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LOANS | 9 Months Ended
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Sep. 30, 2025
Receivables [Abstract] |
LOANS | LOANS OFG’s loan portfolio is composed of four segments: commercial, mortgage, consumer, and auto loans. Loans are further segregated into classes which OFG uses when assessing and monitoring the risk and performance of the portfolio. The composition of the amortized cost basis of OFG’s loan portfolio at September 30, 2025 and December 31, 2024, segregated between non-purchased credit deteriorated loans (“non-PCD”) and purchased credit deteriorated (“PCD”) loans, was as follows:
| September 30, 2025 |  | December 31, 2024
| Non-PCD |  | PCD |  | Total |  | Non-PCD |  | PCD |  | Total
| (In thousands)
Commercial PR: |  |  |  |  |  |  |  |  |  |  |
Commercial secured by real estate | $ | 1,263,842 |  |  | $ | 73,615 |  |  | $ | 1,337,457 |  |  | $ | 1,222,395 |  |  | $ | 77,196 |  |  | $ | 1,299,591 |
Other commercial and industrial | 1,206,083 |  |  | 9,133 |  |  | 1,215,216 |  |  | 1,087,886 |  |  | 11,533 |  |  | 1,099,419 |
| 2,469,925 |  |  | 82,748 |  |  | 2,552,673 |  |  | 2,310,281 |  |  | 88,729 |  |  | 2,399,010 |
Commercial US | 831,731 |  |  | — |  |  | 831,731 |  |  | 704,081 |  |  | — |  |  | 704,081 |
Total commercial loans | 3,301,656 |  |  | 82,748 |  |  | 3,384,404 |  |  | 3,014,362 |  |  | 88,729 |  |  | 3,103,091 |
Mortgage loans | 627,048 |  |  | 772,808 |  |  | 1,399,856 |  |  | 628,853 |  |  | 841,964 |  |  | 1,470,817 |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |
Personal loans | 641,051 |  |  | — |  |  | 641,051 |  |  | 620,430 |  |  | 245 |  |  | 620,675 |
Credit lines | 9,333 |  |  | 337 |  |  | 9,670 |  |  | 10,126 |  |  | 353 |  |  | 10,479 |
Credit cards | 34,843 |  |  | — |  |  | 34,843 |  |  | 36,956 |  |  | — |  |  | 36,956 |
Overdraft | 513 |  |  | — |  |  | 513 |  |  | 451 |  |  | — |  |  | 451 |
| 685,740 |  |  | 337 |  |  | 686,077 |  |  | 667,963 |  |  | 598 |  |  | 668,561 |
Auto loans | 2,646,811 |  |  | 119 |  |  | 2,646,930 |  |  | 2,549,033 |  |  | 460 |  |  | 2,549,493 |
| 7,261,255 |  |  | 856,012 |  |  | 8,117,267 |  |  | 6,860,211 |  |  | 931,751 |  |  | 7,791,962 |
Allowance for credit losses | (189,701) |  |  | (8,081) |  |  | (197,782) |  |  | (170,709) |  |  | (5,154) |  |  | (175,863) |
Total loans held for investment, net | 7,071,554 |  |  | 847,931 |  |  | 7,919,485 |  |  | 6,689,502 |  |  | 926,597 |  |  | 7,616,099 |
Mortgage loans held-for-sale | 9,680 |  |  | — |  |  | 9,680 |  |  | 13,286 |  |  | — |  |  | 13,286 |
Other loans held-for-sale | 6,248 |  |  | — |  |  | 6,248 |  |  | 4,446 |  |  | — |  |  | 4,446 |
Total loans held-for-sale | 15,928 |  |  | — |  |  | 15,928 |  |  | 17,732 |  |  | — |  |  | 17,732 |
Total loans, net | $ | 7,087,482 |  |  | $ | 847,931 |  |  | $ | 7,935,413 |  |  | $ | 6,707,234 |  |  | $ | 926,597 |  |  | $ | 7,633,831 |
During the nine-month period ended September 30, 2024, OFG sold $56.3 million of commercial loans held-for-sale and recognized a $454 thousand gain, included in other non-interest income in the consolidated statements of operations. During the nine-month period ended September 30, 2025, there were no sales of commercial loans held-for-sale. At September 30, 2025 and December 31, 2024, OFG had $6.2 million and $4.4 million, respectively, in commercial loans held-for-sale. At September 30, 2025 and December 31, 2024, OFG had carrying balances of $77.2 million and $66.4 million, respectively, in loans held-for-investment granted to the Puerto Rico government or its instrumentalities as part of the commercial loan segment. The Bank’s loans to the Puerto Rico government are general obligations of municipalities secured by ad valorem taxation, without limitation as to rate or amount, on all taxable property within the issuing municipalities and are in current status. The good faith, credit and unlimited taxing power of each issuing municipality are pledged for the payment of its general obligations. The tables below present the aging of the amortized cost of loans held for investment at September 30, 2025 and December 31, 2024, by class of loans. Mortgage loans past due include $46.7 million and $48.6 million of delinquent loans in the GNMA buy-back option program at September 30, 2025 and December 31, 2024, respectively. Servicers of loans underlying GNMA mortgage-backed securities must report as their own assets the defaulted loans that they have the option (but not the obligation) to repurchase, even when they elect not to exercise that option.
| September 30, 2025
| 30-59 Days Past Due |  | 60-89 Days Past Due |  | 90+ Days Past Due |  | Total Past Due |  | Current |  | Total Loans |  | Loans 90+ Days Past Due and Still Accruing
| (In thousands)
Commercial PR: |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial secured by real estate | $ | 1,088 |  |  | $ | 65 |  |  | $ | 7,560 |  |  | $ | 8,713 |  |  | $ | 1,255,129 |  |  | $ | 1,263,842 |  |  | $ | — |
Other commercial and industrial | 1,585 |  |  | 876 |  |  | 3,609 |  |  | 6,070 |  |  | 1,200,013 |  |  | 1,206,083 |  |  | — |
| 2,673 |  |  | 941 |  |  | 11,169 |  |  | 14,783 |  |  | 2,455,142 |  |  | 2,469,925 |  |  | — |
Commercial US | — |  |  | 5,809 |  |  | — |  |  | 5,809 |  |  | 825,922 |  |  | 831,731 |  |  | — |
Total commercial loans | 2,673 |  |  | 6,750 |  |  | 11,169 |  |  | 20,592 |  |  | 3,281,064 |  |  | 3,301,656 |  |  | — |
Mortgage loans | 5,261 |  |  | 6,213 |  |  | 57,899 |  |  | 69,373 |  |  | 557,675 |  |  | 627,048 |  |  | 2,187 |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |  |  |
Personal loans | 8,778 |  |  | 5,020 |  |  | 3,321 |  |  | 17,119 |  |  | 623,932 |  |  | 641,051 |  |  | — |
Credit lines | 95 |  |  | 70 |  |  | 45 |  |  | 210 |  |  | 9,123 |  |  | 9,333 |  |  | — |
Credit cards | 643 |  |  | 320 |  |  | 576 |  |  | 1,539 |  |  | 33,304 |  |  | 34,843 |  |  | — |
Overdraft | 74 |  |  | — |  |  | — |  |  | 74 |  |  | 439 |  |  | 513 |  |  | — |
| 9,590 |  |  | 5,410 |  |  | 3,942 |  |  | 18,942 |  |  | 666,798 |  |  | 685,740 |  |  | — |
Auto loans | 125,255 |  |  | 44,820 |  |  | 15,889 |  |  | 185,964 |  |  | 2,460,847 |  |  | 2,646,811 |  |  | — |
Total loans | $ | 142,779 |  |  | $ | 63,193 |  |  | $ | 88,899 |  |  | $ | 294,871 |  |  | $ | 6,966,384 |  |  | $ | 7,261,255 |  |  | $ | 2,187 |
| December 31, 2024
| 30-59 Day Past Due |  | 60-89 Days Past Due |  | 90+ Days Past Due |  | Total Past Due |  | Current |  | Total Loans |  | Loans 90+ Days Past Due and Still Accruing
| (In thousands)
Commercial PR: |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial secured by real estate | $ | 879 |  |  | $ | 215 |  |  | $ | 9,780 |  |  | $ | 10,874 |  |  | $ | 1,211,521 |  |  | $ | 1,222,395 |  |  | $ | — |
Other commercial and industrial | 597 |  |  | 629 |  |  | 3,588 |  |  | 4,814 |  |  | 1,083,072 |  |  | 1,087,886 |  |  | — |
| 1,476 |  |  | 844 |  |  | 13,368 |  |  | 15,688 |  |  | 2,294,593 |  |  | 2,310,281 |  |  | — |
Commercial US | — |  |  | 4,505 |  |  | — |  |  | 4,505 |  |  | 699,576 |  |  | 704,081 |  |  | — |
Total commercial loans | 1,476 |  |  | 5,349 |  |  | 13,368 |  |  | 20,193 |  |  | 2,994,169 |  |  | 3,014,362 |  |  | — |
Mortgage loans | 5,362 |  |  | 6,069 |  |  | 59,995 |  |  | 71,426 |  |  | 557,427 |  |  | 628,853 |  |  | 2,047 |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |  |  |
Personal loans | 8,522 |  |  | 4,655 |  |  | 3,494 |  |  | 16,671 |  |  | 603,759 |  |  | 620,430 |  |  | — |
Credit lines | 53 |  |  | 38 |  |  | 125 |  |  | 216 |  |  | 9,910 |  |  | 10,126 |  |  | — |
Credit cards | 670 |  |  | 255 |  |  | 571 |  |  | 1,496 |  |  | 35,460 |  |  | 36,956 |  |  | — |
Overdraft | 88 |  |  | — |  |  | — |  |  | 88 |  |  | 363 |  |  | 451 |  |  | — |
| 9,333 |  |  | 4,948 |  |  | 4,190 |  |  | 18,471 |  |  | 649,492 |  |  | 667,963 |  |  | — |
Auto loans | 119,805 |  |  | 50,208 |  |  | 20,055 |  |  | 190,068 |  |  | 2,358,965 |  |  | 2,549,033 |  |  | — |
Total loans | $ | 135,976 |  |  | $ | 66,574 |  |  | $ | 97,608 |  |  | $ | 300,158 |  |  | $ | 6,560,053 |  |  | $ | 6,860,211 |  |  | $ | 2,047 |
There were no past due loans held-for-sale as of September 30, 2025 and December 31, 2024. Upon adoption of the current expected credit losses (“CECL”) methodology, OFG elected to maintain pools of loans that were previously accounted for under ASC 310-30 and will continue to account for these pools as a unit of account. As such, PCD loans are not included in the preceding two tables. Non-accrual Loans The following table presents the amortized cost basis of loans held for investment on non-accrual status as of September 30, 2025 and December 31, 2024:
| September 30, 2025 |  | December 31, 2024 |  |
| Non-accrual with Allowance for Credit Loss |  | Non-accrual with no Allowance for Credit Loss |  | Total |  | Non-accrual with Allowance for Credit Loss |  | Non-accrual with no Allowance for Credit Loss |  | Total |  |
| (In thousands) |  |
Non-PCD: |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial PR: |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial secured by real estate | $ | 3,879 |  |  | $ | 4,975 |  |  | $ | 8,854 |  |  | $ | 4,610 |  |  | $ | 6,248 |  |  | $ | 10,858 |  |  |
Other commercial and industrial | 3,398 |  |  | 2,820 |  |  | 6,218 |  |  | 1,855 |  |  | 1,996 |  |  | 3,851 |  |  |
| 7,277 |  |  | 7,795 |  |  | 15,072 |  |  | 6,465 |  |  | 8,244 |  |  | 14,709 |  |  |
Commercial US | 38,356 |  |  | — |  |  | 38,356 |  |  | 21,317 |  |  | 2,887 |  |  | 24,204 |  |  |
Total commercial loans | 45,633 |  |  | 7,795 |  |  | 53,428 |  |  | 27,782 |  |  | 11,131 |  |  | 38,913 |  |  |
Mortgage loans | 9,753 |  |  | 2,280 |  |  | 12,033 |  |  | 8,770 |  |  | 3,153 |  |  | 11,923 |  |  |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |  |  |
Personal loans | 3,560 |  |  | 13 |  |  | 3,573 |  |  | 3,468 |  |  | 44 |  |  | 3,512 |  |  |
Credit lines | 45 |  |  | — |  |  | 45 |  |  | 125 |  |  | — |  |  | 125 |  |  |
Credit cards | 576 |  |  | — |  |  | 576 |  |  | 570 |  |  | — |  |  | 570 |  |  |
| 4,181 |  |  | 13 |  |  | 4,194 |  |  | 4,163 |  |  | 44 |  |  | 4,207 |  |  |
Auto loans | 15,961 |  |  | 1 |  |  | 15,962 |  |  | 20,049 |  |  | 6 |  |  | 20,055 |  |  |
Total | $ | 75,528 |  |  | $ | 10,089 |  |  | $ | 85,617 |  |  | $ | 60,764 |  |  | $ | 14,334 |  |  | $ | 75,098 |  |  |
PCD: |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial PR: |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial secured by real estate | $ | 5,972 |  |  | $ | 1,831 |  |  | $ | 7,803 |  |  | $ | — |  |  | $ | 1,946 |  |  | $ | 1,946 |  |  |
Other commercial and industrial | — |  |  | — |  |  | — |  |  | 695 |  |  | — |  |  | 695 |  |  |
Total commercial loans | 5,972 |  |  | 1,831 |  |  | 7,803 |  |  | 695 |  |  | 1,946 |  |  | 2,641 |  |  |
Mortgage loans | 230 |  |  | — |  |  | 230 |  |  | 239 |  |  | — |  |  | 239 |  |  |
Total | $ | 6,202 |  |  | $ | 1,831 |  |  | $ | 8,033 |  |  | $ | 934 |  |  | $ | 1,946 |  |  | $ | 2,880 |  |  |
Total non-accrual loans | $ | 81,730 |  |  | $ | 11,920 |  |  | $ | 93,650 |  |  | $ | 61,698 |  |  | $ | 16,280 |  |  | $ | 77,978 |  |  |
The determination of non-accrual or accrual status of PCD loans is made at the pool level, not the individual loan level. As of September 30, 2025, total commercial non-accrual loans exclude $2.0 million of non-accrual commercial loans held-for-sale. There were no commercial non-accrual loans held-for-sale at December 31, 2024. Delinquent residential mortgage loans insured or guaranteed under applicable Federal Housing Administration (“FHA”) and Veterans Administration (“VA”) programs are classified as non-performing loans when they become 90 days or more past due but are not placed in non-accrual status until they become 12 months or more past due, since they are insured loans. Therefore, those loans are included as non-performing loans but excluded from non-accrual loans. Modifications to Debtors Experiencing Financial Difficulty OFG’s loss mitigation program was designed to ensure that borrowers experiencing financial difficulties have the opportunity to continue paying their obligations. The loss mitigation alternatives are divided depending on the borrower’s hardship and its ability to continue with regular payment or with a new modified payment plan. The loss mitigation program provides alternatives for home retention or disposition options avoiding foreclosure proceedings and collateral retention. OFG offers various types of loan modifications to borrowers experiencing financial difficulty in the form of an interest rate reduction, an other-than-insignificant payment delay, a term extension, interest or principal forbearance or forgiveness, or any combination of these types of concessions. As of September 30, 2025 and September 30, 2024, the amortized cost of modified loans excludes $29 thousand and $33 thousand, respectively, of accrued interest receivable. Accrued interest receivable on loans is included in the “accrued interest receivable” line in OFG’s consolidated statements of financial condition. The amortized cost of modified loans during the nine-month periods ended September 30, 2025 and 2024, includes $796 thousand and $621 thousand, respectively, of government-guaranteed loans (e.g., FHA/VA). The following tables present the amortized cost basis as of September 30, 2025 and 2024, of loans held for investment that were modified during the quarters and nine-month periods ended September 30, 2025 and 2024, disaggregated by class of financing receivable and type of concession granted.
| Interest Rate Reduction
| Quarters Ended September 30, |  | Nine-Month Periods Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| $1 | %2 |  | $1 | %2 |  | $1 | %2 |  | $1 | %2
| (Dollars in thousands)
Commercial PR: |  |  |  |  |  |  |  |  |  |  |
Commercial secured by real estate | $ | — |  | — | % |  | $ | — |  | — | % |  | $ | 194 |  | 0.01 | % |  | $ | — |  | — | %
Other commercial and industrial | — |  | — | % |  | — |  | — | % |  | 78 |  | 0.01 | % |  | — |  | — | %
| — |  | — | % |  | — |  | — | % |  | 272 |  | 0.01 | % |  | — |  | — | %
Commercial US | — |  | — | % |  | 9,824 |  | 1.44 | % |  | — |  | — | % |  | 9,824 |  | 1.44 | %
Total commercial loans | — |  | — | % |  | 9,824 |  | 1.44 | % |  | 272 |  | 0.01 | % |  | 9,824 |  | 1.44 | %
Mortgage loans | — |  | — | % |  | — |  | — | % |  | — |  | — | % |  | — |  | — | %
Consumer: |  |  |  |  |  |  |  |  |  |  |
Personal loans | — |  | — | % |  | — |  | — | % |  | — |  | — | % |  | 26 |  | — | %
Auto loans | — |  | — | % |  | — |  | — | % |  | — |  | — | % |  | 31 |  | — | %
Total | $ | — |  |  |  | $ | 9,824 |  |  |  | $ | 272 |  |  |  | $ | 9,881 |  |
1 -Amortized cost basis.
2 - Percentage of total class of financing receivable.
| Term Extension
| Quarters Ended September 30, |  | Nine-Month Periods Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| $1 | %2 |  | $1 | %2 |  | $1 | %2 |  | $1 | %2
| (Dollars in thousands)
Commercial PR: |  |  |  |  |  |  |  |  |  |  |
Other commercial and industrial | $ | — |  | — | % |  | $ | — |  | — | % |  | $ | 697 |  | 0.06 | % |  | $ | — |  | — | %
Mortgage loans | 842 |  | 0.06 | % |  | 415 |  | 0.03 | % |  | 2,113 |  | 0.15 | % |  | 1,084 |  | 0.07 | %
Consumer: |  |  |  |  |  |  |  |  |  |  |
Personal loans | — |  | — | % |  | — |  | — | % |  | — |  | — | % |  | 7 |  | — | %
Auto loans | 52 |  | — | % |  | — |  | — | % |  | 144 |  | 0.01 | % |  | — |  | — | %
Total | $ | 894 |  |  |  | $ | 415 |  |  |  | $ | 2,954 |  |  |  | $ | 1,091 |  |
1 -Amortized cost basis.
2 - Percentage of total class of financing receivable.
| Principal Forbearance/Forgiveness
| Quarters Ended September 30, |  | Nine-Month Periods Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| $1 | %2 |  | $1 | %2 |  | $1 | %2 |  | $1 | %2
| (Dollars in thousands)
Commercial US | $ | — |  | — | % |  | $ | — |  | — | % |  | $ | 9,821 |  | 1.18 | % |  | $ | — |  | — | %
1 -Amortized cost basis.
2 - Percentage of total class of financing receivable.
| Combination of Term Extension and Interest Rate Reduction
| Quarters Ended September 30, |  | Nine-Month Periods Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| $1 | %2 |  | $1 | %2 |  | $1 | %2 |  | $1 | %2
| (Dollars in thousands)
Commercial PR: |  |  |  |  |  |  |  |  |  |  |
Commercial secured by real estate | $ | — |  | — | % |  | $ | — |  | — | % |  | $ | 454 |  | 0.03 | % |  | $ | — |  | — | %
Other commercial and industrial | 1,177 |  | 0.10 | % |  | — |  | — | % |  | 1,177 |  | 0.10 | % |  | — |  | — | %
| 1,177 |  | 0.05 | % |  | — |  | — | % |  | 1,631 |  | 0.06 | % |  | — |  | — | %
Mortgage loans | 84 |  | 0.01 | % |  | — |  | — | % |  | 127 |  | 0.01 | % |  | 89 |  | 0.01 | %
Consumer: |  |  |  |  |  |  |  |  |  |  |
Personal loans | 95 |  | 0.01 | % |  | — |  | — | % |  | 95 |  | 0.01 | % |  | — |  | — | %
Auto loans | 80 |  | — | % |  | — |  | — | % |  | 133 |  | 0.01 | % |  | — |  | — | %
Total | $ | 1,436 |  |  |  | $ | — |  |  |  | $ | 1,986 |  |  |  | $ | 89 |  |
1 -Amortized cost basis.
2 - Percentage of total class of financing receivable.
| Combination of Term Extension and Principal Forgiveness/Forbearance
| Quarters Ended September 30, |  | Nine-Month Periods Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| $1 | %2 |  | $1 | %2 |  | $1 | %2 |  | $1 | %2
| (Dollars in thousands)
Commercial US | $ | — |  | — | % |  | $ | — |  | — | % |  | $ | 3,258 |  | 0.39 | % |  | $ | — |  | — | %
Mortgage loans | — |  | — | % |  | 123 |  | 0.01 | % |  | 98 |  | — | % |  | 123 |  | 0.01 | %
Total | $ | — |  |  |  | $ | 123 |  |  |  | $ | 3,356 |  |  |  | $ | 123 |  |
1 -Amortized cost basis.
2 - Percentage of total class of financing receivable.
| Combination of Interest Rate Reduction and Principal Forgiveness/Forbearance
| Quarters Ended September 30, |  | Nine-Month Periods Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| $1 | %2 |  | $1 | %2 |  | $1 | %2 |  | $1 | %2
| (Dollars in thousands)
Mortgage loans | $ | 94 |  | 0.01 | % |  | $ | — |  | — | % |  | $ | 94 |  | 0.01 | % |  | $ | — |  | — | %
1 -Amortized cost basis.
2 - Percentage of total class of financing receivable.
| Combination of Interest Rate Reduction, Term Extension and Principal Forgiveness/Forbearance
| Quarters Ended September 30, |  | Nine-Month Periods Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| $1 | %2 |  | $1 | %2 |  | $1 | %2 |  | $1 | %2
| (Dollars in thousands)
Commercial US | $ | — |  | — | % |  | $ | — |  | — | % |  | $ | 7,125 |  | 0.86 | % |  | $ | — |  | — | %
Mortgage loans | — |  | — | % |  | — |  | — | % |  | 137 |  | 0.01 | % |  | — |  | — | %
Total | $ | — |  |  |  | $ | — |  |  |  | $ | 7,262 |  |  |  | $ | — |  |
1 -Amortized cost basis.
2 - Percentage of total class of financing receivable.
Our credit loss estimation methodology incorporates a lifetime approach, utilizing modeled loan performance based on the historical experience of loans with similar risk characteristics, adjusted for current conditions, and reasonable and supportable forecasts. The model considers extensive historical loss experience, including the impact of loss mitigation programs offered to borrowers facing financial difficulty and projected loss severity from loan defaults, and is applied consistently across all portfolio segments. Additionally, our ACL is recorded on each asset upon origination or acquisition and is based on historical loss information, including modifications made to borrowers facing financial difficulty, and expected behavior. Changes to the ACL are generally not recorded upon modification, as the effects of most modifications are already considered in the estimation methodology. Refer to Note 5 – Allowance for Credit Losses for additional information. The following tables present the financial effect of the modifications granted to borrowers experiencing financial difficulty during the quarters and nine-month periods ended September 30, 2025 and 2024. The financial effect of the combined modifications is presented separately by type of modification.
| Quarter Ended September 30, 2025
| Weighted-Average Interest Rate Reduction |  | Weighted-Average Term Extension (In months) |  | Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands)
Commercial PR: |  |  |  |  |
Other commercial and industrial | 1.99 | % |  | 29 |  | $ | — |
Mortgage loans | 1.21 | % |  | 158 |  | $ | 27 |
Consumer loans: |  |  |  |  |
Personal loans | 4.18 | % |  | 40 |  | $ | — |
Auto loans | 1.38 | % |  | 37 |  | $ | — |
| Nine-Month Period Ended September 30, 2025
| Weighted-Average Interest Rate Reduction |  | Weighted-Average Term Extension (In months) |  | Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands) |  |
Commercial PR: |  |  |  |  |  |  |
Commercial loans secured by real estate | 2.99 | % |  | 24 |  | $ | — |  |  |
Other commercial and industrial | 2.19 | % |  | 32 |  | $ | — |  |  |
Commercial US | 2.15 | % |  | 16 |  | $ | 5,309 |  |  |
Mortgage loans | 0.75 | % |  | 135 |  | $ | 33 |  |  |
Consumer loans: |  |  |  |  |  |  |
Personal loans | 4.18 | % |  | 40 |  | $ | — |  |  |
Auto loans | 2.01 | % |  | 35 |  | $ | — |  |  |
| Quarter Ended September 30, 2024
| Weighted-Average Interest Rate Reduction |  | Weighted-Average Term Extension (In months) |  | Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands)
Commercial US | 0.73 | % |  | 0 |  | $ | — |
Mortgage loans | — | % |  | 193 |  | $ | 10,993 |
| Nine-Month Period Ended September 30, 2024
| Weighted-Average Interest Rate Reduction |  | Weighted-Average Term Extension (In months) |  | Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands)
Commercial US | 0.73 | % |  | 0 |  | $ | — |
Mortgage loans | 0.38 | % |  | 185 |  | $ | 10,993 |
Consumer loans: |  |  |  |  |
Personal loans | 5.00 | % |  | 18 |  | $ | — |
Auto loans | 3.00 | % |  | 0 |  | $ | — |
The following tables present the amortized cost basis as of September 30, 2025 and 2024, of loans held for investment that had a payment default subsequent to being granted a modification to borrowers experiencing financial difficulty in the prior twelve months.
| Twelve-Month Period Ended September 30, 2025
| Amortized Cost Basis of Modified Financing Receivables that Subsequently Defaulted |  |
| Interest Rate Reduction |  | Term Extension |  | Principal Forgiveness/Forbearance |  | Combination - Term Extension and Interest Rate Reduction |  | Total |  |
| (In thousands) |  |
Mortgage loans | $ | — |  |  | $ | 158 |  |  | $ | — |  |  | $ | — |  |  | $ | 158 |  |  |
| Twelve-Month Period Ended September 30, 2024
| Amortized Cost Basis of Modified Financing Receivables that Subsequently Defaulted |  |
| Interest Rate Reduction |  | Term Extension |  | Principal Forgiveness/Forbearance |  | Combination - Term Extension and Interest Rate Reduction |  | Total |  |
| (In thousands) |  |
Mortgage loans | $ | — |  |  | $ | 107 |  |  | $ | — |  |  | $ | — |  |  | $ | 107 |  |  |
A payment default for a financial difficulty modification loan is defined as reaching 90 days past due with respect to principal and/or interest payments or when the borrower missed three consecutive monthly payments since modification. Payment defaults is one of the factors considered when projecting future cash flows in the calculation of the ACL of loans. OFG closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table presents the payment status of loans that have been modified in the twelve-month periods ended September 30, 2025 and 2024 that were granted to borrowers experiencing financial difficulty.
| September 30, 2025
| 30-59 Day Past Due |  | 60-89 Days Past Due |  | 90+ Days Past Due |  | Total Past Due |  | Current |  | Total
| (In thousands)
Commercial PR: |  |  |  |  |  |  |  |  |  |  |
Commercial loans secured by real estate | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 648 |  |  | $ | 648 |
Other commercial and industrial | — |  |  | — |  |  | — |  |  | — |  |  | 1,952 |  |  | 1,952 |
| — |  |  | — |  |  | — |  |  | — |  |  | 2,600 |  |  | 2,600 |
Commercial US | — |  |  | 5,809 |  |  | — |  |  | 5,809 |  |  | 20,203 |  |  | 26,012 |
Total commercial loans | — |  |  | 5,809 |  |  | — |  |  | 5,809 |  |  | 22,803 |  |  | 28,612 |
Mortgage loans | 958 |  |  | — |  |  | 158 |  |  | 1,116 |  |  | 2,065 |  |  | 3,181 |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |
Personal loans | — |  |  | — |  |  | — |  |  | — |  |  | 95 |  |  | 95 |
Credit lines | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Credit cards | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Overdraft | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
| — |  |  | — |  |  | — |  |  | — |  |  | 95 |  |  | 95 |
Auto loans | — |  |  | — |  |  | — |  |  | — |  |  | 347 |  |  | 347 |
Total | $ | 958 |  |  | $ | 5,809 |  |  | $ | 158 |  |  | $ | 6,925 |  |  | $ | 25,310 |  |  | $ | 32,235 |
| September 30, 2024
| 30-59 Day Past Due |  | 60-89 Days Past Due |  | 90+ Days Past Due |  | Total Past Due |  | Current |  | Total
| (In thousands)
Commercial PR: |  |  |  |  |  |  |  |  |  |  |
Commercial loans secured by real estate | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Other commercial and industrial | — |  |  | — |  |  | — |  |  | — |  |  | 598 |  |  | 598 |
Commercial US | — |  |  | — |  |  | — |  |  | — |  |  | 9,824 |  |  | 9,824 |
Total commercial loans | — |  |  | — |  |  | — |  |  | — |  |  | 10,422 |  |  | 10,422 |
Mortgage loans | — |  |  | 38 |  |  | 107 |  |  | 145 |  |  | 1,937 |  |  | 2,082 |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |
Personal loans | 26 |  |  | — |  |  | — |  |  | 26 |  |  | 7 |  |  | 33 |
Auto loans | — |  |  | — |  |  | — |  |  | — |  |  | 80 |  |  | 80 |
Total | $ | 26 |  |  | $ | 38 |  |  | $ | 107 |  |  | $ | 171 |  |  | $ | 12,446 |  |  | $ | 12,617 |
There were no outstanding commitments to lend additional funds to debtors experiencing financial difficulties at September 30, 2025 and December 31, 2024. As of September 30, 2025 and December 31, 2024, the recorded investment on residential mortgage loans collateralized by residential real estate property that were in the process of foreclosure amounted to $26.3 million and $25.0 million, respectively. OFG commences the foreclosure process on residential real estate loans when a borrower becomes 120 days delinquent. Puerto Rico and the USVI require the foreclosure to be processed through their respective courts. Foreclosure timelines vary according to local law and investor guidelines. Occasionally, foreclosures may be delayed due to, among other reasons, mandatory mediation, bankruptcy, court delays and property title issues. Collateral-dependent Loans The table below presents the amortized cost of commercial collateral-dependent loans held for investment at September 30, 2025 and December 31, 2024, by class of loans.
| September 30, |  | December 31,
| 2025 |  | 2024
| (In thousands)
Commercial PR: |  |  |
Commercial loans secured by real estate | $ | 6,327 |  |  | $ | 6,877 |
PCD loans, except for single-pooled loans, are not included in the table above as their unit of account is the loan pool. Credit Quality Indicators OFG categorizes its loans into loan grades based on relevant information about the ability of borrowers to service their debts, such as economic conditions, portfolio risk characteristics, prior loss experience, and the results of periodic credit reviews of individual loans. OFG uses the following definitions for loan grades: Pass: Loans classified as “pass” have a well-defined primary source of repayment very likely to be sufficient, with no apparent risk, strong financial position, minimal operating risk, profitability, liquidity and capitalization better than industry standards. Special Mention: Loans classified as “special mention” have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. Substandard: Loans classified as “substandard” are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful: Loans classified as “doubtful” have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, questionable and improbable. Loss: Loans classified as “loss” are considered uncollectible and of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the asset has absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off this worthless loan even though partial recovery may be effected in the future. Loans not meeting the criteria above that are analyzed individually as part of the process described above are considered to be pass loans. As of September 30, 2025, and based on the most recent analysis performed, the risk category of loans held for investment subject to risk rating by class of loans, and current year-to-date period gross charge-offs by year of origination is as follows:
|  | Term Loans Amortized Cost Basis by Origination Year |  | Revolving Loans Amortized Cost Basis |  | Total
|  | 2025 |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | Prior |  |
|  | (In thousands)
Commercial PR: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial secured by real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loan grade: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 235,552 |  |  | $ | 169,936 |  |  | $ | 200,253 |  |  | $ | 201,255 |  |  | $ | 153,801 |  |  | $ | 199,616 |  |  | $ | 45,116 |  |  | $ | 1,205,529 |
Special Mention |  | — |  |  | 263 |  |  | 13,348 |  |  | 3,632 |  |  | 20,964 |  |  | 4,269 |  |  | 2,323 |  |  | 44,799 |
Substandard |  | — |  |  | — |  |  | 103 |  |  | 1,155 |  |  | 2,247 |  |  | 9,058 |  |  | 951 |  |  | 13,514 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Loss |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total commercial secured by real estate |  | 235,552 |  |  | 170,199 |  |  | 213,704 |  |  | 206,042 |  |  | 177,012 |  |  | 212,943 |  |  | 48,390 |  |  | 1,263,842 |
Commercial secured by real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
YTD gross charge-offs |  | — |  |  | — |  |  | 13 |  |  | — |  |  | 34 |  |  | 2 |  |  | — |  |  | 49 |
Other commercial and industrial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loan grade: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 151,100 |  |  | 135,180 |  |  | 216,787 |  |  | 41,670 |  |  | 32,678 |  |  | 26,696 |  |  | 528,742 |  |  | 1,132,853 |
Special Mention |  | — |  |  | 141 |  |  | 1,339 |  |  | 5,872 |  |  | 798 |  |  | 88 |  |  | 10,721 |  |  | 18,959 |
Substandard |  | 638 |  |  | 52 |  |  | 2,083 |  |  | 915 |  |  | 45,091 |  |  | 1,521 |  |  | 3,971 |  |  | 54,271 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Loss |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total other commercial and industrial: |  | 151,738 |  |  | 135,373 |  |  | 220,209 |  |  | 48,457 |  |  | 78,567 |  |  | 28,305 |  |  | 543,434 |  |  | 1,206,083 |
Other commercial and industrial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
YTD gross charge-offs |  | 16 |  |  | 43 |  |  | 40 |  |  | 1,091 |  |  | 19 |  |  | 573 |  |  | — |  |  | 1,782 |
Commercial US: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loan grade: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 133,127 |  |  | 46,744 |  |  | 87,452 |  |  | 20,604 |  |  | 30,035 |  |  | 33,555 |  |  | 356,309 |  |  | 707,826 |
Special Mention |  | — |  |  | 2,475 |  |  | 9,654 |  |  | — |  |  | — |  |  | — |  |  | 43,223 |  |  | 55,352 |
Substandard |  | 6,520 |  |  | 8,721 |  |  | 15,607 |  |  | 15,631 |  |  | — |  |  | — |  |  | 20,551 |  |  | 67,030 |
Doubtful |  | — |  |  | 1,523 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,523 |
Loss |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total Commercial US: |  | 139,647 |  |  | 59,463 |  |  | 112,713 |  |  | 36,235 |  |  | 30,035 |  |  | 33,555 |  |  | 420,083 |  |  | 831,731 |
Commercial US: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
YTD gross charge-offs |  | — |  |  | — |  |  | — |  |  | 2,918 |  |  | 3,647 |  |  | — |  |  | — |  |  | 6,565 |
Total commercial loans |  | $ | 526,937 |  |  | $ | 365,035 |  |  | $ | 546,626 |  |  | $ | 290,734 |  |  | $ | 285,614 |  |  | $ | 274,803 |  |  | $ | 1,011,907 |  |  | $ | 3,301,656 |
Total YTD gross charge-offs |  | $ | 16 |  |  | $ | 43 |  |  | $ | 53 |  |  | $ | 4,009 |  |  | $ | 3,700 |  |  | $ | 575 |  |  | $ | — |  |  | $ | 8,396 |
As of December 31, 2024, and based on the most recent analysis performed, the risk category of loans held for investment subject to risk rating by class of loans is as follows:
|  | Term Loans Amortized Cost Basis by Origination Year |  | Revolving Loans Amortized Cost Basis |  | Total
|  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  |
|  | (In thousands)
Commercial PR: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial secured by real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loan grade: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 219,185 |  |  | $ | 204,144 |  |  | $ | 229,955 |  |  | $ | 190,891 |  |  | $ | 106,562 |  |  | $ | 180,600 |  |  | $ | 46,448 |  |  | $ | 1,177,785 |
Special Mention |  | — |  |  | 13,702 |  |  | 7,205 |  |  | 6,192 |  |  | 909 |  |  | 3,721 |  |  | 73 |  |  | 31,802 |
Substandard |  | — |  |  | — |  |  | 554 |  |  | 1,479 |  |  | 1,198 |  |  | 8,572 |  |  | 1,005 |  |  | 12,808 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Loss |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total commercial secured by real estate |  | 219,185 |  |  | 217,846 |  |  | 237,714 |  |  | 198,562 |  |  | 108,669 |  |  | 192,893 |  |  | 47,526 |  |  | 1,222,395 |
Commercial secured by real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
YTD gross charge-offs |  | — |  |  | 184 |  |  | — |  |  | — |  |  | — |  |  | 26 |  |  | — |  |  | 210 |
Other commercial and industrial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loan grade: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 146,372 |  |  | 269,680 |  |  | 48,516 |  |  | 49,751 |  |  | 23,858 |  |  | 13,508 |  |  | 477,838 |  |  | 1,029,523 |
Special Mention |  | — |  |  | 373 |  |  | 3,281 |  |  | 45,012 |  |  | — |  |  | 136 |  |  | 4,920 |  |  | 53,722 |
Substandard |  | 21 |  |  | 15 |  |  | 317 |  |  | 640 |  |  | 111 |  |  | 825 |  |  | 2,712 |  |  | 4,641 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Loss |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total other commercial and industrial: |  | 146,393 |  |  | 270,068 |  |  | 52,114 |  |  | 95,403 |  |  | 23,969 |  |  | 14,469 |  |  | 485,470 |  |  | 1,087,886 |
Other commercial and industrial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
YTD gross charge-offs |  | 117 |  |  | 143 |  |  | 298 |  |  | 3,573 |  |  | — |  |  | 238 |  |  | — |  |  | 4,369 |
Commercial US: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loan grade: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 56,534 |  |  | 120,064 |  |  | 21,648 |  |  | 57,736 |  |  | 20,138 |  |  | 21,884 |  |  | 273,971 |  |  | 571,975 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 39,896 |  |  | 39,896 |
Substandard |  | 16,094 |  |  | 16,422 |  |  | 26,536 |  |  | 4,689 |  |  | — |  |  | 5,647 |  |  | 21,204 |  |  | 90,592 |
Doubtful |  | 1,618 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,618 |
Loss |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total Commercial US: |  | 74,246 |  |  | 136,486 |  |  | 48,184 |  |  | 62,425 |  |  | 20,138 |  |  | 27,531 |  |  | 335,071 |  |  | 704,081 |
Commercial US: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
YTD gross charge-offs |  | — |  |  | — |  |  | 392 |  |  | 1,749 |  |  | — |  |  | 1,497 |  |  | — |  |  | 3,638 |
Total commercial loans |  | $ | 439,824 |  |  | $ | 624,400 |  |  | $ | 338,012 |  |  | $ | 356,390 |  |  | $ | 152,776 |  |  | $ | 234,893 |  |  | $ | 868,067 |  |  | $ | 3,014,362 |
Total YTD gross charge-offs |  | $ | 117 |  |  | $ | 327 |  |  | $ | 690 |  |  | $ | 5,322 |  |  | $ | — |  |  | $ | 1,761 |  |  | $ | — |  |  | $ | 8,217 |
At September 30, 2025 and December 31, 2024, the balance of revolving commercial loans converted to term loans was $164.0 million and $191.9 million, respectively. OFG considers the performance of the loan portfolio and its impact on the ACL. For mortgage and consumer loan classes, OFG also evaluates credit quality based on the aging status of the loan and payment activity. The following table presents the amortized cost in mortgage and consumer loans held for investment based on payment performance as of September 30, 2025:
|  | Term Loans Amortized Cost Basis by Origination Year |  | Revolving Loans Amortized Cost Basis |  | Total
|  | 2025 |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | Prior |  |
|  | (In thousands)
Mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | 41,528 |  |  | $ | 39,267 |  |  | $ | 17,642 |  |  | $ | 20,978 |  |  | $ | 27,937 |  |  | $ | 462,270 |  |  | $ | — |  |  | $ | 609,622 |
Nonperforming |  | 84 |  |  | 1,001 |  |  | 1,094 |  |  | 410 |  |  | 637 |  |  | 14,200 |  |  | — |  |  | 17,426 |
Total mortgage loans: |  | 41,612 |  |  | 40,268 |  |  | 18,736 |  |  | 21,388 |  |  | 28,574 |  |  | 476,470 |  |  | — |  |  | 627,048 |
Mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
YTD gross charge-offs |  | — |  |  | — |  |  | 23 |  |  | — |  |  | — |  |  | 11 |  |  | — |  |  | 34 |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Personal loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | 199,082 |  |  | 193,383 |  |  | 125,158 |  |  | 79,338 |  |  | 28,250 |  |  | 12,267 |  |  | — |  |  | 637,478 |
Nonperforming |  | 380 |  |  | 1,076 |  |  | 1,019 |  |  | 788 |  |  | 243 |  |  | 67 |  |  | — |  |  | 3,573 |
Total personal loans |  | 199,462 |  |  | 194,459 |  |  | 126,177 |  |  | 80,126 |  |  | 28,493 |  |  | 12,334 |  |  | — |  |  | 641,051 |
Personal loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
YTD gross charge-offs |  | 121 |  |  | 6,111 |  |  | 7,090 |  |  | 5,442 |  |  | 1,294 |  |  | 503 |  |  | — |  |  | 20,561 |
Credit lines: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 9,288 |  |  | 9,288 |
Nonperforming |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 45 |  |  | 45 |
Total credit lines |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 9,333 |  |  | 9,333 |
Credit lines: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
YTD gross charge-offs |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 186 |  |  | 186 |
Credit cards: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 34,267 |  |  | 34,267 |
Nonperforming |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 576 |  |  | 576 |
Total credit cards |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 34,843 |  |  | 34,843 |
Credit cards: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
YTD gross charge-offs |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,643 |  |  | 1,643 |
Overdrafts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 513 |  |  | 513 |
Nonperforming |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total overdrafts |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 513 |  |  | 513 |
Overdrafts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
YTD gross charge-offs |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 536 |  |  | 536 |
Total consumer loans |  | 199,462 |  |  | 194,459 |  |  | 126,177 |  |  | 80,126 |  |  | 28,493 |  |  | 12,334 |  |  | 44,689 |  |  | 685,740 |
Total consumer loans YTD gross charge-offs |  | 121 |  |  | 6,111 |  |  | 7,090 |  |  | 5,442 |  |  | 1,294 |  |  | 503 |  |  | 2,365 |  |  | 22,926 |
Total mortgage and consumer loans |  | $ | 241,074 |  |  | $ | 234,727 |  |  | $ | 144,913 |  |  | $ | 101,514 |  |  | $ | 57,067 |  |  | $ | 488,804 |  |  | $ | 44,689 |  |  | $ | 1,312,788 |
Total mortgage and consumer loans YTD gross charge-offs |  | $ | 121 |  |  | $ | 6,111 |  |  | $ | 7,113 |  |  | $ | 5,442 |  |  | $ | 1,294 |  |  | $ | 514 |  |  | $ | 2,365 |  |  | $ | 22,960 |
The following table presents the amortized cost in mortgage and consumer loans held for investment based on payment performance as of December 31, 2024:
|  | Term Loans Amortized Cost Basis by Origination Year |  | Revolving Loans Amortized Cost Basis |  | Total
|  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  |
|  | (In thousands)
Mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | 41,100 |  |  | $ | 18,986 |  |  | $ | 23,207 |  |  | $ | 28,034 |  |  | $ | 20,203 |  |  | $ | 480,388 |  |  | $ | — |  |  | $ | 611,918 |
Nonperforming |  | 148 |  |  | 636 |  |  | 107 |  |  | 466 |  |  | 102 |  |  | 15,476 |  |  | — |  |  | 16,935 |
Total mortgage loans: |  | 41,248 |  |  | 19,622 |  |  | 23,314 |  |  | 28,500 |  |  | 20,305 |  |  | 495,864 |  |  | — |  |  | 628,853 |
Mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
YTD gross charge-offs |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 126 |  |  | — |  |  | 126 |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Personal loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | 265,955 |  |  | 175,932 |  |  | 114,654 |  |  | 40,794 |  |  | 11,563 |  |  | 8,020 |  |  | — |  |  | 616,918 |
Nonperforming |  | 438 |  |  | 1,292 |  |  | 1,266 |  |  | 353 |  |  | 51 |  |  | 112 |  |  | — |  |  | 3,512 |
Total personal loans |  | 266,393 |  |  | 177,224 |  |  | 115,920 |  |  | 41,147 |  |  | 11,614 |  |  | 8,132 |  |  | — |  |  | 620,430 |
Personal loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
YTD gross charge-offs |  | 1,425 |  |  | 10,788 |  |  | 11,973 |  |  | 3,443 |  |  | 700 |  |  | 1,088 |  |  | — |  |  | 29,417 |
Credit lines: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 10,001 |  |  | 10,001 |
Nonperforming |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 125 |  |  | 125 |
Total credit lines |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 10,126 |  |  | 10,126 |
Credit lines: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
YTD gross charge-offs |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 156 |  |  | 156 |
Credit cards: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 36,386 |  |  | 36,386 |
Nonperforming |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 570 |  |  | 570 |
Total credit cards |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 36,956 |  |  | 36,956 |
Credit cards: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
YTD gross charge-offs |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,781 |  |  | 2,781 |
Overdrafts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 451 |  |  | 451 |
Nonperforming |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total overdrafts |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 451 |  |  | 451 |
Overdrafts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
YTD gross charge-offs |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 912 |  |  | 912 |
Total consumer loans |  | 266,393 |  |  | 177,224 |  |  | 115,920 |  |  | 41,147 |  |  | 11,614 |  |  | 8,132 |  |  | 47,533 |  |  | 667,963 |
Total consumer loans YTD gross charge-offs |  | 1,425 |  |  | 10,788 |  |  | 11,973 |  |  | 3,443 |  |  | 700 |  |  | 1,088 |  |  | 3,849 |  |  | 33,266 |
Total mortgage and consumer loans |  | $ | 307,641 |  |  | $ | 196,846 |  |  | $ | 139,234 |  |  | $ | 69,647 |  |  | $ | 31,919 |  |  | $ | 503,996 |  |  | $ | 47,533 |  |  | $ | 1,296,816 |
Total mortgage and consumer loans YTD gross charge-offs |  | $ | 1,425 |  |  | $ | 10,788 |  |  | $ | 11,973 |  |  | $ | 3,443 |  |  | $ | 700 |  |  | $ | 1,214 |  |  | $ | 3,849 |  |  | $ | 33,392 |
At September 30, 2025 and December 31, 2024, the balance of mortgage and consumer revolving loans that were converted to term loans was $2.6 million and $2.2 million, respectively. OFG evaluates credit quality for auto loans based on Fair Isaac Corporation (“FICO”) score. The following table presents the amortized cost in auto loans held for investment based on their most recent FICO score as of September 30, 2025:
| Term Loans Amortized Cost Basis by Origination Year |  | Total |  |
| 2025 |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | Prior |  |  |
| (In thousands) |  |
Auto loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FICO score: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-660 | $ | 93,655 |  |  | $ | 193,035 |  |  | $ | 179,129 |  |  | $ | 141,067 |  |  | $ | 74,810 |  |  | $ | 45,263 |  |  | $ | 726,959 |  |  |
661-699 | 114,779 |  |  | 122,877 |  |  | 80,212 |  |  | 50,664 |  |  | 25,073 |  |  | 14,909 |  |  | 408,514 |  |  |
700+ | 378,002 |  |  | 454,340 |  |  | 318,408 |  |  | 184,030 |  |  | 94,096 |  |  | 57,686 |  |  | 1,486,562 |  |  |
No FICO | 3,302 |  |  | 7,898 |  |  | 5,557 |  |  | 4,526 |  |  | 2,364 |  |  | 1,129 |  |  | 24,776 |  |  |
Total auto loans | $ | 589,738 |  |  | $ | 778,150 |  |  | $ | 583,306 |  |  | $ | 380,287 |  |  | $ | 196,343 |  |  | $ | 118,987 |  |  | $ | 2,646,811 |  |  |
Auto loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
YTD gross charge-offs | $ | 1,084 |  |  | $ | 13,071 |  |  | $ | 16,043 |  |  | $ | 10,971 |  |  | $ | 4,706 |  |  | $ | 3,930 |  |  | $ | 49,805 |  |  |
The following table presents the amortized cost in auto loans held for investment based on their most recent FICO score as of December 31, 2024:
| Term Loans Amortized Cost Basis by Origination Year |  | Total
| 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |
| (In thousands)
Auto loans: |  |  |  |  |  |  |  |  |  |  |  |  |
FICO score: |  |  |  |  |  |  |  |  |  |  |  |  |
1-660 | $ | 157,865 |  |  | $ | 191,510 |  |  | $ | 163,990 |  |  | $ | 93,675 |  |  | $ | 41,016 |  |  | $ | 38,369 |  |  | $ | 686,425 |
661-699 | 172,579 |  |  | 116,145 |  |  | 69,573 |  |  | 36,607 |  |  | 15,583 |  |  | 13,720 |  |  | 424,207 |
700+ | 521,507 |  |  | 397,649 |  |  | 243,449 |  |  | 130,613 |  |  | 66,571 |  |  | 54,947 |  |  | 1,414,736 |
No FICO | 5,266 |  |  | 6,630 |  |  | 5,616 |  |  | 3,255 |  |  | 1,265 |  |  | 1,633 |  |  | 23,665 |
Total auto loans | $ | 857,217 |  |  | $ | 711,934 |  |  | $ | 482,628 |  |  | $ | 264,150 |  |  | $ | 124,435 |  |  | $ | 108,669 |  |  | $ | 2,549,033 |
Auto loans: |  |  |  |  |  |  |  |  |  |  |  |  |
YTD gross charge-offs | $ | 4,068 |  |  | $ | 21,603 |  |  | $ | 18,912 |  |  | $ | 8,552 |  |  | $ | 3,799 |  |  | $ | 4,717 |  |  | $ | 61,651 |
Upon adoption of CECL, OFG elected to maintain pools of loans that were previously accounted for under ASC 310-30 and will continue to account for these pools as a unit of account. As such, PCD loans are not included in the preceding tables. As of September 30, 2025 and December 31, 2024, accrued interest receivable on loans totaled $59.7 million and $60.9 million, respectively, and is included in the accrued interest receivable line in OFG’s consolidated statements of financial condition. Refer to Note 9 – Accrued Interest Receivable and Other Assets for more information on accrued interest receivable on loans.

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