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OTHER LONG-TERM BORROWINGS (Tables)
 9 Months Ended
Sep. 30, 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)
September 30, 2024
December 31, 2023
Long-term floating rate junior subordinated debentures (FBP Statutory Trust I)
(1)
$
43,143
$
43,143
Long-term floating rate junior subordinated debentures (FBP Statutory Trust II)
(2)
68,557
118,557
$
111,700
$
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 September 30, 2024 and December 31,
 
2023 (
7.95
% as of September 30, 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 September 30, 2024 and December 31, 2023
 
(
7.58
% as of September 30, 2024 and
8.13
% as of December 31, 2023).