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Accrued Interest Receivable and Other Assets
 3 Months Ended
Mar. 31, 2017
Accrued Interest Receivable And Other Assets [Abstract]  
Other Assets Disclosure [Text Block]

NOTE 8 — ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS

Accrued interest receivable at March 31, 2017 and December 31, 2016 consists of the following:

March 31,December 31,
20172016
(In thousands)
Loans, excluding acquired loans$14,772$16,706
Investments3,7833,521
$18,555$20,227

Other assets at March 31, 2017 and December 31, 2016 consist of the following:

March 31,December 31,
20172016
(In thousands)
Prepaid expenses$15,496$17,096
Other repossessed assets3,2693,224
Core deposit and customer relationship intangibles5,7926,160
Mortgage tax credits6,2776,277
Investment in Statutory Trust1,0831,083
Accounts receivable and other assets35,66246,525
$67,579$80,365

Prepaid expenses amounting to $15.5 million and $17.1 million at March 31, 2017 and December 31, 2016, respectively, include prepaid municipal, property and income taxes aggregating to $11.4 million and $12.5 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 March 31, 2017 and December 31, 2016 this core deposit intangible amounted to $4.0 million and $4.3 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 March 31, 2017 and December 31, 2016, this customer relationship intangible amounted to $1.8 million and $1.9 million, respectively.

Other repossessed assets totaled $3.3 million and $3.2 million at March 31, 2017 and December 31, 2016, respectively, include repossessed automobiles amounting to $3.1 million and $3.0 million, respectively, which are recorded at their net realizable value.

At March 31, 2017 and December 31, 2016, tax credits for the Company totaled $6.3 million for both periods. These tax credits do not have an expiration date.