v3.25.2
BORROWINGS AND RELATED INTEREST (Tables)
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Federal Home Loan Bank Advances
The following table shows a summary of the advances and their terms, excluding accrued interest in the amount of $1.5 million and $952 thousand at June 30, 2025 and December 31, 2024, respectively:
June 30,December 31,
20252024
(In thousands)
Short-term fixed-rate advances from FHLB, with a weighted average interest rate of 4.56%
$— $270,000 
Long-term fixed-rate advance from FHLB, with a weighted average interest rate of 4.09% (December 31, 2024 - 3.79%)
455,000 55,000 
$455,000 $325,000 
Advances from FHLB mature as follows:
June 30,December 31,
20252024
(In thousands)
Over 90 days to one year$—$270,000 
Over one to three years455,000 55,000 
$455,000 $325,000 
Schedule of Repurchase Agreements
The following table shows OFG’s repurchase agreements, excluding accrued interest in the amount of $119 thousand and $222 thousand at June 30, 2025 and December 31, 2024:
June 30,December 31,
20252024
(In thousands)
Short-term fixed-rate repurchase agreements, with a weighted average interest rate of 4.50% (December 31, 2024 - 4.63%)
$27,344 $75,000 
Repurchase agreements’ maturities at June 30, 2025 and December 31, 2024 were as follows:
June 30,December 31,
20252024
(In thousands)
Under 90 days$27,344 $75,000 
The following securities were sold under agreements to repurchase at June 30, 2025 and December 31, 2024:
June 30, 2025
Underlying SecuritiesAmortized Cost of Underlying SecuritiesBalance of BorrowingApproximate Fair Value of Underlying SecuritiesWeighted Average Interest Rate of Security
(In thousands)
FNMA and FHLMC Certificates$28,726 $27,344 $28,946 5.50 %
December 31, 2024
Underlying SecuritiesAmortized Cost of Underlying SecuritiesBalance of BorrowingApproximate Fair Value of Underlying SecuritiesWeighted Average Interest Rate of Security
(In thousands)
FNMA and FHLMC Certificates$81,409 $75,000 $80,968 5.25 %