Fair value of financial instruments (Tables)

6 Months Ended

Jun. 30, 2017

Fair Value Disclosures

Fair Value By Balance Sheet Grouping Text Block

		June 30, 2017
		Carrying
(In thousands)		amount		Level 1		Level 2		Level 3		Fair value
Financial Assets:
Cash and due from banks		$	405,688	$	405,688	$	-	$	-	$	405,688
Money market investments			4,219,630		4,210,862		8,768		-		4,219,630
Trading account securities, excluding
	derivatives[1]		50,291		1		44,541		5,749		50,291
Investment securities available-for-sale[1]			9,409,402		-		9,408,113		1,289		9,409,402
Investment securities held-to-maturity:
	Obligations of Puerto Rico, States
	and political subdivisions	$	94,216	$	-	$	-	$	79,538	$	79,538
	Collateralized mortgage
	obligation-federal agency		70		-		-		74		74
	Other		2,000		-		1,741		231		1,972
Total investment securities
	held-to-maturity	$	96,286	$	-	$	1,741	$	79,843	$	81,584
Other investment securities:
	FHLB stock	$	60,892	$	-	$	60,892	$	-	$	60,892
	FRB stock		94,172		-		94,172		-		94,172
	Trust preferred securities		13,198		-		13,198		-		13,198
	Other investments		1,915		-		-		5,314		5,314
Total other investment securities		$	170,177	$	-	$	168,262	$	5,314	$	173,576
Loans held-for-sale		$	69,797	$	-	$	-	$	71,277	$	71,277
Loans not covered under loss sharing
	agreement with the FDIC		22,409,065		-		-		20,634,584		20,634,584
Loans covered under loss sharing
	agreements with the FDIC		505,533		-		-		463,318		463,318
FDIC loss share asset			52,583		-		-		48,292		48,292
Mortgage servicing rights			188,728		-		-		188,728		188,728
Derivatives			13,028		-		13,028		-		13,028
		June 30, 2017
		Carrying
(In thousands)		amount		Level 1		Level 2		Level 3		Fair value
Financial Liabilities:
Deposits:
	Demand deposits	$	25,565,843	$	-	$	25,565,843	$	-	$	25,565,843
	Time deposits		7,556,190		-		7,448,933		-		7,448,933
Total deposits		$	33,122,033	$	-	$	33,014,776	$	-	$	33,014,776
Assets sold under agreements to
	repurchase	$	406,385	$	-	$	406,356	$	-	$	406,356
Other short-term borrowings[2]		$	1,200	$	-	$	1,200	$	-	$	1,200
Notes payable:
	FHLB advances	$	658,113	$	-	$	658,756	$	-	$	658,756
	Unsecured senior debt securities		445,831		-		473,427		-		473,427
	Junior subordinated deferrable
	interest debentures (related to
	trust preferred securities)		439,337		-		406,735		-		406,735
	Others		17,553		-		-		17,553		17,553
Total notes payable		$	1,560,834	$	-	$	1,538,918	$	17,553	$	1,556,471
Derivatives		$	11,486	$	-	$	11,486	$	-	$	11,486
Contingent consideration		$	163,668	$	-	$	-	$	163,668	$	163,668

		December 31, 2016
		Carrying
(In thousands)		amount		Level 1		Level 2		Level 3		Fair value
Financial Assets:
Cash and due from banks		$	362,394	$	362,394	$	-	$	-	$	362,394
Money market investments			2,890,217		2,854,777		35,440		-		2,890,217
Trading account securities, excluding
	derivatives[1]		59,796		-		53,118		6,678		59,796
Investment securities available-for-sale[1]			8,209,806		-		8,208,414		1,392		8,209,806
Investment securities held-to-maturity:
	Obligations of Puerto Rico, States
	and political subdivisions	$	96,027	$	-	$	-	$	73,540	$	73,540
	Collateralized mortgage
	obligation-federal agency		74		-		-		78		78
	Other		2,000		-		1,738		220		1,958
Total investment securities
	held-to-maturity	$	98,101	$	-	$	1,738	$	73,838	$	75,576
Other investment securities:
	FHLB stock	$	58,033	$	-	$	58,033	$	-	$	58,033
	FRB stock		94,672		-		94,672		-		94,672
	Trust preferred securities		13,198		-		13,198		-		13,198
	Other investments		1,915		-		-		4,987		4,987
Total other investment securities		$	167,818	$	-	$	165,903	$	4,987	$	170,890
Loans held-for-sale		$	88,821	$	-	$	504	$	89,509	$	90,013
Loans not covered under loss sharing
	agreement with the FDIC		22,263,446		-		-		20,578,904		20,578,904
Loans covered under loss sharing
	agreements with the FDIC		542,528		-		-		515,808		515,808
FDIC loss share asset			69,334		-		-		63,187		63,187
Mortgage servicing rights			196,889		-		-		196,889		196,889
Derivatives			14,094		-		14,094		-		14,094
		December 31, 2016
		Carrying
(In thousands)		amount		Level 1		Level 2		Level 3		Fair value
Financial Liabilities:
Deposits:
	Demand deposits	$	22,786,682	$	-	$	22,786,682	$	-	$	22,786,682
	Time deposits		7,709,542		-		7,708,724		-		7,708,724
Total deposits		$	30,496,224	$	-	$	30,495,406	$	-	$	30,495,406
Assets sold under agreements to
	repurchase	$	479,425	$	-	$	479,439	$	-	$	479,439
Other short-term borrowings[2]		$	1,200	$	-	$	1,200	$	-	$	1,200
Notes payable:
	FHLB advances	$	672,670	$	-	$	671,872	$	-	$	671,872
	Unsecured senior debt		444,788		-		466,263		-		466,263
	Junior subordinated deferrable
	interest debentures (related to
	trust preferred securities)		439,323		-		399,370		-		399,370
	Others		18,071		-		-		18,071		18,071
Total notes payable		$	1,574,852	$	-	$	1,537,505	$	18,071	$	1,555,576
Derivatives		$	12,842	$	-	$	12,842	$	-	$	12,842
Contingent consideration		$	153,158	$	-	$	-	$	153,158	$	153,158