INVESTMENT SECURITIES (Tables)

3 Months Ended

Mar. 31, 2019

Other Than Temporary Impairment Credit Losses Recognized In Earnings [Line Items]

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]

The table below presents qualitative information for significant assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as of March 31, 2019 and December 31, 2018:
	March 31, 2019
(In thousands)	Fair Value		Valuation Technique	Unobservable Input	Range
Investment securities available-for-sale:
Private label MBS	$	13,351	Discounted cash flows	Discount rate	14.1%
				Prepayment rate	3.3% - 17.0% (Weighted Average 9.2%)
				Projected Cumulative Loss Rate	0.00% - 6.6% (Weighted Average 3.0%)
Puerto Rico government obligations		2,855	Discounted cash flows	Discount rate	6.56%
				Prepayment rate	3.00%

	December 31, 2018
(In thousands)	Fair Value		Valuation Technique	Unobservable Input	Range
Investment securities available-for-sale:
Private label MBS	$	13,914	Discounted cash flows	Discount rate	14.5%
				Prepayment rate	3.3% - 20.9% (Weighted Average 11.4%)
				Projected Cumulative Loss Rate	0.00% - 6.8% (Weighted Average 3%)
Puerto Rico government obligations		2,824	Discounted cash flows	Discount rate	6.28%
				Prepayment rate	3.00%

Available for sale Securities [Member]

Other Than Temporary Impairment Credit Losses Recognized In Earnings [Line Items]

Investments Classified by Contractual Maturity Date [Table Text Block]

The amortized cost, non-credit loss component of OTTI recorded in OCI, gross unrealized gains and losses recorded in OCI, estimated fair value, and weighted-average yield of investment securities available for sale by contractual maturities as of March 31, 2019 and December 31, 2018 were as follows:

	March 31, 2019
	Amortized cost		Noncredit Loss Component of OTTI Recorded in OCI		Gross				Fair value
					Unrealized						Weighted-
					gains		losses				average yield %
(Dollars in thousands)
U.S. Treasury securities:
Due within one year	$	7,496	$	-	$	-	$	11	$	7,485	1.29
U.S. government-sponsored
agencies obligations:
Due within one year		191,521		-		-		1,074		190,447	1.28
After 1 to 5 years		174,953		-		327		1,457		173,823	2.00
After 5 to 10 years		195,357		-		719		166		195,910	2.95
After 10 years		32,976		-		-		217		32,759	2.70
Puerto Rico government
obligations:
After 5 to 10 years		4,000		-		125		-		4,125	5.12
After 10 years		4,248		-		-		1,393		2,855	6.97
United States and Puerto
Rico government
obligations		610,551		-		1,171		4,318		607,404	2.16
Mortgage-backed securities ("MBS"):
Freddie Mac ("FHLMC") certificates:
After 5 to 10 years		88,302		-		136		1,259		87,179	2.09
After 10 years		257,466		-		1,324		3,403		255,387	2.52
		345,768		-		1,460		4,662		342,566	2.41
Ginnie Mae ("GNMA") certificates:
Due within one year		4		-		-		-		4	3.93
After 1 to 5 years		156		-		2		-		158	3.67
After 5 to 10 years		57,953		-		311		248		58,016	2.88
After 10 years		114,682		-		3,565		438		117,809	3.93
		172,795		-		3,878		686		175,987	3.58
Fannie Mae ("FNMA") certificates:
Due within one year		14		-		1		-		15	4.03
After 1 to 5 years		19,793		-		253		64		19,982	2.79
After 5 to 10 years		156,855		-		466		2,214		155,107	2.12
After 10 years		528,284		-		4,373		6,745		525,912	2.67
		704,946		-		5,093		9,023		701,016	2.55
Collateralized mortgage obligations issued
or guaranteed by the FHLMC
and GNMA
After 1 to 5 years		5,871		-		1		9		5,863	3.14
After 10 years		58,183		-		371		11		58,543	3.22
		64,054		-		372		20		64,406	3.21
Other mortgage pass-through
trust certificates:
After 10 years		18,768		5,417		-		-		13,351	4.68
Total MBS		1,306,331		5,417		10,803		14,391		1,297,326	2.71
Other
After 1 to 5 years		500		-		-		-		500	2.96
Total investment securities
available for sale	$	1,917,382	$	5,417	$	11,974	$	18,709	$	1,905,230	2.54

		December 31, 2018
		Amortized cost		Noncredit Loss Component of OTTI Recorded in OCI		Gross				Fair value
						Unrealized						Weighted-
						gains		losses				average yield%
(Dollars in thousands)
U.S. Treasury securities:
	Due within one year	$	7,489	$	-	$	-	$	33	$	7,456	1.29
U.S. government-sponsored
agencies obligations:
	Due within one year		191,531		-		-		1,908		189,623	1.28
	After 1 to 5 years		184,851		-		203		2,249		182,805	2.07
	After 5 to 10 years		195,750		-		286		1,674		194,362	2.95
	After 10 years		34,627		-		-		217		34,410	2.68
Puerto Rico government
obligations:
	After 5 to 10 years		4,000		-		128		-		4,128	5.12
	After 10 years		4,185		-		-		1,361		2,824	6.97
United States and Puerto
Rico government
obligations			622,433		-		617		7,442		615,608	2.18
MBS:
FHLMC certificates:
	After 5 to 10 years		92,149		-		31		1,850		90,330	2.09
	After 10 years		265,624		-		523		6,699		259,448	2.52
			357,773		-		554		8,549		349,778	2.41
GNMA certificates:
	After 1 to 5 years		176		-		3		-		179	3.43
	After 5 to 10 years		61,604		-		408		503		61,509	2.88
	After 10 years		118,898		-		2,938		747		121,089	3.92
			180,678		-		3,349		1,250		182,777	3.56
FNMA certificates:
	Due within one year		119		-		2		-		121	2.20
	After 1 to 5 years		19,798		-		50		122		19,726	2.79
	After 5 to 10 years		165,067		-		2		3,822		161,247	2.13
	After 10 years		543,972		-		2,211		13,233		532,950	2.67
			728,956		-		2,265		17,177		714,044	2.55
Collateralized mortgage obligations issued
	or guaranteed by the
	FHLMC and GNMA:
	After 1 to 5 years		6,530		-		1		18		6,513	3.15
	After 10 years		59,020		-		474		60		59,434	3.22
			65,550		-		475		78		65,947	3.22
Other mortgage pass-through
trust certificates:
	After 10 years		19,340		5,426		-		-		13,914	4.89
Total MBS			1,352,297		5,426		6,643		27,054		1,326,460	2.71
Other
	After 1 to 5 years		500		-		-		-		500	2.96
Total investment securities
	available for sale	$	1,975,230	$	5,426	$	7,260	$	34,496	$	1,942,568	2.55

Schedule Of Unrealized Loss On Investments Table [Text Block]

The following tables show the Corporation’s available-for-sale investments’ fair value and gross unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, as of March 31, 2019 and December 31, 2018. The tables also include debt securities for which an OTTI was recognized and only the amount related to a credit loss was recognized in earnings. For unrealized losses for which OTTI was recognized, the related credit loss was charged against the amortized cost basis of the debt security.

	As of March 31, 2019
	Less than 12 months				12 months or more				Total
			Unrealized				Unrealized				Unrealized
	Fair Value		Losses		Fair Value		Losses		Fair Value		Losses
(In thousands)
Debt securities:
Puerto Rico-government obligations	$	-	$	-	$	2,855	$	1,393	$	2,855	$	1,393
U.S. Treasury and U.S. government
agenciesʼ obligations		15,096		81		389,931		2,844		405,027		2,925
MBS:
FNMA		333		6		458,661		9,017		458,994		9,023
FHLMC		1,251		2		247,769		4,660		249,020		4,662
GNMA		-		-		55,106		686		55,106		686
Collateralized mortgage obligations
issued or guaranteed by
the FHLMC and GNMA		18,629		20		-		-		18,629		20
Other mortgage pass-through
trust certificates		-		-		13,351		5,417		13,351		5,417
	$	35,309	$	109	$	1,167,673	$	24,017	$	1,202,982	$	24,126
	As of December 31, 2018
	Less than 12 months				12 months or more				Total
			Unrealized				Unrealized				Unrealized
	Fair Value		Losses		Fair Value		Losses		Fair Value		Losses
(In thousands)
Debt securities:
Puerto Rico-government obligations	$	-	$	-	$	2,824	$	1,361	$	2,824	$	1,361
U.S. Treasury and U.S. government
agenciesʼ obligations		16,669		77		468,094		6,004		484,763		6,081
MBS:
FNMA		25,079		129		521,871		17,048		546,950		17,177
FHLMC		3,382		32		263,798		8,517		267,180		8,549
GNMA		3,364		15		57,535		1,235		60,899		1,250
Collateralized mortgage
obligations issued or
guaranteed by the FHLMC and GNMA		16,065		78		-		-		16,065		78
Other mortgage pass-through
trust certificates		-		-		13,914		5,426		13,914		5,426
	$	64,559	$	331	$	1,328,036	$	39,591	$	1,392,595	$	39,922

Other Than Temporary Impairment Credit Losses Recognized In Earnings Table [Text Block]

The following tables summarize the roll-forward of credit losses on debt securities held by the Corporation for which a portion of an OTTI was also recognized in OCI:
	Cumulative OTTI credit losses recognized in earnings on securities still held
			Credit impairments
	December 31,		recognized in earnings on		March 31,
	2018		securities that have been		2019
	Balance		previously impaired		Balance
(In thousands)
Available-for-sale securities
Private label MBS	$	6,842	$	-	$	6,842

	Cumulative OTTI credit losses recognized in earnings on securities still held
			Credit impairments
	December 31,		recognized in earnings on		March 31,
	2017		securities that have been		2018
	Balance		previously impaired		Balance
(In thousands)
Available for sale securities
Private label MBS	$	6,792	$	-	$	6,792

Available for sale Securities [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member]

Other Than Temporary Impairment Credit Losses Recognized In Earnings [Line Items]

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]

Significant assumptions in the valuation of the private label MBS were as follows:

	As of		As of
	March 31, 2019		December 31, 2018
	Weighted		Weighted
	Average	Range	Average	Range
Discount rate	14.1%	14.1%	14.5%	14.5%
Prepayment rate	9.2%	3.3% - 17.0%	11.4%	3.3% - 20.9%
Projected Cumulative Loss Rate	3%	0% - 6.6%	3%	0% - 6.8%

Held-to-maturity Securities [Member]

Other Than Temporary Impairment Credit Losses Recognized In Earnings [Line Items]

Investments Classified by Contractual Maturity Date [Table Text Block]

The amortized cost, gross unrecognized gains and losses, estimated fair value, weighted-average yield and contractual maturities of investment securities held to maturity as of March 31, 2019 and December 31, 2018 were as follows:

		March 31, 2019
		Amortized cost						Fair value
				Gross Unrecognized
										Weighted-
				gains		losses				average yield%
Puerto Rico Municipal Bonds:
	After 1 to 5 years	$	5,958	$	-	$	434	$	5,524	5.17
	After 5 to 10 years		53,016		-		5,693		47,323	6.24
	After 10 years		85,699		-		14,640		71,059	6.21
Total investment securities
	held to maturity	$	144,673	$	-	$	20,767	$	123,906	6.18

		December 31, 2018
		Amortized cost						Fair value
				Gross Unrecognized
										Weighted
				gains		losses				average-yield%
Puerto Rico Municipal Bonds:
	After 1 to 5 years	$	6,100	$	-	$	435	$	5,665	4.79
	After 5 to 10 years		53,016		-		5,360		47,656	6.00
	After 10 years		85,699		-		13,362		72,337	5.86
Total investment securities
	held to maturity	$	144,815	$	-	$	19,157	$	125,658	5.86

Schedule Of Unrealized Loss On Investments Table [Text Block]

The following tables show the Corporation’s held-to-maturity investments’ fair value and gross unrecognized losses, aggregated by investment category and length of time that individual securities had been in a continuous unrecognized loss position, as of March 31, 2019 and December 31, 2018:

	As of March 31, 2019
	Less than 12 months				12 months or more				Total
			Unrecognized				Unrecognized				Unrecognized
	Fair Value		Losses		Fair Value		Losses		Fair Value		Losses
		(In thousands)
Debt securities:
Puerto Rico Municipal Bonds	$	-	$	-	$	123,906	$	20,767	$	123,906	$	20,767
	As of December 31, 2018
	Less than 12 months				12 months or more				Total
			Unrecognized				Unrecognized				Unrecognized
	Fair Value		Losses		Fair Value		Losses		Fair Value		Losses
		(In thousands)
Debt securities:
Puerto Rico Municipal Bonds	$	-	$	-	$	125,658	$	19,157	$	125,658	$	19,157