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OPERATING LEASES | 9 Months Ended
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Sep. 30, 2025
Lessee Disclosure [Abstract] |
OPERATING LEASES | OPERATING LEASES Substantially all leases in which OFG is the lessee are comprised of real estate property for branches, ATM locations, and office space with terms extending through 2038. OFG’s leases do not contain residual value guarantees or material variable lease payments. All leases are classified as operating leases and are included on the consolidated statements of financial condition as a right-of-use asset and a corresponding lease liability. OFG leases to others certain space in its principal offices for terms extending through 2026 with two additional extension through to 2030; all are operating leases. Operating Lease Cost
| Quarters Ended September 30, |  | Nine-Month Periods Ended September 30, |  | Statement of Operations
| 2025 |  | 2024 |  | 2025 |  | 2024 |  |  |  | Classification
| (In thousands) |  |  |  |
Lease costs | $ | 2,284 |  |  | $ | 2,324 |  |  | $ | 6,746 |  |  | $ | 7,238 |  |  |  |  | Occupancy and equipment
Variable lease costs | 381 |  |  | 465 |  |  | 1,185 |  |  | 1,246 |  |  |  |  | Occupancy and equipment
Short-term lease costs | 104 |  |  | 123 |  |  | 371 |  |  | 264 |  |  |  |  | Occupancy and equipment
Lease income | (13) |  |  | (13) |  |  | (38) |  |  | (64) |  |  |  |  | Occupancy and equipment
Total lease costs | $ | 2,756 |  |  | $ | 2,899 |  |  | $ | 8,264 |  |  | $ | 8,684 |  |  |  |  |
Operating Lease Assets and Liabilities
| September 30, |  | December 31, |  | Statement of Financial Condition
| 2025 |  | 2024 |  | Classification
| (In thousands) |  |
Right-of-use assets | $ | 22,694 |  |  | $ | 19,197 |  |  | Operating lease right-of-use assets
Lease Liabilities | $ | 24,681 |  |  | $ | 21,388 |  |  | Operating leases liabilities
| September 30, |  | December 31,
| 2025 |  | 2024
| (In thousands)
Weighted-average remaining lease term | 4.6 years |  | 4.8 years
Weighted-average discount rate | 7.4 | % |  | 7.6 | %
Future minimum payments for operating leases with initial or remaining terms of one year or more as of September 30, 2025, were as follows:
| Minimum Rent
As of September 30, 2025 | (In thousands)
2025 | $ | 2,115 |
2026 | 7,539 |
2027 | 6,467 |
2028 | 5,117 |
2029 | 3,527 |
Thereafter | 4,373 |
Total lease payments | $ | 29,138 |
Less imputed interest | 4,457 |
Present value of lease liabilities | $ | 24,681 |
OFG, as lessor, leases or subleases real property to tenants under operating leases. As of September 30, 2025, no material lease concessions have been granted to tenants. As of September 30, 2025, OFG, as lessee, has not requested any lease concessions.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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