TABLE A-7
                                                       TRUST ASSETS BY STATE
                                                         DECEMBER 31, 1998
                                                       (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            787           966           0             0            402          2,155
NON-INT BEARING DEPOSITS-OTHER INSTITUTIONS   2              0             0           0             0              0              0
INTEREST-BEARING DEPOSITS-OWN INSTITUTION     3         13,467         1,190           0             0          3,585         18,242
INTEREST-BEARING DEPOSITS-OTHER INSTITUTIONS  4            241             0           0             0            200            441
U.S. GOVERNMENT AND AGENCY OBLIGATIONS        5         60,783        14,750           0             0        913,020        988,553
STATE, COUNTY AND MUNICIPAL OBLIGATIONS       6         30,916        10,721           0             0        364,496        406,133
MONEY MARKET MUTUAL FUNDS                     7              0           264           0             0          1,310          1,574
OTHER SHORT TERM OBLIGATIONS                  8              0             0           0             0            414            414
OTHER NOTES AND BONDS                         9         30,379         2,334           0             0        136,490        169,203
COMMON AND PREFERRED STOCKS                  10        443,968        11,263           0             0         13,478        468,709
REAL ESTATE MORTGAGES                        11         17,283             0           0             0            126         17,409
REAL ESTATE                                  12              0           223           0             0              0            223
MISCELLANEOUS ASSETS                         13          4,097           295           0             0              0          4,392
                                                 -----------------------------------------------------------------------------------
TOTAL DISCRETIONARY ASSETS                   14        601,921        42,006           0             0      1,433,521      2,077,448
TOTAL NUMBER OF DISCRETIONARY ACCOUNTS       15          1,497            88           0             0             40          1,625
                                                 -----------------------------------------------------------------------------------
TOTAL NON-DISCRETIONARY ASSETS               16      2,259,879        31,601           0             0      2,204,619      4,496,099
TOTAL NUMBER OF NON-DISCRETIONARY ACCOUNTS   17          7,699            35           0             0            957          8,691
                                                 -----------------------------------------------------------------------------------
TOTAL ASSETS                                 18      2,861,800        73,607           0             0      3,638,140      6,573,547
TOTAL NUMBER OF ACCOUNTS                     19          9,196           123           0             0            997         10,316
                                                 -----------------------------------------------------------------------------------
                                                                                         NUMBER OF REPORTING INSTITUTIONS:       6