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Foreclosed Real Estate | 9 Months Ended
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Sep. 30, 2017
Other Real Estate [Abstract] |
Real Estate Owned Text Block | NOTE 8 — FORECLOSED REAL ESTATE The following tables present the activity related to foreclosed real estate for the quarters and nine month periods ended September 30, 2017 and 2016:
| Quarter Ended September 30, 2017
| Originated and other loans and leases held for investment |  | Acquired BBVAPR loans |  | Acquired Eurobank loans |  | Total
|  | (In thousands)
Balance at beginning of period | $ | 15,842 |  | $ | 21,671 |  | $ | 12,710 |  | $ | 50,223
Decline in value |  | (592) |  |  | (680) |  |  | (340) |  |  | (1,612)
Additions |  | 1,482 |  |  | 2,122 |  |  | 665 |  |  | 4,269
Sales |  | (1,996) |  |  | (2,410) |  |  | (1,108) |  |  | (5,514)
Other adjustments |  | (59) |  |  | (32) |  |  | - |  |  | (91)
Balance at end of period | $ | 14,677 |  | $ | 20,671 |  | $ | 11,927 |  | $ | 47,275
| Nine-Month Period Ended September 30, 2017
| Originated and other loans and leases held for investment |  | Acquired BBVAPR loans |  | Acquired Eurobank loans |  | Total
|  | (In thousands)
Balance at beginning of period | $ | 12,389 |  | $ | 21,379 |  | $ | 13,752 |  | $ | 47,520
Decline in value |  | (1,672) |  |  | (2,309) |  |  | (1,610) |  |  | (5,591)
Additions |  | 9,338 |  |  | 9,210 |  |  | 2,597 |  |  | 21,145
Sales |  | (5,235) |  |  | (7,464) |  |  | (2,812) |  |  | (15,511)
Other adjustments |  | (143) |  |  | (145) |  |  | - |  |  | (288)
Balance at end of period | $ | 14,677 |  | $ | 20,671 |  | $ | 11,927 |  | $ | 47,275
| Quarter Ended September 30, 2016
| Originated and other loans and leases held for investment |  | Acquired BBVAPR loans |  | Acquired Eurobank loans |  | Total
|  | (In thousands)
Balance at beginning of period | $ | 10,401 |  | $ | 23,894 |  | $ | 16,925 |  | $ | 51,220
Decline in value |  | (794) |  |  | (1,662) |  |  | (1,036) |  |  | (3,492)
Additions |  | 1,866 |  |  | 1,800 |  |  | 692 |  |  | 4,358
Sales |  | (1,717) |  |  | (3,191) |  |  | (1,440) |  |  | (6,348)
Other adjustments |  | 2 |  |  | - |  |  | - |  |  | 2
Balance at end of period | $ | 9,758 |  | $ | 20,841 |  | $ | 15,141 |  | $ | 45,740
| Nine-Month Period Ended September 30, 2016
| Originated and other loans and leases held for investment |  | Acquired BBVAPR loans |  | Acquired Eurobank loans |  | Total
|  | (In thousands)
Balance at beginning of period | $ | 9,738 |  | $ | 26,757 |  | $ | 21,681 |  | $ | 58,176
Decline in value |  | (1,442) |  |  | (5,566) |  |  | (4,518) |  |  | (11,526)
Additions |  | 6,295 |  |  | 4,855 |  |  | 2,399 |  |  | 13,549
Sales |  | (4,836) |  |  | (5,205) |  |  | (4,421) |  |  | (14,462)
Other adjustments |  | 3 |  |  | - |  |  | - |  |  | 3
Balance at end of period | $ | 9,758 |  | $ | 20,841 |  | $ | 15,141 |  | $ | 45,740
During the third quarter of 2017, hurricanes Irma and Maria caused catastrophic damages throughout Puerto Rico. Management is evaluating the potential impact these two events brought to Oriental’s foreclosed real estate, considering the related underlying insurance coverage. Taking into consideration all available information and the status of the analysis to date, we believed the fair value of these properties will not be materially impacted.

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- Definition The entire disclosure for real estate owned (as defined). Generally, the largest component of real estate owned by lenders is assets taken in settlement of troubled loans through surrender or foreclosure. Real estate investments, real estate loans that qualify as investments in real estate, and premises that are no longer used in operations may also be included in real estate owned. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 40 -Section 40 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=68051746&loc=d3e18551-111553 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 40 -Section 40 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=68051746&loc=d3e18511-111553 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=65884687&loc=d3e4437-111522 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 35 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=29634951&loc=d3e1424-110224 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(c)(Schedule III)) -URI http://asc.fasb.org/extlink&oid=27047687&loc=d3e5864-122674 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(10)(4)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -SubTopic 360 -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-28) -URI http://asc.fasb.org/extlink&oid=6590653&loc=d3e638233-123024 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 35 -Paragraph 43 -URI http://asc.fasb.org/extlink&oid=29634951&loc=d3e1739-110224 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(8)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details
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