XML 20 R9.htm IDEA: XBRL DOCUMENT
v3.4.0.3

Resticted Cash | 3 Months Ended
--- | ---
Mar. 31, 2016
Restricted Cash And Investments Abstract |
Resticted Cash Disclosure | NOTE 2 – RESTRICTED CASH The following table includes the composition of the Company’s restricted cash:
| March 31, |  | December 31,
| 2016 |  | 2015
| (In thousands)
Cash pledged as collateral to other financial institutions to secure: |  |  |  |  |
Derivatives | $ | 1,980 |  | $ | 1,980
Obligations under agreement of loans sold with recourse |  | 1,369 |  |  | 1,369
| $ | 3,349 |  | $ | 3,349
At March 31, 2016 and December 31, 2015, the Bank’s international banking entities, Oriental International Bank Inc. (“OIB”) and Oriental Overseas, a division of the Bank, each held unencumbered certificates of deposit in the amount of $300 thousand as the legal reserve required for international banking entities under Puerto Rico law. Each certificate of deposit cannot be withdrawn by OIB or Oriental Overseas without prior written approval of the O ffice of the C ommissioner of F inancial I nstitutions of Puerto Rico. As part of its derivative activities, the Company has entered into collateral agreements with certain financial counterparties. At March 31, 2016 and December 31, 2015, the Company had delivered $2.0 million of cash as collateral for such derivative s activities. As part of the BBVA Acquisition, the Company assumed a contract with FNMA which required collateral to guarantee the repurchase, if necessary, of loans sold with recourse. At March 31, 2016 and December 31, 2015, the Company delivered as collateral cash amounting to $1.4 million for both periods. The Bank is required by Puerto Rico law to maintain average weekly reserve balances to cover demand deposits. The amount of those minimum average reserve balances for the week that covered March 31, 2016 was $1 52.8 million (December 31, 2015 - $14 8.9 million). At March 31, 2016 and December 31, 2015, the Bank complied with such requirement. Cash and due from bank as well as other short-term, highly liquid securities are used to cover the req uired average reserve balances.

X
- Definition The entire disclosure for assets that are restricted in their use, generally by contractual agreements or regulatory requirements. This would include, but not limited to, a description of the restricted assets and the terms of the restriction. + References No definition available. + Details
Name: | us-gaap_RestrictedAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RestrictedCashAndInvestmentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration