v3.26.1
DEPOSITS AND RELATED INTEREST
 3 Months Ended
Mar. 31, 2026
Deposits and Related Interest [Abstract]  
DEPOSITS AND RELATED INTEREST DEPOSITS AND RELATED INTEREST
Total deposits, including related accrued interest payable, as of March 31, 2026 and December 31, 2025 consist of the following:
March 31,December 31,
20262025
(In thousands)
Non-interest-bearing demand deposits$2,719,175 $2,626,768 
Interest-bearing savings and demand deposits4,996,333 5,433,197 
Retail certificates of deposit1,230,067 1,220,141 
Institutional certificates of deposit713,799 642,652 
Total core deposits9,659,374 9,922,758 
Brokered deposits189,898 339,994 
Total deposits$9,849,272 $10,262,752 
At March 31, 2026 and December 31, 2025, the aggregate amount of uninsured deposits was $5.117 billion (51.95% of total deposits) and $5.386 billion (52.48% of total deposits), respectively.
The weighted average interest rate of OFG’s deposits was 1.40% and 1.53%, respectively, at March 31, 2026 and December 31, 2025.
Interest expense for the quarters ended March 31, 2026 and 2025 was as follows:
Quarter Ended March 31,
20262025
(In thousands)
Demand and savings deposits$17,239 $20,868 
Certificates of deposit16,629 15,424 
$33,868 $36,292 
At March 31, 2026 and December 31, 2025, time deposits in denominations of $250 thousand or higher, excluding accrued interest and unamortized discounts, amounted to $1.244 billion and $1.177 billion, respectively.
At March 31, 2026 and December 31, 2025, total public fund deposits from various Puerto Rico government municipalities, agencies and corporations amounted to $1.261 billion and $1.676 billion, respectively. As of March 31, 2026 and December 31, 2025, these public funds were collateralized by investment securities totaling $1.200 billion and $1.614 billion, respectively, and by commercial loans totaling $76.6 million at both dates.
Excluding accrued interest of approximately $5.4 million at both March 31, 2026 and December 31, 2025, the scheduled maturities of certificates of deposit are as follows:
March 31,December 31,
20262025
Period-end amountUninsured amountPeriod-end amountUninsured amount
(In thousands)
Within one year:
Three months or less$677,819 $351,926 $751,849 $369,112 
Over 3 months through 6 months495,788 224,260 430,578 166,044 
Over 6 months through 1 year572,322 271,949 628,006 243,192 
1,745,929 848,135 1,810,433 778,348 
Over 1 through 2 years256,512 43,567 255,528 49,932 
Over 2 through 3 years65,186 6,192 70,597 6,470 
Over 3 through 4 years27,589 3,746 28,586 3,738 
Over 4 through 5 years33,071 4,737 32,186 4,251 
Over 5 years66 — 28 — 
$2,128,353 $906,377 $2,197,358 $842,739 
The tables of scheduled maturities of certificates of deposit above includes brokered-deposits and IRAs.
The aggregate amount of overdrafts in demand deposit accounts that were reclassified to loans amounted to $638 thousand and $977 thousand, as of March 31, 2026 and December 31, 2025, respectively.