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LOANS

9 Months Ended

Sep. 30, 2025

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.