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Core Deposit, Customer Relationship and Other Intangibles

9 Months Ended

Sep. 30, 2020

Core Deposit, Customer Relationship and Other Intangibles [Abstract]

Core Deposit, Customer Relationship and Other Intangibles

NOTE 10 — CORE DEPOSIT, CUSTOMER RELATIONSHIP AND OTHER INTANGIBLES

Core deposit, customer relationship and other intangibles at September 30, 2020 and December 31, 2019 consists of the following:

	September 30,		December 31
	2020		2019
	(In thousands)
Core deposit intangibles	$	37,021	$	43,185
Customer relationship intangibles		11,275		13,213
Other intangibles		354		567
	$	48,650	$	56,965

In connection with the FDIC-assisted acquisition, the BBVAPR Acquisition and the Scotiabank PR & USVI Acquisition, Oriental recorded a core deposit intangible representing the value of checking and savings deposits acquired. At September 30, 2020, this core deposit intangible amounted to $37.0 million. At December 31, 2019, core deposit intangible amounted to $43.2 million, including $41.5 from the Scotiabank PR & USVI Acquisition. In addition, Oriental recorded a customer relationship intangible representing the value of customer relationships acquired with the acquisition of a securities broker-dealer and insurance agency in the BBVAPR Acquisition and an insurance agency in the Scotiabank PR & USVI Acquisitions. At September 30, 2020 this customer relationship intangible amounted to $11.3 million. At December 31, 2019 customer relationship intangible amounted to $13.2 million, including $12.7 million from the Scotiabank PR & USVI Acquisition. Oriental also recorded other intangibles from the Scotiabank PR & USVI Acquisition which amounted to $354 thousand and $567 thousand at September 30, 2020 and December 31, 2019, respectively.