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Foreclosed Real Estate
 9 Months Ended
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 investmentAcquired BBVAPR loansAcquired Eurobank loansTotal
(In thousands)
Balance at beginning of period$15,842$21,671$12,710$50,223
Decline in value(592)(680)(340)(1,612)
Additions1,4822,1226654,269
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 investmentAcquired BBVAPR loansAcquired Eurobank loansTotal
(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)
Additions9,3389,2102,59721,145
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 investmentAcquired BBVAPR loansAcquired Eurobank loansTotal
(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)
Additions1,8661,8006924,358
Sales (1,717)(3,191)(1,440)(6,348)
Other adjustments2--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 investmentAcquired BBVAPR loansAcquired Eurobank loansTotal
(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 6,2954,8552,39913,549
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.