REGULATORY MATTERS, COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Corporations and its banking subsidiarys regulatory capital positions [Table Text Block]

Regulatory Requirements

Actual

For Capital Adequacy Purposes

To be Well -Capitalized

Thresholds 

Amount

Ratio

Amount

Ratio

Amount

Ratio

(Dollars in thousands)

As of December 31, 2021

Total Capital (to

 risk-weighted assets)

 First BanCorp.

$

2,433,953

20.50%

$

949,637

8.0%

N/A

N/A

 FirstBank

$

2,401,390

20.23%

$

949,556

8.0%

$

1,186,944

10.0%

CET1 Capital

 (to risk-weighted assets)

 First BanCorp.

$

2,112,630

17.80%

$

534,171

4.5%

N/A

N/A

 FirstBank

$

2,150,317

18.12%

$

534,125

4.5%

$

771,514

6.5%

Tier I Capital (to

 risk-weighted assets)

 First BanCorp.

$

2,112,630

17.80%

$

712,228

6.0%

N/A

N/A

 FirstBank

$

2,258,317

19.03%

$

712,167

6.0%

$

949,556

8.0%

Leverage ratio

 First BanCorp.

$

2,112,630

10.14%

$

833,091

4.0%

N/A

N/A

 FirstBank

$

2,258,317

10.85%

$

832,773

4.0%

$

1,040,967

5.0%

As of December 31, 2020

Total Capital (to

 risk-weighted assets)

 First BanCorp.

$

2,416,682

20.37%

$

948,890

8.0%

N/A

N/A

 FirstBank

$

2,360,493

19.91%

$

948,624

8.0%

$

1,185,780

10.0%

CET1 Capital

 (to risk-weighted assets)

 First BanCorp.

$

2,053,045

17.31%

$

533,751

4.5%

N/A

N/A

 FirstBank

$

1,903,251

16.05%

$

533,601

4.5%

$

770,757

6.5%

Tier I Capital (to

 risk-weighted assets)

 First BanCorp.

$

2,089,149

17.61%

$

711,667

6.0%

N/A

N/A

 FirstBank

$

2,211,251

18.65%

$

711,468

6.0%

$

948,624

8.0%

Leverage ratio

 First BanCorp.

$

2,089,149

11.26%

$

742,352

4.0%

N/A

N/A

 FirstBank

$

2,211,251

11.92%

$

741,841

4.0%

$

927,301

5.0%

Schedule of detail of commitments to extend credit, standby letters of credit and commitments to sell loans [Table Text Block]

The following table summarizes commitments to extend credit and standby letters of credit as of the indicated dates:

December 31, 

2021

2020

(In thousands)

Financial instruments whose contract amounts represent credit risk:

 Commitments to extend credit:

 Construction undisbursed funds

$

197,917

$

119,900

 Unused personal lines of credit 

1,180,824

1,180,860

 Commercial lines of credit 

725,259

759,947

 Commercial letters of credit

151,140

135,987

 Standby letters of credit

4,342

4,964