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OFG Bancorp (Holding Company Only) Financial Information (Tables) | 12 Months Ended
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Dec. 31, 2020
OFG Bancorp (Holding Company Only) Financial Information [Abstract] |
Condensed Statements Of Financial Information |
|  | December 31,
|  | 2020 |  | 2019
|  | (In thousands)
ASSETS |  |  |  |  |  |
Cash and cash equivalents |  | $ | 26,529 |  | $ | 27,932
Investment in bank subsidiary, equity method |  |  | 1,064,671 |  |  | 1,027,633
Investment in nonbank subsidiaries, equity method |  |  | 32,293 |  |  | 32,803
Due from bank subsidiary, net |  |  | 2,024 |  |  | 40
Deferred tax asset, net |  |  | 2,637 |  |  | -
Other assets |  |  | 942 |  |  | 676
Total assets |  | $ | 1,129,096 |  | $ | 1,089,084
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |
Dividend payable |  |  | 5,223 |  |  | 5,222
Accrued expenses and other liabilities |  |  | 1,816 |  |  | 2,301
Subordinated capital notes |  |  | 36,083 |  |  | 36,083
Total liabilities |  |  | 43,122 |  |  | 43,606
Stockholders’ equity |  |  | 1,085,974 |  |  | 1,045,478
Total liabilities and stockholders’ equity |  | $ | 1,129,096 |  | $ | 1,089,084
Condensed Statement Of Operations Information |
| Year Ended December 31,
| 2020 |  | 2019 |  |  | 2018
| (In thousands)
Income: |  |  |  |  |  |  |  |
Interest income | $ | 86 |  | $ | 828 |  | $ | 477
Investment trading activities, net and other |  | 6,583 |  |  | 5,308 |  |  | 6,003
Total income |  | 6,669 |  |  | 6,136 |  |  | 6,480
Expenses: |  |  |  |  |  |  |  |
Interest expense |  | 1,394 |  |  | 2,012 |  |  | 1,905
Operating expenses |  | 7,483 |  |  | 7,516 |  |  | 7,980
Total expenses |  | 8,877 |  |  | 9,528 |  |  | 9,885
Loss before income taxes |  | (2,208) |  |  | (3,392) |  |  | (3,405)
Income tax expense |  | (1,363) |  |  | 1,705 |  |  | 2,400
Loss before changes in undistributed earnings of subsidiaries |  | (845) |  |  | (5,097) |  |  | (5,805)
Equity in undistributed earnings from: |  |  |  |  |  |  |  |
Bank subsidiary |  | 74,899 |  |  | 56,114 |  |  | 87,128
Nonbank subsidiaries |  | 273 |  |  | 2,824 |  |  | 3,087
Net income | $ | 74,327 |  | $ | 53,841 |  | $ | 84,410
Condensed Statement Of Comprehensive Income Information |
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
| (In thousands)
Net income | $ | 74,327 |  | $ | 53,841 |  | $ | 84,410
Other comprehensive loss before tax: |  |  |  |  |  |  |  |
Other comprehensive income from bank subsidiary |  | 12,030 |  |  | 9,955 |  |  | (8,014)
Other comprehensive loss before taxes |  | 12,030 |  |  | 9,955 |  |  | (8,014)
Income tax effect |  | - |  |  | - |  |  | -
Other comprehensive loss after taxes |  | 12,030 |  |  | 9,955 |  |  | (8,014)
Comprehensive income | $ | 86,357 |  | $ | 63,796 |  | $ | 76,396
Condensed Statement Of Cash Flows Information |
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
| (In thousands)
Cash flows from operating activities: |  |  |  |  |  |  |  |
Net income | $ | 74,327 |  | $ | 53,841 |  | $ | 84,410
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |  |  |
Equity in undistributed earnings from banking subsidiary |  | (74,899) |  |  | (56,114) |  |  | (87,128)
Equity in undistributed earnings from nonbanking subsidiaries |  | (273) |  |  | (2,824) |  |  | (3,087)
Stock-based compensation |  | 2,170 |  |  | 2,134 |  |  | 1,401
Deferred income tax, net |  | (2,637) |  |  | - |  |  | 2,230
Net (increase) decrease in other assets |  | 12 |  |  | 458 |  |  | 372
Net (decrease) increase in accrued expenses and other liabilities |  | (486) |  |  | 64 |  |  | 203
Dividends from banking subsidiary |  | 26,100 |  |  | 20,000 |  |  | 37,700
Dividends from non-banking subsidiary |  | 9,531 |  |  | 6,017 |  |  | 4,000
Net cash provided by operating activities |  | 33,845 |  |  | 23,576 |  |  | 40,101
Cash flows from investing activities: |  |  |  |  |  |  |  |
Net increase in due from bank subsidiary, net |  | (1,984) |  |  | - |  |  | -
Net decrease (increase) in due to non-bank subsidiary, net |  | - |  |  | (14) |  |  | 14
Proceeds from sales of premises and equipment |  | 282 |  |  | 310 |  |  | 200
Capital contribution to banking subsidiary |  | (1,703) |  |  | (1,720) |  |  | (1,105)
Capital contribution to non-banking subsidiary |  | (9,013) |  |  | (13,518) |  |  | (24)
Additions to premises and equipment |  | (295) |  |  | (319) |  |  | (97)
Net cash (used in) investing activities |  | (12,713) |  |  | (15,261) |  |  | (1,012)
Cash flows from financing activities: |  |  |  |  |  |  |  |
Proceeds from exercise of stock options and lapsed restricted units, net |  | 583 |  |  | 1,294 |  |  | 508
Purchase of treasury stock |  | (2,226) |  |  | - |  |  | -
Dividends paid |  | (20,892) |  |  | (20,884) |  |  | (24,820)
Net cash used in financing activities |  | (22,535) |  |  | (19,590) |  |  | (24,312)
Net change in cash and cash equivalents |  | (1,403) |  |  | (11,275) |  |  | 14,777
Cash and cash equivalents at beginning of year |  | 27,932 |  |  | 39,207 |  |  | 24,430
Cash and cash equivalents at end of year | $ | 26,529 |  | $ | 27,932 |  | $ | 39,207

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