XML 121 R75.htm IDEA: XBRL DOCUMENT v3.20.4
Fair value of financial instruments (Tables)
 12 Months Ended
Dec. 31, 2020
Fair Value Disclosures  
Carrying or Notional Amounts and Estimated Fair Values for Financial Instruments

 

 

December 31, 2020

 

Carrying

 

 

 

 

(In thousands)

amount

Level 1

Level 2

Level 3

Fair value

Financial Assets:

 

 

 

 

 

 

 

 

 

 

Cash and due from banks

$

491,065

$

491,065

$

-

$

-

$

491,065

Money market investments

 

11,640,880

 

11,634,851

 

6,029

 

-

 

11,640,880

Trading account debt securities, excluding derivatives[1]

 

36,674

 

11,506

 

24,509

 

659

 

36,674

Debt securities available-for-sale[1]

 

21,561,152

 

3,499,781

 

18,060,357

 

1,014

 

21,561,152

Debt securities held-to-maturity:

 

 

 

 

 

 

 

 

 

 

 

Obligations of Puerto Rico, States and political subdivisions

$

70,768

$

-

$

-

$

83,298

$

83,298

 

Collateralized mortgage obligation-federal agency

 

31

 

-

 

-

 

32

 

32

 

Securities in wholly owned statutory business trusts

 

11,561

 

-

 

11,561

 

-

 

11,561

Total debt securities held-to-maturity

$

82,360

$

-

$

11,561

$

83,330

$

94,891

Equity securities:

 

 

 

 

 

 

 

 

 

 

 

FHLB stock

$

49,799

$

-

$

49,799

$

-

$

49,799

 

FRB stock

 

93,045

 

-

 

93,045

 

-

 

93,045

 

Other investments

 

30,893

 

-

 

29,590

 

1,495

 

31,085

Total equity securities

$

173,737

$

-

$

172,434

$

1,495

$

173,929

Loans held-for-sale

$

99,455

$

-

$

-

$

102,189

$

102,189

Loans held-in-portfolio

 

28,488,946

 

-

 

-

 

27,098,297

 

27,098,297

Mortgage servicing rights

 

118,395

 

-

 

-

 

118,395

 

118,395

Derivatives

 

20,785

 

-

 

20,785

 

-

 

20,785

 

 

December 31, 2020

 

Carrying

 

 

 

 

(In thousands)

amount

Level 1

Level 2

Level 3

Fair value

Financial Liabilities:

 

 

 

 

 

 

 

 

 

 

Deposits:

 

 

 

 

 

 

 

 

 

 

 

Demand deposits

$

49,558,492

$

-

$

49,558,492

$

-

$

49,558,492

 

Time deposits

 

7,307,848

 

-

 

7,319,963

 

-

 

7,319,963

Total deposits

$

56,866,340

$

-

$

56,878,455

$

-

$

56,878,455

Assets sold under agreements to repurchase

$

121,303

$

-

$

121,257

$

-

$

121,257

Notes payable:

 

 

 

 

 

 

 

 

 

 

 

FHLB advances

$

542,469

$

-

$

561,977

$

-

$

561,977

 

Unsecured senior debt securities

 

296,574

 

-

 

321,078

 

-

 

321,078

 

Junior subordinated deferrable interest debentures (related to trust preferred securities)

 

384,929

 

-

 

395,078

 

-

 

395,078

 

FRB advances

 

1,009

 

-

 

1,009

 

-

 

1,009

Total notes payable

$

1,224,981

$

-

$

1,279,142

$

-

$

1,279,142

Derivatives

$

18,925

$

-

$

18,925

$

-

$

18,925

[1]

Refer to Note 27 to the Consolidated Financial Statements for the fair value by class of financial asset and its hierarchy level

 

 

December 31, 2019

 

Carrying

 

 

 

 

(In thousands)

amount

Level 1

Level 2

Level 3

Fair value

Financial Assets:

 

 

 

 

 

 

 

 

 

 

Cash and due from banks

$

388,311

$

388,311

$

-

$

-

$

388,311

Money market investments

 

3,262,286

 

3,256,274

 

6,012

 

-

 

3,262,286

Trading account debt securities, excluding derivatives[1]

 

40,321

 

7,081

 

32,270

 

970

 

40,321

Debt securities available-for-sale[1]

 

17,648,473

 

3,841,715

 

13,805,576

 

1,182

 

17,648,473

Debt securities held-to-maturity:

 

 

 

 

 

 

 

 

 

 

 

Obligations of Puerto Rico, States and political subdivisions

$

85,556

$

-

$

-

$

93,002

$

93,002

 

Collateralized mortgage obligation-federal agency

 

45

 

-

 

-

 

47

 

47

 

Securities in wholly owned statutory business trusts

 

11,561

 

-

 

11,561

 

-

 

11,561

 

Other

 

500

 

-

 

500

 

-

 

500

Total debt securities held-to-maturity

$

97,662

$

-

$

12,061

$

93,049

$

105,110

Equity securities:

 

 

 

 

 

 

 

 

 

 

 

FHLB stock

$

43,787

$

-

$

43,787

$

-

$

43,787

 

FRB stock

 

93,470

 

-

 

93,470

 

-

 

93,470

 

Other investments

 

22,630

 

-

 

21,328

 

7,367

 

28,695

Total equity securities

$

159,887

$

-

$

158,585

$

7,367

$

165,952

Loans held-for-sale

$

59,203

$

-

$

-

$

60,030

$

60,030

Loans held-in-portfolio

 

26,929,165

 

-

 

-

 

25,051,400

 

25,051,400

Mortgage servicing rights

 

150,906

 

-

 

-

 

150,906

 

150,906

Derivatives

 

17,966

 

-

 

17,966

 

-

 

17,966

 

 

December 31, 2019

 

Carrying

 

 

 

 

(In thousands)

amount

Level 1

Level 2

Level 3

Fair value

Financial Liabilities:

 

 

 

 

 

 

 

 

 

 

Deposits:

 

 

 

 

 

 

 

 

 

 

 

Demand deposits

$

36,083,809

$

-

$

36,083,809

$

-

$

36,083,809

 

Time deposits

 

7,674,797

 

-

 

7,598,732

 

-

 

7,598,732

Total deposits

$

43,758,606

$

-

$

43,682,541

$

-

$

43,682,541

Assets sold under agreements to repurchase

$

193,378

$

-

$

193,271

$

-

$

193,271

Notes payable:

 

 

 

 

 

 

 

 

 

 

 

FHLB advances

$

421,399

$

-

$

429,718

$

-

$

429,718

 

Unsecured senior debt

 

295,307

 

-

 

323,415

 

-

 

323,415

 

Junior subordinated deferrable interest debentures (related to trust preferred securities)

 

384,902

 

-

 

395,216

 

-

 

395,216

Total notes payable

$

1,101,608

$

-

$

1,148,349

$

-

$

1,148,349

Derivatives

$

16,619

$

-

$

16,619

$

-

$

16,619

[1]

Refer to Note 27 to the Consolidated Financial Statements for the fair value by class of financial asset and its hierarchy level.