XML 83 R69.htm IDEA: XBRL DOCUMENT
v3.19.1

Fair value of financial instruments (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2019
Fair Value Disclosures |
Fair Value By Balance Sheet Grouping Text Block |
|  | March 31, 2019
| Carrying |  |  |  |
(In thousands) | amount | Level 1 | Level 2 | Level 3 | Fair value
Financial Assets: |  |  |  |  |  |  |  |  |  |
Cash and due from banks | $ | 376,558 | $ | 376,558 | $ | - | $ | - | $ | 376,558
Money market investments |  | 4,814,134 |  | 4,804,949 |  | 9,185 |  | - |  | 4,814,134
Trading account debt securities, excluding |  |  |  |  |  |  |  |  |  |
| derivatives[1] |  | 39,217 |  | 6,764 |  | 31,337 |  | 1,116 |  | 39,217
Debt securities available-for-sale[1] |  | 13,542,695 |  | 2,476,890 |  | 11,064,570 |  | 1,235 |  | 13,542,695
Debt securities held-to-maturity: |  |  |  |  |  |  |  |  |  |
| Obligations of Puerto Rico, States |  |  |  |  |  |  |  |  |  |
| and political subdivisions | $ | 87,341 | $ | - | $ | - | $ | 91,340 | $ | 91,340
| Collateralized mortgage |  |  |  |  |  |  |  |  |  |
| obligation-federal agency |  | 53 |  | - |  | - |  | 56 |  | 56
| Securities in wholly owned statutory |  |  |  |  |  |  |  |  |  |
| business trusts |  | 11,561 |  | - |  | 11,561 |  | - |  | 11,561
| Other |  | 500 |  | - |  | 500 |  | - |  | 500
Total debt securities |  |  |  |  |  |  |  |  |  |
| held-to-maturity | $ | 99,455 | $ | - | $ | 12,061 | $ | 91,396 | $ | 103,457
Equity securities: |  |  |  |  |  |  |  |  |  |
| FHLB stock | $ | 48,949 | $ | - | $ | 48,949 | $ | - | $ | 48,949
| FRB stock |  | 90,598 |  | - |  | 90,598 |  | - |  | 90,598
| Other investments |  | 18,960 |  | - |  | 17,658 |  | 6,345 |  | 24,003
Total equity securities | $ | 158,507 | $ | - | $ | 157,205 | $ | 6,345 | $ | 163,550
Loans held-for-sale | $ | 43,985 | $ | - | $ | - | $ | 45,085 | $ | 45,085
Loans held-in-portfolio |  | 26,097,080 |  | - |  | - |  | 23,941,120 |  | 23,941,120
Mortgage servicing rights |  | 167,813 |  | - |  | - |  | 167,813 |  | 167,813
Derivatives |  | 14,843 |  | - |  | 14,843 |  | - |  | 14,843
|  | March 31, 2019
| Carrying |  |  |  |
(In thousands) | amount | Level 1 | Level 2 | Level 3 | Fair value
Financial Liabilities: |  |  |  |  |  |  |  |  |  |
Deposits: |  |  |  |  |  |  |  |  |  |
| Demand deposits | $ | 33,074,074 | $ | - | $ | 33,074,074 | $ | - | $ | 33,074,074
| Time deposits |  | 7,805,764 |  | - |  | 7,633,195 |  | - |  | 7,633,195
Total deposits | $ | 40,879,838 | $ | - | $ | 40,707,269 | $ | - | $ | 40,707,269
Assets sold under agreements to |  |  |  |  |  |  |  |  |  |
| repurchase | $ | 200,871 | $ | - | $ | 200,691 | $ | - | $ | 200,691
Other short-term borrowings[2] | $ | 42 | $ | - | $ | 42 | $ | - | $ | 42
Notes payable: |  |  |  |  |  |  |  |  |  |
| FHLB advances | $ | 497,250 | $ | - | $ | 498,220 | $ | - | $ | 498,220
| Unsecured senior debt securities |  | 294,356 |  | - |  | 308,142 |  | - |  | 308,142
| Junior subordinated deferrable |  |  |  |  |  |  |  |  |  |
| interest debentures (related to |  |  |  |  |  |  |  |  |  |
| trust preferred securities) |  | 384,882 |  | - |  | 389,331 |  | - |  | 389,331
Total notes payable | $ | 1,176,488 | $ | - | $ | 1,195,693 | $ | - | $ | 1,195,693
Derivatives | $ | 12,770 | $ | - | $ | 12,770 | $ | - | $ | 12,770
[1] Refer to Note 24 to the C onsolidated F inancial S tatements for the fair value by class of financial asset and its hierarchy level. [2] Refer to Note 17 to the Consolidated F inancial S tatements for the composition of other short-term borrowings.
|  | December 31, 2018
| Carrying |  |  |  |
(In thousands) | amount | Level 1 | Level 2 | Level 3 | Fair value
Financial Assets: |  |  |  |  |  |  |  |  |  |
Cash and due from banks | $ | 394,035 | $ | 394,035 | $ | - | $ | - | $ | 394,035
Money market investments |  | 4,171,048 |  | 4,161,832 |  | 9,216 |  | - |  | 4,171,048
Trading account debt securities, excluding |  |  |  |  |  |  |  |  |  |
| derivatives[1] |  | 37,787 |  | 6,278 |  | 30,370 |  | 1,139 |  | 37,787
Debt securities available-for-sale[1] |  | 13,300,184 |  | 2,719,740 |  | 10,579,211 |  | 1,233 |  | 13,300,184
Debt securities held-to-maturity: |  |  |  |  |  |  |  |  |  |
| Obligations of Puerto Rico, States |  |  |  |  |  |  |  |  |  |
| and political subdivisions | $ | 89,459 | $ | - | $ | - | $ | 90,534 | $ | 90,534
| Collateralized mortgage |  |  |  |  |  |  |  |  |  |
| obligation-federal agency |  | 55 |  | - |  | - |  | 58 |  | 58
| Securities in wholly owned statutory |  |  |  |  |  |  |  |  |  |
| business trusts |  | 11,561 |  | - |  | 11,561 |  | - |  | 11,561
| Other |  | 500 |  | - |  | 500 |  | - |  | 500
Total debt securities |  |  |  |  |  |  |  |  |  |
| held-to-maturity | $ | 101,575 | $ | - | $ | 12,061 | $ | 90,592 | $ | 102,653
Equity securities: |  |  |  |  |  |  |  |  |  |
| FHLB stock | $ | 51,628 | $ | - | $ | 51,628 | $ | - | $ | 51,628
| FRB stock |  | 89,358 |  | - |  | 89,358 |  | - |  | 89,358
| Other investments |  | 14,598 |  | - |  | 13,296 |  | 5,539 |  | 18,835
Total equity securities | $ | 155,584 | $ | - | $ | 154,282 | $ | 5,539 | $ | 159,821
Loans held-for-sale | $ | 51,422 | $ | - | $ | - | $ | 52,474 | $ | 52,474
Loans held-in-portfolio |  | 25,938,541 |  | - |  | - |  | 23,143,027 |  | 23,143,027
Loans covered under loss sharing |  |  |  |  |  |  |  |  |  |
Mortgage servicing rights |  | 169,777 |  | - |  | - |  | 169,777 |  | 169,777
Derivatives |  | 13,603 |  | - |  | 13,603 |  | - |  | 13,603
|  | December 31, 2018
| Carrying |  |  |  |
(In thousands) | amount | Level 1 | Level 2 | Level 3 | Fair value
Financial Liabilities: |  |  |  |  |  |  |  |  |  |
Deposits: |  |  |  |  |  |  |  |  |  |
| Demand deposits | $ | 32,093,274 | $ | - | $ | 32,093,274 | $ | - | $ | 32,093,274
| Time deposits |  | 7,616,765 |  | - |  | 7,392,698 |  | - |  | 7,392,698
Total deposits | $ | 39,710,039 | $ | - | $ | 39,485,972 | $ | - | $ | 39,485,972
Assets sold under agreements to |  |  |  |  |  |  |  |  |  |
| repurchase | $ | 281,529 | $ | - | $ | 281,535 | $ | - | $ | 281,535
Other short-term borrowings[2] | $ | 42 | $ | - | $ | 42 | $ | - | $ | 42
Notes payable: |  |  |  |  |  |  |  |  |  |
| FHLB advances | $ | 556,776 | $ | - | $ | 553,111 | $ | - | $ | 553,111
| Unsecured senior debt |  | 294,039 |  | - |  | 302,664 |  | - |  | 302,664
| Junior subordinated deferrable |  |  |  |  |  |  |  |  |  |
| interest debentures (related to |  |  |  |  |  |  |  |  |  |
| trust preferred securities) |  | 384,875 |  | - |  | 381,079 |  | - |  | 381,079
| Capital lease obligations |  | 20,412 |  | - |  | - |  | 20,412 |  | 20,412
Total notes payable | $ | 1,256,102 | $ | - | $ | 1,236,854 | $ | 20,412 | $ | 1,257,266
Derivatives | $ | 12,320 | $ | - | $ | 12,320 | $ | - | $ | 12,320
[1] Refer to Note 24 to the Consolidated F inancial S tatements for the fair value by class of financial asset and its hierarchy level. [2] Refer to Note 17 to the C onsolidated F inancial S tatements for the composition of other short-term borrowings.

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=109250915&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration