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LOAN PORTFOLIO (Tables)

9 Months Ended

Sep. 30, 2018

Loan Portfolio Held for Investment

The following provides information about the loan portfolio held for investment:

		As of September 30,			As ofDecember 31,
		2018			2017
(In thousands)
Residential mortgage loans, mainly secured by first mortgages		$	3,207,981		$	3,290,957
Commercial loans:
Construction loans (1)			82,862			111,397
Commercial mortgage loans (1)			1,506,502			1,614,972
Commercial and Industrial loans (1)(2)			2,068,256			2,083,253
Total commercial loans			3,657,620			3,809,622
Finance leases			311,180			257,462
Consumer loans			1,540,172			1,492,435
Loans held for investment			8,716,953			8,850,476
Allowance for loan and lease losses			(200,563)			(231,843)
Loans held for investment, net		$	8,516,390		$	8,618,633
(1)	During the first nine months of 2018, the Corporation transferred $74.4 million (net of fair value write-downs of $22.2 million recorded at the time of transfers) in non-performing loans to held for sale. Loans transferred to held for sale consisted of non-performing commercial mortgage loans totaling $39.6 million (net of fair value write-downs of $13.8 million), non-performing construction loans totaling $33.0 million (net of fair value write-downs of $6.7 million) and non-performing commercial and industrial loans totaling $1.8 million (net of fair value write-downs of $1.7 million). Approximately $27.2 million of the commercial mortgage loans transferred to loan held for sale were eventually sold during the second quarter and third quarters of 2018.
(2)	As of September 30, 2018 and December 31, 2017, $802.7 million and $833.5 million, respectively, of commercial loans were secured by real estate but are not dependent upon the real estate for repayment.

Loans Held for Investment on Which Accrual of Interest Income had been Discontinued

Loans held for investment on which accrual of interest income had been discontinued were as follows:
		As of			As of
		September 30,			December 31,
(In thousands)		2018			2017
Non-performing loans:
	Residential mortgage	$	156,685		$	178,291
	Commercial mortgage (1)		117,397			156,493
	Commercial and Industrial (1)		34,551			85,839
	Construction:
	Land (1)		6,922			15,026
	Construction-commercial (1)		-			35,100
	Construction-residential		2,149			1,987
	Consumer:
	Auto loans		12,258			10,211
	Finance leases		1,443			1,237
	Other consumer loans		7,963			5,370
Total non-performing loans held for investment (2)(3)(4)		$	339,368		$	489,554
(1)	During the first nine months of 2018, the Corporation transferred $74.4 million (net of fair value write-downs of $22.2 million recorded at the time of transfers) in non-performing loans to held for sale. Loans transferred to held for sale consisted of non-performing commercial mortgage loans totaling $39.6 million (net of fair value write-downs of $13.8 million), non-performing construction loans totaling $33.0 million (net of fair value write-downs of $6.7 million) and non-performing commercial and industrial loans totaling $1.8 million (net of fair value write-downs of $1.7 million). Approximately $27.2 million of the commercial mortgage loans transferred to loan held for sale were eventually sold during the second quarter and third quarters of 2018.
(2)	Excludes $44.2 million and $8.3 million of non-performing loans held for sale as of September 30, 2018 and December 31, 2017, respectively.
(3)	Amount excludes purchased-credit impaired (“PCI”) loans with a carrying value of approximately $149.1 million and $158.2 million as of September 30, 2018 and December 31, 2017, respectively, primarily mortgage loans acquired from Doral Bank in the first quarter of 2015 and from Doral Financial in the second quarter of 2014, as further discussed below. These loans are not considered non-performing due to the application of the accretion method, under which these loans will accrete interest income over the remaining life of the loans using an estimated cash flow analysis.
(4)	Non-performing loans exclude $510.8 million and $374.7 million of Troubled Debt Restructuring (“TDR”) loans that are in compliance with modified terms and in accrual status as of September 30, 2018 and December 31, 2017, respectively.

Corporation's Aging of Loans Held for Investment Portfolio

The Corporation’s aging of the loans held for investment portfolio is as follows:
														Purchased Credit-Impaired Loans
		30-59 Days Past Due			60-89 Days Past Due			90 days or more Past Due (1)(2)(3)			Total Past Due									Total loans held for investment			90 days past due and still accruing (1)(2)(3)
As of September 30, 2018
(In thousands)																	Current
Residential mortgage:
FHA/VA government-guaranteed loans (2) (3) (4)		$	-		$	3,206		$	107,869		$	111,075		$	-		$	39,696		$	150,771		$	107,869
Other residential mortgage loans (2)(4)			-			64,015			171,893			235,908			145,203			2,676,099			3,057,210			15,208
Commercial:
Commercial and Industrial loans			1,729			392			38,998			41,119			-			2,027,137			2,068,256			4,447
Commercial mortgage loans (4)			-			1,192			120,456			121,648			3,919			1,380,935			1,506,502			3,059
Construction:
Land (4)			-			51			6,922			6,973			-			14,331			21,304			-
Construction-commercial			-			1,089			-			1,089			-			52,881			53,970			-
Construction-residential			-			-			2,149			2,149			-			5,439			7,588			-
Consumer:
Auto loans			35,122			7,047			12,258			54,427			-			840,801			895,228			-
Finance leases			5,451			1,839			1,443			8,733			-			302,447			311,180			-
Other consumer loans			7,773			4,885			11,673			24,331			-			620,613			644,944			3,710
Total loans held for investment		$	50,075		$	83,716		$	473,661		$	607,452		$	149,122		$	7,960,379		$	8,716,953		$	134,293
_____________
(1)	Includes non-performing loans and accruing loans that were contractually delinquent 90 days or more (i.e., FHA/VA guaranteed loans and credit cards). Credit card loans continue to accrue finance charges and fees until charged-off at 180 days.
(2)	It is the Corporationʼs policy to report delinquent residential mortgage loans insured by the FHA, guaranteed by the VA, and other government-insured loans as past-due loans 90 days and still accruing as opposed to non-performing loans since the principal repayment is insured. These balances include $33.9 million of residential mortgage loans insured by the FHA that were over 15 months delinquent, and were no longer accruing interest as of September 30, 2018, taking into consideration the FHA interest curtailment process.
(3)	As of September 30, 2018, includes $75.9 million of defaulted loans collateralizing GNMA securities for which the Corporation has an unconditional option (but not an obligation) to repurchase the defaulted loans.
(4)	According to the Corporationʼs delinquency policy and consistent with the instructions for the preparation of the Consolidated Financial Statements for Bank Holding Companies (FR Y-9C) required by the Federal Reserve Board, residential mortgage, commercial mortgage, and construction loans are considered past due when the borrower is in arrears on two or more monthly payments. FHA/VA government-guaranteed loans, other residential mortgage loans, commercial mortgage loans and land loans past due 30-59 days as of September 30, 2018 amounted to $7.0 million, $108.1 million, $4.2 million and $0.1 million, respectively.

As of December 31, 2017		30-59 Days Past Due			60-89 Days Past Due			90 days or more Past Due (1)(2)(3)												Total loans held for investment			90 days past due and still accruing (1)(2)(3)
(In thousands)												Total Past Due			Purchased Credit- Impaired Loans			Current
Residential mortgage:
FHA/VA government-guaranteed loans (2) (3) (4)		$	-		$	6,792		$	102,815		$	109,607		$	-		$	29,332		$	138,939		$	102,815
Other residential mortgage loans (2)(4)			-			92,502			193,750			286,252			153,991			2,711,775			3,152,018			15,459
Commercial:
Commercial and Industrial loans			8,971			576			88,156			97,703			-			1,985,550			2,083,253			2,317
Commercial mortgage loans (4)			-			7,525			163,180			170,705			4,183			1,440,084			1,614,972			6,687
Construction:
Land (4)			-			124			15,177			15,301			-			11,630			26,931			151
Construction-commercial			-			-			35,100			35,100			-			41,456			76,556			-
Construction-residential			-			95			1,987			2,082			-			5,828			7,910			-
Consumer:
Auto loans			57,560			23,783			10,211			91,554			-			752,777			844,331			-
Finance leases			10,549			3,484			1,237			15,270			-			242,192			257,462			-
Other consumer loans			10,776			5,052			9,361			25,189			-			622,915			648,104			3,991
Total loans held for investment		$	87,856		$	139,933		$	620,974		$	848,763		$	158,174		$	7,843,539		$	8,850,476		$	131,420
____________
(1)	Includes non-performing loans and accruing loans that were contractually delinquent 90 days or more (i.e., FHA/VA guaranteed loans and credit cards). Credit card loans continue to accrue finance charges and fees until charged-off at 180 days.
(2)	It is the Corporationʼs policy to report delinquent residential mortgage loans insured by the FHA, guaranteed by the VA, and other government-insured loans as past-due loans 90 days and still accruing as opposed to non-performing loans since the principal repayment is insured. These balances include $29.9 million of residential mortgage loans insured by the FHA that were over 15 months delinquent, and were no longer accruing interest as of December 31, 2017, taking into consideration the FHA interest curtailment process.
(3)	As of December 31, 2017, includes $62.1 million of defaulted loans collateralizing GNMA securities for which the Corporation has an unconditional option (but not an obligation) to repurchase the defaulted loans.
(4)	According to the Corporationʼs delinquency policy and consistent with the instructions for the preparation of the Consolidated Financial Statements for Bank Holding Companies (FR Y-9C) required by the Federal Reserve Board, residential mortgage, commercial mortgage, and construction loans are considered past due when the borrower is in arrears on two or more monthly payments. FHA/VA government-guaranteed loans, other residential mortgage loans, commercial mortgage loans, and land loans past due 30-59 days as of December 31, 2017 amounted to $6.0 million, $224.0 million, $9.0 million, and $2.5 million, respectively.

Corporation's Credit Quality Indicators by Loan

The Corporation’s credit quality indicators by loan type as of September 30, 2018 and December 31, 2017 are summarized below:
		Commercial Credit Exposure - Credit Risk Profile Based on Creditworthiness Category:
		Substandard			Doubtful			Loss			Total Adversely Classified (1)			Total Portfolio
September 30, 2018
(In thousands)
Commercial mortgage		$	262,519		$	7,927		$	-		$	270,446		$	1,506,502
Construction:
Land			5,658			-			-			5,658			21,304
Construction - commercial			3,458			-			-			3,458			53,970
Construction - residential			1,194			-			-			1,194			7,588
Commercial and Industrial			96,993			4,659			394			102,046			2,068,256
		Commercial Credit Exposure - Credit Risk Profile Based on Creditworthiness Category:
		Substandard			Doubtful			Loss			Total Adversely Classified (1)			Total Portfolio
December 31, 2017
(In thousands)
Commercial mortgage		$	257,503		$	4,166		$	-		$	261,669		$	1,614,972
Construction:
Land			15,971			490			-			16,461			26,931
Construction - commercial			35,100			-			-			35,100			76,556
Construction - residential			1,987			-			-			1,987			7,910
Commercial and Industrial			154,416			3,854			676			158,946			2,083,253
_________
(1)	Excludes non-performing loans held for sale of $44.2 million ($12.4 million commercial mortgage, $30.0 million construction-commercial, and $1.8 million construction-land) and $8.3 million (construction-land) as of September 30, 2018 and December 31, 2017, respectively.

		Consumer Credit Exposure - Credit Risk Profile Based on Payment Activity
		Residential Real Estate						Consumer
September 30, 2018		FHA/VA/ Guaranteed (1)			Other residential loans			Auto			Finance Leases			Other Consumer
(In thousands)
Performing		$	150,771		$	2,755,322		$	882,970		$	309,737		$	636,981
Purchased Credit-Impaired (2)			-			145,203			-			-			-
Non-performing			-			156,685			12,258			1,443			7,963
Total		$	150,771		$	3,057,210		$	895,228		$	311,180		$	644,944
(1)	It is the Corporationʼs policy to report delinquent residential mortgage loans insured by the FHA, guaranteed by the VA, and other government-insured loans as 90 days past-due loans and still accruing as opposed to non-performing loans since the principal repayment is insured. This balance includes $33.9 million of residential mortgage loans insured by the FHA that were over 15 months delinquent, and were no longer accruing interest as of September 30, 2018, taking into consideration the FHA interest curtailment process.
(2)	PCI loans are excluded from non-performing statistics due to the application of the accretion method, under which these loans will accrete interest income over the remaining life of the loans using estimated cash flow analyses.
		Consumer Credit Exposure - Credit Risk Profile Based on Payment Activity
			Residential Real Estate					Consumer
December 31, 2017		FHA/VA/ Guaranteed (1)			Other residential loans			Auto			Finance Leases			Other Consumer
(In thousands)
Performing		$	138,939		$	2,819,736		$	834,120		$	256,225		$	642,734
Purchased Credit-Impaired (2)			-			153,991			-			-			-
Non-performing			-			178,291			10,211			1,237			5,370
Total		$	138,939		$	3,152,018		$	844,331		$	257,462		$	648,104
(1)	It is the Corporationʼs policy to report delinquent residential mortgage loans insured by the FHA, guaranteed by the VA, and other government-insured loans as 90 days past-due loans and still accruing as opposed to non-performing loans since the principal repayment is insured. This balance includes $29.9 million of residential mortgage loans insured by the FHA that were over 15 months delinquent, and were no longer accruing interest as of December 31, 2017, taking into consideration the FHA interest curtailment process.
(2)	PCI loans are excluded from non-performing statistics due to the application of the accretion method, under which these loans will accrete interest income over the remaining life of the loans using estimated cash flow analyses.

Impaired Loans

The following tables present information about impaired loans held for investment, excluding PCI loans, which are reported separately as discussed below:

Impaired Loans
										Impaired Loans
		Impaired Loans - With a Related Specific Allowance								With No Related Specific Allowance						Impaired Loans Total
	Recorded Investment			Unpaid Principal Balance			Related Specific Allowance			Recorded Investment			Unpaid Principal Balance			Recorded Investment			Unpaid Principal Balance			Related Specific Allowance
(In thousands)
As of September 30, 2018
FHA/VA-Guaranteed loans	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Other residential mortgage loans		291,419			321,120			18,482			117,375			159,220			408,794			480,340			18,482
Commercial:
Commercial mortgage loans		169,787			184,019			17,044			73,433			79,245			243,220			263,264			17,044
Commercial and Industrial loans		62,361			74,519			10,798			34,793			52,776			97,154			127,295			10,798
Construction:
Land		4,972			5,872			750			160			337			5,132			6,209			750
Construction-commercial		-			-			-			-			-			-			-			-
Construction-residential		809			942			156			956			1,531			1,765			2,473			156
Consumer:
Auto loans		18,623			18,623			3,664			269			269			18,892			18,892			3,664
Finance leases		1,372			1,372			122			-			-			1,372			1,372			122
Other consumer loans		9,761			10,498			2,297			1,920			2,281			11,681			12,779			2,297
	$	559,104		$	616,965		$	53,313		$	228,906		$	295,659		$	788,010		$	912,624		$	53,313

										Impaired Loans
		Impaired Loans - With a Related Specific Allowance								With No Related Specific Allowance						Impaired Loans Total
	Recorded Investment			Unpaid Principal Balance			Related Specific Allowance			Recorded Investment			Unpaid Principal Balance			Recorded Investment			Unpaid Principal Balance			Related Specific Allowance
(In thousands)
As of December 31, 2017
FHA/VA-Guaranteed loans	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Other residential mortgage loans		316,616			349,284			22,086			116,818			154,048			433,434			503,332			22,086
Commercial:
Commercial mortgage loans		87,814			124,084			9,783			65,100			100,612			152,914			224,696			9,783
Commercial and Industrial loans		90,008			112,005			12,359			28,292			31,254			118,300			143,259			12,359
Construction:
Land		11,865			19,973			1,402			48			49			11,913			20,022			1,402
Construction-commercial		35,101			38,595			560			-			-			35,101			38,595			560
Construction-residential		252			355			55			-			-			252			355			55
Consumer:
Auto loans		22,338			22,338			3,665			267			267			22,605			22,605			3,665
Finance leases		2,184			2,184			104			-			-			2,184			2,184			104
Other consumer loans		11,084			11,830			1,396			2,521			3,688			13,605			15,518			1,396
	$	577,262		$	680,648		$	51,410		$	213,046		$	289,918		$	790,308		$	970,566		$	51,410

	Average Recorded Investment			Interest Income on Accrual Basis			Interest Income on Cash Basis			Total Interest Income
(In thousands)
For the quarter ended September 30, 2018
FHA/VA-Guaranteed loans	$	-		$	-		$	-		$	-
Other residential mortgage loans		411,393			4,641			410			5,051
Commercial:
Commercial mortgage loans		244,802			2,198			656			2,854
Commercial and Industrial loans		98,903			557			2			559
Construction:
Land		5,204			23			5			28
Construction-commercial		-			-			-			-
Construction-residential		1,766			-			-			-
Consumer:
Auto loans		19,479			362			-			362
Finance leases		1,444			27			-			27
Other consumer loans		11,925			274			53			327
	$	794,916		$	8,082		$	1,126		$	9,208

	Average Recorded Investment			Interest Income on Accrual Basis			Interest Income on Cash Basis			Total Interest Income
(In thousands)
For the quarter ended September 30, 2017
FHA/VA-Guaranteed loans	$	-		$	-		$	-		$	-
Other residential mortgage loans		427,858			4,409			402			4,811
Commercial:
Commercial mortgage loans		158,438			764			85			849
Commercial and Industrial loans		110,184			454			174			628
Construction:
Land		14,634			122			9			131
Construction-commercial		35,520			-			-			-
Construction-residential		252			-			-			-
Consumer:
Auto loans		24,049			462			-			462
Finance leases		2,354			43			-			43
Other consumer loans		14,268			388			40			428
	$	787,557		$	6,642		$	710		$	7,352

	Average Recorded Investment			Interest Income on Accrual Basis			Interest Income on Cash Basis			Total Interest Income
(In thousands)
Nine-month Period Ended September 30, 2018
FHA/VA-Guaranteed loans	$	-		$	-		$	-		$	-
Other residential mortgage loans		415,561			13,369			1,080			14,449
Commercial:
Commercial mortgage loans		248,919			2,775			2,038			4,813
Commercial and Industrial loans		102,410			1,438			6			1,444
Construction:
Land		5,260			70			20			90
Construction-commercial		-			-			-			-
Construction-residential		1,765			-			-			-
Consumer:
Auto loans		20,527			1,122			-			1,122
Finance leases		1,582			84			-			84
Other consumer loans		12,353			754			127			881
	$	808,377		$	19,612		$	3,271		$	22,883

	Average Recorded Investment			Interest Income on Accrual Basis			Interest Income on Cash Basis			Total Interest Income
(In thousands)
Nine-Month Period Ended September 30, 2017
FHA/VA-Guaranteed loans	$	-		$	-		$	-		$	-
Other residential mortgage loans		431,741			13,170			1,548			14,718
Commercial:
Commercial mortgage loans		176,757			1,621			287			1,908
Commercial and Industrial loans		112,642			952			211			1,163
Construction:
Land		14,800			358			32			390
Construction-commercial		36,101			-			-			-
Construction-residential		252			-			-			-
Consumer:
Auto loans		25,274			1,357			-			1,357
Finance leases		2,532			140			-			140
Other consumer loans		14,441			1,027			105			1,132
	$	814,540		$	18,625		$	2,183		$	20,808

Activity for Impaired loans

The following tables show the activity for impaired loans and the related specific reserve for the quarters and nine-month periods ended September 30, 2018 and 2017:
						Quarter Ended						Nine-Month Period Ended
						September 30,						September 30,
							2018			2017			2018			2017
(In thousands)
Impaired Loans:
Balance at beginning of period						$	740,134		$	735,625		$	790,308		$	887,905
Loans determined impaired during the period							119,064			71,884			214,745			110,488
Charge-offs (1)(2)							(18,035)			(6,472)			(48,455)			(66,959)
Loans sold, net of charge-offs							-			-			(4,121)			(53,245)
Increases to existing impaired loans							128			3,215			7,203			4,454
Foreclosures							(8,293)			(5,657)			(27,745)			(36,347)
Loans no longer considered impaired							(1,146)			(542)			(5,086)			(3,324)
Loans transferred to held for sale							(16,839)			-			(74,052)			-
Paid in full, partial payments and other							(27,003)			(18,794)			(64,787)			(63,713)
Balance at end of period						$	788,010		$	779,259		$	788,010		$	779,259
(1)	For the quarter ended September 30, 2018, includes charge-offs totaling $12.5 million associated with the $17.2 million in non-performing loans transferred to held for sale in the third quarter of 2018.
(2)	For the nine-month period ended September 30, 2018, includes charge-offs totaling $22.2 million associated with the $74.4 million in non-performing loans transferred to held for sale during the first nine-months of 2018.

Activity for Specific Reserve

					Quarter Ended						Nine-Month Period Ended
					September 30,						September 30,
					2018			2017			2018			2017
(In thousands)
Specific Reserve:
Balance at beginning of period					$	49,514		$	40,794		$	51,410			64,421
Provision for loan losses						21,821			13,819			50,277			50,014
Net charge-offs						(18,022)			(6,458)			(48,374)			(66,280)
Balance at end of period					$	53,313		$	48,155		$	53,313		$	48,155

Carrying Value of Acquired Loans

The carrying amounts of PCI loans were as follows:
		As of
		September 30,			December 31,
		2018			2017
(In thousands)
Residential mortgage loans		$	145,203		$	153,991
Commercial mortgage loans			3,919			4,183
Total PCI loans		$	149,122		$	158,174
Allowance for loan losses			(11,354)			(11,251)
Total PCI loans, net of allowance for loan losses		$	137,768		$	146,923

Accretable Yield

Changes in the accretable yield of PCI loans for the quarters and nine-month periods ended September 30, 2018 and 2017 were as follows:
	Quarter Ended						Nine-Month Period Ended
	September 30,			September 30,			September 30,			September 30,
	2018			2017			2018			2017
(In thousands)
Balance at beginning of period	$	98,489		$	108,971		$	103,682		$	116,462
Accretion recognized in earnings		(2,524)			(2,656)			(7,717)			(8,177)
Reclassification (to) from non-accretable		-			-			-			(1,970)
Balance at end of period	$	95,965		$	106,315		$	95,965		$	106,315

Selected Information on TDRs Includes Recorded Investment by Loan Class and Modification Type

Selected information on TDR loans held for investment that included the recorded investment by loan class and modification type is summarized in the following tables. This information reflects all TDRs held for investment:
		September 30, 2018
		Interest rate below market			Maturity or term extension			Combination of reduction in interest rate and extension of maturity			Forgiveness of principal and/or interest			Forbearance Agreement			Other (1)			Total
(In thousands)
Troubled Debt Restructurings:
Non - FHA/VA residential mortgage loans		$	24,053		$	11,496		$	245,022		$	-		$	158		$	59,540		$	340,269
Commercial Mortgage loans (2)			4,400			30,980			124,493			-			-			9,332			169,205
Commercial and Industrial loans (3)			688			19,963			13,323			-			4,225			41,512			79,711
Construction loans:
Land			16			104			2,016			-			-			339			2,475
Construction-commercial (4)			-			3,102			-			-			-			217			3,319
Construction-residential			-			-			-			-			-			-			-
Consumer loans - Auto			-			1,627			11,066			-			-			6,199			18,892
Finance leases			-			116			1,256			-			-			-			1,372
Consumer loans - Other			1,299			1,398			5,772			228			-			1,780			10,477
Total Troubled Debt Restructurings		$	30,456		$	68,786		$	402,948		$	228		$	4,383		$	118,919		$	625,720
(1)	Other concessions granted by the Corporation included deferral of principal and/or interest payments for a period longer than what would be considered insignificant, payment plans under judicial stipulation, or a combination of the concessions listed in the table.
(2)	Excludes commercial mortgage TDR loans held for sale amounting to $3.6 million as of September 30, 2018.
(3)	Excludes commercial and industrial TDR loans held for sale amounting to $0.9 million as of September 30, 2018.
(4)	Excludes a construction TDR loan held for sale of $27.0 million as of September 30, 2018.

		December 31, 2017
		Interest rate below market			Maturity or term extension			Combination of reduction in interest rate and extension of maturity			Forgiveness of principal and/or interest			Forbearance Agreement			Other (1)			Total
(In thousands)
Troubled Debt Restructurings:
Non - FHA/VA residential mortgage loans		$	25,964		$	8,318		$	267,578		$	-		$	-		$	62,070		$	363,930
Commercial Mortgage loans			6,563			2,094			31,870			-			-			10,285			50,812
Commercial and Industrial loans			2,510			20,648			16,049			-			6,623			48,282			94,112
Construction loans:
Land			18			3,941			2,186			-			-			331			6,476
Construction-commercial			-			-			-			35,100			-			-			35,100
Construction-residential			-			-			-			-			-			217			217
Consumer loans - Auto			-			1,347			14,233			-			-			7,025			22,605
Finance leases			-			238			1,946			-			-			-			2,184
Consumer loans - Other			892			2,097			6,891			217			-			1,686			11,783
Total Troubled Debt Restructurings		$	35,947		$	38,683		$	340,753		$	35,317		$	6,623		$	129,896		$	587,219
(1)	Other concessions granted by the Corporation included deferral of principal and/or interest payments for a period longer than what would be considered insignificant, payment plans under judicial stipulation or a combination of the concessions listed in the table.

Corporation's TDR Activity

	The following table presents the Corporationʼs TDR loans held for investment activity:
				Quarter Ended							Nine-Month Period Ended
				September 30,							September 30,
				2018				2017			2018				2017
(In thousands)
Beginning balance of TDRs				$	557,196			$	568,543		$	587,219			$	647,048
New TDRs					107,357				29,101			164,004				83,368
Increases to existing TDRs					78				2,650			6,924				3,404
Charge-offs post modification (1)(2)(3)					(7,549)				(2,949)			(25,336)				(26,976)
Sales, net of charge-offs					-				-			-				(53,245)
Foreclosures					(4,898)				(3,564)			(15,700)				(24,085)
TDR transferred to held for sale, net of charge-offs					(4,541)				-			(34,541)				-
Paid-off, partial payments and other					(21,923)				(7,986)			(56,850)				(43,719)
Ending balance of TDRs				$	625,720			$	585,795		$	625,720			$	585,795
(1)	The quarter ended September 30, 2018 includes charge-offs of $3.4 million associated with $4.5 million in commercial loans transferred to held for sale.
(2)	The nine-month period ended September 30, 2018 includes charge-offs totaling $8.5 million associated with $34.5 in million commercial and construction loans transferred to held for sale.
(3)	The nine-month period ended September 30, 2017 includes a charge-off of $10.7 million related to the sale of the PREPA credit line.

Breakdown Between Accrual and Nonaccrual Status of TDRs

The following table provides a breakdown of the TDR loans held for investment by those in accrual and nonaccrual status:
		As of September 30, 2018
		Accrual			Nonaccrual (1)			Total TDRs
(In thousands)
Non-FHA/VA residential mortgage loans		$	270,067		$	70,202		$	340,269
Commercial Mortgage loans (2)			146,293			22,912			169,205
Commercial and Industrial loans (3)			70,416			9,295			79,711
Construction loans:
Land			1,080			3,939			5,019
Construction-commercial (4)			-			-			-
Construction-residential			-			775			775
Consumer loans - Auto			12,541			6,350			18,891
Finance leases			1,273			99			1,372
Consumer loans - Other			9,176			1,302			10,478
Total Troubled Debt Restructurings		$	510,846		$	114,874		$	625,720
(1)	Included in non-accrual loans are $20.7 million in loans that were performing under the terms of the restructuring agreement but are reported in nonaccrual status until the restructured loans meet the criteria of sustained payment performance under the revised terms for reinstatement to accrual status and are deemed fully collectible.
(2)	Excludes commercial mortgage TDR loans held for sale amounting to $3.6 million as of September 30, 2018.
(3)	Excludes commercial and industrial TDR loans held for sale amounting to $0.9 million as of September 30, 2018.
(4)	Excludes a construction TDR loan held for sale of $27.0 million as of September 30, 2018.

		As of December 31, 2017
		Accrual			Nonaccrual (1)			Total TDRs
(In thousands)
Non-FHA/VA residential mortgage loans		$	280,729		$	83,201		$	363,930
Commercial Mortgage loans			23,329			27,483			50,812
Commercial and Industrial loans			41,536			52,576			94,112
Construction loans:
Land			1,291			5,185			6,476
Construction-commercial			-			35,100			35,100
Construction-residential			-			217			217
Consumer loans - Auto			15,548			7,057			22,605
Finance leases			1,968			216			2,184
Consumer loans - Other			10,294			1,489			11,783
Total Troubled Debt Restructurings		$	374,695		$	212,524		$	587,219
(1)	Included in non-accrual loans are $88.6 million in loans that were performing under the terms of the restructuring agreement but are reported in non-accrual status until the restructured loans meet the criteria of sustained payment performance under the revised terms for reinstatement to accrual status and are deemed fully collectible.

Schedule Of Troubled Debt Restructurings Table [Text Block]

TDR loans exclude restructured residential mortgage loans that are government-guaranteed (e.g., FHA/VA loans) totaling $60.7 million as of September 30, 2018 (compared with $62.1 million as of December 31, 2017). The Corporation excludes FHA/VA guaranteed loans from TDR loan statistics given that, in the event that the borrower defaults on the loan, the principal and interest (at the specified debenture rate) are guaranteed by the U.S. government; therefore, the risk of loss on these types of loans is very low. The Corporation does not consider loans with U.S. federal government guarantees to be impaired loans for the purpose of calculating the allowance for loan and lease losses.

Loan modifications that are considered TDR loans completed during the quarters and nine-month periods ended September 30, 2018 and 2017, were as follows:

	Quarter Ended September 30, 2018
	Number of contracts		Pre-modification Outstanding Recorded Investment			Post-Modification Outstanding Recorded Investment
(Dollars in thousands)
Troubled Debt Restructurings:
Non-FHA/VA residential mortgage loans	27		$	6,316		$	5,729
Commercial Mortgage loans	4			96,088			95,867
Commercial and Industrial loans	2			2,800			2,786
Construction loans:
Construction-residential	1			587			558
Consumer loans - Auto	74			1,281			1,281
Finance leases	5			82			80
Consumer loans - Other	198			1,038			1,056
Total Troubled Debt Restructurings	311		$	108,192		$	107,357
	Nine-Month Period Ended September 30, 2018
	Number of contracts		Pre-modification Outstanding Recorded Investment			Post-Modification Outstanding Recorded Investment
(Dollars in thousands)
Troubled Debt Restructurings:
Non-FHA/VA residential mortgage loans	70		$	10,958		$	10,277
Commercial Mortgage loans	9			138,599			138,390
Commercial and Industrial loans	8			8,850			8,496
Construction loans:
Land	1			97			97
Construction-residential	1			587			558
Consumer loans - Auto	195			3,206			3,200
Finance leases	5			82			80
Consumer loans - Other	565			2,857			2,906
Total Troubled Debt Restructurings	854		$	165,236		$	164,004

	Quarter Ended September 30, 2017
	Number of contracts		Pre-Modification Outstanding Recorded Investment			Post-Modification Outstanding Recorded Investment
(Dollars in thousands)
Troubled Debt Restructurings:
Non-FHA/VA residential mortgage loans	25		$	3,358		$	3,358
Commercial Mortgage loans	4			2,569			2,318
Commercial and Industrial loans	8			21,079			21,019
Construction loans:
Land	1			18			18
Consumer loans - Auto	109			1,568			1,568
Consumer loans - Other	199			796			820
Total Troubled Debt Restructurings	346		$	29,388		$	29,101
	Nine-Month Period Ended September 30, 2017
	Number of contracts		Pre-Modification Outstanding Recorded Investment			Post-Modification Outstanding Recorded Investment
(Dollars in thousands)
Troubled Debt Restructurings:
Non-FHA/VA residential mortgage loans	113		$	17,585		$	17,349
Commercial Mortgage loans	12			25,274			24,783
Commercial and Industrial loans	13			32,153			32,093
Construction loans:
Land	2			43			46
Consumer loans - Auto	383			5,741			5,741
Finance leases	22			548			548
Consumer loans - Other	602			2,756			2,808
Total Troubled Debt Restructurings	1,147		$	84,100		$	83,368

Loan Modifications Considered Troubled Debt Restructurings Defaulted

	Quarter Ended September 30,
	2018					2017
	Number of contracts		Recorded Investment			Number of contracts		Recorded Investment
(Dollars in thousands)
Non-FHA/VA residential mortgage loans	3		$	338		16		$	1,795
Consumer loans - Auto	34			559		4			59
Consumer loans - Other	18			59		53			223
Total	55		$	956		73		$	2,077

	Nine-Month Period Ended September 30,
	2018					2017
	Number of contracts		Recorded Investment			Number of contracts		Recorded Investment
(Dollars in thousands)
Non-FHA/VA residential mortgage loans	13		$	1,406		38		$	4,686
Commercial Mortgage loans	-			-		1			57
Consumer loans - Auto	67			1,096		13			189
Consumer loans - Other	57			213		99			387
Finance leases	1			22		-			-
Total	138		$	2,737		151		$	5,319

Loan Restructuring and Effect on Allowance for Loan and Lease Losses

The following table provides additional information about the volume of this type of loan restructuring as of September 30, 2018 and 2017 and the effect on the allowance for loan and lease losses in the first nine months of 2018 and 2017:

	September 30, 2018				September 30, 2017
(In thousands)
Principal balance deemed collectible at end of period	$	65,706		$	35,603
Amount charged off	$	1,137		$	-
Charges (release) to the provision for loan losses	$	1,407		$	(1,080)
Allowance for loan losses at end of period	$	4,116		$	4,061

Approximately $63.1 million of the loans restructured using the A/B note restructure workout strategy were in accrual status as of September 30, 2018. These loans continue to be individually evaluated for impairment purposes.

Past Due Purchased Credit Impaired Table [Text Block]

The following tables present PCI loans by past due status as of September 30, 2018 and December 31, 2017:
As of September 30, 2018		30-59 Days			60-89 Days			90 days or more			Total Past Due							Total PCI loans
															Current
(In thousands)
Residential mortgage loans		$	-		$	7,823		$	28,179		$	36,002			$	109,201		$	145,203
Commercial mortgage loans			-			-			2,960			2,960				959			3,919
Total (1)		$	-		$	7,823		$	31,139		$	38,962			$	110,160		$	149,122
_____________
(1)	According to the Corporationʼs delinquency policy and consistent with the instructions for the preparation of the Consolidated Financial Statements for Bank Holding Companies (FR Y-9C) required by the Federal Reserve Board, residential mortgage and commercial mortgage loans are considered past due when the borrower is in arrears two or more monthly payments. PCI residential mortgage loans past due 30-59 days as of September 30, 2018 amounted to $12.3 million. No PCI commercial mortgage loan was 30-59 days past due as of September 30, 2018.
As of December 31, 2017		30-59 Days			60-89 Days			90 days or more			Total Past Due							Total PCI loans
															Current
(In thousands)
Residential mortgage loans		$	-		$	16,600		$	26,471		$	43,071			$	110,920		$	153,991
Commercial mortgage loans			-			355			2,834			3,189				994			4,183
Total (1)		$	-		$	16,955		$	29,305		$	46,260			$	111,914		$	158,174
(1)	According to the Corporationʼs delinquency policy and consistent with the instructions for the preparation of the Consolidated Financial Statements for Bank Holding Companies (FR Y-9C) required by the Federal Reserve Board, residential mortgage and commercial mortgage loans are considered past due when the borrower is in arrears two or more monthly payments. PCI residential mortgage loans and commercial mortgage loans past due 30-59 days as of December 31, 2017 amounted to $28.1 million and $0.2 million, respectively.

Changes In Carrying Amount Of Purchased Credit Impaired Loans Table [Text Block]

Changes in the carrying amount of PCI loans accounted for pursuant to ASC Topic 310-30 were as follows:
			Quarter Ended						Nine-Month Period Ended
			September 30, 2018			September 30, 2017			September 30, 2018			September 30, 2017
(In thousands)
Balance at beginning of period			$	152,242		$	160,368		$	158,174		$	165,818
Accretion				2,524			2,656			7,717			8,177
Collections				(4,835)			(4,225)			(12,590)			(13,327)
Foreclosures				(809)			(1,005)			(4,179)			(2,874)
Ending balance			$	149,122		$	157,794		$	149,122		$	157,794
Allowance for loan losses				(11,354)			(10,235)			(11,354)			(10,235)
Ending balance, net of allowance for loan losses			$	137,768		$	147,559		$	137,768		$	147,559

Allowance For Credit Losses On Purchased Credit Impaired Loans Table [Text Block]

Changes in the allowance for loan losses related to PCI loans were as follows:
			Quarter Ended						Nine-Month Period Ended
			September 30, 2018			September 30, 2017			September 30, 2018			September 30, 2017
(In thousands)
Balance at beginning of period			$	11,354		$	9,446		$	11,251		$	6,857
Provision for loan losses				-			789			103			3,378
Balance at the end of period			$	11,354		$	10,235		$	11,354		$	10,235

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