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Significant Event | 9 Months Ended
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Sep. 30, 2017
Extraordinary And Unusual Items Abstract |
Unusual Or Infrequent Items Disclosure Text Block | NOTE 2 – S IGNIFICANT EVENTS Hurricanes Irma and Maria During the third quarter of 2017, Oriental was impacted by Hurricanes Irma and Maria, which struck the island on September 7, 2017 and September 20, 2017, respectively. H urricane Maria caused catastrophic damages throughout Puerto Rico, including homes, businesses, roads, bridges, power lines, commercial establishments, and public facilities. It caused an unprecedented crisis when it ravaged the Island’s electric power grid less than two weeks after hurricane Irma left over a million Puerto Rico residents without power. Over a month after the hurricanes, most of Puerto Rico remains without elec tricity, many businesses are unable to operate, and government authorities are still struggling to deliver emergency supplies and clean drinking water to many communities outside t he San Juan metropolitan area. Further, payment and delivery systems, includ ing the U.S. Post Office, were unable to operate for weeks after hurricane Maria and some are still subject to significant delays. Almost all of Oriental’s operations and clien ts are located in Puerto Rico. Although Oriental’s business operations w ere disrupted by major damages to Puerto Rico’s critical infrastructure, including its electric power grid and telecommunications network, Oriental’s digital channels, core banking and electronic funds transfer systems continued to function uninterrupted d u ring and after the hurricanes. Within days after hurricane Maria, and upon securing a continuing supply of diesel fuel for its electric power generators, Oriental was able to open its main offices and many of its branches and ATMs in addition to its digit al and phone trade channels. As a result of this event, and b ased on current assessments of information available for the impact of the hurricanes on our credit portfolio, third quarter 2017 results included an additional $27.0 million in loan loss provision, pre-tax. Refer to footnotes for further disclosure associated to this significant event.

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- Definition The entire disclosure for an event or transaction that is unusual in nature or infrequent in occurrence, or both. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64828382&loc=d3e15138-107781 + Details
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