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OTHER BORROWINGS (Tables)
3 Months Ended
Mar. 31, 2018
Components of Other Borrowings
March 31, December 31,
20182017
(In thousands)
Junior subordinated debentures due in 2034,
interest-bearing at a floating rate of 2.75%
over 3-month LIBOR (4.92% as of March 31, 2018
and 4.35% as of December 31, 2017) (1)$65,593$90,078
Junior subordinated debentures due in 2034,
interest-bearing at a floating rate of 2.50%
over 3-month LIBOR (4.70% as of March 31, 2018
and 4.12% as of December 31, 2017)118,557118,557
$184,150$208,635
(1) Refer to Note 14, - "Non-Consolidated Variable Interest Entities and Servicing Assets-Trust Preferred Securities," for additional information about the Corporation repurchase and cancellation in the first quarter of 2018 of $23.8 million in trust-preferred securities associated with these junior subordinated debentures.