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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Taxes [Abstract]

Schedule Of Components Of Income Tax Expense Benefit Table Text Block

The components of income tax expense (benefit) for the years ended December 31, 2014, 2013 and 2012 are as follows

		Year Ended December 31,
		2014			2013				2012
		(In thousands)
Current income tax expense		$	13,097		$	2,357		$	1,788
Deferred income tax expense (benefit)			24,155			(11,066)			1,513
Total income tax expense (benefit)		$	37,252		$	(8,709)		$	3,301

Schedule Of Effective Income Tax Rate Reconciliation Table Text Block

The Company's income tax expense differs from amounts computed by applying the applicable statutory rate to income before income taxes as follows

	Year Ended December 31,
	2014					2013					2012
	Amount			Rate		Amount			Rate		Amount			Rate
	(Dollars in thousands)
Tax at statutory rates	$	47,749		39.00%		$	34,997		39.00%		$	8,357		30.00%
Tax effect of exempt income, net		(10,002)		-26.85%			(4,652)		-4.90%			(3,461)		-12.42%
Effect of tax rate on capital loss carryforwards		-		0.00%			840		0.94%			(4,361)		-15.66%
Disallowed net operating loss carryover		8,289		22.25%			-		0.00%			-		0.00%
Change in valuation allowance		(958)		-2.57%			1,896		2.11%			(554)		-1.99%
Income tax contingencies provision (credit)		(1,093)		-2.94%			(1,559)		-1.57%			114		0.41%
Effect in deferred taxes due to increase in tax rates
from 30.00% to 39.00%		-		0.00%			(38,068)		-43.04%			-		0.00%
Loan tax basis change effect		(7,642)		-20.51%			-		0.00%			-		0.00%
Effect of change in tax of IBE		-		0.00%			148		0.17%			2,383		8.55%
Other items, net		909		2.00%			(2,311)		-2.58%			823		2.96%
Income tax expense (benefit)	$	37,252		10.82%		$	(8,709)		-9.70%		$	3,301		11.85%

Summary Of Income Tax Contingencies Text Block

The following table presents a reconciliation of unrecognized tax benefits

	Year Ended December 31,
	2014			2013			2012
	(In thousands)
Balance at beginning of year	$	4,042		$	5,452		$	1,389
Additions for tax positions of prior years		187			287			114
Additions for tax positions related to BBVAPR Acquisition		-			-			3,949
Reduction for tax positions as a result of settlements		(1,388)			-			-
Reduction for tax positions as a result of lapse of statute of limitations		(281)			(1,697)			-
Balance at end of year	$	2,560		$	4,042		$	5,452

Schedule Of Deferred Tax Assets And Liabilities Table Text Block

	December 31,
	2014			2013
	(In thousands)
Deferred tax asset:
Allowance for loan and lease losses and other reserves	$	90,090		$	87,248
Loans and other real estate valuation adjustment		9,295			3,955
Net capital and operating loss carry forwards		28,973			35,829
Alternative minimum tax		16,208			425
Deposit and borrowings valuation adjustment		390			2,251
Unrealized net loss included in other comprehensive income		3,273			4,229
S&P option contracts		1,882			7,329
Acquired portfolio		46,146			55,876
Other assets allowances		1,424			1,727
Acquired software related to BBVAPR Acquisition		-			3,011
Other deferred tax assets		6,262			9,270
Total gross deferred tax asset		203,943			211,150
Deferred tax liability:
FDIC shared-loss indemnification asset		(21,809)			(20,783)
FDIC-assisted acquisition		(40,740)			(15,021)
Customer deposit and customer relationship intangibles		(3,800)			(4,646)
Loans and building valuation adjustment		(11,656)			(17,425)
Unrealized net gain on available-for-sale securities		(3,799)			(1,454)
Servicing asset		(5,457)			(5,374)
Other deferred tax liabilities		(2,703)			(4,570)
Total gross deferred tax liabilities		(89,964)		$	(69,273)
Less: valuation allowance		(5,271)			(4,313)
Net deferred tax asset	$	108,708		$	137,564

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 9

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

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-Paragraph 12

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Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 15

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