INTEREST AND DIVIDEND ON INVESTMENTS

12 Months Ended

Dec. 31, 2017

Interest and Dividend on Investments [Abstract]

Interest and Dividend on Investments [Text Block]

NOTE 8 – INTEREST AND DIVIDEND INCOME ON INVESTMENTS AND MONEY MARKET INSTRUMENTS

The following provides information about interest on investments and FHLB dividend income:

		Year Ended December 31,
		2017		2016		2015
(In thousands)
Mortgage-backed securities:
Taxable	$	9,656	$	11,246	$	13,520
Exempt		24,575		20,921		23,779
		34,231		32,167		37,299
PR government obligations, U.S. Treasury securities, and U.S.
government agencies:
Taxable		2,091		4,131		2,628
Exempt		12,690		13,145		13,848
		14,781		17,276		16,476
Other investment securities (including FHLB dividends)
Taxable		2,113		1,462		1,075
Total interest income on investment securities		51,125		50,905		54,850
Interest on money market instruments:
Taxable		4,609		2,669		1,490
Exempt		5		696		658
Total interest income on money market instruments		4,614		3,365		2,148
Total interest and dividend income on investments and money
market instruments	$	55,739	$	54,270	$	56,998

The following table summarizes the components of interest and dividend income on investments:
		Year Ended December 31,
		2017	2016		2015
(In thousands)
Interest income on investment securities and money
market investments	$	53,634	$	52,816	$	55,923
Dividends on FHLB stock		2,105		1,454		1,075
Total interest income and dividends on investments	$	55,739	$	54,270	$	56,998