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Subsequent Events | 6 Months Ended
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Jun. 30, 2021
Subsequent Events [Abstract] |
Subsequent Events | NOTE 25 – SUBSEQUENT EVENTS On March 29, 2021, OFG announced the redemption of all three series of currently outstanding preferred stock, each at a redemption price of $25.00 per share. The last remaining series of preferred stock, the Series D Preferred Stock, was redeemed on July 15, 2021. On July 28, 2021, OFG announced that its Board of Directors increased the regular quarterly cash dividend by 50%, to $0.12 per common share from $0.08 per share, for the quarter ending September 30, 2021. Such quarterly dividends are only payable as and when declared by the Board and there is no entitlement to any dividends prior thereto On July 28, 2021, OFG announced that its Board of Directors approved a new stock repurchase authorization plan of $50.0 million as part of OFG’s capital actions thus far in 2021. The new stock repurchase program replaces and supersedes the previous stock repurchase program approved by the Board.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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