DOCUMENT AND ENTITY INFORMATION
DOCUMENT AND ENTITY INFORMATION - shares | 9 Months Ended | |
Sep. 30, 2017 | Nov. 06, 2017 | |
Document Documentand Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
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 | 102,059,726 |
CONSOLIDATED STATEMENTS OF COND
CONSOLIDATED STATEMENTS OF CONDITION - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | |||
Assets: | |||||
Cash And Due From Banks | $ 517,437 | $ 362,394 | |||
Money market investments: | |||||
Securities purchased under agreements to resell | 0 | 23,637 | |||
Time deposits with other banks | 5,488,212 | 2,866,580 | |||
Total money market investments | 5,488,212 | 2,890,217 | |||
Trading account securities, at fair value: | |||||
Pledged securities with creditors' right to repledge | 636 | 11,486 | |||
Other trading securities | 45,315 | 48,319 | |||
Investment securities available-for-sale, at fair value: | |||||
Pledged securities with creditors' right to repledge | 378,227 | 491,843 | |||
Other investment securities available-for-sale | 8,682,774 | 7,717,963 | |||
Investment securities held-to-maturity, at amortized cost (fair value 2017 - $74,512; 2016 - $75,576) | 93,438 | [1] | 98,101 | [2] | |
Other investment securities, at lower of cost or realizable value (realizable value 2017 - $177,141; 2016 - $170,890) | 173,965 | 167,818 | |||
Loans held-for-sale, at lower of cost or fair value | 68,864 | 88,821 | |||
Loans held-in-portfolio: | |||||
Loans not covered under loss-sharing agreements with the FDIC | 23,302,047 | 22,895,172 | |||
Loans covered under loss-sharing agreements with the FDIC | 524,854 | 572,878 | |||
Less - Unearned income | 128,597 | 121,425 | |||
Allowance for loan losses | 646,913 | 540,651 | |||
Total loans held-in-portfolio, net | 23,051,391 | 22,805,974 | |||
FDIC loss-share asset | 48,470 | 69,334 | |||
Premises and equipment, net | 532,532 | 543,981 | |||
Accrued income receivable | 146,339 | 138,042 | |||
Mortgage servicing assets, at fair value | 180,157 | 196,889 | |||
Other Assets | 2,329,927 | 2,145,510 | |||
Goodwill | 627,294 | 627,294 | |||
Other intangible assets | 38,016 | 45,050 | |||
Total assets | 42,601,267 | 38,661,609 | |||
Deposits: | |||||
Non-interest bearing | 7,449,857 | 6,980,443 | |||
Interest bearing | 26,799,079 | 23,515,781 | |||
Total deposits | 34,248,936 | 30,496,224 | |||
Assets sold under agreements to repurchase | 374,405 | 479,425 | |||
Other short-term borrowings | 240,598 | 1,200 | |||
Notes payable | 1,532,061 | 1,574,852 | |||
Other liabilities | 919,836 | 911,951 | |||
Total liabilities | 37,315,836 | 33,463,652 | |||
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; 104,197,524 shares issued (2016 - 104,058,684) and 102,026,417 shares outstanding (2016 - 103,790,932) | 1,042 | 1,040 | |||
Surplus | 4,265,053 | 4,255,022 | |||
Retained earnings | 1,350,730 | 1,220,307 | |||
Treasury stock - at cost, 2,171,107 shares (2016 - 267,752) | (90,222) | (8,286) | |||
Accumulated other comprehensive loss, net of tax | [3] | (291,332) | (320,286) | ||
Total stockholders' equity | 5,285,431 | 5,197,957 | |||
Total liabilities and stockholders' equity | 42,601,267 | 38,661,609 | |||
Non Covered Under Loss Sharing Agreements with FDIC | |||||
Loans held-in-portfolio: | |||||
Other real estate owned | 176,728 | 180,445 | |||
Covered Under Loss Sharing Agreements With FDIC Member | |||||
Loans held-in-portfolio: | |||||
Loans covered under loss-sharing agreements with the FDIC | 524,854 | [4] | 572,878 | [5] | |
Other real estate owned | $ 21,545 | $ 32,128 | |||
[1] | Includes $92.4 million pledged to secure public and trust deposits that the secured parties are not permitted to sell or repledge the collateral. | ||||
[2] | Includes $53.1 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 $296 million pledged to secure credit facilities at the FHLB which are not permitted to sell or repledge the collateral. | ||||
[5] | Includes $337 million pledged to secure credit facilities at the FHLB which are not permitted to sell or repledge the collateral. |
CONSOLIDATED STATEMENTS OF CON3
CONSOLIDATED STATEMENTS OF CONDITION (PARENTHETICAL) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | ||
Statement of Financial Position [Abstract] | ||||
Held To Maturity Securities Fair Value | $ 74,512 | [1] | $ 75,576 | [2] |
Realizable Value Of Other Investment Securities | $ 177,141 | $ 170,890 | ||
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 | 104,197,524 | 104,058,684 | ||
Common Stock Shares Outstanding | 102,026,417 | 103,790,932 | ||
Treasury stock | 2,171,107 | 267,752 | ||
[1] | Includes $92.4 million pledged to secure public and trust deposits that the secured parties are not permitted to sell or repledge the collateral. | |||
[2] | Includes $53.1 million pledged to secure public and trust deposits that the secured parties are not permitted to sell or repledge the collateral. |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Interest income: | ||||
Loans | $ 371,979 | $ 363,550 | $ 1,102,784 | $ 1,096,468 |
Money market investments | 15,529 | 4,568 | 33,233 | 11,320 |
Investment securities | 47,276 | 37,732 | 140,699 | 110,728 |
Trading account securities | 1,099 | 1,449 | 3,895 | 5,013 |
Total interest income | 435,883 | 407,299 | 1,280,611 | 1,223,529 |
Interest expense: | ||||
Deposits | 37,058 | 32,362 | 104,907 | 92,835 |
Short-term borrowings | 1,524 | 2,132 | 3,734 | 6,051 |
Long-term debt | 19,130 | 19,118 | 57,222 | 57,993 |
Total interest expense | 57,712 | 53,612 | 165,863 | 156,879 |
Net interest income | 378,171 | 353,687 | 1,114,748 | 1,066,650 |
Provision for loan losses | 253,936 | 128,651 | ||
Net interest income after provision for loan losses | 217,412 | 310,343 | 860,812 | 937,999 |
Service charges on deposit accounts | 39,273 | 40,776 | 119,882 | 120,934 |
Other service fees | 53,481 | 59,169 | 168,824 | 169,496 |
Mortgage banking activities | 5,239 | 15,272 | 27,349 | 42,050 |
Sale and valuation adjustments of investment securities | 103 | 349 | 284 | 1,932 |
Other-than-temporary impairment on investment securities | 0 | 0 | (8,299) | (209) |
Trading account profit | 253 | (113) | (680) | 842 |
Net (loss) gain on sale of loans, including valuation adjustments on loans held-for-sale | (420) | 8,549 | (420) | 8,245 |
Adjustments (expense) to indemnity reserves on loans sold | (6,406) | (4,390) | (11,302) | (14,234) |
FDIC loss share (expense) income | (3,948) | (61,723) | (12,680) | (77,445) |
Other operating income | 12,799 | 18,089 | 50,078 | 46,500 |
Total non-interest income | 100,374 | 75,978 | 333,036 | 298,111 |
Operating expenses: | ||||
Personnel costs | 119,636 | 121,224 | 364,058 | 365,023 |
Net occupancy expenses | 22,254 | 21,626 | 65,295 | 63,770 |
Equipment expenses | 16,457 | 15,922 | 48,677 | 45,731 |
Other taxes | 10,858 | 11,324 | 32,567 | 31,689 |
Professional Fees | 70,772 | 81,266 | 212,956 | 237,350 |
Communications | 5,394 | 5,785 | 17,242 | 18,117 |
Business promotion | 15,216 | 12,726 | 40,158 | 37,541 |
FDIC deposit insurance | 6,271 | 5,854 | 18,936 | 18,586 |
Other real estate owned (O R E O) expenses | 11,724 | 11,295 | 41,212 | 33,416 |
Other operating expenses | 36,161 | 29,752 | 87,106 | 70,432 |
Amortization of intangibles | 2,345 | 3,097 | 7,034 | 9,308 |
Goodwill impairment charge | 0 | 3,801 | 0 | 3,801 |
Total operating expenses | 317,088 | 323,672 | 935,241 | 934,764 |
Income before income tax | 698 | 62,649 | 258,607 | 301,346 |
Income tax expense | (19,966) | 15,839 | 48,772 | 80,550 |
Net Income | 20,664 | 46,810 | 209,835 | 220,796 |
Net income applicable to common stock | $ 19,734 | $ 45,880 | $ 207,043 | $ 218,004 |
Net Income per Common Share - Basic | $ 0.19 | $ 0.44 | $ 2.03 | $ 2.11 |
Net Income per Common Share - Diluted | 0.19 | 0.44 | 2.03 | 2.11 |
Dividends Declared per Common Share | $ 0.25 | $ 0.15 | $ 0.75 | $ 0.45 |
Non Covered Under Loss Sharing Agreements with FDIC | ||||
Interest expense: | ||||
Provision for loan losses | $ 157,659 | $ 42,594 | $ 249,681 | $ 130,202 |
Covered Under Loss Sharing Agreements With FDIC Member | ||||
Interest expense: | ||||
Provision for loan losses | $ 3,100 | $ 750 | $ 4,255 | $ (1,551) |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | ||
Statement of Income and Comprehensive Income | |||||
Net Income | $ 20,664 | $ 46,810 | $ 209,835 | $ 220,796 | |
Other comprehensive income (loss) before tax: | |||||
Foreing currency translation adjustment | [1] | (390) | (325) | (1,839) | (2,465) |
Amortization of net losses | 5,606 | 5,488 | 16,819 | 16,461 | |
Amortization of prior service credit | (950) | (950) | (2,850) | (2,850) | |
Unrealized holding (losses) gains on investments arising during the period | 9,240 | (15,428) | 15,137 | 98,900 | |
Other-than-temporary impairment included in net income | 0 | 0 | 8,299 | 209 | |
Reclassification adjustment for (gains) losses included in net income (loss) | (103) | (349) | (284) | (349) | |
Unrealized net (losses) gains on cash flow hedges | (410) | (1,123) | (1,424) | (4,662) | |
Reclassification adjustment for net (gains) losses included in net income | 232 | 1,650 | 2,122 | 4,466 | |
Other comprehensive income (loss) before tax | 13,225 | (11,037) | 35,980 | 109,710 | |
Income tax benefit (expense) | (1,614) | (646) | (7,026) | (10,119) | |
Total other comprehensive loss, net of tax | 11,611 | (11,683) | 28,954 | 99,591 | |
Comprehensive income (loss), net of tax | $ 32,275 | $ 35,127 | $ 238,789 | $ 320,387 | |
[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, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Statement of Income and Comprehensive Income | ||||
Amortization of net losses | $ (2,185) | $ (2,140) | $ (6,556) | $ (6,420) |
Amortization of prior service credit | 370 | 370 | 1,110 | 1,110 |
Unrealized holding (losses) gains on investments arising during the period | 110 | 1,297 | 194 | (4,877) |
Other-than-temporary impairment included in net income | 0 | 0 | (1,559) | (42) |
Reclassification adjustment for (gains) losses included in net income | 21 | 33 | 57 | 33 |
Unrealized net (losses) gains on cash flow hedges | 160 | 438 | 555 | 1,819 |
Reclassification adjustment for net losses (gains) included in net income | (90) | (644) | (827) | (1,742) |
Income tax benefit (expense) | $ (1,614) | $ (646) | $ (7,026) | $ (10,119) |
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, 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) |
Beginning Balance at Dec. 31, 2016 | 5,197,957 | 1,040 | 50,160 | 4,255,022 | 1,220,307 | (8,286) | (320,286) |
Net Income | 209,835 | 209,835 | |||||
Issuance of stock | 5,515 | 2 | 5,513 | ||||
Dividends declared: | |||||||
Dividends, Common Stock, Cash | (76,620) | (76,620) | |||||
Dividends, Preferred Stock, Cash | (2,792) | (2,792) | |||||
Common stock purchases | (77,418) | 4,518 | (81,936) | ||||
Other comprehensive loss, net of tax | 28,954 | 28,954 | |||||
Ending Balance at Sep. 30, 2017 | $ 5,285,431 | $ 1,042 | $ 50,160 | $ 4,265,053 | $ 1,350,730 | $ (90,222) | $ (291,332) |
DISCLOSURE OF CHANGES IN NUMBER
DISCLOSURE OF CHANGES IN NUMBER OF SHARES - shares | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Treasury stock | (2,171,107) | |
Common Stock - Outstanding | 102,026,417 | |
Common Stock | ||
Beginning balance | 104,058,684 | 103,816,185 |
Issuance of stock | 138,840 | 198,196 |
Balance at end of year | 104,197,524 | 104,014,381 |
Treasury stock | (2,171,107) | (251,785) |
Common Stock - Outstanding | 102,026,417 | 103,762,596 |
Preferred Stock | ||
Balance at end of year | 2,006,391 | 2,006,391 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Cash flows from operating activities: | |||||
Net Income | $ 20,664 | $ 46,810 | $ 209,835 | $ 220,796 | |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||||
Provision for loan losses | 253,936 | 128,651 | |||
Goodwill impairment charge | 0 | 3,801 | 0 | 3,801 | |
Amortization of intangibles | 7,034 | 9,308 | |||
Depreciation and amortization of premises and equipment | 35,966 | 34,725 | |||
Net accretion of discounts and amortization of premiums and deferred fees | (17,371) | (36,753) | |||
Impairment losses on long-lived assets | 11,286 | 0 | |||
Other-than-temporary impairment on investment securities | 0 | 0 | 8,299 | 209 | |
Fair value adjustments on mortgage servicing rights | 24,262 | 18,879 | |||
FDIC loss share (income) expense | 12,680 | 77,445 | |||
Adjustments (expense) to indemnity reserves on loans sold | 6,406 | 4,390 | 11,302 | 14,234 | |
Earnings from investments under the equity method | (27,350) | (23,812) | |||
Deferred income tax (benefit) expense | 30,471 | 61,918 | |||
(Gain) loss on: | |||||
Disposition of premises and equipment and other productive assets | 5,018 | 3,603 | |||
Sale and valuation adjustments of investment securities | (284) | (1,932) | |||
Sale of loans, including valuation adjustments on loans held-for-sale and mortgage banking activities | (16,455) | (32,982) | |||
Sale of foreclosed assets, including write-downs | 19,228 | 13,160 | |||
Acquisitions of loans held-for-sale | (204,813) | (223,189) | |||
Proceeds from sale of loans held-for-sale | 68,326 | 58,003 | |||
Net originations on loans held-for-sale | (283,709) | (365,353) | |||
Net (increase) decrease in: | |||||
Trading securities | 498,840 | 578,133 | |||
Accrued income receivable | (8,297) | 4,543 | |||
Other assets | 13,454 | (28,201) | |||
Net increase (decrease) in: | |||||
Interest payable | (9,299) | (11,553) | |||
Pension and other postretirement benefits obligation | (13,760) | (56,537) | |||
Other liabilities | 15,178 | (5,292) | |||
Total adjustments | 433,942 | 221,008 | |||
Net cash provided by operating activities | 643,777 | 441,804 | |||
Cash flows from investing activities: | |||||
Net (increase) decrease in money market investments | (2,597,994) | (1,783,402) | |||
Purchases of investment securities: | |||||
Available-for-sale | (2,356,389) | (2,408,514) | |||
Other | (23,822) | (14,017) | |||
Proceeds from calls, paydowns, maturities and redemptions of investment securities: | |||||
Available-for-sale | 1,225,915 | 951,447 | |||
Held-to-maturity | 6,229 | 4,182 | |||
Other | 0 | 11,051 | |||
Proceeds from sale of investment securities available-for-sale | 14,888 | 1,556 | |||
Proceeds from sale of other investment securities | 17,675 | 8,006 | |||
Net repayments on loans | (77,400) | (93,354) | |||
Proceeds from sale of loans | 415 | 134,114 | |||
Acquisition of loan portfolios | (448,121) | (355,507) | |||
Acquisition of trademark | 0 | ||||
Net payments from FDIC under loss sharing agreements | (11,520) | 95,407 | |||
Return of capital from equity method investments | 8,556 | 324 | |||
Acquisition of premises and equipment | (40,158) | (78,297) | |||
Proceeds from sale of: | |||||
Premises and equipment and other productive assets | 6,982 | 5,519 | |||
Foreclosed assets | 85,705 | 54,600 | |||
Net cash provided by investing activities | (4,189,039) | (3,466,885) | |||
Net increase (decrease) in: | |||||
Deposits | 3,751,367 | 3,119,674 | |||
Federal funds purchased and assets sold under agreements to repurchase | (105,020) | 3,106 | |||
Other short-term borrowings | 239,398 | 0 | |||
Payments of notes payable | (89,375) | (230,608) | |||
Proceeds from issuance of notes payable | 45,000 | 165,047 | |||
Proceeds from issuance of common stock | 5,515 | 5,718 | |||
Dividends paid | (69,162) | (49,438) | |||
Net payments for repurchase of common stock | (75,662) | (1,547) | |||
Payments related to tax witholding for shared-based compensation | (1,756) | 0 | |||
Net cash used in financing activities | 3,700,305 | 3,011,952 | |||
Net decrease in cash and due from banks | 155,043 | (13,129) | |||
Cash and due from banks at beginning of period | 362,394 | 363,674 | $ 363,674 | ||
Cash and due from banks at end of period | $ 517,437 | $ 350,545 | $ 517,437 | $ 350,545 | $ 362,394 |
Nature of operations
Nature of operations | 9 Months Ended |
Sep. 30, 2017 | |
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 . |
Hurricanes Impact
Hurricanes Impact | 9 Months Ended |
Sep. 30, 2017 | |
Disclosure Text Block | |
Hurricane Impact [Text Block] | Note 2 – Hurricane s impact During September 2017 , Hurricanes Irma and Maria (the “hurricanes”), impacted Puerto Rico, the U.S. and British Virgin Islands, causing extensive damage and disrupting the markets in which Banco Popular de Puerto Rico (“BPPR”) does business. On September 6, 2017, Hurricane Irma made landfall in the USVI and the BVI as a Category 5 hurricane on the Saffir-Simpson scale, causing catastrophic wind and water damage to the islands’ infrastructure, homes and businesses. Hurricane Irma’s winds and resulting floo ding also impacted certain municipalities of Puerto Rico, causing the failure of electricity infrastructure in a significant portion of the island. While hurricane Irma also struck Popular’s operations in Florida, neither our operations nor those of our cl ients in the region were materially impacted. Two weeks later, on September 20, 2017, Hurricane Maria, made landfall in Puerto Rico as a Category 4 hurricane, causing extensive destruction and fl ooding throughout Puerto Rico . Following the passage of Hurri cane Maria, all Puerto Rico was left without electrical power, other basic utility and infrastructure services (such as water, communications, ports and other transportation networks) were severely curtailed and the government imposed a mandatory curfew. The hurricanes caused a significant disruption to the island’s economic activity. Most business establishments, including retailers and wholesalers, financial institutions, manufacturing facilities and hotels, were closed for several days. Puerto Rico and the USVI were declared disaster zones by President Trump due to the impact of the hurricanes, thus making them eligible for Federal assistance. Notwithstanding the significant recovery operation that is underway by the Federal , state and local governments, as o f the date of this report, most businesses and homes in Puerto Rico and the USVI remain without power, other basic utility and infrastructure remains significantly impacted, and many businesses are partially operating or remain closed. Electronic transact ions, a significant source of revenue for the bank, have also declined significantly as a result of the lack of power and telecommunication services. Several reports indicate that the hurricanes have also accelerated the outmigration trends that Puerto Ric o was experiencing, with many residents moving to the mainland United States, either on a temporary or permanent basis . While it is too early to assess and quantify the full extent of the damage caused by the hurricanes, as well as their long-term impact o n economic activity, the damages are substantial and have, at least in the short-term, had a material adverse impact on economic activity, as reflected by, among other things, the slowdown in production and sales activity and the reduction in the governmen t’s tax revenues. Employment levels are also expected to decrease at least in the short-term. The speed at which the government is able to restore power and other basic services throughout Puerto Rico, which we are not able to predict, will be a critical v ariable in determining the extent of the impact on economic activity. Furthermore, the hurricanes severely damaged or destroyed buildings, homes and other structures, impacting the value of such properties, some of which may serve as collateral to our loa ns. While our collateral is generally insured, the value of such insured structures, as well as other structures unaffected by the hurricanes, may be significantly impacted. Although some of the impact of the hurricanes, including its short-term impact o n economic activity, may be offset by recovery and reconstruction activity and the influx of Federal emergency funds and private insurance proceeds, it is too early to know the amount of Federal and private insurance money to be received and whether such t ransfers will significantly offset the negative economic, fiscal and demographic impact of the hurricanes. Prior to the hurricanes, the Corporation had implemented its business continuity action program. Although the Corporation’s business critical systems experienced minimal outages as a result of the storms, the Corporation’s physical operations in Puerto Rico, the USVI and the BVI, including its branch and ATM networks, were materially disrupted by the storms mostly due to lack of electricity and communi cation as well as limited accessibility . Reconstruction of the island’s electric infrastructure and restoration of the telecommunications network remain the most critical challenges for Puerto Rico’s recovery from the hurricanes. The following summarizes the estimated impact on the Corporation’s earnings for the quarter ended September 30, 2017 as a result of the impact caused by Hurricanes Irma and Maria, net of estimated insurance receivables of $7.5 million. We expect the hurricanes to continue to impac t the Corporation’s earnings for the quarter ending December 31, 2017 and future periods . (In thousands) Quarter ended September 30, 2017 Provision for loan losses [1] $ 69,887 Operating expenses: Personnel costs 58 Net occupancy expenses 468 Business promotion Donations 1,123 Other sponsorship and promotions expenses 203 Total business promotion 1,326 OREO expenses 2,685 Other expenses Write-down of premises and equipment 3,932 Other operating expense 1,033 Total other expenses 4,965 Total operating expenses 9,502 Total pre-tax hurricane expenses $ 79,389 [1] Includes $3.5 million in provision for covered loans. Provision for Loan Losses Damages associated with Hurricanes Irma and Maria impacted certain of the Corporation’s asset quality measures, including higher delinquencies and non-performing loans. Payment channels, collection efforts and loss mitigation operations were interrupted during the last month of the quarter as a result of the hurricanes. An incremental provision expense of $69.9 million was made to the allowance for loan losses based on management’s best estimate of the impact of the hurricanes as of September 30, 2017 on the Corporation’s loan portfolios and the ability of borrowers to repay their loans, taking into consideration currently available information and the already challenging economic environment in Puerto Rico prior to the hurricanes. Management has initi ally estimated that the effects of the hurricanes could result in loan losses in the range of $70 to $160 million. However, since the Corporation’s base allowance for loan losses already incorporated reserves for environmental factors such as unemployment and deterioration in economic activity of approximately $5 7.9 million, management increase d the environmental factors reserve by $64.3 million to $122.2 million using the near mid-range as the best estimate. The $69.9 million provision also includes $5.6 million for the portfolio of purchased credit impaired loans, accounted for under ASC 310-30, for which the estimated cash flows were adjusted to reflect a three-month payment moratorium offere d to certain eligible borrowers . Since there is significant unc ertainty with respect to the full extent of the impact due to the unprecedented nature of Hurricane María, the estimate is judgmental and subject to change as conditions evolve. Management will continue to carefully assess and review the exposure of the po rtfolios to hurricane-related factors, economic trends and their effect on credit quality and that assessment and review could result in further loan loss provisions in future periods . Operating Expenses The results for the quarter include $6.6 million in expenses, net of $7.5 million in insurance receivables, from structural damages caused by the hurricanes to branches, buildings and repossessed properties as a result of the hurricanes. An additional $2. 9 million in other operating expenses are reflected for costs such as donations, debris removal, fuel for backup generators and other ancillary costs associated with hurricane recovery efforts. The Corporation has over 200 branches and office buildings an d over 2,000 repossessed properties in the areas affected by the hurricanes. While the Corporation has completed a preliminary estimate of the physical damages to these properties, it has been unable to individually examine each of these properties. As the Corporation continues to evaluate the extent of the damage , additional adjustments may be necessary. However, the Corporation believes that given its level of insurance coverage, the estimated impact of damages to these properties should not vary material ly. Revenue Reduction In addition to the previously mentioned incremental provision and direct operating expenses, results for the three months ended September 30, 2017 were impacted by the hurricanes in the form of a reduction in revenue resulting from reduced merchant transaction activity, the waiver of certain late fees and service charges, including ATM transaction fees, to businesses and consumers in hurricane-affected areas, as well as the economic and operational disruption in the Corporation’s mo rtgage origination, servicing and loss mitigation activities due to the hurricanes’ operational and economic impact. The impact on transactional and collection based revenues has continued into the fourth quarter and the amount will depend on the speed at which electricity, telecommunications and general merchant services can be restored across the region |
Basis of presentation and summa
Basis of presentation and summary of significant accounting policies | 9 Months Ended |
Sep. 30, 2017 | |
Disclosure Text Block | |
Basis Of Presentation And Significant Accounting Policies | Note 3 – 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, 2016 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 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 C onsolidated F inancial S tatements of the Corporation for the year ended December 31, 2016 , in cluded in the Corporation’s 2016 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 in the Preparation of Fina ncial 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 reported amounts of assets and liabil ities 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, 2017 | |
New Accounting Pronouncements and Changes in Accounting Principles | |
New Accounting Pronouncements | Note 4 – New accounting pronouncements Recently Issued Accounting Standards Updates FASB Accounting Standards Update (“ASU”) 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities The FASB issued ASU 2017-12 in August 2017, which makes more financial and nonfinancial hedging strategies eligible for hedge accounting and changes how companies assess effectiveness by, among other things, eliminating the requirement for entities to recognize hedge ineffectiveness each reporting period for c ash flow hedges and requiring presentation of the changes in fair value of cash flow hedges in the same income statement line item(s) as the earnings effect of the hedged items when the hedged item affects earnings. The amendments in this Update are effec tive for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Early adoption is permitted. The amendments in this Update should be applied using a modified retrospective approach as of the adoption date. The Corp oration will be impacted by the simplified application of hedge accounting. The Corporation does not anticipate that the adoption of this accounting pronouncement will have a material effect on its consolidated statements of financial condition and results of operations since hedge ineffectiveness has been immaterial to the Corporation and the earnings effect of the hedges and the hedged items are already presented in the same income statement line item. FASB Accounting Standards Update (“ASU”) 2017-11, Earnings per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815): Part I: Accounting for Certain Financial Instruments with Down Round Features; Part II: Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable N oncontrolling Interests with a Scope Exception The FASB issued ASU 2017-11 in July 2017, which changes the classification analysis of certain equity-linked financial instruments with down round features. When determining whether these instruments should be classified as liabilities or equity, a down round feature no longer precludes equity classification when assessing whether the instrument is indexed to an entity’s own stock. For EPS purposes, the effect of the down round feature should be recognized as a dividend when triggered. The amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Early adoption is permitted. The amendments in this Update may be applied using eit her a modified retrospective approach or a full retrospective approach. The Corporation does not anticipate that the adoption of this accounting pronouncement will have a material effect on its consolidated statements of financial condition and results of operations since it does not have any outstanding equity-linked financial instruments with a down round feature. FASB Accounting Standards Update (“ASU”) 2017-09, Compensation– Stock Compensation (Topic 718): Scope of Modification Accounting The FASB issued ASU 2017-09 in May 2017, which clarifies that modification accounting is required only if the fair value, the vesting conditions, or the classification of the award (as equity or liability) changes as a result of the change in terms or conditions. The amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. Early adoption is permitted. The amendments in this Update should be applied prospectively to an award modified on or after the adoption date. The Corporation does not anticipate that the adoption of this accounting pronouncement will have a material effect on its consolidated statements of financial condition and results of operations since it is not customary for the Corporation to modify the terms or conditions of its share-based payment awards. FASB Accounting Standards Update (“ASU”) 2017-08, Receivables– Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt S ecurities The FASB issued ASU 2017-08 in March 2017, which amends the amortization period for certain callable debt securities held at a premium by shortening such period to the earliest call date. The amendments do not require an accounting change for se curities held at a discount; the discount continues to be amortized to maturity. The amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Early adoption is permitted. T he amendments in this Update should be applied on a modified retrospective basis with a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. The Corporation does not anticipate that the adoption of this accounting pronouncement will have a material effect on its consolidated statements of financial condition and results of operations since the premium of purchased callable debt securities is not significant. FASB Accounting Standards Update (“ASU”) 201 7-07, Compensation – Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost The FASB issued ASU 2017-07 in March 2017, which requires that an employer disaggregate the service cost component from the other components of net benefit cost. The amendments also provide guidance on how to present the service cost component and the other components of net benefit cost in the income statement and allow only the service cost component o f net benefit cost to be eligible for capitalization. The amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. The amendments in this Update should be applied retrospe ctively for the presentation of the service cost component and other components of net benefit cost and prospectively for the capitalization of the service cost component. The Corporation does not expect that the limitation to capitalize only the service cost component of the net periodic benefit cost will have a material impact on its consolidated statement of operations. Upon adoption, the Corporation will segregate the presentation of the service cost from the other components of net periodic benefit c osts, all which are currently reported within personnel costs in its accompanying consolidated statement of operations. FASB Accounting Standards Update (“ASU”) 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments The Corporation has continued its evaluation and implementation efforts for ASU 2016-13, Financial Instruments – Credit Losses , and has established a cross-discipline governance structure. A Current Expected Credit Losses (“CECL”) Wo rking Group, with members from different areas within the organization, has been created and assigned the responsibility of assessing the impact of the standard, evaluating interpretative issues, evaluating the current credit loss models against the new gu idance to determine any changes necessary and other related implementation activities. The Working Group provides periodic updates to the CECL Steering Committee, which has oversight responsibilities for the implementation efforts. The Corporation plans to adopt ASU 2016-13 on January 1, 2020 using a modified retrospective approach. Although early adoption is permitted beginning in the first quarter of 2019, the Corporation does not expect to make that election. The Corporation expec ts an increase in its allowance for loan and lease losses due to the consideration of lifetime credit losses as part of the calculation. For additional information on ASU 2016-13 and other recently issued Accounting Standards Updates not yet effective, ref er to Note 3 to the Consolidated Financial Statements included in the 2016 Form 10-K . FASB Accounting Standards Updates (“ASUs”), Revenue from Contracts with Customers (Topic 606) The Corporation’s implementation efforts regarding ASU 2014-09, Revenue from Contracts with Customers, have included a scoping analysis of revenue streams and related costs, reviewing the associated contracts, evaluating the timing of when revenues are currently being recognized in light of when the performance obligations ar e fulfilled and assessing principal vs. agent considerations. The Corporation does not expect material changes in the timing of when revenues are recognized upon the adoption of this standard. Nonetheless, the Corporation continues to evaluate certain cost s , including card interchange transactions, to determine if these should be presented on a gross basis or as an offset to the corresponding revenues . Although the Corporation expects changes on the presentation of certain costs related to its brokerage, underwriting and valuation services in its broker-dealer subsidiary, it does not anticipate these changes in presentation to be material to the Corporation’s fi nancial statements . The Corporation will adopt this guidance on January 1, 2018 using the modified retrospective approach. |
Restrictions on cash and due fr
Restrictions on cash and due from banks and certain securities | 9 Months Ended |
Sep. 30, 2017 | |
Disclosure Text Block | |
Restricted On Cash And Due From Banks And Certain Securities | Note 5 - 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, 2017 ( December 31, 2016 - $ 1.2 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, 2017 , t he Corporation held $ 38 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, 2016 - $ 31 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, 2017 | |
Available For Sale Securities Member | |
Investment | Note 6 – 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, 2017 and December 31, 2016 . At September 30, 2017 Gross Gross Weighted Amortized unrealized unrealized Fair average (In thousands) cost gains losses value yield U.S. Treasury securities Within 1 year $ 594,340 $ 3 $ 863 $ 593,480 1.01 % After 1 to 5 years 2,179,553 1,276 9,446 2,171,383 1.41 Total U.S. Treasury securities 2,773,893 1,279 10,309 2,764,863 1.32 Obligations of U.S. Government sponsored entities Within 1 year 204,201 97 282 204,016 1.22 After 1 to 5 years 408,988 254 1,612 407,630 1.46 Total obligations of U.S. Government sponsored entities 613,189 351 1,894 611,646 1.38 Obligations of Puerto Rico, States and political subdivisions After 1 to 5 years 6,605 10 - 6,615 2.49 Total obligations of Puerto Rico, States and political subdivisions 6,605 10 - 6,615 2.49 Collateralized mortgage obligations - federal agencies Within 1 year 80 - - 80 2.74 After 1 to 5 years 17,330 273 44 17,559 2.89 After 5 to 10 years 39,546 149 320 39,375 2.33 After 10 years 974,289 4,276 19,982 958,583 2.00 Total collateralized mortgage obligations - federal agencies 1,031,245 4,698 20,346 1,015,597 2.03 Mortgage-backed securities Within 1 year 740 16 - 756 4.39 After 1 to 5 years 14,721 295 189 14,827 3.70 After 5 to 10 years 329,955 3,117 2,079 330,993 2.26 After 10 years 4,335,400 27,249 49,699 4,312,950 2.46 Total mortgage-backed securities 4,680,816 30,677 51,967 4,659,526 2.45 Equity securities (without contractual maturity) 985 900 - 1,885 8.22 Other After 5 to 10 years 848 21 - 869 3.62 Total other 848 21 - 869 3.62 Total investment securities available-for-sale [1] $ 9,107,581 $ 37,936 $ 84,516 $ 9,061,001 1.99 % [1]Includes $6.7 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 $5.7 billion serve as collateral for public funds. At December 31, 2016 Gross Gross Weighted Amortized unrealized unrealized Fair average (In thousands) cost gains losses value yield U.S. Treasury securities Within 1 year $ 844,002 $ 1,254 $ 28 $ 845,228 1.00 % After 1 to 5 years 1,300,729 214 9,551 1,291,392 1.11 Total U.S. Treasury securities 2,144,731 1,468 9,579 2,136,620 1.06 Obligations of U.S. Government sponsored entities Within 1 year 100,050 102 - 100,152 0.98 After 1 to 5 years 613,293 710 2,505 611,498 1.38 After 5 to 10 years 200 - - 200 5.64 Total obligations of U.S. Government sponsored entities 713,543 812 2,505 711,850 1.32 Obligations of Puerto Rico, States and political subdivisions After 1 to 5 years 6,419 - 161 6,258 2.89 After 5 to 10 years 5,000 - 1,550 3,450 3.80 After 10 years 17,605 - 4,542 13,063 7.09 Total obligations of Puerto Rico, States and political subdivisions 29,024 - 6,253 22,771 5.60 Collateralized mortgage obligations - federal agencies Within 1 year 13 - - 13 1.23 After 1 to 5 years 18,524 429 28 18,925 2.89 After 5 to 10 years 39,178 428 61 39,545 2.68 After 10 years 1,180,686 6,313 23,956 1,163,043 1.99 Total collateralized mortgage obligations - federal agencies 1,238,401 7,170 24,045 1,221,526 2.02 Mortgage-backed securities Within 1 year 55 1 - 56 4.76 After 1 to 5 years 19,960 537 43 20,454 3.86 After 5 to 10 years 317,185 3,701 1,721 319,165 2.29 After 10 years 3,805,675 28,772 68,790 3,765,657 2.47 Total mortgage-backed securities 4,142,875 33,011 70,554 4,105,332 2.46 Equity securities (without contractual maturity) 1,246 876 - 2,122 7.94 Other Within 1 year 8,539 11 - 8,550 1.78 After 5 to 10 years 1,004 31 - 1,035 3.62 Total other 9,543 42 - 9,585 1.97 Total investment securities available-for-sale [1] $ 8,279,363 $ 43,379 $ 112,936 $ 8,209,806 1.94 % [1]Includes $4.1 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 $3.4 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 based on the period of final contractual maturity. The expected maturities of collateralized mortgage obligations, mortgage-backed securities and certain other securities may differ from their contrac tual maturities because they may be subject to prepayments or may be called by the issuer. During the nine months ended September 30, 2017 , the Corporation sold equity securities and obligations from Puerto Rico government and its political subdivisio ns with a realized gain of $284 thousand . The proceeds from these sales were $14.9 million . There were no s ecurities sold during the nine months ended September 30, 2016 . 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, 2017 and December 31, 2016 . At September 30, 2017 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 $ 2,195,874 $ 10,309 $ - $ - $ 2,195,874 $ 10,309 Obligations of U.S. Government sponsored entities 496,345 1,797 24,139 97 520,484 1,894 Collateralized mortgage obligations - federal agencies 364,098 5,401 387,284 14,945 751,382 20,346 Mortgage-backed securities 3,042,806 44,187 352,342 7,780 3,395,148 51,967 Total investment securities available-for-sale in an unrealized loss position $ 6,099,123 $ 61,694 $ 763,765 $ 22,822 $ 6,862,888 $ 84,516 At December 31, 2016 Less than 12 months 12 months or more Total Gross Gross Gross Fair unrealized Fair unrealized Fair unrealized (In thousands) value losses value losses value losses U.S. Treasury securities $ 1,162,110 $ 9,579 $ - $ - $ 1,162,110 $ 9,579 Obligations of U.S. Government sponsored entities 430,273 2,426 3,126 79 433,399 2,505 Obligations of Puerto Rico, States and political subdivisions 6,258 161 16,512 6,092 22,770 6,253 Collateralized mortgage obligations - federal agencies 505,503 8,112 339,236 15,933 844,739 24,045 Mortgage-backed securities 3,537,606 70,173 15,113 381 3,552,719 70,554 Total investment securities available-for-sale in an unrealized loss position $ 5,641,750 $ 90,451 $ 373,987 $ 22,485 $ 6,015,737 $ 112,936 As of September 30, 2017 , the available-for-sale investment portfolio reflects gross unrealized losses of approximately $ 85 million, driven by U.S. Treasury Securities, Collateralized Mortgage Obligations, and Mortgage Backed Securities . 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 t o 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 th e results of operations. The OTTI analysis requires management to consider various factors, which include, but are not limited to: (1) the length of time and the extent to which fair value has been less than the amortized cost basis, (2) the financial cond ition of the issuer or issuers, (3) actual collateral attributes, (4) the payment structure of the debt security and the likelihood of the issuer being able to make payments, (5) any rating changes by a rating agency, (6) adverse conditions specifically re lated to the security, industry, or a geographic area, and (7) management’s intent to sell the debt security or whether it is more likely than not that the Corporation would be required to sell the debt security before a forecasted recovery occurs. During the third quarter of 2017, management performed its quarterly analysis of all debt securities in an unrealized loss position. Based on the analysis performed, management concluded that no individual debt security was other-than-tempora r ily-impa i red as su ch date. During the quarter ended on June 30, 2017, the Corporation recognized an other-than-temporary impa i rment charge of $8.3 million on Puerto Rico Sales Tax F inancing Corporation (“COFINA”) bonds classified as available-for-sale. These were subsequently sold by the Corporation during the third quarter of 2017, at a gain of approximately $0.1 million. At September 30, 2017 , the Corporation did not have the intent to sell debt securities in an unrealized loss position and it was not more likely th an not that the Corporation would have to sell the investments securities prior to recovery of their amortized cost basis. During the third quarter of 2016, management performed its quarterly analysis of all debt securities in an unrealized loss position . Based on the analysis performed, management concluded that no individual debt security was other-than-temporarily-impaired as such date. During the quarter ended on June 30, 2016 the Corporation recognized an other-temporary-impairment charge of $209 tho usand on an investment security available-for-sale classified as obligations from Puerto Rico government and its political subdivisions. The security was sold during the fourth quarter of 2016. The following table states the name of issuers, and the aggr egate amortized cost and fair value of the securities of such issuer (includes available-for-sale and held-to-maturity securities), in which the aggregate amortized cost of such securities exceeds 10% of stockholders’ equity. This information excludes secu rities 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, 2017 December 31, 2016 (In thousands) Amortized cost Fair value Amortized cost Fair value FNMA $ 3,531,694 $ 3,502,711 $ 3,255,844 $ 3,211,443 Freddie Mac 1,397,117 1,383,523 1,381,197 1,361,933 |
Held To Maturity Securities Member | |
Investment | Note 7 – 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, 2017 and December 31, 2016 . At September 30, 2017 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 $ 3,295 $ - $ 1,835 $ 1,460 5.97 % After 1 to 5 years 15,485 - 7,142 8,343 6.05 After 5 to 10 years 29,240 - 13,145 16,095 3.89 After 10 years 44,349 3,660 447 47,562 1.94 Total obligations of Puerto Rico, States and political subdivisions 92,369 3,660 22,569 73,460 3.39 Collateralized mortgage obligations - federal agencies After 5 to 10 years 69 4 - 73 5.45 Total collateralized mortgage obligations - federal agencies 69 4 - 73 5.45 Other Within 1 year 500 - 13 487 1.96 After 1 to 5 years 500 - 8 492 2.97 Total other 1,000 - 21 979 2.47 Total investment securities held-to-maturity [1] $ 93,438 $ 3,664 $ 22,590 $ 74,512 3.38 % [1]Includes $92.4 million pledged to secure public and trust deposits that the secured parties are not permitted to sell or repledge the collateral. At December 31, 2016 Gross Gross Weighted Amortized unrealized unrealized Fair average (In thousands) cost gains losses value yield Obligations of Puerto Rico, States and political subdivisions Within 1 year $ 3,105 $ - $ 1,240 $ 1,865 5.90 % After 1 to 5 years 14,540 - 5,957 8,583 6.02 After 5 to 10 years 18,635 - 7,766 10,869 6.20 After 10 years 59,747 1,368 8,892 52,223 1.91 Total obligations of Puerto Rico, States and political subdivisions 96,027 1,368 23,855 73,540 3.49 Collateralized mortgage obligations - federal agencies After 5 to 10 years 74 4 - 78 5.45 Total collateralized mortgage obligations - federal agencies 74 4 - 78 5.45 Other Within 1 year 1,000 - 3 997 1.65 After 1 to 5 years 1,000 - 39 961 2.44 Total other 2,000 - 42 1,958 2.05 Total investment securities held-to-maturity [1] $ 98,101 $ 1,372 $ 23,897 $ 75,576 3.46 % [1]Includes $53.1 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, 2017 and December 31, 2016 . At September 30, 2017 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 $ 6,981 $ 77 $ 26,553 $ 22,492 $ 33,534 $ 22,569 Other 492 8 237 13 729 21 Total investment securities held-to-maturity in an unrealized loss position $ 7,473 $ 85 $ 26,790 $ 22,505 $ 34,263 $ 22,590 At December 31, 2016 Less than 12 months 12 months or more Total Gross Gross Gross Fair unrealized Fair unrealized Fair unrealized (In thousands) value losses value losses value losses Obligations of Puerto Rico, States and political subdivisions $ 31,294 $ 1,702 $ 30,947 $ 22,153 $ 62,241 $ 23,855 Other 491 9 1,217 33 1,708 42 Total investment securities held-to-maturity in an unrealized loss position $ 31,785 $ 1,711 $ 32,164 $ 22,186 $ 63,949 $ 23,897 As indicated in Note 6 to these C onsolidated F inancial S tatements, 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, 2017 are primarily associated with securities issued by municipalities of Puerto Rico and are generally not rated by a credit rating agency. This includes $ 49 million of general and special obligation bonds issued by three municipalities of Puerto Rico , which are payable primarily from, and have a lien on, certain property taxes imposed by the issuing municipality. In the case of general obligations, they also benefit from a pledge of the full faith, credit and unli mited taxing power of the issuing municipality and issuing municipalities are required by law to levy property taxes in an amount sufficient for the payment of debt service on such general obligations bonds. The p ortfolio also includes approximately $ 43 million in securities for which the underlying source of payment is not the central government, but in which a government instrumentality provides a guarantee in the event of default . The Corporation performs periodic credit quality reviews on thes e issuers. Based on the quarterly analysis performed, management concluded that no individual debt security held-to-maturity was other-than-temporarily impaired at September 30, 2017 . Further deterioration of the fiscal crisis of the Government of Puerto Ric o or of Puerto Rico’s economy 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 inves tment securities prior to recovery of their amortized cost basis . Refer to Note 22 for additional information on the Corporation’s exposure to the Puerto Rico Government . |
Loans
Loans | 9 Months Ended |
Sep. 30, 2017 | |
Receivables | |
Loans | Note 8 – 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 10 . 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 2016 Form 10-K. D uring the quarter and nine months ended September 30, 2017 , the Corporation recorded purchases (including repurchases) of mortgage loans amounting to $ 104 million and $364 million, respectively ; consumer loans of $133 million and $283 million, respectively; and leases of $2 million, for the nine months ended September 30, 2017. During the quarter and nine months ended September 30, 2016 , the Corporation recorded purchases (including repurc hases) 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. The Corporation performed whole-loan sales in volving approximately $9 million and $63 million of residential mortgage loans during the quarter and nine months ended September 30, 2017 , respectively ( September 30, 2016 - $13 million and $53 million, respectively). Excluding the bulk sale of Westernbank loans with a carrying value of approximately $100 million, the Corporation sold commercial 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 . Also, the Corporation securitized approximately $ 86 million and $ 369 million of mortgage loans into Government National Mortgage Association (“GNMA”) mortgage-backed securities during th e quarter and nine months ended September 30, 2017 , respectively ( September 30, 2016 - $ 161 million and $ 465 million, respectively). Furthermore, the Corporation securitized approximately $ 21 million and $ 86 millio n of mortgage loans into Federal National Mortgage Association (“FNMA”) mortgage-backed securities during the quarter and nine months ended September 30, 2017 , respectively ( September 30, 2016 - $ 50 million and $ 129 million, respectiv ely). The disruption in our operations over the last 10 days of the quarter impacted the volume of loan sales and securitizations. Non-covered loans The following table presents the composition of non-covered loans held-in-portfolio (“HIP”), net of unearned income , by past due status at September 30, 2017 and December 31, 2016 , including loans previously covered by the commercial FDIC loss sharing agreements. September 30, 2017 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 $ 108 $ 157 $ 1,060 $ 1,325 $ 145,226 $ 146,551 Commercial real estate non-owner occupied 39,076 10,571 34,234 83,881 2,440,914 2,524,795 Commercial real estate owner occupied 24,283 8,107 103,379 135,769 1,536,504 1,672,273 Commercial and industrial 5,708 1,806 45,993 53,507 2,772,485 2,825,992 Construction - - 269 269 87,436 87,705 Mortgage 583,383 221,646 856,307 1,661,336 4,154,169 5,815,505 Leasing 12,990 4,543 2,684 20,217 734,664 754,881 Consumer: Credit cards 17,523 9,863 20,626 48,012 1,035,234 1,083,246 Home equity lines of credit 117 243 48 408 5,716 6,124 Personal 24,363 10,640 20,247 55,250 1,159,081 1,214,331 Auto 44,331 18,933 12,259 75,523 746,481 822,004 Other 575 357 16,491 17,423 147,242 164,665 Total $ 752,457 $ 286,866 $ 1,113,597 $ 2,152,920 $ 14,965,152 $ 17,118,072 September 30, 2017 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 $ 1,414 $ - $ - $ 1,414 $ 1,179,773 $ 1,181,187 Commercial real estate non-owner occupied - 800 3,074 3,874 1,565,321 1,569,195 Commercial real estate owner occupied 4,350 - 486 4,836 283,948 288,784 Commercial and industrial 960 1,766 94,407 97,133 921,185 1,018,318 Construction 5,243 - - 5,243 730,377 735,620 Mortgage 2,253 6,193 14,348 22,794 690,936 713,730 Legacy 111 275 3,268 3,654 33,854 37,508 Consumer: Credit cards 10 6 13 29 51 80 Home equity lines of credit 5,993 2,446 11,960 20,399 176,419 196,818 Personal 2,321 1,750 2,342 6,413 307,430 313,843 Auto - - - - 3 3 Other - 25 22 47 245 292 Total $ 22,655 $ 13,261 $ 129,920 $ 165,836 $ 5,889,542 $ 6,055,378 September 30, 2017 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 $ 1,522 $ 157 $ 1,060 $ 2,739 $ 1,324,999 $ 1,327,738 Commercial real estate non-owner occupied 39,076 11,371 37,308 87,755 4,006,235 4,093,990 Commercial real estate owner occupied 28,633 8,107 103,865 140,605 1,820,452 1,961,057 Commercial and industrial 6,668 3,572 140,400 150,640 3,693,670 3,844,310 Construction 5,243 - 269 5,512 817,813 823,325 Mortgage 585,636 227,839 870,655 1,684,130 4,845,105 6,529,235 Leasing 12,990 4,543 2,684 20,217 734,664 754,881 Legacy [3] 111 275 3,268 3,654 33,854 37,508 Consumer: Credit cards 17,533 9,869 20,639 48,041 1,035,285 1,083,326 Home equity lines of credit 6,110 2,689 12,008 20,807 182,135 202,942 Personal 26,684 12,390 22,589 61,663 1,466,511 1,528,174 Auto 44,331 18,933 12,259 75,523 746,484 822,007 Other 575 382 16,513 17,470 147,487 164,957 Total $ 775,112 $ 300,127 $ 1,243,517 $ 2,318,756 $ 20,854,694 $ 23,173,450 [1] Non-covered loans held-in-portfolio are net of $129 million in unearned income and exclude $69 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 $4.7 billion were pledged at the Federal Home Loan Bank ("FHLB") as collateral for borrowings, $2.2 billion at the Federal Reserve Bank ("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, 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 $ 232 $ - $ 664 $ 896 $ 173,644 $ 174,540 Commercial real estate non-owner occupied 98,604 4,785 51,435 154,824 2,409,461 2,564,285 Commercial real estate owner occupied 12,967 5,014 112,997 130,978 1,660,497 1,791,475 Commercial and industrial 19,156 2,638 32,147 53,941 2,617,976 2,671,917 Construction - - 1,668 1,668 83,890 85,558 Mortgage 289,635 136,558 801,251 1,227,444 4,689,056 5,916,500 Leasing 6,619 1,356 3,062 11,037 691,856 702,893 Consumer: Credit cards 11,646 8,752 18,725 39,123 1,061,484 1,100,607 Home equity lines of credit - 65 185 250 8,101 8,351 Personal 12,148 7,918 20,686 40,752 1,109,425 1,150,177 Auto 32,441 7,217 12,320 51,978 774,614 826,592 Other 1,259 294 19,311 20,864 154,665 175,529 Total $ 484,707 $ 174,597 $ 1,074,451 $ 1,733,755 $ 15,434,669 $ 17,168,424 December 31, 2016 U.S. mainland Past due 30-59 60-89 90 days Total Loans HIP (In thousands) days days or more past due Current U.S. mainland Commercial multi-family $ 5,952 $ - $ 206 $ 6,158 $ 1,058,138 $ 1,064,296 Commercial real estate non-owner occupied 1,992 379 1,195 3,566 1,353,750 1,357,316 Commercial real estate owner occupied 2,116 540 472 3,128 240,617 243,745 Commercial and industrial 960 610 101,257 102,827 828,106 930,933 Construction - - - - 690,742 690,742 Mortgage 15,974 5,272 11,713 32,959 746,902 779,861 Legacy 833 346 3,337 4,516 40,777 45,293 Consumer: Credit cards 8 28 30 66 92 158 Home equity lines of credit 2,908 1,055 4,762 8,725 243,450 252,175 Personal 2,547 1,675 1,864 6,086 234,521 240,607 Auto - - - - 9 9 Other - - 8 8 180 188 Total $ 33,290 $ 9,905 $ 124,844 $ 168,039 $ 5,437,284 $ 5,605,323 December 31, 2016 Popular, Inc. Past due Non-covered 30-59 60-89 90 days Total loans HIP (In thousands) days days or more past due Current Popular, Inc. [1] [2] Commercial multi-family $ 6,184 $ - $ 870 $ 7,054 $ 1,231,782 $ 1,238,836 Commercial real estate non-owner occupied 100,596 5,164 52,630 158,390 3,763,211 3,921,601 Commercial real estate owner occupied 15,083 5,554 113,469 134,106 1,901,114 2,035,220 Commercial and industrial 20,116 3,248 133,404 156,768 3,446,082 3,602,850 Construction - - 1,668 1,668 774,632 776,300 Mortgage 305,609 141,830 812,964 1,260,403 5,435,958 6,696,361 Leasing 6,619 1,356 3,062 11,037 691,856 702,893 Legacy [3] 833 346 3,337 4,516 40,777 45,293 Consumer: Credit cards 11,654 8,780 18,755 39,189 1,061,576 1,100,765 Home equity lines of credit 2,908 1,120 4,947 8,975 251,551 260,526 Personal 14,695 9,593 22,550 46,838 1,343,946 1,390,784 Auto 32,441 7,217 12,320 51,978 774,623 826,601 Other 1,259 294 19,319 20,872 154,845 175,717 Total $ 517,997 $ 184,502 $ 1,199,295 $ 1,901,794 $ 20,871,953 $ 22,773,747 [1] Non-covered loans held-in-portfolio are net of $121 million in unearned income and exclude $89 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 $4.5 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. T he level of delinquencies as of September 30, 2017 was impacted by the disruptions caused by H urricanes Irma and Maria. The Corporation’s payment channels, collection efforts and loss mitigation op erations were interrupted and most ly unavailable for the l ast 10 days of the quarter. T he 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, 2017 and December 31, 2016 . Accruing loans past due 90 days or more consist primarily of credit cards, Federal Housing Administration (“ FHA ”) / U.S. Department of Veterans Affairs (“ VA ”) and other insured mortgage loans, and delinquent mortgage loans which are included in the Corporation’s f inancial 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 th ey elect not to exercise that option. At September 30, 2017 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 $ 1,060 $ - $ - $ - $ 1,060 $ - Commercial real estate non-owner occupied 23,028 - 3,074 - 26,102 - Commercial real estate owner occupied 90,346 - 486 - 90,832 - Commercial and industrial 45,609 384 1,749 - 47,358 384 Construction 99 - - - 99 - Mortgage [3] 337,967 443,377 14,348 - 352,315 443,377 Leasing 2,684 - - - 2,684 - Legacy - - 3,268 - 3,268 - Consumer: Credit cards - 20,626 13 - 13 20,626 Home equity lines of credit - 48 11,960 - 11,960 48 Personal 19,738 77 2,342 - 22,080 77 Auto 12,259 - - - 12,259 - Other 15,876 615 22 - 15,898 615 Total [2] $ 548,666 $ 465,127 $ 37,262 $ - $ 585,928 $ 465,127 [1] Non-covered loans of $ 192 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 $ 157 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, 2017 . Furthermore, the Co rporation has approximately $ 57 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, 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 $ 664 $ - $ 206 $ - $ 870 $ - Commercial real estate non-owner occupied 24,611 - 1,195 - 25,806 - Commercial real estate owner occupied 102,771 - 472 - 103,243 - Commercial and industrial 31,609 538 1,820 - 33,429 538 Mortgage [3] 318,194 406,583 11,713 - 329,907 406,583 Leasing 3,062 - - - 3,062 - Legacy - - 3,337 - 3,337 - Consumer: Credit cards - 18,725 30 - 30 18,725 Home equity lines of credit - 185 4,762 - 4,762 185 Personal 20,553 34 1,864 - 22,417 34 Auto 12,320 - - - 12,320 - Other 18,724 587 8 - 18,732 587 Total [2] $ 532,508 $ 426,652 $ 25,407 $ - $ 557,915 $ 426,652 [1 ] Non-covered loans by $ 215 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 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 $ 181 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, 2016 . Furthermore, the Corporation has approximately $68 million in reverse mortgage loans in Puerto Rico which are guaranteed by FHA, but which are currently not accruing interest. Due to the guaranteed nature of the loans, it is the Corporation’s policy to exclude these balances from non-performing assets . Covered loans T he following tables present the composition of loans by past due status at September 30, 2017 and December 31, 2016 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, 2017 Past due 30-59 60-89 90 days Total Covered (In thousands) days days or more past due Current loans HIP [1] Mortgage $ 47,726 $ 16,104 $ 60,973 $ 124,803 $ 385,408 $ 510,211 Consumer 1,503 442 1,004 2,949 11,694 14,643 Total covered loans $ 49,229 $ 16,546 $ 61,977 $ 127,752 $ 397,102 $ 524,854 [1] Includes $296 million pledged to secure credit facilities at the FHLB which are not permitted to sell or repledge the collateral. December 31, 2016 Past due 30-59 60-89 90 days Total Covered (In thousands) days days or more past due Current loans HIP [1] Mortgage $ 25,506 $ 12,904 $ 69,856 $ 108,266 $ 448,304 $ 556,570 Consumer 751 245 1,074 2,070 14,238 16,308 Total covered loans $ 26,257 $ 13,149 $ 70,930 $ 110,336 $ 462,542 $ 572,878 [1] Includes $337 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, 2017 and December 31, 2016 . September 30, 2017 December 31, 2016 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 $ 3,210 $ - $ 3,794 $ - Consumer 196 - 121 - Total [1] $ 3,406 $ - $ 3,915 $ - [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, 2017 ( December 31, 2016 - $ 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, 2017 December 31, 2016 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 $ 902,908 $ 14,491 $ 917,399 $ 985,181 $ 14,440 $ 999,621 Commercial and industrial 86,795 - 86,795 103,476 - 103,476 Construction - 170 170 - 1,668 1,668 Mortgage 544,745 21,592 566,337 587,949 25,781 613,730 Consumer 17,075 771 17,846 18,775 1,059 19,834 Carrying amount [1] 1,551,523 37,024 1,588,547 1,695,381 42,948 1,738,329 Allowance for loan losses (61,034) (6,066) (67,100) (61,855) (7,022) (68,877) Carrying amount, net of allowance $ 1,490,489 $ 30,958 $ 1,521,447 $ 1,633,526 $ 35,926 $ 1,669,452 [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 $515 million as of September 30, 2017 and $563 million as of December 31, 2016. The outstanding principal balance of Westernbank loans accounted pursuant to ASC Subtopic 310-30, amounted to $ 1.9 billion at September 30, 2017 (December 31, 2016 - $ 2.1 billion). At September 30, 2017 , 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, 2017 and 2016 , w ere as follows: Activity in the accretable yield Westernbank loans ASC 310-30 For the quarters ended September 30, 2017 September 30, 2016 Non-credit Credit Non-credit Credit (In thousands) impaired loans impaired loans Total impaired loans impaired loans Total Beginning balance $ 936,204 $ 6,464 $ 942,668 $ 1,061,971 $ 9,709 $ 1,071,680 Accretion (34,064) (726) (34,790) (38,597) (993) (39,590) Change in expected cash flows 1,842 (391) 1,451 6,992 (390) 6,602 Ending balance $ 903,982 $ 5,347 $ 909,329 $ 1,030,366 $ 8,326 $ 1,038,692 Activity in the accretable yield Westernbank loans ASC 310-30 For the nine months ended September 30, 2017 September 30, 2016 Non-credit Credit Non-credit Credit impaired impaired impaired impaired (In thousands) loans loans Total loans loans Total Beginning balance $ 1,001,908 $ 8,179 $ 1,010,087 $ 1,105,732 $ 6,726 $ 1,112,458 Accretion (105,759) (2,411) (108,170) (125,734) (5,865) (131,599) Change in expected cash flows 7,833 (421) 7,412 50,368 7,465 57,833 Ending balance $ 903,982 $ 5,347 $ 909,329 $ 1,030,366 $ 8,326 $ 1,038,692 Carrying amount of Westernbank loans accounted for pursuant to ASC 310-30 For the quarters ended September 30, 2017 September 30, 2016 Non-credit Credit Non-credit Credit (In thousands) impaired loans impaired loans Total impaired loans impaired loans Total Beginning balance $ 1,579,196 $ 38,591 $ 1,617,787 $ 1,754,613 $ 45,330 $ 1,799,943 Accretion 34,064 726 34,790 38,597 993 39,590 Collections / loan sales / charge-offs (61,737) (2,293) (64,030) (69,030) (2,964) (71,994) Ending balance [1] $ 1,551,523 $ 37,024 $ 1,588,547 $ 1,724,180 $ 43,359 $ 1,767,539 Allowance for loan losses ASC 310-30 Westernbank loans (61,034) (6,066) (67,100) (62,114) (7,457) (69,571) Ending balance, net of ALLL $ 1,490,489 $ 30,958 $ 1,521,447 $ 1,662,066 $ 35,902 $ 1,697,968 [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 $ 515 million as of September 30, 2017 (September 30, 2016- $578 million). Carrying amount of Westernbank loans accounted for pursuant to ASC 310-30 For the nine months ended September 30, 2017 September 30, 2016 Non-credit Credit Non-credit Credit impaired impaired impaired impaired (In thousands) loans loans Total loans loans Total Beginning balance $ 1,695,381 $ 42,948 $ 1,738,329 $ 1,898,146 $ 76,355 $ 1,974,501 Accretion 105,759 2,411 108,170 125,734 5,865 131,599 Collections / loan sales / charge-offs [1] (249,617) (8,335) (257,952) (299,700) (38,861) (338,561) Ending balance [2] $ 1,551,523 $ 37,024 $ 1,588,547 $ 1,724,180 $ 43,359 $ 1,767,539 Allowance for loan losses ASC 310-30 Westernbank loans (61,034) (6,066) (67,100) (62,114) (7,457) (69,571) Ending balance, net of ALLL $ 1,490,489 $ 30,958 $ 1,521,447 $ 1,662,066 $ 35,902 $ 1,697,968 [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 $515 million as of September 30, 2017 (September 30, 2016- $578 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 $ 598 m illion at September 30, 2017 (December 31, 2016 - $700 million). At September 30, 2017 , 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, 2017 and 2016 w ere 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, 2017 September 30, 2016 Beginning balance $ 303,004 $ 272,609 Additions 2,882 3,809 Accretion (7,945) (8,689) Change in expected cash flows (7,926) 8,672 Ending balance $ 290,015 $ 276,401 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, 2017 September 30, 2016 Beginning balance $ 278,896 $ 221,128 Additions 8,737 12,320 Accretion (25,203) (25,974) Change in expected cash flows 27,585 68,927 Ending balance $ 290,015 $ 276,401 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, 2017 September 30, 2016 Beginning balance $ 550,877 562,745 Additions 4,792 8,349 Accretion 7,945 8,689 Collections and charge-offs (18,215) (17,861) Ending balance $ 545,399 $ 561,922 Allowance for loan losses ASC 310-30 other acquired loans (70,930) (18,550) Ending balance, net of ALLL $ 474,469 $ 543,372 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, 2017 September 30, 2016 Beginning balance $ 562,695 $ 564,050 Purchase accounting adjustments related to the Doral Bank Transaction (Refer to Note 15) - (4,707) Additions 14,671 26,754 Accretion 25,203 25,974 Collections and charge-offs (57,170) (50,149) Ending balance $ 545,399 $ 561,922 Allowance for loan losses ASC 310-30 other acquired loans (70,930) (18,550) Ending balance, net of ALLL $ 474,469 $ 543,372 |
Allowance for loan losses
Allowance for loan losses | 9 Months Ended |
Sep. 30, 2017 | |
Receivables | |
Allowance for loan losses | Note 9 – 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, 2017 , 45 % ( September 30, 2016 - 49 %) 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, credit cards, personal, auto and other consumer loan portfolios for 2017 and in the leasing, auto, other consumer loan and m ortgage loan portfolios for 2016. For the period ended September 30, 2017 , 5 % ( September 30, 2016 - 4 %) of our BPNA se gment loan portfolios utilized the recent loss trend adjustment instead of the base loss . The effect of replacing t he base loss with the recent loss trend adjustment was concentrated in the consumer portfolio s for 201 7 and 201 6 . Environmental factors, which include credit and macroeconomic indicators such as unemployment rate, economic activity index and delinquency ra tes, adopted to account for current market conditions that are likely to cause estimated credit losses to differ from historical losses. The Corporation reflects the effect of these environmental factors on each loan group as an adjustment that, as appropr iate, 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 th e allowance for loan losses. As discussed in Note 2 - Hurricanes impact, during the quarter ended September 30, 2017, an incremental provision expense of $69.9 million was made to the allowance for loan losses based on management’s best estimate of the impact of the hurricanes on the Corporation’s loan portfolios and the ability of borrowers to repay their loans, taking into consideration currently available information and the already challenging economic environment in Puerto Rico prior to the hurricanes. Refer to Note 2 for additional information. 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, 2017 and 2016 . For the quarter ended September 30, 2017 Puerto Rico - Non-covered loans (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses: Beginning balance $ 174,189 $ 1,473 $ 147,866 $ 8,003 $ 122,904 $ 454,435 Provision (reversal of provision) 31,059 176 38,838 3,924 41,118 115,115 Charge-offs (5,573) 9 (17,460) (1,733) (31,793) (56,550) Recoveries 6,011 41 389 238 4,570 11,249 Ending balance $ 205,686 $ 1,699 $ 169,633 $ 10,432 $ 136,799 $ 524,249 Specific ALLL $ 40,863 $ - $ 49,129 $ 450 $ 21,730 $ 112,172 General ALLL $ 164,823 $ 1,699 $ 120,504 $ 9,982 $ 115,069 $ 412,077 Loans held-in-portfolio: Impaired non-covered loans $ 328,704 $ - $ 510,134 $ 1,468 $ 101,948 $ 942,254 Non-covered loans held-in-portfolio excluding impaired loans 6,840,907 87,705 5,305,371 753,413 3,188,422 16,175,818 Total non-covered loans held-in-portfolio $ 7,169,611 $ 87,705 $ 5,815,505 $ 754,881 $ 3,290,370 $ 17,118,072 For the quarter ended September 30, 2017 Puerto Rico - Covered loans (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses: Beginning balance $ - $ - $ 30,284 $ - $ 524 $ 30,808 Provision (reversal of provision) - - 2,538 - 562 3,100 Charge-offs - - (863) - (24) (887) Recoveries - - 32 - 4 36 Ending balance $ - $ - $ 31,991 $ - $ 1,066 $ 33,057 Specific ALLL $ - $ - $ - $ - $ - $ - General ALLL $ - $ - $ 31,991 $ - $ 1,066 $ 33,057 Loans held-in-portfolio: Impaired covered loans $ - $ - $ - $ - $ - $ - Covered loans held-in-portfolio excluding impaired loans - - 510,211 - 14,643 524,854 Total covered loans held-in-portfolio $ - $ - $ 510,211 $ - $ 14,643 $ 524,854 For the quarter ended September 30, 2017 U.S. Mainland (In thousands) Commercial Construction Mortgage Legacy Consumer Total Allowance for credit losses: Beginning balance $ 28,319 $ 6,528 $ 4,122 $ 993 $ 14,809 $ 54,771 Provision (reversal of provision) 39,246 595 (39) (418) 3,160 42,544 Charge-offs (4,553) - (113) (86) (4,957) (9,709) Recoveries 271 - 287 383 1,060 2,001 Ending balance $ 63,283 $ 7,123 $ 4,257 $ 872 $ 14,072 $ 89,607 Specific ALLL $ - $ - $ 2,292 $ - $ 727 $ 3,019 General ALLL $ 63,283 $ 7,123 $ 1,965 $ 872 $ 13,345 $ 86,588 Loans held-in-portfolio: Impaired loans $ - $ - $ 9,094 $ - $ 3,439 $ 12,533 Loans held-in-portfolio excluding impaired loans 4,057,484 735,620 704,636 37,508 507,597 6,042,845 Total loans held-in-portfolio $ 4,057,484 $ 735,620 $ 713,730 $ 37,508 $ 511,036 $ 6,055,378 For the quarter ended September 30, 2017 Popular, Inc. (In thousands) Commercial Construction Mortgage Legacy Leasing Consumer Total Allowance for credit losses: Beginning balance $ 202,508 $ 8,001 $ 182,272 $ 993 $ 8,003 $ 138,237 $ 540,014 Provision (reversal of provision) 70,305 771 41,337 (418) 3,924 44,840 160,759 Charge-offs (10,126) 9 (18,436) (86) (1,733) (36,774) (67,146) Recoveries 6,282 41 708 383 238 5,634 13,286 Ending balance $ 268,969 $ 8,822 $ 205,881 $ 872 $ 10,432 $ 151,937 $ 646,913 Specific ALLL $ 40,863 $ - $ 51,421 $ - $ 450 $ 22,457 $ 115,191 General ALLL $ 228,106 $ 8,822 $ 154,460 $ 872 $ 9,982 $ 129,480 $ 531,722 Loans held-in-portfolio: Impaired loans $ 328,704 $ - $ 519,228 $ - $ 1,468 $ 105,387 $ 954,787 Loans held-in-portfolio excluding impaired loans 10,898,391 823,325 6,520,218 37,508 753,413 3,710,662 22,743,517 Total loans held-in-portfolio $ 11,227,095 $ 823,325 $ 7,039,446 $ 37,508 $ 754,881 $ 3,816,049 $ 23,698,304 For the nine months ended September 30, 2017 Puerto Rico - Non-covered loans (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses: Beginning balance $ 189,686 $ 1,353 $ 143,320 $ 7,662 $ 125,963 $ 467,984 Provision (reversal of provision) 29,945 (2,218) 77,692 6,516 76,831 188,766 Charge-offs (38,219) (3,646) (53,936) (5,030) (81,607) (182,438) Recoveries 24,274 6,210 2,557 1,284 15,612 49,937 Ending balance $ 205,686 $ 1,699 $ 169,633 $ 10,432 $ 136,799 $ 524,249 Specific ALLL $ 40,863 $ - $ 49,129 $ 450 $ 21,730 $ 112,172 General ALLL $ 164,823 $ 1,699 $ 120,504 $ 9,982 $ 115,069 $ 412,077 Loans held-in-portfolio: Impaired non-covered loans $ 328,704 $ - $ 510,134 $ 1,468 $ 101,948 $ 942,254 Non-covered loans held-in-portfolio excluding impaired loans 6,840,907 87,705 5,305,371 753,413 3,188,422 16,175,818 Total non-covered loans held-in-portfolio $ 7,169,611 $ 87,705 $ 5,815,505 $ 754,881 $ 3,290,370 $ 17,118,072 For the nine months ended September 30, 2017 Puerto Rico - Covered loans (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses: Beginning balance $ - $ - $ 30,159 $ - $ 191 $ 30,350 Provision (reversal of provision) - - 3,253 - 1,002 4,255 Charge-offs - - (2,700) - (134) (2,834) Recoveries - - 1,279 - 7 1,286 Ending balance $ - $ - $ 31,991 $ - $ 1,066 $ 33,057 Specific ALLL $ - $ - $ - $ - $ - $ - General ALLL $ - $ - $ 31,991 $ - $ 1,066 $ 33,057 Loans held-in-portfolio: Impaired covered loans $ - $ - $ - $ - $ - $ - Covered loans held-in-portfolio excluding impaired loans - - 510,211 - 14,643 524,854 Total covered loans held-in-portfolio $ - $ - $ 510,211 $ - $ 14,643 $ 524,854 For the nine months ended September 30, 2017 U.S. Mainland (In thousands) Commercial Construction Mortgage Legacy Consumer Total Allowance for credit losses: Beginning balance $ 12,968 $ 8,172 $ 4,614 $ 1,343 $ 15,220 $ 42,317 Provision (reversal of provision) 53,491 (1,049) (173) (1,554) 10,200 60,915 Charge-offs (4,774) - (1,064) (669) (14,476) (20,983) Recoveries 1,598 - 880 1,752 3,128 7,358 Ending balance $ 63,283 $ 7,123 $ 4,257 $ 872 $ 14,072 $ 89,607 Specific ALLL $ - $ - $ 2,292 $ - $ 727 $ 3,019 General ALLL $ 63,283 $ 7,123 $ 1,965 $ 872 $ 13,345 $ 86,588 Loans held-in-portfolio: Impaired loans $ - $ - $ 9,094 $ - $ 3,439 $ 12,533 Loans held-in-portfolio excluding impaired loans 4,057,484 735,620 704,636 37,508 507,597 6,042,845 Total loans held-in-portfolio $ 4,057,484 $ 735,620 $ 713,730 $ 37,508 $ 511,036 $ 6,055,378 For the nine months ended September 30, 2017 Popular, Inc. (In thousands) Commercial Construction Mortgage Legacy Leasing Consumer Total Allowance for credit losses: Beginning balance $ 202,654 $ 9,525 $ 178,093 $ 1,343 $ 7,662 $ 141,374 $ 540,651 Provision (reversal of provision) 83,436 (3,267) 80,772 (1,554) 6,516 88,033 253,936 Charge-offs (42,993) (3,646) (57,700) (669) (5,030) (96,217) (206,255) Recoveries 25,872 6,210 4,716 1,752 1,284 18,747 58,581 Ending balance $ 268,969 $ 8,822 $ 205,881 $ 872 $ 10,432 $ 151,937 $ 646,913 Specific ALLL $ 40,863 $ - $ 51,421 $ - $ 450 $ 22,457 $ 115,191 General ALLL $ 228,106 $ 8,822 $ 154,460 $ 872 $ 9,982 $ 129,480 $ 531,722 Loans held-in-portfolio: Impaired loans $ 328,704 $ - $ 519,228 $ - $ 1,468 $ 105,387 $ 954,787 Loans held-in-portfolio excluding impaired loans 10,898,391 823,325 6,520,218 37,508 753,413 3,710,662 22,743,517 Total loans held-in-portfolio $ 11,227,095 $ 823,325 $ 7,039,446 $ 37,508 $ 754,881 $ 3,816,049 $ 23,698,304 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 - Continuing Operations (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 (write-downs) 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 (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 (write-downs) 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 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, 2017 September 30, 2016 September 30, 2017 September 30, 2016 Balance at beginning of period $ 65,674 $ 66,995 $ 68,877 $ 63,563 Provision (reversal of provision) 2,995 6,710 8,214 2,640 Net recoveries (charge-offs) (1,569) (4,134) (9,991) 3,368 Balance at end of period $ 67,100 $ 69,571 $ 67,100 $ 69,571 Impaired loans The following tables prese nt loans individually evaluated for impairment at September 30, 2017 and December 31, 2016 . September 30, 2017 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 $ 204 $ 204 $ 30 $ - $ - $ 204 $ 204 $ 30 Commercial real estate non-owner occupied 109,814 120,252 25,535 7,617 12,780 117,431 133,032 25,535 Commercial real estate owner occupied 120,196 178,892 8,729 28,389 59,034 148,585 237,926 8,729 Commercial and industrial 46,807 49,869 6,569 15,677 25,105 62,484 74,974 6,569 Mortgage 452,734 502,908 49,129 57,400 69,694 510,134 572,602 49,129 Leasing 1,468 1,468 450 - - 1,468 1,468 450 Consumer: Credit cards 35,782 35,782 5,500 - - 35,782 35,782 5,500 Personal 63,015 63,015 15,616 - - 63,015 63,015 15,616 Auto 2,049 2,049 440 - - 2,049 2,049 440 Other 1,102 1,102 174 - - 1,102 1,102 174 Total Puerto Rico $ 833,171 $ 955,541 $ 112,172 $ 109,083 $ 166,613 $ 942,254 $ 1,122,154 $ 112,172 September 30, 2017 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 $ 6,501 $ 8,282 $ 2,292 $ 2,593 $ 3,513 $ 9,094 $ 11,795 $ 2,292 Consumer: HELOCs 2,149 2,158 501 519 536 2,668 2,694 501 Personal 554 555 226 217 217 771 772 226 Total U.S. mainland $ 9,204 $ 10,995 $ 3,019 $ 3,329 $ 4,266 $ 12,533 $ 15,261 $ 3,019 September 30, 2017 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 $ 204 $ 204 $ 30 $ - $ - $ 204 $ 204 $ 30 Commercial real estate non-owner occupied 109,814 120,252 25,535 7,617 12,780 117,431 133,032 25,535 Commercial real estate owner occupied 120,196 178,892 8,729 28,389 59,034 148,585 237,926 8,729 Commercial and industrial 46,807 49,869 6,569 15,677 25,105 62,484 74,974 6,569 Mortgage 459,235 511,190 51,421 59,993 73,207 519,228 584,397 51,421 Leasing 1,468 1,468 450 - - 1,468 1,468 450 Consumer: Credit Cards 35,782 35,782 5,500 - - 35,782 35,782 5,500 HELOCs 2,149 2,158 501 519 536 2,668 2,694 501 Personal 63,569 63,570 15,842 217 217 63,786 63,787 15,842 Auto 2,049 2,049 440 - - 2,049 2,049 440 Other 1,102 1,102 174 - - 1,102 1,102 174 Total Popular, Inc. $ 842,375 $ 966,536 $ 115,191 $ 112,412 $ 170,879 $ 954,787 $ 1,137,415 $ 115,191 December 31, 2016 Puerto Rico Impaired Loans – With an Impaired Loans Allowance With No Allowance Impaired Loans - Total Unpaid Unpaid Unpaid Recorded principal Related Recorded principal Recorded principal Related (In thousands) investment balance allowance investment balance investment balance allowance Commercial multi-family $ 82 $ 82 $ 34 $ - $ - $ 82 $ 82 $ 34 Commercial real estate non-owner occupied 104,119 105,047 24,537 15,935 29,631 120,054 134,678 24,537 Commercial real estate owner occupied 131,634 169,013 13,007 31,962 50,094 163,596 219,107 13,007 Commercial and industrial 46,862 49,301 4,797 7,828 11,478 54,690 60,779 4,797 Mortgage 426,737 466,249 42,428 70,751 87,806 497,488 554,055 42,428 Leasing 1,817 1,817 535 - - 1,817 1,817 535 Consumer: Credit cards 37,464 37,464 5,588 - - 37,464 37,464 5,588 Personal 66,043 66,043 16,955 - - 66,043 66,043 16,955 Auto 2,117 2,117 474 - - 2,117 2,117 474 Other 991 991 168 - - 991 991 168 Total Puerto Rico $ 817,866 $ 898,124 $ 108,523 $ 126,476 $ 179,009 $ 944,342 $ 1,077,133 $ 108,523 December 31, 2016 U.S. mainland Impaired Loans – With an Impaired Loans Allowance With No Allowance Impaired Loans - Total Unpaid Unpaid Unpaid Recorded principal Related Recorded principal Recorded principal Related (In thousands) investment balance allowance investment balance investment balance allowance Mortgage $ 6,381 $ 7,971 $ 2,182 $ 2,495 $ 3,369 $ 8,876 $ 11,340 $ 2,182 Consumer: HELOCs 2,421 2,429 667 300 315 2,721 2,744 667 Personal 39 39 5 79 79 118 118 5 Total U.S. mainland $ 8,841 $ 10,439 $ 2,854 $ 2,874 $ 3,763 $ 11,715 $ 14,202 $ 2,854 December 31, 2016 Popular, Inc. Impaired Loans – With an Impaired Loans Allowance With No Allowance Impaired Loans - Total Unpaid Unpaid Unpaid Recorded principal Related Recorded principal Recorded principal Related (In thousands) investment balance allowance investment balance investment balance allowance Commercial multi-family $ 82 $ 82 $ 34 $ - $ - $ 82 $ 82 $ 34 Commercial real estate non-owner occupied 104,119 105,047 24,537 15,935 29,631 120,054 134,678 24,537 Commercial real estate owner occupied 131,634 169,013 13,007 31,962 50,094 163,596 219,107 13,007 Commercial and industrial 46,862 49,301 4,797 7,828 11,478 54,690 60,779 4,797 Mortgage 433,118 474,220 44,610 73,246 91,175 506,364 565,395 44,610 Leasing 1,817 1,817 535 - - 1,817 1,817 535 Consumer: Credit Cards 37,464 37,464 5,588 - - 37,464 37,464 5,588 HELOCs 2,421 2,429 667 300 315 2,721 2,744 667 Personal 66,082 66,082 16,960 79 79 66,161 66,161 16,960 Auto 2,117 2,117 474 - - 2,117 2,117 474 Other 991 991 168 - - 991 991 168 Total Popular, Inc. $ 826,707 $ 908,563 $ 111,377 $ 129,350 $ 182,772 $ 956,057 $ 1,091,335 $ 111,377 The following tables present the average recorded investment and interest income recognized on impaired loans for the quarter s and nine months ended September 30, 2017 and 2016 . For the quarter ended September 30, 2017 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 $ 141 $ 1 $ - $ - $ 141 $ 1 Commercial real estate non-owner occupied 117,650 1,272 - - 117,650 1,272 Commercial real estate owner occupied 151,580 1,413 - - 151,580 1,413 Commercial and industrial 61,950 531 - - 61,950 531 Mortgage 507,689 3,211 8,995 60 516,684 3,271 Leasing 1,568 - - - 1,568 - Consumer: Credit cards 35,727 - - - 35,727 - Helocs - - 2,572 - 2,572 - Personal 64,091 - 763 - 64,854 - Auto 2,065 - - - 2,065 - Other 991 - - - 991 - Total Popular, Inc. $ 943,452 $ 6,428 $ 12,330 $ 60 $ 955,782 $ 6,488 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 nine months ended September 30, 2017 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 $ 111 $ 4 $ - $ - $ 111 $ 4 Commercial real estate non-owner occupied 118,243 3,997 - - 118,243 3,997 Commercial real estate owner occupied 158,046 4,640 - - 158,046 4,640 Commercial and industrial 61,072 1,682 - - 61,072 1,682 Mortgage 503,628 11,394 8,947 156 512,575 11,550 Leasing 1,689 - - - 1,689 - Consumer: Credit cards 36,718 - - - 36,718 - HELOCs - - 2,632 - 2,632 - Personal 64,962 - 440 - 65,402 - Auto 2,079 - - - 2,079 - Other 891 - - - 891 - Total Popular, Inc. $ 947,439 $ 21,717 $ 12,019 $ 156 $ 959,458 $ 21,873 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 Modifications Troubled debt restructurings (“TDRs”) related to non-covered loan portfolios amounted to $ 1.3 billion at September 30, 2017 (December 31, 2016 - $ 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, 2017 (December 31, 2016 - $ 8 million). At September 30, 2017 , the mo rtgage loan TDRs include $ 444 million guaranteed by U.S. sponsored entities at BPPR, compared to $ 407 million at December 31, 2016 . A modification of a loan constitutes a troubled debt restructuring 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 s ignificant accounting policies included in Note 2 of the 2016 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, 2017 and December 31, 2016 . Popular, Inc. Non-Covered Loans September 30, 2017 December 31, 2016 (In thousands) Accruing Non-Accruing Total Related Allowance Accruing Non-Accruing Total Related Allowance Commercial $ 163,349 $ 66,492 $ 229,841 $ 37,471 $ 176,887 $ 83,157 $ 260,044 $ 40,810 Mortgage 793,478 131,424 924,902 51,421 744,926 127,071 871,997 44,610 Leases 963 370 1,333 450 1,383 434 1,817 535 Consumer 95,795 12,004 107,799 22,457 100,277 12,442 112,719 23,857 Total $ 1,053,585 $ 210,290 $ 1,263,875 $ 111,799 $ 1,023,473 $ 223,104 $ 1,246,577 $ 109,812 Popular, Inc. Covered Loans September 30, 2017 December 31, 2016 (In thousands) Accruing Non-Accruing Total Related Allowance Accruing Non-Accruing Total Related Allowance Mortgage $ 3,320 $ 2,617 $ 5,937 $ - $ 2,950 $ 2,580 $ 5,530 $ - Total $ 3,320 $ 2,617 $ 5,937 $ - $ 2,950 $ 2,580 $ 5,530 $ - 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, 2017 and 2016 . Loans modified as TDRs for the U.S. operations are considered insignificant to the Corporation. Popular, Inc. For the quarter ended September 30, 2017 For the nine months ended September 30, 2017 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 - - - - 4 1 - - Commercial real estate owner occupied - 3 - - 3 12 - - Commercial and industrial 1 15 - - 3 36 - - Mortgage 13 14 83 16 45 35 301 116 Leasing - - 1 - - 1 6 - Consumer: Credit cards 140 - 4 114 425 - 5 424 HELOCs - - 2 - - 1 3 - Personal 187 2 1 2 699 6 1 3 Auto - 1 2 - - 5 4 1 Other 11 - - - 27 1 - 1 Total 352 35 93 132 1,206 98 320 545 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 The following tables present by c lass, quantitative information r e lated to loans modified as TDR s during the quarter s and nine months ended September 30, 2017 and 2016 . Popular, Inc. For the quarter ended September 30, 2017 (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 owner occupied 3 $ 272 $ 269 $ 29 Commercial and industrial 16 1,022 1,044 111 Mortgage 126 17,692 16,633 1,103 Leasing 1 27 27 8 Consumer: Credit cards 258 2,881 3,114 375 HELOCs 2 203 203 23 Personal 192 2,945 2,944 673 Auto 3 42 42 8 Other 11 46 46 6 Total 612 $ 25,130 $ 24,322 $ 2,336 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 a |
FDIC loss share asset and true
FDIC loss share asset and true up payment obligation | 9 Months Ended |
Sep. 30, 2017 | |
Disclosure Text Block | |
FDIC loss share asset and true-up payment obligation | Note 10 – 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 applica ble 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 periods p resented. Quarters ended September 30, Nine months ended September 30, (In thousands) 2017 2016 2017 2016 Balance at beginning of period $ 53,070 $ 218,122 $ 69,334 $ 310,221 Accretion (amortization) 567 (1,259) (62) (9,337) Credit impairment losses (reversal) to be covered under loss-sharing agreements (329) 659 1,945 (959) Reimbursable expenses 588 853 2,232 7,038 Net payments from FDIC under loss-sharing agreements (4,502) (10,897) (18,505) (99,485) Arbitration award expense - (54,924) - (54,924) Other adjustments attributable to FDIC loss-sharing agreements - (87) (5,550) (87) Balance at end of period $ 49,394 $ 152,467 $ 49,394 $ 152,467 Balance due to the FDIC for recoveries on covered assets [1] (924) (7,080) (924) (7,080) Balance at end of period $ 48,470 $ 145,387 $ 48,470 $ 145,387 [1] Balance due to the FDIC for recoveries on covered assets for the quarter and nine months ended September 30, 2016 amounting to $ 7.1 million was included in other l iabilities in the accompanying Consolidated Statement of C ondition (December 31, 2016 - $27.6 million) . The loss-share component of the arrangements applicable to commercial (including construction) and consumer loans expired during the quarter ended June 30, 2015. The agreement provides for reimbursement of recoveries 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. 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, 2017 is 7.1 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, 2017 and December 31 , 2016 . (In thousands) September 30, 2017 December 31, 2016 Carrying amount (fair value) $ 166,876 $ 153,158 Undiscounted amount $ 188,660 $ 188,258 The increase in the fair value of the true-up payment obligation was principally driven by a decreas e in the discount rate from 5.97 % in 201 6 to 4.47 % in 201 7 due to a lower risk premium. The estimated fair value of the true-up payment obligation corresponds to the difference between the initial estimated losses to be reimbursed by the FDIC and the revised estimate of reimbursable losses. As the amount of estimated reimbursable losses decreases, the value of the true-up payment obligation increases. 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 t rue - up payment obligation is expected to change in future periods and may be subject to the interpretation of provision s 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 ass ets in a manner consistent with its usual and prudent business and banking practices and, with respect to single family shared-loss loans, the procedures (including collection procedures) customarily employed by BPPR in servicing and administering 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 institution s; exercise its best judgment in managing, administering and collecting amounts on covered assets and effecting charge-offs with respect to the covered assets; use commercially reasonable efforts to maximize recoveries with respect to losses on single fami ly 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 simil ar systems with respect to the commercial shared-loss assets; comply with the terms of the modification guidelines approved by the FDIC or another federal agency for any single-family shared - loss loan; provide notice with respect to proposed 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, 2017 | |
Disclosure Text Block | |
Mortgage Banking Activities | Note 11 – 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) 2017 2016 2017 2016 Mortgage servicing fees, net of fair value adjustments: Mortgage servicing fees $ 12,012 $ 14,520 $ 38,485 $ 43,997 Mortgage servicing rights fair value adjustments (10,262) (6,062) (24,262) (18,879) Total mortgage servicing fees, net of fair value adjustments 1,750 8,458 14,223 25,118 Net gain on sale of loans, including valuation on loans held-for-sale 4,244 8,857 16,875 24,441 Trading account loss: Unrealized (losses) gains on outstanding derivative positions (147) 95 (104) (44) Realized losses on closed derivative positions (608) (2,138) (3,645) (7,465) Total trading account loss (755) (2,043) (3,749) (7,509) Total mortgage banking activities $ 5,239 $ 15,272 $ 27,349 $ 42,050 |
Transfers of financial assets a
Transfers of financial assets and mortgage servicing assets | 9 Months Ended |
Sep. 30, 2017 | |
Transfers and Servicing of Financial Assets | |
Transfers Of Financial Assets And Mortgage Servicing Assets | Note 12 – 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 21 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, 2017 and 2016 because they did not contain any credit recourse arrangements. During the quarter ended September 30, 2017 , the Corporation recorded a net gain of $ 3.9 million ( September 30, 2016 - $ 8.4 million) related to th e residential mortgage loans securitized. During the nine months ended September 30, 2017 , t he Corporation recorded a net gain of $ 15.0 million ( September 30, 2016 - $ 22.6 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, 2017 and 2016 : Proceeds Obtained During the Quarter Ended September 30, 2017 (In thousands) Level 1 Level 2 Level 3 Initial Fair Value Assets Investments securities available for sale: Mortgage-backed securities - FNMA $ - $ 4,329 $ - $ 4,329 Total investment securities available-for-sale $ - $ 4,329 $ - $ 4,329 Trading account securities: Mortgage-backed securities - GNMA $ - $ 85,722 $ - $ 85,722 Mortgage-backed securities - FNMA - 16,452 - 16,452 Total trading account securities $ - $ 102,174 $ - $ 102,174 Mortgage servicing rights $ - $ - $ 1,588 $ 1,588 Total $ - $ 106,503 $ 1,588 $ 108,091 Proceeds Obtained During the Nine Months Ended September 30, 2017 (In thousands) Level 1 Level 2 Level 3 Initial Fair Value Assets Investments securities available for sale: Mortgage-backed securities - FNMA $ - $ 16,049 $ - $ 16,049 Total investment securities available-for-sale $ - $ 16,049 $ - $ 16,049 Trading account securities: Mortgage-backed securities - GNMA $ - $ 368,660 $ - $ 368,660 Mortgage-backed securities - FNMA - 69,798 - 69,798 Total trading account securities $ - $ 438,458 $ - $ 438,458 Mortgage servicing rights $ - $ - $ 6,766 $ 6,766 Total $ - $ 454,507 $ 6,766 $ 461,273 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 During the nine months ended September 30, 2017 , the Corporation retained servicing rights on whole loan sales involving approximately $ 49 million in principal balance outstanding ( September 30, 2016 - $ 46 million) , with realized gains of approximately $ 1.8 million ( September 30, 2016 - gains of $ 1.9 million ). All loan sales performed during the nine months ended September 30, 2017 and 2016 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, 2017 and 2016 . Residential MSRs (In thousands) September 30, 2017 September 30, 2016 Fair value at beginning of period $ 196,889 $ 211,405 Additions 7,530 7,843 Changes due to payments on loans [1] (12,794) (13,381) Reduction due to loan repurchases (1,605) (1,183) Changes in fair value due to changes in valuation model inputs or assumptions (9,863) (4,315) Other disposals - (15) Fair value at end of period $ 180,157 $ 200,354 [1] Represents the change due to collection / realization of expected cash flow over time. Residential mortgage loans serviced for others were $ 17.1 billion at September 30, 2017 (December 31, 2016 - $ 18.0 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. These servicing fees are recognized as income when they are collected. At September 30, 2017 , those weighted average mortgage servicing fees were 0.29 % ( September 30, 2016 – 0.29 %). Under these servicing agreement s, 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, originated and purchased. Key economic as sumptions used in measuring the servicing rights derived from loans securitized or sold by the Corporation during the quarters and nine months ended September 30, 2017 and 2016 were as follows: Quarters ended Nine months ended September 30, 2017 September 30, 2016 September 30, 2017 September 30, 2016 Prepayment speed 4.9 % 4.6 % 4.3 % 5.2 % Weighted average life 10.5 years 10.6 years 10.9 years 10.1 years Discount rate (annual rate) 10.9 % 11.0 % 10.9 % 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 September 30, December 31, September 30, December 31, (In thousands) 2017 2016 2017 2016 Fair value of servicing rights $ 77,786 $ 88,056 $ 102,371 $ 108,833 Weighted average life (in years) 7.2 7.8 6.4 6.9 Weighted average prepayment speed (annual rate) 5.4 % 4.6 % 6.0 % 4.8 % Impact on fair value of 10% adverse change $ (1,931) $ (1,668) $ (2,637) $ (2,051) Impact on fair value of 20% adverse change $ (3,796) $ (3,590) $ (5,172) $ (4,400) Weighted average discount rate (annual rate) 11.5 % 11.5 % 11.0 % 11.0 % Impact on fair value of 10% adverse change $ (3,626) $ (3,851) $ (4,484) $ (4,369) Impact on fair value of 20% adverse change $ (6,982) $ (7,699) $ (8,640) $ (8,778) 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, 2017 , the Corporation serviced $ 1.5 billion (December 31 , 2016 - $ 1.7 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, 2017 , t he Corporation had recorded $ 92 million in mortgage loans on its Consolidated Statements of F inancial Condition related to this buy-back option program (December 31 , 2016 - $ 49 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, 2017 , the Corporation repurchased approximately $ 113 million ( September 30, 2016 - $ 67 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, 2017 | |
Other Real Estate | |
Other Real Estate Owned | Note 13 – 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, 2017 and 2016 . For the quarter ended September 30, 2017 Non-covered Non-covered Covered OREO OREO OREO (In thousands) Commercial/ Construction Mortgage Mortgage Total Balance at beginning of period $ 23,949 $ 157,147 $ 25,350 $ 206,446 Write-downs in value (1) (2,702) (2,856) (234) (5,792) Additions 982 18,669 1,560 21,211 Sales (743) (18,185) (4,395) (23,323) Other adjustments - 467 (736) (269) Ending balance $ 21,486 $ 155,242 $ 21,545 $ 198,273 (1) Includes $2.7 million related to the damages from Hurricane Maria, of which $1.3 million were for commercial and $1.4 million for residential. For the nine months ended September 30, 2017 Non-covered Non-covered Covered OREO OREO OREO (In thousands) Commercial/ Construction Mortgage Mortgage Total Balance at beginning of period $ 20,401 $ 160,044 $ 32,128 $ 212,573 Write-downs in value (1) (4,681) (14,715) (2,980) (22,376) Additions 8,604 69,585 9,775 87,964 Sales (2,707) (61,068) (15,184) (78,959) Other adjustments (131) 1,396 (2,194) (929) Ending balance $ 21,486 $ 155,242 $ 21,545 $ 198,273 (1) Includes $2.7 million related to the damages from Hurricane Maria, of which $1.3 million were for commercial and $1.4 million for residential. 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 |
Other assets
Other assets | 9 Months Ended |
Sep. 30, 2017 | |
Other Assets Abstract | |
Other assets | Note 14 − Other assets The caption of other assets in the consolidated statements of financial condition consists of the following major categories: (In thousands) September 30, 2017 December 31, 2016 Net deferred tax assets (net of valuation allowance) $ 1,207,597 $ 1,243,668 Investments under the equity method 210,067 218,062 Prepaid taxes 164,531 172,550 Other prepaid expenses 87,136 90,320 Derivative assets 14,234 14,085 Trades receivable from brokers and counterparties 999 46,630 Receivables from investments maturities 270,000 - Principal, interest and escrow servicing advances 71,167 69,711 Guaranteed mortgage loan claims receivable 174,964 152,403 Others 129,232 138,081 Total other assets $ 2,329,927 $ 2,145,510 |
Goodwill and other intangible a
Goodwill and other intangible assets | 9 Months Ended |
Sep. 30, 2017 | |
Goodwill and Intangible Assets Disclosure | |
Goodwill And Other Intangible Assets | Note 15 – Goodwill and other intangible assets Goodwill There were no changes in the carrying amount of goodwill for the quarter and nine months ended September 30, 2017 . The changes in the carrying amount of goodwill for the nine months ended September 30, 2016 , allocated by reportable segments, were as follows (refer to Note 34 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 On February 27, 2015, BPPR, in alliance with other co-bidders, including BPNA, acquired certain assets and all deposits (other than certain brokered deposits) of former Doral Bank, from the Federal Deposit Insurance Corporation (“FDIC”) as receiver (the “ Doral Bank Transaction”). During the quarter ended June 30, 2016, the Corporation recorded purchase accounting adjustments of $4.7 million, resulting in a total goodwill of $167.8 million recognized related to the Doral Bank Transaction. Other Intangible Assets At September 30, 2017 and December 31, 2016 , the Corporation had $ 6.1 million of identifiable intangible assets, with indefinite useful lives, mostly associated with the E-LOAN 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, 2017 Core deposits $ 37,224 $ 21,416 $ 15,808 Other customer relationships 36,449 20,404 16,045 Total other intangible assets $ 73,673 $ 41,820 $ 31,853 December 31, 2016 Core deposits $ 37,274 $ 18,624 $ 18,650 Other customer relationships 36,449 16,162 20,287 Total other intangible assets $ 73,723 $ 34,786 $ 38,937 During the quarter ended September 30, 2017 , the Corporation recognized $ 2.3 million in amortization expense related to other intangible assets with definite useful lives ( September 30, 2016 - $ 3.1 million). During the nine months ended September 30, 2017 , the Corporation recognized $ 7.0 million in amortization related to other intangible assets with definite useful lives ( September 30, 2016 - $ 9.3 million). The following table presents the es timated amortization of the intangible assets with definite useful lives for each of the following periods: (In thousands) Remaining 2017 $ 2,344 Year 2018 9,286 Year 2019 9,042 Year 2020 4,967 Year 2021 2,157 Year 2022 1,281 Later years 2,776 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 2017 using July 31, 2017 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 11.58 % t o 14.49 % for the 201 7 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. BPPR passed Step 1 in the annual test as of July 31, 201 7 . The results indi cated that the average estimated fair value calculated in Step 1 using all valuation methodologies exceeded BPPR’s equity value by approximately $ 871 million or 26 %. Accordingly, there was no indication of impairment on the goodwill record ed in BPPR at July 31, 201 7 and there was no need for a Step 2 analysis. As indicated in Note 2 , during the month of September Hurricanes Irma and Maria made landfall and subsequently caused extensive destruction in the U.S. and British Virgin Islands and Puerto Rico, disrupting the market s in which BPPR does business. The hurricanes have and may continue to impact the Corporation’s financial results, as detailed in Note 2 , which may have an effect on BPPR’s estimated fair value. However, given the excess of BPPR’s fair value over its carrying amount, the Corporation has determined, based on the information currently available, that there is no indication of impairment of goodwill . The Corporation will continue monitoring the impact of the hurricanes as new information becomes availabl e. BPNA passed Step 1 in the annual test as of July 31, 2017. The results indicated that the average estimated fair value calculated in Step 1 using all valuation methodologies exceeded BPNA’s equity value by approximately $ 183 million or 11 % . Accordingly, there was no indication of impairment on the goodwill recorded in BPNA at July 31, 2017 and there was no need for a Step 2 analysis. 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, 201 7 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, 201 7 annual assessment were reasonable. The goodwill impairment evaluation process requires the Corporation to make estimates and assumptions with regar d 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 r eporting 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 the se events or changes in circumstances would more likely than not reduce the fair value of a reporting unit below its carrying amount. The following tables present the gross amount of goodwill and accumulated impairment losses by reportable segments. September 30, 2017 Balance at Balance at Balance at Balance at January 1, Accumulated January 1, September 30, Accumulated September 30, 2017 impairment 2017 2017 impairment 2017 (In thousands) (gross amounts) losses (net amounts) (gross amounts) losses (net amounts) Banco Popular de Puerto Rico $ 280,221 $ 3,801 $ 276,420 $ 280,221 $ 3,801 $ 276,420 Banco Popular North America 515,285 164,411 350,874 515,285 164,411 350,874 Total Popular, Inc. $ 795,506 $ 168,212 $ 627,294 $ 795,506 $ 168,212 $ 627,294 December 31, 2016 Balance at Balance at Balance at Balance at January 1, Accumulated January 1, December 31, Accumulated December 31, 2016 impairment 2016 2016 impairment 2016 (In thousands) (gross amounts) losses (net amounts) (gross amounts) losses (net amounts) Banco Popular de Puerto Rico $ 280,221 $ - $ 280,221 $ 280,221 $ 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 |
Deposits
Deposits | 9 Months Ended |
Sep. 30, 2017 | |
Disclosure Text Block | |
Deposits | Note 16 – Deposits Total interest bearing deposits as of the end of the periods presented consisted of: (In thousands) September 30, 2017 December 31, 2016 Savings accounts $ 8,348,091 $ 7,793,533 NOW, money market and other interest bearing demand deposits 10,838,465 8,012,706 Total savings, NOW, money market and other interest bearing demand deposits 19,186,556 15,806,239 Certificates of deposit: Under $100,000 3,549,599 3,570,956 $100,000 and over 4,062,924 4,138,586 Total certificates of deposit 7,612,523 7,709,542 Total interest bearing deposits $ 26,799,079 $ 23,515,781 A summary of certificates of deposit by maturity at September 30, 2017 follows: (In thousands) 2017 $ 1,784,658 2018 2,421,822 2019 1,047,982 2020 1,079,172 2021 727,779 2022 and thereafter 551,110 Total certificates of deposit $ 7,612,523 At September 30, 2017 , the Corporation had brokered deposits amounting to $ 0.6 billion (December 31, 2016 - $ 0.6 billion ). The aggregate amount of overdrafts in demand deposit accounts that were reclassified to loans was $ 16 million at September 30, 2017 (December 31, 2016 - $ 6 million ) . |
Borrowings
Borrowings | 9 Months Ended |
Sep. 30, 2017 | |
Disclosure Text Block | |
Borrowings | Note 17 – Borrowings The following table presents the composition of a ssets sold under agreements to repurchase at September 30, 2017 and December 31, 2016 . (In thousands) September 30, 2017 December 31, 2016 Assets sold under agreements to repurchase $ 374,405 $ 479,425 Total assets sold under agreements to repurchase $ 374,405 $ 479,425 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, 2017 December 31, 2016 Repurchase Repurchase (In thousands) liability liability U.S. Treasury Securities Within 30 days $ 69,030 $ 32,700 After 30 to 90 days 53,781 - After 90 days 142,306 19,819 Total U.S. Treasury Securities 265,117 52,519 Obligations of U.S. government sponsored entities Within 30 days - 95,720 After 30 to 90 days 30,835 142,299 After 90 days 35,400 25,380 Total obligations of U.S. government sponsored entities 66,235 263,399 Mortgage-backed securities Within 30 days - 39,108 After 30 to 90 days - 58,552 After 90 days 31,383 54,560 Total mortgage-backed securities 31,383 152,220 Collateralized mortgage obligations Within 30 days 11,670 11,287 Total collateralized mortgage obligations 11,670 11,287 Total $ 374,405 $ 479,425 R epurchase agreements in portfolio are generally short-term, often overnight . 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 information related to the Corporation’s other short-term borrowings for the periods ended September 30, 2017 and December 31, 2016 . (In thousands) September 30, 2017 December 31, 2016 Advances with the FHLB paying interest at maturity with fixed rates ranging from 1.32% to 1.44% $ 239,398 $ - Others 1,200 1,200 Total other short-term borrowings $ 240,598 $ 1,200 Note: Refer to the Corporation's 2016 Form 10-K for rates information at December 31, 2016. The following table presents the composition of notes payable at September 30, 2017 and December 31, 2016 . (In thousands) September 30, 2017 December 31, 2016 Advances with the FHLB with maturities ranging from 2017 through 2029 paying interest at monthly fixed rates ranging from 0.81% to 4.19 % $ 569,889 $ 608,193 Advances with the FHLB with maturities ranging from 2018 through 2019 paying interest monthly at a floating rate ranging from 0.22% to 0.34% over the 1 month LIBOR 34,164 34,164 Advances with the FHLB with maturities ranging from 2018 through 2019 paying interest quarterly at a floating rate from 0.09% to 0.24% over the 3 month LIBOR 25,019 30,313 Unsecured senior debt securities maturing on 2019 paying interest semiannually at a fixed rate of 7.00%, net of debt issuance costs of $3,648 (2016 - $5,212) 446,351 444,788 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 $456 (2016 - $476) 439,344 439,323 Others 17,294 18,071 Total notes payable $ 1,532,061 $ 1,574,852 Note: Refer to the Corporation’s 2016 Form 10-K for rates information at December 31, 2016 . A breakdown of borrowings by contractual maturities at September 30, 2017 is included in the table below. Assets sold under Short-term (In thousands) agreements to repurchase borrowings Notes payable Total Year 2017 $ 165,315 $ 205,598 $ 32,536 $ 403,449 2018 209,090 35,000 220,086 464,176 2019 - - 608,530 608,530 2020 - - 112,088 112,088 2021 - - 21,694 21,694 Later years - - 537,127 537,127 Total borrowings $ 374,405 $ 240,598 $ 1,532,061 $ 2,147,064 At September 30, 2017 and December 31, 2016 , the Corporation had FHLB borrowing facilities whereby the Corporation could borrow up to $ 3.9 billion and $ 3.8 billion , respectively, of which $ 868 million and $ 673 million, respectively, were used. In addition, at September 30, 2017 and December 31, 2016 , the Corporation had placed $ 200 million of the available FHLB credit facility as collateral for a municipal letter of credit to secure deposits. The FHL B borrowing facilities are collateralized with loans held-in-portfolio, and do not have restrictive covenants or callable features. Also, at September 30, 2017 , the Corporation has a borrowing facility at the discount window of the Federal Reserve Bank of New York amounting to $ 1.2 billion ( 2016 - $ 1.2 billion), which remained unused at September 30, 2017 and December 31, 2016 . The facility is a collateralized source of credit that is highly reliable even under difficult market conditions. |
Offsetting of financial assets
Offsetting of financial assets and liabilities | 9 Months Ended |
Sep. 30, 2017 | |
Disclosure Text Block | |
Offsetting Of Financial Assets And Liabilities | Note 18 – Offsetting of financial assets and liabilities The following tables present the potential effect of rights of setoff associated with the Corporation’s recognized financial assets and liabilities at September 30, 2017 and December 31, 2016 . As of September 30, 2017 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 $ 14,234 $ - $ 14,234 $ 33 $ - $ - $ 14,201 Total $ 14,234 $ - $ 14,234 $ 33 $ - $ - $ 14,201 As of September 30, 2017 Gross Amounts Not Offset in the Statement of Financial Position (In thousands) Gross Amount of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Position Net Amounts of Liabilities Presented in the Statement of Financial Position Financial Instruments Securities Collateral Pledged Cash Collateral Pledged Net Amount Derivatives $ 12,841 $ - $ 12,841 $ 33 $ 16 $ - $ 12,792 Repurchase agreements 374,405 - 374,405 - 374,405 - - Total $ 387,246 $ - $ 387,246 $ 33 $ 374,421 $ - $ 12,792 As of December 31, 2016 Gross Amounts Not Offset in the Statement of Financial Position (In thousands) Gross Amount of Recognized Assets Gross Amounts Offset in the Statement of Financial Position Net Amounts of Assets Presented in the Statement of Financial Position Financial Instruments Securities Collateral Received Cash Collateral Received Net Amount Derivatives $ 14,094 $ - $ 14,094 $ 551 $ - $ - $ 13,543 Reverse repurchase agreements 23,637 - 23,637 - 23,637 - - Total $ 37,731 $ - $ 37,731 $ 551 $ 23,637 $ - $ 13,543 As of December 31, 2016 Gross Amounts Not Offset in the Statement of Financial Position (In thousands) Gross Amount of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Position Net Amounts of Liabilities Presented in the Statement of Financial Position Financial Instruments Securities Collateral Pledged Cash Collateral Received Net Amount Derivatives $ 12,842 $ - $ 12,842 $ 551 $ 747 $ - $ 11,544 Repurchase agreements 479,425 - 479,425 - 479,425 - - Total $ 492,267 $ - $ 492,267 $ 551 $ 480,172 $ - $ 11,544 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, 2017 | |
Stockholders' Equity Note | |
Stockholders' Equity | Note 19 – Stockholders ’ equity On January 23, 2017, the Corporation’s Board of Directors approved an increase in the Company’s quarterly common stock dividend from $0.15 per share to $0.25 per share. During the nine months ended September 30, 2017 , the Corporation declared dividends on its common stock of $ 76.6 million. The quarterly dividend declared to shareholders of record as of the close of business on September 14, 2017, which amounted to $25.5 million, was paid on October 2 , 2017. Also, during the first quarter of 2017, the Co rporation completed a $75 million privately negotiated accelerated share repurchase transaction (“ASR”). As part of this transaction, the Corporation received 1,847,372 shares and recognized $79.5 million in treasury stock, based on the stock’s spot price, offset by a $4.5 million adjustment to capital surplus, resulting from the decline in the Corporation’s stock price during the term of the ASR. BPPR statutory reserve The Banking Act of the Commonwealth of Puerto Rico requires that a minimum of 10% of BPPR’s net income for the year be transferred to a statutory reserve account until such statutory reserve equals the total of paid-in capital on common and preferred stock. Any losses incurred by a bank must first be charged to retained earnings and then to the reserve fund. Amounts 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 p reclude BPPR from paying dividends. BPPR’s statutory reserve fund amounted to $ 513 million at September 30, 2017 (December 31, 2016 - $ 513 m illion). There were no transfers between the statutory reserve account and the retained earnings account during the quarters and nine months ended September 30, 2017 and September 30, 2016 . |
Other comprehensive income (los
Other comprehensive income (loss) | 9 Months Ended |
Sep. 30, 2017 | |
Disclosure Text Block | |
Other Comprehensive Income (Loss) | Note 20 – Other comprehensive loss The following table presents changes in accumulated other comprehensive loss by component for the quarters and nine months ended September 30, 2017 and 2016 . Changes in Accumulated Other Comprehensive Loss by Component [1] Quarters ended Nine months ended September 30, September 30, (In thousands) 2017 2016 2017 2016 Foreign currency translation Beginning Balance $ (41,405) $ (38,070) $ (39,956) $ (35,930) Other comprehensive loss (390) (325) (1,839) (2,465) Net change (390) (325) (1,839) (2,465) Ending balance $ (41,795) $ (38,395) $ (41,795) $ (38,395) Adjustment of pension and postretirement benefit plans Beginning Balance $ (205,928) $ (205,743) $ (211,610) $ (211,276) Amounts reclassified from accumulated other comprehensive loss for amortization of net losses 3,421 3,348 10,263 10,041 Amounts reclassified from accumulated other comprehensive loss for amortization of prior service credit (580) (580) (1,740) (1,740) Net change 2,841 2,768 8,523 8,301 Ending balance $ (203,087) $ (202,975) $ (203,087) $ (202,975) Unrealized holding gains (losses) on investments Beginning Balance $ (55,742) $ 98,761 $ (68,318) $ (9,560) Other comprehensive income (loss) before reclassifications 9,350 (14,131) 15,331 94,023 Other-than-temporary impairment amount reclassified from accumulated other comprehensive (loss) income - - 6,740 167 Amounts reclassified from accumulated other comprehensive (loss) income for gains on securities (82) (316) (227) (316) Net change 9,268 (14,447) 21,844 93,874 Ending balance $ (46,474) $ 84,314 $ (46,474) $ 84,314 Unrealized net losses on cash flow hedges Beginning Balance $ 132 $ (560) $ (402) $ (120) Other comprehensive loss before reclassifications (250) (685) (869) (2,843) Amounts reclassified from accumulated other comprehensive income (loss) 142 1,006 1,295 2,724 Net change (108) 321 426 (119) Ending balance $ 24 $ (239) $ 24 $ (239) Total $ (291,332) $ (157,295) $ (291,332) $ (157,295) [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, 2017 and 2016 . 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 2017 2016 2017 2016 Adjustment of pension and postretirement benefit plans Amortization of net losses Personnel costs $ (5,606) $ (5,488) $ (16,819) $ (16,461) Amortization of prior service credit Personnel costs 950 950 2,850 2,850 Total before tax (4,656) (4,538) (13,969) (13,611) Income tax benefit 1,815 1,770 5,446 5,310 Total net of tax $ (2,841) $ (2,768) $ (8,523) $ (8,301) Unrealized holding gains (losses) on investments Other-than-temporary impairment Other-than-temporary impairment losses on available-for-sale debt securities $ - $ - $ (8,299) $ (209) Realized gains on sale of securities Net gain on sale of investment securities 103 349 284 349 Total before tax 103 349 (8,015) 140 Income tax (expense) benefit (21) (33) 1,502 9 Total net of tax $ 82 $ 316 $ (6,513) $ 149 Unrealized net losses on cash flow hedges Forward contracts Mortgage banking activities $ (232) $ (1,650) $ (2,122) $ (4,466) Total before tax (232) (1,650) (2,122) (4,466) Income tax benefit 90 644 827 1,742 Total net of tax $ (142) $ (1,006) $ (1,295) $ (2,724) Total reclassification adjustments, net of tax $ (2,901) $ (3,458) $ (16,331) $ (10,876) |
Guarantees
Guarantees | 9 Months Ended |
Sep. 30, 2017 | |
Guarantees | |
Guarantees | Note 21 – Guarantees At September 30, 2017 , the Corporation recorded a liability of $ 0.3 million (December 31 , 2016 - $ 0.3 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, 2017 , the Corporation serviced $ 1.5 billion ( December 31, 2016 - $ 1.7 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, 2017 , the Corporation repurchased approximately $ 7 million and $ 22 million , respectively, of unpaid principal balance in mortgage loans subje ct to the credit recourse provisions ( September 30, 2016 - $ 11 million and $ 34 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 underlying a defaulted mortgage loan are less than the outstanding principal balance of the loan plus any uncollected interest advanced and the costs of holding and disposing the related property. At September 30, 2017 , the Corporation’s liability established to co ver the estimated credit loss exposure related to loans sold or serviced with credit recourse amounted to $ 52 million (December 31, 2016 - $ 54 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 s ended September 30, 2017 and 2016 . Quarters ended September 30, Nine months ended September 30, (In thousands) 2017 2016 2017 2016 Balance as of beginning of period $ 49,395 $ 56,931 $ 54,489 $ 58,663 Provision for recourse liability 6,375 4,086 11,104 11,613 Net charge-offs (3,718) (4,737) (13,541) (13,996) Balance as of end of period $ 52,052 $ 56,280 $ 52,052 $ 56,280 When the Corporation sells or securitizes mortgage loans, it generally makes customary representations and warranties regarding the characteristics of the loans sold. To the extent the loans do not meet 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 ended September 30, 2017 and 2016, BPPR did not repurchase loans under representation and warranty arrangements. A substantial amou nt of these loans reinstate to performing status or have mortgage insurance, and thus the ultimate losses on the loans are not deemed significant. From time to time, the Corporation sells loans and agrees to indemnify the purchaser for credit losses or any breach of certain representations and warranties made in connection with the sale. T he following table presents the changes in the Corporation’s liability for estimated losses associated with indemnifications and representations and warranties related to loans sold by BPPR for the quarters and nine months ended September 30, 2017 and 2016 . Quarters ended September 30, Nine months ended September 30, (In thousands) 2017 2016 2017 2016 Balance as of beginning of period $ 10,545 $ 10,702 $ 10,936 $ 8,087 Provision (reversal) for representation and warranties (140) (34) (521) 2,767 Net charge-offs - (27) (10) (213) Balance as of end of period $ 10,405 $ 10,641 $ 10,405 $ 10,641 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, 2017 , t he Corporation serviced $ 17.1 billion in mortgage loans for third-parties , including the loans serviced with credit recourse (December 31 , 2016 - $ 18.0 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, 2017 , the outstanding balance of funds advanced by the Corporation under such mortgage loan servicing agreements was approximately $ 71 million, including advances on the portfolio acquired from Doral Bank ( December 3 1 , 2016 - $ 70 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, 2017 and December 31, 2016 . In addition, at September 30, 2017 and December 31 , 2016 , PIHC fully and unconditionally guaranteed on a subordinated basis $ 427 m illion of capital securities (trust preferred securities) issued by wholly-owned issuing trust e ntities to the extent set forth in the applicable guarantee agreement. Refer to Note 23 to the Consolidated Financial Statements in the 2016 Form 10-K for further information on the trust preferred securities. |
Commitments and contingencies
Commitments and contingencies | 9 Months Ended |
Sep. 30, 2017 | |
Commitments and Contingencies Disclosure | |
Commitments And Contingencies | Note 22 – 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 c ondition. 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 is represented by the contractual notiona l 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-balan ce 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, 2017 December 31, 2016 Commitments to extend credit: Credit card lines $ 4,311,987 $ 4,562,981 Commercial and construction lines of credit 2,723,002 2,966,656 Other consumer unused credit commitments 250,565 261,856 Commercial letters of credit 2,288 1,490 Standby letters of credit 31,287 34,644 Commitments to originate or fund mortgage loans 9,706 25,622 At September 30, 2017 and December 31, 2016 , the Corporation maintained a reserve of approximately $ 9 million for potential losses associated with unfunded loan commitments related to commercia l and consumer lines of credit . Business concentration Since the Corporation’s business activities are 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 geographical area is presented in N ote 34 to the Consolidated Financial Statements. Puerto Rico is in the midst of a profound fiscal and economic crisis, was recently significantly impacted by two major hurricanes and has commenced several proceedings under the Puerto Rico Oversight, Management and Economic Stability Act (“PROMESA”) to restructure its outstanding obligations and those of certain of its instrumentalities. In September 2017, Puerto Rico was impacted by Hurricanes Irma and Maria. Most relevant, Hurricane Maria made land fall on September 20, 2017, causing severe wind and flood damage to infrastructure, homes and businesses throughout Puerto Rico. Following the passage of Hurricane Maria, all Puerto Rico was left without electrical power, other basic utility and infrastru cture services were severely curtailed and the government imposed a mandatory curfew. As of the date of this report, most businesses and homes in Puerto Rico remain without power, other basic utility and infrastructure remains significantly impacted, and many businesses are operating partially or remain closed. While it is too early to assess and quantify the full extent of the damage caused by the hurricanes, as well as their long-term impact on economic activity, the damages are substantial and have, at least in the short-term, had a material adverse impact on economic activity. For a discussion of the impact of the hurricanes on the Corporation’s operations and financial results during the third quarter of 2017, refer to Note 2 - Hurricanes impact. Th e U.S. Congress enacted PROMESA on June 30, 2016 in response to the Commonwealth’s ongoing fiscal and economic crisis. PROMESA, among other things, (i) established a seven-member oversight board (the “Oversight Board”) with broad powers over the finances o f the Commonwealth and its instrumentalities, (ii) established an automatic stay on litigation, which expired on May 1, 2017, that applied to all financial obligations of the Commonwealth, its instrumentalities and municipalities (including to all municipa l obligations owned by the Corporation), (iii) required the Commonwealth (and any instrumentality thereof designated as a “covered entity” under PROMESA) to submit its budgets, and if the Oversight Board so requests, a fiscal plan for certification by the Oversight Board, and (iv) established two separate processes for the restructuring of the outstanding liabilities of the Commonwealth, its instrumentalities and municipalities: (a) Title VI, a largely out-of-court process through which a government entity and its financial creditors can agree on terms to restructure such entity’s debts, and (b) Title III, a court-supervised process for a comprehensive restructuring similar to Chapter 9 of the U.S. Bankruptcy Code. The Oversight Board has designated a number of entities as “covered entities” under PROMESA, including the Commonwealth, all of its public corporations (including COFINA ) and retirement systems, and all affiliates and subsidiaries of the foregoing. While t he 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 Oversight Board has further approved fiscal plans for certain of these “covered entities ,” including the Commonwealth, the Government Development Bank for Puerto Rico (“GDB”) and several other public corporations. The Commonwealth’s fiscal plan covers various public instrumentalities with outstanding debts payable from taxes, fees or other g overnment revenues, including COFINA. The fiscal plans were prepared and approved prior to the impact of Hurricanes Irma and Maria and are thus based on pre-hurricane assumptions of government revenues, economic activity and outmigration. The approved fis cal plans indicate based on such assumptions that the applicable government entities are unable to pay their outstanding obligations as currently scheduled, thus recognizing a need for a significant debt restructuring. On October 31, 2017, the Oversight B oard requested revised fiscal plans for the Commonwealth and various public corporations to take into account the impact of Hurricanes Irma and Maria. The Oversight Board expects that the revised fiscal plans would be certified by January or February 2018 . On May 3, 2017, the Oversight Board, on behalf of the Commonwealth, filed a petition in the U.S. District Court for the District of Puerto Rico to restructure the Commonwealth’s liabilities under Title III of PROMESA. The Oversight Board has subsequentl y filed analogous petitions with respect to COFINA, the Employees Retirement System, the Puerto Rico Highways and Transportation Authority and the Puerto Rico Electric Power Authority. The Oversight Board has also authorized GDB to pursue a restructuring o f its financial indebtedness under Title VI of PROMESA. Although as of the date hereof, these entities are the only entities for which the Oversight Board has sought to use the restructuring authority provided by PROMESA, the Oversight Board may use the re structuring authority of Title III or Title VI of PROMESA for other Commonwealth instrumentalities, including its municipalities, in the future. At September 30, 2017 , the Corporation’s direct exposur e to the Puerto Rico government and its instrumentalities and municipalities amounted to $ 484 m illion, of which approximately $ 482 million is outstanding ($ 584 m illion and $ 529 million , respectively, at December 31, 2016 ). Of the amount outstanding, $ 433 million consists of loans and $ 49 million are securities ($ 459 million and $ 70 million at December 31, 2016 ). All of amount outstanding ($ 512 million of the total amount outstanding at December 31, 2016 ) 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. Such general obligation bonds and notes are payable primarily from, and have a lien on, certain special property taxes, which each municipality is required by law to levy in an amount sufficient for the payment of its outstanding general obligation bonds and notes. Those special property taxes are collected by the Municipal Revenue Collection Center (“CRIM”), or directly by some municipalities, and deposited into the Municipal Public Debt Redemption Fund (a trust for which GDB acts as trustee and which is currently held in various accounts and subac counts at BPPR (except for the portion corresponding to repayment of municipal general obligation bonds held by GDB, which was deposited at GDB until April 2016)). Funds in the Redemption Fund are required to be used for the payment of the municipality’s g eneral obligation bonds and notes. To the extent that a municipality’s funds in the Redemption Fund are insufficient to pay the obligations in full, CRIM is required to transfer to such Redemption Fund other property tax revenues of the applicable municipa lity to satisfy the insufficiency. During the third quarter of 2017, the Corporation sold all of its COFINA bonds at a gain of approximately $0.1 million. The Corporation had recorded an other-than-temporary impairment charge of $8.3 million in respect of those bonds during the second quarter of 2017 as a result of the filing of the Title III proceeding in respect of COFINA and the non-payment of interest on the COFINA bonds in June 2017, pursuant to a court order issued in such proceeding. 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 $ 5 $ - $ 5 $ 5 After 5 to 10 years 12 - 12 12 After 10 years 30 - 30 30 Total Central Government 47 - 47 47 Government Development Bank (GDB) After 1 to 5 years 3 - 3 3 Total Government Development Bank (GDB) 3 - 3 3 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 3,295 11,341 14,636 16,478 After 1 to 5 years 15,485 192,904 208,389 208,389 After 5 to 10 years 29,240 106,368 135,608 135,608 After 10 years 1,025 122,038 123,063 123,063 Total Municipalities 49,045 432,651 481,696 483,538 Total Direct Government Exposure $ 49,099 $ 432,651 $ 481,750 $ 483,592 In addition, at September 30, 2017 , the Corporation had $ 391 million in indirect exposure to loans or securities issued or guaranteed by Puerto Rico governmental entities but whose principal source of repayment are non-governmental entities . In such obligations, the Puerto Rico government entity guarantees any shortfall in collateral in the event of borrower default ($ 406 million at December 31, 2016 ). These included $ 313 million in residential mortgage loans guaranteed by the Puerto Rico Housing Finance Authority (“HFA”), an entity that has been designated as a covered entity under PROMESA (December 31, 2016 - $ 326 million). These mortgage loans are secured by the underlyi ng properties and the HFA guarantee serve to cover shortfalls in collateral in the event of a borrower default. Although the Governor i s currently authorized by local legislation to impose a temporary moratorium on the financial obligations of the HFA, he has not exercised this power as of the date hereof. Also, the Corporation had $43 million in Puerto Rico housing bonds issued by HFA, which are secured by second mortgage loans on Puerto Ri co residential properties, $6 million in pass-through securities that have been economically defeased and refunded and for which collateral including U.S. agencies and Treasury obligations has been escrowed, and $ 29 million of commercial real estate notes issued by government entities, but payable from rent paid by third parties ($43 million, $6 million and $ 31 million at December 31, 2016 , respectively ) . BPPR’s commercial loan portfolio also includes loans to private borrowers who are service providers, lessors, suppliers or have other relationships with the government. These borrowers could be negatively affected by the fiscal measures to be implemented to address the Commonwealth’s fiscal crisis and the ongoing Title III proceedings under PROMESA described above. Similarly, BPPR’s mortgage and consumer loan portfolios include loans to government employees which could also be n egatively affected by fiscal measures such as employee layoffs or furloughs. The Corporation has operations in the United States Virgin Islands (the “USVI”) and has approximately $82 million in direct exposure to USVI government entities. The USVI has b een experiencing a number of fiscal and economic challenges that could adversely affect the ability of its public corporations and instrumentalities to service their outstanding debt obligations . In addition, in September 2017, the USVI was also severely impacted by Hurricanes Irma and Maria, which will pose additional challenges to the USVI government and could further materially adversely affect the USVI economy . Other contingencies As indicated in Note 10 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 $ 167 million at September 30, 2017 (December 31, 2016 - $ 153 million). For add itional information refer to Note 10 . 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 (“Legal Proceedings”). When the C orporation 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 both the Corporation and its shareholders to do so. On at least a quarterly basis, Popular assesses its liabilities and contingencies relating to outstanding Legal Proceedings utilizing the latest information available. For matters wh ere it is probable 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 re flect any relevant 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 re asonably possible, 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 $27.8 million as of September 30, 2017 . 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 Legal Procee dings (including the fact that many of them are currently in preliminary stages), the existence of multiple defendants in several of the current Legal Proceedings whose share of liability has yet to be determined, the numerous unresolved issues in many of the Legal Proceedings, and the inherent uncertainty of the various potential outcomes of such Legal 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 o utcome of Legal Proceedings is inherently uncertain, based on information currently available, advice of counsel, and available insurance coverage, management believes that the amount it has already accrued is adequate and any incremental liability arising from the Corporation’s Legal Proceedings in matters in which a loss amount can be reasonably estimated will not have a material adverse effect on the Corporation’s consolidated financial position. However, in the event of unexpected future developments, i t 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 is a description of the Corporation’s significant legal proceedings. BANCO POPULAR DE PUERTO RICO Hazard Insurance Commission-Related Litigation Popular, Inc., BPPR and Popular Insurance, LLC (the “Popular Defendants”) have been named defendants in a putative class action complaint captioned Perez Díaz v. P opular, Inc., et al, filed before the Court of First Instance, Arecibo Part. The complaint seeks damages and preliminary and permanent injunctive relief on behalf of the purported class against the Popular Defendants, as well as Antilles Insurance Company and MAPFRE-PRAICO Insurance Company (the “Defendant Insurance Companies”). Plaintiffs essentially allege that the Popular Defendants have been unjustly enriched by failing to reimburse them for commissions paid by the Defendant Insurance Companies to the i nsurance agent and/or mortgagee for policy years when no claims were filed against their hazard insurance policies. They demand the reimbursement to the purported “class” of an estimated $400 million plus legal interest, for the “good experience” commissi ons allegedly paid by the Defendant Insurance Companies during the relevant time period, as well as injunctive relief seeking to enjoin the Defendant Insurance Companies from paying commissions to the insurance agent/mortgagee and ordering them to pay thos e fees directly to the insured. A hearing on the request for preliminary injunction and other matters was held on February 15, 2017, as a result of which plaintiffs withdrew their request for preliminary injunctive relief. A motion for dismissal on the m erits, which the Defendant Insurance Companies filed shortly before hearing, was denied with a right to replead following limited targeted discovery. On March 24, 2017, the Popular Defendants filed a certiorari petition with the Puerto Rico Court of Appea ls seeking a review of the lower court’s denial of the motion to dismiss. The Court of Appeals denied the Popular Defendant’s request, and the Popular Defendants appealed this determination to the Puerto Rico Supreme Court, which declined review. A motion for reconsideration is pending resolution. Separately, a class certification hearing was held in June and the Court requested post-hearing briefs on this issue. On October 26, 2017, the Court entered an order whereby it broadly certified the class. At a hearing held on November 2, 2017, the Court encouraged the parties to reach agreement on discovery and class notification procedures. The Court further allowed defendants until January 4, 2018 to answer the complaint. A follow-up hearing was set for March 6, 2018. BPPR is currently evaluating its next steps, which may include filing an interlocutory appeal of the class certification order. BPPR has separately been named a defendant in a putative class action complaint captioned Ramirez Torres, et al. v. Banco Popular de Puerto Rico, et al, filed before the Puerto Rico Court of First Instance, San Juan Part . The complaint seeks damages and preliminary and permanent injunctive relief on behalf of the purported class against the same Popular Defendants, as well other financial institutions with insurance brokerage subsidiaries in Puerto Rico. Plaintiffs essentially contend that in November 2015, Antilles Insurance Company obtained approval from the Puerto Rico Insurance Commissioner to market an endorsement that allowed its customers to obtain reimbursement on their insurance deductible for good experience, but that defendants failed to offer this product or disclose its existence to their customers, favoring other products instead, in violation of their duti es as insurance brokers. Plaintiffs seek a determination that defendants unlawfully failed to comply with their duty to disclose the existence of this new insurance product, as well as double or treble damages (the latter subject to a determination that de fendants engaged in anti-monopolistic practices in failing to offer this product). Between late March and early April, co-defendants filed motions to dismiss the complaint and opposed the request for preliminary injunctive relief. A co-defendant filed a third-party Complaint against Antilles Insurance Company. A preliminary injunction and class certification hearing originally scheduled for April 6th was subsequently postponed, pending resolution of the motions to dismiss. On July 31, 2017, the Court dis missed the complaint with prejudice. In August 2017, plaintiffs appealed this judgment. A third putative class action also tangentially related to hazard insurance policies and captioned Morales v. Banco Popular de Puerto Rico, et al. , was filed in May 2 017. Plaintiffs aver that BPPR forced-placed hazard insurance on their mortgaged properties in violation of Puerto Rico’s implied covenant of good faith, BPPR’s alleged fiduciary duties as the escrow account manager of their mortgage loans, the Truth in Le nding Act (TILA) and the Racketeer Influenced and Corrupt Organizations Act (RICO). Plaintiffs seek class certification, an order enjoining BPPR and other unnamed defendants from maintaining their allegedly fraudulent practices concerning forced-placed ha zard insurance, unspecified compensatory damages, costs and attorneys’ fees. On July 19, 2017, BPPR filed a motion for summary judgment, which is pending resolution. Mortgage-Related Litigation and Claims BPPR has been named a defendant in a putative class action captioned Lilliam González Camacho, et al. v. Banco Popular de Puerto Rico, et al. , filed before the United States District Court for the District of Puerto Rico on behalf of mortgage-holders who have allegedly been subjected to illegal forecl osures and/or loan modifications through their mortgage servicers. Plaintiffs essentially contend that when they sought to reduce their loan payments, defendants failed to provide them with reduced loan payments, instead subjecting them to lengthy loss mit igation processes while filing foreclosure claims against them in parallel. Plaintiffs assert that such actions violate HAMP, HARP and other loan modification programs, as well as the Puerto Rico Mortgage Debtor Assistance Act and TILA. For the alleged vi olations stated above, Plaintiffs request that all Defendants (over 20 separate defendants have been named, including all local banks), jointly and severally, respond in an amount of no less than $400 million. BPPR waived service of process in June and fil ed a motion to dismiss in August which is pending resolution. BPPR has also been named a defendant in two separate putative class actions captioned Costa Dorada Apartment Corp., et al. v. Banco Popular de Puerto Rico, et al ., and Yiries Josef Saad Maura v . Banco Popular, et al ., filed by the same counsel who filed the González Camacho action referenced above, on behalf of commercial and residential customers of the defendant banks who have allegedly been subject to illegal foreclosures and/or loan modifica tions through their mortgage servicers. Plaintiffs essentially contend that when they sought to reduce their loan payments, defendants failed to provide them with reduced loan payments, instead subjecting them to lengthy loss mitigation processes while fil ing foreclosure claims against them in parallel (dual tracking), all in violation of TILA, the Real Estate Settlement Procedures Act (“RESPA”), the Equal Credit Opportunity Act (“ECOA”), the Fair Credit Reporting Act (“FCRA”), the Fair Debt Collection Prac tices Act (“FDCPA”) and other consumer-protection laws and regulations. They demand approximately $1 billion (in Costa Dorada ) and unspecified damages (in Saad Maura ). Banco Popular has not yet been served with summons in relation to either matter. BPPR has been named a defendant in a complaint for damages and breach of contract captioned Héctor Robles Rodriguez et al. v. Municipio de Ceiba, et al . Plaintiffs are residents of a development called Hacienda Las Lomas. Through the Doral Bank-FDIC assisted t ransaction, BPPR acquired a significant number of mortgage loans within in this development and is currently the primary creditor in the project. Plaintiffs claim damages against the developer, contractor, the relevant insurance companies, and most recentl y, their mortgage lenders, as a result of a landslide that occurred in October 2015, affecting various streets and houses within the development. Plaintiffs specifically allege that the mortgage lenders, including BPPR, should be deemed liable for their al leged failure to properly inspect the subject properties. Plaintiffs demand in excess of $30 million in damages and the annulment of their mortgage deeds. BPPR has recently engaged in preliminary settlement discussions with plaintiffs. Mortgage-Related I nvestigations The Corporation and its subsidiaries from time to time receive requests for information from departments of the U.S. government that investigate mortgage-related conduct. In particular, 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, the Special Inspector General for the Troubled Asset Relief Program and the Federal Department of Housing and Urban Development’s Office of the Inspector General mainly concerning real estate appraisals and residential and construction loans in Puerto Rico. The Corporation is cooperating with these requests and is in discussions with the relevant U.S. government departments regarding the resolution of such matters. There can be no assurances as to the outcome of those discussions. Separately, it has come to the attention of management that certain letters generated by the Corporation to comply with Consumer Financial Protection Bureau (“CFPB”) rules requiring written notification to borrowers who have submitted a loss mitigation application were not mailed to borrowers over a period of up to approximately three-years due to a systems interface error. Loss mitigation is a process whereby creditors work with mortgage loan borrowers who are having difficulties making the ir loan payments on their debt. The loss mitigation process applies both to mortgage loans held by the Corporation and to mortgage loans serviced by the Corporation for third parties. The Corporation has corrected the systems interface error that caused the letters not to be sent. The Corporation has notified applicable regulators and is conducting a review of its mortgage files to assess the scope of potential customer impact. Based on currently available information, we believe that although the mail ing error extended to approximately 20,000 residential mortgage loans (approximately 50% of which are serviced by the Corporation for third parties), the number of borrowers actually affected by the mailing error was substantially lower due to, among other things, the fact that more than half of all borrowers potentially subject to such error closed on a permanent loss mitigation alternative and the fact that the Corporation regularly uses means other than the mail to communicate with borrowers, including h and delivery of written notices at our mortgage servicing centers or bank branches. The Corporation will begin outreach to potentially affected borrowers with outstanding loans that have not closed on a permanent loss mitigation alternative during the fo urth quarter of 2017 and expects that it will be able to make a final determination with respect to the action it will take regarding all potentially impacted borrowers by the first quarter of 2018. At this point, we are not able to estimate the financial impact of the failure to m ail the loss mitigation notices . Other Significant Proceedings In June 2017, a syndicate comprised of BPPR and other local banks (the “Lenders”) filed an involuntary Chapter 11 bankruptcy proceeding against Betteroads Asphalt and Betterecycling Corporation (the “Involuntary Debtors”). This filing followed attempts by the Lenders to restructure and resolve the Involuntary Debtors’ obligations and outstanding defaults under a certain credit agreement, first through good faith neg otiations and subsequently, through the filing of a collection action against the Involuntary Debtors in local court. The involuntary debtors subsequently counterclaimed, asserting damages in excess of $900 million. The Lenders ultimately joined in the com mencement of these involuntary bankruptcy proceedings against the Debtors in order to preserve and recover the Involuntary Debtors’ assets, having confirmed that the Involuntary Debtors were transferring assets out of their estate for little or no consider ation. The Involuntary Debtors subsequently filed a motion to dismiss the proceedings and for damages against the syndicate, arguing both that this petition was filed in bad faith and that there was a bona fide dispute as to the petitioners’ claims, as set forth in the counterclaim filed by the Involuntary Debtors in local court. The court allowed limited discovery to take place prior to an evidentiary hearing (still unscheduled and to be held after the discovery cut-off date) to determine the merits of deb tors’ motion to dismiss. A separate hearing will be heard in November to entertain creditors’ motion to appoint a trustee. POPULAR SECURITIES Puerto Rico Bonds and Closed-End Investment Funds The volatility in prices and declines in value that Puerto R ico municipal 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, i ncluding Popular Securities. Popular Securities has received customer complaints and is named as a respondent (among other broker-dealers) in 86 arbitration proceedings with aggregate claimed amounts of approximately $209 million, including one arbitratio n with claimed damages of approximately $78 million in which another Puerto Rico broker-dealer is a co-defendant . While Popular Securities believes it has meritorious defenses to the claims asserted in these proceedings, it has often determined that it is in its best interest to settle such claims rather than expend the money and resources required to see such cases to completion. The Government’s defaults and non-payment of its various debt obligations, the Commonwealth government’s and the Financial Over sight Management Board’s decision to pursue restructurings under Title III and Title VI of PROMESA have increased and may continue to increase the number of customer complaints (and claimed damages) filed against Popular Securities concerning Puerto Rico b onds, including bonds issued by COFINA and GDB, and closed-end investment companies that invest primarily in Puerto Rico bonds. An adverse result in the matters described above or a significant increase in customer complaints could have a material adverse effect on Popular. Subpoenas for Production of Documents in connection with PROMESA Title III Proceedings Popular Securities has, together with Popular, Inc. and BPPR (collectively, the “Popular Companies”) recently filed an appearance in connection with the Commonwealth of Puerto Rico’s pending Title III bankruptcy proceeding. Its appearance was prompted by a request by the Commonwealth’s Unsecured Creditors’ Committee (“UCC”) to allow a broad discovery program under Rule 2004 to investigate, among other things, the causes of the Puerto Rico financial crisis. The Rule 2004 request seeks broad discovery not only from the Popular Companies, but a |
Non-consolidated variable inter
Non-consolidated variable interest entities | 9 Months Ended |
Sep. 30, 2017 | |
Disclosure Text Block | |
Non-consolidated Variable Interest Entities | Note 23 – Non-consolidated variable interest entities The Corporation is involved with four statutory trusts which it created 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 C onsolidated S tatements of F inancial C ondition 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 25 to the C onsolidated F inancial S tatements for additional information on the debt securities outstanding at September 30, 2017 and December 31, 2016 , 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, 2017 and December 31, 2016 . (In thousands) September 30, 2017 December 31, 2016 Assets Servicing assets: Mortgage servicing rights $ 152,072 $ 158,562 Total servicing assets $ 152,072 $ 158,562 Other assets: Servicing advances $ 22,955 $ 20,787 Total other assets $ 22,955 $ 20,787 Total assets $ 175,027 $ 179,349 Maximum exposure to loss $ 175,027 $ 179,349 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 $ 11.9 billion at September 30, 2017 (December 31, 2016 - $ 12.3 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, 2017 and December 31, 2016 , 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. These joint ventures 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 ventures 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 asset s in an amount equal to the acquisition loan of $ 86 million and $ 182 million, respectively. The acquisition loans have 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 ventures with a non-revolving advance facility (the “advance facility”) of $ 69 million and $ 35 million, respectively, to cover unfunded commitments and costs-to-complete related to certain construction projects, and a revolving work ing 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 these transactions, BPPR received $ 48 million and $ 92 million, re spectively, in cash and a 24.9 % equity interest in each joint venture. The Corporation is not required to provide any other financial support to these joint ventures. BPPR accounted for both transactions 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 VIEs but it is not the primary beneficiary. All decisions are made by Caribbean Property Group (“CPG”) (or an affiliate thereof) (the “Manager ”), except for certain limited material decisions which would require the unanimous consent of all members. The Manager is authorized to execute and deliver on behalf of the joint ventures any and all documents, contracts, certificates, agreements and inst ruments, and to take any action deemed necessary in the benefit of the joint ventures. The Corporation holds variable interests in these VIEs in the form of the 24.9 % equity interests and the financing provided to these joint ventures. The equity inte rest is accounted for under the equity method of accounting pursuant to ASC Subtopic 323-10. The following tables present the carrying amount and classification of the assets and liabilities related to the Corporation’s variable interests in the non-conso lidated VIEs, PRLP 2011 Holdings, LLC and PR Asset Portfolio 2013-1 International, LLC, and their maximum exposure to loss at September 30, 2017 and December 31, 2016 . PRLP 2011 Holdings, LLC PR Asset Portfolio 2013-1 International, LLC (In thousands) September 30, 2017 December 31, 2016 September 30, 2017 December 31, 2016 Assets Loans held-in-portfolio: Advances under the working capital line $ - $ - $ - $ 1,391 Advances under the advance facility - - - 2,475 Total loans held-in-portfolio $ - $ - $ - $ 3,866 Accrued interest receivable $ - $ - $ - $ 19 Other assets: Equity investment $ 7,362 $ 9,167 $ 14,167 $ 22,378 Total assets $ 7,362 $ 9,167 $ 14,167 $ 26,263 Liabilities Deposits $ (480) $ (1,127) $ (16,900) $ (9,692) Total liabilities $ (480) $ (1,127) $ (16,900) $ (9,692) Total net assets $ 6,882 $ 8,040 $ (2,733) $ 16,571 Maximum exposure to loss $ 6,882 $ 8,040 $ - $ 16,571 The Corporation determined that the maximum exposure to loss under a worst case scenario at September 30, 2017 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, 2017 . |
Related party transactions
Related party transactions | 9 Months Ended |
Sep. 30, 2017 | |
Related Party Transactions | |
Related Party Transactions | Note 24 – Related party transactions The Corporation considers its equity method investees as related parties. The following provides information on transactions with equity method investees considered related parties. 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, 2017 , the Corporation’s stake in EVERTEC was 16.10%. 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. The Corporation received $ 3.5 million in dividend distributions during the nine months ended September 30, 2017 from its investments in EVERTEC’s holding company ( September 30, 2016 - $ 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 S tatement s of Financial C onditio n. (In thousands) September 30, 2017 December 31, 2016 Equity investment in EVERTEC $ 45,810 $ 38,904 The Corporation had the following financial condition balances outstanding with EVERTEC at September 30, 2017 and December 31, 2016 . Items that represent liabilities to the Corporation are presented with parenthesis. (In thousands) September 30, 2017 December 31, 2016 Accounts receivable (Other assets) $ 5,221 $ 6,394 Deposits (20,712) (14,899) Accounts payable (Other liabilities) (4,070) (20,372) Net total $ (19,561) $ (28,877) 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, 2017 and 2016 . Quarter ended Nine months ended (In thousands) September 30, 2017 September 30, 2017 Share of income from the investment in EVERTEC $ 1,200 $ 8,143 Share of other changes in EVERTEC's stockholders' equity 366 2,034 Share of EVERTEC's changes in equity recognized in income $ 1,566 $ 10,177 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 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, 2017 and 2016 . Items that represent expenses to the Corporation are presented with parenthesis . Quarter ended Nine months ended (In thousands) September 30, 2017 September 30, 2017 Category Interest expense on deposits $ (12) $ (33) Interest expense ATH and credit cards interchange income from services to EVERTEC 7,061 22,656 Other service fees Rental income charged to EVERTEC 1,737 5,119 Net occupancy Processing fees on services provided by EVERTEC (43,855) (132,289) Professional fees Other services provided to EVERTEC 291 900 Other operating expenses Total $ (34,778) $ (103,647) 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) PRLP 2011 Holdings LLC As indicated in Note 23 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 S tatement s of F inancial C ondition . (In thousands) September 30, 2017 December 31, 2016 Equity investment in PRLP 2011 Holdings, LLC $ 7,362 $ 9,167 The Corporation had the following financial condition balances outstanding with PRLP 2011 Holdings, LLC at September 30, 2017 and December 31, 2016 . (In thousands) September 30, 2017 December 31, 2016 Deposits (non-interest bearing) $ (480) $ (1,127) 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 O perations. The following table presents the Corporation’s proportionate share of loss from PRLP 2011 Holdings, LLC for the quarters and nine months ended September 30, 2017 and 2016 . Quarter ended Nine months ended (In thousands) September 30, 2017 September 30, 2017 Share of income (loss) from the equity investment in PRLP 2011 Holdings, LLC $ 101 $ (808) 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) During the nine months ended September 30, 2017 , the Corporation received $ 1.0 million in capital distributions from its investment in PRLP 2011 Holdings, LLC ( September 30, 2016 - $ 3.4 million ) . 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 quarter and nine months ended September 30, 2016 . 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 PR Asset Portfolio 2013-1 International, LLC As indicated in Note 23 to the Consolidated Financial S tatements, 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 S tatement s of F inancial C ondition . (In thousands) September 30, 2017 December 31, 2016 Equity investment in PR Asset Portfolio 2013-1 International, LLC $ 14,167 $ 22,378 The Corporation had the following financial condition balances outstanding with PR Asset Portfolio 2013-1 International, LLC, at September 30, 2017 a nd December 31, 2016 . (In thousands) September 30, 2017 December 31, 2016 Loans $ - $ 3,866 Accrued interest receivable - 19 Deposits (16,900) (9,692) Net total $ (16,900) $ (5,807) 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, 2017 and 2016 . Quarter ended Nine months ended (In thousands) September 30, 2017 September 30, 2017 Share of loss from the equity investment in PR Asset Portfolio 2013-1 International, LLC $ (1,299) $ (1,150) 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) During the nine months ended September 30, 2017 , the Corporation received $ 7.1 million in capital distribution from its investment in PR Asset Portfolio 2013-1 International, LLC. No capital distribution was received by the Corporation during the nine months ended September 30, 2016 . 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, 2017 and 2016 . Quarter ended Nine months ended (In thousands) September 30, 2017 September 30, 2017 Category Interest income on loan to PR Asset Portfolio 2013-1 International, LLC $ - $ 9 Interest income Interest expense on deposits (8) (23) Interest expense Total $ (8) $ (14) 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 Centro Financiero BHD León At September 30, 2017 , the Corporation had a 15.84 % stake in Centro Financiero BHD Leon, S.A. (“BHD Leon”), one of the largest banking and financial services groups in the Dominican Republic. During the nine months ended September 30, 2017 , the Corporation recorded $ 17.3 million in earnings from its investment in BHD Leon ( 2016 - $ 18.5 million), which had a carrying amount of $ 129.1 million at September 30, 2017 (December 31, 2016 - $ 125.5 million). As of December 31, 2016 BPPR ha d extended a credit facility of $ 50 million to BHD León, with an outstanding balance of $ 25 million . This credit facility expired during March 2017. The Corporation received $ 11.8 million in dividend distributions during the nine months ended September 30, 2017 from its investment in BHD Leon ( September 30, 2016 - $ 12.1 million). On June 30, 2017, BPPR extended an $8 million credit facility to Grupo Financiero Leon, S.A. Panamá (“GFL”), a shareholder of BHD Leon. The sources of repayment for this loan are the dividends to be received by GFL from its investment in BHD Leon. BPPR’s credit facility ranks pari passu with another $8 million credit facility extended t o GFL by BHD International Panama, an affiliate of BHD Leon. Puerto Rico Investment Companies The Corporation provides advisory services to several Puerto Rico investment companies in exchange for a fee. The Corporation also provides administrative, custody and transfer agency services to these investment companies. These fees are calculated at an annual rate of the average net assets of the investment company, as defined in each agreement. Due to its advisory role, the Corporation considers these inv estment companies as related parties. For the nine m onths ended September 30, 2017 administrative fees charged to these investment companies amounted to $ 5.8 million (2016- $ 6.0 million) and waived fees amounted to $ 1.7 million (2016 - $ 2.1 million), for a net fee of $ 4.1 million (2016 - $ 3.9 million). The Corporation, through its subsidiary Banco Popular de Puerto Rico, has also entered into lines of credit facilities with these compani es. As of September 30, 2017 , the available lines of credit facilities amounted to $357 million (December 31 2016 - $357 million). The aggregate sum of all outstanding balances under all credit facilities that may be made available by BPPR, from time to time, to those Puerto Rico investment companies for which BPPR acts as investment advisor or co-investment advisor, shall never exceed the lesser of $200 million or 10% of BPPR’s capital . O ther Related Party Transactions In April 2010, in connection with t he acquisition of the Westernbank assets from the FDIC, as receiver, BPPR acquired a term loan to a corporate borrower partially owned by an investment corporation in which the Corporation’s Executive Chairman , at that time the Chief Executive Officer, as well as certain of his family members, hold an ownership interest. At the time the loan was acquired by BPPR, it had an unpaid principal balance of $40.2 million. In May 2017, this loan was sold by BPPR to Popular, Inc., holding company (“ PIHC ”). A t the time of sale, the loan had an unpaid principal balance of $37.9 million. PIHC paid $37.9 million to BPPR for the loan , of which $6.0 million was recognized by BPPR as a capital contribution representing the difference between the fair value and t he book value of the loan at the time of transfer . Immediately upon being acquired by BHC, the loan’s maturity was extended by 90 days (under the same terms as originally contracted) to provide the BHC additional time to evaluate a refinancing or long-term extension of the loan. In August 2017, the credit facility was refinanced with a stated maturity in February 2019. As of September 30, 2017, the unpaid principal balance amounted to $37.7 million. O ther Related Party Transactions In April 2010, in connection with t he acquisition of the Westernbank assets from the FDIC, as receiver, BPPR acquired a term loan to a corporate borrower partially owned by an investment corporation in which the Corporation’s Executive Chairman , at that time the Chief Executive Officer, as well as certain of his family members, hold an ownership interest. At the time the loan was acquired by BPPR, it had an unpaid principal balance of $40.2 million. In May 2017, this loan was sold by BPPR to Popular, Inc., holding company (“ PIHC ”). A t the time of sale, the loan had an unpaid principal balance of $37.9 million. PIHC paid $37.9 million to BPPR for the loan , of which $6.0 million was recognized by BPPR as a capital contribution representing the difference between the fair value and t he book value of the loan at the time of transfer . Immediately upon being acquired by BHC, the loan’s maturity was extended by 90 days (under the same terms as originally contracted) to provide the BHC additional time to evaluate a refinancing or long-term extension of the loan. In August 2017, the credit facility was refinanced with a stated maturity in February 2019. As of September 30, 2017, the unpaid principal balance amounted to $37.7 million. |
Fair value measurement
Fair value measurement | 9 Months Ended |
Sep. 30, 2017 | |
Fair Value Disclosures | |
Fair Value Measurement | Note 25 – 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 2016 Form 10-K. The estimated fair value may be subjective in nature and may involve uncertainties and matters of significant judgment for certain financial instrumen ts. Changes in the underlying assumptions used in calculating fair value could significantly affect the results. Fair Value on a Recurring and Nonrecurring Basis The following fair value hierarchy tables present information about the Corporation’s assets and liabilities measured at fair value on a recurring basis at September 30, 2017 and December 31, 2016 At September 30, 2017 (In thousands) Level 1 Level 2 Level 3 Total RECURRING FAIR VALUE MEASUREMENTS Assets Investment securities available-for-sale: U.S. Treasury securities $ - $ 2,764,863 $ - $ 2,764,863 Obligations of U.S. Government sponsored entities - 611,646 - 611,646 Obligations of Puerto Rico, States and political subdivisions - 6,615 - 6,615 Collateralized mortgage obligations - federal agencies - 1,015,597 - 1,015,597 Mortgage-backed securities - 4,658,238 1,288 4,659,526 Equity securities - 1,885 - 1,885 Other - 869 - 869 Total investment securities available-for-sale $ - $ 9,059,713 $ 1,288 $ 9,061,001 Trading account securities, excluding derivatives: Obligations of Puerto Rico, States and political subdivisions $ - $ 172 $ - $ 172 Collateralized mortgage obligations - 276 572 848 Mortgage-backed securities - federal agencies - 32,709 43 32,752 Other - 11,630 549 12,179 Total trading account securities, excluding derivatives $ - $ 44,787 $ 1,164 $ 45,951 Mortgage servicing rights $ - $ - $ 180,157 $ 180,157 Derivatives - 14,234 - 14,234 Total assets measured at fair value on a recurring basis $ - $ 9,118,734 $ 182,609 $ 9,301,343 Liabilities Derivatives $ - $ (12,841) $ - $ (12,841) Contingent consideration - - (166,876) (166,876) Total liabilities measured at fair value on a recurring basis $ - $ (12,841) $ (166,876) $ (179,717) At December 31, 2016 (In thousands) Level 1 Level 2 Level 3 Total RECURRING FAIR VALUE MEASUREMENTS Assets Investment securities available-for-sale: U.S. Treasury securities $ - $ 2,136,620 $ - $ 2,136,620 Obligations of U.S. Government sponsored entities - 711,850 - 711,850 Obligations of Puerto Rico, States and political subdivisions - 22,771 - 22,771 Collateralized mortgage obligations - federal agencies - 1,221,526 - 1,221,526 Mortgage-backed securities - 4,103,940 1,392 4,105,332 Equity securities - 2,122 - 2,122 Other - 9,585 - 9,585 Total investment securities available-for-sale $ - $ 8,208,414 $ 1,392 $ 8,209,806 Trading account securities, excluding derivatives: Obligations of Puerto Rico, States and political subdivisions $ - $ 1,164 $ - $ 1,164 Collateralized mortgage obligations - - 1,321 1,321 Mortgage-backed securities - federal agencies - 37,991 4,755 42,746 Other - 13,963 602 14,565 Total trading account securities, excluding derivatives $ - $ 53,118 $ 6,678 $ 59,796 Mortgage servicing rights $ - $ - $ 196,889 $ 196,889 Derivatives - 14,094 - 14,094 Total assets measured at fair value on a recurring basis $ - $ 8,275,626 $ 204,959 $ 8,480,585 Liabilities Derivatives $ - $ (12,842) $ - $ (12,842) Contingent consideration - - (153,158) (153,158) Total liabilities measured at fair value on a recurring basis $ - $ (12,842) $ (153,158) $ (166,000) The fair value information included in the following tables is not as of period end, but as of the date that the fair value measurement was recorded during the quarters and nine months ended September 30, 2017 and 2016 and excludes nonrecurring fair value measurements of assets no longer outstanding as of the reporting date. Nine months ended September 30, 2017 (In thousands) Level 1 Level 2 Level 3 Total NONRECURRING FAIR VALUE MEASUREMENTS Assets Write-downs Loans [1] $ - $ - $ 66,221 $ 66,221 $ (16,282) Other real estate owned [2] [3] - - 89,825 89,825 (17,405) Other foreclosed assets [2] - - 2,223 2,223 (475) Total assets measured at fair value on a nonrecurring basis $ - $ - $ 158,269 $ 158,269 $ (34,162) 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] Write-downs include $2.7 million related to estimated damages caused by Hurricanes Irma and Maria based on the sample of properties examined. 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 down to their fair value. Costs to sel l 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, 2017 and 2016 . Quarter ended September 30, 2017 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, 2017 $ 1,289 $ 858 $ 4,334 $ 557 $ 188,728 $ 195,766 $ (163,668) $ (163,668) Gains (losses) included in earnings - 5 (77) (8) (10,262) (10,342) (3,208) (3,208) Gains (losses) included in OCI (1) - - - - (1) - - Additions - 31 - - 1,691 1,722 - - Settlements - (46) (326) - - (372) - - Transfers out of Level 3 - (276) (3,888) - - (4,164) - - Balance at September 30, 2017 $ 1,288 $ 572 $ 43 $ 549 $ 180,157 $ 182,609 $ (166,876) $ (166,876) Changes in unrealized gains (losses) included in earnings relating to assets still held at September 30, 2017 $ - $ 1 $ - $ 1 $ (6,241) $ (6,239) $ (3,208) $ (3,208) Nine months ended September 30, 2017 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, 2017 $ 1,392 $ 1,321 $ 4,755 $ 602 $ 196,889 $ 204,959 $ (153,158) $ (153,158) Gains (losses) included in earnings - - (124) (53) (24,262) (24,439) (13,718) (13,718) Gains (losses) included in OCI 9 - - - - 9 - - Additions - 39 332 - 7,530 7,901 - - Sales - (365) (156) - - (521) - - Settlements (25) (147) (876) - - (1,048) - - Transfers out of Level 3 (88) (276) (3,888) - - (4,252) - - Balance at September 30, 2017 $ 1,288 $ 572 $ 43 $ 549 $ 180,157 $ 182,609 $ (166,876) $ (166,876) Changes in unrealized gains (losses) included in earnings relating to assets still held at September 30, 2017 $ - $ (5) $ (23) $ 22 $ (9,863) $ (9,869) $ (13,718) $ (13,718) 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) During the quarter and nine months ended September 30, 2017 , certain MBS and CMO’s amounting to $4.2 million and $4.3 million, respectively, were transferred from Level 3 to Level 2 due to a change in valuation technique from an internally-prepared pricing matrix and discounted cash flow model, respectively, to a bond’s theoretical value. 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 rec urring basis during the quarter and nine months ended September 30, 2016 . Gains and losses (realized and unrealized) included in earnings for the quarter s and nine months ended September 30, 2017 and 2016 for Level 3 ass ets and liabilities included in the previous tables are reported in the consolidated statement of operations as follows: Quarter ended September 30, 2017 Nine months ended September 30, 2017 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 FDIC loss share expense $ (3,208) $ (3,208) $ (13,718) $ (13,718) Mortgage banking activities (10,262) (6,241) (24,262) (9,863) Trading account profit (loss) (80) 2 (177) (6) Total $ (13,550) $ (9,447) $ (38,157) $ (23,587) 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 (6,611) (6,611) (14,742) (14,742) Mortgage banking activities (6,062) (1,082) (18,879) (4,315) Trading account profit (loss) (39) (11) 18 107 Total $ (12,712) $ (7,704) $ (33,605) $ (18,950) 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) 2017 Valuation technique Unobservable inputs Weighted average (range) CMO's - trading $ 572 Discounted cash flow model Weighted average life 2.1 years (1.6 - 2.2 years) Yield 3.9% (3.7% - 4.2%) Prepayment speed 21.2% (20.2% - 22.9%) Other - trading $ 549 Discounted cash flow model Weighted average life 5.3 years Yield 12.5 % Prepayment speed 10.8 % Mortgage servicing rights $ 180,157 Discounted cash flow model Prepayment speed 5.8% (0.3% - 18.0%) Weighted average life 6.7 years (0.1 - 15.6 years) Discount rate 11.2% (9.5% - 15.0%) Contingent consideration $ (166,876) Discounted cash flow model Credit loss rate on covered loans 3.9% (0.0% - 100.0%) Risk premium component of discount rate 2.9 % Loans held-in-portfolio $ 66,221 [1] External appraisal Haircut applied on external appraisals 25.0% (11.6% - 54.1%) Other real estate owned $ 83,870 [2] External appraisal Haircut applied on external appraisals 21.3% (20.0% - 30.0%) [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, 2017 | |
Fair Value Disclosures | |
Fair Value of Financial Instruments | Note 26 – 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 ot her 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 various assumptions and may v ary 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, 2017 and December 31, 2016 , as applicable. 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 generating businesses and antic ipated 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 as sets and liabilities not measured at fair value, but for which the fair value is disclosed from those disclosed in the 2016 Form 10-K. The following tables present the carrying amount and estimated fair values of financial instruments with their correspon ding 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, 2017 Carrying (In thousands) amount Level 1 Level 2 Level 3 Fair value Financial Assets: Cash and due from banks $ 517,437 $ 517,437 $ - $ - $ 517,437 Money market investments 5,488,212 5,479,268 8,944 - 5,488,212 Trading account securities, excluding derivatives [1] 45,951 - 44,787 1,164 45,951 Investment securities available-for-sale [1] 9,061,001 - 9,059,713 1,288 9,061,001 Investment securities held-to-maturity: Obligations of Puerto Rico, States and political subdivisions $ 92,369 $ - $ - $ 73,460 $ 73,460 Collateralized mortgage obligation-federal agency 69 - - 73 73 Other 1,000 - 742 237 979 Total investment securities held-to-maturity $ 93,438 $ - $ 742 $ 73,770 $ 74,512 Other investment securities: FHLB stock $ 64,208 $ - $ 64,208 $ - $ 64,208 FRB stock 94,644 - 94,644 - 94,644 Trust preferred securities 13,198 - 13,198 - 13,198 Other investments 1,915 - - 5,091 5,091 Total other investment securities $ 173,965 $ - $ 172,050 $ 5,091 $ 177,141 Loans held-for-sale $ 68,864 $ - $ - $ 70,499 $ 70,499 Loans not covered under loss sharing agreement with the FDIC 22,559,594 - - 20,896,277 20,896,277 Loans covered under loss sharing agreements with the FDIC 491,797 - - 483,155 483,155 FDIC loss share asset 48,470 - - 37,703 37,703 Mortgage servicing rights 180,157 - - 180,157 180,157 Derivatives 14,234 - 14,234 - 14,234 September 30, 2017 Carrying (In thousands) amount Level 1 Level 2 Level 3 Fair value Financial Liabilities: Deposits: Demand deposits $ 26,636,413 $ - $ 26,636,413 $ - $ 26,636,413 Time deposits 7,612,523 - 7,504,546 - 7,504,546 Total deposits $ 34,248,936 $ - $ 34,140,959 $ - $ 34,140,959 Assets sold under agreements to repurchase $ 374,405 $ - $ 374,377 $ - $ 374,377 Other short-term borrowings [2] $ 240,598 $ - $ 240,598 $ - $ 240,598 Notes payable: FHLB advances $ 629,072 $ - $ 629,538 $ - $ 629,538 Unsecured senior debt securities 446,351 - 470,043 - 470,043 Junior subordinated deferrable interest debentures (related to trust preferred securities) 439,344 - 411,776 - 411,776 Others 17,294 - - 17,294 17,294 Total notes payable $ 1,532,061 $ - $ 1,511,357 $ 17,294 $ 1,528,651 Derivatives $ 12,841 $ - $ 12,841 $ - $ 12,841 Contingent consideration $ 166,876 $ - $ - $ 166,876 $ 166,876 [1] Refer to Note 25 to the C onsolidated F inancial S tatements for the fair value by class of financial asset and its hierarchy level. [2] Refer to Note 17 to the Consolidated F inancial S tatements for the composition of other short-term borrowings. December 31, 2016 Carrying (In thousands) amount Level 1 Level 2 Level 3 Fair value Financial Assets: Cash and due from banks $ 362,394 $ 362,394 $ - $ - $ 362,394 Money market investments 2,890,217 2,854,777 35,440 - 2,890,217 Trading account securities, excluding derivatives [1] 59,796 - 53,118 6,678 59,796 Investment securities available-for-sale [1] 8,209,806 - 8,208,414 1,392 8,209,806 Investment securities held-to-maturity: Obligations of Puerto Rico, States and political subdivisions $ 96,027 $ - $ - $ 73,540 $ 73,540 Collateralized mortgage obligation-federal agency 74 - - 78 78 Other 2,000 - 1,738 220 1,958 Total investment securities held-to-maturity $ 98,101 $ - $ 1,738 $ 73,838 $ 75,576 Other investment securities: FHLB stock $ 58,033 $ - $ 58,033 $ - $ 58,033 FRB stock 94,672 - 94,672 - 94,672 Trust preferred securities 13,198 - 13,198 - 13,198 Other investments 1,915 - - 4,987 4,987 Total other investment securities $ 167,818 $ - $ 165,903 $ 4,987 $ 170,890 Loans held-for-sale $ 88,821 $ - $ 504 $ 89,509 $ 90,013 Loans not covered under loss sharing agreement with the FDIC 22,263,446 - - 20,578,904 20,578,904 Loans covered under loss sharing agreements with the FDIC 542,528 - - 515,808 515,808 FDIC loss share asset 69,334 - - 63,187 63,187 Mortgage servicing rights 196,889 - - 196,889 196,889 Derivatives 14,094 - 14,094 - 14,094 December 31, 2016 Carrying (In thousands) amount Level 1 Level 2 Level 3 Fair value Financial Liabilities: Deposits: Demand deposits $ 22,786,682 $ - $ 22,786,682 $ - $ 22,786,682 Time deposits 7,709,542 - 7,708,724 - 7,708,724 Total deposits $ 30,496,224 $ - $ 30,495,406 $ - $ 30,495,406 Assets sold under agreements to repurchase $ 479,425 $ - $ 479,439 $ - $ 479,439 Other short-term borrowings [2] $ 1,200 $ - $ 1,200 $ - $ 1,200 Notes payable: FHLB advances $ 672,670 $ - $ 671,872 $ - $ 671,872 Unsecured senior debt 444,788 - 466,263 - 466,263 Junior subordinated deferrable interest debentures (related to trust preferred securities) 439,323 - 399,370 - 399,370 Others 18,071 - - 18,071 18,071 Total notes payable $ 1,574,852 $ - $ 1,537,505 $ 18,071 $ 1,555,576 Derivatives $ 12,842 $ - $ 12,842 $ - $ 12,842 Contingent consideration $ 153,158 $ - $ - $ 153,158 $ 153,158 [1] Refer to Note 25 to the Consolidated F inancial S tatements for the fair value by class of financial asset and its hierarchy level. [2] Refer to Note 17 to the C onsolidated F inancial S tatements for the composition of other short-term borrowings. The notional amount of commitments to extend credit at September 30, 2017 and December 31, 2016 is $ 7.3 billion and $ 7.8 billion, respectively, and represents the unused portion of credit facilities granted to customers. The notional amount of letters of credit at September 30, 2017 and December 31, 2016 is $ 34 million and $ 36 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 not material to Popular’s financial statements. |
Net income (loss) per common sh
Net income (loss) per common share | 9 Months Ended |
Sep. 30, 2017 | |
Earnings Per Share | |
Net Income (Loss) Per Common Share | Note 27 – 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, 2017 and 2016 : Quarters ended September 30, Nine months ended September 30, (In thousands, except per share information) 2017 2016 2017 2016 Net income $ 20,664 $ 46,810 $ 209,835 $ 220,796 Preferred stock dividends (930) (930) (2,792) (2,792) Net income applicable to common stock $ 19,734 $ 45,880 $ 207,043 $ 218,004 Average common shares outstanding 101,652,352 103,296,443 102,057,607 103,243,851 Average potential dilutive common shares 111,520 168,942 127,937 140,098 Average common shares outstanding - assuming dilution 101,763,872 103,465,385 102,185,544 103,383,949 Basic EPS $ 0.19 $ 0.44 $ 2.03 $ 2.11 Diluted EPS $ 0.19 $ 0.44 $ 2.03 $ 2.11 As disclosed in Note 19 , during the quarter ended March 31, 2017, the Corporation completed a $75 million privately negotiated accelerated share repurchase transaction. As part of this transaction, the Corporation entered into a forward contract in which the final number of shares delivered at settlement was based on the average daily volume weighted average price (“VWAP”) of its common stock, net of a discount, during the term of the ASR. Based on the discounted VWAP of $40.60, the Corporation recei ved 1,847,372 shares of its outstanding common stock. For the quarter and nine months ended September 30, 2017 , the Corporation calculated the impact of potential dilutive common shares under the treasury method, consistent with the method used for th e preparation of the financial statements for the year ended December 31, 2016 . For a discussion of the calculation under the treasury stock method, refer to Note 35 of the consolidated financial statements included in the 2016 Form 10-K. For the qua rters and nine months ended September 30, 2017 and 2016 , there were no stock options outstanding. |
Other service fees
Other service fees | 9 Months Ended |
Sep. 30, 2017 | |
Disclosure Text Block | |
Other Service Fees | Note 28 – 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) 2017 2016 2017 2016 Debit card fees $ 10,359 $ 11,483 $ 33,478 $ 34,153 Insurance fees 13,076 15,943 39,410 42,678 Credit card fees 16,699 17,644 54,280 52,202 Sale and administration of investment products 5,496 5,542 16,377 15,798 Trust fees 4,817 4,968 14,675 14,029 Other fees 3,034 3,589 10,604 10,636 Total other services fees $ 53,481 $ 59,169 $ 168,824 $ 169,496 |
FDIC loss share (expense) incom
FDIC loss share (expense) income | 9 Months Ended |
Sep. 30, 2017 | |
Disclosure Text Block | |
FDIC Loss Share (Expense) Income | Note 29 – FDIC loss share expense The caption of FDIC loss-share expense in the consolidated statements of operations consists of the following major categories: Quarters ended September 30, Nine months ended September 30, (In thousands) 2017 2016 2017 2016 Accretion (amortization) $ 567 $ (1,259) $ (62) $ (9,337) 80% mirror accounting on credit impairment losses (reversal) [1] (329) 659 1,945 (959) 80% mirror accounting on reimbursable expenses 588 853 2,232 7,038 80% mirror accounting on recoveries on covered assets, including rental income on OREOs, subject to reimbursement to the FDIC (1,601) (522) 2,832 (5,123) Change in true-up payment obligation (3,208) (6,611) (13,718) (14,742) Arbitration award expense - (54,924) - (54,924) Other 35 81 (5,909) 602 Total FDIC loss-share expense $ (3,948) $ (61,723) $ (12,680) $ (77,445) [1] Reductions in expected cash flows for ASC 310-30 loans, which may impact the provision for loan losses, may consider reductions in both principal and interest cash flow expectations. The amount covered under the FDIC loss-sharing agreements for interest not collected from borrowers is limited under the agreements (approximately 90 days); accordingly, these amounts are not subject fully to the 80% mirror accounting. |
Pension and postretirement bene
Pension and postretirement benefits | 9 Months Ended |
Sep. 30, 2017 | |
Disclosure Text Block | |
Pension and postretirement benefits | Note 30 – 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) 2017 2016 2017 2016 Interest cost $ 6,120 $ 6,291 $ 352 $ 348 Expected return on plan assets (10,186) (9,623) (502) (538) Amortization of net loss 5,053 4,881 411 332 Total net periodic pension cost (benefit) $ 987 $ 1,549 $ 261 $ 142 Pension Plans Benefit Restoration Plans Nine months ended September 30, Nine months ended September 30, (In thousands) 2017 2016 2017 2016 Interest Cost $ 18,359 $ 18,873 $ 1,057 $ 1,044 Expected return on plan assets (30,557) (28,869) (1,508) (1,614) Amortization of net loss 15,160 14,640 1,233 996 Total net periodic pension cost (benefit) $ 2,962 $ 4,644 $ 782 $ 426 During the quarter ended September 30, 2017 the Corporation made a contribution to the pension and benefit restoration plans of $ 16.1 million . The total contributions expected to be paid during the year 2017 for the pension and benefit restoration plans amount to approximately $ 16.2 million . The Corporation also provides certain postretirement health care benefits for retired employees of certain subsidiaries. The table that follows presents the c omponents of net periodic postretirement benefit cost. Postretirement Benefit Plan Quarters ended September 30, Nine months ended September 30, (In thousands) 2017 2016 2017 2016 Service cost $ 256 $ 289 $ 769 $ 867 Interest cost 1,426 1,505 4,277 4,515 Amortization of prior service cost (950) (950) (2,850) (2,850) Amortization of net loss 142 275 426 825 Total net periodic postretirement benefit cost $ 874 $ 1,119 $ 2,622 $ 3,357 Contributions made to the postretirement benefit plan for the quarter ended September 30, 2017 amounted to approximately $ 1.4 million. The total contributions expected to be paid during the year 2017 for the postretirement benefit plan amount to approximately $ 6.4 million. |
Stock-based compensation
Stock-based compensation | 9 Months Ended |
Sep. 30, 2017 | |
Disclosure Text Block | |
Stock-based Compensation | Note 31 - Stock-based compensation I ncentive Plan In April 2004, the Corporation’s shareholders adopted the Popular, Inc. 2004 Omnibus Incentive Plan (the “Incentive Plan”). The Incentive Plan permits the granting of incentive awards in the form of Annual Incentive Awards, Long-term Performance Unit Awards, Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Units or Performance Shares. Participants in the Incentive Plan are designated by the Compensation Committee of the Board of Directors (or its delegate as deter mined 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 empl oyees’ 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 comme ncing at the date of grant (the “graduated vesting portion”) and the second part is vested at termination of employment after attainment of 55 years of age and 10 years of service (the “retirement vesting portion”) . The graduated vesting portion is accelerated at termination of employment after attaining 55 years of age and 1 0 years of service. The vesting schedule for restricted shares granted on or after 2014 was modified as follows, the first part is vested ratably over four years commencing at the date of the grant (the “graduated vesting portion”) and the second part is vested at terminati on of employment afte r attainment of the earlier of 55 years of age and 10 years of service or 60 years of age and 5 years of service (the “retirement vesting portion”) . The graduated vesting p ortion is accelerated at termination of employment after attaining the earlier of 55 years of age and 10 years of service or 60 year s of age and 5 years of service . 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, 2015 495,731 $ 28.25 Granted 344,488 25.86 Quantity adjusted by TSR factor 39,566 24.37 Vested (487,784) 27.72 Forfeited (8,019) 29.13 Non-vested at December 31, 2016 383,982 $ 26.35 Granted 212,200 42.57 Quantity adjusted by TSR factor (39,414) 33.77 Vested (188,399) 35.47 Non-vested at September 30, 2017 368,369 $ 30.24 During the quarter ended September 30, 2017 and 2016 , no shares of restricted stock we re awarded to manag ement under the Incentive Plan. For the nine month s ended September 30, 2017 , 138,516 shares of restricted stock ( September 30, 2016 – 279,890 ) were awarded to management under the Incentive Plan. Beginning in 2015, the Corporation authorized the issuance of performance shares, in addition to restricted shares, under the Incentive Plan. The performance share awards consist of the oppo rtunity to receive shares of Popular, Inc.’s common stock provided that the Corporation achieves certain goals during a three-year performance cycle. The goals will be based on two metrics weighted equally: the Relative Total Shareholder Return (“TSR”) an d the Absolute Earnings per Share (“EPS”) goals. The TSR metric is considered to be a market condition under ASC 718. For equity settled awards based on a market condition , the fair value is determined as of the grant date and is not subsequently revised based on actual performance. The EPS performance metric is considered to be a performance condition under ASC 718. The fair value is determined based on the probability of achieving the EPS goal as of each reporting period. The TSR and EPS metrics are equally weighted and work independently. The number of shares that will ultimately vest ranges from 50% to a 150% of target based on both market (TSR) and performance (EPS) conditions. The performance shares vest at the end of the three-year performance c ycle. 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 s ended September 30, 2017 and 2016 no pe rformance shares were granted. For the nine month s ended September 30, 2017 , 73,684 ( September 30, 2016 - 64,598 ) performance shares were granted under this plan. During the quarter ended September 30, 2017 , 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, 2016 - $ 1.0 million, with a tax benefit of $ 0.2 million). For the nine month s ended September 30, 2017 , the Corporation recognized $ 4.8 million of restricted stock expense related to management incentive awards, with a tax benefit of $ 0.9 million ( September 30, 2016 - $ 6.6 million, with a tax benefit of $ 1.2 million). For the nine month s ended September 30, 2017 , the fair market value of the restricted stock vested was $ 4.4 million at grant date and $ 6.4 million at vesting date. This triggers a windfall of $ 0.8 million that was recorded as a reduction on income tax expense. During the quarter ended September 30, 2017 the Corporation recognized $ 0.3 million of performance shares expense, with a tax benefit of $ 42 thousand ( September 30, 2016 - $ 0.1 million , with a tax benefit of $ 11 thousand ) . For the nine month s ended September 30, 2017 , the Corporation recognized $ 2.4 million of performance shares expense, with a tax benefit of $ 0.2 million ( September 30, 2016 - $ 1.3 million, with a tax benefit of $ 0.1 million) . The total unrecognized compensation cost related to non-vested restricted stock awards and performance shares to members of management at September 30, 2017 was $ 7.9 million and is expected to be recognized ov er a weighted-average period of 2.5 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, 2015 - $ - Granted 40,517 29.77 Vested (40,517) 29.77 Forfeited - - Non-vested at December 31, 2016 - $ - Granted 25,771 38.42 Vested (25,771) 38.42 Forfeited - - Non-vested at September 30, 2017 - $ - During the quarter s ended September 30, 2017 and 2016 , the Corporation granted no shares of restricted stock to members of the Board of Directors of Popular, Inc. During this period, the Corporation recognized $ 0.3 million of restricted stock expense related to these restricted stock grants, with a tax benefit of $ 39 thousand ( September 30, 2016 - $ 0.3 million, with a tax benefit of $ 31 thousand). For the nine month s ended September 30, 2017 , the Corporation granted 25,771 shares of restricted stock to members of the Board of Directors of Popular, Inc., which became vested at grant date ( September 30, 2016 – 40,517 ). During this period, the Corporation recognized $ 1.0 million of restricted stock expense related to these restricted stock grants, with a tax benefit of $ 0.1 million ( September 30, 2016 - $ 0.8 million, with a tax benefit of $ 84 thousand). The fair value at vesting date of the restricted stock vested during the nine months ended September 30, 2017 for directors was $ 1.0 million. |
Income taxes
Income taxes | 9 Months Ended |
Sep. 30, 2017 | |
Income Tax Disclosure | |
Income Taxes | Note 32 – 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, 2017 September 30, 2016 (In thousands) Amount % of pre-tax income Amount % of pre-tax income Computed income tax expense at statutory rates $ 272 39 % $ 24,434 39 % Net benefit of tax exempt interest income (19,563) (2,803) (15,620) (25) Deferred tax asset valuation allowance 5,142 737 5,698 9 Difference in tax rates due to multiple jurisdictions 189 27 (897) (1) Effect of income subject to preferential tax rate (3,313) (475) 6,364 10 Unrecognized tax benefits (1,185) (170) (4,442) (7) State and local taxes (64) (9) 1,557 2 Others (1,444) (207) (1,255) (2) Income tax (benefit) expense $ (19,966) (2,861) % $ 15,839 25 % Nine months ended September 30, 2017 September 30, 2016 (In thousands) Amount % of pre-tax income Amount % of pre-tax income Computed income tax expense at statutory rates $ 100,857 39 % $ 117,525 39 % Net benefit of tax exempt interest income (56,408) (22) (47,094) (16) Deferred tax asset valuation allowance 15,262 6 14,407 5 Difference in tax rates due to multiple jurisdictions (1,601) (1) (2,874) (1) Effect of income subject to preferential tax rate (9,825) (4) (1,772) (1) Unrecognized tax benefits (1,185) - (4,442) (1) State and local taxes 2,800 1 6,642 2 Others (1,128) - (1,842) (1) Income tax expense $ 48,772 19 % $ 80,550 26 % Income tax benefit amounted to $20 million for the quarter ended September 30, 2017, compared with an income tax expense of $15.8 million for the same quarter of 2016. The reduction in income tax expense was primarily due to lower taxable income before tax and higher tax benefit on net exempt interest income. For the nine months period ended September 30,2017, income tax expense amounted to $48.8 million compared to $80.5 million for the nine months period ended September 30,2016. The reduction in income tax ex pense was primarily due to lower income before tax and higher tax benefit on net exempt interest income. The following table presents a breakdown of the significant components of the Corporation’s deferred tax assets and liabilities. September 30, 2017 (In thousands) PR US Total Deferred tax assets: Tax credits available for carryforward $ 16,069 $ 1,958 $ 18,027 Net operating loss and other carryforward available 117,273 1,106,550 1,223,823 Postretirement and pension benefits 83,925 - 83,925 Deferred loan origination fees 3,768 1,480 5,248 Allowance for loan losses 616,572 38,524 655,096 Deferred gains - 4,262 4,262 Accelerated depreciation 1,325 10,280 11,605 Intercompany deferred (loss) gains (31) - (31) Difference between the assigned values and the tax basis of assets and liabilities recognized in purchase business combinations 17,107 - 17,107 Other temporary differences 22,750 13,512 36,262 Total gross deferred tax assets 878,758 1,176,566 2,055,324 Deferred tax liabilities: FDIC-assisted transaction 58,009 - 58,009 Indefinite-lived intangibles 31,083 48,414 79,497 Unrealized net gain on trading and available-for-sale securities 31,127 (7,537) 23,590 Other temporary differences 9,429 585 10,014 Total gross deferred tax liabilities 129,648 41,462 171,110 Valuation allowance 62,213 615,873 678,086 Net deferred tax asset $ 686,897 $ 519,231 $ 1,206,128 December 31, 2016 (In thousands) PR US Total Deferred tax assets: Tax credits available for carryforward $ 16,552 $ 1,958 $ 18,510 Net operating loss and other carryforward available 112,929 1,125,293 1,238,222 Postretirement and pension benefits 94,741 - 94,741 Deferred loan origination fees 4,335 2,287 6,622 Allowance for loan losses 628,127 20,980 649,107 Deferred gains - 4,884 4,884 Accelerated depreciation 605 9,223 9,828 Intercompany deferred (loss) gains 2,496 - 2,496 Difference between the assigned values and the tax basis of assets and liabilities recognized in purchase business combinations 13,160 - 13,160 Other temporary differences 16,417 14,710 31,127 Total gross deferred tax assets 889,362 1,179,335 2,068,697 Deferred tax liabilities: FDIC-assisted transaction 58,363 - 58,363 Indefinite-lived intangibles 28,412 45,562 73,974 Unrealized net gain on trading and available-for-sale securities 30,334 (8,999) 21,335 Other temporary differences 7,892 585 8,477 Total gross deferred tax liabilities 125,001 37,148 162,149 Valuation allowance 46,951 617,336 664,287 Net deferred tax asset $ 717,410 $ 524,851 $ 1,242,261 The net deferred tax asset shown in the table above at September 30, 2017 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, 2016 - $ 1.2 billion) and $ 1.4 million in deferred tax liabilities in the “Other liabilities” caption (December 31, 2016 - $ 1.4 million ), reflecting the aggregate deferred tax assets or liabilities of individual tax-paying subsidiaries of the Corpora tion in their respective tax jurisdiction, Puerto Rico or the United States. 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. At September 30, 2017 the net deferred tax asset of the U.S. operations amounted to $1.1 billion with a valuation allowance of approximately $616 million , for a net deferred tax as set of approximately $519 million. As of September 30, 2017, management estimated that the U.S. operations would earn enough pre-tax Income during the carryover period to realize the total amount of net deferred tax asset after valuation allowance. After weighting all available positive and negative evid ence, management concluded that is more likely than not that a portion of the deferred tax asset from the U.S. operation, amounting to approximately $519 million, will be realized. Management will continue to evaluate the realization of the deferred tax as set each quarter and adjust as any changes arises. At September 30, 2017 , the Corporation’s net deferred tax assets related to its Puerto Rico operations amounted to $ 687 million. The Corporation’s Puerto Rico Banking operation is not in a cumulati ve three year loss position and has sustained profitability for the three year period ended September 30, 2017 . This is considered a strong piece of objectively verifiable positive evidence that outweights any negative evidence considered by management in th e 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 Popular, Inc., holding company (“PIHC”) operation is in a cumulative loss position taking into account taxable income exclusive of reversing temporary differences, for the three year period ended September 30, 2017 . Management expects these losses will be a trend in future years. This objectively verifiable negative evidence is considered by management as strong negative evidence that will suggest that income in future years will be insufficient to support the reali zation of all deferred tax asset. After weighting of all positive and negative evidence management concluded, as of the reporting date, that it is more likely than not that the PIHC will not be able to realize any portion of the deferred tax assets, con sidering the criteria of ASC Topic 740. Accordingly, a full valuation allowance is recorded on the deferred tax asset at the PIHC, which amounted to $62 million as of September 30, 2017 . The reconciliation of unrecognized tax benefits, excluding interest, was as follows: (In millions) 2017 2016 Balance at January 1 $ 7.4 $ 9.0 Additions for tax positions - January through March 0.2 0.2 Additions for tax positions taken in prior years - January through March - 0.2 Balance at March 31 $ 7.6 $ 9.4 Additions for tax positions - April through June 0.3 0.3 Reduction as a result of settlements - April through June (0.3) - Balance at June 30 $ 7.6 $ 9.7 Additions for tax positions - July through September 0.3 0.3 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 (0.9) (3.0) Balance at September 30 $ 7.0 $ 7.1 At September 30, 2017 , the total amount of interest recognized in the statement of financial condition approximated $2.6 million (December 31, 2016 - $2.9 million). The total interest expense recognized at September 30, 2017 was $458 thousand net of a reduction of $505 thousand due to settlement and $353 thousand due to the expiration of the statute of limitation (December 31, 2016 - $1.2 million). Management determined that at September 30, 2017 and December 31, 2016 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 income tax expense, whiles the penalties, if any, are reported in other operating expenses in the consolidated statements o f operations. After consideration of the effect on U.S. federal tax of unrecognized U.S. state tax benefits, the total amount of unrecognized tax benefits, including U.S. and Puerto Rico, that if recognized, would affect the Corporation’s effective tax ra te, was approximately $ 8.5 million at September 30, 2017 (December 31, 2016 - $ 9.0 million ). The amount of unrecognized tax benefits may increase or decrease in the future for various reasons including adding amounts for current tax year positions, expiration of open income tax returns due to the statutes of limitation, changes in management’s judgme nt about the level of uncertainty, status of examinations, litigation and legislative activity and the addition or elimination of uncertain tax positions. The Corporation and its subsidiaries file income tax returns in Puerto Rico, the U.S. federal jurisdi ction, various U.S. states and political subdivisions, and foreign jurisdictions. At September 30, 2017 , the following years remain subject to examination in the U.S. Federal jurisdiction: 2014 and thereafter; and in the Puerto Rico jurisdiction, 2013 and th ereafter. The Corporation anticipates a reduction in the total amount of unrecognized tax benefits within the next 12 months, which could amount to approximately $ 4.5 million. |
Supplemental disclosure on the
Supplemental disclosure on the consolidated statements of cash flows | 9 Months Ended |
Sep. 30, 2017 | |
Supplemental Cash Flow Information | |
Supplemental Disclosure on the Consolidated Statements of Cash Flows | Note 33 – 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, 2017 and September 30, 2016 are listed in the following table: (In thousands) September 30, 2017 September 30, 2016 Non-cash activities: Loans transferred to other real estate $ 80,992 $ 93,412 Loans transferred to other property 22,987 22,408 Total loans transferred to foreclosed assets 103,979 115,820 Financed sales of other real estate assets 10,621 11,861 Financed sales of other foreclosed assets 5,964 13,426 Total financed sales of foreclosed assets 16,585 25,287 Transfers from loans held-for-sale to loans held-in-portfolio 1,705 5,947 Loans securitized into investment securities [1] 454,507 594,094 Trades receivable from brokers and counterparties 999 80,125 Trades payable to brokers and counterparties 999 22,174 Receivables from investments maturities 270,000 - Recognition of mortgage servicing rights on securitizations or asset transfers 7,530 7,886 [1] Includes loans securitized into trading securities and subsequently sold before quarter end. |
Segment Reporting
Segment Reporting | 9 Months Ended |
Sep. 30, 2017 | |
Disclosure Text Block | |
Segment Reporting | Note 34 – 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. Management determined the reportable segments based on the internal reporting used to evaluate performance and to assess where to allocate resources. The segments were determined based on the organizational structure, which focuses primarily on the markets the segments serve, as well as on the products and services offered by the segments. Banco 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, 2017 , 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 corpora te, 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 i ncludes 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 orig inations. 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 an d 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. M ost 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, Inc., 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, Inc. supported BPNA’s deposit gathering through its online platform until March 31, 2017, when sa id operations were transferred to Popular Direct , a division of BPNA . 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 in surance 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 organization: Finance, Risk Management and Legal. The accounting policies of the in dividual operating segments are the same as those of the Corporation. Transactions between reportable segments are primarily conducted at market rates, resulting in profits that are eliminated for reporting consolidated results of operations. The tables th at follow present the results of operations and total assets by reportable segments: 2017 For the quarter ended September 30, 2017 Banco Popular Banco Popular Intersegment (In thousands) de Puerto Rico North America Eliminations Net interest income $ 321,145 $ 71,453 $ 7 Provision for loan losses 118,177 42,544 - Non-interest income 88,170 5,124 (141) Amortization of intangibles 2,178 167 - Depreciation expense 9,751 2,128 - Other operating expenses 243,564 41,960 (138) Income tax benefit (8,704) (4,117) - Net income (loss) $ 44,349 $ (6,105) $ 4 Segment assets $ 33,031,839 $ 9,323,647 $ (24,615) For the quarter ended September 30, 2017 Reportable (In thousands) Segments Corporate Eliminations Total Popular, Inc. Net interest income (expense) $ 392,605 $ (14,434) $ - $ 378,171 Provision for loan losses 160,721 38 - 160,759 Non-interest income 93,153 7,277 (56) 100,374 Amortization of intangibles 2,345 - - 2,345 Depreciation expense 11,879 159 - 12,038 Other operating expenses 285,386 17,944 (625) 302,705 Income tax benefit (12,821) (7,360) 215 (19,966) Net income (loss) $ 38,248 $ (17,938) $ 354 $ 20,664 Segment assets $ 42,330,871 $ 5,003,304 $ (4,732,908) $ 42,601,267 For the nine months ended September 30, 2017 Banco Popular Banco Popular Intersegment (In thousands) de Puerto Rico North America Eliminations Net interest income $ 951,024 $ 208,274 $ (207) Provision for loan losses 198,668 60,915 - Non-interest income 290,042 15,259 (431) Amortization of intangibles 6,535 499 - Depreciation expense 29,296 6,191 - Other operating expenses 713,594 123,940 (414) Income tax expense 56,946 13,202 (93) Net income $ 236,027 $ 18,786 $ (131) Segment assets $ 33,031,839 $ 9,323,647 $ (24,615) For the nine months ended September 30, 2017 Reportable (In thousands) Segments Corporate Eliminations Total Popular, Inc. Net interest income (expense) $ 1,159,091 $ (44,343) $ - $ 1,114,748 Provision for loan losses 259,583 308 (5,955) 253,936 Non-interest income 304,870 29,616 (1,450) 333,036 Amortization of intangibles 7,034 - - 7,034 Depreciation expense 35,487 479 - 35,966 Other operating expenses 837,120 57,145 (2,024) 892,241 Income tax expense (benefit) 70,055 (23,819) 2,536 48,772 Net income (loss) $ 254,682 $ (48,840) $ 3,993 $ 209,835 Segment assets $ 42,330,871 $ 5,003,304 $ (4,732,908) $ 42,601,267 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 (reversal) 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) 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 Additional disclosures with respect to the Banco Popular de Puerto Rico reportable segment are as follows: 2017 For the quarter ended September 30, 2017 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 $ 132,101 $ 186,827 $ 2,213 $ 4 $ 321,145 Provision for loan losses 27,647 90,530 - - 118,177 Non-interest income 19,733 46,022 22,473 (58) 88,170 Amortization of intangibles 54 1,066 1,058 - 2,178 Depreciation expense 4,386 5,207 158 - 9,751 Other operating expenses 61,843 164,981 16,809 (69) 243,564 Income tax (benefit) expense 11,925 (22,811) 2,182 - (8,704) Net income (loss) $ 45,979 $ (6,124) $ 4,479 $ 15 $ 44,349 Segment assets $ 21,258,790 $ 18,501,519 $ 522,008 $ (7,250,478) $ 33,031,839 For the nine months ended September 30, 2017 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 $ 380,761 $ 564,956 $ 5,295 $ 12 $ 951,024 Provision for loan losses 27,970 170,698 - - 198,668 Non-interest income 60,496 162,613 67,130 (197) 290,042 Amortization of intangibles 158 3,206 3,171 - 6,535 Depreciation expense 12,994 15,759 543 - 29,296 Other operating expenses 177,278 492,939 43,606 (229) 713,594 Income tax expense (benefit) 60,780 (12,760) 8,926 - 56,946 Net income $ 162,077 $ 57,727 $ 16,179 $ 44 $ 236,027 Segment assets $ 21,258,790 $ 18,501,519 $ 522,008 $ (7,250,478) $ 33,031,839 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 (expense) 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 Geographic Information Quarter ended Nine months ended (in thousands) September 30, 2017 September 30, 2016 September 30, 2017 September 30, 2016 Revenues: Puerto Rico $ 378,790 $ 333,006 $ 1,157,324 $ 1,097,944 United States 81,652 77,816 234,778 209,999 Other 18,103 18,843 55,682 56,818 Total consolidated revenues $ 478,545 $ 429,665 $ 1,447,784 $ 1,364,761 [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, 2017 December 31, 2016 Puerto Rico Total assets $ 31,901,778 $ 28,813,289 Loans 16,589,392 16,880,868 Deposits 26,729,468 23,185,551 United States Total assets $ 9,788,336 $ 8,928,475 Loans 6,433,673 5,799,562 Deposits 6,508,324 6,266,473 Other Total assets $ 911,153 $ 919,845 Loans 744,103 755,017 Deposits [1] 1,011,144 1,044,200 [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, 2017 | |
Disclosure Text Block | |
Condensed Consolidating Financial Information of Guarantor and Issuers of Registeres Guranteed Securities | Note 35 – 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, 2017 and December 31, 2016 , and the results of their operations and cash flows for periods ended September 30, 2017 and 2016 . 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, 2017 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 $ 44,155 $ 462 $ 517,440 $ (44,620) $ 517,437 Money market investments 238,696 2,771 5,487,783 (241,038) 5,488,212 Trading account securities, at fair value 3,600 - 42,459 (108) 45,951 Investment securities available-for-sale, at fair value - - 9,061,001 - 9,061,001 Investment securities held-to-maturity, at amortized cost - - 93,438 - 93,438 Other investment securities, at lower of cost or realizable value 9,850 4,492 159,623 - 173,965 Investment in subsidiaries 5,673,204 1,825,240 - (7,498,444) - Loans held-for-sale, at lower of cost or fair value - - 68,864 - 68,864 Loans held-in-portfolio: Loans not covered under loss-sharing agreements with the FDIC 32,877 - 23,263,215 5,955 23,302,047 Loans covered under loss-sharing agreements with the FDIC - - 524,854 - 524,854 Less - Unearned income - - 128,597 - 128,597 Allowance for loan losses 311 - 646,602 - 646,913 Total loans held-in-portfolio, net 32,566 - 23,012,870 5,955 23,051,391 FDIC loss-share asset - - 48,470 - 48,470 Premises and equipment, net 3,174 - 529,358 - 532,532 Other real estate not covered under loss- sharing agreements with the FDIC - - 176,728 - 176,728 Other real estate covered under loss- sharing agreements with the FDIC - - 21,545 - 21,545 Accrued income receivable 227 31 146,157 (76) 146,339 Mortgage servicing assets, at fair value - - 180,157 - 180,157 Other assets 70,896 28,490 2,256,415 (25,874) 2,329,927 Goodwill - - 627,294 - 627,294 Other intangible assets 6,114 - 31,902 - 38,016 Total assets $ 6,082,482 $ 1,861,486 $ 42,461,504 $ (7,804,205) $ 42,601,267 Liabilities and Stockholders' Equity Liabilities: Deposits: Non-interest bearing $ - $ - $ 7,494,477 $ (44,620) $ 7,449,857 Interest bearing - - 27,040,117 (241,038) 26,799,079 Total deposits - - 34,534,594 (285,658) 34,248,936 Assets sold under agreements to repurchase - - 374,405 - 374,405 Other short-term borrowings - - 240,598 - 240,598 Notes payable 737,163 148,532 646,366 - 1,532,061 Other liabilities 59,799 2,589 881,605 (24,157) 919,836 Total liabilities 796,962 151,121 36,677,568 (309,815) 37,315,836 Stockholders' equity: Preferred stock 50,160 - - - 50,160 Common stock 1,042 2 56,307 (56,309) 1,042 Surplus 4,256,526 4,100,807 5,700,621 (9,792,901) 4,265,053 Retained earnings (accumulated deficit) 1,359,257 (2,372,062) 316,220 2,047,315 1,350,730 Treasury stock, at cost (90,133) - - (89) (90,222) Accumulated other comprehensive loss, net of tax (291,332) (18,382) (289,212) 307,594 (291,332) Total stockholders' equity 5,285,520 1,710,365 5,783,936 (7,494,390) 5,285,431 Total liabilities and stockholders' equity $ 6,082,482 $ 1,861,486 $ 42,461,504 $ (7,804,205) $ 42,601,267 Condensed Consolidating Statement of Financial Condition (Unaudited) At December 31, 2016 All other Popular, Inc. PNA subsidiaries and Elimination Popular, Inc. (In thousands) Holding Co. Holding Co. eliminations entries Consolidated Assets: Cash and due from banks $ 47,783 $ 591 $ 362,101 $ (48,081) $ 362,394 Money market investments 252,347 13,263 2,891,670 (267,063) 2,890,217 Trading account securities, at fair value 2,640 - 57,297 (132) 59,805 Investment securities available-for-sale, at fair value - - 8,209,806 - 8,209,806 Investment securities held-to-maturity, at amortized cost - - 98,101 - 98,101 Other investment securities, at lower of cost or realizable value 9,850 4,492 153,476 - 167,818 Investment in subsidiaries 5,609,611 1,818,127 - (7,427,738) - Loans held-for-sale, at lower of cost or fair value - - 88,821 - 88,821 Loans held-in-portfolio: Loans not covered under loss-sharing agreements with the FDIC 1,142 - 22,894,030 - 22,895,172 Loans covered under loss-sharing agreements with the FDIC - - 572,878 - 572,878 Less - Unearned income - - 121,425 - 121,425 Allowance for loan losses 2 - 540,649 - 540,651 Total loans held-in-portfolio, net 1,140 - 22,804,834 - 22,805,974 FDIC loss-share asset - - 69,334 - 69,334 Premises and equipment, net 3,067 - 540,914 - 543,981 Other real estate not covered under loss-sharing agreements with the FDIC 81 - 180,364 - 180,445 Other real estate covered under loss-sharing agreements with the FDIC - - 32,128 - 32,128 Accrued income receivable 112 138 137,882 (90) 138,042 Mortgage servicing assets, at fair value - - 196,889 - 196,889 Other assets 61,770 25,146 2,073,562 (14,968) 2,145,510 Goodwill - - 627,294 - 627,294 Other intangible assets 553 - 44,497 - 45,050 Total assets $ 5,988,954 $ 1,861,757 $ 38,568,970 $ (7,758,072) $ 38,661,609 Liabilities and Stockholders' Equity Liabilities: Deposits: Non-interest bearing $ - $ - $ 7,028,524 $ (48,081) $ 6,980,443 Interest bearing - - 23,782,844 (267,063) 23,515,781 Total deposits - - 30,811,368 (315,144) 30,496,224 Assets sold under agreements to repurchase - - 479,425 - 479,425 Other short-term borrowings - - 1,200 - 1,200 Notes payable 735,600 148,512 690,740 - 1,574,852 Other liabilities 55,309 6,034 865,861 (15,253) 911,951 Total liabilities 790,909 154,546 32,848,594 (330,397) 33,463,652 Stockholders' equity: Preferred stock 50,160 - - - 50,160 Common stock 1,040 2 56,307 (56,309) 1,040 Surplus 4,246,495 4,111,207 5,717,066 (9,819,746) 4,255,022 Retained earnings (accumulated deficit) 1,228,834 (2,382,049) 264,944 2,108,578 1,220,307 Treasury stock, at cost (8,198) - - (88) (8,286) Accumulated other comprehensive loss, net of tax (320,286) (21,949) (317,941) 339,890 (320,286) Total stockholders' equity 5,198,045 1,707,211 5,720,376 (7,427,675) 5,197,957 Total liabilities and stockholders' equity $ 5,988,954 $ 1,861,757 $ 38,568,970 $ (7,758,072) $ 38,661,609 Condensed Consolidating Statement of Operations (Unaudited) Quarter ended September 30, 2017 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 $ 27,500 $ - $ - $ (27,500) $ - Loans 405 - 371,574 - 371,979 Money market investments 730 13 15,529 (743) 15,529 Investment securities 142 81 47,053 - 47,276 Trading account securities - - 1,099 - 1,099 Total interest and dividend income 28,777 94 435,255 (28,243) 435,883 Interest expense: Deposits - - 37,801 (743) 37,058 Short-term borrowings - - 1,524 - 1,524 Long-term debt 13,118 2,693 3,319 - 19,130 Total interest expense 13,118 2,693 42,644 (743) 57,712 Net interest income (expense) 15,659 (2,599) 392,611 (27,500) 378,171 Provision for loan losses- non-covered loans 40 - 157,619 - 157,659 Provision for loan losses- covered loans - - 3,100 - 3,100 Net interest income (expense) after provision for loan losses 15,619 (2,599) 231,892 (27,500) 217,412 Service charges on deposit accounts - - 39,273 - 39,273 Other service fees - - 53,551 (70) 53,481 Mortgage banking activities - - 5,239 - 5,239 Net gain on sale of investment securities - - 103 - 103 Trading account profit 137 - 98 18 253 Net loss on sale of loans, including valuation adjustments on loans held-for-sale - - (420) - (420) Adjustments (expense) to indemnity reserves on loans sold - - (6,406) - (6,406) FDIC loss-share expense - - (3,948) - (3,948) Other operating income 1,564 31 11,208 (4) 12,799 Total non-interest income 1,701 31 98,698 (56) 100,374 Operating expenses: Personnel costs 11,438 - 108,198 - 119,636 Net occupancy expenses 976 - 21,278 - 22,254 Equipment expenses 885 1 15,571 - 16,457 Other taxes 55 - 10,803 - 10,858 Professional fees 2,555 18 68,269 (70) 70,772 Communications 125 - 5,269 - 5,394 Business promotion 454 - 14,762 - 15,216 FDIC deposit insurance - - 6,271 - 6,271 Other real estate owned (OREO) expenses 42 - 11,682 - 11,724 Other operating expenses (17,572) 13 54,275 (555) 36,161 Amortization of intangibles - - 2,345 - 2,345 Total operating expenses (1,042) 32 318,723 (625) 317,088 Income (loss) before income tax and equity in earnings (losses) of subsidiaries 18,362 (2,600) 11,867 (26,931) 698 Income tax benefit - (910) (19,271) 215 (19,966) Income (loss) before equity in earnings (losses) of subsidiaries 18,362 (1,690) 31,138 (27,146) 20,664 Equity in undistributed earnings (losses) of subsidiaries 2,302 (7,681) - 5,379 - Net Income (Loss) $ 20,664 $ (9,371) $ 31,138 $ (21,767) $ 20,664 Comprehensive income (loss), net of tax $ 32,275 $ (7,732) $ 42,516 $ (34,784) $ 32,275 Condensed Consolidating Statement of Operations (Unaudited) Nine months ended September 30, 2017 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 $ 184,000 $ - $ - $ (184,000) $ - Loans 534 - 1,102,250 - 1,102,784 Money market investments 1,820 52 33,233 (1,872) 33,233 Investment securities 425 242 140,032 - 140,699 Trading account securities - - 3,895 - 3,895 Total interest and dividend income 186,779 294 1,279,410 (185,872) 1,280,611 Interest expense: Deposits - - 106,779 (1,872) 104,907 Short-term borrowings - - 3,734 - 3,734 Long-term debt 39,353 8,076 9,793 - 57,222 Total interest expense 39,353 8,076 120,306 (1,872) 165,863 Net interest income (expense) 147,426 (7,782) 1,159,104 (184,000) 1,114,748 Provision for loan losses- non-covered loans 309 - 255,327 (5,955) 249,681 Provision for loan losses- covered loans - - 4,255 - 4,255 Net interest income (expense) after provision for loan losses 147,117 (7,782) 899,522 (178,045) 860,812 Service charges on deposit accounts - - 119,882 - 119,882 Other service fees - - 170,282 (1,458) 168,824 Mortgage banking activities - - 27,349 - 27,349 Net gain on sale of investment securities - - 284 - 284 Other-than-temporary impairment losses on investment securities - - (8,299) - (8,299) Trading account profit (loss) 297 - (1,003) 26 (680) Net gain on sale of loans, including valuation adjustments on loans held-for-sale - - (420) - (420) Adjustments (expense) to indemnity reserves on loans sold - - (11,302) - (11,302) FDIC loss-share expense - - (12,680) - (12,680) Other operating income 10,739 1,256 38,101 (18) 50,078 Total non-interest income 11,036 1,256 322,194 (1,450) 333,036 Operating expenses: Personnel costs 37,226 - 326,832 - 364,058 Net occupancy expenses 2,925 - 62,370 - 65,295 Equipment expenses 1,952 1 46,724 - 48,677 Other taxes 147 - 32,420 - 32,567 Professional fees 8,743 (474) 205,047 (360) 212,956 Communications 407 - 16,835 - 17,242 Business promotion 1,413 - 38,745 - 40,158 FDIC deposit insurance - - 18,936 - 18,936 Other real estate owned (OREO) expenses 42 - 41,170 - 41,212 Other operating expenses (53,227) 39 141,958 (1,664) 87,106 Amortization of intangibles - - 7,034 - 7,034 Total operating expenses (372) (434) 938,071 (2,024) 935,241 Income (loss) before income tax and equity in earnings of subsidiaries 158,525 (6,092) 283,645 (177,471) 258,607 Income tax (benefit) expense - (2,132) 48,368 2,536 48,772 Income (loss) before equity in earnings of subsidiaries 158,525 (3,960) 235,277 (180,007) 209,835 Equity in undistributed earnings of subsidiaries 51,310 13,947 - (65,257) - Net Income $ 209,835 $ 9,987 $ 235,277 $ (245,264) $ 209,835 Comprehensive income, net of tax $ 238,789 $ 13,554 $ 264,006 $ (277,560) $ 238,789 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 gain 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 (loss) 9,070 (2,787) 40,255 (38) 46,500 Total non-interest income (expense) 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 Cash Flow s (Unaudited) Nine months ended September 30, 2017 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 $ 209,835 $ 9,987 $ 235,277 $ (245,264) $ 209,835 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Equity in earnings of subsidiaries, net of dividends or distributions (51,310) (13,947) - 65,257 - Provision for loan losses 309 - 253,627 - 253,936 Amortization of intangibles - - 7,034 - 7,034 Depreciation and amortization of premises and equipment 480 - 35,486 - 35,966 Net accretion of discounts and amortization of premiums and deferred fees 1,565 - (18,936) - (17,371) Impairment losses on long-lived assets - - 11,286 - 11,286 Other-than-temporary impairment on investment securities - - 8,299 - 8,299 Fair value adjustments on mortgage servicing rights - - 24,262 - 24,262 FDIC loss-share expense - - 12,680 - 12,680 Adjustments (expense) to indemnity reserves on loans sold - - 11,302 - 11,302 Earnings from investments under the equity method (10,728) (1,256) (15,366) - (27,350) Deferred income tax (benefit) expense - (2,132) 32,389 214 30,471 (Gain) loss on: Disposition of premises and equipment and other productive assets (17) - 5,035 - 5,018 Sale and valuation adjustments of investment securities - 21 (305) - (284) Sale of loans, including valuation adjustments on loans held for sale and mortgage banking activities - - (16,455) - (16,455) Sale of foreclosed assets, including write-downs 42 - 19,186 - 19,228 Acquisitions of loans held-for-sale - - (204,813) - (204,813) Proceeds from sale of loans held-for-sale - - 68,326 - 68,326 Net originations on loans held-for-sale - - (283,709) - (283,709) Net (increase) decrease in: Trading securities (961) - 499,826 (25) 498,840 Accrued income receivable (115) 107 (8,274) (15) (8,297) Other assets 1,331 45 (3,115) 15,193 13,454 Net (decrease) increase in: Interest payable (7,875) (2,685) 1,246 15 (9,299) Pension and other postretirement benefits obligations - - (13,760) - (13,760) Other liabilities 2,115 (760) 22,742 (8,919) 15,178 Total adjustments (65,164) (20,607) 447,993 71,720 433,942 Net cash provided by (used in) operating activities 144,671 (10,620) 683,270 (173,544) 643,777 Cash flows from investing activities: Net decrease (increase) in money market investments 13,651 10,491 (2,596,111) (26,025) (2,597,994) Purchases of investment securities: Available-for-sale - - (2,356,389) - (2,356,389) Other - - (23,822) - (23,822) Proceeds from calls, paydowns, maturities and redemptions of investment securities: Available-for-sale - - 1,225,915 - 1,225,915 Held-to-maturity - - 6,229 - 6,229 Proceeds from sale of investment securities: Available for sale - - 14,888 - 14,888 Other - - 17,675 - 17,675 Net repayments (disbursements) on loans 172 - (77,572) - (77,400) Proceeds from sale of loans - - 38,279 (37,864) 415 Acquisition of loan portfolios (31,909) - (454,076) 37,864 (448,121) Acquisition of trademark (5,560) - 5,560 - - Net payments from FDIC under loss-sharing agreements - - (11,520) - (11,520) Return of capital from equity method investments 500 - 8,056 - 8,556 Capital contribution to subsidiary (5,955) - 5,955 - - Return of capital from wholly-owned subsidiaries 22,400 10,400 40 (32,840) - Acquisition of premises and equipment (594) - (39,564) - (40,158) Proceeds from sale of: Premises and equipment and other productive assets 21 - 6,961 - 6,982 Foreclosed assets 39 - 85,666 - 85,705 Net cash (used in) provided by investing activities (7,235) 20,891 (4,143,830) (58,865) (4,189,039) Cash flows from financing activities: Net increase (decrease) in: Deposits - - 3,721,882 29,485 3,751,367 Assets sold under agreements to repurchase - - (105,020) - (105,020) Other short-term borrowings - - 239,398 - 239,398 Payments of notes payable - - (89,375) - (89,375) Proceeds from issuance of notes payable - - 45,000 - 45,000 Proceeds from issuance of common stock 5,515 - - - 5,515 Dividends paid to parent company - - (179,500) 179,500 - Dividends paid (69,162) - - - (69,162) Net payments for repurchase of common stock (75,661) - (1) - (75,662) Return of capital to parent company - (10,400) 10,400 - - Capital contribution from parent - - 5,955 (5,955) - Payments related to tax withholding for share-based compensation (1,756) - (32,840) 32,840 (1,756) Net cash (used in) provided by financing activities (141,064) (10,400) 3,615,899 235,870 3,700,305 Net (decrease) increase in cash and due from banks (3,628) (129) 155,339 3,461 155,043 Cash and due from banks at beginning of period 47,783 591 362,101 (48,081) 362,394 Cash and due from banks at end of period $ 44,155 $ 462 $ 517,440 $ (44,620) $ 517,437 During the nine months ended September 30, 2017 there have not been any cash flows associated with discontinued operations. 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 earnings of subsidiaries, net of dividends or distributions (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) increase 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 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, 2017 there have not been any cash flows associated with discontinued operations. |
Basis of Presentation and sum44
Basis of Presentation and summary of significant accounting policies (Policies) | 9 Months Ended |
Sep. 30, 2017 | |
Accounting Policies | |
Consolidation 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, 2016 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 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 C onsolidated F inancial S tatements of the Corporation for the year ended December 31, 2016 , in cluded in the Corporation’s 2016 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 Estimates in the Preparation of Fina ncial 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 reported amounts of assets and liabil ities 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. |
Hurricanes Impact (Tables)
Hurricanes Impact (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Table Text Block | |
Hurricane Impact Table [Text Block] | (In thousands) Quarter ended September 30, 2017 Provision for loan losses [1] $ 69,887 Operating expenses: Personnel costs 58 Net occupancy expenses 468 Business promotion Donations 1,123 Other sponsorship and promotions expenses 203 Total business promotion 1,326 OREO expenses 2,685 Other expenses Write-down of premises and equipment 3,932 Other operating expense 1,033 Total other expenses 4,965 Total operating expenses 9,502 Total pre-tax hurricane expenses $ 79,389 [1] Includes $3.5 million in provision for covered loans. |
Investment securities (Tables)
Investment securities (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Available For Sale Securities Text Block | At September 30, 2017 Gross Gross Weighted Amortized unrealized unrealized Fair average (In thousands) cost gains losses value yield U.S. Treasury securities Within 1 year $ 594,340 $ 3 $ 863 $ 593,480 1.01 % After 1 to 5 years 2,179,553 1,276 9,446 2,171,383 1.41 Total U.S. Treasury securities 2,773,893 1,279 10,309 2,764,863 1.32 Obligations of U.S. Government sponsored entities Within 1 year 204,201 97 282 204,016 1.22 After 1 to 5 years 408,988 254 1,612 407,630 1.46 Total obligations of U.S. Government sponsored entities 613,189 351 1,894 611,646 1.38 Obligations of Puerto Rico, States and political subdivisions After 1 to 5 years 6,605 10 - 6,615 2.49 Total obligations of Puerto Rico, States and political subdivisions 6,605 10 - 6,615 2.49 Collateralized mortgage obligations - federal agencies Within 1 year 80 - - 80 2.74 After 1 to 5 years 17,330 273 44 17,559 2.89 After 5 to 10 years 39,546 149 320 39,375 2.33 After 10 years 974,289 4,276 19,982 958,583 2.00 Total collateralized mortgage obligations - federal agencies 1,031,245 4,698 20,346 1,015,597 2.03 Mortgage-backed securities Within 1 year 740 16 - 756 4.39 After 1 to 5 years 14,721 295 189 14,827 3.70 After 5 to 10 years 329,955 3,117 2,079 330,993 2.26 After 10 years 4,335,400 27,249 49,699 4,312,950 2.46 Total mortgage-backed securities 4,680,816 30,677 51,967 4,659,526 2.45 Equity securities (without contractual maturity) 985 900 - 1,885 8.22 Other After 5 to 10 years 848 21 - 869 3.62 Total other 848 21 - 869 3.62 Total investment securities available-for-sale [1] $ 9,107,581 $ 37,936 $ 84,516 $ 9,061,001 1.99 % [1]Includes $6.7 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 $5.7 billion serve as collateral for public funds. At December 31, 2016 Gross Gross Weighted Amortized unrealized unrealized Fair average (In thousands) cost gains losses value yield U.S. Treasury securities Within 1 year $ 844,002 $ 1,254 $ 28 $ 845,228 1.00 % After 1 to 5 years 1,300,729 214 9,551 1,291,392 1.11 Total U.S. Treasury securities 2,144,731 1,468 9,579 2,136,620 1.06 Obligations of U.S. Government sponsored entities Within 1 year 100,050 102 - 100,152 0.98 After 1 to 5 years 613,293 710 2,505 611,498 1.38 After 5 to 10 years 200 - - 200 5.64 Total obligations of U.S. Government sponsored entities 713,543 812 2,505 711,850 1.32 Obligations of Puerto Rico, States and political subdivisions After 1 to 5 years 6,419 - 161 6,258 2.89 After 5 to 10 years 5,000 - 1,550 3,450 3.80 After 10 years 17,605 - 4,542 13,063 7.09 Total obligations of Puerto Rico, States and political subdivisions 29,024 - 6,253 22,771 5.60 Collateralized mortgage obligations - federal agencies Within 1 year 13 - - 13 1.23 After 1 to 5 years 18,524 429 28 18,925 2.89 After 5 to 10 years 39,178 428 61 39,545 2.68 After 10 years 1,180,686 6,313 23,956 1,163,043 1.99 Total collateralized mortgage obligations - federal agencies 1,238,401 7,170 24,045 1,221,526 2.02 Mortgage-backed securities Within 1 year 55 1 - 56 4.76 After 1 to 5 years 19,960 537 43 20,454 3.86 After 5 to 10 years 317,185 3,701 1,721 319,165 2.29 After 10 years 3,805,675 28,772 68,790 3,765,657 2.47 Total mortgage-backed securities 4,142,875 33,011 70,554 4,105,332 2.46 Equity securities (without contractual maturity) 1,246 876 - 2,122 7.94 Other Within 1 year 8,539 11 - 8,550 1.78 After 5 to 10 years 1,004 31 - 1,035 3.62 Total other 9,543 42 - 9,585 1.97 Total investment securities available-for-sale [1] $ 8,279,363 $ 43,379 $ 112,936 $ 8,209,806 1.94 % [1]Includes $4.1 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 $3.4 billion serve as collateral for public funds. |
Held To Maturity Securities Text Block | At September 30, 2017 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 $ 3,295 $ - $ 1,835 $ 1,460 5.97 % After 1 to 5 years 15,485 - 7,142 8,343 6.05 After 5 to 10 years 29,240 - 13,145 16,095 3.89 After 10 years 44,349 3,660 447 47,562 1.94 Total obligations of Puerto Rico, States and political subdivisions 92,369 3,660 22,569 73,460 3.39 Collateralized mortgage obligations - federal agencies After 5 to 10 years 69 4 - 73 5.45 Total collateralized mortgage obligations - federal agencies 69 4 - 73 5.45 Other Within 1 year 500 - 13 487 1.96 After 1 to 5 years 500 - 8 492 2.97 Total other 1,000 - 21 979 2.47 Total investment securities held-to-maturity [1] $ 93,438 $ 3,664 $ 22,590 $ 74,512 3.38 % [1]Includes $92.4 million pledged to secure public and trust deposits that the secured parties are not permitted to sell or repledge the collateral. At December 31, 2016 Gross Gross Weighted Amortized unrealized unrealized Fair average (In thousands) cost gains losses value yield Obligations of Puerto Rico, States and political subdivisions Within 1 year $ 3,105 $ - $ 1,240 $ 1,865 5.90 % After 1 to 5 years 14,540 - 5,957 8,583 6.02 After 5 to 10 years 18,635 - 7,766 10,869 6.20 After 10 years 59,747 1,368 8,892 52,223 1.91 Total obligations of Puerto Rico, States and political subdivisions 96,027 1,368 23,855 73,540 3.49 Collateralized mortgage obligations - federal agencies After 5 to 10 years 74 4 - 78 5.45 Total collateralized mortgage obligations - federal agencies 74 4 - 78 5.45 Other Within 1 year 1,000 - 3 997 1.65 After 1 to 5 years 1,000 - 39 961 2.44 Total other 2,000 - 42 1,958 2.05 Total investment securities held-to-maturity [1] $ 98,101 $ 1,372 $ 23,897 $ 75,576 3.46 % [1]Includes $53.1 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 Unrealized Loss On Investments Table Text Block | At September 30, 2017 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 $ 2,195,874 $ 10,309 $ - $ - $ 2,195,874 $ 10,309 Obligations of U.S. Government sponsored entities 496,345 1,797 24,139 97 520,484 1,894 Collateralized mortgage obligations - federal agencies 364,098 5,401 387,284 14,945 751,382 20,346 Mortgage-backed securities 3,042,806 44,187 352,342 7,780 3,395,148 51,967 Total investment securities available-for-sale in an unrealized loss position $ 6,099,123 $ 61,694 $ 763,765 $ 22,822 $ 6,862,888 $ 84,516 At December 31, 2016 Less than 12 months 12 months or more Total Gross Gross Gross Fair unrealized Fair unrealized Fair unrealized (In thousands) value losses value losses value losses U.S. Treasury securities $ 1,162,110 $ 9,579 $ - $ - $ 1,162,110 $ 9,579 Obligations of U.S. Government sponsored entities 430,273 2,426 3,126 79 433,399 2,505 Obligations of Puerto Rico, States and political subdivisions 6,258 161 16,512 6,092 22,770 6,253 Collateralized mortgage obligations - federal agencies 505,503 8,112 339,236 15,933 844,739 24,045 Mortgage-backed securities 3,537,606 70,173 15,113 381 3,552,719 70,554 Total investment securities available-for-sale in an unrealized loss position $ 5,641,750 $ 90,451 $ 373,987 $ 22,485 $ 6,015,737 $ 112,936 |
Schedule Of Securities Aggregate Amortized Cost Exceed 10 Of Stockholders Equity [Table Text Block] | September 30, 2017 December 31, 2016 (In thousands) Amortized cost Fair value Amortized cost Fair value FNMA $ 3,531,694 $ 3,502,711 $ 3,255,844 $ 3,211,443 Freddie Mac 1,397,117 1,383,523 1,381,197 1,361,933 |
Held To Maturity Securities Member | |
Schedule Of Unrealized Loss On Investments Table Text Block | At September 30, 2017 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 $ 6,981 $ 77 $ 26,553 $ 22,492 $ 33,534 $ 22,569 Other 492 8 237 13 729 21 Total investment securities held-to-maturity in an unrealized loss position $ 7,473 $ 85 $ 26,790 $ 22,505 $ 34,263 $ 22,590 At December 31, 2016 Less than 12 months 12 months or more Total Gross Gross Gross Fair unrealized Fair unrealized Fair unrealized (In thousands) value losses value losses value losses Obligations of Puerto Rico, States and political subdivisions $ 31,294 $ 1,702 $ 30,947 $ 22,153 $ 62,241 $ 23,855 Other 491 9 1,217 33 1,708 42 Total investment securities held-to-maturity in an unrealized loss position $ 31,785 $ 1,711 $ 32,164 $ 22,186 $ 63,949 $ 23,897 |
Loans (Tables)
Loans (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
ASC Subtopic 310-30 | |
Disclosure Of Carrying Amount Of Loans Acquired In F D I C Assisted Transaction [Table Text Block] | September 30, 2017 December 31, 2016 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 $ 902,908 $ 14,491 $ 917,399 $ 985,181 $ 14,440 $ 999,621 Commercial and industrial 86,795 - 86,795 103,476 - 103,476 Construction - 170 170 - 1,668 1,668 Mortgage 544,745 21,592 566,337 587,949 25,781 613,730 Consumer 17,075 771 17,846 18,775 1,059 19,834 Carrying amount [1] 1,551,523 37,024 1,588,547 1,695,381 42,948 1,738,329 Allowance for loan losses (61,034) (6,066) (67,100) (61,855) (7,022) (68,877) Carrying amount, net of allowance $ 1,490,489 $ 30,958 $ 1,521,447 $ 1,633,526 $ 35,926 $ 1,669,452 [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 $515 million as of September 30, 2017 and $563 million as of December 31, 2016. |
Accretable Yield For Acquired Loans [Table Text Block] | Activity in the accretable yield Westernbank loans ASC 310-30 For the quarters ended September 30, 2017 September 30, 2016 Non-credit Credit Non-credit Credit (In thousands) impaired loans impaired loans Total impaired loans impaired loans Total Beginning balance $ 936,204 $ 6,464 $ 942,668 $ 1,061,971 $ 9,709 $ 1,071,680 Accretion (34,064) (726) (34,790) (38,597) (993) (39,590) Change in expected cash flows 1,842 (391) 1,451 6,992 (390) 6,602 Ending balance $ 903,982 $ 5,347 $ 909,329 $ 1,030,366 $ 8,326 $ 1,038,692 Activity in the accretable yield Westernbank loans ASC 310-30 For the nine months ended September 30, 2017 September 30, 2016 Non-credit Credit Non-credit Credit impaired impaired impaired impaired (In thousands) loans loans Total loans loans Total Beginning balance $ 1,001,908 $ 8,179 $ 1,010,087 $ 1,105,732 $ 6,726 $ 1,112,458 Accretion (105,759) (2,411) (108,170) (125,734) (5,865) (131,599) Change in expected cash flows 7,833 (421) 7,412 50,368 7,465 57,833 Ending balance $ 903,982 $ 5,347 $ 909,329 $ 1,030,366 $ 8,326 $ 1,038,692 Activity in the accretable yield - other acquired loans ASC 310-30 For the quarter ended For the quarter ended (In thousands) September 30, 2017 September 30, 2016 Beginning balance $ 303,004 $ 272,609 Additions 2,882 3,809 Accretion (7,945) (8,689) Change in expected cash flows (7,926) 8,672 Ending balance $ 290,015 $ 276,401 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, 2017 September 30, 2016 Beginning balance $ 278,896 $ 221,128 Additions 8,737 12,320 Accretion (25,203) (25,974) Change in expected cash flows 27,585 68,927 Ending balance $ 290,015 $ 276,401 |
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, 2017 September 30, 2016 Non-credit Credit Non-credit Credit (In thousands) impaired loans impaired loans Total impaired loans impaired loans Total Beginning balance $ 1,579,196 $ 38,591 $ 1,617,787 $ 1,754,613 $ 45,330 $ 1,799,943 Accretion 34,064 726 34,790 38,597 993 39,590 Collections / loan sales / charge-offs (61,737) (2,293) (64,030) (69,030) (2,964) (71,994) Ending balance [1] $ 1,551,523 $ 37,024 $ 1,588,547 $ 1,724,180 $ 43,359 $ 1,767,539 Allowance for loan losses ASC 310-30 Westernbank loans (61,034) (6,066) (67,100) (62,114) (7,457) (69,571) Ending balance, net of ALLL $ 1,490,489 $ 30,958 $ 1,521,447 $ 1,662,066 $ 35,902 $ 1,697,968 [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 $ 515 million as of September 30, 2017 (September 30, 2016- $578 million). Carrying amount of Westernbank loans accounted for pursuant to ASC 310-30 For the nine months ended September 30, 2017 September 30, 2016 Non-credit Credit Non-credit Credit impaired impaired impaired impaired (In thousands) loans loans Total loans loans Total Beginning balance $ 1,695,381 $ 42,948 $ 1,738,329 $ 1,898,146 $ 76,355 $ 1,974,501 Accretion 105,759 2,411 108,170 125,734 5,865 131,599 Collections / loan sales / charge-offs [1] (249,617) (8,335) (257,952) (299,700) (38,861) (338,561) Ending balance [2] $ 1,551,523 $ 37,024 $ 1,588,547 $ 1,724,180 $ 43,359 $ 1,767,539 Allowance for loan losses ASC 310-30 Westernbank loans (61,034) (6,066) (67,100) (62,114) (7,457) (69,571) Ending balance, net of ALLL $ 1,490,489 $ 30,958 $ 1,521,447 $ 1,662,066 $ 35,902 $ 1,697,968 [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 $515 million as of September 30, 2017 (September 30, 2016- $578 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, 2017 September 30, 2016 Beginning balance $ 550,877 562,745 Additions 4,792 8,349 Accretion 7,945 8,689 Collections and charge-offs (18,215) (17,861) Ending balance $ 545,399 $ 561,922 Allowance for loan losses ASC 310-30 other acquired loans (70,930) (18,550) Ending balance, net of ALLL $ 474,469 $ 543,372 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, 2017 September 30, 2016 Beginning balance $ 562,695 $ 564,050 Purchase accounting adjustments related to the Doral Bank Transaction (Refer to Note 15) - (4,707) Additions 14,671 26,754 Accretion 25,203 25,974 Collections and charge-offs (57,170) (50,149) Ending balance $ 545,399 $ 561,922 Allowance for loan losses ASC 310-30 other acquired loans (70,930) (18,550) Ending balance, net of ALLL $ 474,469 $ 543,372 |
Covered loans | |
Schedule Of Financing Receivables Non Accrual Status [Table Text Block] | September 30, 2017 December 31, 2016 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 $ 3,210 $ - $ 3,794 $ - Consumer 196 - 121 - Total [1] $ 3,406 $ - $ 3,915 $ - |
Loans Held for Investment | Non Covered Loans | |
Schedule Of Financing Receivables Non Accrual Status [Table Text Block] | At September 30, 2017 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 $ 1,060 $ - $ - $ - $ 1,060 $ - Commercial real estate non-owner occupied 23,028 - 3,074 - 26,102 - Commercial real estate owner occupied 90,346 - 486 - 90,832 - Commercial and industrial 45,609 384 1,749 - 47,358 384 Construction 99 - - - 99 - Mortgage [3] 337,967 443,377 14,348 - 352,315 443,377 Leasing 2,684 - - - 2,684 - Legacy - - 3,268 - 3,268 - Consumer: Credit cards - 20,626 13 - 13 20,626 Home equity lines of credit - 48 11,960 - 11,960 48 Personal 19,738 77 2,342 - 22,080 77 Auto 12,259 - - - 12,259 - Other 15,876 615 22 - 15,898 615 Total [2] $ 548,666 $ 465,127 $ 37,262 $ - $ 585,928 $ 465,127 At December 31, 2016 Puerto Rico U.S. mainland Popular, Inc. Accruing loans Accruing loans Accruing loans Non-accrual past-due 90 Non-accrual past-due 90 Non-accrual past-due 90 (In thousands) loans days or more [1] loans days or more [1] loans days or more [1] Commercial multi-family $ 664 $ - $ 206 $ - $ 870 $ - Commercial real estate non-owner occupied 24,611 - 1,195 - 25,806 - Commercial real estate owner occupied 102,771 - 472 - 103,243 - Commercial and industrial 31,609 538 1,820 - 33,429 538 Mortgage [3] 318,194 406,583 11,713 - 329,907 406,583 Leasing 3,062 - - - 3,062 - Legacy - - 3,337 - 3,337 - Consumer: Credit cards - 18,725 30 - 30 18,725 Home equity lines of credit - 185 4,762 - 4,762 185 Personal 20,553 34 1,864 - 22,417 34 Auto 12,320 - - - 12,320 - Other 18,724 587 8 - 18,732 587 Total [2] $ 532,508 $ 426,652 $ 25,407 $ - $ 557,915 $ 426,652 |
Past Due Financing Receivables Table Text Block | September 30, 2017 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 $ 108 $ 157 $ 1,060 $ 1,325 $ 145,226 $ 146,551 Commercial real estate non-owner occupied 39,076 10,571 34,234 83,881 2,440,914 2,524,795 Commercial real estate owner occupied 24,283 8,107 103,379 135,769 1,536,504 1,672,273 Commercial and industrial 5,708 1,806 45,993 53,507 2,772,485 2,825,992 Construction - - 269 269 87,436 87,705 Mortgage 583,383 221,646 856,307 1,661,336 4,154,169 5,815,505 Leasing 12,990 4,543 2,684 20,217 734,664 754,881 Consumer: Credit cards 17,523 9,863 20,626 48,012 1,035,234 1,083,246 Home equity lines of credit 117 243 48 408 5,716 6,124 Personal 24,363 10,640 20,247 55,250 1,159,081 1,214,331 Auto 44,331 18,933 12,259 75,523 746,481 822,004 Other 575 357 16,491 17,423 147,242 164,665 Total $ 752,457 $ 286,866 $ 1,113,597 $ 2,152,920 $ 14,965,152 $ 17,118,072 September 30, 2017 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 $ 1,414 $ - $ - $ 1,414 $ 1,179,773 $ 1,181,187 Commercial real estate non-owner occupied - 800 3,074 3,874 1,565,321 1,569,195 Commercial real estate owner occupied 4,350 - 486 4,836 283,948 288,784 Commercial and industrial 960 1,766 94,407 97,133 921,185 1,018,318 Construction 5,243 - - 5,243 730,377 735,620 Mortgage 2,253 6,193 14,348 22,794 690,936 713,730 Legacy 111 275 3,268 3,654 33,854 37,508 Consumer: Credit cards 10 6 13 29 51 80 Home equity lines of credit 5,993 2,446 11,960 20,399 176,419 196,818 Personal 2,321 1,750 2,342 6,413 307,430 313,843 Auto - - - - 3 3 Other - 25 22 47 245 292 Total $ 22,655 $ 13,261 $ 129,920 $ 165,836 $ 5,889,542 $ 6,055,378 September 30, 2017 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 $ 1,522 $ 157 $ 1,060 $ 2,739 $ 1,324,999 $ 1,327,738 Commercial real estate non-owner occupied 39,076 11,371 37,308 87,755 4,006,235 4,093,990 Commercial real estate owner occupied 28,633 8,107 103,865 140,605 1,820,452 1,961,057 Commercial and industrial 6,668 3,572 140,400 150,640 3,693,670 3,844,310 Construction 5,243 - 269 5,512 817,813 823,325 Mortgage 585,636 227,839 870,655 1,684,130 4,845,105 6,529,235 Leasing 12,990 4,543 2,684 20,217 734,664 754,881 Legacy [3] 111 275 3,268 3,654 33,854 37,508 Consumer: Credit cards 17,533 9,869 20,639 48,041 1,035,285 1,083,326 Home equity lines of credit 6,110 2,689 12,008 20,807 182,135 202,942 Personal 26,684 12,390 22,589 61,663 1,466,511 1,528,174 Auto 44,331 18,933 12,259 75,523 746,484 822,007 Other 575 382 16,513 17,470 147,487 164,957 Total $ 775,112 $ 300,127 $ 1,243,517 $ 2,318,756 $ 20,854,694 $ 23,173,450 December 31, 2016 Puerto Rico Past due Non-covered 30-59 60-89 90 days Total loans HIP (In thousands) days days or more past due Current Puerto Rico Commercial multi-family $ 232 $ - $ 664 $ 896 $ 173,644 $ 174,540 Commercial real estate non-owner occupied 98,604 4,785 51,435 154,824 2,409,461 2,564,285 Commercial real estate owner occupied 12,967 5,014 112,997 130,978 1,660,497 1,791,475 Commercial and industrial 19,156 2,638 32,147 53,941 2,617,976 2,671,917 Construction - - 1,668 1,668 83,890 85,558 Mortgage 289,635 136,558 801,251 1,227,444 4,689,056 5,916,500 Leasing 6,619 1,356 3,062 11,037 691,856 702,893 Consumer: Credit cards 11,646 8,752 18,725 39,123 1,061,484 1,100,607 Home equity lines of credit - 65 185 250 8,101 8,351 Personal 12,148 7,918 20,686 40,752 1,109,425 1,150,177 Auto 32,441 7,217 12,320 51,978 774,614 826,592 Other 1,259 294 19,311 20,864 154,665 175,529 Total $ 484,707 $ 174,597 $ 1,074,451 $ 1,733,755 $ 15,434,669 $ 17,168,424 December 31, 2016 U.S. mainland Past due 30-59 60-89 90 days Total Loans HIP (In thousands) days days or more past due Current U.S. mainland Commercial multi-family $ 5,952 $ - $ 206 $ 6,158 $ 1,058,138 $ 1,064,296 Commercial real estate non-owner occupied 1,992 379 1,195 3,566 1,353,750 1,357,316 Commercial real estate owner occupied 2,116 540 472 3,128 240,617 243,745 Commercial and industrial 960 610 101,257 102,827 828,106 930,933 Construction - - - - 690,742 690,742 Mortgage 15,974 5,272 11,713 32,959 746,902 779,861 Legacy 833 346 3,337 4,516 40,777 45,293 Consumer: Credit cards 8 28 30 66 92 158 Home equity lines of credit 2,908 1,055 4,762 8,725 243,450 252,175 Personal 2,547 1,675 1,864 6,086 234,521 240,607 Auto - - - - 9 9 Other - - 8 8 180 188 Total $ 33,290 $ 9,905 $ 124,844 $ 168,039 $ 5,437,284 $ 5,605,323 December 31, 2016 Popular, Inc. Past due Non-covered 30-59 60-89 90 days Total loans HIP (In thousands) days days or more past due Current Popular, Inc. [1] [2] Commercial multi-family $ 6,184 $ - $ 870 $ 7,054 $ 1,231,782 $ 1,238,836 Commercial real estate non-owner occupied 100,596 5,164 52,630 158,390 3,763,211 3,921,601 Commercial real estate owner occupied 15,083 5,554 113,469 134,106 1,901,114 2,035,220 Commercial and industrial 20,116 3,248 133,404 156,768 3,446,082 3,602,850 Construction - - 1,668 1,668 774,632 776,300 Mortgage 305,609 141,830 812,964 1,260,403 5,435,958 6,696,361 Leasing 6,619 1,356 3,062 11,037 691,856 702,893 Legacy [3] 833 346 3,337 4,516 40,777 45,293 Consumer: Credit cards 11,654 8,780 18,755 39,189 1,061,576 1,100,765 Home equity lines of credit 2,908 1,120 4,947 8,975 251,551 260,526 Personal 14,695 9,593 22,550 46,838 1,343,946 1,390,784 Auto 32,441 7,217 12,320 51,978 774,623 826,601 Other 1,259 294 19,319 20,872 154,845 175,717 Total $ 517,997 $ 184,502 $ 1,199,295 $ 1,901,794 $ 20,871,953 $ 22,773,747 |
Loans Held for Investment | Covered loans | |
Past Due Financing Receivables Table Text Block | September 30, 2017 Past due 30-59 60-89 90 days Total Covered (In thousands) days days or more past due Current loans HIP [1] Mortgage $ 47,726 $ 16,104 $ 60,973 $ 124,803 $ 385,408 $ 510,211 Consumer 1,503 442 1,004 2,949 11,694 14,643 Total covered loans $ 49,229 $ 16,546 $ 61,977 $ 127,752 $ 397,102 $ 524,854 [1] Includes $296 million pledged to secure credit facilities at the FHLB which are not permitted to sell or repledge the collateral. December 31, 2016 Past due 30-59 60-89 90 days Total Covered (In thousands) days days or more past due Current loans HIP [1] Mortgage $ 25,506 $ 12,904 $ 69,856 $ 108,266 $ 448,304 $ 556,570 Consumer 751 245 1,074 2,070 14,238 16,308 Total covered loans $ 26,257 $ 13,149 $ 70,930 $ 110,336 $ 462,542 $ 572,878 [1] Includes $337 million pledged to secure credit facilities at the FHLB which are not permitted to sell or repledge the collateral. |
Allowance for loan losses (Tabl
Allowance for loan losses (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
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, 2017 September 30, 2016 September 30, 2017 September 30, 2016 Balance at beginning of period $ 65,674 $ 66,995 $ 68,877 $ 63,563 Provision (reversal of provision) 2,995 6,710 8,214 2,640 Net recoveries (charge-offs) (1,569) (4,134) (9,991) 3,368 Balance at end of period $ 67,100 $ 69,571 $ 67,100 $ 69,571 |
Allowance For Credit Losses On Financing Receivables Table Text Block | For the quarter ended September 30, 2017 Puerto Rico - Non-covered loans (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses: Beginning balance $ 174,189 $ 1,473 $ 147,866 $ 8,003 $ 122,904 $ 454,435 Provision (reversal of provision) 31,059 176 38,838 3,924 41,118 115,115 Charge-offs (5,573) 9 (17,460) (1,733) (31,793) (56,550) Recoveries 6,011 41 389 238 4,570 11,249 Ending balance $ 205,686 $ 1,699 $ 169,633 $ 10,432 $ 136,799 $ 524,249 Specific ALLL $ 40,863 $ - $ 49,129 $ 450 $ 21,730 $ 112,172 General ALLL $ 164,823 $ 1,699 $ 120,504 $ 9,982 $ 115,069 $ 412,077 Loans held-in-portfolio: Impaired non-covered loans $ 328,704 $ - $ 510,134 $ 1,468 $ 101,948 $ 942,254 Non-covered loans held-in-portfolio excluding impaired loans 6,840,907 87,705 5,305,371 753,413 3,188,422 16,175,818 Total non-covered loans held-in-portfolio $ 7,169,611 $ 87,705 $ 5,815,505 $ 754,881 $ 3,290,370 $ 17,118,072 For the quarter ended September 30, 2017 Puerto Rico - Covered loans (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses: Beginning balance $ - $ - $ 30,284 $ - $ 524 $ 30,808 Provision (reversal of provision) - - 2,538 - 562 3,100 Charge-offs - - (863) - (24) (887) Recoveries - - 32 - 4 36 Ending balance $ - $ - $ 31,991 $ - $ 1,066 $ 33,057 Specific ALLL $ - $ - $ - $ - $ - $ - General ALLL $ - $ - $ 31,991 $ - $ 1,066 $ 33,057 Loans held-in-portfolio: Impaired covered loans $ - $ - $ - $ - $ - $ - Covered loans held-in-portfolio excluding impaired loans - - 510,211 - 14,643 524,854 Total covered loans held-in-portfolio $ - $ - $ 510,211 $ - $ 14,643 $ 524,854 For the quarter ended September 30, 2017 U.S. Mainland (In thousands) Commercial Construction Mortgage Legacy Consumer Total Allowance for credit losses: Beginning balance $ 28,319 $ 6,528 $ 4,122 $ 993 $ 14,809 $ 54,771 Provision (reversal of provision) 39,246 595 (39) (418) 3,160 42,544 Charge-offs (4,553) - (113) (86) (4,957) (9,709) Recoveries 271 - 287 383 1,060 2,001 Ending balance $ 63,283 $ 7,123 $ 4,257 $ 872 $ 14,072 $ 89,607 Specific ALLL $ - $ - $ 2,292 $ - $ 727 $ 3,019 General ALLL $ 63,283 $ 7,123 $ 1,965 $ 872 $ 13,345 $ 86,588 Loans held-in-portfolio: Impaired loans $ - $ - $ 9,094 $ - $ 3,439 $ 12,533 Loans held-in-portfolio excluding impaired loans 4,057,484 735,620 704,636 37,508 507,597 6,042,845 Total loans held-in-portfolio $ 4,057,484 $ 735,620 $ 713,730 $ 37,508 $ 511,036 $ 6,055,378 For the quarter ended September 30, 2017 Popular, Inc. (In thousands) Commercial Construction Mortgage Legacy Leasing Consumer Total Allowance for credit losses: Beginning balance $ 202,508 $ 8,001 $ 182,272 $ 993 $ 8,003 $ 138,237 $ 540,014 Provision (reversal of provision) 70,305 771 41,337 (418) 3,924 44,840 160,759 Charge-offs (10,126) 9 (18,436) (86) (1,733) (36,774) (67,146) Recoveries 6,282 41 708 383 238 5,634 13,286 Ending balance $ 268,969 $ 8,822 $ 205,881 $ 872 $ 10,432 $ 151,937 $ 646,913 Specific ALLL $ 40,863 $ - $ 51,421 $ - $ 450 $ 22,457 $ 115,191 General ALLL $ 228,106 $ 8,822 $ 154,460 $ 872 $ 9,982 $ 129,480 $ 531,722 Loans held-in-portfolio: Impaired loans $ 328,704 $ - $ 519,228 $ - $ 1,468 $ 105,387 $ 954,787 Loans held-in-portfolio excluding impaired loans 10,898,391 823,325 6,520,218 37,508 753,413 3,710,662 22,743,517 Total loans held-in-portfolio $ 11,227,095 $ 823,325 $ 7,039,446 $ 37,508 $ 754,881 $ 3,816,049 $ 23,698,304 For the nine months ended September 30, 2017 Puerto Rico - Non-covered loans (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses: Beginning balance $ 189,686 $ 1,353 $ 143,320 $ 7,662 $ 125,963 $ 467,984 Provision (reversal of provision) 29,945 (2,218) 77,692 6,516 76,831 188,766 Charge-offs (38,219) (3,646) (53,936) (5,030) (81,607) (182,438) Recoveries 24,274 6,210 2,557 1,284 15,612 49,937 Ending balance $ 205,686 $ 1,699 $ 169,633 $ 10,432 $ 136,799 $ 524,249 Specific ALLL $ 40,863 $ - $ 49,129 $ 450 $ 21,730 $ 112,172 General ALLL $ 164,823 $ 1,699 $ 120,504 $ 9,982 $ 115,069 $ 412,077 Loans held-in-portfolio: Impaired non-covered loans $ 328,704 $ - $ 510,134 $ 1,468 $ 101,948 $ 942,254 Non-covered loans held-in-portfolio excluding impaired loans 6,840,907 87,705 5,305,371 753,413 3,188,422 16,175,818 Total non-covered loans held-in-portfolio $ 7,169,611 $ 87,705 $ 5,815,505 $ 754,881 $ 3,290,370 $ 17,118,072 For the nine months ended September 30, 2017 Puerto Rico - Covered loans (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses: Beginning balance $ - $ - $ 30,159 $ - $ 191 $ 30,350 Provision (reversal of provision) - - 3,253 - 1,002 4,255 Charge-offs - - (2,700) - (134) (2,834) Recoveries - - 1,279 - 7 1,286 Ending balance $ - $ - $ 31,991 $ - $ 1,066 $ 33,057 Specific ALLL $ - $ - $ - $ - $ - $ - General ALLL $ - $ - $ 31,991 $ - $ 1,066 $ 33,057 Loans held-in-portfolio: Impaired covered loans $ - $ - $ - $ - $ - $ - Covered loans held-in-portfolio excluding impaired loans - - 510,211 - 14,643 524,854 Total covered loans held-in-portfolio $ - $ - $ 510,211 $ - $ 14,643 $ 524,854 For the nine months ended September 30, 2017 U.S. Mainland (In thousands) Commercial Construction Mortgage Legacy Consumer Total Allowance for credit losses: Beginning balance $ 12,968 $ 8,172 $ 4,614 $ 1,343 $ 15,220 $ 42,317 Provision (reversal of provision) 53,491 (1,049) (173) (1,554) 10,200 60,915 Charge-offs (4,774) - (1,064) (669) (14,476) (20,983) Recoveries 1,598 - 880 1,752 3,128 7,358 Ending balance $ 63,283 $ 7,123 $ 4,257 $ 872 $ 14,072 $ 89,607 Specific ALLL $ - $ - $ 2,292 $ - $ 727 $ 3,019 General ALLL $ 63,283 $ 7,123 $ 1,965 $ 872 $ 13,345 $ 86,588 Loans held-in-portfolio: Impaired loans $ - $ - $ 9,094 $ - $ 3,439 $ 12,533 Loans held-in-portfolio excluding impaired loans 4,057,484 735,620 704,636 37,508 507,597 6,042,845 Total loans held-in-portfolio $ 4,057,484 $ 735,620 $ 713,730 $ 37,508 $ 511,036 $ 6,055,378 For the nine months ended September 30, 2017 Popular, Inc. (In thousands) Commercial Construction Mortgage Legacy Leasing Consumer Total Allowance for credit losses: Beginning balance $ 202,654 $ 9,525 $ 178,093 $ 1,343 $ 7,662 $ 141,374 $ 540,651 Provision (reversal of provision) 83,436 (3,267) 80,772 (1,554) 6,516 88,033 253,936 Charge-offs (42,993) (3,646) (57,700) (669) (5,030) (96,217) (206,255) Recoveries 25,872 6,210 4,716 1,752 1,284 18,747 58,581 Ending balance $ 268,969 $ 8,822 $ 205,881 $ 872 $ 10,432 $ 151,937 $ 646,913 Specific ALLL $ 40,863 $ - $ 51,421 $ - $ 450 $ 22,457 $ 115,191 General ALLL $ 228,106 $ 8,822 $ 154,460 $ 872 $ 9,982 $ 129,480 $ 531,722 Loans held-in-portfolio: Impaired loans $ 328,704 $ - $ 519,228 $ - $ 1,468 $ 105,387 $ 954,787 Loans held-in-portfolio excluding impaired loans 10,898,391 823,325 6,520,218 37,508 753,413 3,710,662 22,743,517 Total loans held-in-portfolio $ 11,227,095 $ 823,325 $ 7,039,446 $ 37,508 $ 754,881 $ 3,816,049 $ 23,698,304 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 - Continuing Operations (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 (write-downs) 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 (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 (write-downs) 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 |
Impaired Financing Receivables Table [Text Block] | September 30, 2017 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 $ 204 $ 204 $ 30 $ - $ - $ 204 $ 204 $ 30 Commercial real estate non-owner occupied 109,814 120,252 25,535 7,617 12,780 117,431 133,032 25,535 Commercial real estate owner occupied 120,196 178,892 8,729 28,389 59,034 148,585 237,926 8,729 Commercial and industrial 46,807 49,869 6,569 15,677 25,105 62,484 74,974 6,569 Mortgage 452,734 502,908 49,129 57,400 69,694 510,134 572,602 49,129 Leasing 1,468 1,468 450 - - 1,468 1,468 450 Consumer: Credit cards 35,782 35,782 5,500 - - 35,782 35,782 5,500 Personal 63,015 63,015 15,616 - - 63,015 63,015 15,616 Auto 2,049 2,049 440 - - 2,049 2,049 440 Other 1,102 1,102 174 - - 1,102 1,102 174 Total Puerto Rico $ 833,171 $ 955,541 $ 112,172 $ 109,083 $ 166,613 $ 942,254 $ 1,122,154 $ 112,172 September 30, 2017 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 $ 6,501 $ 8,282 $ 2,292 $ 2,593 $ 3,513 $ 9,094 $ 11,795 $ 2,292 Consumer: HELOCs 2,149 2,158 501 519 536 2,668 2,694 501 Personal 554 555 226 217 217 771 772 226 Total U.S. mainland $ 9,204 $ 10,995 $ 3,019 $ 3,329 $ 4,266 $ 12,533 $ 15,261 $ 3,019 September 30, 2017 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 $ 204 $ 204 $ 30 $ - $ - $ 204 $ 204 $ 30 Commercial real estate non-owner occupied 109,814 120,252 25,535 7,617 12,780 117,431 133,032 25,535 Commercial real estate owner occupied 120,196 178,892 8,729 28,389 59,034 148,585 237,926 8,729 Commercial and industrial 46,807 49,869 6,569 15,677 25,105 62,484 74,974 6,569 Mortgage 459,235 511,190 51,421 59,993 73,207 519,228 584,397 51,421 Leasing 1,468 1,468 450 - - 1,468 1,468 450 Consumer: Credit Cards 35,782 35,782 5,500 - - 35,782 35,782 5,500 HELOCs 2,149 2,158 501 519 536 2,668 2,694 501 Personal 63,569 63,570 15,842 217 217 63,786 63,787 15,842 Auto 2,049 2,049 440 - - 2,049 2,049 440 Other 1,102 1,102 174 - - 1,102 1,102 174 Total Popular, Inc. $ 842,375 $ 966,536 $ 115,191 $ 112,412 $ 170,879 $ 954,787 $ 1,137,415 $ 115,191 December 31, 2016 Puerto Rico Impaired Loans – With an Impaired Loans Allowance With No Allowance Impaired Loans - Total Unpaid Unpaid Unpaid Recorded principal Related Recorded principal Recorded principal Related (In thousands) investment balance allowance investment balance investment balance allowance Commercial multi-family $ 82 $ 82 $ 34 $ - $ - $ 82 $ 82 $ 34 Commercial real estate non-owner occupied 104,119 105,047 24,537 15,935 29,631 120,054 134,678 24,537 Commercial real estate owner occupied 131,634 169,013 13,007 31,962 50,094 163,596 219,107 13,007 Commercial and industrial 46,862 49,301 4,797 7,828 11,478 54,690 60,779 4,797 Mortgage 426,737 466,249 42,428 70,751 87,806 497,488 554,055 42,428 Leasing 1,817 1,817 535 - - 1,817 1,817 535 Consumer: Credit cards 37,464 37,464 5,588 - - 37,464 37,464 5,588 Personal 66,043 66,043 16,955 - - 66,043 66,043 16,955 Auto 2,117 2,117 474 - - 2,117 2,117 474 Other 991 991 168 - - 991 991 168 Total Puerto Rico $ 817,866 $ 898,124 $ 108,523 $ 126,476 $ 179,009 $ 944,342 $ 1,077,133 $ 108,523 December 31, 2016 U.S. mainland Impaired Loans – With an Impaired Loans Allowance With No Allowance Impaired Loans - Total Unpaid Unpaid Unpaid Recorded principal Related Recorded principal Recorded principal Related (In thousands) investment balance allowance investment balance investment balance allowance Mortgage $ 6,381 $ 7,971 $ 2,182 $ 2,495 $ 3,369 $ 8,876 $ 11,340 $ 2,182 Consumer: HELOCs 2,421 2,429 667 300 315 2,721 2,744 667 Personal 39 39 5 79 79 118 118 5 Total U.S. mainland $ 8,841 $ 10,439 $ 2,854 $ 2,874 $ 3,763 $ 11,715 $ 14,202 $ 2,854 December 31, 2016 Popular, Inc. Impaired Loans – With an Impaired Loans Allowance With No Allowance Impaired Loans - Total Unpaid Unpaid Unpaid Recorded principal Related Recorded principal Recorded principal Related (In thousands) investment balance allowance investment balance investment balance allowance Commercial multi-family $ 82 $ 82 $ 34 $ - $ - $ 82 $ 82 $ 34 Commercial real estate non-owner occupied 104,119 105,047 24,537 15,935 29,631 120,054 134,678 24,537 Commercial real estate owner occupied 131,634 169,013 13,007 31,962 50,094 163,596 219,107 13,007 Commercial and industrial 46,862 49,301 4,797 7,828 11,478 54,690 60,779 4,797 Mortgage 433,118 474,220 44,610 73,246 91,175 506,364 565,395 44,610 Leasing 1,817 1,817 535 - - 1,817 1,817 535 Consumer: Credit Cards 37,464 37,464 5,588 - - 37,464 37,464 5,588 HELOCs 2,421 2,429 667 300 315 2,721 2,744 667 Personal 66,082 66,082 16,960 79 79 66,161 66,161 16,960 Auto 2,117 2,117 474 - - 2,117 2,117 474 Other 991 991 168 - - 991 991 168 Total Popular, Inc. $ 826,707 $ 908,563 $ 111,377 $ 129,350 $ 182,772 $ 956,057 $ 1,091,335 $ 111,377 For the quarter ended September 30, 2017 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 $ 141 $ 1 $ - $ - $ 141 $ 1 Commercial real estate non-owner occupied 117,650 1,272 - - 117,650 1,272 Commercial real estate owner occupied 151,580 1,413 - - 151,580 1,413 Commercial and industrial 61,950 531 - - 61,950 531 Mortgage 507,689 3,211 8,995 60 516,684 3,271 Leasing 1,568 - - - 1,568 - Consumer: Credit cards 35,727 - - - 35,727 - Helocs - - 2,572 - 2,572 - Personal 64,091 - 763 - 64,854 - Auto 2,065 - - - 2,065 - Other 991 - - - 991 - Total Popular, Inc. $ 943,452 $ 6,428 $ 12,330 $ 60 $ 955,782 $ 6,488 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 nine months ended September 30, 2017 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 $ 111 $ 4 $ - $ - $ 111 $ 4 Commercial real estate non-owner occupied 118,243 3,997 - - 118,243 3,997 Commercial real estate owner occupied 158,046 4,640 - - 158,046 4,640 Commercial and industrial 61,072 1,682 - - 61,072 1,682 Mortgage 503,628 11,394 8,947 156 512,575 11,550 Leasing 1,689 - - - 1,689 - Consumer: Credit cards 36,718 - - - 36,718 - HELOCs - - 2,632 - 2,632 - Personal 64,962 - 440 - 65,402 - Auto 2,079 - - - 2,079 - Other 891 - - - 891 - Total Popular, Inc. $ 947,439 $ 21,717 $ 12,019 $ 156 $ 959,458 $ 21,873 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 |
Troubled Debt Restructurings Loan Count By Type Of Modification Table [Text Block] | Popular, Inc. For the quarter ended September 30, 2017 For the nine months ended September 30, 2017 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 - - - - 4 1 - - Commercial real estate owner occupied - 3 - - 3 12 - - Commercial and industrial 1 15 - - 3 36 - - Mortgage 13 14 83 16 45 35 301 116 Leasing - - 1 - - 1 6 - Consumer: Credit cards 140 - 4 114 425 - 5 424 HELOCs - - 2 - - 1 3 - Personal 187 2 1 2 699 6 1 3 Auto - 1 2 - - 5 4 1 Other 11 - - - 27 1 - 1 Total 352 35 93 132 1,206 98 320 545 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 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Popular, Inc. For the quarter ended September 30, 2017 (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 owner occupied 3 $ 272 $ 269 $ 29 Commercial and industrial 16 1,022 1,044 111 Mortgage 126 17,692 16,633 1,103 Leasing 1 27 27 8 Consumer: Credit cards 258 2,881 3,114 375 HELOCs 2 203 203 23 Personal 192 2,945 2,944 673 Auto 3 42 42 8 Other 11 46 46 6 Total 612 $ 25,130 $ 24,322 $ 2,336 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 Popular, Inc. For the nine months ended September 30, 2017 (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 5 $ 2,069 $ 1,901 $ 145 Commercial real estate owner occupied 15 2,975 2,951 172 Commercial and industrial 39 1,850 3,967 579 Mortgage 497 58,777 54,965 3,343 Leasing 7 263 262 74 Consumer: Credit cards 854 7,785 8,514 1,019 HELOCs 4 689 686 36 Personal 709 11,979 11,982 2,704 Auto 10 2,043 1,999 362 Other 29 2,002 2,002 70 Total 2,169 $ 90,432 $ 89,229 $ 8,504 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 |
T D R Loans Subsequent Default Table [Text Block] | Popular, Inc. Defaulted during the quarter ended September 30, 2017 Defaulted during the nine months ended September 30, 2017 (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 $ 457 Commercial real estate owner occupied - - 3 1,749 Commercial and industrial 1 36 4 601 Mortgage 48 4,216 110 10,112 Consumer: Credit cards 135 1,212 274 2,661 HELOCs - - 1 97 Personal 67 1,222 138 3,230 Auto 1 19 5 99 Other - - 1 9 Total 252 $ 6,705 538 $ 19,015 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 |
Financing Receivable Credit Quality Indicators Table Text Block | September 30, 2017 Special Pass/ (In thousands) Watch Mention Substandard Doubtful Loss Sub-total Unrated Total Puerto Rico [1] Commercial multi-family $ 1,477 $ 968 $ 6,315 $ - $ - $ 8,760 $ 137,791 $ 146,551 Commercial real estate non-owner occupied 375,756 329,210 321,592 - - 1,026,558 1,498,237 2,524,795 Commercial real estate owner occupied 252,655 141,304 333,947 2,248 - 730,154 942,119 1,672,273 Commercial and industrial 268,283 124,237 217,459 473 51 610,503 2,215,489 2,825,992 Total Commercial 898,171 595,719 879,313 2,721 51 2,375,975 4,793,636 7,169,611 Construction 75 5,353 269 - - 5,697 82,008 87,705 Mortgage 2,637 3,277 193,127 - - 199,041 5,616,464 5,815,505 Leasing - - 2,649 - 35 2,684 752,197 754,881 Consumer: Credit cards - - 20,626 - - 20,626 1,062,620 1,083,246 HELOCs - - 48 - - 48 6,076 6,124 Personal 333 653 21,107 - - 22,093 1,192,238 1,214,331 Auto - - 12,244 - 16 12,260 809,744 822,004 Other - - 16,079 - 396 16,475 148,190 164,665 Total Consumer 333 653 70,104 - 412 71,502 3,218,868 3,290,370 Total Puerto Rico $ 901,216 $ 605,002 $ 1,145,462 $ 2,721 $ 498 $ 2,654,899 $ 14,463,173 $ 17,118,072 U.S. mainland Commercial multi-family $ 15,688 $ 6,387 $ 5,962 $ - $ - $ 28,037 $ 1,153,150 $ 1,181,187 Commercial real estate non-owner occupied 43,205 44,483 37,493 - - 125,181 1,444,014 1,569,195 Commercial real estate owner occupied 25,840 3,451 8,916 - - 38,207 250,577 288,784 Commercial and industrial 3,480 554 156,947 - - 160,981 857,337 1,018,318 Total Commercial 88,213 54,875 209,318 - - 352,406 3,705,078 4,057,484 Construction 30,681 2,391 50,574 - - 83,646 651,974 735,620 Mortgage - - 14,347 - - 14,347 699,383 713,730 Legacy 731 467 3,690 - - 4,888 32,620 37,508 Consumer: Credit cards - - 13 - - 13 67 80 HELOCs - - 7,565 - 4,395 11,960 184,858 196,818 Personal - - 1,624 - 717 2,341 311,502 313,843 Auto - - - - - - 3 3 Other - - 21 - - 21 271 292 Total Consumer - - 9,223 - 5,112 14,335 496,701 511,036 Total U.S. mainland $ 119,625 $ 57,733 $ 287,152 $ - $ 5,112 $ 469,622 $ 5,585,756 $ 6,055,378 Popular, Inc. Commercial multi-family $ 17,165 $ 7,355 $ 12,277 $ - $ - $ 36,797 $ 1,290,941 $ 1,327,738 Commercial real estate non-owner occupied 418,961 373,693 359,085 - - 1,151,739 2,942,251 4,093,990 Commercial real estate owner occupied 278,495 144,755 342,863 2,248 - 768,361 1,192,696 1,961,057 Commercial and industrial 271,763 124,791 374,406 473 51 771,484 3,072,826 3,844,310 Total Commercial 986,384 650,594 1,088,631 2,721 51 2,728,381 8,498,714 11,227,095 Construction 30,756 7,744 50,843 - - 89,343 733,982 823,325 Mortgage 2,637 3,277 207,474 - - 213,388 6,315,847 6,529,235 Legacy 731 467 3,690 - - 4,888 32,620 37,508 Leasing - - 2,649 - 35 2,684 752,197 754,881 Consumer: Credit cards - - 20,639 - - 20,639 1,062,687 1,083,326 HELOCs - - 7,613 - 4,395 12,008 190,934 202,942 Personal 333 653 22,731 - 717 24,434 1,503,740 1,528,174 Auto - - 12,244 - 16 12,260 809,747 822,007 Other - - 16,100 - 396 16,496 148,461 164,957 Total Consumer 333 653 79,327 - 5,524 85,837 3,715,569 3,801,406 Total Popular, Inc. $ 1,020,841 $ 662,735 $ 1,432,614 $ 2,721 $ 5,610 $ 3,124,521 $ 20,048,929 $ 23,173,450 The following table presents the weighted average obligor risk rating at September 30, 2017 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 11.18 5.98 Commercial real estate non-owner occupied 11.07 7.01 Commercial real estate owner occupied 11.25 7.16 Commercial and industrial 11.21 7.19 Total Commercial 11.18 7.11 Construction 11.37 7.73 U.S. mainland: Substandard Pass Commercial multi-family 11.00 7.24 Commercial real estate non-owner occupied 11.21 6.68 Commercial real estate owner occupied 11.05 7.14 Commercial and industrial 11.60 6.15 Total Commercial 11.49 6.76 Construction 11.00 7.68 Legacy 11.12 7.93 December 31, 2016 Special Pass/ (In thousands) Watch Mention Substandard Doubtful Loss Sub-total Unrated Total Puerto Rico [1] Commercial multi-family $ 2,016 $ 383 $ 6,108 $ - $ - $ 8,507 $ 166,033 $ 174,540 Commercial real estate non-owner occupied 310,510 377,858 342,054 155 - 1,030,577 1,533,708 2,564,285 Commercial real estate owner occupied 310,484 109,873 360,941 17,788 - 799,086 992,389 1,791,475 Commercial and industrial 136,091 133,270 227,360 11,514 12 508,247 2,163,670 2,671,917 Total Commercial 759,101 621,384 936,463 29,457 12 2,346,417 4,855,800 7,202,217 Construction 50 1,705 1,668 - - 3,423 82,135 85,558 Mortgage 4,407 1,987 190,090 - - 196,484 5,720,016 5,916,500 Leasing - - 3,062 - - 3,062 699,831 702,893 Consumer: Credit cards - - 18,725 - - 18,725 1,081,882 1,100,607 HELOCs - - 185 - - 185 8,166 8,351 Personal 1,068 812 21,496 - - 23,376 1,126,801 1,150,177 Auto - - 12,321 - - 12,321 814,271 826,592 Other - - 19,311 - - 19,311 156,218 175,529 Total Consumer 1,068 812 72,038 - - 73,918 3,187,338 3,261,256 Total Puerto Rico $ 764,626 $ 625,888 $ 1,203,321 $ 29,457 $ 12 $ 2,623,304 $ 14,545,120 $ 17,168,424 U.S. mainland Commercial multi-family $ 13,537 $ 7,796 $ 658 $ - $ - $ 21,991 $ 1,042,305 $ 1,064,296 Commercial real estate non-owner occupied 57,111 9,778 1,720 - - 68,609 1,288,707 1,357,316 Commercial real estate owner occupied 9,271 - 9,119 - - 18,390 225,355 243,745 Commercial and industrial 3,048 937 153,793 - - 157,778 773,155 930,933 Total Commercial 82,967 18,511 165,290 - - 266,768 3,329,522 3,596,290 Construction 3,000 8,153 16,950 - - 28,103 662,639 690,742 Mortgage - - 11,711 - - 11,711 768,150 779,861 Legacy 921 786 4,400 - - 6,107 39,186 45,293 Consumer: Credit cards - - 30 - - 30 128 158 HELOCs - - 1,923 - 2,839 4,762 247,413 252,175 Personal - - 1,252 - 609 1,861 238,746 240,607 Auto - - - - - - 9 9 Other - - 8 - - 8 180 188 Total Consumer - - 3,213 - 3,448 6,661 486,476 493,137 Total U.S. mainland $ 86,888 $ 27,450 $ 201,564 $ - $ 3,448 $ 319,350 $ 5,285,973 $ 5,605,323 Popular, Inc. Commercial multi-family $ 15,553 $ 8,179 $ 6,766 $ - $ - $ 30,498 $ 1,208,338 $ 1,238,836 Commercial real estate non-owner occupied 367,621 387,636 343,774 155 - 1,099,186 2,822,415 3,921,601 Commercial real estate owner occupied 319,755 109,873 370,060 17,788 - 817,476 1,217,744 2,035,220 Commercial and industrial 139,139 134,207 381,153 11,514 12 666,025 2,936,825 3,602,850 Total Commercial 842,068 639,895 1,101,753 29,457 12 2,613,185 8,185,322 10,798,507 Construction 3,050 9,858 18,618 - - 31,526 744,774 776,300 Mortgage 4,407 1,987 201,801 - - 208,195 6,488,166 6,696,361 Legacy 921 786 4,400 - - 6,107 39,186 45,293 Leasing - - 3,062 - - 3,062 699,831 702,893 Consumer: Credit cards - - 18,755 - - 18,755 1,082,010 1,100,765 HELOCs - - 2,108 - 2,839 4,947 255,579 260,526 Personal 1,068 812 22,748 - 609 25,237 1,365,547 1,390,784 Auto - - 12,321 - - 12,321 814,280 826,601 Other - - 19,319 - - 19,319 156,398 175,717 Total Consumer 1,068 812 75,251 - 3,448 80,579 3,673,814 3,754,393 Total Popular, Inc. $ 851,514 $ 653,338 $ 1,404,885 $ 29,457 $ 3,460 $ 2,942,654 $ 19,831,093 $ 22,773,747 The following table presents the weighted average obligor risk rating at December 31, 2016 for those classifications that consider a range of rating scales. Weighted average obligor risk rating (Scales 11 and 12) (Scales 1 through 8) Puerto Rico: [1] Substandard Pass Commercial multi-family 11.12 5.95 Commercial real estate non-owner occupied 11.07 6.91 Commercial real estate owner occupied 11.23 7.09 Commercial and industrial 11.09 7.19 Total Commercial 11.14 7.06 Construction 11.00 7.67 U.S. mainland: Substandard Pass Commercial multi-family 11.31 7.26 Commercial real estate non-owner occupied 11.70 6.67 Commercial real estate owner occupied 11.05 7.32 Commercial and industrial 11.65 6.15 Total Commercial 11.62 6.78 Construction 11.00 7.67 Legacy 11.10 7.91 |
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, 2017 December 31, 2016 (In thousands) Accruing Non-Accruing Total Related Allowance Accruing Non-Accruing Total Related Allowance Commercial $ 163,349 $ 66,492 $ 229,841 $ 37,471 $ 176,887 $ 83,157 $ 260,044 $ 40,810 Mortgage 793,478 131,424 924,902 51,421 744,926 127,071 871,997 44,610 Leases 963 370 1,333 450 1,383 434 1,817 535 Consumer 95,795 12,004 107,799 22,457 100,277 12,442 112,719 23,857 Total $ 1,053,585 $ 210,290 $ 1,263,875 $ 111,799 $ 1,023,473 $ 223,104 $ 1,246,577 $ 109,812 |
Covered loans | |
Schedule Of Breakdown Between Accrual And Nonaccrual Status Of Troubled Debt Restructurings [Table Text Block] | Popular, Inc. Covered Loans September 30, 2017 December 31, 2016 (In thousands) Accruing Non-Accruing Total Related Allowance Accruing Non-Accruing Total Related Allowance Mortgage $ 3,320 $ 2,617 $ 5,937 $ - $ 2,950 $ 2,580 $ 5,530 $ - Total $ 3,320 $ 2,617 $ 5,937 $ - $ 2,950 $ 2,580 $ 5,530 $ - |
FDIC loss share asset and tru49
FDIC loss share asset and true up payment obligation (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
FDIC Indemnification Asset Roll Forward [Table Text Block] | Quarters ended September 30, Nine months ended September 30, (In thousands) 2017 2016 2017 2016 Balance at beginning of period $ 53,070 $ 218,122 $ 69,334 $ 310,221 Accretion (amortization) 567 (1,259) (62) (9,337) Credit impairment losses (reversal) to be covered under loss-sharing agreements (329) 659 1,945 (959) Reimbursable expenses 588 853 2,232 7,038 Net payments from FDIC under loss-sharing agreements (4,502) (10,897) (18,505) (99,485) Arbitration award expense - (54,924) - (54,924) Other adjustments attributable to FDIC loss-sharing agreements - (87) (5,550) (87) Balance at end of period $ 49,394 $ 152,467 $ 49,394 $ 152,467 Balance due to the FDIC for recoveries on covered assets [1] (924) (7,080) (924) (7,080) Balance at end of period $ 48,470 $ 145,387 $ 48,470 $ 145,387 |
FDIC | |
Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block] | (In thousands) September 30, 2017 December 31, 2016 Carrying amount (fair value) $ 166,876 $ 153,158 Undiscounted amount $ 188,660 $ 188,258 |
Mortgage banking activities (Ta
Mortgage banking activities (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Table Text Block | |
Mortgage Banking Activities [Table Text Block] | Quarters ended September 30, Nine months ended September 30, (In thousands) 2017 2016 2017 2016 Mortgage servicing fees, net of fair value adjustments: Mortgage servicing fees $ 12,012 $ 14,520 $ 38,485 $ 43,997 Mortgage servicing rights fair value adjustments (10,262) (6,062) (24,262) (18,879) Total mortgage servicing fees, net of fair value adjustments 1,750 8,458 14,223 25,118 Net gain on sale of loans, including valuation on loans held-for-sale 4,244 8,857 16,875 24,441 Trading account loss: Unrealized (losses) gains on outstanding derivative positions (147) 95 (104) (44) Realized losses on closed derivative positions (608) (2,138) (3,645) (7,465) Total trading account loss (755) (2,043) (3,749) (7,509) Total mortgage banking activities $ 5,239 $ 15,272 $ 27,349 $ 42,050 |
Transfers of financial assets51
Transfers of financial assets and mortgage servicing assets (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
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, 2017 (In thousands) Level 1 Level 2 Level 3 Initial Fair Value Assets Investments securities available for sale: Mortgage-backed securities - FNMA $ - $ 4,329 $ - $ 4,329 Total investment securities available-for-sale $ - $ 4,329 $ - $ 4,329 Trading account securities: Mortgage-backed securities - GNMA $ - $ 85,722 $ - $ 85,722 Mortgage-backed securities - FNMA - 16,452 - 16,452 Total trading account securities $ - $ 102,174 $ - $ 102,174 Mortgage servicing rights $ - $ - $ 1,588 $ 1,588 Total $ - $ 106,503 $ 1,588 $ 108,091 Proceeds Obtained During the Nine Months Ended September 30, 2017 (In thousands) Level 1 Level 2 Level 3 Initial Fair Value Assets Investments securities available for sale: Mortgage-backed securities - FNMA $ - $ 16,049 $ - $ 16,049 Total investment securities available-for-sale $ - $ 16,049 $ - $ 16,049 Trading account securities: Mortgage-backed securities - GNMA $ - $ 368,660 $ - $ 368,660 Mortgage-backed securities - FNMA - 69,798 - 69,798 Total trading account securities $ - $ 438,458 $ - $ 438,458 Mortgage servicing rights $ - $ - $ 6,766 $ 6,766 Total $ - $ 454,507 $ 6,766 $ 461,273 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 |
Schedule Of Servicing Assets At Fair Value Text Block | Residential MSRs (In thousands) September 30, 2017 September 30, 2016 Fair value at beginning of period $ 196,889 $ 211,405 Additions 7,530 7,843 Changes due to payments on loans [1] (12,794) (13,381) Reduction due to loan repurchases (1,605) (1,183) Changes in fair value due to changes in valuation model inputs or assumptions (9,863) (4,315) Other disposals - (15) Fair value at end of period $ 180,157 $ 200,354 [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, 2017 September 30, 2016 September 30, 2017 September 30, 2016 Prepayment speed 4.9 % 4.6 % 4.3 % 5.2 % Weighted average life 10.5 years 10.6 years 10.9 years 10.1 years Discount rate (annual rate) 10.9 % 11.0 % 10.9 % 11.0 % |
Schedule of Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets | Originated MSRs Purchased MSRs September 30, December 31, September 30, December 31, (In thousands) 2017 2016 2017 2016 Fair value of servicing rights $ 77,786 $ 88,056 $ 102,371 $ 108,833 Weighted average life (in years) 7.2 7.8 6.4 6.9 Weighted average prepayment speed (annual rate) 5.4 % 4.6 % 6.0 % 4.8 % Impact on fair value of 10% adverse change $ (1,931) $ (1,668) $ (2,637) $ (2,051) Impact on fair value of 20% adverse change $ (3,796) $ (3,590) $ (5,172) $ (4,400) Weighted average discount rate (annual rate) 11.5 % 11.5 % 11.0 % 11.0 % Impact on fair value of 10% adverse change $ (3,626) $ (3,851) $ (4,484) $ (4,369) Impact on fair value of 20% adverse change $ (6,982) $ (7,699) $ (8,640) $ (8,778) |
Other Real Estate Owned (Tables
Other Real Estate Owned (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Other Real Estate | |
Other Real Estate Owned Roll Forward [Table Text Block] | For the quarter ended September 30, 2017 Non-covered Non-covered Covered OREO OREO OREO (In thousands) Commercial/ Construction Mortgage Mortgage Total Balance at beginning of period $ 23,949 $ 157,147 $ 25,350 $ 206,446 Write-downs in value (1) (2,702) (2,856) (234) (5,792) Additions 982 18,669 1,560 21,211 Sales (743) (18,185) (4,395) (23,323) Other adjustments - 467 (736) (269) Ending balance $ 21,486 $ 155,242 $ 21,545 $ 198,273 (1) Includes $2.7 million related to the damages from Hurricane Maria, of which $1.3 million were for commercial and $1.4 million for residential. For the nine months ended September 30, 2017 Non-covered Non-covered Covered OREO OREO OREO (In thousands) Commercial/ Construction Mortgage Mortgage Total Balance at beginning of period $ 20,401 $ 160,044 $ 32,128 $ 212,573 Write-downs in value (1) (4,681) (14,715) (2,980) (22,376) Additions 8,604 69,585 9,775 87,964 Sales (2,707) (61,068) (15,184) (78,959) Other adjustments (131) 1,396 (2,194) (929) Ending balance $ 21,486 $ 155,242 $ 21,545 $ 198,273 (1) Includes $2.7 million related to the damages from Hurricane Maria, of which $1.3 million were for commercial and $1.4 million for residential. 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 |
Other assets (Tables)
Other assets (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Other Assets Abstract | |
Schedule Of Other Assets Table Text Block | (In thousands) September 30, 2017 December 31, 2016 Net deferred tax assets (net of valuation allowance) $ 1,207,597 $ 1,243,668 Investments under the equity method 210,067 218,062 Prepaid taxes 164,531 172,550 Other prepaid expenses 87,136 90,320 Derivative assets 14,234 14,085 Trades receivable from brokers and counterparties 999 46,630 Receivables from investments maturities 270,000 - Principal, interest and escrow servicing advances 71,167 69,711 Guaranteed mortgage loan claims receivable 174,964 152,403 Others 129,232 138,081 Total other assets $ 2,329,927 $ 2,145,510 |
Goodwill and other intangible54
Goodwill and other intangible assets (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
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 September 30, 2017 Balance at Balance at Balance at Balance at January 1, Accumulated January 1, September 30, Accumulated September 30, 2017 impairment 2017 2017 impairment 2017 (In thousands) (gross amounts) losses (net amounts) (gross amounts) losses (net amounts) Banco Popular de Puerto Rico $ 280,221 $ 3,801 $ 276,420 $ 280,221 $ 3,801 $ 276,420 Banco Popular North America 515,285 164,411 350,874 515,285 164,411 350,874 Total Popular, Inc. $ 795,506 $ 168,212 $ 627,294 $ 795,506 $ 168,212 $ 627,294 December 31, 2016 Balance at Balance at Balance at Balance at January 1, Accumulated January 1, December 31, Accumulated December 31, 2016 impairment 2016 2016 impairment 2016 (In thousands) (gross amounts) losses (net amounts) (gross amounts) losses (net amounts) Banco Popular de Puerto Rico $ 280,221 $ - $ 280,221 $ 280,221 $ 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 |
Schedule Of Finite Lived Intangible Assets By Major Class Text Block | Gross Net Carrying Accumulated Carrying (In thousands) Amount Amortization Value September 30, 2017 Core deposits $ 37,224 $ 21,416 $ 15,808 Other customer relationships 36,449 20,404 16,045 Total other intangible assets $ 73,673 $ 41,820 $ 31,853 December 31, 2016 Core deposits $ 37,274 $ 18,624 $ 18,650 Other customer relationships 36,449 16,162 20,287 Total other intangible assets $ 73,723 $ 34,786 $ 38,937 |
Schedule Of Expected Amortization Expense Table Text Block | (In thousands) Remaining 2017 $ 2,344 Year 2018 9,286 Year 2019 9,042 Year 2020 4,967 Year 2021 2,157 Year 2022 1,281 Later years 2,776 |
Deposits (Tables)
Deposits (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Table Text Block | |
Interest Bearing Deposits Table [Text Block] | (In thousands) September 30, 2017 December 31, 2016 Savings accounts $ 8,348,091 $ 7,793,533 NOW, money market and other interest bearing demand deposits 10,838,465 8,012,706 Total savings, NOW, money market and other interest bearing demand deposits 19,186,556 15,806,239 Certificates of deposit: Under $100,000 3,549,599 3,570,956 $100,000 and over 4,062,924 4,138,586 Total certificates of deposit 7,612,523 7,709,542 Total interest bearing deposits $ 26,799,079 $ 23,515,781 |
Summary Of Certificates Of Deposit By Maturity Disclosures Table [Text Block] | (In thousands) 2017 $ 1,784,658 2018 2,421,822 2019 1,047,982 2020 1,079,172 2021 727,779 2022 and thereafter 551,110 Total certificates of deposit $ 7,612,523 |
Borrowings (Tables)
Borrowings (Tables) - Debt Instrument [Domain] | 9 Months Ended |
Sep. 30, 2017 | |
Schedule Of Fed Funds Purchased And Assets Sold Under Agreements To Repurchase Table [Text Block] | (In thousands) September 30, 2017 December 31, 2016 Assets sold under agreements to repurchase $ 374,405 $ 479,425 Total assets sold under agreements to repurchase $ 374,405 $ 479,425 |
Schedule of Repurchase Agreements [Table Text Block] | September 30, 2017 December 31, 2016 Repurchase Repurchase (In thousands) liability liability U.S. Treasury Securities Within 30 days $ 69,030 $ 32,700 After 30 to 90 days 53,781 - After 90 days 142,306 19,819 Total U.S. Treasury Securities 265,117 52,519 Obligations of U.S. government sponsored entities Within 30 days - 95,720 After 30 to 90 days 30,835 142,299 After 90 days 35,400 25,380 Total obligations of U.S. government sponsored entities 66,235 263,399 Mortgage-backed securities Within 30 days - 39,108 After 30 to 90 days - 58,552 After 90 days 31,383 54,560 Total mortgage-backed securities 31,383 152,220 Collateralized mortgage obligations Within 30 days 11,670 11,287 Total collateralized mortgage obligations 11,670 11,287 Total $ 374,405 $ 479,425 |
Schedule of Short-term Debt [Table Text Block] | (In thousands) September 30, 2017 December 31, 2016 Advances with the FHLB paying interest at maturity with fixed rates ranging from 1.32% to 1.44% $ 239,398 $ - Others 1,200 1,200 Total other short-term borrowings $ 240,598 $ 1,200 Note: Refer to the Corporation's 2016 Form 10-K for rates information at December 31, 2016. |
Schedule of Notes Payable [Table Text Block] | (In thousands) September 30, 2017 December 31, 2016 Advances with the FHLB with maturities ranging from 2017 through 2029 paying interest at monthly fixed rates ranging from 0.81% to 4.19 % $ 569,889 $ 608,193 Advances with the FHLB with maturities ranging from 2018 through 2019 paying interest monthly at a floating rate ranging from 0.22% to 0.34% over the 1 month LIBOR 34,164 34,164 Advances with the FHLB with maturities ranging from 2018 through 2019 paying interest quarterly at a floating rate from 0.09% to 0.24% over the 3 month LIBOR 25,019 30,313 Unsecured senior debt securities maturing on 2019 paying interest semiannually at a fixed rate of 7.00%, net of debt issuance costs of $3,648 (2016 - $5,212) 446,351 444,788 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 $456 (2016 - $476) 439,344 439,323 Others 17,294 18,071 Total notes payable $ 1,532,061 $ 1,574,852 |
Maturity Distribution Of Debt Securities [Text Block] | Assets sold under Short-term (In thousands) agreements to repurchase borrowings Notes payable Total Year 2017 $ 165,315 $ 205,598 $ 32,536 $ 403,449 2018 209,090 35,000 220,086 464,176 2019 - - 608,530 608,530 2020 - - 112,088 112,088 2021 - - 21,694 21,694 Later years - - 537,127 537,127 Total borrowings $ 374,405 $ 240,598 $ 1,532,061 $ 2,147,064 |
Offsetting of financial asset57
Offsetting of financial assets and liabilities (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Table Text Block | |
Offsetting Assets Table [Text Block] | As of September 30, 2017 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 $ 14,234 $ - $ 14,234 $ 33 $ - $ - $ 14,201 Total $ 14,234 $ - $ 14,234 $ 33 $ - $ - $ 14,201 As of December 31, 2016 Gross Amounts Not Offset in the Statement of Financial Position (In thousands) Gross Amount of Recognized Assets Gross Amounts Offset in the Statement of Financial Position Net Amounts of Assets Presented in the Statement of Financial Position Financial Instruments Securities Collateral Received Cash Collateral Received Net Amount Derivatives $ 14,094 $ - $ 14,094 $ 551 $ - $ - $ 13,543 Reverse repurchase agreements 23,637 - 23,637 - 23,637 - - Total $ 37,731 $ - $ 37,731 $ 551 $ 23,637 $ - $ 13,543 |
Offsetting Liabilities Table [Text Block] | As of September 30, 2017 Gross Amounts Not Offset in the Statement of Financial Position (In thousands) Gross Amount of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Position Net Amounts of Liabilities Presented in the Statement of Financial Position Financial Instruments Securities Collateral Pledged Cash Collateral Pledged Net Amount Derivatives $ 12,841 $ - $ 12,841 $ 33 $ 16 $ - $ 12,792 Repurchase agreements 374,405 - 374,405 - 374,405 - - Total $ 387,246 $ - $ 387,246 $ 33 $ 374,421 $ - $ 12,792 As of December 31, 2016 Gross Amounts Not Offset in the Statement of Financial Position (In thousands) Gross Amount of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Position Net Amounts of Liabilities Presented in the Statement of Financial Position Financial Instruments Securities Collateral Pledged Cash Collateral Received Net Amount Derivatives $ 12,842 $ - $ 12,842 $ 551 $ 747 $ - $ 11,544 Repurchase agreements 479,425 - 479,425 - 479,425 - - Total $ 492,267 $ - $ 492,267 $ 551 $ 480,172 $ - $ 11,544 |
Other comprehensive income (l58
Other comprehensive income (loss) (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
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) 2017 2016 2017 2016 Foreign currency translation Beginning Balance $ (41,405) $ (38,070) $ (39,956) $ (35,930) Other comprehensive loss (390) (325) (1,839) (2,465) Net change (390) (325) (1,839) (2,465) Ending balance $ (41,795) $ (38,395) $ (41,795) $ (38,395) Adjustment of pension and postretirement benefit plans Beginning Balance $ (205,928) $ (205,743) $ (211,610) $ (211,276) Amounts reclassified from accumulated other comprehensive loss for amortization of net losses 3,421 3,348 10,263 10,041 Amounts reclassified from accumulated other comprehensive loss for amortization of prior service credit (580) (580) (1,740) (1,740) Net change 2,841 2,768 8,523 8,301 Ending balance $ (203,087) $ (202,975) $ (203,087) $ (202,975) Unrealized holding gains (losses) on investments Beginning Balance $ (55,742) $ 98,761 $ (68,318) $ (9,560) Other comprehensive income (loss) before reclassifications 9,350 (14,131) 15,331 94,023 Other-than-temporary impairment amount reclassified from accumulated other comprehensive (loss) income - - 6,740 167 Amounts reclassified from accumulated other comprehensive (loss) income for gains on securities (82) (316) (227) (316) Net change 9,268 (14,447) 21,844 93,874 Ending balance $ (46,474) $ 84,314 $ (46,474) $ 84,314 Unrealized net losses on cash flow hedges Beginning Balance $ 132 $ (560) $ (402) $ (120) Other comprehensive loss before reclassifications (250) (685) (869) (2,843) Amounts reclassified from accumulated other comprehensive income (loss) 142 1,006 1,295 2,724 Net change (108) 321 426 (119) Ending balance $ 24 $ (239) $ 24 $ (239) Total $ (291,332) $ (157,295) $ (291,332) $ (157,295) [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 2017 2016 2017 2016 Adjustment of pension and postretirement benefit plans Amortization of net losses Personnel costs $ (5,606) $ (5,488) $ (16,819) $ (16,461) Amortization of prior service credit Personnel costs 950 950 2,850 2,850 Total before tax (4,656) (4,538) (13,969) (13,611) Income tax benefit 1,815 1,770 5,446 5,310 Total net of tax $ (2,841) $ (2,768) $ (8,523) $ (8,301) Unrealized holding gains (losses) on investments Other-than-temporary impairment Other-than-temporary impairment losses on available-for-sale debt securities $ - $ - $ (8,299) $ (209) Realized gains on sale of securities Net gain on sale of investment securities 103 349 284 349 Total before tax 103 349 (8,015) 140 Income tax (expense) benefit (21) (33) 1,502 9 Total net of tax $ 82 $ 316 $ (6,513) $ 149 Unrealized net losses on cash flow hedges Forward contracts Mortgage banking activities $ (232) $ (1,650) $ (2,122) $ (4,466) Total before tax (232) (1,650) (2,122) (4,466) Income tax benefit 90 644 827 1,742 Total net of tax $ (142) $ (1,006) $ (1,295) $ (2,724) Total reclassification adjustments, net of tax $ (2,901) $ (3,458) $ (16,331) $ (10,876) |
Guarantees (Tables)
Guarantees (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
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) 2017 2016 2017 2016 Balance as of beginning of period $ 49,395 $ 56,931 $ 54,489 $ 58,663 Provision for recourse liability 6,375 4,086 11,104 11,613 Net charge-offs (3,718) (4,737) (13,541) (13,996) Balance as of end of period $ 52,052 $ 56,280 $ 52,052 $ 56,280 |
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) 2017 2016 2017 2016 Balance as of beginning of period $ 10,545 $ 10,702 $ 10,936 $ 8,087 Provision (reversal) for representation and warranties (140) (34) (521) 2,767 Net charge-offs - (27) (10) (213) Balance as of end of period $ 10,405 $ 10,641 $ 10,405 $ 10,641 |
Commitments and contingencies (
Commitments and contingencies (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Commitments and Contingencies Disclosure | |
Schedule Of Fair Value Off Balance Sheet Risks Text Block | (In thousands) September 30, 2017 December 31, 2016 Commitments to extend credit: Credit card lines $ 4,311,987 $ 4,562,981 Commercial and construction lines of credit 2,723,002 2,966,656 Other consumer unused credit commitments 250,565 261,856 Commercial letters of credit 2,288 1,490 Standby letters of credit 31,287 34,644 Commitments to originate or fund mortgage loans 9,706 25,622 |
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 $ 5 $ - $ 5 $ 5 After 5 to 10 years 12 - 12 12 After 10 years 30 - 30 30 Total Central Government 47 - 47 47 Government Development Bank (GDB) After 1 to 5 years 3 - 3 3 Total Government Development Bank (GDB) 3 - 3 3 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 3,295 11,341 14,636 16,478 After 1 to 5 years 15,485 192,904 208,389 208,389 After 5 to 10 years 29,240 106,368 135,608 135,608 After 10 years 1,025 122,038 123,063 123,063 Total Municipalities 49,045 432,651 481,696 483,538 Total Direct Government Exposure $ 49,099 $ 432,651 $ 481,750 $ 483,592 |
Non-consolidated variable int61
Non-consolidated variable interest entities (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
FNMA, GNMA, FHLMC VIE | |
Schedule Of Variable Interest Entities Text Block | (In thousands) September 30, 2017 December 31, 2016 Assets Servicing assets: Mortgage servicing rights $ 152,072 $ 158,562 Total servicing assets $ 152,072 $ 158,562 Other assets: Servicing advances $ 22,955 $ 20,787 Total other assets $ 22,955 $ 20,787 Total assets $ 175,027 $ 179,349 Maximum exposure to loss $ 175,027 $ 179,349 |
Corporate Joint Venture | |
Schedule Of Variable Interest Entities Text Block | PRLP 2011 Holdings, LLC PR Asset Portfolio 2013-1 International, LLC (In thousands) September 30, 2017 December 31, 2016 September 30, 2017 December 31, 2016 Assets Loans held-in-portfolio: Advances under the working capital line $ - $ - $ - $ 1,391 Advances under the advance facility - - - 2,475 Total loans held-in-portfolio $ - $ - $ - $ 3,866 Accrued interest receivable $ - $ - $ - $ 19 Other assets: Equity investment $ 7,362 $ 9,167 $ 14,167 $ 22,378 Total assets $ 7,362 $ 9,167 $ 14,167 $ 26,263 Liabilities Deposits $ (480) $ (1,127) $ (16,900) $ (9,692) Total liabilities $ (480) $ (1,127) $ (16,900) $ (9,692) Total net assets $ 6,882 $ 8,040 $ (2,733) $ 16,571 Maximum exposure to loss $ 6,882 $ 8,040 $ - $ 16,571 |
Related party transactions (Tab
Related party transactions (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
PRLP 2011 Holding, LLC | |
Schedule Equity Method Investments Table [Text Block] | (In thousands) September 30, 2017 December 31, 2016 Equity investment in PRLP 2011 Holdings, LLC $ 7,362 $ 9,167 |
Proportionate Share Of Income Loss And Changes In Stockholders Equity TableTextBlock | Quarter ended Nine months ended (In thousands) September 30, 2017 September 30, 2017 Share of income (loss) from the equity investment in PRLP 2011 Holdings, LLC $ 101 $ (808) 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) |
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 |
Balance Sheet Data Resulting From Related Party Transactions Table [Text Block] | (In thousands) September 30, 2017 December 31, 2016 Deposits (non-interest bearing) $ (480) $ (1,127) |
EVERTEC Inc. | |
Schedule Equity Method Investments Table [Text Block] | (In thousands) September 30, 2017 December 31, 2016 Equity investment in EVERTEC $ 45,810 $ 38,904 |
Proportionate Share Of Income Loss And Changes In Stockholders Equity TableTextBlock | Quarter ended Nine months ended (In thousands) September 30, 2017 September 30, 2017 Share of income from the investment in EVERTEC $ 1,200 $ 8,143 Share of other changes in EVERTEC's stockholders' equity 366 2,034 Share of EVERTEC's changes in equity recognized in income $ 1,566 $ 10,177 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 |
Income Statement Data Resulting From Related Party Transactions Table [Text Block] | Quarter ended Nine months ended (In thousands) September 30, 2017 September 30, 2017 Category Interest expense on deposits $ (12) $ (33) Interest expense ATH and credit cards interchange income from services to EVERTEC 7,061 22,656 Other service fees Rental income charged to EVERTEC 1,737 5,119 Net occupancy Processing fees on services provided by EVERTEC (43,855) (132,289) Professional fees Other services provided to EVERTEC 291 900 Other operating expenses Total $ (34,778) $ (103,647) 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) |
Balance Sheet Data Resulting From Related Party Transactions Table [Text Block] | (In thousands) September 30, 2017 December 31, 2016 Accounts receivable (Other assets) $ 5,221 $ 6,394 Deposits (20,712) (14,899) Accounts payable (Other liabilities) (4,070) (20,372) Net total $ (19,561) $ (28,877) |
PR Asset Portfolio 2013-1 International, LLC | |
Schedule Equity Method Investments Table [Text Block] | (In thousands) September 30, 2017 December 31, 2016 Equity investment in PR Asset Portfolio 2013-1 International, LLC $ 14,167 $ 22,378 |
Proportionate Share Of Income Loss And Changes In Stockholders Equity TableTextBlock | Quarter ended Nine months ended (In thousands) September 30, 2017 September 30, 2017 Share of loss from the equity investment in PR Asset Portfolio 2013-1 International, LLC $ (1,299) $ (1,150) 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) |
Income Statement Data Resulting From Related Party Transactions Table [Text Block] | Quarter ended Nine months ended (In thousands) September 30, 2017 September 30, 2017 Category Interest income on loan to PR Asset Portfolio 2013-1 International, LLC $ - $ 9 Interest income Interest expense on deposits (8) (23) Interest expense Total $ (8) $ (14) 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 |
Balance Sheet Data Resulting From Related Party Transactions Table [Text Block] | (In thousands) September 30, 2017 December 31, 2016 Loans $ - $ 3,866 Accrued interest receivable - 19 Deposits (16,900) (9,692) Net total $ (16,900) $ (5,807) |
Fair value measurement (Tables)
Fair value measurement (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Fair Value Disclosures | |
Schedule Of Fair Value Assets And Liabilities Measured On Recurring Basis Table Text Block | At September 30, 2017 (In thousands) Level 1 Level 2 Level 3 Total RECURRING FAIR VALUE MEASUREMENTS Assets Investment securities available-for-sale: U.S. Treasury securities $ - $ 2,764,863 $ - $ 2,764,863 Obligations of U.S. Government sponsored entities - 611,646 - 611,646 Obligations of Puerto Rico, States and political subdivisions - 6,615 - 6,615 Collateralized mortgage obligations - federal agencies - 1,015,597 - 1,015,597 Mortgage-backed securities - 4,658,238 1,288 4,659,526 Equity securities - 1,885 - 1,885 Other - 869 - 869 Total investment securities available-for-sale $ - $ 9,059,713 $ 1,288 $ 9,061,001 Trading account securities, excluding derivatives: Obligations of Puerto Rico, States and political subdivisions $ - $ 172 $ - $ 172 Collateralized mortgage obligations - 276 572 848 Mortgage-backed securities - federal agencies - 32,709 43 32,752 Other - 11,630 549 12,179 Total trading account securities, excluding derivatives $ - $ 44,787 $ 1,164 $ 45,951 Mortgage servicing rights $ - $ - $ 180,157 $ 180,157 Derivatives - 14,234 - 14,234 Total assets measured at fair value on a recurring basis $ - $ 9,118,734 $ 182,609 $ 9,301,343 Liabilities Derivatives $ - $ (12,841) $ - $ (12,841) Contingent consideration - - (166,876) (166,876) Total liabilities measured at fair value on a recurring basis $ - $ (12,841) $ (166,876) $ (179,717) At December 31, 2016 (In thousands) Level 1 Level 2 Level 3 Total RECURRING FAIR VALUE MEASUREMENTS Assets Investment securities available-for-sale: U.S. Treasury securities $ - $ 2,136,620 $ - $ 2,136,620 Obligations of U.S. Government sponsored entities - 711,850 - 711,850 Obligations of Puerto Rico, States and political subdivisions - 22,771 - 22,771 Collateralized mortgage obligations - federal agencies - 1,221,526 - 1,221,526 Mortgage-backed securities - 4,103,940 1,392 4,105,332 Equity securities - 2,122 - 2,122 Other - 9,585 - 9,585 Total investment securities available-for-sale $ - $ 8,208,414 $ 1,392 $ 8,209,806 Trading account securities, excluding derivatives: Obligations of Puerto Rico, States and political subdivisions $ - $ 1,164 $ - $ 1,164 Collateralized mortgage obligations - - 1,321 1,321 Mortgage-backed securities - federal agencies - 37,991 4,755 42,746 Other - 13,963 602 14,565 Total trading account securities, excluding derivatives $ - $ 53,118 $ 6,678 $ 59,796 Mortgage servicing rights $ - $ - $ 196,889 $ 196,889 Derivatives - 14,094 - 14,094 Total assets measured at fair value on a recurring basis $ - $ 8,275,626 $ 204,959 $ 8,480,585 Liabilities Derivatives $ - $ (12,842) $ - $ (12,842) Contingent consideration - - (153,158) (153,158) Total liabilities measured at fair value on a recurring basis $ - $ (12,842) $ (153,158) $ (166,000) |
Fair Value Measurements, Nonrecurring [Table Text Block] | Nine months ended September 30, 2017 (In thousands) Level 1 Level 2 Level 3 Total NONRECURRING FAIR VALUE MEASUREMENTS Assets Write-downs Loans [1] $ - $ - $ 66,221 $ 66,221 $ (16,282) Other real estate owned [2] [3] - - 89,825 89,825 (17,405) Other foreclosed assets [2] - - 2,223 2,223 (475) Total assets measured at fair value on a nonrecurring basis $ - $ - $ 158,269 $ 158,269 $ (34,162) 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) |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Quarter ended September 30, 2017 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, 2017 $ 1,289 $ 858 $ 4,334 $ 557 $ 188,728 $ 195,766 $ (163,668) $ (163,668) Gains (losses) included in earnings - 5 (77) (8) (10,262) (10,342) (3,208) (3,208) Gains (losses) included in OCI (1) - - - - (1) - - Additions - 31 - - 1,691 1,722 - - Settlements - (46) (326) - - (372) - - Transfers out of Level 3 - (276) (3,888) - - (4,164) - - Balance at September 30, 2017 $ 1,288 $ 572 $ 43 $ 549 $ 180,157 $ 182,609 $ (166,876) $ (166,876) Changes in unrealized gains (losses) included in earnings relating to assets still held at September 30, 2017 $ - $ 1 $ - $ 1 $ (6,241) $ (6,239) $ (3,208) $ (3,208) Nine months ended September 30, 2017 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, 2017 $ 1,392 $ 1,321 $ 4,755 $ 602 $ 196,889 $ 204,959 $ (153,158) $ (153,158) Gains (losses) included in earnings - - (124) (53) (24,262) (24,439) (13,718) (13,718) Gains (losses) included in OCI 9 - - - - 9 - - Additions - 39 332 - 7,530 7,901 - - Sales - (365) (156) - - (521) - - Settlements (25) (147) (876) - - (1,048) - - Transfers out of Level 3 (88) (276) (3,888) - - (4,252) - - Balance at September 30, 2017 $ 1,288 $ 572 $ 43 $ 549 $ 180,157 $ 182,609 $ (166,876) $ (166,876) Changes in unrealized gains (losses) included in earnings relating to assets still held at September 30, 2017 $ - $ (5) $ (23) $ 22 $ (9,863) $ (9,869) $ (13,718) $ (13,718) 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) |
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Table Text Block] | Quarter ended September 30, 2017 Nine months ended September 30, 2017 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 FDIC loss share expense $ (3,208) $ (3,208) $ (13,718) $ (13,718) Mortgage banking activities (10,262) (6,241) (24,262) (9,863) Trading account profit (loss) (80) 2 (177) (6) Total $ (13,550) $ (9,447) $ (38,157) $ (23,587) 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 (6,611) (6,611) (14,742) (14,742) Mortgage banking activities (6,062) (1,082) (18,879) (4,315) Trading account profit (loss) (39) (11) 18 107 Total $ (12,712) $ (7,704) $ (33,605) $ (18,950) |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block] | Fair value at September 30, (In thousands) 2017 Valuation technique Unobservable inputs Weighted average (range) CMO's - trading $ 572 Discounted cash flow model Weighted average life 2.1 years (1.6 - 2.2 years) Yield 3.9% (3.7% - 4.2%) Prepayment speed 21.2% (20.2% - 22.9%) Other - trading $ 549 Discounted cash flow model Weighted average life 5.3 years Yield 12.5 % Prepayment speed 10.8 % Mortgage servicing rights $ 180,157 Discounted cash flow model Prepayment speed 5.8% (0.3% - 18.0%) Weighted average life 6.7 years (0.1 - 15.6 years) Discount rate 11.2% (9.5% - 15.0%) Contingent consideration $ (166,876) Discounted cash flow model Credit loss rate on covered loans 3.9% (0.0% - 100.0%) Risk premium component of discount rate 2.9 % Loans held-in-portfolio $ 66,221 [1] External appraisal Haircut applied on external appraisals 25.0% (11.6% - 54.1%) Other real estate owned $ 83,870 [2] External appraisal Haircut applied on external appraisals 21.3% (20.0% - 30.0%) |
Fair value of financial instr64
Fair value of financial instruments (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Fair Value Disclosures | |
Fair Value By Balance Sheet Grouping Text Block | September 30, 2017 Carrying (In thousands) amount Level 1 Level 2 Level 3 Fair value Financial Assets: Cash and due from banks $ 517,437 $ 517,437 $ - $ - $ 517,437 Money market investments 5,488,212 5,479,268 8,944 - 5,488,212 Trading account securities, excluding derivatives [1] 45,951 - 44,787 1,164 45,951 Investment securities available-for-sale [1] 9,061,001 - 9,059,713 1,288 9,061,001 Investment securities held-to-maturity: Obligations of Puerto Rico, States and political subdivisions $ 92,369 $ - $ - $ 73,460 $ 73,460 Collateralized mortgage obligation-federal agency 69 - - 73 73 Other 1,000 - 742 237 979 Total investment securities held-to-maturity $ 93,438 $ - $ 742 $ 73,770 $ 74,512 Other investment securities: FHLB stock $ 64,208 $ - $ 64,208 $ - $ 64,208 FRB stock 94,644 - 94,644 - 94,644 Trust preferred securities 13,198 - 13,198 - 13,198 Other investments 1,915 - - 5,091 5,091 Total other investment securities $ 173,965 $ - $ 172,050 $ 5,091 $ 177,141 Loans held-for-sale $ 68,864 $ - $ - $ 70,499 $ 70,499 Loans not covered under loss sharing agreement with the FDIC 22,559,594 - - 20,896,277 20,896,277 Loans covered under loss sharing agreements with the FDIC 491,797 - - 483,155 483,155 FDIC loss share asset 48,470 - - 37,703 37,703 Mortgage servicing rights 180,157 - - 180,157 180,157 Derivatives 14,234 - 14,234 - 14,234 September 30, 2017 Carrying (In thousands) amount Level 1 Level 2 Level 3 Fair value Financial Liabilities: Deposits: Demand deposits $ 26,636,413 $ - $ 26,636,413 $ - $ 26,636,413 Time deposits 7,612,523 - 7,504,546 - 7,504,546 Total deposits $ 34,248,936 $ - $ 34,140,959 $ - $ 34,140,959 Assets sold under agreements to repurchase $ 374,405 $ - $ 374,377 $ - $ 374,377 Other short-term borrowings [2] $ 240,598 $ - $ 240,598 $ - $ 240,598 Notes payable: FHLB advances $ 629,072 $ - $ 629,538 $ - $ 629,538 Unsecured senior debt securities 446,351 - 470,043 - 470,043 Junior subordinated deferrable interest debentures (related to trust preferred securities) 439,344 - 411,776 - 411,776 Others 17,294 - - 17,294 17,294 Total notes payable $ 1,532,061 $ - $ 1,511,357 $ 17,294 $ 1,528,651 Derivatives $ 12,841 $ - $ 12,841 $ - $ 12,841 Contingent consideration $ 166,876 $ - $ - $ 166,876 $ 166,876 December 31, 2016 Carrying (In thousands) amount Level 1 Level 2 Level 3 Fair value Financial Assets: Cash and due from banks $ 362,394 $ 362,394 $ - $ - $ 362,394 Money market investments 2,890,217 2,854,777 35,440 - 2,890,217 Trading account securities, excluding derivatives [1] 59,796 - 53,118 6,678 59,796 Investment securities available-for-sale [1] 8,209,806 - 8,208,414 1,392 8,209,806 Investment securities held-to-maturity: Obligations of Puerto Rico, States and political subdivisions $ 96,027 $ - $ - $ 73,540 $ 73,540 Collateralized mortgage obligation-federal agency 74 - - 78 78 Other 2,000 - 1,738 220 1,958 Total investment securities held-to-maturity $ 98,101 $ - $ 1,738 $ 73,838 $ 75,576 Other investment securities: FHLB stock $ 58,033 $ - $ 58,033 $ - $ 58,033 FRB stock 94,672 - 94,672 - 94,672 Trust preferred securities 13,198 - 13,198 - 13,198 Other investments 1,915 - - 4,987 4,987 Total other investment securities $ 167,818 $ - $ 165,903 $ 4,987 $ 170,890 Loans held-for-sale $ 88,821 $ - $ 504 $ 89,509 $ 90,013 Loans not covered under loss sharing agreement with the FDIC 22,263,446 - - 20,578,904 20,578,904 Loans covered under loss sharing agreements with the FDIC 542,528 - - 515,808 515,808 FDIC loss share asset 69,334 - - 63,187 63,187 Mortgage servicing rights 196,889 - - 196,889 196,889 Derivatives 14,094 - 14,094 - 14,094 December 31, 2016 Carrying (In thousands) amount Level 1 Level 2 Level 3 Fair value Financial Liabilities: Deposits: Demand deposits $ 22,786,682 $ - $ 22,786,682 $ - $ 22,786,682 Time deposits 7,709,542 - 7,708,724 - 7,708,724 Total deposits $ 30,496,224 $ - $ 30,495,406 $ - $ 30,495,406 Assets sold under agreements to repurchase $ 479,425 $ - $ 479,439 $ - $ 479,439 Other short-term borrowings [2] $ 1,200 $ - $ 1,200 $ - $ 1,200 Notes payable: FHLB advances $ 672,670 $ - $ 671,872 $ - $ 671,872 Unsecured senior debt 444,788 - 466,263 - 466,263 Junior subordinated deferrable interest debentures (related to trust preferred securities) 439,323 - 399,370 - 399,370 Others 18,071 - - 18,071 18,071 Total notes payable $ 1,574,852 $ - $ 1,537,505 $ 18,071 $ 1,555,576 Derivatives $ 12,842 $ - $ 12,842 $ - $ 12,842 Contingent consideration $ 153,158 $ - $ - $ 153,158 $ 153,158 |
Net income per common share (Ta
Net income per common share (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
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) 2017 2016 2017 2016 Net income $ 20,664 $ 46,810 $ 209,835 $ 220,796 Preferred stock dividends (930) (930) (2,792) (2,792) Net income applicable to common stock $ 19,734 $ 45,880 $ 207,043 $ 218,004 Average common shares outstanding 101,652,352 103,296,443 102,057,607 103,243,851 Average potential dilutive common shares 111,520 168,942 127,937 140,098 Average common shares outstanding - assuming dilution 101,763,872 103,465,385 102,185,544 103,383,949 Basic EPS $ 0.19 $ 0.44 $ 2.03 $ 2.11 Diluted EPS $ 0.19 $ 0.44 $ 2.03 $ 2.11 |
Other service fees (Tables)
Other service fees (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Table Text Block | |
Schedule Of Other Service Fees Table [Text Block] | Quarters ended September 30, Nine months ended September 30, (In thousands) 2017 2016 2017 2016 Debit card fees $ 10,359 $ 11,483 $ 33,478 $ 34,153 Insurance fees 13,076 15,943 39,410 42,678 Credit card fees 16,699 17,644 54,280 52,202 Sale and administration of investment products 5,496 5,542 16,377 15,798 Trust fees 4,817 4,968 14,675 14,029 Other fees 3,034 3,589 10,604 10,636 Total other services fees $ 53,481 $ 59,169 $ 168,824 $ 169,496 |
FDIC loss share (expense) inc67
FDIC loss share (expense) income (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
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) 2017 2016 2017 2016 Accretion (amortization) $ 567 $ (1,259) $ (62) $ (9,337) 80% mirror accounting on credit impairment losses (reversal) [1] (329) 659 1,945 (959) 80% mirror accounting on reimbursable expenses 588 853 2,232 7,038 80% mirror accounting on recoveries on covered assets, including rental income on OREOs, subject to reimbursement to the FDIC (1,601) (522) 2,832 (5,123) Change in true-up payment obligation (3,208) (6,611) (13,718) (14,742) Arbitration award expense - (54,924) - (54,924) Other 35 81 (5,909) 602 Total FDIC loss-share expense $ (3,948) $ (61,723) $ (12,680) $ (77,445) [1] Reductions in expected cash flows for ASC 310-30 loans, which may impact the provision for loan losses, may consider reductions in both principal and interest cash flow expectations. The amount covered under the FDIC loss-sharing agreements for interest not collected from borrowers is limited under the agreements (approximately 90 days); accordingly, these amounts are not subject fully to the 80% mirror accounting. |
Pension and postretirement be68
Pension and postretirement benefits (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
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) 2017 2016 2017 2016 Interest cost $ 6,120 $ 6,291 $ 352 $ 348 Expected return on plan assets (10,186) (9,623) (502) (538) Amortization of net loss 5,053 4,881 411 332 Total net periodic pension cost (benefit) $ 987 $ 1,549 $ 261 $ 142 Pension Plans Benefit Restoration Plans Nine months ended September 30, Nine months ended September 30, (In thousands) 2017 2016 2017 2016 Interest Cost $ 18,359 $ 18,873 $ 1,057 $ 1,044 Expected return on plan assets (30,557) (28,869) (1,508) (1,614) Amortization of net loss 15,160 14,640 1,233 996 Total net periodic pension cost (benefit) $ 2,962 $ 4,644 $ 782 $ 426 |
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) 2017 2016 2017 2016 Service cost $ 256 $ 289 $ 769 $ 867 Interest cost 1,426 1,505 4,277 4,515 Amortization of prior service cost (950) (950) (2,850) (2,850) Amortization of net loss 142 275 426 825 Total net periodic postretirement benefit cost $ 874 $ 1,119 $ 2,622 $ 3,357 |
Stock-based compensation (Table
Stock-based compensation (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
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, 2015 495,731 $ 28.25 Granted 344,488 25.86 Quantity adjusted by TSR factor 39,566 24.37 Vested (487,784) 27.72 Forfeited (8,019) 29.13 Non-vested at December 31, 2016 383,982 $ 26.35 Granted 212,200 42.57 Quantity adjusted by TSR factor (39,414) 33.77 Vested (188,399) 35.47 Non-vested at September 30, 2017 368,369 $ 30.24 |
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, 2015 - $ - Granted 40,517 29.77 Vested (40,517) 29.77 Forfeited - - Non-vested at December 31, 2016 - $ - Granted 25,771 38.42 Vested (25,771) 38.42 Forfeited - - Non-vested at September 30, 2017 - $ - |
Income taxes (Tables)
Income taxes (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Schedule Of Deferred Tax Assets And Liabilities Table Text Block | September 30, 2017 (In thousands) PR US Total Deferred tax assets: Tax credits available for carryforward $ 16,069 $ 1,958 $ 18,027 Net operating loss and other carryforward available 117,273 1,106,550 1,223,823 Postretirement and pension benefits 83,925 - 83,925 Deferred loan origination fees 3,768 1,480 5,248 Allowance for loan losses 616,572 38,524 655,096 Deferred gains - 4,262 4,262 Accelerated depreciation 1,325 10,280 11,605 Intercompany deferred (loss) gains (31) - (31) Difference between the assigned values and the tax basis of assets and liabilities recognized in purchase business combinations 17,107 - 17,107 Other temporary differences 22,750 13,512 36,262 Total gross deferred tax assets 878,758 1,176,566 2,055,324 Deferred tax liabilities: FDIC-assisted transaction 58,009 - 58,009 Indefinite-lived intangibles 31,083 48,414 79,497 Unrealized net gain on trading and available-for-sale securities 31,127 (7,537) 23,590 Other temporary differences 9,429 585 10,014 Total gross deferred tax liabilities 129,648 41,462 171,110 Valuation allowance 62,213 615,873 678,086 Net deferred tax asset $ 686,897 $ 519,231 $ 1,206,128 December 31, 2016 (In thousands) PR US Total Deferred tax assets: Tax credits available for carryforward $ 16,552 $ 1,958 $ 18,510 Net operating loss and other carryforward available 112,929 1,125,293 1,238,222 Postretirement and pension benefits 94,741 - 94,741 Deferred loan origination fees 4,335 2,287 6,622 Allowance for loan losses 628,127 20,980 649,107 Deferred gains - 4,884 4,884 Accelerated depreciation 605 9,223 9,828 Intercompany deferred (loss) gains 2,496 - 2,496 Difference between the assigned values and the tax basis of assets and liabilities recognized in purchase business combinations 13,160 - 13,160 Other temporary differences 16,417 14,710 31,127 Total gross deferred tax assets 889,362 1,179,335 2,068,697 Deferred tax liabilities: FDIC-assisted transaction 58,363 - 58,363 Indefinite-lived intangibles 28,412 45,562 73,974 Unrealized net gain on trading and available-for-sale securities 30,334 (8,999) 21,335 Other temporary differences 7,892 585 8,477 Total gross deferred tax liabilities 125,001 37,148 162,149 Valuation allowance 46,951 617,336 664,287 Net deferred tax asset $ 717,410 $ 524,851 $ 1,242,261 |
Summary Of Income Tax Contingencies Text Block | (In millions) 2017 2016 Balance at January 1 $ 7.4 $ 9.0 Additions for tax positions - January through March 0.2 0.2 Additions for tax positions taken in prior years - January through March - 0.2 Balance at March 31 $ 7.6 $ 9.4 Additions for tax positions - April through June 0.3 0.3 Reduction as a result of settlements - April through June (0.3) - Balance at June 30 $ 7.6 $ 9.7 Additions for tax positions - July through September 0.3 0.3 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 (0.9) (3.0) Balance at September 30 $ 7.0 $ 7.1 |
PUERTO RICO | |
Schedule Of Effective Income Tax Rate Reconciliation Table Text Block | Quarters ended September 30, 2017 September 30, 2016 (In thousands) Amount % of pre-tax income Amount % of pre-tax income Computed income tax expense at statutory rates $ 272 39 % $ 24,434 39 % Net benefit of tax exempt interest income (19,563) (2,803) (15,620) (25) Deferred tax asset valuation allowance 5,142 737 5,698 9 Difference in tax rates due to multiple jurisdictions 189 27 (897) (1) Effect of income subject to preferential tax rate (3,313) (475) 6,364 10 Unrecognized tax benefits (1,185) (170) (4,442) (7) State and local taxes (64) (9) 1,557 2 Others (1,444) (207) (1,255) (2) Income tax (benefit) expense $ (19,966) (2,861) % $ 15,839 25 % Nine months ended September 30, 2017 September 30, 2016 (In thousands) Amount % of pre-tax income Amount % of pre-tax income Computed income tax expense at statutory rates $ 100,857 39 % $ 117,525 39 % Net benefit of tax exempt interest income (56,408) (22) (47,094) (16) Deferred tax asset valuation allowance 15,262 6 14,407 5 Difference in tax rates due to multiple jurisdictions (1,601) (1) (2,874) (1) Effect of income subject to preferential tax rate (9,825) (4) (1,772) (1) Unrecognized tax benefits (1,185) - (4,442) (1) State and local taxes 2,800 1 6,642 2 Others (1,128) - (1,842) (1) Income tax expense $ 48,772 19 % $ 80,550 26 % |
Supplemental disclosure on th71
Supplemental disclosure on the consolidated statements of cash flows (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Supplemental Cash Flow Information | |
Schedule Of Cash Flow Supplemental Disclosures Table Text Block | (In thousands) September 30, 2017 September 30, 2016 Non-cash activities: Loans transferred to other real estate $ 80,992 $ 93,412 Loans transferred to other property 22,987 22,408 Total loans transferred to foreclosed assets 103,979 115,820 Financed sales of other real estate assets 10,621 11,861 Financed sales of other foreclosed assets 5,964 13,426 Total financed sales of foreclosed assets 16,585 25,287 Transfers from loans held-for-sale to loans held-in-portfolio 1,705 5,947 Loans securitized into investment securities [1] 454,507 594,094 Trades receivable from brokers and counterparties 999 80,125 Trades payable to brokers and counterparties 999 22,174 Receivables from investments maturities 270,000 - Recognition of mortgage servicing rights on securitizations or asset transfers 7,530 7,886 [1] Includes loans securitized into trading securities and subsequently sold before quarter end. |
Segment reporting (Tables)
Segment reporting (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Table Text Block | |
Schedule Of Segment Reporting Information By Segment Text Block | 2017 For the quarter ended September 30, 2017 Banco Popular Banco Popular Intersegment (In thousands) de Puerto Rico North America Eliminations Net interest income $ 321,145 $ 71,453 $ 7 Provision for loan losses 118,177 42,544 - Non-interest income 88,170 5,124 (141) Amortization of intangibles 2,178 167 - Depreciation expense 9,751 2,128 - Other operating expenses 243,564 41,960 (138) Income tax benefit (8,704) (4,117) - Net income (loss) $ 44,349 $ (6,105) $ 4 Segment assets $ 33,031,839 $ 9,323,647 $ (24,615) For the quarter ended September 30, 2017 Reportable (In thousands) Segments Corporate Eliminations Total Popular, Inc. Net interest income (expense) $ 392,605 $ (14,434) $ - $ 378,171 Provision for loan losses 160,721 38 - 160,759 Non-interest income 93,153 7,277 (56) 100,374 Amortization of intangibles 2,345 - - 2,345 Depreciation expense 11,879 159 - 12,038 Other operating expenses 285,386 17,944 (625) 302,705 Income tax benefit (12,821) (7,360) 215 (19,966) Net income (loss) $ 38,248 $ (17,938) $ 354 $ 20,664 Segment assets $ 42,330,871 $ 5,003,304 $ (4,732,908) $ 42,601,267 For the nine months ended September 30, 2017 Banco Popular Banco Popular Intersegment (In thousands) de Puerto Rico North America Eliminations Net interest income $ 951,024 $ 208,274 $ (207) Provision for loan losses 198,668 60,915 - Non-interest income 290,042 15,259 (431) Amortization of intangibles 6,535 499 - Depreciation expense 29,296 6,191 - Other operating expenses 713,594 123,940 (414) Income tax expense 56,946 13,202 (93) Net income $ 236,027 $ 18,786 $ (131) Segment assets $ 33,031,839 $ 9,323,647 $ (24,615) For the nine months ended September 30, 2017 Reportable (In thousands) Segments Corporate Eliminations Total Popular, Inc. Net interest income (expense) $ 1,159,091 $ (44,343) $ - $ 1,114,748 Provision for loan losses 259,583 308 (5,955) 253,936 Non-interest income 304,870 29,616 (1,450) 333,036 Amortization of intangibles 7,034 - - 7,034 Depreciation expense 35,487 479 - 35,966 Other operating expenses 837,120 57,145 (2,024) 892,241 Income tax expense (benefit) 70,055 (23,819) 2,536 48,772 Net income (loss) $ 254,682 $ (48,840) $ 3,993 $ 209,835 Segment assets $ 42,330,871 $ 5,003,304 $ (4,732,908) $ 42,601,267 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 (reversal) 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) 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 2017 For the quarter ended September 30, 2017 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 $ 132,101 $ 186,827 $ 2,213 $ 4 $ 321,145 Provision for loan losses 27,647 90,530 - - 118,177 Non-interest income 19,733 46,022 22,473 (58) 88,170 Amortization of intangibles 54 1,066 1,058 - 2,178 Depreciation expense 4,386 5,207 158 - 9,751 Other operating expenses 61,843 164,981 16,809 (69) 243,564 Income tax (benefit) expense 11,925 (22,811) 2,182 - (8,704) Net income (loss) $ 45,979 $ (6,124) $ 4,479 $ 15 $ 44,349 Segment assets $ 21,258,790 $ 18,501,519 $ 522,008 $ (7,250,478) $ 33,031,839 For the nine months ended September 30, 2017 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 $ 380,761 $ 564,956 $ 5,295 $ 12 $ 951,024 Provision for loan losses 27,970 170,698 - - 198,668 Non-interest income 60,496 162,613 67,130 (197) 290,042 Amortization of intangibles 158 3,206 3,171 - 6,535 Depreciation expense 12,994 15,759 543 - 29,296 Other operating expenses 177,278 492,939 43,606 (229) 713,594 Income tax expense (benefit) 60,780 (12,760) 8,926 - 56,946 Net income $ 162,077 $ 57,727 $ 16,179 $ 44 $ 236,027 Segment assets $ 21,258,790 $ 18,501,519 $ 522,008 $ (7,250,478) $ 33,031,839 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 (expense) 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 |
Schedule Of Revenues And Selected Balance Sheet Information By Geographic Area Table [TextBlock] | Geographic Information Quarter ended Nine months ended (in thousands) September 30, 2017 September 30, 2016 September 30, 2017 September 30, 2016 Revenues: Puerto Rico $ 378,790 $ 333,006 $ 1,157,324 $ 1,097,944 United States 81,652 77,816 234,778 209,999 Other 18,103 18,843 55,682 56,818 Total consolidated revenues $ 478,545 $ 429,665 $ 1,447,784 $ 1,364,761 Selected Balance Sheet Information: (In thousands) September 30, 2017 December 31, 2016 Puerto Rico Total assets $ 31,901,778 $ 28,813,289 Loans 16,589,392 16,880,868 Deposits 26,729,468 23,185,551 United States Total assets $ 9,788,336 $ 8,928,475 Loans 6,433,673 5,799,562 Deposits 6,508,324 6,266,473 Other Total assets $ 911,153 $ 919,845 Loans 744,103 755,017 Deposits [1] 1,011,144 1,044,200 [1] Represents deposits from BPPR operations located in the U.S. and British Virgin Islands. |
Condensed consolidating finan73
Condensed consolidating financial information of guarantor and issuers of registered guaranteed securities (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Table Text Block | |
Schedule of Condensed Balance Sheet [Table Text Block] | Condensed Consolidating Statement of Financial Condition (Unaudited) At September 30, 2017 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 $ 44,155 $ 462 $ 517,440 $ (44,620) $ 517,437 Money market investments 238,696 2,771 5,487,783 (241,038) 5,488,212 Trading account securities, at fair value 3,600 - 42,459 (108) 45,951 Investment securities available-for-sale, at fair value - - 9,061,001 - 9,061,001 Investment securities held-to-maturity, at amortized cost - - 93,438 - 93,438 Other investment securities, at lower of cost or realizable value 9,850 4,492 159,623 - 173,965 Investment in subsidiaries 5,673,204 1,825,240 - (7,498,444) - Loans held-for-sale, at lower of cost or fair value - - 68,864 - 68,864 Loans held-in-portfolio: Loans not covered under loss-sharing agreements with the FDIC 32,877 - 23,263,215 5,955 23,302,047 Loans covered under loss-sharing agreements with the FDIC - - 524,854 - 524,854 Less - Unearned income - - 128,597 - 128,597 Allowance for loan losses 311 - 646,602 - 646,913 Total loans held-in-portfolio, net 32,566 - 23,012,870 5,955 23,051,391 FDIC loss-share asset - - 48,470 - 48,470 Premises and equipment, net 3,174 - 529,358 - 532,532 Other real estate not covered under loss- sharing agreements with the FDIC - - 176,728 - 176,728 Other real estate covered under loss- sharing agreements with the FDIC - - 21,545 - 21,545 Accrued income receivable 227 31 146,157 (76) 146,339 Mortgage servicing assets, at fair value - - 180,157 - 180,157 Other assets 70,896 28,490 2,256,415 (25,874) 2,329,927 Goodwill - - 627,294 - 627,294 Other intangible assets 6,114 - 31,902 - 38,016 Total assets $ 6,082,482 $ 1,861,486 $ 42,461,504 $ (7,804,205) $ 42,601,267 Liabilities and Stockholders' Equity Liabilities: Deposits: Non-interest bearing $ - $ - $ 7,494,477 $ (44,620) $ 7,449,857 Interest bearing - - 27,040,117 (241,038) 26,799,079 Total deposits - - 34,534,594 (285,658) 34,248,936 Assets sold under agreements to repurchase - - 374,405 - 374,405 Other short-term borrowings - - 240,598 - 240,598 Notes payable 737,163 148,532 646,366 - 1,532,061 Other liabilities 59,799 2,589 881,605 (24,157) 919,836 Total liabilities 796,962 151,121 36,677,568 (309,815) 37,315,836 Stockholders' equity: Preferred stock 50,160 - - - 50,160 Common stock 1,042 2 56,307 (56,309) 1,042 Surplus 4,256,526 4,100,807 5,700,621 (9,792,901) 4,265,053 Retained earnings (accumulated deficit) 1,359,257 (2,372,062) 316,220 2,047,315 1,350,730 Treasury stock, at cost (90,133) - - (89) (90,222) Accumulated other comprehensive loss, net of tax (291,332) (18,382) (289,212) 307,594 (291,332) Total stockholders' equity 5,285,520 1,710,365 5,783,936 (7,494,390) 5,285,431 Total liabilities and stockholders' equity $ 6,082,482 $ 1,861,486 $ 42,461,504 $ (7,804,205) $ 42,601,267 Condensed Consolidating Statement of Financial Condition (Unaudited) At December 31, 2016 All other Popular, Inc. PNA subsidiaries and Elimination Popular, Inc. (In thousands) Holding Co. Holding Co. eliminations entries Consolidated Assets: Cash and due from banks $ 47,783 $ 591 $ 362,101 $ (48,081) $ 362,394 Money market investments 252,347 13,263 2,891,670 (267,063) 2,890,217 Trading account securities, at fair value 2,640 - 57,297 (132) 59,805 Investment securities available-for-sale, at fair value - - 8,209,806 - 8,209,806 Investment securities held-to-maturity, at amortized cost - - 98,101 - 98,101 Other investment securities, at lower of cost or realizable value 9,850 4,492 153,476 - 167,818 Investment in subsidiaries 5,609,611 1,818,127 - (7,427,738) - Loans held-for-sale, at lower of cost or fair value - - 88,821 - 88,821 Loans held-in-portfolio: Loans not covered under loss-sharing agreements with the FDIC 1,142 - 22,894,030 - 22,895,172 Loans covered under loss-sharing agreements with the FDIC - - 572,878 - 572,878 Less - Unearned income - - 121,425 - 121,425 Allowance for loan losses 2 - 540,649 - 540,651 Total loans held-in-portfolio, net 1,140 - 22,804,834 - 22,805,974 FDIC loss-share asset - - 69,334 - 69,334 Premises and equipment, net 3,067 - 540,914 - 543,981 Other real estate not covered under loss-sharing agreements with the FDIC 81 - 180,364 - 180,445 Other real estate covered under loss-sharing agreements with the FDIC - - 32,128 - 32,128 Accrued income receivable 112 138 137,882 (90) 138,042 Mortgage servicing assets, at fair value - - 196,889 - 196,889 Other assets 61,770 25,146 2,073,562 (14,968) 2,145,510 Goodwill - - 627,294 - 627,294 Other intangible assets 553 - 44,497 - 45,050 Total assets $ 5,988,954 $ 1,861,757 $ 38,568,970 $ (7,758,072) $ 38,661,609 Liabilities and Stockholders' Equity Liabilities: Deposits: Non-interest bearing $ - $ - $ 7,028,524 $ (48,081) $ 6,980,443 Interest bearing - - 23,782,844 (267,063) 23,515,781 Total deposits - - 30,811,368 (315,144) 30,496,224 Assets sold under agreements to repurchase - - 479,425 - 479,425 Other short-term borrowings - - 1,200 - 1,200 Notes payable 735,600 148,512 690,740 - 1,574,852 Other liabilities 55,309 6,034 865,861 (15,253) 911,951 Total liabilities 790,909 154,546 32,848,594 (330,397) 33,463,652 Stockholders' equity: Preferred stock 50,160 - - - 50,160 Common stock 1,040 2 56,307 (56,309) 1,040 Surplus 4,246,495 4,111,207 5,717,066 (9,819,746) 4,255,022 Retained earnings (accumulated deficit) 1,228,834 (2,382,049) 264,944 2,108,578 1,220,307 Treasury stock, at cost (8,198) - - (88) (8,286) Accumulated other comprehensive loss, net of tax (320,286) (21,949) (317,941) 339,890 (320,286) Total stockholders' equity 5,198,045 1,707,211 5,720,376 (7,427,675) 5,197,957 Total liabilities and stockholders' equity $ 5,988,954 $ 1,861,757 $ 38,568,970 $ (7,758,072) $ 38,661,609 |
Schedule of Condensed Income Statement [Table Text Block] | Condensed Consolidating Statement of Operations (Unaudited) Quarter ended September 30, 2017 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 $ 27,500 $ - $ - $ (27,500) $ - Loans 405 - 371,574 - 371,979 Money market investments 730 13 15,529 (743) 15,529 Investment securities 142 81 47,053 - 47,276 Trading account securities - - 1,099 - 1,099 Total interest and dividend income 28,777 94 435,255 (28,243) 435,883 Interest expense: Deposits - - 37,801 (743) 37,058 Short-term borrowings - - 1,524 - 1,524 Long-term debt 13,118 2,693 3,319 - 19,130 Total interest expense 13,118 2,693 42,644 (743) 57,712 Net interest income (expense) 15,659 (2,599) 392,611 (27,500) 378,171 Provision for loan losses- non-covered loans 40 - 157,619 - 157,659 Provision for loan losses- covered loans - - 3,100 - 3,100 Net interest income (expense) after provision for loan losses 15,619 (2,599) 231,892 (27,500) 217,412 Service charges on deposit accounts - - 39,273 - 39,273 Other service fees - - 53,551 (70) 53,481 Mortgage banking activities - - 5,239 - 5,239 Net gain on sale of investment securities - - 103 - 103 Trading account profit 137 - 98 18 253 Net loss on sale of loans, including valuation adjustments on loans held-for-sale - - (420) - (420) Adjustments (expense) to indemnity reserves on loans sold - - (6,406) - (6,406) FDIC loss-share expense - - (3,948) - (3,948) Other operating income 1,564 31 11,208 (4) 12,799 Total non-interest income 1,701 31 98,698 (56) 100,374 Operating expenses: Personnel costs 11,438 - 108,198 - 119,636 Net occupancy expenses 976 - 21,278 - 22,254 Equipment expenses 885 1 15,571 - 16,457 Other taxes 55 - 10,803 - 10,858 Professional fees 2,555 18 68,269 (70) 70,772 Communications 125 - 5,269 - 5,394 Business promotion 454 - 14,762 - 15,216 FDIC deposit insurance - - 6,271 - 6,271 Other real estate owned (OREO) expenses 42 - 11,682 - 11,724 Other operating expenses (17,572) 13 54,275 (555) 36,161 Amortization of intangibles - - 2,345 - 2,345 Total operating expenses (1,042) 32 318,723 (625) 317,088 Income (loss) before income tax and equity in earnings (losses) of subsidiaries 18,362 (2,600) 11,867 (26,931) 698 Income tax benefit - (910) (19,271) 215 (19,966) Income (loss) before equity in earnings (losses) of subsidiaries 18,362 (1,690) 31,138 (27,146) 20,664 Equity in undistributed earnings (losses) of subsidiaries 2,302 (7,681) - 5,379 - Net Income (Loss) $ 20,664 $ (9,371) $ 31,138 $ (21,767) $ 20,664 Comprehensive income (loss), net of tax $ 32,275 $ (7,732) $ 42,516 $ (34,784) $ 32,275 Condensed Consolidating Statement of Operations (Unaudited) Nine months ended September 30, 2017 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 $ 184,000 $ - $ - $ (184,000) $ - Loans 534 - 1,102,250 - 1,102,784 Money market investments 1,820 52 33,233 (1,872) 33,233 Investment securities 425 242 140,032 - 140,699 Trading account securities - - 3,895 - 3,895 Total interest and dividend income 186,779 294 1,279,410 (185,872) 1,280,611 Interest expense: Deposits - - 106,779 (1,872) 104,907 Short-term borrowings - - 3,734 - 3,734 Long-term debt 39,353 8,076 9,793 - 57,222 Total interest expense 39,353 8,076 120,306 (1,872) 165,863 Net interest income (expense) 147,426 (7,782) 1,159,104 (184,000) 1,114,748 Provision for loan losses- non-covered loans 309 - 255,327 (5,955) 249,681 Provision for loan losses- covered loans - - 4,255 - 4,255 Net interest income (expense) after provision for loan losses 147,117 (7,782) 899,522 (178,045) 860,812 Service charges on deposit accounts - - 119,882 - 119,882 Other service fees - - 170,282 (1,458) 168,824 Mortgage banking activities - - 27,349 - 27,349 Net gain on sale of investment securities - - 284 - 284 Other-than-temporary impairment losses on investment securities - - (8,299) - (8,299) Trading account profit (loss) 297 - (1,003) 26 (680) Net gain on sale of loans, including valuation adjustments on loans held-for-sale - - (420) - (420) Adjustments (expense) to indemnity reserves on loans sold - - (11,302) - (11,302) FDIC loss-share expense - - (12,680) - (12,680) Other operating income 10,739 1,256 38,101 (18) 50,078 Total non-interest income 11,036 1,256 322,194 (1,450) 333,036 Operating expenses: Personnel costs 37,226 - 326,832 - 364,058 Net occupancy expenses 2,925 - 62,370 - 65,295 Equipment expenses 1,952 1 46,724 - 48,677 Other taxes 147 - 32,420 - 32,567 Professional fees 8,743 (474) 205,047 (360) 212,956 Communications 407 - 16,835 - 17,242 Business promotion 1,413 - 38,745 - 40,158 FDIC deposit insurance - - 18,936 - 18,936 Other real estate owned (OREO) expenses 42 - 41,170 - 41,212 Other operating expenses (53,227) 39 141,958 (1,664) 87,106 Amortization of intangibles - - 7,034 - 7,034 Total operating expenses (372) (434) 938,071 (2,024) 935,241 Income (loss) before income tax and equity in earnings of subsidiaries 158,525 (6,092) 283,645 (177,471) 258,607 Income tax (benefit) expense - (2,132) 48,368 2,536 48,772 Income (loss) before equity in earnings of subsidiaries 158,525 (3,960) 235,277 (180,007) 209,835 Equity in undistributed earnings of subsidiaries 51,310 13,947 - (65,257) - Net Income $ 209,835 $ 9,987 $ 235,277 $ (245,264) $ 209,835 Comprehensive income, net of tax $ 238,789 $ 13,554 $ 264,006 $ (277,560) $ 238,789 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 gain 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 (loss) 9,070 (2,787) 40,255 (38) 46,500 Total non-interest income (expense) 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 |
Schedule of Condensed Cash Flow Statement [Table Text Block] | Condensed Consolidating Statement of Cash Flow s (Unaudited) Nine months ended September 30, 2017 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 $ 209,835 $ 9,987 $ 235,277 $ (245,264) $ 209,835 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Equity in earnings of subsidiaries, net of dividends or distributions (51,310) (13,947) - 65,257 - Provision for loan losses 309 - 253,627 - 253,936 Amortization of intangibles - - 7,034 - 7,034 Depreciation and amortization of premises and equipment 480 - 35,486 - 35,966 Net accretion of discounts and amortization of premiums and deferred fees 1,565 - (18,936) - (17,371) Impairment losses on long-lived assets - - 11,286 - 11,286 Other-than-temporary impairment on investment securities - - 8,299 - 8,299 Fair value adjustments on mortgage servicing rights - - 24,262 - 24,262 FDIC loss-share expense - - 12,680 - 12,680 Adjustments (expense) to indemnity reserves on loans sold - - 11,302 - 11,302 Earnings from investments under the equity method (10,728) (1,256) (15,366) - (27,350) Deferred income tax (benefit) expense - (2,132) 32,389 214 30,471 (Gain) loss on: Disposition of premises and equipment and other productive assets (17) - 5,035 - 5,018 Sale and valuation adjustments of investment securities - 21 (305) - (284) Sale of loans, including valuation adjustments on loans held for sale and mortgage banking activities - - (16,455) - (16,455) Sale of foreclosed assets, including write-downs 42 - 19,186 - 19,228 Acquisitions of loans held-for-sale - - (204,813) - (204,813) Proceeds from sale of loans held-for-sale - - 68,326 - 68,326 Net originations on loans held-for-sale - - (283,709) - (283,709) Net (increase) decrease in: Trading securities (961) - 499,826 (25) 498,840 Accrued income receivable (115) 107 (8,274) (15) (8,297) Other assets 1,331 45 (3,115) 15,193 13,454 Net (decrease) increase in: Interest payable (7,875) (2,685) 1,246 15 (9,299) Pension and other postretirement benefits obligations - - (13,760) - (13,760) Other liabilities 2,115 (760) 22,742 (8,919) 15,178 Total adjustments (65,164) (20,607) 447,993 71,720 433,942 Net cash provided by (used in) operating activities 144,671 (10,620) 683,270 (173,544) 643,777 Cash flows from investing activities: Net decrease (increase) in money market investments 13,651 10,491 (2,596,111) (26,025) (2,597,994) Purchases of investment securities: Available-for-sale - - (2,356,389) - (2,356,389) Other - - (23,822) - (23,822) Proceeds from calls, paydowns, maturities and redemptions of investment securities: Available-for-sale - - 1,225,915 - 1,225,915 Held-to-maturity - - 6,229 - 6,229 Proceeds from sale of investment securities: Available for sale - - 14,888 - 14,888 Other - - 17,675 - 17,675 Net repayments (disbursements) on loans 172 - (77,572) - (77,400) Proceeds from sale of loans - - 38,279 (37,864) 415 Acquisition of loan portfolios (31,909) - (454,076) 37,864 (448,121) Acquisition of trademark (5,560) - 5,560 - - Net payments from FDIC under loss-sharing agreements - - (11,520) - (11,520) Return of capital from equity method investments 500 - 8,056 - 8,556 Capital contribution to subsidiary (5,955) - 5,955 - - Return of capital from wholly-owned subsidiaries 22,400 10,400 40 (32,840) - Acquisition of premises and equipment (594) - (39,564) - (40,158) Proceeds from sale of: Premises and equipment and other productive assets 21 - 6,961 - 6,982 Foreclosed assets 39 - 85,666 - 85,705 Net cash (used in) provided by investing activities (7,235) 20,891 (4,143,830) (58,865) (4,189,039) Cash flows from financing activities: Net increase (decrease) in: Deposits - - 3,721,882 29,485 3,751,367 Assets sold under agreements to repurchase - - (105,020) - (105,020) Other short-term borrowings - - 239,398 - 239,398 Payments of notes payable - - (89,375) - (89,375) Proceeds from issuance of notes payable - - 45,000 - 45,000 Proceeds from issuance of common stock 5,515 - - - 5,515 Dividends paid to parent company - - (179,500) 179,500 - Dividends paid (69,162) - - - (69,162) Net payments for repurchase of common stock (75,661) - (1) - (75,662) Return of capital to parent company - (10,400) 10,400 - - Capital contribution from parent - - 5,955 (5,955) - Payments related to tax withholding for share-based compensation (1,756) - (32,840) 32,840 (1,756) Net cash (used in) provided by financing activities (141,064) (10,400) 3,615,899 235,870 3,700,305 Net (decrease) increase in cash and due from banks (3,628) (129) 155,339 3,461 155,043 Cash and due from banks at beginning of period 47,783 591 362,101 (48,081) 362,394 Cash and due from banks at end of period $ 44,155 $ 462 $ 517,440 $ (44,620) $ 517,437 During the nine months ended September 30, 2017 there have not been any cash flows associated with discontinued operations. 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 earnings of subsidiaries, net of dividends or distributions (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) increase 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 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, 2017 there have not been any cash flows associated with discontinued operations. |
Hurricanes Impact (Detail)
Hurricanes Impact (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Provision for Loan and Lease Losses | $ 253,936 | $ 128,651 | ||
Personnel costs | $ 119,636 | $ 121,224 | 364,058 | 365,023 |
Net occupancy expenses | 22,254 | 21,626 | 65,295 | 63,770 |
Business promotion | 15,216 | 12,726 | 40,158 | 37,541 |
Other real estate owned (O R E O) expenses | 11,724 | 11,295 | 41,212 | 33,416 |
Other operating expenses | 36,161 | 29,752 | 87,106 | 70,432 |
Total operating expenses | 317,088 | $ 323,672 | $ 935,241 | $ 934,764 |
Hurricanes | ||||
Provision for Loan and Lease Losses | 69,887 | |||
Personnel costs | 58 | |||
Net occupancy expenses | 468 | |||
Donations | 1,123 | |||
Other sponsorship and promotions expenses | 203 | |||
Business promotion | 1,326 | |||
Other real estate owned (O R E O) expenses | 2,685 | |||
Write-down of premises and equipment | 3,932 | |||
Other expenses | 1,033 | |||
Other operating expenses | 4,965 | |||
Total operating expenses | 9,502 | |||
Total expenses | $ 79,389 |
Hurricanes Impact (Parenthetica
Hurricanes Impact (Parenthetical) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Provision for Loan and Lease Losses | $ 253,936 | $ 128,651 | ||
Covered loans | ||||
Provision for Loan and Lease Losses | $ 3,100 | $ 750 | $ 4,255 | $ (1,551) |
Hurricanes | ||||
Provision for Loan and Lease Losses | 69,887 | |||
Hurricanes | Covered loans | ||||
Provision for Loan and Lease Losses | $ 3,500 |
Hurricanes Impact - Additional
Hurricanes Impact - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2017 | Sep. 30, 2016 | |
Hurricanes Impact [Line Items] | |||
Provision for Loan and Lease Losses | $ 253,936 | $ 128,651 | |
Hurricanes | |||
Hurricanes Impact [Line Items] | |||
Insurance recoveries | $ 7,500 | ||
Provision for Loan and Lease Losses | 69,887 | ||
Change Allowance For Loan Losses Recalibration And Enhancements Of The Enviromental Factors Adjustments | 57,900 | 57,900 | |
Expenses From Structural Damages Net Of Insurance Receivables | 6,600 | ||
Other Operating Expenses Net Of Insurance Receivable | $ 2,900 | ||
Increase Enviromental Factor Reserve | $64.3 million to $122.2 million | ||
Hurricanes | Maximum | |||
Hurricanes Impact [Line Items] | |||
Estimated Loan Losses Range | $ 160,000 | 160,000 | |
Hurricanes | Minimum | |||
Hurricanes Impact [Line Items] | |||
Estimated Loan Losses Range | 70,000 | $ 70,000 | |
Hurricanes | ASC Subtopic 310-30 | |||
Hurricanes Impact [Line Items] | |||
Provision for Loan and Lease Losses | $ 5,600 |
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, 2017 | Dec. 31, 2016 |
Disclosure - Restrictions on Cash and Due from Banks and Certain Securities - Additional Information [Abstract] | ||
Average Reserve Required With Federal Reserve Bank | $ 1,200 | $ 1,200 |
Restricted Cash And Cash Equivalents | $ 38 | $ 31 |
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, 2017 | Dec. 31, 2016 | ||
Schedule of Available-for-sale Securities [Line Items] | ||||
Investment securities available-for-sale, at fair value | $ 9,061,001 | [1] | $ 8,209,806 | [2] |
Gross Unrealized Gains | 37,936 | 43,379 | ||
Gross Unrealized Losses | 84,516 | 112,936 | ||
Amortized Cost | $ 9,107,581 | [1] | $ 8,279,363 | [2] |
Weighted Average Yield | 1.99% | 1.94% | ||
US Treasury Securities | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Investment securities available-for-sale, at fair value | $ 2,764,863 | $ 2,136,620 | ||
Gross Unrealized Gains | 1,279 | 1,468 | ||
Gross Unrealized Losses | 10,309 | 9,579 | ||
Amortized Cost | $ 2,773,893 | $ 2,144,731 | ||
Weighted Average Yield | 1.32% | 1.06% | ||
US Treasury Securities | Within 1 year | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Investment securities available-for-sale, at fair value | $ 593,480 | $ 845,228 | ||
Gross Unrealized Gains | 3 | 1,254 | ||
Gross Unrealized Losses | 863 | 28 | ||
Amortized Cost | $ 594,340 | $ 844,002 | ||
Weighted Average Yield | 1.01% | 1.00% | ||
US Treasury Securities | After 1 and within 5 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Investment securities available-for-sale, at fair value | $ 2,171,383 | $ 1,291,392 | ||
Gross Unrealized Gains | 1,276 | 214 | ||
Gross Unrealized Losses | 9,446 | 9,551 | ||
Amortized Cost | $ 2,179,553 | $ 1,300,729 | ||
Weighted Average Yield | 1.41% | 1.11% | ||
Obligations of U.S. Government sponsored entities | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Investment securities available-for-sale, at fair value | $ 611,646 | $ 711,850 | ||
Gross Unrealized Gains | 351 | 812 | ||
Gross Unrealized Losses | 1,894 | 2,505 | ||
Amortized Cost | $ 613,189 | $ 713,543 | ||
Weighted Average Yield | 1.38% | 1.32% | ||
Obligations of U.S. Government sponsored entities | Within 1 year | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Investment securities available-for-sale, at fair value | $ 204,016 | $ 100,152 | ||
Gross Unrealized Gains | 97 | 102 | ||
Gross Unrealized Losses | 282 | 0 | ||
Amortized Cost | $ 204,201 | $ 100,050 | ||
Weighted Average Yield | 1.22% | 0.98% | ||
Obligations of U.S. Government sponsored entities | After 1 and within 5 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Investment securities available-for-sale, at fair value | $ 407,630 | $ 611,498 | ||
Gross Unrealized Gains | 254 | 710 | ||
Gross Unrealized Losses | 1,612 | 2,505 | ||
Amortized Cost | $ 408,988 | $ 613,293 | ||
Weighted Average Yield | 1.46% | 1.38% | ||
Obligations of U.S. Government sponsored entities | After 5 to 10 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Investment securities available-for-sale, at fair value | $ 0 | $ 200 | ||
Gross Unrealized Gains | 0 | 0 | ||
Gross Unrealized Losses | 0 | 0 | ||
Amortized Cost | $ 0 | $ 200 | ||
Weighted Average Yield | 0.00% | 5.64% | ||
Obligations of Puerto Rico, States and political subdivisions | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Investment securities available-for-sale, at fair value | $ 6,615 | $ 22,771 | ||
Gross Unrealized Gains | 10 | 0 | ||
Gross Unrealized Losses | 0 | 6,253 | ||
Amortized Cost | $ 6,605 | $ 29,024 | ||
Weighted Average Yield | 2.49% | 5.60% | ||
Obligations of Puerto Rico, States and political subdivisions | After 1 and within 5 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Investment securities available-for-sale, at fair value | $ 6,615 | $ 6,258 | ||
Gross Unrealized Gains | 10 | 0 | ||
Gross Unrealized Losses | 0 | 161 | ||
Amortized Cost | $ 6,605 | $ 6,419 | ||
Weighted Average Yield | 2.49% | 2.89% | ||
Obligations of Puerto Rico, States and political subdivisions | After 5 to 10 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Investment securities available-for-sale, at fair value | $ 0 | $ 3,450 | ||
Gross Unrealized Gains | 0 | 0 | ||
Gross Unrealized Losses | 0 | 1,550 | ||
Amortized Cost | $ 0 | $ 5,000 | ||
Weighted Average Yield | 0.00% | 3.80% | ||
Obligations of Puerto Rico, States and political subdivisions | After 10 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Investment securities available-for-sale, at fair value | $ 0 | $ 13,063 | ||
Gross Unrealized Gains | 0 | 0 | ||
Gross Unrealized Losses | 0 | 4,542 | ||
Amortized Cost | $ 0 | $ 17,605 | ||
Weighted Average Yield | 0.00% | 7.09% | ||
Collateralized Mortgage Obligations - Federal agencies | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Investment securities available-for-sale, at fair value | $ 1,015,597 | $ 1,221,526 | ||
Gross Unrealized Gains | 4,698 | 7,170 | ||
Gross Unrealized Losses | 20,346 | 24,045 | ||
Amortized Cost | $ 1,031,245 | $ 1,238,401 | ||
Weighted Average Yield | 2.03% | 2.02% | ||
Collateralized Mortgage Obligations - Federal agencies | Within 1 year | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Investment securities available-for-sale, at fair value | $ 80 | $ 13 | ||
Gross Unrealized Gains | 0 | 0 | ||
Gross Unrealized Losses | 0 | 0 | ||
Amortized Cost | $ 80 | $ 13 | ||
Weighted Average Yield | 2.74% | 1.23% | ||
Collateralized Mortgage Obligations - Federal agencies | After 1 and within 5 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Investment securities available-for-sale, at fair value | $ 17,559 | $ 18,925 | ||
Gross Unrealized Gains | 273 | 429 | ||
Gross Unrealized Losses | 44 | 28 | ||
Amortized Cost | $ 17,330 | $ 18,524 | ||
Weighted Average Yield | 2.89% | 2.89% | ||
Collateralized Mortgage Obligations - Federal agencies | After 5 to 10 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Investment securities available-for-sale, at fair value | $ 39,375 | $ 39,545 | ||
Gross Unrealized Gains | 149 | 428 | ||
Gross Unrealized Losses | 320 | 61 | ||
Amortized Cost | $ 39,546 | $ 39,178 | ||
Weighted Average Yield | 2.33% | 2.68% | ||
Collateralized Mortgage Obligations - Federal agencies | After 10 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Investment securities available-for-sale, at fair value | $ 958,583 | $ 1,163,043 | ||
Gross Unrealized Gains | 4,276 | 6,313 | ||
Gross Unrealized Losses | 19,982 | 23,956 | ||
Amortized Cost | $ 974,289 | $ 1,180,686 | ||
Weighted Average Yield | 2.00% | 1.99% | ||
Mortgage Backed Securities | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Investment securities available-for-sale, at fair value | $ 4,659,526 | $ 4,105,332 | ||
Gross Unrealized Gains | 30,677 | 33,011 | ||
Gross Unrealized Losses | 51,967 | 70,554 | ||
Amortized Cost | $ 4,680,816 | $ 4,142,875 | ||
Weighted Average Yield | 2.45% | 2.46% | ||
Mortgage Backed Securities | Within 1 year | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Investment securities available-for-sale, at fair value | $ 756 | $ 56 | ||
Gross Unrealized Gains | 16 | 1 | ||
Gross Unrealized Losses | 0 | 0 | ||
Amortized Cost | $ 740 | $ 55 | ||
Weighted Average Yield | 4.39% | 4.76% | ||
Mortgage Backed Securities | After 1 and within 5 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Investment securities available-for-sale, at fair value | $ 14,827 | $ 20,454 | ||
Gross Unrealized Gains | 295 | 537 | ||
Gross Unrealized Losses | 189 | 43 | ||
Amortized Cost | $ 14,721 | $ 19,960 | ||
Weighted Average Yield | 3.70% | 3.86% | ||
Mortgage Backed Securities | After 5 to 10 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Investment securities available-for-sale, at fair value | $ 330,993 | $ 319,165 | ||
Gross Unrealized Gains | 3,117 | 3,701 | ||
Gross Unrealized Losses | 2,079 | 1,721 | ||
Amortized Cost | $ 329,955 | $ 317,185 | ||
Weighted Average Yield | 2.26% | 2.29% | ||
Mortgage Backed Securities | After 10 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Investment securities available-for-sale, at fair value | $ 4,312,950 | $ 3,765,657 | ||
Gross Unrealized Gains | 27,249 | 28,772 | ||
Gross Unrealized Losses | 49,699 | 68,790 | ||
Amortized Cost | $ 4,335,400 | $ 3,805,675 | ||
Weighted Average Yield | 2.46% | 2.47% | ||
Equity securities | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Investment securities available-for-sale, at fair value | $ 1,885 | $ 2,122 | ||
Gross Unrealized Gains | 900 | 876 | ||
Gross Unrealized Losses | 0 | 0 | ||
Amortized Cost | $ 985 | $ 1,246 | ||
Weighted Average Yield | 8.22% | 7.94% | ||
Other | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Investment securities available-for-sale, at fair value | $ 869 | $ 9,585 | ||
Gross Unrealized Gains | 21 | 42 | ||
Gross Unrealized Losses | 0 | 0 | ||
Amortized Cost | $ 848 | $ 9,543 | ||
Weighted Average Yield | 3.62% | 1.97% | ||
Other | Within 1 year | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Investment securities available-for-sale, at fair value | $ 0 | $ 8,550 | ||
Gross Unrealized Gains | 0 | 11 | ||
Gross Unrealized Losses | 0 | 0 | ||
Amortized Cost | $ 0 | $ 8,539 | ||
Weighted Average Yield | 0.00% | 1.78% | ||
Other | After 5 to 10 years | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Investment securities available-for-sale, at fair value | $ 869 | $ 1,035 | ||
Gross Unrealized Gains | 21 | 31 | ||
Gross Unrealized Losses | 0 | 0 | ||
Amortized Cost | $ 848 | $ 1,004 | ||
Weighted Average Yield | 3.62% | 3.62% | ||
[1] | Includes $6.7 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 $5.7 billion serve as collateral for public funds. | |||
[2] | Includes $4.1 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 $3.4 billion serve as collateral for public funds. |
Note Investment Securities Av79
Note Investment Securities Available for Sale (Amortized cost, gross unrealized gains and losses, approximate fair value, weighted average yield and contractual maturities of investment securities AFS) (Parenthetical) (Detail) - USD ($) $ in Millions | Sep. 30, 2017 | Dec. 31, 2016 |
Available For Sale Securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Pledged Financial Instruments, Not Separately Reported, Securities | $ 6,700 | $ 4,100 |
Securities Investment | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Pledged Financial Instruments, Not Separately Reported, Securities for Other Debt Facilities | $ 5,700 | $ 3,400 |
Note Investment Securities Av80
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, 2017 | Dec. 31, 2016 | |
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months Fair Value | $ 6,099,123 | $ 5,641,750 |
Less than 12 months Gross Unrealized Losses | 61,694 | 90,451 |
12 months or more Fair Value | 763,765 | 373,987 |
12 months or more Gross Unrealized Losses | 22,822 | 22,485 |
Total Fair Value | 6,862,888 | 6,015,737 |
Total Gross Unrealized Losses | 84,516 | 112,936 |
US Treasury Securities | ||
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months Fair Value | 2,195,874 | 1,162,110 |
Less than 12 months Gross Unrealized Losses | 10,309 | 9,579 |
12 months or more Fair Value | 0 | 0 |
12 months or more Gross Unrealized Losses | 0 | 0 |
Total Fair Value | 2,195,874 | 1,162,110 |
Total Gross Unrealized Losses | 10,309 | 9,579 |
Obligations of U.S. Government sponsored entities | ||
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months Fair Value | 496,345 | 430,273 |
Less than 12 months Gross Unrealized Losses | 1,797 | 2,426 |
12 months or more Fair Value | 24,139 | 3,126 |
12 months or more Gross Unrealized Losses | 97 | 79 |
Total Fair Value | 520,484 | 433,399 |
Total Gross Unrealized Losses | 1,894 | 2,505 |
Obligations of Puerto Rico, States and political subdivisions | ||
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months Fair Value | 0 | 6,258 |
Less than 12 months Gross Unrealized Losses | 0 | 161 |
12 months or more Fair Value | 0 | 16,512 |
12 months or more Gross Unrealized Losses | 0 | 6,092 |
Total Fair Value | 0 | 22,770 |
Total Gross Unrealized Losses | 0 | 6,253 |
Collateralized Mortgage Obligations - Federal agencies | ||
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months Fair Value | 364,098 | 505,503 |
Less than 12 months Gross Unrealized Losses | 5,401 | 8,112 |
12 months or more Fair Value | 387,284 | 339,236 |
12 months or more Gross Unrealized Losses | 14,945 | 15,933 |
Total Fair Value | 751,382 | 844,739 |
Total Gross Unrealized Losses | 20,346 | 24,045 |
Mortgage Backed Securities | ||
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months Fair Value | 3,042,806 | 3,537,606 |
Less than 12 months Gross Unrealized Losses | 44,187 | 70,173 |
12 months or more Fair Value | 352,342 | 15,113 |
12 months or more Gross Unrealized Losses | 7,780 | 381 |
Total Fair Value | 3,395,148 | 3,552,719 |
Total Gross Unrealized Losses | $ 51,967 | $ 70,554 |
Note Investment Securities Av81
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, 2017 | Dec. 31, 2016 |
FNMA | ||
Investment Holdings [Line Items] | ||
Amortized Cost | $ 3,531,694 | $ 3,255,844 |
Fair Value | 3,502,711 | 3,211,443 |
Freddie Mac | ||
Investment Holdings [Line Items] | ||
Amortized Cost | 1,397,117 | 1,381,197 |
Fair Value | $ 1,383,523 | $ 1,361,933 |
Note Investment Securities Av82
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, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Schedule of Available-for-sale Securities [Line Items] | ||||
Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net | $ 0 | $ 0 | $ 8,299 | $ 209 |
Proceeds from sale of investment securities available for sale | 14,888 | 1,556 | ||
Net (loss) gain and valuation adjustments on investment securities | 103 | $ 349 | $ 284 | $ 1,932 |
COFINA | AFS Securities Sold [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Net (loss) gain and valuation adjustments on investment securities | $ 100 |
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, 2017 | Dec. 31, 2016 | ||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Investment securities held-to-maturity, fair value | $ 74,512 | [1] | $ 75,576 | [2] |
Gross Unrealized Gains | 3,664 | 1,372 | ||
Gross Unrealized Losses | 22,590 | 23,897 | ||
Amortized Cost | $ 93,438 | [1] | $ 98,101 | [2] |
Weighted Average Yield | 3.38% | 3.46% | ||
Obligations of Puerto Rico, States and political subdivisions | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Investment securities held-to-maturity, fair value | $ 73,460 | $ 73,540 | ||
Gross Unrealized Gains | 3,660 | 1,368 | ||
Gross Unrealized Losses | 22,569 | 23,855 | ||
Amortized Cost | $ 92,369 | $ 96,027 | ||
Weighted Average Yield | 3.39% | 3.49% | ||
Obligations of Puerto Rico, States and political subdivisions | Within 1 year | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Investment securities held-to-maturity, fair value | $ 1,460 | $ 1,865 | ||
Gross Unrealized Gains | 0 | 0 | ||
Gross Unrealized Losses | 1,835 | 1,240 | ||
Amortized Cost | $ 3,295 | $ 3,105 | ||
Weighted Average Yield | 5.97% | 5.90% | ||
Obligations of Puerto Rico, States and political subdivisions | After 1 and within 5 years | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Investment securities held-to-maturity, fair value | $ 8,343 | $ 8,583 | ||
Gross Unrealized Gains | 0 | 0 | ||
Gross Unrealized Losses | 7,142 | 5,957 | ||
Amortized Cost | $ 15,485 | $ 14,540 | ||
Weighted Average Yield | 6.05% | 6.02% | ||
Obligations of Puerto Rico, States and political subdivisions | After 5 to 10 years | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Investment securities held-to-maturity, fair value | $ 16,095 | $ 10,869 | ||
Gross Unrealized Gains | 0 | 0 | ||
Gross Unrealized Losses | 13,145 | 7,766 | ||
Amortized Cost | $ 29,240 | $ 18,635 | ||
Weighted Average Yield | 3.89% | 6.20% | ||
Obligations of Puerto Rico, States and political subdivisions | After 10 years | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Investment securities held-to-maturity, fair value | $ 47,562 | $ 52,223 | ||
Gross Unrealized Gains | 3,660 | 1,368 | ||
Gross Unrealized Losses | 447 | 8,892 | ||
Amortized Cost | $ 44,349 | $ 59,747 | ||
Weighted Average Yield | 1.94% | 1.91% | ||
Collateralized Mortgage Obligations - Federal agencies | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Investment securities held-to-maturity, fair value | $ 73 | $ 78 | ||
Gross Unrealized Gains | 4 | 4 | ||
Gross Unrealized Losses | 0 | 0 | ||
Amortized Cost | $ 69 | $ 74 | ||
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] | ||||
Investment securities held-to-maturity, fair value | $ 73 | $ 78 | ||
Gross Unrealized Gains | 4 | 4 | ||
Gross Unrealized Losses | 0 | 0 | ||
Amortized Cost | $ 69 | $ 74 | ||
Weighted Average Yield | 5.45% | 5.45% | ||
Other | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Investment securities held-to-maturity, fair value | $ 979 | $ 1,958 | ||
Gross Unrealized Gains | 0 | 0 | ||
Gross Unrealized Losses | 21 | 42 | ||
Amortized Cost | $ 1,000 | $ 2,000 | ||
Weighted Average Yield | 2.47% | 2.05% | ||
Other | Within 1 year | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Investment securities held-to-maturity, fair value | $ 487 | $ 997 | ||
Gross Unrealized Gains | 0 | 0 | ||
Gross Unrealized Losses | 13 | 3 | ||
Amortized Cost | $ 500 | $ 1,000 | ||
Weighted Average Yield | 1.96% | 1.65% | ||
Other | After 1 and within 5 years | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Investment securities held-to-maturity, fair value | $ 492 | $ 961 | ||
Gross Unrealized Gains | 0 | 0 | ||
Gross Unrealized Losses | 8 | 39 | ||
Amortized Cost | $ 500 | $ 1,000 | ||
Weighted Average Yield | 2.97% | 2.44% | ||
[1] | Includes $92.4 million pledged to secure public and trust deposits that the secured parties are not permitted to sell or repledge the collateral. | |||
[2] | Includes $53.1 million pledged to secure public and trust deposits that the secured parties are not permitted to sell or repledge the collateral. |
Note Investment Securities He84
Note Investment Securities Held-to-maturity (Amortized cost, gross unrealized gains and losses, approximate fair value, weighted average yield and contractual maturities of investment securities HTM) (Parenthetical) (Detail) - USD ($) $ in Millions | Sep. 30, 2017 | Dec. 31, 2016 |
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 | $ 92.4 | $ 53.1 |
Note Investment Securities He85
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, 2017 | Dec. 31, 2016 | |
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months Fair Value | $ 7,473 | $ 31,785 |
Less than 12 months Gross Unrealized Losses | 85 | 1,711 |
12 months or more Fair Value | 26,790 | 32,164 |
12 months or more Gross Unrealized Losses | 22,505 | 22,186 |
Total Fair Value | 34,263 | 63,949 |
Total Gross Unrealized Losses | 22,590 | 23,897 |
Obligations of Puerto Rico, States and political subdivisions | ||
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months Fair Value | 6,981 | 31,294 |
Less than 12 months Gross Unrealized Losses | 77 | 1,702 |
12 months or more Fair Value | 26,553 | 30,947 |
12 months or more Gross Unrealized Losses | 22,492 | 22,153 |
Total Fair Value | 33,534 | 62,241 |
Total Gross Unrealized Losses | 22,569 | 23,855 |
Other | ||
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months Fair Value | 492 | 491 |
Less than 12 months Gross Unrealized Losses | 8 | 9 |
12 months or more Fair Value | 237 | 1,217 |
12 months or more Gross Unrealized Losses | 13 | 33 |
Total Fair Value | 729 | 1,708 |
Total Gross Unrealized Losses | $ 21 | $ 42 |
Note Investment Securities He86
Note Investment Securities Held-to-maturity (Investments held-to-maturity-Additional Information) (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | ||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Amortized Cost | $ 93,438 | [1] | $ 98,101 | [2] |
Obligations of Puerto Rico, States and political subdivisions | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Amortized Cost | 92,369 | $ 96,027 | ||
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 | 49,000 | |||
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 $92.4 million pledged to secure public and trust deposits that the secured parties are not permitted to sell or repledge the collateral. | |||
[2] | Includes $53.1 million pledged to secure public and trust deposits that the secured parties are not permitted to sell or repledge the collateral. |
Note Loans (Loans by past due s
Note Loans (Loans by past due status for non-covered loans held-in-portfolio (Net of unearned income)) (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | $ 23,173,450 | [1],[2] | $ 22,773,747 | [3],[4] | |
Commercial multi-family | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 1,327,738 | 1,238,836 | |||
CRE non-owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 4,093,990 | 3,921,601 | |||
CRE owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 1,961,057 | 2,035,220 | |||
Commercial and industrial | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 3,844,310 | 3,602,850 | |||
Construction | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 823,325 | 776,300 | |||
Mortgages | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 6,529,235 | 6,696,361 | |||
Leasing | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 754,881 | 702,893 | |||
Legacy | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | [5] | 37,508 | 45,293 | ||
Consumer | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 3,801,406 | 3,754,393 | |||
Non Covered Loans | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 2,318,756 | 1,901,794 | |||
Current | 20,854,694 | 20,871,953 | |||
Loans held-in-portfolio | 23,173,450 | 22,773,747 | |||
Non Covered Loans | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 775,112 | 517,997 | |||
Non Covered Loans | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 300,127 | 184,502 | |||
Non Covered Loans | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 1,243,517 | 1,199,295 | |||
Non Covered Loans | Commercial multi-family | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 2,739 | 7,054 | |||
Current | 1,324,999 | 1,231,782 | |||
Loans held-in-portfolio | 1,327,738 | 1,238,836 | |||
Non Covered Loans | Commercial multi-family | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 1,522 | 6,184 | |||
Non Covered Loans | Commercial multi-family | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 157 | 0 | |||
Non Covered Loans | Commercial multi-family | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 1,060 | 870 | |||
Non Covered Loans | CRE non-owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 87,755 | 158,390 | |||
Current | 4,006,235 | 3,763,211 | |||
Loans held-in-portfolio | 4,093,990 | 3,921,601 | |||
Non Covered Loans | CRE non-owner occupied | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 39,076 | 100,596 | |||
Non Covered Loans | CRE non-owner occupied | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 11,371 | 5,164 | |||
Non Covered Loans | CRE non-owner occupied | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 37,308 | 52,630 | |||
Non Covered Loans | CRE owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 140,605 | 134,106 | |||
Current | 1,820,452 | 1,901,114 | |||
Loans held-in-portfolio | 1,961,057 | 2,035,220 | |||
Non Covered Loans | CRE owner occupied | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 28,633 | 15,083 | |||
Non Covered Loans | CRE owner occupied | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 8,107 | 5,554 | |||
Non Covered Loans | CRE owner occupied | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 103,865 | 113,469 | |||
Non Covered Loans | Commercial and industrial | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 150,640 | 156,768 | |||
Current | 3,693,670 | 3,446,082 | |||
Loans held-in-portfolio | 3,844,310 | 3,602,850 | |||
Non Covered Loans | Commercial and industrial | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 6,668 | 20,116 | |||
Non Covered Loans | Commercial and industrial | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 3,572 | 3,248 | |||
Non Covered Loans | Commercial and industrial | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 140,400 | 133,404 | |||
Non Covered Loans | Construction | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 5,512 | 1,668 | |||
Current | 817,813 | 774,632 | |||
Loans held-in-portfolio | 823,325 | 776,300 | |||
Non Covered Loans | Construction | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 5,243 | 0 | |||
Non Covered Loans | Construction | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 0 | 0 | |||
Non Covered Loans | Construction | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 269 | 1,668 | |||
Non Covered Loans | Mortgages | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 1,684,130 | 1,260,403 | |||
Current | 4,845,105 | 5,435,958 | |||
Loans held-in-portfolio | 6,529,235 | 6,696,361 | |||
Non Covered Loans | Mortgages | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 585,636 | 305,609 | |||
Non Covered Loans | Mortgages | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 227,839 | 141,830 | |||
Non Covered Loans | Mortgages | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 870,655 | 812,964 | |||
Non Covered Loans | Leasing | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 20,217 | 11,037 | |||
Current | 734,664 | 691,856 | |||
Loans held-in-portfolio | 754,881 | 702,893 | |||
Non Covered Loans | Leasing | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 12,990 | 6,619 | |||
Non Covered Loans | Leasing | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 4,543 | 1,356 | |||
Non Covered Loans | Leasing | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 2,684 | 3,062 | |||
Non Covered Loans | Legacy | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 3,654 | 4,516 | |||
Current | 33,854 | 40,777 | |||
Loans held-in-portfolio | 37,508 | 45,293 | |||
Non Covered Loans | Legacy | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 111 | 833 | |||
Non Covered Loans | Legacy | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 275 | 346 | |||
Non Covered Loans | Legacy | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 3,268 | 3,337 | |||
Non Covered Loans | Consumer | Credit cards | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 48,041 | 39,189 | |||
Current | 1,035,285 | 1,061,576 | |||
Loans held-in-portfolio | 1,083,326 | 1,100,765 | |||
Non Covered Loans | Consumer | Credit cards | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 17,533 | 11,654 | |||
Non Covered Loans | Consumer | Credit cards | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 9,869 | 8,780 | |||
Non Covered Loans | Consumer | Credit cards | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 20,639 | 18,755 | |||
Non Covered Loans | Consumer | Home equity lines of credit | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 20,807 | 8,975 | |||
Current | 182,135 | 251,551 | |||
Loans held-in-portfolio | 202,942 | 260,526 | |||
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 | 6,110 | 2,908 | |||
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 | 2,689 | 1,120 | |||
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 | 12,008 | 4,947 | |||
Non Covered Loans | Consumer | Personal | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 61,663 | 46,838 | |||
Current | 1,466,511 | 1,343,946 | |||
Loans held-in-portfolio | 1,528,174 | 1,390,784 | |||
Non Covered Loans | Consumer | Personal | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 26,684 | 14,695 | |||
Non Covered Loans | Consumer | Personal | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 12,390 | 9,593 | |||
Non Covered Loans | Consumer | Personal | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 22,589 | 22,550 | |||
Non Covered Loans | Consumer | Auto | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 75,523 | 51,978 | |||
Current | 746,484 | 774,623 | |||
Loans held-in-portfolio | 822,007 | 826,601 | |||
Non Covered Loans | Consumer | Auto | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 44,331 | 32,441 | |||
Non Covered Loans | Consumer | Auto | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 18,933 | 7,217 | |||
Non Covered Loans | Consumer | Auto | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 12,259 | 12,320 | |||
Non Covered Loans | Consumer | Other | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 17,470 | 20,872 | |||
Current | 147,487 | 154,845 | |||
Loans held-in-portfolio | 164,957 | 175,717 | |||
Non Covered Loans | Consumer | Other | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 575 | 1,259 | |||
Non Covered Loans | Consumer | Other | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 382 | 294 | |||
Non Covered Loans | Consumer | Other | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 16,513 | 19,319 | |||
PUERTO RICO | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | [6] | 17,118,072 | 17,168,424 | ||
PUERTO RICO | Commercial multi-family | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | [6] | 146,551 | 174,540 | ||
PUERTO RICO | CRE non-owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | [6] | 2,524,795 | 2,564,285 | ||
PUERTO RICO | CRE owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | [6] | 1,672,273 | 1,791,475 | ||
PUERTO RICO | Commercial and industrial | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | [6] | 2,825,992 | 2,671,917 | ||
PUERTO RICO | Construction | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 87,705 | 85,558 | |||
PUERTO RICO | Mortgages | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | [6] | 5,815,505 | 5,916,500 | ||
PUERTO RICO | Leasing | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | [6] | 754,881 | 702,893 | ||
PUERTO RICO | Consumer | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | [6] | 3,290,370 | 3,261,256 | ||
PUERTO RICO | Non Covered Loans | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 2,152,920 | 1,733,755 | |||
Current | 14,965,152 | 15,434,669 | |||
Loans held-in-portfolio | 17,118,072 | 17,168,424 | |||
PUERTO RICO | Non Covered Loans | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 752,457 | 484,707 | |||
PUERTO RICO | Non Covered Loans | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 286,866 | 174,597 | |||
PUERTO RICO | Non Covered Loans | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 1,113,597 | 1,074,451 | |||
PUERTO RICO | Non Covered Loans | Commercial multi-family | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 1,325 | 896 | |||
Current | 145,226 | 173,644 | |||
Loans held-in-portfolio | 146,551 | 174,540 | |||
PUERTO RICO | Non Covered Loans | Commercial multi-family | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 108 | 232 | |||
PUERTO RICO | Non Covered Loans | Commercial multi-family | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 157 | 0 | |||
PUERTO RICO | Non Covered Loans | Commercial multi-family | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 1,060 | 664 | |||
PUERTO RICO | Non Covered Loans | CRE non-owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 83,881 | 154,824 | |||
Current | 2,440,914 | 2,409,461 | |||
Loans held-in-portfolio | 2,524,795 | 2,564,285 | |||
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 | 39,076 | 98,604 | |||
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 | 10,571 | 4,785 | |||
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 | 34,234 | 51,435 | |||
PUERTO RICO | Non Covered Loans | CRE owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 135,769 | 130,978 | |||
Current | 1,536,504 | 1,660,497 | |||
Loans held-in-portfolio | 1,672,273 | 1,791,475 | |||
PUERTO RICO | Non Covered Loans | CRE owner occupied | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 24,283 | 12,967 | |||
PUERTO RICO | Non Covered Loans | CRE owner occupied | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 8,107 | 5,014 | |||
PUERTO RICO | Non Covered Loans | CRE owner occupied | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 103,379 | 112,997 | |||
PUERTO RICO | Non Covered Loans | Commercial and industrial | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 53,507 | 53,941 | |||
Current | 2,772,485 | 2,617,976 | |||
Loans held-in-portfolio | 2,825,992 | 2,671,917 | |||
PUERTO RICO | Non Covered Loans | Commercial and industrial | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 5,708 | 19,156 | |||
PUERTO RICO | Non Covered Loans | Commercial and industrial | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 1,806 | 2,638 | |||
PUERTO RICO | Non Covered Loans | Commercial and industrial | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 45,993 | 32,147 | |||
PUERTO RICO | Non Covered Loans | Construction | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 269 | 1,668 | |||
Current | 87,436 | 83,890 | |||
Loans held-in-portfolio | 87,705 | 85,558 | |||
PUERTO RICO | Non Covered Loans | Construction | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 0 | 0 | |||
PUERTO RICO | Non Covered Loans | Construction | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 0 | 0 | |||
PUERTO RICO | Non Covered Loans | Construction | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 269 | 1,668 | |||
PUERTO RICO | Non Covered Loans | Mortgages | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 1,661,336 | 1,227,444 | |||
Current | 4,154,169 | 4,689,056 | |||
Loans held-in-portfolio | 5,815,505 | 5,916,500 | |||
PUERTO RICO | Non Covered Loans | Mortgages | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 583,383 | 289,635 | |||
PUERTO RICO | Non Covered Loans | Mortgages | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 221,646 | 136,558 | |||
PUERTO RICO | Non Covered Loans | Mortgages | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 856,307 | 801,251 | |||
PUERTO RICO | Non Covered Loans | Leasing | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 20,217 | 11,037 | |||
Current | 734,664 | 691,856 | |||
Loans held-in-portfolio | 754,881 | 702,893 | |||
PUERTO RICO | Non Covered Loans | Leasing | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 12,990 | 6,619 | |||
PUERTO RICO | Non Covered Loans | Leasing | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 4,543 | 1,356 | |||
PUERTO RICO | Non Covered Loans | Leasing | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 2,684 | 3,062 | |||
PUERTO RICO | Non Covered Loans | Consumer | Credit cards | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 48,012 | 39,123 | |||
Current | 1,035,234 | 1,061,484 | |||
Loans held-in-portfolio | 1,083,246 | 1,100,607 | |||
PUERTO RICO | Non Covered Loans | Consumer | Credit cards | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 17,523 | 11,646 | |||
PUERTO RICO | Non Covered Loans | Consumer | Credit cards | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 9,863 | 8,752 | |||
PUERTO RICO | Non Covered Loans | Consumer | Credit cards | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 20,626 | 18,725 | |||
PUERTO RICO | Non Covered Loans | Consumer | Home equity lines of credit | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 408 | 250 | |||
Current | 5,716 | 8,101 | |||
Loans held-in-portfolio | 6,124 | 8,351 | |||
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 | 117 | 0 | |||
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 | 243 | 65 | |||
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 | 48 | 185 | |||
PUERTO RICO | Non Covered Loans | Consumer | Personal | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 55,250 | 40,752 | |||
Current | 1,159,081 | 1,109,425 | |||
Loans held-in-portfolio | 1,214,331 | 1,150,177 | |||
PUERTO RICO | Non Covered Loans | Consumer | Personal | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 24,363 | 12,148 | |||
PUERTO RICO | Non Covered Loans | Consumer | Personal | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 10,640 | 7,918 | |||
PUERTO RICO | Non Covered Loans | Consumer | Personal | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 20,247 | 20,686 | |||
PUERTO RICO | Non Covered Loans | Consumer | Auto | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 75,523 | 51,978 | |||
Current | 746,481 | 774,614 | |||
Loans held-in-portfolio | 822,004 | 826,592 | |||
PUERTO RICO | Non Covered Loans | Consumer | Auto | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 44,331 | 32,441 | |||
PUERTO RICO | Non Covered Loans | Consumer | Auto | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 18,933 | 7,217 | |||
PUERTO RICO | Non Covered Loans | Consumer | Auto | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 12,259 | 12,320 | |||
PUERTO RICO | Non Covered Loans | Consumer | Other | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 17,423 | 20,864 | |||
Current | 147,242 | 154,665 | |||
Loans held-in-portfolio | 164,665 | 175,529 | |||
PUERTO RICO | Non Covered Loans | Consumer | Other | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 575 | 1,259 | |||
PUERTO RICO | Non Covered Loans | Consumer | Other | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 357 | 294 | |||
PUERTO RICO | Non Covered Loans | Consumer | Other | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 16,491 | 19,311 | |||
UNITED STATES | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 6,055,378 | 5,605,323 | |||
UNITED STATES | Commercial multi-family | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 1,181,187 | 1,064,296 | |||
UNITED STATES | CRE non-owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 1,569,195 | 1,357,316 | |||
UNITED STATES | CRE owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 288,784 | 243,745 | |||
UNITED STATES | Commercial and industrial | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 1,018,318 | 930,933 | |||
UNITED STATES | Construction | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 735,620 | 690,742 | |||
UNITED STATES | Mortgages | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 713,730 | 779,861 | |||
UNITED STATES | Legacy | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 37,508 | 45,293 | |||
UNITED STATES | Consumer | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans held-in-portfolio | 511,036 | 493,137 | |||
UNITED STATES | Non Covered Loans | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 165,836 | 168,039 | |||
Current | 5,889,542 | 5,437,284 | |||
Loans held-in-portfolio | 6,055,378 | 5,605,323 | |||
UNITED STATES | Non Covered Loans | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 22,655 | 33,290 | |||
UNITED STATES | Non Covered Loans | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 13,261 | 9,905 | |||
UNITED STATES | Non Covered Loans | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 129,920 | 124,844 | |||
UNITED STATES | Non Covered Loans | Commercial multi-family | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 1,414 | 6,158 | |||
Current | 1,179,773 | 1,058,138 | |||
Loans held-in-portfolio | 1,181,187 | 1,064,296 | |||
UNITED STATES | Non Covered Loans | Commercial multi-family | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 1,414 | 5,952 | |||
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 | 0 | |||
UNITED STATES | Non Covered Loans | Commercial multi-family | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 0 | 206 | |||
UNITED STATES | Non Covered Loans | CRE non-owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 3,874 | 3,566 | |||
Current | 1,565,321 | 1,353,750 | |||
Loans held-in-portfolio | 1,569,195 | 1,357,316 | |||
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 | 1,992 | |||
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 | 800 | 379 | |||
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 | 3,074 | 1,195 | |||
UNITED STATES | Non Covered Loans | CRE owner occupied | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 4,836 | 3,128 | |||
Current | 283,948 | 240,617 | |||
Loans held-in-portfolio | 288,784 | 243,745 | |||
UNITED STATES | Non Covered Loans | CRE owner occupied | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 4,350 | 2,116 | |||
UNITED STATES | Non Covered Loans | CRE owner occupied | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 0 | 540 | |||
UNITED STATES | Non Covered Loans | CRE owner occupied | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 486 | 472 | |||
UNITED STATES | Non Covered Loans | Commercial and industrial | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 97,133 | 102,827 | |||
Current | 921,185 | 828,106 | |||
Loans held-in-portfolio | 1,018,318 | 930,933 | |||
UNITED STATES | Non Covered Loans | Commercial and industrial | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 960 | 960 | |||
UNITED STATES | Non Covered Loans | Commercial and industrial | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 1,766 | 610 | |||
UNITED STATES | Non Covered Loans | Commercial and industrial | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 94,407 | 101,257 | |||
UNITED STATES | Non Covered Loans | Construction | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 5,243 | 0 | |||
Current | 730,377 | 690,742 | |||
Loans held-in-portfolio | 735,620 | 690,742 | |||
UNITED STATES | Non Covered Loans | Construction | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 5,243 | 0 | |||
UNITED STATES | Non Covered Loans | Construction | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 0 | 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 | 22,794 | 32,959 | |||
Current | 690,936 | 746,902 | |||
Loans held-in-portfolio | 713,730 | 779,861 | |||
UNITED STATES | Non Covered Loans | Mortgages | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 2,253 | 15,974 | |||
UNITED STATES | Non Covered Loans | Mortgages | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 6,193 | 5,272 | |||
UNITED STATES | Non Covered Loans | Mortgages | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 14,348 | 11,713 | |||
UNITED STATES | Non Covered Loans | Legacy | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 3,654 | 4,516 | |||
Current | 33,854 | 40,777 | |||
Loans held-in-portfolio | 37,508 | 45,293 | |||
UNITED STATES | Non Covered Loans | Legacy | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 111 | 833 | |||
UNITED STATES | Non Covered Loans | Legacy | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 275 | 346 | |||
UNITED STATES | Non Covered Loans | Legacy | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 3,268 | 3,337 | |||
UNITED STATES | Non Covered Loans | Consumer | Credit cards | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 29 | 66 | |||
Current | 51 | 92 | |||
Loans held-in-portfolio | 80 | 158 | |||
UNITED STATES | Non Covered Loans | Consumer | Credit cards | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 10 | 8 | |||
UNITED STATES | Non Covered Loans | Consumer | Credit cards | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 6 | 28 | |||
UNITED STATES | Non Covered Loans | Consumer | Credit cards | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 13 | 30 | |||
UNITED STATES | Non Covered Loans | Consumer | Home equity lines of credit | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 20,399 | 8,725 | |||
Current | 176,419 | 243,450 | |||
Loans held-in-portfolio | 196,818 | 252,175 | |||
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 | 5,993 | 2,908 | |||
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 | 2,446 | 1,055 | |||
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 | 11,960 | 4,762 | |||
UNITED STATES | Non Covered Loans | Consumer | Personal | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 6,413 | 6,086 | |||
Current | 307,430 | 234,521 | |||
Loans held-in-portfolio | 313,843 | 240,607 | |||
UNITED STATES | Non Covered Loans | Consumer | Personal | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 2,321 | 2,547 | |||
UNITED STATES | Non Covered Loans | Consumer | Personal | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 1,750 | 1,675 | |||
UNITED STATES | Non Covered Loans | Consumer | Personal | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 2,342 | 1,864 | |||
UNITED STATES | Non Covered Loans | Consumer | Auto | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 0 | 0 | |||
Current | 3 | 9 | |||
Loans held-in-portfolio | 3 | 9 | |||
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 | 0 | |||
UNITED STATES | Non Covered Loans | Consumer | Other | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 47 | 8 | |||
Current | 245 | 180 | |||
Loans held-in-portfolio | 292 | 188 | |||
UNITED STATES | Non Covered Loans | Consumer | Other | Past Due 30 To 59 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 0 | 0 | |||
UNITED STATES | Non Covered Loans | Consumer | Other | Past Due 60 To 89 Days | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | 25 | 0 | |||
UNITED STATES | Non Covered Loans | Consumer | Other | Past Due 90 Days or More | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Past Due | $ 22 | $ 8 | |||
[1] | 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 $4.7 billion were pledged at the Federal Home Loan Bank ("FHLB") as collateral for borrowings, $2.2 billion at the Federal Reserve Bank ("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 $129 million in unearned income and exclude $69 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 $4.5 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. | ||||
[4] | Non-covered loans held-in-portfolio are net of $121 million in unearned income and exclude $89 million in loans held-for-sale. | ||||
[5] | The legacy portfolio is comprised of commercial loans, construction loans and lease financings related to certain lending products exited by the Corporation as part of restructuring efforts carried out in prior years at the BPNA segment. | ||||
[6] | Excludes covered loans acquired in the Westernbank FDIC-assisted transaction. |
Note Loans (Loans by past due88
Note Loans (Loans by past due status for non-covered loans held-in-portfolio (Net of unearned income)) (Parenthetical) (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans held-in-portfolio, unearned income | $ 128,597 | $ 121,425 |
Loans held-for-sale, at lower of cost or fair value | 68,864 | 88,821 |
Loans Held for Investment | Non Covered Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Pledged Financial Instruments, Not Separately Reported, Loans Receivable Pledged as Collateral | 7,300,000 | 7,300,000 |
Loans-held-in portfolio served as collateral to secure credit facilities authorized with the FHLB | 4,600,000 | 4,500,000 |
Loans Held for Investment | Non Covered Loans | FRB Discount Window | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans served as collateral to secure debt obligations | 2,200,000 | 2,300,000 |
Loans Held for Investment | Non Covered Loans | Public Funds | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
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, 2017 | Dec. 31, 2016 | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | $ 585,928 | [1] | $ 557,915 | [2] |
Accruing loans past-due 90 days or more | 465,127 | 426,652 | ||
Commercial multi-family | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 1,060 | 870 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
CRE non-owner occupied | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 26,102 | 25,806 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
CRE owner occupied | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 90,832 | 103,243 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
Commercial and industrial | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 47,358 | 33,429 | ||
Accruing loans past-due 90 days or more | 384 | 538 | ||
Construction | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 99 | |||
Accruing loans past-due 90 days or more | 0 | |||
Mortgages | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 352,315 | [3],[4] | 329,907 | [5],[6] |
Accruing loans past-due 90 days or more | 443,377 | [3],[4] | 406,583 | [5],[6] |
Leasing | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 2,684 | 3,062 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
Legacy | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 3,268 | 3,337 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
Consumer | Credit cards | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 13 | 30 | ||
Accruing loans past-due 90 days or more | 20,626 | 18,725 | ||
Consumer | Home equity lines of credit | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 11,960 | 4,762 | ||
Accruing loans past-due 90 days or more | 48 | 185 | ||
Consumer | Personal | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 22,080 | 22,417 | ||
Accruing loans past-due 90 days or more | 77 | 34 | ||
Consumer | Auto | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 12,259 | 12,320 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
Consumer | Other | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 15,898 | 18,732 | ||
Accruing loans past-due 90 days or more | 615 | 587 | ||
PUERTO RICO | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 548,666 | [1] | 532,508 | [2] |
Accruing loans past-due 90 days or more | 465,127 | 426,652 | ||
PUERTO RICO | Commercial multi-family | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 1,060 | 664 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
PUERTO RICO | CRE non-owner occupied | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 23,028 | 24,611 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
PUERTO RICO | CRE owner occupied | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 90,346 | 102,771 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
PUERTO RICO | Commercial and industrial | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 45,609 | 31,609 | ||
Accruing loans past-due 90 days or more | 384 | 538 | ||
PUERTO RICO | Construction | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 99 | |||
Accruing loans past-due 90 days or more | 0 | |||
PUERTO RICO | Mortgages | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 337,967 | [3],[4] | 318,194 | [5],[6] |
Accruing loans past-due 90 days or more | 443,377 | [3],[4] | 406,583 | [5],[6] |
PUERTO RICO | Leasing | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 2,684 | 3,062 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
PUERTO RICO | Legacy | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
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 [Line Items] | ||||
Non-accrual loans | 0 | 0 | ||
Accruing loans past-due 90 days or more | 20,626 | 18,725 | ||
PUERTO RICO | Consumer | Home equity lines of credit | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 0 | 0 | ||
Accruing loans past-due 90 days or more | 48 | 185 | ||
PUERTO RICO | Consumer | Personal | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 19,738 | 20,553 | ||
Accruing loans past-due 90 days or more | 77 | 34 | ||
PUERTO RICO | Consumer | Auto | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 12,259 | 12,320 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
PUERTO RICO | Consumer | Other | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 15,876 | 18,724 | ||
Accruing loans past-due 90 days or more | 615 | 587 | ||
UNITED STATES | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 37,262 | [1] | 25,407 | [2] |
Accruing loans past-due 90 days or more | 0 | 0 | ||
UNITED STATES | Commercial multi-family | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 0 | 206 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
UNITED STATES | CRE non-owner occupied | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 3,074 | 1,195 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
UNITED STATES | CRE owner occupied | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 486 | 472 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
UNITED STATES | Commercial and industrial | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 1,749 | 1,820 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
UNITED STATES | Construction | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 0 | |||
Accruing loans past-due 90 days or more | 0 | |||
UNITED STATES | Mortgages | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 14,348 | [3],[4] | 11,713 | [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 [Line Items] | ||||
Non-accrual loans | 0 | 0 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
UNITED STATES | Legacy | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 3,268 | 3,337 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
UNITED STATES | Consumer | Credit cards | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 13 | 30 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
UNITED STATES | Consumer | Home equity lines of credit | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 11,960 | 4,762 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
UNITED STATES | Consumer | Personal | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 2,342 | 1,864 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
UNITED STATES | Consumer | Auto | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 0 | 0 | ||
Accruing loans past-due 90 days or more | 0 | 0 | ||
UNITED STATES | Consumer | Other | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 22 | 8 | ||
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 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 $ 157 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, 2017 . Furthermore, the Co rporation has approximately $ 57 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 $ 192 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 $ 181 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, 2016 . Furthermore, the Corporation has approximately $68 million in reverse mortgage loans in Puerto Rico which are guaranteed by FHA, but which are currently not accruing interest. Due to the guaranteed nature of the loans, it is the Corporation’s policy to exclude these balances from non-performing assets . | |||
[6] | Non-covered loans by $ 215 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-perf90
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, 2017 | Dec. 31, 2016 | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans held-in-portfolio, net of unearned income | $ 23,173,450 | [1],[2] | $ 22,773,747 | [3],[4] |
ASC Subtopic 310-30 | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans held-in-portfolio, net of unearned income | 192,000 | 215,000 | ||
Reverse Mortgages | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Accruing loans past-due 90 days or more | 57,000 | 68,000 | ||
Residential mortgage loans insured By FHA | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Accruing loans past-due 90 days or more | $ 157,000 | $ 181,000 | ||
[1] | 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 $4.7 billion were pledged at the Federal Home Loan Bank ("FHLB") as collateral for borrowings, $2.2 billion at the Federal Reserve Bank ("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 $129 million in unearned income and exclude $69 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 $4.5 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. | |||
[4] | Non-covered loans held-in-portfolio are net of $121 million in unearned income and exclude $89 million in loans held-for-sale. |
Note Loans (Composition of loan
Note Loans (Composition of loans held-in-portfolio-covered loans and past due status) (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans covered under loss-sharing agreements with the FDIC | $ 524,854 | $ 572,878 | ||
Covered loans | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past Due | 127,752 | 110,336 | ||
Current | 397,102 | 462,542 | ||
Loans covered under loss-sharing agreements with the FDIC | 524,854 | [1] | 572,878 | [2] |
Covered loans | Past Due 30 To 59 Days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past Due | 49,229 | 26,257 | ||
Covered loans | Past Due 60 To 89 Days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past Due | 16,546 | 13,149 | ||
Covered loans | Past Due 90 Days or More | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past Due | 61,977 | 70,930 | ||
Covered loans | Mortgages | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past Due | 124,803 | 108,266 | ||
Current | 385,408 | 448,304 | ||
Loans covered under loss-sharing agreements with the FDIC | 510,211 | 556,570 | ||
Covered loans | Mortgages | Past Due 30 To 59 Days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past Due | 47,726 | 25,506 | ||
Covered loans | Mortgages | Past Due 60 To 89 Days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past Due | 16,104 | 12,904 | ||
Covered loans | Mortgages | Past Due 90 Days or More | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past Due | 60,973 | 69,856 | ||
Covered loans | Consumer | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past Due | 2,949 | 2,070 | ||
Current | 11,694 | 14,238 | ||
Loans covered under loss-sharing agreements with the FDIC | 14,643 | 16,308 | ||
Covered loans | Consumer | Past Due 30 To 59 Days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past Due | 1,503 | 751 | ||
Covered loans | Consumer | Past Due 60 To 89 Days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past Due | 442 | 245 | ||
Covered loans | Consumer | Past Due 90 Days or More | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past Due | $ 1,004 | $ 1,074 | ||
[1] | Includes $296 million pledged to secure credit facilities at the FHLB which are not permitted to sell or repledge the collateral. | |||
[2] | Includes $337 million pledged to secure credit facilities at the FHLB which are not permitted to sell or repledge the collateral. |
Note Loans (Composition of lo92
Note Loans (Composition of loans held-in-portfolio-covered loans and past due status) (Parenthetical) (Detail) - USD ($) $ in Millions | Sep. 30, 2017 | Dec. 31, 2016 |
Loans Held for Investment | Covered Loans | ||
Financial Instruments Owned and Pledged as Collateral [Line Items] | ||
Pledged Financial Instruments, Not Separately Reported, Loans Receivable Pledged as Collateral | $ 296 | $ 337 |
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, 2017 | Dec. 31, 2016 | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Non-accrual loans | [1] | $ 3,406 | $ 3,915 |
Accruing loans past-due 90 days or more | [1] | 0 | 0 |
Mortgages | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Non-accrual loans | 3,210 | 3,794 | |
Accruing loans past-due 90 days or more | 0 | 0 | |
Consumer | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Non-accrual loans | 196 | 121 | |
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, 2017 | Jun. 30, 2017 | [3] | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | [1],[2] | Dec. 31, 2015 | [1],[3] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Carrying amount | $ 1,588,547 | [1],[2],[3] | $ 1,617,787 | $ 1,738,329 | [1],[3] | $ 1,767,539 | [1],[2] | $ 1,799,943 | $ 1,974,501 | |||
Less: Allowance for loan losses | (67,100) | (68,877) | (69,571) | |||||||||
Carrying amount, net of allowance | 1,521,447 | 1,669,452 | 1,697,968 | |||||||||
Commercial real estate | ||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Carrying amount | 917,399 | 999,621 | ||||||||||
Commercial and industrial | ||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Carrying amount | 86,795 | 103,476 | ||||||||||
Construction | ||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Carrying amount | 170 | 1,668 | ||||||||||
Mortgages | ||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Carrying amount | 566,337 | 613,730 | ||||||||||
Consumer | ||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Carrying amount | 17,846 | 19,834 | ||||||||||
Non-credit Impaired Loans | ||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Carrying amount | 1,551,523 | [1],[2],[3] | 1,579,196 | 1,695,381 | [1],[3] | 1,724,180 | [1],[2] | 1,754,613 | 1,898,146 | |||
Less: Allowance for loan losses | (61,034) | (61,855) | (62,114) | |||||||||
Carrying amount, net of allowance | 1,490,489 | 1,633,526 | 1,662,066 | |||||||||
Non-credit Impaired Loans | Commercial real estate | ||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Carrying amount | 902,908 | 985,181 | ||||||||||
Non-credit Impaired Loans | Commercial and industrial | ||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Carrying amount | 86,795 | 103,476 | ||||||||||
Non-credit Impaired Loans | Construction | ||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Carrying amount | 0 | 0 | ||||||||||
Non-credit Impaired Loans | Mortgages | ||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Carrying amount | 544,745 | 587,949 | ||||||||||
Non-credit Impaired Loans | Consumer | ||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Carrying amount | 17,075 | 18,775 | ||||||||||
Credit Impaired Loans | ||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Carrying amount | 37,024 | [1],[2],[3] | $ 38,591 | 42,948 | [1],[3] | 43,359 | [1],[2] | $ 45,330 | $ 76,355 | |||
Less: Allowance for loan losses | (6,066) | (7,022) | (7,457) | |||||||||
Carrying amount, net of allowance | 30,958 | 35,926 | $ 35,902 | |||||||||
Credit Impaired Loans | Commercial real estate | ||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Carrying amount | 14,491 | 14,440 | ||||||||||
Credit Impaired Loans | Commercial and industrial | ||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Carrying amount | 0 | 0 | ||||||||||
Credit Impaired Loans | Construction | ||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Carrying amount | 170 | 1,668 | ||||||||||
Credit Impaired Loans | Mortgages | ||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Carrying amount | 21,592 | 25,781 | ||||||||||
Credit Impaired Loans | Consumer | ||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Carrying amount | $ 771 | $ 1,059 | ||||||||||
[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 $ 515 million as of September 30, 2017 (September 30, 2016- $578 million). | |||||||||||
[3] | 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 $515 million as of September 30, 2017 and $563 million as of December 31, 2016. |
Note Loans (Carrying amount o95
Note Loans (Carrying amount of Westernbank loans accounted for pursuant to ASC310-30) (Parenthetical) (Detail) - USD ($) $ in Millions | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 |
Remain Subject To The Loss Sharing Agreement With FDIC | ASC Subtopic 310-30 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying amount | $ 515 | $ 563 | $ 578 |
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, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | ||||||
Accretable yield | ||||||||||
Beginning Balance | $ 942,668 | $ 1,071,680 | $ 1,010,087 | $ 1,112,458 | ||||||
Accretion | (34,790) | (39,590) | (108,170) | (131,599) | ||||||
Change In Expected Cash Flows | 1,451 | 6,602 | 7,412 | 57,833 | ||||||
Ending Balance | 909,329 | 1,038,692 | 909,329 | 1,038,692 | ||||||
Carrying amount of loans | ||||||||||
Beginning Balance | 1,617,787 | [1] | 1,799,943 | [2],[3] | 1,738,329 | [1],[2] | 1,974,501 | [1],[2] | ||
Accretion | 34,790 | 39,590 | 108,170 | 131,599 | ||||||
Collections | (64,030) | (71,994) | (257,952) | (338,561) | ||||||
Ending Balance | [2],[3] | 1,588,547 | [1] | 1,767,539 | 1,588,547 | [1] | 1,767,539 | |||
Less: Allowance for loan losses | (67,100) | (69,571) | (67,100) | (69,571) | $ (68,877) | |||||
Carrying amount, net of allowance | 1,521,447 | 1,697,968 | 1,521,447 | 1,697,968 | 1,669,452 | |||||
Non-credit Impaired Loans | ||||||||||
Accretable yield | ||||||||||
Beginning Balance | 936,204 | 1,061,971 | 1,001,908 | 1,105,732 | ||||||
Accretion | (34,064) | (38,597) | (105,759) | (125,734) | ||||||
Change In Expected Cash Flows | 1,842 | 6,992 | 7,833 | 50,368 | ||||||
Ending Balance | 903,982 | 1,030,366 | 903,982 | 1,030,366 | ||||||
Carrying amount of loans | ||||||||||
Beginning Balance | 1,579,196 | [1] | 1,754,613 | [2],[3] | 1,695,381 | [1],[2] | 1,898,146 | [1],[2] | ||
Accretion | 34,064 | 38,597 | 105,759 | 125,734 | ||||||
Collections | (61,737) | (69,030) | (249,617) | (299,700) | ||||||
Ending Balance | [2],[3] | 1,551,523 | [1] | 1,724,180 | 1,551,523 | [1] | 1,724,180 | |||
Less: Allowance for loan losses | (61,034) | (62,114) | (61,034) | (62,114) | (61,855) | |||||
Carrying amount, net of allowance | 1,490,489 | 1,662,066 | 1,490,489 | 1,662,066 | 1,633,526 | |||||
Credit Impaired Loans | ||||||||||
Accretable yield | ||||||||||
Beginning Balance | 6,464 | 9,709 | 8,179 | 6,726 | ||||||
Accretion | (726) | (993) | (2,411) | (5,865) | ||||||
Change In Expected Cash Flows | (391) | (390) | (421) | 7,465 | ||||||
Ending Balance | 5,347 | 8,326 | 5,347 | 8,326 | ||||||
Carrying amount of loans | ||||||||||
Beginning Balance | 38,591 | [1] | 45,330 | [2],[3] | 42,948 | [1],[2] | 76,355 | [1],[2] | ||
Accretion | 726 | 993 | 2,411 | 5,865 | ||||||
Collections | (2,293) | (2,964) | (8,335) | (38,861) | ||||||
Ending Balance | [2],[3] | 37,024 | [1] | 43,359 | 37,024 | [1] | 43,359 | |||
Less: Allowance for loan losses | (6,066) | (7,457) | (6,066) | (7,457) | (7,022) | |||||
Carrying amount, net of allowance | $ 30,958 | $ 35,902 | $ 30,958 | $ 35,902 | $ 35,926 | |||||
[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 $515 million as of September 30, 2017 and $563 million as of December 31, 2016. | |||||||||
[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 $ 515 million as of September 30, 2017 (September 30, 2016- $578 million). |
Note Loans (Changes in the ca97
Note Loans (Changes in the carrying amount and the accretable yield for the acquired loans in the Westernbank FDIC-assisted transaction) (Parenthetical) (Detail) - ASC Subtopic 310-30 - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2016 | Sep. 30, 2017 | Dec. 31, 2016 | |
Westernbank Puerto Rico | Bulk Sale | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans Sold | $ 99 | $ 99 | ||
Remain Subject To The Loss Sharing Agreement With FDIC | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Carrying amount | $ 578 | $ 578 | $ 515 | $ 563 |
Note Loans (Changes in the ca98
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, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Accretable yield | ||||
Beginning Balance | $ 303,004 | $ 272,609 | $ 278,896 | $ 221,128 |
Additions | 2,882 | 3,809 | 8,737 | 12,320 |
Accretion | (7,945) | (8,689) | (25,203) | (25,974) |
Change In Expected Cash Flows | (7,926) | 8,672 | 27,585 | 68,927 |
Ending Balance | 290,015 | 276,401 | 290,015 | 276,401 |
Carrying amount of loans | ||||
Beginning Balance | 550,877 | 562,745 | 562,695 | 564,050 |
Purchase accounting adjustments related to the Doral Bank Transaction | 0 | (4,707) | ||
Additions | 4,792 | 8,349 | 14,671 | 26,754 |
Accretion | 7,945 | 8,689 | 25,203 | 25,974 |
Collections | (18,215) | (17,861) | (57,170) | (50,149) |
Ending Balance | 545,399 | 561,922 | 545,399 | 561,922 |
Less: Allowance for loan losses | (70,930) | (18,550) | (70,930) | (18,550) |
Carrying amount, net of allowance | $ 474,469 | $ 543,372 | $ 474,469 | $ 543,372 |
Note Loans - Additional Informa
Note Loans - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial Construction Loans Sold | $ 0 | $ 1,000 | |||
Transfers Of Financial Assets Accounted For As Sale Initial Fair Value Of Assets Obtained As Proceeds | $ 108,091 | 213,348 | $ 461,273 | 601,329 | |
Loans and Leases Receivable, Gross, Carrying Amount, Covered | 524,854 | 524,854 | $ 572,878 | ||
GNMA | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Transfers Of Financial Assets Accounted For As Sale Initial Fair Value Of Assets Obtained As Proceeds | 136,000 | 170,000 | 283,000 | 304,000 | |
FNMA | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Transfers Of Financial Assets Accounted For As Sale Initial Fair Value Of Assets Obtained As Proceeds | 21,000 | 43,000 | 86,000 | 79,000 | |
Residential Mortgage | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Residential Mortgage Loans Sold | 9,000 | 19,000 | 63,000 | 40,000 | |
Consumer | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Purchase of Loans | 133,000 | 58,000 | 283,000 | 164,000 | |
Mortgages | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Purchase of Loans | 104,000 | $ 118,000 | 264,000 | 240,000 | |
Commercial Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Purchase of Loans | 51,000 | ||||
Leasing | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Purchase of Loans | 0 | 2,000 | |||
Westernbank Puerto Rico | Bulk Sale | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Purchase of Loans | $ 100,000 | ||||
Westernbank Puerto Rico | ASC Subtopic 310-30 | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Outstanding principal balance of SOP loans | 1,900,000 | 1,900,000 | 2,100,000 | ||
Westernbank Puerto Rico | ASC Subtopic 310-20 | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | 10,000 | 10,000 | 10,000 | ||
SOP Other Loans Acquired | ASC Subtopic 310-30 | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Outstanding principal balance of SOP loans | $ 598,000 | $ 598,000 | $ 700,000 |
Note Allowance for loan losses
Note Allowance for loan losses (Allowance Movement) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Balance at beginning of period | $ 540,014 | $ 548,720 | $ 540,651 | $ 537,111 | |||||
Provision for loan losses | 160,759 | 43,344 | 253,936 | 128,651 | |||||
Charge-offs | (67,146) | (64,241) | (206,255) | (194,813) | |||||
Recoveries | 13,286 | 28,032 | 58,581 | 79,461 | |||||
Net recovery (write-down) | 5,445 | ||||||||
Balance at end of period | 646,913 | 555,855 | 646,913 | 555,855 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 115,191 | 129,057 | 115,191 | 129,057 | |||||
General ALLL | 531,722 | 426,798 | 531,722 | 426,798 | |||||
Ending balance: loans individually evaluated for impairment | 954,787 | 938,564 | 954,787 | 938,564 | |||||
Ending balance: loans collectively evaluated for impairment | 22,743,517 | 22,245,619 | 22,743,517 | 22,245,619 | |||||
Non-covered Loans held-in-portfolio | 23,173,450 | [1],[2] | 23,173,450 | [1],[2] | $ 22,773,747 | [3],[4] | |||
Loans covered under loss-sharing agreements with the FDIC | 524,854 | 524,854 | 572,878 | ||||||
Loans And Leases Receivable Covered And Not Covered Total Net Of Unearned Income | 23,698,304 | 23,184,183 | 23,698,304 | 23,184,183 | |||||
Covered loans | |||||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Loans covered under loss-sharing agreements with the FDIC | 524,854 | [5] | 524,854 | [5] | 572,878 | [6] | |||
PUERTO RICO | |||||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Non-covered Loans held-in-portfolio | [7] | 17,118,072 | 17,118,072 | 17,168,424 | |||||
PUERTO RICO | Non-covered loans | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Balance at beginning of period | 454,435 | 480,721 | 467,984 | 469,923 | |||||
Provision for loan losses | 115,115 | 36,281 | 188,766 | 118,503 | |||||
Charge-offs | (56,550) | (57,651) | (182,438) | (179,501) | |||||
Recoveries | 11,249 | 24,692 | 49,937 | 69,673 | |||||
Net recovery (write-down) | 5,445 | ||||||||
Balance at end of period | 524,249 | 484,043 | 524,249 | 484,043 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 112,172 | 126,342 | 112,172 | 126,342 | |||||
General ALLL | 412,077 | 357,701 | 412,077 | 357,701 | |||||
Ending balance: loans individually evaluated for impairment | 942,254 | 927,080 | 942,254 | 927,080 | |||||
Ending balance: loans collectively evaluated for impairment | 16,175,818 | 16,349,621 | 16,175,818 | 16,349,621 | |||||
Non-covered Loans held-in-portfolio | 17,118,072 | 17,276,701 | 17,118,072 | 17,276,701 | |||||
PUERTO RICO | Covered loans | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Balance at beginning of period | 30,808 | 30,581 | 30,350 | 34,176 | |||||
Provision for loan losses | 3,100 | 750 | 4,255 | (1,551) | |||||
Charge-offs | (887) | (1,384) | (2,834) | (3,095) | |||||
Recoveries | 36 | 315 | 1,286 | 732 | |||||
Balance at end of period | 33,057 | 30,262 | 33,057 | 30,262 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 0 | 0 | 0 | 0 | |||||
General ALLL | 33,057 | 30,262 | 33,057 | 30,262 | |||||
Ending balance: loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |||||
Ending balance: loans collectively evaluated for impairment | 524,854 | 588,211 | 524,854 | 588,211 | |||||
Loans covered under loss-sharing agreements with the FDIC | 524,854 | 588,211 | 524,854 | 588,211 | |||||
UNITED STATES | |||||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Non-covered Loans held-in-portfolio | 6,055,378 | 6,055,378 | 5,605,323 | ||||||
UNITED STATES | Non-covered loans | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Balance at beginning of period | 54,771 | 37,418 | 42,317 | 33,012 | |||||
Provision for loan losses | 42,544 | 6,313 | 60,915 | 11,699 | |||||
Charge-offs | (9,709) | (5,206) | (20,983) | (12,217) | |||||
Recoveries | 2,001 | 3,025 | 7,358 | 9,056 | |||||
Balance at end of period | 89,607 | 41,550 | 89,607 | 41,550 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 3,019 | 2,715 | 3,019 | 2,715 | |||||
General ALLL | 86,588 | 38,835 | 86,588 | 38,835 | |||||
Ending balance: loans individually evaluated for impairment | 12,533 | 11,484 | 12,533 | 11,484 | |||||
Ending balance: loans collectively evaluated for impairment | 6,042,845 | 5,307,787 | 6,042,845 | 5,307,787 | |||||
Non-covered Loans held-in-portfolio | 6,055,378 | 5,319,271 | 6,055,378 | 5,319,271 | |||||
Commercial | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Balance at beginning of period | 202,508 | 209,681 | 202,654 | 196,833 | |||||
Provision for loan losses | 70,305 | 16,511 | 83,436 | 32,281 | |||||
Charge-offs | (10,126) | (13,954) | (42,993) | (48,296) | |||||
Recoveries | 6,282 | 11,928 | 25,872 | 38,979 | |||||
Net recovery (write-down) | 4,369 | ||||||||
Balance at end of period | 268,969 | 224,166 | 268,969 | 224,166 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 40,863 | 58,527 | 40,863 | 58,527 | |||||
General ALLL | 228,106 | 165,639 | 228,106 | 165,639 | |||||
Ending balance: loans individually evaluated for impairment | 328,704 | 328,868 | 328,704 | 328,868 | |||||
Ending balance: loans collectively evaluated for impairment | 10,898,391 | 10,208,312 | 10,898,391 | 10,208,312 | |||||
Non-covered Loans held-in-portfolio | 11,227,095 | 11,227,095 | 10,798,507 | ||||||
Loans And Leases Receivable Covered And Not Covered Total Net Of Unearned Income | 11,227,095 | 10,537,180 | 11,227,095 | 10,537,180 | |||||
Commercial | PUERTO RICO | |||||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Non-covered Loans held-in-portfolio | [7] | 7,169,611 | 7,169,611 | 7,202,217 | |||||
Commercial | PUERTO RICO | Non-covered loans | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Balance at beginning of period | 174,189 | 199,827 | 189,686 | 186,925 | |||||
Provision for loan losses | 31,059 | 13,746 | 29,945 | 30,630 | |||||
Charge-offs | (5,573) | (13,799) | (38,219) | (47,256) | |||||
Recoveries | 6,011 | 10,600 | 24,274 | 35,706 | |||||
Net recovery (write-down) | 4,369 | ||||||||
Balance at end of period | 205,686 | 210,374 | 205,686 | 210,374 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 40,863 | 58,527 | 40,863 | 58,527 | |||||
General ALLL | 164,823 | 151,847 | 164,823 | 151,847 | |||||
Ending balance: loans individually evaluated for impairment | 328,704 | 328,868 | 328,704 | 328,868 | |||||
Ending balance: loans collectively evaluated for impairment | 6,840,907 | 6,925,290 | 6,840,907 | 6,925,290 | |||||
Non-covered Loans held-in-portfolio | 7,169,611 | 7,254,158 | 7,169,611 | 7,254,158 | |||||
Commercial | PUERTO RICO | Covered loans | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
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 | |||||
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 | 4,057,484 | 4,057,484 | 3,596,290 | ||||||
Commercial | UNITED STATES | Non-covered loans | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Balance at beginning of period | 28,319 | 9,854 | 12,968 | 9,908 | |||||
Provision for loan losses | 39,246 | 2,765 | 53,491 | 1,651 | |||||
Charge-offs | (4,553) | (155) | (4,774) | (1,040) | |||||
Recoveries | 271 | 1,328 | 1,598 | 3,273 | |||||
Balance at end of period | 63,283 | 13,792 | 63,283 | 13,792 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 0 | 0 | 0 | 0 | |||||
General ALLL | 63,283 | 13,792 | 63,283 | 13,792 | |||||
Ending balance: loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |||||
Ending balance: loans collectively evaluated for impairment | 4,057,484 | 3,283,022 | 4,057,484 | 3,283,022 | |||||
Non-covered Loans held-in-portfolio | 4,057,484 | 3,283,022 | 4,057,484 | 3,283,022 | |||||
Construction | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Balance at beginning of period | 8,001 | 11,065 | 9,525 | 8,869 | |||||
Provision for loan losses | 771 | (237) | (3,267) | (1,870) | |||||
Charge-offs | 9 | (951) | (3,646) | (3,026) | |||||
Recoveries | 41 | 65 | 6,210 | 5,055 | |||||
Net recovery (write-down) | 914 | ||||||||
Balance at end of period | 8,822 | 9,942 | 8,822 | 9,942 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 0 | 0 | 0 | 0 | |||||
General ALLL | 8,822 | 9,942 | 8,822 | 9,942 | |||||
Ending balance: loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |||||
Ending balance: loans collectively evaluated for impairment | 823,325 | 731,352 | 823,325 | 731,352 | |||||
Non-covered Loans held-in-portfolio | 823,325 | 823,325 | 776,300 | ||||||
Loans And Leases Receivable Covered And Not Covered Total Net Of Unearned Income | 823,325 | 731,352 | 823,325 | 731,352 | |||||
Construction | PUERTO RICO | |||||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Non-covered Loans held-in-portfolio | 87,705 | 87,705 | 85,558 | ||||||
Construction | PUERTO RICO | Non-covered loans | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Balance at beginning of period | 1,473 | 3,605 | 1,353 | 4,957 | |||||
Provision for loan losses | 176 | (605) | (2,218) | (5,786) | |||||
Charge-offs | 9 | (951) | (3,646) | (3,026) | |||||
Recoveries | 41 | 65 | 6,210 | 5,055 | |||||
Net recovery (write-down) | 914 | ||||||||
Balance at end of period | 1,699 | 2,114 | 1,699 | 2,114 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 0 | 0 | 0 | 0 | |||||
General ALLL | 1,699 | 2,114 | 1,699 | 2,114 | |||||
Ending balance: loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |||||
Ending balance: loans collectively evaluated for impairment | 87,705 | 81,054 | 87,705 | 81,054 | |||||
Non-covered Loans held-in-portfolio | 87,705 | 81,054 | 87,705 | 81,054 | |||||
Construction | PUERTO RICO | Covered loans | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
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 | |||||
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 | 735,620 | 735,620 | 690,742 | ||||||
Construction | UNITED STATES | Non-covered loans | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Balance at beginning of period | 6,528 | 7,460 | 8,172 | 3,912 | |||||
Provision for loan losses | 595 | 368 | (1,049) | 3,916 | |||||
Charge-offs | 0 | 0 | 0 | 0 | |||||
Recoveries | 0 | 0 | 0 | 0 | |||||
Balance at end of period | 7,123 | 7,828 | 7,123 | 7,828 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 0 | 0 | 0 | 0 | |||||
General ALLL | 7,123 | 7,828 | 7,123 | 7,828 | |||||
Ending balance: loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |||||
Ending balance: loans collectively evaluated for impairment | 735,620 | 650,298 | 735,620 | 650,298 | |||||
Non-covered Loans held-in-portfolio | 735,620 | 650,298 | 735,620 | 650,298 | |||||
Mortgages | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Balance at beginning of period | 182,272 | 171,437 | 178,093 | 167,279 | |||||
Provision for loan losses | 41,337 | 16,066 | 80,772 | 50,325 | |||||
Charge-offs | (18,436) | (18,997) | (57,700) | (51,597) | |||||
Recoveries | 708 | 1,157 | 4,716 | 3,656 | |||||
Net recovery (write-down) | 0 | ||||||||
Balance at end of period | 205,881 | 169,663 | 205,881 | 169,663 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 51,421 | 45,557 | 51,421 | 45,557 | |||||
General ALLL | 154,460 | 124,106 | 154,460 | 124,106 | |||||
Ending balance: loans individually evaluated for impairment | 519,228 | 496,868 | 519,228 | 496,868 | |||||
Ending balance: loans collectively evaluated for impairment | 6,520,218 | 6,848,988 | 6,520,218 | 6,848,988 | |||||
Non-covered Loans held-in-portfolio | 6,529,235 | 6,529,235 | 6,696,361 | ||||||
Loans And Leases Receivable Covered And Not Covered Total Net Of Unearned Income | 7,039,446 | 7,345,856 | 7,039,446 | 7,345,856 | |||||
Mortgages | Covered loans | |||||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Loans covered under loss-sharing agreements with the FDIC | 510,211 | 510,211 | 556,570 | ||||||
Mortgages | PUERTO RICO | |||||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Non-covered Loans held-in-portfolio | [7] | 5,815,505 | 5,815,505 | 5,916,500 | |||||
Mortgages | PUERTO RICO | Non-covered loans | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Balance at beginning of period | 147,866 | 136,724 | 143,320 | 128,327 | |||||
Provision for loan losses | 38,838 | 13,841 | 77,692 | 50,398 | |||||
Charge-offs | (17,460) | (16,002) | (53,936) | (45,924) | |||||
Recoveries | 389 | 765 | 2,557 | 2,527 | |||||
Net recovery (write-down) | 0 | ||||||||
Balance at end of period | 169,633 | 135,328 | 169,633 | 135,328 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 49,129 | 43,567 | 49,129 | 43,567 | |||||
General ALLL | 120,504 | 91,761 | 120,504 | 91,761 | |||||
Ending balance: loans individually evaluated for impairment | 510,134 | 487,972 | 510,134 | 487,972 | |||||
Ending balance: loans collectively evaluated for impairment | 5,305,371 | 5,476,876 | 5,305,371 | 5,476,876 | |||||
Non-covered Loans held-in-portfolio | 5,815,505 | 5,964,848 | 5,815,505 | 5,964,848 | |||||
Mortgages | PUERTO RICO | Covered loans | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Balance at beginning of period | 30,284 | 29,951 | 30,159 | 33,967 | |||||
Provision for loan losses | 2,538 | 845 | 3,253 | (1,476) | |||||
Charge-offs | (863) | (973) | (2,700) | (3,078) | |||||
Recoveries | 32 | 312 | 1,279 | 722 | |||||
Balance at end of period | 31,991 | 30,135 | 31,991 | 30,135 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 0 | 0 | 0 | 0 | |||||
General ALLL | 31,991 | 30,135 | 31,991 | 30,135 | |||||
Ending balance: loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |||||
Ending balance: loans collectively evaluated for impairment | 510,211 | 571,349 | 510,211 | 571,349 | |||||
Loans covered under loss-sharing agreements with the FDIC | 510,211 | 571,349 | 510,211 | 571,349 | |||||
Mortgages | UNITED STATES | |||||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Non-covered Loans held-in-portfolio | 713,730 | 713,730 | 779,861 | ||||||
Mortgages | UNITED STATES | Non-covered loans | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Balance at beginning of period | 4,122 | 4,762 | 4,614 | 4,985 | |||||
Provision for loan losses | (39) | 1,380 | (173) | 1,403 | |||||
Charge-offs | (113) | (2,022) | (1,064) | (2,595) | |||||
Recoveries | 287 | 80 | 880 | 407 | |||||
Balance at end of period | 4,257 | 4,200 | 4,257 | 4,200 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 2,292 | 1,990 | 2,292 | 1,990 | |||||
General ALLL | 1,965 | 2,210 | 1,965 | 2,210 | |||||
Ending balance: loans individually evaluated for impairment | 9,094 | 8,896 | 9,094 | 8,896 | |||||
Ending balance: loans collectively evaluated for impairment | 704,636 | 800,763 | 704,636 | 800,763 | |||||
Non-covered Loans held-in-portfolio | 713,730 | 809,659 | 713,730 | 809,659 | |||||
Legacy | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Balance at beginning of period | 993 | 1,852 | 1,343 | 2,687 | |||||
Provision for loan losses | (418) | (690) | (1,554) | (2,665) | |||||
Charge-offs | (86) | (145) | (669) | (388) | |||||
Recoveries | 383 | 665 | 1,752 | 2,048 | |||||
Net recovery (write-down) | 0 | ||||||||
Balance at end of period | 872 | 1,682 | 872 | 1,682 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 0 | 0 | 0 | 0 | |||||
General ALLL | 872 | 1,682 | 872 | 1,682 | |||||
Ending balance: loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |||||
Ending balance: loans collectively evaluated for impairment | 37,508 | 47,914 | 37,508 | 47,914 | |||||
Non-covered Loans held-in-portfolio | [8] | 37,508 | 37,508 | 45,293 | |||||
Loans And Leases Receivable Covered And Not Covered Total Net Of Unearned Income | 37,508 | 47,914 | 37,508 | 47,914 | |||||
Legacy | UNITED STATES | |||||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Non-covered Loans held-in-portfolio | 37,508 | 37,508 | 45,293 | ||||||
Legacy | UNITED STATES | Non-covered loans | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Balance at beginning of period | 993 | 1,852 | 1,343 | 2,687 | |||||
Provision for loan losses | (418) | (690) | (1,554) | (2,665) | |||||
Charge-offs | (86) | (145) | (669) | (388) | |||||
Recoveries | 383 | 665 | 1,752 | 2,048 | |||||
Balance at end of period | 872 | 1,682 | 872 | 1,682 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 0 | 0 | 0 | 0 | |||||
General ALLL | 872 | 1,682 | 872 | 1,682 | |||||
Ending balance: loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |||||
Ending balance: loans collectively evaluated for impairment | 37,508 | 47,914 | 37,508 | 47,914 | |||||
Non-covered Loans held-in-portfolio | 37,508 | 47,914 | 37,508 | 47,914 | |||||
Leasing | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Balance at beginning of period | 8,003 | 10,094 | 7,662 | 10,993 | |||||
Provision for loan losses | 3,924 | (1,363) | 6,516 | (190) | |||||
Charge-offs | (1,733) | (1,429) | (5,030) | (4,435) | |||||
Recoveries | 238 | 613 | 1,284 | 1,547 | |||||
Net recovery (write-down) | 0 | ||||||||
Balance at end of period | 10,432 | 7,915 | 10,432 | 7,915 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 450 | 540 | 450 | 540 | |||||
General ALLL | 9,982 | 7,375 | 9,982 | 7,375 | |||||
Ending balance: loans individually evaluated for impairment | 1,468 | 1,899 | 1,468 | 1,899 | |||||
Ending balance: loans collectively evaluated for impairment | 753,413 | 680,911 | 753,413 | 680,911 | |||||
Non-covered Loans held-in-portfolio | 754,881 | 754,881 | 702,893 | ||||||
Loans And Leases Receivable Covered And Not Covered Total Net Of Unearned Income | 754,881 | 682,810 | 754,881 | 682,810 | |||||
Leasing | PUERTO RICO | |||||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Non-covered Loans held-in-portfolio | [7] | 754,881 | 754,881 | 702,893 | |||||
Leasing | PUERTO RICO | Non-covered loans | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Balance at beginning of period | 8,003 | 10,094 | 7,662 | 10,993 | |||||
Provision for loan losses | 3,924 | (1,363) | 6,516 | (190) | |||||
Charge-offs | (1,733) | (1,429) | (5,030) | (4,435) | |||||
Recoveries | 238 | 613 | 1,284 | 1,547 | |||||
Net recovery (write-down) | 0 | ||||||||
Balance at end of period | 10,432 | 7,915 | 10,432 | 7,915 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 450 | 540 | 450 | 540 | |||||
General ALLL | 9,982 | 7,375 | 9,982 | 7,375 | |||||
Ending balance: loans individually evaluated for impairment | 1,468 | 1,899 | 1,468 | 1,899 | |||||
Ending balance: loans collectively evaluated for impairment | 753,413 | 680,911 | 753,413 | 680,911 | |||||
Non-covered Loans held-in-portfolio | 754,881 | 682,810 | 754,881 | 682,810 | |||||
Leasing | PUERTO RICO | Covered loans | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
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 | |||||
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 [Line Items] | |||||||||
Balance at beginning of period | 138,237 | 144,591 | 141,374 | 150,450 | |||||
Provision for loan losses | 44,840 | 13,057 | 88,033 | 50,770 | |||||
Charge-offs | (36,774) | (28,765) | (96,217) | (87,071) | |||||
Recoveries | 5,634 | 13,604 | 18,747 | 28,176 | |||||
Net recovery (write-down) | 162 | ||||||||
Balance at end of period | 151,937 | 142,487 | 151,937 | 142,487 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 22,457 | 24,433 | 22,457 | 24,433 | |||||
General ALLL | 129,480 | 118,054 | 129,480 | 118,054 | |||||
Ending balance: loans individually evaluated for impairment | 105,387 | 110,929 | 105,387 | 110,929 | |||||
Ending balance: loans collectively evaluated for impairment | 3,710,662 | 3,728,142 | 3,710,662 | 3,728,142 | |||||
Non-covered Loans held-in-portfolio | 3,801,406 | 3,801,406 | 3,754,393 | ||||||
Loans And Leases Receivable Covered And Not Covered Total Net Of Unearned Income | 3,816,049 | 3,839,071 | 3,816,049 | 3,839,071 | |||||
Consumer | Covered loans | |||||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Loans covered under loss-sharing agreements with the FDIC | 14,643 | 14,643 | 16,308 | ||||||
Consumer | PUERTO RICO | |||||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Non-covered Loans held-in-portfolio | [7] | 3,290,370 | 3,290,370 | 3,261,256 | |||||
Consumer | PUERTO RICO | Non-covered loans | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Balance at beginning of period | 122,904 | 130,471 | 125,963 | 138,721 | |||||
Provision for loan losses | 41,118 | 10,662 | 76,831 | 43,451 | |||||
Charge-offs | (31,793) | (25,470) | (81,607) | (78,860) | |||||
Recoveries | 4,570 | 12,649 | 15,612 | 24,838 | |||||
Net recovery (write-down) | 162 | ||||||||
Balance at end of period | 136,799 | 128,312 | 136,799 | 128,312 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 21,730 | 23,708 | 21,730 | 23,708 | |||||
General ALLL | 115,069 | 104,604 | 115,069 | 104,604 | |||||
Ending balance: loans individually evaluated for impairment | 101,948 | 108,341 | 101,948 | 108,341 | |||||
Ending balance: loans collectively evaluated for impairment | 3,188,422 | 3,185,490 | 3,188,422 | 3,185,490 | |||||
Non-covered Loans held-in-portfolio | 3,290,370 | 3,293,831 | 3,290,370 | 3,293,831 | |||||
Consumer | PUERTO RICO | Covered loans | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Balance at beginning of period | 524 | 630 | 191 | 209 | |||||
Provision for loan losses | 562 | (95) | 1,002 | (75) | |||||
Charge-offs | (24) | (411) | (134) | (17) | |||||
Recoveries | 4 | 3 | 7 | 10 | |||||
Balance at end of period | 1,066 | 127 | 1,066 | 127 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 0 | 0 | 0 | 0 | |||||
General ALLL | 1,066 | 127 | 1,066 | 127 | |||||
Ending balance: loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |||||
Ending balance: loans collectively evaluated for impairment | 14,643 | 16,862 | 14,643 | 16,862 | |||||
Loans covered under loss-sharing agreements with the FDIC | 14,643 | 16,862 | 14,643 | 16,862 | |||||
Consumer | UNITED STATES | |||||||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Non-covered Loans held-in-portfolio | 511,036 | 511,036 | $ 493,137 | ||||||
Consumer | UNITED STATES | Non-covered loans | |||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||
Balance at beginning of period | 14,809 | 13,490 | 15,220 | 11,520 | |||||
Provision for loan losses | 3,160 | 2,490 | 10,200 | 7,394 | |||||
Charge-offs | (4,957) | (2,884) | (14,476) | (8,194) | |||||
Recoveries | 1,060 | 952 | 3,128 | 3,328 | |||||
Balance at end of period | 14,072 | 14,048 | 14,072 | 14,048 | |||||
Financing Receivable Allowance For Credit Loss Additional Information Abstract | |||||||||
Specific ALLL | 727 | 725 | 727 | 725 | |||||
General ALLL | 13,345 | 13,323 | 13,345 | 13,323 | |||||
Ending balance: loans individually evaluated for impairment | 3,439 | 2,588 | 3,439 | 2,588 | |||||
Ending balance: loans collectively evaluated for impairment | 507,597 | 525,790 | 507,597 | 525,790 | |||||
Non-covered Loans held-in-portfolio | $ 511,036 | $ 528,378 | $ 511,036 | $ 528,378 | |||||
[1] | 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 $4.7 billion were pledged at the Federal Home Loan Bank ("FHLB") as collateral for borrowings, $2.2 billion at the Federal Reserve Bank ("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 $129 million in unearned income and exclude $69 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 $4.5 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. | ||||||||
[4] | Non-covered loans held-in-portfolio are net of $121 million in unearned income and exclude $89 million in loans held-for-sale. | ||||||||
[5] | Includes $296 million pledged to secure credit facilities at the FHLB which are not permitted to sell or repledge the collateral. | ||||||||
[6] | Includes $337 million pledged to secure credit facilities at the FHLB which are not permitted to sell or repledge the collateral. | ||||||||
[7] | Excludes covered loans acquired in the Westernbank FDIC-assisted transaction. | ||||||||
[8] | The legacy portfolio is comprised of commercial loans, construction loans and lease financings related to certain lending products exited by the Corporation as part of restructuring efforts carried out in prior years at the BPNA segment. |
Note Allowance for loan loss101
Note Allowance for loan losses (Activity in Allowance for Loan Losses Related to ASC 310-30 Acquired Loans) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Balance at beginning of period | $ 540,014 | $ 548,720 | $ 540,651 | $ 537,111 |
Provision for loan losses | 160,759 | 43,344 | 253,936 | 128,651 |
Balance at end of period | 646,913 | 555,855 | 646,913 | 555,855 |
Westernbank Puerto Rico | Acquired loans in an FDIC assisted transaction | Credit Impaired Loans | ASC Subtopic 310-30 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Balance at beginning of period | 65,674 | 66,995 | 68,877 | 63,563 |
Provision for loan losses | 2,995 | 6,710 | 8,214 | 2,640 |
Net recoveries (charge-offs) | (1,569) | (4,134) | (9,991) | 3,368 |
Balance at end of period | $ 67,100 | $ 69,571 | $ 67,100 | $ 69,571 |
Note Allowance for loan loss102
Note Allowance for loan losses (Disclosures related to loans individually evaluated for impairment) (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | $ 115,191 | $ 111,377 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 112,412 | 129,350 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 842,375 | 826,707 |
Recorded Investment | 954,787 | 956,057 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 170,879 | 182,772 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 966,536 | 908,563 |
Unpaid Principal Balance | 1,137,415 | 1,091,335 |
PUERTO RICO | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 112,172 | 108,523 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 109,083 | 126,476 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 833,171 | 817,866 |
Recorded Investment | 942,254 | 944,342 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 166,613 | 179,009 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 955,541 | 898,124 |
Unpaid Principal Balance | 1,122,154 | 1,077,133 |
UNITED STATES | Non Covered Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 3,019 | 2,854 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 3,329 | 2,874 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 9,204 | 8,841 |
Recorded Investment | 12,533 | 11,715 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 4,266 | 3,763 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 10,995 | 10,439 |
Unpaid Principal Balance | 15,261 | 14,202 |
Commercial multi-family | Non Covered Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 30 | 34 |
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 | 204 | 82 |
Recorded Investment | 204 | 82 |
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 | 204 | 82 |
Unpaid Principal Balance | 204 | 82 |
Commercial multi-family | PUERTO RICO | Non Covered Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 30 | 34 |
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 | 204 | 82 |
Recorded Investment | 204 | 82 |
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 | 204 | 82 |
Unpaid Principal Balance | 204 | 82 |
CRE non-owner occupied | Non Covered Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 25,535 | 24,537 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 7,617 | 15,935 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 109,814 | 104,119 |
Recorded Investment | 117,431 | 120,054 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 12,780 | 29,631 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 120,252 | 105,047 |
Unpaid Principal Balance | 133,032 | 134,678 |
CRE non-owner occupied | PUERTO RICO | Non Covered Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 25,535 | 24,537 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 7,617 | 15,935 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 109,814 | 104,119 |
Recorded Investment | 117,431 | 120,054 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 12,780 | 29,631 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 120,252 | 105,047 |
Unpaid Principal Balance | 133,032 | 134,678 |
CRE owner occupied | Non Covered Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 8,729 | 13,007 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 28,389 | 31,962 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 120,196 | 131,634 |
Recorded Investment | 148,585 | 163,596 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 59,034 | 50,094 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 178,892 | 169,013 |
Unpaid Principal Balance | 237,926 | 219,107 |
CRE owner occupied | PUERTO RICO | Non Covered Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 8,729 | 13,007 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 28,389 | 31,962 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 120,196 | 131,634 |
Recorded Investment | 148,585 | 163,596 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 59,034 | 50,094 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 178,892 | 169,013 |
Unpaid Principal Balance | 237,926 | 219,107 |
Commercial and industrial | Non Covered Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 6,569 | 4,797 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 15,677 | 7,828 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 46,807 | 46,862 |
Recorded Investment | 62,484 | 54,690 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 25,105 | 11,478 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 49,869 | 49,301 |
Unpaid Principal Balance | 74,974 | 60,779 |
Commercial and industrial | PUERTO RICO | Non Covered Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 6,569 | 4,797 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 15,677 | 7,828 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 46,807 | 46,862 |
Recorded Investment | 62,484 | 54,690 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 25,105 | 11,478 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 49,869 | 49,301 |
Unpaid Principal Balance | 74,974 | 60,779 |
Mortgages | Non Covered Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 51,421 | 44,610 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 59,993 | 73,246 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 459,235 | 433,118 |
Recorded Investment | 519,228 | 506,364 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 73,207 | 91,175 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 511,190 | 474,220 |
Unpaid Principal Balance | 584,397 | 565,395 |
Mortgages | PUERTO RICO | Non Covered Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 49,129 | 42,428 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 57,400 | 70,751 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 452,734 | 426,737 |
Recorded Investment | 510,134 | 497,488 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 69,694 | 87,806 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 502,908 | 466,249 |
Unpaid Principal Balance | 572,602 | 554,055 |
Mortgages | UNITED STATES | Non Covered Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 2,292 | 2,182 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 2,593 | 2,495 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 6,501 | 6,381 |
Recorded Investment | 9,094 | 8,876 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 3,513 | 3,369 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 8,282 | 7,971 |
Unpaid Principal Balance | 11,795 | 11,340 |
Leasing | Non Covered Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 450 | 535 |
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 | 1,468 | 1,817 |
Recorded Investment | 1,468 | 1,817 |
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 | 1,468 | 1,817 |
Unpaid Principal Balance | 1,468 | 1,817 |
Leasing | PUERTO RICO | Non Covered Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 450 | 535 |
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 | 1,468 | 1,817 |
Recorded Investment | 1,468 | 1,817 |
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 | 1,468 | 1,817 |
Unpaid Principal Balance | 1,468 | 1,817 |
Consumer | Credit cards | Non Covered Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 5,500 | 5,588 |
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 | 35,782 | 37,464 |
Recorded Investment | 35,782 | 37,464 |
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 | 35,782 | 37,464 |
Unpaid Principal Balance | 35,782 | 37,464 |
Consumer | Credit cards | PUERTO RICO | Non Covered Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 5,500 | 5,588 |
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 | 35,782 | 37,464 |
Recorded Investment | 35,782 | 37,464 |
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 | 35,782 | 37,464 |
Unpaid Principal Balance | 35,782 | 37,464 |
Consumer | Home equity lines of credit | Non Covered Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 501 | 667 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 519 | 300 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 2,149 | 2,421 |
Recorded Investment | 2,668 | 2,721 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 536 | 315 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 2,158 | 2,429 |
Unpaid Principal Balance | 2,694 | 2,744 |
Consumer | Home equity lines of credit | UNITED STATES | Non Covered Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 501 | 667 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 519 | 300 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 2,149 | 2,421 |
Recorded Investment | 2,668 | 2,721 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 536 | 315 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 2,158 | 2,429 |
Unpaid Principal Balance | 2,694 | 2,744 |
Consumer | Personal | Non Covered Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 15,842 | 16,960 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 217 | 79 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 63,569 | 66,082 |
Recorded Investment | 63,786 | 66,161 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 217 | 79 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 63,570 | 66,082 |
Unpaid Principal Balance | 63,787 | 66,161 |
Consumer | Personal | PUERTO RICO | Non Covered Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 15,616 | 16,955 |
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 | 63,015 | 66,043 |
Recorded Investment | 63,015 | 66,043 |
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 | 63,015 | 66,043 |
Unpaid Principal Balance | 63,015 | 66,043 |
Consumer | Personal | UNITED STATES | Non Covered Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 226 | 5 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 217 | 79 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 554 | 39 |
Recorded Investment | 771 | 118 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 217 | 79 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 555 | 39 |
Unpaid Principal Balance | 772 | 118 |
Consumer | Auto | Non Covered Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 440 | 474 |
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 | 2,049 | 2,117 |
Recorded Investment | 2,049 | 2,117 |
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 | 2,049 | 2,117 |
Unpaid Principal Balance | 2,049 | 2,117 |
Consumer | Auto | PUERTO RICO | Non Covered Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 440 | 474 |
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 | 2,049 | 2,117 |
Recorded Investment | 2,049 | 2,117 |
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 | 2,049 | 2,117 |
Unpaid Principal Balance | 2,049 | 2,117 |
Consumer | Other | Non Covered Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 174 | 168 |
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 | 1,102 | 991 |
Recorded Investment | 1,102 | 991 |
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 | 1,102 | 991 |
Unpaid Principal Balance | 1,102 | 991 |
Consumer | Other | PUERTO RICO | Non Covered Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 174 | 168 |
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 | 1,102 | 991 |
Recorded Investment | 1,102 | 991 |
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 | 1,102 | 991 |
Unpaid Principal Balance | $ 1,102 | $ 991 |
Note Allowance for loan loss103
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, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | $ 955,782 | $ 936,967 | $ 959,458 | $ 933,591 |
Interest Income Recognized | 6,488 | 6,843 | 21,873 | 20,234 |
Commercial multi-family | Non Covered Loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 141 | 43 | 111 | 21 |
Interest Income Recognized | 1 | 1 | 4 | 4 |
CRE non-owner occupied | Non Covered Loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 117,650 | 140,083 | 118,243 | 129,372 |
Interest Income Recognized | 1,272 | 1,345 | 3,997 | 3,971 |
CRE owner occupied | Non Covered Loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 151,580 | 136,565 | 158,046 | 147,305 |
Interest Income Recognized | 1,413 | 1,408 | 4,640 | 4,349 |
Commercial and industrial | Non Covered Loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 61,950 | 55,685 | 61,072 | 58,518 |
Interest Income Recognized | 531 | 483 | 1,682 | 1,466 |
Construction | Non Covered Loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 518 | 1,384 | ||
Interest Income Recognized | 0 | 0 | ||
Mortgages | Non Covered Loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 516,684 | 490,797 | 512,575 | 483,154 |
Interest Income Recognized | 3,271 | 3,606 | 11,550 | 10,444 |
Leasing | Non Covered Loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 1,568 | 2,005 | 1,689 | 2,201 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
Consumer | Credit cards | Non Covered Loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 35,727 | 38,431 | 36,718 | 38,344 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
Consumer | Home equity lines of credit | Non Covered Loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 2,572 | 1,883 | 2,632 | 1,741 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
Consumer | Personal | Non Covered Loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 64,854 | 67,728 | 65,402 | 68,256 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
Consumer | Auto | Non Covered Loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 2,065 | 2,501 | 2,079 | 2,689 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
Consumer | Other | Non Covered Loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 991 | 728 | 891 | 606 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
PUERTO RICO | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 943,452 | 925,703 | 947,439 | 923,172 |
Interest Income Recognized | 6,428 | 6,775 | 21,717 | 20,101 |
PUERTO RICO | Commercial multi-family | Non Covered Loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 141 | 43 | 111 | 21 |
Interest Income Recognized | 1 | 1 | 4 | 4 |
PUERTO RICO | CRE non-owner occupied | Non Covered Loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 117,650 | 140,083 | 118,243 | 129,372 |
Interest Income Recognized | 1,272 | 1,345 | 3,997 | 3,971 |
PUERTO RICO | CRE owner occupied | Non Covered Loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 151,580 | 136,565 | 158,046 | 147,305 |
Interest Income Recognized | 1,413 | 1,408 | 4,640 | 4,349 |
PUERTO RICO | Commercial and industrial | Non Covered Loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 61,950 | 55,685 | 61,072 | 58,518 |
Interest Income Recognized | 531 | 483 | 1,682 | 1,466 |
PUERTO RICO | Construction | Non Covered Loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 518 | 1,384 | ||
Interest Income Recognized | 0 | 0 | ||
PUERTO RICO | Mortgages | Non Covered Loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 507,689 | 482,067 | 503,628 | 475,108 |
Interest Income Recognized | 3,211 | 3,538 | 11,394 | 10,311 |
PUERTO RICO | Leasing | Non Covered Loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 1,568 | 2,005 | 1,689 | 2,201 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
PUERTO RICO | Consumer | Credit cards | Non Covered Loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 35,727 | 38,431 | 36,718 | 38,344 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
PUERTO RICO | Consumer | Home equity lines of credit | Non Covered Loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 0 | 0 | 0 | 0 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
PUERTO RICO | Consumer | Personal | Non Covered Loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 64,091 | 67,077 | 64,962 | 67,624 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
PUERTO RICO | Consumer | Auto | Non Covered Loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 2,065 | 2,501 | 2,079 | 2,689 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
PUERTO RICO | Consumer | Other | Non Covered Loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 991 | 728 | 891 | 606 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
UNITED STATES | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 12,330 | 11,264 | 12,019 | 10,419 |
Interest Income Recognized | 60 | 68 | 156 | 133 |
UNITED STATES | Commercial multi-family | Non Covered Loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
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 [Line Items] | ||||
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 [Line Items] | ||||
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 [Line Items] | ||||
Average Recorded Investment | 0 | 0 | 0 | 0 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
UNITED STATES | Construction | Non Covered Loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 0 | 0 | ||
Interest Income Recognized | 0 | 0 | ||
UNITED STATES | Mortgages | Non Covered Loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 8,995 | 8,730 | 8,947 | 8,046 |
Interest Income Recognized | 60 | 68 | 156 | 133 |
UNITED STATES | Leasing | Non Covered Loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
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 [Line Items] | ||||
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 [Line Items] | ||||
Average Recorded Investment | 2,572 | 1,883 | 2,632 | 1,741 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
UNITED STATES | Consumer | Personal | Non Covered Loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 763 | 651 | 440 | 632 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
UNITED STATES | Consumer | Auto | Non Covered Loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 0 | 0 | 0 | 0 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
UNITED STATES | Consumer | Other | Non Covered Loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 0 | 0 | 0 | 0 |
Interest Income Recognized | $ 0 | $ 0 | $ 0 | $ 0 |
Note Allowance for loan loss104
Note Allowance for loan losses (Troubled debt restructuring according to their accruing status) (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | $ 115,191 | $ 129,057 | |
Commercial | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 40,863 | 58,527 | |
Construction | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | 0 | |
Mortgages | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 51,421 | 45,557 | |
Leasing | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 450 | 540 | |
Consumer | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 22,457 | $ 24,433 | |
Non Covered Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Troubled debt restructurings | 1,263,875 | $ 1,246,577 | |
Non Covered Loans | TDR | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 111,799 | 109,812 | |
Non Covered Loans | Commercial | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Troubled debt restructurings | 229,841 | 260,044 | |
Non Covered Loans | Commercial | TDR | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 37,471 | 40,810 | |
Non Covered Loans | Mortgages | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Troubled debt restructurings | 924,902 | 871,997 | |
Non Covered Loans | Mortgages | TDR | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 51,421 | 44,610 | |
Non Covered Loans | Leasing | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Troubled debt restructurings | 1,333 | 1,817 | |
Non Covered Loans | Leasing | TDR | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 450 | 535 | |
Non Covered Loans | Consumer | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Troubled debt restructurings | 107,799 | 112,719 | |
Non Covered Loans | Consumer | TDR | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 22,457 | 23,857 | |
Covered loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Troubled debt restructurings | 5,937 | 5,530 | |
Covered loans | TDR | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | 0 | |
Covered loans | Mortgages | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Troubled debt restructurings | 5,937 | 5,530 | |
Covered loans | Mortgages | TDR | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | 0 | |
Non-Accruing | Non Covered Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Troubled debt restructurings | 210,290 | 223,104 | |
Non-Accruing | Non Covered Loans | Commercial | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Troubled debt restructurings | 66,492 | 83,157 | |
Non-Accruing | Non Covered Loans | Mortgages | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Troubled debt restructurings | 131,424 | 127,071 | |
Non-Accruing | Non Covered Loans | Leasing | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Troubled debt restructurings | 370 | 434 | |
Non-Accruing | Non Covered Loans | Consumer | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Troubled debt restructurings | 12,004 | 12,442 | |
Non-Accruing | Covered loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Troubled debt restructurings | 2,617 | 2,580 | |
Non-Accruing | Covered loans | Mortgages | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Troubled debt restructurings | 2,617 | 2,580 | |
Accruing | Non Covered Loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Troubled debt restructurings | 1,053,585 | 1,023,473 | |
Accruing | Non Covered Loans | Commercial | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Troubled debt restructurings | 163,349 | 176,887 | |
Accruing | Non Covered Loans | Mortgages | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Troubled debt restructurings | 793,478 | 744,926 | |
Accruing | Non Covered Loans | Leasing | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Troubled debt restructurings | 963 | 1,383 | |
Accruing | Non Covered Loans | Consumer | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Troubled debt restructurings | 95,795 | 100,277 | |
Accruing | Covered loans | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Troubled debt restructurings | 3,320 | 2,950 | |
Accruing | Covered loans | Mortgages | |||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | |||
Troubled debt restructurings | $ 3,320 | $ 2,950 |
Note Allowance for loan loss105
Note Allowance for loan losses (Troubled debt restructurings loan count by type of modification) (Detail) - loans | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||||
Reduction In Interest Rate | 352 | 502 | 1,206 | 1,511 |
Extension of Maturity Date | 35 | 35 | 98 | 93 |
Combination Interest Rate Reduction Maturity Date Extension | 93 | 140 | 320 | 388 |
Other Modifications | 132 | 203 | 545 | 668 |
CRE non-owner occupied | ||||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||||
Reduction In Interest Rate | 0 | 3 | 4 | 5 |
Extension of Maturity Date | 0 | 0 | 1 | 1 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 | 0 | 0 |
Other Modifications | 0 | 0 | 0 | 0 |
CRE owner occupied | ||||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||||
Reduction In Interest Rate | 0 | 9 | 3 | 38 |
Extension of Maturity Date | 3 | 0 | 12 | 5 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 | 0 | 0 |
Other Modifications | 0 | 0 | 0 | 0 |
Commercial and industrial | ||||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||||
Reduction In Interest Rate | 1 | 8 | 3 | 22 |
Extension of Maturity Date | 15 | 0 | 36 | 1 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 | 0 | 0 |
Other Modifications | 0 | 0 | 0 | 0 |
Mortgages | ||||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||||
Reduction In Interest Rate | 13 | 17 | 45 | 55 |
Extension of Maturity Date | 14 | 24 | 35 | 58 |
Combination Interest Rate Reduction Maturity Date Extension | 83 | 134 | 301 | 376 |
Other Modifications | 16 | 43 | 116 | 133 |
Leasing | ||||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||||
Reduction In Interest Rate | 0 | 0 | 0 | 0 |
Extension of Maturity Date | 0 | 1 | 1 | 1 |
Combination Interest Rate Reduction Maturity Date Extension | 1 | 0 | 6 | 0 |
Other Modifications | 0 | 0 | 0 | 0 |
Credit cards | ||||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||||
Reduction In Interest Rate | 140 | 218 | 425 | 603 |
Extension of Maturity Date | 0 | 0 | 0 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 4 | 1 | 5 | 1 |
Other Modifications | 114 | 158 | 424 | 531 |
Home equity lines of credit | ||||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||||
Reduction In Interest Rate | 0 | 0 | 0 | 0 |
Extension of Maturity Date | 0 | 0 | 1 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 2 | 0 | 3 | 2 |
Other Modifications | 0 | 0 | 0 | 1 |
Personal | ||||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||||
Reduction In Interest Rate | 187 | 241 | 699 | 761 |
Extension of Maturity Date | 2 | 6 | 6 | 16 |
Combination Interest Rate Reduction Maturity Date Extension | 1 | 1 | 1 | 1 |
Other Modifications | 2 | 0 | 3 | 1 |
Auto | ||||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||||
Reduction In Interest Rate | 0 | 0 | 0 | 0 |
Extension of Maturity Date | 1 | 4 | 5 | 11 |
Combination Interest Rate Reduction Maturity Date Extension | 2 | 4 | 4 | 8 |
Other Modifications | 0 | 2 | 1 | 2 |
Other | ||||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||||
Reduction In Interest Rate | 11 | 6 | 27 | 27 |
Extension of Maturity Date | 0 | 0 | 1 | 0 |
Combination Interest Rate Reduction Maturity Date Extension | 0 | 0 | 0 | 0 |
Other Modifications | 0 | 0 | 1 | 0 |
Note Allowance for loan loss106
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, 2017USD ($)loans | Sep. 30, 2016USD ($)loans | Sep. 30, 2017USD ($)loans | Sep. 30, 2016USD ($)loans | |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||||
Loan count | loans | 612 | 880 | 2,169 | 2,660 |
Pre-Modification Recorded Investment | $ 25,130 | $ 34,706 | $ 90,432 | $ 116,180 |
Post Modification Recorded Investment | 24,322 | 38,375 | 89,229 | 118,553 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 2,336 | $ 4,134 | $ 8,504 | $ 15,656 |
CRE non-owner occupied | ||||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||||
Loan count | loans | 0 | 3 | 5 | 6 |
Pre-Modification Recorded Investment | $ 0 | $ 469 | $ 2,069 | $ 6,989 |
Post Modification Recorded Investment | 0 | 3,085 | 1,901 | 9,589 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 0 | $ 860 | $ 145 | $ 5,029 |
CRE owner occupied | ||||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||||
Loan count | loans | 3 | 9 | 15 | 43 |
Pre-Modification Recorded Investment | $ 272 | $ 773 | $ 2,975 | $ 11,623 |
Post Modification Recorded Investment | 269 | 1,874 | 2,951 | 11,648 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 29 | $ 136 | $ 172 | $ 473 |
Commercial and industrial | ||||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||||
Loan count | loans | 16 | 8 | 39 | 23 |
Pre-Modification Recorded Investment | $ 1,022 | $ 246 | $ 1,850 | $ 3,832 |
Post Modification Recorded Investment | 1,044 | 301 | 3,967 | 3,884 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 111 | $ 21 | $ 579 | $ 1 |
Mortgages | ||||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||||
Loan count | loans | 126 | 218 | 497 | 622 |
Pre-Modification Recorded Investment | $ 17,692 | $ 25,255 | $ 58,777 | $ 69,591 |
Post Modification Recorded Investment | 16,633 | 24,681 | 54,965 | 67,702 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 1,103 | $ 1,780 | $ 3,343 | $ 5,407 |
Leasing | ||||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||||
Loan count | loans | 1 | 1 | 7 | 1 |
Pre-Modification Recorded Investment | $ 27 | $ 15 | $ 263 | $ 15 |
Post Modification Recorded Investment | 27 | 15 | 262 | 15 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 8 | $ 3 | $ 74 | $ 3 |
Credit cards | ||||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||||
Loan count | loans | 258 | 377 | 854 | 1,135 |
Pre-Modification Recorded Investment | $ 2,881 | $ 3,321 | $ 7,785 | $ 10,352 |
Post Modification Recorded Investment | 3,114 | 3,715 | 8,514 | 11,768 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 375 | $ 450 | $ 1,019 | $ 1,677 |
Home equity lines of credit | ||||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||||
Loan count | loans | 2 | 0 | 4 | 3 |
Pre-Modification Recorded Investment | $ 203 | $ 0 | $ 689 | $ 355 |
Post Modification Recorded Investment | 203 | 0 | 686 | 398 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 23 | $ 0 | $ 36 | $ 216 |
Personal | ||||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||||
Loan count | loans | 192 | 248 | 709 | 779 |
Pre-Modification Recorded Investment | $ 2,945 | $ 4,481 | $ 11,979 | $ 13,089 |
Post Modification Recorded Investment | 2,944 | 4,547 | 11,982 | 13,195 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 673 | $ 853 | $ 2,704 | $ 2,784 |
Auto | ||||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||||
Loan count | loans | 3 | 10 | 10 | 21 |
Pre-Modification Recorded Investment | $ 42 | $ 123 | $ 2,043 | $ 256 |
Post Modification Recorded Investment | 42 | 134 | 1,999 | 274 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 8 | $ 27 | $ 362 | $ 52 |
Other | ||||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||||
Loan count | loans | 11 | 6 | 29 | 27 |
Pre-Modification Recorded Investment | $ 46 | $ 23 | $ 2,002 | $ 78 |
Post Modification Recorded Investment | 46 | 23 | 2,002 | 80 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 6 | $ 4 | $ 70 | $ 14 |
Note Allowance for loan loss107
Note Allowance for loan losses (T D R that subsequently defaulted) (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017USD ($)loans | Sep. 30, 2016USD ($)loans | Sep. 30, 2017USD ($)loans | Sep. 30, 2016USD ($)loans | |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||||
Loan count | loans | 252 | 209 | 538 | 478 |
Recorded investment as of first default date | $ | $ 6,705 | $ 8,720 | $ 19,015 | $ 23,304 |
CRE non-owner occupied | ||||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||||
Loan count | loans | 0 | 0 | 2 | 2 |
Recorded investment as of first default date | $ | $ 0 | $ 0 | $ 457 | $ 327 |
CRE owner occupied | ||||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||||
Loan count | loans | 0 | 3 | 3 | 10 |
Recorded investment as of first default date | $ | $ 0 | $ 773 | $ 1,749 | $ 3,276 |
Commercial and industrial | ||||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||||
Loan count | loans | 1 | 3 | 4 | 5 |
Recorded investment as of first default date | $ | $ 36 | $ 758 | $ 601 | $ 785 |
Mortgages | ||||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||||
Loan count | loans | 48 | 52 | 110 | 132 |
Recorded investment as of first default date | $ | $ 4,216 | $ 5,409 | $ 10,112 | $ 14,132 |
Leasing | ||||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||||
Loan count | loans | 0 | 4 | ||
Recorded investment as of first default date | $ | $ 0 | $ 29 | ||
Credit cards | ||||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||||
Loan count | loans | 135 | 109 | 274 | 221 |
Recorded investment as of first default date | $ | $ 1,212 | $ 1,084 | $ 2,661 | $ 2,259 |
Home equity lines of credit | ||||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||||
Loan count | loans | 0 | 1 | ||
Recorded investment as of first default date | $ | $ 0 | $ 97 | ||
Personal | ||||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||||
Loan count | loans | 67 | 34 | 138 | 93 |
Recorded investment as of first default date | $ | $ 1,222 | $ 623 | $ 3,230 | $ 2,375 |
Auto | ||||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||||
Loan count | loans | 1 | 3 | 5 | 6 |
Recorded investment as of first default date | $ | $ 19 | $ 63 | $ 99 | $ 111 |
Other | ||||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||||
Loan count | loans | 0 | 5 | 1 | 5 |
Recorded investment as of first default date | $ | $ 0 | $ 10 | $ 9 | $ 10 |
Note Allowance for loan loss108
Note Allowance for loan losses (Credit quality indicators of non-covered loans held-in-portfolio based obligor risk ratings) (Detail) $ in Thousands | Sep. 30, 2017USD ($) | Dec. 31, 2016USD ($) | |||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 23,173,450 | [1],[2] | $ 22,773,747 | [3],[4] | |
Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 1,020,841 | 851,514 | |||
Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 662,735 | 653,338 | |||
Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 1,432,614 | 1,404,885 | |||
Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 2,721 | 29,457 | |||
Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 5,610 | 3,460 | |||
Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 3,124,521 | 2,942,654 | |||
Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 20,048,929 | 19,831,093 | |||
Commercial multi-family | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 1,327,738 | 1,238,836 | |||
Commercial multi-family | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 17,165 | 15,553 | |||
Commercial multi-family | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 7,355 | 8,179 | |||
Commercial multi-family | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 12,277 | 6,766 | |||
Commercial multi-family | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Commercial multi-family | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Commercial multi-family | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 36,797 | 30,498 | |||
Commercial multi-family | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 1,290,941 | 1,208,338 | |||
CRE non-owner occupied | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 4,093,990 | 3,921,601 | |||
CRE non-owner occupied | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 418,961 | 367,621 | |||
CRE non-owner occupied | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 373,693 | 387,636 | |||
CRE non-owner occupied | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 359,085 | 343,774 | |||
CRE non-owner occupied | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 155 | |||
CRE non-owner occupied | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
CRE non-owner occupied | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 1,151,739 | 1,099,186 | |||
CRE non-owner occupied | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 2,942,251 | 2,822,415 | |||
CRE owner occupied | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 1,961,057 | 2,035,220 | |||
CRE owner occupied | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 278,495 | 319,755 | |||
CRE owner occupied | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 144,755 | 109,873 | |||
CRE owner occupied | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 342,863 | 370,060 | |||
CRE owner occupied | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 2,248 | 17,788 | |||
CRE owner occupied | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
CRE owner occupied | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 768,361 | 817,476 | |||
CRE owner occupied | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 1,192,696 | 1,217,744 | |||
Commercial and industrial | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 3,844,310 | 3,602,850 | |||
Commercial and industrial | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 271,763 | 139,139 | |||
Commercial and industrial | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 124,791 | 134,207 | |||
Commercial and industrial | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 374,406 | 381,153 | |||
Commercial and industrial | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 473 | 11,514 | |||
Commercial and industrial | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 51 | 12 | |||
Commercial and industrial | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 771,484 | 666,025 | |||
Commercial and industrial | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 3,072,826 | 2,936,825 | |||
Commercial | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 11,227,095 | 10,798,507 | |||
Commercial | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 986,384 | 842,068 | |||
Commercial | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 650,594 | 639,895 | |||
Commercial | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 1,088,631 | 1,101,753 | |||
Commercial | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 2,721 | 29,457 | |||
Commercial | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 51 | 12 | |||
Commercial | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 2,728,381 | 2,613,185 | |||
Commercial | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 8,498,714 | 8,185,322 | |||
Construction | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 823,325 | 776,300 | |||
Construction | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 30,756 | 3,050 | |||
Construction | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 7,744 | 9,858 | |||
Construction | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 50,843 | 18,618 | |||
Construction | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Construction | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Construction | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 89,343 | 31,526 | |||
Construction | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 733,982 | 744,774 | |||
Mortgages | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 6,529,235 | 6,696,361 | |||
Mortgages | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 2,637 | 4,407 | |||
Mortgages | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 3,277 | 1,987 | |||
Mortgages | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 207,474 | 201,801 | |||
Mortgages | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Mortgages | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Mortgages | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 213,388 | 208,195 | |||
Mortgages | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 6,315,847 | 6,488,166 | |||
Legacy | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [5] | 37,508 | 45,293 | ||
Legacy | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 731 | 921 | |||
Legacy | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 467 | 786 | |||
Legacy | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 3,690 | 4,400 | |||
Legacy | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Legacy | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Legacy | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 4,888 | 6,107 | |||
Legacy | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 32,620 | 39,186 | |||
Leasing | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 754,881 | 702,893 | |||
Leasing | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Leasing | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Leasing | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 2,649 | 3,062 | |||
Leasing | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Leasing | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 35 | 0 | |||
Leasing | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 2,684 | 3,062 | |||
Leasing | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 752,197 | 699,831 | |||
Consumer | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 3,801,406 | 3,754,393 | |||
Consumer | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 333 | 1,068 | |||
Consumer | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 653 | 812 | |||
Consumer | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 79,327 | 75,251 | |||
Consumer | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Consumer | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 5,524 | 3,448 | |||
Consumer | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 85,837 | 80,579 | |||
Consumer | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 3,715,569 | 3,673,814 | |||
Credit cards | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 1,083,326 | 1,100,765 | |||
Credit cards | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Credit cards | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Credit cards | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 20,639 | 18,755 | |||
Credit cards | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Credit cards | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Credit cards | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 20,639 | 18,755 | |||
Credit cards | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 1,062,687 | 1,082,010 | |||
Home equity lines of credit | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 202,942 | 260,526 | |||
Home equity lines of credit | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Home equity lines of credit | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Home equity lines of credit | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 7,613 | 2,108 | |||
Home equity lines of credit | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Home equity lines of credit | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 4,395 | 2,839 | |||
Home equity lines of credit | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 12,008 | 4,947 | |||
Home equity lines of credit | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 190,934 | 255,579 | |||
Personal | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 1,528,174 | 1,390,784 | |||
Personal | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 333 | 1,068 | |||
Personal | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 653 | 812 | |||
Personal | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 22,731 | 22,748 | |||
Personal | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Personal | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 717 | 609 | |||
Personal | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 24,434 | 25,237 | |||
Personal | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 1,503,740 | 1,365,547 | |||
Auto | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 822,007 | 826,601 | |||
Auto | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Auto | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Auto | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 12,244 | 12,321 | |||
Auto | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Auto | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 16 | 0 | |||
Auto | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 12,260 | 12,321 | |||
Auto | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 809,747 | 814,280 | |||
Other | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 164,957 | 175,717 | |||
Other | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Other | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Other | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 16,100 | 19,319 | |||
Other | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
Other | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 396 | 0 | |||
Other | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 16,496 | 19,319 | |||
Other | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 148,461 | 156,398 | |||
PUERTO RICO | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 17,118,072 | 17,168,424 | ||
PUERTO RICO | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 901,216 | 764,626 | ||
PUERTO RICO | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 605,002 | 625,888 | ||
PUERTO RICO | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 1,145,462 | 1,203,321 | ||
PUERTO RICO | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 2,721 | 29,457 | ||
PUERTO RICO | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 498 | 12 | ||
PUERTO RICO | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 2,654,899 | 2,623,304 | ||
PUERTO RICO | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 14,463,173 | 14,545,120 | ||
PUERTO RICO | Commercial multi-family | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 146,551 | 174,540 | ||
PUERTO RICO | Commercial multi-family | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 1,477 | 2,016 | ||
PUERTO RICO | Commercial multi-family | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 968 | 383 | ||
PUERTO RICO | Commercial multi-family | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 6,315 | $ 6,108 | ||
Weighted average obligor risk rating | [6] | 11.18 | 11.12 | ||
PUERTO RICO | Commercial multi-family | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 0 | $ 0 | ||
PUERTO RICO | Commercial multi-family | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Commercial multi-family | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 8,760 | 8,507 | ||
PUERTO RICO | Commercial multi-family | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 137,791 | $ 166,033 | ||
Weighted average obligor risk rating | [6] | 5.98 | 5.95 | ||
PUERTO RICO | CRE non-owner occupied | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 2,524,795 | $ 2,564,285 | ||
PUERTO RICO | CRE non-owner occupied | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 375,756 | 310,510 | ||
PUERTO RICO | CRE non-owner occupied | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 329,210 | 377,858 | ||
PUERTO RICO | CRE non-owner occupied | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 321,592 | $ 342,054 | ||
Weighted average obligor risk rating | [6] | 11.07 | 11.07 | ||
PUERTO RICO | CRE non-owner occupied | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 0 | $ 155 | ||
PUERTO RICO | CRE non-owner occupied | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | CRE non-owner occupied | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 1,026,558 | 1,030,577 | ||
PUERTO RICO | CRE non-owner occupied | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 1,498,237 | $ 1,533,708 | ||
Weighted average obligor risk rating | [6] | 7.01 | 6.91 | ||
PUERTO RICO | CRE owner occupied | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 1,672,273 | $ 1,791,475 | ||
PUERTO RICO | CRE owner occupied | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 252,655 | 310,484 | ||
PUERTO RICO | CRE owner occupied | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 141,304 | 109,873 | ||
PUERTO RICO | CRE owner occupied | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 333,947 | $ 360,941 | ||
Weighted average obligor risk rating | [6] | 11.25 | 11.23 | ||
PUERTO RICO | CRE owner occupied | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 2,248 | $ 17,788 | ||
PUERTO RICO | CRE owner occupied | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | CRE owner occupied | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 730,154 | 799,086 | ||
PUERTO RICO | CRE owner occupied | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 942,119 | $ 992,389 | ||
Weighted average obligor risk rating | [6] | 7.16 | 7.09 | ||
PUERTO RICO | Commercial and industrial | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 2,825,992 | $ 2,671,917 | ||
PUERTO RICO | Commercial and industrial | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 268,283 | 136,091 | ||
PUERTO RICO | Commercial and industrial | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 124,237 | 133,270 | ||
PUERTO RICO | Commercial and industrial | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 217,459 | $ 227,360 | ||
Weighted average obligor risk rating | [6] | 11.21 | 11.09 | ||
PUERTO RICO | Commercial and industrial | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 473 | $ 11,514 | ||
PUERTO RICO | Commercial and industrial | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 51 | 12 | ||
PUERTO RICO | Commercial and industrial | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 610,503 | 508,247 | ||
PUERTO RICO | Commercial and industrial | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 2,215,489 | $ 2,163,670 | ||
Weighted average obligor risk rating | [6] | 7.19 | 7.19 | ||
PUERTO RICO | Commercial | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 7,169,611 | $ 7,202,217 | ||
PUERTO RICO | Commercial | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 898,171 | 759,101 | ||
PUERTO RICO | Commercial | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 595,719 | 621,384 | ||
PUERTO RICO | Commercial | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 879,313 | $ 936,463 | ||
Weighted average obligor risk rating | [6] | 11.18 | 11.14 | ||
PUERTO RICO | Commercial | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 2,721 | $ 29,457 | ||
PUERTO RICO | Commercial | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 51 | 12 | ||
PUERTO RICO | Commercial | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 2,375,975 | 2,346,417 | ||
PUERTO RICO | Commercial | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 4,793,636 | $ 4,855,800 | ||
Weighted average obligor risk rating | [6] | 7.11 | 7.06 | ||
PUERTO RICO | Construction | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 87,705 | $ 85,558 | |||
PUERTO RICO | Construction | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 75 | 50 | |||
PUERTO RICO | Construction | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 5,353 | 1,705 | |||
PUERTO RICO | Construction | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 269 | $ 1,668 | |||
Weighted average obligor risk rating | 11.37 | 11 | |||
PUERTO RICO | Construction | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 0 | $ 0 | |||
PUERTO RICO | Construction | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
PUERTO RICO | Construction | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 5,697 | 3,423 | |||
PUERTO RICO | Construction | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 82,008 | $ 82,135 | |||
Weighted average obligor risk rating | 7.73 | 7.67 | |||
PUERTO RICO | Mortgages | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | $ 5,815,505 | $ 5,916,500 | ||
PUERTO RICO | Mortgages | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 2,637 | 4,407 | ||
PUERTO RICO | Mortgages | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 3,277 | 1,987 | ||
PUERTO RICO | Mortgages | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 193,127 | 190,090 | ||
PUERTO RICO | Mortgages | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Mortgages | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Mortgages | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 199,041 | 196,484 | ||
PUERTO RICO | Mortgages | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 5,616,464 | 5,720,016 | ||
PUERTO RICO | Leasing | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 754,881 | 702,893 | ||
PUERTO RICO | Leasing | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Leasing | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Leasing | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 2,649 | 3,062 | ||
PUERTO RICO | Leasing | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Leasing | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 35 | 0 | ||
PUERTO RICO | Leasing | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 2,684 | 3,062 | ||
PUERTO RICO | Leasing | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 752,197 | 699,831 | ||
PUERTO RICO | Consumer | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 3,290,370 | 3,261,256 | ||
PUERTO RICO | Consumer | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 333 | 1,068 | ||
PUERTO RICO | Consumer | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 653 | 812 | ||
PUERTO RICO | Consumer | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 70,104 | 72,038 | ||
PUERTO RICO | Consumer | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Consumer | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 412 | 0 | ||
PUERTO RICO | Consumer | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 71,502 | 73,918 | ||
PUERTO RICO | Consumer | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 3,218,868 | 3,187,338 | ||
PUERTO RICO | Credit cards | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 1,083,246 | 1,100,607 | |||
PUERTO RICO | Credit cards | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
PUERTO RICO | Credit cards | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
PUERTO RICO | Credit cards | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 20,626 | 18,725 | |||
PUERTO RICO | Credit cards | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
PUERTO RICO | Credit cards | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
PUERTO RICO | Credit cards | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 20,626 | 18,725 | |||
PUERTO RICO | Credit cards | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 1,062,620 | 1,081,882 | |||
PUERTO RICO | Home equity lines of credit | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 6,124 | 8,351 | ||
PUERTO RICO | Home equity lines of credit | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Home equity lines of credit | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Home equity lines of credit | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 48 | 185 | ||
PUERTO RICO | Home equity lines of credit | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Home equity lines of credit | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Home equity lines of credit | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 48 | 185 | ||
PUERTO RICO | Home equity lines of credit | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 6,076 | 8,166 | ||
PUERTO RICO | Personal | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 1,214,331 | 1,150,177 | ||
PUERTO RICO | Personal | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 333 | 1,068 | ||
PUERTO RICO | Personal | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 653 | 812 | ||
PUERTO RICO | Personal | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 21,107 | 21,496 | ||
PUERTO RICO | Personal | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Personal | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 0 | 0 | ||
PUERTO RICO | Personal | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 22,093 | 23,376 | ||
PUERTO RICO | Personal | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | [6] | 1,192,238 | 1,126,801 | ||
PUERTO RICO | Auto | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 822,004 | 826,592 | |||
PUERTO RICO | Auto | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
PUERTO RICO | Auto | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
PUERTO RICO | Auto | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 12,244 | 12,321 | |||
PUERTO RICO | Auto | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
PUERTO RICO | Auto | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 16 | 0 | |||
PUERTO RICO | Auto | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 12,260 | 12,321 | |||
PUERTO RICO | Auto | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 809,744 | 814,271 | |||
PUERTO RICO | Other | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 164,665 | 175,529 | |||
PUERTO RICO | Other | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
PUERTO RICO | Other | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
PUERTO RICO | Other | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 16,079 | 19,311 | |||
PUERTO RICO | Other | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
PUERTO RICO | Other | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 396 | 0 | |||
PUERTO RICO | Other | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 16,475 | 19,311 | |||
PUERTO RICO | Other | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 148,190 | 156,218 | |||
UNITED STATES | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 6,055,378 | 5,605,323 | |||
UNITED STATES | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 119,625 | 86,888 | |||
UNITED STATES | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 57,733 | 27,450 | |||
UNITED STATES | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 287,152 | 201,564 | |||
UNITED STATES | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 5,112 | 3,448 | |||
UNITED STATES | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 469,622 | 319,350 | |||
UNITED STATES | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 5,585,756 | 5,285,973 | |||
UNITED STATES | Commercial multi-family | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 1,181,187 | 1,064,296 | |||
UNITED STATES | Commercial multi-family | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 15,688 | 13,537 | |||
UNITED STATES | Commercial multi-family | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 6,387 | 7,796 | |||
UNITED STATES | Commercial multi-family | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 5,962 | $ 658 | |||
Weighted average obligor risk rating | 11 | 11.31 | |||
UNITED STATES | Commercial multi-family | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 0 | $ 0 | |||
UNITED STATES | Commercial multi-family | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Commercial multi-family | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 28,037 | 21,991 | |||
UNITED STATES | Commercial multi-family | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 1,153,150 | $ 1,042,305 | |||
Weighted average obligor risk rating | 7.24 | 7.26 | |||
UNITED STATES | CRE non-owner occupied | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 1,569,195 | $ 1,357,316 | |||
UNITED STATES | CRE non-owner occupied | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 43,205 | 57,111 | |||
UNITED STATES | CRE non-owner occupied | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 44,483 | 9,778 | |||
UNITED STATES | CRE non-owner occupied | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 37,493 | $ 1,720 | |||
Weighted average obligor risk rating | 11.21 | 11.7 | |||
UNITED STATES | CRE non-owner occupied | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 0 | $ 0 | |||
UNITED STATES | CRE non-owner occupied | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | CRE non-owner occupied | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 125,181 | 68,609 | |||
UNITED STATES | CRE non-owner occupied | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 1,444,014 | $ 1,288,707 | |||
Weighted average obligor risk rating | 6.68 | 6.67 | |||
UNITED STATES | CRE owner occupied | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 288,784 | $ 243,745 | |||
UNITED STATES | CRE owner occupied | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 25,840 | 9,271 | |||
UNITED STATES | CRE owner occupied | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 3,451 | 0 | |||
UNITED STATES | CRE owner occupied | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 8,916 | $ 9,119 | |||
Weighted average obligor risk rating | 11.05 | 11.05 | |||
UNITED STATES | CRE owner occupied | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 0 | $ 0 | |||
UNITED STATES | CRE owner occupied | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | CRE owner occupied | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 38,207 | 18,390 | |||
UNITED STATES | CRE owner occupied | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 250,577 | $ 225,355 | |||
Weighted average obligor risk rating | 7.14 | 7.32 | |||
UNITED STATES | Commercial and industrial | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 1,018,318 | $ 930,933 | |||
UNITED STATES | Commercial and industrial | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 3,480 | 3,048 | |||
UNITED STATES | Commercial and industrial | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 554 | 937 | |||
UNITED STATES | Commercial and industrial | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 156,947 | $ 153,793 | |||
Weighted average obligor risk rating | 11.6 | 11.65 | |||
UNITED STATES | Commercial and industrial | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 0 | $ 0 | |||
UNITED STATES | Commercial and industrial | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Commercial and industrial | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 160,981 | 157,778 | |||
UNITED STATES | Commercial and industrial | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 857,337 | $ 773,155 | |||
Weighted average obligor risk rating | 6.15 | 6.15 | |||
UNITED STATES | Commercial | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 4,057,484 | $ 3,596,290 | |||
UNITED STATES | Commercial | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 88,213 | 82,967 | |||
UNITED STATES | Commercial | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 54,875 | 18,511 | |||
UNITED STATES | Commercial | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 209,318 | $ 165,290 | |||
Weighted average obligor risk rating | 11.49 | 11.62 | |||
UNITED STATES | Commercial | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 0 | $ 0 | |||
UNITED STATES | Commercial | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Commercial | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 352,406 | 266,768 | |||
UNITED STATES | Commercial | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 3,705,078 | $ 3,329,522 | |||
Weighted average obligor risk rating | 6.76 | 6.78 | |||
UNITED STATES | Construction | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 735,620 | $ 690,742 | |||
UNITED STATES | Construction | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 30,681 | 3,000 | |||
UNITED STATES | Construction | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 2,391 | 8,153 | |||
UNITED STATES | Construction | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 50,574 | $ 16,950 | |||
Weighted average obligor risk rating | 11 | 11 | |||
UNITED STATES | Construction | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 0 | $ 0 | |||
UNITED STATES | Construction | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Construction | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 83,646 | 28,103 | |||
UNITED STATES | Construction | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 651,974 | $ 662,639 | |||
Weighted average obligor risk rating | 7.68 | 7.67 | |||
UNITED STATES | Mortgages | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 713,730 | $ 779,861 | |||
UNITED STATES | Mortgages | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Mortgages | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Mortgages | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 14,347 | 11,711 | |||
UNITED STATES | Mortgages | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Mortgages | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Mortgages | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 14,347 | 11,711 | |||
UNITED STATES | Mortgages | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 699,383 | 768,150 | |||
UNITED STATES | Legacy | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 37,508 | 45,293 | |||
UNITED STATES | Legacy | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 731 | 921 | |||
UNITED STATES | Legacy | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 467 | 786 | |||
UNITED STATES | Legacy | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 3,690 | $ 4,400 | |||
Weighted average obligor risk rating | 11.12 | 11.1 | |||
UNITED STATES | Legacy | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 0 | $ 0 | |||
UNITED STATES | Legacy | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Legacy | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 4,888 | 6,107 | |||
UNITED STATES | Legacy | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 32,620 | $ 39,186 | |||
Weighted average obligor risk rating | 7.93 | 7.91 | |||
UNITED STATES | Consumer | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 511,036 | $ 493,137 | |||
UNITED STATES | Consumer | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Consumer | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Consumer | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 9,223 | 3,213 | |||
UNITED STATES | Consumer | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Consumer | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 5,112 | 3,448 | |||
UNITED STATES | Consumer | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 14,335 | 6,661 | |||
UNITED STATES | Consumer | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 496,701 | 486,476 | |||
UNITED STATES | Credit cards | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 80 | 158 | |||
UNITED STATES | Credit cards | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Credit cards | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Credit cards | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 13 | 30 | |||
UNITED STATES | Credit cards | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Credit cards | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Credit cards | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 13 | 30 | |||
UNITED STATES | Credit cards | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 67 | 128 | |||
UNITED STATES | Home equity lines of credit | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 196,818 | 252,175 | |||
UNITED STATES | Home equity lines of credit | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Home equity lines of credit | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Home equity lines of credit | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 7,565 | 1,923 | |||
UNITED STATES | Home equity lines of credit | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Home equity lines of credit | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 4,395 | 2,839 | |||
UNITED STATES | Home equity lines of credit | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 11,960 | 4,762 | |||
UNITED STATES | Home equity lines of credit | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 184,858 | 247,413 | |||
UNITED STATES | Personal | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 313,843 | 240,607 | |||
UNITED STATES | Personal | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Personal | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Personal | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 1,624 | 1,252 | |||
UNITED STATES | Personal | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Personal | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 717 | 609 | |||
UNITED STATES | Personal | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 2,341 | 1,861 | |||
UNITED STATES | Personal | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 311,502 | 238,746 | |||
UNITED STATES | Auto | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 3 | 9 | |||
UNITED STATES | Auto | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Auto | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Auto | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Auto | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Auto | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Auto | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Auto | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 3 | 9 | |||
UNITED STATES | Other | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 292 | 188 | |||
UNITED STATES | Other | Watch | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Other | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Other | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 21 | 8 | |||
UNITED STATES | Other | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Other | Loss | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 0 | 0 | |||
UNITED STATES | Other | Sub-total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | 21 | 8 | |||
UNITED STATES | Other | Pass / Unrated | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans held-in-portfolio, net of unearned income | $ 271 | $ 180 | |||
[1] | 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 $4.7 billion were pledged at the Federal Home Loan Bank ("FHLB") as collateral for borrowings, $2.2 billion at the Federal Reserve Bank ("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 $129 million in unearned income and exclude $69 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 $4.5 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. | ||||
[4] | Non-covered loans held-in-portfolio are net of $121 million in unearned income and exclude $89 million in loans held-for-sale. | ||||
[5] | The legacy portfolio is comprised of commercial loans, construction loans and lease financings related to certain lending products exited by the Corporation as part of restructuring efforts carried out in prior years at the BPNA segment. | ||||
[6] | Excludes covered loans acquired in the Westernbank FDIC-assisted transaction. |
Note Allowance for loan loss109
Note Allowance for loan losses (Allowance for loan losses - Additional Information) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Financing Receivable, Modifications [Line Items] | ||||
Recent Loss Trend Adjustment | 12-months | |||
Provision for Loan and Lease Losses | $ 253,936 | $ 128,651 | ||
Hurricanes | ||||
Financing Receivable, Modifications [Line Items] | ||||
Provision for Loan and Lease Losses | $ 69,887 | |||
Banco Popular North America | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recent Loss Trend Adjustment Percentage | 5.00% | 4.00% | ||
Non Covered Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructurings | 1,263,875 | $ 1,263,875 | $ 1,246,577 | |
Non Covered Loans | Banco Popular de Puerto Rico | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recent Loss Trend Adjustment Percentage | 45.00% | 49.00% | ||
Commercial | Non Covered Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructurings | 229,841 | $ 229,841 | 260,044 | |
Mortgage and consumer | ||||
Financing Receivable, Modifications [Line Items] | ||||
Historical Loss Period | 18-months | |||
Commercial and construction | ||||
Financing Receivable, Modifications [Line Items] | ||||
Historical Loss Period | 5-year | |||
Mortgages | Non Covered Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructurings | 924,902 | $ 924,902 | 871,997 | |
Mortgages | Non Covered Loans | Guaranteed By US Sponsored Entities | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructurings | 444,000 | 444,000 | 407,000 | |
Loan | Commercial | ||||
Financing Receivable, Modifications [Line Items] | ||||
Outstanding commitments to lend additional funds to debtors owing receivables whose terms have been modified in troubled debt restructurings | $ 8,000 | $ 8,000 | $ 8,000 |
Note FDIC loss share asset (Act
Note FDIC loss share asset (Activity in the FDIC loss share indemnification asset) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | ||||||
Disclosure Activity In The F D I C Loss Share Indemnification Asset [Abstract] | ||||||||||
Beginning Balance | $ 53,070 | $ 218,122 | $ 69,334 | $ 310,221 | ||||||
Accretion of loss share indemnification asset, net | 567 | (1,259) | (62) | (9,337) | ||||||
Credit impairment losses (reversal) to be covered under loss sharing agreements | [1] | (329) | 659 | 1,945 | (959) | |||||
Reimbursable expenses | 588 | 853 | 2,232 | 7,038 | ||||||
Net payment from FDIC under loss-sharing agreements | (4,502) | (10,897) | (18,505) | (99,485) | ||||||
Arbitration decision charge | 0 | (54,924) | 0 | (54,924) | ||||||
Other adjustments attributable to FDIC loss sharing agreements | 0 | (87) | (5,550) | (87) | ||||||
Ending Balance | 49,394 | 152,467 | 49,394 | 152,467 | ||||||
Balance due to the FDIC for recoveries on covered assets | (924) | [2] | (7,080) | [2] | (924) | [2] | (7,080) | [2] | $ (27,600) | |
FDIC loss-share asset net | $ 48,470 | $ 145,387 | $ 48,470 | $ 145,387 | ||||||
[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] | Balance due to the FDIC for recoveries on covered assets for the quarter and nine months ended September 30, 2016 amounting to $ 7.1 million was included in other liabilities in the accompanying Consolidated Statement of Condition (December 31, 2016 - $27.6 million). |
Note FDIC loss share asset (111
Note FDIC loss share asset (Activity in the FDIC loss share indemnification asset) (Parenthetical) (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | ||
Disclosure Activity In The F D I C Loss Share Indemnification Asset [Abstract] | |||||
Balance due to the FDIC for recoveries on covered assets | $ 924 | [1] | $ 27,600 | $ 7,080 | [1] |
[1] | Balance due to the FDIC for recoveries on covered assets for the quarter and nine months ended September 30, 2016 amounting to $ 7.1 million was included in other liabilities in the accompanying Consolidated Statement of Condition (December 31, 2016 - $27.6 million). |
Note FDIC loss share asset (Fai
Note FDIC loss share asset (Fair value and the undiscounted amount of the true-up payment obligation) (Detail) - FDIC - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Business Acquisition, Contingent Consideration [Line Items] | ||
Carrying amount (fair value) | $ 166,876 | $ 153,158 |
Undiscounted amount | $ 188,660 | $ 188,258 |
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, 2017USD ($)D | Sep. 30, 2016USD ($) | Sep. 30, 2017USD ($)D | Sep. 30, 2016USD ($) | Dec. 31, 2016 | |
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 | ||||
Fair Value Inputs Discount Rate | 4.72% | 5.97% | |||
Arbitration decision charge | 0 | $ 54,924 | $ 0 | $ 54,924 | |
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% | ||||
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 |
Note Mortgage banking activitie
Note Mortgage banking activities (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Mortgage servicing rights fair value adjustments | $ (24,262) | $ (18,879) | ||
Net gain on sale of loans, including valuation adjustments on loans held-for-sale | $ (420) | $ 8,549 | (420) | 8,245 |
Trading Gains (Losses) | 253 | (113) | (680) | 842 |
Mortgage banking activities | 5,239 | 15,272 | 27,349 | 42,050 |
Mortgage Banking Activities | ||||
Mortgage servicing fees | 12,012 | 14,520 | 38,485 | 43,997 |
Mortgage servicing rights fair value adjustments | (10,262) | (6,062) | (24,262) | (18,879) |
Servicing Fees Net | 1,750 | 8,458 | 14,223 | 25,118 |
Net gain on sale of loans, including valuation adjustments on loans held-for-sale | 4,244 | 8,857 | 16,875 | 24,441 |
Unrealized gains (losses) on outstanding derivative positions | (147) | 95 | (104) | (44) |
Realized (losses) on closed derivative positions | (608) | (2,138) | (3,645) | (7,465) |
Trading Gains (Losses) | (755) | (2,043) | (3,749) | (7,509) |
Mortgage banking activities | $ 5,239 | $ 15,272 | $ 27,349 | $ 42,050 |
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, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | $ 108,091 | $ 213,348 | $ 461,273 | $ 601,329 |
GNMA | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 136,000 | 170,000 | 283,000 | 304,000 |
FNMA | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 21,000 | 43,000 | 86,000 | 79,000 |
Trading account securities | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 102,174 | 184,829 | 438,458 | 568,270 |
Trading account securities | GNMA | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 85,722 | 140,255 | 368,660 | 444,382 |
Trading account securities | FNMA | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 16,452 | 44,574 | 69,798 | 123,888 |
Mortgage Servicing Rights | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 1,588 | 2,695 | 6,766 | 7,235 |
Available For Sale Securities | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 4,329 | 25,824 | 16,049 | 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 | 4,329 | 5,138 | 16,049 | 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 | 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 | 0 | 0 |
Level 2 | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 106,503 | 210,653 | 454,507 | 594,094 |
Level 2 | Trading account securities | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 102,174 | 184,829 | 438,458 | 568,270 |
Level 2 | Trading account securities | GNMA | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 85,722 | 140,255 | 368,660 | 444,382 |
Level 2 | Trading account securities | FNMA | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 16,452 | 44,574 | 69,798 | 123,888 |
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 | 4,329 | 25,824 | 16,049 | 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 | 4,329 | 5,138 | 16,049 | 5,138 |
Level 3 | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 1,588 | 2,695 | 6,766 | 7,235 |
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 | 1,588 | 2,695 | 6,766 | 7,235 |
Level 3 | Available For Sale Securities | ||||
Assets | ||||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 0 | 0 | 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 | $ 0 | $ 0 |
Note Transfers of financial 116
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, 2017 | Sep. 30, 2016 | ||
Transfers and Servicing of Financial Assets | |||
Fair value at beginning of period | $ 196,889 | $ 211,405 | |
Additions | 7,530 | 7,843 | |
Changes due to payments of loans | [1] | (12,794) | (13,381) |
Reduction due to loan repurchases | (1,605) | (1,183) | |
Changes in fair value due to changes in valuation model inputs or assumptions | (9,863) | (4,315) | |
Other disposals | 0 | (15) | |
Fair value at end of period | $ 180,157 | $ 200,354 | |
[1] | Represents the change due to collection / realization of expected cash flow over time. |
Note Transfers of financial 117
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, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ||||
Prepayment speed | 4.90% | 4.60% | 4.30% | 5.20% |
Weighted average life (in years) | 10 years 6 months | 10 years 7 months | 10 years 11 months | 10 years 1 month |
Discount rate (annual rate) | 10.90% | 11.00% | 10.90% | 11.00% |
Note Transfers of financial 118
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, 2017 | Dec. 31, 2016 | |
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 | $ 77,786 | $ 88,056 |
Weighted average life | 7 years 2 months | 7 years 10 months |
Weighted average prepayment speed (annual rate) | 5.40% | 4.60% |
Impact on fair value of 10% adverse change | $ (1,931) | $ (1,668) |
Impact on fair value of 20% adverse change | $ (3,796) | $ (3,590) |
Weighted average discount rate (annual rate) | 11.50% | 11.50% |
Impact on fair value of 10% adverse change | $ (3,626) | $ (3,851) |
Impact on fair value of 20% adverse change | (6,982) | (7,699) |
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 | $ 102,371 | $ 108,833 |
Weighted average life | 6 years 5 months | 6 years 11 months |
Weighted average prepayment speed (annual rate) | 6.00% | 4.80% |
Impact on fair value of 10% adverse change | $ (2,637) | $ (2,051) |
Impact on fair value of 20% adverse change | $ (5,172) | $ (4,400) |
Weighted average discount rate (annual rate) | 11.00% | 11.00% |
Impact on fair value of 10% adverse change | $ (4,484) | $ (4,369) |
Impact on fair value of 20% adverse change | $ (8,640) | $ (8,778) |
Note Transfers of financial 119
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, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items] | |||||
Weighted average mortgage servicing fees | 0.29% | 0.29% | 0.29% | 0.29% | |
Mortgage loans related to buy-back option program | $ 23,302,047 | $ 23,302,047 | $ 22,895,172 | ||
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 | 1,500,000 | $ 1,500,000 | 1,700,000 | ||
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 | 92,000 | 92,000 | 49,000 | ||
Repurchased Loans | 113,000 | 67,000 | |||
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 | 3,900 | 8,400 | 15,000 | 22,600 | |
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 | 49,000 | 46,000 | 49,000 | 46,000 | |
Securitization Financial Asset For Which Transfer Is Accounted As Sale Gain Loss On Sale | 1,800 | 1,900 | |||
Loans serviced | 17,100,000 | 17,100,000 | $ 18,000,000 | ||
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 | $ 7,000 | $ 11,000 | $ 22,000 | $ 34,000 |
Note Other Real Estate Owned (D
Note Other Real Estate Owned (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |||
Other Real Estate Owned Rollforward [Line Items] | ||||||
Other Real Estate Owned Beginning Balance | $ 206,446 | $ 215,009 | $ 212,573 | $ 191,916 | ||
Other Real Estate Owned Write Downs | (5,792) | (3,781) | (22,376) | (10,555) | ||
Additions | 21,211 | 33,955 | 87,964 | 102,690 | ||
Other Real Estate Owned Sales | (23,323) | (22,721) | (78,959) | (59,160) | ||
Other adjustments | (269) | (220) | (929) | (2,649) | ||
Other Real Estate Owned Ending Balance | 198,273 | 222,242 | 198,273 | 222,242 | ||
Non-covered loans | Mortgages | ||||||
Other Real Estate Owned Rollforward [Line Items] | ||||||
Other Real Estate Owned Beginning Balance | 157,147 | 152,915 | 160,044 | 122,760 | ||
Other Real Estate Owned Write Downs | (2,856) | [1] | (2,859) | (14,715) | [2] | (6,489) |
Additions | 18,669 | 27,355 | 69,585 | 83,255 | ||
Other Real Estate Owned Sales | (18,185) | (13,866) | (61,068) | (34,769) | ||
Other adjustments | 467 | 92 | 1,396 | (1,120) | ||
Other Real Estate Owned Ending Balance | 155,242 | 163,637 | 155,242 | 163,637 | ||
Non-covered loans | Commercial / Construction | ||||||
Other Real Estate Owned Rollforward [Line Items] | ||||||
Other Real Estate Owned Beginning Balance | 23,949 | 24,110 | 20,401 | 32,471 | ||
Other Real Estate Owned Write Downs | (2,702) | [1] | (255) | (4,681) | [2] | (2,533) |
Additions | 982 | 2,388 | 8,604 | 5,500 | ||
Other Real Estate Owned Sales | (743) | (5,052) | (2,707) | (13,632) | ||
Other adjustments | 0 | 0 | (131) | (615) | ||
Other Real Estate Owned Ending Balance | 21,486 | 21,191 | 21,486 | 21,191 | ||
Covered loans | Mortgages | ||||||
Other Real Estate Owned Rollforward [Line Items] | ||||||
Other Real Estate Owned Beginning Balance | 25,350 | 37,984 | 32,128 | 36,685 | ||
Other Real Estate Owned Write Downs | (234) | (667) | (2,980) | (1,533) | ||
Additions | 1,560 | 4,212 | 9,775 | 13,935 | ||
Other Real Estate Owned Sales | (4,395) | (3,803) | (15,184) | (10,759) | ||
Other adjustments | (736) | (312) | (2,194) | (914) | ||
Other Real Estate Owned Ending Balance | $ 21,545 | $ 37,414 | $ 21,545 | $ 37,414 | ||
[1] | Includes $2.7 million related to the damages from Hurricane Maria, of which $1.3 million were for commercial and $1.4 million for residential. | |||||
[2] | Includes $2.7 million related to the damages from Hurricane Maria, of which $1.3 million were for commercial and $1.4 million for residential. |
Note Other Real Estate Owned (P
Note Other Real Estate Owned (Parenthetical) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Other Real Estate Owned Rollforward [Line Items] | ||||
Other Real Estate Owned Write Downs | $ 5,792 | $ 3,781 | $ 22,376 | $ 10,555 |
Hurricanes | ||||
Other Real Estate Owned Rollforward [Line Items] | ||||
Other Real Estate Owned Write Downs | 2,700 | 2,700 | ||
Hurricanes | Mortgages | ||||
Other Real Estate Owned Rollforward [Line Items] | ||||
Other Real Estate Owned Write Downs | 1,400 | 1,400 | ||
Hurricanes | Commercial | ||||
Other Real Estate Owned Rollforward [Line Items] | ||||
Other Real Estate Owned Write Downs | $ 1,300 | $ 1,300 |
Note Other assets by major cate
Note Other assets by major categories (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 |
Other Assets | |||
Net deferred tax assets (net of valuation allowance) | $ 1,207,597 | $ 1,243,668 | |
Investments under the equity method | 210,067 | 218,062 | |
Prepaid taxes | 164,531 | 172,550 | |
Other prepaid expenses | 87,136 | 90,320 | |
Derivative assets | 14,234 | 14,094 | |
Trades receivables from brokers and counterparties | 999 | 46,630 | $ 80,125 |
Receivables from investment maturities | 270,000 | 0 | $ 0 |
Principal, interest and escrow servicing advances | 71,167 | 69,711 | |
Guaranteed mortgage loan claims receivable | 174,964 | 152,403 | |
Others | 129,232 | 138,081 | |
Total other assets | 2,329,927 | 2,145,510 | |
Other Assets | |||
Other Assets | |||
Derivative assets | $ 14,234 | $ 14,085 |
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, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Goodwill [Line Items] | ||||
Beginning Balance | $ 627,294 | $ 626,388 | ||
Goodwill on acquisition | 0 | 0 | ||
Purchase accounting adjustments | 0 | 4,707 | ||
Goodwill impairment charge | $ 0 | $ (3,801) | 0 | (3,801) |
Ending Balance | 627,294 | 627,294 | 627,294 | 627,294 |
Banco Popular de Puerto Rico | ||||
Goodwill [Line Items] | ||||
Beginning Balance | 276,420 | 280,221 | ||
Goodwill on acquisition | 0 | 0 | ||
Purchase accounting adjustments | 0 | 0 | ||
Goodwill impairment charge | (3,801) | 0 | (3,801) | |
Ending Balance | 276,420 | 276,420 | 276,420 | 276,420 |
Banco Popular North America | ||||
Goodwill [Line Items] | ||||
Beginning Balance | 350,874 | 346,167 | ||
Goodwill on acquisition | 0 | 0 | ||
Purchase accounting adjustments | 0 | 4,707 | ||
Goodwill impairment charge | 0 | 0 | 0 | |
Ending Balance | $ 350,874 | $ 350,874 | $ 350,874 | $ 350,874 |
Note Goodwill and other inta124
Note Goodwill and other intangible assets (Components of other intangible assets subject to amortization) (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Finite-Lived Intangible Assets [Line Items] | ||
Gross Amount | $ 73,673 | $ 73,723 |
Finite Lived Intangible Assets Accumulated Amortization | 41,820 | 34,786 |
Finite-Lived Intangible Assets, Net | 31,853 | 38,937 |
Core deposits | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Core Deposits, Gross | 37,224 | 37,274 |
Finite Lived Intangible Assets Accumulated Amortization | 21,416 | 18,624 |
Finite-Lived Intangible Assets, Net | 15,808 | 18,650 |
Other customer relationship | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Customer Relationships, Gross | 36,449 | 36,449 |
Finite Lived Intangible Assets Accumulated Amortization | 20,404 | 16,162 |
Finite-Lived Intangible Assets, Net | $ 16,045 | $ 20,287 |
Note Goodwill and other inta125
Note Goodwill and other intangible assets (Estimated amortization of the intangible assets with definite useful lives) (Detail) $ in Thousands | Sep. 30, 2017USD ($) |
Disclosure - Estimated Amortization of the Intangible Assets with Definite Useful Lives [Abstract] | |
Remaining 2,017 | $ 2,344 |
Year 2,018 | 9,286 |
Year 2,019 | 9,042 |
Year 2,020 | 4,967 |
Year 2,021 | 2,157 |
Year 2,022 | 1,281 |
Later years | $ 2,776 |
Note Goodwill and other inta126
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, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Dec. 31, 2015 |
Goodwill [Line Items] | ||||
Goodwill Gross | $ 795,506 | $ 795,506 | $ 790,799 | |
Goodwill Impaired Accumulated Impairment Loss | 168,212 | 168,212 | 164,411 | |
Goodwill (net amounts) | 627,294 | 627,294 | $ 627,294 | 626,388 |
Banco Popular de Puerto Rico | ||||
Goodwill [Line Items] | ||||
Goodwill Gross | 280,221 | 280,221 | 280,221 | |
Goodwill Impaired Accumulated Impairment Loss | 3,801 | 3,801 | 0 | |
Goodwill (net amounts) | 276,420 | 276,420 | 276,420 | 280,221 |
Banco Popular North America | ||||
Goodwill [Line Items] | ||||
Goodwill Gross | 515,285 | 515,285 | 510,578 | |
Goodwill Impaired Accumulated Impairment Loss | 164,411 | 164,411 | 164,411 | |
Goodwill (net amounts) | $ 350,874 | $ 350,874 | $ 350,874 | $ 346,167 |
Note Goodwill and other inta127
Note Goodwill and other intangible assets - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2017 | Sep. 30, 2016 | Jun. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | Jul. 31, 2017 | |
Goodwill and Intangible Assets Disclosure [Line Items] | |||||||
Indefinite Lived Intangible Assets | $ 6,100 | $ 6,100 | $ 6,100 | ||||
Amortization Of Intangible Assets | $ 2,345 | $ 3,097 | 7,034 | $ 9,308 | |||
Goodwill Purchase Accounting Adjustments | 0 | 4,707 | |||||
Goodwil, Acquired During Period | $ 0 | 0 | |||||
Fair Value Inputs Discount Rate | 4.72% | 5.97% | |||||
FDIC Assisted Partial Acquisition Of Doral Bank | |||||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||||
Goodwill Purchase Accounting Adjustments | $ 4,700 | ||||||
Goodwil, Acquired During Period | $ 167,800 | ||||||
Maximum | |||||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||||
Fair Value Inputs Discount Rate | 14.49% | ||||||
Minimum | |||||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||||
Fair Value Inputs Discount Rate | 11.58% | ||||||
Banco Popular de Puerto Rico and Banco Popular North America | |||||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||||
Percentage Of Goodwill | 98.00% | ||||||
BPNA | |||||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||||
Step 1 Fair Value Excess Over Carrying Amount | $ 183,000 | ||||||
Percentage excess of fair value of reporting unit over equity value | 11.00% | ||||||
BPPR | |||||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||||
Goodwill Purchase Accounting Adjustments | $ 0 | 0 | |||||
Step 1 Fair Value Excess Over Carrying Amount | $ 871,000 | ||||||
Percentage excess of fair value of reporting unit over equity value | 26.00% | ||||||
Goodwil, Acquired During Period | $ 0 | $ 0 |
Note Deposits (Total interest b
Note Deposits (Total interest bearing deposits) (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Deposits Abstract | ||
Savings accounts | $ 8,348,091 | $ 7,793,533 |
NOW, money market abd other interest bearing demand deposits | 10,838,465 | 8,012,706 |
Total savings, NOW, money market and other interest bearing demand deposits | 19,186,556 | 15,806,239 |
Time Deposits Abstract | ||
$100000 | 3,549,599 | 3,570,956 |
$100,000 and over | 4,062,924 | 4,138,586 |
Total certificates of deposit | 7,612,523 | 7,709,542 |
Total interest bearing deposits | $ 26,799,079 | $ 23,515,781 |
Note Deposits (Summary of certi
Note Deposits (Summary of certificates of deposit by maturity) (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Deposits Abstract | ||
2,017 | $ 1,784,658 | |
2,018 | 2,421,822 | |
2,019 | 1,047,982 | |
2,020 | 1,079,172 | |
2,021 | 727,779 | |
2022 and thereafter | 551,110 | |
Total certificates of deposit | $ 7,612,523 | $ 7,709,542 |
Note Deposits - Additional Info
Note Deposits - Additional Information (Detail) - USD ($) $ in Millions | Sep. 30, 2017 | Dec. 31, 2016 |
Deposits Abstract | ||
Brokered deposit | $ 600 | $ 600 |
Deposit Liabilities Reclassified As Loans Receivable | $ 16 | $ 6 |
Note Borrowings (Composition of
Note Borrowings (Composition of federal funds purchased and assets sold under agreements to repurchase) (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Federal Funds Purchased and Securities Sold under Agreements to Repurchase | ||
Assets sold under agreements to repurchase | $ 374,405 | $ 479,425 |
Note Borrowings (Federal funds
Note Borrowings (Federal funds purchased and repurchase Agreements) (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | $ 374,405 | $ 479,425 |
Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 374,405 | 479,425 |
US Treasury Securities | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 265,117 | 52,519 |
US Treasury Securities | Within 30 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 69,030 | 32,700 |
US Treasury Securities | After 30 to 90 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 53,781 | 0 |
US Treasury Securities | After 90 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 142,306 | 19,819 |
Obligations of U.S. Government sponsored entities | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 66,235 | 263,399 |
Obligations of U.S. Government sponsored entities | Within 30 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 0 | 95,720 |
Obligations of U.S. Government sponsored entities | After 30 to 90 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 30,835 | 142,299 |
Obligations of U.S. Government sponsored entities | After 90 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 35,400 | 25,380 |
Mortgage Backed Securities | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 31,383 | 152,220 |
Mortgage Backed Securities | Within 30 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 0 | 39,108 |
Mortgage Backed Securities | After 30 to 90 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 0 | 58,552 |
Mortgage Backed Securities | After 90 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 31,383 | 54,560 |
Collateralized Mortgage Obligations | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | 11,670 | 11,287 |
Collateralized Mortgage Obligations | Within 30 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | $ 11,670 | $ 11,287 |
Note Borrowings (Other short-te
Note Borrowings (Other short-term borrowings) (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Short-term Debt [Line Items] | ||
Others | $ 1,200 | $ 1,200 |
Total other short-term borrowings | 240,598 | 1,200 |
Maturity fixed rate advances ranging from 1.32% to 1.44% | ||
Short-term Debt [Line Items] | ||
Federal Home Loan Bank Advances Short Term | $ 239,398 | $ 0 |
Note Borrowings (Other short134
Note Borrowings (Other short-term borrowings) (Parenthetical) (Detail) | Sep. 30, 2017 |
Maximum | |
Short-term Debt [Line Items] | |
Advances with the FHLB, interest rate | 1.44% |
Minimum | |
Short-term Debt [Line Items] | |
Advances with the FHLB, interest rate | 1.32% |
Note Borrowings (Notes payable)
Note Borrowings (Notes payable) (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Debt Instrument [Line Items] | ||
Others | $ 17,294 | $ 18,071 |
Notes payable | 1,532,061 | 1,574,852 |
Advances due 2017 To 2029 with fixed Rates 0.81% to 4.19% | ||
Debt Instrument [Line Items] | ||
Advances with the FHLB | 569,889 | 608,193 |
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 | 34,164 |
Floating Rate from 0.09% to 0.24% over the 3 month LIBOR with maturities ranging from 2018 to 2019 | ||
Debt Instrument [Line Items] | ||
Advances with the FHLB | 25,019 | 30,313 |
Fixed Rate 7.00% Percent Notes Due July 2019 paying interest semiannually, net of debt issuance costs of $3,648 for 2017 and $5,212 for 2016 | ||
Debt Instrument [Line Items] | ||
Long Term Debt | 446,351 | 444,788 |
Fixed Rate 6.125% to 8.327% Junior Subordinated Deferrable Interest Debentures Due 2027 to 2034, net of debt issuance costs of $456 for 2017 and $476 for 2016 | ||
Debt Instrument [Line Items] | ||
Long Term Debt | $ 439,344 | $ 439,323 |
Note Borrowings (Notes payab136
Note Borrowings (Notes payable) (Parenthetical) (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Dec. 31, 2016 | |
Maximum | ||
Debt Instrument [Line Items] | ||
Advances with the FHLB, interest rate | 1.44% | |
Minimum | ||
Debt Instrument [Line Items] | ||
Advances with the FHLB, interest rate | 1.32% | |
Advances due 2017 To 2029 with fixed Rates 0.81% to 4.19% | ||
Debt Instrument [Line Items] | ||
Advances with the FHLB, earliest maturity | 2,017 | |
Advances with the FHLB, latest maturity | 2,029 | |
Advances due 2017 To 2029 with fixed Rates 0.81% to 4.19% | Maximum | ||
Debt Instrument [Line Items] | ||
Advances with the FHLB, interest rate | 4.19% | |
Advances due 2017 To 2029 with fixed Rates 0.81% to 4.19% | Minimum | ||
Debt Instrument [Line Items] | ||
Advances with the FHLB, interest rate | 0.81% | |
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 0.09% to 0.24% over the 3 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 0.09% to 0.24% over the 3 month LIBOR with maturities ranging from 2018 to 2019 | Maximum | ||
Debt Instrument [Line Items] | ||
Advances with the FHLB, interest rate | 0.24% | |
Floating Rate from 0.09% to 0.24% over the 3 month LIBOR with maturities ranging from 2018 to 2019 | Minimum | ||
Debt Instrument [Line Items] | ||
Advances with the FHLB, interest rate | 0.09% | |
Fixed Rate 7.00% Percent Notes Due July 2019 paying interest semiannually, net of debt issuance costs of $3,648 for 2017 and $5,212 for 2016 | ||
Debt Instrument [Line Items] | ||
Interest Rate Percentage | 7.00% | |
Senior Debt Maturity Year | 2,019 | |
Debt issuance costs line of credit arrangements net | $ 3,648 | $ 5,212 |
Fixed Rate 6.125% to 8.327% Junior Subordinated Deferrable Interest Debentures Due 2027 to 2034, net of debt issuance costs of $456 for 2017 and $476 for 2016 | ||
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 | $ 456 | $ 476 |
Fixed Rate 6.125% to 8.327% Junior Subordinated Deferrable Interest Debentures Due 2027 to 2034, net of debt issuance costs of $456 for 2017 and $476 for 2016 | 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 $456 for 2017 and $476 for 2016 | 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, 2017USD ($) |
Debt Disclosure [Line Items] | |
2,017 | $ 403,449 |
2,018 | 464,176 |
2,019 | 608,530 |
2,020 | 112,088 |
2,021 | 21,694 |
Later years | 537,127 |
Borrowed Funds | 2,147,064 |
Assets Sold Under Agreements To Repurchase | |
Debt Disclosure [Line Items] | |
2,017 | 165,315 |
2,018 | 209,090 |
2,019 | 0 |
2,020 | 0 |
2,021 | 0 |
Later years | 0 |
Borrowed Funds | 374,405 |
Other Short Term Borrowings | |
Debt Disclosure [Line Items] | |
2,017 | 205,598 |
2,018 | 35,000 |
2,019 | 0 |
2,020 | 0 |
2,021 | 0 |
Later years | 0 |
Borrowed Funds | 240,598 |
Notes Payable | |
Debt Disclosure [Line Items] | |
2,017 | 32,536 |
2,018 | 220,086 |
2,019 | 608,530 |
2,020 | 112,088 |
2,021 | 21,694 |
Later years | 537,127 |
Borrowed Funds | $ 1,532,061 |
Note Borrowings (Additional Inf
Note Borrowings (Additional Information) (Detail) - USD ($) $ in Millions | Sep. 30, 2017 | Dec. 31, 2016 |
Debt Disclosure [Line Items] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Maximum Amount Available | $ 3,900 | $ 3,800 |
Federal Home Loan Bank Advances And Letters Of Credit Amount Used | 868 | 673 |
Federal Reserve Bank Advances | ||
Debt Disclosure [Line Items] | ||
Line Of Credit Facility Current Borrowing Capacity | 1,200 | $ 1,200 |
Line Of Credit Facility Capacity Available For Specific Purpose Other Than For Trade Purchases | $ 200 |
Note Offsetting of financial as
Note Offsetting of financial assets and liabilities (Offsetting of financial assets) (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Derivative Asset Fair Value Net | ||
Derivatives gross amount of recognized asset | $ 14,234 | $ 14,094 |
Derivatives gross amount offset in the statement of financial position | 0 | 0 |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | 14,234 | 14,094 |
Derivatives gross amount not offset financial instruments | 33 | 551 |
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 | 14,201 | 13,543 |
Securities Purchased Under Agreements To Resell Amount Offset Against Collateral | ||
Reverse repurchase agreement gross amount of recognized asset | 23,637 | |
Reverse repurchase agreement gross amount offset in the statement of financial position | 0 | |
Securities Purchased Under Agreements To Resell | 0 | 23,637 |
Reverse repurchase agreement gross amount not offset financial instrument | 0 | |
Reverse repurchase agreement gross amount not offset securities collateral received | 23,637 | |
Reverse repurchase agreement gross amount not offset cash collateral received | 0 | |
Securities Purchased under Agreements to Resell, Amount Offset Against Collateral, Total | 0 | |
Offsetting Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed [Abstract] | ||
Total gross amount of recognized assets | 14,234 | 37,731 |
Total gross amount offset in the statement of financial position | 0 | 0 |
Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed | 14,234 | 37,731 |
Total gross amount not offset financial instruments | 33 | 551 |
Total gross amount not offset securities collateral received | 0 | 23,637 |
Total gross amounts not offset cash collateral received | 0 | 0 |
Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Amount Offset Against Collateral | $ 14,201 | $ 13,543 |
Note Offsetting of financial140
Note Offsetting of financial assets and liabilities (Offsetting of financial liabilities) (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Derivative Liability Fair Value Net | ||
Derivatives gross amount of recognized liabilities | $ 12,841 | $ 12,842 |
Derivatives gross amounts asset offset in the statement of financial position | 0 | 0 |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 12,841 | 12,842 |
Derivatives gross amount not offset financial instruments | 33 | 551 |
Derivatives gross amounts not offset securities collateral received | 16 | 747 |
Derivatives gross amount not offset cash collateral pledged | 0 | 0 |
Derivative Liability, Fair Value, Amount Offset Against Collateral, Total | 12,792 | 11,544 |
Securities Borrowed Amount Offset Against Collateral | ||
Repurchase agreements gross amount of recognized liabilities | 374,405 | 479,425 |
Repurchase agreements gross amount asset offset in the statement of financial position | 0 | 0 |
Securities Sold Under Agreements To Repurchase Offsetting | 374,405 | 479,425 |
Repurchase agreements gross amount not offset financial instruments | 0 | 0 |
Repurchase agreeements gross amount not offset securities collateral pledged | 374,405 | 479,425 |
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 | 387,246 | 492,267 |
Total gross amounts of asset offset in the statement of financial position | 0 | 0 |
Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned | 387,246 | 492,267 |
Total gross amounts not offset financial instruments | 33 | 551 |
Total gross amounts not offset securities collateral pledged | 374,421 | 480,172 |
Total gross amounts not offset cash collateral pledged | 0 | 0 |
Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Amount Offset Against Collateral | $ 12,792 | $ 11,544 |
Note Offsetting of financial141
Note Offsetting of financial assets and liabilities (Offsetting of financial assets and liabilities - Additional Information) (Detail) | 9 Months Ended |
Sep. 30, 2017 | |
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, 2017 | Mar. 31, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Stockholders Equity Note [Line Items] | ||||||
Puerto Rico Laws Restrictions On Banks Net Income | a minimum of 10% of BPPR’s net income | |||||
Equity Restrictions | $ 513,000 | $ 513,000 | $ 513,000 | |||
Transfers To Statutory Reserve | $ 0 | $ 0 | 0 | $ 0 | ||
Dividends, Common Stock, Cash | $ 76,620 | $ 46,666 | ||||
Common Stock Dividends Per Share Declared | $ 0.25 | $ 0.15 | $ 0.75 | $ 0.45 | ||
Dividends Payable | $ 25,500 | $ 25,500 | ||||
Stock Repurchase Program Authorized Amount | $ 75,000 | |||||
Treasury Stock Value Acquired Cost Method | $ 77,418 | $ 1,563 | ||||
Total Common Shares Repurchased Accelerated Share Repurchase Agreements | 1,847,372 | |||||
Accelerate Share Repurchase Transaction | ||||||
Stockholders Equity Note [Line Items] | ||||||
Accelerated Share Repurchase Program Adjustment | $ 4,500 | |||||
Treasury Stock Value Acquired Cost Method | $ 79,500 |
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, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | ||
Foreign Currency Translation | ||||||
Beginning Balance | [1] | $ (41,405) | $ (38,070) | $ (39,956) | $ (35,930) | |
Other comprehensive loss before reclassifications | [1] | (390) | (325) | (1,839) | (2,465) | |
Net change | [1] | (390) | (325) | (1,839) | (2,465) | |
Ending Balance | [1] | (41,795) | (38,395) | (41,795) | (38,395) | |
Adjustment of pension and postretirement benefit plans | ||||||
Beginning Balance | [1] | (205,928) | (205,743) | (211,610) | (211,276) | |
Amounts reclassified from accumulated other comprehensive income (loss) for amortization of net losses | [1] | 3,421 | 3,348 | 10,263 | 10,041 | |
Amounts reclassified from accumulated other comprehensive income (loss) for amortization of prior service credit | [1] | (580) | (580) | (1,740) | (1,740) | |
Net change | [1] | 2,841 | 2,768 | 8,523 | 8,301 | |
Ending Balance | [1] | (203,087) | (202,975) | (203,087) | (202,975) | |
Unrealized net holding (losses) gain on investments | ||||||
Beginning Balance | [1] | (55,742) | 98,761 | (68,318) | (9,560) | |
Other comprehensive (loss) income before reclassification | [1] | 9,350 | (14,131) | 15,331 | 94,023 | |
Other-than-temporary impairment amounts reclassified from accumulated other comprehensive (loss) income | [1] | 0 | 0 | 6,740 | 167 | |
Amounts reclassified from accumulated other comprehensive (loss) income | [1] | (82) | (316) | (227) | (316) | |
Net change | [1] | 9,268 | (14,447) | 21,844 | 93,874 | |
Ending Balance | [1] | (46,474) | 84,314 | (46,474) | 84,314 | |
Unrealized net (losses) gain on cash flow hedges | ||||||
Beginning Balance | [1] | 132 | (560) | (402) | (120) | |
Other comprehensive (loss) income before reclassifications | [1] | (250) | (685) | (869) | (2,843) | |
Amounts reclassified from other accumulated other comprehensive (loss) income | [1] | 142 | 1,006 | 1,295 | 2,724 | |
Net change | [1] | (108) | 321 | 426 | (119) | |
Ending Balance | [1] | 24 | (239) | 24 | (239) | |
Accumulated other comprehensive (loss) income | [1] | $ (291,332) | $ (157,295) | $ (291,332) | $ (157,295) | $ (320,286) |
[1] | All amounts presented are net of tax. |
Note Other comprehensive inc144
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, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Personnel costs | $ (119,636) | $ (121,224) | $ (364,058) | $ (365,023) |
Net (loss) gain and valuation adjustments on investment securities | 103 | 349 | 284 | 1,932 |
Other-than-temporary impairment losses on available-for-sale debt securities | 0 | 0 | (8,299) | (209) |
Mortgage banking activities | 5,239 | 15,272 | 27,349 | 42,050 |
Income tax (benefit) expense | 19,966 | (15,839) | (48,772) | (80,550) |
Net Income | 20,664 | 46,810 | 209,835 | 220,796 |
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 | (8,299) | (209) |
Net Income | (2,901) | (3,458) | (16,331) | (10,876) |
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 | (4,656) | (4,538) | (13,969) | (13,611) |
Income tax (benefit) expense | 1,815 | 1,770 | 5,446 | 5,310 |
Net Income | (2,841) | (2,768) | (8,523) | (8,301) |
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 | (5,606) | (5,488) | (16,819) | (16,461) |
Reclassification out of accumulated other comprehensive income | Adjustment of pension and postretirement benefit plan | Amortization of prior service credit | ||||
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] | ||||
Net (loss) gain and valuation adjustments on investment securities | 103 | 349 | 284 | 349 |
Total before tax | 103 | 349 | (8,015) | 140 |
Income tax (benefit) expense | (21) | (33) | 1,502 | 9 |
Net Income | 82 | 316 | (6,513) | 149 |
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] | ||||
Mortgage banking activities | (232) | (1,650) | (2,122) | (4,466) |
Total before tax | (232) | (1,650) | (2,122) | (4,466) |
Income tax (benefit) expense | 90 | 644 | 827 | 1,742 |
Net Income | $ (142) | $ (1,006) | $ (1,295) | $ (2,724) |
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, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Guarantor Obligations [Line Items] | ||||
Balance as of beginning of period | $ 49,395 | $ 56,931 | $ 54,489 | $ 58,663 |
Provision | 6,375 | 4,086 | 11,104 | 11,613 |
Net charge-offs | (3,718) | (4,737) | (13,541) | (13,996) |
Balance as of end of period | $ 52,052 | $ 56,280 | $ 52,052 | $ 56,280 |
Note Guarantees (Changes in 146
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, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Guarantor Obligations [Line Items] | ||||
Balance as of beginning of period | $ 10,545 | $ 10,702 | $ 10,936 | $ 8,087 |
Provision (reversal) for representations and warranties | (140) | (34) | (521) | 2,767 |
Net charge-offs | 0 | (27) | (10) | (213) |
Balance as of end of period | $ 10,405 | $ 10,641 | $ 10,405 | $ 10,641 |
Note Guarantees (Credit recours
Note Guarantees (Credit recourse) - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | |
Guarantee on loans sold or serviced with credit recourse | ||||||||
Guarantor Obligations [Line Items] | ||||||||
Valuation Allowances And Reserves Balance | $ 52,052 | $ 56,280 | $ 52,052 | $ 56,280 | $ 49,395 | $ 54,489 | $ 56,931 | $ 58,663 |
Serviced Mortgage Loans | ||||||||
Guarantor Obligations [Line Items] | ||||||||
Loans serviced | 17,100,000 | 17,100,000 | 18,000,000 | |||||
Loans with Recourse | ||||||||
Guarantor Obligations [Line Items] | ||||||||
Loans serviced | 1,500,000 | 1,500,000 | $ 1,700,000 | |||||
Loans with Recourse | Serviced Mortgage Loans | ||||||||
Guarantor Obligations [Line Items] | ||||||||
Repurchased Loans | $ 7,000 | $ 11,000 | $ 22,000 | $ 34,000 |
Note Guarantees (Indemnificatio
Note Guarantees (Indemnification, Representations and Warranties related to loans sold) - Additional Information (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Securitization | Guarantee on loans sold or serviced with representation and warranties | ||
Guarantor Obligations [Line Items] | ||
Repurchased Loans | $ 0 | $ 0 |
Note Guarantees (Other Guarante
Note Guarantees (Other Guarantees) - Additional Information (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Guarantor Obligations [Line Items] | ||
Funds Advanced To Investors Under Servicing Agreements | $ 71,167 | $ 69,711 |
Popular, Inc. Holding Co. | Debt Securities Payable | ||
Guarantor Obligations [Line Items] | ||
Guarantees, unamortized balance of the obligations | 149,000 | 149,000 |
Financial Standby Letter Of Credit | ||
Guarantor Obligations [Line Items] | ||
Guarantees, unamortized balance of the obligations | 300 | 300 |
Guarantee Type, Other | Popular, Inc. Holding Co. | Capital securities (trust preferred securities) | ||
Guarantor Obligations [Line Items] | ||
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, 2017 | Dec. 31, 2016 |
Commitments To Extend Credit | Credit card | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Unused Commitments To Extend Credit | $ 4,311,987 | $ 4,562,981 |
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 | 2,723,002 | 2,966,656 |
Commitments To Extend Credit | Other consumer unused credit commitments | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Unused Commitments To Extend Credit | 250,565 | 261,856 |
Commercial Letters of Credit | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Unused Commitments To Extend Credit | 2,288 | 1,490 |
Standby Letters of Credit | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Unused Commitments To Extend Credit | 31,287 | 34,644 |
Commitments to originate or fund mortgage loans | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Unused Commitments To Extend Credit | $ 9,706 | $ 25,622 |
Note Commitments and Conting151
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, 2017 | Dec. 31, 2016 | |
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | $ 483,592 | $ 584,491 |
From PR Central Government | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 47 | |
From Government Development Bank | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 3 | |
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 | 483,538 | |
Outstanding Balance | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 481,750 | 529,339 |
Outstanding Balance | From PR Central Government | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 47 | |
Outstanding Balance | From Government Development Bank | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 3 | |
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 | 481,696 | 511,894 |
Loans Member | Outstanding Balance | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 432,651 | 458,794 |
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 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 | 432,651 | |
Securities Investment Member | Outstanding Balance | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 49,099 | $ 70,545 |
Securities Investment Member | Outstanding Balance | From PR Central Government | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 47 | |
Securities Investment Member | Outstanding Balance | From Government Development Bank | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 3 | |
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 | 49,045 | |
Within 1 year | From Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 16,478 | |
Within 1 year | Outstanding Balance | From Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 14,636 | |
Within 1 year | Loans Member | Outstanding Balance | From Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 11,341 | |
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 | 3,295 | |
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 | 5 | |
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 | 3 | |
After 1 and within 5 years | From Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 208,389 | |
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 | 5 | |
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 | 3 | |
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 | 208,389 | |
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 | 192,904 | |
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 | 5 | |
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 | 3 | |
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 | 15,485 | |
After 5 to 10 years | From PR Central Government | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 12 | |
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 | 135,608 | |
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 | 12 | |
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 | 135,608 | |
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 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 | 106,368 | |
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 | 12 | |
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 | 29,240 | |
After 10 years | From PR Central Government | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 30 | |
After 10 years | From Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Total concentration of risk | 123,063 | |
After 10 years | Outstanding Balance | From PR Central Government | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 30 | |
After 10 years | Outstanding Balance | From Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 123,063 | |
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 Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 122,038 | |
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 | 30 | |
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 | $ 1,025 |
Note Commitments and conting152
Note Commitments and contingencies (Commitments) - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Line Items] | |||||
Other-than-temporary impairment on investment securities | $ 0 | $ 0 | $ 8,299 | $ 209 | |
Net (loss) gain and valuation adjustments on investment securities | 103 | $ 349 | 284 | $ 1,932 | |
COFINA | AFS Securities Sold [Member] | |||||
Commitments and Contingencies Disclosure [Line Items] | |||||
Net (loss) gain and valuation adjustments on investment securities | 100 | ||||
PR Government Direct Exposure | |||||
Commitments and Contingencies Disclosure [Line Items] | |||||
Concentration Risk Credit Risk Financial Instrument Maximum Exposure | 483,592 | $ 584,491 | |||
PR Government Direct Exposure | From Municipalities | |||||
Commitments and Contingencies Disclosure [Line Items] | |||||
Concentration Risk Credit Risk Financial Instrument Maximum Exposure | 483,538 | ||||
PR Government Indirect Exposure | |||||
Commitments and Contingencies Disclosure [Line Items] | |||||
Concentration Of Risk Credit Facilities | 391,000 | 391,000 | 406,000 | ||
PR Government Indirect Exposure | PR Housing Bonds backed by second mortgage loans | |||||
Commitments and Contingencies Disclosure [Line Items] | |||||
Concentration Of Risk Credit Facilities | 43,000 | 43,000 | 43,000 | ||
PR Government Indirect Exposure | Commercial real estate | |||||
Commitments and Contingencies Disclosure [Line Items] | |||||
Concentration Of Risk Credit Facilities | 29,000 | 29,000 | 31,000 | ||
PR Government Indirect Exposure | Pass Through securities that have been economically defeased and refunded | |||||
Commitments and Contingencies Disclosure [Line Items] | |||||
Concentration Of Risk Credit Facilities | 6,000 | 6,000 | 6,000 | ||
USVI Government Direct Exposure | From USVI Government And Public Corporations | |||||
Commitments and Contingencies Disclosure [Line Items] | |||||
Concentration Risk Credit Risk Financial Instrument Maximum Exposure | 82,000 | ||||
Outstanding Balance | PR Government Direct Exposure | |||||
Commitments and Contingencies Disclosure [Line Items] | |||||
Concentration Of Risk Credit Facilities | 481,750 | 481,750 | 529,339 | ||
Outstanding Balance | PR Government Direct Exposure | From Municipalities | |||||
Commitments and Contingencies Disclosure [Line Items] | |||||
Concentration Of Risk Credit Facilities | 481,696 | 481,696 | 511,894 | ||
Outstanding Balance | PR Government Indirect Exposure | |||||
Commitments and Contingencies Disclosure [Line Items] | |||||
Loans and Leases Receivable, Consumer, Mortgage with PRHA | 313,000 | 313,000 | 326,000 | ||
Commitments To Extend Credit | |||||
Commitments and Contingencies Disclosure [Line Items] | |||||
Reserve of potential losses associated with unfunded loan commitments | 9,000 | 9,000 | 9,000 | ||
Loans | Outstanding Balance | PR Government Direct Exposure | |||||
Commitments and Contingencies Disclosure [Line Items] | |||||
Concentration Of Risk Credit Facilities | 432,651 | 432,651 | 458,794 | ||
Loans | Outstanding Balance | PR Government Direct Exposure | From Municipalities | |||||
Commitments and Contingencies Disclosure [Line Items] | |||||
Concentration Of Risk Credit Facilities | 432,651 | 432,651 | |||
Securities Investment | Outstanding Balance | PR Government Direct Exposure | |||||
Commitments and Contingencies Disclosure [Line Items] | |||||
Concentration Of Risk Credit Facilities | 49,099 | 49,099 | $ 70,545 | ||
Securities Investment | Outstanding Balance | PR Government Direct Exposure | From Municipalities | |||||
Commitments and Contingencies Disclosure [Line Items] | |||||
Concentration Of Risk Credit Facilities | $ 49,045 | $ 49,045 |
Note Commitments and conting153
Note Commitments and contingencies (Legal Proceedings) - Additional Information (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2017USD ($)claims | Sep. 30, 2017USD ($)claimsunits | |
Banco Popular de Puerto Rico | ||
Legal Matters And Contingencies [Line Items] | ||
Mortgage Related Investigation | Based on currently available information, we believe that although the mailing error extended to approximately 20,000 residential mortgage loans (approximately 50% of which are serviced by the Corporation for third parties), the number of borrowers actually affected by the mailing error was substantially lower due to, among other things, the fact that more than half of all borrowers potentially subject to such error closed on a permanent loss mitigation alternative and the fact that the Corporation regularly uses means other than the mail to communicate with borrowers, including hand delivery of written notices at our mortgage servicing centers or bank branches. | |
Banco Popular de Puerto Rico | Hazard Insurance Commision Related Litigation | ||
Legal Matters And Contingencies [Line Items] | ||
Loss Contingency Aggregate Claims Damages Sought | $ 400,000 | |
Banco Popular de Puerto Rico | Lilliam Gonzalez Camacho v BPPR | ||
Legal Matters And Contingencies [Line Items] | ||
Loss Contingency Aggregate Claims Damages Sought | $ 400,000 | |
Loss Contingency Number Of Defendants | units | 20 | |
Banco Popular de Puerto Rico | Costa Dorada Apartament Corp v BPPR | ||
Legal Matters And Contingencies [Line Items] | ||
Loss Contingency Damages Sought Value | $ 1,000,000 | |
Banco Popular de Puerto Rico | Betteroads Asphalt and Betterecycling Corporation | ||
Legal Matters And Contingencies [Line Items] | ||
Loss Contingency Aggregate Claims Damages Sought | 900,000 | |
Banco Popular de Puerto Rico | Hector Robles Rodriguez v Municipio de Ceiba | ||
Legal Matters And Contingencies [Line Items] | ||
Loss Contingency Aggregate Claims Damages Sought | 30,000 | |
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 | 168,000 | |
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 | 86 | 86 |
One arbitration with Claimed damages | Popular Securities | ||
Legal Matters And Contingencies [Line Items] | ||
Loss Contingency Pending Claims Number | claims | 1 | 1 |
Two Separate putative class action | Banco Popular de Puerto Rico | Costa Dorada Apartament Corp v BPPR | ||
Legal Matters And Contingencies [Line Items] | ||
Loss Contingency Pending Claims Number | claims | 2 | 2 |
Minimum | ||
Legal Matters And Contingencies [Line Items] | ||
Loss Contingency Range Of Possible Loss Portion Not Accrued | $ 0 | $ 0 |
Maximum | ||
Legal Matters And Contingencies [Line Items] | ||
Loss Contingency Range Of Possible Loss Portion Not Accrued | $ 27,800 | $ 27,800 |
Note Commitments and conting154
Note Commitments and contingencies (FDIC dealings section) - Additional Information (Detail) $ in Thousands | Sep. 30, 2017USD ($)D | Dec. 31, 2016USD ($) |
FDIC Dealings [Line Items] | ||
True Up Payment Term | D | 45 | |
FDIC | ||
FDIC Dealings [Line Items] | ||
Business Combination Contingent Consideration Liability | $ | $ 166,876 | $ 153,158 |
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, 2017 | Dec. 31, 2016 |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | $ 175,027 | $ 179,349 |
Maximum exposure to loss | 175,027 | 179,349 |
Servicing assets | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 152,072 | 158,562 |
Mortgage servicing rights | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 152,072 | 158,562 |
Other assets | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 22,955 | 20,787 |
Servicing advances | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | $ 22,955 | $ 20,787 |
Note Non-consolidated VIEs (156
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 PRLP 2011 Holdings, LLC and max exposure to loss) (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
PR Asset Portfolio 2013-1 International, LLC | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | $ 14,167 | $ 26,263 |
Liabilities | (16,900) | (9,692) |
Net assets | (2,733) | 16,571 |
Maximum exposure to loss | 0 | 16,571 |
PRLP 2011 Holding, LLC | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 7,362 | 9,167 |
Liabilities | (480) | (1,127) |
Net assets | 6,882 | 8,040 |
Maximum exposure to loss | 6,882 | 8,040 |
Loan | PR Asset Portfolio 2013-1 International, LLC | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 0 | 3,866 |
Loan | PRLP 2011 Holding, LLC | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 0 | 0 |
Advances Working Capital Line | PR Asset Portfolio 2013-1 International, LLC | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 0 | 1,391 |
Advances Working Capital Line | PRLP 2011 Holding, LLC | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 0 | 0 |
Advances Advance Facility | PR Asset Portfolio 2013-1 International, LLC | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 0 | 2,475 |
Advances Advance Facility | PRLP 2011 Holding, LLC | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 0 | 0 |
Accrued Income Receivable | PR Asset Portfolio 2013-1 International, LLC | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 0 | 19 |
Accrued Income Receivable | PRLP 2011 Holding, LLC | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 0 | 0 |
Equity Method Investments | PR Asset Portfolio 2013-1 International, LLC | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 14,167 | 22,378 |
Equity Method Investments | PRLP 2011 Holding, LLC | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Assets | 7,362 | 9,167 |
Deposits | PR Asset Portfolio 2013-1 International, LLC | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Liabilities | (16,900) | (9,692) |
Deposits | PRLP 2011 Holding, LLC | ||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | ||
Liabilities | $ (480) | $ (1,127) |
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, 2017 | Dec. 31, 2016 | |
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 | $ 11,900 | $ 12,300 |
Note Related party transactions
Note Related party transactions (Corporation's equity in Evertec) (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Related Party Transaction [Line Items] | ||
Investment in equity investees | $ 210,067 | $ 218,062 |
EVERTEC Inc. | ||
Related Party Transaction [Line Items] | ||
Investment in equity investees | $ 45,810 | $ 38,904 |
Note Related party transacti159
Note Related party transactions (Financial Condition accounts outstanding with EVERTEC) (Detail) - EVERTEC Inc. - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Related Party Transaction [Line Items] | ||
Accounts receivables (Other assets) | $ 5,221 | $ 6,394 |
Deposits | (20,712) | (14,899) |
Accounts payable (Other liabilities) | (4,070) | (20,372) |
Total | $ (19,561) | $ (28,877) |
Note Related party transacti160
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, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Related Party Transaction [Line Items] | ||||
Income (Loss) from Equity Method Investments, Total | $ 27,350 | $ 23,812 | ||
EVERTEC Inc. | ||||
Related Party Transaction [Line Items] | ||||
Share of income (loss) from investment | $ 1,200 | $ 3,198 | 8,143 | 9,397 |
Share of other changes in stockholders equity | 366 | 426 | 2,034 | (899) |
Income (Loss) from Equity Method Investments, Total | $ 1,566 | $ 3,624 | $ 10,177 | $ 8,498 |
Note Related party transacti161
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, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Deposits | ||||
Related Party Transaction [Line Items] | ||||
Interest Expense Related Party | $ (12) | $ (15) | $ (33) | $ (51) |
Other Fee Revenue | ||||
Related Party Transaction [Line Items] | ||||
Related Party Transaction Revenues From Transactions With Related Party | 7,061 | 7,533 | 22,656 | 21,948 |
Rental Income | ||||
Related Party Transaction [Line Items] | ||||
Related Party Transaction Revenues From Transactions With Related Party | 1,737 | 1,760 | 5,119 | 5,232 |
Processing Fees | ||||
Related Party Transaction [Line Items] | ||||
Expenses from Transactions with related party | (43,855) | (44,923) | (132,289) | (131,701) |
Other Expense | ||||
Related Party Transaction [Line Items] | ||||
Related Party Transaction Revenues From Transactions With Related Party | 291 | 269 | 900 | 783 |
Total | ||||
Related Party Transaction [Line Items] | ||||
Related Party Transaction, Amounts of Transaction | $ (34,778) | $ (35,376) | $ (103,647) | $ (103,789) |
Note Related party transacti162
Note Related party transactions (Corporation's equity in PRLP 2011 Holdings, LLC) (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Related Party Transaction [Line Items] | ||
Equity Method Investments | $ 210,067 | $ 218,062 |
PRLP 2011 Holding, LLC | ||
Related Party Transaction [Line Items] | ||
Equity Method Investments | $ 7,362 | $ 9,167 |
Note Related party transacti163
Note Related party transactions (Financial Condition accounts outstanding with PRLP 2011 Holdings, LLC) (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
PRLP 2011 Holding, LLC | ||
Related Party Transaction [Line Items] | ||
Deposits | $ (480) | $ (1,127) |
Note Related party transacti164
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, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Related Party Transaction [Line Items] | ||||
Income Loss From Equity Method Investments | $ 27,350 | $ 23,812 | ||
PRLP 2011 Holding, LLC | ||||
Related Party Transaction [Line Items] | ||||
Income Loss From Equity Method Investments | $ 101 | $ 511 | $ (808) | $ (83) |
Note Related party transacti165
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, 2016 | |
Loans | PRLP 2011 Holding, LLC | ||
Related Party Transaction [Line Items] | ||
Interest Income Related Party | $ 0 | $ 11 |
Note Related party transacti166
Note Related party transactions (Corporation's equity in PR Asset Portfolio 2013-1 International, LLC) (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Related Party Transaction [Line Items] | ||
Investment in equity investees | $ 210,067 | $ 218,062 |
PR Asset Portfolio 2013-1 International, LLC | ||
Related Party Transaction [Line Items] | ||
Investment in equity investees | $ 14,167 | $ 22,378 |
Note Related party transacti167
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, 2017 | Dec. 31, 2016 |
Related Party Transaction [Line Items] | ||
Loans | $ 0 | $ 3,866 |
Accounts receivables (Other assets) | 0 | 19 |
Deposits | (16,900) | (9,692) |
Total | $ (16,900) | $ (5,807) |
Note Related party transacti168
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, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Related Party Transaction [Line Items] | ||||
Income Loss From Equity Method Investments | $ 27,350 | $ 23,812 | ||
PR Asset Portfolio 2013-1 International, LLC | ||||
Related Party Transaction [Line Items] | ||||
Income Loss From Equity Method Investments | $ (1,299) | $ (587) | $ (1,150) | $ (910) |
Note Related party transacti169
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, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Related Party Transaction [Line Items] | ||||
Related Party Transaction Revenues From Transactions With Related Party | $ (8) | $ 188 | $ (14) | $ 920 |
Loans | ||||
Related Party Transaction [Line Items] | ||||
Interest Income Related Party | 0 | 189 | 9 | 923 |
Deposits | ||||
Related Party Transaction [Line Items] | ||||
Interest Expense Related Party | $ (8) | $ (1) | $ (23) | $ (3) |
Note Related party transacti170
Note Related party transactions (Related party transactions with affiliated company - Additional Information) (Detail) - USD ($) $ in Millions | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | May 01, 2017 | Apr. 01, 2010 | |
Related Party With Investment Companies [Member] | ||||
Related Party Transaction [Line Items] | ||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 357 | $ 357 | ||
Administrative Fees | 5.8 | 6 | ||
Waived Fees | 1.7 | 2.1 | ||
Net Fees | $ 4.1 | $ 3.9 | ||
Credit Facilities Terms | $200 million or 10% of BPPR’s capital | |||
Loan | Unpaid Principal Balance | Related Party Transaction loan sold between BPPR and Popular Inc. [Member] | ||||
Related Party Transaction [Line Items] | ||||
Loan Sold To Popular Inc. | $ 37.7 | $ 37.9 | ||
Loan | Chief Executive Officer | Unpaid Principal Balance | Related Party Transaction loan sold between BPPR and Popular Inc. [Member] | ||||
Related Party Transaction [Line Items] | ||||
Loans Receivable Related Parties | $ 40.2 | |||
Popular Inc. | Chief Executive Officer | Related Party Transaction loan sold between BPPR and Popular Inc. [Member] | ||||
Related Party Transaction [Line Items] | ||||
Other Additional Capital | $ 6 |
Note Related party transacti171
Note Related party transactions (Related party transactions with affiliated company - Equity Method - Additional Information) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | Jun. 30, 2017 | Mar. 31, 2013 | Sep. 30, 2011 | |
Related Party Transaction [Line Items] | ||||||||
Investment in equity investees | $ 210,067 | $ 210,067 | $ 218,062 | |||||
Earnings from investments under the equity method | $ 27,350 | $ 23,812 | ||||||
PRLP 2011 Holding, LLC | ||||||||
Related Party Transaction [Line Items] | ||||||||
Equity Method Investment Ownership Percentage | 24.90% | 24.90% | 24.90% | |||||
Proceeds from Equity Method Investment, Dividends or Distributions | $ 1,000 | 3,400 | ||||||
PR Asset Portfolio 2013-1 International, LLC | ||||||||
Related Party Transaction [Line Items] | ||||||||
Equity Method Investment Ownership Percentage | 24.90% | 24.90% | 24.90% | |||||
Proceeds from Equity Method Investment, Dividends or Distributions | $ 7,100 | |||||||
EVERTEC Inc. | ||||||||
Related Party Transaction [Line Items] | ||||||||
Equity Method Investment Ownership Percentage | 16.10% | 16.10% | ||||||
Proceeds from Equity Method Investment, Dividends or Distributions | $ 3,500 | 3,500 | ||||||
Investment in equity investees | $ 45,810 | 45,810 | 38,904 | |||||
Earnings from investments under the equity method | $ 1,566 | $ 3,624 | $ 10,177 | 8,498 | ||||
BHD LEON | ||||||||
Related Party Transaction [Line Items] | ||||||||
Equity Method Investment Ownership Percentage | 15.84% | 15.84% | ||||||
Proceeds from Equity Method Investment, Dividends or Distributions | $ 11,800 | $ 12,100 | ||||||
Investment in equity investees | $ 129,100 | 129,100 | 125,500 | |||||
Earnings from investments under the equity method | 17,300 | 18,500 | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | 0 | |||||||
Line Of Credit | $ 0 | $ 0 | $ 25,000 | |||||
Grupo Financiero Leon SA Panama shareholder of BHD Leon | Corporate Joint Venture [Member] | ||||||||
Related Party Transaction [Line Items] | ||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 8,000 | |||||||
Credit facility extended to GFL by BHD International Panama affiliate of BHD leon | Corporate Joint Venture [Member] | ||||||||
Related Party Transaction [Line Items] | ||||||||
Line Of Credit | $ 8,000 |
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, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Dec. 31, 2015 | |||
Assets | |||||||
Available For Sale Securities | $ 9,061,001 | [1] | $ 8,209,806 | [2] | |||
Trading Securities | 45,951 | 59,805 | |||||
Mortgage servicing rights | 180,157 | 196,889 | $ 200,354 | $ 211,405 | |||
Derivatives | 14,234 | 14,094 | |||||
US Treasury Securities | |||||||
Assets | |||||||
Available For Sale Securities | 2,764,863 | 2,136,620 | |||||
Obligations of U.S. Government sponsored entities | |||||||
Assets | |||||||
Available For Sale Securities | 611,646 | 711,850 | |||||
Obligations of Puerto Rico, States and political subdivisions | |||||||
Assets | |||||||
Available For Sale Securities | 6,615 | 22,771 | |||||
Collateralized Mortgage Obligations - Federal agencies | |||||||
Assets | |||||||
Available For Sale Securities | 1,015,597 | 1,221,526 | |||||
Mortgage Backed Securities | |||||||
Assets | |||||||
Available For Sale Securities | 4,659,526 | 4,105,332 | |||||
Equity securities | |||||||
Assets | |||||||
Available For Sale Securities | 1,885 | 2,122 | |||||
Other | |||||||
Assets | |||||||
Available For Sale Securities | 869 | 9,585 | |||||
Level 1 | |||||||
Assets | |||||||
Available For Sale Securities | [3] | 0 | 0 | ||||
Trading Securities | [3] | 0 | 0 | ||||
Mortgage servicing rights | 0 | 0 | |||||
Derivatives | 0 | 0 | |||||
Liabilities | |||||||
Derivatives | 0 | 0 | |||||
Contingent consideration | 0 | 0 | |||||
Level 2 | |||||||
Assets | |||||||
Available For Sale Securities | [3] | 9,059,713 | 8,208,414 | ||||
Trading Securities | [3] | 44,787 | 53,118 | ||||
Mortgage servicing rights | 0 | 0 | |||||
Derivatives | 14,234 | 14,094 | |||||
Liabilities | |||||||
Derivatives | (12,841) | (12,842) | |||||
Contingent consideration | 0 | 0 | |||||
Level 3 | |||||||
Assets | |||||||
Available For Sale Securities | [3] | 1,288 | 1,392 | ||||
Trading Securities | [3] | 1,164 | 6,678 | ||||
Mortgage servicing rights | 180,157 | 196,889 | |||||
Derivatives | 0 | 0 | |||||
Liabilities | |||||||
Derivatives | 0 | 0 | |||||
Contingent consideration | (166,876) | (153,158) | |||||
Fair Value, Measurements, Recurring | |||||||
Assets | |||||||
Available For Sale Securities | 9,061,001 | 8,209,806 | |||||
Trading Securities | 45,951 | 59,796 | |||||
Mortgage servicing rights | 180,157 | 196,889 | |||||
Derivatives | 14,234 | 14,094 | |||||
Total | 9,301,343 | 8,480,585 | |||||
Liabilities | |||||||
Derivatives | (12,841) | (12,842) | |||||
Contingent consideration | (166,876) | (153,158) | |||||
Total | (179,717) | (166,000) | |||||
Fair Value, Measurements, Recurring | US Treasury Securities | |||||||
Assets | |||||||
Available For Sale Securities | 2,764,863 | 2,136,620 | |||||
Fair Value, Measurements, Recurring | Obligations of U.S. Government sponsored entities | |||||||
Assets | |||||||
Available For Sale Securities | 611,646 | 711,850 | |||||
Fair Value, Measurements, Recurring | Obligations of Puerto Rico, States and political subdivisions | |||||||
Assets | |||||||
Available For Sale Securities | 6,615 | 22,771 | |||||
Trading Securities | 172 | 1,164 | |||||
Fair Value, Measurements, Recurring | Collateralized Mortgage Obligations - Federal agencies | |||||||
Assets | |||||||
Available For Sale Securities | 1,015,597 | 1,221,526 | |||||
Fair Value, Measurements, Recurring | Mortgage Backed Securities | |||||||
Assets | |||||||
Available For Sale Securities | 4,659,526 | 4,105,332 | |||||
Trading Securities | 32,752 | 42,746 | |||||
Fair Value, Measurements, Recurring | Equity securities | |||||||
Assets | |||||||
Available For Sale Securities | 1,885 | 2,122 | |||||
Fair Value, Measurements, Recurring | Other | |||||||
Assets | |||||||
Available For Sale Securities | 869 | 9,585 | |||||
Trading Securities | 12,179 | 14,565 | |||||
Fair Value, Measurements, Recurring | Collateralized Mortgage Obligations | |||||||
Assets | |||||||
Trading Securities | 848 | 1,321 | |||||
Fair Value, Measurements, Recurring | Level 1 | |||||||
Assets | |||||||
Available For Sale Securities | 0 | 0 | |||||
Trading Securities | 0 | 0 | |||||
Mortgage servicing rights | 0 | 0 | |||||
Derivatives | 0 | 0 | |||||
Total | 0 | 0 | |||||
Liabilities | |||||||
Derivatives | 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 | 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 | 0 | |||||
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 | 9,059,713 | 8,208,414 | |||||
Trading Securities | 44,787 | 53,118 | |||||
Mortgage servicing rights | 0 | 0 | |||||
Derivatives | 14,234 | 14,094 | |||||
Total | 9,118,734 | 8,275,626 | |||||
Liabilities | |||||||
Derivatives | (12,841) | (12,842) | |||||
Contingent consideration | 0 | 0 | |||||
Total | (12,841) | (12,842) | |||||
Fair Value, Measurements, Recurring | Level 2 | US Treasury Securities | |||||||
Assets | |||||||
Available For Sale Securities | 2,764,863 | 2,136,620 | |||||
Fair Value, Measurements, Recurring | Level 2 | Obligations of U.S. Government sponsored entities | |||||||
Assets | |||||||
Available For Sale Securities | 611,646 | 711,850 | |||||
Fair Value, Measurements, Recurring | Level 2 | Obligations of Puerto Rico, States and political subdivisions | |||||||
Assets | |||||||
Available For Sale Securities | 6,615 | 22,771 | |||||
Trading Securities | 172 | 1,164 | |||||
Fair Value, Measurements, Recurring | Level 2 | Collateralized Mortgage Obligations - Federal agencies | |||||||
Assets | |||||||
Available For Sale Securities | 1,015,597 | 1,221,526 | |||||
Fair Value, Measurements, Recurring | Level 2 | Mortgage Backed Securities | |||||||
Assets | |||||||
Available For Sale Securities | 4,658,238 | 4,103,940 | |||||
Trading Securities | 32,709 | 37,991 | |||||
Fair Value, Measurements, Recurring | Level 2 | Equity securities | |||||||
Assets | |||||||
Available For Sale Securities | 1,885 | 2,122 | |||||
Fair Value, Measurements, Recurring | Level 2 | Other | |||||||
Assets | |||||||
Available For Sale Securities | 869 | 9,585 | |||||
Trading Securities | 11,630 | 13,963 | |||||
Fair Value, Measurements, Recurring | Level 2 | Collateralized Mortgage Obligations | |||||||
Assets | |||||||
Trading Securities | 276 | 0 | |||||
Fair Value, Measurements, Recurring | Level 3 | |||||||
Assets | |||||||
Available For Sale Securities | 1,288 | 1,392 | |||||
Trading Securities | 1,164 | 6,678 | |||||
Mortgage servicing rights | 180,157 | 196,889 | |||||
Derivatives | 0 | 0 | |||||
Total | 182,609 | 204,959 | |||||
Liabilities | |||||||
Derivatives | 0 | 0 | |||||
Contingent consideration | (166,876) | (153,158) | |||||
Total | (166,876) | (153,158) | |||||
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 | Mortgage Backed Securities | |||||||
Assets | |||||||
Available For Sale Securities | 1,288 | 1,392 | |||||
Trading Securities | 43 | 4,755 | |||||
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 | 549 | 602 | |||||
Fair Value, Measurements, Recurring | Level 3 | Collateralized Mortgage Obligations | |||||||
Assets | |||||||
Trading Securities | $ 572 | $ 1,321 | |||||
[1] | Includes $6.7 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 $5.7 billion serve as collateral for public funds. | ||||||
[2] | Includes $4.1 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 $3.4 billion serve as collateral for public funds. | ||||||
[3] | Refer to Note 25 to the C onsolidated F inancial S tatements for the fair value by class of financial asset and its hierarchy level. |
Note Fair value measurement 173
Note Fair value measurement (Assets measured at fair value on nonrecurring basis) (Detail) - Fair Value, Measurements, Nonrecurring - USD ($) $ in Thousands | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | |||
Fair Value by Asset Class [Domain] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans | [1] | $ 66,221 | $ 61,309 | |
Other real estate owned | [2] | 89,825 | 39,996 | |
Other Foreclosed Assets | [2] | 2,223 | 46 | |
Total | 158,269 | 101,351 | ||
Write-down | (34,162) | (39,581) | ||
Loans | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Write-down | [1] | (16,282) | (31,097) | |
Other real estate owned | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Write-down | [2] | (17,405) | [3] | (8,482) |
Other foreclosed assets | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Write-down | [2] | (475) | (2) | |
Level 1 | Fair Value by Asset Class [Domain] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans | [1] | 0 | 0 | |
Other real estate owned | [2] | 0 | 0 | |
Other Foreclosed Assets | [2] | 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 | [1] | 0 | 0 | |
Other real estate owned | [2] | 0 | 0 | |
Other Foreclosed Assets | [2] | 0 | 0 | |
Total | 0 | 0 | ||
Level 3 | Fair Value by Asset Class [Domain] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans | [1] | 66,221 | 61,309 | |
Other real estate owned | [2] | 89,825 | 39,996 | |
Other Foreclosed Assets | [2] | 2,223 | 46 | |
Total | $ 158,269 | $ 101,351 | ||
[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] | Write-downs include $2.7 million related to estimated damages caused by Hurricanes Irma and Maria based on the sample of properties examined. |
Note Fair value measurement 174
Note Fair value measurement (Assets measured at fair value on nonrecurring basis) (Parenthetical) (Detail) $ in Millions | 9 Months Ended |
Sep. 30, 2017USD ($) | |
Hurricanes | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Write-down | $ 2.7 |
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, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Assets, Fair Value Disclosure [Abstract] | ||||
Beginning Balance | $ 195,766 | $ 212,378 | $ 204,959 | $ 221,811 |
Gains (Losses) included in earnings | (10,342) | (6,101) | (24,439) | (18,863) |
Gains (losses) included in OCI | (1) | (1) | 9 | 15 |
Additions | 1,722 | 2,987 | 7,901 | 9,133 |
Sales | 0 | (110) | (521) | (2,134) |
Settlements | (372) | (158) | (1,048) | (967) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | (4,164) | 0 | (4,252) | 0 |
Ending Balance | 182,609 | 208,995 | 182,609 | 208,995 |
Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss | (6,239) | (1,093) | (9,869) | (4,208) |
Liabilities, Fair Value Disclosure [Abstract] | ||||
Beginning Balance | (163,668) | (128,511) | (153,158) | (120,380) |
Gains (Losses) included in earnings | (3,208) | (6,611) | (13,718) | (14,742) |
Gains (losses) included in OCI | 0 | 0 | 0 | 0 |
Additions | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Transfer into Level 3 | 0 | 0 | 0 | 0 |
Transfer out of Level 3 | 0 | 0 | 0 | 0 |
Ending Balance | (166,876) | (135,122) | (166,876) | (135,122) |
Fair Value Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss | (3,208) | (6,611) | (13,718) | (14,742) |
Other liabilities | Contingent consideration | ||||
Liabilities, Fair Value Disclosure [Abstract] | ||||
Beginning Balance | (163,668) | (128,511) | (153,158) | (120,380) |
Gains (Losses) included in earnings | (3,208) | (6,611) | (13,718) | (14,742) |
Gains (losses) included in OCI | 0 | 0 | 0 | 0 |
Additions | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Transfer out of Level 3 | 0 | 0 | ||
Ending Balance | (166,876) | (135,122) | (166,876) | (135,122) |
Fair Value Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss | (3,208) | (6,611) | (13,718) | (14,742) |
Available For Sale Securities | Mortgage Backed Securities | ||||
Assets, Fair Value Disclosure [Abstract] | ||||
Beginning Balance | 1,289 | 1,398 | 1,392 | 1,434 |
Gains (Losses) included in earnings | 0 | 0 | 0 | (2) |
Gains (losses) included in OCI | (1) | (1) | 9 | 15 |
Additions | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | (25) | (50) |
Transfers out of Level 3 | 0 | (88) | ||
Ending Balance | 1,288 | 1,397 | 1,288 | 1,397 |
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 | 4,334 | 5,364 | 4,755 | 6,454 |
Gains (Losses) included in earnings | (77) | (32) | (124) | 85 |
Gains (losses) included in OCI | 0 | 0 | 0 | 0 |
Additions | 0 | 128 | 332 | 1,076 |
Sales | 0 | (110) | (156) | (1,826) |
Settlements | (326) | (100) | (876) | (539) |
Transfers out of Level 3 | (3,888) | (3,888) | ||
Ending Balance | 43 | 5,250 | 43 | 5,250 |
Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss | 0 | (29) | (23) | 74 |
Trading account securities | Collateralized Mortgage Obligations | ||||
Assets, Fair Value Disclosure [Abstract] | ||||
Beginning Balance | 858 | 1,399 | 1,321 | 1,831 |
Gains (Losses) included in earnings | 5 | 10 | 0 | (3) |
Gains (losses) included in OCI | 0 | 0 | 0 | 0 |
Additions | 31 | 5 | 39 | 214 |
Sales | 0 | 0 | (365) | (308) |
Settlements | (46) | (43) | (147) | (363) |
Transfers out of Level 3 | (276) | (276) | ||
Ending Balance | 572 | 1,371 | 572 | 1,371 |
Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss | 1 | 10 | (5) | 4 |
Trading account securities | Other | ||||
Assets, Fair Value Disclosure [Abstract] | ||||
Beginning Balance | 557 | 640 | 602 | 687 |
Gains (Losses) included in earnings | (8) | (17) | (53) | (64) |
Gains (losses) included in OCI | 0 | 0 | 0 | 0 |
Additions | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | ||
Ending Balance | 549 | 623 | 549 | 623 |
Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss | 1 | 8 | 22 | 29 |
Mortgage Servicing Rights | ||||
Assets, Fair Value Disclosure [Abstract] | ||||
Beginning Balance | 188,728 | 203,577 | 196,889 | 211,405 |
Gains (Losses) included in earnings | (10,262) | (6,062) | (24,262) | (18,879) |
Gains (losses) included in OCI | 0 | 0 | 0 | 0 |
Additions | 1,691 | 2,854 | 7,530 | 7,843 |
Sales | 0 | 0 | 0 | 0 |
Settlements | 0 | (15) | 0 | (15) |
Transfers out of Level 3 | 0 | 0 | ||
Ending Balance | 180,157 | 200,354 | 180,157 | 200,354 |
Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss | $ (6,241) | $ (1,082) | $ (9,863) | $ (4,315) |
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, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
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 | $ (10,342) | $ (6,101) | $ (24,439) | $ (18,863) |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings | (3,208) | (6,611) | (13,718) | (14,742) |
Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss | (6,239) | (1,093) | (9,869) | (4,208) |
Fair Value Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss | (3,208) | (6,611) | (13,718) | (14,742) |
Fair Value, Assets and Liabilities Measured on Recurring Basis, Gain (Loss) Included in Earnings | (13,550) | (12,712) | (38,157) | (33,605) |
Fair Value Assets And Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss Total | (9,447) | (7,704) | (23,587) | (18,950) |
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 | 0 | 0 | (2) |
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 | (10,262) | (6,062) | (24,262) | (18,879) |
Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss | (6,241) | (1,082) | (9,863) | (4,315) |
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 | (80) | (39) | (177) | 18 |
Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss | 2 | (11) | (6) | 107 |
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 | (3,208) | (6,611) | (13,718) | (14,742) |
Fair Value Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss | $ (3,208) | $ (6,611) | $ (13,718) | $ (14,742) |
Note Fair value measurement (Qu
Note Fair value measurement (Quantitative inputs level 3) (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Dec. 31, 2015 | ||
Assets, Fair Value Disclosure [Abstract] | |||||
Trading Securities | $ 45,951 | $ 59,805 | |||
Servicing Asset At Fair Value Amount | $ 180,157 | $ 196,889 | $ 200,354 | $ 211,405 | |
Fair Value Inputs Quantitative Information [Abstract] | |||||
Discount Rate | 4.72% | 5.97% | |||
Maximum | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Discount Rate | 14.49% | ||||
Minimum | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Discount Rate | 11.58% | ||||
Fair Value, Measurements, Recurring | |||||
Assets, Fair Value Disclosure [Abstract] | |||||
Trading Securities | $ 45,951 | $ 59,796 | |||
Servicing Asset At Fair Value Amount | 180,157 | 196,889 | |||
Liabilities, Fair Value Disclosure [Abstract] | |||||
Contingent consideration | (166,876) | (153,158) | |||
Fair Value, Measurements, Nonrecurring | |||||
Assets, Fair Value Disclosure [Abstract] | |||||
Loans Receivable, Fair Value Disclosure | [1] | 66,221 | 61,309 | ||
Real Estate Acquired Through Foreclosure | [2] | 89,825 | $ 39,996 | ||
Contingent consideration | Fair Value, Measurements, Recurring | Fair Value Inputs Level 3 Internal Valuation Technique | |||||
Liabilities, Fair Value Disclosure [Abstract] | |||||
Contingent consideration | $ (166,876) | ||||
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, Measurements, Recurring | Maximum | Fair Value Inputs Level 3 Internal Valuation Technique | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Credit Loss Rate | 100.00% | ||||
Contingent consideration | Fair Value, Measurements, Recurring | Minimum | Fair Value Inputs Level 3 Internal Valuation Technique | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Credit Loss Rate | 0.00% | ||||
Contingent consideration | Fair Value, Measurements, Recurring | Weighted Average | Fair Value Inputs Level 3 Internal Valuation Technique | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Credit Loss Rate | 3.90% | ||||
Contingent consideration | Fair Value, Measurements, Recurring | Risk Premium | Weighted Average | Fair Value Inputs Level 3 Internal Valuation Technique | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Discount Rate | 2.90% | ||||
Mortgage Servicing Rights | Fair Value, Measurements, Recurring | Fair Value Inputs Level 3 Internal Valuation Technique | |||||
Assets, Fair Value Disclosure [Abstract] | |||||
Servicing Asset At Fair Value Amount | $ 180,157 | ||||
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, Measurements, Recurring | Maximum | Fair Value Inputs Level 3 Internal Valuation Technique | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Prepayment speed | 18.00% | ||||
Weighted average life (in years) | 15 years 6 months | ||||
Discount Rate | 15.00% | ||||
Mortgage Servicing Rights | Fair Value, Measurements, Recurring | Minimum | Fair Value Inputs Level 3 Internal Valuation Technique | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Prepayment speed | 0.30% | ||||
Weighted average life (in years) | 1 month | ||||
Discount Rate | 9.50% | ||||
Mortgage Servicing Rights | Fair Value, Measurements, Recurring | Weighted Average | Fair Value Inputs Level 3 Internal Valuation Technique | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Prepayment speed | 5.80% | ||||
Weighted average life (in years) | 6 years 7 months | ||||
Discount Rate | 11.20% | ||||
Loan | Fair Value, Measurements, Nonrecurring | Fair Value Inputs Level 3 Internal Valuation Technique | |||||
Assets, Fair Value Disclosure [Abstract] | |||||
Loans Receivable, Fair Value Disclosure | $ 66,221 | ||||
Fair Value Inputs [Abstract] | |||||
Fair Value Measurements, Valuation Techniques | External appraisal | ||||
Unobservable Inputs | Haircut applied on external appraisals | ||||
Loan | Fair Value, Measurements, Nonrecurring | Maximum | Fair Value Inputs Level 3 Internal Valuation Technique | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Haircut Applied On External Appraisal | 54.10% | ||||
Loan | Fair Value, Measurements, Nonrecurring | Minimum | Fair Value Inputs Level 3 Internal Valuation Technique | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Haircut Applied On External Appraisal | 11.60% | ||||
Loan | Fair Value, Measurements, Nonrecurring | Weighted Average | Fair Value Inputs Level 3 Internal Valuation Technique | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Haircut Applied On External Appraisal | 25.00% | ||||
Other real estate owned | Fair Value, Measurements, Nonrecurring | Fair Value Inputs Level 3 Internal Valuation Technique | |||||
Assets, Fair Value Disclosure [Abstract] | |||||
Real Estate Acquired Through Foreclosure | $ 83,870 | ||||
Fair Value Inputs [Abstract] | |||||
Fair Value Measurements, Valuation Techniques | External appraisal | ||||
Unobservable Inputs | Haircut applied on external appraisals | ||||
Other real estate owned | Fair Value, Measurements, Nonrecurring | Maximum | Fair Value Inputs Level 3 Internal Valuation Technique | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Haircut Applied On External Appraisal | 30.00% | ||||
Other real estate owned | Fair Value, Measurements, Nonrecurring | Minimum | Fair Value Inputs Level 3 Internal Valuation Technique | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Haircut Applied On External Appraisal | 20.00% | ||||
Other real estate owned | Fair Value, Measurements, Nonrecurring | Weighted Average | Fair Value Inputs Level 3 Internal Valuation Technique | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Haircut Applied On External Appraisal | 21.30% | ||||
Collateralized Mortgage Obligations | Fair Value, Measurements, Recurring | |||||
Assets, Fair Value Disclosure [Abstract] | |||||
Trading Securities | $ 848 | 1,321 | |||
Collateralized Mortgage Obligations | Trading account securities | Fair Value, Measurements, Recurring | Fair Value Inputs Level 3 Internal Valuation Technique | |||||
Assets, Fair Value Disclosure [Abstract] | |||||
Trading Securities | $ 572 | ||||
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, Measurements, Recurring | Maximum | Fair Value Inputs Level 3 Internal Valuation Technique | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Weighted Average Life | 2 years 2 months | ||||
Yield | 4.20% | ||||
Constant Prepayment Rate | 22.90% | ||||
Collateralized Mortgage Obligations | Trading account securities | Fair Value, Measurements, Recurring | Minimum | Fair Value Inputs Level 3 Internal Valuation Technique | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Weighted Average Life | 1 year 7 months | ||||
Yield | 3.70% | ||||
Constant Prepayment Rate | 20.20% | ||||
Collateralized Mortgage Obligations | Trading account securities | Fair Value, Measurements, Recurring | Weighted Average | Fair Value Inputs Level 3 Internal Valuation Technique | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Weighted Average Life | 2 years 1 month | ||||
Yield | 3.90% | ||||
Constant Prepayment Rate | 21.20% | ||||
Other | Fair Value, Measurements, Recurring | |||||
Assets, Fair Value Disclosure [Abstract] | |||||
Trading Securities | $ 12,179 | $ 14,565 | |||
Other | Trading account securities | Fair Value, Measurements, Recurring | Fair Value Inputs Level 3 Internal Valuation Technique | |||||
Assets, Fair Value Disclosure [Abstract] | |||||
Trading Securities | $ 549 | ||||
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, Measurements, Recurring | Weighted Average | Fair Value Inputs Level 3 Internal Valuation Technique | |||||
Fair Value Inputs Quantitative Information [Abstract] | |||||
Weighted Average Life | 5 years 4 months | ||||
Yield | 12.50% | ||||
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. |
Note Fair value measurement - A
Note Fair value measurement - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
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 | $ 4,164 | $ 0 | $ 4,252 | $ 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] | ||||
Financial instruments measured at fair value on a recurring basis, transfers out of Level 3 | 0 | $ 0 | ||
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] | ||||
Financial instruments measured at fair value on a recurring basis, transfers out of Level 3 | $ 3,888 | $ 3,888 | ||
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, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Dec. 31, 2015 | |||
Financial Assets: | |||||||
Cash And Due From Banks | $ 517,437 | $ 362,394 | |||||
Money market investments | 5,488,212 | 2,890,217 | |||||
Trading account securities, excluding derivatives | 45,951 | 59,805 | |||||
Available For Sale Securities | 9,061,001 | [1] | 8,209,806 | [2] | |||
Investment securities held-to-maturity, at amortized cost | 93,438 | [3] | 98,101 | [4] | |||
Held To Maturity Securities Fair Value | 74,512 | [3] | 75,576 | [4] | |||
Other investment securities | |||||||
FDIC loss-share asset | 48,470 | 69,334 | |||||
Mortgage servicing rights | 180,157 | 196,889 | $ 200,354 | $ 211,405 | |||
Derivatives | 14,234 | 14,094 | |||||
Deposits | |||||||
Time deposits | 7,612,523 | 7,709,542 | |||||
Total deposits | 34,248,936 | 30,496,224 | |||||
Notes payable: | |||||||
Others | 17,294 | 18,071 | |||||
Notes Payable | 1,532,061 | 1,574,852 | |||||
Carrying amount | |||||||
Financial Assets: | |||||||
Cash And Due From Banks | 517,437 | 362,394 | |||||
Money market investments | 5,488,212 | 2,890,217 | |||||
Trading account securities, excluding derivatives | [5] | 45,951 | 59,796 | ||||
Available For Sale Securities | [5] | 9,061,001 | 8,209,806 | ||||
Investment securities held-to-maturity, at amortized cost | 93,438 | 98,101 | |||||
Other investment securities | |||||||
FHLB Stock | 64,208 | 58,033 | |||||
FRB stock | 94,644 | 94,672 | |||||
Trust preferred securities fair value | 13,198 | 13,198 | |||||
Other investments | 1,915 | 1,915 | |||||
Total other investment securities | 173,965 | 167,818 | |||||
Loans held-for-sale | 68,864 | 88,821 | |||||
Loans covered under loss sharing agreements with the FDIC | 491,797 | 542,528 | |||||
FDIC loss-share asset | 48,470 | 69,334 | |||||
Mortgage servicing rights | 180,157 | 196,889 | |||||
Derivatives | 14,234 | 14,094 | |||||
Deposits | |||||||
Demand deposits | 26,636,413 | 22,786,682 | |||||
Time deposits | 7,612,523 | 7,709,542 | |||||
Total deposits | 34,248,936 | 30,496,224 | |||||
Federal funds purchased and assets sold under agreements to repurchase | 374,405 | 479,425 | |||||
Other short-term borrowings | [6] | 240,598 | 1,200 | ||||
Notes payable: | |||||||
Advances with the FHLB | 629,072 | 672,670 | |||||
Senior Long Term Notes | 446,351 | 444,788 | |||||
Junior Subordinated Debenture Owed To Unconsolidated Subsidiary Trust | 439,344 | 439,323 | |||||
Others | 17,294 | 18,071 | |||||
Notes Payable | 1,532,061 | 1,574,852 | |||||
Derivatives | 12,841 | 12,842 | |||||
Contingent consideration | 166,876 | 153,158 | |||||
Fair Value | |||||||
Financial Assets: | |||||||
Cash And Cash Equivalents Fair Value Disclosure | 517,437 | 362,394 | |||||
Money Market Investments Fair Value | 5,488,212 | 2,890,217 | |||||
Trading account securities, excluding derivatives | 45,951 | 59,796 | |||||
Available For Sale Securities | 9,061,001 | 8,209,806 | |||||
Held To Maturity Securities Fair Value | 74,512 | 75,576 | |||||
Other investment securities | |||||||
FHLB Stock | 64,208 | 58,033 | |||||
FRB stock | 94,644 | 94,672 | |||||
Trust preferred securities | 13,198 | 13,198 | |||||
Other investments | 5,091 | 4,987 | |||||
Total other investment securities | 177,141 | 170,890 | |||||
Loans held-for-sale | 70,499 | 90,013 | |||||
F D I C Indemnification Asset Fair Value Portion | 37,703 | 63,187 | |||||
Mortgage servicing rights | 180,157 | 196,889 | |||||
Derivatives | 14,234 | 14,094 | |||||
Deposits | |||||||
Demand deposits | 26,636,413 | 22,786,682 | |||||
Time deposits | 7,504,546 | 7,708,724 | |||||
Deposits | 34,140,959 | 30,495,406 | |||||
Federal funds purchased and assets sold under agreements to repurchase | 374,377 | 479,439 | |||||
Other short-term borrowings | 240,598 | 1,200 | |||||
Notes payable: | |||||||
FHLB advances | 629,538 | 671,872 | |||||
Unsecured senior debt securities | 470,043 | 466,263 | |||||
Junior subordinated deferrable interest debentures | 411,776 | 399,370 | |||||
Others | 17,294 | 18,071 | |||||
Notes payable | 1,528,651 | 1,555,576 | |||||
Derivatives | 12,841 | 12,842 | |||||
Contingent consideration | 166,876 | 153,158 | |||||
Obligations of Puerto Rico, States and political subdivisions | |||||||
Financial Assets: | |||||||
Available For Sale Securities | 6,615 | 22,771 | |||||
Investment securities held-to-maturity, at amortized cost | 92,369 | 96,027 | |||||
Held To Maturity Securities Fair Value | 73,460 | 73,540 | |||||
Obligations of Puerto Rico, States and political subdivisions | Carrying amount | |||||||
Financial Assets: | |||||||
Investment securities held-to-maturity, at amortized cost | 92,369 | 96,027 | |||||
Obligations of Puerto Rico, States and political subdivisions | Fair Value | |||||||
Financial Assets: | |||||||
Held To Maturity Securities Fair Value | 73,460 | 73,540 | |||||
Collateralized Mortgage Obligations - Federal agencies | |||||||
Financial Assets: | |||||||
Available For Sale Securities | 1,015,597 | 1,221,526 | |||||
Investment securities held-to-maturity, at amortized cost | 69 | 74 | |||||
Held To Maturity Securities Fair Value | 73 | 78 | |||||
Collateralized Mortgage Obligations - Federal agencies | Carrying amount | |||||||
Financial Assets: | |||||||
Investment securities held-to-maturity, at amortized cost | 69 | 74 | |||||
Collateralized Mortgage Obligations - Federal agencies | Fair Value | |||||||
Financial Assets: | |||||||
Held To Maturity Securities Fair Value | 73 | 78 | |||||
Other | |||||||
Financial Assets: | |||||||
Available For Sale Securities | 869 | 9,585 | |||||
Investment securities held-to-maturity, at amortized cost | 1,000 | 2,000 | |||||
Held To Maturity Securities Fair Value | 979 | 1,958 | |||||
Other | Carrying amount | |||||||
Financial Assets: | |||||||
Investment securities held-to-maturity, at amortized cost | 1,000 | 2,000 | |||||
Other | Fair Value | |||||||
Financial Assets: | |||||||
Held To Maturity Securities Fair Value | 979 | 1,958 | |||||
Level 1 | |||||||
Financial Assets: | |||||||
Cash And Cash Equivalents Fair Value Disclosure | 517,437 | 362,394 | |||||
Money Market Investments Fair Value | 5,479,268 | 2,854,777 | |||||
Trading account securities, excluding derivatives | [5] | 0 | 0 | ||||
Available For Sale Securities | [5] | 0 | 0 | ||||
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 | 8,944 | 35,440 | |||||
Trading account securities, excluding derivatives | [5] | 44,787 | 53,118 | ||||
Available For Sale Securities | [5] | 9,059,713 | 8,208,414 | ||||
Held To Maturity Securities Fair Value | 742 | 1,738 | |||||
Other investment securities | |||||||
FHLB Stock | 64,208 | 58,033 | |||||
FRB stock | 94,644 | 94,672 | |||||
Trust preferred securities | 13,198 | 13,198 | |||||
Other investments | 0 | 0 | |||||
Total other investment securities | 172,050 | 165,903 | |||||
Loans held-for-sale | 0 | 504 | |||||
F D I C Indemnification Asset Fair Value Portion | 0 | 0 | |||||
Mortgage servicing rights | 0 | 0 | |||||
Derivatives | 14,234 | 14,094 | |||||
Deposits | |||||||
Demand deposits | 26,636,413 | 22,786,682 | |||||
Time deposits | 7,504,546 | 7,708,724 | |||||
Deposits | 34,140,959 | 30,495,406 | |||||
Federal funds purchased and assets sold under agreements to repurchase | 374,377 | 479,439 | |||||
Other short-term borrowings | [6] | 240,598 | 1,200 | ||||
Notes payable: | |||||||
FHLB advances | 629,538 | 671,872 | |||||
Unsecured senior debt securities | 470,043 | 466,263 | |||||
Junior subordinated deferrable interest debentures | 411,776 | 399,370 | |||||
Others | 0 | 0 | |||||
Notes payable | 1,511,357 | 1,537,505 | |||||
Derivatives | 12,841 | 12,842 | |||||
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 | 742 | 1,738 | |||||
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] | 1,164 | 6,678 | ||||
Available For Sale Securities | [5] | 1,288 | 1,392 | ||||
Held To Maturity Securities Fair Value | 73,770 | 73,838 | |||||
Other investment securities | |||||||
FHLB Stock | 0 | 0 | |||||
FRB stock | 0 | 0 | |||||
Trust preferred securities | 0 | 0 | |||||
Other investments | 5,091 | 4,987 | |||||
Total other investment securities | 5,091 | 4,987 | |||||
Loans held-for-sale | 70,499 | 89,509 | |||||
F D I C Indemnification Asset Fair Value Portion | 37,703 | 63,187 | |||||
Mortgage servicing rights | 180,157 | 196,889 | |||||
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 | 17,294 | 18,071 | |||||
Notes payable | 17,294 | 18,071 | |||||
Derivatives | 0 | 0 | |||||
Contingent consideration | 166,876 | 153,158 | |||||
Level 3 | Obligations of Puerto Rico, States and political subdivisions | |||||||
Financial Assets: | |||||||
Held To Maturity Securities Fair Value | 73,460 | 73,540 | |||||
Level 3 | Collateralized Mortgage Obligations - Federal agencies | |||||||
Financial Assets: | |||||||
Held To Maturity Securities Fair Value | 73 | 78 | |||||
Level 3 | Other | |||||||
Financial Assets: | |||||||
Held To Maturity Securities Fair Value | 237 | 220 | |||||
Non-covered loans | Carrying amount | |||||||
Other investment securities | |||||||
Loans held in portfolio, net | 22,559,594 | 22,263,446 | |||||
Non-covered loans | Fair Value | |||||||
Other investment securities | |||||||
Loans Receivable, Fair Value Disclosure | 20,896,277 | 20,578,904 | |||||
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 | 20,896,277 | 20,578,904 | |||||
Covered loans | Fair Value | |||||||
Other investment securities | |||||||
Loans Receivable, Fair Value Disclosure | 483,155 | 515,808 | |||||
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 | $ 483,155 | $ 515,808 | |||||
[1] | Includes $6.7 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 $5.7 billion serve as collateral for public funds. | ||||||
[2] | Includes $4.1 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 $3.4 billion serve as collateral for public funds. | ||||||
[3] | Includes $92.4 million pledged to secure public and trust deposits that the secured parties are not permitted to sell or repledge the collateral. | ||||||
[4] | Includes $53.1 million pledged to secure public and trust deposits that the secured parties are not permitted to sell or repledge the collateral. | ||||||
[5] | Refer to Note 25 to the C onsolidated F inancial S tatements for the fair value by class of financial asset and its hierarchy level. | ||||||
[6] | Refer to Note 17 to the Consolidated F inancial S tatements for the composition of other short-term borrowings. |
Note Fair Value of financial180
Note Fair Value of financial instruments- Additional Information (Detail) - USD ($) $ in Millions | Sep. 30, 2017 | Dec. 31, 2016 |
Letter Of Credit | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fair Value Disclosure Off balance Sheet Risks Face Amount Asset | $ 34 | $ 36 |
Commitments To Extend Credit | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fair Value Disclosure Off balance Sheet Risks Face Amount Asset | $ 7,300 | $ 7,800 |
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, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Earnings Per Share, Basic and Diluted [Abstract] | ||||
Net Income | $ 20,664 | $ 46,810 | $ 209,835 | $ 220,796 |
Preferred stock dividends | (930) | (930) | (2,792) | (2,792) |
Net income (loss) applicable to common stock | $ 19,734 | $ 45,880 | $ 207,043 | $ 218,004 |
Average common shares outstanding | 101,652,352 | 103,296,443 | 102,057,607 | 103,243,851 |
Average potential dilutive common shares | 111,520 | 168,942 | 127,937 | 140,098 |
Average common shares outstanding - assuming dilution | 101,763,872 | 103,465,385 | 102,185,544 | 103,383,949 |
Net Income per Common Share - Basic | $ 0.19 | $ 0.44 | $ 2.03 | $ 2.11 |
Net Income per Common Share - Diluted | $ 0.19 | $ 0.44 | $ 2.03 | $ 2.11 |
Note Net income (loss) per comm
Note Net income (loss) per common share - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017 | Mar. 31, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Earnings Per Share, Basic and Diluted, Other Disclosures [Abstract] | |||||
Accelerated Share Repurchases Final Price Paid Per Share | $ 40.6 | ||||
Stock Repurchase Program Authorized Amount | $ 75 | ||||
Total Common Shares Repurchased Accelerated Share Repurchase Agreements | 1,847,372 | ||||
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) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Disclosure - Other Services Fees by Major Categories [Abstract] | ||||
Debit card fees | $ 10,359 | $ 11,483 | $ 33,478 | $ 34,153 |
Insurance fees | 13,076 | 15,943 | 39,410 | 42,678 |
Credit card fees | 16,699 | 17,644 | 54,280 | 52,202 |
Sale and administration of investment products | 5,496 | 5,542 | 16,377 | 15,798 |
Trust fees | 4,817 | 4,968 | 14,675 | 14,029 |
Other fees | 3,034 | 3,589 | 10,604 | 10,636 |
Total other services fees | $ 53,481 | $ 59,169 | $ 168,824 | $ 169,496 |
Note FDIC loss share (expense)
Note FDIC loss share (expense) income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | ||
Disclosure F D I C Loss Share Expense Income [Abstract] | |||||
Accretion of loss share indemnification asset, net | $ 567 | $ (1,259) | $ (62) | $ (9,337) | |
80% mirror accounting on credit impairment losses (reversal) | [1] | (329) | 659 | 1,945 | (959) |
80% mirror accounting on reimbursable expenses | 588 | 853 | 2,232 | 7,038 | |
80% mirror accounting on recoveries on covered assets, including rental income on OREOs, subject to reimbursement to the FDIC | (1,601) | (522) | 2,832 | (5,123) | |
Change in true-up payment obligation | (3,208) | (6,611) | (13,718) | (14,742) | |
Arbitration decision charge | 0 | (54,924) | 0 | (54,924) | |
Other | 35 | 81 | (5,909) | 602 | |
FDIC loss share (expense) income | $ (3,948) | $ (61,723) | $ (12,680) | $ (77,445) | |
[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. |
Note FDIC loss share (expens185
Note FDIC loss share (expense) income (Parenthetical) (Detail) | 9 Months Ended |
Sep. 30, 2017 | |
FDIC | |
F D I C Loss Share Expense Income [Line Items] | |
Loss Sharing Agreement Allocation Percentage | 80.00% |
Note FDIC loss share (expens186
Note FDIC loss share (expense) income - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2017 | |
F D I C Loss Share Expense Income [Line Items] | |
Limited Period For The F D I C Loss Sharing Agreements Covered For Interest Not Collected | approximately 90 days |
Note Pension and postretirement
Note Pension and postretirement benefits (Components of net periodic pension cost) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Pension Plans, Defined Benefit [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Interest cost | $ 6,120 | $ 6,291 | $ 18,359 | $ 18,873 |
Expected return on plan assets | (10,186) | (9,623) | (30,557) | (28,869) |
Amortization of net loss (gain) | 5,053 | 4,881 | 15,160 | 14,640 |
Total net periodic pension (benefit) cost | 987 | 1,549 | 2,962 | 4,644 |
Other Pension Plans Defined Benefit Member | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Interest cost | 352 | 348 | 1,057 | 1,044 |
Expected return on plan assets | (502) | (538) | (1,508) | (1,614) |
Amortization of net loss (gain) | 411 | 332 | 1,233 | 996 |
Total net periodic pension (benefit) cost | $ 261 | $ 142 | $ 782 | $ 426 |
Note Pension and postretirem188
Note Pension and postretirement benefits (Components of net periodic postretirement benefit cost) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Pension and Other Postretirement Benefits Disclosure [Line Items] | ||||
Amortization of prior service credit | $ (950) | $ (950) | $ (2,850) | $ (2,850) |
Other Postretirement Benefit Plans Defined Benefit [Member] | ||||
Pension and Other Postretirement Benefits Disclosure [Line Items] | ||||
Service cost | 256 | 289 | 769 | 867 |
Interest cost | 1,426 | 1,505 | 4,277 | 4,515 |
Amortization of prior service credit | (950) | (950) | (2,850) | (2,850) |
Amortization of net loss (gain) | 142 | 275 | 426 | 825 |
Total net periodic pension cost | $ 874 | $ 1,119 | $ 2,622 | $ 3,357 |
Note Pension and postretirem189
Note Pension and postretirement benefits - Additional information (Detail) $ in Millions | 9 Months Ended |
Sep. 30, 2017USD ($) | |
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 | $ 16.2 |
Defined Benefit Plan Contributions By Employer | 16.1 |
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 | $ 1.4 |
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, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Roll Forward | |||||
Granted | 0 | 0 | 138,516 | 279,890 | |
Performance Based Shares | |||||
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Roll Forward | |||||
Beginning Balance | 383,982 | 495,731 | 495,731 | ||
Granted | 212,200 | 344,488 | |||
Quantity adjusted by TSR factor | (39,414) | 39,566 | |||
Vested | (188,399) | (487,784) | |||
Forfeited | (8,019) | ||||
Ending Balance | 368,369 | 368,369 | 383,982 | ||
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Additional Disclosures Abstract | |||||
Non-vested at beginning of period | $ 26.35 | $ 28.25 | $ 28.25 | ||
Granted | 42.57 | 25.86 | |||
Quantity adjusted by TSR factor | 33.77 | 24.37 | |||
Vested | 35.47 | 27.72 | |||
Forfeited | 29.13 | ||||
Non-vested at end of period | $ 30.24 | $ 30.24 | $ 26.35 |
Note Stock-based compensatio191
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, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Roll Forward | |||||
Beginning Balance | 0 | 0 | 0 | ||
Granted | 0 | 0 | 25,771 | 40,517 | 40,517 |
Vested | (25,771) | (40,517) | |||
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 | 38.42 | 29.77 | |||
Vested | 38.42 | 29.77 | |||
Forfeited | 0 | 0 | |||
Non-vested at end of period | $ 0 | $ 0 | $ 0 |
Note Stock-based compensation -
Note Stock-based compensation - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||||
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized | $ 7,900,000 | $ 7,900,000 | |||
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition | 2 years 5 months | ||||
Restricted Stock Units (RSUs) | |||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||||
Windfall Net Of Shortfall | $ 800,000 | ||||
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 (the “graduated vesting portion”) and the second part is vested at termination of employment after attainment of 55 years of age and 10 years of service (the “retirement vesting portion”). The graduated vesting portion is accelerated at termination of employment after attaining 55 years of age and 10 years of service. The vesting schedule for restricted shares granted on or after 2014 was modified as follows, the first part is vested ratably over four years commencing at the date of the grant (the “graduated vesting portion”) and the second part is vested at termination of employment after attainment of the earlier of 55 years of age and 10 years of service or 60 years of age and 5 years of service (the “retirement vesting portion”). The graduated vesting portion 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. | ||||
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 | 138,516 | 279,890 | |
Restricted Stock Expense | $ 1,000,000 | $ 1,000,000 | $ 4,800,000 | $ 6,600,000 | |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense | $ 200,000 | $ 200,000 | 900,000 | $ 1,200,000 | |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value | 6,400,000 | ||||
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 | $ 4,400,000 | ||||
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 | 0 | 25,771 | 40,517 | 40,517 |
Restricted Stock Expense | $ 300,000 | $ 300,000 | $ 1,000,000 | $ 800,000 | |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense | $ 39,000 | $ 31,000 | 100,000 | $ 84,000 | |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value | $ 1,000,000 | ||||
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 | 73,684 | 64,598 | |
Restricted Stock Expense | $ 300,000 | $ 100,000 | $ 2,400,000 | $ 1,300,000 | |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense | $ 42,000 | $ 11,000 | $ 200,000 | $ 100,000 | |
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) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Amount | ||||
Income tax expense | $ (19,966) | $ 15,839 | $ 48,772 | $ 80,550 |
PUERTO RICO | ||||
Amount | ||||
Computed income tax at statutory rates | 272 | 24,434 | 100,857 | 117,525 |
Net benefit of net tax exempt interest income | (19,563) | (15,620) | (56,408) | (47,094) |
Deferred tax asset valuation allowance | 5,142 | 5,698 | 15,262 | 14,407 |
Difference in tax rates due to multiple jurisdictions | 189 | (897) | (1,601) | (2,874) |
Unrecognized tax benefits | (1,185) | (4,442) | (1,185) | (4,442) |
State and local taxes | (64) | 1,557 | 2,800 | 6,642 |
Income tax expense | $ (19,966) | $ 15,839 | $ 48,772 | $ 80,550 |
% 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 | (2803.00%) | (25.00%) | (22.00%) | (16.00%) |
Deferred tax asset valuation allowance | 737.00% | 9.00% | 6.00% | 5.00% |
Difference in tax rates due to multiple jurisdictions | 27.00% | (1.00%) | (1.00%) | (1.00%) |
State and local taxes | (9.00%) | 2.00% | 1.00% | 2.00% |
Unrecognized tax benefits | (170.00%) | (7.00%) | 0.00% | (1.00%) |
Income tax (benefit) expense | (2861.00%) | 25.00% | 19.00% | 26.00% |
PUERTO RICO | Effect Of Income Subject To Preferential Tax Rate | ||||
Amount | ||||
Effect of income subject to preferential tax rate | $ (3,313) | $ 6,364 | $ (9,825) | $ (1,772) |
% of pre-tax income | ||||
Others | (475.00%) | 10.00% | (4.00%) | (1.00%) |
PUERTO RICO | Others | ||||
Amount | ||||
Effect of income subject to preferential tax rate | $ (1,444) | $ (1,255) | $ (1,128) | $ (1,842) |
% of pre-tax income | ||||
Others | (207.00%) | (2.00%) | 0.00% | (1.00%) |
Note Income taxes (Components o
Note Income taxes (Components of deferred tax assets and liabilities) (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Deferred tax assets: | ||
Tax credits available for carryforward | $ 18,027 | $ 18,510 |
Net operating loss and other carryforward available | 1,223,823 | 1,238,222 |
Postretirement and pension benefits | 83,925 | 94,741 |
Allowance for loan losses | 655,096 | 649,107 |
Accelerated depreciation | 11,605 | 9,828 |
Difference between the assigned values and the tax basis of assets and liabilities recognized in purchase business combinations | 17,107 | 13,160 |
Other temporary differences | 36,262 | 31,127 |
Total gross deferred tax assets | 2,055,324 | 2,068,697 |
Deferred tax liabilities: | ||
FDIC-assisted transaction | 58,009 | 58,363 |
Indefinite-lived intangibles | 79,497 | 73,974 |
Unrealized net gain on trading and available-for-sale securities | 23,590 | 21,335 |
Other temporary differences | 10,014 | 8,477 |
Total gross deferred tax liabilities | 171,110 | 162,149 |
Valuation allowance | 678,086 | 664,287 |
Net deferred tax asset | 1,206,128 | 1,242,261 |
PUERTO RICO | ||
Deferred tax assets: | ||
Tax credits available for carryforward | 16,069 | 16,552 |
Net operating loss and other carryforward available | 117,273 | 112,929 |
Postretirement and pension benefits | 83,925 | 94,741 |
Allowance for loan losses | 616,572 | 628,127 |
Accelerated depreciation | 1,325 | 605 |
Difference between the assigned values and the tax basis of assets and liabilities recognized in purchase business combinations | 17,107 | 13,160 |
Other temporary differences | 22,750 | 16,417 |
Total gross deferred tax assets | 878,758 | 889,362 |
Deferred tax liabilities: | ||
FDIC-assisted transaction | 58,009 | 58,363 |
Indefinite-lived intangibles | 31,083 | 28,412 |
Unrealized net gain on trading and available-for-sale securities | 31,127 | 30,334 |
Other temporary differences | 9,429 | 7,892 |
Total gross deferred tax liabilities | 129,648 | 125,001 |
Valuation allowance | 62,213 | 46,951 |
Net deferred tax asset | 686,897 | 717,410 |
UNITED STATES | ||
Deferred tax assets: | ||
Tax credits available for carryforward | 1,958 | 1,958 |
Net operating loss and other carryforward available | 1,106,550 | 1,125,293 |
Postretirement and pension benefits | 0 | 0 |
Allowance for loan losses | 38,524 | 20,980 |
Accelerated depreciation | 10,280 | 9,223 |
Difference between the assigned values and the tax basis of assets and liabilities recognized in purchase business combinations | 0 | 0 |
Other temporary differences | 13,512 | 14,710 |
Total gross deferred tax assets | 1,176,566 | 1,179,335 |
Deferred tax liabilities: | ||
FDIC-assisted transaction | 0 | 0 |
Indefinite-lived intangibles | 48,414 | 45,562 |
Unrealized net gain on trading and available-for-sale securities | (7,537) | (8,999) |
Other temporary differences | 585 | 585 |
Total gross deferred tax liabilities | 41,462 | 37,148 |
Valuation allowance | 615,873 | 617,336 |
Net deferred tax asset | 519,231 | 524,851 |
Deferred loans origination fees | ||
Deferred tax assets: | ||
Deferred income | 5,248 | 6,622 |
Deferred loans origination fees | PUERTO RICO | ||
Deferred tax assets: | ||
Deferred income | 3,768 | 4,335 |
Deferred loans origination fees | UNITED STATES | ||
Deferred tax assets: | ||
Deferred income | 1,480 | 2,287 |
Deferred gain | ||
Deferred tax assets: | ||
Deferred income | 4,262 | 4,884 |
Deferred gain | PUERTO RICO | ||
Deferred tax assets: | ||
Deferred income | 0 | 0 |
Deferred gain | UNITED STATES | ||
Deferred tax assets: | ||
Deferred income | 4,262 | 4,884 |
Intercompany deferred gains | ||
Deferred tax assets: | ||
Deferred income | (31) | 2,496 |
Intercompany deferred gains | PUERTO RICO | ||
Deferred tax assets: | ||
Deferred income | (31) | 2,496 |
Intercompany deferred gains | UNITED STATES | ||
Deferred tax assets: | ||
Deferred income | $ 0 | $ 0 |
Note Income taxes (Reconciliati
Note Income taxes (Reconciliation of unrecognized tax benefits) (Detail) - USD ($) $ in Millions | 3 Months Ended | |||||
Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | |
Income Tax Disclosure | ||||||
Beginning Balance | $ 7.6 | $ 7.6 | $ 7.4 | $ 9.7 | $ 9.4 | $ 9 |
Addition for tax positions | 0.3 | 0.3 | 0.2 | 0.3 | 0.3 | 0.2 |
Additions for tax positions taken in prior years | 0 | 0 | 0.1 | 0.2 | ||
Reduction as a result of lapse of statute of limitations | (0.9) | (3) | ||||
Reduction as a result of settlements | (0.3) | 0 | 0 | 0 | ||
Ending Balance | $ 7 | $ 7.6 | $ 7.6 | $ 7.1 | $ 9.7 | $ 9.4 |
Note Income taxes - Additional
Note Income taxes - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Income Taxes [Line Items] | |||||
Deferred Tax Assets Net | $ 1,207,597 | $ 1,207,597 | $ 1,243,668 | ||
Unrecognized Tax Benefits Interest On Income Taxes Accrued | 2,600 | 2,600 | 2,900 | ||
Unrecognized Tax Benefits That Would Impact Effective Tax Rate | 8,500 | 8,500 | 9,000 | ||
Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit | 4,500 | 4,500 | |||
Unrecognized Tax Benefits Current Interest On Income Taxes Accrued | 458 | 458 | 1,200 | ||
Deferred Tax Liabilities | 171,110 | 171,110 | 162,149 | ||
Deferred Tax Assets Valuation Allowance | 678,086 | 678,086 | 664,287 | ||
Unrecognized Tax Benefits Expected Decreases Resulting From Settlements With Taxing Authorities | 505 | 505 | |||
Income Tax Expense Benefit | (19,966) | $ 15,839 | 48,772 | $ 80,550 | |
Other liabilities | |||||
Income Taxes [Line Items] | |||||
Deferred Tax Liabilities | 1,400 | 1,400 | 1,400 | ||
PUERTO RICO | |||||
Income Taxes [Line Items] | |||||
Deferred Tax Assets Net | 687,000 | 687,000 | |||
Deferred Tax Liabilities | 129,648 | 129,648 | 125,001 | ||
Deferred Tax Assets Valuation Allowance | 62,213 | 62,213 | 46,951 | ||
Unrecognized tax benefits | (1,185) | (4,442) | (1,185) | (4,442) | |
Income Tax Expense Benefit | (19,966) | 15,839 | 48,772 | 80,550 | |
UNITED STATES | |||||
Income Taxes [Line Items] | |||||
Deferred Tax Assets Net | 519,000 | 519,000 | |||
Deferred Tax Liabilities | 41,462 | 41,462 | 37,148 | ||
Deferred Tax Assets Valuation Allowance | 615,873 | 615,873 | $ 617,336 | ||
Deferred Tax Assets | 1,100,000 | 1,100,000 | |||
Popular, Inc. Holding Co. | |||||
Income Taxes [Line Items] | |||||
Income Tax Expense Benefit | 0 | $ (2) | 0 | $ 1 | |
Popular, Inc. Holding Co. | PUERTO RICO | |||||
Income Taxes [Line Items] | |||||
Deferred Tax Assets Valuation Allowance | $ 62,000 | $ 62,000 |
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, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | ||
Cash Flow Noncash Investing And Financing Activities Disclosure Abstract | ||||
Transfers Of Loans To Other Real Estate Owned | $ 80,992 | $ 93,412 | ||
Transfers Of Loans To Other Property | 22,987 | 22,408 | ||
Total loans transferred to foreclosed assets | 103,979 | 115,820 | ||
Financed sales of other real estate assets | 10,621 | 11,861 | ||
Financed sales of other foreclosed assets | 5,964 | 13,426 | ||
Total financed sales of other foreclosed and real estate assets | 16,585 | 25,287 | ||
Transfer Of Loans Held For Sale To Portfolio Loans 1 | 1,705 | 5,947 | ||
Account receivable from sale of loans | 0 | 0 | ||
Noncash Transfer To Securities From Loans Resulting From Securitization | [1] | 454,507 | 594,094 | |
Trades receivables from brokers and counterparties | 999 | 80,125 | $ 46,630 | |
Trades Payables To Brokers And Counterparties | 999 | 22,174 | ||
Receivables from investment maturities | 270,000 | 0 | $ 0 | |
Recognition of mortgage servicing rights on securitizations or asset transfers | $ 7,530 | $ 7,886 | ||
[1] | Includes loans securitized into trading securities and subsequently sold before quarter end. |
Note Segment reporting (Results
Note Segment reporting (Results of Operations) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Segment Reporting Information [Line Items] | |||||
Net Interest income (expense) | $ 378,171 | $ 353,687 | $ 1,114,748 | $ 1,066,650 | |
Provision for loan losses | 160,759 | 43,344 | 253,936 | 128,651 | |
Non interest Income | 100,374 | 75,978 | 333,036 | 298,111 | |
Amortization of intangibles | 2,345 | 3,097 | 7,034 | 9,308 | |
Goodwill, Impairment Loss | 0 | 3,801 | 0 | 3,801 | |
Depreciation expense | 12,038 | 11,584 | 35,966 | 34,725 | |
Other operating expenses | 302,705 | 305,190 | 892,241 | 886,930 | |
Income tax expense | (19,966) | 15,839 | 48,772 | 80,550 | |
Net Income (loss) | 20,664 | 46,810 | 209,835 | 220,796 | |
Assets | 42,601,267 | 39,054,296 | 42,601,267 | 39,054,296 | $ 38,661,609 |
Reportable Segment | |||||
Segment Reporting Information [Line Items] | |||||
Net Interest income (expense) | 392,605 | 368,714 | 1,159,091 | 1,112,187 | |
Provision for loan losses | 160,721 | 43,377 | 259,583 | 128,686 | |
Non interest Income | 93,153 | 65,862 | 304,870 | 272,869 | |
Amortization of intangibles | 2,345 | 3,097 | 7,034 | 9,308 | |
Goodwill, Impairment Loss | 3,801 | 3,801 | |||
Depreciation expense | 11,879 | 11,440 | 35,487 | 34,228 | |
Other operating expenses | 285,386 | 293,186 | 837,120 | 838,287 | |
Income tax expense | (12,821) | 20,678 | 70,055 | 103,410 | |
Net Income (loss) | 38,248 | 58,997 | 254,682 | 267,336 | |
Assets | 42,330,871 | 38,837,342 | 42,330,871 | 38,837,342 | |
Intersegment Elimination | |||||
Segment Reporting Information [Line Items] | |||||
Net Interest income (expense) | 7 | (281) | (207) | (281) | |
Provision for loan losses | 0 | 0 | 0 | 0 | |
Non interest Income | (141) | 28 | (431) | 28 | |
Amortization of intangibles | 0 | 0 | 0 | 0 | |
Goodwill, Impairment Loss | 0 | 0 | |||
Depreciation expense | 0 | 0 | 0 | 0 | |
Other operating expenses | (138) | (639) | (414) | (639) | |
Income tax expense | 0 | 162 | (93) | 162 | |
Net Income (loss) | 4 | 224 | (131) | 224 | |
Assets | (24,615) | (16,818) | (24,615) | (16,818) | |
Corporate | |||||
Segment Reporting Information [Line Items] | |||||
Net Interest income (expense) | (14,434) | (15,140) | (44,343) | (45,537) | |
Provision for loan losses | 38 | (33) | 308 | (35) | |
Non interest Income | 7,277 | 10,468 | 29,616 | 26,707 | |
Amortization of intangibles | 0 | 0 | 0 | 0 | |
Goodwill, Impairment Loss | 0 | 0 | |||
Depreciation expense | 159 | 144 | 479 | 497 | |
Other operating expenses | 17,944 | 12,164 | 57,145 | 50,613 | |
Income tax expense | (7,360) | (4,807) | (23,819) | (23,068) | |
Net Income (loss) | (17,938) | (12,140) | (48,840) | (46,837) | |
Assets | 5,003,304 | 4,949,819 | 5,003,304 | 4,949,819 | |
Eliminations | |||||
Segment Reporting Information [Line Items] | |||||
Net Interest income (expense) | 0 | 113 | 0 | 0 | |
Provision for loan losses | 0 | 0 | (5,955) | 0 | |
Non interest Income | (56) | (352) | (1,450) | (1,465) | |
Amortization of intangibles | 0 | 0 | 0 | 0 | |
Goodwill, Impairment Loss | 0 | 0 | |||
Depreciation expense | 0 | 0 | 0 | 0 | |
Other operating expenses | (625) | (160) | (2,024) | (1,970) | |
Income tax expense | 215 | (32) | 2,536 | 208 | |
Net Income (loss) | 354 | (47) | 3,993 | 297 | |
Assets | (4,732,908) | (4,732,865) | (4,732,908) | (4,732,865) | |
Banco Popular de Puerto Rico | |||||
Segment Reporting Information [Line Items] | |||||
Goodwill, Impairment Loss | 3,801 | 0 | 3,801 | ||
Banco Popular de Puerto Rico | Reportable Segment | |||||
Segment Reporting Information [Line Items] | |||||
Net Interest income (expense) | 321,145 | 303,656 | 951,024 | 919,366 | |
Provision for loan losses | 118,177 | 37,064 | 198,668 | 116,987 | |
Non interest Income | 88,170 | 60,453 | 290,042 | 257,260 | |
Amortization of intangibles | 2,178 | 2,931 | 6,535 | 8,809 | |
Depreciation expense | 9,751 | 9,774 | 29,296 | 29,885 | |
Other operating expenses | 243,564 | 246,451 | 713,594 | 705,825 | |
Income tax expense | (8,704) | 14,479 | 56,946 | 77,651 | |
Net Income (loss) | 44,349 | 49,609 | 236,027 | 233,668 | |
Assets | 33,031,839 | 30,403,259 | 33,031,839 | 30,403,259 | |
Banco Popular de Puerto Rico | Commercial Banking | Reportable Segment | |||||
Segment Reporting Information [Line Items] | |||||
Net Interest income (expense) | 132,101 | 116,362 | 380,761 | 355,061 | |
Provision for loan losses | 27,647 | 13,213 | 27,970 | 26,969 | |
Non interest Income | 19,733 | (24,191) | 60,496 | 16,776 | |
Amortization of intangibles | 54 | 22 | 158 | 92 | |
Goodwill, Impairment Loss | 0 | 0 | |||
Depreciation expense | 4,386 | 4,188 | 12,994 | 12,735 | |
Other operating expenses | 61,843 | 60,630 | 177,278 | 183,706 | |
Income tax expense | 11,925 | 7,542 | 60,780 | 48,939 | |
Net Income (loss) | 45,979 | 6,576 | 162,077 | 99,396 | |
Assets | 21,258,790 | 16,032,323 | 21,258,790 | 16,032,323 | |
Banco Popular de Puerto Rico | Consumer and Retail Banking | Reportable Segment | |||||
Segment Reporting Information [Line Items] | |||||
Net Interest income (expense) | 186,827 | 186,445 | 564,956 | 557,489 | |
Provision for loan losses | 90,530 | 23,851 | 170,698 | 90,018 | |
Non interest Income | 46,022 | 59,284 | 162,613 | 168,860 | |
Amortization of intangibles | 1,066 | 1,838 | 3,206 | 5,484 | |
Goodwill, Impairment Loss | 0 | 0 | |||
Depreciation expense | 5,207 | 5,380 | 15,759 | 16,491 | |
Other operating expenses | 164,981 | 165,124 | 492,939 | 467,448 | |
Income tax expense | (22,811) | 6,894 | (12,760) | 24,410 | |
Net Income (loss) | (6,124) | 42,642 | 57,727 | 122,498 | |
Assets | 18,501,519 | 17,753,118 | 18,501,519 | 17,753,118 | |
Banco Popular de Puerto Rico | Other Financial Services | Reportable Segment | |||||
Segment Reporting Information [Line Items] | |||||
Net Interest income (expense) | 2,213 | 1,379 | 5,295 | 4,674 | |
Provision for loan losses | 0 | 0 | 0 | 0 | |
Non interest Income | 22,473 | 25,444 | 67,130 | 71,883 | |
Amortization of intangibles | 1,058 | 1,071 | 3,171 | 3,233 | |
Goodwill, Impairment Loss | 3,801 | 3,801 | |||
Depreciation expense | 158 | 206 | 543 | 659 | |
Other operating expenses | 16,809 | 20,781 | 43,606 | 54,930 | |
Income tax expense | 2,182 | 43 | 8,926 | 4,302 | |
Net Income (loss) | 4,479 | 921 | 16,179 | 9,632 | |
Assets | 522,008 | 371,027 | 522,008 | 371,027 | |
Banco Popular de Puerto Rico | Eliminations | Reportable Segment | |||||
Segment Reporting Information [Line Items] | |||||
Net Interest income (expense) | 4 | (530) | 12 | 2,142 | |
Provision for loan losses | 0 | 0 | 0 | 0 | |
Non interest Income | (58) | (84) | (197) | (259) | |
Amortization of intangibles | 0 | 0 | 0 | 0 | |
Goodwill, Impairment Loss | 0 | 0 | |||
Depreciation expense | 0 | 0 | 0 | 0 | |
Other operating expenses | (69) | (84) | (229) | (259) | |
Income tax expense | 0 | 0 | 0 | 0 | |
Net Income (loss) | 15 | (530) | 44 | 2,142 | |
Assets | (7,250,478) | (3,753,209) | (7,250,478) | (3,753,209) | |
Banco Popular North America | |||||
Segment Reporting Information [Line Items] | |||||
Goodwill, Impairment Loss | 0 | 0 | 0 | ||
Banco Popular North America | Reportable Segment | |||||
Segment Reporting Information [Line Items] | |||||
Net Interest income (expense) | 71,453 | 65,339 | 208,274 | 193,102 | |
Provision for loan losses | 42,544 | 6,313 | 60,915 | 11,699 | |
Non interest Income | 5,124 | 5,381 | 15,259 | 15,581 | |
Amortization of intangibles | 167 | 166 | 499 | 499 | |
Depreciation expense | 2,128 | 1,666 | 6,191 | 4,343 | |
Other operating expenses | 41,960 | 47,374 | 123,940 | 133,101 | |
Income tax expense | (4,117) | 6,037 | 13,202 | 25,597 | |
Net Income (loss) | (6,105) | 9,164 | 18,786 | 33,444 | |
Assets | $ 9,323,647 | $ 8,450,901 | $ 9,323,647 | $ 8,450,901 |
Note Segment reporting (Geograp
Note Segment reporting (Geographic information) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | ||
Segment Reporting Information [Line Items] | |||||
Net Revenue | [1] | $ 478,545 | $ 429,665 | $ 1,447,784 | $ 1,364,761 |
PUERTO RICO | |||||
Segment Reporting Information [Line Items] | |||||
Net Revenue | [1] | 378,790 | 333,006 | 1,157,324 | 1,097,944 |
UNITED STATES | |||||
Segment Reporting Information [Line Items] | |||||
Net Revenue | [1] | 81,652 | 77,816 | 234,778 | 209,999 |
Other | |||||
Segment Reporting Information [Line Items] | |||||
Net Revenue | [1] | $ 18,103 | $ 18,843 | $ 55,682 | $ 56,818 |
[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, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | |
Segment Reporting Information [Line Items] | ||||
Total assets | $ 42,601,267 | $ 38,661,609 | $ 39,054,296 | |
Deposits | 34,248,936 | 30,496,224 | ||
PUERTO RICO | ||||
Segment Reporting Information [Line Items] | ||||
Total assets | 31,901,778 | 28,813,289 | ||
Loans | 16,589,392 | 16,880,868 | ||
Deposits | 26,729,468 | 23,185,551 | ||
UNITED STATES | ||||
Segment Reporting Information [Line Items] | ||||
Total assets | 9,788,336 | 8,928,475 | ||
Loans | 6,433,673 | 5,799,562 | ||
Deposits | 6,508,324 | 6,266,473 | ||
Other | ||||
Segment Reporting Information [Line Items] | ||||
Total assets | 911,153 | 919,845 | ||
Loans | 744,103 | 755,017 | ||
Deposits | [1] | $ 1,011,144 | $ 1,044,200 | |
[1] | Represents deposits from BPPR operations located in the US and British Virgin Islands. |
Note Segment Reporting - Additi
Note Segment Reporting - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2017 | |
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, 2017, 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, Inc., 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, Inc. supported BPNA’s deposit gathering through its online platform until March 31, 2017, when said operations were transferred to Popular Direct, a division of BPNA. 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. |
Note Popular, Inc. (Holding com
Note Popular, Inc. (Holding company only) financial information (Statement of Cash Flows) (Detail) $ in Thousands | 9 Months Ended |
Sep. 30, 2017USD ($) | |
Proceeds from sale of: | |
Capital Contribution Subsidiaries | $ 0 |
Popular, Inc. Holding Co. | |
Proceeds from sale of: | |
Capital Contribution Subsidiaries | $ (5,955) |
Condensed Consolidating Stateme
Condensed Consolidating Statement of Condition (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | |||
Assets: | |||||||||
Cash And Due From Banks | $ 517,437 | $ 362,394 | |||||||
Money market investments | 5,488,212 | 2,890,217 | |||||||
Trading account securities, at fair value | 45,951 | 59,805 | |||||||
Investment securities available-for-sale, at fair value | 9,061,001 | [1] | 8,209,806 | [2] | |||||
Investment securities held-to-maturity, at amortized cost | 93,438 | [3] | 98,101 | [4] | |||||
Other investment securities, at lower of cost or realizable value | 173,965 | 167,818 | |||||||
Investment in subsidiaries | 0 | 0 | |||||||
Loans held-for-sale, at lower of cost or fair value | 68,864 | 88,821 | |||||||
Loans held-in-portfolio: | |||||||||
Loans not covered under loss-sharing agreements with the FDIC | 23,302,047 | 22,895,172 | |||||||
Loans covered under loss-sharing agreements with the FDIC | 524,854 | 572,878 | |||||||
Less - Unearned income | 128,597 | 121,425 | |||||||
Allowance for loan losses | 646,913 | $ 540,014 | 540,651 | $ 555,855 | $ 548,720 | $ 537,111 | |||
Total loans held-in-portfolio, net | 23,051,391 | 22,805,974 | |||||||
FDIC loss-share asset | 48,470 | 69,334 | |||||||
Premises and equipment, net | 532,532 | 543,981 | |||||||
Accrued income receivable | 146,339 | 138,042 | |||||||
Mortgage servicing assets, at fair value | 180,157 | 196,889 | 200,354 | 211,405 | |||||
Other assets | 2,329,927 | 2,145,510 | |||||||
Goodwill | 627,294 | 627,294 | 627,294 | 626,388 | |||||
Other intangible assets | 38,016 | 45,050 | |||||||
Total assets | 42,601,267 | 38,661,609 | 39,054,296 | ||||||
Deposits: | |||||||||
Non-interest bearing | 7,449,857 | 6,980,443 | |||||||
Interest bearing | 26,799,079 | 23,515,781 | |||||||
Total deposits | 34,248,936 | 30,496,224 | |||||||
Assets sold under agreements to repurchase | 374,405 | 479,425 | |||||||
Other short-term borrowings | 240,598 | 1,200 | |||||||
Notes payable | 1,532,061 | 1,574,852 | |||||||
Other liabilities | 919,836 | 911,951 | |||||||
Total liabilities | 37,315,836 | 33,463,652 | |||||||
Stockholders' equity: | |||||||||
Preferred stock | 50,160 | 50,160 | |||||||
Common stock | 1,042 | 1,040 | |||||||
Surplus | 4,265,053 | 4,255,022 | |||||||
Retained Earnings (Accumulated Deficit) | 1,350,730 | 1,220,307 | |||||||
Treasury stock | (90,222) | (8,286) | |||||||
Accumulated other comprehensive (loss) income, net of tax | [5] | (291,332) | (320,286) | (157,295) | |||||
Total stockholders' equity | 5,285,431 | 5,197,957 | $ 5,380,395 | $ 5,105,324 | |||||
Total liabilities and stockholders' equity | 42,601,267 | 38,661,609 | |||||||
Elimination | |||||||||
Assets: | |||||||||
Cash And Due From Banks | (44,620) | (48,081) | |||||||
Money market investments | (241,038) | (267,063) | |||||||
Trading account securities, at fair value | (108) | (132) | |||||||
Investment securities available-for-sale, at fair value | 0 | 0 | |||||||
Investment securities held-to-maturity, at amortized cost | 0 | 0 | |||||||
Other investment securities, at lower of cost or realizable value | 0 | 0 | |||||||
Investment in subsidiaries | (7,498,444) | (7,427,738) | |||||||
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 | 5,955 | 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 | 5,955 | 0 | |||||||
FDIC loss-share asset | 0 | 0 | |||||||
Premises and equipment, net | 0 | 0 | |||||||
Accrued income receivable | (76) | (90) | |||||||
Mortgage servicing assets, at fair value | 0 | 0 | |||||||
Other assets | (25,874) | (14,968) | |||||||
Goodwill | 0 | 0 | |||||||
Other intangible assets | 0 | 0 | |||||||
Total assets | (7,804,205) | (7,758,072) | |||||||
Deposits: | |||||||||
Non-interest bearing | (44,620) | (48,081) | |||||||
Interest bearing | (241,038) | (267,063) | |||||||
Total deposits | (285,658) | (315,144) | |||||||
Assets sold under agreements to repurchase | 0 | 0 | |||||||
Other short-term borrowings | 0 | 0 | |||||||
Notes payable | 0 | 0 | |||||||
Other liabilities | (24,157) | (15,253) | |||||||
Total liabilities | (309,815) | (330,397) | |||||||
Stockholders' equity: | |||||||||
Preferred stock | 0 | 0 | |||||||
Common stock | (56,309) | (56,309) | |||||||
Surplus | (9,792,901) | (9,819,746) | |||||||
Retained Earnings (Accumulated Deficit) | 2,047,315 | 2,108,578 | |||||||
Treasury stock | (89) | (88) | |||||||
Accumulated other comprehensive (loss) income, net of tax | 307,594 | 339,890 | |||||||
Total stockholders' equity | (7,494,390) | (7,427,675) | |||||||
Total liabilities and stockholders' equity | (7,804,205) | (7,758,072) | |||||||
Non Covered Under Loss Sharing Agreements with FDIC | |||||||||
Loans held-in-portfolio: | |||||||||
Other real estate owned | 176,728 | 180,445 | |||||||
Non Covered Under Loss Sharing Agreements with FDIC | Elimination | |||||||||
Loans held-in-portfolio: | |||||||||
Other real estate owned | 0 | 0 | |||||||
Covered Under Loss Sharing Agreements With FDIC Member | |||||||||
Loans held-in-portfolio: | |||||||||
Loans covered under loss-sharing agreements with the FDIC | 524,854 | [6] | 572,878 | [7] | |||||
Other real estate owned | 21,545 | 32,128 | |||||||
Covered Under Loss Sharing Agreements With FDIC Member | Elimination | |||||||||
Loans held-in-portfolio: | |||||||||
Other real estate owned | 0 | 0 | |||||||
Popular, Inc. Holding Co. | |||||||||
Assets: | |||||||||
Cash And Due From Banks | 44,155 | 47,783 | |||||||
Money market investments | 238,696 | 252,347 | |||||||
Trading account securities, at fair value | 3,600 | 2,640 | |||||||
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 | 9,850 | 9,850 | |||||||
Investment in subsidiaries | 5,673,204 | 5,609,611 | |||||||
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 | 32,877 | 1,142 | |||||||
Loans covered under loss-sharing agreements with the FDIC | 0 | 0 | |||||||
Less - Unearned income | 0 | 0 | |||||||
Allowance for loan losses | 311 | 2 | |||||||
Total loans held-in-portfolio, net | 32,566 | 1,140 | |||||||
FDIC loss-share asset | 0 | 0 | |||||||
Premises and equipment, net | 3,174 | 3,067 | |||||||
Accrued income receivable | 227 | 112 | |||||||
Mortgage servicing assets, at fair value | 0 | 0 | |||||||
Other assets | 70,896 | 61,770 | |||||||
Goodwill | 0 | 0 | |||||||
Other intangible assets | 6,114 | 553 | |||||||
Total assets | 6,082,482 | 5,988,954 | |||||||
Deposits: | |||||||||
Non-interest bearing | 0 | 0 | |||||||
Interest bearing | 0 | 0 | |||||||
Total deposits | 0 | 0 | |||||||
Assets sold under agreements to repurchase | 0 | 0 | |||||||
Other short-term borrowings | 0 | 0 | |||||||
Notes payable | 737,163 | 735,600 | |||||||
Other liabilities | 59,799 | 55,309 | |||||||
Total liabilities | 796,962 | 790,909 | |||||||
Stockholders' equity: | |||||||||
Preferred stock | 50,160 | 50,160 | |||||||
Common stock | 1,042 | 1,040 | |||||||
Surplus | 4,256,526 | 4,246,495 | |||||||
Retained Earnings (Accumulated Deficit) | 1,359,257 | 1,228,834 | |||||||
Treasury stock | (90,133) | (8,198) | |||||||
Accumulated other comprehensive (loss) income, net of tax | (291,332) | (320,286) | |||||||
Total stockholders' equity | 5,285,520 | 5,198,045 | |||||||
Total liabilities and stockholders' equity | 6,082,482 | 5,988,954 | |||||||
Popular, Inc. Holding Co. | Non Covered Under Loss Sharing Agreements with FDIC | |||||||||
Loans held-in-portfolio: | |||||||||
Other real estate owned | 0 | 81 | |||||||
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 | 462 | 591 | |||||||
Money market investments | 2,771 | 13,263 | |||||||
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 | 1,825,240 | 1,818,127 | |||||||
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 | 31 | 138 | |||||||
Mortgage servicing assets, at fair value | 0 | 0 | |||||||
Other assets | 28,490 | 25,146 | |||||||
Goodwill | 0 | 0 | |||||||
Other intangible assets | 0 | 0 | |||||||
Total assets | 1,861,486 | 1,861,757 | |||||||
Deposits: | |||||||||
Non-interest bearing | 0 | 0 | |||||||
Interest bearing | 0 | 0 | |||||||
Total deposits | 0 | 0 | |||||||
Assets sold under agreements to repurchase | 0 | 0 | |||||||
Other short-term borrowings | 0 | 0 | |||||||
Notes payable | 148,532 | 148,512 | |||||||
Other liabilities | 2,589 | 6,034 | |||||||
Total liabilities | 151,121 | 154,546 | |||||||
Stockholders' equity: | |||||||||
Preferred stock | 0 | 0 | |||||||
Common stock | 2 | 2 | |||||||
Surplus | 4,100,807 | 4,111,207 | |||||||
Retained Earnings (Accumulated Deficit) | (2,372,062) | (2,382,049) | |||||||
Treasury stock | 0 | 0 | |||||||
Accumulated other comprehensive (loss) income, net of tax | (18,382) | (21,949) | |||||||
Total stockholders' equity | 1,710,365 | 1,707,211 | |||||||
Total liabilities and stockholders' equity | 1,861,486 | 1,861,757 | |||||||
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 | 517,440 | 362,101 | |||||||
Money market investments | 5,487,783 | 2,891,670 | |||||||
Trading account securities, at fair value | 42,459 | 57,297 | |||||||
Investment securities available-for-sale, at fair value | 9,061,001 | 8,209,806 | |||||||
Investment securities held-to-maturity, at amortized cost | 93,438 | 98,101 | |||||||
Other investment securities, at lower of cost or realizable value | 159,623 | 153,476 | |||||||
Investment in subsidiaries | 0 | 0 | |||||||
Loans held-for-sale, at lower of cost or fair value | 68,864 | 88,821 | |||||||
Loans held-in-portfolio: | |||||||||
Loans not covered under loss-sharing agreements with the FDIC | 23,263,215 | 22,894,030 | |||||||
Loans covered under loss-sharing agreements with the FDIC | 524,854 | 572,878 | |||||||
Less - Unearned income | 128,597 | 121,425 | |||||||
Allowance for loan losses | 646,602 | 540,649 | |||||||
Total loans held-in-portfolio, net | 23,012,870 | 22,804,834 | |||||||
FDIC loss-share asset | 48,470 | 69,334 | |||||||
Premises and equipment, net | 529,358 | 540,914 | |||||||
Accrued income receivable | 146,157 | 137,882 | |||||||
Mortgage servicing assets, at fair value | 180,157 | 196,889 | |||||||
Other assets | 2,256,415 | 2,073,562 | |||||||
Goodwill | 627,294 | 627,294 | |||||||
Other intangible assets | 31,902 | 44,497 | |||||||
Total assets | 42,461,504 | 38,568,970 | |||||||
Deposits: | |||||||||
Non-interest bearing | 7,494,477 | 7,028,524 | |||||||
Interest bearing | 27,040,117 | 23,782,844 | |||||||
Total deposits | 34,534,594 | 30,811,368 | |||||||
Assets sold under agreements to repurchase | 374,405 | 479,425 | |||||||
Other short-term borrowings | 240,598 | 1,200 | |||||||
Notes payable | 646,366 | 690,740 | |||||||
Other liabilities | 881,605 | 865,861 | |||||||
Total liabilities | 36,677,568 | 32,848,594 | |||||||
Stockholders' equity: | |||||||||
Preferred stock | 0 | 0 | |||||||
Common stock | 56,307 | 56,307 | |||||||
Surplus | 5,700,621 | 5,717,066 | |||||||
Retained Earnings (Accumulated Deficit) | 316,220 | 264,944 | |||||||
Treasury stock | 0 | 0 | |||||||
Accumulated other comprehensive (loss) income, net of tax | (289,212) | (317,941) | |||||||
Total stockholders' equity | 5,783,936 | 5,720,376 | |||||||
Total liabilities and stockholders' equity | 42,461,504 | 38,568,970 | |||||||
All other subsidiaries and eliminations | Non Covered Under Loss Sharing Agreements with FDIC | |||||||||
Loans held-in-portfolio: | |||||||||
Other real estate owned | 176,728 | 180,364 | |||||||
All other subsidiaries and eliminations | Covered Under Loss Sharing Agreements With FDIC Member | |||||||||
Loans held-in-portfolio: | |||||||||
Other real estate owned | $ 21,545 | $ 32,128 | |||||||
[1] | Includes $6.7 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 $5.7 billion serve as collateral for public funds. | ||||||||
[2] | Includes $4.1 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 $3.4 billion serve as collateral for public funds. | ||||||||
[3] | Includes $92.4 million pledged to secure public and trust deposits that the secured parties are not permitted to sell or repledge the collateral. | ||||||||
[4] | Includes $53.1 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 $296 million pledged to secure credit facilities at the FHLB which are not permitted to sell or repledge the collateral. | ||||||||
[7] | Includes $337 million pledged to secure credit facilities at the FHLB which are not permitted to sell or repledge the collateral. |
Condensed Consolidating Stat204
Condensed Consolidating Statement of Operations (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
INTEREST AND DIVIDEND INCOME: | ||||
Dividend income from subsidiaries | $ 0 | $ 0 | $ 0 | $ 0 |
Loans | 371,979 | 363,550 | 1,102,784 | 1,096,468 |
Money market investments | 15,529 | 4,568 | 33,233 | 11,320 |
Investment securities | 47,276 | 37,732 | 140,699 | 110,728 |
Trading account securities | 1,099 | 1,449 | 3,895 | 5,013 |
Total interest and dividend income | 435,883 | 407,299 | 1,280,611 | 1,223,529 |
INTEREST EXPENSE: | ||||
Deposits | 37,058 | 32,362 | 104,907 | 92,835 |
Short-term borrowings | 1,524 | 2,132 | 3,734 | 6,051 |
Interest Expense Long Term Debt | 19,130 | 19,118 | 57,222 | 57,993 |
Total interest expense | 57,712 | 53,612 | 165,863 | 156,879 |
Net interest income | 378,171 | 353,687 | 1,114,748 | 1,066,650 |
Provision for loan losses | 253,936 | 128,651 | ||
Net interest income after provision for loan losses | 217,412 | 310,343 | 860,812 | 937,999 |
Service charges on deposit accounts | 39,273 | 40,776 | 119,882 | 120,934 |
Other service fees | 53,481 | 59,169 | 168,824 | 169,496 |
Mortgage banking activities | 5,239 | 15,272 | 27,349 | 42,050 |
Net (loss) gain and valuation adjustments on investment securities | 103 | 349 | 284 | 1,932 |
Other-than-temporary impairment on investment securities | 0 | 0 | (8,299) | (209) |
Trading account profit | 253 | (113) | (680) | 842 |
Net gain on sale of loans, including valuation adjustments on loans held-for-sale | (420) | 8,549 | (420) | 8,245 |
Adjustments To Indemnity Reserves On Loans Sold | (6,406) | (4,390) | (11,302) | (14,234) |
FDIC loss share (expense) income | (3,948) | (61,723) | (12,680) | (77,445) |
Other operating income | 12,799 | 18,089 | 50,078 | 46,500 |
Total non-interest income | 100,374 | 75,978 | 333,036 | 298,111 |
Operating expenses: | ||||
Personnel costs | 119,636 | 121,224 | 364,058 | 365,023 |
Net occupancy expenses | 22,254 | 21,626 | 65,295 | 63,770 |
Equipment expenses | 16,457 | 15,922 | 48,677 | 45,731 |
Other taxes | 10,858 | 11,324 | 32,567 | 31,689 |
Professional Fees | 70,772 | 81,266 | 212,956 | 237,350 |
Communications | 5,394 | 5,785 | 17,242 | 18,117 |
Business promotion | 15,216 | 12,726 | 40,158 | 37,541 |
FDIC deposit insurance | 6,271 | 5,854 | 18,936 | 18,586 |
Other real estate owned (O R E O) expenses | 11,724 | 11,295 | 41,212 | 33,416 |
Other operating expenses | 36,161 | 29,752 | 87,106 | 70,432 |
Amortization of intangibles | 2,345 | 3,097 | 7,034 | 9,308 |
Goodwill impairment charge | 0 | 3,801 | 0 | 3,801 |
Total operating expenses | 317,088 | 323,672 | 935,241 | 934,764 |
Income (loss) from continuing operations before income tax | 698 | 62,649 | 258,607 | 301,346 |
Income tax expense | (19,966) | 15,839 | 48,772 | 80,550 |
Income (loss) before equity in undistributed earnings of subdidiaries | 20,664 | 46,810 | 209,835 | 220,796 |
Equity in undistributed earnings (losses) of subsidiaries | 0 | 0 | 0 | 0 |
Income (loss) from continuing operations | 20,664 | 46,810 | 209,835 | 220,796 |
Net Income | 20,664 | 46,810 | 209,835 | 220,796 |
Comprehensive (loss) income, net of tax | 32,275 | 35,127 | 238,789 | 320,387 |
Elimination | ||||
INTEREST AND DIVIDEND INCOME: | ||||
Dividend income from subsidiaries | (27,500) | (24,200) | (184,000) | (78,100) |
Loans | 0 | 0 | 0 | 0 |
Money market investments | (743) | (425) | (1,872) | (1,054) |
Investment securities | 0 | 0 | 0 | 0 |
Trading account securities | 0 | 0 | 0 | 0 |
Total interest and dividend income | (28,243) | (24,625) | (185,872) | (79,154) |
INTEREST EXPENSE: | ||||
Deposits | (743) | (425) | (1,872) | (1,054) |
Short-term borrowings | 0 | 0 | 0 | 0 |
Interest Expense Long Term Debt | 0 | 0 | 0 | 0 |
Total interest expense | (743) | (425) | (1,872) | (1,054) |
Net interest income | (27,500) | (24,200) | (184,000) | (78,100) |
Provision for loan losses | 0 | 0 | ||
Net interest income after provision for loan losses | (27,500) | (24,200) | (178,045) | (78,100) |
Service charges on deposit accounts | 0 | 0 | 0 | 0 |
Other service fees | (70) | (64) | (1,458) | (1,400) |
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 | 0 | |
Trading account profit | 18 | (27) | 26 | (27) |
Net gain on sale of loans, including valuation adjustments on loans held-for-sale | 0 | 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) | (20) | (18) | (38) |
Total non-interest income | (56) | (111) | (1,450) | (1,465) |
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 | (70) | (65) | (360) | (349) |
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 | (555) | (533) | (1,664) | (1,622) |
Amortization of intangibles | 0 | 0 | 0 | 0 |
Goodwill impairment charge | 0 | 0 | ||
Total operating expenses | (625) | (598) | (2,024) | (1,971) |
Income (loss) from continuing operations before income tax | (26,931) | (23,713) | (177,471) | (77,594) |
Income tax expense | 215 | 201 | 2,536 | 208 |
Income (loss) before equity in undistributed earnings of subdidiaries | (27,146) | (23,914) | (180,007) | (77,802) |
Equity in undistributed earnings (losses) of subsidiaries | 5,379 | (36,445) | (65,257) | (195,285) |
Net Income | (21,767) | (60,359) | (245,264) | (273,087) |
Comprehensive (loss) income, net of tax | (34,784) | (44,855) | (277,560) | (397,753) |
Non Covered Under Loss Sharing Agreements with FDIC | ||||
INTEREST EXPENSE: | ||||
Provision for loan losses | 157,659 | 42,594 | 249,681 | 130,202 |
Non Covered Under Loss Sharing Agreements with FDIC | Elimination | ||||
INTEREST EXPENSE: | ||||
Provision for loan losses | 0 | 0 | (5,955) | 0 |
Covered Under Loss Sharing Agreements With FDIC Member | ||||
INTEREST EXPENSE: | ||||
Provision for loan losses | 3,100 | 750 | 4,255 | (1,551) |
Covered Under Loss Sharing Agreements With FDIC Member | Elimination | ||||
INTEREST EXPENSE: | ||||
Provision for loan losses | 0 | 0 | 0 | 0 |
Popular, Inc. Holding Co. | ||||
INTEREST AND DIVIDEND INCOME: | ||||
Dividend income from subsidiaries | 27,500 | 24,200 | 184,000 | 78,100 |
Loans | 405 | 21 | 534 | 60 |
Money market investments | 730 | 398 | 1,820 | 976 |
Investment securities | 142 | 141 | 425 | 522 |
Trading account securities | 0 | 0 | 0 | 0 |
Total interest and dividend income | 28,777 | 24,760 | 186,779 | 79,658 |
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 | 15,659 | 11,642 | 147,426 | 40,305 |
Provision for loan losses | 309 | (36) | ||
Net interest income after provision for loan losses | 15,619 | 11,675 | 147,117 | 40,341 |
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 | 184 | 0 | 1,767 |
Other-than-temporary impairment on investment securities | 0 | 0 | 0 | |
Trading account profit | 137 | 77 | 297 | 136 |
Net gain on sale of loans, including valuation adjustments on loans held-for-sale | 0 | 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 | 1,564 | 4,002 | 10,739 | 9,070 |
Total non-interest income | 1,701 | 4,263 | 11,036 | 10,973 |
Operating expenses: | ||||
Personnel costs | 11,438 | 11,137 | 37,226 | 37,192 |
Net occupancy expenses | 976 | 939 | 2,925 | 2,700 |
Equipment expenses | 885 | 776 | 1,952 | 1,864 |
Other taxes | 55 | 46 | 147 | 140 |
Professional Fees | 2,555 | 2,642 | 8,743 | 7,854 |
Communications | 125 | 140 | 407 | 417 |
Business promotion | 454 | 516 | 1,413 | 1,467 |
FDIC deposit insurance | 0 | 0 | 0 | 0 |
Other real estate owned (O R E O) expenses | 42 | (16) | 42 | 52 |
Other operating expenses | (17,572) | (19,795) | (53,227) | (56,173) |
Amortization of intangibles | 0 | 0 | 0 | 0 |
Goodwill impairment charge | 0 | 0 | ||
Total operating expenses | (1,042) | (3,615) | (372) | (4,487) |
Income (loss) from continuing operations before income tax | 18,362 | 19,553 | 158,525 | 55,801 |
Income tax expense | 0 | (2) | 0 | 1 |
Income (loss) before equity in undistributed earnings of subdidiaries | 18,362 | 19,555 | 158,525 | 55,800 |
Equity in undistributed earnings (losses) of subsidiaries | 2,302 | 27,255 | 51,310 | 164,996 |
Net Income | 20,664 | 46,810 | 209,835 | 220,796 |
Comprehensive (loss) income, net of tax | 32,275 | 35,127 | 238,789 | 320,387 |
Popular, Inc. Holding Co. | Non Covered Under Loss Sharing Agreements with FDIC | ||||
INTEREST EXPENSE: | ||||
Provision for loan losses | 40 | (33) | 309 | (36) |
Popular, Inc. Holding Co. | Covered Under Loss Sharing Agreements With FDIC Member | ||||
INTEREST EXPENSE: | ||||
Provision for loan losses | 0 | 0 | 0 | 0 |
PNA Holding Co. | ||||
INTEREST AND DIVIDEND INCOME: | ||||
Dividend income from subsidiaries | 0 | 0 | 0 | 0 |
Loans | 0 | 0 | 0 | 0 |
Money market investments | 13 | 27 | 52 | 78 |
Investment securities | 81 | 81 | 242 | 242 |
Trading account securities | 0 | 0 | 0 | 0 |
Total interest and dividend income | 94 | 108 | 294 | 320 |
INTEREST EXPENSE: | ||||
Deposits | 0 | 0 | 0 | 0 |
Short-term borrowings | 0 | 0 | 0 | 0 |
Interest Expense Long Term Debt | 2,693 | 2,692 | 8,076 | 8,077 |
Total interest expense | 2,693 | 2,692 | 8,076 | 8,077 |
Net interest income | (2,599) | (2,584) | (7,782) | (7,757) |
Provision for loan losses | 0 | 0 | ||
Net interest income after provision for loan losses | (2,599) | (2,584) | (7,782) | (7,757) |
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 | 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 | 0 |
Adjustments To Indemnity Reserves On Loans Sold | 0 | 0 | 0 | 0 |
FDIC loss share (expense) income | 0 | 0 | 0 | 0 |
Other operating income | 31 | 152 | 1,256 | (2,787) |
Total non-interest income | 31 | 152 | 1,256 | (2,787) |
Operating expenses: | ||||
Personnel costs | 0 | 0 | 0 | 0 |
Net occupancy expenses | 0 | 0 | 0 | 0 |
Equipment expenses | 1 | 1 | 1 | 1 |
Other taxes | 0 | 0 | 0 | 0 |
Professional Fees | 18 | 31 | (474) | 91 |
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 | 13 | 3 | 39 | 46 |
Amortization of intangibles | 0 | 0 | 0 | 0 |
Goodwill impairment charge | 0 | 0 | ||
Total operating expenses | 32 | 35 | (434) | 138 |
Income (loss) from continuing operations before income tax | (2,600) | (2,467) | (6,092) | (10,682) |
Income tax expense | (910) | (864) | (2,132) | (3,739) |
Income (loss) before equity in undistributed earnings of subdidiaries | (1,690) | (1,603) | (3,960) | (6,943) |
Equity in undistributed earnings (losses) of subsidiaries | (7,681) | 9,190 | 13,947 | 30,289 |
Net Income | (9,371) | 7,587 | 9,987 | 23,346 |
Comprehensive (loss) income, net of tax | (7,732) | 3,426 | 13,554 | 47,064 |
PNA Holding Co. | Non Covered Under Loss Sharing Agreements with FDIC | ||||
INTEREST EXPENSE: | ||||
Provision for loan losses | 0 | 0 | 0 | 0 |
PNA Holding Co. | Covered Under Loss Sharing Agreements With FDIC Member | ||||
INTEREST EXPENSE: | ||||
Provision for loan losses | 0 | 0 | 0 | 0 |
All other subsidiaries and eliminations | ||||
INTEREST AND DIVIDEND INCOME: | ||||
Dividend income from subsidiaries | 0 | 0 | 0 | 0 |
Loans | 371,574 | 363,529 | 1,102,250 | 1,096,408 |
Money market investments | 15,529 | 4,568 | 33,233 | 11,320 |
Investment securities | 47,053 | 37,510 | 140,032 | 109,964 |
Trading account securities | 1,099 | 1,449 | 3,895 | 5,013 |
Total interest and dividend income | 435,255 | 407,056 | 1,279,410 | 1,222,705 |
INTEREST EXPENSE: | ||||
Deposits | 37,801 | 32,787 | 106,779 | 93,889 |
Short-term borrowings | 1,524 | 2,132 | 3,734 | 6,051 |
Interest Expense Long Term Debt | 3,319 | 3,308 | 9,793 | 10,563 |
Total interest expense | 42,644 | 38,227 | 120,306 | 110,503 |
Net interest income | 392,611 | 368,829 | 1,159,104 | 1,112,202 |
Provision for loan losses | 253,627 | 128,687 | ||
Net interest income after provision for loan losses | 231,892 | 325,452 | 899,522 | 983,515 |
Service charges on deposit accounts | 39,273 | 40,776 | 119,882 | 120,934 |
Other service fees | 53,551 | 59,233 | 170,282 | 170,896 |
Mortgage banking activities | 5,239 | 15,272 | 27,349 | 42,050 |
Net (loss) gain and valuation adjustments on investment securities | 103 | 165 | 284 | 165 |
Other-than-temporary impairment on investment securities | 0 | (8,299) | (209) | |
Trading account profit | 98 | (163) | (1,003) | 733 |
Net gain on sale of loans, including valuation adjustments on loans held-for-sale | (420) | 8,549 | (420) | 8,245 |
Adjustments To Indemnity Reserves On Loans Sold | (6,406) | (4,390) | (11,302) | (14,234) |
FDIC loss share (expense) income | (3,948) | (61,723) | (12,680) | (77,445) |
Other operating income | 11,208 | 13,955 | 38,101 | 40,255 |
Total non-interest income | 98,698 | 71,674 | 322,194 | 291,390 |
Operating expenses: | ||||
Personnel costs | 108,198 | 110,087 | 326,832 | 327,831 |
Net occupancy expenses | 21,278 | 20,687 | 62,370 | 61,070 |
Equipment expenses | 15,571 | 15,145 | 46,724 | 43,866 |
Other taxes | 10,803 | 11,278 | 32,420 | 31,549 |
Professional Fees | 68,269 | 78,658 | 205,047 | 229,754 |
Communications | 5,269 | 5,645 | 16,835 | 17,700 |
Business promotion | 14,762 | 12,210 | 38,745 | 36,074 |
FDIC deposit insurance | 6,271 | 5,854 | 18,936 | 18,586 |
Other real estate owned (O R E O) expenses | 11,682 | 11,311 | 41,170 | 33,364 |
Other operating expenses | 54,275 | 50,077 | 141,958 | 128,181 |
Amortization of intangibles | 2,345 | 3,097 | 7,034 | 9,308 |
Goodwill impairment charge | 3,801 | 3,801 | ||
Total operating expenses | 318,723 | 327,850 | 938,071 | 941,084 |
Income (loss) from continuing operations before income tax | 11,867 | 69,276 | 283,645 | 333,821 |
Income tax expense | (19,271) | 16,504 | 48,368 | 84,080 |
Income (loss) before equity in undistributed earnings of subdidiaries | 31,138 | 52,772 | 235,277 | 249,741 |
Equity in undistributed earnings (losses) of subsidiaries | 0 | 0 | 0 | 0 |
Net Income | 31,138 | 52,772 | 235,277 | 249,741 |
Comprehensive (loss) income, net of tax | 42,516 | 41,429 | 264,006 | 350,689 |
All other subsidiaries and eliminations | Non Covered Under Loss Sharing Agreements with FDIC | ||||
INTEREST EXPENSE: | ||||
Provision for loan losses | 157,619 | 42,627 | 255,327 | 130,238 |
All other subsidiaries and eliminations | Covered Under Loss Sharing Agreements With FDIC Member | ||||
INTEREST EXPENSE: | ||||
Provision for loan losses | $ 3,100 | $ 750 | $ 4,255 | $ (1,551) |
Condensed Consolidating Stat205
Condensed Consolidating Statement of Cash Flow (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Cash flows from operating activities: | |||||
Net Income | $ 20,664 | $ 46,810 | $ 209,835 | $ 220,796 | |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||||
Equity in losses (earnings) of subsidiaries, net of dividends or distributions | 0 | 0 | |||
Provision (reversal) for loan losses | 253,936 | 128,651 | |||
Goodwill impairment charge | 0 | 3,801 | 0 | 3,801 | |
Amortization of intangibles | 7,034 | 9,308 | |||
Depreciation and amortization of premises and equipment | 35,966 | 34,725 | |||
Net accretion of discounts and amortization of premiums and deferred fees | (17,371) | (36,753) | |||
Impairment losses on long-lived assets | 11,286 | 0 | |||
Other-than-temporary impairment on investment securities | 0 | 0 | 8,299 | 209 | |
Fair value adjustments on mortgage servicing rights | 24,262 | 18,879 | |||
FDIC loss share (income) expense | 12,680 | 77,445 | |||
Adjustments (expense) to indemnity reserves on loans sold | 6,406 | 4,390 | 11,302 | 14,234 | |
Earnings from investments under the equity method | (27,350) | (23,812) | |||
Deferred income tax (benefit) expense | 30,471 | 61,918 | |||
(Gain) loss on: | |||||
Disposition of premises and equipment and other productive assets | 5,018 | 3,603 | |||
Sale and valuation adjustments of investment securities | (284) | (1,932) | |||
Sale of loans, including valuation adjustments on loans held-for-sale and mortgage banking activities | (16,455) | (32,982) | |||
Sale of foreclosed assets, including write-downs | 19,228 | 13,160 | |||
Acquisitions of loans held-for-sale | (204,813) | (223,189) | |||
Proceeds from sale of loans held-for-sale | 68,326 | 58,003 | |||
Net originations on loans held-for-sale | (283,709) | (365,353) | |||
Net (increase) decrease in: | |||||
Trading securities | 498,840 | 578,133 | |||
Accrued income receivable | (8,297) | 4,543 | |||
Other assets | 13,454 | (28,201) | |||
Net increase (decrease) in: | |||||
Interest payable | (9,299) | (11,553) | |||
Pension and other postretirement benefits obligation | (13,760) | (56,537) | |||
Other liabilities | 15,178 | (5,292) | |||
Total adjustments | 433,942 | 221,008 | |||
Net Cash Provided By Used In Operating Activities | 643,777 | 441,804 | |||
Cash flows from investing activities: | |||||
Net (increase) decrease in money market investments | (2,597,994) | (1,783,402) | |||
Purchases of investment securities: | |||||
Available-for-sale | (2,356,389) | (2,408,514) | |||
Other | (23,822) | (14,017) | |||
Proceeds from calls, paydowns, maturities and redemptions of investment securities: | |||||
Available-for-sale | 1,225,915 | 951,447 | |||
Held-to-maturity | 6,229 | 4,182 | |||
Other | 0 | 11,051 | |||
Proceeds from the sale of investment securities available-for-sale | 14,888 | 1,556 | |||
Proceeds from sale of other investment securities | 17,675 | 8,006 | |||
Net repayments on loans | (77,400) | (93,354) | |||
Proceeds from sale of loans | 415 | 134,114 | |||
Acquisition of loan portfolios | (448,121) | (355,507) | |||
Acquisition of trademark | 0 | ||||
Net payments from FDIC under loss sharing agreements | (11,520) | 95,407 | |||
Return of capital from equity method investments | 8,556 | 324 | |||
Capital Contribution Subsidiaries | 0 | ||||
Return Of Capital From Wholly Owned Subsidiaries | 0 | 0 | |||
Acquisition of premises and equipment | (40,158) | (78,297) | |||
Proceeds from sale of: | |||||
Premises and equipment and other productive assets | 6,982 | 5,519 | |||
Foreclosed assets | 85,705 | 54,600 | |||
Net cash (used in) provided by investing activities | (4,189,039) | (3,466,885) | |||
Net increase (decrease) in: | |||||
Deposits | 3,751,367 | 3,119,674 | |||
Federal funds purchased and assets sold under agreements to repurchase | (105,020) | 3,106 | |||
Other short-term borrowings | 239,398 | 0 | |||
Payments of notes payable | (89,375) | (230,608) | |||
Proceeds from issuance of notes payable | 45,000 | 165,047 | |||
Proceeds from issuance of common stock | 5,515 | 5,718 | |||
Cash Dividends Paid To Parent Company | 0 | 0 | |||
Dividends paid | (69,162) | (49,438) | |||
Net payments for repurchase of common stock | (75,662) | (1,547) | |||
Return Of Capital To Parent Company | 0 | ||||
Capital contribution from parent | 0 | ||||
Payments related to tax witholding for shared-based compensation | (1,756) | 0 | |||
Net cash (used in) provided by financing activities | 3,700,305 | 3,011,952 | |||
Net (decrease) increase in cash and due from banks | 155,043 | (13,129) | |||
Cash and due from banks at beginning of period | 362,394 | 363,674 | $ 363,674 | ||
Cash and due from banks at end of period | 517,437 | 350,545 | 517,437 | 350,545 | 362,394 |
Elimination | |||||
Cash flows from operating activities: | |||||
Net Income | (21,767) | (60,359) | (245,264) | (273,087) | |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||||
Equity in losses (earnings) of subsidiaries, net of dividends or distributions | 65,257 | (195,285) | |||
Provision (reversal) for loan losses | 0 | 0 | |||
Goodwill impairment charge | 0 | 0 | |||
Amortization of intangibles | 0 | 0 | |||
Depreciation and amortization of premises and equipment | 0 | 0 | |||
Net accretion of discounts and amortization of premiums and deferred fees | 0 | 0 | |||
Impairment losses on long-lived assets | 0 | ||||
Other-than-temporary impairment on investment securities | 0 | 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 | 0 | 0 | |
Earnings from investments under the equity method | 0 | 0 | |||
Deferred income tax (benefit) expense | 214 | 208 | |||
(Gain) loss on: | |||||
Disposition of premises and equipment | 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 | (25) | 121 | |||
Accrued income receivable | (15) | 10 | |||
Other assets | 15,193 | (4,309) | |||
Net increase (decrease) in: | |||||
Interest payable | 15 | (10) | |||
Pension and other postretirement benefits obligation | 0 | 0 | |||
Other liabilities | (8,919) | 3,776 | |||
Total adjustments | 71,720 | 195,081 | |||
Net Cash Provided By Used In Operating Activities | (173,544) | (78,006) | |||
Cash flows from investing activities: | |||||
Net (increase) decrease in money market investments | (26,025) | 12,965 | |||
Purchases of investment securities: | |||||
Available-for-sale | 0 | 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 | ||||
Proceeds from the sale of investment securities available-for-sale | 0 | ||||
Proceeds from sale of other investment securities | 0 | 0 | |||
Net repayments on loans | 0 | 0 | |||
Proceeds from sale of loans | (37,864) | 0 | |||
Acquisition of loan portfolios | 37,864 | 0 | |||
Acquisition of trademark | 0 | ||||
Net payments from FDIC under loss sharing agreements | 0 | 0 | |||
Return of capital from equity method investments | 0 | 0 | |||
Capital Contribution Subsidiaries | 0 | ||||
Return Of Capital From Wholly Owned Subsidiaries | (32,840) | (14,000) | |||
Acquisition of premises and equipment | 0 | 0 | |||
Proceeds from sale of: | |||||
Premises and equipment | 0 | 0 | |||
Foreclosed assets | 0 | 0 | |||
Net cash (used in) provided by investing activities | (58,865) | (1,035) | |||
Net increase (decrease) in: | |||||
Deposits | 29,485 | 3,607 | |||
Federal funds purchased and assets sold under agreements to repurchase | 0 | 0 | |||
Other short-term borrowings | 0 | ||||
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 | 179,500 | 78,100 | |||
Dividends paid | 0 | 0 | |||
Net payments for repurchase of common stock | 0 | (93) | |||
Return Of Capital To Parent Company | 0 | 14,000 | |||
Capital contribution from parent | (5,955) | ||||
Payments related to tax witholding for shared-based compensation | 32,840 | 0 | |||
Net cash (used in) provided by financing activities | 235,870 | 95,614 | |||
Net (decrease) increase in cash and due from banks | 3,461 | 16,573 | |||
Cash and due from banks at beginning of period | (48,081) | (24,844) | (24,844) | ||
Cash and due from banks at end of period | (44,620) | (8,271) | (44,620) | (8,271) | (48,081) |
Popular, Inc. Holding Co. | |||||
Cash flows from operating activities: | |||||
Net Income | 20,664 | 46,810 | 209,835 | 220,796 | |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||||
Equity in losses (earnings) of subsidiaries, net of dividends or distributions | (51,310) | (164,996) | |||
Provision (reversal) for loan losses | 309 | (36) | |||
Goodwill impairment charge | 0 | 0 | |||
Amortization of intangibles | 0 | 0 | |||
Depreciation and amortization of premises and equipment | 480 | 497 | |||
Net accretion of discounts and amortization of premiums and deferred fees | 1,565 | 1,565 | |||
Impairment losses on long-lived assets | 0 | ||||
Other-than-temporary impairment on investment securities | 0 | 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 | 0 | 0 | |
Earnings from investments under the equity method | (10,728) | (9,070) | |||
Deferred income tax (benefit) expense | 0 | 1 | |||
(Gain) loss on: | |||||
Disposition of premises and equipment and other productive assets | (17) | (1) | |||
Sale and valuation adjustments of investment securities | 0 | (1,767) | |||
Sale of loans, including valuation adjustments on loans held-for-sale and mortgage banking activities | 0 | 0 | |||
Sale of foreclosed assets, including write-downs | 42 | 52 | |||
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 | (961) | (475) | |||
Accrued income receivable | (115) | (6) | |||
Other assets | 1,331 | 2,304 | |||
Net increase (decrease) in: | |||||
Interest payable | (7,875) | (7,875) | |||
Pension and other postretirement benefits obligation | 0 | 0 | |||
Other liabilities | 2,115 | (5,724) | |||
Total adjustments | (65,164) | (185,531) | |||
Net Cash Provided By Used In Operating Activities | 144,671 | 35,265 | |||
Cash flows from investing activities: | |||||
Net (increase) decrease in money market investments | 13,651 | (22,111) | |||
Purchases of investment securities: | |||||
Available-for-sale | 0 | 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 | ||||
Proceeds from the sale of investment securities available-for-sale | 0 | 278 | |||
Proceeds from sale of other investment securities | 0 | 1,583 | |||
Net repayments on loans | 172 | 25 | |||
Proceeds from sale of loans | 0 | 0 | |||
Acquisition of loan portfolios | (31,909) | 0 | |||
Acquisition of trademark | (5,560) | ||||
Net payments from FDIC under loss sharing agreements | 0 | 0 | |||
Return of capital from equity method investments | 500 | 118 | |||
Capital Contribution Subsidiaries | (5,955) | ||||
Return Of Capital From Wholly Owned Subsidiaries | 22,400 | 14,000 | |||
Acquisition of premises and equipment | (594) | (794) | |||
Proceeds from sale of: | |||||
Premises and equipment and other productive assets | 21 | 56 | |||
Foreclosed assets | 39 | 434 | |||
Net cash (used in) provided by investing activities | (7,235) | (6,411) | |||
Net increase (decrease) in: | |||||
Deposits | 0 | 0 | |||
Federal funds purchased and assets sold under agreements to repurchase | 0 | 0 | |||
Other short-term borrowings | 0 | ||||
Payments of notes payable | 0 | 0 | |||
Proceeds from issuance of notes payable | 0 | 0 | |||
Proceeds from issuance of common stock | 5,515 | 5,718 | |||
Cash Dividends Paid To Parent Company | 0 | 0 | |||
Dividends paid | (69,162) | (49,438) | |||
Net payments for repurchase of common stock | (75,661) | (1,453) | |||
Return Of Capital To Parent Company | 0 | 0 | |||
Capital contribution from parent | 0 | ||||
Payments related to tax witholding for shared-based compensation | (1,756) | 0 | |||
Net cash (used in) provided by financing activities | (141,064) | (45,173) | |||
Net (decrease) increase in cash and due from banks | (3,628) | (16,319) | |||
Cash and due from banks at beginning of period | 47,783 | 24,298 | 24,298 | ||
Cash and due from banks at end of period | 44,155 | 7,979 | 44,155 | 7,979 | 47,783 |
PNA Holding Co. | |||||
Cash flows from operating activities: | |||||
Net Income | (9,371) | 7,587 | 9,987 | 23,346 | |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||||
Equity in losses (earnings) of subsidiaries, net of dividends or distributions | (13,947) | (30,289) | |||
Provision (reversal) for loan losses | 0 | 0 | |||
Goodwill impairment charge | 0 | 0 | |||
Amortization of intangibles | 0 | 0 | |||
Depreciation and amortization of premises and equipment | 0 | 0 | |||
Net accretion of discounts and amortization of premiums and deferred fees | 0 | 21 | |||
Impairment losses on long-lived assets | 0 | ||||
Other-than-temporary impairment on investment securities | 0 | 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 | 0 | 0 | |
Earnings from investments under the equity method | (1,256) | 2,787 | |||
Deferred income tax (benefit) expense | (2,132) | (3,739) | |||
(Gain) loss on: | |||||
Disposition of premises and equipment and other productive assets | 0 | 0 | |||
Sale and valuation adjustments of investment securities | 21 | 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 | 107 | 80 | |||
Other assets | 45 | (26) | |||
Net increase (decrease) in: | |||||
Interest payable | (2,685) | (2,685) | |||
Pension and other postretirement benefits obligation | 0 | 0 | |||
Other liabilities | (760) | (543) | |||
Total adjustments | (20,607) | (34,394) | |||
Net Cash Provided By Used In Operating Activities | (10,620) | (11,048) | |||
Cash flows from investing activities: | |||||
Net (increase) decrease in money market investments | 10,491 | 10,835 | |||
Purchases of investment securities: | |||||
Available-for-sale | 0 | 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 | ||||
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 | 0 | |||
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 | |||
Return of capital from equity method investments | 0 | 206 | |||
Capital Contribution Subsidiaries | 0 | ||||
Return Of Capital From Wholly Owned Subsidiaries | 10,400 | 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 | 20,891 | 11,041 | |||
Net increase (decrease) in: | |||||
Deposits | 0 | 0 | |||
Federal funds purchased and assets sold under agreements to repurchase | 0 | 0 | |||
Other short-term borrowings | 0 | ||||
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 | (10,400) | 0 | |||
Capital contribution from parent | 0 | ||||
Payments related to tax witholding for shared-based compensation | 0 | 0 | |||
Net cash (used in) provided by financing activities | (10,400) | 0 | |||
Net (decrease) increase in cash and due from banks | (129) | (7) | |||
Cash and due from banks at beginning of period | 591 | 600 | 600 | ||
Cash and due from banks at end of period | 462 | 593 | 462 | 593 | 591 |
All other subsidiaries and eliminations | |||||
Cash flows from operating activities: | |||||
Net Income | 31,138 | 52,772 | 235,277 | 249,741 | |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||||
Equity in losses (earnings) of subsidiaries, net of dividends or distributions | 0 | 0 | |||
Provision (reversal) for loan losses | 253,627 | 128,687 | |||
Goodwill impairment charge | 3,801 | 3,801 | |||
Amortization of intangibles | 7,034 | 9,308 | |||
Depreciation and amortization of premises and equipment | 35,486 | 34,228 | |||
Net accretion of discounts and amortization of premiums and deferred fees | (18,936) | (38,339) | |||
Impairment losses on long-lived assets | 11,286 | ||||
Other-than-temporary impairment on investment securities | 0 | 8,299 | 209 | ||
Fair value adjustments on mortgage servicing rights | 24,262 | 18,879 | |||
FDIC loss share (income) expense | 12,680 | 77,445 | |||
Adjustments (expense) to indemnity reserves on loans sold | 6,406 | 4,390 | 11,302 | 14,234 | |
Earnings from investments under the equity method | (15,366) | (17,529) | |||
Deferred income tax (benefit) expense | 32,389 | 65,448 | |||
(Gain) loss on: | |||||
Disposition of premises and equipment and other productive assets | 5,035 | 3,604 | |||
Sale and valuation adjustments of investment securities | (305) | (165) | |||
Sale of loans, including valuation adjustments on loans held-for-sale and mortgage banking activities | (16,455) | (32,982) | |||
Sale of foreclosed assets, including write-downs | 19,186 | 13,108 | |||
Acquisitions of loans held-for-sale | (204,813) | (223,189) | |||
Proceeds from sale of loans held-for-sale | 68,326 | 58,003 | |||
Net originations on loans held-for-sale | (283,709) | (365,353) | |||
Net (increase) decrease in: | |||||
Trading securities | 499,826 | 578,487 | |||
Accrued income receivable | (8,274) | 4,459 | |||
Other assets | (3,115) | (26,170) | |||
Net increase (decrease) in: | |||||
Interest payable | 1,246 | (983) | |||
Pension and other postretirement benefits obligation | (13,760) | (56,537) | |||
Other liabilities | 22,742 | (2,801) | |||
Total adjustments | 447,993 | 245,852 | |||
Net Cash Provided By Used In Operating Activities | 683,270 | 495,593 | |||
Cash flows from investing activities: | |||||
Net (increase) decrease in money market investments | (2,596,111) | (1,785,091) | |||
Purchases of investment securities: | |||||
Available-for-sale | (2,356,389) | (2,408,514) | |||
Other | (23,822) | (14,017) | |||
Proceeds from calls, paydowns, maturities and redemptions of investment securities: | |||||
Available-for-sale | 1,225,915 | 951,447 | |||
Held-to-maturity | 6,229 | 4,182 | |||
Other | 11,051 | ||||
Proceeds from the sale of investment securities available-for-sale | 14,888 | 1,278 | |||
Proceeds from sale of other investment securities | 17,675 | 6,423 | |||
Net repayments on loans | (77,572) | (93,379) | |||
Proceeds from sale of loans | 38,279 | 134,114 | |||
Acquisition of loan portfolios | (454,076) | (355,507) | |||
Acquisition of trademark | 5,560 | ||||
Net payments from FDIC under loss sharing agreements | (11,520) | 95,407 | |||
Return of capital from equity method investments | 8,056 | 0 | |||
Capital Contribution Subsidiaries | 5,955 | ||||
Return Of Capital From Wholly Owned Subsidiaries | 40 | 0 | |||
Acquisition of premises and equipment | (39,564) | (77,503) | |||
Proceeds from sale of: | |||||
Premises and equipment and other productive assets | 6,961 | 5,463 | |||
Foreclosed assets | 85,666 | 54,166 | |||
Net cash (used in) provided by investing activities | (4,143,830) | (3,470,480) | |||
Net increase (decrease) in: | |||||
Deposits | 3,721,882 | 3,116,067 | |||
Federal funds purchased and assets sold under agreements to repurchase | (105,020) | 3,106 | |||
Other short-term borrowings | 239,398 | ||||
Payments of notes payable | (89,375) | (230,608) | |||
Proceeds from issuance of notes payable | 45,000 | 165,047 | |||
Proceeds from issuance of common stock | 0 | 0 | |||
Cash Dividends Paid To Parent Company | (179,500) | (78,100) | |||
Dividends paid | 0 | 0 | |||
Net payments for repurchase of common stock | (1) | (1) | |||
Return Of Capital To Parent Company | 10,400 | (14,000) | |||
Capital contribution from parent | 5,955 | ||||
Payments related to tax witholding for shared-based compensation | (32,840) | 0 | |||
Net cash (used in) provided by financing activities | 3,615,899 | 2,961,511 | |||
Net (decrease) increase in cash and due from banks | 155,339 | (13,376) | |||
Cash and due from banks at beginning of period | 362,101 | 363,620 | 363,620 | ||
Cash and due from banks at end of period | $ 517,440 | $ 350,244 | $ 517,440 | $ 350,244 | $ 362,101 |