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Accrued Interest Receivable and Other Assets

3 Months Ended

Mar. 31, 2020

Accrued Interest Receivable And Other Assets [Abstract]

Accrued Interest Receivable And Other Assets

NOTE 11 — ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS

Accrued interest receivable at March 31, 2020 and December 31, 2019 consists of the following:

	March 31,		December 31,
	2020		2019
	(In thousands)
Loans, excluding acquired loans	$	37,433	$	32,728
Investments		2,748		4,053
	$	40,181	$	36,781

Other assets at March 31, 2020 and December 31, 2019 consist of the following:

	March 31,		December 31,
	2020		2019
	(In thousands)
Prepaid expenses	$	44,582	$	52,558
Other repossessed assets		3,096		3,327
Tax credits		-		277
Investment in Statutory Trust		1,083		1,083
Accounts receivable and other assets		70,359		78,600
	$	119,120	$	135,845

Prepaid expenses amounting to $44.6 million at March 31, 2020, include prepaid municipal, property and income taxes aggregating to $38.6 million. At December 31, 2019 prepaid expenses amounted to $52.6 million, including prepaid municipal, property and income taxes aggregating to $45.3 million, from which $31.9 million corresponded to the Scotiabank PR & USVI Acquisition.

Other repossessed assets totaled $3.1 million and $3.3 million at March 31, 2020 and December 31, 2019, respectively, that consist mainly of repossessed automobiles, which are recorded at their net realizable value.