Fair value of financial instruments (Tables)

12 Months Ended

Dec. 31, 2016

Fair Value Disclosures

Fair Value By Balance Sheet Grouping Text Block

		December 31, 2016
		Carrying
(In thousands)		amount		Level 1		Level 2		Level 3		Fair value
Financial Assets:
Cash and due from banks		$	362,394	$	362,394	$	-	$	-	$	362,394
Money market investments			2,890,217		2,854,777		35,440		-		2,890,217
Trading account securities, excluding
	derivatives[1]		59,796		-		53,118		6,678		59,796
Investment securities available-for-sale[1]			8,209,806		-		8,208,414		1,392		8,209,806
Investment securities held-to-maturity:
	Obligations of Puerto Rico, States
	and political subdivisions	$	96,027	$	-	$	-	$	73,540	$	73,540
	Collateralized mortgage
	obligation-federal agency		74		-		-		78		78
	Other		2,000		-		1,738		220		1,958
Total investment securities
	held-to-maturity	$	98,101	$	-	$	1,738	$	73,838	$	75,576
Other investment securities:
	FHLB stock	$	58,033	$	-	$	58,033	$	-	$	58,033
	FRB stock		94,672		-		94,672		-		94,672
	Trust preferred securities		13,198		-		13,198		-		13,198
	Other investments		1,915		-		-		4,987		4,987
Total other investment securities		$	167,818	$	-	$	165,903	$	4,987	$	170,890
Loans held-for-sale		$	88,821	$	-	$	504	$	89,509	$	90,013
Loans not covered under loss sharing
	agreement with the FDIC		22,263,446		-		-		20,578,904		20,578,904
Loans covered under loss sharing
	agreements with the FDIC		542,528		-		-		515,808		515,808
FDIC loss share asset			69,334		-		-		63,187		63,187
Mortgage servicing rights			196,889		-		-		196,889		196,889
Derivatives			14,094		-		14,094		-		14,094
		December 31, 2016
		Carrying
(In thousands)		amount		Level 1		Level 2		Level 3		Fair value
Financial Liabilities:
Deposits:
	Demand deposits	$	22,786,682	$	-	$	22,786,682	$	-	$	22,786,682
	Time deposits		7,709,542		-		7,708,724		-		7,708,724
Total deposits		$	30,496,224	$	-	$	30,495,406	$	-	$	30,495,406
Federal funds purchased and assets
	sold under agreements to repurchase	$	479,425	$	-	$	479,439	$	-	$	479,439
Other short-term borrowings[2]		$	1,200	$	-	$	1,200	$	-	$	1,200
Notes payable:
	FHLB advances	$	672,670	$	-	$	671,872	$	-	$	671,872
	Unsecured senior debt securities		444,788		-		466,263		-		466,263
	Junior subordinated deferrable
	interest debentures (related to
	trust preferred securities)		439,323		-		399,370		-		399,370
	Others		18,071		-		-		18,071		18,071
Total notes payable		$	1,574,852	$	-	$	1,537,505	$	18,071	$	1,555,576
Derivatives		$	12,842	$	-	$	12,842	$	-	$	12,842
Contingent consideration		$	153,158	$	-	$	-	$	153,158	$	153,158

		December 31, 2015
		Carrying
(In thousands)		amount		Level 1		Level 2		Level 3		Fair value
Financial Assets:
Cash and due from banks		$	363,674	$	363,674	$	-	$	-	$	363,674
Money market investments			2,180,092		2,083,839		96,253		-		2,180,092
Trading account securities, excluding
	derivatives[1]		71,659		-		62,687		8,972		71,659
Investment securities available-for-sale[1]			6,062,992		276		6,061,282		1,434		6,062,992
Investment securities held-to-maturity:
	Obligations of Puerto Rico, States
	and political subdivisions	$	98,817	$	-	$	-	$	80,815	$	80,815
	Collateralized mortgage
	obligation-federal agency		86		-		-		91		91
	Other		2,000		-		1,740		243		1,983
Total investment securities
	held-to-maturity	$	100,903	$	-	$	1,740	$	81,149	$	82,889
Other investment securities:
	FHLB stock	$	59,387	$	-	$	59,387	$	-	$	59,387
	FRB stock		97,740		-		97,740		-		97,740
	Trust preferred securities		13,198		-		13,198		-		13,198
	Other investments		1,923		-		-		4,966		4,966
Total other investment securities		$	172,248	$	-	$	170,325	$	4,966	$	175,291
Loans held-for-sale		$	137,000	$	-	$	1,364	$	138,031	$	139,395
Loans not covered under loss sharing
	agreement with the FDIC		21,843,180		-		-		20,849,150		20,849,150
Loans covered under loss sharing
	agreements with the FDIC		611,939		-		-		593,002		593,002
FDIC loss share asset			310,221		-		-		313,224		313,224
Mortgage servicing rights			211,405		-		-		211,405		211,405
Derivatives			16,959		-		16,959		-		16,959
		December 31, 2015
		Carrying
(In thousands)		amount		Level 1		Level 2		Level 3		Fair value
Financial Liabilities:
Deposits:
	Demand deposits	$	19,044,355	$	-	$	19,044,355	$	-	$	19,044,355
	Time deposits		8,165,368		-		8,134,029		-		8,134,029
Total deposits		$	27,209,723	$	-	$	27,178,384	$	-	$	27,178,384
Federal funds purchased and assets sold
	under agreements to repurchase	$	762,145	$	-	$	764,599	$	-	$	764,599
Other short-term borrowings[2]		$	1,200	$	-	$	1,200	$	-	$	1,200
Notes payable:
	FHLB advances	$	761,501	$	-	$	780,411	$	-	$	780,411
	Unsecured senior debt		442,704		-		435,186		-		435,186
	Junior subordinated deferrable
	interest debentures (related to
	trust preferred securities)		439,295		-		352,673		-		352,673
	Others		19,008		-		-		19,008		19,008
Total notes payable		$	1,662,508	$	-	$	1,568,270	$	19,008	$	1,587,278
Derivatives		$	14,343	$	-	$	14,343	$	-	$	14,343
Contingent consideration		$	120,380	$	-	$	-	$	120,380	$	120,380