Fair value of financial instruments (Tables)

12 Months Ended

Dec. 31, 2012

Fair Value By Balance Sheet Grouping Text Block

		December 31, 2012											December 31, 2011
		Carrying											Carrying
(In thousands)		amount		Level 1		Level 2		Level 3		Fair value			amount	Fair value
Financial Assets:
Cash and due from banks		$	439,363	$	439,363	$	-	$	-	$	439,363	$	535,282	$	535,282
Money market investments			1,085,580		839,007		246,573		-		1,085,580		1,376,174		1,376,174
Trading account securities, excluding
	derivatives[1]		314,515		-		297,959		16,556		314,515		436,330		436,330
Investment securities available-for-sale[1]			5,084,201		3,827		5,073,304		7,070		5,084,201		5,009,823		5,009,823
Investment securities held-to-maturity:
	Obligations of Puerto Rico, States
	and political subdivisions		116,177		-		-		117,558		117,558		98,973		98,770
	Collateralized mortgage
	obligation-federal agency		140		-		-		144		144		160		151
	Other		26,500		-		1,500		25,031		26,531		26,250		26,333
Total investment securities
	held-to-maturity	$	142,817	$	-	$	1,500	$	142,733	$	144,233	$	125,383	$	125,254
Other investment securities:
	FHLB stock	$	89,451	$	-	$	89,451	$	-	$	89,451	$	84,133	$	84,133
	FRB stock		79,878		-		79,878		-		79,878		79,648		79,648
	Trust preferred securities		14,197		-		13,197		1,000		14,197		14,197		14,197
	Other investments		1,917		-		-		3,975		3,975		1,902		3,605
Total other investment securities		$	185,443	$	-	$	182,526	$	4,975	$	187,501	$	179,880	$	181,583
Loans held-for-sale		$	354,468	$	-	$	4,779	$	376,582	$	381,361	$	363,093	$	390,783
Loans not covered under loss sharing
	agreement with the FDIC		20,361,491		-		-		17,424,038		17,424,038		19,912,233		16,753,889
Loans covered under loss sharing
	agreements with the FDIC		3,647,066		-		-		3,925,440		3,925,440		4,223,758		4,663,327
FDIC loss share asset			1,399,098		-		-		1,241,579		1,241,579		1,915,128		1,755,295
Mortgage servicing rights			154,430		-		-		154,430		154,430		151,323		151,323
Derivatives			41,935		-		41,935		-		41,935		61,887		61,887
		December 31, 2012											December 31, 2011
		Carrying											Carrying
(In thousands)		amount		Level 1		Level 2		Level 3		Fair value			amount	Fair value
Financial Liabilities:
Deposits:
	Demand deposits	$	18,089,904	$	-	$	18,089,904	$	-	$	18,089,904	$	17,232,087	$	17,232,087
	Time deposits		8,910,709		-		8,994,363		-		8,994,363		10,710,040		10,825,256
Total deposits		$	27,000,613	$	-	$	27,084,267	$	-	$	27,084,267	$	27,942,127	$	28,057,343
Assets sold under agreements to
	repurchase:
	Securities sold under agreements
	to repurchase	$	1,378,562	$	-	$	1,385,237	$	-	$	1,385,237	$	1,102,907	$	1,107,314
	Structured repurchase agreements		638,190		-		720,620		-		720,620		1,038,190		1,166,488
Total assets sold under agreements to
	repurchase	$	2,016,752	$	-	$	2,105,857	$	-	$	2,105,857	$	2,141,097	$	2,273,802
Other short-term borrowings[2]		$	636,200	$	-	$	636,200	$	-	$	636,200	$	296,200	$	296,200
Notes payable:
	FHLB advances	$	577,490	$	-	$	608,313	$	-	$	608,313	$	642,568	$	673,505
	Medium-term notes		236,753		-		243,351		3,843		247,194		278,897		282,898
	Junior subordinated deferrable
	interest debentures (related to
	trust preferred securities)		439,800		-		363,659		-		363,659		439,800		284,238
	Junior subordinated deferrable
	interest debentures (Troubled
	Asset Relief Program)		499,470		-		-		824,458		824,458		470,037		457,120
	Others		24,208		-		-		24,208		24,208		25,070		25,070
Total notes payable		$	1,777,721	$	-	$	1,215,323	$	852,509	$	2,067,832	$	1,856,372	$	1,722,831
Derivatives		$	42,585	$	-	$	42,585	$	-	$	42,585	$	66,700	$	66,700
Contingent consideration		$	112,002	$	-	$	-	$	112,002	$	112,002	$	99,762	$	99,762
(In thousands)			Notional amount		Level 1		Level 2		Level 3		Fair value		Notional amount		Fair value
Commitments to extend credit		$	6,774,990	$	-	$	-	$	2,858	$	2,858	$	6,695,956	$	2,062
Letters of credit			148,153		-		-		1,544		1,544		136,341		2,339