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Fair value of financial instruments (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2018
Fair Value Disclosures |
Fair Value By Balance Sheet Grouping Text Block |
|  | September 30, 2018
| Carrying |  |  |  |
(In thousands) | amount | Level 1 | Level 2 | Level 3 | Fair value
Financial Assets: |  |  |  |  |  |  |  |  |  |
Cash and due from banks | $ | 400,949 | $ | 400,949 | $ | - | $ | - | $ | 400,949
Money market investments |  | 4,609,061 |  | 4,597,827 |  | 11,234 |  | - |  | 4,609,061
Trading account debt securities, excluding |  |  |  |  |  |  |  |  |  |
| derivatives[1] |  | 37,731 |  | 5,183 |  | 31,363 |  | 1,185 |  | 37,731
Debt securities available-for-sale[1] |  | 13,047,617 |  | 2,496,517 |  | 10,549,837 |  | 1,263 |  | 13,047,617
Debt securities held-to-maturity: |  |  |  |  |  |  |  |  |  |
| Obligations of Puerto Rico, States |  |  |  |  |  |  |  |  |  |
| and political subdivisions | $ | 89,121 | $ | - | $ | - | $ | 92,959 | $ | 92,959
| Collateralized mortgage |  |  |  |  |  |  |  |  |  |
| obligation-federal agency |  | 56 |  | - |  | - |  | 59 |  | 59
| Trust preferred securities |  | 11,561 |  | - |  | 11,561 |  | - |  | 11,561
| Other |  | 500 |  | - |  | 495 |  | - |  | 495
Total debt securities |  |  |  |  |  |  |  |  |  |
| held-to-maturity | $ | 101,238 | $ | - | $ | 12,056 | $ | 93,018 | $ | 105,074
Equity securities: |  |  |  |  |  |  |  |  |  |
| FHLB stock | $ | 53,562 | $ | - | $ | 53,562 | $ | - | $ | 53,562
| FRB stock |  | 88,945 |  | - |  | 88,945 |  | - |  | 88,945
| Other investments |  | 15,455 |  | - |  | 14,152 |  | 6,082 |  | 20,234
Total equity securities | $ | 157,962 | $ | - | $ | 156,659 | $ | 6,082 | $ | 162,741
Loans held-for-sale | $ | 51,742 | $ | - | $ | - | $ | 52,151 | $ | 52,151
Loans not covered under loss sharing |  |  |  |  |  |  |  |  |  |
| agreement with the FDIC |  | 25,878,450 |  | - |  | - |  | 23,709,245 |  | 23,709,245
Mortgage servicing rights |  | 162,779 |  | - |  | - |  | 162,779 |  | 162,779
Derivatives |  | 18,977 |  | - |  | 18,977 |  | - |  | 18,977
|  | September 30, 2018
| Carrying |  |  |  |
(In thousands) | amount | Level 1 | Level 2 | Level 3 | Fair value
Financial Liabilities: |  |  |  |  |  |  |  |  |  |
Deposits: |  |  |  |  |  |  |  |  |  |
| Demand deposits | $ | 32,236,547 | $ | - | $ | 32,236,547 | $ | - | $ | 32,236,547
| Time deposits |  | 7,412,280 |  | - |  | 7,187,889 |  | - |  | 7,187,889
Total deposits | $ | 39,648,827 | $ | - | $ | 39,424,436 | $ | - | $ | 39,424,436
Assets sold under agreements to |  |  |  |  |  |  |  |  |  |
| repurchase | $ | 300,116 | $ | - | $ | 300,150 | $ | - | $ | 300,150
Other short-term borrowings[2] | $ | 1,200 | $ | - | $ | 1,200 | $ | - | $ | 1,200
Notes payable: |  |  |  |  |  |  |  |  |  |
| FHLB advances | $ | 599,755 | $ | - | $ | 591,397 | $ | - | $ | 591,397
| Unsecured senior debt securities |  | 742,159 |  | - |  | 763,863 |  | - |  | 763,863
| Junior subordinated deferrable |  |  |  |  |  |  |  |  |  |
| interest debentures (related to |  |  |  |  |  |  |  |  |  |
| trust preferred securities) |  | 384,869 |  | - |  | 371,913 |  | - |  | 371,913
| Others |  | 17,904 |  | - |  | - |  | 17,904 |  | 17,904
Total notes payable | $ | 1,744,687 | $ | - | $ | 1,727,173 | $ | 17,904 | $ | 1,745,077
Derivatives | $ | 16,554 | $ | - | $ | 16,554 | $ | - | $ | 16,554
|  | 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

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