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v3.23.1

ALLOWANCE FOR CREDIT LOSSES (Tables) | 3 Months Ended
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Mar. 31, 2023
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 quarters ended March 31, 2023 and 2022:
| Quarter Ended March 31, 2023
| Commercial |  | Mortgage |  | Consumer |  | Auto and Leasing |  | Total
| (In thousands)
Non-PCD: |  |  |  |  |  |  |  |  |
Balance at beginning of period | $ | 39,158 |  |  | $ | 9,571 |  |  | $ | 23,264 |  |  | $ | 69,848 |  |  | $ | 141,841 |
(Recapture of) provision for credit losses | (335) |  |  | (503) |  |  | 5,974 |  |  | 2,896 |  |  | 8,032 |
Charge-offs | (1,375) |  |  | (201) |  |  | (5,440) |  |  | (9,479) |  |  | (16,495) |
Recoveries | 326 |  |  | 216 |  |  | 866 |  |  | 6,599 |  |  | 8,007 |
Balance at end of period | $ | 37,774 |  |  | $ | 9,083 |  |  | $ | 24,664 |  |  | $ | 69,864 |  |  | $ | 141,385 |
PCD: |  |  |  |  |  |  |  |  |
Balance at beginning of period | $ | 1,388 |  |  | $ | 9,359 |  |  | $ | 14 |  |  | $ | 71 |  |  | $ | 10,832 |
Provision for (recapture of) credit losses | 1,920 |  |  | (814) |  |  | 200 |  |  | (7) |  |  | 1,299 |
Charge-offs | (2,104) |  |  | (75) |  |  | (213) |  |  | (87) |  |  | (2,479) |
Recoveries | 489 |  |  | 247 |  |  | 11 |  |  | 100 |  |  | 847 |
Balance at end of period | $ | 1,693 |  |  | $ | 8,717 |  |  | $ | 12 |  |  | $ | 77 |  |  | $ | 10,499 |
Total allowance for credit losses at end of period | $ | 39,467 |  |  | $ | 17,800 |  |  | $ | 24,676 |  |  | $ | 69,941 |  |  | $ | 151,884 |
| Quarter Ended March 31, 2022
| Commercial |  | Mortgage |  | Consumer |  | Auto and Leasing |  | Total
| (In thousands)
Non-PCD: |  |  |  |  |  |  |  |  |
Balance at beginning of period | $ | 32,262 |  |  | $ | 15,299 |  |  | $ | 19,141 |  |  | $ | 65,363 |  |  | $ | 132,065 |
Provision for (recapture of) credit losses | 5,187 |  |  | (2,418) |  |  | 3,963 |  |  | 1,831 |  |  | 8,563 |
Charge-offs | (544) |  |  | (3) |  |  | (2,659) |  |  | (7,890) |  |  | (11,096) |
Recoveries | 192 |  |  | 2,074 |  |  | 655 |  |  | 4,891 |  |  | 7,812 |
Balance at end of period | $ | 37,097 |  |  | $ | 14,952 |  |  | $ | 21,100 |  |  | $ | 64,195 |  |  | $ | 137,344 |
PCD: |  |  |  |  |  |  |  |  |
Balance at beginning of period | $ | 4,508 |  |  | $ | 19,018 |  |  | $ | 34 |  |  | $ | 312 |  |  | $ | 23,872 |
(Recapture of) provision for credit losses | (3,875) |  |  | (2,848) |  |  | 13 |  |  | (138) |  |  | (6,848) |
Charge-offs | (34) |  |  | (1,134) |  |  | (39) |  |  | (114) |  |  | (1,321) |
Recoveries | 3,023 |  |  | 845 |  |  | 23 |  |  | 137 |  |  | 4,028 |
Balance at end of period | $ | 3,622 |  |  | $ | 15,881 |  |  | $ | 31 |  |  | $ | 197 |  |  | $ | 19,731 |
Total allowance for credit losses at end of period | $ | 40,719 |  |  | $ | 30,833 |  |  | $ | 21,131 |  |  | $ | 64,392 |  |  | $ | 157,075 |

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- Definition Tabular disclosure of allowance for credit loss on financing receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479319/326-20-50-13 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Publisher FASB -URI https://asc.fasb.org//1943274/2147481962/310-10-50-11B + Details
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