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OFG BANCORP (HOLDING COMPANY ONLY) FINANCIAL INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract]  
Condensed Statements Of Financial Position Information
The following condensed financial information presents the financial position of the holding company only as of December 31, 2024 and 2023, and the results of its operations and its cash flows for 2024, 2023 and 2022:
December 31,
20242023
(In thousands)
ASSETS
Cash and cash equivalents$40,570 $73,121 
Investment in bank subsidiary, equity method1,188,830 1,094,581 
Investment in nonbank subsidiaries, equity method38,879 40,145 
Deferred tax asset, net231 293 
Due from bank subsidiary, net57 56 
Other assets504 371 
Total assets$1,269,071 $1,208,567 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Dividends payable11,640 10,355 
Accrued expenses and other liabilities3,051 4,729 
Due to non-bank subsidiary, net9 3 
Total liabilities14,700 15,087 
Stockholders’ equity1,254,371 1,193,480 
Total liabilities and stockholders’ equity$1,269,071 $1,208,567 
Condensed Statement Of Operations Information
Year Ended December 31,
202420232022
(In thousands)
Income:
Interest income$3,667 $3,712 $977 
Investment trading activities, net and other9,586 7,040 6,022 
Total income13,253 10,752 6,999 
Expenses:
Interest expense— — 521 
Operating expenses9,562 8,230 7,992 
Total expenses9,562 8,230 8,513 
Income (loss) before income taxes3,691 2,522 (1,514)
Income tax expense3,881 3,846 2,782 
Loss before earnings of subsidiaries(190)(1,324)(4,296)
Equity in earnings from:
Bank subsidiary185,699 170,658 162,236 
Nonbank subsidiaries12,661 12,538 8,299 
Net income$198,170 $181,872 $166,239 
Condensed Statement Of Comprehensive Income Information
Year Ended December 31,
202420232022
(In thousands)
Net income$198,170 $181,872 $166,239 
Other comprehensive (loss) income before tax:
Other comprehensive (loss) income from bank subsidiary(22,826)26,396 (98,569)
Other comprehensive (loss) income before taxes(22,826)26,396 (98,569)
Income tax effect— — — 
Other comprehensive (loss) income after taxes(22,826)26,396 (98,569)
Comprehensive income$175,344 $208,268 $67,670 
Condensed Statement Of Cash Flows Information
Year Ended December 31,
202420232022
(In thousands)
Cash flows from operating activities:
Net income$198,170 $181,872 $166,239 
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in earnings from banking subsidiary(185,699)(170,658)(162,236)
Equity in earnings from nonbanking subsidiaries(12,661)(12,538)(8,299)
Net decrease in due to non-bank subsidiary, net5 3 — 
Gain on early extinguishment of debt— — (42)
Stock-based compensation642 731 652 
Deferred income tax, net62 630 1,703 
Net decrease in other assets5,413 1,270 18,829 
Net (decrease) increase in accrued expenses and other liabilities(1,836)2,149 (488)
Dividends from banking subsidiary75,000 45,000 140,000 
Dividends and earnings and profits from non-banking subsidiaries
12,700 4,000 9,500 
Net cash provided by operating activities91,796 52,459 165,858 
Cash flows from investing activities:
Capital contribution to non-banking subsidiary(4,000)— — 
Additions to premises and equipment(9)(30)(233)
Net cash used in investing activities(4,009)(30)(233)
Cash flows from financing activities:
Subordinated capital notes— — (34,958)
Exercise of stock options and restricted units lapsed, net(4,368)(1,689)(906)
Purchase of treasury stock(70,324)(18,653)(64,110)
Dividends paid(45,646)(41,011)(30,090)
Net cash used in financing activities(120,338)(61,353)(130,064)
Net change in cash and cash equivalents(32,551)(8,924)35,561 
Cash and cash equivalents at beginning of year73,121 82,045 46,484 
Cash and cash equivalents at end of year$40,570 $73,121 $82,045