Fair value of financial instruments (Tables)

12 Months Ended

Dec. 31, 2014

Fair Value By Balance Sheet Grouping Text Block

		December 31, 2014
		Carrying
(In thousands)		amount		Level 1		Level 2		Level 3		Fair value
Financial Assets:
Cash and due from banks		$	381,095	$	381,095	$	-	$	-	$	381,095
Money market investments			1,822,386		1,671,477		150,909		-		1,822,386
Trading account securities, excluding
	derivatives[1]		138,527		-		129,360		9,167		138,527
Investment securities available-for-sale[1]			5,315,159		323		5,313,511		1,325		5,315,159
Investment securities held-to-maturity:
	Obligations of Puerto Rico, States
	and political subdivisions		101,573		-		-		92,597		92,597
	Collateralized mortgage
	obligation-federal agency		97		-		-		102		102
	Other		1,500		-		1,500		-		1,500
Total investment securities
	held-to-maturity	$	103,170	$	-	$	1,500	$	92,699	$	94,199
Other investment securities:
	FHLB stock	$	66,773	$	-	$	66,773	$	-	$	66,773
	FRB stock		80,025		-		80,025		-		80,025
	Trust preferred securities		13,197		-		12,197		1,000		13,197
	Other investments		1,911		-		-		5,028		5,028
Total other investment securities		$	161,906	$	-	$	158,995	$	6,028	$	165,023
Loans held-for-sale		$	106,104	$	-	$	27,074	$	87,862	$	114,936
Loans not covered under loss sharing
	agreement with the FDIC		18,884,732		-		-		18,079,609		18,079,609
Loans covered under loss sharing
	agreements with the FDIC		2,460,589		-		-		2,947,909		2,947,909
FDIC loss share asset			542,454		-		-		481,420		481,420
Mortgage servicing rights			148,694		-		-		148,694		148,694
Derivatives			25,362		-		25,362		-		25,362
		December 31, 2014
		Carrying
(In thousands)		amount		Level 1		Level 2		Level 3		Fair value
Financial Liabilities:
Deposits:
	Demand deposits	$	17,333,090	$	-	$	17,333,090	$	-	$	17,333,090
	Time deposits		7,474,445		-		7,512,683		-		7,512,683
Total deposits		$	24,807,535	$	-	$	24,845,773	$	-	$	24,845,773
Assets sold under agreements to
	repurchase:
	Securities sold under agreements
	to repurchase	$	1,271,657	$	-	$	1,269,398	$	-	$	1,269,398
Total assets sold under agreements to
	repurchase	$	1,271,657	$	-	$	1,269,398	$	-	$	1,269,398
Other short-term borrowings[2]		$	21,200	$	-	$	20,200	$	1,000	$	21,200
Notes payable:
	FHLB advances		802,198		-		814,877		-		814,877
	Unsecured senior debt securities		450,000		-		460,530		-		460,530
	Junior subordinated deferrable
	interest debentures (related to
	trust preferred securities)		439,800		-		379,400		-		379,400
	Junior subordinated deferrable
	interest debentures (Troubled
	Others		19,830		-		-		19,830		19,830
Total notes payable		$	1,711,828	$	-	$	1,654,807	$	19,830	$	1,674,637
Derivatives		$	23,032	$	-	$	23,032	$	-	$	23,032
Contingent consideration		$	133,634	$	-	$	-	$	133,634	$	133,634
(In thousands)			Notional amount		Level 1		Level 2		Level 3		Fair value
Commitments to extend credit		$	7,135,352	$	-	$	-	$	1,716	$	1,716
Letters of credit			49,182		-		-		486		486

		December 31, 2013
		Carrying
(In thousands)		amount		Level 1		Level 2		Level 3		Fair value
Financial Assets:
Cash and due from banks		$	423,211	$	423,211	$	-	$	-	$	423,211
Money market investments			858,453		677,033		181,420		-		858,453
Trading account securities, excluding
	derivatives[1]		339,660		-		326,509		13,151		339,660
Investment securities available-for-sale[1]			5,294,800		412		5,287,865		6,523		5,294,800
Investment securities held-to-maturity:
	Obligations of Puerto Rico, States
	and political subdivisions		113,881		-		-		94,712		94,712
	Collateralized mortgage
	obligation-federal agency		115		-		-		122		122
	Other		26,500		-		1,500		24,354		25,854
Total investment securities
	held-to-maturity	$	140,496	$	-	$	1,500	$	119,188	$	120,688
Other investment securities:
	FHLB stock	$	85,245	$	-	$	85,245	$	-	$	85,245
	FRB stock		80,385		-		80,385		-		80,385
	Trust preferred securities		14,197		-		13,197		1,000		14,197
	Other investments		1,925		-		-		4,699		4,699
Total other investment securities		$	181,752	$	-	$	178,827	$	5,699	$	184,526
Loans held-for-sale		$	110,426	$	-	$	3,155	$	109,405	$	112,560
Loans not covered under loss sharing
	agreement with the FDIC		21,073,403		-		-		19,070,337		19,070,337
Loans covered under loss sharing
	agreements with the FDIC		2,882,335		-		-		3,404,128		3,404,128
FDIC loss share asset			948,608		-		-		837,131		837,131
Mortgage servicing rights			161,099		-		-		161,099		161,099
Derivatives			34,793		-		34,793		-		34,793
		December 31, 2013
		Carrying
(In thousands)		amount		Level 1		Level 2		Level 3		Fair value
Financial Liabilities:
Deposits:
	Demand deposits	$	18,399,793	$	-	$	18,399,793	$	-	$	18,399,793
	Time deposits		8,311,352		-		8,367,410		-		8,367,410
Total deposits		$	26,711,145	$	-	$	26,767,203	$	-	$	26,767,203
Assets sold under agreements to
	repurchase:
	Securities sold under agreements
	to repurchase	$	1,021,102	$	-	$	1,025,628	$	-	$	1,025,628
	Structured repurchase agreements		638,190		-		694,422		-		694,422
Total assets sold under agreements to
	repurchase	$	1,659,292	$	-	$	1,720,050	$	-	$	1,720,050
Other short-term borrowings[2]		$	401,200	$	-	$	401,200	$	-	$	401,200
Notes payable:
	FHLB advances		589,229		-		604,976		-		604,976
	Medium-term notes		689		-		-		716		716
	Junior subordinated deferrable
	interest debentures (related to
	trust preferred securities)		439,800		-		348,222		-		348,222
	Junior subordinated deferrable
	interest debentures (Troubled
	Asset Relief Program)		531,540		-		-		1,006,638		1,006,638
	Others		23,496		-		-		23,496		23,496
Total notes payable		$	1,584,754	$	-	$	953,198	$	1,030,850	$	1,984,048
Derivatives		$	32,378	$	-	$	32,378	$	-	$	32,378
Contingent consideration		$	128,299	$	-	$	-	$	128,299	$	128,299
(In thousands)			Notional amount		Level 1		Level 2		Level 3		Fair value
Commitments to extend credit		$	7,490,927	$	-	$	-	$	2,571	$	2,571
Letters of credit			82,007		-		-		901		901