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PROPERTY PLANT AND EQUIPMENT

12 Months Ended

Dec. 31, 2017

Property Plant And Equipment [Abstract]

Property Plant And Equipment Disclosure [Text Block]

NOTE 14 – PREMISES AND EQUIPMENT

Premises and equipment comprise:

	Useful Life In Years			As of December 31,
				2017			2016
(Dollars in thousands)
Buildings and improvements		10-35		$	132,008		$	139,533
Leasehold improvements		1-10			53,866			60,605
Furniture and equipment		2-10			166,853			165,386
					352,727			365,524
Accumulated depreciation and amortization					(245,777)			(248,335)
					106,950			117,189
Land					24,640			25,279
Projects in progress					10,305			8,360
Total premises and equipment, net				$	141,895		$	150,828

Depreciation and amortization expense amounted to $16.4 million, $17.6 million, and $21.1 million for the years ended December 31, 2017, 2016, and 2015, respectively.

The Corporation identified impairment to several of its facilities and equipment in the areas affected by Hurricanes Irma and Maria. Losses related to the damaged facilities and equipment were charged against earnings in 2017, and included as a component of “Other non-interest income” in the consolidated statement of income. The losses were determined with information currently available as to carrying amounts of impaired assets and the extent of the damage sustained. Management has currently identified asset impairments of approximately $0.6 million as of December 31, 2017. If the sustained damage differs from the initial assessments, the result could cause additional charges for estimated losses in 2018. The Corporation maintains insurance policies for casualty losses that provide for replacement value coverage.

Management believes that recovery of asset impairments identified as of December 31, 2017 is probable.  As such, insurance recoveries of $0.6 million were recorded in 2017, also as a component of “Other non-interest income” in the consolidated statement of income, and the corresponding receivable was included as part of “Other assets” in the consolidated statement of financial condition as of December 31, 2017.

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- References

No definition available.

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- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

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