Accrued Interest Receivable and Other Assets

12 Months Ended

Dec. 31, 2018

Accrued Interest Receivable And Other Assets [Abstract]

Accrued Interest Receivable And Other Assets

NOTE 13 — ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS

Accrued interest receivable at December 31, 2018 and 2017 consists of the following:

	December 31,
	2018		2017
	(In thousands)
Loans, excluding acquired loans	$	30,409	$	46,936
Investments		3,845		3,033
	$	34,254	$	49,969

Accrued interest receivable at December 31, 2017, included $39.7 million, resulting from the loan payment moratorium. Accrued interest receivable resulting from the loan payment moratorium has been decreasing, as most moratoriums have expired. Some of these accrued interests are payable at the end of the loan term.

Other assets at December 31, 2018 and 2017 consist of the following:

	December 31,
	2018		2017
	(In thousands)
Prepaid expenses	$	9,788	$	9,200
Other repossessed assets		2,986		3,548
Core deposit and customer relationship intangibles		3,369		4,687
Tax credits		2,277		4,277
Investment in Statutory Trust		1,083		1,083
Accounts receivable and other assets		37,842		41,898
	$	57,345	$	64,693

Prepaid expenses amounting to $9.8 million and $9.2 million at December 31, 2018 and 2017, respectively, include prepaid municipal, property and income taxes aggregating to $5.5million and $5.7 million, respectively.

In connection with the FDIC-assisted acquisition and the BBVAPR Acquisition, Oriental recorded a core deposit intangible representing the value of checking and savings deposits acquired. At December 31, 2018 and 2017 this core deposit intangible amounted to $2.5 million and $3.3 million, respectively. In addition, Oriental recorded a customer relationship intangible representing the value of customer relationships acquired with the acquisition of the securities broker-dealer and insurance agency in the BBVAPR Acquisition. At December 31, 2018 and 2017, this customer relationship intangible amounted to $888 thousand and $1.4 million, respectively.

Other repossessed assets totaled $3.0 million and $3.5 million at December 31, 2018 and 2017, respectively, that consist mainly of repossessed automobiles, which are recorded at their net realizable value.

At December 31, 2018 and 2017, tax credits for Oriental totaled $2.3 million and $4.3 million, respectively. These tax credits do not have an expiration date.