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v3.25.1

ALLOWANCE FOR CREDIT LOSSES (Tables) | 3 Months Ended
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Mar. 31, 2025
Credit Loss [Abstract] |
Schedule of Gross Loan and Allowance for Credit Losses | The following tables present the activity in OFG’s ACL by segment for the quarters ended March 31, 2025 and 2024:
| Quarter Ended March 31, 2025
| Commercial |  | Mortgage |  | Consumer |  | Auto |  | Total
| (In thousands)
Non-PCD: |  |  |  |  |  |  |  |  |
Balance at beginning of period | $ | 44,814 |  |  | $ | 6,395 |  |  | $ | 31,818 |  |  | $ | 87,682 |  |  | $ | 170,709 |
Provision for (recapture of) credit losses | 3,516 |  |  | (636) |  |  | 7,945 |  |  | 13,978 |  |  | 24,803 |
Charge-offs | (3,030) |  |  | (23) |  |  | (8,252) |  |  | (18,192) |  |  | (29,497) |
Recoveries | 152 |  |  | 186 |  |  | 725 |  |  | 7,674 |  |  | 8,737 |
Balance at end of period | $ | 45,452 |  |  | $ | 5,922 |  |  | $ | 32,236 |  |  | $ | 91,142 |  |  | $ | 174,752 |
PCD: |  |  |  |  |  |  |  |  |
Balance at beginning of period | $ | 622 |  |  | $ | 4,514 |  |  | $ | 11 |  |  | $ | 7 |  |  | $ | 5,154 |
Provision for (recapture of) credit losses | 1,691 |  |  | (787) |  |  | (6) |  |  | (20) |  |  | 878 |
Charge-offs | — |  |  | — |  |  | — |  |  | (1) |  |  | (1) |
Recoveries | 25 |  |  | 341 |  |  | 6 |  |  | 19 |  |  | 391 |
Balance at end of period | $ | 2,338 |  |  | $ | 4,068 |  |  | $ | 11 |  |  | $ | 5 |  |  | $ | 6,422 |
Total allowance for credit losses at end of period | $ | 47,790 |  |  | $ | 9,990 |  |  | $ | 32,247 |  |  | $ | 91,147 |  |  | $ | 181,174 |
| Quarter Ended March 31, 2024
| Commercial |  | Mortgage |  | Consumer |  | Auto |  | Total
| (In thousands)
Non-PCD: |  |  |  |  |  |  |  |  |
Balance at beginning of period | $ | 44,041 |  |  | $ | 7,998 |  |  | $ | 27,086 |  |  | $ | 73,485 |  |  | $ | 152,610 |
Provision for (recapture of) credit losses | (1,406) |  |  | (574) |  |  | 7,655 |  |  | 11,078 |  |  | 16,753 |
Charge-offs | (5,316) |  |  | (64) |  |  | (7,981) |  |  | (14,218) |  |  | (27,579) |
Recoveries | 52 |  |  | 267 |  |  | 693 |  |  | 5,971 |  |  | 6,983 |
Balance at end of period | $ | 37,371 |  |  | $ | 7,627 |  |  | $ | 27,453 |  |  | $ | 76,316 |  |  | $ | 148,767 |
PCD: |  |  |  |  |  |  |  |  |
Balance at beginning of period | $ | 1,113 |  |  | $ | 7,351 |  |  | $ | 7 |  |  | $ | 25 |  |  | $ | 8,496 |
Recapture of credit losses | (137) |  |  | (1,268) |  |  | (23) |  |  | (56) |  |  | (1,484) |
Charge-offs | — |  |  | (83) |  |  | — |  |  | (9) |  |  | (92) |
Recoveries | 157 |  |  | 638 |  |  | 23 |  |  | 58 |  |  | 876 |
Balance at end of period | $ | 1,133 |  |  | $ | 6,638 |  |  | $ | 7 |  |  | $ | 18 |  |  | $ | 7,796 |
Total allowance for credit losses at end of period | $ | 38,504 |  |  | $ | 14,265 |  |  | $ | 27,460 |  |  | $ | 76,334 |  |  | $ | 156,563 |

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- Definition Tabular disclosure of allowance for credit loss on financing receivable. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11B -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-11B Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13 + Details
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