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Allowance for Credit Losses (Tables)

12 Months Ended

Dec. 31, 2021

Credit Loss [Abstract]

Gross Loan and Allowance for Credit Losses

The following tables present the activity in OFG’s allowance for credit losses by segment for the years ended December 31, 2021, 2020 and 2019:


			Year Ended December 31, 2021
			Commercial						Mortgage						Consumer						Auto and Leasing						Total
			(In thousands)
Non-PCD:
Balance at beginning of year			$	45,779					$	19,687					$	25,253					$	70,296					$	161,015
(Recapture) provision for credit losses			(7,130)						(242)						2,868						(2,373)						(6,877)
Charge-offs			(8,788)						(5,789)						(11,880)						(26,530)						(52,987)
Recoveries			2,401						1,643						2,900						23,970						30,914
Balance at end of year			$	32,262					$	15,299					$	19,141					$	65,363					$	132,065
PCD:
Balance at beginning of year			$	16,405					$	26,389					$	57					$	943					$	43,794
(Recapture) provision for credit losses			(2,585)						11,556						(317)						(894)						7,760
Charge-offs			(12,241)						(20,350)						(22)						(946)						(33,559)
Recoveries			2,929						1,423						316						1,209						5,877
Balance at end of year			$	4,508					$	19,018					$	34					$	312					$	23,872
Total allowance for credit losses at end of year			$	36,770					$	34,317					$	19,175					$	65,675					$	155,937


			Year ended December 31, 2020
			Commercial						Mortgage						Consumer						Auto and Leasing						Total
			(In thousands)
Non-PCD:
Balance at beginning of year			$	25,993					$	8,727					$	18,446					$	31,878					$	85,044
Impact of ASC 326 adoption			3,562						10,980						8,418						16,238						39,198
Provision for credit losses			18,462						258						16,579						51,233						86,532
Charge-offs			(4,979)						(884)						(21,772)						(48,547)						(76,182)
Recoveries			2,741						606						3,582						19,494						26,423
Balance at end of year			$	45,779					$	19,687					$	25,253					$	70,296					$	161,015
PCD:
Balance at beginning of year			$	8,893					$	21,655					$	—					$	947					$	31,495
Impact of ASC 326 adoption			42,143						7,830						181						368						50,522
Provision for credit losses			480						6,392						126						187						7,185
Charge-offs			(36,097)						(10,342)						(542)						(2,023)						(49,004)
Recoveries			986						854						292						1,464						3,596
Balance at end of year			$	16,405					$	26,389					$	57					$	943					$	43,794
Total allowance for credit losses at end of year			$	62,184					$	46,076					$	25,310					$	71,239					$	204,809


									Year Ended December 31, 2019
			Commercial						Mortgage						Consumer						Auto and Leasing						Total
									(In thousands)
Allowance for loan and lease losses, excluding loans accounted for under ASC 310-30:
Balance at beginning of year			$	30,348					$	19,783					$	17,476					$	29,643					$	97,250
Provision for credit losses			6,731						5,975						19,038						30,789						62,533
Charge-offs			(12,196)						(18,564)						(20,435)						(47,498)						(98,693)
Recoveries			1,110						1,533						2,367						18,944						23,954
Balance at end of year			$	25,993					$	8,727					$	18,446					$	31,878					$	85,044
Allowance for loan and lease losses for acquired loans accounted for under ASC 310-30:
Balance at beginning of year			$	30,226					$	30,607					$	4					$	6,144					$	66,981
Provision (recapture) for credit losses			13,484						23,703						—						(2,928)						34,259
Allowance derecognition			(34,817)						(32,655)						(4)						(2,269)						(69,745)
Balance at end of year			$	8,893					$	21,655					$	—					$	947					$	31,495
Total allowance for loan and lease losses at end of year			$	34,886					$	30,382					$	18,446					$	32,825					$	116,539