v3.25.2
ALLOWANCE FOR CREDIT LOSSES (Tables)
 6 Months Ended
Jun. 30, 2025
Credit Loss [Abstract]  
Schedule of Gross Loan and Allowance for Credit Losses
The following tables present the activity in OFG’s ACL by segment for the quarters and six-month periods ended June 30, 2025 and 2024:
Quarter Ended June 30, 2025
CommercialMortgageConsumerAutoTotal
(In thousands)
Non-PCD:
Balance at beginning of period$45,452 $5,922 $32,236 $91,142 $174,752 
Provision for (recapture of) credit losses6,319 (972)6,708 8,831 20,886 
Charge-offs(273)(11)(6,970)(14,870)(22,124)
Recoveries88 745 848 7,570 9,251 
Balance at end of period$51,586 $5,684 $32,822 $92,673 $182,765 
PCD:
Balance at beginning of period$2,338 $4,068 $11 $5 $6,422 
Provision for (recapture of) credit losses1,112 (417)(11)(16)668 
Charge-offs(31)(59)(1)(13)(104)
Recoveries63 91 11 28 193 
Balance at end of period$3,482 $3,683 $10 $4 $7,179 
Total allowance for credit losses at end of period$55,068 $9,367 $32,832 $92,677 $189,944 
Six-Month Period Ended June 30, 2025
CommercialMortgageConsumerAutoTotal
(In thousands)
Non-PCD:
Balance at beginning of period$44,814 $6,395 $31,818 $87,682 $170,709 
Provision for (recapture of) credit losses9,835 (1,608)14,653 22,809 45,689 
Charge-offs(3,303)(34)(15,222)(33,062)(51,621)
Recoveries240 931 1,573 15,244 17,988 
Balance at end of period$51,586 $5,684 $32,822 $92,673 $182,765 
PCD:
Balance at beginning of period$622 $4,514 $11 $7 $5,154 
Provision for (recapture of) credit losses2,803 (1,204)(17)(36)1,546 
Charge-offs(31)(59)(1)(14)(105)
Recoveries88 432 17 47 584 
Balance at end of period$3,482 $3,683 $10 $4 $7,179 
Total allowance for credit losses at end of period$55,068 $9,367 $32,832 $92,677 $189,944 
Quarter Ended June 30, 2024
CommercialMortgageConsumer
Auto
Total
(In thousands)
Non-PCD:
Balance at beginning of period$37,371 $7,627 $27,453 $76,316 $148,767 
Recapture of (provision for) credit losses
(1,984)(1,280)9,308 11,039 17,083 
Charge-offs(1,734)(1)(8,180)(12,559)(22,474)
Recoveries156 540 851 5,926 7,473 
Balance at end of period$33,809 $6,886 $29,432 $80,722 $150,849 
PCD:
Balance at beginning of period$1,133 $6,638 $7 $18 $7,796 
Recapture of credit losses(237)(1,060)(6)(29)(1,332)
Charge-offs(265)(29)— (6)(300)
Recoveries158 93 7 30 288 
Balance at end of period$789 $5,642 $8 $13 $6,452 
Total allowance for credit losses at end of period$34,598 $12,528 $29,440 $80,735 $157,301 
Six-Month Period Ended June 30, 2024
CommercialMortgageConsumer
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
(3,390)(1,854)16,963 22,117 33,836 
Charge-offs(7,050)(65)(16,161)(26,777)(50,053)
Recoveries208 807 1,544 11,897 14,456 
Balance at end of period$33,809 $6,886 $29,432 $80,722 $150,849 
PCD:
Balance at beginning of period$1,113 $7,351 $7 $25 $8,496 
Recapture of credit losses(374)(2,328)(29)(85)(2,816)
Charge-offs(265)(112)— (15)(392)
Recoveries315 731 30 88 1,164 
Balance at end of period$789 $5,642 $8 $13 $6,452 
Total allowance for credit losses at end of period$34,598 $12,528 $29,440 $80,735 $157,301