XML 48 R37.htm IDEA: XBRL DOCUMENT v3.25.1
BORROWINGS (Tables)
 3 Months Ended
Mar. 31, 2025
BORROWINGS [Abstract]  
Summary of Advances from FHLB [Table Text Block]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The following is a summary of the advances from the FHLB as of the indicated dates:
March 31, 2025
December 31, 2024
(In thousands)
Long-term
Fixed
-rate advances from the FHLB
(1)
$
320,000
$
500,000
(1)
Weighted-average interest rate of
4.37
% and
4.45
% as of March 31, 2025 and December 31, 2024, respectively.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Advances from the FHLB mature as follows as of the indicated date:
March 31, 2025
(In thousands)
Over three months to six months
$
30,000
Over six months to one year
90,000
Over two years to three years
200,000
 
Total
(1)
$
320,000
(1) Average remaining term to maturity of
1.96
 
years.
Components of Junior Subordinated Debentures [Table Text Block]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
March 31, 2025
December 31, 2024
Long-term floating rate junior subordinated debentures (FBP Statutory Trust I)
(1)
$
11,143
$
43,143
Long-term floating rate junior subordinated debentures (FBP Statutory Trust II)
(2)
-
18,557
$
11,143
$
61,700
(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, 2025 and December 31, 2024 (
7.31
% as of March 31, 2025 and
7.36
% as of December 31, 2024).
(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 December 31, 2024 (
7.12
% as of December 31, 2024).