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Subsequent Events
12 Months Ended
Dec. 31, 2021
Subsequent Events [Abstract]  
Subsequent Events SUBSEQUENT EVENTS
On January 3, 2022, OFG repurchased and cancelled $17.3 million of its subordinated capital notes. At December 31, 2021, the closing payment was already in process and, therefore, such amount is included in other assets.
On January 26, 2022, as part of OFG’s capital actions for 2022, the Board of Directors approved the increase of its regular quarterly cash dividend by 25%, to $0.15 per common share from $0.12 per share, beginning the quarter ending March 31, 2022. Also, it approved a new stock repurchase program of $100 million. During 2022, OFG has repurchased 853,584 shares as part of the stock repurchase program, for a total of $23.5 million, at an average price of $27.55 per share.

On February 22, 2022, OFG sold $22.3 million of past due mortgage loans, which were classified as available for sale at December 31, 2021.