XML 41 R87.htm IDEA: XBRL DOCUMENT v2.4.1.9
Employee Benefit Plans (Narrative) (Details) (USD $)
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
401(k) Plan [Member]      
Description of plan
401(k) Plan.  The Company sponsors a retirement savings plan pursuant to Section 401(k) of the Internal Revenue Code.  New employees who have met the age requirement are automatically enrolled in the plan at a 5% deferral rate on the next plan Entry Date.  The automatic deferral can be modified by the employee at any time.
   
Deferral rate 5.00%fbp_DeferralRate
/ us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis
= fbp_Plan401kMember
   
Percent of annual salary employees may contribute 15.00%fbp_PercentOfAnnualSalaryEmployeesMayContribute
/ us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis
= fbp_Plan401kMember
   
Percent matched by company up to 3 percent of employee salary 100.00%fbp_PercentMatchedByCompanyUpTo3PercentOfEmployeeSalary
/ us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis
= fbp_Plan401kMember
   
Percent matched by company 3-5 percent of employee salary 50.00%fbp_PercentMatchedByCompany305PercentOfEmployeeSalary
/ us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis
= fbp_Plan401kMember
   
Matching contributions $ 1,400,000fbp_MatchingContributions
/ us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis
= fbp_Plan401kMember
$ 1,400,000fbp_MatchingContributions
/ us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis
= fbp_Plan401kMember
$ 1,200,000fbp_MatchingContributions
/ us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis
= fbp_Plan401kMember
Pension Plan [Member]      
Description of plan

Historically, the Company offered a noncontributory defined benefit retirement plan (the “Pension Plan”) that qualified under Section 401(a) of the Internal Revenue Code.  The Pension Plan provided for a monthly payment, at normal retirement age of 65, equal to one-twelfth of the sum of (i) 0.75% of Final Average Annual Compensation (5 highest consecutive calendar years' earnings out of the last 10 years of employment) multiplied by the employee's years of service not in excess of 40 years, and (ii) 0.65% of Final Average Annual Compensation in excess of the average social security wage base multiplied by years of service not in excess of 35 years.  Benefits were fully vested after five years of service.

 

During the second quarter of 2009, the Company amended the Pension Plan to limit eligibility to employees hired prior to June 19, 2009.  Effective December 31, 2012, the Company froze the Pension Plan for all participants.  Although no previously accrued benefits were lost, employees no longer accrue benefits for service subsequent to 2012.

   
Accumulated benefit obligation 35,615,000us-gaap_DefinedBenefitPlanAccumulatedBenefitObligation
/ us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis
= fbp_PensionPlanMember
30,548,000us-gaap_DefinedBenefitPlanAccumulatedBenefitObligation
/ us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis
= fbp_PensionPlanMember
32,272,000us-gaap_DefinedBenefitPlanAccumulatedBenefitObligation
/ us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis
= fbp_PensionPlanMember
Expected average annual rate of return, minimum 7.00%fbp_ExpectedAverageAnnualRateOfReturnMinimum
/ us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis
= fbp_PensionPlanMember
   
Expected average annual rate of return, maximum 10.00%fbp_ExpectedAverageAnnualRateOfReturnMaximum
/ us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis
= fbp_PensionPlanMember
   
Pension Plan [Member] | Equities [Member]      
Pension plans allocated assets (percentage) 75.00%us-gaap_DefinedBenefitPlanWeightedAverageAssetAllocations
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= fbp_EquitySecurities1Member
/ us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis
= fbp_PensionPlanMember
   
Pension Plan [Member] | Fixed Income [Member]      
Pension plans allocated assets (percentage) 25.00%us-gaap_DefinedBenefitPlanWeightedAverageAssetAllocations
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= us-gaap_FixedIncomeInvestmentsMember
/ us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis
= fbp_PensionPlanMember
   
SERP [Member]      
Description of plan
The purpose of the SERP was to provide additional monthly pension benefits to ensure that each such senior management executive would receive lifetime monthly pension benefits equal to 3% of his or her final average compensation multiplied by his or her years of service (maximum of 20 years) to the Company or its subsidiaries, subject to a maximum of 60% of his or her final average compensation.  The amount of a participant's monthly SERP benefit is reduced by (i) the amount payable under the Company's qualified Pension Plan (described above), and (ii) 50% of the participant's primary social security benefit.  Final average compensation means the average of the 5 highest consecutive calendar years of earnings during the last 10 years of service prior to termination of employment.  The SERP is an unfunded plan.  Payments are made from the general assets of the Company.Effective December 31, 2012, the Company froze the SERP to all participants.  Although no previously accrued benefits were lost, participants no longer accrue benefits for service subsequent to 2012.
   
Accumulated benefit obligation $ 5,216,000us-gaap_DefinedBenefitPlanAccumulatedBenefitObligation
/ us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis
= fbp_SerpPlanCurrentYearMember
$ 5,292,000us-gaap_DefinedBenefitPlanAccumulatedBenefitObligation
/ us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis
= fbp_SerpPlanCurrentYearMember
$ 6,813,000us-gaap_DefinedBenefitPlanAccumulatedBenefitObligation
/ us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis
= fbp_SerpPlanCurrentYearMember