Fair value of financial instruments (Tables)

3 Months Ended

Mar. 31, 2018

Fair Value Disclosures

Fair Value By Balance Sheet Grouping Text Block

		March 31, 2018
		Carrying
(In thousands)		amount		Level 1		Level 2		Level 3		Fair value
Financial Assets:
Cash and due from banks		$	280,077	$	280,077	$	-	$	-	$	280,077
Money market investments			6,984,009		6,974,205		9,804		-		6,984,009
Trading account debt securities, excluding
	derivatives[1]		42,308		9,251		32,007		1,050		42,308
Debt securities available-for-sale[1]			10,420,589		501,727		9,917,599		1,263		10,420,589
Debt securities held-to-maturity:
	Obligations of Puerto Rico, States
	and political subdivisions	$	90,803	$	-	$	-	$	84,726	$	84,726
	Collateralized mortgage
	obligation-federal agency		66		-		-		70		70
	Trust preferred securities		13,198		-		13,198		-		13,198
	Other		750		-		746		-		746
Total debt securities
	held-to-maturity	$	104,817	$	-	$	13,944	$	84,796	$	98,740
Equity securities:
	FHLB stock	$	63,113	$	-	$	63,113	$	-	$	63,113
	FRB stock		88,999		-		88,999		-		88,999
	Other investments		13,106		-		11,747		5,268		17,015
Total equity securities		$	165,218	$	-	$	163,859	$	5,268	$	169,127
Loans held-for-sale		$	77,701	$	-	$	-	$	78,248	$	78,248
Loans not covered under loss sharing
	agreement with the FDIC		23,480,969		-		-		21,484,858		21,484,858
Loans covered under loss sharing
	agreements with the FDIC		481,001		-		-		454,706		454,706
FDIC loss share asset			44,469		-		-		32,466		32,466
Mortgage servicing rights			166,281		-		-		166,281		166,281
Derivatives			15,496		-		15,496		-		15,496
		March 31, 2018
		Carrying
(In thousands)		amount		Level 1		Level 2		Level 3		Fair value
Financial Liabilities:
Deposits:
	Demand deposits	$	29,338,850	$	-	$	29,338,850	$	-	$	29,338,850
	Time deposits		7,795,243		-		7,603,836		-		7,603,836
Total deposits		$	37,134,093	$	-	$	36,942,686	$	-	$	36,942,686
Assets sold under agreements to
	repurchase	$	380,061	$	-	$	380,095	$	-	$	380,095
Other short-term borrowings[2]		$	186,200	$	-	$	186,200	$	-	$	186,200
Notes payable:
	FHLB advances	$	659,137	$	-	$	653,314	$	-	$	653,314
	Unsecured senior debt securities		447,394		-		464,292		-		464,292
	Junior subordinated deferrable
	interest debentures (related to
	trust preferred securities)		439,357		-		412,833		-		412,833
	Others		18,316		-		-		18,316		18,316
Total notes payable		$	1,564,204	$	-	$	1,530,439	$	18,316	$	1,548,755
Derivatives		$	13,685	$	-	$	13,685	$	-	$	13,685
Contingent consideration		$	170,970	$	-	$	-	$	170,970	$	170,970

		December 31, 2017
		Carrying
(In thousands)		amount		Level 1		Level 2		Level 3		Fair value
Financial Assets:
Cash and due from banks		$	402,857	$	402,857	$	-	$	-	$	402,857
Money market investments			5,255,119		5,245,346		9,773		-		5,255,119
Trading account debt securities, excluding
	derivatives[1]		33,746		261		32,384		1,101		33,746
Debt securities available-for-sale[1]			10,176,923		503,385		9,672,250		1,288		10,176,923
Debt securities held-to-maturity:
	Obligations of Puerto Rico, States
	and political subdivisions	$	92,754	$	-	$	-	$	83,239	$	83,239
	Collateralized mortgage
	obligation-federal agency		67		-		-		71		71
	Trust preferred securities		13,198		-		13,198		-		13,198
	Other		1,000		-		750		243		993
Total debt securities
	held-to-maturity	$	107,019	$	-	$	13,948	$	83,553	$	97,501
Equity securities:
	FHLB stock	$	57,819	$	-	$	57,819	$	-	$	57,819
	FRB stock		94,308		-		94,308		-		94,308
	Other investments		12,976		-		11,076		5,214		16,290
Total equity securities		$	165,103	$	-	$	163,203	$	5,214	$	168,417
Loans held-for-sale		$	132,395	$	-	$	-	$	134,839	$	134,839
Loans not covered under loss sharing
	agreement with the FDIC		23,702,612		-		-		21,883,003		21,883,003
Loans covered under loss sharing
	agreements with the FDIC		484,030		-		-		465,893		465,893
FDIC loss share asset			45,192		-		-		33,323		33,323
Mortgage servicing rights			168,031		-		-		168,031		168,031
Derivatives			16,719		-		16,719		-		16,719
		December 31, 2017
		Carrying
(In thousands)		amount		Level 1		Level 2		Level 3		Fair value
Financial Liabilities:
Deposits:
	Demand deposits	$	27,938,630	$	-	$	27,938,630	$	-	$	27,938,630
	Time deposits		7,514,878		-		7,381,232		-		7,381,232
Total deposits		$	35,453,508	$	-	$	35,319,862	$	-	$	35,319,862
Assets sold under agreements to
	repurchase	$	390,921	$	-	$	390,752	$	-	$	390,752
Other short-term borrowings[2]		$	96,208	$	-	$	96,208	$	-	$	96,208
Notes payable:
	FHLB advances	$	631,490	$	-	$	628,839	$	-	$	628,839
	Unsecured senior debt		446,873		-		463,554		-		463,554
	Junior subordinated deferrable
	interest debentures (related to
	trust preferred securities)		439,351		-		406,883		-		406,883
	Others		18,642		-		-		18,642		18,642
Total notes payable		$	1,536,356	$	-	$	1,499,276	$	18,642	$	1,517,918
Derivatives		$	14,431	$	-	$	14,431	$	-	$	14,431
Contingent consideration		$	164,858	$	-	$	-	$	164,858	$	164,858