INTEREST AND DIVIDEND ON INVESTMENTS

12 Months Ended

Dec. 31, 2016

Interest and Dividend on Investments [Abstract]

Interest and Dividend on Investments [Text Block]

NOTE 7 – INTEREST AND DIVIDEND ON INVESTMENTS AND MONEY MARKET INSTRUMENTS

The following provides information about interest on investments and FHLB dividend income:

		Year Ended December 31,
		2016		2015		2014
(In thousands)
Mortgage-backed securities:
Taxable	$	11,246	$	13,520	$	16,303
Exempt		20,921		23,779		28,606
		32,167		37,299		44,909
PR government obligations, U.S. Treasury securities, and U.S.
government agencies:
Taxable		4,131		2,628		1,357
Exempt		13,145		13,848		12,937
		17,276		16,476		14,294
Other investment securities (including FHLB dividends)
Taxable		1,462		1,075		1,169
Total interest income on investment securities		50,905		54,850		60,372
Interest on money market instruments:
Taxable		2,669		1,490		1,734
Exempt		696		658		158
Total interest income on money market instruments		3,365		2,148		1,892
Total interest and dividend income on investments and money
market instruments	$	54,270	$	56,998	$	62,264

The following table summarizes the components of interest and dividend income on investments:
		Year Ended December 31,
		2016	2015		2014
(In thousands)
Interest income on investment securities and money
market investments	$	52,816	$	55,923	$	61,095
Dividends on FHLB stock		1,454		1,075		1,169
Total interest income and dividends on investments	$	54,270	$	56,998	$	62,264