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OTHER LONG-TERM BORROWINGS (Tables) | 6 Months Ended
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Jun. 30, 2023
OTHER LONG-TERM BORROWINGS [Abstract] |
Components of Other Borrowings [Table Text Block] | Junior subordinated debentures, as of the indicated dates, consisted of: June 30, December 31, (In thousands) 2023 2022 Floating rate junior subordinated debentures (FBP Statutory Trust I) (1) (3) $ 43,143 $ 65,205 Floating rate junior subordinated debentures (FBP Statutory Trust II) (2) (3) 118,557 118,557 $ 161,700 $ 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 ( 8.26 % as of June 30, 2023 and 7.49 % as of December 31, 2022). (2) Amount represents junior subordinated interest-bearing debentures due in 2034 with a floating interest rate of 2.50 % over 3-month LIBOR ( 8.01 % as of June 30, 2023 and 7.25 % as of December 31, 2022). (3) See Note 7 - Non-Consolidated Variable Interest Entities (“VIEs”) and Servicing Assets, for additional information on the nature and terms of these debentures, the LIBOR transition of these contracts, and the Corporation’s repurchase in the second quarter of 2023 of $ 21.4 million in TRuPs associated with FBP Statutory Trust I.

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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 -Topic 942 -SubTopic 470 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480876/942-470-45-1 + Details
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