v3.25.2
INVESTMENT SECURITIES (Tables)
 6 Months Ended
Jun. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Investment Securities
The amortized cost, gross unrealized gains and losses, fair value, weighted average yield and contractual maturities of the securities owned by OFG at June 30, 2025 and December 31, 2024 were as follows:
June 30, 2025
Amortized CostGross Unrealized GainsGross Unrealized LossesFair
Value		Weighted Average Yield
(In thousands)
Available-for-sale
Mortgage-backed securities
FNMA and FHLMC certificates
Due after 10 years$1,978,009 $18,115 $45,911 $1,950,213 4.53 %
GNMA certificates
Due from 5 to 10 years4,012 — 91 3,921 1.76 %
Due after 10 years477,736 6,533 35,373 448,896 3.71 %
Total GNMA certificates481,748 6,533 35,464 452,817 3.69 %
CMOs issued by US government-sponsored agencies
Due after 10 years3,998 — 72 3,926 2.36 %
Total mortgage-backed securities2,463,755 24,648 81,447 2,406,956 4.36 %
Investment securities
US Treasury securities
Due less than 1 year1,399 — — 1,399 4.20 %
Other debt securities
Due from 1 to 5 years500 — — 500 2.35 %
Due after 10 years19 — — 19 2.97 %
Total other debt securities519 — — 519 2.37 %
Total investment securities1,918 — — 1,918 3.71 %
Total securities available for sale$2,465,673 $24,648 $81,447 $2,408,874 4.36 %
June 30, 2025
Amortized CostGross Unrealized GainsGross Unrealized LossesFair
Value		Weighted Average Yield
(In thousands)
Held-to-maturity
Mortgage-backed securities
FNMA and FHLMC certificates
Due after 10 years$281,186 $— $51,470 $229,716 1.73 %
Other debt securities
Due from 1 to 5 years35,000 13 — 35,013 5.32 %
Total securities held to maturity$316,186 $13 $51,470 $264,729 2.13 %
December 31, 2024
Amortized CostGross Unrealized GainsGross Unrealized LossesFair
Value		Weighted Average Yield
(In thousands)
Available-for-sale
Mortgage-backed securities
FNMA and FHLMC certificates
Due from 1 to 5 years$14,930 $— $587 $14,343 2.07 %
Due from 5 to 10 years23,664 — 1,415 22,249 1.90 %
Due after 10 years1,943,193 5,545 72,449 1,876,289 4.51 %
Total FNMA and FHLMC certificates1,981,787 5,545 74,451 1,912,881 4.46 %
GNMA certificates
Due from 1 to 5 years6,215 — 177 6,038 1.74 %
Due from 5 to 10 years11,358 10 641 10,727 2.25 %
Due after 10 years437,308 4,058 40,146 401,220 3.63 %
Total GNMA certificates454,881 4,068 40,964 417,985 3.57 %
CMOs issued by US government-sponsored agencies
Due from 1 to 5 years5,015 — 126 4,889 1.78 %
Due after 10 years753 — 3 750 5.07 %
Total CMOs issued by US government-sponsored agencies5,768 — 129 5,639 2.21 %
Total mortgage-backed securities2,442,436 9,613 115,544 2,336,505 4.29 %
Investment securities
US Treasury securities
Due less than 1 year1,149 1 — 1,150 4.85 %
Other debt securities
Due from 1 to 5 years550 — — 550 2.41 %
Total investment securities1,699 1 — 1,700 4.06 %
Total securities available for sale$2,444,135 $9,614 $115,544 $2,338,205 4.29 %
December 31, 2024
Amortized CostGross Unrealized GainsGross Unrealized LossesFair
Value		Weighted Average Yield
(In thousands)
Held-to-maturity
Mortgage-backed securities
FNMA and FHLMC certificates
Due after 10 years$292,158 $— $60,006 $232,152 1.73 %
Total FNMA and FHLMC certificates292,158 — 60,006 232,152 1.73 %
Investment securities
Other debt securities
Due from 1 to 5 years35,000 22 — 35,022 5.53 %
Total securities held to maturity$327,158 $22 $60,006 $267,174 2.13 %
Schedule of Gross Realized Gains and Losses by Category
Six-Month Period Ended June 30, 2024
DescriptionSale PriceBook Value at SaleGross GainsGross Losses
(In thousands)
Sale of investment securities available-for-sale
Investment securities
US Treasury securities$149,406 $149,413 $— $7 
Schedule of Unrealized Gains and Losses by Category
The following table shows OFG’s gross unrealized losses and fair value of investment securities available-for-sale at June 30, 2025 and December 31, 2024, aggregated by investment category and the length of time that individual securities have been in a continuous unrealized loss position:

June 30, 2025
Less than 12 months
12 months or more
Total
Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss
(In thousands)
Securities available-for-sale
FNMA and FHLMC certificates$362,460 $3,107 $555,655 $42,804 $918,115 $45,911 
GNMA certificates73,352 1,337 196,593 34,127 269,945 35,464 
CMOs issued by US Government-sponsored agencies— — 3,926 72 3,926 72 
$435,812 $4,444 $756,174 $77,003 $1,191,986 $81,447 

December 31, 2024
Less than 12 months
12 months or more
Total
Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss
(In thousands)
Securities available-for-sale
FNMA and FHLMC certificates$791,987 $12,989 $579,727 $61,462 $1,371,714 $74,451 
GNMA certificates83,773 2,019 201,320 38,945 285,093 40,964 
CMOs issued by US Government-sponsored agencies— — 5,639 129 5,639 129 
$875,760 $15,008 $786,686 $100,536 $1,662,446 $115,544