Supplemental disclosure on the consolidated statements of cash flows

6 Months Ended

Jun. 30, 2011

Supplemental disclosure on the consolidated statements of cash flows

Note 29 – Supplemental disclosure on the consolidated statements of cash flows

Additional disclosures on cash flow information and non-cash activities for the six months ended June 30, 2011 and June 30, 2010 are listed in the following table:

(In thousands)	June 30, 2011		June 30, 2010
Non-cash activities:
Loans transferred to other real estate	$	96,481	$	77,919
Loans transferred to other property		14,299		19,968
Total loans transferred to foreclosed assets		110,780		97,887
Transfers from loans held-in-portfolio to loans held-for-sale		18,061		23,159
Transfers from loans held-for-sale to loans held-in-portfolio		26,873		6,292
Loans securitized into investment securities [1]		594,117		411,063
Recognition of mortgage servicing rights on securitizations or asset transfers		11,292		7,809
Conversion of preferred stock to common stock:
Preferred stock converted		—		(1,150,000	)
Common stock issued		—		1,341,667

[1] Includes loans securitized into trading securities and subsequently sold before quarter end.

For the six months ended June 30, 2010 the changes in operating assets and liabilities included in the reconciliation of net income to net cash provided by operating activities, as well as the changes in assets and liabilities presented in the investing and financing sections are net of the effect of the assets acquired and liabilities assumed from the Westernbank FDIC-assisted transaction. Refer to Note 3 to the consolidated financial statements for the composition and balances of the assets and liabilities recorded at fair value by the Corporation on April 30, 2010.

The cash received in the transaction, which amounted to $261 million, is presented in the investing activities section of the Consolidated Statement of Cash Flows as “Cash received from acquisition”.