ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB)

3 Months Ended

Mar. 31, 2019

Advances from Federal Home Loan Banks [Abstract]

ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) [Text Block]

NOTE 18 – ADVANCES FROM THE FEDERAL HOME LOAN BANK

The following is a summary of the advances from the FHLB:
		March 31,		December 31,
		2019		2018
	(In thousands)
	Long-term fixed-rate advances from FHLB, with a weighted-average
	interest rate of 2.07%	$	740,000	$	740,000

Advances from FHLB mature as follows:
		March 31,
		2019
	(In thousands)
	Over six months to one year	$	205,000
	Over one to three years		335,000
	Over three to four years		200,000
	Total	$	740,000

As of March 31, 2019, the Corporation used $182.0 million in letters of credit issued by the FHLB as pledges for public deposits in the Virgin Islands and had additional capacity of approximately $455.4 million on this credit facility based on collateral pledged at the FHLB, including a haircut reflecting the perceived risk associated with the collateral.