XML 25 R14.htm IDEA: XBRL DOCUMENT
v3.21.2

EQUITY SECURITIES | 9 Months Ended
--- | ---
Sep. 30, 2021
Investments All Other Investments [Abstract] |
EQUITY SECURITIES [Text Block] | NOTE 6 – EQUITY SECURITIES Institutions that are members of the FHLB system are required to maintain a minimum investment in FHLB stock. Such minimum investment is calculated as a percentage of aggregate outstanding mortgages, and the FHLB requires an additional investment that is calculated as a percentage of total FHLB advances, letters of credit, and the collateralized portion of outstanding interest-rate swaps. The FHLB stock represents capital stock issued at $100 par value, and both stock and cash dividends may be received. As of September 30, 2021 and December 31, 2020, the Corporation had investments in FHLB stock carried at a cost of $27.0 million and $31.2 million, respectively. Dividend income from FHLB stock for the quarter and nine-month period ended September 30, 2021 was $0.3 million and $1.1 million, respectively, compared to $0.4 million and $1.5 million for the quarter and nine-month period ended September 30, 2020, respectively. The FHLB of New York issued the shares of FHLB stock owned by the Corporation. The FHLB of New York is part of the Federal Home Loan Bank System, a national wholesale banking network of 11 regional, stockholder-owned congressionally chartered banks. The FHLBs are all privately capitalized and operated by their member stockholders. The system is supervised by the Federal Housing Finance Agency, which requires that the FHLBs operate in a financially safe and sound manner, remain adequately capitalized and able to raise funds in the capital markets, and carry out their housing finance mission. As of September 30, 2021 and December 31, 2020, the Corporation owned other equity securities with a readily determinable fair value of approximately $5.4 million and $1.5 million, respectively. During the quarter and nine-month period ended September 30, 2021, the Corporation recognized a marked-to-market loss of $37 thousand and $42 thousand, respectively, associated with these securities ($3 thousand marked-to-marked loss and $40 thousand marked-to-market gain for the quarter and nine-month period ended September 30, 2020, respectively), which was recorded as part of other non-interest income in the consolidated statements of income. In addition, the Corporation had other equity securities that do not have a readily-determinable fair value. The carrying value of such securities as of September 30, 2021 and December 31, 2020 was $5.0 million and $4.9 million, respectively.

X
- Definition Information about the aggregate carrying amount of investment in equities and other securities that do not have readily determinable fair values. The carrying amount of such securities equals cost, adjusted for other than temporary impairment. Includes investments in stock of the Federal Home Loan Bank. + References No definition available. + Details
Name: | fbp_Otherinvestmentsecuritiestextblock
Namespace Prefix: | fbp_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsAllOtherInvestmentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration