TABLE A-7
                                                       TRUST ASSETS BY STATE
                                                         DECEMBER 31, 1997
                                                       (DOLLARS IN THOUSANDS)
                                                            PUERTO RICO
                                                            TRUSTS AND ESTATES                       AGENCIES
                                              I  ---------------------------------------------- ------------------------------------
                                              T       EMPLOYEE      PERSONAL     ESTATES      EMPLOYEE         ALL             TOTAL
              ASSET CATEGORY                  E       BENEFIT       TRUSTS                    BENEFIT          OTHERS
                                              M  -----------------------------------------------------------------------------------
NON-INT BEARING DEPOSITS-OWN INSTITUTION      1              8           102           0             0             -9            101
NON-INT BEARING DEPOSITS-OTHER INSTITUTIONS   2              0             0           0             0              0              0
INTEREST-BEARING DEPOSITS-OWN INSTITUTION     3          9,000           986           0             0          1,718         11,704
INTEREST-BEARING DEPOSITS-OTHER INSTITUTIONS  4            241             0           0             0              0            241
U.S. GOVERNMENT AND AGENCY OBLIGATIONS        5         52,572        13,809           0             0        883,779        950,160
STATE, COUNTY AND MUNICIPAL OBLIGATIONS       6         25,021        16,106           0             0        306,632        347,759
MONEY MARKET MUTUAL FUNDS                     7              2           422           0             0             60            484
OTHER SHORT TERM OBLIGATIONS                  8              0             0           0             0              0              0
OTHER NOTES AND BONDS                         9         27,971           821           0             0        125,852        154,644
COMMON AND PREFERRED STOCKS                  10        386,274        17,358           0             0         10,902        414,534
REAL ESTATE MORTGAGES                        11         23,092             0           0             0              0         23,092
REAL ESTATE                                  12              0           223           0             0              0            223
MISCELLANEOUS ASSETS                         13          3,769           535           0             0              0          4,304
                                                 -----------------------------------------------------------------------------------
TOTAL DISCRETIONARY ASSETS                   14        527,950        50,362           0             0      1,328,934      1,907,246
TOTAL NUMBER OF DISCRETIONARY ACCOUNTS       15          1,456           120           0             0             33          1,609
                                                 -----------------------------------------------------------------------------------
TOTAL NON-DISCRETIONARY ASSETS               16      1,628,270         5,861           0             0      2,264,749      3,898,880
TOTAL NUMBER OF NON-DISCRETIONARY ACCOUNTS   17          6,005            22           0             0          1,526          7,553
                                                 -----------------------------------------------------------------------------------
TOTAL ASSETS                                 18      2,156,220        56,223           0             0      3,593,683      5,806,126
TOTAL NUMBER OF ACCOUNTS                     19          7,461           142           0             0          1,559          9,162
                                                 -----------------------------------------------------------------------------------
                                                                                         NUMBER OF REPORTING INSTITUTIONS:       6