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Other Real Estate Owned (Tables)
12 Months Ended
Dec. 31, 2019
Other Real Estate [Abstract]  
Other Real Estate Owned Roll Forward [Table Text Block]

 

 

For the year ended December 31, 2019

 

 

Non-covered

 

Non-covered

 

 

 

 

OREO

 

OREO

 

 

(In thousands)

 

Commercial/Construction

 

Mortgage

 

Total

Balance at beginning of period

$

21,794

$

114,911

$

136,705

Write-downs in value

 

(1,584)

 

(4,541)

 

(6,125)

Additions

 

6,801

 

62,630

 

69,431

Sales

 

(9,892)

 

(67,137)

 

(77,029)

Other adjustments

 

(160)

 

(750)

 

(910)

Ending balance

$

16,959

$

105,113

$

122,072

 

 

 

For the year ended December 31, 2018

 

 

 

Non-covered

 

Non-covered

 

Covered

 

 

 

 

 

OREO

 

OREO

 

OREO

 

 

(In thousands)

 

Commercial/Construction

 

Mortgage

 

Mortgage

 

Total

Balance at beginning of period

$

21,411

$

147,849

$

19,595

$

188,855

Write-downs in value

 

(2,974)

 

(10,380)

 

(287)

 

(13,641)

Additions

 

10,688

 

41,167

 

-

 

51,855

Sales

 

(8,108)

 

(78,330)

 

(3,282)

 

(89,720)

Other adjustments

 

777

 

(728)

 

(693)

 

(644)

Transfer to non-covered status[1]

 

-

 

15,333

 

(15,333)

 

-

Ending balance

$

21,794

$

114,911

$

-

$

136,705

[1]

Represents the reclassification of OREOs to the non-covered category, pursuant to the Termination Agreement of all shared-loss agreements with the Federal Deposit Insurance Corporation related to loans acquired from Westernbank, that was completed on May 22, 2018.

 

 

 

For the year ended December 31, 2017

 

 

 

Non-covered

 

Non-covered

 

Covered

 

 

 

 

 

OREO

 

OREO

 

OREO

 

 

(In thousands)

 

Commercial/ Construction

 

Mortgage

 

Mortgage

 

Total

Balance at beginning of period

$

20,401

$

160,044

$

32,128

$

212,573

Write-downs in value[1]

 

(5,011)

 

(16,876)

 

(3,311)

 

(25,198)

Additions

 

8,918

 

70,763

 

9,912

 

89,593

Sales

 

(2,765)

 

(68,145)

 

(16,273)

 

(87,183)

Other adjustments

 

(132)

 

2,063

 

(2,861)

 

(930)

Ending balance

$

21,411

$

147,849

$

19,595

$

188,855

[1]

Includes $2.7 million related to the damages from Hurricane Maria, of which $1.3 million were for commercial and $1.4 million for residential.