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Accrued Interest Receivable and Other Assets

6 Months Ended

Jun. 30, 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 June 30, 2020 and December 31, 2019 consists of the following:

	June 30,		December 31,
	2020		2019
	(In thousands)
Loans, excluding acquired loans	$	80,330	$	32,728
Investments		2,153		4,053
	$	82,483	$	36,781

Other assets at June 30, 2020 and December 31, 2019 consist of the following:

	June 30,		December 31,
	2020		2019
	(In thousands)
Prepaid expenses	$	40,082	$	52,558
Other repossessed assets		1,360		3,327
Tax credits		-		277
Investment in Statutory Trust		1,083		1,083
Accounts receivable and other assets		84,845		78,600
	$	127,370	$	135,845

Prepaid expenses amounting to $40.1 million at June 30, 2020, include prepaid municipal, property and income taxes aggregating to $36.2 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 $1.4 million and $3.3 million at June 30, 2020 and December 31, 2019, respectively, that consist mainly of repossessed automobiles, which are recorded at their net realizable value.