Document and Entity Information
Document and Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Feb. 28, 2018 | Jun. 30, 2017 | |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | OFG BANCORP | ||
Entity Central Index Key | 1,030,469 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2017 | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 43,968,342 | ||
Entity Well Known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 364.5 |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Cash and cash equivalents | ||
Cash and Due from Banks | $ 478,182 | $ 504,833 |
Money market investments | 7,021 | 5,606 |
Total cash and cash equivalents | 485,203 | 510,439 |
Restricted Cash | 3,030 | 3,030 |
Investments: | ||
Trading Securities, at fair value | 191 | 347 |
Investment securities available-for-sale, at fair value | 645,797 | 751,484 |
Investment securities held-to-maturity, at amortized cost | 506,064 | 599,884 |
Federal Home Loan Bank (FHLB) stock, at cost | 13,995 | 10,793 |
Other investments | 3 | 3 |
Total investments | 1,166,050 | 1,362,511 |
Loans: | ||
Loans held-for-sale, at lower of cost or fair value | 12,272 | 12,499 |
Loans held for investment, net of allowance | 4,044,057 | 4,135,193 |
Total loans, net | 4,056,329 | 4,147,692 |
Other asset | ||
FDIC indemnification asset | 0 | 14,411 |
Foreclosed real estate | 44,174 | 47,520 |
Accrued interest receivable | 49,969 | 20,227 |
Deferred tax asset, net | 127,421 | 124,200 |
Premises and equipment, net | 67,860 | 70,407 |
Customers' liability on acceptances | 27,663 | 23,765 |
Servicing Assets | 9,821 | 9,858 |
Derivative assets | 771 | 1,330 |
Goodwill | 86,069 | 86,069 |
Other assets | 64,693 | 80,365 |
Total assets | 6,189,053 | 6,501,824 |
Deposits: | ||
Demand deposits | 2,039,126 | 1,939,764 |
Savings accounts | 1,251,398 | 1,196,232 |
Tme Deposits | 1,508,958 | 1,528,491 |
Total deposits | 4,799,482 | 4,664,487 |
Borrowings: | ||
Securities Sold under Agreements to Repurchase | 192,869 | 653,756 |
Advances from FHLB | 99,643 | 105,454 |
Subordinated capital notes | 36,083 | 36,083 |
Other borrowings | 153 | 61 |
Total borrowings | 328,748 | 795,354 |
Derivative liabilities | 1,281 | 2,437 |
Acceptances executed and outstanding | 27,644 | 23,765 |
Accrued expenses and other liabilities | 86,791 | 95,370 |
Total liabilities | 5,243,946 | 5,581,413 |
Stockholders' equity: | ||
Preferred Stock | 92,000 | 92,000 |
Convertible Preferred Stock | 84,000 | 84,000 |
Common stock | 52,626 | 52,626 |
Additional paid-in capital | 541,600 | 540,948 |
Legal surplus | 81,454 | 76,293 |
Retained earnings | 200,878 | 177,808 |
Treasury stock, at cost | (104,502) | (104,860) |
Accumulated Other Comprehensive (Loss) Income, Net of Tax | (2,949) | 1,596 |
Total stockholders' equity | 945,107 | 920,411 |
Total liabilities and stockholders' equity | $ 6,189,053 | $ 6,501,824 |
Consolidated Statements of Fin3
Consolidated Statements of Financial Condition (Parenthetical) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Amortized cost of trading securities | $ 647,000 | $ 667,000 |
Amortized cost of investment securities available-for-sale | 648,800,000 | 749,867,000 |
Fair value of held to maturity securities | 497,681,000 | 592,763,000 |
Allowance for loan and lease losses | $ 167,509,000 | $ 115,937,000 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, par value | $ 1 | $ 1 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 52,625,869 | 52,625,869 |
Common stock, shares outstanding | 43,947,442 | 43,914,844 |
Treasury stock, at cost, shares | 8,678,427 | 8,711,025 |
Tax effect on accumulated other comprehensive income (loss) | $ (564,000) | $ (983,000) |
Series A Preferred Stock | ||
Preferred stock, shares issued | 1,340,000 | 1,340,000 |
Preferred stock, liquidation value | $ 25 | $ 25 |
Series B Preferred Stock | ||
Preferred stock, shares issued | 1,380,000 | 1,380,000 |
Preferred stock, liquidation value | $ 25 | $ 25 |
Series C Convertible Preferred Stock | ||
Preferred stock, shares issued | 84,000 | 84,000 |
Preferred stock, liquidation value | $ 1,000 | $ 1,000 |
Series D Preferred Stock Member | ||
Preferred stock, shares issued | 960,000 | 960,000 |
Preferred stock, liquidation value | $ 25 | $ 25 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Interest income: | |||
Loans | $ 312,421 | $ 321,945 | $ 367,622 |
Mortgage-backed securities | 26,994 | 30,522 | 35,338 |
Investment securities | 6,232 | 4,125 | 3,608 |
Total interest income | 345,647 | 356,592 | 406,568 |
Interest expense: | |||
Deposits | 30,298 | 29,253 | 27,034 |
Securities sold under agreements to repurchase | 7,223 | 18,805 | 29,567 |
Advances from FHLB and other borrowings | 2,398 | 6,186 | 9,072 |
Subordinated capital notes | 1,556 | 2,921 | 3,523 |
Total interest expense | 41,475 | 57,165 | 69,196 |
Net interest income | 304,172 | 299,427 | 337,372 |
Provision for Loan, Lease, and Other Losses | 113,139 | 65,076 | 161,501 |
Net interest income after provision for loan and lease losses | 191,033 | 234,351 | 175,871 |
Non-interest income: | |||
Banking service revenues | 39,468 | 41,647 | 41,466 |
Wealth management revenue | 25,790 | 27,433 | 29,040 |
Mortgage banking activities | 4,050 | 5,021 | 6,128 |
Total Banking and Financial Service Revenues | 69,308 | 74,101 | 76,634 |
Net impairment losses recognized in earnings | 0 | 0 | 1,490 |
FDIC shared-loss benefit (expense), net [Abstract] | |||
FDIC shared-loss benefit (expense), net | 1,403 | (13,581) | (42,808) |
Reimbursement from FDIC shared-loss coverage in sale of loans | 0 | 0 | 20,000 |
Net gain (loss) on: | |||
Sale of securities | 6,896 | 12,207 | 2,572 |
Derivatives | 132 | (71) | (190) |
Early extinguishment of debt | (80) | (12,000) | 0 |
Other non-interest income | 1,028 | 6,163 | (2,142) |
Total non-interest income, net | 78,687 | 66,819 | 52,576 |
Non-interest expense: | |||
Compensation and employee benefits | 79,751 | 76,761 | 78,999 |
Professional and service fees | 12,406 | 12,235 | 14,973 |
Occupancy and equipment | 32,557 | 30,300 | 33,466 |
Insurance | 5,223 | 9,109 | 9,567 |
Electronic banking charges | 19,322 | 20,707 | 21,893 |
Information technology related expenses | 8,010 | 7,116 | 5,648 |
Advertising, business promotion, and strategic initiatives | 5,616 | 5,485 | 6,452 |
Loss on sale of foreclosed real estate and other reossessed assets | 4,634 | 10,282 | 30,546 |
Loan servicing and clearing expenses | 4,693 | 8,247 | 9,198 |
Taxes, other than payroll and income taxes | 9,187 | 9,782 | 9,460 |
Communication | 3,415 | 3,379 | 3,808 |
Printing, postage, stationary and supplies | 2,437 | 2,558 | 2,575 |
Director and investors relations | 1,072 | 1,087 | 1,091 |
Credit related expenses | 7,992 | 10,267 | 11,091 |
Other | 5,316 | 8,675 | 9,738 |
Total non-interest expense | 201,631 | 215,990 | 248,505 |
Income before income taxes | 68,089 | 85,180 | (20,058) |
Income tax expense (benefit) | 15,443 | 25,994 | (17,554) |
Net income | 52,646 | 59,186 | (2,504) |
Dividends on preferred stock | (13,862) | (13,862) | (13,862) |
Income (loss) available to common shareholders | $ 38,784 | $ 45,324 | $ (16,366) |
Earnings per common share: | |||
Basic | $ 0.88 | $ 1.03 | $ (0.37) |
Diluted | $ 0.88 | $ 1.03 | $ (0.37) |
Average common shares outstanding and equivalents | 51,096 | 51,088 | 51,455 |
Cash dividends per share of common stock | $ 0.24 | $ 0.24 | $ 0.36 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Consolidated Statements of Comprehensive Income (Loss) [Abstract] | |||
Net income (loss) | $ 52,646 | $ 59,186 | $ (2,504) |
Other comprehensive income (loss) before tax: | |||
Unrealized gain (loss) on securities available-for-sale | 2,276 | (5,023) | (8,814) |
Realized gain on investment securities included in net income | (6,896) | (12,207) | (2,572) |
Other Than Temporary Impairment on securities included in net income | 0 | 0 | 1,490 |
Unrealized (loss) gain on cash flow hedges | 494 | 3,303 | 4,278 |
Other comprehensive (loss) income before taxes | (4,126) | (13,927) | (5,618) |
Income tax effect | (419) | 1,526 | (96) |
Other Comprehensive Income (Loss) After taxes | (4,545) | (12,401) | (5,714) |
Comprehensive income (loss) | $ 48,101 | $ 46,785 | $ (8,218) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | Total | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Legal Surplus [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Beginning Balance at Dec. 31, 2014 | $ 176,000 | $ 52,626 | $ 539,311 | $ 70,467 | $ 181,152 | $ (97,070) | $ 19,711 | |
Stock-based compensation expense | $ 1,637 | 1,637 | ||||||
Stock-based compensation excess tax benefit recognized in income | 0 | 0 | ||||||
Lapsed restricted stock units | (436) | (436) | 641 | |||||
Transfer from retained earnings/transfer to legal surplus | (32) | 32 | ||||||
Net income | (2,504) | (2,504) | ||||||
Cash dividends declared on common stock | (15,932) | (15,932) | ||||||
Cash dividends declared on preferred stock | (13,862) | (13,862) | ||||||
Stock purchased | 8,950 | (8,950) | ||||||
Other comprehensive (loss) income, net of tax | (5,714) | (5,714) | ||||||
Ending Balance at Dec. 31, 2015 | 897,077 | 176,000 | 52,626 | 540,512 | 70,435 | 148,886 | (105,379) | 13,997 |
Stock-based compensation expense | 1,270 | 1,270 | ||||||
Stock-based compensation excess tax benefit recognized in income | 0 | 0 | ||||||
Lapsed restricted stock units | (834) | (834) | 519 | |||||
Transfer from retained earnings/transfer to legal surplus | 5,858 | (5,858) | ||||||
Net income | 59,186 | 59,186 | ||||||
Cash dividends declared on common stock | (10,544) | (10,544) | ||||||
Cash dividends declared on preferred stock | (13,862) | (13,862) | ||||||
Stock purchased | 0 | 0 | ||||||
Other comprehensive (loss) income, net of tax | (12,401) | (12,401) | ||||||
Ending Balance at Dec. 31, 2016 | 920,411 | 176,000 | 52,626 | 540,948 | 76,293 | 177,808 | (104,860) | 1,596 |
Stock-based compensation expense | 1,109 | 1,109 | ||||||
Stock-based compensation excess tax benefit recognized in income | (99) | (99) | ||||||
Lapsed restricted stock units | (358) | 358 | ||||||
Transfer from retained earnings/transfer to legal surplus | 5,161 | (5,161) | ||||||
Net income | 52,646 | 52,646 | ||||||
Cash dividends declared on common stock | (10,553) | (10,553) | ||||||
Cash dividends declared on preferred stock | (13,862) | (13,862) | ||||||
Stock purchased | 0 | 0 | ||||||
Other comprehensive (loss) income, net of tax | (4,545) | (4,545) | ||||||
Ending Balance at Dec. 31, 2017 | $ 945,107 | $ 176,000 | $ 52,626 | $ 541,600 | $ 81,454 | $ 200,878 | $ (104,502) | $ (2,949) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Cash flows from operating activities: | |||
Net income | $ 52,646,000 | $ 59,186,000 | $ (2,504,000) |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||
Amortization of deferred loan origination fees, net of costs | 3,529,000 | 3,509,000 | 3,396,000 |
Amortization of fair value premiums, net of discounts, on acquired loans | 8,000 | 39,000 | 3,106,000 |
Amortization of investment securities premiums, net of accretion of discounts | 7,865,000 | 8,540,000 | 12,109,000 |
Amortization of core deposit and customer relationship intangibles | 1,473,000 | 1,677,000 | 1,906,000 |
Amortization of fair value premium of acquired deposits | 0 | 340,000 | 660,000 |
FDIC Loss Share (Benefit) Expense | (1,403,000) | 13,581,000 | 42,808,000 |
Other Than Temporary Impairment on securities included in net income | 0 | 0 | 1,490,000 |
Depreciation and amortization of premises and equipment | 8,986,000 | 9,420,000 | 11,100,000 |
Deferred income taxes, net | (3,658,000) | 23,226,000 | (37,329,000) |
Provision for loan and lease losses, net | 113,139,000 | 65,076,000 | 161,501,000 |
Stock-based compensation | 1,109,000 | 1,270,000 | 1,637,000 |
Stock-based compensation excess tax benefit recognized in income | (99,000) | 0 | 0 |
(Gain) loss on: | |||
Sale of securities | (6,896,000) | (12,207,000) | (2,572,000) |
Sale of mortgage loans held for sale | (955,000) | (1,570,000) | (3,135,000) |
Derivatives | (103,000) | 181,000 | (81,000) |
Early extinguishment of debt | 80,000 | 12,000,000 | 0 |
Foreclosed real estate | 4,964,000 | 11,934,000 | 33,998,000 |
Sale of other repossessed asset | 57,000 | (1,623,000) | 4,828,000 |
Sale of premises and equipment | (539,000) | 12,000 | 192,000 |
Originations of loans held-for-sale | (116,020,000) | (179,430,000) | (211,352,000) |
Proceeds from sale of loans held-for-sale | 75,637,000 | 69,862,000 | 102,383,000 |
Net (increase) decrease in: | |||
Trading securities | 156,000 | (59,000) | 1,306,000 |
Accrued interest receivable | (29,742,000) | 410,000 | 708,000 |
Servicing Assets | (37,000) | 2,403,000 | (610,000) |
Other assets | 13,675,000 | (7,941,000) | (14,849,000) |
Net increase (decrease) in: | |||
Accrued interest on deposits and borrowings | (937,000) | (862,000) | (250,000) |
Net increase (decrease) in accrued expenses and other liabilities | 28,431,000 | 4,344,000 | (14,584,000) |
Net cash provided by operating activities | 151,440,000 | 78,512,000 | 97,082,000 |
Purchases of: | |||
Investment securities available-for-sale | (182,054,000) | (119,544,000) | (1,939,000) |
Investment securities held-to-maturity | 0 | (86,478,000) | (499,317,000) |
FHLB stock | (31,950,000) | (20,421,000) | 0 |
Maturities and Redemptions of [Abstract] | |||
Maturities and redemptions of investment securities available-for-sale | 105,169,000 | 145,512,000 | 238,003,000 |
Investments securities held-to-maturity | 88,726,000 | 101,965,000 | 39,310,000 |
FHLB Stock | 28,748,000 | 30,411,000 | 386,000 |
Proceeds from sale of: | |||
Investment securities available for sale | 256,996,000 | 300,483,000 | 103,831,000 |
Foreclosed real estate and other repossessed assets, including write-offs | 40,051,000 | 47,507,000 | 117,050,000 |
Proceeds From Sale And Collection of Loans Held for Sale | 0 | 123,137,000 | 0 |
Gain (Loss) on Sale of Property Plant Equipment | (569,000) | (48,000) | 0 |
Proceeds From Sale Of Mortgage Servicing Rights MSR | 0 | 0 | 5,927,000 |
Origination and purchase of loans, excluding loans held-for-sale | (801,766,000) | (768,353,000) | (802,572,000) |
Principal repayment of loans, including covered loans | 699,409,000 | 817,199,000 | 861,891,000 |
(Repayment to) reimbursement to the FDIC for the termination of shared-loss agreements | (10,125,000) | 1,573,000 | 90,697,000 |
Additions to premises and equipment | (6,469,000) | (5,297,000) | (5,283,000) |
Net change in restricted cash | 0 | (319,000) | (5,058,000) |
Net cash provided by investing activities | 187,304,000 | 568,061,000 | 153,042,000 |
Net increase (decrease) in: | |||
Deposits | 125,991,000 | (61,078,000) | (198,052,000) |
Securities sold under agreements to repurchase | (459,815,000) | (292,264,000) | (45,315,000) |
FHLB advances, federal funds purchased, and other borrowings | (5,741,000) | (228,633,000) | (4,155,000) |
Subordinated capital notes | 0 | (66,550,000) | 1,049,000 |
Exercise of stock options and restricted unit lapsed, net | 0 | (315,000) | 204,000 |
Purchase of treasury stock | 0 | 0 | (8,950,000) |
Dividends paid on preferred stock | (13,862,000) | (13,862,000) | (13,862,000) |
Dividends paid on common stock | (10,553,000) | (10,141,000) | (17,761,000) |
Net cash used in financing activities | (363,980,000) | (672,843,000) | (286,842,000) |
Net change in cash and cash equivalents | (25,236,000) | (26,270,000) | (36,718,000) |
Cash and cash equivalents at beginning of period | 510,439,000 | 536,709,000 | 573,427,000 |
Cash and cash equivalents at end of period | 485,203,000 | 510,439,000 | 536,709,000 |
Supplemental Cash Flow Disclosure and Schedule of Non-cash Activities: | |||
Interest paid net | 40,570,000 | 56,302,000 | 67,766,000 |
Income Taxes Paid | 30,000 | 10,051,000 | 13,966,000 |
Mortgage loans securitized into mortgage-backed securities | 74,919,000 | 112,071,000 | 116,319,000 |
Transfer from loans to foreclosed real estate and other repossessed assets | 43,163,000 | 45,538,000 | 67,345,000 |
Reclassification of loans held-for-investment portfolio to held-for-sale portfolio | 33,647,000 | 123,137,000 | 3,445,000 |
Reclassification of loans held-for-sale portfolio to investment portfolio | 293,000 | 182,000 | 156,000 |
Financed sales of foreclosed real estate | 1,113,000 | 2,212,000 | 4,760,000 |
Loans booked under GNMA buy-back option | 8,268,000 | 9,681,000 | 7,945,000 |
Interest capitalized on loans subject to the temporary payment moratorium | $ 39,701,000 | $ 0 | $ 0 |
Organization, Consolidation and
Organization, Consolidation and Basis of Presentation | 12 Months Ended |
Dec. 31, 2017 | |
Nature of Operations and Summary of Significanrt Accounting Policies | |
Nature Of Operations | NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accounting policies of OFG Bancorp ( Oriental ) conform with GAAP and to banking industry practices. The following is a description of Oriental’s most significant accounting policies: Nature of Operations Oriental is a publicly-owned financial holding company incorporated under the laws of the Commonwealth of Puerto Rico. Oriental operates through various subsidiaries including, a commercial bank, Oriental Bank (the “Bank”), a securit ies broker-dealer, Oriental Financial Services Corp. (“Oriental Financial Services”), an insurance agency, Oriental Insurance, LLC (“Oriental Insurance”), and a retirement plan administrator, Oriental Pension Consultants, Inc. (“OPC”). Oriental also has a special purpose entity, Oriental Financial (PR) Statutory Trust II (the “Statutory Trust II”). Through these subsidiaries and their respective divisions, Oriental provides a wide range of banking and financial services such as commercial, consumer and mort gage lending, leasing, auto loans, financial planning, insurance sales, money management and investment banking and brokerage services, as well as corporate and individual trust services. The main offices of Oriental and its subsidiaries are located in San Juan, Puerto Rico, except for OPC, which is located in Boca Raton, Florida. Oriental is subject to supervision and regulation by the Board of Governors of the Federal Reserve System (the “Federal Reserve Board”) under the U.S. Bank Holding Company Act of 1956, as amended, and the Dodd-Frank Act. The Bank is subject to the supervision, examination and regulation of the Office of the Commissioner of Financial Institutions of Puerto Rico (“OCFI”) and the Federal Deposit Insurance Corporation ( “FDIC”). The Bank offers banking services such as commercial and consumer lending, leasing, auto loans, savings and time deposit products, financial planning, and corporate and individual trust services, and capitalizes on its commercial banking network to provide mortgage lending products to its clients. The Bank has an operating subsidiary, OFG USA, which is a commercial lender organized in Delaware and based in Cornelius, North Carolina. Oriental International Bank Inc. (“OIB”), a wholly-owned subsidiary of the Bank, and Oriental Overseas, a division of the Bank, are international banking entities licensed pursuant to the International Banking Center Regulatory Act of Puerto Rico, as amended. OIB and Oriental Overseas offer the Bank certain Puerto Rico tax advant ages. Their activities are limited under Puerto Rico law to persons located in Puerto Rico with assets/liabilities located outside of Puerto Rico. Oriental Financial Services is a securities broker-dealer and is subject to the supervision, examination an d regulation of the Financial Industry Regulatory Authority (“FINRA”), the SEC, and the OCFI. Oriental Financial Services is also a member of the Securities Investor Protection Corporation. Oriental Insurance is an insurance agency and is subject to the s upervision, examination and regulation of the Office of the Commissioner of Insurance of Puerto Rico. Oriental’s mortgage banking activities are conducted through a division of the Bank. The mortgage banking activities include the origination of mortgage loans for the Bank’s own portfolio, and the sale of loans directly in the secondary market or the securitization of conforming loans into mortgage-backed securities. The Bank originates Federal Housing Administration (“FHA”) insured and Veterans Administr ation (“VA”) guaranteed mortgages that are primarily securitized for issuance of Government National Mortgage Association (“GNMA”) mortgage-backed securities which can be resold to individual or institutional investors in the secondary market. Conventional loans that meet the underwriting requirements for sale or exchange under certain Federal National Mortgage Association (“FNMA”) or Federal Home Loan Mortgage Corporation (“FHLMC”) programs are referred to as conforming mortgage loans and are also securiti zed for issuance of FNMA or FHLMC mortgage-backed securities. The Bank is an approved seller of FNMA, as well as FHLMC, mortgage loans for issuance of FNMA and FHLMC mortgage-backed securities. The Bank is also an approved issuer of GNMA mortgage-backed se curities. The Bank is the master servicer of the GNMA, FNMA and FHLMC pools that it issues and of its mortgage loan portfolio, and has a subservicing arrangement with a third party for a portion of its acquired loan portfolio. During 2016, Oriental began s ervicing most of its mortgage loan portfolio. On December 18, 2012, Orienal purchased from Banco Bilbao Vizcaya Argentaria, S. A. (“BBVA”), all of the outstanding common stock of each of (i) BBVAPR Holding Corporation (“BBVAPR Holding”), the sole shareholder of Banco Bilbao Vizcaya Argentaria Puerto Rico (“BBVAPR Bank”), a Puerto Rico chartered commercial bank, and BBVA Seguros, Inc. (“BBVA Seguros”), a subsidiary offering insurance services, and (ii) BBVA Securities of Puerto Rico, Inc. (“BBVA Sec urities”), a registered broker-dealer. This transaction is referred to as the “BBVAPR Acquisition” and BBVAPR Holding, BBVAPR Bank, BBVA Seguros and BBVA Securities are collectively referred to as the “BBVAPR Companies” or “BBVAPR.” |
Significant Accounting Policies | Principles of Consolidation The accompanying consolidated financial statements include the accounts of OFG Bancorp and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. The Statutory Trust II is exempt from the consolidation requirements of GAAP. Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affe ct the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amount of revenue and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate mainly to the determination of the allowance for loan and lease losses, the valuation of securities and derivative instruments, revisions to expected cash flows in acquired loans, accounting for the indemnification asset, the valuation of the true up payment obligation, the determination of income taxes, other-than-temporary impairment of securities, and goodwill valuation and impa irment assessment. Cash Equivalents Oriental considers as cash equivalents all money market instruments that are not pledged and that have maturities of three months or less at the date of acquisition. Earnings (Loss) per Common Share Basic earnings (loss) per share is calculated by dividing income (loss) available to common shareholders (net income (loss) reduced (increased) by dividends on preferred stock) by the weighted average of outstanding common shares. Diluted earnings (loss) per share is si milar to the computation of basic earnings (loss) per share except that the weighted average of common shares is increased to include the number of additional common shares that would have been outstanding if the potentially dilutive common shares underlyi ng stock options and restricted units had been issued, assuming that proceeds from exercise are used to repurchase shares in the market (treasury stock method). Any stock splits and dividends are retroactively recognized in all periods presented in the con solidated financial statements. Securities Purchased/Sold Under Agreements to Resell/Repurchase Oriental purchases securities under agreements to resell the same or similar securities. Amounts advanced under these agreements represent short-term loans and are reflected as assets in the consolidated statements of financial condition. It is Oriental ’s policy to take possession of securities purchased under resale agreements while the counterparty retains effective control over the securities. Oriental mon itors the fair value of the underlying securities as compared to the related receivable, including accrued interest, and requests additional collateral when deemed appropriate. Oriental also sells securities under agreements to repurchase the same or similar securities. Oriental retains effective control over the securities sold under these agreements. Accordingly, such agreements are treated as financing arrangements, and the obligation s to repurchase the securities sold are reflected as liabilities. The securities underlying the financing agreements remain included in the asset accou nts. The counterparty to repurchase agreements generally has the right to repledge the securities receive d as collateral. Investment Securities Securities are classified as held-to-maturity, available-for-sale or trading. Securities for which Oriental has the intent and ability to hold until maturity are classified as held-to-maturity and are carried at amortized cost. Securities that might be sold prior to maturity because of interest rate changes to meet liquidity needs or to better match the reprici ng characteristics of funding sources are classified as available-for-sale. These securities are reported at fair value, with unrealized gains and losses excluded from earnings and reported net of tax in other comprehensive income (loss). Oriental classi fies as trading those securities that are acquired and held principally for the purpose of selling them in the near future. These securities are carried at fair value with realized and unrealized changes in fair value included in earnings in the period in which the changes occur. Oriental’s investment in the Federal Home Loan Bank of New York (“FHLB -NY ”) stock, a restricted security, has no readily determinable fair value and can only be sold back to the FHLB-NY at cost. Therefore, these stock shares are d eemed to be nonmarketable equity securities and are carried at cost. Premiums and discounts are amortized to interest income over the life of the related securities using the interest method. Net realized gains or losses on sales of investment securities and unrealized gains and losses valuation adjustments considered other than temporary, if any, on securities classified as either available-for-sale or held-to-maturity are reported separately in the statements of operations. The cost of securities sold i s determined by the specific identification method. Financial Instruments Certain financial instruments, including derivatives, trading securities and investment securities available-for-sale, are recorded at fair value and unrealized gains and losses a re recorded in other comprehensive income (loss) or as part of non-interest income, as appropriate. Fair values are based on listed market prices, if available. If listed market prices are not available, fair value is determined based on other relevant fac tors, including price quotations for similar instruments. The fair values of certain derivative contracts are derived from pricing models that consider current market and contractual prices for the underlying financial instruments as the well as time value and yield curve or volatility factors underlying the positions. Oriental determines the fair value of its financial instruments based on the fair value measurement framework, which establishes a fair value hierarchy that prioritizes the inputs of valuat ion techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurement s). The three levels of the fair value hierarchy are described below: Level 1 — Level 1 assets and liabilities include equity securities that are traded in an active exchange market. Valuations are obtained from readily available pricing sources for mark et transactions involving identical assets or liabilities. Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially th e full term of the assets or liabilities. Level 2 assets and liabilities include (i) mortgage-backed securities for which the fair value is estimated based on valuations obtained from third-party pricing services for identical or comparable assets, (ii) de bt securities with quoted prices that are traded less frequently than exchange-traded instruments and (iii) derivative contracts and financial liabilities whose value is determined using a pricing model with inputs that are observable in the market or can be derived principally from or corroborated by observable market data. Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilitie s include financial instruments whose value is determined using pricing models for which the determination of fair value requires significant management judgment or estimation. Impairment of Investment Securities Oriental conducts periodic reviews to identify and evaluate each investment in an unrealized loss position for other-than-temporary impairment. Oriental separates the amount of total impairment into credit and noncredit-related amounts. The term “other-than-temporary impairment” is not intend ed to indicate that the decline is permanent, but indicates that the prospects for a near-term recovery of value is not favorable, or that there is a lack of evidence to support a realizable value equal to or greater than the carrying value of the investme nt. Any portion of a decline in value associated with a credit loss is recognized in income, while the remaining noncredit-related component is recognized in other comprehensive income (loss). A credit loss is determined by assessing whether the amortized cost basis of the security will be recovered by comparing it to the present value of cash flows expected to be collected from the security discounted at the rate equal to the yield used to accrete current and prospective beneficial interest for the securit y. The shortfall of the present value of the cash flows expected to be collected in relation to the amortized cost basis is considered to be the “credit loss.” Oriental’s review for impairment generally entails, but is not limited to: • the identifica tion and evaluation of investments that have indications of possible other-than-temporary impairment; • the analysis of individual investments that have fair values less than amortized cost, including consideration of the length of time the investment ha s been in an unrealized loss position, and the expected recovery period; • the financial condition of the issuer or issuers; • the creditworthiness of the obligor of the security; • actual collateral attributes; • any rating changes by a rating age ncy; • current analysts’ evaluations; • the payment structure of the debt security and the likelihood of the issuer being able to make payments; • current market conditions; • adverse conditions specifically rel ated to the security, industry, or a geographic area; • Oriental’s intent to sell the debt security; • whether it is more-likely-than-not that Oriental will be required to sell the debt security before its anticipated recovery; and • other qualitativ e factors that could support or not an other-than-temporary impairment. Derivative Instruments and Hedging Activities Oriental’s overall interest rate risk-management strategy incorporates the use of derivative instruments to minimize significant unpla nned fluctuations in earnings that are caused by interest rate volatility. Oriental’s goal is to manage interest rate sensitivity by modifying the repricing or maturity characteristics of certain balance sheet assets and liabilities so that the net interes t margin is not, on a material basis, adversely affected by movements in interest rates. As a result of interest rate fluctuations, hedged fixed-rate assets and liabilities will appreciate or depreciate in market value. Also, for some fixed-rate assets or liabilities, the effect of this variability in earnings is expected to be substantially offset by Oriental’s gains and losses on the derivative instruments that are linked to the forecasted cash flows of these hedged assets and liabilities. Oriental consid ers its strategic use of derivatives to be a prudent method of managing interest-rate sensitivity as it reduces the exposure of earnings and the market value of its equity to undue risk posed by changes in interest rates. The effect of this unrealized appr eciation or depreciation is expected to be substantially offset by Oriental’s gains or losses on the derivative instruments that are linked to these hedged assets and liabilities. Another result of interest rate fluctuations is that the contractual interes t income and interest expense of hedged variable-rate assets and liabilities, respectively, will increase or decrease. Derivative instruments that are used as part of Oriental’s interest rate risk-management strategy include interest rate swaps, caps, fo rward-settlement swaps, and futures contracts. Interest rate swaps generally involve the exchange of fixed and variable-rate interest payments between two parties based on a common notional principal amount and maturity date. Interest rate futures generall y involve exchange-traded contracts to buy or sell U.S. Treasury bonds and notes in the future at specified prices. Interest rate options represent contracts that allow the holder of the option to (i) receive cash or (ii) purchase, sell, or enter into a fi nancial instrument at a specified price within a specified period. Some purchased option contracts give Oriental the right to enter into interest rate swaps and cap and floor agreements with the writer of the option. In addition, Oriental enters into certa in transactions that contain embedded derivatives. When the embedded derivative possesses economic characteristics that are not clearly and closely related to the economic characteristics of the host contract, it is bifurcated and carried at fair value. When using derivative instruments, Oriental exposes itself to credit and market risk. If a counterparty fails to fulfill its performance obligations under a derivative contract due to insolvency or any other event of default, Oriental’s credit risk will eq ual the fair value gain in a derivative plus any cash or securities that may have been delivered to the counterparty as part of the transaction terms. Generally, when the fair value of a derivative contract is positive, this indicates that the counterparty owes Oriental, thus creating a repayment risk for Oriental. This risk is generally mitigated by requesting cash or securities from the counterparty to cover the positive fair value. When the fair value of a derivative contract is negative, Oriental owes t he counterparty and, therefore, assumes no credit risk other than to the extent that the cash or value of the collateral delivered as part of the transactions exceeds the fair value of the derivative. Oriental minimizes the credit (or repayment) risk in de rivative instruments by entering into transactions with high-quality counterparties. Oriental uses forward-settlement swaps to hedge the variability of future interest cash flows of forecasted wholesale borrowings attributable to changes in LIBOR. Once t he forecasted wholesale borrowing transactions occur, the interest rate swap will effectively lock-in Oriental’s interest rate payments on an amount of forecasted interest expense attributable to the one-month LIBOR corresponding to the swap notional amoun t. By employing this strategy, Oriental minimizes its exposure to volatility in LIBOR. As part of this hedging strategy, Oriental formally documents all relationships between hedging instruments and hedged items, as the well as its risk-management object ive and strategy for undertaking various hedging transactions. This process includes linking all derivatives that are designated as cash flow hedges to (i) specific assets and liabilities on the balance sheet or (ii) specific firm commitments or forecasted transactions. Oriental also formally assesses (both at the hedge’s inception and on an ongoing basis) whether the derivatives that are used in hedging transactions have been highly effective in offsetting changes in the fair value or cash flows of hedged items and whether those derivatives may be expected to remain highly effective in future periods. The changes in fair value of the forward-settlement swaps are recorded in accumulated other comprehensive income (loss) to the extent there is no significant ineffectiveness. Oriental discontinues hedge accounting prospectively when (i) it determines that the derivative is no longer effective in offsetting changes in the cash flows of a hedged item (including hedged items such as firm commitments or forecaste d transactions); (ii) the derivative expires or is sold, terminated, or exercised; (iii) it is no longer probable that the forecasted transaction will occur; (iv) a hedged firm commitment no longer meets the definition of a firm commitment; or (v) manageme nt determines that designating the derivative as a hedging instrument is no longer appropriate or desired. Oriental’s derivative activities are monitored by its Asset/Liability Management Committee which is also responsible for approving hedging strategi es that are developed through its analysis of data derived from financial simulation models and other internal and industry sources. The resulting hedging strategies are then incorporated into Oriental’s overall interest rate risk-management. Off-Balance Sheet Instruments In the ordinary course of business, Oriental enters into off-balance sheet instruments consisting of commitments to extend credi t, further discussed in Note 26 hereto. Such financial instruments are recorded in the financial statements when these are funded or related fees are incurred or received. Oriental periodically evaluates the credit risks inherent in these commitments and establishes accruals for such risks if and when these are deemed necessary. Mortgage Banking Ac tivities and Loans Held-For-Sale The residential mortgage loans reported as held-for-sale are stated at the lower of cost or fair value, cost being determined on the outstanding loan balance less unearned income, and fair value determined in the aggregat e. Net unrealized losses are recognized through a valuation allowance by charges to income. Realized gains or losses on these loans are determined using the specific identification method. Loans held-for-sale include all conforming mortgage loans originate d and purchased, which from time to time Oriental sells to other financial institutions or securitizes conforming mortgage loans into GNMA, FNMA and FHLMC pass-through certificates. Accounting for Transfers and Servicing of Financial Assets and Extinguis hment of Liabilities Oriental recognizes the financial and servicing assets it controls and the liabilities it has incurred, derecognizes financial assets when control has been surrendered, and derecognizes liabilities when extinguished. Oriental is not engaged in sales of mortgage loans and mortgage-backed securities subject to recourse provisions except for those provisions that allow for the repurchase of loans as a result of a breach of certain representations and warranties other than those related t o the credit quality of the loans included in the sale transactions. The transfer of an entire financial asset, a group of entire financial assets, or a participating interest in an entire financial asset in which Oriental surrenders control over the ass ets is accounted for as a sale if all of the following conditions set forth in Accounting Standards Codification ("ASC") Topic 860 are met: (i) the assets must be isolated from creditors of the transferor, (ii) the transferee must obtain the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (iii) the transferor cannot maintain effective control over the transferred assets through an agreement to repurchase them before their mat urity. When Oriental transfers financial assets and the transfer fails any one of these criteria, Oriental is prevented from derecognizing the transferred financial assets and the transaction is accounted for as a secured borrowing. For federal and Puerto Rico income tax purposes, Oriental treats the transfers of loans which do not qualify as “true sales” under the applicable accounting guidance, as sales, recognizing a deferred tax asset or liability on the transaction. For transfers of financial assets th at satisfy the conditions to be accounted for as sales, Oriental derecognizes all assets sold; recognizes all assets obtained and liabilities incurred in consideration as proceeds of the sale, including servicing assets and servicing liabilities, if applic able; initially measures at fair value assets obtained and liabilities incurred in a sale; and recognizes in earnings any gain or loss on the sale. The guidance on transfer of financial assets requires a true sale analysis of the treatment of the transfer under state law as if Oriental was a debtor under the bankruptcy code. A true sale legal analysis includes several legally relevant factors, such as the intent of the parties, the nature and level of recourse to the transferor, and the nature of retained i nterests in the loans sold. The analytical conclusion as to a true sale is never absolute and unconditional, but contains qualifications based on the inherent equitable powers of a bankruptcy court, as well as the unsettled state of the common law. Once th e legal isolation test has been met, other factors concerning the nature and extent of the transferor’s control over the transferred assets are taken into account in order to determine whether derecognition of assets is warranted. When Oriental sells or securitizes mortgage loans, it generally makes customary representations and warranties regarding the characteristics of the loans sold. Conforming conventional mortgage loans are combined into pools which are exchanged for FNMA and GNMA mortgage-backed se curities, which are generally sold to private investors, or sold directly to FNMA or other private investors for cash. To the extent the loans do not meet the specified characteristics, investors are generally entitled to require Oriental to repurchase suc h loans or indemnify the investor against losses if the assets do not meet certain guidelines. GNMA programs allow financial institutions to buy back individual delinquent mortgage loans that meet certain criteria from the securitized loan pool for which O riental provides servicing. At Oriental’s option and without GNMA prior authorization, Oriental may repurchase such delinquent loans for an amount equal to 100% of the loan’s remaining principal balance. This buy-back option is considered a conditional opt ion until the delinquency criteria is met, at which time the option becomes unconditional. When the loans backing a GNMA security are initially securitized, Oriental treats the transaction as a sale for accounting purposes because the conditional nature of the buy-back option means that Oriental does not maintain effective control over the loans, and therefore these are derecognized from the statement of financial condition. When individual loans later meet GNMA’s specified delinquency criteria and are elig ible for repurchase, Oriental is deemed to have regained effective control over these loans, and these must be brought back onto Oriental’s books as assets, regardless of whether Oriental intends to exercise the buy-back option. Quality review procedures a re performed by Oriental as required under the government agency programs to ensure that asset guideline qualifications are met. Oriental has not recorded any specific contingent liability in the consolidated financial statements for these customary repres entation and warranties related to loans sold by Oriental, and management believes that, based on historical data, the probability of payments and expected losses under these representation and warranty arrangements is not significant. Oriental has liabil ity for residential mortgage loans sold subject to credit recourse , principally loans associated with FNMA residential mortgage loan sales and securitization programs . In the event of any customer default, pursuant to the credit recourse provided, Oriental is required to repurchase the loan or reimburse the third party investor for the incurred loss. The maximum potential amount of future payments that Oriental would be required to make under the recourse arrangements in the event of nonperformance by the b orrowers is equivalent to the total outstanding balance of the residential mortgage loans serviced with recourse and interest, if applicable. In the event of nonperformance by the borrower, Oriental has rights to the underlying collateral securing the mort gage loan. Oriental 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. Oriental has established a liability to cover the estimated credit loss exposure related to loans sold with credit recourse. The estimated losses to be absorbed under the credit recourse arrangemen ts are recorded as a liability when the loans are sold or credit recourse is assumed as part of acquired servicing rights, and are updated by accruing or reversing expense (categorized in the line item "mortgage banking activities" in the consolidated stat ements of operations) throughout the life of the loan, as necessary, when additional relevant information becomes available. The methodology used to estimate the recourse liability is a function of the recourse arrangements given and considers a variety of factors, which include actual defaults and historical loss experience, foreclosure rate, estimated future defaults and the probability that a loan would be delinquent. Statistical methods are used to estimate the recourse liability. The expected loss, whi ch represents the amount expected to be lost on a given loan, considers the probability of default and loss severity. The probability of default represents the probability that a loan in good standing would become 12 0 days delinquent within the following t welve-month period. Servicing Assets Oriental periodically sells or securitizes mortgage loans while retaining the obligation to perform the servicing of such loans. In addition, Oriental may purchase or assume the right to service mortgage loans originated by others. Whenever Oriental undertakes an obligation to service a loan, management assesses whether a servicing asset and/or liability should be recognized. A servicing asset is recognized whenever the compensation for servicing is expected to more than adequately compensate Oriental for servicing the loans. Likewise, a servicing liability would be recognized in the event that servicing fees to be received are not expected to adequately compensate Oriental for its expected cost. All separately recognized servicing assets are recognized at fair value using the fair value measurement method. Under the fair value measurement method, Oriental measures servicing rights at fair value at each reporting date and reports changes in fair value of servici ng asset in the statement of operations in the period in which the changes occur, and includes these changes, if any, with mortgage banking activities in the consolidated statement of operations. The fair value of servicing rights is subject to fluctuation s as a result of changes in estimated and actual prepayment speeds and default rates and losses. The fair value of servicing rights is estimated by using a cash flow valuation model which calculates the present value of estimated future net servicing cas h flows, taking into consideration actual and expected loan prepayment rates, discount rates, servicing costs, and other economic factors, which are determined based on current market conditions. Loans and Leases Originated and Other Loans and Leases He ld in Portfolio Loans that Oriental originates and intends to hold in portfolio are stated at the principal amount outstanding, adjusted for unamortized deferred fees and costs which are amortized to interest income over the expected life of the loan usin g the interest method. Oriental discontinues accrual of interest on originated loans after payments become more than 90 days past due or earlier if Oriental does not expect the full collection of principal or interest. The delinquency status is based upon the contractual terms of the loans. Loans for which the recognition of interest income has been discontinued are designated as non-accruing. Collections are accounted for on the cash method thereafter, until qualifying to return to accrual status. Such l oans are not reinstated to accrual status until interest is received on a current basis and other factors indicative of doubtful collection cease to exist. The determination as to the ultimate collectability of the loan’s balance may involve management’s judgment in the evaluation of the borrower’s financial condition and prospects for repayment. Oriental follows a systematic methodology to establish and evaluate the adequacy of the allowance for loan and lease losses to provide for inherent losses in the loan portfolio. This methodology includes the consideration of factors such as economic conditions, portfolio risk characteristics, prior loss experience, and results of periodic credit reviews of individual loans. The provision for loan and lease losses charged to current operations is based on such methodology. Loan and lease losses are charged and recoveries are credited to the allowance for loan and lease losses on originated and other loans. Larger commercial loans that exhibit potential or observed credit weaknesses are subject to individual review and grading. Where appropriate, allowances are allocated to individual loans based on management’s estimate of the borrower’s ability to repay the loan given the availability of collateral, other sources of cash flow, and legal options available to Oriental. Included in the review of individual loans are those that are impaired. A loan is considered impaired when, based on current information and events, it is probable that Oriental will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Impaired loans are measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate , or as a practical expedient, at the observable market price of the loan or the fair value of the collateral, if the loan is collateral dependent. Loans are individually evaluated for impairment, except large groups of small balance homogeneous loans that are collectively evaluated for impairment and loans that are recorded at fair value or at the lower of cost or fair value. Oriental measures for impairment all commercial loans over $250 thousand (i) that are either over 90 days past due or adversely clas sified, (ii) that are troubled-debt restructurings (each a " TDR’s”), or (iii) when deemed necessary by management. The portfolios of mortgage loans, auto and leasing, and consumer loans are considered homogeneous and are evaluated collectively for impairme nt. Oriental uses a rating system to apply an overall allowance percentage to each originated and other loan portfolio segment based on historical credit losses adjusted for current conditions and trends. The historical loss experience is determined by p ortfolio segment and is based on the actual loss history experienced by Oriental over a determined look back period for each segment. The actual loss factor is adjusted by the appropriate loss emergence period as calculated for each portfolio. Then, the ad justed loss experience is supplemented with other qualitative factors based on the risks present for each portfolio segment. These qualitative factors include consideration of the following: the credit grading assigned to commercial loans; levels of and tr ends in delinquencies and impaired loans; levels of and trends in charge-offs and recoveries; trends in volume and terms of loans; effects of any changes in risk selection and underwriting standards; other changes in lending policies, procedures, and pract ices; experience, ability, and depth of lending management and other relevant staff, including the bank’s loan review system as graded by regulatory agencies in their last examination; local economic trends and conditions; industry conditions; effects of e xternal factors such as competition and regulatory requirements on the level of estimated credit losses in the current portfolio; and effects of changes in credit concentrations and collateral value. An additional impact from the historical loss experienc e is applied based on levels of delinquency, loan classification, FICO score and/or origination date, depending on the portfolio. At origination, a determination is made whether a loan will be held in our portfolio or is intended for sale in the secondar y market. Loans that will be held in Oriental’s portfolio are carried at amortized cost. Residential mortgage loans held for sale are recorded at the lower of the aggregate cost or market value (“LOCO |
Significant Event
Significant Event | 12 Months Ended |
Dec. 31, 2017 | |
Extraordinary And Unusual Items Abstract | |
Unusual Or Infrequent Items Disclosure Text Block | NOTE 2 – S IGNIFICANT EVENTS Hurricanes Irma and Maria During 2017, Oriental was impacted by h urricanes Ir ma and Maria, which struck the I sland on September 7, 2017 and September 20, 2017, respectively. H urricane Maria caused catastrophic damages throughout Puerto Rico, including homes, businesses, roads, bridges, power lines, commercial establishments, and public facilities. It caused an unprecedented crisis when it ravaged the Island’s electric power grid less than two weeks after hurricane Irma left over a million Puerto Rico residents without power. For several months after the hurricanes, a large part of Puerto Rico was and some areas still remain without electricity, many businesses we re unable to operate, and government a uthorities struggled to deliver emergency supplies and clean drinking water to many communities outside t he San Juan metropolitan area. Further, payment and delivery systems, including the U.S. Post Office, were unable to operate for weeks after hurricane Maria. Almost all of Oriental’s operations and clien ts are located in Puerto Rico. Although Oriental’s business operations were disrupted by major damages to Puerto Rico’s critical infrastructure, including its electric power grid and telecommunica tions network, Oriental ’s digital channels, core banking and electronic funds transfer systems continued to function uninterrupted du ring and after the hurricanes. Within days after hurricane Maria, and upon securing a continuing supply of diesel fuel for its electric power generators, Oriental was able to open its main offices and many of its branches and ATMs in addition to its digital and phone trade channels . As a result of this event , and b ased on current assessments of information available for the i mpact of the hurricanes on our credit portfolio, 2017 resu lts included an additional $32.4 million in loan loss provision, pre-tax . Refer to Note 7 for further disclosure associated to this significant event. Oriental implemented its disaster response pla n as these storms approached its service areas. To operate in disaster response mode, the Oriental incurred expenses for, among other things, buying diesel and generators for electric power, debris removal, security matters, property damages, and emergency communication with customers regarding the status of Bank operations. The total estimated total losses as of December 31, 2017 amounted to $ 6.6 million. Oriental maintains insurance for casualty losses as well as for disaster response costs and certain revenue lost through business interruption. Management believes that recovery of $ 2.2 million incurred costs as of December 31, 2017 is probable. Oriental received a $ 1.0 million partial payment from the insurance company during December 2017. Accordingly, a receivable of $ 1.2 million was included in other assets as of December 31, 2017 for the expected recovery. |
Resticted Cash
Resticted Cash | 12 Months Ended |
Dec. 31, 2017 | |
Restricted Cash And Investments Abstract | |
Resticted Cash Disclosure | NOTE 3 – RESTRICTED CASH The following table includes the composition of Oriental ’s restricted cash : December 31, 2017 2016 (In thousands) Cash pledged as collateral to other financial institutions to secure: Derivatives $ 1,980 $ 1,980 Obligations under agreement of loans sold with recourse 1,050 1,050 $ 3,030 $ 3,030 At December 31 , 2017 , the Bank’s international banking entities, Oriental International Bank Inc. (“OIB”) and Oriental Overseas, a division of the Bank, held an unencumbered certificate of deposit and other short-term highly liquid securities in the amount of $ 300 thousand and $ 325 thousand, respectively, as the legal reserve required for international banking entities under Puerto Rico law. At December 31 , 2016 , each held an unencumbered certificate of deposit in the amount of $300 thousand . These instruments cannot be withdrawn or transferred by OIB or Oriental Overseas without prior written approval of the Office of the Commissi oner of Financial Institutions of Puerto Rico ( the " OCFI"). As part of its derivative activities, Oriental has entered into collateral agreements with certain financial counterparties. At both December 31 , 2017 and 2016 , Oriental had delivered approx imately $2.0 million of cash as collateral for such derivatives activities. As part of the BBVA Acquisition, Oriental assumed a contract with FNMA which required collateral to guarantee the repurchase, if necessary, of loans sold with recourse. At both December 31 , 2017 and 2016 , Oriental delivered as collateral cash amounting to approximately $1.1 million. The Bank is required by Puerto Rico law to maintain average weekly reserve balances to cover demand deposits. The amount of those minimum average reserve balances for the week that covered December 31 , 2017 was $ 189.2 million ( December 31 , 2016 - $ 161.0 million). At December 31 , 2017 and 2016 , the Bank complied with the requirement. Cash and due from bank as well as other short-term, highly liq uid securities are used to cover the required average reserve balances. |
Investment Securities
Investment Securities | 12 Months Ended |
Dec. 31, 2017 | |
Investments [Abstract] | |
Investments Securities | NOTE 4 – INVESTMENT SECURITIES Money Market Investments Oriental considers as cash equivalents all money market instruments that are not pledged and that have maturities of three months or less at the date of acquisition. At December 31 , 2017 and 2016 , money market instruments included as part of cash and cash equivalents amounted to $7.0 million and $ 5.6 million, respectively. Investment Securities The amortized cost, gross unrealized gains and losses, fair value, and weighted average yield of the securities owned by Oriental at December 31 , 2017 and 2016 were as follows: December 31, 2017 Gross Gross Weighted Amortized Unrealized Unrealized Fair Average Cost Gains Losses Value Yield (In thousands) Available-for-sale Mortgage-backed securities FNMA and FHLMC certificates $ 383,194 $ 1,402 $ 2,881 $ 381,715 2.39% GNMA certificates 166,436 1,486 584 167,338 2.94% CMOs issued by US government-sponsored agencies 82,026 - 1,955 80,071 1.90% Total mortgage-backed securities 631,656 2,888 5,420 629,124 2.47% Investment securities US Treasury securities 10,276 - 113 10,163 1.25% Obligations of US government-sponsored agencies 2,927 - 48 2,879 1.38% Obligations of Puerto Rico government and public instrumentalities 2,455 - 362 2,093 5.55% Other debt securities 1,486 52 - 1,538 2.97% Total investment securities 17,144 52 523 16,673 2.04% Total securities available for sale $ 648,800 $ 2,940 $ 5,943 $ 645,797 2.46% Held-to-maturity Mortgage-backed securities FNMA and FHLMC certificates $ 506,064 $ - $ 8,383 $ 497,681 2.07% December 31, 2016 Gross Gross Weighted Amortized Unrealized Unrealized Fair Average Cost Gains Losses Value Yield (In thousands) Available-for-sale Mortgage-backed securities FNMA and FHLMC certificates $ 422,168 $ 6,354 $ 3,036 $ 425,486 2.59% GNMA certificates 163,614 2,241 620 165,235 2.95% CMOs issued by US government-sponsored agencies 103,990 64 2,223 101,831 1.88% Total mortgage-backed securities 689,772 8,659 5,879 692,552 2.57% Investment securities US Treasury securities 49,672 - 618 49,054 1.73% Obligations of US government-sponsored agencies 3,903 - 19 3,884 1.38% Obligations of Puerto Rico government and public instrumentalities 4,680 - 607 4,073 5.55% Other debt securities 1,840 81 - 1,921 3.00% Total investment securities 60,095 81 1,244 58,932 2.04% Total securities available-for-sale $ 749,867 $ 8,740 $ 7,123 $ 751,484 2.53% Held-to-maturity Mortgage-backed securities FNMA and FHLMC certificates $ 599,884 $ 145 $ 7,266 $ 592,763 2.15% The amortized cost and fair value of Oriental ’s investment securities at December 31 , 2017 , by contractual maturity, are shown in the next table. Securities not due on a single contractual maturity date, such as collateralized mortgage obligations, are classified in the period of final contractual maturity. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. December 31, 2017 Available-for-sale Held-to-maturity Amortized Cost Fair Value Amortized Cost Fair Value (In thousands) Mortgage-backed securities Due from 1 to 5 years FNMA and FHLMC certificates $ 6,405 $ 6,430 $ - $ - Total due from 1 to 5 years 6,405 6,430 - - Due after 5 to 10 years CMOs issued by US government-sponsored agencies $ 72,562 $ 70,705 $ - $ - FNMA and FHLMC certificates 126,096 124,446 - - Total due after 5 to 10 years 198,658 195,151 - - Due after 10 years FNMA and FHLMC certificates $ 250,693 $ 250,839 $ 506,064 $ 497,681 GNMA certificates 166,436 167,338 - - CMOs issued by US government-sponsored agencies 9,464 9,366 - - Total due after 10 years 426,593 427,543 506,064 497,681 Total mortgage-backed securities 631,656 629,124 506,064 497,681 Investment securities Due less than one year US Treasury securities $ 325 $ 324 $ - $ - Obligations of Puerto Rico government and public instrumentalities 2,455 2,093 - - Total due in less than one year 2,780 2,417 - - Due from 1 to 5 years US Treasury securities $ 9,951 $ 9,839 $ - $ - Obligations of US government and sponsored agencies 2,927 2,879 - - Total due from 1 to 5 years 12,878 12,718 - - Due from 5 to 10 years Other debt securities 1,486 1,538 - - Total due after 5 to 10 years 1,486 1,538 - - Total investment securities 17,144 16,673 - - Total $ 648,800 $ 645,797 $ 506,064 $ 497,681 During the year ended December 31 , 2017 Oriental retained securitized GNMA pools totaling $ 74. 9 million amortized cost, at a yield of 3.14 % from its own origination s while during the year end ed December 31 , 2016 that amount totaled $ 112.2 million, amortized cost, at a yield of 2.89 %. During the year ended December 31 , 2017 , Oriental sold $ 166.0 million o f mortgage-backed securities and $ 84.1 million of US Treasury securities , and recorded a net gain on sale of securities of $ 6.9 million . During the year ended December 31 , 2016 , Oriental sold $277.2 million on mortgage-backed securities and $11.1 million of Puerto Rico government bonds, and recorded a net gain on sale of securities of $12.2 million. Year Ended December 31, 2017 Book Value Description Sale Price at Sale Gross Gains Gross Losses (In thousands) Sale of securities available-for-sale Mortgage-backed securities FNMA and FHLMC certificates $ 107,510 $ 102,311 $ 5,199 $ - GNMA certificates 65,284 63,704 1,580 - Investment securities US Treasury securities 84,202 84,085 117 - Total $ 256,996 $ 250,100 $ 6,896 $ - Year Ended December 31, 2016 Book Value Description Sale Price at Sale Gross Gains Gross Losses (In thousands) Sale of securities available-for-sale Mortgage-backed securities FNMA and FHLMC certificates $ 293,505 $ 277,181 $ 16,324 $ - Investment securities Obligations of PR government and public instrumentalities 6,978 11,095 - 4,117 Total mortgage-backed securities $ 300,483 $ 288,276 $ 16,324 $ 4,117 Year Ended December 31, 2015 Book Value Description Sale Price at Sale Gross Gains Gross Losses (In thousands) Sale of securities available-for-sale Mortgage-backed securities FNMA and FHLMC certificates $ 40,307 $ 37,736 $ 2,571 $ - GNMA certificates 63,524 63,523 1 - Total mortgage-backed securities $ 103,831 $ 101,259 $ 2,572 $ - The following tables sho w Oriental ’s gross unrealized losses and fair value of investment securities available-for-sale and held-to-maturity, aggregated by investment category and the length of time that individual securities have been in a continuo us unrealized loss position at December 31 , 2017 and 2016 : December 31, 2017 12 months or more Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US Government-sponsored agencies $ 72,562 $ 1,857 $ 70,705 FNMA and FHLMC certificates 111,635 2,122 109,513 Obligations of US Government and sponsored agencies 2,927 48 2,879 Obligations of Puerto Rico government and public instrumentalities 2,455 362 2,093 GNMA certificates 20,803 499 20,304 US Treasury Securities 9,952 113 9,839 $ 220,334 $ 5,001 $ 215,333 Securities held to maturity FNMA and FHLMC certificates $ 352,399 $ 7,264 $ 345,135 Less than 12 months Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies $ 9,464 $ 98 $ 9,366 FNMA and FHLMC certificates 125,107 759 124,348 GNMA certificates 14,001 85 13,916 US Treausury Securities 324 - 324 $ 148,896 $ 942 $ 147,954 Securities held-to-maturity FNMA and FHLMC Certificates $ 153,665 $ 1,119 $ 152,546 Total Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies $ 82,026 $ 1,955 $ 80,071 FNMA and FHLMC certificates 236,742 2,881 233,861 Obligations of Puerto Rico government and public instrumentalities 2,455 362 2,093 Obligations of US government and sponsored agencies 2,927 48 2,879 GNMA certificates 34,804 584 34,220 US Treausury Securities 10,276 113 10,163 $ 369,230 $ 5,943 $ 363,287 Securities held-to-maturity FNMA and FHLMC certificates $ 506,064 $ 8,383 $ 497,681 December 31, 2016 12 months or more Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale Obligations of Puerto Rico government and public instrumentalities $ 4,680 $ 607 $ 4,073 CMOs issued by US government-sponsored agencies 33,883 793 33,090 $ 38,563 $ 1,400 $ 37,163 Less than 12 months Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies 67,777 1,430 66,347 FNMA and FHLMC certificates 184,782 3,036 181,746 Obligations of US government and sponsored agencies 3,903 19 3,884 GNMA certificates 29,445 620 28,825 US Treasury Securities 49,172 618 48,554 $ 335,079 $ 5,723 $ 329,356 Securities held to maturity FNMA and FHLMC certificates $ 525,258 $ 7,266 $ 517,992 Total Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies 101,660 2,223 99,437 FNMA and FHLMC certificates 184,782 3,036 181,746 Obligations of Puerto Rico government and public instrumentalities 4,680 607 4,073 Obligations of US government and sponsored agencies 3,903 19 3,884 GNMA certificates 29,445 620 28,825 US Treasury Securities 49,172 618 48,554 $ 373,642 $ 7,123 $ 366,519 Securities held to maturity FNMA and FHLMC certificates $ 525,258 $ 7,266 $ 517,992 The following table presents a rollforward of credit-re lated impairment losses recognized in earnings for the years ended December 31 , 2017 , 2016 and 2015 on available-for-sale securities Oriental performs valuations of the investment securities on a monthly basis. Moreover, Oriental conducts quarterly reviews to identify and evaluate each investment in an unrealized loss position for other-than-temporary impairment. Any portion of a dec line in value associated with credit loss is recognized in the statements of operations with the remaining noncredit-related component recognized in other comprehensive income (loss). A credit loss is determined by assessing whether the amortized cost basi s of the security will be recovered by comparing the present value of cash flows expected to be collected from the security, discounted at the rate equal to the yield used to accrete current and prospective beneficial interest for the security. The shortfa ll of the present value of the cash flows expected to be collected in relation to the amortized cost basis is considered to be the “credit loss.” Other-than-temporary impairment analysis is based on estimates that depend on market conditions and are subjec t to further change over time. In addition, while Oriental believes that the methodology used to value these exposures is reasonable, the methodology is subject to continuing refinement, including those made as a result of market developments. Consequently , it is reasonably possible that changes in estimates or conditions could result in the need to recognize additional other-than-temporary impairment charges in the future. Most of the investments ($ 872.8 million, amortized cost, or 99.7 %) with an unreali zed loss position at December 31 , 2017 consist of securities issued or guaranteed by the U.S. Treasury or U.S. government-sponsored agencies, all of which are highly liquid securities that have a large and efficient secondary market. Their aggregate losse s and their variability from period to period are the result of changes in market conditions, and not due to the repayment capacity or creditworthiness of the issuers or guarantors of such securities. The sole exposure to a P uerto R ico government bond ($ 2 .5 million, amortized cost, or 0.3 %) with an unrealized loss position at December 31 , 2017 consists of an obligation issued by the Puerto Rico Highways and Transportation Authority ("PRHTA") secured by a pledge of toll revenues from the Teodoro Moscoso Br idge operated through a public-private partnership. The decline in the market value of this security is mainly attributed to the significant economic and fiscal challenges that Puerto Rico is facing, which is expected to result in a significant restructuri ng of the government under the supervision of the federally - created Fiscal Oversight and Management Board of Puerto Rico . All other Puerto Rico government securities were sold during the first quarter of 2016. The PRHTA bond had an aggregate fair value of $ 2.1 million at December 31 , 2017 ( 85 % of the bond's amortized cost) and matures on July 1, 2018. The discounted cash flow analysis for the investment showed a cumulative default probability at maturity of 4.4 %, thus reflecting that it is more likely than not that the bond will not default during its remaining term. Based on this analysis, Oriental determined that it is more likely than not that it will recover all interest and principal invested in this Puerto Rico government bond and is, therefore, not r equired to recognize a credit loss as of December 31 , 2017 . Also, Oriental ’s conclusion is based on the assessment of the specific source of repayment of the outstanding bond, which continues to perform. PRHTA started principal repayments on July 1, 2014. All scheduled principal and interest payments to date have been collected. As a result of the aforementioned analysis, no other-than-temporary losses were recorded during the year ended December 31 , 2017 . As of December 31 , 2017 , Oriental performed a cash flow analysis of its Puerto Rico government bond to calculate the cash flows expected to be collected and determine if any portion of the decline in market value of this investment was considered an other-than-temporary impairment. The an alysis derives an estimate of value based on the present value of risk-adjusted future cash flows of the underlying investment, and included the following components: The contractual future cash flows of the bond are projected based on the key terms as se t forth in the PRHTA official statement for the investment. Such key terms include among others the interest rate, amortization schedule, if any, and the maturity date. The risk-adjusted cash flows are calculated based on a monthly default probability and recovery rate assumptions based on the credit rating of the investment. Constant monthly default rates are assumed throughout the life of the bond which is based on the respective security’s credit rating as of the date of the analysis. The adjusted future cash flows are then discounted at the original effective yield of the investment based on the purchase price and expected risk-adjusted future cash flows as of the purchase date of the investment. Year Ended December 31, 2017 2016 2015 (In thousands) Balance at beginning of year $ - $ 1,490 $ - Reductions for securities sold during the period (realized) - (1,490) - Additions from credit losses recognized on available-for-sale securities that had no previous impairment lossess - - 1,490 Balance at end of year $ - $ - $ 1,490 |
Pledge Assets
Pledge Assets | 12 Months Ended |
Dec. 31, 2017 | |
TransfersAndServicingAbstract | |
Pledge Assets [Text Block] | NOTE 5 - PLEDGED ASSETS The following table shows a summary of pledged and not pledged assets at December 31 , 2017 and 2016 . Investment securities available for sale are presented at fair value, and investment securities held-to-maturity, residential mortgage loans, commercial loans and leases are presented at amortized cost: December 31, 2017 2016 (In thousands) Pledged investment securities to secure: Securities sold under agreements to repurchase $ 205,484 $ 700,498 Derivatives 1,478 2,397 Bond for the Bank's trust operations 341 348 Puerto Rico public fund deposits 22,948 - Total pledged investment securities 230,251 703,243 Pledged residential mortgage loans to secure: Advances from the Federal Home Loan Bank 971,772 1,028,234 Pledged commercial loans to secure: Advances from the Federal Home Loan Bank 305,346 381,990 Federal Reserve Bank Credit Facility 993 1,303 Puerto Rico public fund deposits 150,036 209,236 456,375 592,529 Total pledged assets $ 1,658,398 $ 2,324,006 Financial assets not pledged: Investment securities $ 921,610 $ 648,125 Residential mortgage loans 325,698 348,030 Commercial loans 1,152,151 1,064,923 Consumer loans 361,497 329,050 Auto loans and leases 949,650 895,097 Total assets not pledged $ 3,710,606 $ 3,285,225 |
Loans Receivable
Loans Receivable | 12 Months Ended |
Dec. 31, 2017 | |
Loans Receivable [Abstract] | |
LOANS RECEIVABLE | NOTE 6 - LOANS Oriental’s loan portfolio is composed of two segments, loans initially accounted for under the amortized cost method (referred to as "originated and other" loans) and loans acquired (referred to as "acquired" loans). Acquired loans are further segregated between acquired BBVAPR loans and acquired Eurobank loans. Acquired Eurobank loans were purchased subject to loss-sharing agreements with the FDIC , which were terminated on February 6, 2017 . As a result of the devastation cau sed by hur ricane s Irma and Maria, Oriental offered an automatic three-month moratorium for the payment due on auto and personal loans for customers whose payments were not over 89 days past due at August 31, 2017. These payments, together with any additio nal accrued interest , are pa yable in three installments after the original maturity of the loan s . Residential mortgage loans have the same moratorium , but the payments subject to the moratorium on non-conforming loans are payable in aggregate as a ballo on payment at the maturity of the loan and on conforming mortgage loans the repayment terms are established on a case by case basis at the end of the moratorium period . For credit cards, that were not over 29 days past due at August 31, 2017, the minimum payment amount was waived until December 31, 2017. Oriental also offered an automatic one-month moratorium for the payment of p rincipal and interest o n commercial loans for customers whose payments were not over 30 days past due at August 31, 2017, and the flexibility of extending it up to two additional months, based on the customer's needs. Oriental had approxim ately 8 3 thousand loans under the moratorium program amounting to $ 2. 6 billion at December 31, 2017 . The level of delinquencies for mortgage and auto loans as of December 31, 2017 was impacted by the loan moratorium. Although the repayment schedule was modified as part of the moratorium, certain borrowers continued to make payments, having an impact on the respective delinquency status . The composition of Oriental’s loan portfolio at December 31 , 2017 and 2016 was as follows : December 31, 2017 2016 (In thousands) Originated and other loans and leases held for investment: Mortgage $ 683,607 $ 721,494 Commercial 1,307,261 1,277,866 Consumer 330,039 290,515 Auto and leasing 883,985 756,395 3,204,892 3,046,270 Allowance for loan and lease losses on originated and other loans and leases (92,718) (59,300) 3,112,174 2,986,970 Deferred loan costs, net 6,695 5,766 Total originated and other loans loans held for investment, net 3,118,869 2,992,736 Acquired loans: Acquired BBVAPR loans: Accounted for under ASC 310-20 (Loans with revolving feature and/or acquired at a premium) Commercial 4,380 5,562 Consumer 28,915 32,862 Auto 21,969 53,026 55,264 91,450 Allowance for loan and lease losses on acquired BBVAPR loans accounted for under ASC 310-20 (3,862) (4,300) 51,402 87,150 Accounted for under ASC 310-30 (Loans acquired with deteriorated credit quality, including those by analogy) Mortgage 532,053 569,253 Commercial 243,092 292,564 Consumer 1,431 4,301 Auto 43,696 85,676 820,272 951,794 Allowance for loan and lease losses on acquired BBVAPR loans accounted for under ASC 310-30 (45,755) (31,056) 774,517 920,738 Total acquired BBVAPR loans, net 825,919 1,007,888 Acquired Eurobank loans: Loans secured by 1-4 family residential properties 69,538 73,018 Commercial 53,793 81,460 Consumer 1,112 1,372 Total acquired Eurobank loans 124,443 155,850 Allowance for loan and lease losses on Eurobank loans (25,174) (21,281) Total acquired Eurobank loans, net 99,269 134,569 Total acquired loans, net 925,188 1,142,457 Total held for investment, net 4,044,057 4,135,193 Mortgage loans held-for-sale 12,272 12,499 Total loans, net $ 4,056,329 $ 4,147,692 Originated and Other Loans and Leases Held for Investment Oriental’s originated and other loans held for investment are encompassed within four portfolio segments: mortgage, commercial, consumer, and auto and leasing. The following tables present the aging of the recorded investment in gross originated and other loans held for investment a t December 31 , 2017 and 2016 , by class of loans. Mortgage loans past due include delinquent loans in the GNMA buy-back option program. Servicers of loans underlying GNMA mortgage-backed securities must report as their own assets the defaulted loans that they have the option (but not the obligation) to repurchase, even when they elect not to exercise that option . December 31, 2017 Loans 90+ Days Past Due and 30-59 Days 60-89 Days 90+ Days Total Past Still Past Due Past Due Past Due Due Current Total Loans Accruing (In thousands) Mortgage Traditional (by origination year): Up to the year 2002 $ 86 $ 938 $ 3,537 $ 4,561 $ 41,579 $ 46,140 $ 467 Years 2003 and 2004 92 1,077 6,304 7,473 75,758 83,231 - Year 2005 101 383 3,348 3,832 40,669 44,501 68 Year 2006 242 604 5,971 6,817 55,966 62,783 66 Years 2007, 2008 and 2009 358 1,258 8,561 10,177 58,505 68,682 577 Years 2010, 2011, 2012, 2013 233 978 7,393 8,604 116,674 125,278 1,202 Years 2014, 2015, 2016 and 2017 - 75 1,649 1,724 121,194 122,918 - 1,112 5,313 36,763 43,188 510,345 553,533 2,380 Non-traditional - 326 3,543 3,869 14,401 18,270 - Loss mitigation program 7,233 3,331 18,923 29,487 73,793 103,280 4,981 8,345 8,970 59,229 76,544 598,539 675,083 7,361 Home equity secured personal loans - - - - 256 256 - GNMA's buy-back option program - - 8,268 8,268 - 8,268 - 8,345 8,970 67,497 84,812 598,795 683,607 7,361 Commercial Commercial secured by real estate: Corporate - - - - 235,426 235,426 - Institutional - - 118 118 44,648 44,766 - Middle market 765 - 3,527 4,292 225,649 229,941 - Retail 352 936 9,695 10,983 235,084 246,067 - Floor plan - - - - 3,998 3,998 - Real estate - - - - 17,556 17,556 - 1,117 936 13,340 15,393 762,361 777,754 - Other commercial and industrial: Corporate - - - - 170,015 170,015 - Institutional - - - - 125,591 125,591 - Middle market - - 881 881 84,482 85,363 - Retail 455 103 1,616 2,174 111,078 113,252 - Floor plan 9 - 51 60 35,226 35,286 - 464 103 2,548 3,115 526,392 529,507 - 1,581 1,039 15,888 18,508 1,288,753 1,307,261 - December 31, 2017 Loans 90+ Days Past Due and 30-59 Days 60-89 Days 90+ Days Total Past Still Past Due Past Due Past Due Due Current Total Loans Accruing (In thousands) Consumer Credit cards $ 246 $ 130 $ 1,227 $ 1,603 $ 26,827 $ 28,430 $ - Overdrafts 20 6 31 57 157 214 - Personal lines of credit 259 54 87 400 1,820 2,220 - Personal loans 3,778 1,494 223 5,495 278,982 284,477 - Cash collateral personal loans 103 59 312 474 14,224 14,698 - 4,406 1,743 1,880 8,029 322,010 330,039 - Auto and leasing 21,760 10,399 4,232 36,391 847,594 883,985 - Total $ 36,092 $ 22,151 $ 89,497 $ 147,740 $ 3,057,152 $ 3,204,892 $ 7,361 December 31, 2016 Loans 90+ Days Past Due and 30-59 Days 60-89 Days 90+ Days Total Past Still Past Due Past Due Past Due Due Current Total Loans Accruing (In thousands) Mortgage Traditional (by origination year): Up to the year 2002 $ 196 $ 2,176 $ 3,371 $ 5,743 $ 44,542 $ 50,285 $ 158 Years 2003 and 2004 156 3,872 7,272 11,300 79,407 90,707 - Year 2005 - 1,952 4,306 6,258 43,751 50,009 - Year 2006 506 2,905 6,261 9,672 59,628 69,300 - Years 2007, 2008 and 2009 409 1,439 11,732 13,580 63,149 76,729 398 Years 2010, 2011, 2012, 2013 349 1,772 10,417 12,538 127,322 139,860 583 Years 2014, 2015 and 2016 47 123 1,357 1,527 106,672 108,199 - 1,663 14,239 44,716 60,618 524,471 585,089 1,139 Non-traditional - 498 4,730 5,228 17,631 22,859 - Loss mitigation program 8,911 7,205 16,541 32,657 70,871 103,528 1,724 10,574 21,942 65,987 98,503 612,973 711,476 2,863 Home equity secured personal loans - - - - 337 337 - GNMA's buy-back option program - - 9,681 9,681 - 9,681 - 10,574 21,942 75,668 108,184 613,310 721,494 2,863 Commercial Commercial secured by real estate: Corporate - - - - 242,770 242,770 - Institutional - - 254 254 26,546 26,800 - Middle market - 60 3,319 3,379 231,602 234,981 - Retail 154 350 6,594 7,098 242,630 249,728 - Floor plan - - - - 2,989 2,989 - Real estate - - - - 16,395 16,395 - 154 410 10,167 10,731 762,932 773,663 - Other commercial and industrial: Corporate - - - - 136,438 136,438 - Institutional - - - - 180,285 180,285 - Middle market - - - - 81,633 81,633 - Retail 930 100 969 1,999 71,706 73,705 - Floor plan 8 - 61 69 32,073 32,142 - 938 100 1,030 2,068 502,135 504,203 - 1,092 510 11,197 12,799 1,265,067 1,277,866 - December 31, 2016 Loans 90+ Days Past Due and 30-59 Days 60-89 Days 90+ Days Total Past Still Past Due Past Due Past Due Due Current Total Loans Accruing (In thousands) Consumer Credit cards $ 527 $ 283 $ 525 $ 1,335 $ 25,023 $ 26,358 $ - Overdrafts 16 12 5 33 174 207 - Personal lines of credit 41 4 32 77 2,327 2,404 - Personal loans 2,474 1,489 1,081 5,044 241,228 246,272 - Cash collateral personal loans 240 20 4 264 15,010 15,274 - 3,298 1,808 1,647 6,753 283,762 290,515 - Auto and leasing 42,714 19,014 8,173 69,901 686,494 756,395 - Total $ 57,678 $ 43,274 $ 96,685 $ 197,637 $ 2,848,633 $ 3,046,270 $ 2,863 At December 31 , 2017 and 2016 , Oriental had carryin g balance of $ 94.9 million and $ 136.6 million, respectively, in originated and other loans held for investment granted to the Puerto Rico government, including its instrumentalities, public corporations and municipalities as part of the institutional commercial loan segment. All originated and other loans granted to the Puerto Rico government are general obligations of municipalities secured by ad valorem taxation, without limitation as to r ate or amount, on all taxable property within the issuing municipalities. The good faith, credit and unlimited taxing power of each issuing municipality are pledged for the payme nt of its general obligations. I n 2017, Oriental s old a performing originated municipal loan, which was due in July 2018, for $ 28.8 million. The sale reduced near-term risk associated with a likely refinancing. Acquired Loans Acquired loans were initially measured at fair value and subsequently accounted for under either ASC 310-30 or ASC 310-20 (Non-refundable fees and Other Costs). We have acquired loans in two acquisitions, BBVAPR and Eurobank. Acquired BBVAPR Loans Accounted for under ASC 310-20 (Loans with revolving feature and/or acquired at a premium) Cre dit cards, retail and commercial revolving lines of credits, floor plans and performing auto loans with FICO scores over 660 acquired at a premium are accounted for under the guidance of ASC 310-20, which requires that any contractually required loan payme nt receivable in excess of Oriental ’s initial investment in the loans be accreted into interest income on a level-yield basis over the life of the loan. Loans accounted for under ASC 310-20 are placed on non-accrual status when past due in accordance with Oriental ’s non-accrual policy, and any accretion of discount or amortization of premium is discontinued. Acquired BBVAPR loans that were accounted for under the provisions of ASC 310-20 are removed from the acquired loan category at the end of the reportin g period upon refinancing, renewal or normal re-underwriting. The following tables present the aging of the recorded investment in gross acquired BBVAPR loans accounted for under ASC 310-20 as of December 31 , 2017 and 2016 , by class of loans: December 31, 2017 Loans 90+ Days Past Due and 30-59 Days 60-89 Days 90+ Days Total Past Still Past Due Past Due Past Due Due Current Total Loans Accruing (In thousands) Commercial Commercial secured by real estate Retail $ - $ - $ 119 $ 119 $ - $ 119 $ - Floor plan - - 928 928 393 1,321 - - - 1,047 1,047 393 1,440 - Other commercial and industrial Retail 36 - 221 257 2,681 2,938 - Floor plan - - 2 2 - 2 - 36 - 223 259 2,681 2,940 - 36 - 1,270 1,306 3,074 4,380 - Consumer Credit cards 208 127 1,310 1,645 24,822 26,467 - Personal loans 139 61 45 245 2,203 2,448 - 347 188 1,355 1,890 27,025 28,915 - Auto 602 248 179 1,029 20,940 21,969 - Total $ 985 $ 436 $ 2,804 $ 4,225 $ 51,039 $ 55,264 $ - December 31, 2016 Loans 90+ Days Past Due and 30-59 Days 60-89 Days 90+ Days Total Past Still Past Due Past Due Past Due Due Current Total Loans Accruing (In thousands) Commercial Commercial secured by real estate Retail $ 33 $ - $ 110 $ 143 $ - $ 143 $ - Floor plan - - 219 219 2,171 2,390 - 33 - 329 362 2,171 2,533 - Other commercial and industrial Retail 97 34 121 252 2,775 3,027 - Floor plan - - 2 2 - 2 - 97 34 123 254 2,775 3,029 - 130 34 452 616 4,946 5,562 - Consumer Credit cards 736 369 708 1,813 28,280 30,093 - Personal loans 48 14 120 182 2,587 2,769 - 784 383 828 1,995 30,867 32,862 - Auto 3,652 1,355 517 5,524 47,502 53,026 - Total $ 4,566 $ 1,772 $ 1,797 $ 8,135 $ 83,315 $ 91,450 $ - Acquired BBVAPR Loans Accounted for under ASC 310-30 (including those accounted for under ASC 310-30 by analogy) Acquired BBVAPR loans, except for credit cards, retail and commercial revolving lines of credits, floor plans and performing auto loans with FICO scores over 660 acquired at a premium, are accounted for by Oriental in accordance with ASC 310-30. The carrying amount corresponding to acquired BBVAPR loans with deteriorated credit quality, including those accounted under ASC 310-30 by analogy, in the statements of financial condition at December 31 , 2017 and 2016 is as follows: December 31, 2017 2016 (In thousands) Contractual required payments receivable: $ 1,481,616 $ 1,669,602 Less: Non-accretable discount 352,431 363,107 Cash expected to be collected 1,129,185 1,306,495 Less: Accretable yield 308,913 354,701 Carrying amount, gross 820,272 951,794 Less: allowance for loan and lease losses 45,755 31,056 Carrying amount, net $ 774,517 $ 920,738 At December 31 , 2017 and 2016 , Oriental ha d $ 50.3 millio n and $ 66.2 million, respectively, in loans granted to the Puerto Rico government, including its instrumentalities, public corporations and municipalities as part of its acquired BBVAPR loans accounted for under ASC 310-30. These loans are primarily secure d municipal general obligations and funds recovered under a Puerto Rico escheat law. During of 2017, Oriental received the scheduled payments of principal from the municipal general obligations and settled the loan payable from funds recovered under the escheat law that was in default. T he following tables describe the accretable yield and non-accretable discount activity of acquired BBVAPR loans accounted for under ASC 310-3 0 for the years ended December 31 , 2017 , 2016 and 2015 Year Ended December 31, 2017 Mortgage Commercial Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of year $ 292,115 $ 50,366 $ 8,538 $ 3,682 $ 354,701 Accretion (30,205) (20,572) (6,339) (1,841) (58,957) Change in expected cash flows 2 22,250 170 143 22,565 Transfer (to) from non-accretable discount (3,414) (5,280) 397 (1,099) (9,396) Balance at end of year $ 258,498 $ 46,764 $ 2,766 $ 885 $ 308,913 Non-Accretable Discount Activity: Balance at beginning of year $ 305,615 $ 16,965 $ 22,407 $ 18,120 $ 363,107 Change in actual and expected losses (9,528) (11,649) 1,040 65 (20,072) Transfer from (to) accretable yield 3,414 5,280 (397) 1,099 9,396 Balance at end of year $ 299,501 $ 10,596 $ 23,050 $ 19,284 $ 352,431 Year Ended December 31, 2016 Mortgage Commercial Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of year $ 268,794 $ 65,026 $ 21,578 $ 6,290 $ 361,688 Accretion (32,834) (26,254) (13,567) (2,982) (75,637) Change in actual and expected losses (1) 14,259 1,251 (242) 15,267 Transfer from (to) non-accretable discount 56,156 (2,665) (724) 616 53,383 Balance at end of year $ 292,115 $ 50,366 $ 8,538 $ 3,682 $ 354,701 Non-Accretable Discount Activity: Balance at beginning of year $ 374,772 $ 18,545 $ 22,039 $ 18,834 $ 434,190 Change in actual and expected losses (13,001) (4,245) (356) (98) (17,700) Transfer (to) from accretable yield (56,156) 2,665 724 (616) (53,383) Balance at end of year $ 305,615 $ 16,965 $ 22,407 $ 18,120 $ 363,107 Year Ended December 31, 2015 Mortgage Commercial Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of year $ 298,364 $ 87,025 $ 53,998 $ 6,559 $ 445,946 Accretion (34,842) (49,429) (23,463) (4,379) (112,113) Change in actual and expected losses - 8,532 - (1) 8,531 Transfer (to) from non-accretable discount 5,272 18,898 (8,957) 4,111 19,324 Balance at end of year $ 268,794 $ 65,026 $ 21,578 $ 6,290 $ 361,688 Non-Accretable Discount Activity: Balance at beginning of year $ 389,839 $ 26,555 $ 16,215 $ 24,018 $ 456,627 Change in actual and expected losses (9,795) 10,888 (3,133) (1,073) (3,113) Transfer from (to) accretable yield (5,272) (18,898) 8,957 (4,111) (19,324) Balance at end of year $ 374,772 $ 18,545 $ 22,039 $ 18,834 $ 434,190 Acquired Eurobank Loans The carrying amount of acquired Eurobank loans at December 31 , 2017 and 2016 is as follows: December 31 2017 2016 (In thousands) Contractual required payments receivable: $ 179,960 $ 232,698 Less: Non-accretable discount 5,845 12,340 Cash expected to be collected 174,115 220,358 Less: Accretable yield 49,672 64,508 Carrying amount, gross 124,443 155,850 Less: Allowance for loan and lease losses 25,174 21,281 Carrying amount, net $ 99,269 $ 134,569 The following tables describe the accretable yield and non-accretable discount activity of acquired Eurobank loans for the years ended December 31 , 2017 , 2016 and 2015 : Year Ended December 31, 2017 Loans Secured by 1-4 Family Residential Properties Commercial Construction & Development Secured by 1-4 Family Residential Properties Leasing Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of year $ 45,839 $ 16,475 $ 2,194 $ - $ - $ 64,508 Accretion (7,180) (12,985) (82) (30) (283) (20,560) Change in expected cash flows 121 1,881 121 (217) 759 2,665 Transfer from (to) non-accretable discount 2,694 1,380 (786) 247 (476) 3,059 Balance at end of year $ 41,474 $ 6,751 $ 1,447 $ - $ - $ 49,672 Non-Accretable Discount Activity: Balance at beginning of year $ 8,441 $ 3,880 $ 11 $ - $ 8 $ 12,340 Change in actual and expected losses (1,171) (2,224) (39) 247 (249) (3,436) Transfer from (to) accretable yield (2,694) (1,380) 786 (247) 476 (3,059) Balance at end of year $ 4,576 $ 276 $ 758 $ - $ 235 $ 5,845 Year Ended December 31, 2016 Loans Secured by 1-4 Family Residential Properties Commercial Construction & Development Secured by 1-4 Family Residential Properties Leasing Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of year $ 51,954 $ 26,970 $ 2,255 - $ 3,212 $ 84,391 Accretion (8,942) (19,593) (90) (60) (1,813) (30,498) Change in actual and expected losses 2,134 13,722 1 (15) (1,386) 14,456 Transfer from (to) non-accretable discount 693 (4,624) 28 75 (13) (3,841) Balance at end of year $ 45,839 $ 16,475 $ 2,194 $ - $ - $ 64,508 Non-Accretable Discount Activity: Balance at beginning of year $ 12,869 $ - $ - $ - $ 8,287 $ 21,156 Change in actual and expected losses (3,735) (744) 39 75 (8,292) (12,657) Transfer (to) from accretable yield (693) 4,624 (28) (75) 13 3,841 Balance at end of year $ 8,441 $ 3,880 $ 11 $ - $ 8 $ 12,340 Year Ended December 31, 2015 Loans Secured by 1-4 Family Residential Properties Commercial Construction & Development Secured by 1-4 Family Residential Properties Leasing Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of year $ 47,636 $ 37,920 $ 20,753 $ 2,479 $ 1,071 $ 109,859 Accretion (13,685) (32,124) (2,513) (3,458) (631) (52,411) Change in expected cash flows 4,631 44,660 (15,048) (51) 305 34,497 Transfer from (to) non-accretable discount 13,372 (23,486) (937) 1,030 2,467 (7,554) Balance at end of year $ 51,954 $ 26,970 $ 2,255 $ - $ 3,212 $ 84,391 Non-Accretable Discount Activity: Balance at beginning of year $ 27,348 $ 24,464 $ - $ - $ 10,598 $ 62,410 Change in actual and expected cash flows (1,107) (47,950) (937) 1,030 156 (48,808) Transfer (to) from accretable yield (13,372) 23,486 937 (1,030) (2,467) 7,554 Balance at end of year $ 12,869 $ - $ - $ - $ 8,287 $ 21,156 Non-accrual Loans The following table presents the recorded investment in loans in non-accrual status by class of loans as of December 31 , 2017 and 2016 : December 31, 2017 2016 (In thousands) Originated and other loans and leases held for investment Mortgage Traditional (by origination year): Up to the year 2002 $ 3,070 $ 3,336 Years 2003 and 2004 6,380 7,668 Year 2005 3,280 4,487 Year 2006 5,905 6,746 Years 2007, 2008 and 2009 7,984 11,526 Years 2010, 2011, 2012, 2013 6,259 10,089 Years 2014, 2015, 2016 and 2017 1,649 1,404 34,527 45,256 Non-traditional 3,543 4,730 Loss mitigation program 16,783 20,744 54,853 70,730 Commercial Commercial secured by real estate Institutional 118 - Middle market 11,394 4,682 Retail 14,438 11,561 25,950 16,243 Other commercial and industrial Middle market 6,323 1,278 Retail 2,929 1,950 Floor plan 51 61 9,303 3,289 35,253 19,532 Consumer Credit cards 1,227 525 Overdrafts 31 - Personal lines of credit 102 32 Personal loans 900 1,420 Cash collateral personal loans 312 4 2,572 1,981 Auto and leasing 4,232 9,052 Total non-accrual originated loans $ 96,910 $ 101,295 December 31, 2017 2016 (In thousands) Acquired BBVAPR loans accounted for under ASC 310-20 Commercial Commercial secured by real estate Retail $ 119 $ 143 Floor plan 928 1,149 1,047 1,292 Other commercial and industrial Retail 221 121 Floor plan 2 2 223 123 1,270 1,415 Consumer Credit cards 1,310 708 Personal loans 45 120 1,355 828 Auto 179 552 Total non-accrual acquired BBVAPR loans accounted for under ASC 310-20 2,804 2,795 Total non-accrual loans $ 99,714 $ 104,090 Loans accounted for under ASC 310-30 are excluded from the above table as they are considered to be performing due to the application of the accretion method, in which these loans will accrete interest income over the remaining life of the loans using estimated cash flow analyses or are accounted under the cost recovery method. Delinquent residential mortgage loans insured or guaranteed under applicable FHA and VA programs are classified as non-performing loans when they become 90 days or more past due , but are not placed in non-accrual status until they become 1 2 months or more past due, since they are insured loans. Therefore, these loans are included as non-performing loans but excluded from non-accrual loans. In addition, these loans are excluded fr om the impairment analysis. At December 31 , 2017 and 2016 , loans whose terms have been extended and which are classified as troubled-debt restructurings that are not included in non- accrual loans amounted to $ 109.2 million and $ 98 .1 million, respectiv ely, as they are performing under their new terms. Impaired Loans Oriental evaluates all loans, some individually and others as homogeneous groups, for purposes of determining impairment. The total investment in impaired commercial loans that were individually evaluated for impairment was $ 72 .3 million and $ 54.3 million at December 31 , 2017 and 2016 , respectively. The impairments on these commercial loans were measured based on the fair value of collateral or the present value of cash flows, including those identified as troubled-debt restructurings . The allowance for loan and lease losses for these impaired commercial loans amounted to $ 10.6 million and $ 1.8 million at December 31 , 2017 and 2016 , respectively. The total investment in impaired mortgage loans that were individually evaluated for imp airment was $ 85 .4 million and $ 91.6 million at December 31 , 2017 and 2016 , respectively. Impairment on mortgage loans assessed as troubled-debt restructurings was measured using the present value of cash flows. The allowance for loan losses for these i mpaired mortgage loans amounted to $ 9.1 million and $ 7.8 million at December 31 , 2017 and 2016 , respectively. Originated and Other Loans and Leases Held for Investment Oriental ’s recorded investment in commercial and mortgage loans categorized as originated and other loans and leases held for investment that were individually evaluated for impairment and the related allowance for loan and lease losses at December 31 , 2017 and 2016 are as follows: December 31, 2017 Unpaid Recorded Related Principal Investment Allowance Coverage (In thousands) Impaired loans with specific allowance: Commercial $ 57,922 $ 52,585 $ 10,573 20% Residential impaired and troubled-debt restructuring 94,971 85,403 9,121 11% Impaired loans with no specific allowance: Commercial 22,022 18,953 N/A 0% Total investment in impaired loans $ 174,915 $ 156,941 $ 19,694 13% December 31, 2016 Unpaid Recorded Related Principal Investment Allowance Coverage (In thousands) Impaired loans with specific allowance: Commercial $ 13,183 $ 11,698 $ 1,626 14% Residential impaired and troubled-debt restructuring 100,101 91,650 7,761 8% Impaired loans with no specific allowance Commercial 49,038 41,441 N/A 0% Total investment in impaired loans $ 162,322 $ 144,789 $ 9,387 6% Acquired BBVAPR Loans Accounted for under ASC 310-20 (Loans with revolving feature and/or acquired at a premium) Oriental ’s recorded investment in acquired BBVAPR commercial loans accounted for under ASC 310-20 that were individually evaluated for impairment and the related allowance for loan and lease losses at December 31 , 2017 and 2016 are as follows: December 31, 2017 Unpaid Recorded Related Principal Investment Allowance Coverage (In thousands) Impaired loans with specific allowance Commercial $ 926 $ 747 $ 20 3% Impaired loans with no specific allowance Commercial $ - $ - N/A 0% Total investment in impaired loans $ 926 $ 747 $ 20 3% December 31, 2016 Unpaid Recorded Specific Principal Investment Allowance Coverage (In thousands) Impaired loans with specific allowance Commercial $ 944 $ 929 $ 141 15% Impaired loans with no specific allowance Commercial $ 240 $ 221 N/A 0% Total investment in impaired loans $ 1,184 $ 1,150 $ 141 12% Acquired BBVAPR Loans Accounted for under ASC 310-30 (including those accounted for under ASC 310-30 by analogy) Oriental ’s recorded investment in acquired BBVAPR loan pools accounted for under ASC 310-30 that have recorded impairments and their related allowance for loan and lease losses at December 31 , 2017 and 2016 are as follows : December 31, 2017 Coverage Unpaid Recorded to Recorded Principal Investment Allowance Investment (In thousands) Impaired loan pools with specific allowance: Mortgage $ 547,064 $ 532,052 $ 14,085 3% Commercial 250,451 241,124 23,691 10% Consumer 2,468 1,431 18 1% Auto 43,440 43,696 7,961 18% Total investment in impaired loan pools $ 843,423 $ 818,303 $ 45,755 6% December 31 , 2016 Coverage Unpaid Recorded to Recorded Principal Investment Allowance Investment (In thousands) Impaired loan pools with specific allowance: Mortgage $ 595,757 $ 569,250 $ 2,682 0% Commercial 199,092 195,528 23,452 12% Auto 92,797 85,676 4,922 6% Total investment in impaired loan pools $ 887,646 $ 850,454 $ 31,056 4% The tables above only present information with respect to acquired BBVAPR loan pools accounted for under ASC 310-30 if there is a recorded impairment to such loan pools and a specific allowance for loan losses. Acquired Eurobank Loans Oriental ’s recorded investment in acquired Eurobank loan pools that have recorded impairments and their related allowance for loan and lease losses as of December 31 , 2017 and 2016 are as follows : December 31, 2017 Coverage Unpaid Recorded to Recorded Principal Investment Allowance Investment (In thousands) Impaired loan pools with specific allowance: Loans secured by 1-4 family residential properties $ 81,132 $ 69,538 $ 15,187 22% Commercial 58,099 53,793 9,982 19% Consumer 15 4 5 125% Total investment in impaired loan pools $ 139,246 $ 123,335 $ 25,174 20% December 31, 2016 Coverage Unpaid Recorded Specific to Recorded Principal Investment Allowance Investment (In thousands) Impaired loan pools with specific allowance Loans secured by 1-4 family residential properties $ 88,017 $ 73,018 $ 11,947 16% Commercial 81,992 72,140 9,328 13% Consumer 29 1,372 6 0% Total investment in impaired loan pools $ 170,038 $ 146,530 $ 21,281 15% The tables above only present information with respect to acquired Eurobank loan pools accounted for under ASC 310-30 if there is a recorded impairment to such loan pools and a specific allowance for loan losses. The following table presents the interest recognized in commercial and mortgage loans that were individually evaluated for impairment, which excludes loans accounted for under ASC 310-30, for the years ended December 31 , 2017 , 2016 and 2015 : Year Ended December 31, 2017 2016 2015 Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment (In thousands) Originated and other loans held for investment: Impaired loans with specific allowance Commercial $ 1,538 $ 25,797 $ 452 $ 118,980 $ 280 $ 175,115 Residential troubled-debt restructuring 3,301 87,414 3,190 91,139 3,219 90,736 Impaired loans with no specific allowance Commercial 875 36,666 1,941 40,443 1,350 64,356 Total interest income from impaired loans $ 5,714 $ 149,877 $ 5,583 $ 250,562 $ 4,849 $ 330,207 Acquired loans accounted for under ASC 310-20: Impaired loans with specific allowance Commercial $ - $ 794 $ - $ 319 $ - $ - Impaired loans with no specific allowance Commercial - - - 608 - - Total interest income from impaired loans $ 5,714 $ 150,671 $ 5,583 $ 251,489 $ 4,849 $ 330,207 Modifications The following tables present the troubled-debt restructurings in all loan portfolios during the years ended December 31 , 2017 , 2016 and 2015 . Year Ended December 31, 2017 Number of contracts Pre-Modification Outstanding Recorded Investment Pre-Modification Weighted Average Rate Pre-Modification Weighted Average Term (in Months) Post-Modification Outstanding Recorded Investment Post-Modification Weighted Average Rate Post-Modification Weighted Average Term (in Months) (Dollars in thousands) Mortgage 85 $ 10,441 6.23% 390 $ 10,343 4.40% 384 Commercial 24 13,828 6.05% 57 13,829 5.73% 62 Consumer 107 1,391 11.68% 62 1,430 10.85% 69 Auto 9 134 7.24% 66 135 11.75% 37 Year Ended December 31, 2016 Number of contracts Pre-Modification Outstanding Recorded Investment Pre-Modification Weighted Average Rate Pre-Modification Weighted Average Term (in Months) Post-Modification Outstanding Recorded Investment Post-Modification Weighted Average Rate Post-Modification Weighted Average Term (in Months) (Dollars in thousands) Mortgage 90 $ 11,684 6.05% 351 $ 11,625 4.77% 439 Commercial 20 9,833 5.73% 64 10,151 5.93% 116 Consumer 75 817 13.60% 73 902 11.23% 66 Year Ended December 31, 2015 Number of contracts Pre-Modification Outstanding Recorded Investment Pre-Modification Weighted Average Rate Pre-Modification Weighted Average Term (in Months) Post-Modification Outstanding Recorded Investment Post-Modification Weighted Average Rate Post-Modification Weighted Average Term (in Months) (Dollars in thousands) Mortgage 160 $ 21,053 5.42% 356 $ 21,182 4.35% 272 Commercial 9 5,664 6.79% 66 13,174 4.57% 56 Consumer 64 611 13.85% 71 898 13.43% 60 Auto 5 130 10.51% 65 131 10.87% 61 The following table presents troubled-debt restructurings for which there was a payment default during the years ended 2017 , 2016 and 2015 : Year Ended December 31, 2017 2016 2015 Number of Contracts Recorded Investment Number of Contracts Recorded Investment Number of Contracts Recorded Investment (Dollars in thousands) Mortgage 34 $ 3,129 19 $ 2,241 65 $ 7,387 Commercial 5 $ 452 2 $ 157 - $ - Consumer 20 $ 249 11 $ 126 8 $ 177 Auto - $ - - $ - 1 $ 64 Credit Quality Indicators Oriental categorizes originated and other loans and acquired loans accounted for under ASC 310-20 into risk categories based on relevant information about the ability of borrowers to service their debt, such as economic conditions, portfolio risk characteristics, prior loss experience, and the results of periodic credit reviews of individual loans. Oriental uses the following definitions for risk ratings: Pass: Loans classified as “pass” have a well-defined primary s ource of repayment very likely to be sufficient, with no apparent risk, strong financial position, minimal operating risk, profitability, liquidity and capitalization better than industry standards . Special Mention: Loans classified as “special mention” h ave a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position |
Allowance for Loan and Lease Lo
Allowance for Loan and Lease Losses | 12 Months Ended |
Dec. 31, 2017 | |
Allowance for loan and lease losses [Abstract] | |
Allowance For Credit Losses Text Block | NOTE 7 – ALLOWANCE FOR LOAN AND LEASE LOSSES The composition of Oriental ’s allowance for loan and lease losses at December 31 , 2017 and 2016 was as follows : December 31, 2017 2016 (In thousands) Allowance for loans and lease losses: Originated and other loans and leases held for investment: Mortgage $ 20,439 $ 17,344 Commercial 30,258 8,995 Consumer 16,454 13,067 Auto and leasing 25,567 19,463 Unallocated - 431 Total allowance for originated and other loans and lease losses 92,718 59,300 Acquired BBVAPR loans: Accounted for under ASC 310-20 (Loans with revolving feature and/or acquired at a premium) Commercial 42 169 Consumer 3,225 3,028 Auto 595 1,103 3,862 4,300 Accounted for under ASC 310-30 (Loans acquired with deteriorated credit quality, including those by analogy) Mortgage 14,085 2,682 Commercial 23,691 23,452 Consumer 18 - Auto 7,961 4,922 45,755 31,056 Total allowance for acquired BBVAPR loans and lease losses 49,617 35,356 Acquired Eurobank loans: Loans secured by 1-4 family residential properties 15,187 11,947 Commercial 9,982 9,328 Consumer 5 6 Total allowance for acquired Eurobank loan and lease losses 25,174 21,281 Total allowance for loan and lease losses $ 167,509 $ 115,937 Oriental maintains an allowance for loan and lease losses at a level that management considers adequate to provide for probable losses based upon an evaluation of known and inherent risks. Oriental’s allowance for loan and lease losses policy provides for a detailed quarterly analysis of probable losses. The analysis includes a review of historical loan loss experience, value of underlying collateral, current economic conditions, financial condition of borrowers and other pertinent factors. While managemen t uses available information in estimating probable loan losses, future additions to the allowance may be required based on factors beyond Oriental’s control. We also maintain an allowance for loan losses on acquired loans when: (i) for loans accounted for under ASC 310-30, there is deterioration in credit quality subsequent to acquisition, and (ii) for loans accounted for under ASC 310-20, the inherent losses in the loans exceed the remaining credit discount recorded at the time of acquisition. As discuss ed in Note 2, during 2017, hurricanes Irma and Maria caused catastrophic damages throughout Puerto Rico. Although the effect of the hurricanes on Oriental's loan portfolio is difficult to predict at this time, management performed an evaluation of the loan portfolios in order to assess the impact on repayment sources and underlying collateral that could result in additional losses. For the commercial portfolio, the framework for the analysis was based on our current ALLL methodology with additional conside rations according to the estimated impact categorized as low, medium or high. From this impact assessment, additional reserve levels were estimated by increasing default probabilities (“PD”) and loss given default expectations (“LGD”) of each allowance seg ment. As part of the process, Oriental contacted its clients to evaluate the impact of the hurricanes on their business operations and collateral. The impact was then categorized as follows: (i) low risk, for clients that had no business impact or relativ ely insignificant impact; (ii) medium risk, for clients that had a business impact on their primary or secondary sources of repayment, but had adequate cash flow to cover operations and to satisfy their obligations; or (iii) high risk, for clients that had potentially significant problems that affected primary, secondary and tertiary (collateral) sources of repayment. This criterion was used to model adjusted PDs and LGDs considering internal and external sources of information available to support our esti mation process and output. During the fourth quarter, Oriental performed an update of the initial estimate, taking into consideration the most recent available information gathered through additional visits and interviews with clients and the economic e nvironment in Puerto Rico. For the retail portfolios, mortgage, consumer and auto, the assumptions established in the initial estimate were based on the historical losses of each ALLL segment and then further adjusted based on parameters used as key risk indicators, such as the industry of employment for all portfolios and the location of the collateral for mortgage loans. During the fourth quarter of 2017, Oriental performed additional procedures to evaluate the reasonability of the initial estimate based on the payment experience % of borrowers for which the deferral period expired. The analysis took into consideration historical payment behavior and loss experience of borrowers (PDs and LGDs) of each portfolio segment to develop a range of estimated pote ntial losses. Management understands that this approach is reasonable given the lack of historical information related to the behavior of local borrowers in such an unprecedented event. The amount used in the analysis represents the average of potential ou tcomes of expected losses. The documentation for the assessments considers all information available at the moment. Oriental will continue to assess the impact to our customers and our businesses as a result of the hurricanes and refine our estimates as more information becomes available. Based on the analysis above and in accordance with ASC 450-20-25-2, we have increased our provision for loan losses during 2017 for $ 32.4 million. The increase in the allowance corresponding to our originated loan port folio was $ 17.5 million: $ 3.8 million in mortgage loans, $ 7.3 million in commercial loans, $ 1.7 million in consumer loans, and $ 4.7 million in auto loans. The increase in the allowance corresponding to our acquired loan portfolio was $ 14.9 million: $ 6.7 mi llion in mortgage loans, $ 7.9 million in commercial loans, and $ 0.3 million in auto loans. The documentation for the assessments considers all information available at the moment; gathered through visits or interviews with our clients, inspections of co llaterals, identification of most affected areas and industries. Oriental will continue to assess the impact to our customers and our businesses as a result of the hurricanes and refine our estimates as more information becomes available. As part of Orien tal’s continuous enhancement to the allowance for loan and lease losses methodology, and taking into consideration the effect of the hurricanes, during 2017 the following assumptions were reviewed: An assessment of the look-back period and historical loss factor was performed for all portfolio segments. The analysis was based on the trends observed and their relation with the economic cycle as of the period of the analysis. As a result of the assessment, the commercial portfolio look-back period was mainta ined at 36 months. Also, for the auto, leasing and consumer portfolios, a look-back period of 24 months was maintained. For the residential mortgages portfolio a 12-month look-back period was maintained as management concluded that, given the charge off ev olution, a shorter period of losses is more representative of the recent trends and more accurate in predicting future losses. During the fourth quarter of 2017, an assessment of environmental factors was performed for commercial, auto, and consumer portf olios. As a result, the environmental factors continue to reflect our assessment of their impact to our portfolio, taking into consideration the current evolution of the portfolios and expected impact, due to recent economic developments, changes in values of collateral and delinquencies, among others. During the fourth quarter of 2017, the loss realization period was revised to 2.09 years from 2.10 in 2016 for commercial real estate portfolio, other portfolios remained at one year. These changes in the allowance for loan and lease losses are considered a change in accounting estimate as per ASC 250-10 provisions, where adjustments are made prospectively. Allowance for Originated and Other Loan and Lease Losses Held for Investment The following tables presents the activity in our allowance for loan and lease losses and the related recorded investment of the originated and other loans held for investment portfolio by segment for the periods indicated: Year Ended December 31, 2017 Mortgage Commercial Consumer Auto and Leasing Unallocated Total (In thousands) Allowance for loan and lease losses for originated and other loans: Balance at beginning of year $ 17,344 $ 8,995 $ 13,067 $ 19,463 $ 431 $ 59,300 Charge-offs (6,623) (7,684) (13,641) (33,908) - (61,856) Recoveries 585 1,281 1,209 12,314 - 15,389 Provision (recapture) for loan and lease losses 9,133 27,666 15,819 27,698 (431) 79,885 Balance at end of year $ 20,439 $ 30,258 $ 16,454 $ 25,567 $ - $ 92,718 Year Ended December 31, 2016 Mortgage Commercial Consumer Auto and Leasing Unallocated Total (In thousands) Allowance for loan and lease losses for originated and other loans: Balance at beginning of year $ 18,352 $ 64,791 $ 11,197 $ 18,261 $ 25 $ 112,626 Charge-offs (6,767) (62,445) (11,554) (31,731) - (112,497) Recoveries 330 460 452 12,871 - 14,113 Provision (recapture) for loan and lease losses 5,429 6,189 12,972 20,062 406 45,058 Balance at end of year $ 17,344 $ 8,995 $ 13,067 $ 19,463 $ 431 $ 59,300 Year Ended December 31, 2015 Mortgage Commercial Consumer Auto and Leasing Unallocated Total (In thousands) Allowance for loan and lease losses for originated and other loans: Balance at beginning of year $ 19,679 $ 8,432 $ 9,072 $ 14,255 $ 1 $ 51,439 Charge-offs (5,397) (5,546) (8,683) (33,375) - (53,001) Recoveries 391 432 871 13,158 - 14,852 Provision (recapture) for loan and lease losses 3,679 61,473 9,937 24,223 24 99,336 Balance at end of year $ 18,352 $ 64,791 $ 11,197 $ 18,261 $ 25 $ 112,626 December 31, 2017 Mortgage Commercial Consumer Auto and Leasing Unallocated Total (In thousands) Allowance for loan and lease losses on originated and other loans: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 9,121 $ 10,573 $ - $ - $ - $ 19,694 Collectively evaluated for impairment 11,318 19,685 16,454 25,567 - 73,024 Total ending allowance balance $ 20,439 $ 30,258 $ 16,454 $ 25,567 $ - $ 92,718 Loans: Individually evaluated for impairment $ 85,403 $ 71,538 $ - $ - $ - $ 156,941 Collectively evaluated for impairment 598,204 1,235,723 330,039 883,985 - 3,047,951 Total ending loan balance $ 683,607 $ 1,307,261 $ 330,039 $ 883,985 $ - $ 3,204,892 December 31, 2016 Mortgage Commercial Consumer Auto and Leasing Unallocated Total (In thousands) Allowance for loan and lease losses on originated and other loans: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 7,761 $ 1,626 $ - $ - $ - $ 9,387 Collectively evaluated for impairment 9,583 7,369 13,067 19,463 431 49,913 Total ending allowance balance $ 17,344 $ 8,995 $ 13,067 $ 19,463 $ 431 $ 59,300 Loans: Individually evaluated for impairment $ 91,650 $ 53,139 $ - $ - $ - $ 144,789 Collectively evaluated for impairment 629,844 1,224,727 290,515 756,395 - 2,901,481 Total ending loan balance $ 721,494 $ 1,277,866 $ 290,515 $ 756,395 $ - $ 3,046,270 Allowance for BBVAPR Acquired Loan Losses Loans accounted for under ASC 310-20 (Loans with revolving feature and/or acquired at a premium) The following tables present the activity in our allowance for loan losses and related recorded investment of the associated loans in our BBVAPR acquired loan portfolio accounted for under ASC 310-20, for the periods indicated : Year Ended December 31, 2017 Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Balance at beginning of year $ 169 $ 3,028 $ 1,103 $ 4,300 Charge-offs (132) (3,048) (976) (4,156) Recoveries 5 446 1,420 1,871 Provision (recapture) for acquired BBVAPR loan and lease losses accounted for under ASC 310-20 - 2,799 (952) 1,847 Balance at end of year $ 42 $ 3,225 $ 595 $ 3,862 Year Ended December 31, 2016 Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Balance at beginning of year $ 26 $ 3,429 $ 2,087 $ 5,542 Charge-offs (42) (3,619) (2,155) (5,816) Recoveries 73 301 1,945 2,319 Provision (recapture) for acquired BBVAPR loan and lease losses accounted for under ASC 310-20 112 2,917 (774) 2,255 Balance at end of year $ 169 $ 3,028 $ 1,103 $ 4,300 Year Ended December 31, 2015 Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Balance at beginning of year $ 65 $ 1,211 $ 3,321 $ 4,597 Charge-offs (42) (4,755) (4,548) (9,345) Recoveries 31 680 2,110 2,821 Provision (recapture) for acquired loan and lease losses accounted for under ASC 310-20 (28) 6,293 1,204 7,469 Balance at end of year $ 26 $ 3,429 $ 2,087 $ 5,542 December 31, 2017 Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 20 $ - $ - $ 20 Collectively evaluated for impairment 22 3,225 595 3,842 Total ending allowance balance $ 42 $ 3,225 $ 595 $ 3,862 Loans: Individually evaluated for impairment $ 747 $ - $ - $ 747 Collectively evaluated for impairment 3,633 28,915 21,969 54,517 Total ending loan balance $ 4,380 $ 28,915 $ 21,969 $ 55,264 December 31, 2016 Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 141 $ - $ - $ 141 Collectively evaluated for impairment 28 3,028 1,103 4,159 Total ending allowance balance $ 169 $ 3,028 $ 1,103 $ 4,300 Loans: Individually evaluated for impairment $ 1,150 $ - $ - $ 1,150 Collectively evaluated for impairment 4,412 32,862 53,026 90,300 Total ending loan balance $ 5,562 $ 32,862 $ 53,026 $ 91,450 Loans Accounted for under ASC 310-30 (including those accounted for under ASC 310-30 by analogy) For loans accounted for under ASC 310- 30, as part of the evaluation of actual versus expected cash flows, Oriental assesses on a quarterly basis the credit quality of these loans based on delinquency, severity factors and risk ratings, among other assumptions. Migration and credit quality trends are assessed at the pool level, by comparing information from the latest evaluation period through the end of the reporting period. The following tables present the activity in our allowance for loan losses and related recorded investment of the acquired BBVAPR loan portfolio accounted for under ASC 310-30 for the periods indicated : Year Ended December 31, 2017 Mortgage Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-30: Balance at beginning of year $ 2,682 $ 23,452 $ - $ 4,922 $ 31,056 Provision for BBVAPR loans and lease losses accounted for under ASC 310-30 11,497 9,758 18 3,408 24,681 Allowance de-recognition (94) (9,519) - (369) (9,982) Balance at end of year $ 14,085 $ 23,691 $ 18 $ 7,961 $ 45,755 Year Ended December 31, 2016 Mortgage Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-30: Balance at beginning of year $ 1,762 $ 21,161 $ - $ 2,862 $ 25,785 Provision (recapture) for BBVAPR loans and lease losses accounted for under ASC 310-30 1,105 11,710 - 2,693 15,508 Loan pools fully charged-off (14) (66) - (202) (282) Allowance de-recognition (171) (9,353) - (431) (9,955) Balance at end of year $ 2,682 $ 23,452 $ - $ 4,922 $ 31,056 Year Ended December 31, 2015 Mortgage Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-30: Balance at beginning of year $ 5 13,476 - - 13,481 Provision for BBVAPR loans and lease losses accounted for under ASC 310-30 1,757 12,037 - 2,862 16,656 Loan pools fully charged-off - (4,352) - - (4,352) Balance at end of year $ 1,762 $ 21,161 $ - $ 2,862 $ 25,785 Allowance for Acquired Eurobank Loan Losses The changes in the allowance for loan and lease losses on acquired Eurobank loans for the years ended December 31 , 2017 , 2016 and 2015 were as follows: Year Ended December 31, 2017 Loans Secured by 1-4 Family Residential Properties Commercial Consumer Total (In thousands) Allowance for loan and lease losses for acquired Eurobank loans: Balance at beginning of period $ 11,947 $ 9,328 $ 6 $ 21,281 Provision for covered loan and lease losses, net 5,045 1,680 - 6,725 Allowance de-recognition (1,805) (1,026) (1) (2,832) Balance at end of period $ 15,187 $ 9,982 $ 5 $ 25,174 Year Ended December 31, 2016 Loans Secured by 1-4 Family Residential Properties Commercial Consumer Total (In thousands) Allowance for loan and lease losses for acquired Eurobank loans: Balance at beginning of period $ 22,570 $ 67,365 $ 243 $ 90,178 Provision for covered loan and lease losses, net 1,080 1,183 (8) 2,255 Loan pools fully charged-off - (134) - (134) Allowance de-recognition (15,094) (59,086) (229) (74,409) FDIC shared-loss portion of provision for covered loan and lease losses, net 3,391 - - 3,391 Balance at end of period $ 11,947 $ 9,328 $ 6 $ 21,281 Year Ended December 31, 2015 Loans Secured by 1-4 Family Residential Properties Commercial Consumer Total (In thousands) Allowance for loan and lease losses for acquired Eurobank loans: Balance at beginning of period $ 5,469 $ 58,511 $ 265 $ 64,245 Provision for covered loan and lease losses, net 17,718 $ 20,043 279 38,040 Loan pools fully charged-off (722) (13,587) (301) (14,610) FDIC shared-loss portion of provision for covered loan and lease losses, net 105 2,398 - 2,503 Balance at end of period $ 22,570 $ 67,365 $ 243 $ 90,178 |
FDIC Indemnification Asset and
FDIC Indemnification Asset and True-up Payment Obligation | 12 Months Ended |
Dec. 31, 2017 | |
Banking and Thrift [Abstract] | |
FDIC Indemnification Asset and True-up Payment Obligation [Text Block] | NOTE 8 - FDIC INDEMNIFICATION ASSET, TRUE-UP PAYMENT OBLIGATION, AND FDIC SHARED-LOSS EXPENSE On February 6, 2017, the Bank and the FDIC agreed to terminate the single family and commercial shared-loss agreements related to the FDIC assisted acquisition of Eurobank on April 30, 2010. As part of the loss share termination transaction, the Bank made a payment of $ 10.1 million to the FDIC and recorded a net benefit of $ 1.4 million. Such termination payment took into account the anticipated reimbursements ove r the life of the shared-loss agreements and the true-up payment liability of the Bank anticipated at the end of the ten - year term of the single family shared-loss agreement. All rights and obligations of the parties under the shared-loss agreements termin ated as of the closing date of the agreement. Pursuant to the terms of the shared-loss agreements, the FDIC would reimburse the Bank for 80% of all qualifying losses with respect to assets covered by such agreements, and the Bank would reimburse the FDIC f or 80% of qualifying recoveries with respect to losses for which the FDIC reimbursed the Bank. The single family shared-loss agreement provided for FDIC loss sharing and the Bank’s reimbursem ent to the FDIC to last for ten years, and the commercial shared- loss agreement provided f or FDIC loss sharing and the Bank’s reimbursement to the FDIC to last for five years, with additional recovery sharing for three years thereafter. The following table presents the activity in the FDIC indemnification asset and tru e-up payment obligation for the years ended December 31 , 2017 , 2016 and 2015 : Year Ended December 31, 2017 2016 2015 (In thousands) FDIC indemnification asset: Balance at beginning of year $ 14,411 $ 22,599 $ 97,378 Shared-loss agreements reimbursements from the FDIC - (1,573) (55,723) Increase in expected credit losses to be covered under shared-loss agreements, net - 3,391 2,503 FDIC indemnification asset benefit (expense) 1,403 (8,040) (36,398) Final settlement with the FDIC on commercial loans - - (1,589) Net expenses incurred under shared-loss agreements - (1,966) 16,428 Shared-loss termination settlement (15,814) - - Balance at end of year $ - $ 14,411 $ 22,599 True-up payment obligation: Balance at beginning of year $ 26,786 $ 24,658 $ 21,981 Change in true-up payment obligation - 2,128 2,677 Shared-loss termination settlement (26,786) - - Balance at end of year $ - $ 26,786 $ 24,658 The following table provides the fair value and the undiscounted amount of the true-up payment obligation at December 31 , 2016 : December 31, 2017 2016 (In thousands) Carrying amount (fair value) $ - $ 26,786 Undiscounted amount $ - $ 33,635 Oriental recognized an FDIC shared-loss (benefit) expense, net in the consolidated statements of operations, which consists of the following, for the years ended December 31 , 2017 , 2016 , and 2015 : Year Ended December 31, 2017 2016 2015 (In thousands) FDIC indemnification asset expense (benefit) $ (1,403) $ 8,040 $ 36,398 Change in true-up payment obligation - 2,128 2,677 Reimbursement to FDIC for recoveries - 3,413 2,144 Final settlement with the FDIC on commercial loans - - 1,589 Total FDIC shared-loss expense (benefit), net $ (1,403) $ 13,581 $ 42,808 |
Foreclosed Real Estate
Foreclosed Real Estate | 12 Months Ended |
Dec. 31, 2017 | |
Other Real Estate [Abstract] | |
Real Estate Owned Text Block | NOTE 9 — FORECLOSED REAL ESTATE The following tables present the activity related to foreclosed real estate for the years ended December 31 , 2017 , 2016 and 2015 : Year Ended December 31, 2017 Originated and other loans and leases held for investment Acquired BBVAPR loans Acquired Eurobank loans Total (In thousands) Balance at beginning of year $ 12,390 $ 21,379 $ 13,751 $ 47,520 Decline in value (1,913) (2,850) (1,797) (6,560) Additions 10,565 9,416 3,120 23,101 Sales (6,615) (9,453) (3,530) (19,598) Other adjustments (144) (145) - (289) Balance at end of year $ 14,283 $ 18,347 $ 11,544 $ 44,174 Year Ended December 31, 2016 Originated and other loans and leases held for investment Acquired BBVAPR loans Acquired Eurobank loans Total (In thousands) Balance at beginning of year $ 10,324 $ 26,757 $ 21,095 $ 58,176 Decline in value (1,966) (6,124) (4,913) (13,003) Additions 10,170 7,872 3,591 21,633 Sales (6,138) (7,126) (6,022) (19,286) Balance at end of year $ 12,390 $ 21,379 $ 13,751 $ 47,520 Year Ended December 31, 2015 Originated and other loans and leases held for investment Acquired BBVAPR loans Acquired Eurobank loans Total (In thousands) Balance at beginning of year $ 12,343 $ 35,804 $ 47,603 $ 95,750 Decline in value (2,831) (7,668) (13,791) (24,290) Additions 9,817 8,213 18,535 36,565 Sales (5,933) (9,338) (31,075) (46,346) Other adjustments (3,072) (254) (177) (3,503) Balance at end of year $ 10,324 $ 26,757 $ 21,095 $ 58,176 After the hurricanes Irma and Maria , m anagement ha s evaluat ed the potential impact these two events brought to Oriental’s foreclosed real estate, considering the related underlying insurance coverage. Oriental has performed property inspections and t aking into consideration all available information , the fair value of these properties was not materially impacted . |
Premises and Equipment
Premises and Equipment | 12 Months Ended |
Dec. 31, 2017 | |
Property Plant And Equipment Abstract | |
Property Plant And Equipment Disclosure Text Block | NOTE 10 — PREMISES AND EQUIPMENT Premises and equipment at December 31, 201 7 and 201 6 are stated at cost less accumulated depreciation and amortization as follows: Useful Life December 31, (Years) 2017 2016 (In thousands) Land — $ 5,638 $ 5,638 Buildings and improvements 40 64,277 64,048 Leasehold improvements 5 — 10 20,647 20,414 Furniture and fixtures 3 — 7 16,242 14,479 Information technology and other 3 — 7 28,783 26,003 135,587 130,582 Less: accumulated depreciation and amortization (67,727) (60,175) $ 67,860 $ 70,407 Depreciation and amortization of premises and equipment totaled $ 9.0 million in 201 7 , $ 9.4 million in 201 6 and $ 1 1 . 1 million in 2015 . These are included in the consolidated statements of operations as part of occupancy and equipment expenses. |
Servicing Assets
Servicing Assets | 12 Months Ended |
Dec. 31, 2017 | |
TransfersAndServicingAbstract | |
TransfersAndServicingOfFinancialAssetsTextBlock | NOTE 11 - SERVICING ASSETS Oriental periodically sells or securitizes mortgage loans while retaining the obligation to perform the servicing of such loans. In addition, Oriental may purchase or assume the right to service mortgage loans originated by others. Whenever Oriental undertakes an obligation to service a loan, management assesses whether a servicing asset and/or liability should be recognized. A servicing asset is recogn ized whenever the compensation for servicing is expected to more than adequately compensate Oriental for servicing the loans and leases. Likewise, a servicing liability would be recognized in the event that servicing fees to be received are not expected to adequately compensate Oriental for its expected cost. All separately recognized servicing assets are recognized at fair value using the fair value measurement method. Under the fair value measurement method, Oriental measures servicing rights at fair val ue at each reporting date, reports changes in fair value of servicing assets in earnings in the period in which the changes occur, and includes these changes, if any, with mortgage banking activities in the consolidated statements of operations. The fair v alue of servicing rights is subject to fluctuations as a result of changes in estimated and actual prepayment speeds and default rates and losses. The fair value of servicing rights is estimated by using a cash flow valuation model which calculates the pr esent value of estimated future net servicing cash flows, taking into consideration actual and expected loan prepayment rates, discount rates, servicing costs, and other economic factors, which are determined based on current market conditions. At December 31 , 2017 , the servicing asset amounted to $9.8 million ($ 9.9 million — December 31 , 2016 ) related to mortgage servicing rights. During 2015, Oriental completed the sale of certain servicing assets for approximately $ 7.0 million. Oriental recognized a loss of $ 2.7 million related to this transaction, which is included as other non-interest (loss) income in the consolidated statements of operations. The following table presents the changes in servicing rights measured using the fair value method for years ended December 31, 201 7, 2016 and 201 5 : Year Ended December 31, 2017 2016 2015 (In thousands) Fair value at beginning of year $ 9,858 $ 7,455 $ 13,992 Sale of mortgage servicing rights - - (5,927) Servicing from mortgage securitizations or asset transfers 1,658 2,616 2,620 Changes due to payments on loans (590) (489) (1,017) Changes in fair value related to price of MSR's held for sale - - (2,939) Changes in fair value due to changes in valuation model inputs or assumptions (1,105) 276 726 Fair value at end of year $ 9,821 $ 9,858 $ 7,455 The following table presents key economic assumption ranges used in measuring the mortgage- related servicing asset fair value for the years ended 2017, 2016 and 2015 : Year Ended December 31, 2017 2016 2015 Constant prepayment rate 3.94% - 8.49% 4.24% - 9.14% 5.23% - 15.24% Discount rate 10.00% - 12.00% 10.00% - 12.00% 10.00% - 12.00% The sensitivity of the current fair value of servicing assets to immediate 10 percent and 20 percent adverse changes in the above key assumptions were as follow s : December 31, 2017 (In thousands) Mortgage-related servicing asset Carrying value of mortgage servicing asset $ 9,821 Constant prepayment rate Decrease in fair value due to 10% adverse change $ (196) Decrease in fair value due to 20% adverse change $ (384) Discount rate Decrease in fair value due to 10% adverse change $ (436) Decrease in fair value due to 20% adverse change $ (838) These sensitivities are hypothetical and should be used with caution. As the figures indicate, changes in fair value based on a 10 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 this table, the effect of a variation in a particular assumption on the fair value of the retained interest is calculated without changing any other assumption. Changes in one factor may result in chang es in another (for example, increases in market interest rates may result in lower prepayments), which may magnify or offset the sensitivities. Mortgage banking activities, a component of total banking and financial service revenue in the consolidated stat ements of operations, include the changes from period to period in the fair value of the mortgage loan servicing rights, which may result from changes in the valuation model inputs or assumptions (principally reflecting changes in discount rates and prepay ment speed assumptions) and other changes, including changes due to collection/realization of expected cash flows. Servicing fee income is based on a contractual percentage of the outstanding principal balance and is recorded as income when earned. Servic ing fees on mortgage loans for the years ended 201 7 , 201 6 and 2015 totaled $ 3.9 million, $ 3.7 million and $ 4.8 million, respectively . |
Derivative Activities
Derivative Activities | 12 Months Ended |
Dec. 31, 2017 | |
Derivative Activities [Abstract] | |
Derivative Acitivities | NOTE 12 — DERIVATIVES The following table presents Oriental ’s derivative assets and liabilities at December 31 , 2017 and 2016 : December 31, 2017 2016 (In thousands) Derivative assets: Interest rate swaps not designated as hedges $ 618 $ 1,187 Interest rate caps 153 143 $ 771 $ 1,330 Derivative liabilities: Interest rate swaps designated as cash flow hedges 510 1,004 Interest rate swaps not designated as hedges 618 1,187 Interest rate caps 153 139 Other - 107 $ 1,281 $ 2,437 Interest Rate Swaps Oriental enters into interest rate swap contracts to hedge the variability of future interest cash flows of forecasted wholesale borrowings attributable to changes in a predetermined variable index rate. The interest rate swaps effectively fix Oriental ’s interest payments on an amount of forecasted interest expense attributable to the variable index rate corresponding to the swap notional stated rate. These swaps are designated as cash flow hedges for the forecasted wholesale borrowing transactions, are properly documented as such, and therefore, qualify for cash flow hedge accounting. Any gain or loss associated with the effective portion of the cash flow hedges is recognized in other comprehensive income (loss) and is subsequ ently reclassified into operations in the period during which the hedged forecasted transactions affect earnings. Changes in the fair value of these derivatives are recorded in accumulated other comprehensive income to the extent there is no significant in effectiveness in the cash flow hedging relationships. Currently, Oriental does not expect to reclassify any amount included in other comprehensive income (loss) related to these interest rate swaps to operations in the next twelve months. The following table shows a summary of these swaps and their terms at December 31 , 2017 : Notional Fixed Variable Trade Settlement Maturity Type Amount Rate Rate Index Date Date Date (In thousands) Interest Rate Swaps $ 35,113 2.4210% 1-Month LIBOR 07/03/13 07/03/13 08/01/23 $ 35,113 An accumulated unrealized loss of $ 510 thousand and $ 1.0 million was recognized in accumulated other comprehensive income (loss) related to the valuation of these swaps at December 31 , 2017 and 2016 , respectively, and the related liability is being reflected in the consolidated statements of financial condition. At December 31 , 2017 and 2016 , interest rate swaps not designated as hedging instruments that were offered to clients represented an asset of $618 thousand and $1.2 million, respectively , and were included as part of derivative assets in the consolidated statements of financial position. The credit risk to these clients stemming from these derivatives, if any, is not material. At December 31 , 2017 and 2016 , interest rate swaps not des ignated as hedging instruments that are the mirror-images of the derivatives offered to clients represented a liability of $618 thousand and $1.2 million, respectively, and were included as part of derivative liabilities in the consolidated statements of f inancial condition. The following table shows a summary of these interest rate swaps not designated as hedging instruments and their terms at December 31 , 2017 : Notional Fixed Variable Settlement Maturity Type Amount Rate Rate Index Date Date (In thousands) Interest Rate Swaps - Derivatives Offered to Clients $ 12,500 5.5050% 1-Month LIBOR 04/11/09 04/11/19 $ 12,500 Interest Rate Swaps - Mirror Image Derivatives $ 12,500 5.5050% 1-Month LIBOR 04/11/09 04/11/19 $ 12,500 Interest Rate Caps Oriental has entered into interest rate cap transactions with various clients with floating-rate debt who wish to protect their financial results against increases in interest rates. In these cases, Oriental simultaneously enters into mirror-image interest rate cap transactions with financial counterparties. None of these cap transactions qualify for hedge accounting, and therefore, they are marked to market through earnings. As of December 31 , 2017 and 2016 , t he outstanding total notional amount of interest rate caps was $ 1 52 .6 million and $ 136.1 million, respectively. At December 31 , 2017 and 2016 , the interest rate caps sold to clients represented a liability of $153 thousand and $139 thousand, respect ively, and were included as part of derivative liabilities in the consolidated statements of financial condition. At December 31 , 2017 and 2016 , the interest rate caps purchased as mirror-images represented an asset of $1 53 thousand and $143 thousand, r espectively, and were included as part of derivative assets in the consolidated statements of financial condition. |
Accrued Interest Receivable and
Accrued Interest Receivable and Other Assets | 12 Months Ended |
Dec. 31, 2017 | |
Accrued Interest Receivable And Other Assets [Abstract] | |
Other Assets Disclosure [Text Block] | NOTE 13 — ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS Accrued interest receivable at December 31 , 2017 and 2016 consists of the following: December 31, 2017 2016 (In thousands) Loans, excluding acquired loans $ 46,936 $ 16,706 Investments 3,033 3,521 $ 49,969 $ 20,227 Other assets at December 31 , 2017 and 2016 consist of the following : December 31, 2017 2016 (In thousands) Prepaid expenses $ 9,200 $ 16,501 Other repossessed assets 3,548 3,224 Core deposit and customer relationship intangibles 4,687 6,160 Mortgage tax credits 4,277 6,277 Investment in Statutory Trust 1,083 1,083 Accounts receivable and other assets 41,898 47,120 $ 64,693 $ 80,365 Accrued interest receivable at December 31, 2017 included $ 39.7 million resulting from the loan payment moratorium . Prepaid expenses amounting to $9.2 million and $1 6 . 5 million at December 31 , 2017 and 2016 , respectively, include prepaid municipal, pr operty and income taxes aggregating to $ 5.7 million and $ 12.5 million, respectively. In connection with the FDIC-assisted acquisition and the BBVAPR Acquisition, Oriental recorded a core deposit intangible representing the value of checking and savings deposits acquired. At December 31 , 2017 and 2016 this core deposit intangible amounted to $ 3.3 million and $ 4.3 million, respectively. In addition, Oriental recorded a customer relationship intangible representing the value of customer relationships ac quired with the acquisition of the securities broker-dealer and insurance agency in the BBVAPR Acquisition. At December 31 , 2017 and 2016 , this customer relationship intangible amounted to $ 1. 4 million and $ 1.9 million, respectively. Other repossesse d assets totaled $3.5 million and $3.2 million at December 31 , 2017 and 2016 , respectively, include repossessed automobiles amounting to $ 3.4 million and $ 3.0 million, respectively, which are recorded at their net realizable value. At December 31 , 2017 and 2016 , tax credits for Oriental totaled $4.3 million and $6.3 million, respectively . These tax credits do not have an expiration date. |
Deposits and Related Interest
Deposits and Related Interest | 12 Months Ended |
Dec. 31, 2017 | |
Deposits and Related Interest [Abstract] | |
Deposit and Related Interest | NOTE 14 — DEPOSITS AND RELATED INTEREST Total deposits, including related accrued interest payable, as of December 31 , 2017 and 2016 consist of the following: December 31, 2017 2016 (In thousands) Non-interest bearing demand deposits $ 969,525 $ 848,502 Interest-bearing savings and demand deposits 2,274,116 2,219,452 Individual retirement accounts 231,376 265,754 Retail certificates of deposit 595,983 563,965 Institutional certificates of deposit 209,951 190,419 Total core deposits 4,280,951 4,088,092 Brokered deposits 518,531 576,395 Total deposits $ 4,799,482 $ 4,664,487 Brokered deposits include $ 471.6 million in certificates of deposits and $ 46.9 million in money market accounts at December 31 , 2017 , and $ 508.4 million in certificates of deposits and $ 68.0 million in money market accounts at December 31 , 2016 . The weighted average interest rate of Oriental’s deposits was 0.65 % and 0.62 % at December 31 , 2017 and 2016 , respectively. Interest expense for the years ended December 31 , 2017 , 2016 and 2015 was as follows: Year Ended December 31, 2017 2016 2015 (In thousands) Demand and savings deposits $ 11,426 $ 12,004 $ 12,414 Certificates of deposit 18,872 17,249 14,620 $ 30,298 $ 29,253 $ 27,034 At December 31 , 2016 , demand and interest-bearing deposits and certificates of deposit included uncollateralized deposits of Puerto Rico C ash & Money Market Fund, Inc. ( the " Fund”), which amounted to $ 15.3 million, with a weighted average rate of 0.77 % . On April 3, 2017, the Fund was liquidated in anticipation of its dissolution. At December 31 , 2017 and 2016 , time deposits in denominations of $250 thousand or higher, excluding accrued interest and unamortized discounts, amounted to $ 359.6 million and $ 344.0 million, respectively. Such amounts include public funds time deposits from various Puerto Rico government municipalities, agencies, and corporations of $ 3.5 million and $ 2.1 million at a weighted average rate of 0. 28 % and 0.50 % at December 31 , 2017 and 2016 , respectively. At December 31 , 2017 and 2016 , total public fund deposits from various Puerto Rico government municipalities, agencies, and corporations amounted to $ 153.1 million and $ 170.7 million, respectively. These public funds were collateralized with commercial loans amounting to $ 173.0 millio n and $ 209.2 million at December 31 , 2017 and 2016 , respectively. Excluding accrued interest of approximately $ 1.9 million , the scheduled maturities of certificates of deposit at December 31 , 2017 and 2016 are as follows : December 31, 2017 2017 2016 (In thousands) Within one year: Three (3) months or less $ 316,382 $ 277,621 Over 3 months through 1 year 508,285 534,548 824,667 812,169 Over 1 through 2 years 470,670 488,440 Over 2 through 3 years 137,016 154,545 Over 3 through 4 years 36,125 29,701 Over 4 through 5 years 38,623 41,949 $ 1,507,101 $ 1,526,804 The table of scheduled maturities of certificates of deposits above includes brokered-deposits and individual retirement accounts. The aggregate amount of overdrafts in demand deposit accounts that were reclassified to loans amounted to $ 2.2 million and $ 575 thousand as of December 31 , 2017 and 2016 , respectively. |
Borrowings
Borrowings | 12 Months Ended |
Dec. 31, 2017 | |
Debt Disclosure [Abstract] | |
Borrowings | NOTE 1 5 — BORROWINGS AND RELATED INTEREST Securities Sold under Agreements to Repurchase At December 31 , 2017 , securities underlying agreements to repurchase were delivered to, and are being held by, the counterparties with whom the repurchase agreements were transacted. The counterparties have agreed to resell to Oriental the same or similar securities at the maturity of these agreements. The purpose of these transactions is to provide financing for Oriental ’s securities portfolio. At December 31 , 2017 and 2016 , securities sold under agreements to repurchase (classified by counterparty), excluding accrued interest in the amount of $ 369 thousand and $ 1.5 million, respectively, were as follows: December 31, 2017 2016 Fair Value of Fair Value of Borrowing Underlying Borrowing Underlying Balance Collateral Balance Collateral (In thousands) PR Cash and Money Market Fund $ - $ - $ 70,010 $ 74,538 JP Morgan Chase Bank NA 82,500 88,974 350,219 376,674 Credit Suisse Securities (USA) LLC - - 232,000 249,286 Federal Home Loan Bank 110,000 116,509 - - Total $ 192,500 $ 205,483 $ 652,229 $ 700,498 The following table shows a summary of Oriental ’s repurchase agreements and their terms, excluding accrued interest in the amount of $ 369 thousand , at December 31 , 2017 : Weighted- Borrowing Average Maturity Year of Maturity Balance Coupon Settlement Date Date (In thousands) 2018 82,500 1.42% 12/30/2015 4/29/2018 2019 50,000 1.72% 3/2/2017 9/3/2019 2020 60,000 1.85% 3/2/2017 3/2/2020 $ 192,500 1.63% A repurchase agreement in the original amount of $ 500 million with an original term of ten years was modified in February 2016 to partially terminate, before maturity, $ 268.0 million at a cost of $12.0 million included as a loss on early extinguishment of debt in the consolidated statements of operations. The remaining balance of this repurchase agreement of $ 232.0 million matured on March 2, 2017. In addition, in June 2017, repurchase agreement s in the original amount s of $ 25.0 million and $ 75.0 million, respectively, with original term s of June 2019 and December 2019, respectively, were terminated before mat urity at a cost of $80 thousand included as a loss on early extinguishment of debt in consolidated statement of operation s. Also, in December 2017, a repurchase agreement in the original amount of $ 172.5 million, with an original term of April 2018, was partially terminated, before maturity, by the amount of $ 80.0 million at no cost The following table presents the repurchase liability associated with the repurchase agreement transactions (excluding accrued interest) by maturity. Also, it includes the carrying value and approximate market value of collateral (excluding accrued interest) at December 31 , 2017 and 2016 . There was no cash collateral at December 31 , 2017 and 2016 . December 31, 2017 Market Value of Underlying Collateral Weighted FNMA and Repurchase Average FHLMC Liability Rate Certificates Total (Dollars in thousands) Over 90 days 192,500 1.63% 205,483 205,483 Total $ 192,500 1.63% $ 205,483 $ 205,483 December 31, 2016 Market Value of Underlying Collateral Weighted FNMA and US Treasury Repurchase Average FHLMC GNMA Treasury Liability Rate Certificates Certificates Notes Total (Dollars in thousands) Less than 90 days $ 349,729 $ 3.35% 248,288 $ 75,536 $ 48,954 $ 372,778 Over 90 days 302,500 1.44% 327,627 93 - 327,720 Total $ 652,229 2.47% $ 575,915 $ 75,629 48,954 700,498 The following summarizes significant data on securities sold under agreements to repurchase as of December 31, 201 7 and 201 6 , excluding accrued interest: December 31, 2017 2016 (In thousands) Average daily aggregate balance outstanding $ 393,133 $ 663,845 Maximum outstanding balance at any month-end $ 606,210 $ 902,500 Weighted average interest rate during the year 1.80% 2.83% Weighted average interest rate at year end 1.63% 2.47% Advances from the Federal Home Loan Bank of New York Advances are received from the FHLB-NY under an agreement whereby Oriental is required to maintain a minimum amount of qualifying collateral with a fair value of at least 110 % of the outstanding advances. At December 31 , 2017 and 2016 , these advances were secured by mortgage and commercial loans amounting to $ 1.3 billion and $ 1.4 billion, respectively. Also, at December 31 , 2017 and 2016 , Oriental had an additional borrowing capacity with the FHLB-NY of $ 920 million and $ 1.2 billion, respectively. At December 31 , 2017 and 2016 , the weighted average remaining maturity of FHLB’s advances was 3.2 months and 10.6 months , respectively. The original terms of these advances range between one month and seven years, and the FHLB-NY does not have the right to exercise put options at par on any advances outstanding as of December 31 , 2017 . The following table shows a summary of these advances and their terms, excluding accrued interest in the amount of $ 322 thousand , at December 31 , 2017 Weighted- Borrowing Average Maturity Year of Maturity Balance Coupon Settlement Date Date (In thousands) 2018 30,000 2.19% 1/16/2013 1/16/2018 25,000 2.18% 1/16/2013 1/16/2018 35,113 1.49% 12/1/2017 1/22/2018 90,113 2020 9,208 2.59% 7/19/2013 7/20/2020 $ 99,321 1.98% All of the advances referred to above with maturity dates up to the date of this report were renewed as one-month short-term advances. Subordinated Capital Notes Subordinated capital notes amounted to $36.1 million at December 31, 201 7 and 201 6 , respectively. On September 29, 2016, Oriental repaid $ 67.0 million of subordinated capital notes at maturity. In August 2003, the Statutory Trust II, a special purpose entity of the Company, was formed for the purpose of issuing trust redeemable preferre d securities. In September 2003, $ 35.0 million of trust redeemable preferred securities were issued by the Statutory Trust II as part of a pooled underwriting transaction. The proceeds from this issuance were used by the Statutory Trust II to purchase a like amount of a floating rate junior subordinated deferrable interest debenture issued by Oriental . The subordinated deferrable interest debenture has a par value of $ 36.1 million, bears interest based on 3-month LIBOR plus 295 basis points ( 4.55 % a t December, 2017; 3.94 .% at December 31, 2016), is payable quarterly, and matures on September 17, 2033. It may be called at par after five years and quarterly thereafter (next call date March 2018). The trust redeemable preferred securities have the same maturity and call provisions as the subordinated deferrable interest debenture. The subordinated deferrable interest debenture issued by Oriental is accounted for as a liability denominated as a subordinated capital note on the consolidated statements of f inancial condition. The subordinated capital note is treated as Tier 1 capital for regulatory purposes. Under the Dodd-Frank Act and the new capital rules issued by the federal banking regulatory agencies in July 2013, bank holding companies are prohibite d from including in their Tier 1 capital hybrid debt and equity securities, including trust preferred securities, issued on or after May 19, 2010. Any such instruments issued before May 19, 2010 by a bank holding company, such as Oriental , with total conso lidated assets of less than $15 billion as of December 31, 2009, may continue to be included as Tier 1 capital. Therefore, Oriental is permitted to continue to include its existing trust pre |
Offset of Assets_Liabilities
Offset of Assets/Liabilities | 12 Months Ended |
Dec. 31, 2017 | |
Offsetting [Abstract] | |
Balance sheet Offsetting [Text Block] | NOTE 1 6 – OFFSETTING OF FINANCIAL ASSETS AND LIABILITIES Oriental ’s derivatives are subject to agreements which allow a right of set-off with each respective counterparty. In addition, Oriental ’s securities purchased under agreements to resell and securities sold under agreements to repurchase have a right of set-off with the respective counterparty under the supplemental terms of the master repurchase agreements. In an event of default, each party has a right of set-off against the other party for amounts owed in the related agreements and any other amount or obligation owed in respect of any other agreement or transaction between them. Security collateral posted to open and maintain a master netting agreement with a counterparty, in the form of cas h and securities, may from time to time be segregated in an account at a third-party custodian pursuant to a an account control agreement. The following table presents the potential effect of rights of set-off associated with Oriental ’s recognized financi al assets and liabilities at December 31 , 2017 and 2016 : December 31, 2017 Gross Amounts Not Offset in the Statement of Financial Condition Gross Amounts Net Amount of Offset in the Assets Presented Gross Amount Statement of in Statement Cash of Recognized Financial of Financial Financial Collateral Net Assets Condition Condition Instruments Received Amount (In thousands) Derivatives $ 771 $ - $ 771 $ 2,010 $ - $ (1,239) December 31, 2016 Gross Amounts Not Offset in the Statement of Financial Condition Gross Amounts Net amount of Offset in the Assets Presented Gross Amount Statement of in Statement Cash of Recognized Financial of Financial Financial Collateral Net Assets Condition Condition Instruments Received Amount (In thousands) Derivatives $ 1,330 $ - $ 1,330 $ 2,003 $ - $ (673) December 31, 2017 Gross Amounts Not Offset in the Statement of Financial Condition Net Amount of Gross Amounts Liabilities Offset in the Presented Gross Amount Statement of in Statement Cash of Recognized Financial of Financial Financial Collateral Net Liabilities Condition Condition Instruments Provided Amount (In thousands) Derivatives $ 1,281 $ - $ 1,281 $ - $ 1,980 $ (699) Securities sold under agreements to repurchase 192,500 - 192,500 205,483 - (12,983) Total $ 193,781 $ - $ 193,781 $ 205,483 $ 1,980 $ (13,682) December 31, 2016 Gross Amounts Not Offset in the Statement of Financial Condition Net Amount of Gross Amounts Liabilities Offset in the Presented Gross Amount Statement of in Statement Cash of Recognized Financial of Financial Financial Collateral Net Liabilities Condition Condition Instruments Provided Amount (In thousands) Derivatives $ 2,437 $ - $ 2,437 $ - $ 1,980 $ 457 Securities sold under agreements to repurchase 652,229 - 652,229 700,498 - (48,269) Total $ 654,666 $ - $ 654,666 $ 700,498 $ 1,980 $ (47,812) |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2017 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | NOTE 18 — RELATED PARTY TRANSACTIONS Oriental grants loans to its directors, executive officers and to certain related individuals or organizations in the ordinary course of business. These loans are offered at the same terms as loans to unrelated third parties. The activity and balance of these loans for the years December 31 , 2017 , 2016 , and 2015 was as follows: Year Ended December 31, 2017 2016 2015 (In thousands) Balance at the beginning of year $ 29,020 $ 31,475 $ 27,011 New loans and disbursements 2,875 2,329 13,581 Repayments (3,757) (4,784) (9,117) Balance at the end of year $ 28,138 $ 29,020 $ 31,475 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Income Taxes [Abstract] | |
Income Taxes | NOTE 1 9 — INCOME TAXES Oriental is subject to the provisions of the PR Code, which imposes a maximum corporate tax rate of 39%. The Oriental, however, maintained a lower effective tax rate for the years ended December 31, 2017, 2016 and 2015. Under Puerto Rico law, all companies are treated as separate taxable entities and are not entitled to file consolidated tax returns. OFG Bancorp and its subsidiaries are subject to Puerto Rico regular income tax or the alternative minimum tax (“AMT”) on in come earned from all sources. The AMT is payable if it exceeds regular income tax. The excess of AMT over regular income tax paid in any one year may be used to offset regular income tax in future years, subject to certain limitations . Oriental has operat ions in U.S. through its wholly owned subsidiary OPC, a retirement plan administration based in Florida. Also, i n October 2017 , Oriental expanded its operations in U.S. through the Bank's wholly owned s ubsidiary OFG USA . Both subsidiaries are subject to state and federal taxes. OPC is subject to Florida state taxes and OFG USA is subject to North Carolina state taxes. OFG USA elected to be classified as a corporation . The components of income tax expense (benefit) for the years ended De cember 31, 201 7 , 201 6 and 201 5 are as follows Year Ended December 31, 2017 2016 2015 (In thousands) Current income tax expense $ 19,101 $ 2,768 $ 19,775 Deferred income tax expense (benefit) (3,658) 23,226 (37,329) Total income tax expense (benefit) $ 15,443 $ 25,994 $ (17,554) In relation to the exempt income level, t he Bank’s investment securities portfolio and loans portfolio generated net tax-exempt interest income of $ 10.0 million for 2017 and 2016, respectively, and $ 17.6 million for 2015 . OIB generated exempt income of $ 9.6 million, $ 10. 3 million and $ 6.3 million for 201 7 , 201 6 and 201 5 , respectively. Oriental ’s income tax expense differs from amounts computed by applying the applicable statutory rate to income (loss) before income taxes as follow: Year Ended December 31, 2017 2016 2015 Amount Rate Amount Rate Amount Rate (Dollars in thousands) Income tax expense (benefit) at statutory rates $ 26,555 39.00% $ 33,220 39.00% $ (7,823) -39.00% Tax effect of exempt and excluded income, net (9,506) -13.96% (11,178) -13.12% (8,625) -43.00% Disallowed net operating loss carryover 281 0.41% 1,406 1.65% 556 2.77% Change in valuation allowance (305) -0.45% (9) -0.01% (2,219) -11.06% Release of unrecognized tax benefits, net (775) -1.14% (135) -0.16% (385) -1.92% Capital (gain) loss at preferential rate (279) -0.41% 2,394 2.81% 283 1.41% Other items, net (528) -0.79% 296 0.34% 659 3.28% Income tax expense (benefit) $ 15,443 22.66% $ 25,994 30.51% $ (17,554) -87.52% Oriental classifies unrecognized tax benefits in other liabilities. These gross unrecognized tax benefits would affect the effective tax rate if realized. At December 31, 2017 the amount of unrecognized tax benefits was $ 1.3 million (December 31, 2016 - $ 2.0 million). Oriental had accrued $ 97 thousand at December 31, 2017 (December 31, 2016 - $ 229 thousand) for the payment of interest and penalties relating to unrecognized tax benefits and released $ 877 thousand due to statute of limitation . The fol lowing table presents a reconciliation of unrecognized tax benefits: Year Ended December 31, 2017 2016 2015 In thousands) Balance at beginning of year $ 2,040 $ 2,175 $ 2,560 Additions for tax positions of prior years 97 229 175 Additions (reductions) due to new tax positions - 999 (560) Reduction for tax positions as a result of lapse of statute of limitations (877) (1,363) - Balance at end of year $ 1,260 $ 2,040 $ 2,175 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 statute of limitations, changes in management’s judgment about the level of uncertainty, status of examinations, litigation and legislative activity, and the addition elimination of uncertain tax positions. T he determination of deferred tax expense or benefit is based on changes in the carrying amount s of assets and liabilities that generate temporary differences. The carrying value of Oriental ’s net deferred tax assets assumes that Oriental will be able to generate sufficient future taxable income based on estimates and assumptions. If these est imates and related ass umptions change in the future, Oriental may be required to record valuation allowances against its deferred tax assets resulting in additional income tax expense in the consolidated statements of operatio n s. December 31, 2017 2016 (In thousands) Deferred tax asset: Allowance for loan and lease losses and other reserves $ 97,682 $ 84,959 Loans and other real estate valuation adjustment 10,457 11,120 Net operating loss carry forwards 5,169 9,686 Alternative minimum tax 15,672 15,799 Acquired portfolio 35,293 36,237 FDIC shared-loss indemnification asset - 5,344 Other assets allowances 858 1,547 Other deferred tax assets 5,304 5,116 Total gross deferred tax asset 170,435 169,808 Less: valuation allowance (3,135) (3,133) Net gross deferred tax assets 167,300 166,675 Deferred tax liability: FDIC-assisted acquisition, net (24,564) (25,862) Customer deposit and customer relationship intangibles (1,828) (2,402) Building valuation ajustment (9,069) (9,522) Servicing asset (3,830) (3,844) Other deferred tax liabilities (588) (845) Total gross deferred tax liabilities (39,879) $ (42,475) Net deferred tax asset $ 127,421 $ 124,200 I n assessing the realizability of the deferred tax asset, management considers whether it is more likely than not that some portion or the entire deferred tax asset will not be realized. The ultimate realization of the deferred tax asset is dependent upon the generation of future taxab le income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Based upon the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax asset are deductible, management believes it is more likely than not that Oriental will realize the benefits of these deductible differences, net of the existing valuation allowances at December 31, 2017. The amount of the deferred tax asset considered realizable, however, could be reduced in the near term if estimates of future taxable income during the carry-forward period are re duce d . Oriental follows a two-step approach for recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than n ot that the position will be sustained on audit, including resolution of related appeals of litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely to be realized upon ultimate settlem ent. Oriental is potentially subject to income tax audits in the Commonwealth of Puerto Rico for taxable years 201 4 to 201 7 , until the applicable statute of limitations expire. Tax audits by their nature are often complex and can require several years to complete . |
Regulatory Capital Requirements
Regulatory Capital Requirements | 12 Months Ended |
Dec. 31, 2017 | |
Regulatory Capital Requirements Abstract | |
Regulatory Capital Requirements Under Banking Regulations Text Block | NOTE 20 — REGULATORY CAPITAL REQUIREMENTS Regulatory Capital Requirements O FG Bancorp (on a consolidated basis) and the Bank are subject to various regulatory capital requirements administered by federal and Puerto Rico banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on Oriental ’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, Oriental and the Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classificat ion are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Pursuant to the Dodd-Frank Act, federal banking regulators adopted capital rules that became effective January 1, 2015 for Oriental and the Bank (subject to certain phase-in periods through January 1, 2019) and that replaced their general risk-based capital rules, advanced approaches rule, market risk rule, and leverage rules. Among other matters, the new capital rules: (i) introduce a new capital measure called “Common Equity Tier 1” (“CET1”) and related regulatory capital ratio of CET1 to risk-weighted assets; (ii) specify that Tier 1 capital consists of CET1 and “Additional Tier 1 capital” instruments meeting certain revised requirements ; (iii) mandate that most deductions/adjustments to regulatory capital measures be made to CET1 and not to the other components of capital; and (iv) expand the scope of the deductions from and adjustments to capital as compared to prior regulations. The cu rrent capital rules prescribe a new standardized approach for risk weightings that expand the risk-weighting categories from the current four Basel I-derived categories (0%, 20%, 50% and 100%) to a larger and more risk-sensitive number of categories, depen ding on the nature of the assets, and resulting in higher risk weights for a variety of asset classes. Pursuant to the current capital rules, the minimum capital ratios requirements are as follows: 4.5% CET1 to risk-weighted assets; 6.0% Tier 1 capital (that is, CET1 plus Additional Tier 1 capital) to risk-weighted assets; 8.0% Total capital (that is, Tier 1 capital plus Tier 2 capital) to risk-weighted assets; and 4.0% Tier 1 capital to average consolidated assets as reported on consolidated financial statements (known as the “leverage ratio”). As of December 31 , 2017 and 2016 , OFG Bancorp and the Bank met all capital adequacy requirements to which they are subject. As of December 31 , 2017 and 2016 , the Bank is “well capitalized” under the regulatory framework for prompt corrective action. To be categorized as “well capitalized,” an institution must maintain minimum CET1 risk-based, Tier 1 risk-based, total risk-based, and Tie r 1 leverage ratios as set forth in the tables presented below. OFG Bancorp ’s and the Bank’s actual capital amounts and ratios as of December 31 , 2017 and 2016 are as follows: Minimum Capital Minimum to be Well Actual Requirement Capitalized Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) OFG Bancorp Ratios As of December 31, 2017 Total capital to risk-weighted assets $ 899,258 20.34% $ 353,653 8.00% $ 442,067 10.00% Tier 1 capital to risk-weighted assets $ 842,133 19.05% $ 265,240 6.00% $ 353,653 8.00% Common equity tier 1 capital to risk-weighted assets $ 644,804 14.59% $ 198,930 4.50% $ 287,343 6.50% Tier 1 capital to average total assets $ 842,133 13.92% $ 242,057 4.00% $ 302,571 5.00% As of December 31, 2016 Total capital to risk-weighted assets $ 876,657 19.62% $ 357,404 8.00% $ 446,756 10.00% Tier 1 capital to risk-weighted assets $ 819,662 18.35% $ 268,053 6.00% $ 357,404 8.00% Common equity tier 1 capital to risk-weighted assets $ 627,733 14.05% $ 201,040 4.50% $ 290,391 6.50% Tier 1 capital to average total assets $ 819,662 12.99% $ 252,344 4.00% $ 315,430 5.00% Minimum Capital Minimum to be Well Actual Requirement Capitalized Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Bank Ratios As of December 31, 2017 Total capital to risk-weighted assets $ 879,648 19.92% $ 353,265 8.00% $ 441,581 10.00% Tier 1 capital to risk-weighted assets $ 822,776 18.63% $ 264,949 6.00% $ 353,265 8.00% Common equity tier 1 capital to risk-weighted assets $ 822,776 18.63% $ 198,712 4.50% $ 287,028 6.50% Tier 1 capital to average total assets $ 822,776 13.63% $ 241,417 4.00% $ 301,771 5.00% As of December 31, 2016 Total capital to risk-weighted assets $ 857,259 19.23% $ 356,596 8.00% $ 445,745 10.00% Tier 1 capital to risk-weighted assets $ 800,544 17.96% $ 267,447 6.00% $ 356,596 8.00% Common equity tier 1 capital to risk-weighted assets $ 800,544 17.96% $ 200,585 4.50% $ 289,734 6.50% Tier 1 capital to average total assets $ 800,544 12.75% $ 251,200 4.00% $ 314,000 5.00% |
Equity-Based Compensation Plan
Equity-Based Compensation Plan | 12 Months Ended |
Dec. 31, 2017 | |
Share Based Compensation Abstract | |
Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award Text Block | NOTE 21 – EQUITY-BASED COMPENSATION PLAN The Omnibus Plan provides for equity-based compensation incentives through the grant of stock options, stock appreciation rights, restricted stock, restricted stock units, and dividend equivalents, as well as equity-based performance awards. The Omnibus Plan replaced and superseded the Stock Option Plans. All outstanding stock options under the Stock Option Plans continue in full force and effect, subject to their original terms. The activity in outstanding options for the years ended December 31, 201 7 , 201 6 and 201 5 is set forth below: Year Ended December 31, 2017 2016 2015 Weighted Weighted Weighted Number Average Number Average Number Average Of Exercise Of Exercise Of Exercise Options Price Options Price Options Price Beginning of year 917,269 $ 14.08 951,523 $ 12.45 888,571 $ 14.12 Options granted - - - - 179,225 17.44 Options exercised (71,150) 12.96 (24,752) 12.43 (112,704) 19.78 Options forfeited (500) 15.23 (9,502) 16.68 (3,569) 16.06 End of year 845,619 $ 14.14 917,269 $ 14.08 951,523 $ 12.45 The following table summarizes the range of exercise prices and the weighted average remaining contractual life of the options outstanding at December 31, 2017 : Outstanding Exercisable Weighted Average Weighted Contract Life Weighted Number of Average Remaining Number of Average Range of Exercise Prices Options Exercise Price (Years) Options Exercise Price $5.63 to $8.45 4,078 8.28 1.3 4,078 8.28 11.27 to 14.08 388,241 11.85 3.0 388,241 11.85 14.09 to 16.90 286,575 15.38 5.7 176,025 15.22 16.91 to 19.71 165,225 17.44 7.2 41,305 17.44 19.72 to 22.53 1,500 21.86 0.2 1,500 21.86 845,619 $ 14.14 4.7 611,149 $ 13.20 Aggregate Intrinsic Value $ - $ - The average fair value of each option granted $ 5.77 during 2015 . There were no options granted during 2017 and 2016. The average fair value of each option granted was estimated at the date of the grant using the Black- Scholes option pricing model. The Black- Scholes option-pricing model was developed for use in estimating the fair value of traded options that have no restrictions and are fully transferable and negotiable in a free trading market. Black- Scholes does not consider the employment, transfer or vesting restrictions that are inherent in Oriental’s stock options. Use of an option valuation model, as required by GAAP, includes highly subjective assumptions based on long-term predictions, including the expected stock price volatility and average life of each option grant . The following assumptions were used in estimating the fair value of the options granted during the year ended December 31, 2015, since there were no options granted during the year s ended December 31, 2017 and 2016. Year Ended December 31, 2017 2016 2015 Weighted average assumptions: Dividend yield N/A N/A 1.89% Expected volatility N/A N/A 40.93% Risk-free interest rate N/A N/A 2.41% Expected life (in years) N/A N/A 8.0 The following table summarizes the activity in restricted units under the Omnibus Plan for the years ended December 31, 201 7 , 201 6 and 201 5 : Year Ended December 31, 2017 2016 2015 Weighted Weighted Weighted Average Average Average Restricted Grant Date Restricted Grant Date Restricted Grant Date Units Fair Value Units Fair Value Units Fair Value Beginning of year 59,800 $ 16.64 138,400 $ 16.17 153,050 $ 14.95 Restricted units granted 83,000 13.31 - - 26,700 16.66 Restricted units lapsed (33,100) 16.10 (76,903) 16.04 (39,750) 11.83 Restricted units forfeited (3,900) 16.79 (1,697) 17.02 (1,600) 15.45 End of year 105,800 $ 14.19 59,800 $ 16.64 138,400 $ 16.17 The total unrecognized compensation cost related to non-vested restricted units to members of management at December 31, 201 7 was $ 1.7 million and is expected to be recognized over a weighted-average period of 1.9 year s. |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2017 | |
Stockholders' Equity [Abstract] | |
Stockholders' equity | NOTE 22 – STOCKHOLDERS’ EQUITY Additional Paid-in Capital Additional paid-in capital represents contributed capital in excess of par value of common and preferred stock net of the costs of issuance. As of b oth periods, December 31 , 2017 and 2016 accumulated issuance costs charged against additional paid- in capital amounted to $ 13.6 million and $ 10.1 million for preferred and common stock, respectively. Legal Surplus The Puerto Rico Banking Act requires that a minimum of 10 % of the Bank’s net income or loss for the year be transferred to a reserve fund until such fund (legal surplus) equals the total paid in capital on common and preferred stock. At December 31 , 2017 and, 2016 , the Bank’s legal surplus amounted to $ 81. 5 million and $ 76.3 million, respectively. The amount transferred to the legal surplus account is not available for the payment of dividends to shareholders. Treasury Stock Under Oriental ’s current stock repurchase program it is authorized to purchase in the open market up $ 7.7 million of its outstanding shares of common stock. The shares of common stock repurchased are to be held by Oriental as treasury shares. During the years ended December 31 , 2017 and 2016 , Oriental did not purchase any shares under the program . During the year ended December 31, 2015, Oriental purchased 803,985 shares under this program for a total of $ 8.9 million, at an average price of $ 11.10 per share . Total number of Dollar amount of shares purchased as Average shares repurchased part of stock price paid (excluding repurchase programs per share commissions paid) (In thousands) Period April 2015 204,338 $ 14.38 $ 2,939 May 2015 48,200 13.09 631 June 2015 51,447 12.81 659 July 2015 500,000 9.39 4,696 Year Ended December 31, 2015 803,985 $ 11.10 $ 8,925 At December 31 , 2017 the number of shares that may yet be purchased under the $70 million program is estimated at 8 22 , 431 and was calculated by dividing the remaining balance of $ 7.7 million by $ 9. 40 (closing price of Oriental 's common stock at December 31 , 2017 ). The activity in connection with common shares held in treasury by Oriental for the years ended December 31 , 2017 , 2016 and 2015 is set forth below : Year Ended December 31, 2017 2016 2015 Dollar Dollar Dollar Shares Amount Shares Amount Shares Amount (In thousands, except shares data) Beginning of period 8,711,025 $ 104,860 8,757,960 $ 105,379 8,012,254 $ 97,070 Common shares used upon lapse of restricted stock units (32,598) (358) (46,935) (519) (58,279) (641) Common shares repurchased as part of the stock repurchase program - - - - 803,985 8,950 End of period 8,678,427 $ 104,502 8,711,025 $ 104,860 8,757,960 $ 105,379 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Text Block Abstract | |
Comprehensive Income Note Text Block | NOTE 23 - ACCUMULATED OTHER COMPREHENSIVE INCOME Accumulated other comprehensive income, net of income taxes, as of December 31 , 2017 and 2016 consisted of: December 31, 2017 2016 (In thousands) Unrealized (loss) gain on securities available-for-sale which are not other-than-temporarily impaired $ (3,003) $ 1,617 Income tax effect of unrealized (loss) gain on securities available-for-sale 365 592 Net unrealized gain on securities available-for-sale which are not other-than-temporarily impaired (2,638) 2,209 Unrealized loss on cash flow hedges (510) (1,004) Income tax effect of unrealized loss on cash flow hedges 199 391 Net unrealized loss on cash flow hedges (311) (613) Accumulated other comprehensive (loss) income, net of income taxes $ (2,949) $ 1,596 The following table presents changes in accumulated other comprehensive income by component, net of taxes, for the years ended December 31 , 2017 , 2016 , and 2015 : Year Ended December 31, 2017 Net unrealized Net unrealized Accumulated gains on loss on other securities cash flow comprehensive available-for-sale hedges (loss) income (In thousands) Beginning balance $ 2,209 $ (613) $ 1,596 Other comprehensive loss before reclassifications (11,563) (186) (11,749) Amounts reclassified out of accumulated other comprehensive income (loss) 6,716 488 7,204 Other comprehensive income (loss) (4,847) 302 (4,545) Ending balance $ (2,638) $ (311) $ (2,949) Year Ended December 31, 2016 Net unrealized Net unrealized Accumulated gains on loss on other securities cash flow comprehensive available-for-sale hedges (loss) income (In thousands) Beginning balance $ 16,924 (2,927) 13,997 Other comprehensive loss before reclassifications (26,661) (1,628) (28,289) Amounts reclassified out of accumulated other comprehensive income (loss) 11,946 3,942 15,888 Other comprehensive income (loss) (14,715) 2,314 (12,401) Ending balance $ 2,209 $ (613) $ 1,596 Year Ended December 31, 2015 Net unrealized Net unrealized Accumulated gains on loss on other securities cash flow comprehensive available-for-sale hedges (loss) income (In thousands) Beginning balance $ 25,765 (6,054) 19,711 Other comprehensive loss before reclassifications (5,822) (3,019) (8,841) Other-than-temporary impairment amount reclassified from accumulated other comprehensive income (4,662) - (4,662) Amounts reclassified out of accumulated other comprehensive income (loss) 1,643 6,146 7,789 Other comprehensive income (loss) (8,841) 3,127 (5,714) Ending balance $ 16,924 $ (2,927) $ 13,997 The following table presents reclassifications out of accumulated other comprehensive income for the years ended December 31 , 2017 , 2016 , and 2015 : Amount reclassified out of accumulated other comprehensive (loss) income Affected Line Item in Year Ended December 31, Consolidated Statement 2017 2016 2015 of Operations (In thousands) Cash flow hedges: Interest-rate contracts $ 488 $ 3,642 $ 6,443 Net interest expense Tax effect from changes in tax rates - 300 (297) Income tax expense Available-for-sale securities: Gain on sale of investments 6,896 12,207 2,572 Net gain on sale of securities Other-than-temporary impairment losses on investment securities - - (1,490) Net impairment losses recognized in earnings Residual tax effect from OIB's change in applicable tax rate 104 32 45 Income tax expense Tax effect from changes in tax rates (284) (293) 516 Income tax expense $ 7,204 $ 15,888 $ 7,789 |
Earnings Per Common Share
Earnings Per Common Share | 12 Months Ended |
Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Share Text Block | NOTE 24 – EARNINGS (LOSS) PER COMMON SHARE The calculation of earnings per common share for the year s ended December 31 , 2017 , 2016 and 2015 is as follows: Year Ended December 31, 2017 2016 2015 (In thousands, except per share data) Net income (loss) $ 52,646 $ 59,186 $ (2,504) Less: Dividends on preferred stock Non-convertible preferred stock (Series A, B, and D) (6,512) (6,512) (6,512) Convertible preferred stock (Series C) (7,350) (7,350) (7,350) Income (loss) Income available to common shareholders $ 38,784 $ 45,324 $ (16,366) Effect of assumed conversion of the convertible preferred stock 7,350 7,350 7,350 Income (loss) available to common shareholders assuming conversion $ 46,134 $ 52,674 $ (9,016) Weighted average common shares and share equivalents: Average common shares outstanding 43,939 43,913 44,231 Effect of dilutive securities: Average potential common shares-options 19 37 68 Average potential common shares-assuming conversion of convertible preferred stock 7,138 7,138 7,156 Total weighted average common shares outstanding and equivalents 51,096 51,088 51,455 Earnings (loss) per common share - basic $ 0.88 $ 1.03 $ (0.37) Earnings (loss) per common share - diluted $ 0.88 $ 1.03 $ (0.37) In computing diluted earnings per common share, the 84,000 shares of convertible preferred stock, which remain outstanding at December 31 , 2017 , with a conversion rate, subject to certain conditions, of 86.4225 shares of common stock per share, were included as average potential common shares from the date they were issued and outstanding. Moreover, in computing diluted earnings per common share, the dividends declared during the years ended 2017 , 2016 and 2015 on the convertible preferred stock were added back as income available to common shareholders. For the years ended 2017 , 2016 and 2015 , weighted-average stock options with an anti-dilutive effect on earnings per share not included in the calculation amounted to 9 3 2, 3 0 6 , 9 49 , 134 and 887 , 307 , respectively. |
Guarantees
Guarantees | 12 Months Ended |
Dec. 31, 2017 | |
Guarantees [Abstract] | |
Guarantees [Text Block] | NOTE 25 – GUARANTEES At December 31 , 2017 and 2016 , the unamortized balance of the obligations undertaken in issuing the guarantees under standby letters of credit represented a liability of $ 2 1. 1 million and $ 4.0 million, respectively. As a result of the BBVAPR Acquisition, Oriental assumed a liability for residential mortgage loans sold subject to credit recourse, pursuant to FNMA’s residential mortgage loan sales and securitization programs. At December 31 , 2017 and 2016 , the unpaid principal balance of residential mortgage loans sold subject to credit recourse was $ 6. 4 million and $ 20.1 million, respectively. The following table shows the changes in Oriental ’s liability for estimated losses from these credit recourse agreements, inc luded in the consolidated statements of financial condition during the years ended December 31 , 2017 , 2016 and 2015 . Year Ended December 31, 2017 2016 2015 (In thousands) Balance at beginning of period $ 710 $ 439 $ 927 Net (charge-offs/terminations) recoveries (352) 271 (488) Balance at end of period $ 358 $ 710 $ 439 The estimated losses to be absorbed under the credit recourse arrangements were recorded as a liability when the credit recourse was assumed, and are updated on a quarterly basis. The expected loss, which represents the amount expected to be lost on a given loan, considers the probability of default and loss severity. The probability of default represents the probability that a loan in good standing would become 120 days delinquent, in which case Oriental is o bligated to repurchase the loan . If a borr ower defaults, pursuant to the credit recourse provided, Oriental is required to repurchase the loan or reimburse the third party investor for the incurred loss. The maximum potential amount of future payments that Oriental would be required to make under the recourse arrangements is equivalent to the total outstanding balance of the residential mortgage loans serviced with recourse and interest, if applicable. During 2017 , Oriental repurchased approximately $ 107 thousand of unpaid principal balance in m ortgage loans subject to credit recourse provisions. During 2016 , Oriental repurchased approximately $ 515 thousand of unpaid principal balance in mortgage loans subject to the credit recourse provisions. If a borrower defaults, Oriental has rights to the underlying collateral securing the mortgage loan. Oriental suffers losses on these mortgage loans when the proceeds from a foreclosure sale of the collateral property are less than the outstanding principal balance of the loan, any uncollected interest advanced, and the costs of holding and disposing the related property. At December 31 , 2017 , Oriental ’s liability for estimated credit losses related to loans sold with credit recourse amounted to $ 358 thousand (December 31, 2016– $ 710 thousand). When Oriental sells or securitizes mortgage loans, it generally makes customary representations and warranties regarding the characteristics of the loans sold. Oriental 's mortgage operat ions division groups conforming mortgage loans into pools which are exchanged for FNMA and GNMA mortgage-backed securities, which are generally sold to private investors, or are sold directly to FNMA or other private investors for cash. As required under s uch mortgage backed securities programs, quality review procedures are performed by Oriental to ensure that asset guideline qualifications are met. To the extent the loans do not meet specified characteristics, Oriental may be required to repurchase such l oans or indemnify for losses and bear any subsequent loss related to the loans. During the year ended December 31 , 2017 , Oriental repurchased $ 3.1 million ( December 31 , 2016 – $ 3.7 million ) of unpaid principal balance in mortgage loans , excluding mortgag e loans subject to credit recourse provision referred above . During 2017 , 2016 and 2015, Oriental recognized $ 260 thousand, $ 380 thousand and $ 1.4 million , respectively, in losses from the repurchase of residential mortgage loans sold subject to credi t recourse. During 2017 , 2016 and 2015 , Oriental recognized $ 47 7 thousand , $ 1.3 million and $ 2 .5 million , respectively, in losses from the repurchase of residential mortgage loans as a result of breaches of the customary representations and warranties. Servicing agreements relating to the mortgage-backed securities programs of FNMA and GNMA, and to mortga ge loans sold or serviced to certain other investors, including the FHLMC, require Oriental to advance funds to make scheduled payments of principal, interest, taxes and insurance, if such payments have not been received from the borrowers. At December 31 , 2017 , Oriental serviced $ 864.9 million in mortgage loans for third-parties. Oriental generally recovers funds advanced pursuant to these arrangements from the mortgage owner, from liquidation proceeds when the mortgage loan is foreclosed or, in the case of FHA/VA loans, under the applicable FHA and VA insurance and guarantees programs. However, in the meantime, Oriental must absorb the cost of the funds it advances during the time the advance is outstanding. Oriental 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 Oriental would not receive any future servicing income with respect to tha t loan. At December 31 , 2017 , the outstanding balance of funds advanced by Oriental under such mortgage loan servicing agreements was approximately $ 440 thousand ( December 31 , 2016 - $ 334 thousand). To the extent the mortgage loans underlying Oriental 's s ervicing portfolio experience increased delinquencies, Oriental would be required to dedicate additional cash resources to comply with its obligation to advance funds as well as incur additional administrative costs related to increases in collection effor ts. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2017 | |
Commitments and Contingencies [Abstract] | |
Commitments | NOTE 26 — COMMITMENTS AND CONTINGENCIES Loan Commitments In the normal course of business, Oriental becomes a party to credit-related financial instruments with off-balance-sheet risk to meet the financing needs of its customers. These financial instruments include commitments to extend credit, standby and commercial letters of credit, and financial gua rantees. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized in the consolidated statements of financial condition. The contract or notional amount of those instruments reflects the e xtent of Oriental ’s involvement in particular types of financial instruments. Oriental ’s exposure to credit losses in the event of nonperformance by the counterparty to the financial instrument for commitments to extend credit, including commitments under credit card arrangements, and commercial letters of credit is represented by the contractual notional amounts of those instruments, which do not necessarily represent the amounts potentially subject to risk. In addition, the measurement of the risks associ ated with these instruments is meaningful only when all related and offsetting transactions are identified. Oriental uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. Credit-related financial instruments at December 31 , 2017 and 2016 were as follows: December 31, 2017 2016 (In thousands) Commitments to extend credit $ 485,019 $ 492,885 Commercial letters of credit 494 2,721 Commitments to extend credit represent agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Oriental evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if it is deemed necessary by Oriental upon the extension of credit, is based on management’s credit evaluation of the counterparty. A t December 31 , 2017 and 2016 , commitments to extend credit consisted mainly of undisbursed available amounts on commercial lines of credit, construction loans, and revolving credit card arrangements. Since many of the unused commitments are expected to expire unused or be only partially used, the total amount of these unused commitments does not necessarily represent future cash requirements. These lines of credit had a reserve of $ 567 thousand and $ 667 thousand at December 31 , 2017 and 2016 , respectively . Commercial letters of c redit are issued or confirmed to guarantee payment of customers’ payables or receivables in short-term international trade transactions. Generally, drafts will be drawn when the underlying transaction is consummated as intended. However, the short-term nat ure of this instrument serves to mitigate the risk associated with these contracts. The summary of instruments that are considered financial guarantees in accordance with the authoritative guidance related to guarantor’s accounting and disclosure requirem ents for guarantees, including indirect guarantees of indebtedness of others, at December 31 , 2017 and 2016 , is as follows: December 31, 2017 2016 (In thousands) Standby letters of credit and financial guarantees $ 21,107 $ 4,041 Loans sold with recourse 6,420 20,126 Standby letters of credit and financial guarantees are written conditional commitments issued by Oriental to guarantee the payment and/or performance of a customer to a third party (“beneficiary”). If the customer fails to comply with the agreement, the beneficiary may draw on the standby letter of credit or financial guarantee as a remedy. The amount of cred it risk involved in issuing letters of credit in the event of nonperformance is the face amount of the letter of credit or financial guarantee. These guarantees are primarily issued to support public and private borrowing arrangements, including commercial paper, bond financing, and similar transactions. The amount of collateral obtained, if it is deemed necessary by Oriental upon extension of credit, is based on management’s credit evaluation of the customer. Lease Commitments Oriental has entered into various operating lease agreements for branch facilities and administrative offices. Rent expense for the years ended December 31 , 2017 , 2016 and 2015 , amounted to $ 9.9 million, $ 8.5 million, and $ 9.2 million, respectively, and is included in the "occupancy and equipment" caption in the unaudited consolidated statements of opera tions. Future rental commitments under leases in effect at December 31 , 2017 , exclusive of taxes, insurance, and maintenance e xpenses payable by Oriental , are summarized as follows: Minimum Rent Year Ending December 31, (In thousands) 2018 $ 7,251 2019 6,345 2020 5,679 2021 4,796 2022 3,379 Thereafter 6,869 $ 34,319 |
Contingencies | Contingencies Oriental and its subsidiaries are defendants in a number of legal proceedings incidental to their business. In the ordinary course of business, Oriental and its subsidiaries are also subject to governmental and regulatory examinations. Certain subsidiaries of Oriental , including the Bank (and its subsidiary OIB), Oriental Financial Services, and Oriental Insurance, are subject to regulation by various U.S., Puerto Rico and other regulators. Oriental seeks to resolve all li tigation and regulatory matters in the manner management believes is in the best interests of Oriental and its shareholders, and contests allegations of liability or wrongdoing and, where applicable, the amount of damages or scope of any penalties or other relief sought as appropriate in each pending matter. Subject to the accounting and disclosure framework under the provisions of ASC 450, it is the opinion of Oriental ’s management, based on current knowledge and after taking into account its current lega l accruals, that the eventual outcome of all matters would not be likely to have a material adverse effect on the consolidated statements of financial condition of Oriental . Nonetheless, given the substantial or indeterminate amounts sought in certain of t hese matters, and the inherent unpredictability of such matters, an adverse outcome in certain of these matters could, from time to time, have a material adverse effect on Oriental ’s consolidated results of operations or cash flows in particular quarterly or annual periods. Oriental has evaluated all litigation and regulatory matters where the likelihood of a potential loss is deemed reasonably possible. Oriental has determined that the estimate of the reasonably possible loss is not significant. |
Fair Value
Fair Value | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value | NOTE 27 - FAIR VALUE OF FINANCIAL INSTRUMENTS Oriental follows the fair value measurement framework under U.S. Generally Accepted Accounting Principles (“GAAP”) . Fair Value Measurement The fair value measurement framework defines fair value as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. This framework also es tablishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Money market investments The fair value of money market investments is based on the carrying amounts reflected in the consolidated statements of financial condition as these are reasonable estimates of fair value given the short-term nature of the instruments. Investment securities The fair value of investment securities is based on qu oted market prices, when available, or market prices provided by Interactive Data Corporation ("IDC"), and independent, well-recognized pricing company. Suc h securities are classified as Level 1 or L evel 2 depending on the basis for determining fair value . If listed prices or quotes are not available, fair value is based upon externally developed models that use both observable and unobservable inputs depending on the market activity of the instrument, and suc h securities are classified as L evel 3. At December 31 , 2017 and 2016 , Oriental did not have investment securities classified as Level 3. Securities purchased under agreements to resell The fair value of securities purchased under agreements to resell is based on the carrying amounts reflected in the consolidated statements of financial condition as these are reasonable estimates of fair value given the short-term nature of instruments . Derivative instruments The fair value of the interest rate swaps is largely a function of the financial mark et’s expectations regarding the future direction of interest rates. Accordingly, current market values are not necessarily indicative of the future impact of derivative instruments on earnings. This will depend, for the most part, on the shape of the yield curve, the level of interest rates, as well as the expectations for rates in the future. The fair value of most of these derivative instruments is based on observable market parameters, which include discounting the instruments’ cash flows using the U.S. dollar LIBOR-based discount rates, and also applying yield curves that account for the industry sector and the credit rating of the counterparty and/or Oriental . Certain other derivative instruments with limited market activity are valued using externally developed models that consider unobservable market parameters. Based on their valuation methodology, derivative instruments are classified as Level 2 or Level 3. Servicing assets Servicing assets do not trade in an active market with readily observable prices. Servicing assets are priced using a discounted cash flow model. The valuation model considers servicing fees, portfolio characteristics, prepayment assumptions, delinquency rates, late charges, other ancillary revenues, cost to service and other ec onomic factors. Due to the unobservable nature of certain valuation inputs, the servicing rights are classified as Level 3. Impaired Loans Impaired loans are carried at the present value of expected future cash flows using the loan’s existing rate in a discounted cash flow calculation, or the fair value of the collateral if the loan is collateral-dependent. Expected cash flows are based on internal inputs reflecting expected default rates on contractual cash flows. This method of estimating fair value do es not incorporate the exit-price concept of fair value described in ASC 820-10 and would generally result in a higher value than the exit-price approach. For loans measured using the estimated fair value of collateral less costs to sell, fair value is gen erally determined based on the fair value of the collateral, which is derived from appraisals that take into consideration prices in observed transactions involving similar assets in similar locations, in accordance with the provisions of ASC 310-10-35 les s disposition costs. Currently, the associated loans considered impaired are classified as Level 3. Foreclosed real estate Foreclosed real estate includes real estate properties securing residential mortgage and commercial loans. The fair value of forecl osed real estate may be determined using an external appraisal, broker price option or an internal valuation. These foreclosed assets are classified as Level 3 given certain internal adjustments that may be made to external appraisals. Other repossessed a ssets Other repossessed assets include repossessed automobiles. The fair value of the repossessed automobiles may be determined using internal valuation and an external appraisal. These repossessed assets are classified as Level 3 given certain internal adjustments that may be made to external appraisals. Assets and liabilities measured at fair value on a recurring and non-recurring basis are summarized below: December 31, 2017 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ - $ 645,797 $ - $ 645,797 Trading securities - 191 - 191 Money market investments 7,021 - - 7,021 Derivative assets - 771 - 771 Servicing assets - - 9,821 9,821 Derivative liabilities - (1,281) - (1,281) $ 7,021 $ 645,478 $ 9,821 $ 662,320 Non-recurring fair value measurements: Impaired commercial loans $ - $ - $ 72,285 $ 72,285 Foreclosed real estate - - 44,174 44,174 Other repossessed assets - - 3,548 3,548 $ - $ - $ 120,007 $ 120,007 December 31, 2016 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ - $ 751,484 $ - $ 751,484 Trading securities - 347 - 347 Money market investments 5,606 - - 5,606 Derivative assets - 1,330 - 1,330 Servicing assets - - 9,858 9,858 Derivative liabilities - (2,437) - (2,437) $ 5,606 $ 750,724 $ 9,858 $ 766,188 Non-recurring fair value measurements: Impaired commercial loans $ - $ - $ 54,289 $ 54,289 Foreclosed real estate - - 47,520 47,520 Other repossessed assets - - 3,224 3,224 $ - $ - $ 105,033 $ 105,033 The table below presents a reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the years ended December 31 , 2017 , 2016 , and 2015 : Year Ended December 31, 2017 Servicing Level 3 Instruments Only assets (In thousands) Balance at beginning of period $ 9,858 New instruments acquired 1,658 Principal repayments (590) Changes in fair value of servicing assets (1,105) Balance at end of period $ 9,821 Year Ended December 31, 2016 Derivative Derivative asset liability (S&P (S&P Purchased Servicing Embedded Level 3 Instruments Only Options) assets Options) Total (In thousands) Balance at beginning of period $ 1,171 $ 7,455 $ (1,095) $ 7,531 Gains (losses) included in earnings (1,171) - 1,067 (104) New instruments acquired - 2,616 - 2,616 Principal repayments - (489) - (489) Amortization - - 28 28 Changes in fair value of servicing assets - 276 - 276 Balance at end of period $ - $ 9,858 $ - $ 9,858 YearEnded December 31, 2015 Derivative Derivative asset liability (S&P (S&P Purchased Servicing Embedded Level 3 Instruments Only Options) assets Options) Total (In thousands) Balance at beginning of period $ 5,555 $ 13,992 $ (5,477) $ 14,070 Gains (losses) included in earnings (4,384) - 4,197 (187) Sale of mortgage servicing rights - (5,927) - (5,927) New instruments acquired - 2,620 - 2,620 Principal repayments - (1,017) - (1,017) Amortization - - 185 185 Changes in fair value related to price of MSR held-for-sale - (2,939) - (2,939) Changes in fair value of servicing assets - 726 - 726 Balance at end of period $ 1,171 $ 7,455 $ (1,095) $ 7,531 During December 31 , 2017 , 2016 , and 2015 , there were purchases and sales of assets and liabilities measured at fair value on a recurring basis. There were no transfers into and out of Level 1 and Level 2 fair value measurements during such periods. The table below presents quantitative information for all assets and liabilities measured at fair value on a recurring and non-recurring basis using significant unobservable inputs (Level 3) at December 31 , 2017 : December 31, 2017 Fair Value Valuation Technique Unobservable Input Range (In thousands) Servicing assets $ 9,821 Cash flow valuation Constant prepayment rate 3.94% -8.49% Discount rate 10.00% - 12.00% Collateral dependant impaired loans $ 36,734 Fair value of property or collateral Appraised value less disposition costs 20.20% - 36.20% Other non-collateral dependant impaired loans $ 35,551 Cash flow valuation Discount rate 4.15% - 10.50% Foreclosed real estate $ 44,174 Fair value of property or collateral Appraised value less disposition costs 20.20% - 36.20% Other repossessed assets $ 3,548 Fair value of property or collateral Estimated net realizable value less disposition costs 29.00% - 71.00% Information about Sensitivity to Changes in Significant Unobservable Inputs Servicing assets – The significant unobservable inputs used in the fair value measurement of Oriental ’s servicing assets are constant prepayment rates and discount rates. Changes in one factor may result in changes in another (for example, increases in market interest rates may result in lower prepayments), which may magnify or offset the sensitivities. Mortgage banking activities, a component of total banking and financial service revenue in the consolidated statements of operations, include the changes from period to period in the fair value of the mortgage loan servicing rights, which may result from changes in the valuation model inputs or assumptions (principally reflec ting changes in discount rates and prepayment speed assumptions) and other changes, including changes due to collection/realization of expected cash flows. Fair Value of Financial Instruments The information about the estimated fair value of financial instruments required by GAAP is presented hereunder. The aggregate fair value amounts presented do not necessarily represent management’s estimate of the underlying value of Oriental . The estimated fair value is subjective in nature, involves uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could affect these fair value estimat es. The fair value estimates do not take into consideration the value of future business and the value of assets and liabilities that are not financial instruments. Other significant tangible and intangible assets that are not considered financial instrume nts are the value of long-term customer relations hips of retail deposits, and premises and equipment . The estimated fair value and carrying value of Oriental ’s financial instruments at December 31 , 2017 and December 31 , 2016 is as follows: December 31, December 31, 2017 2016 Fair Carrying Fair Carrying Value Value Value Value (In thousands) Level 1 Financial Assets: Cash and cash equivalents $ 485,203 $ 485,203 $ 510,439 $ 510,439 Restricted cash $ 3,030 $ 3,030 $ 3,030 $ 3,030 Level 2 Financial Assets: Trading securities $ 191 $ 191 $ 347 $ 347 Investment securities available-for-sale $ 645,797 $ 645,797 $ 751,484 $ 751,484 Investment securities held-to-maturity $ 497,681 $ 506,064 $ 592,763 $ 599,884 Federal Home Loan Bank (FHLB) stock $ 13,995 $ 13,995 $ 10,793 $ 10,793 Other investments $ 3 $ 3 $ 3 $ 3 Derivative assets $ 771 $ 771 $ 1,330 $ 1,330 Financial Liabilities: Derivative liabilities $ 1,281 $ 1,281 $ 2,437 $ 2,437 Level 3 Financial Assets: Total loans (including loans held-for-sale) $ 3,842,907 $ 4,056,329 $ 3,917,340 $ 4,147,692 FDIC indemnification asset $ - $ - $ 8,669 $ 14,411 Accrued interest receivable $ 49,969 $ 49,969 $ 20,227 $ 20,227 Servicing assets $ 9,821 $ 9,821 $ 9,858 $ 9,858 Accounts receivable and other assets $ 41,898 $ 41,898 $ 47,120 $ 47,120 Financial Liabilities: Deposits $ 4,782,197 $ 4,799,482 $ 4,644,629 $ 4,664,487 Securities sold under agreements to repurchase $ 191,104 $ 192,869 $ 651,898 $ 653,756 Advances from FHLB $ 99,509 $ 99,643 $ 106,422 $ 105,454 Other borrowings $ 153 $ 153 $ 61 $ 61 Subordinated capital notes $ 33,080 $ 36,083 $ 30,230 $ 36,083 Accrued expenses and other liabilities $ 86,791 $ 86,791 $ 95,370 $ 95,370 The following methods and assumptions were used to estimate the fair values of significant financial instruments at December 31 , 2017 and 2016 : • Cash and cash equivalents (including money market investments and time deposits with other banks), restricted cash, accrued interest receivable, accounts receivable and other assets and accrued expenses and other liabilities have been valued at the carrying amounts reflected in the consolidated statements of financial condition as these are reas onable estimates of fair value given the short-term nature of the instruments . • Investments in FHLB-NY stock are valued at their redemption value. • The fair value of investment securities, including trading securities and other investments, is based o n quoted market prices, when available or prices provided from contracted pricing providers, or market prices provided by recognized broker-dealers. If listed prices or quotes are not available, fair value is based upon externally developed models that use both observable and unobservable inputs depending on the market activity of the instrument . • The fair value of the FDIC indemnification asset represented the present value of the net estimated cash payments expected to be received from the FDIC for futu re losses on covered assets based on the credit assumptions on estimated cash flows for each covered asset and the loss sharing percentages. The FDIC shared-loss agreements were terminated on February 6, 2017. Such termination takes into account the antici pated reimbursements over the life of the shared-loss agreements and the true-up payment liability of the Bank anticipated at the end of the ten year term of the single family shared-loss agreement . Therefore, at December 3 1 , 2017, Oriental had no FDIC indemni fication asset. • The fair value of servicing asset is estimated by using a cash flow valuation model which calculates the present value of estimated future net servicing cash flows, taking into consideration actual and expected loan prepayment rates, dis count rates, servicing costs, and other economic factors, which are determined based on current market conditions . • The fair values of the derivative instruments are provided by valuation experts and counterparties. Certain derivatives with limited marke t activity are valued using externally developed models that consider unobservable market parameters. • Fair value of derivative liabilities, which include interest rate swaps and forward-settlement swaps, are based on the net discounted value of the con tractual projected cash flows of both the pay-fixed receive-variable legs of the contracts. The projected cash flows are based on the forward yield curve, and discounted using current estimated market rates . • The fair value of the loan portfolio (includi ng loans held-for-sale) is estimated by segregating by type, such as mortgage, commercial, consumer, auto and leasing. Each loan segment is further segmented into fixed and adjustable interest rates and by performing and non-performing categories. The fair value of performing loans is calculated by discounting contractual cash flows, adjusted for prepayment estimates (voluntary and involuntary), if any, using estimated current market discount rates that reflect the credit and interest rate risk inherent in the loan. This fair value is not currently an indication of an exit price as that type of assumption could result in a different fair value estimate. Non-performing loans have been valued at the carrying amounts . • The fair value of demand deposits and sa vings accounts is the amount payable on demand at the reporting date. The fair value of fixed-maturity certificates of deposit is based on the discounted value of the contractual cash flows, using estimated current market discount rates for deposits of sim ilar remaining maturities . • The fair value of long-term borrowings, which include securities sold under agreements to repurchase, advances from FHLB, and subordinated capital notes is based on the discounted value of the contractual cash flows using current estimated market discount rates for borrowings with similar terms, remaining maturities and put date s . |
Business Segment
Business Segment | 12 Months Ended |
Dec. 31, 2017 | |
Segment Reporting [Abstract] | |
Segment Reporting | NOTE 2 8 – BUSINESS SEGMENTS Oriental segregates its businesses into the following major reportable segments of business: Banking, Wealth Management, and Treasury. Management established the reportable segments based on the internal reporting used to evaluate performance and to assess where to allocate resources. Other factors such as Oriental ’s organization, nature of its products, distribution channels and economic characteristics of the products were also considered in the determination of the repor table segments. Oriental measures the performance of these reportable segments based on pre-established goals of different financial parameters such as net income, net interest income, loan production, and fees generated. Oriental ’s methodology for allocat ing non-interest expenses among segments is based on several factors such as revenue, employee headcount, occupied space, dedicated services or time, among others. These factors are reviewed on a periodical basis and may change if the conditions warrant. Banking includes the Bank’s branches and traditional banking products such as deposits and commercial, consumer and mortgage loans. Mortgage banking activities are carried out by the Bank’s mortgage banking division, whose principal activity is to origin ate mortgage loans for Oriental ’s own portfolio. As part of its mortgage banking activities, Oriental may sell loans directly into the secondary market or securitize conforming loans into mortgage-backed securities. Wealth Management is comprised of the B ank’s trust division, Oriental Financial Services, Oriental Insurance, and OPC. The core operations of this segment are financial planning, money management and investment banking, brokerage services, insurance sales activity, corporate and individual trus t and retirement services, as well as retirement plan administration services. The Treasury segment encompasses all of Oriental ’s asset/liability management activities, such as purchases and sales of investment securities, interest rate risk management, d erivatives, and borrowings. Intersegment sales and transfers, if any, are accounted for as if the sales or transfers were to third parties, that is, at current market prices. Following are the results of operations and the selected financial information by operating segment for the years ended December 31 , 2017 , 2016 , and 2015 : Year Ended December 31, 2017 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 311,503 $ 53 $ 34,091 $ 345,647 $ - $ 345,647 Interest expense (26,308) - (15,167) (41,475) - (41,475) Net interest income 285,195 53 18,924 304,172 - 304,172 Provision for loan and lease losses, net (113,108) - (31) (113,139) - (113,139) Non-interest income, net 45,102 26,069 7,516 78,687 - 78,687 Non-interest expenses (178,540) (17,830) (5,261) (201,631) - (201,631) Intersegment revenue 1,604 - 748 2,352 (2,352) - Intersegment expenses (748) (1,137) (467) (2,352) 2,352 - Income before income taxes $ 39,505 $ 7,155 $ 21,429 $ 68,089 $ - $ 68,089 Income tax expense (benefit) 15,407 2,790 (2,754) 15,443 - 15,443 Net income $ 24,098 $ 4,365 $ 24,183 $ 52,646 $ - $ 52,646 Total assets $ 5,597,077 $ 25,980 $ 1,536,417 $ 7,159,474 $ (970,421) $ 6,189,053 Year Ended December 31, 2016 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 321,868 $ 65 $ 34,659 $ 356,592 $ - $ 356,592 Interest expense (27,838) - (29,327) (57,165) - (57,165) Net interest income 294,030 65 5,332 299,427 - 299,427 Provision for loan and lease losses, net (65,076) - - (65,076) - (65,076) Non-interest income, net 35,587 26,788 4,444 66,819 - 66,819 Non-interest expenses (193,156) (17,443) (5,391) (215,990) - (215,990) Intersegment revenue 1,521 - 883 2,404 (2,404) - Intersegment expenses (883) (1,108) (413) (2,404) 2,404 - Income before income taxes $ 72,023 $ 8,302 $ 4,855 $ 85,180 $ - $ 85,180 Income tax expenses (benefit) 28,089 3,238 (5,333) 25,994 - 25,994 Net income $ 43,934 $ 5,064 $ 10,188 $ 59,186 $ - $ 59,186 Total assets $ 5,584,866 $ 23,315 $ 1,837,514 $ 7,445,695 $ (943,871) $ 6,501,824 Year Ended December 31, 2015 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 367,620 $ 95 $ 38,853 $ 406,568 $ - $ 406,568 Interest expense (28,425) - (40,771) (69,196) - (69,196) Net interest income (loss) 339,195 95 (1,918) 337,372 - 337,372 Provision for non-covered loan and lease losses (161,501) - - (161,501) - (161,501) Non-interest income 24,004 28,288 284 52,576 - 52,576 Non-interest expenses (219,519) (22,564) (6,422) (248,505) - (248,505) Intersegment revenue 1,427 - 948 2,375 (2,375) - Intersegment expenses (948) (1,027) (400) (2,375) 2,375 - Loss) income before income taxes $ (17,342) $ 4,792 $ (7,508) $ (20,058) $ - $ (20,058) Income tax (benefit) expense (6,763) 1,869 (12,660) (17,554) - (17,554) Net (loss) income $ (10,579) $ 2,923 $ 5,152 $ (2,504) $ - $ (2,504) Total assets $ 5,867,874 $ 22,349 $ 2,126,921 $ 8,017,144 $ (917,995) $ 7,099,149 |
Holding Company Financial Infor
Holding Company Financial Information | 12 Months Ended |
Dec. 31, 2017 | |
Condensed Financial Information Of Parent Company Only Disclosure Abstract | |
CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock | NOTE 29 – OFG BANCORP (HOLDING COMPANY ONLY) FINANCIAL INFORMATION As a bank holding company subject to the regulations and supervisory guidance of the Federal Reserve Board, Oriental generally should inform the Federal Reserve Board and eliminate, defer or significantly reduce its dividends if: (i) its net income available to shareholders for the past four quarters, net of dividends previously paid during that period, is not sufficient to fully fund the dividends; (ii) its prospective rate of earnin gs retention is not consistent with its capital needs and overall current and prospective financial condition; or (iii) it will not meet, or is in danger of not meeting, its minimum regulatory capital adequacy ratios. The payment of dividends by the Bank to Oriental may also be affected by other regulatory requirements and policies, such as the maintenance of certain regulatory capital levels. During 201 7 and 201 6 , Oriental Insurance paid $ 4 .0 million and $ 5.0 million, respectively, in dividends to OFG Ban corp. During 2015, Oriental Insurance did not pay any dividends to OFG Bancorp. Oriental Financial Services paid $ 1.0 millio n in dividends to OFG Bancorp during 2016 but did not pay any dividends during 2017 and 2015 . The following condensed financial i nformation presents the financial position of the holding company only as of December 31, 201 7 and 201 6 , and the results of its operations and its cash flows for the years ended December 31, 201 7 , 201 6 and 201 5: OFG BANCORP CON DENSED STATEMENTS OF FINANCIAL POSITION INFORMATION (Holding Company Only) December 31, 2017 2016 (In thousands) ASSETS Cash and cash equivalents $ 24,430 $ 22,573 Investment in bank subsidiary, equity method 941,198 920,085 Investment in nonbank subsidiaries, equity method 20,231 18,427 Due from bank subsidiary,net 22 92 Deferred tax asset, net 2,230 2,643 Other assets 1,616 2,085 Total assets $ 989,727 $ 965,905 LIABILITIES AND STOCKHOLDERS’ EQUITY Dividend payable 6,504 6,501 Due to affiliates - 237 Accrued expenses and other liabilities 2,033 2,673 Subordinated capital notes 36,083 36,083 Total liabilities 44,620 45,494 Stockholders’ equity 945,107 920,411 Total liabilities and stockholders’ equity $ 989,727 $ 965,905 O FG BANCORP CON DENSED STATEMENTS OF OPERATIONS INFORMATION (Holding Company Only) Year Ended December 31, 2017 2016 2015 (In thousands) Income: Interest income $ 188 $ 174 $ 321 Gain on sale of securities - 211 - Investment trading activities, net and other 4,511 4,066 4,007 Total income 4,699 4,451 4,328 Expenses: Interest expense 1,556 1,370 1,222 Operating expenses 6,700 7,179 6,866 Total expenses 8,256 8,549 8,088 (Loss) before income taxes (3,557) (4,098) (3,760) Income tax expense (benefit) 403 518 (3,088) (Loss) before changes in undistributed earnings of subsidiaries (3,960) (4,616) (672) Equity in undistributed earnings from: Bank subsidiary 51,612 58,580 (3,804) Nonbank subsidiaries 4,994 5,222 1,972 Net income (loss) $ 52,646 $ 59,186 $ (2,504) O FG BANCORP CON DENSED STATEMENTS OF COMPREHENSIVE INCOME INFORMATION (Holding Company Only) Year ended December 31, 2017 2016 2015 (In thousands) Net income (loss) $ 52,646 $ 59,186 $ (2,504) Other comprehensive (loss) before tax: Unrealized loss on securities available-for-sale - (204) (170) Other comprehensive income from bank subsidiary (4,545) (12,238) (5,578) Other comprehensive (loss) before taxes (4,545) (12,442) (5,748) Income tax effect - 41 34 Other comprehensive (loss) income after taxes (4,545) (12,401) (5,714) Comprehensive income (loss) $ 48,101 $ 46,785 $ (8,218) OFG BANCORP CON DENSED STATEMENTS OF CASH FLOWS INFORMATION (Holding Company Only) Year Ended December 31, 2017 2016 2015 (In thousands) Cash flows from operating activities: Net income (loss) $ 52,646 $ 59,186 $ (2,504) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Equity in undistributed earnings from banking subsidiary (51,612) (58,580) 3,804 Equity in undistributed earnings from nonbanking subsidiaries (4,994) (5,222) (1,972) Amortization of investment securities premiums, net of accretion of discounts - 12 44 Realized gain on sale of securities - 211 - Stock-based compensation 1,109 1,270 1,637 Employee benefit adjustment (99) - - Deferred income tax, net 414 444 (3,088) Net decrease in other assets (205) 42 148 Net (decrease) in accrued expenses, other liabilities, and dividend payable (1,185) 800 (221) Dividends from banking subsidiary 26,743 17,600 45,000 Dividends from non-banking subsidiary 4,002 6,000 - Net cash provided by operating activities 26,819 21,763 42,848 Cash flows from investing activities: Maturities and redemptions of investment securities available-for-sale - 702 2,013 Proceeds from sales of investment securities available-for-sale - 4,888 - Net decrease (increase) in due from bank subsidiary, net 307 317 317 Proceeds from sales of premises and equipment - 324 - Capital contribution to banking subsidiary (788) (894) (1,167) Capital contribution to non-banking subsidiary (50) (68) (94) Additions to premises and equipment (19) (381) (132) Net cash (used in) provided by investing activities (550) 4,888 937 Cash flows from financing activities: Proceeds from (payments to) exercise of stock options and lapsed restricted units, net - (315) 204 Purchase of treasury stock - - (8,950) Dividends paid (24,412) (24,003) (31,623) Net cash used in financing activities (24,412) (24,318) (40,369) Net change in cash and cash equivalents 1,857 2,333 3,416 Cash and cash equivalents at beginning of year 22,573 20,240 16,824 Cash and cash equivalents at end of year $ 24,430 $ 22,573 $ 20,240 |
Accounting Policies (Policies)
Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Nature of Operations Oriental is a publicly-owned financial holding company incorporated under the laws of the Commonwealth of Puerto Rico. Oriental operates through various subsidiaries including, a commercial bank, Oriental Bank (the “Bank”), a securit ies broker-dealer, Oriental Financial Services Corp. (“Oriental Financial Services”), an insurance agency, Oriental Insurance, LLC (“Oriental Insurance”), and a retirement plan administrator, Oriental Pension Consultants, Inc. (“OPC”). Oriental also has a special purpose entity, Oriental Financial (PR) Statutory Trust II (the “Statutory Trust II”). Through these subsidiaries and their respective divisions, Oriental provides a wide range of banking and financial services such as commercial, consumer and mort gage lending, leasing, auto loans, financial planning, insurance sales, money management and investment banking and brokerage services, as well as corporate and individual trust services. The main offices of Oriental and its subsidiaries are located in San Juan, Puerto Rico, except for OPC, which is located in Boca Raton, Florida. Oriental is subject to supervision and regulation by the Board of Governors of the Federal Reserve System (the “Federal Reserve Board”) under the U.S. Bank Holding Company Act of 1956, as amended, and the Dodd-Frank Act. The Bank is subject to the supervision, examination and regulation of the Office of the Commissioner of Financial Institutions of Puerto Rico (“OCFI”) and the Federal Deposit Insurance Corporation ( “FDIC”). The Bank offers banking services such as commercial and consumer lending, leasing, auto loans, savings and time deposit products, financial planning, and corporate and individual trust services, and capitalizes on its commercial banking network to provide mortgage lending products to its clients. The Bank has an operating subsidiary, OFG USA, which is a commercial lender organized in Delaware and based in Cornelius, North Carolina. Oriental International Bank Inc. (“OIB”), a wholly-owned subsidiary of the Bank, and Oriental Overseas, a division of the Bank, are international banking entities licensed pursuant to the International Banking Center Regulatory Act of Puerto Rico, as amended. OIB and Oriental Overseas offer the Bank certain Puerto Rico tax advant ages. Their activities are limited under Puerto Rico law to persons located in Puerto Rico with assets/liabilities located outside of Puerto Rico. Oriental Financial Services is a securities broker-dealer and is subject to the supervision, examination an d regulation of the Financial Industry Regulatory Authority (“FINRA”), the SEC, and the OCFI. Oriental Financial Services is also a member of the Securities Investor Protection Corporation. Oriental Insurance is an insurance agency and is subject to the s upervision, examination and regulation of the Office of the Commissioner of Insurance of Puerto Rico. Oriental’s mortgage banking activities are conducted through a division of the Bank. The mortgage banking activities include the origination of mortgage loans for the Bank’s own portfolio, and the sale of loans directly in the secondary market or the securitization of conforming loans into mortgage-backed securities. The Bank originates Federal Housing Administration (“FHA”) insured and Veterans Administr ation (“VA”) guaranteed mortgages that are primarily securitized for issuance of Government National Mortgage Association (“GNMA”) mortgage-backed securities which can be resold to individual or institutional investors in the secondary market. Conventional loans that meet the underwriting requirements for sale or exchange under certain Federal National Mortgage Association (“FNMA”) or Federal Home Loan Mortgage Corporation (“FHLMC”) programs are referred to as conforming mortgage loans and are also securiti zed for issuance of FNMA or FHLMC mortgage-backed securities. The Bank is an approved seller of FNMA, as well as FHLMC, mortgage loans for issuance of FNMA and FHLMC mortgage-backed securities. The Bank is also an approved issuer of GNMA mortgage-backed se curities. The Bank is the master servicer of the GNMA, FNMA and FHLMC pools that it issues and of its mortgage loan portfolio, and has a subservicing arrangement with a third party for a portion of its acquired loan portfolio. During 2016, Oriental began s ervicing most of its mortgage loan portfolio. On December 18, 2012, Orienal purchased from Banco Bilbao Vizcaya Argentaria, S. A. (“BBVA”), all of the outstanding common stock of each of (i) BBVAPR Holding Corporation (“BBVAPR Holding”), the sole shareholder of Banco Bilbao Vizcaya Argentaria Puerto Rico (“BBVAPR Bank”), a Puerto Rico chartered commercial bank, and BBVA Seguros, Inc. (“BBVA Seguros”), a subsidiary offering insurance services, and (ii) BBVA Securities of Puerto Rico, Inc. (“BBVA Sec urities”), a registered broker-dealer. This transaction is referred to as the “BBVAPR Acquisition” and BBVAPR Holding, BBVAPR Bank, BBVA Seguros and BBVA Securities are collectively referred to as the “BBVAPR Companies” or “BBVAPR.” |
Consolidation Policy | Principles of Consolidation The accompanying consolidated financial statements include the accounts of OFG Bancorp and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. The Statutory Trust II is exempt from the consolidation requirements of GAAP. |
Use Of Estimates | Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affe ct the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amount of revenue and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate mainly to the determination of the allowance for loan and lease losses, the valuation of securities and derivative instruments, revisions to expected cash flows in acquired loans, accounting for the indemnification asset, the valuation of the true up payment obligation, the determination of income taxes, other-than-temporary impairment of securities, and goodwill valuation and impa irment assessment. |
Cash And Cash Equivalents Policy | Cash Equivalents Oriental considers as cash equivalents all money market instruments that are not pledged and that have maturities of three months or less at the date of acquisition. |
Earnings Per Share Policy Text Block | Earnings (Loss) per Common Share Basic earnings (loss) per share is calculated by dividing income (loss) available to common shareholders (net income (loss) reduced (increased) by dividends on preferred stock) by the weighted average of outstanding common shares. Diluted earnings (loss) per share is si milar to the computation of basic earnings (loss) per share except that the weighted average of common shares is increased to include the number of additional common shares that would have been outstanding if the potentially dilutive common shares underlyi ng stock options and restricted units had been issued, assuming that proceeds from exercise are used to repurchase shares in the market (treasury stock method). Any stock splits and dividends are retroactively recognized in all periods presented in the con solidated financial statements. |
Repurchase And Resale Agreements Policy | Securities Purchased/Sold Under Agreements to Resell/Repurchase Oriental purchases securities under agreements to resell the same or similar securities. Amounts advanced under these agreements represent short-term loans and are reflected as assets in the consolidated statements of financial condition. It is Oriental ’s policy to take possession of securities purchased under resale agreements while the counterparty retains effective control over the securities. Oriental mon itors the fair value of the underlying securities as compared to the related receivable, including accrued interest, and requests additional collateral when deemed appropriate. Oriental also sells securities under agreements to repurchase the same or similar securities. Oriental retains effective control over the securities sold under these agreements. Accordingly, such agreements are treated as financing arrangements, and the obligation s to repurchase the securities sold are reflected as liabilities. The securities underlying the financing agreements remain included in the asset accou nts. The counterparty to repurchase agreements generally has the right to repledge the securities receive d as collateral. |
Marketable Securities Policy | Investment Securities Securities are classified as held-to-maturity, available-for-sale or trading. Securities for which Oriental has the intent and ability to hold until maturity are classified as held-to-maturity and are carried at amortized cost. Securities that might be sold prior to maturity because of interest rate changes to meet liquidity needs or to better match the reprici ng characteristics of funding sources are classified as available-for-sale. These securities are reported at fair value, with unrealized gains and losses excluded from earnings and reported net of tax in other comprehensive income (loss). Oriental classi fies as trading those securities that are acquired and held principally for the purpose of selling them in the near future. These securities are carried at fair value with realized and unrealized changes in fair value included in earnings in the period in which the changes occur. Oriental’s investment in the Federal Home Loan Bank of New York (“FHLB -NY ”) stock, a restricted security, has no readily determinable fair value and can only be sold back to the FHLB-NY at cost. Therefore, these stock shares are d eemed to be nonmarketable equity securities and are carried at cost. Premiums and discounts are amortized to interest income over the life of the related securities using the interest method. Net realized gains or losses on sales of investment securities and unrealized gains and losses valuation adjustments considered other than temporary, if any, on securities classified as either available-for-sale or held-to-maturity are reported separately in the statements of operations. The cost of securities sold i s determined by the specific identification method. |
Fair Value of Financial Instruments Policy | Financial Instruments Certain financial instruments, including derivatives, trading securities and investment securities available-for-sale, are recorded at fair value and unrealized gains and losses a re recorded in other comprehensive income (loss) or as part of non-interest income, as appropriate. Fair values are based on listed market prices, if available. If listed market prices are not available, fair value is determined based on other relevant fac tors, including price quotations for similar instruments. The fair values of certain derivative contracts are derived from pricing models that consider current market and contractual prices for the underlying financial instruments as the well as time value and yield curve or volatility factors underlying the positions. Oriental determines the fair value of its financial instruments based on the fair value measurement framework, which establishes a fair value hierarchy that prioritizes the inputs of valuat ion techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurement s). The three levels of the fair value hierarchy are described below: Level 1 — Level 1 assets and liabilities include equity securities that are traded in an active exchange market. Valuations are obtained from readily available pricing sources for mark et transactions involving identical assets or liabilities. Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially th e full term of the assets or liabilities. Level 2 assets and liabilities include (i) mortgage-backed securities for which the fair value is estimated based on valuations obtained from third-party pricing services for identical or comparable assets, (ii) de bt securities with quoted prices that are traded less frequently than exchange-traded instruments and (iii) derivative contracts and financial liabilities whose value is determined using a pricing model with inputs that are observable in the market or can be derived principally from or corroborated by observable market data. Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilitie s include financial instruments whose value is determined using pricing models for which the determination of fair value requires significant management judgment or estimation. |
Impaired Financing Receivable Policy | Impairment of Investment Securities Oriental conducts periodic reviews to identify and evaluate each investment in an unrealized loss position for other-than-temporary impairment. Oriental separates the amount of total impairment into credit and noncredit-related amounts. The term “other-than-temporary impairment” is not intend ed to indicate that the decline is permanent, but indicates that the prospects for a near-term recovery of value is not favorable, or that there is a lack of evidence to support a realizable value equal to or greater than the carrying value of the investme nt. Any portion of a decline in value associated with a credit loss is recognized in income, while the remaining noncredit-related component is recognized in other comprehensive income (loss). A credit loss is determined by assessing whether the amortized cost basis of the security will be recovered by comparing it to the present value of cash flows expected to be collected from the security discounted at the rate equal to the yield used to accrete current and prospective beneficial interest for the securit y. The shortfall of the present value of the cash flows expected to be collected in relation to the amortized cost basis is considered to be the “credit loss.” Oriental’s review for impairment generally entails, but is not limited to: • the identifica tion and evaluation of investments that have indications of possible other-than-temporary impairment; • the analysis of individual investments that have fair values less than amortized cost, including consideration of the length of time the investment ha s been in an unrealized loss position, and the expected recovery period; • the financial condition of the issuer or issuers; • the creditworthiness of the obligor of the security; • actual collateral attributes; • any rating changes by a rating age ncy; • current analysts’ evaluations; • the payment structure of the debt security and the likelihood of the issuer being able to make payments; • current market conditions; • adverse conditions specifically rel ated to the security, industry, or a geographic area; • Oriental’s intent to sell the debt security; • whether it is more-likely-than-not that Oriental will be required to sell the debt security before its anticipated recovery; and • other qualitativ e factors that could support or not an other-than-temporary impairment. |
Derivatives Policy Text Block | Derivative Instruments and Hedging Activities Oriental’s overall interest rate risk-management strategy incorporates the use of derivative instruments to minimize significant unpla nned fluctuations in earnings that are caused by interest rate volatility. Oriental’s goal is to manage interest rate sensitivity by modifying the repricing or maturity characteristics of certain balance sheet assets and liabilities so that the net interes t margin is not, on a material basis, adversely affected by movements in interest rates. As a result of interest rate fluctuations, hedged fixed-rate assets and liabilities will appreciate or depreciate in market value. Also, for some fixed-rate assets or liabilities, the effect of this variability in earnings is expected to be substantially offset by Oriental’s gains and losses on the derivative instruments that are linked to the forecasted cash flows of these hedged assets and liabilities. Oriental consid ers its strategic use of derivatives to be a prudent method of managing interest-rate sensitivity as it reduces the exposure of earnings and the market value of its equity to undue risk posed by changes in interest rates. The effect of this unrealized appr eciation or depreciation is expected to be substantially offset by Oriental’s gains or losses on the derivative instruments that are linked to these hedged assets and liabilities. Another result of interest rate fluctuations is that the contractual interes t income and interest expense of hedged variable-rate assets and liabilities, respectively, will increase or decrease. Derivative instruments that are used as part of Oriental’s interest rate risk-management strategy include interest rate swaps, caps, fo rward-settlement swaps, and futures contracts. Interest rate swaps generally involve the exchange of fixed and variable-rate interest payments between two parties based on a common notional principal amount and maturity date. Interest rate futures generall y involve exchange-traded contracts to buy or sell U.S. Treasury bonds and notes in the future at specified prices. Interest rate options represent contracts that allow the holder of the option to (i) receive cash or (ii) purchase, sell, or enter into a fi nancial instrument at a specified price within a specified period. Some purchased option contracts give Oriental the right to enter into interest rate swaps and cap and floor agreements with the writer of the option. In addition, Oriental enters into certa in transactions that contain embedded derivatives. When the embedded derivative possesses economic characteristics that are not clearly and closely related to the economic characteristics of the host contract, it is bifurcated and carried at fair value. When using derivative instruments, Oriental exposes itself to credit and market risk. If a counterparty fails to fulfill its performance obligations under a derivative contract due to insolvency or any other event of default, Oriental’s credit risk will eq ual the fair value gain in a derivative plus any cash or securities that may have been delivered to the counterparty as part of the transaction terms. Generally, when the fair value of a derivative contract is positive, this indicates that the counterparty owes Oriental, thus creating a repayment risk for Oriental. This risk is generally mitigated by requesting cash or securities from the counterparty to cover the positive fair value. When the fair value of a derivative contract is negative, Oriental owes t he counterparty and, therefore, assumes no credit risk other than to the extent that the cash or value of the collateral delivered as part of the transactions exceeds the fair value of the derivative. Oriental minimizes the credit (or repayment) risk in de rivative instruments by entering into transactions with high-quality counterparties. Oriental uses forward-settlement swaps to hedge the variability of future interest cash flows of forecasted wholesale borrowings attributable to changes in LIBOR. Once t he forecasted wholesale borrowing transactions occur, the interest rate swap will effectively lock-in Oriental’s interest rate payments on an amount of forecasted interest expense attributable to the one-month LIBOR corresponding to the swap notional amoun t. By employing this strategy, Oriental minimizes its exposure to volatility in LIBOR. As part of this hedging strategy, Oriental formally documents all relationships between hedging instruments and hedged items, as the well as its risk-management object ive and strategy for undertaking various hedging transactions. This process includes linking all derivatives that are designated as cash flow hedges to (i) specific assets and liabilities on the balance sheet or (ii) specific firm commitments or forecasted transactions. Oriental also formally assesses (both at the hedge’s inception and on an ongoing basis) whether the derivatives that are used in hedging transactions have been highly effective in offsetting changes in the fair value or cash flows of hedged items and whether those derivatives may be expected to remain highly effective in future periods. The changes in fair value of the forward-settlement swaps are recorded in accumulated other comprehensive income (loss) to the extent there is no significant ineffectiveness. Oriental discontinues hedge accounting prospectively when (i) it determines that the derivative is no longer effective in offsetting changes in the cash flows of a hedged item (including hedged items such as firm commitments or forecaste d transactions); (ii) the derivative expires or is sold, terminated, or exercised; (iii) it is no longer probable that the forecasted transaction will occur; (iv) a hedged firm commitment no longer meets the definition of a firm commitment; or (v) manageme nt determines that designating the derivative as a hedging instrument is no longer appropriate or desired. Oriental’s derivative activities are monitored by its Asset/Liability Management Committee which is also responsible for approving hedging strategi es that are developed through its analysis of data derived from financial simulation models and other internal and industry sources. The resulting hedging strategies are then incorporated into Oriental’s overall interest rate risk-management. |
Off-Balance-Sheet Credit Exposure Policy | Off-Balance Sheet Instruments In the ordinary course of business, Oriental enters into off-balance sheet instruments consisting of commitments to extend credi t, further discussed in Note 26 hereto. Such financial instruments are recorded in the financial statements when these are funded or related fees are incurred or received. Oriental periodically evaluates the credit risks inherent in these commitments and establishes accruals for such risks if and when these are deemed necessary. |
Loans And Leases Receivable Mortgage Banking Activities Policy | Mortgage Banking Ac tivities and Loans Held-For-Sale The residential mortgage loans reported as held-for-sale are stated at the lower of cost or fair value, cost being determined on the outstanding loan balance less unearned income, and fair value determined in the aggregat e. Net unrealized losses are recognized through a valuation allowance by charges to income. Realized gains or losses on these loans are determined using the specific identification method. Loans held-for-sale include all conforming mortgage loans originate d and purchased, which from time to time Oriental sells to other financial institutions or securitizes conforming mortgage loans into GNMA, FNMA and FHLMC pass-through certificates. |
Transfers And Servicing Of Financial Assets Servicing Of Financial Assets Policy | Accounting for Transfers and Servicing of Financial Assets and Extinguis hment of Liabilities Oriental recognizes the financial and servicing assets it controls and the liabilities it has incurred, derecognizes financial assets when control has been surrendered, and derecognizes liabilities when extinguished. Oriental is not engaged in sales of mortgage loans and mortgage-backed securities subject to recourse provisions except for those provisions that allow for the repurchase of loans as a result of a breach of certain representations and warranties other than those related t o the credit quality of the loans included in the sale transactions. The transfer of an entire financial asset, a group of entire financial assets, or a participating interest in an entire financial asset in which Oriental surrenders control over the ass ets is accounted for as a sale if all of the following conditions set forth in Accounting Standards Codification ("ASC") Topic 860 are met: (i) the assets must be isolated from creditors of the transferor, (ii) the transferee must obtain the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (iii) the transferor cannot maintain effective control over the transferred assets through an agreement to repurchase them before their mat urity. When Oriental transfers financial assets and the transfer fails any one of these criteria, Oriental is prevented from derecognizing the transferred financial assets and the transaction is accounted for as a secured borrowing. For federal and Puerto Rico income tax purposes, Oriental treats the transfers of loans which do not qualify as “true sales” under the applicable accounting guidance, as sales, recognizing a deferred tax asset or liability on the transaction. For transfers of financial assets th at satisfy the conditions to be accounted for as sales, Oriental derecognizes all assets sold; recognizes all assets obtained and liabilities incurred in consideration as proceeds of the sale, including servicing assets and servicing liabilities, if applic able; initially measures at fair value assets obtained and liabilities incurred in a sale; and recognizes in earnings any gain or loss on the sale. The guidance on transfer of financial assets requires a true sale analysis of the treatment of the transfer under state law as if Oriental was a debtor under the bankruptcy code. A true sale legal analysis includes several legally relevant factors, such as the intent of the parties, the nature and level of recourse to the transferor, and the nature of retained i nterests in the loans sold. The analytical conclusion as to a true sale is never absolute and unconditional, but contains qualifications based on the inherent equitable powers of a bankruptcy court, as well as the unsettled state of the common law. Once th e legal isolation test has been met, other factors concerning the nature and extent of the transferor’s control over the transferred assets are taken into account in order to determine whether derecognition of assets is warranted. When Oriental sells or securitizes mortgage loans, it generally makes customary representations and warranties regarding the characteristics of the loans sold. Conforming conventional mortgage loans are combined into pools which are exchanged for FNMA and GNMA mortgage-backed se curities, which are generally sold to private investors, or sold directly to FNMA or other private investors for cash. To the extent the loans do not meet the specified characteristics, investors are generally entitled to require Oriental to repurchase suc h loans or indemnify the investor against losses if the assets do not meet certain guidelines. GNMA programs allow financial institutions to buy back individual delinquent mortgage loans that meet certain criteria from the securitized loan pool for which O riental provides servicing. At Oriental’s option and without GNMA prior authorization, Oriental may repurchase such delinquent loans for an amount equal to 100% of the loan’s remaining principal balance. This buy-back option is considered a conditional opt ion until the delinquency criteria is met, at which time the option becomes unconditional. When the loans backing a GNMA security are initially securitized, Oriental treats the transaction as a sale for accounting purposes because the conditional nature of the buy-back option means that Oriental does not maintain effective control over the loans, and therefore these are derecognized from the statement of financial condition. When individual loans later meet GNMA’s specified delinquency criteria and are elig ible for repurchase, Oriental is deemed to have regained effective control over these loans, and these must be brought back onto Oriental’s books as assets, regardless of whether Oriental intends to exercise the buy-back option. Quality review procedures a re performed by Oriental as required under the government agency programs to ensure that asset guideline qualifications are met. Oriental has not recorded any specific contingent liability in the consolidated financial statements for these customary repres entation and warranties related to loans sold by Oriental, and management believes that, based on historical data, the probability of payments and expected losses under these representation and warranty arrangements is not significant. Oriental has liabil ity for residential mortgage loans sold subject to credit recourse , principally loans associated with FNMA residential mortgage loan sales and securitization programs . In the event of any customer default, pursuant to the credit recourse provided, Oriental is required to repurchase the loan or reimburse the third party investor for the incurred loss. The maximum potential amount of future payments that Oriental would be required to make under the recourse arrangements in the event of nonperformance by the b orrowers is equivalent to the total outstanding balance of the residential mortgage loans serviced with recourse and interest, if applicable. In the event of nonperformance by the borrower, Oriental has rights to the underlying collateral securing the mort gage loan. Oriental 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. Oriental has established a liability to cover the estimated credit loss exposure related to loans sold with credit recourse. The estimated losses to be absorbed under the credit recourse arrangemen ts are recorded as a liability when the loans are sold or credit recourse is assumed as part of acquired servicing rights, and are updated by accruing or reversing expense (categorized in the line item "mortgage banking activities" in the consolidated stat ements of operations) throughout the life of the loan, as necessary, when additional relevant information becomes available. The methodology used to estimate the recourse liability is a function of the recourse arrangements given and considers a variety of factors, which include actual defaults and historical loss experience, foreclosure rate, estimated future defaults and the probability that a loan would be delinquent. Statistical methods are used to estimate the recourse liability. The expected loss, whi ch represents the amount expected to be lost on a given loan, considers the probability of default and loss severity. The probability of default represents the probability that a loan in good standing would become 12 0 days delinquent within the following t welve-month period. Servicing Assets Oriental periodically sells or securitizes mortgage loans while retaining the obligation to perform the servicing of such loans. In addition, Oriental may purchase or assume the right to service mortgage loans originated by others. Whenever Oriental undertakes an obligation to service a loan, management assesses whether a servicing asset and/or liability should be recognized. A servicing asset is recognized whenever the compensation for servicing is expected to more than adequately compensate Oriental for servicing the loans. Likewise, a servicing liability would be recognized in the event that servicing fees to be received are not expected to adequately compensate Oriental for its expected cost. All separately recognized servicing assets are recognized at fair value using the fair value measurement method. Under the fair value measurement method, Oriental measures servicing rights at fair value at each reporting date and reports changes in fair value of servici ng asset in the statement of operations in the period in which the changes occur, and includes these changes, if any, with mortgage banking activities in the consolidated statement of operations. The fair value of servicing rights is subject to fluctuation s as a result of changes in estimated and actual prepayment speeds and default rates and losses. The fair value of servicing rights is estimated by using a cash flow valuation model which calculates the present value of estimated future net servicing cas h flows, taking into consideration actual and expected loan prepayment rates, discount rates, servicing costs, and other economic factors, which are determined based on current market conditions. |
Policy Loans Receivable Policy | Loans and Leases Originated and Other Loans and Leases He ld in Portfolio Loans that Oriental originates and intends to hold in portfolio are stated at the principal amount outstanding, adjusted for unamortized deferred fees and costs which are amortized to interest income over the expected life of the loan usin g the interest method. Oriental discontinues accrual of interest on originated loans after payments become more than 90 days past due or earlier if Oriental does not expect the full collection of principal or interest. The delinquency status is based upon the contractual terms of the loans. Loans for which the recognition of interest income has been discontinued are designated as non-accruing. Collections are accounted for on the cash method thereafter, until qualifying to return to accrual status. Such l oans are not reinstated to accrual status until interest is received on a current basis and other factors indicative of doubtful collection cease to exist. The determination as to the ultimate collectability of the loan’s balance may involve management’s judgment in the evaluation of the borrower’s financial condition and prospects for repayment. Oriental follows a systematic methodology to establish and evaluate the adequacy of the allowance for loan and lease losses to provide for inherent losses in the loan portfolio. This methodology includes the consideration of factors such as economic conditions, portfolio risk characteristics, prior loss experience, and results of periodic credit reviews of individual loans. The provision for loan and lease losses charged to current operations is based on such methodology. Loan and lease losses are charged and recoveries are credited to the allowance for loan and lease losses on originated and other loans. Larger commercial loans that exhibit potential or observed credit weaknesses are subject to individual review and grading. Where appropriate, allowances are allocated to individual loans based on management’s estimate of the borrower’s ability to repay the loan given the availability of collateral, other sources of cash flow, and legal options available to Oriental. Included in the review of individual loans are those that are impaired. A loan is considered impaired when, based on current information and events, it is probable that Oriental will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Impaired loans are measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate , or as a practical expedient, at the observable market price of the loan or the fair value of the collateral, if the loan is collateral dependent. Loans are individually evaluated for impairment, except large groups of small balance homogeneous loans that are collectively evaluated for impairment and loans that are recorded at fair value or at the lower of cost or fair value. Oriental measures for impairment all commercial loans over $250 thousand (i) that are either over 90 days past due or adversely clas sified, (ii) that are troubled-debt restructurings (each a " TDR’s”), or (iii) when deemed necessary by management. The portfolios of mortgage loans, auto and leasing, and consumer loans are considered homogeneous and are evaluated collectively for impairme nt. Oriental uses a rating system to apply an overall allowance percentage to each originated and other loan portfolio segment based on historical credit losses adjusted for current conditions and trends. The historical loss experience is determined by p ortfolio segment and is based on the actual loss history experienced by Oriental over a determined look back period for each segment. The actual loss factor is adjusted by the appropriate loss emergence period as calculated for each portfolio. Then, the ad justed loss experience is supplemented with other qualitative factors based on the risks present for each portfolio segment. These qualitative factors include consideration of the following: the credit grading assigned to commercial loans; levels of and tr ends in delinquencies and impaired loans; levels of and trends in charge-offs and recoveries; trends in volume and terms of loans; effects of any changes in risk selection and underwriting standards; other changes in lending policies, procedures, and pract ices; experience, ability, and depth of lending management and other relevant staff, including the bank’s loan review system as graded by regulatory agencies in their last examination; local economic trends and conditions; industry conditions; effects of e xternal factors such as competition and regulatory requirements on the level of estimated credit losses in the current portfolio; and effects of changes in credit concentrations and collateral value. An additional impact from the historical loss experienc e is applied based on levels of delinquency, loan classification, FICO score and/or origination date, depending on the portfolio. At origination, a determination is made whether a loan will be held in our portfolio or is intended for sale in the secondar y market. Loans that will be held in Oriental’s portfolio are carried at amortized cost. Residential mortgage loans held for sale are recorded at the lower of the aggregate cost or market value (“LOCOM”). Acquired Loans and Leases Loans that Oriental acquires in acquisitions are recorded at fair value with no carryover of the related allowance for loan losses. Determining the fair value of the loans involves estimating the amount and timing of principal and interest cash flows expected to be collected on the loans and discounting those cash flows at a market rate of interest. Oriental has acquired loans in two separate acquisitions, the BBVAPR Acquisition in December 2012 and the FDIC-assisted Eurobank acquisition in April 2010. For each acquisition, O riental considered the following factors as indicators that an acquired loan had evidence of deterioration in credit quality and was therefore in the scope of ASC 310-30: Loans that were 90 days or more past due ; Loans that had an internal risk rating of substandard or worse (s ubstandard is consistent with regulatory definitions and is defined as having a well-defined weakness that jeopardizes liquidation of the loan ); Loans that were classified as nonaccrual by the acquired bank at the time of acquisiti on ; and Loans that had been previously modified in a TDR . Any acquired loans that were not individually in the scope of ASC 310-30 because they did not meet the criteria above were either (i) pooled into groups of similar loans based on the borrower type , loan purpose, and collateral type and accounted for under ASC 310-30 by analogy or (ii) accounted for under ASC 310-20 (non-refundable fees and other costs). Acquired Loans Accounted for under ASC 310-20 (loans with revolving feature and/or acquired at a premium) Revolving credit facilities such as credit cards, retail and commercial lines of credit and floor plans which are specifically scoped out of ASC 310-30 are accounted for under the provisions of ASC 310-20. Also, performing auto loans with F ICO scores over 660 acquired at a premium in the BBVAPR Acquisition are accounted for under this guidance. Auto loans with FICO scores below 660 were acquired at a discount and are accounted for under the provisions of ASC 310-30. The provisions of ASC 3 10-20 require that any differences between the contractually required loan payments in excess of Oriental’s initial investment in the loans be accreted into interest income on a level-yield basis over the life of the loan. Loans acquired in the BBVAPR Acqu isition that were accounted for under the provisions of ASC 310-20 which had fully amortized their premium or discount, recorded at the date of acquisition, are removed from the acquired loan category. Loans accounted for under ASC 310-20 are placed on non -accrual status when past due in accordance with Oriental’s non-accruing policy and any accretion of discount is discontinued. These assets were recorded at estimated fair value on their acquisition date, incorporating an estimate of future expected cash f lows. Such fair value includes a credit discount which accounts for expected loan losses over the estimated life of these loans. Management takes into consideration this credit discount when determining the necessary allowance for acquired loans that are a ccounted for under the provisions of ASC 310-20. The allowance for loan and lease losses model for acquired loans accounted for under ASC 310-20 is the same as for the originated and other loan portfolio. Acquired Loans Accounted under ASC 310-30 (incl uding those accounted for under ASC 310-30 by analogy) Oriental performed a fair market valuation of each of the loan pools, and each pool was recorded at a discount. Oriental determined that at least part of the discount on the acquired individual or po ols of loans was attributable to credit quality by reference to the valuation model used to estimate the fair value of these pools of loans. The valuation model incorporated lifetime expected credit losses into the loans’ fair valuation in consideration of factors such as evidence of credit deterioration since origination and the amounts of contractually required principal and interest that Oriental did not expect to collect as of the acquisition date. Based on the guidance included in the December 18, 2009 letter from the AICPA Depository Institutions Panel to the Office of the Chief Accountant of the SEC, Oriental has made an accounting policy election to apply ASC 310-30 by analogy to all of these acquired pools of loans as they all (i) were acquired in a business combination or asset purchase, (ii) resulted in recognition of a discount attributable, at least in part, to credit quality; and (iii) were not subsequently accounted for at fair value. The excess of expected cash flows from acquired loans over the estimated fair value of acquired loans at acquisition is referred to as the accretable discount and is recognized into interest income over the remaining life of the acquired loans using the interest method. The difference between contractually require d payments at acquisition and the cash flows expected to be collected at acquisition is referred to as the nonaccretable discount. The nonaccretable discount represents estimated future credit losses expected to be incurred over the life of the acquired lo ans. Subsequent decreases to the expected cash flows require Oriental to evaluate the need for an addition to the allowance for loan losses. Subsequent improvements in expected cash flows result in the reversal of the associated allowance for loan losses, if any and the reversal of a corresponding amount of the nonaccretable discount which Oriental then reclassifies as accretable discount that is recognized into interest income over the remaining life of the loan using the interest method. Oriental’s evalua tion of the amount of future cash flows that it expects to collect takes into account actual credit performance of the acquired loans to date and Oriental’s best estimates for the expected lifetime credit performance of the loans using currently available information. Charge-offs of the principal amount on acquired loans would be first applied to the nonaccretable discount portion of the fair value adjustment. In accordance with ASC 310-30, recognition of income is dependent on having a reasonable expecta tion about the timing and amount of cash flows expected to be collected. Oriental performs such an evaluation on a quarterly basis on both its acquired loans individually accounted for under ASC 310-30 and those in pools accounted for under ASC 310-30 by a nalogy. Cash flows for acquired loans individually accounted for under ASC 310-30 are estimated on a quarterly basis. Based on this evaluation, a determination is made as to whether or not Oriental has a reasonable expectation about the timing and amount of cash flows. Such an expectation includes cash flows from normal customer repayment, collateral value, foreclosure or other collection efforts. Cash flows for acquired loans accounted for on a pooled basis under ASC 310-30 by analogy are also estimated on a quarterly basis. For residential real estate, home equity and other consumer loans, cash flow loss estimates are calculated based on a model that incorporates a projected probability of default and loss. For commercial loan s, lifetime loss rates are assigned to each pool with consideration given for pool make-up, including risk rating profile. Lifetime loss rates are developed from internally generated historical loss data and are applied to each pool. To the extent that O riental cannot reasonably estimate cash flows, interest income recognition is discontinued. The unit of account for loans in pools accounted for under ASC 310-30 by analogy is the pool of loans. Accordingly, as long as Oriental can reasonably estimate cash flows for the pool as a whole, accretable yield on the pool is recognized and all individual loans within the pool - even those more than 90 days past due - would be considered to be accruing interest in Oriental’s financial statement disclosures, regardl ess of whether or not Oriental expects any principal or interest cash flows on an individual loan 90 days or more past due. Oriental writes-off the loan’s recorded investment and derecognizes the associated allowance for loan and lease losses for loans th at exit the acquired pools. Effective February 6, 2017, Oriental and the FDIC agreed to terminate the loss and recovery sharing agreements in connection with a portfolio of loans acquired i n the Eurobank FDIC assisted transaction. |
Loans and Leases Receivable Allowance for Loan Losses Policy | Allowance for Loan and Lease Losses Oriental follows a systematic methodology to establish and evaluate the adequacy of the allowance for loan and lease losses to provide for inherent losses in loan portfolio. This methodology includes the consideration of factors such as economic conditions, portfo lio risk characteristics, prior loss experience, and results of periodic credit reviews of individual loans. Oriental ’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. Also, Oriental determines the allowance for loan losses on purchased impaired loans and purchased loans accounted for under ASC Subtopic 310-30 by analogy, by evaluating decreases in expected cash flow s after the acquisition date. The loss factor used for the general reserve of these loans is established considering Oriental’s historical loss experience adjusted for an estimated loss emergence period and the consideration of environmental factors. Envi ronmental factors considered are: change in non-performing loans; migration in classification; trends in charge offs; trends in volume of loans; changes in collateral values; changes in risk selections and underwriting standards, and other changes in lendi ng policies, procedures and practices; experience, ability and depth of lending management and other relevant staff, including Oriental’s loan review system; national and local economic trends and industry conditions; and effect of external factors such as competition and regulatory requirements on the level of estimated credit losses. The sum of the adjusted loss experience factors and the environmental factors will be the general valuation reserve (“GVA”) factor to be used for the determination of the all owance for loan and lease losses in each category. Originated and Other Loans and Leases Held for Investment and Acquired Loans Accounted for under ASC 310-20 (Loans with revolving feature and/or acquired at a premium) Oriental determines the allowance for loan and lease losses by portfolio segment, which consist of mortgage loans, commercial loans, consumer loans, and auto and leasing, as follows: Mortgage loans: These loans are divided into four classes: traditional mortgages, non-traditional mortgage s, loans in loan modification programs and home equity secured personal loans. Traditional mortgage loans include loans secured by a dwelling, fixed coupons and regular amortization schedules. Non-traditional mortgages include loans with interest-first amo rtization schedules and loans with balloon considerations as part of their terms. Mortgages in loan modification programs are loans that are being serviced under such programs. Home equity loans are mainly equity lines of credit. The allowance factor on mo rtgage loans is impacted by the adjusted historical loss factors on the sub-segments and the environmental risk factors described above and by delinquency buckets. The traditional mortgage loan portfolio is further segregated by vintages and then by delin quency buckets. Commercial loans: The commercial portfolio is segmented by business line (corporate, institutional, middle market, corporate retail, floor plan, and real estate) and by collateral type (secured by real estate and other commercial and indu strial assets). The loss factor used for the GVA of these loans is established considering Oriental 's past 36 month historical loss experience of each segment adjusted for the loss realization period and the consideration of environmental factors. The sum of the adjusted loss experience and the environmental factors is the GVA factor used for the determination of the allowance for loan and lease losses on each segment. Consumer loans: The consumer portfolio consists of smaller retail loans such as retail credit cards, overdrafts, unsecured personal lines of credit, and personal unsecured loans. The allowance factor, consisting of the adjusted historical loss factor and the environmental risk factors, will be calculated for each sub-class of loans by delinq uency bucket. Auto and Leasing: The auto and leasing portfolio consists of financing for the purchase of new or used motor vehicles for private or public use. The allowance factor is impacted by the adjusted historical loss factor and the environmental ri sk factors. For the determination of the allowance factor, the portfolio is segmented by FICO score, which is updated on a quarterly basis and then by delinquency bucket Oriental establishes its allowance for loan losses through a provision for credit losses based on our evaluation of the credit quality of the loan portfolio. This evaluation, which includes a review of loans on which full collectability may not be reasonably assured, considers, among other matters, the estimated fair value of the underl ying collateral, economic conditions, historical net loan loss experience, and other factors that warrant recognition in determining our allowance for loan losses. Oriental continues to monitor and modify the level of the allowance for loan losses to ensur e it is adequate to cover losses inherent in our loan portfolio. Our allowance for loan losses consists of the following elements: (i) specific valuation allowances based on probable losses on specifically identified impaired loans; and (ii) valuation al lowances based on net historical loan loss experience for similar loans with similar inherent risk characteristics and performance trends, adjusted, as appropriate, for qualitative risk factors specific to respective loan types. When current information a nd events indicate that it is probable that we will be unable to collect all amounts of principal and interest due under the original terms of a business or commercial real estate loan greater than $250 thousand, such loan will be classified as impaired. A dditionally, all loans modified in a TDR are considered impaired. The need for specific valuation allowances are determined for impaired loans and recorded as necessary. For impaired loans, we consider the fair value of the underlying collateral, less esti mated costs to sell, if the loan is collateral dependent, or we use the present value of estimated future cash flows in determining the estimates of impairment and any related allowance for loan losses for these loans. Confirmed losses are charged off imme diately. Loan loss ratios and credit risk categories, for commercial loans, are updated at least quarterly and are applied in the context of GAAP. Management uses current available information in estimating possible loan and lease losses, factors beyond Oriental’s control, such as those affecting general economic conditions, may require future changes to the allowance. Acquired Loans Accounted for under ASC 310-30 (including those accounted for under ASC 310-30 by analogy) For our acquired loans accoun ted for under ASC 310-30, our allowance for loan losses is estimated based upon our expected cash flows for these loans. To the extent that we experience a deterioration in borrower credit quality resulting in a decrease in the net present value of our exp ected cash flows (which are used as a proxy to identify probable incurred losses) subsequent to the acquisition of the loans, an allowance for loan losses is established based on our estimate of future credit losses over the remaining life of the loans. A cquired loans accounted for under ASC Subtopic 310-30 are not considered non-performing and 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. Also, loans ch arged-off against the non-accretable difference established in purchase accounting are not reported as charge-offs. Charge-offs on loans accounted under ASC Subtopic 310-30 are recorded only to the extent that losses exceed the non-accretable difference es tablished with purchase accounting. For the principal enhancements m anagement made to its methodology, refer to Note 7 . |
Lease Policy Text Block | Lease Financing Oriental leases vehicles for personal and commercial use to individual and corporate customers. The direct finance lease method of accounting is used to recognize revenue on leasing contracts that meet the criteria specified in the guidance for leases in ASC Topic 840. Aggregate rentals due over the term of the leases, less unearned income, are included in lease finan cing contracts receivable. Unearned income is amortized using a method over the average life of the leases as an adjustment to the interest yield. |
Loans and Leases Receivable Troubled Debt Restructuring Policy | Troubled Debt Restructuring A TDR is the restructuring of a receivable in which Oriental, as creditor, grants a concession for legal or economic reasons due to the debtor’s financial difficulties. A concession is granted when, as a result of the restructuring, Oriental does not expect to collect all amounts due, including in terest accrued at the original contract rate. These concessions may include a reduction of the interest rate, principal or accrued interest, extension of the maturity date or other actions intended to minimize potential losses. To assess whether the debt or is having financial difficulties, Oriental evaluates whether it is probable that the debtor will default on any of its debt in the foreseeable future. Receivables that are restructured in a TDR are presumed to be impaired and are subject to a specific impairment-measurement method. If the payment of principal at original maturity is primarily dependent on the value of collateral, Oriental considers the current value of that collateral in determining whether the principal will be paid. For non-collatera l dependent loans, the specific reserve is calculated based on the present value of expected cash flows discounted at the loan’s effective interest rate. An accruing loan that is modified in a TDR can remain in accrual status if, based on a current, well-d ocumented credit analysis, collection of principal and interest in accordance with the modified terms is reasonably assured, and the borrower has demonstrated sustained historical repayment performance for a reasonable period before the modification. |
LiabilityReserveEstimatePolicy | Res erve for Unfunded Commitments The reserve for unfunded commitments is maintained at a level believed by management to be sufficient to absorb estimated probable losses related to unfunded credit facilities and is included in other liabilities in the cons olidated statements of financial condition. The determination of the adequacy of the reserve is based upon an evaluation of the unfunded credit facilities. Net adjustments to the reserve for unfunded commitments are included in other operating expenses in the consolidated statements of operations. |
FDIC Shared Loss Indemnification Asset Policy[Text Block] | FDIC Indemnification Asset and True-up Payment Obligation The FDIC indemnification asset wa s accounted for and measured separately from the covered loans acquired in the FDIC-assisted acquisition as it wa s not contractually embedded in any of the covered loans. The indemnification asset was recorded at fair value at the acquisition date and represent ed the present value of the estimated cash payments expected to be received from the FDIC for future losses on cov ered assets based on the credit adjustment estimated for each covered asset and the shared-loss percentages. This balance also include d incurred expenses under the shared-loss agreements. These cash flows we re then discounted at a market-based rate to refl ect the uncertainty of the timing and receipt of the shared-loss reimbursements from the FDIC. The time value of money incorporated into the present value computation wa s accreted into earnings over the shorter of the life of the shared-loss agreements or the holding period of the covered assets. The FDIC indemnification asset wa s reduced as shared-loss payments we re received from the FDIC. Realized credit losses in excess of acquisition-date estimates result ed in an increase in the FDIC indemnification asset. Conversely, if real ized credit losses we re less than acquisition-date estimates, the FDIC indemnification asset wa s amortized through the term of the shared-loss agreements. The true-up payment obligation associated with the loss share agreements wa s accounted for at fair value in accordance with ASC Section 805-30-25-6 as it wa s considered contingent consideration. The true-up payment obligation wa s included as part of other liabilities in the consolidated statements of financial condition. Any ch anges in the carrying value of the obligation we re included in the category of FDIC loss share income (expense) in the consolidated statements of operations . On February 6, 2017, the Bank and the FDIC agreed to terminate the single family and commercial shared-loss agreements related to the FDIC assisted acquisition of Eurobank on April 30, 2010. As part of the loss share termination transaction, the Bank made a payment of $10.1 million to the FDIC and recorded a net benefit of $1.4 million. Such terminat ion payment took into account the anticipated reimbursements over the life of the shared-loss agreements and the true-up payment liability of the Bank anticipated at the end of the ten - year term of the single family shared-loss agreement. All rights and ob ligations of the parties under the shared-loss agreements terminated as of th e closing date of the agreement . |
Intangible Assets Finite Lived Policy | Goodwill and Intangible Assets Oriental’s goodwill and other identifiable intangible assets having an indefinite useful life are tested for impairment. Intangibles with indefinite lives are evaluated 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 advers e 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. Oriental has the option to first assess qualitative factors to determine whether there are events or circumstances that exist that make it more likely than not that the fair value of the reporting unit is less than its carrying amount. If it is more likely than not that the fair value of the reporting unit is less than its carrying amount, or if Oriental chooses to bypass the qualitative assessment, Oriental compares each reporting unit's fair value to its carrying value to ide ntify potential impairment. If the estimated fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not considered impaired. However, if the carrying amount of the reporting unit were to exceed its estimated fair valu e, a second step would be performed that would compare the implied fair value of the reporting unit's goodwill with the carrying amount. The implied fair value of goodwill is determined in the same manner as goodwill that is recognized in a business combin ation. Significant judgment and estimates are involved in estimating the fair value of the assets and liabilities of the reporting units. Oriental performs annual goodwill impairment test as of October 31 and monitors for interim triggering events on an on going basis. Oriental performed its annual impairment review of goodwill during the fourth quarter of 2017 and 2016 using October 31, 2017 and 2016 as the annual evaluation dates and concluded that there was no impairment at December 31, 2017 and 2016 . |
Finance Loan and Lease Receivables Held for Investments Foreclosed Assets Policy | Fo reclosed Real Estate and Other Repossessed Property Foreclosed real estate and other repossessed property are initially recorded at the fair value of the real estate or repossessed property less the cost of selling it at the date of foreclosure or reposs ession. At the time properties are acquired in full or partial satisfaction of loans, any excess of the loan balance over the estimated fair value of the property is charged against the allowance for loan and lease losses on non-covered loans. After forecl osure or repossession, these properties are carried at the lower of cost or fair value less estimated cost to sell based on recent appraised values or options to purchase the foreclosed or repossessed property. Any excess of the carrying value over the est imated fair value, less estimated costs to sell, is charged to non-interest expense. The costs and expenses associated to holding these properties in portfolio are expensed as incurred. |
Property Plant And Equipment Policy Text Block | Premises and Equipment Premises and equipment are carried at cost less accumulated depreciation. Depreciation is provided using the straight-line method over the estimated useful life of each type of asset. Amortization of leasehold improvements is computed using the straight-line method over the terms of the leases or estimated useful lives of the improvements, whichever is shorter. |
Impairment Or Disposal Of Long Lived Assets Policy Text Block | Impairment of Long-Lived Assets Oriental periodically reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. In performing the review for recoverability, an estimate of the future cash flows expected to result from the use of the asset and its eventual disposition is made. If the sum of the future cash flows (undiscounted and without inter est charges) is less than the carrying amount of the assets, an impairment loss is recognized. The amount of the impairment is the excess of the carrying amount over the fair value of the asset. As of December 31, 201 7 and 201 6 , there was no indication of impairment as a result of such review. |
Income Tax Policy | Income Taxes In preparing the consolidated financial statements, Oriental is required to estimate income taxes. This involves an estimate of current income tax expense together with an assessment of temporary diffe rences resulting from differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The determination of current income tax expense involves estimates and assumptions that require Oriental to assume certain positions based on its interpretation of current tax laws and regulations. Changes in assumptions affecting estimates may be required in the future, and estimated tax assets or liabilities may need to be increased or decr eased accordingly. The accrual for tax contingencies is adjusted in light of changing facts and circumstances, such as the progress of tax audits, case law and emerging legislation. When particular matters arise, a number of years may elapse before such ma tters are audited and finally resolved. Favorable resolution of such matters could be recognized as a reduction to Oriental’s effective tax rate in the year of resolution. Unfavorable settlement of any particular issue could increase the effective tax rate and may require the use of cash in such year. The determination of deferred tax expense or benefit is based on changes in the carrying amounts of assets and liabilities that generate temporary differences. The carrying value of Oriental’s net deferred t ax assets assumes that Oriental will be able to generate sufficient future taxable income based on estimates and assumptions. If these estimates and related assumptions change in the future, Oriental may be required to record valuation allowances against i ts deferred tax assets resulting in additional income tax expense in the consolidated statements of operations. Management evaluates on a regular basis whether the deferred tax assets can be realized and assesses the need for a valuation allowance. A val uation allowance is established when management believes that it is more likely than not that some portion of its deferred tax assets will not be realized. Changes in valuation allowance from period to period are included in Oriental’s tax provision in the period of change. In addition to valuation allowances, Oriental establishes accruals for uncertain tax positions when, despite the belief that Oriental’s tax return positions are fully supported, Oriental believes that certain positions are likely to be challenged. The accruals for uncertain tax positions are adjusted in light of changing facts and circumstances, such as the progress of tax audits, case law, and emerging legislation. The accruals for Oriental’s uncertain tax positions are reflected as in come tax payable as a component of accrued expenses and other liabilities. These accruals are reduced upon expiration of the applicable statute of limitations. Oriental follows a two-step approach for recognizing and measuring uncertain tax positions. Th e first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation pr ocesses, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely to be realized upon ultimate settlement. Oriental’s policy is to include interest and penalties related to unrecognized income tax benefits within the provision for income taxes on the consolidated statements of operations. Oriental is potentially subject to income tax audits in the Commonwealth of Puerto Rico for taxable years 201 4 to 201 7 , until the applicable statute of limitations expire s. Tax audits by their nature are often complex and can require several years to complete. |
Share Based Compensation Option And Incentive Plans Policy | Equity-Based Compensation Plan Oriental’s 2007 Omnibus Performance Incentive Plan, as amended and restated (the “Omnibus Plan”), provides for equity-based compensation incentives through the grant of stock options, stock appreciation rights, restricted stock, restricted units and dividend equivalents, as well as equity-based performance awards. The Omnibus Plan was adopted in 2007, amended and restated in 20 08, and further amended in 2010 and 2013 . The purpose of the Omnibus Plan is to provide flexibility to Oriental to attract, retain and motivate directors, officers, and key employees through the grant of awards based on performance and to adjust its comp ensation practices to the best compensation practice and corporate governance trends as they develop from time to time. The Omnibus Plan is further intended to motivate high levels of individual performance coupled with increased shareholder returns. There fore, awards under the Omnibus Plan (each, an “Award”) are intended to be based upon the recipient’s individual performance, level of responsibility and potential to make significant contributions to Oriental. Generally, the Omnibus Plan will terminate as of (a) the date when no more of Oriental’s shares of common stock are available for issuance under the Omnibus Plan or, (b) if earlier, the date the Omnibus Plan is terminated by Oriental’s Board of Directors. The Board’s Compensation Committee (the “Com mittee”), or such other committee as the Board may designate, has full authority to interpret and administer the Omnibus Plan in order to carry out its provisions and purposes. The Committee has the authority to determine those persons eligible to receive an Award and to establish the terms and conditions of any Award. The Committee may delegate, subject to such terms or conditions or guidelines as it shall determine, to any employee or group of employees any portion of its authority and powers under the Om nibus Plan with respect to participants who are not directors or executive officers subject to the reporting requirements under Section 16(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Only the Committee may exercise authority in respect to Awards granted to such participants. The expected term of stock options granted represents the period of time that such options are expected to be outstanding. Expected volatilities are based on historical volatility of Oriental’s shares o f common stock over the most recent period equal to the expected term of the stock options. For stock options issued during 2015, the expected volatilities are based on both historical and implied volatility of Oriental’s shares of common stock. Oriental follows the fair value method of recording stock-based compensation. Oriental used the modified prospective transition method, which requires measurement of the cost of employee services received in exchange for an award of equity instruments based on the grant date fair value of the award with the cost to be recognized over the service period. It applies to all awards unvested and granted after the effective date and awards modified, repurchased, or cancelled after that date. |
Comprehensive Income Policy Policy Text Block | Comprehensive Income (Loss) Comprehensive income (loss) is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances, except for those resulting from investments by owners and distributions to owners. GAAP requires that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities and on derivative activities that qualify and are desig nated for cash flows hedge accounting, net of taxes, are reported as a separate component of the stockholders’ equity section of the consolidated statements of financial condition, such items, along with net income, are components of comprehensive income ( loss). |
Commitments And Contingencies Policy Text Block | Commitments and Contingencies Liabilities for loss contingencies, arising from claims, assessments, litigation, fines, and penalties and other sources are recorded when it is probable that a lia bility has been incurred and the amount of the asse ssment can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred. |
Subsequent Events Policy | Subsequent Events Oriental has evaluated other events subsequent to the balance sheet date and prior to the filing of this annual report on Form 10-K for the year ended December 31, 2017, and has adjusted and disclosed those events that have occurred that would require adjustment or disclosure in the consolidated financial statements. |
New Accounting Pronouncements Policy [Policy Text Block] | New Accounting Updates Not Yet Adopted Scope of Modification Accounting. In May 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-09 that c larifies when changes to the terms or conditions of a share-based payment award must be accounted for as modifications. Entities will apply the modification accounting guidance if the value, vesting conditions or classification of the award changes. ASU No . 2017-08 is effective for fiscal years, and interim periods, beginning after December 15, 2018, with early adoption permitted. Oriental's Omnibus Plan provides for equity-based compensation incentives through the grant of stock options, stock appreciation rights, restricted stock, restricted stock units, and dividend equivalents, as well as equity-based performance awards. If any change occurs in the future to the Omnibus Plan, Oriental will evaluate it under this guideline. Premium Amortization on Purcha sed Callable Debt Securities Receivables . In March 2017, the FASB issued ASU No. 2017-08, which requires the amortization of the premium on callable debt securities to the earliest call date. The amortization period for callable debt securities purchased at a discount would not be impacted by the ASU. This ASU will be applied prospectively for annual and interim periods in fiscal years beginning after December 15, 2018. The ASU is not expected to have a material impact on Oriental's consolidated financial position or results of operations. At December 31, 2017, Oriental does not have callable debt securities. Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), Health and Welfare Benefit Plans (Topic 9 65): Employee Benefit Plan Master Trust Reporting (a consensus of the Emerging Issues Task Force). In February 2017, the FASB issued ASU No. 2017-06, which intended to reduce diversity and improve the usefulness of information provided by employee benefit plans that hold interests in master trusts. This ASU will be applied prospectively for annual and interim periods in fiscal years beginning after December 15, 2018. The ASU is not expected to have a material impact on Oriental's consolidated financ ial position or results of operations. Simplifying the Test for Goodwill Impairment. In January 2017, the FASB issued ASU No. 2017-04, which simplifies the measurement of goodwill impairment. An entity will no longer perform a hypothetical purchase price allocation to measure goodwill impairment. Instead, impairment will be measured using the difference between the carrying amount and the fair value of the reporting unit. This ASU will be applied prospectively for annual and interim periods in fiscal years beginning after December 15, 2019. We will assess the impact that the adoption of ASU 2017-04 will have on our consolidated financial statements and related disclosures beginning next year. Restricted Cash. In November 2016, the FASB issued ASU No. 2016- 18, which amends Topic 230 (Statement of Cash Flows) and requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. ASU No. 2016-18 is intended to reduce diversity in practice in how restricted cash or restricted cash equivalents are presented and classified in the statement of cash flows. ASU No. 2016-18 is effective for fiscal years, and interim periods, beginning af ter December 15, 2017, with early adoption permitted. The standard requires application using a retrospective transition method. The adoption of ASU No. 2016-18 will change the presentation and classification of restricted cash and restricted cash equivale nts in our consolidated statements of cash flows. Measurement of Credit Losses on Financial Instruments. In June 2016, the FASB issued ASU No. 2016-13, which includes an impairment model (known as the current expected credit loss (CECL) model) that is bas ed on expected losses rather than incurred losses. Under the new guidance, an entity recognizes as an allowance its estimate of expected credit losses. ASU No. 2016-13 is effective for fiscal years, and interim periods, beginning after December 15, 2019. O riental will implement ASU No. 2016-13 on January 1, 2020. While we continue to assess the impact of ASU No. 2016-13, we have developed a roadmap with time schedules in place from 2016 to implementation date. Oriental's cross-functional implementation team has developed a project plan to ensure we comply with all update s from this ASU at the time of adoption. We are in the process of assessing the methodology and the software to be used in order to develop an acceptable model to estimate the expected credit losses. After the model has been developed, reviewed and validated in accordance with our governance policies, Oriental will provide further disclosure regarding the estimated impact on our allowance for loan and lease losses. Also , we are assessing the a dditional disclosure requirements from this update. Although Oriental expects the allowance for credit losses to increase upon adoption with a corresponding adjustment to retained earnings, t he ultimate amount of the increase will depend on the portfolio c omposition, credit quality, economic conditions and reasonable and supportable forecasts at that time . Leases. In February 2016, the FASB issued ASU No. 2016-02, the FASB issued ASU No. 2016-02, which requires lessees to recognize a right-of-use asset and related lease liability for leases classified as operating leases at the commencement date that have lease terms of more than 12 months. This ASU retains the classification distinction between finance leases and operating leases. ASU No. 2016-02 is effect ive for fiscal years, and interim periods, beginning after December 15, 2018. Oriental plans to adopt this guidance effective January 1, 2019 using the required modified retrospective approach, which includes presenting the cumulative effect of initial app lication along with supplementary disclosures. As a lessor and lessee, we do not anticipate the classification of our leases to change, but we expect to recognize right-of-use assets and lease liabilities for substantially virtually all of our operating le ase commitments leases for which we are the lessee as a lease liability and corresponding right-of-use asset on our consolidated financial statements. We have made substantial progress in reviewing contractual arrangements for embedded leases in an effort to identify Oriental ’s full lease population and is presently evaluating all of its leases, as well as contracts that may contain embedded leases, for compliance with the new lease accounting rules. Oriental ’s leases primarily consist of leased office spac e, and information technology eq uipment. At December 31, 2017, Oriental had $34.3 million of minimum lease commitments from these operating leases (refer to Note 25). Although Oriental is still evaluating the impact that the adoption of this accounting pro nouncement will have on its consolidated financial statements, preliminarily it expects that the amounts to be recognized as ROU assets and lease liabilities will be less than 1% of its total assets and will not have a material i mpact on its regulatory cap ital . Revenue from Contracts with Customers. In May 2014, the FASB issued ASU No. 2014-09, which supersedes the revenue recognition requirements Topic 605 (Revenue Recognition), and most industry-specific guidance. ASU No. 2014-09 is based on the principle that revenue is recognized to depict the transfer of goods or services to cu stomers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU No. 2014-09 also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cas h flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. ASU No. 2014-09 permits two methods of adoption: retrospectively to each prior repo rting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (modified retrospective method). In August 2015, the FASB issued ASU No. 2015 -14 to defer the effective date of ASU No. 2014-09 by one year to fiscal years beginning after December 15, 2017. ASU No. 2015-14 also permits early adoption of ASU No. 2014-09, but not before the original effective date, which was for fiscal years beginni ng after December 15, 2016. Oriental will adopt this ASU effective January 1, 2018 using the modified retrospective method . The Company’s implementation efforts included the identification of revenue streams that are within the scope of the new guidance an d the review of related contracts with customers to determine their effect on certain non-interest income items presented in our consolidated statements of operations and the additional presentation disclosures required. We concluded that substantially all of Oriental ’s revenues are generated from activities that are outside the scope of this ASU, and the adoption will not have a material impact on our consolidated financial statements . New Accounting Updates Adopted During the Current Year Improvements t o Employee Share-Based Payment Accounting. In March 2016, the FASB issued ASU No. 2016-09, which simplifies the accounting for share-based payment transactions, including income tax consequences, classification of awards as either equity or liabilities, an d the classification on the statement of cash flows. ASU No. 2016-09 is effective for fiscal years, and interim periods, beginning after December 15, 2016. The adoption of ASU No. 2016-09 on January 1, 2017 did not have a material impact on our consolidate d financial statements and related disclosures. Simplifying the Transition to the Equity Method of Accounting . I n March of 2016, the FASB issued ASU 2016-07, which eliminates the requirement that, when an investment qualifies for use of the equity method of accounting as a result of an increase in the level of ownership interest or degree of influence, an investor must adjust the investment, results of operations, and retained earnings retroactively on a step-by-step basis as if the equity method of accoun ting had been in effect during all previous periods that the investment had been held. The ASU requires that an entity that has available-for-sale securities recognize, through earnings, the unrealized holding gain or loss in accumulated other comprehensiv e income at the date the investment becomes qualified for use of the equity method of accounting. The amendment in this ASU became effective prospectively for Oriental for fiscal periods beginning January 1, 2017. We have adopted this ASU as of January 1, 2017 and concluded that it does not have an impact on our consolidated financial stateme nts . Accounting Changes and Error Corrections. In January of 2017, the FASB issued ASU 2017-03 to enhance the footnote disclosure guidelines for ASUs 2014-09, 2016-02, and 2016-13. The amendments to this transition guidance became effective for Oriental for fiscal years beginning January 1, 2017. We have adopted this ASU as of January 1, 2017 on a prospective basis. We concluded that this ASU does not have a material im pact on our consolidated financial statements . |
Restricted Cash (Tables)
Restricted Cash (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Restricted Cash And Investments Abstract | |
Restricted Cash Components and Its Secured Investments | December 31, 2017 2016 (In thousands) Cash pledged as collateral to other financial institutions to secure: Derivatives $ 1,980 $ 1,980 Obligations under agreement of loans sold with recourse 1,050 1,050 $ 3,030 $ 3,030 |
Investments Securities (Tables)
Investments Securities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Investments [Abstract] | |
Investment Table Text Block | December 31, 2017 Gross Gross Weighted Amortized Unrealized Unrealized Fair Average Cost Gains Losses Value Yield (In thousands) Available-for-sale Mortgage-backed securities FNMA and FHLMC certificates $ 383,194 $ 1,402 $ 2,881 $ 381,715 2.39% GNMA certificates 166,436 1,486 584 167,338 2.94% CMOs issued by US government-sponsored agencies 82,026 - 1,955 80,071 1.90% Total mortgage-backed securities 631,656 2,888 5,420 629,124 2.47% Investment securities US Treasury securities 10,276 - 113 10,163 1.25% Obligations of US government-sponsored agencies 2,927 - 48 2,879 1.38% Obligations of Puerto Rico government and public instrumentalities 2,455 - 362 2,093 5.55% Other debt securities 1,486 52 - 1,538 2.97% Total investment securities 17,144 52 523 16,673 2.04% Total securities available for sale $ 648,800 $ 2,940 $ 5,943 $ 645,797 2.46% Held-to-maturity Mortgage-backed securities FNMA and FHLMC certificates $ 506,064 $ - $ 8,383 $ 497,681 2.07% December 31, 2016 Gross Gross Weighted Amortized Unrealized Unrealized Fair Average Cost Gains Losses Value Yield (In thousands) Available-for-sale Mortgage-backed securities FNMA and FHLMC certificates $ 422,168 $ 6,354 $ 3,036 $ 425,486 2.59% GNMA certificates 163,614 2,241 620 165,235 2.95% CMOs issued by US government-sponsored agencies 103,990 64 2,223 101,831 1.88% Total mortgage-backed securities 689,772 8,659 5,879 692,552 2.57% Investment securities US Treasury securities 49,672 - 618 49,054 1.73% Obligations of US government-sponsored agencies 3,903 - 19 3,884 1.38% Obligations of Puerto Rico government and public instrumentalities 4,680 - 607 4,073 5.55% Other debt securities 1,840 81 - 1,921 3.00% Total investment securities 60,095 81 1,244 58,932 2.04% Total securities available-for-sale $ 749,867 $ 8,740 $ 7,123 $ 751,484 2.53% Held-to-maturity Mortgage-backed securities FNMA and FHLMC certificates $ 599,884 $ 145 $ 7,266 $ 592,763 2.15% December 31, 2017 Available-for-sale Held-to-maturity Amortized Cost Fair Value Amortized Cost Fair Value (In thousands) Mortgage-backed securities Due from 1 to 5 years FNMA and FHLMC certificates $ 6,405 $ 6,430 $ - $ - Total due from 1 to 5 years 6,405 6,430 - - Due after 5 to 10 years CMOs issued by US government-sponsored agencies $ 72,562 $ 70,705 $ - $ - FNMA and FHLMC certificates 126,096 124,446 - - Total due after 5 to 10 years 198,658 195,151 - - Due after 10 years FNMA and FHLMC certificates $ 250,693 $ 250,839 $ 506,064 $ 497,681 GNMA certificates 166,436 167,338 - - CMOs issued by US government-sponsored agencies 9,464 9,366 - - Total due after 10 years 426,593 427,543 506,064 497,681 Total mortgage-backed securities 631,656 629,124 506,064 497,681 Investment securities Due less than one year US Treasury securities $ 325 $ 324 $ - $ - Obligations of Puerto Rico government and public instrumentalities 2,455 2,093 - - Total due in less than one year 2,780 2,417 - - Due from 1 to 5 years US Treasury securities $ 9,951 $ 9,839 $ - $ - Obligations of US government and sponsored agencies 2,927 2,879 - - Total due from 1 to 5 years 12,878 12,718 - - Due from 5 to 10 years Other debt securities 1,486 1,538 - - Total due after 5 to 10 years 1,486 1,538 - - Total investment securities 17,144 16,673 - - Total $ 648,800 $ 645,797 $ 506,064 $ 497,681 |
Realized Gain Loss On Investments Table Text Block | Year Ended December 31, 2017 Book Value Description Sale Price at Sale Gross Gains Gross Losses (In thousands) Sale of securities available-for-sale Mortgage-backed securities FNMA and FHLMC certificates $ 107,510 $ 102,311 $ 5,199 $ - GNMA certificates 65,284 63,704 1,580 - Investment securities US Treasury securities 84,202 84,085 117 - Total $ 256,996 $ 250,100 $ 6,896 $ - Year Ended December 31, 2016 Book Value Description Sale Price at Sale Gross Gains Gross Losses (In thousands) Sale of securities available-for-sale Mortgage-backed securities FNMA and FHLMC certificates $ 293,505 $ 277,181 $ 16,324 $ - Investment securities Obligations of PR government and public instrumentalities 6,978 11,095 - 4,117 Total mortgage-backed securities $ 300,483 $ 288,276 $ 16,324 $ 4,117 Year Ended December 31, 2015 Book Value Description Sale Price at Sale Gross Gains Gross Losses (In thousands) Sale of securities available-for-sale Mortgage-backed securities FNMA and FHLMC certificates $ 40,307 $ 37,736 $ 2,571 $ - GNMA certificates 63,524 63,523 1 - Total mortgage-backed securities $ 103,831 $ 101,259 $ 2,572 $ - |
Unrealized Gain Loss On Investments Table Text Block | December 31, 2017 12 months or more Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US Government-sponsored agencies $ 72,562 $ 1,857 $ 70,705 FNMA and FHLMC certificates 111,635 2,122 109,513 Obligations of US Government and sponsored agencies 2,927 48 2,879 Obligations of Puerto Rico government and public instrumentalities 2,455 362 2,093 GNMA certificates 20,803 499 20,304 US Treasury Securities 9,952 113 9,839 $ 220,334 $ 5,001 $ 215,333 Securities held to maturity FNMA and FHLMC certificates $ 352,399 $ 7,264 $ 345,135 Less than 12 months Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies $ 9,464 $ 98 $ 9,366 FNMA and FHLMC certificates 125,107 759 124,348 GNMA certificates 14,001 85 13,916 US Treausury Securities 324 - 324 $ 148,896 $ 942 $ 147,954 Securities held-to-maturity FNMA and FHLMC Certificates $ 153,665 $ 1,119 $ 152,546 Total Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies $ 82,026 $ 1,955 $ 80,071 FNMA and FHLMC certificates 236,742 2,881 233,861 Obligations of Puerto Rico government and public instrumentalities 2,455 362 2,093 Obligations of US government and sponsored agencies 2,927 48 2,879 GNMA certificates 34,804 584 34,220 US Treausury Securities 10,276 113 10,163 $ 369,230 $ 5,943 $ 363,287 Securities held-to-maturity FNMA and FHLMC certificates $ 506,064 $ 8,383 $ 497,681 December 31, 2016 12 months or more Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale Obligations of Puerto Rico government and public instrumentalities $ 4,680 $ 607 $ 4,073 CMOs issued by US government-sponsored agencies 33,883 793 33,090 $ 38,563 $ 1,400 $ 37,163 Less than 12 months Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies 67,777 1,430 66,347 FNMA and FHLMC certificates 184,782 3,036 181,746 Obligations of US government and sponsored agencies 3,903 19 3,884 GNMA certificates 29,445 620 28,825 US Treasury Securities 49,172 618 48,554 $ 335,079 $ 5,723 $ 329,356 Securities held to maturity FNMA and FHLMC certificates $ 525,258 $ 7,266 $ 517,992 Total Amortized Unrealized Fair Cost Loss Value (In thousands) Securities available-for-sale CMOs issued by US government-sponsored agencies 101,660 2,223 99,437 FNMA and FHLMC certificates 184,782 3,036 181,746 Obligations of Puerto Rico government and public instrumentalities 4,680 607 4,073 Obligations of US government and sponsored agencies 3,903 19 3,884 GNMA certificates 29,445 620 28,825 US Treasury Securities 49,172 618 48,554 $ 373,642 $ 7,123 $ 366,519 Securities held to maturity FNMA and FHLMC certificates $ 525,258 $ 7,266 $ 517,992 |
Other Than Temporary Impairment Credit Losses Recognized In Earnings | Year Ended December 31, 2017 2016 2015 (In thousands) Balance at beginning of year $ - $ 1,490 $ - Reductions for securities sold during the period (realized) - (1,490) - Additions from credit losses recognized on available-for-sale securities that had no previous impairment lossess - - 1,490 Balance at end of year $ - $ - $ 1,490 |
Pledge Assets (Table)
Pledge Assets (Table) | 12 Months Ended |
Dec. 31, 2017 | |
TransfersAndServicingAbstract | |
ScheduleOfFinancialInstrumentsOwnedAndPledgedAsCollateralTextBlock | December 31, 2017 2016 (In thousands) Pledged investment securities to secure: Securities sold under agreements to repurchase $ 205,484 $ 700,498 Derivatives 1,478 2,397 Bond for the Bank's trust operations 341 348 Puerto Rico public fund deposits 22,948 - Total pledged investment securities 230,251 703,243 Pledged residential mortgage loans to secure: Advances from the Federal Home Loan Bank 971,772 1,028,234 Pledged commercial loans to secure: Advances from the Federal Home Loan Bank 305,346 381,990 Federal Reserve Bank Credit Facility 993 1,303 Puerto Rico public fund deposits 150,036 209,236 456,375 592,529 Total pledged assets $ 1,658,398 $ 2,324,006 Financial assets not pledged: Investment securities $ 921,610 $ 648,125 Residential mortgage loans 325,698 348,030 Commercial loans 1,152,151 1,064,923 Consumer loans 361,497 329,050 Auto loans and leases 949,650 895,097 Total assets not pledged $ 3,710,606 $ 3,285,225 |
Loans Receivable (Tables)
Loans Receivable (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Loans And Leases Receivable Net Reported Amount Covered And Not Covered [Abstract] | |
Schedule Of Accounts Notes Loans And Financing Receivable Text Block | December 31, 2017 2016 (In thousands) Originated and other loans and leases held for investment: Mortgage $ 683,607 $ 721,494 Commercial 1,307,261 1,277,866 Consumer 330,039 290,515 Auto and leasing 883,985 756,395 3,204,892 3,046,270 Allowance for loan and lease losses on originated and other loans and leases (92,718) (59,300) 3,112,174 2,986,970 Deferred loan costs, net 6,695 5,766 Total originated and other loans loans held for investment, net 3,118,869 2,992,736 Acquired loans: Acquired BBVAPR loans: Accounted for under ASC 310-20 (Loans with revolving feature and/or acquired at a premium) Commercial 4,380 5,562 Consumer 28,915 32,862 Auto 21,969 53,026 55,264 91,450 Allowance for loan and lease losses on acquired BBVAPR loans accounted for under ASC 310-20 (3,862) (4,300) 51,402 87,150 Accounted for under ASC 310-30 (Loans acquired with deteriorated credit quality, including those by analogy) Mortgage 532,053 569,253 Commercial 243,092 292,564 Consumer 1,431 4,301 Auto 43,696 85,676 820,272 951,794 Allowance for loan and lease losses on acquired BBVAPR loans accounted for under ASC 310-30 (45,755) (31,056) 774,517 920,738 Total acquired BBVAPR loans, net 825,919 1,007,888 Acquired Eurobank loans: Loans secured by 1-4 family residential properties 69,538 73,018 Commercial 53,793 81,460 Consumer 1,112 1,372 Total acquired Eurobank loans 124,443 155,850 Allowance for loan and lease losses on Eurobank loans (25,174) (21,281) Total acquired Eurobank loans, net 99,269 134,569 Total acquired loans, net 925,188 1,142,457 Total held for investment, net 4,044,057 4,135,193 Mortgage loans held-for-sale 12,272 12,499 Total loans, net $ 4,056,329 $ 4,147,692 |
Past Due Financing Receivables [Table Text Block] | December 31, 2017 Loans 90+ Days Past Due and 30-59 Days 60-89 Days 90+ Days Total Past Still Past Due Past Due Past Due Due Current Total Loans Accruing (In thousands) Mortgage Traditional (by origination year): Up to the year 2002 $ 86 $ 938 $ 3,537 $ 4,561 $ 41,579 $ 46,140 $ 467 Years 2003 and 2004 92 1,077 6,304 7,473 75,758 83,231 - Year 2005 101 383 3,348 3,832 40,669 44,501 68 Year 2006 242 604 5,971 6,817 55,966 62,783 66 Years 2007, 2008 and 2009 358 1,258 8,561 10,177 58,505 68,682 577 Years 2010, 2011, 2012, 2013 233 978 7,393 8,604 116,674 125,278 1,202 Years 2014, 2015, 2016 and 2017 - 75 1,649 1,724 121,194 122,918 - 1,112 5,313 36,763 43,188 510,345 553,533 2,380 Non-traditional - 326 3,543 3,869 14,401 18,270 - Loss mitigation program 7,233 3,331 18,923 29,487 73,793 103,280 4,981 8,345 8,970 59,229 76,544 598,539 675,083 7,361 Home equity secured personal loans - - - - 256 256 - GNMA's buy-back option program - - 8,268 8,268 - 8,268 - 8,345 8,970 67,497 84,812 598,795 683,607 7,361 Commercial Commercial secured by real estate: Corporate - - - - 235,426 235,426 - Institutional - - 118 118 44,648 44,766 - Middle market 765 - 3,527 4,292 225,649 229,941 - Retail 352 936 9,695 10,983 235,084 246,067 - Floor plan - - - - 3,998 3,998 - Real estate - - - - 17,556 17,556 - 1,117 936 13,340 15,393 762,361 777,754 - Other commercial and industrial: Corporate - - - - 170,015 170,015 - Institutional - - - - 125,591 125,591 - Middle market - - 881 881 84,482 85,363 - Retail 455 103 1,616 2,174 111,078 113,252 - Floor plan 9 - 51 60 35,226 35,286 - 464 103 2,548 3,115 526,392 529,507 - 1,581 1,039 15,888 18,508 1,288,753 1,307,261 - December 31, 2017 Loans 90+ Days Past Due and 30-59 Days 60-89 Days 90+ Days Total Past Still Past Due Past Due Past Due Due Current Total Loans Accruing (In thousands) Consumer Credit cards $ 246 $ 130 $ 1,227 $ 1,603 $ 26,827 $ 28,430 $ - Overdrafts 20 6 31 57 157 214 - Personal lines of credit 259 54 87 400 1,820 2,220 - Personal loans 3,778 1,494 223 5,495 278,982 284,477 - Cash collateral personal loans 103 59 312 474 14,224 14,698 - 4,406 1,743 1,880 8,029 322,010 330,039 - Auto and leasing 21,760 10,399 4,232 36,391 847,594 883,985 - Total $ 36,092 $ 22,151 $ 89,497 $ 147,740 $ 3,057,152 $ 3,204,892 $ 7,361 December 31, 2016 Loans 90+ Days Past Due and 30-59 Days 60-89 Days 90+ Days Total Past Still Past Due Past Due Past Due Due Current Total Loans Accruing (In thousands) Mortgage Traditional (by origination year): Up to the year 2002 $ 196 $ 2,176 $ 3,371 $ 5,743 $ 44,542 $ 50,285 $ 158 Years 2003 and 2004 156 3,872 7,272 11,300 79,407 90,707 - Year 2005 - 1,952 4,306 6,258 43,751 50,009 - Year 2006 506 2,905 6,261 9,672 59,628 69,300 - Years 2007, 2008 and 2009 409 1,439 11,732 13,580 63,149 76,729 398 Years 2010, 2011, 2012, 2013 349 1,772 10,417 12,538 127,322 139,860 583 Years 2014, 2015 and 2016 47 123 1,357 1,527 106,672 108,199 - 1,663 14,239 44,716 60,618 524,471 585,089 1,139 Non-traditional - 498 4,730 5,228 17,631 22,859 - Loss mitigation program 8,911 7,205 16,541 32,657 70,871 103,528 1,724 10,574 21,942 65,987 98,503 612,973 711,476 2,863 Home equity secured personal loans - - - - 337 337 - GNMA's buy-back option program - - 9,681 9,681 - 9,681 - 10,574 21,942 75,668 108,184 613,310 721,494 2,863 Commercial Commercial secured by real estate: Corporate - - - - 242,770 242,770 - Institutional - - 254 254 26,546 26,800 - Middle market - 60 3,319 3,379 231,602 234,981 - Retail 154 350 6,594 7,098 242,630 249,728 - Floor plan - - - - 2,989 2,989 - Real estate - - - - 16,395 16,395 - 154 410 10,167 10,731 762,932 773,663 - Other commercial and industrial: Corporate - - - - 136,438 136,438 - Institutional - - - - 180,285 180,285 - Middle market - - - - 81,633 81,633 - Retail 930 100 969 1,999 71,706 73,705 - Floor plan 8 - 61 69 32,073 32,142 - 938 100 1,030 2,068 502,135 504,203 - 1,092 510 11,197 12,799 1,265,067 1,277,866 - December 31, 2016 Loans 90+ Days Past Due and 30-59 Days 60-89 Days 90+ Days Total Past Still Past Due Past Due Past Due Due Current Total Loans Accruing (In thousands) Consumer Credit cards $ 527 $ 283 $ 525 $ 1,335 $ 25,023 $ 26,358 $ - Overdrafts 16 12 5 33 174 207 - Personal lines of credit 41 4 32 77 2,327 2,404 - Personal loans 2,474 1,489 1,081 5,044 241,228 246,272 - Cash collateral personal loans 240 20 4 264 15,010 15,274 - 3,298 1,808 1,647 6,753 283,762 290,515 - Auto and leasing 42,714 19,014 8,173 69,901 686,494 756,395 - Total $ 57,678 $ 43,274 $ 96,685 $ 197,637 $ 2,848,633 $ 3,046,270 $ 2,863 December 31, 2017 Loans 90+ Days Past Due and 30-59 Days 60-89 Days 90+ Days Total Past Still Past Due Past Due Past Due Due Current Total Loans Accruing (In thousands) Commercial Commercial secured by real estate Retail $ - $ - $ 119 $ 119 $ - $ 119 $ - Floor plan - - 928 928 393 1,321 - - - 1,047 1,047 393 1,440 - Other commercial and industrial Retail 36 - 221 257 2,681 2,938 - Floor plan - - 2 2 - 2 - 36 - 223 259 2,681 2,940 - 36 - 1,270 1,306 3,074 4,380 - Consumer Credit cards 208 127 1,310 1,645 24,822 26,467 - Personal loans 139 61 45 245 2,203 2,448 - 347 188 1,355 1,890 27,025 28,915 - Auto 602 248 179 1,029 20,940 21,969 - Total $ 985 $ 436 $ 2,804 $ 4,225 $ 51,039 $ 55,264 $ - December 31, 2016 Loans 90+ Days Past Due and 30-59 Days 60-89 Days 90+ Days Total Past Still Past Due Past Due Past Due Due Current Total Loans Accruing (In thousands) Commercial Commercial secured by real estate Retail $ 33 $ - $ 110 $ 143 $ - $ 143 $ - Floor plan - - 219 219 2,171 2,390 - 33 - 329 362 2,171 2,533 - Other commercial and industrial Retail 97 34 121 252 2,775 3,027 - Floor plan - - 2 2 - 2 - 97 34 123 254 2,775 3,029 - 130 34 452 616 4,946 5,562 - Consumer Credit cards 736 369 708 1,813 28,280 30,093 - Personal loans 48 14 120 182 2,587 2,769 - 784 383 828 1,995 30,867 32,862 - Auto 3,652 1,355 517 5,524 47,502 53,026 - Total $ 4,566 $ 1,772 $ 1,797 $ 8,135 $ 83,315 $ 91,450 $ - |
Carrying Amounts Of Acquired Loans Tabular Disclosure [Table Text Block] | December 31, 2017 2016 (In thousands) Contractual required payments receivable: $ 1,481,616 $ 1,669,602 Less: Non-accretable discount 352,431 363,107 Cash expected to be collected 1,129,185 1,306,495 Less: Accretable yield 308,913 354,701 Carrying amount, gross 820,272 951,794 Less: allowance for loan and lease losses 45,755 31,056 Carrying amount, net $ 774,517 $ 920,738 |
Accretable Yield for Acquired Loans [Table Text Block] | Year Ended December 31, 2017 Mortgage Commercial Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of year $ 292,115 $ 50,366 $ 8,538 $ 3,682 $ 354,701 Accretion (30,205) (20,572) (6,339) (1,841) (58,957) Change in expected cash flows 2 22,250 170 143 22,565 Transfer (to) from non-accretable discount (3,414) (5,280) 397 (1,099) (9,396) Balance at end of year $ 258,498 $ 46,764 $ 2,766 $ 885 $ 308,913 Non-Accretable Discount Activity: Balance at beginning of year $ 305,615 $ 16,965 $ 22,407 $ 18,120 $ 363,107 Change in actual and expected losses (9,528) (11,649) 1,040 65 (20,072) Transfer from (to) accretable yield 3,414 5,280 (397) 1,099 9,396 Balance at end of year $ 299,501 $ 10,596 $ 23,050 $ 19,284 $ 352,431 Year Ended December 31, 2016 Mortgage Commercial Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of year $ 268,794 $ 65,026 $ 21,578 $ 6,290 $ 361,688 Accretion (32,834) (26,254) (13,567) (2,982) (75,637) Change in actual and expected losses (1) 14,259 1,251 (242) 15,267 Transfer from (to) non-accretable discount 56,156 (2,665) (724) 616 53,383 Balance at end of year $ 292,115 $ 50,366 $ 8,538 $ 3,682 $ 354,701 Non-Accretable Discount Activity: Balance at beginning of year $ 374,772 $ 18,545 $ 22,039 $ 18,834 $ 434,190 Change in actual and expected losses (13,001) (4,245) (356) (98) (17,700) Transfer (to) from accretable yield (56,156) 2,665 724 (616) (53,383) Balance at end of year $ 305,615 $ 16,965 $ 22,407 $ 18,120 $ 363,107 Year Ended December 31, 2015 Mortgage Commercial Auto Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of year $ 298,364 $ 87,025 $ 53,998 $ 6,559 $ 445,946 Accretion (34,842) (49,429) (23,463) (4,379) (112,113) Change in actual and expected losses - 8,532 - (1) 8,531 Transfer (to) from non-accretable discount 5,272 18,898 (8,957) 4,111 19,324 Balance at end of year $ 268,794 $ 65,026 $ 21,578 $ 6,290 $ 361,688 Non-Accretable Discount Activity: Balance at beginning of year $ 389,839 $ 26,555 $ 16,215 $ 24,018 $ 456,627 Change in actual and expected losses (9,795) 10,888 (3,133) (1,073) (3,113) Transfer from (to) accretable yield (5,272) (18,898) 8,957 (4,111) (19,324) Balance at end of year $ 374,772 $ 18,545 $ 22,039 $ 18,834 $ 434,190 |
Eurobank loans carrying amount [Table Text Block] | December 31 2017 2016 (In thousands) Contractual required payments receivable: $ 179,960 $ 232,698 Less: Non-accretable discount 5,845 12,340 Cash expected to be collected 174,115 220,358 Less: Accretable yield 49,672 64,508 Carrying amount, gross 124,443 155,850 Less: Allowance for loan and lease losses 25,174 21,281 Carrying amount, net $ 99,269 $ 134,569 |
Accretable Yield for Acquired Eurobank Loans [Table Text Block] | Year Ended December 31, 2017 Loans Secured by 1-4 Family Residential Properties Commercial Construction & Development Secured by 1-4 Family Residential Properties Leasing Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of year $ 45,839 $ 16,475 $ 2,194 $ - $ - $ 64,508 Accretion (7,180) (12,985) (82) (30) (283) (20,560) Change in expected cash flows 121 1,881 121 (217) 759 2,665 Transfer from (to) non-accretable discount 2,694 1,380 (786) 247 (476) 3,059 Balance at end of year $ 41,474 $ 6,751 $ 1,447 $ - $ - $ 49,672 Non-Accretable Discount Activity: Balance at beginning of year $ 8,441 $ 3,880 $ 11 $ - $ 8 $ 12,340 Change in actual and expected losses (1,171) (2,224) (39) 247 (249) (3,436) Transfer from (to) accretable yield (2,694) (1,380) 786 (247) 476 (3,059) Balance at end of year $ 4,576 $ 276 $ 758 $ - $ 235 $ 5,845 Year Ended December 31, 2016 Loans Secured by 1-4 Family Residential Properties Commercial Construction & Development Secured by 1-4 Family Residential Properties Leasing Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of year $ 51,954 $ 26,970 $ 2,255 - $ 3,212 $ 84,391 Accretion (8,942) (19,593) (90) (60) (1,813) (30,498) Change in actual and expected losses 2,134 13,722 1 (15) (1,386) 14,456 Transfer from (to) non-accretable discount 693 (4,624) 28 75 (13) (3,841) Balance at end of year $ 45,839 $ 16,475 $ 2,194 $ - $ - $ 64,508 Non-Accretable Discount Activity: Balance at beginning of year $ 12,869 $ - $ - $ - $ 8,287 $ 21,156 Change in actual and expected losses (3,735) (744) 39 75 (8,292) (12,657) Transfer (to) from accretable yield (693) 4,624 (28) (75) 13 3,841 Balance at end of year $ 8,441 $ 3,880 $ 11 $ - $ 8 $ 12,340 Year Ended December 31, 2015 Loans Secured by 1-4 Family Residential Properties Commercial Construction & Development Secured by 1-4 Family Residential Properties Leasing Consumer Total (In thousands) Accretable Yield Activity: Balance at beginning of year $ 47,636 $ 37,920 $ 20,753 $ 2,479 $ 1,071 $ 109,859 Accretion (13,685) (32,124) (2,513) (3,458) (631) (52,411) Change in expected cash flows 4,631 44,660 (15,048) (51) 305 34,497 Transfer from (to) non-accretable discount 13,372 (23,486) (937) 1,030 2,467 (7,554) Balance at end of year $ 51,954 $ 26,970 $ 2,255 $ - $ 3,212 $ 84,391 Non-Accretable Discount Activity: Balance at beginning of year $ 27,348 $ 24,464 $ - $ - $ 10,598 $ 62,410 Change in actual and expected cash flows (1,107) (47,950) (937) 1,030 156 (48,808) Transfer (to) from accretable yield (13,372) 23,486 937 (1,030) (2,467) 7,554 Balance at end of year $ 12,869 $ - $ - $ - $ 8,287 $ 21,156 |
Financing Receivable Recorded Investment Nonaccrual Status By Class Of Loans [Table Text Block] | December 31, 2017 2016 (In thousands) Originated and other loans and leases held for investment Mortgage Traditional (by origination year): Up to the year 2002 $ 3,070 $ 3,336 Years 2003 and 2004 6,380 7,668 Year 2005 3,280 4,487 Year 2006 5,905 6,746 Years 2007, 2008 and 2009 7,984 11,526 Years 2010, 2011, 2012, 2013 6,259 10,089 Years 2014, 2015, 2016 and 2017 1,649 1,404 34,527 45,256 Non-traditional 3,543 4,730 Loss mitigation program 16,783 20,744 54,853 70,730 Commercial Commercial secured by real estate Institutional 118 - Middle market 11,394 4,682 Retail 14,438 11,561 25,950 16,243 Other commercial and industrial Middle market 6,323 1,278 Retail 2,929 1,950 Floor plan 51 61 9,303 3,289 35,253 19,532 Consumer Credit cards 1,227 525 Overdrafts 31 - Personal lines of credit 102 32 Personal loans 900 1,420 Cash collateral personal loans 312 4 2,572 1,981 Auto and leasing 4,232 9,052 Total non-accrual originated loans $ 96,910 $ 101,295 December 31, 2017 2016 (In thousands) Acquired BBVAPR loans accounted for under ASC 310-20 Commercial Commercial secured by real estate Retail $ 119 $ 143 Floor plan 928 1,149 1,047 1,292 Other commercial and industrial Retail 221 121 Floor plan 2 2 223 123 1,270 1,415 Consumer Credit cards 1,310 708 Personal loans 45 120 1,355 828 Auto 179 552 Total non-accrual acquired BBVAPR loans accounted for under ASC 310-20 2,804 2,795 Total non-accrual loans $ 99,714 $ 104,090 |
Impaired Financing Receivables [Table Text Block] | December 31, 2017 Unpaid Recorded Related Principal Investment Allowance Coverage (In thousands) Impaired loans with specific allowance: Commercial $ 57,922 $ 52,585 $ 10,573 20% Residential impaired and troubled-debt restructuring 94,971 85,403 9,121 11% Impaired loans with no specific allowance: Commercial 22,022 18,953 N/A 0% Total investment in impaired loans $ 174,915 $ 156,941 $ 19,694 13% December 31, 2016 Unpaid Recorded Related Principal Investment Allowance Coverage (In thousands) Impaired loans with specific allowance: Commercial $ 13,183 $ 11,698 $ 1,626 14% Residential impaired and troubled-debt restructuring 100,101 91,650 7,761 8% Impaired loans with no specific allowance Commercial 49,038 41,441 N/A 0% Total investment in impaired loans $ 162,322 $ 144,789 $ 9,387 6% December 31, 2017 Unpaid Recorded Related Principal Investment Allowance Coverage (In thousands) Impaired loans with specific allowance Commercial $ 926 $ 747 $ 20 3% Impaired loans with no specific allowance Commercial $ - $ - N/A 0% Total investment in impaired loans $ 926 $ 747 $ 20 3% December 31, 2016 Unpaid Recorded Specific Principal Investment Allowance Coverage (In thousands) Impaired loans with specific allowance Commercial $ 944 $ 929 $ 141 15% Impaired loans with no specific allowance Commercial $ 240 $ 221 N/A 0% Total investment in impaired loans $ 1,184 $ 1,150 $ 141 12% December 31, 2017 Coverage Unpaid Recorded to Recorded Principal Investment Allowance Investment (In thousands) Impaired loan pools with specific allowance: Mortgage $ 547,064 $ 532,052 $ 14,085 3% Commercial 250,451 241,124 23,691 10% Consumer 2,468 1,431 18 1% Auto 43,440 43,696 7,961 18% Total investment in impaired loan pools $ 843,423 $ 818,303 $ 45,755 6% December 31 , 2016 Coverage Unpaid Recorded to Recorded Principal Investment Allowance Investment (In thousands) Impaired loan pools with specific allowance: Mortgage $ 595,757 $ 569,250 $ 2,682 0% Commercial 199,092 195,528 23,452 12% Auto 92,797 85,676 4,922 6% Total investment in impaired loan pools $ 887,646 $ 850,454 $ 31,056 4% December 31, 2017 Coverage Unpaid Recorded to Recorded Principal Investment Allowance Investment (In thousands) Impaired loan pools with specific allowance: Loans secured by 1-4 family residential properties $ 81,132 $ 69,538 $ 15,187 22% Commercial 58,099 53,793 9,982 19% Consumer 15 4 5 125% Total investment in impaired loan pools $ 139,246 $ 123,335 $ 25,174 20% December 31, 2016 Coverage Unpaid Recorded Specific to Recorded Principal Investment Allowance Investment (In thousands) Impaired loan pools with specific allowance Loans secured by 1-4 family residential properties $ 88,017 $ 73,018 $ 11,947 16% Commercial 81,992 72,140 9,328 13% Consumer 29 1,372 6 0% Total investment in impaired loan pools $ 170,038 $ 146,530 $ 21,281 15% |
Impaired Financing Receivables Loans, excluding ASC 310-30 [Table Text Block] | Year Ended December 31, 2017 2016 2015 Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment (In thousands) Originated and other loans held for investment: Impaired loans with specific allowance Commercial $ 1,538 $ 25,797 $ 452 $ 118,980 $ 280 $ 175,115 Residential troubled-debt restructuring 3,301 87,414 3,190 91,139 3,219 90,736 Impaired loans with no specific allowance Commercial 875 36,666 1,941 40,443 1,350 64,356 Total interest income from impaired loans $ 5,714 $ 149,877 $ 5,583 $ 250,562 $ 4,849 $ 330,207 Acquired loans accounted for under ASC 310-20: Impaired loans with specific allowance Commercial $ - $ 794 $ - $ 319 $ - $ - Impaired loans with no specific allowance Commercial - - - 608 - - Total interest income from impaired loans $ 5,714 $ 150,671 $ 5,583 $ 251,489 $ 4,849 $ 330,207 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Year Ended December 31, 2017 Number of contracts Pre-Modification Outstanding Recorded Investment Pre-Modification Weighted Average Rate Pre-Modification Weighted Average Term (in Months) Post-Modification Outstanding Recorded Investment Post-Modification Weighted Average Rate Post-Modification Weighted Average Term (in Months) (Dollars in thousands) Mortgage 85 $ 10,441 6.23% 390 $ 10,343 4.40% 384 Commercial 24 13,828 6.05% 57 13,829 5.73% 62 Consumer 107 1,391 11.68% 62 1,430 10.85% 69 Auto 9 134 7.24% 66 135 11.75% 37 Year Ended December 31, 2016 Number of contracts Pre-Modification Outstanding Recorded Investment Pre-Modification Weighted Average Rate Pre-Modification Weighted Average Term (in Months) Post-Modification Outstanding Recorded Investment Post-Modification Weighted Average Rate Post-Modification Weighted Average Term (in Months) (Dollars in thousands) Mortgage 90 $ 11,684 6.05% 351 $ 11,625 4.77% 439 Commercial 20 9,833 5.73% 64 10,151 5.93% 116 Consumer 75 817 13.60% 73 902 11.23% 66 Year Ended December 31, 2015 Number of contracts Pre-Modification Outstanding Recorded Investment Pre-Modification Weighted Average Rate Pre-Modification Weighted Average Term (in Months) Post-Modification Outstanding Recorded Investment Post-Modification Weighted Average Rate Post-Modification Weighted Average Term (in Months) (Dollars in thousands) Mortgage 160 $ 21,053 5.42% 356 $ 21,182 4.35% 272 Commercial 9 5,664 6.79% 66 13,174 4.57% 56 Consumer 64 611 13.85% 71 898 13.43% 60 Auto 5 130 10.51% 65 131 10.87% 61 Year Ended December 31, 2017 2016 2015 Number of Contracts Recorded Investment Number of Contracts Recorded Investment Number of Contracts Recorded Investment (Dollars in thousands) Mortgage 34 $ 3,129 19 $ 2,241 65 $ 7,387 Commercial 5 $ 452 2 $ 157 - $ - Consumer 20 $ 249 11 $ 126 8 $ 177 Auto - $ - - $ - 1 $ 64 |
Financing Receivable Credit Quality Indicators [Table Text Block] | December 31, 2017 Risk Ratings Balance Special Outstanding Pass Mention Substandard Doubtful Loss (In thousands) Commercial - originated and other loans held for investment Commercial secured by real estate: Corporate $ 235,426 $ 200,395 $ 33,094 $ 1,937 $ - $ - Institutional 44,766 33,856 - 10,910 - - Middle market 229,941 196,058 4,749 29,134 - - Retail 246,067 215,121 8,058 22,888 - - Floor plan 3,998 2,678 1,320 - - - Real estate 17,556 17,556 - - - - 777,754 665,664 47,221 64,869 - - Other commercial and industrial: Corporate 170,015 157,683 12,332 - - - Institutional 125,591 125,591 - - - - Middle market 85,363 71,222 6,386 7,755 - - Retail 113,252 109,477 562 3,213 - - Floor plan 35,286 32,165 3,070 51 - - 529,507 496,138 22,350 11,019 - - Total 1,307,261 1,161,802 69,571 75,888 - - Commercial - acquired loans (under ASC 310-20) Commercial secured by real estate: Retail 119 - - 119 - - Floor plan 1,321 393 - 928 - - 1,440 393 - 1,047 - - Other commercial and industrial: Retail 2,938 2,933 - 5 - - Floor plan 2 - - 2 - - 2,940 2,933 - 7 - - Total 4,380 3,326 - 1,054 - - December 31, 2017 Risk Ratings Balance Special Outstanding Pass Mention Substandard Doubtful Loss (In thousands) Retail - originated and other loans held for investment Mortgage: Traditional 553,533 516,770 - 36,763 - - Non-traditional 18,270 14,727 - 3,543 - - Loss mitigation program 103,280 84,357 - 18,923 - - Home equity secured personal loans 256 256 - - - - GNMA's buy-back option program 8,268 - - 8,268 - - 683,607 616,110 - 67,497 - - Consumer: Credit cards 28,430 27,203 - 1,227 - - Overdrafts 214 158 - 56 - - Unsecured personal lines of credit 2,220 2,133 - 87 - - Unsecured personal loans 284,477 284,255 - 222 - - Cash collateral personal loans 14,698 14,386 - 312 - - 330,039 328,135 - 1,904 - - Auto and Leasing 883,985 879,753 - 4,232 - - Total 1,897,631 1,823,998 - 73,633 - - Retail - acquired loans (accounted for under ASC 310-20) Consumer: Credit cards 26,467 25,156 - 1,311 - - Personal loans 2,448 2,402 - 46 - - 28,915 27,558 - 1,357 - - Auto 21,969 21,790 - 179 - - 50,884 49,348 - 1,536 - - $ 3,260,156 $ 3,038,474 $ 69,571 $ 152,111 $ - $ - December 31, 2016 Risk Ratings Balance Special Outstanding Pass Mention Substandard Doubtful Loss (In thousands) Commercial - originated and other loans held for investment Commercial secured by real estate: Corporate $ 242,770 $ 226,768 $ 16,002 $ - $ - $ - Institutional 26,800 16,067 9,090 1,643 - - Middle market 234,981 194,913 11,689 28,379 - - Retail 249,728 222,205 8,559 18,964 - - Floor plan 2,989 2,989 - - - - Real estate 16,395 16,395 - - - - 773,663 679,337 45,340 48,986 - - Other commercial and industrial: Corporate 136,438 136,438 - - - - Institutional 180,285 180,185 100 - - - Middle market 81,633 63,556 16,150 1,927 - - Retail 73,705 68,743 731 4,231 - - Floor plan 32,142 29,267 2,814 61 - - 504,203 478,189 19,795 6,219 - - Total 1,277,866 1,157,526 65,135 55,205 - - Commercial - acquired loans (under ASC 310-20) Commercial secured by real estate: Retail 143 - - 143 - - Floor plan 2,390 905 337 1,148 - - 2,533 905 337 1,291 - - Other commercial and industrial: Retail 3,027 3,014 - 13 - - Floor plan 2 - - 2 - - 3,029 3,014 - 15 - - Total 5,562 3,919 337 1,306 - - December 31, 2016 Risk Ratings Balance Special Outstanding Pass Mention Substandard Doubtful Loss (In thousands) Retail - originated and other loans held for investment Mortgage: Traditional 585,089 540,373 - 44,716 - - Non-traditional 22,859 18,129 - 4,730 - - Loss mitigation program 103,528 86,987 - 16,541 - - Home equity secured personal loans 337 337 - - - - GNMA's buy-back option program 9,681 - - 9,681 - - 721,494 645,826 - 75,668 - - Consumer: Credit cards 26,358 25,833 - 525 - - Overdrafts 207 174 - 33 - - Unsecured personal lines of credit 2,404 2,372 - 32 - - Unsecured personal loans 246,272 245,190 - 1,082 - - Cash collateral personal loans 15,274 15,270 - 4 - - 290,515 288,839 - 1,676 - - Auto and Leasing 756,395 748,221 - 8,174 - - Total 1,768,404 1,682,886 - 85,518 - - Retail - acquired loans (under ASC 310-20) Consumer: Credit cards 30,093 29,386 - 707 - - Personal loans 2,769 2,649 - 120 - - 32,862 32,035 - 827 - - Auto 53,026 52,510 - 516 - - Total 85,888 84,545 - 1,343 - - $ 3,137,720 $ 2,928,876 $ 65,472 $ 143,372 $ - $ - |
Allowance for Loan and Lease 41
Allowance for Loan and Lease Losses (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Allowance for loan and lease losses [Abstract] | |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | December 31, 2017 2016 (In thousands) Allowance for loans and lease losses: Originated and other loans and leases held for investment: Mortgage $ 20,439 $ 17,344 Commercial 30,258 8,995 Consumer 16,454 13,067 Auto and leasing 25,567 19,463 Unallocated - 431 Total allowance for originated and other loans and lease losses 92,718 59,300 Acquired BBVAPR loans: Accounted for under ASC 310-20 (Loans with revolving feature and/or acquired at a premium) Commercial 42 169 Consumer 3,225 3,028 Auto 595 1,103 3,862 4,300 Accounted for under ASC 310-30 (Loans acquired with deteriorated credit quality, including those by analogy) Mortgage 14,085 2,682 Commercial 23,691 23,452 Consumer 18 - Auto 7,961 4,922 45,755 31,056 Total allowance for acquired BBVAPR loans and lease losses 49,617 35,356 Acquired Eurobank loans: Loans secured by 1-4 family residential properties 15,187 11,947 Commercial 9,982 9,328 Consumer 5 6 Total allowance for acquired Eurobank loan and lease losses 25,174 21,281 Total allowance for loan and lease losses $ 167,509 $ 115,937 Year Ended December 31, 2017 Mortgage Commercial Consumer Auto and Leasing Unallocated Total (In thousands) Allowance for loan and lease losses for originated and other loans: Balance at beginning of year $ 17,344 $ 8,995 $ 13,067 $ 19,463 $ 431 $ 59,300 Charge-offs (6,623) (7,684) (13,641) (33,908) - (61,856) Recoveries 585 1,281 1,209 12,314 - 15,389 Provision (recapture) for loan and lease losses 9,133 27,666 15,819 27,698 (431) 79,885 Balance at end of year $ 20,439 $ 30,258 $ 16,454 $ 25,567 $ - $ 92,718 Year Ended December 31, 2016 Mortgage Commercial Consumer Auto and Leasing Unallocated Total (In thousands) Allowance for loan and lease losses for originated and other loans: Balance at beginning of year $ 18,352 $ 64,791 $ 11,197 $ 18,261 $ 25 $ 112,626 Charge-offs (6,767) (62,445) (11,554) (31,731) - (112,497) Recoveries 330 460 452 12,871 - 14,113 Provision (recapture) for loan and lease losses 5,429 6,189 12,972 20,062 406 45,058 Balance at end of year $ 17,344 $ 8,995 $ 13,067 $ 19,463 $ 431 $ 59,300 Year Ended December 31, 2015 Mortgage Commercial Consumer Auto and Leasing Unallocated Total (In thousands) Allowance for loan and lease losses for originated and other loans: Balance at beginning of year $ 19,679 $ 8,432 $ 9,072 $ 14,255 $ 1 $ 51,439 Charge-offs (5,397) (5,546) (8,683) (33,375) - (53,001) Recoveries 391 432 871 13,158 - 14,852 Provision (recapture) for loan and lease losses 3,679 61,473 9,937 24,223 24 99,336 Balance at end of year $ 18,352 $ 64,791 $ 11,197 $ 18,261 $ 25 $ 112,626 December 31, 2017 Mortgage Commercial Consumer Auto and Leasing Unallocated Total (In thousands) Allowance for loan and lease losses on originated and other loans: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 9,121 $ 10,573 $ - $ - $ - $ 19,694 Collectively evaluated for impairment 11,318 19,685 16,454 25,567 - 73,024 Total ending allowance balance $ 20,439 $ 30,258 $ 16,454 $ 25,567 $ - $ 92,718 Loans: Individually evaluated for impairment $ 85,403 $ 71,538 $ - $ - $ - $ 156,941 Collectively evaluated for impairment 598,204 1,235,723 330,039 883,985 - 3,047,951 Total ending loan balance $ 683,607 $ 1,307,261 $ 330,039 $ 883,985 $ - $ 3,204,892 December 31, 2016 Mortgage Commercial Consumer Auto and Leasing Unallocated Total (In thousands) Allowance for loan and lease losses on originated and other loans: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 7,761 $ 1,626 $ - $ - $ - $ 9,387 Collectively evaluated for impairment 9,583 7,369 13,067 19,463 431 49,913 Total ending allowance balance $ 17,344 $ 8,995 $ 13,067 $ 19,463 $ 431 $ 59,300 Loans: Individually evaluated for impairment $ 91,650 $ 53,139 $ - $ - $ - $ 144,789 Collectively evaluated for impairment 629,844 1,224,727 290,515 756,395 - 2,901,481 Total ending loan balance $ 721,494 $ 1,277,866 $ 290,515 $ 756,395 $ - $ 3,046,270 Year Ended December 31, 2017 Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Balance at beginning of year $ 169 $ 3,028 $ 1,103 $ 4,300 Charge-offs (132) (3,048) (976) (4,156) Recoveries 5 446 1,420 1,871 Provision (recapture) for acquired BBVAPR loan and lease losses accounted for under ASC 310-20 - 2,799 (952) 1,847 Balance at end of year $ 42 $ 3,225 $ 595 $ 3,862 Year Ended December 31, 2016 Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Balance at beginning of year $ 26 $ 3,429 $ 2,087 $ 5,542 Charge-offs (42) (3,619) (2,155) (5,816) Recoveries 73 301 1,945 2,319 Provision (recapture) for acquired BBVAPR loan and lease losses accounted for under ASC 310-20 112 2,917 (774) 2,255 Balance at end of year $ 169 $ 3,028 $ 1,103 $ 4,300 Year Ended December 31, 2015 Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Balance at beginning of year $ 65 $ 1,211 $ 3,321 $ 4,597 Charge-offs (42) (4,755) (4,548) (9,345) Recoveries 31 680 2,110 2,821 Provision (recapture) for acquired loan and lease losses accounted for under ASC 310-20 (28) 6,293 1,204 7,469 Balance at end of year $ 26 $ 3,429 $ 2,087 $ 5,542 December 31, 2017 Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 20 $ - $ - $ 20 Collectively evaluated for impairment 22 3,225 595 3,842 Total ending allowance balance $ 42 $ 3,225 $ 595 $ 3,862 Loans: Individually evaluated for impairment $ 747 $ - $ - $ 747 Collectively evaluated for impairment 3,633 28,915 21,969 54,517 Total ending loan balance $ 4,380 $ 28,915 $ 21,969 $ 55,264 December 31, 2016 Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-20: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 141 $ - $ - $ 141 Collectively evaluated for impairment 28 3,028 1,103 4,159 Total ending allowance balance $ 169 $ 3,028 $ 1,103 $ 4,300 Loans: Individually evaluated for impairment $ 1,150 $ - $ - $ 1,150 Collectively evaluated for impairment 4,412 32,862 53,026 90,300 Total ending loan balance $ 5,562 $ 32,862 $ 53,026 $ 91,450 Year Ended December 31, 2017 Mortgage Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-30: Balance at beginning of year $ 2,682 $ 23,452 $ - $ 4,922 $ 31,056 Provision for BBVAPR loans and lease losses accounted for under ASC 310-30 11,497 9,758 18 3,408 24,681 Allowance de-recognition (94) (9,519) - (369) (9,982) Balance at end of year $ 14,085 $ 23,691 $ 18 $ 7,961 $ 45,755 Year Ended December 31, 2016 Mortgage Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-30: Balance at beginning of year $ 1,762 $ 21,161 $ - $ 2,862 $ 25,785 Provision (recapture) for BBVAPR loans and lease losses accounted for under ASC 310-30 1,105 11,710 - 2,693 15,508 Loan pools fully charged-off (14) (66) - (202) (282) Allowance de-recognition (171) (9,353) - (431) (9,955) Balance at end of year $ 2,682 $ 23,452 $ - $ 4,922 $ 31,056 Year Ended December 31, 2015 Mortgage Commercial Consumer Auto Total (In thousands) Allowance for loan and lease losses for acquired BBVAPR loans accounted for under ASC 310-30: Balance at beginning of year $ 5 13,476 - - 13,481 Provision for BBVAPR loans and lease losses accounted for under ASC 310-30 1,757 12,037 - 2,862 16,656 Loan pools fully charged-off - (4,352) - - (4,352) Balance at end of year $ 1,762 $ 21,161 $ - $ 2,862 $ 25,785 Year Ended December 31, 2017 Loans Secured by 1-4 Family Residential Properties Commercial Consumer Total (In thousands) Allowance for loan and lease losses for acquired Eurobank loans: Balance at beginning of period $ 11,947 $ 9,328 $ 6 $ 21,281 Provision for covered loan and lease losses, net 5,045 1,680 - 6,725 Allowance de-recognition (1,805) (1,026) (1) (2,832) Balance at end of period $ 15,187 $ 9,982 $ 5 $ 25,174 Year Ended December 31, 2016 Loans Secured by 1-4 Family Residential Properties Commercial Consumer Total (In thousands) Allowance for loan and lease losses for acquired Eurobank loans: Balance at beginning of period $ 22,570 $ 67,365 $ 243 $ 90,178 Provision for covered loan and lease losses, net 1,080 1,183 (8) 2,255 Loan pools fully charged-off - (134) - (134) Allowance de-recognition (15,094) (59,086) (229) (74,409) FDIC shared-loss portion of provision for covered loan and lease losses, net 3,391 - - 3,391 Balance at end of period $ 11,947 $ 9,328 $ 6 $ 21,281 Year Ended December 31, 2015 Loans Secured by 1-4 Family Residential Properties Commercial Consumer Total (In thousands) Allowance for loan and lease losses for acquired Eurobank loans: Balance at beginning of period $ 5,469 $ 58,511 $ 265 $ 64,245 Provision for covered loan and lease losses, net 17,718 $ 20,043 279 38,040 Loan pools fully charged-off (722) (13,587) (301) (14,610) FDIC shared-loss portion of provision for covered loan and lease losses, net 105 2,398 - 2,503 Balance at end of period $ 22,570 $ 67,365 $ 243 $ 90,178 |
FDIC Indemnification and True-u
FDIC Indemnification and True-up Payment Obligation (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Banking and Thrift [Abstract] | |
FDIC Indemnification Asset and True-Up Payment Obligation Roll Forward | The following table presents the activity in the FDIC indemnification asset and tru e-up payment obligation for the years ended December 31 , 2017 , 2016 and 2015 : Year Ended December 31, 2017 2016 2015 (In thousands) FDIC indemnification asset: Balance at beginning of year $ 14,411 $ 22,599 $ 97,378 Shared-loss agreements reimbursements from the FDIC - (1,573) (55,723) Increase in expected credit losses to be covered under shared-loss agreements, net - 3,391 2,503 FDIC indemnification asset benefit (expense) 1,403 (8,040) (36,398) Final settlement with the FDIC on commercial loans - - (1,589) Net expenses incurred under shared-loss agreements - (1,966) 16,428 Shared-loss termination settlement (15,814) - - Balance at end of year $ - $ 14,411 $ 22,599 True-up payment obligation: Balance at beginning of year $ 26,786 $ 24,658 $ 21,981 Change in true-up payment obligation - 2,128 2,677 Shared-loss termination settlement (26,786) - - Balance at end of year $ - $ 26,786 $ 24,658 |
Schedule Of Business Acquisitions By Acquisition Contingent Consideration Text Block | December 31, 2017 2016 (In thousands) Carrying amount (fair value) $ - $ 26,786 Undiscounted amount $ - $ 33,635 |
FDIC Indemnification Asset Expense [Table Text block] | Year Ended December 31, 2017 2016 2015 (In thousands) FDIC indemnification asset expense (benefit) $ (1,403) $ 8,040 $ 36,398 Change in true-up payment obligation - 2,128 2,677 Reimbursement to FDIC for recoveries - 3,413 2,144 Final settlement with the FDIC on commercial loans - - 1,589 Total FDIC shared-loss expense (benefit), net $ (1,403) $ 13,581 $ 42,808 |
Foreclosed Real Estate (Tables)
Foreclosed Real Estate (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Other Real Estate [Abstract] | |
Foreclosed Real Estate Roll Forward [Table Text Block] | Year Ended December 31, 2017 Originated and other loans and leases held for investment Acquired BBVAPR loans Acquired Eurobank loans Total (In thousands) Balance at beginning of year $ 12,390 $ 21,379 $ 13,751 $ 47,520 Decline in value (1,913) (2,850) (1,797) (6,560) Additions 10,565 9,416 3,120 23,101 Sales (6,615) (9,453) (3,530) (19,598) Other adjustments (144) (145) - (289) Balance at end of year $ 14,283 $ 18,347 $ 11,544 $ 44,174 Year Ended December 31, 2016 Originated and other loans and leases held for investment Acquired BBVAPR loans Acquired Eurobank loans Total (In thousands) Balance at beginning of year $ 10,324 $ 26,757 $ 21,095 $ 58,176 Decline in value (1,966) (6,124) (4,913) (13,003) Additions 10,170 7,872 3,591 21,633 Sales (6,138) (7,126) (6,022) (19,286) Balance at end of year $ 12,390 $ 21,379 $ 13,751 $ 47,520 Year Ended December 31, 2015 Originated and other loans and leases held for investment Acquired BBVAPR loans Acquired Eurobank loans Total (In thousands) Balance at beginning of year $ 12,343 $ 35,804 $ 47,603 $ 95,750 Decline in value (2,831) (7,668) (13,791) (24,290) Additions 9,817 8,213 18,535 36,565 Sales (5,933) (9,338) (31,075) (46,346) Other adjustments (3,072) (254) (177) (3,503) Balance at end of year $ 10,324 $ 26,757 $ 21,095 $ 58,176 |
Premises and Equipment (Tables)
Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Property Plant And Equipment Abstract | |
Property Plant And Equipment Text Block | Useful Life December 31, (Years) 2017 2016 (In thousands) Land — $ 5,638 $ 5,638 Buildings and improvements 40 64,277 64,048 Leasehold improvements 5 — 10 20,647 20,414 Furniture and fixtures 3 — 7 16,242 14,479 Information technology and other 3 — 7 28,783 26,003 135,587 130,582 Less: accumulated depreciation and amortization (67,727) (60,175) $ 67,860 $ 70,407 |
Servicing Assets (Tables)
Servicing Assets (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
TransfersAndServicingOfFinancialAssetsAbstract | |
ScheduleOfServicingAssetsAtFairValueTextBlock | The following table presents the changes in servicing rights measured using the fair value method for years ended December 31, 201 7, 2016 and 201 5 : Year Ended December 31, 2017 2016 2015 (In thousands) Fair value at beginning of year $ 9,858 $ 7,455 $ 13,992 Sale of mortgage servicing rights - - (5,927) Servicing from mortgage securitizations or asset transfers 1,658 2,616 2,620 Changes due to payments on loans (590) (489) (1,017) Changes in fair value related to price of MSR's held for sale - - (2,939) Changes in fair value due to changes in valuation model inputs or assumptions (1,105) 276 726 Fair value at end of year $ 9,821 $ 9,858 $ 7,455 |
ScheduleOfAssumptionsForFairValueOnSecuritizationDateOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrServicingLiabilitiesTextBlock | The following table presents key economic assumption ranges used in measuring the mortgage- related servicing asset fair value for the years ended 2017, 2016 and 2015 : Year Ended December 31, 2017 2016 2015 Constant prepayment rate 3.94% - 8.49% 4.24% - 9.14% 5.23% - 15.24% Discount rate 10.00% - 12.00% 10.00% - 12.00% 10.00% - 12.00% |
ScheduleOfSensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrServicingLiabilitiesTextBlock | The sensitivity of the current fair value of servicing assets to immediate 10 percent and 20 percent adverse changes in the above key assumptions were as follow s : December 31, 2017 (In thousands) Mortgage-related servicing asset Carrying value of mortgage servicing asset $ 9,821 Constant prepayment rate Decrease in fair value due to 10% adverse change $ (196) Decrease in fair value due to 20% adverse change $ (384) Discount rate Decrease in fair value due to 10% adverse change $ (436) Decrease in fair value due to 20% adverse change $ (838) |
Derivative Activities (Tables)
Derivative Activities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Derivative Instrument Detail [Abstract] | |
Schedule Of Derivative Instruments Text Block | The following table presents Oriental ’s derivative assets and liabilities at December 31 , 2017 and 2016 : December 31, 2017 2016 (In thousands) Derivative assets: Interest rate swaps not designated as hedges $ 618 $ 1,187 Interest rate caps 153 143 $ 771 $ 1,330 Derivative liabilities: Interest rate swaps designated as cash flow hedges 510 1,004 Interest rate swaps not designated as hedges 618 1,187 Interest rate caps 153 139 Other - 107 $ 1,281 $ 2,437 The following table shows a summary of these swaps and their terms at December 31 , 2017 : Notional Fixed Variable Trade Settlement Maturity Type Amount Rate Rate Index Date Date Date (In thousands) Interest Rate Swaps $ 35,113 2.4210% 1-Month LIBOR 07/03/13 07/03/13 08/01/23 $ 35,113 Notional Fixed Variable Settlement Maturity Type Amount Rate Rate Index Date Date (In thousands) Interest Rate Swaps - Derivatives Offered to Clients $ 12,500 5.5050% 1-Month LIBOR 04/11/09 04/11/19 $ 12,500 Interest Rate Swaps - Mirror Image Derivatives $ 12,500 5.5050% 1-Month LIBOR 04/11/09 04/11/19 $ 12,500 |
Other Assets (Tables)
Other Assets (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Other asset | |
Schedule of Accrued interest receivable [Table Text Block] | December 31, 2017 2016 (In thousands) Loans, excluding acquired loans $ 46,936 $ 16,706 Investments 3,033 3,521 $ 49,969 $ 20,227 |
Schedule of Other Assets [Table Text Block] | Other assets at December 31 , 2017 and 2016 consist of the following December 31, 2017 2016 (In thousands) Prepaid expenses $ 9,200 $ 16,501 Other repossessed assets 3,548 3,224 Core deposit and customer relationship intangibles 4,687 6,160 Mortgage tax credits 4,277 6,277 Investment in Statutory Trust 1,083 1,083 Accounts receivable and other assets 41,898 47,120 $ 64,693 $ 80,365 |
Deposits and Related Interest (
Deposits and Related Interest (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Deposits, by Component, Alternative [Abstract] | |
Deposits By Component [Table Text Block] | December 31, 2017 2016 (In thousands) Non-interest bearing demand deposits $ 969,525 $ 848,502 Interest-bearing savings and demand deposits 2,274,116 2,219,452 Individual retirement accounts 231,376 265,754 Retail certificates of deposit 595,983 563,965 Institutional certificates of deposit 209,951 190,419 Total core deposits 4,280,951 4,088,092 Brokered deposits 518,531 576,395 Total deposits $ 4,799,482 $ 4,664,487 |
Interest Expense Domestic Deposit Liabilities [Table Text Block] | Year Ended December 31, 2017 2016 2015 (In thousands) Demand and savings deposits $ 11,426 $ 12,004 $ 12,414 Certificates of deposit 18,872 17,249 14,620 $ 30,298 $ 29,253 $ 27,034 |
Maturities Of Time Deposits [Table Text Block] | December 31, 2017 2017 2016 (In thousands) Within one year: Three (3) months or less $ 316,382 $ 277,621 Over 3 months through 1 year 508,285 534,548 824,667 812,169 Over 1 through 2 years 470,670 488,440 Over 2 through 3 years 137,016 154,545 Over 3 through 4 years 36,125 29,701 Over 4 through 5 years 38,623 41,949 $ 1,507,101 $ 1,526,804 |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Debt Instruments [Abstract] | |
Schedule Of Repurchase Agreement Counterparty [Table Text Block] | December 31, 2017 2016 Fair Value of Fair Value of Borrowing Underlying Borrowing Underlying Balance Collateral Balance Collateral (In thousands) PR Cash and Money Market Fund $ - $ - $ 70,010 $ 74,538 JP Morgan Chase Bank NA 82,500 88,974 350,219 376,674 Credit Suisse Securities (USA) LLC - - 232,000 249,286 Federal Home Loan Bank 110,000 116,509 - - Total $ 192,500 $ 205,483 $ 652,229 $ 700,498 |
Schedule of Repurchase Agreement by Maturity [Table text Block] | Weighted- Borrowing Average Maturity Year of Maturity Balance Coupon Settlement Date Date (In thousands) 2018 82,500 1.42% 12/30/2015 4/29/2018 2019 50,000 1.72% 3/2/2017 9/3/2019 2020 60,000 1.85% 3/2/2017 3/2/2020 $ 192,500 1.63% |
Schedule of Repurchase Agreements [Table] | December 31, 2017 Market Value of Underlying Collateral Weighted FNMA and Repurchase Average FHLMC Liability Rate Certificates Total (Dollars in thousands) Over 90 days 192,500 1.63% 205,483 205,483 Total $ 192,500 1.63% $ 205,483 $ 205,483 December 31, 2016 Market Value of Underlying Collateral Weighted FNMA and US Treasury Repurchase Average FHLMC GNMA Treasury Liability Rate Certificates Certificates Notes Total (Dollars in thousands) Less than 90 days $ 349,729 $ 3.35% 248,288 $ 75,536 $ 48,954 $ 372,778 Over 90 days 302,500 1.44% 327,627 93 - 327,720 Total $ 652,229 2.47% $ 575,915 $ 75,629 48,954 700,498 |
Repurchased Agreements Other Details[Table Text Block] | December 31, 2017 2016 (In thousands) Average daily aggregate balance outstanding $ 393,133 $ 663,845 Maximum outstanding balance at any month-end $ 606,210 $ 902,500 Weighted average interest rate during the year 1.80% 2.83% Weighted average interest rate at year end 1.63% 2.47% |
Federal Home Loan Bank Advances Maturities Summary [Table Text Block] | Weighted- Borrowing Average Maturity Year of Maturity Balance Coupon Settlement Date Date (In thousands) 2018 30,000 2.19% 1/16/2013 1/16/2018 25,000 2.18% 1/16/2013 1/16/2018 35,113 1.49% 12/1/2017 1/22/2018 90,113 2020 9,208 2.59% 7/19/2013 7/20/2020 $ 99,321 1.98% |
Offset of Assets_Liabilities (T
Offset of Assets/Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Offsetting [Abstract] | |
Offsetting Assets [Table Text Block] | December 31, 2017 Gross Amounts Not Offset in the Statement of Financial Condition Gross Amounts Net Amount of Offset in the Assets Presented Gross Amount Statement of in Statement Cash of Recognized Financial of Financial Financial Collateral Net Assets Condition Condition Instruments Received Amount (In thousands) Derivatives $ 771 $ - $ 771 $ 2,010 $ - $ (1,239) December 31, 2016 Gross Amounts Not Offset in the Statement of Financial Condition Gross Amounts Net amount of Offset in the Assets Presented Gross Amount Statement of in Statement Cash of Recognized Financial of Financial Financial Collateral Net Assets Condition Condition Instruments Received Amount (In thousands) Derivatives $ 1,330 $ - $ 1,330 $ 2,003 $ - $ (673) |
Offsetting Liabilities [Table Text Block] | December 31, 2017 Gross Amounts Not Offset in the Statement of Financial Condition Net Amount of Gross Amounts Liabilities Offset in the Presented Gross Amount Statement of in Statement Cash of Recognized Financial of Financial Financial Collateral Net Liabilities Condition Condition Instruments Provided Amount (In thousands) Derivatives $ 1,281 $ - $ 1,281 $ - $ 1,980 $ (699) Securities sold under agreements to repurchase 192,500 - 192,500 205,483 - (12,983) Total $ 193,781 $ - $ 193,781 $ 205,483 $ 1,980 $ (13,682) December 31, 2016 Gross Amounts Not Offset in the Statement of Financial Condition Net Amount of Gross Amounts Liabilities Offset in the Presented Gross Amount Statement of in Statement Cash of Recognized Financial of Financial Financial Collateral Net Liabilities Condition Condition Instruments Provided Amount (In thousands) Derivatives $ 2,437 $ - $ 2,437 $ - $ 1,980 $ 457 Securities sold under agreements to repurchase 652,229 - 652,229 700,498 - (48,269) Total $ 654,666 $ - $ 654,666 $ 700,498 $ 1,980 $ (47,812) |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Related Party Transactions [Abstract] | |
Schedule of Related Party Transactions [Table Text Block] | Year Ended December 31, 2017 2016 2015 (In thousands) Balance at the beginning of year $ 29,020 $ 31,475 $ 27,011 New loans and disbursements 2,875 2,329 13,581 Repayments (3,757) (4,784) (9,117) Balance at the end of year $ 28,138 $ 29,020 $ 31,475 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Income Taxes [Abstract] | |
Schedule Of Components Of Income Tax Expense Benefit Table Text Block | Year Ended December 31, 2017 2016 2015 (In thousands) Current income tax expense $ 19,101 $ 2,768 $ 19,775 Deferred income tax expense (benefit) (3,658) 23,226 (37,329) Total income tax expense (benefit) $ 15,443 $ 25,994 $ (17,554) |
Schedule Of Effective Income Tax Rate Reconciliation Table Text Block | Year Ended December 31, 2017 2016 2015 Amount Rate Amount Rate Amount Rate (Dollars in thousands) Income tax expense (benefit) at statutory rates $ 26,555 39.00% $ 33,220 39.00% $ (7,823) -39.00% Tax effect of exempt and excluded income, net (9,506) -13.96% (11,178) -13.12% (8,625) -43.00% Disallowed net operating loss carryover 281 0.41% 1,406 1.65% 556 2.77% Change in valuation allowance (305) -0.45% (9) -0.01% (2,219) -11.06% Release of unrecognized tax benefits, net (775) -1.14% (135) -0.16% (385) -1.92% Capital (gain) loss at preferential rate (279) -0.41% 2,394 2.81% 283 1.41% Other items, net (528) -0.79% 296 0.34% 659 3.28% Income tax expense (benefit) $ 15,443 22.66% $ 25,994 30.51% $ (17,554) -87.52% |
Summary Of Income Tax Contingencies Text Block | Year Ended December 31, 2017 2016 2015 In thousands) Balance at beginning of year $ 2,040 $ 2,175 $ 2,560 Additions for tax positions of prior years 97 229 175 Additions (reductions) due to new tax positions - 999 (560) Reduction for tax positions as a result of lapse of statute of limitations (877) (1,363) - Balance at end of year $ 1,260 $ 2,040 $ 2,175 |
Schedule Of Deferred Tax Assets And Liabilities Table Text Block | December 31, 2017 2016 (In thousands) Deferred tax asset: Allowance for loan and lease losses and other reserves $ 97,682 $ 84,959 Loans and other real estate valuation adjustment 10,457 11,120 Net operating loss carry forwards 5,169 9,686 Alternative minimum tax 15,672 15,799 Acquired portfolio 35,293 36,237 FDIC shared-loss indemnification asset - 5,344 Other assets allowances 858 1,547 Other deferred tax assets 5,304 5,116 Total gross deferred tax asset 170,435 169,808 Less: valuation allowance (3,135) (3,133) Net gross deferred tax assets 167,300 166,675 Deferred tax liability: FDIC-assisted acquisition, net (24,564) (25,862) Customer deposit and customer relationship intangibles (1,828) (2,402) Building valuation ajustment (9,069) (9,522) Servicing asset (3,830) (3,844) Other deferred tax liabilities (588) (845) Total gross deferred tax liabilities (39,879) $ (42,475) Net deferred tax asset $ 127,421 $ 124,200 |
Regulatory Capital Requiremen53
Regulatory Capital Requirements (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Regulatory Capital Requirements Abstract | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | OFG Bancorp ’s and the Bank’s actual capital amounts and ratios as of December 31 , 2017 and 2016 are as follows: Minimum Capital Minimum to be Well Actual Requirement Capitalized Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) OFG Bancorp Ratios As of December 31, 2017 Total capital to risk-weighted assets $ 899,258 20.34% $ 353,653 8.00% $ 442,067 10.00% Tier 1 capital to risk-weighted assets $ 842,133 19.05% $ 265,240 6.00% $ 353,653 8.00% Common equity tier 1 capital to risk-weighted assets $ 644,804 14.59% $ 198,930 4.50% $ 287,343 6.50% Tier 1 capital to average total assets $ 842,133 13.92% $ 242,057 4.00% $ 302,571 5.00% As of December 31, 2016 Total capital to risk-weighted assets $ 876,657 19.62% $ 357,404 8.00% $ 446,756 10.00% Tier 1 capital to risk-weighted assets $ 819,662 18.35% $ 268,053 6.00% $ 357,404 8.00% Common equity tier 1 capital to risk-weighted assets $ 627,733 14.05% $ 201,040 4.50% $ 290,391 6.50% Tier 1 capital to average total assets $ 819,662 12.99% $ 252,344 4.00% $ 315,430 5.00% Minimum Capital Minimum to be Well Actual Requirement Capitalized Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Bank Ratios As of December 31, 2017 Total capital to risk-weighted assets $ 879,648 19.92% $ 353,265 8.00% $ 441,581 10.00% Tier 1 capital to risk-weighted assets $ 822,776 18.63% $ 264,949 6.00% $ 353,265 8.00% Common equity tier 1 capital to risk-weighted assets $ 822,776 18.63% $ 198,712 4.50% $ 287,028 6.50% Tier 1 capital to average total assets $ 822,776 13.63% $ 241,417 4.00% $ 301,771 5.00% As of December 31, 2016 Total capital to risk-weighted assets $ 857,259 19.23% $ 356,596 8.00% $ 445,745 10.00% Tier 1 capital to risk-weighted assets $ 800,544 17.96% $ 267,447 6.00% $ 356,596 8.00% Common equity tier 1 capital to risk-weighted assets $ 800,544 17.96% $ 200,585 4.50% $ 289,734 6.50% Tier 1 capital to average total assets $ 800,544 12.75% $ 251,200 4.00% $ 314,000 5.00% |
Equity-Based Compensation Plan
Equity-Based Compensation Plan (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Share Based Compensation Abstract | |
Schedule Of Share Based Compensation Shares Authorized Under Stock Option Plans By Exercise Price Range Text Block | Year Ended December 31, 2017 2016 2015 Weighted Weighted Weighted Number Average Number Average Number Average Of Exercise Of Exercise Of Exercise Options Price Options Price Options Price Beginning of year 917,269 $ 14.08 951,523 $ 12.45 888,571 $ 14.12 Options granted - - - - 179,225 17.44 Options exercised (71,150) 12.96 (24,752) 12.43 (112,704) 19.78 Options forfeited (500) 15.23 (9,502) 16.68 (3,569) 16.06 End of year 845,619 $ 14.14 917,269 $ 14.08 951,523 $ 12.45 Outstanding Exercisable Weighted Average Weighted Contract Life Weighted Number of Average Remaining Number of Average Range of Exercise Prices Options Exercise Price (Years) Options Exercise Price $5.63 to $8.45 4,078 8.28 1.3 4,078 8.28 11.27 to 14.08 388,241 11.85 3.0 388,241 11.85 14.09 to 16.90 286,575 15.38 5.7 176,025 15.22 16.91 to 19.71 165,225 17.44 7.2 41,305 17.44 19.72 to 22.53 1,500 21.86 0.2 1,500 21.86 845,619 $ 14.14 4.7 611,149 $ 13.20 Aggregate Intrinsic Value $ - $ - |
Schedule Of Share Based Payment Award Stock Options Valuation Assumptions Table Text Block | Year Ended December 31, 2017 2016 2015 Weighted average assumptions: Dividend yield N/A N/A 1.89% Expected volatility N/A N/A 40.93% Risk-free interest rate N/A N/A 2.41% Expected life (in years) N/A N/A 8.0 |
Schedule Of Share based Compensation Restricted Stock And Restricted Stock Units Activity Table Text Block | Year Ended December 31, 2017 2016 2015 Weighted Weighted Weighted Average Average Average Restricted Grant Date Restricted Grant Date Restricted Grant Date Units Fair Value Units Fair Value Units Fair Value Beginning of year 59,800 $ 16.64 138,400 $ 16.17 153,050 $ 14.95 Restricted units granted 83,000 13.31 - - 26,700 16.66 Restricted units lapsed (33,100) 16.10 (76,903) 16.04 (39,750) 11.83 Restricted units forfeited (3,900) 16.79 (1,697) 17.02 (1,600) 15.45 End of year 105,800 $ 14.19 59,800 $ 16.64 138,400 $ 16.17 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Stockholders' Equity [Abstract] | |
Schedule of Treasury Stock by Class [Table Text Block] | Total number of Dollar amount of shares purchased as Average shares repurchased part of stock price paid (excluding repurchase programs per share commissions paid) (In thousands) Period April 2015 204,338 $ 14.38 $ 2,939 May 2015 48,200 13.09 631 June 2015 51,447 12.81 659 July 2015 500,000 9.39 4,696 Year Ended December 31, 2015 803,985 $ 11.10 $ 8,925 The activity in connection with common shares held in treasury by Oriental for the years ended December 31 , 2017 , 2016 and 2015 is set forth below Year Ended December 31, 2017 2016 2015 Dollar Dollar Dollar Shares Amount Shares Amount Shares Amount (In thousands, except shares data) Beginning of period 8,711,025 $ 104,860 8,757,960 $ 105,379 8,012,254 $ 97,070 Common shares used upon lapse of restricted stock units (32,598) (358) (46,935) (519) (58,279) (641) Common shares repurchased as part of the stock repurchase program - - - - 803,985 8,950 End of period 8,678,427 $ 104,502 8,711,025 $ 104,860 8,757,960 $ 105,379 |
Accumulated Other Comprehensi56
Accumulated Other Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Text Block Abstract | |
Schedule of Accumulated Other Comprehensive Income (Loss) | December 31, 2017 2016 (In thousands) Unrealized (loss) gain on securities available-for-sale which are not other-than-temporarily impaired $ (3,003) $ 1,617 Income tax effect of unrealized (loss) gain on securities available-for-sale 365 592 Net unrealized gain on securities available-for-sale which are not other-than-temporarily impaired (2,638) 2,209 Unrealized loss on cash flow hedges (510) (1,004) Income tax effect of unrealized loss on cash flow hedges 199 391 Net unrealized loss on cash flow hedges (311) (613) Accumulated other comprehensive (loss) income, net of income taxes $ (2,949) $ 1,596 Year Ended December 31, 2017 Net unrealized Net unrealized Accumulated gains on loss on other securities cash flow comprehensive available-for-sale hedges (loss) income (In thousands) Beginning balance $ 2,209 $ (613) $ 1,596 Other comprehensive loss before reclassifications (11,563) (186) (11,749) Amounts reclassified out of accumulated other comprehensive income (loss) 6,716 488 7,204 Other comprehensive income (loss) (4,847) 302 (4,545) Ending balance $ (2,638) $ (311) $ (2,949) Year Ended December 31, 2016 Net unrealized Net unrealized Accumulated gains on loss on other securities cash flow comprehensive available-for-sale hedges (loss) income (In thousands) Beginning balance $ 16,924 (2,927) 13,997 Other comprehensive loss before reclassifications (26,661) (1,628) (28,289) Amounts reclassified out of accumulated other comprehensive income (loss) 11,946 3,942 15,888 Other comprehensive income (loss) (14,715) 2,314 (12,401) Ending balance $ 2,209 $ (613) $ 1,596 Year Ended December 31, 2015 Net unrealized Net unrealized Accumulated gains on loss on other securities cash flow comprehensive available-for-sale hedges (loss) income (In thousands) Beginning balance $ 25,765 (6,054) 19,711 Other comprehensive loss before reclassifications (5,822) (3,019) (8,841) Other-than-temporary impairment amount reclassified from accumulated other comprehensive income (4,662) - (4,662) Amounts reclassified out of accumulated other comprehensive income (loss) 1,643 6,146 7,789 Other comprehensive income (loss) (8,841) 3,127 (5,714) Ending balance $ 16,924 $ (2,927) $ 13,997 |
Reclassification out of Accumulated Other Comprehensive Income [Table text block] | Amount reclassified out of accumulated other comprehensive (loss) income Affected Line Item in Year Ended December 31, Consolidated Statement 2017 2016 2015 of Operations (In thousands) Cash flow hedges: Interest-rate contracts $ 488 $ 3,642 $ 6,443 Net interest expense Tax effect from changes in tax rates - 300 (297) Income tax expense Available-for-sale securities: Gain on sale of investments 6,896 12,207 2,572 Net gain on sale of securities Other-than-temporary impairment losses on investment securities - - (1,490) Net impairment losses recognized in earnings Residual tax effect from OIB's change in applicable tax rate 104 32 45 Income tax expense Tax effect from changes in tax rates (284) (293) 516 Income tax expense $ 7,204 $ 15,888 $ 7,789 |
Earning Per Common Share (Table
Earning Per Common Share (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year Ended December 31, 2017 2016 2015 (In thousands, except per share data) Net income (loss) $ 52,646 $ 59,186 $ (2,504) Less: Dividends on preferred stock Non-convertible preferred stock (Series A, B, and D) (6,512) (6,512) (6,512) Convertible preferred stock (Series C) (7,350) (7,350) (7,350) Income (loss) Income available to common shareholders $ 38,784 $ 45,324 $ (16,366) Effect of assumed conversion of the convertible preferred stock 7,350 7,350 7,350 Income (loss) available to common shareholders assuming conversion $ 46,134 $ 52,674 $ (9,016) Weighted average common shares and share equivalents: Average common shares outstanding 43,939 43,913 44,231 Effect of dilutive securities: Average potential common shares-options 19 37 68 Average potential common shares-assuming conversion of convertible preferred stock 7,138 7,138 7,156 Total weighted average common shares outstanding and equivalents 51,096 51,088 51,455 Earnings (loss) per common share - basic $ 0.88 $ 1.03 $ (0.37) Earnings (loss) per common share - diluted $ 0.88 $ 1.03 $ (0.37) |
Guarantees (Tables)
Guarantees (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Guarantees [Abstract] | |
Schedule Of Guarantee Obligations Text Block | Year Ended December 31, 2017 2016 2015 (In thousands) Balance at beginning of period $ 710 $ 439 $ 927 Net (charge-offs/terminations) recoveries (352) 271 (488) Balance at end of period $ 358 $ 710 $ 439 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Commitments and Contingencies [Abstract] | |
Schedule Of Line Of Credit Facilities Text Block | December 31, 2017 2016 (In thousands) Commitments to extend credit $ 485,019 $ 492,885 Commercial letters of credit 494 2,721 December 31, 2017 2016 (In thousands) Standby letters of credit and financial guarantees $ 21,107 $ 4,041 Loans sold with recourse 6,420 20,126 |
Contractual Obligation Fiscal Year Maturity Schedule [Table Text Block] | Minimum Rent Year Ending December 31, (In thousands) 2018 $ 7,251 2019 6,345 2020 5,679 2021 4,796 2022 3,379 Thereafter 6,869 $ 34,319 |
Fair Value (Tables)
Fair Value (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis 1 [Table Text Block] | December 31, 2017 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ - $ 645,797 $ - $ 645,797 Trading securities - 191 - 191 Money market investments 7,021 - - 7,021 Derivative assets - 771 - 771 Servicing assets - - 9,821 9,821 Derivative liabilities - (1,281) - (1,281) $ 7,021 $ 645,478 $ 9,821 $ 662,320 Non-recurring fair value measurements: Impaired commercial loans $ - $ - $ 72,285 $ 72,285 Foreclosed real estate - - 44,174 44,174 Other repossessed assets - - 3,548 3,548 $ - $ - $ 120,007 $ 120,007 December 31, 2016 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ - $ 751,484 $ - $ 751,484 Trading securities - 347 - 347 Money market investments 5,606 - - 5,606 Derivative assets - 1,330 - 1,330 Servicing assets - - 9,858 9,858 Derivative liabilities - (2,437) - (2,437) $ 5,606 $ 750,724 $ 9,858 $ 766,188 Non-recurring fair value measurements: Impaired commercial loans $ - $ - $ 54,289 $ 54,289 Foreclosed real estate - - 47,520 47,520 Other repossessed assets - - 3,224 3,224 $ - $ - $ 105,033 $ 105,033 Year Ended December 31, 2017 Servicing Level 3 Instruments Only assets (In thousands) Balance at beginning of period $ 9,858 New instruments acquired 1,658 Principal repayments (590) Changes in fair value of servicing assets (1,105) Balance at end of period $ 9,821 Year Ended December 31, 2016 Derivative Derivative asset liability (S&P (S&P Purchased Servicing Embedded Level 3 Instruments Only Options) assets Options) Total (In thousands) Balance at beginning of period $ 1,171 $ 7,455 $ (1,095) $ 7,531 Gains (losses) included in earnings (1,171) - 1,067 (104) New instruments acquired - 2,616 - 2,616 Principal repayments - (489) - (489) Amortization - - 28 28 Changes in fair value of servicing assets - 276 - 276 Balance at end of period $ - $ 9,858 $ - $ 9,858 YearEnded December 31, 2015 Derivative Derivative asset liability (S&P (S&P Purchased Servicing Embedded Level 3 Instruments Only Options) assets Options) Total (In thousands) Balance at beginning of period $ 5,555 $ 13,992 $ (5,477) $ 14,070 Gains (losses) included in earnings (4,384) - 4,197 (187) Sale of mortgage servicing rights - (5,927) - (5,927) New instruments acquired - 2,620 - 2,620 Principal repayments - (1,017) - (1,017) Amortization - - 185 185 Changes in fair value related to price of MSR held-for-sale - (2,939) - (2,939) Changes in fair value of servicing assets - 726 - 726 Balance at end of period $ 1,171 $ 7,455 $ (1,095) $ 7,531 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Table Text Block] | December 31, 2017 Fair Value Valuation Technique Unobservable Input Range (In thousands) Servicing assets $ 9,821 Cash flow valuation Constant prepayment rate 3.94% -8.49% Discount rate 10.00% - 12.00% Collateral dependant impaired loans $ 36,734 Fair value of property or collateral Appraised value less disposition costs 20.20% - 36.20% Other non-collateral dependant impaired loans $ 35,551 Cash flow valuation Discount rate 4.15% - 10.50% Foreclosed real estate $ 44,174 Fair value of property or collateral Appraised value less disposition costs 20.20% - 36.20% Other repossessed assets $ 3,548 Fair value of property or collateral Estimated net realizable value less disposition costs 29.00% - 71.00% |
Fair Value By Balance Sheet Grouping [Text Block] | December 31, December 31, 2017 2016 Fair Carrying Fair Carrying Value Value Value Value (In thousands) Level 1 Financial Assets: Cash and cash equivalents $ 485,203 $ 485,203 $ 510,439 $ 510,439 Restricted cash $ 3,030 $ 3,030 $ 3,030 $ 3,030 Level 2 Financial Assets: Trading securities $ 191 $ 191 $ 347 $ 347 Investment securities available-for-sale $ 645,797 $ 645,797 $ 751,484 $ 751,484 Investment securities held-to-maturity $ 497,681 $ 506,064 $ 592,763 $ 599,884 Federal Home Loan Bank (FHLB) stock $ 13,995 $ 13,995 $ 10,793 $ 10,793 Other investments $ 3 $ 3 $ 3 $ 3 Derivative assets $ 771 $ 771 $ 1,330 $ 1,330 Financial Liabilities: Derivative liabilities $ 1,281 $ 1,281 $ 2,437 $ 2,437 Level 3 Financial Assets: Total loans (including loans held-for-sale) $ 3,842,907 $ 4,056,329 $ 3,917,340 $ 4,147,692 FDIC indemnification asset $ - $ - $ 8,669 $ 14,411 Accrued interest receivable $ 49,969 $ 49,969 $ 20,227 $ 20,227 Servicing assets $ 9,821 $ 9,821 $ 9,858 $ 9,858 Accounts receivable and other assets $ 41,898 $ 41,898 $ 47,120 $ 47,120 Financial Liabilities: Deposits $ 4,782,197 $ 4,799,482 $ 4,644,629 $ 4,664,487 Securities sold under agreements to repurchase $ 191,104 $ 192,869 $ 651,898 $ 653,756 Advances from FHLB $ 99,509 $ 99,643 $ 106,422 $ 105,454 Other borrowings $ 153 $ 153 $ 61 $ 61 Subordinated capital notes $ 33,080 $ 36,083 $ 30,230 $ 36,083 Accrued expenses and other liabilities $ 86,791 $ 86,791 $ 95,370 $ 95,370 |
Business Segments (Tables)
Business Segments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Year Ended December 31, 2017 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 311,503 $ 53 $ 34,091 $ 345,647 $ - $ 345,647 Interest expense (26,308) - (15,167) (41,475) - (41,475) Net interest income 285,195 53 18,924 304,172 - 304,172 Provision for loan and lease losses, net (113,108) - (31) (113,139) - (113,139) Non-interest income, net 45,102 26,069 7,516 78,687 - 78,687 Non-interest expenses (178,540) (17,830) (5,261) (201,631) - (201,631) Intersegment revenue 1,604 - 748 2,352 (2,352) - Intersegment expenses (748) (1,137) (467) (2,352) 2,352 - Income before income taxes $ 39,505 $ 7,155 $ 21,429 $ 68,089 $ - $ 68,089 Income tax expense (benefit) 15,407 2,790 (2,754) 15,443 - 15,443 Net income $ 24,098 $ 4,365 $ 24,183 $ 52,646 $ - $ 52,646 Total assets $ 5,597,077 $ 25,980 $ 1,536,417 $ 7,159,474 $ (970,421) $ 6,189,053 Year Ended December 31, 2016 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 321,868 $ 65 $ 34,659 $ 356,592 $ - $ 356,592 Interest expense (27,838) - (29,327) (57,165) - (57,165) Net interest income 294,030 65 5,332 299,427 - 299,427 Provision for loan and lease losses, net (65,076) - - (65,076) - (65,076) Non-interest income, net 35,587 26,788 4,444 66,819 - 66,819 Non-interest expenses (193,156) (17,443) (5,391) (215,990) - (215,990) Intersegment revenue 1,521 - 883 2,404 (2,404) - Intersegment expenses (883) (1,108) (413) (2,404) 2,404 - Income before income taxes $ 72,023 $ 8,302 $ 4,855 $ 85,180 $ - $ 85,180 Income tax expenses (benefit) 28,089 3,238 (5,333) 25,994 - 25,994 Net income $ 43,934 $ 5,064 $ 10,188 $ 59,186 $ - $ 59,186 Total assets $ 5,584,866 $ 23,315 $ 1,837,514 $ 7,445,695 $ (943,871) $ 6,501,824 Year Ended December 31, 2015 Wealth Total Major Consolidated Banking Management Treasury Segments Eliminations Total (In thousands) Interest income $ 367,620 $ 95 $ 38,853 $ 406,568 $ - $ 406,568 Interest expense (28,425) - (40,771) (69,196) - (69,196) Net interest income (loss) 339,195 95 (1,918) 337,372 - 337,372 Provision for non-covered loan and lease losses (161,501) - - (161,501) - (161,501) Non-interest income 24,004 28,288 284 52,576 - 52,576 Non-interest expenses (219,519) (22,564) (6,422) (248,505) - (248,505) Intersegment revenue 1,427 - 948 2,375 (2,375) - Intersegment expenses (948) (1,027) (400) (2,375) 2,375 - Loss) income before income taxes $ (17,342) $ 4,792 $ (7,508) $ (20,058) $ - $ (20,058) Income tax (benefit) expense (6,763) 1,869 (12,660) (17,554) - (17,554) Net (loss) income $ (10,579) $ 2,923 $ 5,152 $ (2,504) $ - $ (2,504) Total assets $ 5,867,874 $ 22,349 $ 2,126,921 $ 8,017,144 $ (917,995) $ 7,099,149 |
Holding Company Financial Inf62
Holding Company Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Condensed Financial Information Of Parent Company Only Disclosure Abstract | |
CondensedConsolidatingBalanceSheetTableTextBlock | December 31, 2017 2016 (In thousands) ASSETS Cash and cash equivalents $ 24,430 $ 22,573 Investment in bank subsidiary, equity method 941,198 920,085 Investment in nonbank subsidiaries, equity method 20,231 18,427 Due from bank subsidiary,net 22 92 Deferred tax asset, net 2,230 2,643 Other assets 1,616 2,085 Total assets $ 989,727 $ 965,905 LIABILITIES AND STOCKHOLDERS’ EQUITY Dividend payable 6,504 6,501 Due to affiliates - 237 Accrued expenses and other liabilities 2,033 2,673 Subordinated capital notes 36,083 36,083 Total liabilities 44,620 45,494 Stockholders’ equity 945,107 920,411 Total liabilities and stockholders’ equity $ 989,727 $ 965,905 |
CondensedConsolidatingStatementOfOperationsTableTextBlock | Year Ended December 31, 2017 2016 2015 (In thousands) Income: Interest income $ 188 $ 174 $ 321 Gain on sale of securities - 211 - Investment trading activities, net and other 4,511 4,066 4,007 Total income 4,699 4,451 4,328 Expenses: Interest expense 1,556 1,370 1,222 Operating expenses 6,700 7,179 6,866 Total expenses 8,256 8,549 8,088 (Loss) before income taxes (3,557) (4,098) (3,760) Income tax expense (benefit) 403 518 (3,088) (Loss) before changes in undistributed earnings of subsidiaries (3,960) (4,616) (672) Equity in undistributed earnings from: Bank subsidiary 51,612 58,580 (3,804) Nonbank subsidiaries 4,994 5,222 1,972 Net income (loss) $ 52,646 $ 59,186 $ (2,504) |
CondensedConsolidatingOtherComprenhensiveIncomeTableTextBlock | Year ended December 31, 2017 2016 2015 (In thousands) Net income (loss) $ 52,646 $ 59,186 $ (2,504) Other comprehensive (loss) before tax: Unrealized loss on securities available-for-sale - (204) (170) Other comprehensive income from bank subsidiary (4,545) (12,238) (5,578) Other comprehensive (loss) before taxes (4,545) (12,442) (5,748) Income tax effect - 41 34 Other comprehensive (loss) income after taxes (4,545) (12,401) (5,714) Comprehensive income (loss) $ 48,101 $ 46,785 $ (8,218) |
CondensedConsolidatingStatementOfCashFlowsTableTextBlock | Year Ended December 31, 2017 2016 2015 (In thousands) Cash flows from operating activities: Net income (loss) $ 52,646 $ 59,186 $ (2,504) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Equity in undistributed earnings from banking subsidiary (51,612) (58,580) 3,804 Equity in undistributed earnings from nonbanking subsidiaries (4,994) (5,222) (1,972) Amortization of investment securities premiums, net of accretion of discounts - 12 44 Realized gain on sale of securities - 211 - Stock-based compensation 1,109 1,270 1,637 Employee benefit adjustment (99) - - Deferred income tax, net 414 444 (3,088) Net decrease in other assets (205) 42 148 Net (decrease) in accrued expenses, other liabilities, and dividend payable (1,185) 800 (221) Dividends from banking subsidiary 26,743 17,600 45,000 Dividends from non-banking subsidiary 4,002 6,000 - Net cash provided by operating activities 26,819 21,763 42,848 Cash flows from investing activities: Maturities and redemptions of investment securities available-for-sale - 702 2,013 Proceeds from sales of investment securities available-for-sale - 4,888 - Net decrease (increase) in due from bank subsidiary, net 307 317 317 Proceeds from sales of premises and equipment - 324 - Capital contribution to banking subsidiary (788) (894) (1,167) Capital contribution to non-banking subsidiary (50) (68) (94) Additions to premises and equipment (19) (381) (132) Net cash (used in) provided by investing activities (550) 4,888 937 Cash flows from financing activities: Proceeds from (payments to) exercise of stock options and lapsed restricted units, net - (315) 204 Purchase of treasury stock - - (8,950) Dividends paid (24,412) (24,003) (31,623) Net cash used in financing activities (24,412) (24,318) (40,369) Net change in cash and cash equivalents 1,857 2,333 3,416 Cash and cash equivalents at beginning of year 22,573 20,240 16,824 Cash and cash equivalents at end of year $ 24,430 $ 22,573 $ 20,240 |
OFG BANCORP Holding Company Fin
OFG BANCORP Holding Company Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Condensed Financial Information Of Parent Company Only Disclosure Abstract | |
CondensedConsolidatingBalanceSheetTableTextBlock | December 31, 2017 2016 (In thousands) ASSETS Cash and cash equivalents $ 24,430 $ 22,573 Investment in bank subsidiary, equity method 941,198 920,085 Investment in nonbank subsidiaries, equity method 20,231 18,427 Due from bank subsidiary,net 22 92 Deferred tax asset, net 2,230 2,643 Other assets 1,616 2,085 Total assets $ 989,727 $ 965,905 LIABILITIES AND STOCKHOLDERS’ EQUITY Dividend payable 6,504 6,501 Due to affiliates - 237 Accrued expenses and other liabilities 2,033 2,673 Subordinated capital notes 36,083 36,083 Total liabilities 44,620 45,494 Stockholders’ equity 945,107 920,411 Total liabilities and stockholders’ equity $ 989,727 $ 965,905 |
CondensedConsolidatingStatementOfOperationsTableTextBlock | Year Ended December 31, 2017 2016 2015 (In thousands) Income: Interest income $ 188 $ 174 $ 321 Gain on sale of securities - 211 - Investment trading activities, net and other 4,511 4,066 4,007 Total income 4,699 4,451 4,328 Expenses: Interest expense 1,556 1,370 1,222 Operating expenses 6,700 7,179 6,866 Total expenses 8,256 8,549 8,088 (Loss) before income taxes (3,557) (4,098) (3,760) Income tax expense (benefit) 403 518 (3,088) (Loss) before changes in undistributed earnings of subsidiaries (3,960) (4,616) (672) Equity in undistributed earnings from: Bank subsidiary 51,612 58,580 (3,804) Nonbank subsidiaries 4,994 5,222 1,972 Net income (loss) $ 52,646 $ 59,186 $ (2,504) |
CondensedConsolidatingOtherComprenhensiveIncomeTableTextBlock | Year ended December 31, 2017 2016 2015 (In thousands) Net income (loss) $ 52,646 $ 59,186 $ (2,504) Other comprehensive (loss) before tax: Unrealized loss on securities available-for-sale - (204) (170) Other comprehensive income from bank subsidiary (4,545) (12,238) (5,578) Other comprehensive (loss) before taxes (4,545) (12,442) (5,748) Income tax effect - 41 34 Other comprehensive (loss) income after taxes (4,545) (12,401) (5,714) Comprehensive income (loss) $ 48,101 $ 46,785 $ (8,218) |
CondensedConsolidatingStatementOfCashFlowsTableTextBlock | Year Ended December 31, 2017 2016 2015 (In thousands) Cash flows from operating activities: Net income (loss) $ 52,646 $ 59,186 $ (2,504) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Equity in undistributed earnings from banking subsidiary (51,612) (58,580) 3,804 Equity in undistributed earnings from nonbanking subsidiaries (4,994) (5,222) (1,972) Amortization of investment securities premiums, net of accretion of discounts - 12 44 Realized gain on sale of securities - 211 - Stock-based compensation 1,109 1,270 1,637 Employee benefit adjustment (99) - - Deferred income tax, net 414 444 (3,088) Net decrease in other assets (205) 42 148 Net (decrease) in accrued expenses, other liabilities, and dividend payable (1,185) 800 (221) Dividends from banking subsidiary 26,743 17,600 45,000 Dividends from non-banking subsidiary 4,002 6,000 - Net cash provided by operating activities 26,819 21,763 42,848 Cash flows from investing activities: Maturities and redemptions of investment securities available-for-sale - 702 2,013 Proceeds from sales of investment securities available-for-sale - 4,888 - Net decrease (increase) in due from bank subsidiary, net 307 317 317 Proceeds from sales of premises and equipment - 324 - Capital contribution to banking subsidiary (788) (894) (1,167) Capital contribution to non-banking subsidiary (50) (68) (94) Additions to premises and equipment (19) (381) (132) Net cash (used in) provided by investing activities (550) 4,888 937 Cash flows from financing activities: Proceeds from (payments to) exercise of stock options and lapsed restricted units, net - (315) 204 Purchase of treasury stock - - (8,950) Dividends paid (24,412) (24,003) (31,623) Net cash used in financing activities (24,412) (24,318) (40,369) Net change in cash and cash equivalents 1,857 2,333 3,416 Cash and cash equivalents at beginning of year 22,573 20,240 16,824 Cash and cash equivalents at end of year $ 24,430 $ 22,573 $ 20,240 |
Significant Event (Narrative) (
Significant Event (Narrative) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Extraordinary And Unusual Items Abstract | |
Special provision due to significant event | $ 32.4 |
Incurred costs due to hurricane | 2.2 |
Insurance reimbursement | 1 |
Other assets receivable from insurance | 1.2 |
Estimated total losses | $ 6.6 |
Restricted Cash (Narrative) (De
Restricted Cash (Narrative) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Restricted Cash And Cash Equivalents Items Line Items | ||
Certificates Of Deposits Oriental International Banking | $ 300 | $ 300 |
Treasury Bill, Oriental Overseas Unit | 325 | |
Reserve required by local Goverment | 189,200 | 161,000 |
Deposit pledged as collateral | 3,030 | 3,030 |
Derivative | ||
Restricted Cash And Cash Equivalents Items Line Items | ||
Deposit pledged as collateral | 1,980 | 1,980 |
Residential Loans Sold with Recourse [Member] | ||
Restricted Cash And Cash Equivalents Items Line Items | ||
Deposit pledged as collateral | $ 1,050 | $ 1,050 |
Restricted Cash (Composition) (
Restricted Cash (Composition) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Restricted Cash And Cash Equivalents Items Line Items | ||
Deposit pledged as collateral | $ 3,030 | $ 3,030 |
Derivatives | ||
Restricted Cash And Cash Equivalents Items Line Items | ||
Deposit pledged as collateral | 1,980 | 1,980 |
Obligations under agreements of loans sold with recourse | ||
Restricted Cash And Cash Equivalents Items Line Items | ||
Deposit pledged as collateral | $ 1,050 | $ 1,050 |
Investment Securities (Narrativ
Investment Securities (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Investments, Debt and Equity Securities [Abstract] | ||||
Investments Guaranteed by US Treasury and Sponsored Agencies in Unrealized Loss on Position | $ 872,800 | |||
Investments Guaranteed by Puerto Rico Government and its Political Subdivisions in Unrealized Loss On Position | $ 2,500 | |||
Investments Guaranteed By Us Treasury And Sponsored Agencies in Unrealized Loss Position Percentage To Total Investment in Unrealized Loss Position | 99.70% | |||
Investments Guaranteed By Puerto Rico Government and Its Political Subdivisions in Unrealized Loss Position Percentage To Total Investment in Unrealized Loss Position | 0.30% | |||
Maximum GovernmentBond Probability Of Default | 4.40% | |||
Money market investments | $ 7,021 | $ 5,606 | ||
Securitized GNMA pools retained, amortized cost | $ 74,900 | $ 112,200 | ||
Securitized GNMA pool retained, yield | 3.14% | 2.89% | ||
Schedule of Available-for-sale Securities [Line Items] | ||||
Available-for-sale securities sold , Book Value | $ 250,100 | $ 288,276 | $ 101,259 | |
Gain (Loss) on Sale of Securities, Net | 6,896 | 12,207 | 2,572 | |
Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held | 0 | 0 | 1,490 | $ 0 |
Investments Guaranteed By Local Government And Its Political Subdivisions In Unrealized Loss On Position with Cumulative Default Probability Fair Value | $ 2,100 | |||
Investments Guaranteed By Local Government And Its Political Subdivisions In Unrealized Loss Position With Cumulative Default Percentage at Maturity | 85.00% | |||
Collateralized Mortgage Backed Securities [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Available-for-sale securities sold , Book Value | $ 166,015 | 277,181 | 101,259 | |
Collateralized Mortgage Backed Securities [Member] | FNMA and FHLMC [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Available-for-sale securities sold , Book Value | 102,311 | 277,181 | 37,736 | |
Collateralized Mortgage Backed Securities [Member] | Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Available-for-sale securities sold , Book Value | 63,704 | $ 63,523 | ||
Collateralized Mortgage Backed Securities [Member] | Obligations of Puerto Rico Government and Public Instrumentalities | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Available-for-sale securities sold , Book Value | $ 11,095 | |||
US Treasury Securities | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Available-for-sale securities sold , Book Value | $ 84,085 |
Investment Securities (Investme
Investment Securities (Investment securities) (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 648,800,000 | $ 749,867,000 |
Available-for-sale Securities, Gross Unrealized Gains | 2,940,000 | 8,740,000 |
Available-for-sale Securities, Gross Unrealized Losses | 5,943,000 | 7,123,000 |
Available-for-sale Securities | $ 645,797,000 | $ 751,484,000 |
Available for sale - Weighted Average Yield | 2.46% | 2.53% |
Held-to-maturity, Amortized cost | $ 506,064,000 | $ 599,884,000 |
Held to maturity Securities Unrecognized Gains | 0 | 145,000 |
Held-to-maturity Securities, Unrecognized Loss | 8,383,000 | 7,266,000 |
Held to maturity Fair Value | $ 497,681,000 | $ 592,763,000 |
Held to maturity - Weighted Average Yield | 2.07% | 2.15% |
Total Securities - Amortized Cost | $ 1,154,864,000 | $ 1,349,751,000 |
Total Securities Gross Unrealized Gains | 2,940,000 | 8,885,000 |
Total Securities Gross Unrealized Losses | 14,326,000 | 14,389,000 |
Total Securities Fair Value | $ 1,143,478,000 | $ 1,344,247,000 |
Marketable Securities Weighted Average Yield | 2.29% | 2.36% |
Collateralized Mortgage Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 631,656,000 | $ 689,772,000 |
Available-for-sale Securities, Gross Unrealized Gains | 2,888,000 | 8,659,000 |
Available-for-sale Securities, Gross Unrealized Losses | 5,420,000 | 5,879,000 |
Available-for-sale Securities | $ 629,124,000 | $ 692,552,000 |
Available for sale - Weighted Average Yield | 2.47% | 2.57% |
Held-to-maturity, Amortized cost | $ 506,064,000 | $ 599,884,000 |
Held to maturity Securities Unrecognized Gains | 0 | 145,000 |
Held-to-maturity Securities, Unrecognized Loss | 8,383,000 | 7,266,000 |
Held to maturity Fair Value | $ 497,681,000 | $ 592,763,000 |
Held to maturity - Weighted Average Yield | 2.07% | 2.15% |
Collateralized Mortgage Backed Securities [Member] | FNMA and FHLMC [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 383,194,000 | $ 422,168,000 |
Available-for-sale Securities, Gross Unrealized Gains | 1,402,000 | 6,354,000 |
Available-for-sale Securities, Gross Unrealized Losses | 2,881,000 | 3,036,000 |
Available-for-sale Securities | $ 381,715,000 | $ 425,486,000 |
Available for sale - Weighted Average Yield | 2.39% | 2.59% |
Held-to-maturity, Amortized cost | $ 506,064,000 | $ 599,884,000 |
Held to maturity Securities Unrecognized Gains | 0 | 145,000 |
Held-to-maturity Securities, Unrecognized Loss | 8,383,000 | 7,266,000 |
Held to maturity Fair Value | $ 497,681,000 | $ 592,763,000 |
Held to maturity - Weighted Average Yield | 2.07% | 2.15% |
Collateralized Mortgage Backed Securities [Member] | GNMA [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 166,436,000 | $ 163,614,000 |
Available-for-sale Securities, Gross Unrealized Gains | 1,486,000 | 2,241,000 |
Available-for-sale Securities, Gross Unrealized Losses | 584,000 | 620,000 |
Available-for-sale Securities | $ 167,338,000 | $ 165,235,000 |
Available for sale - Weighted Average Yield | 2.94% | 2.95% |
Held-to-maturity, Amortized cost | $ 0 | |
Held to maturity Fair Value | 0 | |
Collateralized Mortgage Backed Securities [Member] | CMO's [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 82,026,000 | $ 103,990,000 |
Available-for-sale Securities, Gross Unrealized Gains | 0 | 64,000 |
Available-for-sale Securities, Gross Unrealized Losses | 1,955,000 | 2,223,000 |
Available-for-sale Securities | $ 80,071,000 | $ 101,831,000 |
Available for sale - Weighted Average Yield | 1.90% | 1.88% |
Held-to-maturity, Amortized cost | $ 0 | |
Held to maturity Fair Value | 0 | |
Securities Investment [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 17,144,000 | $ 60,095,000 |
Available-for-sale Securities, Gross Unrealized Gains | 52,000 | 81,000 |
Available-for-sale Securities, Gross Unrealized Losses | 523,000 | 1,244,000 |
Available-for-sale Securities | $ 16,673,000 | $ 58,932,000 |
Available for sale - Weighted Average Yield | 2.04% | 2.04% |
Held-to-maturity, Amortized cost | $ 0 | |
Held to maturity Fair Value | 0 | |
Securities Investment [Member] | US Treasury Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 10,276,000 | $ 49,672,000 |
Available-for-sale Securities, Gross Unrealized Gains | 0 | 0 |
Available-for-sale Securities, Gross Unrealized Losses | 113,000 | 618,000 |
Available-for-sale Securities | $ 10,163,000 | $ 49,054,000 |
Available for sale - Weighted Average Yield | 1.25% | 1.73% |
Held-to-maturity, Amortized cost | $ 0 | |
Held to maturity Fair Value | 0 | |
Securities Investment [Member] | Obligation of US Government sponsored agencies at loss [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 2,927,000 | $ 3,903,000 |
Available-for-sale Securities, Gross Unrealized Gains | 0 | 0 |
Available-for-sale Securities, Gross Unrealized Losses | 48,000 | 19,000 |
Available-for-sale Securities | $ 2,879,000 | $ 3,884,000 |
Available for sale - Weighted Average Yield | 1.38% | 1.38% |
Held-to-maturity, Amortized cost | $ 0 | |
Held to maturity Fair Value | 0 | |
Securities Investment [Member] | Obligation of Puerto Rico Government and political subdivisions [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 2,455,000 | $ 4,680,000 |
Available-for-sale Securities, Gross Unrealized Gains | 0 | 0 |
Available-for-sale Securities, Gross Unrealized Losses | 362,000 | 607,000 |
Available-for-sale Securities | $ 2,093,000 | $ 4,073,000 |
Available for sale - Weighted Average Yield | 5.55% | 5.55% |
Securities Investment [Member] | Other Debt Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 1,486,000 | $ 1,840,000 |
Available-for-sale Securities, Gross Unrealized Gains | 52,000 | 81,000 |
Available-for-sale Securities, Gross Unrealized Losses | 0 | 0 |
Available-for-sale Securities | $ 1,538,000 | $ 1,921,000 |
Available for sale - Weighted Average Yield | 2.97% | 3.00% |
Held-to-maturity, Amortized cost | $ 0 | |
Held to maturity Fair Value | $ 0 |
Investment Securities (Invest69
Investment Securities (Investment securities by contractual maturity) (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | $ 648,800,000 | $ 749,867,000 |
Available-for-sale Securities | 645,797,000 | 751,484,000 |
Held-to-maturity, Amortized cost | 506,064,000 | 599,884,000 |
Held to maturity Fair Value | 497,681,000 | 592,763,000 |
Maturities Due From One To Five Years [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 19,283,000 | |
Available-for-sale Securities | 19,148,000 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Maturities Due From Five To Ten Years [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 200,144,000 | |
Available-for-sale Securities | 196,689,000 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Maturities Due After Ten Years [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 426,593,000 | |
Available-for-sale Securities | 427,543,000 | |
Held-to-maturity, Amortized cost | 506,064,000 | |
Held to maturity Fair Value | 497,681,000 | |
Collateralized Mortgage Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 631,656,000 | 689,772,000 |
Available-for-sale Securities | 629,124,000 | 692,552,000 |
Held-to-maturity, Amortized cost | 506,064,000 | 599,884,000 |
Held to maturity Fair Value | 497,681,000 | 592,763,000 |
Collateralized Mortgage Backed Securities [Member] | FNMA and FHLMC [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 383,194,000 | 422,168,000 |
Available-for-sale Securities | 381,715,000 | 425,486,000 |
Held-to-maturity, Amortized cost | 506,064,000 | 599,884,000 |
Held to maturity Fair Value | 497,681,000 | 592,763,000 |
Collateralized Mortgage Backed Securities [Member] | GNMA [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 166,436,000 | 163,614,000 |
Available-for-sale Securities | 167,338,000 | 165,235,000 |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Collateralized Mortgage Backed Securities [Member] | CMO's [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 82,026,000 | 103,990,000 |
Available-for-sale Securities | 80,071,000 | 101,831,000 |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Collateralized Mortgage Backed Securities [Member] | Maturities Due From One To Five Years [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 6,405,000 | |
Available-for-sale Securities | 6,430,000 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Collateralized Mortgage Backed Securities [Member] | Maturities Due From One To Five Years [Member] | FNMA and FHLMC [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 6,405,000 | |
Available-for-sale Securities | 6,430,000 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Collateralized Mortgage Backed Securities [Member] | Maturities Due From Five To Ten Years [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 198,658,000 | |
Available-for-sale Securities | 195,151,000 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Collateralized Mortgage Backed Securities [Member] | Maturities Due From Five To Ten Years [Member] | FNMA and FHLMC [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 126,096,000 | |
Available-for-sale Securities | 124,446,000 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Collateralized Mortgage Backed Securities [Member] | Maturities Due From Five To Ten Years [Member] | CMO's [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 72,562,000 | |
Available-for-sale Securities | 70,705,000 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Collateralized Mortgage Backed Securities [Member] | Maturities Due After Ten Years [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 426,593,000 | |
Available-for-sale Securities | 427,543,000 | |
Held-to-maturity, Amortized cost | 506,064,000 | |
Held to maturity Fair Value | 497,681,000 | |
Collateralized Mortgage Backed Securities [Member] | Maturities Due After Ten Years [Member] | FNMA and FHLMC [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 250,693,000 | |
Available-for-sale Securities | 250,839,000 | |
Held-to-maturity, Amortized cost | 506,064,000 | |
Held to maturity Fair Value | 497,681,000 | |
Collateralized Mortgage Backed Securities [Member] | Maturities Due After Ten Years [Member] | GNMA [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 166,436,000 | |
Available-for-sale Securities | 167,338,000 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Collateralized Mortgage Backed Securities [Member] | Maturities Due After Ten Years [Member] | CMO's [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 9,464,000 | |
Available-for-sale Securities | 9,366,000 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Investment Securities | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 17,144,000 | 60,095,000 |
Available-for-sale Securities | 16,673,000 | 58,932,000 |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Investment Securities | US Treasury Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 10,276,000 | 49,672,000 |
Available-for-sale Securities | 10,163,000 | 49,054,000 |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Investment Securities | Obligation of US Government sponsored agencies at loss [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 2,927,000 | 3,903,000 |
Available-for-sale Securities | 2,879,000 | 3,884,000 |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Investment Securities | Obligation of Puerto Rico Government and political subdivisions [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 2,455,000 | 4,680,000 |
Available-for-sale Securities | 2,093,000 | 4,073,000 |
Investment Securities | Other Debt Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 1,486,000 | 1,840,000 |
Available-for-sale Securities | 1,538,000 | $ 1,921,000 |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Investment Securities | Maturities Due In Less Than One Year [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 2,780,000 | |
Available-for-sale Securities | 2,417,000 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Investment Securities | Maturities Due In Less Than One Year [Member] | US Treasury Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 325,000 | |
Available-for-sale Securities | 324,000 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Investment Securities | Maturities Due In Less Than One Year [Member] | Obligation of Puerto Rico Government and political subdivisions [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 2,455,000 | |
Available-for-sale Securities | 2,093,000 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Investment Securities | Maturities Due From One To Five Years [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 12,878,000 | |
Available-for-sale Securities | 12,718,000 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Investment Securities | Maturities Due From One To Five Years [Member] | US Treasury Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 9,951,000 | |
Available-for-sale Securities | 9,839,000 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Investment Securities | Maturities Due From One To Five Years [Member] | Obligation of US Government sponsored agencies at loss [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 2,927,000 | |
Available-for-sale Securities | 2,879,000 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Investment Securities | Maturities Due From Five To Ten Years [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 1,486,000 | |
Available-for-sale Securities | 1,538,000 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | 0 | |
Investment Securities | Maturities Due From Five To Ten Years [Member] | Other Debt Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale Amortized Cost | 1,486,000 | |
Available-for-sale Securities | 1,538,000 | |
Held-to-maturity, Amortized cost | 0 | |
Held to maturity Fair Value | $ 0 |
Investment Securities (Gross re
Investment Securities (Gross realize gains and losses by category) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Schedule of Sale of Available-for-sale Securities [Line Items] | |||
Sale Price | $ 256,996 | $ 300,483 | $ 103,831 |
Book Value | 250,100 | 288,276 | 101,259 |
Available-for-sale Securities, Gross Realized Gains | 6,896 | 16,324 | 2,572 |
Available-for-sale Securities, Gross Realized Losses | 0 | 4,117 | 0 |
Collateralized Mortgage Backed Securities [Member] | |||
Schedule of Sale of Available-for-sale Securities [Line Items] | |||
Sale Price | 172,794 | 293,505 | 103,831 |
Book Value | 166,015 | 277,181 | 101,259 |
Available-for-sale Securities, Gross Realized Gains | 6,779 | 16,324 | 2,572 |
Available-for-sale Securities, Gross Realized Losses | 0 | 0 | 0 |
Collateralized Mortgage Backed Securities [Member] | FNMA and FHLMC [Member] | |||
Schedule of Sale of Available-for-sale Securities [Line Items] | |||
Sale Price | 107,510 | 293,505 | 40,307 |
Book Value | 102,311 | 277,181 | 37,736 |
Available-for-sale Securities, Gross Realized Gains | 5,199 | 16,324 | 2,571 |
Available-for-sale Securities, Gross Realized Losses | 0 | 0 | 0 |
Collateralized Mortgage Backed Securities [Member] | GNMA [Member] | |||
Schedule of Sale of Available-for-sale Securities [Line Items] | |||
Sale Price | 65,284 | 63,524 | |
Book Value | 63,704 | 63,523 | |
Available-for-sale Securities, Gross Realized Gains | 1,580 | 1 | |
Available-for-sale Securities, Gross Realized Losses | 0 | $ 0 | |
Collateralized Mortgage Backed Securities [Member] | Obligations of Puerto Rico Government and Public Instrumentalities | |||
Schedule of Sale of Available-for-sale Securities [Line Items] | |||
Sale Price | 6,978 | ||
Book Value | 11,095 | ||
Available-for-sale Securities, Gross Realized Gains | 0 | ||
Available-for-sale Securities, Gross Realized Losses | $ 4,117 | ||
Securities Investment [Member] | |||
Schedule of Sale of Available-for-sale Securities [Line Items] | |||
Sale Price | 84,202 | ||
Book Value | 84,085 | ||
Available-for-sale Securities, Gross Realized Gains | 117 | ||
Available-for-sale Securities, Gross Realized Losses | 0 | ||
Securities Investment [Member] | US Treasury Securities [Member] | |||
Schedule of Sale of Available-for-sale Securities [Line Items] | |||
Sale Price | 84,202 | ||
Book Value | 84,085 | ||
Available-for-sale Securities, Gross Realized Gains | 117 | ||
Available-for-sale Securities, Gross Realized Losses | $ 0 |
Investment Securities (Gains an
Investment Securities (Gains and losses by category) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Available For Sale Securities Continuous Unrealized Loss Position Amortized Cost [Abstract] | ||
Available for sale - Amortized cost - less than 12 month | $ 148,896 | $ 335,079 |
Available for sale - Amortized cost - more than 12 month | 220,334 | 38,563 |
Total Available for Sale Amortization cost | 369,230 | 373,642 |
Available For Sale Securities Continuous Unrealized Loss Position Aggregate Losses [Abstract] | ||
Available for sale - Unrealized Loss - less than 12 month | 942 | 5,723 |
Available for sale - Unrealized Loss - more than 12 month | 5,001 | 1,400 |
Total Available for Sale Unrealized Loss | 5,943 | 7,123 |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value [Abstract] | ||
Available for sale - Fair Value - less than 12 month | 147,954 | 329,356 |
Available-for-sale, Fair Value - more than 12 month | 215,333 | 37,163 |
Total Available for Sale Fair Value | 363,287 | 366,519 |
Continuous Unrealized Loss Position Amortized Cost [Abstract] | ||
Held to Maturity - Amortized cost - less than 12 month | 153,665 | 525,258 |
Held to Maturity - Amortized cost - more than 12 month | 352,399 | |
Held to Maturity - Amortized Cost | 506,064 | 525,258 |
Held To Maturity Securities, Continuous Unrealized Loss Position Aggregate Losses [Abstract] | ||
Held to Maturity- Unrealized Loss - less than 12 month | 1,119 | 7,266 |
Held to Maturity- Unrealized Loss - more than 12 month | 7,264 | |
Held to Maturity- Unrealized Loss | 8,383 | 7,266 |
Held To Maturity Securities Continuous Unrealized Loss Position Fair Value [Abstract] | ||
Held-to-Maturity - Fair Value - less than 12 Month | 152,546 | 517,992 |
Held-to-Maturity - Fair Value - more than 12 Month | 345,135 | |
Held to Maturity - Fair Value | 497,681 | 517,992 |
Investment Securities Continuous Unrealized Loss Position [Abstract] | ||
Investment Securities - Amortized Cost | 875,294 | 898,900 |
Investment Securities - Unrealized Loss | 14,326 | 14,389 |
Investment Securities - Fair Value | 860,968 | 884,511 |
CMO's issued by us government sponsored agencies at loss | ||
Available For Sale Securities Continuous Unrealized Loss Position Amortized Cost [Abstract] | ||
Available for sale - Amortized cost - less than 12 month | 9,464 | 67,777 |
Available for sale - Amortized cost - more than 12 month | 72,562 | 33,883 |
Total Available for Sale Amortization cost | 82,026 | 101,660 |
Available For Sale Securities Continuous Unrealized Loss Position Aggregate Losses [Abstract] | ||
Available for sale - Unrealized Loss - less than 12 month | 98 | 1,430 |
Available for sale - Unrealized Loss - more than 12 month | 1,857 | 793 |
Total Available for Sale Unrealized Loss | 1,955 | 2,223 |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value [Abstract] | ||
Available for sale - Fair Value - less than 12 month | 9,366 | 66,347 |
Available-for-sale, Fair Value - more than 12 month | 70,705 | 33,090 |
Total Available for Sale Fair Value | 80,071 | 99,437 |
Obligation of Puerto Rico Government and public instrumentalities at loss | ||
Available For Sale Securities Continuous Unrealized Loss Position Amortized Cost [Abstract] | ||
Available for sale - Amortized cost - more than 12 month | 2,455 | 4,680 |
Total Available for Sale Amortization cost | 2,455 | 4,680 |
Available For Sale Securities Continuous Unrealized Loss Position Aggregate Losses [Abstract] | ||
Available for sale - Unrealized Loss - more than 12 month | 362 | 607 |
Total Available for Sale Unrealized Loss | 362 | 607 |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value [Abstract] | ||
Available-for-sale, Fair Value - more than 12 month | 2,093 | 4,073 |
Total Available for Sale Fair Value | 2,093 | 4,073 |
FNMA and FHLMC [Member] | ||
Available For Sale Securities Continuous Unrealized Loss Position Amortized Cost [Abstract] | ||
Available for sale - Amortized cost - less than 12 month | 125,107 | 184,782 |
Available for sale - Amortized cost - more than 12 month | 111,635 | |
Total Available for Sale Amortization cost | 236,742 | 184,782 |
Available For Sale Securities Continuous Unrealized Loss Position Aggregate Losses [Abstract] | ||
Available for sale - Unrealized Loss - less than 12 month | 759 | 3,036 |
Available for sale - Unrealized Loss - more than 12 month | 2,122 | |
Total Available for Sale Unrealized Loss | 2,881 | 3,036 |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value [Abstract] | ||
Available for sale - Fair Value - less than 12 month | 124,348 | 181,746 |
Available-for-sale, Fair Value - more than 12 month | 109,513 | |
Total Available for Sale Fair Value | 233,861 | 181,746 |
Continuous Unrealized Loss Position Amortized Cost [Abstract] | ||
Held to Maturity - Amortized cost - less than 12 month | 153,665 | 525,258 |
Held to Maturity - Amortized cost - more than 12 month | 352,399 | |
Held to Maturity - Amortized Cost | 506,064 | 525,258 |
Held To Maturity Securities, Continuous Unrealized Loss Position Aggregate Losses [Abstract] | ||
Held to Maturity- Unrealized Loss - less than 12 month | 1,119 | 7,266 |
Held to Maturity- Unrealized Loss - more than 12 month | 7,264 | |
Held to Maturity- Unrealized Loss | 8,383 | 7,266 |
Held To Maturity Securities Continuous Unrealized Loss Position Fair Value [Abstract] | ||
Held-to-Maturity - Fair Value - less than 12 Month | 152,546 | 517,992 |
Held-to-Maturity - Fair Value - more than 12 Month | 345,135 | |
Held to Maturity - Fair Value | 497,681 | 517,992 |
Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | ||
Available For Sale Securities Continuous Unrealized Loss Position Amortized Cost [Abstract] | ||
Available for sale - Amortized cost - less than 12 month | 14,001 | 29,445 |
Available for sale - Amortized cost - more than 12 month | 20,803 | |
Total Available for Sale Amortization cost | 34,804 | 29,445 |
Available For Sale Securities Continuous Unrealized Loss Position Aggregate Losses [Abstract] | ||
Available for sale - Unrealized Loss - less than 12 month | 85 | 620 |
Available for sale - Unrealized Loss - more than 12 month | 499 | |
Total Available for Sale Unrealized Loss | 584 | 620 |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value [Abstract] | ||
Available for sale - Fair Value - less than 12 month | 13,916 | 28,825 |
Available-for-sale, Fair Value - more than 12 month | 20,304 | |
Total Available for Sale Fair Value | 34,220 | 28,825 |
Obligation of US Government sponsored agencies at loss [Member] | ||
Available For Sale Securities Continuous Unrealized Loss Position Amortized Cost [Abstract] | ||
Available for sale - Amortized cost - less than 12 month | 3,903 | |
Available for sale - Amortized cost - more than 12 month | 2,927 | |
Total Available for Sale Amortization cost | 2,927 | 3,903 |
Available For Sale Securities Continuous Unrealized Loss Position Aggregate Losses [Abstract] | ||
Available for sale - Unrealized Loss - less than 12 month | 19 | |
Available for sale - Unrealized Loss - more than 12 month | 48 | |
Total Available for Sale Unrealized Loss | 48 | 19 |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value [Abstract] | ||
Available for sale - Fair Value - less than 12 month | 3,884 | |
Available-for-sale, Fair Value - more than 12 month | 2,879 | |
Total Available for Sale Fair Value | 2,879 | 3,884 |
US Treasury Securities at loss | ||
Available For Sale Securities Continuous Unrealized Loss Position Amortized Cost [Abstract] | ||
Available for sale - Amortized cost - less than 12 month | 324 | 49,172 |
Available for sale - Amortized cost - more than 12 month | 9,952 | |
Total Available for Sale Amortization cost | 10,276 | 49,172 |
Available For Sale Securities Continuous Unrealized Loss Position Aggregate Losses [Abstract] | ||
Available for sale - Unrealized Loss - less than 12 month | 0 | 618 |
Available for sale - Unrealized Loss - more than 12 month | 113 | |
Total Available for Sale Unrealized Loss | 113 | 618 |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value [Abstract] | ||
Available for sale - Fair Value - less than 12 month | 324 | 48,554 |
Available-for-sale, Fair Value - more than 12 month | 9,839 | |
Total Available for Sale Fair Value | $ 10,163 | $ 48,554 |
Investment Securities (Other-th
Investment Securities (Other-than-temporarily Impaired Securities) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Other Than Temporary Impairment Credit Losses Recognized In Earnings Roll Forward | |||
Begging Balance | $ 0 | $ 1,490 | $ 0 |
Realized from Securities Sold during the period | 0 | 1,490 | 0 |
Additions from credit losses recognized on available-for-sale securities that had no previous impairment losses | 0 | 0 | 1,490 |
Ending Balance | $ 0 | $ 0 | $ 1,490 |
Pledge Assets (Details)
Pledge Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
FinancialInstrumentsOwnedAndPledgedAsCollateralLineItems | ||
Pledged Financial Instruments Not Separately Reported Securities Pledged | $ 1,658,398 | $ 2,324,006 |
Assets Not Pledged | 3,710,606 | 3,285,225 |
Investment Securities | ||
FinancialInstrumentsOwnedAndPledgedAsCollateralLineItems | ||
Assets Not Pledged | 921,610 | 648,125 |
Residential Mortgage Member | ||
FinancialInstrumentsOwnedAndPledgedAsCollateralLineItems | ||
Assets Not Pledged | 325,698 | 348,030 |
Commercial Loan [Member] | ||
FinancialInstrumentsOwnedAndPledgedAsCollateralLineItems | ||
Assets Not Pledged | 1,152,151 | 1,064,923 |
Consumer Loan [Member] | ||
FinancialInstrumentsOwnedAndPledgedAsCollateralLineItems | ||
Assets Not Pledged | 361,497 | 329,050 |
Auto and Leases Loan [Member] | ||
FinancialInstrumentsOwnedAndPledgedAsCollateralLineItems | ||
Assets Not Pledged | 949,650 | 895,097 |
Investment [Member] | Investment Securities | ||
FinancialInstrumentsOwnedAndPledgedAsCollateralLineItems | ||
Pledged Financial Instruments Not Separately Reported Securities Pledged | 230,251 | 703,243 |
Mortgage Loan [Member] | ||
FinancialInstrumentsOwnedAndPledgedAsCollateralLineItems | ||
Pledged Financial Instruments Not Separately Reported Securities Pledged | 971,772 | 1,028,234 |
Commercial Loan [Member] | ||
FinancialInstrumentsOwnedAndPledgedAsCollateralLineItems | ||
Pledged Financial Instruments Not Separately Reported Securities Pledged | 456,375 | 592,529 |
Securities sold under agreements to repurchase secured with cash or equivalents [Member] | ||
FinancialInstrumentsOwnedAndPledgedAsCollateralLineItems | ||
Pledged Financial Instruments Not Separately Reported Securities Pledged | 205,484 | 700,498 |
Puerto Rico public fund deposits [Member] | Investment [Member] | ||
FinancialInstrumentsOwnedAndPledgedAsCollateralLineItems | ||
Pledged Financial Instruments Not Separately Reported Securities Pledged | 22,948 | 0 |
Puerto Rico public fund deposits [Member] | Commercial Loan [Member] | ||
FinancialInstrumentsOwnedAndPledgedAsCollateralLineItems | ||
Pledged Financial Instruments Not Separately Reported Securities Pledged | 150,036 | 209,236 |
Puerto Rico Cash & Money Market Fund [Member] | ||
FinancialInstrumentsOwnedAndPledgedAsCollateralLineItems | ||
Pledged Financial Instruments Not Separately Reported Securities Pledged | 0 | 0 |
Interest Rate Swap [Member] | Investment [Member] | ||
FinancialInstrumentsOwnedAndPledgedAsCollateralLineItems | ||
Pledged Financial Instruments Not Separately Reported Securities Pledged | 1,478 | 2,397 |
Federal Reserve Bank Credit Facilities | Commercial Loan [Member] | ||
FinancialInstrumentsOwnedAndPledgedAsCollateralLineItems | ||
Pledged Financial Instruments Not Separately Reported Securities Pledged | 993 | 1,303 |
Bond For Trust Operation [Member] | Investment [Member] | ||
FinancialInstrumentsOwnedAndPledgedAsCollateralLineItems | ||
Pledged Financial Instruments Not Separately Reported Securities Pledged | 341 | 348 |
Federal Home Loan Bank Advances [Member] | Mortgage Loan [Member] | ||
FinancialInstrumentsOwnedAndPledgedAsCollateralLineItems | ||
Pledged Financial Instruments Not Separately Reported Securities Pledged | 971,772 | 1,028,234 |
Federal Home Loan Bank Advances [Member] | Commercial Loan [Member] | ||
FinancialInstrumentsOwnedAndPledgedAsCollateralLineItems | ||
Pledged Financial Instruments Not Separately Reported Securities Pledged | $ 305,346 | $ 381,990 |
Loans Receivable (Narratives) (
Loans Receivable (Narratives) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Jul. 05, 2017 | Dec. 31, 2016 |
Accounts Notes And Loans Receivable Line Items | |||
Financing Receivable Modifications Recorded Investment Not Included In Non Accrual | $ 109,200 | $ 98,100 | |
Originated Loans Granted To Puerto Rico Government | 94,900 | 136,600 | |
Acquired Credit Facilities Granted to the Puerto Rico Public Corporation | 50,300 | 66,200 | |
Impaired Commercial Loans | 72,300 | 54,300 | |
Allowance for impaired commercial loans | 10,600 | 1,800 | |
Impaired Mortgage Loans | 85,400 | 91,600 | |
Allowance For Impaired Mortgage Loans | 9,100 | $ 7,800 | |
Municipality loan, sale price | $ 28,800 | ||
Loans under forbearance program | 83 | ||
Unpaid Principal Balance of loans under forbearance program | $ 2,600,000 |
Loans Receivable (Composition o
Loans Receivable (Composition of loan portfolio) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 4,204,871 | $ 4,245,364 |
Allowance for loan and lease losses | (167,509) | (115,937) |
Loans, net of allowance for loan and lease losse, net. | 4,037,362 | 4,129,427 |
Deferred loan cost (fees), net | 6,695 | 5,766 |
Loans receivable net of deferred loan cost (fees) | 4,044,057 | 4,135,193 |
Mortgage loans held-for-sale | 12,272 | 12,499 |
Total loans, net | 4,056,329 | 4,147,692 |
Acquired BBVAPR loans [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 875,536 | 1,043,244 |
Allowance for loan and lease losses | (49,617) | (35,356) |
Loans, net of allowance for loan and lease losse, net. | 825,919 | 1,007,888 |
Deferred loan cost (fees), net | 0 | 0 |
Loans receivable net of deferred loan cost (fees) | 825,919 | 1,007,888 |
Total loans, net | 825,919 | 1,007,888 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 55,264 | 91,450 |
Allowance for loan and lease losses | (3,862) | (4,300) |
Loans, net of allowance for loan and lease losse, net. | 51,402 | 87,150 |
Loans receivable net of deferred loan cost (fees) | 51,402 | 87,150 |
Total loans, net | 51,402 | 87,150 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Commercial Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 4,380 | 5,562 |
Allowance for loan and lease losses | (42) | (169) |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Consumer Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 28,915 | 32,862 |
Allowance for loan and lease losses | (3,225) | (3,028) |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Auto Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 21,969 | 53,026 |
Allowance for loan and lease losses | (595) | (1,103) |
Acquired BBVAPR Accounted under ASC 310-30 [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 820,272 | 951,794 |
Allowance for loan and lease losses | (45,755) | (31,056) |
Loans, net of allowance for loan and lease losse, net. | 774,517 | 920,738 |
Deferred loan cost (fees), net | 0 | 0 |
Loans receivable net of deferred loan cost (fees) | 774,517 | 920,738 |
Total loans, net | 774,517 | 920,738 |
Acquired BBVAPR Accounted under ASC 310-30 [Member] | Mortgage Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 532,053 | 569,253 |
Allowance for loan and lease losses | (14,085) | (2,682) |
Acquired BBVAPR Accounted under ASC 310-30 [Member] | Commercial Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 243,092 | 292,564 |
Allowance for loan and lease losses | (23,691) | (23,452) |
Acquired BBVAPR Accounted under ASC 310-30 [Member] | Consumer Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 1,431 | 4,301 |
Allowance for loan and lease losses | (18) | 0 |
Acquired BBVAPR Accounted under ASC 310-30 [Member] | Auto Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 43,696 | 85,676 |
Allowance for loan and lease losses | (7,961) | (4,922) |
Eurobank Acquired Loans | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 124,443 | 155,850 |
Allowance for loan and lease losses | (25,174) | (21,281) |
Loans, net of allowance for loan and lease losse, net. | 99,269 | 134,569 |
Deferred loan cost (fees), net | 0 | 0 |
Loans receivable net of deferred loan cost (fees) | 99,269 | 134,569 |
Total loans, net | 99,269 | 134,569 |
Eurobank Acquired Loans | Commercial Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 53,793 | 81,460 |
Eurobank Acquired Loans | Consumer Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 1,112 | 1,372 |
Eurobank Acquired Loans | Loans secured by 1-4 family residential properties, covered [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 69,538 | 73,018 |
Originated Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 3,204,892 | 3,046,270 |
Allowance for loan and lease losses | (92,718) | (59,300) |
Loans, net of allowance for loan and lease losse, net. | 3,112,174 | 2,986,970 |
Deferred loan cost (fees), net | 6,695 | 5,766 |
Loans receivable net of deferred loan cost (fees) | 3,118,869 | 2,992,736 |
Total loans, net | 3,118,869 | 2,992,736 |
Originated Loan [Member] | Mortgage Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 683,607 | 721,494 |
Allowance for loan and lease losses | (20,439) | (17,344) |
Originated Loan [Member] | Commercial Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 1,307,261 | 1,277,866 |
Allowance for loan and lease losses | (30,258) | (8,995) |
Originated Loan [Member] | Consumer Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 330,039 | 290,515 |
Allowance for loan and lease losses | (16,454) | (13,067) |
Originated Loan [Member] | Auto and Leasing [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Loans and Leases Receivable, Gross, Carrying Amount | 883,985 | 756,395 |
Allowance for loan and lease losses | (25,567) | (19,463) |
Acquired loans [Member] | Eurobank Acquired Loans | ||
Loans And Leases Receivable Net Reported Amount | ||
Allowance for loan and lease losses | (25,174) | (21,281) |
Acquired loans [Member] | Eurobank Acquired Loans | Consumer Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Allowance for loan and lease losses | (5) | (6) |
Acquired loans [Member] | Eurobank Acquired Loans | Loans secured by 1-4 family residential properties, covered [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Allowance for loan and lease losses | (15,187) | (11,947) |
Acquired loans [Member] | Eurobank Acquired Loans | Commercial and Other Construction Loan [Member] | ||
Loans And Leases Receivable Net Reported Amount | ||
Allowance for loan and lease losses | $ (9,982) | $ (9,328) |
Loans Receivable (Aging of reco
Loans Receivable (Aging of recorded investment in gross loans) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | $ 4,204,871 | $ 4,245,364 |
Originated Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 36,092 | 57,678 |
60 - 89 Days Past Due | 22,151 | 43,274 |
Greater than 90 Days Past Due | 89,497 | 96,685 |
Total Past Due | 147,740 | 197,637 |
Current | 3,057,152 | 2,848,633 |
Total Loans | 3,204,892 | 3,046,270 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 7,361 | 2,863 |
Originated Loan [Member] | Mortgage Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 8,345 | 10,574 |
60 - 89 Days Past Due | 8,970 | 21,942 |
Greater than 90 Days Past Due | 67,497 | 75,668 |
Total Past Due | 84,812 | 108,184 |
Current | 598,795 | 613,310 |
Total Loans | 683,607 | 721,494 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 7,361 | 2,863 |
Originated Loan [Member] | Traditional loan | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 1,112 | 1,663 |
60 - 89 Days Past Due | 5,313 | 14,239 |
Greater than 90 Days Past Due | 36,763 | 44,716 |
Total Past Due | 43,188 | 60,618 |
Current | 510,345 | 524,471 |
Total Loans | 553,533 | 585,089 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 2,380 | 1,139 |
Originated Loan [Member] | Originated Up To The Year 2002 [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 86 | 196 |
60 - 89 Days Past Due | 938 | 2,176 |
Greater than 90 Days Past Due | 3,537 | 3,371 |
Total Past Due | 4,561 | 5,743 |
Current | 41,579 | 44,542 |
Total Loans | 46,140 | 50,285 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 467 | 158 |
Originated Loan [Member] | Originated In The Years 2003 And 2004 [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 92 | 156 |
60 - 89 Days Past Due | 1,077 | 3,872 |
Greater than 90 Days Past Due | 6,304 | 7,272 |
Total Past Due | 7,473 | 11,300 |
Current | 75,758 | 79,407 |
Total Loans | 83,231 | 90,707 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Originated In The Year 2005 [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 101 | 0 |
60 - 89 Days Past Due | 383 | 1,952 |
Greater than 90 Days Past Due | 3,348 | 4,306 |
Total Past Due | 3,832 | 6,258 |
Current | 40,669 | 43,751 |
Total Loans | 44,501 | 50,009 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 68 | 0 |
Originated Loan [Member] | Originated In The Year 2006 [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 242 | 506 |
60 - 89 Days Past Due | 604 | 2,905 |
Greater than 90 Days Past Due | 5,971 | 6,261 |
Total Past Due | 6,817 | 9,672 |
Current | 55,966 | 59,628 |
Total Loans | 62,783 | 69,300 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 66 | 0 |
Originated Loan [Member] | Originated In The Years 2007 2008 And 2009 [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 358 | 409 |
60 - 89 Days Past Due | 1,258 | 1,439 |
Greater than 90 Days Past Due | 8,561 | 11,732 |
Total Past Due | 10,177 | 13,580 |
Current | 58,505 | 63,149 |
Total Loans | 68,682 | 76,729 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 577 | 398 |
Originated Loan [Member] | Originated In The Years 2010 2011 2012 2013 [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 233 | 349 |
60 - 89 Days Past Due | 978 | 1,772 |
Greater than 90 Days Past Due | 7,393 | 10,417 |
Total Past Due | 8,604 | 12,538 |
Current | 116,674 | 127,322 |
Total Loans | 125,278 | 139,860 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 1,202 | 583 |
Originated Loan [Member] | Originated In Years 2014, 2015, 2016 and 2017 [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 0 | 47 |
60 - 89 Days Past Due | 75 | 123 |
Greater than 90 Days Past Due | 1,649 | 1,357 |
Total Past Due | 1,724 | 1,527 |
Current | 121,194 | 106,672 |
Total Loans | 122,918 | 108,199 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Home equity secured personal loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 0 | 0 |
Total Past Due | 0 | 0 |
Current | 256 | 337 |
Total Loans | 256 | 337 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | NonTraditional Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 326 | 498 |
Greater than 90 Days Past Due | 3,543 | 4,730 |
Total Past Due | 3,869 | 5,228 |
Current | 14,401 | 17,631 |
Total Loans | 18,270 | 22,859 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Loss Mitigation Program [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 7,233 | 8,911 |
60 - 89 Days Past Due | 3,331 | 7,205 |
Greater than 90 Days Past Due | 18,923 | 16,541 |
Total Past Due | 29,487 | 32,657 |
Current | 73,793 | 70,871 |
Total Loans | 103,280 | 103,528 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 4,981 | 1,724 |
Originated Loan [Member] | Total Traditional, non-traditional and loss mitigation program [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 8,345 | 10,574 |
60 - 89 Days Past Due | 8,970 | 21,942 |
Greater than 90 Days Past Due | 59,229 | 65,987 |
Total Past Due | 76,544 | 98,503 |
Current | 598,539 | 612,973 |
Total Loans | 675,083 | 711,476 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 7,361 | 2,863 |
Originated Loan [Member] | GNMA's Buy Back Option related | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 8,268 | 9,681 |
Total Past Due | 8,268 | 9,681 |
Current | 0 | 0 |
Total Loans | 8,268 | 9,681 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 1,581 | 1,092 |
60 - 89 Days Past Due | 1,039 | 510 |
Greater than 90 Days Past Due | 15,888 | 11,197 |
Total Past Due | 18,508 | 12,799 |
Current | 1,288,753 | 1,265,067 |
Total Loans | 1,307,261 | 1,277,866 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 1,117 | 154 |
60 - 89 Days Past Due | 936 | 410 |
Greater than 90 Days Past Due | 13,340 | 10,167 |
Total Past Due | 15,393 | 10,731 |
Current | 762,361 | 762,932 |
Total Loans | 777,754 | 773,663 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Corporate Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 0 | 0 |
Total Past Due | 0 | 0 |
Current | 235,426 | 242,770 |
Total Loans | 235,426 | 242,770 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Institutional Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 118 | 254 |
Total Past Due | 118 | 254 |
Current | 44,648 | 26,546 |
Total Loans | 44,766 | 26,800 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Middle Market Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 765 | 0 |
60 - 89 Days Past Due | 0 | 60 |
Greater than 90 Days Past Due | 3,527 | 3,319 |
Total Past Due | 4,292 | 3,379 |
Current | 225,649 | 231,602 |
Total Loans | 229,941 | 234,981 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Retail Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 352 | 154 |
60 - 89 Days Past Due | 936 | 350 |
Greater than 90 Days Past Due | 9,695 | 6,594 |
Total Past Due | 10,983 | 7,098 |
Current | 235,084 | 242,630 |
Total Loans | 246,067 | 249,728 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Floor Plan Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 0 | 0 |
Total Past Due | 0 | 0 |
Current | 3,998 | 2,989 |
Total Loans | 3,998 | 2,989 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Real Estate Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 0 | 0 |
Total Past Due | 0 | 0 |
Current | 17,556 | 16,395 |
Total Loans | 17,556 | 16,395 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Other Commercial and Industrial[Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 464 | 938 |
60 - 89 Days Past Due | 103 | 100 |
Greater than 90 Days Past Due | 2,548 | 1,030 |
Total Past Due | 3,115 | 2,068 |
Current | 526,392 | 502,135 |
Total Loans | 529,507 | 504,203 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Corporate Other Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 0 | 0 |
Total Past Due | 0 | 0 |
Current | 170,015 | 136,438 |
Total Loans | 170,015 | 136,438 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Institutional Other Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 0 | 0 |
Total Past Due | 0 | 0 |
Current | 125,591 | 180,285 |
Total Loans | 125,591 | 180,285 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Middle Market Other Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 881 | 0 |
Total Past Due | 881 | 0 |
Current | 84,482 | 81,633 |
Total Loans | 85,363 | 81,633 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Retail Other Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 455 | 930 |
60 - 89 Days Past Due | 103 | 100 |
Greater than 90 Days Past Due | 1,616 | 969 |
Total Past Due | 2,174 | 1,999 |
Current | 111,078 | 71,706 |
Total Loans | 113,252 | 73,705 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Floor Plan Other Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 9 | 8 |
60 - 89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 51 | 61 |
Total Past Due | 60 | 69 |
Current | 35,226 | 32,073 |
Total Loans | 35,286 | 32,142 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Consumer Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 4,406 | 3,298 |
60 - 89 Days Past Due | 1,743 | 1,808 |
Greater than 90 Days Past Due | 1,880 | 1,647 |
Total Past Due | 8,029 | 6,753 |
Current | 322,010 | 283,762 |
Total Loans | 330,039 | 290,515 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Credit Cards [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 246 | 527 |
60 - 89 Days Past Due | 130 | 283 |
Greater than 90 Days Past Due | 1,227 | 525 |
Total Past Due | 1,603 | 1,335 |
Current | 26,827 | 25,023 |
Total Loans | 28,430 | 26,358 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Overdrafts [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 20 | 16 |
60 - 89 Days Past Due | 6 | 12 |
Greater than 90 Days Past Due | 31 | 5 |
Total Past Due | 57 | 33 |
Current | 157 | 174 |
Total Loans | 214 | 207 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Unsecured personal lines of credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 259 | 41 |
60 - 89 Days Past Due | 54 | 4 |
Greater than 90 Days Past Due | 87 | 32 |
Total Past Due | 400 | 77 |
Current | 1,820 | 2,327 |
Total Loans | 2,220 | 2,404 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Unsecured personal loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 3,778 | 2,474 |
60 - 89 Days Past Due | 1,494 | 1,489 |
Greater than 90 Days Past Due | 223 | 1,081 |
Total Past Due | 5,495 | 5,044 |
Current | 278,982 | 241,228 |
Total Loans | 284,477 | 246,272 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Cash collateral personal loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 103 | 240 |
60 - 89 Days Past Due | 59 | 20 |
Greater than 90 Days Past Due | 312 | 4 |
Total Past Due | 474 | 264 |
Current | 14,224 | 15,010 |
Total Loans | 14,698 | 15,274 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Originated Loan [Member] | Auto and Leasing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 21,760 | 42,714 |
60 - 89 Days Past Due | 10,399 | 19,014 |
Greater than 90 Days Past Due | 4,232 | 8,173 |
Total Past Due | 36,391 | 69,901 |
Current | 847,594 | 686,494 |
Total Loans | 883,985 | 756,395 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 985 | 4,566 |
60 - 89 Days Past Due | 436 | 1,772 |
Greater than 90 Days Past Due | 2,804 | 1,797 |
Total Past Due | 4,225 | 8,135 |
Current | 51,039 | 83,315 |
Total Loans | 55,264 | 91,450 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 36 | 130 |
60 - 89 Days Past Due | 0 | 34 |
Greater than 90 Days Past Due | 1,270 | 452 |
Total Past Due | 1,306 | 616 |
Current | 3,074 | 4,946 |
Total Loans | 4,380 | 5,562 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 0 | 33 |
60 - 89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 1,047 | 329 |
Total Past Due | 1,047 | 362 |
Current | 393 | 2,171 |
Total Loans | 1,440 | 2,533 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Retail Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 0 | 33 |
60 - 89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 119 | 110 |
Total Past Due | 119 | 143 |
Current | 0 | 0 |
Total Loans | 119 | 143 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Floor Plan Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 928 | 219 |
Total Past Due | 928 | 219 |
Current | 393 | 2,171 |
Total Loans | 1,321 | 2,390 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Other Commercial and Industrial[Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 36 | 97 |
60 - 89 Days Past Due | 0 | 34 |
Greater than 90 Days Past Due | 223 | 123 |
Total Past Due | 259 | 254 |
Current | 2,681 | 2,775 |
Total Loans | 2,940 | 3,029 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Retail Other Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 36 | 97 |
60 - 89 Days Past Due | 0 | 34 |
Greater than 90 Days Past Due | 221 | 121 |
Total Past Due | 257 | 252 |
Current | 2,681 | 2,775 |
Total Loans | 2,938 | 3,027 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Floor Plan Other Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 2 | 2 |
Total Past Due | 2 | 2 |
Current | 0 | 0 |
Total Loans | 2 | 2 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Consumer Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 347 | 784 |
60 - 89 Days Past Due | 188 | 383 |
Greater than 90 Days Past Due | 1,355 | 828 |
Total Past Due | 1,890 | 1,995 |
Current | 27,025 | 30,867 |
Total Loans | 28,915 | 32,862 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Credit Cards [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 208 | 736 |
60 - 89 Days Past Due | 127 | 369 |
Greater than 90 Days Past Due | 1,310 | 708 |
Total Past Due | 1,645 | 1,813 |
Current | 24,822 | 28,280 |
Total Loans | 26,467 | 30,093 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Unsecured personal loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 139 | 48 |
60 - 89 Days Past Due | 61 | 14 |
Greater than 90 Days Past Due | 45 | 120 |
Total Past Due | 245 | 182 |
Current | 2,203 | 2,587 |
Total Loans | 2,448 | 2,769 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | 0 | 0 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Auto Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 - 59 Days Past Due | 602 | 3,652 |
60 - 89 Days Past Due | 248 | 1,355 |
Greater than 90 Days Past Due | 179 | 517 |
Total Past Due | 1,029 | 5,524 |
Current | 20,940 | 47,502 |
Total Loans | 21,969 | 53,026 |
Financing Receivable Recorded Investment 90 Days Past Due And Stil lAccruing | $ 0 | $ 0 |
Loans Receivable (BBVAPR Acquir
Loans Receivable (BBVAPR Acquired Loan 310-30 carrying amounts) (Details) - Acquired under ASC 310-30 Non-Covered Loans [Member] - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Accounts Notes And Loans Receivable Line Items | ||||
Financing Receivable Acquired With Deteriorated Credit Quality | $ 1,481,616 | $ 1,669,602 | ||
Non-acretable discount | 352,431 | 363,107 | $ 434,190 | $ 456,627 |
Cash expected to be collected | 1,129,185 | 1,306,495 | ||
Accretable yield | 308,913 | 354,701 | ||
Carrying amount, gross | 820,272 | 951,794 | ||
Allowance for loan and lease losses | 45,755 | 31,056 | ||
Carrying amount, net | $ 774,517 | $ 920,738 |
Loans Receivable (Accretable yi
Loans Receivable (Accretable yield and non-accretable discount activity) (Details) - Acquired under ASC 310-30 Non-Covered Loans [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |||
Balance at beginning of period | $ 354,701 | $ 361,688 | $ 445,946 |
Accretion Accretable | 58,957 | 75,637 | 112,113 |
Change in expected cash flow | 22,565 | 15,267 | 8,531 |
Transfer from (to) non-accretable discount | (9,396) | 53,383 | 19,324 |
Balance at end of period | 308,913 | 354,701 | 361,688 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | |||
Balance at beginning of period | 363,107 | 434,190 | 456,627 |
Change in actual and expected losses | (20,072) | (17,700) | (3,113) |
Transfer (to) from accretable yield | 9,396 | (53,383) | (19,324) |
Balance at end of period | 352,431 | 363,107 | 434,190 |
Mortgage Loan [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |||
Balance at beginning of period | 292,115 | 268,794 | 298,364 |
Accretion Accretable | 30,205 | 32,834 | 34,842 |
Change in expected cash flow | 2 | (1) | 0 |
Transfer from (to) non-accretable discount | (3,414) | 56,156 | 5,272 |
Balance at end of period | 258,498 | 292,115 | 268,794 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | |||
Balance at beginning of period | 305,615 | 374,772 | 389,839 |
Change in actual and expected losses | (9,528) | (13,001) | (9,795) |
Transfer (to) from accretable yield | 3,414 | (56,156) | (5,272) |
Balance at end of period | 299,501 | 305,615 | 374,772 |
Commercial Loan [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |||
Balance at beginning of period | 50,366 | 65,026 | 87,025 |
Accretion Accretable | 20,572 | 26,254 | 49,429 |
Change in expected cash flow | 22,250 | 14,259 | 8,532 |
Transfer from (to) non-accretable discount | (5,280) | (2,665) | 18,898 |
Balance at end of period | 46,764 | 50,366 | 65,026 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | |||
Balance at beginning of period | 16,965 | 18,545 | 26,555 |
Change in actual and expected losses | (11,649) | (4,245) | 10,888 |
Transfer (to) from accretable yield | 5,280 | 2,665 | (18,898) |
Balance at end of period | 10,596 | 16,965 | 18,545 |
Auto Loan [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |||
Balance at beginning of period | 8,538 | 21,578 | 53,998 |
Accretion Accretable | 6,339 | 13,567 | 23,463 |
Change in expected cash flow | 170 | 1,251 | 0 |
Transfer from (to) non-accretable discount | 397 | (724) | (8,957) |
Balance at end of period | 2,766 | 8,538 | 21,578 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | |||
Balance at beginning of period | 22,407 | 22,039 | 16,215 |
Change in actual and expected losses | 1,040 | (356) | (3,133) |
Transfer (to) from accretable yield | (397) | 724 | 8,957 |
Balance at end of period | 23,050 | 22,407 | 22,039 |
Consumer Loan [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |||
Balance at beginning of period | 3,682 | 6,290 | 6,559 |
Accretion Accretable | 1,841 | 2,982 | 4,379 |
Change in expected cash flow | 143 | (242) | (1) |
Transfer from (to) non-accretable discount | (1,099) | 616 | 4,111 |
Balance at end of period | 885 | 3,682 | 6,290 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | |||
Balance at beginning of period | 18,120 | 18,834 | 24,018 |
Change in actual and expected losses | 65 | (98) | (1,073) |
Transfer (to) from accretable yield | 1,099 | (616) | (4,111) |
Balance at end of period | $ 19,284 | $ 18,120 | $ 18,834 |
Loans Receivable (Eurobank Acqu
Loans Receivable (Eurobank Acquired Loan carrying amounts) (Details) - Eurobank Acquired Loans - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Accounts Notes And Loans Receivable Line Items | ||||
Financing Receivable Acquired With Deteriorated Credit Quality | $ 179,960 | $ 232,698 | ||
Non-acretable discount | 5,845 | 12,340 | $ 21,156 | $ 62,410 |
Cash expected to be collected | 174,115 | 220,358 | ||
Accretable yield | 49,672 | 64,508 | ||
Carrying amount, gross | 124,443 | 155,850 | ||
Financing Receivable, Allowance for Credit Losses | 25,174 | 21,281 | ||
Carrying amount, net | $ 99,269 | $ 134,569 |
Loans Receivable (Accretable 80
Loans Receivable (Accretable yield and non-accretable discount activity of acquired Eurobank loans) (Details) - Acquired Loans In An F D I C Assisted Transaction [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |||
Balance at beginning of period | $ 64,508 | $ 84,391 | $ 109,859 |
Accretion Accretable | 20,560 | 30,498 | 52,411 |
Change in expected cash flow | 2,665 | 14,456 | 34,497 |
Transfer from (to) non-accretable discount | 3,059 | (3,841) | (7,554) |
Balance at end of period | 49,672 | 64,508 | 84,391 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | |||
Balance at beginning of period | 12,340 | 21,156 | 62,410 |
Change in actual and expected losses | (3,436) | (12,657) | (48,808) |
Transfer (to) from accretable yield | (3,059) | 3,841 | 7,554 |
Balance at end of period | 5,845 | 12,340 | 21,156 |
Mortgage | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |||
Balance at beginning of period | 45,839 | 51,954 | 47,636 |
Accretion Accretable | 7,180 | 8,942 | 13,685 |
Change in expected cash flow | 121 | 2,134 | 4,631 |
Transfer from (to) non-accretable discount | 2,694 | 693 | 13,372 |
Balance at end of period | 41,474 | 45,839 | 51,954 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | |||
Balance at beginning of period | 8,441 | 12,869 | 27,348 |
Change in actual and expected losses | (1,171) | (3,735) | (1,107) |
Transfer (to) from accretable yield | (2,694) | (693) | (13,372) |
Balance at end of period | 4,576 | 8,441 | 12,869 |
Commercial and Other Construction Loan [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |||
Balance at beginning of period | 16,475 | 26,970 | 37,920 |
Accretion Accretable | 12,985 | 19,593 | 32,124 |
Change in expected cash flow | 1,881 | 13,722 | 44,660 |
Transfer from (to) non-accretable discount | 1,380 | (4,624) | (23,486) |
Balance at end of period | 6,751 | 16,475 | 26,970 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | |||
Balance at beginning of period | 3,880 | 0 | 24,464 |
Change in actual and expected losses | (2,224) | (744) | (47,950) |
Transfer (to) from accretable yield | (1,380) | 4,624 | 23,486 |
Balance at end of period | 276 | 3,880 | 0 |
Construction and development secured by family properties [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |||
Balance at beginning of period | 2,194 | 2,255 | 20,753 |
Accretion Accretable | 82 | 90 | 2,513 |
Change in expected cash flow | 121 | 1 | (15,048) |
Transfer from (to) non-accretable discount | (786) | 28 | (937) |
Balance at end of period | 1,447 | 2,194 | 2,255 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | |||
Balance at beginning of period | 11 | 0 | 0 |
Change in actual and expected losses | (39) | 39 | (937) |
Transfer (to) from accretable yield | 786 | (28) | 937 |
Balance at end of period | 758 | 11 | 0 |
Auto and Leasing [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |||
Balance at beginning of period | 0 | 0 | 2,479 |
Accretion Accretable | 30 | 60 | 3,458 |
Change in expected cash flow | (217) | (15) | (51) |
Transfer from (to) non-accretable discount | 247 | 75 | 1,030 |
Balance at end of period | 0 | 0 | 0 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | |||
Balance at beginning of period | 0 | 0 | 0 |
Change in actual and expected losses | 247 | 75 | 1,030 |
Transfer (to) from accretable yield | (247) | (75) | (1,030) |
Balance at end of period | 0 | 0 | 0 |
Consumer Loan [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |||
Balance at beginning of period | 0 | 3,212 | 1,071 |
Accretion Accretable | 283 | 1,813 | 631 |
Change in expected cash flow | 759 | (1,386) | 305 |
Transfer from (to) non-accretable discount | (476) | (13) | 2,467 |
Balance at end of period | 0 | 0 | 3,212 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non Accretable Discount Movement Schedule [Roll Forward] | |||
Balance at beginning of period | 8 | 8,287 | 10,598 |
Change in actual and expected losses | (249) | (8,292) | 156 |
Transfer (to) from accretable yield | 476 | 13 | (2,467) |
Balance at end of period | $ 235 | $ 8 | $ 8,287 |
Loans Receivable (Investment in
Loans Receivable (Investment in loans on non-accrual status) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 99,714 | $ 104,090 |
Originated Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 96,910 | 101,295 |
Originated Loan [Member] | Traditional loan | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 34,527 | 45,256 |
Originated Loan [Member] | Originated Up To The Year 2002 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 3,070 | 3,336 |
Originated Loan [Member] | Originated In The Years 2003 And 2004 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 6,380 | 7,668 |
Originated Loan [Member] | Originated In The Year 2005 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 3,280 | 4,487 |
Originated Loan [Member] | Originated In The Year 2006 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 5,905 | 6,746 |
Originated Loan [Member] | Originated In The Years 2007 2008 And 2009 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 7,984 | 11,526 |
Originated Loan [Member] | Originated In The Years 2010 2011 2012 2013 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 6,259 | 10,089 |
Originated Loan [Member] | Originated In Years 2014, 2015, 2016 and 2017 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,649 | 1,404 |
Originated Loan [Member] | NonTraditional Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 3,543 | 4,730 |
Originated Loan [Member] | Loss Mitigation Program [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 16,783 | 20,744 |
Originated Loan [Member] | Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 35,253 | 19,532 |
Originated Loan [Member] | Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 25,950 | 16,243 |
Originated Loan [Member] | Institutional Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 118 | 0 |
Originated Loan [Member] | Retail Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 14,438 | 11,561 |
Originated Loan [Member] | Middle Market Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 11,394 | 4,682 |
Originated Loan [Member] | Other Commercial and Industrial[Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 9,303 | 3,289 |
Originated Loan [Member] | Middle Market Other Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 6,323 | 1,278 |
Originated Loan [Member] | Retail Other Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,929 | 1,950 |
Originated Loan [Member] | Floor Plan Other Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 51 | 61 |
Originated Loan [Member] | Consumer Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,572 | 1,981 |
Originated Loan [Member] | Credit Cards [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,227 | 525 |
Originated Loan [Member] | Overdrafts [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 31 | 0 |
Originated Loan [Member] | Unsecured personal lines of credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 102 | 32 |
Originated Loan [Member] | Unsecured personal loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 900 | 1,420 |
Originated Loan [Member] | Cash collateral personal loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 312 | 4 |
Originated Loan [Member] | Auto and Leasing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 4,232 | 9,052 |
Acquired loans accounted for under ASC 310-20 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,804 | 2,795 |
Acquired loans accounted for under ASC 310-20 [Member] | Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,270 | 1,415 |
Acquired loans accounted for under ASC 310-20 [Member] | Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,047 | 1,292 |
Acquired loans accounted for under ASC 310-20 [Member] | Floor Plan Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 928 | 1,149 |
Acquired loans accounted for under ASC 310-20 [Member] | Retail Commercial Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 119 | 143 |
Acquired loans accounted for under ASC 310-20 [Member] | Other Commercial and Industrial[Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 223 | 123 |
Acquired loans accounted for under ASC 310-20 [Member] | Retail Other Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 221 | 121 |
Acquired loans accounted for under ASC 310-20 [Member] | Floor Plan Other Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2 | 2 |
Acquired loans accounted for under ASC 310-20 [Member] | Consumer Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,355 | 828 |
Acquired loans accounted for under ASC 310-20 [Member] | Credit Cards [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,310 | 708 |
Acquired loans accounted for under ASC 310-20 [Member] | Unsecured personal loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 45 | 120 |
Acquired loans accounted for under ASC 310-20 [Member] | Auto Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 179 | $ 552 |
Loans Receivable (Recorded Inve
Loans Receivable (Recorded Investment in loans individually evaluated for impairment) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Financing Receivable, Impaired [Line Items] | ||
Allowance for loan and lease losses | $ 167,509 | $ 115,937 |
Originated Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | 174,915 | 162,322 |
Recorded Investment | 156,941 | 144,789 |
Allowance for loan and lease losses | $ 19,694 | $ 9,387 |
Coverage | 0.13% | 0.06% |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 926 | $ 1,184 |
Recorded Investment | 747 | 1,150 |
Allowance for loan and lease losses | $ 20 | $ 141 |
Coverage | 0.03% | 0.12% |
Acquired BBVAPR Accounted under ASC 310-30 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 843,423 | $ 887,646 |
Recorded Investment | 818,303 | 850,454 |
Allowance for loan and lease losses | $ 45,755 | $ 31,056 |
Coverage | 0.06% | 0.04% |
Eurobank Acquired Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 139,246 | $ 170,038 |
Recorded Investment | 123,335 | 146,530 |
Allowance for loan and lease losses | $ 25,174 | $ 21,281 |
Coverage | 0.20% | 0.15% |
Commercial impaired loans with specific allowance [Member] | Originated Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 57,922 | $ 13,183 |
Recorded Investment | 52,585 | 11,698 |
Allowance for loan and lease losses | $ 10,573 | $ 1,626 |
Coverage | 0.20% | 0.14% |
Commercial impaired loans with specific allowance [Member] | Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 926 | $ 944 |
Recorded Investment | 747 | 929 |
Allowance for loan and lease losses | $ 20 | $ 141 |
Coverage | 0.03% | 0.15% |
Residential troubled-debt restructuring impaired loans with specific allowance [Member] | Originated Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 94,971 | $ 100,101 |
Recorded Investment | 85,403 | 91,650 |
Allowance for loan and lease losses | $ 9,121 | $ 7,761 |
Coverage | 0.11% | 0.08% |
Commercial impaired loans with no specific allowance financing receivable | Originated Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 22,022 | $ 49,038 |
Recorded Investment | $ 18,953 | $ 41,441 |
Coverage | 0.00% | 0.00% |
Commercial impaired loans with no specific allowance financing receivable | Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 0 | $ 240 |
Recorded Investment | $ 0 | $ 221 |
Coverage | 0.00% | 0.00% |
Mortgage impaired loan pool [Member] | Acquired BBVAPR Accounted under ASC 310-30 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 547,064 | $ 595,757 |
Recorded Investment | 532,052 | 569,250 |
Allowance for loan and lease losses | $ 14,085 | $ 2,682 |
Coverage | 0.03% | 0.00% |
Commercial impaired loan pool [Member] | Acquired BBVAPR Accounted under ASC 310-30 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 250,451 | $ 199,092 |
Recorded Investment | 241,124 | 195,528 |
Allowance for loan and lease losses | $ 23,691 | $ 23,452 |
Coverage | 0.10% | 0.12% |
Auto impaired loan pool. | Acquired BBVAPR Accounted under ASC 310-30 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 43,440 | $ 92,797 |
Recorded Investment | 43,696 | 85,676 |
Allowance for loan and lease losses | $ 7,961 | $ 4,922 |
Coverage | 0.18% | 0.06% |
Consumer impaired loan pool. | Acquired BBVAPR Accounted under ASC 310-30 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 2,468 | |
Recorded Investment | 1,431 | |
Allowance for loan and lease losses | $ 18 | |
Coverage | 0.01% | |
Consumer impaired loan pool. | Eurobank Acquired Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 15 | $ 29 |
Recorded Investment | 4 | 1,372 |
Allowance for loan and lease losses | $ 5 | $ 6 |
Coverage | 1.25% | 0.00% |
Loans secured by 1-4 family residential properties, covered [Member] | Eurobank Acquired Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 81,132 | $ 88,017 |
Recorded Investment | 69,538 | 73,018 |
Allowance for loan and lease losses | $ 15,187 | $ 11,947 |
Coverage | 0.22% | 0.16% |
Commercial and Other Construction Loan [Member] | Eurobank Acquired Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal | $ 58,099 | $ 81,992 |
Recorded Investment | 53,793 | 72,140 |
Allowance for loan and lease losses | $ 9,982 | $ 9,328 |
Coverage | 0.19% | 0.13% |
Loans Receivable (Interest Inco
Loans Receivable (Interest Income Recognized in loans individually evaluated for impairment) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Loan [Member] | |||
Impaired Financing Receivable Interest Income Accrual Method [Abstract] | |||
Total Interest Income | $ 5,714 | $ 5,583 | $ 4,849 |
Impaired Financing Receivable Average Recorded Investment [Abstract] | |||
Total Average Recorded Investment | 150,671 | 251,489 | 330,207 |
Originated Loans [Member] | |||
Impaired Financing Receivable Interest Income Accrual Method [Abstract] | |||
Total Interest Income | 5,714 | 5,583 | 4,849 |
Impaired Financing Receivable Average Recorded Investment [Abstract] | |||
Total Average Recorded Investment | 149,877 | 250,562 | 330,207 |
Acquired loans accounted for under ASC 310-20 [Member] | |||
Impaired Financing Receivable Interest Income Accrual Method [Abstract] | |||
Total Interest Income | 0 | 0 | 0 |
Impaired Financing Receivable Average Recorded Investment [Abstract] | |||
Total Average Recorded Investment | 0 | 608 | 0 |
Commercial Loan [Member] | Originated Loans [Member] | |||
Impaired Financing Receivable Interest Income Accrual Method [Abstract] | |||
Impaired Financing Receivable With Related Allowance Interest Income Accrual Method | 1,538 | 452 | 280 |
Impaired Financing Receivable With No Related Allowance Interest Income Accrual Method | 875 | 1,941 | 1,350 |
Impaired Financing Receivable Average Recorded Investment [Abstract] | |||
Impaired Financing Receivable With Related Allowance Average Recorded Investment | 25,797 | 118,980 | 175,115 |
Impaired Financing Receivable With No Related Allowance Average Recorded Investment | 36,666 | 40,443 | 64,356 |
Commercial Loan [Member] | Acquired loans accounted for under ASC 310-20 [Member] | |||
Impaired Financing Receivable Interest Income Accrual Method [Abstract] | |||
Impaired Financing Receivable With Related Allowance Interest Income Accrual Method | 0 | 0 | 0 |
Impaired Financing Receivable With No Related Allowance Interest Income Accrual Method | 0 | 0 | 0 |
Impaired Financing Receivable Average Recorded Investment [Abstract] | |||
Impaired Financing Receivable With Related Allowance Average Recorded Investment | 794 | 319 | 0 |
Impaired Financing Receivable With No Related Allowance Average Recorded Investment | 0 | 608 | 0 |
Troubled Debt Restructuring [Member] | Originated Loans [Member] | |||
Impaired Financing Receivable Interest Income Accrual Method [Abstract] | |||
Impaired Financing Receivable With Related Allowance Interest Income Accrual Method | 3,301 | 3,190 | 3,219 |
Impaired Financing Receivable Average Recorded Investment [Abstract] | |||
Impaired Financing Receivable With Related Allowance Average Recorded Investment | $ 87,414 | $ 91,139 | $ 90,736 |
Loans Receivable (TDR Pre_Post
Loans Receivable (TDR Pre/Post Modifications) (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017USD ($)number | Dec. 31, 2016USD ($)number | Dec. 31, 2015USD ($)number | |
Mortgage Loan [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | number | 85 | 90 | 160 |
Financing Receivable Modifications Pre Modification Recorded Investment | $ 10,441 | $ 11,684 | $ 21,053 |
Pre Modification Weighted Average Rate | 6.23% | 6.05% | 5.42% |
Pre Modification Weighted Average Term | 390 months | 351 months | 356 months |
Financing Receivable Modifications Post Modification Recorded Investment | $ 10,343 | $ 11,625 | $ 21,182 |
Post Modification Weighted Average Rate | 4.40% | 4.77% | 4.35% |
Post Modification Weighted Average Term | 384 months | 439 months | 272 months |
Commercial Loan [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | number | 24 | 20 | 9 |
Financing Receivable Modifications Pre Modification Recorded Investment | $ 13,828 | $ 9,833 | $ 5,664 |
Pre Modification Weighted Average Rate | 6.05% | 5.73% | 6.79% |
Pre Modification Weighted Average Term | 57 months | 64 months | 66 months |
Financing Receivable Modifications Post Modification Recorded Investment | $ 13,829 | $ 10,151 | $ 13,174 |
Post Modification Weighted Average Rate | 5.73% | 5.93% | 4.57% |
Post Modification Weighted Average Term | 62 months | 116 months | 56 months |
Consumer Loan [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | number | 107 | 75 | 64 |
Financing Receivable Modifications Pre Modification Recorded Investment | $ 1,391 | $ 817 | $ 611 |
Pre Modification Weighted Average Rate | 11.68% | 13.60% | 13.85% |
Pre Modification Weighted Average Term | 62 months | 73 months | 71 months |
Financing Receivable Modifications Post Modification Recorded Investment | $ 1,430 | $ 902 | $ 898 |
Post Modification Weighted Average Rate | 10.85% | 11.23% | 13.43% |
Post Modification Weighted Average Term | 69 months | 66 months | 60 months |
Auto Loan [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | number | 9 | 5 | |
Financing Receivable Modifications Pre Modification Recorded Investment | $ 134 | $ 130 | |
Pre Modification Weighted Average Rate | 7.24% | 10.51% | |
Pre Modification Weighted Average Term | 66 months | 65 months | |
Financing Receivable Modifications Post Modification Recorded Investment | $ 135 | $ 131 | |
Post Modification Weighted Average Rate | 11.75% | 10.87% | |
Post Modification Weighted Average Term | 37 months | 61 months |
Loans Receivable (Troubled debt
Loans Receivable (Troubled debt restructurings, Rolling Twelve Months) (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017USD ($)number | Dec. 31, 2016USD ($)number | Dec. 31, 2015USD ($)number | |
Mortgage Loan [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | number | 34 | 19 | 65 |
Recored Investment | $ | $ 3,129 | $ 2,241 | $ 7,387 |
Commercial Loan [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | number | 5 | 2 | 0 |
Recored Investment | $ | $ 452 | $ 157 | $ 0 |
Consumer Loan [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | number | 20 | 11 | 8 |
Recored Investment | $ | $ 249 | $ 126 | $ 177 |
Auto [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | number | 0 | 0 | 1 |
Recored Investment | $ | $ 0 | $ 0 | $ 64 |
Loans Receivable (Credit Qualit
Loans Receivable (Credit Quality Indicator of loans) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 4,204,871 | $ 4,245,364 |
Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 3,204,892 | 3,046,270 |
Commercial Secured [Member] | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 777,754 | 773,663 |
Pass | 665,664 | 679,337 |
Special Mention | 47,221 | 45,340 |
Substandard | 64,869 | 48,986 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Commercial Secured [Member] | Acquired loans (under ASC 310-20) [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 1,440 | 2,533 |
Pass | 393 | 905 |
Special Mention | 0 | 337 |
Substandard | 1,047 | 1,291 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Corporate | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 235,426 | 242,770 |
Pass | 200,395 | 226,768 |
Special Mention | 33,094 | 16,002 |
Substandard | 1,937 | 0 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Institutional | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 44,766 | 26,800 |
Pass | 33,856 | 16,067 |
Special Mention | 0 | 9,090 |
Substandard | 10,910 | 1,643 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Middle Market | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 229,941 | 234,981 |
Pass | 196,058 | 194,913 |
Special Mention | 4,749 | 11,689 |
Substandard | 29,134 | 28,379 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Retail | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 246,067 | 249,728 |
Pass | 215,121 | 222,205 |
Special Mention | 8,058 | 8,559 |
Substandard | 22,888 | 18,964 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Retail | Acquired loans (under ASC 310-20) [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 119 | 143 |
Pass | 0 | 0 |
Special Mention | 0 | 0 |
Substandard | 119 | 143 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Floor Plan | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 3,998 | 2,989 |
Pass | 2,678 | 2,989 |
Special Mention | 1,320 | 0 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Floor Plan | Acquired loans (under ASC 310-20) [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 1,321 | 2,390 |
Pass | 393 | 905 |
Special Mention | 0 | 337 |
Substandard | 928 | 1,148 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Real Estate | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 17,556 | 16,395 |
Pass | 17,556 | 16,395 |
Special Mention | 0 | 0 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Other commercial and industrial [Member] | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 529,507 | 504,203 |
Pass | 496,138 | 478,189 |
Special Mention | 22,350 | 19,795 |
Substandard | 11,019 | 6,219 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Other commercial and industrial [Member] | Acquired loans (under ASC 310-20) [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 2,940 | 3,029 |
Pass | 2,933 | 3,014 |
Special Mention | 0 | 0 |
Substandard | 7 | 15 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Corporate | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 170,015 | 136,438 |
Pass | 157,683 | 136,438 |
Special Mention | 12,332 | 0 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Institutional | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 125,591 | 180,285 |
Pass | 125,591 | 180,185 |
Special Mention | 0 | 100 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Middle Market | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 85,363 | 81,633 |
Pass | 71,222 | 63,556 |
Special Mention | 6,386 | 16,150 |
Substandard | 7,755 | 1,927 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Retail | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 113,252 | 73,705 |
Pass | 109,477 | 68,743 |
Special Mention | 562 | 731 |
Substandard | 3,213 | 4,231 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Retail | Acquired loans (under ASC 310-20) [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 2,938 | 3,027 |
Pass | 2,933 | 3,014 |
Special Mention | 0 | 0 |
Substandard | 5 | 13 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Floor Plan | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 35,286 | 32,142 |
Pass | 32,165 | 29,267 |
Special Mention | 3,070 | 2,814 |
Substandard | 51 | 61 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Floor Plan | Acquired loans (under ASC 310-20) [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 2 | 2 |
Pass | 0 | 0 |
Special Mention | 0 | 0 |
Substandard | 2 | 2 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Total Commercial subject to risk rating [Member] | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 1,307,261 | 1,277,866 |
Pass | 1,161,802 | 1,157,526 |
Special Mention | 69,571 | 65,135 |
Substandard | 75,888 | 55,205 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Total Commercial subject to risk rating [Member] | Acquired loans (under ASC 310-20) [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 4,380 | 5,562 |
Pass | 3,326 | 3,919 |
Special Mention | 0 | 337 |
Substandard | 1,054 | 1,306 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Retail [Member] | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 1,897,631 | 1,768,404 |
Pass | 1,823,998 | 1,682,886 |
Special Mention | 0 | 0 |
Substandard | 73,633 | 85,518 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Retail [Member] | Acquired loans (under ASC 310-20) [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 50,884 | 85,888 |
Pass | 49,348 | 84,545 |
Special Mention | 0 | 0 |
Substandard | 1,536 | 1,343 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Mortgage Loan [Member] | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 683,607 | 721,494 |
Pass | 616,110 | 645,826 |
Special Mention | 0 | 0 |
Substandard | 67,497 | 75,668 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Conventional Loan [Member] | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 553,533 | 585,089 |
Pass | 516,770 | 540,373 |
Special Mention | 0 | 0 |
Substandard | 36,763 | 44,716 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
NonTraditional Mortgage [Member] | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 18,270 | 22,859 |
Pass | 14,727 | 18,129 |
Special Mention | 0 | 0 |
Substandard | 3,543 | 4,730 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Loss Mitigation Program [Member] | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 103,280 | 103,528 |
Pass | 84,357 | 86,987 |
Special Mention | 0 | 0 |
Substandard | 18,923 | 16,541 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Home equity secured personal loans [Member] | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 256 | 337 |
Pass | 256 | 337 |
Special Mention | 0 | 0 |
Substandard | 0 | 0 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Option on Loans | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 8,268 | 9,681 |
Pass | 0 | 0 |
Special Mention | 0 | 0 |
Substandard | 8,268 | 9,681 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Consumer Loan [Member] | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 330,039 | 290,515 |
Pass | 328,135 | 288,839 |
Special Mention | 0 | 0 |
Substandard | 1,904 | 1,676 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Consumer Loan [Member] | Acquired loans (under ASC 310-20) [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 28,915 | 32,862 |
Pass | 27,558 | 32,035 |
Special Mention | 0 | 0 |
Substandard | 1,357 | 827 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Credit Cards [Member] | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 28,430 | 26,358 |
Pass | 27,203 | 25,833 |
Special Mention | 0 | 0 |
Substandard | 1,227 | 525 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Credit Cards [Member] | Acquired loans (under ASC 310-20) [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 26,467 | 30,093 |
Pass | 25,156 | 29,386 |
Special Mention | 0 | 0 |
Substandard | 1,311 | 707 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Overdrafts [Member] | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 214 | 207 |
Pass | 158 | 174 |
Special Mention | 0 | 0 |
Substandard | 56 | 33 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Unsecured personal lines of credit [Member] | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 2,220 | 2,404 |
Pass | 2,133 | 2,372 |
Special Mention | 0 | 0 |
Substandard | 87 | 32 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Unsecured personal loans [Member] | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 284,477 | 246,272 |
Pass | 284,255 | 245,190 |
Special Mention | 0 | 0 |
Substandard | 222 | 1,082 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Cash collateral personal loans [Member] | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 14,698 | 15,274 |
Pass | 14,386 | 15,270 |
Special Mention | 0 | 0 |
Substandard | 312 | 4 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Personal loans [Member] | Acquired loans (under ASC 310-20) [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 2,448 | 2,769 |
Pass | 2,402 | 2,649 |
Special Mention | 0 | 0 |
Substandard | 46 | 120 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Auto and Leasing [Member] | Originated Loan [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 883,985 | 756,395 |
Pass | 879,753 | 748,221 |
Special Mention | 0 | 0 |
Substandard | 4,232 | 8,174 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Auto Loan [Member] | Acquired loans (under ASC 310-20) [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 21,969 | 53,026 |
Pass | 21,790 | 52,510 |
Special Mention | 0 | 0 |
Substandard | 179 | 516 |
Doubtful | 0 | 0 |
Loss | 0 | 0 |
Total Commercial and Retail Loans Subject To Risk Rating Member [Member] | ||
Credit Quality Indicators [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 3,260,156 | 3,137,720 |
Pass | 3,038,474 | 2,928,876 |
Special Mention | 69,571 | 65,472 |
Substandard | 152,111 | 143,372 |
Doubtful | 0 | 0 |
Loss | $ 0 | $ 0 |
Loans Receivable (Risk category
Loans Receivable (Risk category of gross loans not subject to risk rating ) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Not Subject To Risk Rating [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 4,204,871 | $ 4,245,364 |
Financing Receivable, Individually Evaluated for Impairment | $ 72,285 | $ 54,289 |
Allowance for Loan and Lease 88
Allowance for Loan and Lease Losses (Narrative) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Financing Receivable, Recorded Investment [Line Items] | |
Special provision due to hurricane | $ 32.4 |
Special provision due to hurricane, originated loans portfolio | 17.5 |
Special provision due to hurricane, originated mortgage loans portfolio | 3.8 |
Special provision due to hurricane, originated auto loans portfolio | 4.7 |
Special provision due to hurricane, originated commercial loans portfolio | 7.3 |
Special provision due to hurricane, originated consumer loans portfolio | 1.7 |
Special provision due to hurricane, acquired loans portfolio | 14.9 |
Special provision due to hurricane, acquired mortgage loans portfolio | 6.7 |
Special provision due to hurricane, acquired commercial loans portfolio | 7.9 |
Special provision due to hurricane, acquired auto loans portfolio | $ 0.3 |
Allowance for Loan and Lease 89
Allowance for Loan and Lease Losses (Composition of the Company's allowance for loan and lease losses) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | $ 167,509 | $ 115,937 |
Acquired BBVAPR loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 49,617 | 35,356 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 3,862 | 4,300 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Commercial Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 42 | 169 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Consumer Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 3,225 | 3,028 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Auto Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 595 | 1,103 |
Acquired BBVAPR accounted under ASC 310-30 [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 45,755 | 31,056 |
Acquired BBVAPR accounted under ASC 310-30 [Member] | Mortgage Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 14,085 | 2,682 |
Acquired BBVAPR accounted under ASC 310-30 [Member] | Commercial Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 23,691 | 23,452 |
Acquired BBVAPR accounted under ASC 310-30 [Member] | Consumer Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 18 | 0 |
Acquired BBVAPR accounted under ASC 310-30 [Member] | Auto Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 7,961 | 4,922 |
Eurobank Acquired Loans | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 25,174 | 21,281 |
Originated Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 92,718 | 59,300 |
Originated Loan [Member] | Mortgage Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 20,439 | 17,344 |
Originated Loan [Member] | Commercial Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 30,258 | 8,995 |
Originated Loan [Member] | Consumer Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 16,454 | 13,067 |
Originated Loan [Member] | Auto and Leasing [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 25,567 | 19,463 |
Originated Loan [Member] | Unallocated [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 0 | 431 |
Acquired loans [Member] | Eurobank Acquired Loans | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 25,174 | 21,281 |
Acquired loans [Member] | Eurobank Acquired Loans | Consumer Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 5 | 6 |
Acquired loans [Member] | Eurobank Acquired Loans | Loans secured by 1-4 family residential properties, covered [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | 15,187 | 11,947 |
Acquired loans [Member] | Eurobank Acquired Loans | Commercial and Other Construction Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan and lease losses | $ 9,982 | $ 9,328 |
Allowance for Loan and Lease 90
Allowance for Loan and Lease Losses (Allowance for loan and lease losses) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Provision For Loan And Lease Losses | $ 113,139 | $ 65,076 | $ 161,501 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Balance at beginning of period | 4,300 | 5,542 | 4,597 |
Charge-offs | 4,156 | 5,816 | 9,345 |
Recoveries | 1,871 | 2,319 | 2,821 |
Provision For Loan And Lease Losses | 1,847 | 2,255 | 7,469 |
Balance at end of period | 3,862 | 4,300 | 5,542 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Commercial Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Balance at beginning of period | 169 | 26 | 65 |
Charge-offs | 132 | 42 | 42 |
Recoveries | 5 | 73 | 31 |
Provision For Loan And Lease Losses | 0 | 112 | (28) |
Balance at end of period | 42 | 169 | 26 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Consumer Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Balance at beginning of period | 3,028 | 3,429 | 1,211 |
Charge-offs | 3,048 | 3,619 | 4,755 |
Recoveries | 446 | 301 | 680 |
Provision For Loan And Lease Losses | 2,799 | 2,917 | 6,293 |
Balance at end of period | 3,225 | 3,028 | 3,429 |
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Auto Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Balance at beginning of period | 1,103 | 2,087 | 3,321 |
Charge-offs | 976 | 2,155 | 4,548 |
Recoveries | 1,420 | 1,945 | 2,110 |
Provision For Loan And Lease Losses | (952) | (774) | 1,204 |
Balance at end of period | 595 | 1,103 | 2,087 |
Originated Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Balance at beginning of period | 59,300 | 112,626 | 51,439 |
Charge-offs | 61,856 | 112,497 | 53,001 |
Recoveries | 15,389 | 14,113 | 14,852 |
Provision For Loan And Lease Losses | 79,885 | 45,058 | 99,336 |
Balance at end of period | 92,718 | 59,300 | 112,626 |
Originated Loan [Member] | Mortgage Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Balance at beginning of period | 17,344 | 18,352 | 19,679 |
Charge-offs | 6,623 | 6,767 | 5,397 |
Recoveries | 585 | 330 | 391 |
Provision For Loan And Lease Losses | 9,133 | 5,429 | 3,679 |
Balance at end of period | 20,439 | 17,344 | 18,352 |
Originated Loan [Member] | Commercial Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Balance at beginning of period | 8,995 | 64,791 | 8,432 |
Charge-offs | 7,684 | 62,445 | 5,546 |
Recoveries | 1,281 | 460 | 432 |
Provision For Loan And Lease Losses | 27,666 | 6,189 | 61,473 |
Balance at end of period | 30,258 | 8,995 | 64,791 |
Originated Loan [Member] | Consumer Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Balance at beginning of period | 13,067 | 11,197 | 9,072 |
Charge-offs | 13,641 | 11,554 | 8,683 |
Recoveries | 1,209 | 452 | 871 |
Provision For Loan And Lease Losses | 15,819 | 12,972 | 9,937 |
Balance at end of period | 16,454 | 13,067 | 11,197 |
Originated Loan [Member] | Leasing [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Balance at beginning of period | 19,463 | 18,261 | 14,255 |
Charge-offs | 33,908 | 31,731 | 33,375 |
Recoveries | 12,314 | 12,871 | 13,158 |
Provision For Loan And Lease Losses | 27,698 | 20,062 | 24,223 |
Balance at end of period | 25,567 | 19,463 | 18,261 |
Originated Loan [Member] | Auto and Leasing | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Balance at beginning of period | 19,463 | 18,261 | |
Balance at end of period | 25,567 | 19,463 | 18,261 |
Originated Loan [Member] | Unallocated Financing Receivables | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Balance at beginning of period | 431 | 25 | 1 |
Charge-offs | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 |
Provision For Loan And Lease Losses | (431) | 406 | 24 |
Balance at end of period | 0 | 431 | 25 |
Acquired loans [Member] | Acquired BBVAPR accounted under ASC 310-30 [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Balance at beginning of period | 31,056 | 25,785 | 13,481 |
Charge-offs | 282 | 4,352 | |
Provision For Loan And Lease Losses | 24,681 | 15,508 | 16,656 |
Allowance de-recognition from new policy | (9,982) | (9,955) | |
Balance at end of period | 45,755 | 31,056 | 25,785 |
Acquired loans [Member] | Acquired BBVAPR accounted under ASC 310-30 [Member] | Mortgage Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Balance at beginning of period | 2,682 | 1,762 | 5 |
Charge-offs | 14 | 0 | |
Provision For Loan And Lease Losses | 11,497 | 1,105 | 1,757 |
Allowance de-recognition from new policy | (94) | (171) | |
Balance at end of period | 14,085 | 2,682 | 1,762 |
Acquired loans [Member] | Acquired BBVAPR accounted under ASC 310-30 [Member] | Commercial Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Balance at beginning of period | 23,452 | 21,161 | 13,476 |
Charge-offs | 66 | 4,352 | |
Provision For Loan And Lease Losses | 9,758 | 11,710 | 12,037 |
Allowance de-recognition from new policy | (9,519) | (9,353) | |
Balance at end of period | 23,691 | 23,452 | 21,161 |
Acquired loans [Member] | Acquired BBVAPR accounted under ASC 310-30 [Member] | Consumer Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Balance at beginning of period | 0 | 0 | 0 |
Charge-offs | 0 | 0 | |
Provision For Loan And Lease Losses | 18 | 0 | 0 |
Allowance de-recognition from new policy | 0 | 0 | |
Balance at end of period | 18 | 0 | 0 |
Acquired loans [Member] | Acquired BBVAPR accounted under ASC 310-30 [Member] | Auto Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Balance at beginning of period | 4,922 | 2,862 | 0 |
Charge-offs | 202 | 0 | |
Provision For Loan And Lease Losses | 3,408 | 2,693 | 2,862 |
Allowance de-recognition from new policy | (369) | (431) | |
Balance at end of period | $ 7,961 | $ 4,922 | $ 2,862 |
Allowance for Loan and Lease 91
Allowance for Loan and Lease Losses (Gross Loan and Allowance for loan and lease losses) (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Financing Receivable, Individually Evaluated for Impairment | $ 72,285,000 | $ 54,289,000 | ||
Loans and Leases Receivable, Gross, Carrying Amount | 4,204,871,000 | 4,245,364,000 | ||
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 20,000 | 141,000 | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 3,842,000 | 4,159,000 | ||
Financing Receivable, Allowance for Credit Losses | 3,862,000 | 4,300,000 | $ 5,542,000 | $ 4,597,000 |
Financing Receivable, Individually Evaluated for Impairment | 747,000 | 1,150,000 | ||
Financing Receivable, Collectively Evaluated for Impairment | 54,517,000 | 90,300,000 | ||
Loans and Leases Receivable, Gross, Carrying Amount | 55,264,000 | 91,450,000 | ||
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Commercial Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 20,000 | 141,000 | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 22,000 | 28,000 | ||
Financing Receivable, Allowance for Credit Losses | 42,000 | 169,000 | 26,000 | 65,000 |
Financing Receivable, Individually Evaluated for Impairment | 747,000 | 1,150,000 | ||
Financing Receivable, Collectively Evaluated for Impairment | 3,633,000 | 4,412,000 | ||
Loans and Leases Receivable, Gross, Carrying Amount | 4,380,000 | 5,562,000 | ||
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Consumer Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 0 | 0 | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 3,225,000 | 3,028,000 | ||
Financing Receivable, Allowance for Credit Losses | 3,225,000 | 3,028,000 | 3,429,000 | 1,211,000 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ||
Financing Receivable, Collectively Evaluated for Impairment | 28,915,000 | 32,862,000 | ||
Loans and Leases Receivable, Gross, Carrying Amount | 28,915,000 | 32,862,000 | ||
Acquired BBVAPR Accounted for under ASC 310-20 [Member] | Auotomobile Loans Portfolio Segment | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 0 | 0 | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 595,000 | 1,103,000 | ||
Financing Receivable, Allowance for Credit Losses | 595,000 | 1,103,000 | ||
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ||
Financing Receivable, Collectively Evaluated for Impairment | 21,969,000 | 53,026,000 | ||
Loans and Leases Receivable, Gross, Carrying Amount | 21,969,000 | 53,026,000 | ||
Acquired BBVAPR accounted under ASC 310-30 [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 820,272,000 | 951,794,000 | ||
Acquired BBVAPR accounted under ASC 310-30 [Member] | Mortgage Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 532,053,000 | 569,253,000 | ||
Acquired BBVAPR accounted under ASC 310-30 [Member] | Commercial Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 243,092,000 | 292,564,000 | ||
Acquired BBVAPR accounted under ASC 310-30 [Member] | Consumer Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans and Leases Receivable, Gross, Carrying Amount | 1,431,000 | 4,301,000 | ||
Originated Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 19,694,000 | 9,387,000 | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 73,024,000 | 49,913,000 | ||
Financing Receivable, Allowance for Credit Losses | 92,718,000 | 59,300,000 | 112,626,000 | 51,439,000 |
Financing Receivable, Individually Evaluated for Impairment | 156,941,000 | 144,789,000 | ||
Financing Receivable, Collectively Evaluated for Impairment | 3,047,951,000 | 2,901,481,000 | ||
Loans and Leases Receivable, Gross, Carrying Amount | 3,204,892,000 | 3,046,270,000 | ||
Originated Loan [Member] | Mortgage Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 9,121,000 | 7,761,000 | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 11,318,000 | 9,583,000 | ||
Financing Receivable, Allowance for Credit Losses | 20,439,000 | 17,344,000 | 18,352,000 | 19,679,000 |
Financing Receivable, Individually Evaluated for Impairment | 85,403,000 | 91,650,000 | ||
Financing Receivable, Collectively Evaluated for Impairment | 598,204,000 | 629,844,000 | ||
Loans and Leases Receivable, Gross, Carrying Amount | 683,607,000 | 721,494,000 | ||
Originated Loan [Member] | Commercial Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 10,573,000 | 1,626,000 | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 19,685,000 | 7,369,000 | ||
Financing Receivable, Allowance for Credit Losses | 30,258,000 | 8,995,000 | 64,791,000 | 8,432,000 |
Financing Receivable, Individually Evaluated for Impairment | 71,538,000 | 53,139,000 | ||
Financing Receivable, Collectively Evaluated for Impairment | 1,235,723,000 | 1,224,727,000 | ||
Loans and Leases Receivable, Gross, Carrying Amount | 1,307,261,000 | 1,277,866,000 | ||
Originated Loan [Member] | Consumer Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 0 | 0 | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 16,454,000 | 13,067,000 | ||
Financing Receivable, Allowance for Credit Losses | 16,454,000 | 13,067,000 | 11,197,000 | 9,072,000 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ||
Financing Receivable, Collectively Evaluated for Impairment | 330,039,000 | 290,515,000 | ||
Loans and Leases Receivable, Gross, Carrying Amount | 330,039,000 | 290,515,000 | ||
Originated Loan [Member] | Finance Leases Portfolio Segment | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Financing Receivable, Allowance for Credit Losses | 25,567,000 | 19,463,000 | 18,261,000 | 14,255,000 |
Originated Loan [Member] | Auto and Leasing [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 0 | 0 | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 25,567,000 | 19,463,000 | ||
Financing Receivable, Allowance for Credit Losses | 25,567,000 | 19,463,000 | 18,261,000 | |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ||
Financing Receivable, Collectively Evaluated for Impairment | 883,985,000 | 756,395,000 | ||
Loans and Leases Receivable, Gross, Carrying Amount | 883,985,000 | 756,395,000 | ||
Originated Loan [Member] | Unallocated Financing Receivables | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1 | 0 | 0 | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 0 | 431,000 | ||
Financing Receivable, Allowance for Credit Losses | 0 | 431,000 | $ 25,000 | $ 1,000 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ||
Financing Receivable, Collectively Evaluated for Impairment | 0 | 0 | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 0 | $ 0 |
Allowance for Loan and Lease 92
Allowance for Loan and Lease Losses (Allowance for Acquired Eurobank Loan and Lease Losses) (Details) - Eurobank Acquired Loans - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Loan Receivable Type | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance at beginning of period | $ 21,281 | $ 90,178 | $ 64,245 |
Provision for loan and lease losses, net | 6,725 | 2,255 | 38,040 |
Charge-offs | 0 | 134 | 14,610 |
FDIC Indemnification Asset Additional Estimated Losses Recoveries | 0 | 3,391 | 2,503 |
Allowance de-recognition from new policy | (2,832) | (74,409) | |
Balance at end of period | 25,174 | 21,281 | 90,178 |
Loans secured by 1-4 family residential properties, covered [Member] | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance at beginning of period | 11,947 | 22,570 | 5,469 |
Provision for loan and lease losses, net | 5,045 | 1,080 | 17,718 |
Charge-offs | 0 | 0 | 722 |
FDIC Indemnification Asset Additional Estimated Losses Recoveries | 0 | 3,391 | 105 |
Allowance de-recognition from new policy | (1,805) | (15,094) | |
Balance at end of period | 15,187 | 11,947 | 22,570 |
Commercial | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance at beginning of period | 9,328 | 67,365 | 58,511 |
Provision for loan and lease losses, net | 1,680 | 1,183 | 20,043 |
Charge-offs | 0 | 134 | 13,587 |
FDIC Indemnification Asset Additional Estimated Losses Recoveries | 0 | 0 | 2,398 |
Allowance de-recognition from new policy | (1,026) | (59,086) | |
Balance at end of period | 9,982 | 9,328 | 67,365 |
Consumer Loan [Member] | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance at beginning of period | 6 | 243 | 265 |
Provision for loan and lease losses, net | 0 | (8) | 279 |
Charge-offs | 0 | 0 | 301 |
FDIC Indemnification Asset Additional Estimated Losses Recoveries | 0 | 0 | 0 |
Allowance de-recognition from new policy | (1) | (229) | |
Balance at end of period | $ 5 | $ 6 | $ 243 |
FDIC Indemnification Indemnific
FDIC Indemnification Indemnification Asset and True-up Payment Obligation (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
FDIC-Assisted Acquisition [Abstract] | |||
FDIC indemnification asset, expense | $ 1,403 | $ 8,040 | $ (36,398) |
(Repayment to) reimbursement to the FDIC for the termination of shared-loss agreements | $ (10,125) | $ 1,573 | $ 90,697 |
FDIC Indemnification Asset an94
FDIC Indemnification Asset and True-up Payment Obligation (FDIC Indemnification Asset Roll Forward) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
FDIC Indemnification Asset [Roll Forward] | |||
Balance | $ 14,411,000 | $ 22,599,000 | $ 97,378,000 |
Shared-loss agreements reimbursements expected from the FDIC | 0 | (1,573,000) | (55,723,000) |
Increase (decrease) in expected credit losses to be covered under shared-loss agreements, net | 0 | 3,391,000 | 2,503,000 |
FDIC indemnification asset, expense | (1,403,000) | (8,040,000) | 36,398,000 |
Final settlement with the FDIC on commercial loans | 0 | 0 | (1,589,000) |
Net (reimbursements) expenses incurred under shared-loss agreements | 0 | (1,966,000) | 16,428,000 |
Shared-loss termination benefit | (15,814,000) | 0 | 0 |
Balance | 0 | 14,411,000 | 22,599,000 |
True-up payment obligation [Roll Forward] | |||
Balance | 26,786,000 | 24,658,000 | 21,981,000 |
Change in true-up payment obligation expense | 0 | 2,128,000 | 2,677,000 |
Shared-loss termination settlement, liability | (26,786,000) | 0 | 0 |
Balance | $ 0 | $ 26,786,000 | $ 24,658,000 |
FDIC Indemnification Asset an95
FDIC Indemnification Asset and True-up Payment Obligation (Fair value and the undiscounted amount of the true-up payment obligation) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
FDIC-Assisted Acquisition [Abstract] | ||
Business Combination Contingent Consideration Liability | $ 0 | $ 26,786 |
Business Combination Contingent Consideration Potential Cash Payment | $ 0 | $ 33,635 |
FDIC Indemnification Asset an96
FDIC Indemnification Asset and True-up Payment Obligation (FDIC Indemnification Expense) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Fdic Shared Loss Expense [Abstract] | |||
FDIC indemnification asset, expense | $ (1,403) | $ (8,040) | $ 36,398 |
Change in true-up payment obligation expense | 0 | (2,128) | (2,677) |
Reimbursement to FDIC for recoveries | 0 | (3,413) | (2,144) |
Final settlement with the FDIC on commercial loans | 0 | 0 | (1,589) |
Shared-loss termination benefit | (15,814) | 0 | 0 |
FDIC shared-loss expense, net | $ 1,403 | $ (13,581) | $ (42,808) |
Foreclosed Real Estate (Rollfor
Foreclosed Real Estate (Rollforward) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Other Real Estate Owned Rollforward [Line Items] | |||
Foreclosed real estate beginning balance | $ 47,520 | $ 58,176 | $ 95,750 |
Other Real Estate Owned Write Downs | (6,560) | (13,003) | (24,290) |
Other Real Estate Owned Additions | 23,101 | 21,633 | 36,565 |
Other Real Estate Owned Sales | (19,598) | (19,286) | (46,346) |
Other Real Estate Owned Other Adjustments | (289) | 0 | (3,503) |
Foreclosed real estate ending balance | 44,174 | 47,520 | 58,176 |
Originated Loans [Member] | |||
Other Real Estate Owned Rollforward [Line Items] | |||
Foreclosed real estate beginning balance | 12,390 | 10,324 | 12,343 |
Other Real Estate Owned Write Downs | (1,913) | (1,966) | (2,831) |
Other Real Estate Owned Additions | 10,565 | 10,170 | 9,817 |
Other Real Estate Owned Sales | (6,615) | (6,138) | (5,933) |
Other Real Estate Owned Other Adjustments | (144) | 0 | (3,072) |
Foreclosed real estate ending balance | 14,283 | 12,390 | 10,324 |
Acquired BBVAPR loans [Member] | |||
Other Real Estate Owned Rollforward [Line Items] | |||
Foreclosed real estate beginning balance | 21,379 | 26,757 | 35,804 |
Other Real Estate Owned Write Downs | (2,850) | (6,124) | (7,668) |
Other Real Estate Owned Additions | 9,416 | 7,872 | 8,213 |
Other Real Estate Owned Sales | (9,453) | (7,126) | (9,338) |
Other Real Estate Owned Other Adjustments | (145) | 0 | (254) |
Foreclosed real estate ending balance | 18,347 | 21,379 | 26,757 |
Eurobank [Member] | |||
Other Real Estate Owned Rollforward [Line Items] | |||
Foreclosed real estate beginning balance | 13,751 | 21,095 | 47,603 |
Other Real Estate Owned Write Downs | (1,797) | (4,913) | (13,791) |
Other Real Estate Owned Additions | 3,120 | 3,591 | 18,535 |
Other Real Estate Owned Sales | (3,530) | (6,022) | (31,075) |
Other Real Estate Owned Other Adjustments | 0 | 0 | (177) |
Foreclosed real estate ending balance | $ 11,544 | $ 13,751 | $ 21,095 |
Premises and equipment (Narrati
Premises and equipment (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Property Plant And Equipment Abstract | |||
Depreciation | $ 9 | $ 9.4 | $ 11.1 |
Premises and Equipment (Details
Premises and Equipment (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Property Plant And Equipment Line Items | ||
Property Plant And Equipment Gross | $ 135,587 | $ 130,582 |
Accumulated depreciation and amortization | (67,727) | (60,175) |
Total Premises and Equipment, net | 67,860 | 70,407 |
Land And Land Improvements | ||
Property Plant And Equipment Line Items | ||
Property Plant And Equipment Gross | $ 5,638 | 5,638 |
Land And Land Improvements | Minimum [Member] | ||
Property Plant And Equipment Line Items | ||
Property Plant And Equipment Useful Life | 0 years | |
Land And Land Improvements | Maximum [Member] | ||
Property Plant And Equipment Line Items | ||
Property Plant And Equipment Useful Life | 0 years | |
Building And Building Improvements | ||
Property Plant And Equipment Line Items | ||
Property Plant And Equipment Gross | $ 64,277 | 64,048 |
Building And Building Improvements | Minimum [Member] | ||
Property Plant And Equipment Line Items | ||
Property Plant And Equipment Useful Life | 0 years | |
Building And Building Improvements | Maximum [Member] | ||
Property Plant And Equipment Line Items | ||
Property Plant And Equipment Useful Life | 40 years | |
Leasehold Improvements | ||
Property Plant And Equipment Line Items | ||
Property Plant And Equipment Gross | $ 20,647 | 20,414 |
Leasehold Improvements | Minimum [Member] | ||
Property Plant And Equipment Line Items | ||
Property Plant And Equipment Useful Life | 5 years | |
Leasehold Improvements | Maximum [Member] | ||
Property Plant And Equipment Line Items | ||
Property Plant And Equipment Useful Life | 10 years | |
Furniture And Fixtures | ||
Property Plant And Equipment Line Items | ||
Property Plant And Equipment Gross | $ 16,242 | 14,479 |
Furniture And Fixtures | Minimum [Member] | ||
Property Plant And Equipment Line Items | ||
Property Plant And Equipment Useful Life | 3 years | |
Furniture And Fixtures | Maximum [Member] | ||
Property Plant And Equipment Line Items | ||
Property Plant And Equipment Useful Life | 7 years | |
Software And Software Development Costs | ||
Property Plant And Equipment Line Items | ||
Property Plant And Equipment Gross | $ 28,783 | $ 26,003 |
Software And Software Development Costs | Minimum [Member] | ||
Property Plant And Equipment Line Items | ||
Property Plant And Equipment Useful Life | 3 years | |
Software And Software Development Costs | Maximum [Member] | ||
Property Plant And Equipment Line Items | ||
Property Plant And Equipment Useful Life | 7 years |
Servicing Assets (Narratives) (
Servicing Assets (Narratives) (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Servicing Assets At Fair Value Line Items | ||||
Servicing Asset at Fair Value, Amount | $ 9,821,000 | $ 9,858,000 | $ 7,455,000 | $ 13,992,000 |
Servicing fee | 3,900,000 | 3,700,000 | 4,800,000 | |
Mortgage Servicing Rights Sale Price | 7,000,000 | |||
Proceeds from the sale of Mortgage Servicing Rights | $ 0 | $ 0 | 5,927,000 | |
Loss on MSR Held-for-Sale | $ 2,700,000 |
Servicing Assets (Changes in se
Servicing Assets (Changes in serving rights at fair value) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Servicing Asset At Fair Value Amount Roll Forward | |||
Fair value | $ 9,858 | $ 7,455 | $ 13,992 |
Servicing from mortgage securitizations or asset transfers | 1,658 | 2,616 | 2,620 |
Changes due to payments on loans | (590) | (489) | (1,017) |
Changes in fair value due to sales price of mortgage servicing rights held-for-sale | 0 | 0 | (2,939) |
Changes in fair value due to changes in valuation model inputs or assumptions | (1,105) | 276 | 726 |
Fair value | $ 9,821 | $ 9,858 | $ 7,455 |
Servicing Assets (Key Economic
Servicing Assets (Key Economic Assumptions) (Details) - Mortgage related servicing assets [Member] | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Minimum [Member] | |||
Servicing Assets At Fair Value Line Items | |||
Constant prepayment rate | 3.94% | 4.24% | 5.23% |
Servicing Assets And Servicing Liabilities At Fair Value Assumptions Used To Estimate Fair Value Discount Rate | 10.00% | 10.00% | 10.00% |
Maximum [Member] | |||
Servicing Assets At Fair Value Line Items | |||
Constant prepayment rate | 8.49% | 9.14% | 15.24% |
Servicing Assets And Servicing Liabilities At Fair Value Assumptions Used To Estimate Fair Value Discount Rate | 12.00% | 12.00% | 12.00% |
Servicing Assets (Sensitivity o
Servicing Assets (Sensitivity of current fair value of servicing assets) (Details) $ in Thousands | Dec. 31, 2017USD ($) |
Servicing Assets At Fair Value Line Items | |
Servicing Asset | $ 9,821 |
Constant Prepayment Rate - Decrease in fair value due to 10% adverse change | (196) |
Constant Prepayment Rate - Decrease in fair value due to 20% adverse change | (384) |
Discount Rate - Decrease in fair value due to 10% adverse change | (436) |
Discount Rate - Decrease in fair value due to 20% adverse change | $ (838) |
Derivative Activities (Narrativ
Derivative Activities (Narratives) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Unrealized Gain Loss On Derivatives | $ 510 | $ 1,000 |
Derivative Assets | 771 | 1,330 |
Derivative Liabilities | 1,281 | 2,437 |
Derivative, Notional Amount | 152,600 | 136,100 |
Interest Rate Cap [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Derivative Assets | 153 | 143 |
Derivative Liabilities | 153 | 139 |
Derivative, Notional Amount | 152,600 | 136,100 |
Designated as Hedging Instrument [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Derivative Liabilities | 510 | 1,004 |
Not Designated as Hedging Instrument [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Derivative Assets | 618 | 1,187 |
Derivative Liabilities | 618 | 1,187 |
Other derivative | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Derivative Liabilities | $ 0 | $ 107 |
Derivative Activities (Derivati
Derivative Activities (Derivative Assets and Liabilities) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Derivative Assets (Liabilities) at Fair Value | ||
Derivative Assets | $ 771 | $ 1,330 |
Derivative Liabilities | 1,281 | 2,437 |
Designated as Hedging Instrument [Member] | ||
Derivative Assets (Liabilities) at Fair Value | ||
Derivative Liabilities | 510 | 1,004 |
Not Designated as Hedging Instrument [Member] | ||
Derivative Assets (Liabilities) at Fair Value | ||
Derivative Assets | 618 | 1,187 |
Derivative Liabilities | 618 | 1,187 |
Interest Rate Cap [Member] | ||
Derivative Assets (Liabilities) at Fair Value | ||
Derivative Assets | 153 | 143 |
Derivative Liabilities | 153 | 139 |
Other derivative | ||
Derivative Assets (Liabilities) at Fair Value | ||
Derivative Liabilities | $ 0 | $ 107 |
Derivative Activities (Interest
Derivative Activities (Interest rate swap and their term) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Derivative [Line Items] | ||
Notional Amount | $ 152,600 | $ 136,100 |
Interest rate swap designated as cash flow hedges - 1 Month LIBOR | ||
Derivative [Line Items] | ||
Notional Amount | 35,113 | |
Interest rate swap designated as cash flow hedges - 1 Month LIBOR | Rate 2.4210% [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 35,113 | |
Fixed rate | 0.02421% | |
Trade Date | Jul. 3, 2013 | |
Settlement Date | Jul. 3, 2013 | |
Maturity Date | Aug. 1, 2023 |
Derivative Activities (Inter107
Derivative Activities (Interest rate swap not designated as hedging instruments and their term) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Derivative [Line Items] | ||
Notional derivative not designated as an hedging instrument. | $ 152,600 | $ 136,100 |
Derivatives Offered to Clients - 1 Month LIBOR [Member] | Rate 5.51% [Member] | ||
Derivative [Line Items] | ||
Notional derivative not designated as an hedging instrument. | $ 12,500 | |
Fixed rate | 5.505% | |
Settlement Date | Apr. 11, 2009 | |
Maturity Date | Apr. 11, 2019 | |
Mirror Image Derivatives - 1 Month LIBOR [Member] | Rate 5.51% [Member] | ||
Derivative [Line Items] | ||
Notional derivative not designated as an hedging instrument. | $ 12,500 | |
Fixed rate | 5.505% | |
Settlement Date | Apr. 11, 2009 | |
Maturity Date | Apr. 11, 2019 |
Accrued Interest and Other Asse
Accrued Interest and Other Assets (Narratives) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Other assets [Line Items] | ||
Other prepaid expenses | $ 9,200 | $ 16,501 |
Prepaid Taxes | 5,700 | 12,500 |
Core deposit intangible | 3,300 | 4,300 |
Other repossessed assets | 3,548 | 3,224 |
Repossessed auto | 3,400 | 3,000 |
Mortgage tax credits | 4,277 | 6,277 |
Accrued interest receivable from moratorium | 39,700 | |
Customer Relationships Intangible [Member] | ||
Other assets [Line Items] | ||
Core deposit intangible | $ 1,400 | $ 1,900 |
Accrued Interest Receivable 109
Accrued Interest Receivable and Other Assets (Accrued Interest)(Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Accounts Receivable Net Abstract | ||
Accrued Interest Receivable On Non Acquired Loans | $ 46,936 | $ 16,706 |
Accrued Investment Income Receivable | 3,033 | 3,521 |
Total Interest Receivable | $ 49,969 | $ 20,227 |
Accrued Interest and Other A110
Accrued Interest and Other Assets (Other assets) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Other asset | ||
Other prepaid expenses | $ 9,200 | $ 16,501 |
Other repossessed assets | 3,548 | 3,224 |
Core deposit intangible and customer relationship intangibles | 4,687 | 6,160 |
Mortgage tax credits | 4,277 | 6,277 |
Investment in Statutory Trust | 1,083 | 1,083 |
Accounts receivable and other assets | 41,898 | 47,120 |
Other assets | $ 64,693 | $ 80,365 |
Deposits and Related Interes111
Deposits and Related Interest (Narratives) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Deposits [Abstract] | ||
Weighted Average Rate Domestic Deposit | 0.65% | 0.62% |
Puerto Rico Cash & Money Market Fund Deposits | $ 15,300 | |
Puerto Rico Cash & Money Market Fund Deposits Weighted Average Rate | 0.77% | |
Time Deposits, $250,000 or More | $ 359,600 | $ 344,000 |
Public Fund Time Deposits, $250,000 or more | $ 3,500 | $ 2,100 |
Public Fund Time Deposits Weighted Average Rate, $250,000 or more | 0.28% | 0.50% |
Public funds deposit | $ 153,100 | $ 170,700 |
Public Fund Collateral Investments | 173,000 | 209,200 |
Accrued Interest, Time Deposits | 1,900 | |
Bank Overdrafts | 2,200 | 575 |
Brokered Certificates of Deposits | 471,600 | 508,400 |
Brokered Money Market Deposit | $ 46,900 | $ 68,000 |
Deposits and Related Interes112
Deposits and Related Interest (Deposits by Components) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Deposits, by Component, Alternative [Abstract] | ||
Noninterest-bearing demand deposit | $ 969,525 | $ 848,502 |
Interest-bearing saving and demand deposits | 2,274,116 | 2,219,452 |
Individual Retirement Account | 231,376 | 265,754 |
Retail certificates of deposists | 595,983 | 563,965 |
Institutional certificates of deposits | 209,951 | 190,419 |
Total Core Deposits | 4,280,951 | 4,088,092 |
Brokered Deposists | 518,531 | 576,395 |
Deposits, Total | $ 4,799,482 | $ 4,664,487 |
Deposits and Related Interes113
Deposits and Related Interest (Interest expense) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Interest Expense Domestic Deposit Liabilities [Abstract] | |||
Demand and saving deposits | $ 11,426 | $ 12,004 | $ 12,414 |
Certificates of Deposits | 18,872 | 17,249 | 14,620 |
Total | $ 30,298 | $ 29,253 | $ 27,034 |
Deposits and Related Interes114
Deposits and Related Interest (Maturities of Time Deposits) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Maturities of Time Deposits [Abstract] | ||
Time Deposit Maturities Less Than Three Month | $ 316,382 | $ 277,621 |
Time Deposit Maturities Three To Twelve Month | 508,285 | 534,548 |
Total Time deposits | 824,667 | 812,169 |
Time Deposit Maturities, Year Two | 470,670 | 488,440 |
Time Deposit Maturities, Year Three | 137,016 | 154,545 |
Time Deposit Maturities, Year Four | 36,125 | 29,701 |
Time Deposit Maturities, Year Five | 38,623 | 41,949 |
Certificates of deposit | $ 1,507,101 | $ 1,526,804 |
Borrowings (Narrative) (Details
Borrowings (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2017 | Mar. 31, 2017 | Mar. 31, 2016 | Sep. 30, 2003 | |
Debt Instrument [Line Items] | |||||||
Extinguished and Matured Debt | $ 80,000 | $ 232,000 | $ 268,000 | ||||
Total Of Debt Matured and ExtinguishedUnder Repurchased Agreement | 172,500 | $ 500,000 | |||||
Other borrowings | 153 | $ 61 | |||||
Subordinated Debt | $ 36,083 | $ 36,083 | |||||
Trust redeemable preferred securities issued | $ 35,000 | ||||||
Debt Instrument Interest Rate Terms | 3-month LIBOR plus 295 basis points | ||||||
Debt Instrument Basis Spread On Variable Rate | 4.55% | 3.94% | |||||
Gains Losses On Extinguishment Of Debt | $ (80) | $ (12,000) | $ 0 | ||||
Repayments Of Subordinated Debt | 67,000 | ||||||
Due Date 6 2019 Member [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Extinguished and Matured Debt | $ 25,000 | ||||||
Due Date 12 2019 Member [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Extinguished and Matured Debt | $ 75,000 | ||||||
Federal Home Loan Bank Advances [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Loans pledged as collateral to secure FHLB advances | 1,300,000 | 1,400,000 | |||||
Additional Borrowing Capacity | $ 920,000 | $ 1,200,000 | |||||
Weighted average period remaining maturity of FHLB advances | 3.2 months | 10.6 months | |||||
Interest Payable | $ 322 | ||||||
Minimum amount of qualifying collateral | 110.00% | ||||||
Repurchase agreement | |||||||
Debt Instrument [Line Items] | |||||||
Interest Payable | $ 369 | $ 1,500 |
Borrowings (Securities Sold Und
Borrowings (Securities Sold Under Agreement to Repurchase by Counterparties) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Debt Instrument [Line Items] | ||
Borrowings | $ 328,748 | $ 795,354 |
Securities Sold under Agreements to Repurchase [Member] | ||
Debt Instrument [Line Items] | ||
Borrowings | 192,500 | 652,229 |
Fair Value of Underlying Collateral | 205,483 | 700,498 |
Securities Sold under Agreements to Repurchase [Member] | PR Money Market Fund | ||
Debt Instrument [Line Items] | ||
Borrowings | 0 | 70,010 |
Fair Value of Underlying Collateral | 0 | 74,538 |
Securities Sold under Agreements to Repurchase [Member] | JP Morgan Chase Bank [Member] | ||
Debt Instrument [Line Items] | ||
Borrowings | 82,500 | 350,219 |
Fair Value of Underlying Collateral | 88,974 | 376,674 |
Securities Sold under Agreements to Repurchase [Member] | FHLB [Member] | ||
Debt Instrument [Line Items] | ||
Borrowings | 110,000 | 0 |
Fair Value of Underlying Collateral | 116,509 | 0 |
Securities Sold under Agreements to Repurchase [Member] | Credit Suisse LLC [Member] | ||
Debt Instrument [Line Items] | ||
Borrowings | 0 | 232,000 |
Fair Value of Underlying Collateral | 0 | 249,286 |
Securities Sold under Agreements to Repurchase [Member] | Goldman Sachs [Member] | ||
Debt Instrument [Line Items] | ||
Borrowings | 0 | 0 |
Fair Value of Underlying Collateral | $ 0 | $ 0 |
Borrowings (Repurchase Agreemen
Borrowings (Repurchase Agreements) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Debt Instrument [Line Items] | ||
Borrowing Balance | $ 328,748 | $ 795,354 |
Securities Sold under Agreements to Repurchase [Member] | ||
Debt Instrument [Line Items] | ||
Borrowing Balance | $ 192,500 | $ 652,229 |
Weighted Average Coupon | 1.631% | |
Securities Sold under Agreements to Repurchase [Member] | Due Date: 04 29 2018 [Member] | ||
Debt Instrument [Line Items] | ||
Borrowing Balance | $ 82,500 | |
Weighted Average Coupon | 1.42% | |
Settlement Date | Dec. 30, 2015 | |
Investment Repurchase Agreement, Repurchase Date | Apr. 29, 2018 | |
Securities Sold under Agreements to Repurchase [Member] | Due date: 09 03 2019 [Member] | ||
Debt Instrument [Line Items] | ||
Borrowing Balance | $ 50,000 | |
Weighted Average Coupon | 1.72% | |
Settlement Date | Mar. 2, 2017 | |
Investment Repurchase Agreement, Repurchase Date | Sep. 3, 2019 | |
Securities Sold under Agreements to Repurchase [Member] | Due Date: 3/2/2020 [Member] | ||
Debt Instrument [Line Items] | ||
Borrowing Balance | $ 60,000 | |
Weighted Average Coupon | 1.85% | |
Settlement Date | Mar. 2, 2017 | |
Investment Repurchase Agreement, Repurchase Date | Mar. 2, 2020 |
Borrowings (Repurchase Transact
Borrowings (Repurchase Transaction Liability and Market Value of its Underlying Collateral) (Details) - Securities Sold under Agreements to Repurchase [Member] - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Assets Sold Under Agreements To Repurchase Line Items | ||
Assets Sold Under Agreements To Repurchase Repurchase Liability | $ 192,500 | $ 652,229 |
Assets Sold Under Agreements To Repurchase Interest Rate | 1.63% | 2.47% |
Market value of underlying collateral of a repurchase agreement | $ 205,483 | $ 700,498 |
FNMA and FHLMC [Member] | ||
Assets Sold Under Agreements To Repurchase Line Items | ||
Market value of underlying collateral of a repurchase agreement | 205,483 | 575,915 |
Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | ||
Assets Sold Under Agreements To Repurchase Line Items | ||
Market value of underlying collateral of a repurchase agreement | 0 | 75,629 |
US Treasury Securities [Member] | ||
Assets Sold Under Agreements To Repurchase Line Items | ||
Market value of underlying collateral of a repurchase agreement | 0 | 48,954 |
Mturity less than 90 Days Member | ||
Assets Sold Under Agreements To Repurchase Line Items | ||
Assets Sold Under Agreements To Repurchase Repurchase Liability | $ 349,729 | |
Assets Sold Under Agreements To Repurchase Interest Rate | 3.35% | |
Market value of underlying collateral of a repurchase agreement | $ 372,778 | |
Mturity less than 90 Days Member | FNMA and FHLMC [Member] | ||
Assets Sold Under Agreements To Repurchase Line Items | ||
Assets Sold Under Agreements To Repurchase Repurchase Liability | 248,288 | |
Mturity less than 90 Days Member | Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | ||
Assets Sold Under Agreements To Repurchase Line Items | ||
Assets Sold Under Agreements To Repurchase Repurchase Liability | 75,536 | |
Mturity less than 90 Days Member | US Treasury Securities [Member] | ||
Assets Sold Under Agreements To Repurchase Line Items | ||
Assets Sold Under Agreements To Repurchase Repurchase Liability | 48,954 | |
Maturity over 90 days | ||
Assets Sold Under Agreements To Repurchase Line Items | ||
Assets Sold Under Agreements To Repurchase Repurchase Liability | $ 192,500 | $ 302,500 |
Assets Sold Under Agreements To Repurchase Interest Rate | 1.63% | 1.44% |
Market value of underlying collateral of a repurchase agreement | $ 205,483 | $ 327,720 |
Maturity over 90 days | FNMA and FHLMC [Member] | ||
Assets Sold Under Agreements To Repurchase Line Items | ||
Assets Sold Under Agreements To Repurchase Repurchase Liability | 205,483 | 327,627 |
Maturity over 90 days | Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | ||
Assets Sold Under Agreements To Repurchase Line Items | ||
Assets Sold Under Agreements To Repurchase Repurchase Liability | 0 | 93 |
Maturity over 90 days | US Treasury Securities [Member] | ||
Assets Sold Under Agreements To Repurchase Line Items | ||
Assets Sold Under Agreements To Repurchase Repurchase Liability | $ 0 | $ 0 |
Borrowings (Other Significant D
Borrowings (Other Significant Details) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
DisclosureOfRepurchaseAgreementsAbstract | ||
Average Daily Aggregate Balance Outstanding | $ 393,133 | $ 663,845 |
Maximum Outstanding Balance At Any Month End | $ 606,210 | $ 902,500 |
Repurchase agreement weighted average interest rate during the year | 1.80% | 2.83% |
Weighted average interest rate at year end | 1.63% | 2.47% |
Borrowings (Advances from the F
Borrowings (Advances from the Federal Home Loan Bank) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 328,748 | $ 795,354 |
Federal Home Loan Bank Advances [Member] | ||
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 99,321 | |
FHLB, Weighted Average Interest Rate | 1.98% | |
Federal Home Loan Bank Advances [Member] | January 16, 2018 [Member] | Thirty Million [Member] | ||
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 30,000 | |
FHLB, Weighted Average Interest Rate | 2.19% | |
Settlement Date | Jan. 16, 2013 | |
Maturity Date | Jan. 16, 2018 | |
Federal Home Loan Bank Advances [Member] | January 16, 2018 [Member] | Twenty Five Millions [Member] | ||
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 25,000 | |
FHLB, Weighted Average Interest Rate | 2.18% | |
Settlement Date | Jan. 16, 2013 | |
Maturity Date | Jan. 16, 2018 | |
Federal Home Loan Bank Advances [Member] | January 16, 2018 [Member] | Fifty Five Millions [Member] | ||
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 90,113 | |
Federal Home Loan Bank Advances [Member] | July 20, 2020 [Member] | Ten Million [Member] | ||
Advances From Federal Home Loan Banks [Line Items] | ||
Borrowings | $ 9,208 | |
FHLB, Weighted Average Interest Rate | 2.59% | |
Settlement Date | Jul. 19, 2013 | |
Maturity Date | Jul. 20, 2020 |
Offsetting Arrangements (Assets
Offsetting Arrangements (Assets Offsetting) (Details) - Derivative - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Offsetting Assets [Line Items] | ||
Gross Amount of Recognized Assets | $ 771 | $ 1,330 |
Gross amounts Offset in the Statement of Financial Condition | 0 | 0 |
Net Amount of Assets in Statement of Financial Condition | 771 | 1,330 |
Financial Instruments | 2,010 | 2,003 |
Cash Collateral Received | 0 | 0 |
Net Amount | $ (1,239) | $ (673) |
Offsetting Arrangement (Liabili
Offsetting Arrangement (Liabilities Offsetting) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Offsetting Liabilities [Line Items] | ||
Gross amount of Recognized Liabilities | $ 193,781 | $ 654,666 |
Gross amount Offset in the Statement of Financial Condition | 0 | 0 |
Net Amount of Liabilities Presented in the Statement of Financial Condition | 193,781 | 654,666 |
Financial Instruments | 205,483 | 700,498 |
Cash Collateral Provided | 1,980 | 1,980 |
Net Amount | (13,682) | (47,812) |
Derivative Financial Instruments, Liabilities [Member] | ||
Offsetting Liabilities [Line Items] | ||
Gross amount of Recognized Liabilities | 1,281 | 2,437 |
Gross amount Offset in the Statement of Financial Condition | 0 | 0 |
Net Amount of Liabilities Presented in the Statement of Financial Condition | 1,281 | 2,437 |
Financial Instruments | 0 | 0 |
Cash Collateral Provided | 1,980 | 1,980 |
Net Amount | (699) | 457 |
Securities Loaned or Sold under Agreements to Repurchase | ||
Offsetting Liabilities [Line Items] | ||
Gross amount of Recognized Liabilities | 192,500 | 652,229 |
Gross amount Offset in the Statement of Financial Condition | 0 | 0 |
Net Amount of Liabilities Presented in the Statement of Financial Condition | 192,500 | 652,229 |
Financial Instruments | 205,483 | 700,498 |
Cash Collateral Provided | 0 | 0 |
Net Amount | $ (12,983) | $ (48,269) |
Employee Benefit Plan (Narrativ
Employee Benefit Plan (Narrative) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Compensation And Retirement Disclosure Abstract | |||
Defined Contribution Plan Maximum Annual Contributions Per Employee Amount | $ 18,000 | ||
Defined Contribution Plan Cost Recognized | $ 835,000 | $ 792,000 | $ 808,000 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Loans and Leases Receivable, Related Parties [Roll Forward] | |||
Balance | $ 29,020 | $ 31,475 | $ 27,011 |
New loans | 2,875 | 2,329 | 13,581 |
Repayments and sales | (3,757) | (4,784) | (9,117) |
Balance | $ 28,138 | $ 29,020 | $ 31,475 |
Income Taxes (Narratives) (Deta
Income Taxes (Narratives) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Taxes [Abstract] | |||
Statutary tax rate | 39.00% | 39.00% | (39.00%) |
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | $ 1,300 | $ 2,000 | |
Interest and Penalties Released Related to Unrecognized Tax Benefits | (775) | (135) | $ (385) |
Deferred Tax Assets, Net | 127,421 | 124,200 | |
OtherComprehensiveIncomeLossTax | (564) | (983) | |
Income Tax Expense (Benefit) | 15,443 | 25,994 | (17,554) |
Exempt Income | 10,000 | 10,000 | 17,600 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 97 | (229) | |
Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations | $ 877 | $ 1,363 | $ 0 |
Effective tax rate | 22.66% | 30.51% | (87.52%) |
International Banking Entity [Member] | |||
Exempt Income | $ 9,600 | $ 10,300 | $ 6,300 |
Income Taxes (Components of inc
Income Taxes (Components of income tax expense (benefit)) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract | |||
Current Income Tax Expense Benefit | $ 19,101 | $ 2,768 | $ 19,775 |
Deferred Income Tax Expense (Benefit) | (3,658) | 23,226 | (37,329) |
Income Tax Expense (Benefit) | $ 15,443 | $ 25,994 | $ (17,554) |
Income taxes (Effective Income
Income taxes (Effective Income Tax Rate Reconciliation) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
IncomeTaxExpenseBenefitContinuingOperationsIncomeTaxReconciliationAbstract | |||
Income Tax Reconciliation State And Local Income Taxes | $ 26,555 | $ 33,220 | $ (7,823) |
Income Tax Reconciliation Tax Exempt Income | (9,506) | (11,178) | (8,625) |
Income Tax Reconciliation Disallowed net operating loss carryover | 281 | 1,406 | 556 |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance | (305) | (9) | (2,219) |
Interest and Penalties Released Related to Unrecognized Tax Benefits | (775) | (135) | (385) |
Income Tax Loan Basis Change Effect | 0 | 0 | 0 |
Income Tax Reconciliation Capital (gain) loss at preferential rate | (279) | 2,394 | 283 |
Income Tax Reconciliation Other Adjustments | (528) | 296 | 659 |
Total Income Tax Expense (Benefit) | $ 15,443 | $ 25,994 | $ (17,554) |
EffectiveIncomeTaxRateContinuingOperationsTaxRateReconciliationAbstract | |||
Statutary tax rate | 39.00% | 39.00% | (39.00%) |
Tax effect of exempt income, net | (13.96%) | (13.12%) | (43.00%) |
Effective Income Tax Rate Disallowed Net Operating Loss Carryover | (0.41%) | (1.65%) | (2.77%) |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance | (0.45%) | (0.01%) | (11.06%) |
Effective Income Tax Rate Reconciliation Tax Contingencies | (1.14%) | (0.16%) | (1.92%) |
Effective Income Tax Rate Loan Basis Change Effect | 0.00% | 0.00% | 0.00% |
Effective Income Tax Rate Capital Loss (Gain) at Preferential Rate | (0.41%) | 2.81% | 1.41% |
Other items, net | (0.79%) | 0.34% | 3.28% |
Total Income Tax Expense (Benefit) | 22.66% | 30.51% | (87.52%) |
Income Tax (Reconciliation of u
Income Tax (Reconciliation of unrecognized tax benefits) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Reconciliation Of Unrecognized Tax Benefits Excluding Amounts Pertaining To Examined Tax Returns Roll Forward | |||
Balance at beginning of year | $ 2,040 | $ 2,175 | $ 2,560 |
Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions | 97 | 229 | 175 |
Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities | 0 | 999 | 560 |
Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations | 877 | 1,363 | 0 |
Balance at end of year | $ 1,260 | $ 2,040 | $ 2,175 |
Income Taxes (Components of Def
Income Taxes (Components of Deferred Tax Assets) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
ComponentsOfDeferredTaxAssetsAbstract | ||
Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts | $ 97,682 | $ 84,959 |
Deferred Tax Assets Acquired Loans And Other Real Estate Valuation Adjustments | 10,457 | 11,120 |
Deferred Tax Assets Operating Loss And Capital Net Carryforwards | 5,169 | 9,686 |
Deferred Tax Assets Tax Credit Carryforwards Alternative Minimum Tax | 15,672 | 15,799 |
Deferred tax asset acquired portfolio | 35,293 | 36,237 |
Deferred Tax Assets Indemnification Asset | 0 | 5,344 |
Other deferred allowance tax assets | 858 | 1,547 |
Deferred Tax Assets Other | 5,304 | 5,116 |
Deferred Tax Assets Gross | 170,435 | 169,808 |
Components Of Deferred Tax Liabilities Abstract | ||
Deferred Tax Liability Fdic Assisted Acquisition | (24,564) | (25,862) |
Deferred tax liabilities customer deposit and customer relationship | (1,828) | (2,402) |
Deferred tax liabilities building valuation adjusment | (9,069) | (9,522) |
Deferred Tax Liabilities Mortgage Servicing Rights | (3,830) | (3,844) |
Deferred Tax Liabilities Other | (588) | (845) |
Deferred Tax Liability Gross | (39,879) | (42,475) |
Deferred Tax Assets Valuation Allowance | (3,135) | (3,133) |
Deferred Tax Assets, Net | $ 127,421 | $ 124,200 |
Regulatory Capital Requireme130
Regulatory Capital Requirements (Group's and the Bank's actual capital amounts and ratios) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Group [Member] | ||
Capital [Abstract] | ||
Actual - Total capital | $ 899,258 | $ 876,657 |
Actual - Tier 1 capital | 842,133 | 819,662 |
Actual -Common equity tier 1 capital | 644,804 | 627,733 |
Actual - Tier 1 leverage capital | 842,133 | 819,662 |
Minimum Capital - Total Capital | 353,653 | 357,404 |
Minimum capital - Tier 1 capital | 265,240 | 268,053 |
Minimum capital - Common equity tier 1 capital | 198,930 | 201,040 |
Minimum capital - Tier 1 leverage capital | 242,057 | 252,344 |
Minimum to be well capitalized - Total Capital | 442,067 | 446,756 |
Minimum to be well capitalized - Tier 1 capital | 353,653 | 357,404 |
Minimum to be well capitalized - Common equity tier 1 capital | 287,343 | 290,391 |
Minimum to be well capitalized - Tier 1 leverage | $ 302,571 | $ 315,430 |
Risk Based Ratios [Abstract] | ||
Capital to Risk Weighted Assets | 20.34% | 19.62% |
Tier One Risk Based Capital to Risk Weighted Assets | 19.05% | 18.35% |
Common Equity Tier OneTo Risk Weighted Assets | 14.59% | 14.05% |
Tier One Leverage Capital to Average Assets | 13.92% | 12.99% |
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | 8.00% |
Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets | 6.00% | 6.00% |
Common Equity Tier One Required For Capital Adequacy To Risk Weighted Assets | 4.50% | 4.50% |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | 4.00% |
Capital Required to be Well Capitalized to Risk Weighted Assets | 10.00% | 10.00% |
Tier One Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets | 8.00% | 8.00% |
Tier One Risk Common Equity Tier One Required To Be Well Capitalized To Risk Weighted Assets | 6.50% | 6.50% |
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 5.00% | 5.00% |
Bank [Member] | ||
Capital [Abstract] | ||
Actual - Total capital | $ 879,648 | $ 857,259 |
Actual - Tier 1 capital | 822,776 | 800,544 |
Actual -Common equity tier 1 capital | 822,776 | 800,544 |
Actual - Tier 1 leverage capital | 822,776 | 800,544 |
Minimum Capital - Total Capital | 353,265 | 356,596 |
Minimum capital - Tier 1 capital | 264,949 | 267,447 |
Minimum capital - Common equity tier 1 capital | 198,712 | 200,585 |
Minimum capital - Tier 1 leverage capital | 241,417 | 251,200 |
Minimum to be well capitalized - Total Capital | 441,581 | 445,745 |
Minimum to be well capitalized - Tier 1 capital | 353,265 | 356,596 |
Minimum to be well capitalized - Common equity tier 1 capital | 287,028 | 289,734 |
Minimum to be well capitalized - Tier 1 leverage | $ 301,771 | $ 314,000 |
Risk Based Ratios [Abstract] | ||
Capital to Risk Weighted Assets | 19.92% | 19.23% |
Tier One Risk Based Capital to Risk Weighted Assets | 18.63% | 17.96% |
Common Equity Tier OneTo Risk Weighted Assets | 18.63% | 17.96% |
Tier One Leverage Capital to Average Assets | 13.63% | 12.75% |
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | 8.00% |
Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets | 6.00% | 6.00% |
Common Equity Tier One Required For Capital Adequacy To Risk Weighted Assets | 4.50% | 4.50% |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | 4.00% |
Capital Required to be Well Capitalized to Risk Weighted Assets | 10.00% | 10.00% |
Tier One Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets | 8.00% | 8.00% |
Tier One Risk Common Equity Tier One Required To Be Well Capitalized To Risk Weighted Assets | 6.50% | 6.50% |
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 5.00% | 5.00% |
Equity-based Compensation Pl131
Equity-based Compensation Plan (Narratives) (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2015 | |
Average Fair Value | $ 5.77 | |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1 | 1 year 9 months | |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized | $ 1.7 |
Equity-based compensation Pl132
Equity-based compensation Plan (Equity-Based Compensation Plan) (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding RollForward | |||
Number of options - Beginning of period | 917,269 | 951,523 | 888,571 |
Number of options - Options granted | 0 | 0 | 179,225 |
Number of options - Options exercises | 71,150 | 24,752 | 112,704 |
Number of options - Options forfeited | 500 | 9,502 | 3,569 |
Number of options - End of period | 845,619 | 917,269 | 951,523 |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price Rollforward | |||
Weighted Average Exercise Price - Beginning of period | $ 14.08 | $ 12.45 | $ 14.12 |
Weighted Average Exercise Price - Options granted | 0 | 0 | 17.44 |
Weighted Average Exercise Price - Options exercises | 12.96 | 12.43 | 19.78 |
Weighted Average Exercise Price - Options forfeited | 15.23 | 16.68 | 16.06 |
Weighted Average Exercise Price - End of period | $ 14.14 | $ 14.08 | $ 12.45 |
Equity-Based Compensation (Summ
Equity-Based Compensation (Summary of the range of exercise prices and the weighted average remaining contractual life of the options) (Details) - $ / shares | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Line Items | ||||
Number of Options Outstanding | 845,619 | 917,269 | 951,523 | 888,571 |
Weighted Average Exercise Price outstanding | $ 14.14 | $ 14.08 | $ 12.45 | $ 14.12 |
Weighted Average Contract Life Remaining | 4 years 8 months | |||
Number of Options Exercisable | 611,149 | |||
Weighted Average Exercise Price | $ 13.2 | |||
Price Range One [Member] | ||||
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Line Items | ||||
Range of Exercise Prices - Lower Range | 5.63 | |||
Range of Exercise Prices -Upper Range | $ 8.45 | |||
Number of Options Outstanding | 4,078 | |||
Weighted Average Exercise Price outstanding | $ 8.28 | |||
Weighted Average Contract Life Remaining | 1 year 4 months | |||
Number of Options Exercisable | 4,078 | |||
Weighted Average Exercise Price | $ 8.28 | |||
Price Range Two [Member] | ||||
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Line Items | ||||
Range of Exercise Prices - Lower Range | 8.46 | |||
Range of Exercise Prices -Upper Range | $ 11.26 | |||
Number of Options Outstanding | 0 | |||
Weighted Average Exercise Price outstanding | $ 0 | |||
Weighted Average Contract Life Remaining | 0 years | |||
Number of Options Exercisable | 0 | |||
Weighted Average Exercise Price | $ 0 | |||
Price Range Three [Member] | ||||
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Line Items | ||||
Range of Exercise Prices - Lower Range | 11.27 | |||
Range of Exercise Prices -Upper Range | $ 14.08 | |||
Number of Options Outstanding | 388,241 | |||
Weighted Average Exercise Price outstanding | $ 11.85 | |||
Weighted Average Contract Life Remaining | 3 years | |||
Number of Options Exercisable | 388,241 | |||
Weighted Average Exercise Price | $ 11.85 | |||
Price Range Four [Member] | ||||
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Line Items | ||||
Range of Exercise Prices - Lower Range | 14.09 | |||
Range of Exercise Prices -Upper Range | $ 16.9 | |||
Number of Options Outstanding | 286,575 | |||
Weighted Average Exercise Price outstanding | $ 15.38 | |||
Weighted Average Contract Life Remaining | 5 years 8 months | |||
Number of Options Exercisable | 176,025 | |||
Weighted Average Exercise Price | $ 15.22 | |||
Price Range Five [Member] | ||||
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Line Items | ||||
Range of Exercise Prices - Lower Range | 16.91 | |||
Range of Exercise Prices -Upper Range | $ 19.71 | |||
Number of Options Outstanding | 165,225 | |||
Weighted Average Exercise Price outstanding | $ 17.44 | |||
Weighted Average Contract Life Remaining | 7 years 2 months | |||
Number of Options Exercisable | 41,305 | |||
Weighted Average Exercise Price | $ 17.44 | |||
Price Range Six [Member] | ||||
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Line Items | ||||
Range of Exercise Prices - Lower Range | 19.72 | |||
Range of Exercise Prices -Upper Range | $ 22.53 | |||
Number of Options Outstanding | 1,500 | |||
Weighted Average Exercise Price outstanding | $ 21.86 | |||
Weighted Average Contract Life Remaining | 2 months | |||
Number of Options Exercisable | 1,500 | |||
Weighted Average Exercise Price | $ 21.86 |
Equity-based Compensation Pl134
Equity-based Compensation Plan (Assumptions used in estimating fair value of the options granted) (Details) | 12 Months Ended |
Dec. 31, 2015 | |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions And Methodology Abstract | |
Dividend yield | 1.89% |
Expected volatility | 40.93% |
Risk-free interest rate | 2.41% |
Expected life (in years) | 8 years |
Equity-based Compensation Pl135
Equity-based Compensation Plan (Summary of the restricted units' activity under the Omnibus Plan) (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward | |||
Restricted units - Beginning of period | 59,800 | 138,400 | 153,050 |
Restricted units granted | 83,000 | 0 | 26,700 |
Restricted units lapsed | 33,100 | 76,903 | 39,750 |
Restricted stock forfeited | 3,900 | 1,697 | 1,600 |
Restricted units - End of period | 105,800 | 59,800 | 138,400 |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value RollForward | |||
Weighted average grant date - Beginning Of Period | $ 16.64 | $ 16.17 | $ 14.95 |
Weighted average grant date - Granted | 13.31 | 0 | 16.66 |
Weighted average grant date - Lapsed | 16.1 | 16.04 | 11.83 |
Weighted average grant date - Forfeited | 16.79 | 17.02 | 15.45 |
Weighted average grant date - End Of Period | $ 14.19 | $ 16.64 | $ 16.17 |
Stockholders' Equity (Narrative
Stockholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Equity, Class of Treasury Stock [Line Items] | |||
Treasury Stock, Value, Acquired, Cost Method | $ 0 | $ 0 | $ 8,950 |
Stock Repurchase Program Remaining Authorized Repurchase Amount1 | $ 7,700 | ||
Stock repurchase program remaining number of shares authorized to be repurchased | 822,431 | ||
SharePrice | $ 9.4 | ||
legal surplus | $ 81,500 | 76,300 | |
Preferred Stock [Member] | |||
Equity, Class of Treasury Stock [Line Items] | |||
Preferred Stock Issue Costs | 13,600 | 13,600 | |
Common Stock [Member] | |||
Equity, Class of Treasury Stock [Line Items] | |||
Common Stock Issuance Cost | $ 10,100 | $ 10,100 | |
Seventy Millions Repurchase Program [Member] | |||
Equity, Class of Treasury Stock [Line Items] | |||
Total number of shares purchased | 803,985 | ||
Treasury Stock Acquired, Average Cost Per Share | $ 11.1 | ||
Treasury Stock, Value, Acquired, Cost Method | $ 8,900 |
Stockholders' Equity (Shares re
Stockholders' Equity (Shares repurchased under the stock repurchase program) (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | |
Equity, Class of Treasury Stock [Line Items] | |||
Treasury Stock, Value | $ 104,502 | $ 104,860 | |
April 2015 [Member] | |||
Equity, Class of Treasury Stock [Line Items] | |||
Common shares repurchased as part of the stock repurchase program (Shares) | 204,338 | ||
Treasury Stock Acquired, Average Cost Per Share | $ 14.38 | ||
Treasury Stock, Value | $ 2,939 | ||
May 2015 [Member] | |||
Equity, Class of Treasury Stock [Line Items] | |||
Common shares repurchased as part of the stock repurchase program (Shares) | 48,200 | ||
Treasury Stock Acquired, Average Cost Per Share | $ 13.09 | ||
Treasury Stock, Value | $ 631 | ||
June 2015 [Member] | |||
Equity, Class of Treasury Stock [Line Items] | |||
Common shares repurchased as part of the stock repurchase program (Shares) | 51,447 | ||
Treasury Stock Acquired, Average Cost Per Share | $ 12.81 | ||
Treasury Stock, Value | $ 659 | ||
July 2015 [Member] | |||
Equity, Class of Treasury Stock [Line Items] | |||
Common shares repurchased as part of the stock repurchase program (Shares) | 500,000 | ||
Treasury Stock Acquired, Average Cost Per Share | $ 9.39 | ||
Treasury Stock, Value | $ 4,696 | ||
Seventy Millions Repurchase Program [Member] | |||
Equity, Class of Treasury Stock [Line Items] | |||
Common shares repurchased as part of the stock repurchase program (Shares) | 803,985 | ||
Treasury Stock Acquired, Average Cost Per Share | $ 11.1 | ||
Treasury Stock, Value | $ 8,925 |
Stockholders' Equity (Common sh
Stockholders' Equity (Common shares held in treasury, activity) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Stockholders' Equity Note [Abstract] | |||
Beginning of period | 8,711,025 | 8,757,960 | 8,012,254 |
Common shares used for exercise of restricted stock units (Shares) | (32,598) | (46,935) | (58,279) |
Common shares repurchased as part of the stock repurchase program (Shares) | 0 | 0 | 803,985 |
End of period | 8,678,427 | 8,711,025 | 8,757,960 |
Beginning of period | $ 104,860 | $ 105,379 | $ 97,070 |
Common shares used for exercise of restricted stock units (Value) | (358) | (519) | (641) |
Stock purchased under the repurchase program | 0 | 0 | 8,950 |
End of period | $ 104,502 | $ 104,860 | $ 105,379 |
Accumulated Other Comprehens139
Accumulated Other Comprehensive Income (Accumulated Comprehensive Income, net of income tax) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Accumulated Other Comprehensive Income [Line Items] | ||
Accumulated other comprehensive (Loss) income, net of tax, Total | $ (2,949) | $ 1,596 |
Accumulated Other Comprehensive Income (Loss) [Member] | ||
Accumulated Other Comprehensive Income [Line Items] | ||
Accumulated other comprehensive (Loss) income, net of tax, Total | (2,949) | 1,596 |
AccumulatedOtherThanTemporaryImpairmentMember | ||
Accumulated Other Comprehensive Income [Line Items] | ||
Unrealized gain on securities available-for-sale which are not other-than-temporarily impaired | (3,003) | 1,617 |
Income tax effect of unrealized gain on securities available-for-sale | 365 | 592 |
Net unrealized gain on securities available for sale wich are not other than temporarily impaired | (2,638) | 2,209 |
Accumulated Net Gain Loss From Designated Or Qualifying Cash Flow Hedges [Member] | ||
Accumulated Other Comprehensive Income [Line Items] | ||
Unrealized loss on cash flow hedges | (510) | (1,004) |
Income tax effect of unrealized loss on cash flow hedges | 199 | 391 |
Net unrealized (loss) income on cash flow hedges | $ (311) | $ (613) |
Accumulated Other Comprehens140
Accumulated Other Comprehensive Income (Changes in Other Comprehensive Income by Components) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net unrealized gains on securities available for sale | |||
Accumulated Other Comprehensive Income [Line Items] | |||
Beginning balance | $ 2,209,000 | $ 16,924,000 | $ 25,765 |
Other Comprehensive Income Loss Before Reclassifications Net Of Tax | (11,563,000) | (26,661,000) | (5,822,000) |
Other-than-temporary impairment losses on investment securities | (4,662,000) | ||
Reclassification Out Of Accumulated Other Comprehensive Income | 6,716,000 | 11,946,000 | 1,643,000 |
Other Comprehensive Income (Loss) Other Net Of Tax | (4,847,000) | (14,715,000) | (8,841,000) |
Ending balance | (2,638,000) | 2,209,000 | 16,924,000 |
Net unrealized loss on cash flow hedges | |||
Accumulated Other Comprehensive Income [Line Items] | |||
Beginning balance | (613,000) | (2,927,000) | (6,054) |
Other Comprehensive Income Loss Before Reclassifications Net Of Tax | (186,000) | (1,628,000) | (3,019,000) |
Other-than-temporary impairment losses on investment securities | 0 | ||
Reclassification Out Of Accumulated Other Comprehensive Income | 488,000 | 3,942,000 | 6,146,000 |
Other Comprehensive Income (Loss) Other Net Of Tax | 302,000 | 2,314,000 | 3,127,000 |
Ending balance | (311,000) | (613,000) | (2,927,000) |
Accumulated Other Comprehensive Income (Loss) [Member] | |||
Accumulated Other Comprehensive Income [Line Items] | |||
Beginning balance | 1,596,000 | 13,997,000 | 19,711 |
Other Comprehensive Income Loss Before Reclassifications Net Of Tax | (11,749,000) | (28,289,000) | (8,841,000) |
Other-than-temporary impairment losses on investment securities | (4,662,000) | ||
Reclassification Out Of Accumulated Other Comprehensive Income | 7,204,000 | 15,888,000 | 7,789,000 |
Other Comprehensive Income (Loss) Other Net Of Tax | (4,545,000) | (12,401,000) | (5,714,000) |
Ending balance | $ (2,949,000) | $ 1,596,000 | $ 13,997,000 |
Accumulated Other Comprehens141
Accumulated Other Comprehensive Income (Reclassifications out of other comprehensive income) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||
Other-than-temporary impairment amount reclassified from accumulated other comprehensive income | $ 0 | $ 0 | $ 1,490 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | |||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||
Interest Rate Contract | 488 | 3,642 | 6,443 |
Tax effect from increase in capital gains tax rate, Cash flow hedges | 0 | 300 | (297) |
Gain On Sale Of Investments | 6,896 | 12,207 | 2,572 |
Other-than-temporary impairment amount reclassified from accumulated other comprehensive income | 0 | 0 | 1,490 |
Residual tax effect from OIB's change in applicable tax rate AFS | 104 | 32 | 45 |
Tax effect from increase in capital gains tax rate AFS | (284) | (293) | 516 |
Total | $ 7,204 | $ 15,888 | $ 7,789 |
Earnings Per Common Share (Narr
Earnings Per Common Share (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |||
Stock Conversion Rate | 86.4225 | ||
Weighted average stock anti dilutive effect excluded from calculation of earnings per share | 932,306 | 949,134 | 887,307 |
Convertible Preferred Stock | $ 84,000 | $ 84,000 | |
Series C Convertible Preferred Stock | |||
Preferred stock, shares issued | 84,000 | 84,000 |
Earnings Per Common Share (Earn
Earnings Per Common Share (Earnings per common share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |||
Net income (loss) | $ 52,646 | $ 59,186 | $ (2,504) |
Non-Convertible Preferred Stock Dividend (Series A,B and D) | (6,512) | (6,512) | (6,512) |
Convertible Preferred Stock Dividend (Series C) | (7,350) | (7,350) | (7,350) |
Income available to common shareholders | 38,784 | 45,324 | (16,366) |
Effect of assumed conversion of convertible preferred stock | 7,350 | 7,350 | 7,350 |
Income available to common sharesholders assuming conversion | $ 46,134 | $ 52,674 | $ (9,016) |
Average common shares outstanding | 43,939 | 43,913 | 44,231 |
Average potential common shares options | 19 | 37 | 68 |
Average potential common shares convertible preferred stock | 7,138 | 7,138 | 7,156 |
Average common shares outstanding and equivalents | 51,096 | 51,088 | 51,455 |
Earnings per common share - basic | $ 0.88 | $ 1.03 | $ (0.37) |
Earnings per common share - diluted | $ 0.88 | $ 1.03 | $ (0.37) |
Guarantees (Narrative) (Details
Guarantees (Narrative) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Guarantee Obligations [Line Items] | |||
Acquired standby letters of credit and financial guarantees | $ 21,100,000 | $ 4,000,000 | |
Unpaid principal balance of residential subject loans subject to credit recourse | 6,400,000 | 20,100,000 | |
Repurchased GNMA | 107,000 | 515,000 | |
Liability for estimated credit losses to loans sold with credit recourse | 358,000 | 710,000 | |
Repurchased loans not subject to credit recourse provision | 3,100,000 | 3,700,000 | |
Losses from repurchased loans subject to credit recourse | 260,000 | 380,000 | $ 1,400,000 |
Losses On Repurchased Loan Not Subject To Credit Recourse | 477,000 | 1,300,000 | $ 2,500,000 |
Serviced mortgage loans for third parties | 864,900,000 | ||
Funds Advanced To Investors Under Servicing Agreements | $ 440,000 | $ 334,000 |
Guarantees (Changes in liabilty
Guarantees (Changes in liabilty of estimated loss from credit recourse agreement) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Movement In Guaranteed Benefit Liability Gross Roll Forward | |||
Balance at beginning of the period | $ 710 | $ 439 | $ 927 |
Net charge-off/terminations | (352) | (271) | (488) |
Balance at the end of the period | $ 358 | $ 710 | $ 439 |
Commitments (Narratives) (Detai
Commitments (Narratives) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Commitments and Contingencies [Abstract] | |||
Rent Expenses | $ 9,900 | $ 8,500 | $ 9,200 |
Line of credit reserve | $ 567 | $ 667 |
Commitments (Summarized credit-
Commitments (Summarized credit-related financial instruments) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Commitments and Contingencies [Abstract] | ||
Commitments To Extend Credit | $ 485,019 | $ 492,885 |
Commercial letters credit | 494 | 2,721 |
Standby letters of credit and financial guarantees | 21,107 | 4,041 |
Loans sold with recourse | $ 6,420 | $ 20,126 |
Commitments (Future rental comm
Commitments (Future rental commitments under leases) (Details) $ in Thousands | Dec. 31, 2017USD ($) |
Operating Leases, Future Minimum Payments Due [Abstract] | |
2,018 | $ 7,251 |
2,019 | 6,345 |
2,020 | 5,679 |
2,021 | 4,796 |
2,022 | 3,379 |
Thereafter | 6,869 |
Total | $ 34,319 |
Fair Value (Assets and liabilit
Fair Value (Assets and liabilities on recurring and non-recurring basis) (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available for sale securities | $ 645,797,000 | $ 751,484,000 | ||
Money Market Funds, at Carrying Value | 7,021,000 | 5,606,000 | ||
Trading Securities | 191,000 | 347,000 | ||
Derivative Assets | 771,000 | 1,330,000 | ||
Servicing Assets | 9,821,000 | 9,858,000 | $ 7,455,000 | $ 13,992,000 |
Derivative liabilities | (1,281,000) | (2,437,000) | ||
Total | 662,320,000 | 766,188,000 | ||
Impaired Commercial Loan | 72,285,000 | 54,289,000 | ||
Foreclosed real estate | 44,174,000 | 47,520,000 | $ 58,176,000 | $ 95,750,000 |
Other repossessed assets | 3,548,000 | 3,224,000 | ||
Total | 120,007,000 | 105,033,000 | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available for sale securities | 0 | 0 | ||
Money Market Funds, at Carrying Value | 7,021,000 | 5,606,000 | ||
Trading Securities | 0 | 0 | ||
Derivative Assets | 0 | 0 | ||
Servicing Assets | 0 | 0 | ||
Derivative liabilities | 0 | 0 | ||
Total | 7,021,000 | 5,606,000 | ||
Impaired Commercial Loan | 0 | 0 | ||
Foreclosed real estate | 0 | 0 | ||
Other repossessed assets | 0 | 0 | ||
Total | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available for sale securities | 645,797,000 | 751,484,000 | ||
Money Market Funds, at Carrying Value | 0 | 0 | ||
Trading Securities | 191,000 | 347,000 | ||
Derivative Assets | 771,000 | 1,330,000 | ||
Servicing Assets | 0 | 0 | ||
Derivative liabilities | (1,281,000) | (2,437,000) | ||
Total | 645,478,000 | 750,724,000 | ||
Impaired Commercial Loan | 0 | 0 | ||
Foreclosed real estate | 0 | 0 | ||
Other repossessed assets | 0 | 0 | ||
Total | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available for sale securities | 0 | 0 | ||
Money Market Funds, at Carrying Value | 0 | 0 | ||
Trading Securities | 0 | 0 | ||
Derivative Assets | 0 | 0 | ||
Servicing Assets | 9,821,000 | 9,858,000 | ||
Derivative liabilities | 0 | 0 | ||
Total | 9,821,000 | 9,858,000 | ||
Impaired Commercial Loan | 72,285,000 | 54,289,000 | ||
Foreclosed real estate | 44,174,000 | 47,520,000 | ||
Other repossessed assets | 3,548,000 | 3,224,000 | ||
Total | 120,007,000 | 105,033,000 | ||
Fair Value, Measurements, Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available for sale securities | 645,797,000 | 751,484,000 | ||
Money Market Funds, at Carrying Value | 7,021,000 | 5,606,000 | ||
Trading Securities | 191,000 | 347,000 | ||
Derivative Assets | 771,000 | 1,330,000 | ||
Servicing Assets | 9,821,000 | 9,858,000 | ||
Derivative liabilities | (1,281,000) | (2,437,000) | ||
Total | 662,320,000 | 766,188,000 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available for sale securities | 0 | 0 | ||
Money Market Funds, at Carrying Value | 7,021,000 | 5,606,000 | ||
Trading Securities | 0 | 0 | ||
Derivative Assets | 0 | 0 | ||
Servicing Assets | 0 | 0 | ||
Derivative liabilities | 0 | 0 | ||
Total | 7,021,000 | 5,606,000 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available for sale securities | 645,797,000 | 751,484,000 | ||
Money Market Funds, at Carrying Value | 0 | 0 | ||
Trading Securities | 191,000 | 347,000 | ||
Derivative Assets | 771,000 | 1,330,000 | ||
Servicing Assets | 0 | 0 | ||
Derivative liabilities | (1,281,000) | (2,437,000) | ||
Total | 645,478,000 | 750,724,000 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available for sale securities | 0 | 0 | ||
Money Market Funds, at Carrying Value | 0 | 0 | ||
Trading Securities | 0 | 0 | ||
Derivative Assets | 0 | 0 | ||
Servicing Assets | 9,821,000 | 9,858,000 | ||
Derivative liabilities | 0 | 0 | ||
Total | 9,821,000 | 9,858,000 | ||
Fair Value, Measurements, Nonrecurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Impaired Commercial Loan | 72,285,000 | 54,289,000 | ||
Foreclosed real estate | 44,174,000 | 47,520,000 | ||
Other repossessed assets | 3,548,000 | 3,224,000 | ||
Total | 120,007,000 | 105,033,000 | ||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Impaired Commercial Loan | 0 | 0 | ||
Foreclosed real estate | 0 | 0 | ||
Other repossessed assets | 0 | 0 | ||
Total | 0 | 0 | ||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Impaired Commercial Loan | 0 | 0 | ||
Foreclosed real estate | 0 | 0 | ||
Other repossessed assets | 0 | 0 | ||
Total | 0 | 0 | ||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Impaired Commercial Loan | 72,285,000 | 54,289,000 | ||
Foreclosed real estate | 44,174,000 | 47,520,000 | ||
Other repossessed assets | 3,548,000 | 3,224,000 | ||
Total | $ 120,007,000 | $ 105,033,000 |
Fair Value (Reconciliation of a
Fair Value (Reconciliation of assets and liabilities using significant unobservable inputs (Level 3)) (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Balance | $ 9,858 | $ 7,531 | $ 14,070 |
Gains (losses) included in earnings | (104) | (187) | |
Sale of Mortgage Servicing Rights | (5,927) | ||
New instruments acquired | 1,658 | 2,616 | 2,620 |
Change due to principal payments | (590) | (489) | (1,017) |
Amortization | 28 | 185 | |
Changes in fair value related to pricr of MSRs held for sale | (2,939) | ||
Changes in fair value of servicing assets | (1,105) | 276 | 726 |
Balance | 9,821 | 9,858 | 7,531 |
Derivative Financial Instruments, Assets [Member] | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Balance | 0 | 1,171 | 5,555 |
Gains (losses) included in earnings | (1,171) | (4,384) | |
Sale of Mortgage Servicing Rights | 0 | ||
New instruments acquired | 0 | 0 | |
Change due to principal payments | 0 | 0 | |
Amortization | 0 | 0 | |
Changes in fair value related to pricr of MSRs held for sale | 0 | ||
Changes in fair value of servicing assets | 0 | 0 | |
Balance | 0 | 1,171 | |
Servicing Assets [Member] | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Balance | 9,858 | 7,455 | 13,992 |
Gains (losses) included in earnings | 0 | 0 | |
Sale of Mortgage Servicing Rights | (5,927) | ||
New instruments acquired | 1,658 | 2,616 | 2,620 |
Change due to principal payments | (590) | (489) | (1,017) |
Amortization | 0 | 0 | |
Changes in fair value related to pricr of MSRs held for sale | (2,939) | ||
Changes in fair value of servicing assets | (1,105) | 276 | 726 |
Balance | 9,821 | 9,858 | 7,455 |
Derivative Financial Instruments, Liabilities [Member] | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Balance | $ 0 | (1,095) | (5,477) |
Gains (losses) included in earnings | 1,067 | 4,197 | |
Sale of Mortgage Servicing Rights | 0 | ||
New instruments acquired | 0 | 0 | |
Change due to principal payments | 0 | 0 | |
Amortization | 28 | 185 | |
Changes in fair value related to pricr of MSRs held for sale | 0 | ||
Changes in fair value of servicing assets | 0 | 0 | |
Balance | $ 0 | $ (1,095) |
Fair Value (Qualitative informa
Fair Value (Qualitative information for assets and liabilities) (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Servicing Assets [Member] | Cash Flow Valuation Technique [Member] | |
Fair Value Inputs Assets Quantitative Information [Line Items] | |
Fair Value assets and liabilities measured on reccurring basis | $ 9,821 |
Valuation Technique | Cash flow valuation |
Servicing Assets [Member] | Cash Flow Valuation Technique [Member] | Minimum [Member] | |
Fair Value Inputs Assets Quantitative Information [Line Items] | |
Constant prepayment rate | 3.94% |
Discount rate | 10.00% |
Servicing Assets [Member] | Cash Flow Valuation Technique [Member] | Maximum [Member] | |
Fair Value Inputs Assets Quantitative Information [Line Items] | |
Constant prepayment rate | 8.49% |
Discount rate | 12.00% |
Collateral dependant impaired loan | Fair value of property or collateral [Member] | |
Fair Value Inputs Assets Quantitative Information [Line Items] | |
Fair Value assets and liabilities measured on reccurring basis | $ 36,734 |
Valuation Technique | Fair value of property or collateral |
Collateral dependant impaired loan | Fair value of property or collateral [Member] | Minimum [Member] | |
Fair Value Inputs Assets Quantitative Information [Line Items] | |
Appraised Value | 20.20% |
Collateral dependant impaired loan | Fair value of property or collateral [Member] | Maximum [Member] | |
Fair Value Inputs Assets Quantitative Information [Line Items] | |
Appraised Value | 36.20% |
Other non-collateral dependant impaired loans [Member] | Cash Flow Valuation Technique [Member] | |
Fair Value Inputs Assets Quantitative Information [Line Items] | |
Fair Value assets and liabilities measured on reccurring basis | $ 35,551 |
Valuation Technique | Cash flow valuation |
Other non-collateral dependant impaired loans [Member] | Cash Flow Valuation Technique [Member] | Minimum [Member] | |
Fair Value Inputs Assets Quantitative Information [Line Items] | |
Discount rate | 4.15% |
Other non-collateral dependant impaired loans [Member] | Cash Flow Valuation Technique [Member] | Maximum [Member] | |
Fair Value Inputs Assets Quantitative Information [Line Items] | |
Discount rate | 10.50% |
Foreclosed real estate [Member] | Fair value of property or collateral [Member] | |
Fair Value Inputs Assets Quantitative Information [Line Items] | |
Fair Value assets and liabilities measured on reccurring basis | $ 44,174 |
Valuation Technique | Fair value of property or collateral |
Foreclosed real estate [Member] | Fair value of property or collateral [Member] | Minimum [Member] | |
Fair Value Inputs Assets Quantitative Information [Line Items] | |
Appraised Value | 20.20% |
Foreclosed real estate [Member] | Fair value of property or collateral [Member] | Maximum [Member] | |
Fair Value Inputs Assets Quantitative Information [Line Items] | |
Appraised Value | 36.20% |
Other repossessed assets [Member] | Fair value of property or collateral [Member] | |
Fair Value Inputs Assets Quantitative Information [Line Items] | |
Fair Value assets and liabilities measured on reccurring basis | $ 3,548 |
Valuation Technique | Fair value of property or collateral |
Other repossessed assets [Member] | Fair value of property or collateral [Member] | Minimum [Member] | |
Fair Value Inputs Assets Quantitative Information [Line Items] | |
Estimated net realizable value | 29.00% |
Other repossessed assets [Member] | Fair value of property or collateral [Member] | Maximum [Member] | |
Fair Value Inputs Assets Quantitative Information [Line Items] | |
Estimated net realizable value | 71.00% |
Fair value (Estimated fair valu
Fair value (Estimated fair value and carrying value) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Assets, Fair Value Disclosure [Abstract] | ||||
Cash and Cash Equivalents, Fair Value Disclosure | $ 485,203 | $ 510,439 | ||
Restricted Cash, at Fair Value | 3,030 | 3,030 | ||
Trading Securities | 191 | 347 | ||
Available-for-sale Securities | 645,797 | 751,484 | ||
Held to maturity Fair Value | 497,681 | 592,763 | ||
Federal Home Loan Bank (FHLB) stock | 13,995 | 10,793 | ||
Other Investments | 3 | 3 | ||
Loans Including HFS Fair Value | 3,842,907 | 3,917,340 | ||
Derivative Assets | 771 | 1,330 | ||
FDIC Indemnification Asset Fair Value Disclosure | 0 | 8,669 | ||
Receivables, Fair Value Disclosure | 49,969 | 20,227 | ||
Servicing Assets | 9,821 | 9,858 | $ 7,455 | $ 13,992 |
Account Receivable and Other assets, Fair Value | 41,898 | 47,120 | ||
Liabilities, Fair Value Disclosure [Abstract] | ||||
Deposits, Fair Value Disclosure | 4,782,197 | 4,644,629 | ||
Securities sold under agreements to repurchase | 191,104 | 651,898 | ||
Advances from FHLB | 99,509 | 106,422 | ||
Other Borrowings | 153 | 61 | ||
Subordinated capital notes | 33,080 | 30,230 | ||
Derivative Liabilities Current | 1,281 | 2,437 | ||
Accrued expenses and other liabilities | 86,791 | 95,370 | ||
Assets,Carrying Value [Abstract] | ||||
Cash and Cash Equivalents, at Carrying Value | 485,203 | 510,439 | ||
Restricted Cash And Cash Equivalents | 3,030 | 3,030 | ||
Trading Securities | 191 | 347 | ||
Investment securities AFS , carrying value | 645,797 | 751,484 | ||
Investment held for sale, carrying amount | 506,064 | 599,884 | ||
Federal Home Loan Bank Stock at carrying value | 13,995 | 10,793 | ||
Other Investment, Carrying Value | 3 | 3 | ||
Loans, net of allowance for loan and lease losses | 4,037,362 | 4,129,427 | ||
Derivative Assets, carrying value | 771 | 1,330 | ||
FDIC Indemnification Asset | 0 | 14,411 | $ 22,599 | $ 97,378 |
Accrued interest receivable | 49,969 | 20,227 | ||
Servicing assets, carrying value | 9,821 | 9,858 | ||
Account receivable and oher assets, carrying value | 41,898 | 47,120 | ||
Liabilities,Carrying Value Disclosure [Abstract] | ||||
Deposits, Total | 4,799,482 | 4,664,487 | ||
Securities Sold under Agreements to Repurchase | 192,869 | 653,756 | ||
Advances from FHLB | 99,643 | 105,454 | ||
Other Borrowings | 153 | 61 | ||
Subordinated capital notes | 36,083 | 36,083 | ||
Accrued expenses and other liabilities | 86,791 | 95,370 | ||
Derivative liabilities, carrying value | 1,281 | 2,437 | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Assets, Fair Value Disclosure [Abstract] | ||||
Cash and Cash Equivalents, Fair Value Disclosure | 485,203 | 510,439 | ||
Restricted Cash, at Fair Value | 3,030 | 3,030 | ||
Available-for-sale Securities | 0 | 0 | ||
Derivative Assets | 0 | 0 | ||
Servicing Assets | 0 | 0 | ||
Liabilities, Fair Value Disclosure [Abstract] | ||||
Derivative Liabilities Current | 0 | 0 | ||
Assets,Carrying Value [Abstract] | ||||
Cash and Cash Equivalents, at Carrying Value | 485,203 | 510,439 | ||
Restricted Cash And Cash Equivalents | 3,030 | 3,030 | ||
Trading Securities | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
Assets, Fair Value Disclosure [Abstract] | ||||
Trading Securities | 191 | 347 | ||
Available-for-sale Securities | 645,797 | 751,484 | ||
Held to maturity Fair Value | 497,681 | 592,763 | ||
Federal Home Loan Bank (FHLB) stock | 13,995 | 10,793 | ||
Other Investments | 3 | 3 | ||
Derivative Assets | 771 | 1,330 | ||
Servicing Assets | 0 | 0 | ||
Liabilities, Fair Value Disclosure [Abstract] | ||||
Derivative Liabilities Current | 1,281 | 2,437 | ||
Assets,Carrying Value [Abstract] | ||||
Trading Securities | 191 | 347 | ||
Investment securities AFS , carrying value | 645,797 | 751,484 | ||
Investment held for sale, carrying amount | 506,064 | 599,884 | ||
Federal Home Loan Bank Stock at carrying value | 13,995 | 10,793 | ||
Other Investment, Carrying Value | 3 | 3 | ||
Derivative Assets, carrying value | 771 | 1,330 | ||
Liabilities,Carrying Value Disclosure [Abstract] | ||||
Derivative liabilities, carrying value | 1,281 | 2,437 | ||
Fair Value, Inputs, Level 3 [Member] | ||||
Assets, Fair Value Disclosure [Abstract] | ||||
Available-for-sale Securities | 0 | 0 | ||
Loans Including HFS Fair Value | 3,842,907 | 3,917,340 | ||
Derivative Assets | 0 | 0 | ||
FDIC Indemnification Asset Fair Value Disclosure | 0 | 8,669 | ||
Receivables, Fair Value Disclosure | 49,969 | 20,227 | ||
Servicing Assets | 9,821 | 9,858 | ||
Account Receivable and Other assets, Fair Value | 41,898 | 47,120 | ||
Liabilities, Fair Value Disclosure [Abstract] | ||||
Deposits, Fair Value Disclosure | 4,782,197 | 4,644,629 | ||
Securities sold under agreements to repurchase | 191,104 | 651,898 | ||
Advances from FHLB | 99,509 | 106,422 | ||
Other Borrowings | 153 | 61 | ||
Subordinated capital notes | 33,080 | 30,230 | ||
Derivative Liabilities Current | 0 | 0 | ||
Accrued expenses and other liabilities | 86,791 | 95,370 | ||
Assets,Carrying Value [Abstract] | ||||
Trading Securities | 0 | 0 | ||
Loans, net of allowance for loan and lease losses | 4,056,329 | 4,147,692 | ||
FDIC Indemnification Asset | 0 | 14,411 | ||
Accrued interest receivable | 49,969 | 20,227 | ||
Servicing assets, carrying value | 9,821 | 9,858 | ||
Account receivable and oher assets, carrying value | 41,898 | 47,120 | ||
Liabilities,Carrying Value Disclosure [Abstract] | ||||
Deposits, Total | 4,799,482 | 4,664,487 | ||
Securities Sold under Agreements to Repurchase | 192,869 | 653,756 | ||
Advances from FHLB | 99,643 | 105,454 | ||
Other Borrowings | 153 | 61 | ||
Subordinated capital notes | 36,083 | 36,083 | ||
Accrued expenses and other liabilities | $ 86,791 | $ 95,370 |
Business Segments (Details)
Business Segments (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Segment Reporting Information [Line Items] | |||
Total interest income | $ 345,647 | $ 356,592 | $ 406,568 |
Interest expense | (41,475) | (57,165) | (69,196) |
Net interest income | 304,172 | 299,427 | 337,372 |
Provision for Loan and Lease Losses, net | (113,139) | (65,076) | (161,501) |
Total non-interest income (loss), net | 78,687 | 66,819 | 52,576 |
Non-interest expenses | (201,631) | (215,990) | (248,505) |
Intersegment revenues | 0 | 0 | 0 |
Intersegment expenses | 0 | 0 | 0 |
Income (loss) before Income Taxes, Parent | 68,089 | 85,180 | (20,058) |
Income Tax Expense (Benefit) | 15,443 | 25,994 | (17,554) |
Net (Loss) Income Attributable to Parent | 52,646 | 59,186 | (2,504) |
Total assets | 6,189,053 | 6,501,824 | |
Banking [Member] | |||
Segment Reporting Information [Line Items] | |||
Total interest income | 311,503 | 321,868 | 367,620 |
Interest expense | (26,308) | (27,838) | (28,425) |
Net interest income | 285,195 | 294,030 | 339,195 |
Provision for Loan and Lease Losses, net | (113,108) | (65,076) | (161,501) |
Total non-interest income (loss), net | 45,102 | 35,587 | 24,004 |
Non-interest expenses | (178,540) | (193,156) | (219,519) |
Intersegment revenues | 1,604 | 1,521 | 1,427 |
Intersegment expenses | (748) | (883) | (948) |
Income (loss) before Income Taxes, Parent | 39,505 | 72,023 | (17,342) |
Total assets | 5,597,077 | 5,584,866 | 5,867,874 |
Financial Services | |||
Segment Reporting Information [Line Items] | |||
Total interest income | 53 | 65 | 95 |
Interest expense | 0 | 0 | 0 |
Net interest income | 53 | 65 | 95 |
Provision for Loan and Lease Losses, net | 0 | 0 | 0 |
Total non-interest income (loss), net | 26,069 | 26,788 | 28,288 |
Non-interest expenses | (17,830) | (17,443) | (22,564) |
Intersegment revenues | 0 | 0 | 0 |
Intersegment expenses | (1,137) | (1,108) | (1,027) |
Income (loss) before Income Taxes, Parent | 7,155 | 8,302 | 4,792 |
Total assets | 25,980 | 23,315 | 22,349 |
Treasury [Member] | |||
Segment Reporting Information [Line Items] | |||
Total interest income | 34,091 | 34,659 | 38,853 |
Interest expense | (15,167) | (29,327) | (40,771) |
Net interest income | 18,924 | 5,332 | (1,918) |
Provision for Loan and Lease Losses, net | (31) | 0 | 0 |
Total non-interest income (loss), net | 7,516 | 4,444 | 284 |
Non-interest expenses | (5,261) | (5,391) | (6,422) |
Intersegment revenues | 748 | 883 | 948 |
Intersegment expenses | (467) | (413) | (400) |
Income (loss) before Income Taxes, Parent | 21,429 | 4,855 | (7,508) |
Total assets | 1,536,417 | 1,837,514 | 2,126,921 |
Major Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Total interest income | 345,647 | 356,592 | 406,568 |
Interest expense | (41,475) | (57,165) | (69,196) |
Net interest income | 304,172 | 299,427 | 337,372 |
Provision for Loan and Lease Losses, net | (113,139) | (65,076) | (161,501) |
Total non-interest income (loss), net | 78,687 | 66,819 | 52,576 |
Non-interest expenses | (201,631) | (215,990) | (248,505) |
Intersegment revenues | 2,352 | 2,404 | 2,375 |
Intersegment expenses | (2,352) | (2,404) | (2,375) |
Income (loss) before Income Taxes, Parent | 68,089 | 85,180 | (20,058) |
Total assets | 7,159,474 | 7,445,695 | 8,017,144 |
Intersegment Elimination [Member] | |||
Segment Reporting Information [Line Items] | |||
Total interest income | 0 | 0 | 0 |
Interest expense | 0 | 0 | 0 |
Net interest income | 0 | 0 | 0 |
Provision for Loan and Lease Losses, net | 0 | 0 | 0 |
Total non-interest income (loss), net | 0 | 0 | 0 |
Non-interest expenses | 0 | 0 | 0 |
Intersegment revenues | (2,352) | (2,404) | (2,375) |
Intersegment expenses | 2,352 | 2,404 | 2,375 |
Income (loss) before Income Taxes, Parent | 0 | 0 | 0 |
Total assets | (970,421) | (943,871) | (917,995) |
Consolidated Total [Member] | |||
Segment Reporting Information [Line Items] | |||
Total interest income | 345,647 | 356,592 | 406,568 |
Interest expense | (41,475) | (57,165) | (69,196) |
Net interest income | 304,172 | 299,427 | 337,372 |
Provision for Loan and Lease Losses, net | (113,139) | (65,076) | (161,501) |
Total non-interest income (loss), net | 78,687 | 66,819 | 52,576 |
Non-interest expenses | (201,631) | (215,990) | (248,505) |
Intersegment revenues | 0 | 0 | 0 |
Intersegment expenses | 0 | 0 | 0 |
Income (loss) before Income Taxes, Parent | 68,089 | 85,180 | (20,058) |
Total assets | $ 6,189,053 | $ 6,501,824 | $ 7,099,149 |
OFG Bancorp Holding Company Onl
OFG Bancorp Holding Company Only Financial Information (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Oriental Insurance [Member] | ||
Subsidiary [Line Items] | ||
Dividends Paid | $ 4 | $ 5 |
Oriental Financial Services [Member] | ||
Subsidiary [Line Items] | ||
Dividends Paid | $ 1 |
OFG Bancorp Holding Company 155
OFG Bancorp Holding Company Only Financial Information (Balance Sheet) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Assets [Abstract] | ||
Investment securities available-for-sale, at fair value | $ 645,797 | $ 751,484 |
Deferred tax asset | 127,421 | 124,200 |
Other Assets | 64,693 | 80,365 |
Liabilities and Stockholders' Equity [Abstract] | ||
Accrued expenses and other liabilities | 86,791 | 95,370 |
Subordinated capital notes | 36,083 | 36,083 |
Stockholders' Equity | 945,107 | 920,411 |
Parent [Member] | ||
Assets [Abstract] | ||
Cash and Due From Banks Parent | 24,430 | 22,573 |
Investment in bank subsidiary, equity method | 941,198 | 920,085 |
Investment in nonbank subsidiaries, equity method | 20,231 | 18,427 |
Due From Bank Subsidiary | 22 | 92 |
Deferred tax asset | 2,230 | 2,643 |
Other Assets | 1,616 | 2,085 |
Total Parent Assets | 989,727 | 965,905 |
Liabilities and Stockholders' Equity [Abstract] | ||
DividendsPayableCurrent | 6,504 | 6,501 |
Due to Affiliates | 0 | 237 |
Accrued expenses and other liabilities | 2,033 | 2,673 |
Subordinated capital notes | 36,083 | 36,083 |
Total Parent Liabilities | 44,620 | 45,494 |
Stockholders' Equity | 945,107 | 920,411 |
Total Parent Liabilities and Stockholders' Equity | $ 989,727 | $ 965,905 |
OFG BANCORP Holding Company 156
OFG BANCORP Holding Company Only Financial Information (Statement of Operations) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Parent income [Abstract] | |||
Investment securities | $ 6,232 | $ 4,125 | $ 3,608 |
Costs And Expenses [Abstract] | |||
Interest Expense | 41,475 | 57,165 | 69,196 |
Income (loss) before income taxes | 68,089 | 85,180 | (20,058) |
Parent [Member] | |||
Parent income [Abstract] | |||
Interest income | 188 | 174 | 321 |
Gain On Sale Of Investments | 0 | 211 | 0 |
Investment securities | 4,511 | 4,066 | 4,007 |
Total income | 4,699 | 4,451 | 4,328 |
Costs And Expenses [Abstract] | |||
Interest Expense | 1,556 | 1,370 | 1,222 |
Operating expenses | 6,700 | 7,179 | 6,866 |
Total expenses | 8,256 | 8,549 | 8,088 |
Income (loss) before income taxes | (3,557) | (4,098) | (3,760) |
Parent Income (Loss) Tax Expense (Benefit) | 403 | 518 | (3,088) |
(Loss) income before changes in undistributed earnings of subsidiaries | (3,960) | (4,616) | (672) |
Bank Subsidiary | 51,612 | 58,580 | (3,804) |
Nonbank Subsidiaries | 4,994 | 5,222 | 1,972 |
Net income (loss) | $ 52,646 | $ 59,186 | $ (2,504) |
OFG BANCORP Holding Company 157
OFG BANCORP Holding Company Only Financial Information (Statement of Comprehensive Income) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Legal Entity [Line items] | |||
Net income | $ 52,646 | $ 59,186 | $ (2,504) |
Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||
Unrealized gain (loss) on securities available-for-sale | 2,276 | (5,023) | (8,814) |
Parent [Member] | |||
Legal Entity [Line items] | |||
Net income | 52,646 | 59,186 | (2,504) |
Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||
Unrealized gain (loss) on securities available-for-sale | 0 | (204) | (170) |
Other comprehensive income (loss) from bank subsidiary | (4,545) | (12,238) | (5,578) |
Other comprehensive income (loss) before taxes | (4,545) | (12,442) | (5,748) |
Income tax effect | 0 | 41 | 34 |
Other comprehensive income (loss) after taxes | (4,545) | (12,401) | (5,714) |
Parent comprehensive income net of tax | $ 48,101 | $ 46,785 | $ (8,218) |
OFG BANCORP Holding Company 158
OFG BANCORP Holding Company Only Financial Information (Statement of Cash Flows) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Legal Entity [Line items] | |||
Net (Loss) Income Attributable to Parent | $ 52,646 | $ 59,186 | $ (2,504) |
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract] | |||
Amortization of investment securities premiums, net of accretion of discounts | 7,865 | 8,540 | 12,109 |
Gain (Loss) on Sale of Securities, Net | 6,896 | 12,207 | 2,572 |
Stock-based compensation | 1,109 | 1,270 | 1,637 |
Stock-based compensation excess tax benefit recognized in income | (99) | 0 | 0 |
Deferred income taxes, net | (3,658) | 23,226 | (37,329) |
Net (increase) decrease in other assets | (13,675) | 7,941 | 14,849 |
Net increase (decrease) in accrued expenses and other liabilities | 28,431 | 4,344 | (14,584) |
Net Cash Provided by (Used in) Investing Activities [Abstract] | |||
Maturities and redemptions of investment securities available-for-sale | 105,169 | 145,512 | 238,003 |
Proceeds from Sale and Maturity of Available-for-sale Securities | 256,996 | 300,483 | 103,831 |
Cash flows from financing activities: | |||
Purchase of treasury stock | 0 | 0 | 8,950 |
Net change in cash and cash equivalents | (25,236) | (26,270) | (36,718) |
Cash and due from banks, parent | 504,833 | ||
Cash and due from banks, parent | 478,182 | 504,833 | |
Parent [Member] | |||
Legal Entity [Line items] | |||
Net (Loss) Income Attributable to Parent | 52,646 | 59,186 | (2,504) |
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract] | |||
Equity in undistributed earnings from banking subsidiary | (51,612) | (58,580) | 3,804 |
Equity in undistributed earnings from nonbanking subsidiaries | (4,994) | (5,222) | (1,972) |
Amortization of investment securities premiums, net of accretion of discounts | 0 | 12 | 44 |
Gain (Loss) on Sale of Securities, Net | 0 | 211 | 0 |
Other Impairments On Securities | 0 | 0 | 0 |
Stock-based compensation | 1,109 | 1,270 | 1,637 |
Stock-based compensation excess tax benefit recognized in income | (99) | 0 | 0 |
Deferred income taxes, net | 414 | 444 | (3,088) |
Net (increase) decrease in other assets | (205) | 42 | 148 |
Net increase (decrease) in accrued expenses and other liabilities | (1,185) | 800 | (221) |
Dividends from banking subsidiary | 26,743 | 17,600 | 45,000 |
Dividends from non-banking subsidiary | 4,002 | 6,000 | 0 |
Net cash provided by (used in) operating activities | 26,819 | 21,763 | 42,848 |
Net Cash Provided by (Used in) Investing Activities [Abstract] | |||
Maturities and redemptions of investment securities available-for-sale | 0 | 702 | 2,013 |
Proceeds from Sale and Maturity of Available-for-sale Securities | 0 | 4,888 | 0 |
Net (increase) decrease in due from bank subsidiary, net | 307 | 317 | 317 |
Proceeds from Sale of Premises and Equipment | 0 | 324 | 0 |
Capital contribution to banking subsidiary | 788 | 894 | 1,167 |
Capital contribution to non-banking subsidiary | (50) | (68) | (94) |
Additions to premises and equipment | (19) | (381) | (132) |
Net cash procided by (used in) investing activities | (550) | 4,888 | 937 |
Cash flows from financing activities: | |||
Proceeds from (payments to) exercise of stock options and lapsed restricted units, net | 0 | 315 | 204 |
Purchase of treasury stock | 0 | 0 | 8,950 |
Dividends paid | 24,412 | 24,003 | 31,623 |
Net cash provided by (used in) financing activities | (24,412) | (24,318) | (40,369) |
Net change in cash and cash equivalents | 1,857 | 2,333 | 3,416 |
Cash and due from banks, parent | 22,573 | 20,240 | 16,824 |
Cash and due from banks, parent | $ 24,430 | $ 22,573 | $ 20,240 |