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OTHER LONG-TERM BORROWINGS (Tables) | 3 Months Ended
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Mar. 31, 2024
OTHER LONG-TERM BORROWINGS [Abstract] |
Components of Other Borrowings [Table Text Block] | Junior subordinated debentures, as of the indicated dates, consisted of: (In thousands) March 31, 2024 December 31, 2023 Long-term floating rate junior subordinated debentures (FBP Statutory Trust I) (1) (3) $ 43,143 $ 43,143 Long-term floating rate junior subordinated debentures (FBP Statutory Trust II) (2) (3) 118,557 118,557 $ 161,700 $ 161,700 (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 March 31, 2024 and December 31, 2023 ( 8.34 % as of March 31,2024 and 8.39 % as of December 31, 2023). (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 March 31, 2024 and December 31, 2023 ( 8.09 % as of March 31, 2024 and 8.13 % as of December 31, 2023). (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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