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RESTRICTIONS ON CASH AND DUE FROM BANKS | 12 Months Ended
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Dec. 31, 2017
Restrictions on Cash and Due from Banks [Abstract] |
Restrictions on Cash and Due from Banks [Text Block] | NOTE 4 – RESTRICTIONS ON CASH AND DUE FROM BANKS The Corporation’s bank subsidiary, FirstBank, is required by law to maintain minimum average weekly reserve balances to cover demand deposits. The amount of those minimum average weekly reserve balances for the period that covered December 31, 201 7 was $337.1 million (201 6 — $276.2 million). As of December 31, 201 7 and 201 6, the Bank complied with the requirement. Cash and due from banks as well as other short-term, highly liquid securities are used to cover the required average reserve balances. As of December 31, 201 7, and as required by the Puerto Rico International Banking Law, the Corporation maintained $300,000 in time deposits, which were considered restricted assets related to FirstBank Overseas Corporation, an international banking entity that i s a subsidiary of FirstBank.

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- Definition The entire disclosure for assets that are restricted in their use, generally by contractual agreements or regulatory requirements. This would include, but not limited to, a description of the restricted assets and the terms of the restriction. + References No definition available. + Details
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