Related party transactions with affiliated company (Tables)

6 Months Ended

Jun. 30, 2011

Impact on the Results of Operations of Transactions Between the Corporation and EVERTEC

The following tables present the impact of transactions and service payments between the Corporation and EVERTEC (as an affiliate) and their impact on the results of operations for the quarter and six months ended June 30, 2011. Items that represent expenses to the Corporation are presented with parenthesis. For consolidation purposes, the Corporation eliminates 49% of the income (expense) between EVERTEC and the Corporation from the corresponding categories in the consolidated statements of operations and the net effect of all items at 49% is eliminated against other operating income, which is the category used to record the Corporation’s share of income (loss) as part of its equity method investment in EVERTEC. The 51% majority interest in the table that follows represents the share of transactions with the affiliate that is not eliminated in the consolidation of the Corporation’s results of operations.

	Quarters ended						Six months ended
	June 30, 2011						June 30, 2011
(In thousands)	100%			51% majority interest			100%			51% majority interest			Category
Interest income on loan to EVERTEC	$	881		$	450		$	1,937		$	988		Interest income
Interest income on investment securities issued by EVERTEC		962			491			1,925			982		Interest income
Interest expense on deposits		(107	)		(55	)		(402	)		(205	)	Interest expense
ATH and credit cards interchange income from services to EVERTEC		7,279			3,712			14,072			7,177		Other service fees
Processing fees on services provided by EVERTEC		(37,122	)		(18,932	)		(75,800	)		(38,658	)	Professional fees
Rental income charged to EVERTEC		1,797			917			3,604			1,838		Net occupancy
Transition services provided to EVERTEC		297			152			666			340		Other operating expenses

Financial Condition Accounts Outstanding with EVERTEC

The Corporation had the following financial condition accounts outstanding with EVERTEC at June 30, 2011 and December 31, 2010. The 51% majority interest represents the share of transactions with the affiliate that is not eliminated in the consolidation of the Corporation’s statement of condition.

	At June 30, 2011				At December 31, 2010
(In thousands)	100%		51% majority interest		100%		51% majority interest
Loans	$	53,202	$	27,133	$	58,126	$	29,644
Investment securities		35,000		17,850		35,000		17,850
Deposits		32,635		16,644		38,761		19,768
Accounts receivables (Other assets)		3,788		1,932		3,922		2,000
Accounts payable (Other liabilities)		17,083		8,712		17,416		8,882