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Accrued Interest Receivable and Other Assets
 12 Months Ended
Dec. 31, 2015
Accrued Interest Receivable And Other Assets [Abstract]  
Other Assets Disclosure [Text Block]

NOTE 11 — ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS

Accrued interest receivable at December 31, 2015 and 2014 consists of the following:

December 31,
20152014
(In thousands)
Loans, excluding acquired loans$16,020$17,005
Investments4,6174,340
$20,637$21,345

Other assets at December 31, 2015 and 2014 consist of the following:

December 31,
20152014
(In thousands)
FDIC receivable$-$14,974
Prepaid expenses11,76216,018
Other repossessed assets6,22621,800
Core deposit and customer relationship intangibles7,8389,743
Mortgage tax credits6,2776,277
Investment in Statutory Trust1,0831,083
Accounts receivable and other assets42,78638,830
$75,972$108,725

At December 31, 2014, the FDIC receivable included a $15.0 million receivable corresponding to the FDIC loss-share certification from the third quarter of 2014 that was received in January 2015. No FDIC receivable was recorded at December 31, 2015.

Prepaid expenses amounting to $11.8 million and $16.0 million at December 31, 2015 and 2014, respectively, include prepaid municipal, property and income taxes aggregating to $7.0 million and $9.6 million, respectively.

In connection with the FDIC-assisted acquisition and the BBVAPR Acquisition, the Company recorded a core deposit intangible representing the value of checking and savings deposits acquired. At December 31, 2015 and 2014 this core deposit intangible amounted to $5.3 million and $6.5 million, respectively. In addition, the Company recorded a customer relationship intangible representing the value of customer relationships acquired with the acquisition of the securities broker-dealer and insurance agency in the BBVAPR Acquisition. At December 31, 2015 and 2014, this customer relationship intangible amounted to $2.5 million and $3.3 million, respectively.

Other repossessed assets totaled $6.2 million and $21.8 million at December 31, 2015 and 2014, respectively, include repossessed automobiles amounting to $5.5 million and $20.7 million, respectively, which are recorded at their net realizable value.

At December 31, 2015 and 2014, tax credits for the Company totaled $6.3 million for both periods. These tax credits do not have an expiration date.