XML 102 R89.htm IDEA: XBRL DOCUMENT
v3.22.4

ALLOWANCE FOR CREDIT LOSSES (Narrative) (Details) $ in Thousands | 12 Months Ended |
--- | --- | ---
Dec. 31, 2022 USD ($) loan | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Dec. 31, 2019 USD ($)
Financing Receivable, Allowance for Credit Loss [Line Items] |  |  |  |
Decrease in allowance for credit losses | $ 3,300 |  |  |
Provision for (recapture of) credit losses | 24,119 | $ 221 | $ 92,672 |
Net charge-off | (27,700) |  |  |
Decrease in net charge-offs | 22,100 |  |  |
Reclassification of loans held-for-investment portfolio to held-for-sale portfolio | $ 17,476 | 54,983 | 2,542 |
Number of commercial loans | loan | 4 |  |  |
Number of commercial loans sold | 2 |  |  |
Allowance for credit losses | $ 152,673 | 155,937 | 204,809 |
Changes in Economic and Loss Rate Models and Miscellaneous Reserves |  |  |  |
Financing Receivable, Allowance for Credit Loss [Line Items] |  |  |  |
Provision for (recapture of) credit losses | 1,900 |  |  |
Loan sales |  |  |  |
Financing Receivable, Allowance for Credit Loss [Line Items] |  |  |  |
Net charge-offs recognized |  | 30,100 |  |
Decrease in allowance for credit losses |  | 20,400 |  |
Provision for (recapture of) credit losses |  | 9,700 |  |
Financing Receivable, Loan Growth Member |  |  |  |
Financing Receivable, Allowance for Credit Loss [Line Items] |  |  |  |
Provision for (recapture of) credit losses | 25,900 |  |  |
Commercial loans |  |  |  |
Financing Receivable, Allowance for Credit Loss [Line Items] |  |  |  |
Decrease in net charge-offs | 7,300 |  |  |
Allowance for credit losses | 40,546 | 36,770 | 62,184 |
Commercial loans | Non-accruing |  |  |  |
Financing Receivable, Allowance for Credit Loss [Line Items] |  |  |  |
Provision for (recapture of) credit losses | 11,800 |  |  |
Auto loans and leases |  |  |  |
Financing Receivable, Allowance for Credit Loss [Line Items] |  |  |  |
Decrease in net charge-offs | (8,900) |  |  |
Allowance for credit losses | 69,919 | 65,675 | 71,239 |
Consumer |  |  |  |
Financing Receivable, Allowance for Credit Loss [Line Items] |  |  |  |
Decrease in net charge-offs | (3,400) |  |  |
Allowance for credit losses | 23,278 | 19,175 | 25,310 |
Mortgage |  |  |  |
Financing Receivable, Allowance for Credit Loss [Line Items] |  |  |  |
Decrease in net charge-offs | 27,100 |  |  |
Allowance for credit losses | 18,930 | 34,317 | 46,076 |
PCD |  |  |  |
Financing Receivable, Allowance for Credit Loss [Line Items] |  |  |  |
Net charge-offs recognized | 2,250 | 33,559 | 49,004 |
Provision for (recapture of) credit losses | (18,010) | 7,760 | 7,185 |
Recoveries | 7,220 | 5,877 | 3,596 |
Allowance for credit losses | 10,832 | 23,872 | 43,794 | $ 31,495
PCD | Commercial loans |  |  |  |
Financing Receivable, Allowance for Credit Loss [Line Items] |  |  |  |
Net charge-offs recognized | 69 | 12,241 | 36,097 |
Provision for (recapture of) credit losses | (6,855) | (2,585) | 480 |
Recoveries | 3,804 | 2,929 | 986 |
Allowance for credit losses | 1,388 | 4,508 | 16,405 | 8,893
PCD | Commercial loans | Puerto Rico | Government |  |  |  |
Financing Receivable, Allowance for Credit Loss [Line Items] |  |  |  |
Recoveries | 2,800 |  |  |
PCD | Auto loans and leases |  |  |  |
Financing Receivable, Allowance for Credit Loss [Line Items] |  |  |  |
Net charge-offs recognized | 310 | 946 | 2,023 |
Provision for (recapture of) credit losses | (588) | (894) | 187 |
Recoveries | 657 | 1,209 | 1,464 |
Allowance for credit losses | 71 | 312 | 943 | 947
PCD | Consumer |  |  |  |
Financing Receivable, Allowance for Credit Loss [Line Items] |  |  |  |
Net charge-offs recognized | 176 | 22 | 542 |
Provision for (recapture of) credit losses | 62 | (317) | 126 |
Recoveries | 94 | 316 | 292 |
Allowance for credit losses | 14 | 34 | 57 | 0
PCD | Mortgage |  |  |  |
Financing Receivable, Allowance for Credit Loss [Line Items] |  |  |  |
Net charge-offs recognized | 1,695 | 20,350 | 10,342 |
Provision for (recapture of) credit losses | (10,629) | 11,556 | 6,392 |
Recoveries | 2,665 | 1,423 | 854 |
Allowance for credit losses | 9,359 | 19,018 | 26,389 | 21,655
Non-PCD |  |  |  |
Financing Receivable, Allowance for Credit Loss [Line Items] |  |  |  |
Net charge-offs recognized | 61,524 | 52,987 | 76,182 |
Provision for (recapture of) credit losses | 42,418 | (6,877) | 86,532 |
Recoveries | 28,882 | 30,914 | 26,423 |
Allowance for credit losses | 141,841 | 132,065 | 161,015 | 85,044
Non-PCD | Commercial loans |  |  |  |
Financing Receivable, Allowance for Credit Loss [Line Items] |  |  |  |
Net charge-offs recognized | 13,380 | 8,788 | 4,979 |
Provision for (recapture of) credit losses | 19,076 | (7,130) | 18,462 |
Charge-offs for previously reserved amount | 12,300 |  |  |
Recoveries | 1,200 | 2,401 | 2,741 |
Allowance for credit losses | 39,158 | 32,262 | 45,779 | 25,993
Non-PCD | Auto loans and leases |  |  |  |
Financing Receivable, Allowance for Credit Loss [Line Items] |  |  |  |
Net charge-offs recognized | 32,662 | 26,530 | 48,547 |
Provision for (recapture of) credit losses | 16,016 | (2,373) | 51,233 |
Recoveries | 21,131 | 23,970 | 19,494 |
Allowance for credit losses | 69,848 | 65,363 | 70,296 | 31,878
Non-PCD | Consumer |  |  |  |
Financing Receivable, Allowance for Credit Loss [Line Items] |  |  |  |
Net charge-offs recognized | 15,198 | 11,880 | 21,772 |
Provision for (recapture of) credit losses | 16,084 | 2,868 | 16,579 |
Recoveries | 3,237 | 2,900 | 3,582 |
Allowance for credit losses | 23,264 | 19,141 | 25,253 | 18,446
Non-PCD | Mortgage |  |  |  |
Financing Receivable, Allowance for Credit Loss [Line Items] |  |  |  |
Net charge-offs recognized | 284 | 5,789 | 884 |
Provision for (recapture of) credit losses | (8,758) | (242) | 258 |
Recoveries | 3,314 | 1,643 | 606 |
Allowance for credit losses | 9,571 | 15,299 | 19,687 | $ 8,727
Improved Macroeconomic Conditions |  |  |  |
Financing Receivable, Allowance for Credit Loss [Line Items] |  |  |  |
Provision for (recapture of) credit losses | (15,200) |  |  |
COVID-19 Pandemic |  |  |  |
Financing Receivable, Allowance for Credit Loss [Line Items] |  |  |  |
Provision for (recapture of) credit losses |  |  | $ 39,900 |
Total Past Due |  |  |  |
Financing Receivable, Allowance for Credit Loss [Line Items] |  |  |  |
Reclassification of loans held-for-investment portfolio to held-for-sale portfolio |  | $ 65,500 |  |
Total Past Due | Non-PCD | Mortgage | Loan sales |  |  |  |
Financing Receivable, Allowance for Credit Loss [Line Items] |  |  |  |
Recoveries | $ 1,100 |  |  |

X
- Definition Finance Receivable, Number Of Commercial Loans + References No definition available. + Details
Name: | ofg_FinanceReceivableNumberOfCommercialLoans
Namespace Prefix: | ofg_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

X
- Definition Finance Receivable, Number of Commercial Loans Sold + References No definition available. + Details
Name: | ofg_FinanceReceivableNumberOfCommercialLoansSold
Namespace Prefix: | ofg_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

X
- Definition Financing Receivable, Allowance for Credit Loss, Increase (Decrease) in Writeoff, after Recovery + References No definition available. + Details
Name: | ofg_FinancingReceivableAllowanceForCreditLossIncreaseDecreaseInWriteoffAfterRecovery
Namespace Prefix: | ofg_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Financing Receivables, Allowance for Credit Loss For Previously Reserved , Write-off + References No definition available. + Details
Name: | ofg_FinancingReceivablesAllowanceForCreditLossForPreviouslyReservedWriteOff
Namespace Prefix: | ofg_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount, after recovery, of writeoff of financing receivable, charged against allowance for credit loss. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919249-210447 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 79 -URI https://asc.fasb.org/extlink&oid=124267575&loc=SL82922352-210448 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1405 -Paragraph (a) -Subparagraph (4) + Details
Name: | us-gaap_FinancingReceivableAllowanceForCreditLossWriteoffAfterRecovery
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=123577603&loc=SL6953423-111524 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(7)(2)) -URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878 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(4)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 45 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=124255206&loc=SL82895884-210446 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919249-210447 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919249-210447 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1405 -Paragraph (a) -Subparagraph (3) Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1405 -Paragraph (c) Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1405 -Paragraph (a) -Subparagraph (1) + Details
Name: | us-gaap_FinancingReceivableAllowanceForCreditLosses
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_FinancingReceivableAllowanceForCreditLossesLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of increase (decrease) in allowance for credit loss on financing receivable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=123577603&loc=SL6953423-111524 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919249-210447 + Details
Name: | us-gaap_FinancingReceivableAllowanceForCreditLossesPeriodIncreaseDecrease
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of increase in allowance for credit loss on financing receivable from recovery. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 79 -URI https://asc.fasb.org/extlink&oid=124267575&loc=SL82922352-210448 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919249-210447 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Subparagraph (c)(4) -URI https://asc.fasb.org/extlink&oid=123577603&loc=SL6953423-111524 + Details
Name: | us-gaap_FinancingReceivableAllowanceForCreditLossesRecovery
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of writeoff of financing receivable, charged against allowance for credit loss. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919249-210447 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Subparagraph (c)(3) -URI https://asc.fasb.org/extlink&oid=123577603&loc=SL6953423-111524 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 79 -URI https://asc.fasb.org/extlink&oid=124267575&loc=SL82922352-210448 + Details
Name: | us-gaap_FinancingReceivableAllowanceForCreditLossesWriteOffs
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of financing receivable reclassified to held-for-sale. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 11 -Subparagraph (i) -URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919244-210447 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=123577603&loc=SL6953423-111524 + Details
Name: | us-gaap_FinancingReceivableReclassificationToHeldForSale
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of credit loss expense (reversal of expense) for financing receivable. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919249-210447 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(11)) -URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 + Details
Name: | us-gaap_ProvisionForLoanLossesExpensed
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Details
Name: | us-gaap_UnusualRiskOrUncertaintyByNatureAxis=ofg_ChangesInEconomicAndLossRateModelsAndMiscellaneousReservesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | ofg_FinancingReceivableLoanSalesAxis=ofg_FinancingReceivableSalesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | ofg_FinancingReceivableLoanSalesAxis=ofg_FinancingReceivableLoanGrowthMemberMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancingReceivablePortfolioSegmentAxis=us-gaap_CommercialPortfolioSegmentMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | ofg_AccruingStatusAxis=ofg_NonaccrualMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancingReceivablePortfolioSegmentAxis=ofg_AutomobileAndLeasingPortfolioSegmentMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancingReceivablePortfolioSegmentAxis=us-gaap_ConsumerPortfolioSegmentMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancingReceivablePortfolioSegmentAxis=us-gaap_ResidentialPortfolioSegmentMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditLossStatusAxis=us-gaap_FinancialAssetAcquiredWithCreditDeteriorationMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_StatementGeographicalAxis=country_PR
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis=us-gaap_GovernmentMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditLossStatusAxis=us-gaap_FinancialAssetAcquiredAndNoCreditDeteriorationMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_UnusualOrInfrequentItemAxis=ofg_ImprovedMacroeconomicConditionsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_UnusualOrInfrequentItemAxis=ofg_COVID19PandemicMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancingReceivablesPeriodPastDueAxis=us-gaap_FinancialAssetPastDueMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |