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v3.22.2.2

FORECLOSED REAL ESTATE | 9 Months Ended
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Sep. 30, 2022
Other Real Estate [Abstract] |
FORECLOSED REAL ESTATE | FORECLOSED REAL ESTATE The following tables present the activity related to foreclosed real estate for the quarters and nine-month periods ended September 30, 2022 and 2021:
| Quarter Ended September 30, |  | Nine-Month Period Ended September 30, |  |
| 2022 |  | 2021 |  | 2022 |  | 2021 |  |
| (In thousands)
Balance at beginning of period | $ | 15,061 |  |  | $ | 15,093 |  |  | $ | 15,039 |  |  | $ | 11,596 |  |  |
Additions | 1,454 |  |  | 4,842 |  |  | 7,183 |  |  | 14,386 |  |  |
Sales | (3,919) |  |  | (5,978) |  |  | (11,866) |  |  | (11,499) |  |  |
Decline in value | (322) |  |  | (445) |  |  | (736) |  |  | (1,205) |  |  |
Other adjustments | 2,287 |  |  | 392 |  |  | 4,941 |  |  | 626 |  |  |
Balance at end of period | $ | 14,561 |  |  | $ | 13,904 |  |  | $ | 14,561 |  |  | $ | 13,904 |  |  |
After Hurricane Fiona, management has evaluated the potential impact this event brought to OFG’s foreclosed real estate. Oriental has performed property inspections and taking into consideration all available information, the fair value of these properties was not materially impacted.

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- References No definition available. + Details
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- Definition The entire disclosure for real estate owned (as defined). Generally, the largest component of real estate owned by lenders is assets taken in settlement of troubled loans through surrender or foreclosure. Real estate investments, real estate loans that qualify as investments in real estate, and premises that are no longer used in operations may also be included in real estate owned. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 45 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=124259787&loc=d3e4437-111522 + Details
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