XML 60 R49.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Fair Value (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract] |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis 1 [Table Text Block] | Assets and liabilities measured at fair value on a recurring and non-recurring basis are summarized below:
| September 30, 2017
| Fair Value Measurements
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (In thousands)
Recurring fair value measurements: |  |  |  |  |  |  |  |  |  |  |
Investment securities available-for-sale | $ | - |  | $ | 613,423 |  | $ | - |  | $ | 613,423
Trading securities |  | - |  |  | 284 |  |  | - |  |  | 284
Money market investments |  | 6,530 |  |  | - |  |  | - |  |  | 6,530
Derivative assets |  | - |  |  | 809 |  |  | - |  |  | 809
Servicing assets |  | - |  |  | - |  |  | 9,818 |  |  | 9,818
Derivative liabilities |  | - |  |  | (1,677) |  |  | - |  |  | (1,677)
| $ | 6,530 |  | $ | 612,839 |  | $ | 9,818 |  | $ | 629,187
Non-recurring fair value measurements: |  |  |  |  |  |  |  |  |  |  |
Impaired commercial loans | $ | - |  | $ | - |  | $ | 67,788 |  | $ | 67,788
Foreclosed real estate |  | - |  |  | - |  |  | 47,275 |  |  | 47,275
Other repossessed assets |  | - |  |  | - |  |  | 3,829 |  |  | 3,829
| $ | - |  | $ | - |  | $ | 118,892 |  | $ | 118,892
| December 31, 2016
| Fair Value Measurements
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (In thousands)
Recurring fair value measurements: |  |  |  |  |  |  |  |  |  |  |
Investment securities available-for-sale | $ | - |  | $ | 751,484 |  | $ | - |  | $ | 751,484
Trading securities |  | - |  |  | 347 |  |  | - |  |  | 347
Money market investments |  | 5,606 |  |  | - |  |  | - |  |  | 5,606
Derivative assets |  | - |  |  | 1,330 |  |  | - |  |  | 1,330
Servicing assets |  | - |  |  | - |  |  | 9,858 |  |  | 9,858
Derivative liabilities |  | - |  |  | (2,437) |  |  | - |  |  | (2,437)
| $ | 5,606 |  | $ | 750,724 |  | $ | 9,858 |  | $ | 766,188
Non-recurring fair value measurements: |  |  |  |  |  |  |  |  |  |  |
Impaired commercial loans | $ | - |  | $ | - |  | $ | 54,289 |  | $ | 54,289
Foreclosed real estate |  | - |  |  | - |  |  | 47,520 |  |  | 47,520
Other repossessed assets |  | - |  |  | - |  |  | 3,224 |  |  | 3,224
| $ | - |  | $ | - |  | $ | 105,033 |  | $ | 105,033
The table below presents a reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the quarters and ine-month period s ended September 30, 2017 and 2016:
| Quarter Ended September 30, 2017
| Servicing
Level 3 Instruments Only | assets
| (In thousands)
Balance at beginning of period | $ | 9,866
New instruments acquired |  | 429
Principal repayments |  | (152)
Changes in fair value of servicing assets |  | (325)
Balance at end of period | $ | 9,818
| Nine-Month Period Ended September 30, 2017
| Servicing
Level 3 Instruments Only | assets
| (In thousands)
Balance at beginning of period | $ | 9,858
New instruments acquired |  | 1,503
Principal repayments |  | (478)
Changes in fair value of servicing assets |  | (1,065)
Balance at end of period | $ | 9,818
| Quarter Ended September, 2016
| Derivative |  |  |  |  | Derivative |  |  |
| asset |  |  |  |  | liability |  |  |
| (S&P |  |  |  |  | (S&P |  |  |
| Purchased |  |  | Servicing |  | Embedded |  |  |
Level 3 Instruments Only | Options) |  |  | assets |  | Options) |  | Total
| (In thousands)
Balance at beginning of period | $ | 187 |  | $ | 7,932 |  | $ | (181) |  | $ | 7,938
Gains (losses) included in earnings |  | (187) |  |  | - |  |  | 181 |  |  | (6)
New instruments acquired |  | - |  |  | 466 |  |  | - |  |  | 466
Principal repayments |  | - |  |  | (123) |  |  | (1) |  |  | (124)
Amortization |  | - |  |  | - |  |  | 1 |  |  | 1
Changes in fair value of servicing assets |  | - |  |  | 118 |  |  | - |  |  | 118
Balance at end of period | $ | - |  | $ | 8,393 |  | $ | - |  | $ | 8,393
| Nine-Month Period Ended September, 2016
| Derivative |  |  |  |  | Derivative |
| asset |  |  |  |  | liability |
| (S&P |  |  |  |  | (S&P |
| Purchased |  |  | Servicing |  |  | Embedded |
Level 3 Instruments Only | Options) |  |  | assets |  |  | Options) |  | Total
| (In thousands)
Balance at beginning of period | $ | 1,170 |  | $ | 7,455 |  | $ | (1,095) |  | $ | 7,530
Gains (losses) included in earnings |  | (1,170) |  |  | - |  |  | 1,067 |  |  | (103)
New instruments acquired |  | - |  |  | 1,740 |  |  | - |  |  | 1,740
Principal repayments |  | - |  |  | (347) |  |  | - |  |  | (347)
Amortization |  | - |  |  | - |  |  | 28 |  |  | 28
Changes in fair value of servicing assets |  | - |  |  | (455) |  |  | - |  |  | (455)
Balance at end of period | $ | - |  | $ | 8,393 |  | $ | - |  | $ | 8,393
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Table Text Block] | The table below presents quantitative information for all assets and liabilities measured at fair value on a recurring and non-recurring basis using significant unobservable inputs (Level 3) at
|  | September 30, 2017
|  | Fair Value |  | Valuation Technique |  | Unobservable Input |  | Range
|  | (In thousands) |  |  |  |  |  |
Servicing assets |  | $ | 9,818 |  | Cash flow valuation |  | Constant prepayment rate |  | 4.22% - 9.11%
|  |  |  |  |  |  | Discount rate |  | 10.00% - 12.00%
Collateral dependant impaired loans |  | $ | 24,025 |  | Fair value of property or collateral |  | Appraised value less disposition costs |  | 22.20% - 36.20%
Other non-collateral dependant impaired loans |  | $ | 43,763 |  | Cash flow valuation |  | Discount rate |  | 4.15% - 10.50%
Foreclosed real estate |  | $ | 47,275 |  | Fair value of property or collateral |  | Appraised value less disposition costs |  | 22.20% - 36.20%
Other repossessed assets |  | $ | 3,829 |  | Fair value of property or collateral |  | Estimated net realizable value less disposition costs |  | 34.00% - 66.00%
Fair Value By Balance Sheet Grouping [Text Block] | The estimated fair value and carrying value of Oriental’s financial instruments at September 30, 2017 and December 31, 2016 is as follows:
| September 30, |  | December 31,
| 2017 |  | 2016
| Fair |  | Carrying |  | Fair |  | Carrying
| Value |  | Value |  | Value |  | Value
| (In thousands)
Level 1 |  |  |  |  |  |  |  |  |  |  |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 720,726 |  | $ | 720,726 |  | $ | 510,439 |  | $ | 510,439
Restricted cash | $ | 3,030 |  | $ | 3,030 |  | $ | 3,030 |  | $ | 3,030
Level 2 |  |  |  |  |  |  |  |  |  |  |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |
Trading securities | $ | 284 |  | $ | 284 |  | $ | 347 |  | $ | 347
Investment securities available-for-sale | $ | 613,423 |  | $ | 613,423 |  | $ | 751,484 |  | $ | 751,484
Investment securities held-to-maturity | $ | 525,830 |  | $ | 530,178 |  | $ | 592,763 |  | $ | 599,884
Federal Home Loan Bank (FHLB) stock | $ | 14,016 |  | $ | 14,016 |  | $ | 10,793 |  | $ | 10,793
Other investments | $ | 3 |  | $ | 3 |  | $ | 3 |  | $ | 3
Derivative assets | $ | 809 |  | $ | 809 |  | $ | 1,330 |  | $ | 1,330
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |
Derivative liabilities | $ | 1,677 |  | $ | 1,677 |  | $ | 2,437 |  | $ | 2,437
Level 3 |  |  |  |  |  |  |  |  |  |  |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |
Total loans (including loans held-for-sale) | $ | 3,854,106 |  | $ | 3,964,572 |  | $ | 3,917,340 |  | $ | 4,147,692
FDIC indemnification asset | $ | - |  | $ | - |  | $ | 8,669 |  | $ | 14,411
Accrued interest receivable | $ | 22,736 |  | $ | 22,736 |  | $ | 20,227 |  | $ | 20,227
Servicing assets | $ | 9,818 |  | $ | 9,818 |  | $ | 9,858 |  | $ | 9,858
Accounts receivable and other assets | $ | 37,443 |  | $ | 37,443 |  | $ | 46,525 |  | $ | 46,525
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |
Deposits | $ | 4,809,945 |  | $ | 4,826,404 |  | $ | 4,644,629 |  | $ | 4,664,487
Securities sold under agreements to repurchase | $ | 281,786 |  | $ | 283,080 |  | $ | 651,898 |  | $ | 653,756
Advances from FHLB | $ | 100,249 |  | $ | 100,091 |  | $ | 106,422 |  | $ | 105,454
Other borrowings | $ | - |  | $ | - |  | $ | 61 |  | $ | 61
Subordinated capital notes | $ | 31,938 |  | $ | 36,083 |  | $ | 30,230 |  | $ | 36,083
Accrued expenses and other liabilities | $ | 86,766 |  | $ | 86,766 |  | $ | 95,370 |  | $ | 95,370

X
- References No definition available. + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bb) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI http://asc.fasb.org/extlink&oid=66048111&loc=SL7498348-110258 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, applied during the period to each separate class of assets, liabilities, and financial instruments classified in shareholders' equity that are measured on a recurring and/or nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13476-108611 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13467-108611 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13433-108611 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration