v3.26.1
ALLOWANCE FOR CREDIT LOSSES (Tables)
 6 Months Ended
Jun. 30, 2026
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, 2026 and 2025:
Quarter Ended June 30, 2026
CommercialMortgageConsumerAutoTotal
(In thousands)
Non-PCD:
Balance at beginning of period
$68,408 $6,243 $32,998 $92,462 $200,111 
Provision for (recapture of) credit losses904 (194)7,413 6,786 14,909 
Charge-offs(16,833)— (7,766)(14,420)(39,019)
Recoveries228 265 1,112 7,141 8,746 
Balance at end of period
$52,707 $6,314 $33,757 $91,969 $184,747 
PCD:
Balance at beginning of period
$495 $3,338 $10 $2 $3,845 
Recapture of credit losses
(1,521)(273)(13)(12)(1,819)
Charge-offs— — — — — 
Recoveries1,380 78 13 11 1,482 
Balance at end of period
$354 $3,143 $10 $1 $3,508 
Total allowance for credit losses at end of period
$53,061 $9,457 $33,767 $91,970 $188,255 
Six-Month Period Ended June 30, 2026
CommercialMortgageConsumerAutoTotal
(In thousands)
Non-PCD:
Balance at beginning of period
$65,943 $6,358 $33,466 $92,472 $198,239 
Provision for (recapture of) credit losses7,326 (436)14,696 16,776 38,362 
Charge-offs(20,843)(66)(16,585)(32,579)(70,073)
Recoveries281 458 2,180 15,300 18,219 
Balance at end of period
$52,707 $6,314 $33,757 $91,969 $184,747 
PCD:
Balance at beginning of period
$493 $3,599 $9 $1 $4,102 
Recapture of credit losses(1,540)(696)(17)(25)(2,278)
Charge-offs— (6)— — (6)
Recoveries1,401 246 18 25 1,690 
Balance at end of period
$354 $3,143 $10 $1 $3,508 
Total allowance for credit losses at end of period
$53,061 $9,457 $33,767 $91,970 $188,255 
Quarter Ended June 30, 2025
CommercialMortgageConsumer
Auto
Total
(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
CommercialMortgageConsumer
Auto
Total
(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