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BORROWINGS AND RELATED INTEREST (Tables) | 6 Months Ended
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Jun. 30, 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 $1.5 million and $952 thousand at June 30, 2025 and December 31, 2024, respectively:
| June 30, |  | December 31,
| 2025 |  | 2024
| (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 4.09% (December 31, 2024 - 3.79%) | 455,000 |  |  | 55,000 |
| $ | 455,000 |  |  | $ | 325,000 |
Advances from FHLB mature as follows:
| June 30, |  | December 31,
| 2025 |  | 2024
| (In thousands)
Over 90 days to one year | $ | — |  | $ | 270,000 |
Over one to three years | 455,000 |  |  | 55,000 |
| $ | 455,000 |  |  | $ | 325,000 |
Schedule of Repurchase Agreements | The following table shows OFG’s repurchase agreements, excluding accrued interest in the amount of $119 thousand and $222 thousand at June 30, 2025 and December 31, 2024:
| June 30, |  | December 31,
| 2025 |  | 2024
| (In thousands)
Short-term fixed-rate repurchase agreements, with a weighted average interest rate of 4.50% (December 31, 2024 - 4.63%) | $ | 27,344 |  |  | $ | 75,000 |
Repurchase agreements’ maturities at June 30, 2025 and December 31, 2024 were as follows:
| June 30, |  | December 31,
| 2025 |  | 2024
| (In thousands)
Under 90 days | $ | 27,344 |  |  | $ | 75,000 |
The following securities were sold under agreements to repurchase at June 30, 2025 and December 31, 2024:
|  | June 30, 2025
Underlying Securities |  | Amortized Cost of Underlying Securities |  | Balance of Borrowing |  | Approximate Fair Value of Underlying Securities |  | Weighted Average Interest Rate of Security
|  | (In thousands) |  |
FNMA and FHLMC Certificates |  | $ | 28,726 |  |  | $ | 27,344 |  |  | $ | 28,946 |  |  | 5.50 | %
|  | December 31, 2024
Underlying Securities |  | Amortized Cost of Underlying Securities |  | Balance of Borrowing |  | Approximate Fair Value of Underlying Securities |  | Weighted Average Interest Rate of Security
|  | (In thousands) |  |
FNMA and FHLMC Certificates |  | $ | 81,409 |  |  | $ | 75,000 |  |  | $ | 80,968 |  |  | 5.25 | %

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- Definition Tabular disclosure of advance from Federal Home Loan Bank (FHLBank). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(13)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 470 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478878/942-470-45-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3 + Details
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- Definition The entire disclosure for repurchase agreements. + References No definition available. + Details
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