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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

____________

 

FORM 10-Q

(Mark One)

 

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the quarterly period ended March 31, 2020

or

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from ___________________ to ___________________

 

COMMISSION FILE NUMBER 001-14793

 

First BanCorp.

(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

 

Puerto Rico		66-0561882
(State or other jurisdiction of incorporation or organization)		(IRS Employer Identification No.)
1519 Ponce de León Avenue, Stop 23 Santurce, Puerto Rico (Address of principal executive offices)		00908 (Zip Code)
(787) 729-8200
(Registrant’s telephone number, including area code)
Not applicable (Former name, former address and former fiscal year, if changed since last report)

 

Securities registered pursuant to Section 12(b) of the Act:
Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock ($0.10 par value)		FBP		New York Stock Exchange

 

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes☑ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

 

Yes☑ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer☑		Accelerated filer☐
Non-accelerated filer ☐		Smaller reporting company ☐
		Emerging growth company ☐

 

 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13 (a) of the Exchange Act.

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐No ☑

 

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

 

Common stock: 218,157,639 shares outstanding as of May 1, 2020.

 

---

 

FIRST BANCORP.

INDEX PAGE

 

 

PART I. FINANCIAL INFORMATION	PAGE
Item 1. Financial Statements:
Consolidated Statements of Financial Condition (Unaudited) as of March 31, 2020 and December 31, 2019	6
Consolidated Statements of Income (Unaudited) – Quarters ended March 31, 2020 and 2019	7
Consolidated Statements of Comprehensive Income (Unaudited) – Quarters ended March 31, 2020 and 2019	8
Consolidated Statements of Cash Flows (Unaudited) – Quarters ended March 31, 2020 and 2019	9
Consolidated Statements of Changes in Stockholders’ Equity (Unaudited) – Quarters ended March 31, 2020 and 2019	10
Notes to Consolidated Financial Statements (Unaudited)	11
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations	114
Item 3. Quantitative and Qualitative Disclosures About Market Risk	178
Item 4. Controls and Procedures	178
PART II. OTHER INFORMATION
Item 1. Legal Proceedings	179
Item 1A. Risk Factors	179
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	181
Item 3. Defaults Upon Senior Securities	182
Item 4. Mine Safety Disclosures	182
Item 5. Other Information	182
Item 6. Exhibits	182
SIGNATURES

2

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Forward Looking Statements

 

This Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which are subject to the safe harbor created by such sections. When used in this Form 10-Q or future filings by First BanCorp. (the “Corporation,” “we,” “us,” or “our”) with the U.S. Securities and Exchange Commission (the “SEC”), in the Corporation’s press release or in other public or stockholder communications made by the Corporation, or in oral statements made on behalf of the Corporation by, or with the approval of, an authorized executive officer, the words or phrases “would,” “intends,” “will,” “expect,” “should,” “anticipate,” “look forward,” “believes,” and other terms of similar meaning or import in connection with any discussion of future operating, financial or other performance are meant to identify “forward-looking statements.”

 

First BanCorp. cautions readers not to place undue reliance on any such “forward-looking statements,” which speak only as of the date made, and advises readers that these forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties, estimates, and assumptions by us that are difficult to predict. Various factors, some of which are beyond our control, could cause actual results to differ materially from those expressed in, or implied by, such forward-looking statements.

 

Factors that could cause results to differ from those expressed in the Corporation’s forward-looking statements include, but are not limited to, risks described or referenced in Part II, Item 1A., “Risk Factors,” below and in Part I, Item 1A., “Risk Factors,” in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2019 (the “2019 Annual Report on Form 10-K”) and the following:

 

 uncertainties relating to the impact of the COVID-19 pandemic on the Corporation’s business, operations, employees, credit quality, financial condition and net income, including because of uncertainties as to the extent and duration of the pandemic and the impact of the pandemic on consumer spending, borrowing and saving habits, the underemployment and unemployment rates, the Puerto Rico economy and the global economy, as well as the risk that COVID-19 may exacerbate any other factor that could cause our actual results to differ materially from those expressed in or implied by any forward-looking statements;

 

 risks related to the effect on the Corporation and its customers of governmental, regulatory, or central bank responses to COVID-19 and the Corporation’s participation in any such responses or programs, such as the Paycheck Protection Program established by the Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020, including any judgments, claims, damages, penalties, fines or reputational damage resulting from claims or challenges against the Corporation by governments, regulators, customers or otherwise, relating to the Corporation’s participation in any such responses or programs;

 risks, uncertainties and other factors related to the proposed acquisition of Banco Santander Puerto Rico (“BSPR”), including the impact of the COVID-19 pandemic on the ability to obtain regulatory approvals and the timing of such regulatory action and the ability to meet other closing conditions to the acquisition on a timely basis; the risk that deposit attrition, customer loss and/or revenue loss prior to or following the acquisition may exceed expectations, including because of the impact of the COVID-19 pandemic on customers; the risk that significant costs, expenses, and resources associated with or in funding the acquisition may be higher than expected; the ability to successfully complete the integration of systems, procedures, and personnel of BSPR into FirstBank Puerto Rico (“FirstBank” or the “Bank”) that are necessary to make the transaction economically successful; the risk that the Corporation may not be able to effectively integrate BSPR into the Corporation’s internal control over financial reporting; and the risk that the cost savings and any other synergies from the acquisition may not be fully realized or may take longer to realize than expected;

 

 uncertainty as to the ultimate outcomes of actions taken, or those that may be taken, by the Puerto Rico government, or the oversight board established by the Puerto Rico Oversight, Management, and Economic Stability Act (“PROMESA”) to address the Commonwealth of Puerto Rico’s financial problems, including a court-supervised debt restructuring process similar to U.S. bankruptcy protection undertaken pursuant to Title III of PROMESA, the designation by the PROMESA oversight board of Puerto Rico municipalities as instrumentalities covered under PROMESA, the effects of measures included in the Puerto Rico government fiscal plan, or any revisions to it, on our clients and loan portfolios, and any potential impact from future economic or political developments in Puerto Rico;

 

 

3

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 changes in economic and business conditions, including those caused by the COVID-19 pandemic or other global or regional health crises as well as past or future natural disasters, such as the earthquakes affecting Puerto Rico’s southern coast, that directly or indirectly affect the financial health of the Corporation’s customer base in the geographic areas we serve and may result in increased costs or losses of property and equipment and other assets;

 

 the impact that a slowing economy and increased unemployment may have on the performance of our loan and lease portfolio, the market price of our investment securities, the availability of sources of funding and the demand for our products;

 

 uncertainty as to the timing of the receipt of disaster relief funds allocated to Puerto Rico;

 

 a decrease in demand for the Corporation’s products and services, resulting in lower revenues and earnings because of the continued economic recession in Puerto Rico;

 

 uncertainty as to the availability of certain funding sources, such as brokered CDs;

 

 the deteriorating weakness of the real estate markets and of the consumer and commercial sectors, which may be exacerbated by the unemployment and government restrictions imposed as a result of the COVID-19 pandemic and their impact on the credit quality of the Corporation’s loans and other assets, which have contributed and may continue to contribute to, among other things, higher than targeted levels of non-performing assets, charge-offs and provisions for credit losses, and may subject the Corporation to further risk from loan defaults and foreclosures;

 

 the impact of changes in accounting standards or assumptions in applying those standards, including the continuing impact of the COVID-19 pandemic on the determination of the allowance for credit losses required by the new CECL accounting standard effective since January 1, 2020;

 

 the ability of FirstBank to realize the benefits of its net deferred tax assets;

 

 the ability of FirstBank to generate sufficient cash flow to make dividend payments to the Corporation;

 

 adverse changes in general economic conditions in Puerto Rico, the United States (the “U.S.”), the U.S. Virgin Islands (the “USVI”), and the British Virgin Islands (the “BVI”), including the interest rate environment, market liquidity, housing absorption rates, real estate prices, and disruptions in the U.S. capital markets, including as a result of the COVID-19 pandemic, which may further reduce interest margins, affect funding sources and demand for all of the Corporation’s products and services, and reduce the Corporation’s revenues and earnings and the value of the Corporation’s assets;

 

 uncertainty related to the effect of the discontinuation of the London Interbank Offered Rate at the end of 2021;

 

 an adverse change in the Corporation’s ability to attract new clients and retain existing ones;

 

 the risk that additional portions of the unrealized losses in the Corporation’s investment portfolio are determined to be other-than-temporary, including additional impairments on the Corporation’s remaining $8.1 million exposure to the Puerto Rico government’s debt securities held as part of the available-for-sale securities portfolio;

 

 uncertainty about legislative, tax or regulatory changes that affect financial services companies in Puerto Rico, the U.S., and the USVI and BVI, which could affect the Corporation’s financial condition or performance and could cause the Corporation’s actual results for future periods to differ materially from prior results and anticipated or projected results;

 

 

4

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 changes in the fiscal and monetary policies and regulations of the U.S. federal government and the Puerto Rico and other governments, including those determined by the Board of the Governors of the Federal Reserve System (the “Federal Reserve Board”), the Federal Reserve Bank of New York (the “New York FED” or “Federal Reserve”), the Federal Deposit Insurance Corporation (the “FDIC”), government-sponsored housing agencies, and regulators in Puerto Rico, and the USVI and BVI;

 

 the risk of possible failure or circumvention of the Corporation’s internal controls and procedures and the risk that the Corporation’s risk management policies may not be adequate;

 

 the Corporation’s ability to identify and address cyber-security incidents, such as data security breaches, malware, “denial of service” attacks, “hacking” and identity theft, a failure of which could disrupt our business, may result in misuse or misappropriation of confidential or proprietary information, and could result in the disruption or damage to our systems, increased costs and losses or an adverse effect to our reputation;

 

 the risk that the FDIC may increase the deposit insurance premium and/or require special assessments to replenish its insurance fund, causing an additional increase in the Corporation’s non-interest expenses;

 

 the impact on the Corporation’s results of operations and financial condition of business acquisitions, such as the pending acquisition of BSPR, and dispositions;

 

 a need to recognize impairments on the Corporation’s financial instruments, goodwill and other intangible assets relating to business acquisitions, including as a result of the COVID-19 pandemic;

 

 the effect of changes in the interest rate environment, including as a result of the impact of the COVID-19 pandemic on the global economy, on the Corporation’s businesses, business practices and results of operations;

 

 the risk that the impact of the occurrence of any of these uncertainties on the Corporation’s capital would preclude further growth of the Bank and preclude the Corporation’s Board of Directors from declaring dividends;

 

 uncertainty as to whether FirstBank will be able to continue to satisfy its regulators regarding, among other things, its asset quality, liquidity plans, maintenance of capital levels and compliance with applicable laws, regulations and related requirements; and

 

 general competitive factors and industry consolidation.

 

The Corporation does not undertake, and specifically disclaims any obligation, to update any “forward-looking statements” to reflect occurrences or unanticipated events or circumstances after the date of such statements, except as required by the federal securities laws.

5

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FIRST BANCORP.

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(Unaudited)

 

	March 31, 2020			December 31, 2019
(In thousands, except for share information)
ASSETS
Cash and due from banks	$	990,007		$	546,391
Money market investments:
Time deposits with other financial institutions		300			300
Other short-term investments		97,408			97,408
Total money market investments		97,708			97,708
Investment securities available for sale, at fair value:
Securities pledged with creditors' right to repledge		323,772			130,165
Other investment securities available for sale		1,608,406			1,993,360
Total investment securities available for sale, at fair value (amortized cost 2020-
$1,875,677; 2019 - $2,109,008; allowance for credit losses of $368 as of March 31, 2020)		1,932,178			2,123,525
Investment securities held to maturity, at amortized cost, net of allowance for credit losses
of $9,268 as of March 31, 2020 (fair value 2020 - $111,162; 2019 $110,374)		129,266			138,675
Equity securities		39,630			38,249
Loans, net of allowance for credit losses of $292,774
(2019 - $155,139)		8,746,173			8,847,066
Loans held for sale, at lower of cost or market		12,046			39,477
Total loans, net		8,758,219			8,886,543
Premises and equipment, net		149,863			149,989
Other real estate owned (“OREO”)		99,674			101,626
Accrued interest receivable on loans and investments		49,425			50,205
Deferred tax asset, net		307,829			264,842
Other assets		494,178			213,513
Total assets	$	13,047,977		$	12,611,266
LIABILITIES
Non-interest-bearing deposits	$	2,404,932		$	2,367,856
Interest-bearing deposits		7,157,381			6,980,573
Total deposits		9,562,313			9,348,429
Loans payable		60,000			-
Securities sold under agreements to repurchase		300,000			100,000
Advances from the Federal Home Loan Bank (“FHLB”)		565,000			570,000
Other borrowings		184,150			184,150
Accounts payable and other liabilities		176,763			180,614
Total liabilities		10,848,226			10,383,193
STOCKHOLDERSʼ EQUITY
Preferred stock, authorized, 50,000,000 shares:
Non-cumulative Perpetual Monthly Income Preferred Stock:
22,004,000 shares issued, 1,444,146 shares outstanding, aggregate liquidation value of $36,104		36,104			36,104
Common stock, $0.10 par value, authorized, 2,000,000,000 shares;
222,955,394 shares issued (2019 - 222,103,721 shares issued)		22,296			22,210
Less: Treasury stock (at par value)		(480)			(474)
Common stock outstanding, 218,160,725 shares outstanding (2019 - 217,359,337 shares outstanding)		21,816			21,736
Additional paid-in capital		942,516			941,652
Retained earnings, includes legal surplus reserve of $97,586
as of March 31, 2020 and December 31, 2019		1,150,199			1,221,817
Accumulated other comprehensive income, net of tax of $7,752 as of March 31, 2020 and December 31, 2019		49,116			6,764
Total stockholdersʼ equity		2,199,751			2,228,073
Total liabilities and stockholdersʼ equity	$	13,047,977		$	12,611,266
The accompanying notes are an integral part of these statements.

6

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FIRST BANCORP.

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

	Quarter Ended
	March 31, 2020			March 31, 2019
(In thousands, except per share information)
Interest and dividend income:
Loans	$	147,126		$	147,625
Investment securities		15,876			16,018
Money market investments and interest-bearing cash accounts		2,262			2,829
Total interest income	165,264			166,472
Interest expense:
Deposits		19,654			17,492
Loans payable		3			-
Securities sold under agreements to repurchase		1,918			2,548
Advances from FHLB		3,008			3,785
Other borrowings		2,032			2,466
Total interest expense	26,615			26,291
Net interest income		138,649			140,181
Provision for credit losses:
Loans and Finance Leases		74,045			11,820
Unfunded loan commitments		1,819			(412)
Debt securities		1,502			-
Provision for credit losses		77,366			11,408
Net interest income after provision for credit losses	61,283			128,773
Non-interest income:
Service charges and fees on deposit accounts		5,957			5,716
Mortgage banking activities		3,788			3,627
Net gain on sales of investments		8,247			-
Insurance commission income		4,582			4,250
Other non-interest income		7,626			8,950
Total non-interest income	30,200			22,543
Non-interest expenses:
Employees' compensation and benefits		42,859			39,296
Occupancy and equipment		15,127			16,055
Business promotion		3,622			3,706
Professional fees		11,793			10,310
Taxes, other than income taxes		3,880			3,820
FDIC deposit insurance		1,522			1,698
Net loss on OREO and OREO expenses		1,188			3,743
Credit and debit card processing expenses		3,950			4,154
Communications		1,877			1,752
Merger and restructuring costs		845			-
Other non-interest expenses		5,521			5,850
Total non-interest expenses	92,184			90,384
(Loss) income before income taxes		(701)			60,932
Income tax (benefit) expense		(2,967)			17,618
Net income	$	2,266		$	43,314
Net income attributable to common stockholders	$	1,597		$	42,645
Net income per common share:
Basic	$	0.01		$	0.20
Diluted	$	0.01		$	0.20
The accompanying notes are an integral part of these statements.

7

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FIRST BANCORP.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

 

	Quarter Ended
		March 31,			March 31,
	2020				2019
(In thousands)
Net income	$	2,266		$	43,314
Other comprehensive income:
Unrealized (loss) gain on debt securities for which credit losses has been recognized		(176)			9
Reclassification adjustment for provision for credit loss expense		368			-
Reclassification adjustment for net gain included in net income on sales of
available-for-sale securities with no credit losses previously recognized		(8,247)			-
All other unrealized holding gains on available-for-sale securities		50,407			20,501
Other comprehensive income for the period		42,352			20,510
Total comprehensive income	$	44,618		$	63,824
The accompanying notes are an integral part of these statements.

8

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FIRST BANCORP.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

	Quarter Ended
	March 31, 2020			March 31, 2019
(In thousands)
Cash flows from operating activities:
Net income	$	2,266		$	43,314
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		4,486			4,449
Amortization of intangible assets		713			799
Provision for credit losses		77,366			11,408
Deferred income tax (benefit) expense		(11,654)			13,900
Stock-based compensation		1,142			1,018
Gain on sales of investment securities		(8,247)			-
Unrealized gain on derivative instruments		(17)			(589)
Net loss (gain) on disposals or sales of premises and equipment and other assets		15			(17)
Net gain on sales of loans		(2,538)			(1,536)
Net amortization/accretion of premiums, discounts, and deferred loan fees and costs		(1,369)			(2,023)
Originations and purchases of loans held for sale		(62,989)			(74,225)
Sales and repayments of loans held for sale		92,586			78,654
Amortization of broker placement fees		158			189
Net amortization/accretion of premiums and discounts on investment securities		1,307			39
Increase in accrued interest receivable		(197)			(669)
Increase in accrued interest payable		523			736
Decrease in other assets		6,400			14,176
Decrease in other liabilities		(8,419)			(6,641)
Net cash provided by operating activities		91,532			82,982
Cash flows from investing activities:
Net (disbursements) repayments on loans held for investment		(68,997)			(175,142)
Proceeds from sales of loans held for investment		3,610			4,998
Proceeds from sales of repossessed assets		8,966			11,250
Purchases of available-for-sale securities		(147,801)			-
Proceeds from principal repayments and maturities of available-for-sale securities		104,188			57,809
Proceeds from principal repayments of held-to-maturity securities		141			142
Additions to premises and equipment		(4,375)			(4,046)
Net purchases/redemptions of other investment securities		(1,352)			100
Proceeds from sales of premises and equipment and other assets		-			18
Net cash used in investing activities		(105,620)			(104,871)
Cash flows from financing activities:
Net increase in deposits		214,408			84,436
Net increase (decrease) in short-term borrowings		55,000			(50,086)
Proceeds from long-term reverse repurchase agreements		200,000			-
Repurchase of outstanding common stock		(198)			(1,882)
Dividends paid on common stock		(10,837)			(6,538)
Dividends paid on preferred stock		(669)			(669)
Net cash provided by financing activities		457,704			25,261
Net increase in cash and cash equivalents		443,616			3,372
Cash and cash equivalents at beginning of period		644,099			586,203
Cash and cash equivalents at end of period	$	1,087,715		$	589,575
Cash and cash equivalents include:
Cash and due from banks	$	990,007		$	581,838
Money market instruments		97,708			7,737
	$	1,087,715		$	589,575
The accompanying notes are an integral part of these statements.

9

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FIRST BANCORP.

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY

(Unaudited)

 

	Quarter Ended
	March 31,			March 31,
	2020			2019
(In thousands)
Preferred Stock	$	36,104		$	36,104
Common Stock Outstanding:
Balance at beginning of period		21,736			21,724
Common stock withheld for taxes		(5)			(17)
Restricted stock grants		85			26
Balance at end of period		21,816			21,733
Additional Paid-In-Capital:
Balance at beginning of period		941,652			939,674
Stock-based compensation		1,142			1,018
Common stock withheld for taxes		(193)			(1,865)
Restricted stock grants		(85)			(26)
Balance at end of period		942,516			938,801
Retained Earnings:
Balance at beginning of period		1,221,817			1,087,617
Impact of adoption of Accounting Standards Update No. ("ASU") 2016-13 (See Note 1)		(62,322)			-
Balance at beginning of period (as adjusted for impact of adoption of ASU 2016-13)		1,159,495			-
Net income		2,266			43,314
Dividends on common stock (2020 - $ 0.05 per share; 2019 - $ 0.03 per share)		(10,893)			(6,538)
Dividends on preferred stock		(669)			(669)
Balance at end of period		1,150,199			1,123,724
Accumulated Other Comprehensive Income (Loss), net of tax:
Balance at beginning of period		6,764			(40,415)
Other comprehensive income, net of tax		42,352			20,510
Balance at end of period		49,116			(19,905)
Total stockholdersʼ equity	$	2,199,751		$	2,100,457
The accompanying notes are an integral part of these statements.

10

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FIRST BANCORP.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

 

NOTE 1 – BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

 

The Consolidated Financial Statements (unaudited) of First BanCorp. (the “Corporation”) have been prepared in conformity with the accounting policies stated in the Corporation’s Audited Consolidated Financial Statements included in the 2019 Annual Report on Form 10-K and accounting policies affected by the adoption, on January 1, 2020, of Accounting Standards Update No. (“ASU”) 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, as amended (“ASC 326”), as further described below. Certain information and note disclosures normally included in the financial statements prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) have been condensed or omitted from these statements pursuant to the rules and regulations of the SEC and, accordingly, these financial statements should be read in conjunction with the Audited Consolidated Financial Statements of the Corporation for the year ended December 31, 2019, which are included in the 2019 Annual Report on Form 10-K. All adjustments (consisting only of normal recurring adjustments) that are, in the opinion of management, necessary for a fair presentation of the statement of financial position, results of operations and cash flows for the interim periods have been reflected. All significant intercompany accounts and transactions have been eliminated in consolidation.

 

The results of operations for the quarter ended March 31, 2020 are not necessarily indicative of the results to be expected for the entire year.

 

Risks and Uncertainties related to COVID-19

 

On March 11, 2020, the outbreak of COVID-19 (coronavirus) caused by a novel strain of the coronavirus was recognized as a pandemic by the World Health Organization, and since then has widely spread to many countries, including in the markets in which the Corporation operates. The COVID-19 pandemic has severely restricted the level of economic activity in the Corporation’s markets. In response to the COVID-19 pandemic, the Puerto Rico’s Governor issued a stay-at-home order on March 15, 2020, which she subsequently extended until May 3, 2020. In addition to mandating that every citizen stay at home except for certain essential activities, the order set out a nightly curfew and a lockdown of non-essential businesses. Since March 31, 2020, the governor instituted additional restrictive measures, including limiting travel by car, the use of protective equipment, such as masks, the maintenance of a distance of at least six feet between citizens, and a curfew between 7 p.m. to 5 a.m. Although some of these restrictions have been modified, the full lockdown of non-essential businesses continued until May 3, 2020 and the stay-at-home order and the curfew was extended until May 25, 2020. On May 1, 2020, Puerto Rico’s Governor announced a gradual reopening of the economy, allowing the reopening on May 4, 2020 of sectors such as mortgage financial services, insurance, and professional services including lawyers, engineers, accountants and dental offices. On May 11, 2020, the construction and manufacturing sectors will be allowed to resume operations. Other sectors, such as retail trade and auto sales, are expected to be allowed to reopen in mid to late May 2020, depending on how the COVID-19 trends in Puerto Rico cases develop over the upcoming weeks. As of May 2, 2020, 1,757 people in 73 municipalities in Puerto Rico had tested positive for COVID-19 and 95 people’ deaths were related to the illness, according to data provided by the Puerto Rico government.

 

The Corporation’s businesses in the other jurisdictions in which it operates have also been adversely affected. On March 26, 2020 the Florida Governor issued a stay-at-home order, and the state is expected to reopen essential operations through a phase-in process beginning on May 4, 2020. Additionally, in the U.S. Virgin Islands, the government issued a stay-at-home order on March 23, 2020, and the territory announced a plan for a phased reopening of non-essential businesses beginning on May 4, 2020.

 

The Corporation’s business, financial condition and results of operations generally rely upon the ability of the Corporation’s borrowers to repay their loans, the value of collateral underlying the Corporation’s secured loans, and demand for loans and other products and services the Corporation offers, which are highly dependent on the business environment in the Corporation’s primary markets where it operates. Governments globally intervened with fiscal policy to mitigate the impact, including the Coronavirus Aid, Relief, and Economic Security (CARES) Act in the U.S., which aimed to provide economic relief to businesses and individuals. Some of these provisions may improve the ability of impacted borrowers to pay their loans, including direct cash payments to eligible taxpayers below specified income limits, including Puerto Rico residents, expanded unemployment insurance benefits and eligibility, and relief designed to prevent layoffs and business closures at small businesses. In addition, the Puerto Rico Government and the PROMESA oversight board has allocated more than $900 million aimed to stimulate the Puerto Rico economy and provide cash flow relief to those affected by the COVID-19 pandemic.

 

 

11

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The COVID-19 pandemic, and governmental, regulatory authorities, and societal responses have also affected the Corporation’s financial results. The COVID-19 pandemic and its associated impacts on trade (including supply chains and export levels), travel, underemployment and unemployment, consumer spending, residential and commercial construction and other economic activities has resulted in less economic activity, lower equity market valuations and significant volatility and disruption in financial markets. For instance, on March 3, 2020, the Federal Reserve reduced the target federal funds rate by 50 basis points, followed by an additional reduction of 100 basis points on March 16, 2020. These reductions in interest rates and economic uncertainties, as a result of the spread of COVID-19, have adversely affected and might further adversely affect the Corporation’s results of operations. The Corporation may experience other financial impacts, though such potential impacts are unknown at this time.

 

Financial results for the quarter ended March 31, 2020 included the effect of a reserve build of $59.8 million (i.e., the amount by which the provision for credit losses of $77.4 million exceeds net charge-offs of $17.6 million), driven by the effect of the COVID-19 pandemic on forecasted economic conditions considered for the determination of the Allowance for Credit Losses (“ACL”), as further discussed below. In addition to the impact of COVID-19 on the Corporation’s ACL, the COVID-19 pandemic and the various stay-at-home and lockdown orders have resulted in a reduction of the Corporation’s transaction fee income, such as that from credit and debit cards, automated teller machines (ATMs), and point-of-sale transactions, as well as the Corporation’s volume of loan originations and closings. In working with borrowers affected by the COVID-19 pandemic, the Corporation implemented payment deferral programs to alleviate the hardships being experienced by the Corporation’s borrowers. The payment deferral programs, which the Corporation implemented in March 2020, provided deferred repayment arrangements across-the-board up to June 30, 2019 to consumer borrowers (i.e., residential mortgage, personal loans, auto loans, finance leases, small loans, and credit cards) who qualify for the program based, among other things, on the delinquency status of the loan on March 16, 2019, and who did not make their payment corresponding to the month of March, with the possibility of extension up to August 31, 2020, if needed. For commercial loans, any request for payment deferral is analyzed on a case by case basis.As of May 7, 2020, the Corporation had deferred repayment arrangements related to approximately 7,064 residential mortgage loans totaling $931.5 million, 93,629 consumer loans totaling $1.0 billion, and 741 commercial and construction loans totaling $1.8 billion. In accordance with interagency guidance issued in March 2020, these short-term deferrals are not considered troubled debt restructurings (“TDRs”) unless the borrower was previously experiencing financial difficulty and the concession granted was considered significant in relation to the exposure, based on criteria established in Accounting Standards Codification (“ASC”) Subtopic 310-40. In addition, the risk-rating on COVID-19 modified loans did not change, and these loans will not be considered past due after the deferral period if the borrowers resume their scheduled payments. The credit quality of these loans will be reevaluated after the deferral period ends.

 

In addition, as a certified Small Business Administration (“SBA”) lender, the Corporation is participating in the SBA Paycheck Protection Program (“PPP”) to help provide loans to the Corporation’s small business customers to provide them with additional working capital. As of May 7, 2020, the Corporation has received approval from the SBA for 3,792 applications received since April 3, 2020, the first date on which small business customers could apply for such loans, totaling approximately $350.6 million, of which approximately $313.2 million has already been funded.

 

As of March 31, 2020, the Corporation’s and the Bank’s capital ratios were well in excess of all regulatory requirements and the Corporation maintains high liquidity levels with the cash and liquid securities total assets ratio exceeding 17.5%, compared to 15.8% as of December 31, 2019. As of May 7, 2020, the Corporation has approximately $383.7 million in available unused lines at the Federal Home Loan Bank, and the Primary Credit FED Discount Window Program has been activated as an alternate source of liquidity with approximately $973.2 million of availability, if needed.

 

While most industries have and will continue to experience adverse impacts as a result of the COVID-19 pandemic in the immediate future, higher increases in the allowance for credit losses were made for loans in the accommodation, retail real estate, and transportation industries. The exposure to these industries represents approximately 28% of the total construction and commercial loan portfolio as of March 31, 2020. We continue to monitor unfunded commitments through the pandemic, for evidence of increased credit exposure as borrowers utilize these lines for liquidity, however, the amount of draws has not increased significantly due to the COVID-19 pandemic.

 

The ultimate extent of the impact of the COVID-19 pandemic on the Corporation’s business, financial condition and results of operations is currently uncertain and will depend on various developments and other factors, including, among others, the duration and scope of the pandemic, as well as governmental, regulatory and private sector responses to the pandemic, and the associated impacts on the economy, financial markets and our clients, employees and vendors.

 

 

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Adoption of New Accounting Requirements and Recently Issued but Not Yet Effective Accounting Requirements

 

Accounting for Financial Instruments – Credit Losses

On January 1, 2020, the Corporation adopted ASC 326, which replaces the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss (“CECL”) methodology to estimate the allowance for credit losses (the “ACL”) for the remaining estimated life of certain financial assets. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including loans held for investment and held-to-maturity debt securities. It also applies to off-balance sheet credit exposures not accounted for as insurance (e.g., unfunded loan commitments, standby letters of credit, financial guarantees, and other similar instruments). In addition, ASC 326 made changes to the accounting for available-for-sale debt securities. One such change is to require credit losses to be presented as an allowance rather than as a write-down on available-for-sale debt securities that management does not intend to sell or believes that it is more likely than not they will not be required to sell.

The Corporation adopted ASC 326 using the modified retrospective method for financial assets measured at amortized cost, including loans held for investment and held-to-maturity debt securities, and off-balance sheet credit exposures. Results for reporting periods beginning after January 1, 2020 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP.

 

The following table illustrates the transition adjustment impact of ASC 326:
(In thousands)	January 1, 2020
		ACL Under ASC 326			Pre-ASC 326			Impact of ASC 326
		Adoption Date			Adoption			Adoption
Assets:
ACL on debt securities held to maturity	$	8,134		$	-		$	8,134
ACL on Loans and Finance Leases
Residential mortgage loans	$	94,643		$	44,806		$	49,837
Commercial mortgage loans		19,888			39,194			(19,306)
Commercial and Industrial loans		29,929			15,198			14,731
Construction loans		3,167			2,370			797
Consumer loans		88,677			53,571			35,106
Total ACL on loans and finance leases		236,304			155,139			81,165
Liabilities:
ACL on off-balance sheet credit exposure	$	3,922		$	-		$	3,922
Pre-tax effect in beginning retained earnings	$	248,360		$	155,139		$	93,221
Balance sheet reclassification (1)								434
Tax effect							$	(31,333)
After-tax effect in beginning retained earnings							$	62,322

(1) Reflects the effect of the release of the excess of the previously-established ACL for loans purchased with credit deterioration (“PCD”) over the ACL determined for such loans following the CECL methodology, which resulted in a corresponding decrease to loans.

 

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The Corporation adopted ASC 326 using the prospective transition approach for PCD loans that were previously classified as purchased credit impaired (“PCI”) loans and accounted for under ASC Topic 310-30 (ASC 310-30). As allowed by ASC 326, the Corporation elected to maintain pools of loans accounted for under ASC 310-30 as “units of accounts,” conceptually treating each pool as a single asset. As of March 31, 2020, such PCD loans consisted of $131.5 million of residential mortgage loans and $2.5 million of commercial mortgage loans acquired by the Corporation as part of previously completed asset acquisitions. These previous transactions include a transaction closed on February 27, 2015, in which FirstBank acquired 10 Puerto Rico branches of Doral Bank, acquired certain assets, including PCD loans, and assumed deposits, through an alliance with Banco Popular of Puerto Rico, which was the successful lead bidder with the FDIC on the failed Doral Bank, as well as other co-bidders, and the acquisition from Doral Financial in the first quarter of 2014 of all of its rights, title and interest in first and second residential mortgage loans in full satisfaction of secured borrowings owed by such entity to FirstBank. As the Corporation is electing to maintain pools of units of account for loans previously accounted for under ASC 310-30, the Corporation is not able to remove loans from the pools until they are paid off, written off or sold (consistent with the previous practice), but is required to follow ASC 326 for purposes of ACL. Regarding interest income recognition, the prospective transition approach for PCD loans was applied at a pool level, which froze the effective interest rate of the pools as of January 1, 2020. According to regulatory guidance, the determination of nonaccrual or accrual status for PCD loans that the Corporation has elected to maintain in previously existing pools pursuant to the policy election right upon adoption of ASC 326 should be made at the pool level, not the individual asset level. In addition, the guidance provides that the Corporation can continue accruing interest and not report the PCD loans as being in nonaccrual status if the following criteria are met: (i) the Corporation can reasonably estimate the timing and amounts of cash flows expected to be collected, and (ii) the Corporation did not acquire the asset primarily for the rewards of ownership of the underlying collateral, such as use of collateral in operations or improving the collateral for resale. Thus, the Corporation continues to exclude these pools of PCD loans from nonaccrual loan statistics. In accordance with ASC 326, the Corporation did not reassess whether modifications to individual acquired loans accounted for within pools were TDR as of the date of adoption.

 

The Corporation adopted ASC 326 using the prospective transition approach for debt securities for which other-than-temporary impairment (“OTTI”) had been recognized prior to January 1, 2020, such as available-for-sale private label mortgage-backed securities (“MBS”). As a result, the amortized cost basis for such debt securities remains the same before and after the effective date of ASC 326. The effective interest rate on these debt securities was not changed. Amounts previously recognized in accumulated other comprehensive income (“OCI”) as of January 1, 2020 relating to improvements in cash flows expected to be collected will be accreted into income over the remaining life of the asset. Recoveries of amounts previously written off relating to improvements in cash flows after January 1, 2020 will be recorded in earnings when received.

 

Significant Accounting Policies affected by the adoption of ASC 326

 

Investment securities: The Corporation classifies its investments in debt and equity securities into one of four categories:

 

Held-to-maturity — Securities that the entity has the intent and ability to hold to maturity. These securities are carried at amortized cost. The Corporation may not sell or transfer held-to-maturity securities without calling into question its intent to hold other debt securities to maturity, unless a nonrecurring or unusual event that could not have been reasonably anticipated has occurred.

 

Trading — Securities that are bought and held principally for the purpose of selling them in the near term. These securities are carried at fair value, with unrealized gains and losses reported in earnings. As of March 31, 2020 and December 31, 2019, the Corporation did not hold investment securities for trading purposes.

 

Available-for-sale — Securities not classified as held-to-maturity or trading. These securities are carried at fair value, with unrealized holding gains and losses, net of deferred taxes, reported in OCI as a separate component of stockholders’ equity. The unrealized holding gains and losses, do not affect earnings until they are realized, or an ACL is recorded.

 

Equity securities — Equity securities that do not have readily available fair values are classified as equity securities in the consolidated statements of financial condition. These securities are stated at the lower of cost or realizable value. This category is principally composed of FHLB stock that is owned by the Corporation to comply with FHLB regulatory requirements. The realizable value of the stock equals its cost. Also included in this category are marketable equity securities held at fair value with changes in unrealized gains or losses recorded through earnings pursuant to the requirements of ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities.

 

Premiums and discounts on debt securities are amortized as an adjustment to interest income on investments over the life of the related securities under the interest method without anticipating prepayments, except for MBS where prepayments are anticipated. Premiums on callable debt securities, if any, are amortized to the earliest call date. Purchases and sales of securities are recognized on a trade-date basis. Gains and losses on sales are recorded on the trade date and determined using the specific identification method.

 

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A debt security is placed on nonaccrual status at the time any principal or interest payments become 90 days delinquent. Interest accrued but not received for a security placed on non-accrual is reversed against interest income. No debt security is in nonaccrual status as of March 31, 2020 and December 31, 2019.

 

Allowance for Credit Losses – Held-to-Maturity Debt Securities: The Corporation measures expected credit losses on held-to-maturity securities by major security type. As of March 31, 2020, the held-to-maturity securities portfolio consisted of Puerto Rico municipal bonds totaling $138.5 million. Approximately 70% of the held-to-maturity municipal bonds were issued by three of the largest municipalities in Puerto Rico. The vast majority of revenues of these three municipalities is independent of the Puerto Rico central government. These obligations typically are not issued in bearer form, nor are they registered with the SEC, and are not rated by external credit agencies. In most cases, these bonds have priority over the payment of operating costs and expenses of the municipality, which are required by law to levy special property taxes in such amounts as are required for the payment of all of their respective general obligation bonds and loans. Accrued interest receivable on held-to-maturity debt securities totaled $1.9 million at March 31, 2020 ($3.9 million as of December 31, 2019) and is excluded from the estimate of credit losses.

 

The ACL for the held-to-maturity Puerto Rico municipal bonds ($9.3 million as of March 31, 2020) considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. These financing arrangements with Puerto Rico municipalities were issued in bond form and accounted for as securities but underwritten as loans with features that are typically found in commercial loans. Accordingly, similar to commercial loans, an internal risk rating (i.e., pass, special mention, substandard, doubtful, loss) is assigned to each bond at the time of issuance and monitored on a continuous basis with a formal assessment completed, at a minimum, on a quarterly basis. The ACL for held-to-maturity Puerto Rico municipal bonds is determined based on the product of a cumulative probability of default (PD) and loss given default (LGD), and the amortized cost basis of each bond over its remaining expected life. PD estimates represent the point-in-time as of which the PD is developed, updated quarterly based on, among other things, the payment performance experience, financial performance and market value indicators, and current and forecasted relevant forward-looking macroeconomic variables over the expected life of the bonds to determine a lifetime term structure PD curve. LGD estimates are determined based on, among other things, historical charge-off events and recovery payments (if any), government sector historical loss experience, as well as relevant current and forecasted macroeconomic expectations of variables, such as unemployment rates, interest rates, and market risk factors based on industry performance, to determine a lifetime term structure LGD curve. Under this approach, all future periods losses for each instrument are calculated using the PDs and LGDs loss rates derived from the term structure curves applied to the amortized cost basis of each bond. For the relevant macroeconomic expectations of variables, the methodology considers an initial forecast period (“reasonable and supportable period”) of 2 years and a reversion period of up to 3 years, utilizing a straight-line approach and reverting back to the historical macroeconomic mean. After the reversion period, a historical loss forecast period covering the remaining contractual life is used based on the changes in key historical economic variables during representative historical expansionary and recessionary periods.

 

Refer to Note 5 - Investment Securities for additional information about reserve balances for held-to-maturity debt securities, activity during the period, and information about changes in circumstances that caused changes in the ACL for held-to-maturity debt securities during the first quarter of 2020.

 

Allowance for Credit Losses – Available-for-Sale Debt Securities: For available-for-sale debt securities in an unrealized loss position, the Corporation first assesses whether it intends to sell, or it is more likely than not that it will be required to sell, the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security’s amortized cost basis is written off to fair value through income. For available-for-sale debt securities that do not meet the aforementioned criteria, the Corporation evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, management considers the cash position of the issuer and its cash and capital generation capacity, which could increase or diminish the issuer’s ability to repay its bond obligations, the extent to which the fair value is less than the amortized cost basis, any adverse change to the credit conditions and liquidity of the issuer, taking into consideration the latest information available about the financial condition of the issuer, credit ratings, the failure of the issuer to make scheduled principal or interest payments, recent legislation and government actions affecting the issuer’s industry, and actions taken by the issuer to deal with the economic climate. The Corporation also takes into consideration changes in the near-term prospects of the underlying collateral of a security, if any, such as changes in default rates, loss severity given default, and significant changes in prepayment assumptions and the level of cash flows generated from the underlying collateral, if any, supporting the principal and interest payments on the debt securities. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security is compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an ACL is recorded for the credit loss, limited by the amount by which the fair value is less than the amortized cost basis. Any impairment that has not been recorded through an ACL is recognized in OCI.

 

Changes in the ACL are recorded as provision for (or reversal of) credit loss expense. Losses are charged against the allowance when management believes the uncollectibility of an available-for-sale security is confirmed or when either of the criteria regarding intent or requirement to sell is met.

 

 

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The ACL for available-for-sale securities as of March 31, 2020 amounted to $0.3 million. Available-for-sale debt securities held by the Corporation at quarter-end primarily consisted of securities issued by U.S. government-sponsored entities (“GSEs”), private label MBS, and certain bonds issued by the Puerto Rico Housing Finance Authority (“PRHFA”), a government instrumentality of the Commonwealth of Puerto Rico. Given the explicit and implicit guarantees provided by the U.S. federal government, the Corporation believes the credit risk in securities issued by the GSEs is low. The Corporation’s credit loss-impairment assessment was concentrated on private label MBS and PRHFA debt securities. For further information, including the methodology and assumptions used for the discounted cash flow analyses performed on private label MBS, refer to Notes 5 – Investment Securities and Note 24 – Fair Value to the consolidated financial statements. Accrued interest receivable on available-for-sale debt securities totaled $5.6 million as of March 31, 2020 ($5.5 million as of December 31, 2019) and is excluded from the estimate of credit losses.

 

Loans Held for Investment: Loans that the Corporation has the ability and intent to hold for the foreseeable future are classified as held for investment and are reported at amortized cost, net of the allowance for credit losses. The substantial majority of the Corporation’s loans are classified as held for investment. Amortized cost is the principal outstanding balance, net of unearned interest, cumulative charge-offs, unamortized deferred origination fees and costs, and unamortized premiums and discounts. Credit card loans are reported at their outstanding unpaid principal balance plus uncollected billed interest and fees net of such amounts deemed uncollectible. Accrued interest receivable on loans totaled $40.0 million as of March 31, 2020 ($39.1 million as of December 31, 2019), is reported as part of accrued interest receivable on loans and investment securities in the consolidated statements of financial condition, and is excluded from the estimate of credit losses. Interest income is accrued on the unpaid principal balance. Fees collected and costs incurred in the origination of new loans are deferred and amortized using the interest method or a method that approximates the interest method over the term of the loan as an adjustment to interest yield. Unearned interest on certain personal loans, auto loans and finance leases and discounts and premiums are recognized as income under a method that approximates the interest method. When a loan is paid-off or sold, any unamortized net deferred fee (cost) is credited (charged) to income.

 

Nonaccrual and Past-Due Loans - Loans on which the recognition of interest income has been discontinued are designated as nonaccrual. Loans are classified as nonaccrual when they are 90 days past due for interest and principal, with the exception of residential mortgage loans guaranteed by the Federal Housing Administration (the “FHA”), the Veterans Administration (the “VA”) or the PRHFA and credit card loans. It is the Corporation’s policy to report delinquent mortgage loans insured by the FHA, or guaranteed by the VA or the PRHFA, as loans past due 90 days and still accruing as opposed to nonaccrual loans since the principal repayment is insured. However, the Corporation discontinues the recognition of income relating to FHA/VA loans when such loans are over 15 months delinquent, taking into consideration the FHA interest curtailment process, and whether PRHFA loans are over 90 days delinquent. Credit card loans continue to accrue finance charges and fees until charged off at 180 days. Loans generally may be placed on nonaccrual status prior to when required by the policies described above when the full and timely collection of interest or principal becomes uncertain (generally based on an assessment of the borrower’s financial condition and the adequacy of collateral, if any). When a loan is placed on nonaccrual status, any accrued but uncollected interest income is reversed and charged against interest income and amortization of any net deferred fees is suspended. The amount of accrued interest reversed against interest income totaled $0.5 million for the quarter ended March 31, 2020. Interest income on nonaccrual loans is recognized only to the extent it is received in cash. However, when there is doubt regarding the ultimate collectability of loan principal, all cash thereafter received is applied to reduce the carrying value of such loans (i.e., the cost recovery method). Under the cost-recovery method, interest income is not recognized until the loan balance is reduced to zero. Generally, the Corporation returns a loan to accrual status when all delinquent interest and principal becomes current under the terms of the loan agreement, or after a sustained period of repayment performance (6 months) and the loan is well secured and in the process of collection, and full repayment of the remaining contractual principal and interest is expected. Regarding interest income recognition for PCD loans, the prospective transition approach for PCD assets required by ASC 326 was applied at a pool level, which froze the effective interest rate of the pools as of January 1, 2020. PCD loan pools accounted for as a single unit of accounting are not reported as nonaccrual as long as the Corporation is able to reasonably estimate the timing and amounts of cash flows expected to be collected. Loans that are past due 30 days or more as to principal or interest are considered delinquent, with the exception of residential mortgage, commercial mortgage, and construction loans, which are considered past due when the borrower is in arrears on two or more monthly payments.

 

 

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Charge-off of Uncollectible Loans - Net charge-offs consist of the unpaid principal balances of loans held for investment that the Corporation determines are uncollectible, net of recovered amounts. The Corporation records charge-offs as a reduction to the allowance for credit losses and subsequent recoveries of previously charged-off amounts are credited to the allowance for credit losses. Collateral dependent loans in the construction, commercial mortgage, and commercial and industrial loan portfolios are charged off to their net realizable value (fair value of collateral, less estimated costs to sell) when loans are considered to be uncollectible. Within the consumer loan portfolio, auto loans and finance leases are reserved once they are 120 days delinquent and are charged off to their estimated net realizable value when the collateral deficiency is deemed uncollectible (i.e., when foreclosure/repossession is probable) or when the loan is 365 days past due. Within the other consumer loan portfolio, closed-end loans are charged off when payments are 120 days in arrears, except small personal loans. Open-end (revolving credit) consumer loans, including credit card loans, and small personal loans are charged off when payments are 180 days in arrears. On a quarterly basis, residential mortgage loans that are 180 days delinquent are reviewed and charged-off, as needed, to the fair value of the underlying collateral. Generally, all loans may be charged off or written down to the fair value of the collateral prior to the application of the policies described above if a loss-confirming event has occurred. Loss-confirming events include, but are not limited to, bankruptcy (unsecured), continued delinquency, or receipt of an asset valuation indicating a collateral deficiency when the asset is the sole source of repayment.

 

Troubled Debt Restructurings - A restructuring of a loan constitutes a TDR if the creditor, for economic or legal reasons related to the debtor’s financial difficulties, grants a concession to the debtor that it would not otherwise consider. TDR loans are classified as either accrual or nonaccrual loans. Loans in accrual status may remain in accrual status when their contractual terms have been modified in a TDR if the loans had demonstrated performance prior to the restructuring and payment in full under the restructured terms is expected. Otherwise, loans on nonaccrual and restructured as a TDR will remain on nonaccrual status until the borrower has proven the ability to perform under the modified structure, generally for a minimum of six months, and there is evidence that such payments can, and are likely to, continue as agreed.

 

The Corporation removes loans from TDR classification, consistent with authoritative accounting guidance that permits the removal of a loan from the TDR classification in years following the modification, only when the following two circumstances are met:

 

 The loan is in compliance with the terms of the restructuring agreement; and

 

 The loan yields a market interest rate at the time of the restructuring. In other words, the loan was restructured with an interest rate equal to or greater than what the Corporation would have been willing to accept at the time of the restructuring for a new loan with comparable risk.

 

If both of the conditions are met, the loan can be removed from the TDR classification in calendar years after the year in which the restructuring took place. A loan that had previously been modified in a TDR and is subsequently refinanced under then-current underwriting standards at a market rate with no concessionary terms is accounted for as a new loan and is no longer reported as a TDR. The allowance for credit losses on a TDR loan is generally measured using a discounted cash flow method, as further explained below, where the expected future cash flows are discounted at the rate of the loan prior to the restructuring. For credit cards, personal loans, and nonaccrual auto loans and finance leases modified in a TDR, the ACL is measured using the same methodologies as those used for all other loans in those portfolios.

 

Collateral dependent loans - The Corporation elected the practical expedient for loans for which the repayment is expected to be provided substantially through the operation or sale of the collateral when the borrower is experiencing financial difficulties based on the Corporation’s assessment as of the reporting date. Accordingly, when the Corporation determines that foreclosure is probable, expected credit losses on collateral dependent loans are based on the fair value of the collateral at the reporting date, adjusted for undiscounted selling costs as appropriate.

 

Loans individually evaluated for credit loss determination - Loans are individually evaluated for purposes of the ACL determination when, based upon current information and events, including consideration of internal credit risk ratings, the Corporation assesses that it is probable that it will be unable to collect all amounts due (including principal and interest) according to the contractual terms of the loan agreement, primarily collateral dependent commercial and construction loans, or loans that have been modified or are reasonably expected to be modified in a TDR (except for credit cards, personal loans and nonaccrual auto loans). The Corporation individually evaluates loans having balances of $500 thousand or more and with the aforementioned conditions in the construction, commercial mortgage, and commercial and industrial portfolios. The Corporation also evaluates individually for ACL purposes certain residential mortgage loans and home equity lines of credit with high delinquency levels. Interest income recognition on loans individually evaluated for ACL determination is recognized based on the Corporation’s policy for recognizing interest on accrual and nonaccrual loans.

 

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Allowance for credit losses – Loans: The ACL for loans and finance leases is a valuation account that is deducted from the loans’ amortized cost basis to present the net amount expected to be collected on loans. Loans are charged-off against the allowance when management believes the uncollectibility of a loan balance is confirmed. Expected recoveries do not exceed the aggregate of amounts previously charged-off.

 

The Corporation estimates the allowance using relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Historical credit loss experience is a significant input for the estimation of expected credit losses, as well as adjustments to historical loss information made for differences in current loan-specific risk characteristics such as difference in underwriting standards, portfolio mix, delinquency level, or term. Additionally, the Corporation’s assessment involves evaluating key factors, which include credit and macroeconomic indicators, such as changes in unemployment rates, property values, and other relevant factors, to account for current and forecasted market conditions that are likely to cause estimated credit losses over the life of the loans to differ from historical credit losses. Expected credit losses are estimated over the contractual term of the loans, adjusted by prepayments when appropriate. The contractual term excludes expected extensions, renewals, and modifications unless either of the following applies: the Corporation has a reasonable expectation at the reporting date that a TDR will be executed with an individual borrower or the extension or renewal options are included in the original or modified contract at the reporting date and are not unconditionally cancellable by the Corporation.

 

The ACL is primarily measured based on a PD/LGD modeled approach, or individually for collateral dependent loans and certain TDR loans. The Corporation evaluates the need for changes to the ACL by portfolio segments and classes of loans within certain of those portfolio segments. Factors such as the credit risk inherent in a portfolio and how the Corporation monitors the related quality, as well as the estimation approach to estimate credit losses, were considered in the determination of such portfolio segments and classes. The Corporation has identified the following portfolio segments and measures the ACL using the following methods:

 

Residential mortgage – Residential mortgage loans are loans secured by residential real property together with the right to receive the payment of principal and interest on the loan. The majority of the Corporation’s residential loans are first lien closed-end loans secured by 1-4 single-family residential properties. As of March 31, 2020, the Corporation’s outstanding balance of residential mortgage in the Puerto Rico and Virgin Islands regions were fixed-rate loans, while in the Florida region approximately 57% of the residential mortgage loan portfolio consisted of hybrid adjustable rate mortgages. For purposes of the ACL determination, the Corporation stratifies the portfolio by two main regions (i.e., Puerto Rico/Virgin Islands region, and Florida region) and by the following two classes: (i) government-guaranteed residential mortgage loans, and (ii) conventional mortgage loans. Government-guaranteed loans are those originated to qualified borrowers under the FHA and the VA standards. Originated loans that meet the FHA’s standards qualify for the FHA’s insurance program whereas loans that meet the standards of the VA are guaranteed by such entity. No credit losses are determined for loans insured or guaranteed by the FHA or the VA due to the explicit guarantee of the U.S. federal government. Residential mortgage loans that do not qualify under the FHA or VA programs are referred to as conventional residential mortgage loans.

 

For conventional residential mortgage loans, the ACL is calculated using a PD/LGD modeled approach, or individually for collateral dependent loans with high delinquency levels or previously-charged off to their respective realizable values and loans that have been modified or are reasonably expected to be modified in a TDR. The ACL for residential mortgage loans measured using a PD/LGD model is calculated based on the product of a PD, LGD, and the amortized cost basis determined for each loan over the remaining expected life of the loan, considering prepayments. PD estimates represent the point-in-time as of which the PD is developed for each residential mortgage loan, updated quarterly based on, among other things, historical payment performance and relevant current and forward-looking macroeconomic variables, such as regional unemployment rates, over the expected life of the loans to determine a lifetime term structure PD curve. LGD estimates are determined based on, among other things, historical charge-off events and recovery payments, loan-to value attributes, and relevant current and forecasted macroeconomic variables expectations, such as the regional housing price index, to determine a lifetime term structure LGD curve. Under this approach, all future periods losses for each instrument are calculated using the PD and LGD loss rates derived from the term structure curves applied to the amortized cost basis of the loans, considering prepayments. For loans that have been modified or are reasonably expected to be modified in a TDR and loans previously-charged off to their respective realizable values, the Corporation determines the ACL based on a risk-adjusted discounted cash flow methodology using PDs and LGDs developed as explained above. Under this approach, all future cash flows (interest and principal) for each loan are adjusted by the PDs and LGDs derived from the term structure curves and prepayments and then discounted at the effective interest rate as of the reporting date (or original rate for TDRs) to arrive at the net present value of future cash flows. For these loans, the estimated credit loss amount recorded in a period represents the excess of the loss amount resulting from the model in excess of any previously-recorded partial charge-off of the loan. Residential mortgage loans that are 180 days or more past due are considered collateral dependent loans and are individually reviewed and charged-off, as needed, to the fair value of the collateral.

 

 

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Commercial mortgage – Commercial mortgage loans are loans secured primarily by commercial real estate properties for which the primary source of repayment comes from rent and lease payments generated by an income-producing property. For purposes of the ACL determination, the Corporation stratifies the portfolio by two main regions (i.e., Puerto Rico/Virgin Islands region, and Florida region). An internal risk rating (i.e., pass, special mention, substandard, doubtful, loss) is assigned to each loan at the time of origination and monitored on a continuous basis with a formal assessment completed, at a minimum, quarterly. For commercial mortgage loans, the ACL is calculated using a PD/LGD modeled approach, or individually for those loans that meet the definition of collateral dependent loans or loans that have been modified or are reasonably expected to be modified in a TDR. The ACL for commercial mortgage loans measured using a PD/LGD model is calculated based on the product of a cumulative PD and LGD, and the amortized cost basis determined for each loan over the remaining expected life of the loan, considering prepayments. PD estimates represent the point-in-time as of which the PD is developed for each commercial mortgage loan, updated quarterly based on, among other things, the payment performance experience, industry historical loss experience, property type, occupancy, and relevant current and forward-looking macroeconomic variables over the expected life of the loans to determine a lifetime term structure PD curve. LGD estimates are determined based on historical charge-off events and recovery payments, industry historical loss experience, specific attributes of the loans such as loan-to-value, debt service coverage ratios, and net operating income, as well as relevant current and forecasted macroeconomic variables expectations, such as real estate price indexes, gross domestic product (“GDP”), interest rates, and unemployment rates among others, to determine a lifetime term structure LGD curve. Under this approach, all future periods losses for each loan are calculated using the PD and LGD loss rates derived from the term structure curves applied to the amortized cost basis of the loans, considering prepayments. The ACL for collateral dependent loans, including loans modified or reasonably expected to be modified in a TDR, is determined based on the fair value of the collateral at the reporting date, adjusted for undiscounted selling costs as appropriate.

 

Commercial and Industrial – Commercial and Industrial (“C&I”) loans are unsecured and secured loans for which the primary source of repayment comes from the ongoing operations and activities conducted by the borrower and not from rental income or the sale or refinancing of any underlying real estate collateral; thus, credit risk is largely dependent on the commercial borrower’s current and expected financial condition. As of March 31, 2020, the C&I loan portfolio consisted of loans granted to large corporate customers as well as middle-market customers across several industries, and the government sector. For purposes of the ACL determination, the Corporation stratifies the C&I portfolio by two main regions (i.e., Puerto Rico/Virgin Islands region, and Florida region). An internal risk rating (i.e., pass, special mention, substandard, doubtful, loss) is assigned to each loan at the time of origination and monitored on a continuous basis with a formal assessment completed, at a minimum, quarterly. For C&I loans, the ACL is calculated using a PD/LGD modeled approach, or, in some cases based on a risk-adjusted discounted cash flow method or the fair value of the collateral. The ACL for C&I loans measured using a PD/LGD model is calculated based on the product of a cumulative PD and LGD, and the amortized cost basis determined for each loan over the remaining expected life of the loan, considering prepayments. PD estimates represent the point-in-time as of which the PD is developed for each C&I loan, updated quarterly based on the industry historical loss experience, financial performance and market value indicators, and current and forecasted relevant forward-looking macroeconomic variables over the expected life of the loans to determine a lifetime term structure PD curve. LGD estimates are determined based on historical charge-off events and recovery payments, industry historical loss experience, specific attributes of the loans, such as loan to value, as well as relevant current and forecasted macroeconomic variables expectations, such as, unemployment rates, interest rates, and market risk factors based on industry performance and equity market, to determine a lifetime term structure LGD curve. Under this approach, all future periods losses for each loan are calculated using the PD and LGD loss rates derived from the term structure curves applied to the amortized cost basis of the loans, considering prepayments. The Corporation determines the ACL for C&I loans that it has determined, based upon current information and events, that it is probable that the Corporation will be unable to collect all amounts due according to the contractual terms, and for any non-collateral dependent C&I loans that have been modified or are reasonably expected to be modified in a TDR, based on a risk-adjusted discounted cash flow methodology using PDs and LGDs developed as explained above. Under this approach, all future cash flows (interest and principal) for each loan are adjusted by the PDs and LGDs derived from the term structure curves and prepayments and then discounted at the effective interest rate as of the reporting date (original rate for TDRs) to arrive at the net present value of future cash flows and the ACL is calculated as the excess of the amortized cost basis over the present value of discounted cash flows. The ACL for collateral dependent C&I loans is determined based on the fair value of the collateral at the reporting date, adjusted for undiscounted selling costs as appropriate.

 

 

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Construction – As of March 31, 2020, construction loans consisted generally of loans secured by real estate made to finance the construction of industrial, commercial, or residential buildings and include loans to finance land development in preparation for erecting new structures. These loans involve an inherent higher level of risk and sensitivity to market conditions. Demand from prospective tenants or purchasers may erode after construction begins because of a general economic slowdown. For purposes of the ACL determination, the Corporation stratifies the construction loan portfolio by two main regions (i.e., Puerto Rico/Virgin Island region, and Florida region). An internal risk rating (i.e., pass, special mention, substandard, doubtful, loss) is assigned to each loan at the time of origination and monitored on a continuous basis with a formal assessment completed, at a minimum, on a quarterly basis. For construction loans, the ACL is calculated using a PD/LGD modeled approach, or individually for those loans that meet the definition of collateral dependent loans or loans that have been modified or are reasonably expected to be modified in a TDR. The ACL for construction loans measured using a PD/LGD model is calculated based on the product of a cumulative PD and LGD, and the amortized cost basis determined for each loan over the remaining expected life of the loan, considering prepayments. PD estimates represent the point-in-time as of which the PD is developed for each construction loan, updated quarterly based on, among other things, historical payment performance experience, industry historical loss experience, underlying type of collateral, and relevant current and forward-looking macroeconomic variables over the expected life of the loans to determine a lifetime term structure PD curve. LGD estimates are determined based on historical charge-off events and recovery payments, industry historical loss experience, specific attributes of the loans such as loan-to-value, debt service coverage ratios, and relevant current and forecasted macroeconomic variables expectations, such as unemployment rates, GDP, interest rates, and real estate price indexes, to determine a lifetime term structure LGD curve. Under this approach, all future periods losses for each instrument are calculated using the PDs and LGDs loss rates derived from the term structure curves applied to the amortized cost basis of the loans, considering prepayments. The ACL for collateral dependent loans, including loans modified or reasonably expected to be modified in a TDR, is determined based on the fair value of the collateral at the reporting date, adjusted for undiscounted selling costs as appropriate.

 

Consumer – As of March 31, 2020, consumer loans generally consisted of unsecured and secured loans extended to individuals for household, family, and other personal expenditures, including several classes of products. For purposes of the ACL determination, the Corporation stratifies the portfolio by two main regions (i.e., Puerto Rico/Virgin Islands region, and Florida region) and by the following five classes: (i) auto loans; (ii) finance leases; (iii) credit cards; (iv) personal loans; and (v) other consumer loans such as open-end home equity revolving lines of credit and other types of consumer credit lines, among others.

 

For auto loans and finance leases, the ACL is calculated using a PD/LGD modeled approach, or individually for loans modified or reasonably expected to be modified in a TDR and performing in accordance with restructured terms. The ACL for auto loans and finance leases measured using a PD/LGD model is calculated based on the product of a PD, LGD, and the amortized cost basis determined for each loan over the remaining expected life of the loan, considering prepayments. PD estimates represent the point-in-time as of which the PD is developed for each loan, updated quarterly based on, among other things, the historical payment performance and relevant current and forward-looking macroeconomic variables, such as regional unemployment rates, over the expected life of the loans to determine a lifetime term structure PD curve. LGD estimates are determined primarily based on historical charge-off events and recovery payments to determine a lifetime term structure LGD curve. Under this approach, all future periods’ losses for each loan are calculated using the PD and LGD loss rates derived from the term structure curves applied to the amortized cost basis of the loans, considering prepayments. For loans modified or reasonably expected to be modified in a TDR and performing in accordance with restructured terms, the Corporation determines the ACL based on a risk-adjusted discounted cash flow methodology using PDs and LGDs developed as explained above. Under this approach, all future cash flows (interest and principal) for each loan are adjusted by the PDs and LGDs derived from the term structure curves and prepayments and then discounted at the effective interest rate of the loan prior to the restructuring to arrive at the net present value of future cash flows and the ACL is calculated as the excess of the amortized cost basis over the present value of discounted cash flows for each loan.

 

For the credit card and personal loan portfolios, the ACL is determined on a pool basis based on a product of PDs and LGDs developed considering historical losses for each origination vintage by length of loan terms, by geography, and by credit score. The PD and LGD for each cohort consider key macroeconomic variables, such as regional GDP, unemployment rates, and retail sales, among others. Under this approach, all future period losses for each instrument are calculated using the PDs and LGDs applied to the amortized cost basis of the loans, considering prepayments.

 

In addition, home equity lines of credit that are 180 days or more past due are considered collateral dependent and are individually reviewed and charged-off, as needed, to the fair value of the collateral.

 

 

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For the ACL determination of all portfolios, the relevant macroeconomic variables expectations related to the Puerto Rico/Virgin Islands region consider an initial reasonable and supportable period of 2 years and a reversion period of up to 3 years, utilizing a straight-line approach and reverting back to the historical macroeconomic mean. For the Florida region, the methodology considers a reasonable and supportable forecast period and an implicit reversion towards the historical trend that varies for each macroeconomic variable, achieving the steady state by year 5. After the reversion period, a historical loss forecast period covering the remaining contractual life, adjusted for prepayments, is used based on the changes in key historical economic variables during representative historical expansionary and recessionary periods.

 

Refer to Note 8 - Allowance for Credit Losses for Loans and Finance Leases for additional information about reserve balances for each portfolio, activity during the period, and information about changes in circumstances that caused changes in the ACL for loans and finance leases during the first quarter of 2020.

Allowance for Credit Losses on Off-Balance Sheet Credit Exposures: The Corporation estimates expected credit losses over the contractual period in which the Corporation is exposed to credit risk via a contractual obligation to extend credit, unless the obligation is unconditionally cancellable by the Corporation. The ACL on off-balance sheet credit exposures is adjusted as a provision for credit loss expense. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated life. As of March 31, 2020, the off-balance sheet credit exposures primarily consisted of unfunded loans commitments and standby letters of credit for commercial and construction loans. The Corporation utilized the PDs and LGDs derived from the above-explained methodologies for the commercial and construction loan portfolios. Under this approach, all future period losses for each loan are calculated using the PD and LGD loss rates derived from the term structure curves applied to the usage given default exposure. The allowance for credit losses on off-balance sheet credit exposures is included as part of accounts payable and other liabilities in the consolidated statement of financial condition with adjustments included as part of the provision for credit loss expense in the consolidated statements of income.

 

Refer to Note 8 - Allowance for Credit Losses for Loans and Finance Leases for additional information about reserve balances for unfunded loan commitments, activity during the period, and information about changes in circumstances that caused changes in the ACL for loans and finance leases during the first quarter of 2020.

 

Allowance for Credit Losses on Other Assets Measured at Amortized Cost: The Corporation also estimates expected credit losses for certain accounts receivable, primarily claims from government-guaranteed insured loans, loan servicing-related receivables, and other receivables. The adoption of ASC 326 did not result in an adjustment to retained earnings at the time of adoption on January 1, 2020, and a material change was not reflected during the first quarter of 2020. The ACL on other assets measured at amortized cost is included as part of other assets in the consolidated statement of financial condition with adjustments included as part of other non-interest expenses in the consolidated statement of income.

 

 

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Subsequent Measurement of Goodwill

 

In January 2017, the FASB updated the Codification to simplify the subsequent measurement of goodwill by eliminating Step 2 from the two-step goodwill impairment test. Step 1 involves a comparison of the estimated fair value of the reporting unit to its carrying value, including goodwill. If the estimated fair value of a reporting unit exceeds its carrying value, goodwill is not considered impaired. If the carrying value exceeds the estimated fair value, there is an indication of potential impairment and a second step is required to measure the amount of the impairment. Step 2, when necessary, calculated an implied fair value of the goodwill impairment for each reporting unit for which Step 1 indicated a potential impairment. The 2017 guidance provides that a goodwill impairment test must be conducted by comparing the fair value of a reporting unit with its carrying amount. Entities must recognize an impairment charge for goodwill equal to the excess of the carrying amount over the reporting unit’s fair value. Entities have the option to perform a qualitative assessment for a reporting unit to determine if the quantitative impairment is necessary. This guidance took effect for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The adoption of this guidance during the first quarter of 2020 did not have an effect on the Corporation’s consolidated financial statements or results of operations. Subsequent effects will depend upon the performance of the reporting units that have goodwill, the market conditions affecting the fair value of each reporting unit going forward, and subsequent acquisitions.

 

Changes to the Disclosure Requirements for Fair Value Measurement

 

In August 2018, the FASB updated the Codification and amended ASC Topic 820, “Fair Value Measurement and Disclosures,” to add, remove, and modify fair value measurement disclosure requirements. The requirements that were removed for public entities include disclosure about: (i) transfers between Level 1 and Level 2 of the fair value hierarchy; (ii) the policy for determining when transfers between any of the three levels have occurred; and (iii) the valuation processes used for Level 3 measurements. The disclosure requirements that were modified for public entities include: (i) for certain investments in entities that calculate the net asset value, revisions to require disclosures about the timing of liquidation and lapses of redemption restrictions, if the latter has been communicated to the reporting entity; and (ii) revisions to clarify that the disclosure of Level 3 measurement uncertainty should communicate information about the uncertainty as of the balance sheet date. The additional or new disclosure requirements include: (i) the changes in unrealized gains and losses for the period must be included in OCI for recurring Level 3 instruments held as of the balance sheet date; and (ii) the range and weighted average of significant unobservable inputs used for Level 3 measurements must be disclosed, but an entity has the option to disclose other quantitative information in place of the weighted average to the extent that it would be a more reasonable and rational method to reflect the distribution of certain unobservable inputs.

 

This update took effect for all entities in fiscal years, including interim periods within those fiscal years, beginning after December 15, 2019. Immediate early adoption was permitted for any of the removed or modified disclosures even if adoption of the new disclosures was delayed until the effective date. In the third quarter of 2018, the Corporation early adopted the disclosure requirements that were removed or modified by this guidance. The adoption of additional or new disclosure requirements required by this guidance during the first quarter of 2020 did not affect the Corporation’s consolidated financial statements as the Corporation’s Level 3 instruments consisted primarily of available-for-sale private label MBS for which unrealized gains and losses are recognized in OCI and information about significant inputs for the fair value determination has been historically provided.

 

Collaborative Arrangements

 

In November 2018, the FASB issued new guidance to clarify the interaction between ASC Topic 808, “Collaborative Arrangements” (“ASC Topic 808”) and ASC Topic 606, “Revenue from Contracts with Customers” (“ASC Topic 606”). The guidance (i) clarifies that certain transactions between collaborative arrangement participants should be accounted for under the ASC Topic 606 guidance; (ii) adds unit of account guidance to ASC Topic 808 to align with ASC Topic 606; and (iii) clarifies presentation guidance for transactions with a collaborative arrangement participant that is not accounted for under ASC Topic 606. The guidance took effect for annual reporting periods beginning after December 1, 2019, including interim reporting periods within these annual reporting periods, with early adoption permitted. The adoption of this guidance during the first quarter of 2020 did not have an effect on the Corporation’s consolidated financial statements or results of operations.

 

 

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Recently Issued Accounting Standards Not Yet Effective or Not Yet Adopted

 

Income Taxes Simplification

 

In December 2019, the FASB issued new guidance to simplify the accounting for income taxes by removing certain exceptions to the general principles and the accounting related to areas such as franchise taxes, step-up in tax basis, goodwill, separate entity financial statements and interim recognition of enactment of tax laws or rate changes. For public business entities, the standard will be effective for annual reporting periods beginning after December 15, 2020, including interim reporting periods within those fiscal years. The Corporation is evaluating the impact of adopting this new accounting guidance, if any, on its consolidated financial statements.

 

Accounting for Equity Securities and Certain Derivatives

 

In January 2020, the FASB issued new guidance to clarify the accounting for equity securities under ASC Topic 321, “Investments – Equity Securities” (“ASC 321”); investments accounted for under the equity method of accounting in ASC Topic 323, “Investments – Equity Method and Joint Ventures”; and the accounting for certain forward contracts and purchased options accounted for under ASC Topic 815, “Derivatives and Hedging” (“ASC 815”). The guidance clarifies that an entity should consider observable transactions that result in either applying or discontinuing the equity method of accounting for the purpose of applying the measurement alternative provided by ASC 321 that allows certain equity securities without a readily determinable fair value to be measured at cost, less any impairment. When an entity accounts for an investment in equity securities under the measurement alternative and is required to transition to the equity method of accounting because of an observable transaction, it should remeasure the investment at fair value immediately before applying the equity method of accounting. Likewise, when an entity accounts for an investment in equity securities under the equity method of accounting and is required to transition to ASC 321 because of an observable transaction, it should remeasure the investment at fair value immediately after discontinuing the equity method of accounting. These amendments align the accounting for equity securities under the measurement alternative with that of other equity securities accounted for under ASC 321, reducing diversity in accounting outcomes. The guidance also clarifies that, when determining the accounting for nonderivative forward contracts and purchased options, an entity should not consider whether the underlying securities would be accounted for under the equity method or fair value option upon settlement or exercise. These instruments will not fail to meet the scope of ASC 815-10 solely because the securities would be accounted for under the equity method upon settlement of the contract or exercise of the option. For public business entities, the standard will be effective for annual reporting periods beginning after December 15, 2020, including interim reporting periods within those fiscal years. The adoption of this standard is not expected to have an effect on the Corporation’s consolidated financial statements.

 

Reference Rate Reform

 

In March 2020, the FASB issued new accounting guidance related to the effects of the reference rate reform on financial reporting. The guidance provides optional expedients and exceptions to applying GAAP to contract modifications that replace an interest rate impacted by reference rate reform (e.g., LIBOR) with a new alternative reference rate. The guidance is applicable to investment securities, receivables, loans, debt, leases, derivatives and hedge accounting elections and other contractual arrangements. The guidance may be adopted on any date on or after March 12, 2020. However, the relief is temporary and generally cannot be applied to contract modifications that occur after December 31, 2022 or hedging relationships entered into or evaluated after that date. As of the date hereof, the Corporation has not made any contract modification in connection with the reference rate reform.

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NOTE 2 – POTENTIAL ACQUISITION OF BANCO SANTANDER PUERTO RICO

 

On October 21, 2019, the Corporation announced the signing of a stock purchase agreement between FirstBank and Santander Holdings USA, Inc., pursuant to which FirstBank will acquire Santander Bancorp (“Santander BanCorp”), a wholly-owned subsidiary of Santander Holdings USA, Inc. and the holding company of Banco Santander Puerto Rico (“BSPR”). The purchase price is based on a formula set forth in the stock purchase agreement and is subject to adjustment based on Santander BanCorp's consolidated balance sheet as of the closing date of the acquisition (the “Closing”). The purchase price formula consists of the following: (i) a base purchase price equal to 117.5% of Santander BanCorp's core tangible common equity; (ii) a fixed $65 million premium on core tangible common equity; and (iii) an adjustment equal to 100% of the deemed excess capital of Santander BanCorp at Closing. The transaction is structured as an all-cash acquisition of all of the issued and outstanding common stock of Santander Bancorp, the sole shareholder of BSPR, a corporation incorporated under the laws of the Commonwealth of Puerto Rico and sole shareholder of Santander Insurance Agency, Inc. (Santander Bancorp is referred to together with BSPR collectively as the “Acquired Companies”). Immediately following the Closing, Santander Bancorp (a direct wholly-owned subsidiary of FirstBank following the Closing) will merge with and into FirstBank (the “HoldCo Merger”), with FirstBank surviving the HoldCo Merger (the “Surviving Bank”). Immediately following the effectiveness of the HoldCo Merger, BSPR (a direct wholly-owned subsidiary of the Surviving Bank following the effectiveness of the HoldCo Merger) will merge with and into FirstBank, with FirstBank as the surviving entity in the merger.

 

Prior to the Closing, Santander Holdings USA, Inc., has agreed to sell or otherwise transfer to Santander Holdings USA, Inc., any of its affiliates or any other third party (other than any Acquired Company) (i) all non-performing assets (along with all collateral and rights to collection related thereto) of BSPR (the “Non-Performing Assets Transfer”), and (ii) Santander Asset Management, LLC, a limited liability company organized under the laws of the Commonwealth of Puerto Rico and a direct wholly-owned subsidiary of Santander Bancorp (the “Reorganization”). The Closing is conditioned on, among other things, consummation of the Non-Performing Assets Transfer, the Reorganization, and receipt of all required regulatory approvals.

 

Since the third quarter of 2019, the Corporation has incurred in merger and restructuring costs totaling $12.2 million in connection with the pending acquisition of BSPR, including $0.8 million recorded during the first quarter of 2020, which are presented as Merger and Restructuring costs in the accompanying consolidated statements of income for the first quarter of 2020. Merger and restructuring costs primarily have included advisory, legal, valuation, and other professional service fees, as well as charges related to a voluntary separation program (the “VSP”) offered to eligible employees at FirstBank in connection with initiatives to capitalize on expected operational efficiencies from the acquisition.

 

The transaction has been unanimously approved by both companies’ boards of directors. With respect to the Corporation’s announced transaction to acquire BSPR, the Corporation continues to work with the applicable regulators in their review of the transaction. Taking into account the impact of the COVID-19 pandemic, the Corporation now believes it is unlikely that all regulatory approvals necessary to close the transaction will be received by the middle of 2020 as previously expected. The Corporation continues to cooperate with its regulators and to provide additional requested information as part of the application process. There can be no assurance that the regulatory approvals will not contain a condition or requirement that results in a failure to satisfy the conditions to closing set forth in the stock purchase agreement.

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NOTE 3 – EARNINGS PER COMMON SHARE

 

	The calculation of earnings per common share for the quarters ended March 31, 2020 and 2019 are as follows:
		Quarter Ended
		March 31,			March 31,
		2020			2019
(In thousands, except per share information)
Net income		$	2,266		$	43,314
Less: Preferred stock dividends			(669)			(669)
Net income attributable to common stockholders		$	1,597		$	42,645
Weighted-Average Shares:
	Average common shares outstanding		216,785			216,338
	Average potential dilutive common shares		529			612
	Average common shares outstanding-assuming dilution		217,314			216,950
Earnings per common share:
	Basic	$	0.01		$	0.20
	Diluted	$	0.01		$	0.20

 

Earnings per common share is computed by dividing net income attributable to common stockholders by the weighted-average number of common shares issued and outstanding. Net income attributable to common stockholders represents net income adjusted for any preferred stock dividends, including any dividends declared but not yet paid, and any cumulative dividends related to the current dividend period that have not been declared as of the end of the period. Basic weighted-average common shares outstanding exclude unvested shares of restricted stock that do not contain non-forfeitable dividend rights.

 

Potential dilutive common shares consist of unvested shares of restricted stock that do not contain non-forfeitable dividend rights using the treasury stock method. This method assumes that the potential dilutive common shares are issued and outstanding and the proceeds from the exercise, in addition to the amount of compensation cost attributable to future services, are used to purchase common stock at the exercise date. The difference between the numbers of potential dilutive shares issued and the shares purchased is added as incremental shares to the actual number of shares outstanding to compute diluted earnings per share. Unvested shares of restricted stock outstanding during the period that result in lower potential dilutive shares issued than shares purchased under the treasury stock method are not included in the computation of dilutive earnings per share since their inclusion would have an antidilutive effect on earnings per share. Potential dilutive common shares also include performance units that do not contain non-forfeitable dividend rights if the performance condition is met as of the end of the reporting period.

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NOTE 4 – STOCK-BASED COMPENSATION

 

On May 24, 2016, the Corporation’s stockholders approved the amendment and restatement of the First BanCorp. Omnibus Incentive Plan, as amended (the “Omnibus Plan”), to, among other things, increase the number of shares of common stock reserved for issuance under the Omnibus Plan, extend the term of the Omnibus Plan to May 24, 2026 and re-approve the material terms of the performance goals under the Omnibus Plan for purposes of the then-effective Section 162(m) of the U.S. Internal Revenue Code of 1986, as amended. The Omnibus Plan provides for equity-based compensation incentives (the “awards”) through the grant of stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, cash-based awards and other stock-based awards. The Omnibus Plan authorizes the issuance of up to 14,169,807 shares of common stock, subject to adjustments for stock splits, reorganizations and other similar events. As of March 31, 2020, 5,745,970 authorized shares of common stock were available for issuance under the Omnibus Plan. The Corporation’s Board of Directors, based on the recommendation of the Corporation’s Compensation and Benefits Committee, has the power and authority to determine those eligible to receive awards and to establish the terms and conditions of any awards, subject to various limits and vesting restrictions that apply to individual and aggregate awards.

 

Restricted Stock

 

Under the Omnibus Plan, the Corporation may grant restricted stock to plan participants, subject to forfeiture upon the occurrence of certain events until the dates specified in the participant’s award agreement. While the restricted stock is subject to forfeiture and does not contain non-forfeitable dividend rights, participants may exercise full voting rights with respect to the shares of restricted stock granted to them. The restricted stock granted under the Omnibus Plan is typically subject to a vesting period. During the first quarter of 2020, the Corporation awarded 851,673 shares of restricted stock to employees; fifty percent (50%) of those shares vest on the two-year anniversary of the grant date and the remaining 50% vest on the three-year anniversary of the grant date. Included in those 851,673 shares of restricted stock were 47,194 shares granted to retirement-eligible employees. The total expense determined for the restricted stock awarded to retirement-eligible employees was charged against earnings. During the first quarter 2019, the Corporation awarded to its independent directors 3,745 shares of restricted stock that were subject to one-year vesting periods. In addition, during the first quarter of 2019, the Corporation awarded 261,871 shares of restricted stock to employees; fifty percent (50%) of those shares vest on the two-year anniversary of the grant date and the remaining 50% vest on the three-year anniversary of the grant date. Included in those 261,871 shares of restricted stock were 13,308 shares granted to retirement-eligible employees. The fair value of the shares of restricted stock granted in the first quarter of 2020 was based on the market price of the Corporation’s outstanding common stock on the date of the respective grant.

 

 

	The following table summarizes the restricted stock activity in the first quarter of 2020 under the Omnibus Plan:
		Quarter Ended
		March 31, 2020
		Number of
		shares of			Weighted-Average
		restricted			Grant Date
		stock			Fair Value
Unvested shares outstanding at beginning of period		644,805		$	8.51
Granted		851,673			4.08
Vested		(184,370)			6.51
Unvested shares outstanding at March 31, 2020		1,312,108		$	5.91

 

For the quarters ended March 31, 2020 and 2019, the Corporation recognized $0.8 million and $0.9 million, respectively, of stock-based compensation expense related to restricted stock awards. As of March 31, 2020, there was $5.2 million of total unrecognized compensation cost related to unvested shares of restricted stock. The weighted average period over which the Corporation expects to recognize such cost was 2.0 years as of March 31, 2020.

 

Stock-based compensation accounting guidance requires the Corporation to reverse compensation expense for any awards that are forfeited due to employee or director turnover. Quarterly changes in the estimated forfeiture rate may have a significant effect on stock-based compensation, as the Corporation recognized the effect of adjusting the rate for all expense amortization in the period in which the forfeiture estimate is changed. If the actual forfeiture rate is higher than the estimated forfeiture rate, an adjustment is made to increase the estimated forfeiture rate, which will result in a decrease in the expense recognized in the financial statements. If the actual forfeiture rate is lower than the estimated forfeiture rate, an adjustment is made to decrease the estimated forfeiture rate, which will result in an increase in the expense recognized in the financial statements.

 

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Performance Units

 

Under the Omnibus Plan, the Corporation may award performance units to Omnibus Plan participants. During the first quarter of 2020, the Corporation granted 502,307 units to executives, with each unit representing the value of one share of the Corporation’s common stock. The performance units granted in 2020 are for the performance period beginning January 1, 2020 and ending on December 31, 2022 and are subject to three-year requisite service periods. These awards do not contain non-forfeitable rights to dividend equivalent amounts and can only be settled in shares of the Corporation’s common stock. The performance units will vest based on the achievement of a pre-established tangible book value per share target as of December 31, 2022. All of the performance units will vest if performance is at the pre-established performance target level or above. However, the participants may vest with respect to 50% of the awards to the extent that performance is below the target but at 80% of the pre-established performance target level (the “80% minimum threshold”), which is measured based upon the growth in the tangible book value during the performance cycle. If performance is between the 80% minimum threshold and the pre-established performance target level, the participants will vest on a proportional amount. No performance units will vest if performance is below the 80% minimum threshold.

 

During the first quarter of 2019, the Corporation awarded 200,053 performance units to executives. The performance units granted in 2019 are for the performance period beginning January 1, 2019 and ending on December 31, 2021 and are subject to three-year requisite service periods and a pre-established performance target level as describe above.

 

The fair values of the performance units awarded in the first quarter of 2020 and 2019 were based on the market price of the Corporation’s outstanding common stock on the respective date of the grant. For the quarters ended March 31, 2020 and 2019, the Corporation recognized $0.3 million and $0.1 million, respectively, of stock-based compensation expense related to performance units. As of March 31, 2020, there was $4.1 million of total unrecognized compensation cost related to unvested performance units that the Corporation expects to recognize over the next three years. The total amount of compensation expense recognized reflects management’s assessment of the probability that the pre-established performance goal will be achieved. The Corporation will recognize a cumulative adjustment to compensation expense in the then-current period to reflect any changes in the probability of achievement of the performance goals.

 

Shares withheld

 

During the quarter ended March 31, 2020, the Corporation withheld 50,285 shares (first quarter of 2019 –168,679 shares) of the restricted stock that vested during such period to cover the officers’ payroll and income tax withholding liabilities; these shares are held as treasury shares. The Corporation paid in cash any fractional share of salary stock to which an officer was entitled. In the consolidated financial statements, the Corporation treats shares withheld for tax purposes as common stock repurchases.

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NOTE 5 – INVESTMENT SECURITIES

 

Investment Securities Available for Sale

 

The amortized cost, gross unrealized gains and losses recorded in OCI, allowance for credit losses, estimated fair value, and weighted-average yield of investment securities available for sale by contractual maturities as of March 31, 2020 were as follows:

 

		March 31, 2020
		Amortized cost			Gross							Allowance		Fair value
					Unrealized							for Credit					Weighted-
					gains			losses				Losses					average yield %
(Dollars in thousands)
U.S. Treasury securities:
Due within one year		$	7,483		$	99		$	-		$	-		$	7,582		1.65
U.S. government-sponsored
agencies' obligations:
Due within one year			90,002			510			-			-			90,512		1.56
After 1 to 5 years			118,454			1,488			-			-			119,942		2.04
After 5 to 10 years			112,477			978			12			-			113,443		2.06
After 10 years			23,306			2			64			-			23,244		0.65
Puerto Rico government
obligations:
After 5 to 10 years			4,000			361			-			-			4,361		5.12
After 10 years (1)			4,113			-			1,144			-			2,969		6.97
United States and Puerto
Rico government
obligations			359,835			3,438			1,220			-			362,053		1.92
MBS:
Freddie Mac ("FHLMC") certificates:
	Due within one year		100			8			-			-			108		4.87
After 5 to 10 years			76,460			2,426			-			-			78,886		2.15
After 10 years			295,944			10,832			2			-			306,774		2.49
			372,504			13,266			2			-			385,768		2.42
Ginnie Mae ("GNMA") certificates:
After 1 to 5 years			5,808			141			-			-			5,949		3.23
After 5 to 10 years			37,206			970			-			-			38,176		2.74
After 10 years			303,796			15,120			2			-			318,914		3.12
			346,810			16,231			2			-			363,039		3.08
Fannie Mae ("FNMA") certificates:
After 1 to 5 years			19,773			750			-			-			20,523		2.79
After 5 to 10 years			133,479			5,218			-			-			138,697		2.14
After 10 years			540,107			23,238			-			-			563,345		2.61
			693,359			29,206			-			-			722,565		2.52
Collateralized mortgage obligations issued
or guaranteed by the FHLMC, FNMA
and GNMA
After 1 to 5 years			606			-			3			-			603		1.66
After 10 years			86,706			1,290			646			-			87,350		2.50
			87,312			1,290			649			-			87,953		2.49
Private label
After 10 years			15,357			-			4,689			368			10,300		3.45
Total MBS			1,515,342			59,993			5,342			368			1,569,625		2.63
Other
After 1 to 5 years			500			-			-			-			500		2.95
Total investment securities
available for sale		$	1,875,677		$	63,431		$	6,562		$	368		$	1,932,178		2.50
__________

(1) Consist of a residential pass-through MBS issued by the PRHFA that is collateralized by certain second mortgages originated under a program launched by the Puerto Rico government in 2010.

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The amortized cost, gross unrealized gains and losses recorded in OCI, estimated fair value, and weighted-average yield of investment securities available for sale by contractual maturities as of December 31, 2019 were as follows:

		December 31, 2019
		Amortized cost			Gross						Fair value
					Unrealized									Weighted-
					gains			losses						average yield%
(Dollars in thousands)
U.S. Treasury securities:
	After 1 to 5 years	$	7,478		$	1		$	-		$	7,479		1.65
U.S. government-sponsored
agencies' obligations:
	Due within one year		93,299			103			106			93,296		1.67
	After 1 to 5 years		142,513			676			52			143,137		2.12
	After 5 to 10 years		63,764			165			150			63,779		2.33
	After 10 years		24,624			-			116			24,508		2.00
Puerto Rico government
obligations:
	After 5 to 10 years		4,000			348			-			4,348		5.12
	After 10 years (1)		4,166			-			1,192			2,974		6.97
United States and Puerto
Rico government
obligations			339,844			1,293			1,616			339,521		2.11
MBS:
FHLMC certificates:
	After 5 to 10 years		81,418			589			228			81,779		2.16
	After 10 years		424,316			3,873			758			427,431		2.50
			505,734			4,462			986			509,210		2.44
GNMA certificates:
	After 1 to 5 years		4,357			45			-			4,402		3.26
	After 5 to 10 years		42,303			607			-			42,910		2.77
	After 10 years		258,944			7,126			500			265,570		3.03
			305,604			7,778			500			312,882		3.00
FNMA certificates:
	After 1 to 5 years		19,779			415			3			20,191		2.79
	After 5 to 10 years		140,599			1,257			641			141,215		2.14
	After 10 years		700,213			9,006			1,208			708,011		2.58
			860,591			10,678			1,852			869,417		2.51
Collateralized mortgage obligations issued
	or guaranteed by the FHLMC,
	FNMA and GNMA:
	After 1 to 5 years		608			-			1			607		2.43
	After 10 years		80,130			362			220			80,272		2.76
			80,738			362			221			80,879		2.75
Private label
	After 10 years		15,997			-			4,881			11,116		3.90
Total MBS			1,768,664			23,280			8,440			1,783,504		2.60
Other
	After 1 to 5 years		500			-			-			500		2.95
Total investment securities
	available for sale	$	2,109,008		$	24,573		$	10,056		$	2,123,525		2.52

(1) Consist of a residential pass-through MBS issued by the PRHFA that is collateralized by certain second mortgages originated under a program launched by the Puerto Rico government in 2010.

 

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Maturities of MBS are based on the period of final contractual maturity. Expected maturities of investments might differ from contractual maturities because they may be subject to prepayments and/or call options. The weighted-average yield on investment securities available for sale is based on amortized cost and, therefore, does not give effect to changes in fair value. The net unrealized gain or loss on securities available for sale are presented as part of OCI.

 

The following tables show the Corporation’s available-for-sale investments’ fair value and gross unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, as of March 31, 2020 and December 31, 2019. The tables also include debt securities for which an ACL was recorded as of March 31, 2020 or a credit loss was charged against the amortized cost basis of the debt security prior to the adoption of ASC 326 on January 1, 2020.

 

	As of March 31, 2020
	Less than 12 months						12 months or more						Total
				Unrealized						Unrealized						Unrealized
	Fair Value			Losses			Fair Value			Losses			Fair Value			Losses
(In thousands)
Debt securities:
Puerto Rico-government obligations	$	-		$	-		$	2,969		$	1,144		$	2,969		$	1,144
U.S. Treasury and U.S. government
agenciesʼ obligations		3,213			1			22,280			75			25,493			76
MBS:
FHLMC		-			-			728			2			728			2
GNMA		-			-			609			2			609			2
Collateralized mortgage obligations
issued or guaranteed by
the FHLMC, FNMA and GNMA		40,571			649			-			-			40,571			649
Private label MBS		-			-			10,300			4,689			10,300			4,689
	$	43,784		$	650		$	36,886		$	5,912		$	80,670		$	6,562
	As of December 31, 2019
	Less than 12 months						12 months or more						Total
				Unrealized						Unrealized						Unrealized
	Fair Value			Losses			Fair Value			Losses			Fair Value			Losses
(In thousands)
Debt securities:
Puerto Rico-government obligations	$	-		$	-		$	2,974		$	1,192		$	2,974		$	1,192
U.S. Treasury and U.S. government
agenciesʼ obligations		45,073			172			99,764			252			144,837			424
MBS:
FNMA		58,668			499			173,708			1,353			232,376			1,852
FHLMC		74,134			270			63,864			716			137,998			986
GNMA		79,145			472			7,203			28			86,348			500
Collateralized mortgage
obligations issued or guaranteed
by the FHLMC, FNMA and GNMA		21,873			221			-			-			21,873			221
Private label MBS		-			-			11,116			4,881			11,116			4,881
	$	278,893		$	1,634		$	358,629		$	8,422		$	637,522		$	10,056

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During the first quarter of 2020, the Corporation sold approximately $275.6 million of U.S. agencies MBS and recognized a gain of approximately $8.2 million. These sales have settlement dates in April, thus, as of March 31, 2020, the decrease in the investment securities portfolio was offset by a corresponding increase in accounts receivable on unsettled investment sales included as part of other assets in the consolidated statements of financial condition.

 

Assessment for Credit Losses

 

Debt securities issued by U.S. government agencies, U.S. GSEs, and the U.S. Treasury, including notes and MBS, accounted for approximately 99% of the total available-for-sale portfolio as of March 31, 2020, and no credit losses are expected, given the explicit and implicit guarantees provided by the U.S. federal government. Because the decline in fair value is attributable to changes in interest rates, and not credit quality, and because the Corporation does not have the intent to sell these U.S. agencies debt securities and it is likely that it will not be required to sell the securities before their anticipated recovery, the Corporation does not consider impairments on these securities to be credit related as of March 31, 2020. The Corporation’s credit losses assessment was concentrated mainly on private label MBS, and on Puerto Rico government debt securities, for which credit losses are evaluated on a quarterly basis. The Corporation considered the following factors in determining whether a credit loss exists and the period over which the debt security is expected to recover:

 

 Any adverse change to the credit conditions and liquidity of the issuer, taking into consideration the latest information available about the financial condition of the issuer, credit ratings, the failure of the issuer to make scheduled principal or interest payments, recent legislation and government actions affecting the issuer’s industry; and actions taken by the issuer to deal with the present economic climate;

 Changes in the near-term prospects of the underlying collateral for a security, if any, such as changes in default rates, loss severity given default, and significant changes in prepayment assumptions; and

 The level of cash flows generated from the underlying collateral, if any, supporting the principal and interest payments of the debt securities.

 

The Corporation’s available-for-sale MBS portfolio includes private label MBS with a fair value of $10.3 million, which had unrealized losses of approximately $4.7 million at March 31, 2020. The interest rate on these private-label MBS is variable, tied to 3-month LIBOR and limited to the weighted-average coupon on the underlying collateral. The underlying collateral are fixed-rate, single-family residential mortgage loans in the United State with original FICO scores over 700 and moderate loan-to-value ratios (under 80%), as well as moderate delinquency levels. The Corporation does not have the intent to sell these securities and it is likely that it will not be required to sell the securities before anticipated recovery. The Corporation determine the ACL for private label MBS based on a risk-adjusted discounted cash flow methodology that considers the structure and terms of the instruments. The Corporation utilizes PDs and LGDs that consider, among other things, historical payment performance, loan-to value attributes and relevant current and forward-looking macroeconomic variables, such as regional unemployment rates and the housing price index. On this approach, all future cash flows (interest and principal) from the underlying collateral loans, adjusted by prepayments and the PDs and LGDs derived from the above-described methodology are discounted at the effective interest rate as of the reporting date. Significant assumptions in the valuation of the private label MBS were as follows:

 

	As of					As of
	March 31, 2020					December 31, 2019
	Weighted		Range			Weighted		Range
	Average		Minimum	Maximum		Average		Minimum	Maximum
Discount rate	12.7%		12.7%	12.7%		13.7%		13.7%	13.7%
Prepayment rate	7.9%		6.8%	10.3%		7.9%		6.8%	10.3%
Projected Cumulative Loss Rate	8.9%		2.6%	20.7%		2.8%		0.0%	7.4%

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The Corporation evaluates if a credit loss exists, primarily by monitoring adverse variances in the present value of expected cash flows. During the first quarter of 2020, the Corporation established a $0.4 million ACL for these private label MBS, based on a decline in the present value of expected cash flows taking into consideration the effect of the deteriorating forecasted economic conditions due to the COVID-19 pandemic.

 

As of March 31, 2020, the Corporation’s available-for-sale investment securities portfolio also included bonds of the PRHFA with a fair value of $7.3 million, which had unrealized net losses of approximately $0.8 million. These bonds include a residential pass-through MBS issued by the PRHFA that is collateralized by certain second mortgages with a fair value of $3.0 million which had an unrealized loss of $1.1 million as of March 31, 2020. The underlying second mortgage loans were originated under a program launched by the Puerto Rico government in 2010. This residential pass-through MBS was structured as a zero-coupon bond for the first ten years (up to July 2019). The underlying source of payment of this residential pass-through MBS is second mortgage loans in Puerto Rico. PRHFA not the Puerto Rico government, provides a guarantee in the event of default and subsequent foreclosure of the second mortgage loans underlying properties. Based on the quarterly analysis performed, management concluded that the impairment on this residential pass-through MBS as of March 31, 2020 was not credit related based primarily on payment performance history and the insurance protection provided by the PRHFA to the underlying collateral. In the event that the second mortgage loans default and the collateral is insufficient to satisfy the outstanding balance of this residential pass-through MBS, PRHFA’s ability to honor its insurance will depend on, among other factors, the financial condition of PRHFA at the time such obligation become due and payable. A deterioration of the Puerto Rico economy or fiscal health of the PRHFA could further impact the value of these securities, resulting in losses to the Corporation. The Corporation does not have the intent to sell this security and it is likely that it will not be required to sell the security before its anticipated recovery.

 

The following table presents a rollforward by major security type for the quarter ended March 31, 2020 of the ACL on debt securities available-for-sale at period end:

 

 

	Private label
	MBS
(In thousands)
Beginning Balance	$	-
Impact of adopting ASC 326		-
Addition for securities for which previous expected credit losses were recognized (provision for credit losses)		368
	$	368

No credit losses on available-for-sale debt securities were recorded in the first quarter of 2019.

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Investments Held to Maturity

 

The amortized cost, gross unrecognized gains and losses, estimated fair value, allowance for credit losses, weighted-average yield and contractual maturities of investment securities held to maturity as of March 31, 2020 and December 31, 2019 were as follows:

 

		March 31, 2020
		Amortized cost									Fair value
					Gross Unrecognized									Allowance for Credit Losses
																	Weighted - average yield %
(Dollars in thousands)					gains			losses
Puerto Rico Municipal Bonds:
	Due within one year	$	321		$	-		$	3		$	318		$	99		5.65
	After 1 to 5 years		8,122			-			675			7,447			78		4.99
	After 5 to 10 years		56,511			-			8,118			48,393			2,999		5.42
	After 10 years		73,580			-			18,576			55,004			6,092		5.25
Total investment securities
	held to maturity	$	138,534		$	-		$	27,372		$	111,162		$	9,268		5.31

 

		December 31, 2019
		Amortized cost										Fair value
						Gross Unrecognized
															Weighted - average yield %
(Dollars in thousands)						gains			losses
Puerto Rico Municipal Bonds:
	Due within one year	$	321			$	-		$	6		$	315		5.84
	After 1 to 5 years		8,264				-			736			7,528		5.18
	After 5 to 10 years		56,511				-			8,646			47,865		5.77
	After 10 years		73,579				-			18,913			54,666		5.44
Total investment securities
	held to maturity	$	138,675			$	-		$	28,301		$	110,374		5.56

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The following tables show the Corporation’s held-to-maturity investments’ fair value and gross unrecognized losses, aggregated by investment category and length of time that individual securities had been in a continuous unrecognized loss position, as of March 31, 2020 and December 31, 2019, including debt securities for which an ACL was recorded as of March 31, 2020.

	As of March 31, 2020
	Less than 12 months						12 months or more						Total
				Unrecognized						Unrecognized						Unrecognized
	Fair Value			Losses			Fair Value			Losses			Fair Value			Losses
		(In thousands)
Debt securities:
Puerto Rico Municipal Bonds	$	-		$	-		$	111,162		$	27,372		$	111,162		$	27,372
	As of December 31, 2019
	Less than 12 months						12 months or more						Total
				Unrecognized						Unrecognized						Unrecognized
	Fair Value			Losses			Fair Value			Losses			Fair Value			Losses
		(In thousands)
Debt securities:
Puerto Rico Municipal Bonds	$	-		$	-		$	110,374		$	28,301		$	110,374		$	28,301

 

The Corporation determines the ACL of Puerto Rico Municipal Bonds based on the product of a cumulative PD and LGD, and the amortized cost basis of the bonds over their remaining expected life as described in Note 1 – Basis of Presentation and Significant Accounting Policies above.

 

The Corporation performs periodic credit quality reviews on these issuers. All of the Puerto Rico Municipal Bonds were current as to scheduled contractual payments as of March 31, 2020. The Puerto Rico municipal bonds had an allowance for credit losses of $9.3 million as of March 31, 2020, of which $1.1 million was recorded as a provision for credit losses in the first quarter of 2020. The increase in the ACL during the first quarter of 2020 primarily reflects the effect of the deteriorating economic outlook due to the COVID-19 pandemic on the macroeconomic variables used for the determination of the PD and LGD used in the model.

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The following table presents the activity in the ACL for debt securities held-to-maturity by major security type for the quarter ended March 31, 2020:

 

	Puerto Rico
	Municipal Bonds
(In thousands)
Beginning Balance	$	-
Impact of adopting ASC 326		8,134
Addition for securities for which no previous expected
credit losses were recognized (provision for credit losses)		1,134
	$	9,268

 

During the second quarter of 2019, the oversight board established by PROMESA announced the designation of Puerto Rico’s 78 municipalities as covered instrumentalities under PROMESA. Meanwhile, the latest fiscal plan certified by the PROMESA oversight board did not contemplate a restructuring of the debt of Puerto Rico’s municipalities, but the plan did call for the gradual elimination of budgetary subsidies provided to municipalities by the central government. Furthermore, municipalities are also likely to be affected by the negative economic and other effects resulting from expense, revenue or cash management measures taken by the Puerto Rico government to address its fiscal problems, or measures included in fiscal plans of other government entities, such as the fiscal plans of the Government Development Bank for Puerto Rico (“GDB”) and the Puerto Rico Electric Power Authority (“PREPA”), and, more recently, by the effect of the COVID-19 pandemic on the Puerto Rico and global economy. Given the uncertain effect that the negative fiscal situation of the Puerto Rico central government, the COVID-19 pandemic, and the measures taken, or to be taken, by other government entities in response to the COVID-19 pandemic may have on municipalities, the Corporation cannot be certain whether future charges to the ACL on these securities will be required.

 

From time to time, the Corporation has securities held to maturity with an original maturity of three months or less that are considered cash and cash equivalents and are classified as money market investments in the consolidated statements of financial condition. As of March 31, 2020 and December 31, 2019, the Corporation had no outstanding securities held to maturity that were classified as cash and cash equivalents.

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Credit Quality Indicators:

 

As mentioned in Note 1 – Basis of Presentation and Significant Accounting Policies above, the held-to-maturity investment securities portfolio consisted of financing arrangements with Puerto Rico municipalities issued in bond form, which are accounted for as securities, but are underwritten as loans with features that are typically found in commercial loans. Accordingly, the Corporation monitors the credit quality of Puerto Rico municipal bonds held-to-maturity through the use of internal credit-risk ratings, generally updated on a quarterly basis. The Corporation considers a debt security held-to-maturity as a criticized asset if its risk rating is Special Mention, Substandard, Doubtful or Loss. Puerto Rico municipal bonds that do not meet the criteria for classification as criticized assets are considered to be pass-rated securities. The assets categories are defined below:

 

Pass – Assets classified as pass have a well-defined primary source of repayment, with no apparent risk, strong financial position, minimal operating risk, profitability, liquidity and strong capitalization.

 

Special Mention – A Special Mention asset has potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the Corporation’s credit position at some future date. Special Mention assets are not adversely classified and do not expose the Corporation to sufficient risk to warrant adverse classification.

 

Substandard – A Substandard asset is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Assets so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.

 

Doubtful – Doubtful classifications have all of the weaknesses inherent in those classified Substandard with the added characteristic that the weaknesses make collection or liquidation in full highly questionable and improbable, on the basis of currently known facts, conditions and values. A Doubtful classification may be appropriate in cases where significant risk exposures are perceived, but loss cannot be determined because of specific reasonable pending factors, which may strengthen the credit in the near term.

 

Loss – Assets classified Loss are considered uncollectible and of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the asset has absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off this asset even though partial recovery may occur in the future. There is little or no prospect for near term improvement and no realistic strengthening action of significance pending.

 

The Corporation periodically reviews its asset classifications to evaluate if they are properly classified, and to determine impairment, if any. The frequency of these reviews will depend on the amount of the aggregate outstanding debt, and the risk rating classification of the obligor.

 

 

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The Corporation has a Loan Review Group that reports directly to the Corporation’s Risk Management Committee and administratively to the Chief Risk Officer, which performs annual comprehensive credit process reviews of the Bank’s commercial loan portfolios, including the above-mentioned Puerto Rico municipal bonds accounted for as held-to-maturity securities. This group evaluates the credit risk profile of portfolios, including the assessment of the risk rating representative of the current credit quality of the assets, and the evaluation of collateral documentation, if applicable. The monitoring performed by this group contributes to the assessment of compliance with credit policies and underwriting standards, the determination of the current level of credit risk, the evaluation of the effectiveness of the credit management process and the identification of any deficiency that may arise in the credit-granting process. Based on its findings, the Loan Review Group recommends corrective actions, if necessary, that help in maintaining a sound credit process. The Loan Review Group reports the results of the credit process reviews to the Risk Management Committee of the Corporation’s Board of Directors.

 

The following table summarizes the amortized cost of debt securities held-to-maturity as of March 31, 2020 and December 31, 2019 aggregated by credit quality indicator:

 

		Held to Maturity
		Puerto Rico Municipal Bonds
		March 31,			December 31
(In thousands)		2020			2019
Risk Ratings:
Pass		$	138,534		$	138,675
Criticized:
Special Mention			-			-
Substandard			-			-
Doubtful			-			-
Loss			-			-
Total		$	138,534		$	138,675

 

No held-to-maturity debt securities were on nonaccrual status, 90 days past due and still accruing, or past due as of March 31, 2020 and December 31, 2019. A security is considered to be past due once it is 30 days contractually past due under the terms of the agreement.

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NOTE 6 – EQUITY SECURITIES

 

Institutions that are members of the FHLB system are required to maintain a minimum investment in FHLB stock. Such minimum investment is calculated as a percentage of aggregate outstanding mortgages, and the FHLB requires an additional investment that is calculated as a percentage of total FHLB advances, letters of credit, and the collateralized portion of outstanding interest-rate swaps. The stock is capital stock issued at $100 par value. Both stock and cash dividends may be received on FHLB stock.

 

As of March 31, 2020 and December 31, 2019, the Corporation had investments in FHLB stock carried at a cost of $33.8 million and $34.1 million, respectively. Dividend income from FHLB stock for the quarters ended March 31, 2020 and 2019 was $0.6 million and $0.7 million, respectively.

 

The FHLB of New York issued the shares of FHLB stock owned by the Corporation. The FHLB of New York is part of the Federal Home Loan Bank System, a national wholesale banking network of 11 regional, stockholder-owned congressionally chartered banks. The FHLBs are all privately capitalized and operated by their member stockholders. The system is supervised by the Federal Housing Finance Agency, which ensures that the FHLBs operate in a financially safe and sound manner, remain adequately capitalized and able to raise funds in the capital markets, and carry out their housing finance mission.

 

As of March 31, 2020 and December 31, 2019, the Corporation owned other equity securities with a readily determinable fair value of approximately $1.5 million and $1.4 million, respectively. During the first quarter of 2020, the Corporation recognized a marked-to-market gain of $27 thousand associated with these securities ($5 thousand marked-to-market gain in the first quarter of 2019) recorded as part of other non-interest income in the consolidated statements of income. In addition, the Corporation had other equity securities that do not have a readily-determinable fair value. The carrying value of such securities as of March 31, 2020 and December 31, 2019 was $4.3 million and $2.8 million, respectively.

 

NOTE 7 – LOANS HELD FOR INVESTMENT

 

The following provides information about the loan portfolio held for investment as of the indicated dates:

 

		As of March 31,			As of December 31,
		2020			2019
(In thousands)
Residential mortgage loans, mainly secured by first mortgages		$	2,875,672		$	2,933,773
Construction loans			159,675			111,317
Commercial mortgage loans			1,454,753			1,444,586
Commercial and Industrial loans (1)			2,236,218			2,230,876
Consumer loans			2,312,629			2,281,653
Loans held for investment			9,038,947			9,002,205
Allowance for credit losses on loans and finance leases			(292,774)			(155,139)
Loans held for investment, net		$	8,746,173		$	8,847,066

(1)As of March 31, 2020 and December 31, 2019, includes $712.6 million and $719.0 million, respectively, of commercial loans that were secured by real estate but are not dependent upon the real estate for repayment.

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The following tables present by portfolio classes the amortized cost basis of loans on nonaccrual status and loans 90 days or more still accruing as of March 31, 2020 and December 31, 2019 and the interest income recognized on nonaccrual loans for the quarter ended March 31, 2020:
		As of March 31, 2020															As of December 31, 2019
Puerto Rico and Virgin Islands region		Nonaccrual Loans with No ACL			Nonaccrual Loans with ACL			Total Nonaccrual Loans			Loans Past Due 90 days or more and Still Accruing			Interest Income Recognized on Nonaccrual Loans			Total Nonaccrual Loans			Loans Past Due 90 days or more and Still Accruing
(In thousands)
Residential mortgage loans, mainly secured
by first mortgages:
	FHA\VA government-guaranteed	$	-		$	-		$	-		$	77,637		$	-		$	-		$	81,011
	Conventional residential mortgage loans		34,603			74,117			108,720			37,968			294			108,117			40,208
Construction loans			6,991			2,672			9,663			29			20			9,782			-
Commercial mortgage loans			12,687			23,266			35,953			4,072			74			40,076			2,222
Commercial and Industrial loans			5,979			13,463			19,442			6,510			32			18,458			7,061
Consumer Loans:
Auto loans			37			14,764			14,801			-			50			12,057			-
Finance leases			-			1,925			1,925			-			11			1,354			-
Personal loans			-			1,498			1,498			-			19			1,523			-
Credit cards			-			-			-			4,513			-			-			4,411
Other consumer loans			1,032			3,931			4,963			-			5			5,016			-
Total loans held for investment (1) (2) (3)		$	61,329		$	135,636		$	196,965		$	130,729		$	505		$	196,383		$	134,913

(1)Nonaccrual loans exclude $391.9 million and $388.4 million of TDR loans that were in compliance with modified terms and in accrual status as of March 31, 2020 and December 31, 2019, respectively.

(2)Excludes PCD loans previously accounted for under ASC 310-30 for which the Corporation made the accounting policy election to maintain pools of loans accounted for under ASC 310-30 as “units of account” both at the time of adoption of ASC 326 and on an ongoing basis for credit loss measurement. These loans will accrete interest income based on the effective interest rate of the loan pools determined at the time of adoption of ASC 326 and will continue to be excluded from nonaccrual loan statistics as long as the Corporation can reasonably estimate the timing and amount of cash flows expected to be collected on the loan pools. The amortized cost of such loans as of March 31, 2020 and December 31, 2019 amounted to $134.0 million and $136.7 million, respectively.

(3)Includes 90-day past due and still accruing PCD loans previously accounted for under ASC 310-30 for which the Corporation made the accounting policy election to maintain pools of such loans both at the time of adoption of ASC 326 and on an ongoing basis for credit loss measurement. The amortized cost of 90 days past due and still accruing PCD loans as of March 31, 2020 and December 31, 2019 amounted to $25.4 million and $27.0 million, respectively.

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		As of March 31, 2020															As of December 31, 2019
Florida region		Nonaccrual Loans with No ACL			Nonaccrual Loans with ACL			Total Nonaccrual Loans			Loans Past Due 90 days or more and Still Accruing			Interest Income Recognized on Nonaccrual Loans			Total Nonaccrual Loans			Loans Past Due 90 days or more and Still Accruing
(In thousands)
Residential mortgage loans, mainly secured
by first mortgages:
	FHA\VA government-guaranteed	$	-		$	-		$	-		$	129		$	-		$	-		$	129
	Conventional residential mortgage loans		196			13,987			14,183			-			83			13,291			-
Construction loans			-			-			-			-			-			-			-
Commercial mortgage loans			-			-			-			583			-			-			-
Commercial and Industrial loans			292			-			292			-			19			315			-
Consumer Loans:
Auto loans			-			126			126			-			2			163			-
Finance leases			-			-			-			-			-			-			-
Personal loans			-			254			254			-			2			5			-
Credit cards			-			-			-			-			-			-			-
Other consumer loans			475			-			475			-			4			511			-
Total loans held for investment (1)		$	963		$	14,367		$	15,330		$	712		$	110		$	14,285		$	129

(1)Nonaccrual loans exclude $9.7 million and $9.9 million of TDR loans that were in compliance with modified terms and in accrual status as of March 31, 2020 and December 31, 2019, respectively.

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		As of March 31, 2020															As of December 31, 2019
Total		Nonaccrual Loans with No ACL			Nonaccrual Loans with ACL			Total Nonaccrual Loans			Loans Past Due 90 days or more and Still Accruing			Interest Income Recognized on Nonaccrual Loans			Total Nonaccrual Loans			Loans Past Due 90 days or more and Still Accruing
(In thousands)
Residential mortgage loans, mainly secured
by first mortgages:
	FHA\VA government-guaranteed	$	-		$	-		$	-		$	77,766		$	-		$	-		$	81,140
	Conventional residential mortgage loans		34,799			88,104			122,903			37,968			377			121,408			40,208
Construction loans			6,991			2,672			9,663			29			20			9,782			-
Commercial mortgage loans			12,687			23,266			35,953			4,655			74			40,076			2,222
Commercial and Industrial loans			6,271			13,463			19,734			6,510			51			18,773			7,061
Consumer Loans:
Auto loans			37			14,890			14,927			-			52			12,220			-
Finance leases			-			1,925			1,925			-			11			1,354			-
Personal loans			-			1,752			1,752			-			21			1,528			-
Credit cards			-			-			-			4,513			-			-			4,411
Other consumer loans			1,507			3,931			5,438			-			9			5,527			-
Total loans held for investment (1) (2) (3)		$	62,292		$	150,003		$	212,295		$	131,441		$	615		$	210,668		$	135,042

(1)Nonaccrual loans exclude $401.6 million and $398.3 million of TDR loans that were in compliance with modified terms and in accrual status as of March 31, 2020 and December 31, 2019, respectively.

(2)Excludes PCD loans previously accounted for under ASC 310-30 for which the Corporation made the accounting policy election to maintain pools of loans accounted for under ASC 310-30 as “units of account” both at the time of adoption of ASC 326 and on an ongoing basis for credit loss measurement. These loans will accrete interest income based on the effective interest rate of the loan pools determined at the time of adoption of ASC 326 and will continue to be excluded from nonaccrual loan statistics as long as the Corporation can reasonably estimate the timing and amount of cash flows expected to be collected on the loan pools. The amortized cost of such loans as of March 31, 2020 and December 31, 2019 amounted to $134.0 million and $136.7 million, respectively.

(3)Includes 90-day past due and still accruing PCD loans previously accounted for under ASC 310-30 for which the Corporation made the accounting policy election to maintain pools of such loans both at the time of adoption of ASC 326 and on an ongoing basis for credit loss measurement. The amortized cost of 90 days past due and still accruing PCD loans as of March 31, 2020 and December 31, 2019 amounted to $25.4 million and $27.0 million, respectively.

 

 

As of March 31, 2020, the recorded investment on residential mortgage loans collateralized by residential real estate property that were in the process of foreclosure amounted to $159.3 million, including $38.1 million of loans insured by the FHA or guaranteed by the VA, and $19.5 million of PCD loans acquired prior to the adoption, on January 1, 2020, of ASC 326 and for which the Corporation made the accounting policy election of maintaining pools of loans previously accounted for under ASC 310-30 as “units of account.” The Corporation commences the foreclosure process on residential real estate loans when a borrower becomes 120 days delinquent in accordance with the requirements of the Consumer Financial Protection Bureau (“CFPB”). Foreclosure procedures and timelines vary depending on whether the property is located in a judicial or non-judicial state. Judicial states (i.e., Puerto Rico, Florida and the USVI) require the foreclosure to be processed through the state’s court while foreclosure in non-judicial states (i.e., the BVI) is processed without court intervention. Foreclosure timelines vary according to local jurisdiction law and investor guidelines. Occasionally, foreclosures may be delayed due to, among other reasons, mandatory mediations, bankruptcy, court delays and title issues.

 

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The Corporation’s aging of the loan portfolio held for investment by portfolio classes as of March 31, 2020 is as follows:
As of March 31, 2020
Puerto Rico and Virgin Islands region		30-59 Days Past Due			60-89 Days Past Due			90 days or more Past Due (1) (2)			Total Past Due			Current			Total loans held for investment
(In thousands)
Residential mortgage loans, mainly secured by first mortgages:
FHA/VA government-guaranteed loans (2) (3) (4)		$	-		$	1,956		$	77,637		$	79,593		$	37,734		$	117,327
Conventional residential mortgage loans (2) (4) (5)			-			38,129			146,688			184,817			2,016,028			2,200,845
Commercial loans:
Construction loans (4)			-			81			9,692			9,773			48,740			58,513
Commercial mortgage loans (4) (6)			311			348			40,025			40,684			1,038,705			1,079,389
Commercial and Industrial loans			1,714			333			25,952			27,999			1,343,429			1,371,428
Consumer loans:
Auto loans			23,870			2,193			14,801			40,864			1,095,410			1,136,274
Finance leases			4,418			567			1,925			6,910			422,236			429,146
Personal loans			3,980			771			1,498			6,249			266,647			272,896
Credit cards			2,019			2,358			4,513			8,890			275,184			284,074
Other consumer loans			3,903			1,395			4,963			10,261			143,753			154,014
Total loans held for investment		$	40,215		$	48,131		$	327,694		$	416,040		$	6,687,866		$	7,103,906

(1) Includes nonaccrual loans and accruing loans that were contractually delinquent 90 days or more (i.e., FHA/VA guaranteed loans and credit cards). Credit card loans continue to accrue finance charges and fees until charged-off at 180 days.

(2)It is the Corporation's policy to report delinquent residential mortgage loans insured by the FHA, guaranteed by the VA, and other government-insured loans as past-due loans 90 days and still accruing as opposed to nonaccrual loans since the principal repayment is insured. The Corporation continues accruing interest on these loans until they have passed the 15 months delinquency mark, taking into consideration the FHA interest curtailment process. These balances include $34.6 million of residential mortgage loans insured by the FHA that were over 15 months delinquent.

(3)As of March 31, 2020, includes $35.0 million of defaulted loans collateralizing GNMA securities for which the Corporation has an unconditional option (but not an obligation) to repurchase the defaulted loans.

(4)According to the Corporation's delinquency policy and consistent with the instructions for the preparation of the Consolidated Financial Statements for Bank Holding Companies (FR Y-9C) required by the Federal Reserve Board, residential mortgage, commercial mortgage, and construction loans are considered past due when the borrower is in arrears on two or more monthly payments. FHA/VA government-guaranteed loans, conventional residential mortgage loans, commercial mortgage loans, and construction loans past due 30-59 days as of March 31, 2020 amounted to $7.7 million, $86.8 million, $4.2 million, and $0.1 million, respectively.

(5)Includes residential mortgage loans, previously accounted for under ASC 310-30, for which the Corporation made the accounting policy election to maintain pools of loans as “units of account” both at the time of adoption of ASC 326 and on an ongoing basis for credit loss measurement, with individual delinquencies as follow: current – $104.2 million, 60-89 days past due – $3.5 million, and 90 days or more past due – $23.8 million.

(6)Includes commercial mortgage loans, previously accounted for under ASC 310-30, for which the Corporation made the accounting policy election to maintain pools of loans as “units of account” both at the time of adoption of ASC 326 and on an ongoing basis for credit loss measurement, with individual delinquencies as follow: current – $0.9 million, and 90 days or more past due – $1.6 million.

 

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As of March 31, 2020
Florida region		30-59 Days Past Due			60-89 Days Past Due			90 days or more Past Due (1) (2)			Total Past Due			Current			Total loans held for investment
(In thousands)
Residential mortgage loans, mainly secured by first mortgages:
FHA/VA government-guaranteed loans (2) (3)		$	-		$	-		$	129		$	129		$	1,059		$	1,188
Conventional residential mortgage loans (3)			-			1,918			14,183			16,101			540,211			556,312
Commercial loans:
Construction loans			-			-			-			-			101,162			101,162
Commercial mortgage loans (3)			23			-			583			606			374,758			375,364
Commercial and Industrial loans			2,633			212			292			3,137			861,653			864,790
Consumer loans:
Auto loans			1,021			237			126			1,384			25,394			26,778
Finance leases			-			-			-			-			-			-
Personal loans			-			-			254			254			171			425
Credit cards			-			-			-			-			-			-
Other consumer loans			26			152			475			653			8,369			9,022
Total loans held for investment		$	3,703		$	2,519		$	16,042		$	22,264		$	1,912,777		$	1,935,041

(1)Includes nonaccrual loans and accruing loans that were contractually delinquent 90 days or more (i.e., FHA/VA guaranteed loans).

(2)It is the Corporation's policy to report delinquent residential mortgage loans insured by the FHA, guaranteed by the VA, and other government-insured loans as past-due loans 90 days and still accruing as opposed to nonaccrual loans since the principal repayment is insured. The Corporation continues accruing interest on these loans until they have passed the 15 months delinquency mark, taking into consideration the FHA interest curtailment process. No residential mortgage loans insured by the FHA in the Florida region were over 15 months delinquent as of March 31, 2020.

(3)According to the Corporation's delinquency policy and consistent with the instructions for the preparation of the Consolidated Financial Statements for Bank Holding Companies (FR Y-9C) required by the Federal Reserve Board, residential mortgage, commercial mortgage, and construction loans are considered past due when the borrower is in arrears on two or more monthly payments. FHA/VA government-guaranteed loans, conventional residential mortgage loans, and commercial mortgage loans past due 30-59 days as of March 31, 2020 amounted to $0.1 million, $12.2 million, and $0.3 million, respectively.

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As of March 31, 2020
Total		30-59 Days Past Due			60-89 Days Past Due			90 days or more Past Due (1) (2)			Total Past Due			Current			Total loans held for investment
(In thousands)
Residential mortgage loans, mainly secured by first mortgages:
FHA/VA government-guaranteed loans (2) (3) (4)		$	-		$	1,956		$	77,766		$	79,722		$	38,793		$	118,515
Conventional residential mortgage loans (2) (4) (5)			-			40,047			160,871			200,918			2,556,239			2,757,157
Commercial loans:
Construction loans (4)			-			81			9,692			9,773			149,902			159,675
Commercial mortgage loans (4) (6)			334			348			40,608			41,290			1,413,463			1,454,753
Commercial and Industrial loans			4,347			545			26,244			31,136			2,205,082			2,236,218
Consumer loans:
Auto loans			24,891			2,430			14,927			42,248			1,120,804			1,163,052
Finance leases			4,418			567			1,925			6,910			422,236			429,146
Personal loans			3,980			771			1,752			6,503			266,818			273,321
Credit cards			2,019			2,358			4,513			8,890			275,184			284,074
Other consumer loans			3,929			1,547			5,438			10,914			152,122			163,036
Total loans held for investment		$	43,918		$	50,650		$	343,736		$	438,304		$	8,600,643		$	9,038,947

(1)Includes nonaccrual loans and accruing loans that were contractually delinquent 90 days or more (i.e., FHA/VA guaranteed loans and credit cards). Credit card loans continue to accrue finance charges and fees until charged-off at 180 days.

(2)It is the Corporation's policy to report delinquent residential mortgage loans insured by the FHA, guaranteed by the VA, and other government-insured loans as past-due loans 90 days and still accruing as opposed to nonaccrual loans since the principal repayment is insured. The Corporation continues accruing interest on these loans until they have passed the 15 months delinquency mark, taking into consideration the FHA interest curtailment process. These balances include $34.6 million of residential mortgage loans insured by the FHA that were over 15 months delinquent.

(3)As of March 31, 2020, includes $35.0 million of defaulted loans collateralizing GNMA securities for which the Corporation has an unconditional option (but not an obligation) to repurchase the defaulted loans.

(4)According to the Corporation's delinquency policy and consistent with the instructions for the preparation of the Consolidated Financial Statements for Bank Holding Companies (FR Y-9C) required by the Federal Reserve Board, residential mortgage, commercial mortgage, and construction loans are considered past due when the borrower is in arrears on two or more monthly payments. FHA/VA government-guaranteed loans, conventional residential mortgage loans, commercial mortgage loans, and construction loans past due 30-59 days as of March 31, 2020 amounted to $7.8 million, $99.0 million, $4.5 million, and $0.1 million, respectively.

(5)Includes residential mortgage loans, previously accounted for under ASC 310-30, for which the Corporation made the accounting policy election to maintain pools of loans as “units of account” both at the time of adoption of ASC 326 and on an ongoing basis for credit loss measurement, with individual delinquencies as follow: current – $104.2 million, 60-89 days past due – $3.5 million, and 90 days or more past due – $23.8 million.

(6)Includes commercial mortgage loans, previously accounted for under ASC 310-30, for which the Corporation made the accounting policy election to maintain pools of loans as “units of account” both at the time of adoption of ASC 326 and on an ongoing basis for credit loss measurement, with individual delinquencies as follow: current – $0.9 million, and 90 days or more past due – $1.6 million.

 

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The Corporation’s aging of the loan portfolio held for investment by portfolio classes as of December 31, 2019 is as follows:
As of December 31, 2019
Puerto Rico and Virgin Islands region		30-59 Days Past Due			60-89 Days Past Due			90 days or more Past Due (1) (2)			Total Past Due			Current			Total loans held for investment
(In thousands)
Residential mortgage loans, mainly secured by first mortgages:
FHA/VA government-guaranteed loans (2) (3) (4)		$	-		$	2,068		$	81,011		$	83,079		$	39,350		$	122,429
Conventional residential mortgage loans (2) (4) (5)			-			83,308			148,325			231,633			2,013,525			2,245,158
Commercial loans:
Construction loans (4)			-			105			9,782			9,887			38,359			48,246
Commercial mortgage loans (4) (6)			-			2,681			42,298			44,979			1,034,921			1,079,900
Commercial and Industrial loans			1,454			105			25,519			27,078			1,364,335			1,391,413
Consumer loans:
Auto loans			35,163			8,267			12,057			55,487			1,048,873			1,104,360
Finance leases			6,501			1,402			1,354			9,257			405,275			414,532
Personal loans			4,008			2,084			1,523			7,615			266,478			274,093
Credit cards			2,896			2,096			4,411			9,403			282,887			292,290
Other consumer loans			3,870			1,575			5,016			10,461			145,395			155,856
Total loans held for investment		$	53,892		$	103,691		$	331,296		$	488,879		$	6,639,398		$	7,128,277

(1)Includes nonaccrual loans and accruing loans that were contractually delinquent 90 days or more (i.e., FHA/VA guaranteed loans and credit cards). Credit card loans continue to accrue finance charges and fees until charged-off at 180 days.

(2)It is the Corporation's policy to report delinquent residential mortgage loans insured by the FHA, guaranteed by the VA, and other government-insured loans as past-due loans 90 days and still accruing as opposed to nonaccrual loans since the principal repayment is insured. The Corporation continues accruing interest on these loans until they have passed the 15 months delinquency mark, taking into consideration the FHA interest curtailment process. These balances include $37.9 million of residential mortgage loans insured by the FHA that were over 15 months delinquent.

(3)As of December 31, 2019, includes $35.6 million of defaulted loans collateralizing GNMA securities for which the Corporation has an unconditional option (but not an obligation) to repurchase the defaulted loans.

(4)According to the Corporation's delinquency policy and consistent with the instructions for the preparation of the Consolidated Financial Statements for Bank Holding Companies (FR Y-9C) required by the Federal Reserve Board, residential mortgage, commercial mortgage, and construction loans are considered past due when the borrower is in arrears on two or more monthly payments. FHA/VA government-guaranteed loans, conventional residential mortgage loans, commercial mortgage loans, and construction loans past due 30-59 days as of December 31, 2019 amounted to $6.7 million, $110.5 million, $6.0 million, and $0.1 million respectively.

(5)Amount includes PCD residential mortgage loans with individual delinquencies as follow: current – $101.2 million, 60-89 days past due – $7.5 million, and 90 days or more past due – $25.0 million.

(6)Amount includes PCD commercial mortgage loans with individual delinquencies as follow: current – $0.9 million, and 90 days or more past due – $2.0 million.

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As of December 31, 2019
Florida region		30-59 Days Past Due			60-89 Days Past Due			90 days or more Past Due (1) (2)			Total Past Due			Current			Total loans held for investment
(In thousands)
Residential mortgage loans, mainly secured by first mortgages:
FHA/VA government-guaranteed loans (2) (3)		$	-		$	-		$	129		$	129		$	1,351		$	1,480
Conventional residential mortgage loans (2) (3)			-			2,193			13,291			15,484			549,222			564,706
Commercial loans:
Construction loans			-			-			-			-			63,071			63,071
Commercial mortgage loans (3)			-			870			-			870			363,816			364,686
Commercial and Industrial loans			331			-			315			646			838,817			839,463
Consumer loans:
Auto loans			1,270			272			163			1,705			28,790			30,495
Finance leases			-			-			-			-			-			-
Personal loans			-			-			5			5			777			782
Credit cards			-			-			-			-			-			-
Other consumer loans			147			2			511			660			8,585			9,245
Total loans held for investment		$	1,748		$	3,337		$	14,414		$	19,499		$	1,854,429		$	1,873,928

(1) Includes nonaccrual loans and accruing loans that were contractually delinquent 90 days or more (i.e., FHA/VA guaranteed loans and credit cards).

(2)It is the Corporation's policy to report delinquent residential mortgage loans insured by the FHA, guaranteed by the VA, and other government-insured loans as past-due loans 90 days and still accruing as opposed to nonaccrual loans since the principal repayment is insured. The Corporation continues accruing interest on these loans until they have passed the 15 months delinquency mark, taking into consideration the FHA interest curtailment process. No residential mortgage loans insured by the FHA in the Florida region were over 15 months delinquent.

(3)According to the Corporation's delinquency policy and consistent with the instructions for the preparation of the Consolidated Financial Statements for Bank Holding Companies (FR Y-9C) required by the Federal Reserve Board, residential mortgage, commercial mortgage, and construction loans are considered past due when the borrower is in arrears on two or more monthly payments. FHA/VA government-guaranteed loans, conventional residential mortgage loans, and commercial mortgage loans past due 30-59 days as of December 31, 2019 amounted to $0.4 million, $5.8 million, and $0.6 million respectively.

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As of December 31, 2019
Total		30-59 Days Past Due			60-89 Days Past Due			90 days or more Past Due (1) (2)			Total Past Due			Current			Total loans held for investment
(In thousands)
Residential mortgage loans, mainly secured by first mortgages:
FHA/VA government-guaranteed loans (2) (3) (4)		$	-		$	2,068		$	81,140		$	83,208		$	40,701		$	123,909
Conventional residential mortgage loans (2) (4) (5)			-			85,501			161,616			247,117			2,562,747			2,809,864
Commercial loans:
Construction loans (4)			-			105			9,782			9,887			101,430			111,317
Commercial mortgage loans (4) (6)			-			3,551			42,298			45,849			1,398,737			1,444,586
Commercial and Industrial loans			1,785			105			25,834			27,724			2,203,152			2,230,876
Consumer loans:
Auto loans			36,433			8,539			12,220			57,192			1,077,663			1,134,855
Finance leases			6,501			1,402			1,354			9,257			405,275			414,532
Personal loans			4,008			2,084			1,528			7,620			267,255			274,875
Credit cards			2,896			2,096			4,411			9,403			282,887			292,290
Other consumer loans			4,017			1,577			5,527			11,121			153,980			165,101
Total loans held for investment		$	55,640		$	107,028		$	345,710		$	508,378		$	8,493,827		$	9,002,205

(1)Includes nonaccrual loans and accruing loans that were contractually delinquent 90 days or more (i.e., FHA/VA guaranteed loans and credit cards). Credit card loans continue to accrue finance charges and fees until charged-off at 180 days.

(2)It is the Corporation's policy to report delinquent residential mortgage loans insured by the FHA, guaranteed by the VA, and other government-insured loans as past-due loans 90 days and still accruing as opposed to nonaccrual loans since the principal repayment is insured. The Corporation continues accruing interest on these loans until they have passed the 15 months delinquency mark, taking into consideration the FHA interest curtailment process. These balances include $37.9 million of residential mortgage loans insured by the FHA that were over 15 months delinquent.

(3)As of December 31, 2019, includes $35.6 million of defaulted loans collateralizing GNMA securities for which the Corporation has an unconditional option (but not an obligation) to repurchase the defaulted loans.

(4)According to the Corporation's delinquency policy and consistent with the instructions for the preparation of the Consolidated Financial Statements for Bank Holding Companies (FR Y-9C) required by the Federal Reserve Board, residential mortgage, commercial mortgage, and construction loans are considered past due when the borrower is in arrears on two or more monthly payments. FHA/VA government-guaranteed loans, other residential mortgage loans, commercial mortgage loans, and construction loans past due 30-59 days as of December 31, 2019 amounted to $7.1 million, $116.2 million, $6.6 million, and $0.1 million respectively.

(5)Amount includes PCD residential mortgage loans with individual delinquencies as follow: current – $101.2 million, 60-89 days past due –$7.5 million, and 90 days or more past due – $25.0 million.

(6)Amount includes PCD commercial mortgage loans with individual delinquencies as follow: current –$0.9 million, and 90 days or more past due – $2.0 million.

47

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Credit Quality Indicators:

 

The Corporation categorized loans into risk categories based on relevant information about the ability of the borrower to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Corporation analyzes non-homogeneous loans, such as commercial mortgage, commercial and industrial, and construction loans individually to classify the loans’ credit risk. As mentioned above, the Corporation periodically reviews its commercial and construction loan classifications to evaluate if they are properly classified. The frequency of these reviews will depend on the amount of the aggregate outstanding debt, and the risk rating classification of the obligor. In addition, during the renewal and annual review process of applicable credit facilities, the Corporation evaluates the corresponding loan grades. The Corporation uses the same definition for risk ratings as those described for Puerto Rico municipal bonds accounted for as held-to-maturity securities, as discussed in Note 5 – Investment Securities above.

 

For residential mortgage and consumer loans, the Corporation also evaluates credit quality based on credit scores and loan-to-value ratios, if applicable.

 

Based on the most recent analysis performed, the amortized cost of commercial and construction loans by portfolio classes and by origination year based on the internal credit-risk category as of March 13, 2020 and the amortized cost of commercial and construction loans by portfolio classes based on the internal credit-risk category as of December 31, 2019 was as follows:

 

		As of March 31, 2020
Puerto Rico and Virgin Islands Region		Term Loans																								As of December 31, 2019
		Amortized Cost Basis by Origination Year
(In thousands)		2020			2019			2018			2017			2016			Prior			Revolving Loans Amortized Cost Basis			Total			Total
CONSTRUCTION
Risk Ratings:
Pass		$	5,033		$	13,945		$	3,170		$	14,629		$	5,329		$	3,992		$	-		$	46,098		$	35,680
Criticized:
Special Mention			-			-			-			-			-			-			-			-			-
Substandard			-			886			1,858			-			5,150			4,521			-			12,415			12,566
Doubtful			-			-			-			-			-			-			-			-			-
Loss			-			-			-			-			-			-			-			-			-
Total construction loans		$	5,033		$	14,831		$	5,028		$	14,629		$	10,479		$	8,513		$	-		$	58,513		$	48,246
COMMERCIAL MORTGAGE
Risk Ratings:
Pass		$	86,063		$	295,273		$	175,341		$	42,555		$	73,336		$	260,877		$	13		$	933,458		$	891,298
Criticized:
Special Mention			284			-			-			79,998			-			11,205			-			91,487			13,080
Substandard			-			-			-			-			2,337			52,107			-			54,444			175,522
Doubtful			-			-			-			-			-			-			-			-			-
Loss			-			-			-			-			-			-			-			-			-
Total commercial mortgage loans		$	86,347		$	295,273		$	175,341		$	122,553		$	75,673		$	324,189		$	13		$	1,079,389		$	1,079,900
COMMERCIAL AND INDUSTRIAL
Risk Ratings:
Pass		$	10,811		$	225,388		$	146,464		$	138,815		$	55,130		$	304,636		$	423,165		$	1,304,409		$	1,321,804
Criticized:
Special Mention			-			-			573			933			82			9,175			8,485			19,248			39,327
Substandard			-			96			2,491			98			1,197			38,136			5,753			47,771			27,265
Doubtful			-			-			-			-			-			-			-			-			2,768
Loss			-			-			-			-			-			-			-			-			249
Total commercial and industrial loans		$	10,811		$	225,484		$	149,528		$	139,846		$	56,409		$	351,947		$	437,403		$	1,371,428		$	1,391,413

48

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								As of March 31, 2020
								Term Loans																		As of December 31, 2019
Florida Region								Amortized Cost Basis by Origination Year
(In thousands)		2020			2019			2018			2017			2016			Prior			Revolving Loans Amortized Cost Basis			Total			Total
CONSTRUCTION
Risk Ratings:
Pass		$	30,335		$	9,744		$	39,703		$	17,064		$	-		$	-		$	4,316		$	101,162		$	63,071
Criticized:
Special Mention			-			-			-			-			-			-			-			-			-
Substandard			-			-			-			-			-			-			-			-			-
Doubtful			-			-			-			-			-			-			-			-			-
Loss			-			-			-			-			-			-			-			-			-
Total construction loans		$	30,335		$	9,744		$	39,703		$	17,064		$	-		$	-		$	4,316		$	101,162		$	63,071
COMMERCIAL MORTGAGE
Risk Ratings:
Pass		$	1,314		$	82,887		$	36,929		$	46,347		$	52,333		$	90,578		$	64,661		$	375,049		$	364,370
Criticized:
Special Mention			-			-			-			-			-			-			-			-			-
Substandard			-			-			-			-			-			315			-			315			316
Doubtful			-			-			-			-			-			-			-			-			-
Loss			-			-			-			-			-			-			-			-			-
Total commercial mortgage loans		$	1,314		$	82,887		$	36,929		$	46,347		$	52,333		$	90,893		$	64,661		$	375,364		$	364,686
COMMERCIAL AND INDUSTRIAL
Risk Ratings:
Pass		$	34,894		$	244,020		$	152,326		$	164,636		$	21,747		$	65,450		$	179,979		$	863,052		$	837,697
Criticized:
Special Mention			-			-			-			-			-			-			-			-			1,766
Substandard			-			-			-			-			-			1,738			-			1,738			-
Doubtful			-			-			-			-			-			-			-			-			-
Loss			-			-			-			-			-			-			-			-			-
Total commercial and industrial loans		$	34,894		$	244,020		$	152,326		$	164,636		$	21,747		$	67,188		$	179,979		$	864,790		$	839,463

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		As of March 31, 2020
Total		Term Loans																								As of December 31, 2019
		Amortized Cost Basis by Origination Year
(In thousands)		2020			2019			2018			2017			2016			Prior			Revolving Loans Amortized Cost Basis			Total			Total
CONSTRUCTION
Risk Ratings:
Pass		$	35,368		$	23,689		$	42,873		$	31,693		$	5,329		$	3,992		$	4,316		$	147,260		$	98,751
Criticized:
Special Mention			-			-			-			-			-			-			-			-			-
Substandard			-			886			1,858			-			5,150			4,521			-			12,415			12,566
Doubtful			-			-			-			-			-			-			-			-			-
Loss			-			-			-			-			-			-			-			-			-
Total construction loans		$	35,368		$	24,575		$	44,731		$	31,693		$	10,479		$	8,513		$	4,316		$	159,675		$	111,317
COMMERCIAL MORTGAGE
Risk Ratings:
Pass		$	87,377		$	378,159		$	212,270		$	88,902		$	125,669		$	351,455		$	64,674		$	1,308,506		$	1,255,668
Criticized:
Special Mention			284			-			-			79,999			-			11,205			-			91,488			13,080
Substandard			-			-			-			-			2,337			52,422			-			54,759			175,838
Doubtful			-			-			-			-			-			-			-			-			-
Loss			-			-			-			-			-			-			-			-			-
Total commercial mortgage loans		$	87,661		$	378,159		$	212,270		$	168,901		$	128,006		$	415,082		$	64,674		$	1,454,753		$	1,444,586
COMMERCIAL AND INDUSTRIAL
Risk Ratings:
Pass		$	45,706		$	469,408		$	298,790		$	303,451		$	76,877		$	370,085		$	603,144		$	2,167,461		$	2,159,501
Criticized:
Special Mention			-			-			573			933			82			9,175			8,485			19,248			39,327
Substandard			-			96			2,491			98			1,197			39,874			5,753			49,509			29,031
Doubtful			-			-			-			-			-			-			-			-			2,768
Loss			-			-			-			-			-			-			-			-			249
Total commercial and industrial loans		$	45,706		$	469,504		$	301,854		$	304,482		$	78,156		$	419,134		$	617,382		$	2,236,218		$	2,230,876

50

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The following table presents the amortized cost in residential mortgage loans by origination year based on original loan-to-value-ratio (LTV) and original credit scores as of March 31, 2020 and the amortized cost in residential mortgage loans by original LTV and original credit scores as of December 31, 2019:

 

		As of March 31, 2020																								As of December 31, 2019
		Term Loans
RESIDENTIAL MORTGAGES		Amortized Cost Basis by Origination Year
(In thousands)		2020			2019			2018			2017			2016			Prior			Revolving Loans Amortized Cost Basis			Total			Total
Puerto Rico and Virgin Islands region:
FHA/VA government-guaranteed loans		$	-		$	356		$	2,130		$	2,770		$	5,739		$	106,332		$	-		$	117,327		$	122,429
Conventional residential mortgage loans:
Original LTV
Less than or equal to 90 percent			10,306			63,081			98,430			64,562			85,527			1,331,475			-			1,653,381			1,684,340
Greater than 90 percent but less than
or equal to 100 percent			163			1,567			5,073			2,414			11,432			429,446			-			450,095			460,879
Greater than 100 percent			-			926			5,497			3,138			7,323			80,485			-			97,369			99,939
Total residential mortgages in
Puerto Rico and Virgin Islands region		$	10,469		$	65,930		$	111,130		$	72,884		$	110,021		$	1,947,738		$	-		$	2,318,172		$	2,367,587
Florida region:
FHA/VA government-guaranteed loans		$	-		$	-		$	-		$	290		$	-		$	898		$	-		$	1,188		$	1,480
Conventional residential mortgage loans:
Original LTV
Less than or equal to 90 percent			8,591			56,229			69,912			97,647			89,226			219,892			-			541,497			549,850
Greater than 90 percent but less than
or equal to 100 percent			180			2,047			3,298			5,334			2,540			1,357			-			14,756			14,796
Greater than 100 percent			-			-			-			-			-			59			-			59			60
Total residential mortgages in Florida region		$	8,771		$	58,276		$	73,210		$	103,271		$	91,766		$	222,206		$	-		$	557,500		$	566,186
Total:
FHA/VA government-guaranteed loans		$	-		$	356		$	2,130		$	3,060		$	5,739		$	107,230		$	-		$	118,515		$	123,909
Conventional residential mortgage loans:
Original LTV
Less than or equal to 90 percent			18,897			119,310			168,342			162,209			174,753			1,551,367			-			2,194,878			2,234,190
Greater than 90 percent but less than
or equal to 100 percent			343			3,614			8,371			7,748			13,972			430,803			-			464,851			475,675
Greater than 100 percent			-			926			5,497			3,138			7,323			80,544			-			97,428			99,999
Total residential mortgages		$	19,240		$	124,206		$	184,340		$	176,155		$	201,787		$	2,169,944		$	-		$	2,875,672		$	2,933,773

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		As of March 31, 2020																								As of December 31, 2019
		Term Loans
RESIDENTIAL MORTGAGES		Amortized Cost Basis by Origination Year
(In thousands)		2020			2019			2018			2017			2016			Prior			Revolving Loans Amortized Cost Basis			Total			Total
Puerto Rico and Virgin Islands region:
FHA/VA government-guaranteed loans		$	-		$	356		$	2,130		$	2,770		$	5,739		$	106,332		$	-		$	117,327		$	122,429
Conventional residential mortgage loans:
FICO Score
Less than 620			-			-			463			1,280			75			280,356			-			282,174			286,754
Greater than or equal to 620
and less than 680			89			2,223			7,359			6,920			7,781			380,022			-			404,394			416,766
Greater than or equal to 680
and less than 740			4,682			23,085			40,264			21,361			35,242			492,137			-			616,771			626,291
Greater than or equal to 740			5,698			40,266			60,914			40,553			61,184			688,891			-			897,506			915,347
Total residential mortgages in
Puerto Rico and Virgin Islands region		$	10,469		$	65,930		$	111,130		$	72,884		$	110,021		$	1,947,738		$	-		$	2,318,172		$	2,367,587
Florida region:
FHA/VA government-guaranteed loans		$	-		$	-		$	-		$	290		$	-		$	898		$	-		$	1,188		$	1,480
Conventional residential mortgage loans:
FICO Score
Less than 620			-			-			2,567			-			-			898			-			3,465			3,485
Greater than or equal to 620
and less than 680			264			5,155			3,643			10,412			11,910			18,380			-			49,764			51,164
Greater than or equal to 680
and less than 740			2,807			16,871			17,911			32,859			29,656			49,568			-			149,672			151,544
Greater than or equal to 740			5,700			36,250			49,089			59,710			50,200			152,462			-			353,411			358,513
Total residential mortgages in Florida region		$	8,771		$	58,276		$	73,210		$	103,271		$	91,766		$	222,206		$	-		$	557,500		$	566,186
Total:
FHA/VA government-guaranteed loans		$	-		$	356		$	2,130		$	3,060		$	5,739		$	107,230		$	-		$	118,515		$	123,909
Conventional residential mortgage loans:
FICO Score
Less than 620			-			-			3,030			1,280			75			281,254			-			285,639			290,239
Greater than or equal to 620
and less than 680			353			7,378			11,002			17,332			19,691			398,402			-			454,158			467,930
Greater than or equal to 680
and less than 740			7,489			39,956			58,175			54,220			64,898			541,705			-			766,443			777,835
Greater than or equal to 740			11,398			76,516			110,003			100,263			111,384			841,353			-			1,250,917			1,273,860
Total residential mortgages		$	19,240		$	124,206		$	184,340		$	176,155		$	201,787		$	2,169,944		$	-		$	2,875,672		$	2,933,773

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The following table presents the amortized cost in consumer loans by origination year based on original credit scores as of March 31, 2020 and consumer loans based on original credit scores as of December 31, 2019:

 

CONSUMER		As of March 31, 2020
		Term Loans																								As of December 31, 2019
Puerto Rico and Virgin Islands Region		Amortized Cost Basis by Origination Year
(In thousands)		2020			2019			2018			2017			2016			Prior			Revolving Loans Amortized Cost Basis			Total			Total
Auto loans
Original FICO score
Less than 620		$	13,484		$	55,007		$	29,046		$	13,441		$	9,764		$	8,755		$	-		$	129,497		$	126,540
Greater than or equal to 620
and less than 680			36,068			160,298			104,758			47,050			24,460			23,238			-			395,872			388,890
Greater than or equal to 680
and less than 740			31,582			141,358			88,652			40,956			24,097			16,273			-			342,918			333,734
Greater than or equal to 740			30,328			110,340			58,096			33,387			22,474			13,362			-			267,987			255,196
Total auto loans		$	111,462		$	467,003		$	280,552		$	134,834		$	80,795		$	61,628		$	-		$	1,136,274		$	1,104,360
Finance leases
Original FICO score
Less than 620		$	917		$	6,052		$	5,140		$	2,259		$	737		$	591		$	-		$	15,696		$	15,852
Greater than or equal to 620
and less than 680			6,651			39,654			31,521			14,862			6,261			4,352			-			103,301			100,438
Greater than or equal to 680
and less than 740			11,902			64,512			53,723			22,471			14,122			8,562			-			175,292			170,034
Greater than or equal to 740			10,817			54,977			38,009			11,689			12,748			6,617			-			134,857			128,208
Total finance leases		$	30,287		$	165,195		$	128,393		$	51,281		$	33,868		$	20,122		$	-		$	429,146		$	414,532
Personal loans
Original FICO score
Less than 620		$	840		$	3,042		$	2,088		$	820		$	718		$	618		$	-		$	8,126		$	8,197
Greater than or equal to 620
and less than 680			4,901			27,691			12,014			4,921			1,849			1,032			-			52,408			52,712
Greater than or equal to 680
and less than 740			11,790			53,286			27,814			13,053			5,677			3,045			-			114,665			114,147
Greater than or equal to 740			8,746			40,676			26,457			12,686			6,275			2,857			-			97,697			98,668
Unscorable			-			-			-			-			-			-			-			-			369
Total personal loans		$	26,277		$	124,695		$	68,373		$	31,480		$	14,519		$	7,552		$	-		$	272,896		$	274,093
Credit cards
Original FICO score
Less than 620		$	-		$	-		$	-		$	-		$	-		$	-		$	10,823		$	10,823		$	11,247
Greater than or equal to 620
and less than 680			-			-			-			-			-			-			57,032			57,032			57,643
Greater than or equal to 680
and less than 740			-			-			-			-			-			-			124,289			124,289			126,977
Greater than or equal to 740			-			-			-			-			-			-			91,930			91,930			96,423
Total credit cards		$	-		$	-		$	-		$	-		$	-		$	-		$	284,074		$	284,074		$	292,290
Other consumer loans
Original FICO score
Less than 620		$	2,887		$	13,848		$	3,776		$	2,308		$	1,046		$	812		$	3,608		$	28,285		$	28,251
Greater than or equal to 620
and less than 680			7,984			33,375			9,625			5,282			2,455			7,012			1,982			67,715			68,727
Greater than or equal to 680
and less than 740			5,475			19,082			6,238			3,065			1,366			3,329			3,367			41,922			41,914
Greater than or equal to 740			1,234			5,074			1,630			928			408			2,115			1,692			13,081			13,359
Unscorable			-			-			-			-			-			2,613			398			3,011			3,605
Total other consumer loans		$	17,580		$	71,379		$	21,269		$	11,583		$	5,275		$	15,881		$	11,047		$	154,014		$	155,856
Total consumer loans in Puerto Rico and Virgin Islands region		$	185,606		$	828,272		$	498,587		$	229,178		$	134,457		$	105,183		$	295,121		$	2,276,404		$	2,241,131

53

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CONSUMER		As of March 31, 2020
		Term Loans																								As of December 31, 2019
Florida Region		Amortized Cost Basis by Origination Year
(In thousands)		2020			2019			2018			2017			2016			Prior			Revolving Loans Amortized Cost Basis			Total			Total
Auto loans
Original FICO score
Less than 620		$	-		$	38		$	1,182		$	1,070		$	869		$	237		$	-		$	3,396		$	3,857
Greater than or equal to 620
and less than 680			-			625			5,286			4,316			2,122			812			-			13,161			15,052
Greater than or equal to 680
and less than 740			-			538			3,991			1,886			834			266			-			7,515			8,590
Greater than or equal to 740			-			352			1,758			409			148			39			-			2,706			2,996
Total auto loans		$	-		$	1,553		$	12,217		$	7,681		$	3,973		$	1,354		$	-		$	26,778		$	30,495
Finance leases
Original FICO score
Less than 620		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Greater than or equal to 620
and less than 680			-			-			-			-			-			-			-			-			-
Greater than or equal to 680
and less than 740			-			-			-			-			-			-			-			-			-
Greater than or equal to 740			-			-			-			-			-			-			-			-			-
Total finance leases		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Personal loans
Original FICO score
Less than 620		$	-		$	11		$	-		$	5		$	250		$	-		$	-		$	266		$	593
Greater than or equal to 620
and less than 680			10			-			-			-			-			-			-			10			-
Greater than or equal to 680
and less than 740			-			53			-			26			-			-			-			79			85
Greater than or equal to 740			-			-			-			70			-			-			-			70			71
Unscorable			-			-			-			-			-			-			-			-			33
Total personal loans		$	10		$	64		$	-		$	101		$	250		$	-		$	-		$	425		$	782
Credit cards
Original FICO score
Less than 620		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Greater than or equal to 620
and less than 680			-			-			-			-			-			-			-			-			-
Greater than or equal to 680
and less than 740			-			-			-			-			-			-			-			-			-
Greater than or equal to 740			-			-			-			-			-			-			-			-			-
Total credit cards		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Other consumer loans
Original FICO score
Less than 620		$	-		$	77		$	-		$	-		$	-		$	-		$	-		$	77		$	83
Greater than or equal to 620
and less than 680			189			-			-			109			29			631			96			1,054			874
Greater than or equal to 680
and less than 740			-			-			43			51			329			1,313			780			2,516			2,559
Greater than or equal to 740			-			-			-			25			325			2,908			2,117			5,375			5,573
Unscorable			-			-			-			-			-			-			-			-			156
Total other consumer loans		$	189		$	77		$	43		$	185		$	683		$	4,852		$	2,993		$	9,022		$	9,245
Total consumer loans in Florida region		$	199		$	1,694		$	12,260		$	7,967		$	4,906		$	6,206		$	2,993		$	36,225		$	40,522

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CONSUMER		As of March 31, 2020
		Term Loans																								As of December 31, 2019
Total		Amortized Cost Basis by Origination Year
(In thousands)		2020			2019			2018			2017			2016			Prior			Revolving Loans Amortized Cost Basis			Total			Total
Auto loans
Original FICO score
Less than 620		$	13,484		$	55,045		$	30,228		$	14,511		$	10,633		$	8,992		$	-		$	132,893		$	130,397
Greater than or equal to 620
and less than 680			36,068			160,923			110,044			51,366			26,582			24,050			-			409,033			403,942
Greater than or equal to 680
and less than 740			31,582			141,896			92,643			42,842			24,931			16,539			-			350,433			342,324
Greater than or equal to 740			30,328			110,692			59,854			33,796			22,622			13,401			-			270,693			258,192
Total auto loans		$	111,462		$	468,556		$	292,769		$	142,515		$	84,768		$	62,982		$	-		$	1,163,052		$	1,134,855
Finance leases
Original FICO score
Less than 620		$	917		$	6,052		$	5,140		$	2,259		$	737		$	591		$	-		$	15,696		$	15,852
Greater than or equal to 620
and less than 680			6,651			39,654			31,521			14,862			6,261			4,352			-			103,301			100,438
Greater than or equal to 680
and less than 740			11,902			64,512			53,723			22,471			14,122			8,562			-			175,292			170,034
Greater than or equal to 740			10,817			54,977			38,009			11,689			12,748			6,617			-			134,857			128,208
Total finance leases		$	30,287		$	165,195		$	128,393		$	51,281		$	33,868		$	20,122		$	-		$	429,146		$	414,532
Personal loans
Original FICO score
Less than 620		$	840		$	3,053		$	2,088		$	825		$	968		$	618		$	-		$	8,392		$	8,790
Greater than or equal to 620
and less than 680			4,911			27,691			12,014			4,921			1,849			1,032			-			52,418			52,712
Greater than or equal to 680
and less than 740			11,790			53,339			27,814			13,079			5,677			3,045			-			114,744			114,232
Greater than or equal to 740			8,746			40,676			26,457			12,756			6,275			2,857			-			97,767			98,739
Unscorable			-			-			-			-			-			-			-			-			402
Total personal loans		$	26,287		$	124,759		$	68,373		$	31,581		$	14,769		$	7,552		$	-		$	273,321		$	274,875
Credit cards
Original FICO score
Less than 620		$	-		$	-		$	-		$	-		$	-		$	-		$	10,823		$	10,823		$	11,247
Greater than or equal to 620
and less than 680			-			-			-			-			-			-			57,032			57,032			57,643
Greater than or equal to 680
and less than 740			-			-			-			-			-			-			124,289			124,289			126,977
Greater than or equal to 740			-			-			-			-			-			-			91,930			91,930			96,423
Total credit cards		$	-		$	-		$	-		$	-		$	-		$	-		$	284,074		$	284,074		$	292,290
Other consumer loans
Original FICO score
Less than 620		$	2,887		$	13,925		$	3,776		$	2,308		$	1,046		$	812		$	3,608		$	28,362		$	28,334
Greater than or equal to 620
and less than 680			8,173			33,375			9,625			5,391			2,484			7,643			2,078			68,769			69,601
Greater than or equal to 680
and less than 740			5,475			19,082			6,281			3,116			1,695			4,642			4,147			44,438			44,473
Greater than or equal to 740			1,234			5,074			1,630			953			733			5,023			3,809			18,456			18,932
Unscorable			-			-			-			-			-			2,613			398			3,011			3,761
Total other consumer loans		$	17,769		$	71,456		$	21,312		$	11,768		$	5,958		$	20,733		$	14,040		$	163,036		$	165,101
Total consumer loans		$	185,805		$	829,966		$	510,847		$	237,145		$	139,363		$	111,389		$	298,114		$	2,312,629		$	2,281,653

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The following tables present information about collateral dependent loans individually evaluated for purposes of determining the ACL as of March 31, 2020:

Collateral dependent loans
March 31, 2020
		Collateral Dependent Loans - With Specific Allowance					Collateral Dependent Loans - With No Related Specific Allowance			Collateral Dependent Loans - Total
Puerto Rico and Virgin Islands region	Amortized Cost (1)			Related Specific Allowance			Amortized Cost (1)			Amortized Cost (1)			Related Specific Allowance
(In thousands)
Residential mortgage loans:
FHA/VA government-guaranteed loans	$	-		$	-		$	-		$	-		$	-
Conventional residential mortgage loans		127,100			12,687			45,770			172,870			12,687
Commercial loans:
Construction loans		-			-			9,358			9,358			-
Commercial mortgage loans		21,990			5,053			41,844			63,834			5,053
Commercial and Industrial loans		12,763			5,653			17,296			30,059			5,653
Consumer loans:
Auto loans		-			-			-			-			-
Finance leases		-			-			-			-			-
Personal loans		146			2			-			146			2
Credit cards		-			-			-			-			-
Other consumer loans		893			68			63			956			68
	$	162,892		$	23,463		$	114,331		$	277,223		$	23,463

(1) Excludes accrued interest receivable.

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		Collateral Dependent Loans - With Specific Allowance					Collateral Dependent Loans - With No Related Specific Allowance			Collateral Dependent Loans - Total
Florida region	Amortized Cost (1)			Related Specific Allowance			Amortized Cost (1)			Amortized Cost (1)			Related Specific Allowance
(In thousands)
Residential mortgage loans:
FHA/VA government-guaranteed loans	$	-		$	-		$	-		$	-		$	-
Conventional residential mortgage loans		8,459			1,091			707			9,166			1,091
Commercial loans:
Construction loans		-			-			-			-			-
Commercial mortgage loans		-			-			5,175			5,175			-
Commercial and Industrial loans		-			-			292			292			-
Consumer loans:
Auto loans		-			-			-			-			-
Finance leases		-			-			-			-			-
Personal loans		-			-			-			-			-
Credit cards		-			-			-			-			-
Other consumer loans		-			-			-			-			-
	$	8,459		$	1,091		$	6,174		$	14,633		$	1,091

(1) Excludes accrued interest receivable.

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		Collateral Dependent Loans - With Specific Allowance					Collateral Dependent Loans - With No Related Specific Allowance			Collateral Dependent Loans - Total
Total	Amortized Cost (1)			Related Specific Allowance			Amortized Cost (1)			Amortized Cost (1)			Related Specific Allowance
(In thousands)
Residential mortgage loans:
FHA/VA government-guaranteed loans	$	-		$	-		$	-		$	-		$	-
Conventional residential mortgage loans		135,559			13,778			46,477			182,036			13,778
Commercial loans:
Construction loans		-			-			9,358			9,358			-
Commercial mortgage loans		21,990			5,053			47,019			69,009			5,053
Commercial and Industrial loans		12,763			5,653			17,588			30,351			5,653
Consumer loans:											-			-
Auto loans		-			-			-			-			-
Finance leases		-			-			-			-			-
Personal loans		146			2			-			146			2
Credit cards		-			-			-			-			-
Other consumer loans		893			68			63			956			68
	$	171,351		$	24,554		$	120,505		$	291,856		$	24,554

(1) Excludes accrued interest receivable.

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The underlying collateral for residential mortgage and consumer collateral dependent loans consisted of single-family residential properties, and for commercial and construction loans consisted primarily of office buildings, multifamily residential properties, and retail establishments. The weighted-average loan-to-value coverage for collateral dependent loans as of March 31, 2020 was 86%. There were no significant changes in the extent to which collateral secures the Corporation’s collateral dependent financial assets during the first quarter of 2020.

 

Purchases and Sales of Loans

 

During the first quarter of 2020, the Corporation purchased $0.8 million of residential mortgage loans as part of a strategic program to purchase ongoing residential mortgage loan production from mortgage bankers in Puerto Rico, compared to purchases of $4.3 million for the first quarter of 2019. In general, the loans purchased from mortgage bankers were conforming residential mortgage loans. Purchases of conforming residential mortgage loans provide the Corporation the flexibility to retain or sell the loans, including through securitization transactions, depending upon the Corporation’s interest rate risk management strategies. When the Corporation sells such loans, it generally keeps the servicing of the loans.

 

In the ordinary course of business, the Corporation sells residential mortgage loans (originated or purchased) to GNMA and GSEs such as FNMA and FHLMC, which generally securitize the transferred loans into MBS for sale into the secondary market. During the first quarter of 2020, the Corporation sold $60.9 million of FHA/VA mortgage loans to GNMA, which packaged them into MBS, compared to sales of $51.0 million for the first quarter of 2019. Also, during the first quarter of 2020, the Corporation sold approximately $32.8 million of performing residential mortgage loans to FNMA and FHLMC, compare to sales of $26.3 million for the first quarter of 2019. The Corporation’s continuing involvement in these sold loans consists primarily of servicing the loans. In addition, the Corporation agreed to repurchase loans if it breaches any of the representations and warranties included in the sale agreement. These representations and warranties are consistent with the GSEs’ selling and servicing guidelines (i.e., ensuring that the mortgage was properly underwritten according to established guidelines).

 

For loans sold to GNMA, the Corporation holds an option to repurchase individual delinquent loans issued on or after January 1, 2003 when the borrower fails to make any payment for three consecutive months. This option gives the Corporation the ability, but not the obligation, to repurchase the delinquent loans at par without prior authorization from GNMA.

 

Under ASC Topic 860, “Transfer and Servicing,” once the Corporation has the unilateral ability to repurchase the delinquent loan, it is considered to have regained effective control over the loan and is required to recognize the loan and a corresponding repurchase liability on the balance sheet regardless of the Corporation’s intent to repurchase the loan. As of March 31, 2020 and December 31, 2019, rebooked GNMA delinquent loans included in the residential mortgage loan portfolio amounted to $35.0 million and $35.6 million, respectively.

 

During the first quarter of 2020 and 2019, the Corporation repurchased, pursuant to its repurchase option with GNMA, $5.2 million and $4.2 million, respectively, of loans previously sold to GNMA. The principal balance of these loans is fully guaranteed and the risk of loss related to the repurchased loans is generally limited to the difference between the delinquent interest payment advanced to GNMA, which is computed at the loan’s interest rate, and the interest payments reimbursed by FHA, which are computed at a pre-determined debenture rate. Repurchases of GNMA loans allow the Corporation, among other things, to maintain acceptable delinquency rates on outstanding GNMA pools and remain as a seller and servicer in good standing with GNMA. Historically, losses for violations of representations and warranties, and on optional repurchases of GNMA delinquent loans, have been immaterial and no provision has been made at the time of sale.

 

Loan sales to FNMA and FHLMC are without recourse in relation to the future performance of the loans. The Corporation repurchased at par loans previously sold to FNMA and FHLMC in the amount of $41 thousand and $63 thousand during the first quarter of 2020 and 2019, respectively. The Corporation’s risk of loss with respect to these loans is also minimal as these repurchased loans are generally performing loans with documentation deficiencies.

 

In addition, during the first quarter of 2019, the Corporation sold $4.8 million in nonaccrual commercial loans held for sale.

 

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Loan Portfolio Concentration

 

The Corporation’s primary lending area is Puerto Rico. The Corporation’s banking subsidiary, FirstBank, also lends in the USVI and BVI markets and in the United States (principally in the state of Florida). Of the total gross loans held for investment of $9.0 billion as of March 31, 2020, credit risk concentration was approximately 74% in Puerto Rico, 21% in the United States, and 5% in the USVI and BVI.

 

As of March 31, 2020, the Corporation had $56.6 million outstanding in loans extended to the Puerto Rico government, its municipalities and public corporations, compared to $57.7 million as of December 31, 2019. Approximately $43.0 million of the outstanding loans as of March 31, 2020 consisted of loans extended to municipalities in Puerto Rico, which in most cases are supported by assigned property tax revenues. The vast majority of revenues of the municipalities included in the Corporation’s loan portfolio are independent of the Puerto Rico central government. These municipalities are required by law to levy special property taxes in such amounts as are required for the payment of all of their respective general obligation bonds and notes. Late in 2015, the GDB and the Municipal Revenue Collection Center (“CRIM”) signed and perfected a deed of trust. Through this deed, the Puerto Rico Fiscal Agency and Financial Advisory Authority, as fiduciary, is bound to keep the CRIM funds separate from any other deposits and must distribute the funds pursuant to applicable law. The CRIM funds are deposited at another commercial depository financial institution in Puerto Rico. In addition to loans extended to municipalities, the Corporation’s loan exposure to the Puerto Rico government as of March 31, 2020 included a $13.7 million loan granted to an affiliate of PREPA.

 

In addition, as of March 31, 2020, the Corporation had $103.6 million in exposure to residential mortgage loans that are guaranteed by the PRHFA, compared to $106.9 million as of December 31, 2019. Residential mortgage loans guaranteed by the PRHFA are secured by the underlying properties and the guarantees serve to cover shortfalls in collateral in the event of a borrower default. The Puerto Rico government guarantees up to $75 million of the principal for all loans under the mortgage loan insurance program. According to the most recently-released audited financial statements of the PRHFA, as of June 30, 2016, the PRHFA’s mortgage loans insurance program covered loans in an aggregate of approximately $576 million. The regulations adopted by the PRHFA require the establishment of adequate reserves to guarantee the solvency of the mortgage loan insurance fund. As of June 30, 2016, the most recent date as of which information is available, the PRHFA had a restricted net position for such purposes of approximately $77.4 million.

 

The Corporation also has credit exposure to USVI government entities. As of March 31, 2020, the Corporation had $62.5 million in loans to USVI government instrumentalities and public corporations, compared to $64.1 million as of December 31, 2019. Of the amount outstanding as of March 31, 2020, public corporations of the USVI owed approximately $39.3 million and an independent instrumentality of the USVI government owed approximately $23.2 million. As of March 31, 2020, all loans were currently performing and up to date on principal and interest payments.

 

The Corporation cannot predict at this time the ultimate effect on the Puerto Rico economy, the Corporation’s clients, and the Corporation’s financial condition and results of operations of the financial problems of the Commonwealth of Puerto Rico, which may be exacerbated as a result of the COVID-19 pandemic, the uncertainty about the ultimate outcomes of the debt restructuring process, and the various legislative and other measures adopted and to be adopted by the Puerto Rico government and the PROMESA oversight board in response to such fiscal situation.

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Troubled Debt Restructurings

 

The Corporation provides homeownership preservation assistance to its customers through a loss mitigation program in Puerto Rico that is similar to the U.S. government’s Home Affordable Modification Program guidelines. Depending upon the nature of borrowers’ financial condition, restructurings or loan modifications through this program, as well as other restructurings of individual commercial, commercial mortgage, construction, and residential mortgage loans, fit the definition of a TDR. A restructuring of a debt constitutes a TDR if the creditor, for economic or legal reasons related to the debtor’s financial difficulties, grants a concession to the debtor that it would not otherwise consider. Modifications involve changes in one or more of the loan terms that bring a defaulted loan current and provide sustainable affordability. Changes may include, among others, the extension of the maturity of the loan and modifications of the loan rate. As of March 31, 2020, the Corporation’s total TDR loans held for investment of $497.3 million consisted of $311.4 million of residential mortgage loans, $82.7 million of commercial and industrial loans, $74.3 million of commercial mortgage loans, $4.3 million of construction loans, and $24.6 million of consumer loans. The Corporation has committed to lend additional amounts on these loans totaling up to $3.0 million.

 

The Corporation’s loss mitigation programs for residential mortgage and consumer loans can provide for one or a combination of the following: movement of interest past due to the end of the loan, extension of the loan term, deferral of principal payments and reduction of interest rates either permanently or for a period of up to six years (increasing back in step-up rates). Additionally, in certain cases, the restructuring may provide for the forgiveness of contractually-due principal or interest. Uncollected interest is added to the end of the loan term at the time of the restructuring and not recognized as income until collected or when the loan is paid off. These programs are available only to those borrowers who have defaulted, or are likely to default, permanently on their loans and would lose their homes in a foreclosure action absent some lender concession. Nevertheless, if the Corporation is not reasonably assured that the borrower will comply with its contractual commitment, the property is foreclosed.

 

Prior to permanently modifying a loan, the Corporation may enter into trial modifications with certain borrowers. Trial modifications generally represent a six-month period during which the borrower makes monthly payments under the anticipated modified payment terms prior to a formal modification. Upon successful completion of a trial modification, the Corporation and the borrower enter into a permanent modification. TDR loans that are participating in or that have been offered a binding trial modification are classified as TDRs when the trial offer is made and continue to be classified as TDRs regardless of whether the borrower enters into a permanent modification. As of March 31, 2020, the Corporation included as TDRs $2.2 million of residential mortgage loans that were participating in or had been offered a trial modification.

 

For the commercial real estate, commercial and industrial, and construction loan portfolios, at the time of a restructuring, the Corporation determines, on a loan-by-loan basis, whether a concession was granted for economic or legal reasons related to the borrower’s financial difficulty. Concessions granted for loans in these portfolios could include: reductions in interest rates to rates that are considered below market; extension of repayment schedules and maturity dates beyond original contractual terms; waivers of borrower covenants; forgiveness of principal or interest; or other contractual changes that are considered to be concessions. The Corporation mitigates loan defaults for these loan portfolios through its collection function. The function’s objective is to minimize both early stage delinquencies and losses upon default of loans in these portfolios. In the case of the commercial and industrial, commercial mortgage, and construction loan portfolios, the Corporation’s Special Asset Group (“SAG”) focuses on strategies for the accelerated reduction of non-performing assets through note sales, short sales, loss mitigation programs, and sales of OREO.

 

In addition, the Corporation extends, renews, and restructures loans with satisfactory credit profiles. Many commercial loan facilities are structured as lines of credit, which generally have one-year terms and, therefore, are required to be renewed annually. Other facilities may be restructured or extended from time to time based upon changes in the borrower’s business needs, use of funds, and timing of completion of projects, and other factors. If the borrower is not deemed to have financial difficulties, extensions, renewals, and restructurings are done in the normal course of business and not considered concessions, and the loans continue to be recorded as performing.

 

In working with borrowers affected by the COVID-19 outbreak, the Corporation has agreed to let consumer borrowers defer payments on their loans (i.e., residential mortgage, personal loans, auto loans, finance leases and small loans) for a period up to June 30, 2020, with the possibility of a further extension up to August 31, 2020, if needed, as long as the borrowers were current in their payments or no more than 2 payments in arrears (not having exceeded 89 days past due as of March 16, 2020), and who did not make their payment corresponding to the month of March. In the case of credit cards and individual lines of credit, the borrowers were required to be current or less than 29 days past due in their payments as of March 16, 2020 to qualify for the payment deferral program. For both consumer and residential mortgage loans subject to the deferral programs, each borrower is required to begin making their regularly scheduled loan payment at the end of the deferral period and the deferred amounts were moved to the end of the loan. The payment deferral programs were applied prospectively beginning, in some instances, with the scheduled contractual payment due in March. For commercial loans, any request for payment deferral is analyzed on a case by case basis. As of May 7, 2020, the Corporation has under deferred payment arrangements approximately 7,064 residential mortgage loans totaling $931.5 million, 93,629 consumer loans totaling $1.0 billion, and 741 commercial and construction loans totaling $1.8 billion. These short-term modifications made in response to COVID-19 pandemic to qualifying borrowers are not considered TDR loans.

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Selected information on the Corporation’s TDR loans held for investment based on the amortized cost by loan class and modification type is summarized in the following tables as of the indicated dates:

 

		As of March 31, 2020
Puerto Rico and Virgin Islands region		Interest rate below market			Maturity or term extension			Combination of reduction in interest rate and extension of maturity			Forgiveness of principal and/or interest			Forbearance Agreement				Other (1)			Total
(In thousands)
TDRs:
Conventional residential mortgage loans		$	18,096		$	11,566		$	214,077		$	-		$	223			$	63,921		$	307,883
Construction loans			23			2,436			1,634			-			-				182			4,275
Commercial mortgage loans			890			1,404			38,850			-			19,776				7,933			68,853
Commercial and industrial loans			561			14,786			11,481			-			19,056				36,543			82,427
Consumer loans:
Auto loans			-			705			6,622			-			-				6,766			14,093
Finance leases			-			33			897			-			-				621			1,551
Personal loans			24			36			773			-			-				241			1,074
Credit cards			-			-			2,733			21			-				-			2,754
Other consumer loans			1,938			1,146			742			177			-				340			4,343
Total Troubled Debt Restructurings in Puerto Rico
and Virgin Islands region		$	21,532		$	32,112		$	277,809		$	198		$	39,055			$	116,547		$	487,253

 

(1)Other concessions granted by the Corporation include deferral of principal and/or interest payments for a period longer than what would be considered insignificant, payment plans under judicial stipulation, or a combination of the concession listed in the table.

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		As of March 31, 2020
Florida region		Interest rate below market			Maturity or term extension			Combination of reduction in interest rate and extension of maturity			Forgiveness of principal and/or interest			Forbearance Agreement				Other (1)			Total
(In thousands)
TDRs:
Conventional residential mortgage loans		$	1,002		$	410		$	2,037		$	-		$	-			$	31		$	3,480
Construction loans			-			-			-			-			-				-			-
Commercial mortgage loans			2,876			855			1,748			-			-				-			5,479
Commercial and industrial loans			-			-			-			-			-				292			292
Consumer loans:
Auto loans			-			74			19			-			-				-			93
Finance leases			-			-			-			-			-				-			-
Personal loans			-			-			-			-			-				-			-
Credit cards			-			-			-			-			-				-			-
Other consumer loans			37			-			181			-			-				480			698
Total Troubled Debt Restructurings in Florida Region		$	3,915		$	1,339		$	3,985		$	-		$	-			$	803		$	10,042

 

(1)Other concessions granted by the Corporation include deferral of principal and/or interest payments for a period longer than what would be considered insignificant, payment plans under judicial stipulation, or a combination of the concession listed in the table.

 

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		As of March 31, 2020
Total		Interest rate below market			Maturity or term extension			Combination of reduction in interest rate and extension of maturity			Forgiveness of principal and/or interest			Forbearance Agreement				Other (1)			Total
(In thousands)
TDRs:
Conventional residential mortgage loans		$	19,098		$	11,976		$	216,114		$	-		$	223			$	63,952		$	311,363
Construction loans			23			2,436			1,634			-			-				182			4,275
Commercial mortgage loans			3,766			2,259			40,598			-			19,776				7,933			74,332
Commercial and industrial loans			561			14,786			11,481			-			19,056				36,835			82,719
Consumer loans:
Auto loans			-			779			6,641			-			-				6,766			14,186
Finance leases			-			33			897			-			-				621			1,551
Personal loans			24			36			773			-			-				241			1,074
Credit cards			-			-			2,733			21			-				-			2,754
Other consumer loans			1,975			1,146			923			177			-				820			5,041
Total Troubled Debt Restructurings		$	25,447		$	33,451		$	281,794		$	198		$	39,055			$	117,350		$	497,295

 

(1)Other concessions granted by the Corporation include deferral of principal and/or interest payments for a period longer than what would be considered insignificant, payment plans under judicial stipulation, or a combination of the concession listed in the table.

 

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		As of December 31, 2019
Puerto Rico and Virgin Islands region		Interest rate below market			Maturity or term extension			Combination of reduction in interest rate and extension of maturity			Forgiveness of principal and/or interest			Forbearance Agreement				Other (1)			Total
(In thousands)
TDRs:
Conventional residential mortgage loans		$	18,561		$	11,188		$	219,618		$	-		$	142			$	63,638		$	313,147
Construction loans			24			2,469			1,639			-			-				189			4,321
Commercial mortgage loans			909			1,414			39,131			-			19,848				8,149			69,451
Commercial and industrial loans			579			16,160			12,077			142			692				36,884			66,534
Consumer loans:
Auto loans			-			801			7,374			-			-				6,249			14,424
Finance leases			-			40			1,066			-			-				426			1,532
Personal loans			26			43			845			-			-				159			1,073
Credit cards			-			-			2,767			24			-				-			2,791
Other consumer loans			2,020			1,196			770			180			-				337			4,503
Total Troubled Debt Restructurings in Puerto Rico
and Virgin Island region		$	22,119		$	33,311		$	285,287		$	346		$	20,682			$	116,031		$	477,776

 

(1)Other concessions granted by the Corporation include deferral of principal and/or interest payments for a period longer than what would be considered insignificant, payment plans under judicial stipulation, or a combination of the concession listed in the table.

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		As of December 31, 2019
Florida region		Interest rate below market			Maturity or term extension			Combination of reduction in interest rate and extension of maturity			Forgiveness of principal and/or interest			Forbearance Agreement				Other (1)			Total
(In thousands)
TDRs:
Conventional residential mortgage loans		$	1,009		$	412		$	2,049		$	-		$	-			$	32		$	3,502
Construction loans			-			-			-			-			-				-			-
Commercial mortgage loans			2,901			862			1,765			-			-				-			5,528
Commercial and industrial loans			-			-			-			-			-				315			315
Consumer loans:
Auto loans			-			97			19			-			-				-			116
Finance leases			-			-			-			-			-				-			-
Personal loans			-			-			-			-			-				-			-
Credit cards			-			-			-			-			-				-			-
Other consumer loans			39			-			183			-			-				538			760
Total Troubled Debt Restructurings in Florida region		$	3,949		$	1,371		$	4,016		$	-		$	-			$	885		$	10,221

 

(1)Other concessions granted by the Corporation include deferral of principal and/or interest payments for a period longer than what would be considered insignificant, payment plans under judicial stipulation, or a combination of the concession listed in the table.

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		As of December 31, 2019
Total		Interest rate below market			Maturity or term extension			Combination of reduction in interest rate and extension of maturity			Forgiveness of principal and/or interest			Forbearance Agreement				Other (1)			Total
(In thousands)
TDRs:
Conventional residential mortgage loans		$	19,570		$	11,600		$	221,667		$	-		$	142			$	63,670		$	316,649
Construction loans			24			2,469			1,639			-			-				189			4,321
Commercial mortgage loans			3,810			2,276			40,896			-			19,848				8,149			74,979
Commercial and industrial loans			579			16,160			12,077			142			692				37,199			66,849
Consumer loans:
Auto loans			-			898			7,393			-			-				6,249			14,540
Finance leases			-			40			1,066			-			-				426			1,532
Personal loans			26			43			845			-			-				159			1,073
Credit cards			-			-			2,767			24			-				-			2,791
Other consumer loans			2,059			1,196			953			180			-				875			5,263
Total Troubled Debt Restructurings		$	26,068		$	34,682		$	289,303		$	346		$	20,682			$	116,916		$	487,997

 

(1)Other concessions granted by the Corporation include deferral of principal and/or interest payments for a period longer than what would be considered insignificant, payment plans under judicial stipulation, or a combination of the concession listed in the table.

 

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The following table presents the Corporation's TDR loans held for investment activity for the indicated periods:
		Quarter Ended
		March 31, 2020			March 31, 2019
(In thousands)
Beginning balance of TDRs		$	487,997		$	582,647
New TDRs			23,125			25,459
Increases to existing TDRs			103			1,175
Charge-offs post modification			(2,337)			(2,821)
Foreclosures			(1,611)			(3,643)
Paid-off, partial payments and other			(9,982)			(13,022)
Ending balance of TDRs		$	497,295		$	589,795

 

TDR loans are classified as either accrual or nonaccrual loans. Loans in accrual status may remain in accrual status when their contractual terms have been modified in a TDR if the loans had demonstrated performance prior to the restructuring and payment in full under the restructured terms is expected. Otherwise, loans on nonaccrual status and restructured as a TDR will remain on nonaccrual status until the borrower has proven the ability to perform under the modified structure, generally for a minimum of six months, and there is evidence that such payments can, and are likely to, continue as agreed. Performance prior to the restructuring, or significant events that coincide with the restructuring, are included in assessing whether the borrower can meet the new terms and may result in the loan being returned to accrual status at the time of the restructuring or after a shorter performance period. If the borrower’s ability to meet the revised payment schedule is uncertain, the loan remains classified as a nonaccrual loan. Loan modifications increase the Corporation’s interest income by returning a nonaccrual loan to performing status, if applicable, increase cash flows by providing for payments to be made by the borrower, and limit increases in foreclosure and OREO costs. A TDR loan that specifies an interest rate that at the time of the restructuring is greater than or equal to the rate the Corporation is willing to accept for a new loan with comparable risk may not be reported as a TDR in the calendar years subsequent to the restructuring, if it is in compliance with its modified terms. The Corporation did not remove any loans from the TDR classification during 2020 and 2019.

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The following tables provide a breakdown of the TDR loans held for investment by those in accrual and nonaccrual status as of the indicated periods:
March 31, 2020		Puerto Rico and
		Virgin Islands region							Florida region							Total
		Accrual		Nonaccrual		Total TDRs			Accrual		Nonaccrual		Total TDRs			Accrual		Nonaccrual (1)		Total TDRs
(In thousands)
Conventional residential mortgage loans		$	253,077	$	54,806	$	307,883		$	3,420	$	60	$	3,480		$	256,497	$	54,866	$	311,363
Construction loans			3,200		1,075		4,275			-		-		-			3,200		1,075		4,275
Commercial mortgage loans			45,193		23,660		68,853			5,479		-		5,479			50,672		23,660		74,332
Commercial and industrial loans			73,531		8,896		82,427			-		292		292			73,531		9,188		82,719
Consumer loans:
Auto loans			7,928		6,165		14,093			93		-		93			8,021		6,165		14,186
Finance leases			1,544		7		1,551			-		-		-			1,544		7		1,551
Personal loans			1,052		22		1,074			-		-		-			1,052		22		1,074
Credit Cards			2,754		-		2,754			-		-		-			2,754		-		2,754
Other consumer loans			3,671		672		4,343			661		37		698			4,332		709		5,041
Total Troubled Debt Restructurings		$	391,950	$	95,303	$	487,253		$	9,653	$	389	$	10,042		$	401,603	$	95,692	$	497,295

(1)Included in nonaccrual loans are $16.3 million in loans that are performing under the terms of the restructuring agreement but are reported in nonaccrual status until the restructured loans meet the criteria of sustained payment performance under the revised terms for reinstatement to accrual status and are deemed fully collectible.

December 31, 2019		Puerto Rico and
		Virgin Islands region							Florida region							Total
		Accrual		Nonaccrual		Total TDRs			Accrual		Nonaccrual		Total TDRs			Accrual		Nonaccrual (1)		Total TDRs
(In thousands)
Conventional residential mortgage loans		$	262,244	$	50,903	$	313,147		$	3,502	$	-	$	3,502		$	265,746	$	50,903	$	316,649
Construction loans			3,238		1,083		4,321			-		-		-			3,238		1,083		4,321
Commercial mortgage loans			45,534		23,917		69,451			5,528		-		5,528			51,062		23,917		74,979
Commercial and industrial loans			59,689		6,845		66,534			-		315		315			59,689		7,160		66,849
Consumer loans:
Auto loans			8,440		5,984		14,424			116		-		116			8,556		5,984		14,540
Finance leases			1,502		30		1,532			-		-		-			1,502		30		1,532
Personal loans			1,052		21		1,073			-		-		-			1,052		21		1,073
Credit Cards			2,791		-		2,791			-		-		-			2,791		-		2,791
Other consumer loans			3,898		605		4,503			723		37		760			4,621		642		5,263
Total Troubled Debt Restructurings		$	388,388	$	89,388	$	477,776		$	9,869	$	352	$	10,221		$	398,257	$	89,740	$	487,997

(1)Included in nonaccrual loans are $14.8 million in loans that are performing under the terms of the restructuring agreement but are reported in nonaccrual status until the restructured loans meet the criteria of sustained payment performance under the revised terms for reinstatement to accrual status and are deemed fully collectible.

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TDR loans exclude restructured residential mortgage loans that are government-guaranteed (e.g., FHA/VA loans) totaling $55.8 million as of March 31, 2020 (compared with $60.1 million as of December 31, 2019). The Corporation excludes FHA/VA guaranteed loans from TDR loan statistics given that, in the event that the borrower defaults on the loan, the principal and interest (at the specified debenture rate) are guaranteed by the U.S. government; therefore, the risk of loss on these types of loans is very low.

 

Loan modifications that are considered TDR loans completed during the first quarter of 2020 and 2019 were as follows:
March 31, 2020
	Number of contracts		Pre-modification Amortized Cost			Post-modification Amortized Cost			Number of contracts		Pre-modification Amortized Cost			Post-modification Amortized Cost			Number of contracts		Pre-modification Amortized Cost			Post-modification Amortized Cost
(Dollars in thousands)
TDRs:
Conventional residential mortgage loans	32		$	3,124		$	2,560		-		$	-		$	-		32		$	3,124		$	2,560
Construction loans	-			-			-		-			-			-		-			-			-
Commercial mortgage loans	2			75			81		-			-			-		2			75			81
Commercial and industrial loans	3			18,386			18,386		-			-			-		3			18,386			18,386
Consumer loans:
Auto loans	81			1,241			1,235		-			-			-		81			1,241			1,235
Finance leases	21			284			284		-			-			-		21			284			284
Personal loans	13			113			111		-			-			-		13			113			111
Credit Cards	57			280			280		-			-			-		57			280			280
Other consumer loans	64			180			188		-			-			-		64			180			188
Total Troubled Debt Restructurings	273		$	23,683		$	23,125		-		$	-		$	-		273		$	23,683		$	23,125

 

March 31, 2019
	Number of contracts		Pre-modification Amortized Cost			Post-modification Amortized Cost			Number of contracts		Pre-modification Amortized Cost			Post-modification Amortized Cost			Number of contracts		Pre-modification Amortized Cost			Post-modification Amortized Cost
(Dollars in thousands)
TDRs:
Conventional residential mortgage loans	29		$	3,178		$	3,191		-		$	-		$	-		29		$	3,178		$	3,191
Construction loans	1			12			12		-			-			-		1			12			12
Commercial mortgage loans	3			22,510			20,334		-			-			-		3			22,510			20,334
Commercial and industrial loans	4			107			106		-			-			-		4			107			106
Consumer loans:
Auto loans	59			914			914		3			33			33		62			947			947
Finance leases	7			159			159		-			-			-		7			159			159
Personal loans	20			204			204		-			-			-		20			204			204
Credit Cards	29			168			168		-			-			-		29			168			168
Other consumer loans	99			320			338		-			-			-		99			320			338
Total Troubled Debt Restructurings	251		$	27,572		$	25,426		3		$	33		$	33		254		$	27,605		$	25,459

 

Recidivism, or the borrower defaulting on its obligation pursuant to a modified loan, results in the loan once again becoming a nonaccrual loan. Recidivism on a modified loan occurs at a notably higher rate than do defaults on new origination loans, so modified loans present a higher risk of loss than do new origination loans. The Corporation considers a loan to have defaulted if the borrower has failed to make payments of either principal, interest, or both for a period of 90 days or more.

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Loan modifications considered TDR loans that defaulted during the quarters ended March 31, 2020 and March 31, 2019, and had become TDR during the 12 months preceding the default date, were as follows:
	Quarter ended March 31,
	2020					2019
Puerto Rico and Virgin Islands region	Number of contracts		Amortized Cost			Number of contracts		Amortized Cost
(Dollars in thousands)
Conventional residential mortgage loans	6		$	1,889		-		$	-
Construction loans	-			-		-			-
Commercial mortgage loans	-			-		-			-
Commercial and industrial loans	1			35		-			-
Consumer loans:
Auto loans	10			176		20			251
Finance leases	1			5		-			-
Personal loans	1			7		-			-
Credit cards	5			14		-			-
Other consumer loans	29			108		18			47
Total Puerto Rico and Virgin Islands region	53		$	2,234		38		$	298

	Quarter ended March 31,
	2020					2019
Florida region	Number of contracts		Amortized Cost			Number of contracts		Amortized Cost
(Dollars in thousands)
Conventional residential mortgage loans	-		$	-		-		$	-
Construction loans	-			-		-			-
Commercial mortgage loans	-			-		-			-
Commercial and industrial loans	-			-		-			-
Consumer loans:
Auto loans	-			-		-			-
Finance leases	-			-		-			-
Personal loans	-			-		-			-
Credit cards	-			-		-			-
Other consumer loans	-			-		-			-
Total in Florida region	-		$	-		-		$	-

	Quarter ended March 31,
	2020					2019
Total	Number of contracts		Amortized Cost			Number of contracts		Amortized Cost
(Dollars in thousands)
Conventional residential mortgage loans	6		$	1,889		-		$	-
Construction loans	-			-		-			-
Commercial mortgage loans	-			-		-			-
Commercial and industrial loans	1			35		-			-
Consumer loans:
Auto loans	10			176		20			251
Finance leases	1			5		-			-
Personal loans	1			7		-			-
Credit cards	5			14		-			-
Other consumer loans	29			108		18			47
Total	53		$	2,234		38		$	298

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For certain TDR loans, the Corporation splits the loans into two new notes, A and B Notes. The A Note is restructured to comply with the Corporation’s lending standards at current market rates, and is tailored to suit the customer’s ability to make timely interest and principal payments. The B Note includes the granting of the concession to the borrower and varies by situation. The B Note is fully charged off but the borrower’s obligation is not forgiven, and payments that are collected are accounted for as recoveries of previously charged-off amounts. A partial charge-off may be recorded if the B Note is collateral dependent and the source of repayment is independent of the A Note. At the time of the restructuring, the A Note is identified and classified as a TDR loan. If the loan performs for at least six months according to the modified terms, the A Note may be returned to accrual status. The borrower’s payment performance prior to the restructuring is included in assessing whether the borrower can meet the new terms and may result in the loan being returned to accrual status at the time of the restructuring. In the periods following the calendar year in which a loan is restructured, the A Note may no longer be reported as a TDR loan if it is in accrual status, is in compliance with its modified terms, and yields a market rate (as determined and documented at the time of the restructuring).

 

The following table provides additional information about the volume of this type of loan restructuring as of March 31, 2020 and March 31, 2019, and the effect on the allowance for credit losses in the first quarter of 2020 and 2019:

 

		Quarter ended												Quarter ended
		March 31, 2020												March 31, 2019
(In thousands)		Commercial Mortgage loans			Commercial and Industrial loans			Construction loans			Total			Commercial Mortgage loans			Commercial and Industrial loans			Construction loans			Total
Beginning balance of A/B Notes		$	22,749		$	26,596		$	1,883		$	51,228		$	3,003		$	28,406		$	2,431		$	33,840
New TDR loan splits			-			-			-			-			20,059			-			-			20,059
Paid-off and partial payments			(97)			(200)			(25)			(322)			(30)			(230)			(71)			(331)
Ending balance of A/B Notes		$	22,652		$	26,396		$	1,858		$	50,906		$	23,032		$	28,176		$	2,360		$	53,568
		Quarter ended												Quarter ended
		March 31, 2020												March 31, 2019
(In thousands)		Commercial Mortgage loans			Commercial and Industrial loans			Construction loans			Total			Commercial Mortgage loans			Commercial and Industrial loans			Construction loans			Total
Allowance for credit losses at the
beginning of the period for A/B Notes		$	3,516		$	14		$	-		$	3,530		$	-		$	473		$	-		$	473
Impact of adopting ASC 326			(415)			89			-			(326)			-			-			-			-
Charges (releases) to the provision
for credit losses			15			(102)			-			(87)			611			(124)			-			487
Allowance for credit losses at the
end of the period for A/B Notes		$	3,116		$	1		$	-		$	3,117		$	611		$	349		$	-		$	960

 

Approximately $39.4 million of the loans restructured using the A/B Note restructure workout strategy were in accrual status as of March 31, 2020.

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NOTE 8 – ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LEASES

 

The following table presents the activity in the ACL on loans and finance leases by portfolio segment for the quarters ended March 31, 2020 and 2019:
Quarter ended March 31, 2020		Residential Mortgage Loans			Construction Loans			Commercial Mortgage Loans			Commercial & Industrial Loans			Consumer Loans			Total
(In thousands)
Allowance for credit losses:
Beginning balance, prior to adoption of ASC 326		$	44,806		$	2,370		$	39,194		$	15,198		$	53,571		$	155,139
Impact of adopting ASC 326			49,837			797			(19,306)			14,731			35,106			81,165
Provision for credit losses			16,218			2,062			14,167			8,391			33,207			74,045
Charge-offs			(4,435)			(3)			(128)			(125)			(15,504)			(20,195)
Recoveries			656			27			44			115			1,778			2,620
Ending balance		$	107,082		$	5,253		$	33,971		$	38,310		$	108,158		$	292,774

 

Quarter ended March 31, 2019		Residential Mortgage Loans			Construction Loans			Commercial Mortgage Loans			Commercial & Industrial Loans			Consumer Loans			Total
(In thousands)
Allowance for credit losses:
Beginning balance		$	50,794		$	3,592		$	55,581		$	32,546		$	53,849		$	196,362
Provision (release) for credit losses			6,639			(95)			121			(5,009)			10,164			11,820
Charge-offs			(6,173)			(207)			(2,400)			(6,311)			(13,269)			(28,360)
Recoveries			626			41			128			1,095			2,020			3,910
Ending balance		$	51,886		$	3,331		$	53,430		$	22,321		$	52,764		$	183,732

 

The Corporation estimates the ACL following the methodologies described in Note 1 – Basis of Presentation and Significant Accounting Policies for each portfolio segment. The ACL for loans and finance leases was $155.1 million as of December 31, 2019. Upon adoption of CECL on January 1, 2020, the Corporation recognized an increase in the ACL for loans and finance leases of approximately $81.2 million, as a cumulative effect adjustment from the adoption of ASC 326, with a corresponding decrease in retained earnings, net of applicable income taxes. As of March 31, 2020, the ACL for loans and finance leases was $292.8 million, up $137.7 million from December 31, 2019, driven by the $81.2 million increase as a result of adopting CECL and a $56.5 million reserve build (i.e., provision of $74.0 million in excess of net charge-offs of $17.6 million) in the first quarter of 2020. The increase in the ACL across all loan portfolio categories primarily reflects the effect of a deteriorating economic outlook due to the COVID-19 pandemic on the macroeconomic variables used for the determination of the PDs and LGDs used in the different models. For those loans where the ACL was determined based on a discounted cash flow model, as indicated in Note 1 – Basis of Presentation and Significant Accounting Policies above, the change in the ACL due to the passage of time is recorded as part of the provision for credit losses.

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The tables below present the allowance for credit losses on loans and finance leases and the carrying value of loans by portfolio segment as of March 31, 2020 and December 31, 2019:
As of March 31, 2020	Residential Mortgage Loans						Commercial Mortgage Loans			Commercial and Industrial Loans				Consumer Loans
				Construction Loans
(Dollars in thousands)																	Total
Total loans held for investment:
Amortized cost of loans	$	2,875,672		$	159,675		$	1,454,753		$	2,236,218			$	2,312,629		$	9,038,947
Allowance for credit losses		107,082			5,253			33,971			38,310				108,158			292,774
Allowance for credit losses to
amortized cost		3.72	%		3.29	%		2.34	%		1.71	%			4.68	%		3.24	%

As of December 31, 2019	Residential Mortgage Loans					Commercial Mortgage Loans			Commercial and Industrial Loans			Consumer Loans
				Construction Loans
(Dollars in thousands)															Total
Total loans held for investment:
Amortized cost of loans	$	2,933,773		$	111,317	$	1,444,586		$	2,230,876		$	2,281,653		$	9,002,205
Allowance for credit losses		44,806			2,370		39,194			15,198			53,571			155,139
Allowance for credit losses to
amortized cost		1.53	%		2.13		2.71	%		0.68	%		2.35	%		1.72	%

 

In addition, the Corporation estimates expected credit losses over the contractual period in which the Corporation is exposed to credit risk via a contractual obligation to extend credit, such as unfunded loan commitments and standby letters of credit for commercial and construction loans, unless the obligation is unconditionally cancellable by the Corporation. The Corporation estimates the ACL for these off-balance sheet exposures following the methodology described in Note 1 – Basis of Presentation and Significant Accounting Policies above. Upon adoption of CECL on January 1, 2020, the Corporation recognized an increase in the ACL for off-balance sheet exposures of approximately $3.9 million, as a cumulative effect adjustment from the adoption of ASC 326, with a corresponding decrease in retained earnings, net of applicable income taxes. As of March 31, 2020, the ACL for off-balance sheet credit exposures was $5.7 million, including the $3.9 million effect of adopting CECL and a $1.8 million charge to the provision in the first quarter of 2020. The increase in the allowance for credit losses for unfunded loan commitments in the first quarter of 2020 primarily reflects the effect of the deteriorating economic outlook due to the COVID-19 pandemic.

 

The following table presents the activity in the ACL for unfunded loan commitments and standby letters of credit for the quarters ended March 31, 2020 and 2019:

 

 

	Quarter ended
	March 31, 2020			March 31, 2019
(In thousands)
Beginning Balance	$	-		$	412
Impact of adopting ASC 326		3,922			-
Provision (release) for credit losses		1,819			(412)
Ending balance	$	5,741		$	-

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NOTE 9 – LOANS HELD FOR SALE

 

The Corporation’s loans held-for-sale portfolio as of the dates indicated was composed of:

 

		March 31, 2020			December 31, 2019
(In thousands)
Residential mortgage loans		$	12,046		$	39,477

 

NOTE 10 – OTHER REAL ESTATE OWNED

 

The following table presents the OREO inventory as of the dates indicated:
		March 31,				December 31,
		2020			2019
(In thousands)
OREO
OREO balances, carrying value:
Residential (1)		$	46,427		$	46,912
Commercial			45,878			47,271
Construction			7,369			7,443
Total		$	99,674		$	101,626

(1)Excludes $19.1 million and $16.7 million as of March 31, 2020 and December 31, 2019, respectively, of foreclosures that meet the conditions of ASC Topic 310-40 “Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure,” and are presented as a receivable (other assets) in the consolidated statements of financial condition.

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NOTE 11 – LEASES

The Corporation’s operating leases are primarily related to the Corporation’s branches and leased commercial space for automated teller machines (“ATMs”). Our leases mainly have terms ranging from two years to thirty years, some of which include options to extend the leases for up to seven years. As of March 31, 2020 and December 31, 2019, the Corporation did not have a lease that qualifies as a finance lease.

Operating lease cost for the quarter ended March 31, 2020 and 2019 amounted to $2.6 million and $2.7 million, respectively.

Supplemental balance sheet information related to leases as of the dates indicated was as follows:
		March 31,			December 31,
		2020			2019
(In thousands)
Operating lease ROU asset		$	59,488		$	61,327
Operating lease liability		$	62,509		$	64,259
Operating lease weighted-average remaining lease term (in years)			10.7			10.8
Operating lease weighted-average discount rate			3.30%			3.29%

 

Generally, the Corporation cannot practically determine the interest rate implicit in the lease. Therefore, the Corporation uses its incremental borrowing rate as the discount rate for the lease.

Supplemental cash flow information related to leases for the indicated periods was as follows:
		Quarter Ended
		March 31,
		2020			2019
(In thousands)
Operating cash flow from operating leases (1)		$	2,550		$	2,742
ROU assets obtained in exchange for operating lease liabilities (2)			274			-

 

(1) Represents cash paid for amounts included in the measurement of operating lease liabilities.

(2)Represents non-cash activity and, accordingly, is not reflected in the consolidated statements of cash flows.

 

 

 

Maturities under lease liabilities as of March 31, 2020, were as follows:
	Amount
(In thousands)
2020	$	7,712
2021		9,622
2022		8,612
2023		7,007
2024		6,422
2025 and later years		35,434
Total lease payments		74,809
Less: imputed interest		(12,300)
Total present value of lease liability	$	62,509

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NOTE 12 – DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

 

One of the market risks facing the Corporation is interest rate risk, which includes the risk that changes in interest rates will result in changes in the value of the Corporation’s assets or liabilities and will adversely affect the Corporation’s net interest income from its loan and investment portfolios. The overall objective of the Corporation’s interest rate risk management activities is to reduce the variability of earnings caused by changes in interest rates.

 

The Corporation designates a derivative as a fair value hedge, cash flow hedge or economic undesignated hedge when it enters into the derivative contract. As of March 31, 2020 and December 31, 2019, all derivatives held by the Corporation were considered economic undesignated hedges. The Corporation records these undesignated hedges at fair value with the resulting gain or loss recognized in current earnings.

 

The following summarizes the principal derivative activities used by the Corporation in managing interest rate risk:

 

Interest rate cap agreements - Interest rate cap agreements provide the right to receive cash if a reference interest rate rises above a contractual rate. The value of the interest rate cap increases as the reference interest rate rises. The Corporation enters into interest rate cap agreements for protection from rising interest rates.

 

Forward Contracts - Forward contracts are primarily sales of to-be-announced (“TBA”) MBS that will settle over the standard delivery date and do not qualify as “regular way” security trades. Regular-way security trades are contracts that have no net settlement provision and no market mechanism to facilitate net settlement and that provide for delivery of a security within the time frame generally established by regulations or conventions in the market place or exchange in which the transaction is being executed. The forward sales are considered derivative instruments that need to be marked to market. The Corporation uses these securities to economically hedge the FHA/VA residential mortgage loan securitizations of the mortgage-banking operations. The Corporation also reports as forward contracts the mandatory mortgage loan sales commitments that it enters into with GSEs that require or permit net settlement via a pair-off transaction or the payment of a pair-off fee. Unrealized gains (losses) are recognized as part of Mortgage banking activities in the consolidated statements of income.

 

Interest Rate Lock Commitments - Interest rate lock commitments are agreements under which the Corporation agrees to extend credit to a borrower under certain specified terms and conditions in which the interest rate and the maximum amount of the loan are set prior to funding. Under the agreement, the Corporation commits to lend funds to a potential borrower, generally on a fixed rate basis, regardless of whether interest rates change in the market.

 

To satisfy the needs of its customers, the Corporation may enter into non-hedging transactions. In these transactions, the Corporation generally participates as a buyer in one of the agreements and as a seller in the other agreement under the same terms and conditions.

 

In addition, the Corporation enters into certain contracts with embedded derivatives that do not require separate accounting as these are clearly and closely related to the economic characteristics of the host contract. When the embedded derivative possesses economic characteristics that are not clearly and closely related to the economic characteristics of the host contract, it is bifurcated, carried at fair value, and designated as a trading or non-hedging derivative instrument.

 

The following table summarizes the notional amounts of all derivative instruments as of indicated dates:
	Notional Amounts (1)
	As of			As of
	March 31,			December 31,
(In thousands)	2020			2019
Undesignated economic hedges:
Interest rate contracts:
Written interest rate cap agreements	$	21,010		$	21,010
Purchased interest rate cap agreements		21,010			21,010
Interest rate lock commitments		34,599			11,456
Forward Contracts:
Sale of TBA GNMA MBS pools		25,500			35,000
Forward loan sales commitments		5,023			6,418
	$	107,142		$	94,894

(1) Notional amounts are presented on a gross basis with no netting of offsetting exposure positions.

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The following table summarizes for derivative instruments their fair values and location in the consolidated statements of financial condition as of the indicated dates:
	Asset Derivatives								Liability Derivatives
	Statement of		March 31,			December 31,					March 31,			December 31,
	Financial		2020			2019					2020			2019
	Condition Location		Fair Value			Fair Value			Statement of Financial Condition Location		Fair Value			Fair Value
(In thousands)
Undesignated economic hedges:
Interest rate contracts:
Written interest rate cap agreements	Other assets		$	-		$	-		Accounts payable and other liabilities		$	9		$	11
Purchased interest rate cap agreements	Other assets			9			11		Accounts payable and other liabilities			-			-
Interest rate lock commitments	Other assets			303			341		Accounts payable and other liabilities			-			-
Forward Contracts:
Sales of TBA GNMA MBS pools	Other assets			-			-		Accounts payable and other liabilities			803			138
Forward loan sales commitments	Other assets			20			20		Accounts payable and other liabilities			-			-
			$	332		$	372				$	812		$	149

 

The following table summarizes the effect of derivative instruments on the consolidated statements of income for the indicated periods:
			Gain (or Loss)
	Location of Unrealized Gain (Loss)			Quarter Ended
	on Derivative Recognized in		March 31,
	Statements of Income		2020			2019
				(In thousands)
Undesignated economic hedges:
Interest rate contracts:
Written and purchased interest rate cap agreements	Interest income - Loans		$	-		$	(4)
Interest rate lock commitments	Mortgage Banking Activities			(91)			(20)
Forward contracts:
Sales of TBA GNMA MBS pools	Mortgage Banking Activities			(665)			127
Forward loan sales commitments	Mortgage Banking Activities			-			5
Total (loss) gain on derivatives			$	(756)		$	108

 

Derivative instruments are subject to market risk. As is the case with investment securities, the market value of derivative instruments is largely a function of the financial market’s expectations regarding the future direction of interest rates. Accordingly, current market values are not necessarily indicative of the future impact of derivative instruments on earnings. This will depend, for the most part, on the shape of the yield curve, and the level of interest rates, as well as the expectations for rates in the future.

 

As of March 31, 2020, the Corporation had not entered into any derivative instrument containing credit-risk-related contingent features.

 

 

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NOTE 13 – OFFSETTING OF ASSETS AND LIABILITIES

 

The Corporation enters into master agreements with counterparties, primarily related to derivatives and repurchase agreements, that may allow for netting of exposures in the event of default. In an event of default, each party has a right of set-off against the other party for amounts owed under the related agreement and any other amount or obligation owed with respect to any other agreement or transaction between them. The following tables present information about contracts subject to offsetting provision related to financial assets and liabilities as well as derivative assets and liabilities, as of the indicated dates:

 

Offsetting of Financial Assets and Derivative Assets
As of March 31, 2020
										Gross Amounts Not Offset in the Statement of Financial Condition
							Net Amounts of Assets Presented in the Statement of Financial Condition
	Gross Amounts of Recognized Assets			Gross Amounts Offset in the Statement of Financial Condition
										Financial Instruments			Cash Collateral
																Net Amount
(In thousands)
Description
Derivatives	$	9		$	-		$	9		$	-		$	(9)		$	-
As of December 31, 2019
										Gross Amounts Not Offset in the Statement of Financial Condition
							Net Amounts of Assets Presented in the Statement of Financial Condition
	Gross Amounts of Recognized Assets			Gross Amounts Offset in the Statement of Financial Condition
										Financial Instruments			Cash Collateral
																Net Amount
(In thousands)
Description
Derivatives	$	11		$	-		$	11		$	-		$	(11)		$	-
Securities purchased under agreements to resell		200,000			(200,000)			-			-			-			-
Total	$	200,011		$	(200,000)		$	11		$	-		$	(11)		$	-

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Offsetting of Financial Liabilities and Derivative Liabilities
As of March 31, 2020
										Gross Amounts Not Offset in the Statement of Financial Condition
							Net Amounts of Liabilities Presented in the Statement of Financial Condition
	Gross Amounts of Recognized Liabilities			Gross Amounts Offset in the Statement of Financial Condition
										Financial Instruments			Cash Collateral
(In thousands)																Net Amount
Description
Securities sold under agreements to repurchase	$	300,000		$	-		$	300,000		$	(300,000)		$	-		$	-
As of December 31, 2019
										Gross Amounts Not Offset in the Statement of Financial Condition
							Net Amounts of Liabilities Presented in the Statement of Financial Condition
	Gross Amounts of Recognized Liabilities			Gross Amounts Offset in the Statement of Financial Condition
										Financial Instruments			Cash Collateral
																Net Amount
(In thousands)
Description
Securities sold under agreements to repurchase	$	300,000		$	(200,000)		$	100,000		$	(100,000)		$	-		$	-

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NOTE 14 – GOODWILL AND OTHER INTANGIBLES

 

Goodwill as of both March 31, 2020 and December 31, 2019 amounted to $28.1 million, recognized as part of Other Assets in the consolidated statements of financial condition. The Corporation’s goodwill is related to the Florida reporting unit. The Corporation conducted its annual evaluation of goodwill and other intangibles during the fourth quarter of 2019. Such analysis indicated that it is more likely than not that the reporting unit’s fair value is greater than its carrying value based on a qualitative assessment of events and circumstances that could impact the latest quantitative estimate of fair value of the reporting unit performed in the fourth quarter of 2018. During the first quarter of 2020, the COVID-19 pandemic broadly impacted the operating environment, notably in March, causing a sharp contraction in global economic activity and increased market volatility affecting both equity and credit markets. Due to this event, the Corporation performed a qualitative assessment to conclude if recent events constituted a triggering event that would indicate that it is more likely than not that the reporting unit is impaired. Although the market volatility resulting from uncertainties around the COVID-19 pandemic negatively broadly affected macroeconomic and equity market indicators, the duration and extent of the effects of the COVID-19 pandemic are highly uncertain at this time and its ultimate effect could be affected by measures implemented by central banks and governments aimed at mitigating the contraction in economic activity and market concerns. There were no other events, specific to the reporting unit, that would have had a significant negative impact on the valuation of the reporting unit. Ultimately, the Corporation concluded that the COVID-19 event not to be a triggering event to perform a quantitative test or to accelerate the indefinite life intangibles impairment analyses. As a result, no impartment charges for goodwill and indefinite-lived intangible assets were recorded during the first quarter of 2020.

 

In connection with the acquisition of the FirstBank-branded credit card loan portfolio in the second quarter of 2012, the Corporation recognized a purchased credit card relationship intangible of $24.5 million ($3.1 million as of March 31, 2020 and $3.6 million as of December 31, 2019), which is being amortized over the remaining estimated life of 1.6 years on an accelerated basis based on the estimated attrition rate of the purchased credit card accounts, which reflects the Corporation’s estimate that it will realize the economic benefits of the intangible asset as the revenue stream generated by the cardholder relationship is realized.

 

The core deposit intangible of $3.3 million as of March 31, 2020 (December 31, 2019 - $3.5 million) primarily consisted of the core deposit acquired in the February 2015 Doral Bank transaction described in Note 1 – Basis of Presentation and Significant Accounting Policies above.

 

In the first quarter of 2016, FirstBank Insurance Agency acquired insurance customer accounts and related customer records and recognized an insurance customer relationship intangible of $1.1 million ($0.4 million as of March 31, 2020 and $0.5 million as of December 31, 2019). The acquired accounts have a direct relationship to the previous mortgage loan portfolio acquisitions from Doral Bank and Doral Financial in 2015 and 2014.

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The following table shows the gross amount and accumulated amortization of the Corporation’s intangible assets recognized as part of Other assets in the consolidated statements of financial condition as of indicated dates:
	As of			As of
	March 31,			December 31,
	2020			2019
(Dollars in thousands)
Core deposit intangible:
Gross amount	$	51,664		$	51,664
Accumulated amortization (1)		(48,377)			(48,176)
Net carrying amount	$	3,287		$	3,488
Remaining amortization period (in years)		4.8			5.1
Purchased credit card relationship intangible:
Gross amount	$	24,465		$	24,465
Accumulated amortization (2)		(21,324)			(20,850)
Net carrying amount	$	3,141		$	3,615
Remaining amortization period (in years)		1.6			1.9
Insurance customer relationship intangible:
Gross amount	$	1,067		$	1,067
Accumulated amortization (3)		(635)			(597)
Net carrying amount	$	432		$	470
Remaining amortization period (in years)		2.8			3.0

(1)For each of the quarters ended March 31, 2020 and 2019, the amortization expense of core deposit intangibles amounted to $0.2 million.

(2)For each of the quarters ended March 31, 2020 and 2019, the amortization expense of the purchased credit card relationship intangible amounted to $0.5 million.

(3)For each of the quarters ended March 31, 2020 and 2019, the amortization expense of the insurance customer relationship intangible amounted to $38 thousand.

The estimated aggregate annual amortization expense related to the intangible assets for future periods is as follows as of March 31, 2020:
			Amount
(In thousands)
2020		$	2,138
2021			2,656
2022			915
2023			622
2024			457
2025 and after			72

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NOTE 15 – NON-CONSOLIDATED VARIABLE INTEREST ENTITIES (“VIE”) AND SERVICING ASSETS

 

The Corporation transfers residential mortgage loans in sale or securitization transactions in which it has continuing involvement, including servicing responsibilities and guarantee arrangements. All such transfers have been accounted for as sales as required by applicable accounting guidance.

 

When evaluating the need to consolidate counterparties to which the Corporation has transferred assets, or with which the Corporation has entered into other transactions, the Corporation first determines if the counterparty is an entity for which a variable interest exists. If no scope exception is applicable and a variable interest exists, the Corporation then evaluates whether it is the primary beneficiary of the VIE and whether the entity should be consolidated or not.

 

Below is a summary of transactions with VIEs for which the Corporation has retained some level of continuing involvement:

 

GNMA

 

The Corporation typically transfers first lien residential mortgage loans in conjunction with GNMA securitization transactions in which the loans are exchanged for cash or securities that are readily redeemed for cash proceeds and servicing rights. The securities issued through these transactions are guaranteed by GNMA and, under seller/servicer agreements, the Corporation is required to service the loans in accordance with the issuers’ servicing guidelines and standards. As of March 31, 2020, the Corporation serviced loans securitized through GNMA with a principal balance of $1.9 billion.

 

Trust-Preferred Securities

 

In 2004, FBP Statutory Trust I, a financing trust that is wholly owned by the Corporation, sold to institutional investors $100 million of its variable-rate trust-preferred securities (“TRuPs”). FBP Statutory Trust I used the proceeds of the issuance, together with the proceeds of the purchase by the Corporation of $3.1 million of FBP Statutory Trust I variable-rate common securities, to purchase $103.1 million aggregate principal amount of the Corporation’s Junior Subordinated Deferrable Debentures. Also in 2004, FBP Statutory Trust II, a financing trust that is wholly owned by the Corporation, sold to institutional investors $125 million of its variable-rate TRuPs. FBP Statutory Trust II used the proceeds of the issuance, together with the proceeds of the purchase by the Corporation of $3.9 million of FBP Statutory Trust II variable-rate common securities, to purchase $128.9 million aggregate principal amount of the Corporation’s Junior Subordinated Deferrable Debentures. The debentures are presented in the Corporation’s consolidated statements of financial condition as other borrowings, net of related issuance costs. The variable-rate TRuPs are fully and unconditionally guaranteed by the Corporation. The Junior Subordinated Deferrable Debentures issued by the Corporation in April 2004 and September 2004 mature on June 17, 2034 and September 20, 2034, respectively; however, under certain circumstances, the maturity of Junior Subordinated Deferrable Debentures may be shortened (such shortening would result in a mandatory redemption of the variable-rate TRuPs).

 

The Collins Amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act eliminated certain TRuPs from Tier 1 Capital; however, these instruments may remain in Tier 2 capital until the instruments are redeemed or mature. Under the indentures, the Corporation has the right, from time to time, and without causing an event of default, to defer payments of interest on the Junior Subordinated Deferrable Debentures by extending the interest payment period at any time and from time to time during the term of the subordinated debentures for up to twenty consecutive quarterly periods. As of March 31, 2020, the Corporation was current on all interest payments due on its subordinated debt.

 

 

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Private Label MBS

 

During 2004 and 2005, an unaffiliated party, referred to in this subsection as the seller, established a series of statutory trusts to effect the securitization of mortgage loans and the sale of trust certificates (“private label MBS”). The seller initially provided the servicing for a fee, which is senior to the obligations to pay private label MBS holders. The seller then entered into a sales agreement through which it sold and issued the private label MBS in favor of the Corporation’s banking subsidiary. Currently, the Bank is the sole owner of the private label MBS; the servicing of the underlying residential mortgages that generate the principal and interest cash flows is performed by another third party, which receives a servicing fee. These private label MBS are variable-rate securities indexed to 90-day LIBOR plus a spread. The principal payments from the underlying loans are remitted to a paying agent (servicer), who then remits interest to the Bank. Interest income is shared to a certain extent with the FDIC, which has an interest only strip (“IO”) tied to the cash flows of the underlying loans and is entitled to receive the excess of the interest income less a servicing fee over the variable rate income that the Bank earns on the securities. This IO is limited to the weighted-average coupon on the securities. The FDIC became the owner of the IO upon its intervention of the seller, a failed financial institution. No recourse agreement exists, and the Bank, as the sole holder of the securities, absorbs all risks from losses on non-accruing loans and repossessed collateral. As of March 31, 2020, the amortized cost and fair value of these private label MBS amounted to $15.4 million and $10.3 million, respectively, with a weighted-average yield of 3.45%, which is included as part of the Corporation’s available-for-sale investment securities portfolio. As described in Note 5 – Investment Securities above, the Corporation established a $0.4 million ACL on these private label MBS during 2020.

 

Investment in unconsolidated entity

 

On February 16, 2011, FirstBank sold an asset portfolio consisting of performing and nonaccrual construction, commercial mortgage and commercial and industrial loans with an aggregate book value of $269.3 million to CPG/GS, an entity organized under the laws of the Commonwealth of Puerto Rico and majority owned by PRLP Ventures LLC (“PRLP”), a company created by Goldman, Sachs & Co. and Caribbean Property Group. In connection with the sale, the Corporation received $88.5 million in cash and a 35% interest in CPG/GS, and made a loan in the amount of $136.1 million representing seller financing provided by FirstBank. The loan was refinanced and consolidated with other outstanding loans of CPG/GS in the second quarter of 2018 and was paid in full in October 2019. FirstBank’s equity interest in CPG/GS is accounted for under the equity method. FirstBank recorded a loss on its interest in CPG/GS in 2014 that reduced to zero the carrying amount of the Bank’s investment in CPG/GS. No negative investment needs to be reported as the Bank has no legal obligation or commitment to provide further financial support to this entity; thus, no further losses have been or will be recorded on this investment.

 

CPG/GS has used cash proceeds on the loan to cover operating expenses and debt service payments, including those related to the refinanced loan that was paid off in October 2019. FirstBank will not receive any return on its equity interest until PRLP receives an aggregate amount equivalent to its initial investment and a priority return of at least 12%, which has not occurred, resulting in FirstBank’s interest in CPG/GS being subordinate to PRLP’s interest. CPG/GS will then begin to make payments pro rata to PRLP and FirstBank, 35% and 65%, respectively, until FirstBank has achieved a 12% return on its invested capital and the aggregate amount of distributions is equal to FirstBank’s capital contributions to CPG/GS.

 

The Bank has determined that CPG/GS is a VIE in which the Bank is not the primary beneficiary. In determining the primary beneficiary of CPG/GS, the Bank considered applicable guidance that requires the Bank to qualitatively assess the determination of the primary beneficiary (or consolidator) of CPG/GS based on whether it has both the power to direct the activities of CPG/GS that most significantly affect the entity’s economic performance and the obligation to absorb losses of, or the right to receive benefits from, CPG/GS that could potentially be significant to the VIE. The Bank determined that it does not have the power to direct the activities that most significantly impact the economic performance of CPG/GS as it does not have the right to manage or influence the loan portfolio, foreclosure proceedings, or the construction and sale of the property; therefore, the Bank concluded that it is not the primary beneficiary of CPG/GS.

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Servicing Assets

 

The Corporation sells residential mortgage loans to GNMA, which generally securitizes the transferred loans into MBS. Also, certain conventional conforming loans are sold to FNMA or FHLMC with servicing retained. The Corporation recognizes as separate assets the rights to service loans for others, whether those servicing assets are originated or purchased. Servicing assets are included as part of Other assets in the consolidated statements of financial condition.

 

The changes in servicing assets are shown below for the indicated periods:
		Quarter ended
		March 31,			March 31,
		2020			2019
(In thousands)
Balance at beginning of period		$	26,762		$	27,428
Capitalization of servicing assets			904			868
Amortization			(1,009)			(810)
Temporary impairment charges, net			(138)			(20)
Other (1)			(35)			(35)
Balance at end of period		$	26,484		$	27,431
(1) Amount represents adjustments related to the repurchase of loans serviced for others.

 

Impairment charges are recognized through a valuation allowance for each individual stratum of servicing assets. The valuation allowance is adjusted to reflect the amount, if any, by which the cost basis of the servicing asset for a given stratum of loans being serviced exceeds its fair value. Any fair value in excess of the cost basis of the servicing asset for a given stratum is not recognized.

 

Changes in the impairment allowance were as follows for the indicated periods:
	Quarter ended
	March 31,			March 31,
	2020			2019
(In thousands)
Balance at beginning of period	$	73		$	30
Temporary impairment charges		138			24
OTTI of servicing assets		(77)			-
Recoveries		-			(4)
Balance at end of period	$	134		$	50

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The components of net servicing income, included as part of mortgage banking activities in the consolidated statements of income, are shown below for the indicated periods:

		Quarter ended
		March 31,			March 31,
		2020			2019
(In thousands)
Servicing fees		$	2,134		$	2,060
Late charges and prepayment penalties			150			154
Adjustment for loans repurchased			(35)			(35)
Other			-			(15)
Servicing income, gross			2,249			2,164
Amortization and impairment of servicing assets			(1,147)			(830)
Servicing income, net		$	1,102		$	1,334

 

The Corporation’s servicing assets are subject to prepayment and interest rate risks. As of March 31, 2020, fair values of the Corporation’s servicing assets were based on a valuation model that incorporates market-driven assumptions regarding discount rates and mortgage prepayment rates, adjusted by the particular characteristics of the Corporation’s servicing portfolio. The Corporation used constant prepayment rate assumptions for the Corporation’s servicing assets for the government-guaranteed mortgage loans of 6.2% for each of the quarters ended March 31, 2020 and 2019. For conventional conforming mortgage loans, the Corporation used 6.9% and 6.7% for the quarters ended March 31, 2020 and 2019, and, for the conventional non-conforming mortgage loans, the Corporation used 8.7% and 9.3% for the quarters ended March 31, 2020 and 2019, respectively. Discount rate assumptions used were 12% for government-guaranteed mortgage loans; 10% for conventional conforming mortgage loans; and 14.3% for conventional non-conforming mortgage loans for each of the quarters ended March 31, 2020 and 2019.

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The weighted averages of the key economic assumptions that the Corporation used in its valuation model and the sensitivity of the current fair value to immediate 10% and 20% adverse changes in those assumptions for mortgage loans as of March 31, 2020 and December 31, 2019 were as follows:

 

	March 31,			December 31,
	2020			2019
(In thousands)
Carrying amount of servicing assets	$	26,484		$	26,762
Fair value	$	30,337		$	31,027
Weighted-average expected life (in years)		8.39			8.39
Constant prepayment rate (weighted-average annual rate)		6.46%			6.45%
Decrease in fair value due to 10% adverse change	$	764		$	748
Decrease in fair value due to 20% adverse change	$	1,496		$	1,464
Discount rate (weighted-average annual rate)		11.27%			11.27%
Decrease in fair value due to 10% adverse change	$	1,393		$	1,450
Decrease in fair value due to 20% adverse change	$	2,677		$	2,783

 

These sensitivities are hypothetical and should be used with caution. As the figures indicate, changes in fair value based on a 10% variation in assumptions generally cannot be extrapolated because the relationship between the change in assumption and the change in fair value may not be linear. Also, in this table, the effect of a variation in a particular assumption on the fair value of the servicing asset is calculated without changing any other assumption; in reality, changes in one factor may result in changes in another (for example, increases in market interest rates may result in lower prepayments), which may magnify or counteract the sensitivities.

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NOTE 16 – DEPOSITS

 

The following table summarizes deposit balances as of the dates indicated:
	March 31,				December 31,
	2020			2019
(In thousands)
Type of account:
Non-interest-bearing checking accounts	$	2,404,932		$	2,367,856
Interest-bearing savings accounts		2,584,201			2,437,345
Interest-bearing checking accounts		1,424,261			1,412,390
Certificates of deposit		2,696,967			2,695,749
Brokered certificates of deposit (CDs)		451,952			435,089
Total	$	9,562,313		$	9,348,429

 

	Brokered CDs mature as follows:
			March 31, 2020
	(In thousands)
	Three months or less		$	88,696
	Over three months to six months			87,276
	Over six months to one year			114,110
	Over one year to three years			126,651
	Over three years to five years			29,268
	Over five years			5,951
	Total		$	451,952

 

The following were the components of interest expense on deposits for the indicated periods:
	Quarter Ended
	March 31,				March 31,
	2020				2019
(In thousands)
Interest expense on deposits	$	19,497		$	17,305
Accretion of premium from acquisition		(1)			(2)
Amortization of broker placement fees		158			189
Interest expense on deposits	$	19,654		$	17,492

 

NOTE 17 – LOANS PAYABLE

 

As of March 31, 2020, loans payable consisted of $60 million in short-term borrowings under the Primary Credit FED Discount Window Program bearing interest at 0.25%. The Corporation participates in the Borrower-in-Custody (“BIC”) Program of the FED. Through the BIC Program, a broad range of loans (including commercial, consumer and residential mortgages) may be pledged as collateral for borrowings through the FED Discount Window. As of March 31, 2020, collateral pledged related to this credit facility amounted to $1.2 billion, mainly commercial, consumer and residential mortgage loans, which after a margin haircuts resulted in over $758 million in lendable value. With the COVID-19 impacts on individual, communities and organizations continuing to evolve, the Federal Reserve has taken several actions to support the economy and financial stability including, among other things, lowering the target range for the federal funds rate and relaunching large scale asset purchases. The FED discount Window program provided the opportunity to access a low-rate short-term source of funding in the current high volatility market environment.

 

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NOTE 18 – SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

 

Securities sold under agreements to repurchase (repurchase agreements) as of the dates indicated consisted of the following:
		March, 31			December 31,
		2020			2019
(In thousands)
Long-term repurchase agreement (1) (2)		$	300,000		$	100,000

(1)Weighted-average interest rate of 2.84% and 2.26% as of March 31, 2020 and December 31, 2019, respectively. As of March 31, 2020, includes $200 million of reserve repurchase agreements tied to variable rates.

(2)During the first quarter of 2020, the Corporation exercised its call option on $200 million of reverse repurchase agreements that were previously offset in the statement of financial condition against variable-rate repurchase agreements, pursuant to ASC topic 210-20-45-11, “Balance Sheet – Offsetting – Repurchase and Reverse Repurchase Agreements.”

 

 

Repurchase agreements mature as follows as of the indicated date:
			March 31, 2020
	(In thousands)
	Over one year to three years		$	100,000
	Over three years to five years			200,000
	Total		$	300,000

 

As of March 31, 2020 and December 31, 2019, the securities underlying such agreements were delivered to the dealers with which the repurchase agreements were transacted.

 

Repurchase agreements as of March 31, 2020, grouped by counterparty, were as follows:
	(Dollars in thousands)					Weighted-Average
	Counterparty		Amount			Maturity (In Months)
	JP Morgan Chase		$	100,000		23
	Credit Suisse First Boston			200,000		58
			$	300,000

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NOTE 19 – ADVANCES FROM THE FEDERAL HOME LOAN BANK

 

The following is a summary of the advances from the FHLB as of the indicated dates:
			March 31,			December 31,
			2020			2019
	(In thousands)
	Short-term Fixed -rate advances from FHLB	(1)	$	30,000		$	35,000
	Long-term Fixed-rate advances from FHLB	(2)		535,000			535,000
			$	565,000		$	570,000

(1)Interest rate of 0.59% and 1.83% as of March 31, 2020 and December 31, 2019, respectively.

(2)Weighted-average interest rate of 2.21% as of each March 31, 2020 and December 31, 2019.

 

Advances from FHLB mature as follows as of the indicated date:
		March 31,
		2020
	(In thousands)
	Within one month	$	55,000
	Over one to three months		20,000
	Over six months to one year		50,000
	Over one year to three years		440,000
	Total	$	565,000

 

As of March 31, 2020, the Corporation used $212.0 million in letters of credit issued by the FHLB as pledges for public deposits in the Virgin Islands and had additional capacity of approximately $529.4 million on this credit facility based on collateral pledged at the FHLB, considering a margin haircut reflecting the perceived risk associated with the collateral.

 

NOTE 20 – OTHER BORROWINGS

 

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

 

 

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

(1) Amount represents junior subordinated interest-bearing debentures due in 2034 with a floating interest rate of 2.75% over 3-month LIBOR (3.59% as of March 31, 2020 and 4.65% as of December 31, 2019).

(2) Amount represents junior subordinated interest-bearing debentures due in 2034 with a floating interest rate of 2.50% over 3-month LIBOR (3.62% as of March 31, 2020 and 4.41% as of December 31, 2019).

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NOTE 21 – STOCKHOLDERS’ EQUITY

 

Common Stock

 

As of March 31, 2020 and December 31, 2019, the Corporation had 2,000,000,000 authorized shares of common stock with a par value of $0.10 per share. As of March 31, 2020 and December 31, 2019, there were 222,955,394 and 222,103,721 shares issued, respectively, and 218,160,725 and 217,359,337 shares outstanding, respectively. Refer to Note 4 – Stock-Based Compensation, to the consolidated financial statements, for information about transactions related to common stock under the Omnibus Plan.

 

On February 6, 2020, the Corporation announced that its Board of Directors declared a quarterly cash dividend of $0.05 per common share that was paid on March 13, 2020 to shareholders of record at the close business on February 28, 2020. For the quarters ended March 31, 2020 and 2019, total cash dividends declared on shares of common stock amounted to $10.9 million and $6.5 million, respectively. The Corporation intends to continue to pay quarterly dividends on common stock.

 

Preferred Stock

 

The Corporation has 50,000,000 authorized shares of preferred stock with a par value of $1.00, redeemable at the Corporation’s option, subject to certain terms. This stock may be issued in series and the shares of each series have such rights and preferences as are fixed by the Board of Directors when authorizing the issuance of that particular series. As of March 31, 2020, the Corporation has five outstanding series of non-convertible, non-cumulative preferred stock: 7.125% non-cumulative perpetual monthly income preferred stock, Series A; 8.35% non-cumulative perpetual monthly income preferred stock, Series B; 7.40% non-cumulative perpetual monthly income preferred stock, Series C; 7.25% non-cumulative perpetual monthly income preferred stock, Series D; and 7.00% non-cumulative perpetual monthly income preferred stock, Series E. The liquidation value per share is $25.

 

Effective January 17, 2012, the Corporation delisted all of its outstanding series of non-convertible, non-cumulative preferred stock from the New York Stock Exchange. The Corporation has not arranged for listing and/or registration on another national securities exchange or for quotation of the Series A through E preferred stock in a quotation medium. The Corporation has continued to pay monthly dividend payments on the non-cumulative perpetual monthly income preferred stock. For each of the quarters ended March 31, 2020 and 2019, total cash dividends declared on shares of preferred stock amounted to $0.7 million. The Corporation intends to continue to make monthly dividend payments on the non-cumulative perpetual to make monthly income preferred stock.

 

Treasury stock

 

During the first quarter of 2020 and 2019, the Corporation withheld an aggregate of 50,285 shares and 168,679 shares, respectively, of the restricted stock that vested during those quarters, to cover the officers’ payroll and income tax withholding liabilities; these shares are held as treasury stock. As of March 31, 2020 and December 31, 2019, the Corporation had 4,794,669 and 4,744,384 shares held as treasury stock, respectively.

 

FirstBank Statutory Reserve (Legal Surplus)

 

The Banking Law of the Commonwealth of Puerto Rico requires that a minimum of 10% of FirstBank’s net income for the year be transferred to a legal surplus reserve until such surplus equals the total of paid-in-capital on common and preferred stock. Amounts transferred to the legal surplus reserve from retained earnings are not available for distribution to the Corporation, including for payment as dividends to the stockholders, without the prior consent of the Puerto Rico Commissioner of Financial Institutions. The Puerto Rico Banking Law provides that, when the expenditures of a Puerto Rico commercial bank are greater than receipts, the excess of the expenditures over receipts must be charged against the undistributed profits of the bank, and the balance, if any, must be charged against the legal surplus reserve, as a reduction thereof. If there is no legal surplus reserve sufficient to cover such balance in whole or in part, the outstanding amount must be charged against the capital account and the Bank cannot pay dividends until it can replenish the legal surplus reserve to an amount of at least 20% of the original capital contributed. FirstBank’s legal surplus reserve, included as part of retained earnings in the Corporation’s consolidated statements of financial condition, amounted to $97.6 million as of March 31, 2020 and December 31, 2019. There were no transfers to the legal surplus reserve during the quarter ended March 31, 2020.

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NOTE 22 - INCOME TAXES

 

Income tax expense includes Puerto Rico and USVI income taxes, as well as applicable U.S. federal and state taxes. The Corporation is subject to Puerto Rico income tax on its income from all sources. As a Puerto Rico corporation, First BanCorp. is treated as a foreign corporation for U.S. and USVI income tax purposes and, accordingly, is generally subject to U.S. and USVI income tax only on its income from sources within the U.S. and USVI or income effectively connected with the conduct of a trade or business in those jurisdictions. Any such tax paid in the U.S. and USVI is also creditable against the Corporation’s Puerto Rico tax liability, subject to certain conditions and limitations.

 

Under the Puerto Rico Internal Revenue Code of 2011, as amended (the “2011 PR Code”), the Corporation and its subsidiaries are treated as separate taxable entities and are not entitled to file consolidated tax returns and, thus, the Corporation is generally not entitled to utilize losses from one subsidiary to offset gains in another subsidiary. Accordingly, in order to obtain a tax benefit from a net operating loss (“NOL”), a particular subsidiary must be able to demonstrate sufficient taxable income within the applicable NOL carry-forward period. Pursuant to the 2011 PR Code, the carry-forward period for NOLs incurred during taxable years that commenced after December 31, 2004 and ended before January 1, 2013 is 12 years; for NOLs incurred during taxable years commencing after December 31, 2012, the carryover period is 10 years. The 2011 PR Code provides a dividend received deduction of 100% on dividends received from “controlled” subsidiaries subject to taxation in Puerto Rico and 85% on dividends received from other taxable domestic corporations.

 

The Corporation has maintained an effective tax rate lower than the maximum statutory rate of 37.5%, mainly by investing in government obligations and MBS exempt from U.S. and Puerto Rico income taxes and by doing business through an International Banking Entity (“IBE”) unit of the Bank, and through the Bank’s subsidiary, FirstBank Overseas Corporation, whose interest income and gains on sales is exempt from Puerto Rico income taxation. The IBE and FirstBank Overseas Corporation were created under the International Banking Entity Act of Puerto Rico, which provides for total Puerto Rico tax exemption on net income derived by IBEs operating in Puerto Rico on the specific activities identified in the IBE Act. An IBE that operates as a unit of a bank pays income taxes at the corporate standard rates to the extent that the IBE’s net income exceeds 20% of the bank’s total net taxable income.

 

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, which the U.S. Congress enacted on March 27, 2020, includes several provisions to stimulate the U.S. economy in the midst of the COVID-19 pandemic. The CARES Act includes tax provisions that temporarily modified the taxable income limitations for NOL usage to offset future taxable income, NOL carryback provisions and other related income and non-income based tax laws. The Corporation has evaluated such provisions and determined that the impact of the CARES Act on the income tax provision and deferred tax assets as of March 31, 2020 was not significant.

 

For the first quarter of 2020, the Corporation recorded an income tax benefit of $3.0 million, compared to an income tax expense of $17.6 million for the same period in 2019. The variance was mostly attributable to an income tax benefit of approximately $20.0 million recorded in the first quarter of 2020 in connection with higher charges to the provision for credit losses for loans, finance leases and debt securities due to the effect of the COVID-19 pandemic on forecasted economic conditions.

 

 

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For the quarter ended March 31, 2020, the Corporation calculated the provision for income taxes by applying the estimated annual effective tax rate for the full fiscal year to ordinary income or loss. In the computation of the consolidated worldwide annual estimated effective tax rate, ASC Topic 740-270, “Income Taxes” (“ASC 740-270”), requires the exclusion of legal entities with pre-tax losses from which a tax benefit cannot be recognized. The Corporation’s estimated annual effective tax rate in the first quarter of 2020, excluding entities from which a tax benefit cannot be recognized and discrete items, was 24% compared to 28% for the first quarter of 2019. The estimated annual effective tax rate including all entities for 2020 was 26% (25% excluding discrete items), compared to 29% for the first quarter of 2019 (26% excluding discrete items).

 

On January 1, 2020, the Corporation increased its deferred tax assets by $31.3 million in connection with the transitional adjustment resulting from the adoption of the CECL accounting standard. The Corporation’s net deferred tax asset amounted to $307.8 million as of March 31, 2020, net of a valuation allowance of $88.5 million, and management concluded, based upon the assessment of all positive and negative evidence, that it is more likely than not that the Corporation will generate sufficient taxable income within the applicable NOL carry-forward periods to realize such amount. Due to the inherent uncertainties related to the extent and duration of the COVID-19 pandemic, there is no evidence that can be objectively verified at this time to affect the Corporation’s assessment about the ability to realize its deferred tax assets. The net deferred tax asset of the Corporation’s banking subsidiary, FirstBank, amounted to $307.7 million as of March 31, 2020, net of a valuation allowance of $52.7 million, compared to a net deferred tax asset of $264.8 million, net of a valuation allowance of $55.6 million, as of December 31, 2019.

 

In 2017, the Corporation completed a formal ownership change analysis within the meaning of Section 382 of the U.S. Internal Revenue Code (“Section 382”) covering a comprehensive period, and concluded that an ownership change had occurred during such period. The Section 382 limitation has resulted in higher U.S. and USVI income tax liabilities than we would have incurred in the absence of such limitation. The Corporation has mitigated to an extent the adverse effects associated with the Section 382 limitation as any such tax paid in the U.S. or USVI can be creditable against Puerto Rico tax liabilities or taken as a deduction against taxable income. However, our ability to reduce our Puerto Rico tax liability through such a credit or deduction depends on our tax profile at each annual taxable period, which is dependent on various factors. For the first quarter of 2020, the Corporation incurred an income tax expense of approximately $1 million related to its U.S. operations, compared to $1.8 million for the same period in 2019. The limitation did not impact the USVI operations in the first quarter of 2020 and 2019.

 

As of March 31, 2020, the Corporation did not have UTBs recorded on its books. The Corporation classifies all interest and penalties, if any, related to tax uncertainties as income tax expense. Audit periods remain open for review until the statute of limitations has passed. The statute of limitations under the 2011 PR code is four years; the statute of limitations for U.S. and USVI income tax purposes is three years after a tax return is due or filed, whichever is later. The completion of an audit by the taxing authorities or the expiration of the statute of limitations for a given audit period could result in an adjustment to the Corporation’s liability for income taxes. Any such adjustment could be material to the results of operations for any given quarterly or annual period based, in part, upon the results of operations for the given period. For U.S. and USVI income tax purposes, all tax years subsequent to 2015 remain open to examination. For Puerto Rico tax purposes, all tax years subsequent to 2015 remain open to examination.

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NOTE 23 – ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

 

The following table presents changes in accumulated other comprehensive income (loss) for the quarters ended March 31, 2020 and 2019:
	Changes in Accumulated Other Comprehensive Income (Loss) by Component (1)
	Quarter ended
	March 31,
	2020			2019
(In thousands)
Unrealized net holding gains (losses) on debt securities
Beginning balance	$	6,764	$	(40,415)
Other comprehensive income (loss)		42,352		20,510
Ending balance	$	49,116	$	(19,905)
______________________

(1)All amounts presented are net of tax.

 

 

The following table presents the amounts reclassified out of each component of Accumulated other comprehensive income (loss) for the quarters ended March 31, 2020 and 2019:
			Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
	Affected Line Item in the Consolidated Statements of Income		Quarter ended
			March 31
			2020				2019
(In thousands)
Unrealized net holding gains (losses) on debt securities
Realized gain on sale of debt securities	Net gain on sale of
	investments		$	(8,247)		$	-
Provision for credit losses	Provision for credit losses			368			-
	Total before tax			(7,879)			-
	Income tax			-			-
	Total, net of tax		$	(7,879)		$	-

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NOTE 24 – FAIR VALUE

 

Fair Value Measurement

 

The FASB authoritative guidance for fair value measurement defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. This guidance also establishes a fair value hierarchy for classifying financial instruments. The hierarchy is based on whether the inputs to the valuation techniques used to measure fair value are observable or unobservable. One of three levels of inputs may be used to measure fair value:

 

 

Level 1	Valuations of Level 1 assets and liabilities are obtained from readily-available pricing sources for market transactions involving identical assets or liabilities. Level 1 assets and liabilities include equity securities that trade in an active exchange market, as well as certain U.S. Treasury and other U.S. government and agency securities and corporate debt securities that are traded by dealers or brokers in active markets.
Level 2	Valuations of Level 2 assets and liabilities are based on observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets and liabilities include (i) MBS for which the fair value is estimated based on the value of identical or comparable assets, (ii) debt securities with quoted prices that are traded less frequently than exchange-traded instruments, and (iii) derivative contracts whose value is determined using a pricing model with inputs that are observable in the market or can be derived principally from or corroborated by observable market data.
Level 3	Valuations of Level 3 assets and liabilities are based on unobservable inputs that are supported by little or no market activity and are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined by using pricing models for which the determination of fair value requires significant management judgments as to the estimation.

 

Financial Instruments Recorded at Fair Value on a Recurring Basis

 

Investment securities available for sale and marketable equity securities held at fair value

 

The fair value of investment securities was the market value based on quoted market prices (as is the case with U.S. Treasury notes, non-callable U.S. agencies debt securities, and equity securities with readily determinable fair values), when available (Level 1), or, when available, market prices for identical or comparable assets (as is the case with MBS and callable U.S. agency debt securities) that are based on observable market parameters, including benchmark yields, reported trades, quotes from brokers or dealers, issuer spreads, bids, offers and reference data, including market research operations (Level 2). Observable prices in the market already consider the risk of nonperformance. If listed prices or quotes are not available, fair value is based upon discounted cash flow models that use unobservable inputs due to the limited market activity of the instrument, as is the case with certain private label MBS held by the Corporation (Level 3).

 

Derivative instruments

 

The fair value of most of the Corporation’s derivative instruments is based on observable market parameters and takes into consideration the credit risk component of paying counterparties, when appropriate. On interest caps, only the seller's credit risk is considered. The Corporation valued the caps using a discounted cash flow approach based on the related LIBOR and swap rate for each cash flow.

 

The Corporation considers a credit spread for those derivative instruments that are not secured. The cumulative mark-to-market effect of credit risk in the valuation of derivative instruments for the quarters ended March 31, 2020 and 2019 was immaterial.

 

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Assets and liabilities measured at fair value on a recurring basis are summarized below as of March 31, 2020 and December 31, 2019:
		As of March 31, 2020												As of December 31, 2019
		Fair Value Measurements Using												Fair Value Measurements Using
	(In thousands)	Level 1			Level 2			Level 3			Assets/Liabilities at Fair Value			Level 1			Level 2			Level 3			Assets/Liabilities at Fair Value
Assets:
Securities available for sale :
U.S. Treasury Securities		$	7,582		$	-		$	-		$	7,582		$	7,479		$	-		$	-		$	7,479
Noncallable U.S. agency debt securities			-			146,154			-			146,154			-			146,777			-			146,777
Callable U.S. agencies
debt securities and MBS			-			1,760,312			-			1,760,312			-			1,950,331			-			1,950,331
Puerto Rico government obligations			-			4,361			2,969			7,330			-			4,348			2,974			7,322
Private label MBS			-			-			10,300			10,300			-			-			11,116			11,116
Other investments			-			-			500			500			-			-			500			500
Equity securities			1,458			-			-			1,458			1,428			-			-			1,428
Derivatives, included in assets:
Purchased interest rate cap agreements			-			9			-			9			-			11			-			11
Interest rate lock commitments			-			303			-			303			-			341			-			341
Forward loan sales commitments			-			20			-			20			-			20			-			20
Liabilities:
Derivatives, included in liabilities:
Written interest rate cap agreements			-			9			-			9			-			11			-			11
Forward contracts			-			803			-			803			-			138			-			138

 

The table below presents a reconciliation of the beginning and ending balances of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the quarters ended March 31, 2020 and 2019:

		Quarter ended March 31,
		2020			2019
Level 3 Instruments Only		Securities			Securities
(In thousands)		Available For Sale(1)			Available For Sale(1)
Beginning balance		$	14,590			17,238
Total (losses) gains (realized/unrealized):
Included in other comprehensive income			240			(23)
Included in earnings			(368)			-
Principal repayments and amortization			(693)			(509)
Ending balance		$	13,769		$	16,706

(1)Amounts mostly related to private label MBS.

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The table below presents qualitative information for significant assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as of March 31, 2020 and December 31, 2019:
	March 31, 2020
								Range			Weighted Average
(In thousands)	Fair Value			Valuation Technique		Unobservable Input		Minimum	Maximum
Investment securities available-for-sale:
Private label MBS	$	10,300		Discounted cash flows		Discount rate		12.7%	12.7%		12.7%
						Prepayment rate		6.8%	10.3%		7.9%
						Projected Cumulative Loss Rate		2.6%	20.7%		8.9%
Puerto Rico government obligations		2,969		Discounted cash flows		Discount rate		8.1%	8.1%		8.1%
						Prepayment rate		3.0%	3.0%		3.0%

	December 31, 2019
								Range			Weighted
(In thousands)	Fair Value			Valuation Technique		Unobservable Input		Minimum	Maximum		Average
Investment securities available-for-sale:
Private label MBS	$	11,116		Discounted cash flows		Discount rate		13.7%	13.7%		13.7%
						Prepayment rate		6.8%	10.3%		7.9%
						Projected Cumulative Loss Rate		0.0%	7.4%		2.8%
Puerto Rico government obligations		2,974		Discounted cash flows		Discount rate		6.9%	6.9%		6.9%
						Prepayment rate		3.0%	3.0%		3.0%

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Information about Sensitivity to Changes in Significant Unobservable Inputs

 

Private label MBS: The significant unobservable inputs in the valuation include probability of default, the loss severity assumption, and prepayment rates. Shifts in those inputs would result in different fair value measurements. Increases in the probability of default, loss severity assumptions, and prepayment rates in isolation would generally result in an adverse effect on the fair value of the instruments. The Corporation modeled meaningful and possible shifts of each input to assess the effect on the fair value estimation.

 

Puerto Rico Government Obligations: The significant unobservable input used in the fair value measurement is the assumed prepayment rate of the underlying residential mortgage loans that collateralize these obligations, which are guaranteed by the PRHFA. A significant increase (decrease) in the assumed rate would lead to a higher (lower) fair value estimate. The fair value of these bonds was based on a discounted cash flow analysis that contemplates the credit quality of the holder of second mortgages and a discount for liquidity constraints on the bonds considering the absence of an active market for them. Due to the guarantee of the PRHFA and other applicable contractual safeguards, the Corporation does not apply any additional credit spread for debt service default.

 

The table below summarizes changes in unrealized gains and losses recorded in earnings for the quarters ended March 31, 2020 and 2019 for Level 3 assets and liabilities that were still held at the end of each period:

		Changes in Unrealized Losses
Level 3 Instruments Only		Quarter ended March 31,
(In thousands)		2020			2019
Changes in unrealized losses relating to assets still held at reporting date:
Provision for credit losses		$	(368)		$	-

 

Additionally, fair value is used on a nonrecurring basis to evaluate certain assets in accordance with GAAP. Adjustments to fair value usually result from the application of lower-of-cost or market accounting (e.g., loans held for sale carried at the lower-of-cost or fair value and repossessed assets) or write-downs of individual assets (e.g., goodwill and loans).

 

As of March 31, 2020, the Corporation recorded losses or valuation adjustments for assets recognized at fair value on a non-recurring basis as shown in the following table:
		Carrying value as of March 31, 2020									Losses recorded for the Quarter Ended March 31, 2020
		Level 1			Level 2			Level 3
(In thousands)
Loans receivable (1)		$	-		$	-		$	291,856		$	(6,393)
OREO (2)			-			-			99,674			(654)

(1) Consists mainly of collateral dependent commercial and construction loans. The Corporation generally measured losses based on the fair value of the collateral. The Corporation derived the fair values from external appraisals that took into consideration prices in observed transactions involving similar assets in similar locations but adjusted for specific characteristics and assumptions of the collateral (e.g., absorption rates), which are not market observable.

(2)The Corporation derived the fair values from appraisals that took into consideration prices in observed transactions involving similar assets in similar locations but adjusted for specific characteristics and assumptions of the properties (e.g., absorption rates and net operating income of income producing properties), which are not market observable. Losses were related to market valuation adjustments after the transfer of the loans to the OREO portfolio.

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As of March 31, 2019, the Corporation recorded losses or valuation adjustments for assets recognized at fair value on a non-recurring basis as shown in the following table:
		Carrying value as of March 31, 2019									Losses recorded for the Quarter Ended March 31, 2019
		Level 1			Level 2			Level 3
(In thousands)
Loans receivable (1)		$	-		$	-		$	366,773		$	(8,863)
OREO (2)			-			-			129,716			(2,643)
Loans held for sale (3)			-			-			7,381			-

(1)Consists mainly of collateral dependent commercial and construction loans. The Corporation generally measured losses based on the fair value of the collateral. The Corporation derived the fair values from external appraisals that took into consideration prices in observed transactions involving similar assets in similar locations but adjusted for specific characteristics and assumptions of the collateral (e.g., absorption rates), which are not market observable.

(2)The Corporation derived the fair values from appraisals that took into consideration prices in observed transactions involving similar assets in similar locations but adjusted for specific characteristics and assumptions of the properties (e.g., absorption rates and net operating income of income producing properties), which are not market observable. Losses were related to market valuation adjustments after the transfer of the loans to the OREO portfolio.

(3)Represents nonaccrual commercial and construction loans transferred to held for sale in 2018 and still in inventory at period-end. The Corporation derived the fair value of these loans primarily from broker price opinions that the Corporation considered.

 

Qualitative information regarding the fair value measurements for Level 3 financial instruments as of March 31, 2020 are as follows:
	March 31, 2020
	Method		Inputs
Loans	Income, Market, Comparable Sales, Discounted Cash Flows		External appraised values; probability weighting of broker price opinions; management assumptions regarding market trends or other relevant factors
OREO	Income, Market, Comparable Sales, Discounted Cash Flows		External appraised values; probability weighting of broker price opinions; management assumptions regarding market trends or other relevant factors

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The following tables present the carrying value, estimated fair value and estimated fair value level of the hierarchy of financial instruments as of March 31, 2020 and December 31, 2019:
	Total Carrying Amount in Statement of Financial Condition March 31, 2020			Fair Value Estimate March 31, 2020			Level 1			Level 2			Level 3
(In thousands)
Assets:
Cash and due from banks and money
market investments (amortized cost)	$	1,087,715		$	1,087,715		$	1,087,715		$	-		$	-
Investment securities available
for sale (fair value)		1,932,178			1,932,178			7,582			1,910,827			13,769
Investment securities held to maturity (amortized cost)		138,534
Less: allowance for credit losses on
held to maturity debt securities		(9,268)
Investment securities held to maturity, net of allowance	$	129,266			111,162			-			-			111,162
Equity Securities (fair value)		39,630			39,630			1,458			38,172			-
Loans held for sale (lower of cost or market)		12,046			12,445			-			12,445			-
Loans held for investment (amortized cost)		9,038,947
Less: allowance for credit losses for loans and finance leases		(292,774)
Loans held for investment, net of allowance	$	8,746,173			8,711,957			-			-			8,711,957
Derivatives, included in assets (fair value)		332			332			-			332			-
Liabilities:
Deposits (amortized cost)		9,562,313			9,602,663			-			9,602,663			-
Loans payable (amortized cost)		60,000			60,000			-			60,000			-
Securities sold under agreements
to repurchase (amortized cost)		300,000			331,551			-			331,551			-
Advances from FHLB (amortized cost)		565,000			576,096			-			576,096			-
Other borrowings (amortized cost)		184,150			156,193			-			-			156,193
Derivatives, included in liabilities (fair value)		812			812			-			812			-

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	Total Carrying Amount in Statement of Financial Condition December 31, 2019			Fair Value Estimate December 31, 2019			Level 1			Level 2			Level 3
(In thousands)
Assets:
Cash and due from banks and money
market investments (amortized cost)	$	644,099		$	644,099		$	644,099		$	-		$	-
Investment securities available
for sale (fair value)		2,123,525			2,123,525			7,479			2,101,456			14,590
Investment securities held to maturity (amortized cost)		138,675			110,374			-			-			110,374
Equity securities (fair value)		38,249			38,249			1,428			36,821			-
Loans held for sale (lower of cost or market)		39,477			40,234			-			40,234			-
Loans held for investment (amortized cost)		9,002,205
Less: allowance for credit losses for loans and finance leases		(155,139)
Loans held for investment, net of allowance	$	8,847,066			8,715,144			-			-			8,715,144
Derivatives, included in assets (fair value)		372			372			-			372			-
Liabilities:
Deposits (amortized cost)		9,348,429			9,372,591			-			9,372,591			-
Securities sold under agreements
to repurchase (amortized cost)		100,000			120,020			-			120,020			-
Advances from FHLB (amortized cost)		570,000			578,498			-			578,498			-
Other borrowings (amortized cost)		184,150			180,577			-			-			180,577
Derivatives, included in liabilities (fair value)		149			149			-			149			-

 

The short-term nature of certain assets and liabilities result in their carrying value approximating fair value. These include cash and cash due from banks and other short-term assets, such as FHLB stock. Certain assets, the most significant being premises and equipment, mortgage servicing rights, core deposit, and other customer relationship intangibles, are not considered financial instruments and are not included above. Accordingly, this fair value information is not intended to, and does not, represent the Corporation’s underlying value. Many of these assets and liabilities that are subject to the disclosure requirements are not actively traded, requiring management to estimate fair values. These estimates necessarily involve the use of assumptions and judgment about a wide variety of factors, including but not limited to, relevancy of market prices of comparable instruments, expected futures cash flows, and appropriate discount rates.

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NOTE 25 – REVENUE FROM CONTRACTS WITH CUSTOMERS

 

Revenue Recognition

 

In accordance with ASC Topic 606, “Revenues from Contracts with Customers,” revenues are recognized when control of promised goods or services is transferred to customers and in an amount that reflects the consideration to which the Corporation expects to be entitled in exchange for those goods or services. To determine revenue recognition for arrangements that an entity determines are within the scope of ASC Topic 606, the Corporation performs the following five steps: (i) identifies the contract(s) with a customer; (ii) identifies the performance obligations in the contract; (iii) determines the transaction price; (iv) allocates the transaction price to the performance obligations in the contract; and (v) recognizes revenue when (or as) the Corporation satisfies a performance obligation. The Corporation only applies the five-step model to contracts when it is probable that the entity will collect the consideration to which it is entitled in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC Topic 606, the Corporation assesses the goods or services that are promised within each contract, identifies those that contain performance obligations, and assesses whether each promised good or service is distinct. The Corporation then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied.

 

Disaggregation of Revenue

 

The following table summarizes the Corporation’s revenue, which includes net interest income on financial instruments and non-interest income, disaggregated by type of service and business segments for the quarters ended March 31, 2020 and 2019:

(In thousands)		Mortgage Banking			Consumer (Retail) Banking			Commercial and Corporate			Treasury and Investments			United States Operations			Virgin Islands Operations			Total
For the quarter ended March 31, 2020:
Net interest income (1)		$	17,058		$	57,744		$	23,581		$	19,875		$	13,785		$	6,606		$	138,649
Service charges and fees on deposit accounts			-			3,483			1,564			-			168			742			5,957
Insurance commissions			-			4,376			-			-			4			202			4,582
Merchant-related income			-			750			-			-			-			149			899
Credit and debit card fees			-			4,217			17			-			10			422			4,666
Other service charges and fees			74			617			412			-			418			147			1,668
Not in scope of Topic 606 (1)			3,566			285			18			8,328			231			-			12,428
Total non-interest income			3,640			13,728			2,011			8,328			831			1,662			30,200
Total Revenue		$	20,698		$	71,472		$	25,592		$	28,203		$	14,616		$	8,268		$	168,849
(In thousands)		Mortgage Banking			Consumer (Retail) Banking			Commercial and Corporate			Treasury and Investments			United States Operations			Virgin Islands Operations			Total
For the quarter ended March 31, 2019:
Net interest income (1)		$	17,749		$	61,534		$	20,933		$	16,795		$	16,209		$	6,961		$	140,181
Service charges and fees on deposit accounts			-			3,524			1,324			-			136			732			5,716
Insurance commissions			-			4,066			-			-			11			173			4,250
Merchant-related income			-			834			196			-			-			264			1,294
Credit and debit card fees			-			4,398			320			-			169			516			5,403
Other service charges and fees			44			843			426			-			133			82			1,528
Not in scope of Topic 606 (1)			3,562			342			252			74			84			38			4,352
Total non-interest income			3,606			14,007			2,518			74			533			1,805			22,543
Total Revenue		$	21,355		$	75,541		$	23,451		$	16,869		$	16,742		$	8,766		$	162,724

(1) Most of the Corporation’s revenue is not within the scope of ASC Topic 606. The guidance explicitly excludes net interest income from financial assets and liabilities, as well as other non-interest income from loans, leases, investment securities and derivative financial instruments.

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For the quarters ended March 31, 2020 and 2019, substantially all of the Corporation’s revenue within the scope of ASC Topic 606 was related to performance obligations satisfied at a point in time.

 

The following is a discussion of revenues under the scope of ASC Topic 606.

 

Service Charges and Fees on Deposit Accounts

 

Service charges and fees on deposit accounts relate to fees generated from a variety of deposit products and services rendered to customers. Charges include, but are not limited to, overdraft fees, non-sufficient fund fees, dormant fees and monthly service charges. Such fees are recognized concurrently with the event on a daily basis or on a monthly basis depending upon the customer’s cycle date. These depository arrangements are considered day-to-day contracts that do not extend beyond the services performed, as customers have the right to terminate these contracts with no penalty or, if any, nonsubstantive penalties.

 

Insurance Commissions

For insurance commissions, which include regular and contingent commissions paid to the Corporation’s insurance agency, the agreements contain a performance obligation related to the sale/issuance of the policy and ancillary administrative post-issuance support. The performance obligations are satisfied when the policies are issued, and revenue is recognized at that point in time. In addition, contingent commission income may be considered to be constrained, as defined under ASC Topic 606. Contingent commission income is included in the transaction price only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur or payments are received. For the quarters ended March 31, 2020 and 2019, respectively, the Corporation recognized revenue of $3.1 million and $2.7 million, respectively, at the time that payments were confirmed and constraints were released.

 

Merchant-related Income

 

For merchant-related income, the determination of which included the consideration of a 2015 sale of merchant contracts that involved sales of point of sale (“POS”) terminals and entry into a marketing alliance under a revenue-sharing agreement, the Corporation concluded that control of the POS terminals and merchant contracts was transferred to the customer at the contract’s inception. With respect to the related revenue-sharing agreement, the Corporation satisfies the marketing alliance performance obligation over the life of the contract, and recognizes the associated transaction price as the entity performs and any constraints over the variable consideration are resolved.

 

Credit and Debit Card Fees

 

Credit and debit card fees primarily represent revenues earned from interchange fees and ATM fees. Interchange and network revenues are earned on credit and debit card transactions conducted with payment networks. ATM fees are primarily earned as a result of surcharges assessed to non-FirstBank customers who use a FirstBank ATM. Such fees are generally recognized concurrently with the delivery of services on a daily basis.

 

Other Fees

 

Other fees primarily include revenues generated from wire transfers, lockboxes, and bank issuances of checks. The Corporation recognizes such fees concurrently with the event or on a monthly basis.

 

 

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Contract Balances

 

A contract liability is an entity’s obligation to transfer goods or services to a customer in exchange for consideration from the customer. During 2019, the Bank entered into a growth agreement with an international card service association to expand the customer base and enhance product offerings. The contract requires the Bank to either launch a new debit card product by March 30, 2021 or maintain a ratio of over 50% of the portfolio with the related card service association by the end of year 2021. In connection with this agreement, the Corporation recognized a contract liability as the revenue is constrained to the fulfillment of either of the above conditions. In addition, as discussed above, during 2015, the Bank entered into a long-term strategic marketing alliance under a revenue-sharing agreement with another entity to which the Bank sold its merchant contracts portfolio and related POS terminals. Merchant services are marketed through FirstBank’s branches and offices in Puerto Rico and the Virgin Islands. Under the revenue-sharing agreement, FirstBank shares with this entity revenues generated by the merchant contracts over the term of the 10-year agreement. As of March 31, 2020 and March 31, 2019, this contract liability amounted to $2.4 million and $2.0 million, respectively, which will be recognized over the remaining term of the contract. For each of the quarters ended March 31, 2020 and 2019, the Corporation recognized revenue and its contract liabilities decreased by approximately $0.1 million, due to the completion of performance over time. There were no changes in contract liabilities due to changes in transaction price estimates.

 

A contract asset is the right to consideration for transferred goods or services when the amount is conditioned on something other than the passage of time. As of March 31, 2020 and March 31, 2019, there were no contract assets from contracts with customers or contract assets recorded on the Corporation’s consolidated financial statements.

 

The following table shows the activity of contract liabilities for the quarters ended March 31, 2020 and 2019:

 

 

 

(In thousands)	March 31, 2020			March 31, 2019
Beginning Balance	$	2,476		$	2,071
Less:
Amortizations		(81)			(81)
Ending balance	$	2,395		$	1,990

 

Other

 

Except for the contract liabilities noted above, the Corporation did not have any significant performance obligations as of March 31, 2020. The Corporation also did not have any material contract acquisition costs and did not make any significant judgments or estimates in recognizing revenue for financial reporting purposes.

 

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NOTE 26 – SUPPLEMENTAL STATEMENT OF CASH FLOWS INFORMATION

 

Supplemental cash flow information is as follows for the indicated periods:

 

	Quarter Ended March 31,
	2020			2019
(In thousands)
Cash paid for:
Interest on borrowings	$	25,935		$	25,368
Income tax		1,070			3,412
Operating cash flow from operating leases		2,550			2,742
Non-cash investing and financing activities:
Additions to OREO		5,283			12,264
Additions to auto and other repossessed assets		12,785			11,587
Capitalization of servicing assets		904			868
Loan securitizations		60,903			51,034
Loans held for investment transferred to held for sale		3,535			1,775
Right-of-use assets obtained in exchange for operating lease liabilities		274			-
Unsettled sales of available-for-sale investment securities		284,201			-
Adoption of lease accounting standard:
Right-of-use assets operating leases		-			57,178
Operating lease liabilities		-			59,818

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NOTE 27 – SEGMENT INFORMATION

 

Based upon the Corporation’s organizational structure and the information provided to the Chief Executive Officer, the operating segments are based primarily on the Corporation’s lines of business for its operations in Puerto Rico, the Corporation’s principal market, and by geographic areas for its operations outside of Puerto Rico. As of March 31, 2020, the Corporation had six reportable segments: Commercial and Corporate Banking; Mortgage Banking; Consumer (Retail) Banking; Treasury and Investments; United States Operations; and Virgin Islands Operations. Management determined the reportable segments based on the internal structure used to evaluate performance and to assess where to allocate resources. Other factors, such as the Corporation’s organizational chart, nature of the products, distribution channels, and the economic characteristics of the products, were also considered in the determination of the reportable segments.

 

The Commercial and Corporate Banking segment consists of the Corporation’s lending and other services for large customers represented by specialized and middle-market clients and the public sector. The Commercial and Corporate Banking segment offers commercial loans, including commercial real estate and construction loans, and floor plan financings, as well as other products, such as cash management and business management services. The Mortgage Banking segment consists of the origination, sale, and servicing of a variety of residential mortgage loans. The Mortgage Banking segment also acquires and sells mortgages in the secondary markets. In addition, the Mortgage Banking segment includes mortgage loans purchased from other local banks and mortgage bankers. The Consumer (Retail) Banking segment consists of the Corporation’s consumer lending and deposit-taking activities conducted mainly through its branch network and loan centers. The Treasury and Investments segment is responsible for the Corporation’s investment portfolio and treasury functions that are executed to manage and enhance liquidity. This segment lends funds to the Commercial and Corporate Banking, Mortgage Banking, Consumer (Retail) Banking and United States Operations segments to finance their lending activities and borrows from those segments. The Consumer (Retail) Banking segment also lends funds to other segments. The interest rates charged or credited by Treasury and Investments and the Consumer (Retail) Banking segments are allocated based on market rates. The difference between the allocated interest income or expense and the Corporation’s actual net interest income from centralized management of funding costs is reported in the Treasury and Investments segment. The United States Operations segment consists of all banking activities conducted by FirstBank in the United States mainland, including commercial and retail banking services. The Virgin Islands Operations segment consists of all banking activities conducted by the Corporation in the USVI and BVI, including commercial and retail banking services.

 

The accounting policies of the segments are the same as those referred to in Note 1 – Nature of Business and Summary of Significant Accounting Policies, in the audited consolidated financial statements of the Corporation for the year ended December 31, 2019, which are included in the 2019 Annual Report on Form 10-K and updates to significant accounting policies described in Note 1 – Basis of Presentation and Significant Accounting Policies of this Form 10-Q.

 

The Corporation evaluates the performance of the segments based on net interest income, the provision for credit losses, non-interest income and direct non-interest expenses. The segments are also evaluated based on the average volume of their interest-earning assets less the ACL.

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The following table presents information about the reportable segments for the quarters ended March 31, 2020 and 2019:
(In thousands)	Mortgage Banking			Consumer (Retail) Banking			Commercial and Corporate Banking			Treasury and Investments			United States Operations			Virgin Islands Operations			Total
For the quarter ended March 31, 2020:
Interest income	$	28,800		$	58,096		$	32,636		$	16,066		$	22,155		$	7,511		$	165,264
Net (charge) credit for transfer of funds		(11,742)			10,030			(9,055)			11,491			(724)			-			-
Interest expense		-			(10,382)			-			(7,682)			(7,646)			(905)			(26,615)
Net interest income		17,058			57,744			23,581			19,875			13,785			6,606			138,649
Provision for credit losses		(15,201)			(32,153)			(19,175)			(1,502)			(6,564)			(2,771)			(77,366)
Non-interest income		3,640			13,728			2,011			8,328			831			1,662			30,200
Direct non-interest expenses		(8,499)			(29,476)			(7,047)			(763)			(8,991)			(7,435)			(62,211)
Segment (loss) income	$	(3,002)		$	9,843		$	(630)		$	25,938		$	(939)		$	(1,938)		$	29,272
Average earning assets	$	2,012,906		$	2,131,502		$	2,420,069		$	2,877,104		$	1,944,385		$	455,129		$	11,841,095
(In thousands)	Mortgage Banking			Consumer (Retail) Banking			Commercial and Corporate Banking			Treasury and Investments			United States Operations			Virgin Islands Operations			Total
For the quarter ended March 31, 2019:
Interest income	$	30,857		$	49,975		$	37,387		$	16,249		$	24,157		$	7,847		$	166,472
Net (charge) credit for transfer of funds		(13,108)			19,662			(16,454)			11,250			(1,350)			-			-
Interest expense		-			(8,103)			-			(10,704)			(6,598)			(886)			(26,291)
Net interest income		17,749			61,534			20,933			16,795			16,209			6,961			140,181
(Provision) release for credit losses		(6,412)			(9,412)			8,462			-			(4,364)			318			(11,408)
Non-interest income		3,606			14,007			2,518			74			533			1,805			22,543
Direct non-interest expenses		(8,481)			(29,404)			(9,401)			(723)			(8,362)			(7,740)			(64,111)
Segment income	$	6,462		$	36,725		$	22,512		$	16,146		$	4,016		$	1,344		$	87,205
Average earning assets	$	2,188,093		$	1,824,240		$	2,499,709		$	2,392,467		$	1,902,771		$	472,912		$	11,280,192

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The following table presents a reconciliation of the reportable segment financial information to the consolidated totals for the indicated periods:
		Quarter Ended
		March 31,
		2020			2019
Net income:
Total income for segments and other		$	29,272		$	87,205
Other operating expenses (1)			(29,973)			(26,273)
(Loss) income before income taxes			(701)			60,932
Income tax (benefit) expense			(2,967)			17,618
Total consolidated net income		$	2,266		$	43,314
Average assets:
Total average earning assets for segments		$	11,841,095		$	11,280,192
Average non-earning assets			912,334			1,003,706
Total consolidated average assets		$	12,753,429		$	12,283,898

(1) Expenses pertaining to corporate administrative functions that support the operating segment, but are not specifically attributable to or managed by any segment, are not included in the reported financial results of the operating segments. The unallocated corporate expenses include certain general and administrative expenses and related depreciation and amortization expenses.

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NOTE 28 – REGULATORY MATTERS, COMMITMENTS AND CONTINGENCIES

 

The Corporation and FirstBank are each subject to various regulatory capital requirements imposed by the federal banking agencies. Failure to meet minimum capital requirements can result in certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material adverse effect on the Corporation’s financial statements and activities. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Corporation must meet specific capital guidelines that involve quantitative measures of the Corporation’s and FirstBank’s assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The Corporation’s capital amounts and classification are also subject to qualitative judgments and adjustment by the regulators with respect to minimum capital requirements, components, risk weightings, and other factors. As of March 31, 2020 and December 31, 2019, the Corporation and FirstBank exceeded the minimum regulatory capital ratios for capital adequacy purposes and FirstBank exceeded the minimum regulatory capital ratios to be considered a well-capitalized institution under the regulatory framework for prompt corrective action. As of March 31, 2020, management does not believe that any condition has changed or event has occurred that would have changed the institution’s status.

 

Although the Corporation and FirstBank became subject to the U.S. Basel III capital rules (“Basel III rules”) beginning on January 1, 2015, certain elements of the Basel III have been deferred by the federal banking agencies. The Corporation and FirstBank compute risk-weighted assets using the Standardized Approach required by the Basel III rules.

 

The Basel III rules require the Corporation to maintain an additional capital conservation buffer of 2.5% to avoid limitations on both (i) capital distributions (e.g., repurchases of capital instruments, dividends and interest payments on capital instruments) and (ii) discretionary bonus payments to executive officers and heads of major business lines.

 

Under the Basel III rules, in order to be considered adequately capitalized and not subject to the above described limitations, the Corporation is required to maintain: (i) a minimum Common Equity Tier 1 Capital (“CET1”) capital to risk-weighted assets ratio of at least 4.5%, plus the 2.5% “capital conservation buffer,” resulting in a required minimum CET1 ratio of at least 7%; (ii) a minimum ratio of total Tier 1 capital to risk-weighted assets of at least 6.0%, plus the 2.5% capital conservation buffer, resulting in a required minimum Tier 1 capital ratio of 8.5%; (iii) a minimum ratio of total Tier 1 plus Tier 2 capital to risk-weighted assets of at least 8.0%, plus the 2.5% capital conservation buffer, resulting in a required minimum total capital ratio of 10.5%; and (iv) a required minimum leverage ratio of 4%, calculated as the ratio of Tier 1 capital to average on-balance sheet (non-risk adjusted) assets.

 

The Federal Reserve Board, the FDIC, and the Office of the Comptroller of the Currency (collectively “the agencies”) have issued several rulemakings over the last two years to simplify certain aspects of the capital rule. For example, the capital rule included transitional arrangements for mortgage servicing assets, temporary difference deferred tax assets, and investments in the capital of unconsolidated financial institutions that a banking organization did not deduct from CET1 capital. In 2017, the agencies adopted a transition rule to allow non-advanced approaches banking organizations, such as the Corporation and FirstBank, to continue to apply the transition treatment in effect in 2017 (including the 100 percent risk weight for mortgage servicing assets, temporary difference deferred tax assets, and significant investments in the capital of unconsolidated financial institutions, instead of the 250 percent risk weight required under the Basel III rules) while the agencies considered the simplifications proposal.

 

On July 9, 2019, the agencies adopted a final rule that supersedes the regulatory capital transition rules and eliminates the transition provisions that are no longer operative. The final rule was generally effective April 1, 2020, with early adoption permitted on January 1, 2020 and eliminates: (i) the 10% CET1 capital deduction threshold, which applies individually to holdings of mortgage servicing assets, temporary difference deferred tax assets, and significant investments in the capital of unconsolidated financial institutions in the form of common stock; (ii) the 15% common equity tier 1 capital deduction threshold, which applies to the aggregate amount of such items; (iii) the 10% threshold for non-significant investments, which applies to holdings of regulatory capital of unconsolidated financial institutions; and (iv) the deduction treatment for significant investments in the capital of unconsolidated financial institutions that are not in the form of common stock. Instead, the final rule requires non-advanced approaches banking organizations to deduct from CET1 capital any amount of mortgage servicing assets, temporary difference deferred tax assets, and investments in the capital of unconsolidated financial institutions that individually exceeds 25% of CET1 capital of the banking organization (the 25% CET1 capital deduction threshold). The final rule retains the requirement that a banking organization must apply a 250% risk weight to non-deducted mortgage servicing assets or temporary difference deferred tax assets.

 

As part of its response to the impact of COVID-19, on March 31, 2020, the Federal Reserve, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency issued an interim final rule that provided the option to temporarily delay the effects of CECL on regulatory capital for two years, followed by a three-year transition period. The interim final rule provides that the day 1 impact to retained earnings plus 25% of the change in the ACL (excluding PCD loans) from January 1, 2020 to December 31, 2021 will be delayed for two years and phased-in at 25% per year beginning on January 1, 2022. Accordingly, as of March 31, 2020, the capital measures of the Corporation and the Bank exclude the $62.3 million day 1 impact to retained earnings and 25% of the increase in the allowance for credit losses (as defined in the interim final rule) from January 1, 2020 to March 31, 2020. The federal financial regulatory agencies may take other measures affecting regulatory capital to address the COVID-19 pandemic, although the nature and impact of such measures cannot be predicted at this time.

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	The regulatory capital positions of the Corporation and FirstBank as of March 31, 2020, which reflects the delay in the effect of CECL on regulatory capital, and December 31, 2019 were as follows:
			Regulatory Requirements
			Actual					For Capital Adequacy Purposes					To be Well-Capitalized Thresholds
			Amount			Ratio		Amount			Ratio		Amount			Ratio
(Dollars in thousands)
As of March 31, 2020
Total Capital (to
Risk-Weighted Assets)
First BanCorp.			$	2,305,042		25.42%		$	725,557		8.0%			N/A		N/A
FirstBank			$	2,259,012		24.91%		$	725,384		8.0%		$	906,730		10.0%
Common Equity Tier 1 Capital
(to Risk-Weighted Assets)
First BanCorp.			$	1,976,105		21.79%		$	408,126		4.5%			N/A		N/A
FirstBank			$	1,836,831		20.26%		$	408,029		4.5%		$	589,375		6.5%
Tier I Capital (to
Risk-Weighted Assets)
First BanCorp.			$	2,012,209		22.19%		$	544,168		6.0%			N/A		N/A
FirstBank			$	2,144,831		23.65%		$	544,038		6.0%		$	725,384		8.0%
Leverage ratio
First BanCorp.			$	2,012,209		15.98%		$	503,686		4.0%			N/A		N/A
FirstBank			$	2,144,831		17.05%		$	503,138		4.0%		$	628,923		5.0%
As of December 31, 2019
Total Capital (to
Risk-Weighted Assets)
First BanCorp.			$	2,286,337		25.22%		$	725,236		8.0%			N/A		N/A
FirstBank			$	2,242,262		24.74%		$	725,047		8.0%		$	906,309		10.0%
Common Equity Tier 1 Capital
(to Risk-Weighted Assets)
First BanCorp.			$	1,957,887		21.60%		$	407,946		4.5%			N/A		N/A
FirstBank			$	1,820,571		20.09%		$	407,839		4.5%		$	589,101		6.5%
Tier I Capital (to
Risk-Weighted Assets)
First BanCorp.			$	1,993,991		22.00%		$	543,927		6.0%			N/A		N/A
FirstBank			$	2,128,571		23.49%		$	543,785		6.0%		$	725,047		8.0%
Leverage ratio
First BanCorp.			$	1,993,991		16.15%		$	493,786		4.0%			N/A		N/A
FirstBank			$	2,128,571		17.26%		$	493,242		4.0%		$	616,552		5.0%

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The Corporation enters into financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments may include commitments to extend credit and standby letters of credits. Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any conditions established in the contract. Commitments generally have fixed expiration dates or other termination clauses. Since certain commitments are expected to expire without being drawn upon, the total commitment amount does not necessarily represent future cash requirements. For most of the commercial lines of credit, the Corporation has the option to reevaluate the agreement prior to additional disbursements. In the case of credit cards and personal lines of credit, the Corporation can cancel the unused credit facility at any time and without cause. As of March 31, 2020, commitments to extend credit amounted to approximately $1.4 billion, of which $692.4 million relates to credit card loans. Commercial and financial standby letters of credit amounted to approximately $73.9 million. As of the date hereof, the amount of draws from unfunded loan commitments has not increased significantly due to the COVID-19 pandemic.

 

As of March 31, 2020, First BanCorp. and its subsidiaries were defendants in various legal proceedings, claims and other loss contingencies arising in the ordinary course of business. On at least a quarterly basis, the Corporation assesses its liabilities and contingencies in connection with threatened and outstanding legal proceedings, claims and other loss contingencies utilizing the latest information available. For legal proceedings, claims and other loss contingencies where it is both probable that the Corporation will incur a loss and the amount can be reasonably estimated, the Corporation establishes an accrual for the loss. Once established, the accrual is adjusted as appropriate to reflect any relevant developments. For legal proceedings, claims and other loss contingencies where a loss is not probable or the amount of the loss cannot be estimated, no accrual is established.

 

Any estimate involves significant judgment, given the varying stages of the proceedings (including the fact that some of them are currently in preliminary stages), the existence in some of the current proceedings of multiple defendants whose share of liability has yet to be determined, the numerous unresolved issues in the proceedings, and the inherent uncertainty of the various potential outcomes of such proceedings. Accordingly, the Corporation’s estimate will change from time-to-time, and actual losses may be more or less than the current estimate.

 

While the final outcome of legal proceedings, claims and other loss contingencies is inherently uncertain, based on information currently available, management believes that the final disposition of the Corporation’s legal proceedings, claims and other loss contingencies, to the extent not previously provided for, will not have a material adverse effect on the Corporation’s consolidated financial position as a whole.

 

If management believes that, based on available information, it is at least reasonably possible that a material loss (or material loss in excess of any accrual) will be incurred in connection with any legal contingencies, the Corporation discloses an estimate of the possible loss or range of loss, either individually or in the aggregate, as appropriate, if such an estimate can be made, or discloses that an estimate cannot be made. Based on the Corporation’s assessment as of March 31, 2020, no such disclosures were necessary.

 

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NOTE 29 – FIRST BANCORP. (HOLDING COMPANY ONLY) FINANCIAL INFORMATION

 

The following condensed financial information presents the financial position of First BanCorp at the holding company level only as of March 31, 2020 and December 31, 2019, and the results of its operations for the quarters ended March 31, 2020 and 2019:.

 

Statements of Financial Condition
(Unaudited)
	As of March 31,			As of December 31,
	2020			2019
(In thousands)
Assets
Cash and due from banks	$	16,028		$	16,895
Money market investments		6,211			6,211
Other investment securities		285			285
Investment in First Bank Puerto Rico, at equity		2,331,941			2,362,182
Investment in First Bank Insurance Agency, at equity		28,832			24,995
Investment in FBP Statutory Trust I		1,963			1,963
Investment in FBP Statutory Trust II		3,561			3,561
Other assets		782			509
Total assets	$	2,389,603		$	2,416,601
Liabilities and Stockholders' Equity
Liabilities:
Other borrowings	$	184,150		$	184,150
Accounts payable and other liabilities		5,702			4,378
Total liabilities		189,852			188,528
Stockholders' equity		2,199,751			2,228,073
Total liabilities and stockholders' equity	$	2,389,603		$	2,416,601

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Statements of Income
(Unaudited)
	Quarter Ended
	March 31,			March 31,
	2020			2019
	(In thousands)
Income:
Interest income on money market investments	$	33		$	105
Dividend income from banking subsidiaries		13,629			9,500
Other income		61			75
		13,723			9,680
Expense:
Other borrowings		2,032			2,466
Other operating expenses		523			556
		2,555			3,022
Income before income taxes and equity in undistributed
(losses) earnings of subsidiaries		11,168			6,658
Income tax provision		1,382			1,339
Equity in undistributed (losses) earnings of subsidiaries		(7,520)			37,995
Net income	$	2,266		$	43,314
Other comprehensive income, net of tax		42,352			20,510
Comprehensive income	$	44,618		$	63,824

 

 

NOTE 30 – SUBSEQUENT EVENTS

 

Management has reviewed the events occurring through the date of this report, and other than the discussion of the COVID-19 pandemic included in Note 1 – Basis of Presentation and Significant Accounting Policies above and updates on the pending acquisition of BSPR discussed in Note 2 – Potential Acquisition of Banco Santander Puerto Rico above, there were no subsequent events that require additional disclosure or adjustment to amounts reported in the Corporation’s consolidated financial statements as of and for the quarter ended March 31, 2020.

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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF

OPERATIONS (“MD&A”)

 

SELECTED FINANCIAL DATA
		Quarter ended
(In thousands, except for per share and financial ratios)		March 31,
		2020			2019
Condensed Income Statements:
	Total interest income	$	165,264		$	166,472
	Total interest expense		26,615			26,291
	Net interest income		138,649			140,181
	Provision for credit losses		77,366			11,408
	Non-interest income		30,200			22,543
	Non-interest expenses		92,184			90,384
	(Loss) income before income taxes		(701)			60,932
	Income tax (benefit) expense		(2,967)			17,618
	Net income		2,266			43,314
	Net income attributable to common stockholders		1,597			42,645
Per Common Share Results:
	Net earnings per share-basic	$	0.01		$	0.20
	Net earnings per share-diluted	$	0.01		$	0.20
	Cash dividends declared	$	0.05		$	0.03
	Average shares outstanding		216,785			216,338
	Average shares outstanding - diluted		217,314			216,950
	Book value per common share	$	9.92		$	9.50
	Tangible book value per common share (1)	$	9.76		$	9.32
Selected Financial Ratios (In Percent):
Profitability:
	Return on Average Assets		0.07	%		1.43	%
	Interest Rate Spread		4.17			4.45
	Net Interest Margin		4.63			4.92
	Interest Rate Spread - tax equivalent basis (2)		4.36			4.63
	Net Interest Margin - tax equivalent basis (2)		4.82			5.11
	Return on Average Total Equity		0.41			8.43
	Return on Average Common Equity		0.29			8.58
	Average Total Equity to Average Total Assets		17.38			16.97
	Tangible common equity ratio (1)		16.36			16.42
	Dividend payout ratio		678.80			15.22
	Efficiency ratio (3)		54.60			55.29
Asset Quality:
	Allowance for credit losses for loans and finance leases to total loans held for investment		3.24			2.04
	Net charge-offs (annualized) to average loans		0.78			1.10
	Provision for credit losses for loans and finance leases to net charge-offs		421.31			48.34
	Non-performing assets to total assets		2.44			3.35
	Nonaccrual loans held for investment to total loans held for investment		2.35			3.03
	Allowance for credit losses for loans and finance leases to total nonaccrual loans held for investment		137.91			67.36
	Allowance for credit losses for loans and finance leases to total nonaccrual loans held for investment,
	excluding residential real estate loans		327.52			130.56
Other Information:
	Common Stock Price: End of period	$	5.32		$	11.46
		As of March 31, 2020			As of December 31, 2019
Balance Sheet Data:
	Total loans, including loans held for sale	$	9,050,993		$	9,041,682
	Allowance for credit losses for loans and finance leases		292,774			155,139
	Money market and investment securities, net of allowance for credit losses for debt securities		2,198,782			2,398,157
	Goodwill and other intangible assets		34,958			35,671
	Deferred tax asset, net		307,829			264,842
	Total assets		13,047,977			12,611,266
	Deposits		9,562,313			9,348,429
	Borrowings		1,109,150			854,150
	Total preferred equity		36,104			36,104
	Total common equity		2,114,531			2,185,205
	Accumulated other comprehensive income, net of tax		49,116			6,764
	Total equity		2,199,751			2,228,073
__________________

(1)Non-GAAP financial measures (as defined below). Refer to “Capital” below for additional information about the components and a reconciliation of these measures.

(2)On a tax-equivalent basis and excluding the changes in the fair value of derivative instruments (see “Net Interest Income" below for a reconciliation of these non-GAAP financial measures).

(3)Non-interest expenses to the sum of net interest income and non-interest income.

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The following MD&A relates to the accompanying unaudited consolidated financial statements of First BanCorp. (the “Corporation,” “we,” “us,” “our, or “First BanCorp.”) and should be read in conjunction with such financial statements and the notes thereto and our Annual Report on Form 10-K for the year ended December 31, 2019. This section also presents certain financial measures that are not based on generally accepted accounting principles in the United States (“GAAP”). See “Basis of Presentation” below for information about why the non-GAAP financial measures are being presented and the reconciliation of the non-GAAP financial measures for which the reconciliation is not presented earlier.

 

EXECUTIVE SUMMARY

 

First BanCorp. is a diversified financial holding company headquartered in San Juan, Puerto Rico offering a full range of financial products to consumers and commercial customers through various subsidiaries. First BanCorp. is the holding company of FirstBank Puerto Rico (“FirstBank” or the “Bank”) and FirstBank Insurance Agency. Through its wholly-owned subsidiaries, the Corporation operates in Puerto Rico, the United States Virgin Islands (“USVI”) and the British Virgin Islands (“BVI”), and the State of Florida, concentrating on commercial banking, residential mortgage loans, finance leases, credit cards, personal loans, small loans, auto loans, and insurance agency activities.

 

RECENT DEVELOPMENTS

 

COVID-19 Pandemic

 

The novel coronavirus (“COVID-19”) pandemic has had, and continues to have, an adverse effect on the Corporation’s business. The COVID-19 pandemic has severely restricted the level of economic activity in the markets in which the Corporation operates. Each of the jurisdictions in which the Corporation operates has issued stay-at-home and non-essential business lockdown orders. Puerto Rico’s Governor issued a stay-at-home order on March 15, 2020, which she subsequently extended until May 3, 2020. In addition to mandating that every citizen stay at home except for essential activities, the order set out a nightly curfew and a lockdown of non-essential businesses. Since March 31, 2020, the Governor instituted additional restrictive measures, including limiting travel by car, requiring the use of protective equipment, such as masks, the maintenance of a distance of at least six feet between citizens, and a curfew between 7 p.m. to 5 a.m. Although some of these restrictions have been modified, the full lockdown of non-essential businesses continued until May 3, 2020 and the stay-at-home order and the curfew was extended until May 25, 2020. On May 1, 2020, Puerto Rico’s Governor announced a gradual reopening of the economy, allowing the reopening on May 4, 2020 of sectors such as mortgage financial services, insurance, and professional services including lawyers, engineers, accountants and dental offices. On May 11, 2020, the construction and manufacturing sectors will be allowed to resume operations. Other sectors, such as retail trade and auto sales, are expected to be allowed to reopen in mid to late May 2020, depending on how the COVID-19 trends in Puerto Rico cases develop over the upcoming weeks. As of May 2, 2020, 1,757 people in 73 municipalities in Puerto Rico had tested positive for COVID-19 and 95 people’ deaths were related to the illness according to data provided by the Puerto Rico government. The Corporation’s businesses in the other jurisdictions in which it operates have also been adversely affected. On March 26, 2020, the Florida Governor issued a stay-at-home order, and the state is expected to reopen essential operations through a phase-in process beginning on May 4, 2020. Additionally, in the USVI, the government issued a stay-at-home order on March 23, 2020, and the territory announced a plan for a phased reopening of non-essential businesses beginning on May 4, 2020.

 

In light of the restrictions imposed by Puerto Rico, Florida and the Virgin Islands, the Corporation modified its operations and the way it serves its customers. For instance, the Corporation has implemented various steps to protect its employees, consistent with guidance from federal and local authorities, such as requiring that a majority of support staff work remotely modifying the hours and staffing of its branch locations and implementing stricter safety and cleaning protocols. The Corporation’s branch transactions and ATM volumes have declined but its digital and mobile banking activities have increased. Consistent with regulatory guidance that endorses constructive arrangements with borrowers affected by COVID-19, the Corporation adopted payment deferral and relief programs in March 2020. In addition, the Corporation has waived late payment fees on loans and halted foreclosures and repossessions. Furthermore, the Corporation has participated in the Small Business Administration’s (“SBA”) Paycheck Protection Program (“PPP”) under which it has received approval from the SBA for loans to clients and small businesses in an aggregate amount of $350.6 million as of May 7, 2020, of which approximately $313.2 million have been funded.

 

 

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The COVID-19 pandemic, and governmental, regulatory authorities, and societal responses have also affected the Corporation’s financial results. The COVID-19 pandemic and its associated impacts on trade (including supply chains and export levels), travel, underemployment and unemployment, consumer spending, residential and commercial construction and other economic activities has resulted in less economic activity, lower equity market valuations and significant volatility and disruption in financial markets. In response to the COVID-19 pandemic, various governmental and regulatory authorities have enacted measures and implemented programs designed to stimulate the economy and provide economic assistance to those affected by COVID-19 such as the enactment of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Some of the provisions of the CARES Act may improve the ability of impacted borrowers to pay their loans, including direct cash payments to eligible taxpayers below specified income limits, including Puerto Rico residents, expanded unemployment insurance benefits and eligibility, and relief designed to prevent layoffs and business closures at small businesses. On March 3, 2020, the Federal Reserve Board (the “FED”) reduced the target federal funds rate by 50 basis points, followed by an additional reduction of 100 basis points on March 16, 2020. In addition, the Puerto Rico Government and the PROMESA oversight board have allocated more than $900 million in relief intended to stimulate the Puerto Rico economy and to assist individuals and local businesses. However, these reductions in interest rates and economic uncertainties have affected and might further adversely affect the Corporation’s results of operations.

 

As a result of the effect of the COVID-19 pandemic on forecasted economic and market conditions, the Corporation’s financial results for the first quarter of 2020 included a reserve build of $59.8 million (i.e., the amount by which the provision for credit losses of $77.4 million exceeds net charge-offs of $17.6 million). As of May 07, 2020, the Corporation had under deferred repayment arrangements residential mortgage loans totaling $931.5 million, consumer loans totaling $1.0 billion, and commercial and construction loans totaling $1.8 billion, or 42% of its loan portfolio (see “Financial Condition and Operating Data Analysis” – Early Delinquency discussion, for additional information). In addition, the stay-at-home and lock down orders have resulted in a reduction of the Corporation’s transaction fee income, such as that from credit and debit cards, automated teller machines (ATMs), and point-of-sale transactions, as well as the Corporation’s volume of loan originations and closings. Further, the Corporation has incurred additional expenses, including providing incentives to employees working in its branches and increased expenses in cleaning and communications with customers. Notwithstanding, as of March 31, 2020, the Corporation’s and the Bank’s capital ratios were well in excess of all regulatory capital requirements and the Corporation maintained high liquidity levels with the cash and liquid securities to total assets ratio exceeding 17.5%, compared to 15.8% as of December 31, 2019. As of May 7, 2020, the Corporation has approximately $383.7 million in available unused lines at the Federal Home Loan Bank (“FHLB”) and the Primary Credit FED Discount Window Program has been activated as an alternate source of liquidity with approximately $973.2 million of availability, if needed. While management believes that we have sufficient capital to withstand an extended economic recession brought about by the COVID-19 pandemic, our financial results and regulatory capital ratios could be adversely impacted by further credit losses and we are unable to predict the extent, nature or duration of the effects of COVID-19 on our results of operations and financial condition at this time.

Update on Potential Acquisition of Banco Santander Puerto Rico

 

With respect to the Corporation’s announced transaction to acquire Banco Santander Puerto Rico (“BSPR”), the Corporation continues to work with the applicable regulators in their review of the transaction. Taking into account the impact of the COVID-19 pandemic, the Corporation now believes it is unlikely that all regulatory approvals necessary to close the transaction will be received by the middle of 2020 as previously expected. The Corporation continues to cooperate with its regulators and to provide additional requested information as part of the application process.

 

The Form 8-K filed by the Corporation with the Securities and Exchange Commission on October 22, 2019, which includes the stock purchase agreement as an exhibit, provides additional information about the conditions to completing the transaction.

 

 

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OVERVIEW OF RESULTS OF OPERATIONS

 

First BanCorp.'s results of operations depend primarily on its net interest income, which is the difference between the interest income earned on its interest-earning assets, including investment securities and loans, and the interest expense incurred on its interest-bearing liabilities, including deposits and borrowings. Net interest income is affected by various factors, including: the interest rate environment; the volumes, mix and composition of interest-earning assets and interest-bearing liabilities; and the re-pricing characteristics of these assets and liabilities. The Corporation's results of operations also depend on the provision for credit losses, non-interest expenses (such as personnel, occupancy, the deposit insurance premium and other costs), non-interest income (mainly service charges and fees on deposits, and insurance income), gains (losses) on sales of investments, gains (losses) on mortgage banking activities, and income taxes.

 

The Corporation had net income of $2.3 million, or $0.01 per diluted common share, for the quarter ended March 31, 2020, compared to $43.3 million, or $0.20 per diluted common share, for the same period in 2019.

 

The key drivers of the Corporation’s GAAP financial results for the quarter ended March 31, 2020, include the following:

 

 Net interest income for the quarter ended March 31, 2020 was $138.6 million, compared to $140.2 million for the first quarter of 2019. The decrease of $1.6 million was driven primarily by: (i) a $5.1 million decrease in interest income on commercial and construction loans, primarily associated with the downward repricing of variable-rate commercial loans and lower collections of interest payments on nonaccrual loans; (ii) a $3.2 million decrease in interest income on residential mortgage loans, mainly due to a $231.6 million decrease in the average balance of this portfolio; (iii) a $0.6 million decrease in interest income from interest-bearing cash balances, primarily deposits maintained at the Federal Reserve Bank of New York (“New York FED”), due to decreases in the Federal Funds target rate; (iv) a $0.3 million increase in total interest expense, driven by the effect of a $555.4 million increase in the average balance of interest-bearing non-brokered deposits, partially offset by reductions in the average balance of FHLB advances and the downward repricing of variable rate repurchase agreements and junior subordinated debentures; and (v) a $0.1 million decrease in interest income on investment securities mainly related to a $1.3 million increase in the premium amortization expense on U.S. agencies mortgage-backed securities (“MBS”), almost entirely offset by an increase of $0.8 million in interest income due to a $140.8 million increase in the average balance of investment securities, and a $0.3 million increase related to the accelerated discount accretion on U.S. agencies bonds called prior to maturity in the first quarter of 2020. These decreases were partially offset by a $7.8 million increase in interest income on consumer loans.

 

The net interest margin decreased to 4.63% for the first quarter of 2020, compared to 4.92% for the same period a year ago, primarily due to the aforementioned downward repricing of variable-rate commercial loans, as well as interest-bearing cash balances attributable to the effect of the lower interest rate environment, and the increase in the premium amortization expense on U.S. agencies MBS. See “Net Interest Income” below for additional information.

 

 The provision for credit losses on loans, finance leases, and debt securities increased by $66.0 million to $77.4 million for the first quarter of 2020, compared to $11.4 million for the same period in 2019, driven by the reserve build of $59.8 million in the first quarter of 2020 primarily in connection with the effect of the COVID-19 pandemic on forecasted economic and market conditions. Effective January 1, 2020, the Corporation adopted the current expected credit loss impairment model (“CECL”) required by the Accounting Standards Codification (“ASC”) Topic 326 (“ASC 326”), which replaced the incurred loss methodology. ASC 326 does not require restatement of comparative period financial statements; as such, results for the first quarter of 2020 reflect the adoption of ASC 326, while prior periods reflect results under the previously required incurred loss methodology. The adoption of ASC 326 resulted in a cumulative increase of approximately $93.2 million in the total allowance for credit losses (“ACL”) as of January 1, 2020.

 

Net charge-offs totaled $17.6 million for the first quarter of 2020, or 0.78% of average loans on an annualized basis, compared to $24.5 million, or 1.10% of average loans for the same period in 2019. The decrease consisted of a $7.6 million decline in net charge-offs taken on commercial and construction loans and a $1.8 million decrease in net charge-offs taken on residential mortgage loans, partially offset by an increase of $2.5 million in net charge-offs taken on consumer loans. The decrease in net charge-offs on commercial and construction loans primarily reflects the effect of a $5.7 million charge-off taken in the first quarter of 2019 on a commercial and industrial loan in the Puerto Rico region. See “Provision for credit losses” and “Risk Management” below for analyses of the allowance for credit losses and non-performing assets and related ratios.

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 The Corporation recorded non-interest income of $30.2 million for the first quarter of 2020, compared to $22.5 million for the same period in 2019. The increase was primarily driven by an $8.2 million gain recorded on the sale of approximately $275.6 million of available-for-sale U.S. agencies MBS, and a $0.4 million increase in insurance contingent commissions. These variances were partially offset by a $0.6 million decrease in transactional fee income from credit and debit cards, ATMs, and point-of-sale (“POS”) and merchant-related activity as a resulted of reduced transactions caused by quarantines and lockdowns of non-essential businesses in connection with the COVID-19 pandemic. See “Non-Interest Income” below for additional information.

 

 Non-interest expenses for the first quarter of 2020 were $92.2 million compared to $90.4 million for the same period in 2019. The increase was primarily related to: (i) a $3.6 million increase in employees’ compensation and benefits, primarily reflecting the effect in the first quarter of 2019 of a $2.3 million expense recovery related to an employee retention benefit payment received by the Bank under the Disaster Tax Relief and Airport Extension Act, as well as increases related to salary merit increases that took effect in July 2019; (ii) a $1.5 million increase in professional fees, primarily related to outsourced technology fees; and (iii) merger and restructuring costs of $0.8 million in connection with the pending acquisition of BSPR.

 

These increases were partially offset by: (i) a $2.6 million decrease in losses from other real estate owned (“OREO”) operations, primarily related to a $2.0 million decrease in write-downs to the value of OREO properties; and (ii) a $0.9 million decrease in occupancy and equipment costs, primarily related to insurance recoveries of $0.8 million recorded in the first quarter of 2020 in connection with hurricane-related costs. See “Non-Interest Expenses” below for additional information.

 

 For the first quarter of 2020, the Corporation recorded an income tax benefit of $3.0 million, compared to an income tax expense of $17.6 million for the same period in 2019. The variance was mostly attributable to an income tax benefit of approximately $20.0 million recorded in the first quarter of 2020 in connection with higher charges to the provision for credit losses for loans and debt securities due to the effect of the COVID-19 pandemic on forecasted economic conditions. As of March 31, 2020, the Corporation had a deferred tax asset of $307.8 million (net of a valuation allowance of $88.5 million, including a valuation allowance of $52.7 million against the deferred tax assets of the Corporation’s banking subsidiary, FirstBank). See “Income Taxes” below for additional information. On January 1, 2020, the Corporation recognized an additional $31.3 million in deferred tax assets in connection with the transitional adjustment resulting from the adoption of the CECL accounting standard.

 

 As of March 31, 2020, total assets were $13.0 billion, an increase of $436.7 million from December 31, 2019. The increase was primarily related to a $443.6 million increase in cash and cash equivalents, attributable, among other things, to a $213.9 million growth in total deposits and proceeds of $200 million received from the cancellation of reverse repurchase agreements that were previously offset in the statement of financial condition against variable-rate repurchase agreements in accordance with ASC Topic 210-20-45-11. In addition, there was a net increase of $84.8 million in investment securities and account receivables from unsettled investment sales, as well as increases of $43.0 million in net deferred tax assets, and $9.3 million in total loans. These increases were partially offset by a $137.6 million increase in the ACL of loans and finance leases in connection with the cumulative effect of adopting ASC 326 on January 1, 2020 and the charge to the provision during the first quarter of 2020. See “Financial Condition and Operating Data Analysis” below for additional information.

 

 As of March 31, 2020, total liabilities were $10.8 billion, an increase of $465.0 million from December 31, 2019. The increase was mainly due to a $200 million increase in the reported balance of repurchase agreements, reflecting the effect of the aforementioned cancellation of reverse repurchase agreements that were previously offset against variable-rate repurchase agreements in the consolidated statement of financial condition, a $91.2 million increase in total deposits, excluding brokered deposits and government deposits, a $100.9 million increase in non-maturity brokered deposits, and a $60.0 million increase related to short-term funding obtained from the FED’s Primary Credit FED Discount Window Program during the first quarter 2020. See “Risk Management – Liquidity Risk and Capital Adequacy” below for additional information about the Corporation’s funding sources.

 

 

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 As of March 31, 2020, the Corporation’s stockholders’ equity was $2.2 billion, a decrease of $28.3 million from December 31, 2019. The decrease was driven by the $62.3 million transition adjustment related to the adoption of CECL recorded against beginning retained earnings, and common and preferred stock dividends declared in the first quarter of 2020 totaling $11.6 million, partially offset by the earnings generated in the first quarter, and an increase of approximately $50 million in the fair value of available-for-sale investment securities recorded as part of other comprehensive income. The Corporation’s common equity tier 1 capital, tier 1 capital, total capital and leverage ratios under the Basel III rules were 21.79%, 22.19%, 25.42% and 15.98%, respectively, as of March 31, 2020, compared to common equity tier 1 capital, tier 1 capital, total capital and leverage ratios of 21.60%, 22.00%, 25.22%, and 16.15%, respectively, as of December 31, 2019. As permitted by the regulatory capital framework, the Corporation elected the option to delay for two years the estimate of the CECL methodology’s effect on regulatory capital, relative to the incurred loss methodology’s effect on capital, followed by a three-year transition period. See “Risk Management – Capital” below for additional information.

 

 Total loan production, including purchases, refinancings, renewals and draws from existing revolving and non-revolving commitments, but excluding the utilization activity on outstanding credit cards, was $802.6 million for the quarter ended March 31, 2020, compared to $881.5 million for the same period in 2019. The decrease consisted of reductions of $35.2 million, $31.8 million, and $11.9 million in residential mortgage loan originations, consumer loan originations, and commercial and constructions loan originations, respectively. These reductions reflect the effect of disruptions in the loan underwriting and closing process caused by the COVID-19 pandemic, including as a result of quarantines and the lockdown of non-essential businesses measures that began in Puerto Rico on March 16, 2020.

 

 Total non-performing assets were $317.8 million as of March 31, 2020, an increase of $0.4 million from December 31, 2019. The increase was primarily related to consumer and residential mortgage loans that migrated to nonaccrual status prior to the deferral payment programs established by the Corporation to assist borrowers affected by the COVID-19 pandemic, partially offset by reductions in commercial and construction nonaccrual loans. See “Risk Management – Non-Accruing and Non-Performing Assets” below for additional information.

 

 Adversely classified commercial and construction loans decreased by $103.8 million to $116.7 million as of March 31, 2020 compared to December 31, 2019. The decrease was driven by the upgrade in the credit risk classification of a $117.5 million commercial mortgage loan relationship in the Puerto Rico region.

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The Corporation’s financial results for the first quarter of 2020 and 2019 included the following items that management believes are not reflective of core operating performance, are not expected to reoccur with any regularity or may reoccur at uncertain times and in uncertain amounts (the “Special Items”):

Quarter ended March 31, 2020

 An $8.2 million gain on sales of approximately $275.6 million of U.S. agencies MBS executed in the latter part of March. The gain, realized at the tax-exempt international banking entity subsidiary, had no effect in the income tax expense recorded in the first quarter of 2020.

 A $1.2 million ($0.7 million after-tax) benefit resulting from insurance recoveries associated with hurricane-related expenses incurred, primarily in the Puerto Rico region.

 Merger and restructuring costs of $0.8 million ($0.5 million after-tax) in connection with the previously announced stock purchase agreement with Santander Holdings USA, Inc. to acquire BSPR and related restructuring initiatives. Merger and restructuring costs in the first quarter of 2020 primarily included consulting, legal, and other pre-conversion related efforts associated with the pending acquisition of BSPR.

 Costs of $0.4 million ($0.2 million after-tax) related to the COVID-19 pandemic response efforts, primarily additional cleaning costs and communications with customers.

Quarter ended March 31, 2019

 A $6.4 million ($4.0 million after-tax) positive effect on earnings related to loan loss reserve releases resulting from revised estimates of the hurricane-related qualitative reserves associated with the effects of Hurricanes Irma and Maria, primarily related to consumer and commercial loans.

 A $2.3 million expense recovery related to an employee retention benefit payment (the “Benefit”) received by the Bank under the Disaster Tax Relief and Airport Extension Act of 2017, as amended (the “Act”). The Benefit was recorded as an offset to the employees’ compensation and benefits expenses recognized in the first quarter of 2019 and was not treated as taxable income by virtue of the Act.

 

	The following table reconciles for the first quarter of 2020 and 2019 the reported net income to adjusted net (loss) income, a non-GAAP financial measure that excludes the Special Items identified above:
		Quarter ended March 31,
		2020			2019
	(In thousands)
Net income, as reported (GAAP)		$	2,266		$	43,314
Adjustments:
Merger and restructuring costs			845			-
Hurricane-related loan loss reserve release			-			(6,425)
Employee retention benefit - Disaster Tax Relief and Airport Extension Act of 2017			-			(2,317)
	Benefit from hurricane-related insurance recoveries		(1,153)			-
Gain on sales of investment securities			(8,247)			-
COVID-19 pandemic-related expenses			363			-
Income tax impact of adjustments (1)			(21)			2,409
Adjusted net (loss) income (Non-GAAP)		$	(5,947)		$	36,981

(1)See "Basis of Presentation" below for the individual tax impact related to reconciling items.

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Critical Accounting Policies and Practices

 

The accounting principles of the Corporation and the methods of applying these principles conform to GAAP. The Corporation’s critical accounting policies relate to: 1) the allowance for credit losses; 2) income taxes; 3) the classification and values of financial instruments; and 4) income recognition on loans. These critical accounting policies involve judgments, estimates and assumptions made by management that affect the amounts recorded for assets, liabilities and contingent liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from estimates, if different assumptions or conditions prevail. Certain determinations inherently require greater reliance on the use of estimates, assumptions, and judgments and, as such, have a greater possibility of producing results that could be materially different than those originally reported.

 

The Corporation’s critical accounting policies are described in Management’s Discussion and Analysis of Financial Condition and Results of Operations included in First BanCorp.’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019 (the “2019 Annual Report on Form 10-K”). In connection with our adoption of CECL on January 1, 2020, the Corporation has updated its critical accounting policy for the allowance for credit losses.

 

Allowance for Credit Losses

 

The Corporation maintains an ACL for loans and finance leases, which is management’s estimate of the expected credit losses in the loan portfolio, at the balance sheet date, excluding loans held for sale. Additionally, the Corporation maintains an allowance for credit losses for debt securities classified as either held-to-maturity (HTM) or available-for-sale (AFS), and other off-balance sheet credit exposures (e.g., unfunded loan commitments). In connection with the adoption of CECL, the Corporation updated its approach for estimating expected credit losses, which includes new areas for management judgment, described more fully below, and updated its accounting policies. For more information, see Note 1 – Basis of Presentation and Significant Accounting Policies to the accompanying unaudited consolidated financial statements in this Form 10-Q. For loans and finance leases, unfunded loan commitments, and HTM debt securities, the ACL is measured based on the remaining contractual term of the financial asset exposures adjusted, as appropriate, for prepayments and permitted extension options using historical experience, current conditions, and forecasted information. For AFS debt securities, the ACL is measured using a discounted cash flow approach and is limited to the difference between the fair value of the security and its amortized cost. Changes in the ACL and, therefore, in the related provision for credit losses can materially affect net income. In applying the judgment and review required to determine the ACL, management considerations include the evaluation of past events, historical experience, changes in economic forecasts and conditions, customer behavior, collateral values, and the length of the initial loss forecast period, and other influences. From time to time, changes in economic factors or assumptions, business strategy, products or product mix, or debt security investment strategy, may result in a corresponding increase or decrease in our ACL.

 

The Corporation’s methodology for estimating the ACL under CECL for applicable loans and debt securities includes the following key components:

 

 Forecasted economic variables, such as, unemployment rate, home and commercial real estate prices, and gross domestic product (GDP), are used to estimate expected credit losses. The Corporation has currently set an initial forecast period (“reasonable and supportable period”) of 2 years and a reversion period of up to 3 years, utilizing a straight-line approach and reverting back to the historical macroeconomic mean for Puerto Rico and the Virgin Islands regions. For the Florida region, the methodology considers a reasonable and supportable forecast period and an implicit reversion towards the historical trend that varies for each macroeconomic variable, achieving the steady state by year 5.

 

 After the reversion period, a historical loss forecast period covering the remaining contractual life, adjusted for prepayments, is used based on the change in key historical economic variables during representative historical expansionary and recessionary periods.

 

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 The ACL for loans, unfunded loan commitments, and HTM debt securities is primarily measured based on a probability of default (PD)/loss given default (LGD) modeled approach, The current fair value of collateral is utilized to assess the expected credit losses when a financial asset is considered to be collateral dependent.

 

 The ACL on a troubled debt restructured (“TDR”) loan is generally measured using a discounted cash flow method unless they are collateral dependent and measured based on the fair value of the collateral. The discounted cash flow methods will provide the estimated life-time credit losses. For credit card, personal, and nonaccrual auto loans and finance leases modified in a TDR, the ACL is measured using the same methodologies as those used for all other loans in those portfolios.

 

 The remaining contractual term of a loan is adjusted for expected prepayments, as appropriate. The contractual term excludes expected extensions, renewals, and modifications unless either of the following applies: the Corporation has a reasonable expectation at the reporting date that a TDR will be executed with an individual borrower or the extension or renewal options are included in the original or modified contract at the reporting date and are not unconditionally cancellable by the Corporation.

 

RESULTS OF OPERATIONS

 

Net Interest Income

 

Net interest income is the excess of interest earned by First BanCorp. on its interest-earning assets over the interest incurred on its interest-bearing liabilities. First BanCorp.’s net interest income is subject to interest rate risk due to the repricing and maturity mismatch of the Corporation’s assets and liabilities. Net interest income for the quarter ended March 31, 2020 was $138.6 million, compared to $140.2 million for the comparable period in 2019. On a tax-equivalent basis and excluding the changes in the fair value of derivative instruments, net interest income for the quarter ended March 31, 2020 was $144.3 million, compared to $145.5 million for the comparable period in 2019.

 

The following tables include a detailed analysis of net interest income for the indicated periods. Part I presents average volumes (based on the average daily balance) and rates on an adjusted tax-equivalent basis and Part II presents, also on an adjusted tax-equivalent basis, the extent to which changes in interest rates and changes in the volume of interest-related assets and liabilities have affected the Corporation’s net interest income. For each category of interest-earning assets and interest-bearing liabilities, the tables provide information on changes in (i) volume (changes in volume multiplied by prior period rates), and (ii) rate (changes in rate multiplied by prior period volumes). The Corporation has allocated rate-volume variances (changes in rate multiplied by changes in volume) to either the changes in volume or the changes in rate based upon the effect of each factor on the combined totals.

 

 

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The net interest income is computed on an adjusted tax-equivalent basis and excluding the change in the fair value of derivative instruments. For the definition and reconciliation of this non-GAAP financial measure, refer to the discussion in “Basis of Presentation” below.

Part I
		Average Volume						Interest income (1) / expense						Average Rate (1)
	Quarter ended March 31,	2020			2019			2020			2019			2020			2019
	(Dollars in thousands)
	Interest-earning assets:
	Money market and other short-term investments	$	770,708		$	490,045		$	2,262		$	2,829		1.18	%		2.34	%
	Government obligations (2)		481,967			765,250			5,301			7,476		4.42	%		3.96	%
	MBS		1,763,813			1,333,752			14,009			11,897		3.19	%		3.62	%
	FHLB stock		33,390			41,930			596			696		7.18	%		6.73	%
	Other investments		5,668			3,078			11			6		0.78	%		0.79	%
	Total investments (3)		3,055,546			2,634,055			22,179			22,904		2.92	%		3.53	%
	Residential mortgage loans		2,890,810			3,122,372			38,655			41,819		5.38	%		5.43	%
	Construction loans		122,120			85,485			1,881			1,329		6.20	%		6.31	%
	Commercial and Industrial and Commercial mortgage loans		3,679,470			3,724,486			47,972			53,282		5.24	%		5.80	%
	Finance leases		421,740			341,789			7,919			6,386		7.55	%		7.58	%
	Consumer loans		1,883,278			1,638,742			52,310			46,078		11.17	%		11.40	%
	Total loans (4) (5)		8,997,418			8,912,874			148,737			148,894		6.65	%		6.78	%
	Total interest-earning assets	$	12,052,964		$	11,546,929		$	170,916		$	171,798		5.70	%		6.03	%
	Interest-bearing liabilities:
	Brokered CDs	$	429,106		$	523,258		$	2,452		$	2,687		2.30	%		2.08	%
	Other interest-bearing deposits		6,580,393			6,024,953			17,202			14,805		1.05	%		1.00	%
	Loans payable		4,396			-			3			-		0.27	%		-	%
	Other borrowed funds		440,194			327,001			3,950			5,014		3.61	%		6.22	%
	FHLB advances		555,110			740,000			3,008			3,785		2.18	%		2.07	%
	Total interest-bearing liabilities	$	8,009,199		$	7,615,212		$	26,615		$	26,291		1.34	%		1.40	%
	Net interest income							$	144,301		$	145,507
	Interest rate spread													4.36	%		4.63	%
	Net interest margin													4.82	%		5.11	%

(1)On an adjusted tax-equivalent basis. The Corporation estimated the adjusted tax-equivalent yield by dividing the interest rate spread on exempt assets by 1 less the Puerto Rico statutory tax rate of 37.5% and adding to it the cost of interest-bearing liabilities. The tax-equivalent adjustment recognizes the income tax savings when comparing taxable and tax-exempt assets. Management believes that it is a standard practice in the banking industry to present net interest income, interest rate spread and net interest margin on a fully tax-equivalent basis. Therefore, management believes these measures provide useful information to investors by allowing them to make peer comparisons. The Corporation excludes changes in the fair value of derivatives from interest income and interest expense because the changes in valuation do not affect interest received or paid.

(2)Government obligations include debt issued by government-sponsored agencies.

(3)Unrealized gains and losses on available-for-sale securities are excluded from the average volumes.

(4)Average loan balances include the average of nonaccrual loans.

(5)Interest income on loans includes $2.2 million and $2.1 million for the first quarter of 2020 and 2019, respectively, of income from prepayment penalties and late fees related to the Corporation’s loan portfolio.

 

 

 

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Part II
		Quarter ended March 31,
		2020 compared to 2019
		Increase (decrease)
		Due to:
	(In thousands)	Volume			Rate			Total
	Interest income on interest-earning assets:
	Money market and other short-term investments	$	1,249		$	(1,816)		$	(567)
	Government obligations		(2,932)			757			(2,175)
	MBS		3,706			(1,594)			2,112
	FHLB stock		(145)			45			(100)
	Other investments		5			-			5
	Total investments		1,883			(2,608)			(725)
	Residential mortgage loans		(2,792)			(372)			(3,164)
	Construction loans		576			(24)			552
	Commercial and Industrial and Commercial mortgage loans		(593)			(4,717)			(5,310)
	Finance leases		1,535			(2)			1,533
	Consumer loans		7,077			(845)			6,232
	Total loans		5,803			(5,960)			(157)
	Total interest income		7,686			(8,568)			(882)
	Interest expense on interest-bearing liabilities:
	Brokered CDs		(504)			269			(235)
	Other interest-bearing deposits		1,501			896			2,397
	Loans payable		3			-			3
	Other borrowed funds		1,414			(2,478)			(1,064)
	FHLB advances		(965)			188			(777)
	Total interest expense		1,449			(1,125)			324
	Change in net interest income	$	6,237		$	(7,443)		$	(1,206)

 

Portions of the Corporation’s interest-earning assets, mostly investments in obligations of some U.S. government agencies and U.S. government sponsored entities (“GSEs”), generate interest that is exempt from income tax, principally in Puerto Rico. Also, interest and gains on sales of investments held by the Corporation’s international banking entities (“IBEs”) are tax-exempt under Puerto Rico tax law (see “Income Taxes” below for additional information). To facilitate the comparison of all interest data related to these assets, the interest income has been converted to an adjusted tax equivalent basis. The Corporation estimated the tax equivalent yield by dividing the interest rate spread on exempt assets by 1 less the Puerto Rico statutory tax rate (37.5%) and adding to it the average cost of interest-bearing liabilities. The computation considers the interest expense disallowance required by Puerto Rico tax law.

 

Management believes that the presentation of net interest income excluding the effects of the changes in the fair value of the derivative instruments (“valuations”) provides additional information about the Corporation’s net interest income and facilitates comparability and analysis from period to period. The changes in the fair value of the derivative instruments have no effect on interest due or interest earned on interest-bearing liabilities or interest-earning assets, respectively.

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The following table reconciles net interest income in accordance with GAAP to net interest income, excluding valuations, and net interest income on an adjusted tax-equivalent basis for the indicated periods. The table also reconciles net interest spread and net interest margin on a GAAP basis to these items excluding valuations, and on an adjusted tax-equivalent basis:
	Quarter Ended March 31,
(Dollars in thousands)	2020				2019
Interest Income - GAAP	$	165,264			$	166,472
Unrealized loss on derivative instruments		-				4
Interest income excluding valuations		165,264				166,476
Tax-equivalent adjustment		5,652				5,322
Interest income on a tax-equivalent basis and excluding valuations		170,916				171,798
Interest Expense - GAAP		26,615				26,291
Net interest income - GAAP	$	138,649			$	140,181
Net interest income excluding valuations	$	138,649			$	140,185
Net interest income on a tax-equivalent basis and excluding valuations	$	144,301			$	145,507
Average Balances
Loans and leases	$	8,997,418			$	8,912,874
Total securities, other short-term investments and interest-bearing cash balances		3,055,546				2,634,055
Average Interest-Earning Assets	$	12,052,964			$	11,546,929
Average Interest-Bearing Liabilities	$	8,009,199			$	7,615,212
Average Yield/Rate
Average yield on interest-earning assets - GAAP		5.51	%			5.85	%
Average rate on interest-bearing liabilities - GAAP		1.34	%			1.40	%
Net interest spread - GAAP		4.17	%			4.45	%
Net interest margin - GAAP		4.63	%			4.92	%
Average yield on interest-earning assets excluding valuations		5.51	%			5.85	%
Average rate on interest-bearing liabilities		1.34	%			1.40	%
Net interest spread excluding valuations		4.17	%			4.45	%
Net interest margin excluding valuations		4.63	%			4.92	%
Average yield on interest-earning assets on a tax-equivalent basis
and excluding valuations		5.70	%			6.03	%
Average rate on interest-bearing liabilities		1.34	%			1.40	%
Net interest spread on a tax-equivalent basis and excluding valuations		4.36	%			4.63	%
Net interest margin on a tax-equivalent basis and excluding valuations		4.82	%			5.11	%

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Interest income on interest-earning assets primarily represents interest earned on loans held for investment and investment securities.

 

Interest expense on interest-bearing liabilities primarily represents interest paid on brokered CDs, retail deposits, repurchase agreements, advances from the FHLB and junior subordinated debentures.

 

Unrealized gains or losses on derivatives represent changes in the fair value of derivatives, primarily interest rate caps used for protection against rising interest rates.

 

For the quarter ended March 31, 2020, net interest income decreased $1.6 million to $138.6 million, compared to $140.2 million for the same period in 2019. The $1.6 million decrease in net interest income was primarily due to:

 

 A $5.1 million decrease in interest income on commercial and construction loans, primarily related to the downward repricing of variable-rate commercial and construction loans and lower collections of interest payments on nonaccrual loans. As of March 31, 2020, the interest rate on approximately 44% of the Corporation’s commercial and construction loans was based upon LIBOR indexes and 20% was based upon the Prime rate index. For the first quarter of 2020, the average one-month LIBOR rate declined 109 basis points, the average three-month LIBOR rate declined 115 basis points, and the average Prime rate declined 109 basis points compared to the average rates for such indexes for the first quarter of 2019.

 

 A $3.2 million decrease in interest income on residential mortgage loans, primarily related to a $231.6 million decrease in the average balance of this portfolio.

 

 A $0.6 million decrease in interest income from interest-bearing cash balances, which consisted primarily of deposits maintained at the New York FED. Balances at the New York FED earned 0.10% as of March 31, 2020 compared to 2.40% as of March 31, 2019, a decrease attributable to declines in the Federal Funds target rate. The decrease in rate was partially offset by a $280.7 million increase in the average balance of interest-bearing cash balances.

 

 A $0.3 million increase in interest expense, primarily due to a $2.2 million increase in interest expense on interest-bearing deposits, driven by both a $555.4 million increase in the average balance of non-brokered deposits and an increase in the average interest rates paid on retail CDs. This was partially offset by: (i) a $0.8 million decrease in interest expense on FHLB advances, primarily related to a $184.9 million decrease in the average balance; (ii) a $0.6 million decrease in interest expense on repurchase agreement primarily related to the downward repricing of variable-rate repurchase agreements, and (iii) a $0.4 million decrease in interest expense related to the downward repricing of floating-rate junior subordinated debentures.

 

 A $0.1 million decrease in interest income on investment securities, mainly related to a $1.3 million increase in the premium amortization expense on U.S. agencies MBS, almost entirely offset by an increase of $0.8 million in connection with a $140.8 million increase in the average balance of investment securities, and a $0.3 million increase related to the accelerated discount accretion on U.S. agencies bonds called prior to maturity in the first quarter of 2020. Given the stimulus actions taken by the federal government to contain the economic fallout from the COVID-19 pandemic, market interest rates remain at low levels, potentially triggering accelerated exercise of call options and prepayment rights on investment securities.

 

Partially offset by:

 

 A $7.8 million increase in interest income on consumer loans, mainly due to a $324.5 million increase in the average balance of this portfolio, primarily as a result of increases of auto loans, personal loans and finance leases.

 

The net interest margin decreased by 29 basis points to 4.63% for the first quarter of 2020, compared to 4.92% for the first quarter of 2019. The decrease was primarily attributable to the downward repricing of variable rate commercial and construction loans, as well as interest-bearing cash balances attributable to the effect of the lower interest rate environment, and the increase in the premium amortization expense on U.S. agencies MBS.

 

On an adjusted tax-equivalent basis, net interest income for the quarter ended March 31, 2020 decreased by $1.2 million to $144.3 million, compared to $145.5 million for the same period in 2019. The tax-equivalent adjustment increased by $0.3 million due to an increase in the average balance of U.S. agencies MBS held by the IBE subsidiary First Bank Overseas.

 

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Provision for Credit Losses

The provision for credit losses consists of provisions for credit losses on loans and finance leases, unfunded loan commitments, as well as held-to-maturity and available-for-sale debt securities. On January 1, 2020, the Corporation adopted ASU 2016-13, which replaces the incurred loss methodology with an expected loss methodology that is referred to as the CECL methodology to estimate the ACL of certain financial assets considering, among other things, expected future changes in macroeconomic conditions. The Corporation adopted ASU 2016-13 using the modified retrospective method, resulting in a cumulative increase of approximately $93.2 million in the total ACL with a corresponding decrease, net of applicable taxes, in beginning retained earnings as of January 1, 2020. Results for reporting periods beginning after January 1, 2020 are presented under ASU 2016-13 while prior period amounts continue to be reported in accordance with previously applicable GAAP. See Note 1 – Basis of Presentation and Significant Accounting Policies, to the consolidated financial statements for further information about the day-one impact of adopting ASU 2016-13, as well as a description of the methodologies that the Corporation follows to determine the ACL.

The principal changes in the provision for credit losses by main categories follow:

Provision for credit losses for loans and finance leases

 

The provision for credit losses for loans and finance leases increased by $62.2 million to $74.0 million for the first quarter of 2020 compared to $11.8 million for the first quarter of 2019. The variances by major portfolio category are as follow:

 

 Provision for credit losses on commercial and construction loans of $24.6 million, compared to a release of $5.0 million in the first quarter of 2019. The increase reflects deterioration in the macro-economic environment due to the COVID-19 pandemic reflected across multiple sectors with the higher increases in the ACL made for loans in the accommodation, retail real estate, and transportation industries. The exposure to these industries represents approximately 28% of the total commercial and construction loan portfolio as of March 31, 2020. The reserve release recorded in the first quarter of 2019 was primarily related to a $3.4 million reserve release associated with the resolution of uncertainties surrounding the repayment prospects of a hurricane-affected commercial customer.

 

 Provision for credit losses on residential mortgage loans of $16.2 million, compared to $6.6 million in the first quarter of 2019. The increase was driven by a $12.4 million reserve build (i.e., provision of $16.2 million in excess of net charge-offs of $3.8 million) in the first quarter of 2020, reflecting forecasted credit deterioration due to the COVID-19 pandemic, partially offset by the decline in the balance of this portfolio.

 

 Provision for credit losses on consumer loans and finance leases of $33.2 million, compared to $10.2 million in the first quarter of 2019. The increase was driven by a $19.5 million reserve build (i.e., provision of $33.2 million in excess of net charge-offs of $13.7 million) in the first quarter of 2020 reflecting forecasted credit deterioration due to the COVID-19 pandemic, primarily reflected in the credit cards and unsecured personal loans portfolios, and the increase in the overall size of this portfolio. In addition, the variance reflects the effect in the first quarter of 2019 of a $3.0 million reserve release related to revised estimates associated with the effects of Hurricanes Irma and Maria, attributable to the updated payment patterns and credit risk analyses applied to consumer borrowers subject to payment deferral programs that expired early in 2018.

 

See “Risk Management – Credit Risk Management” below for an analysis of the allowance for credit losses, non-performing assets, and related information, and see “Financial Condition and Operating Data Analysis – Loan Portfolio and Risk Management — Credit Risk Management” below for additional information concerning the Corporation’s loan portfolio exposure in the geographic areas where the Corporation does business.

 

Provision for credit losses for unfunded loan commitments

 

The Corporation recorded a provision for credit losses for unfunded commercial and construction loan commitments and standby letters of credit of $1.8 million in the first quarter of 2020, compared to a release of $0.4 million in the first quarter of 2019. The increase was driven by the effect of the deteriorating economic outlook due to the COVID-19 pandemic.

 

Provision for credit losses for held-to-maturity and available-for-sale debt securities

 

The Corporation recorded a provision for credit losses for held-to-maturity and available-for-sale debt securities of $1.1 million and $0.4 million, respectively, in the first quarter of 2020 as a result of CECL requirements in effect since January 1, 2020. ASU 2016-13 requires the determination of expected credit losses over the life of held-to-maturity securities and changed the accounting for available-for-sale debt securities to require credit losses to be presented as an allowance rather than as a write-down on available-for-sale debt securities that management does not intend to sell or believes that it is more likely than not it will not be required to sell.

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Non-Interest Income
	The following table presents the composition of non-interest income for the indicated periods:
		Quarter Ended March 31,
		2020			2019
	(In thousands)
	Service charges on deposit accounts	$	5,957		$	5,716
	Mortgage banking activities		3,788			3,627
	Insurance income		4,582			4,250
	Other operating income		7,626			8,950
	Non-interest income before net gain
	on sales of investment securities		21,953			22,543
	Net gain on sales of investment securities		8,247			-
	Total	$	30,200		$	22,543

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Non-interest income primarily consists of income from service charges on deposit accounts, commissions derived from various banking and insurance activities, gains and losses on mortgage banking activities, interchange and other fees related to debit and credit cards, and net gains and losses on investment securities.

Service charges on deposit accounts include monthly fees, overdraft fees, and other fees on deposit accounts, as well as corporate cash management fees.

Income from mortgage banking activities includes gains on sales and securitizations of loans, revenues earned for administering residential mortgage loans originated by the Corporation and subsequently sold with servicing retained, and unrealized gains and losses on forward contracts used to hedge the Corporation’s securitization pipeline. In addition, lower-of-cost-or-market valuation adjustments to the Corporation’s residential mortgage loans held-for-sale portfolio and servicing rights portfolio, if any, are recorded as part of mortgage banking activities.

Insurance income consists mainly of insurance commissions earned by the Corporation’s subsidiary, FirstBank Insurance Agency, Inc.

 

The other operating income category is composed of miscellaneous fees such as debit, credit card and POS interchange fees, as well as contractual shared revenues from merchant contracts sold in 2015.

The net gain on investment securities reflects gains or losses as a result of sales that are consistent with the Corporation’s investment policies.

Non-interest income for the first quarter of 2020 amounted to $30.2 million, compared to $22.5 million for the same period in 2019. The $7.7 million increase in non-interest income was primarily related to:

 

 An $8.2 million gain on sales of approximately $275.6 million of available-for-sale U.S. agencies MBS. The securities sold carried an increased prepayment risk given the dramatic drops in market interest rates in March 2020.

 

 A $0.3 million increase in insurance income, driven by higher insurance contingent commissions received by the insurance agency in the first quarter of 2020 as compared to the same period in 2019.

 

 A $0.2 million increase in service charges on deposits accounts, primarily related to an increase in the number of returned checks, overdraft, and cash management fee transactions.

 

 A 0.2 million increase in revenues from mortgage banking activities, driven by a $1.3 million increase in gains on sales of residential mortgage loans in the secondary market, partially offset by a $0.6 million increase in unrealized marked-to-market losses on To-Be-Announced (“TBA”) MBS forward contracts and a $0.2 million increase in the mortgage servicing rights amortization expense. Total loans sold in the secondary market to U.S. GSEs during the first quarter of 2020 amounted to $93.7 million with a related net gain of $3.4 million (net of realized losses of $0.4 million on settled TBA hedges), compared to total loans sold in the secondary market during the first quarter of 2019 of $77.3 million with a related net gain of $2.2 million (net of realized losses of $0.6 million on settled TBA hedges).

 

Partially offset by:

 

 A $1.3 million decrease in Other operating income in the table above, primarily related to a $0.6 million decrease in transactional fee income from credit and debit cards, ATMs, and POS and merchant-related activity as a result of reduced transactions caused by quarantines and lockdowns of non-essential businesses in connection with the COVID-19 pandemic, the effect in 2019 of a $0.2 million gain recorded on the sale of $4.8 million in nonaccrual commercial loans held for sale, and a $0.1 million decrease in non-deferrable loan fee income, such as expired commitment fees.

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Non-Interest Expenses
The following table presents the components of non-interest expenses for the indicated periods:
		Quarter Ended March 31,
		2020			2019
	(In thousands)
	Employees' compensation and benefits	$	42,859		$	39,296
	Occupancy and equipment		15,127			16,055
	FDIC deposit insurance premium		1,522			1,698
	Taxes, other than income taxes		3,880			3,820
	Professional fees:
	Collections, appraisals and other credit-related fees		1,696			1,717
	Outsourced technology services		6,829			5,520
	Other professional fees		3,268			3,073
	Credit and debit card processing expenses		3,950			4,154
	Business promotion		3,622			3,706
	Communications		1,877			1,752
	Net loss on OREO and OREO operations expenses		1,188			3,743
	Merger and restructuring costs		845			-
	Other		5,521			5,850
	Total	$	92,184		$	90,384

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Non-interest expenses for the first quarter of 2020 were $92.2 million, compared to $90.4 million for the same period in 2019. The $1.8 million increase in non-interest expenses was mainly due to:

 

 A $3.6 million increase in employees’ compensation and benefits, primarily related to the effect in the first quarter of 2019 of the $2.3 million expense recovery related to the employee retention benefit payment received by the Bank by virtue of the Disaster Tax Relief and Airport Extension Act, as well as increases related to salary merit increases that took effect in July 2019.

 

 A $1.5 million increase in professional fees, reflecting a $1.3 million increase in outsourced technology service fees, primarily related to efforts aimed to enhance disaster recovery capabilities.

 

 Merger and restructuring costs amounting to $0.8 million in connection with the pending acquisition of BSPR. These costs primarily included consulting, legal, and other pre-integration related efforts.

 

Partially offset by:

 

 A $2.6 million decrease in net loss on OREO operations, primarily related to a $2.0 million decrease in write-downs to the value of OREO properties and a $0.8 million decrease in OREO-related operating expenses, primarily repairs and maintenance, partially offset by a $0.2 million decrease in income recognized from rental payments associated with OREO income-producing properties.

 

 A $0.9 million decrease in occupancy and equipment costs, primarily related to insurance recoveries of $0.8 million recorded in the first quarter of 2020 in connection with hurricane-related costs.

 

 A $0.3 million decrease in “Other” in the table above, primarily related to a decrease in charges to the reserve for operational losses.

 

 A $0.2 million decrease in the FDIC insurance premium expense, reflecting among other things, improved liquidity metrics.

 

 A $0.2 million decrease in credit and debit card processing expenses, mainly due to lower transaction volumes and higher credit card networks incentives received in the first quarter of 2020.

 

 

 

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Income Taxes

 

Income tax expense includes Puerto Rico and USVI income taxes, as well as applicable U.S. federal and state taxes. The Corporation is subject to Puerto Rico income tax on its income from all sources. As a Puerto Rico corporation, First BanCorp. is treated as a foreign corporation for U.S. and USVI income tax purposes and, accordingly, is generally subject to U.S. and USVI income tax only on its income from sources within the U.S. and USVI or income effectively connected with the conduct of a trade or business in those jurisdictions. Any such tax paid in the U.S. and USVI is also creditable against the Corporation’s Puerto Rico tax liability, subject to certain conditions and limitations.

 

Under the Puerto Rico Internal Revenue Code of 2011, as amended (the “2011 PR Code”), the Corporation and its subsidiaries are treated as separate taxable entities and are not entitled to file consolidated tax returns and, thus, the Corporation is generally not entitled to utilize losses from one subsidiary to offset gains in another subsidiary. Accordingly, in order to obtain a tax benefit from a net operating loss (“NOL”), a particular subsidiary must be able to demonstrate sufficient taxable income within the applicable NOL carry-forward period. Pursuant to the 2011 PR Code, the carry-forward period for NOLs incurred during taxable years that commenced after December 31, 2004 and ended before January 1, 2013 is 12 years; for NOLs incurred during taxable years commencing after December 31, 2012, the carryover period is 10 years. The 2011 PR Code provides a dividend received deduction of 100% on dividends received from “controlled” subsidiaries subject to taxation in Puerto Rico and 85% on dividends received from other taxable domestic corporations.

 

The Corporation has maintained an effective tax rate lower than the maximum statutory rate of 37.5%, mainly by investing in government obligations and MBS exempt from U.S. and Puerto Rico income taxes and by doing business through an IBE unit of the Bank, and through the Bank’s subsidiary, FirstBank Overseas Corporation, whose interest income and gains on sales is exempt from Puerto Rico income taxation. The IBE and FirstBank Overseas Corporation were created under the International Banking Entity Act of Puerto Rico, which provides for total Puerto Rico tax exemption on net income derived by IBEs operating in Puerto Rico on the specific activities identified in the IBE Act. An IBE that operates as a unit of a bank pays income taxes at the corporate standard rates to the extent that the IBE’s net income exceeds 20% of the bank’s total net taxable income.

 

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, which was enacted on March 27, 2020, includes several provisions to stimulate the U.S. economy in the midst of the COVID-19 pandemic. The CARES Act includes tax provisions that temporarily modified the taxable income limitations for NOL usage to offset future taxable income, NOL carryback provisions and other related income and non-income based tax laws. The Corporation has evaluated such provisions and determined that the impact of the CARES Act to income tax provision and deferred tax assets as March 31, 2020 was not significant.

 

For the first quarter of 2020, the Corporation recorded an income tax benefit of $3.0 million, compared to an income tax expense of $17.6 million for the same period in 2019. The variance was mostly attributable to an income tax benefit of approximately $20.0 million recorded in the first quarter of 2020 in connection with higher charges to the provision for credit losses for loans, finance leases and debt securities due to the effect of the COVID-19 pandemic on forecasted economic conditions.

 

 

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For the quarter ended March 31, 2020, the Corporation calculated the provision for income taxes by applying the estimated annual effective tax rate for the full fiscal year to ordinary income or loss. In the computation of the consolidated worldwide annual estimated effective tax rate, ASC Topic 740-270, “Income Taxes” (“ASC Topic 740-270”), requires the exclusion of legal entities with pre-tax losses from which a tax benefit cannot be recognized. The Corporation’s estimated annual effective tax rate in the first quarter of 2020, excluding entities from which a tax benefit cannot be recognized and discrete items, was 24% compared to 28% for the first quarter of 2019. The estimated annual effective tax rate including all entities for 2020 was 26% (25% excluding discrete items), compared to 29% for the first quarter of 2019, (26% excluding discrete items).

 

On January 1, 2020, the Corporation increased its deferred tax assets by $31.3 million in connection with the transitional adjustment resulting from the adoption of the CECL accounting standard. The Corporation’s net deferred tax asset amounted to $307.8 million as of March 31, 2020, net of a valuation allowance of $88.5 million, and management concluded, based upon the assessment of all positive and negative evidence, that it is more likely than not that the Corporation will generate sufficient taxable income within the applicable NOL carry-forward periods to realize such amount. Due to the inherent uncertainties related to the extent and duration of the COVID-19 pandemic, there is no evidence that can be objectively verified at this time to affect the Corporation’s assessment about the ability to realize its deferred tax assets. The net deferred tax asset of the Corporation’s banking subsidiary, FirstBank, amounted to $307.7 million as of March 31, 2020, net of a valuation allowance of $52.7 million, compared to a net deferred tax asset of $264.8 million, net of a valuation allowance of $55.6 million, as of December 31, 2019.

 

In 2017, the Corporation completed a formal ownership change analysis within the meaning of Section 382 of the U.S. Internal Revenue Code (“Section 382”) covering a comprehensive period, and concluded that an ownership change had occurred during such period. The Section 382 limitation has resulted in higher U.S. and USVI income tax liabilities than we would have incurred in the absence of such limitation. The Corporation has mitigated to an extent the adverse effects associated with the Section 382 limitation as any such tax paid in the U.S. or USVI can be creditable against Puerto Rico tax liabilities or taken as a deduction against taxable income. However, our ability to reduce our Puerto Rico tax liability through such a credit or deduction depends on our tax profile at each annual taxable period, which is dependent on various factors. For the first quarter of 2020, the Corporation incurred an income tax expense of approximately $1 million related to its U.S. operations, compared to $1.8 million for the same period in 2019. The limitation did not impact the USVI operations in the first quarter of 2020 and 2019.

 

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FINANCIAL CONDITION AND OPERATING DATA ANALYSIS

 

Assets

 

The Corporation’s total assets were $13.0 billion as of March 31, 2020, an increase of $436.7 million from December 31, 2019. The increase was primarily related to a $443.6 million increase in cash and cash equivalents, attributable, among other things, the $213.9 million growth in total deposits, as well as proceeds of $200 million received from the cancellation of reverse repurchase agreements that were previously offset in the statement of financial condition against variable-rate repurchase agreements in accordance with ASC Topic 210-20-45-1. In addition, there was a net increase of $84.8 million in investment securities and account receivables from unsettled investment sales, as well as increases of $43.0 million in net deferred tax assets, and $9.3 million in total loans, as further discussed below. These increases were partially offset by a $137.6 million increase in the ACL of loans and finance leases in connection with the cumulative effect of adopting ASC 326 on January 1, 2020 and the reserves build during the first quarter of 2020.

 

Loan Portfolio

 

The following table presents the composition of the Corporation’s loan portfolio, including loans held for sale, as of the dates indicated:
			March 31,			December 31,
	(In thousands)		2020			2019
	Residential mortgage loans		$	2,875,672		$	2,933,773
	Commercial loans:
	Commercial mortgage loans			1,454,753			1,444,586
	Construction loans			159,675			111,317
	Commercial and Industrial loans			2,236,218			2,230,876
	Total commercial loans			3,850,646			3,786,779
	Consumer loans			2,312,629			2,281,653
	Total loans held for investment			9,038,947			9,002,205
	Less:
	Allowance for credit losses for loans and finance leases			(292,774)			(155,139)
	Total loans held for investment, net		$	8,746,173		$	8,847,066
	Loans held for sale			12,046			39,477
	Total loans, net		$	8,758,219		$	8,886,543

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As of March 31, 2020, the Corporation’s total loan portfolio, before the allowance for credit losses, amounted to $9.1 billion, an increase of $9.3 million when compared to December 31, 2019. The variance consisted of a $60.0 million increase in the Florida region, partially offset by reductions of $41.8 million and $8.9 million in Puerto Rico and the Virgin Islands regions, respectively. On a portfolio basis, the increase consisted of a $63.8 million growth in commercial and construction loans and a $31.0 million increase in consumer loans, partially offset by an $85.5 million decrease in residential mortgage loans.

 

The increase in total loans in the Florida region consisted of a $74.1 million increase in the balance of commercial and construction loans, partially offset by reductions of $9.8 million in residential mortgage loans and $4.3 million in consumer loans. The increase in commercial and construction loans was driven by new loan originations, including $62.3 million on four large facilities individually in excess of $7 million.

 

The decrease in total loans in the Puerto Rico region consisted of reductions of $68.6 million and $7.1 million in residential mortgage and commercial and construction loans, respectively, partially offset by a $33.9 million increase in consumer loans. The decrease in commercial and construction loans was mainly related to an $8.9 million decrease in the total balance of floor plan lines of credit and principal repayments received during the first quarter that reduced by $8.9 million the balance of three large commercial and industrial lines of credit, partially offset by an increase in the balance of certain construction facilities. The decrease in residential mortgage loans in the Puerto Rico region reflects the effect of collections, charge-offs, sales of loans held for sale, and approximately $4.3 million of foreclosures recorded in the first quarter, which more than offset a reduced volume of residential mortgage loan originations. The increase in consumer loans was driven by new loan originations, but at a slower pace than during prior quarters due to disruptions caused by the COVID-19 pandemic. As of the date hereof, the amount of draws from unfunded loan commitments has not increased significantly due to COVID-19.

 

The decrease in total loans in the Virgin Islands region reflects reductions of $7.1 million in residential mortgage loans and $3.2 million in commercial and construction loans, partially offset by an increase of $1.4 million in consumer loans.

 

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As of March 31, 2020, the loans held for investment portfolio was comprised of commercial and construction loans (43%), residential real estate loans (32%), and consumer and finance leases (25%). Of the total gross loan portfolio held for investment of $9.0 billion as of March 31, 2020, the Corporation had credit risk concentration of approximately 74% in the Puerto Rico region, 21% in the United States region (mainly in the state of Florida), and 5% in the Virgin Islands region, as shown in the following table:

 

As of March 31, 2020	Puerto Rico			Virgin Islands			United States			Total
(In thousands)
Residential mortgage loans	$	2,094,269		$	223,903		$	557,500		$	2,875,672
Commercial mortgage loans		1,014,664			64,725			375,364			1,454,753
Construction loans		46,291			12,222			101,162			159,675
Commercial and Industrial loans		1,266,200			105,228			864,790			2,236,218
Total commercial loans		2,327,155			182,175			1,341,316			3,850,646
Consumer loans		2,225,102			51,302			36,225			2,312,629
Total loans held for investment, gross	$	6,646,526		$	457,380		$	1,935,041		$	9,038,947
Loans held for sale		7,628			88			4,330			12,046
Total loans, gross	$	6,654,154		$	457,468		$	1,939,371		$	9,050,993

 

As of December 31, 2019	Puerto Rico			Virgin Islands			United States			Total
(In thousands)
Residential mortgage loans	$	2,136,818		$	230,769		$	566,186		$	2,933,773
Commercial mortgage loans		1,012,523			67,377			364,686			1,444,586
Construction loans		36,102			12,144			63,071			111,317
Commercial and Industrial loans		1,285,594			105,819			839,463			2,230,876
Total commercial loans		2,334,219			185,340			1,267,220			3,786,779
Consumer loans		2,191,207			49,924			40,522			2,281,653
Total loans held for investment, gross	$	6,662,244		$	466,033		$	1,873,928		$	9,002,205
Loans held for sale		33,709			350			5,418			39,477
Total loans, gross	$	6,695,953		$	466,383		$	1,879,346		$	9,041,682

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Residential Real Estate Loans

 

As of March 31, 2020, the Corporation’s residential mortgage loan portfolio held for investment decreased by $58.1 million, as compared to the balance as of December 31, 2019, reflecting reductions in all regions as principal repayments, charge-offs, and foreclosures exceeded the volume of residential mortgage loan originations. Consistent with the Corporation’s strategies, the residential mortgage loan portfolio held for investment decreased by $42.5 million in the Puerto Rico region, $8.7 million in the Florida region, and $6.9 million in the Virgin Islands region. Approximately 87% of the $60.5 million in residential mortgage loan originations in the Puerto Rico region during the first quarter of 2020 consisted of conforming loan originations and refinancings.

 

The majority of the Corporation’s outstanding balance of residential mortgage loans in Puerto Rico and in the Virgin Islands regions consisted of fixed-rate loans that traditionally carry higher yields than residential mortgage loans in the Florida region. In the Florida region, approximately 57% of the residential mortgage loan portfolio consisted of hybrid adjustable-rate mortgages. In accordance with the Corporation’s underwriting guidelines, residential mortgage loans are primarily fully-documented loans, and the Corporation does not originate negative amortization loans.

 

Commercial and Construction Loans

 

As of March 31, 2020, the Corporation’s commercial and construction loan portfolio increased by $63.9 million to $3.9 billion, as compared to the balance as of December 31, 2019. In the Florida region, commercial and construction loans increased by $74.1 million, mainly attributable to new loan originations, including the origination of a $30.6 million construction loan. As explained above, the decrease in the Puerto Rico region of $7.1 million was mainly related to an $8.9 million decrease in the total balance of floor plan lines of credit and principal repayments received during the first quarter that reduced by $8.9 million the balance of three large commercial and industrial lines of credit, partially offset by an increase in the balance of certain construction facilities. The commercial and construction loan portfolio in the Virgin Islands region decreased by $3.2 million.

 

As of March 31, 2020, the Corporation had $56.6 million outstanding in loans extended to the Puerto Rico government, its municipalities and public corporations, compared to $57.7 million as of December 31, 2019. Approximately $43.0 million of the outstanding loans as of March 31, 2020 consisted of loans extended to municipalities in Puerto Rico, which in most cases are supported by assigned property tax revenues. The vast majority of revenues of the municipalities included in the Corporation’s loan portfolio are independent of the Puerto Rico central government. These municipalities are required by law to levy special property taxes in such amounts as are required for the payment of all of their respective general obligation bonds and notes. Late in 2015, the Government Development Bank for Puerto Rico (“GDB”) and the Municipal Revenue Collection Center (“CRIM”) signed and perfected a deed of trust. Through this deed, the Puerto Rico Fiscal Agency and Financial Advisory Authority, as fiduciary, is bound to keep the CRIM funds separate from any other deposits and must distribute the funds pursuant to applicable law. The CRIM funds are deposited at another commercial depository financial institution in Puerto Rico. In addition to loans extended to municipalities, the Corporation’s loan exposure to the Puerto Rico government as of March 31, 2020 included a $13.7 million loan granted to an affiliate of the Puerto Rico Electric Power Authority (“PREPA”).

 

The Corporation also has credit exposure to USVI government entities. As of March 31, 2020, the Corporation had $62.5 million in loans to USVI government instrumentalities and public corporations, compared to $64.1 million as of December 31, 2019. Of the amount outstanding as of March 31, 2020, public corporations of the USVI owed approximately $39.3 million and an independent instrumentality of the USVI government owed approximately $23.2 million. As of March 31, 2020, all loans were currently performing and up to date on principal and interest payments.

 

As of March 31, 2020, the Corporation’s total exposure to shared national credit (“SNC”) loans (including unused commitments) amounted to $813.9 million, compared to $820.4 million as of December 31, 2019. As of March 31, 2020, approximately $150.0 million of the SNC exposure related to the portfolio in Puerto Rico and $663.9 million related to the portfolio in the Florida region.

 

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The composition of the Corporation’s construction loan portfolio held for investment as of March 31, 2020 and December 31, 2019 by category and geographic location follows:

 

As of March 31, 2020
		Puerto Rico			Virgin Islands			United States			Total
(In thousands)
Loans for residential housing projects:
Mid-rise (1)		$	509		$	956		$	-		$	1,465
Single-family, detached			5,334			673			6,971			12,978
Total for residential housing projects			5,843			1,629			6,971			14,443
Construction loans to individuals secured by residential properties			48			475			-			523
Loans for commercial projects			27,854			8,463			92,307			128,624
Land loans - residential			7,318			1,655			1,884			10,857
Land loans - commercial			5,228			-			-			5,228
Total construction loan portfolio, gross			46,291			12,222			101,162			159,675
Allowance for credit losses			(3,670)			(367)			(1,216)			(5,253)
Total construction loan portfolio, net		$	42,621		$	11,855		$	99,946		$	154,422
____________________
(1) Mid-rise relates to buildings of up to 7 stories.

 

As of December 31, 2019
		Puerto Rico			Virgin Islands			United States			Total
(In thousands)
Loans for residential housing projects:
Mid-rise (1)		$	514		$	956		$	-		$	1,470
Single-family, detached			246			797			6,267			7,310
Total for residential housing projects			760			1,753			6,267			8,780
Construction loans to individuals secured by residential properties			48			473			-			521
Loans for commercial projects			22,827			8,160			54,536			85,523
Land loans - residential			7,193			1,758			2,268			11,219
Land loans - commercial			5,274			-			-			5,274
Total construction loan portfolio, gross			36,102			12,144			63,071			111,317
Allowance for credit losses			(1,706)			(655)			(9)			(2,370)
Total construction loan portfolio, net		$	34,396		$	11,489		$	63,062		$	108,947
____________________
(1) Mid-rise relates to buildings of up to 7 stories.

 

The following table presents further information related to the Corporation’s construction portfolio as of and for the quarter ended March 31, 2020:
	(Dollars in thousands)
	Total undisbursed funds under existing commitments	$	189,440
	Construction loans held for investment in nonaccrual status	$	9,663
	Net recoveries - Construction loans	$	24
	Allowance for credit losses - Construction loans	$	5,253
	Nonaccrual construction loans to total construction loans		6.05%
	Allowance for credit losses for construction loans to total construction loans held for investments		3.29%
	Net recoveries (annualized) to total average construction loans		-0.08%

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Consumer Loans and Finance Leases

 

As of March 31, 2020, the Corporation’s consumer loan and finance lease portfolio increased by $31.0 million to $2.3 billion, as compared to the portfolio balance as of December 31, 2019. The increase primarily reflects increases in auto loans, finance leases, and boat loans, which increased by $28.2 million and $14.6 million, respectively, partially offset by reductions in credit card loans and personal loans of $8.2 million and $3.1 million, respectively. The increase in consumer loans was driven by new loan originations, but at a slower pace than during prior quarters due to disruptions caused by the COVID-19 pandemic.

 

Loan Production

 

First BanCorp. relies primarily on its retail network of branches to originate residential and consumer loans. The Corporation supplements its residential mortgage originations with wholesale servicing released mortgage loan purchases from mortgage bankers. The Corporation manages its construction and commercial loan originations through centralized units and most of its originations come from existing customers, as well as through referrals and direct solicitations.

 

The following table provides a breakdown of First BanCorp.’s loan production, including purchases, refinancings, renewals and draws from existing revolving and nonrevolving commitments, for the periods indicated:
	Quarter Ended March 31,
	2020			2019
		(In thousands)
Residential mortgage	$	80,009		$	115,204
Commercial mortgage		115,832			62,389
Commercial and Industrial		358,475			464,345
Construction		50,615			10,048
Consumer		282,027			318,721
Total loan production	$	886,958		$	970,707

 

The beginning of the first quarter of 2020 was characterized by favorable market conditions, However, in March, the spread of COVID-19 caused a sharp contraction in economic activity and high levels of volatility across most financial markets. During the first quarter of 2020, total loan originations, including purchases, refinancings, and draws from existing revolving and non-revolving commitments, amounted to approximately $887.0 million, compared to $970.7 million for the comparable period in 2019.

 

Residential mortgage loan originations and purchases amounted to $80.0 million for the first quarter of 2020, compared to $115.2 million for the first quarter of 2019. These statistics include purchases from mortgage bankers of $0.8 million for the first quarter of 2020, compared to $4.3 million for the comparable period in 2019. The decrease of $35.2 million in the first quarter of 2020, as compared to the same period of 2019, reflects decreases of approximately $34.2 million and $3.0 million in the Puerto Rico and Florida regions, respectively, partially offset by an increase of $2.0 million in the Virgin Islands region. The decrease reflects the effect of disruptions in the loan underwriting and closing processes caused by the lockdown in Puerto Rico since March 16, 2020 related to the COVID-19 pandemic.

 

Commercial and construction loan originations (excluding government loans) amounted to $524.4 million for the first quarter of 2020, compared to $531.0 million for the first quarter of 2019. The decrease in the first quarter of 2020, compared to the same period in 2019, reflects reductions of approximately $17.5 million and $6.5 million in the Florida and Virgin Islands regions, respectively, partially offset by an increase of approximately $17.4 million in the Puerto Rico region. The increase in the Puerto Rico region reflects increases in the utilization of floor plan lines of credit and construction loan facilities, despite the disruption caused by the COVID-19 pandemic toward the end of the quarter.

 

Government loan originations amounted to $0.5 million for the first quarter of 2020, compared to $5.8 million for the first quarter of 2019. Government loan originations in each of those periods were mainly related to the utilization of an arranged overdraft line of credit of a government entity in the Virgin Islands region.

 

Originations of auto loans (including finance leases) for the first quarter of 2020 amounted to $151.2 million, a decrease of $12.6 million, compared to $163.8 million for the first quarter of 2019. The decrease was primarily attributable to the Puerto Rico and Florida regions with decreases of $10.6 million and $2.8 million, respectively, partially offset by a $0.8 million increase in the Virgin Islands region. Personal loan originations for the first quarter of 2020, other than credit cards, amounted to $46.5 million, compared to $65.6 million for the first quarter of 2019. Most of the decrease in personal loan originations for the first quarter of 2020, as compared with the same period in 2019, was in the Puerto Rico region. The utilization activity on the outstanding credit card portfolio for the first quarter of 2020 amounted to $84.3 million, compared to $89.3 million for the first quarter of 2019. The reduction in consumer loan originations is attributable primarily to disruptions caused by the COVID-19 pandemic.

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Investment Activities

 

As part of its liquidity, revenue diversification and interest rate risk strategies, First BanCorp. maintains an investment portfolio that is classified as available for sale or held to maturity. The Corporation’s total available-for-sale investment securities portfolio as of March 31, 2020 amounted to $1.9 billion, a $191.3 million decrease from December 31, 2019. The decrease was mainly driven by the aforementioned sales of $275.6 million of U.S. agencies MBS and related realized gain of $8.2 million, prepayments of $74.0 million of U.S. agencies MBS, and $27.7 million of U.S. agencies bonds that were called prior to maturity, partially offset by purchases of $147.8 million of U.S. agencies MBS and bonds, an increase of approximately $50 million in the fair value of available-for-sale securities. The sales of $275.6 million had settlement dates in April; thus, as of March 31, 2020, the decrease in the investment securities portfolio was offset by a corresponding increase in accounts receivable on unsettled investment sales included as part of other assets in the consolidated statements of financial condition. Given the stimulus actions being taken by the federal government to contain the economic effects of the COVID-19 pandemic, market interest rates remain at low levels, potentially triggering accelerated exercise of call options and prepayment rights on investments securities. These risks are directly linked to future period market interest rate fluctuations.

 

As of March 31, 2020, approximately 99% of the Corporation’s available-for-sale securities portfolio was invested in U.S. government and agencies debentures and fixed-rate GSEs MBS (mainly GNMA, FNMA and FHLMC fixed-rate securities). In addition, as of March 31, 2020, the Corporation owned bonds of the Puerto Rico Housing Finance Authority (“PRHFA”), classified as available for sale, in the aggregate amount of $8.1 million, carried on the Corporation’s books at their aggregate fair value of $7.3 million. Approximately $4.1 million (fair value - $3.0 million) of these bonds consisted of a residential pass-through MBS issued by the PRHFA that is collateralized by second mortgages originated under a program launched by the Puerto Rico government in 2010.

 

As of March 31, 2020, the Corporation’s held-to-maturity investment securities portfolio, before the ACL, amounted to $138.5 million, down $0.1 million from December 31, 2019. Upon adoption of CECL on January 1, 2020, the Corporation recognized an ACL for held-to-maturity debt securities of approximately $8.1 million, as a cumulative effect adjustment from a change in accounting policy, with a corresponding decrease in beginning retained earnings, net of applicable income taxes. As of March 31, 2020, the ACL for held-to-maturity debt securities was $9.3 million, including the $8.1 million effect of adopting CECL and a $1.1 million charge to the provision recorded in the first quarter of 2020. Held-to-maturity investment securities consisted of financing arrangements with Puerto Rico municipalities issued in bond form, which the Corporation accounts for as securities, but which were underwriten as loans with features that are typically found in commercial loans. These obligations typically are not issued in bearer form, are not registered with the SEC, and are not rated by external credit agencies. These bonds have seniority to the payment of operating costs and expenses of the municipality and are supported by assigned property tax revenues. Approximately 70% of the Corporation’s municipality bonds consisted of obligations issued by three of the largest municipalities in Puerto Rico. The municipalities are required by law to levy special property taxes in such amounts as are required for the payment of all of their respective general obligation bonds and loans. The increase in the ACL during the first quarter of 2020 primarily reflects the effect of the deteriorating economic outlook due to the COVID-19 pandemic on the macroeconomic variables considered for the determination of the ACL. Given the uncertainties as to effects that the negative fiscal position of the Puerto Rico central government, the COVID-19 pandemic outbreak, and the measures taken, or to be taken, by other government entities may have on municipalities, the Corporation cannot be certain whether future charges to the ACL on these securities will be required.

 

See “Risk Management – Exposure to Puerto Rico Government” below for information and details about the Corporation’s total direct exposure to the Puerto Rico government, including municipalities.

 

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The following table presents the carrying values of investments as of March 31, 2020 and December 31, 2019:
		March 31,			December 31,
		2020			2019
(In thousands)
Money market investments		$	97,708		$	97,708
Investment securities available for sale, at fair value:
U.S. government and agencies obligations			354,723			332,199
Puerto Rico government obligations			7,330			7,322
MBS			1,569,625			1,783,504
Other			500			500
Total investment securities available for sale, at fair value			1,932,178			2,123,525
Investment securities held-to-maturity, at amortized cost:
Puerto Rico Municipal Bonds			138,534			138,675
Allowance for credit losses for held-to-maturity debt securities			(9,268)			-
			129,266			138,675
Equity securities, including $33.8 million and $34.1 million of FHLB stock,
as of March 31, 2020 and December 31, 2019, respectively			39,630			38,249
Total money market investments and investment securities		$	2,198,782		$	2,398,157

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MBS as of March 31, 2020 and December 31, 2019 consisted of:
	March 31,			December 31,
(In thousands)	2020			2019
Available for sale:
FHLMC certificates	$	385,768		$	509,210
GNMA certificates		363,039			312,882
FNMA certificates		722,565			869,417
Collateralized mortgage obligations issued or
guaranteed by FHLMC, FNMA or GNMA		87,953			80,879
Private label MBS		10,300			11,116
Total MBS	$	1,569,625		$	1,783,504

 

The carrying values of investment securities classified as available for sale and held to maturity as of March 31, 2020 by contractual maturity (excluding MBS) are shown below:
	Carrying			Weighted
(Dollars in thousands)	Amount			Average Yield %
U.S. Government and agencies obligations
Due within one year	$	98,094		1.57
Due after one year through five years		119,942		2.04
Due after five years through ten years		113,443		2.06
Due after ten years		23,244		0.65
		354,723		1.82
Puerto Rico government and municipalities obligations
Due within one year		321		5.65
Due after one year through five years		8,122		4.99
Due after five years through ten years		60,872		5.40
Due after ten years		76,549		5.34
		145,864		5.35
Other Investment Securities
Due after one year through five years		500		2.95
Total		501,087		2.86
MBS		1,569,625		2.63
Allowance for credit losses on held-to-maturity debt securities		(9,268)		-
Total investment securities available for sale and held to maturity	$	2,061,444		2.69

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Net interest income of future periods could be affected by prepayments of MBS. Any acceleration in the prepayments of MBS would lower yields on these securities, since the amortization of premiums paid upon acquisition of these securities would accelerate. Conversely, acceleration of the prepayments of MBS would increase yields on securities purchased at a discount, since the amortization of the discount would accelerate. These risks are directly linked to future period market interest rate fluctuations. Also, net interest income in future periods might be affected by the Corporation’s investment in callable securities. As of March 31, 2020, the Corporation had approximately $203.3 million in debt securities (U.S. agencies and Puerto Rico government securities) with embedded calls, which were primarily purchased at a discount and with an average yield of 2.16%. See “Risk Management” below for further analysis of the effects of changing interest rates on the Corporation’s net interest income and the Corporation’s interest rate risk management strategies. Also refer to Note 5, – Investment Securities, to the accompanying unaudited consolidated financial statements for additional information regarding the Corporation’s investment portfolio.

 

RISK MANAGEMENT

 

Risks are inherent in virtually all aspects of the Corporation’s business activities and operations. Consequently, effective risk management is fundamental to the success of the Corporation. The primary goals of risk management are to ensure that the Corporation’s risk-taking activities are consistent with the Corporation’s objectives and risk tolerance, and that there is an appropriate balance between risk and reward in order to maximize stockholder value.

 

The Corporation has in place a risk management framework to monitor, evaluate and manage the principal risks assumed in conducting its activities. First BanCorp.’s business is subject to eleven broad categories of risks: (1) liquidity risk; (2) interest rate risk; (3) market risk; (4) credit risk; (5) operational risk; (6) legal and compliance risk; (7) reputational risk; (8) model risk; (9) capital risk; (10) strategic risk; and (11) information technology risk. First BanCorp. has adopted policies and procedures designed to identify and manage the risks to which the Corporation is exposed.

 

The Corporation’s risk management policies are described below, as well as in Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” of the 2019 Annual Report on Form 10-K.

 

Liquidity Risk and Capital Adequacy

 

Liquidity is the ongoing ability to accommodate liability maturities and deposit withdrawals, fund asset growth and business operations, and meet contractual obligations through unconstrained access to funding at reasonable market rates. Liquidity management involves forecasting funding requirements and maintaining sufficient capacity to meet liquidity needs and accommodate fluctuations in asset and liability levels due to changes in the Corporation’s business operations or unanticipated events.

 

The Corporation manages liquidity at two levels. The first is the liquidity of the parent company, which is the holding company that owns the banking and non-banking subsidiaries. The second is the liquidity of the banking subsidiary. During the first quarter of 2020, the Corporation continued to pay quarterly interest payments on the subordinated debentures associated with its trust preferred securities (“TRuPs”), the monthly dividend income on its non-cumulative perpetual monthly income preferred stock, and quarterly dividends on its common stock.

 

The Asset and Liability Committee of the Corporation’s Board of Directors is responsible for establishing the Corporation’s liquidity policy, as well as approving operating and contingency procedures and monitoring liquidity on an ongoing basis. The Management’s Investment and Asset Liability Committee (“MIALCO”), which reports to the Board of Directors’ Asset and Liability Committee, uses measures of liquidity developed by management that involve the use of several assumptions to review the Corporation’s liquidity position on a monthly basis. The MIALCO oversees liquidity management, interest rate risk and other related matters.

 

The MIALCO is composed of senior management officers, including the Chief Executive Officer, the Chief Financial Officer, the Chief Risk Officer, the Retail Financial Services Director, the risk manager of the Treasury and Investments Division, the Financial Analysis and Asset/Liability Director and the Treasurer. The Treasury and Investments Division is responsible for planning and executing the Corporation’s funding activities and strategy, monitoring liquidity availability on a daily basis, and reviewing liquidity measures on a weekly basis. The Treasury and Investments Accounting and Operations area of the Comptroller’s Department is responsible for calculating the liquidity measurements used by the Treasury and Investment Division to review the Corporation’s liquidity position on a monthly basis. The Financial Analysis and Asset/Liability Director estimates the liquidity gap for longer periods.

  

 

 

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To ensure adequate liquidity through the full range of potential operating environments and market conditions, the Corporation conducts its liquidity management and business activities in a manner that will preserve and enhance funding stability, flexibility and diversity. Key components of this operating strategy include a strong focus on the continued development of customer-based funding, the maintenance of direct relationships with wholesale market funding providers, and the maintenance of the ability to liquidate certain assets when, and if, requirements warrant.

 

The Corporation develops and maintains contingency funding plans. These plans evaluate the Corporation’s liquidity position under various operating circumstances and are designed to help ensure that the Corporation will be able to operate through periods of stress when access to normal sources of funds is constrained. The plans project funding requirements during a potential period of stress, specify and quantify sources of liquidity, outline actions and procedures for effectively managing liquidity through a difficult period, and define roles and responsibilities for the Corporation’s employees. Under the contingency funding plans, the Corporation stresses the balance sheet and the liquidity position to critical levels that mimic difficulties in generating funds or even maintaining the current funding position of the Corporation and the Bank and are designed to help ensure the ability of the Corporation and the Bank to honor their respective commitments. The Corporation has established liquidity triggers that the MIALCO monitors in order to maintain the ordinary funding of the banking business. The MIALCO developed contingency funding plans for the following four scenarios: a local market event, a credit rating downgrade, an economic cycle downturn event, and a concentration event. The Board of Directors’ Asset and Liability Committee reviews and approves these plans on an annual basis.

 

The Corporation manages its liquidity in a proactive manner and in an effort to maintain a sound liquidity position. It uses multiple measures to monitor the liquidity position, including core liquidity, basic liquidity, and time-based reserve measures. As of March 31, 2020, the estimated core liquidity reserve (which includes cash and free liquid assets) was $2.3 billion, or 17.6% of total assets, compared to $2.0 billion, or 15.8% of total assets, as of December 31, 2019. The basic liquidity ratio (which adds available secured lines of credit to the core liquidity) was approximately 21.6% of total assets, compared to 20.1% of total assets as of December 31, 2019. As of March 31, 2020, the Corporation had $529.4 million available for additional credit from the FHLB. Unpledged liquid securities, mainly fixed-rate MBS and U.S. agency debentures, amounted to approximately $1.2 billion as of March 31, 2020. The Corporation does not rely on uncommitted inter-bank lines of credit (federal funds lines) to fund its operations and does not include them in the basic liquidity measure. As of March 31, 2020, the holding company had $22.2 million of cash and cash equivalents. Cash and cash equivalents at the Bank level as of March 31, 2020 were approximately $1.1 billion. The Bank had $452.0 million in brokered CDs as of March 31, 2020, of which approximately $290.1 million mature over the next twelve months. In addition, the Corporation had non-maturity brokered deposits totaling $223.2 million as of March 31, 2020. Liquidity at the Bank level is highly dependent on bank deposits, which fund 74% of the Bank’s assets (or 69% excluding brokered deposits).

 

Sources of Funding

 

The Corporation utilizes different sources of funding to help ensure that adequate levels of liquidity are available when needed. Diversification of funding sources is of great importance to protect the Corporation’s liquidity from market disruptions. The principal sources of short-term funds are deposits, including brokered deposits, securities sold under agreements to repurchase, and lines of credit with the FHLB.

 

The Asset and Liability Committee reviews credit availability on a regular basis. The Corporation has also sold mortgage loans as a supplementary source of funding and participates in the Borrower-in-Custody (“BIC”) Program of the FED. The Corporation has also obtained long-term funding in the past through the issuance of notes and long-term brokered CDs.

 

As of March 31, 2020, the amount of brokered CDs had increased by $16.9 million to $452.0 million from brokered CDs of $435.1 million as of December 31, 2019. In addition, non-maturity brokered deposits, such as a money market account maintained by a deposit broker, increased in the first quarter of 2020 by $100.9 million to $223.2 million as of March 31, 2020. Consistent with its strategy, the Corporation has been seeking to add core deposits. As of March 31, 2020, the Corporation’s deposits, excluding brokered deposits and government deposits, increased by $91.2 million to $7.8 billion, as further discussed below.

 

The Corporation continues to have access to financing through counterparties to repurchase agreements, the FHLB, and other agents, such as wholesale funding brokers. While liquidity is an ongoing challenge for all financial institutions, management believes that the Corporation’s available borrowing capacity and efforts to grow retail deposits will be adequate to provide the necessary funding for the Corporation’s business plans in the foreseeable future.

 

The Corporation’s principal sources of funding are:

 

Brokered deposits – Historically, a large portion of the Corporation’s funding has been brokered CDs issued by FirstBank. Total brokered CDs increased during the first quarter of 2020 by $16.9 million to $452.0 million as of March 31, 2020.

 

The average remaining term to maturity of the brokered CDs outstanding as of March 31, 2020 was approximately 1.1 year.

 

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The use of brokered CDs has historically been an important source of funding for the Corporation. The Corporation encounters intense competition in attracting and retaining regular retail deposits in Puerto Rico. The brokered CD market is very competitive and liquid, and has enabled the Corporation to obtain substantial amounts of funding in short periods of time. This strategy has enhanced the Corporation’s liquidity position, since brokered CDs are insured by the FDIC up to regulatory limits and can be obtained faster than regular retail deposits. In addition, the Corporation may obtain funds from brokers deposited in non-maturity money market accounts tied to the one-month LIBOR index. Non-maturity brokered deposits increased in the first quarter of 2020 by $100.9 million to $223.2 million as of March 31, 2020.

 

The following table presents contractual maturities of time deposits with denominations of $100,000 or higher as of March 31, 2020:
			Total
			(In thousands)
	Three months or less	$	460,203
	Over three months to six months		334,546
	Over six months to one year		645,175
	Over one year		990,650
	Total	$	2,430,574

 

CDs in denominations of $100,000 or higher include brokered CDs of $451.7 million issued to deposit brokers in the form of large CDs that are generally participated out by brokers in amounts of less than the FDIC insurance limit.

 

Government deposits – As of March 31, 2020, the Corporation had $818.8 million of Puerto Rico public sector deposits ($686.3 million in transactional accounts and $132.5 million in time deposits), compared to $826.9 million as of December 31, 2019. Approximately 36% is from municipalities and municipal agencies in Puerto Rico and 64% is from public corporations and the central government and agencies.

 

In addition, as of March 31, 2020, the Corporation had $240.7 million of government deposits in the Virgin Islands region (December 31, 2019 - $227.7 million) and $7.6 million in the Florida region (December 31, 2019 - $7.6 million).

 

Retail deposits – The Corporation’s deposit products also include regular savings accounts, demand deposit accounts, money market accounts and retail CDs. Total deposits, excluding brokered deposits and government deposits, increased by $91.2 million to $7.8 billion from a balance of $7.7 billion as of December 31, 2019, reflecting an increase of $150.5 million in the Puerto Rico region, partially offset by decreases of $46.7 million and $12.6 million in the Florida and Virgin Islands regions, respectively. The variance in the Puerto Rico region included increases in retail time deposits, as well as savings and demand deposit account balances. The decrease in the Florida region was primarily reflected in retail time deposits.

 

Refer to Net Interest Income above for information about average balances of interest-bearing deposits, and the average interest rate paid on deposits for the quarters ended March 31, 2020 and 2019.

 

Securities sold under agreements to repurchase - The Corporation’s investment portfolio is funded in part with repurchase agreements. The Corporation’s outstanding securities sold under repurchase agreements amounted to $300.0 million as of March 31, 2020 and December 31, 2019. One of the Corporation’s strategies has been the use of structured repurchase agreements and long-term repurchase agreements to reduce liquidity risk and manage exposure to interest rate risk by lengthening the final maturities of its liabilities while keeping funding costs at reasonable levels. In addition to these repurchase agreements, the Corporation has been able to maintain access to credit by using cost-effective sources such as FHLB advances. See Note 18, Securities Sold Under Agreements To Repurchase, in the Corporation’s unaudited consolidated financial statements for the quarter ended March 31, 2020 for further details about repurchase agreements outstanding by counterparty and maturities.

 

During the first quarter of 2020, the Corporation exercised its call option on $200 million of reverse repurchase agreements that were previously offset in the 2019 statement of financial condition against variable-rate repurchase agreements, pursuant to ASC topic 210-20-45-11, “Balance Sheet – Offsetting – Repurchase and Reverse Repurchase Agreements.

 

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Under the Corporation’s repurchase agreements, as is the case with derivative contracts, the Corporation is required to pledge cash or qualifying securities to meet margin requirements. To the extent that the value of securities previously pledged as collateral declines due to changes in interest rates, a liquidity crisis or any other factor, the Corporation is required to deposit additional cash or securities to meet its margin requirements, thereby adversely affecting its liquidity.

Given the quality of the collateral pledged, the Corporation has not experienced margin calls from counterparties arising from credit-quality-related write-downs in valuations.

Advances from the FHLB – The Bank is a member of the FHLB system and obtains advances to fund its operations under a collateral agreement with the FHLB that requires the Bank to maintain qualifying mortgages and/or investments as collateral for advances taken. As of March 31, 2020 and December 31, 2019, the outstanding balance of FHLB advances, which were primarily long-term fixed-rate advances, was $565.0 million and $570.0 million, respectively. As of March 31, 2020, the Corporation had $529.4 million available for additional credit on FHLB lines of credit.

 

Trust-Preferred Securities – In 2004, FBP Statutory Trust I, a statutory trust that is wholly-owned by the Corporation and not consolidated in the Corporation’s financial statements, sold to institutional investors $100 million of its variable-rate TRuPs. FBP Statutory Trust I used the proceeds of the issuance, together with the proceeds of the purchase by the Corporation of $3.1 million of FBP Statutory Trust I variable rate common securities, to purchase $103.1 million aggregate principal amount of the Corporation’s junior subordinated deferrable debentures.

 

Also in 2004, FBP Statutory Trust II, a statutory trust that is wholly-owned by the Corporation and not consolidated in the Corporation’s financial statements, sold to institutional investors $125 million of its variable-rate TRuPs. FBP Statutory Trust II used the proceeds of the issuance, together with the proceeds of the purchase by the Corporation of $3.9 million of FBP Statutory Trust II variable rate common securities, to purchase $128.9 million aggregate principal amount of the Corporation’s junior subordinated deferrable debentures.

 

The subordinated debentures are presented in the Corporation’s consolidated statement of financial condition as other borrowings. The variable-rate TRuPs are fully and unconditionally guaranteed by the Corporation. The $100 million junior subordinated deferrable debentures issued by the Corporation in April 2004 and the $125 million issued in September 2004 mature on June 17, 2034 and September 20, 2034, respectively; however, under certain circumstances, the maturity of the subordinated debentures may be shortened (such shortening would result in a mandatory redemption of the variable-rate TRuPs). The Collins Amendment of the Dodd-Frank Act eliminated certain TRuPs from Tier 1 Capital. Bank holding companies, such as the Corporation, were required to fully phase out these instruments from Tier I capital by January 1, 2016; however, they may remain in Tier 2 capital until the instruments are redeemed or mature.

 

As of each of March 31, 2020 and December 31, 2019, the Corporation had subordinated debentures outstanding in the aggregate amount of $184.2 million. As of March 31, 2020, the Corporation was current on all interest payments due related to its subordinated debentures.

 

Other Sources of Funds and Liquidity - The Corporation’s principal uses of funds are for the origination of loans and the repayment of maturing deposits and borrowings. In connection with its mortgage banking activities, the Corporation has invested in technology and personnel to enhance the Corporation’s secondary mortgage market capabilities.

 

 

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The enhanced capabilities improve the Corporation’s liquidity profile as they allow the Corporation to derive liquidity, if needed, from the sale of mortgage loans in the secondary market. The U.S. (including Puerto Rico) secondary mortgage market is still highly-liquid, in large part because of the sale of mortgages through guarantee programs of the FHA, VA, U.S. Department of Housing and Urban Development (“HUD”), FNMA and FHLMC. During the first quarter of 2020, the Corporation sold approximately $60.9 million of FHA/VA mortgage loans to GNMA, which packages them into MBS.

 

In addition, the FED has taken several steps to promote economic and financial stability in response to the significant economic disruption caused by the COVID-19 pandemic. These actions are intended to stimulate economic activity by reducing interest rates and provide liquidity to financial markets so that firms have access to needed funding. Federal funds target rates were lowered to a range of 0% to 0.25%, making de FED Discount Window Program a viable source of funding given the highly-volatile market conditions. As of March 31, 2020, the Corporation had $60 million outstanding in short-term borrowings from the Primary Credit FED Discount Window Program with a rate of 0.25% and had approximately $758 million available for additional funding under this program.

 

Although currently not in use, other potential sources of short-term funding for the Corporation include commercial paper and federal funds purchased. Furthermore, in previous years, the Corporation entered into several financing transactions to diversify its funding sources, including the issuance of notes payable and, as noted above, junior subordinated debentures, as part of its longer-term liquidity and capital management activities.

 

Effect of Credit Ratings on Access to Liquidity

The Corporation’s liquidity is contingent upon its ability to obtain external sources of funding to finance its operations. The Corporation’s current credit ratings and any downgrade in credit ratings can hinder the Corporation’s access to new forms of external funding and/or cause external funding to be more expensive, which could, in turn, adversely affect results of operations. Also, changes in credit ratings may further affect the fair value of unsecured derivatives whose value takes into account the Corporation’s own credit risk.

The Corporation does not have any outstanding debt or derivative agreements that would be affected by credit rating downgrades. Furthermore, given the Corporation’s non-reliance on corporate debt or other instruments directly linked in terms of pricing or volume to credit ratings, the liquidity of the Corporation has not been affected in any material way by downgrades. The Corporation’s ability to access new non-deposit sources of funding, however, could be adversely affected by credit downgrades.

As of the date hereof, the Corporation’s credit as a long-term issuer is rated B+ by S&P and B+ by Fitch. As of the date hereof, FirstBank’s credit ratings as a long-term issuer are B3 by Moody’s, six notches below their definition of investment grade; BB- by S&P, three notches below their definition of investment grade; and B+ by Fitch, four notches below their definition of investment grade. The Corporation’s credit ratings are dependent on a number of factors, both quantitative and qualitative, and are subject to change at any time. The disclosure of credit ratings is not a recommendation to buy, sell or hold the Corporation’s securities. Each rating should be evaluated independently of any other rating.

 

Cash Flows

 

Cash and cash equivalents were $1.1 billion as of March 31, 2020, an increase of $443.6 million when compared to the balance as of December 31, 2019. The following discussion highlights the major activities and transactions that affected the Corporation’s cash flows during the first quarter of 2020 and 2019.

 

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Cash Flows from Operating Activities

First BanCorp.’s operating assets and liabilities vary significantly in the normal course of business due to the amount and timing of cash flows. Management believes that cash flows from operations, available cash balances and the Corporation’s ability to generate cash through short- and long-term borrowings will be sufficient to fund the Corporation’s operating liquidity needs for the foreseeable future.

 

For the first quarters of 2020 and 2019, net cash provided by operating activities was $91.5 million and $83.0 million, respectively. Net cash generated from operating activities was higher than reported net income largely as a result of adjustments for items such as the provision for credit losses, depreciation and amortization, as well as the cash generated from sales of loans held for sale.

Cash Flows from Investing Activities

 

The Corporation’s investing activities primarily relate to originating loans to be held for investment, as well as purchasing, selling and repaying available-for-sale and held-to-maturity investment securities. For the quarter ended March 31, 2020, net cash used in investing activities was $105.6 million, primarily due to liquidity used to fund commercial and consumer loan originations and purchases of U.S. agencies MBS and bonds, partially offset by principal collected on loans and U.S. agencies MBS prepayments, as well as proceeds from U.S. agencies bonds called prior to maturity.

 

For the quarter ended March 31, 2019, net cash used in investing activities was $105.5 million, primarily due to liquidity used to fund commercial and consumer loan originations, partially offset by principal collected on loans and U.S. agencies MBS prepayments.

 

Cash Flows from Financing Activities

The Corporation’s financing activities primarily include the receipt of deposits and the issuance of brokered CDs, the issuance of and payments on long-term debt, the issuance of equity instruments and activities related to its short-term funding. For the first quarter of 2020, net cash provided by financing activities was $457.7 million, mainly reflecting an increase in non-brokered deposits, short-term funding obtained from the Primary Credit FED Discount Window Program, and proceeds from the early cancellation of long-term reverse repurchase agreements that were previously offset against variable-rate repurchase agreements in the 2019 consolidated statement of financial condition, partially offset by dividends paid on common and preferred stock.

For the first quarter of 2019, net cash provided by financing activities was $25.3 million, mainly reflecting the growth in non-brokered deposits, partially offset by the repayment of a matured short-term repurchase agreement and dividends paid on common and preferred stock.

 

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Capital

As of March 31, 2020, the Corporation’s stockholders’ equity was $2.2 billion, a decrease of $28.3 million from December 31, 2019. The decrease was driven by the $62.3 million transition adjustment related to the adoption of CECL recorded against beginning retained earnings, and common and preferred stock dividends declared in the first quarter of 2020 totaling $11.6 million, partially offset by the earnings generated in the first quarter, and an increase of approximately $50 million in the fair value of available-for-sale investment securities recorded as part of other comprehensive income. The Corporation intends to continue to pay monthly dividend payments on the preferred stock and quarterly dividends on common stock.

 

	Set forth below are First BanCorp.'s and FirstBank's regulatory capital ratios as of March 31, 2020 and December 31, 2019:
				Banking Subsidiary
		First BanCorp. (1)		FirstBank (1)	To be well capitalized thresholds
As of March 31, 2020
Total capital ratio (Total capital to risk-weighted assets)		25.42%		24.91%	10.00%
Common Equity Tier 1 capital ratio
(Common equity Tier 1 capital to risk weighted assets)		21.79%		20.26%	6.50%
Tier 1 capital ratio (Tier 1 capital to risk-weighted assets)		22.19%		23.65%	8.00%
Leverage ratio		15.98%		17.05%	5.00%
(1)	As permitted by the regulatory capital framework, the Corporation elected to delay for two years the day-one impact related to the adoption of CECL on January 1, 2020 plus 25% of the change in the ACL from January 1, 2020 to December 31, 2021. Such effects, will be phased in at 25% per year beginning on January 1, 2022.
				Banking Subsidiary
		First BanCorp		FirstBank	To be well capitalized thresholds
As of December 31, 2019
Total capital (Total capital to risk-weighted assets)		25.22%		24.74%	10.00%
Common Equity Tier 1 capital ratio
(Common equity Tier 1 capital to risk weighted assets)		21.60%		20.09%	6.50%
Tier 1 capital ratio (Tier 1 capital to risk-weighted assets)		22.00%		23.49%	8.00%
Leverage ratio		16.15%		17.26%	5.00%

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Although the Corporation and FirstBank became subject to the Basel III rules beginning on January 1, 2015, the federal banking agencies have deferred certain elements of the Basel III rules. The Corporation and FirstBank compute risk-weighted assets using the Standardized Approach required by the Basel III rules.

 

The Basel III rules require the Corporation to maintain an additional capital conservation buffer of 2.5% of additional Common Equity Tier 1 Capital (“CET1”) to avoid limitations on both (i) capital distributions (e.g., repurchases of capital instruments, dividends and interest payments on capital instruments,) and (ii) discretionary bonus payments to executive officers and heads of major business lines.

 

Under the Basel III rules, in order to be considered adequately capitalized and not subject to the above described limitations, the Corporation is required to maintain: (i) a minimum CET1 capital to risk-weighted assets ratio of at least 4.5%, plus the 2.5% “capital conservation buffer,” resulting in a required minimum CET1 ratio of at least 7%; (ii) a minimum ratio of total Tier 1 capital to risk-weighted assets of at least 6.0%, plus the 2.5% capital conservation buffer, resulting in a required minimum Tier 1 capital ratio of 8.5%; (iii) a minimum ratio of total Tier 1 plus Tier 2 capital to risk-weighted assets of at least 8.0%, plus the 2.5% capital conservation buffer, resulting in a required minimum total capital ratio of 10.5%; and (iv) a required minimum leverage ratio of 4%, calculated as the ratio of Tier 1 capital to average on-balance sheet (non-risk adjusted) assets.

 

In addition, as required under the Basel III rules, the Corporation’s TRuPs were fully phased-out from Tier 1 capital as of January 1, 2016. However, the Corporation’s TRuPs may continue to be included in Tier 2 capital until the instruments are redeemed or mature.

 

The Federal Reserve Board, the FDIC, and the Office of the Comptroller of the Currency (collectively “the agencies”) have issued several rulemakings over the last two years to simplify certain aspects of the capital rule. For example, the capital rule included transitional arrangements for mortgage servicing assets, temporary difference deferred tax assets, and investments in the capital of unconsolidated financial institutions that a banking organization did not deduct from CET1 capital. In 2017, the agencies adopted a transition rule to allow non-advanced approaches banking organizations, such as the Corporation and FirstBank, to continue to apply the transition treatment in effect in 2017 (including the 100 percent risk weight for mortgage servicing assets, temporary difference deferred tax assets, and significant investments in the capital of unconsolidated financial institutions instead of the 250 percent risk weight required under the Basel III rules) while the agencies considered the simplifications proposal.

 

On July 9, 2019, the agencies adopted a final rule that supersedes the regulatory capital transition rules and eliminates the transition provisions that are no longer operative. The final rule was generally effective April 1, 2020, with early adoption permitted on January 1, 2020, and eliminates: (i) the 10% CET1 capital deduction threshold, which applies individually to holdings of mortgage servicing assets, temporary difference deferred tax assets, and significant investments in the capital of unconsolidated financial institutions in the form of common stock; (ii) the 15% CET1 capital deduction threshold, which applies to the aggregate amount of such items; (iii) the 10% threshold for non-significant investments, which applies to holdings of regulatory capital of unconsolidated financial institutions; and (iv) the deduction treatment for significant investments in the capital of unconsolidated financial institutions that are not in the form of common stock. Instead, the final rule requires non-advanced approaches banking organizations to deduct from CET1 capital any amount of mortgage servicing assets, temporary difference deferred tax assets, and investments in the capital of unconsolidated financial institutions that individually exceeds 25% of CET1 capital of the banking organization (the 25% common equity tier 1 capital deduction threshold). The final rule retains the deferred requirement that a banking organization must apply a 250% risk weight to non-deducted mortgage servicing assets or temporary difference deferred tax assets. The Corporation adopted the provisions of this rule on April 1, 2020. On a pro-forma basis, the Corporation’s CET1 capital, Tier 1 capital, Total capital, and Leverage regulatory capital ratios incorporating changes required by this final rule as if they were effective as of March 31, 2020 would have been 21.24%, 21.63%, 24.81%, and 15.98%, respectively.

 

As part of its response to the impact of COVID-19, on March 31, 2020, the FED, the FDIC and Office of the Comptroller of the Currency issued an interim final rule that provided the option to temporarily delay the effects of CECL on regulatory capital for two years, followed by a three-year transition period. The interim final rule provides that the day 1 impact to retained earnings plus 25% of the change in the ACL (excluding loans purchased with credit deterioration (“PCD loans”)) from January 1, 2020 to December 31, 2021 will be delayed for two years and phased-in at 25% per year beginning on January 1, 2022. Accordingly, as of March 31, 2020, the capital measures of the Corporation and the Bank shown in the table above exclude the $62.3 million day 1 impact to retained earnings and 25% of the increase in the allowance for credit losses (as defined in the final rue) from January 1, 2020 to March 31, 2020. The federal financial regulatory agencies may take other measures affecting regulatory capital to address the COVID-19 pandemic, although the nature and impact of such measures cannot be predicted at this time.

 

The tangible common equity ratio and tangible book value per common share are non-GAAP financial measures generally used by the financial community to evaluate capital adequacy. Tangible common equity is total equity less preferred equity, goodwill, core deposit intangibles, purchased credit card relationship assets and insurance customer relationship intangible asset. Tangible assets are total assets less intangible assets such as goodwill, core deposit intangibles, purchased credit card relationships and insurance customer asset relationships. See “Basis of Presentation” below for additional information.

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The following table is a reconciliation of the Corporation’s tangible common equity and tangible assets, non-GAAP financial measures, to total equity and total assets, respectively, as of March 31, 2020 and December 31, 2019, respectively:

 

		March 31,			December 31,
	(In thousands, except ratios and per share information)	2020			2019
	Total equity - GAAP	$	2,199,751		$	2,228,073
	Preferred equity		(36,104)			(36,104)
	Goodwill		(28,098)			(28,098)
	Purchased credit card relationship intangible		(3,141)			(3,615)
	Core deposit intangible		(3,287)			(3,488)
	Insurance customer relationship intangible		(432)			(470)
	Tangible common equity	$	2,128,689		$	2,156,298
	Total assets - GAAP	$	13,047,977		$	12,611,266
	Goodwill		(28,098)			(28,098)
	Purchased credit card relationship intangible		(3,141)			(3,615)
	Core deposit intangible		(3,287)			(3,488)
	Insurance customer relationship intangible		(432)			(470)
	Tangible assets	$	13,013,019		$	12,575,595
	Common shares outstanding		218,161			217,359
	Tangible common equity ratio		16.36%			17.15%
	Tangible book value per common share	$	9.76		$	9.92

 

The Banking Law of the Commonwealth of Puerto Rico requires that a minimum of 10% of FirstBank’s net income for the year be transferred to a legal surplus reserve until such surplus equals the total of paid-in-capital on common and preferred stock. Amounts transferred to the legal surplus reserve from retained earnings are not available for distribution to the Corporation, including for payment as dividends to the stockholders, without the prior consent of the Puerto Rico Commissioner of Financial Institutions. The Puerto Rico Banking Law provides that, when the expenditures of a Puerto Rico commercial bank are greater than receipts, the excess of the expenditures over receipts must be charged against the undistributed profits of the bank, and the balance, if any, must be charged against the legal surplus reserve, as a reduction thereof. If there is no legal surplus reserve sufficient to cover such balance in whole or in part, the Corporation must charge the outstanding amount against the capital account and the Bank cannot pay dividends until it can replenish the legal surplus reserve to an amount of at least 20% of the original capital contributed. FirstBank’s legal surplus reserve, included as part of retained earnings in the Corporation’s consolidated statements of financial condition, amounted to $97.6 million as of March 31, 2020 and December 31, 2019. There were no transfers to the legal surplus reserve during the quarter ended March 31, 2020.

 

Off -Balance Sheet Arrangements

 

In the ordinary course of business, the Corporation engages in financial transactions that are not recorded on the balance sheet, or may be recorded on the balance sheet in amounts that are different from the full contract or notional amount of the transaction. These transactions are designed to (1) meet the financial needs of customers, (2) manage the Corporation’s credit, market and liquidity risks, (3) diversify the Corporation’s funding sources, and (4) optimize capital.

 

As a provider of financial services, the Corporation routinely enters into commitments with off-balance sheet risk to meet the financial needs of its customers. These financial instruments may include loan commitments and standby letters of credit. These commitments are subject to the same credit policies and approval processes used for on-balance sheet instruments. These instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the statements of financial condition. As of March 31, 2020, the Corporation’s commitments to extend credit amounted to approximately $1.4 billion, of which $692.4 million related to credit card loans. Commercial and financial standby letters of credit amounted to approximately $73.9 million.

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Contractual Obligations and Commitments
The following table presents information about the maturities of the Corporation’s contractual obligations and commitments, which consist of CDs, long-term contractual debt obligations, commitments to sell mortgage loans and commitments to extend credit:
		Contractual Obligations and Commitments
		As of March 31, 2020
		Total			Less than 1 year			1-3 years			3-5 years			After 5 years
(In thousands)
Contractual obligations:
Certificates of deposit		$	3,148,919		$	1,861,886		$	1,014,884		$	265,685		$	6,464
Securities sold under agreements to repurchase			300,000			-			100,000			200,000			-
Advances from FHLB			565,000			125,000			440,000			-			-
Loans payable			60,000			60,000			-			-			-
Other borrowings			184,150			-			-			-			184,150
Operating leases			74,809			10,233			17,557			13,117			33,902
Total contractual obligations		$	4,332,878		$	2,057,119		$	1,572,441		$	478,802		$	224,516
Commitments to sell mortgage loans		$	5,023
Standby letters of credit		$	4,472
Commitments to extend credit:
Lines of credit		$	1,210,938
Letters of credit			69,472
Construction undisbursed funds			189,440
Total commercial commitments		$	1,469,850

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The Corporation has obligations and commitments to make future payments under contracts, such as debt and lease agreements, and under other commitments to sell mortgage loans at fair value and to extend credit. Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Since certain commitments are expected to expire without being drawn upon, the total commitment amount does not necessarily represent future cash requirements. For most of the commercial lines of credit, the Corporation has the option to reevaluate the agreement prior to additional disbursements. There have been no significant or unexpected draws on existing commitments. In the case of credit cards and personal lines of credit, the Corporation can cancel the unused credit facility at any time and without cause.

 

Interest Rate Risk Management

 

First BanCorp. manages its asset/liability position in order to limit the effects of changes in interest rates on net interest income and to maintain stability of profitability under varying interest rate scenarios. The MIALCO oversees interest rate risk, and, in doing so, the MIALCO assesses, among other things, current and expected conditions in world financial markets, competition and prevailing rates in the local deposit market, liquidity, the pipeline of loan originations, securities market values, recent or proposed changes to the investment portfolio, alternative funding sources and related costs, hedging and the possible purchase of derivatives, such as swaps and caps, and any tax or regulatory issues that may be pertinent to these areas. The MIALCO approves funding decisions in light of the Corporation’s overall strategies and objectives.

 

On a quarterly basis, the Corporation performs a consolidated net interest income simulation analysis to estimate the potential change in future earnings from projected changes in interest rates. The Corporation carries out these simulations over a one-to-five-year time horizon and assumes upward and downward yield curve shifts. The rate scenarios considered in these simulations reflect gradual upward and downward interest rate movements of 200 basis points during a twelve-month period. The Corporation carries out the simulations in two ways:

 

(1) Using a static balance sheet, as the Corporation had on the simulation date, and

 

(2) Using a dynamic balance sheet based on recent patterns and current strategies.

 

The balance sheet is divided into groups of assets and liabilities by maturity or re-pricing structure and their corresponding interest rate yields and costs. As interest rates rise or fall, these simulations incorporate expected future lending rates, current and expected future funding sources and costs, the possible exercise of options, changes in prepayment rates, deposit decay and other factors, which may be important in projecting net interest income.

 

The Corporation uses a simulation model to project future movements in the Corporation’s balance sheet and income statement. The starting point of the projections corresponds to the actual values on the balance sheet on the date of the simulations.

 

These simulations are highly complex, and are based on many assumptions that are intended to reflect the general behavior of the balance sheet components over the period in question. It is unlikely that actual events will match these assumptions in most cases. For this reason, the results of these forward-looking computations are only approximations of the true sensitivity of net interest income to changes in market interest rates. The Corporation uses several benchmark and market rate curves in the modeling process, primarily the LIBOR/SWAP curve, Prime, Treasury, FHLB rates, brokered CD rates, repurchase agreement rates and the mortgage commitment rate of 30 years.

 

As of March 31, 2020, the Corporation forecasted the 12-month net interest income assuming March 31, 2020 interest rate curves remain constant. Then, net interest income was estimated under rising and falling rate scenarios. For the rising rates scenario, the Corporation assumed a gradual (ramp) parallel upward shift of the yield curve during the first 12 months (the “+200 ramp” scenario). Conversely, for the falling rates scenario, it assumed a gradual (ramp) parallel downward shift of the yield curve during the first 12 months (the “-200 ramp” scenario). However, given the current low levels of interest rates, along with the current yield curve slope, a full downward shift of 200 basis points would represent an unrealistic scenario. Therefore, under the falling rate scenario, rates move downward up to 200 basis points, but without reaching zero. The resulting scenario shows interest rates close to zero in most cases, reflecting a flattening yield curve instead of a parallel downward scenario.

 

The Libor/Swap curve for March 2020, as compared to December 2019, reflected a 79 basis points reduction in the short-term horizon, between 1 to 12 months, while market rates also decreased by 122 basis points in the medium term, that is, between 2 to 5 years. In the long-term, that is, over a 5-year-time horizon, market rates decreased by 119 basis points, with an inversion in mid-terms of the curve. The U.S. Treasury curve in the short-term horizon decreased by 144 basis points and in the medium-term horizon decreased by 133 basis points, as compared to the December 2019 end of month levels. The long-term horizon decreased by 112 basis points as compared to December 2019 end of month levels.

 

The following table presents the results of the simulations as of March 31, 2020 and December 31, 2019. Consistent with prior years, these exclude non-cash changes in the fair value of derivatives:

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	March 31, 2020												December 31, 2019
	Net Interest Income Risk												Net Interest Income Risk
	(Projected for the next 12 months)												(Projected for the next 12 months)
	Static Simulation						Growing Balance Sheet						Static Simulation						Growing Balance Sheet
(Dollars in millions)	Change			% Change			Change			% Change			Change			% Change			Change			% Change
+ 200 bps ramp	$	19.5		3.66	%		$	17.7		3.14	%		$	15.9		2.85	%		$	19.6		3.32	%
- 200 bps ramp	$	(4.1)		(0.77)	%		$	(4.8)		(0.86)	%		$	(21.4)		(3.84)	%		$	(25.1)		(4.25)	%

 

The Corporation continues to manage its balance sheet structure to control and limit the overall interest rate risk. As of March 31, 2020, the simulations showed that the Corporation continues to maintain an asset-sensitive position. The Corporation has continued repositioning the balance sheet and improving the funding mix, mainly driven by an increase in the average balance of interest-bearing deposits with low rate elasticity, and replacing FHLB Advances with short-term funding from the Primary Credit FED Discount Window Program, which represent a low-cost source of funding. The above-mentioned growth in deposits, along with proceeds from loan repayments have contributed to fund the continued increment in the consumer and commercial loan portfolios, while maintaining higher liquidity levels.

 

Taking into consideration the above-mentioned facts for modeling purposes, as of March 31, 2020, the net interest income for the next 12 months under a growing balance sheet scenario was estimated to increase by $17.7 million in the rising rate scenario when compared against the Corporation’s flat or unchanged interest rate forecast scenario, compared to an estimated increase of $19.6 million as of December 31, 2019. Under the falling rate, growing balance sheet scenario, the net interest income was estimated to decrease by $4.8 million compared to an estimated decrease of $25.1 million as of December 31, 2019, reflecting the effect of current low levels of market interest rates on the base scenario and the model assumptions for the falling rate scenarios described above (i.e., no negative interest rates modeled).

 

Derivatives

 

First BanCorp. uses derivative instruments and other strategies to manage its exposure to interest rate risk caused by changes in interest rates beyond management’s control.

 

The following summarizes major strategies, including derivative activities that the Corporation uses in managing interest rate risk:

 

Interest rate cap agreements - Interest rate cap agreements provide the right to receive cash if a reference interest rate rises above a contractual rate. The value of the interest rate cap increases as the reference interest rate rises. The Corporation enters into interest rate cap agreements for protection from rising interest rates.

 

Forward contracts - Forward contracts are sales of TBAs that will settle over the standard delivery date and do not qualify as “regular way” security trades. Regular-way security trades are contracts that have no net settlement provision and no market mechanism to facilitate net settlement and that provide for delivery of a security within the timeframe generally established by regulations or conventions in the market-place or exchange in which the transaction is being executed. The forward sales are considered derivative instruments that need to be marked-to-market. The Corporation uses these securities to economically hedge the FHA/VA residential mortgage loan securitizations of the mortgage-banking operations. The Corporation also reports as forward contracts the mandatory mortgage loan sales commitments entered into with GSEs that require or permit net settlement via a pair-off transaction or the payment of a pair-off fee. Unrealized gains (losses) are recognized as part of mortgage banking activities in the consolidated statements of income.

 

Interest Rate Lock Commitments – Interest rate lock commitments are agreements under which the Corporation agrees to extend credit to a borrower under certain specified terms and conditions in which the interest rate and the maximum amount of the loan are set prior to funding. Under the agreement, the Corporation commits to lend funds to a potential borrower generally on a fixed rate basis, regardless of whether interest rates change in the market.

 

For detailed information regarding the volume of derivative activities (e.g., notional amounts), location and fair values of derivative instruments in the consolidated statements of financial condition and the amount of gains and losses reported in the consolidated statements of income, see Note 12, – Derivative Instruments and Hedging Activities, in the accompanying unaudited consolidated financial statements.

 

The following tables summarize the fair value changes in the Corporation’s derivatives, as well as the sources of the fair values, as of or for the indicated dates or periods:
	Asset Derivatives			Liability Derivatives
	Quarter Ended			Quarter Ended

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(In thousands)	March 31, 2020			March 31, 2020
Fair value of contracts outstanding at the beginning
of the period	$	372		$	(149)
Changes in fair value during the period		(40)			(663)
Fair value of contracts outstanding as of March 31, 2020	$	332		$	(812)

 

	Sources of Fair Value
					Payment Due by Period
									Maturity 1-3 Years			Maturity 3-5 Years			Maturity in Excess of 5 Years			Total Fair Value
					Maturity
(In thousands)					Less Than One Year
As of March 31, 2020
Pricing from observable market inputs -
Asset Derivatives						$	323		$	-		$	9		$	-		$	332
Pricing from observable market inputs -
Liability Derivatives							(803)			-			(9)			-			(812)
						$	(480)		$	-		$	-		$	-		$	(480)

 

Derivative instruments, such as interest rate caps, are subject to market risk. As is the case with investment securities, the market value of derivative instruments is largely a function of the financial market’s expectations regarding the future direction of interest rates. Accordingly, current market values are not necessarily indicative of the future impact of derivative instruments on earnings. This will depend, in part, on the level of interest rates, as well as expectations for rates in the future.

 

As of March 31, 2020 and December 31, 2019, the Corporation considers all of its derivative instruments as undesignated economic hedges.

 

The use of derivatives involves market and credit risk. The market risk of derivatives stems principally from the potential for changes in the value of derivative contracts based on changes in interest rates. The credit risk of derivatives arises from the potential for default of the counterparty. To manage this credit risk, the Corporation deals with counterparties that it considers to be of good credit standing, enters into master netting agreements whenever possible and, when appropriate, obtains collateral. Master netting agreements incorporate rights of set-off that provide for the net settlement of contracts with the same counterparty in the event of default.

 

Credit Risk Management

 

First BanCorp. is subject to credit risk mainly with respect to its portfolio of loans receivable and off-balance-sheet instruments, mainly loan commitments. Loans receivable represents loans that First BanCorp. holds for investment and, therefore, First BanCorp. is at risk for the term of the loan. Loan commitments represent commitments to extend credit, subject to specific conditions, for specific amounts and maturities. These commitments may expose the Corporation to credit risk and are subject to the same review and approval process as for loans made by the Bank. See “Contractual Obligations and Commitments” above for further details. The Corporation manages its credit risk through its credit policy, underwriting, independent loan review and quality control procedures, statistical analysis, comprehensive financial analysis, and established management committees. The Corporation also employs proactive collection and loss mitigation efforts. Furthermore, personnel performing structured loan workout functions are responsible for mitigating defaults and minimizing losses upon default within each region and for each business segment. In the case of the commercial and industrial (“C&I”), commercial mortgage and construction loan portfolios, the Special Asset Group (“SAG”) focuses on strategies for the accelerated reduction of non-performing assets through note sales, short sales, loss mitigation programs, and sales of OREO. In addition to the management of the resolution process for problem loans, the SAG oversees collection efforts for all loans to prevent migration to the nonaccrual and/or adversely classified status. The SAG utilizes relationship officers, collection specialists and attorneys. In the case of residential construction projects, the workout function monitors project specifics, such as project management and marketing, as deemed necessary.

 

The Corporation may also have risk of default in the securities portfolio. The securities held by the Corporation are principally fixed-rate U.S. agency MBS and U.S. Treasury and agencies securities. Thus, a substantial portion of these instruments is backed by mortgages, a guarantee of a U.S. GSE or the full faith and credit of the U.S. government.

 

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Management, consisting of the Corporation’s Commercial Credit Risk Officer, Retail Credit Risk Officer, Chief Lending Officer and other senior executives, has the primary responsibility for setting strategies to achieve the Corporation’s credit risk goals and objectives. Management has documented these goals and objectives in the Corporation’s Credit Policy.

 

 

Allowance for Credit Losses and Non-performing Assets

 

Allowance for Credit Losses for Loans and Finance Leases

 

The allowance for credit losses for loans and finance leases represents the estimate of the level of reserves appropriate to absorb expected credit losses over the estimated life of the loans. The amount of the allowance is determined using relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Historical credit loss experience is a significant input for the estimation of expected credit losses, as well as adjustments to historical loss information made for differences in current loan-specific risk characteristics, such as differences in underwriting standards, portfolio mix, delinquency level, or term. Additionally, the Corporation’s assessment involves evaluating key factors, which include credit and macroeconomic indicators, such as changes in unemployment rates, property values, and other relevant factors to account for current and forecasted market conditions that are likely to cause estimated credit losses over the life of the loans to differ from historical credit losses. Such factors are subject to regular review and may change to reflect updated performance trends and expectations, particularly in times of severe stress. The process includes judgments and quantitative elements that may be subject to significant change. An internal risk rating is assigned to each business loan at the time of approval and is subject to subsequent periodic reviews by the Corporation’s senior management. The allowance for credit losses for loans and finance leases is reviewed at least on a quarterly basis as part of the Corporation’s continued evaluation of its asset quality.

The ACL for loans and finance leases was $155.1 million as of December 31, 2019. Upon adoption of CECL on January 1, 2020, the Corporation recognized an increase in the ACL for loans and finance leases of approximately $81.2 million, as a cumulative effect adjustment from a change in accounting policy, with a corresponding decrease in retained earnings, net of applicable income taxes. As of March 31, 2020, the ACL for loans and finance leases was $292.8 million, up $137.7 million from December 31, 2019, driven by the $81.2 million increase as a result of adopting CECL and a $56.5 million reserve build (i.e., the provision of $74.0 million in excess of the net charge-offs of $17.6 million) in the first quarter of 2020. The increase in the ACL for loans and finance leases primarily reflects the effect of a deteriorating economic outlook due to the COVID-19 pandemic across all loan portfolio categories. Refer to Note 1, - Basis of Presentation and Significant Accounting Policies, in the accompanying unaudited consolidated financial statements for additional information about the day-one impact of the CECL adoption by portfolio segments and description of the methodologies used by the Corporation to determine the ACL.

The ratio of the allowance for credit losses for loan and finance leases to total loans held for investment increased to 3.24% as of March 31, 2020, compared to 1.72% as of December 31, 2019, driven by the adoption of CECL and the effect of the COVID-19 pandemic on forecasted economic conditions. The change for each portfolio follows:

 

 

 The allowance to total loans ratio for the residential mortgage portfolio increased from 1.53% as of December 31, 2019 to 3.72% as of March 31, 2020, primarily due to the effect of the CECL adoption on longer duration portfolios and the effect of the COVID-19 pandemic on forecasted economic conditions.

 

 The allowance to total loans ratio for the commercial mortgage portfolio decreased from 2.71% as of December 31, 2019 to 2.34% as of March 31, 2020, reflecting, among other things, the effect of macroeconomic variables considered for this shorter-term portfolio that smoothed the effect of historical losses at the time of the CECL adoption on January 1, 2020, partially offset by the charges to the provision recorded in the first quarter related to the effect of the COVID-19 pandemic.

 

 The allowance to total loans ratio for the C&I portfolio increased from 0.68% as of December 31, 2019 to 1.71% as of March 31, 2020, reflecting the effect of the CECL adoption and the effect of the COVID-19 pandemic on forecasted economic conditions.

 

 The allowance to total loans ratio for the construction loan portfolio increased from 2.13% as of December 31, 2019 to 3.29% as of March 31, 2020, primarily as a result of the effect of the COVID-19 pandemic on forecasted economic conditions.

 

 The allowance to total loans ratio for the consumer loan portfolio increased from 2.35% as of December 31, 2019 to 4.68% as of March 31, 2020, primarily reflecting the effect of the CECL adoption on longer duration portfolios and the effect of the COVID-19 pandemic on forecasted economic conditions.

 

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The ratio of the total allowance to nonaccrual loans held for investment was 137.91% as of March 31, 2020, compared to 73.64% as of December 31, 2019.

 

Substantially all of the Corporation’s loan portfolio is located within the boundaries of the U.S. economy. Whether the collateral is located in Puerto Rico, the U.S. and British Virgin Islands or the U.S. mainland (mainly in the state of Florida), the performance of the Corporation’s loan portfolio and the value of the collateral supporting the transactions are dependent upon the performance of and conditions within each specific area’s real estate market. The real estate market in Puerto Rico experienced readjustments in value driven by reduced demand and general adverse economic conditions. The Corporation believes it sets adequate loan-to-value ratios following its regulatory and credit policy standards.

 

As shown in the following table, the allowance for credit losses for loans and finance leases amounted to $292.8 million as of March 31, 2020, or 3.24% of total loans, compared with $155.1 million, or 1.72% of total loans, as of December 31, 2019. See “Results of Operation - Provision for Credit Losses” above for additional information.

 

 

		Quarter Ended March 31
(Dollars in thousands)		2020				2019
Allowance for credit losses for loans and finance leases, beginning of period, prior to adoption of ASC 326		$	155,139			$	196,362
Impact of adopting ASC 326			81,165				-
Provision (release) for credit losses:
Residential Mortgage			16,218				6,639
Commercial Mortgage			14,167				121
Commercial and Industrial (1)			8,391				(5,009)
Construction			2,062				(95)
Consumer and Finance Leases (2)			33,207				10,164
Total provision for credit losses for loans and finance leases (3)		$	74,045			$	11,820
Charge-offs
Residential Mortgage		$	(4,435)			$	(6,173)
Commercial Mortgage			(128)				(2,400)
Commercial and Industrial			(125)				(6,311)
Construction			(3)				(207)
Consumer and Finance Leases			(15,504)				(13,269)
Total charge offs		$	(20,195)			$	(28,360)
Recoveries:
Residential Mortgage			656				626
Commercial Mortgage			44				128
Commercial and Industrial			115				1,095
Construction			27				41
Consumer and Finance Leases			1,778				2,020
Total recoveries		$	2,620			$	3,910
Net charge-offs		$	(17,575)			$	(24,450)
Allowance for credit losses for loans and finance leases, end of period		$	292,774			$	183,732
Allowance for credit losses for loans and finance leases to period end total loans held for investment			3.24	%			2.04	%
Net charge-offs (annualized) to average loans outstanding during the period			0.78	%			1.10	%
Provision for credit losses for loans and finance leases to net charge-offs during the period			4.21	x			0.48	x
Provision for credit losses for loans and finance leases to net charge-offs during the period, excluding the
effect of the hurricane-related qualitative reserve release in the first quarter of 2019(4)			4.21	x			0.75	x

(1)Net of a loan loss reserve release of $3.4 million for the first quarter of 2019, associated with revised estimates of the effects of Hurricanes Maria and Irma.

(2)Net of a loan loss reserve release of $3.0 million for the first quarter of 2019, associated with revised estimates of the effects of Hurricanes Maria and Irma.

(3)Net of a loan loss reserve release of $6.4 million for the first quarter of 2019, associated with revised estimates of the effects of Hurricanes Maria and Irma.

(4)Non-GAAP financial measure, see "Basis of Presentation" below for a reconciliation of this measure.

 

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The following table sets forth information concerning the allocation of the allowance for credit losses for loans and finance leases by loan category and the percentage of loan balances in each category to the total of such loans as of the dates indicated:
	As of							As of
	March 31, 2020							December 31, 2019
(Dollars in thousands)	Amount			Percent of loans in each category to total loans				Amount			Percent of loans in each category to total loans
Residential mortgage loans	$	107,082			32	%		$	44,806			33	%
Commercial mortgage loans		33,971			16	%			39,194			16	%
Construction loans		5,253			2	%			2,370			1	%
Commercial and Industrial loans		38,310			25	%			15,198			25	%
Consumer loans and finance leases		108,158			25	%			53,571			25	%
	$	292,774			100	%		$	155,139			100	%

The following table sets forth information concerning the composition of the Corporation's loan portfolio and related allowance for credit losses as of March 31, 2020 and December 31, 2019 by loan category:
As of March 31, 2020	Residential Mortgage Loans			Commercial Mortgage Loans									Consumer and Finance Leases
										Construction Loans
(Dollars in thousands)							C&I Loans									Total
Total loans held for investment:
Amortized cost of loans	$	2,875,672		$	1,454,753		$	2,236,218		$	159,675		$	2,312,629		$	9,038,947
Allowance for credit losses		107,082			33,971			38,310			5,253			108,158			292,774
Allowance for credit losses to amortized cost		3.72	%		2.34	%		1.71	%		3.29	%		4.68	%		3.24	%

 

		Residential Mortgage Loans			Commercial Mortgage Loans									Consumer and Finance Leases
As of December 31, 2019											Construction Loans
(Dollars in thousands)								C&I Loans									Total
Total loans held for investment:
Amortized cost of loans		$	2,933,773		$	1,444,586		$	2,230,876		$	111,317		$	2,281,653		$	9,002,205
Allowance for credit losses			44,806			39,194			15,198			2,370			53,571			155,139
Allowance for credit losses to amortized cost			1.53	%		2.71	%		0.68	%		2.13	%		2.35	%		1.72	%

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Allowance for Credit Losses for Unfunded Loan Commitments

 

The Corporation estimates expected credit losses over the contractual period in which the Corporation is exposed to credit risk via a contractual obligation to extend credit, such as unfunded loan commitments and standby letters of credit for commercial and construction loans, unless the obligation is unconditionally cancellable by the Corporation. The ACL on off-balance sheet credit exposures is adjusted as a provision for credit loss expense. Upon adoption of CECL on January 1, 2020, the Corporation recognized an increase in the ACL for off-balance sheet exposures of approximately $3.9 million, as a cumulative effect adjustment from a change in accounting policy, with a corresponding decrease in beginning retained earnings, net of applicable income taxes. As of March 31, 2020, the ACL for off-balance sheet credit exposures was $5.7 million, including the $3.9 million effect of adopting CECL and a $1.8 million charge to the provision in the first quarter of 2020. The increase in the allowance for credit losses for unfunded loan commitments in the first quarter of 2020 primarily reflects the effect of the deteriorating economic outlook due to the COVID-19 pandemic.

 

Allowance for Credit Losses for Held-to-Maturity Debt Securities

 

As of March 31, 2020, the held-to-maturity securities portfolio consisted of Puerto Rico municipal bonds. Upon adoption of CECL on January 1, 2020, the Corporation recognized an ACL for held-to-maturity securities of approximately $8.1 million, as a cumulative effect adjustment from a change in accounting policy, with a corresponding decrease in retained earnings, net of applicable income taxes. As of March 31, 2020, the ACL for held-to-maturity debt securities was $9.3 million, including the $8.1 million effect of adopting CECL and a $1.1 million charge to the provision recorded in the first quarter of 2020. The increase in the allowance for credit losses for held-to-maturity debt securities in the first quarter of 2020 primarily reflects the effect of the deteriorating economic outlook due to the COVID-19 pandemic.

 

Allowance for Credit Losses for Available-for-Sale Debt Securities

During the first quarter of 2020, the Corporation established a $0.4 million ACL in connection with private label MBS held as part of the available-for-sale investment securities portfolio. The ACL was derived from a decline in the present value of expected cash flows attributed to credit factors, taking into consideration the effect of the deteriorating forecasted economic conditions due to the COVID-19 pandemic.

Nonaccrual Loans and Non-performing Assets

 

Total non-performing assets consist of nonaccrual loans (generally loans held for investment or loans held for sale on which the recognition of interest income was discontinued when the loan became 90 days past due or earlier if the full and timely collection of interest or principal is uncertain), foreclosed real estate and other repossessed properties, and non-performing investment securities, if any. When a loan is placed in nonaccrual status, any interest previously recognized and not collected is reversed and charged against interest income. Cash payments received are recognized when collected in accordance with the contractual terms of the loans. The principal portion of the payment is used to reduce the principal balance of the loan, whereas the interest portion is recognized on a cash basis (when collected). However, when management believes that the ultimate collectability of principal is in doubt, the interest portion is applied to the outstanding principal. The risk exposure of this portfolio is diversified as to individual borrowers and industries, among other factors. In addition, a large portion is secured with real estate collateral.

 

Nonaccrual Loans Policy

 

Residential Real Estate Loans — The Corporation generally classifies real estate loans in nonaccrual status when it has not received interest and principal for a period of 90 days or more.

 

Commercial and Construction Loans — The Corporation classifies commercial loans (including commercial real estate and construction loans) in nonaccrual status when it has not received interest and principal for a period of 90 days or more or when it does not expect to collect all of the principal or interest due to deterioration in the financial condition of the borrower.

 

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Finance Leases — The Corporation classifies finance leases in nonaccrual status when it has not received interest and principal for a period of 90 days or more.

 

Consumer Loans — The Corporation classifies consumer loans in nonaccrual status when it has not received interest and principal for a period of 90 days or more. Credit card loans continue to accrue finance charges and fees until charged-off at 180 days delinquent.

 

Purchased Credit Deteriorated Loans — The Corporation adopted ASC 326 using the prospective transition approach for PCD loans that were previously classified as purchased credit impaired (“PCI”) loans and accounted for under ASC Topic 310-30 (ASC 310-30). As allowed by ASC 326, the Corporation elected to maintain pools of loans accounted for under ASC 310-30 as “units of accounts,” conceptually treating each pool as a single asset. Regarding interest income recognition, the prospective transition approach for PCD loans was applied at a pool level which froze the effective interest rate of the pools as of January 1, 2020. According to regulatory guidance, the determination of nonaccrual or accrual status for PCD loans with respect to which the Corporation has made a policy election to maintain previously existing pools on adoption of ASC 326 should be made at the pool level, not the individual asset level. In addition, the guidance provides that the Corporation can continue accruing interest and not report the PCD loans as being in nonaccrual status if the following criteria are met: (i) the Corporation can reasonably estimate the timing and amounts of cash flows expected to be collected, and (ii) the Corporation did not acquire the asset primarily for the rewards of ownership of the underlying collateral, such as use of collateral in operations or improving the collateral for resale. Thus, the Corporation continues to exclude these pools of PCD loans from nonaccrual loan statistics. 

 

Other Real Estate Owned

 

OREO acquired in settlement of loans is carried at the lower of cost (carrying value of the loan) or fair value less estimated costs to sell off the real estate. Appraisals are obtained periodically, generally on an annual basis.

 

Other Repossessed Property

 

The other repossessed property category generally includes repossessed boats and autos acquired in settlement of loans. Repossessed boats and autos are recorded at the lower of cost or estimated fair value.

 

Loans Past-Due 90 Days and Still Accruing

These are accruing loans that are contractually delinquent 90 days or more. These past-due loans are either current as to interest but delinquent as to the payment of principal or are insured or guaranteed under applicable FHA, VA or other government-guaranteed programs for residential mortgage loans. Loans past due 90 days and still accruing also include PCD loans with individual delinquencies over 90 days, primarily related to mortgage loans acquired from Doral Bank in 2015 and from Doral Financial in 2014.

 

TDRs are classified as either accrual or nonaccrual loans. A loan on nonaccrual status and restructured as a TDR will remain on nonaccrual status until the borrower has proven the ability to perform under the modified structure, generally for a minimum of six months, and there is evidence that such payments can and are likely to continue as agreed. The Corporation considers performance prior to the restructuring, or significant events that coincide with the restructuring, in assessing whether the borrower can meet the new terms, which may result in the loan being returned to accrual status at the time of the restructuring or after a shorter performance period. If the borrower’s ability to meet the revised payment schedule is uncertain, the loan remains classified as a nonaccrual loan.

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The following table presents non-performing assets as of the indicated dates:
		March 31,				December 31,
		2020				2019
(Dollars in thousands)
Nonaccrual loans held for investment:
Residential mortgage		$	122,903			$	121,408
Commercial mortgage			35,953				40,076
Commercial and Industrial			19,734				18,773
Construction			9,663				9,782
Consumer			24,042				20,629
Total nonaccrual loans held for investment		$	212,295			$	210,668
OREO			99,674				101,626
Other repossessed property			5,832				5,115
Total non-performing assets (1)(2)		$	317,801			$	317,409
Past due loans 90 days and still accruing (3)(4)		$	132,058			$	135,490
Non-performing assets to total assets			2.44	%			2.52	%
Nonaccrual loans held for investment to total loans held for investment			2.35	%			2.34	%
Allowance for credit losses for loans and finance leases		$	292,774			$	155,139
Allowance for credit losses for loans and finance leases to total nonaccrual loans held for investment			137.91	%			73.64	%
Allowance for credit losses for loans and finance leases to total nonaccrual loans held for investment,
excluding residential real estate loans			327.52	%			173.81	%

(1)Excludes PCD loans previously accounted for under ASC 310-30 for which the Corporation made the accounting policy election to mantain pools of loans accounted for under ASC 310-30 as “units of account” both at the time of adoption of ASC 326 and on an ongoing basis for credit loss measurement. These loans will accrete interest income based on the effective interest rate of the loan pools determined at the time of adoption of ASC 326 and will continue to be excluded from nonaccrual loan statistics as long as the Corporation can reasonably estimate the timing and amount of cash flows expected to be collected on the loan pools. The amortized cost of such loans as of March 31, 2020 and December 31, 2019 amounted to $134.0 million and $136.7 million, respectively.

(2)Nonaccrual loans exclude $401.6 million and $398.3 million of TDR loans that were in compliance with the modified terms and in accrual status as of March 31, 2020 and December 31, 2019, respectively.

(3)It is the Corporation's policy to report delinquent residential mortgage loans insured by the FHA, guaranteed by the VA, and other government-insured loans as loans past-due 90 days and still accruing as opposed to nonaccrual loans since the principal repayment is insured. The Corporation continues accruing interest on these loans until they have passed the 15 months delinquency mark, taking into consideration the FHA interest curtailment process. These balances include $34.6 million and $37.9 million of residential mortgage loans insured by the FHA that were over 15 months delinquent as of March 31, 2020 and December 31, 2019, respectively.

(4)Includes 90-days past due and still accruing PCD loans previously accounted for under ASC 310-30 for which the Corporation made the accounting policy election to maintain the loan pools both at the time of adoption of ASC 326 and on an ongoing basis for credit loss measurement. The amortized cost of 90-days-past due and still accruing PCD loans as of March 31, 2020 and December 31, 2019 amounted to $25.4 million and $27.0 million, respectively.

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The following table shows non-performing assets by geographic segment as of the indicated dates:
		March 31,			December 31,
(In thousands)		2020			2019
Puerto Rico:
Nonaccrual loans held for investment:
Residential mortgage		$	98,529		$	97,214
Commercial mortgage			22,061			23,963
Commercial and Industrial			17,988			16,155
Construction			1,992			2,024
Consumer			22,748			19,483
Total nonaccrual loans held for investment			163,318			158,839
OREO			94,151			96,585
Other repossessed property			5,619			4,810
Total non-performing assets (1)		$	263,088		$	260,234
Past due loans 90 days and still accruing (2)		$	125,623		$	129,463
Virgin Islands:
Nonaccrual loans held for investment:
Residential mortgage		$	10,191		$	10,903
Commercial mortgage			13,892			16,113
Commercial and Industrial			1,454			2,303
Construction			7,671			7,758
Consumer			439			467
Total nonaccrual loans held for investment			33,647			37,544
OREO			5,328			4,909
Other repossessed property			103			146
Total non-performing assets		$	39,078		$	42,599
Past due loans 90 days and still accruing		$	5,723		$	5,898
United States:
Nonaccrual loans held for investment:
Residential mortgage		$	14,183		$	13,291
Commercial and Industrial			292			315
Consumer			855			679
Total nonaccrual loans held for investment			15,330			14,285
OREO			195			132
Other repossessed property			110			159
Total non-performing assets		$	15,635		$	14,576
Past due loans 90 days and still accruing		$	712		$	129

(1)Excludes PCD loans previously accounted for under ASC 310-30 for which the Corporation made the accounting policy election to maintain pools of loans accounted for under ASC 310-30 as “units of account” both at the time of adoption of ASC 326 and on an ongoing basis for credit loss measurement. These loans will accrete interest income based on the effective interest rate of the loan pools determined at the time of adoption of ASC 326 and will continue to be excluded from nonaccrual loan statistics as long as the Corporation can reasonably estimate the timing and amount of cash flows expected to be collected on the loan pools. The amortized cost of such loans as of March 31, 2020 and December 31, 2019 amounted to $134.0 million and $136.7 million, respectively.

(2)Includes 90-days past due and still accruing PCD loans previously accounted for under ASC 310-30 for which the Corporation made the accounting policy election to maintain the loan pools both at the time of adoption of ASC 326 and on an ongoing basis for credit loss measurement. The amortized cost of 90-days-past due and still accruing PCD loans as of March 31, 2020 and December 31, 2019 amounted to $25.4 million and $27.0 million, respectively.

 

 

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Total nonaccrual loans were $212.3 million as of March 31, 2020. This represents an increase of $1.6 million from $210.7 million as of December 31, 2019. The increase was primarily related to consumer and residential mortgage loans that migrated to nonaccrual status prior to the deferral payment programs established by the Corporation to assist borrowers affected by the COVID-19 pandemic, partially offset by reductions in commercial and construction nonaccrual loans.

Nonaccrual commercial mortgage loans decreased by $4.1 million to $36.0 million as of March 31, 2020 from $40.1 million as of December 31, 2019. The decrease was primarily related to collections of approximately $2.5 million during the first quarter of 2020 and the restoration to accrual status of $1.7 million of loans related to a commercial mortgage borrower in the Puerto Rico region. Total inflows of nonaccrual commercial mortgage loans were $0.4 million for the first quarter of 2020, compared to $0.5 million for the same period in 2019.

 

Nonaccrual C&I loans increased by $0.9 million to $19.7 million as of March 31, 2020 from $18.8 million as of December 31, 2019. Total inflows of nonaccrual C&I loans were $2.6 million for the first quarter of 2020, compared to $0.1 million for the same quarter in 2019, reflecting the effect of the inflow of a $2.5 million loan in the Puerto Rico region.

 

Nonaccrual construction loans remained relatively flat with a total of $9.7 million as of March 21, 2020 when compared to $9.8 million as of December 31, 2019. There were no inflows of construction loans to nonaccrual status during the first quarter of 2020 compared to inflows of $0.1 million for the same period in 2019.

 

The following tables present the activity of commercial and construction nonaccrual loans held for investment for the indicated periods:
				Commercial Mortgage			Commercial & Industrial			Construction				Total
(In thousands)
Quarter ended March 31, 2020
Beginning balance				$	40,076		$	18,773		$	9,782		$	68,631
Plus:
	Additions to nonaccrual				351			2,568			-			2,919
Less:
	Loans returned to accrual status				(1,687)			(801)			-			(2,488)
	Nonaccrual loans transferred to OREO				(126)			(263)			-			(389)
	Nonaccrual loans charge-offs				(125)			(124)			(3)			(252)
	Loan collections				(2,536)			(419)			(116)			(3,071)
Ending balance				$	35,953		$	19,734		$	9,663		$	65,350

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			Commercial Mortgage			Commercial & Industrial			Construction				Total
(In thousands)
Quarter ended March 31, 2019
Beginning balance			$	109,536		$	30,382		$	8,362			148,280
Plus:
	Additions to nonaccrual			494			139			67			700
Less:
	Loans returned to accrual status			(11,182)			(124)			-			(11,306)
	Nonaccrual loans transferred to OREO			(822)			(214)			(459)			(1,495)
	Nonaccrual loans charge-offs			(2,395)			(6,235)			(101)			(8,731)
	Loan collections			(2,439)			(1,441)			(169)			(4,049)
Ending balance			$	93,192		$	22,507		$	7,700		$	123,399

 

Nonaccrual residential mortgage loans increased by $1.5 million to $122.9 million as of March 31, 2020, compared to $121.4 million as of December 31, 2019. The increase was mainly related to the inflow of two loans individually in excess of $1 million totaling $3.0 million. The inflows of nonaccrual residential mortgage loans during the first quarter of 2020 were $12.6 million, an increase of $1.1 million, compared to inflows of $11.5 million for the same period in 2019.

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	The following table presents the activity of residential mortgage nonaccrual loans held for investment for the indicated periods:
		Quarters Ended
(In thousands)		March 31, 2020			March 31, 2019
Beginning balance		$	121,408		$	147,287
Plus:
Additions to nonaccrual			12,588			11,460
Less:
Loans returned to accrual status			(2,581)			(9,370)
Nonaccrual loans transferred to OREO			(3,550)			(7,290)
Nonaccrual loans charge-offs			(3,234)			(4,357)
Loan collections			(1,728)			(5,681)
Ending balance		$	122,903		$	132,049

 

The amount of nonaccrual consumer loans, including finance leases, increased by $3.4 million to $24.0 million as March 31, 2020, compared to $20.6 million as of December 31, 2019. The increase was primarily in auto loans, driven by consumer loans that migrated to nonaccrual status prior to the deferral payment programs established by the Corporation to assist borrower affect by the COVID-19 pandemic. The inflows of nonaccrual consumer loans during the first quarter of 2020 were $15.6 million, an increase of $3.6 million, compared to inflows of $12.0 million for the same period in 2019.

 

As of March 31, 2020, approximately $27.1 million of the loans placed in nonaccrual status, mainly commercial loans, were current, or had delinquencies of less than 90 days in their interest payments, including $16.3 million of TDRs maintained in nonaccrual status until the restructured loans meet the criteria of sustained payment performance under the revised terms for reinstatement to accrual status and there is no doubt about full collectability. Collections on these loans are being recorded on a cash basis through earnings, or on a cost-recovery basis, as conditions warrant.

 

During the quarter ended March 31, 2020, interest income of approximately $0.3 million related to nonaccrual loans with a carrying value of $57.0 million as of March 31, 2020, mainly nonaccrual construction and commercial loans, was applied against the related principal balances under the cost-recovery method.

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Total loans in early delinquency (i.e., 30-89 days past due loans, as defined in regulatory report instructions) amounted to $94.7 million as of March 31, 2020, a decrease of $68.0 million compared to $162.7 million as of December 31, 2019. The variances by major portfolio categories follow:

 Residential mortgage loans in early delinquency decreased by $45.6 million to $42.0 million as of March 31, 2020, and consumer loans in early delinquency decreased by $22.6 million to $46.9 million as of March 31, 2020. The decrease was primarily related to the combination of payments received and the effect of the deferred repayment programs established by the Corporation to assist customers affected by the COVID-19 pandemic, as further explained below.

 Commercial and construction loans in early delinquency increased in the first quarter of 2020 by $0.1 million to $5.6 million as of March 31, 2020.

In working with borrower affected by the COVID-19 pandemic, the Corporation implemented payment deferral programs to alleviate the hardships being experienced by the Corporation’s borrowers. The Corporation has agreed to let consumer borrowers defer payments on their loans (i.e., residential mortgage, personal loans, auto loans, finance leases, and small loans) for a period up to June 30, 2020, with the possibility of a further extension up to August 31, 2020, if needed, as long as the borrowers were current in their payments or no more than 2 payments in arrears (not having exceeded 89 days past due as of March 16, 2020) and who did not make their monthly payment corresponding to the month of March. In the case of credit cards and individual lines of credit, the borrowers were required to be current or less than 29 days past due in their payment as of March 16, 2020 to qualify for the payment deferral program. For both consumer and residential mortgage loans subject to the deferral programs, each borrower is required to begin making their regularly scheduled loan payment at the end of the deferral period and the deferred amounts were moved to the end of the loan. The payment deferral programs were applied prospectively beginning, in some instances, with the scheduled contractual payment due in March. For commercial loans, any request for payment deferral is analyzed on a case by case basis. As of May 7, 2020, the Corporation has under deferred repayment arrangements approximately 7,064 residential mortgage loans totaling $931.5 million, 93,629 consumer loans totaling $1.0 billion, and 741 commercial and construction loans totaling $1.8 billion. In accordance with interagency guidance issued in March 2020, these short-term deferrals are not considered TDRs unless the borrower was previously experiencing financial difficulty and the concession granted was significant in relation to the exposure based on criteria established in ASC Subtopic 310-40. In addition, the risk-rating on COVID-19 modified loans did not change, and the delinquency of these loans will not increase after the deferral period if the borrower resumes its scheduled payments. The credit quality of these loans will be reevaluated after the deferral period ends.

As a certified Small Business Administration (“SBA”) lender, the Corporation is participating in the SBA Paycheck Protection Program (PPP) to help provide loans to the Corporation’s small business customers to provide them with additional working capital. As of May 7, 2020, the Corporation has received approval from the SBA for 3,792 applications received since April 3, 2020, the first date on which small business customers could apply for such loans, totaling approximately $350.6 million, of which approximately $313.2 million has already been funded.

 

In addition, the Corporation provides homeownership preservation assistance to its customers through a loss mitigation program in Puerto Rico that is similar to the U.S. government’s Home Affordable Modification Program guidelines. Depending upon the nature of borrowers’ financial condition, restructurings or loan modifications through this program, as well as other restructurings of individual commercial, commercial mortgage, construction, and residential mortgage loans, fit the definition of a TDR. A restructuring of a debt constitutes a TDR if the creditor, for economic or legal reasons related to the debtor’s financial difficulties, grants a concession to the debtor that it would not otherwise consider. Modifications involve changes in one or more of the loan terms that bring a defaulted loan current and provide sustainable affordability. Changes may include, among others, the extension of the maturity of the loan and modifications of the loan rate. See Note 7, - Loans Held for Investment, to the accompanying unaudited consolidated financial statements for additional information and statistics about the Corporation’s TDR loans.

 

TDR loans are classified as either accrual or nonaccrual loans. Loans in accrual status may remain in accrual status when their contractual terms have been modified in a TDR if the loans had demonstrated performance prior to the restructuring and payment in full under the restructured terms is expected. Otherwise, loans on nonaccrual status and restructured as a TDR will remain on nonaccrual status until the borrower has proven the ability to perform under the modified structure, generally for a minimum of six months, and there is evidence that such payments can, and are likely to, continue as agreed. Performance prior to the restructuring, or significant events that coincide with the restructuring, are included in assessing whether the borrower can meet the new terms and may result in the loan being returned to accrual status at the time of the restructuring or after a shorter performance period. If the borrower’s ability to meet the revised payment schedule is uncertain, the loan remains classified as a nonaccrual loan. Loan modifications increase the Corporation’s interest income by returning a nonaccrual loan to performing status, if applicable, increase cash flows by providing for payments to be made by the borrower, and limit increases in foreclosure and OREO costs.

 

 

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The following table provides a breakdown between the accrual and nonaccrual TDRs as of the indicated date:
(In thousands)		As of March 31, 2020
		Accrual			Nonaccrual (1)			Total TDRs
Conventional residential mortgage loans		$	256,497		$	54,866		$	311,363
Construction loans			3,200			1,075			4,275
Commercial mortgage loans			50,672			23,660			74,332
Commercial and Industrial loans			73,531			9,188			82,719
Consumer loans:
Auto loans			8,021			6,165			14,186
Finance leases			1,544			7			1,551
Personal loans			1,052			22			1,074
Credit cards			2,754			-			2,754
Consumer loans - Other			4,332			709			5,041
Total Troubled Debt Restructurings		$	401,603		$	95,692		$	497,295

(1)Included in nonaccrual loans are $16.3 million in loans that are performing under the terms of the restructuring agreement but are reported in nonaccrual status until the restructured loans meet the criteria of sustained payment performance under the revised terms for reinstatement to accrual status and are deemed fully collectible.

 

The OREO portfolio, which is part of non-performing assets, decreased by $2.0 million to $99.6 million as of March 31, 2020 from $101.6 million as of December 31, 2019. The following tables show the composition of the OREO portfolio as of March 31, 2020 and December 31, 2019, as well as the activity during the quarter ended March 31, 2020 of the OREO portfolio by geographic region:

 

OREO Composition by Region
(In thousands)	As of March 31, 2020
	Puerto Rico		Virgin Islands		Florida			Consolidated
Residential	$	44,911	$	1,452	$	64	$	46,427
Commercial		42,566		3,180		132		45,878
Construction		6,674		695		-		7,369
	$	94,151	$	5,327	$	196	$	99,674
(In thousands)	As of December 31, 2019
	Puerto Rico		Virgin Islands		Florida			Consolidated
Residential	$	45,890	$	1,022	$	-	$	46,912
Commercial		43,959		3,180		132		47,271
Construction		6,736		707		-		7,443
	$	96,585	$	4,909	$	132	$	101,626
OREO Activity by Region
(In thousands)	As of March 31, 2020
	Puerto Rico		Virgin Islands		Florida			Consolidated
Beginning Balance	$	96,585	$	4,909	$	132	$	101,626
Additions		4,722		498		64		5,284
Sales		(5,237)		(9)		-		(5,246)
Write-down and other adjustments		(1,919)		(71)		-		(1,990)
Ending Balance	$	94,151	$	5,327	$	196	$	99,674

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Net Charge-offs and Total Credit Losses

 

Net charge-offs totaled $17.6 million for the first quarter of 2020, or 0.78% of average loans on an annualized basis, compared to $24.5 million, or 1.10% of average loans for the same period in 2019.

 

Commercial mortgage loans net charge-offs in the first quarter of 2020 were $0.1 million, or an annualized 0.02% of average commercial mortgage loans, compared to $2.3 million, or an annualized 0.59% of average loans, for the first quarter of 2019. Commercial mortgage loans net charge-offs for the first quarter of 2019 included a charge-off of $2.1 million taken on the restructuring of loans related to a commercial mortgage relationship in the Puerto Rico region.

 

Construction loans net recoveries in the first quarter of 2020 were $24 thousand, or an annualized 0.08% of related average loans, compared to net charge-offs of $0.2 million, or an annualized 0.78% of average loans, for the first quarter of 2019.

 

Commercial and industrial loans net charge-offs in the first quarter of 2020 were $10 thousand, compared to $5.2 million, or an annualized 0.96%, for the first quarter of 2019. Commercial and industrial loans net charge-offs for the first quarter of 2019 included a $5.7 million charge-off taken against a previously-established specific reserve associated with a commercial and industrial loan in the Puerto Rico region.

 

Residential mortgage loans net charge-offs in the first quarter of 2020 were $3.8 million, or an annualized 0.52% of related average loans, compared to $5.5 million, or an annualized 0.71% of related average loans, for the first quarter of 2019. Approximately $3.0 million in charge-offs for the first quarter of 2020 resulted from valuations of collateral dependent residential mortgage loans given high delinquency levels, compared to $4.0 million for the first quarter of 2019. Net charge-offs on residential mortgage loans for the first quarter of 2020 also included $1.1 million related to foreclosures, compared to $1.3 million in the first quarter of 2019.

 

Net charge-offs of consumer loans and finance leases in the first quarter of 2020 were $13.7 million, or an annualized 2.38% of related average loans, compared to $11.2 million, or an annualized 2.27% of average loans, in the first quarter of 2019. The increase is primarily related to an increase in charge-offs taken on personal loans and credit cards associated, in part, with larger portfolio balances.

 

The following table shows the ratios of annualized net charge-offs to average loans held-in-portfolio for the indicated periods:
		Quarter Ended
		March 31, 2020			March 31, 2019
Residential mortgage		0.52	%		0.71	%
Commercial mortgage		0.02	%		0.59	%
Commercial and industrial		-	%		0.96	%
Construction (1)		(0.08)	%		0.78	%
Consumer		2.38	%		2.27	%
Total loans		0.78	%		1.10	%

(1)For the quarter ended March 31, 2020, recoveries in construction loans exceeded charge-offs.

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The following table presents the ratio of annualized net charge-offs (or recoveries) to average loans held in various portfolios by geographic segment for the indicated periods:
		Quarter Ended
		March 31,		March 31,
		2020		2019
PUERTO RICO:
	Residential mortgage	0.68	%	0.95	%
	Commercial mortgage	0.05	%	0.93	%
	Commercial and Industrial	0.01	%	1.53	%
	Construction (1)	(0.13)	%	2.43	%
	Consumer and finance leases	2.38	%	2.30	%
	Total loans	1.02	%	1.46	%
VIRGIN ISLANDS:
	Residential mortgage	0.36	%	0.10	%
	Commercial mortgage (2)	(0.14)	%	(0.38)	%
	Commercial and Industrial	-	%	-	%
	Construction	-	%	-	%
	Consumer and finance leases	0.86	%	0.76	%
	Total loans	0.25	%	0.07	%
FLORIDA:
	Residential mortgage	0.02	%	0.07	%
	Commercial mortgage (3)	(0.02)	%	(0.04)	%
	Commercial and Industrial (4)	(0.01)	%	-	%
	Construction (5)	(0.07)	%	(0.16)	%
	Consumer and finance leases	4.55	%	2.49	%
	Total loans	0.09	%	0.09	%

(1)For the first quarter of 2020, recoveries in construction loans in Puerto Rico exceeded charge-offs.

(2)For the first quarter of 2020 and 2019, recoveries in commercial mortgage loans in the Virgin Islands exceeded charge-offs.

(3)For the first quarter of 2020 and 2019, recoveries in commercial mortgage loans in Florida exceeded charge-offs.

(4)For the first quarter of 2020, recoveries in commercial and industrial loans in Florida exceeded charge-offs.

(5)For the first quarter of 2020 and 2019, recoveries in construction loans in Florida exceeded charge-offs.

 

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The above ratios are based on annualized charge-offs and are not necessarily indicative of the results expected for the entire year or in subsequent periods.

 

Total net charge-offs plus losses on OREO operations for the first quarter of 2020 amounted to $18.8 million, or a loss rate of 0.82% on an annualized basis to average loans and repossessed assets, compared to losses of $28.2 million, or a loss rate of 1.25% on an annualized basis, for the same period in 2019.

 

The following table presents information about the OREO inventory and credit losses for the periods indicated:
			Quarter Ended
			March 31,
(Dollars in thousands)			2020			2019
OREO
OREO balances, carrying value:
Residential			$	46,427		$	50,076
Commercial				45,878			68,904
Construction				7,369			10,736
Total			$	99,674		$	129,716
OREO activity (number of properties):
Beginning property inventory				697			694
Properties acquired				52			119
Properties disposed				(55)			(98)
Ending property inventory				694			715
Average holding period (in days)
Residential				408			398
Commercial				1,870			1,434
Construction				1,793			1,378
		Total average holding period (in days)		1,183			1,029
OREO operations loss:
Market adjustments and losses on sale:
Residential			$	(14)		$	(123)
Commercial				(475)			(2,135)
Construction				(132)			(277)
		Total losses on sale		(621)			(2,535)
Other OREO operations expenses				(567)			(1,208)
Net Loss on OREO operations			$	(1,188)		$	(3,743)
CHARGE-OFFS
Residential charge offs, net				(3,779)			(5,547)
Commercial charge offs, net				(94)			(7,488)
Construction recoveries (charge-offs), net				24			(166)
Consumer and finance leases charge-offs, net				(13,726)			(11,249)
Total charge-offs, net				(17,575)			(24,450)
TOTAL LOSSES (1)			$	(18,763)		$	(28,193)
LOSS RATIO PER CATEGORY (2):
Residential				0.52%			0.71%
Commercial				0.06%			1.01%
Construction				0.33%			1.85%
Consumer				2.38%			2.27%
TOTAL LOSS RATIO (3)				0.82%			1.25%
________

(1)Equal to net loss on OREO operations plus charge-offs, net.

(2)Calculated as net charge-offs plus market adjustments, and gains (losses) on sales of OREO divided by average loans and repossessed assets.

(3)Calculated as net charge-offs plus net loss on OREO operations divided by average loans and repossessed assets.

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Operational Risk

 

The Corporation faces ongoing and emerging risk and regulatory pressure related to the activities that surround the delivery of banking and financial products. Coupled with external influences, such as market conditions, security risks, and legal risks, the potential for operational and reputational loss has increased. To mitigate and control operational risk, the Corporation has developed, and continues to enhance, specific internal controls, policies and procedures that are designed to identify and manage operational risk at appropriate levels throughout the organization. The purpose of these mechanisms is to provide reasonable assurance that the Corporation’s business operations are functioning within the policies and limits established by management.

 

The Corporation classifies operational risk into two major categories: business-specific and corporate-wide affecting all business lines. For business specific risks, a risk assessment group works with the various business units to ensure consistency in policies, processes and assessments. With respect to corporate-wide risks, such as information security, business recovery, and legal and compliance, the Corporation has specialized groups, such as the Legal Department, Information Security, Corporate Compliance, and Operations. These groups assist the lines of business in the development and implementation of risk management practices specific to the needs of the business groups. 

 

Legal and Compliance Risk

 

Legal and compliance risk includes the risk of noncompliance with applicable legal and regulatory requirements, the risk of adverse legal judgments against the Corporation, and the risk that a counterparty’s performance obligations will be unenforceable. The Corporation is subject to extensive regulation in the different jurisdictions in which it conducts its business, and this regulatory scrutiny has been significantly increasing over the years. The Corporation has established, and continues to enhance, procedures that are designed to ensure compliance with all applicable statutory, regulatory and any other legal requirements. The Corporation has a Compliance Director who reports to the Chief Risk Officer and is responsible for the oversight of regulatory compliance and implementation of an enterprise-wide compliance risk assessment process. The Compliance division has officer roles in each major business area with direct reporting responsibilities to the Corporate Compliance Group.

 

Concentration Risk

 

The Corporation conducts its operations in a geographically concentrated area, as its main market is Puerto Rico. However, the Corporation has diversified its geographical risk, as evidenced by its operations in the Virgin Islands and in Florida. Of the total gross loan portfolio held for investment of $9.0 billion as of March 31, 2020, the Corporation had credit risk of approximately 74% in Puerto Rico, 21% in the United States, and 5% in the Virgin Islands.

 

Update to the Puerto Rico Fiscal Situation

 

Fiscal Plan

 

A significant portion of our financial activities and credit exposure is concentrated in the Commonwealth of Puerto Rico, which has been in an economic recession since 2006. On May 3, 2020, the government of Puerto Rico submitted its most recent Fiscal Plan (the “revised fiscal plan”) to the PROMESA oversight board. This revised fiscal plan, however, has not been approved. In this revised fiscal plan, the Puerto Rico government estimates the direct economic damage of the COVID-19 pandemic in Puerto Rico at $0.8 billion in fiscal year 2020 and $5.8 billion in fiscal year 2021, corresponding to 1.1% of the Puerto Rico nominal gross national product (“GNP”) in 2020 and 9.2% in fiscal year 2021. The revised fiscal plan estimates Puerto Rico’s real GNP will contract at 3.6% in fiscal year 2020 and 7.8% in fiscal year 2021. However, as stated in the revised fiscal plan, there remains considerably uncertainty about the ultimate duration and magnitude of the pandemic and thus the size of the economic losses. The revised fiscal plan estimates that over 350,000 Puerto Rico residents (including self-employed residents) will file for unemployment due to the COVID-19 pandemic and that the claims will begin to decline beginning in June 2020 at a rate consistent with the declining trend following Hurricane Maria. The revised fiscal plan estimates that, beginning in fiscal year 2021, the unfavorable impact of the COVID-19 pandemic will result in a pre-contractual debt service deficit of $708 million. As per the revised fiscal plan, an annual deficit is forecast to continue through fiscal year 2023. From fiscal year 2024 through fiscal year 2029, the revised fiscal plan estimates an annual surplus as the impact of COVID-19 diminishes and the Commonwealth achieves positive nominal GNP growth averaging 1.5% per year. As the revised fiscal plan submitted by the Puerto Rico government assumes that Puerto Rico will no longer have the previously estimated surpluses to pay bondholders, the Puerto Rico government is calling on the PROMESA oversight board to consider a re-evaluation, if not withdrawal, of the PROMESA oversight board’s proposed plan of adjustment filed with the Title III Court.

 

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The revised fiscal plan accounts for the impact of federal funds granted through several government programs, including the CARES Act and a $787 million local package of direct assistance to workers and businesses (the “Puerto Rico COVID-19 Stimulus Package”) in fiscal year 2020, fiscal year 2021, and fiscal year 2022. Several U.S. government programs (the principal being the CARES Act) provide aid to Puerto Rico and its residents of approximately $12.8 billion, primarily through $3.0 billion in direct payments to Puerto Rico residents, $2.2 billion in relief to state and local governments and $3.9 billion in additional unemployment benefits. In addition, the revised fiscal plan assumes that, of the $787 million Puerto Rico COVID-19 Stimulus Package, $336 million will be reimbursed by the U.S. government through the CARES Act, $157 million will be reapportioned from the existing budget, and $131 million will be reapportioned from U.S. government funding. The remaining $163 million is assumed to be funded out of the Puerto Rico General Fund (“the General Fund”). In addition to the $787 million package, the Puerto Rico Governor has proposed a $500 per person stimulus payment for private sector workers and retirees, which equates to an additional $349 million to be funded out of the General Fund. The revised fiscal plan assumes a $1 billion working capital fund to address the liquidity constraints associated with the reimbursement nature of disaster relief programs and a parametric insurance coverage required by the U.S. government in case of natural disasters. The revised fiscal plan estimates that the U.S. government and local stimulus efforts will positively affect the Puerto Rico economy by approximately $5.7 billion between fiscal year 2020 and fiscal year 2022. The revised fiscal plan assumes that consumer spending of the COVID-19 related stimulus funds will not exceed the maximum rate at which hurricane relief money was spent in 2018, when consumers and businesses received insurance and U.S. government assistance to replace income and meet immediate consumption needs. Therefore, the revised fiscal plan estimates that the impact of the stimulus will be $0.5 billion, $4.2 billion and $0.9 billion in fiscal years 2020, 2021 and 2022, respectively. The revised fiscal plan includes and maintains a series of structural reforms in areas such as: (i) human capital and labor; (ii) ease of doing business; (iii) power sector reform; and (iv) infrastructure reform, and other fiscal measures. However, the Puerto Rico government stated that fiscal reforms could be postponed. The revised fiscal plan, among other things, also assumes no incremental expense cuts for the Department of Education, the Department of Health, and the Department of Public Safety for the duration of the forecast given the nature of the services these agencies provide and includes proposals to alleviate the municipalities’ obligations to pay PayGo liabilities and provide a two-year delay in contemplated reductions of municipalities’ appropriations.

 

Other Developments

 

On April 14, 2020, the PROMESA oversight board announced that it certified the Action Plan by the Puerto Rico Department of Housing (PRDOH) detailing the use of funds from the U.S. Department of Housing’s (HUD) Community Development Block Grant Disaster Recovery Program (CDBG-DR). PRDOH was appointed as the agency responsible for administering approximately $20 billion in CDBGDR funding that Puerto Rico will receive from HUD, with oversight provided by the Central Office for Recovery, Reconstruction and Resilience of Puerto Rico (COR3). In February 2018, HUD had allocated the first grant of $1.5 billion. In January 2020, HUD announced the grant agreement for the second tranche of $8.2 billion, which requires PRDOH to submit an updated Action Plan for the PROMESA oversight board to review and certify that the programs are consistent with the Certified Fiscal Plan and Certified Budget. In addition to these funds, HUD allocated to Puerto Rico $8.3 billion related to disaster resilience and $1.9 billion related to the energy grid. The PROMESA oversight board also certified the budget for the next $1.7 billion block of funding, as required by HUD prior to providing PRDOH access to the funds and to continue implementing the Action Plan.

 

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Exposure to Puerto Rico Government

 

As of March 31, 2020, the Corporation had $203.3 million of direct exposure to the Puerto Rico government, its municipalities and public corporations, compared to $204.5 million as of December 31, 2019. As of March 31, 2020, approximately $181.5 million of the exposure consisted of loans and obligations of municipalities in Puerto Rico that are supported by assigned property tax revenues and for which, in most cases, the good faith, credit and unlimited taxing power of the applicable municipality have been pledged to their repayment, compared to $182.5 million as of December 31, 2019. Approximately 76% of the Corporation’s municipality exposure consisted primarily of senior priority obligations concentrated in three of the largest municipalities in Puerto Rico. The municipalities are required by law to levy special property taxes in such amounts as are required for the payment of all of their respective general obligation bonds and notes. During the second quarter of 2019, the PROMESA oversight board announced the designation of the Commonwealth’s 78 municipalities as covered instrumentalities under PROMESA. Meanwhile, the latest fiscal plan submitted by the Puerto Rico government to the PROMESA oversight board did not contemplate a restructuring of the debt of Puerto Rico’s municipalities, but the plan did call for the gradual elimination of budgetary subsidies provided to municipalities. Furthermore, municipalities are also likely to be affected by the negative economic and other effects resulting from the COVID-19 pandemic, as well as expense, revenue or cash management measures taken to address the Puerto Rico government’s fiscal problems and measures included in fiscal plans of other government entities. In addition to municipalities, the total direct exposure also included a $13.7 million loan to an affiliate of PREPA and obligations of the Puerto Rico government, specifically bonds of the PRHFA, at an amortized cost of $8.1 million as part of its available-for-sale investment securities portfolio (fair value of $7.3 million as of March 31, 2020).

 

The following table details the Corporation’s total direct exposure to Puerto Rico government obligations according to their maturities:
		As of March 31, 2020
			Investment
			Portfolio						Total
			(Amortized cost)			Loans			Exposure
(In thousands)
Puerto Rico Housing Finance Authority:
After 5 to 10 years		$	4,000		$	-		$	4,000
After 10 years			4,113			-			4,113
Total Puerto Rico Housing Finance Authority			8,113			-			8,113
Public Corporations:
Affiliate of the Puerto Rico Electric Power Authority:
After 1 to 5 years			-			13,668			13,668
Total Public Corporations			-			13,668			13,668
Municipalities:
Due within one year			321			21,124			21,445
After 1 to 5 years			8,122			8,323			16,445
After 5 to 10 years			56,511			13,507			70,018
After 10 years			73,580			-			73,580
Total Municipalities			138,534			42,954			181,488
Total Direct Government Exposure		$	146,647		$	56,622		$	203,269

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In addition, as of March 31, 2020, the Corporation had $103.6 million in exposure to residential mortgage loans that are guaranteed by the PRHFA, compared to $106.9 million as of December 31, 2019. Residential mortgage loans guaranteed by the PRHFA are secured by the underlying properties and the guarantees serve to cover shortfalls in collateral in the event of a borrower default. The Puerto Rico government guarantees up to $75 million of the principal for all loans under the mortgage loan insurance program. According to the most recently-released audited financial statements of the PRHFA, as of June 30, 2016, the PRHFA’s mortgage loans insurance program covered loans in an aggregate of approximately $576 million. The regulations adopted by the PRHFA require the establishment of adequate reserves to guarantee the solvency of the mortgage loan insurance fund. As of June 30, 2016, the most recent date as to which information is available, the PRHFA had a restricted net position for such purposes of approximately $77.4 million.

 

As of March 31, 2020, the Corporation had $818.8 million of public sector deposits in Puerto Rico, compared to $826.9 million as of December 31, 2019. Approximately 36% is from municipalities and municipal agencies in Puerto Rico and 64% is from public corporations and the central government and agencies in Puerto Rico.

 

Exposure to USVI Government

 

The Corporation has operations in the USVI and has credit exposure to USVI government entities.

 

The USVI is experiencing a number of fiscal and economic challenges that could adversely affect the ability of its public corporations and instrumentalities to service their outstanding debt obligations and that could be exacerbated by the effect of the COVID-19 pandemic. Preliminary data released by the U.S. Department of Commerce, Bureau of Economic Analysis showed that the USVI real GDP increased 1.5% in 2018 after decreasing 0.6% in 2017. In mid- February 2017, the USVI was facing a financial crisis due to a high debt level of $2 billion and a structural budget deficit of $110 million. In addition, the most recent actuarial analysis of public pensions found a net pension liability of about $4 billion. Despite recent improvements in general fund revenues, several challenges remain present, including the need to close the USVI government structural deficit gap, implement measures to address the solvency of the USVI government employee retirement system, and regain access to capital markets at reasonable terms. On September 23, 2019, Moody’s downgraded the most senior bonds of the Virgin Islands Water and Power Authority to eight steps below investment grade. PROMESA does not apply to the USVI and, as such, there is currently no federal legislation permitting the restructuring of the debts of the USVI and its public corporations and instrumentalities.

 

To the extent that the fiscal condition of the USVI government continues to deteriorate, the U.S. Congress or the government of the USVI may enact legislation allowing for the restructuring of the financial obligations of the USVI government entities or imposing a stay on creditor remedies, including by making PROMESA applicable to the USVI.

 

As of March 31, 2020, the Corporation had $62.5 million in loans to USVI government instrumentalities and public corporations, compared to $64.1 million as of December 31, 2019. Of the amount outstanding as of March 31, 2020, public corporations of the USVI owed approximately $39.3 million and an independent instrumentality of the USVI government owed approximately $23.2 million. As of March 31, 2020, all loans were currently performing and up to date on principal and interest payments.

 

Impact of Inflation and Changing Prices

 

The financial statements and related data presented herein have been prepared in conformity with GAAP, which requires the measurement of the financial position and operating results in terms of historical dollars without considering changes in the relative purchasing power of money over time due to inflation.

 

Unlike most industrial companies, substantially all of the assets and liabilities of a financial institution are monetary in nature. As a result, interest rates have a greater impact on a financial institution’s performance than the effects of general levels of inflation. Interest rate movements are not necessarily correlated with changes in the prices of goods and services.

 

 

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Basis of Presentation

 

The Corporation has included in this Form 10-Q the following financial measures that are not recognized under GAAP, which are referred to as non-GAAP financial measures:

1. Net interest income, interest rate spread, and net interest margin are reported excluding the changes in the fair value of derivative instruments and on a tax-equivalent basis in order to provide to investors additional information about the Corporation’s net interest income that management uses and believes should facilitate comparability and analysis of the periods presented. The changes in the fair value of derivative instruments have no effect on interest due or interest earned on interest-bearing liabilities or interest-earning assets, respectively. The tax-equivalent adjustment to net interest income recognizes the income tax savings when comparing taxable and tax-exempt assets and assumes a marginal income tax rate. Income from tax-exempt earning assets is increased by an amount equivalent to the taxes that would have been paid if this income had been taxable at statutory rates. Management believes that it is a standard practice in the banking industry to present net interest income, interest rate spread, and net interest margin on a fully tax-equivalent basis. This adjustment puts all earning assets, most notably tax-exempt securities and tax-exempt loans, on a common basis that facilitates comparison of results to the results of peers. See “Results of Operations - Net Interest Income” above for the table that reconciles the non-GAAP financial measure “net interest income excluding fair value changes and on a tax-equivalent basis” with net interest income calculated and presented in accordance with GAAP. The table also reconciles the non-GAAP financial measures “net interest spread and margin excluding fair value changes and on a tax-equivalent basis” with net interest spread and margin calculated and presented in accordance with GAAP.

2. The tangible common equity ratio and tangible book value per common share are non-GAAP financial measures that management believes are generally used by the financial community to evaluate capital adequacy. Tangible common equity is total equity less preferred equity, goodwill, core deposit intangibles, and other intangibles, such as the purchased credit card relationship intangible and the insurance customer relationship intangible. Tangible assets are total assets less goodwill, core deposit intangibles, and other intangibles, such as the purchased credit card relationship intangible and the insurance customer relationship intangible. Management and many stock analysts use the tangible common equity ratio and tangible book value per common share in conjunction with more traditional bank capital ratios to compare the capital adequacy of banking organizations with significant amounts of goodwill or other intangible assets, typically stemming from the use of the purchase method of accounting for mergers and acquisitions. Accordingly, the Corporation believes that disclosures of these financial measures may be useful to investors. Neither tangible common equity nor tangible assets, or the related measures, should be considered in isolation or as a substitute for stockholders’ equity, total assets, or any other measure calculated in accordance with GAAP. Moreover, the manner in which the Corporation calculates its tangible common equity, tangible assets, and any other related measures may differ from that of other companies reporting measures with similar names. See “Risk Management – Capital” above for a reconciliation of the Corporation’s tangible common equity and tangible assets.

3. Adjusted provision for credit losses for loans and finance leases ratio is a non-GAAP financial measure that excludes the effects related to the net loan loss reserve releases of $6.4 million for the quarter ended March 31, 2019 resulting from revised estimates of the qualitative reserve associated with the effects of Hurricanes Maria and Irma. Management believes that this information helps investors understand the adjusted measure without regard to items that are not expected to reoccur with any regularity or may reoccur at uncertain times and in uncertain amounts on reported results and facilitates comparisons with other periods. See below for the reconciliation of the GAAP measure ratio of provision for credit losses for loans and finance leases to net charge-offs to the Non-GAAP ratio of the adjusted provision for credit losses for loans and finance leases to net charge-offs.

 

 

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4. Adjusted net (loss) income that reflects the effect of the following exclusions:

 Gain of $8.2 million on the sales of U.S. agencies MBS in the first quarter of 2020.

 COVID-19 pandemic-related expenses of $0.4 million in the first quarter of 2020.

 Merger and restructuring costs of $0.8 million recorded in the first quarter of 2020 related to transaction costs and restructuring initiatives in connection with the pending acquisition of BSPR.

 Total benefit of $1.2 million recorded in the first quarter of 2020 resulting from insurance recoveries associated with hurricane-related expenses.

 Net loan loss reserve release of $6.4 million in the first quarter of 2019 resulting from revised estimates of the hurricane-related qualitative reserves.

 The $2.3 million expense recovery recognized in the first quarter of 2019 related to the employee retention benefit payment received by the Bank under the Disaster Tax Relief and Airport Extension Act of 2017, as amended.

 The tax-related effects of all the pre-tax items mentioned in the above bullets as follows:

- Tax benefit of $0.1 million in the first quarter of 2020 in connection with the COVID-19 pandemic-related expenses (calculated based on the statutory tax rate of 37.5%).

- Tax benefit of $0.3 million in the first quarter of 2020 related to merger and restructuring costs in connection with the pending acquisition of BSPR (calculated based on the statutory tax rate of 37.5%).

- Tax expense of $0.4 million in the first quarter of 2020 related to the benefit of hurricane-related insurance recoveries (calculated based on the statutory tax rate of 37.5%).

- Tax expense of $2.4 million in the first quarter of 2019 related to reserve releases associated with the hurricane-related qualitative reserve (calculated based on the statutory tax rate of 37.5%).

- No tax expense was recorded for the gain on sales of U.S. agencies MBS in the first quarter of 2020. Those gains were recorded at the tax-exempt international banking entity subsidiary level.

- The employee retention benefit recognized in 2019 was not treated as taxable income by virtue of the Disaster Tax Relief and Airport Extension Act of 2017.

Management believes that adjustments to net income of items that are not reflective of core operating performance, are not expected to reoccur with any regularity or may reoccur at uncertain times and in uncertain amounts, facilitates comparisons with prior periods and provides an alternate presentation of the Corporation’s performance.

 

The Corporation uses these non-GAAP financial measures and believes that these non-GAAP financial measures enhance the ability of analysts and investors to analyze trends in the Corporation’s business and understand the performance of the Corporation. In addition, the Corporation may utilize these non-GAAP financial measures as a guide in its budgeting and long-term planning process. Any analysis of these non-GAAP financial measures should be used only in conjunction with results presented in accordance with GAAP.

 

176

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See “Overview of Results of Operations” above for the reconciliation of the non-GAAP financial measure “adjusted net (loss) income,” to the GAAP financial measure. The following table reconciles the “provision for credit losses for loans and finance leases to net charge-offs ratio” GAAP financial measure to the non-GAAP financial measure “adjusted provision for credit losses for loans and finance leases to net charge-offs ratio,” for the first quarter of 2019:

 

	Provision for credit losses for loans and finance leases to Net Charge-Offs
	(GAAP to Non-GAAP reconciliation)
	Quarter Ended March 31, 2019
	Provision for Credit Losses for			Net Charge-Offs
(In thousands)	Loans and Finance Leases
Provision for credit losses for loans and finance leases and net charge-offs (GAAP)	$	11,820		$	24,450
Less special item:
Hurricane-related qualitative reserve release		6,425			-
Provision for credit losses for loans and finance leases and net charge-offs,
excluding special items (Non-GAAP)	$	18,245		$	24,450
Provision for credit losses for loans and finance leases to net charge-offs (GAAP)		48.34%
Provision for credit losses for loans and finance leases to net charge-offs,
excluding special items (Non-GAAP)		74.62%

177

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ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

 

For information regarding market risk to which the Corporation is exposed, see the information contained in Part I – Item 2. “Management’s Discussion and Analysis of Financial Condition and Results of Operations — Risk Management.”

 

ITEM 4. CONTROLS AND PROCEDURES

 

Disclosure Control and Procedures

 

First BanCorp.’s management, including its Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of the design and operation of First BanCorp.’s disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) as of March 31, 2020. Based on this evaluation, as of the end of the period covered by this Form 10-Q, the Chief Executive Officer and Chief Financial Officer concluded that the design and operation of these disclosure controls and procedures were effective.

 

Internal Control over Financial Reporting

 

There have been no changes to the Corporation’s internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the fiscal quarter to which this report relates that have materially affected, or are reasonably likely to materially affect, the Corporation’s internal control over financial reporting.

178

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PART II - OTHER INFORMATION

 

ITEM 1. LEGAL PROCEEDINGS

 

Not applicable.

 

ITEM 1A. RISK FACTORS

 

The Corporation’s business, operating results and/or the market price of our common and preferred stock may be significantly affected by a number of factors. In addition to the risk factor set forth below, a detailed discussion of other risk factors that could affect the Corporation’s future operations, financial condition or results for future periods are set forth in Part I, Item 1A., “Risk Factors,” in the 2019 Annual Report on Form 10-K. These risk factors, and others, could cause actual results to differ materially from historical results or the results contemplated by the forward-looking statements contained in this report. Also, refer to the discussion in “Forward Looking Statements” and Part I, Item 2., “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” in this report for additional information that may supplement or update the discussion of risk factors in the 2019 Annual Report on Form 10-K.

 

Additional risk and uncertainties that are not currently known to the Corporation or are currently deemed by the Corporation to be immaterial also may materially adversely affect the Corporation’s business, financial condition or result of operations.

 

The currently evolving situation related to the coronavirus disease 2019 (COVID-19) pandemic has had a material adverse effect and may continue to have a materially adverse effect on the Corporation’s business, financial condition and results of operations.

 

The novel coronavirus (“COVID-19”) outbreak, which the World Health Organization declared to be a pandemic in March 2020, has caused a significant global economic downturn that has adversely affected, and is expected to continue to adversely affect, the Corporation’s business, financial condition and results of operations. Puerto Rico’s Governor issued a very restrictive stay-at-home order on March 15, 2020, which she subsequently extended until May 3, 2020. In addition to mandating that every citizen stay at home, except for certain limited activities that include shopping for food and medicine and except if the citizen is involved in certain specified activities, including working in supermarkets, the order set out a nightly curfew. Since March 31, 2020, the governor instituted additional restrictive measures, including limiting travel by car, the use of protective equipment, such as masks, the maintenance of a distance of at least six feet between citizens, and a curfew between 7 p.m. to 5 a.m. Although some of these restrictions have been modified, the full lockdown of non-essential businesses continued until May 3, 2020 and the stay-at-home order and the curfew was extended until May 25, 2020. On May 1, 2020, Puerto Rico’s Governor announced a gradual reopening of the economy, allowing the reopening on May 4, 2020 of sectors such as mortgage financial services, insurance, and professional services including lawyers, engineers, accountants and dental offices. On May 11, 2020, the construction and manufacturing sectors will be allowed to resume operations. Other sectors, such as retail trade and auto sales, are expected to be allowed to reopen in mid to late May 2020, depending on how the COVID-19 trends in Puerto Rico cases develop over the upcoming weeks. As of May 2, 2020, 1,757 people in 73 municipalities in Puerto Rico had tested positive for COVID-19 and 95 people’s deaths were related to the illness, according to data provided by the Puerto Rico government.

 

Local governments in the other regions in which the Corporation conducts business have also implemented stay-at-home-orders and imposed substantial restrictions on the operations of non-essential businesses, which have resulted in closures of many businesses. Moreover, companies, are taking additional precautions, such as, requiring employees to work remotely, including the Corporation, or in other cases temporarily closing. These measures, although designed to stop the spread of COVID-19, have had severe economic impacts, such as, severely restricting global trade, disrupting supply chains and the flow of goods, and reducing the operations of essential businesses, increasing underemployment and unemployment, and others.

 

 

179

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Financial results for the quarter ended March 31, 2020 were adversely affected by, among other things, a reserve build of $59.8 million (i.e., the amount by which the provision for credit losses of $77.4 million exceeded net charge-offs of $17.6 million), driven by the effect of the COVID-19 pandemic on forecasted economic conditions. In addition, the various stay-at-home and lockdown orders have resulted in reductions in the Corporation’s transaction fee income, such as that from credit and debit cards, automated teller machines, and point-of-sale transactions, as well as the Corporation’s volume of loan originations and closings. Further, the situation required the Corporation to implement payment deferral programs to alleviate the hardships being experienced by the Corporation’s borrowers during the COVID-19 pandemic.

 

Depending upon the severity and duration of COVID-19’s impact, it is possible that the pandemic may lead to a prolonged economic downturn. If that should occur, the pandemic will likely continue to have an adverse effect on the Corporation by, among other things, altering consumers’ spending, borrowing and saving habits and investor confidence, increasing the probability of default on existing loans and any new loan issuances, decreasing demand for the Corporation’s products and services, and increasing volatility in the financial markets and lowering interest rates, all of which would result in lower revenues and earnings and adversely affect the Corporation’s cash flow. Moreover, it is also possible that U.S. government and international banking regulatory authorities will implement additional or more stringent regulations on financial institutions, such as by increasing capital or leverage ratio requirements. The continuance or exacerbation of any of these factors could materially adversely affect our liquidity, net income, credit qualities, credit losses, availability of and access to funding sources, and overall results of operations or financial condition.

 

Furthermore, in response to the COVID-19 pandemic and its effects on the economy and market conditions, the U.S. government and local governments have enacted stimulus packages and other programs and forms of relief, such as the Paycheck Protection Program established by the Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020. It is possible that governments, regulatory authorities and central banks will implement additional stimulus packages or other programs or forms of relief. There can be no guarantee of the effect that existing or any future such actions will have on the Corporation, its customers or the economy. The Corporation’s participation in the Small Business Administration Paycheck Protection Program and any other such programs or stimulus packages may give rise to claims, including by governments, regulators or customers or through class action lawsuits, or judgments against the Corporation that may result in the payment of damages or the imposition of fines, penalties or restrictions by regulatory authorities, or result in reputational harm. The occurrence of any of the foregoing could have a material adverse effect on the Corporation’s results of operations or financial condition.

 

 

 

 

180

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ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds

 

 

a) Not applicable.

 

b) Not applicable

 

c) Purchase of equity securities by the issuer and affiliated purchases. The following table provides information relating to the Corporation’s purchases of shares of its common stock in the first quarter of 2020.

 

Period		Total number of shares purchased (1)			Average price paid			Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs			Maximum Number of Shares That May Yet be Purchased Under These Plans or Programs
January 2020		-		$	-			-			-
February 2020		924			9.00			-			-
March 2020		49,361			3.86			-			-
Total		50,285		$	3.95			-			-

 

(1)

Reflects the withholding of shares of common stock to cover minimum tax withholding obligations upon the vesting of restricted stock. The Corporation intends to continue to satisfy statutory tax withholding obligations in connection with the vesting of outstanding restricted stock through the withholding of shares.

181

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ITEM 3. DEFAULTS UPON SENIOR SECURITIES

 

Not applicable.

 

ITEM 4. MINE SAFETY DISCLOSURES

 

Not applicable.

 

ITEM 5. OTHER INFORMATION

 

Not applicable.

 

ITEM 6. EXHIBITS

 

See the Exhibit Index below, which is incorporated by reference herein:

182

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Exhibit Index

 

3.2 – Amended and Restated By-Laws, incorporated by reference from Exhibit 3.2 of the Form 8-K filed on March 31, 2020.

 

31.1 – CEO Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

 

31.2 - CFO Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

 

32.1 - CEO Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

 

32.2 - CFO Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

 

101.INS	XBRL Instance Document. The instance document does not appear in the interactive data file because its XBRL tags are embedded within the inline XBRL document. (1)
101.SCH	XBRL Taxonomy Extension Schema Document (1)
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document (1)
101.DEF	XBRL Taxonomy Extension Definitions Linkbase Document (1)
101.LAB	XBRL Taxonomy Extension Label Linkbase Document (1)
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document (1)
104	The cover page of First BanCorp. Quarterly Report on Form 10-Q for the quarter ended March 31, 2020, formatted in Inline XBRL (included within the Exhibit 101 attachments) (1)

 

(1) Filed herewith.

183

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SIGNATURES

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Corporation has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized:

 

	First BanCorp.
	Registrant

 

 

Date: May 11, 2020	By:	/s/ Aurelio Alemán
		Aurelio Alemán
		President and Chief Executive Officer

 

 

 

 

Date: May 11, 2020	By:	/s/ Orlando Berges
		Orlando Berges
		Executive Vice President and Chief Financial Officer and Acting Chief Accounting Officer

 

184

 

 

                                                                                                                                                                       

EXHIBIT 31.1

 

I, Aurelio Alemán, certify that:

 

1.        I have reviewed this Form 10-Q of First BanCorp.;

 

2.        Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3.        Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

 

4.        The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

 

(a)      Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

(b)     Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

(c)      Evaluated the effectiveness of the registrant's disclosure controls and procedures, and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

(d)     Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5.        The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

 

(a)      All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

 

(b)     Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

 

 

Dated: May 11, 2020	By:	/s/ Aurelio Alemán
		Aurelio Alemán
		President and Chief Executive Officer

 

---

 

EXHIBIT 31.2

I, Orlando Berges, certify that:

 

1.        I have reviewed this Form 10-Q of First BanCorp.;

 

2.        Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3.        Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

 

4.        The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

 

(a)      Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

(b)     Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

(c)      Evaluated the effectiveness of the registrant's disclosure controls and procedures, and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

(d)     Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5.        The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

 

(a)      All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

 

(b)     Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

 

 

 

 

 

Dated: May 11, 2020	By:	/s/ Orlando Berges
		Orlando Berges
		Executive Vice President and Chief Financial Officer

 

---

 

 

EXHIBIT 32.1

CERTIFICATION

 

Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
(Subsections (a) and (b) of Section 1350, Chapter 63 of Title 18,
United States Code)  

 

 

Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (subsections (a) and (b) of Section 1350, Chapter 63 of Title 18, United States Code), the undersigned officer of First BanCorp., a Puerto Rico corporation (the “Company”), does hereby certify, to such officer’s knowledge, that:

 

The Quarterly Report on Form 10-Q for the quarter ended March 31, 2020 (the “Form l0-Q”) of the Company fully complies with the requirements of section l3(a) or 15(d) of the Securities Exchange Act of 1934 and information contained in the Form 10-Q fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

 

Date: May 11, 2020		/s/ Aurelio Alemán
		Name: Aurelio Alemán
		Title: President and Chief Executive Officer

 

 

---

 

 

EXHIBIT 32.2

 

 

CERTIFICATION

 

Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
(Subsections (a) and (b) of Section 1350, Chapter 63 of Title 18,
United States Code)  

 

 

     Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (subsections (a) and (b) of Section 1350, Chapter 63 of Title 18, United States Code), the undersigned officer of First BanCorp., a Puerto Rico corporation (the “Company”), does hereby certify, to such officer’s knowledge, that:

 

     The Quarterly Report on Form 10-Q for the quarter ended March 31, 2020 (the “Form l0-Q”) of the Company fully complies with the requirements of section l3(a) or 15(d) of the Securities Exchange Act of 1934 and information contained in the Form 10-Q fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

 

               

Date: May 11, 2020	/s/ Orlando Berges
	Name: Orlando Berges
	Title: Executive Vice President and Chief Financial Officer

 

---

v3.20.1

ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LEASES - Carrying Amount of Portfolios (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for credit losses on loans and finance leases	$ 292,774	$ 155,139	$ 183,732	$ 196,362
Loans held for investmet [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Financing Receivable, before Allowance for Credit Loss	9,038,947	9,002,205
Allowance for credit losses on loans and finance leases	$ 292,774	$ 155,139
Allowance for credit losses, numerator [Member] | Amortized cost, denominator [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for credit losses to amortized cost	3.24%	1.72%
Residential mortgage loans [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for credit losses on loans and finance leases	$ 107,082	$ 44,806	51,886	50,794
Residential mortgage loans [Member] | Loans held for investmet [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Financing Receivable, before Allowance for Credit Loss	$ 2,875,672	$ 2,933,773
Residential mortgage loans [Member] | Allowance for credit losses, numerator [Member] | Amortized cost, denominator [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for credit losses to amortized cost	3.72%	1.53%
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for credit losses on loans and finance leases	$ 38,310	$ 15,198	22,321	32,546
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Loans held for investmet [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Financing Receivable, before Allowance for Credit Loss	$ 2,236,218	$ 2,230,876
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Allowance for credit losses, numerator [Member] | Amortized cost, denominator [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for credit losses to amortized cost	1.71%	0.68%
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for credit losses on loans and finance leases	$ 33,971	$ 39,194	53,430	55,581
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Loans held for investmet [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Financing Receivable, before Allowance for Credit Loss	$ 1,454,753	$ 1,444,586
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Allowance for credit losses, numerator [Member] | Amortized cost, denominator [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for credit losses to amortized cost	2.34%	2.71%
Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for credit losses on loans and finance leases	$ 5,253	$ 2,370	3,331	3,592
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Loans held for investmet [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Financing Receivable, before Allowance for Credit Loss	$ 159,675	$ 111,317
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Allowance for credit losses, numerator [Member] | Amortized cost, denominator [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for credit losses to amortized cost	3.29%	2.13%
Consumer Portfolio Segment [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for credit losses on loans and finance leases	$ 108,158	$ 53,571	$ 52,764	$ 53,849
Consumer Portfolio Segment [Member] | Loans held for investmet [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Financing Receivable, before Allowance for Credit Loss	$ 2,312,629	$ 2,281,653
Consumer Portfolio Segment [Member] | Allowance for credit losses, numerator [Member] | Amortized cost, denominator [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for credit losses to amortized cost	4.68%	2.35%

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v3.20.1

OTHER REAL ESTATE OWNED- Other real estate owned (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Other Real Estate And Foreclosed Assets [Line Items]
Other real estate owned	$ 99,674	$ 101,626
Other Real Estate Owned [Member]
Other Real Estate And Foreclosed Assets [Line Items]
Other real estate owned	99,674	101,626
Other Real Estate Owned [Member] | Residential
Other Real Estate And Foreclosed Assets [Line Items]
Other real estate owned	46,427	46,912
Other Real Estate Owned [Member] | Commercial loans[Member] | Commercial And Industrial Sector [Member]
Other Real Estate And Foreclosed Assets [Line Items]
Other real estate owned	45,878	47,271
Other Real Estate Owned [Member] | Commercial loans[Member] | Construction
Other Real Estate And Foreclosed Assets [Line Items]
Other real estate owned	$ 7,369	$ 7,443

X

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v3.20.1

DEPOSITS - Brokered Certificates Of Deposit Mature (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Deposits [Abstract]
Brokered Certificates Of Deposit Mature In One To Ninety Days	$ 88,696
Brokered Certificates Of Deposit Mature In Over Three Months To Six Months	87,276
Brokered Certificates Of Deposit Mature In Over Six Months To One Year	114,110
Brokered Certificates Of Deposit Mature In One To Three Years	126,651
Brokered Certificates Of Deposit Mature In Three To Five Years	29,268
Brokered Certificates Of Deposit Mature In Over Five Years	5,951
Total	$ 451,952	$ 435,089

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v3.20.1

GOODWILL AND OTHER INTANGIBLES	3 Months Ended
	Mar. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLES [Text Block]	NOTE 14 – GOODWILL AND OTHER INTANGIBLES   Goodwill as of both March 31, 2020 and December 31, 2019 amounted to $28.1 million, recognized as part of Other Assets in the consolidated statements of financial condition. The Corporation’s goodwill is related to the Florida reporting unit. The Corporation conducted its annual evaluation of goodwill and other intangibles during the fourth quarter of 2019. Such analysis indicated that it is more likely than not that the reporting unit’s fair value is greater than its carrying value based on a qualitative assessment of events and circumstances that could impact the latest quantitative estimate of fair value of the reporting unit performed in the fourth quarter of 2018. During the first quarter of 2020, the COVID-19 pandemic broadly impacted the operating environment, notably in March, causing a sharp contraction in global economic activity and increased market volatility affecting both equity and credit markets. Due to this event, the Corporation performed a qualitative assessment to conclude if recent events constituted a triggering event that would indicate that it is more likely than not that the reporting unit is impaired. Although the market volatility resulting from uncertainties around the COVID-19 pandemic negatively broadly affected macroeconomic and equity market indicators, the duration and extent of the effects of the COVID-19 pandemic are highly uncertain at this time and its ultimate effect could be affected by measures implemented by central banks and governments aimed at mitigating the contraction in economic activity and market concerns. There were no other events, specific to the reporting unit, that would have had a significant negative impact on the valuation of the reporting unit. Ultimately, the Corporation concluded that the COVID-19 event not to be a triggering event to perform a quantitative test or to accelerate the indefinite life intangibles impairment analyses. As a result, no impartment charges for goodwill and indefinite-lived intangible assets were recorded during the first quarter of 2020.   In connection with the acquisition of the FirstBank-branded credit card loan portfolio in the second quarter of 2012, the Corporation recognized a purchased credit card relationship intangible of $24.5 million ($3.1 million as of March 31, 2020 and $3.6 million as of December 31, 2019), which is being amortized over the remaining estimated life of 1.6 years on an accelerated basis based on the estimated attrition rate of the purchased credit card accounts, which reflects the Corporation’s estimate that it will realize the economic benefits of the intangible asset as the revenue stream generated by the cardholder relationship is realized.   The core deposit intangible of $3.3 million as of March 31, 2020 (December 31, 2019 - $3.5 million) primarily consisted of the core deposit acquired in the February 2015 Doral Bank transaction described in Note 1 – Basis of Presentation and Significant Accounting Policies above.   In the first quarter of 2016, FirstBank Insurance Agency acquired insurance customer accounts and related customer records and recognized an insurance customer relationship intangible of $1.1 million ($0.4 million as of March 31, 2020 and $0.5 million as of December 31, 2019). The acquired accounts have a direct relationship to the previous mortgage loan portfolio acquisitions from Doral Bank and Doral Financial in 2015 and 2014. The following table shows the gross amount and accumulated amortization of the Corporation’s intangible assets recognized as part of Other assets in the consolidated statements of financial condition as of indicated dates:               As of   As of   March 31,   December 31,   2020   2019 (Dollars in thousands)           Core deposit intangible:           Gross amount $ 51,664   $ 51,664 Accumulated amortization (1)   (48,377)     (48,176) Net carrying amount $ 3,287   $ 3,488             Remaining amortization period (in years)   4.8     5.1             Purchased credit card relationship intangible:           Gross amount $ 24,465   $ 24,465 Accumulated amortization (2)   (21,324)     (20,850) Net carrying amount $ 3,141   $ 3,615             Remaining amortization period (in years)   1.6     1.9             Insurance customer relationship intangible:           Gross amount $ 1,067   $ 1,067 Accumulated amortization (3)   (635)     (597) Net carrying amount $ 432   $ 470             Remaining amortization period (in years)   2.8     3.0 For each of the quarters ended March 31, 2020 and 2019, the amortization expense of core deposit intangibles amounted to $0.2 million.For each of the quarters ended March 31, 2020 and 2019, the amortization expense of the purchased credit card relationship intangible amounted to $0.5 million.For each of the quarters ended March 31, 2020 and 2019, the amortization expense of the insurance customer relationship intangible amounted to $38 thousand. The estimated aggregate annual amortization expense related to the intangible assets for future periods is as follows as of March 31, 2020:                 Amount   (In thousands)       2020 $ 2,138   2021   2,656   2022   915   2023   622   2024   457   2025 and after   72

X

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v3.20.1

NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS - Weighted-Averages of Key Economic Assumptions in Valuation Model (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Transfers and Servicing [Abstract]
Carrying amount of servicing assets	$ 26,484	$ 27,431	$ 26,762	$ 27,428
Fair value	$ 30,337
Weighted-average expected life	8 years 4 months 20 days	8 years 4 months 20 days
Constant prepayment rate	6.46%
Decrease in fair value due to 10% adverse change, constant prepayment rate	$ 764
Decrease in fair value due to 20% adverse change, constant prepayment rate	$ 1,496
Discount rate	11.27%
Decrease in fair value due to 10% adverse change, discount rate	$ 1,393
Decrease in fair value due to 20% adverse change, discount rate	$ 2,677

X

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- Definition The hypothetical financial impact of a 10 percent adverse change of prepayment speed on the fair value of transferor's interests in transferred financial assets (including any servicing assets or servicing liabilities) as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=118948506&loc=d3e107314-111719 + Details Name: us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInPrepaymentSpeed Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition The hypothetical financial impact of a 20 percent adverse change of the discount rate on the fair value of transferor's interests in transferred financial assets (including any servicing assets or servicing liabilities) as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=118948506&loc=d3e107314-111719 + Details Name: us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInDiscountRate Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition The hypothetical financial impact of a 20 percent adverse change of prepayment speed on the fair value of transferor's interests in transferred financial assets (including any servicing assets or servicing liabilities) as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=118948506&loc=d3e107314-111719 + Details Name: us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInPrepaymentSpeed Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition Amortized amount of contract to service financial assets under which the benefits of servicing are expected to more than adequately compensate the servicer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 4 -Subparagraph (a)(1) -URI http://asc.fasb.org/extlink&oid=116651436&loc=d3e122739-111746 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6469459&loc=d3e122501-111745 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 25 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7524895&loc=d3e120260-111741 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6469459&loc=d3e122492-111745 + Details Name: us-gaap_ServicingAssetAtAmortizedValue Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Fair value of an asset representing net future revenue from contractually specified servicing fees, late charges, and other ancillary revenues, in excess of future costs related to servicing arrangements. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6469459&loc=d3e122501-111745 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 3 -Subparagraph (a)(1) -URI http://asc.fasb.org/extlink&oid=116651436&loc=d3e122625-111746 + Details Name: us-gaap_ServicingAssetAtFairValueAmount Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Discount rate used to estimate the fair value of servicing assets and servicing liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=116651436&loc=d3e122596-111746 + Details Name: us-gaap_ServicingAssetsAndServicingLiabilitiesAtFairValueAssumptionsUsedToEstimateFairValueDiscountRate Namespace Prefix: us-gaap_ Data Type: num:percentItemType Balance Type: na Period Type: duration

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- Definition Estimated rate of prepayments of principal on servicing assets and servicing liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=116651436&loc=d3e122596-111746 + Details Name: us-gaap_ServicingAssetsAndServicingLiabilitiesAtFairValueAssumptionsUsedToEstimateFairValuePrepaymentSpeed Namespace Prefix: us-gaap_ Data Type: num:percentItemType Balance Type: na Period Type: duration

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- Definition Weighted average life of financial assets and financial liabilities, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=116651436&loc=d3e122596-111746 + Details Name: us-gaap_ServicingAssetsAndServicingLiabilitiesAtFairValueAssumptionsUsedToEstimateFairValueWeightedAverageLife1 Namespace Prefix: us-gaap_ Data Type: xbrli:durationItemType Balance Type: na Period Type: duration

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v3.20.1

NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS - Changes in Servicing Assets (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Transfers and Servicing [Abstract]
Balance at beginning of period	$ 26,762	$ 27,428
Capitalization of servicing assets	904	868
Amortization	(1,009)	(810)
Temporary impairment (charges) recoveries, net	(138)	(20)
Other	(35)	(35)
Balance at end of period	$ 26,484	$ 27,431

X

- Definition Amortized amount of contract to service financial assets under which the benefits of servicing are expected to more than adequately compensate the servicer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 4 -Subparagraph (a)(1) -URI http://asc.fasb.org/extlink&oid=116651436&loc=d3e122739-111746 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6469459&loc=d3e122501-111745 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 25 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7524895&loc=d3e120260-111741 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6469459&loc=d3e122492-111745 + Details Name: us-gaap_ServicingAssetAtAmortizedValue Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Amount of additions from purchases, assumption or transfer to contract to service financial assets under which the benefits of servicing are expected to more than adequately compensate the servicer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 4 -Subparagraph (a)(2) -URI http://asc.fasb.org/extlink&oid=116651436&loc=d3e122739-111746 + Details Name: us-gaap_ServicingAssetAtAmortizedValueAdditions Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition Amount of amortization of contract to service financial assets under which the benefits of servicing are expected to more than adequately compensate the servicer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 4 -Subparagraph (a)(4) -URI http://asc.fasb.org/extlink&oid=116651436&loc=d3e122739-111746 + Details Name: us-gaap_ServicingAssetAtAmortizedValueAmortization1 Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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v3.20.1

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE	3 Months Ended
	Mar. 31, 2020
Disclosure of Repurchase Agreements [Abstract]
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE [Text Block]	NOTE 18 – SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE Securities sold under agreements to repurchase (repurchase agreements) as of the dates indicated consisted of the following:               March, 31   December 31,     2020   2019 (In thousands)                         Long-term repurchase agreement (1) (2) $ 300,000   $ 100,000               Weighted-average interest rate of 2.84% and 2.26% as of March 31, 2020 and December 31, 2019, respectively. As of March 31, 2020, includes $200 million of reserve repurchase agreements tied to variable rates.During the first quarter of 2020, the Corporation exercised its call option on $200 million of reverse repurchase agreements that were previously offset in the statement of financial condition against variable-rate repurchase agreements, pursuant to ASC topic 210-20-45-11, “Balance Sheet – Offsetting – Repurchase and Reverse Repurchase Agreements.” Repurchase agreements mature as follows as of the indicated date:       March 31, 2020   (In thousands)                 Over one year to three years   $ 100,000   Over three years to five years     200,000   Total   $ 300,000                     As of March 31, 2020 and December 31, 2019, the securities underlying such agreements were delivered to the dealers with which the repurchase agreements were transacted. Repurchase agreements as of March 31, 2020, grouped by counterparty, were as follows:                               (Dollars in thousands)         Weighted-Average   Counterparty   Amount   Maturity (In Months)                 JP Morgan Chase   $ 100,000   23   Credit Suisse First Boston     200,000   58       $ 300,000

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- Definition The entire disclosure for repurchase agreements (also known as repos), resale agreements (also known as reverse repurchase agreements or reverse repos), securities borrowed transactions, and securities loaned transactions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -URI http://asc.fasb.org/topic&trid=2197590 + Details Name: us-gaap_RepurchaseAgreementsResaleAgreementsSecuritiesBorrowedAndSecuritiesLoanedDisclosureTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

v3.20.1

INCOME TAXES - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Income Tax Contingency [Line Items]
Minimum percentage of bank net taxable income for paying Income tax at normal rate	20.00%
Income tax (benefit) expense 1	$ (3.0)	$ 17.6
Effective tax rate maximum statutory rate	37.50%
Estimated annual effective tax rate, excluding entities from which a tax benefit cannot be recognized and discrete items	24.00%	28.00%
Estimated annual effective tax rate, including all entities	26.00%	29.00%
Effective Income Tax Rate Excluding Discrete Items	25.00%	26.00%
Increase in Net Deferred Tax Assets	$ 31.3
Deferred Tax Assets Net	307.8
Valuation allowance	88.5
COVID-19
Income Tax Contingency [Line Items]
Income tax (benefit) expense 1	(20.0)
United States [Member]
Income Tax Contingency [Line Items]
Income tax (benefit) expense 1	1.0	$ 1.8
FirstBank [Member]
Income Tax Contingency [Line Items]
Deferred Tax Assets Net	307.7		$ 264.8
Valuation allowance	$ 52.7		$ 55.6
Domestic Tax Authority [Member] | Other taxable domestic corporations [Member]
Income Tax Contingency [Line Items]
Dividend received deduction	85.00%
Domestic Tax Authority [Member] | Subsidiaries [Member]
Income Tax Contingency [Line Items]
Dividend received deduction	100.00%

X

- Definition Amount of increase (decrease) in net deferred tax assets. + References No definition available. + Details Name: fbp_DeferredTaxAssetsNetIncreaseDecrease Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition Represents the effective income tax rate excluding discrete items which are primarily related to a tax benefit resulting from the change in tax status of certain subsidiaries. + References No definition available. + Details Name: fbp_EffectiveIncomeTaxRateExcludingDiscreteItems Namespace Prefix: fbp_ Data Type: num:percentItemType Balance Type: na Period Type: duration

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- Definition Percentage of domestic federal statutory tax rate applicable to pretax income (loss), excluding entities from which a tax benefit cannot be recognized and discrete items. + References No definition available. + Details Name: fbp_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRateEstimate1 Namespace Prefix: fbp_ Data Type: num:percentItemType Balance Type: na Period Type: duration

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- Definition Minimum IBE's percentage of bank net taxable income for the IBE's to pay income tax at normal rate. + References No definition available. + Details Name: fbp_MinimumPercentageOfBankNetTaxableIncomeForPayingIncomeTaxAtNormalRate Namespace Prefix: fbp_ Data Type: num:percentItemType Balance Type: na Period Type: duration

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- Definition Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b),(c) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details Name: us-gaap_DeferredTaxAssetsNet Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details Name: us-gaap_DeferredTaxAssetsValuationAllowance Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition Percentage of domestic federal statutory tax rate applicable to pretax income (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I) -URI http://asc.fasb.org/extlink&oid=116825942&loc=d3e330036-122817 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -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 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32698-109319 + Details Name: us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate Namespace Prefix: us-gaap_ Data Type: num:percentItemType Balance Type: na Period Type: duration

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- Definition Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to deduction for dividend. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I) -URI http://asc.fasb.org/extlink&oid=116825942&loc=d3e330036-122817 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32698-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -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_EffectiveIncomeTaxRateReconciliationDeductionsDividends Namespace Prefix: us-gaap_ Data Type: num:percentItemType Balance Type: na Period Type: duration

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v3.20.1

LEASES (Tables)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Supplemental information related to leases [Table Text Block]	Supplemental balance sheet information related to leases as of the dates indicated was as follows:                   March 31,   December 31,     2020   2019 (In thousands)                         Operating lease ROU asset $ 59,488   $ 61,327 Operating lease liability $ 62,509   $ 64,259 Operating lease weighted-average remaining lease term (in years)   10.7     10.8 Operating lease weighted-average discount rate   3.30%     3.29% Supplemental cash flow information related to leases for the indicated periods was as follows:                         Quarter Ended     March 31,     2020   2019 (In thousands)                         Operating cash flow from operating leases (1) $ 2,550   $ 2,742 ROU assets obtained in exchange for operating lease liabilities (2)   274     -
Maturities under lease liabilities [Table Text Block]	Maturities under lease liabilities as of March 31, 2020, were as follows:         Amount (In thousands)           2020 $ 7,712 2021   9,622 2022   8,612 2023   7,007 2024   6,422 2025 and later years   35,434 Total lease payments   74,809 Less: imputed interest   (12,300) Total present value of lease liability $ 62,509

X

- Definition Supplemental balance sheet and cash flow information related to leases. + References No definition available. + Details Name: fbp_SuplementalInformationRelatedToLesseeRightOfUseAssetsAndLiabilitiesTableTextBlock Namespace Prefix: fbp_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details Name: us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

v3.20.1

LOANS HELD FOR INVESTMENT (Tables)	3 Months Ended
	Mar. 31, 2020
Accounts Notes And Loans Receivable [Line Items]
Loan Portfolio Held for Investment [Table Text Block]	The following provides information about the loan portfolio held for investment as of the indicated dates:     As of March 31,   As of December 31,     2020   2019 (In thousands)   Residential mortgage loans, mainly secured by first mortgages $ 2,875,672   $ 2,933,773 Construction loans   159,675     111,317 Commercial mortgage loans   1,454,753     1,444,586 Commercial and Industrial loans (1)   2,236,218     2,230,876 Consumer loans   2,312,629     2,281,653 Loans held for investment   9,038,947     9,002,205 Allowance for credit losses on loans and finance leases   (292,774)     (155,139) Loans held for investment, net $ 8,746,173   $ 8,847,066
Corporation's Nonaccrual Status and Loans 90 Days or More Still Accruing [Table text Block]	The following tables present by portfolio classes the amortized cost basis of loans on nonaccrual status and loans 90 days or more still accruing as of March 31, 2020 and December 31, 2019 and the interest income recognized on nonaccrual loans for the quarter ended March 31, 2020:                                               As of March 31, 2020   As of December 31, 2019 Puerto Rico and Virgin Islands region Nonaccrual Loans with No ACL   Nonaccrual Loans with ACL   Total Nonaccrual Loans   Loans Past Due 90 days or more and Still Accruing   Interest Income Recognized on Nonaccrual Loans   Total Nonaccrual Loans   Loans Past Due 90 days or more and Still Accruing (In thousands)                                                         Residential mortgage loans, mainly secured                                         by first mortgages:                                           FHA\VA government-guaranteed $ -   $ -   $ -   $ 77,637   $ -   $ -   $ 81,011   Conventional residential mortgage loans   34,603     74,117     108,720     37,968     294     108,117     40,208 Construction loans   6,991     2,672     9,663     29     20     9,782     - Commercial mortgage loans   12,687     23,266     35,953     4,072     74     40,076     2,222 Commercial and Industrial loans   5,979     13,463     19,442     6,510     32     18,458     7,061 Consumer Loans:                                         Auto loans   37     14,764     14,801     -     50     12,057     - Finance leases   -     1,925     1,925     -     11     1,354     - Personal loans   -     1,498     1,498     -     19     1,523     - Credit cards   -     -     -     4,513     -     -     4,411 Other consumer loans   1,032     3,931     4,963     -     5     5,016     - Total loans held for investment (1) (2) (3) $ 61,329   $ 135,636   $ 196,965   $ 130,729   $ 505   $ 196,383   $ 134,913     As of March 31, 2020   As of December 31, 2019 Florida region Nonaccrual Loans with No ACL   Nonaccrual Loans with ACL   Total Nonaccrual Loans   Loans Past Due 90 days or more and Still Accruing   Interest Income Recognized on Nonaccrual Loans   Total Nonaccrual Loans   Loans Past Due 90 days or more and Still Accruing (In thousands)                                                         Residential mortgage loans, mainly secured                                         by first mortgages:                                           FHA\VA government-guaranteed $ -   $ -   $ -   $ 129   $ -   $ -   $ 129   Conventional residential mortgage loans   196     13,987     14,183     -     83     13,291     - Construction loans   -     -     -     -     -     -     - Commercial mortgage loans   -     -     -     583     -     -     - Commercial and Industrial loans   292     -     292     -     19     315     - Consumer Loans:                                         Auto loans   -     126     126     -     2     163     - Finance leases   -     -     -     -     -     -     - Personal loans   -     254     254     -     2     5     - Credit cards   -     -     -     -     -     -     - Other consumer loans   475     -     475     -     4     511     - Total loans held for investment (1) $ 963   $ 14,367   $ 15,330   $ 712   $ 110   $ 14,285   $ 129   As of March 31, 2020   As of December 31, 2019 Total Nonaccrual Loans with No ACL   Nonaccrual Loans with ACL   Total Nonaccrual Loans   Loans Past Due 90 days or more and Still Accruing   Interest Income Recognized on Nonaccrual Loans   Total Nonaccrual Loans   Loans Past Due 90 days or more and Still Accruing (In thousands)                                                                                                   Residential mortgage loans, mainly secured                                         by first mortgages:                                           FHA\VA government-guaranteed $ -   $ -   $ -   $ 77,766   $ -   $ -   $ 81,140   Conventional residential mortgage loans   34,799     88,104     122,903     37,968     377     121,408     40,208 Construction loans   6,991     2,672     9,663     29     20     9,782     - Commercial mortgage loans   12,687     23,266     35,953     4,655     74     40,076     2,222 Commercial and Industrial loans   6,271     13,463     19,734     6,510     51     18,773     7,061 Consumer Loans:                                         Auto loans   37     14,890     14,927     -     52     12,220     - Finance leases   -     1,925     1,925     -     11     1,354     - Personal loans   -     1,752     1,752     -     21     1,528     - Credit cards   -     -     -     4,513     -     -     4,411 Other consumer loans   1,507     3,931     5,438     -     9     5,527     - Total loans held for investment (1) (2) (3) $ 62,292   $ 150,003   $ 212,295   $ 131,441   $ 615   $ 210,668   $ 135,042
Corporation's Aging of the Loans Held for Investment by Portfolio Classes [Table text Block]	The Corporation’s aging of the loan portfolio held for investment by portfolio classes as of March 31, 2020 is as follows:                                       As of March 31, 2020                                   Puerto Rico and Virgin Islands region 30-59 Days Past Due   60-89 Days Past Due   90 days or more Past Due (1) (2)   Total Past Due   Current   Total loans held for investment (In thousands)                                   Residential mortgage loans, mainly secured by first mortgages:                                   FHA/VA government-guaranteed loans (2) (3) (4) $ -   $ 1,956   $ 77,637   $ 79,593   $ 37,734   $ 117,327 Conventional residential mortgage loans (2) (4) (5)   -     38,129     146,688     184,817     2,016,028     2,200,845 Commercial loans:                                   Construction loans (4)   -     81     9,692     9,773     48,740     58,513 Commercial mortgage loans (4) (6)   311     348     40,025     40,684     1,038,705     1,079,389 Commercial and Industrial loans   1,714     333     25,952     27,999     1,343,429     1,371,428 Consumer loans:                                   Auto loans   23,870     2,193     14,801     40,864     1,095,410     1,136,274 Finance leases   4,418     567     1,925     6,910     422,236     429,146 Personal loans   3,980     771     1,498     6,249     266,647     272,896 Credit cards   2,019     2,358     4,513     8,890     275,184     284,074 Other consumer loans   3,903     1,395     4,963     10,261     143,753     154,014 Total loans held for investment $ 40,215   $ 48,131   $ 327,694   $ 416,040   $ 6,687,866   $ 7,103,906                                           As of March 31, 2020                                   Florida region 30-59 Days Past Due   60-89 Days Past Due   90 days or more Past Due (1) (2)   Total Past Due   Current   Total loans held for investment (In thousands)                                   Residential mortgage loans, mainly secured by first mortgages:                                   FHA/VA government-guaranteed loans (2) (3) $ -   $ -   $ 129   $ 129   $ 1,059   $ 1,188 Conventional residential mortgage loans (3)   -     1,918     14,183     16,101     540,211     556,312 Commercial loans:                                   Construction loans   -     -     -     -     101,162     101,162 Commercial mortgage loans (3)   23     -     583     606     374,758     375,364 Commercial and Industrial loans   2,633     212     292     3,137     861,653     864,790 Consumer loans:                                   Auto loans   1,021     237     126     1,384     25,394     26,778 Finance leases   -     -     -     -     -     - Personal loans   -     -     254     254     171     425 Credit cards   -     -     -     -     -     - Other consumer loans   26     152     475     653     8,369     9,022 Total loans held for investment $ 3,703   $ 2,519   $ 16,042   $ 22,264   $ 1,912,777   $ 1,935,041                                           As of March 31, 2020                                   Total 30-59 Days Past Due   60-89 Days Past Due   90 days or more Past Due (1) (2)   Total Past Due   Current   Total loans held for investment (In thousands)                                   Residential mortgage loans, mainly secured by first mortgages:                                   FHA/VA government-guaranteed loans (2) (3) (4) $ -   $ 1,956   $ 77,766   $ 79,722   $ 38,793   $ 118,515 Conventional residential mortgage loans (2) (4) (5)   -     40,047     160,871     200,918     2,556,239     2,757,157 Commercial loans:                                   Construction loans (4)   -     81     9,692     9,773     149,902     159,675 Commercial mortgage loans (4) (6)   334     348     40,608     41,290     1,413,463     1,454,753 Commercial and Industrial loans   4,347     545     26,244     31,136     2,205,082     2,236,218 Consumer loans:                                   Auto loans   24,891     2,430     14,927     42,248     1,120,804     1,163,052 Finance leases   4,418     567     1,925     6,910     422,236     429,146 Personal loans   3,980     771     1,752     6,503     266,818     273,321 Credit cards   2,019     2,358     4,513     8,890     275,184     284,074 Other consumer loans   3,929     1,547     5,438     10,914     152,122     163,036 Total loans held for investment $ 43,918   $ 50,650   $ 343,736   $ 438,304   $ 8,600,643   $ 9,038,947     The Corporation’s aging of the loan portfolio held for investment by portfolio classes as of December 31, 2019 is as follows:                                       As of December 31, 2019                                   Puerto Rico and Virgin Islands region 30-59 Days Past Due   60-89 Days Past Due   90 days or more Past Due (1) (2)   Total Past Due   Current   Total loans held for investment (In thousands)                                   Residential mortgage loans, mainly secured by first mortgages:                                   FHA/VA government-guaranteed loans (2) (3) (4) $ -   $ 2,068   $ 81,011   $ 83,079   $ 39,350   $ 122,429 Conventional residential mortgage loans (2) (4) (5)   -     83,308     148,325     231,633     2,013,525     2,245,158 Commercial loans:                                   Construction loans (4)   -     105     9,782     9,887     38,359     48,246 Commercial mortgage loans (4) (6)   -     2,681     42,298     44,979     1,034,921     1,079,900 Commercial and Industrial loans   1,454     105     25,519     27,078     1,364,335     1,391,413 Consumer loans:                                   Auto loans   35,163     8,267     12,057     55,487     1,048,873     1,104,360 Finance leases   6,501     1,402     1,354     9,257     405,275     414,532 Personal loans   4,008     2,084     1,523     7,615     266,478     274,093 Credit cards   2,896     2,096     4,411     9,403     282,887     292,290 Other consumer loans   3,870     1,575     5,016     10,461     145,395     155,856 Total loans held for investment $ 53,892   $ 103,691   $ 331,296   $ 488,879   $ 6,639,398   $ 7,128,277                                           As of December 31, 2019                                   Florida region 30-59 Days Past Due   60-89 Days Past Due   90 days or more Past Due (1) (2)   Total Past Due   Current   Total loans held for investment (In thousands)                                   Residential mortgage loans, mainly secured by first mortgages:                                   FHA/VA government-guaranteed loans (2) (3) $ -   $ -   $ 129   $ 129   $ 1,351   $ 1,480 Conventional residential mortgage loans (2) (3)   -     2,193     13,291     15,484     549,222     564,706 Commercial loans:                                   Construction loans   -     -     -     -     63,071     63,071 Commercial mortgage loans (3)   -     870     -     870     363,816     364,686 Commercial and Industrial loans   331     -     315     646     838,817     839,463 Consumer loans:                                   Auto loans   1,270     272     163     1,705     28,790     30,495 Finance leases   -     -     -     -     -     - Personal loans   -     -     5     5     777     782 Credit cards   -     -     -     -     -     - Other consumer loans   147     2     511     660     8,585     9,245 Total loans held for investment $ 1,748   $ 3,337   $ 14,414   $ 19,499   $ 1,854,429   $ 1,873,928                                           As of December 31, 2019                                   Total 30-59 Days Past Due   60-89 Days Past Due   90 days or more Past Due (1) (2)   Total Past Due   Current   Total loans held for investment (In thousands)                                   Residential mortgage loans, mainly secured by first mortgages:                                   FHA/VA government-guaranteed loans (2) (3) (4) $ -   $ 2,068   $ 81,140   $ 83,208   $ 40,701   $ 123,909 Conventional residential mortgage loans (2) (4) (5)   -     85,501     161,616     247,117     2,562,747     2,809,864 Commercial loans:                                   Construction loans (4)   -     105     9,782     9,887     101,430     111,317 Commercial mortgage loans (4) (6)   -     3,551     42,298     45,849     1,398,737     1,444,586 Commercial and Industrial loans   1,785     105     25,834     27,724     2,203,152     2,230,876 Consumer loans:                                   Auto loans   36,433     8,539     12,220     57,192     1,077,663     1,134,855 Finance leases   6,501     1,402     1,354     9,257     405,275     414,532 Personal loans   4,008     2,084     1,528     7,620     267,255     274,875 Credit cards   2,896     2,096     4,411     9,403     282,887     292,290 Other consumer loans   4,017     1,577     5,527     11,121     153,980     165,101 Total loans held for investment $ 55,640   $ 107,028   $ 345,710   $ 508,378   $ 8,493,827   $ 9,002,205
Corporation's Credit Quality Indicators [Table text Block]	Based on the most recent analysis performed, the amortized cost of commercial and construction loans by portfolio classes and by origination year based on the internal credit-risk category as of March 13, 2020 and the amortized cost of commercial and construction loans by portfolio classes based on the internal credit-risk category as of December 31, 2019 was as follows:     As of March 31, 2020                 Puerto Rico and Virgin Islands Region   Term Loans               As of December 31, 2019   Amortized Cost Basis by Origination Year               (In thousands)   2020   2019   2018   2017   2016   Prior   Revolving Loans Amortized Cost Basis   Total   Total                                                         CONSTRUCTION                                                       Risk Ratings:                                                       Pass   $ 5,033   $ 13,945   $ 3,170   $ 14,629   $ 5,329   $ 3,992   $ -   $ 46,098   $ 35,680 Criticized:                                                       Special Mention     -     -     -     -     -     -     -     -     - Substandard     -     886     1,858     -     5,150     4,521     -     12,415     12,566 Doubtful     -     -     -     -     -     -     -     -     - Loss     -     -     -     -     -     -     -     -     - Total construction loans   $ 5,033   $ 14,831   $ 5,028   $ 14,629   $ 10,479   $ 8,513   $ -   $ 58,513   $ 48,246                                                         COMMERCIAL MORTGAGE                                                       Risk Ratings:                                                       Pass   $ 86,063   $ 295,273   $ 175,341   $ 42,555   $ 73,336   $ 260,877   $ 13   $ 933,458   $ 891,298 Criticized:                                                       Special Mention     284     -     -     79,998     -     11,205     -     91,487     13,080 Substandard     -     -     -     -     2,337     52,107     -     54,444     175,522 Doubtful     -     -     -     -     -     -     -     -     - Loss     -     -     -     -     -     -     -     -     - Total commercial mortgage loans   $ 86,347   $ 295,273   $ 175,341   $ 122,553   $ 75,673   $ 324,189   $ 13   $ 1,079,389   $ 1,079,900                                                         COMMERCIAL AND INDUSTRIAL                                                       Risk Ratings:                                                       Pass   $ 10,811   $ 225,388   $ 146,464   $ 138,815   $ 55,130   $ 304,636   $ 423,165   $ 1,304,409   $ 1,321,804 Criticized:                                                       Special Mention     -     -     573     933     82     9,175     8,485     19,248     39,327 Substandard     -     96     2,491     98     1,197     38,136     5,753     47,771     27,265 Doubtful     -     -     -     -     -     -     -     -     2,768 Loss     -     -     -     -     -     -     -     -     249 Total commercial and industrial loans   $ 10,811   $ 225,484   $ 149,528   $ 139,846   $ 56,409   $ 351,947   $ 437,403   $ 1,371,428   $ 1,391,413                 As of March 31, 2020                                 Term Loans               As of December 31, 2019 Florida Region               Amortized Cost Basis by Origination Year               (In thousands)   2020   2019   2018   2017   2016   Prior   Revolving Loans Amortized Cost Basis   Total   Total                                                         CONSTRUCTION                                                       Risk Ratings:                                                       Pass   $ 30,335   $ 9,744   $ 39,703   $ 17,064   $ -   $ -   $ 4,316   $ 101,162   $ 63,071 Criticized:                                                       Special Mention     -     -     -     -     -     -     -     -     - Substandard     -     -     -     -     -     -     -     -     - Doubtful     -     -     -     -     -     -     -     -     - Loss     -     -     -     -     -     -     -     -     - Total construction loans   $ 30,335   $ 9,744   $ 39,703   $ 17,064   $ -   $ -   $ 4,316   $ 101,162   $ 63,071                                                         COMMERCIAL MORTGAGE                                                       Risk Ratings:                                                       Pass   $ 1,314   $ 82,887   $ 36,929   $ 46,347   $ 52,333   $ 90,578   $ 64,661   $ 375,049   $ 364,370 Criticized:                                                       Special Mention     -     -     -     -     -     -     -     -     - Substandard     -     -     -     -     -     315     -     315     316 Doubtful     -     -     -     -     -     -     -     -     - Loss     -     -     -     -     -     -     -     -     - Total commercial mortgage loans   $ 1,314   $ 82,887   $ 36,929   $ 46,347   $ 52,333   $ 90,893   $ 64,661   $ 375,364   $ 364,686                                                         COMMERCIAL AND INDUSTRIAL                                                       Risk Ratings:                                                       Pass   $ 34,894   $ 244,020   $ 152,326   $ 164,636   $ 21,747   $ 65,450   $ 179,979   $ 863,052   $ 837,697 Criticized:                                                       Special Mention     -     -     -     -     -     -     -     -     1,766 Substandard     -     -     -     -     -     1,738     -     1,738     - Doubtful     -     -     -     -     -     -     -     -     - Loss     -     -     -     -     -     -     -     -     - Total commercial and industrial loans   $ 34,894   $ 244,020   $ 152,326   $ 164,636   $ 21,747   $ 67,188   $ 179,979   $ 864,790   $ 839,463     As of March 31, 2020                 Total   Term Loans               As of December 31, 2019     Amortized Cost Basis by Origination Year               (In thousands)   2020   2019   2018   2017   2016   Prior   Revolving Loans Amortized Cost Basis   Total   Total                                                         CONSTRUCTION                                                       Risk Ratings:                                                       Pass   $ 35,368   $ 23,689   $ 42,873   $ 31,693   $ 5,329   $ 3,992   $ 4,316   $ 147,260   $ 98,751 Criticized:                                                       Special Mention     -     -     -     -     -     -     -     -     - Substandard     -     886     1,858     -     5,150     4,521     -     12,415     12,566 Doubtful     -     -     -     -     -     -     -     -     - Loss     -     -     -     -     -     -     -     -     - Total construction loans   $ 35,368   $ 24,575   $ 44,731   $ 31,693   $ 10,479   $ 8,513   $ 4,316   $ 159,675   $ 111,317                                                         COMMERCIAL MORTGAGE                                                       Risk Ratings:                                                       Pass   $ 87,377   $ 378,159   $ 212,270   $ 88,902   $ 125,669   $ 351,455   $ 64,674   $ 1,308,506   $ 1,255,668 Criticized:                                                       Special Mention     284     -     -     79,999     -     11,205     -     91,488     13,080 Substandard     -     -     -     -     2,337     52,422     -     54,759     175,838 Doubtful     -     -     -     -     -     -     -     -     - Loss     -     -     -     -     -     -     -     -     - Total commercial mortgage loans   $ 87,661   $ 378,159   $ 212,270   $ 168,901   $ 128,006   $ 415,082   $ 64,674   $ 1,454,753   $ 1,444,586                                                         COMMERCIAL AND INDUSTRIAL                                                       Risk Ratings:                                                       Pass   $ 45,706   $ 469,408   $ 298,790   $ 303,451   $ 76,877   $ 370,085   $ 603,144   $ 2,167,461   $ 2,159,501 Criticized:                                                       Special Mention     -     -     573     933     82     9,175     8,485     19,248     39,327 Substandard     -     96     2,491     98     1,197     39,874     5,753     49,509     29,031 Doubtful     -     -     -     -     -     -     -     -     2,768 Loss     -     -     -     -     -     -     -     -     249 Total commercial and industrial loans   $ 45,706   $ 469,504   $ 301,854   $ 304,482   $ 78,156   $ 419,134   $ 617,382   $ 2,236,218   $ 2,230,876 The following table presents the amortized cost in residential mortgage loans by origination year based on original loan-to-value-ratio (LTV) and original credit scores as of March 31, 2020 and the amortized cost in residential mortgage loans by original LTV and original credit scores as of December 31, 2019:     As of March 31, 2020               As of December 31, 2019     Term Loans               RESIDENTIAL MORTGAGES   Amortized Cost Basis by Origination Year               (In thousands)   2020   2019   2018   2017   2016   Prior   Revolving Loans Amortized Cost Basis   Total   Total                                                                                                                 Puerto Rico and Virgin Islands region:                                                       FHA/VA government-guaranteed loans   $ -   $ 356   $ 2,130   $ 2,770   $ 5,739   $ 106,332   $ -   $ 117,327   $ 122,429 Conventional residential mortgage loans:                                                       Original LTV                                                       Less than or equal to 90 percent     10,306     63,081     98,430     64,562     85,527     1,331,475     -     1,653,381     1,684,340 Greater than 90 percent but less than                                                       or equal to 100 percent     163     1,567     5,073     2,414     11,432     429,446     -     450,095     460,879 Greater than 100 percent     -     926     5,497     3,138     7,323     80,485     -     97,369     99,939 Total residential mortgages in                                                       Puerto Rico and Virgin Islands region   $ 10,469   $ 65,930   $ 111,130   $ 72,884   $ 110,021   $ 1,947,738   $ -   $ 2,318,172   $ 2,367,587                                                         Florida region:                                                       FHA/VA government-guaranteed loans   $ -   $ -   $ -   $ 290   $ -   $ 898   $ -   $ 1,188   $ 1,480 Conventional residential mortgage loans:                                                       Original LTV                                                       Less than or equal to 90 percent     8,591     56,229     69,912     97,647     89,226     219,892     -     541,497     549,850 Greater than 90 percent but less than                                                       or equal to 100 percent     180     2,047     3,298     5,334     2,540     1,357     -     14,756     14,796 Greater than 100 percent     -     -     -     -     -     59     -     59     60 Total residential mortgages in Florida region   $ 8,771   $ 58,276   $ 73,210   $ 103,271   $ 91,766   $ 222,206   $ -   $ 557,500   $ 566,186                                                         Total:                                                       FHA/VA government-guaranteed loans   $ -   $ 356   $ 2,130   $ 3,060   $ 5,739   $ 107,230   $ -   $ 118,515   $ 123,909 Conventional residential mortgage loans:                                                       Original LTV                                                       Less than or equal to 90 percent     18,897     119,310     168,342     162,209     174,753     1,551,367     -     2,194,878     2,234,190 Greater than 90 percent but less than                                                       or equal to 100 percent     343     3,614     8,371     7,748     13,972     430,803     -     464,851     475,675 Greater than 100 percent     -     926     5,497     3,138     7,323     80,544     -     97,428     99,999 Total residential mortgages   $ 19,240   $ 124,206   $ 184,340   $ 176,155   $ 201,787   $ 2,169,944   $ -   $ 2,875,672   $ 2,933,773                                                             As of March 31, 2020               As of December 31, 2019     Term Loans               RESIDENTIAL MORTGAGES   Amortized Cost Basis by Origination Year               (In thousands)   2020   2019   2018   2017   2016   Prior   Revolving Loans Amortized Cost Basis   Total   Total                                                                                                                 Puerto Rico and Virgin Islands region:                                                       FHA/VA government-guaranteed loans   $ -   $ 356   $ 2,130   $ 2,770   $ 5,739   $ 106,332   $ -   $ 117,327   $ 122,429 Conventional residential mortgage loans:                                                       FICO Score                                                       Less than 620     -     -     463     1,280     75     280,356     -     282,174     286,754 Greater than or equal to 620                                                       and less than 680     89     2,223     7,359     6,920     7,781     380,022     -     404,394     416,766 Greater than or equal to 680                                                       and less than 740     4,682     23,085     40,264     21,361     35,242     492,137     -     616,771     626,291 Greater than or equal to 740     5,698     40,266     60,914     40,553     61,184     688,891     -     897,506     915,347 Total residential mortgages in                                                       Puerto Rico and Virgin Islands region   $ 10,469   $ 65,930   $ 111,130   $ 72,884   $ 110,021   $ 1,947,738   $ -   $ 2,318,172   $ 2,367,587                                                         Florida region:                                                       FHA/VA government-guaranteed loans   $ -   $ -   $ -   $ 290   $ -   $ 898   $ -   $ 1,188   $ 1,480 Conventional residential mortgage loans:                                                       FICO Score                                                       Less than 620     -     -     2,567     -     -     898     -     3,465     3,485 Greater than or equal to 620                                                       and less than 680     264     5,155     3,643     10,412     11,910     18,380     -     49,764     51,164 Greater than or equal to 680                                                       and less than 740     2,807     16,871     17,911     32,859     29,656     49,568     -     149,672     151,544 Greater than or equal to 740     5,700     36,250     49,089     59,710     50,200     152,462     -     353,411     358,513 Total residential mortgages in Florida region   $ 8,771   $ 58,276   $ 73,210   $ 103,271   $ 91,766   $ 222,206   $ -   $ 557,500   $ 566,186                                                         Total:                                                       FHA/VA government-guaranteed loans   $ -   $ 356   $ 2,130   $ 3,060   $ 5,739   $ 107,230   $ -   $ 118,515   $ 123,909 Conventional residential mortgage loans:                                                       FICO Score                                                       Less than 620     -     -     3,030     1,280     75     281,254     -     285,639     290,239 Greater than or equal to 620                                                       and less than 680     353     7,378     11,002     17,332     19,691     398,402     -     454,158     467,930 Greater than or equal to 680                                                       and less than 740     7,489     39,956     58,175     54,220     64,898     541,705     -     766,443     777,835 Greater than or equal to 740     11,398     76,516     110,003     100,263     111,384     841,353     -     1,250,917     1,273,860 Total residential mortgages   $ 19,240   $ 124,206   $ 184,340   $ 176,155   $ 201,787   $ 2,169,944   $ -   $ 2,875,672   $ 2,933,773 The following table presents the amortized cost in consumer loans by origination year based on original credit scores as of March 31, 2020 and consumer loans based on original credit scores as of December 31, 2019: CONSUMER   As of March 31, 2020                     Term Loans               As of December 31, 2019 Puerto Rico and Virgin Islands Region   Amortized Cost Basis by Origination Year               (In thousands)   2020   2019   2018   2017   2016   Prior   Revolving Loans Amortized Cost Basis   Total   Total                                                                                                                 Auto loans                                                       Original FICO score                                                       Less than 620   $ 13,484   $ 55,007   $ 29,046   $ 13,441   $ 9,764   $ 8,755   $ -   $ 129,497   $ 126,540 Greater than or equal to 620                                                       and less than 680     36,068     160,298     104,758     47,050     24,460     23,238     -     395,872     388,890 Greater than or equal to 680                                                       and less than 740     31,582     141,358     88,652     40,956     24,097     16,273     -     342,918     333,734 Greater than or equal to 740     30,328     110,340     58,096     33,387     22,474     13,362     -     267,987     255,196 Total auto loans   $ 111,462   $ 467,003   $ 280,552   $ 134,834   $ 80,795   $ 61,628   $ -   $ 1,136,274   $ 1,104,360                                                         Finance leases                                                       Original FICO score                                                       Less than 620   $ 917   $ 6,052   $ 5,140   $ 2,259   $ 737   $ 591   $ -   $ 15,696   $ 15,852 Greater than or equal to 620                                                       and less than 680     6,651     39,654     31,521     14,862     6,261     4,352     -     103,301     100,438 Greater than or equal to 680                                                       and less than 740     11,902     64,512     53,723     22,471     14,122     8,562     -     175,292     170,034 Greater than or equal to 740     10,817     54,977     38,009     11,689     12,748     6,617     -     134,857     128,208 Total finance leases   $ 30,287   $ 165,195   $ 128,393   $ 51,281   $ 33,868   $ 20,122   $ -   $ 429,146   $ 414,532                                                         Personal loans                                                       Original FICO score                                                       Less than 620   $ 840   $ 3,042   $ 2,088   $ 820   $ 718   $ 618   $ -   $ 8,126   $ 8,197 Greater than or equal to 620                                                       and less than 680     4,901     27,691     12,014     4,921     1,849     1,032     -     52,408     52,712 Greater than or equal to 680                                                       and less than 740     11,790     53,286     27,814     13,053     5,677     3,045     -     114,665     114,147 Greater than or equal to 740     8,746     40,676     26,457     12,686     6,275     2,857     -     97,697     98,668 Unscorable     -     -     -     -     -     -     -     -     369 Total personal loans   $ 26,277   $ 124,695   $ 68,373   $ 31,480   $ 14,519   $ 7,552   $ -   $ 272,896   $ 274,093                                                         Credit cards                                                       Original FICO score                                                       Less than 620   $ -   $ -   $ -   $ -   $ -   $ -   $ 10,823   $ 10,823   $ 11,247 Greater than or equal to 620                                                       and less than 680     -     -     -     -     -     -     57,032     57,032     57,643 Greater than or equal to 680                                                       and less than 740     -     -     -     -     -     -     124,289     124,289     126,977 Greater than or equal to 740     -     -     -     -     -     -     91,930     91,930     96,423 Total credit cards   $ -   $ -   $ -   $ -   $ -   $ -   $ 284,074   $ 284,074   $ 292,290                                                         Other consumer loans                                                       Original FICO score                                                       Less than 620   $ 2,887   $ 13,848   $ 3,776   $ 2,308   $ 1,046   $ 812   $ 3,608   $ 28,285   $ 28,251 Greater than or equal to 620                                                       and less than 680     7,984     33,375     9,625     5,282     2,455     7,012     1,982     67,715     68,727 Greater than or equal to 680                                                       and less than 740     5,475     19,082     6,238     3,065     1,366     3,329     3,367     41,922     41,914 Greater than or equal to 740     1,234     5,074     1,630     928     408     2,115     1,692     13,081     13,359 Unscorable     -     -     -     -     -     2,613     398     3,011     3,605 Total other consumer loans   $ 17,580   $ 71,379   $ 21,269   $ 11,583   $ 5,275   $ 15,881   $ 11,047   $ 154,014   $ 155,856                                                         Total consumer loans in Puerto Rico and Virgin Islands region   $ 185,606   $ 828,272   $ 498,587   $ 229,178   $ 134,457   $ 105,183   $ 295,121   $ 2,276,404   $ 2,241,131 CONSUMER   As of March 31, 2020                     Term Loans               As of December 31, 2019 Florida Region   Amortized Cost Basis by Origination Year               (In thousands)   2020   2019   2018   2017   2016   Prior   Revolving Loans Amortized Cost Basis   Total   Total                                                                                                                 Auto loans                                                       Original FICO score                                                       Less than 620   $ -   $ 38   $ 1,182   $ 1,070   $ 869   $ 237   $ -   $ 3,396   $ 3,857 Greater than or equal to 620                                                       and less than 680     -     625     5,286     4,316     2,122     812     -     13,161     15,052 Greater than or equal to 680                                                       and less than 740     -     538     3,991     1,886     834     266     -     7,515     8,590 Greater than or equal to 740     -     352     1,758     409     148     39     -     2,706     2,996 Total auto loans   $ -   $ 1,553   $ 12,217   $ 7,681   $ 3,973   $ 1,354   $ -   $ 26,778   $ 30,495                                                         Finance leases                                                       Original FICO score                                                       Less than 620   $ -   $ -   $ -   $ -   $ -   $ -   $ -   $ -   $ - Greater than or equal to 620                                                       and less than 680     -     -     -     -     -     -     -     -     - Greater than or equal to 680                                                       and less than 740     -     -     -     -     -     -     -     -     - Greater than or equal to 740     -     -     -     -     -     -     -     -     - Total finance leases   $ -   $ -   $ -   $ -   $ -   $ -   $ -   $ -   $ -                                                         Personal loans                                                       Original FICO score                                                       Less than 620   $ -   $ 11   $ -   $ 5   $ 250   $ -   $ -   $ 266   $ 593 Greater than or equal to 620                                                       and less than 680     10     -     -     -     -     -     -     10     - Greater than or equal to 680                                                       and less than 740     -     53     -     26     -     -     -     79     85 Greater than or equal to 740     -     -     -     70     -     -     -     70     71 Unscorable     -     -     -     -     -     -     -     -     33 Total personal loans   $ 10   $ 64   $ -   $ 101   $ 250   $ -   $ -   $ 425   $ 782                                                         Credit cards                                                       Original FICO score                                                       Less than 620   $ -   $ -   $ -   $ -   $ -   $ -   $ -   $ -   $ - Greater than or equal to 620                                                       and less than 680     -     -     -     -     -     -     -     -     - Greater than or equal to 680                                                       and less than 740     -     -     -     -     -     -     -     -     - Greater than or equal to 740     -     -     -     -     -     -     -     -     - Total credit cards   $ -   $ -   $ -   $ -   $ -   $ -   $ -   $ -   $ -                                                         Other consumer loans                                                       Original FICO score                                                       Less than 620   $ -   $ 77   $ -   $ -   $ -   $ -   $ -   $ 77   $ 83 Greater than or equal to 620                                                       and less than 680     189     -     -     109     29     631     96     1,054     874 Greater than or equal to 680                                                       and less than 740     -     -     43     51     329     1,313     780     2,516     2,559 Greater than or equal to 740     -     -     -     25     325     2,908     2,117     5,375     5,573 Unscorable     -     -     -     -     -     -     -     -     156 Total other consumer loans   $ 189   $ 77   $ 43   $ 185   $ 683   $ 4,852   $ 2,993   $ 9,022   $ 9,245                                                         Total consumer loans in Florida region   $ 199   $ 1,694   $ 12,260   $ 7,967   $ 4,906   $ 6,206   $ 2,993   $ 36,225   $ 40,522 CONSUMER   As of March 31, 2020                     Term Loans               As of December 31, 2019 Total   Amortized Cost Basis by Origination Year               (In thousands)   2020   2019   2018   2017   2016   Prior   Revolving Loans Amortized Cost Basis   Total   Total                                                                                                                 Auto loans                                                       Original FICO score                                                       Less than 620   $ 13,484   $ 55,045   $ 30,228   $ 14,511   $ 10,633   $ 8,992   $ -   $ 132,893   $ 130,397 Greater than or equal to 620                                                       and less than 680     36,068     160,923     110,044     51,366     26,582     24,050     -     409,033     403,942 Greater than or equal to 680                                                       and less than 740     31,582     141,896     92,643     42,842     24,931     16,539     -     350,433     342,324 Greater than or equal to 740     30,328     110,692     59,854     33,796     22,622     13,401     -     270,693     258,192 Total auto loans   $ 111,462   $ 468,556   $ 292,769   $ 142,515   $ 84,768   $ 62,982   $ -   $ 1,163,052   $ 1,134,855                                                         Finance leases                                                       Original FICO score                                                       Less than 620   $ 917   $ 6,052   $ 5,140   $ 2,259   $ 737   $ 591   $ -   $ 15,696   $ 15,852 Greater than or equal to 620                                                       and less than 680     6,651     39,654     31,521     14,862     6,261     4,352     -     103,301     100,438 Greater than or equal to 680                                                       and less than 740     11,902     64,512     53,723     22,471     14,122     8,562     -     175,292     170,034 Greater than or equal to 740     10,817     54,977     38,009     11,689     12,748     6,617     -     134,857     128,208 Total finance leases   $ 30,287   $ 165,195   $ 128,393   $ 51,281   $ 33,868   $ 20,122   $ -   $ 429,146   $ 414,532                                                         Personal loans                                                       Original FICO score                                                       Less than 620   $ 840   $ 3,053   $ 2,088   $ 825   $ 968   $ 618   $ -   $ 8,392   $ 8,790 Greater than or equal to 620                                                       and less than 680     4,911     27,691     12,014     4,921     1,849     1,032     -     52,418     52,712 Greater than or equal to 680                                                       and less than 740     11,790     53,339     27,814     13,079     5,677     3,045     -     114,744     114,232 Greater than or equal to 740     8,746     40,676     26,457     12,756     6,275     2,857     -     97,767     98,739 Unscorable     -     -     -     -     -     -     -     -     402 Total personal loans   $ 26,287   $ 124,759   $ 68,373   $ 31,581   $ 14,769   $ 7,552   $ -   $ 273,321   $ 274,875                                                         Credit cards                                                       Original FICO score                                                       Less than 620   $ -   $ -   $ -   $ -   $ -   $ -   $ 10,823   $ 10,823   $ 11,247 Greater than or equal to 620                                                       and less than 680     -     -     -     -     -     -     57,032     57,032     57,643 Greater than or equal to 680                                                       and less than 740     -     -     -     -     -     -     124,289     124,289     126,977 Greater than or equal to 740     -     -     -     -     -     -     91,930     91,930     96,423 Total credit cards   $ -   $ -   $ -   $ -   $ -   $ -   $ 284,074   $ 284,074   $ 292,290                                                         Other consumer loans                                                       Original FICO score                                                       Less than 620   $ 2,887   $ 13,925   $ 3,776   $ 2,308   $ 1,046   $ 812   $ 3,608   $ 28,362   $ 28,334 Greater than or equal to 620                                                       and less than 680     8,173     33,375     9,625     5,391     2,484     7,643     2,078     68,769     69,601 Greater than or equal to 680                                                       and less than 740     5,475     19,082     6,281     3,116     1,695     4,642     4,147     44,438     44,473 Greater than or equal to 740     1,234     5,074     1,630     953     733     5,023     3,809     18,456     18,932 Unscorable     -     -     -     -     -     2,613     398     3,011     3,761 Total other consumer loans   $ 17,769   $ 71,456   $ 21,312   $ 11,768   $ 5,958   $ 20,733   $ 14,040   $ 163,036   $ 165,101                                                         Total consumer loans   $ 185,805   $ 829,966   $ 510,847   $ 237,145   $ 139,363   $ 111,389   $ 298,114   $ 2,312,629   $ 2,281,653
Collateral Pledged [Member]
Accounts Notes And Loans Receivable [Line Items]
Loan Portfolio Held for Investment [Table Text Block]	The following tables present information about collateral dependent loans individually evaluated for purposes of determining the ACL as of March 31, 2020:                       Collateral dependent loans                     March 31, 2020                                 Collateral Dependent Loans - With Specific Allowance   Collateral Dependent Loans - With No Related Specific Allowance   Collateral Dependent Loans - Total Puerto Rico and Virgin Islands region Amortized Cost (1)   Related Specific Allowance   Amortized Cost (1)   Amortized Cost (1)   Related Specific Allowance (In thousands)                             Residential mortgage loans:                             FHA/VA government-guaranteed loans $ -   $ -   $ -   $ -   $ - Conventional residential mortgage loans   127,100     12,687     45,770     172,870     12,687 Commercial loans:                             Construction loans   -     -     9,358     9,358     - Commercial mortgage loans   21,990     5,053     41,844     63,834     5,053 Commercial and Industrial loans   12,763     5,653     17,296     30,059     5,653 Consumer loans:                             Auto loans   -     -     -     -     - Finance leases   -     -     -     -     - Personal loans   146     2     -     146     2 Credit cards   -     -     -     -     - Other consumer loans   893     68     63     956     68   $ 162,892   $ 23,463   $ 114,331   $ 277,223   $ 23,463       Collateral Dependent Loans - With Specific Allowance   Collateral Dependent Loans - With No Related Specific Allowance   Collateral Dependent Loans - Total Florida region Amortized Cost (1)   Related Specific Allowance   Amortized Cost (1)   Amortized Cost (1)   Related Specific Allowance (In thousands)                             Residential mortgage loans:                             FHA/VA government-guaranteed loans $ -   $ -   $ -   $ -   $ - Conventional residential mortgage loans   8,459     1,091     707     9,166     1,091 Commercial loans:                             Construction loans   -     -     -     -     - Commercial mortgage loans   -     -     5,175     5,175     - Commercial and Industrial loans   -     -     292     292     - Consumer loans:                             Auto loans   -     -     -     -     - Finance leases   -     -     -     -     - Personal loans   -     -     -     -     - Credit cards   -     -     -     -     - Other consumer loans   -     -     -     -     -   $ 8,459   $ 1,091   $ 6,174   $ 14,633   $ 1,091       Collateral Dependent Loans - With Specific Allowance   Collateral Dependent Loans - With No Related Specific Allowance   Collateral Dependent Loans - Total Total Amortized Cost (1)   Related Specific Allowance   Amortized Cost (1)   Amortized Cost (1)   Related Specific Allowance (In thousands)                             Residential mortgage loans:                             FHA/VA government-guaranteed loans $ -   $ -   $ -   $ -   $ - Conventional residential mortgage loans   135,559     13,778     46,477     182,036     13,778 Commercial loans:                             Construction loans   -     -     9,358     9,358     - Commercial mortgage loans   21,990     5,053     47,019     69,009     5,053 Commercial and Industrial loans   12,763     5,653     17,588     30,351     5,653 Consumer loans:                     -     - Auto loans   -     -     -     -     - Finance leases   -     -     -     -     - Personal loans   146     2     -     146     2 Credit cards   -     -     -     -     - Other consumer loans   893     68     63     956     68   $ 171,351   $ 24,554   $ 120,505   $ 291,856   $ 24,554
Entity Loan Modification Program [Member]
Accounts Notes And Loans Receivable [Line Items]
Troubled Debt Restructurings On Financing Receivables Table [Text Block]	As of March 31, 2020 Puerto Rico and Virgin Islands region Interest rate below market   Maturity or term extension   Combination of reduction in interest rate and extension of maturity   Forgiveness of principal and/or interest   Forbearance Agreement     Other (1)   Total (In thousands)                                           TDRs:                                           Conventional residential mortgage loans $ 18,096   $ 11,566   $ 214,077   $ -   $ 223     $ 63,921   $ 307,883 Construction loans   23     2,436     1,634     -     -       182     4,275 Commercial mortgage loans   890     1,404     38,850     -     19,776       7,933     68,853 Commercial and industrial loans   561     14,786     11,481     -     19,056       36,543     82,427 Consumer loans:                                           Auto loans   -     705     6,622     -     -       6,766     14,093 Finance leases   -     33     897     -     -       621     1,551 Personal loans   24     36     773     -     -       241     1,074 Credit cards   -     -     2,733     21     -       -     2,754 Other consumer loans   1,938     1,146     742     177     -       340     4,343 Total Troubled Debt Restructurings in Puerto Rico                                           and Virgin Islands region $ 21,532   $ 32,112   $ 277,809   $ 198   $ 39,055     $ 116,547   $ 487,253     As of March 31, 2020 Florida region Interest rate below market   Maturity or term extension   Combination of reduction in interest rate and extension of maturity   Forgiveness of principal and/or interest   Forbearance Agreement     Other (1)   Total (In thousands)                                           TDRs:                                           Conventional residential mortgage loans $ 1,002   $ 410   $ 2,037   $ -   $ -     $ 31   $ 3,480 Construction loans   -     -     -     -     -       -     - Commercial mortgage loans   2,876     855     1,748     -     -       -     5,479 Commercial and industrial loans   -     -     -     -     -       292     292 Consumer loans:                                           Auto loans   -     74     19     -     -       -     93 Finance leases   -     -     -     -     -       -     - Personal loans   -     -     -     -     -       -     - Credit cards   -     -     -     -     -       -     - Other consumer loans   37     -     181     -     -       480     698 Total Troubled Debt Restructurings in Florida Region $ 3,915   $ 1,339   $ 3,985   $ -   $ -     $ 803   $ 10,042     As of March 31, 2020 Total Interest rate below market   Maturity or term extension   Combination of reduction in interest rate and extension of maturity   Forgiveness of principal and/or interest   Forbearance Agreement     Other (1)   Total (In thousands)                                           TDRs:                                           Conventional residential mortgage loans $ 19,098   $ 11,976   $ 216,114   $ -   $ 223     $ 63,952   $ 311,363 Construction loans   23     2,436     1,634     -     -       182     4,275 Commercial mortgage loans   3,766     2,259     40,598     -     19,776       7,933     74,332 Commercial and industrial loans   561     14,786     11,481     -     19,056       36,835     82,719 Consumer loans:                                           Auto loans   -     779     6,641     -     -       6,766     14,186 Finance leases   -     33     897     -     -       621     1,551 Personal loans   24     36     773     -     -       241     1,074 Credit cards   -     -     2,733     21     -       -     2,754 Other consumer loans   1,975     1,146     923     177     -       820     5,041 Total Troubled Debt Restructurings $ 25,447   $ 33,451   $ 281,794   $ 198   $ 39,055     $ 117,350   $ 497,295                                                   As of December 31, 2019 Puerto Rico and Virgin Islands region Interest rate below market   Maturity or term extension   Combination of reduction in interest rate and extension of maturity   Forgiveness of principal and/or interest   Forbearance Agreement     Other (1)   Total (In thousands)                                           TDRs:                                           Conventional residential mortgage loans $ 18,561   $ 11,188   $ 219,618   $ -   $ 142     $ 63,638   $ 313,147 Construction loans   24     2,469     1,639     -     -       189     4,321 Commercial mortgage loans   909     1,414     39,131     -     19,848       8,149     69,451 Commercial and industrial loans   579     16,160     12,077     142     692       36,884     66,534 Consumer loans:                                           Auto loans   -     801     7,374     -     -       6,249     14,424 Finance leases   -     40     1,066     -     -       426     1,532 Personal loans   26     43     845     -     -       159     1,073 Credit cards   -     -     2,767     24     -       -     2,791 Other consumer loans   2,020     1,196     770     180     -       337     4,503 Total Troubled Debt Restructurings in Puerto Rico                                           and Virgin Island region $ 22,119   $ 33,311   $ 285,287   $ 346   $ 20,682     $ 116,031   $ 477,776                                                                                                 As of December 31, 2019 Florida region Interest rate below market   Maturity or term extension   Combination of reduction in interest rate and extension of maturity   Forgiveness of principal and/or interest   Forbearance Agreement     Other (1)   Total (In thousands)                                           TDRs:                                           Conventional residential mortgage loans $ 1,009   $ 412   $ 2,049   $ -   $ -     $ 32   $ 3,502 Construction loans   -     -     -     -     -       -     - Commercial mortgage loans   2,901     862     1,765     -     -       -     5,528 Commercial and industrial loans   -     -     -     -     -       315     315 Consumer loans:                                           Auto loans   -     97     19     -     -       -     116 Finance leases   -     -     -     -     -       -     - Personal loans   -     -     -     -     -       -     - Credit cards   -     -     -     -     -       -     - Other consumer loans   39     -     183     -     -       538     760 Total Troubled Debt Restructurings in Florida region $ 3,949   $ 1,371   $ 4,016   $ -   $ -     $ 885   $ 10,221                                                   As of December 31, 2019 Total Interest rate below market   Maturity or term extension   Combination of reduction in interest rate and extension of maturity   Forgiveness of principal and/or interest   Forbearance Agreement     Other (1)   Total (In thousands)                                           TDRs:                                           Conventional residential mortgage loans $ 19,570   $ 11,600   $ 221,667   $ -   $ 142     $ 63,670   $ 316,649 Construction loans   24     2,469     1,639     -     -       189     4,321 Commercial mortgage loans   3,810     2,276     40,896     -     19,848       8,149     74,979 Commercial and industrial loans   579     16,160     12,077     142     692       37,199     66,849 Consumer loans:                                           Auto loans   -     898     7,393     -     -       6,249     14,540 Finance leases   -     40     1,066     -     -       426     1,532 Personal loans   26     43     845     -     -       159     1,073 Credit cards   -     -     2,767     24     -       -     2,791 Other consumer loans   2,059     1,196     953     180     -       875     5,263 Total Troubled Debt Restructurings $ 26,068   $ 34,682   $ 289,303   $ 346   $ 20,682     $ 116,916   $ 487,997                                               The following table presents the Corporation's TDR loans held for investment activity for the indicated periods:                   Quarter Ended     March 31, 2020   March 31, 2019 (In thousands)           Beginning balance of TDRs $ 487,997   $ 582,647 New TDRs   23,125     25,459 Increases to existing TDRs   103     1,175 Charge-offs post modification   (2,337)     (2,821) Foreclosures   (1,611)     (3,643) Paid-off, partial payments and other   (9,982)     (13,022) Ending balance of TDRs $ 497,295   $ 589,795                             The following tables provide a breakdown of the TDR loans held for investment by those in accrual and nonaccrual status as of the indicated periods:                                             March 31, 2020 Puerto Rico and             Virgin Islands region   Florida region   Total   Accrual Nonaccrual Total TDRs   Accrual Nonaccrual Total TDRs   Accrual Nonaccrual (1) Total TDRs (In thousands)                                         Conventional residential mortgage loans $ 253,077 $ 54,806 $ 307,883   $ 3,420 $ 60 $ 3,480   $ 256,497 $ 54,866 $ 311,363 Construction loans   3,200   1,075   4,275     -   -   -     3,200   1,075   4,275 Commercial mortgage loans   45,193   23,660   68,853     5,479   -   5,479     50,672   23,660   74,332 Commercial and industrial loans   73,531   8,896   82,427     -   292   292     73,531   9,188   82,719 Consumer loans:                                         Auto loans   7,928   6,165   14,093     93   -   93     8,021   6,165   14,186 Finance leases   1,544   7   1,551     -   -   -     1,544   7   1,551 Personal loans   1,052   22   1,074     -   -   -     1,052   22   1,074 Credit Cards   2,754   -   2,754     -   -   -     2,754   -   2,754 Other consumer loans   3,671   672   4,343     661   37   698     4,332   709   5,041 Total Troubled Debt Restructurings $ 391,950 $ 95,303 $ 487,253   $ 9,653 $ 389 $ 10,042   $ 401,603 $ 95,692 $ 497,295                                             December 31, 2019 Puerto Rico and             Virgin Islands region   Florida region   Total   Accrual Nonaccrual Total TDRs   Accrual Nonaccrual Total TDRs   Accrual Nonaccrual (1) Total TDRs (In thousands)                                         Conventional residential mortgage loans $ 262,244 $ 50,903 $ 313,147   $ 3,502 $ - $ 3,502   $ 265,746 $ 50,903 $ 316,649 Construction loans   3,238   1,083   4,321     -   -   -     3,238   1,083   4,321 Commercial mortgage loans   45,534   23,917   69,451     5,528   -   5,528     51,062   23,917   74,979 Commercial and industrial loans   59,689   6,845   66,534     -   315   315     59,689   7,160   66,849 Consumer loans:                                         Auto loans   8,440   5,984   14,424     116   -   116     8,556   5,984   14,540 Finance leases   1,502   30   1,532     -   -   -     1,502   30   1,532 Personal loans   1,052   21   1,073     -   -   -     1,052   21   1,073 Credit Cards   2,791   -   2,791     -   -   -     2,791   -   2,791 Other consumer loans   3,898   605   4,503     723   37   760     4,621   642   5,263 Total Troubled Debt Restructurings $ 388,388 $ 89,388 $ 477,776   $ 9,869 $ 352 $ 10,221   $ 398,257 $ 89,740 $ 487,997 Loan modifications that are considered TDR loans completed during the first quarter of 2020 and 2019 were as follows:                                                 March 31, 2020                                                 Number of contracts   Pre-modification Amortized Cost   Post-modification Amortized Cost   Number of contracts   Pre-modification Amortized Cost   Post-modification Amortized Cost   Number of contracts   Pre-modification Amortized Cost   Post-modification Amortized Cost (Dollars in thousands)                                               TDRs:                                               Conventional residential mortgage loans 32   $ 3,124   $ 2,560   -   $ -   $ -   32   $ 3,124   $ 2,560 Construction loans -     -     -   -     -     -   -     -     - Commercial mortgage loans 2     75     81   -     -     -   2     75     81 Commercial and industrial loans 3     18,386     18,386   -     -     -   3     18,386     18,386 Consumer loans:                                               Auto loans 81     1,241     1,235   -     -     -   81     1,241     1,235 Finance leases 21     284     284   -     -     -   21     284     284 Personal loans 13     113     111   -     -     -   13     113     111 Credit Cards 57     280     280   -     -     -   57     280     280 Other consumer loans 64     180     188   -     -     -   64     180     188 Total Troubled Debt Restructurings 273   $ 23,683   $ 23,125   -   $ -   $ -   273   $ 23,683   $ 23,125                                                 March 31, 2019                                                 Number of contracts   Pre-modification Amortized Cost   Post-modification Amortized Cost   Number of contracts   Pre-modification Amortized Cost   Post-modification Amortized Cost   Number of contracts   Pre-modification Amortized Cost   Post-modification Amortized Cost (Dollars in thousands)                                               TDRs:                                               Conventional residential mortgage loans 29   $ 3,178   $ 3,191   -   $ -   $ -   29   $ 3,178   $ 3,191 Construction loans 1     12     12   -     -     -   1     12     12 Commercial mortgage loans 3     22,510     20,334   -     -     -   3     22,510     20,334 Commercial and industrial loans 4     107     106   -     -     -   4     107     106 Consumer loans:                                               Auto loans 59     914     914   3     33     33   62     947     947 Finance leases 7     159     159   -     -     -   7     159     159 Personal loans 20     204     204   -     -     -   20     204     204 Credit Cards 29     168     168   -     -     -   29     168     168 Other consumer loans 99     320     338   -     -     -   99     320     338 Total Troubled Debt Restructurings 251   $ 27,572   $ 25,426   3   $ 33   $ 33   254   $ 27,605   $ 25,459 Loan modifications considered TDR loans that defaulted during the quarters ended March 31, 2020 and March 31, 2019, and had become TDR during the 12 months preceding the default date, were as follows:                       Quarter ended March 31,   2020   2019 Puerto Rico and Virgin Islands region Number of contracts   Amortized Cost   Number of contracts   Amortized Cost (Dollars in thousands)                   Conventional residential mortgage loans 6   $ 1,889   -   $ - Construction loans -     -   -     - Commercial mortgage loans -     -   -     - Commercial and industrial loans 1     35   -     - Consumer loans:                   Auto loans 10     176   20     251 Finance leases 1     5   -     - Personal loans 1     7   -     - Credit cards 5     14   -     - Other consumer loans 29     108   18     47 Total Puerto Rico and Virgin Islands region 53   $ 2,234   38   $ 298                                           Quarter ended March 31,   2020   2019 Florida region Number of contracts   Amortized Cost   Number of contracts   Amortized Cost (Dollars in thousands)                   Conventional residential mortgage loans -   $ -   -   $ - Construction loans -     -   -     - Commercial mortgage loans -     -   -     - Commercial and industrial loans -     -   -     - Consumer loans:                   Auto loans -     -   -     - Finance leases -     -   -     - Personal loans -     -   -     - Credit cards -     -   -     - Other consumer loans -     -   -     - Total in Florida region -   $ -   -   $ -                                           Quarter ended March 31,   2020   2019 Total Number of contracts   Amortized Cost   Number of contracts   Amortized Cost (Dollars in thousands)                   Conventional residential mortgage loans 6   $ 1,889   -   $ - Construction loans -     -   -     - Commercial mortgage loans -     -   -     - Commercial and industrial loans 1     35   -     - Consumer loans:                   Auto loans 10     176   20     251 Finance leases 1     5   -     - Personal loans 1     7   -     - Credit cards 5     14   -     - Other consumer loans 29     108   18     47 Total 53   $ 2,234   38   $ 298
Entity Loan Modification Program [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Ab Note Restructure Workout Strategy [Member]
Accounts Notes And Loans Receivable [Line Items]
Troubled Debt Restructurings On Financing Receivables Table [Text Block]	The following table provides additional information about the volume of this type of loan restructuring as of March 31, 2020 and March 31, 2019, and the effect on the allowance for credit losses in the first quarter of 2020 and 2019:     Quarter ended   Quarter ended   March 31, 2020   March 31, 2019 (In thousands) Commercial Mortgage loans   Commercial and Industrial loans   Construction loans   Total   Commercial Mortgage loans   Commercial and Industrial loans   Construction loans   Total Beginning balance of A/B Notes $ 22,749   $ 26,596   $ 1,883   $ 51,228   $ 3,003   $ 28,406   $ 2,431   $ 33,840 New TDR loan splits   -     -     -     -     20,059     -     -     20,059 Paid-off and partial payments   (97)     (200)     (25)     (322)     (30)     (230)     (71)     (331) Ending balance of A/B Notes $ 22,652   $ 26,396   $ 1,858   $ 50,906   $ 23,032   $ 28,176   $ 2,360   $ 53,568                                                                                                                                                           Quarter ended   Quarter ended     March 31, 2020   March 31, 2019 (In thousands) Commercial Mortgage loans   Commercial and Industrial loans   Construction loans   Total   Commercial Mortgage loans   Commercial and Industrial loans   Construction loans   Total Allowance for credit losses at the                                               beginning of the period for A/B Notes $ 3,516   $ 14   $ -   $ 3,530   $ -   $ 473   $ -   $ 473 Impact of adopting ASC 326   (415)     89     -     (326)     -     -     -     - Charges (releases) to the provision                                               for credit losses   15     (102)     -     (87)     611     (124)     -     487 Allowance for credit losses at the                                               end of the period for A/B Notes $ 3,116   $ 1   $ -   $ 3,117   $ 611   $ 349   $ -   $ 960

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- Definition Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919230-210447 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953659-111524 + Details Name: us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

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- Definition Tabular disclosure of aging analysis for financing receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919253-210447 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 7A -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953401-111524 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 80 -URI http://asc.fasb.org/extlink&oid=118955255&loc=SL82922355-210448 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=118936363&loc=d3e5111-111524 + Details Name: us-gaap_PastDueFinancingReceivablesTableTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details Name: us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

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- Definition Tabular disclosure of financing receivable on nonaccrual status. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=118936363&loc=d3e5111-111524 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919258-210447 + Details Name: us-gaap_ScheduleOfFinancingReceivablesNonAccrualStatusTableTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

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- Definition Tabular disclosure of financing receivable modified as troubled debt restructuring. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953676-111524 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953682-111524 + Details Name: us-gaap_TroubledDebtRestructuringsOnFinancingReceivablesTableTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

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v3.20.1

FAIR VALUE - Reconciliation of Fair Value of Assets and Liabilities Measured on Recurring Basis Level 3 (Detail) - Fair Value Inputs Level 3 [Member] - Available for Sale Securities [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning balance	$ 14,590	$ 17,238
Total gains or (losses) (realized/unrealized):
Included in other comprehensive income	240	(23)
Included in earnings	(368)	0
Principal repayments and amortization	(693)	(509)
Ending balance	$ 13,769	$ 16,706

X

- Definition Principal repayments during the period in relation to assets measured at fair value and categorized within Level 3 of the fair value hierarchy. + References No definition available. + Details Name: fbp_Principalrepayments Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

X

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X

- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details Name: us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

X

- Definition Amount of gain (loss) recognized in income from asset measured at fair value on recurring basis using unobservable input (level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details Name: us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1 Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

X

- Definition Amount of gain (loss) recognized in other comprehensive income (OCI) from asset measured at fair value on recurring basis using unobservable input (level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details Name: us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

X

- Definition Fair value of financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details Name: us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Details Name: us-gaap_FairValueByAssetClassAxis=us-gaap_AvailableforsaleSecuritiesMember Namespace Prefix: Data Type: na Balance Type: Period Type:

v3.20.1

FAIR VALUE - Fair Value (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Assets:
Investment securities available for sale	$ 1,932,178	$ 2,123,525
Allowance for Credit Losse, Held-to-maturity securities	(9,268)	0
Total investment securities held to maturity, at amortized cost, net of allowance	129,266	138,675
Total gross loans held for investment portfolio	9,000
Less: allowance for loan and lease losses	(292,774)	(155,139)	$ (183,732)	$ (196,362)
Loans held for investment, net	8,746,173	8,847,066
Liabilities:
Other borrowings	184,150	184,150
Federal Reserve Bank Advances [Member]
Liabilities:
Loans payable	60,000	0
Carrying Reported Amount Fair Value Disclosure [Member]
Assets:
Cash and due from banks and money market investments	1,087,715	644,099
Investment securities available for sale	1,932,178	2,123,525
Held to maturity securities, at amortized cost, before allowance for credit losses	138,534
Allowance for Credit Losse, Held-to-maturity securities	(9,268)
Total investment securities held to maturity, at amortized cost, net of allowance	129,266	138,675
Equity Securities	39,630	38,249
Loans held for sale	12,046	39,477
Total gross loans held for investment portfolio	9,038,947	9,002,205
Less: allowance for loan and lease losses	(292,774)	(155,139)
Loans held for investment, net	8,746,173	8,847,066
Asset Derivative	332	372
Liabilities:
Deposits	9,562,313	9,348,429
Securities sold under agreements to repurchase	300,000	100,000
Advances from FHLB	565,000	570,000
Other borrowings	184,150	184,150
Liability Derivatives	812	149
Carrying Reported Amount Fair Value Disclosure [Member] | Federal Reserve Bank Advances [Member]
Liabilities:
Loans payable	60,000
Estimate Of Fair Value Fair Value Disclosure [Member]
Assets:
Cash and due from banks and money market investments	1,087,715	644,099
Investment securities available for sale	1,932,178	2,123,525
Total investment securities held to maturity, at amortized cost, net of allowance	111,162	110,374
Equity Securities	39,630	38,249
Loans held for sale	12,445	40,234
Loans held for investment, net	8,711,957	8,715,144
Asset Derivative	332	372
Liabilities:
Deposits	9,602,663	9,372,591
Securities sold under agreements to repurchase	331,551	120,020
Advances from FHLB	576,096	578,498
Other borrowings	156,193	180,577
Liability Derivatives	812	149
Estimate Of Fair Value Fair Value Disclosure [Member] | Federal Reserve Bank Advances [Member]
Liabilities:
Loans payable	60,000
Estimate Of Fair Value Fair Value Disclosure [Member] | Fair Value Inputs Level 1 [Member]
Assets:
Cash and due from banks and money market investments	1,087,715	644,099
Investment securities available for sale	7,582	7,479
Total investment securities held to maturity, at amortized cost, net of allowance	0	0
Equity Securities	1,458	1,428
Loans held for sale	0	0
Loans held for investment, net	0	0
Asset Derivative	0	0
Liabilities:
Deposits	0	0
Securities sold under agreements to repurchase	0	0
Advances from FHLB	0	0
Other borrowings	0	0
Liability Derivatives	0	0
Estimate Of Fair Value Fair Value Disclosure [Member] | Fair Value Inputs Level 1 [Member] | Federal Reserve Bank Advances [Member]
Liabilities:
Loans payable	0
Estimate Of Fair Value Fair Value Disclosure [Member] | Fair Value Inputs Level 2 [Member]
Assets:
Cash and due from banks and money market investments	0	0
Investment securities available for sale	1,910,827	2,101,456
Total investment securities held to maturity, at amortized cost, net of allowance	0	0
Equity Securities	38,172	36,821
Loans held for sale	12,445	40,234
Loans held for investment, net	0	0
Asset Derivative	332	372
Liabilities:
Deposits	9,602,663	9,372,591
Securities sold under agreements to repurchase	331,551	120,020
Advances from FHLB	576,096	578,498
Other borrowings	0	0
Liability Derivatives	812	149
Estimate Of Fair Value Fair Value Disclosure [Member] | Fair Value Inputs Level 2 [Member] | Federal Reserve Bank Advances [Member]
Liabilities:
Loans payable	60,000
Estimate Of Fair Value Fair Value Disclosure [Member] | Fair Value Inputs Level 3 [Member]
Assets:
Cash and due from banks and money market investments	0	0
Investment securities available for sale	13,769	14,590
Total investment securities held to maturity, at amortized cost, net of allowance	111,162	110,374
Equity Securities	0	0
Loans held for sale	0	0
Loans held for investment, net	8,711,957	8,715,144
Asset Derivative	0	0
Liabilities:
Deposits	0	0
Securities sold under agreements to repurchase	0	0
Advances from FHLB	0	0
Other borrowings	156,193	180,577
Liability Derivatives	0	$ 0
Estimate Of Fair Value Fair Value Disclosure [Member] | Fair Value Inputs Level 3 [Member] | Federal Reserve Bank Advances [Member]
Liabilities:
Loans payable	$ 0

X

- Definition Held to maturity securities, at amortized cost, net of allowance for credit losses. + References No definition available. + Details Name: fbp_HeldToMaturitySecuritiesNetOfAllowanceForCreditLosses Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118942338&loc=SL82898722-210454 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 45 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118954083&loc=d3e26610-111562 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (aa) -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27161-111563 + Details Name: us-gaap_AvailableForSaleSecuritiesDebtSecurities Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Fair value portion of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. + References No definition available. + Details Name: us-gaap_CashAndCashEquivalentsFairValueDisclosure Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of allowance for credit loss for debt security measured at amortized cost (held-to-maturity). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -Subparagraph (aaa) -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27232-111563 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118955202&loc=SL82895884-210446 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 + Details Name: us-gaap_DebtSecuritiesHeldToMaturityAllowanceForCreditLoss Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Fair value portion of deposit liabilities held by the entity, including, but not limited to, foreign and domestic, interest and noninterest bearing, demand deposits, saving deposits, negotiable orders of withdrawal (NOW) and time deposits. + References No definition available. + Details Name: us-gaap_DepositsFairValueDisclosure Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 55 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=99393222&loc=SL20226008-175313 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13433-108611 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 + Details Name: us-gaap_DerivativeAssets Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13433-108611 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 55 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=99393222&loc=SL20226008-175313 + Details Name: us-gaap_DerivativeLiabilities Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Amount of investment in equity security measured at fair value with change in fair value recognized in net income (FV-NI). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=99377092&loc=SL75136599-209740 + Details Name: us-gaap_EquitySecuritiesFvNi Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Fair value portion of borrowing from Federal Home Loan Bank (FHLBank). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.13(3)(a)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details Name: us-gaap_FederalHomeLoanBankBorrowingsFairValueDisclosure Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- References No definition available. + Details Name: us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

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- References No definition available. + Details Name: us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

X

- Definition Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953423-111524 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118955202&loc=SL82895884-210446 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(7)(d)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 + Details Name: us-gaap_FinancingReceivableAllowanceForCreditLosses Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Amount of investment in debt security measured at amortized cost (held-to-maturity). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 45 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118954083&loc=d3e26610-111562 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27232-111563 + Details Name: us-gaap_HeldToMaturitySecurities Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Including the current and noncurrent portions, the carrying value of junior subordinated long-term debt owed to unconsolidated subsidiary trusts as of the balance sheet date. Such debt places a lender in a lien position behind debt having a higher priority of repayment in liquidation of the entity's assets and was initially scheduled to be repaid after one year or beyond the normal operating cycle if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.16) -URI http://asc.fasb.org/extlink&oid=119400593&loc=d3e572229-122910 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.16) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details Name: us-gaap_JuniorSubordinatedDebentureOwedToUnconsolidatedSubsidiaryTrust Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition Amount before allowance of loans and leases held in portfolio, including but not limited to, commercial and consumer loans. Includes deferred interest and fees, undisbursed portion of loan balance, unamortized costs and premiums and discounts from face amounts. Excludes loans and leases covered under loss sharing agreements. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=118952595&loc=d3e4428-111522 + Details Name: us-gaap_LoansAndLeasesReceivableGrossCarryingAmount Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Amount after allowance and deduction of deferred interest and fees, unamortized costs and premiums and discounts from face amounts, of loans and leases held in portfolio, including but not limited to, commercial and consumer loans. Excludes loans and leases covered under loss sharing agreements and loans held for sale. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=118952595&loc=d3e4428-111522 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.7) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details Name: us-gaap_LoansAndLeasesReceivableNetReportedAmount Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Fair value portion of loans held-for-sale including, but not limited to, mortgage loans and finance receivables. + References No definition available. + Details Name: us-gaap_LoansHeldForSaleFairValueDisclosure Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Fair value portion of securities that an entity sells and agrees to repurchase at a specified date for a specified price. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13433-108611 + Details Name: us-gaap_SecuritiesLoanedOrSoldUnderAgreementsToRepurchaseFairValueDisclosure Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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v3.20.1

LOANS HELD FOR INVESTMENT - Corporation's Residential Mortgage Loans by Origination Year Based on Original Loan-To-Value-Ratio (Detail) - Loans held for investmet [Member] - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	$ 9,038,947	$ 9,002,205
Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	7,103,906	7,128,277
Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	1,935,041	1,873,928
Residential Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	19,240
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	124,206
Financing Receivable, Originated Two Years before Latest Fiscal Year	184,340
Financing Receivable, Originated Three Years before Latest Fiscal Year	176,155
Financing Receivable, Originated Four Years before Latest Fiscal Year	201,787
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	2,169,944
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	2,875,672	2,933,773
Residential Portfolio Segment [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	10,469
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	65,930
Financing Receivable, Originated Two Years before Latest Fiscal Year	111,130
Financing Receivable, Originated Three Years before Latest Fiscal Year	72,884
Financing Receivable, Originated Four Years before Latest Fiscal Year	110,021
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	1,947,738
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	2,318,172	2,367,587
Residential Portfolio Segment [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	8,771
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	58,276
Financing Receivable, Originated Two Years before Latest Fiscal Year	73,210
Financing Receivable, Originated Three Years before Latest Fiscal Year	103,271
Financing Receivable, Originated Four Years before Latest Fiscal Year	91,766
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	222,206
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	557,500	566,186
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	356
Financing Receivable, Originated Two Years before Latest Fiscal Year	2,130
Financing Receivable, Originated Three Years before Latest Fiscal Year	3,060
Financing Receivable, Originated Four Years before Latest Fiscal Year	5,739
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	107,230
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	118,515	123,909
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	356
Financing Receivable, Originated Two Years before Latest Fiscal Year	2,130
Financing Receivable, Originated Three Years before Latest Fiscal Year	2,770
Financing Receivable, Originated Four Years before Latest Fiscal Year	5,739
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	106,332
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	117,327	122,429
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	290
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	898
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	1,188	1,480
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	2,757,157	2,809,864
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	2,200,845	2,245,158
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	556,312	564,706
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Less than or equal to 90 percent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	18,897
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	119,310
Financing Receivable, Originated Two Years before Latest Fiscal Year	168,342
Financing Receivable, Originated Three Years before Latest Fiscal Year	162,209
Financing Receivable, Originated Four Years before Latest Fiscal Year	174,753
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	1,551,367
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	2,194,878	2,234,190
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Less than or equal to 90 percent [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	10,306
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	63,081
Financing Receivable, Originated Two Years before Latest Fiscal Year	98,430
Financing Receivable, Originated Three Years before Latest Fiscal Year	64,562
Financing Receivable, Originated Four Years before Latest Fiscal Year	85,527
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	1,331,475
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	1,653,381	1,684,340
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Less than or equal to 90 percent [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	8,591
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	56,229
Financing Receivable, Originated Two Years before Latest Fiscal Year	69,912
Financing Receivable, Originated Three Years before Latest Fiscal Year	97,647
Financing Receivable, Originated Four Years before Latest Fiscal Year	89,226
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	219,892
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	541,497	549,850
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Greater than 90 percent but less than or equal to 100 percent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	343
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	3,614
Financing Receivable, Originated Two Years before Latest Fiscal Year	8,371
Financing Receivable, Originated Three Years before Latest Fiscal Year	7,748
Financing Receivable, Originated Four Years before Latest Fiscal Year	13,972
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	430,803
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	464,851	475,675
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Greater than 90 percent but less than or equal to 100 percent [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	163
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	1,567
Financing Receivable, Originated Two Years before Latest Fiscal Year	5,073
Financing Receivable, Originated Three Years before Latest Fiscal Year	2,414
Financing Receivable, Originated Four Years before Latest Fiscal Year	11,432
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	429,446
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	450,095	460,879
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Greater than 90 percent but less than or equal to 100 percent [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	180
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	2,047
Financing Receivable, Originated Two Years before Latest Fiscal Year	3,298
Financing Receivable, Originated Three Years before Latest Fiscal Year	5,334
Financing Receivable, Originated Four Years before Latest Fiscal Year	2,540
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	1,357
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	14,756	14,796
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Greater than 100 percent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	926
Financing Receivable, Originated Two Years before Latest Fiscal Year	5,497
Financing Receivable, Originated Three Years before Latest Fiscal Year	3,138
Financing Receivable, Originated Four Years before Latest Fiscal Year	7,323
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	80,544
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	97,428	99,999
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Greater than 100 percent [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	926
Financing Receivable, Originated Two Years before Latest Fiscal Year	5,497
Financing Receivable, Originated Three Years before Latest Fiscal Year	3,138
Financing Receivable, Originated Four Years before Latest Fiscal Year	7,323
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	80,485
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	97,369	99,939
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Greater than 100 percent [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	59
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	$ 59	$ 60

X

- Definition Amount of financing receivable originated five or more years prior to latest fiscal year. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 79 -URI http://asc.fasb.org/extlink&oid=118955255&loc=SL82922352-210448 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919232-210447 + Details Name: us-gaap_FinancingReceivableOriginatedFiveOrMoreYearsBeforeLatestFiscalYear Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of financing receivable originated four years prior to latest fiscal year. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 79 -URI http://asc.fasb.org/extlink&oid=118955255&loc=SL82922352-210448 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919232-210447 + Details Name: us-gaap_FinancingReceivableOriginatedFourYearsBeforeLatestFiscalYear Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of financing receivable originated in current fiscal year. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 79 -URI http://asc.fasb.org/extlink&oid=118955255&loc=SL82922352-210448 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919232-210447 + Details Name: us-gaap_FinancingReceivableOriginatedInCurrentFiscalYear Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of financing receivable originated in fiscal year prior to latest fiscal year. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919232-210447 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 79 -URI http://asc.fasb.org/extlink&oid=118955255&loc=SL82922352-210448 + Details Name: us-gaap_FinancingReceivableOriginatedInFiscalYearBeforeLatestFiscalYear Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of financing receivable originated three years prior to latest fiscal year. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 79 -URI http://asc.fasb.org/extlink&oid=118955255&loc=SL82922352-210448 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919232-210447 + Details Name: us-gaap_FinancingReceivableOriginatedThreeYearsBeforeLatestFiscalYear Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of financing receivable originated two years prior to latest fiscal year. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 79 -URI http://asc.fasb.org/extlink&oid=118955255&loc=SL82922352-210448 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919232-210447 + Details Name: us-gaap_FinancingReceivableOriginatedTwoYearsBeforeLatestFiscalYear Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details Name: us-gaap_FinancingReceivableRecordedInvestmentLineItems Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

X

- Definition Amount of financing receivable that can be withdrawn, repaid and redrawn. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919232-210447 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 79 -URI http://asc.fasb.org/extlink&oid=118955255&loc=SL82922352-210448 + Details Name: us-gaap_FinancingReceivableRevolving Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount, before allowance for credit loss, of financing receivable. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 5 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919230-210447 + Details Name: us-gaap_NotesReceivableGross Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Details Name: us-gaap_FairValueByAssetClassAxis=fbp_HeldToInvestmentLoansMember Namespace Prefix: Data Type: na Balance Type: Period Type:

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- Details Name: srt_StatementGeographicalAxis=fbp_PrandviMember Namespace Prefix: Data Type: na Balance Type: Period Type:

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- Details Name: srt_StatementGeographicalAxis=country_US Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_FinancingReceivablePortfolioSegmentAxis=us-gaap_ResidentialPortfolioSegmentMember Namespace Prefix: Data Type: na Balance Type: Period Type:

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- Details Name: us-gaap_LoansInsuredOrGuaranteedByGovernmentAuthoritiesAxis=us-gaap_LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember Namespace Prefix: Data Type: na Balance Type: Period Type:

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- Details Name: srt_MortgageLoansOnRealEstateLoanTypeAxis=us-gaap_ConventionalLoanMember Namespace Prefix: Data Type: na Balance Type: Period Type:

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- Details Name: us-gaap_LoanToValueAxis=fbp_LtvLessThanOrEqual90PercentMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_LoanToValueAxis=fbp_Ltv91To100PercentMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_LoanToValueAxis=fbp_LtvGreaterThan100PercentMember Namespace Prefix: Data Type: na Balance Type: Period Type:

v3.20.1

SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Information about the Reportable Segments [Table Text Block]	The following table presents information about the reportable segments for the quarters ended March 31, 2020 and 2019:                                           (In thousands) Mortgage Banking   Consumer (Retail) Banking   Commercial and Corporate Banking   Treasury and Investments   United States Operations   Virgin Islands Operations   Total For the quarter ended March 31, 2020:                                         Interest income $ 28,800   $ 58,096   $ 32,636   $ 16,066   $ 22,155   $ 7,511   $ 165,264 Net (charge) credit for transfer of funds   (11,742)     10,030     (9,055)     11,491     (724)     -     - Interest expense   -     (10,382)     -     (7,682)     (7,646)     (905)     (26,615) Net interest income   17,058     57,744     23,581     19,875     13,785     6,606     138,649 Provision for credit losses   (15,201)     (32,153)     (19,175)     (1,502)     (6,564)     (2,771)     (77,366) Non-interest income   3,640     13,728     2,011     8,328     831     1,662     30,200 Direct non-interest expenses   (8,499)     (29,476)     (7,047)     (763)     (8,991)     (7,435)     (62,211) Segment (loss) income $ (3,002)   $ 9,843   $ (630)   $ 25,938   $ (939)   $ (1,938)   $ 29,272                                           Average earning assets $ 2,012,906   $ 2,131,502   $ 2,420,069   $ 2,877,104   $ 1,944,385   $ 455,129   $ 11,841,095                                                                         (In thousands) Mortgage Banking   Consumer (Retail) Banking   Commercial and Corporate Banking   Treasury and Investments   United States Operations   Virgin Islands Operations   Total For the quarter ended March 31, 2019:                                         Interest income $ 30,857   $ 49,975   $ 37,387   $ 16,249   $ 24,157   $ 7,847   $ 166,472 Net (charge) credit for transfer of funds   (13,108)     19,662     (16,454)     11,250     (1,350)     -     - Interest expense   -     (8,103)     -     (10,704)     (6,598)     (886)     (26,291) Net interest income   17,749     61,534     20,933     16,795     16,209     6,961     140,181 (Provision) release for credit losses   (6,412)     (9,412)     8,462     -     (4,364)     318     (11,408) Non-interest income   3,606     14,007     2,518     74     533     1,805     22,543 Direct non-interest expenses   (8,481)     (29,404)     (9,401)     (723)     (8,362)     (7,740)     (64,111) Segment income $ 6,462   $ 36,725   $ 22,512   $ 16,146   $ 4,016   $ 1,344   $ 87,205                                           Average earning assets $ 2,188,093   $ 1,824,240   $ 2,499,709   $ 2,392,467   $ 1,902,771   $ 472,912   $ 11,280,192
Reconciliation of the Reportable Segment Financial Information [Table Text Block]	The following table presents a reconciliation of the reportable segment financial information to the consolidated totals for the indicated periods:     Quarter Ended               March 31,               2020   2019                                   Net income:                                             Total income for segments and other $ 29,272   $ 87,205           Other operating expenses (1)   (29,973)     (26,273)           (Loss) income before income taxes   (701)     60,932           Income tax (benefit) expense   (2,967)     17,618           Total consolidated net income $ 2,266   $ 43,314                                   Average assets:                                             Total average earning assets for segments $ 11,841,095   $ 11,280,192           Average non-earning assets   912,334     1,003,706           Total consolidated average assets $ 12,753,429   $ 12,283,898

X

- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 + Details Name: us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8721-108599 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 + Details Name: us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

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v3.20.1

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Transition Adjustment Impact of ASC 326 (Detail) - USD ($) $ in Thousands			3 Months Ended
	Jan. 01, 2020	Dec. 31, 2019	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt Securities, Held-to-maturity, Allowance for Credit Loss		$ 0	$ 9,268
Financing Receivable, Allowance for Credit Loss		155,139	292,774	$ 183,732	$ 196,362
Off-Balance Sheet, Credit Loss, Liability		0	5,741	0	412
Pre-tax effect in beginning retained eaarnings		155,139
ASC 326
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt Securities, Held-to-maturity, Allowance for Credit Loss	$ 8,134
Financing Receivable, Allowance for Credit Loss	236,304
Off-Balance Sheet, Credit Loss, Liability	3,922
Pre-tax effect in beginning retained eaarnings	248,360
ASC 326 | Cumulative Effect Period Of Adoption Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt Securities, Held-to-maturity, Allowance for Credit Loss	8,134
Financing Receivable, Allowance for Credit Loss	81,165
Off-Balance Sheet, Credit Loss, Liability	3,922
Pre-tax effect in beginning retained eaarnings	93,221
Tax effect	31,333
After-tax effect in beginning retained earnings	62,322
PCD loans [Member] | ASC 326 | Cumulative Effect Period Of Adoption Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Balance sheet reclassification			434
Residential Portfolio Segment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Financing Receivable, Allowance for Credit Loss		44,806	107,082	51,886	50,794
Residential Portfolio Segment [Member] | ASC 326
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Financing Receivable, Allowance for Credit Loss	94,643
Residential Portfolio Segment [Member] | ASC 326 | Cumulative Effect Period Of Adoption Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Financing Receivable, Allowance for Credit Loss	49,837
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Financing Receivable, Allowance for Credit Loss		15,198	38,310	22,321	32,546
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ASC 326
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Financing Receivable, Allowance for Credit Loss	29,929
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ASC 326 | Cumulative Effect Period Of Adoption Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Financing Receivable, Allowance for Credit Loss	14,731
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Financing Receivable, Allowance for Credit Loss		39,194	33,971	53,430	55,581
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ASC 326
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Financing Receivable, Allowance for Credit Loss	19,888
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ASC 326 | Cumulative Effect Period Of Adoption Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Financing Receivable, Allowance for Credit Loss	(19,306)
Commercial Portfolio Segment [Member] | Construction Loans [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Financing Receivable, Allowance for Credit Loss		2,370	5,253	3,331	3,592
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ASC 326
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Financing Receivable, Allowance for Credit Loss	3,167
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ASC 326 | Cumulative Effect Period Of Adoption Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Financing Receivable, Allowance for Credit Loss	797
Consumer Portfolio Segment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Financing Receivable, Allowance for Credit Loss		$ 53,571	$ 108,158	$ 52,764	$ 53,849
Consumer Portfolio Segment [Member] | ASC 326
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Financing Receivable, Allowance for Credit Loss	88,677
Consumer Portfolio Segment [Member] | ASC 326 | Cumulative Effect Period Of Adoption Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Financing Receivable, Allowance for Credit Loss	$ 35,106

X

- Definition Amount of the cumulative effect on retained earnings before related income tax effect. + References No definition available. + Details Name: fbp_CumulativeEffectOnRetainedEarningsBeforeTax Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition Amount of the cumulative effect on retained earnings net of related income tax effect. + References No definition available. + Details Name: fbp_CumulativeEffectOnRetainedEarningsNetOfTax Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

X

- References No definition available. + Details Name: fbp_CumulativeEffectOnRetainedEarningsTax Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

X

- Definition Amount of allowance for credit loss for debt security measured at amortized cost (held-to-maturity). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -Subparagraph (aaa) -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27232-111563 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118955202&loc=SL82895884-210446 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 + Details Name: us-gaap_DebtSecuritiesHeldToMaturityAllowanceForCreditLoss Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953423-111524 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118955202&loc=SL82895884-210446 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(7)(d)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 + Details Name: us-gaap_FinancingReceivableAllowanceForCreditLosses Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition The effect of a change in method or methods for calculating the allowance for credit losses on the current period provision. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953423-111524 + Details Name: us-gaap_FinancingReceivableAllowanceForCreditLossesEffectOfChangeInMethod Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details Name: us-gaap_NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

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- Definition Amount of expected credit loss for credit exposure on off-balance-sheet commitment, including but not limited to, loan commitment, standby letter of credit, financial guarantee not accounted for as insurance. Excludes off-balance sheet credit exposure accounted for as insurance and instrument accounted for under derivatives and hedging. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118956080&loc=d3e11927-110247 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=118955202&loc=SL82919202-210446 + Details Name: us-gaap_OffBalanceSheetCreditLossLiability Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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v3.20.1

LOANS HELD FOR INVESTMENT - Additional Information (Detail) $ in Thousands		3 Months Ended
	May 07, 2020 USD ($) numberofcontracts	Mar. 31, 2020 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross		$ 9,000
Minimum Period To Be Considered For Loan To Have Defaulted		90 days
TDR [Member]
Loans and Leases Receivable Disclosure [Line Items]
Financing Receivable, Troubled Debt Restructuring		$ 497,295	$ 589,795	$ 487,997	$ 582,647
Outstanding unfunded commitments on TDR loans		$ 3,000
Puerto Rico [Member]
Loans and Leases Receivable Disclosure [Line Items]
Credit risk concentration		74.00%
United States [Member]
Loans and Leases Receivable Disclosure [Line Items]
Credit risk concentration		21.00%
USVI and BVI [Member]
Loans and Leases Receivable Disclosure [Line Items]
Credit risk concentration		5.00%
Performing Financing Receivable [Member] | Ab Note Restructure Workout Strategy [Member]
Loans and Leases Receivable Disclosure [Line Items]
Financing Receivable, Troubled Debt Restructuring		$ 39,400
Collateral Pledged [Member] | Weighted Average [Member]
Loans and Leases Receivable Disclosure [Line Items]
LTV Coverage %		86.00%
Residential Portfolio Segment [Member]
Loans and Leases Receivable Disclosure [Line Items]
Residential mortgage loans in process of foreclosure		$ 159,300
Loans Foreclosure Delinquency Threshold		120 days
Financing Receivable, Real Estate Acquired Through Foreclosure [Policy Text Block]		The Corporation commences the foreclosure process on residential real estate loans when a borrower becomes 120 days delinquent in accordance with the requirements of the Consumer Financial Protection Bureau (“CFPB”). Foreclosure procedures and timelines vary depending on whether the property is located in a judicial or non-judicial state. Judicial states (i.e., Puerto Rico, Florida and the USVI) require the foreclosure to be processed through the state’s court while foreclosure in non-judicial states (i.e., the BVI) is processed without court intervention. Foreclosure timelines vary according to local jurisdiction law and investor guidelines. Occasionally, foreclosures may be delayed due to, among other reasons, mandatory mediations, bankruptcy, court delays and title issues.
Financing Receivable, Purchase		$ 800	4,300
Residential Portfolio Segment [Member] | TDR [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans in trial		2,200
Residential Portfolio Segment [Member] | Payment Deferral [Member] | COVID-19
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	$ 931,500
Financing Receivable Deferral Payment Number Of Agreements | numberofcontracts	7,064
Residential Portfolio Segment [Member] | Government [Member] | PRHFA [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross		103,600		106,900
Residential Portfolio Segment [Member] | PCD loans [Member]
Loans and Leases Receivable Disclosure [Line Items]
Residential mortgage loans in process of foreclosure		19,500
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | TDR [Member]
Loans and Leases Receivable Disclosure [Line Items]
Financing Receivable, Troubled Debt Restructuring		311,363		316,649
Residential Portfolio Segment [Member] | Loans Insured or Guaranteed by US Government Authorities [Member]
Loans and Leases Receivable Disclosure [Line Items]
Residential mortgage loans in process of foreclosure		38,100
Financing Receivable, Sale		60,900	51,000
Residential Portfolio Segment [Member] | Loans Insured or Guaranteed by US Government Authorities [Member] | TDR [Member]
Loans and Leases Receivable Disclosure [Line Items]
Financing Receivable, Troubled Debt Restructuring		55,800		60,100
Residential Portfolio Segment [Member] | FNMA and FHLC loans [Member]
Loans and Leases Receivable Disclosure [Line Items]
Financing Receivable, Purchase		41	63
Residential Portfolio Segment [Member] | FNMA and FHLC loans [Member] | Performing Financing Receivable [Member]
Loans and Leases Receivable Disclosure [Line Items]
Financing Receivable, Sale		32,800	26,300
Residential Portfolio Segment [Member] | GNMA [Member] | Repurchase Option Program [Member]
Loans and Leases Receivable Disclosure [Line Items]
Financing Receivable, Purchase		5,200	4,200
Financing Receivable, Past Due		35,000		35,600
Commercial Portfolio Segment [Member] | Payment Deferral [Member] | COVID-19
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	$ 1,800,000
Financing Receivable Deferral Payment Number Of Agreements | numberofcontracts	741
Commercial Portfolio Segment [Member] | Puerto Rico [Member] | Government [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross		56,600		57,700
Commercial Portfolio Segment [Member] | Puerto Rico [Member] | Government [Member] | Municipalities [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross		43,000
Commercial Portfolio Segment [Member] | Puerto Rico [Member] | Government [Member] | PREPA [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross		13,700
Commercial Portfolio Segment [Member] | USVI [Member] | Government [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross		62,500		64,100
Commercial Portfolio Segment [Member] | USVI [Member] | Government [Member] | Public Corporations Member [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross		39,300
Commercial Portfolio Segment [Member] | USVI [Member] | Government [Member] | Independent Instrumentality [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross		23,200
Commercial Portfolio Segment [Member] | Nonperforming Financing Receivable [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans held for sale sold			$ 4,800
Commercial Portfolio Segment [Member] | Construction Loans [Member] | TDR [Member]
Loans and Leases Receivable Disclosure [Line Items]
Financing Receivable, Troubled Debt Restructuring		4,275		4,321
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | TDR [Member]
Loans and Leases Receivable Disclosure [Line Items]
Financing Receivable, Troubled Debt Restructuring		74,332		74,979
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | TDR [Member]
Loans and Leases Receivable Disclosure [Line Items]
Financing Receivable, Troubled Debt Restructuring		82,719		$ 66,849
Consumer Portfolio Segment [Member] | TDR [Member]
Loans and Leases Receivable Disclosure [Line Items]
Financing Receivable, Troubled Debt Restructuring		$ 24,600
Consumer Portfolio Segment [Member] | Payment Deferral [Member] | COVID-19
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	$ 1,000,000
Financing Receivable Deferral Payment Number Of Agreements | numberofcontracts	93,629

X

- Definition Payment defferal program implemented to aliviate the hardships being experienced by the Corporation's borrowers. + References No definition available. + Details Name: fbp_FinancingReceivableDeferralPaymentNumberOfAgreements Namespace Prefix: fbp_ Data Type: xbrli:integerItemType Balance Type: na Period Type: duration

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- Definition Threshold period for when a residential real estate loan is considered past due to commence the foreclosure process. + References No definition available. + Details Name: fbp_LoansForeclosureDelinquencyThreshold Namespace Prefix: fbp_ Data Type: xbrli:durationItemType Balance Type: na Period Type: duration

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- Definition For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 18 -URI http://asc.fasb.org/extlink&oid=99393423&loc=d3e6351-108592 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13531-108611 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13537-108611 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=99393423&loc=d3e6404-108592 + Details Name: us-gaap_ConcentrationRiskPercentage1 Namespace Prefix: us-gaap_ Data Type: num:percentItemType Balance Type: na Period Type: duration

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- Definition Amount of financing receivable modified as troubled debt restructuring. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953676-111524 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 40 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=118939409&loc=d3e18845-111554 + Details Name: us-gaap_FinancingReceivableModificationsRecordedInvestment Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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v3.20.1

LOANS HELD FOR INVESTMENT - Breakdown Between Accrual and Nonaccrual Status of TDRs (Parenthetical) (Detail) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
TDR [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans forced to nonaccrual status	$ 16.3	$ 14.8

X

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v3.20.1

STOCK-BASED COMPENSATION - Omnibus Plan - Additional Information (Detail) - Omnibus Plan [Member]	Mar. 31, 2020 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized granting up shares	14,169,807
Authorizd shares of common stock available for issuance	5,745,970

X

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v3.20.1

REGULATORY MATTERS, COMMITMENTS AND CONTINGENCIES- Regulatory Capital Positions (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
First BanCorp [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total Capital (to Risk-Weighted Assets)	$ 2,305,042	$ 2,286,337
Total Capital (to Risk-Weighted Assets) Ratio	25.42%	25.22%
Total Capital (to Risk-Weighted Assets) Required For Capital Adequacy	$ 725,557	$ 725,236
Total Capital (to Risk-Weighted Assets) Required For Capital Adequacy Ratio	8.00%	8.00%
Common Equity Tier One Capital	$ 1,976,105	$ 1,957,887
Common Equity Tier One Capital (to Risk-Weighted Assets) Ratio	21.79%	21.60%
Common Equity Tier One Capital Required for Capital Adequacy	$ 408,126	$ 407,946
Common Equity Tier One Capital (to Risk-Weighted Assets) Required for Capiral Adequacy Ratio	4.50%	4.50%
Tier One Capital (to Risk-Weighted Assets)	$ 2,012,209	$ 1,993,991
Tier One Capital (to Risk-Weighted Assets) Ratio	22.19%	22.00%
Tier One Capital (to Risk-Weighted Assets) Required For Capital Adequacy	$ 544,168	$ 543,927
Tier One Capital (to Risk-Weighted Assets) Required For Capital Adequacy Ratio	6.00%	6.00%
Leverage ratio	$ 2,012,209	$ 1,993,991
Leverage Ratio	15.98%	16.15%
Leverage Ratio Required For Capital Adequacy	$ 503,686	$ 493,786
Leverage Ratio Required Fo Capital Adequacy Ratio	4.00%	4.00%
FirstBank [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total Capital (to Risk-Weighted Assets)	$ 2,259,012	$ 2,242,262
Total Capital (to Risk-Weighted Assets) Ratio	24.91%	24.74%
Total Capital (to Risk-Weighted Assets) Required For Capital Adequacy	$ 725,384	$ 725,047
Total Capital (to Risk-Weighted Assets) Required For Capital Adequacy Ratio	8.00%	8.00%
Total Capital (to Risk-Weighted Assets) Required To Be Well Capitalized	$ 906,730	$ 906,309
Total Capital (to Risk-Weighted Assets) Required To Be Well Capitalized Ratio	10.00%	10.00%
Common Equity Tier One Capital	$ 1,836,831	$ 1,820,571
Common Equity Tier One Capital (to Risk-Weighted Assets) Ratio	20.26%	20.09%
Common Equity Tier One Capital Required for Capital Adequacy	$ 408,029	$ 407,839
Common Equity Tier One Capital (to Risk-Weighted Assets) Required for Capiral Adequacy Ratio	4.50%	4.50%
Common Equity Tier One Capital Required to be Well-Capitalized	$ 589,375	$ 589,101
Common Equity Tier One Capital (to Risk-Weighted Assets) Required To Be Well Capitalized Ratio	6.50%	6.50%
Tier One Capital (to Risk-Weighted Assets)	$ 2,144,831	$ 2,128,571
Tier One Capital (to Risk-Weighted Assets) Ratio	23.65%	23.49%
Tier One Capital (to Risk-Weighted Assets) Required For Capital Adequacy	$ 544,038	$ 543,785
Tier One Capital (to Risk-Weighted Assets) Required For Capital Adequacy Ratio	6.00%	6.00%
Tier One Capital (to Risk-Weighted Assets) Required To Be Well Capitalized	$ 725,384	$ 725,047
Tier One Capital (to Risk-Weighted Assets) Required To Be Well Capitalized Ratio	8.00%	8.00%
Leverage ratio	$ 2,144,831	$ 2,128,571
Leverage Ratio	17.05%	17.26%
Leverage Ratio Required For Capital Adequacy	$ 503,138	$ 493,242
Leverage Ratio Required Fo Capital Adequacy Ratio	4.00%	4.00%
Leverage Ratio Required To Be Well Capitalized	$ 628,923	$ 616,552
Leverage Ratio Required To Be Well Capitalized Ratio	5.00%	5.00%

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- Definition Common Equity Tier 1 capital divided by risk weighted assets as defined by new Basel III rule. + References No definition available. + Details Name: fbp_CommonEquityTier1CapitalToRiskWeightAssetsRatio Namespace Prefix: fbp_ Data Type: num:percentItemType Balance Type: na Period Type: instant

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- Definition Amount of Common Equity Tier 1 Risk-based Capital required to be categorized as adequately capitalized under regulatory framework for prompt corrective action. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 + Details Name: us-gaap_CommonEquityTierOneCapitalRequiredForCapitalAdequacy Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition Tier 1 Risk Based Capital as defined in the regulations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1H -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=117337116&loc=d3e65071-112826 + Details Name: us-gaap_TierOneRiskBasedCapital Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition The minimum amount of Tier 1 Risk Based Capital required for capital adequacy purposes under the regulatory framework for prompt corrective action. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1H -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=117337116&loc=d3e65071-112826 + Details Name: us-gaap_TierOneRiskBasedCapitalRequiredForCapitalAdequacy Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition The minimum Tier One Capital Ratio (Tier one capital divided by risk-weighted assets) required for capital adequacy purposes under the regulatory framework for prompt corrective action. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958570-112826 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1H -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=117337116&loc=d3e65071-112826 + Details Name: us-gaap_TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets Namespace Prefix: us-gaap_ Data Type: num:percentItemType Balance Type: na Period Type: instant

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- Definition The amount of Tier 1 Risk Based Capital required to be categorized as well capitalized under the regulatory framework for prompt corrective action. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 + Details Name: us-gaap_TierOneRiskBasedCapitalRequiredToBeWellCapitalized Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition The Tier 1 capital ratio (Tier 1 capital divided by risk weighted assets) required to be categorized as "well capitalized" under the regulatory framework for prompt corrective action. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 + Details Name: us-gaap_TierOneRiskBasedCapitalRequiredToBeWellCapitalizedToRiskWeightedAssets Namespace Prefix: us-gaap_ Data Type: num:percentItemType Balance Type: na Period Type: instant

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- Definition Tier 1 capital divided by risk weighted assets as defined by regulations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1H -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=117337116&loc=d3e65071-112826 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 + Details Name: us-gaap_TierOneRiskBasedCapitalToRiskWeightedAssets Namespace Prefix: us-gaap_ Data Type: num:percentItemType Balance Type: na Period Type: instant

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- Details Name: srt_ConsolidatedEntitiesAxis=srt_ParentCompanyMember Namespace Prefix: Data Type: na Balance Type: Period Type:

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- Details Name: srt_ConsolidatedEntitiesAxis=fbp_FirstbankMember Namespace Prefix: Data Type: na Balance Type: Period Type:

v3.20.1

SEGMENT INFORMATION - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2020 numberofreportableunits
Segment Reporting [Abstract]
Number of reportable segments	6

X

- Definition Number of segments reported by the entity. A reportable segment is a component of an entity for which there is an accounting requirement to report separate financial information on that component in the entity's financial statements. + References No definition available. + Details Name: us-gaap_NumberOfReportableSegments Namespace Prefix: us-gaap_ Data Type: xbrli:integerItemType Balance Type: na Period Type: duration

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- References No definition available. + Details Name: us-gaap_SegmentReportingAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

v3.20.1

DEPOSITS (Tables)	3 Months Ended
	Mar. 31, 2020
Deposits [Abstract]
Summary of Deposit Balances [Table Text Block]	The following table summarizes deposit balances as of the dates indicated:   March 31,     December 31,   2020   2019 (In thousands)           Type of account:           Non-interest-bearing checking accounts $ 2,404,932   $ 2,367,856 Interest-bearing savings accounts   2,584,201     2,437,345 Interest-bearing checking accounts   1,424,261     1,412,390 Certificates of deposit   2,696,967     2,695,749 Brokered certificates of deposit (CDs)   451,952     435,089 Total $ 9,562,313   $ 9,348,429
Brokered Certificates Of Deposit Mature [Table Text Block]	Brokered CDs mature as follows:                 March 31, 2020   (In thousands)               Three months or less   $ 88,696   Over three months to six months     87,276   Over six months to one year     114,110   Over one year to three years     126,651   Over three years to five years     29,268   Over five years     5,951   Total   $ 451,952
Components of Interest Expense on Deposits [Table Text Block]	The following were the components of interest expense on deposits for the indicated periods:               Quarter Ended   March 31,     March 31,   2020     2019 (In thousands)   Interest expense on deposits $ 19,497   $ 17,305 Accretion of premium from acquisition   (1)     (2) Amortization of broker placement fees   158     189 Interest expense on deposits $ 19,654   $ 17,492

X

- Definition Tabular disclosure of the Corporation's brokered certificates of deposit by maturity. + References No definition available. + Details Name: fbp_BrokeredCertificatesOfDepositMaturityTableTextBlock Namespace Prefix: fbp_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

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- Definition Tabular disclosure of type of deposit liability. + References No definition available. + Details Name: us-gaap_DepositLiabilitiesTypeTableTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

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- References No definition available. + Details Name: us-gaap_DepositsAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

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- Definition Tabular disclosure of interest income and expense, including, but not limited to, interest income and expense from investments, loans, and securities. + References No definition available. + Details Name: us-gaap_InterestIncomeAndInterestExpenseDisclosureTableTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

v3.20.1

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	3 Months Ended
	Mar. 31, 2020
Statement of Other Comprehensive Income [Abstract]
Schedule of Accumulated Other Comprehensive Income [Table Text Block]	The following table presents changes in accumulated other comprehensive income (loss) for the quarters ended March 31, 2020 and 2019:               Changes in Accumulated Other Comprehensive Income (Loss) by Component (1)     Quarter ended     March 31,     2020   2019   (In thousands)     Unrealized net holding gains (losses) on debt securities           Beginning balance $ 6,764 $ (40,415)   Other comprehensive income (loss)   42,352   20,510   Ending balance $ 49,116 $ (19,905)   ______________________
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	The following table presents the amounts reclassified out of each component of Accumulated other comprehensive income (loss) for the quarters ended March 31, 2020 and 2019:                       Reclassifications Out of Accumulated Other Comprehensive Income (Loss)   Affected Line Item in the Consolidated Statements of Income   Quarter ended     March 31     2020     2019 (In thousands)       Unrealized net holding gains (losses) on debt securities               Realized gain on sale of debt securities Net gain on sale of               investments   $ (8,247)   $ - Provision for credit losses Provision for credit losses     368     -   Total before tax     (7,879)     -   Income tax     -     -   Total, net of tax   $ (7,879)   $ -

X

- Definition Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss). + References No definition available. + Details Name: us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeTableTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

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- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669686-108580 + Details Name: us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

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- References No definition available. + Details Name: us-gaap_StatementOfOtherComprehensiveIncomeAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

v3.20.1

REVENUE FROM CONTRACT WITH CUSTOMERS (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Net interest income	$ 138,649	$ 140,181
Non-interest income	30,200	22,543
Total Revenue	168,849	162,724
Service charges and fees on deposit accounts [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	5,957	5,716
Insurance commissions [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	4,582	4,250
Total Revenue	3,100	2,700
Merchant-related income [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	899	1,294
Credit and debit card fees [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	4,666	5,403
Other service charges and fees [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	1,668	1,528
Not inscope of Topic 606 [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	12,428	4,352
Mortgage Banking Segment [Member]
Disaggregation of Revenue [Line Items]
Net interest income	17,058	17,749
Non-interest income	3,640	3,606
Total Revenue	20,698	21,355
Mortgage Banking Segment [Member] | Service charges and fees on deposit accounts [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	0	0
Mortgage Banking Segment [Member] | Insurance commissions [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	0	0
Mortgage Banking Segment [Member] | Merchant-related income [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	0	0
Mortgage Banking Segment [Member] | Credit and debit card fees [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	0	0
Mortgage Banking Segment [Member] | Other service charges and fees [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	74	44
Mortgage Banking Segment [Member] | Not inscope of Topic 606 [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	3,566	3,562
Consumer Retail Banking Segment [Member]
Disaggregation of Revenue [Line Items]
Net interest income	57,744	61,534
Non-interest income	13,728	14,007
Total Revenue	71,472	75,541
Consumer Retail Banking Segment [Member] | Service charges and fees on deposit accounts [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	3,483	3,524
Consumer Retail Banking Segment [Member] | Insurance commissions [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	4,376	4,066
Consumer Retail Banking Segment [Member] | Merchant-related income [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	750	834
Consumer Retail Banking Segment [Member] | Credit and debit card fees [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	4,217	4,398
Consumer Retail Banking Segment [Member] | Other service charges and fees [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	617	843
Consumer Retail Banking Segment [Member] | Not inscope of Topic 606 [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	285	342
Commercial And Corporate Segment [Member]
Disaggregation of Revenue [Line Items]
Net interest income	23,581	20,933
Non-interest income	2,011	2,518
Total Revenue	25,592	23,451
Commercial And Corporate Segment [Member] | Service charges and fees on deposit accounts [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	1,564	1,324
Commercial And Corporate Segment [Member] | Insurance commissions [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	0	0
Commercial And Corporate Segment [Member] | Merchant-related income [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	0	196
Commercial And Corporate Segment [Member] | Credit and debit card fees [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	17	320
Commercial And Corporate Segment [Member] | Other service charges and fees [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	412	426
Commercial And Corporate Segment [Member] | Not inscope of Topic 606 [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	18	252
Treasury And Investments Segment [Member]
Disaggregation of Revenue [Line Items]
Net interest income	19,875	16,795
Non-interest income	8,328	74
Total Revenue	28,203	16,869
Treasury And Investments Segment [Member] | Service charges and fees on deposit accounts [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	0	0
Treasury And Investments Segment [Member] | Insurance commissions [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	0	0
Treasury And Investments Segment [Member] | Merchant-related income [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	0	0
Treasury And Investments Segment [Member] | Credit and debit card fees [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	0	0
Treasury And Investments Segment [Member] | Other service charges and fees [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	0	0
Treasury And Investments Segment [Member] | Not inscope of Topic 606 [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	8,328	74
United States Operations Segment [Member]
Disaggregation of Revenue [Line Items]
Net interest income	13,785	16,209
Non-interest income	831	533
Total Revenue	14,616	16,742
United States Operations Segment [Member] | Service charges and fees on deposit accounts [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	168	136
United States Operations Segment [Member] | Insurance commissions [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	4	11
United States Operations Segment [Member] | Merchant-related income [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	0	0
United States Operations Segment [Member] | Credit and debit card fees [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	10	169
United States Operations Segment [Member] | Other service charges and fees [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	418	133
United States Operations Segment [Member] | Not inscope of Topic 606 [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	231	84
Virgin Islands Operations Segment [Member]
Disaggregation of Revenue [Line Items]
Net interest income	6,606	6,961
Non-interest income	1,662	1,805
Total Revenue	8,268	8,766
Virgin Islands Operations Segment [Member] | Service charges and fees on deposit accounts [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	742	732
Virgin Islands Operations Segment [Member] | Insurance commissions [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	202	173
Virgin Islands Operations Segment [Member] | Merchant-related income [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	149	264
Virgin Islands Operations Segment [Member] | Credit and debit card fees [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	422	516
Virgin Islands Operations Segment [Member] | Other service charges and fees [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	147	82
Virgin Islands Operations Segment [Member] | Not inscope of Topic 606 [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	$ 0	$ 38

X

- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details Name: us-gaap_DisaggregationOfRevenueLineItems Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

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- Definition The net amount of operating interest income (expense). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.10) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 + Details Name: us-gaap_InterestIncomeExpenseNet Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition The total amount of noninterest income which may be derived from: (1) fees and commissions; (2) premiums earned; (3) insurance policy charges; (4) the sale or disposal of assets; and (5) other sources not otherwise specified. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.13) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 + Details Name: us-gaap_NoninterestIncome Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 4 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118956577&loc=SL49130543-203045 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=118956577&loc=SL49130545-203045 + Details Name: us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Details Name: srt_ProductOrServiceAxis=fbp_MerchantRelatedIncomeMember Namespace Prefix: Data Type: na Balance Type: Period Type:

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- Details Name: srt_ProductOrServiceAxis=us-gaap_CreditAndDebitCardMember Namespace Prefix: Data Type: na Balance Type: Period Type:

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- Details Name: srt_ProductOrServiceAxis=us-gaap_ProductAndServiceOtherMember Namespace Prefix: Data Type: na Balance Type: Period Type:

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- Details Name: us-gaap_StatementBusinessSegmentsAxis=us-gaap_MortgageBankingMember Namespace Prefix: Data Type: na Balance Type: Period Type:

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v3.20.1

Consolidated Statements of Financial Condition (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Debt Securities, Available-for-sale, Allowance for Credit Loss	$ 368	$ 0
Held to Maturity Fair value	111,162	110,374
Debt Securities, Held-to-maturity, Allowance for Credit Loss	9,268	0
Allowance for credit losses on loans and finance leases	$ 292,774	$ 155,139
Preferred stock, shares authorized	50,000,000	50,000,000
Non-cumulative Perpetual Monthly Income Preferred Stock: issued	22,004,000	22,004,000
Non-cumulative Perpetual Monthly Income Preferred Stock, shares outstanding	1,444,146	1,444,146
Non-cumulative Perpetual Monthly Income Preferred Stock, aggregate liquidation value	$ 36,104	$ 36,104
Common stock, par value	$ 0.1	$ 0.1
Common stock, shares authorized	2,000,000,000	2,000,000,000
Common stock, shares issued	222,955,394	222,103,721
Common stock, shares outstanding	218,160,725	217,359,337
Legal surplus reserve amount	$ 97,586	$ 97,586
Income Tax Expense	7,752	7,752
Amortized cost debt securities	$ 1,875,677	$ 2,109,008

X

- Definition Amount of tax expense (benefit) allocated to accumulated other comprehensive income (loss) attributable to parent. + References No definition available. + Details Name: us-gaap_AociTaxAttributableToParent Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Amortized cost of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27161-111563 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118942338&loc=SL82898722-210454 + Details Name: us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Face amount or stated value per share of common stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details Name: us-gaap_CommonStockParOrStatedValuePerShare Namespace Prefix: us-gaap_ Data Type: num:perShareItemType Balance Type: na Period Type: instant

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- Definition The maximum number of common shares permitted to be issued by an entity's charter and bylaws. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details Name: us-gaap_CommonStockSharesAuthorized Namespace Prefix: us-gaap_ Data Type: xbrli:sharesItemType Balance Type: na Period Type: instant

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- Definition Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details Name: us-gaap_CommonStockSharesIssued Namespace Prefix: us-gaap_ Data Type: xbrli:sharesItemType Balance Type: na Period Type: instant

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- Definition Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21463-112644 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details Name: us-gaap_CommonStockSharesOutstanding Namespace Prefix: us-gaap_ Data Type: xbrli:sharesItemType Balance Type: na Period Type: instant

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- Definition Amount of allowance for credit loss on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 50 -Paragraph 9 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118955579&loc=SL82922900-210455 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 50 -Paragraph 9 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=118955579&loc=SL82922900-210455 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (aaa) -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27161-111563 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118942338&loc=SL82898722-210454 + Details Name: us-gaap_DebtSecuritiesAvailableForSaleAllowanceForCreditLoss Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Amount of allowance for credit loss for debt security measured at amortized cost (held-to-maturity). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -Subparagraph (aaa) -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27232-111563 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118955202&loc=SL82895884-210446 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 + Details Name: us-gaap_DebtSecuritiesHeldToMaturityAllowanceForCreditLoss Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953423-111524 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118955202&loc=SL82895884-210446 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(7)(d)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 + Details Name: us-gaap_FinancingReceivableAllowanceForCreditLosses Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Fair value of investment in debt security measured at amortized cost (held-to-maturity). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -Subparagraph (aa) -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27232-111563 + Details Name: us-gaap_HeldToMaturitySecuritiesFairValue Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Value of the difference between preference in liquidation and the par or stated values of the preferred shares. + References No definition available. + Details Name: us-gaap_PreferredStockLiquidationPreferenceValue Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details Name: us-gaap_PreferredStockSharesAuthorized Namespace Prefix: us-gaap_ Data Type: xbrli:sharesItemType Balance Type: na Period Type: instant

X

- Definition Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details Name: us-gaap_PreferredStockSharesIssued Namespace Prefix: us-gaap_ Data Type: xbrli:sharesItemType Balance Type: na Period Type: instant

X

- Definition Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details Name: us-gaap_PreferredStockSharesOutstanding Namespace Prefix: us-gaap_ Data Type: xbrli:sharesItemType Balance Type: na Period Type: instant

X

- References No definition available. + Details Name: us-gaap_StatementOfFinancialPositionAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

X

- Definition Amount of dividends that can be declared or paid with approval of regulatory agency. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details Name: us-gaap_StatutoryAccountingPracticesStatutoryAmountAvailableForDividendPaymentsWithRegulatoryApproval Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

v3.20.1

INVESTMENT SECURITIES - Investment Securities Held to Maturity (Securities in continuous unrealized loss position) (Detail) - Puerto Rico [Member] - Municipal Bonds [Member] - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Schedule Of Held To Maturity Securities [Line Items]
HTM Fair Value Less than 12 months	$ 0	$ 0
HTM Unrealized Losses Less than 12 months	0	0
HTM Fair Value 12 months or more	111,162	110,374
HTM Unrealized Losses 12 months or more	27,372	28,301
HTM Fair Value	111,162	110,374
HTM Unrealized Losses	$ 27,372	$ 28,301

X

- Definition Amount of accumulated unrealized loss on investment in debt security measured at amortized cost (held-to-maturity), in continuous loss position for 12 months or longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27337-111563 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -Subparagraph (a)(2) -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27290-111563 + Details Name: us-gaap_HeldToMaturitySecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of accumulated unrealized loss on investment in debt security measured at amortized cost (held-to-maturity), in unrealized loss position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -Subparagraph (a)(2) -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27290-111563 + Details Name: us-gaap_HeldToMaturitySecuritiesContinuousUnrealizedLossPositionAccumulatedLoss Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Fair value of investment in debt security measured at amortized cost (held-to-maturity), in unrealized loss position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -Subparagraph (a)(1) -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27290-111563 + Details Name: us-gaap_HeldToMaturitySecuritiesContinuousUnrealizedLossPositionFairValue Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of accumulated unrealized loss on investment in debt security measured at amortized cost (held-to-maturity), in continuous loss position for less than 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -Subparagraph (a)(2) -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27290-111563 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27337-111563 + Details Name: us-gaap_HeldToMaturitySecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Fair value of investment in debt security measured at amortized cost (held-to-maturity), in continuous unrealized loss position for less than 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27337-111563 + Details Name: us-gaap_HeldToMaturitySecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Fair value of investment in debt security measured at amortized cost (held-to-maturity), in continuous unrealized loss position for 12 months or longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27337-111563 + Details Name: us-gaap_HeldToMaturitySecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details Name: us-gaap_ScheduleOfHeldToMaturitySecuritiesLineItems Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

X

- Details Name: srt_StatementGeographicalAxis=country_PR Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_InvestmentTypeAxis=us-gaap_MunicipalBondsMember Namespace Prefix: Data Type: na Balance Type: Period Type:

v3.20.1

LOANS HELD FOR INVESTMENT - Corporation's Commercial and Construction Loans by Portfolio Classes and by Origination Year Based on the Internal Credit Risk Category (Detail) - Loans held for investmet [Member] - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	$ 9,038,947	$ 9,002,205
Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	7,103,906	7,128,277
Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	1,935,041	1,873,928
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	45,706
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	469,504
Financing Receivable, Originated Two Years before Latest Fiscal Year	301,854
Financing Receivable, Originated Three Years before Latest Fiscal Year	304,482
Financing Receivable, Originated Four Years before Latest Fiscal Year	78,156
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	419,134
Financing Receivable, Revolving	617,382
Financing Receivable, before Allowance for Credit Loss	2,236,218	2,230,876
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	10,811
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	225,484
Financing Receivable, Originated Two Years before Latest Fiscal Year	149,528
Financing Receivable, Originated Three Years before Latest Fiscal Year	139,846
Financing Receivable, Originated Four Years before Latest Fiscal Year	56,409
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	351,947
Financing Receivable, Revolving	437,403
Financing Receivable, before Allowance for Credit Loss	1,371,428	1,391,413
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	34,894
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	244,020
Financing Receivable, Originated Two Years before Latest Fiscal Year	152,326
Financing Receivable, Originated Three Years before Latest Fiscal Year	164,636
Financing Receivable, Originated Four Years before Latest Fiscal Year	21,747
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	67,188
Financing Receivable, Revolving	179,979
Financing Receivable, before Allowance for Credit Loss	864,790	839,463
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	45,706
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	469,408
Financing Receivable, Originated Two Years before Latest Fiscal Year	298,790
Financing Receivable, Originated Three Years before Latest Fiscal Year	303,451
Financing Receivable, Originated Four Years before Latest Fiscal Year	76,877
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	370,085
Financing Receivable, Revolving	603,144
Financing Receivable, before Allowance for Credit Loss	2,167,461	2,159,501
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Pass [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	10,811
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	225,388
Financing Receivable, Originated Two Years before Latest Fiscal Year	146,464
Financing Receivable, Originated Three Years before Latest Fiscal Year	138,815
Financing Receivable, Originated Four Years before Latest Fiscal Year	55,130
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	304,636
Financing Receivable, Revolving	423,165
Financing Receivable, before Allowance for Credit Loss	1,304,409	1,321,804
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Pass [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	34,894
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	244,020
Financing Receivable, Originated Two Years before Latest Fiscal Year	152,326
Financing Receivable, Originated Three Years before Latest Fiscal Year	164,636
Financing Receivable, Originated Four Years before Latest Fiscal Year	21,747
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	65,450
Financing Receivable, Revolving	179,979
Financing Receivable, before Allowance for Credit Loss	863,052	837,697
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Special Mention [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	573
Financing Receivable, Originated Three Years before Latest Fiscal Year	933
Financing Receivable, Originated Four Years before Latest Fiscal Year	82
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	9,175
Financing Receivable, Revolving	8,485
Financing Receivable, before Allowance for Credit Loss	19,248	39,327
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Special Mention [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	573
Financing Receivable, Originated Three Years before Latest Fiscal Year	933
Financing Receivable, Originated Four Years before Latest Fiscal Year	82
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	9,175
Financing Receivable, Revolving	8,485
Financing Receivable, before Allowance for Credit Loss	19,248	39,327
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Special Mention [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	1,766
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Substandard [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	96
Financing Receivable, Originated Two Years before Latest Fiscal Year	2,491
Financing Receivable, Originated Three Years before Latest Fiscal Year	98
Financing Receivable, Originated Four Years before Latest Fiscal Year	1,197
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	39,874
Financing Receivable, Revolving	5,753
Financing Receivable, before Allowance for Credit Loss	49,509	29,031
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Substandard [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	96
Financing Receivable, Originated Two Years before Latest Fiscal Year	2,491
Financing Receivable, Originated Three Years before Latest Fiscal Year	98
Financing Receivable, Originated Four Years before Latest Fiscal Year	1,197
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	38,136
Financing Receivable, Revolving	5,753
Financing Receivable, before Allowance for Credit Loss	47,771	27,265
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Substandard [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	1,738
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	1,738	0
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Doubtful [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	2,768
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Doubtful [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	2,768
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Doubtful [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	0
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Loss [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	249
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Loss [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	249
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Loss [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	0
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	87,661
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	378,159
Financing Receivable, Originated Two Years before Latest Fiscal Year	212,270
Financing Receivable, Originated Three Years before Latest Fiscal Year	168,901
Financing Receivable, Originated Four Years before Latest Fiscal Year	128,006
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	415,082
Financing Receivable, Revolving	64,674
Financing Receivable, before Allowance for Credit Loss	1,454,753	1,444,586
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	86,347
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	295,273
Financing Receivable, Originated Two Years before Latest Fiscal Year	175,341
Financing Receivable, Originated Three Years before Latest Fiscal Year	122,553
Financing Receivable, Originated Four Years before Latest Fiscal Year	75,673
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	324,189
Financing Receivable, Revolving	13
Financing Receivable, before Allowance for Credit Loss	1,079,389	1,079,900
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	1,314
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	82,887
Financing Receivable, Originated Two Years before Latest Fiscal Year	36,929
Financing Receivable, Originated Three Years before Latest Fiscal Year	46,347
Financing Receivable, Originated Four Years before Latest Fiscal Year	52,333
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	90,893
Financing Receivable, Revolving	64,661
Financing Receivable, before Allowance for Credit Loss	375,364	364,686
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	87,377
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	378,159
Financing Receivable, Originated Two Years before Latest Fiscal Year	212,270
Financing Receivable, Originated Three Years before Latest Fiscal Year	88,902
Financing Receivable, Originated Four Years before Latest Fiscal Year	125,669
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	351,455
Financing Receivable, Revolving	64,674
Financing Receivable, before Allowance for Credit Loss	1,308,506	1,255,668
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Pass [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	86,063
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	295,273
Financing Receivable, Originated Two Years before Latest Fiscal Year	175,341
Financing Receivable, Originated Three Years before Latest Fiscal Year	42,555
Financing Receivable, Originated Four Years before Latest Fiscal Year	73,336
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	260,877
Financing Receivable, Revolving	13
Financing Receivable, before Allowance for Credit Loss	933,458	891,298
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Pass [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	1,314
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	82,887
Financing Receivable, Originated Two Years before Latest Fiscal Year	36,929
Financing Receivable, Originated Three Years before Latest Fiscal Year	46,347
Financing Receivable, Originated Four Years before Latest Fiscal Year	52,333
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	90,578
Financing Receivable, Revolving	64,661
Financing Receivable, before Allowance for Credit Loss	375,049	364,370
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Special Mention [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	284
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	79,999
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	11,205
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	91,488	13,080
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Special Mention [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	284
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	79,998
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	11,205
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	91,487	13,080
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Special Mention [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	0
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Substandard [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	2,337
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	52,422
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	54,759	175,838
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Substandard [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	2,337
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	52,107
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	54,444	175,522
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Substandard [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	315
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	315	316
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Doubtful [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	0
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Doubtful [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	0
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Doubtful [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	0
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Loss [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	0
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Loss [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	0
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Loss [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	0
Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	35,368
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	24,575
Financing Receivable, Originated Two Years before Latest Fiscal Year	44,731
Financing Receivable, Originated Three Years before Latest Fiscal Year	31,693
Financing Receivable, Originated Four Years before Latest Fiscal Year	10,479
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	8,513
Financing Receivable, Revolving	4,316
Financing Receivable, before Allowance for Credit Loss	159,675	111,317
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	5,033
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	14,831
Financing Receivable, Originated Two Years before Latest Fiscal Year	5,028
Financing Receivable, Originated Three Years before Latest Fiscal Year	14,629
Financing Receivable, Originated Four Years before Latest Fiscal Year	10,479
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	8,513
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	58,513	48,246
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	30,335
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	9,744
Financing Receivable, Originated Two Years before Latest Fiscal Year	39,703
Financing Receivable, Originated Three Years before Latest Fiscal Year	17,064
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	4,316
Financing Receivable, before Allowance for Credit Loss	101,162	63,071
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	35,368
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	23,689
Financing Receivable, Originated Two Years before Latest Fiscal Year	42,873
Financing Receivable, Originated Three Years before Latest Fiscal Year	31,693
Financing Receivable, Originated Four Years before Latest Fiscal Year	5,329
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	3,992
Financing Receivable, Revolving	4,316
Financing Receivable, before Allowance for Credit Loss	147,260	98,751
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Pass [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	5,033
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	13,945
Financing Receivable, Originated Two Years before Latest Fiscal Year	3,170
Financing Receivable, Originated Three Years before Latest Fiscal Year	14,629
Financing Receivable, Originated Four Years before Latest Fiscal Year	5,329
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	3,992
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	46,098	35,680
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Pass [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	30,335
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	9,744
Financing Receivable, Originated Two Years before Latest Fiscal Year	39,703
Financing Receivable, Originated Three Years before Latest Fiscal Year	17,064
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	4,316
Financing Receivable, before Allowance for Credit Loss	101,162	63,071
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Special Mention [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	0
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Special Mention [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	0
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Special Mention [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	0
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Substandard [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	886
Financing Receivable, Originated Two Years before Latest Fiscal Year	1,858
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	5,150
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	4,521
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	12,415	12,566
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Substandard [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	886
Financing Receivable, Originated Two Years before Latest Fiscal Year	1,858
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	5,150
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	4,521
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	12,415	12,566
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Substandard [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	0
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Doubtful [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	0
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Doubtful [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	0
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Doubtful [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	0
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Loss [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	0
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Loss [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	0
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Loss [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	$ 0	$ 0

X

- Definition Amount of financing receivable originated five or more years prior to latest fiscal year. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 79 -URI http://asc.fasb.org/extlink&oid=118955255&loc=SL82922352-210448 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919232-210447 + Details Name: us-gaap_FinancingReceivableOriginatedFiveOrMoreYearsBeforeLatestFiscalYear Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of financing receivable originated four years prior to latest fiscal year. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 79 -URI http://asc.fasb.org/extlink&oid=118955255&loc=SL82922352-210448 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919232-210447 + Details Name: us-gaap_FinancingReceivableOriginatedFourYearsBeforeLatestFiscalYear Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of financing receivable originated in current fiscal year. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 79 -URI http://asc.fasb.org/extlink&oid=118955255&loc=SL82922352-210448 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919232-210447 + Details Name: us-gaap_FinancingReceivableOriginatedInCurrentFiscalYear Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of financing receivable originated in fiscal year prior to latest fiscal year. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919232-210447 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 79 -URI http://asc.fasb.org/extlink&oid=118955255&loc=SL82922352-210448 + Details Name: us-gaap_FinancingReceivableOriginatedInFiscalYearBeforeLatestFiscalYear Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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v3.20.1

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Preferred Stock [Member]	Common Stock [Member]	Additional Paid In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income [Member]
Total stockholders' equity		$ 36,104	$ 21,724	$ 939,674	$ 1,087,617	$ (40,415)
Balance at beginning of period at Dec. 31, 2018		36,104	21,724	939,674	1,087,617	(40,415)
Common stock withheld for taxes			(17)	(1,865)
Restricted stock grants			26	(26)
Stock-based compensation				1,018
Net income	$ 43,314				43,314
Dividends on common stock					(6,538)
Dividends on preferred stock					(669)
Other comprehensive income, net of tax	20,510					20,510
Balance at end of period at Mar. 31, 2019	2,100,457	36,104	21,733	938,801	1,123,724	(19,905)
Total stockholders' equity	2,100,457	36,104	21,733	938,801	1,123,724	(19,905)
Total stockholders' equity	2,100,457	36,104	21,733	938,801	1,123,724	(19,905)
Total stockholders' equity	2,228,073	36,104	21,736	941,652	1,221,817	6,764
Balance at beginning of period at Dec. 31, 2019	2,228,073	36,104	21,736	941,652	1,221,817	6,764
Common stock withheld for taxes			(5)	(193)
Restricted stock grants			85	(85)
Stock-based compensation				1,142
Net income	2,266				2,266
Dividends on common stock					(10,893)
Dividends on preferred stock					(669)
Other comprehensive income, net of tax	42,352					42,352
Balance at end of period at Mar. 31, 2020	2,199,751	36,104	21,816	942,516	1,150,199	49,116
Total stockholders' equity	2,199,751	36,104	21,816	942,516	1,150,199	49,116
Total stockholders' equity	$ 2,199,751	$ 36,104	$ 21,816	$ 942,516	$ 1,150,199	$ 49,116

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- Definition Amount of paid and unpaid preferred stock dividends declared with the form of settlement in cash, stock and payment-in-kind (PIK). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 405 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957935&loc=d3e64057-112817 + Details Name: us-gaap_DividendsPreferredStock Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1A -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669619-108580 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(22)) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1B -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669625-108580 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(18)) -URI http://asc.fasb.org/extlink&oid=116637232&loc=SL114874131-224263 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(20)) -URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details Name: us-gaap_NetIncomeLoss Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition Amount after tax and reclassification adjustments of other comprehensive income (loss). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669619-108580 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21463-112644 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 55 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=118951672&loc=d3e1436-108581 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1B -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669625-108580 + Details Name: us-gaap_OtherComprehensiveIncomeLossNetOfTax Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition Aggregate value of stock related to Restricted Stock Awards issued during the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21463-112644 + Details Name: us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardGross Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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v3.20.1

LOANS HELD FOR INVESTMENT - Corporation's nonaccrual status and loans 90 days or more still accruing (Detail) - Loans held for investmet [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with No ACL	$ 62,292
Nonaccrual Loans with ACL	150,003
Total Nonaccrual Loans	212,295	$ 210,668
Loans Past Due 90 days or more Still Accruing	131,441	135,042
Interest Income Recognized on Nonaccrual Loans	615
Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with No ACL	61,329
Nonaccrual Loans with ACL	135,636
Total Nonaccrual Loans	196,965	196,383
Loans Past Due 90 days or more Still Accruing	130,729	134,913
Interest Income Recognized on Nonaccrual Loans	505
Florida region [Member]
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with No ACL	963
Nonaccrual Loans with ACL	14,367
Total Nonaccrual Loans	15,330	14,285
Loans Past Due 90 days or more Still Accruing	712	129
Interest Income Recognized on Nonaccrual Loans	110
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member]
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with No ACL	34,799
Nonaccrual Loans with ACL	88,104
Total Nonaccrual Loans	122,903	121,408
Loans Past Due 90 days or more Still Accruing	37,968	40,208
Interest Income Recognized on Nonaccrual Loans	377
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with No ACL	34,603
Nonaccrual Loans with ACL	74,117
Total Nonaccrual Loans	108,720	108,117
Loans Past Due 90 days or more Still Accruing	37,968	40,208
Interest Income Recognized on Nonaccrual Loans	294
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Florida region [Member]
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with No ACL	196
Nonaccrual Loans with ACL	13,987
Total Nonaccrual Loans	14,183	13,291
Loans Past Due 90 days or more Still Accruing	0	0
Interest Income Recognized on Nonaccrual Loans	83
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member]
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with No ACL	0
Nonaccrual Loans with ACL	0
Total Nonaccrual Loans	0	0
Loans Past Due 90 days or more Still Accruing	77,766	81,140
Interest Income Recognized on Nonaccrual Loans	0
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with No ACL	0
Nonaccrual Loans with ACL	0
Total Nonaccrual Loans	0	0
Loans Past Due 90 days or more Still Accruing	77,637	81,011
Interest Income Recognized on Nonaccrual Loans	0
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Florida region [Member]
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with No ACL	0
Nonaccrual Loans with ACL	0
Total Nonaccrual Loans	0	0
Loans Past Due 90 days or more Still Accruing	129	129
Interest Income Recognized on Nonaccrual Loans	0
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with No ACL	6,271
Nonaccrual Loans with ACL	13,463
Total Nonaccrual Loans	19,734	18,773
Loans Past Due 90 days or more Still Accruing	6,510	7,061
Interest Income Recognized on Nonaccrual Loans	51
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with No ACL	5,979
Nonaccrual Loans with ACL	13,463
Total Nonaccrual Loans	19,442	18,458
Loans Past Due 90 days or more Still Accruing	6,510	7,061
Interest Income Recognized on Nonaccrual Loans	32
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Florida region [Member]
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with No ACL	292
Nonaccrual Loans with ACL	0
Total Nonaccrual Loans	292	315
Loans Past Due 90 days or more Still Accruing	0	0
Interest Income Recognized on Nonaccrual Loans	19
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with No ACL	12,687
Nonaccrual Loans with ACL	23,266
Total Nonaccrual Loans	35,953	40,076
Loans Past Due 90 days or more Still Accruing	4,655	2,222
Interest Income Recognized on Nonaccrual Loans	74
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with No ACL	12,687
Nonaccrual Loans with ACL	23,266
Total Nonaccrual Loans	35,953	40,076
Loans Past Due 90 days or more Still Accruing	4,072	2,222
Interest Income Recognized on Nonaccrual Loans	74
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Florida region [Member]
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with No ACL	0
Nonaccrual Loans with ACL	0
Total Nonaccrual Loans	0	0
Loans Past Due 90 days or more Still Accruing	583	0
Interest Income Recognized on Nonaccrual Loans	0
Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with No ACL	6,991
Nonaccrual Loans with ACL	2,672
Total Nonaccrual Loans	9,663	9,782
Loans Past Due 90 days or more Still Accruing	29	0
Interest Income Recognized on Nonaccrual Loans	20
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with No ACL	6,991
Nonaccrual Loans with ACL	2,672
Total Nonaccrual Loans	9,663	9,782
Loans Past Due 90 days or more Still Accruing	29	0
Interest Income Recognized on Nonaccrual Loans	20
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Florida region [Member]
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with No ACL	0
Nonaccrual Loans with ACL	0
Total Nonaccrual Loans	0	0
Loans Past Due 90 days or more Still Accruing	0	0
Interest Income Recognized on Nonaccrual Loans	0
Consumer Portfolio Segment [Member] | Auto loans [Member]
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with No ACL	37
Nonaccrual Loans with ACL	14,890
Total Nonaccrual Loans	14,927	12,220
Loans Past Due 90 days or more Still Accruing	0	0
Interest Income Recognized on Nonaccrual Loans	52
Consumer Portfolio Segment [Member] | Auto loans [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with No ACL	37
Nonaccrual Loans with ACL	14,764
Total Nonaccrual Loans	14,801	12,057
Loans Past Due 90 days or more Still Accruing	0	0
Interest Income Recognized on Nonaccrual Loans	50
Consumer Portfolio Segment [Member] | Auto loans [Member] | Florida region [Member]
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with No ACL	0
Nonaccrual Loans with ACL	126
Total Nonaccrual Loans	126	163
Loans Past Due 90 days or more Still Accruing	0	0
Interest Income Recognized on Nonaccrual Loans	2
Consumer Portfolio Segment [Member] | Finance Leases [Member]
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with No ACL	0
Nonaccrual Loans with ACL	1,925
Total Nonaccrual Loans	1,925	1,354
Loans Past Due 90 days or more Still Accruing	0	0
Interest Income Recognized on Nonaccrual Loans	11
Consumer Portfolio Segment [Member] | Finance Leases [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with No ACL	0
Nonaccrual Loans with ACL	1,925
Total Nonaccrual Loans	1,925	1,354
Loans Past Due 90 days or more Still Accruing	0	0
Interest Income Recognized on Nonaccrual Loans	11
Consumer Portfolio Segment [Member] | Finance Leases [Member] | Florida region [Member]
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with No ACL	0
Nonaccrual Loans with ACL	0
Total Nonaccrual Loans	0	0
Loans Past Due 90 days or more Still Accruing	0	0
Interest Income Recognized on Nonaccrual Loans	0
Consumer Portfolio Segment [Member] | Personal Loans [Member]
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with No ACL	0
Nonaccrual Loans with ACL	1,752
Total Nonaccrual Loans	1,752	1,528
Loans Past Due 90 days or more Still Accruing	0	0
Interest Income Recognized on Nonaccrual Loans	21
Consumer Portfolio Segment [Member] | Personal Loans [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with No ACL	0
Nonaccrual Loans with ACL	1,498
Total Nonaccrual Loans	1,498	1,523
Loans Past Due 90 days or more Still Accruing	0	0
Interest Income Recognized on Nonaccrual Loans	19
Consumer Portfolio Segment [Member] | Personal Loans [Member] | Florida region [Member]
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with No ACL	0
Nonaccrual Loans with ACL	254
Total Nonaccrual Loans	254	5
Loans Past Due 90 days or more Still Accruing	0	0
Interest Income Recognized on Nonaccrual Loans	2
Consumer Portfolio Segment [Member] | Credit cards [Member]
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with No ACL	0
Nonaccrual Loans with ACL	0
Total Nonaccrual Loans	0	0
Loans Past Due 90 days or more Still Accruing	4,513	4,411
Interest Income Recognized on Nonaccrual Loans	0
Consumer Portfolio Segment [Member] | Credit cards [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with No ACL	0
Nonaccrual Loans with ACL	0
Total Nonaccrual Loans	0	0
Loans Past Due 90 days or more Still Accruing	4,513	4,411
Interest Income Recognized on Nonaccrual Loans	0
Consumer Portfolio Segment [Member] | Credit cards [Member] | Florida region [Member]
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with No ACL	0
Nonaccrual Loans with ACL	0
Total Nonaccrual Loans	0	0
Loans Past Due 90 days or more Still Accruing	0	0
Interest Income Recognized on Nonaccrual Loans	0
Consumer Portfolio Segment [Member] | Other Loans [Member]
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with No ACL	1,507
Nonaccrual Loans with ACL	3,931
Total Nonaccrual Loans	5,438	5,527
Loans Past Due 90 days or more Still Accruing	0	0
Interest Income Recognized on Nonaccrual Loans	9
Consumer Portfolio Segment [Member] | Other Loans [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with No ACL	1,032
Nonaccrual Loans with ACL	3,931
Total Nonaccrual Loans	4,963	5,016
Loans Past Due 90 days or more Still Accruing	0	0
Interest Income Recognized on Nonaccrual Loans	5
Consumer Portfolio Segment [Member] | Other Loans [Member] | Florida region [Member]
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with No ACL	475
Nonaccrual Loans with ACL	0
Total Nonaccrual Loans	475	511
Loans Past Due 90 days or more Still Accruing	0	$ 0
Interest Income Recognized on Nonaccrual Loans	$ 4

X

- Definition Amount of financing receivable on nonaccrual status with allowance for credit loss. + References No definition available. + Details Name: fbp_FinancingReceivableNonaccrualWithAllowance Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of interest income on financing receivable on nonaccrual status. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 16 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919258-210447 + Details Name: us-gaap_FinancingReceivableNonaccrualInterestIncome Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

X

- Definition Amount of financing receivable on nonaccrual status with no allowance for credit loss. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 16 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919258-210447 + Details Name: us-gaap_FinancingReceivableNonaccrualNoAllowance Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details Name: us-gaap_FinancingReceivableNonaccrualStatusLineItems Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

X

- Definition Amount of financing receivable 90 days or more past due and still accruing. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 16 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919258-210447 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 7 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=118936363&loc=d3e5111-111524 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 80 -URI http://asc.fasb.org/extlink&oid=118955255&loc=SL82922355-210448 + Details Name: us-gaap_FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Amount of financing receivable on nonaccrual status. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 7 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118936363&loc=d3e5111-111524 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 16 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919258-210447 + Details Name: us-gaap_FinancingReceivableRecordedInvestmentNonaccrualStatus Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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v3.20.1

INVESTMENT SECURITIES - Available-For-Sale Investments' Fair Value And Gross Unrealized Losses (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Schedule of Available-for-sale Securities [Line Items]
Fair Value Less than 12 months	$ 43,784	$ 278,893
Unrealized Losses Less than 12 months	650	1,634
Fair Value 12 months or more	36,886	358,629
Unrealized Losses 12 months or more	5,912	8,422
Total Fair Value	80,670	637,522
Total Unrealized Losses	6,562	10,056
Puerto Rico Government obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value Less than 12 months	0	0
Unrealized Losses Less than 12 months	0	0
Fair Value 12 months or more	2,969	2,974
Unrealized Losses 12 months or more	1,144	1,192
Total Fair Value	2,969	2,974
Total Unrealized Losses	1,144	1,192
U.S. Treasury and U.S. government agencies obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value Less than 12 months	3,213	45,073
Unrealized Losses Less than 12 months	1	172
Fair Value 12 months or more	22,280	99,764
Unrealized Losses 12 months or more	75	252
Total Fair Value	25,493	144,837
Total Unrealized Losses	76	424
Mortgage Backed Securities [Member] | FNMA [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value Less than 12 months		58,668
Unrealized Losses Less than 12 months		499
Fair Value 12 months or more		173,708
Unrealized Losses 12 months or more		1,353
Total Fair Value		232,376
Total Unrealized Losses		1,852
Mortgage Backed Securities [Member] | FHLMC [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value Less than 12 months	0	74,134
Unrealized Losses Less than 12 months	0	270
Fair Value 12 months or more	728	63,864
Unrealized Losses 12 months or more	2	716
Total Fair Value	728	137,998
Total Unrealized Losses	2	986
Mortgage Backed Securities [Member] | GNMA [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value Less than 12 months	0	79,145
Unrealized Losses Less than 12 months	0	472
Fair Value 12 months or more	609	7,203
Unrealized Losses 12 months or more	2	28
Total Fair Value	609	86,348
Total Unrealized Losses	2	500
Mortgage Backed Securities [Member] | Collateralized mortgage obligations guaranteed by the FHLMC, FNMA and GNMA [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value Less than 12 months	40,571	21,873
Unrealized Losses Less than 12 months	649	221
Fair Value 12 months or more	0	0
Unrealized Losses 12 months or more	0	0
Total Fair Value	40,571	21,873
Total Unrealized Losses	649	221
Mortgage Backed Securities [Member] | Private label [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value Less than 12 months	0	0
Unrealized Losses Less than 12 months	0	0
Fair Value 12 months or more	10,300	11,116
Unrealized Losses 12 months or more	4,689	4,881
Total Fair Value	10,300	11,116
Total Unrealized Losses	$ 4,689	$ 4,881

X

- Definition Amount of accumulated unrealized loss on investments in debt and equity securities classified as available-for-sale in a continuous loss position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27337-111563 + Details Name: us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionAccumulatedLoss Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in continuous unrealized loss position for more than 12 months, without allowance for credit loss. Includes beneficial interest in securitized financial asset. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=118955579&loc=SL82922890-210455 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27337-111563 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=118942371&loc=SL82922954-210456 + Details Name: us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of accumulated unrealized loss on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in continuous unrealized loss position for 12 months or longer, without allowance for credit loss. Includes beneficial interest in securitized financial asset. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27337-111563 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=118955579&loc=SL82922890-210455 + Details Name: us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in continuous unrealized loss position for less than 12 months, without allowance for credit loss. Includes beneficial interest in securitized financial asset. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27337-111563 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=118955579&loc=SL82922890-210455 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=118942371&loc=SL82922954-210456 + Details Name: us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of accumulated unrealized loss on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in continuous unrealized loss position for less than 12 months, without allowance for credit loss. Includes beneficial interest in securitized financial asset. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=118955579&loc=SL82922890-210455 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27337-111563 + Details Name: us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position without allowance for credit loss. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -Subparagraph (a)(1) -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27290-111563 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 50 -Paragraph 4 -Subparagraph (a)(1) -URI http://asc.fasb.org/extlink&oid=118955579&loc=SL82922888-210455 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=118942371&loc=SL82922954-210456 + Details Name: us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPosition Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details Name: us-gaap_ScheduleOfAvailableForSaleSecuritiesLineItems Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

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v3.20.1

STOCK-BASED COMPENSATION - Shares Withheld - Additional Information (Detail) - shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock repurchased	50,285	168,679
Omnibus Plan [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock repurchased	50,285	168,679

X

- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details Name: us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

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- Definition Number of shares that have been repurchased during the period and are being held in treasury. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21463-112644 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details Name: us-gaap_TreasuryStockSharesAcquired Namespace Prefix: us-gaap_ Data Type: xbrli:sharesItemType Balance Type: na Period Type: duration

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v3.20.1

INVESTMENT SECURITIES - Debt Securities Held-to-Maturity by Credit Quality Indicator (Detail) - Municipal Bonds [Member] - Puerto Rico [Member] - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Schedule Of Held To Maturity Securities [Line Items]
Held to Maturity Amortized cost	$ 138,534	$ 138,675
Pass [Member]
Schedule Of Held To Maturity Securities [Line Items]
Held to Maturity Amortized cost	138,534	138,675
Special Mention [Member]
Schedule Of Held To Maturity Securities [Line Items]
Held to Maturity Amortized cost	0	0
Substandard [Member]
Schedule Of Held To Maturity Securities [Line Items]
Held to Maturity Amortized cost	0	0
Doubtful [Member]
Schedule Of Held To Maturity Securities [Line Items]
Held to Maturity Amortized cost	0	0
Loss [Member]
Schedule Of Held To Maturity Securities [Line Items]
Held to Maturity Amortized cost	$ 0	$ 0

X

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v3.20.1

POTENTIAL ACQUISITION OF BANCO SANTANDER PUERTO RICO	3 Months Ended
	Mar. 31, 2020
Disclosure Text Block [Abstract]
Unusual or Infrequent Items, or Both, Disclosure [Text Block]	NOTE 2 – POTENTIAL ACQUISITION OF BANCO SANTANDER PUERTO RICO   On October 21, 2019, the Corporation announced the signing of a stock purchase agreement between FirstBank and Santander Holdings USA, Inc., pursuant to which FirstBank will acquire Santander Bancorp (“Santander BanCorp”), a wholly-owned subsidiary of Santander Holdings USA, Inc. and the holding company of Banco Santander Puerto Rico (“BSPR”). The purchase price is based on a formula set forth in the stock purchase agreement and is subject to adjustment based on Santander BanCorp's consolidated balance sheet as of the closing date of the acquisition (the “Closing”). The purchase price formula consists of the following: (i) a base purchase price equal to 117.5% of Santander BanCorp's core tangible common equity; (ii) a fixed $65 million premium on core tangible common equity; and (iii) an adjustment equal to 100% of the deemed excess capital of Santander BanCorp at Closing. The transaction is structured as an all-cash acquisition of all of the issued and outstanding common stock of Santander Bancorp, the sole shareholder of BSPR, a corporation incorporated under the laws of the Commonwealth of Puerto Rico and sole shareholder of Santander Insurance Agency, Inc. (Santander Bancorp is referred to together with BSPR collectively as the “Acquired Companies”). Immediately following the Closing, Santander Bancorp (a direct wholly-owned subsidiary of FirstBank following the Closing) will merge with and into FirstBank (the “HoldCo Merger”), with FirstBank surviving the HoldCo Merger (the “Surviving Bank”). Immediately following the effectiveness of the HoldCo Merger, BSPR (a direct wholly-owned subsidiary of the Surviving Bank following the effectiveness of the HoldCo Merger) will merge with and into FirstBank, with FirstBank as the surviving entity in the merger.   Prior to the Closing, Santander Holdings USA, Inc., has agreed to sell or otherwise transfer to Santander Holdings USA, Inc., any of its affiliates or any other third party (other than any Acquired Company) (i) all non-performing assets (along with all collateral and rights to collection related thereto) of BSPR (the “Non-Performing Assets Transfer”), and (ii) Santander Asset Management, LLC, a limited liability company organized under the laws of the Commonwealth of Puerto Rico and a direct wholly-owned subsidiary of Santander Bancorp (the “Reorganization”). The Closing is conditioned on, among other things, consummation of the Non-Performing Assets Transfer, the Reorganization, and receipt of all required regulatory approvals.   Since the third quarter of 2019, the Corporation has incurred in merger and restructuring costs totaling $12.2 million in connection with the pending acquisition of BSPR, including $0.8 million recorded during the first quarter of 2020, which are presented as Merger and Restructuring costs in the accompanying consolidated statements of income for the first quarter of 2020. Merger and restructuring costs primarily have included advisory, legal, valuation, and other professional service fees, as well as charges related to a voluntary separation program (the “VSP”) offered to eligible employees at FirstBank in connection with initiatives to capitalize on expected operational efficiencies from the acquisition.   The transaction has been unanimously approved by both companies’ boards of directors. With respect to the Corporation’s announced transaction to acquire BSPR, the Corporation continues to work with the applicable regulators in their review of the transaction. Taking into account the impact of the COVID-19 pandemic, the Corporation now believes it is unlikely that all regulatory approvals necessary to close the transaction will be received by the middle of 2020 as previously expected. The Corporation continues to cooperate with its regulators and to provide additional requested information as part of the application process. There can be no assurance that the regulatory approvals will not contain a condition or requirement that results in a failure to satisfy the conditions to closing set forth in the stock purchase agreement.

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v3.20.1

OFFESTTING OF ASSETS AND LIABILITIES - Offsetting of financial assets and liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Offsetting [Abstract]
Gross amount recognized of derivative asset	$ 9	$ 11
Gross amount of derivatives assets offset	0	0
Net asset amount of assets presented in the Statement of Financial Condition	9	11
Obligation to return Financial instrument, derivatives assets	0	0
Obligation to return Cash Collateral, derivative assets	(9)	(11)
Net derivative asset amount not offset	0	0
Gross amount recognized of repurchase agreements	300,000	300,000
Gross amount of repurchase agreements offset	0	(200,000)
Net repurchase agreements amount offset presented	300,000	100,000
Right to claim Financial instrument, repurchase agreements	(300,000)	(100,000)
Right to claim Cash Collateral, repurchase agreements	0	0
Net repurchase agreements amount not offset	0	0
Securities Purchased Under Agreements To Resell Gross	0	200,000
Securities Purchased Under Agreements To Resell Liability	0	(200,000)
Securities Purchased Under Agreements To Resell Not Offset	0	0
Securities Purchased Under Agreements To Resell Collateral Obligation To Return Securities	0	0
Securities Purchased Under Agreements To Resell Collateral Obligation To Return Cash	0	0
Securities Purchased Under Agreements To Resell Amount Offset Against Collateral	0	0
Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Gross	9	200,011
Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Liability	0	(200,000)
Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Liability Not Offset	9	11
Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Collateral Obligation To Return Securities	0	0
Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Collateral Obligation To Return Cash	(9)	(11)
Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Amount Offset Against Collateral	$ 0	$ 0

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- Definition Amount, after effects of master netting arrangements, of funds outstanding borrowed in the form of a security repurchase agreement between the entity and another party for the sale and repurchase of identical or substantially the same securities at a date certain for a specified price offset against a right to receive collateral. Includes liabilities not subject to a master netting arrangement and not elected to be offset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 55 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=99393222&loc=SL20226016-175313 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 + Details Name: us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseAmountOffsetAgainstCollateral Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Amount of asset associated with funds outstanding borrowed in the form of a security repurchase agreement between the entity and another party for the sale and repurchase of identical or substantially the same securities at a date certain for a specified price. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=99393222&loc=SL20226003-175313 + Details Name: us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseAsset Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of right to receive cash collateral under master netting arrangements that have not been offset against securities sold under agreement to repurchase. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 55 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=99393222&loc=SL20226016-175313 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (d)(2) -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 + Details Name: us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseCollateralRightToReclaimCash Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Amount of right to receive securities collateral under master netting arrangements that have not been offset against securities sold under agreement to repurchase. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (d)(2) -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 55 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=99393222&loc=SL20226016-175313 + Details Name: us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseCollateralRightToReclaimSecurities Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount, before effects of master netting arrangements, of funds outstanding borrowed in the form of a security repurchase agreement between the entity and another party for the sale and repurchase of identical or substantially the same securities at a date certain for a specified price. Includes liabilities elected not to be offset. Excludes liabilities not subject to a master netting arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 55 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=99393222&loc=SL20226000-175313 + Details Name: us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseGross Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

v3.20.1

LEASES - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Lessee, Lease, Description [Line Items]
Finance lease	$ 0.0
Operating lease cost	$ 2.6	$ 2.7
Minimum [Member]
Lessee, Lease, Description [Line Items]
Lease terms	2 years
Maximum [Member]
Lessee, Lease, Description [Line Items]
Lease terms	30 years
Option to extend	7 years

X

- Definition Present value of lessee's discounted obligation for lease payments from finance lease. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 45 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=77888419&loc=SL77918627-209977 + Details Name: us-gaap_FinanceLeaseLiability Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details Name: us-gaap_LesseeLeaseDescriptionLineItems Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

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- Definition Term of lessee's operating lease renewal, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (a)(3) -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918673-209980 + Details Name: us-gaap_LesseeOperatingLeaseRenewalTerm Namespace Prefix: us-gaap_ Data Type: xbrli:durationItemType Balance Type: na Period Type: instant

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- Definition Term of lessee's operating lease, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (a)(3) -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918673-209980 + Details Name: us-gaap_LesseeOperatingLeaseTermOfContract Namespace Prefix: us-gaap_ Data Type: xbrli:durationItemType Balance Type: na Period Type: instant

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- Definition Amount of single lease cost, calculated by allocation of remaining cost of lease over remaining lease term. Includes, but is not limited to, single lease cost, after impairment of right-of-use asset, calculated by amortization of remaining right-of-use asset and accretion of lease liability. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 55 -Paragraph 53 -URI http://asc.fasb.org/extlink&oid=77888399&loc=SL77918982-209971 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980 + Details Name: us-gaap_OperatingLeaseCost Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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v3.20.1

EQUITY SECURITIES	3 Months Ended
	Mar. 31, 2020
Investments All Other Investments [Abstract]
EQUITY SECURITIES [Text Block]	NOTE 6 – EQUITY SECURITIES   Institutions that are members of the FHLB system are required to maintain a minimum investment in FHLB stock. Such minimum investment is calculated as a percentage of aggregate outstanding mortgages, and the FHLB requires an additional investment that is calculated as a percentage of total FHLB advances, letters of credit, and the collateralized portion of outstanding interest-rate swaps. The stock is capital stock issued at $100 par value. Both stock and cash dividends may be received on FHLB stock.   As of March 31, 2020 and December 31, 2019, the Corporation had investments in FHLB stock carried at a cost of $33.8 million and $34.1 million, respectively. Dividend income from FHLB stock for the quarters ended March 31, 2020 and 2019 was $0.6 million and $0.7 million, respectively.   The FHLB of New York issued the shares of FHLB stock owned by the Corporation. The FHLB of New York is part of the Federal Home Loan Bank System, a national wholesale banking network of 11 regional, stockholder-owned congressionally chartered banks. The FHLBs are all privately capitalized and operated by their member stockholders. The system is supervised by the Federal Housing Finance Agency, which ensures that the FHLBs operate in a financially safe and sound manner, remain adequately capitalized and able to raise funds in the capital markets, and carry out their housing finance mission.   As of March 31, 2020 and December 31, 2019, the Corporation owned other equity securities with a readily determinable fair value of approximately $1.5 million and $1.4 million, respectively. During the first quarter of 2020, the Corporation recognized a marked-to-market gain of $27 thousand associated with these securities ($5 thousand marked-to-market gain in the first quarter of 2019) recorded as part of other non-interest income in the consolidated statements of income. In addition, the Corporation had other equity securities that do not have a readily-determinable fair value. The carrying value of such securities as of March 31, 2020 and December 31, 2019 was $4.3 million and $2.8 million, respectively.

X

- Definition Information about the aggregate carrying amount of investment in equities and other securities that do not have readily determinable fair values. The carrying amount of such securities equals cost, adjusted for other than temporary impairment. Includes investments in stock of the Federal Home Loan Bank. + References No definition available. + Details Name: fbp_Otherinvestmentsecuritiestextblock Namespace Prefix: fbp_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

X

- References No definition available. + Details Name: us-gaap_InvestmentsAllOtherInvestmentsAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

v3.20.1

OTHER REAL ESTATE OWNED	3 Months Ended
	Mar. 31, 2020
Real Estate Owned Disclosure Of Detailed Components [Abstract]
OTHER REAL ESTATE OWNED [Text Block]	NOTE 10 – OTHER REAL ESTATE OWNED The following table presents the OREO inventory as of the dates indicated:                   March 31,     December 31,     2020   2019 (In thousands)           OREO           OREO balances, carrying value:           Residential (1) $ 46,427   $ 46,912 Commercial   45,878     47,271 Construction   7,369     7,443 Total $ 99,674   $ 101,626 Excludes $19.1 million and $16.7 million as of March 31, 2020 and December 31, 2019, respectively, of foreclosures that meet the conditions of ASC Topic 310-40 “Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure,” and are presented as a receivable (other assets) in the consolidated statements of financial condition.

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- Definition The entire disclosure for real estate owned (as defined). Generally, the largest component of real estate owned by lenders is assets taken in settlement of troubled loans through surrender or foreclosure. Real estate investments, real estate loans that qualify as investments in real estate, and premises that are no longer used in operations may also be included in real estate owned. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=118952595&loc=d3e4437-111522 + Details Name: us-gaap_RealEstateOwnedTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

v3.20.1

FIRST BANCORP. (Holding Company Only) Financial Information	3 Months Ended
	Mar. 31, 2020
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
FIRST BANCORP. (Holding Company Only) Financial Information [Text Block]	NOTE 29 – FIRST BANCORP. (HOLDING COMPANY ONLY) FINANCIAL INFORMATION   The following condensed financial information presents the financial position of First BanCorp at the holding company level only as of March 31, 2020 and December 31, 2019, and the results of its operations for the quarters ended March 31, 2020 and 2019:. Statements of Financial Condition (Unaudited)               As of March 31,   As of December 31,   2020   2019 (In thousands)         Assets           Cash and due from banks $ 16,028   $ 16,895 Money market investments   6,211     6,211 Other investment securities   285     285 Investment in First Bank Puerto Rico, at equity   2,331,941     2,362,182 Investment in First Bank Insurance Agency, at equity   28,832     24,995 Investment in FBP Statutory Trust I   1,963     1,963 Investment in FBP Statutory Trust II   3,561     3,561 Other assets   782     509 Total assets $ 2,389,603   $ 2,416,601             Liabilities and Stockholders' Equity           Liabilities:           Other borrowings $ 184,150   $ 184,150 Accounts payable and other liabilities   5,702     4,378 Total liabilities   189,852     188,528             Stockholders' equity   2,199,751     2,228,073 Total liabilities and stockholders' equity $ 2,389,603   $ 2,416,601 Statements of Income   (Unaudited)                   Quarter Ended     March 31,   March 31,     2020   2019     (In thousands)               Income:             Interest income on money market investments $ 33   $ 105   Dividend income from banking subsidiaries   13,629     9,500   Other income   61     75       13,723     9,680   Expense:             Other borrowings   2,032     2,466   Other operating expenses   523     556       2,555     3,022   Income before income taxes and equity in undistributed             (losses) earnings of subsidiaries   11,168     6,658   Income tax provision   1,382     1,339   Equity in undistributed (losses) earnings of subsidiaries   (7,520)     37,995   Net income $ 2,266   $ 43,314   Other comprehensive income, net of tax   42,352     20,510   Comprehensive income $ 44,618   $ 63,824

X

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 + Details Name: us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

v3.20.1

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE - Securities Sold Under Agreements to Repurchase (Parenthetical) (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Assets Sold under Agreements to Repurchase [Line Items]
Reverse repurchase agreements	$ 0	$ 200,000
long term debt [member]
Assets Sold under Agreements to Repurchase [Line Items]
Reverse repurchase agreements	$ 200,000
long term debt [member] | Weighted Average [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets sold under agreements to repurchase interest rate	2.84%	2.26%

X

- Definition Interest rate on the amount to be repaid to the counterparty to the repurchase agreement when the carrying amount (or market value, if higher than the carrying amount) of securities or other assets sold under the repurchase agreement exceeds 10 percent of total assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(m)(1)(i)(A)(ii)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details Name: us-gaap_AssetsSoldUnderAgreementsToRepurchaseInterestRate Namespace Prefix: us-gaap_ Data Type: num:percentItemType Balance Type: na Period Type: instant

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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details Name: us-gaap_AssetsSoldUnderAgreementsToRepurchaseLineItems Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

X

- Definition Amount, after effects of master netting arrangements, of securities borrowed from entities in exchange for collateral offset against an obligation to return collateral under a master netting arrangement. Includes assets not subject to a master netting arrangement and not elected to be offset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 55 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=99393222&loc=SL20226016-175313 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 + Details Name: us-gaap_SecuritiesBorrowedAmountOffsetAgainstCollateral Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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v3.20.1

ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) - Summary of Advances from FHLB (Parenthetical) (Detail)	Mar. 31, 2020	Dec. 31, 2019
long term debt [member]
Federal Home Loan Bank Advances Branch Of F H L B Bank [Line Items]
Weighted average interest rate	2.21%	2.21%
Interest rate type	Fixed	Fixed
short term debt [member]
Federal Home Loan Bank Advances Branch Of F H L B Bank [Line Items]
Weighted average interest rate	0.59%	1.83%
Interest rate type	Fixed	Fixed

X

- Definition Describes the basis for the interest rate (floating or fixed) applicable to the Federal Home Loan Bank advances of the entity as of Balance Sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6479118&loc=d3e64650-112822 + Details Name: us-gaap_FederalHomeLoanBankAdvancesBranchOfFHLBBankInterestRateType Namespace Prefix: us-gaap_ Data Type: us-types:interestRateItemType Balance Type: na Period Type: instant

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- Definition Weighted average interest rate on advances made and reported by Federal Home Loan Bank (FHLBank). + References No definition available. + Details Name: us-gaap_FederalHomeLoanBankAdvancesWeightedAverageInterestRate Namespace Prefix: us-gaap_ Data Type: num:percentItemType Balance Type: na Period Type: instant

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v3.20.1

REVENUE FROM CONTRACTS WITH CUSTOMERS	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
REVENUE FROM CONTRACTS WITH CUSTOMER [Text Block]	NOTE 25 – REVENUE FROM CONTRACTS WITH CUSTOMERS   Revenue Recognition   In accordance with ASC Topic 606, “Revenues from Contracts with Customers,” revenues are recognized when control of promised goods or services is transferred to customers and in an amount that reflects the consideration to which the Corporation expects to be entitled in exchange for those goods or services. To determine revenue recognition for arrangements that an entity determines are within the scope of ASC Topic 606, the Corporation performs the following five steps: (i) identifies the contract(s) with a customer; (ii) identifies the performance obligations in the contract; (iii) determines the transaction price; (iv) allocates the transaction price to the performance obligations in the contract; and (v) recognizes revenue when (or as) the Corporation satisfies a performance obligation. The Corporation only applies the five-step model to contracts when it is probable that the entity will collect the consideration to which it is entitled in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC Topic 606, the Corporation assesses the goods or services that are promised within each contract, identifies those that contain performance obligations, and assesses whether each promised good or service is distinct. The Corporation then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied.   Disaggregation of Revenue   The following table summarizes the Corporation’s revenue, which includes net interest income on financial instruments and non-interest income, disaggregated by type of service and business segments for the quarters ended March 31, 2020 and 2019: (In thousands) Mortgage Banking   Consumer (Retail) Banking   Commercial and Corporate   Treasury and Investments   United States Operations   Virgin Islands Operations   Total For the quarter ended March 31, 2020:                                         Net interest income (1) $ 17,058   $ 57,744   $ 23,581   $ 19,875   $ 13,785   $ 6,606   $ 138,649 Service charges and fees on deposit accounts   -     3,483     1,564     -     168     742     5,957 Insurance commissions   -     4,376     -     -     4     202     4,582 Merchant-related income   -     750     -     -     -     149     899 Credit and debit card fees   -     4,217     17     -     10     422     4,666 Other service charges and fees   74     617     412     -     418     147     1,668 Not in scope of Topic 606 (1)   3,566     285     18     8,328     231     -     12,428 Total non-interest income   3,640     13,728     2,011     8,328     831     1,662     30,200 Total Revenue $ 20,698   $ 71,472   $ 25,592   $ 28,203   $ 14,616   $ 8,268   $ 168,849                                             (In thousands) Mortgage Banking   Consumer (Retail) Banking   Commercial and Corporate   Treasury and Investments   United States Operations   Virgin Islands Operations   Total For the quarter ended March 31, 2019:                                         Net interest income (1) $ 17,749   $ 61,534   $ 20,933   $ 16,795   $ 16,209   $ 6,961   $ 140,181 Service charges and fees on deposit accounts   -     3,524     1,324     -     136     732     5,716 Insurance commissions   -     4,066     -     -     11     173     4,250 Merchant-related income   -     834     196     -     -     264     1,294 Credit and debit card fees   -     4,398     320     -     169     516     5,403 Other service charges and fees   44     843     426     -     133     82     1,528 Not in scope of Topic 606 (1)   3,562     342     252     74     84     38     4,352 Total non-interest income   3,606     14,007     2,518     74     533     1,805     22,543 Total Revenue $ 21,355   $ 75,541   $ 23,451   $ 16,869   $ 16,742   $ 8,766   $ 162,724 Most of the Corporation’s revenue is not within the scope of ASC Topic 606. The guidance explicitly excludes net interest income from financial assets and liabilities, as well as other non-interest income from loans, leases, investment securities and derivative financial instruments. For the quarters ended March 31, 2020 and 2019, substantially all of the Corporation’s revenue within the scope of ASC Topic 606 was related to performance obligations satisfied at a point in time.   The following is a discussion of revenues under the scope of ASC Topic 606.   Service Charges and Fees on Deposit Accounts   Service charges and fees on deposit accounts relate to fees generated from a variety of deposit products and services rendered to customers. Charges include, but are not limited to, overdraft fees, non-sufficient fund fees, dormant fees and monthly service charges. Such fees are recognized concurrently with the event on a daily basis or on a monthly basis depending upon the customer’s cycle date. These depository arrangements are considered day-to-day contracts that do not extend beyond the services performed, as customers have the right to terminate these contracts with no penalty or, if any, nonsubstantive penalties.   Insurance Commissions For insurance commissions, which include regular and contingent commissions paid to the Corporation’s insurance agency, the agreements contain a performance obligation related to the sale/issuance of the policy and ancillary administrative post-issuance support. The performance obligations are satisfied when the policies are issued, and revenue is recognized at that point in time. In addition, contingent commission income may be considered to be constrained, as defined under ASC Topic 606. Contingent commission income is included in the transaction price only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur or payments are received. For the quarters ended March 31, 2020 and 2019, respectively, the Corporation recognized revenue of $3.1 million and $2.7 million, respectively, at the time that payments were confirmed and constraints were released.   Merchant-related Income   For merchant-related income, the determination of which included the consideration of a 2015 sale of merchant contracts that involved sales of point of sale (“POS”) terminals and entry into a marketing alliance under a revenue-sharing agreement, the Corporation concluded that control of the POS terminals and merchant contracts was transferred to the customer at the contract’s inception. With respect to the related revenue-sharing agreement, the Corporation satisfies the marketing alliance performance obligation over the life of the contract, and recognizes the associated transaction price as the entity performs and any constraints over the variable consideration are resolved.   Credit and Debit Card Fees   Credit and debit card fees primarily represent revenues earned from interchange fees and ATM fees. Interchange and network revenues are earned on credit and debit card transactions conducted with payment networks. ATM fees are primarily earned as a result of surcharges assessed to non-FirstBank customers who use a FirstBank ATM. Such fees are generally recognized concurrently with the delivery of services on a daily basis.   Other Fees   Other fees primarily include revenues generated from wire transfers, lockboxes, and bank issuances of checks. The Corporation recognizes such fees concurrently with the event or on a monthly basis.     Contract Balances   A contract liability is an entity’s obligation to transfer goods or services to a customer in exchange for consideration from the customer. During 2019, the Bank entered into a growth agreement with an international card service association to expand the customer base and enhance product offerings. The contract requires the Bank to either launch a new debit card product by March 30, 2021 or maintain a ratio of over 50% of the portfolio with the related card service association by the end of year 2021. In connection with this agreement, the Corporation recognized a contract liability as the revenue is constrained to the fulfillment of either of the above conditions. In addition, as discussed above, during 2015, the Bank entered into a long-term strategic marketing alliance under a revenue-sharing agreement with another entity to which the Bank sold its merchant contracts portfolio and related POS terminals. Merchant services are marketed through FirstBank’s branches and offices in Puerto Rico and the Virgin Islands. Under the revenue-sharing agreement, FirstBank shares with this entity revenues generated by the merchant contracts over the term of the 10-year agreement. As of March 31, 2020 and March 31, 2019, this contract liability amounted to $2.4 million and $2.0 million, respectively, which will be recognized over the remaining term of the contract. For each of the quarters ended March 31, 2020 and 2019, the Corporation recognized revenue and its contract liabilities decreased by approximately $0.1 million, due to the completion of performance over time. There were no changes in contract liabilities due to changes in transaction price estimates.   A contract asset is the right to consideration for transferred goods or services when the amount is conditioned on something other than the passage of time. As of March 31, 2020 and March 31, 2019, there were no contract assets from contracts with customers or contract assets recorded on the Corporation’s consolidated financial statements.   The following table shows the activity of contract liabilities for the quarters ended March 31, 2020 and 2019:   (In thousands) March 31, 2020   March 31, 2019 Beginning Balance $ 2,476   $ 2,071 Less:           Amortizations   (81)     (81) Ending balance $ 2,395   $ 1,990 Other   Except for the contract liabilities noted above, the Corporation did not have any significant performance obligations as of March 31, 2020. The Corporation also did not have any material contract acquisition costs and did not make any significant judgments or estimates in recognizing revenue for financial reporting purposes.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 + Details Name: us-gaap_RevenueFromContractWithCustomerTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

v3.20.1

OTHER BORROWINGS - Components of Other Borrowings (Parenthetical) (Detail) - Junior Subordinated Debt [Member] - London Interbank Offered Rate (LIBOR) [Member]	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
due June 17, 2034 [Member] | Statutory Trust One [Member]
Subordinated Borrowing [Line Items]
Floating Interest rate on junior subordinated debentures	3.59%	4.65%
Callable step-rate notes rate	2.75%
Debt Instrument Description Of Variable Rate Basis	3-month LIBOR
Subordinated Borrowing Due Date	Jun. 17, 2034
due September 20, 2034 [Member] | Statutory Trust Two [Member]
Subordinated Borrowing [Line Items]
Floating Interest rate on junior subordinated debentures	3.62%	4.41%
Callable step-rate notes rate	2.50%
Debt Instrument Description Of Variable Rate Basis	3-month LIBOR
Subordinated Borrowing Due Date	Sep. 20, 2034

X

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- Definition The reference rate for the variable rate of the debt instrument, such as LIBOR or the US Treasury rate and the maturity of the reference rate used, such as three months or six months LIBOR. + References No definition available. + Details Name: us-gaap_DebtInstrumentDescriptionOfVariableRateBasis Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

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- Definition The interest rate applicable to the portion of the carrying amount of long-term borrowings outstanding as of the balance sheet date, including current maturities, which accrues interest at a rate subject to change from time to time. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details Name: us-gaap_LongTermDebtPercentageBearingVariableInterestRate Namespace Prefix: us-gaap_ Data Type: num:percentItemType Balance Type: na Period Type: instant

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v3.20.1

SEGMENT INFORMATION - Information about reportable segments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Segment Reporting Information [Line Items]
Interest Income	$ 165,264	$ 166,472
Interest expense	(26,615)	(26,291)
Net interest income	138,649	140,181
Provision for credit losses	(77,366)	(11,408)
Non-interest income	30,200	22,543
Commercial And Corporate Banking Segment [Member]
Segment Reporting Information [Line Items]
Net interest income	23,581	20,933
Non-interest income	2,011	2,518
Treasury And Investments Segment [Member]
Segment Reporting Information [Line Items]
Net interest income	19,875	16,795
Non-interest income	8,328	74
United States Operations Segment [Member]
Segment Reporting Information [Line Items]
Net interest income	13,785	16,209
Non-interest income	831	533
Virgin Islands Operations Segment [Member]
Segment Reporting Information [Line Items]
Net interest income	6,606	6,961
Non-interest income	1,662	1,805
Operating Segments [Member]
Segment Reporting Information [Line Items]
Interest Income	165,264	166,472
Net (charge) credit for transfer of funds	0	0
Interest expense	(26,615)	(26,291)
Net interest income	138,649	140,181
Provision for credit losses	(77,366)	(11,408)
Non-interest income	30,200	22,543
Direct non-interest expenses	(62,211)	(64,111)
Segment income (loss)	29,272	87,205
Average earnings assets	11,841,095	11,280,192
Operating Segments [Member] | Mortgage Banking Segment [Member]
Segment Reporting Information [Line Items]
Interest Income	28,800	30,857
Net (charge) credit for transfer of funds	(11,742)	(13,108)
Interest expense	0	0
Net interest income	17,058	17,749
Provision for credit losses	(15,201)	(6,412)
Non-interest income	3,640	3,606
Direct non-interest expenses	(8,499)	(8,481)
Segment income (loss)	(3,002)	6,462
Average earnings assets	2,012,906	2,188,093
Operating Segments [Member] | Consumer (Retail) Banking Segment [Member]
Segment Reporting Information [Line Items]
Interest Income	58,096	49,975
Net (charge) credit for transfer of funds	10,030	19,662
Interest expense	(10,382)	(8,103)
Net interest income	57,744	61,534
Provision for credit losses	(32,153)	(9,412)
Non-interest income	13,728	14,007
Direct non-interest expenses	(29,476)	(29,404)
Segment income (loss)	9,843	36,725
Average earnings assets	2,131,502	1,824,240
Operating Segments [Member] | Commercial And Corporate Banking Segment [Member]
Segment Reporting Information [Line Items]
Interest Income	32,636	37,387
Net (charge) credit for transfer of funds	(9,055)	(16,454)
Interest expense	0	0
Net interest income	23,581	20,933
Provision for credit losses	(19,175)	8,462
Non-interest income	2,011	2,518
Direct non-interest expenses	(7,047)	(9,401)
Segment income (loss)	(630)	22,512
Average earnings assets	2,420,069	2,499,709
Operating Segments [Member] | Treasury And Investments Segment [Member]
Segment Reporting Information [Line Items]
Interest Income	16,066	16,249
Net (charge) credit for transfer of funds	11,491	11,250
Interest expense	(7,682)	(10,704)
Net interest income	19,875	16,795
Provision for credit losses	(1,502)	0
Non-interest income	8,328	74
Direct non-interest expenses	(763)	(723)
Segment income (loss)	25,938	16,146
Average earnings assets	2,877,104	2,392,467
Operating Segments [Member] | United States Operations Segment [Member]
Segment Reporting Information [Line Items]
Interest Income	22,155	24,157
Net (charge) credit for transfer of funds	(724)	(1,350)
Interest expense	(7,646)	(6,598)
Net interest income	13,785	16,209
Provision for credit losses	(6,564)	(4,364)
Non-interest income	831	533
Direct non-interest expenses	(8,991)	(8,362)
Segment income (loss)	(939)	4,016
Average earnings assets	1,944,385	1,902,771
Operating Segments [Member] | Virgin Islands Operations Segment [Member]
Segment Reporting Information [Line Items]
Interest Income	7,511	7,847
Net (charge) credit for transfer of funds	0	0
Interest expense	(905)	(886)
Net interest income	6,606	6,961
Provision for credit losses	(2,771)	318
Non-interest income	1,662	1,805
Direct non-interest expenses	(7,435)	(7,740)
Segment income (loss)	(1,938)	1,344
Average earnings assets	$ 455,129	$ 472,912

X

- Definition Direct non-interest expenses. + References No definition available. + Details Name: fbp_DirectNonInterestExpenses Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition Amount charged or credited by reportable segments based on market interest rates. + References No definition available. + Details Name: fbp_NetChargeCreditForTransferOfFunds Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition Amount of average earning assets attributed to the reportable segment. + References No definition available. + Details Name: fbp_SegmentReportingInformationAverageEarningAssets Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)(1)(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details Name: us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition Represents the total of interest and dividend income, including any amortization and accretion (as applicable) of discounts and premiums, earned from (1) loans and leases whether held-for-sale or held-in-portfolio; (2) investment securities; (3) federal funds sold; (4) securities purchased under agreements to resell; (5) investments in banker's acceptances, commercial paper, or certificates of deposit; (6) dividend income; or (7) other investments not otherwise specified herein. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.1-5) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 + Details Name: us-gaap_InterestAndDividendIncomeOperating Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition Amount of the cost of borrowed funds accounted for as interest expense. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6450988&loc=d3e26243-108391 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28555-108399 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (210.5-03(11)) -URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.9) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 + Details Name: us-gaap_InterestExpense Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition The net amount of operating interest income (expense). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.10) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 + Details Name: us-gaap_InterestIncomeExpenseNet Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition The total amount of noninterest income which may be derived from: (1) fees and commissions; (2) premiums earned; (3) insurance policy charges; (4) the sale or disposal of assets; and (5) other sources not otherwise specified. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.13) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 + Details Name: us-gaap_NoninterestIncome Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition Amount of expense related loan transactions, lease transactions, credit loss from transactions other than loan and lease transactions, and other loss based on assessment of uncollectability from the counterparty to reduce the account to their net realizable value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953423-111524 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.11) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 + Details Name: us-gaap_ProvisionForLoanLeaseAndOtherLosses Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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v3.20.1

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (Tables)	3 Months Ended
	Mar. 31, 2020
Disclosure of Repurchase Agreements [Abstract]
Securities Sold Under Agreements to Repurchase [Table text Block]	Securities sold under agreements to repurchase (repurchase agreements) as of the dates indicated consisted of the following:               March, 31   December 31,     2020   2019 (In thousands)                         Long-term repurchase agreement (1) (2) $ 300,000   $ 100,000               Repurchase agreements mature as follows as of the indicated date:       March 31, 2020   (In thousands)                 Over one year to three years   $ 100,000   Over three years to five years     200,000   Total   $ 300,000                     Repurchase agreements as of March 31, 2020, grouped by counterparty, were as follows:                               (Dollars in thousands)         Weighted-Average   Counterparty   Amount   Maturity (In Months)                 JP Morgan Chase   $ 100,000   23   Credit Suisse First Boston     200,000   58       $ 300,000

X

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v3.20.1

FAIR VALUE (Tables)	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on Recurring Basis [Table Text Block]	Assets and liabilities measured at fair value on a recurring basis are summarized below as of March 31, 2020 and December 31, 2019:                                                       As of March 31, 2020   As of December 31, 2019     Fair Value Measurements Using   Fair Value Measurements Using   (In thousands) Level 1   Level 2   Level 3   Assets/Liabilities at Fair Value   Level 1   Level 2   Level 3   Assets/Liabilities at Fair Value                                                   Assets:                                               Securities available for sale :                                               U.S. Treasury Securities $ 7,582   $ -   $ -   $ 7,582   $ 7,479   $ -   $ -   $ 7,479 Noncallable U.S. agency debt securities   -     146,154     -     146,154     -     146,777     -     146,777 Callable U.S. agencies                                               debt securities and MBS   -     1,760,312     -     1,760,312     -     1,950,331     -     1,950,331 Puerto Rico government obligations   -     4,361     2,969     7,330     -     4,348     2,974     7,322 Private label MBS   -     -     10,300     10,300     -     -     11,116     11,116 Other investments   -     -     500     500     -     -     500     500 Equity securities   1,458     -     -     1,458     1,428     -     -     1,428 Derivatives, included in assets:                                               Purchased interest rate cap agreements   -     9     -     9     -     11     -     11 Interest rate lock commitments   -     303     -     303     -     341     -     341 Forward loan sales commitments   -     20     -     20     -     20     -     20 Liabilities:                                               Derivatives, included in liabilities:                                               Written interest rate cap agreements   -     9     -     9     -     11     -     11 Forward contracts   -     803     -     803     -     138     -     138
Fair Value of Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Quarter ended March 31,     2020   2019 Level 3 Instruments Only Securities   Securities (In thousands) Available For Sale(1)   Available For Sale(1)               Beginning balance $ 14,590     17,238 Total (losses) gains (realized/unrealized):           Included in other comprehensive income   240     (23) Included in earnings   (368)     - Principal repayments and amortization   (693)     (509) Ending balance $ 13,769   $ 16,706
Schedule Of Changes In Unrealized Gains Losses [Table Text Block]	Changes in Unrealized Losses Level 3 Instruments Only Quarter ended March 31, (In thousands) 2020   2019 Changes in unrealized losses relating to assets still held at reporting date:           Provision for credit losses $ (368)   $ -
Impairment or Valuation Adjustments were Recorded for Assets Recognized at Fair Value [Table Text Block]	As of March 31, 2020, the Corporation recorded losses or valuation adjustments for assets recognized at fair value on a non-recurring basis as shown in the following table:                               Carrying value as of March 31, 2020   Losses recorded for the Quarter Ended March 31, 2020     Level 1   Level 2   Level 3       (In thousands)                                                 Loans receivable (1) $ -   $ -   $ 291,856   $ (6,393) OREO (2)   -     -     99,674     (654)                           As of March 31, 2019, the Corporation recorded losses or valuation adjustments for assets recognized at fair value on a non-recurring basis as shown in the following table:                               Carrying value as of March 31, 2019   Losses recorded for the Quarter Ended March 31, 2019     Level 1   Level 2   Level 3       (In thousands)                                                                           Loans receivable (1) $ -   $ -   $ 366,773   $ (8,863) OREO (2)   -     -     129,716     (2,643) Loans held for sale (3)   -     -     7,381     -
Estimated Fair Value and Carrying Value of Financial Instruments [Table Text Block]	The following tables present the carrying value, estimated fair value and estimated fair value level of the hierarchy of financial instruments as of March 31, 2020 and December 31, 2019:                                 Total Carrying Amount in Statement of Financial Condition March 31, 2020   Fair Value Estimate March 31, 2020   Level 1   Level 2   Level 3 (In thousands)                                                           Assets:                             Cash and due from banks and money                             market investments (amortized cost) $ 1,087,715   $ 1,087,715   $ 1,087,715   $ -   $ - Investment securities available                             for sale (fair value)   1,932,178     1,932,178     7,582     1,910,827     13,769 Investment securities held to maturity (amortized cost)   138,534                         Less: allowance for credit losses on                             held to maturity debt securities   (9,268)                         Investment securities held to maturity, net of allowance $ 129,266     111,162     -     -     111,162 Equity Securities (fair value)   39,630     39,630     1,458     38,172     - Loans held for sale (lower of cost or market)   12,046     12,445     -     12,445     - Loans held for investment (amortized cost)   9,038,947                         Less: allowance for credit losses for loans and finance leases   (292,774)                         Loans held for investment, net of allowance $ 8,746,173     8,711,957     -     -     8,711,957 Derivatives, included in assets (fair value)   332     332     -     332     -                               Liabilities:                             Deposits (amortized cost)   9,562,313     9,602,663     -     9,602,663     - Loans payable (amortized cost)   60,000     60,000     -     60,000     - Securities sold under agreements                             to repurchase (amortized cost)   300,000     331,551     -     331,551     - Advances from FHLB (amortized cost)   565,000     576,096     -     576,096     - Other borrowings (amortized cost)   184,150     156,193     -     -     156,193 Derivatives, included in liabilities (fair value)   812     812     -     812     -   Total Carrying Amount in Statement of Financial Condition December 31, 2019   Fair Value Estimate December 31, 2019   Level 1   Level 2   Level 3 (In thousands)                                                           Assets:                             Cash and due from banks and money                             market investments (amortized cost) $ 644,099   $ 644,099   $ 644,099   $ -   $ - Investment securities available                             for sale (fair value)   2,123,525     2,123,525     7,479     2,101,456     14,590 Investment securities held to maturity (amortized cost)   138,675     110,374     -     -     110,374 Equity securities (fair value)   38,249     38,249     1,428     36,821     - Loans held for sale (lower of cost or market)   39,477     40,234     -     40,234     - Loans held for investment (amortized cost)   9,002,205                         Less: allowance for credit losses for loans and finance leases   (155,139)                         Loans held for investment, net of allowance $ 8,847,066     8,715,144     -     -     8,715,144 Derivatives, included in assets (fair value)   372     372     -     372     -                               Liabilities:                             Deposits (amortized cost)   9,348,429     9,372,591     -     9,372,591     - Securities sold under agreements                             to repurchase (amortized cost)   100,000     120,020     -     120,020     - Advances from FHLB (amortized cost)   570,000     578,498     -     578,498     - Other borrowings (amortized cost)   184,150     180,577     -     -     180,577 Derivatives, included in liabilities (fair value)   149     149     -     149     -
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]	Qualitative information regarding the fair value measurements for Level 3 financial instruments as of March 31, 2020 are as follows:           March 31, 2020   Method   Inputs Loans Income, Market, Comparable Sales, Discounted Cash Flows   External appraised values; probability weighting of broker price opinions; management assumptions regarding market trends or other relevant factors OREO Income, Market, Comparable Sales, Discounted Cash Flows   External appraised values; probability weighting of broker price opinions; management assumptions regarding market trends or other relevant factors
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]	The table below presents qualitative information for significant assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as of March 31, 2020 and December 31, 2019:                           March 31, 2020                 Range   Weighted Average (In thousands) Fair Value   Valuation Technique   Unobservable Input   Minimum Maximum                           Investment securities available-for-sale:       Private label MBS $ 10,300   Discounted cash flows   Discount rate   12.7% 12.7%   12.7%             Prepayment rate   6.8% 10.3%   7.9%             Projected Cumulative Loss Rate   2.6% 20.7%   8.9% Puerto Rico government obligations   2,969   Discounted cash flows   Discount rate   8.1% 8.1%   8.1%   Prepayment rate   3.0% 3.0%   3.0%                                                                           December 31, 2019                 Range   Weighted (In thousands) Fair Value   Valuation Technique   Unobservable Input   Minimum Maximum   Average                         Investment securities available-for-sale:       Private label MBS $ 11,116   Discounted cash flows   Discount rate   13.7% 13.7%   13.7%             Prepayment rate   6.8% 10.3%   7.9%             Projected Cumulative Loss Rate   0.0% 7.4%   2.8% Puerto Rico government obligations   2,974   Discounted cash flows   Discount rate   6.9% 6.9%   6.9%   Prepayment rate   3.0% 3.0%   3.0%

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details Name: us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details Name: us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique used to measure similar asset in prior period by class of asset or liability on non-recurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details Name: us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisValuationTechniquesTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details Name: us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details Name: us-gaap_FairValueByBalanceSheetGroupingTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details Name: us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

v3.20.1

REVENUE FROM CONTACTS WITH CUSTOMERS - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Revenue from External Customer [Line Items]
Contract liability	$ 2,395	$ 1,990	$ 2,476	$ 2,071
Total Revenue	168,849	162,724
Decrease in Contract with Customer, Liability	(100)	(100)
Insurance commissions [Member]
Revenue from External Customer [Line Items]
Total Revenue	$ 3,100	$ 2,700

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- Definition Amount of obligation to transfer good or service to customer for which consideration has been received or is receivable. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118944033&loc=SL49130531-203044 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 8 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118956577&loc=SL49130549-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=118944033&loc=SL49130532-203044 + Details Name: us-gaap_ContractWithCustomerLiability Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition Amount of increase (decrease) in obligation to transfer good or service to customer for which consideration has been received or is receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 + Details Name: us-gaap_IncreaseDecreaseInContractWithCustomerLiability Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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v3.20.1

FIRST BANCORP. (Holding Company Only) Financial Information - Statements of Financial Condition (Unaudited) (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
ASSETS
Cash and due from banks	$ 990,007	$ 546,391	$ 581,838
Money market investments	97,708	97,708	7,737
Other investment securities	39,630	38,249
Other assets	494,178	213,513
Total assets	13,047,977	12,611,266
Liabilities:
Other borrowings	184,150	184,150
Accounts payable and other liabilities	176,763	180,614
Total liabilities	10,848,226	10,383,193
Stockholders Equity	2,199,751	2,228,073	$ 2,100,457
Total liabilities and stockholders' equity	13,047,977	12,611,266
Holding Company [Member]
ASSETS
Cash and due from banks	16,028	16,895
Money market investments	6,211	6,211
Other investment securities	285	285
Other assets	782	509
Total assets	2,389,603	2,416,601
Liabilities:
Other borrowings	184,150	184,150
Accounts payable and other liabilities	5,702	4,378
Total liabilities	189,852	188,528
Stockholders Equity	2,199,751	2,228,073
Total liabilities and stockholders' equity	2,389,603	2,416,601
Holding Company [Member] | Investment in First Bank Puerto Rico, at equity [Member]
ASSETS
Equity Method Investments	2,331,941	2,362,182
Holding Company [Member] | Investment in First Bank Insurance Agency, at equity
ASSETS
Equity Method Investments	28,832	24,995
Holding Company [Member] | Statutory Trust One [Member]
ASSETS
Equity Method Investments	1,963	1,963
Holding Company [Member] | Statutory Trust Two [Member]
ASSETS
Equity Method Investments	$ 3,561	$ 3,561

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- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(11)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(12)) -URI http://asc.fasb.org/extlink&oid=119400593&loc=d3e572229-122910 + Details Name: us-gaap_Assets Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition For banks and other depository institutions: Includes cash on hand (currency and coin), cash items in process of collection, noninterest bearing deposits due from other financial institutions (including corporate credit unions), and noninterest bearing balances with the Federal Reserve Banks, Federal Home Loan Banks and central banks. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(1)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details Name: us-gaap_CashAndDueFromBanks Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Amount of Equity in net profit and loss for the period. Give totals for each group. If operations of any controlled companies are different in character from those of the company, group such affiliates (1) within divisions and (2) by type of activities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 6 -Subparagraph (SX 210.12-14(Column C)) -URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611322-123010 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 6 -Subparagraph (SX 210.12-14(2)) -URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611322-123010 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 6 -Subparagraph (SX 210.12-14(6)) -URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611322-123010 + Details Name: us-gaap_InvestmentsInAndAdvancesToAffiliatesAmountOfEquity Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Including the current and noncurrent portions, the carrying value of junior subordinated long-term debt owed to unconsolidated subsidiary trusts as of the balance sheet date. Such debt places a lender in a lien position behind debt having a higher priority of repayment in liquidation of the entity's assets and was initially scheduled to be repaid after one year or beyond the normal operating cycle if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.16) -URI http://asc.fasb.org/extlink&oid=119400593&loc=d3e572229-122910 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.16) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details Name: us-gaap_JuniorSubordinatedDebentureOwedToUnconsolidatedSubsidiaryTrust Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19-26) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details Name: us-gaap_Liabilities Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(23)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(25)) -URI http://asc.fasb.org/extlink&oid=119400593&loc=d3e572229-122910 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(32)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details Name: us-gaap_LiabilitiesAndStockholdersEquity Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition Amount of assets classified as other. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(17)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(10)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(10)) -URI http://asc.fasb.org/extlink&oid=119400593&loc=d3e572229-122910 + Details Name: us-gaap_OtherAssets Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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v3.20.1

LOANS HELD FOR INVESTMENT - Loan Portfolio Held for Investment (Parenthetical) (Detail) - Loans held for investmet [Member] - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Financing Receivable, before Allowance for Credit Loss	$ 9,038,947	$ 9,002,205
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, before Allowance for Credit Loss	2,236,218	2,230,876
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Commercial loans secured by real estate
Financing Receivable, before Allowance for Credit Loss	$ 712,600	$ 719,000

X

- Definition Amount, before allowance for credit loss, of financing receivable. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 5 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919230-210447 + Details Name: us-gaap_NotesReceivableGross Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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v3.20.1

INVESTMENT SECURITIES - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Schedule Of Investments [Line Items]
Gain on Sale of Investments	$ 8,247,000	$ 0
Fair value	1,932,178,000		$ 2,123,525,000
Gross Unrealized loss	6,562,000		10,056,000
Allowance for Credit Losse, Available-for-sale securities	368,000		0
Allowance for Credit Losse, Held-to-maturity securities	9,268,000		0
Debt Securities, Held-to-maturity, Past Due	$ 0
Debt Securities, Held-to-maturity, Threshold Period Past Due	30 days
Municipal Bonds [Member] | Puerto Rico [Member]
Schedule Of Investments [Line Items]
Allowance for Credit Losse, Held-to-maturity securities	$ 9,268,000		0
Held to Maturity Amortized cost	138,534,000		138,675,000
Cash and Cash Equivalents [Member]
Schedule Of Investments [Line Items]
Held to Maturity Amortized cost	0		0
MBS [Member]
Schedule Of Investments [Line Items]
Proceeds From Sale Of Available For Sale Securities	275,600,000
Gain on Sale of Investments	8,200,000
Fair value	1,569,625,000		1,783,504,000
Gross Unrealized loss	5,342,000		8,440,000
Allowance for Credit Losse, Available-for-sale securities	368,000
MBS [Member] | Private label [Member]
Schedule Of Investments [Line Items]
Fair value	10,300,000
Gross Unrealized loss	4,700,000
Allowance for Credit Losse, Available-for-sale securities	368,000		$ 0
Puerto Rico Government obligations [Member]
Schedule Of Investments [Line Items]
Fair value	7,300,000
Net Unrealized loss	800,000
Puerto Rico Government obligations [Member] | Residential Mortgage Backed Securities [Member]
Schedule Of Investments [Line Items]
Fair value	3,000,000.0
Gross Unrealized loss	$ 1,100,000
Available-for-sale Securities [Member]
Schedule Of Investments [Line Items]
Percentage Of Debt Securities Government And Government Sponsored Agencies	99.00%
Available-for-sale Securities [Member] | MBS [Member] | Private label [Member]
Schedule Of Investments [Line Items]
Provision for Other Credit Losses	$ 368,000
Available-for-sale Securities [Member] | MBS [Member] | Private label [Member] | FICO Score, Greater than 700 [Member] | LTV Less than 80 Percent [Member]
Schedule Of Investments [Line Items]
Financing Receivable, Credit Quality, Additional Information	The underlying collateral are fixed-rate, single-family residential mortgage loans in the United State with original FICO scores over 700 and moderate loan-to-value ratios (under 80%), as well as moderate delinquency levels.
Available-for-sale Securities [Member] | MBS [Member] | Private label [Member] | LIBOR [Member]
Schedule Of Investments [Line Items]
Loans Receivable, Description of Variable Rate Basis	The interest rate on these private-label MBS is variable, tied to 3-month LIBOR and limited to the weighted-average coupon on the underlying collateral.
Held-to-maturity Securities [Member] | Municipal Bonds [Member] | Puerto Rico [Member]
Schedule Of Investments [Line Items]
Provision for Other Credit Losses	$ 1,134,000

X

- Definition Amount before tax of unrealized loss in accumulated other comprehensive income (AOCI) on investments in debt and equity securities classified as available-for-sale, net. + References No definition available. + Details Name: fbp_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTaxNet Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Percentage of total US government and sponsored agencies securities in relation to total available for sale investment securities. + References No definition available. + Details Name: fbp_PercentageOfDebtSecuritiesGovernmentAndGovernmentSponsoredAgencies Namespace Prefix: fbp_ Data Type: num:percentItemType Balance Type: na Period Type: instant

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- Definition Amount of allowance for credit loss on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 50 -Paragraph 9 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118955579&loc=SL82922900-210455 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 50 -Paragraph 9 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=118955579&loc=SL82922900-210455 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (aaa) -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27161-111563 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118942338&loc=SL82898722-210454 + Details Name: us-gaap_DebtSecuritiesAvailableForSaleAllowanceForCreditLoss Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition Amount of investment in debt security measured at amortized cost (held-to-maturity), past due. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919253-210447 + Details Name: us-gaap_DebtSecuritiesHeldToMaturityPastDue Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Threshold period for when investment in debt security measured at amortized cost (held-to-maturity) is considered past due, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Excludes threshold period past due to write off as uncollectible. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919253-210447 + Details Name: us-gaap_DebtSecuritiesHeldToMaturityThresholdPeriodPastDue Namespace Prefix: us-gaap_ Data Type: xbrli:durationItemType Balance Type: na Period Type: instant

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X

- Details Name: us-gaap_InformationByCategoryOfDebtSecurityAxis=us-gaap_AvailableforsaleSecuritiesMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_CreditScoreFicoAxis=us-gaap_FicoScoreGreaterThan700Member Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_LoanToValueAxis=us-gaap_LtvLessThan80PercentMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_VariableRateAxis=us-gaap_LondonInterbankOfferedRateLIBORMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_InformationByCategoryOfDebtSecurityAxis=us-gaap_HeldtomaturitySecuritiesMember Namespace Prefix: Data Type: na Balance Type: Period Type:

v3.20.1

STOCK-BASED COMPENSATION - Performance Units - Additional Information (Detail) - Omnibus Plan [Member] - Performance Shares [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 0.3	$ 0.1
Unrecognized compensation cost related to unvested performance units	$ 4.1
Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted performance units	502,307	200,053
Requisite service period	3 years	3 years
Performance Units Program Description	The performance units will vest based on the achievement of a pre-established tangible book value per share target as of December 31, 2022. All of the performance units will vest if performance is at the pre-established performance target level or above. However, the participants may vest with respect to 50% of the awards to the extent that performance is below the target but at 80% of the pre-established performance target level (the “80% minimum threshold”), which is measured based upon the growth in the tangible book value during the performance cycle. If performance is between the 80% minimum threshold and the pre-established performance target level, the participants will vest on a proportional amount. No performance units will vest if performance is below the 80% minimum threshold.

X

- Definition Amount of expense for award under share-based payment arrangement. Excludes amount capitalized. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=115993241&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1)(i) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details Name: us-gaap_AllocatedShareBasedCompensationExpense Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

X

- Definition Amount of cost not yet recognized for nonvested award under share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details Name: us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Period over which grantee's right to exercise award under share-based payment arrangement is no longer contingent on satisfaction of service or performance condition, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Includes, but is not limited to, combination of market, performance or service condition. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details Name: us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1 Namespace Prefix: us-gaap_ Data Type: xbrli:durationItemType Balance Type: na Period Type: duration

X

- Definition Description of service or performance condition required to be met for earning right to award under share-based payment arrangement. Includes, but is not limited to, combination of market, performance or service condition. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details Name: us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingRights Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

X

- Definition The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2)(iii)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details Name: us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod Namespace Prefix: us-gaap_ Data Type: xbrli:sharesItemType Balance Type: na Period Type: duration

X

- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details Name: us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

X

- Details Name: us-gaap_PlanNameAxis=fbp_OmnibusPlanMember Namespace Prefix: Data Type: na Balance Type: Period Type:

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- Details Name: us-gaap_AwardTypeAxis=us-gaap_PerformanceSharesMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: srt_TitleOfIndividualAxis=srt_ExecutiveOfficerMember Namespace Prefix: Data Type: na Balance Type: Period Type:

v3.20.1

INVESTMENT SECURITIES - ACL for Debt Securities Held-to-Maturity (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Jan. 01, 2020
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Beginning Balance	$ 0
Ending Balance	9,268
Municipal Bonds [Member] | PUERTO RICO
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Beginning Balance	0
Ending Balance	9,268
Municipal Bonds [Member] | PUERTO RICO | ASC 326
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Ending Balance	9,300
Municipal Bonds [Member] | PUERTO RICO | ASC 326 | Cumulative Effect Period Of Adoption Adjustment [Member]
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Impact of adopting ASC 326 on Held-to-maturity securities		$ 8,134
Municipal Bonds [Member] | PUERTO RICO | Held-to-maturity Securities [Member]
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Provision for Other Credit Losses	$ 1,134

X

- Definition Impact of new accounting Principle in allowance for credit losses of held to maturity secutities. + References No definition available. + Details Name: fbp_DebtSecuritiesHeldToMaturityAllowanceForCreditLossImpactNewAccountingPrincipleInPeriodOfAdoption Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Amount of allowance for credit loss for debt security measured at amortized cost (held-to-maturity). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -Subparagraph (aaa) -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27232-111563 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118955202&loc=SL82895884-210446 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 + Details Name: us-gaap_DebtSecuritiesHeldToMaturityAllowanceForCreditLoss Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details Name: us-gaap_DebtSecuritiesHeldtomaturityAllowanceForCreditLossLineItems Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

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- Definition Amount of expense related to credit loss from transactions other than loan and lease transactions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(11)) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 + Details Name: us-gaap_ProvisionForOtherCreditLosses Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Details Name: us-gaap_InformationByCategoryOfDebtSecurityAxis=us-gaap_HeldtomaturitySecuritiesMember Namespace Prefix: Data Type: na Balance Type: Period Type:

v3.20.1

INVESTMENT SECURITIES - Investment Securities Held to Maturity (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Schedule Of Held To Maturity Securities [Line Items]
Held to Maturity Fair value	$ 111,162	$ 110,374
Allowance for Credit Losse, Held-to-maturity securities	9,268	0
Municipal Bonds [Member] | Puerto Rico [Member]
Schedule Of Held To Maturity Securities [Line Items]
Held to Matury Amortized Due Withing One Year	321	321
Held to Maturity Gross Unrecognized gain Due Within One Year	0	0
Held to Maturity Gross Unrecognized losses Due Within One Year	3	6
Held to Maturity Fair value Due Within One Year	318	$ 315
Allowance for credit losses Withing One Year	$ 99
Held to Maturity Weighted-average yield Due withing One Year	5.65%	5.84%
Held to Maturity Amortized Cost After 1 to 5 years	$ 8,122	$ 8,264
Held to Maturity Gross Unrecognized gains After 1 to 5 years	0	0
Held to Maturity Gross Unrecognized losses After 1 to 5 years	675	736
Held to Maturity Fair value After 1 to 5 years	7,447	$ 7,528
Allowance for credit losses After 1 to 5 years	$ 78
Held to Maturity Weighted-average yield After 1 to 5 years	4.99%	5.18%
Held to Maturity Amortized Cost After 5 to 10 years	$ 56,511	$ 56,511
Held to Maturity Gross Unrecognized gains After 5 to 10 years	0	0
Held to Maturity Gross Unrecognized losses After 5 to 10 year	8,118	8,646
Held to Maturity Fair value After 5 to 10 years	48,393	$ 47,865
Allowance for credit losses After 5 to 10 years	$ 2,999
Held to Maturity Weighted-average yield After 5 to 10 years	5.42%	5.77%
Held to Maturity Weighted-average yield	5.31%	5.56%
Held to Maturity Amortized Cost After 10 years	$ 73,580	$ 73,579
Held to Maturity Gross Unrecognized gains After 10	0	0
Held to Maturity Gross Unrecognized losses After 10	18,576	18,913
Held to Maturity Fair value After 10 years	55,004	$ 54,666
Allowance for credit losses After 10 years	$ 6,092
Held to Maturity Weighted-average yield After 10 years	5.25%	5.44%
Held to Maturity Amortized cost	$ 138,534	$ 138,675
Held to Maturity Gross Unrecognized gains	0	0
Held to Maturity Fair value	111,162	110,374
Allowance for Credit Losse, Held-to-maturity securities	9,268	0
Held to Maturity Gross Unrecognized losses	$ 27,372	$ 28,301

X

- Definition Amount of allowance for credit loss for debt security measured at amortized cost (held-to-maturity), with single maturity date and allocated without single maturity date, maturing in sixth through tenth fiscal year following latest fiscal year. Excludes interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date. + References No definition available. + Details Name: fbp_DebtSecuritiesHeldToMaturityAllowanceForCreditLossAfterFiveThroughTenYears Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Amount of allowance for credit loss for debt security measured at amortized cost (held-to-maturity), with single maturity date and allocated without single maturity date, maturing in next fiscal year through fifth fiscal year following latest fiscal year. Excludes interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date. + References No definition available. + Details Name: fbp_DebtSecuritiesHeldToMaturityAllowanceForCreditLossAfterOneThroughFiveYears Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Amount of allowance for credit loss for debt security measured at amortized cost (held-to-maturity), with single maturity date and allocated without single maturity date, maturing after tenth fiscal year following latest fiscal year. Excludes interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date. + References No definition available. + Details Name: fbp_DebtSecuritiesHeldToMaturityAllowanceForCreditLossAfterTenYears Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Amount of allowance for credit loss for debt security measured at amortized cost (held-to-maturity), with single maturity date and allocated without single maturity date, maturing in next fiscal year following latest fiscal year. Excludes interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date. + References No definition available. + Details Name: fbp_DebtSecuritiesHeldToMaturityAllowanceForCreditLossWithinOneYear Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Weighted average yield of investment in debt security measured at amortized cost (held-to-maturity). + References No definition available. + Details Name: fbp_DebtSecuritiesHeldToMaturityMaturityWeightedAverageYield Namespace Prefix: fbp_ Data Type: num:percentItemType Balance Type: na Period Type: instant

X

- Definition Amount of accumulated unrecognized gain on investment in debt security measured at amortized cost (held-to-maturity), with single maturity date and allocated without single maturity date, maturing in sixth through tenth fiscal year following latest fiscal year. Excludes interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date. + References No definition available. + Details Name: fbp_HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGainAfterFiveThroughTenYears Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Amount of accumulated unrecognized gain on investment in debt security measured at amortized cost (held-to-maturity), with single maturity date and allocated without single maturity date, maturing in next fiscal year through fifth fiscal year following latest fiscal year. Excludes interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date. + References No definition available. + Details Name: fbp_HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGainAfterOneThroughFiveYears Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Amount of accumulated unrecognized gain on investment in debt security measured at amortized cost (held-to-maturity), with single maturity date and allocated without single maturity date, maturing after tenth fiscal year following latest fiscal year. Excludes interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date. + References No definition available. + Details Name: fbp_HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGainAfterTenYears Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Amount of accumulated unrecognized gain on investment in debt security measured at amortized cost (held-to-maturity), with single maturity date and allocated without single maturity date, maturing in next fiscal year following latest fiscal year. Excludes interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date. + References No definition available. + Details Name: fbp_HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGainWithinOneYear Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Amount of accumulated unrealized loss on investment in debt security measured at amortized cost (held-to-maturity), with single maturity date and allocated without single maturity date, maturing in sixth through tenth fiscal year following latest fiscal year. Excludes interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date. + References No definition available. + Details Name: fbp_HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLossAfterFiveThroughTenYears Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of accumulated unrealized loss on investment in debt security measured at amortized cost (held-to-maturity), with single maturity date and allocated without single maturity date, maturing in next fiscal year through fifth fiscal year following latest fiscal year. Excludes interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date. + References No definition available. + Details Name: fbp_HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLossAfterOneThroughFiveYears Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of accumulated unrealized loss on investment in debt security measured at amortized cost (held-to-maturity), with single maturity date and allocated without single maturity date, maturing after tenth fiscal year following latest fiscal year. Excludes interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date. + References No definition available. + Details Name: fbp_HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLossAfterTenYears Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of accumulated unrealized loss on investment in debt security measured at amortized cost (held-to-maturity), with single maturity date and allocated without single maturity date, maturing in next fiscal year following latest fiscal year. Excludes interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date. + References No definition available. + Details Name: fbp_HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLossWithinOneYear Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of allowance for credit loss for debt security measured at amortized cost (held-to-maturity). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -Subparagraph (aaa) -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27232-111563 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118955202&loc=SL82895884-210446 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 + Details Name: us-gaap_DebtSecuritiesHeldToMaturityAllowanceForCreditLoss Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Weighted average yield of investment in debt security measured at amortized cost (held-to-maturity), maturing after tenth fiscal year following latest fiscal year. Excludes interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher SEC -Name Industry Guide -Number 3 -Section II -Paragraph B + Details Name: us-gaap_DebtSecuritiesHeldToMaturityMaturityAfter10YearsWeightedAverageYield Namespace Prefix: us-gaap_ Data Type: num:percentItemType Balance Type: na Period Type: instant

X

- Definition Weighted average yield of investment in debt security measured at amortized cost (held-to-maturity), maturing in sixth through tenth fiscal year following latest fiscal year. Excludes interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher SEC -Name Industry Guide -Number 3 -Section II -Paragraph B + Details Name: us-gaap_DebtSecuritiesHeldToMaturityMaturityAfterFiveThroughTenYearsWeightedAverageYield Namespace Prefix: us-gaap_ Data Type: num:percentItemType Balance Type: na Period Type: instant

X

- Definition Weighted average yield of investment in debt security measured at amortized cost (held-to-maturity), maturing in second through fifth fiscal year following latest fiscal year. Excludes interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher SEC -Name Industry Guide -Number 3 -Section II -Paragraph B + Details Name: us-gaap_DebtSecuritiesHeldToMaturityMaturityAfterOneThroughFiveYearsWeightedAverageYield Namespace Prefix: us-gaap_ Data Type: num:percentItemType Balance Type: na Period Type: instant

X

- Definition Weighted average yield of investment in debt security measured at amortized cost (held-to-maturity), maturing in next fiscal year following latest fiscal year. Excludes interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher SEC -Name Industry Guide -Number 3 -Section II -Paragraph B + Details Name: us-gaap_DebtSecuritiesHeldToMaturityMaturityWithinOneYearWeightedAverageYield Namespace Prefix: us-gaap_ Data Type: num:percentItemType Balance Type: na Period Type: instant

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- Definition Amount of investment in debt security measured at amortized cost (held-to-maturity). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 45 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118954083&loc=d3e26610-111562 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27232-111563 + Details Name: us-gaap_HeldToMaturitySecurities Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of accumulated unrecognized gain on investment in debt security measured at amortized cost (held-to-maturity). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27232-111563 + Details Name: us-gaap_HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGain Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Amount of accumulated unrealized loss on investment in debt security measured at amortized cost (held-to-maturity). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27232-111563 + Details Name: us-gaap_HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

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v3.20.1

Consolidated Statements of Financial Condition (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
ASSETS
Cash and due from banks	$ 990,007	$ 546,391
Money market investments:
Time deposits with other financial institutions	300	300
Other short term investments	97,408	97,408
Total money market investments	97,708	97,708
Investment securities available for sale, at fair value:
Securities pledged with creditors right to reledge	323,772	130,165
Other Investment Securities Available For Sale	1,608,406	1,993,360
Total investment securities available for sale	1,932,178	2,123,525
Held to maturity securities, at amortized cost, net of allowance for credit losses	129,266	138,675
Equity securities	39,630	38,249
Total loans, net	8,758,219	8,886,543
Loans, net of allowance for credit losses of $292,7774 (2019 - $155,139)	8,746,173	8,847,066
Loans held for sale, at lower of cost or market	12,046	39,477
Premises and equipment, net	149,863	149,989
Other real estate owned	99,674	101,626
Accrued interest receivable on loans and investments	49,425	50,205
Deferred tax asset, net	307,829	264,842
Other assets	494,178	213,513
Total assets	13,047,977	12,611,266
LIABILITIES
Total deposits	9,562,313	9,348,429
Non-interest-bearing deposits	2,404,932	2,367,856
Interest-bearing deposits	7,157,381	6,980,573
Securities sold under agreements to repurchase	300,000	100,000
Advances from the Federal Home Loan Bank (FHLB)	565,000	570,000
Other borrowings	184,150	184,150
Accounts payable and other liabilities	176,763	180,614
Total liabilities	10,848,226	10,383,193
Preferred stock, authorized 50,000,000 shares:
Non-cumulative Perpetual Monthly Income Preferred Stock: 22,004,000 shares issued, 1,444,146 shares outstanding, aggregate liquidation value of $36,104	36,104	36,104
Common stock outstanding, 218,160,725 shares outstanding (2019 - 217,359,337 shares outstanding)	21,816	21,736
Common stock, $0.10 par value, authorized, 2,000,000,000 shares; 222,955,394 shares issued(2019 - 222,103,721 shares issued)	22,296	22,210
Less: Treasury stock (at par value)	(480)	(474)
Additional paid-in capital	942,516	941,652
Retained earnings, includes legal surplus reserve of $97,586 as of each March 31, 2020 and December 31, 2019	1,150,199	1,221,817
Accumulated other comprehensive loss , net of tax of $7,752 as of each March 31, 2020 and December 31, 2019	49,116	6,764
Total stockholders' equity	2,199,751	2,228,073
Total liabilities and stockholders' equity	13,047,977	12,611,266
Federal Reserve Bank Advances [Member]
LIABILITIES
Loans payable	$ 60,000	$ 0

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- Definition For banks and other depository institutions: Includes cash on hand (currency and coin), cash items in process of collection, noninterest bearing deposits due from other financial institutions (including corporate credit unions), and noninterest bearing balances with the Federal Reserve Banks, Federal Home Loan Banks and central banks. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(1)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details Name: us-gaap_CashAndDueFromBanks Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Amount after allowance and deduction of deferred interest and fees, unamortized costs and premiums and discounts from face amounts, of loans and leases held in portfolio, including but not limited to, commercial and consumer loans. Excludes loans and leases covered under loss sharing agreements and loans held for sale. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=118952595&loc=d3e4428-111522 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.7) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details Name: us-gaap_LoansAndLeasesReceivableNetReportedAmount Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Investment in short-term money-market instruments (such as commercial paper, banker's acceptances, repurchase agreements, government securities, certificates of deposit, and so forth) which are highly liquid (that is, readily convertible to known amounts of cash) and so near their maturity that they present an insignificant risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify as cash equivalents by definition. Original maturity means an original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three-years ago does not become a cash equivalent when its remaining maturity is three months. + References No definition available. + Details Name: us-gaap_MoneyMarketFundsAtCarryingValue Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Amount of assets classified as other. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(17)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(10)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(10)) -URI http://asc.fasb.org/extlink&oid=119400593&loc=d3e572229-122910 + Details Name: us-gaap_OtherAssets Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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v3.20.1

LOANS HELD FOR INVESTMENT - Corporation's Aging of Loans Held for Investment Portfolio (Parenthetical) (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Consumer Portfolio Segment [Member] | Credit Card [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Threshold Period Past Due, Writeoff	180 days	180 days
Consumer Portfolio Segment [Member] | Credit Card [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Threshold Period Past Due, Writeoff	180 days	180 days
Residential Portfolio Segment [Member] | GNMA [Member] | Repurchase Option Program [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	$ 35,000,000.0	$ 35,600,000
Loans held for investmet [Member]
Financing Receivable, Past Due [Line Items]
Current	8,600,643,000	8,493,827,000
Financing Receivable, Past Due	438,304,000	508,378,000
Financing Receivable, before Allowance for Credit Loss	9,038,947,000	9,002,205,000
Loans held for investmet [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Current	6,687,866,000	6,639,398,000
Financing Receivable, Past Due	416,040,000	488,879,000
Financing Receivable, before Allowance for Credit Loss	7,103,906,000	7,128,277,000
Loans held for investmet [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Current	1,912,777,000	1,854,429,000
Financing Receivable, Past Due	22,264,000	19,499,000
Financing Receivable, before Allowance for Credit Loss	1,935,041,000	1,873,928,000
Loans held for investmet [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	43,918,000	55,640,000
Loans held for investmet [Member] | 30-59 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	40,215,000	53,892,000
Loans held for investmet [Member] | 30-59 Days Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	3,703,000	1,748,000
Loans held for investmet [Member] | 60-89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	50,650,000	107,028,000
Loans held for investmet [Member] | 60-89 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	48,131,000	103,691,000
Loans held for investmet [Member] | 60-89 Days Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	2,519,000	3,337,000
Loans held for investmet [Member] | 90 days or more Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	343,736,000	345,710,000
Loans held for investmet [Member] | 90 days or more Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	327,694,000	331,296,000
Loans held for investmet [Member] | 90 days or more Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	16,042,000	14,414,000
Loans held for investmet [Member] | PCD loans [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	134,000,000.0	136,700,000
Loans held for investmet [Member] | PCD loans [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	134,000,000.0	136,700,000
Loans held for investmet [Member] | Consumer Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	2,312,629,000	2,281,653,000
Loans held for investmet [Member] | Consumer Portfolio Segment [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	2,276,404,000	2,241,131,000
Loans held for investmet [Member] | Consumer Portfolio Segment [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	36,225,000	40,522,000
Loans held for investmet [Member] | Residential Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	2,875,672,000	2,933,773,000
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	2,318,172,000	2,367,587,000
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	557,500,000	566,186,000
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member]
Financing Receivable, Past Due [Line Items]
Current	2,556,239,000	2,562,747,000
Financing Receivable, Past Due	200,918,000	247,117,000
Financing Receivable, before Allowance for Credit Loss	2,757,157,000	2,809,864,000
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Current	2,016,028,000	2,013,525,000
Financing Receivable, Past Due	184,817,000	231,633,000
Financing Receivable, before Allowance for Credit Loss	2,200,845,000	2,245,158,000
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Current	540,211,000	549,222,000
Financing Receivable, Past Due	16,101,000	15,484,000
Financing Receivable, before Allowance for Credit Loss	556,312,000	564,706,000
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	0	0
Financing Receivable, before Allowance for Credit Loss	99,000,000.0	116,200,000
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 30-59 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	0	0
Financing Receivable, before Allowance for Credit Loss	86,800,000	110,500,000
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 30-59 Days Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	0	0
Financing Receivable, before Allowance for Credit Loss	12,200,000	5,800,000
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 60-89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	40,047,000	85,501,000
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 60-89 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	38,129,000	83,308,000
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 60-89 Days Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	1,918,000	2,193,000
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 90 days or more Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	160,871,000	161,616,000
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 90 days or more Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	146,688,000	148,325,000
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 90 days or more Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	14,183,000	13,291,000
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | PCD loans [Member]
Financing Receivable, Past Due [Line Items]
Current	104,200,000	101,200,000
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | PCD loans [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Current	104,200,000	101,200,000
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | PCD loans [Member] | 60-89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	3,500,000	7,500,000
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | PCD loans [Member] | 60-89 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	3,500,000	7,500,000
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | PCD loans [Member] | 90 days or more Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	23,800,000	25,000,000.0
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | PCD loans [Member] | 90 days or more Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	23,800,000	25,000,000.0
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable Recorded Investment 15 Months Past Due And No Still Accruing	$ 34,600,000	$ 37,900,000
Period Of Residential Mortgage Loan That Are No Longer Accruing Interest	15 months	15 months
Current	$ 38,793,000	$ 40,701,000
Financing Receivable, Past Due	79,722,000	83,208,000
Financing Receivable, before Allowance for Credit Loss	118,515,000	123,909,000
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable Recorded Investment 15 Months Past Due And No Still Accruing	$ 34,600,000	$ 37,900,000
Period Of Residential Mortgage Loan That Are No Longer Accruing Interest	15 months	15 months
Current	$ 37,734,000	$ 39,350,000
Financing Receivable, Past Due	79,593,000	83,079,000
Financing Receivable, before Allowance for Credit Loss	117,327,000	122,429,000
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable Recorded Investment 15 Months Past Due And No Still Accruing	$ 0	$ 0
Period Of Residential Mortgage Loan That Are No Longer Accruing Interest	15 months	15 months
Current	$ 1,059,000	$ 1,351,000
Financing Receivable, Past Due	129,000	129,000
Financing Receivable, before Allowance for Credit Loss	1,188,000	1,480,000
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	0	0
Financing Receivable, before Allowance for Credit Loss	7,800,000	7,100,000
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 30-59 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	0	0
Financing Receivable, before Allowance for Credit Loss	7,700,000	6,700,000
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 30-59 Days Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	0	0
Financing Receivable, before Allowance for Credit Loss	100,000	400,000
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 60-89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	1,956,000	2,068,000
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 60-89 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	1,956,000	2,068,000
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 60-89 Days Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	0	0
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 90 days or more Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	77,766,000	81,140,000
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 90 days or more Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	77,637,000	81,011,000
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 90 days or more Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	129,000	129,000
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | GNMA [Member] | Repurchase Option Program [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	35,000,000.0	35,600,000
Loans held for investmet [Member] | Residential Portfolio Segment [Member] | GNMA [Member] | Repurchase Option Program [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	35,000,000.0	35,600,000
Loans held for investmet [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Past Due [Line Items]
Current	1,413,463,000	1,398,737,000
Financing Receivable, Past Due	41,290,000	45,849,000
Financing Receivable, before Allowance for Credit Loss	1,454,753,000	1,444,586,000
Loans held for investmet [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Current	1,038,705,000	1,034,921,000
Financing Receivable, Past Due	40,684,000	44,979,000
Financing Receivable, before Allowance for Credit Loss	1,079,389,000	1,079,900,000
Loans held for investmet [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Current	374,758,000	363,816,000
Financing Receivable, Past Due	606,000	870,000
Financing Receivable, before Allowance for Credit Loss	375,364,000	364,686,000
Loans held for investmet [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	334,000	0
Financing Receivable, before Allowance for Credit Loss	4,500,000	6,600,000
Loans held for investmet [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | 30-59 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	311,000	0
Financing Receivable, before Allowance for Credit Loss	4,200,000	6,000,000.0
Loans held for investmet [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | 30-59 Days Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	23,000	0
Financing Receivable, before Allowance for Credit Loss	300,000	600,000
Loans held for investmet [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | 60-89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	348,000	3,551,000
Loans held for investmet [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | 60-89 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	348,000	2,681,000
Loans held for investmet [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | 60-89 Days Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	0	870,000
Loans held for investmet [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | 90 days or more Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	40,608,000	42,298,000
Loans held for investmet [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | 90 days or more Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	40,025,000	42,298,000
Loans held for investmet [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | 90 days or more Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	583,000	0
Loans held for investmet [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | PCD loans [Member]
Financing Receivable, Past Due [Line Items]
Current	900,000	900,000
Loans held for investmet [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | PCD loans [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Current	900,000	900,000
Loans held for investmet [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | PCD loans [Member] | 90 days or more Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	1,600,000	2,000,000.0
Loans held for investmet [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | PCD loans [Member] | 90 days or more Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	1,600,000	2,000,000.0
Loans held for investmet [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Past Due [Line Items]
Current	149,902,000	101,430,000
Financing Receivable, Past Due	9,773,000	9,887,000
Financing Receivable, before Allowance for Credit Loss	159,675,000	111,317,000
Loans held for investmet [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Current	48,740,000	38,359,000
Financing Receivable, Past Due	9,773,000	9,887,000
Financing Receivable, before Allowance for Credit Loss	58,513,000	48,246,000
Loans held for investmet [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Current	101,162,000	63,071,000
Financing Receivable, Past Due	0	0
Financing Receivable, before Allowance for Credit Loss	101,162,000	63,071,000
Loans held for investmet [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	0	0
Financing Receivable, before Allowance for Credit Loss	100,000	100,000
Loans held for investmet [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | 30-59 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	0	0
Financing Receivable, before Allowance for Credit Loss	100,000	100,000
Loans held for investmet [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | 30-59 Days Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	0	0
Loans held for investmet [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | 60-89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	81,000	105,000
Loans held for investmet [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | 60-89 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	81,000	105,000
Loans held for investmet [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | 60-89 Days Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	0	0
Loans held for investmet [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | 90 days or more Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	9,692,000	9,782,000
Loans held for investmet [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | 90 days or more Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	9,692,000	9,782,000
Loans held for investmet [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | 90 days or more Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	$ 0	$ 0

X

- Definition Amount of financing receivable 15 months or more past due and no still accruing. + References No definition available. + Details Name: fbp_FinancingReceivableRecordedInvestment15MonthsPastDueAndNoStillAccruing Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Period of residential mortgage loan that are no longer accruing interest. + References No definition available. + Details Name: fbp_PeriodOfResidentialMortgageLoanThatAreNoLongerAccruingInterest Namespace Prefix: fbp_ Data Type: xbrli:durationItemType Balance Type: na Period Type: duration

X

- Definition Amount of financing receivable not past due. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 80 -URI http://asc.fasb.org/extlink&oid=118955255&loc=SL82922355-210448 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919253-210447 + Details Name: us-gaap_FinancingReceivableRecordedInvestmentCurrent Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of financing receivable past due. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 80 -URI http://asc.fasb.org/extlink&oid=118955255&loc=SL82922355-210448 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919253-210447 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 7A -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953401-111524 + Details Name: us-gaap_FinancingReceivableRecordedInvestmentPastDue Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details Name: us-gaap_FinancingReceivableRecordedInvestmentPastDueLineItems Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

X

- Definition Threshold period for when financing receivable is considered past due to write off as uncollectible, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919253-210447 + Details Name: us-gaap_FinancingReceivableThresholdPeriodPastDueWriteoff Namespace Prefix: us-gaap_ Data Type: xbrli:durationItemType Balance Type: na Period Type: instant

X

- Definition Amount, before allowance for credit loss, of financing receivable. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 5 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919230-210447 + Details Name: us-gaap_NotesReceivableGross Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Details Name: us-gaap_FinancingReceivablePortfolioSegmentAxis=us-gaap_ConsumerPortfolioSegmentMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: srt_ProductOrServiceAxis=us-gaap_CreditCardMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: srt_StatementGeographicalAxis=fbp_PrandviMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_FinancingReceivablePortfolioSegmentAxis=us-gaap_ResidentialPortfolioSegmentMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_LoansInsuredOrGuaranteedByGovernmentAuthoritiesAxis=us-gaap_GovernmentNationalMortgageAssociationGnmaInsuredLoansMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_QualitativeAndQuantitativeInformationTransferorsContinuingInvolvementTransferredFinancialAssetsByTransferOrTransfereeAxis=fbp_RepurchaseoptionprogrammemberMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_FairValueByAssetClassAxis=fbp_HeldToInvestmentLoansMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: srt_StatementGeographicalAxis=country_US Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_FinancingReceivablesPeriodPastDueAxis=us-gaap_FinancingReceivables30To59DaysPastDueMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_FinancingReceivablesPeriodPastDueAxis=us-gaap_FinancingReceivables60To89DaysPastDueMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_FinancingReceivablesPeriodPastDueAxis=us-gaap_FinancingReceivablesEqualToGreaterThan90DaysPastDueMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_CreditLossStatusAxis=us-gaap_FinancialAssetAcquiredWithCreditDeteriorationMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: srt_MortgageLoansOnRealEstateLoanTypeAxis=us-gaap_ConventionalLoanMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_LoansInsuredOrGuaranteedByGovernmentAuthoritiesAxis=us-gaap_LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_FinancingReceivablePortfolioSegmentAxis=us-gaap_CommercialPortfolioSegmentMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_MortgageReceivablesMember Namespace Prefix: Data Type: na Balance Type: Period Type:

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- Details Name: us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=us-gaap_ConstructionLoansMember Namespace Prefix: Data Type: na Balance Type: Period Type:

v3.20.1

CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities:
Net income	$ 2,266	$ 43,314
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	4,486	4,449
Amortization of intangible assets	713	799
Provision for credit losses	77,366	11,408
Deferred income tax (benefit) expense	(11,654)	13,900
Stock-based compensation	1,142	1,018
Gain on sales of investment securities	(8,247)	0
Unrealized loss on derivative instruments	(17)	(589)
Net gain on sales of premises and equipment and other assets	15	(17)
Net gain on sales of loans	(2,538)	(1,536)
Net amortization/accretion of premiums, discounts and deferred loan fees and costs	(1,369)	(2,023)
Originations and purchases of loans held for sale	(62,989)	(74,225)
Sales and repayments of loans held for sale	92,586	78,654
Amortization of broker placement fees	158	189
Net amortization/accretion of premium and discounts on investment securities	1,307	39
(Increase) decrease in accrued interest receivable	(197)	(669)
Increase in accrued interest payable	523	736
Decrease in other assets	6,400	14,176
(Decrease) increase in other liabilities	(8,419)	(6,641)
Net cash provided by operating activities	91,532	82,982
Cash flows from investing activities:
Net (disbursements) repayments on loans held for investment	(68,997)	(175,142)
Proceeds from sale of loans held for investment	3,610	4,998
Proceeds from sale of repossessed assets	8,966	11,250
Purchases of available-for-sale securities	(147,801)	0
Proceeds from principal repayments and maturities of available-for-sale securities	104,188	57,809
Proceeds from principal repayments of held-to-maturity securities	141	142
Additions to premises and equipment	(4,375)	(4,046)
Net redemptions/purchases of other investment securities	(1,352)	100
Proceeds from sale of premises and equipment and other assets	0	18
Net cash (used in) provided by investing activities	(105,620)	(104,871)
Cash flows from financing activities:
Net increase in deposits	214,408	84,436
Net increase (decrease) in short-term borrowings	55,000	(50,086)
Proceeds from long-term reverse repuchase agreements	200,000	0
Repurchase of outstanding common stock	(198)	(1,882)
Dividends paid on common stock	(10,837)	(6,538)
Dividends paid on preferred stock	(669)	(669)
Net cash provided by financing activities	457,704	25,261
Net increase in cash and cash equivalents	443,616	3,372
Cash and cash equivalents at beginning of period	644,099	586,203
Cash and cash equivalents at end of period	1,087,715	589,575
Cash and cash equivalents include:
Cash and Cash Equivalents, at Carrying Value, Total	$ 1,087,715	$ 589,575

X

- Definition Amortization of broker placement fees + References No definition available. + Details Name: fbp_AmortizationOfBrokerPlacementFees Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

X

- Definition The sum of the periodic adjustments of the differences between securities' face values and purchase prices that are charged against earnings. This is called accretion if the security was purchased at a discount and amortization if it was purchased at premium. Also includes the net increase(decrease) in interest income during the period representing the allocation of deferred loan origination fees less deferred loan origination costs using the effective interest method over the term of the debt arrangement to which they pertain taking into account the effect of prepayments.As noncash items, these elements are adjustments to net income when calculating cash provided by or used in operations using the indirect method. + References No definition available. + Details Name: fbp_AmortizationOfPremiumsAndDiscountsOnDeferredLoanFeesAndCosts Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

X

- Definition The sum of the periodic adjustments of the differences between securities' face values and purchase prices that are charged against earnings. This is called accretion if the security was purchased at a discount and amortization if it was purchased at premium. As a noncash item, this element is an adjustment to net income when calculating cash provided by or used in operations using the indirect method. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 + Details Name: us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

X

- References No definition available. + Details Name: us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

X

- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a)(2) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6388964&loc=d3e16225-109274 + Details Name: us-gaap_AmortizationOfIntangibleAssets Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

X

- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3044-108585 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118951113&loc=d3e6676-107765 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.1) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details Name: us-gaap_CashAndCashEquivalentsAtCarryingValue Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- References No definition available. + Details Name: us-gaap_CashAndCashEquivalentsAtCarryingValueAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

X

- Definition Amount of increase (decrease) in cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; excluding effect from exchange rate change. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 230 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=98513438&loc=d3e33268-110906 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 24 -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3521-108585 + Details Name: us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

X

- Definition Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 6.I.7) -URI http://asc.fasb.org/extlink&oid=116825942&loc=d3e330036-122817 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details Name: us-gaap_DeferredIncomeTaxExpenseBenefit Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

X

- Definition The expense recognized in the current period that allocates the cost of nonproduction tangible assets over their useful lives. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 + Details Name: us-gaap_DepreciationNonproduction Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

X

- Definition The net realized gain (loss) on investments sold during the period, not including gains (losses) on securities separately or otherwise categorized as trading, available-for-sale, or held-to-maturity, which, for cash flow reporting, is a component of proceeds from investing activities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 + Details Name: us-gaap_GainLossOnSaleOfInvestments Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

X

- Definition The gains (losses) included in earnings that represent the difference between the sale price and the carrying value of loans and leases that were sold during the reporting period. This element refers to the gain (loss) and not to the cash proceeds of the sales. This element is a noncash adjustment to net income when calculating net cash generated by operating activities using the indirect method. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 + Details Name: us-gaap_GainLossOnSaleOfLoansAndLeases Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

X

- Definition Amount of gain (loss) on sale or disposal of property, plant and equipment assets, including oil and gas property and timber property. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 + Details Name: us-gaap_GainLossOnSaleOfPropertyPlantEquipment Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

X

- Definition The increase (decrease) during the reporting period in the amount due from borrowers for interest payments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 + Details Name: us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

X

- Definition The net cash inflow or outflow for the increase (decrease) in the beginning and end of period deposits balances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3095-108585 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 230 -Section 45 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6477933&loc=d3e60009-112784 + Details Name: us-gaap_IncreaseDecreaseInDeposits Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

X

- Definition The increase (decrease) during the reporting period in interest payable, which represents the amount owed to note holders, bond holders, and other parties for interest earned on loans or credit extended to the reporting entity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 + Details Name: us-gaap_IncreaseDecreaseInInterestPayableNet Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

X

- Definition Amount of increase (decrease) in operating assets classified as other. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 + Details Name: us-gaap_IncreaseDecreaseInOtherOperatingAssets Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

X

- Definition Amount of increase (decrease) in operating liabilities classified as other. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 + Details Name: us-gaap_IncreaseDecreaseInOtherOperatingLiabilities Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

X

- Definition Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 24 -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3521-108585 + Details Name: us-gaap_NetCashProvidedByUsedInFinancingActivities Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

X

- References No definition available. + Details Name: us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

X

- Definition Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 24 -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3521-108585 + Details Name: us-gaap_NetCashProvidedByUsedInInvestingActivities Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

X

- References No definition available. + Details Name: us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

X

- Definition Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3536-108585 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 24 -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3521-108585 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 + Details Name: us-gaap_NetCashProvidedByUsedInOperatingActivities Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: na Period Type: duration

X

- References No definition available. + Details Name: us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

X

- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1A -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669619-108580 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(22)) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1B -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669625-108580 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(18)) -URI http://asc.fasb.org/extlink&oid=116637232&loc=SL114874131-224263 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(20)) -URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details Name: us-gaap_NetIncomeLoss Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

X

- Definition The aggregate amount of cash outflow for loans purchased and created with the intention to resell them in the near future. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3461-108585 + Details Name: us-gaap_PaymentsForOriginationAndPurchasesOfLoansHeldForSale Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

X

- Definition Amount of cash outflow (inflow) from acquisition (sale) of Federal Home Loan Bank (FHLBank) stock. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 + Details Name: us-gaap_PaymentsForProceedsFromFederalHomeLoanBankStock Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

X

- Definition The net cash outflow or inflow for the increase (decrease) in the beginning and end of period of loan and lease balances which are not originated or purchased specifically for resale. Includes cash payments and proceeds associated with (a) loans held-for-investment, (b) leases held-for-investment, and (c) both. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 + Details Name: us-gaap_PaymentsForProceedsFromLoansAndLeases Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

X

- Definition The cash outflow to reacquire common stock during the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 15 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3291-108585 + Details Name: us-gaap_PaymentsForRepurchaseOfCommonStock Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

X

- Definition Amount of cash outflow in the form of ordinary dividends to common shareholders of the parent entity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 15 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3291-108585 + Details Name: us-gaap_PaymentsOfDividendsCommonStock Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

X

- Definition Amount of cash outflow in the form of ordinary dividends to preferred shareholders of the parent entity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 15 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3291-108585 + Details Name: us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

X

- Definition The cash outflow to acquire debt and equity securities not classified as either held-to-maturity securities or trading securities which would be classified as available-for-sale securities and reported at fair value, with unrealized gains and losses excluded from earnings and reported in a separate component of shareholders' equity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=118954083&loc=d3e26853-111562 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 13 -Subparagraph (a),(b) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3213-108585 + Details Name: us-gaap_PaymentsToAcquireAvailableForSaleSecurities Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

X

- Definition The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 13 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3213-108585 + Details Name: us-gaap_PaymentsToAcquirePropertyPlantAndEquipment Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

X

- Definition Amount of cash inflow from maturity, prepayment and call of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=118954083&loc=d3e26853-111562 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3151-108585 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3179-108585 + Details Name: us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

X

- Definition The cash inflow associated with the maturity, prepayments and calls (requests for early payments) of debt securities designated as held-to-maturity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3179-108585 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=118954083&loc=d3e26853-111562 + Details Name: us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

X

- Definition The cash flow from investments sold under the agreement to repurchase such investment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3098-108585 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3095-108585 + Details Name: us-gaap_ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

X

- Definition The net cash inflow or outflow for borrowing having initial term of repayment within one year or the normal operating cycle, if longer. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 + Details Name: us-gaap_ProceedsFromRepaymentsOfShortTermDebt Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition The cash inflow from sale proceeds and collection of repayments from borrowers on loans classified as held-for-sale, including proceeds from loans sold through mortgage securitization; includes mortgages and other types of loans. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3461-108585 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 16 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3337-108585 + Details Name: us-gaap_ProceedsFromSaleAndCollectionOfLoansHeldforsale Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition The cash inflow from the sale assets received in full or partial satisfaction of a receivable including real and personal property; equity interests in corporations, partnerships, and joint ventures; and beneficial interests in trusts. Foreclosed assets also include loans that are treated as if the underlying collateral had been foreclosed because the institution has taken possession of the collateral, even though legal foreclosure or repossession proceedings have not taken place. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3179-108585 + Details Name: us-gaap_ProceedsFromSaleOfForeclosedAssets Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition The cash inflow from Sales of Loans Held For Investment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3179-108585 + Details Name: us-gaap_ProceedsFromSaleOfLoansHeldForInvestment Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition Amount of cash inflow from the sale of tangible or intangible assets used to produce goods or deliver services, classified as other. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3179-108585 + Details Name: us-gaap_ProceedsFromSaleOfOtherProductiveAssets Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition Amount of expense related loan transactions, lease transactions, credit loss from transactions other than loan and lease transactions, and other loss based on assessment of uncollectability from the counterparty to reduce the account to their net realizable value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953423-111524 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.11) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 + Details Name: us-gaap_ProvisionForLoanLeaseAndOtherLosses Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition Amount of noncash expense for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 + Details Name: us-gaap_ShareBasedCompensation Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 + Details Name: us-gaap_UnrealizedGainLossOnDerivatives Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

v3.20.1

LEASES	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Lessee, Operating Leases [Text Block]	NOTE 11 – LEASES The Corporation’s operating leases are primarily related to the Corporation’s branches and leased commercial space for automated teller machines (“ATMs”). Our leases mainly have terms ranging from two years to thirty years, some of which include options to extend the leases for up to seven years. As of March 31, 2020 and December 31, 2019, the Corporation did not have a lease that qualifies as a finance lease. Operating lease cost for the quarter ended March 31, 2020 and 2019 amounted to $2.6 million and $2.7 million, respectively. Supplemental balance sheet information related to leases as of the dates indicated was as follows:                   March 31,   December 31,     2020   2019 (In thousands)                         Operating lease ROU asset $ 59,488   $ 61,327 Operating lease liability $ 62,509   $ 64,259 Operating lease weighted-average remaining lease term (in years)   10.7     10.8 Operating lease weighted-average discount rate   3.30%     3.29% Generally, the Corporation cannot practically determine the interest rate implicit in the lease. Therefore, the Corporation uses its incremental borrowing rate as the discount rate for the lease. Supplemental cash flow information related to leases for the indicated periods was as follows:                         Quarter Ended     March 31,     2020   2019 (In thousands)                         Operating cash flow from operating leases (1) $ 2,550   $ 2,742 ROU assets obtained in exchange for operating lease liabilities (2)   274     -               Represents cash paid for amounts included in the measurement of operating lease liabilities.Represents non-cash activity and, accordingly, is not reflected in the consolidated statements of cash flows. Maturities under lease liabilities as of March 31, 2020, were as follows:         Amount (In thousands)           2020 $ 7,712 2021   9,622 2022   8,612 2023   7,007 2024   6,422 2025 and later years   35,434 Total lease payments   74,809 Less: imputed interest   (12,300) Total present value of lease liability $ 62,509

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details Name: us-gaap_LesseeOperatingLeasesTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

v3.20.1

EARNINGS PER COMMON SHARE	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
EARNINGS PER COMMON SHARE [Text Block]	NOTE 3 – EARNINGS PER COMMON SHARE   The calculation of earnings per common share for the quarters ended March 31, 2020 and 2019 are as follows:                     Quarter Ended       March 31,   March 31,       2020   2019   (In thousands, except per share information)     Net income $ 2,266   $ 43,314   Less: Preferred stock dividends   (669)     (669)   Net income attributable to common stockholders $ 1,597   $ 42,645                   Weighted-Average Shares:               Average common shares outstanding   216,785     216,338     Average potential dilutive common shares   529     612     Average common shares outstanding-assuming dilution   217,314     216,950                   Earnings per common share:               Basic $ 0.01   $ 0.20     Diluted $ 0.01   $ 0.20       Earnings per common share is computed by dividing net income attributable to common stockholders by the weighted-average number of common shares issued and outstanding. Net income attributable to common stockholders represents net income adjusted for any preferred stock dividends, including any dividends declared but not yet paid, and any cumulative dividends related to the current dividend period that have not been declared as of the end of the period. Basic weighted-average common shares outstanding exclude unvested shares of restricted stock that do not contain non-forfeitable dividend rights.   Potential dilutive common shares consist of unvested shares of restricted stock that do not contain non-forfeitable dividend rights using the treasury stock method. This method assumes that the potential dilutive common shares are issued and outstanding and the proceeds from the exercise, in addition to the amount of compensation cost attributable to future services, are used to purchase common stock at the exercise date. The difference between the numbers of potential dilutive shares issued and the shares purchased is added as incremental shares to the actual number of shares outstanding to compute diluted earnings per share. Unvested shares of restricted stock outstanding during the period that result in lower potential dilutive shares issued than shares purchased under the treasury stock method are not included in the computation of dilutive earnings per share since their inclusion would have an antidilutive effect on earnings per share. Potential dilutive common shares also include performance units that do not contain non-forfeitable dividend rights if the performance condition is met as of the end of the reporting period.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details Name: us-gaap_EarningsPerShareTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

v3.20.1

GOODWILL AND OTHER INTANGIBLES - Additional Information (Detail) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Feb. 15, 2016	Jun. 30, 2012
Finite Lived Intangible Assets [Line Items]
Goodwill	$ 28,100,000		$ 28,100,000
Amortization expense	713,000	$ 799,000
Goodwill and Intangible Asset Impairment	0
Core Deposits [Member]
Finite Lived Intangible Assets [Line Items]
Finite Lived Intangible Assets Gross	51,664,000		51,664,000
Amortization expense	200,000	200,000
Finite Lived Intangible Assets Net	$ 3,287,000		$ 3,488,000
Finite Lived Intangible Assets Remaining Amortization Period	4 years 9 months 18 days		5 years 1 month 6 days
Customer Relationships [Member] | Credit Card [Member]
Finite Lived Intangible Assets [Line Items]
Finite Lived Intangible Assets Gross	$ 24,465,000		$ 24,465,000
Amortization expense	500,000	500,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles					$ 24,500,000
Finite Lived Intangible Assets Net	$ 3,141,000		$ 3,615,000
Finite Lived Intangible Assets Remaining Amortization Period	1 year 7 months 6 days		1 year 10 months 24 days
Customer Relationships [Member] | Insurance Customer Intangible [Member]
Finite Lived Intangible Assets [Line Items]
Finite Lived Intangible Assets Gross	$ 1,067,000		$ 1,067,000
Amortization expense	38,000	$ 38,000
Finite Lived Intangible Assets Net	$ 432,000		$ 470,000
Finite Lived Intangible Assets Remaining Amortization Period	2 years 9 months 18 days		3 years
Doral Bank Transaction Member [Member] | Customer Relationships [Member] | Insurance Customer Intangible [Member]
Finite Lived Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles				$ 1,100,000

X

- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a)(2) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6388964&loc=d3e16225-109274 + Details Name: us-gaap_AmortizationOfIntangibleAssets Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition The amount of identifiable intangible assets recognized as of the acquisition date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 55 -Paragraph 37 -URI http://asc.fasb.org/extlink&oid=116868840&loc=d3e2207-128464 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=116869197&loc=d3e4845-128472 + Details Name: us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Amount before amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 928 -SubTopic 340 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6473545&loc=d3e61844-108004 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a)(1) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details Name: us-gaap_FiniteLivedIntangibleAssetsGross Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a)(1) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details Name: us-gaap_FiniteLivedIntangibleAssetsNet Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Remaining amortization period of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. + References No definition available. + Details Name: us-gaap_FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1 Namespace Prefix: us-gaap_ Data Type: xbrli:durationItemType Balance Type: na Period Type: duration

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v3.20.1

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Notional Amounts of All Derivative Instruments (Detail) - Not Designated as Hedging Instrument, Economic Hedge [Member] - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Economic undesignated hedges:
Notional amount of derivatives	$ 107,142	$ 94,894
Interest Rate Lock Commitments [Member]
Economic undesignated hedges:
Notional amount of derivatives	34,599	11,456
Forward loan sales commitments [Member]
Economic undesignated hedges:
Notional amount of derivatives	5,023	6,418
Sale of TBA GNMA MBS pools [Member]
Economic undesignated hedges:
Notional amount of derivatives	25,500	35,000
Interest Rate Cap [Member] | Written
Economic undesignated hedges:
Notional amount of derivatives	21,010	21,010
Interest Rate Cap [Member] | Purchase
Economic undesignated hedges:
Notional amount of derivatives	$ 21,010	$ 21,010

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v3.20.1

LOANS HELD FOR INVESTMENT	3 Months Ended
	Mar. 31, 2020
Receivables [Abstract]
LOAN HELD FOR INVESTMENT [Text Block]	NOTE 7 – LOANS HELD FOR INVESTMENT   The following provides information about the loan portfolio held for investment as of the indicated dates:     As of March 31,   As of December 31,     2020   2019 (In thousands)   Residential mortgage loans, mainly secured by first mortgages $ 2,875,672   $ 2,933,773 Construction loans   159,675     111,317 Commercial mortgage loans   1,454,753     1,444,586 Commercial and Industrial loans (1)   2,236,218     2,230,876 Consumer loans   2,312,629     2,281,653 Loans held for investment   9,038,947     9,002,205 Allowance for credit losses on loans and finance leases   (292,774)     (155,139) Loans held for investment, net $ 8,746,173   $ 8,847,066               As of March 31, 2020 and December 31, 2019, includes $712.6 million and $719.0 million, respectively, of commercial loans that were secured by real estate but are not dependent upon the real estate for repayment. The following tables present by portfolio classes the amortized cost basis of loans on nonaccrual status and loans 90 days or more still accruing as of March 31, 2020 and December 31, 2019 and the interest income recognized on nonaccrual loans for the quarter ended March 31, 2020:                                               As of March 31, 2020   As of December 31, 2019 Puerto Rico and Virgin Islands region Nonaccrual Loans with No ACL   Nonaccrual Loans with ACL   Total Nonaccrual Loans   Loans Past Due 90 days or more and Still Accruing   Interest Income Recognized on Nonaccrual Loans   Total Nonaccrual Loans   Loans Past Due 90 days or more and Still Accruing (In thousands)                                                         Residential mortgage loans, mainly secured                                         by first mortgages:                                           FHA\VA government-guaranteed $ -   $ -   $ -   $ 77,637   $ -   $ -   $ 81,011   Conventional residential mortgage loans   34,603     74,117     108,720     37,968     294     108,117     40,208 Construction loans   6,991     2,672     9,663     29     20     9,782     - Commercial mortgage loans   12,687     23,266     35,953     4,072     74     40,076     2,222 Commercial and Industrial loans   5,979     13,463     19,442     6,510     32     18,458     7,061 Consumer Loans:                                         Auto loans   37     14,764     14,801     -     50     12,057     - Finance leases   -     1,925     1,925     -     11     1,354     - Personal loans   -     1,498     1,498     -     19     1,523     - Credit cards   -     -     -     4,513     -     -     4,411 Other consumer loans   1,032     3,931     4,963     -     5     5,016     - Total loans held for investment (1) (2) (3) $ 61,329   $ 135,636   $ 196,965   $ 130,729   $ 505   $ 196,383   $ 134,913 Nonaccrual loans exclude $391.9 million and $388.4 million of TDR loans that were in compliance with modified terms and in accrual status as of March 31, 2020 and December 31, 2019, respectively.Excludes PCD loans previously accounted for under ASC 310-30 for which the Corporation made the accounting policy election to maintain pools of loans accounted for under ASC 310-30 as “units of account” both at the time of adoption of ASC 326 and on an ongoing basis for credit loss measurement. These loans will accrete interest income based on the effective interest rate of the loan pools determined at the time of adoption of ASC 326 and will continue to be excluded from nonaccrual loan statistics as long as the Corporation can reasonably estimate the timing and amount of cash flows expected to be collected on the loan pools. The amortized cost of such loans as of March 31, 2020 and December 31, 2019 amounted to $134.0 million and $136.7 million, respectively.Includes 90-day past due and still accruing PCD loans previously accounted for under ASC 310-30 for which the Corporation made the accounting policy election to maintain pools of such loans both at the time of adoption of ASC 326 and on an ongoing basis for credit loss measurement. The amortized cost of 90 days past due and still accruing PCD loans as of March 31, 2020 and December 31, 2019 amounted to $25.4 million and $27.0 million, respectively.     As of March 31, 2020   As of December 31, 2019 Florida region Nonaccrual Loans with No ACL   Nonaccrual Loans with ACL   Total Nonaccrual Loans   Loans Past Due 90 days or more and Still Accruing   Interest Income Recognized on Nonaccrual Loans   Total Nonaccrual Loans   Loans Past Due 90 days or more and Still Accruing (In thousands)                                                         Residential mortgage loans, mainly secured                                         by first mortgages:                                           FHA\VA government-guaranteed $ -   $ -   $ -   $ 129   $ -   $ -   $ 129   Conventional residential mortgage loans   196     13,987     14,183     -     83     13,291     - Construction loans   -     -     -     -     -     -     - Commercial mortgage loans   -     -     -     583     -     -     - Commercial and Industrial loans   292     -     292     -     19     315     - Consumer Loans:                                         Auto loans   -     126     126     -     2     163     - Finance leases   -     -     -     -     -     -     - Personal loans   -     254     254     -     2     5     - Credit cards   -     -     -     -     -     -     - Other consumer loans   475     -     475     -     4     511     - Total loans held for investment (1) $ 963   $ 14,367   $ 15,330   $ 712   $ 110   $ 14,285   $ 129 Nonaccrual loans exclude $9.7 million and $9.9 million of TDR loans that were in compliance with modified terms and in accrual status as of March 31, 2020 and December 31, 2019, respectively.   As of March 31, 2020   As of December 31, 2019 Total Nonaccrual Loans with No ACL   Nonaccrual Loans with ACL   Total Nonaccrual Loans   Loans Past Due 90 days or more and Still Accruing   Interest Income Recognized on Nonaccrual Loans   Total Nonaccrual Loans   Loans Past Due 90 days or more and Still Accruing (In thousands)                                                                                                   Residential mortgage loans, mainly secured                                         by first mortgages:                                           FHA\VA government-guaranteed $ -   $ -   $ -   $ 77,766   $ -   $ -   $ 81,140   Conventional residential mortgage loans   34,799     88,104     122,903     37,968     377     121,408     40,208 Construction loans   6,991     2,672     9,663     29     20     9,782     - Commercial mortgage loans   12,687     23,266     35,953     4,655     74     40,076     2,222 Commercial and Industrial loans   6,271     13,463     19,734     6,510     51     18,773     7,061 Consumer Loans:                                         Auto loans   37     14,890     14,927     -     52     12,220     - Finance leases   -     1,925     1,925     -     11     1,354     - Personal loans   -     1,752     1,752     -     21     1,528     - Credit cards   -     -     -     4,513     -     -     4,411 Other consumer loans   1,507     3,931     5,438     -     9     5,527     - Total loans held for investment (1) (2) (3) $ 62,292   $ 150,003   $ 212,295   $ 131,441   $ 615   $ 210,668   $ 135,042 Nonaccrual loans exclude $401.6 million and $398.3 million of TDR loans that were in compliance with modified terms and in accrual status as of March 31, 2020 and December 31, 2019, respectively.Excludes PCD loans previously accounted for under ASC 310-30 for which the Corporation made the accounting policy election to maintain pools of loans accounted for under ASC 310-30 as “units of account” both at the time of adoption of ASC 326 and on an ongoing basis for credit loss measurement. These loans will accrete interest income based on the effective interest rate of the loan pools determined at the time of adoption of ASC 326 and will continue to be excluded from nonaccrual loan statistics as long as the Corporation can reasonably estimate the timing and amount of cash flows expected to be collected on the loan pools. The amortized cost of such loans as of March 31, 2020 and December 31, 2019 amounted to $134.0 million and $136.7 million, respectively.Includes 90-day past due and still accruing PCD loans previously accounted for under ASC 310-30 for which the Corporation made the accounting policy election to maintain pools of such loans both at the time of adoption of ASC 326 and on an ongoing basis for credit loss measurement. The amortized cost of 90 days past due and still accruing PCD loans as of March 31, 2020 and December 31, 2019 amounted to $25.4 million and $27.0 million, respectively. As of March 31, 2020, the recorded investment on residential mortgage loans collateralized by residential real estate property that were in the process of foreclosure amounted to $159.3 million, including $38.1 million of loans insured by the FHA or guaranteed by the VA, and $19.5 million of PCD loans acquired prior to the adoption, on January 1, 2020, of ASC 326 and for which the Corporation made the accounting policy election of maintaining pools of loans previously accounted for under ASC 310-30 as “units of account.” The Corporation commences the foreclosure process on residential real estate loans when a borrower becomes 120 days delinquent in accordance with the requirements of the Consumer Financial Protection Bureau (“CFPB”). Foreclosure procedures and timelines vary depending on whether the property is located in a judicial or non-judicial state. Judicial states (i.e., Puerto Rico, Florida and the USVI) require the foreclosure to be processed through the state’s court while foreclosure in non-judicial states (i.e., the BVI) is processed without court intervention. Foreclosure timelines vary according to local jurisdiction law and investor guidelines. Occasionally, foreclosures may be delayed due to, among other reasons, mandatory mediations, bankruptcy, court delays and title issues. The Corporation’s aging of the loan portfolio held for investment by portfolio classes as of March 31, 2020 is as follows:                                       As of March 31, 2020                                   Puerto Rico and Virgin Islands region 30-59 Days Past Due   60-89 Days Past Due   90 days or more Past Due (1) (2)   Total Past Due   Current   Total loans held for investment (In thousands)                                   Residential mortgage loans, mainly secured by first mortgages:                                   FHA/VA government-guaranteed loans (2) (3) (4) $ -   $ 1,956   $ 77,637   $ 79,593   $ 37,734   $ 117,327 Conventional residential mortgage loans (2) (4) (5)   -     38,129     146,688     184,817     2,016,028     2,200,845 Commercial loans:                                   Construction loans (4)   -     81     9,692     9,773     48,740     58,513 Commercial mortgage loans (4) (6)   311     348     40,025     40,684     1,038,705     1,079,389 Commercial and Industrial loans   1,714     333     25,952     27,999     1,343,429     1,371,428 Consumer loans:                                   Auto loans   23,870     2,193     14,801     40,864     1,095,410     1,136,274 Finance leases   4,418     567     1,925     6,910     422,236     429,146 Personal loans   3,980     771     1,498     6,249     266,647     272,896 Credit cards   2,019     2,358     4,513     8,890     275,184     284,074 Other consumer loans   3,903     1,395     4,963     10,261     143,753     154,014 Total loans held for investment $ 40,215   $ 48,131   $ 327,694   $ 416,040   $ 6,687,866   $ 7,103,906     Includes nonaccrual loans and accruing loans that were contractually delinquent 90 days or more (i.e., FHA/VA guaranteed loans and credit cards). Credit card loans continue to accrue finance charges and fees until charged-off at 180 days.It is the Corporation's policy to report delinquent residential mortgage loans insured by the FHA, guaranteed by the VA, and other government-insured loans as past-due loans 90 days and still accruing as opposed to nonaccrual loans since the principal repayment is insured. The Corporation continues accruing interest on these loans until they have passed the 15 months delinquency mark, taking into consideration the FHA interest curtailment process. These balances include $34.6 million of residential mortgage loans insured by the FHA that were over 15 months delinquent.As of March 31, 2020, includes $35.0 million of defaulted loans collateralizing GNMA securities for which the Corporation has an unconditional option (but not an obligation) to repurchase the defaulted loans.According to the Corporation's delinquency policy and consistent with the instructions for the preparation of the Consolidated Financial Statements for Bank Holding Companies (FR Y-9C) required by the Federal Reserve Board, residential mortgage, commercial mortgage, and construction loans are considered past due when the borrower is in arrears on two or more monthly payments. FHA/VA government-guaranteed loans, conventional residential mortgage loans, commercial mortgage loans, and construction loans past due 30-59 days as of March 31, 2020 amounted to $7.7 million, $86.8 million, $4.2 million, and $0.1 million, respectively.Includes residential mortgage loans, previously accounted for under ASC 310-30, for which the Corporation made the accounting policy election to maintain pools of loans as “units of account” both at the time of adoption of ASC 326 and on an ongoing basis for credit loss measurement, with individual delinquencies as follow: current – $104.2 million, 60-89 days past due – $3.5 million, and 90 days or more past due – $23.8 million.Includes commercial mortgage loans, previously accounted for under ASC 310-30, for which the Corporation made the accounting policy election to maintain pools of loans as “units of account” both at the time of adoption of ASC 326 and on an ongoing basis for credit loss measurement, with individual delinquencies as follow: current – $0.9 million, and 90 days or more past due – $1.6 million.                                       As of March 31, 2020                                   Florida region 30-59 Days Past Due   60-89 Days Past Due   90 days or more Past Due (1) (2)   Total Past Due   Current   Total loans held for investment (In thousands)                                   Residential mortgage loans, mainly secured by first mortgages:                                   FHA/VA government-guaranteed loans (2) (3) $ -   $ -   $ 129   $ 129   $ 1,059   $ 1,188 Conventional residential mortgage loans (3)   -     1,918     14,183     16,101     540,211     556,312 Commercial loans:                                   Construction loans   -     -     -     -     101,162     101,162 Commercial mortgage loans (3)   23     -     583     606     374,758     375,364 Commercial and Industrial loans   2,633     212     292     3,137     861,653     864,790 Consumer loans:                                   Auto loans   1,021     237     126     1,384     25,394     26,778 Finance leases   -     -     -     -     -     - Personal loans   -     -     254     254     171     425 Credit cards   -     -     -     -     -     - Other consumer loans   26     152     475     653     8,369     9,022 Total loans held for investment $ 3,703   $ 2,519   $ 16,042   $ 22,264   $ 1,912,777   $ 1,935,041     Includes nonaccrual loans and accruing loans that were contractually delinquent 90 days or more (i.e., FHA/VA guaranteed loans).It is the Corporation's policy to report delinquent residential mortgage loans insured by the FHA, guaranteed by the VA, and other government-insured loans as past-due loans 90 days and still accruing as opposed to nonaccrual loans since the principal repayment is insured. The Corporation continues accruing interest on these loans until they have passed the 15 months delinquency mark, taking into consideration the FHA interest curtailment process. No residential mortgage loans insured by the FHA in the Florida region were over 15 months delinquent as of March 31, 2020.According to the Corporation's delinquency policy and consistent with the instructions for the preparation of the Consolidated Financial Statements for Bank Holding Companies (FR Y-9C) required by the Federal Reserve Board, residential mortgage, commercial mortgage, and construction loans are considered past due when the borrower is in arrears on two or more monthly payments. FHA/VA government-guaranteed loans, conventional residential mortgage loans, and commercial mortgage loans past due 30-59 days as of March 31, 2020 amounted to $0.1 million, $12.2 million, and $0.3 million, respectively.                                       As of March 31, 2020                                   Total 30-59 Days Past Due   60-89 Days Past Due   90 days or more Past Due (1) (2)   Total Past Due   Current   Total loans held for investment (In thousands)                                   Residential mortgage loans, mainly secured by first mortgages:                                   FHA/VA government-guaranteed loans (2) (3) (4) $ -   $ 1,956   $ 77,766   $ 79,722   $ 38,793   $ 118,515 Conventional residential mortgage loans (2) (4) (5)   -     40,047     160,871     200,918     2,556,239     2,757,157 Commercial loans:                                   Construction loans (4)   -     81     9,692     9,773     149,902     159,675 Commercial mortgage loans (4) (6)   334     348     40,608     41,290     1,413,463     1,454,753 Commercial and Industrial loans   4,347     545     26,244     31,136     2,205,082     2,236,218 Consumer loans:                                   Auto loans   24,891     2,430     14,927     42,248     1,120,804     1,163,052 Finance leases   4,418     567     1,925     6,910     422,236     429,146 Personal loans   3,980     771     1,752     6,503     266,818     273,321 Credit cards   2,019     2,358     4,513     8,890     275,184     284,074 Other consumer loans   3,929     1,547     5,438     10,914     152,122     163,036 Total loans held for investment $ 43,918   $ 50,650   $ 343,736   $ 438,304   $ 8,600,643   $ 9,038,947     Includes nonaccrual loans and accruing loans that were contractually delinquent 90 days or more (i.e., FHA/VA guaranteed loans and credit cards). Credit card loans continue to accrue finance charges and fees until charged-off at 180 days.It is the Corporation's policy to report delinquent residential mortgage loans insured by the FHA, guaranteed by the VA, and other government-insured loans as past-due loans 90 days and still accruing as opposed to nonaccrual loans since the principal repayment is insured. The Corporation continues accruing interest on these loans until they have passed the 15 months delinquency mark, taking into consideration the FHA interest curtailment process. These balances include $34.6 million of residential mortgage loans insured by the FHA that were over 15 months delinquent.As of March 31, 2020, includes $35.0 million of defaulted loans collateralizing GNMA securities for which the Corporation has an unconditional option (but not an obligation) to repurchase the defaulted loans.According to the Corporation's delinquency policy and consistent with the instructions for the preparation of the Consolidated Financial Statements for Bank Holding Companies (FR Y-9C) required by the Federal Reserve Board, residential mortgage, commercial mortgage, and construction loans are considered past due when the borrower is in arrears on two or more monthly payments. FHA/VA government-guaranteed loans, conventional residential mortgage loans, commercial mortgage loans, and construction loans past due 30-59 days as of March 31, 2020 amounted to $7.8 million, $99.0 million, $4.5 million, and $0.1 million, respectively.Includes residential mortgage loans, previously accounted for under ASC 310-30, for which the Corporation made the accounting policy election to maintain pools of loans as “units of account” both at the time of adoption of ASC 326 and on an ongoing basis for credit loss measurement, with individual delinquencies as follow: current – $104.2 million, 60-89 days past due – $3.5 million, and 90 days or more past due – $23.8 million.Includes commercial mortgage loans, previously accounted for under ASC 310-30, for which the Corporation made the accounting policy election to maintain pools of loans as “units of account” both at the time of adoption of ASC 326 and on an ongoing basis for credit loss measurement, with individual delinquencies as follow: current – $0.9 million, and 90 days or more past due – $1.6 million. The Corporation’s aging of the loan portfolio held for investment by portfolio classes as of December 31, 2019 is as follows:                                       As of December 31, 2019                                   Puerto Rico and Virgin Islands region 30-59 Days Past Due   60-89 Days Past Due   90 days or more Past Due (1) (2)   Total Past Due   Current   Total loans held for investment (In thousands)                                   Residential mortgage loans, mainly secured by first mortgages:                                   FHA/VA government-guaranteed loans (2) (3) (4) $ -   $ 2,068   $ 81,011   $ 83,079   $ 39,350   $ 122,429 Conventional residential mortgage loans (2) (4) (5)   -     83,308     148,325     231,633     2,013,525     2,245,158 Commercial loans:                                   Construction loans (4)   -     105     9,782     9,887     38,359     48,246 Commercial mortgage loans (4) (6)   -     2,681     42,298     44,979     1,034,921     1,079,900 Commercial and Industrial loans   1,454     105     25,519     27,078     1,364,335     1,391,413 Consumer loans:                                   Auto loans   35,163     8,267     12,057     55,487     1,048,873     1,104,360 Finance leases   6,501     1,402     1,354     9,257     405,275     414,532 Personal loans   4,008     2,084     1,523     7,615     266,478     274,093 Credit cards   2,896     2,096     4,411     9,403     282,887     292,290 Other consumer loans   3,870     1,575     5,016     10,461     145,395     155,856 Total loans held for investment $ 53,892   $ 103,691   $ 331,296   $ 488,879   $ 6,639,398   $ 7,128,277     Includes nonaccrual loans and accruing loans that were contractually delinquent 90 days or more (i.e., FHA/VA guaranteed loans and credit cards). Credit card loans continue to accrue finance charges and fees until charged-off at 180 days.It is the Corporation's policy to report delinquent residential mortgage loans insured by the FHA, guaranteed by the VA, and other government-insured loans as past-due loans 90 days and still accruing as opposed to nonaccrual loans since the principal repayment is insured. The Corporation continues accruing interest on these loans until they have passed the 15 months delinquency mark, taking into consideration the FHA interest curtailment process. These balances include $37.9 million of residential mortgage loans insured by the FHA that were over 15 months delinquent.As of December 31, 2019, includes $35.6 million of defaulted loans collateralizing GNMA securities for which the Corporation has an unconditional option (but not an obligation) to repurchase the defaulted loans.According to the Corporation's delinquency policy and consistent with the instructions for the preparation of the Consolidated Financial Statements for Bank Holding Companies (FR Y-9C) required by the Federal Reserve Board, residential mortgage, commercial mortgage, and construction loans are considered past due when the borrower is in arrears on two or more monthly payments. FHA/VA government-guaranteed loans, conventional residential mortgage loans, commercial mortgage loans, and construction loans past due 30-59 days as of December 31, 2019 amounted to $6.7 million, $110.5 million, $6.0 million, and $0.1 million respectively.Amount includes PCD residential mortgage loans with individual delinquencies as follow: current – $101.2 million, 60-89 days past due – $7.5 million, and 90 days or more past due – $25.0 million.Amount includes PCD commercial mortgage loans with individual delinquencies as follow: current – $0.9 million, and 90 days or more past due – $2.0 million.                                       As of December 31, 2019                                   Florida region 30-59 Days Past Due   60-89 Days Past Due   90 days or more Past Due (1) (2)   Total Past Due   Current   Total loans held for investment (In thousands)                                   Residential mortgage loans, mainly secured by first mortgages:                                   FHA/VA government-guaranteed loans (2) (3) $ -   $ -   $ 129   $ 129   $ 1,351   $ 1,480 Conventional residential mortgage loans (2) (3)   -     2,193     13,291     15,484     549,222     564,706 Commercial loans:                                   Construction loans   -     -     -     -     63,071     63,071 Commercial mortgage loans (3)   -     870     -     870     363,816     364,686 Commercial and Industrial loans   331     -     315     646     838,817     839,463 Consumer loans:                                   Auto loans   1,270     272     163     1,705     28,790     30,495 Finance leases   -     -     -     -     -     - Personal loans   -     -     5     5     777     782 Credit cards   -     -     -     -     -     - Other consumer loans   147     2     511     660     8,585     9,245 Total loans held for investment $ 1,748   $ 3,337   $ 14,414   $ 19,499   $ 1,854,429   $ 1,873,928     Includes nonaccrual loans and accruing loans that were contractually delinquent 90 days or more (i.e., FHA/VA guaranteed loans and credit cards).It is the Corporation's policy to report delinquent residential mortgage loans insured by the FHA, guaranteed by the VA, and other government-insured loans as past-due loans 90 days and still accruing as opposed to nonaccrual loans since the principal repayment is insured. The Corporation continues accruing interest on these loans until they have passed the 15 months delinquency mark, taking into consideration the FHA interest curtailment process. No residential mortgage loans insured by the FHA in the Florida region were over 15 months delinquent.According to the Corporation's delinquency policy and consistent with the instructions for the preparation of the Consolidated Financial Statements for Bank Holding Companies (FR Y-9C) required by the Federal Reserve Board, residential mortgage, commercial mortgage, and construction loans are considered past due when the borrower is in arrears on two or more monthly payments. FHA/VA government-guaranteed loans, conventional residential mortgage loans, and commercial mortgage loans past due 30-59 days as of December 31, 2019 amounted to $0.4 million, $5.8 million, and $0.6 million respectively.                                       As of December 31, 2019                                   Total 30-59 Days Past Due   60-89 Days Past Due   90 days or more Past Due (1) (2)   Total Past Due   Current   Total loans held for investment (In thousands)                                   Residential mortgage loans, mainly secured by first mortgages:                                   FHA/VA government-guaranteed loans (2) (3) (4) $ -   $ 2,068   $ 81,140   $ 83,208   $ 40,701   $ 123,909 Conventional residential mortgage loans (2) (4) (5)   -     85,501     161,616     247,117     2,562,747     2,809,864 Commercial loans:                                   Construction loans (4)   -     105     9,782     9,887     101,430     111,317 Commercial mortgage loans (4) (6)   -     3,551     42,298     45,849     1,398,737     1,444,586 Commercial and Industrial loans   1,785     105     25,834     27,724     2,203,152     2,230,876 Consumer loans:                                   Auto loans   36,433     8,539     12,220     57,192     1,077,663     1,134,855 Finance leases   6,501     1,402     1,354     9,257     405,275     414,532 Personal loans   4,008     2,084     1,528     7,620     267,255     274,875 Credit cards   2,896     2,096     4,411     9,403     282,887     292,290 Other consumer loans   4,017     1,577     5,527     11,121     153,980     165,101 Total loans held for investment $ 55,640   $ 107,028   $ 345,710   $ 508,378   $ 8,493,827   $ 9,002,205     Includes nonaccrual loans and accruing loans that were contractually delinquent 90 days or more (i.e., FHA/VA guaranteed loans and credit cards). Credit card loans continue to accrue finance charges and fees until charged-off at 180 days.It is the Corporation's policy to report delinquent residential mortgage loans insured by the FHA, guaranteed by the VA, and other government-insured loans as past-due loans 90 days and still accruing as opposed to nonaccrual loans since the principal repayment is insured. The Corporation continues accruing interest on these loans until they have passed the 15 months delinquency mark, taking into consideration the FHA interest curtailment process. These balances include $37.9 million of residential mortgage loans insured by the FHA that were over 15 months delinquent.As of December 31, 2019, includes $35.6 million of defaulted loans collateralizing GNMA securities for which the Corporation has an unconditional option (but not an obligation) to repurchase the defaulted loans.According to the Corporation's delinquency policy and consistent with the instructions for the preparation of the Consolidated Financial Statements for Bank Holding Companies (FR Y-9C) required by the Federal Reserve Board, residential mortgage, commercial mortgage, and construction loans are considered past due when the borrower is in arrears on two or more monthly payments. FHA/VA government-guaranteed loans, other residential mortgage loans, commercial mortgage loans, and construction loans past due 30-59 days as of December 31, 2019 amounted to $7.1 million, $116.2 million, $6.6 million, and $0.1 million respectively.Amount includes PCD residential mortgage loans with individual delinquencies as follow: current – $101.2 million, 60-89 days past due –$7.5 million, and 90 days or more past due – $25.0 million.Amount includes PCD commercial mortgage loans with individual delinquencies as follow: current –$0.9 million, and 90 days or more past due – $2.0 million. Credit Quality Indicators:   The Corporation categorized loans into risk categories based on relevant information about the ability of the borrower to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Corporation analyzes non-homogeneous loans, such as commercial mortgage, commercial and industrial, and construction loans individually to classify the loans’ credit risk. As mentioned above, the Corporation periodically reviews its commercial and construction loan classifications to evaluate if they are properly classified. The frequency of these reviews will depend on the amount of the aggregate outstanding debt, and the risk rating classification of the obligor. In addition, during the renewal and annual review process of applicable credit facilities, the Corporation evaluates the corresponding loan grades. The Corporation uses the same definition for risk ratings as those described for Puerto Rico municipal bonds accounted for as held-to-maturity securities, as discussed in Note 5 – Investment Securities above.   For residential mortgage and consumer loans, the Corporation also evaluates credit quality based on credit scores and loan-to-value ratios, if applicable.   Based on the most recent analysis performed, the amortized cost of commercial and construction loans by portfolio classes and by origination year based on the internal credit-risk category as of March 13, 2020 and the amortized cost of commercial and construction loans by portfolio classes based on the internal credit-risk category as of December 31, 2019 was as follows:     As of March 31, 2020                 Puerto Rico and Virgin Islands Region   Term Loans               As of December 31, 2019   Amortized Cost Basis by Origination Year               (In thousands)   2020   2019   2018   2017   2016   Prior   Revolving Loans Amortized Cost Basis   Total   Total                                                         CONSTRUCTION                                                       Risk Ratings:                                                       Pass   $ 5,033   $ 13,945   $ 3,170   $ 14,629   $ 5,329   $ 3,992   $ -   $ 46,098   $ 35,680 Criticized:                                                       Special Mention     -     -     -     -     -     -     -     -     - Substandard     -     886     1,858     -     5,150     4,521     -     12,415     12,566 Doubtful     -     -     -     -     -     -     -     -     - Loss     -     -     -     -     -     -     -     -     - Total construction loans   $ 5,033   $ 14,831   $ 5,028   $ 14,629   $ 10,479   $ 8,513   $ -   $ 58,513   $ 48,246                                                         COMMERCIAL MORTGAGE                                                       Risk Ratings:                                                       Pass   $ 86,063   $ 295,273   $ 175,341   $ 42,555   $ 73,336   $ 260,877   $ 13   $ 933,458   $ 891,298 Criticized:                                                       Special Mention     284     -     -     79,998     -     11,205     -     91,487     13,080 Substandard     -     -     -     -     2,337     52,107     -     54,444     175,522 Doubtful     -     -     -     -     -     -     -     -     - Loss     -     -     -     -     -     -     -     -     - Total commercial mortgage loans   $ 86,347   $ 295,273   $ 175,341   $ 122,553   $ 75,673   $ 324,189   $ 13   $ 1,079,389   $ 1,079,900                                                         COMMERCIAL AND INDUSTRIAL                                                       Risk Ratings:                                                       Pass   $ 10,811   $ 225,388   $ 146,464   $ 138,815   $ 55,130   $ 304,636   $ 423,165   $ 1,304,409   $ 1,321,804 Criticized:                                                       Special Mention     -     -     573     933     82     9,175     8,485     19,248     39,327 Substandard     -     96     2,491     98     1,197     38,136     5,753     47,771     27,265 Doubtful     -     -     -     -     -     -     -     -     2,768 Loss     -     -     -     -     -     -     -     -     249 Total commercial and industrial loans   $ 10,811   $ 225,484   $ 149,528   $ 139,846   $ 56,409   $ 351,947   $ 437,403   $ 1,371,428   $ 1,391,413                 As of March 31, 2020                                 Term Loans               As of December 31, 2019 Florida Region               Amortized Cost Basis by Origination Year               (In thousands)   2020   2019   2018   2017   2016   Prior   Revolving Loans Amortized Cost Basis   Total   Total                                                         CONSTRUCTION                                                       Risk Ratings:                                                       Pass   $ 30,335   $ 9,744   $ 39,703   $ 17,064   $ -   $ -   $ 4,316   $ 101,162   $ 63,071 Criticized:                                                       Special Mention     -     -     -     -     -     -     -     -     - Substandard     -     -     -     -     -     -     -     -     - Doubtful     -     -     -     -     -     -     -     -     - Loss     -     -     -     -     -     -     -     -     - Total construction loans   $ 30,335   $ 9,744   $ 39,703   $ 17,064   $ -   $ -   $ 4,316   $ 101,162   $ 63,071                                                         COMMERCIAL MORTGAGE                                                       Risk Ratings:                                                       Pass   $ 1,314   $ 82,887   $ 36,929   $ 46,347   $ 52,333   $ 90,578   $ 64,661   $ 375,049   $ 364,370 Criticized:                                                       Special Mention     -     -     -     -     -     -     -     -     - Substandard     -     -     -     -     -     315     -     315     316 Doubtful     -     -     -     -     -     -     -     -     - Loss     -     -     -     -     -     -     -     -     - Total commercial mortgage loans   $ 1,314   $ 82,887   $ 36,929   $ 46,347   $ 52,333   $ 90,893   $ 64,661   $ 375,364   $ 364,686                                                         COMMERCIAL AND INDUSTRIAL                                                       Risk Ratings:                                                       Pass   $ 34,894   $ 244,020   $ 152,326   $ 164,636   $ 21,747   $ 65,450   $ 179,979   $ 863,052   $ 837,697 Criticized:                                                       Special Mention     -     -     -     -     -     -     -     -     1,766 Substandard     -     -     -     -     -     1,738     -     1,738     - Doubtful     -     -     -     -     -     -     -     -     - Loss     -     -     -     -     -     -     -     -     - Total commercial and industrial loans   $ 34,894   $ 244,020   $ 152,326   $ 164,636   $ 21,747   $ 67,188   $ 179,979   $ 864,790   $ 839,463     As of March 31, 2020                 Total   Term Loans               As of December 31, 2019     Amortized Cost Basis by Origination Year               (In thousands)   2020   2019   2018   2017   2016   Prior   Revolving Loans Amortized Cost Basis   Total   Total                                                         CONSTRUCTION                                                       Risk Ratings:                                                       Pass   $ 35,368   $ 23,689   $ 42,873   $ 31,693   $ 5,329   $ 3,992   $ 4,316   $ 147,260   $ 98,751 Criticized:                                                       Special Mention     -     -     -     -     -     -     -     -     - Substandard     -     886     1,858     -     5,150     4,521     -     12,415     12,566 Doubtful     -     -     -     -     -     -     -     -     - Loss     -     -     -     -     -     -     -     -     - Total construction loans   $ 35,368   $ 24,575   $ 44,731   $ 31,693   $ 10,479   $ 8,513   $ 4,316   $ 159,675   $ 111,317                                                         COMMERCIAL MORTGAGE                                                       Risk Ratings:                                                       Pass   $ 87,377   $ 378,159   $ 212,270   $ 88,902   $ 125,669   $ 351,455   $ 64,674   $ 1,308,506   $ 1,255,668 Criticized:                                                       Special Mention     284     -     -     79,999     -     11,205     -     91,488     13,080 Substandard     -     -     -     -     2,337     52,422     -     54,759     175,838 Doubtful     -     -     -     -     -     -     -     -     - Loss     -     -     -     -     -     -     -     -     - Total commercial mortgage loans   $ 87,661   $ 378,159   $ 212,270   $ 168,901   $ 128,006   $ 415,082   $ 64,674   $ 1,454,753   $ 1,444,586                                                         COMMERCIAL AND INDUSTRIAL                                                       Risk Ratings:                                                       Pass   $ 45,706   $ 469,408   $ 298,790   $ 303,451   $ 76,877   $ 370,085   $ 603,144   $ 2,167,461   $ 2,159,501 Criticized:                                                       Special Mention     -     -     573     933     82     9,175     8,485     19,248     39,327 Substandard     -     96     2,491     98     1,197     39,874     5,753     49,509     29,031 Doubtful     -     -     -     -     -     -     -     -     2,768 Loss     -     -     -     -     -     -     -     -     249 Total commercial and industrial loans   $ 45,706   $ 469,504   $ 301,854   $ 304,482   $ 78,156   $ 419,134   $ 617,382   $ 2,236,218   $ 2,230,876 The following table presents the amortized cost in residential mortgage loans by origination year based on original loan-to-value-ratio (LTV) and original credit scores as of March 31, 2020 and the amortized cost in residential mortgage loans by original LTV and original credit scores as of December 31, 2019:     As of March 31, 2020               As of December 31, 2019     Term Loans               RESIDENTIAL MORTGAGES   Amortized Cost Basis by Origination Year               (In thousands)   2020   2019   2018   2017   2016   Prior   Revolving Loans Amortized Cost Basis   Total   Total                                                                                                                 Puerto Rico and Virgin Islands region:                                                       FHA/VA government-guaranteed loans   $ -   $ 356   $ 2,130   $ 2,770   $ 5,739   $ 106,332   $ -   $ 117,327   $ 122,429 Conventional residential mortgage loans:                                                       Original LTV                                                       Less than or equal to 90 percent     10,306     63,081     98,430     64,562     85,527     1,331,475     -     1,653,381     1,684,340 Greater than 90 percent but less than                                                       or equal to 100 percent     163     1,567     5,073     2,414     11,432     429,446     -     450,095     460,879 Greater than 100 percent     -     926     5,497     3,138     7,323     80,485     -     97,369     99,939 Total residential mortgages in                                                       Puerto Rico and Virgin Islands region   $ 10,469   $ 65,930   $ 111,130   $ 72,884   $ 110,021   $ 1,947,738   $ -   $ 2,318,172   $ 2,367,587                                                         Florida region:                                                       FHA/VA government-guaranteed loans   $ -   $ -   $ -   $ 290   $ -   $ 898   $ -   $ 1,188   $ 1,480 Conventional residential mortgage loans:                                                       Original LTV                                                       Less than or equal to 90 percent     8,591     56,229     69,912     97,647     89,226     219,892     -     541,497     549,850 Greater than 90 percent but less than                                                       or equal to 100 percent     180     2,047     3,298     5,334     2,540     1,357     -     14,756     14,796 Greater than 100 percent     -     -     -     -     -     59     -     59     60 Total residential mortgages in Florida region   $ 8,771   $ 58,276   $ 73,210   $ 103,271   $ 91,766   $ 222,206   $ -   $ 557,500   $ 566,186                                                         Total:                                                       FHA/VA government-guaranteed loans   $ -   $ 356   $ 2,130   $ 3,060   $ 5,739   $ 107,230   $ -   $ 118,515   $ 123,909 Conventional residential mortgage loans:                                                       Original LTV                                                       Less than or equal to 90 percent     18,897     119,310     168,342     162,209     174,753     1,551,367     -     2,194,878     2,234,190 Greater than 90 percent but less than                                                       or equal to 100 percent     343     3,614     8,371     7,748     13,972     430,803     -     464,851     475,675 Greater than 100 percent     -     926     5,497     3,138     7,323     80,544     -     97,428     99,999 Total residential mortgages   $ 19,240   $ 124,206   $ 184,340   $ 176,155   $ 201,787   $ 2,169,944   $ -   $ 2,875,672   $ 2,933,773                                                             As of March 31, 2020               As of December 31, 2019     Term Loans               RESIDENTIAL MORTGAGES   Amortized Cost Basis by Origination Year               (In thousands)   2020   2019   2018   2017   2016   Prior   Revolving Loans Amortized Cost Basis   Total   Total                                                                                                                 Puerto Rico and Virgin Islands region:                                                       FHA/VA government-guaranteed loans   $ -   $ 356   $ 2,130   $ 2,770   $ 5,739   $ 106,332   $ -   $ 117,327   $ 122,429 Conventional residential mortgage loans:                                                       FICO Score                                                       Less than 620     -     -     463     1,280     75     280,356     -     282,174     286,754 Greater than or equal to 620                                                       and less than 680     89     2,223     7,359     6,920     7,781     380,022     -     404,394     416,766 Greater than or equal to 680                                                       and less than 740     4,682     23,085     40,264     21,361     35,242     492,137     -     616,771     626,291 Greater than or equal to 740     5,698     40,266     60,914     40,553     61,184     688,891     -     897,506     915,347 Total residential mortgages in                                                       Puerto Rico and Virgin Islands region   $ 10,469   $ 65,930   $ 111,130   $ 72,884   $ 110,021   $ 1,947,738   $ -   $ 2,318,172   $ 2,367,587                                                         Florida region:                                                       FHA/VA government-guaranteed loans   $ -   $ -   $ -   $ 290   $ -   $ 898   $ -   $ 1,188   $ 1,480 Conventional residential mortgage loans:                                                       FICO Score                                                       Less than 620     -     -     2,567     -     -     898     -     3,465     3,485 Greater than or equal to 620                                                       and less than 680     264     5,155     3,643     10,412     11,910     18,380     -     49,764     51,164 Greater than or equal to 680                                                       and less than 740     2,807     16,871     17,911     32,859     29,656     49,568     -     149,672     151,544 Greater than or equal to 740     5,700     36,250     49,089     59,710     50,200     152,462     -     353,411     358,513 Total residential mortgages in Florida region   $ 8,771   $ 58,276   $ 73,210   $ 103,271   $ 91,766   $ 222,206   $ -   $ 557,500   $ 566,186                                                         Total:                                                       FHA/VA government-guaranteed loans   $ -   $ 356   $ 2,130   $ 3,060   $ 5,739   $ 107,230   $ -   $ 118,515   $ 123,909 Conventional residential mortgage loans:                                                       FICO Score                                                       Less than 620     -     -     3,030     1,280     75     281,254     -     285,639     290,239 Greater than or equal to 620                                                       and less than 680     353     7,378     11,002     17,332     19,691     398,402     -     454,158     467,930 Greater than or equal to 680                                                       and less than 740     7,489     39,956     58,175     54,220     64,898     541,705     -     766,443     777,835 Greater than or equal to 740     11,398     76,516     110,003     100,263     111,384     841,353     -     1,250,917     1,273,860 Total residential mortgages   $ 19,240   $ 124,206   $ 184,340   $ 176,155   $ 201,787   $ 2,169,944   $ -   $ 2,875,672   $ 2,933,773 The following table presents the amortized cost in consumer loans by origination year based on original credit scores as of March 31, 2020 and consumer loans based on original credit scores as of December 31, 2019: CONSUMER   As of March 31, 2020                     Term Loans               As of December 31, 2019 Puerto Rico and Virgin Islands Region   Amortized Cost Basis by Origination Year               (In thousands)   2020   2019   2018   2017   2016   Prior   Revolving Loans Amortized Cost Basis   Total   Total                                                                                                                 Auto loans                                                       Original FICO score                                                       Less than 620   $ 13,484   $ 55,007   $ 29,046   $ 13,441   $ 9,764   $ 8,755   $ -   $ 129,497   $ 126,540 Greater than or equal to 620                                                       and less than 680     36,068     160,298     104,758     47,050     24,460     23,238     -     395,872     388,890 Greater than or equal to 680                                                       and less than 740     31,582     141,358     88,652     40,956     24,097     16,273     -     342,918     333,734 Greater than or equal to 740     30,328     110,340     58,096     33,387     22,474     13,362     -     267,987     255,196 Total auto loans   $ 111,462   $ 467,003   $ 280,552   $ 134,834   $ 80,795   $ 61,628   $ -   $ 1,136,274   $ 1,104,360                                                         Finance leases                                                       Original FICO score                                                       Less than 620   $ 917   $ 6,052   $ 5,140   $ 2,259   $ 737   $ 591   $ -   $ 15,696   $ 15,852 Greater than or equal to 620                                                       and less than 680     6,651     39,654     31,521     14,862     6,261     4,352     -     103,301     100,438 Greater than or equal to 680                                                       and less than 740     11,902     64,512     53,723     22,471     14,122     8,562     -     175,292     170,034 Greater than or equal to 740     10,817     54,977     38,009     11,689     12,748     6,617     -     134,857     128,208 Total finance leases   $ 30,287   $ 165,195   $ 128,393   $ 51,281   $ 33,868   $ 20,122   $ -   $ 429,146   $ 414,532                                                         Personal loans                                                       Original FICO score                                                       Less than 620   $ 840   $ 3,042   $ 2,088   $ 820   $ 718   $ 618   $ -   $ 8,126   $ 8,197 Greater than or equal to 620                                                       and less than 680     4,901     27,691     12,014     4,921     1,849     1,032     -     52,408     52,712 Greater than or equal to 680                                                       and less than 740     11,790     53,286     27,814     13,053     5,677     3,045     -     114,665     114,147 Greater than or equal to 740     8,746     40,676     26,457     12,686     6,275     2,857     -     97,697     98,668 Unscorable     -     -     -     -     -     -     -     -     369 Total personal loans   $ 26,277   $ 124,695   $ 68,373   $ 31,480   $ 14,519   $ 7,552   $ -   $ 272,896   $ 274,093                                                         Credit cards                                                       Original FICO score                                                       Less than 620   $ -   $ -   $ -   $ -   $ -   $ -   $ 10,823   $ 10,823   $ 11,247 Greater than or equal to 620                                                       and less than 680     -     -     -     -     -     -     57,032     57,032     57,643 Greater than or equal to 680                                                       and less than 740     -     -     -     -     -     -     124,289     124,289     126,977 Greater than or equal to 740     -     -     -     -     -     -     91,930     91,930     96,423 Total credit cards   $ -   $ -   $ -   $ -   $ -   $ -   $ 284,074   $ 284,074   $ 292,290                                                         Other consumer loans                                                       Original FICO score                                                       Less than 620   $ 2,887   $ 13,848   $ 3,776   $ 2,308   $ 1,046   $ 812   $ 3,608   $ 28,285   $ 28,251 Greater than or equal to 620                                                       and less than 680     7,984     33,375     9,625     5,282     2,455     7,012     1,982     67,715     68,727 Greater than or equal to 680                                                       and less than 740     5,475     19,082     6,238     3,065     1,366     3,329     3,367     41,922     41,914 Greater than or equal to 740     1,234     5,074     1,630     928     408     2,115     1,692     13,081     13,359 Unscorable     -     -     -     -     -     2,613     398     3,011     3,605 Total other consumer loans   $ 17,580   $ 71,379   $ 21,269   $ 11,583   $ 5,275   $ 15,881   $ 11,047   $ 154,014   $ 155,856                                                         Total consumer loans in Puerto Rico and Virgin Islands region   $ 185,606   $ 828,272   $ 498,587   $ 229,178   $ 134,457   $ 105,183   $ 295,121   $ 2,276,404   $ 2,241,131 CONSUMER   As of March 31, 2020                     Term Loans               As of December 31, 2019 Florida Region   Amortized Cost Basis by Origination Year               (In thousands)   2020   2019   2018   2017   2016   Prior   Revolving Loans Amortized Cost Basis   Total   Total                                                                                                                 Auto loans                                                       Original FICO score                                                       Less than 620   $ -   $ 38   $ 1,182   $ 1,070   $ 869   $ 237   $ -   $ 3,396   $ 3,857 Greater than or equal to 620                                                       and less than 680     -     625     5,286     4,316     2,122     812     -     13,161     15,052 Greater than or equal to 680                                                       and less than 740     -     538     3,991     1,886     834     266     -     7,515     8,590 Greater than or equal to 740     -     352     1,758     409     148     39     -     2,706     2,996 Total auto loans   $ -   $ 1,553   $ 12,217   $ 7,681   $ 3,973   $ 1,354   $ -   $ 26,778   $ 30,495                                                         Finance leases                                                       Original FICO score                                                       Less than 620   $ -   $ -   $ -   $ -   $ -   $ -   $ -   $ -   $ - Greater than or equal to 620                                                       and less than 680     -     -     -     -     -     -     -     -     - Greater than or equal to 680                                                       and less than 740     -     -     -     -     -     -     -     -     - Greater than or equal to 740     -     -     -     -     -     -     -     -     - Total finance leases   $ -   $ -   $ -   $ -   $ -   $ -   $ -   $ -   $ -                                                         Personal loans                                                       Original FICO score                                                       Less than 620   $ -   $ 11   $ -   $ 5   $ 250   $ -   $ -   $ 266   $ 593 Greater than or equal to 620                                                       and less than 680     10     -     -     -     -     -     -     10     - Greater than or equal to 680                                                       and less than 740     -     53     -     26     -     -     -     79     85 Greater than or equal to 740     -     -     -     70     -     -     -     70     71 Unscorable     -     -     -     -     -     -     -     -     33 Total personal loans   $ 10   $ 64   $ -   $ 101   $ 250   $ -   $ -   $ 425   $ 782                                                         Credit cards                                                       Original FICO score                                                       Less than 620   $ -   $ -   $ -   $ -   $ -   $ -   $ -   $ -   $ - Greater than or equal to 620                                                       and less than 680     -     -     -     -     -     -     -     -     - Greater than or equal to 680                                                       and less than 740     -     -     -     -     -     -     -     -     - Greater than or equal to 740     -     -     -     -     -     -     -     -     - Total credit cards   $ -   $ -   $ -   $ -   $ -   $ -   $ -   $ -   $ -                                                         Other consumer loans                                                       Original FICO score                                                       Less than 620   $ -   $ 77   $ -   $ -   $ -   $ -   $ -   $ 77   $ 83 Greater than or equal to 620                                                       and less than 680     189     -     -     109     29     631     96     1,054     874 Greater than or equal to 680                                                       and less than 740     -     -     43     51     329     1,313     780     2,516     2,559 Greater than or equal to 740     -     -     -     25     325     2,908     2,117     5,375     5,573 Unscorable     -     -     -     -     -     -     -     -     156 Total other consumer loans   $ 189   $ 77   $ 43   $ 185   $ 683   $ 4,852   $ 2,993   $ 9,022   $ 9,245                                                         Total consumer loans in Florida region   $ 199   $ 1,694   $ 12,260   $ 7,967   $ 4,906   $ 6,206   $ 2,993   $ 36,225   $ 40,522 CONSUMER   As of March 31, 2020                     Term Loans               As of December 31, 2019 Total   Amortized Cost Basis by Origination Year               (In thousands)   2020   2019   2018   2017   2016   Prior   Revolving Loans Amortized Cost Basis   Total   Total                                                                                                                 Auto loans                                                       Original FICO score                                                       Less than 620   $ 13,484   $ 55,045   $ 30,228   $ 14,511   $ 10,633   $ 8,992   $ -   $ 132,893   $ 130,397 Greater than or equal to 620                                                       and less than 680     36,068     160,923     110,044     51,366     26,582     24,050     -     409,033     403,942 Greater than or equal to 680                                                       and less than 740     31,582     141,896     92,643     42,842     24,931     16,539     -     350,433     342,324 Greater than or equal to 740     30,328     110,692     59,854     33,796     22,622     13,401     -     270,693     258,192 Total auto loans   $ 111,462   $ 468,556   $ 292,769   $ 142,515   $ 84,768   $ 62,982   $ -   $ 1,163,052   $ 1,134,855                                                         Finance leases                                                       Original FICO score                                                       Less than 620   $ 917   $ 6,052   $ 5,140   $ 2,259   $ 737   $ 591   $ -   $ 15,696   $ 15,852 Greater than or equal to 620                                                       and less than 680     6,651     39,654     31,521     14,862     6,261     4,352     -     103,301     100,438 Greater than or equal to 680                                                       and less than 740     11,902     64,512     53,723     22,471     14,122     8,562     -     175,292     170,034 Greater than or equal to 740     10,817     54,977     38,009     11,689     12,748     6,617     -     134,857     128,208 Total finance leases   $ 30,287   $ 165,195   $ 128,393   $ 51,281   $ 33,868   $ 20,122   $ -   $ 429,146   $ 414,532                                                         Personal loans                                                       Original FICO score                                                       Less than 620   $ 840   $ 3,053   $ 2,088   $ 825   $ 968   $ 618   $ -   $ 8,392   $ 8,790 Greater than or equal to 620                                                       and less than 680     4,911     27,691     12,014     4,921     1,849     1,032     -     52,418     52,712 Greater than or equal to 680                                                       and less than 740     11,790     53,339     27,814     13,079     5,677     3,045     -     114,744     114,232 Greater than or equal to 740     8,746     40,676     26,457     12,756     6,275     2,857     -     97,767     98,739 Unscorable     -     -     -     -     -     -     -     -     402 Total personal loans   $ 26,287   $ 124,759   $ 68,373   $ 31,581   $ 14,769   $ 7,552   $ -   $ 273,321   $ 274,875                                                         Credit cards                                                       Original FICO score                                                       Less than 620   $ -   $ -   $ -   $ -   $ -   $ -   $ 10,823   $ 10,823   $ 11,247 Greater than or equal to 620                                                       and less than 680     -     -     -     -     -     -     57,032     57,032     57,643 Greater than or equal to 680                                                       and less than 740     -     -     -     -     -     -     124,289     124,289     126,977 Greater than or equal to 740     -     -     -     -     -     -     91,930     91,930     96,423 Total credit cards   $ -   $ -   $ -   $ -   $ -   $ -   $ 284,074   $ 284,074   $ 292,290                                                         Other consumer loans                                                       Original FICO score                                                       Less than 620   $ 2,887   $ 13,925   $ 3,776   $ 2,308   $ 1,046   $ 812   $ 3,608   $ 28,362   $ 28,334 Greater than or equal to 620                                                       and less than 680     8,173     33,375     9,625     5,391     2,484     7,643     2,078     68,769     69,601 Greater than or equal to 680                                                       and less than 740     5,475     19,082     6,281     3,116     1,695     4,642     4,147     44,438     44,473 Greater than or equal to 740     1,234     5,074     1,630     953     733     5,023     3,809     18,456     18,932 Unscorable     -     -     -     -     -     2,613     398     3,011     3,761 Total other consumer loans   $ 17,769   $ 71,456   $ 21,312   $ 11,768   $ 5,958   $ 20,733   $ 14,040   $ 163,036   $ 165,101                                                         Total consumer loans   $ 185,805   $ 829,966   $ 510,847   $ 237,145   $ 139,363   $ 111,389   $ 298,114   $ 2,312,629   $ 2,281,653 The following tables present information about collateral dependent loans individually evaluated for purposes of determining the ACL as of March 31, 2020:                       Collateral dependent loans                     March 31, 2020                                 Collateral Dependent Loans - With Specific Allowance   Collateral Dependent Loans - With No Related Specific Allowance   Collateral Dependent Loans - Total Puerto Rico and Virgin Islands region Amortized Cost (1)   Related Specific Allowance   Amortized Cost (1)   Amortized Cost (1)   Related Specific Allowance (In thousands)                             Residential mortgage loans:                             FHA/VA government-guaranteed loans $ -   $ -   $ -   $ -   $ - Conventional residential mortgage loans   127,100     12,687     45,770     172,870     12,687 Commercial loans:                             Construction loans   -     -     9,358     9,358     - Commercial mortgage loans   21,990     5,053     41,844     63,834     5,053 Commercial and Industrial loans   12,763     5,653     17,296     30,059     5,653 Consumer loans:                             Auto loans   -     -     -     -     - Finance leases   -     -     -     -     - Personal loans   146     2     -     146     2 Credit cards   -     -     -     -     - Other consumer loans   893     68     63     956     68   $ 162,892   $ 23,463   $ 114,331   $ 277,223   $ 23,463   Excludes accrued interest receivable.     Collateral Dependent Loans - With Specific Allowance   Collateral Dependent Loans - With No Related Specific Allowance   Collateral Dependent Loans - Total Florida region Amortized Cost (1)   Related Specific Allowance   Amortized Cost (1)   Amortized Cost (1)   Related Specific Allowance (In thousands)                             Residential mortgage loans:                             FHA/VA government-guaranteed loans $ -   $ -   $ -   $ -   $ - Conventional residential mortgage loans   8,459     1,091     707     9,166     1,091 Commercial loans:                             Construction loans   -     -     -     -     - Commercial mortgage loans   -     -     5,175     5,175     - Commercial and Industrial loans   -     -     292     292     - Consumer loans:                             Auto loans   -     -     -     -     - Finance leases   -     -     -     -     - Personal loans   -     -     -     -     - Credit cards   -     -     -     -     - Other consumer loans   -     -     -     -     -   $ 8,459   $ 1,091   $ 6,174   $ 14,633   $ 1,091   Excludes accrued interest receivable.     Collateral Dependent Loans - With Specific Allowance   Collateral Dependent Loans - With No Related Specific Allowance   Collateral Dependent Loans - Total Total Amortized Cost (1)   Related Specific Allowance   Amortized Cost (1)   Amortized Cost (1)   Related Specific Allowance (In thousands)                             Residential mortgage loans:                             FHA/VA government-guaranteed loans $ -   $ -   $ -   $ -   $ - Conventional residential mortgage loans   135,559     13,778     46,477     182,036     13,778 Commercial loans:                             Construction loans   -     -     9,358     9,358     - Commercial mortgage loans   21,990     5,053     47,019     69,009     5,053 Commercial and Industrial loans   12,763     5,653     17,588     30,351     5,653 Consumer loans:                     -     - Auto loans   -     -     -     -     - Finance leases   -     -     -     -     - Personal loans   146     2     -     146     2 Credit cards   -     -     -     -     - Other consumer loans   893     68     63     956     68   $ 171,351   $ 24,554   $ 120,505   $ 291,856   $ 24,554   Excludes accrued interest receivable. The underlying collateral for residential mortgage and consumer collateral dependent loans consisted of single-family residential properties, and for commercial and construction loans consisted primarily of office buildings, multifamily residential properties, and retail establishments. The weighted-average loan-to-value coverage for collateral dependent loans as of March 31, 2020 was 86%. There were no significant changes in the extent to which collateral secures the Corporation’s collateral dependent financial assets during the first quarter of 2020. Purchases and Sales of Loans   During the first quarter of 2020, the Corporation purchased $0.8 million of residential mortgage loans as part of a strategic program to purchase ongoing residential mortgage loan production from mortgage bankers in Puerto Rico, compared to purchases of $4.3 million for the first quarter of 2019. In general, the loans purchased from mortgage bankers were conforming residential mortgage loans. Purchases of conforming residential mortgage loans provide the Corporation the flexibility to retain or sell the loans, including through securitization transactions, depending upon the Corporation’s interest rate risk management strategies. When the Corporation sells such loans, it generally keeps the servicing of the loans.   In the ordinary course of business, the Corporation sells residential mortgage loans (originated or purchased) to GNMA and GSEs such as FNMA and FHLMC, which generally securitize the transferred loans into MBS for sale into the secondary market. During the first quarter of 2020, the Corporation sold $60.9 million of FHA/VA mortgage loans to GNMA, which packaged them into MBS, compared to sales of $51.0 million for the first quarter of 2019. Also, during the first quarter of 2020, the Corporation sold approximately $32.8 million of performing residential mortgage loans to FNMA and FHLMC, compare to sales of $26.3 million for the first quarter of 2019. The Corporation’s continuing involvement in these sold loans consists primarily of servicing the loans. In addition, the Corporation agreed to repurchase loans if it breaches any of the representations and warranties included in the sale agreement. These representations and warranties are consistent with the GSEs’ selling and servicing guidelines (i.e., ensuring that the mortgage was properly underwritten according to established guidelines).   For loans sold to GNMA, the Corporation holds an option to repurchase individual delinquent loans issued on or after January 1, 2003 when the borrower fails to make any payment for three consecutive months. This option gives the Corporation the ability, but not the obligation, to repurchase the delinquent loans at par without prior authorization from GNMA.   Under ASC Topic 860, “Transfer and Servicing,” once the Corporation has the unilateral ability to repurchase the delinquent loan, it is considered to have regained effective control over the loan and is required to recognize the loan and a corresponding repurchase liability on the balance sheet regardless of the Corporation’s intent to repurchase the loan. As of March 31, 2020 and December 31, 2019, rebooked GNMA delinquent loans included in the residential mortgage loan portfolio amounted to $35.0 million and $35.6 million, respectively.   During the first quarter of 2020 and 2019, the Corporation repurchased, pursuant to its repurchase option with GNMA, $5.2 million and $4.2 million, respectively, of loans previously sold to GNMA. The principal balance of these loans is fully guaranteed and the risk of loss related to the repurchased loans is generally limited to the difference between the delinquent interest payment advanced to GNMA, which is computed at the loan’s interest rate, and the interest payments reimbursed by FHA, which are computed at a pre-determined debenture rate. Repurchases of GNMA loans allow the Corporation, among other things, to maintain acceptable delinquency rates on outstanding GNMA pools and remain as a seller and servicer in good standing with GNMA. Historically, losses for violations of representations and warranties, and on optional repurchases of GNMA delinquent loans, have been immaterial and no provision has been made at the time of sale.   Loan sales to FNMA and FHLMC are without recourse in relation to the future performance of the loans. The Corporation repurchased at par loans previously sold to FNMA and FHLMC in the amount of $41 thousand and $63 thousand during the first quarter of 2020 and 2019, respectively. The Corporation’s risk of loss with respect to these loans is also minimal as these repurchased loans are generally performing loans with documentation deficiencies.   In addition, during the first quarter of 2019, the Corporation sold $4.8 million in nonaccrual commercial loans held for sale.   Loan Portfolio Concentration   The Corporation’s primary lending area is Puerto Rico. The Corporation’s banking subsidiary, FirstBank, also lends in the USVI and BVI markets and in the United States (principally in the state of Florida). Of the total gross loans held for investment of $9.0 billion as of March 31, 2020, credit risk concentration was approximately 74% in Puerto Rico, 21% in the United States, and 5% in the USVI and BVI.   As of March 31, 2020, the Corporation had $56.6 million outstanding in loans extended to the Puerto Rico government, its municipalities and public corporations, compared to $57.7 million as of December 31, 2019. Approximately $43.0 million of the outstanding loans as of March 31, 2020 consisted of loans extended to municipalities in Puerto Rico, which in most cases are supported by assigned property tax revenues. The vast majority of revenues of the municipalities included in the Corporation’s loan portfolio are independent of the Puerto Rico central government. These municipalities are required by law to levy special property taxes in such amounts as are required for the payment of all of their respective general obligation bonds and notes. Late in 2015, the GDB and the Municipal Revenue Collection Center (“CRIM”) signed and perfected a deed of trust. Through this deed, the Puerto Rico Fiscal Agency and Financial Advisory Authority, as fiduciary, is bound to keep the CRIM funds separate from any other deposits and must distribute the funds pursuant to applicable law. The CRIM funds are deposited at another commercial depository financial institution in Puerto Rico. In addition to loans extended to municipalities, the Corporation’s loan exposure to the Puerto Rico government as of March 31, 2020 included a $13.7 million loan granted to an affiliate of PREPA.   In addition, as of March 31, 2020, the Corporation had $103.6 million in exposure to residential mortgage loans that are guaranteed by the PRHFA, compared to $106.9 million as of December 31, 2019. Residential mortgage loans guaranteed by the PRHFA are secured by the underlying properties and the guarantees serve to cover shortfalls in collateral in the event of a borrower default. The Puerto Rico government guarantees up to $75 million of the principal for all loans under the mortgage loan insurance program. According to the most recently-released audited financial statements of the PRHFA, as of June 30, 2016, the PRHFA’s mortgage loans insurance program covered loans in an aggregate of approximately $576 million. The regulations adopted by the PRHFA require the establishment of adequate reserves to guarantee the solvency of the mortgage loan insurance fund. As of June 30, 2016, the most recent date as of which information is available, the PRHFA had a restricted net position for such purposes of approximately $77.4 million.   The Corporation also has credit exposure to USVI government entities. As of March 31, 2020, the Corporation had $62.5 million in loans to USVI government instrumentalities and public corporations, compared to $64.1 million as of December 31, 2019. Of the amount outstanding as of March 31, 2020, public corporations of the USVI owed approximately $39.3 million and an independent instrumentality of the USVI government owed approximately $23.2 million. As of March 31, 2020, all loans were currently performing and up to date on principal and interest payments.   The Corporation cannot predict at this time the ultimate effect on the Puerto Rico economy, the Corporation’s clients, and the Corporation’s financial condition and results of operations of the financial problems of the Commonwealth of Puerto Rico, which may be exacerbated as a result of the COVID-19 pandemic, the uncertainty about the ultimate outcomes of the debt restructuring process, and the various legislative and other measures adopted and to be adopted by the Puerto Rico government and the PROMESA oversight board in response to such fiscal situation. Troubled Debt Restructurings   The Corporation provides homeownership preservation assistance to its customers through a loss mitigation program in Puerto Rico that is similar to the U.S. government’s Home Affordable Modification Program guidelines. Depending upon the nature of borrowers’ financial condition, restructurings or loan modifications through this program, as well as other restructurings of individual commercial, commercial mortgage, construction, and residential mortgage loans, fit the definition of a TDR. A restructuring of a debt constitutes a TDR if the creditor, for economic or legal reasons related to the debtor’s financial difficulties, grants a concession to the debtor that it would not otherwise consider. Modifications involve changes in one or more of the loan terms that bring a defaulted loan current and provide sustainable affordability. Changes may include, among others, the extension of the maturity of the loan and modifications of the loan rate. As of March 31, 2020, the Corporation’s total TDR loans held for investment of $497.3 million consisted of $311.4 million of residential mortgage loans, $82.7 million of commercial and industrial loans, $74.3 million of commercial mortgage loans, $4.3 million of construction loans, and $24.6 million of consumer loans. The Corporation has committed to lend additional amounts on these loans totaling up to $3.0 million.   The Corporation’s loss mitigation programs for residential mortgage and consumer loans can provide for one or a combination of the following: movement of interest past due to the end of the loan, extension of the loan term, deferral of principal payments and reduction of interest rates either permanently or for a period of up to six years (increasing back in step-up rates). Additionally, in certain cases, the restructuring may provide for the forgiveness of contractually-due principal or interest. Uncollected interest is added to the end of the loan term at the time of the restructuring and not recognized as income until collected or when the loan is paid off. These programs are available only to those borrowers who have defaulted, or are likely to default, permanently on their loans and would lose their homes in a foreclosure action absent some lender concession. Nevertheless, if the Corporation is not reasonably assured that the borrower will comply with its contractual commitment, the property is foreclosed.   Prior to permanently modifying a loan, the Corporation may enter into trial modifications with certain borrowers. Trial modifications generally represent a six-month period during which the borrower makes monthly payments under the anticipated modified payment terms prior to a formal modification. Upon successful completion of a trial modification, the Corporation and the borrower enter into a permanent modification. TDR loans that are participating in or that have been offered a binding trial modification are classified as TDRs when the trial offer is made and continue to be classified as TDRs regardless of whether the borrower enters into a permanent modification. As of March 31, 2020, the Corporation included as TDRs $2.2 million of residential mortgage loans that were participating in or had been offered a trial modification.   For the commercial real estate, commercial and industrial, and construction loan portfolios, at the time of a restructuring, the Corporation determines, on a loan-by-loan basis, whether a concession was granted for economic or legal reasons related to the borrower’s financial difficulty. Concessions granted for loans in these portfolios could include: reductions in interest rates to rates that are considered below market; extension of repayment schedules and maturity dates beyond original contractual terms; waivers of borrower covenants; forgiveness of principal or interest; or other contractual changes that are considered to be concessions. The Corporation mitigates loan defaults for these loan portfolios through its collection function. The function’s objective is to minimize both early stage delinquencies and losses upon default of loans in these portfolios. In the case of the commercial and industrial, commercial mortgage, and construction loan portfolios, the Corporation’s Special Asset Group (“SAG”) focuses on strategies for the accelerated reduction of non-performing assets through note sales, short sales, loss mitigation programs, and sales of OREO.   In addition, the Corporation extends, renews, and restructures loans with satisfactory credit profiles. Many commercial loan facilities are structured as lines of credit, which generally have one-year terms and, therefore, are required to be renewed annually. Other facilities may be restructured or extended from time to time based upon changes in the borrower’s business needs, use of funds, and timing of completion of projects, and other factors. If the borrower is not deemed to have financial difficulties, extensions, renewals, and restructurings are done in the normal course of business and not considered concessions, and the loans continue to be recorded as performing.   In working with borrowers affected by the COVID-19 outbreak, the Corporation has agreed to let consumer borrowers defer payments on their loans (i.e., residential mortgage, personal loans, auto loans, finance leases and small loans) for a period up to June 30, 2020, with the possibility of a further extension up to August 31, 2020, if needed, as long as the borrowers were current in their payments or no more than 2 payments in arrears (not having exceeded 89 days past due as of March 16, 2020), and who did not make their payment corresponding to the month of March. In the case of credit cards and individual lines of credit, the borrowers were required to be current or less than 29 days past due in their payments as of March 16, 2020 to qualify for the payment deferral program. For both consumer and residential mortgage loans subject to the deferral programs, each borrower is required to begin making their regularly scheduled loan payment at the end of the deferral period and the deferred amounts were moved to the end of the loan. The payment deferral programs were applied prospectively beginning, in some instances, with the scheduled contractual payment due in March. For commercial loans, any request for payment deferral is analyzed on a case by case basis. As of May 7, 2020, the Corporation has under deferred payment arrangements approximately 7,064 residential mortgage loans totaling $931.5 million, 93,629 consumer loans totaling $1.0 billion, and 741 commercial and construction loans totaling $1.8 billion. These short-term modifications made in response to COVID-19 pandemic to qualifying borrowers are not considered TDR loans.   Selected information on the Corporation’s TDR loans held for investment based on the amortized cost by loan class and modification type is summarized in the following tables as of the indicated dates:     As of March 31, 2020 Puerto Rico and Virgin Islands region Interest rate below market   Maturity or term extension   Combination of reduction in interest rate and extension of maturity   Forgiveness of principal and/or interest   Forbearance Agreement     Other (1)   Total (In thousands)                                           TDRs:                                           Conventional residential mortgage loans $ 18,096   $ 11,566   $ 214,077   $ -   $ 223     $ 63,921   $ 307,883 Construction loans   23     2,436     1,634     -     -       182     4,275 Commercial mortgage loans   890     1,404     38,850     -     19,776       7,933     68,853 Commercial and industrial loans   561     14,786     11,481     -     19,056       36,543     82,427 Consumer loans:                                           Auto loans   -     705     6,622     -     -       6,766     14,093 Finance leases   -     33     897     -     -       621     1,551 Personal loans   24     36     773     -     -       241     1,074 Credit cards   -     -     2,733     21     -       -     2,754 Other consumer loans   1,938     1,146     742     177     -       340     4,343 Total Troubled Debt Restructurings in Puerto Rico                                           and Virgin Islands region $ 21,532   $ 32,112   $ 277,809   $ 198   $ 39,055     $ 116,547   $ 487,253 Other concessions granted by the Corporation include deferral of principal and/or interest payments for a period longer than what would be considered insignificant, payment plans under judicial stipulation, or a combination of the concession listed in the table.     As of March 31, 2020 Florida region Interest rate below market   Maturity or term extension   Combination of reduction in interest rate and extension of maturity   Forgiveness of principal and/or interest   Forbearance Agreement     Other (1)   Total (In thousands)                                           TDRs:                                           Conventional residential mortgage loans $ 1,002   $ 410   $ 2,037   $ -   $ -     $ 31   $ 3,480 Construction loans   -     -     -     -     -       -     - Commercial mortgage loans   2,876     855     1,748     -     -       -     5,479 Commercial and industrial loans   -     -     -     -     -       292     292 Consumer loans:                                           Auto loans   -     74     19     -     -       -     93 Finance leases   -     -     -     -     -       -     - Personal loans   -     -     -     -     -       -     - Credit cards   -     -     -     -     -       -     - Other consumer loans   37     -     181     -     -       480     698 Total Troubled Debt Restructurings in Florida Region $ 3,915   $ 1,339   $ 3,985   $ -   $ -     $ 803   $ 10,042 Other concessions granted by the Corporation include deferral of principal and/or interest payments for a period longer than what would be considered insignificant, payment plans under judicial stipulation, or a combination of the concession listed in the table.     As of March 31, 2020 Total Interest rate below market   Maturity or term extension   Combination of reduction in interest rate and extension of maturity   Forgiveness of principal and/or interest   Forbearance Agreement     Other (1)   Total (In thousands)                                           TDRs:                                           Conventional residential mortgage loans $ 19,098   $ 11,976   $ 216,114   $ -   $ 223     $ 63,952   $ 311,363 Construction loans   23     2,436     1,634     -     -       182     4,275 Commercial mortgage loans   3,766     2,259     40,598     -     19,776       7,933     74,332 Commercial and industrial loans   561     14,786     11,481     -     19,056       36,835     82,719 Consumer loans:                                           Auto loans   -     779     6,641     -     -       6,766     14,186 Finance leases   -     33     897     -     -       621     1,551 Personal loans   24     36     773     -     -       241     1,074 Credit cards   -     -     2,733     21     -       -     2,754 Other consumer loans   1,975     1,146     923     177     -       820     5,041 Total Troubled Debt Restructurings $ 25,447   $ 33,451   $ 281,794   $ 198   $ 39,055     $ 117,350   $ 497,295 Other concessions granted by the Corporation include deferral of principal and/or interest payments for a period longer than what would be considered insignificant, payment plans under judicial stipulation, or a combination of the concession listed in the table.                                                   As of December 31, 2019 Puerto Rico and Virgin Islands region Interest rate below market   Maturity or term extension   Combination of reduction in interest rate and extension of maturity   Forgiveness of principal and/or interest   Forbearance Agreement     Other (1)   Total (In thousands)                                           TDRs:                                           Conventional residential mortgage loans $ 18,561   $ 11,188   $ 219,618   $ -   $ 142     $ 63,638   $ 313,147 Construction loans   24     2,469     1,639     -     -       189     4,321 Commercial mortgage loans   909     1,414     39,131     -     19,848       8,149     69,451 Commercial and industrial loans   579     16,160     12,077     142     692       36,884     66,534 Consumer loans:                                           Auto loans   -     801     7,374     -     -       6,249     14,424 Finance leases   -     40     1,066     -     -       426     1,532 Personal loans   26     43     845     -     -       159     1,073 Credit cards   -     -     2,767     24     -       -     2,791 Other consumer loans   2,020     1,196     770     180     -       337     4,503 Total Troubled Debt Restructurings in Puerto Rico                                           and Virgin Island region $ 22,119   $ 33,311   $ 285,287   $ 346   $ 20,682     $ 116,031   $ 477,776                                               Other concessions granted by the Corporation include deferral of principal and/or interest payments for a period longer than what would be considered insignificant, payment plans under judicial stipulation, or a combination of the concession listed in the table.                                                   As of December 31, 2019 Florida region Interest rate below market   Maturity or term extension   Combination of reduction in interest rate and extension of maturity   Forgiveness of principal and/or interest   Forbearance Agreement     Other (1)   Total (In thousands)                                           TDRs:                                           Conventional residential mortgage loans $ 1,009   $ 412   $ 2,049   $ -   $ -     $ 32   $ 3,502 Construction loans   -     -     -     -     -       -     - Commercial mortgage loans   2,901     862     1,765     -     -       -     5,528 Commercial and industrial loans   -     -     -     -     -       315     315 Consumer loans:                                           Auto loans   -     97     19     -     -       -     116 Finance leases   -     -     -     -     -       -     - Personal loans   -     -     -     -     -       -     - Credit cards   -     -     -     -     -       -     - Other consumer loans   39     -     183     -     -       538     760 Total Troubled Debt Restructurings in Florida region $ 3,949   $ 1,371   $ 4,016   $ -   $ -     $ 885   $ 10,221 Other concessions granted by the Corporation include deferral of principal and/or interest payments for a period longer than what would be considered insignificant, payment plans under judicial stipulation, or a combination of the concession listed in the table.                                                   As of December 31, 2019 Total Interest rate below market   Maturity or term extension   Combination of reduction in interest rate and extension of maturity   Forgiveness of principal and/or interest   Forbearance Agreement     Other (1)   Total (In thousands)                                           TDRs:                                           Conventional residential mortgage loans $ 19,570   $ 11,600   $ 221,667   $ -   $ 142     $ 63,670   $ 316,649 Construction loans   24     2,469     1,639     -     -       189     4,321 Commercial mortgage loans   3,810     2,276     40,896     -     19,848       8,149     74,979 Commercial and industrial loans   579     16,160     12,077     142     692       37,199     66,849 Consumer loans:                                           Auto loans   -     898     7,393     -     -       6,249     14,540 Finance leases   -     40     1,066     -     -       426     1,532 Personal loans   26     43     845     -     -       159     1,073 Credit cards   -     -     2,767     24     -       -     2,791 Other consumer loans   2,059     1,196     953     180     -       875     5,263 Total Troubled Debt Restructurings $ 26,068   $ 34,682   $ 289,303   $ 346   $ 20,682     $ 116,916   $ 487,997                                               Other concessions granted by the Corporation include deferral of principal and/or interest payments for a period longer than what would be considered insignificant, payment plans under judicial stipulation, or a combination of the concession listed in the table. The following table presents the Corporation's TDR loans held for investment activity for the indicated periods:                   Quarter Ended     March 31, 2020   March 31, 2019 (In thousands)           Beginning balance of TDRs $ 487,997   $ 582,647 New TDRs   23,125     25,459 Increases to existing TDRs   103     1,175 Charge-offs post modification   (2,337)     (2,821) Foreclosures   (1,611)     (3,643) Paid-off, partial payments and other   (9,982)     (13,022) Ending balance of TDRs $ 497,295   $ 589,795                             TDR loans are classified as either accrual or nonaccrual loans. Loans in accrual status may remain in accrual status when their contractual terms have been modified in a TDR if the loans had demonstrated performance prior to the restructuring and payment in full under the restructured terms is expected. Otherwise, loans on nonaccrual status and restructured as a TDR will remain on nonaccrual status until the borrower has proven the ability to perform under the modified structure, generally for a minimum of six months, and there is evidence that such payments can, and are likely to, continue as agreed. Performance prior to the restructuring, or significant events that coincide with the restructuring, are included in assessing whether the borrower can meet the new terms and may result in the loan being returned to accrual status at the time of the restructuring or after a shorter performance period. If the borrower’s ability to meet the revised payment schedule is uncertain, the loan remains classified as a nonaccrual loan. Loan modifications increase the Corporation’s interest income by returning a nonaccrual loan to performing status, if applicable, increase cash flows by providing for payments to be made by the borrower, and limit increases in foreclosure and OREO costs. A TDR loan that specifies an interest rate that at the time of the restructuring is greater than or equal to the rate the Corporation is willing to accept for a new loan with comparable risk may not be reported as a TDR in the calendar years subsequent to the restructuring, if it is in compliance with its modified terms. The Corporation did not remove any loans from the TDR classification during 2020 and 2019. The following tables provide a breakdown of the TDR loans held for investment by those in accrual and nonaccrual status as of the indicated periods:                                             March 31, 2020 Puerto Rico and             Virgin Islands region   Florida region   Total   Accrual Nonaccrual Total TDRs   Accrual Nonaccrual Total TDRs   Accrual Nonaccrual (1) Total TDRs (In thousands)                                         Conventional residential mortgage loans $ 253,077 $ 54,806 $ 307,883   $ 3,420 $ 60 $ 3,480   $ 256,497 $ 54,866 $ 311,363 Construction loans   3,200   1,075   4,275     -   -   -     3,200   1,075   4,275 Commercial mortgage loans   45,193   23,660   68,853     5,479   -   5,479     50,672   23,660   74,332 Commercial and industrial loans   73,531   8,896   82,427     -   292   292     73,531   9,188   82,719 Consumer loans:                                         Auto loans   7,928   6,165   14,093     93   -   93     8,021   6,165   14,186 Finance leases   1,544   7   1,551     -   -   -     1,544   7   1,551 Personal loans   1,052   22   1,074     -   -   -     1,052   22   1,074 Credit Cards   2,754   -   2,754     -   -   -     2,754   -   2,754 Other consumer loans   3,671   672   4,343     661   37   698     4,332   709   5,041 Total Troubled Debt Restructurings $ 391,950 $ 95,303 $ 487,253   $ 9,653 $ 389 $ 10,042   $ 401,603 $ 95,692 $ 497,295 Included in nonaccrual loans are $16.3 million in loans that are performing under the terms of the restructuring agreement but are reported in nonaccrual status until the restructured loans meet the criteria of sustained payment performance under the revised terms for reinstatement to accrual status and are deemed fully collectible.                                             December 31, 2019 Puerto Rico and             Virgin Islands region   Florida region   Total   Accrual Nonaccrual Total TDRs   Accrual Nonaccrual Total TDRs   Accrual Nonaccrual (1) Total TDRs (In thousands)                                         Conventional residential mortgage loans $ 262,244 $ 50,903 $ 313,147   $ 3,502 $ - $ 3,502   $ 265,746 $ 50,903 $ 316,649 Construction loans   3,238   1,083   4,321     -   -   -     3,238   1,083   4,321 Commercial mortgage loans   45,534   23,917   69,451     5,528   -   5,528     51,062   23,917   74,979 Commercial and industrial loans   59,689   6,845   66,534     -   315   315     59,689   7,160   66,849 Consumer loans:                                         Auto loans   8,440   5,984   14,424     116   -   116     8,556   5,984   14,540 Finance leases   1,502   30   1,532     -   -   -     1,502   30   1,532 Personal loans   1,052   21   1,073     -   -   -     1,052   21   1,073 Credit Cards   2,791   -   2,791     -   -   -     2,791   -   2,791 Other consumer loans   3,898   605   4,503     723   37   760     4,621   642   5,263 Total Troubled Debt Restructurings $ 388,388 $ 89,388 $ 477,776   $ 9,869 $ 352 $ 10,221   $ 398,257 $ 89,740 $ 487,997 Included in nonaccrual loans are $14.8 million in loans that are performing under the terms of the restructuring agreement but are reported in nonaccrual status until the restructured loans meet the criteria of sustained payment performance under the revised terms for reinstatement to accrual status and are deemed fully collectible.TDR loans exclude restructured residential mortgage loans that are government-guaranteed (e.g., FHA/VA loans) totaling $55.8 million as of March 31, 2020 (compared with $60.1 million as of December 31, 2019). The Corporation excludes FHA/VA guaranteed loans from TDR loan statistics given that, in the event that the borrower defaults on the loan, the principal and interest (at the specified debenture rate) are guaranteed by the U.S. government; therefore, the risk of loss on these types of loans is very low. Loan modifications that are considered TDR loans completed during the first quarter of 2020 and 2019 were as follows:                                                 March 31, 2020                                                 Number of contracts   Pre-modification Amortized Cost   Post-modification Amortized Cost   Number of contracts   Pre-modification Amortized Cost   Post-modification Amortized Cost   Number of contracts   Pre-modification Amortized Cost   Post-modification Amortized Cost (Dollars in thousands)                                               TDRs:                                               Conventional residential mortgage loans 32   $ 3,124   $ 2,560   -   $ -   $ -   32   $ 3,124   $ 2,560 Construction loans -     -     -   -     -     -   -     -     - Commercial mortgage loans 2     75     81   -     -     -   2     75     81 Commercial and industrial loans 3     18,386     18,386   -     -     -   3     18,386     18,386 Consumer loans:                                               Auto loans 81     1,241     1,235   -     -     -   81     1,241     1,235 Finance leases 21     284     284   -     -     -   21     284     284 Personal loans 13     113     111   -     -     -   13     113     111 Credit Cards 57     280     280   -     -     -   57     280     280 Other consumer loans 64     180     188   -     -     -   64     180     188 Total Troubled Debt Restructurings 273   $ 23,683   $ 23,125   -   $ -   $ -   273   $ 23,683   $ 23,125                                                 March 31, 2019                                                 Number of contracts   Pre-modification Amortized Cost   Post-modification Amortized Cost   Number of contracts   Pre-modification Amortized Cost   Post-modification Amortized Cost   Number of contracts   Pre-modification Amortized Cost   Post-modification Amortized Cost (Dollars in thousands)                                               TDRs:                                               Conventional residential mortgage loans 29   $ 3,178   $ 3,191   -   $ -   $ -   29   $ 3,178   $ 3,191 Construction loans 1     12     12   -     -     -   1     12     12 Commercial mortgage loans 3     22,510     20,334   -     -     -   3     22,510     20,334 Commercial and industrial loans 4     107     106   -     -     -   4     107     106 Consumer loans:                                               Auto loans 59     914     914   3     33     33   62     947     947 Finance leases 7     159     159   -     -     -   7     159     159 Personal loans 20     204     204   -     -     -   20     204     204 Credit Cards 29     168     168   -     -     -   29     168     168 Other consumer loans 99     320     338   -     -     -   99     320     338 Total Troubled Debt Restructurings 251   $ 27,572   $ 25,426   3   $ 33   $ 33   254   $ 27,605   $ 25,459 Recidivism, or the borrower defaulting on its obligation pursuant to a modified loan, results in the loan once again becoming a nonaccrual loan. Recidivism on a modified loan occurs at a notably higher rate than do defaults on new origination loans, so modified loans present a higher risk of loss than do new origination loans. The Corporation considers a loan to have defaulted if the borrower has failed to make payments of either principal, interest, or both for a period of 90 days or more. Loan modifications considered TDR loans that defaulted during the quarters ended March 31, 2020 and March 31, 2019, and had become TDR during the 12 months preceding the default date, were as follows:                       Quarter ended March 31,   2020   2019 Puerto Rico and Virgin Islands region Number of contracts   Amortized Cost   Number of contracts   Amortized Cost (Dollars in thousands)                   Conventional residential mortgage loans 6   $ 1,889   -   $ - Construction loans -     -   -     - Commercial mortgage loans -     -   -     - Commercial and industrial loans 1     35   -     - Consumer loans:                   Auto loans 10     176   20     251 Finance leases 1     5   -     - Personal loans 1     7   -     - Credit cards 5     14   -     - Other consumer loans 29     108   18     47 Total Puerto Rico and Virgin Islands region 53   $ 2,234   38   $ 298                                           Quarter ended March 31,   2020   2019 Florida region Number of contracts   Amortized Cost   Number of contracts   Amortized Cost (Dollars in thousands)                   Conventional residential mortgage loans -   $ -   -   $ - Construction loans -     -   -     - Commercial mortgage loans -     -   -     - Commercial and industrial loans -     -   -     - Consumer loans:                   Auto loans -     -   -     - Finance leases -     -   -     - Personal loans -     -   -     - Credit cards -     -   -     - Other consumer loans -     -   -     - Total in Florida region -   $ -   -   $ -                                           Quarter ended March 31,   2020   2019 Total Number of contracts   Amortized Cost   Number of contracts   Amortized Cost (Dollars in thousands)                   Conventional residential mortgage loans 6   $ 1,889   -   $ - Construction loans -     -   -     - Commercial mortgage loans -     -   -     - Commercial and industrial loans 1     35   -     - Consumer loans:                   Auto loans 10     176   20     251 Finance leases 1     5   -     - Personal loans 1     7   -     - Credit cards 5     14   -     - Other consumer loans 29     108   18     47 Total 53   $ 2,234   38   $ 298                     For certain TDR loans, the Corporation splits the loans into two new notes, A and B Notes. The A Note is restructured to comply with the Corporation’s lending standards at current market rates, and is tailored to suit the customer’s ability to make timely interest and principal payments. The B Note includes the granting of the concession to the borrower and varies by situation. The B Note is fully charged off but the borrower’s obligation is not forgiven, and payments that are collected are accounted for as recoveries of previously charged-off amounts. A partial charge-off may be recorded if the B Note is collateral dependent and the source of repayment is independent of the A Note. At the time of the restructuring, the A Note is identified and classified as a TDR loan. If the loan performs for at least six months according to the modified terms, the A Note may be returned to accrual status. The borrower’s payment performance prior to the restructuring is included in assessing whether the borrower can meet the new terms and may result in the loan being returned to accrual status at the time of the restructuring. In the periods following the calendar year in which a loan is restructured, the A Note may no longer be reported as a TDR loan if it is in accrual status, is in compliance with its modified terms, and yields a market rate (as determined and documented at the time of the restructuring).   The following table provides additional information about the volume of this type of loan restructuring as of March 31, 2020 and March 31, 2019, and the effect on the allowance for credit losses in the first quarter of 2020 and 2019:     Quarter ended   Quarter ended   March 31, 2020   March 31, 2019 (In thousands) Commercial Mortgage loans   Commercial and Industrial loans   Construction loans   Total   Commercial Mortgage loans   Commercial and Industrial loans   Construction loans   Total Beginning balance of A/B Notes $ 22,749   $ 26,596   $ 1,883   $ 51,228   $ 3,003   $ 28,406   $ 2,431   $ 33,840 New TDR loan splits   -     -     -     -     20,059     -     -     20,059 Paid-off and partial payments   (97)     (200)     (25)     (322)     (30)     (230)     (71)     (331) Ending balance of A/B Notes $ 22,652   $ 26,396   $ 1,858   $ 50,906   $ 23,032   $ 28,176   $ 2,360   $ 53,568                                                                                                                                                           Quarter ended   Quarter ended     March 31, 2020   March 31, 2019 (In thousands) Commercial Mortgage loans   Commercial and Industrial loans   Construction loans   Total   Commercial Mortgage loans   Commercial and Industrial loans   Construction loans   Total Allowance for credit losses at the                                               beginning of the period for A/B Notes $ 3,516   $ 14   $ -   $ 3,530   $ -   $ 473   $ -   $ 473 Impact of adopting ASC 326   (415)     89     -     (326)     -     -     -     - Charges (releases) to the provision                                               for credit losses   15     (102)     -     (87)     611     (124)     -     487 Allowance for credit losses at the                                               end of the period for A/B Notes $ 3,116   $ 1   $ -   $ 3,117   $ 611   $ 349   $ -   $ 960 Approximately $39.4 million of the loans restructured using the A/B Note restructure workout strategy were in accrual status as of March 31, 2020.

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- Definition The entire disclosure for claims held for amounts due a company, excluding disclosure for allowance for credit losses. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Also excludes disclosure for financing receivables. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 + Details Name: us-gaap_LoansNotesTradeAndOtherReceivablesExcludingAllowanceForCreditLossesTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

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v3.20.1

OTHER BORROWINGS - Components of Other Borrowings (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Subordinated Borrowing [Line Items]
Junior subordinated debentures	$ 184,150	$ 184,150
Junior Subordinated Debt [Member]
Subordinated Borrowing [Line Items]
Junior subordinated debentures	184,150	184,150
Junior Subordinated Debt [Member] | due June 17, 2034 [Member] | Statutory Trust One [Member]
Subordinated Borrowing [Line Items]
Junior subordinated debentures	65,593	65,593
Junior Subordinated Debt [Member] | due September 20, 2034 [Member] | Statutory Trust Two [Member]
Subordinated Borrowing [Line Items]
Junior subordinated debentures	$ 118,557	$ 118,557

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- Definition Including the current and noncurrent portions, the carrying value of junior subordinated long-term debt owed to unconsolidated subsidiary trusts as of the balance sheet date. Such debt places a lender in a lien position behind debt having a higher priority of repayment in liquidation of the entity's assets and was initially scheduled to be repaid after one year or beyond the normal operating cycle if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.16) -URI http://asc.fasb.org/extlink&oid=119400593&loc=d3e572229-122910 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.16) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details Name: us-gaap_JuniorSubordinatedDebentureOwedToUnconsolidatedSubsidiaryTrust Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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v3.20.1

REGULATORY MATTERS, COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
REGULATORY MATTERS, COMMITMENTS AND CONTINGENCIES [Text Block]	NOTE 28 – REGULATORY MATTERS, COMMITMENTS AND CONTINGENCIES   The Corporation and FirstBank are each subject to various regulatory capital requirements imposed by the federal banking agencies. Failure to meet minimum capital requirements can result in certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material adverse effect on the Corporation’s financial statements and activities. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Corporation must meet specific capital guidelines that involve quantitative measures of the Corporation’s and FirstBank’s assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The Corporation’s capital amounts and classification are also subject to qualitative judgments and adjustment by the regulators with respect to minimum capital requirements, components, risk weightings, and other factors. As of March 31, 2020 and December 31, 2019, the Corporation and FirstBank exceeded the minimum regulatory capital ratios for capital adequacy purposes and FirstBank exceeded the minimum regulatory capital ratios to be considered a well-capitalized institution under the regulatory framework for prompt corrective action. As of March 31, 2020, management does not believe that any condition has changed or event has occurred that would have changed the institution’s status.   Although the Corporation and FirstBank became subject to the U.S. Basel III capital rules (“Basel III rules”) beginning on January 1, 2015, certain elements of the Basel III have been deferred by the federal banking agencies. The Corporation and FirstBank compute risk-weighted assets using the Standardized Approach required by the Basel III rules.   The Basel III rules require the Corporation to maintain an additional capital conservation buffer of 2.5% to avoid limitations on both (i) capital distributions (e.g., repurchases of capital instruments, dividends and interest payments on capital instruments) and (ii) discretionary bonus payments to executive officers and heads of major business lines.   Under the Basel III rules, in order to be considered adequately capitalized and not subject to the above described limitations, the Corporation is required to maintain: (i) a minimum Common Equity Tier 1 Capital (“CET1”) capital to risk-weighted assets ratio of at least 4.5%, plus the 2.5% “capital conservation buffer,” resulting in a required minimum CET1 ratio of at least 7%; (ii) a minimum ratio of total Tier 1 capital to risk-weighted assets of at least 6.0%, plus the 2.5% capital conservation buffer, resulting in a required minimum Tier 1 capital ratio of 8.5%; (iii) a minimum ratio of total Tier 1 plus Tier 2 capital to risk-weighted assets of at least 8.0%, plus the 2.5% capital conservation buffer, resulting in a required minimum total capital ratio of 10.5%; and (iv) a required minimum leverage ratio of 4%, calculated as the ratio of Tier 1 capital to average on-balance sheet (non-risk adjusted) assets.   The Federal Reserve Board, the FDIC, and the Office of the Comptroller of the Currency (collectively “the agencies”) have issued several rulemakings over the last two years to simplify certain aspects of the capital rule. For example, the capital rule included transitional arrangements for mortgage servicing assets, temporary difference deferred tax assets, and investments in the capital of unconsolidated financial institutions that a banking organization did not deduct from CET1 capital. In 2017, the agencies adopted a transition rule to allow non-advanced approaches banking organizations, such as the Corporation and FirstBank, to continue to apply the transition treatment in effect in 2017 (including the 100 percent risk weight for mortgage servicing assets, temporary difference deferred tax assets, and significant investments in the capital of unconsolidated financial institutions, instead of the 250 percent risk weight required under the Basel III rules) while the agencies considered the simplifications proposal.   On July 9, 2019, the agencies adopted a final rule that supersedes the regulatory capital transition rules and eliminates the transition provisions that are no longer operative. The final rule was generally effective April 1, 2020, with early adoption permitted on January 1, 2020 and eliminates: (i) the 10% CET1 capital deduction threshold, which applies individually to holdings of mortgage servicing assets, temporary difference deferred tax assets, and significant investments in the capital of unconsolidated financial institutions in the form of common stock; (ii) the 15% common equity tier 1 capital deduction threshold, which applies to the aggregate amount of such items; (iii) the 10% threshold for non-significant investments, which applies to holdings of regulatory capital of unconsolidated financial institutions; and (iv) the deduction treatment for significant investments in the capital of unconsolidated financial institutions that are not in the form of common stock. Instead, the final rule requires non-advanced approaches banking organizations to deduct from CET1 capital any amount of mortgage servicing assets, temporary difference deferred tax assets, and investments in the capital of unconsolidated financial institutions that individually exceeds 25% of CET1 capital of the banking organization (the 25% CET1 capital deduction threshold). The final rule retains the requirement that a banking organization must apply a 250% risk weight to non-deducted mortgage servicing assets or temporary difference deferred tax assets.   As part of its response to the impact of COVID-19, on March 31, 2020, the Federal Reserve, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency issued an interim final rule that provided the option to temporarily delay the effects of CECL on regulatory capital for two years, followed by a three-year transition period. The interim final rule provides that the day 1 impact to retained earnings plus 25% of the change in the ACL (excluding PCD loans) from January 1, 2020 to December 31, 2021 will be delayed for two years and phased-in at 25% per year beginning on January 1, 2022. Accordingly, as of March 31, 2020, the capital measures of the Corporation and the Bank exclude the $62.3 million day 1 impact to retained earnings and 25% of the increase in the allowance for credit losses (as defined in the interim final rule) from January 1, 2020 to March 31, 2020. The federal financial regulatory agencies may take other measures affecting regulatory capital to address the COVID-19 pandemic, although the nature and impact of such measures cannot be predicted at this time.   The regulatory capital positions of the Corporation and FirstBank as of March 31, 2020, which reflects the delay in the effect of CECL on regulatory capital, and December 31, 2019 were as follows:                                         Regulatory Requirements                                         Actual   For Capital Adequacy Purposes   To be Well-Capitalized Thresholds                 Amount   Ratio   Amount   Ratio   Amount   Ratio                                   (Dollars in thousands)                               As of March 31, 2020                             Total Capital (to                             Risk-Weighted Assets)                             First BanCorp. $ 2,305,042   25.42%   $ 725,557   8.0%     N/A   N/A FirstBank $ 2,259,012   24.91%   $ 725,384   8.0%   $ 906,730   10.0% Common Equity Tier 1 Capital                             (to Risk-Weighted Assets)                             First BanCorp. $ 1,976,105   21.79%   $ 408,126   4.5%     N/A   N/A FirstBank $ 1,836,831   20.26%   $ 408,029   4.5%   $ 589,375   6.5% Tier I Capital (to                             Risk-Weighted Assets)                             First BanCorp. $ 2,012,209   22.19%   $ 544,168   6.0%     N/A   N/A FirstBank $ 2,144,831   23.65%   $ 544,038   6.0%   $ 725,384   8.0% Leverage ratio                             First BanCorp. $ 2,012,209   15.98%   $ 503,686   4.0%     N/A   N/A FirstBank $ 2,144,831   17.05%   $ 503,138   4.0%   $ 628,923   5.0%                                   As of December 31, 2019                             Total Capital (to                             Risk-Weighted Assets)                             First BanCorp. $ 2,286,337   25.22%   $ 725,236   8.0%     N/A   N/A FirstBank $ 2,242,262   24.74%   $ 725,047   8.0%   $ 906,309   10.0% Common Equity Tier 1 Capital                             (to Risk-Weighted Assets)                             First BanCorp. $ 1,957,887   21.60%   $ 407,946   4.5%     N/A   N/A FirstBank $ 1,820,571   20.09%   $ 407,839   4.5%   $ 589,101   6.5% Tier I Capital (to                             Risk-Weighted Assets)                             First BanCorp. $ 1,993,991   22.00%   $ 543,927   6.0%     N/A   N/A FirstBank $ 2,128,571   23.49%   $ 543,785   6.0%   $ 725,047   8.0% Leverage ratio                             First BanCorp. $ 1,993,991   16.15%   $ 493,786   4.0%     N/A   N/A FirstBank $ 2,128,571   17.26%   $ 493,242   4.0%   $ 616,552   5.0%                                   The Corporation enters into financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments may include commitments to extend credit and standby letters of credits. Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any conditions established in the contract. Commitments generally have fixed expiration dates or other termination clauses. Since certain commitments are expected to expire without being drawn upon, the total commitment amount does not necessarily represent future cash requirements. For most of the commercial lines of credit, the Corporation has the option to reevaluate the agreement prior to additional disbursements. In the case of credit cards and personal lines of credit, the Corporation can cancel the unused credit facility at any time and without cause. As of March 31, 2020, commitments to extend credit amounted to approximately $1.4 billion, of which $692.4 million relates to credit card loans. Commercial and financial standby letters of credit amounted to approximately $73.9 million. As of the date hereof, the amount of draws from unfunded loan commitments has not increased significantly due to the COVID-19 pandemic.   As of March 31, 2020, First BanCorp. and its subsidiaries were defendants in various legal proceedings, claims and other loss contingencies arising in the ordinary course of business. On at least a quarterly basis, the Corporation assesses its liabilities and contingencies in connection with threatened and outstanding legal proceedings, claims and other loss contingencies utilizing the latest information available. For legal proceedings, claims and other loss contingencies where it is both probable that the Corporation will incur a loss and the amount can be reasonably estimated, the Corporation establishes an accrual for the loss. Once established, the accrual is adjusted as appropriate to reflect any relevant developments. For legal proceedings, claims and other loss contingencies where a loss is not probable or the amount of the loss cannot be estimated, no accrual is established.   Any estimate involves significant judgment, given the varying stages of the proceedings (including the fact that some of them are currently in preliminary stages), the existence in some of the current proceedings of multiple defendants whose share of liability has yet to be determined, the numerous unresolved issues in the proceedings, and the inherent uncertainty of the various potential outcomes of such proceedings. Accordingly, the Corporation’s estimate will change from time-to-time, and actual losses may be more or less than the current estimate.   While the final outcome of legal proceedings, claims and other loss contingencies is inherently uncertain, based on information currently available, management believes that the final disposition of the Corporation’s legal proceedings, claims and other loss contingencies, to the extent not previously provided for, will not have a material adverse effect on the Corporation’s consolidated financial position as a whole.   If management believes that, based on available information, it is at least reasonably possible that a material loss (or material loss in excess of any accrual) will be incurred in connection with any legal contingencies, the Corporation discloses an estimate of the possible loss or range of loss, either individually or in the aggregate, as appropriate, if such an estimate can be made, or discloses that an estimate cannot be made. Based on the Corporation’s assessment as of March 31, 2020, no such disclosures were necessary.

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v3.20.1

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE - Securities Sold Under Agreements to Repurchase (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase agreements	$ 300,000	$ 100,000
long term debt [member]
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase agreements	$ 300,000	$ 100,000

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v3.20.1

ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) - Summary of Advances from FHLB (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
FederalHomeLoanBankAdvancesLineItems
Advances From Federal Home Loan Banks	$ 565,000	$ 570,000
short term debt [member]
FederalHomeLoanBankAdvancesLineItems
Advances From Federal Home Loan Banks	$ 30,000	$ 35,000
Federal Home Loan Bank, Advance, Branch of FHLB Bank, Interest Rate, Type [Fixed List]	Fixed	Fixed
long term debt [member]
FederalHomeLoanBankAdvancesLineItems
Advances From Federal Home Loan Banks	$ 535,000	$ 535,000
Federal Home Loan Bank, Advance, Branch of FHLB Bank, Interest Rate, Type [Fixed List]	Fixed	Fixed

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v3.20.1

FAIR VALUE	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE [Text Block]	NOTE 24 – FAIR VALUE   Fair Value Measurement   The FASB authoritative guidance for fair value measurement defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. This guidance also establishes a fair value hierarchy for classifying financial instruments. The hierarchy is based on whether the inputs to the valuation techniques used to measure fair value are observable or unobservable. One of three levels of inputs may be used to measure fair value: Level 1 Valuations of Level 1 assets and liabilities are obtained from readily-available pricing sources for market transactions involving identical assets or liabilities. Level 1 assets and liabilities include equity securities that trade in an active exchange market, as well as certain U.S. Treasury and other U.S. government and agency securities and corporate debt securities that are traded by dealers or brokers in active markets. Level 2 Valuations of Level 2 assets and liabilities are based on observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets and liabilities include (i) MBS for which the fair value is estimated based on the value of identical or comparable assets, (ii) debt securities with quoted prices that are traded less frequently than exchange-traded instruments, and (iii) derivative contracts whose value is determined using a pricing model with inputs that are observable in the market or can be derived principally from or corroborated by observable market data. Level 3 Valuations of Level 3 assets and liabilities are based on unobservable inputs that are supported by little or no market activity and are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined by using pricing models for which the determination of fair value requires significant management judgments as to the estimation.     Financial Instruments Recorded at Fair Value on a Recurring Basis   Investment securities available for sale and marketable equity securities held at fair value   The fair value of investment securities was the market value based on quoted market prices (as is the case with U.S. Treasury notes, non-callable U.S. agencies debt securities, and equity securities with readily determinable fair values), when available (Level 1), or, when available, market prices for identical or comparable assets (as is the case with MBS and callable U.S. agency debt securities) that are based on observable market parameters, including benchmark yields, reported trades, quotes from brokers or dealers, issuer spreads, bids, offers and reference data, including market research operations (Level 2). Observable prices in the market already consider the risk of nonperformance. If listed prices or quotes are not available, fair value is based upon discounted cash flow models that use unobservable inputs due to the limited market activity of the instrument, as is the case with certain private label MBS held by the Corporation (Level 3).   Derivative instruments   The fair value of most of the Corporation’s derivative instruments is based on observable market parameters and takes into consideration the credit risk component of paying counterparties, when appropriate. On interest caps, only the seller's credit risk is considered. The Corporation valued the caps using a discounted cash flow approach based on the related LIBOR and swap rate for each cash flow.   The Corporation considers a credit spread for those derivative instruments that are not secured. The cumulative mark-to-market effect of credit risk in the valuation of derivative instruments for the quarters ended March 31, 2020 and 2019 was immaterial. Assets and liabilities measured at fair value on a recurring basis are summarized below as of March 31, 2020 and December 31, 2019:                                                       As of March 31, 2020   As of December 31, 2019     Fair Value Measurements Using   Fair Value Measurements Using   (In thousands) Level 1   Level 2   Level 3   Assets/Liabilities at Fair Value   Level 1   Level 2   Level 3   Assets/Liabilities at Fair Value                                                   Assets:                                               Securities available for sale :                                               U.S. Treasury Securities $ 7,582   $ -   $ -   $ 7,582   $ 7,479   $ -   $ -   $ 7,479 Noncallable U.S. agency debt securities   -     146,154     -     146,154     -     146,777     -     146,777 Callable U.S. agencies                                               debt securities and MBS   -     1,760,312     -     1,760,312     -     1,950,331     -     1,950,331 Puerto Rico government obligations   -     4,361     2,969     7,330     -     4,348     2,974     7,322 Private label MBS   -     -     10,300     10,300     -     -     11,116     11,116 Other investments   -     -     500     500     -     -     500     500 Equity securities   1,458     -     -     1,458     1,428     -     -     1,428 Derivatives, included in assets:                                               Purchased interest rate cap agreements   -     9     -     9     -     11     -     11 Interest rate lock commitments   -     303     -     303     -     341     -     341 Forward loan sales commitments   -     20     -     20     -     20     -     20 Liabilities:                                               Derivatives, included in liabilities:                                               Written interest rate cap agreements   -     9     -     9     -     11     -     11 Forward contracts   -     803     -     803     -     138     -     138                                                   The table below presents a reconciliation of the beginning and ending balances of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the quarters ended March 31, 2020 and 2019:     Quarter ended March 31,     2020   2019 Level 3 Instruments Only Securities   Securities (In thousands) Available For Sale(1)   Available For Sale(1)               Beginning balance $ 14,590     17,238 Total (losses) gains (realized/unrealized):           Included in other comprehensive income   240     (23) Included in earnings   (368)     - Principal repayments and amortization   (693)     (509) Ending balance $ 13,769   $ 16,706     Amounts mostly related to private label MBS. The table below presents qualitative information for significant assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as of March 31, 2020 and December 31, 2019:                           March 31, 2020                 Range   Weighted Average (In thousands) Fair Value   Valuation Technique   Unobservable Input   Minimum Maximum                           Investment securities available-for-sale:       Private label MBS $ 10,300   Discounted cash flows   Discount rate   12.7% 12.7%   12.7%             Prepayment rate   6.8% 10.3%   7.9%             Projected Cumulative Loss Rate   2.6% 20.7%   8.9% Puerto Rico government obligations   2,969   Discounted cash flows   Discount rate   8.1% 8.1%   8.1%   Prepayment rate   3.0% 3.0%   3.0%                                                                           December 31, 2019                 Range   Weighted (In thousands) Fair Value   Valuation Technique   Unobservable Input   Minimum Maximum   Average                         Investment securities available-for-sale:       Private label MBS $ 11,116   Discounted cash flows   Discount rate   13.7% 13.7%   13.7%             Prepayment rate   6.8% 10.3%   7.9%             Projected Cumulative Loss Rate   0.0% 7.4%   2.8% Puerto Rico government obligations   2,974   Discounted cash flows   Discount rate   6.9% 6.9%   6.9%   Prepayment rate   3.0% 3.0%   3.0%                                                 Information about Sensitivity to Changes in Significant Unobservable Inputs   Private label MBS: The significant unobservable inputs in the valuation include probability of default, the loss severity assumption, and prepayment rates. Shifts in those inputs would result in different fair value measurements. Increases in the probability of default, loss severity assumptions, and prepayment rates in isolation would generally result in an adverse effect on the fair value of the instruments. The Corporation modeled meaningful and possible shifts of each input to assess the effect on the fair value estimation.   Puerto Rico Government Obligations: The significant unobservable input used in the fair value measurement is the assumed prepayment rate of the underlying residential mortgage loans that collateralize these obligations, which are guaranteed by the PRHFA. A significant increase (decrease) in the assumed rate would lead to a higher (lower) fair value estimate. The fair value of these bonds was based on a discounted cash flow analysis that contemplates the credit quality of the holder of second mortgages and a discount for liquidity constraints on the bonds considering the absence of an active market for them. Due to the guarantee of the PRHFA and other applicable contractual safeguards, the Corporation does not apply any additional credit spread for debt service default.   The table below summarizes changes in unrealized gains and losses recorded in earnings for the quarters ended March 31, 2020 and 2019 for Level 3 assets and liabilities that were still held at the end of each period:           Changes in Unrealized Losses Level 3 Instruments Only Quarter ended March 31, (In thousands) 2020   2019 Changes in unrealized losses relating to assets still held at reporting date:           Provision for credit losses $ (368)   $ -     Additionally, fair value is used on a nonrecurring basis to evaluate certain assets in accordance with GAAP. Adjustments to fair value usually result from the application of lower-of-cost or market accounting (e.g., loans held for sale carried at the lower-of-cost or fair value and repossessed assets) or write-downs of individual assets (e.g., goodwill and loans). As of March 31, 2020, the Corporation recorded losses or valuation adjustments for assets recognized at fair value on a non-recurring basis as shown in the following table:                               Carrying value as of March 31, 2020   Losses recorded for the Quarter Ended March 31, 2020     Level 1   Level 2   Level 3       (In thousands)                                                 Loans receivable (1) $ -   $ -   $ 291,856   $ (6,393) OREO (2)   -     -     99,674     (654)                           Consists mainly of collateral dependent commercial and construction loans. The Corporation generally measured losses based on the fair value of the collateral. The Corporation derived the fair values from external appraisals that took into consideration prices in observed transactions involving similar assets in similar locations but adjusted for specific characteristics and assumptions of the collateral (e.g., absorption rates), which are not market observable.The Corporation derived the fair values from appraisals that took into consideration prices in observed transactions involving similar assets in similar locations but adjusted for specific characteristics and assumptions of the properties (e.g., absorption rates and net operating income of income producing properties), which are not market observable. Losses were related to market valuation adjustments after the transfer of the loans to the OREO portfolio. As of March 31, 2019, the Corporation recorded losses or valuation adjustments for assets recognized at fair value on a non-recurring basis as shown in the following table:                               Carrying value as of March 31, 2019   Losses recorded for the Quarter Ended March 31, 2019     Level 1   Level 2   Level 3       (In thousands)                                                                           Loans receivable (1) $ -   $ -   $ 366,773   $ (8,863) OREO (2)   -     -     129,716     (2,643) Loans held for sale (3)   -     -     7,381     -                           Consists mainly of collateral dependent commercial and construction loans. The Corporation generally measured losses based on the fair value of the collateral. The Corporation derived the fair values from external appraisals that took into consideration prices in observed transactions involving similar assets in similar locations but adjusted for specific characteristics and assumptions of the collateral (e.g., absorption rates), which are not market observable.The Corporation derived the fair values from appraisals that took into consideration prices in observed transactions involving similar assets in similar locations but adjusted for specific characteristics and assumptions of the properties (e.g., absorption rates and net operating income of income producing properties), which are not market observable. Losses were related to market valuation adjustments after the transfer of the loans to the OREO portfolio.Represents nonaccrual commercial and construction loans transferred to held for sale in 2018 and still in inventory at period-end. The Corporation derived the fair value of these loans primarily from broker price opinions that the Corporation considered. Qualitative information regarding the fair value measurements for Level 3 financial instruments as of March 31, 2020 are as follows:           March 31, 2020   Method   Inputs Loans Income, Market, Comparable Sales, Discounted Cash Flows   External appraised values; probability weighting of broker price opinions; management assumptions regarding market trends or other relevant factors OREO Income, Market, Comparable Sales, Discounted Cash Flows   External appraised values; probability weighting of broker price opinions; management assumptions regarding market trends or other relevant factors The following tables present the carrying value, estimated fair value and estimated fair value level of the hierarchy of financial instruments as of March 31, 2020 and December 31, 2019:                                 Total Carrying Amount in Statement of Financial Condition March 31, 2020   Fair Value Estimate March 31, 2020   Level 1   Level 2   Level 3 (In thousands)                                                           Assets:                             Cash and due from banks and money                             market investments (amortized cost) $ 1,087,715   $ 1,087,715   $ 1,087,715   $ -   $ - Investment securities available                             for sale (fair value)   1,932,178     1,932,178     7,582     1,910,827     13,769 Investment securities held to maturity (amortized cost)   138,534                         Less: allowance for credit losses on                             held to maturity debt securities   (9,268)                         Investment securities held to maturity, net of allowance $ 129,266     111,162     -     -     111,162 Equity Securities (fair value)   39,630     39,630     1,458     38,172     - Loans held for sale (lower of cost or market)   12,046     12,445     -     12,445     - Loans held for investment (amortized cost)   9,038,947                         Less: allowance for credit losses for loans and finance leases   (292,774)                         Loans held for investment, net of allowance $ 8,746,173     8,711,957     -     -     8,711,957 Derivatives, included in assets (fair value)   332     332     -     332     -                               Liabilities:                             Deposits (amortized cost)   9,562,313     9,602,663     -     9,602,663     - Loans payable (amortized cost)   60,000     60,000     -     60,000     - Securities sold under agreements                             to repurchase (amortized cost)   300,000     331,551     -     331,551     - Advances from FHLB (amortized cost)   565,000     576,096     -     576,096     - Other borrowings (amortized cost)   184,150     156,193     -     -     156,193 Derivatives, included in liabilities (fair value)   812     812     -     812     -   Total Carrying Amount in Statement of Financial Condition December 31, 2019   Fair Value Estimate December 31, 2019   Level 1   Level 2   Level 3 (In thousands)                                                           Assets:                             Cash and due from banks and money                             market investments (amortized cost) $ 644,099   $ 644,099   $ 644,099   $ -   $ - Investment securities available                             for sale (fair value)   2,123,525     2,123,525     7,479     2,101,456     14,590 Investment securities held to maturity (amortized cost)   138,675     110,374     -     -     110,374 Equity securities (fair value)   38,249     38,249     1,428     36,821     - Loans held for sale (lower of cost or market)   39,477     40,234     -     40,234     - Loans held for investment (amortized cost)   9,002,205                         Less: allowance for credit losses for loans and finance leases   (155,139)                         Loans held for investment, net of allowance $ 8,847,066     8,715,144     -     -     8,715,144 Derivatives, included in assets (fair value)   372     372     -     372     -                               Liabilities:                             Deposits (amortized cost)   9,348,429     9,372,591     -     9,372,591     - Securities sold under agreements                             to repurchase (amortized cost)   100,000     120,020     -     120,020     - Advances from FHLB (amortized cost)   570,000     578,498     -     578,498     - Other borrowings (amortized cost)   184,150     180,577     -     -     180,577 Derivatives, included in liabilities (fair value)   149     149     -     149     - The short-term nature of certain assets and liabilities result in their carrying value approximating fair value. These include cash and cash due from banks and other short-term assets, such as FHLB stock. Certain assets, the most significant being premises and equipment, mortgage servicing rights, core deposit, and other customer relationship intangibles, are not considered financial instruments and are not included above. Accordingly, this fair value information is not intended to, and does not, represent the Corporation’s underlying value. Many of these assets and liabilities that are subject to the disclosure requirements are not actively traded, requiring management to estimate fair values. These estimates necessarily involve the use of assumptions and judgment about a wide variety of factors, including but not limited to, relevancy of market prices of comparable instruments, expected futures cash flows, and appropriate discount rates.

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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details Name: us-gaap_FairValueDisclosuresTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

v3.20.1

ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LEASES - Activity in ACL on loans and finance leases (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Jan. 01, 2020
Financing Receivable Allowance For Credit Losses [Line Items]
Beginning balance	$ 155,139	$ 196,362
Provision (release) for credit losses	74,045	11,820
Charge-offs	(20,195)	(28,360)
Recoveries	2,620	3,910
Ending balance	292,774	183,732
ASC 326 | Cumulative Effect Period Of Adoption Adjustment [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Impact of adopting ASC 326 on Loans and Finance leases			$ 81,165
Residential Portfolio Segment [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Beginning balance	44,806	50,794
Provision (release) for credit losses	16,218	6,639
Charge-offs	(4,435)	(6,173)
Recoveries	656	626
Ending balance	107,082	51,886
Residential Portfolio Segment [Member] | ASC 326 | Cumulative Effect Period Of Adoption Adjustment [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Impact of adopting ASC 326 on Loans and Finance leases			49,837
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Beginning balance	15,198	32,546
Provision (release) for credit losses	8,391	(5,009)
Charge-offs	(125)	(6,311)
Recoveries	115	1,095
Ending balance	38,310	22,321
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ASC 326 | Cumulative Effect Period Of Adoption Adjustment [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Impact of adopting ASC 326 on Loans and Finance leases			14,731
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Beginning balance	39,194	55,581
Provision (release) for credit losses	14,167	121
Charge-offs	(128)	(2,400)
Recoveries	44	128
Ending balance	33,971	53,430
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ASC 326 | Cumulative Effect Period Of Adoption Adjustment [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Impact of adopting ASC 326 on Loans and Finance leases			(19,306)
Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Beginning balance	2,370	3,592
Provision (release) for credit losses	2,062	(95)
Charge-offs	(3)	(207)
Recoveries	27	41
Ending balance	5,253	3,331
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ASC 326 | Cumulative Effect Period Of Adoption Adjustment [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Impact of adopting ASC 326 on Loans and Finance leases			797
Consumer Portfolio Segment [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Beginning balance	53,571	53,849
Provision (release) for credit losses	33,207	10,164
Charge-offs	(15,504)	(13,269)
Recoveries	1,778	2,020
Ending balance	$ 108,158	$ 52,764
Consumer Portfolio Segment [Member] | ASC 326 | Cumulative Effect Period Of Adoption Adjustment [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Impact of adopting ASC 326 on Loans and Finance leases			$ 35,106

X

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- Definition Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953423-111524 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118955202&loc=SL82895884-210446 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(7)(d)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 + Details Name: us-gaap_FinancingReceivableAllowanceForCreditLosses Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition Amount of recovery of financing receivables doubtful of collection that were previously charged off. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 79 -URI http://asc.fasb.org/extlink&oid=118955255&loc=SL82922352-210448 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(7)(d)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Subparagraph (c)(4) -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953423-111524 + Details Name: us-gaap_FinancingReceivableAllowanceForCreditLossesRecovery Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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v3.20.1

LOANS HELD FOR SALE - Portfolio of Loans Held for Sale (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Accounts Notes And Loans Receivable [Line Items]
Loans Receivable Held For Sale Net	$ 12,046	$ 39,477
Residential Portfolio Segment [Member]
Accounts Notes And Loans Receivable [Line Items]
Loans Receivable Held For Sale Net	$ 12,046	$ 39,477

X

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v3.20.1

NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS	3 Months Ended
	Mar. 31, 2020
Transfers and Servicing [Abstract]
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS [Text Block]	NOTE 15 – NON-CONSOLIDATED VARIABLE INTEREST ENTITIES (“VIE”) AND SERVICING ASSETS   The Corporation transfers residential mortgage loans in sale or securitization transactions in which it has continuing involvement, including servicing responsibilities and guarantee arrangements. All such transfers have been accounted for as sales as required by applicable accounting guidance.   When evaluating the need to consolidate counterparties to which the Corporation has transferred assets, or with which the Corporation has entered into other transactions, the Corporation first determines if the counterparty is an entity for which a variable interest exists. If no scope exception is applicable and a variable interest exists, the Corporation then evaluates whether it is the primary beneficiary of the VIE and whether the entity should be consolidated or not.   Below is a summary of transactions with VIEs for which the Corporation has retained some level of continuing involvement:   GNMA   The Corporation typically transfers first lien residential mortgage loans in conjunction with GNMA securitization transactions in which the loans are exchanged for cash or securities that are readily redeemed for cash proceeds and servicing rights. The securities issued through these transactions are guaranteed by GNMA and, under seller/servicer agreements, the Corporation is required to service the loans in accordance with the issuers’ servicing guidelines and standards. As of March 31, 2020, the Corporation serviced loans securitized through GNMA with a principal balance of $1.9 billion.   Trust-Preferred Securities   In 2004, FBP Statutory Trust I, a financing trust that is wholly owned by the Corporation, sold to institutional investors $100 million of its variable-rate trust-preferred securities (“TRuPs”). FBP Statutory Trust I used the proceeds of the issuance, together with the proceeds of the purchase by the Corporation of $3.1 million of FBP Statutory Trust I variable-rate common securities, to purchase $103.1 million aggregate principal amount of the Corporation’s Junior Subordinated Deferrable Debentures. Also in 2004, FBP Statutory Trust II, a financing trust that is wholly owned by the Corporation, sold to institutional investors $125 million of its variable-rate TRuPs. FBP Statutory Trust II used the proceeds of the issuance, together with the proceeds of the purchase by the Corporation of $3.9 million of FBP Statutory Trust II variable-rate common securities, to purchase $128.9 million aggregate principal amount of the Corporation’s Junior Subordinated Deferrable Debentures. The debentures are presented in the Corporation’s consolidated statements of financial condition as other borrowings, net of related issuance costs. The variable-rate TRuPs are fully and unconditionally guaranteed by the Corporation. The Junior Subordinated Deferrable Debentures issued by the Corporation in April 2004 and September 2004 mature on June 17, 2034 and September 20, 2034, respectively; however, under certain circumstances, the maturity of Junior Subordinated Deferrable Debentures may be shortened (such shortening would result in a mandatory redemption of the variable-rate TRuPs).   The Collins Amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act eliminated certain TRuPs from Tier 1 Capital; however, these instruments may remain in Tier 2 capital until the instruments are redeemed or mature. Under the indentures, the Corporation has the right, from time to time, and without causing an event of default, to defer payments of interest on the Junior Subordinated Deferrable Debentures by extending the interest payment period at any time and from time to time during the term of the subordinated debentures for up to twenty consecutive quarterly periods. As of March 31, 2020, the Corporation was current on all interest payments due on its subordinated debt.     Private Label MBS   During 2004 and 2005, an unaffiliated party, referred to in this subsection as the seller, established a series of statutory trusts to effect the securitization of mortgage loans and the sale of trust certificates (“private label MBS”). The seller initially provided the servicing for a fee, which is senior to the obligations to pay private label MBS holders. The seller then entered into a sales agreement through which it sold and issued the private label MBS in favor of the Corporation’s banking subsidiary. Currently, the Bank is the sole owner of the private label MBS; the servicing of the underlying residential mortgages that generate the principal and interest cash flows is performed by another third party, which receives a servicing fee. These private label MBS are variable-rate securities indexed to 90-day LIBOR plus a spread. The principal payments from the underlying loans are remitted to a paying agent (servicer), who then remits interest to the Bank. Interest income is shared to a certain extent with the FDIC, which has an interest only strip (“IO”) tied to the cash flows of the underlying loans and is entitled to receive the excess of the interest income less a servicing fee over the variable rate income that the Bank earns on the securities. This IO is limited to the weighted-average coupon on the securities. The FDIC became the owner of the IO upon its intervention of the seller, a failed financial institution. No recourse agreement exists, and the Bank, as the sole holder of the securities, absorbs all risks from losses on non-accruing loans and repossessed collateral. As of March 31, 2020, the amortized cost and fair value of these private label MBS amounted to $15.4 million and $10.3 million, respectively, with a weighted-average yield of 3.45%, which is included as part of the Corporation’s available-for-sale investment securities portfolio. As described in Note 5 – Investment Securities above, the Corporation established a $0.4 million ACL on these private label MBS during 2020.   Investment in unconsolidated entity   On February 16, 2011, FirstBank sold an asset portfolio consisting of performing and nonaccrual construction, commercial mortgage and commercial and industrial loans with an aggregate book value of $269.3 million to CPG/GS, an entity organized under the laws of the Commonwealth of Puerto Rico and majority owned by PRLP Ventures LLC (“PRLP”), a company created by Goldman, Sachs & Co. and Caribbean Property Group. In connection with the sale, the Corporation received $88.5 million in cash and a 35% interest in CPG/GS, and made a loan in the amount of $136.1 million representing seller financing provided by FirstBank. The loan was refinanced and consolidated with other outstanding loans of CPG/GS in the second quarter of 2018 and was paid in full in October 2019. FirstBank’s equity interest in CPG/GS is accounted for under the equity method. FirstBank recorded a loss on its interest in CPG/GS in 2014 that reduced to zero the carrying amount of the Bank’s investment in CPG/GS. No negative investment needs to be reported as the Bank has no legal obligation or commitment to provide further financial support to this entity; thus, no further losses have been or will be recorded on this investment.   CPG/GS has used cash proceeds on the loan to cover operating expenses and debt service payments, including those related to the refinanced loan that was paid off in October 2019. FirstBank will not receive any return on its equity interest until PRLP receives an aggregate amount equivalent to its initial investment and a priority return of at least 12%, which has not occurred, resulting in FirstBank’s interest in CPG/GS being subordinate to PRLP’s interest. CPG/GS will then begin to make payments pro rata to PRLP and FirstBank, 35% and 65%, respectively, until FirstBank has achieved a 12% return on its invested capital and the aggregate amount of distributions is equal to FirstBank’s capital contributions to CPG/GS.   The Bank has determined that CPG/GS is a VIE in which the Bank is not the primary beneficiary. In determining the primary beneficiary of CPG/GS, the Bank considered applicable guidance that requires the Bank to qualitatively assess the determination of the primary beneficiary (or consolidator) of CPG/GS based on whether it has both the power to direct the activities of CPG/GS that most significantly affect the entity’s economic performance and the obligation to absorb losses of, or the right to receive benefits from, CPG/GS that could potentially be significant to the VIE. The Bank determined that it does not have the power to direct the activities that most significantly impact the economic performance of CPG/GS as it does not have the right to manage or influence the loan portfolio, foreclosure proceedings, or the construction and sale of the property; therefore, the Bank concluded that it is not the primary beneficiary of CPG/GS. Servicing Assets   The Corporation sells residential mortgage loans to GNMA, which generally securitizes the transferred loans into MBS. Also, certain conventional conforming loans are sold to FNMA or FHLMC with servicing retained. The Corporation recognizes as separate assets the rights to service loans for others, whether those servicing assets are originated or purchased. Servicing assets are included as part of Other assets in the consolidated statements of financial condition. The changes in servicing assets are shown below for the indicated periods:                       Quarter ended       March 31,   March 31,       2020   2019   (In thousands)             Balance at beginning of period $ 26,762   $ 27,428   Capitalization of servicing assets   904     868   Amortization   (1,009)     (810)   Temporary impairment charges, net   (138)     (20)   Other (1)   (35)     (35)   Balance at end of period $ 26,484   $ 27,431                   (1) Amount represents adjustments related to the repurchase of loans serviced for others. Impairment charges are recognized through a valuation allowance for each individual stratum of servicing assets. The valuation allowance is adjusted to reflect the amount, if any, by which the cost basis of the servicing asset for a given stratum of loans being serviced exceeds its fair value. Any fair value in excess of the cost basis of the servicing asset for a given stratum is not recognized. Changes in the impairment allowance were as follows for the indicated periods:                 Quarter ended     March 31,   March 31,     2020   2019   (In thousands)             Balance at beginning of period $ 73   $ 30   Temporary impairment charges   138     24   OTTI of servicing assets   (77)     -   Recoveries   -     (4)   Balance at end of period $ 134   $ 50   The components of net servicing income, included as part of mortgage banking activities in the consolidated statements of income, are shown below for the indicated periods:                     Quarter ended       March 31,   March 31,       2020   2019   (In thousands)     Servicing fees $ 2,134   $ 2,060   Late charges and prepayment penalties   150     154   Adjustment for loans repurchased   (35)     (35)   Other   -     (15)   Servicing income, gross   2,249     2,164   Amortization and impairment of servicing assets   (1,147)     (830)   Servicing income, net $ 1,102   $ 1,334                         The Corporation’s servicing assets are subject to prepayment and interest rate risks. As of March 31, 2020, fair values of the Corporation’s servicing assets were based on a valuation model that incorporates market-driven assumptions regarding discount rates and mortgage prepayment rates, adjusted by the particular characteristics of the Corporation’s servicing portfolio. The Corporation used constant prepayment rate assumptions for the Corporation’s servicing assets for the government-guaranteed mortgage loans of 6.2% for each of the quarters ended March 31, 2020 and 2019. For conventional conforming mortgage loans, the Corporation used 6.9% and 6.7% for the quarters ended March 31, 2020 and 2019, and, for the conventional non-conforming mortgage loans, the Corporation used 8.7% and 9.3% for the quarters ended March 31, 2020 and 2019, respectively. Discount rate assumptions used were 12% for government-guaranteed mortgage loans; 10% for conventional conforming mortgage loans; and 14.3% for conventional non-conforming mortgage loans for each of the quarters ended March 31, 2020 and 2019.The weighted averages of the key economic assumptions that the Corporation used in its valuation model and the sensitivity of the current fair value to immediate 10% and 20% adverse changes in those assumptions for mortgage loans as of March 31, 2020 and December 31, 2019 were as follows:   March 31,   December 31,   2020   2019 (In thousands)       Carrying amount of servicing assets $ 26,484   $ 26,762 Fair value $ 30,337   $ 31,027 Weighted-average expected life (in years)   8.39     8.39             Constant prepayment rate (weighted-average annual rate)   6.46%     6.45% Decrease in fair value due to 10% adverse change $ 764   $ 748 Decrease in fair value due to 20% adverse change $ 1,496   $ 1,464             Discount rate (weighted-average annual rate)   11.27%     11.27% Decrease in fair value due to 10% adverse change $ 1,393   $ 1,450 Decrease in fair value due to 20% adverse change $ 2,677   $ 2,783 These sensitivities are hypothetical and should be used with caution. As the figures indicate, changes in fair value based on a 10% variation in assumptions generally cannot be extrapolated because the relationship between the change in assumption and the change in fair value may not be linear. Also, in this table, the effect of a variation in a particular assumption on the fair value of the servicing asset is calculated without changing any other assumption; in reality, changes in one factor may result in changes in another (for example, increases in market interest rates may result in lower prepayments), which may magnify or counteract the sensitivities.

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- Definition The entire disclosure for a transferor's continuing involvement in financial assets that it has transferred in a securitization or asset-backed financing arrangement, the nature of any restrictions on assets reported by an entity in its statement of financial position that relate to a transferred financial asset (including the carrying amounts of such assets), how servicing assets and servicing liabilities are reported, and (for securitization or asset-backed financing arrangements accounted for as sales) when a transferor has continuing involvement with the transferred financial assets and transfers of financial assets accounted for as secured borrowings, how the transfer of financial assets affects an entity's financial position, financial performance, and cash flows. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -URI http://asc.fasb.org/topic&trid=2197590 + Details Name: us-gaap_TransfersAndServicingOfFinancialAssetsTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

v3.20.1

NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS - additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended
	Feb. 16, 2011	Apr. 30, 2004	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Servicing Liabilities At Fair Value [Line Items]
Carrying amount of servicing assets			$ 26,484	$ 27,431	$ 26,762	$ 27,428
Servicing Asset at Fair Value, Amount			30,337
Allowance for Credit Losses			$ 368		$ 0
Weighted-average yield			2.50%		2.52%
Loans and Leases Receivable, Gross			$ 9,000
Percentage Of Variation In Assumptions			10.00%
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Qualitative Information			These sensitivities are hypothetical and should be used with caution. As the figures indicate, changes in fair value based on a 10% variation in assumptions generally cannot be extrapolated because the relationship between the change in assumption and the change in fair value may not be linear. Also, in this table, the effect of a variation in a particular assumption on the fair value of the servicing asset is calculated without changing any other assumption; in reality, changes in one factor may result in changes in another (for example, increases in market interest rates may result in lower prepayments), which may magnify or counteract the sensitivities.
Commercial Portfolio Segment [Member] | Nonperforming Financing Receivable [Member]
Servicing Liabilities At Fair Value [Line Items]
Cash realized on sale of loan				$ 4,800
Cpg Gs [Member] | Commercial Portfolio Segment [Member]
Servicing Liabilities At Fair Value [Line Items]
Loans sold to CPG	$ (269,300)
Loans and Leases Receivable, Gross	136,100
Cpg Gs [Member] | Commercial Portfolio Segment [Member] | Nonperforming Financing Receivable [Member]
Servicing Liabilities At Fair Value [Line Items]
Cash realized on sale of loan	$ 88,500
Acquired Equity interest on disposal of loans held for sale	35.00%
Cpg Gs [Member] | Prlp [Member]
Servicing Liabilities At Fair Value [Line Items]
Payment to be made on pro rata basis			35.00%
Cpg Gs [Member] | FirstBank [Member]
Servicing Liabilities At Fair Value [Line Items]
Payment to be made on pro rata basis			65.00%
Maximum [Member]
Servicing Liabilities At Fair Value [Line Items]
Percentage Of Variation In Assumptions			20.00%
Minimum [Member]
Servicing Liabilities At Fair Value [Line Items]
Percentage Of Variation In Assumptions			10.00%
Minimum [Member] | Cpg Gs [Member] | Prlp [Member]
Servicing Liabilities At Fair Value [Line Items]
Percentage Of Priority Interest To Be Received On Invested Capital			12.00%
Variable Rate Demand Obligation [Member] | Junior Subordinated Deferrable Debentures [Member]
Servicing Liabilities At Fair Value [Line Items]
Debt Instrument, Maturity Date, Description			The Junior Subordinated Deferrable Debentures issued by the Corporation in April 2004 and September 2004 mature on June 17, 2034 and September 20, 2034, respectively; however, under certain circumstances, the maturity of Junior Subordinated Deferrable Debentures may be shortened (such shortening would result in a mandatory redemption of the variable-rate TRuPs).
MBS [Member]
Servicing Liabilities At Fair Value [Line Items]
Allowance for Credit Losses			$ 368
Weighted-average yield			2.63%		2.60%
MBS [Member] | Private label [Member]
Servicing Liabilities At Fair Value [Line Items]
Carrying amount of servicing assets			$ 15,400
Servicing Asset at Fair Value, Amount			10,300
Allowance for Credit Losses			$ 368		$ 0
Weighted-average yield			3.45%
MBS [Member] | Private label [Member] | LIBOR [Member]
Servicing Liabilities At Fair Value [Line Items]
Debt Instrument Description Of Variable Rate Basis			90-day LIBOR
Statutory Trust One [Member] | Variable Rate Demand Obligation [Member]
Servicing Liabilities At Fair Value [Line Items]
Proceeds from Issuance of Trust Preferred Securities		$ 100,000
Proceeds of the issuance, together with proceeds of the purchase		3,100
Principal amount of corporation's junior subordinated deferrable debentures		103,100
Statutory Trust Two [Member] | Variable Rate Demand Obligation [Member]
Servicing Liabilities At Fair Value [Line Items]
Proceeds from Issuance of Trust Preferred Securities		125,000
Proceeds of the issuance, together with proceeds of the purchase		3,900
Principal amount of corporation's junior subordinated deferrable debentures		$ 128,900
GNMA [Member]
Servicing Liabilities At Fair Value [Line Items]
Principal amount of corporation serviced loans securitized through GNMA			$ 1,900,000

X

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- Definition Cash Flows between a transferor and a transferee attributable to collections reinvested in revolving period transfers related to either a securitization, asset-backed financing arrangement, or similar transfer in which the transferor has continuing involvement with the transferred financial assets underlying the transaction (including, but not limited to, servicing, recourse, and restrictions on transferor's interests in the transferred financial assets). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (d)(2) -URI http://asc.fasb.org/extlink&oid=118948506&loc=d3e107207-111719 + Details Name: us-gaap_CashFlowsBetweenTransfereeAndTransferorProceedsFromCollectionsReinvestedInRevolvingPeriodTransfers Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition Cash Flows between a transferor and a transferee attributable to purchases of previously transferred financial assets (or its underlying collateral) related to a securitization, asset-backed financing arrangement, or similar transfer in which the transferor has continuing involvement with the transferred financial assets underlying the transaction (including, but not limited to, servicing, recourse, and restrictions on transferor's interests in the transferred financial assets). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (d)(3) -URI http://asc.fasb.org/extlink&oid=118948506&loc=d3e107207-111719 + Details Name: us-gaap_CashFlowsBetweenTransfereeAndTransferorPurchasesOfPreviouslyTransferredFinancialAssets Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition The reference rate for the variable rate of the debt instrument, such as LIBOR or the US Treasury rate and the maturity of the reference rate used, such as three months or six months LIBOR. + References No definition available. + Details Name: us-gaap_DebtInstrumentDescriptionOfVariableRateBasis Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

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- Definition Amount of allowance for credit loss on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 50 -Paragraph 9 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118955579&loc=SL82922900-210455 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 50 -Paragraph 9 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=118955579&loc=SL82922900-210455 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (aaa) -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27161-111563 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118942338&loc=SL82898722-210454 + Details Name: us-gaap_DebtSecuritiesAvailableForSaleAllowanceForCreditLoss Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition The increase (decrease) during the reporting period in the value of loans or securitized loans that are held with the intention to sell in the near future. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3461-108585 + Details Name: us-gaap_IncreaseDecreaseInLoansHeldForSale Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition Amount before allowance of loans and leases held in portfolio, including but not limited to, commercial and consumer loans. Includes deferred interest and fees, undisbursed portion of loan balance, unamortized costs and premiums and discounts from face amounts. Excludes loans and leases covered under loss sharing agreements. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=118952595&loc=d3e4428-111522 + Details Name: us-gaap_LoansAndLeasesReceivableGrossCarryingAmount Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition This is the principal amount outstanding for securitized loans only (across all types of loans). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118948506&loc=d3e107314-111719 + Details Name: us-gaap_PrincipalAmountOutstandingOnLoansSecuritized Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition The cash inflow from issuance of preferred stocks by a business trust or other special purpose entity, mainly established by a bank holding entity, to third party investors. The trust's assets are deeply subordinated debentures of the bank holding entity. Most trust preferred securities are subject to a mandatory redemption upon the repayment of the debentures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 14 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3255-108585 + Details Name: us-gaap_ProceedsFromIssuanceOfTrustPreferredSecurities Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition The cash inflow resulting from the sale of loans classified as held-for-sale, including proceeds from loans sold through mortgage securitization. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 16 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3337-108585 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3461-108585 + Details Name: us-gaap_ProceedsFromSaleOfLoansHeldForSale Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition Amortized amount of contract to service financial assets under which the benefits of servicing are expected to more than adequately compensate the servicer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 4 -Subparagraph (a)(1) -URI http://asc.fasb.org/extlink&oid=116651436&loc=d3e122739-111746 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6469459&loc=d3e122501-111745 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 25 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7524895&loc=d3e120260-111741 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6469459&loc=d3e122492-111745 + Details Name: us-gaap_ServicingAssetAtAmortizedValue Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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v3.20.1

NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS - Changes in Impairment Allowance (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Transfers and Servicing [Abstract]
Balance at beginning of period	$ 73	$ 30
Temporary impairment charges	138	24
OTTI of servicing assets	(77)	0
Recoveries	0	(4)
Balance at end of period	$ 134	$ 50

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- Definition Amount of decrease in the valuation allowance for impairment of contract to service financial assets under which the benefits of servicing are expected to more than adequately compensate the servicer from write-downs charged against the allowance. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 4 -Subparagraph (e)(3) -URI http://asc.fasb.org/extlink&oid=116651436&loc=d3e122739-111746 + Details Name: us-gaap_ValuationAllowanceForImpairmentOfRecognizedServicingAssetsAggregateWriteDowns Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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v3.20.1

ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB)	3 Months Ended
	Mar. 31, 2020
Advances from Federal Home Loan Banks [Abstract]
ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) [Text Block]	NOTE 19 – ADVANCES FROM THE FEDERAL HOME LOAN BANK The following is a summary of the advances from the FHLB as of the indicated dates:                       March 31,   December 31,       2020   2019                   (In thousands)                               Short-term Fixed -rate advances from FHLB (1) $ 30,000   $ 35,000   Long-term Fixed-rate advances from FHLB (2)   535,000     535,000       $ 565,000   $ 570,000 Interest rate of 0.59% and 1.83% as of March 31, 2020 and December 31, 2019, respectively.Weighted-average interest rate of 2.21% as of each March 31, 2020 and December 31, 2019. Advances from FHLB mature as follows as of the indicated date:             March 31,     2020   (In thousands)       Within one month $ 55,000   Over one to three months   20,000   Over six months to one year   50,000   Over one year to three years   440,000   Total $ 565,000         As of March 31, 2020, the Corporation used $212.0 million in letters of credit issued by the FHLB as pledges for public deposits in the Virgin Islands and had additional capacity of approximately $529.4 million on this credit facility based on collateral pledged at the FHLB, considering a margin haircut reflecting the perceived risk associated with the collateral.

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v3.20.1

DEPOSITS - Components of Interest Expense on Deposits (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Deposits [Abstract]
Interest expense on deposits	$ 19,497	$ 17,305
Accretion Of Premium From Acquisitions	(1)	(2)
Amortization of broker placement fees	158	189
Interest expense on deposits	$ 19,654	$ 17,492

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- Definition Amortization of broker placement fees + References No definition available. + Details Name: fbp_AmortizationOfBrokerPlacementFees Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition Total interest expense of deposits excluding broker placement fees and unralized gains (losses) on derivatives + References No definition available. + Details Name: fbp_InterestExpenseDepositsNoBrokerPlacementFees Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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v3.20.1

FAIR VALUE - Impairment of Valuation Adjustments were Recorded for Assets Recognized at Fair Value (Detail) - Fair Value Measurements Nonrecurring [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Fair Value Inputs Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loans receivable	$ 0	$ 0
Other Real Estate Owned	0	0
Loans held for sale		0
Fair Value Inputs Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loans receivable	0	0
Other Real Estate Owned	0	0
Loans held for sale		0
Fair Value Inputs Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loans receivable	291,856	366,773
Other Real Estate Owned	99,674	129,716
Loans held for sale		7,381
Fair Value Inputs Level 3 [Member] | OREO [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets Fair Value Adjustment	(654)	(2,643)
Fair Value Inputs Level 3 [Member] | Loans Held For Sale [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets Fair Value Adjustment		0
Fair Value Inputs Level 3 [Member] | Loans Receivable [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets Fair Value Adjustment	$ (6,393)	$ (8,863)

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v3.20.1

STOCKHOLDERS' EQUITY - Additional Information (Detail) - USD ($)		3 Months Ended
	Feb. 14, 2019	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Class Of Stock [Line Items]
Common stock, shares authorized		2,000,000,000		2,000,000,000
Common stock, par value		$ 0.1		$ 0.1
Common stock, shares issued		222,955,394		222,103,721
Common stock, shares outstanding		218,160,725		217,359,337
Common Stock, Dividends, Per Share, Declared	$ 0.05	$ 0.05	$ 0.03
Preferred Stock, Shares Authorized		50,000,000		50,000,000
Preferred stock, par value		$ 1.00
Liquidation value per share		$ 25
Shares of common stock repurchased		50,285	168,679
Stock repurchase plan treasury stock		4,794,669		4,744,384
Legal surplus reserve rate		10.00%
Puerto Rico Banking Law Description		The Puerto Rico Banking Law provides that, when the expenditures of a Puerto Rico commercial bank are greater than receipts, the excess of the expenditures over receipts must be charged against the undistributed profits of the bank, and the balance, if any, must be charged against the legal surplus reserve, as a reduction thereof. If there is no legal surplus reserve sufficient to cover such balance in whole or in part, the outstanding amount must be charged against the capital account and the Bank cannot pay dividends until it can replenish the legal surplus reserve to an amount of at least 20% of the original capital contributed.
Legal Surplus Amount Additions		$ 0
Legal surplus reserve amount		$ 97,586,000		$ 97,586,000
Series A Preferred Stock [Member]
Class Of Stock [Line Items]
Preferred stock dividend rate percentage		7.125%
Series B Preferred Stock [Member]
Class Of Stock [Line Items]
Preferred stock dividend rate percentage		8.35%
Series C Preferred Stock [Member]
Class Of Stock [Line Items]
Preferred stock dividend rate percentage		7.40%
Series D Preferred Stock [Member]
Class Of Stock [Line Items]
Preferred stock dividend rate percentage		7.25%
Series E Preferred Stock [Member]
Class Of Stock [Line Items]
Preferred stock dividend rate percentage		7.00%
Common Stock [Member]
Class Of Stock [Line Items]
Dividneds declared		$ 10,900,000	$ 6,500,000
Preferred Stock [Member]
Class Of Stock [Line Items]
Dividneds declared		$ 700,000

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v3.20.1

OTHER REAL ESTATE OWNED (Tables)	3 Months Ended
	Mar. 31, 2020
Real Estate Owned Disclosure Of Detailed Components [Abstract]
Schedule Of Other Real Estate Assets And Foreclosed Properties [Table Text Block]	The following table presents the OREO inventory as of the dates indicated:                   March 31,     December 31,     2020   2019 (In thousands)           OREO           OREO balances, carrying value:           Residential (1) $ 46,427   $ 46,912 Commercial   45,878     47,271 Construction   7,369     7,443 Total $ 99,674   $ 101,626

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v3.20.1

INVESTMENT SECURITIES (Tables)	3 Months Ended
	Mar. 31, 2020
Other Than Temporary Impairment Credit Losses Recognized In Earnings [Line Items]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]	The table below presents qualitative information for significant assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as of March 31, 2020 and December 31, 2019:                           March 31, 2020                 Range   Weighted Average (In thousands) Fair Value   Valuation Technique   Unobservable Input   Minimum Maximum                           Investment securities available-for-sale:       Private label MBS $ 10,300   Discounted cash flows   Discount rate   12.7% 12.7%   12.7%             Prepayment rate   6.8% 10.3%   7.9%             Projected Cumulative Loss Rate   2.6% 20.7%   8.9% Puerto Rico government obligations   2,969   Discounted cash flows   Discount rate   8.1% 8.1%   8.1%   Prepayment rate   3.0% 3.0%   3.0%                                                                           December 31, 2019                 Range   Weighted (In thousands) Fair Value   Valuation Technique   Unobservable Input   Minimum Maximum   Average                         Investment securities available-for-sale:       Private label MBS $ 11,116   Discounted cash flows   Discount rate   13.7% 13.7%   13.7%             Prepayment rate   6.8% 10.3%   7.9%             Projected Cumulative Loss Rate   0.0% 7.4%   2.8% Puerto Rico government obligations   2,974   Discounted cash flows   Discount rate   6.9% 6.9%   6.9%   Prepayment rate   3.0% 3.0%   3.0%
Debt Securities, Available-for-sale, Allowance for Credit Loss [Table Text Block]	The following table presents a rollforward by major security type for the quarter ended March 31, 2020 of the ACL on debt securities available-for-sale at period end:   Private label   MBS (In thousands)     Beginning Balance $ - Impact of adopting ASC 326   - Addition for securities for which previous expected credit losses were recognized (provision for credit losses)   368   $ 368
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Table Text Block]	The following table presents the activity in the ACL for debt securities held-to-maturity by major security type for the quarter ended March 31, 2020:   Puerto Rico   Municipal Bonds (In thousands)     Beginning Balance $ - Impact of adopting ASC 326   8,134 Addition for securities for which no previous expected     credit losses were recognized (provision for credit losses)   1,134   $ 9,268
Debt Securities, Held-to-maturity, Credit Quality Indicator [Table Text Block]	The following table summarizes the amortized cost of debt securities held-to-maturity as of March 31, 2020 and December 31, 2019 aggregated by credit quality indicator:                   Held to Maturity     Puerto Rico Municipal Bonds     March 31,   December 31 (In thousands)   2020   2019 Risk Ratings:             Pass   $ 138,534   $ 138,675 Criticized:             Special Mention     -     - Substandard     -     - Doubtful     -     - Loss     -     - Total   $ 138,534   $ 138,675
Available-for-sale Securities [Member]
Other Than Temporary Impairment Credit Losses Recognized In Earnings [Line Items]
Investments Classified by Contractual Maturity Date [Table Text Block]	The amortized cost, gross unrealized gains and losses recorded in OCI, allowance for credit losses, estimated fair value, and weighted-average yield of investment securities available for sale by contractual maturities as of March 31, 2020 were as follows:     March 31, 2020     Amortized cost   Gross     Allowance   Fair value         Unrealized     for Credit     Weighted-       gains   losses     Losses     average yield % (Dollars in thousands)                                                                     U.S. Treasury securities:                                 Due within one year $ 7,483   $ 99   $ -   $ -   $ 7,582   1.65 U.S. government-sponsored                                 agencies' obligations:                                 Due within one year   90,002     510     -     -     90,512   1.56 After 1 to 5 years   118,454     1,488     -     -     119,942   2.04 After 5 to 10 years   112,477     978     12     -     113,443   2.06 After 10 years   23,306     2     64     -     23,244   0.65                                     Puerto Rico government                                 obligations:                                 After 5 to 10 years   4,000     361     -     -     4,361   5.12 After 10 years (1)   4,113     -     1,144     -     2,969   6.97                                     United States and Puerto                                 Rico government                                 obligations   359,835     3,438     1,220     -     362,053   1.92 MBS:                                 Freddie Mac ("FHLMC") certificates:                                   Due within one year   100     8     -     -     108   4.87 After 5 to 10 years   76,460     2,426     -     -     78,886   2.15 After 10 years   295,944     10,832     2     -     306,774   2.49       372,504     13,266     2     -     385,768   2.42                                     Ginnie Mae ("GNMA") certificates:                                 After 1 to 5 years   5,808     141     -     -     5,949   3.23 After 5 to 10 years   37,206     970     -     -     38,176   2.74 After 10 years   303,796     15,120     2     -     318,914   3.12       346,810     16,231     2     -     363,039   3.08 Fannie Mae ("FNMA") certificates:                                 After 1 to 5 years   19,773     750     -     -     20,523   2.79 After 5 to 10 years   133,479     5,218     -     -     138,697   2.14 After 10 years 540,107     23,238     -     -     563,345   2.61       693,359     29,206     -     -     722,565   2.52 Collateralized mortgage obligations issued                                 or guaranteed by the FHLMC, FNMA                                 and GNMA                                 After 1 to 5 years   606     -     3     -     603   1.66 After 10 years   86,706     1,290     646     -     87,350   2.50       87,312     1,290     649     -     87,953   2.49                                     Private label                                 After 10 years   15,357     -     4,689     368     10,300   3.45                                     Total MBS   1,515,342     59,993     5,342     368     1,569,625   2.63 Other                                 After 1 to 5 years   500     -     -     -     500   2.95                                     Total investment securities                                 available for sale $ 1,875,677   $ 63,431   $ 6,562   $ 368   $ 1,932,178   2.50 __________                                 The amortized cost, gross unrealized gains and losses recorded in OCI, estimated fair value, and weighted-average yield of investment securities available for sale by contractual maturities as of December 31, 2019 were as follows:     December 31, 2019     Amortized cost   Gross   Fair value         Unrealized     Weighted-       gains   losses     average yield% (Dollars in thousands)                               U.S. Treasury securities:                             After 1 to 5 years $ 7,478   $ 1   $ -   $ 7,479   1.65 U.S. government-sponsored                           agencies' obligations:                             Due within one year   93,299     103     106     93,296   1.67   After 1 to 5 years   142,513     676     52     143,137   2.12   After 5 to 10 years   63,764     165     150     63,779   2.33   After 10 years   24,624     -     116     24,508   2.00                               Puerto Rico government                           obligations:                             After 5 to 10 years   4,000     348     -     4,348   5.12   After 10 years (1)   4,166     -     1,192     2,974   6.97                               United States and Puerto                           Rico government                           obligations   339,844     1,293     1,616     339,521   2.11                               MBS:                           FHLMC certificates:                             After 5 to 10 years   81,418     589     228     81,779   2.16   After 10 years   424,316     3,873     758     427,431   2.50       505,734     4,462     986     509,210   2.44                               GNMA certificates:                             After 1 to 5 years   4,357     45     -     4,402   3.26   After 5 to 10 years   42,303     607     -     42,910   2.77   After 10 years   258,944     7,126     500     265,570   3.03       305,604     7,778     500     312,882   3.00 FNMA certificates:                             After 1 to 5 years   19,779     415     3     20,191   2.79   After 5 to 10 years   140,599     1,257     641     141,215   2.14   After 10 years 700,213     9,006     1,208     708,011   2.58       860,591     10,678     1,852     869,417   2.51 Collateralized mortgage obligations issued                             or guaranteed by the FHLMC,                             FNMA and GNMA:                             After 1 to 5 years   608     -     1     607   2.43   After 10 years   80,130     362     220     80,272   2.76       80,738     362     221     80,879   2.75                               Private label                             After 10 years   15,997     -     4,881     11,116   3.90                               Total MBS   1,768,664     23,280     8,440     1,783,504   2.60                                                             Other                             After 1 to 5 years   500     -     -     500   2.95                                                             Total investment securities                             available for sale $ 2,109,008   $ 24,573   $ 10,056   $ 2,123,525   2.52
Available-for-sale Securities [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member]
Other Than Temporary Impairment Credit Losses Recognized In Earnings [Line Items]
Schedule Of Unrealized Loss On Investments [Table Text Block]	As of March 31, 2020   Less than 12 months   12 months or more   Total       Unrealized       Unrealized       Unrealized   Fair Value   Losses   Fair Value   Losses   Fair Value   Losses (In thousands)     Debt securities:                                   Puerto Rico-government obligations $ -   $ -   $ 2,969   $ 1,144   $ 2,969   $ 1,144 U.S. Treasury and U.S. government                                   agenciesʼ obligations   3,213     1     22,280     75     25,493     76 MBS:                                   FHLMC   -     -     728     2     728     2 GNMA   -     -     609     2     609     2 Collateralized mortgage obligations                                   issued or guaranteed by                                   the FHLMC, FNMA and GNMA   40,571     649     -     -     40,571     649 Private label MBS   -     -     10,300     4,689     10,300     4,689   $ 43,784   $ 650   $ 36,886   $ 5,912   $ 80,670   $ 6,562                                                                           As of December 31, 2019   Less than 12 months   12 months or more   Total       Unrealized       Unrealized       Unrealized   Fair Value   Losses   Fair Value   Losses   Fair Value   Losses (In thousands)     Debt securities:                                   Puerto Rico-government obligations $ -   $ -   $ 2,974   $ 1,192   $ 2,974   $ 1,192 U.S. Treasury and U.S. government                                   agenciesʼ obligations   45,073     172     99,764     252     144,837     424 MBS:                                   FNMA   58,668     499     173,708     1,353     232,376     1,852 FHLMC   74,134     270     63,864     716     137,998     986 GNMA   79,145     472     7,203     28     86,348     500 Collateralized mortgage                                   obligations issued or guaranteed                                   by the FHLMC, FNMA and GNMA   21,873     221     -     -     21,873     221 Private label MBS   -     -     11,116     4,881     11,116     4,881   $ 278,893   $ 1,634   $ 358,629   $ 8,422   $ 637,522   $ 10,056
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]	Significant assumptions in the valuation of the private label MBS were as follows:   As of   As of   March 31, 2020   December 31, 2019   Weighted   Range   Weighted   Range   Average   Minimum Maximum   Average   Minimum Maximum                     Discount rate 12.7%   12.7% 12.7%   13.7%   13.7% 13.7% Prepayment rate 7.9%   6.8% 10.3%   7.9%   6.8% 10.3% Projected Cumulative Loss Rate 8.9%   2.6% 20.7%   2.8%   0.0% 7.4%
Held-to-maturity Securities [Member]
Other Than Temporary Impairment Credit Losses Recognized In Earnings [Line Items]
Investments Classified by Contractual Maturity Date [Table Text Block]	The amortized cost, gross unrecognized gains and losses, estimated fair value, allowance for credit losses, weighted-average yield and contractual maturities of investment securities held to maturity as of March 31, 2020 and December 31, 2019 were as follows:     March 31, 2020     Amortized cost       Fair value                 Gross Unrecognized     Allowance for Credit Losses                           Weighted - average yield % (Dollars in thousands)   gains   losses                                           Puerto Rico Municipal Bonds:                                   Due within one year $ 321   $ -   $ 3   $ 318   $ 99   5.65   After 1 to 5 years   8,122     -     675     7,447     78   4.99   After 5 to 10 years   56,511     -     8,118     48,393     2,999   5.42   After 10 years   73,580     -     18,576     55,004     6,092   5.25 Total investment securities                                   held to maturity $ 138,534   $ -   $ 27,372   $ 111,162   $ 9,268   5.31                                         December 31, 2019     Amortized cost         Fair value             Gross Unrecognized                             Weighted - average yield % (Dollars in thousands)     gains   losses                                     Puerto Rico Municipal Bonds:                               Due within one year $ 321     $ -   $ 6   $ 315   5.84   After 1 to 5 years   8,264       -     736     7,528   5.18   After 5 to 10 years   56,511       -     8,646     47,865   5.77   After 10 years   73,579       -     18,913     54,666   5.44 Total investment securities                               held to maturity $ 138,675     $ -   $ 28,301   $ 110,374   5.56
Schedule Of Unrealized Loss On Investments [Table Text Block]	The following tables show the Corporation’s held-to-maturity investments’ fair value and gross unrecognized losses, aggregated by investment category and length of time that individual securities had been in a continuous unrecognized loss position, as of March 31, 2020 and December 31, 2019, including debt securities for which an ACL was recorded as of March 31, 2020.   As of March 31, 2020   Less than 12 months   12 months or more   Total       Unrecognized       Unrecognized       Unrecognized   Fair Value   Losses   Fair Value   Losses   Fair Value   Losses     (In thousands) Debt securities:                                   Puerto Rico Municipal Bonds $ -   $ -   $ 111,162   $ 27,372   $ 111,162   $ 27,372                                                                           As of December 31, 2019   Less than 12 months   12 months or more   Total       Unrecognized       Unrecognized       Unrecognized   Fair Value   Losses   Fair Value   Losses   Fair Value   Losses     (In thousands) Debt securities:                                   Puerto Rico Municipal Bonds $ -   $ -   $ 110,374   $ 28,301   $ 110,374   $ 28,301

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v3.20.1

FAIR VALUE - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Assets:
Investment securities available for sale	$ 1,932,178	$ 2,123,525
Fair Value, Measurements, Recurring [Member]
Assets:
Equity Securities	1,458	1,428
Fair Value, Measurements, Recurring [Member] | Other Available For Sale Securities [Member]
Assets:
Investment securities available for sale	500	500
Fair Value, Measurements, Recurring [Member] | U S Treasury Securities [Member]
Assets:
Investment securities available for sale	7,582	7,479
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | Noncallable
Assets:
Investment securities available for sale	146,154	146,777
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | Callable
Assets:
Investment securities available for sale	1,760,312	1,950,331
Fair Value, Measurements, Recurring [Member] | Puerto Rico Government obligations [Member]
Assets:
Investment securities available for sale	7,330	7,322
Fair Value, Measurements, Recurring [Member] | Private label [Member]
Assets:
Investment securities available for sale	10,300	11,116
Fair Value, Measurements, Recurring [Member] | Interest Rate Cap [Member] | Purchase
Assets:
Asset Derivative	9	11
Fair Value, Measurements, Recurring [Member] | Interest Rate Cap [Member] | Written
Derivatives, included in liabilities:
Liability Derivatives	9	11
Fair Value, Measurements, Recurring [Member] | Interest Rate Lock Commitments [Member]
Assets:
Asset Derivative	303	341
Fair Value, Measurements, Recurring [Member] | Forward loan sales commitments [Member]
Assets:
Asset Derivative	20	20
Fair Value, Measurements, Recurring [Member] | Forward Contracts [Member]
Derivatives, included in liabilities:
Liability Derivatives	803	138
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member]
Assets:
Equity Securities	1,458	1,428
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Other Available For Sale Securities [Member]
Assets:
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | U S Treasury Securities [Member]
Assets:
Investment securities available for sale	7,582	7,479
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | US Government Agencies Debt Securities [Member] | Noncallable
Assets:
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | US Government Agencies Debt Securities [Member] | Callable
Assets:
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Puerto Rico Government obligations [Member]
Assets:
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Private label [Member]
Assets:
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Interest Rate Cap [Member] | Purchase
Assets:
Asset Derivative	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Interest Rate Cap [Member] | Written
Derivatives, included in liabilities:
Liability Derivatives	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Interest Rate Lock Commitments [Member]
Assets:
Asset Derivative	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Forward loan sales commitments [Member]
Assets:
Asset Derivative	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Forward Contracts [Member]
Derivatives, included in liabilities:
Liability Derivatives	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member]
Assets:
Equity Securities	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Other Available For Sale Securities [Member]
Assets:
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | U S Treasury Securities [Member]
Assets:
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | US Government Agencies Debt Securities [Member] | Noncallable
Assets:
Investment securities available for sale	146,154	146,777
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | US Government Agencies Debt Securities [Member] | Callable
Assets:
Investment securities available for sale	1,760,312	1,950,331
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Puerto Rico Government obligations [Member]
Assets:
Investment securities available for sale	4,361	4,348
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Private label [Member]
Assets:
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Interest Rate Cap [Member] | Purchase
Assets:
Asset Derivative	9	11
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Interest Rate Cap [Member] | Written
Derivatives, included in liabilities:
Liability Derivatives	9	11
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Interest Rate Lock Commitments [Member]
Assets:
Asset Derivative	303	341
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Forward loan sales commitments [Member]
Assets:
Asset Derivative	20	20
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Forward Contracts [Member]
Derivatives, included in liabilities:
Liability Derivatives	803	138
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member]
Assets:
Equity Securities	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Other Available For Sale Securities [Member]
Assets:
Investment securities available for sale	500	500
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | U S Treasury Securities [Member]
Assets:
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | US Government Agencies Debt Securities [Member] | Noncallable
Assets:
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | US Government Agencies Debt Securities [Member] | Callable
Assets:
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Puerto Rico Government obligations [Member]
Assets:
Investment securities available for sale	2,969	2,974
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Private label [Member]
Assets:
Investment securities available for sale	10,300	11,116
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Interest Rate Cap [Member] | Purchase
Assets:
Asset Derivative	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Interest Rate Cap [Member] | Written
Derivatives, included in liabilities:
Liability Derivatives	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Interest Rate Lock Commitments [Member]
Assets:
Asset Derivative	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Forward loan sales commitments [Member]
Assets:
Asset Derivative	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Forward Contracts [Member]
Derivatives, included in liabilities:
Liability Derivatives	$ 0	$ 0

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- Definition Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 55 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=99393222&loc=SL20226008-175313 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13433-108611 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 + Details Name: us-gaap_DerivativeAssets Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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v3.20.1

LOANS HELD FOR INVESTMENT - Loan Modifications are Considered TDRs (Detail) - Entity Loan Modification Program [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2020 USD ($) numberofcontracts	Mar. 31, 2019 USD ($) numberofcontracts
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	273	254
Pre-Modification Outstanding Recorded Investment	$ 23,683	$ 27,605
Post-Modification Outstanding Recorded Investment	$ 23,125	$ 25,459
Residential Portfolio Segment [Member] | Conventional Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	32	29
Pre-Modification Outstanding Recorded Investment	$ 3,124	$ 3,178
Post-Modification Outstanding Recorded Investment	$ 2,560	$ 3,191
Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	0	1
Pre-Modification Outstanding Recorded Investment	$ 0	$ 12
Post-Modification Outstanding Recorded Investment	$ 0	$ 12
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	3	4
Pre-Modification Outstanding Recorded Investment	$ 18,386	$ 107
Post-Modification Outstanding Recorded Investment	$ 18,386	$ 106
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	2	3
Pre-Modification Outstanding Recorded Investment	$ 75	$ 22,510
Post-Modification Outstanding Recorded Investment	$ 81	$ 20,334
Consumer Portfolio Segment [Member] | Automobile Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	81	62
Pre-Modification Outstanding Recorded Investment	$ 1,241	$ 947
Post-Modification Outstanding Recorded Investment	$ 1,235	$ 947
Consumer Portfolio Segment [Member] | Finance Leases [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	21	7
Pre-Modification Outstanding Recorded Investment	$ 284	$ 159
Post-Modification Outstanding Recorded Investment	$ 284	$ 159
Consumer Portfolio Segment [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	13	20
Pre-Modification Outstanding Recorded Investment	$ 113	$ 204
Post-Modification Outstanding Recorded Investment	$ 111	$ 204
Consumer Portfolio Segment [Member] | Other Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	64	99
Pre-Modification Outstanding Recorded Investment	$ 180	$ 320
Post-Modification Outstanding Recorded Investment	$ 188	$ 338
Consumer Portfolio Segment [Member] | Credit cards [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	57	29
Pre-Modification Outstanding Recorded Investment	$ 280	$ 168
Post-Modification Outstanding Recorded Investment	$ 280	$ 168
Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	273	251
Pre-Modification Outstanding Recorded Investment	$ 23,683	$ 27,572
Post-Modification Outstanding Recorded Investment	$ 23,125	$ 25,426
Puerto Rico and Virgin Islands regions [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	32	29
Pre-Modification Outstanding Recorded Investment	$ 3,124	$ 3,178
Post-Modification Outstanding Recorded Investment	$ 2,560	$ 3,191
Puerto Rico and Virgin Islands regions [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	0	1
Pre-Modification Outstanding Recorded Investment	$ 0	$ 12
Post-Modification Outstanding Recorded Investment	$ 0	$ 12
Puerto Rico and Virgin Islands regions [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	3	4
Pre-Modification Outstanding Recorded Investment	$ 18,386	$ 107
Post-Modification Outstanding Recorded Investment	$ 18,386	$ 106
Puerto Rico and Virgin Islands regions [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	2	3
Pre-Modification Outstanding Recorded Investment	$ 75	$ 22,510
Post-Modification Outstanding Recorded Investment	$ 81	$ 20,334
Puerto Rico and Virgin Islands regions [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	81	59
Pre-Modification Outstanding Recorded Investment	$ 1,241	$ 914
Post-Modification Outstanding Recorded Investment	$ 1,235	$ 914
Puerto Rico and Virgin Islands regions [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	21	7
Pre-Modification Outstanding Recorded Investment	$ 284	$ 159
Post-Modification Outstanding Recorded Investment	$ 284	$ 159
Puerto Rico and Virgin Islands regions [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	13	20
Pre-Modification Outstanding Recorded Investment	$ 113	$ 204
Post-Modification Outstanding Recorded Investment	$ 111	$ 204
Puerto Rico and Virgin Islands regions [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	64	99
Pre-Modification Outstanding Recorded Investment	$ 180	$ 320
Post-Modification Outstanding Recorded Investment	$ 188	$ 338
Puerto Rico and Virgin Islands regions [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	57	29
Pre-Modification Outstanding Recorded Investment	$ 280	$ 168
Post-Modification Outstanding Recorded Investment	$ 280	$ 168
Florida region
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	0	3
Pre-Modification Outstanding Recorded Investment	$ 0	$ 33
Post-Modification Outstanding Recorded Investment	$ 0	$ 33
Florida region | Residential Portfolio Segment [Member] | Conventional Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	0	0
Pre-Modification Outstanding Recorded Investment	$ 0	$ 0
Post-Modification Outstanding Recorded Investment	$ 0	$ 0
Florida region | Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	0	0
Pre-Modification Outstanding Recorded Investment	$ 0	$ 0
Post-Modification Outstanding Recorded Investment	$ 0	$ 0
Florida region | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	0	0
Pre-Modification Outstanding Recorded Investment	$ 0	$ 0
Post-Modification Outstanding Recorded Investment	$ 0	$ 0
Florida region | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	0	0
Pre-Modification Outstanding Recorded Investment	$ 0	$ 0
Post-Modification Outstanding Recorded Investment	$ 0	$ 0
Florida region | Consumer Portfolio Segment [Member] | Automobile Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	0	3
Pre-Modification Outstanding Recorded Investment	$ 0	$ 33
Post-Modification Outstanding Recorded Investment	$ 0	$ 33
Florida region | Consumer Portfolio Segment [Member] | Finance Leases [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	0	0
Pre-Modification Outstanding Recorded Investment	$ 0	$ 0
Post-Modification Outstanding Recorded Investment	$ 0	$ 0
Florida region | Consumer Portfolio Segment [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	0	0
Pre-Modification Outstanding Recorded Investment	$ 0	$ 0
Post-Modification Outstanding Recorded Investment	$ 0	$ 0
Florida region | Consumer Portfolio Segment [Member] | Other Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	0	0
Pre-Modification Outstanding Recorded Investment	$ 0	$ 0
Post-Modification Outstanding Recorded Investment	$ 0	$ 0
Florida region | Consumer Portfolio Segment [Member] | Credit cards [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	0	0
Pre-Modification Outstanding Recorded Investment	$ 0	$ 0
Post-Modification Outstanding Recorded Investment	$ 0	$ 0

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v3.20.1

STOCK-BASED COMPENSATION - Restricted Stock - Additional Information (Detail) - Omnibus Plan [Member] - Restricted Stock [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted shares of restricted stock	851,673
Stock-based compensation expense	$ 0.8	$ 0.9
Unrecognized compensation cost related to unvested shares	$ 5.2
Period for cost recognition not yet recognized	2 years
Independent directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted shares of restricted stock		3,745
Restricted stock vesting period		1 year
Management [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted shares of restricted stock	851,673	261,871
Rtirement Eligible Shares	47,194	13,308
Management [Member] | Restricted stock vesting after two-year anniversary of the grant date [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vesting percentage	50.00%	50.00%
Management [Member] | Restricted stock vesting after three-year anniversary of the grant date [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vesting percentage	50.00%	50.00%

X

- Definition Amount of expense for award under share-based payment arrangement. Excludes amount capitalized. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=115993241&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1)(i) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details Name: us-gaap_AllocatedShareBasedCompensationExpense Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition Amount of cost not yet recognized for nonvested award under share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details Name: us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Weighted-average period over which cost not yet recognized is expected to be recognized for award under share-based payment arrangement, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details Name: us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1 Namespace Prefix: us-gaap_ Data Type: xbrli:durationItemType Balance Type: na Period Type: duration

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- Definition Period over which grantee's right to exercise award under share-based payment arrangement is no longer contingent on satisfaction of service or performance condition, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Includes, but is not limited to, combination of market, performance or service condition. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details Name: us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1 Namespace Prefix: us-gaap_ Data Type: xbrli:durationItemType Balance Type: na Period Type: duration

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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details Name: us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

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- Definition Number of shares for which recognition of cost was accelerated for award under share-based payment arrangement. + References No definition available. + Details Name: us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAcceleratedVestingNumber Namespace Prefix: us-gaap_ Data Type: xbrli:sharesItemType Balance Type: na Period Type: duration

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- Definition Percentage of vesting of award under share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details Name: us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage Namespace Prefix: us-gaap_ Data Type: num:percentItemType Balance Type: na Period Type: duration

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- Definition Total number of shares issued during the period, including shares forfeited, as a result of Restricted Stock Awards. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21463-112644 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 + Details Name: us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardGross Namespace Prefix: us-gaap_ Data Type: xbrli:sharesItemType Balance Type: na Period Type: duration

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- Details Name: us-gaap_PlanNameAxis=fbp_OmnibusPlanMember Namespace Prefix: Data Type: na Balance Type: Period Type:

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- Details Name: us-gaap_AwardTypeAxis=us-gaap_RestrictedStockMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: srt_TitleOfIndividualAxis=srt_DirectorMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: srt_TitleOfIndividualAxis=srt_ManagementMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheOneMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheTwoMember Namespace Prefix: Data Type: na Balance Type: Period Type:

v3.20.1

LOANS HELD FOR INVESTMENT - Corporation's Residential Mortgage Loans by Origination Year Based on Original Credit Score (Detail) - Loans held for investmet [Member] - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	$ 9,038,947	$ 9,002,205
Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	7,103,906	7,128,277
Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	1,935,041	1,873,928
Residential Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	19,240
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	124,206
Financing Receivable, Originated Two Years before Latest Fiscal Year	184,340
Financing Receivable, Originated Three Years before Latest Fiscal Year	176,155
Financing Receivable, Originated Four Years before Latest Fiscal Year	201,787
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	2,169,944
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	2,875,672	2,933,773
Residential Portfolio Segment [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	10,469
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	65,930
Financing Receivable, Originated Two Years before Latest Fiscal Year	111,130
Financing Receivable, Originated Three Years before Latest Fiscal Year	72,884
Financing Receivable, Originated Four Years before Latest Fiscal Year	110,021
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	1,947,738
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	2,318,172	2,367,587
Residential Portfolio Segment [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	8,771
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	58,276
Financing Receivable, Originated Two Years before Latest Fiscal Year	73,210
Financing Receivable, Originated Three Years before Latest Fiscal Year	103,271
Financing Receivable, Originated Four Years before Latest Fiscal Year	91,766
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	222,206
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	557,500	566,186
Residential Portfolio Segment [Member] | Loans Insured or Guaranteed by US Government Authorities [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	356
Financing Receivable, Originated Two Years before Latest Fiscal Year	2,130
Financing Receivable, Originated Three Years before Latest Fiscal Year	3,060
Financing Receivable, Originated Four Years before Latest Fiscal Year	5,739
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	107,230
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	118,515	123,909
Residential Portfolio Segment [Member] | Loans Insured or Guaranteed by US Government Authorities [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	356
Financing Receivable, Originated Two Years before Latest Fiscal Year	2,130
Financing Receivable, Originated Three Years before Latest Fiscal Year	2,770
Financing Receivable, Originated Four Years before Latest Fiscal Year	5,739
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	106,332
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	117,327	122,429
Residential Portfolio Segment [Member] | Loans Insured or Guaranteed by US Government Authorities [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	290
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	898
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	1,188	1,480
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	2,757,157	2,809,864
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	2,200,845	2,245,158
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	556,312	564,706
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | FICO Score Less than 620 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	3,030
Financing Receivable, Originated Three Years before Latest Fiscal Year	1,280
Financing Receivable, Originated Four Years before Latest Fiscal Year	75
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	281,254
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	285,639	290,239
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | FICO Score Less than 620 [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	463
Financing Receivable, Originated Three Years before Latest Fiscal Year	1,280
Financing Receivable, Originated Four Years before Latest Fiscal Year	75
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	280,356
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	282,174	286,754
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | FICO Score Less than 620 [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	2,567
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	898
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	3,465	3,485
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | FICO Score Greater than or equal to 620 and less than 680 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	353
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	7,378
Financing Receivable, Originated Two Years before Latest Fiscal Year	11,002
Financing Receivable, Originated Three Years before Latest Fiscal Year	17,332
Financing Receivable, Originated Four Years before Latest Fiscal Year	19,691
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	398,402
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	454,158	467,930
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | FICO Score Greater than or equal to 620 and less than 680 [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	89
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	2,223
Financing Receivable, Originated Two Years before Latest Fiscal Year	7,359
Financing Receivable, Originated Three Years before Latest Fiscal Year	6,920
Financing Receivable, Originated Four Years before Latest Fiscal Year	7,781
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	380,022
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	404,394	416,766
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | FICO Score Greater than or equal to 620 and less than 680 [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	264
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	5,155
Financing Receivable, Originated Two Years before Latest Fiscal Year	3,643
Financing Receivable, Originated Three Years before Latest Fiscal Year	10,412
Financing Receivable, Originated Four Years before Latest Fiscal Year	11,910
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	18,380
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	49,764	51,164
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | FICO Score Greater than or equal to 680 and less than 740 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	7,489
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	39,956
Financing Receivable, Originated Two Years before Latest Fiscal Year	58,175
Financing Receivable, Originated Three Years before Latest Fiscal Year	54,220
Financing Receivable, Originated Four Years before Latest Fiscal Year	64,898
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	541,705
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	766,443	777,835
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | FICO Score Greater than or equal to 680 and less than 740 [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	4,682
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	23,085
Financing Receivable, Originated Two Years before Latest Fiscal Year	40,264
Financing Receivable, Originated Three Years before Latest Fiscal Year	21,361
Financing Receivable, Originated Four Years before Latest Fiscal Year	35,242
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	492,137
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	616,771	626,291
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | FICO Score Greater than or equal to 680 and less than 740 [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	2,807
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	16,871
Financing Receivable, Originated Two Years before Latest Fiscal Year	17,911
Financing Receivable, Originated Three Years before Latest Fiscal Year	32,859
Financing Receivable, Originated Four Years before Latest Fiscal Year	29,656
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	49,568
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	149,672	151,544
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | FICO Score Greater than or equal to 740 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	11,398
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	76,516
Financing Receivable, Originated Two Years before Latest Fiscal Year	110,003
Financing Receivable, Originated Three Years before Latest Fiscal Year	100,263
Financing Receivable, Originated Four Years before Latest Fiscal Year	111,384
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	841,353
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	1,250,917	1,273,860
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | FICO Score Greater than or equal to 740 [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	5,698
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	40,266
Financing Receivable, Originated Two Years before Latest Fiscal Year	60,914
Financing Receivable, Originated Three Years before Latest Fiscal Year	40,553
Financing Receivable, Originated Four Years before Latest Fiscal Year	61,184
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	688,891
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	897,506	915,347
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | FICO Score Greater than or equal to 740 [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	5,700
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	36,250
Financing Receivable, Originated Two Years before Latest Fiscal Year	49,089
Financing Receivable, Originated Three Years before Latest Fiscal Year	59,710
Financing Receivable, Originated Four Years before Latest Fiscal Year	50,200
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	152,462
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	$ 353,411	$ 358,513

X

- Definition Amount of financing receivable originated five or more years prior to latest fiscal year. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 79 -URI http://asc.fasb.org/extlink&oid=118955255&loc=SL82922352-210448 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919232-210447 + Details Name: us-gaap_FinancingReceivableOriginatedFiveOrMoreYearsBeforeLatestFiscalYear Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of financing receivable originated four years prior to latest fiscal year. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 79 -URI http://asc.fasb.org/extlink&oid=118955255&loc=SL82922352-210448 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919232-210447 + Details Name: us-gaap_FinancingReceivableOriginatedFourYearsBeforeLatestFiscalYear Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of financing receivable originated in current fiscal year. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 79 -URI http://asc.fasb.org/extlink&oid=118955255&loc=SL82922352-210448 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919232-210447 + Details Name: us-gaap_FinancingReceivableOriginatedInCurrentFiscalYear Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of financing receivable originated in fiscal year prior to latest fiscal year. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919232-210447 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 79 -URI http://asc.fasb.org/extlink&oid=118955255&loc=SL82922352-210448 + Details Name: us-gaap_FinancingReceivableOriginatedInFiscalYearBeforeLatestFiscalYear Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of financing receivable originated three years prior to latest fiscal year. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 79 -URI http://asc.fasb.org/extlink&oid=118955255&loc=SL82922352-210448 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919232-210447 + Details Name: us-gaap_FinancingReceivableOriginatedThreeYearsBeforeLatestFiscalYear Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of financing receivable originated two years prior to latest fiscal year. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 79 -URI http://asc.fasb.org/extlink&oid=118955255&loc=SL82922352-210448 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919232-210447 + Details Name: us-gaap_FinancingReceivableOriginatedTwoYearsBeforeLatestFiscalYear Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details Name: us-gaap_FinancingReceivableRecordedInvestmentLineItems Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

X

- Definition Amount of financing receivable that can be withdrawn, repaid and redrawn. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919232-210447 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 79 -URI http://asc.fasb.org/extlink&oid=118955255&loc=SL82922352-210448 + Details Name: us-gaap_FinancingReceivableRevolving Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Amount, before allowance for credit loss, of financing receivable. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 5 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919230-210447 + Details Name: us-gaap_NotesReceivableGross Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Details Name: us-gaap_FairValueByAssetClassAxis=fbp_HeldToInvestmentLoansMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: srt_StatementGeographicalAxis=fbp_PrandviMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

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v3.20.1

REGULATORY MATTERS, COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
	Mar. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Text Block]	The regulatory capital positions of the Corporation and FirstBank as of March 31, 2020, which reflects the delay in the effect of CECL on regulatory capital, and December 31, 2019 were as follows:                                         Regulatory Requirements                                         Actual   For Capital Adequacy Purposes   To be Well-Capitalized Thresholds                 Amount   Ratio   Amount   Ratio   Amount   Ratio                                   (Dollars in thousands)                               As of March 31, 2020                             Total Capital (to                             Risk-Weighted Assets)                             First BanCorp. $ 2,305,042   25.42%   $ 725,557   8.0%     N/A   N/A FirstBank $ 2,259,012   24.91%   $ 725,384   8.0%   $ 906,730   10.0% Common Equity Tier 1 Capital                             (to Risk-Weighted Assets)                             First BanCorp. $ 1,976,105   21.79%   $ 408,126   4.5%     N/A   N/A FirstBank $ 1,836,831   20.26%   $ 408,029   4.5%   $ 589,375   6.5% Tier I Capital (to                             Risk-Weighted Assets)                             First BanCorp. $ 2,012,209   22.19%   $ 544,168   6.0%     N/A   N/A FirstBank $ 2,144,831   23.65%   $ 544,038   6.0%   $ 725,384   8.0% Leverage ratio                             First BanCorp. $ 2,012,209   15.98%   $ 503,686   4.0%     N/A   N/A FirstBank $ 2,144,831   17.05%   $ 503,138   4.0%   $ 628,923   5.0%                                   As of December 31, 2019                             Total Capital (to                             Risk-Weighted Assets)                             First BanCorp. $ 2,286,337   25.22%   $ 725,236   8.0%     N/A   N/A FirstBank $ 2,242,262   24.74%   $ 725,047   8.0%   $ 906,309   10.0% Common Equity Tier 1 Capital                             (to Risk-Weighted Assets)                             First BanCorp. $ 1,957,887   21.60%   $ 407,946   4.5%     N/A   N/A FirstBank $ 1,820,571   20.09%   $ 407,839   4.5%   $ 589,101   6.5% Tier I Capital (to                             Risk-Weighted Assets)                             First BanCorp. $ 1,993,991   22.00%   $ 543,927   6.0%     N/A   N/A FirstBank $ 2,128,571   23.49%   $ 543,785   6.0%   $ 725,047   8.0% Leverage ratio                             First BanCorp. $ 1,993,991   16.15%   $ 493,786   4.0%     N/A   N/A FirstBank $ 2,128,571   17.26%   $ 493,242   4.0%   $ 616,552   5.0%

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- Definition Tabular disclosure of the capital amounts and ratios as of the balance sheet date, indicating whether the entity or entities are in compliance with regulatory capital requirements, by entity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1G -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958577-112826 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1H -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=117337116&loc=d3e65071-112826 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958570-112826 + Details Name: us-gaap_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

v3.20.1

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Accounting for financial instruments credit losses (Detail) - USD ($)	1 Months Ended	3 Months Ended
	Feb. 27, 2015	Mar. 31, 2020	Jan. 01, 2020	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Loans and Leases Receivable, Gross		$ 9,000,000.0
Business Acquisition Branches Acquired	10
Debt Securities, Held-to-maturity, Past Due		0
Accrued interest receivable		49,425,000		$ 50,205,000
Allowance for Credit Losse, Held-to-maturity securities		9,268,000		0
Debt Securities, Available-for-sale, Allowance for Credit Loss		$ 368,000		0
Debt Securities, Held-to-maturity, Threshold Period Past Due		30 days
Municipal Bonds [Member] | Puerto Rico [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Held To Maturity Securities		$ 138,534,000		138,675,000
Allowance for Credit Losse, Held-to-maturity securities		9,268,000		0
ASC 326
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt Securities, Held-to-maturity, Past Due		0
Accrued interest reverse		500,000
Allowance for Credit Losse, Held-to-maturity securities			$ 8,134,000
Debt Securities, Available-for-sale, Allowance for Credit Loss		$ 300,000
Threshold Period Past Due Of Financing Receivables To Be Considered Nonperforming		90 days
Troubled Debt Restructurings Sustained Performance Period		6 months
ASC 326 | Nonaccrual [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt Securities, Held-to-maturity, Threshold Period Past Due		90 days
ASC 326 | Residential Portfolio Segment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Threshold Period Past Due, Writeoff		180 days
Threshold Period Past Due Of Financing Receivables To Be Considered Delinquent		2 months
ASC 326 | Residential Portfolio Segment [Member] | Adjustable Rate Residential Mortgage [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Loans Receivable With Hybrid Ajustable Rate		57.00%
ASC 326 | Residential Portfolio Segment [Member] | Puerto Rico Housing Finance Authority [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Period Of Guaranteed Residential Mortgage Loans That Are No Longer Accruing Interest		90 days
ASC 326 | Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Past due 90 days and still accruing		90 days
Period Of Guaranteed Residential Mortgage Loans That Are No Longer Accruing Interest		15 months
ASC 326 | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Threshold Period Past Due Of Financing Receivables To Be Considered Delinquent		30 days
ASC 326 | Commercial Portfolio Segment [Member] | Construction Loans [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Threshold Period Past Due Of Financing Receivables To Be Considered Delinquent		2 months
ASC 326 | Consumer Portfolio Segment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Threshold Period Past Due Of Financing Receivables To Be Considered Delinquent		30 days
ASC 326 | Consumer Portfolio Segment [Member] | Credit Card Receivable [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Threshold Period Past Due, Writeoff		180 days
ASC 326 | Consumer Portfolio Segment [Member] | Automobile Loan [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Threshold Period Past Due, Writeoff		120 days
ASC 326 | Consumer Portfolio Segment [Member] | Finance Leases [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Threshold Period Past Due, Writeoff		120 days
ASC 326 | Consumer Portfolio Segment [Member] | Boat loans [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Threshold Period Past Due, Writeoff		120 days
ASC 326 | Consumer Portfolio Segment [Member] | Small Loans [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Threshold Period Past Due, Writeoff		180 days
ASC 326 | Consumer Portfolio Segment [Member] | Personal Loans [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Threshold Period Past Due, Writeoff		180 days
ASC 326 | Loans and Finance Receivables [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accrued interest receivable		$ 40,000,000.0		39,100,000
ASC 326 | Mortgage Receivable [Member] | Commercial Portfolio Segment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Threshold Period Past Due Of Financing Receivables To Be Considered Delinquent		2 months
ASC 326 | Minimum [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Loans individually evaluated		$ 500,000
ASC 326 | PCD loans [Member] | Residential Portfolio Segment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Loans and Leases Receivable, Gross		131,500,000
ASC 326 | PCD loans [Member] | Mortgage Receivable [Member] | Commercial Portfolio Segment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Loans and Leases Receivable, Gross		2,500,000
ASC 326 | Held-to-maturity Securities [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accrued interest receivable		1,900,000		3,900,000
ASC 326 | Available-for-sale Securities [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accrued interest receivable		$ 5,600,000		$ 5,500,000
ASC 326 | Puerto Rico and Virgin Islands regions [Member] | Minimum [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reversion period		2
ASC 326 | Puerto Rico and Virgin Islands regions [Member] | Maximum [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reversion period		3
ASC 326 | Florida region
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reversion period		5
ASC 326 | Municipal Bonds [Member] | Puerto Rico [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Held To Maturity Securities		$ 138,500,000
Percentage Of Held To Maturity Securities		70.00%
Allowance for Credit Losse, Held-to-maturity securities		$ 9,300,000
ASC 326 | Municipal Bonds [Member] | Puerto Rico [Member] | Minimum [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reversion period		2
ASC 326 | Municipal Bonds [Member] | Puerto Rico [Member] | Maximum [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reversion period		3

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- Definition eversion period considered in the determination of the allowance credit losses (ACL) in connection with the adoption of current expected credit loss standard (CECL). + References No definition available. + Details Name: fbp_ReversionPeriod Namespace Prefix: fbp_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

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- Definition Days past due for interest and principal to considering a loan as non-performing with the exception of residential FHA/VA and credit card loans. + References No definition available. + Details Name: fbp_ThresholdPeriodPastDueOfFinancingReceivablesToBeConsideredNonperforming Namespace Prefix: fbp_ Data Type: xbrli:durationItemType Balance Type: na Period Type: duration

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- Definition The period over which borrowers must demonstrate a sustained performance in order to reverse a modified loan to accrual status. + References No definition available. + Details Name: fbp_Troubleddebtrestructuringssustainedperformanceperiod Namespace Prefix: fbp_ Data Type: xbrli:durationItemType Balance Type: na Period Type: duration

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- Definition Amount of allowance for credit loss on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 50 -Paragraph 9 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118955579&loc=SL82922900-210455 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 50 -Paragraph 9 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=118955579&loc=SL82922900-210455 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (aaa) -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27161-111563 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118942338&loc=SL82898722-210454 + Details Name: us-gaap_DebtSecuritiesAvailableForSaleAllowanceForCreditLoss Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition Amount of allowance for credit loss for debt security measured at amortized cost (held-to-maturity). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -Subparagraph (aaa) -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27232-111563 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118955202&loc=SL82895884-210446 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 + Details Name: us-gaap_DebtSecuritiesHeldToMaturityAllowanceForCreditLoss Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition Amount of investment in debt security measured at amortized cost (held-to-maturity), past due. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919253-210447 + Details Name: us-gaap_DebtSecuritiesHeldToMaturityPastDue Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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v3.20.1

LOANS HELD FOR INVESTMENT - Selected Information on TDRs Includes Recorded Investment by Loan Class and Modification Type (Detail) - Entity Loan Modification Program [Member] - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	$ 497,295	$ 487,997	$ 589,795	$ 582,647
Residential Portfolio Segment [Member] | Conventional Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	311,363	316,649
Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	4,275	4,321
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	82,719	66,849
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	74,332	74,979
Consumer Portfolio Segment [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	24,600
Consumer Portfolio Segment [Member] | Auto loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	14,186	14,540
Consumer Portfolio Segment [Member] | Finance Leases [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	1,551	1,532
Consumer Portfolio Segment [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	1,074	1,073
Consumer Portfolio Segment [Member] | Other Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	5,041	5,263
Consumer Portfolio Segment [Member] | Credit cards [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	2,754	2,791
Interest rate below market [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	25,447	26,068
Interest rate below market [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	19,098	19,570
Interest rate below market [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	23	24
Interest rate below market [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	561	579
Interest rate below market [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	3,766	3,810
Interest rate below market [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Interest rate below market [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Interest rate below market [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	24	26
Interest rate below market [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	1,975	2,059
Interest rate below market [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Maturity or term extension [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	33,451	34,682
Maturity or term extension [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	11,976	11,600
Maturity or term extension [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	2,436	2,469
Maturity or term extension [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	14,786	16,160
Maturity or term extension [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	2,259	2,276
Maturity or term extension [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	779	898
Maturity or term extension [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	33	40
Maturity or term extension [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	36	43
Maturity or term extension [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	1,146	1,196
Maturity or term extension [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Combination of reduction in interest rateand extension of maturity [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	281,794	289,303
Combination of reduction in interest rateand extension of maturity [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	216,114	221,667
Combination of reduction in interest rateand extension of maturity [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	1,634	1,639
Combination of reduction in interest rateand extension of maturity [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	11,481	12,077
Combination of reduction in interest rateand extension of maturity [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	40,598	40,896
Combination of reduction in interest rateand extension of maturity [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	6,641	7,393
Combination of reduction in interest rateand extension of maturity [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	897	1,066
Combination of reduction in interest rateand extension of maturity [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	773	845
Combination of reduction in interest rateand extension of maturity [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	923	953
Combination of reduction in interest rateand extension of maturity [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	2,733	2,767
Forgiveness of principal and/or interest [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	198	346
Forgiveness of principal and/or interest [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Forgiveness of principal and/or interest [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Forgiveness of principal and/or interest [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	142
Forgiveness of principal and/or interest [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Forgiveness of principal and/or interest [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Forgiveness of principal and/or interest [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Forgiveness of principal and/or interest [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Forgiveness of principal and/or interest [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	177	180
Forgiveness of principal and/or interest [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	21	24
Forbearance Agreement [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	39,055	20,682
Forbearance Agreement [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	223	142
Forbearance Agreement [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Forbearance Agreement [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	19,056	692
Forbearance Agreement [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	19,776	19,848
Forbearance Agreement [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Forbearance Agreement [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Forbearance Agreement [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Forbearance Agreement [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Forbearance Agreement [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Other Loan Modifications [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	117,350	116,916
Other Loan Modifications [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	63,952	63,670
Other Loan Modifications [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	182	189
Other Loan Modifications [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	36,835	37,199
Other Loan Modifications [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	7,933	8,149
Other Loan Modifications [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	6,766	6,249
Other Loan Modifications [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	621	426
Other Loan Modifications [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	241	159
Other Loan Modifications [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	820	875
Other Loan Modifications [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	487,253	477,776
Puerto Rico and Virgin Islands regions [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	307,883	313,147
Puerto Rico and Virgin Islands regions [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	4,275	4,321
Puerto Rico and Virgin Islands regions [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	82,427	66,534
Puerto Rico and Virgin Islands regions [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	68,853	69,451
Puerto Rico and Virgin Islands regions [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	14,093	14,424
Puerto Rico and Virgin Islands regions [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	1,551	1,532
Puerto Rico and Virgin Islands regions [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	1,074	1,073
Puerto Rico and Virgin Islands regions [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	4,343	4,503
Puerto Rico and Virgin Islands regions [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	2,754	2,791
Puerto Rico and Virgin Islands regions [Member] | Interest rate below market [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	21,532	22,119
Puerto Rico and Virgin Islands regions [Member] | Interest rate below market [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	18,096	18,561
Puerto Rico and Virgin Islands regions [Member] | Interest rate below market [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	23	24
Puerto Rico and Virgin Islands regions [Member] | Interest rate below market [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	561	579
Puerto Rico and Virgin Islands regions [Member] | Interest rate below market [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	890	909
Puerto Rico and Virgin Islands regions [Member] | Interest rate below market [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Puerto Rico and Virgin Islands regions [Member] | Interest rate below market [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Puerto Rico and Virgin Islands regions [Member] | Interest rate below market [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	24	26
Puerto Rico and Virgin Islands regions [Member] | Interest rate below market [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	1,938	2,020
Puerto Rico and Virgin Islands regions [Member] | Interest rate below market [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Puerto Rico and Virgin Islands regions [Member] | Maturity or term extension [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	32,112	33,311
Puerto Rico and Virgin Islands regions [Member] | Maturity or term extension [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	11,566	11,188
Puerto Rico and Virgin Islands regions [Member] | Maturity or term extension [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	2,436	2,469
Puerto Rico and Virgin Islands regions [Member] | Maturity or term extension [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	14,786	16,160
Puerto Rico and Virgin Islands regions [Member] | Maturity or term extension [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	1,404	1,414
Puerto Rico and Virgin Islands regions [Member] | Maturity or term extension [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	705	801
Puerto Rico and Virgin Islands regions [Member] | Maturity or term extension [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	33	40
Puerto Rico and Virgin Islands regions [Member] | Maturity or term extension [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	36	43
Puerto Rico and Virgin Islands regions [Member] | Maturity or term extension [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	1,146	1,196
Puerto Rico and Virgin Islands regions [Member] | Maturity or term extension [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Puerto Rico and Virgin Islands regions [Member] | Combination of reduction in interest rateand extension of maturity [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	277,809	285,287
Puerto Rico and Virgin Islands regions [Member] | Combination of reduction in interest rateand extension of maturity [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	214,077	219,618
Puerto Rico and Virgin Islands regions [Member] | Combination of reduction in interest rateand extension of maturity [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	1,634	1,639
Puerto Rico and Virgin Islands regions [Member] | Combination of reduction in interest rateand extension of maturity [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	11,481	12,077
Puerto Rico and Virgin Islands regions [Member] | Combination of reduction in interest rateand extension of maturity [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	38,850	39,131
Puerto Rico and Virgin Islands regions [Member] | Combination of reduction in interest rateand extension of maturity [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	6,622	7,374
Puerto Rico and Virgin Islands regions [Member] | Combination of reduction in interest rateand extension of maturity [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	897	1,066
Puerto Rico and Virgin Islands regions [Member] | Combination of reduction in interest rateand extension of maturity [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	773	845
Puerto Rico and Virgin Islands regions [Member] | Combination of reduction in interest rateand extension of maturity [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	742	770
Puerto Rico and Virgin Islands regions [Member] | Combination of reduction in interest rateand extension of maturity [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	2,733	2,767
Puerto Rico and Virgin Islands regions [Member] | Forgiveness of principal and/or interest [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	198	346
Puerto Rico and Virgin Islands regions [Member] | Forgiveness of principal and/or interest [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Puerto Rico and Virgin Islands regions [Member] | Forgiveness of principal and/or interest [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Puerto Rico and Virgin Islands regions [Member] | Forgiveness of principal and/or interest [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	142
Puerto Rico and Virgin Islands regions [Member] | Forgiveness of principal and/or interest [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Puerto Rico and Virgin Islands regions [Member] | Forgiveness of principal and/or interest [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Puerto Rico and Virgin Islands regions [Member] | Forgiveness of principal and/or interest [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Puerto Rico and Virgin Islands regions [Member] | Forgiveness of principal and/or interest [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Puerto Rico and Virgin Islands regions [Member] | Forgiveness of principal and/or interest [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	177	180
Puerto Rico and Virgin Islands regions [Member] | Forgiveness of principal and/or interest [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	21	24
Puerto Rico and Virgin Islands regions [Member] | Forbearance Agreement [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	39,055	20,682
Puerto Rico and Virgin Islands regions [Member] | Forbearance Agreement [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	223	142
Puerto Rico and Virgin Islands regions [Member] | Forbearance Agreement [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Puerto Rico and Virgin Islands regions [Member] | Forbearance Agreement [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	19,056	692
Puerto Rico and Virgin Islands regions [Member] | Forbearance Agreement [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	19,776	19,848
Puerto Rico and Virgin Islands regions [Member] | Forbearance Agreement [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Puerto Rico and Virgin Islands regions [Member] | Forbearance Agreement [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Puerto Rico and Virgin Islands regions [Member] | Forbearance Agreement [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Puerto Rico and Virgin Islands regions [Member] | Forbearance Agreement [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Puerto Rico and Virgin Islands regions [Member] | Forbearance Agreement [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Puerto Rico and Virgin Islands regions [Member] | Other Loan Modifications [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	116,547	116,031
Puerto Rico and Virgin Islands regions [Member] | Other Loan Modifications [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	63,921	63,638
Puerto Rico and Virgin Islands regions [Member] | Other Loan Modifications [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	182	189
Puerto Rico and Virgin Islands regions [Member] | Other Loan Modifications [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	36,543	36,884
Puerto Rico and Virgin Islands regions [Member] | Other Loan Modifications [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	7,933	8,149
Puerto Rico and Virgin Islands regions [Member] | Other Loan Modifications [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	6,766	6,249
Puerto Rico and Virgin Islands regions [Member] | Other Loan Modifications [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	621	426
Puerto Rico and Virgin Islands regions [Member] | Other Loan Modifications [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	241	159
Puerto Rico and Virgin Islands regions [Member] | Other Loan Modifications [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	340	337
Puerto Rico and Virgin Islands regions [Member] | Other Loan Modifications [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	10,042	10,221
Florida region | Residential Portfolio Segment [Member] | Conventional Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	3,480	3,502
Florida region | Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	292	315
Florida region | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	5,479	5,528
Florida region | Consumer Portfolio Segment [Member] | Auto loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	93	116
Florida region | Consumer Portfolio Segment [Member] | Finance Leases [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Consumer Portfolio Segment [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Consumer Portfolio Segment [Member] | Other Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	698	760
Florida region | Consumer Portfolio Segment [Member] | Credit cards [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Interest rate below market [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	3,915	3,949
Florida region | Interest rate below market [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	1,002	1,009
Florida region | Interest rate below market [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Interest rate below market [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Interest rate below market [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	2,876	2,901
Florida region | Interest rate below market [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Interest rate below market [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Interest rate below market [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Interest rate below market [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	37	39
Florida region | Interest rate below market [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Maturity or term extension [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	1,339	1,371
Florida region | Maturity or term extension [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	410	412
Florida region | Maturity or term extension [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Maturity or term extension [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Maturity or term extension [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	855	862
Florida region | Maturity or term extension [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	74	97
Florida region | Maturity or term extension [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Maturity or term extension [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Maturity or term extension [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Maturity or term extension [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Combination of reduction in interest rateand extension of maturity [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	3,985	4,016
Florida region | Combination of reduction in interest rateand extension of maturity [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	2,037	2,049
Florida region | Combination of reduction in interest rateand extension of maturity [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Combination of reduction in interest rateand extension of maturity [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Combination of reduction in interest rateand extension of maturity [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	1,748	1,765
Florida region | Combination of reduction in interest rateand extension of maturity [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	19	19
Florida region | Combination of reduction in interest rateand extension of maturity [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Combination of reduction in interest rateand extension of maturity [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Combination of reduction in interest rateand extension of maturity [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	181	183
Florida region | Combination of reduction in interest rateand extension of maturity [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Forgiveness of principal and/or interest [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Forgiveness of principal and/or interest [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Forgiveness of principal and/or interest [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Forgiveness of principal and/or interest [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Forgiveness of principal and/or interest [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Forgiveness of principal and/or interest [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Forgiveness of principal and/or interest [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Forgiveness of principal and/or interest [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Forgiveness of principal and/or interest [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Forgiveness of principal and/or interest [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Forbearance Agreement [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Forbearance Agreement [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Forbearance Agreement [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Forbearance Agreement [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Forbearance Agreement [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Forbearance Agreement [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Forbearance Agreement [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Forbearance Agreement [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Forbearance Agreement [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Forbearance Agreement [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Other Loan Modifications [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	803	885
Florida region | Other Loan Modifications [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	31	32
Florida region | Other Loan Modifications [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Other Loan Modifications [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	292	315
Florida region | Other Loan Modifications [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Other Loan Modifications [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Other Loan Modifications [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Other Loan Modifications [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	0	0
Florida region | Other Loan Modifications [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	480	538
Florida region | Other Loan Modifications [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Recorded Investment	$ 0	$ 0

X

- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details Name: us-gaap_FinancingReceivableModificationsLineItems Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

X

- Definition Amount of financing receivable modified as troubled debt restructuring. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953676-111524 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 40 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=118939409&loc=d3e18845-111554 + Details Name: us-gaap_FinancingReceivableModificationsRecordedInvestment Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Details Name: us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=fbp_FinanceLeasesMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=fbp_PersonalLoansMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=fbp_OtherLoansMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=us-gaap_CreditCardReceivablesMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

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X

- Details Name: us-gaap_LoanRestructuringModificationAxis=us-gaap_ExtendedMaturityMember Namespace Prefix: Data Type: na Balance Type: Period Type:

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- Details Name: us-gaap_LoanRestructuringModificationAxis=fbp_PrincipalAndOrInterestForgivenessMember Namespace Prefix: Data Type: na Balance Type: Period Type:

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- Details Name: us-gaap_LoanRestructuringModificationAxis=us-gaap_PaymentDeferralMember Namespace Prefix: Data Type: na Balance Type: Period Type:

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- Details Name: srt_StatementGeographicalAxis=fbp_PrandviMember Namespace Prefix: Data Type: na Balance Type: Period Type:

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- Details Name: srt_StatementGeographicalAxis=stpr_FL Namespace Prefix: Data Type: na Balance Type: Period Type:

v3.20.1

LOANS HELD FOR INVESTMENT - Corporation's nonaccrual status and loans 90 days or more still accruing (Parenthetical) (Detail) - Loans held for investmet [Member] - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, before Allowance for Credit Loss	$ 9,038,947	$ 9,002,205
Financing Receivable, 90 Days or More Past Due, Still Accruing	131,441	135,042
PCD loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, before Allowance for Credit Loss	134,000	136,700
Financing Receivable, 90 Days or More Past Due, Still Accruing	25,400	27,000
Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, before Allowance for Credit Loss	7,103,906	7,128,277
Financing Receivable, 90 Days or More Past Due, Still Accruing	130,729	134,913
Puerto Rico and Virgin Islands regions [Member] | PCD loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, before Allowance for Credit Loss	134,000	136,700
Financing Receivable, 90 Days or More Past Due, Still Accruing	25,400	27,000
Florida region [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, before Allowance for Credit Loss	1,935,041	1,873,928
Financing Receivable, 90 Days or More Past Due, Still Accruing	712	129
Accrual Status [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring	401,600	398,300
Accrual Status [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring	391,900	388,400
Accrual Status [Member] | Florida region [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring	$ 9,700	$ 9,900

X

- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details Name: us-gaap_FinancingReceivableModificationsLineItems Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

X

- Definition Amount of financing receivable modified as troubled debt restructuring. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953676-111524 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 40 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=118939409&loc=d3e18845-111554 + Details Name: us-gaap_FinancingReceivableModificationsRecordedInvestment Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of financing receivable 90 days or more past due and still accruing. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 16 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919258-210447 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 7 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=118936363&loc=d3e5111-111524 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 80 -URI http://asc.fasb.org/extlink&oid=118955255&loc=SL82922355-210448 + Details Name: us-gaap_FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount, before allowance for credit loss, of financing receivable. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 5 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919230-210447 + Details Name: us-gaap_NotesReceivableGross Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Details Name: us-gaap_FairValueByAssetClassAxis=fbp_HeldToInvestmentLoansMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_CreditLossStatusAxis=us-gaap_FinancialAssetAcquiredWithCreditDeteriorationMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: srt_StatementGeographicalAxis=fbp_PrandviMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: srt_StatementGeographicalAxis=country_US Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember Namespace Prefix: Data Type: na Balance Type: Period Type:

v3.20.1

INVESTMENT SECURITIES - Significant Assumptions in Valuation of Private Label MBS (Detail) - MBS [Member] - Private label [Member]	Mar. 31, 2020	Dec. 31, 2019
Discount rate [Member] | Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale, Measurement Input	0.127	0.137
Discount rate [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale, Measurement Input	0.127	0.137
Discount rate [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale, Measurement Input	0.127	0.137
Prepayment rate [Member] | Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale, Measurement Input	0.079	0.079
Prepayment rate [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale, Measurement Input	0.068	0.068
Prepayment rate [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale, Measurement Input	0.103	0.103
Projected Cumulative Loss Rate [Member] | Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale, Measurement Input	0.089	0.028
Projected Cumulative Loss Rate [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale, Measurement Input	0.026	0.000
Projected Cumulative Loss Rate [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale, Measurement Input	0.207	0.074

X

- Definition Value of input used to measure investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details Name: us-gaap_DebtSecuritiesAvailableForSaleMeasurementInput Namespace Prefix: us-gaap_ Data Type: xbrli:decimalItemType Balance Type: na Period Type: instant

X

- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details Name: us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

X

- Details Name: us-gaap_FinancialInstrumentAxis=us-gaap_MortgageBackedSecuritiesMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_InvestmentTypeAxis=us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_MeasurementInputTypeAxis=us-gaap_MeasurementInputDiscountRateMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: srt_RangeAxis=srt_WeightedAverageMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: srt_RangeAxis=srt_MinimumMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: srt_RangeAxis=srt_MaximumMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_MeasurementInputTypeAxis=us-gaap_MeasurementInputPrepaymentRateMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_MeasurementInputTypeAxis=us-gaap_MeasurementInputLossSeverityMember Namespace Prefix: Data Type: na Balance Type: Period Type:

v3.20.1

STOCK-BASED COMPENSATION - Restricted Stock Activity Under Omnibus Plan (Detail) - Omnibus Plan [Member] - Restricted Stock [Member]	3 Months Ended
	Mar. 31, 2020 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested shares outstanding at beginning of year | shares	644,805
Granted | shares	851,673
Vested | shares	(184,370)
Unvested shares outstanding, end of period | shares	1,312,108
Weighted-Average Grant Date Fair Value, beginning of period | $ / shares	$ 8.51
Weighted-Average Grant Date Fair Value of Stocks | $ / shares	4.08
Weighted-Averages Grant Date Fair Value, Vested | $ / shares	6.51
Weighted-Average Grant Date Fair Value, end of period | $ / shares	$ 5.91

X

- Definition The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2)(iii)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details Name: us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue Namespace Prefix: us-gaap_ Data Type: num:perShareItemType Balance Type: na Period Type: duration

X

- Definition The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2)(i)-(ii) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details Name: us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber Namespace Prefix: us-gaap_ Data Type: xbrli:sharesItemType Balance Type: na Period Type: instant

X

- Definition Per share or unit weighted-average fair value of nonvested award under share-based payment arrangement. Excludes share and unit options. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2)(i)-(ii) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details Name: us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue Namespace Prefix: us-gaap_ Data Type: num:perShareItemType Balance Type: na Period Type: instant

X

- Definition The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2)(iii)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details Name: us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod Namespace Prefix: us-gaap_ Data Type: xbrli:sharesItemType Balance Type: na Period Type: duration

X

- Definition The weighted average fair value as of grant date pertaining to an equity-based award plan other than a stock (or unit) option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash in accordance with the terms of the arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2)(iii)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details Name: us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue Namespace Prefix: us-gaap_ Data Type: num:perShareItemType Balance Type: na Period Type: duration

X

- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details Name: us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

X

- Definition Total number of shares issued during the period, including shares forfeited, as a result of Restricted Stock Awards. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21463-112644 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 + Details Name: us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardGross Namespace Prefix: us-gaap_ Data Type: xbrli:sharesItemType Balance Type: na Period Type: duration

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- Details Name: us-gaap_PlanNameAxis=fbp_OmnibusPlanMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_AwardTypeAxis=us-gaap_RestrictedStockMember Namespace Prefix: Data Type: na Balance Type: Period Type:

v3.20.1

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares		3 Months Ended
	Feb. 14, 2019	Mar. 31, 2020	Mar. 31, 2019
Statement Of Stockholders Equity [Abstract]
Dividends declared per common share	$ 0.05	$ 0.05	$ 0.03

X

- Definition Aggregate dividends declared during the period for each share of common stock outstanding. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 + Details Name: us-gaap_CommonStockDividendsPerShareDeclared Namespace Prefix: us-gaap_ Data Type: num:perShareItemType Balance Type: na Period Type: duration

X

- References No definition available. + Details Name: us-gaap_StatementOfStockholdersEquityAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

v3.20.1

EQUITY SECURITIES - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Summary of Investment Holdings [Line Items]
Capital stock par value	$ 100
Book value of investment in FHLB stock	$ 33,800		$ 34,100
Market-to-market gain (loss)	7,626	$ 8,950
Equity Securities without Readily Determinable Fair Value, Amount	39,630		38,249
Equity Securities [Member]
Summary of Investment Holdings [Line Items]
Equity Securities, FV-NI	1,500		1,400
Market-to-market gain (loss)	27	5
Equity Securities without Readily Determinable Fair Value, Amount	4,300		$ 2,800
Investment in Federal Home Loan Bank Stock [Member]
Summary of Investment Holdings [Line Items]
Dividend income from FHLB stock	$ 600	$ 700

X

- Definition Federal home loan bank capital stock par value. + References No definition available. + Details Name: fbp_FederalHomeLoanBankCapitalStockParValue Namespace Prefix: fbp_ Data Type: num:perShareItemType Balance Type: na Period Type: instant

X

- Definition Amount of operating dividend income on securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.2) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 + Details Name: us-gaap_DividendIncomeOperating Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

X

- Definition Amount of investment in equity security measured at fair value with change in fair value recognized in net income (FV-NI). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=99377092&loc=SL75136599-209740 + Details Name: us-gaap_EquitySecuritiesFvNi Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of investment in equity security without readily determinable fair value. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 321 -SubTopic 10 -Section 50 -Paragraph 3 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=116654751&loc=SL75117539-209714 + Details Name: us-gaap_EquitySecuritiesWithoutReadilyDeterminableFairValueAmount Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Federal Home Loan Bank (FHLB) stock represents an equity interest in a FHLB. It does not have a readily determinable fair value because its ownership is restricted and it lacks a market (liquidity). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 325 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=75031641&loc=d3e63345-112809 + Details Name: us-gaap_FederalHomeLoanBankStock Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of revenue earned, classified as other, excluding interest income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-03(1)(e)) -URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868656-224227 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(13)) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(4)) -URI http://asc.fasb.org/extlink&oid=116637232&loc=SL114874131-224263 + Details Name: us-gaap_NoninterestIncomeOtherOperatingIncome Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

X

- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details Name: us-gaap_SummaryOfInvestmentHoldingsLineItems Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

X

- Details Name: us-gaap_InvestmentTypeAxis=us-gaap_EquitySecuritiesMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_FairValueByAssetClassAxis=us-gaap_InvestmentInFederalHomeLoanBankStockMember Namespace Prefix: Data Type: na Balance Type: Period Type:

v3.20.1

CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Interest and dividend income:
Loans	$ 147,126	$ 147,625
Investment securities	15,876	16,018
Money market investments and interest-bearing cash accounts	2,262	2,829
Total interest income	165,264	166,472
Interest expense:
Deposits	19,654	17,492
Securities sold under agreements to repurchase	1,918	2,548
Loans payable	3	0
Advances from FHLB	3,008	3,785
Other borrowings	2,032	2,466
Total interest expense	26,615	26,291
Net interest income	138,649	140,181
Provision for Loan, Lease, and Other Losses [Abstract]
Provision (release) for credit losses	74,045	11,820
Provision for credit losses total	77,366	11,408
Net interest income after provision for credit losses	61,283	128,773
Non-interest income:
Service charges and fees on deposit accounts	5,957	5,716
Mortgage banking activities	3,788	3,627
Net gain on sale of investments	8,247	0
Insurance commission income	4,582	4,250
Market-to-market gain (loss)	7,626	8,950
Total non-interest income	30,200	22,543
Non-interest expenses:
Employees' compensation and benefits	42,859	39,296
Occupancy and equipment	15,127	16,055
Business promotion	3,622	3,706
Professional fees	11,793	10,310
Taxes, other than income taxes	3,880	3,820
FDIC deposit insurance	1,522	1,698
Net loss on OREO and OREO operations	1,188	3,743
Credit and debit card processing expenses	3,950	4,154
Communications	1,877	1,752
Merger and Restructuring costs	845	0
Other non-interest expenses	5,521	5,850
Total non-interest expenses	92,184	90,384
(Loss) income before income taxes	(701)	60,932
Income Tax Expense (Benefit)	(2,967)	17,618
Net income	2,266	43,314
Net income attributable to common stockholders	$ 1,597	$ 42,645
Net income per common share:
Basic	$ 0.01	$ 0.20
Diluted	$ 0.01	$ 0.20
Debt Securities [Member]
Provision for Loan, Lease, and Other Losses [Abstract]
Provision for Other Credit Losses	$ 1,502	$ 0
Unfunded Loan Commitment [Member]
Provision for Loan, Lease, and Other Losses [Abstract]
Provision for Other Credit Losses	$ 1,819	$ (412)

X

- Definition Non interest expense related to the processing of credit and debit cards. + References No definition available. + Details Name: fbp_CreditAndDebitProcessingFees Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

X

- References No definition available. + Details Name: fbp_Feesandcommissionsdepositoraccounts1 Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

X

- Definition Interest expense incurred during the reporting period on short-term and long-term borrowings associated with Federal Home Loan Bank advances. + References No definition available. + Details Name: fbp_InterestExpenseFederalHomeLoanBankAdvances Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

X

- Definition Interest expense incurred during the reporting period associated with Federal Reserve Bank advances. + References No definition available. + Details Name: fbp_InterestExpenseFederalReserveBankAdvances Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

X

- References No definition available. + Details Name: fbp_Netlossonrealestateownedoperations Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

X

- Definition This element represents acquisition-related costs incurred to effect a business combination which costs have been expensed during the period. Such costs include finder's fees; advisory, legal, accounting, valuation, and other professional or consulting fees; general administrative costs, including the costs of maintaining an internal acquisitions department; and may include costs of registering and issuing debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 25 -Paragraph 23 -URI http://asc.fasb.org/extlink&oid=116868678&loc=d3e1043-128460 + Details Name: us-gaap_BusinessCombinationAcquisitionRelatedCosts Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

X

- Definition The amount of expense in the period for communications and data processing expense. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.4) -URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227 + Details Name: us-gaap_CommunicationsAndInformationTechnology Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

X

- References No definition available. + Details Name: us-gaap_EarningsPerShareAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -URI http://asc.fasb.org/extlink&oid=116637232&loc=SL114874131-224263 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=117326831&loc=d3e1337-109256 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=117327953&loc=d3e4984-109258 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=117326831&loc=d3e1252-109256 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 60B -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=117326831&loc=SL5780133-109256 + Details Name: us-gaap_EarningsPerShareBasic Namespace Prefix: us-gaap_ Data Type: num:perShareItemType Balance Type: na Period Type: duration

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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=117327953&loc=d3e4984-109258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=117326831&loc=d3e1252-109256 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=117326831&loc=d3e1337-109256 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 60B -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=117326831&loc=SL5780133-109256 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -URI http://asc.fasb.org/extlink&oid=116637232&loc=SL114874131-224263 + Details Name: us-gaap_EarningsPerShareDiluted Namespace Prefix: us-gaap_ Data Type: num:perShareItemType Balance Type: na Period Type: duration

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- Definition Amount of expense for Federal Deposit Insurance Corporation (FDIC) insurance. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.14) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 + Details Name: us-gaap_FederalDepositInsuranceCorporationPremiumExpense Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition Income from mortgage banking activities (fees and commissions) and servicing real estate mortgages, credit cards, and other financial assets held by others net of any related impairment of capitalized service costs. Also includes any premiums received in lieu of regular servicing fees on such loans only as earned over the life of the loans. + References No definition available. + Details Name: us-gaap_FeesAndCommissionsMortgageBankingAndServicing Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition The difference between the carrying value and the sale price of an investment. A gain would be recognized when the sale price of the investment is greater than the carrying value of the investment. This element refers to the Gain included in earnings and not to the cash proceeds of the sale. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(3)(a)) -URI http://asc.fasb.org/extlink&oid=116637232&loc=SL114874131-224263 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(13)) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(b)(9)(a)) -URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(b)(7)(c)) -URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227 + Details Name: us-gaap_GainOnSaleOfInvestments Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 20 -Section 25 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68072869&loc=d3e41242-110953 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(10)) -URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(8)) -URI http://asc.fasb.org/extlink&oid=116637232&loc=SL114874131-224263 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(15)) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 + Details Name: us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 20 -Section 45 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=109238882&loc=d3e38679-109324 + Details Name: us-gaap_IncomeTaxExpenseBenefit Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition Investment income associated with the company's insurance services. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.2) -URI http://asc.fasb.org/extlink&oid=116637232&loc=SL114874131-224263 + Details Name: us-gaap_InsuranceInvestmentIncome Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition Represents the total of interest and dividend income, including any amortization and accretion (as applicable) of discounts and premiums, earned from (1) loans and leases whether held-for-sale or held-in-portfolio; (2) investment securities; (3) federal funds sold; (4) securities purchased under agreements to resell; (5) investments in banker's acceptances, commercial paper, or certificates of deposit; (6) dividend income; or (7) other investments not otherwise specified herein. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.1-5) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 + Details Name: us-gaap_InterestAndDividendIncomeOperating Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- References No definition available. + Details Name: us-gaap_InterestAndDividendIncomeOperatingAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

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- Definition Amount of operating dividend and interest income, including amortization and accretion of premiums and discounts, on securities. + References No definition available. + Details Name: us-gaap_InterestAndDividendIncomeSecurities Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition The aggregate interest and fee income generated by: (1) loans the Entity has positive intent and ability to hold for the foreseeable future, or until maturity or payoff, including commercial and consumer loans, whether domestic or foreign, which may consist of: (a) industrial and agricultural; (b) real estate; and (c) real estate construction loans; (d) trade financing; (e) lease financing; (f) home equity lines-of-credit; (g) automobile and other vehicle loans; and (h) credit card and other revolving-type loans and (2) loans and leases held-for-sale which may include mortgage loans, direct financing, and sales-type leases. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.1) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 + Details Name: us-gaap_InterestAndFeeIncomeLoansAndLeases Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition Amount of the cost of borrowed funds accounted for as interest expense. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6450988&loc=d3e26243-108391 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28555-108399 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (210.5-03(11)) -URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.9) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 + Details Name: us-gaap_InterestExpense Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- References No definition available. + Details Name: us-gaap_InterestExpenseAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

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- Definition Aggregate amount of interest expense on all deposits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.6) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 + Details Name: us-gaap_InterestExpenseDeposits Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition The aggregate expense incurred on federal funds purchased and securities sold under agreements to repurchase. If amounts recognized as payables under repurchase agreements have been offset against amounts recognized as receivables under reverse repurchase agreements and reported as a net amount on the balance sheet, the income and expense from these agreements may be reported on a net basis. + References No definition available. + Details Name: us-gaap_InterestExpenseFederalFundsPurchasedAndSecuritiesSoldUnderAgreementsToRepurchase Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition Amount of interest expense incurred on long-term debt classified as other, including, but not limited to, interest on long-term notes and amortization of issuance costs. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.8) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 + Details Name: us-gaap_InterestExpenseOtherLongTermDebt Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition Amount of interest income or expense, including any amortization and accretion (as applicable) of discounts and premiums, including consideration of the provisions for loan, lease, credit, and other related losses. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.12) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 + Details Name: us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition The net amount of operating interest income (expense). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.10) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 + Details Name: us-gaap_InterestIncomeExpenseNet Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition Amount of expense for salary, wage, profit sharing; incentive and equity-based compensation; and other employee benefit. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(b)(4)) -URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227 + Details Name: us-gaap_LaborAndRelatedExpense Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition The total expense recognized in the period for promotion, public relations, and brand or product advertising. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.4) -URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227 + Details Name: us-gaap_MarketingAndAdvertisingExpense Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1A -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669619-108580 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(22)) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1B -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669625-108580 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(18)) -URI http://asc.fasb.org/extlink&oid=116637232&loc=SL114874131-224263 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(20)) -URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details Name: us-gaap_NetIncomeLoss Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=117326831&loc=d3e1377-109256 + Details Name: us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition Total aggregate amount of all noninterest expense. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.14) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 + Details Name: us-gaap_NoninterestExpense Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

X

- References No definition available. + Details Name: us-gaap_NoninterestExpenseAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

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- Definition The total amount of noninterest income which may be derived from: (1) fees and commissions; (2) premiums earned; (3) insurance policy charges; (4) the sale or disposal of assets; and (5) other sources not otherwise specified. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.13) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 + Details Name: us-gaap_NoninterestIncome Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- References No definition available. + Details Name: us-gaap_NoninterestIncomeAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

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- Definition Amount of revenue earned, classified as other, excluding interest income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-03(1)(e)) -URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868656-224227 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(13)) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(4)) -URI http://asc.fasb.org/extlink&oid=116637232&loc=SL114874131-224263 + Details Name: us-gaap_NoninterestIncomeOtherOperatingIncome Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition Amount of expense related to estimated loss from loan and lease transactions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.11) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953423-111524 + Details Name: us-gaap_ProvisionForLoanAndLeaseLosses Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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v3.20.1

REGULATORY MATTERS, COMMITMENTS AND CONTINGENCIES - Additional Information (Detail) - Basel III [Member]	3 Months Ended
	Mar. 31, 2020
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Conservation Buffer	2.50%
Minimum [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common Equity Tier 1 Capital To Risk Weight Assets Ratio Capital Adequacy	4.50%
Common Equity Tier1 Capital To Risk Weight Assets Ratio Plus Common Equity Tier 1 Capital Conservation Buffer	7.00%
Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets	6.00%
Total Tier 1 Capital To Risk Weight Assets Ratio Plus Common Equity Tier 1 Capital Conservation Buffer	8.50%
Capital Required For Capital Adequacy To Risk Weighted Assets	8.00%
Capital Required For Capital Adequacy To Risk Weighted Assets Plus Common Equity Tier 1 Capital Conservation Buffer	10.50%
Leverage Ratio Required Fo Capital Adequacy Ratio	4.00%

X

- Definition Minimun Total capital to risk weight assets for capital adequacy purposes plus capital conservation buffer as required by Basel III rule. + References No definition available. + Details Name: fbp_CapitalRequiredForCapitalAdequacyToRiskWeightedAssetsPlusCommonEquityTier1CapitalConservationBuffer Namespace Prefix: fbp_ Data Type: num:percentItemType Balance Type: na Period Type: instant

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- Definition Common Equity Tier 1 capital divided by risk weighted assets for capital adequacy as defined by new Basel III rule. + References No definition available. + Details Name: fbp_CommonEquityTier1CapitalToRiskWeightAssetsRatioCapitalAdequacy Namespace Prefix: fbp_ Data Type: num:percentItemType Balance Type: na Period Type: instant

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- Definition Minimun common equity tier 1 capital to risk weight assets for capital adequacy purposes plus capital conservation buffer as required by Basel III rule. + References No definition available. + Details Name: fbp_CommonEquityTier1CapitalToRiskWeightAssetsRatioPlusCommonEquityTier1CapitalConservationBuffer Namespace Prefix: fbp_ Data Type: num:percentItemType Balance Type: na Period Type: instant

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v3.20.1

NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS (Tables)	3 Months Ended
	Mar. 31, 2020
Transfers and Servicing [Abstract]
Changes in Servicing Assets [Table Text Block]	The changes in servicing assets are shown below for the indicated periods:                       Quarter ended       March 31,   March 31,       2020   2019   (In thousands)             Balance at beginning of period $ 26,762   $ 27,428   Capitalization of servicing assets   904     868   Amortization   (1,009)     (810)   Temporary impairment charges, net   (138)     (20)   Other (1)   (35)     (35)   Balance at end of period $ 26,484   $ 27,431                   (1) Amount represents adjustments related to the repurchase of loans serviced for others.
Changes in Impairment Allowance [Table Text Block]	Changes in the impairment allowance were as follows for the indicated periods:                 Quarter ended     March 31,   March 31,     2020   2019   (In thousands)             Balance at beginning of period $ 73   $ 30   Temporary impairment charges   138     24   OTTI of servicing assets   (77)     -   Recoveries   -     (4)   Balance at end of period $ 134   $ 50
Components of Net Servicing Income [Table Text Block]	The components of net servicing income, included as part of mortgage banking activities in the consolidated statements of income, are shown below for the indicated periods:                     Quarter ended       March 31,   March 31,       2020   2019   (In thousands)     Servicing fees $ 2,134   $ 2,060   Late charges and prepayment penalties   150     154   Adjustment for loans repurchased   (35)     (35)   Other   -     (15)   Servicing income, gross   2,249     2,164   Amortization and impairment of servicing assets   (1,147)     (830)   Servicing income, net $ 1,102   $ 1,334
Weighted-Averages of Key Economic Assumptions in Valuation Model [Table Text Block]	The weighted averages of the key economic assumptions that the Corporation used in its valuation model and the sensitivity of the current fair value to immediate 10% and 20% adverse changes in those assumptions for mortgage loans as of March 31, 2020 and December 31, 2019 were as follows:   March 31,   December 31,   2020   2019 (In thousands)       Carrying amount of servicing assets $ 26,484   $ 26,762 Fair value $ 30,337   $ 31,027 Weighted-average expected life (in years)   8.39     8.39             Constant prepayment rate (weighted-average annual rate)   6.46%     6.45% Decrease in fair value due to 10% adverse change $ 764   $ 748 Decrease in fair value due to 20% adverse change $ 1,496   $ 1,464             Discount rate (weighted-average annual rate)   11.27%     11.27% Decrease in fair value due to 10% adverse change $ 1,393   $ 1,450 Decrease in fair value due to 20% adverse change $ 2,677   $ 2,783

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v3.20.1

OTHER BORROWINGS (Tables)	3 Months Ended
	Mar. 31, 2020
Subordinated Borrowings [Abstract]
Components of Other Borrowings [Table Text Block]	Other borrowings, as of the indicated dates, consisted of:   March 31,   December 31,   2020   2019   (In thousands) Floating rate junior subordinated debentures (FBP Statutory Trust I) (1) $ 65,593   $ 65,593 Floating rate junior subordinated debentures (FBP Statutory Trust II) (2)   118,557     118,557   $ 184,150   $ 184,150

X

- Definition Tabular disclosure of borrowings under subordinated debt agreements that qualify as available in computing net capital under SEC uniform net capital rules for broker-dealers, including restrictive covenants, collateral, interest rates and due dates, amounts due by date and amount owed in total. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6479118&loc=d3e64650-112822 + Details Name: us-gaap_ScheduleOfSubordinatedBorrowingTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

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v3.20.1

SUPPLEMENTAL CASH FLOW INFORMATION - Supplemental Cash Flow Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Cash paid for:
Interest on borrowings	$ 25,935	$ 25,368
Income tax	1,070	3,412
Operating cash flow from operating leases	2,550	2,742
Non-cash investing and financing activities:
Additions to OREO	5,283	12,264
Additions to auto and other repossessed assets	12,785	11,587
Capitalization of servicing assets	904	868
Loan securitizations	60,903	51,034
Loans held for investment transferred to held for sale	3,535	1,775
Right-of-use assets obtained in exchange for operating lease liabilities	274	0
Unsettled sales of available-for-sale investment securities	284,201	0
Adoption of lease accounting standard:
Right-of-use assets operating leases	59,488		$ 61,327
Operating lease liability	62,509		$ 64,259
ASU 2016-02 [Member]
Adoption of lease accounting standard:
Right-of-use assets operating leases	0	57,178
Operating lease liability	$ 0	$ 59,818

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- Definition Present value of lessee's discounted obligation for lease payments from operating lease. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 45 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=77888419&loc=SL77918627-209977 + Details Name: us-gaap_OperatingLeaseLiability Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition Amount of cash outflow from operating lease, excluding payments to bring another asset to condition and location necessary for its intended use. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 45 -Paragraph 5 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=77888419&loc=SL77918643-209977 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (g)(1) -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980 + Details Name: us-gaap_OperatingLeasePayments Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

X

- Definition Amount of lessee's right to use underlying asset under operating lease. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 45 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=77888419&loc=SL77918627-209977 + Details Name: us-gaap_OperatingLeaseRightOfUseAsset Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of real estate investments acquired through foreclosure for entities with a substantial portion of business acquiring and holding investment real estate. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -SubTopic 360 -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-28(Footnote 4)) -URI http://asc.fasb.org/extlink&oid=6590653&loc=d3e638233-123024 + Details Name: us-gaap_RealEstateAcquisitionsThroughForeclosures Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

X

- Definition Amount of increase in right-of-use asset obtained in exchange for operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 55 -Paragraph 53 -URI http://asc.fasb.org/extlink&oid=77888399&loc=SL77918982-209971 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (g)(2) -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980 + Details Name: us-gaap_RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

X

- Definition Amount of additions from purchases, assumption or transfer to contract to service financial assets under which the benefits of servicing are expected to more than adequately compensate the servicer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 4 -Subparagraph (a)(2) -URI http://asc.fasb.org/extlink&oid=116651436&loc=d3e122739-111746 + Details Name: us-gaap_ServicingAssetAtAmortizedValueAdditions Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition Value of loans and leases held in the entity's portfolio transferred to loans and leases held-for-sale in noncash transactions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=98513485&loc=d3e4304-108586 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=98513485&loc=d3e4332-108586 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=98513485&loc=d3e4313-108586 + Details Name: us-gaap_TransferOfPortfolioLoansAndLeasesToHeldForSale1 Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition Value transferred from mortgage loans to real estate owned (REO) in noncash transactions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=98513485&loc=d3e4313-108586 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=98513485&loc=d3e4304-108586 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=98513485&loc=d3e4332-108586 + Details Name: us-gaap_TransferToOtherRealEstate Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Details Name: us-gaap_AdjustmentsForNewAccountingPronouncementsAxis=us-gaap_AccountingStandardsUpdate201602Member Namespace Prefix: Data Type: na Balance Type: Period Type:

v3.20.1

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information [Table Text Block]	Quarter Ended March 31,   2020   2019 (In thousands)                       Cash paid for:                       Interest on borrowings $ 25,935   $ 25,368 Income tax   1,070     3,412 Operating cash flow from operating leases   2,550     2,742             Non-cash investing and financing activities:                       Additions to OREO   5,283     12,264 Additions to auto and other repossessed assets   12,785     11,587 Capitalization of servicing assets   904     868 Loan securitizations   60,903     51,034 Loans held for investment transferred to held for sale   3,535     1,775 Right-of-use assets obtained in exchange for operating lease liabilities   274     - Unsettled sales of available-for-sale investment securities   284,201     - Adoption of lease accounting standard:           Right-of-use assets operating leases   -     57,178 Operating lease liabilities   -     59,818

X

- Definition Tabular disclosure of supplemental cash flow information for the periods presented. + References No definition available. + Details Name: us-gaap_ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

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- References No definition available. + Details Name: us-gaap_SupplementalCashFlowElementsAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

v3.20.1

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS [Text Block]	NOTE 30 – SUBSEQUENT EVENTS   Management has reviewed the events occurring through the date of this report, and other than the discussion of the COVID-19 pandemic included in Note 1 – Basis of Presentation and Significant Accounting Policies above and updates on the pending acquisition of BSPR discussed in Note 2 – Potential Acquisition of Banco Santander Puerto Rico above, there were no subsequent events that require additional disclosure or adjustment to amounts reported in the Corporation’s consolidated financial statements as of and for the quarter ended March 31, 2020.

X

- References No definition available. + Details Name: us-gaap_SubsequentEventsAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details Name: us-gaap_SubsequentEventsTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

v3.20.1

SUPPLEMENTAL CASH FLOW INFORMATION	3 Months Ended
	Mar. 31, 2020
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION [Text Block]	NOTE 26 – SUPPLEMENTAL STATEMENT OF CASH FLOWS INFORMATION   Supplemental cash flow information is as follows for the indicated periods:   Quarter Ended March 31,   2020   2019 (In thousands)                       Cash paid for:                       Interest on borrowings $ 25,935   $ 25,368 Income tax   1,070     3,412 Operating cash flow from operating leases   2,550     2,742             Non-cash investing and financing activities:                       Additions to OREO   5,283     12,264 Additions to auto and other repossessed assets   12,785     11,587 Capitalization of servicing assets   904     868 Loan securitizations   60,903     51,034 Loans held for investment transferred to held for sale   3,535     1,775 Right-of-use assets obtained in exchange for operating lease liabilities   274     - Unsettled sales of available-for-sale investment securities   284,201     - Adoption of lease accounting standard:           Right-of-use assets operating leases   -     57,178 Operating lease liabilities   -     59,818

X

- Definition The entire disclosure for supplemental cash flow activities, including cash, noncash, and part noncash transactions, for the period. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -URI http://asc.fasb.org/topic&trid=2134446 + Details Name: us-gaap_CashFlowSupplementalDisclosuresTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

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- References No definition available. + Details Name: us-gaap_SupplementalCashFlowElementsAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

v3.20.1

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE - Schedule of Repurchase Agreement Maturity (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Assets Sold under Agreements to Repurchase [Line Items]
Securities Sold Under Agreements To Repurchase	$ 300,000	$ 100,000
One to three years
Assets Sold under Agreements to Repurchase [Line Items]
Securities Sold Under Agreements To Repurchase	100,000
Over three years to five years
Assets Sold under Agreements to Repurchase [Line Items]
Securities Sold Under Agreements To Repurchase	$ 200,000

X

- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details Name: us-gaap_AssetsSoldUnderAgreementsToRepurchaseLineItems Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

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- Definition Amount, after the effects of master netting arrangements, of funds outstanding borrowed in the form of a security repurchase agreement between the entity and another party for the sale and repurchase of identical or substantially the same securities at a date certain for a specified price. Includes liabilities not subject to a master netting arrangement and not elected to be offset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 55 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=99393222&loc=SL20226008-175313 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=49176635&loc=d3e9760-107771 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.13(1)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(m)(1)(a)(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details Name: us-gaap_SecuritiesSoldUnderAgreementsToRepurchase Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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v3.20.1

ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) - Advances from FHLB Mature (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Advances from Federal Home Loan Banks [Abstract]
Federal Home Loan Bank Advances Maturities Due Within One Month	$ 55,000
Federal Hom eLoan Bank Advances Maturities Due One Month To Three Months	20,000
Federal Home Loan Bank Advances Maturities Due Six Months To One Year	50,000
Federal Home Loan Bank Advances Maturities Due One To Three Years	440,000
Total Federal Home Loan Bank Advances	$ 565,000	$ 570,000

X

- Definition Amount of advances from Federal Home Loan Bank (FHLBank) maturing in six months to one year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. + References No definition available. + Details Name: fbp_FederalHomeLoanBankAdvancesMaturitiesDueSixMonthsToOneYear Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- References No definition available. + Details Name: fbp_FederalHomeLoanBankAdvancesMaturitiesDueWithinOneMonth Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- References No definition available. + Details Name: fbp_Federalhomeloanbankadvancesmaturitiesdueonemonthtothreemonths Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Amount of advances from Federal Home Loan Bank (FHLBank) maturing in one to three years. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. + References No definition available. + Details Name: fbp_Federalhomeloanbankadvancesmaturitiesdueonetothreeyears1 Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Amount of borrowings as of the balance sheet date from the Federal Home Loan Bank, which are primarily used to cover shortages in the required reserve balance and liquidity shortages. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6479118&loc=d3e64650-112822 + Details Name: us-gaap_AdvancesFromFederalHomeLoanBanks Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- References No definition available. + Details Name: us-gaap_AdvancesFromFederalHomeLoanBanksAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

v3.20.1

Label	Element	Value
Accounting Standards Update 2016-13 [Member] | Retained Earnings [Member]
Stockholders Equity After New Accounting Principle In Period Of Adoption	fbp_StockholdersEquityAfterNewAccountingPrincipleInPeriodOfAdoption	$ 1,159,495,000
Stockholders Equity After New Accounting Principle In Period Of Adoption	fbp_StockholdersEquityAfterNewAccountingPrincipleInPeriodOfAdoption	0
Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | Retained Earnings [Member]
Cumulative Effect Of New Accounting Principle In Period Of Adoption 1	fbp_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption1	0
Cumulative Effect Of New Accounting Principle In Period Of Adoption 1	fbp_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption1	$ (62,322,000)

X

- Definition Amount after tax of increase (decrease) to equity or (increase) decrease to net assets, resulting from the cumulative effect adjustment of a new accounting principle applied in the period of adoption. + References No definition available. + Details Name: fbp_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption1 Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent, as adjusted for new accounting principle in period of adoption. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. + References No definition available. + Details Name: fbp_StockholdersEquityAfterNewAccountingPrincipleInPeriodOfAdoption Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Details Name: us-gaap_AdjustmentsForNewAccountingPronouncementsAxis=us-gaap_AccountingStandardsUpdate201613Member Namespace Prefix: Data Type: na Balance Type: Period Type:

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- Details Name: us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember Namespace Prefix: Data Type: na Balance Type: Period Type:

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- Details Name: fbp_CumulativeEffectPeriodOfAdoptionAxis=fbp_CumulativeEffectPeriodOfAdoptionAdjustmentMember Namespace Prefix: Data Type: na Balance Type: Period Type:

v3.20.1

INCOME TAXES	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES [Text Block]	NOTE 22 - INCOME TAXES   Income tax expense includes Puerto Rico and USVI income taxes, as well as applicable U.S. federal and state taxes. The Corporation is subject to Puerto Rico income tax on its income from all sources. As a Puerto Rico corporation, First BanCorp. is treated as a foreign corporation for U.S. and USVI income tax purposes and, accordingly, is generally subject to U.S. and USVI income tax only on its income from sources within the U.S. and USVI or income effectively connected with the conduct of a trade or business in those jurisdictions. Any such tax paid in the U.S. and USVI is also creditable against the Corporation’s Puerto Rico tax liability, subject to certain conditions and limitations.   Under the Puerto Rico Internal Revenue Code of 2011, as amended (the “2011 PR Code”), the Corporation and its subsidiaries are treated as separate taxable entities and are not entitled to file consolidated tax returns and, thus, the Corporation is generally not entitled to utilize losses from one subsidiary to offset gains in another subsidiary. Accordingly, in order to obtain a tax benefit from a net operating loss (“NOL”), a particular subsidiary must be able to demonstrate sufficient taxable income within the applicable NOL carry-forward period. Pursuant to the 2011 PR Code, the carry-forward period for NOLs incurred during taxable years that commenced after December 31, 2004 and ended before January 1, 2013 is 12 years; for NOLs incurred during taxable years commencing after December 31, 2012, the carryover period is 10 years. The 2011 PR Code provides a dividend received deduction of 100% on dividends received from “controlled” subsidiaries subject to taxation in Puerto Rico and 85% on dividends received from other taxable domestic corporations.   The Corporation has maintained an effective tax rate lower than the maximum statutory rate of 37.5%, mainly by investing in government obligations and MBS exempt from U.S. and Puerto Rico income taxes and by doing business through an International Banking Entity (“IBE”) unit of the Bank, and through the Bank’s subsidiary, FirstBank Overseas Corporation, whose interest income and gains on sales is exempt from Puerto Rico income taxation. The IBE and FirstBank Overseas Corporation were created under the International Banking Entity Act of Puerto Rico, which provides for total Puerto Rico tax exemption on net income derived by IBEs operating in Puerto Rico on the specific activities identified in the IBE Act. An IBE that operates as a unit of a bank pays income taxes at the corporate standard rates to the extent that the IBE’s net income exceeds 20% of the bank’s total net taxable income.   The Coronavirus Aid, Relief, and Economic Security (CARES) Act, which the U.S. Congress enacted on March 27, 2020, includes several provisions to stimulate the U.S. economy in the midst of the COVID-19 pandemic. The CARES Act includes tax provisions that temporarily modified the taxable income limitations for NOL usage to offset future taxable income, NOL carryback provisions and other related income and non-income based tax laws. The Corporation has evaluated such provisions and determined that the impact of the CARES Act on the income tax provision and deferred tax assets as of March 31, 2020 was not significant.   For the first quarter of 2020, the Corporation recorded an income tax benefit of $3.0 million, compared to an income tax expense of $17.6 million for the same period in 2019. The variance was mostly attributable to an income tax benefit of approximately $20.0 million recorded in the first quarter of 2020 in connection with higher charges to the provision for credit losses for loans, finance leases and debt securities due to the effect of the COVID-19 pandemic on forecasted economic conditions.     For the quarter ended March 31, 2020, the Corporation calculated the provision for income taxes by applying the estimated annual effective tax rate for the full fiscal year to ordinary income or loss. In the computation of the consolidated worldwide annual estimated effective tax rate, ASC Topic 740-270, “Income Taxes” (“ASC 740-270”), requires the exclusion of legal entities with pre-tax losses from which a tax benefit cannot be recognized. The Corporation’s estimated annual effective tax rate in the first quarter of 2020, excluding entities from which a tax benefit cannot be recognized and discrete items, was 24% compared to 28% for the first quarter of 2019. The estimated annual effective tax rate including all entities for 2020 was 26% (25% excluding discrete items), compared to 29% for the first quarter of 2019 (26% excluding discrete items).   On January 1, 2020, the Corporation increased its deferred tax assets by $31.3 million in connection with the transitional adjustment resulting from the adoption of the CECL accounting standard. The Corporation’s net deferred tax asset amounted to $307.8 million as of March 31, 2020, net of a valuation allowance of $88.5 million, and management concluded, based upon the assessment of all positive and negative evidence, that it is more likely than not that the Corporation will generate sufficient taxable income within the applicable NOL carry-forward periods to realize such amount. Due to the inherent uncertainties related to the extent and duration of the COVID-19 pandemic, there is no evidence that can be objectively verified at this time to affect the Corporation’s assessment about the ability to realize its deferred tax assets. The net deferred tax asset of the Corporation’s banking subsidiary, FirstBank, amounted to $307.7 million as of March 31, 2020, net of a valuation allowance of $52.7 million, compared to a net deferred tax asset of $264.8 million, net of a valuation allowance of $55.6 million, as of December 31, 2019.   In 2017, the Corporation completed a formal ownership change analysis within the meaning of Section 382 of the U.S. Internal Revenue Code (“Section 382”) covering a comprehensive period, and concluded that an ownership change had occurred during such period. The Section 382 limitation has resulted in higher U.S. and USVI income tax liabilities than we would have incurred in the absence of such limitation. The Corporation has mitigated to an extent the adverse effects associated with the Section 382 limitation as any such tax paid in the U.S. or USVI can be creditable against Puerto Rico tax liabilities or taken as a deduction against taxable income. However, our ability to reduce our Puerto Rico tax liability through such a credit or deduction depends on our tax profile at each annual taxable period, which is dependent on various factors. For the first quarter of 2020, the Corporation incurred an income tax expense of approximately $1 million related to its U.S. operations, compared to $1.8 million for the same period in 2019. The limitation did not impact the USVI operations in the first quarter of 2020 and 2019.   As of March 31, 2020, the Corporation did not have UTBs recorded on its books. The Corporation classifies all interest and penalties, if any, related to tax uncertainties as income tax expense. Audit periods remain open for review until the statute of limitations has passed. The statute of limitations under the 2011 PR code is four years; the statute of limitations for U.S. and USVI income tax purposes is three years after a tax return is due or filed, whichever is later. The completion of an audit by the taxing authorities or the expiration of the statute of limitations for a given audit period could result in an adjustment to the Corporation’s liability for income taxes. Any such adjustment could be material to the results of operations for any given quarterly or annual period based, in part, upon the results of operations for the given period. For U.S. and USVI income tax purposes, all tax years subsequent to 2015 remain open to examination. For Puerto Rico tax purposes, all tax years subsequent to 2015 remain open to examination.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details Name: us-gaap_IncomeTaxDisclosureTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

v3.20.1

GOODWILL AND OTHER INTANGIBLES - Yearly Amortization Expense (Detail) $ in Thousands	Mar. 31, 2020 USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
2020	$ 2,138
2021	2,656
2022	915
2023	622
2024	457
2025 and after	$ 72

X

- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. + References No definition available. + Details Name: us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a)(3) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details Name: us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a)(3) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details Name: us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a)(3) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details Name: us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a)(3) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details Name: us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a)(3) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details Name: us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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v3.20.1

INVESTMENT SECURITIES	3 Months Ended
	Mar. 31, 2020
Debt and Equity Securities [Abstract]
INVESTMENT SECURITIES [Text Block]	NOTE 5 – INVESTMENT SECURITIES   Investment Securities Available for Sale   The amortized cost, gross unrealized gains and losses recorded in OCI, allowance for credit losses, estimated fair value, and weighted-average yield of investment securities available for sale by contractual maturities as of March 31, 2020 were as follows:     March 31, 2020     Amortized cost   Gross     Allowance   Fair value         Unrealized     for Credit     Weighted-       gains   losses     Losses     average yield % (Dollars in thousands)                                                                     U.S. Treasury securities:                                 Due within one year $ 7,483   $ 99   $ -   $ -   $ 7,582   1.65 U.S. government-sponsored                                 agencies' obligations:                                 Due within one year   90,002     510     -     -     90,512   1.56 After 1 to 5 years   118,454     1,488     -     -     119,942   2.04 After 5 to 10 years   112,477     978     12     -     113,443   2.06 After 10 years   23,306     2     64     -     23,244   0.65                                     Puerto Rico government                                 obligations:                                 After 5 to 10 years   4,000     361     -     -     4,361   5.12 After 10 years (1)   4,113     -     1,144     -     2,969   6.97                                     United States and Puerto                                 Rico government                                 obligations   359,835     3,438     1,220     -     362,053   1.92 MBS:                                 Freddie Mac ("FHLMC") certificates:                                   Due within one year   100     8     -     -     108   4.87 After 5 to 10 years   76,460     2,426     -     -     78,886   2.15 After 10 years   295,944     10,832     2     -     306,774   2.49       372,504     13,266     2     -     385,768   2.42                                     Ginnie Mae ("GNMA") certificates:                                 After 1 to 5 years   5,808     141     -     -     5,949   3.23 After 5 to 10 years   37,206     970     -     -     38,176   2.74 After 10 years   303,796     15,120     2     -     318,914   3.12       346,810     16,231     2     -     363,039   3.08 Fannie Mae ("FNMA") certificates:                                 After 1 to 5 years   19,773     750     -     -     20,523   2.79 After 5 to 10 years   133,479     5,218     -     -     138,697   2.14 After 10 years 540,107     23,238     -     -     563,345   2.61       693,359     29,206     -     -     722,565   2.52 Collateralized mortgage obligations issued                                 or guaranteed by the FHLMC, FNMA                                 and GNMA                                 After 1 to 5 years   606     -     3     -     603   1.66 After 10 years   86,706     1,290     646     -     87,350   2.50       87,312     1,290     649     -     87,953   2.49                                     Private label                                 After 10 years   15,357     -     4,689     368     10,300   3.45                                     Total MBS   1,515,342     59,993     5,342     368     1,569,625   2.63 Other                                 After 1 to 5 years   500     -     -     -     500   2.95                                     Total investment securities                                 available for sale $ 1,875,677   $ 63,431   $ 6,562   $ 368   $ 1,932,178   2.50 __________                                 Consist of a residential pass-through MBS issued by the PRHFA that is collateralized by certain second mortgages originated under a program launched by the Puerto Rico government in 2010.The amortized cost, gross unrealized gains and losses recorded in OCI, estimated fair value, and weighted-average yield of investment securities available for sale by contractual maturities as of December 31, 2019 were as follows:     December 31, 2019     Amortized cost   Gross   Fair value         Unrealized     Weighted-       gains   losses     average yield% (Dollars in thousands)                               U.S. Treasury securities:                             After 1 to 5 years $ 7,478   $ 1   $ -   $ 7,479   1.65 U.S. government-sponsored                           agencies' obligations:                             Due within one year   93,299     103     106     93,296   1.67   After 1 to 5 years   142,513     676     52     143,137   2.12   After 5 to 10 years   63,764     165     150     63,779   2.33   After 10 years   24,624     -     116     24,508   2.00                               Puerto Rico government                           obligations:                             After 5 to 10 years   4,000     348     -     4,348   5.12   After 10 years (1)   4,166     -     1,192     2,974   6.97                               United States and Puerto                           Rico government                           obligations   339,844     1,293     1,616     339,521   2.11                               MBS:                           FHLMC certificates:                             After 5 to 10 years   81,418     589     228     81,779   2.16   After 10 years   424,316     3,873     758     427,431   2.50       505,734     4,462     986     509,210   2.44                               GNMA certificates:                             After 1 to 5 years   4,357     45     -     4,402   3.26   After 5 to 10 years   42,303     607     -     42,910   2.77   After 10 years   258,944     7,126     500     265,570   3.03       305,604     7,778     500     312,882   3.00 FNMA certificates:                             After 1 to 5 years   19,779     415     3     20,191   2.79   After 5 to 10 years   140,599     1,257     641     141,215   2.14   After 10 years 700,213     9,006     1,208     708,011   2.58       860,591     10,678     1,852     869,417   2.51 Collateralized mortgage obligations issued                             or guaranteed by the FHLMC,                             FNMA and GNMA:                             After 1 to 5 years   608     -     1     607   2.43   After 10 years   80,130     362     220     80,272   2.76       80,738     362     221     80,879   2.75                               Private label                             After 10 years   15,997     -     4,881     11,116   3.90                               Total MBS   1,768,664     23,280     8,440     1,783,504   2.60                                                             Other                             After 1 to 5 years   500     -     -     500   2.95                                                             Total investment securities                             available for sale $ 2,109,008   $ 24,573   $ 10,056   $ 2,123,525   2.52                               Consist of a residential pass-through MBS issued by the PRHFA that is collateralized by certain second mortgages originated under a program launched by the Puerto Rico government in 2010. Maturities of MBS are based on the period of final contractual maturity. Expected maturities of investments might differ from contractual maturities because they may be subject to prepayments and/or call options. The weighted-average yield on investment securities available for sale is based on amortized cost and, therefore, does not give effect to changes in fair value. The net unrealized gain or loss on securities available for sale are presented as part of OCI.   The following tables show the Corporation’s available-for-sale investments’ fair value and gross unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, as of March 31, 2020 and December 31, 2019. The tables also include debt securities for which an ACL was recorded as of March 31, 2020 or a credit loss was charged against the amortized cost basis of the debt security prior to the adoption of ASC 326 on January 1, 2020.   As of March 31, 2020   Less than 12 months   12 months or more   Total       Unrealized       Unrealized       Unrealized   Fair Value   Losses   Fair Value   Losses   Fair Value   Losses (In thousands)     Debt securities:                                   Puerto Rico-government obligations $ -   $ -   $ 2,969   $ 1,144   $ 2,969   $ 1,144 U.S. Treasury and U.S. government                                   agenciesʼ obligations   3,213     1     22,280     75     25,493     76 MBS:                                   FHLMC   -     -     728     2     728     2 GNMA   -     -     609     2     609     2 Collateralized mortgage obligations                                   issued or guaranteed by                                   the FHLMC, FNMA and GNMA   40,571     649     -     -     40,571     649 Private label MBS   -     -     10,300     4,689     10,300     4,689   $ 43,784   $ 650   $ 36,886   $ 5,912   $ 80,670   $ 6,562                                                                           As of December 31, 2019   Less than 12 months   12 months or more   Total       Unrealized       Unrealized       Unrealized   Fair Value   Losses   Fair Value   Losses   Fair Value   Losses (In thousands)     Debt securities:                                   Puerto Rico-government obligations $ -   $ -   $ 2,974   $ 1,192   $ 2,974   $ 1,192 U.S. Treasury and U.S. government                                   agenciesʼ obligations   45,073     172     99,764     252     144,837     424 MBS:                                   FNMA   58,668     499     173,708     1,353     232,376     1,852 FHLMC   74,134     270     63,864     716     137,998     986 GNMA   79,145     472     7,203     28     86,348     500 Collateralized mortgage                                   obligations issued or guaranteed                                   by the FHLMC, FNMA and GNMA   21,873     221     -     -     21,873     221 Private label MBS   -     -     11,116     4,881     11,116     4,881   $ 278,893   $ 1,634   $ 358,629   $ 8,422   $ 637,522   $ 10,056                                       During the first quarter of 2020, the Corporation sold approximately $275.6 million of U.S. agencies MBS and recognized a gain of approximately $8.2 million. These sales have settlement dates in April, thus, as of March 31, 2020, the decrease in the investment securities portfolio was offset by a corresponding increase in accounts receivable on unsettled investment sales included as part of other assets in the consolidated statements of financial condition. Assessment for Credit Losses   Debt securities issued by U.S. government agencies, U.S. GSEs, and the U.S. Treasury, including notes and MBS, accounted for approximately 99% of the total available-for-sale portfolio as of March 31, 2020, and no credit losses are expected, given the explicit and implicit guarantees provided by the U.S. federal government. Because the decline in fair value is attributable to changes in interest rates, and not credit quality, and because the Corporation does not have the intent to sell these U.S. agencies debt securities and it is likely that it will not be required to sell the securities before their anticipated recovery, the Corporation does not consider impairments on these securities to be credit related as of March 31, 2020. The Corporation’s credit losses assessment was concentrated mainly on private label MBS, and on Puerto Rico government debt securities, for which credit losses are evaluated on a quarterly basis. The Corporation considered the following factors in determining whether a credit loss exists and the period over which the debt security is expected to recover:    Any adverse change to the credit conditions and liquidity of the issuer, taking into consideration the latest information available about the financial condition of the issuer, credit ratings, the failure of the issuer to make scheduled principal or interest payments, recent legislation and government actions affecting the issuer’s industry; and actions taken by the issuer to deal with the present economic climate;  Changes in the near-term prospects of the underlying collateral for a security, if any, such as changes in default rates, loss severity given default, and significant changes in prepayment assumptions; and  The level of cash flows generated from the underlying collateral, if any, supporting the principal and interest payments of the debt securities. The Corporation’s available-for-sale MBS portfolio includes private label MBS with a fair value of $10.3 million, which had unrealized losses of approximately $4.7 million at March 31, 2020. The interest rate on these private-label MBS is variable, tied to 3-month LIBOR and limited to the weighted-average coupon on the underlying collateral. The underlying collateral are fixed-rate, single-family residential mortgage loans in the United State with original FICO scores over 700 and moderate loan-to-value ratios (under 80%), as well as moderate delinquency levels. The Corporation does not have the intent to sell these securities and it is likely that it will not be required to sell the securities before anticipated recovery. The Corporation determine the ACL for private label MBS based on a risk-adjusted discounted cash flow methodology that considers the structure and terms of the instruments. The Corporation utilizes PDs and LGDs that consider, among other things, historical payment performance, loan-to value attributes and relevant current and forward-looking macroeconomic variables, such as regional unemployment rates and the housing price index. On this approach, all future cash flows (interest and principal) from the underlying collateral loans, adjusted by prepayments and the PDs and LGDs derived from the above-described methodology are discounted at the effective interest rate as of the reporting date. Significant assumptions in the valuation of the private label MBS were as follows:   As of   As of   March 31, 2020   December 31, 2019   Weighted   Range   Weighted   Range   Average   Minimum Maximum   Average   Minimum Maximum                     Discount rate 12.7%   12.7% 12.7%   13.7%   13.7% 13.7% Prepayment rate 7.9%   6.8% 10.3%   7.9%   6.8% 10.3% Projected Cumulative Loss Rate 8.9%   2.6% 20.7%   2.8%   0.0% 7.4% The Corporation evaluates if a credit loss exists, primarily by monitoring adverse variances in the present value of expected cash flows. During the first quarter of 2020, the Corporation established a $0.4 million ACL for these private label MBS, based on a decline in the present value of expected cash flows taking into consideration the effect of the deteriorating forecasted economic conditions due to the COVID-19 pandemic.   As of March 31, 2020, the Corporation’s available-for-sale investment securities portfolio also included bonds of the PRHFA with a fair value of $7.3 million, which had unrealized net losses of approximately $0.8 million. These bonds include a residential pass-through MBS issued by the PRHFA that is collateralized by certain second mortgages with a fair value of $3.0 million which had an unrealized loss of $1.1 million as of March 31, 2020. The underlying second mortgage loans were originated under a program launched by the Puerto Rico government in 2010. This residential pass-through MBS was structured as a zero-coupon bond for the first ten years (up to July 2019). The underlying source of payment of this residential pass-through MBS is second mortgage loans in Puerto Rico. PRHFA not the Puerto Rico government, provides a guarantee in the event of default and subsequent foreclosure of the second mortgage loans underlying properties. Based on the quarterly analysis performed, management concluded that the impairment on this residential pass-through MBS as of March 31, 2020 was not credit related based primarily on payment performance history and the insurance protection provided by the PRHFA to the underlying collateral. In the event that the second mortgage loans default and the collateral is insufficient to satisfy the outstanding balance of this residential pass-through MBS, PRHFA’s ability to honor its insurance will depend on, among other factors, the financial condition of PRHFA at the time such obligation become due and payable. A deterioration of the Puerto Rico economy or fiscal health of the PRHFA could further impact the value of these securities, resulting in losses to the Corporation. The Corporation does not have the intent to sell this security and it is likely that it will not be required to sell the security before its anticipated recovery.   The following table presents a rollforward by major security type for the quarter ended March 31, 2020 of the ACL on debt securities available-for-sale at period end:   Private label   MBS (In thousands)     Beginning Balance $ - Impact of adopting ASC 326   - Addition for securities for which previous expected credit losses were recognized (provision for credit losses)   368   $ 368 No credit losses on available-for-sale debt securities were recorded in the first quarter of 2019. Investments Held to Maturity   The amortized cost, gross unrecognized gains and losses, estimated fair value, allowance for credit losses, weighted-average yield and contractual maturities of investment securities held to maturity as of March 31, 2020 and December 31, 2019 were as follows:     March 31, 2020     Amortized cost       Fair value                 Gross Unrecognized     Allowance for Credit Losses                           Weighted - average yield % (Dollars in thousands)   gains   losses                                           Puerto Rico Municipal Bonds:                                   Due within one year $ 321   $ -   $ 3   $ 318   $ 99   5.65   After 1 to 5 years   8,122     -     675     7,447     78   4.99   After 5 to 10 years   56,511     -     8,118     48,393     2,999   5.42   After 10 years   73,580     -     18,576     55,004     6,092   5.25 Total investment securities                                   held to maturity $ 138,534   $ -   $ 27,372   $ 111,162   $ 9,268   5.31                                         December 31, 2019     Amortized cost         Fair value             Gross Unrecognized                             Weighted - average yield % (Dollars in thousands)     gains   losses                                     Puerto Rico Municipal Bonds:                               Due within one year $ 321     $ -   $ 6   $ 315   5.84   After 1 to 5 years   8,264       -     736     7,528   5.18   After 5 to 10 years   56,511       -     8,646     47,865   5.77   After 10 years   73,579       -     18,913     54,666   5.44 Total investment securities                               held to maturity $ 138,675     $ -   $ 28,301   $ 110,374   5.56                                 The following tables show the Corporation’s held-to-maturity investments’ fair value and gross unrecognized losses, aggregated by investment category and length of time that individual securities had been in a continuous unrecognized loss position, as of March 31, 2020 and December 31, 2019, including debt securities for which an ACL was recorded as of March 31, 2020.   As of March 31, 2020   Less than 12 months   12 months or more   Total       Unrecognized       Unrecognized       Unrecognized   Fair Value   Losses   Fair Value   Losses   Fair Value   Losses     (In thousands) Debt securities:                                   Puerto Rico Municipal Bonds $ -   $ -   $ 111,162   $ 27,372   $ 111,162   $ 27,372                                                                           As of December 31, 2019   Less than 12 months   12 months or more   Total       Unrecognized       Unrecognized       Unrecognized   Fair Value   Losses   Fair Value   Losses   Fair Value   Losses     (In thousands) Debt securities:                                   Puerto Rico Municipal Bonds $ -   $ -   $ 110,374   $ 28,301   $ 110,374   $ 28,301                                       The Corporation determines the ACL of Puerto Rico Municipal Bonds based on the product of a cumulative PD and LGD, and the amortized cost basis of the bonds over their remaining expected life as described in Note 1 – Basis of Presentation and Significant Accounting Policies above.   The Corporation performs periodic credit quality reviews on these issuers. All of the Puerto Rico Municipal Bonds were current as to scheduled contractual payments as of March 31, 2020. The Puerto Rico municipal bonds had an allowance for credit losses of $9.3 million as of March 31, 2020, of which $1.1 million was recorded as a provision for credit losses in the first quarter of 2020. The increase in the ACL during the first quarter of 2020 primarily reflects the effect of the deteriorating economic outlook due to the COVID-19 pandemic on the macroeconomic variables used for the determination of the PD and LGD used in the model. The following table presents the activity in the ACL for debt securities held-to-maturity by major security type for the quarter ended March 31, 2020:   Puerto Rico   Municipal Bonds (In thousands)     Beginning Balance $ - Impact of adopting ASC 326   8,134 Addition for securities for which no previous expected     credit losses were recognized (provision for credit losses)   1,134   $ 9,268 During the second quarter of 2019, the oversight board established by PROMESA announced the designation of Puerto Rico’s 78 municipalities as covered instrumentalities under PROMESA. Meanwhile, the latest fiscal plan certified by the PROMESA oversight board did not contemplate a restructuring of the debt of Puerto Rico’s municipalities, but the plan did call for the gradual elimination of budgetary subsidies provided to municipalities by the central government. Furthermore, municipalities are also likely to be affected by the negative economic and other effects resulting from expense, revenue or cash management measures taken by the Puerto Rico government to address its fiscal problems, or measures included in fiscal plans of other government entities, such as the fiscal plans of the Government Development Bank for Puerto Rico (“GDB”) and the Puerto Rico Electric Power Authority (“PREPA”), and, more recently, by the effect of the COVID-19 pandemic on the Puerto Rico and global economy. Given the uncertain effect that the negative fiscal situation of the Puerto Rico central government, the COVID-19 pandemic, and the measures taken, or to be taken, by other government entities in response to the COVID-19 pandemic may have on municipalities, the Corporation cannot be certain whether future charges to the ACL on these securities will be required.   From time to time, the Corporation has securities held to maturity with an original maturity of three months or less that are considered cash and cash equivalents and are classified as money market investments in the consolidated statements of financial condition. As of March 31, 2020 and December 31, 2019, the Corporation had no outstanding securities held to maturity that were classified as cash and cash equivalents. Credit Quality Indicators:   As mentioned in Note 1 – Basis of Presentation and Significant Accounting Policies above, the held-to-maturity investment securities portfolio consisted of financing arrangements with Puerto Rico municipalities issued in bond form, which are accounted for as securities, but are underwritten as loans with features that are typically found in commercial loans. Accordingly, the Corporation monitors the credit quality of Puerto Rico municipal bonds held-to-maturity through the use of internal credit-risk ratings, generally updated on a quarterly basis. The Corporation considers a debt security held-to-maturity as a criticized asset if its risk rating is Special Mention, Substandard, Doubtful or Loss. Puerto Rico municipal bonds that do not meet the criteria for classification as criticized assets are considered to be pass-rated securities. The assets categories are defined below:   Pass – Assets classified as pass have a well-defined primary source of repayment, with no apparent risk, strong financial position, minimal operating risk, profitability, liquidity and strong capitalization.   Special Mention – A Special Mention asset has potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the Corporation’s credit position at some future date. Special Mention assets are not adversely classified and do not expose the Corporation to sufficient risk to warrant adverse classification.   Substandard – A Substandard asset is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Assets so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.   Doubtful – Doubtful classifications have all of the weaknesses inherent in those classified Substandard with the added characteristic that the weaknesses make collection or liquidation in full highly questionable and improbable, on the basis of currently known facts, conditions and values. A Doubtful classification may be appropriate in cases where significant risk exposures are perceived, but loss cannot be determined because of specific reasonable pending factors, which may strengthen the credit in the near term.   Loss – Assets classified Loss are considered uncollectible and of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the asset has absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off this asset even though partial recovery may occur in the future. There is little or no prospect for near term improvement and no realistic strengthening action of significance pending.   The Corporation periodically reviews its asset classifications to evaluate if they are properly classified, and to determine impairment, if any. The frequency of these reviews will depend on the amount of the aggregate outstanding debt, and the risk rating classification of the obligor.     The Corporation has a Loan Review Group that reports directly to the Corporation’s Risk Management Committee and administratively to the Chief Risk Officer, which performs annual comprehensive credit process reviews of the Bank’s commercial loan portfolios, including the above-mentioned Puerto Rico municipal bonds accounted for as held-to-maturity securities. This group evaluates the credit risk profile of portfolios, including the assessment of the risk rating representative of the current credit quality of the assets, and the evaluation of collateral documentation, if applicable. The monitoring performed by this group contributes to the assessment of compliance with credit policies and underwriting standards, the determination of the current level of credit risk, the evaluation of the effectiveness of the credit management process and the identification of any deficiency that may arise in the credit-granting process. Based on its findings, the Loan Review Group recommends corrective actions, if necessary, that help in maintaining a sound credit process. The Loan Review Group reports the results of the credit process reviews to the Risk Management Committee of the Corporation’s Board of Directors.   The following table summarizes the amortized cost of debt securities held-to-maturity as of March 31, 2020 and December 31, 2019 aggregated by credit quality indicator:                   Held to Maturity     Puerto Rico Municipal Bonds     March 31,   December 31 (In thousands)   2020   2019 Risk Ratings:             Pass   $ 138,534   $ 138,675 Criticized:             Special Mention     -     - Substandard     -     - Doubtful     -     - Loss     -     - Total   $ 138,534   $ 138,675   No held-to-maturity debt securities were on nonaccrual status, 90 days past due and still accruing, or past due as of March 31, 2020 and December 31, 2019. A security is considered to be past due once it is 30 days contractually past due under the terms of the agreement.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 + Details Name: us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

v3.20.1

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Effect of Derivative Instruments on Statement of Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Derivative Instruments Gain Loss [Line Items]
Interest Income Loans	$ (147,126)	$ (147,625)
Mortgage banking activities	3,788	3,627
Not Designated as Hedging Instrument, Economic Hedge [Member]
Economic undesignated hedges:
Total gain (loss) on derivatives	(756)	108
Not Designated as Hedging Instrument, Economic Hedge [Member] | Sale of TBA GNMA MBS pools [Member] | Mortgage Banking [Member]
Economic undesignated hedges:
Total gain (loss) on derivatives	(665)	127
Not Designated as Hedging Instrument, Economic Hedge [Member] | Forward loan sales commitments [Member] | Mortgage Banking [Member]
Economic undesignated hedges:
Total gain (loss) on derivatives	0	5
Not Designated as Hedging Instrument, Economic Hedge [Member] | Interest Rate Lock Commitments [Member] | Mortgage Banking [Member]
Economic undesignated hedges:
Total gain (loss) on derivatives	(91)	(20)
Not Designated as Hedging Instrument, Economic Hedge [Member] | Interest Rate Cap [Member] | Interest Income [Member]
Economic undesignated hedges:
Total gain (loss) on derivatives	$ 0	$ (4)

X

- Definition Amount of increase (decrease) in the fair value of derivatives recognized in the income statement. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b)(1) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5618551-113959 + Details Name: us-gaap_DerivativeGainLossOnDerivativeNet Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details Name: us-gaap_DerivativeInstrumentsGainLossLineItems Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

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- Definition Income from mortgage banking activities (fees and commissions) and servicing real estate mortgages, credit cards, and other financial assets held by others net of any related impairment of capitalized service costs. Also includes any premiums received in lieu of regular servicing fees on such loans only as earned over the life of the loans. + References No definition available. + Details Name: us-gaap_FeesAndCommissionsMortgageBankingAndServicing Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition The aggregate interest and fee income generated by: (1) loans the Entity has positive intent and ability to hold for the foreseeable future, or until maturity or payoff, including commercial and consumer loans, whether domestic or foreign, which may consist of: (a) industrial and agricultural; (b) real estate; and (c) real estate construction loans; (d) trade financing; (e) lease financing; (f) home equity lines-of-credit; (g) automobile and other vehicle loans; and (h) credit card and other revolving-type loans and (2) loans and leases held-for-sale which may include mortgage loans, direct financing, and sales-type leases. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.1) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 + Details Name: us-gaap_InterestAndFeeIncomeLoansAndLeases Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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v3.20.1

LEASES - Maturities Under Lease Liability (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Leases [Abstract]
2019	$ 7,712
2020	9,622
2021	8,612
2022	7,007
2023	6,422
2024 and after	35,434
Total lease payments	74,809
Less: imputed interest	(12,300)
Operating lease liability	$ 62,509	$ 64,259

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- Definition Amount of lessee's undiscounted obligation for lease payments for operating lease. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details Name: us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition Amount of lessee's undiscounted obligation for lease payments for operating lease, due after fifth fiscal year following latest fiscal year. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details Name: us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition Amount of lessee's undiscounted obligation for lease payments for operating lease, due in fifth fiscal year following latest fiscal year. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details Name: us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition Amount of lessee's undiscounted obligation for lease payments for operating lease, due in fourth fiscal year following latest fiscal year. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details Name: us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition Amount of lessee's undiscounted obligation for lease payments for operating lease, due in third fiscal year following latest fiscal year. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details Name: us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition Amount of lessee's undiscounted obligation for lease payments for operating lease, due in second fiscal year following latest fiscal year. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details Name: us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition Amount of lessee's undiscounted obligation for lease payments for operating lease having an initial or remaining lease term in excess of one year due in remainder of fiscal year following latest fiscal year. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details Name: us-gaap_LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition Amount of lessee's undiscounted obligation for lease payments in excess of discounted obligation for lease payments for operating lease. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details Name: us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition Present value of lessee's discounted obligation for lease payments from operating lease. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 45 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=77888419&loc=SL77918627-209977 + Details Name: us-gaap_OperatingLeaseLiability Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

v3.20.1

LOANS HELD FOR SALE	3 Months Ended
	Mar. 31, 2020
Receivables Held For Sale [Abstract]
LOANS HELD FOR SALE [Text Block]	NOTE 9 – LOANS HELD FOR SALE   The Corporation’s loans held-for-sale portfolio as of the dates indicated was composed of:           March 31, 2020   December 31, 2019               (In thousands)   Residential mortgage loans $ 12,046   $ 39,477

X

- Definition This element may be used as a single block of text to encapsulate the entire disclosure about loans that will be sold to other entities. + References No definition available. + Details Name: fbp_LoansHeldForSaleTextBlock Namespace Prefix: fbp_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

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- References No definition available. + Details Name: us-gaap_ReceivablesHeldForSaleAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

v3.20.1

OFFSETTING OF ASSETS AND LIABILITIES	3 Months Ended
	Mar. 31, 2020
Offsetting [Abstract]
OFFSETTING OF ASSETS AND LIABILITIES [Text Block]	NOTE 13 – OFFSETTING OF ASSETS AND LIABILITIES   The Corporation enters into master agreements with counterparties, primarily related to derivatives and repurchase agreements, that may allow for netting of exposures in the event of default. In an event of default, each party has a right of set-off against the other party for amounts owed under the related agreement and any other amount or obligation owed with respect to any other agreement or transaction between them. The following tables present information about contracts subject to offsetting provision related to financial assets and liabilities as well as derivative assets and liabilities, as of the indicated dates:                                     Offsetting of Financial Assets and Derivative Assets                                       As of March 31, 2020                                                       Gross Amounts Not Offset in the Statement of Financial Condition                     Net Amounts of Assets Presented in the Statement of Financial Condition                     Gross Amounts of Recognized Assets   Gross Amounts Offset in the Statement of Financial Condition                         Financial Instruments   Cash Collateral                 Net Amount (In thousands)                                   Description                                         Derivatives $ 9   $ -   $ 9   $ -   $ (9)   $ -                                     As of December 31, 2019                                                       Gross Amounts Not Offset in the Statement of Financial Condition                     Net Amounts of Assets Presented in the Statement of Financial Condition                     Gross Amounts of Recognized Assets   Gross Amounts Offset in the Statement of Financial Condition                         Financial Instruments   Cash Collateral                 Net Amount (In thousands)                                   Description                                         Derivatives $ 11   $ -   $ 11   $ -   $ (11)   $ - Securities purchased under agreements to resell   200,000     (200,000)     -     -     -     - Total $ 200,011   $ (200,000)   $ 11   $ -   $ (11)   $ -                                                                                                             Offsetting of Financial Liabilities and Derivative Liabilities                                       As of March 31, 2020                                                                                           Gross Amounts Not Offset in the Statement of Financial Condition                     Net Amounts of Liabilities Presented in the Statement of Financial Condition                     Gross Amounts of Recognized Liabilities   Gross Amounts Offset in the Statement of Financial Condition                         Financial Instruments   Cash Collateral     (In thousands)           Net Amount                                     Description     Securities sold under agreements to repurchase $ 300,000   $ -   $ 300,000   $ (300,000)   $ -   $ -                                                                         As of December 31, 2019                                                       Gross Amounts Not Offset in the Statement of Financial Condition                     Net Amounts of Liabilities Presented in the Statement of Financial Condition                     Gross Amounts of Recognized Liabilities   Gross Amounts Offset in the Statement of Financial Condition                         Financial Instruments   Cash Collateral                 Net Amount (In thousands)                                   Description     Securities sold under agreements to repurchase $ 300,000   $ (200,000)   $ 100,000   $ (100,000)   $ -   $ -

X

- References No definition available. + Details Name: us-gaap_OffsettingAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -URI http://asc.fasb.org/topic&trid=2122208 + Details Name: us-gaap_SupplementalBalanceSheetDisclosuresTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

v3.20.1

DEPOSITS - Summary of Deposit Balances (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Deposits [Abstract]
Non-interest bearing checking accounts	$ 2,404,932	$ 2,367,856
Savings accounts	2,584,201	2,437,345
Interest-bearing checking accounts	1,424,261	1,412,390
Certificates of deposit	2,696,967	2,695,749
Brokered certificates of deposit	451,952	435,089
Total deposits	$ 9,562,313	$ 9,348,429

X

- Definition The aggregate of all deposit liabilities held by the entity, including foreign and domestic, interest and noninterest bearing; may include demand deposits, saving deposits, Negotiable Order of Withdrawal (NOW) and time deposits among others. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.12) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details Name: us-gaap_Deposits Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- References No definition available. + Details Name: us-gaap_DepositsAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

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- Definition Amount of interest bearing deposits with no stated maturity, which may include passbook and statement savings accounts and money-market deposit accounts (MMDAs). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.12) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details Name: us-gaap_DepositsSavingsDeposits Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition Amount of interest-bearing domestic third-party deposits placed by or through the assistance of a deposit broker, also known as brokered deposit liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.12) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details Name: us-gaap_InterestBearingDomesticDepositBrokered Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition Amount of interest-bearing domestic certificate of deposit liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.12) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details Name: us-gaap_InterestBearingDomesticDepositCertificatesOfDeposits Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition Amount of interest-bearing domestic checking deposit liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.12) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details Name: us-gaap_InterestBearingDomesticDepositChecking Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition The aggregate amount of all domestic and foreign noninterest-bearing deposits liabilities held by the entity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.12) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details Name: us-gaap_NoninterestBearingDepositLiabilities Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

v3.20.1

NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS - Key Economic Assumptions Used in Determining Fair Value at Time of Sale of Loans (Detail)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Conventional Loan [Member]
Assumption For Fair Value On Securitization Date Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities [Line Items]
Constant prepayment rate	6.90%	6.70%
Discount rate	10.00%	10.00%
Conventional Non Conforming Mortgage Loans [Member]
Assumption For Fair Value On Securitization Date Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities [Line Items]
Constant prepayment rate	8.70%	9.30%
Discount rate	14.30%	14.30%
Government guaranteed mortgage loans [Member]
Assumption For Fair Value On Securitization Date Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities [Line Items]
Constant prepayment rate	6.20%
Discount rate	12.00%	12.00%

X

- Definition Discount rate which is used to value residual cash flows generated by financial assets of the securitization, asset-backed financing arrangement, or similar transfer for initial fair value measurement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=118948506&loc=d3e107207-111719 + Details Name: us-gaap_AssumptionForFairValueOnSecuritizationDateOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesDiscountRate Namespace Prefix: us-gaap_ Data Type: num:percentItemType Balance Type: na Period Type: duration

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v3.20.1

DEPOSITS	3 Months Ended
	Mar. 31, 2020
Deposits [Abstract]
DEPOSITS [Text Block]	NOTE 16 – DEPOSITS The following table summarizes deposit balances as of the dates indicated:   March 31,     December 31,   2020   2019 (In thousands)           Type of account:           Non-interest-bearing checking accounts $ 2,404,932   $ 2,367,856 Interest-bearing savings accounts   2,584,201     2,437,345 Interest-bearing checking accounts   1,424,261     1,412,390 Certificates of deposit   2,696,967     2,695,749 Brokered certificates of deposit (CDs)   451,952     435,089 Total $ 9,562,313   $ 9,348,429   Brokered CDs mature as follows:                 March 31, 2020   (In thousands)               Three months or less   $ 88,696   Over three months to six months     87,276   Over six months to one year     114,110   Over one year to three years     126,651   Over three years to five years     29,268   Over five years     5,951   Total   $ 451,952 The following were the components of interest expense on deposits for the indicated periods:               Quarter Ended   March 31,     March 31,   2020     2019 (In thousands)   Interest expense on deposits $ 19,497   $ 17,305 Accretion of premium from acquisition   (1)     (2) Amortization of broker placement fees   158     189 Interest expense on deposits $ 19,654   $ 17,492

X

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v3.20.1

STOCKHOLDERS' EQUITY	3 Months Ended
	Mar. 31, 2020
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY [Text Block]	NOTE 21 – STOCKHOLDERS’ EQUITY   Common Stock   As of March 31, 2020 and December 31, 2019, the Corporation had 2,000,000,000 authorized shares of common stock with a par value of $0.10 per share. As of March 31, 2020 and December 31, 2019, there were 222,955,394 and 222,103,721 shares issued, respectively, and 218,160,725 and 217,359,337 shares outstanding, respectively. Refer to Note 4 – Stock-Based Compensation, to the consolidated financial statements, for information about transactions related to common stock under the Omnibus Plan.   On February 6, 2020, the Corporation announced that its Board of Directors declared a quarterly cash dividend of $0.05 per common share that was paid on March 13, 2020 to shareholders of record at the close business on February 28, 2020. For the quarters ended March 31, 2020 and 2019, total cash dividends declared on shares of common stock amounted to $10.9 million and $6.5 million, respectively. The Corporation intends to continue to pay quarterly dividends on common stock.   Preferred Stock   The Corporation has 50,000,000 authorized shares of preferred stock with a par value of $1.00, redeemable at the Corporation’s option, subject to certain terms. This stock may be issued in series and the shares of each series have such rights and preferences as are fixed by the Board of Directors when authorizing the issuance of that particular series. As of March 31, 2020, the Corporation has five outstanding series of non-convertible, non-cumulative preferred stock: 7.125% non-cumulative perpetual monthly income preferred stock, Series A; 8.35% non-cumulative perpetual monthly income preferred stock, Series B; 7.40% non-cumulative perpetual monthly income preferred stock, Series C; 7.25% non-cumulative perpetual monthly income preferred stock, Series D; and 7.00% non-cumulative perpetual monthly income preferred stock, Series E. The liquidation value per share is $25.   Effective January 17, 2012, the Corporation delisted all of its outstanding series of non-convertible, non-cumulative preferred stock from the New York Stock Exchange. The Corporation has not arranged for listing and/or registration on another national securities exchange or for quotation of the Series A through E preferred stock in a quotation medium. The Corporation has continued to pay monthly dividend payments on the non-cumulative perpetual monthly income preferred stock. For each of the quarters ended March 31, 2020 and 2019, total cash dividends declared on shares of preferred stock amounted to $0.7 million. The Corporation intends to continue to make monthly dividend payments on the non-cumulative perpetual to make monthly income preferred stock. Treasury stock   During the first quarter of 2020 and 2019, the Corporation withheld an aggregate of 50,285 shares and 168,679 shares, respectively, of the restricted stock that vested during those quarters, to cover the officers’ payroll and income tax withholding liabilities; these shares are held as treasury stock. As of March 31, 2020 and December 31, 2019, the Corporation had 4,794,669 and 4,744,384 shares held as treasury stock, respectively.   FirstBank Statutory Reserve (Legal Surplus)   The Banking Law of the Commonwealth of Puerto Rico requires that a minimum of 10% of FirstBank’s net income for the year be transferred to a legal surplus reserve until such surplus equals the total of paid-in-capital on common and preferred stock. Amounts transferred to the legal surplus reserve from retained earnings are not available for distribution to the Corporation, including for payment as dividends to the stockholders, without the prior consent of the Puerto Rico Commissioner of Financial Institutions. The Puerto Rico Banking Law provides that, when the expenditures of a Puerto Rico commercial bank are greater than receipts, the excess of the expenditures over receipts must be charged against the undistributed profits of the bank, and the balance, if any, must be charged against the legal surplus reserve, as a reduction thereof. If there is no legal surplus reserve sufficient to cover such balance in whole or in part, the outstanding amount must be charged against the capital account and the Bank cannot pay dividends until it can replenish the legal surplus reserve to an amount of at least 20% of the original capital contributed. FirstBank’s legal surplus reserve, included as part of retained earnings in the Corporation’s consolidated statements of financial condition, amounted to $97.6 million as of March 31, 2020 and December 31, 2019. There were no transfers to the legal surplus reserve during the quarter ended March 31, 2020.

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v3.20.1

LOANS HELD FOR INVESTMENT - Loan Modifications Considered Troubled Debt Restructurings Defaulted (Detail) - Entity Loan Modification Program [Member]	3 Months Ended
	Mar. 31, 2020 USD ($) numberofcontracts	Mar. 31, 2019 USD ($) numberofcontracts
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	53	38
Recorded Investment | $	$ 2,234,000	$ 298,000
Residential Portfolio Segment [Member] | Conventional Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	6	0
Recorded Investment | $	$ 1,889,000	$ 0
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	1	0
Recorded Investment | $	$ 35,000	$ 0
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	0	0
Recorded Investment | $	$ 0	$ 0
Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	0	0
Recorded Investment | $	$ 0	$ 0
Consumer Portfolio Segment [Member] | Other Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	29	18
Recorded Investment | $	$ 108,000	$ 47,000
Consumer Portfolio Segment [Member] | Auto loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	10	20
Recorded Investment | $	$ 176,000	$ 251,000
Consumer Portfolio Segment [Member] | Finance Leases [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	1	0
Recorded Investment | $	$ 5,000	$ 0
Consumer Portfolio Segment [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	1	0
Recorded Investment | $	$ 7,000	$ 0
Consumer Portfolio Segment [Member] | Credit cards [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	5	0
Recorded Investment | $	$ 14,000	$ 0
Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	53	38
Recorded Investment | $	$ 2,234,000	$ 298,000
Puerto Rico and Virgin Islands regions [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	6	0
Recorded Investment | $	$ 1,889,000	$ 0
Puerto Rico and Virgin Islands regions [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	1	0
Recorded Investment | $	$ 35,000	$ 0
Puerto Rico and Virgin Islands regions [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	0	0
Recorded Investment | $	$ 0	$ 0
Puerto Rico and Virgin Islands regions [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	0	0
Recorded Investment | $	$ 0	$ 0
Puerto Rico and Virgin Islands regions [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	29	18
Recorded Investment | $	$ 108,000	$ 47,000
Puerto Rico and Virgin Islands regions [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	10	20
Recorded Investment | $	$ 176,000	$ 251,000
Puerto Rico and Virgin Islands regions [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	1	0
Recorded Investment | $	$ 5,000	$ 0
Puerto Rico and Virgin Islands regions [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	1	0
Recorded Investment | $	$ 7,000	$ 0
Puerto Rico and Virgin Islands regions [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	5	0
Recorded Investment | $	$ 14,000	$ 0
Florida region
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	0	0
Recorded Investment | $	$ 0	$ 0
Florida region | Residential Portfolio Segment [Member] | Conventional Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	0	0
Recorded Investment | $	$ 0	$ 0
Florida region | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	0	0
Recorded Investment | $	$ 0	$ 0
Florida region | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	0	0
Recorded Investment | $	$ 0	$ 0
Florida region | Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	0	0
Recorded Investment | $	$ 0	$ 0
Florida region | Consumer Portfolio Segment [Member] | Other Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	0	0
Recorded Investment | $	$ 0	$ 0
Florida region | Consumer Portfolio Segment [Member] | Auto loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	0	0
Recorded Investment | $	$ 0	$ 0
Florida region | Consumer Portfolio Segment [Member] | Finance Leases [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	0	0
Recorded Investment | $	$ 0	$ 0
Florida region | Consumer Portfolio Segment [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	0	0
Recorded Investment | $	$ 0	$ 0
Florida region | Consumer Portfolio Segment [Member] | Credit cards [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | numberofcontracts	0	0
Recorded Investment | $	$ 0	$ 0

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v3.20.1

ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LEASES - Activity in ACL for unfunded loan commitments and standby letters of credit (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Jan. 01, 2020	Jan. 01, 2019
Financing Receivable Allowance For Credit Losses [Line Items]
Beginning Balance	$ 0	$ 412
Provision (release) for credit losses	1,819	(412)
Ending balance	$ 5,741	$ 0
ASC 326 | Cumulative Effect Period Of Adoption Adjustment [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Impact of adopting ASC 326 on unfunded loan commitments and standby letters of credit			$ 3,922	$ 0

X

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v3.20.1

OTHER REAL ESTATE OWNED- Additional information (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Real Estate Properties [Line Items]
Foreclosures that meet the conditions of ASC Topic 310-40	$ 494,178	$ 213,513
Other Real Estate Owned [Member]
Real Estate Properties [Line Items]
Foreclosures that meet the conditions of ASC Topic 310-40	$ 19,100	$ 16,700

X

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v3.20.1

LOANS HELD FOR INVESTMENT - Collateral Deoendent Loans Individually Evaluated (Detail) - Collateral Pledged [Member] $ in Thousands	Mar. 31, 2020 USD ($)
Loans and Leases Receivable Disclosure [Line Items]
Loans individually evaluated with a specific allowance amortized cost	$ 171,351
Loans individually evaluated related allowance	24,554
Loans individually evaluated with no related specific allowance amortized cost	120,505
Total loans individually evaluated amortized cost	291,856
Residential Portfolio Segment [Member] | Loans Insured or Guaranteed by US Government Authorities [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans individually evaluated with a specific allowance amortized cost	0
Loans individually evaluated related allowance	0
Loans individually evaluated with no related specific allowance amortized cost	0
Total loans individually evaluated amortized cost	0
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans individually evaluated with a specific allowance amortized cost	135,559
Loans individually evaluated related allowance	13,778
Loans individually evaluated with no related specific allowance amortized cost	46,477
Total loans individually evaluated amortized cost	182,036
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans individually evaluated with a specific allowance amortized cost	12,763
Loans individually evaluated related allowance	5,653
Loans individually evaluated with no related specific allowance amortized cost	17,588
Total loans individually evaluated amortized cost	30,351
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans individually evaluated with a specific allowance amortized cost	21,990
Loans individually evaluated related allowance	5,053
Loans individually evaluated with no related specific allowance amortized cost	47,019
Total loans individually evaluated amortized cost	69,009
Commercial Portfolio Segment [Member] | Construction Loans [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans individually evaluated with a specific allowance amortized cost	0
Loans individually evaluated related allowance	0
Loans individually evaluated with no related specific allowance amortized cost	9,358
Total loans individually evaluated amortized cost	9,358
Consumer Portfolio Segment [Member] | Auto loans [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans individually evaluated with a specific allowance amortized cost	0
Loans individually evaluated related allowance	0
Loans individually evaluated with no related specific allowance amortized cost	0
Total loans individually evaluated amortized cost	0
Consumer Portfolio Segment [Member] | Finance Leases [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans individually evaluated with a specific allowance amortized cost	0
Loans individually evaluated related allowance	0
Loans individually evaluated with no related specific allowance amortized cost	0
Total loans individually evaluated amortized cost	0
Consumer Portfolio Segment [Member] | Personal Loans [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans individually evaluated with a specific allowance amortized cost	146
Loans individually evaluated related allowance	2
Loans individually evaluated with no related specific allowance amortized cost	0
Total loans individually evaluated amortized cost	146
Consumer Portfolio Segment [Member] | Credit cards [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans individually evaluated with a specific allowance amortized cost	0
Loans individually evaluated related allowance	0
Loans individually evaluated with no related specific allowance amortized cost	0
Total loans individually evaluated amortized cost	0
Consumer Portfolio Segment [Member] | Other Loans [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans individually evaluated with a specific allowance amortized cost	893
Loans individually evaluated related allowance	68
Loans individually evaluated with no related specific allowance amortized cost	63
Total loans individually evaluated amortized cost	956
Puerto Rico and Virgin Islands regions [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans individually evaluated with a specific allowance amortized cost	162,892
Loans individually evaluated related allowance	23,463
Loans individually evaluated with no related specific allowance amortized cost	114,331
Total loans individually evaluated amortized cost	277,223
Puerto Rico and Virgin Islands regions [Member] | Residential Portfolio Segment [Member] | Loans Insured or Guaranteed by US Government Authorities [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans individually evaluated with a specific allowance amortized cost	0
Loans individually evaluated related allowance	0
Loans individually evaluated with no related specific allowance amortized cost	0
Total loans individually evaluated amortized cost	0
Puerto Rico and Virgin Islands regions [Member] | Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans individually evaluated with a specific allowance amortized cost	127,100
Loans individually evaluated related allowance	12,687
Loans individually evaluated with no related specific allowance amortized cost	45,770
Total loans individually evaluated amortized cost	172,870
Puerto Rico and Virgin Islands regions [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans individually evaluated with a specific allowance amortized cost	12,763
Loans individually evaluated related allowance	5,653
Loans individually evaluated with no related specific allowance amortized cost	17,296
Total loans individually evaluated amortized cost	30,059
Puerto Rico and Virgin Islands regions [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans individually evaluated with a specific allowance amortized cost	21,990
Loans individually evaluated related allowance	5,053
Loans individually evaluated with no related specific allowance amortized cost	41,844
Total loans individually evaluated amortized cost	63,834
Puerto Rico and Virgin Islands regions [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans individually evaluated with a specific allowance amortized cost	0
Loans individually evaluated related allowance	0
Loans individually evaluated with no related specific allowance amortized cost	9,358
Total loans individually evaluated amortized cost	9,358
Puerto Rico and Virgin Islands regions [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans individually evaluated with a specific allowance amortized cost	0
Loans individually evaluated related allowance	0
Loans individually evaluated with no related specific allowance amortized cost	0
Total loans individually evaluated amortized cost	0
Puerto Rico and Virgin Islands regions [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans individually evaluated with a specific allowance amortized cost	0
Loans individually evaluated related allowance	0
Loans individually evaluated with no related specific allowance amortized cost	0
Total loans individually evaluated amortized cost	0
Puerto Rico and Virgin Islands regions [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans individually evaluated with a specific allowance amortized cost	146
Loans individually evaluated related allowance	2
Loans individually evaluated with no related specific allowance amortized cost	0
Total loans individually evaluated amortized cost	146
Puerto Rico and Virgin Islands regions [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans individually evaluated with a specific allowance amortized cost	0
Loans individually evaluated related allowance	0
Loans individually evaluated with no related specific allowance amortized cost	0
Total loans individually evaluated amortized cost	0
Puerto Rico and Virgin Islands regions [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans individually evaluated with a specific allowance amortized cost	893
Loans individually evaluated related allowance	68
Loans individually evaluated with no related specific allowance amortized cost	63
Total loans individually evaluated amortized cost	956
Florida region
Loans and Leases Receivable Disclosure [Line Items]
Loans individually evaluated with a specific allowance amortized cost	8,459
Loans individually evaluated related allowance	1,091
Loans individually evaluated with no related specific allowance amortized cost	6,174
Total loans individually evaluated amortized cost	14,633
Florida region | Residential Portfolio Segment [Member] | Loans Insured or Guaranteed by US Government Authorities [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans individually evaluated with a specific allowance amortized cost	0
Loans individually evaluated related allowance	0
Loans individually evaluated with no related specific allowance amortized cost	0
Total loans individually evaluated amortized cost	0
Florida region | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans individually evaluated with a specific allowance amortized cost	0
Loans individually evaluated related allowance	0
Loans individually evaluated with no related specific allowance amortized cost	292
Total loans individually evaluated amortized cost	292
Florida region | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans individually evaluated with a specific allowance amortized cost	0
Loans individually evaluated related allowance	0
Loans individually evaluated with no related specific allowance amortized cost	5,175
Total loans individually evaluated amortized cost	5,175
Florida region | Commercial Portfolio Segment [Member] | Construction Loans [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans individually evaluated with a specific allowance amortized cost	0
Loans individually evaluated related allowance	0
Loans individually evaluated with no related specific allowance amortized cost	0
Total loans individually evaluated amortized cost	0
Florida region | Consumer Portfolio Segment [Member] | Auto loans [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans individually evaluated with a specific allowance amortized cost	0
Loans individually evaluated related allowance	0
Loans individually evaluated with no related specific allowance amortized cost	0
Total loans individually evaluated amortized cost	0
Florida region | Consumer Portfolio Segment [Member] | Finance Leases [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans individually evaluated with a specific allowance amortized cost	0
Loans individually evaluated related allowance	0
Loans individually evaluated with no related specific allowance amortized cost	0
Total loans individually evaluated amortized cost	0
Florida region | Consumer Portfolio Segment [Member] | Personal Loans [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans individually evaluated with a specific allowance amortized cost	0
Loans individually evaluated related allowance	0
Loans individually evaluated with no related specific allowance amortized cost	0
Total loans individually evaluated amortized cost	0
Florida region | Consumer Portfolio Segment [Member] | Credit cards [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans individually evaluated with a specific allowance amortized cost	0
Loans individually evaluated related allowance	0
Loans individually evaluated with no related specific allowance amortized cost	0
Total loans individually evaluated amortized cost	0
Florida region | Consumer Portfolio Segment [Member] | Other Loans [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans individually evaluated with a specific allowance amortized cost	0
Loans individually evaluated related allowance	0
Loans individually evaluated with no related specific allowance amortized cost	0
Total loans individually evaluated amortized cost	$ 0

X

- Definition Amount of investment of impaired financing receivables with related allowance for credit losses and without a related allowance for credit losses. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 14A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953550-111524 + Details Name: us-gaap_ImpairedFinancingReceivableRecordedInvestment Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of allowance for credit losses related to recorded investment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (a)(3) -URI http://asc.fasb.org/extlink&oid=118936363&loc=d3e5212-111524 + Details Name: us-gaap_ImpairedFinancingReceivableRelatedAllowance Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Amount of investment in impaired financing receivables for which there is no related allowance for credit losses. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 14A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953550-111524 + Details Name: us-gaap_ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of investment in impaired financing receivables for which there is a related allowance for credit losses. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 14A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953550-111524 + Details Name: us-gaap_ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details Name: us-gaap_LoansAndLeasesReceivableDisclosureLineItems Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

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- Details Name: us-gaap_EquitySecuritiesByIndustryAxis=us-gaap_CommercialAndIndustrialSectorMember Namespace Prefix: Data Type: na Balance Type: Period Type:

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- Details Name: us-gaap_FinancingReceivablePortfolioSegmentAxis=us-gaap_ConsumerPortfolioSegmentMember Namespace Prefix: Data Type: na Balance Type: Period Type:

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- Details Name: us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=us-gaap_AutomobileLoanMember Namespace Prefix: Data Type: na Balance Type: Period Type:

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- Details Name: us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=fbp_FinanceLeasesMember Namespace Prefix: Data Type: na Balance Type: Period Type:

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- Details Name: us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=us-gaap_CreditCardReceivablesMember Namespace Prefix: Data Type: na Balance Type: Period Type:

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- Details Name: srt_StatementGeographicalAxis=fbp_PrandviMember Namespace Prefix: Data Type: na Balance Type: Period Type:

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- Details Name: srt_StatementGeographicalAxis=stpr_FL Namespace Prefix: Data Type: na Balance Type: Period Type:

v3.20.1

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Risk and Uncertainties Related to COVID19 (Detail) $ in Thousands		3 Months Ended
	May 07, 2020 USD ($) numberofcontracts	Mar. 31, 2020 USD ($) numberofcontracts	Mar. 31, 2019 USD ($)	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase (decrease) in ACL		$ 137,700
Provision for credit losses		77,366	$ 11,408
Net charge-offs		17,600
Loans and Leases Receivable, Gross		9,000
Available unused lines at the FHLB	$ 383,700	$ 529,400
FED Discount Window funds availability	973,200
Excess Cash And Liquid Securities Total Assets Ratio		17.50%		15.80%
COVID-19
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase (decrease) in ACL		$ 59,800
COVID-19 | Small Business Administration
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
SBA PPP number of applications | numberofcontracts		3,792
SBA loans approved	350,600
SBA loans funded	$ 313,200
COVID-19 | Payment Deferral [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Loan Deferral Program Description		In working with borrowers affected by the COVID-19 pandemic, the Corporation implemented payment deferral programs to alleviate the hardships being experienced by the Corporation’s borrowers. The payment deferral programs, which the Corporation implemented in March 2020, provided deferred repayment arrangements across-the-board up to June 30, 2019 to consumer borrowers (i.e., residential mortgage, personal loans, auto loans, finance leases, small loans, and credit cards) who qualify for the program based, among other things, on the delinquency status of the loan on March 16, 2019, and who did not make their payment corresponding to the month of March, with the possibility of extension up to August 31, 2020, if needed. For commercial loans, any request for payment deferral is analyzed on a case by case basis.
COVID-19 | Residential Portfolio Segment [Member] | Payment Deferral [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred repayment arrangements | numberofcontracts	7,064
Loans and Leases Receivable, Gross	$ 931,500
COVID-19 | Commercial Portfolio Segment [Member] | Accomodation, Retail Real Estate And Transportation Industries [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of Loan Expsoure to Industries		28.00%
COVID-19 | Commercial Portfolio Segment [Member] | Payment Deferral [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred repayment arrangements | numberofcontracts	741
Loans and Leases Receivable, Gross	$ 1,800,000
COVID-19 | Consumer Portfolio Segment [Member] | Payment Deferral [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred repayment arrangements | numberofcontracts	93,629
Loans and Leases Receivable, Gross	$ 1,000,000

X

- Definition Percentage represents the excess of cash and liquid securities total asset ratio. + References No definition available. + Details Name: fbp_ExcessCashAndLiquidSecuritiesTotalAssetsRatio Namespace Prefix: fbp_ Data Type: num:percentItemType Balance Type: na Period Type: instant

X

- Definition Amount of advances or credit lines available from the Federal Reserve Bank. + References No definition available. + Details Name: fbp_FederalReserveBankAmountOfAvailableUnusedFunds Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Payment defferal program implemented to aliviate the hardships being experienced by the Corporation's borrowers. + References No definition available. + Details Name: fbp_FinancingReceivableDeferralPaymentNumberOfAgreements Namespace Prefix: fbp_ Data Type: xbrli:integerItemType Balance Type: na Period Type: duration

X

- Definition Financing Receivable Small Business Administration Paycheck Protection Program Number Of Contracts + References No definition available. + Details Name: fbp_FinancingReceivableSmallBusinessAdministrationPaycheckProtectionProgramNumberOfContracts Namespace Prefix: fbp_ Data Type: xbrli:integerItemType Balance Type: na Period Type: duration

X

- Definition Description of the loan deferral program established by the Corporation. + References No definition available. + Details Name: fbp_LoanDeferralProgramDescription Namespace Prefix: fbp_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

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- Definition Amount of SBA loans approved. + References No definition available. + Details Name: fbp_LoansAndLeasesReceivableGrossCarryingAmountOfSBALoansApproved Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of SBA loans funded. + References No definition available. + Details Name: fbp_LoansAndLeasesReceivableGrossCarryingAmountOfSBALoansFunded Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Percentage represents the total exposure of the Banks commercial and construction loans to specific industries. + References No definition available. + Details Name: fbp_PercentageOfLoanExpsoureToIndustries Namespace Prefix: fbp_ Data Type: num:percentItemType Balance Type: na Period Type: duration

X

- Definition Amount of advances or credit lines available from the Federal Home Loan Bank (FHLB). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22 (b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.13(3)(a)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6479118&loc=d3e64650-112822 + Details Name: us-gaap_FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresAmountOfAvailableUnusedFunds Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition Amount, after recovery, of writeoff of financing receivable, charged against allowance for credit loss. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 79 -URI http://asc.fasb.org/extlink&oid=118955255&loc=SL82922352-210448 + Details Name: us-gaap_FinancingReceivableAllowanceForCreditLossWriteoffAfterRecovery Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition Amount of increase (decrease) in allowance for credit loss on financing receivable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953423-111524 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 + Details Name: us-gaap_FinancingReceivableAllowanceForCreditLossesPeriodIncreaseDecrease Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: na Period Type: duration

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- Definition Amount before allowance of loans and leases held in portfolio, including but not limited to, commercial and consumer loans. Includes deferred interest and fees, undisbursed portion of loan balance, unamortized costs and premiums and discounts from face amounts. Excludes loans and leases covered under loss sharing agreements. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=118952595&loc=d3e4428-111522 + Details Name: us-gaap_LoansAndLeasesReceivableGrossCarryingAmount Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details Name: us-gaap_NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

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- Definition Amount of expense related loan transactions, lease transactions, credit loss from transactions other than loan and lease transactions, and other loss based on assessment of uncollectability from the counterparty to reduce the account to their net realizable value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953423-111524 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.11) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 + Details Name: us-gaap_ProvisionForLoanLeaseAndOtherLosses Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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v3.20.1

EARNINGS PER COMMON SHARE - Calculations of Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Net Income (Loss):
Net income	$ 2,266	$ 43,314
Preferred stock dividends	(669)	(669)
Net income attributable to common stockholders	$ 1,597	$ 42,645
Weighted-Average Shares:
Average common shares outstanding	216,785	216,338
Average potential dilutive common shares	529	612
Average common shares outstanding - assuming dilution	217,314	216,950
Income (loss) per common share:
Basic	$ 0.01	$ 0.20
Diluted	$ 0.01	$ 0.20

X

- Definition Amount of paid and unpaid preferred stock dividends declared with the form of settlement in cash. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 405 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957935&loc=d3e64057-112817 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 + Details Name: us-gaap_DividendsPreferredStockCash Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1A -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669619-108580 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(22)) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1B -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669625-108580 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(18)) -URI http://asc.fasb.org/extlink&oid=116637232&loc=SL114874131-224263 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(20)) -URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details Name: us-gaap_NetIncomeLoss Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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v3.20.1

LOANS HELD FOR INVESTMENT - Breakdown Between Accrual and Nonaccrual Status of TDRs (Detail) - Entity Loan Modification Program [Member] - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable Modifications Recorded Investment Accrual Status	$ 401,603	$ 398,257
Financing Receivable Modifications Recorded Investment Nonaccrual Status	95,692	89,740
Financing Receivable, Troubled Debt Restructuring	497,295	487,997	$ 589,795	$ 582,647
Residential Portfolio Segment [Member] | Conventional Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable Modifications Recorded Investment Accrual Status	256,497	265,746
Financing Receivable Modifications Recorded Investment Nonaccrual Status	54,866	50,903
Financing Receivable, Troubled Debt Restructuring	311,363	316,649
Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable Modifications Recorded Investment Accrual Status	3,200	3,238
Financing Receivable Modifications Recorded Investment Nonaccrual Status	1,075	1,083
Financing Receivable, Troubled Debt Restructuring	4,275	4,321
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable Modifications Recorded Investment Accrual Status	50,672	51,062
Financing Receivable Modifications Recorded Investment Nonaccrual Status	23,660	23,917
Financing Receivable, Troubled Debt Restructuring	74,332	74,979
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable Modifications Recorded Investment Accrual Status	73,531	59,689
Financing Receivable Modifications Recorded Investment Nonaccrual Status	9,188	7,160
Financing Receivable, Troubled Debt Restructuring	82,719	66,849
Consumer Portfolio Segment [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring	24,600
Consumer Portfolio Segment [Member] | Auto loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable Modifications Recorded Investment Accrual Status	8,021	8,556
Financing Receivable Modifications Recorded Investment Nonaccrual Status	6,165	5,984
Financing Receivable, Troubled Debt Restructuring	14,186	14,540
Consumer Portfolio Segment [Member] | Finance Leases [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable Modifications Recorded Investment Accrual Status	1,544	1,502
Financing Receivable Modifications Recorded Investment Nonaccrual Status	7	30
Financing Receivable, Troubled Debt Restructuring	1,551	1,532
Consumer Portfolio Segment [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable Modifications Recorded Investment Accrual Status	1,052	1,052
Financing Receivable Modifications Recorded Investment Nonaccrual Status	22	21
Financing Receivable, Troubled Debt Restructuring	1,074	1,073
Consumer Portfolio Segment [Member] | Other Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable Modifications Recorded Investment Accrual Status	4,332	4,621
Financing Receivable Modifications Recorded Investment Nonaccrual Status	709	642
Financing Receivable, Troubled Debt Restructuring	5,041	5,263
Consumer Portfolio Segment [Member] | Credit cards [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable Modifications Recorded Investment Accrual Status	2,754	2,791
Financing Receivable Modifications Recorded Investment Nonaccrual Status	0	0
Financing Receivable, Troubled Debt Restructuring	2,754	2,791
Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable Modifications Recorded Investment Accrual Status	391,950	388,388
Financing Receivable Modifications Recorded Investment Nonaccrual Status	95,303	89,388
Financing Receivable, Troubled Debt Restructuring	487,253	477,776
Puerto Rico and Virgin Islands regions [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable Modifications Recorded Investment Accrual Status	253,077	262,244
Financing Receivable Modifications Recorded Investment Nonaccrual Status	54,806	50,903
Financing Receivable, Troubled Debt Restructuring	307,883	313,147
Puerto Rico and Virgin Islands regions [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable Modifications Recorded Investment Accrual Status	3,200	3,238
Financing Receivable Modifications Recorded Investment Nonaccrual Status	1,075	1,083
Financing Receivable, Troubled Debt Restructuring	4,275	4,321
Puerto Rico and Virgin Islands regions [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable Modifications Recorded Investment Accrual Status	45,193	45,534
Financing Receivable Modifications Recorded Investment Nonaccrual Status	23,660	23,917
Financing Receivable, Troubled Debt Restructuring	68,853	69,451
Puerto Rico and Virgin Islands regions [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable Modifications Recorded Investment Accrual Status	73,531	59,689
Financing Receivable Modifications Recorded Investment Nonaccrual Status	8,896	6,845
Financing Receivable, Troubled Debt Restructuring	82,427	66,534
Puerto Rico and Virgin Islands regions [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable Modifications Recorded Investment Accrual Status	7,928	8,440
Financing Receivable Modifications Recorded Investment Nonaccrual Status	6,165	5,984
Financing Receivable, Troubled Debt Restructuring	14,093	14,424
Puerto Rico and Virgin Islands regions [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable Modifications Recorded Investment Accrual Status	1,544	1,502
Financing Receivable Modifications Recorded Investment Nonaccrual Status	7	30
Financing Receivable, Troubled Debt Restructuring	1,551	1,532
Puerto Rico and Virgin Islands regions [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable Modifications Recorded Investment Accrual Status	1,052	1,052
Financing Receivable Modifications Recorded Investment Nonaccrual Status	22	21
Financing Receivable, Troubled Debt Restructuring	1,074	1,073
Puerto Rico and Virgin Islands regions [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable Modifications Recorded Investment Accrual Status	3,671	3,898
Financing Receivable Modifications Recorded Investment Nonaccrual Status	672	605
Financing Receivable, Troubled Debt Restructuring	4,343	4,503
Puerto Rico and Virgin Islands regions [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable Modifications Recorded Investment Accrual Status	2,754	2,791
Financing Receivable Modifications Recorded Investment Nonaccrual Status	0	0
Financing Receivable, Troubled Debt Restructuring	2,754	2,791
Florida region
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable Modifications Recorded Investment Accrual Status	9,653	9,869
Financing Receivable Modifications Recorded Investment Nonaccrual Status	389	352
Financing Receivable, Troubled Debt Restructuring	10,042	10,221
Florida region | Residential Portfolio Segment [Member] | Conventional Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable Modifications Recorded Investment Accrual Status	3,420	3,502
Financing Receivable Modifications Recorded Investment Nonaccrual Status	60	0
Financing Receivable, Troubled Debt Restructuring	3,480	3,502
Florida region | Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable Modifications Recorded Investment Accrual Status	0	0
Financing Receivable Modifications Recorded Investment Nonaccrual Status	0	0
Financing Receivable, Troubled Debt Restructuring	0	0
Florida region | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable Modifications Recorded Investment Accrual Status	5,479	5,528
Financing Receivable Modifications Recorded Investment Nonaccrual Status	0	0
Financing Receivable, Troubled Debt Restructuring	5,479	5,528
Florida region | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable Modifications Recorded Investment Accrual Status	0	0
Financing Receivable Modifications Recorded Investment Nonaccrual Status	292	315
Financing Receivable, Troubled Debt Restructuring	292	315
Florida region | Consumer Portfolio Segment [Member] | Auto loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable Modifications Recorded Investment Accrual Status	93	116
Financing Receivable Modifications Recorded Investment Nonaccrual Status	0	0
Financing Receivable, Troubled Debt Restructuring	93	116
Florida region | Consumer Portfolio Segment [Member] | Finance Leases [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable Modifications Recorded Investment Accrual Status	0	0
Financing Receivable Modifications Recorded Investment Nonaccrual Status	0	0
Financing Receivable, Troubled Debt Restructuring	0	0
Florida region | Consumer Portfolio Segment [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable Modifications Recorded Investment Accrual Status	0	0
Financing Receivable Modifications Recorded Investment Nonaccrual Status	0	0
Financing Receivable, Troubled Debt Restructuring	0	0
Florida region | Consumer Portfolio Segment [Member] | Other Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable Modifications Recorded Investment Accrual Status	661	723
Financing Receivable Modifications Recorded Investment Nonaccrual Status	37	37
Financing Receivable, Troubled Debt Restructuring	698	760
Florida region | Consumer Portfolio Segment [Member] | Credit cards [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable Modifications Recorded Investment Accrual Status	0	0
Financing Receivable Modifications Recorded Investment Nonaccrual Status	0	0
Financing Receivable, Troubled Debt Restructuring	$ 0	$ 0

X

- Definition The amount of the outstanding recorded investment related to financing receivables that have been modified by troubled debt restructurings and are on accrual status as of the balance sheet date. + References No definition available. + Details Name: fbp_Financingreceivablemodificationsrecordedinvestmentaccrualstatus Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition The amount of the outstanding recorded investment related to financing receivables that have been modified by troubled debt restructurings and are on nonaccrual status as of the balance sheet date. + References No definition available. + Details Name: fbp_Financingreceivablemodificationsrecordedinvestmentnonaccrualstatus Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details Name: us-gaap_FinancingReceivableModificationsLineItems Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

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- Definition Amount of financing receivable modified as troubled debt restructuring. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953676-111524 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 40 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=118939409&loc=d3e18845-111554 + Details Name: us-gaap_FinancingReceivableModificationsRecordedInvestment Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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v3.20.1

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	3 Months Ended
	Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Notional Amounts of All Derivative Instruments [Table Text Block]	The following table summarizes the notional amounts of all derivative instruments as of indicated dates:               Notional Amounts (1)   As of   As of   March 31,   December 31, (In thousands) 2020   2019 Undesignated economic hedges:               Interest rate contracts:           Written interest rate cap agreements $ 21,010   $ 21,010 Purchased interest rate cap agreements   21,010     21,010 Interest rate lock commitments   34,599     11,456 Forward Contracts:           Sale of TBA GNMA MBS pools   25,500     35,000 Forward loan sales commitments   5,023     6,418   $ 107,142   $ 94,894
Summary of Fair Value of Derivative Instruments and Location in Statement of Financial Condition [Table Text Block]	The following table summarizes for derivative instruments their fair values and location in the consolidated statements of financial condition as of the indicated dates:                                   Asset Derivatives   Liability Derivatives   Statement of   March 31,   December 31,       March 31,   December 31,   Financial   2020   2019       2020   2019   Condition Location   Fair Value   Fair Value   Statement of Financial Condition Location   Fair Value   Fair Value (In thousands)                                   Undesignated economic hedges:                                                               Interest rate contracts:                               Written interest rate cap agreements Other assets   $ -   $ -   Accounts payable and other liabilities   $ 9   $ 11 Purchased interest rate cap agreements Other assets     9     11   Accounts payable and other liabilities     -     - Interest rate lock commitments Other assets     303     341   Accounts payable and other liabilities     -     -                                 Forward Contracts:                               Sales of TBA GNMA MBS pools Other assets     -     -   Accounts payable and other liabilities     803     138 Forward loan sales commitments Other assets     20     20   Accounts payable and other liabilities     -     -       $ 332   $ 372       $ 812   $ 149
Effect of Derivative Instruments on Statement of Income (Loss) [Table Text Block]	The following table summarizes the effect of derivative instruments on the consolidated statements of income for the indicated periods:       Gain (or Loss)   Location of Unrealized Gain (Loss)     Quarter Ended   on Derivative Recognized in   March 31,   Statements of Income   2020   2019         (In thousands) Undesignated economic hedges:               Interest rate contracts:               Written and purchased interest rate cap agreements Interest income - Loans   $ -   $ (4) Interest rate lock commitments Mortgage Banking Activities     (91)     (20) Forward contracts:               Sales of TBA GNMA MBS pools Mortgage Banking Activities     (665)     127 Forward loan sales commitments Mortgage Banking Activities     -     5 Total (loss) gain on derivatives     $ (756)   $ 108

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 + Details Name: us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959 + Details Name: us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

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- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579245-113959 + Details Name: us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

v3.20.1

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Change in Accumulated Other Comprehensive Loss by Component (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 6,764
Ending balance	49,116
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | Debt Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	6,764	$ (40,415)
Other comprehensive income (loss)	42,352	20,510
Ending balance	$ 49,116	$ (19,905)

X

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- Definition Amount after tax, before reclassification adjustments of other comprehensive income (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669686-108580 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 55 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=118951672&loc=d3e1436-108581 + Details Name: us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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v3.20.1

ALLOWANCE FOR LOAN AND LEASE LOSSES (Tables)	3 Months Ended
	Mar. 31, 2020
Loans And Leases Receivable Disclosure [Abstract]
Allowance For Credit Losses On Financing Receivables [Table Text Block]	The following table presents the activity in the ACL on loans and finance leases by portfolio segment for the quarters ended March 31, 2020 and 2019:                                     Quarter ended March 31, 2020 Residential Mortgage Loans   Construction Loans   Commercial Mortgage Loans   Commercial & Industrial Loans   Consumer Loans   Total (In thousands)                                                 Allowance for credit losses:                                   Beginning balance, prior to adoption of ASC 326 $ 44,806   $ 2,370   $ 39,194   $ 15,198   $ 53,571   $ 155,139 Impact of adopting ASC 326   49,837     797     (19,306)     14,731     35,106     81,165 Provision for credit losses   16,218     2,062     14,167     8,391     33,207     74,045 Charge-offs   (4,435)     (3)     (128)     (125)     (15,504)     (20,195) Recoveries   656     27     44     115     1,778     2,620 Ending balance $ 107,082   $ 5,253   $ 33,971   $ 38,310   $ 108,158   $ 292,774 Quarter ended March 31, 2019 Residential Mortgage Loans   Construction Loans   Commercial Mortgage Loans   Commercial & Industrial Loans   Consumer Loans   Total (In thousands)                                                 Allowance for credit losses:                                   Beginning balance $ 50,794   $ 3,592   $ 55,581   $ 32,546   $ 53,849   $ 196,362 Provision (release) for credit losses   6,639     (95)     121     (5,009)     10,164     11,820 Charge-offs   (6,173)     (207)     (2,400)     (6,311)     (13,269)     (28,360) Recoveries   626     41     128     1,095     2,020     3,910 Ending balance $ 51,886   $ 3,331   $ 53,430   $ 22,321   $ 52,764   $ 183,732 The tables below present the allowance for credit losses on loans and finance leases and the carrying value of loans by portfolio segment as of March 31, 2020 and December 31, 2019:                                 As of March 31, 2020 Residential Mortgage Loans         Commercial Mortgage Loans   Commercial and Industrial Loans     Consumer Loans           Construction Loans               (Dollars in thousands)             Total                                         Total loans held for investment:                                       Amortized cost of loans $ 2,875,672   $ 159,675   $ 1,454,753   $ 2,236,218     $ 2,312,629   $ 9,038,947   Allowance for credit losses   107,082     5,253     33,971     38,310       108,158     292,774   Allowance for credit losses to                                       amortized cost   3.72 %   3.29 %   2.34 %   1.71 %     4.68 %   3.24 % As of December 31, 2019 Residential Mortgage Loans       Commercial Mortgage Loans   Commercial and Industrial Loans   Consumer Loans           Construction Loans           (Dollars in thousands)         Total Total loans held for investment:                                   Amortized cost of loans $ 2,933,773   $ 111,317 $ 1,444,586   $ 2,230,876   $ 2,281,653   $ 9,002,205   Allowance for credit losses   44,806     2,370   39,194     15,198     53,571     155,139   Allowance for credit losses to                                   amortized cost   1.53 %   2.13   2.71 %   0.68 %   2.35 %   1.72 %                                     The following table presents the activity in the ACL for unfunded loan commitments and standby letters of credit for the quarters ended March 31, 2020 and 2019:   Quarter ended   March 31, 2020   March 31, 2019 (In thousands)           Beginning Balance $ -   $ 412 Impact of adopting ASC 326   3,922     - Provision (release) for credit losses   1,819     (412) Ending balance $ 5,741   $ -

X

- Definition Tabular disclosure of allowance for credit loss on financing receivable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953423-111524 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 + Details Name: us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

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v3.20.1

EARNINGS PER COMMON SHARE (Tables)	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Schedule of Earning Per Share [Table Text Block]	The calculation of earnings per common share for the quarters ended March 31, 2020 and 2019 are as follows:                     Quarter Ended       March 31,   March 31,       2020   2019   (In thousands, except per share information)     Net income $ 2,266   $ 43,314   Less: Preferred stock dividends   (669)     (669)   Net income attributable to common stockholders $ 1,597   $ 42,645                   Weighted-Average Shares:               Average common shares outstanding   216,785     216,338     Average potential dilutive common shares   529     612     Average common shares outstanding-assuming dilution   217,314     216,950                   Earnings per common share:               Basic $ 0.01   $ 0.20     Diluted $ 0.01   $ 0.20

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details Name: us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

v3.20.1

FAIR VLUE - Assets and Liabilites Measured at Fair Value on Recurring Basis Using Unobservable Inputs (Level 3) (Detail) $ in Thousands	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Debt Securities, Available-for-sale, Sale [Abstract]
Debt Securities, Available-for-sale	$ 1,932,178	$ 2,123,525
Puerto Rico Government obligations [Member]
Debt Securities, Available-for-sale, Sale [Abstract]
Debt Securities, Available-for-sale	7,300
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Private label [Member] | Discounted Cash Flow [Member]
Debt Securities, Available-for-sale, Sale [Abstract]
Debt Securities, Available-for-sale	10,300	11,116
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Puerto Rico Government obligations [Member] | Discounted Cash Flow [Member]
Debt Securities, Available-for-sale, Sale [Abstract]
Debt Securities, Available-for-sale	$ 2,969	$ 2,974
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Minimum [Member] | Private label [Member] | Discount rate [Member]
Debt Securities, Available-for-sale, Sale [Abstract]
Debt Securities, Available-for-sale, Measurement Input	0.1269	0.137
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Minimum [Member] | Private label [Member] | Prepayment rate [Member]
Debt Securities, Available-for-sale, Sale [Abstract]
Debt Securities, Available-for-sale, Measurement Input	0.068	0.068
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Minimum [Member] | Private label [Member] | Projected Cumulative Loss Rate [Member]
Debt Securities, Available-for-sale, Sale [Abstract]
Debt Securities, Available-for-sale, Measurement Input	0.026	0.000
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Minimum [Member] | Puerto Rico Government obligations [Member] | Discount rate [Member]
Debt Securities, Available-for-sale, Sale [Abstract]
Debt Securities, Available-for-sale, Measurement Input	0.0814	0.069
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Minimum [Member] | Puerto Rico Government obligations [Member] | Prepayment rate [Member]
Debt Securities, Available-for-sale, Sale [Abstract]
Debt Securities, Available-for-sale, Measurement Input	0.030	0.030
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Maximum [Member] | Private label [Member] | Discount rate [Member]
Debt Securities, Available-for-sale, Sale [Abstract]
Debt Securities, Available-for-sale, Measurement Input	0.1269	0.137
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Maximum [Member] | Private label [Member] | Prepayment rate [Member]
Debt Securities, Available-for-sale, Sale [Abstract]
Debt Securities, Available-for-sale, Measurement Input	0.103	0.103
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Maximum [Member] | Private label [Member] | Projected Cumulative Loss Rate [Member]
Debt Securities, Available-for-sale, Sale [Abstract]
Debt Securities, Available-for-sale, Measurement Input	0.207	0.074
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Maximum [Member] | Puerto Rico Government obligations [Member] | Discount rate [Member]
Debt Securities, Available-for-sale, Sale [Abstract]
Debt Securities, Available-for-sale, Measurement Input	0.0814	0.069
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Maximum [Member] | Puerto Rico Government obligations [Member] | Prepayment rate [Member]
Debt Securities, Available-for-sale, Sale [Abstract]
Debt Securities, Available-for-sale, Measurement Input	0.030	0.030
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Weighted Average [Member] | Private label [Member] | Discount rate [Member]
Debt Securities, Available-for-sale, Sale [Abstract]
Debt Securities, Available-for-sale, Measurement Input	0.1269	0.137
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Weighted Average [Member] | Private label [Member] | Prepayment rate [Member]
Debt Securities, Available-for-sale, Sale [Abstract]
Debt Securities, Available-for-sale, Measurement Input	0.079	0.079
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Weighted Average [Member] | Private label [Member] | Projected Cumulative Loss Rate [Member]
Debt Securities, Available-for-sale, Sale [Abstract]
Debt Securities, Available-for-sale, Measurement Input	0.089	0.028
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Weighted Average [Member] | Puerto Rico Government obligations [Member] | Discount rate [Member]
Debt Securities, Available-for-sale, Sale [Abstract]
Debt Securities, Available-for-sale, Measurement Input	0.0814	0.069
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Weighted Average [Member] | Puerto Rico Government obligations [Member] | Prepayment rate [Member]
Debt Securities, Available-for-sale, Sale [Abstract]
Debt Securities, Available-for-sale, Measurement Input	0.030	0.030

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v3.20.1

OTHER BORROWINGS	3 Months Ended
	Mar. 31, 2020
Subordinated Borrowings [Abstract]
OTHER BORROWINGS [Text Block]	NOTE 20 – OTHER BORROWINGS   Other borrowings, as of the indicated dates, consisted of:   March 31,   December 31,   2020   2019   (In thousands) Floating rate junior subordinated debentures (FBP Statutory Trust I) (1) $ 65,593   $ 65,593 Floating rate junior subordinated debentures (FBP Statutory Trust II) (2)   118,557     118,557   $ 184,150   $ 184,150 Amount represents junior subordinated interest-bearing debentures due in 2034 with a floating interest rate of 2.75% over 3-month LIBOR (3.59% as of March 31, 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 (3.62% as of March 31, 2020 and 4.41% as of December 31, 2019).

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- References No definition available. + Details Name: us-gaap_SubordinatedBorrowingsAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

X

- Definition The entire disclosure for borrowings under subordinated debt agreements that qualify as available in computing net capital under SEC's uniform net capital rule, including restrictive covenants, collateral, interest rates and due dates, amounts due by date and amount owed in total. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6479118&loc=d3e64650-112822 + Details Name: us-gaap_SubordinatedBorrowingsDisclosureTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

v3.20.1

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	3 Months Ended
	Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES [Text Block]	NOTE 12 – DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES   One of the market risks facing the Corporation is interest rate risk, which includes the risk that changes in interest rates will result in changes in the value of the Corporation’s assets or liabilities and will adversely affect the Corporation’s net interest income from its loan and investment portfolios. The overall objective of the Corporation’s interest rate risk management activities is to reduce the variability of earnings caused by changes in interest rates.   The Corporation designates a derivative as a fair value hedge, cash flow hedge or economic undesignated hedge when it enters into the derivative contract. As of March 31, 2020 and December 31, 2019, all derivatives held by the Corporation were considered economic undesignated hedges. The Corporation records these undesignated hedges at fair value with the resulting gain or loss recognized in current earnings.   The following summarizes the principal derivative activities used by the Corporation in managing interest rate risk:   Interest rate cap agreements - Interest rate cap agreements provide the right to receive cash if a reference interest rate rises above a contractual rate. The value of the interest rate cap increases as the reference interest rate rises. The Corporation enters into interest rate cap agreements for protection from rising interest rates.   Forward Contracts - Forward contracts are primarily sales of to-be-announced (“TBA”) MBS that will settle over the standard delivery date and do not qualify as “regular way” security trades. Regular-way security trades are contracts that have no net settlement provision and no market mechanism to facilitate net settlement and that provide for delivery of a security within the time frame generally established by regulations or conventions in the market place or exchange in which the transaction is being executed. The forward sales are considered derivative instruments that need to be marked to market. The Corporation uses these securities to economically hedge the FHA/VA residential mortgage loan securitizations of the mortgage-banking operations. The Corporation also reports as forward contracts the mandatory mortgage loan sales commitments that it enters into with GSEs that require or permit net settlement via a pair-off transaction or the payment of a pair-off fee. Unrealized gains (losses) are recognized as part of Mortgage banking activities in the consolidated statements of income.   Interest Rate Lock Commitments - Interest rate lock commitments are agreements under which the Corporation agrees to extend credit to a borrower under certain specified terms and conditions in which the interest rate and the maximum amount of the loan are set prior to funding. Under the agreement, the Corporation commits to lend funds to a potential borrower, generally on a fixed rate basis, regardless of whether interest rates change in the market.   To satisfy the needs of its customers, the Corporation may enter into non-hedging transactions. In these transactions, the Corporation generally participates as a buyer in one of the agreements and as a seller in the other agreement under the same terms and conditions.   In addition, the Corporation enters into certain contracts with embedded derivatives that do not require separate accounting as these are clearly and closely related to the economic characteristics of the host contract. When the embedded derivative possesses economic characteristics that are not clearly and closely related to the economic characteristics of the host contract, it is bifurcated, carried at fair value, and designated as a trading or non-hedging derivative instrument. The following table summarizes the notional amounts of all derivative instruments as of indicated dates:               Notional Amounts (1)   As of   As of   March 31,   December 31, (In thousands) 2020   2019 Undesignated economic hedges:               Interest rate contracts:           Written interest rate cap agreements $ 21,010   $ 21,010 Purchased interest rate cap agreements   21,010     21,010 Interest rate lock commitments   34,599     11,456 Forward Contracts:           Sale of TBA GNMA MBS pools   25,500     35,000 Forward loan sales commitments   5,023     6,418   $ 107,142   $ 94,894             Notional amounts are presented on a gross basis with no netting of offsetting exposure positions. The following table summarizes for derivative instruments their fair values and location in the consolidated statements of financial condition as of the indicated dates:                                   Asset Derivatives   Liability Derivatives   Statement of   March 31,   December 31,       March 31,   December 31,   Financial   2020   2019       2020   2019   Condition Location   Fair Value   Fair Value   Statement of Financial Condition Location   Fair Value   Fair Value (In thousands)                                   Undesignated economic hedges:                                                               Interest rate contracts:                               Written interest rate cap agreements Other assets   $ -   $ -   Accounts payable and other liabilities   $ 9   $ 11 Purchased interest rate cap agreements Other assets     9     11   Accounts payable and other liabilities     -     - Interest rate lock commitments Other assets     303     341   Accounts payable and other liabilities     -     -                                 Forward Contracts:                               Sales of TBA GNMA MBS pools Other assets     -     -   Accounts payable and other liabilities     803     138 Forward loan sales commitments Other assets     20     20   Accounts payable and other liabilities     -     -       $ 332   $ 372       $ 812   $ 149 The following table summarizes the effect of derivative instruments on the consolidated statements of income for the indicated periods:       Gain (or Loss)   Location of Unrealized Gain (Loss)     Quarter Ended   on Derivative Recognized in   March 31,   Statements of Income   2020   2019         (In thousands) Undesignated economic hedges:               Interest rate contracts:               Written and purchased interest rate cap agreements Interest income - Loans   $ -   $ (4) Interest rate lock commitments Mortgage Banking Activities     (91)     (20) Forward contracts:               Sales of TBA GNMA MBS pools Mortgage Banking Activities     (665)     127 Forward loan sales commitments Mortgage Banking Activities     -     5 Total (loss) gain on derivatives     $ (756)   $ 108 Derivative instruments are subject to market risk. As is the case with investment securities, the market value of derivative instruments is largely a function of the financial market’s expectations regarding the future direction of interest rates. Accordingly, current market values are not necessarily indicative of the future impact of derivative instruments on earnings. This will depend, for the most part, on the shape of the yield curve, and the level of interest rates, as well as the expectations for rates in the future.   As of March 31, 2020, the Corporation had not entered into any derivative instrument containing credit-risk-related contingent features.

X

- References No definition available. + Details Name: us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

X

- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI http://asc.fasb.org/topic&trid=2229140 + Details Name: us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

v3.20.1

LOANS PAYABLE - Federal Reserve Advances (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Short Term Debt [Line Items]
FHLB lendable value	$ 758,000
Federal Reserve Bank Advances [Member]
Short Term Debt [Line Items]
Loans payable	$ 60,000	$ 0
Interest rate %	0.25%
Loans Pledged as Collateral	$ 1,200

X

- Definition Amount of Federal Home Loan Bank (FHLBank) advances to member financial institutions. + References No definition available. + Details Name: us-gaap_FederalHomeLoanBankAdvances Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Carrying amount as of the balance sheet date of loans that have been pledged as collateral for borrowings. If the secured party has the right by contract or custom to sell or re-pledge the collateral, then the debtor reclassifies that asset and report that asset in its statement of financial position separately from other assets not so encumbered. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 30 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66007379&loc=d3e113888-111728 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=118936363&loc=d3e5086-111524 + Details Name: us-gaap_LoansPledgedAsCollateral Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Reflects the total carrying amount as of the balance sheet date of debt having initial terms less than one year or the normal operating cycle, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(19)(a)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(16)(a)(1)) -URI http://asc.fasb.org/extlink&oid=119400593&loc=d3e572229-122910 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(13)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details Name: us-gaap_ShortTermBorrowings Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details Name: us-gaap_ShortTermDebtLineItems Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

X

- Definition Weighted average interest rate of short-term debt outstanding calculated at point in time. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details Name: us-gaap_ShortTermDebtWeightedAverageInterestRate Namespace Prefix: us-gaap_ Data Type: num:percentItemType Balance Type: na Period Type: instant

X

- Details Name: us-gaap_ShortTermDebtTypeAxis=us-gaap_FederalReserveBankAdvancesMember Namespace Prefix: Data Type: na Balance Type: Period Type:

v3.20.1

NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS - Components of Net Servicing Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Transfers and Servicing [Abstract]
Servicing fees	$ 2,134	$ 2,060
Late charges and prepayment penalties	150	154
Other	(35)	(35)
Other	0	(15)
Servicing income, gross	2,249	2,164
Amortization and impairment of servicing assets	(1,147)	(830)
Servicing income, net	$ 1,102	$ 1,334

X

- Definition Amount of revenues from servicing real estate mortgages, credit cards, and other financial assets held by others. + References No definition available. + Details Name: fbp_ServicingfeesIncome Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

X

- Definition The periodic amortization (in proportion to and over the period of estimated net servicing income or loss) of capitalized servicing rights, which contractually entitle the servicer to receive fees and ancillary revenues for performing billing, collection, disbursement and recordkeeping services in connection with a mortgage portfolio. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 4 -Subparagraph (a)(4) -URI http://asc.fasb.org/extlink&oid=116651436&loc=d3e122739-111746 + Details Name: us-gaap_AmortizationOfMortgageServicingRightsMSRs Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

X

- Definition All amounts that are due to the servicer of a financial asset, excluding contractually specified servicing fees and late fees. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=116651436&loc=d3e122596-111746 + Details Name: us-gaap_AncillaryFeeIncomeGeneratedByServicingFinancialAssetsAmount Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

X

- Definition All amounts that, per contract, are due to the servicer in exchange for servicing the financial asset and would no longer be received by a servicer if the beneficial owners of the serviced assets (or their trustees or agents) were to exercise their actual or potential authority under the contract to shift the servicing to another servicer. Depending on the servicing contract, those fees may include some or all of the difference between the interest rate collected on the asset being serviced and the rate to be paid to the beneficial owners of the asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=116651436&loc=d3e122596-111746 + Details Name: us-gaap_ContractuallySpecifiedServicingFeesAmount Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

X

- Definition Amount of contractually specified servicing fee, late fee, and ancillary fee recognized as income for servicing asset and servicing liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=116651436&loc=d3e122596-111746 + Details Name: us-gaap_ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

X

- Definition All amounts that are due to the servicer of a financial asset as a result of the debt holder not meeting the monthly payment terms. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=116651436&loc=d3e122596-111746 + Details Name: us-gaap_LateFeeIncomeGeneratedByServicingFinancialAssetsAmount Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

X

- Definition Amount of other increase (decrease) to contract to service financial assets under which the benefits of servicing are expected to more than adequately compensate the servicer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 4 -Subparagraph (a)(7) -URI http://asc.fasb.org/extlink&oid=116651436&loc=d3e122739-111746 + Details Name: us-gaap_ServicingAssetAtAmortizedValueOtherChangesThatAffectBalanceAmount Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

X

- References No definition available. + Details Name: us-gaap_TransfersAndServicingAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

v3.20.1

LOANS PAYABLE	3 Months Ended
	Mar. 31, 2020
debt disclosure
Short-term Debt [Text Block]	NOTE 17 – LOANS PAYABLE   As of March 31, 2020, loans payable consisted of $60 million in short-term borrowings under the Primary Credit FED Discount Window Program bearing interest at 0.25%. The Corporation participates in the Borrower-in-Custody (“BIC”) Program of the FED. Through the BIC Program, a broad range of loans (including commercial, consumer and residential mortgages) may be pledged as collateral for borrowings through the FED Discount Window. As of March 31, 2020, collateral pledged related to this credit facility amounted to $1.2 billion, mainly commercial, consumer and residential mortgage loans, which after a margin haircuts resulted in over $758 million in lendable value. With the COVID-19 impacts on individual, communities and organizations continuing to evolve, the Federal Reserve has taken several actions to support the economy and financial stability including, among other things, lowering the target range for the federal funds rate and relaunching large scale asset purchases. The FED discount Window program provided the opportunity to access a low-rate short-term source of funding in the current high volatility market environment.

X

- References No definition available. + Details Name: us-gaap_DebtDisclosureAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

X

- Definition The entire disclosure for short-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details Name: us-gaap_ShortTermDebtTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

v3.20.1

LEASES - Supplemental Balance Sheet Information (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease right-of-use asset	$ 59,488	$ 61,327
Operating lease liability	$ 62,509	$ 64,259
Operating lease weighted average remaining lease term	10 years 8 months 12 days	10 years 9 months 18 days
Operating lease weighted average discount rate	0.033%	0.0329%

X

- References No definition available. + Details Name: us-gaap_LeasesAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

X

- Definition Present value of lessee's discounted obligation for lease payments from operating lease. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 45 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=77888419&loc=SL77918627-209977 + Details Name: us-gaap_OperatingLeaseLiability Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Amount of lessee's right to use underlying asset under operating lease. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 45 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=77888419&loc=SL77918627-209977 + Details Name: us-gaap_OperatingLeaseRightOfUseAsset Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Weighted average discount rate for operating lease calculated at point in time. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (g)(4) -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 55 -Paragraph 53 -URI http://asc.fasb.org/extlink&oid=77888399&loc=SL77918982-209971 + Details Name: us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent Namespace Prefix: us-gaap_ Data Type: num:percentItemType Balance Type: na Period Type: instant

X

- Definition Weighted average remaining lease term for operating lease, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 55 -Paragraph 53 -URI http://asc.fasb.org/extlink&oid=77888399&loc=SL77918982-209971 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (g)(3) -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980 + Details Name: us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1 Namespace Prefix: us-gaap_ Data Type: xbrli:durationItemType Balance Type: na Period Type: instant

v3.20.1

LOANS HELD FOR INVESTMENT - Loan Restructuring and Effect on Allowance for Loan and Lease Losses (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Loans And Leases Receivable Disclosure [Abstract]
Beginning balance	$ 155,139	$ 196,362
Impact of adopting ASC 326	137,700
Provision (release) for credit losses	74,045	11,820
Ending balance	292,774	183,732
Commercial Portfolio Segment [Member] | Construction Loans [Member]
Loans And Leases Receivable Disclosure [Abstract]
Beginning balance	2,370	3,592
Provision (release) for credit losses	2,062	(95)
Ending balance	5,253	3,331
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Loans And Leases Receivable Disclosure [Abstract]
Beginning balance	39,194	55,581
Provision (release) for credit losses	14,167	121
Ending balance	33,971	53,430
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Loans And Leases Receivable Disclosure [Abstract]
Beginning balance	15,198	32,546
Provision (release) for credit losses	8,391	(5,009)
Ending balance	38,310	22,321
Entity Loan Modification Program [Member]
Financing Receivable, Troubled Debt Restructuring [Abstract]
Beginning Balance of TDRs	487,997	582,647
New TDRs loan splits	23,125	25,459
Paid-off and partial payments	(9,982)	(13,022)
Ending balance of TDRs	497,295	589,795
Entity Loan Modification Program [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Abstract]
Beginning Balance of TDRs	4,321
Ending balance of TDRs	4,275
Entity Loan Modification Program [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Troubled Debt Restructuring [Abstract]
Beginning Balance of TDRs	74,979
Ending balance of TDRs	74,332
Entity Loan Modification Program [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Troubled Debt Restructuring [Abstract]
Beginning Balance of TDRs	66,849
Ending balance of TDRs	82,719
Entity Loan Modification Program [Member] | Ab Note Restructure Workout Strategy [Member]
Financing Receivable, Troubled Debt Restructuring [Abstract]
Beginning Balance of TDRs	51,228	33,840
New TDRs loan splits	0	20,059
Paid-off and partial payments	(322)	(331)
Ending balance of TDRs	50,906	53,568
Loans And Leases Receivable Disclosure [Abstract]
Beginning balance	3,530	473
Provision (release) for credit losses	(87)	487
Ending balance	3,117	960
Entity Loan Modification Program [Member] | Ab Note Restructure Workout Strategy [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period Of Adoption Adjustment [Member]
Loans And Leases Receivable Disclosure [Abstract]
Impact of adopting ASC 326	(326)	0
Entity Loan Modification Program [Member] | Ab Note Restructure Workout Strategy [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Abstract]
Beginning Balance of TDRs	1,883	2,431
New TDRs loan splits	0	0
Paid-off and partial payments	(25)	(71)
Ending balance of TDRs	1,858	2,360
Loans And Leases Receivable Disclosure [Abstract]
Beginning balance	0	0
Provision (release) for credit losses	0	0
Ending balance	0	0
Entity Loan Modification Program [Member] | Ab Note Restructure Workout Strategy [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period Of Adoption Adjustment [Member]
Loans And Leases Receivable Disclosure [Abstract]
Impact of adopting ASC 326	0	0
Entity Loan Modification Program [Member] | Ab Note Restructure Workout Strategy [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Troubled Debt Restructuring [Abstract]
Beginning Balance of TDRs	22,749	3,003
New TDRs loan splits	0	20,059
Paid-off and partial payments	(97)	(30)
Ending balance of TDRs	22,652	23,032
Loans And Leases Receivable Disclosure [Abstract]
Beginning balance	3,516	0
Provision (release) for credit losses	15	611
Ending balance	3,116	611
Entity Loan Modification Program [Member] | Ab Note Restructure Workout Strategy [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period Of Adoption Adjustment [Member]
Loans And Leases Receivable Disclosure [Abstract]
Impact of adopting ASC 326	(415)	0
Entity Loan Modification Program [Member] | Ab Note Restructure Workout Strategy [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Troubled Debt Restructuring [Abstract]
Beginning Balance of TDRs	26,596	28,406
New TDRs loan splits	0	0
Paid-off and partial payments	(200)	(230)
Ending balance of TDRs	26,396	28,176
Loans And Leases Receivable Disclosure [Abstract]
Beginning balance	14	473
Provision (release) for credit losses	(102)	(124)
Ending balance	1	349
Entity Loan Modification Program [Member] | Ab Note Restructure Workout Strategy [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period Of Adoption Adjustment [Member]
Loans And Leases Receivable Disclosure [Abstract]
Impact of adopting ASC 326	$ 89	$ 0

X

- Definition Recorded investment in loans that were modified under troubled debt restructurings during the period. + References No definition available. + Details Name: fbp_FinancingReceivableModificationsNewTroubledDebtRestructurings Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

X

- Definition Repayments related to Trouble Debt Restructuring Loans. + References No definition available. + Details Name: fbp_FinancingReceivableModificationsTroubledDebtRestructuringsPaidOrPartialPaid Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

X

- Definition Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953423-111524 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118955202&loc=SL82895884-210446 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(7)(d)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 + Details Name: us-gaap_FinancingReceivableAllowanceForCreditLosses Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Amount of increase (decrease) in allowance for credit loss on financing receivable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953423-111524 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 + Details Name: us-gaap_FinancingReceivableAllowanceForCreditLossesPeriodIncreaseDecrease Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: na Period Type: duration

X

- Definition Amount of financing receivable modified as troubled debt restructuring. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953676-111524 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 40 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=118939409&loc=d3e18845-111554 + Details Name: us-gaap_FinancingReceivableModificationsRecordedInvestment Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

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X

- References No definition available. + Details Name: us-gaap_LoansAndLeasesReceivableDisclosureAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

X

- Definition Amount of expense related to estimated loss from loan and lease transactions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.11) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953423-111524 + Details Name: us-gaap_ProvisionForLoanAndLeaseLosses Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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v3.20.1

ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LEASES - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Jan. 01, 2020	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for credit losses on loans and finance leases	$ 292,774	$ 183,732		$ 155,139	$ 196,362
Increase (decrease) in ACL	137,700
Provision (release) for credit losses	74,045	11,820
Net charge-oofs	17,600
ACL for unfunded loan commitments and standby letters of credit	5,741	0		$ 0	$ 412
Provison (release) for credit losses on unfunded loan commitments and standby letters of credit	1,819	$ (412)
COVID-19
Financing Receivable Allowance For Credit Losses [Line Items]
Increase (decrease) in ACL	59,800
Build Reserve	$ 56,500
ASC 326
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for credit losses on loans and finance leases			$ 236,304
ACL for unfunded loan commitments and standby letters of credit			3,922
ASC 326 | Cumulative Effect Period Of Adoption Adjustment [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for credit losses on loans and finance leases			81,165
ACL for unfunded loan commitments and standby letters of credit			$ 3,922

X

- Definition Amount, after recoveries, of loans and leases that have been written-off. + References No definition available. + Details Name: us-gaap_AllowanceForLoanAndLeaseLossesWriteoffsNet Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

X

- Definition Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953423-111524 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118955202&loc=SL82895884-210446 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(7)(d)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 + Details Name: us-gaap_FinancingReceivableAllowanceForCreditLosses Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details Name: us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

X

- Definition Amount of increase (decrease) in allowance for credit loss on financing receivable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953423-111524 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 + Details Name: us-gaap_FinancingReceivableAllowanceForCreditLossesPeriodIncreaseDecrease Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: na Period Type: duration

X

- Definition Amount of expected credit loss for credit exposure on off-balance-sheet commitment, including but not limited to, loan commitment, standby letter of credit, financial guarantee not accounted for as insurance. Excludes off-balance sheet credit exposure accounted for as insurance and instrument accounted for under derivatives and hedging. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118956080&loc=d3e11927-110247 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=118955202&loc=SL82919202-210446 + Details Name: us-gaap_OffBalanceSheetCreditLossLiability Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Amount of expense (reversal of expense) for expected credit loss for off-balance sheet credit exposure. Excludes off-balance sheet credit exposure accounted for as insurance and instrument accounted for under derivatives and hedging. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 + Details Name: us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

X

- Definition Amount of expense related to estimated loss from loan and lease transactions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.11) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953423-111524 + Details Name: us-gaap_ProvisionForLoanAndLeaseLosses Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

X

- Definition Amount of credit loss expense (reversal of expense) for financing receivable. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(7)(d)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(11)) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 + Details Name: us-gaap_ProvisionForLoanLossesExpensed Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

X

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X

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X

- Details Name: fbp_CumulativeEffectPeriodOfAdoptionAxis=fbp_CumulativeEffectPeriodOfAdoptionAdjustmentMember Namespace Prefix: Data Type: na Balance Type: Period Type:

v3.20.1

LOANS HELD FOR INVESTMENT - Corporation's Consumer Loans by Origination Year Based on Original Credit Scores (Detail) - Loans held for investmet [Member] - Consumer Portfolio Segment [Member] - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	$ 185,805
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	829,966
Financing Receivable, Originated Two Years before Latest Fiscal Year	510,847
Financing Receivable, Originated Three Years before Latest Fiscal Year	237,145
Financing Receivable, Originated Four Years before Latest Fiscal Year	139,363
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	111,389
Financing Receivable, Revolving	298,114
Financing Receivable, before Allowance for Credit Loss	2,312,629	$ 2,281,653
Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	185,606
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	828,272
Financing Receivable, Originated Two Years before Latest Fiscal Year	498,587
Financing Receivable, Originated Three Years before Latest Fiscal Year	229,178
Financing Receivable, Originated Four Years before Latest Fiscal Year	134,457
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	105,183
Financing Receivable, Revolving	295,121
Financing Receivable, before Allowance for Credit Loss	2,276,404	2,241,131
Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	199
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	1,694
Financing Receivable, Originated Two Years before Latest Fiscal Year	12,260
Financing Receivable, Originated Three Years before Latest Fiscal Year	7,967
Financing Receivable, Originated Four Years before Latest Fiscal Year	4,906
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	6,206
Financing Receivable, Revolving	2,993
Financing Receivable, before Allowance for Credit Loss	36,225	40,522
Auto loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	111,462
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	468,556
Financing Receivable, Originated Two Years before Latest Fiscal Year	292,769
Financing Receivable, Originated Three Years before Latest Fiscal Year	142,515
Financing Receivable, Originated Four Years before Latest Fiscal Year	84,768
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	62,982
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	1,163,052	1,134,855
Auto loans [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	111,462
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	467,003
Financing Receivable, Originated Two Years before Latest Fiscal Year	280,552
Financing Receivable, Originated Three Years before Latest Fiscal Year	134,834
Financing Receivable, Originated Four Years before Latest Fiscal Year	80,795
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	61,628
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	1,136,274	1,104,360
Auto loans [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	1,553
Financing Receivable, Originated Two Years before Latest Fiscal Year	12,217
Financing Receivable, Originated Three Years before Latest Fiscal Year	7,681
Financing Receivable, Originated Four Years before Latest Fiscal Year	3,973
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	1,354
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	26,778	30,495
Auto loans [Member] | FICO Score Less than 620 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	13,484
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	55,045
Financing Receivable, Originated Two Years before Latest Fiscal Year	30,228
Financing Receivable, Originated Three Years before Latest Fiscal Year	14,511
Financing Receivable, Originated Four Years before Latest Fiscal Year	10,633
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	8,992
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	132,893	130,397
Auto loans [Member] | FICO Score Less than 620 [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	13,484
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	55,007
Financing Receivable, Originated Two Years before Latest Fiscal Year	29,046
Financing Receivable, Originated Three Years before Latest Fiscal Year	13,441
Financing Receivable, Originated Four Years before Latest Fiscal Year	9,764
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	8,755
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	129,497	126,540
Auto loans [Member] | FICO Score Less than 620 [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	38
Financing Receivable, Originated Two Years before Latest Fiscal Year	1,182
Financing Receivable, Originated Three Years before Latest Fiscal Year	1,070
Financing Receivable, Originated Four Years before Latest Fiscal Year	869
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	237
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	3,396	3,857
Auto loans [Member] | FICO Score Greater than or equal to 620 and less than 680 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	36,068
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	160,923
Financing Receivable, Originated Two Years before Latest Fiscal Year	110,044
Financing Receivable, Originated Three Years before Latest Fiscal Year	51,366
Financing Receivable, Originated Four Years before Latest Fiscal Year	26,582
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	24,050
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	409,033	403,942
Auto loans [Member] | FICO Score Greater than or equal to 620 and less than 680 [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	36,068
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	160,298
Financing Receivable, Originated Two Years before Latest Fiscal Year	104,758
Financing Receivable, Originated Three Years before Latest Fiscal Year	47,050
Financing Receivable, Originated Four Years before Latest Fiscal Year	24,460
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	23,238
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	395,872	388,890
Auto loans [Member] | FICO Score Greater than or equal to 620 and less than 680 [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	625
Financing Receivable, Originated Two Years before Latest Fiscal Year	5,286
Financing Receivable, Originated Three Years before Latest Fiscal Year	4,316
Financing Receivable, Originated Four Years before Latest Fiscal Year	2,122
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	812
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	13,161	15,052
Auto loans [Member] | FICO Score Greater than or equal to 680 and less than 740 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	31,582
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	141,896
Financing Receivable, Originated Two Years before Latest Fiscal Year	92,643
Financing Receivable, Originated Three Years before Latest Fiscal Year	42,842
Financing Receivable, Originated Four Years before Latest Fiscal Year	24,931
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	16,539
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	350,433	342,324
Auto loans [Member] | FICO Score Greater than or equal to 680 and less than 740 [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	31,582
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	141,358
Financing Receivable, Originated Two Years before Latest Fiscal Year	88,652
Financing Receivable, Originated Three Years before Latest Fiscal Year	40,956
Financing Receivable, Originated Four Years before Latest Fiscal Year	24,097
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	16,273
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	342,918	333,734
Auto loans [Member] | FICO Score Greater than or equal to 680 and less than 740 [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	538
Financing Receivable, Originated Two Years before Latest Fiscal Year	3,991
Financing Receivable, Originated Three Years before Latest Fiscal Year	1,886
Financing Receivable, Originated Four Years before Latest Fiscal Year	834
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	266
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	7,515	8,590
Auto loans [Member] | FICO Score Greater than or equal to 740 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	30,328
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	110,692
Financing Receivable, Originated Two Years before Latest Fiscal Year	59,854
Financing Receivable, Originated Three Years before Latest Fiscal Year	33,796
Financing Receivable, Originated Four Years before Latest Fiscal Year	22,622
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	13,401
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	270,693	258,192
Auto loans [Member] | FICO Score Greater than or equal to 740 [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	30,328
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	110,340
Financing Receivable, Originated Two Years before Latest Fiscal Year	58,096
Financing Receivable, Originated Three Years before Latest Fiscal Year	33,387
Financing Receivable, Originated Four Years before Latest Fiscal Year	22,474
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	13,362
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	267,987	255,196
Auto loans [Member] | FICO Score Greater than or equal to 740 [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	352
Financing Receivable, Originated Two Years before Latest Fiscal Year	1,758
Financing Receivable, Originated Three Years before Latest Fiscal Year	409
Financing Receivable, Originated Four Years before Latest Fiscal Year	148
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	39
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	2,706	2,996
Finance Leases [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	30,287
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	165,195
Financing Receivable, Originated Two Years before Latest Fiscal Year	128,393
Financing Receivable, Originated Three Years before Latest Fiscal Year	51,281
Financing Receivable, Originated Four Years before Latest Fiscal Year	33,868
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	20,122
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	429,146	414,532
Finance Leases [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	30,287
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	165,195
Financing Receivable, Originated Two Years before Latest Fiscal Year	128,393
Financing Receivable, Originated Three Years before Latest Fiscal Year	51,281
Financing Receivable, Originated Four Years before Latest Fiscal Year	33,868
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	20,122
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	429,146	414,532
Finance Leases [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	0
Finance Leases [Member] | FICO Score Less than 620 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	917
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	6,052
Financing Receivable, Originated Two Years before Latest Fiscal Year	5,140
Financing Receivable, Originated Three Years before Latest Fiscal Year	2,259
Financing Receivable, Originated Four Years before Latest Fiscal Year	737
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	591
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	15,696	15,852
Finance Leases [Member] | FICO Score Less than 620 [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	917
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	6,052
Financing Receivable, Originated Two Years before Latest Fiscal Year	5,140
Financing Receivable, Originated Three Years before Latest Fiscal Year	2,259
Financing Receivable, Originated Four Years before Latest Fiscal Year	737
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	591
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	15,696	15,852
Finance Leases [Member] | FICO Score Less than 620 [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	0
Finance Leases [Member] | FICO Score Greater than or equal to 620 and less than 680 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	6,651
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	39,654
Financing Receivable, Originated Two Years before Latest Fiscal Year	31,521
Financing Receivable, Originated Three Years before Latest Fiscal Year	14,862
Financing Receivable, Originated Four Years before Latest Fiscal Year	6,261
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	4,352
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	103,301	100,438
Finance Leases [Member] | FICO Score Greater than or equal to 620 and less than 680 [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	6,651
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	39,654
Financing Receivable, Originated Two Years before Latest Fiscal Year	31,521
Financing Receivable, Originated Three Years before Latest Fiscal Year	14,862
Financing Receivable, Originated Four Years before Latest Fiscal Year	6,261
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	4,352
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	103,301	100,438
Finance Leases [Member] | FICO Score Greater than or equal to 620 and less than 680 [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	0
Finance Leases [Member] | FICO Score Greater than or equal to 680 and less than 740 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	11,902
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	64,512
Financing Receivable, Originated Two Years before Latest Fiscal Year	53,723
Financing Receivable, Originated Three Years before Latest Fiscal Year	22,471
Financing Receivable, Originated Four Years before Latest Fiscal Year	14,122
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	8,562
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	175,292	170,034
Finance Leases [Member] | FICO Score Greater than or equal to 680 and less than 740 [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	11,902
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	64,512
Financing Receivable, Originated Two Years before Latest Fiscal Year	53,723
Financing Receivable, Originated Three Years before Latest Fiscal Year	22,471
Financing Receivable, Originated Four Years before Latest Fiscal Year	14,122
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	8,562
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	175,292	170,034
Finance Leases [Member] | FICO Score Greater than or equal to 680 and less than 740 [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	0
Finance Leases [Member] | FICO Score Greater than or equal to 740 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	10,817
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	54,977
Financing Receivable, Originated Two Years before Latest Fiscal Year	38,009
Financing Receivable, Originated Three Years before Latest Fiscal Year	11,689
Financing Receivable, Originated Four Years before Latest Fiscal Year	12,748
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	6,617
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	134,857	128,208
Finance Leases [Member] | FICO Score Greater than or equal to 740 [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	10,817
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	54,977
Financing Receivable, Originated Two Years before Latest Fiscal Year	38,009
Financing Receivable, Originated Three Years before Latest Fiscal Year	11,689
Financing Receivable, Originated Four Years before Latest Fiscal Year	12,748
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	6,617
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	134,857	128,208
Finance Leases [Member] | FICO Score Greater than or equal to 740 [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	0
Personal Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	26,287
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	124,759
Financing Receivable, Originated Two Years before Latest Fiscal Year	68,373
Financing Receivable, Originated Three Years before Latest Fiscal Year	31,581
Financing Receivable, Originated Four Years before Latest Fiscal Year	14,769
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	7,552
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	273,321	274,875
Personal Loans [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	26,277
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	124,695
Financing Receivable, Originated Two Years before Latest Fiscal Year	68,373
Financing Receivable, Originated Three Years before Latest Fiscal Year	31,480
Financing Receivable, Originated Four Years before Latest Fiscal Year	14,519
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	7,552
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	272,896	274,093
Personal Loans [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	10
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	64
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	101
Financing Receivable, Originated Four Years before Latest Fiscal Year	250
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	425	782
Personal Loans [Member] | FICO Score Less than 620 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	840
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	3,053
Financing Receivable, Originated Two Years before Latest Fiscal Year	2,088
Financing Receivable, Originated Three Years before Latest Fiscal Year	825
Financing Receivable, Originated Four Years before Latest Fiscal Year	968
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	618
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	8,392	8,790
Personal Loans [Member] | FICO Score Less than 620 [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	840
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	3,042
Financing Receivable, Originated Two Years before Latest Fiscal Year	2,088
Financing Receivable, Originated Three Years before Latest Fiscal Year	820
Financing Receivable, Originated Four Years before Latest Fiscal Year	718
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	618
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	8,126	8,197
Personal Loans [Member] | FICO Score Less than 620 [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	11
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	5
Financing Receivable, Originated Four Years before Latest Fiscal Year	250
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	266	593
Personal Loans [Member] | FICO Score Greater than or equal to 620 and less than 680 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	4,911
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	27,691
Financing Receivable, Originated Two Years before Latest Fiscal Year	12,014
Financing Receivable, Originated Three Years before Latest Fiscal Year	4,921
Financing Receivable, Originated Four Years before Latest Fiscal Year	1,849
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	1,032
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	52,418	52,712
Personal Loans [Member] | FICO Score Greater than or equal to 620 and less than 680 [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	4,901
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	27,691
Financing Receivable, Originated Two Years before Latest Fiscal Year	12,014
Financing Receivable, Originated Three Years before Latest Fiscal Year	4,921
Financing Receivable, Originated Four Years before Latest Fiscal Year	1,849
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	1,032
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	52,408	52,712
Personal Loans [Member] | FICO Score Greater than or equal to 620 and less than 680 [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	10
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	10	0
Personal Loans [Member] | FICO Score Greater than or equal to 680 and less than 740 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	11,790
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	53,339
Financing Receivable, Originated Two Years before Latest Fiscal Year	27,814
Financing Receivable, Originated Three Years before Latest Fiscal Year	13,079
Financing Receivable, Originated Four Years before Latest Fiscal Year	5,677
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	3,045
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	114,744	114,232
Personal Loans [Member] | FICO Score Greater than or equal to 680 and less than 740 [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	11,790
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	53,286
Financing Receivable, Originated Two Years before Latest Fiscal Year	27,814
Financing Receivable, Originated Three Years before Latest Fiscal Year	13,053
Financing Receivable, Originated Four Years before Latest Fiscal Year	5,677
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	3,045
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	114,665	114,147
Personal Loans [Member] | FICO Score Greater than or equal to 680 and less than 740 [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	53
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	26
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	79	85
Personal Loans [Member] | FICO Score Greater than or equal to 740 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	8,746
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	40,676
Financing Receivable, Originated Two Years before Latest Fiscal Year	26,457
Financing Receivable, Originated Three Years before Latest Fiscal Year	12,756
Financing Receivable, Originated Four Years before Latest Fiscal Year	6,275
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	2,857
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	97,767	98,739
Personal Loans [Member] | FICO Score Greater than or equal to 740 [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	8,746
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	40,676
Financing Receivable, Originated Two Years before Latest Fiscal Year	26,457
Financing Receivable, Originated Three Years before Latest Fiscal Year	12,686
Financing Receivable, Originated Four Years before Latest Fiscal Year	6,275
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	2,857
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	97,697	98,668
Personal Loans [Member] | FICO Score Greater than or equal to 740 [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	70
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	70	71
Personal Loans [Member] | Unscorable [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	402
Personal Loans [Member] | Unscorable [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	369
Personal Loans [Member] | Unscorable [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	33
Credit cards [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	284,074
Financing Receivable, before Allowance for Credit Loss	284,074	292,290
Credit cards [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	284,074
Financing Receivable, before Allowance for Credit Loss	284,074	292,290
Credit cards [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	0
Credit cards [Member] | FICO Score Less than 620 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	10,823
Financing Receivable, before Allowance for Credit Loss	10,823	11,247
Credit cards [Member] | FICO Score Less than 620 [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	10,823
Financing Receivable, before Allowance for Credit Loss	10,823	11,247
Credit cards [Member] | FICO Score Less than 620 [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	0
Credit cards [Member] | FICO Score Greater than or equal to 620 and less than 680 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	57,032
Financing Receivable, before Allowance for Credit Loss	57,032	57,643
Credit cards [Member] | FICO Score Greater than or equal to 620 and less than 680 [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	57,032
Financing Receivable, before Allowance for Credit Loss	57,032	57,643
Credit cards [Member] | FICO Score Greater than or equal to 620 and less than 680 [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	0
Credit cards [Member] | FICO Score Greater than or equal to 680 and less than 740 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	124,289
Financing Receivable, before Allowance for Credit Loss	124,289	126,977
Credit cards [Member] | FICO Score Greater than or equal to 680 and less than 740 [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	124,289
Financing Receivable, before Allowance for Credit Loss	124,289	126,977
Credit cards [Member] | FICO Score Greater than or equal to 680 and less than 740 [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	0
Credit cards [Member] | FICO Score Greater than or equal to 740 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	91,930
Financing Receivable, before Allowance for Credit Loss	91,930	96,423
Credit cards [Member] | FICO Score Greater than or equal to 740 [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	91,930
Financing Receivable, before Allowance for Credit Loss	91,930	96,423
Credit cards [Member] | FICO Score Greater than or equal to 740 [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	0	0
Other consumer loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	17,769
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	71,456
Financing Receivable, Originated Two Years before Latest Fiscal Year	21,312
Financing Receivable, Originated Three Years before Latest Fiscal Year	11,768
Financing Receivable, Originated Four Years before Latest Fiscal Year	5,958
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	20,733
Financing Receivable, Revolving	14,040
Financing Receivable, before Allowance for Credit Loss	163,036	165,101
Other consumer loans [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	17,580
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	71,379
Financing Receivable, Originated Two Years before Latest Fiscal Year	21,269
Financing Receivable, Originated Three Years before Latest Fiscal Year	11,583
Financing Receivable, Originated Four Years before Latest Fiscal Year	5,275
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	15,881
Financing Receivable, Revolving	11,047
Financing Receivable, before Allowance for Credit Loss	154,014	155,856
Other consumer loans [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	189
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	77
Financing Receivable, Originated Two Years before Latest Fiscal Year	43
Financing Receivable, Originated Three Years before Latest Fiscal Year	185
Financing Receivable, Originated Four Years before Latest Fiscal Year	683
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	4,852
Financing Receivable, Revolving	2,993
Financing Receivable, before Allowance for Credit Loss	9,022	9,245
Other consumer loans [Member] | FICO Score Less than 620 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	2,887
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	13,925
Financing Receivable, Originated Two Years before Latest Fiscal Year	3,776
Financing Receivable, Originated Three Years before Latest Fiscal Year	2,308
Financing Receivable, Originated Four Years before Latest Fiscal Year	1,046
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	812
Financing Receivable, Revolving	3,608
Financing Receivable, before Allowance for Credit Loss	28,362	28,334
Other consumer loans [Member] | FICO Score Less than 620 [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	2,887
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	13,848
Financing Receivable, Originated Two Years before Latest Fiscal Year	3,776
Financing Receivable, Originated Three Years before Latest Fiscal Year	2,308
Financing Receivable, Originated Four Years before Latest Fiscal Year	1,046
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	812
Financing Receivable, Revolving	3,608
Financing Receivable, before Allowance for Credit Loss	28,285	28,251
Other consumer loans [Member] | FICO Score Less than 620 [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	77
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	77	83
Other consumer loans [Member] | FICO Score Greater than or equal to 620 and less than 680 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	8,173
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	33,375
Financing Receivable, Originated Two Years before Latest Fiscal Year	9,625
Financing Receivable, Originated Three Years before Latest Fiscal Year	5,391
Financing Receivable, Originated Four Years before Latest Fiscal Year	2,484
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	7,643
Financing Receivable, Revolving	2,078
Financing Receivable, before Allowance for Credit Loss	68,769	69,601
Other consumer loans [Member] | FICO Score Greater than or equal to 620 and less than 680 [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	7,984
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	33,375
Financing Receivable, Originated Two Years before Latest Fiscal Year	9,625
Financing Receivable, Originated Three Years before Latest Fiscal Year	5,282
Financing Receivable, Originated Four Years before Latest Fiscal Year	2,455
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	7,012
Financing Receivable, Revolving	1,982
Financing Receivable, before Allowance for Credit Loss	67,715	68,727
Other consumer loans [Member] | FICO Score Greater than or equal to 620 and less than 680 [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	189
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	109
Financing Receivable, Originated Four Years before Latest Fiscal Year	29
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	631
Financing Receivable, Revolving	96
Financing Receivable, before Allowance for Credit Loss	1,054	874
Other consumer loans [Member] | FICO Score Greater than or equal to 680 and less than 740 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	5,475
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	19,082
Financing Receivable, Originated Two Years before Latest Fiscal Year	6,281
Financing Receivable, Originated Three Years before Latest Fiscal Year	3,116
Financing Receivable, Originated Four Years before Latest Fiscal Year	1,695
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	4,642
Financing Receivable, Revolving	4,147
Financing Receivable, before Allowance for Credit Loss	44,438	44,473
Other consumer loans [Member] | FICO Score Greater than or equal to 680 and less than 740 [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	5,475
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	19,082
Financing Receivable, Originated Two Years before Latest Fiscal Year	6,238
Financing Receivable, Originated Three Years before Latest Fiscal Year	3,065
Financing Receivable, Originated Four Years before Latest Fiscal Year	1,366
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	3,329
Financing Receivable, Revolving	3,367
Financing Receivable, before Allowance for Credit Loss	41,922	41,914
Other consumer loans [Member] | FICO Score Greater than or equal to 680 and less than 740 [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	43
Financing Receivable, Originated Three Years before Latest Fiscal Year	51
Financing Receivable, Originated Four Years before Latest Fiscal Year	329
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	1,313
Financing Receivable, Revolving	780
Financing Receivable, before Allowance for Credit Loss	2,516	2,559
Other consumer loans [Member] | FICO Score Greater than or equal to 740 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	1,234
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	5,074
Financing Receivable, Originated Two Years before Latest Fiscal Year	1,630
Financing Receivable, Originated Three Years before Latest Fiscal Year	953
Financing Receivable, Originated Four Years before Latest Fiscal Year	733
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	5,023
Financing Receivable, Revolving	3,809
Financing Receivable, before Allowance for Credit Loss	18,456	18,932
Other consumer loans [Member] | FICO Score Greater than or equal to 740 [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	1,234
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	5,074
Financing Receivable, Originated Two Years before Latest Fiscal Year	1,630
Financing Receivable, Originated Three Years before Latest Fiscal Year	928
Financing Receivable, Originated Four Years before Latest Fiscal Year	408
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	2,115
Financing Receivable, Revolving	1,692
Financing Receivable, before Allowance for Credit Loss	13,081	13,359
Other consumer loans [Member] | FICO Score Greater than or equal to 740 [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	25
Financing Receivable, Originated Four Years before Latest Fiscal Year	325
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	2,908
Financing Receivable, Revolving	2,117
Financing Receivable, before Allowance for Credit Loss	5,375	5,573
Other consumer loans [Member] | Unscorable [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	2,613
Financing Receivable, Revolving	398
Financing Receivable, before Allowance for Credit Loss	3,011	3,761
Other consumer loans [Member] | Unscorable [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	2,613
Financing Receivable, Revolving	398
Financing Receivable, before Allowance for Credit Loss	3,011	3,605
Other consumer loans [Member] | Unscorable [Member] | Florida region [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, Revolving	0
Financing Receivable, before Allowance for Credit Loss	$ 0	$ 156

X

- Definition Amount of financing receivable originated five or more years prior to latest fiscal year. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 79 -URI http://asc.fasb.org/extlink&oid=118955255&loc=SL82922352-210448 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919232-210447 + Details Name: us-gaap_FinancingReceivableOriginatedFiveOrMoreYearsBeforeLatestFiscalYear Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of financing receivable originated four years prior to latest fiscal year. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 79 -URI http://asc.fasb.org/extlink&oid=118955255&loc=SL82922352-210448 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919232-210447 + Details Name: us-gaap_FinancingReceivableOriginatedFourYearsBeforeLatestFiscalYear Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of financing receivable originated in current fiscal year. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 79 -URI http://asc.fasb.org/extlink&oid=118955255&loc=SL82922352-210448 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919232-210447 + Details Name: us-gaap_FinancingReceivableOriginatedInCurrentFiscalYear Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of financing receivable originated in fiscal year prior to latest fiscal year. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919232-210447 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 79 -URI http://asc.fasb.org/extlink&oid=118955255&loc=SL82922352-210448 + Details Name: us-gaap_FinancingReceivableOriginatedInFiscalYearBeforeLatestFiscalYear Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of financing receivable originated three years prior to latest fiscal year. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 79 -URI http://asc.fasb.org/extlink&oid=118955255&loc=SL82922352-210448 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919232-210447 + Details Name: us-gaap_FinancingReceivableOriginatedThreeYearsBeforeLatestFiscalYear Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of financing receivable originated two years prior to latest fiscal year. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 79 -URI http://asc.fasb.org/extlink&oid=118955255&loc=SL82922352-210448 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919232-210447 + Details Name: us-gaap_FinancingReceivableOriginatedTwoYearsBeforeLatestFiscalYear Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details Name: us-gaap_FinancingReceivableRecordedInvestmentLineItems Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

X

- Definition Amount of financing receivable that can be withdrawn, repaid and redrawn. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919232-210447 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 79 -URI http://asc.fasb.org/extlink&oid=118955255&loc=SL82922352-210448 + Details Name: us-gaap_FinancingReceivableRevolving Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount, before allowance for credit loss, of financing receivable. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 5 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919230-210447 + Details Name: us-gaap_NotesReceivableGross Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Details Name: us-gaap_FairValueByAssetClassAxis=fbp_HeldToInvestmentLoansMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_FinancingReceivablePortfolioSegmentAxis=us-gaap_ConsumerPortfolioSegmentMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: srt_StatementGeographicalAxis=fbp_PrandviMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: srt_StatementGeographicalAxis=country_US Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=us-gaap_AutomobileLoanMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_CreditScoreFicoAxis=fbp_FicoScoreLessThan620Member Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_CreditScoreFicoAxis=fbp_FicoScore620To679Member Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_CreditScoreFicoAxis=fbp_FicoScore680To739Member Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_CreditScoreFicoAxis=fbp_FicoScoreGreaterThanOrEqual740Member Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=fbp_FinanceLeasesMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=fbp_PersonalLoansMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_CreditScoreFicoAxis=fbp_UnscorableMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=us-gaap_CreditCardReceivablesMember Namespace Prefix: Data Type: na Balance Type: Period Type:

X

- Details Name: us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=fbp_OtherLoansMember Namespace Prefix: Data Type: na Balance Type: Period Type:

v3.20.1

FIRST BANCORP. (Holding Company Only) Financial Information (Tables)	3 Months Ended
	Mar. 31, 2020
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Statements of Financial Condition [Table Text Block]	The following condensed financial information presents the financial position of First BanCorp at the holding company level only as of March 31, 2020 and December 31, 2019, and the results of its operations for the quarters ended March 31, 2020 and 2019:. Statements of Financial Condition (Unaudited)               As of March 31,   As of December 31,   2020   2019 (In thousands)         Assets           Cash and due from banks $ 16,028   $ 16,895 Money market investments   6,211     6,211 Other investment securities   285     285 Investment in First Bank Puerto Rico, at equity   2,331,941     2,362,182 Investment in First Bank Insurance Agency, at equity   28,832     24,995 Investment in FBP Statutory Trust I   1,963     1,963 Investment in FBP Statutory Trust II   3,561     3,561 Other assets   782     509 Total assets $ 2,389,603   $ 2,416,601             Liabilities and Stockholders' Equity           Liabilities:           Other borrowings $ 184,150   $ 184,150 Accounts payable and other liabilities   5,702     4,378 Total liabilities   189,852     188,528             Stockholders' equity   2,199,751     2,228,073 Total liabilities and stockholders' equity $ 2,389,603   $ 2,416,601
Statements of Income (Loss) [Table Text Block]	Statements of Income   (Unaudited)                   Quarter Ended     March 31,   March 31,     2020   2019     (In thousands)               Income:             Interest income on money market investments $ 33   $ 105   Dividend income from banking subsidiaries   13,629     9,500   Other income   61     75       13,723     9,680   Expense:             Other borrowings   2,032     2,466   Other operating expenses   523     556       2,555     3,022   Income before income taxes and equity in undistributed             (losses) earnings of subsidiaries   11,168     6,658   Income tax provision   1,382     1,339   Equity in undistributed (losses) earnings of subsidiaries   (7,520)     37,995   Net income $ 2,266   $ 43,314   Other comprehensive income, net of tax   42,352     20,510   Comprehensive income $ 44,618   $ 63,824

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- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details Name: srt_ScheduleOfCondensedBalanceSheetTableTextBlock Namespace Prefix: srt_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

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- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details Name: srt_ScheduleOfCondensedIncomeStatementTableTextBlock Namespace Prefix: srt_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

v3.20.1

POTENTIAL ACQUISITION OF BANCO SANTANDER PUERTO RICO - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020
Business Acquisition [Line Items]
Merger and Restructuring costs	$ 845	$ 0
Acquisition And Merger [Member]
Business Acquisition [Line Items]
Business Acquisition Purchase Price To Tangible Common Equity	117.50%
Acquisition Premium	$ 65,000		$ 65,000
Excess Capital Percentage Business Acquisition Purchase Price	100.00%
Merger and Restructuring costs	$ 800		$ 12,200

X

- Definition The difference between the estimated real value of a company and the actual price paid to obtain it. + References No definition available. + Details Name: fbp_AcquisitionPremium Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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v3.20.1

FIRST BANCORP. (Holding Company Only) Financial Information - Statements of Income (Unaudited) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income:
Interest income on money market investments	$ 15,876	$ 16,018
Other income	2,262	2,829
Expense:
Income tax provision	(2,967)	17,618
Net income	2,266	43,314
Other comprehensive income, net of tax	42,352	20,510
Comprehensive income	44,618	63,824
Holding Company [Member]
Income:
Interest income on money market investments	33	105
Other income	61	75
Total interest income and dividends on investments	13,723	9,680
Expense:
Other borrowings	2,032	2,466
Other operating expenses	523	556
Total operating expenses	2,555	3,022
Income before income taxes and equity in undistributed (losses) earnings of subsidiaries	11,168	6,658
Income tax provision	1,382	1,339
Equity in undistributed (losses) earnings of subsidiaries	(7,520)	37,995
Net income	2,266	43,314
Other comprehensive income, net of tax	42,352	20,510
Comprehensive income	44,618	63,824
Investment In Banking Subsidiary [Member] | Holding Company [Member]
Income:
Dividend income	$ 13,629	$ 9,500

X

- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=118930883&loc=d3e557-108580 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1B -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669625-108580 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1A -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669619-108580 + Details Name: us-gaap_ComprehensiveIncomeNetOfTax Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition Amount of operating dividend income on securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.2) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 + Details Name: us-gaap_DividendIncomeOperating Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)(1)(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details Name: us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 20 -Section 45 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=109238882&loc=d3e38679-109324 + Details Name: us-gaap_IncomeTaxExpenseBenefit Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition Amount of operating dividend and interest income, including amortization and accretion of premiums and discounts, on securities. + References No definition available. + Details Name: us-gaap_InterestAndDividendIncomeSecurities Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition The amount of interest income and other income recognized during the period. Included in this element is interest derived from investments in debt securities, cash and cash equivalents, and other investments which reflect the time value of money or transactions in which the payments are for the use or forbearance of money and other income from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business). + References No definition available. + Details Name: us-gaap_InterestAndOtherIncome Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition Amount after tax and reclassification adjustments of other comprehensive income (loss). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669619-108580 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21463-112644 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 55 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=118951672&loc=d3e1436-108581 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1B -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669625-108580 + Details Name: us-gaap_OtherComprehensiveIncomeLossNetOfTax Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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v3.20.1

LOANS HELD FOR INVESTMENT - Corporation's TDR Activity (Detail) - Entity Loan Modification Program [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Financing Receivable, Troubled Debt Restructuring [Line Items]
Beginning Balance of TDRs	$ 487,997	$ 582,647
New TDRs	23,125	25,459
Increases to existing TDRs (disbursements)	103	1,175
Charge-offs post modification	(2,337)	(2,821)
Foreclosures	(1,611)	(3,643)
Paid-off and partial payments	(9,982)	(13,022)
Ending balance of TDRs	$ 497,295	$ 589,795

X

- Definition Disbursements during the period on existing commitments of TDRs loans. + References No definition available. + Details Name: fbp_FinancingReceivableModificationsIncreasesToExistingTroubledDebtRestructurings Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition Recorded investment in loans that were modified under troubled debt restructurings during the period. + References No definition available. + Details Name: fbp_FinancingReceivableModificationsNewTroubledDebtRestructurings Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition Repayments related to Trouble Debt Restructuring Loans. + References No definition available. + Details Name: fbp_FinancingReceivableModificationsTroubledDebtRestructuringsPaidOrPartialPaid Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition Amount of real estate investments acquired through foreclosure during the period related to troubled debt restructurings. + References No definition available. + Details Name: fbp_ForeclosuresOfTroubledDebtRestructurings Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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v3.20.1

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Reclassification Out of Accumulated Other Comprehensive Income (Loss) (Detail) - Reclassification Out Of Accumulated Other Comprehensive Income [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent	$ (7,879)	$ 0
Reclassification from AOCI, Current Period, Tax	0	0
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent	(7,879)	0
Net gain on sale of investments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent	(8,247)	0
Provsion For Credit Losses [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent	$ 368	$ 0

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v3.20.1

LOANS HELD FOR SALE (Tables)	3 Months Ended
	Mar. 31, 2020
Receivables Held For Sale [Abstract]
Loans Held For Sale Table [Text Block]	The Corporation’s loans held-for-sale portfolio as of the dates indicated was composed of:           March 31, 2020   December 31, 2019               (In thousands)   Residential mortgage loans $ 12,046   $ 39,477

X

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v3.20.1

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2020
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Restricted Stock Activity Under Omnibus Plan	The following table summarizes the restricted stock activity in the first quarter of 2020 under the Omnibus Plan:                 Quarter Ended     March 31, 2020     Number of           shares of     Weighted-Average     restricted     Grant Date     stock     Fair Value             Unvested shares outstanding at beginning of period 644,805   $ 8.51 Granted 851,673     4.08 Vested (184,370)     6.51 Unvested shares outstanding at March 31, 2020 1,312,108   $ 5.91

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v3.20.1

FAIR VALUE - Level 3 Changes in Unrealized Gain Losses (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Available-for-sale Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Included in earnings	$ (368)	$ 0

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v3.20.1

OFFSETTING OF ASSETS AND LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2020
Offsetting [Abstract]
Offsetting Assets [Table Text Block]	Offsetting of Financial Assets and Derivative Assets                                       As of March 31, 2020                                                       Gross Amounts Not Offset in the Statement of Financial Condition                     Net Amounts of Assets Presented in the Statement of Financial Condition                     Gross Amounts of Recognized Assets   Gross Amounts Offset in the Statement of Financial Condition                         Financial Instruments   Cash Collateral                 Net Amount (In thousands)                                   Description                                         Derivatives $ 9   $ -   $ 9   $ -   $ (9)   $ -                                     As of December 31, 2019                                                       Gross Amounts Not Offset in the Statement of Financial Condition                     Net Amounts of Assets Presented in the Statement of Financial Condition                     Gross Amounts of Recognized Assets   Gross Amounts Offset in the Statement of Financial Condition                         Financial Instruments   Cash Collateral                 Net Amount (In thousands)                                   Description                                         Derivatives $ 11   $ -   $ 11   $ -   $ (11)   $ - Securities purchased under agreements to resell   200,000     (200,000)     -     -     -     - Total $ 200,011   $ (200,000)   $ 11   $ -   $ (11)   $ -
Offsetting Liabilities [Table Text Block]	Offsetting of Financial Liabilities and Derivative Liabilities                                       As of March 31, 2020                                                                                           Gross Amounts Not Offset in the Statement of Financial Condition                     Net Amounts of Liabilities Presented in the Statement of Financial Condition                     Gross Amounts of Recognized Liabilities   Gross Amounts Offset in the Statement of Financial Condition                         Financial Instruments   Cash Collateral     (In thousands)           Net Amount                                     Description     Securities sold under agreements to repurchase $ 300,000   $ -   $ 300,000   $ (300,000)   $ -   $ -                                                                         As of December 31, 2019                                                       Gross Amounts Not Offset in the Statement of Financial Condition                     Net Amounts of Liabilities Presented in the Statement of Financial Condition                     Gross Amounts of Recognized Liabilities   Gross Amounts Offset in the Statement of Financial Condition                         Financial Instruments   Cash Collateral                 Net Amount (In thousands)                                   Description     Securities sold under agreements to repurchase $ 300,000   $ (200,000)   $ 100,000   $ (100,000)   $ -   $ -

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v3.20.1

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	May 01, 2020
Cover [Abstract]
Entity Registrant Name	First BanCorp.
Entity Central Index Key	0001057706
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock Shares Outstanding		218,157,639
Entity Emerging Growth Company	false
Entity Small Business	false
Trading Symbol	FBP
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	001-14793
Entity Tax Identification Number	66-0561882
Entity Address Address Line 1	1519 Ponce de León Avenue, Stop 23
Entity Address City Or Town	Santurce
Entity Address Country	PR
Entity Address Postal Zip Code	00908
City Area Code	787
Local Phone Number	729-8200
Document Quarterly Report	true
Security 12b Title	Common Stock ($0.10 par value)
Security Exchange Name	NYSE
Entity Interactive Data Current	Yes
Document Transition Report	false
Entity Incorporation State Country Code	PR

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v3.20.1

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 2,266	$ 43,314
Other comprehensive income:
Unrealized gain on debt securities for which credit losses has been recognized	(176)	9
Provision for credit loss expense	368	0
Reclassification adjustment for net gain included in net income on sales of available-for-sale securities with no credit losses previouly recognized	(8,247)	0
All other unrealized holding gains on available-for-sale securities	50,407	20,501
Other comprehensive income for the period	42,352	20,510
Total comprehensive income	$ 44,618	$ 63,824

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- References No definition available. + Details Name: us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

v3.20.1

LOANS HELD FOR INVESTMENT - Corporation's Aging of Loans Held for Investment Portfolio (Detail) - Loans held for investmet [Member] - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Financing Receivable, Past Due [Line Items]
Total Past Due	$ 438,304	$ 508,378
Current	8,600,643	8,493,827
Total loans held for investment	9,038,947	9,002,205
Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	416,040	488,879
Current	6,687,866	6,639,398
Total loans held for investment	7,103,906	7,128,277
Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	22,264	19,499
Current	1,912,777	1,854,429
Total loans held for investment	1,935,041	1,873,928
30-59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	43,918	55,640
30-59 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	40,215	53,892
30-59 Days Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	3,703	1,748
60-89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	50,650	107,028
60-89 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	48,131	103,691
60-89 Days Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	2,519	3,337
90 days or more Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	343,736	345,710
90 days or more Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	327,694	331,296
90 days or more Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	16,042	14,414
Residential Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Total loans held for investment	2,875,672	2,933,773
Residential Portfolio Segment [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total loans held for investment	2,318,172	2,367,587
Residential Portfolio Segment [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total loans held for investment	557,500	566,186
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	200,918	247,117
Current	2,556,239	2,562,747
Total loans held for investment	2,757,157	2,809,864
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	184,817	231,633
Current	2,016,028	2,013,525
Total loans held for investment	2,200,845	2,245,158
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	16,101	15,484
Current	540,211	549,222
Total loans held for investment	556,312	564,706
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Total loans held for investment	99,000	116,200
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 30-59 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Total loans held for investment	86,800	110,500
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 30-59 Days Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Total loans held for investment	12,200	5,800
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 60-89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	40,047	85,501
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 60-89 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	38,129	83,308
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 60-89 Days Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	1,918	2,193
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 90 days or more Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	160,871	161,616
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 90 days or more Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	146,688	148,325
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 90 days or more Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	14,183	13,291
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	79,722	83,208
Current	38,793	40,701
Total loans held for investment	118,515	123,909
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	79,593	83,079
Current	37,734	39,350
Total loans held for investment	117,327	122,429
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	129	129
Current	1,059	1,351
Total loans held for investment	1,188	1,480
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Total loans held for investment	7,800	7,100
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 30-59 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Total loans held for investment	7,700	6,700
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 30-59 Days Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Total loans held for investment	100	400
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 60-89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	1,956	2,068
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 60-89 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	1,956	2,068
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 60-89 Days Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 90 days or more Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	77,766	81,140
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 90 days or more Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	77,637	81,011
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 90 days or more Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	129	129
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	31,136	27,724
Current	2,205,082	2,203,152
Total loans held for investment	2,236,218	2,230,876
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	27,999	27,078
Current	1,343,429	1,364,335
Total loans held for investment	1,371,428	1,391,413
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	3,137	646
Current	861,653	838,817
Total loans held for investment	864,790	839,463
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	41,290	45,849
Current	1,413,463	1,398,737
Total loans held for investment	1,454,753	1,444,586
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	40,684	44,979
Current	1,038,705	1,034,921
Total loans held for investment	1,079,389	1,079,900
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	606	870
Current	374,758	363,816
Total loans held for investment	375,364	364,686
Commercial Portfolio Segment [Member] | 30-59 Days Past Due [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	4,347	1,785
Commercial Portfolio Segment [Member] | 30-59 Days Past Due [Member] | Commercial And Industrial Sector [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	1,714	1,454
Commercial Portfolio Segment [Member] | 30-59 Days Past Due [Member] | Commercial And Industrial Sector [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	2,633	331
Commercial Portfolio Segment [Member] | 30-59 Days Past Due [Member] | Mortgage Receivable [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	334	0
Total loans held for investment	4,500	6,600
Commercial Portfolio Segment [Member] | 30-59 Days Past Due [Member] | Mortgage Receivable [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	311	0
Total loans held for investment	4,200	6,000
Commercial Portfolio Segment [Member] | 30-59 Days Past Due [Member] | Mortgage Receivable [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	23	0
Total loans held for investment	300	600
Commercial Portfolio Segment [Member] | 60-89 Days Past Due [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	545	105
Commercial Portfolio Segment [Member] | 60-89 Days Past Due [Member] | Commercial And Industrial Sector [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	333	105
Commercial Portfolio Segment [Member] | 60-89 Days Past Due [Member] | Commercial And Industrial Sector [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	212	0
Commercial Portfolio Segment [Member] | 60-89 Days Past Due [Member] | Mortgage Receivable [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	348	3,551
Commercial Portfolio Segment [Member] | 60-89 Days Past Due [Member] | Mortgage Receivable [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	348	2,681
Commercial Portfolio Segment [Member] | 60-89 Days Past Due [Member] | Mortgage Receivable [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	0	870
Commercial Portfolio Segment [Member] | 90 days or more Past Due [Member] | Commercial And Industrial Sector [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	26,244	25,834
Commercial Portfolio Segment [Member] | 90 days or more Past Due [Member] | Commercial And Industrial Sector [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	25,952	25,519
Commercial Portfolio Segment [Member] | 90 days or more Past Due [Member] | Commercial And Industrial Sector [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	292	315
Commercial Portfolio Segment [Member] | 90 days or more Past Due [Member] | Mortgage Receivable [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	40,608	42,298
Commercial Portfolio Segment [Member] | 90 days or more Past Due [Member] | Mortgage Receivable [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	40,025	42,298
Commercial Portfolio Segment [Member] | 90 days or more Past Due [Member] | Mortgage Receivable [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	583	0
Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	9,773	9,887
Current	149,902	101,430
Total loans held for investment	159,675	111,317
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	9,773	9,887
Current	48,740	38,359
Total loans held for investment	58,513	48,246
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Current	101,162	63,071
Total loans held for investment	101,162	63,071
Commercial Portfolio Segment [Member] | Construction Loans [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Total loans held for investment	100	100
Commercial Portfolio Segment [Member] | Construction Loans [Member] | 30-59 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Total loans held for investment	100	100
Commercial Portfolio Segment [Member] | Construction Loans [Member] | 30-59 Days Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Commercial Portfolio Segment [Member] | Construction Loans [Member] | 60-89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	81	105
Commercial Portfolio Segment [Member] | Construction Loans [Member] | 60-89 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	81	105
Commercial Portfolio Segment [Member] | Construction Loans [Member] | 60-89 Days Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Commercial Portfolio Segment [Member] | Construction Loans [Member] | 90 days or more Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	9,692	9,782
Commercial Portfolio Segment [Member] | Construction Loans [Member] | 90 days or more Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	9,692	9,782
Commercial Portfolio Segment [Member] | Construction Loans [Member] | 90 days or more Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Consumer Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Total loans held for investment	2,312,629	2,281,653
Consumer Portfolio Segment [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total loans held for investment	2,276,404	2,241,131
Consumer Portfolio Segment [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total loans held for investment	36,225	40,522
Consumer Portfolio Segment [Member] | Auto loans [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	42,248	57,192
Current	1,120,804	1,077,663
Total loans held for investment	1,163,052	1,134,855
Consumer Portfolio Segment [Member] | Auto loans [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	40,864	55,487
Current	1,095,410	1,048,873
Total loans held for investment	1,136,274	1,104,360
Consumer Portfolio Segment [Member] | Auto loans [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	1,384	1,705
Current	25,394	28,790
Total loans held for investment	26,778	30,495
Consumer Portfolio Segment [Member] | Auto loans [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	24,891	36,433
Consumer Portfolio Segment [Member] | Auto loans [Member] | 30-59 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	23,870	35,163
Consumer Portfolio Segment [Member] | Auto loans [Member] | 30-59 Days Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	1,021	1,270
Consumer Portfolio Segment [Member] | Auto loans [Member] | 60-89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	2,430	8,539
Consumer Portfolio Segment [Member] | Auto loans [Member] | 60-89 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	2,193	8,267
Consumer Portfolio Segment [Member] | Auto loans [Member] | 60-89 Days Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	237	272
Consumer Portfolio Segment [Member] | Auto loans [Member] | 90 days or more Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	14,927	12,220
Consumer Portfolio Segment [Member] | Auto loans [Member] | 90 days or more Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	14,801	12,057
Consumer Portfolio Segment [Member] | Auto loans [Member] | 90 days or more Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	126	163
Consumer Portfolio Segment [Member] | Finance Leases [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	6,910	9,257
Current	422,236	405,275
Total loans held for investment	429,146	414,532
Consumer Portfolio Segment [Member] | Finance Leases [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	6,910	9,257
Current	422,236	405,275
Total loans held for investment	429,146	414,532
Consumer Portfolio Segment [Member] | Finance Leases [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Current	0	0
Total loans held for investment	0	0
Consumer Portfolio Segment [Member] | Finance Leases [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	4,418	6,501
Consumer Portfolio Segment [Member] | Finance Leases [Member] | 30-59 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	4,418	6,501
Consumer Portfolio Segment [Member] | Finance Leases [Member] | 30-59 Days Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Consumer Portfolio Segment [Member] | Finance Leases [Member] | 60-89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	567	1,402
Consumer Portfolio Segment [Member] | Finance Leases [Member] | 60-89 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	567	1,402
Consumer Portfolio Segment [Member] | Finance Leases [Member] | 60-89 Days Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Consumer Portfolio Segment [Member] | Finance Leases [Member] | 90 days or more Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	1,925	1,354
Consumer Portfolio Segment [Member] | Finance Leases [Member] | 90 days or more Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	1,925	1,354
Consumer Portfolio Segment [Member] | Finance Leases [Member] | 90 days or more Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Consumer Portfolio Segment [Member] | Personal Loans [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	6,503	7,620
Current	266,818	267,255
Total loans held for investment	273,321	274,875
Consumer Portfolio Segment [Member] | Personal Loans [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	6,249	7,615
Current	266,647	266,478
Total loans held for investment	272,896	274,093
Consumer Portfolio Segment [Member] | Personal Loans [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	254	5
Current	171	777
Total loans held for investment	425	782
Consumer Portfolio Segment [Member] | Personal Loans [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	3,980	4,008
Consumer Portfolio Segment [Member] | Personal Loans [Member] | 30-59 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	3,980	4,008
Consumer Portfolio Segment [Member] | Personal Loans [Member] | 30-59 Days Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Consumer Portfolio Segment [Member] | Personal Loans [Member] | 60-89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	771	2,084
Consumer Portfolio Segment [Member] | Personal Loans [Member] | 60-89 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	771	2,084
Consumer Portfolio Segment [Member] | Personal Loans [Member] | 60-89 Days Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Consumer Portfolio Segment [Member] | Personal Loans [Member] | 90 days or more Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	1,752	1,528
Consumer Portfolio Segment [Member] | Personal Loans [Member] | 90 days or more Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	1,498	1,523
Consumer Portfolio Segment [Member] | Personal Loans [Member] | 90 days or more Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	254	5
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	8,890	9,403
Current	275,184	282,887
Total loans held for investment	284,074	292,290
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	8,890	9,403
Current	275,184	282,887
Total loans held for investment	284,074	292,290
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Current	0	0
Total loans held for investment	0	0
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	2,019	2,896
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | 30-59 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	2,019	2,896
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | 30-59 Days Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | 60-89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	2,358	2,096
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | 60-89 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	2,358	2,096
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | 60-89 Days Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | 90 days or more Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	4,513	4,411
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | 90 days or more Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	4,513	4,411
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | 90 days or more Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Consumer Portfolio Segment [Member] | Other Loans [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	10,914	11,121
Current	152,122	153,980
Total loans held for investment	163,036	165,101
Consumer Portfolio Segment [Member] | Other Loans [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	10,261	10,461
Current	143,753	145,395
Total loans held for investment	154,014	155,856
Consumer Portfolio Segment [Member] | Other Loans [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	653	660
Current	8,369	8,585
Total loans held for investment	9,022	9,245
Consumer Portfolio Segment [Member] | Other Loans [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	3,929	4,017
Consumer Portfolio Segment [Member] | Other Loans [Member] | 30-59 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	3,903	3,870
Consumer Portfolio Segment [Member] | Other Loans [Member] | 30-59 Days Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	26	147
Consumer Portfolio Segment [Member] | Other Loans [Member] | 60-89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	1,547	1,577
Consumer Portfolio Segment [Member] | Other Loans [Member] | 60-89 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	1,395	1,575
Consumer Portfolio Segment [Member] | Other Loans [Member] | 60-89 Days Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	152	2
Consumer Portfolio Segment [Member] | Other Loans [Member] | 90 days or more Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	5,438	5,527
Consumer Portfolio Segment [Member] | Other Loans [Member] | 90 days or more Past Due [Member] | Puerto Rico and Virgin Islands regions [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	4,963	5,016
Consumer Portfolio Segment [Member] | Other Loans [Member] | 90 days or more Past Due [Member] | Florida region [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	$ 475	$ 511

X

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v3.20.1

INVESTMENT SECURITIES - ACL on Debt Securities Available-for-Sale (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Jan. 01, 2020
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items]
Beginning Balance	$ 0
Ending Balance	368
ASC 326
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items]
Ending Balance	300
MBS [Member]
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items]
Ending Balance	368
MBS [Member] | Private label [Member]
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items]
Beginning Balance	0
Ending Balance	368
MBS [Member] | Private label [Member] | ASC 326 | Cumulative Effect Period Of Adoption Adjustment [Member]
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items]
Impact of ASC 326 on Available-for-sale securities		$ 0
Available-for-sale Securities [Member] | MBS [Member] | Private label [Member]
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items]
Provision for credit loss expense	$ 368

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v3.20.1

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES [Text Block]	NOTE 1 – BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES   The Consolidated Financial Statements (unaudited) of First BanCorp. (the “Corporation”) have been prepared in conformity with the accounting policies stated in the Corporation’s Audited Consolidated Financial Statements included in the 2019 Annual Report on Form 10-K and accounting policies affected by the adoption, on January 1, 2020, of Accounting Standards Update No. (“ASU”) 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, as amended (“ASC 326”), as further described below. Certain information and note disclosures normally included in the financial statements prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) have been condensed or omitted from these statements pursuant to the rules and regulations of the SEC and, accordingly, these financial statements should be read in conjunction with the Audited Consolidated Financial Statements of the Corporation for the year ended December 31, 2019, which are included in the 2019 Annual Report on Form 10-K. All adjustments (consisting only of normal recurring adjustments) that are, in the opinion of management, necessary for a fair presentation of the statement of financial position, results of operations and cash flows for the interim periods have been reflected. All significant intercompany accounts and transactions have been eliminated in consolidation.   The results of operations for the quarter ended March 31, 2020 are not necessarily indicative of the results to be expected for the entire year.   Risks and Uncertainties related to COVID-19   On March 11, 2020, the outbreak of COVID-19 (coronavirus) caused by a novel strain of the coronavirus was recognized as a pandemic by the World Health Organization, and since then has widely spread to many countries, including in the markets in which the Corporation operates. The COVID-19 pandemic has severely restricted the level of economic activity in the Corporation’s markets. In response to the COVID-19 pandemic, the Puerto Rico’s Governor issued a stay-at-home order on March 15, 2020, which she subsequently extended until May 3, 2020. In addition to mandating that every citizen stay at home except for certain essential activities, the order set out a nightly curfew and a lockdown of non-essential businesses. Since March 31, 2020, the governor instituted additional restrictive measures, including limiting travel by car, the use of protective equipment, such as masks, the maintenance of a distance of at least six feet between citizens, and a curfew between 7 p.m. to 5 a.m. Although some of these restrictions have been modified, the full lockdown of non-essential businesses continued until May 3, 2020 and the stay-at-home order and the curfew was extended until May 25, 2020. On May 1, 2020, Puerto Rico’s Governor announced a gradual reopening of the economy, allowing the reopening on May 4, 2020 of sectors such as mortgage financial services, insurance, and professional services including lawyers, engineers, accountants and dental offices. On May 11, 2020, the construction and manufacturing sectors will be allowed to resume operations. Other sectors, such as retail trade and auto sales, are expected to be allowed to reopen in mid to late May 2020, depending on how the COVID-19 trends in Puerto Rico cases develop over the upcoming weeks. As of May 2, 2020, 1,757 people in 73 municipalities in Puerto Rico had tested positive for COVID-19 and 95 people’ deaths were related to the illness, according to data provided by the Puerto Rico government.   The Corporation’s businesses in the other jurisdictions in which it operates have also been adversely affected. On March 26, 2020 the Florida Governor issued a stay-at-home order, and the state is expected to reopen essential operations through a phase-in process beginning on May 4, 2020. Additionally, in the U.S. Virgin Islands, the government issued a stay-at-home order on March 23, 2020, and the territory announced a plan for a phased reopening of non-essential businesses beginning on May 4, 2020.   The Corporation’s business, financial condition and results of operations generally rely upon the ability of the Corporation’s borrowers to repay their loans, the value of collateral underlying the Corporation’s secured loans, and demand for loans and other products and services the Corporation offers, which are highly dependent on the business environment in the Corporation’s primary markets where it operates. Governments globally intervened with fiscal policy to mitigate the impact, including the Coronavirus Aid, Relief, and Economic Security (CARES) Act in the U.S., which aimed to provide economic relief to businesses and individuals. Some of these provisions may improve the ability of impacted borrowers to pay their loans, including direct cash payments to eligible taxpayers below specified income limits, including Puerto Rico residents, expanded unemployment insurance benefits and eligibility, and relief designed to prevent layoffs and business closures at small businesses. In addition, the Puerto Rico Government and the PROMESA oversight board has allocated more than $900 million aimed to stimulate the Puerto Rico economy and provide cash flow relief to those affected by the COVID-19 pandemic.     The COVID-19 pandemic, and governmental, regulatory authorities, and societal responses have also affected the Corporation’s financial results. The COVID-19 pandemic and its associated impacts on trade (including supply chains and export levels), travel, underemployment and unemployment, consumer spending, residential and commercial construction and other economic activities has resulted in less economic activity, lower equity market valuations and significant volatility and disruption in financial markets. For instance, on March 3, 2020, the Federal Reserve reduced the target federal funds rate by 50 basis points, followed by an additional reduction of 100 basis points on March 16, 2020. These reductions in interest rates and economic uncertainties, as a result of the spread of COVID-19, have adversely affected and might further adversely affect the Corporation’s results of operations. The Corporation may experience other financial impacts, though such potential impacts are unknown at this time.   Financial results for the quarter ended March 31, 2020 included the effect of a reserve build of $59.8 million (i.e., the amount by which the provision for credit losses of $77.4 million exceeds net charge-offs of $17.6 million), driven by the effect of the COVID-19 pandemic on forecasted economic conditions considered for the determination of the Allowance for Credit Losses (“ACL”), as further discussed below. In addition to the impact of COVID-19 on the Corporation’s ACL, the COVID-19 pandemic and the various stay-at-home and lockdown orders have resulted in a reduction of the Corporation’s transaction fee income, such as that from credit and debit cards, automated teller machines (ATMs), and point-of-sale transactions, as well as the Corporation’s volume of loan originations and closings. In working with borrowers affected by the COVID-19 pandemic, the Corporation implemented payment deferral programs to alleviate the hardships being experienced by the Corporation’s borrowers. The payment deferral programs, which the Corporation implemented in March 2020, provided deferred repayment arrangements across-the-board up to June 30, 2019 to consumer borrowers (i.e., residential mortgage, personal loans, auto loans, finance leases, small loans, and credit cards) who qualify for the program based, among other things, on the delinquency status of the loan on March 16, 2019, and who did not make their payment corresponding to the month of March, with the possibility of extension up to August 31, 2020, if needed. For commercial loans, any request for payment deferral is analyzed on a case by case basis.As of May 7, 2020, the Corporation had deferred repayment arrangements related to approximately 7,064 residential mortgage loans totaling $931.5 million, 93,629 consumer loans totaling $1.0 billion, and 741 commercial and construction loans totaling $1.8 billion. In accordance with interagency guidance issued in March 2020, these short-term deferrals are not considered troubled debt restructurings (“TDRs”) unless the borrower was previously experiencing financial difficulty and the concession granted was considered significant in relation to the exposure, based on criteria established in Accounting Standards Codification (“ASC”) Subtopic 310-40. In addition, the risk-rating on COVID-19 modified loans did not change, and these loans will not be considered past due after the deferral period if the borrowers resume their scheduled payments. The credit quality of these loans will be reevaluated after the deferral period ends.   In addition, as a certified Small Business Administration (“SBA”) lender, the Corporation is participating in the SBA Paycheck Protection Program (“PPP”) to help provide loans to the Corporation’s small business customers to provide them with additional working capital. As of May 7, 2020, the Corporation has received approval from the SBA for 3,792 applications received since April 3, 2020, the first date on which small business customers could apply for such loans, totaling approximately $350.6 million, of which approximately $313.2 million has already been funded.   As of March 31, 2020, the Corporation’s and the Bank’s capital ratios were well in excess of all regulatory requirements and the Corporation maintains high liquidity levels with the cash and liquid securities total assets ratio exceeding 17.5%, compared to 15.8% as of December 31, 2019. As of May 7, 2020, the Corporation has approximately $383.7 million in available unused lines at the Federal Home Loan Bank, and the Primary Credit FED Discount Window Program has been activated as an alternate source of liquidity with approximately $973.2 million of availability, if needed.   While most industries have and will continue to experience adverse impacts as a result of the COVID-19 pandemic in the immediate future, higher increases in the allowance for credit losses were made for loans in the accommodation, retail real estate, and transportation industries. The exposure to these industries represents approximately 28% of the total construction and commercial loan portfolio as of March 31, 2020. We continue to monitor unfunded commitments through the pandemic, for evidence of increased credit exposure as borrowers utilize these lines for liquidity, however, the amount of draws has not increased significantly due to the COVID-19 pandemic.   The ultimate extent of the impact of the COVID-19 pandemic on the Corporation’s business, financial condition and results of operations is currently uncertain and will depend on various developments and other factors, including, among others, the duration and scope of the pandemic, as well as governmental, regulatory and private sector responses to the pandemic, and the associated impacts on the economy, financial markets and our clients, employees and vendors.     Adoption of New Accounting Requirements and Recently Issued but Not Yet Effective Accounting Requirements   Accounting for Financial Instruments – Credit Losses On January 1, 2020, the Corporation adopted ASC 326, which replaces the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss (“CECL”) methodology to estimate the allowance for credit losses (the “ACL”) for the remaining estimated life of certain financial assets. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including loans held for investment and held-to-maturity debt securities. It also applies to off-balance sheet credit exposures not accounted for as insurance (e.g., unfunded loan commitments, standby letters of credit, financial guarantees, and other similar instruments). In addition, ASC 326 made changes to the accounting for available-for-sale debt securities. One such change is to require credit losses to be presented as an allowance rather than as a write-down on available-for-sale debt securities that management does not intend to sell or believes that it is more likely than not they will not be required to sell. The Corporation adopted ASC 326 using the modified retrospective method for financial assets measured at amortized cost, including loans held for investment and held-to-maturity debt securities, and off-balance sheet credit exposures. Results for reporting periods beginning after January 1, 2020 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP.                   The following table illustrates the transition adjustment impact of ASC 326:                   (In thousands) January 1, 2020     ACL Under ASC 326     Pre-ASC 326     Impact of ASC 326     Adoption Date     Adoption     Adoption                   Assets:                 ACL on debt securities held to maturity $ 8,134   $ -   $ 8,134                   ACL on Loans and Finance Leases                 Residential mortgage loans $ 94,643   $ 44,806   $ 49,837 Commercial mortgage loans   19,888     39,194     (19,306) Commercial and Industrial loans   29,929     15,198     14,731 Construction loans   3,167     2,370     797 Consumer loans   88,677     53,571     35,106 Total ACL on loans and finance leases   236,304     155,139     81,165                   Liabilities:                 ACL on off-balance sheet credit exposure $ 3,922   $ -   $ 3,922                   Pre-tax effect in beginning retained earnings $ 248,360   $ 155,139   $ 93,221                   Balance sheet reclassification (1)               434                   Tax effect             $ (31,333)                   After-tax effect in beginning retained earnings             $ 62,322                   Reflects the effect of the release of the excess of the previously-established ACL for loans purchased with credit deterioration (“PCD”) over the ACL determined for such loans following the CECL methodology, which resulted in a corresponding decrease to loans. The Corporation adopted ASC 326 using the prospective transition approach for PCD loans that were previously classified as purchased credit impaired (“PCI”) loans and accounted for under ASC Topic 310-30 (ASC 310-30). As allowed by ASC 326, the Corporation elected to maintain pools of loans accounted for under ASC 310-30 as “units of accounts,” conceptually treating each pool as a single asset. As of March 31, 2020, such PCD loans consisted of $131.5 million of residential mortgage loans and $2.5 million of commercial mortgage loans acquired by the Corporation as part of previously completed asset acquisitions. These previous transactions include a transaction closed on February 27, 2015, in which FirstBank acquired 10 Puerto Rico branches of Doral Bank, acquired certain assets, including PCD loans, and assumed deposits, through an alliance with Banco Popular of Puerto Rico, which was the successful lead bidder with the FDIC on the failed Doral Bank, as well as other co-bidders, and the acquisition from Doral Financial in the first quarter of 2014 of all of its rights, title and interest in first and second residential mortgage loans in full satisfaction of secured borrowings owed by such entity to FirstBank. As the Corporation is electing to maintain pools of units of account for loans previously accounted for under ASC 310-30, the Corporation is not able to remove loans from the pools until they are paid off, written off or sold (consistent with the previous practice), but is required to follow ASC 326 for purposes of ACL. Regarding interest income recognition, the prospective transition approach for PCD loans was applied at a pool level, which froze the effective interest rate of the pools as of January 1, 2020. According to regulatory guidance, the determination of nonaccrual or accrual status for PCD loans that the Corporation has elected to maintain in previously existing pools pursuant to the policy election right upon adoption of ASC 326 should be made at the pool level, not the individual asset level. In addition, the guidance provides that the Corporation can continue accruing interest and not report the PCD loans as being in nonaccrual status if the following criteria are met: (i) the Corporation can reasonably estimate the timing and amounts of cash flows expected to be collected, and (ii) the Corporation did not acquire the asset primarily for the rewards of ownership of the underlying collateral, such as use of collateral in operations or improving the collateral for resale. Thus, the Corporation continues to exclude these pools of PCD loans from nonaccrual loan statistics. In accordance with ASC 326, the Corporation did not reassess whether modifications to individual acquired loans accounted for within pools were TDR as of the date of adoption.   The Corporation adopted ASC 326 using the prospective transition approach for debt securities for which other-than-temporary impairment (“OTTI”) had been recognized prior to January 1, 2020, such as available-for-sale private label mortgage-backed securities (“MBS”). As a result, the amortized cost basis for such debt securities remains the same before and after the effective date of ASC 326. The effective interest rate on these debt securities was not changed. Amounts previously recognized in accumulated other comprehensive income (“OCI”) as of January 1, 2020 relating to improvements in cash flows expected to be collected will be accreted into income over the remaining life of the asset. Recoveries of amounts previously written off relating to improvements in cash flows after January 1, 2020 will be recorded in earnings when received.   Significant Accounting Policies affected by the adoption of ASC 326   Investment securities: The Corporation classifies its investments in debt and equity securities into one of four categories:   Held-to-maturity — Securities that the entity has the intent and ability to hold to maturity. These securities are carried at amortized cost. The Corporation may not sell or transfer held-to-maturity securities without calling into question its intent to hold other debt securities to maturity, unless a nonrecurring or unusual event that could not have been reasonably anticipated has occurred.   Trading — Securities that are bought and held principally for the purpose of selling them in the near term. These securities are carried at fair value, with unrealized gains and losses reported in earnings. As of March 31, 2020 and December 31, 2019, the Corporation did not hold investment securities for trading purposes.   Available-for-sale — Securities not classified as held-to-maturity or trading. These securities are carried at fair value, with unrealized holding gains and losses, net of deferred taxes, reported in OCI as a separate component of stockholders’ equity. The unrealized holding gains and losses, do not affect earnings until they are realized, or an ACL is recorded.   Equity securities — Equity securities that do not have readily available fair values are classified as equity securities in the consolidated statements of financial condition. These securities are stated at the lower of cost or realizable value. This category is principally composed of FHLB stock that is owned by the Corporation to comply with FHLB regulatory requirements. The realizable value of the stock equals its cost. Also included in this category are marketable equity securities held at fair value with changes in unrealized gains or losses recorded through earnings pursuant to the requirements of ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities.   Premiums and discounts on debt securities are amortized as an adjustment to interest income on investments over the life of the related securities under the interest method without anticipating prepayments, except for MBS where prepayments are anticipated. Premiums on callable debt securities, if any, are amortized to the earliest call date. Purchases and sales of securities are recognized on a trade-date basis. Gains and losses on sales are recorded on the trade date and determined using the specific identification method.   A debt security is placed on nonaccrual status at the time any principal or interest payments become 90 days delinquent. Interest accrued but not received for a security placed on non-accrual is reversed against interest income. No debt security is in nonaccrual status as of March 31, 2020 and December 31, 2019.   Allowance for Credit Losses – Held-to-Maturity Debt Securities: The Corporation measures expected credit losses on held-to-maturity securities by major security type. As of March 31, 2020, the held-to-maturity securities portfolio consisted of Puerto Rico municipal bonds totaling $138.5 million. Approximately 70% of the held-to-maturity municipal bonds were issued by three of the largest municipalities in Puerto Rico. The vast majority of revenues of these three municipalities is independent of the Puerto Rico central government. These obligations typically are not issued in bearer form, nor are they registered with the SEC, and are not rated by external credit agencies. In most cases, these bonds have priority over the payment of operating costs and expenses of the municipality, which are required by law to levy special property taxes in such amounts as are required for the payment of all of their respective general obligation bonds and loans. Accrued interest receivable on held-to-maturity debt securities totaled $1.9 million at March 31, 2020 ($3.9 million as of December 31, 2019) and is excluded from the estimate of credit losses.   The ACL for the held-to-maturity Puerto Rico municipal bonds ($9.3 million as of March 31, 2020) considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. These financing arrangements with Puerto Rico municipalities were issued in bond form and accounted for as securities but underwritten as loans with features that are typically found in commercial loans. Accordingly, similar to commercial loans, an internal risk rating (i.e., pass, special mention, substandard, doubtful, loss) is assigned to each bond at the time of issuance and monitored on a continuous basis with a formal assessment completed, at a minimum, on a quarterly basis. The ACL for held-to-maturity Puerto Rico municipal bonds is determined based on the product of a cumulative probability of default (PD) and loss given default (LGD), and the amortized cost basis of each bond over its remaining expected life. PD estimates represent the point-in-time as of which the PD is developed, updated quarterly based on, among other things, the payment performance experience, financial performance and market value indicators, and current and forecasted relevant forward-looking macroeconomic variables over the expected life of the bonds to determine a lifetime term structure PD curve. LGD estimates are determined based on, among other things, historical charge-off events and recovery payments (if any), government sector historical loss experience, as well as relevant current and forecasted macroeconomic expectations of variables, such as unemployment rates, interest rates, and market risk factors based on industry performance, to determine a lifetime term structure LGD curve. Under this approach, all future periods losses for each instrument are calculated using the PDs and LGDs loss rates derived from the term structure curves applied to the amortized cost basis of each bond. For the relevant macroeconomic expectations of variables, the methodology considers an initial forecast period (“reasonable and supportable period”) of 2 years and a reversion period of up to 3 years, utilizing a straight-line approach and reverting back to the historical macroeconomic mean. After the reversion period, a historical loss forecast period covering the remaining contractual life is used based on the changes in key historical economic variables during representative historical expansionary and recessionary periods.   Refer to Note 5 - Investment Securities for additional information about reserve balances for held-to-maturity debt securities, activity during the period, and information about changes in circumstances that caused changes in the ACL for held-to-maturity debt securities during the first quarter of 2020.   Allowance for Credit Losses – Available-for-Sale Debt Securities: For available-for-sale debt securities in an unrealized loss position, the Corporation first assesses whether it intends to sell, or it is more likely than not that it will be required to sell, the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security’s amortized cost basis is written off to fair value through income. For available-for-sale debt securities that do not meet the aforementioned criteria, the Corporation evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, management considers the cash position of the issuer and its cash and capital generation capacity, which could increase or diminish the issuer’s ability to repay its bond obligations, the extent to which the fair value is less than the amortized cost basis, any adverse change to the credit conditions and liquidity of the issuer, taking into consideration the latest information available about the financial condition of the issuer, credit ratings, the failure of the issuer to make scheduled principal or interest payments, recent legislation and government actions affecting the issuer’s industry, and actions taken by the issuer to deal with the economic climate. The Corporation also takes into consideration changes in the near-term prospects of the underlying collateral of a security, if any, such as changes in default rates, loss severity given default, and significant changes in prepayment assumptions and the level of cash flows generated from the underlying collateral, if any, supporting the principal and interest payments on the debt securities. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security is compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an ACL is recorded for the credit loss, limited by the amount by which the fair value is less than the amortized cost basis. Any impairment that has not been recorded through an ACL is recognized in OCI.   Changes in the ACL are recorded as provision for (or reversal of) credit loss expense. Losses are charged against the allowance when management believes the uncollectibility of an available-for-sale security is confirmed or when either of the criteria regarding intent or requirement to sell is met.     The ACL for available-for-sale securities as of March 31, 2020 amounted to $0.3 million. Available-for-sale debt securities held by the Corporation at quarter-end primarily consisted of securities issued by U.S. government-sponsored entities (“GSEs”), private label MBS, and certain bonds issued by the Puerto Rico Housing Finance Authority (“PRHFA”), a government instrumentality of the Commonwealth of Puerto Rico. Given the explicit and implicit guarantees provided by the U.S. federal government, the Corporation believes the credit risk in securities issued by the GSEs is low. The Corporation’s credit loss-impairment assessment was concentrated on private label MBS and PRHFA debt securities. For further information, including the methodology and assumptions used for the discounted cash flow analyses performed on private label MBS, refer to Notes 5 – Investment Securities and Note 24 – Fair Value to the consolidated financial statements. Accrued interest receivable on available-for-sale debt securities totaled $5.6 million as of March 31, 2020 ($5.5 million as of December 31, 2019) and is excluded from the estimate of credit losses.   Loans Held for Investment: Loans that the Corporation has the ability and intent to hold for the foreseeable future are classified as held for investment and are reported at amortized cost, net of the allowance for credit losses. The substantial majority of the Corporation’s loans are classified as held for investment. Amortized cost is the principal outstanding balance, net of unearned interest, cumulative charge-offs, unamortized deferred origination fees and costs, and unamortized premiums and discounts. Credit card loans are reported at their outstanding unpaid principal balance plus uncollected billed interest and fees net of such amounts deemed uncollectible. Accrued interest receivable on loans totaled $40.0 million as of March 31, 2020 ($39.1 million as of December 31, 2019), is reported as part of accrued interest receivable on loans and investment securities in the consolidated statements of financial condition, and is excluded from the estimate of credit losses. Interest income is accrued on the unpaid principal balance. Fees collected and costs incurred in the origination of new loans are deferred and amortized using the interest method or a method that approximates the interest method over the term of the loan as an adjustment to interest yield. Unearned interest on certain personal loans, auto loans and finance leases and discounts and premiums are recognized as income under a method that approximates the interest method. When a loan is paid-off or sold, any unamortized net deferred fee (cost) is credited (charged) to income.   Nonaccrual and Past-Due Loans - Loans on which the recognition of interest income has been discontinued are designated as nonaccrual. Loans are classified as nonaccrual when they are 90 days past due for interest and principal, with the exception of residential mortgage loans guaranteed by the Federal Housing Administration (the “FHA”), the Veterans Administration (the “VA”) or the PRHFA and credit card loans. It is the Corporation’s policy to report delinquent mortgage loans insured by the FHA, or guaranteed by the VA or the PRHFA, as loans past due 90 days and still accruing as opposed to nonaccrual loans since the principal repayment is insured. However, the Corporation discontinues the recognition of income relating to FHA/VA loans when such loans are over 15 months delinquent, taking into consideration the FHA interest curtailment process, and whether PRHFA loans are over 90 days delinquent. Credit card loans continue to accrue finance charges and fees until charged off at 180 days. Loans generally may be placed on nonaccrual status prior to when required by the policies described above when the full and timely collection of interest or principal becomes uncertain (generally based on an assessment of the borrower’s financial condition and the adequacy of collateral, if any). When a loan is placed on nonaccrual status, any accrued but uncollected interest income is reversed and charged against interest income and amortization of any net deferred fees is suspended. The amount of accrued interest reversed against interest income totaled $0.5 million for the quarter ended March 31, 2020. Interest income on nonaccrual loans is recognized only to the extent it is received in cash. However, when there is doubt regarding the ultimate collectability of loan principal, all cash thereafter received is applied to reduce the carrying value of such loans (i.e., the cost recovery method). Under the cost-recovery method, interest income is not recognized until the loan balance is reduced to zero. Generally, the Corporation returns a loan to accrual status when all delinquent interest and principal becomes current under the terms of the loan agreement, or after a sustained period of repayment performance (6 months) and the loan is well secured and in the process of collection, and full repayment of the remaining contractual principal and interest is expected. Regarding interest income recognition for PCD loans, the prospective transition approach for PCD assets required by ASC 326 was applied at a pool level, which froze the effective interest rate of the pools as of January 1, 2020. PCD loan pools accounted for as a single unit of accounting are not reported as nonaccrual as long as the Corporation is able to reasonably estimate the timing and amounts of cash flows expected to be collected. Loans that are past due 30 days or more as to principal or interest are considered delinquent, with the exception of residential mortgage, commercial mortgage, and construction loans, which are considered past due when the borrower is in arrears on two or more monthly payments.     Charge-off of Uncollectible Loans - Net charge-offs consist of the unpaid principal balances of loans held for investment that the Corporation determines are uncollectible, net of recovered amounts. The Corporation records charge-offs as a reduction to the allowance for credit losses and subsequent recoveries of previously charged-off amounts are credited to the allowance for credit losses. Collateral dependent loans in the construction, commercial mortgage, and commercial and industrial loan portfolios are charged off to their net realizable value (fair value of collateral, less estimated costs to sell) when loans are considered to be uncollectible. Within the consumer loan portfolio, auto loans and finance leases are reserved once they are 120 days delinquent and are charged off to their estimated net realizable value when the collateral deficiency is deemed uncollectible (i.e., when foreclosure/repossession is probable) or when the loan is 365 days past due. Within the other consumer loan portfolio, closed-end loans are charged off when payments are 120 days in arrears, except small personal loans. Open-end (revolving credit) consumer loans, including credit card loans, and small personal loans are charged off when payments are 180 days in arrears. On a quarterly basis, residential mortgage loans that are 180 days delinquent are reviewed and charged-off, as needed, to the fair value of the underlying collateral. Generally, all loans may be charged off or written down to the fair value of the collateral prior to the application of the policies described above if a loss-confirming event has occurred. Loss-confirming events include, but are not limited to, bankruptcy (unsecured), continued delinquency, or receipt of an asset valuation indicating a collateral deficiency when the asset is the sole source of repayment.   Troubled Debt Restructurings - A restructuring of a loan constitutes a TDR if the creditor, for economic or legal reasons related to the debtor’s financial difficulties, grants a concession to the debtor that it would not otherwise consider. TDR loans are classified as either accrual or nonaccrual loans. Loans in accrual status may remain in accrual status when their contractual terms have been modified in a TDR if the loans had demonstrated performance prior to the restructuring and payment in full under the restructured terms is expected. Otherwise, loans on nonaccrual and restructured as a TDR will remain on nonaccrual status until the borrower has proven the ability to perform under the modified structure, generally for a minimum of six months, and there is evidence that such payments can, and are likely to, continue as agreed.   The Corporation removes loans from TDR classification, consistent with authoritative accounting guidance that permits the removal of a loan from the TDR classification in years following the modification, only when the following two circumstances are met:    The loan is in compliance with the terms of the restructuring agreement; and    The loan yields a market interest rate at the time of the restructuring. In other words, the loan was restructured with an interest rate equal to or greater than what the Corporation would have been willing to accept at the time of the restructuring for a new loan with comparable risk.   If both of the conditions are met, the loan can be removed from the TDR classification in calendar years after the year in which the restructuring took place. A loan that had previously been modified in a TDR and is subsequently refinanced under then-current underwriting standards at a market rate with no concessionary terms is accounted for as a new loan and is no longer reported as a TDR. The allowance for credit losses on a TDR loan is generally measured using a discounted cash flow method, as further explained below, where the expected future cash flows are discounted at the rate of the loan prior to the restructuring. For credit cards, personal loans, and nonaccrual auto loans and finance leases modified in a TDR, the ACL is measured using the same methodologies as those used for all other loans in those portfolios.   Collateral dependent loans - The Corporation elected the practical expedient for loans for which the repayment is expected to be provided substantially through the operation or sale of the collateral when the borrower is experiencing financial difficulties based on the Corporation’s assessment as of the reporting date. Accordingly, when the Corporation determines that foreclosure is probable, expected credit losses on collateral dependent loans are based on the fair value of the collateral at the reporting date, adjusted for undiscounted selling costs as appropriate.   Loans individually evaluated for credit loss determination - Loans are individually evaluated for purposes of the ACL determination when, based upon current information and events, including consideration of internal credit risk ratings, the Corporation assesses that it is probable that it will be unable to collect all amounts due (including principal and interest) according to the contractual terms of the loan agreement, primarily collateral dependent commercial and construction loans, or loans that have been modified or are reasonably expected to be modified in a TDR (except for credit cards, personal loans and nonaccrual auto loans). The Corporation individually evaluates loans having balances of $500 thousand or more and with the aforementioned conditions in the construction, commercial mortgage, and commercial and industrial portfolios. The Corporation also evaluates individually for ACL purposes certain residential mortgage loans and home equity lines of credit with high delinquency levels. Interest income recognition on loans individually evaluated for ACL determination is recognized based on the Corporation’s policy for recognizing interest on accrual and nonaccrual loans.   Allowance for credit losses – Loans: The ACL for loans and finance leases is a valuation account that is deducted from the loans’ amortized cost basis to present the net amount expected to be collected on loans. Loans are charged-off against the allowance when management believes the uncollectibility of a loan balance is confirmed. Expected recoveries do not exceed the aggregate of amounts previously charged-off.   The Corporation estimates the allowance using relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Historical credit loss experience is a significant input for the estimation of expected credit losses, as well as adjustments to historical loss information made for differences in current loan-specific risk characteristics such as difference in underwriting standards, portfolio mix, delinquency level, or term. Additionally, the Corporation’s assessment involves evaluating key factors, which include credit and macroeconomic indicators, such as changes in unemployment rates, property values, and other relevant factors, to account for current and forecasted market conditions that are likely to cause estimated credit losses over the life of the loans to differ from historical credit losses. Expected credit losses are estimated over the contractual term of the loans, adjusted by prepayments when appropriate. The contractual term excludes expected extensions, renewals, and modifications unless either of the following applies: the Corporation has a reasonable expectation at the reporting date that a TDR will be executed with an individual borrower or the extension or renewal options are included in the original or modified contract at the reporting date and are not unconditionally cancellable by the Corporation.   The ACL is primarily measured based on a PD/LGD modeled approach, or individually for collateral dependent loans and certain TDR loans. The Corporation evaluates the need for changes to the ACL by portfolio segments and classes of loans within certain of those portfolio segments. Factors such as the credit risk inherent in a portfolio and how the Corporation monitors the related quality, as well as the estimation approach to estimate credit losses, were considered in the determination of such portfolio segments and classes. The Corporation has identified the following portfolio segments and measures the ACL using the following methods:   Residential mortgage – Residential mortgage loans are loans secured by residential real property together with the right to receive the payment of principal and interest on the loan. The majority of the Corporation’s residential loans are first lien closed-end loans secured by 1-4 single-family residential properties. As of March 31, 2020, the Corporation’s outstanding balance of residential mortgage in the Puerto Rico and Virgin Islands regions were fixed-rate loans, while in the Florida region approximately 57% of the residential mortgage loan portfolio consisted of hybrid adjustable rate mortgages. For purposes of the ACL determination, the Corporation stratifies the portfolio by two main regions (i.e., Puerto Rico/Virgin Islands region, and Florida region) and by the following two classes: (i) government-guaranteed residential mortgage loans, and (ii) conventional mortgage loans. Government-guaranteed loans are those originated to qualified borrowers under the FHA and the VA standards. Originated loans that meet the FHA’s standards qualify for the FHA’s insurance program whereas loans that meet the standards of the VA are guaranteed by such entity. No credit losses are determined for loans insured or guaranteed by the FHA or the VA due to the explicit guarantee of the U.S. federal government. Residential mortgage loans that do not qualify under the FHA or VA programs are referred to as conventional residential mortgage loans.   For conventional residential mortgage loans, the ACL is calculated using a PD/LGD modeled approach, or individually for collateral dependent loans with high delinquency levels or previously-charged off to their respective realizable values and loans that have been modified or are reasonably expected to be modified in a TDR. The ACL for residential mortgage loans measured using a PD/LGD model is calculated based on the product of a PD, LGD, and the amortized cost basis determined for each loan over the remaining expected life of the loan, considering prepayments. PD estimates represent the point-in-time as of which the PD is developed for each residential mortgage loan, updated quarterly based on, among other things, historical payment performance and relevant current and forward-looking macroeconomic variables, such as regional unemployment rates, over the expected life of the loans to determine a lifetime term structure PD curve. LGD estimates are determined based on, among other things, historical charge-off events and recovery payments, loan-to value attributes, and relevant current and forecasted macroeconomic variables expectations, such as the regional housing price index, to determine a lifetime term structure LGD curve. Under this approach, all future periods losses for each instrument are calculated using the PD and LGD loss rates derived from the term structure curves applied to the amortized cost basis of the loans, considering prepayments. For loans that have been modified or are reasonably expected to be modified in a TDR and loans previously-charged off to their respective realizable values, the Corporation determines the ACL based on a risk-adjusted discounted cash flow methodology using PDs and LGDs developed as explained above. Under this approach, all future cash flows (interest and principal) for each loan are adjusted by the PDs and LGDs derived from the term structure curves and prepayments and then discounted at the effective interest rate as of the reporting date (or original rate for TDRs) to arrive at the net present value of future cash flows. For these loans, the estimated credit loss amount recorded in a period represents the excess of the loss amount resulting from the model in excess of any previously-recorded partial charge-off of the loan. Residential mortgage loans that are 180 days or more past due are considered collateral dependent loans and are individually reviewed and charged-off, as needed, to the fair value of the collateral.     Commercial mortgage – Commercial mortgage loans are loans secured primarily by commercial real estate properties for which the primary source of repayment comes from rent and lease payments generated by an income-producing property. For purposes of the ACL determination, the Corporation stratifies the portfolio by two main regions (i.e., Puerto Rico/Virgin Islands region, and Florida region). An internal risk rating (i.e., pass, special mention, substandard, doubtful, loss) is assigned to each loan at the time of origination and monitored on a continuous basis with a formal assessment completed, at a minimum, quarterly. For commercial mortgage loans, the ACL is calculated using a PD/LGD modeled approach, or individually for those loans that meet the definition of collateral dependent loans or loans that have been modified or are reasonably expected to be modified in a TDR. The ACL for commercial mortgage loans measured using a PD/LGD model is calculated based on the product of a cumulative PD and LGD, and the amortized cost basis determined for each loan over the remaining expected life of the loan, considering prepayments. PD estimates represent the point-in-time as of which the PD is developed for each commercial mortgage loan, updated quarterly based on, among other things, the payment performance experience, industry historical loss experience, property type, occupancy, and relevant current and forward-looking macroeconomic variables over the expected life of the loans to determine a lifetime term structure PD curve. LGD estimates are determined based on historical charge-off events and recovery payments, industry historical loss experience, specific attributes of the loans such as loan-to-value, debt service coverage ratios, and net operating income, as well as relevant current and forecasted macroeconomic variables expectations, such as real estate price indexes, gross domestic product (“GDP”), interest rates, and unemployment rates among others, to determine a lifetime term structure LGD curve. Under this approach, all future periods losses for each loan are calculated using the PD and LGD loss rates derived from the term structure curves applied to the amortized cost basis of the loans, considering prepayments. The ACL for collateral dependent loans, including loans modified or reasonably expected to be modified in a TDR, is determined based on the fair value of the collateral at the reporting date, adjusted for undiscounted selling costs as appropriate.   Commercial and Industrial – Commercial and Industrial (“C&I”) loans are unsecured and secured loans for which the primary source of repayment comes from the ongoing operations and activities conducted by the borrower and not from rental income or the sale or refinancing of any underlying real estate collateral; thus, credit risk is largely dependent on the commercial borrower’s current and expected financial condition. As of March 31, 2020, the C&I loan portfolio consisted of loans granted to large corporate customers as well as middle-market customers across several industries, and the government sector. For purposes of the ACL determination, the Corporation stratifies the C&I portfolio by two main regions (i.e., Puerto Rico/Virgin Islands region, and Florida region). An internal risk rating (i.e., pass, special mention, substandard, doubtful, loss) is assigned to each loan at the time of origination and monitored on a continuous basis with a formal assessment completed, at a minimum, quarterly. For C&I loans, the ACL is calculated using a PD/LGD modeled approach, or, in some cases based on a risk-adjusted discounted cash flow method or the fair value of the collateral. The ACL for C&I loans measured using a PD/LGD model is calculated based on the product of a cumulative PD and LGD, and the amortized cost basis determined for each loan over the remaining expected life of the loan, considering prepayments. PD estimates represent the point-in-time as of which the PD is developed for each C&I loan, updated quarterly based on the industry historical loss experience, financial performance and market value indicators, and current and forecasted relevant forward-looking macroeconomic variables over the expected life of the loans to determine a lifetime term structure PD curve. LGD estimates are determined based on historical charge-off events and recovery payments, industry historical loss experience, specific attributes of the loans, such as loan to value, as well as relevant current and forecasted macroeconomic variables expectations, such as, unemployment rates, interest rates, and market risk factors based on industry performance and equity market, to determine a lifetime term structure LGD curve. Under this approach, all future periods losses for each loan are calculated using the PD and LGD loss rates derived from the term structure curves applied to the amortized cost basis of the loans, considering prepayments. The Corporation determines the ACL for C&I loans that it has determined, based upon current information and events, that it is probable that the Corporation will be unable to collect all amounts due according to the contractual terms, and for any non-collateral dependent C&I loans that have been modified or are reasonably expected to be modified in a TDR, based on a risk-adjusted discounted cash flow methodology using PDs and LGDs developed as explained above. Under this approach, all future cash flows (interest and principal) for each loan are adjusted by the PDs and LGDs derived from the term structure curves and prepayments and then discounted at the effective interest rate as of the reporting date (original rate for TDRs) to arrive at the net present value of future cash flows and the ACL is calculated as the excess of the amortized cost basis over the present value of discounted cash flows. The ACL for collateral dependent C&I loans is determined based on the fair value of the collateral at the reporting date, adjusted for undiscounted selling costs as appropriate.     Construction – As of March 31, 2020, construction loans consisted generally of loans secured by real estate made to finance the construction of industrial, commercial, or residential buildings and include loans to finance land development in preparation for erecting new structures. These loans involve an inherent higher level of risk and sensitivity to market conditions. Demand from prospective tenants or purchasers may erode after construction begins because of a general economic slowdown. For purposes of the ACL determination, the Corporation stratifies the construction loan portfolio by two main regions (i.e., Puerto Rico/Virgin Island region, and Florida region). An internal risk rating (i.e., pass, special mention, substandard, doubtful, loss) is assigned to each loan at the time of origination and monitored on a continuous basis with a formal assessment completed, at a minimum, on a quarterly basis. For construction loans, the ACL is calculated using a PD/LGD modeled approach, or individually for those loans that meet the definition of collateral dependent loans or loans that have been modified or are reasonably expected to be modified in a TDR. The ACL for construction loans measured using a PD/LGD model is calculated based on the product of a cumulative PD and LGD, and the amortized cost basis determined for each loan over the remaining expected life of the loan, considering prepayments. PD estimates represent the point-in-time as of which the PD is developed for each construction loan, updated quarterly based on, among other things, historical payment performance experience, industry historical loss experience, underlying type of collateral, and relevant current and forward-looking macroeconomic variables over the expected life of the loans to determine a lifetime term structure PD curve. LGD estimates are determined based on historical charge-off events and recovery payments, industry historical loss experience, specific attributes of the loans such as loan-to-value, debt service coverage ratios, and relevant current and forecasted macroeconomic variables expectations, such as unemployment rates, GDP, interest rates, and real estate price indexes, to determine a lifetime term structure LGD curve. Under this approach, all future periods losses for each instrument are calculated using the PDs and LGDs loss rates derived from the term structure curves applied to the amortized cost basis of the loans, considering prepayments. The ACL for collateral dependent loans, including loans modified or reasonably expected to be modified in a TDR, is determined based on the fair value of the collateral at the reporting date, adjusted for undiscounted selling costs as appropriate.   Consumer – As of March 31, 2020, consumer loans generally consisted of unsecured and secured loans extended to individuals for household, family, and other personal expenditures, including several classes of products. For purposes of the ACL determination, the Corporation stratifies the portfolio by two main regions (i.e., Puerto Rico/Virgin Islands region, and Florida region) and by the following five classes: (i) auto loans; (ii) finance leases; (iii) credit cards; (iv) personal loans; and (v) other consumer loans such as open-end home equity revolving lines of credit and other types of consumer credit lines, among others.   For auto loans and finance leases, the ACL is calculated using a PD/LGD modeled approach, or individually for loans modified or reasonably expected to be modified in a TDR and performing in accordance with restructured terms. The ACL for auto loans and finance leases measured using a PD/LGD model is calculated based on the product of a PD, LGD, and the amortized cost basis determined for each loan over the remaining expected life of the loan, considering prepayments. PD estimates represent the point-in-time as of which the PD is developed for each loan, updated quarterly based on, among other things, the historical payment performance and relevant current and forward-looking macroeconomic variables, such as regional unemployment rates, over the expected life of the loans to determine a lifetime term structure PD curve. LGD estimates are determined primarily based on historical charge-off events and recovery payments to determine a lifetime term structure LGD curve. Under this approach, all future periods’ losses for each loan are calculated using the PD and LGD loss rates derived from the term structure curves applied to the amortized cost basis of the loans, considering prepayments. For loans modified or reasonably expected to be modified in a TDR and performing in accordance with restructured terms, the Corporation determines the ACL based on a risk-adjusted discounted cash flow methodology using PDs and LGDs developed as explained above. Under this approach, all future cash flows (interest and principal) for each loan are adjusted by the PDs and LGDs derived from the term structure curves and prepayments and then discounted at the effective interest rate of the loan prior to the restructuring to arrive at the net present value of future cash flows and the ACL is calculated as the excess of the amortized cost basis over the present value of discounted cash flows for each loan.   For the credit card and personal loan portfolios, the ACL is determined on a pool basis based on a product of PDs and LGDs developed considering historical losses for each origination vintage by length of loan terms, by geography, and by credit score. The PD and LGD for each cohort consider key macroeconomic variables, such as regional GDP, unemployment rates, and retail sales, among others. Under this approach, all future period losses for each instrument are calculated using the PDs and LGDs applied to the amortized cost basis of the loans, considering prepayments.   In addition, home equity lines of credit that are 180 days or more past due are considered collateral dependent and are individually reviewed and charged-off, as needed, to the fair value of the collateral.     For the ACL determination of all portfolios, the relevant macroeconomic variables expectations related to the Puerto Rico/Virgin Islands region consider an initial reasonable and supportable period of 2 years and a reversion period of up to 3 years, utilizing a straight-line approach and reverting back to the historical macroeconomic mean. For the Florida region, the methodology considers a reasonable and supportable forecast period and an implicit reversion towards the historical trend that varies for each macroeconomic variable, achieving the steady state by year 5. After the reversion period, a historical loss forecast period covering the remaining contractual life, adjusted for prepayments, is used based on the changes in key historical economic variables during representative historical expansionary and recessionary periods.   Refer to Note 8 - Allowance for Credit Losses for Loans and Finance Leases for additional information about reserve balances for each portfolio, activity during the period, and information about changes in circumstances that caused changes in the ACL for loans and finance leases during the first quarter of 2020. Allowance for Credit Losses on Off-Balance Sheet Credit Exposures: The Corporation estimates expected credit losses over the contractual period in which the Corporation is exposed to credit risk via a contractual obligation to extend credit, unless the obligation is unconditionally cancellable by the Corporation. The ACL on off-balance sheet credit exposures is adjusted as a provision for credit loss expense. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated life. As of March 31, 2020, the off-balance sheet credit exposures primarily consisted of unfunded loans commitments and standby letters of credit for commercial and construction loans. The Corporation utilized the PDs and LGDs derived from the above-explained methodologies for the commercial and construction loan portfolios. Under this approach, all future period losses for each loan are calculated using the PD and LGD loss rates derived from the term structure curves applied to the usage given default exposure. The allowance for credit losses on off-balance sheet credit exposures is included as part of accounts payable and other liabilities in the consolidated statement of financial condition with adjustments included as part of the provision for credit loss expense in the consolidated statements of income.   Refer to Note 8 - Allowance for Credit Losses for Loans and Finance Leases for additional information about reserve balances for unfunded loan commitments, activity during the period, and information about changes in circumstances that caused changes in the ACL for loans and finance leases during the first quarter of 2020.   Allowance for Credit Losses on Other Assets Measured at Amortized Cost: The Corporation also estimates expected credit losses for certain accounts receivable, primarily claims from government-guaranteed insured loans, loan servicing-related receivables, and other receivables. The adoption of ASC 326 did not result in an adjustment to retained earnings at the time of adoption on January 1, 2020, and a material change was not reflected during the first quarter of 2020. The ACL on other assets measured at amortized cost is included as part of other assets in the consolidated statement of financial condition with adjustments included as part of other non-interest expenses in the consolidated statement of income.     Subsequent Measurement of Goodwill   In January 2017, the FASB updated the Codification to simplify the subsequent measurement of goodwill by eliminating Step 2 from the two-step goodwill impairment test. Step 1 involves a comparison of the estimated fair value of the reporting unit to its carrying value, including goodwill. If the estimated fair value of a reporting unit exceeds its carrying value, goodwill is not considered impaired. If the carrying value exceeds the estimated fair value, there is an indication of potential impairment and a second step is required to measure the amount of the impairment. Step 2, when necessary, calculated an implied fair value of the goodwill impairment for each reporting unit for which Step 1 indicated a potential impairment. The 2017 guidance provides that a goodwill impairment test must be conducted by comparing the fair value of a reporting unit with its carrying amount. Entities must recognize an impairment charge for goodwill equal to the excess of the carrying amount over the reporting unit’s fair value. Entities have the option to perform a qualitative assessment for a reporting unit to determine if the quantitative impairment is necessary. This guidance took effect for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The adoption of this guidance during the first quarter of 2020 did not have an effect on the Corporation’s consolidated financial statements or results of operations. Subsequent effects will depend upon the performance of the reporting units that have goodwill, the market conditions affecting the fair value of each reporting unit going forward, and subsequent acquisitions.   Changes to the Disclosure Requirements for Fair Value Measurement   In August 2018, the FASB updated the Codification and amended ASC Topic 820, “Fair Value Measurement and Disclosures,” to add, remove, and modify fair value measurement disclosure requirements. The requirements that were removed for public entities include disclosure about: (i) transfers between Level 1 and Level 2 of the fair value hierarchy; (ii) the policy for determining when transfers between any of the three levels have occurred; and (iii) the valuation processes used for Level 3 measurements. The disclosure requirements that were modified for public entities include: (i) for certain investments in entities that calculate the net asset value, revisions to require disclosures about the timing of liquidation and lapses of redemption restrictions, if the latter has been communicated to the reporting entity; and (ii) revisions to clarify that the disclosure of Level 3 measurement uncertainty should communicate information about the uncertainty as of the balance sheet date. The additional or new disclosure requirements include: (i) the changes in unrealized gains and losses for the period must be included in OCI for recurring Level 3 instruments held as of the balance sheet date; and (ii) the range and weighted average of significant unobservable inputs used for Level 3 measurements must be disclosed, but an entity has the option to disclose other quantitative information in place of the weighted average to the extent that it would be a more reasonable and rational method to reflect the distribution of certain unobservable inputs.   This update took effect for all entities in fiscal years, including interim periods within those fiscal years, beginning after December 15, 2019. Immediate early adoption was permitted for any of the removed or modified disclosures even if adoption of the new disclosures was delayed until the effective date. In the third quarter of 2018, the Corporation early adopted the disclosure requirements that were removed or modified by this guidance. The adoption of additional or new disclosure requirements required by this guidance during the first quarter of 2020 did not affect the Corporation’s consolidated financial statements as the Corporation’s Level 3 instruments consisted primarily of available-for-sale private label MBS for which unrealized gains and losses are recognized in OCI and information about significant inputs for the fair value determination has been historically provided.   Collaborative Arrangements   In November 2018, the FASB issued new guidance to clarify the interaction between ASC Topic 808, “Collaborative Arrangements” (“ASC Topic 808”) and ASC Topic 606, “Revenue from Contracts with Customers” (“ASC Topic 606”). The guidance (i) clarifies that certain transactions between collaborative arrangement participants should be accounted for under the ASC Topic 606 guidance; (ii) adds unit of account guidance to ASC Topic 808 to align with ASC Topic 606; and (iii) clarifies presentation guidance for transactions with a collaborative arrangement participant that is not accounted for under ASC Topic 606. The guidance took effect for annual reporting periods beginning after December 1, 2019, including interim reporting periods within these annual reporting periods, with early adoption permitted. The adoption of this guidance during the first quarter of 2020 did not have an effect on the Corporation’s consolidated financial statements or results of operations.     Recently Issued Accounting Standards Not Yet Effective or Not Yet Adopted   Income Taxes Simplification   In December 2019, the FASB issued new guidance to simplify the accounting for income taxes by removing certain exceptions to the general principles and the accounting related to areas such as franchise taxes, step-up in tax basis, goodwill, separate entity financial statements and interim recognition of enactment of tax laws or rate changes. For public business entities, the standard will be effective for annual reporting periods beginning after December 15, 2020, including interim reporting periods within those fiscal years. The Corporation is evaluating the impact of adopting this new accounting guidance, if any, on its consolidated financial statements.   Accounting for Equity Securities and Certain Derivatives   In January 2020, the FASB issued new guidance to clarify the accounting for equity securities under ASC Topic 321, “Investments – Equity Securities” (“ASC 321”); investments accounted for under the equity method of accounting in ASC Topic 323, “Investments – Equity Method and Joint Ventures”; and the accounting for certain forward contracts and purchased options accounted for under ASC Topic 815, “Derivatives and Hedging” (“ASC 815”). The guidance clarifies that an entity should consider observable transactions that result in either applying or discontinuing the equity method of accounting for the purpose of applying the measurement alternative provided by ASC 321 that allows certain equity securities without a readily determinable fair value to be measured at cost, less any impairment. When an entity accounts for an investment in equity securities under the measurement alternative and is required to transition to the equity method of accounting because of an observable transaction, it should remeasure the investment at fair value immediately before applying the equity method of accounting. Likewise, when an entity accounts for an investment in equity securities under the equity method of accounting and is required to transition to ASC 321 because of an observable transaction, it should remeasure the investment at fair value immediately after discontinuing the equity method of accounting. These amendments align the accounting for equity securities under the measurement alternative with that of other equity securities accounted for under ASC 321, reducing diversity in accounting outcomes. The guidance also clarifies that, when determining the accounting for nonderivative forward contracts and purchased options, an entity should not consider whether the underlying securities would be accounted for under the equity method or fair value option upon settlement or exercise. These instruments will not fail to meet the scope of ASC 815-10 solely because the securities would be accounted for under the equity method upon settlement of the contract or exercise of the option. For public business entities, the standard will be effective for annual reporting periods beginning after December 15, 2020, including interim reporting periods within those fiscal years. The adoption of this standard is not expected to have an effect on the Corporation’s consolidated financial statements.   Reference Rate Reform   In March 2020, the FASB issued new accounting guidance related to the effects of the reference rate reform on financial reporting. The guidance provides optional expedients and exceptions to applying GAAP to contract modifications that replace an interest rate impacted by reference rate reform (e.g., LIBOR) with a new alternative reference rate. The guidance is applicable to investment securities, receivables, loans, debt, leases, derivatives and hedge accounting elections and other contractual arrangements. The guidance may be adopted on any date on or after March 12, 2020. However, the relief is temporary and generally cannot be applied to contract modifications that occur after December 31, 2022 or hedging relationships entered into or evaluated after that date. As of the date hereof, the Corporation has not made any contract modification in connection with the reference rate reform.

X

- References No definition available. + Details Name: us-gaap_AccountingPoliciesAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

X

- Definition The entire disclosure for the basis of presentation and significant accounting policies concepts. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). Accounting policies describe all significant accounting policies of the reporting entity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -URI http://asc.fasb.org/topic&trid=2122369 + Details Name: us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

v3.20.1

INVESTMENT SECURITIES - Investment Securities Available for Sale (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Schedule of Available-for-sale Securities [Line Items]
Fair value	$ 1,932,178	$ 2,123,525
Weighted-average yield	2.50%	2.52%
Gross Unrealized loss	$ 6,562	$ 10,056
Gross Unrealized gain	63,431	24,573
Amortized cost	1,875,677	2,109,008
Allowance for Credit Losses	368	0
U S Treasury Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost Due within one year	7,483
Gross Unrealized gains Due within one year	99
Gross Unrealized losses Due within one year	0
Allowance for Credit Losses Within one year	0
Fair value Due within one year	$ 7,582
Weighted-average yield Due within one year	1.65%
Amortized cost After 1 to 5 years		7,478
Gross Unrealized gains After 1 to 5 years		1
Gross Unrealized losses After 1 to 5 years		0
Fair value After 1 to 5 years		$ 7,479
Weighted-average yield After 1 to 5 years		1.65%
U.S. government-sponsored agencies obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost Due within one year	$ 90,002	$ 93,299
Gross Unrealized gains Due within one year	510	103
Gross Unrealized losses Due within one year	0	106
Allowance for Credit Losses Within one year	0
Fair value Due within one year	$ 90,512	$ 93,296
Weighted-average yield Due within one year	1.56%	1.67%
Amortized cost After 1 to 5 years	$ 118,454	$ 142,513
Gross Unrealized gains After 1 to 5 years	1,488	676
Gross Unrealized losses After 1 to 5 years	0	52
Allowance for Credit Losses After 1 to 5 years	0
Fair value After 1 to 5 years	$ 119,942	$ 143,137
Weighted-average yield After 1 to 5 years	2.04%	2.12%
Amortized cost After 5 to 10 years	$ 112,477	$ 63,764
Gross Unrealized gains After 5 to 10 years	978	165
Gross Unrealized losses After 5 to 10 years	12	150
Fair value After 5 to 10 years	$ 113,443	$ 63,779
Weighted-average yield After 5 to 10 years	2.06%	2.33%
Amortized cost After 10 years	$ 23,306	$ 24,624
Gross Unrealized gains After 10 years	2	0
Gross Unrealized losses After 10 years	64	116
Allowance for Credit Losses After 10 years	0
Fair value After 10 years	$ 23,244	$ 24,508
Weighted-average yield After 10 years	0.65%	2.00%
Allowance for Credit Losses After 5 to 10 years	$ 0
Puerto Rico Government obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost After 5 to 10 years	4,000	$ 4,000
Gross Unrealized gains After 5 to 10 years	361	348
Gross Unrealized losses After 5 to 10 years	0	0
Fair value After 5 to 10 years	$ 4,361	$ 4,348
Weighted-average yield After 5 to 10 years	5.12%	5.12%
Amortized cost After 10 years	$ 4,113	$ 4,166
Gross Unrealized gains After 10 years	0	0
Gross Unrealized losses After 10 years	1,144	1,192
Allowance for Credit Losses After 10 years	0
Fair value After 10 years	$ 2,969	$ 2,974
Weighted-average yield After 10 years	6.97%	6.97%
Fair value	$ 7,300
Allowance for Credit Losses After 5 to 10 years	0
United States And Puerto Rico Government Obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair value	$ 362,053	$ 339,521
Weighted-average yield	1.92%	2.11%
Gross Unrealized loss	$ 1,220	$ 1,616
Gross Unrealized gain	3,438	1,293
Amortized cost	359,835	339,844
Allowance for Credit Losses	0
Mortgage Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair value	$ 1,569,625	$ 1,783,504
Weighted-average yield	2.63%	2.60%
Gross Unrealized loss	$ 5,342	$ 8,440
Gross Unrealized gain	59,993	23,280
Amortized cost	1,515,342	1,768,664
Allowance for Credit Losses	368
Mortgage Backed Securities [Member] | FHLMC [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost Due within one year	100
Gross Unrealized gains Due within one year	8
Gross Unrealized losses Due within one year	0
Allowance for Credit Losses Within one year	0
Fair value Due within one year	$ 108
Weighted-average yield Due within one year	4.87%
Amortized cost After 5 to 10 years	$ 76,460	81,418
Gross Unrealized gains After 5 to 10 years	2,426	589
Gross Unrealized losses After 5 to 10 years	0	228
Fair value After 5 to 10 years	$ 78,886	$ 81,779
Weighted-average yield After 5 to 10 years	2.15%	2.16%
Amortized cost After 10 years	$ 295,944	$ 424,316
Gross Unrealized gains After 10 years	10,832	3,873
Gross Unrealized losses After 10 years	2	758
Allowance for Credit Losses After 10 years	0
Fair value After 10 years	$ 306,774	$ 427,431
Weighted-average yield After 10 years	2.49%	2.50%
Fair value	$ 385,768	$ 509,210
Weighted-average yield	2.42%	2.44%
Gross Unrealized loss	$ 2	$ 986
Gross Unrealized gain	13,266	4,462
Amortized cost	372,504	505,734
Allowance for Credit Losses After 5 to 10 years	0
Allowance for Credit Losses	0
Mortgage Backed Securities [Member] | GNMA [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost After 1 to 5 years	5,808	4,357
Gross Unrealized gains After 1 to 5 years	141	45
Gross Unrealized losses After 1 to 5 years	0	0
Allowance for Credit Losses After 1 to 5 years	0
Fair value After 1 to 5 years	$ 5,949	$ 4,402
Weighted-average yield After 1 to 5 years	3.23%	3.26%
Amortized cost After 5 to 10 years	$ 37,206	$ 42,303
Gross Unrealized gains After 5 to 10 years	970	607
Gross Unrealized losses After 5 to 10 years	0	0
Fair value After 5 to 10 years	$ 38,176	$ 42,910
Weighted-average yield After 5 to 10 years	2.74%	2.77%
Amortized cost After 10 years	$ 303,796	$ 258,944
Gross Unrealized gains After 10 years	15,120	7,126
Gross Unrealized losses After 10 years	2	500
Allowance for Credit Losses After 10 years	0
Fair value After 10 years	$ 318,914	$ 265,570
Weighted-average yield After 10 years	3.12%	3.03%
Fair value	$ 363,039	$ 312,882
Weighted-average yield	3.08%	3.00%
Gross Unrealized loss	$ 2	$ 500
Gross Unrealized gain	16,231	7,778
Amortized cost	346,810	305,604
Allowance for Credit Losses After 5 to 10 years	0
Allowance for Credit Losses	0
Mortgage Backed Securities [Member] | FNMA [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost After 1 to 5 years	19,773	19,779
Gross Unrealized gains After 1 to 5 years	750	415
Gross Unrealized losses After 1 to 5 years	0	3
Allowance for Credit Losses After 1 to 5 years	0
Fair value After 1 to 5 years	$ 20,523	$ 20,191
Weighted-average yield After 1 to 5 years	2.79%	2.79%
Amortized cost After 5 to 10 years	$ 133,479	$ 140,599
Gross Unrealized gains After 5 to 10 years	5,218	1,257
Gross Unrealized losses After 5 to 10 years	0	641
Fair value After 5 to 10 years	$ 138,697	$ 141,215
Weighted-average yield After 5 to 10 years	2.14%	2.14%
Amortized cost After 10 years	$ 540,107	$ 700,213
Gross Unrealized gains After 10 years	23,238	9,006
Gross Unrealized losses After 10 years	0	1,208
Allowance for Credit Losses After 10 years	0
Fair value After 10 years	$ 563,345	$ 708,011
Weighted-average yield After 10 years	2.61%	2.58%
Fair value	$ 722,565	$ 869,417
Weighted-average yield	2.52%	2.51%
Gross Unrealized loss	$ 0	$ 1,852
Gross Unrealized gain	29,206	10,678
Amortized cost	693,359	860,591
Allowance for Credit Losses After 5 to 10 years	0
Allowance for Credit Losses	0
Mortgage Backed Securities [Member] | Collateralized mortgage obligations guaranteed by the FHLMC, FNMA and GNMA [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost After 1 to 5 years	606	608
Gross Unrealized gains After 1 to 5 years	0	0
Gross Unrealized losses After 1 to 5 years	3	1
Allowance for Credit Losses After 1 to 5 years	0
Fair value After 1 to 5 years	$ 603	$ 607
Weighted-average yield After 1 to 5 years	1.66%	2.43%
Amortized cost After 10 years	$ 86,706	$ 80,130
Gross Unrealized gains After 10 years	1,290	362
Gross Unrealized losses After 10 years	646	220
Allowance for Credit Losses After 10 years	0
Fair value After 10 years	$ 87,350	$ 80,272
Weighted-average yield After 10 years	2.50%	2.76%
Fair value	$ 87,953	$ 80,879
Weighted-average yield	2.49%	2.75%
Gross Unrealized loss	$ 649	$ 221
Gross Unrealized gain	1,290	362
Amortized cost	87,312	80,738
Allowance for Credit Losses	0
Mortgage Backed Securities [Member] | Private label [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost After 10 years	15,357	15,997
Gross Unrealized gains After 10 years	0	0
Gross Unrealized losses After 10 years	4,689	4,881
Allowance for Credit Losses After 10 years	368
Fair value After 10 years	$ 10,300	$ 11,116
Weighted-average yield After 10 years	3.45%	3.90%
Fair value	$ 10,300
Weighted-average yield	3.45%
Gross Unrealized loss	$ 4,700
Allowance for Credit Losses	368	$ 0
Other Debt Obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost After 1 to 5 years	500	500
Gross Unrealized gains After 1 to 5 years	0	0
Gross Unrealized losses After 1 to 5 years	0	0
Allowance for Credit Losses After 1 to 5 years	0
Fair value After 1 to 5 years	$ 500	$ 500
Weighted-average yield After 1 to 5 years	2.95%	2.95%

X

- Definition Amount before tax of unrealized gain in accumulated other comprehensive income (AOCI) on investments in debt and equity securities classified as available-for-sale. This represents single maturity date and allocated without single maturity date, maturing in sixth fiscal year through tenth fiscal year following latest fiscal year. Excludes interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date. + References No definition available. + Details Name: fbp_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTaxAfterFiveThroughTenYears Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Amount before tax of unrealized gain in accumulated other comprehensive income (AOCI) on investments in debt and equity securities classified as available-for-sale. This represents single maturity date and allocated without single maturity date, maturing in second through fifth fiscal year following latest fiscal year. Excludes interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date. + References No definition available. + Details Name: fbp_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTaxAfterOneThroughFiveYears Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Amount before tax of unrealized gain in accumulated other comprehensive income (AOCI) on investments in debt and equity securities classified as available-for-sale. This represents single maturity date and allocated without single maturity date, maturing after tenth fiscal year following latest fiscal year. Excludes interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date. + References No definition available. + Details Name: fbp_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTaxAfterTenYears Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Amount before tax of unrealized gain in accumulated other comprehensive income (AOCI) on investments in debt and equity securities classified as available-for-sale.This represents single maturity date and allocated without single maturity date, maturing in next fiscal year following latest fiscal year. Excludes interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date. + References No definition available. + Details Name: fbp_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTaxWithinOneYear Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Amount before tax of unrealized loss in accumulated other comprehensive income (AOCI) on investments in debt and equity securities classified as available-for-sale. This represents single maturity date and allocated without single maturity date, maturing in sixth fiscal year through tenth fiscal year following latest fiscal year. Excludes interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date. + References No definition available. + Details Name: fbp_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTaxAfterFiveThroughTenYears Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount before tax of unrealized loss in accumulated other comprehensive income (AOCI) on investments in debt and equity securities classified as available-for-sale. This represents single maturity date and allocated without single maturity date, maturing in second through fifth fiscal year following latest fiscal year. Excludes interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date. + References No definition available. + Details Name: fbp_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTaxAfterOneThroughFiveYears Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount before tax of unrealized loss in accumulated other comprehensive income (AOCI) on investments in debt and equity securities classified as available-for-sale. This represents single maturity date and allocated without single maturity date, maturing after tenth fiscal year following latest fiscal year. Excludes interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date. + References No definition available. + Details Name: fbp_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTaxAfterTenYears Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount before tax of unrealized loss in accumulated other comprehensive income (AOCI) on investments in debt and equity securities classified as available-for-sale.This represents single maturity date and allocated without single maturity date, maturing in next fiscal year following latest fiscal year. Excludes interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date. + References No definition available. + Details Name: fbp_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTaxWithinOneYear Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

X

- Definition Amount of allowance for credit loss on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). This represents single maturity date and allocated without single maturity date, maturing in sixth fiscal year through tenth fiscal year following latest fiscal year. Excludes interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date. + References No definition available. + Details Name: fbp_DebtSecuritiesAvailableForSaleAllowanceForCreditLossAfterFiveThroughTenYears Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Amount of allowance for credit loss on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). This represents single maturity date and allocated without single maturity date, maturing in second through fifth fiscal year following latest fiscal year. Excludes interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date. + References No definition available. + Details Name: fbp_DebtSecuritiesAvailableForSaleAllowanceForCreditLossAfterOneThroughFiveYears Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Amount of allowance for credit loss on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). This represents single maturity date and allocated without single maturity date, maturing after tenth fiscal year following latest fiscal year. Excludes interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date. + References No definition available. + Details Name: fbp_DebtSecuritiesAvailableForSaleAllowanceForCreditLossAfterTenYears Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

X

- Definition Amount of allowance for credit loss on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). This represents single maturity date and allocated without single maturity date, maturing in next fiscal year following latest fiscal year. Excludes interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date. + References No definition available. + Details Name: fbp_DebtSecuritiesAvailableForSaleAllowanceForCreditLossWithinOneYear Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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v3.20.1

LOANS HELD FOR INVESTMENT - Loan Portfolio Held for Investment (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Allowance for credit losses on loans and finance leases	$ 292,774	$ 155,139	$ 183,732	$ 196,362
Loans held for investment, net	8,758,219	8,886,543
Residential Portfolio Segment [Member]
Allowance for credit losses on loans and finance leases	107,082	44,806	51,886	50,794
Commercial Portfolio Segment [Member] | Commercial and Industrial loans [Member]
Allowance for credit losses on loans and finance leases	38,310	15,198	22,321	32,546
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Allowance for credit losses on loans and finance leases	33,971	39,194	53,430	55,581
Commercial Portfolio Segment [Member] | Construction Loans [Member]
Allowance for credit losses on loans and finance leases	5,253	2,370	3,331	3,592
Consumer Portfolio Segment [Member]
Allowance for credit losses on loans and finance leases	108,158	53,571	$ 52,764	$ 53,849
Loans held for investmet [Member]
Financing Receivable, before Allowance for Credit Loss	9,038,947	9,002,205
Allowance for credit losses on loans and finance leases	292,774	155,139
Loans held for investment, net	8,746,173	8,847,066
Loans held for investmet [Member] | Residential Portfolio Segment [Member]
Financing Receivable, before Allowance for Credit Loss	2,875,672	2,933,773
Loans held for investmet [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial loans [Member]
Financing Receivable, before Allowance for Credit Loss	2,236,218	2,230,876
Loans held for investmet [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member]
Financing Receivable, before Allowance for Credit Loss	1,454,753	1,444,586
Loans held for investmet [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member]
Financing Receivable, before Allowance for Credit Loss	159,675	111,317
Loans held for investmet [Member] | Consumer Portfolio Segment [Member]
Financing Receivable, before Allowance for Credit Loss	$ 2,312,629	$ 2,281,653

X

- Definition Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953423-111524 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118955202&loc=SL82895884-210446 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(7)(d)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 + Details Name: us-gaap_FinancingReceivableAllowanceForCreditLosses Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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- Definition Amount, before allowance for credit loss, of financing receivable. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 5 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919230-210447 + Details Name: us-gaap_NotesReceivableGross Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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v3.20.1

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation Of Revenue Table [TextBlock]	(In thousands) Mortgage Banking   Consumer (Retail) Banking   Commercial and Corporate   Treasury and Investments   United States Operations   Virgin Islands Operations   Total For the quarter ended March 31, 2020:                                         Net interest income (1) $ 17,058   $ 57,744   $ 23,581   $ 19,875   $ 13,785   $ 6,606   $ 138,649 Service charges and fees on deposit accounts   -     3,483     1,564     -     168     742     5,957 Insurance commissions   -     4,376     -     -     4     202     4,582 Merchant-related income   -     750     -     -     -     149     899 Credit and debit card fees   -     4,217     17     -     10     422     4,666 Other service charges and fees   74     617     412     -     418     147     1,668 Not in scope of Topic 606 (1)   3,566     285     18     8,328     231     -     12,428 Total non-interest income   3,640     13,728     2,011     8,328     831     1,662     30,200 Total Revenue $ 20,698   $ 71,472   $ 25,592   $ 28,203   $ 14,616   $ 8,268   $ 168,849                                             (In thousands) Mortgage Banking   Consumer (Retail) Banking   Commercial and Corporate   Treasury and Investments   United States Operations   Virgin Islands Operations   Total For the quarter ended March 31, 2019:                                         Net interest income (1) $ 17,749   $ 61,534   $ 20,933   $ 16,795   $ 16,209   $ 6,961   $ 140,181 Service charges and fees on deposit accounts   -     3,524     1,324     -     136     732     5,716 Insurance commissions   -     4,066     -     -     11     173     4,250 Merchant-related income   -     834     196     -     -     264     1,294 Credit and debit card fees   -     4,398     320     -     169     516     5,403 Other service charges and fees   44     843     426     -     133     82     1,528 Not in scope of Topic 606 (1)   3,562     342     252     74     84     38     4,352 Total non-interest income   3,606     14,007     2,518     74     533     1,805     22,543 Total Revenue $ 21,355   $ 75,541   $ 23,451   $ 16,869   $ 16,742   $ 8,766   $ 162,724 (In thousands) March 31, 2020   March 31, 2019 Beginning Balance $ 2,476   $ 2,071 Less:           Amortizations   (81)     (81) Ending balance $ 2,395   $ 1,990

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v3.20.1

SEGMENT INFORMATION - Reconciliation of Reportable Segment Financial Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Net Income (Loss):
(Loss) income before income taxes	$ (701)	$ 60,932
Income tax expense	2,967	(17,618)
Net income	2,266	43,314
Segment Reconciling Items [Member]
Net Income (Loss):
Total income for segments and other	29,272	87,205
Other operating expenses	(29,973)	(26,273)
(Loss) income before income taxes	(701)	60,932
Income tax expense	(2,967)	17,618
Net income	2,266	43,314
Average assets:
Total average earning assets for segments	11,841,095	11,280,192
Average non-earning assets	912,334	1,003,706
Total consolidated average assets	$ 12,753,429	$ 12,283,898

X

- Definition Amount of total consolidated average assets. + References No definition available. + Details Name: fbp_ConsolidatedAverageAssets Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition Other Expenses not allocated to reportable segments. + References No definition available. + Details Name: fbp_OtherExpenseNotAllocated Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition Average non earning assets. + References No definition available. + Details Name: fbp_SegmentReportingInformationAverageNonEarningAssets Namespace Prefix: fbp_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 20 -Section 25 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68072869&loc=d3e41242-110953 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(10)) -URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(8)) -URI http://asc.fasb.org/extlink&oid=116637232&loc=SL114874131-224263 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(15)) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 + Details Name: us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)(1)(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details Name: us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 20 -Section 45 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=109238882&loc=d3e38679-109324 + Details Name: us-gaap_IncomeTaxExpenseBenefit Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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v3.20.1

GOODWILL AND OTHER INTANGIBLES (Tables)	3 Months Ended
	Mar. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Gross Amount and Accumulated Amortization of Other Intangible Assets [Table Text Block]	The following table shows the gross amount and accumulated amortization of the Corporation’s intangible assets recognized as part of Other assets in the consolidated statements of financial condition as of indicated dates:               As of   As of   March 31,   December 31,   2020   2019 (Dollars in thousands)           Core deposit intangible:           Gross amount $ 51,664   $ 51,664 Accumulated amortization (1)   (48,377)     (48,176) Net carrying amount $ 3,287   $ 3,488             Remaining amortization period (in years)   4.8     5.1             Purchased credit card relationship intangible:           Gross amount $ 24,465   $ 24,465 Accumulated amortization (2)   (21,324)     (20,850) Net carrying amount $ 3,141   $ 3,615             Remaining amortization period (in years)   1.6     1.9             Insurance customer relationship intangible:           Gross amount $ 1,067   $ 1,067 Accumulated amortization (3)   (635)     (597) Net carrying amount $ 432   $ 470             Remaining amortization period (in years)   2.8     3.0 The estimated aggregate annual amortization expense related to the intangible assets for future periods is as follows as of March 31, 2020:                 Amount   (In thousands)       2020 $ 2,138   2021   2,656   2022   915   2023   622   2024   457   2025 and after   72

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- Definition Tabular disclosure of goodwill and intangible assets, which may be broken down by segment or major class. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267 + Details Name: us-gaap_ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

v3.20.1

ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) (Tables)	3 Months Ended
	Mar. 31, 2020
Advances from Federal Home Loan Banks [Abstract]
Summary of Advances from FHLB [Table Text Block]	The following is a summary of the advances from the FHLB as of the indicated dates:                       March 31,   December 31,       2020   2019                   (In thousands)                               Short-term Fixed -rate advances from FHLB (1) $ 30,000   $ 35,000   Long-term Fixed-rate advances from FHLB (2)   535,000     535,000       $ 565,000   $ 570,000 Advances from FHLB mature as follows as of the indicated date:             March 31,     2020   (In thousands)       Within one month $ 55,000   Over one to three months   20,000   Over six months to one year   50,000   Over one year to three years   440,000   Total $ 565,000

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- Definition Tabular disclosure of advances by federal home loan bank by branch. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6479118&loc=d3e64650-112822 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.13,16) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 + Details Name: us-gaap_ScheduleOfFederalHomeLoanBankAdvancesByBranchOfFHLBBankTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

v3.20.1

REVENUE FROM CONTRACT WITH CUSTOMERS - Activity of Contract Liability (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Contract with Customer, Liability [Abstract]
Beginning balance	$ 2,476	$ 2,071
Amortization	(81)	(81)
Ending balance	$ 2,395	$ 1,990

X

- Definition Amount of amortization expense for asset recognized from cost incurred to obtain or fulfill contract with customer. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 340 -SubTopic 40 -Section 50 -Paragraph 3 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=68051541&loc=SL49131252-203054 + Details Name: us-gaap_CapitalizedContractCostAmortization Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

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- Definition Amount of obligation to transfer good or service to customer for which consideration has been received or is receivable. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118944033&loc=SL49130531-203044 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 8 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118956577&loc=SL49130549-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=118944033&loc=SL49130532-203044 + Details Name: us-gaap_ContractWithCustomerLiability Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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v3.20.1

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
SEGMENT INFORMATION [Text Block]	NOTE 27 – SEGMENT INFORMATION   Based upon the Corporation’s organizational structure and the information provided to the Chief Executive Officer, the operating segments are based primarily on the Corporation’s lines of business for its operations in Puerto Rico, the Corporation’s principal market, and by geographic areas for its operations outside of Puerto Rico. As of March 31, 2020, the Corporation had six reportable segments: Commercial and Corporate Banking; Mortgage Banking; Consumer (Retail) Banking; Treasury and Investments; United States Operations; and Virgin Islands Operations. Management determined the reportable segments based on the internal structure used to evaluate performance and to assess where to allocate resources. Other factors, such as the Corporation’s organizational chart, nature of the products, distribution channels, and the economic characteristics of the products, were also considered in the determination of the reportable segments.   The Commercial and Corporate Banking segment consists of the Corporation’s lending and other services for large customers represented by specialized and middle-market clients and the public sector. The Commercial and Corporate Banking segment offers commercial loans, including commercial real estate and construction loans, and floor plan financings, as well as other products, such as cash management and business management services. The Mortgage Banking segment consists of the origination, sale, and servicing of a variety of residential mortgage loans. The Mortgage Banking segment also acquires and sells mortgages in the secondary markets. In addition, the Mortgage Banking segment includes mortgage loans purchased from other local banks and mortgage bankers. The Consumer (Retail) Banking segment consists of the Corporation’s consumer lending and deposit-taking activities conducted mainly through its branch network and loan centers. The Treasury and Investments segment is responsible for the Corporation’s investment portfolio and treasury functions that are executed to manage and enhance liquidity. This segment lends funds to the Commercial and Corporate Banking, Mortgage Banking, Consumer (Retail) Banking and United States Operations segments to finance their lending activities and borrows from those segments. The Consumer (Retail) Banking segment also lends funds to other segments. The interest rates charged or credited by Treasury and Investments and the Consumer (Retail) Banking segments are allocated based on market rates. The difference between the allocated interest income or expense and the Corporation’s actual net interest income from centralized management of funding costs is reported in the Treasury and Investments segment. The United States Operations segment consists of all banking activities conducted by FirstBank in the United States mainland, including commercial and retail banking services. The Virgin Islands Operations segment consists of all banking activities conducted by the Corporation in the USVI and BVI, including commercial and retail banking services.   The accounting policies of the segments are the same as those referred to in Note 1 – Nature of Business and Summary of Significant Accounting Policies, in the audited consolidated financial statements of the Corporation for the year ended December 31, 2019, which are included in the 2019 Annual Report on Form 10-K and updates to significant accounting policies described in Note 1 – Basis of Presentation and Significant Accounting Policies of this Form 10-Q.   The Corporation evaluates the performance of the segments based on net interest income, the provision for credit losses, non-interest income and direct non-interest expenses. The segments are also evaluated based on the average volume of their interest-earning assets less the ACL. The following table presents information about the reportable segments for the quarters ended March 31, 2020 and 2019:                                           (In thousands) Mortgage Banking   Consumer (Retail) Banking   Commercial and Corporate Banking   Treasury and Investments   United States Operations   Virgin Islands Operations   Total For the quarter ended March 31, 2020:                                         Interest income $ 28,800   $ 58,096   $ 32,636   $ 16,066   $ 22,155   $ 7,511   $ 165,264 Net (charge) credit for transfer of funds   (11,742)     10,030     (9,055)     11,491     (724)     -     - Interest expense   -     (10,382)     -     (7,682)     (7,646)     (905)     (26,615) Net interest income   17,058     57,744     23,581     19,875     13,785     6,606     138,649 Provision for credit losses   (15,201)     (32,153)     (19,175)     (1,502)     (6,564)     (2,771)     (77,366) Non-interest income   3,640     13,728     2,011     8,328     831     1,662     30,200 Direct non-interest expenses   (8,499)     (29,476)     (7,047)     (763)     (8,991)     (7,435)     (62,211) Segment (loss) income $ (3,002)   $ 9,843   $ (630)   $ 25,938   $ (939)   $ (1,938)   $ 29,272                                           Average earning assets $ 2,012,906   $ 2,131,502   $ 2,420,069   $ 2,877,104   $ 1,944,385   $ 455,129   $ 11,841,095                                                                         (In thousands) Mortgage Banking   Consumer (Retail) Banking   Commercial and Corporate Banking   Treasury and Investments   United States Operations   Virgin Islands Operations   Total For the quarter ended March 31, 2019:                                         Interest income $ 30,857   $ 49,975   $ 37,387   $ 16,249   $ 24,157   $ 7,847   $ 166,472 Net (charge) credit for transfer of funds   (13,108)     19,662     (16,454)     11,250     (1,350)     -     - Interest expense   -     (8,103)     -     (10,704)     (6,598)     (886)     (26,291) Net interest income   17,749     61,534     20,933     16,795     16,209     6,961     140,181 (Provision) release for credit losses   (6,412)     (9,412)     8,462     -     (4,364)     318     (11,408) Non-interest income   3,606     14,007     2,518     74     533     1,805     22,543 Direct non-interest expenses   (8,481)     (29,404)     (9,401)     (723)     (8,362)     (7,740)     (64,111) Segment income $ 6,462   $ 36,725   $ 22,512   $ 16,146   $ 4,016   $ 1,344   $ 87,205                                           Average earning assets $ 2,188,093   $ 1,824,240   $ 2,499,709   $ 2,392,467   $ 1,902,771   $ 472,912   $ 11,280,192                                                                                     The following table presents a reconciliation of the reportable segment financial information to the consolidated totals for the indicated periods:     Quarter Ended               March 31,               2020   2019                                   Net income:                                             Total income for segments and other $ 29,272   $ 87,205           Other operating expenses (1)   (29,973)     (26,273)           (Loss) income before income taxes   (701)     60,932           Income tax (benefit) expense   (2,967)     17,618           Total consolidated net income $ 2,266   $ 43,314                                   Average assets:                                             Total average earning assets for segments $ 11,841,095   $ 11,280,192           Average non-earning assets   912,334     1,003,706           Total consolidated average assets $ 12,753,429   $ 12,283,898                                   Expenses pertaining to corporate administrative functions that support the operating segment, but are not specifically attributable to or managed by any segment, are not included in the reported financial results of the operating segments. The unallocated corporate expenses include certain general and administrative expenses and related depreciation and amortization expenses.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details Name: us-gaap_SegmentReportingDisclosureTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

v3.20.1

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE - Repurchase Agreements Grouped by Counterparty (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Repurchase Agreement Counterparty [Line Items]
Securities Sold Under Agreements To Repurchase	$ 300,000	$ 100,000
JP Morgan Chase [Member]
Repurchase Agreement Counterparty [Line Items]
Securities Sold Under Agreements To Repurchase	$ 100,000
Weighted-Average Maturity	23 months
CREDIT SUISSE (US) [Member]
Repurchase Agreement Counterparty [Line Items]
Securities Sold Under Agreements To Repurchase	$ 200,000
Weighted-Average Maturity	58 months

X

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- Definition Amount, after the effects of master netting arrangements, of funds outstanding borrowed in the form of a security repurchase agreement between the entity and another party for the sale and repurchase of identical or substantially the same securities at a date certain for a specified price. Includes liabilities not subject to a master netting arrangement and not elected to be offset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 55 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=99393222&loc=SL20226008-175313 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=49176635&loc=d3e9760-107771 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.13(1)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(m)(1)(a)(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details Name: us-gaap_SecuritiesSoldUnderAgreementsToRepurchase Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: instant

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v3.20.1

ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) - Additional Information (Detail) - USD ($) $ in Millions	May 07, 2020	Mar. 31, 2020
Federal Home Loan Bank Advances Branch Of F H L B Bank [Line Items]
Additional capacity on credit facility based on collateral pledged	$ 383.7	$ 529.4
Federal Home Loan Bank Advances [Member]
Federal Home Loan Bank Advances Branch Of F H L B Bank [Line Items]
Letters of credit issued by the FHLB as pledges for public deposits in the Virgin Islands		$ 212.0

X

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- Definition Carrying amount as of the balance sheet date of loans that have been pledged as collateral for borrowings. If the secured party has the right by contract or custom to sell or re-pledge the collateral, then the debtor reclassifies that asset and report that asset in its statement of financial position separately from other assets not so encumbered. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 30 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66007379&loc=d3e113888-111728 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=118936363&loc=d3e5086-111524 + Details Name: us-gaap_LoansPledgedAsCollateral Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: instant

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v3.20.1

ACCUMULATED OTHER COMPREHENSIVE (LOSS)	3 Months Ended
	Mar. 31, 2020
Statement of Other Comprehensive Income [Abstract]
OTHER COMPREHENSIVE INCOME [Text Block]	NOTE 23 – ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table presents changes in accumulated other comprehensive income (loss) for the quarters ended March 31, 2020 and 2019:               Changes in Accumulated Other Comprehensive Income (Loss) by Component (1)     Quarter ended     March 31,     2020   2019   (In thousands)     Unrealized net holding gains (losses) on debt securities           Beginning balance $ 6,764 $ (40,415)   Other comprehensive income (loss)   42,352   20,510   Ending balance $ 49,116 $ (19,905)   ______________________           All amounts presented are net of tax. The following table presents the amounts reclassified out of each component of Accumulated other comprehensive income (loss) for the quarters ended March 31, 2020 and 2019:                       Reclassifications Out of Accumulated Other Comprehensive Income (Loss)   Affected Line Item in the Consolidated Statements of Income   Quarter ended     March 31     2020     2019 (In thousands)       Unrealized net holding gains (losses) on debt securities               Realized gain on sale of debt securities Net gain on sale of               investments   $ (8,247)   $ - Provision for credit losses Provision for credit losses     368     -   Total before tax     (7,879)     -   Income tax     -     -   Total, net of tax   $ (7,879)   $ -

X

- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI http://asc.fasb.org/topic&trid=2134417 + Details Name: us-gaap_ComprehensiveIncomeNoteTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

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v3.20.1

BASIS OF PRESENTATION (Tables)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Accounting Standards Update and Change in Accounting Principle [Table Text Block]	The following table illustrates the transition adjustment impact of ASC 326:                   (In thousands) January 1, 2020     ACL Under ASC 326     Pre-ASC 326     Impact of ASC 326     Adoption Date     Adoption     Adoption                   Assets:                 ACL on debt securities held to maturity $ 8,134   $ -   $ 8,134                   ACL on Loans and Finance Leases                 Residential mortgage loans $ 94,643   $ 44,806   $ 49,837 Commercial mortgage loans   19,888     39,194     (19,306) Commercial and Industrial loans   29,929     15,198     14,731 Construction loans   3,167     2,370     797 Consumer loans   88,677     53,571     35,106 Total ACL on loans and finance leases   236,304     155,139     81,165                   Liabilities:                 ACL on off-balance sheet credit exposure $ 3,922   $ -   $ 3,922                   Pre-tax effect in beginning retained earnings $ 248,360   $ 155,139   $ 93,221                   Balance sheet reclassification (1)               434                   Tax effect             $ (31,333)                   After-tax effect in beginning retained earnings             $ 62,322

X

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v3.20.1

STOCK-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2020
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK-BASED COMPENSATION [Text Block]	NOTE 4 – STOCK-BASED COMPENSATION On May 24, 2016, the Corporation’s stockholders approved the amendment and restatement of the First BanCorp. Omnibus Incentive Plan, as amended (the “Omnibus Plan”), to, among other things, increase the number of shares of common stock reserved for issuance under the Omnibus Plan, extend the term of the Omnibus Plan to May 24, 2026 and re-approve the material terms of the performance goals under the Omnibus Plan for purposes of the then-effective Section 162(m) of the U.S. Internal Revenue Code of 1986, as amended. The Omnibus Plan provides for equity-based compensation incentives (the “awards”) through the grant of stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, cash-based awards and other stock-based awards. The Omnibus Plan authorizes the issuance of up to 14,169,807 shares of common stock, subject to adjustments for stock splits, reorganizations and other similar events. As of March 31, 2020, 5,745,970 authorized shares of common stock were available for issuance under the Omnibus Plan. The Corporation’s Board of Directors, based on the recommendation of the Corporation’s Compensation and Benefits Committee, has the power and authority to determine those eligible to receive awards and to establish the terms and conditions of any awards, subject to various limits and vesting restrictions that apply to individual and aggregate awards.   Restricted Stock   Under the Omnibus Plan, the Corporation may grant restricted stock to plan participants, subject to forfeiture upon the occurrence of certain events until the dates specified in the participant’s award agreement. While the restricted stock is subject to forfeiture and does not contain non-forfeitable dividend rights, participants may exercise full voting rights with respect to the shares of restricted stock granted to them. The restricted stock granted under the Omnibus Plan is typically subject to a vesting period. During the first quarter of 2020, the Corporation awarded 851,673 shares of restricted stock to employees; fifty percent (50%) of those shares vest on the two-year anniversary of the grant date and the remaining 50% vest on the three-year anniversary of the grant date. Included in those 851,673 shares of restricted stock were 47,194 shares granted to retirement-eligible employees. The total expense determined for the restricted stock awarded to retirement-eligible employees was charged against earnings. During the first quarter 2019, the Corporation awarded to its independent directors 3,745 shares of restricted stock that were subject to one-year vesting periods. In addition, during the first quarter of 2019, the Corporation awarded 261,871 shares of restricted stock to employees; fifty percent (50%) of those shares vest on the two-year anniversary of the grant date and the remaining 50% vest on the three-year anniversary of the grant date. Included in those 261,871 shares of restricted stock were 13,308 shares granted to retirement-eligible employees. The fair value of the shares of restricted stock granted in the first quarter of 2020 was based on the market price of the Corporation’s outstanding common stock on the date of the respective grant.   The following table summarizes the restricted stock activity in the first quarter of 2020 under the Omnibus Plan:                 Quarter Ended     March 31, 2020     Number of           shares of     Weighted-Average     restricted     Grant Date     stock     Fair Value             Unvested shares outstanding at beginning of period 644,805   $ 8.51 Granted 851,673     4.08 Vested (184,370)     6.51 Unvested shares outstanding at March 31, 2020 1,312,108   $ 5.91             For the quarters ended March 31, 2020 and 2019, the Corporation recognized $0.8 million and $0.9 million, respectively, of stock-based compensation expense related to restricted stock awards. As of March 31, 2020, there was $5.2 million of total unrecognized compensation cost related to unvested shares of restricted stock. The weighted average period over which the Corporation expects to recognize such cost was 2.0 years as of March 31, 2020.   Stock-based compensation accounting guidance requires the Corporation to reverse compensation expense for any awards that are forfeited due to employee or director turnover. Quarterly changes in the estimated forfeiture rate may have a significant effect on stock-based compensation, as the Corporation recognized the effect of adjusting the rate for all expense amortization in the period in which the forfeiture estimate is changed. If the actual forfeiture rate is higher than the estimated forfeiture rate, an adjustment is made to increase the estimated forfeiture rate, which will result in a decrease in the expense recognized in the financial statements. If the actual forfeiture rate is lower than the estimated forfeiture rate, an adjustment is made to decrease the estimated forfeiture rate, which will result in an increase in the expense recognized in the financial statements.   Performance Units   Under the Omnibus Plan, the Corporation may award performance units to Omnibus Plan participants. During the first quarter of 2020, the Corporation granted 502,307 units to executives, with each unit representing the value of one share of the Corporation’s common stock. The performance units granted in 2020 are for the performance period beginning January 1, 2020 and ending on December 31, 2022 and are subject to three-year requisite service periods. These awards do not contain non-forfeitable rights to dividend equivalent amounts and can only be settled in shares of the Corporation’s common stock. The performance units will vest based on the achievement of a pre-established tangible book value per share target as of December 31, 2022. All of the performance units will vest if performance is at the pre-established performance target level or above. However, the participants may vest with respect to 50% of the awards to the extent that performance is below the target but at 80% of the pre-established performance target level (the “80% minimum threshold”), which is measured based upon the growth in the tangible book value during the performance cycle. If performance is between the 80% minimum threshold and the pre-established performance target level, the participants will vest on a proportional amount. No performance units will vest if performance is below the 80% minimum threshold.   During the first quarter of 2019, the Corporation awarded 200,053 performance units to executives. The performance units granted in 2019 are for the performance period beginning January 1, 2019 and ending on December 31, 2021 and are subject to three-year requisite service periods and a pre-established performance target level as describe above.   The fair values of the performance units awarded in the first quarter of 2020 and 2019 were based on the market price of the Corporation’s outstanding common stock on the respective date of the grant. For the quarters ended March 31, 2020 and 2019, the Corporation recognized $0.3 million and $0.1 million, respectively, of stock-based compensation expense related to performance units. As of March 31, 2020, there was $4.1 million of total unrecognized compensation cost related to unvested performance units that the Corporation expects to recognize over the next three years. The total amount of compensation expense recognized reflects management’s assessment of the probability that the pre-established performance goal will be achieved. The Corporation will recognize a cumulative adjustment to compensation expense in the then-current period to reflect any changes in the probability of achievement of the performance goals.   Shares withheld   During the quarter ended March 31, 2020, the Corporation withheld 50,285 shares (first quarter of 2019 –168,679 shares) of the restricted stock that vested during such period to cover the officers’ payroll and income tax withholding liabilities; these shares are held as treasury shares. The Corporation paid in cash any fractional share of salary stock to which an officer was entitled. In the consolidated financial statements, the Corporation treats shares withheld for tax purposes as common stock repurchases.

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v3.20.1

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Summary of Fair Value of Derivative Instruments and Location in Statement of Financial Condition (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Derivatives Fair Value [Line Items]
Other Assets	$ 494,178	$ 213,513
Accounts payable and other liabilities	176,763	180,614
Not Designated as Hedging Instrument, Economic Hedge [Member]
Derivatives Fair Value [Line Items]
Asset Derivative	332	372
Liability Derivatives	812	149
Not Designated as Hedging Instrument, Economic Hedge [Member] | Sale of TBA GNMA MBS pools [Member]
Derivatives Fair Value [Line Items]
Other Assets	0	0
Accounts payable and other liabilities	803	138
Not Designated as Hedging Instrument, Economic Hedge [Member] | Loan Origination Commitments [Member]
Derivatives Fair Value [Line Items]
Other Assets	20	20
Accounts payable and other liabilities	0	0
Not Designated as Hedging Instrument, Economic Hedge [Member] | Interest Rate Lock Commitments [Member]
Derivatives Fair Value [Line Items]
Other Assets	303	341
Accounts payable and other liabilities	0	0
Not Designated as Hedging Instrument, Economic Hedge [Member] | Interest Rate Cap [Member] | Written
Derivatives Fair Value [Line Items]
Other Assets	0	0
Accounts payable and other liabilities	9	11
Not Designated as Hedging Instrument, Economic Hedge [Member] | Interest Rate Cap [Member] | Purchase
Derivatives Fair Value [Line Items]
Other Assets	9	11
Accounts payable and other liabilities	$ 0	$ 0

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v3.20.1

LEASES - Supplemental Cash Flow Information Related To Leases (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Leases [Abstract]
Operating cash flow from operating leases	$ 2,550	$ 2,742
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 274	$ 0

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- Definition Amount of cash outflow from operating lease, excluding payments to bring another asset to condition and location necessary for its intended use. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 45 -Paragraph 5 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=77888419&loc=SL77918643-209977 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (g)(1) -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980 + Details Name: us-gaap_OperatingLeasePayments Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: credit Period Type: duration

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- Definition Amount of increase in right-of-use asset obtained in exchange for operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 55 -Paragraph 53 -URI http://asc.fasb.org/extlink&oid=77888399&loc=SL77918982-209971 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (g)(2) -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980 + Details Name: us-gaap_RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability Namespace Prefix: us-gaap_ Data Type: xbrli:monetaryItemType Balance Type: debit Period Type: duration

v3.20.1

ALLOWANCE FOR LOAN AND LEASE LOSSES	3 Months Ended
	Mar. 31, 2020
Loans And Leases Receivable Disclosure [Abstract]
ALLOWANCE FOR LOAN AND LEASE LOSSES [Text Block]	NOTE 8 – ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LEASES The following table presents the activity in the ACL on loans and finance leases by portfolio segment for the quarters ended March 31, 2020 and 2019:                                     Quarter ended March 31, 2020 Residential Mortgage Loans   Construction Loans   Commercial Mortgage Loans   Commercial & Industrial Loans   Consumer Loans   Total (In thousands)                                                 Allowance for credit losses:                                   Beginning balance, prior to adoption of ASC 326 $ 44,806   $ 2,370   $ 39,194   $ 15,198   $ 53,571   $ 155,139 Impact of adopting ASC 326   49,837     797     (19,306)     14,731     35,106     81,165 Provision for credit losses   16,218     2,062     14,167     8,391     33,207     74,045 Charge-offs   (4,435)     (3)     (128)     (125)     (15,504)     (20,195) Recoveries   656     27     44     115     1,778     2,620 Ending balance $ 107,082   $ 5,253   $ 33,971   $ 38,310   $ 108,158   $ 292,774 Quarter ended March 31, 2019 Residential Mortgage Loans   Construction Loans   Commercial Mortgage Loans   Commercial & Industrial Loans   Consumer Loans   Total (In thousands)                                                 Allowance for credit losses:                                   Beginning balance $ 50,794   $ 3,592   $ 55,581   $ 32,546   $ 53,849   $ 196,362 Provision (release) for credit losses   6,639     (95)     121     (5,009)     10,164     11,820 Charge-offs   (6,173)     (207)     (2,400)     (6,311)     (13,269)     (28,360) Recoveries   626     41     128     1,095     2,020     3,910 Ending balance $ 51,886   $ 3,331   $ 53,430   $ 22,321   $ 52,764   $ 183,732 The Corporation estimates the ACL following the methodologies described in Note 1 – Basis of Presentation and Significant Accounting Policies for each portfolio segment. The ACL for loans and finance leases was $155.1 million as of December 31, 2019. Upon adoption of CECL on January 1, 2020, the Corporation recognized an increase in the ACL for loans and finance leases of approximately $81.2 million, as a cumulative effect adjustment from the adoption of ASC 326, with a corresponding decrease in retained earnings, net of applicable income taxes. As of March 31, 2020, the ACL for loans and finance leases was $292.8 million, up $137.7 million from December 31, 2019, driven by the $81.2 million increase as a result of adopting CECL and a $56.5 million reserve build (i.e., provision of $74.0 million in excess of net charge-offs of $17.6 million) in the first quarter of 2020. The increase in the ACL across all loan portfolio categories primarily reflects the effect of a deteriorating economic outlook due to the COVID-19 pandemic on the macroeconomic variables used for the determination of the PDs and LGDs used in the different models. For those loans where the ACL was determined based on a discounted cash flow model, as indicated in Note 1 – Basis of Presentation and Significant Accounting Policies above, the change in the ACL due to the passage of time is recorded as part of the provision for credit losses. The tables below present the allowance for credit losses on loans and finance leases and the carrying value of loans by portfolio segment as of March 31, 2020 and December 31, 2019:                                 As of March 31, 2020 Residential Mortgage Loans         Commercial Mortgage Loans   Commercial and Industrial Loans     Consumer Loans           Construction Loans               (Dollars in thousands)             Total                                         Total loans held for investment:                                       Amortized cost of loans $ 2,875,672   $ 159,675   $ 1,454,753   $ 2,236,218     $ 2,312,629   $ 9,038,947   Allowance for credit losses   107,082     5,253     33,971     38,310       108,158     292,774   Allowance for credit losses to                                       amortized cost   3.72 %   3.29 %   2.34 %   1.71 %     4.68 %   3.24 % As of December 31, 2019 Residential Mortgage Loans       Commercial Mortgage Loans   Commercial and Industrial Loans   Consumer Loans           Construction Loans           (Dollars in thousands)         Total Total loans held for investment:                                   Amortized cost of loans $ 2,933,773   $ 111,317 $ 1,444,586   $ 2,230,876   $ 2,281,653   $ 9,002,205   Allowance for credit losses   44,806     2,370   39,194     15,198     53,571     155,139   Allowance for credit losses to                                   amortized cost   1.53 %   2.13   2.71 %   0.68 %   2.35 %   1.72 %                                     In addition, the Corporation estimates expected credit losses over the contractual period in which the Corporation is exposed to credit risk via a contractual obligation to extend credit, such as unfunded loan commitments and standby letters of credit for commercial and construction loans, unless the obligation is unconditionally cancellable by the Corporation. The Corporation estimates the ACL for these off-balance sheet exposures following the methodology described in Note 1 – Basis of Presentation and Significant Accounting Policies above. Upon adoption of CECL on January 1, 2020, the Corporation recognized an increase in the ACL for off-balance sheet exposures of approximately $3.9 million, as a cumulative effect adjustment from the adoption of ASC 326, with a corresponding decrease in retained earnings, net of applicable income taxes. As of March 31, 2020, the ACL for off-balance sheet credit exposures was $5.7 million, including the $3.9 million effect of adopting CECL and a $1.8 million charge to the provision in the first quarter of 2020. The increase in the allowance for credit losses for unfunded loan commitments in the first quarter of 2020 primarily reflects the effect of the deteriorating economic outlook due to the COVID-19 pandemic.   The following table presents the activity in the ACL for unfunded loan commitments and standby letters of credit for the quarters ended March 31, 2020 and 2019:   Quarter ended   March 31, 2020   March 31, 2019 (In thousands)           Beginning Balance $ -   $ 412 Impact of adopting ASC 326   3,922     - Provision (release) for credit losses   1,819     (412) Ending balance $ 5,741   $ -

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- Definition The entire disclosure for allowance for credit losses. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -URI http://asc.fasb.org/topic&trid=2196771 + Details Name: us-gaap_AllowanceForCreditLossesTextBlock Namespace Prefix: us-gaap_ Data Type: nonnum:textBlockItemType Balance Type: na Period Type: duration

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- References No definition available. + Details Name: us-gaap_LoansAndLeasesReceivableDisclosureAbstract Namespace Prefix: us-gaap_ Data Type: xbrli:stringItemType Balance Type: na Period Type: duration

v3.20.1

GOODWILL AND OTHER INTANGIBLES - Gross Amount and Accumulated Amortization of Other Intangible Assets (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Core Deposits [Member]
Finite Lived Intangible Assets [Line Items]
Gross amount	$ 51,664	$ 51,664
Accumulated amortization	(48,377)	(48,176)
Net carrying amount	$ 3,287	$ 3,488
Remaining amortization period	4 years 9 months 18 days	5 years 1 month 6 days
Customer Relationships [Member] | Credit Card [Member]
Finite Lived Intangible Assets [Line Items]
Gross amount	$ 24,465	$ 24,465
Accumulated amortization	(21,324)	(20,850)
Net carrying amount	$ 3,141	$ 3,615
Remaining amortization period	1 year 7 months 6 days	1 year 10 months 24 days
Customer Relationships [Member] | Insurance Customer Intangible [Member]
Finite Lived Intangible Assets [Line Items]
Gross amount	$ 1,067	$ 1,067
Accumulated amortization	(635)	(597)
Net carrying amount	$ 432	$ 470
Remaining amortization period	2 years 9 months 18 days	3 years

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- Definition Remaining amortization period of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. + References No definition available. + Details Name: us-gaap_FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1 Namespace Prefix: us-gaap_ Data Type: xbrli:durationItemType Balance Type: na Period Type: duration

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