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v3.22.1

ALLOWANCE FOR CREDIT LOSSES (Tables) | 3 Months Ended
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Mar. 31, 2022
Credit Loss [Abstract] |
Schedule of Gross Loan and Allowance for Credit Losses | The following tables present the activity in OFG’s allowance for credit losses by segment for the quarters ended March 31, 2022 and 2021:
| Quarter Ended March 31, 2022
| Commercial |  | Mortgage |  | Consumer |  | Auto and Leasing |  | Total
| (In thousands)
Non-PCD: |  |  |  |  |  |  |  |  |
Balance at beginning of period | $ | 32,262 |  |  | $ | 15,299 |  |  | $ | 19,141 |  |  | $ | 65,363 |  |  | $ | 132,065 |
Provision for (recapture of) credit losses | 5,187 |  |  | (2,418) |  |  | 3,963 |  |  | 1,831 |  |  | 8,563 |
Charge-offs | (544) |  |  | (3) |  |  | (2,659) |  |  | (7,890) |  |  | (11,096) |
Recoveries | 192 |  |  | 2,074 |  |  | 655 |  |  | 4,891 |  |  | 7,812 |
Balance at end of period | $ | 37,097 |  |  | $ | 14,952 |  |  | $ | 21,100 |  |  | $ | 64,195 |  |  | $ | 137,344 |
PCD: |  |  |  |  |  |  |  |  |
Balance at beginning of period | $ | 4,508 |  |  | $ | 19,018 |  |  | $ | 34 |  |  | $ | 312 |  |  | $ | 23,872 |
(Recapture of) provision for credit losses | (3,875) |  |  | (2,848) |  |  | 13 |  |  | (138) |  |  | (6,848) |
Charge-offs | (34) |  |  | (1,134) |  |  | (39) |  |  | (114) |  |  | (1,321) |
Recoveries | 3,023 |  |  | 845 |  |  | 23 |  |  | 137 |  |  | 4,028 |
Balance at end of period | $ | 3,622 |  |  | $ | 15,881 |  |  | $ | 31 |  |  | $ | 197 |  |  | $ | 19,731 |
Total allowance for credit losses at end of period | $ | 40,719 |  |  | $ | 30,833 |  |  | $ | 21,131 |  |  | $ | 64,392 |  |  | $ | 157,075 |
| Quarter Ended March 31, 2021
| Commercial |  | Mortgage |  | Consumer |  | Auto and Leasing |  | Total
| (In thousands)
Non-PCD: |  |  |  |  |  |  |  |  |
Balance at beginning of period | $ | 45,779 |  |  | $ | 19,687 |  |  | $ | 25,253 |  |  | $ | 70,296 |  |  | $ | 161,015 |
Provision for (recapture of) credit losses | 1,542 |  |  | (2,480) |  |  | (158) |  |  | 4,039 |  |  | 2,943 |
Charge-offs | (68) |  |  | (787) |  |  | (4,469) |  |  | (9,083) |  |  | (14,407) |
Recoveries | 430 |  |  | 615 |  |  | 565 |  |  | 5,817 |  |  | 7,427 |
Balance at end of period | $ | 47,683 |  |  | $ | 17,035 |  |  | $ | 21,191 |  |  | $ | 71,069 |  |  | $ | 156,978 |
PCD: |  |  |  |  |  |  |  |  |
Balance at beginning of period | $ | 16,405 |  |  | $ | 26,389 |  |  | $ | 57 |  |  | $ | 943 |  |  | $ | 43,794 |
(Recapture of) provision for credit losses | (2,492) |  |  | 5,994 |  |  | (4) |  |  | (172) |  |  | 3,326 |
Charge-offs | (43) |  |  | (2,590) |  |  | (22) |  |  | (456) |  |  | (3,111) |
Recoveries | 436 |  |  | 146 |  |  | 21 |  |  | 383 |  |  | 986 |
Balance at end of period | $ | 14,306 |  |  | $ | 29,939 |  |  | $ | 52 |  |  | $ | 698 |  |  | $ | 44,995 |
Total allowance for credit losses at end of period | $ | 61,989 |  |  | $ | 46,974 |  |  | $ | 21,243 |  |  | $ | 71,767 |  |  | $ | 201,973 |

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- Definition Tabular disclosure of allowance for credit loss on financing receivable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -URI http://asc.fasb.org/extlink&oid=123577603&loc=SL6953423-111524 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=124255953&loc=SL82919249-210447 + Details
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