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OTHER BORROWINGS

6 Months Ended

Jun. 30, 2019

Subordinated Borrowings [Abstract]

OTHER BORROWINGS

NOTE 19 – OTHER BORROWINGS

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

		June 30,			December 31,
		2019			2018
		(In thousands)
Floating rate junior subordinated debentures (FBP Statutory Trust I) (1)		$	65,593		$	65,593
Floating rate junior subordinated debentures (FBP Statutory Trust II) (2)			118,557			118,557
		$	184,150		$	184,150

Amount represents junior subordinated interest-bearing debentures due in 2034 with a floating interest rate of 2.75 over 3-month LIBOR (5.16% as of June 30, 2019 and 5.54% as of December 31, 2018).Amount represents junior subordinated interest-bearing debentures due in 2034 with a floating interest rate of 2.50 over 3-month LIBOR (4.88% as of June 30, 2019 and 5.29% as of December 31, 2018).

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- References

No definition available.

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- Definition

The entire disclosure for borrowings under subordinated debt agreements that qualify as available in computing net capital under SEC's uniform net capital rule, 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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