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OTHER BORROWINGS (Tables)

9 Months Ended

Sep. 30, 2018

Subordinated Borrowings [Abstract]

Components of Other Borrowings

Other borrowings, as of the indicated dates, consisted of:

		September 30,			December 31,
		2018			2017
		(In thousands)
Junior subordinated debentures due in 2034,
interest-bearing at a floating rate of 2.75%
over 3-month LIBOR (5.08% as of September 30, 2018
and 4.35% as of December 31, 2017) (1)		$	65,593		$	90,078
Junior subordinated debentures due in 2034,
interest-bearing at a floating rate of 2.50%
over 3-month LIBOR (4.84% as of September 30, 2018
and 4.12% as of December 31, 2017)			118,557			118,557
		$	184,150		$	208,635
(1) Refer to Note 14 - Non-Consolidated Variable Interest Entities (“VIE”) and Servicing Assets-Trust-Preferred Securities, for additional information about the Corporation's repurchase and cancellation in the first quarter of 2018 of $23.8 million in trust-preferred securities associated with these junior subordinated debentures.

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- Definition

Tabular disclosure of borrowings under subordinated debt agreements that qualify as available in computing net capital under SEC uniform net capital rules for broker-dealers, including restrictive covenants, collateral, interest rates and due dates, amounts due by date and amount owed in total.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6479118&loc=d3e64650-112822

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- References

No definition available.

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