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OTHER BORROWINGS

9 Months Ended

Sep. 30, 2021

Subordinated Borrowings [Abstract]

OTHER BORROWINGS [Text Block]

NOTE 20 – OTHER BORROWINGS

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

		September 30,			December 31,
		2021			2020
(In thousands)
Floating rate junior subordinated debentures (FBP Statutory Trust I) (1)		$	65,205		$	65,205
Floating rate junior subordinated debentures (FBP Statutory Trust II) (2)			118,557			118,557
		$	183,762		$	183,762
(1)	Amount represents junior subordinated interest-bearing debentures due in 2034 with a floating interest rate of 2.75% over 3-month LIBOR (2.87% as of September 30, 2021 and 2.98% as of December 31, 2020).
(2)	Amount represents junior subordinated interest-bearing debentures due in 2034 with a floating interest rate of 2.50% over 3-month LIBOR (2.62% as of September 30, 2021 and 2.74% as of December 31, 2020).

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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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