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Accrued Interest Receivable and Other Assets
 6 Months Ended
Jun. 30, 2016
Accrued Interest Receivable And Other Assets [Abstract]  
Other Assets Disclosure [Text Block]

NOTE 8 — ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS

Accrued interest receivable at June 30, 2016 and December 31, 2015 consists of the following:

June 30,December 31,
20162015
(In thousands)
Loans, excluding acquired loans$16,545$16,020
Investments3,4644,617
$20,009$20,637

Other assets at June 30, 2016 and December 31, 2015 consist of the following:

June 30,December 31,
20162015
(In thousands)
Prepaid expenses16,33211,762
Other repossessed assets3,8666,226
Core deposit and customer relationship intangibles6,9997,838
Mortgage tax credits6,2776,277
Investment in Statutory Trust1,0831,083
Accounts receivable and other assets42,25542,786
$76,812$75,972

Prepaid expenses amounting to $16.3 million and $11.8 million at June 30, 2016 and December 31, 2015, respectively, include prepaid municipal, property and income taxes aggregating to $11.2 million and $7.0 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 June 30, 2016 and December 31, 2015 this core deposit intangible amounted to $4.8 million and $5.3 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 June 30, 2016 and December 31, 2015 this customer relationship intangible amounted to $2.2 million and $2.5 million, respectively.

Other repossessed assets totaled $3.9 million at June 30, 2016 and $6.2 million at December 31, 2015, include repossessed automobiles amounting to $3.7 million and $5.5 million, respectively, which are recorded at their net realizable value.

At June 30, 2016 and December 31, 2015, mortgage tax credits for the Company totaled $6.3 million for both periods. These tax credits do not have an expiration date.