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Debt securities held-to-maturity (Tables) | 9 Months Ended
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Sep. 30, 2020
Investments [Abstract] |
Debt Securities, Held-to-maturity |
|  | At September 30, 2020 |
|  |  |  |  | Allowance |  |  | Gross | Gross |  |  | Weighted |
|  | Amortized |  | for Credit |  | Net of | unrealized | unrealized | Fair | average |
(In thousands) | cost |  | Losses |  | Allowance | gains | losses | value | yield |
Obligations of Puerto Rico, States and political subdivisions |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Within 1 year | $ | 3,990 | $ | 206 | $ | 3,784 | $ | 83 | $ | - | $ | 3,867 | 6.06 | %
| After 1 to 5 years |  | 16,030 |  | 1,547 |  | 14,483 |  | 1,507 |  | - |  | 15,990 | 6.16 |
| After 5 to 10 years |  | 14,845 |  | 1,118 |  | 13,727 |  | 556 |  | 131 |  | 14,152 | 2.77 |
| After 10 years |  | 46,202 |  | 9,550 |  | 36,652 |  | 12,334 |  | - |  | 48,986 | 1.60 |
Total obligations of Puerto Rico, States and political subdivisions |  | 81,067 |  | 12,421 |  | 68,646 |  | 14,480 |  | 131 |  | 82,995 | 2.93 |
Collateralized mortgage obligations - federal agencies |  |  |  |  |  |  |  |  |  |  |  |  |  |
| After 1 to 5 years |  | 35 |  | - |  | 35 |  | 2 |  | - |  | 37 | 6.44 |
Total collateralized mortgage obligations - federal agencies |  | 35 |  | - |  | 35 |  | 2 |  | - |  | 37 | 6.44 |
Securities in wholly owned statutory business trusts |  |  |  |  |  |  |  |  |  |  |  |  |  |
| After 10 years |  | 11,561 |  | - |  | 11,561 |  | - |  | - |  | 11,561 | 6.51 |
Total securities in wholly owned statutory business trusts |  | 11,561 |  | - |  | 11,561 |  | - |  | - |  | 11,561 | 6.51 |
Other |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Within 1 year |  | 500 |  | - |  | 500 |  | - |  | - |  | 500 | 2.97 |
Total other |  | 500 |  | - |  | 500 |  | - |  | - |  | 500 | 2.97 |
Total debt securities held-to-maturity | $ | 93,163 | $ | 12,421 | $ | 80,742 | $ | 14,482 | $ | 131 | $ | 95,093 | 3.38 | %
|  | At December 31, 2019 |
|  |  |  | Gross | Gross |  |  | Weighted |
|  | Amortized | unrealized | unrealized | Fair | average |
(In thousands) | cost | gains | losses | value | yield |
Obligations of Puerto Rico, States and political subdivisions |  |  |  |  |  |  |  |  |  |
| Within 1 year | $ | 3,745 | $ | - | $ | 11 | $ | 3,734 | 6.01 | %
| After 1 to 5 years |  | 17,580 |  | - |  | 320 |  | 17,260 | 6.11 |
| After 5 to 10 years |  | 18,195 |  | - |  | 1,607 |  | 16,588 | 3.11 |
| After 10 years |  | 46,036 |  | 9,384 |  | - |  | 55,420 | 1.67 |
Total obligations of Puerto Rico, States and political subdivisions |  | 85,556 |  | 9,384 |  | 1,938 |  | 93,002 | 3.08 |
Collateralized mortgage obligations - federal agencies |  |  |  |  |  |  |  |  |  |
| After 1 to 5 years |  | 45 |  | 2 |  | - |  | 47 | 6.44 |
Total collateralized mortgage obligations - federal agencies |  | 45 |  | 2 |  | - |  | 47 | 6.44 |
Securities in wholly owned statutory business trusts |  |  |  |  |  |  |  |  |  |
| After 10 years |  | 11,561 |  | - |  | - |  | 11,561 | 6.51 |
Total securities in wholly owned statutory business trusts |  | 11,561 |  | - |  | - |  | 11,561 | 6.51 |
Other |  |  |  |  |  |  |  |  |  |
| Within 1 year |  | 500 |  | - |  | - |  | 500 | 2.97 |
Total other |  | 500 |  | - |  | - |  | 500 | 2.97 |
Total debt securities held-to-maturity | $ | 97,662 | $ | 9,386 | $ | 1,938 | $ | 105,110 | 3.49 | %
Debt Securities Held To Maturity Unrealized Loss Position Fair Value |
|  | At December 31, 2019
|  | Less than 12 months | 12 months or more | Total
|  |  |  | Gross |  |  | Gross |  |  | Gross
|  | Fair | unrealized | Fair | unrealized | Fair | unrealized
(In thousands) | value | losses | value | losses | value | losses
Obligations of Puerto Rico, States and political subdivisions | $ | 17,544 | $ | 291 | $ | 12,673 | $ | 1,647 | $ | 30,217 | $ | 1,938
Total debt securities held-to-maturity in an unrealized loss position | $ | 17,544 | $ | 291 | $ | 12,673 | $ | 1,647 | $ | 30,217 | $ | 1,938
Debt securities held to maturity credit quality indicator |
|  | September 30, 2020
(In thousands) |  | Securities issued by Puerto Rico Municipalities
Watch | $ | 20,585
Special Mention |  | 14,730
Ending Balance | $ | 35,315
Debt securities held to maturity allowance for credit loss | Allowance for credit losses on debt securities held-to-maturity The following table provides the activity in the allowance for credit losses related to debt securities held-to-maturity by security type for the quarter and nine months ended September 30, 2020.
|  | For the quarter ended September 30, 2020
(In thousands) |  | Obligations of Puerto Rico, States and political subdivisions
Allowance for credit losses: |  |
| Beginning balance | $ | 12,735
| Provision for credit loss expense (reversal of provision) |  | (314)
| Securities charged-off |  | -
| Recoveries |  | -
Ending Balance | $ | 12,421
|  | For the nine months ended September 30, 2020
(In thousands) |  | Obligations of Puerto Rico, States and political subdivisions
Allowance for credit losses: |  |
| Beginning balance, January 1, 2020 | $ | -
| Impact of adopting CECL |  | 12,654
| Provision for credit loss expense (reversal of provision) |  | (233)
| Securities charged-off |  | -
| Recoveries |  | -
Ending Balance | $ | 12,421

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