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ALLOWANCE FOR CREDIT LOSSES (Tables) | 12 Months Ended
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Dec. 31, 2022
Credit Loss [Abstract] |
Schedule of Gross Loan and Allowance for Credit Losses | The following tables present the activity in OFG’s allowance for credit losses by segment for 2022, 2021 and 2020:
| Year Ended December 31, 2022
| Commercial |  | Mortgage |  | Consumer |  | Auto loans and leases |  | Total
| (In thousands)
Non-PCD: |  |  |  |  |  |  |  |  |
Balance at beginning of year | $ | 32,262 |  |  | $ | 15,299 |  |  | $ | 19,141 |  |  | $ | 65,363 |  |  | $ | 132,065 |
Provision for (recapture of) credit losses | 19,076 |  |  | (8,758) |  |  | 16,084 |  |  | 16,016 |  |  | 42,418 |
Charge-offs | (13,380) |  |  | (284) |  |  | (15,198) |  |  | (32,662) |  |  | (61,524) |
Recoveries | 1,200 |  |  | 3,314 |  |  | 3,237 |  |  | 21,131 |  |  | 28,882 |
Balance at end of year | $ | 39,158 |  |  | $ | 9,571 |  |  | $ | 23,264 |  |  | $ | 69,848 |  |  | $ | 141,841 |
PCD: |  |  |  |  |  |  |  |  |
Balance at beginning of year | $ | 4,508 |  |  | $ | 19,018 |  |  | $ | 34 |  |  | $ | 312 |  |  | $ | 23,872 |
(Recapture) provision of credit losses | (6,855) |  |  | (10,629) |  |  | 62 |  |  | (588) |  |  | (18,010) |
Charge-offs | (69) |  |  | (1,695) |  |  | (176) |  |  | (310) |  |  | (2,250) |
Recoveries | 3,804 |  |  | 2,665 |  |  | 94 |  |  | 657 |  |  | 7,220 |
Balance at end of year | $ | 1,388 |  |  | $ | 9,359 |  |  | $ | 14 |  |  | $ | 71 |  |  | $ | 10,832 |
Total allowance for credit losses at end of year | $ | 40,546 |  |  | $ | 18,930 |  |  | $ | 23,278 |  |  | $ | 69,919 |  |  | $ | 152,673 |
| Year Ended December 31, 2021
| Commercial |  | Mortgage |  | Consumer |  | Auto loans and leases |  | Total
| (In thousands)
Non-PCD: |  |  |  |  |  |  |  |  |
Balance at beginning of year | $ | 45,779 |  |  | $ | 19,687 |  |  | $ | 25,253 |  |  | $ | 70,296 |  |  | $ | 161,015 |
(Recapture of) provision for credit losses | (7,130) |  |  | (242) |  |  | 2,868 |  |  | (2,373) |  |  | (6,877) |
Charge-offs | (8,788) |  |  | (5,789) |  |  | (11,880) |  |  | (26,530) |  |  | (52,987) |
Recoveries | 2,401 |  |  | 1,643 |  |  | 2,900 |  |  | 23,970 |  |  | 30,914 |
Balance at end of year | $ | 32,262 |  |  | $ | 15,299 |  |  | $ | 19,141 |  |  | $ | 65,363 |  |  | $ | 132,065 |
PCD: |  |  |  |  |  |  |  |  |
Balance at beginning of year | $ | 16,405 |  |  | $ | 26,389 |  |  | $ | 57 |  |  | $ | 943 |  |  | $ | 43,794 |
(Recapture of) provision for credit losses | (2,585) |  |  | 11,556 |  |  | (317) |  |  | (894) |  |  | 7,760 |
Charge-offs | (12,241) |  |  | (20,350) |  |  | (22) |  |  | (946) |  |  | (33,559) |
Recoveries | 2,929 |  |  | 1,423 |  |  | 316 |  |  | 1,209 |  |  | 5,877 |
Balance at end of year | $ | 4,508 |  |  | $ | 19,018 |  |  | $ | 34 |  |  | $ | 312 |  |  | $ | 23,872 |
Total allowance for credit losses at end of year | $ | 36,770 |  |  | $ | 34,317 |  |  | $ | 19,175 |  |  | $ | 65,675 |  |  | $ | 155,937 |
| Year Ended December 31, 2020
| Commercial |  | Mortgage |  | Consumer |  | Auto loans and leases |  | Total
|  |  | (In thousands)
Non-PCD: |  |  |  |  |  |  |  |  |
Balance at beginning of year | $ | 25,993 |  |  | $ | 8,727 |  |  | $ | 18,446 |  |  | $ | 31,878 |  |  | $ | 85,044 |
Impact of ASC 326 adoption | 3,562 |  |  | 10,980 |  |  | 8,418 |  |  | 16,238 |  |  | 39,198 |
Provision for credit losses | 18,462 |  |  | 258 |  |  | 16,579 |  |  | 51,233 |  |  | 86,532 |
Charge-offs | (4,979) |  |  | (884) |  |  | (21,772) |  |  | (48,547) |  |  | (76,182) |
Recoveries | 2,741 |  |  | 606 |  |  | 3,582 |  |  | 19,494 |  |  | 26,423 |
Balance at end of year | $ | 45,779 |  |  | $ | 19,687 |  |  | $ | 25,253 |  |  | $ | 70,296 |  |  | $ | 161,015 |
PCD: |  |  |  |  |  |  |  |  |
Balance at beginning of year | $ | 8,893 |  |  | $ | 21,655 |  |  | $ | — |  |  | $ | 947 |  |  | $ | 31,495 |
Impact of ASC 326 adoption | 42,143 |  |  | 7,830 |  |  | 181 |  |  | 368 |  |  | 50,522 |
Provision for credit losses | 480 |  |  | 6,392 |  |  | 126 |  |  | 187 |  |  | 7,185 |
Charge-offs | (36,097) |  |  | (10,342) |  |  | (542) |  |  | (2,023) |  |  | (49,004) |
Recoveries | 986 |  |  | 854 |  |  | 292 |  |  | 1,464 |  |  | 3,596 |
Balance at end of year | $ | 16,405 |  |  | $ | 26,389 |  |  | $ | 57 |  |  | $ | 943 |  |  | $ | 43,794 |
Total allowance for credit losses at end of year | $ | 62,184 |  |  | $ | 46,076 |  |  | $ | 25,310 |  |  | $ | 71,239 |  |  | $ | 204,809 |
The allowance for credit losses for 2020 included a $39.9 million provision to incorporate changes in the macro-economic scenario and qualitative adjustments as a result of the Covid-19 pandemic.

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