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Accrued Interest Receivable and Other Assets
 12 Months Ended
Dec. 31, 2016
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, 2016 and 2015 consists of the following:

December 31,
20162015
(In thousands)
Loans, excluding acquired loans$16,706$16,020
Investments3,5214,617
$20,227$20,637

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

December 31,
20162015
(In thousands)
Prepaid expenses$17,096$11,762
Other repossessed assets3,2246,226
Core deposit and customer relationship intangibles6,1607,838
Mortgage tax credits6,2776,277
Investment in Statutory Trust1,0831,083
Accounts receivable and other assets46,52542,786
$80,365$75,972

Prepaid expenses amounting to $17.1 million and $11.8 million at December 31, 2016 and 2015, respectively, include prepaid municipal, property and income taxes aggregating to $12.5 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 December 31, 2016 and 2015 this core deposit intangible amounted to $4.3 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 December 31, 2016 and 2015, this customer relationship intangible amounted to $1.9 million and $2.5 million, respectively.

Other repossessed assets totaled $3.2 million and $6.2 million at December 31, 2016 and 2015, respectively, include repossessed automobiles amounting to $3.0 million and $5.5 million, respectively, which are recorded at their net realizable value.

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