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INVESTMENT SECURITIES (Tables)
 9 Months Ended
Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]  
Schedule of Investment Securities The amortized cost, gross unrealized gains and losses, fair value, weighted average yield and contractual maturities of the securities owned by OFG at September 30, 2022 and December 31, 2021 were as follows:
September 30, 2022
Amortized CostGross Unrealized GainsGross Unrealized LossesFair
Value		Weighted Average Yield
(In thousands)
Available-for-sale
Mortgage-backed securities
FNMA and FHLMC certificates
Due from 1 to 5 years$11,109 $— $568 $10,541 1.76 %
Due from 5 to 10 years62,947 — 4,686 58,261 2.00 %
Due after 10 years772,928 — 74,119 698,809 2.82 %
Total FNMA and FHLMC certificates846,984 — 79,373 767,611 2.75 %
GNMA Securities
Due from 1 to 5 years13,916 — 863 13,053 1.65 %
Due from 5 to 10 years25,877 19 1,949 23,947 2.06 %
Due after 10 years292,795 50 38,117 254,728 2.66 %
Total GNMA certificates332,588 69 40,929 291,728 2.57 %
CMOs issued by US government-sponsored agencies
Due from 1 to 5 years15,602 — 727 14,875 1.78 %
Due from 5 to 10 years660 — 12 648 2.14 %
Due after 10 years992 — 16 976 5.06 %
Total CMOs issued by US government-sponsored agencies17,254 — 755 16,499 1.98 %
Total mortgage-backed securities1,196,826 69 121,057 1,075,838 2.69 %
Investment securities
US Treasury securities
Due less than 1 year402,678 — 1,264 401,414 3.15 %
Other debt securities
Due less than 1 year500 — — 500 0.57 %
Due from 1 to 5 years647 23 13 657 5.31 %
Total other debt securities1,147 23 13 1,157 3.24 %
Total investment securities403,825 23 1,277 402,571 3.15 %
Total securities available for sale$1,600,651 $92 $122,334 $1,478,409 2.80 %
September 30, 2022
Amortized CostGross Unrealized GainsGross Unrealized LossesFair
Value		Weighted Average Yield
(In thousands)
Held-to-maturity
Mortgage-backed securities
FNMA and FHLMC certificates
Due after 10 years$343,549 $— $66,089 $277,460 1.70 %
Investment securities
US Treasury securities
Due from 1 to 5 years197,225 — 2,967 194,258 3.36 %
Total securities held-to-maturity$540,774 $— $69,056 $471,718 2.30 %
December 31, 2021
Amortized CostGross Unrealized GainsGross Unrealized LossesFair
Value		Weighted Average Yield
(In thousands)
Available-for-sale
Mortgage-backed securities
FNMA and FHLMC certificates
Due from 5 to 10 years$90,560 2,502 $— $93,062 1.94 %
Due after 10 years93,440 — 3,200 90,240 1.37 %
Total FNMA and FHLMC certificates184,000 2,502 3,200 183,302 1.65 %
GNMA Securities
Due from 1 to 5 years10,536 233 1 10,768 1.66 %
Due from 5 to 10 years26,419 556 — 26,975 1.80 %
Due after 10 years244,106 6,927 198 250,835 2.40 %
Total GNMA certificates281,061 7,716 199 288,578 2.32 %
CMOs issued by US government-sponsored agencies
Due from 1 to 5 years1,788 22 — 1,810 1.70 %
Due from 5 to 10 years20,705 299 — 21,004 1.81 %
Due after 10 years1,601 16 1 1,616 4.24 %
Total CMOs issued by US government-sponsored agencies24,094 337 1 24,430 1.96 %
Total mortgage-backed securities489,155 10,555 3,400 496,310 2.05 %
Investment securities
US Treasury securities
Due less than 1 year10,737 88 — 10,825 1.48 %
Obligations of US government-sponsored agencies
Due less than 1 year1,182 1 — 1,183 1.40 %
Other debt securities
Due less than 1 year500 — — 500 0.57 %
Due from 1 to 5 years1,847 48 — 1,895 5.43 %
Total other debt securities2,347 48 — 2,395 4.39 %
Total investment securities14,266 137 — 14,403 1.95 %
Total securities available for sale$503,421 $10,692 $3,400 $510,713 2.05 %
December 31, 2021
Amortized CostGross Unrealized GainsGross Unrealized LossesFair
Value		Weighted Average Yield
(In thousands)
Held-to-maturity
Mortgage-backed securities
FNMA and FHLMC certificates
Due after 10 years$367,507 $— $3,854 $363,653 1.71 %
Schedule of Unrealized Gains and Losses by Category
The following table shows OFG’s gross unrealized losses and fair value of investment securities available-for-sale and held-to-maturity at September 30, 2022 and December 31, 2021, aggregated by investment category and the length of time that individual securities have been in a continuous unrealized loss position:
September 30, 2022
12 months or more
Amortized
Cost		Unrealized
Loss		Fair
Value
(In thousands)
Securities available-for-sale
FNMA and FHLMC certificates$87,852 $20,025 $67,827 
GNMA certificates567 99 468 
$88,419 $20,124 $68,295 
Held-to-maturity
FNMA and FHLMC certificates$289,148 $56,444 $232,704 
September 30, 2022
Less than 12 months
Amortized
Cost		Unrealized
Loss		Fair
Value
(In thousands)
Securities available-for-sale
CMOs issued by US Government-sponsored agencies$17,254 $755 $16,499 
FNMA and FHLMC certificates759,122 59,348 699,774 
GNMA certificates330,091 40,830 289,261 
US Treasury securities402,678 1,264 401,414 
Other debt securities271 13 258 
$1,509,416 $102,210 $1,407,206 
Held-to-maturity
FNMA and FHLMC certificates$54,401 $9,645 $44,756 
US Treasury securities197,225 2,967 194,258 
$251,626 $12,612 $239,014 
September 30, 2022
Total
Amortized
Cost		Unrealized
Loss		Fair
Value
(In thousands)
Securities available-for-sale
CMOs issued by US Government-sponsored agencies$17,254 $755 $16,499 
FNMA and FHLMC certificates846,974 79,373 767,601 
GNMA certificates330,658 40,929 289,729 
US Treasury securities402,678 1,264 401,414 
Other debt securities271 13 258 
$1,597,835 $122,334 $1,475,501 
Held-to-maturity
FNMA and FHLMC certificates$343,549 $66,089 $277,460 
US Treasury securities197,225 2,967 194,258 
$540,774 $69,056 $471,718 
December 31, 2021
Less than 12 months
Amortized
Cost		Unrealized
Loss		Fair
Value
(In thousands)
Securities available-for-sale
CMOs issued by US Government-sponsored agencies$500 $1 $499 
FNMA and FHLMC certificates93,440 3,200 90,240 
GNMA certificates5,022 199 4,823 
$98,962 $3,400 $95,562 
Held-to-maturity
FNMA and FHLMC certificates$367,507 $3,854 $363,653