Fair value of financial instruments (Tables)

6 Months Ended

Jun. 30, 2018

Fair Value Disclosures

Fair Value By Balance Sheet Grouping Text Block

		June 30, 2018
		Carrying
(In thousands)		amount		Level 1		Level 2		Level 3		Fair value
Financial Assets:
Cash and due from banks		$	400,568	$	400,568	$	-	$	-	$	400,568
Money market investments			8,628,442		8,617,121		11,321		-		8,628,442
Trading account debt securities, excluding
	derivatives[1]		41,637		4,956		35,462		1,219		41,637
Debt securities available-for-sale[1]			10,542,010		552,388		9,988,358		1,264		10,542,010
Debt securities held-to-maturity:
	Obligations of Puerto Rico, States
	and political subdivisions	$	90,928	$	-	$	-	$	93,390	$	93,390
	Collateralized mortgage
	obligation-federal agency		61		-		-		65		65
	Trust preferred securities		13,198		-		13,198		-		13,198
	Other		750		-		743		-		743
Total debt securities
	held-to-maturity	$	104,937	$	-	$	13,941	$	93,455	$	107,396
Equity securities:
	FHLB stock	$	56,099	$	-	$	56,099	$	-	$	56,099
	FRB stock		88,817		-		88,817		-		88,817
	Other investments		14,101		-		12,798		5,602		18,400
Total equity securities		$	159,017	$	-	$	157,714	$	5,602	$	163,316
Loans held-for-sale		$	73,859	$	-	$	-	$	74,719	$	74,719
Loans not covered under loss sharing
	agreement with the FDIC		23,965,498		-		-		21,825,495		21,825,495
Mortgage servicing rights			164,025		-		-		164,025		164,025
Derivatives			15,763		-		15,763		-		15,763
		June 30, 2018
		Carrying
(In thousands)		amount		Level 1		Level 2		Level 3		Fair value
Financial Liabilities:
Deposits:
	Demand deposits	$	31,954,476	$	-	$	31,954,476	$	-	$	31,954,476
	Time deposits		7,423,085		-		7,220,074		-		7,220,074
Total deposits		$	39,377,561	$	-	$	39,174,550	$	-	$	39,174,550
Assets sold under agreements to
	repurchase	$	306,911	$	-	$	306,941	$	-	$	306,941
Other short-term borrowings[2]		$	1,200	$	-	$	1,200	$	-	$	1,200
Notes payable:
	FHLB advances	$	656,150	$	-	$	649,118	$	-	$	649,118
	Unsecured senior debt securities		447,915		-		460,463		-		460,463
	Junior subordinated deferrable
	interest debentures (related to
	trust preferred securities)		439,364		-		416,875		-		416,875
	Others		18,234		-		-		18,234		18,234
Total notes payable		$	1,561,663	$	-	$	1,526,456	$	18,234	$	1,544,690
Derivatives		$	14,223	$	-	$	14,223	$	-	$	14,223

		December 31, 2017
		Carrying
(In thousands)		amount		Level 1		Level 2		Level 3		Fair value
Financial Assets:
Cash and due from banks		$	402,857	$	402,857	$	-	$	-	$	402,857
Money market investments			5,255,119		5,245,346		9,773		-		5,255,119
Trading account debt securities, excluding
	derivatives[1]		33,746		261		32,384		1,101		33,746
Debt securities available-for-sale[1]			10,176,923		503,385		9,672,250		1,288		10,176,923
Debt securities held-to-maturity:
	Obligations of Puerto Rico, States
	and political subdivisions	$	92,754	$	-	$	-	$	83,239	$	83,239
	Collateralized mortgage
	obligation-federal agency		67		-		-		71		71
	Trust preferred securities		13,198		-		13,198		-		13,198
	Other		1,000		-		750		243		993
Total debt securities
	held-to-maturity	$	107,019	$	-	$	13,948	$	83,553	$	97,501
Equity securities:
	FHLB stock	$	57,819	$	-	$	57,819	$	-	$	57,819
	FRB stock		94,308		-		94,308		-		94,308
	Other investments		12,976		-		11,076		5,214		16,290
Total equity securities		$	165,103	$	-	$	163,203	$	5,214	$	168,417
Loans held-for-sale		$	132,395	$	-	$	-	$	134,839	$	134,839
Loans not covered under loss sharing
	agreement with the FDIC		23,702,612		-		-		21,883,003		21,883,003
Loans covered under loss sharing
	agreements with the FDIC		484,030		-		-		465,893		465,893
FDIC loss share asset			45,192		-		-		33,323		33,323
Mortgage servicing rights			168,031		-		-		168,031		168,031
Derivatives			16,719		-		16,719		-		16,719
		December 31, 2017
		Carrying
(In thousands)		amount		Level 1		Level 2		Level 3		Fair value
Financial Liabilities:
Deposits:
	Demand deposits	$	27,938,630	$	-	$	27,938,630	$	-	$	27,938,630
	Time deposits		7,514,878		-		7,381,232		-		7,381,232
Total deposits		$	35,453,508	$	-	$	35,319,862	$	-	$	35,319,862
Assets sold under agreements to
	repurchase	$	390,921	$	-	$	390,752	$	-	$	390,752
Other short-term borrowings[2]		$	96,208	$	-	$	96,208	$	-	$	96,208
Notes payable:
	FHLB advances	$	631,490	$	-	$	628,839	$	-	$	628,839
	Unsecured senior debt		446,873		-		463,554		-		463,554
	Junior subordinated deferrable
	interest debentures (related to
	trust preferred securities)		439,351		-		406,883		-		406,883
	Others		18,642		-		-		18,642		18,642
Total notes payable		$	1,536,356	$	-	$	1,499,276	$	18,642	$	1,517,918
Derivatives		$	14,431	$	-	$	14,431	$	-	$	14,431
Contingent consideration		$	164,858	$	-	$	-	$	164,858	$	164,858