ALLOWANCE FOR CREDIT LOSSES (Tables)

9 Months Ended

Sep. 30, 2025

The following tables present the activity in OFG’s ACL by segment for the quarters and nine-month periods ended September 30, 2025 and 2024:


	Quarter Ended September 30, 2025
	Commercial		Mortgage		Consumer		Auto		Total
	(In thousands)
Non-PCD:
Balance at beginning of period	$	51,586	$	5,684	$	32,822	$	92,673	$	182,765
Provision for credit losses	12,181		638		7,757		6,803		27,379
Charge-offs	(5,093)		—		(7,704)		(16,743)		(29,540)
Recoveries	922		171		896		7,108		9,097
Balance at end of period	$	59,596	$	6,493	$	33,771	$	89,841	$	189,701
PCD:
Balance at beginning of period	$	3,482	$	3,683	$	10	$	4	$	7,179
Provision for (recapture of) credit losses	259		453		(11)		(34)		667
Charge-offs	(205)		—		—		(2)		(207)
Recoveries	118		281		10		33		442
Balance at end of period	$	3,654	$	4,417	$	9	$	1	$	8,081
Total allowance for credit losses at end of period	$	63,250	$	10,910	$	33,780	$	89,842	$	197,782


	Nine-Month Period Ended September 30, 2025
	Commercial		Mortgage		Consumer		Auto		Total
	(In thousands)
Non-PCD:
Balance at beginning of period	$	44,814	$	6,395	$	31,818	$	87,682	$	170,709
Provision for (recapture of) credit losses	22,016		(970)		22,410		29,612		73,068
Charge-offs	(8,396)		(34)		(22,926)		(49,805)		(81,161)
Recoveries	1,162		1,102		2,469		22,352		27,085
Balance at end of period	$	59,596	$	6,493	$	33,771	$	89,841	$	189,701
PCD:
Balance at beginning of period	$	622	$	4,514	$	11	$	7	$	5,154
Provision for (recapture of) credit losses	3,062		(751)		(28)		(70)		2,213
Charge-offs	(236)		(59)		(1)		(16)		(312)
Recoveries	206		713		27		80		1,026
Balance at end of period	$	3,654	$	4,417	$	9	$	1	$	8,081
Total allowance for credit losses at end of period	$	63,250	$	10,910	$	33,780	$	89,842	$	197,782


	Quarter Ended September 30, 2024
	Commercial		Mortgage		Consumer		Auto		Total
	(In thousands)
Non-PCD:
Balance at beginning of period	$	33,809	$	6,886	$	29,432	$	80,722	$	150,849
Provision for (recapture of) credit losses	928		(31)		9,904		10,212		21,013
Charge-offs	(139)		(37)		(8,863)		(16,371)		(25,410)
Recoveries	1,479		72		830		6,300		8,681
Balance at end of period	$	36,077	$	6,890	$	31,303	$	80,863	$	155,133
PCD:
Balance at beginning of period	$	789	$	5,642	$	8	$	13	$	6,452
Provision for (recapture of) credit losses	751		(424)		(16)		(22)		289
Charge-offs	(663)		(66)		—		(9)		(738)
Recoveries	70		250		19		25		364
Balance at end of period	$	947	$	5,402	$	11	$	7	$	6,367
Total allowance for credit losses at end of period	$	37,024	$	12,292	$	31,314	$	80,870	$	161,500

	Nine-Month Period Ended September 30, 2024
	Commercial		Mortgage		Consumer		Auto		Total
	(In thousands)
Non-PCD:
Balance at beginning of period	$	44,041	$	7,998	$	27,086	$	73,485	$	152,610

Recapture of (provision for) credit losses	(2,462)		(1,885)		26,867		32,329		54,849
Charge-offs	(7,189)		(102)		(25,024)		(43,148)		(75,463)
Recoveries	1,687		879		2,374		18,197		23,137
Balance at end of period	$	36,077	$	6,890	$	31,303	$	80,863	$	155,133
PCD:
Balance at beginning of period	$	1,113	$	7,351	$	7	$	25	$	8,496

Provision for (recapture of) credit losses	377		(2,752)		(45)		(107)		(2,527)
Charge-offs	(928)		(178)		—		(24)		(1,130)
Recoveries	385		981		49		113		1,528
Balance at end of period	$	947	$	5,402	$	11	$	7	$	6,367
Total allowance for credit losses at end of period	$	37,024	$	12,292	$	31,314	$	80,870	$	161,500