OTHER BORROWINGS

9 Months Ended

Sep. 30, 2020

Subordinated Borrowings [Abstract]

OTHER BORROWINGS

NOTE 20 – OTHER BORROWINGS

Other borrowings, as of the indicated dates, consisted of:

	September 30,		December 31,
	2020		2019
	(In thousands)
Floating rate junior subordinated debentures (FBP Statutory Trust I) (1) (2)	$	65,205	$	65,593
Floating rate junior subordinated debentures (FBP Statutory Trust II) (3)		118,557		118,557
	$	183,762	$	184,150

Amount represents junior subordinated interest-bearing debentures due in 2034 with a floating interest rate of 2.75% over 3-month LIBOR (3.00% as of September 30, 2020 and 4.65% as of December 31, 2019).Amount represents junior subordinated interest-bearing debentures due in 2034 with a floating interest rate of 2.50% over 3-month LIBOR (2.73% as of September 30, 2020 and 4.41% as of December 31, 2019).