v3.26.1
DEPOSITS AND RELATED INTEREST
 6 Months Ended
Jun. 30, 2026
Deposits and Related Interest [Abstract]  
DEPOSITS AND RELATED INTEREST DEPOSITS AND RELATED INTEREST
Total deposits, including related accrued interest payable, as of June 30, 2026, and December 31, 2025, consist of the following:
June 30,December 31,
20262025
(In thousands)
Non-interest-bearing demand deposits$2,767,422 $2,626,768 
Interest-bearing savings and demand deposits4,478,049 5,433,197 
Retail certificates of deposit1,251,124 1,220,141 
Institutional certificates of deposit1,247,653 642,652 
Total core deposits9,744,248 9,922,758 
Brokered deposits238,880 339,994 
Total deposits$9,983,128 $10,262,752 
At June 30, 2026, and December 31, 2025, the aggregate amount of uninsured deposits was $5.198 billion (52.07% of total deposits) and $5.386 billion (52.48% of total deposits), respectively.
The weighted average interest rate of OFG’s deposits was 1.39% and 1.53%, respectively, at June 30, 2026, and December 31, 2025.
Interest expense for the quarters and six-month periods ended June 30, 2026 and 2025 was as follows:
Quarter Ended June 30,Six-Month Period Ended June 30,
2026202520262025
(In thousands)
Demand and savings deposits$15,821 $21,567 $33,060 $42,434 
Certificates of deposit18,303 16,312 34,932 31,737 
$34,124 $37,879 $67,992 $74,171 
At June 30, 2026, and December 31, 2025, time deposits in denominations of $250 thousand or higher, excluding accrued interest and unamortized discounts, amounted to $1.792 billion and $1.177 billion, respectively.
At June 30, 2026, and December 31, 2025, total public fund deposits from various Puerto Rico government municipalities, agencies and corporations amounted to $1.301 billion and $1.676 billion, respectively. As of June 30, 2026, and December 31, 2025, these public funds were collateralized by investment securities totaling $1.226 billion and $1.614 billion, respectively, and by commercial loans totaling $76.6 million at both dates.
Excluding accrued interest of approximately $4.8 million and $5.4 million as of June 30, 2026, and December 31, 2025, the scheduled maturities of certificates of deposit are as follows:
June 30,December 31,
20262025
Period-end amountUninsured amountPeriod-end amountUninsured amount
(In thousands)
Within one year:
Three months or less$1,077,290 $644,156 $751,849 $369,112 
Over 3 months through 6 months608,115 440,716 430,578 166,044 
Over 6 months through 1 year746,136 306,934 628,006 243,192 
2,431,541 1,391,806 1,810,433 778,348 
Over 1 through 2 years180,708 37,849 255,528 49,932 
Over 2 through 3 years61,706 5,587 70,597 6,470 
Over 3 through 4 years26,643 4,857 28,586 3,738 
Over 4 through 5 years32,211 3,501 32,186 4,251 
Over 5 years16 — 28 — 
$2,732,825 $1,443,600 $2,197,358 $842,739 
The table 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 $1.1 million and $977 thousand, as of June 30, 2026, and December 31, 2025, respectively.