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BORROWINGS AND RELATED INTEREST (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of Federal Home Loan Bank Advances

The following table shows a summary of the advances and their terms, excluding accrued interest in the amount of $774 thousand and $103 thousand at September 30, 2023 and December 31, 2022, respectively:


	September 30,		December 31,
	2023		2022
	(In thousands)
Short-term fixed-rate advances from FHLB, with a weighted average interest rate of 5.59% (December 31, 2022 - 4.46%)	$	100,000	$	26,613
Long-term fixed-rate advance from FHLB, with a weighted average interest rate of 4.52%	200,000		—
	$	300,000	$	26,613

Advances from FHLB mature as follows:


	September 30,		December 31,
	2023		2022
	(In thousands)
Under 90 days	$	100,000	$	26,613
Over one to three years	200,000		—


	$	300,000	$	26,613

Schedule of Repurchase Agreements

The following table shows OFG’s repurchase agreements, excluding accrued interest in the amount of $68 thousand at September 30, 2023:


	September 30,
	2023
	(In thousands)
Short-term fixed-rate repurchase agreements, with a weighted average interest rate of 5.47%	$	150,633

Repurchase agreements’ maturities were as follows:


	September 30,
	2023
	(In thousands)
Under 90 days	$	150,633

All of the repurchase agreements referred to above with maturity dates up to the date of this report were renewed as short-term repurchase agreements.

The following securities were sold under agreements to repurchase:


	September 30, 2023
Underlying Securities	Amortized Cost of Underlying Securities		Balance of Borrowing		Approximate Fair Value of Underlying Securities		Weighted Average Interest Rate of Security
	(In thousands)
FNMA and FHMLC Certificates	$	183,004	$	150,633	$	161,973	2.95	%

There were no repurchase agreements at December 31, 2022.