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v3.21.1

Loans | 3 Months Ended
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Mar. 31, 2021
Loans [Abstract] |
Loans | NOTE 4 - LOANS OFG’s loan portfolio is composed of four segments, commercial, mortgage, consumer, and auto. Loans are further segregated into classes which OFG uses when assessing and monitoring the risk and performance of the portfolio. The composition of the amortized cost basis of OFG’s loan portfolio at March 31, 2021 and December 31, 2020 was as follows:
|  | March 31, 2021 |  | December 31, 2020
|  | Non-PCD |  | PCD |  | Total |  | Non-PCD |  | PCD |  | Total
|  | (In thousands) |  | (In thousands)
Commercial loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial secured by real estate |  | $ | 825,735 |  | $ | 233,161 |  | $ | 1,058,896 |  | $ | 807,284 |  | $ | 243,229 |  | $ | 1,050,513
Other commercial and industrial |  |  | 620,184 |  |  | 39,632 |  |  | 659,816 |  |  | 647,444 |  |  | 39,931 |  |  | 687,375
Commercial Paycheck Protection Program (PPP Loans) |  |  | 311,823 |  |  | - |  |  | 311,823 |  |  | 289,218 |  |  | - |  |  | 289,218
US Loan Program |  |  | 381,183 |  |  | - |  |  | 381,183 |  |  | 374,904 |  |  | - |  |  | 374,904
|  |  | 2,138,925 |  |  | 272,793 |  |  | 2,411,718 |  |  | 2,118,850 |  |  | 283,160 |  |  | 2,402,010
Mortgage |  |  | 791,062 |  |  | 1,406,044 |  |  | 2,197,106 |  |  | 823,443 |  |  | 1,459,932 |  |  | 2,283,375
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Personal loans |  |  | 301,204 |  |  | 814 |  |  | 302,018 |  |  | 313,257 |  |  | 1,043 |  |  | 314,300
Credit lines |  |  | 41,600 |  |  | 306 |  |  | 41,906 |  |  | 43,805 |  |  | 351 |  |  | 44,156
Credit cards |  |  | 52,066 |  |  | - |  |  | 52,066 |  |  | 56,185 |  |  | - |  |  | 56,185
Overdraft |  |  | 203 |  |  | - |  |  | 203 |  |  | 305 |  |  | - |  |  | 305
Auto |  |  | 1,565,473 |  |  | 23,036 |  |  | 1,588,509 |  |  | 1,534,269 |  |  | 27,533 |  |  | 1,561,802
|  |  | 1,960,546 |  |  | 24,156 |  |  | 1,984,702 |  |  | 1,947,821 |  |  | 28,927 |  |  | 1,976,748
|  |  | 4,890,533 |  |  | 1,702,993 |  |  | 6,593,526 |  |  | 4,890,114 |  |  | 1,772,019 |  |  | 6,662,133
Allowance for credit losses |  |  | (156,978) |  |  | (44,995) |  |  | (201,973) |  |  | (161,015) |  |  | (43,794) |  |  | (204,809)
Total loans held for investment |  |  | 4,733,555 |  |  | 1,657,998 |  |  | 6,391,553 |  |  | 4,729,099 |  |  | 1,728,225 |  |  | 6,457,324
Mortgage loans held for sale |  |  | 38,220 |  |  | - |  |  | 38,220 |  |  | 41,654 |  |  | - |  |  | 41,654
Other loans held for sale |  |  | 2,306 |  |  | - |  |  | 2,306 |  |  | 2,281 |  |  | - |  |  | 2,281
Total loans held for sale |  |  | 40,526 |  |  | - |  |  | 40,526 |  |  | 43,935 |  |  | - |  |  | 43,935
Total loans, net |  | $ | 4,774,081 |  | $ | 1,657,998 |  | $ | 6,432,079 |  | $ | 4,773,034 |  | $ | 1,728,225 |  | $ | 6,501,259
At March 31, 2021 and December 31, 2020, OFG had carrying balances of $99.2 million and $99.1 million, respectively, in loans held for investment granted to the Puerto Rico government, including its instrumentalities, public corporations and municipalities, as part of the institutional commercial loan segment. The Bank’s loans to the Puerto Rico government amounting to $98.1 million and $98.0 million at March 31, 2021 and December 31, 2020, respectively, are general obligations of municipalities secured by ad valorem taxation, without limitation as to rate or amount, on all taxable property within the issuing municipalities in current status. The good faith, credit and unlimited taxing power of each issuing municipality are pledged for the payment of its general obligations.The tables below present the aging of the amortized cost of loans held for investment at March 31, 2021 and December 31, 2020, by class of loans. Mortgage loans past due include $40.8 million and $56.2 million, respectively, of delinquent loans in the GNMA buy-back option program. Servicers of loans underlying GNMA mortgage-backed securities must report as their own assets the defaulted loans that they have the option (but not the obligation) to repurchase, even when they elect not to exercise that option.
| March 31, 2021
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Loans 90+
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Days Past
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Due and
| 30-59 Days |  | 60-89 Days |  | 90+ Days |  | Total Past |  |  |  |  |  | Still
| Past Due |  | Past Due |  | Past Due |  | Due |  | Current |  | Total Loans |  | Accruing
| (In thousands)
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial secured by real estate | $ | 1,065 |  | $ | 1,250 |  | $ | 17,248 |  | $ | 19,563 |  | $ | 806,172 |  | $ | 825,735 |  | $ | -
Other commercial and industrial |  | 800 |  |  | 796 |  |  | 4,907 |  |  | 6,503 |  |  | 925,504 |  |  | 932,007 |  |  | -
US Loan Program |  | - |  |  | - |  |  | - |  |  | - |  |  | 381,183 |  |  | 381,183 |  |  | -
|  | 1,865 |  |  | 2,046 |  |  | 22,155 |  |  | 26,066 |  |  | 2,112,859 |  |  | 2,138,925 |  |  | -
Mortgage |  | 7,985 |  |  | 9,363 |  |  | 86,253 |  |  | 103,601 |  |  | 687,461 |  |  | 791,062 |  |  | 3,579
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Personal loans |  | 3,699 |  |  | 1,760 |  |  | 1,372 |  |  | 6,831 |  |  | 294,373 |  |  | 301,204 |  |  | -
Credit lines |  | 779 |  |  | 523 |  |  | 575 |  |  | 1,877 |  |  | 39,723 |  |  | 41,600 |  |  | -
Credit cards |  | 1,006 |  |  | 430 |  |  | 844 |  |  | 2,280 |  |  | 49,786 |  |  | 52,066 |  |  | -
Overdraft |  | 53 |  |  | - |  |  | - |  |  | 53 |  |  | 150 |  |  | 203 |  |  | -
Auto |  | 51,821 |  |  | 23,628 |  |  | 11,468 |  |  | 86,917 |  |  | 1,478,556 |  |  | 1,565,473 |  |  | -
|  | 57,358 |  |  | 26,341 |  |  | 14,259 |  |  | 97,958 |  |  | 1,862,588 |  |  | 1,960,546 |  |  | -
Total loans | $ | 67,208 |  | $ | 37,750 |  | $ | 122,667 |  | $ | 227,625 |  | $ | 4,662,908 |  | $ | 4,890,533 |  | $ | 3,579
| December 31, 2020
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Loans 90+
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Days Past
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Due and
| 30-59 Days |  | 60-89 Days |  | 90+ Days |  | Total Past |  |  |  |  |  | Still
| Past Due |  | Past Due |  | Past Due |  | Due |  | Current |  | Total Loans |  | Accruing
| (In thousands)
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial secured by real estate | $ | 2,781 |  | $ | 750 |  | $ | 17,862 |  | $ | 21,393 |  | $ | 785,891 |  | $ | 807,284 |  | $ | -
Other commercial and industrial |  | 1,674 |  |  | 234 |  |  | 4,695 |  |  | 6,603 |  |  | 930,059 |  |  | 936,662 |  |  | -
US Loan Program |  | 2,604 |  |  | - |  |  | - |  |  | 2,604 |  |  | 372,300 |  |  | 374,904 |  |  | -
|  | 7,059 |  |  | 984 |  |  | 22,557 |  |  | 30,600 |  |  | 2,088,250 |  |  | 2,118,850 |  |  | -
Mortgage |  | 7,385 |  |  | 14,953 |  |  | 101,528 |  |  | 123,866 |  |  | 699,577 |  |  | 823,443 |  |  | 3,974
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Personal loans |  | 4,784 |  |  | 2,515 |  |  | 2,062 |  |  | 9,361 |  |  | 303,896 |  |  | 313,257 |  |  | -
Credit lines |  | 2,136 |  |  | 476 |  |  | 1,269 |  |  | 3,881 |  |  | 39,924 |  |  | 43,805 |  |  | -
Credit cards |  | 1,357 |  |  | 824 |  |  | 1,585 |  |  | 3,766 |  |  | 52,419 |  |  | 56,185 |  |  | -
Overdraft |  | 138 |  |  | - |  |  | - |  |  | 138 |  |  | 167 |  |  | 305 |  |  | -
Auto |  | 57,176 |  |  | 31,181 |  |  | 20,485 |  |  | 108,842 |  |  | 1,425,427 |  |  | 1,534,269 |  |  | -
|  | 65,591 |  |  | 34,996 |  |  | 25,401 |  |  | 125,988 |  |  | 1,821,833 |  |  | 1,947,821 |  |  | -
Total loans | $ | 80,035 |  | $ | 50,933 |  | $ | 149,486 |  | $ | 280,454 |  | $ | 4,609,660 |  | $ | 4,890,114 |  | $ | 3,974
Upon adoption of CECL, OFG elected to maintain pools of loans that were previously accounted for under ASC 310-30 and will continue to account for these pools as a unit of account. As such, PCD loans are not included in the table above. Non-accrual Loans The following table presents the amortized cost basis of loans on nonaccrual status as of March 31, 2021 and December 31, 2020:
| March 31, 2021 |  | December 31, 2020
| Nonaccrual with |  | Nonaccrual with no |  |  |  | Nonaccrual with |  | Nonaccrual with no |  |
| Allowance |  | Allowance |  |  |  | Allowance |  | Allowance |  |
| for Credit Loss |  | for Credit Loss |  | Total |  | for Credit Loss |  | for Credit Loss |  | Total
| (In thousands) |  | (In thousands)
Non-PCD: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial secured by real estate | $ | 17,019 |  | $ | 19,915 |  | $ | 36,934 |  | $ | 15,225 |  | $ | 21,462 |  | $ | 36,687
Other commercial and industrial |  | 2,701 |  |  | 3,141 |  |  | 5,842 |  |  | 2,138 |  |  | 3,174 |  |  | 5,312
|  | 19,720 |  |  | 23,056 |  |  | 42,776 |  |  | 17,363 |  |  | 24,636 |  |  | 41,999
Mortgage |  | 24,128 |  |  | 18,356 |  |  | 42,484 |  |  | 24,920 |  |  | 17,747 |  |  | 42,667
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Personal loans |  | 1,132 |  |  | 315 |  |  | 1,447 |  |  | 1,752 |  |  | 377 |  |  | 2,129
Personal lines of credit |  | 609 |  |  | - |  |  | 609 |  |  | 1,272 |  |  | - |  |  | 1,272
Credit cards |  | 845 |  |  | - |  |  | 845 |  |  | 1,586 |  |  | - |  |  | 1,586
Auto and leasing |  | 11,842 |  |  | - |  |  | 11,842 |  |  | 20,766 |  |  | - |  |  | 20,766
|  | 14,428 |  |  | 315 |  |  | 14,743 |  |  | 25,376 |  |  | 377 |  |  | 25,753
Total non-accrual loans | $ | 58,276 |  | $ | 41,727 |  | $ | 100,003 |  | $ | 67,659 |  | $ | 42,760 |  | $ | 110,419
PCD: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial secured by real estate | $ | 29,795 |  | $ | 4,010 |  | $ | 33,805 |  | $ | 31,338 |  | $ | 4,031 |  | $ | 35,369
Other commercial and industrial |  | 1,102 |  |  | - |  |  | 1,102 |  |  | 1,102 |  |  | - |  |  | 1,102
|  | 30,897 |  |  | 4,010 |  |  | 34,907 |  |  | 32,440 |  |  | 4,031 |  |  | 36,471
Mortgage |  | 957 |  |  | - |  |  | 957 |  |  | 1,003 |  |  | - |  |  | 1,003
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Personal loans |  | - |  |  | - |  |  | - |  |  | 1 |  |  | - |  |  | 1
|  | - |  |  | - |  |  | - |  |  | 1 |  |  | - |  |  | 1
Total non-accrual loans | $ | 31,854 |  | $ | 4,010 |  | $ | 35,864 |  | $ | 33,444 |  | $ | 4,031 |  | $ | 37,475
| $ | 90,130 |  | $ | 45,737 |  | $ | 135,867 |  | $ | 101,103 |  | $ | 46,791 |  | $ | 147,894
Delinquent residential mortgage loans insured or guaranteed under applicable FHA and VA programs are classified as non-performing loans when they become 90 days or more past due but are not placed in non-accrual status until they become 12 months or more past due, since they are insured loans. Therefore, those loans are included as non-performing loans but excluded from non-accrual loans. At March 31, 2021 and December 31 2020, loans whose terms have been extended and which were classified as troubled-debt restructurings that were not included in non-accrual loans amounted to $119.5 million and $109.2 million, respectively, as they were performing under their new terms. Modifications OFG offers various types of concessions when modifying a loan. Concessions made to the original contractual terms of the loan typically consists of the deferral of interest and/or principal payments due to deterioration in the borrowers' financial condition. In these cases, the principal balance on the TDR had matured and/or was in default at the time of restructure. The amount of outstanding commitments to lend additional funds to commercial borrowers whose terms have been modified in TDRs amounted to $3.7 million and $7.7 million at March 31, 2021 and December 31, 2020, respectively. The following table presents the troubled-debt restructurings in all loan portfolios at March 31, 2021 and December 31, 2020.
| March 31, 2021
|  |  |  |  |  |  | Related
| Accruing |  | Non-accruing |  | Total |  | Allowance
| (In thousands)
Commercial |  |  |  |  |  |  |  |  |  |  |
Commercial secured by real estate | $ | 9,911 |  | $ | 16,279 |  | $ | 26,190 |  | $ | 201
US loan program |  | 7,157 |  | $ | - |  | $ | 7,157 |  | $ | 252
Other commercial and industrial |  | 3,741 |  |  | 363 |  |  | 4,104 |  |  | 104
|  | 20,809 |  |  | 16,642 |  |  | 37,451 |  |  | 557
Mortgage |  | 93,930 |  |  | 11,378 |  |  | 105,308 |  |  | 4,578
Consumer |  |  |  |  |  |  |  |  |  |  |
Personal loans |  | 4,436 |  | $ | 91 |  |  | 4,527 |  |  | 237
Auto and leasing |  | 300 |  | $ | 67 |  |  | 367 |  |  | 21
|  | 4,736 |  |  | 158 |  |  | 4,894 |  |  | 258
Total loans | $ | 119,475 |  | $ | 28,178 |  | $ | 147,653 |  | $ | 5,393
| December 31, 2020
|  |  |  |  |  |  | Related
| Accruing |  | Non-accruing |  | Total |  | Allowance
| (In thousands)
Commercial |  |  |  |  |  |  |  |  |  |  |
Commercial secured by real estate | $ | 5,319 |  | $ | 16,609 |  | $ | 21,928 |  | $ | 72
US loan program |  | 7,157 |  |  | - |  |  | 7,157 |  |  | 345
Other commercial and industrial |  | 3,872 |  |  | 375 |  |  | 4,247 |  |  | 59
|  | 16,348 |  |  | 16,984 |  |  | 33,332 |  |  | 476
Mortgage |  | 87,539 |  |  | 11,202 |  |  | 98,741 |  |  | 4,882
Consumer |  |  |  |  |  |  |  |  |  |  |
Personal loans |  | 4,944 |  |  | 67 |  |  | 5,011 |  |  | 257
Auto and leasing |  | 331 |  |  | 44 |  |  | 375 |  |  | 23
|  | 5,275 |  |  | 111 |  |  | 5,386 |  |  | 280
Total loans | $ | 109,162 |  | $ | 28,297 |  | $ | 137,459 |  | $ | 5,638
TDRs disclosed above were not related to Covid-19 modifications. Section 4013 of CARES Act and the "Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus (Revised)" provided banks an option to elect to not account for certain loan modifications related to Covid-19 as TDRs as long as the borrowers were not more than 30 days past due as of December 31, 2019 and at the time of modification program implementation, respectively, and meets other applicable criteria. OFG’s loan deferrals outstanding balances at March 31, 2021 and December 31, 2020 of approximately $81.7 million and $95.7 million resulting from the Covid-19 pandemic were not classified as a TDR. Upon adoption of CECL, Oriental elected to maintain pools of loans that were previously accounted for under ASC 310-30 and will continue to account for these pools as a unit of account. As such, PCD loans are not included in the table above. Loan modifications that are considered TDR loans completed during the quarters ended March 31, 2021 and 2020 were as follows:
| Quarter Ended March 31, 2021
| Number of contracts |  | Pre-Modification Outstanding Recorded Investment |  | Pre-Modification Weighted Average Rate |  | Pre-Modification Weighted Average Term (in Months) |  | Post-Modification Outstanding Recorded Investment |  | Post-Modification Weighted Average Rate |  | Post-Modification Weighted Average Term (in Months)
| (Dollars in thousands)
Mortgage | 26 |  | $ | 3,557 |  | 3.99% |  | 300 |  | $ | 3,580 |  | 3.61% |  | 333
Commercial | 2 |  |  | 185 |  | 7.21% |  | 58 |  |  | 204 |  | 6.80% |  | 58
Consumer | 2 |  |  | 16 |  | 11.76% |  | 54 |  |  | 17 |  | 9.93% |  | 63
Auto | 5 |  |  | 82 |  | 6.81% |  | 66 |  |  | 82 |  | 9.81% |  | 36
| Quarter Ended March 31, 2020
| Number of contracts |  | Pre-Modification Outstanding Recorded Investment |  | Pre-Modification Weighted Average Rate |  | Pre-Modification Weighted Average Term (in Months) |  | Post-Modification Outstanding Recorded Investment |  | Post-Modification Weighted Average Rate |  | Post-Modification Weighted Average Term (in Months)
| (Dollars in thousands)
Mortgage | 26 |  | $ | 3,093 |  | 5.14% |  | 359 |  | $ | 3,046 |  | 4.29% |  | 360
Commercial | 1 |  |  | 281 |  | 8.00% |  | 105 |  |  | 281 |  | 6.00% |  | 240
Consumer | 15 |  |  | 199 |  | 13.70% |  | 67 |  |  | 204 |  | 11.05% |  | 82
Auto | 1 |  |  | 14 |  | 18.95% |  | 60 |  |  | 17 |  | 13.95% |  | 84
The following table presents troubled-debt restructurings for which there was a payment default during the twelve-month periods ended March 31, 2021 and 2020:
| Twelve month period ended March 31,
| 2021 |  |  | 2020
| Number of Contracts |  | Recorded Investment |  |  | Number of Contracts |  | Recorded Investment
| (Dollars in thousands)
Mortgage | 13 |  | $ | 1,507 |  |  | 26 |  | $ | 3,037
Consumer | - |  | $ | - |  |  | 107 |  | $ | 1,543
Auto | 10 |  | $ | 57 |  |  | - |  | $ | -
As of March 31, 2021, the recorded investment on residential mortgage loans collateralized by residential real estate property that were in the process of foreclosure amounted to $26.6 million. OFG commences the foreclosure process on residential real estate loans when a borrower becomes 120 days delinquent. Puerto Rico and the USVI require the foreclosure to be processed through the state’s court. Foreclosure timelines vary according to local jurisdiction law and investor guidelines. Occasionally, foreclosures may be delayed due to, among other reasons, mandatory mediations, bankruptcy, court delays and title issues. Collateral-dependent Loans The table below present the amortized cost of collateral-dependent loans held for investment at March 31, 2021 and December 31, 2020, by class of loans.
| March 31, 2021 |  | December 31, 2020
| (In thousands)
Commercial loans: |  |  |  |  |
Commercial secured by real estate | $ | 27,737 |  | $ | 29,279
PCD loans, except for single pooled loans, are not included in the table above as their unit of account is the loan pool. Credit Quality Indicators OFG categorizes its loans into loan grades based on relevant information about the ability of borrowers to service their debt, such as economic conditions, portfolio risk characteristics, prior loss experience, and the results of periodic credit reviews of individual loans. OFG uses the following definitions for loan grades: Pass: Loans classified as “pass” have a well-defined primary source of repayment very likely to be sufficient, with no apparent risk, strong financial position, minimal operating risk, profitability, liquidity and capitalization better than industry standards. Special Mention: Loans classified as “special mention” have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. Substandard: Loans classified as “substandard” are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful: Loans classified as “doubtful” have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, questionable and improbable. Loss: Loans classified as “loss” are considered uncollectible and of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the asset has absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off this worthless loan even though partial recovery may be effected in the future. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass loans. As of March 31, 2021 and based on the most recent analysis performed, the risk category of loans subject to risk rating by class of loans is as follows.
| Term Loans |  | Revolving |  |  |
| Amortized Cost Basis by Origination Year |  | Loans |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Amortized |  |
| 2021 |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | Prior |  | Cost Basis |  | Total
| (In thousands)
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial secured by real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loan grade: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 29,153 |  | $ | 126,942 |  | $ | 100,998 |  | $ | 91,870 |  | $ | 81,103 |  | $ | 214,032 |  | $ | 32,247 |  | $ | 676,345
Special Mention |  | 683 |  |  | 10,535 |  |  | 49,923 |  |  | 23,023 |  |  | 10,420 |  |  | 12,092 |  |  | 941 |  |  | 107,617
Substandard |  | 873 |  |  | 492 |  |  | 132 |  |  | 944 |  |  | 8,869 |  |  | 22,266 |  |  | 8,170 |  |  | 41,746
Doubtful |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 27 |  |  | - |  |  | 27
Loss |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Total commercial secured by real estate |  | 30,709 |  |  | 137,969 |  |  | 151,053 |  |  | 115,837 |  |  | 100,392 |  |  | 248,417 |  |  | 41,358 |  |  | 825,735
Other commercial and industrial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loan grade: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 134,725 |  |  | 285,991 |  |  | 57,689 |  |  | 71,665 |  |  | 13,104 |  |  | 15,498 |  |  | 291,380 |  |  | 870,052
Special Mention |  | 403 |  |  | 97 |  |  | 8,257 |  |  | 19,701 |  |  | 20 |  |  | - |  |  | 27,404 |  |  | 55,882
Substandard |  | 718 |  |  | 23 |  |  | 58 |  |  | 503 |  |  | 135 |  |  | 2,885 |  |  | 1,689 |  |  | 6,011
Doubtful |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 62 |  |  | 62
Loss |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Total other commercial and industrial: |  | 135,846 |  |  | 286,111 |  |  | 66,004 |  |  | 91,869 |  |  | 13,259 |  |  | 18,383 |  |  | 320,535 |  |  | 932,007
US Loan Program: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loan grade: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 25,365 |  |  | 63,707 |  |  | 64,054 |  |  | 77,425 |  |  | 1,174 |  |  | - |  |  | 88,957 |  |  | 320,682
Special Mention |  | 63 |  |  | - |  |  | 1,499 |  |  | 33,024 |  |  | - |  |  | - |  |  | 1,250 |  |  | 35,836
Substandard |  | - |  |  | 7,157 |  |  | - |  |  | 17,508 |  |  | - |  |  | - |  |  | - |  |  | 24,665
Doubtful |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Loss |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Total US loan program: |  | 25,428 |  |  | 70,864 |  |  | 65,553 |  |  | 127,957 |  |  | 1,174 |  |  | - |  |  | 90,207 |  |  | 381,183
Total commercial loans | $ | 191,983 |  | $ | 494,944 |  | $ | 282,610 |  | $ | 335,663 |  | $ | 114,825 |  | $ | 266,800 |  | $ | 452,100 |  | $ | 2,138,925
As of December 31, 2020 the risk category of loans subject to risk rating by class of loans is as follows.
| Term Loans |  |  |  |  |  |  |
| Amortized Cost Basis by Origination Year |  | Revolving |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Loans |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Amortized |  |  |  |
| 2020 |  | 2019 |  | 2018 |  | 2017 |  | 2016 |  | Prior |  | Cost Basis |  | Total
| (In thousands) |  |  |  |  |  |  |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial secured by real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loan grade: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 113,474 |  | $ | 105,156 |  | $ | 106,283 |  | $ | 81,338 |  | $ | 44,008 |  | $ | 187,189 |  | $ | 30,686 |  |  | $ | 668,134
Special Mention |  | 10,592 |  |  | 20,605 |  |  | 5,233 |  |  | 11,771 |  |  | 8,514 |  |  | 3,090 |  |  | 37,680 |  |  |  | 97,485
Substandard |  | 183 |  |  | 63 |  |  | 758 |  |  | 8,923 |  |  | 584 |  |  | 23,746 |  |  | 7,331 |  |  |  | 41,588
Doubtful |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 77 |  |  | - |  |  |  | 77
Total commercial secured by real estate |  | 124,249 |  |  | 125,824 |  |  | 112,274 |  |  | 102,032 |  |  | 53,106 |  |  | 214,102 |  |  | 75,697 |  |  |  | 807,284
Other commercial and industrial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loan grade: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 384,901 |  |  | 84,433 |  |  | 75,023 |  |  | 14,502 |  |  | 8,326 |  |  | 7,922 |  |  | 300,429 |  |  |  | 875,536
Special Mention |  | 151 |  |  | 8,242 |  |  | 19,626 |  |  | - |  |  | - |  |  | 3,337 |  |  | 23,732 |  |  |  | 55,088
Substandard |  | 207 |  |  | 66 |  |  | 486 |  |  | 164 |  |  | 2,809 |  |  | 119 |  |  | 2,122 |  |  |  | 5,973
Doubtful |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 65 |  |  |  | 65
Total other commercial and industrial: |  | 385,259 |  |  | 92,741 |  |  | 95,135 |  |  | 14,666 |  |  | 11,135 |  |  | 11,378 |  |  | 326,348 |  |  |  | 936,662
US Loan Program: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loan grade: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 68,688 |  |  | 62,264 |  |  | 77,762 |  |  | 7,124 |  |  | - |  |  | - |  |  | 98,324 |  |  |  | 314,162
Special Mention |  | - |  |  | 1,501 |  |  | 33,282 |  |  | - |  |  | - |  |  | - |  |  | 1,250 |  |  |  | 36,033
Substandard |  | 7,156 |  |  | - |  |  | 17,553 |  |  | - |  |  | - |  |  | - |  |  | - |  |  |  | 24,709
Total US loan program |  | 75,844 |  |  | 63,765 |  |  | 128,597 |  |  | 7,124 |  |  | - |  |  | - |  |  | 99,574 |  |  |  | 374,904
Total Commercial | $ | 585,352 |  | $ | 282,330 |  | $ | 336,006 |  | $ | 123,822 |  | $ | 64,241 |  | $ | 225,480 |  | $ | 501,619 |  |  | $ | 2,118,850
At March 31, 2021 and December 31, 2020, the balance of revolving loans converted to term loans was $22.4 million and $21.0 million, respectively. OFG considers the performance of the loan portfolio and its impact on the allowance for credit losses. For mortgage and consumer loan classes, OFG also evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity. The following tables presents the amortized cost in mortgage and consumer loans based on payment activity as of March 31, 2021:
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving Loans |  |  |
| Term Loans |  | Revolving |  | Converted to |  |  |
| Amortized Cost Basis by Origination Year |  | Loans |  | Term Loans |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Amortized |  | Amortized |  |
| 2021 |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | Prior |  | Cost Basis |  | Cost Basis |  | Total
| (In thousands)
Mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payment performance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing | $ | 1,401 |  | $ | 15,224 |  | $ | 19,075 |  | $ | 25,374 |  | $ | 31,350 |  | $ | 647,705 |  | $ | - |  | $ | - |  | $ | 740,129
Nonperforming |  | - |  |  | 292 |  |  | 848 |  |  | 576 |  |  | 1,239 |  |  | 47,978 |  |  | - |  |  | - |  |  | 50,933
Total mortgage loans: |  | 1,401 |  |  | 15,516 |  |  | 19,923 |  |  | 25,950 |  |  | 32,589 |  |  | 695,683 |  |  | - |  |  | - |  |  | 791,062
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Personal loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payment performance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | 26,562 |  |  | 80,435 |  |  | 102,397 |  |  | 50,340 |  |  | 24,050 |  |  | 15,975 |  |  | - |  |  | - |  |  | 299,759
Nonperforming |  | 41 |  |  | 287 |  |  | 297 |  |  | 311 |  |  | 105 |  |  | 404 |  |  | - |  |  | - |  |  | 1,445
Total personal loans |  | 26,603 |  |  | 80,722 |  |  | 102,694 |  |  | 50,651 |  |  | 24,155 |  |  | 16,379 |  |  | - |  |  | - |  |  | 301,204
Credit lines: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payment performance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 40,991 |  |  | - |  |  | 40,991
Nonperforming |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 609 |  |  | - |  |  | 609
Total credit lines |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 41,600 |  |  | - |  |  | 41,600
Credit cards: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payment performance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 51,221 |  |  | - |  |  | 51,221
Nonperforming |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 845 |  |  | - |  |  | 845
Total credit cards |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 52,066 |  |  | - |  |  | 52,066
Overdrafts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payment performance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 203 |  |  | - |  |  | 203
Nonperforming |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Total overdrafts |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 203 |  |  | - |  |  | 203
Total consumer loans |  | 26,603 |  |  | 80,722 |  |  | 102,694 |  |  | 50,651 |  |  | 24,155 |  |  | 16,379 |  |  | 93,869 |  |  | - |  |  | 395,073
Total mortgage and consumer loans | $ | 28,004 |  | $ | 96,238 |  | $ | 122,617 |  | $ | 76,601 |  | $ | 56,744 |  | $ | 712,062 |  | $ | 93,869 |  | $ | - |  | $ | 1,186,135
The following tables presents the amortized cost in mortgage and consumer loans based on payment activity as of December 31, 2020:
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving Loans |  |  |
| Term Loans |  | Revolving |  | Converted to |  |  |
| Amortized Cost Basis by Origination Year |  | Loans |  | Term Loans |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Amortized |  | Amortized |  |
| 2020 |  | 2019 |  | 2018 |  | 2017 |  | 2016 |  | Prior |  | Cost Basis |  | Cost Basis |  | Total
| (In thousands)
Mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payment performance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing | $ | 14,842 |  | $ | 20,516 |  | $ | 27,359 |  | $ | 33,088 |  | $ | 38,637 |  | $ | 642,045 |  | $ | - |  | $ | - |  | $ | 776,487
Nonperforming |  | - |  |  | 347 |  |  | 722 |  |  | 894 |  |  | 950 |  |  | 44,043 |  |  | - |  |  | - |  |  | 46,956
Total mortgage loans: |  | 14,842 |  |  | 20,863 |  |  | 28,081 |  |  | 33,982 |  |  | 39,587 |  |  | 686,088 |  |  | - |  |  | - |  |  | 823,443
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Personal loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payment performance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | 88,653 |  |  | 115,295 |  |  | 58,009 |  |  | 28,424 |  |  | 13,565 |  |  | 7,181 |  |  | - |  |  | - |  |  | 311,127
Nonperforming |  | 201 |  |  | 591 |  |  | 492 |  |  | 318 |  |  | 134 |  |  | 394 |  |  | - |  |  | - |  |  | 2,130
Total personal loans |  | 88,854 |  |  | 115,886 |  |  | 58,501 |  |  | 28,742 |  |  | 13,699 |  |  | 7,575 |  |  | - |  |  | - |  |  | 313,257
Credit lines: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payment performance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 42,531 |  |  | - |  |  | 42,531
Nonperforming |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 1,274 |  |  | - |  |  | 1,274
Total credit lines |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 43,805 |  |  | - |  |  | 43,805
Credit cards: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payment performance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 54,599 |  |  | - |  |  | 54,599
Nonperforming |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 1,586 |  |  | - |  |  | 1,586
Total credit cards |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 56,185 |  |  | - |  |  | 56,185
Overdrafts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payment performance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 305 |  |  | - |  |  | 305
Nonperforming |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Total overdrafts |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 305 |  |  | - |  |  | 305
Total consumer loans |  | 88,854 |  |  | 115,886 |  |  | 58,501 |  |  | 28,742 |  |  | 13,699 |  |  | 7,575 |  |  | 100,295 |  |  | - |  |  | 413,552
Total mortgage and consumer loans | $ | 103,696 |  | $ | 136,749 |  | $ | 86,582 |  | $ | 62,724 |  | $ | 53,286 |  | $ | 693,663 |  | $ | 100,295 |  | $ | - |  | $ | 1,236,995
OFG evaluates credit quality for auto loans and leases based on FICO score. The following table presents the amortized cost in auto loans and leases based on their most recent FICO score as of March 31, 2021 and December 31, 2020:
| Term Loans |  |  |
| Amortized Cost Basis by Origination Year |  |  |
| As of March 31, 2021 |  |  |
| 2021 |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | Prior |  | Total
| (In thousands)
Auto: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FICO score: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-660 |  | 29,952 |  |  | 122,644 |  |  | 107,378 |  |  | 93,079 |  |  | 54,146 |  |  | 45,453 |  |  | 452,652
661-699 |  | 22,478 |  |  | 90,880 |  |  | 64,106 |  |  | 43,649 |  |  | 22,486 |  |  | 20,131 |  |  | 263,730
700+ |  | 49,001 |  |  | 186,997 |  |  | 216,481 |  |  | 164,041 |  |  | 83,684 |  |  | 68,988 |  |  | 769,192
No FICO |  | 10,010 |  |  | 20,124 |  |  | 22,078 |  |  | 13,465 |  |  | 7,616 |  |  | 6,606 |  |  | 79,899
Total auto: | $ | 111,441 |  | $ | 420,645 |  | $ | 410,043 |  | $ | 314,234 |  | $ | 167,932 |  | $ | 141,178 |  | $ | 1,565,473
| Term Loans |  |  |
| Amortized Cost Basis by Origination Year |  |  |
| As of December 31, 2020 |  |  |
| 2020 |  | 2019 |  | 2018 |  | 2017 |  | 2016 |  | Prior |  | Total
| (In thousands)
Auto: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FICO score: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-660 |  | 121,878 |  |  | 112,476 |  |  | 97,725 |  |  | 56,935 |  |  | 30,307 |  |  | 22,360 |  |  | 441,681
661-699 |  | 84,673 |  |  | 68,698 |  |  | 44,633 |  |  | 23,308 |  |  | 13,571 |  |  | 9,031 |  |  | 243,914
700+ |  | 173,834 |  |  | 214,287 |  |  | 164,205 |  |  | 85,743 |  |  | 45,947 |  |  | 32,177 |  |  | 716,193
No FICO |  | 21,512 |  |  | 42,597 |  |  | 33,305 |  |  | 18,127 |  |  | 9,656 |  |  | 7,284 |  |  | 132,481
Total auto: | $ | 401,897 |  | $ | 438,058 |  | $ | 339,868 |  | $ | 184,113 |  | $ | 99,481 |  | $ | 70,852 |  | $ | 1,534,269
Upon adoption of CECL, OFG elected to maintain pools of loans that were previously accounted for under ASC 310-30 and will continue to account for these pools as a unit of account. As such, PCD loans are not included in the table above.

X
- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 + Details
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Period Type: | duration

X
- References No definition available. + Details
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Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
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