XML 34 R23.htm IDEA: XBRL DOCUMENT
v3.21.2

Regulatory Capital Requirements | 6 Months Ended
--- | ---
Jun. 30, 2021
Regulatory Capital Requirements [Abstract] |
Regulatory Capital Requirements | NOTE 15 — REGULATORY CAPITAL REQUIREMENTS Regulatory Capital Requirements OFG (on a consolidated basis) and the Bank are subject to various regulatory capital requirements administered by federal and Puerto Rico banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on OFG’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, OFG and the Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. As of June 30, 2021 and December 31, 2020, OFG and the Bank met all capital adequacy requirements to which they are subject. As of June 30, 2021 and December 31, 2020, OFG and the Bank are “well capitalized” under the regulatory framework for prompt corrective action. To be categorized as “well capitalized,” an institution must maintain minimum CET1 risk-based, Tier 1 risk-based, total risk-based, and Tier 1 leverage ratios as set forth in the tables presented below. OFG’s and the Bank’s actual capital amounts and ratios as of June 30, 2021 and December 31, 2020 are as follows:
|  |  |  |  |  | Minimum Capital |  |  |  |  |
|  |  |  |  |  | Requirement (including |  | Minimum to be Well
| Actual |  | capital conservation buffer) |  | Capitalized
| Amount |  | Ratio |  | Amount |  | Ratio |  |  | Amount |  | Ratio
| (Dollars in thousands)
OFG Bancorp Ratios |  |  |  |  |  |  |  |  |  |  |  |  |  |
As of June 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total capital to risk-weighted assets | $ | 1,094,786 |  | 15.95% |  | $ | 720,498 |  | 10.50% |  | $ | 686,189 |  | 10.00%
Tier 1 capital to risk-weighted assets | $ | 1,008,785 |  | 14.70% |  | $ | 583,261 |  | 8.50% |  | $ | 548,951 |  | 8.00%
Common equity tier 1 capital to risk-weighted assets | $ | 957,238 |  | 13.95% |  | $ | 480,332 |  | 7.00% |  | $ | 446,023 |  | 6.50%
Tier 1 capital to average total assets | $ | 1,008,785 |  | 9.84% |  | $ | 409,975 |  | 4.00% |  | $ | 512,469 |  | 5.00%
As of December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total capital to risk-weighted assets | $ | 1,096,766 |  | 16.04% |  | $ | 717,974 |  | 10.50% |  | $ | 683,785 |  | 10.00%
Tier 1 capital to risk-weighted assets | $ | 1,010,945 |  | 14.78% |  | $ | 581,217 |  | 8.50% |  | $ | 547,028 |  | 8.00%
Common equity tier 1 capital to risk-weighted assets | $ | 894,075 |  | 13.08% |  | $ | 478,649 |  | 7.00% |  | $ | 444,460 |  | 6.50%
Tier 1 capital to average total assets | $ | 1,010,945 |  | 10.30% |  | $ | 392,424 |  | 4.00% |  | $ | 490,530 |  | 5.00%
|  |  |  |  |  | Minimum Capital |  |  |  |  |
|  |  |  |  |  | Requirement (including |  | Minimum to be Well
| Actual |  | capital conservation buffer) |  | Capitalized
| Amount |  | Ratio |  | Amount |  | Ratio |  | Amount |  | Ratio
| (Dollars in thousands)
Bank Ratios |  |  |  |  |  |  |  |  |  |  |  |  |  |
As of June 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total capital to risk-weighted assets | $ | 993,250 |  | 14.58% |  | $ | 715,375 |  | 10.50% |  | $ | 681,310 |  | 10.00%
Tier 1 capital to risk-weighted assets | $ | 907,851 |  | 13.33% |  | $ | 579,113 |  | 8.50% |  | $ | 545,048 |  | 8.00%
Common equity tier 1 capital to risk-weighted assets | $ | 907,851 |  | 13.33% |  | $ | 476,917 |  | 7.00% |  | $ | 442,851 |  | 6.50%
Tier 1 capital to average total assets | $ | 907,851 |  | 8.96% |  | $ | 405,219 |  | 4.00% |  | $ | 506,524 |  | 5.00%
As of December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total capital to risk-weighted assets | $ | 1,044,275 |  | 15.32% |  | $ | 714,480 |  | 10.50% |  | $ | 680,457 |  | 10.00%
Tier 1 capital to risk-weighted assets | $ | 786,731 |  | 14.06% |  | $ | 578,388 |  | 8.50% |  | $ | 544,366 |  | 8.00%
Common equity tier 1 capital to risk-weighted assets | $ | 956,845 |  | 14.06% |  | $ | 476,320 |  | 7.00% |  | $ | 442,297 |  | 6.50%
Tier 1 capital to average total assets | $ | 956,845 |  | 9.81% |  | $ | 390,304 |  | 4.00% |  | $ | 487,879 |  | 5.00%

X
- References No definition available. + Details
Name: | srt_RegulatoryCapitalRequirementsAbstract
Namespace Prefix: | srt_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1F -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958575-112826 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958569-112826 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (a)(2) -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (a)(1) -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1D -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958573-112826 + Details
Name: | us-gaap_RegulatoryCapitalRequirementsUnderBankingRegulationsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration