the sale of investment securities available-for-sale | 278 | 0 | ||
Proceeds from sale of other investment securities | 0 | 0 | ||
Net repayments on loans | 0 | 350 | ||
Proceeds from sale of loans | 0 | 0 | ||
Acquisition of loan portfolios | 0 | (350) | ||
Acquisition of trademark | 0 | |||
Net payments from FDIC under loss sharing agreements | 0 | 0 | ||
Net cash received and acquired from business combination | 0 | |||
Cash paid related to business acquisitions | 0 | |||
Acquisition of servicing advances | 0 | |||
Return of capital from equity method investments | 206 | |||
Return Of Capital From Wholly Owned Subsidiaries | 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 | 11,041 | (596) | ||
Net increase (decrease) in: | ||||
Deposits | 0 | 0 | ||
Federal funds purchased and assets sold under agreements to repurchase | 0 | 0 | ||
Other short-term borrowings | 0 | 12,261 | ||
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 | ||
Return Of Capital To Parent Company | 0 | |||
Net cash (used in) provided by financing activities | 0 | 12,261 | ||
Net (decrease) increase in cash and due from banks | (7) | (6) | ||
Cash and due from banks at beginning of period | 600 | 608 | ||
Cash and due from banks at end of period | 593 | 602 | 593 | 602 |
All other subsidiaries and eliminations | ||||
Cash flows from operating activities: | ||||
Net Income | 52,772 | 94,266 | 249,741 | 794,723 |
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 | 128,687 | 182,866 | ||
Goodwill impairment charge | 3,801 | |||
Amortization of intangibles | 9,308 | 8,497 | ||
Depreciation and amortization of premises and equipment | 34,228 | 34,906 | ||
Net accretion of discounts and amortization of premiums and deferred fees | (38,339) | (58,637) | ||
Other-than-temporary impairment on investment securities | 209 | 14,445 | ||
Fair value adjustments on mortgage servicing rights | 18,879 | 5,808 | ||
FDIC loss share (income) expense | 77,445 | (24,421) | ||
Adjustments (expense) to indemnity reserves on loans sold | 14,234 | 9,981 | ||
Earnings from investments under the equity method | (17,529) | (8,063) | ||
Deferred income tax (benefit) expense | 65,448 | (496,551) | ||
(Gain) loss on: | ||||
Disposition of premises and equipment and other productive assets | 3,604 | (2,937) | ||
Sale and valuation adjustments of investment securities | (165) | (141) | ||
Sale of loans, including valuation adjustments on loans held-for-sale and mortgage banking activities | (32,982) | (24,657) | ||
Sale of foreclosed assets, including write-downs | 13,108 | 56,391 | ||
Acquisitions of loans held-for-sale | (223,189) | (331,860) | ||
Proceeds from sale of loans held-for-sale | 58,003 | 71,296 | ||
Net originations on loans held-for-sale | (365,353) | (574,942) | ||
Net (increase) decrease in: | ||||
Trading securities | 578,487 | 783,492 | ||
Accrued income receivable | 4,459 | 11,503 | ||
Other assets | (26,170) | 37,453 | ||
Net increase (decrease) in: | ||||
Interest payable | (983) | (52) | ||
Pension and other postretirement benefits obligation | (56,537) | 2,567 | ||
Other liabilities | (2,801) | (11,865) | ||
Total adjustments | 245,852 | (314,921) | ||
Net cash (used in) provided by operating activities | 495,593 | 479,802 | ||
Cash flows from investing activities: | ||||
Net (increase) decrease in money market investments | (1,785,091) | (604,796) | ||
Purchases of investment securities: | ||||
Available-for-sale | (2,408,514) | (1,239,962) | ||
Held-to-maturity | (250) | |||
Other | (14,017) | (39,391) | ||
Proceeds from calls, paydowns, maturities and redemptions of investment securities: | ||||
Available-for-sale | 951,447 | 1,152,074 | ||
Held-to-maturity | 4,182 | 4,428 | ||
Other | 11,051 | 45,497 | ||
Proceeds from the sale of investment securities available-for-sale | 1,278 | 96,760 | ||
Proceeds from sale of other investment securities | 6,423 | 12,928 | ||
Net repayments on loans | (93,379) | 318,555 | ||
Proceeds from sale of loans | 134,114 | 27,780 | ||
Acquisition of loan portfolios | (355,507) | (173,155) | ||
Acquisition of trademark | (50) | |||
Net payments from FDIC under loss sharing agreements | 95,407 | 245,416 | ||
Net cash received and acquired from business combination | 731,279 | |||
Cash paid related to business acquisitions | (17,250) | |||
Acquisition of servicing advances | (61,304) | |||
Return of capital from equity method investments | 0 | |||
Return Of Capital From Wholly Owned Subsidiaries | 0 | |||
Mortgage servicing rights purchased | (2,400) | |||
Acquisition of premises and equipment | (77,503) | (40,301) | ||
Proceeds from sale of: | ||||
Premises and equipment and other productive assets | 5,463 | 10,160 | ||
Foreclosed assets | 54,166 | 115,078 | ||
Net cash (used in) provided by investing activities | (3,470,480) | 581,096 | ||
Net increase (decrease) in: | ||||
Deposits | 3,116,067 | (302,897) | ||
Federal funds purchased and assets sold under agreements to repurchase | 3,106 | (185,892) | ||
Other short-term borrowings | 0 | (171,215) | ||
Payments of notes payable | (230,608) | (719,575) | ||
Proceeds from issuance of notes payable | 165,047 | 263,286 | ||
Proceeds from issuance of common stock | 0 | 0 | ||
Cash Dividends Paid To Parent Company | (78,100) | (5,000) | ||
Dividends paid | 0 | 0 | ||
Net payments for repurchase of common stock | (1) | 0 | ||
Return Of Capital To Parent Company | (14,000) | |||
Net cash (used in) provided by financing activities | 2,961,511 | (1,121,293) | ||
Net (decrease) increase in cash and due from banks | (13,376) | (60,395) | ||
Cash and due from banks at beginning of period | 363,620 | 380,890 | ||
Cash and due from banks at end of period | 350,244 | 320,495 | 350,244 | 320,495 |
Elimination | ||||
Cash flows from operating activities: | ||||
Net Income | (60,359) | (110,594) | (273,087) | (1,366,285) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||
Equity in undistributed earnings of subsidiaries | 195,285 | 1,344,535 | ||
Provision (reversal) for loan losses | 0 | 0 | ||
Goodwill impairment charge | 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 | ||
Other-than-temporary impairment on investment securities | 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 | 208 | 272 | ||
(Gain) loss on: | ||||
Disposition of premises and equipment and other productive assets | 0 | 0 | ||
Sale and valuation adjustments of investment securities | 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 | 121 | 0 | ||
Accrued income receivable | 10 | 86 | ||
Other assets | (4,309) | 33,981 | ||
Net increase (decrease) in: | ||||
Interest payable | (10) | (86) | ||
Pension and other postretirement benefits obligation | 0 | 0 | ||
Other liabilities | 3,776 | (17,503) | ||
Total adjustments | 195,081 | 1,361,285 | ||
Net cash (used in) provided by operating activities | (78,006) | (5,000) | ||
Cash flows from investing activities: | ||||
Net (increase) decrease in money market investments | 12,965 | 596 | ||
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 the sale of investment securities available-for-sale | 0 | 0 | ||
Proceeds from sale of other investment securities | 0 | 0 | ||
Net repayments on loans | 0 | (10,739) | ||
Proceeds from sale of loans | 0 | 0 | ||
Acquisition of loan portfolios | 0 | 0 | ||
Acquisition of trademark | 0 | |||
Net payments from FDIC under loss sharing agreements | 0 | 0 | ||
Net cash received and acquired from business combination | 0 | |||
Cash paid related to business acquisitions | 0 | |||
Acquisition of servicing advances | 0 | |||
Return of capital from equity method investments | 0 | |||
Return Of Capital From Wholly Owned Subsidiaries | (14,000) | |||
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 | (1,035) | (10,143) | ||
Net increase (decrease) in: | ||||
Deposits | 3,607 | 13,453 | ||
Federal funds purchased and assets sold under agreements to repurchase | 0 | 0 | ||
Other short-term borrowings | 0 | 10,739 | ||
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 | 78,100 | 5,000 | ||
Dividends paid | 0 | 0 | ||
Net payments for repurchase of common stock | (93) | 0 | ||
Return Of Capital To Parent Company | 14,000 | |||
Net cash (used in) provided by financing activities | 95,614 | 29,192 | ||
Net (decrease) increase in cash and due from banks | 16,573 | 14,049 | ||
Cash and due from banks at beginning of period | (24,844) | (20,851) | ||
Cash and due from banks at end of period | $ (8,271) | $ (6,802) | $ (8,271) | $ (6,802) |