Fair value of financial instruments (Tables)

3 Months Ended

Mar. 31, 2017

Fair Value Disclosures

Fair Value By Balance Sheet Grouping Text Block

		March 31, 2017
		Carrying
(In thousands)		amount		Level 1		Level 2		Level 3		Fair value
Financial Assets:
Cash and due from banks		$	340,225	$	340,225	$	-	$	-	$	340,225
Money market investments			3,653,347		3,644,623		8,724		-		3,653,347
Trading account securities, excluding
	derivatives[1]		50,985		-		44,996		5,989		50,985
Investment securities available-for-sale[1]			9,197,527		-		9,196,238		1,289		9,197,527
Investment securities held-to-maturity:
	Obligations of Puerto Rico, States
	and political subdivisions	$	94,253	$	-	$	-	$	71,589	$	71,589
	Collateralized mortgage
	obligation-federal agency		73		-		-		77		77
	Other		2,000		-		1,736		226		1,962
Total investment securities
	held-to-maturity	$	96,326	$	-	$	1,736	$	71,892	$	73,628
Other investment securities:
	FHLB stock	$	57,262	$	-	$	57,262	$	-	$	57,262
	FRB stock		93,911		-		93,911		-		93,911
	Trust preferred securities		13,198		-		13,198		-		13,198
	Other investments		1,915		-		-		5,246		5,246
Total other investment securities		$	166,286	$	-	$	164,371	$	5,246	$	169,617
Loans held-for-sale		$	85,309	$	-	$	289	$	87,230	$	87,519
Loans not covered under loss sharing
	agreement with the FDIC		22,217,996		-		-		20,479,513		20,479,513
Loans covered under loss sharing
	agreements with the FDIC		524,209		-		-		491,393		491,393
FDIC loss share asset			58,793		-		-		54,171		54,171
Mortgage servicing rights			193,698		-		-		193,698		193,698
Derivatives			13,097		-		13,097		-		13,097
		March 31, 2017
		Carrying
(In thousands)		amount		Level 1		Level 2		Level 3		Fair value
Financial Liabilities:
Deposits:
	Demand deposits	$	24,499,612	$	-	$	24,499,612	$	-	$	24,499,612
	Time deposits		7,712,967		-		7,712,363		-		7,712,363
Total deposits		$	32,212,579	$	-	$	32,211,975	$	-	$	32,211,975
Assets sold under agreements to
	repurchase	$	434,714	$	-	$	434,715	$	-	$	434,715
Other short-term borrowings[2]		$	1,200	$	-	$	1,200	$	-	$	1,200
Notes payable:
	FHLB advances	$	655,521	$	-	$	654,939	$	-	$	654,939
	Unsecured senior debt securities		445,309		-		471,753		-		471,753
	Junior subordinated deferrable
	interest debentures (related to
	trust preferred securities)		439,330		-		402,973		-		402,973
	Others		17,812		-		-		17,812		17,812
Total notes payable		$	1,557,972	$	-	$	1,529,665	$	17,812	$	1,547,477
Derivatives		$	11,196	$	-	$	11,196	$	-	$	11,196
Contingent consideration		$	160,543	$	-	$	-	$	160,543	$	160,543

		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
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		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