ALLOWANCE FOR CREDIT LOSSES (Tables)

3 Months Ended

Mar. 31, 2025

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