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OFG BANCORP (HOLDING COMPANY ONLY) FINANCIAL INFORMATION (Condensed Statement of Cash Flows Information) (Details) - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021
Cash flows from operating activities: |  |  |
Net income | $ 181,872 | $ 166,239 | $ 146,151
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |
Early extinguishment of debt | 0 | (42) | 1,481
Stock-based compensation | 5,001 | 4,185 | 6,245
Deferred income tax, net | 67,349 | 61,126 | 63,616
Net decrease (increase) in other assets | 4,971 | 35,371 | (9,051)
Net increase (decrease) in accrued expenses and other liabilities | 279 | (34,151) | 18,383
Net cash provided by operating activities | 295,657 | 164,456 | 100,044
Cash flows from investing activities: |  |  |
Premises and equipment | 38 | 4,784 | 570
Additions to premises and equipment | (17,857) | (30,999) | (23,053)
Net cash used in investing activities | (1,404,745) | (1,512,937) | (182,934)
Cash flows from financing activities: |  |  |
Subordinated capital notes | 0 | (34,958) | 0
Exercise of stock options and restricted units lapsed, net | (1,689) | (906) | 283
Redemption of preferred stock | 0 | 0 | (92,000)
Net cash provided by (used in ) financing activities | 1,306,797 | (124,705) | (49,037)
Net change in cash, cash equivalents and restricted cash | 197,709 | (1,473,186) | (131,927)
Cash and cash equivalents at beginning of year | 546,146 | 2,014,523 |
Cash and cash equivalents at end of year | 743,550 | 546,146 | 2,014,523
Parent Company |  |  |
Cash flows from operating activities: |  |  |
Net income | 181,872 | 166,239 | 146,151
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |
Early extinguishment of debt | 0 | (42) | 0
Stock-based compensation | 731 | 652 | 940
Deferred income tax, net | 630 | 1,703 | 10
Net decrease (increase) in other assets | 1,270 | 18,829 | (13,471)
Net increase (decrease) in accrued expenses and other liabilities | 2,149 | (488) | 950
Net cash provided by operating activities | 52,459 | 165,858 | 191,865
Cash flows from investing activities: |  |  |
Premises and equipment | 0 | 0 | 240
Additions to premises and equipment | (30) | (233) | (288)
Net cash used in investing activities | (30) | (233) | (9,348)
Cash flows from financing activities: |  |  |
Subordinated capital notes | 0 | (34,958) | 0
Exercise of stock options and restricted units lapsed, net | (1,689) | (906) | 283
Purchase of treasury stock | (18,653) | (64,110) | (49,872)
Redemption of preferred stock | 0 | 0 | (92,000)
Dividends paid | (41,011) | (30,090) | (20,973)
Net decrease in due to non-bank subsidiary, net | 3 | 0 | 0
Net cash provided by (used in ) financing activities | (61,353) | (130,064) | (162,562)
Net change in cash, cash equivalents and restricted cash | (8,924) | 35,561 | 19,955
Cash and cash equivalents at beginning of year | 82,045 | 46,484 | 26,529
Cash and cash equivalents at end of year | 73,121 | 82,045 | 46,484
Bank subsidiary |  |  |
Cash flows from operating activities: |  |  |
Net income | 170,658 | 162,236 | 144,089
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |
Equity in earnings | (170,658) | (162,236) | (144,089)
Dividends from subsidiary | 45,000 | 140,000 | 197,000
Nonbank subsidiaries |  |  |
Cash flows from operating activities: |  |  |
Net income | 12,538 | 8,299 | 6,626
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |
Equity in earnings | (12,538) | (8,299) | (6,626)
Dividends from subsidiary | 4,000 | 9,500 | 11,000
Cash flows from investing activities: |  |  |
Capital contribution to non-banking subsidiary | $ 0 | $ 0 | $ 9,300

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