XML 154 R141.htm IDEA: XBRL DOCUMENT
v3.22.4

FAIR VALUE OF FINANCIAL INSTRUMENTS (Assets and Liabilities on Recurring and Non-Recurring Basis) (Details) - USD ($) $ in Thousands | 12 Months Ended |  |
--- | --- | --- | ---
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investment securities available-for-sale | $ 1,412,776 | $ 510,713 |  |
Trading securities | 9 | 20 |  |
Money market investments | $ 4,161 | $ 8,952 | $ 11,908 |
DerivativeAssetStatementOfFinancialPositionExtensibleEnumerationNotDisclosedFlag | Derivative assets | Derivative assets |  |
Derivative assets | $ 406 | $ 1 |  |
Servicing assets | $ 50,921 | $ 48,973 | 47,295 | $ 50,779
DerivativeLiabilityCurrentStatementOfFinancialPositionExtensibleEnumerationNotDisclosedFlag | Derivative liabilities | Derivative liabilities |  |
Foreclosed real estate | $ 11,214 | $ 15,039 | $ 11,596 | $ 29,909
Other repossessed assets | 4,617 | 1,945 |  |
Recurring fair value measurements |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investment securities available-for-sale | 1,412,776 | 510,713 |  |
Trading securities | 9 | 20 |  |
Money market investments | 4,161 | 8,952 |  |
Derivative assets | 406 | 1 |  |
Servicing assets | 50,921 | 48,973 |  |
Derivative liabilities |  | (804) |  |
Total | 1,468,273 | 567,855 |  |
Recurring fair value measurements | Level 1 |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investment securities available-for-sale | 309,133 | 10,825 |  |
Trading securities | 0 | 0 |  |
Money market investments | 4,161 | 8,952 |  |
Derivative assets | 0 | 0 |  |
Servicing assets | 0 | 0 |  |
Derivative liabilities |  | 0 |  |
Total | 313,294 | 19,777 |  |
Recurring fair value measurements | Level 2 |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investment securities available-for-sale | 1,103,237 | 498,358 |  |
Trading securities | 9 | 20 |  |
Money market investments | 0 | 0 |  |
Derivative assets | 406 | 1 |  |
Servicing assets | 0 | 0 |  |
Derivative liabilities |  | (804) |  |
Total | 1,103,652 | 497,575 |  |
Recurring fair value measurements | Level 3 |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investment securities available-for-sale | 406 | 1,530 |  |
Trading securities | 0 | 0 |  |
Money market investments | 0 | 0 |  |
Derivative assets | 0 | 0 |  |
Servicing assets | 50,921 | 48,973 |  |
Derivative liabilities |  | 0 |  |
Total | 51,327 | 50,503 |  |
Non-recurring fair value measurements |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Collateral dependent loans | 8,805 | 10,233 |  |
Foreclosed real estate | 11,214 | 15,039 |  |
Other repossessed assets | 4,617 | 1,945 |  |
Mortgage loans held for sale | 19,499 | 51,096 |  |
Other loans held for sale | 21,088 | 31,566 |  |
Total | 65,223 | 109,879 |  |
Non-recurring fair value measurements | Level 1 |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Collateral dependent loans | 0 | 0 |  |
Foreclosed real estate | 0 | 0 |  |
Other repossessed assets | 0 | 0 |  |
Mortgage loans held for sale | 0 | 0 |  |
Other loans held for sale | 0 | 0 |  |
Total | 0 | 0 |  |
Non-recurring fair value measurements | Level 2 |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Collateral dependent loans | 0 | 0 |  |
Foreclosed real estate | 0 | 0 |  |
Other repossessed assets | 0 | 0 |  |
Mortgage loans held for sale | 0 | 0 |  |
Other loans held for sale | 0 | 0 |  |
Total | 0 | 0 |  |
Non-recurring fair value measurements | Level 3 |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Collateral dependent loans | 8,805 | 10,233 |  |
Foreclosed real estate | 11,214 | 15,039 |  |
Other repossessed assets | 4,617 | 1,945 |  |
Mortgage loans held for sale | 19,499 | 51,096 |  |
Other loans held for sale | 21,088 | 31,566 |  |
Total | $ 65,223 | $ 109,879 |  |

X
- Definition Collateral Dependent Loans Fair Value Disclosure + References No definition available. + Details
Name: | ofg_CollateralDependantLoansFairValueDisclosure
Namespace Prefix: | ofg_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition DerivativeAssetStatementOfFinancialPositionExtensibleEnumerationNotDisclosedFlag + References No definition available. + Details
Name: | ofg_DerivativeAssetStatementOfFinancialPositionExtensibleEnumerationNotDisclosedFlag
Namespace Prefix: | ofg_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition DerivativeLiabilityCurrentStatementOfFinancialPositionExtensibleEnumerationNotDisclosedFlag + References No definition available. + Details
Name: | ofg_DerivativeLiabilityCurrentStatementOfFinancialPositionExtensibleEnumerationNotDisclosedFlag
Namespace Prefix: | ofg_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(6)) -URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 45 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=124258926&loc=SL82898722-210454 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 45 -Paragraph 1 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=124260329&loc=d3e26610-111562 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (aa) -URI https://asc.fasb.org/extlink&oid=126970911&loc=d3e27161-111563 + Details
Name: | us-gaap_AvailableForSaleSecuritiesDebtSecurities
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 55 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=99393222&loc=SL20226008-175313 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 55 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=99393222&loc=SL20226052-175313 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=123594938&loc=d3e13433-108611 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 + Details
Name: | us-gaap_DerivativeAssets
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled within one year or normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 + Details
Name: | us-gaap_DerivativeLiabilitiesCurrent
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Fair value of asset after deduction of liability. + References No definition available. + Details
Name: | us-gaap_FairValueNetAssetLiability
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Fair value portion of loans held-for-sale including, but not limited to, mortgage loans and finance receivables. + References No definition available. + Details
Name: | us-gaap_LoansHeldForSaleFairValueDisclosure
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Investment in short-term money-market instruments (such as commercial paper, banker's acceptances, repurchase agreements, government securities, certificates of deposit, and so forth) which are highly liquid (that is, readily convertible to known amounts of cash) and so near their maturity that they present an insignificant risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify as cash equivalents by definition. Original maturity means an original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three-years ago does not become a cash equivalent when its remaining maturity is three months. + References No definition available. + Details
Name: | us-gaap_MoneyMarketFundsAtCarryingValue
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Fair value portion of mortgage loans held-for-sale. + References No definition available. + Details
Name: | us-gaap_MortgagesHeldForSaleFairValueDisclosure
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Carrying amount as of the balance sheet date of assets other than real property that were received in full or partial satisfaction of a debt arrangement through foreclosure proceedings or defeasance. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11 -URI https://asc.fasb.org/extlink&oid=123577603&loc=d3e5162-111524 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -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
Name: | us-gaap_OtherForeclosedAssets
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Carrying amount as of the balance sheet date of other real estate and foreclosed assets. Other real estate may include 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. Foreclosed assets include all assets obtained in full or partial satisfaction of a debt arrangement through foreclosure proceedings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.10(4)) -URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878 + Details
Name: | us-gaap_OtherRealEstateAndForeclosedAssets
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Fair value of an asset representing net future revenue from contractually specified servicing fees, late charges, and other ancillary revenues, in excess of future costs related to servicing arrangements. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 45 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=6469459&loc=d3e122501-111745 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 45 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6469459&loc=d3e122492-111745 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 3 -Subparagraph (a)(1) -URI https://asc.fasb.org/extlink&oid=128311188&loc=d3e122625-111746 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 45 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6469459&loc=d3e122501-111745 + Details
Name: | us-gaap_ServicingAssetAtFairValueAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amount of investment in debt security measured at fair value with change in fair value recognized in net income (trading) and investment in equity security measured at fair value with change in fair value recognized in net income (FV-NI). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.4) -URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 1 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=124098289&loc=d3e6676-107765 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(2)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_TradingSecurities
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Details
Name: | us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsNonrecurringMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |