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REGULATORY CAPITAL REQUIREMENTS
 3 Months Ended
Mar. 31, 2022
Capital Disclosure [Abstract]  
REGULATORY CAPITAL REQUIREMENTS 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 March 31, 2022 and December 31, 2021, OFG and the Bank met all capital adequacy requirements to which they are subject. As of March 31, 2022 and December 31, 2021, 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 March 31, 2022 and December 31, 2021 are as follows:
ActualMinimum Capital
Requirement (including
capital conservation buffer)		Minimum to be Well
Capitalized
AmountRatioAmountRatioAmountRatio
(Dollars in thousands)
OFG Bancorp Ratios
As of March 31, 2022
Total capital to risk-weighted assets$1,045,437 14.49 %$757,543 10.50 %$721,469 10.00 %
Tier 1 capital to risk-weighted assets$955,221 13.24 %$613,249 8.50 %$577,175 8.00 %
Common equity tier 1 capital to risk-weighted assets$955,221 13.24 %$505,028 7.00 %$468,955 6.50 %
Tier 1 capital to average total assets$955,221 9.54 %$400,333 4.00 %$500,416 5.00 %
As of December 31, 2021
Total capital to risk-weighted assets$1,086,897 15.52 %$735,512 10.50 %$700,488 10.00 %
Tier 1 capital to risk-weighted assets$999,284 14.27 %$595,414 8.50 %$560,390 8.00 %
Common equity tier 1 capital to risk-weighted assets$964,284 13.77 %$490,341 7.00 %$455,317 6.50 %
Tier 1 capital to average total assets$999,284 9.69 %$412,359 4.00 %$515,449 5.00 %
ActualMinimum Capital
Requirement (including
capital conservation buffer)		Minimum to be Well
Capitalized
AmountRatioAmountRatioAmountRatio
(Dollars in thousands)
Bank Ratios
As of March 31, 2022
Total capital to risk-weighted assets$1,000,591 13.93 %$754,127 10.50 %$718,216 10.00 %
Tier 1 capital to risk-weighted assets$910,777 12.68 %$610,484 8.50 %$574,573 8.00 %
Common equity tier 1 capital to risk-weighted assets$910,777 12.68 %$502,751 7.00 %$466,840 6.50 %
Tier 1 capital to average total assets$910,777 9.17 %$397,348 4.00 %$496,685 5.00 %
As of December 31, 2021
Total capital to risk-weighted assets$995,549 14.34 %$728,867 10.50 %$694,159 10.00 %
Tier 1 capital to risk-weighted assets$908,717 13.09 %$590,035 8.50 %$555,327 8.00 %
Common equity tier 1 capital to risk-weighted assets$908,717 13.09 %$485,911 7.00 %$451,203 6.50 %
Tier 1 capital to average total assets$908,717 8.87 %$409,855 4.00 %$512,319 5.00 %