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Business combination (Tables)
9 Months Ended
Sep. 30, 2015
Schedule Of Recognized Identified Assets Acquired And Liabilities Assumed Table Text Block
Book value prior toAs recorded by
purchase accountingFair valueAdditionalPopular, Inc. on
(In thousands) adjustments adjustments consideration[1] February 27, 2015
Assets:
Cash and due from banks$339,633$-$-$339,633
Investment in available-for-sale securities172,706--172,706
Investments in FHLB stock30,785--30,785
Loans1,718,208(52,452)-1,665,756
Accrued income receivable7,808--7,808
Receivable from the FDIC--441,721441,721
Core deposit intangible23,572--23,572
Other assets 67,6767,569-75,245
Total assets $2,360,388$(44,883)$441,721$2,757,226
Liabilities:
Deposits$2,193,404$8,051$-$2,201,455
Advances from the Federal Home Loan Bank542,0005,187-547,187
Other liabilities50,728(511)-50,217
Total liabilities$2,786,132$12,727$-$2,798,859
Excess of liabilities assumed over assets acquired$425,744
Aggregate fair value adjustments$(57,610)
Additional consideration$441,721
Goodwill on acquisition$41,633
[1] The additional consideration represents the cash to be received from the FDIC for the difference between the net liabilities assumed and the net premium paid on the transaction.