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Loans | 6 Months Ended
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Jun. 30, 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 June 30, 2021 and December 31, 2020 was as follows:
|  | June 30, 2021 |  | December 31, 2020
|  | Non-PCD |  | PCD |  | Total |  | Non-PCD |  | PCD |  | Total
|  | (In thousands) |  | (In thousands)
Commercial loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial secured by real estate |  | $ | 829,053 |  | $ | 224,987 |  | $ | 1,054,040 |  | $ | 807,284 |  | $ | 243,229 |  | $ | 1,050,513
Other commercial and industrial |  |  | 677,775 |  |  | 35,640 |  |  | 713,415 |  |  | 647,444 |  |  | 39,931 |  |  | 687,375
Commercial Paycheck Protection Program (PPP Loans) |  |  | 228,677 |  |  | - |  |  | 228,677 |  |  | 289,218 |  |  | - |  |  | 289,218
US commercial loans |  |  | 397,038 |  |  | - |  |  | 397,038 |  |  | 374,904 |  |  | - |  |  | 374,904
|  |  | 2,132,543 |  |  | 260,627 |  |  | 2,393,170 |  |  | 2,118,850 |  |  | 283,160 |  |  | 2,402,010
Mortgage |  |  | 760,168 |  |  | 1,324,274 |  |  | 2,084,442 |  |  | 823,443 |  |  | 1,459,932 |  |  | 2,283,375
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Personal loans |  |  | 300,631 |  |  | 673 |  |  | 301,304 |  |  | 313,257 |  |  | 1,043 |  |  | 314,300
Credit lines |  |  | 31,378 |  |  | 308 |  |  | 31,686 |  |  | 43,805 |  |  | 351 |  |  | 44,156
Credit cards |  |  | 49,153 |  |  | - |  |  | 49,153 |  |  | 56,185 |  |  | - |  |  | 56,185
Overdraft |  |  | 313 |  |  | - |  |  | 313 |  |  | 305 |  |  | - |  |  | 305
Auto |  |  | 1,618,788 |  |  | 19,236 |  |  | 1,638,024 |  |  | 1,534,269 |  |  | 27,533 |  |  | 1,561,802
|  |  | 2,000,263 |  |  | 20,217 |  |  | 2,020,480 |  |  | 1,947,821 |  |  | 28,927 |  |  | 1,976,748
|  |  | 4,892,974 |  |  | 1,605,118 |  |  | 6,498,092 |  |  | 4,890,114 |  |  | 1,772,019 |  |  | 6,662,133
Allowance for credit losses |  |  | (148,314) |  |  | (43,403) |  |  | (191,717) |  |  | (161,015) |  |  | (43,794) |  |  | (204,809)
Total loans held for investment |  |  | 4,744,660 |  |  | 1,561,715 |  |  | 6,306,375 |  |  | 4,729,099 |  |  | 1,728,225 |  |  | 6,457,324
Mortgage loans held for sale |  |  | 37,885 |  |  | - |  |  | 37,885 |  |  | 41,654 |  |  | - |  |  | 41,654
Other loans held for sale |  |  | 9,780 |  |  | - |  |  | 9,780 |  |  | 2,281 |  |  | - |  |  | 2,281
Total loans held for sale |  |  | 47,665 |  |  | - |  |  | 47,665 |  |  | 43,935 |  |  | - |  |  | 43,935
Total loans, net |  | $ | 4,792,325 |  | $ | 1,561,715 |  | $ | 6,354,040 |  | $ | 4,773,034 |  | $ | 1,728,225 |  | $ | 6,501,259
At June 30, 2021 and December 31, 2020, OFG had carrying balances of $99.3 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 $98.2 million and $98.0 million at June 30, 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 June 30, 2021 and December 31, 2020, by class of loans. Mortgage loans past due include $28.1 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.
| June 30, 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 | $ | 971 |  | $ | 335 |  | $ | 15,790 |  | $ | 17,096 |  | $ | 811,957 |  | $ | 829,053 |  | $ | -
Other commercial and industrial |  | 635 |  |  | 284 |  |  | 2,044 |  |  | 2,963 |  |  | 903,489 |  |  | 906,452 |  |  | -
US commercial loans |  | 1,490 |  |  | - |  |  | - |  |  | 1,490 |  |  | 395,548 |  |  | 397,038 |  |  | -
|  | 3,096 |  |  | 619 |  |  | 17,834 |  |  | 21,549 |  |  | 2,110,994 |  |  | 2,132,543 |  |  | -
Mortgage |  | 8,302 |  |  | 7,206 |  |  | 72,451 |  |  | 87,959 |  |  | 672,209 |  |  | 760,168 |  |  | 3,448
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Personal loans |  | 2,484 |  |  | 1,031 |  |  | 1,086 |  |  | 4,601 |  |  | 296,030 |  |  | 300,631 |  |  | -
Credit lines |  | 1,217 |  |  | 197 |  |  | 378 |  |  | 1,792 |  |  | 29,586 |  |  | 31,378 |  |  | -
Credit cards |  | 661 |  |  | 254 |  |  | 850 |  |  | 1,765 |  |  | 47,388 |  |  | 49,153 |  |  | -
Overdraft |  | 85 |  |  | - |  |  | 2 |  |  | 87 |  |  | 226 |  |  | 313 |  |  | -
Auto |  | 46,719 |  |  | 19,349 |  |  | 7,192 |  |  | 73,260 |  |  | 1,545,528 |  |  | 1,618,788 |  |  | -
|  | 51,166 |  |  | 20,831 |  |  | 9,508 |  |  | 81,505 |  |  | 1,918,758 |  |  | 2,000,263 |  |  | -
Total loans | $ | 62,564 |  | $ | 28,656 |  | $ | 99,793 |  | $ | 191,013 |  | $ | 4,701,961 |  | $ | 4,892,974 |  | $ | 3,448
| 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 commercial loans |  | 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 Current Expected Credit Losses accounting standard (“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 tables above. Non-accrual Loans The following table presents the amortized cost basis of loans on nonaccrual status as of June 30, 2021 and December 31, 2020:
| June 30, 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 | $ | 15,217 |  | $ | 19,162 |  | $ | 34,379 |  | $ | 15,225 |  | $ | 21,462 |  | $ | 36,687
Other commercial and industrial |  | 3,119 |  |  | 361 |  |  | 3,480 |  |  | 2,138 |  |  | 3,174 |  |  | 5,312
|  | 18,336 |  |  | 19,523 |  |  | 37,859 |  |  | 17,363 |  |  | 24,636 |  |  | 41,999
Mortgage |  | 21,092 |  |  | 21,913 |  |  | 43,005 |  |  | 24,920 |  |  | 17,747 |  |  | 42,667
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Personal loans |  | 927 |  |  | 298 |  |  | 1,225 |  |  | 1,752 |  |  | 377 |  |  | 2,129
Personal lines of credit |  | 389 |  |  | - |  |  | 389 |  |  | 1,272 |  |  | - |  |  | 1,272
Credit cards |  | 848 |  |  | - |  |  | 848 |  |  | 1,586 |  |  | - |  |  | 1,586
Auto and leasing |  | 7,605 |  |  | - |  |  | 7,605 |  |  | 20,766 |  |  | - |  |  | 20,766
|  | 9,769 |  |  | 298 |  |  | 10,067 |  |  | 25,376 |  |  | 377 |  |  | 25,753
Total non-accrual loans | $ | 49,197 |  | $ | 41,734 |  | $ | 90,931 |  | $ | 67,659 |  | $ | 42,760 |  | $ | 110,419
PCD: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial secured by real estate | $ | 27,730 |  | $ | 5,670 |  | $ | 33,400 |  | $ | 31,338 |  | $ | 4,031 |  | $ | 35,369
Other commercial and industrial |  | 1,102 |  |  | - |  |  | 1,102 |  |  | 1,102 |  |  | - |  |  | 1,102
|  | 28,832 |  |  | 5,670 |  |  | 34,502 |  |  | 32,440 |  |  | 4,031 |  |  | 36,471
Mortgage |  | 2,067 |  |  | - |  |  | 2,067 |  |  | 1,003 |  |  | - |  |  | 1,003
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Personal loans |  | - |  |  | - |  |  | - |  |  | 1 |  |  | - |  |  | 1
|  | - |  |  | - |  |  | - |  |  | 1 |  |  | - |  |  | 1
Total non-accrual loans | $ | 30,899 |  | $ | 5,670 |  | $ | 36,569 |  | $ | 33,444 |  | $ | 4,031 |  | $ | 37,475
| $ | 80,096 |  | $ | 47,404 |  | $ | 127,500 |  | $ | 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 June 30, 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 $122.3 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 $2.1 million and $7.7 million at June 30, 2021 and December 31, 2020, respectively. The following table presents the troubled-debt restructurings in all loan portfolios as of June 30, 2021 and December 31, 2020.
| June 30, 2021
|  |  |  |  |  |  | Related
| Accruing |  | Non-accruing |  | Total |  | Allowance
| (In thousands)
Commercial |  |  |  |  |  |  |  |  |  |  |
Commercial secured by real estate | $ | 11,448 |  | $ | 14,922 |  | $ | 26,370 |  | $ | 233
US commercial loans |  | 7,157 |  |  | - |  |  | 7,157 |  |  | 214
Other commercial and industrial |  | 3,594 |  |  | 350 |  |  | 3,944 |  |  | 64
|  | 22,199 |  |  | 15,272 |  |  | 37,471 |  |  | 511
Mortgage |  | 95,820 |  |  | 10,810 |  |  | 106,630 |  |  | 4,245
Consumer |  |  |  |  |  |  |  |  |  |  |
Personal loans |  | 4,000 |  |  | 139 |  |  | 4,139 |  |  | 199
Auto and leasing |  | 269 |  |  | 56 |  |  | 325 |  |  | 21
|  | 4,269 |  |  | 195 |  |  | 4,464 |  |  | 220
Total loans | $ | 122,288 |  | $ | 26,277 |  | $ | 148,565 |  | $ | 4,976
| December 31, 2020
|  |  |  |  |  |  | Related
| Accruing |  | Non-accruing |  | Total |  | Allowance
| (In thousands)
Commercial |  |  |  |  |  |  |  |  |  |  |
Commercial secured by real estate | $ | 10,047 |  | $ | 16,609 |  | $ | 26,656 |  | $ | 223
US commercial loans |  | 7,157 |  |  | - |  |  | 7,157 |  |  | 345
Other commercial and industrial |  | 3,872 |  |  | 375 |  |  | 4,247 |  |  | 59
|  | 21,076 |  |  | 16,984 |  |  | 38,060 |  |  | 627
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 | $ | 113,890 |  | $ | 28,297 |  | $ | 142,187 |  | $ | 5,789
The following table presents the troubled-debt restructurings by loan portfolios and modification type as of June 30, 2021 and December 31, 2020.
| June 30, 2021
|  |  |  |  | Combination of reduction |  |  |  |  |
| Reduction in |  | Maturity or term |  | in interest rate |  |  |  |  |  |
| interest rate |  | extension |  | and extension of maturity |  | Forbearance |  | Total
| (In thousands)
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial secured by real estate | $ | 911 |  | $ | 4,651 |  | $ | 20,808 |  | $ | - |  | $ | 26,370
US commercial loans |  | 7,157 |  |  | - |  |  | - |  |  | - |  |  | 7,157
Other commercial and industrial |  | 723 |  |  | 2,682 |  |  | 539 |  |  | - |  |  | 3,944
|  | 8,791 |  |  | 7,333 |  |  | 21,347 |  |  | - |  |  | 37,471
Mortgage |  | 28,370 |  |  | 7,493 |  |  | 33,675 |  |  | 37,092 |  |  | 106,630
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |
Personal loans |  | 1,949 |  |  | 312 |  |  | 1,606 |  |  | 272 |  |  | 4,139
Auto and leasing |  | 62 |  |  | - |  |  | 45 |  |  | 218 |  |  | 325
|  | 2,011 |  |  | 312 |  |  | 1,651 |  |  | 490 |  |  | 4,464
Total loans | $ | 39,172 |  | $ | 15,138 |  | $ | 56,673 |  | $ | 37,582 |  | $ | 148,565
| December 31, 2020
|  |  |  |  | Combination of reduction |  |  |  |  |
| Reduction in |  | Maturity or term |  | in interest rate |  |  |  |  |  |
| interest rate |  | extension |  | and extension of maturity |  | Forbearance |  | Total
| (In thousands)
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial secured by real estate | $ | 740 |  | $ | 3,926 |  | $ | 21,990 |  | $ | - |  | $ | 26,656
US commercial loans |  | 7,157 |  |  | - |  |  | - |  |  | - |  |  | 7,157
Other commercial and industrial |  | 718 |  |  | 2,960 |  |  | 569 |  |  | - |  |  | 4,247
|  | 8,615 |  |  | 6,886 |  |  | 22,559 |  |  | - |  |  | 38,060
Mortgage |  | 27,593 |  |  | 6,271 |  |  | 29,734 |  |  | 35,143 |  |  | 98,741
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |
Personal loans |  | 2,315 |  |  | 407 |  |  | 1,896 |  |  | 393 |  |  | 5,011
Auto and leasing |  | 38 |  |  | - |  |  | 38 |  |  | 299 |  |  | 375
|  | 2,353 |  |  | 407 |  |  | 1,934 |  |  | 692 |  |  | 5,386
Total loans | $ | 38,561 |  | $ | 13,564 |  | $ | 54,227 |  | $ | 35,835 |  | $ | 142,187
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 June 30, 2021 and December 31, 2020 of approximately $74.9 million and $95.7 million resulting from the Covid-19 pandemic were not classified as a TDR, which consist of commercial loans from well-capitalized customers in the hospitality industry and FHA and VA insured mortgage loans. 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 and six-month periods ended June 30, 2021 and 2020 were as follows:
| Quarter Ended June 30, 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 | 44 |  | $ | 5,104 |  | 4.24% |  | 303 |  | $ | 4,880 |  | 3.59% |  | 349
Commercial | 1 |  |  | 991 |  | 4.25% |  | 175 |  |  | 880 |  | 5.75% |  | 60
Consumer | 7 |  |  | 139 |  | 12.76% |  | 72 |  |  | 139 |  | 9.47% |  | 76
Auto | 3 |  |  | 44 |  | 13.15% |  | 78 |  |  | 44 |  | 10.15% |  | 73
| Six-Month Period Ended June 30, 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 | 70 |  | $ | 8,661 |  | 4.14% |  | 302 |  | $ | 8,460 |  | 3.60% |  | 342
Commercial | 3 |  |  | 1,176 |  | 4.72% |  | 157 |  |  | 1,085 |  | 5.95% |  | 60
Consumer | 9 |  |  | 155 |  | 12.65% |  | 70 |  |  | 156 |  | 9.52% |  | 75
Auto | 8 |  |  | 126 |  | 9.04% |  | 70 |  |  | 126 |  | 9.93% |  | 49
| Quarter Ended June 30, 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)
Consumer | 1 |  |  | 21 |  | 5.99% |  | 60 |  |  | 20 |  | 6.50% |  | 72
| Six-Month Period Ended June 30, 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 | 16 |  |  | 220 |  | 12.95% |  | 67 |  |  | 225 |  | 10.63% |  | 81
The following table presents troubled-debt restructurings for which there was a payment default during the twelve-month periods ended June 30, 2021 and 2020:
| Twelve month period ended June 30,
| 2021 |  |  | 2020
| Number of Contracts |  | Recorded Investment |  |  | Number of Contracts |  | Recorded Investment
| (Dollars in thousands)
Mortgage | 19 |  | $ | 2,191 |  |  | 17 |  | $ | 2,267
Consumer | 1 |  | $ | 14 |  |  | 90 |  | $ | 1,231
Auto | 11 |  | $ | 64 |  |  | 3 |  | $ | 32
As of June 30, 2021, the recorded investment on residential mortgage loans collateralized by residential real estate property that were in the process of foreclosure amounted to $26.1 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 June 30, 2021 and December 31, 2020, by class of loans.
| June 30, 2021 |  | December 31, 2020
| (In thousands)
Commercial loans: |  |  |  |  |
Commercial secured by real estate | $ | 25,189 |  | $ | 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 June 30, 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 | $ | 59,344 |  | $ | 125,832 |  | $ | 97,799 |  | $ | 84,239 |  | $ | 66,936 |  | $ | 206,046 |  | $ | 37,274 |  | $ | 677,470
Special Mention |  | 672 |  |  | 10,436 |  |  | 51,806 |  |  | 24,581 |  |  | 10,657 |  |  | 12,031 |  |  | 956 |  |  | 111,139
Substandard |  | 850 |  |  | 314 |  |  | 69 |  |  | 905 |  |  | 8,598 |  |  | 21,130 |  |  | 1,289 |  |  | 33,155
Doubtful |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 25 |  |  | 7,264 |  |  | 7,289
Loss |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Total commercial secured by real estate |  | 60,866 |  |  | 136,582 |  |  | 149,674 |  |  | 109,725 |  |  | 86,191 |  |  | 239,232 |  |  | 46,783 |  |  | 829,053
Other commercial and industrial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loan grade: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 289,682 |  |  | 165,556 |  |  | 55,504 |  |  | 45,725 |  |  | 10,762 |  |  | 7,459 |  |  | 271,518 |  |  | 846,206
Special Mention |  | 89 |  |  | 320 |  |  | 8,172 |  |  | 19,597 |  |  | 17 |  |  | - |  |  | 28,409 |  |  | 56,604
Substandard |  | 446 |  |  | 22 |  |  | 163 |  |  | 496 |  |  | 108 |  |  | 106 |  |  | 2,243 |  |  | 3,584
Doubtful |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 58 |  |  | 58
Loss |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Total other commercial and industrial: |  | 290,217 |  |  | 165,898 |  |  | 63,839 |  |  | 65,818 |  |  | 10,887 |  |  | 7,565 |  |  | 302,228 |  |  | 906,452
US commercial loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loan grade: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 37,333 |  |  | 59,081 |  |  | 50,358 |  |  | 77,683 |  |  | - |  |  | - |  |  | 134,118 |  |  | 358,573
Special Mention |  | - |  |  | - |  |  | 1,512 |  |  | 12,339 |  |  | - |  |  | - |  |  | - |  |  | 13,851
Substandard |  | - |  |  | 7,157 |  |  | - |  |  | 17,457 |  |  | - |  |  | - |  |  | - |  |  | 24,614
Doubtful |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Loss |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Total US commercial loans: |  | 37,333 |  |  | 66,238 |  |  | 51,870 |  |  | 107,479 |  |  | - |  |  | - |  |  | 134,118 |  |  | 397,038
Total commercial loans | $ | 388,416 |  | $ | 368,718 |  | $ | 265,383 |  | $ | 283,022 |  | $ | 97,078 |  | $ | 246,797 |  | $ | 483,129 |  | $ | 2,132,543
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
Loss |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  |  | -
Total other commercial and industrial: |  | 385,259 |  |  | 92,741 |  |  | 95,135 |  |  | 14,666 |  |  | 11,135 |  |  | 11,378 |  |  | 326,348 |  |  |  | 936,662
US commercial loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
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 commercial loans |  | 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 June 30, 2021 and December 31, 2020, the balance of revolving loans converted to term loans was $20.0 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 June 30, 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 | $ | 8,584 |  | $ | 15,005 |  | $ | 15,576 |  | $ | 21,657 |  | $ | 26,204 |  | $ | 620,368 |  | $ | - |  | $ | - |  | $ | 707,394
Nonperforming |  | - |  |  | 126 |  |  | 536 |  |  | 465 |  |  | 2,500 |  |  | 49,147 |  |  | - |  |  | - |  |  | 52,774
Total mortgage loans: |  | 8,584 |  |  | 15,131 |  |  | 16,112 |  |  | 22,122 |  |  | 28,704 |  |  | 669,515 |  |  | - |  |  | - |  |  | 760,168
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Personal loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payment performance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | 61,458 |  |  | 72,563 |  |  | 90,158 |  |  | 43,084 |  |  | 19,871 |  |  | 12,272 |  |  | - |  |  | - |  |  | 299,406
Nonperforming |  | 124 |  |  | 182 |  |  | 179 |  |  | 273 |  |  | 93 |  |  | 374 |  |  | - |  |  | - |  |  | 1,225
Total personal loans |  | 61,582 |  |  | 72,745 |  |  | 90,337 |  |  | 43,357 |  |  | 19,964 |  |  | 12,646 |  |  | - |  |  | - |  |  | 300,631
Credit lines: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payment performance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 30,989 |  |  | - |  |  | 30,989
Nonperforming |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 389 |  |  | - |  |  | 389
Total credit lines |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 31,378 |  |  | - |  |  | 31,378
Credit cards: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payment performance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 48,305 |  |  | - |  |  | 48,305
Nonperforming |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 848 |  |  | - |  |  | 848
Total credit cards |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 49,153 |  |  | - |  |  | 49,153
Overdrafts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payment performance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 313 |  |  | - |  |  | 313
Nonperforming |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Total overdrafts |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 313 |  |  | - |  |  | 313
Total consumer loans |  | 61,582 |  |  | 72,745 |  |  | 90,337 |  |  | 43,357 |  |  | 19,964 |  |  | 12,646 |  |  | 80,844 |  |  | - |  |  | 381,475
Total mortgage and consumer loans | $ | 70,166 |  | $ | 87,876 |  | $ | 106,449 |  | $ | 65,479 |  | $ | 48,668 |  | $ | 682,161 |  | $ | 80,844 |  | $ | - |  | $ | 1,141,643
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 June 30, 2021 and December 31, 2020:
| Term Loans |  |  |
| Amortized Cost Basis by Origination Year |  |  |
| As of June 30, 2021 |  |  |
| 2021 |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | Prior |  | Total
| (In thousands)
Auto: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FICO score: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-660 |  | 75,895 |  |  | 106,442 |  |  | 92,663 |  |  | 79,610 |  |  | 46,518 |  |  | 35,412 |  |  | 436,540
661-699 |  | 57,205 |  |  | 90,482 |  |  | 59,027 |  |  | 41,148 |  |  | 20,923 |  |  | 16,544 |  |  | 285,329
700+ |  | 123,165 |  |  | 187,673 |  |  | 211,175 |  |  | 156,703 |  |  | 78,045 |  |  | 58,314 |  |  | 815,075
No FICO |  | 21,891 |  |  | 14,994 |  |  | 20,524 |  |  | 12,204 |  |  | 6,889 |  |  | 5,342 |  |  | 81,844
Total auto: | $ | 278,156 |  | $ | 399,591 |  | $ | 383,389 |  | $ | 289,665 |  | $ | 152,375 |  | $ | 115,612 |  | $ | 1,618,788
| 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 tables above.

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- 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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