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ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS
 9 Months Ended
Sep. 30, 2024
Accrued Interest Receivable and Other Assets [Abstract]  
ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS
Accrued interest receivable at September 30, 2024 and December 31, 2023 consists of the following:
September 30, 2024December 31, 2023
(In thousands)
Loans$60,086 $63,526 
Investments10,281 7,874 
$70,367 $71,400 
Accrued interest receivable on loans that participated in the Hurricane Fiona and Covid-19 deferral programs amounted to $18.8 million at September 30, 2024, of which $18.0 million corresponded to loans in current status, and $20.2 million at December 31, 2023, of which $18.2 million corresponded to loans in current status. OFG estimates expected credit losses on accrued interest receivable for loans that participated in moratorium programs. An allowance has been established for loans with delinquency status in 30 to 89 days past due and is calculated by applying the corresponding loan projected loss factors to the accrued interest receivable balance. At September 30, 2024 and December 31, 2023, the ACL for accrued interest receivable for loans that participated in moratorium programs amounted to $103 thousand and $85 thousand, respectively, and is included in accrued interest receivable in the statement of financial condition.
Other assets at September 30, 2024 and December 31, 2023 consist of the following:
September 30, 2024December 31, 2023
(In thousands)
Prepaid expenses$98,931 $63,040 
Other repossessed assets6,969 4,032 
Accounts receivable and other assets62,052 47,859 
$167,952 $114,931 
Prepaid expenses amounting to $98.9 million at September 30, 2024, include prepaid municipal, property and income taxes aggregating to $87.6 million. At December 31, 2023 prepaid expenses amounted to $63.0 million, including prepaid municipal, property and income taxes aggregating to $54.7 million.
Other repossessed assets totaled $7.0 million and $4.0 million at September 30, 2024 and December 31, 2023, respectively, and consist of repossessed automobiles, which are recorded at their net realizable value.