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Accrued Interest Receivable and Other Assets
 6 Months Ended
Jun. 30, 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 June 30, 2017 and December 31, 2016 consists of the following:

June 30,December 31,
20172016
(In thousands)
Loans, excluding acquired loans$16,835$16,706
Investments2,9633,521
$19,798$20,227

Other assets at June 30, 2017 and December 31, 2016 consist of the following:

June 30,December 31,
20172016
(In thousands)
Prepaid expenses$17,117$17,096
Other repossessed assets3,2253,224
Core deposit and customer relationship intangibles5,4246,160
Mortgage tax credits6,2776,277
Investment in Statutory Trust1,0831,083
Accounts receivable and other assets33,16246,525
$66,288$80,365

Prepaid expenses amounting to $17.1 million at both June 30, 2017 and December 31, 2016, include prepaid municipal, property and income taxes aggregating to $11.7 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 June 30, 2017 and December 31, 2016 this core deposit intangible amounted to $3.8 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 June 30, 2017 and December 31, 2016, this customer relationship intangible amounted to $1.6 million and $1.9 million, respectively.

Other repossessed assets totaled $3.2 million at June 30, 2017 and December 31, 2016, respectively, include repossessed automobiles amounting to $3.0 million, respectively, which are recorded at their net realizable value.

At June 30, 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.