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OTHER LONG-TERM BORROWINGS (Tables) | 9 Months Ended
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Sep. 30, 2023
OTHER LONG-TERM BORROWINGS [Abstract] |
Components of Other Borrowings [Table Text Block] | Junior subordinated debentures, as of the indicated dates, consisted of: (In thousands) September 30, 2023 December 31, 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 CME Term SOFR plus a 0.26161 % tenor spread adjustment as of September 30, 2023 and 2.75 % over 3-month LIBOR as of December 31, 2022 ( 8.42 % as of September 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 CME Term SOFR plus a 0.26161 % tenor spread adjustment as of September 30, 2023 and 2.50 % over 3-month LIBOR as of December 31, 2022 ( 8.16 % as of September 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 these 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 -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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