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OFG BANCORP Holding Company Financial Information (Tables) | 12 Months Ended
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Dec. 31, 2015
Condensed Financial Information Of Parent Company Only Disclosure Abstract |
CondensedConsolidatingBalanceSheetTableTextBlock |
|  | December 31,
|  | 2015 |  | 2014
|  | (In thousands)
ASSETS |  |  |  |  |  |
Cash and cash equivalents |  | $ | 20,240 |  | $ | 16,824
Investment securities available-for-sale, at fair value |  |  | 6,017 |  |  | 8,244
Investment in bank subsidiary, equity method |  |  | 890,449 |  |  | 943,664
Investment in nonbank subsidiaries, equity method |  |  | 19,137 |  |  | 17,071
Due from bank subsidiary, net |  |  | 119 |  |  | 87
Deferred tax asset, net |  |  | 3,047 |  |  | -
Other assets |  |  | 2,042 |  |  | 2,089
Total assets |  | $ | 941,051 |  | $ | 987,979
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |
Dividend payable |  |  | 6,098 |  |  | 7,927
Deferred tax liabilities, net |  |  | - |  |  | 75
Due to affiliates |  |  | 9 |  |  | 9
Accrued expenses and other liabilities |  |  | 1,784 |  |  | 1,688
Subordinated capital notes |  |  | 36,083 |  |  | 36,083
Total liabilities |  |  | 43,974 |  |  | 45,782
Stockholders’ equity |  |  | 897,077 |  |  | 942,197
Total liabilities and stockholders’ equity |  | $ | 941,051 |  | $ | 987,979
CondensedConsolidatingStatementOfOperationsTableTextBlock |
| Year Ended December 31,
| 2015 |  | 2014 |  |  | 2013
| (In thousands)
Income: |  |  |  |  |  |  |  |
Interest income | $ | 321 |  | $ | 404 |  | $ | 400
Investment trading activities, net and other |  | 4,007 |  |  | 4,308 |  |  | 3,668
Total income |  | 4,328 |  |  | 4,712 |  |  | 4,068
Expenses: |  |  |  |  |  |  |  |
Interest expense |  | 1,222 |  |  | 1,201 |  |  | 1,219
Operating expenses |  | 6,866 |  |  | 6,607 |  |  | 6,003
Total expenses |  | 8,088 |  |  | 7,808 |  |  | 7,222
(Loss) before income taxes |  | (3,760) |  |  | (3,096) |  |  | (3,154)
Income tax expense (benefit) |  | 3,088 |  |  | - |  |  | (2)
(Loss) before changes in undistributed earnings of subsidiaries |  | (672) |  |  | (3,096) |  |  | (3,156)
Bank subsidiary |  | (3,804) |  |  | 84,787 |  |  | 98,133
Nonbank subsidiaries |  | 1,972 |  |  | 3,490 |  |  | 3,469
Net (loss) income | $ | (2,504) |  | $ | 85,181 |  | $ | 98,446
CondensedConsolidatingOtherComprenhensiveIncomeTableTextBlock |
| Year ended December 31,
| 2015 |  | 2014 |  | 2013
| (In thousands)
Net (loss) income | $ | (2,504) |  | $ | 85,181 |  | $ | 98,446
Other comprehensive (loss) income before tax: |  |  |  |  |  |  |  |
Unrealized (loss) gain on securities available-for-sale |  | (170) |  |  | 209 |  |  | (519)
Other comprehensive (loss) income from Bank subsidiary |  | (5,578) |  |  | 16,361 |  |  | (52,249)
Other comprehensive (loss) income before taxes |  | (5,748) |  |  | 16,570 |  |  | (52,768)
Income tax effect |  | 34 |  |  | (50) |  |  | 79
Other comprehensive income (loss) after taxes |  | (5,714) |  |  | 16,520 |  |  | (52,689)
Comprehensive income (loss) | $ | (8,218) |  | $ | 101,701 |  | $ | 45,757
CondensedConsolidatingStatementOfCashFlowsTableTextBlock |
| Year Ended December 31,
| 2015 |  | 2014 |  | 2013
| (In thousands)
Cash flows from operating activities: |  |  |  |  |  |  |  |
Net (loss) income | $ | (2,504) |  | $ | 85,181 |  | $ | 98,446
Adjustments to reconcile net (loss) income to net cash provided by operating activities: |  |  |  |  |  |  |  |
Equity in undistributed earnings from banking subsidiary |  | 3,804 |  |  | (84,787) |  |  | (98,133)
Equity in undistributed earnings from nonbanking subsidiaries |  | (1,972) |  |  | (3,490) |  |  | (3,469)
Amortization of investment securities premiums, net of accretion of discounts |  | 44 |  |  | 21 |  |  | 141
Other impairments on securities |  | - |  |  | 62 |  |  | 7
Stock-based compensation |  | 1,637 |  |  | 1,036 |  |  | 1,823
Deferred income tax, net |  | (3,088) |  |  | - |  |  | 2,272
Net decrease in other assets |  | 148 |  |  | 554 |  |  | 11
Net (decrease) in accrued expenses, other liabilities, and dividend payable |  | (221) |  |  | (696) |  |  | (2,051)
Dividends from banking subsidiary |  | 45,000 |  |  | 28,000 |  |  | -
Dividends from non-banking subsidiary |  | - |  |  | 5,900 |  |  | 15,600
Net cash provided by operating activities |  | 42,848 |  |  | 31,781 |  |  | 14,647
Cash flows from investing activities: |  |  |  |  |  |  |  |
Maturities and redemptions of investment securities available-for-sale |  | 2,013 |  |  | 1,318 |  |  | 4,676
Net (increase) decrease in due from bank subsidiary, net |  | 317 |  |  | (218) |  |  | 2,461
Capital contribution to banking subsidiary |  | (1,167) |  |  | (892) |  |  | (1,385)
Capital contribution to non-banking subsidiary |  | (94) |  |  | (76) |  |  | (99)
Additions to premises and equipment |  | (132) |  |  | - |  |  | -
Net cash provided by investing activities |  | 937 |  |  | 132 |  |  | 5,653
Cash flows from financing activities: |  |  |  |  |  |  |  |
Proceeds from (payments to) exercise of stock options and lapsed restricted units, net |  | 204 |  |  | 643 |  |  | (572)
Proceeds from issuance of common stock, net |  | - |  |  | - |  |  | (16)
Proceeds from issuance of preferred stock, net |  | - |  |  | - |  |  | (25)
Purchase of treasury stock |  | (8,950) |  |  | (16,948) |  |  | -
Dividends paid |  | (31,623) |  |  | (28,341) |  |  | (24,651)
Net cash used in financing activities |  | (40,369) |  |  | (44,646) |  |  | (25,264)
Net change in cash and cash equivalents |  | 3,416 |  |  | (12,733) |  |  | (4,964)
Cash and cash equivalents at beginning of year |  | 16,824 |  |  | 29,557 |  |  | 34,521
Cash and cash equivalents at end of year | $ | 20,240 |  | $ | 16,824 |  | $ | 29,557

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