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LOANS

12 Months Ended

Dec. 31, 2024

OFG’s loan portfolio is composed of four segments: commercial, mortgage, consumer, and auto loans. Loans are further segregated into classes which OFG uses when assessing and monitoring the risk and performance of the portfolio.

The composition of the amortized cost basis of OFG’s loan portfolio at December 31, 2024 and 2023 was as follows:


	December 31, 2024						December 31, 2023
	Non-PCD		PCD		Total		Non-PCD		PCD		Total
	(In thousands)
Commercial PR:
Commercial secured by real estate	$	1,222,395	$	77,196	$	1,299,591	$	1,095,207	$	120,988	$	1,216,195
Other commercial and industrial	1,087,886		11,533		1,099,419		1,091,021		14,459		1,105,480
	2,310,281		88,729		2,399,010		2,186,228		135,447		2,321,675
Commercial US	704,081		—		704,081		755,228		—		755,228
Total commercial loans	3,014,362		88,729		3,103,091		2,941,456		135,447		3,076,903
Mortgage loans	628,853		841,964		1,470,817		629,247		933,362		1,562,609
Consumer loans:
Personal loans	620,430		245		620,675		568,358		264		568,622
Credit lines	10,126		353		10,479		10,926		288		11,214
Credit cards	36,956		—		36,956		40,314		—		40,314
Overdraft	451		—		451		296		—		296
	667,963		598		668,561		619,894		552		620,446
Auto loans	2,549,033		460		2,549,493		2,272,530		1,891		2,274,421
	6,860,211		931,751		7,791,962		6,463,127		1,071,252		7,534,379
Allowance for credit losses	(170,709)		(5,154)		(175,863)		(152,610)		(8,496)		(161,106)
Total loans held for investment, net	6,689,502		926,597		7,616,099		6,310,517		1,062,756		7,373,273
Mortgage loans held-for-sale	13,286		—		13,286		—		—		—
Other loans held-for-sale	4,446		—		4,446		28,345		—		28,345
Total loans held-for-sale	17,732		—		17,732		28,345		—		28,345
Total loans, net	$	6,707,234	$	926,597	$	7,633,831	$	6,338,862	$	1,062,756	$	7,401,618

During 2024, OFG sold $56.6 million commercial loans held-for-sale and recognized a $900 thousand gain, included in other non-interest income in the consolidated statement of operations. During 2023, OFG sold non-performing Puerto Rico small business commercial loans held-for-sale amounting to $4.3 million, with an unpaid principal balance of $25.3 million and recognized a $6.3 million gain, included in other non-interest income in the consolidated statement of operations. At December 31, 2024 and 2023, OFG had $4.4 million and $28.3 million, respectively, in commercial loans held-for-sale.

At December 31, 2024 and 2023, OFG had carrying balances of $66.4 million and $68.6 million, respectively, in loans held-for-investment granted to the Puerto Rico government or its instrumentalities as part of the commercial loan segment. The Bank’s loans to the Puerto Rico government are general obligations of municipalities secured by ad valorem taxation, without limitation as to rate or amount, on all taxable property within the issuing municipalities in current status. The good faith, credit and unlimited taxing power of each issuing municipality are pledged for the payment of its general obligations.

The tables below present the aging of the amortized cost of loans held for investment at December 31, 2024 and 2023, by class of loans. Mortgage loans past due include $48.6 million and $19.4 million of delinquent loans in the GNMA buy-back option program at December 31, 2024 and 2023, respectively. During 2024, OFG acquired the servicing rights to a $1.7 billion mortgage loan portfolio that was being subserviced by the Bank. At the time of acquisition, defaulted loans under the GNMA buy-back option program corresponding to this servicing portfolio amounted to $24.2 million. Servicers of loans underlying GNMA mortgage-backed securities must report as their own assets the defaulted loans that they have the option (but not the obligation) to repurchase, even when they elect not to exercise that option.


	December 31, 2024
	30-59 Days Past Due		60-89 Days Past Due		90+ Days Past Due		Total Past Due		Current		Total Loans		Loans 90+ Days Past Due and Still Accruing
	(In thousands)
Commercial PR:
Commercial secured by real estate	$	879	$	215	$	9,780	$	10,874	$	1,211,521	$	1,222,395	$	—
Other commercial and industrial	597		629		3,588		4,814		1,083,072		1,087,886		—
	1,476		844		13,368		15,688		2,294,593		2,310,281		—
Commercial US	—		4,505		—		4,505		699,576		704,081		—
Total commercial loans	1,476		5,349		13,368		20,193		2,994,169		3,014,362		—
Mortgage loans	5,362		6,069		59,995		71,426		557,427		628,853		2,047
Consumer loans:
Personal loans	8,522		4,655		3,494		16,671		603,759		620,430		—
Credit lines	53		38		125		216		9,910		10,126		—
Credit cards	670		255		571		1,496		35,460		36,956		—
Overdraft	88		—		—		88		363		451		—
	9,333		4,948		4,190		18,471		649,492		667,963		—
Auto loans	119,805		50,208		20,055		190,068		2,358,965		2,549,033		—
Total loans	$	135,976	$	66,574	$	97,608	$	300,158	$	6,560,053	$	6,860,211	$	2,047


	December 31, 2023
	30-59 Day Past Due		60-89 Days Past Due		90+ Days Past Due		Total Past Due		Current		Total Loans		Loans 90+ Days Past Due and Still Accruing
	(In thousands)
Commercial PR:
Commercial secured by real estate	$	1,585	$	411	$	5,671	$	7,667	$	1,087,540	$	1,095,207	$	—
Other commercial and industrial	1,366		291		4,974		6,631		1,084,390		1,091,021		—
	2,951		702		10,645		14,298		2,171,930		2,186,228		—
Commercial US	—		—		—		—		755,228		755,228		—
Total commercial loans	2,951		702		10,645		14,298		2,927,158		2,941,456		—
Mortgage loans	6,107		9,596		31,557		47,260		581,987		629,247		2,478
Consumer loans:
Personal loans	6,115		4,041		2,755		12,911		555,447		568,358		—
Credit lines	137		35		35		207		10,719		10,926		—
Credit cards	657		280		586		1,523		38,791		40,314		—
Overdraft	87		14		—		101		195		296		—
	6,996		4,370		3,376		14,742		605,152		619,894		—
Auto loans	101,610		46,071		19,056		166,737		2,105,793		2,272,530		—
Total loans	$	117,664	$	60,739	$	64,634	$	243,037	$	6,220,090	$	6,463,127	$	2,478

As of December 31, 2023, total past due loans exclude $6.4 million of past due commercial loans held-for-sale, these loans were sold during 2024. There were no past due commercial loans held-for-sale as of December 31, 2024.

Upon adoption of CECL, OFG elected to maintain pools of loans that were previously accounted for under ASC 310-30 and will continue to account for these pools as a unit of account. As such, PCD loans are not included in the preceding two tables.

Non-accrual Loans

The following table presents the amortized cost basis of loans held for investment on non-accrual status as of December 31, 2024 and 2023:


	December 31, 2024						December 31, 2023
	Non-accrual with Allowance for Credit Loss		Non-accrual with no Allowance for Credit Loss		Total		Non-accrual with Allowance for Credit Loss		Non-accrual with no Allowance for Credit Loss		Total
	(In thousands)						(In thousands)
Non-PCD:
Commercial PR:
Commercial secured by real estate	$	4,610	$	6,248	$	10,858	$	3,553	$	7,929	$	11,482
Other commercial and industrial	1,855		1,996		3,851		4,560		830		5,390
	6,465		8,244		14,709		8,113		8,759		16,872
Commercial US	21,317		2,887		24,204		19,224		—		19,224
Total commercial loans	27,782		11,131		38,913		27,337		8,759		36,096
Mortgage loans	8,770		3,153		11,923		10,339		3,858		14,197
Consumer loans:
Personal loans	3,468		44		3,512		2,741		14		2,755
Credit lines	125		—		125		35		—		35
Credit cards	570		—		570		586		—		586
	4,163		44		4,207		3,362		14		3,376
Auto loans	20,049		6		20,055		19,051		5		19,056
Total	$	60,764	$	14,334	$	75,098	$	60,089	$	12,636	$	72,725

PCD:
Commercial PR:
Commercial secured by real estate	$	—	$	1,946	$	1,946	$	3,060	$	2,417	$	5,477
Other commercial and industrial	695		—		695		—		947		947
Total commercial loans	695		1,946		2,641		3,060		3,364		6,424
Mortgage loans	239		—		239		250		—		250



Total	$	934	$	1,946	$	2,880	$	3,310	$	3,364	$	6,674
Total non-accrual loans	$	61,698	$	16,280	$	77,978	$	63,399	$	16,000	$	79,399

The determination of non-accrual or accrual status of PCD loans is made at the pool level, not the individual loan level.

As of December 31, 2023, total commercial non-accrual loans exclude $6.4 million of non-accrual commercial loans held-for-sale, these loans were sold during 2024. There were no commercial non-accrual loans held-for-sale at December 31, 2024.

Delinquent residential mortgage loans insured or guaranteed under applicable FHA and VA programs are classified as non-performing loans when they become 90 days or more past due but are not placed in non-accrual status until they become 12 months or more past due, since they are insured loans. Therefore, those loans are included as non-performing loans but excluded from non-accrual loans.

Modifications to Debtors Experiencing Financial Difficulty

OFG’s loss mitigation program was designed to ensure that borrowers experiencing financial difficulties have the opportunity to continue paying their obligations. The loss mitigation alternatives are divided depending on the borrower’s hardship and its ability to continue with regular payment or with a new modified payment plan. The loss mitigation program provides alternatives for home retention or disposition options avoiding foreclosure proceedings and collateral retention.

OFG offers various types of loan modifications to borrowers experiencing financial difficulty in the form of an interest rate reduction, an other-than-insignificant payment delay, a term extension, interest or principal forbearance or forgiveness, or any combination of these types of concessions.

At December 31, 2024 and 2023, the amortized cost of modified loans excludes $127 thousand and $188 thousand, respectively, in accrued interest receivable. Accrued interest receivable on loans is included in the “accrued interest receivable” line in OFG’s consolidated statements of financial condition. The amortized cost of modified loans during 2024 and 2023, includes $1.0 million and $4.6 million, respectively, of government-guaranteed loans (e.g., FHA/VA).

The following tables present the amortized cost basis as of December 31, 2024 and 2023 of loans held for investment that were modified during 2024 and 2023, disaggregated by class of financing receivable and type of concession granted.


	Year Ended December 31, 2024
	Interest Rate Reduction				Term Extension				Principal Forbearance / Forgiveness				Combination of Term Extension and Interest Rate Reduction				Combination of Term Extension and Principal Forgiveness / Forbearance
	Amortized Cost Basis		% of Total Class of Financing Receivable		Amortized Cost Basis		% of Total Class of Financing Receivable		Amortized Cost Basis		% of Total Class of Financing Receivable		Amortized Cost Basis		% of Total Class of Financing Receivable		Amortized Cost Basis		% of Total Class of Financing Receivable
	(Dollars in thousands)




Commercial US	$	9,257	1.31	%	$	—	—	%	$	6,286	0.89	%	$	—	—	%	$	—	—	%

Mortgage loans	—		—	%	1,682		0.11	%	—		—	%	88		0.01	%	105		0.01	%
Consumer:
Personal loans	26		—	%	6		—	%	—		—	%	—		—	%	—		—	%




Auto loans	162		0.01	%	—		—	%	—		—	%	—		—	%	—		—	%
Total	$	9,445			$	1,688			$	6,286			$	88			$	105


	Year Ended December 31, 2023
	Interest Rate Reduction				Term Extension				Principal Forbearance / Forgiveness				Combination of Term Extension and Interest Rate Reduction				Combination of Term Extension and Principal Forgiveness / Forbearance
	Amortized Cost Basis		% of Total Class of Financing Receivable		Amortized Cost Basis		% of Total Class of Financing Receivable		Amortized Cost Basis		% of Total Class of Financing Receivable		Amortized Cost Basis		% of Total Class of Financing Receivable		Amortized Cost Basis		% of Total Class of Financing Receivable
	(Dollars in thousands)
Commercial PR:
Commercial secured by real estate	$	—	—	%	$	6,332	0.52	%	$	—	—	%	$	—	—	%	$	—	—	%
Other commercial and industrial	—		—	%	689		0.06	%	—		—	%	—		—	%	—		—	%
	—		—	%	7,021		0.23	%	—		—	%	—		—	%	—		—	%
Commercial US	6,649		0.88	%	—		—	%	—		—	%	—		—	%	4,183		0.55	%
Total commercial loans	6,649		0.88	%	7,021		0.23	%	—		—	%	—		—	%	4,183		0.55	%
Mortgage loans	—		—	%	5,777		0.37	%	97		0.01	%	710		0.05	%	440		0.03	%
Consumer:
Personal loans	37		0.01	%	—		—	%	—		—	%	80		0.01	%	—		—	%




Auto loans	48		—	%	13		—	%	—		—	%	53		—	%	—		—	%
Total	$	6,734			$	12,811			$	97			$	843			$	4,623

Our credit loss estimation methodology incorporates a lifetime approach, utilizing modeled loan performance based on the historical experience of loans with similar risk characteristics, adjusted for current conditions, and reasonable and supportable forecasts. The model considers extensive historical loss experience, including the impact of loss mitigation programs offered to borrowers facing financial difficulty and projected loss severity from loan defaults, and is applied consistently across all portfolio segments. Additionally, our ACL is recorded on each asset upon origination or acquisition and is based on historical loss information, including modifications made to borrowers facing financial difficulty, and expected behavior. Changes to the ACL are generally not recorded upon modification, as the effects of most modifications are already considered in the estimation methodology. Refer to Note 6 – Allowance for Credit Losses for additional information.


	Year Ended December 31, 2024
	Weighted-Average Interest Rate Reduction		Weighted-Average Term Extension (In months)	Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands)



Commercial US	0.73	%	0	$	623

Mortgage loans	0.38	%	149	11
Consumer loans:
Personal loans	5.00	%	18	—



Auto loans	2.82	%	0	—


	Year Ended December 31, 2023
	Weighted-Average Interest Rate Reduction		Weighted-Average Term Extension (In months)	Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands)
Commercial PR:
Commercial loans secured by real estate	—	%	23	$	—

Commercial US	1.95	%	31	2,973

Mortgage loans	1.94	%	213	24
Consumer loans:
Personal loans	2.98	%	81	—



Auto loans	3.00	%	0	—

The following tables present the amortized cost basis as of December 31, 2024 and 2023, of loans held for investment that had a payment default subsequent to being granted a modification to borrowers experiencing financial difficulty in the prior twelve months.


	Twelve-Months Ended December 31, 2024
	Amortized Cost Basis of Modified Financing Receivables that Subsequently Defaulted
	Interest Rate Reduction		Term Extension		Principal Forgiveness/Forbearance		Combination - Term Extension and Interest Rate Reduction		Total
	(In thousands)






Mortgage loans	$	—	$	149	$	—	$	—	$	149


	Twelve-Months Ended December 31, 2023
	Amortized Cost Basis of Modified Financing Receivables that Subsequently Defaulted
	Interest Rate Reduction		Term Extension		Principal Forgiveness/Forbearance		Combination - Term Extension and Interest Rate Reduction		Total
	(In thousands)






Mortgage loans	$	—	$	704	$	—	$	—	$	704

A payment default for a financial difficulty modification loan is defined as reaching 90 days past due with respect to principal and/or interest payments or when the borrower missed three consecutive monthly payments since modification. Payment defaults is one of the factors considered when projecting future cash flows in the calculation of the ACL of loans.

OFG closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table presents the payment status of loans that have been modified in the year ended December 31, 2024 and 2023 that were granted to borrowers experiencing financial difficulty.


	December 31, 2024
	30-59 Day Past Due		60-89 Days Past Due		90+ Days Past Due		Total Past Due		Current		Total
	(In thousands)





Commercial US	$	—	$	—	$	—	$	—	$	15,543	$	15,543

Mortgage loans	118		37		149		304		1,571		1,875
Consumer loans:
Personal loans	—		—		—		—		32		32




Auto loans	—		—		—		—		162		162
Total	$	118	$	37	$	149	$	304	$	17,308	$	17,612


	December 31, 2023
	30-59 Day Past Due		60-89 Days Past Due		90+ Days Past Due		Total Past Due		Current		Total
	(In thousands)
Commercial PR:
Commercial loans secured by real estate	$	—	$	—	$	—	$	—	$	6,332	$	6,332
Other commercial and industrial	—		—		—		—		689		689
	—		—		—		—		7,021		7,021
Commercial US	—		—		—		—		10,832		10,832
Total commercial loans	—		—		—		—		17,853		17,853
Mortgage loans	471		297		583		1,351		5,673		7,024
Consumer loans:
Personal loans	—		—		—		—		117		117




Auto loans	30		—		—		30		84		114
Total	$	501	$	297	$	583	$	1,381	$	23,727	$	25,108

There were no outstanding commitments to lend additional funds to debtors experiencing financial difficulties at December 31, 2024 and 2023.

As of December 31, 2024 and 2023, the recorded investment on residential mortgage loans collateralized by residential real estate property that were in the process of foreclosure amounted to $25.0 million and $24.1 million, respectively. OFG commences the foreclosure process on residential real estate loans when a borrower becomes 120 days delinquent. Puerto Rico and the USVI require the foreclosure to be processed through their respective courts. Foreclosure timelines vary according to local law and investor guidelines. Occasionally, foreclosures may be delayed due to, among other reasons, mandatory mediation, bankruptcy, court delays and property title issues.

Collateral-dependent Loans

The table below presents the amortized cost of commercial collateral-dependent loans held for investment at December 31, 2024 and 2023, by class of loans.


	December 31,
	2024		2023
	(In thousands)
Commercial PR:
Commercial loans secured by real estate	$	6,877	$	8,027

PCD loans, except for single-pooled loans, are not included in the table above as their unit of account is the loan pool.

Credit Quality Indicators

OFG categorizes its loans into loan grades based on relevant information about the ability of borrowers to service their debts, such as economic conditions, portfolio risk characteristics, prior loss experience, and the results of periodic credit reviews of individual loans.

OFG uses the following definitions for loan grades:

Pass: Loans classified as “pass” have a well-defined primary source of repayment very likely to be sufficient, with no apparent risk, strong financial position, minimal operating risk, profitability, liquidity and capitalization better than industry standards.

Special Mention: Loans classified as “special mention” have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date.

Substandard: Loans classified as “substandard” are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.

Doubtful: Loans classified as “doubtful” have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, questionable and improbable.

Loss: Loans classified as “loss” are considered uncollectible and of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the asset has absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off this worthless loan even though partial recovery may be effected in the future.

Loans not meeting the criteria above that are analyzed individually as part of the process described above are considered to be pass loans.

As of December 31, 2024, and based on the most recent analysis performed, the risk category of loans held for investment subject to risk rating by class of loans, and current year-to-date period gross charge-offs by year of origination is as follows:


	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans Amortized Cost Basis		Total
	2024		2023		2022		2021		2020		Prior
	(In thousands)
Commercial PR:
Commercial secured by real estate:
Loan grade:
Pass	$	219,185	$	204,144	$	229,955	$	190,891	$	106,562	$	180,600	$	46,448	$	1,177,785
Special Mention	—		13,702		7,205		6,192		909		3,721		73		31,802
Substandard	—		—		554		1,479		1,198		8,572		1,005		12,808
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total commercial secured by real estate	219,185		217,846		237,714		198,562		108,669		192,893		47,526		1,222,395
Commercial secured by real estate:
YTD gross charge-offs	—		184		—		—		—		26		—		210
Other commercial and industrial:
Loan grade:
Pass	146,372		269,680		48,516		49,751		23,858		13,508		477,838		1,029,523
Special Mention	—		373		3,281		45,012		—		136		4,920		53,722
Substandard	21		15		317		640		111		825		2,712		4,641
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total other commercial and industrial:	146,393		270,068		52,114		95,403		23,969		14,469		485,470		1,087,886
Other commercial and industrial:
YTD gross charge-offs	117		143		298		3,573		—		238		—		4,369
Commercial US:
Loan grade:
Pass	56,534		120,064		21,648		57,736		20,138		21,884		273,971		571,975
Special Mention	—		—		—		—		—		—		39,896		39,896
Substandard	16,094		16,422		26,536		4,689		—		5,647		21,204		90,592
Doubtful	1,618		—		—		—		—		—		—		1,618
Loss	—		—		—		—		—		—		—		—
Total Commercial US:	74,246		136,486		48,184		62,425		20,138		27,531		335,071		704,081
Commercial US:
YTD gross charge-offs	—		—		392		1,749		—		1,497		—		3,638
Total commercial loans	$	439,824	$	624,400	$	338,012	$	356,390	$	152,776	$	234,893	$	868,067	$	3,014,362
Total YTD gross charge-offs	$	117	$	327	$	690	$	5,322	$	—	$	1,761	$	—	$	8,217

As of December 31, 2023, and based on the most recent analysis performed, the risk category of loans held for investment subject to risk rating by class of loans is as follows:


	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans Amortized Cost Basis		Total
	2023		2022		2021		2020		2019		Prior
	(In thousands)
Commercial PR:
Commercial secured by real estate:
Loan grade:
Pass	$	224,598	$	216,205	$	195,884	$	120,489	$	80,671	$	131,016	$	65,873	$	1,034,736
Special Mention	—		1,772		6,554		5,057		15,676		12,500		153		41,712
Substandard	—		459		1,386		1,109		2,615		11,939		1,236		18,744
Doubtful	—		—		—		—		—		15		—		15
Loss	—		—		—		—		—		—		—		—
Total commercial secured by real estate	224,598		218,436		203,824		126,655		98,962		155,470		67,262		1,095,207
Commercial secured by real estate:
YTD gross charge-offs	—		—		265		—		94		820		—		1,179
Other commercial and industrial:
Loan grade:
Pass	284,615		99,522		113,760		37,665		7,438		14,836		527,008		1,084,844
Special Mention	8		2,953		—		—		51		100		—		3,112
Substandard	3		473		826		259		935		186		383		3,065
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total other commercial and industrial:	284,626		102,948		114,586		37,924		8,424		15,122		527,391		1,091,021
Other commercial and industrial:
YTD gross charge-offs	—		124		1,095		89		9		1,180		—		2,497
Commercial US:
Loan grade:
Pass	142,222		63,885		69,233		31,206		28,202		8,085		358,757		701,590
Special Mention	—		7,803		—		—		—		—		20,913		28,716
Substandard	10,832		—		—		—		—		5,699		8,391		24,922
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total Commercial US:	153,054		71,688		69,233		31,206		28,202		13,784		388,061		755,228
Commercial US:
YTD gross charge-offs	33		1,156		642		47		—		8,637		—		10,515
Total commercial loans	$	662,278	$	393,072	$	387,643	$	195,785	$	135,588	$	184,376	$	982,714	$	2,941,456
Total YTD gross charge-offs	$	33	$	1,280	$	2,002	$	136	$	103	$	10,637	$	—	$	14,191

At December 31, 2024 and 2023, the balance of revolving commercial loans converted to term loans was $191.9 million and $144.1 million, respectively.

OFG considers the performance of the loan portfolio and its impact on the ACL. For mortgage and consumer loan classes, OFG also evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity.

The following table presents the amortized cost in mortgage and consumer loans held for investment based on payment activity as of December 31, 2024:


	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans Amortized Cost Basis		Total
	2024		2023		2022		2021		2020		Prior
	(In thousands)
Mortgage loans:
Payment performance:
Performing	$	41,100	$	18,986	$	23,207	$	28,034	$	20,203	$	480,388	$	—	$	611,918
Nonperforming	148		636		107		466		102		15,476		—		16,935
Total mortgage loans:	41,248		19,622		23,314		28,500		20,305		495,864		—		628,853
Mortgage loans:
YTD gross charge-offs	—		—		—		—		—		126		—		126
Consumer loans:
Personal loans:
Payment performance:
Performing	265,955		175,932		114,654		40,794		11,563		8,020		—		616,918
Nonperforming	438		1,292		1,266		353		51		112		—		3,512
Total personal loans	266,393		177,224		115,920		41,147		11,614		8,132		—		620,430
Personal loans:
YTD gross charge-offs	1,425		10,788		11,973		3,443		700		1,088		—		29,417
Credit lines:
Payment performance:
Performing	—		—		—		—		—		—		10,001		10,001
Nonperforming	—		—		—		—		—		—		125		125
Total credit lines	—		—		—		—		—		—		10,126		10,126
Credit lines:
YTD gross charge-offs	—		—		—		—		—		—		156		156
Credit cards:
Payment performance:
Performing	—		—		—		—		—		—		36,386		36,386
Nonperforming	—		—		—		—		—		—		570		570
Total credit cards	—		—		—		—		—		—		36,956		36,956
Credit cards:
YTD gross charge-offs	—		—		—		—		—		—		2,781		2,781
Overdrafts:
Payment performance:
Performing	—		—		—		—		—		—		451		451
Nonperforming	—		—		—		—		—		—		—		—
Total overdrafts	—		—		—		—		—		—		451		451
Overdrafts:
YTD gross charge-offs	—		—		—		—		—		—		912		912
Total consumer loans	266,393		177,224		115,920		41,147		11,614		8,132		47,533		667,963
Total consumer loans YTD gross charge-offs	1,425		10,788		11,973		3,443		700		1,088		3,849		33,266
Total mortgage and consumer loans	$	307,641	$	196,846	$	139,234	$	69,647	$	31,919	$	503,996	$	47,533	$	1,296,816
Total mortgage and consumer loans YTD gross charge-offs	$	1,425	$	10,788	$	11,973	$	3,443	$	700	$	1,214	$	3,849	$	33,392

The following table presents the amortized cost in mortgage and consumer loans held for investment based on payment activity as of December 31, 2023:


	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans Amortized Cost Basis		Total
	2023		2022		2021		2020		2019		Prior
	(In thousands)
Mortgage loans:
Payment performance:
Performing	$	24,623	$	19,722	$	23,303	$	15,821	$	14,589	$	511,182	$	—	$	609,240
Nonperforming	—		—		181		108		479		19,239		—		20,007
Total mortgage loans:	24,623		19,722		23,484		15,929		15,068		530,421		—		629,247
Mortgage loans:
YTD gross charge-offs	—		4		—		—		—		755		—		759
Consumer loans:
Personal loans:
Payment performance:
Performing	270,883		186,612		68,133		19,185		14,460		6,330		—		565,603
Nonperforming	503		1,588		304		193		66		101		—		2,755
Total personal loans	271,386		188,200		68,437		19,378		14,526		6,431		—		568,358
Personal loans:
YTD gross charge-offs	1,748		10,512		4,661		830		1,384		731		—		19,866
Credit lines:
Payment performance:
Performing	—		—		—		—		—		—		10,891		10,891
Nonperforming	—		—		—		—		—		—		35		35
Total credit lines	—		—		—		—		—		—		10,926		10,926
Credit lines:
YTD gross charge-offs	—		—		—		—		—		—		419		419
Credit cards:
Payment performance:
Performing	—		—		—		—		—		—		39,728		39,728
Nonperforming	—		—		—		—		—		—		586		586
Total credit cards	—		—		—		—		—		—		40,314		40,314
Credit cards:
YTD gross charge-offs	—		—		—		—		—		—		2,825		2,825
Overdrafts:
Payment performance:
Performing	—		—		—		—		—		—		296		296
Nonperforming	—		—		—		—		—		—		—		—
Total overdrafts	—		—		—		—		—		—		296		296
Overdrafts:
YTD gross charge-offs	—		—		—		—		—		—		545		545
Total consumer loans	271,386		188,200		68,437		19,378		14,526		6,431		51,536		619,894
Total consumer loans YTD gross charge-offs	1,748		10,512		4,661		830		1,384		731		3,789		23,655
Total mortgage and consumer loans	$	296,009	$	207,922	$	91,921	$	35,307	$	29,594	$	536,852	$	51,536	$	1,249,141
Total mortgage and consumer loans YTD gross charge-offs	$	1,748	$	10,516	$	4,661	$	830	$	1,384	$	1,486	$	3,789	$	24,414

At December 31, 2024, the balance of mortgage and consumer revolving loans that were converted to term loans was $2.2 million. At December 31, 2023, there were no mortgage and consumer revolving loans that were converted to term loans.

OFG evaluates credit quality for auto loans based on FICO score. The following table presents the amortized cost in auto loans held for investment based on their most recent FICO score as of December 31, 2024:


	Term Loans Amortized Cost Basis by Origination Year												Total
	2024		2023		2022		2021		2020		Prior
	(In thousands)
Auto loans:
FICO score:
1-660	$	157,865	$	191,510	$	163,990	$	93,675	$	41,016	$	38,369	$	686,425
661-699	172,579		116,145		69,573		36,607		15,583		13,720		424,207
700+	521,507		397,649		243,449		130,613		66,571		54,947		1,414,736
No FICO	5,266		6,630		5,616		3,255		1,265		1,633		23,665
Total auto loans	$	857,217	$	711,934	$	482,628	$	264,150	$	124,435	$	108,669	$	2,549,033
Auto loans:
YTD gross charge-offs	$	4,068	$	21,603	$	18,912	$	8,552	$	3,799	$	4,717	$	61,651

The following table presents the amortized cost in auto loans held for investment based on their most recent FICO score as of December 31, 2023:


	Term Loans Amortized Cost Basis by Origination Year												Total
	2023		2022		2021		2020		2019		Prior
	(In thousands)
Auto loans:
FICO score:
1-660	$	170,639	$	190,743	$	118,821	$	57,087	$	41,124	$	38,570	$	616,984
661-699	169,430		110,260		58,166		25,886		18,253		16,137		398,132
700+	474,005		323,514		183,286		103,886		88,929		58,779		1,232,399
No FICO	6,203		6,537		4,592		2,200		3,886		1,597		25,015
Total auto loans	$	820,277	$	631,054	$	364,865	$	189,059	$	152,192	$	115,083	$	2,272,530
Auto loans:
YTD gross charge-offs	$	4,090	$	18,142	$	10,894	$	4,008	$	3,380	$	3,250	$	43,764

As of December 31, 2024 and 2023, accrued interest receivable on loans totaled $60.9 million and $63.5 million, respectively, and is included in the accrued interest receivable line in OFG’s consolidated statements of financial condition. Refer to Note 11 – Accrued Interest Receivable and Other Assets for more information on accrued interest receivable on loans.