ALLOWANCE FOR CREDIT LOSSES (Tables)

3 Months Ended

Mar. 31, 2022

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