
	Quarter Ended June 30,				Six-Month Period Ended June 30,
	2025		2024		2025		2024
	(In thousands)
Banking service revenues:
Electronic banking fees	$	12,461	$	14,718	$	24,845	$	28,408
Checking accounts fees	2,016		1,894		4,181		4,061
Savings accounts fees	315		307		612		615
Credit life commissions	53		73		77		77
Branch service commissions	267		275		594		621
Servicing and other loan fees	617		1,325		1,179		1,893
International fees	236		184		450		356
Miscellaneous income	17		5		25		9
Total banking service revenues	$	15,982	$	18,781	$	31,963	$	36,040

Wealth management revenue:
Insurance income	$	4,418	$	4,214	$	8,325	$	7,988
Broker fees	2,334		2,009		4,749		4,100
Trust fees	2,166		2,217		4,299		4,459


Total wealth management revenue	$	8,918	$	8,440	$	17,373	$	16,547

Mortgage banking activities:
Net servicing fees	$	4,157	$	4,101	$	7,906	$	8,052
Net gains on sale of mortgage loans and valuation	975		719		2,045		1,372
Net gain on repurchased loans and other	215		44		172		133
Total mortgage banking activities	$	5,347	$	4,864	$	10,123	$	9,557
Total banking and financial service revenues	$	30,247	$	32,085	$	59,459	$	62,144

Electronic banking fees are credit and debit card processing services, fees for using the Bank’s ATMs by non-customers, debit card interchange income, and service charges on deposit accounts. Revenue is recorded once the contracted service has been provided. In July 1, 2024, the Durbin Amendment became applicable to the Bank as a result of crossing the $10 billion asset threshold in December 31, 2023, which imposes limits on what banks may charge for debit card interchange fees.

Service charges on checking and saving accounts is recognized as consumer periodic maintenance revenue once the service is rendered, while overdraft and late charges revenues are recorded after the contracted service has been provided.

Other income as credit life and branch service commissions, servicing and other loan fees, international fees, and miscellaneous income recognized as banking service revenue are out of the scope of ASC 606 – Revenue from Contracts with Customers.

Insurance income from commissions generated in the sale of insurance policies issued by unaffiliated insurance companies and sale of annuities are recorded once the sale has been completed. Reinsurance revenue is recorded based on earned premium

•Sales commissions generated by advisers for their clients’ purchases and sales of securities and other investment products, which are collected once the stand-alone transactions are completed at trade date or as earned, and managed account fees which are fees charged to advisers’ clients’ accounts on OFG’s corporate advisory platform. These revenues do not cover future services, as a result there is no need to allocate the amount received to any other service.

•Fees for providing distribution services related to mutual funds, net of compensation paid to a provider of such services, as well as trailer fees (also known as 12b-1 fees). These fees are considered variable and are recognized over time, as the uncertainty of the fees to be received is resolved as the net asset value of the mutual fund is determined and investor activity occurs. Fees do not cover future services, as a result there is no need to allocate the amount received to any other service.

Trust fees are revenues related to fiduciary services provided to 401K retirement plans, IRA trusts, and other retirement plans. These generally include payment for trustee services, distribution services, custodial services of plan assets, due diligence services, and investment advisory services. Fees are billed based on services contracted. Negotiated fees are detailed in the contract. Fees collected in advance are amortized over the term of the contract. Fees are generally collected on an annual or quarterly basis once the administrative service has been completed. Fees do not include future services.