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BORROWINGS AND RELATED INTEREST (Tables)
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Federal Home Loan Bank Advances
The following table shows a summary of the advances and their terms, excluding accrued interest in the amount of $642 thousand and $952 thousand at March 31, 2025 and December 31, 2024, respectively:
March 31,December 31,
20252024
(In thousands)
Short-term fixed-rate advances from FHLB, with a weighted average interest rate of 4.56%
$— $270,000 
Long-term fixed-rate advance from FHLB, with a weighted average interest rate of 4.06% (December 31, 2024 - 3.79%)
255,000 55,000 
$255,000 $325,000 
Advances from FHLB mature as follows:
March 31,December 31,
20252024
(In thousands)
Over 90 days to one year$—$270,000 
Over one to three years255,000 55,000 
$255,000 $325,000 
Schedule of Repurchase Agreements
The following table shows OFG’s repurchase agreements, excluding accrued interest in the amount of $222 thousand at December 31, 2024:
December 31,
2024
(In thousands)
Short-term fixed-rate advances from FHLB, with a weighted average interest rate of 4.63%
$75,000 
Repurchase agreements’ maturities at December 31, 2024 were as follows:
December 31,
2024
(In thousands)
Under 90 days$75,000 
The following securities were sold under agreements to repurchase at December 31, 2024:
December 31, 2024
Underlying SecuritiesAmortized Cost of Underlying SecuritiesBalance of BorrowingApproximate Fair Value of Underlying SecuritiesWeighted Average Interest Rate of Security
(In thousands)
FNMA and FHLMC Certificates$81,409 $75,000 $80,968 5.25 %