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 ANDOTHER 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 $16.5 million at December 31, 2017 and 2016, respectively, include prepaid municipal, property 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 acquired 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 $1.4million and $1.9 million, respectively.

Other repossessed 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.