Accrued Interest Receivable and Other Assets

12 Months Ended

Dec. 31, 2019

Accrued Interest Receivable And Other Assets [Abstract]

Accrued Interest Receivable And Other Assets

NOTE 14 — ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS

Accrued interest receivable at December 31, 2019 and 2018 consists of the following:

	December 31,
	2019		2018
	(In thousands)
Loans, excluding acquired loans	$	32,728	$	30,409
Investments		4,053		3,845
	$	36,781	$	34,254

Other assets at December 31, 2019 and 2018 consist of the following:

	December 31,
	2019		2018
	(In thousands)
Prepaid expenses	$	52,558	$	9,788
Other repossessed assets		3,327		2,986
Tax credits		277		2,277
Investment in Statutory Trust		1,083		1,083
Accounts receivable and other assets		78,594		37,842
	$	135,839	$	53,976

Prepaid expenses amounting to $52.6 million at December 31, 2019, include prepaid municipal, property and income taxes aggregating to $45.3 million from which $31.9 million correspond to the Scotiabank PR & USVI Acquisition. At December 31, 2018 prepaid expenses amounted to $9.8 million, including prepaid municipal, property and income taxes aggregating to $5.5 million.

Other repossessed assets totaled $3.3 million and $3.0 million at December 31, 2019 and 2018, respectively, that consist mainly of repossessed automobiles, which are recorded at their net realizable value.

At December 31, 2019 and 2018, tax credits for Oriental totaled $277 thousand and $2.3 million, respectively. These tax credits do not have an expiration date.