XML 56 R37.htm IDEA: XBRL DOCUMENT v3.8.0.1

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Schedule of income tax allocation

Total income taxes for the years ended December 31, 2017, 2016, and 2015 were allocated as follows:

($ In thousands)		2017				2016				2015
Allocated to net income		$	21,767				14,624				14,126
Allocated to stockholders’ equity, for unrealized holding gain/loss on     debt and equity securities for financial reporting purposes			321				(685	)			(184	)
Allocated to stockholders’ equity, for tax benefit of pension liabilities			668				(36	)			(1,716	)
Total income taxes		$	22,756				13,903				12,226

Schedule of components of Income tax expense

The components of income tax expense for the years ended December 31, 2017, 2016, and 2015 are as follows:

($ In thousands)		2017				2016				2015
Current     - Federal		$	11,286				12,827				9,149
- State			1,996				1,679				1,436
Deferred   - Federal			7,742				16				3,205
- State			743				102				336
Total		$	21,767				14,624				14,126

Scheule of deferred tax assets and liabilities

The sources and tax effects of temporary differences that give rise to significant portions of the deferred tax assets (liabilities) at December 31, 2017 and 2016 are presented below:

($ In thousands)		2017				2016
Deferred tax assets:
Allowance for loan losses		$	5,448				8,758
Excess book over tax pension plan cost			—				290
Deferred compensation			1,220				36
Federal & state net operating loss carryforwards			2,125				868
Accruals, book versus tax			2,546				2,287
Pension liability adjustments			748				1,852
Foreclosed real estate			740				610
Basis differences in assets acquired in FDIC transactions			1,311				2,539
Nonqualified stock options			248				545
Partnership investments			232				160
Unrealized gain on securities available for sale			517				1,138
SBA servicing asset			139				—
All other			42				191
Gross deferred tax assets			15,316				19,274
Less: Valuation allowance			(44	)			(43	)
Net deferred tax assets			15,272				19,231
Deferred tax liabilities:
Loan fees			(1,880	)			(1,548	)
Excess book over tax pension plan cost			(95	)			—
Depreciable basis of fixed assets			(3,122	)			(954	)
Amortizable basis of intangible assets			(7,915	)			(12,156	)
FHLB stock dividends			(658	)			(409	)
Trust preferred securities			(616	)			—
Purchase accounting adjustments			(2,133	)			—
All other			(28	)			(12	)
Gross deferred tax liabilities			(16,447	)			(15,079	)
Net deferred tax asset (liability) - included in other assets		$	(1,175	)			4,152

Schedule of effective tax rate reconciliation

The following is a reconcilement of federal income tax expense at the statutory rate of 35% to the income tax provision reported in the financial statements.

($ In thousands)		2017				2016				2015
Tax provision at statutory rate		$	23,709				14,746				14,405
Increase (decrease) in income taxes resulting from:
Tax-exempt interest income			(1,461	)			(1,202	)			(930	)
Low income housing tax credits			(596	)			(192	)			(191	)
Non-deductible interest expense			24				16				11
State income taxes, net of federal benefit			1,780				1,158				1,152
Change in valuation allowance			(1	)			(24	)			(58	)
Impact of tax reform			(1,269	)			—				—
Other, net			(419	)			122				(263	)
Total		$	21,767				14,624				14,126

X

- Definition

The tabular disclosure for the components of income tax expense.

+ References

No definition available.

+ Details

Name:	fbp_ScheduleOfComponentsOfIncomeTaxExpenseBenefit1TableTextBlock
Namespace Prefix:	fbp_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration