XML 28 R16.htm IDEA: XBRL DOCUMENT
v3.19.1

Deposits and Related Interest | 3 Months Ended
--- | ---
Mar. 31, 2019
Deposits and Related Interest [Abstract] |
Deposit and Related Interest | NOTE 9— DEPOSITS AND RELATED INTEREST Total deposits, including related accrued interest payable, as of March 31, 2019 and December 31, 2018 consist of the following:
| March 31, |  | December 31,
| 2019 |  | 2018
| (In thousands)
Non-interest bearing demand deposits | $ | 1,092,488 |  | $ | 1,105,324
Interest-bearing savings and demand deposits |  | 2,356,868 |  |  | 2,274,423
Retail certificates of deposit |  | 810,670 |  |  | 805,712
Institutional certificates of deposit |  | 185,849 |  |  | 197,559
Total core deposits |  | 4,445,875 |  |  | 4,383,018
Brokered deposits |  | 451,226 |  |  | 525,097
Total deposits | $ | 4,897,101 |  | $ | 4,908,115
Brokered deposits include $430.2 million in certificates of deposits and $21.0 million in money market accounts at March 31, 2019, and $500.8 million in certificates of deposits and $24.3 million in money market accounts at December 31, 2018. The weighted average interest rate of Oriental’s deposits was 0.74% and 0.67%, respectively, at March 31, 2019 and December 31, 2018. Interest expense for the quarters ended March 31, 2019 and 2018 was as follows:
| Quarter Ended March 31,
| 2019 |  | 2018
| (In thousands)
Demand and savings deposits | $ | 3,411 |  | $ | 2,812
Certificates of deposit |  | 5,638 |  |  | 4,486
| $ | 9,049 |  | $ | 7,298
At March 31, 2019 and December 31, 2018, time deposits in denominations of $250 thousand or higher, excluding accrued interest and unamortized discounts, amounted to $338.5 million and $346.0 million, respectively. Such amounts include public funds time deposits from various Puerto Rico government municipalities, agencies and corporations of $14.1 million and $19.6 million at a weighted average rate of 127.0% and 116.4% at March 31, 2019 an d December 31, 2018, respectively. At March 31, 2019 and December 31, 2018, total public fund deposits from various Puerto Rico government municipalities, agencies and corporations amounted to $228.8 million and $207.4 million, respectively. These pub lic funds were collateralized with commercial loans and securities amounting to $278.2 million and $281.2 million at March 31, 2019 and December 31, 2018, respectively. Excluding accrued interest of approximately $2.2 million, the scheduled maturities of certificates of deposit at March 31, 2019 and December 31, 2018 are as follows:
| March 31, |  | December 31,
|  | 2019 |  |  | 2018
| (In thousands)
Within one year: |  |  |  |  |
Three (3) months or less | $ | 275,976 |  | $ | 305,088
Over 3 months through 1 year |  | 469,477 |  |  | 545,363
|  | 745,453 |  |  | 850,451
Over 1 through 2 years |  | 508,568 |  |  | 484,197
Over 2 through 3 years |  | 94,306 |  |  | 89,340
Over 3 through 4 years |  | 33,099 |  |  | 34,018
Over 4 through 5 years |  | 43,117 |  |  | 42,998
| $ | 1,424,543 |  | $ | 1,501,004
The table of scheduled maturities of certificates of deposits above includes brokered-deposits and individual retirement accounts. The aggregate amount of overdrafts in demand deposit accounts that were reclassified to loans amounted to $5 78 thousand and $1.1 million as of March 31, 2019 and December 31, 2018, respectively.

X
- Definition Deposits and related interest. + References No definition available. + Details
Name: | ofg_DepositsAndRelatedInterestAbstract
Namespace Prefix: | ofg_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for deposit liabilities including data and tables. It may include a description of the entity's deposit liabilities, the aggregate amount of time deposits (including certificates of deposit) in denominations of $100,000 or more at the balance sheet date; the aggregate amount of any demand deposits that have been reclassified as loan balances, such as overdrafts, at the balance sheet date; deposits that are received on terms other than those in the normal course of business, the amount of accrued interest on deposit liabilities; securities, mortgage loans or other financial instruments that serve as collateral for deposits; for time deposits having a remaining term of more than one year, the aggregate amount of maturities for each of the five years following the balance sheet date; and the weighted average interest rate for all deposit 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 405 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=50488274&loc=d3e64164-112818 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 210.9-03.12) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details
Name: | us-gaap_DepositLiabilitiesDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration