OTHER BORROWINGS

9 Months Ended

Sep. 30, 2016

OTHER BORROWINGS

NOTE 18 – OTHER BORROWINGS

Other borrowings consist of:

		September 30,		December 31,
	(In thousands)	2016		2015
Junior subordinated debentures due in 2034,
interest-bearing at a floating rate of 2.75%
over 3-month LIBOR (3.61% as of September 30, 2016
and 3.28% as of December 31, 2015)		$	97,630	$	97,626
Junior subordinated debentures due in 2034,
interest-bearing at a floating rate of 2.50%
over 3-month LIBOR (3.36% as of September 30, 2016
and 3.07% as of December 31, 2015) (1)			118,557		128,866
		$	216,187	$	226,492
(1)	Refer to Note 13 - Non-Consolidated Variable Interest Entities and Servicing Assets - Trust Preferred Securities for additional information about the Corporation's repurchase and cancellation of $10 million of trust preferred securities associated with these junior subordinated debentures.