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Accrued Interest Receivable and Other Assets | 12 Months Ended
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Dec. 31, 2020
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, 2020 and 2019 consists of the following:
| December 31,
| 2020 |  | 2019
| (In thousands)
Loans | $ | 64,465 |  | $ | 32,728
Investments |  | 1,082 |  |  | 4,053
| $ | 65,547 |  | $ | 36,781
O riental estimates expected credit losses on accrued interest receivable for loans that participated in the Covid-19 deferral programs. An allowance has been established for loans with delinquency status in 30 to 89 days past due and is calculated by applying the corresponding loan projected loss factors to the accrued interest receivable balance. At December 31, 2020, the allowance for credit losses for accrued interest receivable for loans that participated in the Covid-19 deferral programs amounted to $711 thousand, and is included in accrued interest receivable in the statement of financial condition. Other assets at December 31, 2020 and 2019 consist of the following:
| December 31,
| 2020 |  | 2019
| (In thousands)
Prepaid expenses | $ | 61,332 |  | $ | 52,558
Other repossessed assets |  | 1,816 |  |  | 3,327
Tax credits |  | - |  |  | 277
Investment in Statutory Trust |  | 1,083 |  |  | 1,083
Accounts receivable and other assets |  | 78,845 |  |  | 78,600
| $ | 143,076 |  | $ | 135,845
Prepaid expenses amounting to $61.3 million at December 31, 2020, include prepaid municipal, property and income taxes aggregating to $54.3 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 $1.8 million and $3.3 million at December 31, 2020 and 2019, respectively, that consist mainly of repossessed automobiles, which are recorded at their net realizable value.

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