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Accrued Interest Receivable and Other Assets | 6 Months Ended
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Jun. 30, 2021
Accrued Interest Receivable and Other Assets [Abstract] |
Accrued Interest Receivable and Other Assets | NOTE 10 — ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS Accrued interest receivable at June 30, 2021 and December 31, 2020 consists of the following:
| June 30, |  | December 31,
| 2021 |  | 2020
| (In thousands)
Loans | $ | 58,373 |  | $ | 64,465
Investments |  | 1,477 |  |  | 1,082
| $ | 59,850 |  | $ | 65,547
OFG 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 June 30, 2021 and December 31, 2020, the allowance for credit losses for accrued interest receivable for loans that participated in the Covid-19 deferral programs amounted to $461 thousand and $711 thousand, respectively, and is included in accrued interest receivable in the statement of financial condition. Other assets at June 30, 2021 and December 31, 2020 consist of the following:
| June 30, |  | December 31,
| 2021 |  | 2020
| (In thousands)
Prepaid expenses | $ | 61,617 |  | $ | 61,332
Other repossessed assets |  | 1,725 |  |  | 1,816
Investment in Statutory Trust |  | 1,083 |  |  | 1,083
Accounts receivable and other assets |  | 91,325 |  |  | 78,845
| $ | 155,750 |  | $ | 143,076
Prepaid expenses amounting to $61.6 million at June 30, 2021, include prepaid municipal, property and income taxes aggregating to $57.6 million. At December 31, 2020 prepaid expenses amounted to $61.3 million, including prepaid municipal, property and income taxes aggregating to $54.3 million. Other repossessed assets totaled $1.7 million and $1.8 million at June 30, 2021 and December 31, 2020, respectively, that consist mainly of repossessed automobiles, which are recorded at their net realizable value.

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