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OTHER BORROWINGS (Tables)
9 Months Ended
Sep. 30, 2017
Components of Other Borrowings
September 30, December 31,
(In thousands)20172016
Junior subordinated debentures due in 2034,
interest-bearing at a floating rate of 2.75%
over 3-month LIBOR (4.07% as of September 30, 2017
and 3.74% as of December 31, 2016) (1)$90,082$97,630
Junior subordinated debentures due in 2034,
interest-bearing at a floating rate of 2.50%
over 3-month LIBOR (3.82% as of September 30, 2017
and 3.50% as of December 31, 2016) 118,557118,557
$208,639$216,187
(1) Refer to Note 14 - "Non Consolidated Variable Interest Entities and Servicing Assets - Trust Preferred Securities" for additional information about the Corporation's repurchase and cancellation in the third quarter of 2017 of $7.3 million of trust preferred securities associated with this junior subordinated debentures.