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OFG Bancorp (Holding Company Only) Financial Information (Tables)
 12 Months Ended
Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract]  
Condensed Statements Of Financial Information
The following condensed financial information presents the financial position of the holding company only as of December 31, 2021 and 2020, and the results of its operations and its cash flows for the years ended December 31, 2021, 2020 and 2019:
December 31,
20212020
(In thousands)
ASSETS
Cash and cash equivalents$46,484 $26,529 
Investment in bank subsidiary, equity method1,011,147 1,064,671 
Investment in nonbank subsidiaries, equity method35,915 32,293 
Advance to investment dealers17,213 — 
Deferred tax asset, net2,627 2,637 
Due from bank subsidiary, net50 2,024 
Other assets582 942 
Total assets$1,114,018 $1,129,096 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Dividend payable6,010 5,223 
Accrued expenses and other liabilities2,765 1,815 
Subordinated capital notes36,083 36,083 
Total liabilities44,858 43,121 
Stockholders’ equity1,069,160 1,085,975 
Total liabilities and stockholders’ equity$1,114,018 $1,129,096 
Condensed Statement Of Operations Information
Year Ended December 31,
202120202019
(In thousands)
Income:
Interest income$55 $86 $828 
Investment trading activities, net and other6,765 6,583 5,308 
Total income6,820 6,669 6,136 
Expenses:
Interest expense1,174 1,394 2,012 
Operating expenses8,397 7,483 7,516 
Total expenses9,571 8,877 9,528 
Loss before income taxes(2,751)(2,208)(3,392)
Income tax expense (benefit)1,813 (1,363)1,705 
Loss before changes in undistributed earnings of subsidiaries(4,564)(845)(5,097)
Equity in earnings from:
Bank subsidiary144,089 74,899 56,114 
Nonbank subsidiaries6,626 273 2,824 
Net income$146,151 $74,327 $53,841 
Condensed Statement Of Comprehensive Income Information
Year Ended December 31,
202120202019
(In thousands)
Net income$146,151 $74,327 $53,841 
Other comprehensive (loss) income before tax:
Other comprehensive (loss) income from bank subsidiary(5,862)12,030 9,955 
Other comprehensive (loss) income before taxes(5,862)12,030 9,955 
Income tax effect— — — 
Other comprehensive (loss) income after taxes(5,862)12,030 9,955 
Comprehensive income$140,289 $86,357 $63,796 
Condensed Statement Of Cash Flows Information
Year Ended December 31,
202120202019
(In thousands)
Cash flows from operating activities:
Net income$146,151 $74,327 $53,841 
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in earnings from banking subsidiary(144,089)(74,899)(56,114)
Equity in earnings from nonbanking subsidiaries(6,626)(273)(2,824)
Stock-based compensation940 2,170 2,134 
Deferred income tax, net10 (2,637)— 
Net (increase) decrease in other assets(13,471)12 458 
Net increase (decrease) in accrued expenses and other liabilities950 (486)64 
Dividends from banking subsidiary197,000 26,100 20,000 
Dividends from non-banking subsidiary11,000 9,531 6,017 
Net cash provided by operating activities191,865 33,845 23,576 
Cash flows from investing activities:
Net increase in due from bank subsidiary, net— (1,984)— 
Net decrease (increase) in due to non-bank subsidiary, net— — (14)
Proceeds from sales of premises and equipment240 282 310 
Capital contribution to banking subsidiary— (1,703)(1,720)
Capital contribution to non-banking subsidiary(9,300)(9,013)(13,518)
Additions to premises and equipment(288)(295)(319)
Net cash (used in) investing activities(9,348)(12,713)(15,261)
Cash flows from financing activities:
Proceeds from exercise of stock options and lapsed restricted units, net283 583 1,294 
Purchase of treasury stock(49,872)(2,226)— 
Redemption of preferred stock(92,000)— — 
Dividends paid(20,973)(20,892)(20,884)
Net cash used in financing activities(162,562)(22,535)(19,590)
Net change in cash and cash equivalents19,955 (1,403)(11,275)
Cash and cash equivalents at beginning of year26,529 27,932 39,207 
Cash and cash equivalents at end of year$46,484 $26,529 $27,932