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INVESTMENT SECURITIES (Tables)

12 Months Ended

Dec. 31, 2017

Investment Securities Available for Sale [Table Text Block]

			December 31, 2017
			Amortized cost			Noncredit Loss Component of OTTI Recorded in OCI			Gross						Fair value
									Unrealized									Weighted-
									Gains			Losses						average yield%
(Dollars in thousands)
U.S. Treasury securities:
	After 1 to 5 years		$	7,458		$	-		$	-		$	57		$	7,401		1.29
Obligations of U.S. government-sponsored
agencies:
	Due within one year			122,471			-			-			319			122,152		1.06
	After 1 to 5 years			309,472			-			28			3,735			305,765		1.42
	After 5 to 10 years			133,451			-			117			319			133,249		2.72
	After 10 years			40,769			-			1			149			40,621		1.84
Puerto Rico government
obligations:
	After 5 to 10 years			4,071			-			47			-			4,118		3.14
	After 10 years			3,972			-			-			1,277			2,695		6.97
United States and Puerto
Rico government
obligations				621,664			-			193			5,856			616,001		1.70
Mortgage-backed securities:
FHLMC certificates:
	After 5 to 10 years			18,658			-			14			63			18,609		2.14
	After 10 years			297,733			-			217			4,853			293,097		2.23
				316,391			-			231			4,916			311,706		2.23
GNMA certificates:
	After 1 to 5 years			81			-			1			-			82		3.23
	After 5 to 10 years			69,661			-			1,244			-			70,905		3.05
	After 10 years			145,067			-			5,910			334			150,643		3.81
				214,809			-			7,155			334			221,630		3.56
FNMA certificates:
	After 1 to 5 years			20,831			-			294			109			21,016		2.69
	After 5 to 10 years			49,934			-			-			818			49,116		1.83
	After 10 years			613,129			-			3,180			6,401			609,908		2.43
				683,894			-			3,474			7,328			680,040		2.39
Collateralized mortgage obligations
	guaranteed by the FHLMC
	and GNMA:
	After 1 to 5 years			5,918			-			14			-			5,932		2.21
	After 5 to 10 years			2,556			-			11			-			2,567		2.23
	After 10 years			35,331			-			231			-			35,562		2.22
				43,805			-			256			-			44,061		2.22
Other mortgage pass-through
trust certificates:
	After 10 years			22,791			5,731			-			-			17,060		2.44
Total mortgage-backed
securities				1,281,690			5,731			11,116			12,578			1,274,497		2.54
Other :
	Due within one year			100			-			-			-			100		1.48
Equity securities (1)				424			-			-			6			418		2.11
Total investment securities
	available for sale		$	1,903,878		$	5,731		$	11,309		$	18,440		$	1,891,016		2.27
(1) Equity securities consisted of investment in a Community Reinvestment Act Qualified Investment Fund.

			December 31, 2016
			Amortized cost			Noncredit Loss Component of OTTI Recorded in OCI			Gross						Fair value
									Unrealized									Weighted-
									Gains			Losses						average yield%
(Dollars in thousands)
U.S. Treasury securities:
	Due within one year		$	7,508		$	-		$	1		$	-		$	7,509		0.57
Obligations of U.S. government-sponsored
agencies:
	After 1 to 5 years			440,438			-			142			2,912			437,668		1.33
	After 5 to 10 years			16,942			-			9			256			16,695		1.91
	After 10 years			44,145			-			8			166			43,987		1.12
Puerto Rico government
obligations:
	After 1 to 5 years			21,422			12,222			-			-			9,200		-
	After 10 years			21,245			2,028			73			1,662			17,628		1.86
United States and Puerto Rico
government obligations				551,700			14,250			233			4,996			532,687		1.29
Mortgage-backed securities:
FHLMC certificates:
	After 5 to 10 years			5,908			-			72			-			5,980		2.25
	After 10 years			314,906			-			261			5,827			309,340		2.17
				320,814			-			333			5,827			315,320		2.17
GNMA certificates:
	After 1 to 5 years			83			-			3			-			86		3.82
	After 5 to 10 years			91,744			-			1,635			92			93,287		3.06
	After 10 years			123,548			-			9,706			-			133,254		4.36
				215,375			-			11,344			92			226,627		3.81
FNMA certificates:
	Due within one year			152			-			2			-			154		4.71
	After 1 to 5 years			24,409			-			435			-			24,844		2.18
	After 5 to 10 years			17,181			-			-			261			16,920		1.87
	After 10 years			690,625			-			4,136			9,406			685,355		2.35
				732,367			-			4,573			9,667			727,273		2.33
Collateralized mortgage
	obligations issued or guaranteed
	by the FHLMC and GNMA:
	After 1 to 5 years			19,851			-			4			31			19,824		1.42
	After 10 years			39,120			-			-			132			38,988		1.44
				58,971			-			4			163			58,812		1.43
Other mortgage pass-through
trust certificates:
	After 10 years			28,815			8,122			-			-			20,693		2.40
Total mortgage-backed
securities				1,356,342			8,122			16,254			15,749			1,348,725		2.49
Other:
	After 1 to 5 years			100			-			-			-			100		1.50
Equity Securities (1)				415			-			-			7			408		2.44
Total investment securities
	available for sale		$	1,908,557		$	22,372		$	16,487		$	20,752		$	1,881,920		2.14
(1) Equity securities consisted of investment in a Community Reinvestment Act Qualified Investment Fund.

Available-for-Sale Investments' Fair Value and Gross Unrealized Losses [Table Text Block]

	As of December 31, 2017
	Less than 12 months						12 months or more						Total
				Unrealized						Unrealized						Unrealized
	Fair Value			Losses			Fair Value			Losses			Fair Value			Losses
(In thousands)
Debt securities:
Puerto Rico government obligations	$	-		$	-		$	2,695		$	1,277		$	2,695		$	1,277
U.S Treasury and U.S. government
agencies obligations		136,459			494			362,050			4,085			498,509			4,579
Mortgage-backed securities:
FNMA		189,699			1,705			274,963			5,623			464,662			7,328
FHLMC		91,174			590			166,331			4,326			257,505			4,916
GNMA		39,145			334			-			-			39,145			334
Other mortgage pass-through trust certificates		-			-			17,060			5,731			17,060			5,731
Equity securities		-			-			407			6			407			6
	$	456,477		$	3,123		$	823,506		$	21,048		$	1,279,983		$	24,171
	As of December 31, 2016
	Less than 12 months						12 months or more						Total
				Unrealized						Unrealized						Unrealized
	Fair Value			Losses			Fair Value			Losses			Fair Value			Losses
(In thousands)
Debt securities:
Puerto Rico government obligations	$	-		$	-		$	22,609		$	15,912		$	22,609		$	15,912
U.S Treasury and U.S. government
agencies obligations		469,046			3,334			-			-			469,046			3,334
Mortgage-backed securities:
FNMA		519,008			9,667			-			-			519,008			9,667
FHLMC		244,839			5,827			-			-			244,839			5,827
GNMA		43,388			92			-			-			43,388			92
Collateralized mortgage obligations
issued or guaranteed by FHLMC and GNMA		55,309			163			-			-			55,309			163
Other mortgage pass-through trust certificates		-			-			20,693			8,122			20,693			8,122
Equity securities		408			7			-			-			408			7
	$	1,331,998		$	19,090		$	43,302		$	24,034		$	1,375,300		$	43,124

OTTI Losses on Available-for-Sale Debt Securities [Table Text Block]

				Year Ended
				2017			2016				2015
(In thousands)
Total other-than-temporary impairment losses				$	(12,231)		$	(1,845)		$	(35,806)
Portion of other-than-temporary impairment recognized in OCI					-			(4,842)			19,289
Net impairment losses recognized in earnings (1)				$	(12,231)		$	(6,687)		$	(16,517)
(1)	For the years ended December 31, 2017, 2016 and 2015, approximately $12.2 million, $6.3 million and $15.9 million, respectively, of the credit impairment recognized in earnings consisted of credit losses on Puerto Rico government debt securities that were sold in the second quarter of 2017, as further discussed below. The remaining impairment losses for the years ended December 31, 2016 and 2015 were associated with credit losses on private label MBS.

Roll-Forward of Credit Losses on Debt Securities Held by Corporation [Table Text Block]

The following tables summarize the roll-forward of credit losses on debt securities held by the Corporation for which a portion of an OTTI is recognized in OCI:
		Cumulative OTTI credit losses recognized in earnings on securities still held
					Credit impairments			Credit impairments				Credit loss
		December 31,			recognized in earnings			recognized in earnings on				reductions for			December 31,
		2016			on securities not			securities that have been				securities sold			2017
		Balance			previously impaired			previously impaired				during the period			Balance
(In thousands)
Available-for-sale securities
Puerto Rico government obligations		$	22,189		$	-		$	12,231			$	(34,420)		$	-
Private label MBS			6,792			-			-				-			6,792
Total OTTI credit losses for available-for-sale
debt securities		$	28,981		$	-		$	12,231			$	(34,420)		$	6,792

			Cumulative OTTI credit losses recognized in earnings on securities still held
							Credit impairments			Credit impairments
			December 31,				recognized in earnings			recognized in earnings on		December 31,
			2015				on securities not			securities that have been		2016
			Balance				previously impaired			previously impaired		Balance
(In thousands)
Available-for-sale securities
Puerto Rico government obligations			$	15,889		$	-		$	6,300		$	22,189
Private label MBS				6,405			-			387			6,792
Total OTTI credit losses for available-for-sale
debt securities			$	22,294		$	-		$	6,687		$	28,981

		Cumulative OTTI credit losses recognized in earnings on securities still held
					Credit impairments			Credit impairments
		December 31,			recognized in earnings			recognized in earnings on			December 31,
		2014			on securities not			securities that have been			2015
		Balance			previously impaired			previously impaired			Balance
(In thousands)
Available-for-sale securities
	Puerto Rico government obligations	$	-		$	15,889			-		$	15,889
Private label MBS			5,777			-		$	628			6,405
Total OTTI credit losses for available-for-sale
debt securities		$	5,777		$	15,889		$	628		$	22,294

Significant Assumptions in Valuation of Private Label MBS [Table Text Block]

	As of				As of
	December 31, 2017				December 31, 2016
	Weighted				Weighted
	Average		Range		Average		Range
Discount rate	14.0%		14.0%		14.1%		12.88% - 14.43%
Prepayment rate	16.4%		12.0% - 29.0%		13.8%		6.5% - 22.5%
Projected Cumulative Loss Rate	3%		0% - 6.8%		4%		0.2% - 8.6%

Schedule of aggregate amortized cost and approximate market value of investment securities available for sale [Table Text Block]

The aggregate amortized cost and approximate market value of investment securities available for sale as of December 31, 2017 by contractual maturity, are shown below:
							Amortized Cost			Fair Value
(Dollars in thousands)
Within 1 year	$	122,571		$	122,252
After 1 to 5 years		343,760			340,196
After 5 to 10 years		278,331			278,564
After 10 years		1,158,792			1,149,586
Total	$	1,903,454		$	1,890,598
Equity securities		424			418
Total investment securities available for sale	$	1,903,878		$	1,891,016

Schedule of Available-for-sale Securities by issuer type [Table Text Block]

			As of						As of
		December 31, 2017						December 31, 2016
		Amortized						Amortized
		Cost			Fair Value			Cost			Fair Value
(In thousands)
FHLMC		$	375,719		$	370,855		$	399,955		$	394,249
GNMA			250,140			257,192			254,495			265,615
FNMA			801,198			796,726			849,584			843,818
FHLB			299,949			296,767			231,666			229,792

Held to maturity Securities [Member]

Available-for-Sale Investments' Fair Value and Gross Unrealized Losses [Table Text Block]

	As of December 31, 2017
	Less than 12 months						12 months or more						Total
				Unrealized						Unrealized						Unrealized
	Fair Value			Losses			Fair Value			Losses			Fair Value			Losses
		(In thousands)
Debt securities:
Puerto Rico Municipal Bonds	$	-		$	-		$	131,032		$	19,595		$	131,032		$	19,595
	As of December 31, 2016
	Less than 12 months						12 months or more						Total
				Unrealized						Unrealized						Unrealized
	Fair Value			Losses			Fair Value			Losses			Fair Value			Losses
		(In thousands)
Debt securities:
Puerto Rico Municipal Bonds	$	-		$	-		$	132,759		$	23,431		$	132,759		$	23,431

Held To Maturity Securities [Text Block]

		December 31, 2017
		Amortized cost										Fair value
						Gross Unrealized									Weighted-
						gains			losses						average yield%
Puerto Rico Municipal Bonds:
	After 1 to 5 years	$	3,853			$	-		$	173		$	3,680		5.38
	After 5 to 10 years		39,523				-			3,048			36,475		5.28
	After 10 years		107,251				-			16,374			90,877		4.93
Total investment securities
	held to maturity	$	150,627			$	-		$	19,595		$	131,032		5.03

		December 31, 2016
		Amortized cost									Fair value
					Gross Unrealized									Weighted-
					gains			losses						average yield%
Puerto Rico Municipal Bonds:
	After 1 to 5 years	$	1,136		$	-		$	20		$	1,116		5.38
	After 5 to 10 years		10,741			-			718			10,023		4.47
	After 10 years		144,313			-			22,693			121,620		4.74
Total investment securities
	held to maturity	$	156,190		$	-		$	23,431		$	132,759		4.73

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