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Stockholders' Equity | 9 Months Ended
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Sep. 30, 2018
Stockholders' Equity [Abstract] |
Stockholders' equity | NOTE 16 – STOCKHOLDERS’ EQUITY Additional Paid-in Capital Additional paid-in capital represents contributed capital in excess of par value of common and preferred stock net of the costs of issuance. As of both September 30, 2018 and December 31, 2017, accumulated issuance costs charged against additional paid-in capital amounted to $13.6 million and $10.1 million for preferred and common stock, respectively. Legal Surplus The Puerto Rico Banking Act requires that a minimum of 10% of the Bank’s net income for the year be transferred to a reserve fund until such fund (legal surplus) equals the total paid in capital on common and preferred stock. At September 30, 2018 and December 31, 2017, the Bank’s legal surplus amounted to $87.6 million and $81.5 million, respectively. The amount transferred to the legal surplus account is not available for the payment of dividends to shareholders. Treasury Stock Under Oriental’s current stock repurchase program it is authorized to purchase in the open market up to $7.7 million of its outstanding shares of common stock. The shares of common stock repurchased are to be held by Oriental as treasury shares. During the nine-month periods ended September 30, 2018 and 2017, Oriental did not purchase any shares under the program. At September 30, 2018 the number of shares that may yet be purchased under the $70 million program is estimated at 478,691 and was calculated by dividing the remaining balance of $7.7 million by $16.15 (closing price of Oriental's common stock at September 30, 2018). The activity in connection with common shares held in treasury by Oriental for the nine-month periods ended September 30, 2018 and 2017 is set forth below:
| Nine-Month Period Ended September 30,
| 2018 |  | 2017
|  |  | Dollar |  |  |  | Dollar
| Shares |  | Amount |  | Shares |  | Amount
| (In thousands, except shares data)
Beginning of period | 8,678,427 |  | $ | 104,502 |  | 8,711,025 |  | $ | 104,860
Common shares used upon lapse of restricted stock units | (58,424) |  |  | (796) |  | (32,598) |  |  | (358)
End of period | 8,620,003 |  | $ | 103,706 |  | 8,678,427 |  | $ | 104,502

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- Definition The entire disclosure for accounts comprising shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income, and compensation-related costs for equity-based compensation. Includes, but is not limited to, disclosure of policies, compensation plan details, equity-based arrangements to obtain goods and services, deferred compensation arrangements, and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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